Deutsche Asset & Wealth Management Renames Retail Product Suite in the Americas

Deutsche Asset & Wealth Management (DeAWM) announced today that it has renamed all retail products in the Americas, effective today. This change will affect all open-end funds, closed-end funds, the Variable Insurance Portfolios (VIPs) currently named “DWS,” and the db X-trackers exchange-traded funds (ETFs).

“Renaming our products to reflect our integrated platform is the natural next step for our business, as we continue to expand our footprint and leverage Deutsche Bank’s global reach,” said Jerry Miller, Head of Deutsche Asset & Wealth Management, Americas. “The Deutsche brand better reflects our platform’s global capabilities and our ability to deliver unique, holistic solutions to our growing client base in the Americas.”

As part of the rebranding, Deutsche Asset & Wealth Management’s suite of retail products and ETFs will be renamed as follows:

Additionally, the names of three key service providers will be renamed as follows:

DST fund numbers, ticker symbols, and fund objectives will remain unchanged.

For more information on the rebranding and new CUSIP numbers, please visit www.deutschefunds.com.

Deutsche Asset & Wealth Management

With $1.31 trillion of assets under management (as of June 30, 2014), Deutsche Asset & Wealth Management¹ is one of the world's leading investment organizations. Deutsche Asset & Wealth Management offers individuals and institutions traditional and alternative investments across all major asset classes. It also provides tailored wealth management solutions and private banking services to high-net-worth individuals and family offices.

¹ Deutsche Asset & Wealth Management is the brand name of the Asset Management and Wealth Management division of the Deutsche Bank Group. The legal entities offering products or services under the Deutsche Asset & Wealth Management brand are listed in contracts, sales materials and other product information documents.

Carefully consider the funds’ investment objectives, risk factors and charges and expenses before investing. This and other important information can be found in the funds’ prospectuses which may be prospectuses, obtained by calling 1-855-DBX-ETFS (1-855-329-3837) or by downloading a prospectus at deutsche-etfs.com. Read the prospectus carefully before investing.

The Deutsche X-trackers ETFs ("ETFs") are distributed by ALPS Distributors, Inc. ("ALPS"). DBX Strategic Advisors LLC and DBX Advisors LLC, are the investment advisers to the ETFs. The advisers are subsidiaries of Deutsche Bank AG and are not affiliated with ALPS.

RISKS: International investing involves greater and different risks than investing in U.S. companies and funds investing in a single country or in a limited geographic region tend to be more volatile than more diversified funds. Emerging markets, such as China, tend to be more volatile that the markets of more mature economies, and generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. Special risks associated with investments in Chinese companies include exposure to currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards the nature and extent of intervention by the Chinese government in the Chinese securities markets, and the potential unavailability of A-shares. Any reduction or elimination of access to A-shares will have a material adverse effect on the ability of the funds to achieve their investment objectives. Uncertainties in the Chinese tax rules governing taxation of income and gains from investments in A-shares could result in unexpected tax liabilities for the Funds which may reduce the Funds returns. An investment in these funds should be considered only as a supplement to a complete investment program for those investors willing to accept the greater risks associated with investments in China. Please read each Fund's prospectus for a more complete discussion of the Fund's risks.

Deutsche Asset & Wealth Management represents the asset management and wealth management activities conducted by Deutsche Bank AG or any of its subsidiaries. Clients will be provided Deutsche Asset & Wealth Management products or services by one or more legal entities that will be identified to clients pursuant to the contracts, agreements, offering materials or other documentation relevant to such products or services.

No bank guarantee | Not FDIC insured | May lose value

© 2014 Deutsche Asset & Wealth Management. All rights reserved.

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