ANÁLISIS DEL MATERIAL

Investor profile Growth-oriented

Currency of sub-fund EUR

Sub-fund manager Deutsche Asset Management Investment GmbH

Performance benchmark –

Reference portfolio (risk benchmark) (absolute VaR)

Leverage effect 2 times the value of the investment sub-fund’s assets

Calculation of the NAV per share Each bank business day in Luxembourg

Order acceptance All subscription, redemption and exchange orders are placed on the basis of an unknown net asset value per share. Orders received by the Transfer Agent at or before 4:00 PM Luxembourg time (CET) on a valuation date are processed on the basis of the net asset value per share on the subsequent valuation date. Orders received after 4:00 PM Luxembourg time (CET) are processed on the basis of the net asset value per share on the valua- tion date immediately following that next valuation date.

Value date In a purchase, the equivalent value is debited three bank business days after issue of the shares. The equivalent value is credited three bank business days after redemption of the shares. The value date for purchase and re- demption orders of certain currencies may deviate by one day from the value date as specified in the description of share classes in the general section of the Sales Prospectus.

Fractional shares Up to three places after the decimal point

Expense cap Not to exceed 15% of the Management Company fee

* For additional costs, see Article 12 in the general section of the Sales Prospectus.

** 2% based on the gross investment corresponds approx. to 2.04% based on the net investment. *** 4% based on the gross investment corresponds approx. to 4.17% based on the net investment.

**** The Management Company may, at its discretion, partially or completely dispense with the dilution adjustment.

Share class Currency of Front-end load Management Service Fee p.a. Taxe d’abonnement Launch date share class (payable by the investor) Company Fee p.a. (payable by the sub-fund)* (payable by the sub-fund)

(payable by the sub-fund)*

LC EUR up to 4%*** up to 1.3% 0% 0.05% June 4, 2014 LD EUR up to 4%*** up to 1.3% 0% 0.05% August 17, 2015 LDQ EUR up to 4%*** up to 1.3% 0% 0.05% June 4, 2014 NC EUR up to 2%** up to 1.7% 0.1% 0.05% June 4, 2014 NDQ EUR up to 2%** up to 1.7% 0.1% 0.05% June 4, 2014 PFC EUR 0% up to 1.2% 0% 0.05% June 4, 2014 PFDQ EUR 0% up to 1.2% 0% 0.05% June 4, 2014 FC EUR 0% up to 0.75% 0% 0.05% October 1, 2014 FD EUR 0% up to 0.75% 0% 0.05% August 17, 2015

AUD LCH AUD up to 4%*** up to 1.3% 0% 0.05% May 15, 2015 AUD LDMH AUD up to 4%*** up to 1.3% 0% 0.05% August 17, 2015

CHF FCH CHF 0% up to 0.75% 0% 0.05% August 17, 2015

GBP CH RD GBP 0% up to 0.75% 0% 0.05% May 15, 2015

HKD LDMH HKD up to 4%*** up to 1.3% 0% 0.05% May 22, 2015 SGD LDMH SGD up to 4%*** up to 1.3% 0% 0.05% March 16, 2015

USD FCH USD 0% up to 0.75% 0% 0.05% May 5, 2015

USD LCH USD up to 4%*** up to 1.3% 0% 0.05% May 15, 2015 USD LDMH USD up to 4%*** up to 1.3% 0% 0.05% August 17, 2015 RMB LDMH CNY up to 4%*** up to 1.3% 0% 0.05% October 15, 2015

SEK FCH SEK 0% up to 0.75% 0% 0.05% October 15, 2015

SEK LCH SEK up to 4%*** up to 1.3% 0% 0.05% October 15, 2015

For the sub-fund with the name Deutsche Invest I Multi Opportunities, the following provisions shall apply in addition to the terms contained in the general section of the Sales Prospectus.

Investment policy

The objective of the investment policy of the sub- fund Deutsche Invest I Multi Opportunities is to achieve an above-average return.

The sub-fund may invest in equities, in interest- bearing securities, in certificates on, for exam- ple, equities, bonds and indices, in investment funds, in derivatives, in convertible debentures, in convertible and warrant-linked bonds whose warrants relate to securities, in warrants on

securities, in participation and dividend-right cer- tificates, in money market instruments and cash.

At least 51% of the sub-fund‘s assets will be invested in investment funds such as equity, bal- anced, bond and money market funds.

Notwithstanding Article 2 B. (i), the following applies:

The sub-fund’s assets may be used to acquire shares of other Undertakings for Collective Investment in Transferable Securities and/or collective investment undertakings as defined in Article 2 A. (e), provided that no more than 20% of the sub-fund’s assets are invested in one and the same UCITS and/or UCIs.

Every sub-fund of an umbrella fund is to be regarded as an independent issuer, provided that the principle of individual liability per sub-fund is applicable in terms of liability to third parties.

Investments in shares of other collective invest- ment undertakings other than Undertakings for Collective Investment in Transferable Securities must not exceed 30% of the sub-fund’s net assets in total.

In the case of investments in shares of another UCITS and/or other UCIs, the investments held by that UCITS and/or by other UCIs are not taken into consideration for the purposes of the limits specified in Article 2 B. (a), (b), (c), (d), (e) and (f). Due to its composition and the techniques applied by its fund management, the sub-fund is subject to markedly increased volatility, which means that the price per share may be subject to substantial downward or upward fluctuation, even within short periods of time.

Dilution adjustment PFC and PFDQ:

(payable by the shareholder)**** A dilution adjustment of up to 3% based on the gross redemption amount may be charged. Please see the general section for further explanation.

Placement fee PFC and PFDQ:

The sub-fund’s investments in asset-backed securities and mortgage backed securities shall be limited to 20% of the sub-fund’s net asset value.

When using financial indices, legal provisions apply as set out in Article 44 (1) of the Law of 2010, and Article 9 of the Grand-Ducal Regulation of February 8, 2008.

In compliance with the investment limits speci- fied in Article 2 B. of the general section of the Sales Prospectus, the investment policy may also be implemented through the use of suitable derivative financial instruments. These derivative financial instruments may include, among oth- ers, options, forwards, futures, futures contracts on financial instruments and options on such contracts, as well as privately negotiated OTC contracts on any type of financial instrument, including swaps, forward-starting swaps, infla- tion swaps, swaptions, constant maturity swaps and credit default swaps.

The sub-fund’s investments in contingent con- vertibles shall be limited to 10% of the sub-fund’s net asset value.

In addition the sub-fund‘s assets may be invested in all other permissible assets as specified in Article 2 of the general section of the Sales Prospectus.

German Taxation

Taxation bases to be calculated in accordance with article 5 (1) of the German Investment Tax Act (Investmentsteuergesetz) are not deter- mined for the AUD LDMH, HKD LDMH, LDQ, NDQ, PFC, PFDQ, RMB LDMH, SGD LDMH and USD LDMH share classes. For investors who are without limitation subject to taxation in Germany, the regulations of so-called non-transparent taxa- tion are therefore applicable (see Summary of tax regulations of importance to the investor). Due to potentially undesirable consequences of non- transparent taxation, the above-mentioned share classes are in principle neither intended nor suit- able for investors who are without limitation sub- ject to taxation in Germany.

Risk Management

The absolute Value-at-Risk (VaR) approach is used to limit market risk in the sub-fund.

The VaR of the sub-fund’s assets is limited to 12% of the sub-fund’s assets with the parameters of a 10-day holding period and 99% confidence level.

Leverage is not expected to exceed twice the value of the investment sub-fund’s assets. The leverage effect is calculated using the sum of notional approach (absolute (notional) amount of each derivative position divided by the net pres- ent value of the portfolio). However, the disclosed expected level of leverage is not intended to be an additional exposure limit for the sub-fund.

Investment in shares of target funds

In addition to the information in the general section of the Sales Prospectus the following is applicable to this sub-fund:

When investing in target funds associated to the sub-fund, the part of the management fee attrib- utable to shares of these target funds is reduced

by the management fee/all-in fee of the acquired target funds, and as the case may be, up to the full amount (difference method).