Asociatividad características y formas de uso

For the sub-fund with the name DWS Invest Multi Asset Allocation, 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 DWS Invest Multi Asset Allocation is to achieve a positive long-term investment per- formance taking in account the opportunities and risks of the international equity and fixed-income markets.

Up to 100% of the sub-fund’s assets are invested globally in equities and bonds, such as equity certificates, index certificates, convertible bonds, warrant-linked bonds whose underlying warrants are for securities, warrants for securities, dividend- right and participation certificates, equity, bond and money-market funds, investment funds that reflect the performance of an index, as well as interest-bearing debt securities and cash. Up to 10% of the sub-fund may be invested in certificates based on commodities, commodities indices, precious metals and precious metals indices, as well as in structured financial products and funds. According to Article 2 A. (j), invest- ment in the certificates listed here is only permit- ted if they are 1:1 certificates.

The proportion of open-ended real estate funds is limited to not more than 10% of the sub-fund’s net assets.

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.

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.

Risk Management

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

In addition to the provisions of the general sec- tion of the Sales Prospectus, the potential market risk of the sub-fund is measured using a refer- ence portfolio that does not contain derivatives. The reference portfolio is a portfolio that does not include any leverage effect from the use of derivatives.

The corresponding reference portfolio for the sub-fund DWS Invest Multi Asset Allocation consists of equities included in the (50%) MSCI Equities EMF (EMERGING MARKETS FREE) EUR NR, (50%) STOXX 600.

Contrary to the provision of the general section of the Sales Prospectus, because of the investment

* 4% based on the gross investment correspond approx. to 4.17% based on the net investment. ** 3% based on the gross investment correspond approx. to 3.09% based on the net investment. *** For additional costs, see Article 12 in the general section of the Sales Prospectus.

**** For the share classes LC, LD, NC and FC the Management Company shall receive from the sub-fund’s assets an additional performance-related fee per share class equal to 25% of the amount by which the performance of the sub-fund exceeds the return from a money market investment specified below. The calculation basis for the LC, LD, NC and FC share classes is the performance of the EONIA (capitalized) Index, plus 400 basis points (target return, no benchmark). The performance-related fee for the respective share class is calculated daily and settled semi-annually. In accordance with the result of the daily comparison, any performance-related fee incurred is de- ferred in the sub-fund for each share class. If the performance of the shares during any fiscal six-month period falls short of the aforementioned target return, any performance-related fee amounts already deferred in that fiscal six- month period shall be eliminated in accordance with the daily comparison. The amount of deferred performance- related fee existing at the end of the fiscal six-month period may be withdrawn.

There is a requirement to make up any underperformance relative to the target return from previous accounting periods before any performance fee may be charged (High Water Mark).

Due to its composition and the techniques applied by its fund management, the sub-fund is subject to increased volatility, which means that the price per share may be subject to considerable downward or upward fluctuation, even within short periods of time.

Share class Security codes ISIN

LC 727 458 LU0179218606

LD 727 459 LU0179218861

NC 727 460 LU0179219240

FC 727 461 LU0179219679

Investor Profile Growth-oriented Currency of sub-fund EUR

Nature of shares Registered shares or bearer shares represented

by a global certificate.

Launch date LC, NC, FC and LD: January 12, 2004

Initial NAV per share LC, NC, FC and LD: EUR 100.00

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

Front-end load LC and LD: up to 4% based on the gross investment*

(payable by the investor) NC: up to 3% based on the gross investment**

FC: 0%

Allocation of income NC, FC and LC: Reinvestment

LD: Distribution

Management Company fee NC: up to 1.6% p.a. plus an additional

(payable by the sub-fund)*** performance-related fee****

LC and LD: up to 1.2% p.a. plus an additional performance-related fee****

FC: up to 0.65% p.a. plus an additional

performance-related fee****

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

(see Art. 12 b)

Service fee of the NC: 0.1% p.a.

main distributor FC, LC and LD: 0% p.a.

(payable by the sub-fund)***

Taxe d’abonnement LC, LD, NC and FC: 0.05% p.a.

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 on a valuation date are processed on the basis of the net asset value per share on that valuation date. Orders received after 4:00 PM Luxembourg time are processed on the basis of the net asset value per share on the next valuation date.

Value date In a purchase, the equivalent value is debited three bank

business days after issue of the shares. The equivalent val- ue is credited three bank business days after redemption of the shares. The value date for purchase and redemption orders of certain currencies may deviate by one day from the value date as specified in the General Part of the share class description.

Performance of share classes (in euro)

Share class

ISIN

1 year

3 years

5 years

Class LC

LU0179218606

9.2%

0.7%

-22.9%

Class LD

LU0179218861

9.2%

0.7%

-22.5%

Class NC

LU0179219240

8.6%

-1.0%

-24.9%

Class FC

LU0179219679

9.9%

2.4%

-20.3%

“BVI method” performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: December 31, 2012

strategy of the sub-fund it is expected that the leverage effect from the use of derivatives will not be any higher than five times the sub-fund assets. The disclosed expected level of leverage is not intended to be an additional exposure limit for the sub-fund.

Fund manager of the sub-fund

The fund manager of the sub-fund is DWS Invest- ment GmbH.