CAPITULO 3: ESTUDIO DE LA SOCIEDAD MAPUCHE Y SU DESCRIPCIÓN
3.2. La sociedad mapuche desde la teoría de los sistemas sociales
supra-national institutions and organizations hav- ing a European, regional or global sphere of activ- ity, as well as bonds that are listed on an exchange or traded on a regulated market that operates reg- ularly and is recognized and open to the public, are issued by top-rated entities or with top-rated guar- antors and have a term to maturity of less than twelve months and are highly liquid. For instru- ments with a variable term, maturity is deter- mined on the basis of the date of the next inter- est rate adjustment.
In addition to all other permissible assets speci- fied in Article 2 of the general section of the Sales Prospectus, up to 30% of the sub-fund’s assets may be invested in the following securities and/or derivatives: equities, participation and dividend- right certificates, convertible bonds, convertible debentures and warrant-linked bonds, warrants on equities issued worldwide and denominated in any freely convertible currency.
In compliance with the investment limits specified in Article 2 B. of the Sales Prospectus – general section, the investment policy is implemented mainly through the use of suitable certificates and/ or derivative financial instruments. The derivative financial instruments may include, among others, options, forwards, futures, futures contracts on financial instruments and options on such con- tracts, as well as privately negotiated swap con- tracts on any type of financial instrument, includ- ing credit default swaps.
In addition, the sub-fund’s assets may be invested in all other permissible assets. No assurance can be given that the investment objective will be achieved.
Deferred Pricing
The sub-fund follows the rule of deferred pricing, which means that the assets of the sub-fund are valued with a delay of three days, i.e. on each rel- evant valuation day the assets’ values which have been calculated three days before will be taken into account for the NAV calculation.
Fund manager of the sub-fund
The fund manager of the sub-fund is DWS Investment GmbH.
Performance of share classes (in euro)
Share class
ISIN
1 year
3 years
Since inception
1)Class LC
LU0210302799
4.8%
-16.4%
-10.6%
Class NC
LU0210303094
4.3%
-17.8%
-12.7%
Class FC
LU0210303508
4.9%
-15.4%
-8.4%
Class A2
2)LU0273166388
5.8%
-8.4%
-4.5%
Class E2
2)LU0273178805
-0.5%
3)-12.6%
4)-8.8%
5) 1)Classes LC, NC and FC on February 21, 2005 / Classes A2 and E2 on November 20, 20062)in USD
3)Liquidated on June 18, 2009 / Performance from January 1, 2009, through June 18, 2009 4)Liquidated on June 18, 2009 / Performance from January 1, 2007, through June 18, 2009 5)Liquidated on June 18, 2009 / Performance from November 20, 2006, through June 18, 2009
“BVI method” performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of December 31, 2009
The sub-fund DWS Invest Global Emerging Sovereigns has been renamed as DWS Invest Emerging Markets Corporates effective July 1, 2010.
For the sub-fund with the name DWS Invest Emerging Markets Corporates, 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 DWS Invest Emerging Markets Corporates is to gener- ate an above-average return for the sub-fund. At least 70% of the sub-fund’s assets are invested in interest-bearing debt securities that are issued by companies based in an Emerging Market or those that conduct their principal business activ- ity in such a country.
Emerging-market countries are defined as all those countries considered by the International Monetary Fund, the World Bank or the Interna- tional Finance Corporation (IFC) or one of large global investment banks as non-developed indus- trial countries at the time of the investment. Credit derivatives such as credit default swaps on single issuers and indices as well as tranches on CDS indices may be acquired for investment and hedging purposes to the extent permitted by law. A maximum of 30% of the sub-fund’s assets may be invested in interest-bearing debt securities that do not meet the above mentioned criteria, cash and money market instruments.
In addition, the sub-fund may invest in all other permissible assets as specified in Article 2 of the general section of the Sales Prospectus. The described investment policy could also be im- plemented by using Synthetic Dynamic Underly- ings (SDU).
Fund manager of the sub-fund
The fund manager of the sub-fund is DWS Investment GmbH.
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
A1 DWS0CU LU0273170653 A2 DWS0CV LU0273170737 E2 DWS0CW LU0273179951 NC DWS0XV LU0436053051 LC DWS0XU LU0436052673 LD DWS00B LU0507269834 FC DWS00C LU0507270097
Investor Profile Growth-oriented
Currency of sub-fund USD (not necessarily identical to the investment currency of the
sub-fund)
Nature of shares Registered shares or bearer shares represented by a global
certificate
Date of launch and initial subscription
A1, A2 and E2: November 20, 2006
NC, LD, FC and LC: the date of launch and initial subscription will be determined by the Board of Direc- tors. The Sales Prospectus will be updated accordingly.
Initial NAV per share A1, A2 and E2: USD 100.00
NC, LD, FC and LC: EUR 100.00
Calculation of the NAV per share Each bank business day in Luxembourg
Front-end load
(payable by the investor)
LC, LD, A1 and A2: up to 3% based on the gross investment* NC and FC: up to 1.5% based on the gross
investment**
E2: 0%
Allocation of income A1, LD and FC: Distribution
NC, LC, A2 and E2: Reinvestment
Management Company fee
(payable by the sub-fund)***
NC: up to 1.4% p.a. plus an additional performance-related fee**** LC, A1, LD and A2: up to 1.1% p.a. plus an additional
performance-related fee**** E2 and FC: up to 0.6% p.a. plus an additional
performance-related fee****
Expense cap
(see Art. 12 b)
Not to exceed 15% of the Management Company fee
Service fee of the main distributor
(payable by the sub-fund)**
NC: 0.1% p.a.
A1, A2, LC, LD, FC and E2: 0% p.a.
Taxe d’abonnement A1, A2, NC, LC, LD, FC and E2: 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 Luxem-
bourg 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 value is credited three bank business days after redemption of the shares.