Marco histórico de la ciudad de Barranquilla

Investor profile Income-oriented Currency of sub-fund EUR

Sub-fund manager Deutsche Asset Management Investment GmbH and Deutsche Asset Management (UK) Limited

The Management Company entered into an investment management agreement with Deutsche Asset Man- agement Investment GmbH, Frankfurt/Main. Under its supervision, control and responsibility, and at its own expense, Deutsche Asset Management Investment GmbH, Frankfurt/Main, entered into an investment manage- ment agreement with Deutsche Asset Management (UK) Limited, London. The collective portfolio management of the sub-fund is performed by both companies by means of close cooperation as well as common processes and IT-systems.

Performance benchmark –

Reference portfolio (risk benchmark) – (absolute VaR)

Leverage effect 5 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 valuation

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 redemp- tion 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.

** 1.5% based on the gross investment corresponds approx. to 1.52% based on the net investment. *** 3% based on the gross investment corresponds approx. to 3.09% 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)*

FC EUR 0% up to 0.5% 0% 0.05% December 22, 2011 LD EUR up to 3%*** up to 0.9% 0% 0.05% February 17, 2014 PFC EUR 0% up to 0.6% 0% 0.05% May 26, 2014 PFDQ EUR 0% up to 0.6% 0% 0.05% May 26, 2014 LC EUR up to 3%*** up to 0.9% 0% 0.05% June 4, 2014 NC EUR up to 1.5%** up to 1.3% 0.1% 0.05% June 4, 2014 GBP IDH GBP 0% up to 0.35% 0% 0.01% June 16, 2014 GBP DH RD GBP 0% up to 0.5% 0% 0.05% July 21, 2014 GBP CH RD GBP 0% up to 0.5% 0% 0.05% August 17, 2015 CHF ICH CHF 0% up to 0.35% 0% 0.01% September 8, 2014

USD LCH USD up to 3%*** up to 0.9% 0% 0.05% September 8, 2014

USD FCH USD 0% up to 0.5% 0% 0.05% December 1, 2014

IC EUR 0% up to 0.35% 0% 0.01% January 30, 2015 CHF FDH CHF 0% up to 0.5% 0% 0.05% April 30, 2015 CHF FCH CHF 0% up to 0.5% 0% 0.05% April 30, 2015 CHF LCH CHF up to 3%*** up to 0.9% 0% 0.05% April 30, 2015 CHF LDH CHF up to 3%*** up to 0.9% 0% 0.05% April 30, 2015 FD EUR 0% up to 0.5% 0% 0.05% March 16, 2015 ID EUR 0% up to 0.35% 0% 0.01% March 2, 2015

SEK FCH SEK 0% up to 0.5% 0% 0.05% September 30, 2015

SEK LCH SEK up to 3%*** up to 0.9% 0% 0.05% September 30, 2015

For the sub-fund with the name Deutsche Invest I Global Bonds, 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 Deutsche Invest I Global Bonds is to generate an above-average return for the sub-fund.

The sub-fund’s assets may be invested globally in the following instruments:

– interest-bearing debt securities issued by sovereign institutions (central banks, govern-

ment agencies, government authorities and supra-national institutions) from developed countries or Emerging Markets;

– corporate bonds issued by companies from developed countries or Emerging Markets that may or may not offer an investment- grade status at the time of acquisition; – covered bonds;

– convertible bonds; – subordinated bonds; – asset-backed securities.

The sub-fund’s investments in the above-men- tioned assets may account for up to 100% of the sub-fund’s assets each. Furthermore equity-

linked derivatives may be used to achieve the sub-fund’s objective. Derivatives may be used for hedging and investment purposes.

At least 95% of the sub-fund’s assets will be in EUR or hedged into EUR.

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 others, options, forwards, futures, futures contracts on financial instruments and options on such con-

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:

tracts, as well as privately negotiated OTC con- tracts on any type of financial instrument, includ- ing swaps, forward-starting swaps, inflation swaps, total return swaps, excess return swaps, swaptions, constant maturity swaps and credit default swaps.

The sub-fund will not invest in contingent convertibles.

In addition, the sub-fund’s assets may be invested in all other permissible assets.

Asset-backed securities are interest-bearing debt securities backed by a range of receivables and/ or securities, including in particular securitized credit card receivables, private and commercial mortgage receivables, consumer loans, vehicle leasing receivables, small business loans, mort- gage bonds, collateralized loan obligations and collateralized bond obligations.

The term “asset-backed securities” is always used in the extended sense, i.e., including mort- gage backed securities and collateralized debt obligations.

Risk Disclaimer

The sub-fund may invest in different types of asset-backed securities. Among others, invest- ments may also include securities that may become subject to strong market volatility, such as collateralized debt obligations and collater- alized loan obligations. In some cases, these securities may be very illiquid during periods of market uncertainty and may be sold only at a discount. Individual securities may, in such extreme market phases, suffer a total loss or a significant decrease in value. High losses of value at the level of the sub-fund can therefore not be excluded.

German Taxation

Taxation bases to be calculated in accordance with Article 5 (1) of the German Investment Tax Act (Investmentsteuergesetz) are not determined for the PFC and PFDQ share classes. For invest- ors who are without limitation subject to taxation in Germany, the regulations of so-called non- transparent taxation are therefore applicable (see Summary of tax regulations of importance to the investor). Due to potentially undesirable conse- quences of non-transparent taxation, the above- mentioned share classes are in principle neither intended nor suitable for investors who are with- out limitation subject 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 assets is limited to 10% of the sub-fund assets with the parameters of a 10-day holding period and a 99% confidence level.

Contrary to the provision of the general section of the Sales Prospectus, because of the investment 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’s assets. The leverage effect is calculated using the sum of notional approach (absolute (notional) amount of each derivative position divided by the net present value of the portfolio). 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).