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CAPÍTULO 3. MATERIALES Y MÉTODOS

3.2. PRESENTACIÓN DE CASOS / MUESTRA

For the sub-fund with the name DWS Invest Top Euroland, 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 Top Euroland is to achieve an above aver- age return. At least 75% of the sub-fund’s assets are invested in equities of issuers having their headquarters in a member state of the European Economic and Monetary Union (EMU).

The sub-fund focuses on companies with a higher market capitalization. Additionally, the fund- manager aims to run a concentrated port- folio, e.g. 40 – 60 different stocks. Depending on the market situation it is possible to deviate from the mentioned diversification target.

A maximum of 25% of the sub-fund’s assets may be invested in equities of issuers that do not meet the above mentioned criteria.

Up to 25% of the sub-fund’s assets may be invested in short-term deposits, money market instruments and bank balances.

Notwithstanding the investment limit specified in Article 2 B. (n) concerning the use of deriva- tives, the following investment restrictions shall apply with regard to the investment restrictions currently applicable in individual distribution countries:

Derivatives that constitute short positions must have adequate coverage at all times and may be used exclusively for hedging purposes. Hedging is limited to 100% of the underlying instrument covering the derivative. Conversely, no more than 35% of the net value of the assets of the sub- fund may be invested in derivatives that consti- tute long positions and do not have correspond- ing coverage.

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

PEA-compatibility

The sub-fund is eligible to the PEA (Plan d’Epargne en Actions), a fiscal advantage for French sub scribers.

UK Taxation

The following information is a general guide to the anticipated UK tax treatment of UK-resident inves- tors. Investors should be aware that UK tax law and practice can change. Prospective investors therefore need to consider their specific position at the time they invest, and should seek their own advice where appropriate.

The separate share classes are “offshore funds” for the purposes of the UK offshore funds legis- lation. Under this legislation, any gain arising on the sale, redemption or other disposal of shares in an offshore fund held by persons who are resident in the UK for tax purposes will be taxed at the time of such sale, disposal or redemption as income and not as a capital gain. This does not apply, however, where a share class is certi- fied by HM Revenue & Customs (“HMRC”) as

Share class Security codes ISIN

LC 552 516 LU0145644893 LD 552 517 LU0145647052 NC 552 518 LU0145647300 FC 552 519 LU0145647722 A2H DWS018 LU0544573081 IC DWS07P LU0616864954 ID DWS1CX LU0740840102 FD DWS1CY LU0740840441 A2 DWS1W4 LU0911039401 E2 DWS1W5 LU0911039583 E2H DWS1W6 LU0911039666 RDR1 DWS1W7 LU0911039740

Investor Profile Growth-oriented Currency of sub-fund EUR

“Hedged” share classes Sub-fund currency

aim to hedge against

Nature of shares Registered shares or bearer shares represented

by a global certificate.

The IC and ID share class is only offered in form of registered shares.

Date of launch and LC, LD, NC and FC: June 3, 2002

initial subscription A2H: February 11, 2013

IC, ID, FD, A2,

E2, E2H and RDR1: The date of launch and initial sub- scription will be determined by the Management Board of the Manage- ment Company. The Sales Prospec- tus will be updated accordingly.

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

A2H, A2, E2 and E2H: USD 100.00

RDR1: GBP 100.00

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

Front-end load LC, LD, A2H and A2: up to 5% based on the

(payable by the investor) gross investment*

NC: up to 3% based on the

gross investment** FC, IC, ID, FD,

E2, E2H and RDR1: 0%

Allocation of income NC, FC, LC, A2H, IC, A2, E2 and E2H: Reinvestment

LD , ID, FD and RDR1: Distribution

Management Company fee NC: up to 2% p.a.

(payable by the sub-fund)*** LC, LD, A2H and A2: up to 1.5% p.a.

FC, FD, E2, E2H and RDR1: up to 0.75% p.a.

IC and ID: up to 0.5% p.a.

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

(see Art. 12 b)

Service fee of the main distributor NC: 0.2% p.a.

(payable by the sub-fund)*** LC, LD, FC, A2H, IC, ID,

FD, A2, E2, E2H and RDR1: 0% p.a.

Taxe d’abonnement LC, LD, NC, FC, A2H, FD,

A2, E2, E2H and RDR1: 0.05% p.a.

IC and ID: 0.01% 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.

* 5% based on the gross investment correspond approx. to 5.26% 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.

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.

Performance of share classes vs. benchmark (in euro)

Share class

ISIN

1 year

3 years

5 years

Class LC

LU0145644893

27.8%

19.6%

-12.9%

Class LD

LU0145647052

27.8%

19.6%

-12.9%

Class NC

LU0145647300

26.9%

17.1%

-16.1%

Class FC

LU0145647722

28.7%

22.3%

-9.4%

EURO STOXX 50 since September 1, 2009

(formerly: DJ STOXX 50) in euro

17.7%

-1.8%

-26.3%

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

a “reporting fund” throughout the period dur- ing which the shares have been held by that investor.

The UK offshore funds regime is now contained in the Offshore Funds (Tax) Regulations 2009 (Statu- tory Instrument 2009/3001).

For a UK taxpayer to benefit from capital gains tax treatment on the disposal of their investment in the RDR1 share class, that class must be certified as a “reporting fund” in respect of all accounting periods during which the UK taxpayer owned the shares. The RDR1 share class is intended to be certified as a reporting fund from launch. In order to comply with the requirements of the report- ing regime, it will be necessary to report to both investors and HMRC the income attributable to the RDR1 share class for each relevant account- ing period. Where the reported income exceeds what has been distributed to investors, then that excess will be treated as additional distributions to the investors and investors will be liable to tax accordingly.

Dividends paid (and any retained income reported) to a UK resident individual will constitute a divi- dend (with a notional dividend tax credit attached) for UK income tax purposes and will generally be taxable. Dividends paid (and any returned income reported) to a UK resident company will also con- stitute dividend income in its hands and will gener- ally be exempt from tax.

The UK tax rules contain a number of anti-avoid- ance codes that can apply to UK investors in off- shore funds in particular circumstances. It is not anticipated that they will normally apply to inves- tors. Any UK taxpaying investor who (together with connected persons) holds over 25% (previ- ously 10%) of DWS Invest should take specific advice.

The intended category of investors for the RDR1 share class is retail investors. The shares in it will be widely available and marketed and made avail- able sufficiently widely to reach them and in a manner appropriate to attract them.

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 Top Euroland is the STOXX 50.

Leverage is not expected to exceed twice the value of the investment subfund’s assets. How- ever, 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.