Notification of changes to the underlying fund of R12 DWS Global Agribusiness

Investment policy of the underlying fund of R12 DWS Global Agribusiness before the Effective Date

Investment policy of the underlying fund of R12 DWS Global Agribusiness from the Effective Date

(…)

At least 70% of the underlying fund’s assets (after deduction of the liquid assets) are invested in equities listed for trading on an official market or are included or admitted in an organized market issued by foreign and domestic issuers operating in or profiting from the agricultural industry and which are not units of an investment fund. The relevant companies operate within the multi-layered food value chain. This includes companies involved in the cultivation, harvesting, planning, production, processing, service and distribution of agricultural products (forestry and agriculture companies, tool and agricultural machine manufacturers, companies in the food industry such as wine, cattle and meat producers and processors, supermarkets and chemical companies). In addition, the underlying fund’s assets may be invested in all other permissible assets. For the purpose of this investment policy and in accordance with the definition given in the German Capital Investment Code (KAGB), an organized market is a market which is recognized, open to the public and which functions correctly, unless expressly specified otherwise. Such organized market also meets the criteria of article 50 of the UCITS Directive.

A maximum of 30% of the underlying fund’s total assets (after deduction of the liquid assets)

can be invested in equities issued by foreign and domestic issuers that do not satisfy the requirements of the paragraph above.

(…)

At least 70% of the underlying fund’s assets is invested in equities issued by international issuers operating in or profiting from the agricultural industry. The relevant companies operate within the multi-layered food value chain. This includes companies involved in the cultivation, harvesting, planning, production, processing, service and distribution of agricultural products (forestry and agriculture companies, tool and agricultural machine manufacturers, companies in the food industry such as wine, cattle and meat producers and processors, supermarkets and chemical companies). In addition, the underlying fund’s assets may be invested in all other permissible assets.

A maximum of 30% of the underlying fund’s total assets (after deduction of the liquid assets) can be invested in equities issued by international issuers that do not satisfy the requirements of the paragraph above.

(…)

Notwithstanding the investment limits described in the Management Regulations and this Sales Prospectus, it additionally applies that at least 70% of the underlying fund’s gross assets (the gross assets are determined by the value of the underlying fund’s assets without consideration of the liabilities) must be invested in equities that are admitted to official trading on a stock exchange or admitted to, or included in another organized market and which are not investment fund units.

For the purpose of this investment policy and in accordance with the definition given in the German Capital Investment Code (KAGB), an organized market is a market which is recognized, open to the public and which functions correctly, unless expressly specified otherwise. Such organized market also meets the criteria of Article 50 of the UCITS Directive.