This Principal Executive Officer and Principal Financial Officer Code of Ethics (“Officer Code”) sets forth the policies, practices, and values expected to be exhibited in the conduct of the Principal Executive Officers and Principal Financial Officers of the investment companies (“Funds”) they serve (“Covered Officers”). A list of Covered Officers and Funds is included on Appendix A.

The Boards of the Funds listed on Appendix A have elected to implement the Officer Code, pursuant to Section 406 of the Sarbanes-Oxley Act of 2002 and the SEC’s rules thereunder, to promote and demonstrate honest and ethical conduct in their Covered Officers.

Deutsche Asset & Wealth Management or its affiliates (“DeAWM”) serves as the investment adviser to each Fund. All Covered Officers are also employees of DeAWM or an affiliate. Thus, in addition to adhering to the Officer Code, these individuals must comply with DeAWM policies and procedures, such as the DeAWM Code of Ethics governing personal trading activities, as adopted pursuant to Rule 17j-1 under the Investment Company Act of 1940.1 In addition, such individuals also must comply with other applicable Fund policies and procedures.

The DeAWM Compliance Officer, who shall not be a Covered Officer and who shall serve as such subject to the approval of the Fund’s Board (or committee thereof), is primarily responsible for implementing and enforcing this Code. The Compliance Officer has the authority to interpret this Officer Code and its applicability to particular circumstances. Any questions about the Officer Code should be directed to the DeAWM Compliance Officer.

The DeAWM Compliance Officer and his or her contact information can be found in Appendix A.

1 The obligations imposed by the Officer Code are separate from, and in addition to, any obligations imposed under codes of ethics adopted pursuant to Rule 17j-1 under the Investment Company Act of 1940, and any other code of conduct applicable to Covered Officers in whatever capacity they serve. The Officer Code does not incorporate any of those other codes and, accordingly, violations of those codes will not necessarily be considered violations of the Officer Code and waivers granted under those codes would not necessarily require a waiver to be granted under this Code. Sanctions imposed under those codes may be considered in determining appropriate sanctions for any violation of this Code.

II.	Purposes of the Officer Code

The purposes of the Officer Code are to deter wrongdoing and to:

·	promote honest and ethical conduct among Covered Officers, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

·	promote full, fair, accurate, timely and understandable disclosures in reports and documents that the Funds file with or submit to the SEC (and in other public communications from the Funds) and that are within the Covered Officer’s responsibilities;

·	promote compliance with applicable laws, rules and regulations;

·	encourage the prompt internal reporting of violations of the Officer Code to the DeAWM Compliance Officer; and

·	establish accountability for adherence to the Officer Code.

Any questions about the Officer Code should be referred to DeAWM’s Compliance Officer.

III.	Responsibilities of Covered Officers

A. Honest and Ethical Conduct

It is the duty of every Covered Officer to encourage and demonstrate honest and ethical conduct, as well as adhere to and require adherence to the Officer Code and any other applicable policies and procedures designed to promote this behavior. Covered Officers must at all times conduct themselves with integrity and distinction, putting first the interests of the Fund(s) they serve. Covered Officers must be honest and candid while maintaining confidentiality of information where required by law, DeAWM policy or Fund policy.

Covered Officers also must, at all times, act in good faith, responsibly and with due care, competence and diligence, without misrepresenting or being misleading about material facts or allowing their independent judgment to be subordinated. Covered Officers also should maintain skills appropriate and necessary for the performance of their duties for the Fund(s). Covered Officers also must responsibly use and control all Fund assets and resources entrusted to them.

Covered Officers may not retaliate against others for, or otherwise discourage the reporting of, actual or apparent violations of the Officer Code or applicable laws or regulations. Covered Officers should create an environment that encourages the exchange of information, including concerns of the type that this Code is designed to address.

B. Conflicts of Interest

A “conflict of interest” occurs when a Covered Officer’s personal interests interfere with the interests of the Fund for which he or she serves as an officer. Covered Officers may not improperly use their position with a Fund for personal or private gain to themselves, their family, or any other person. Similarly, Covered Officers may not use their personal influence or personal relationships to influence decisions or other Fund business or operational matters where they would benefit personally at the Fund’s expense or to the Fund’s detriment. Covered Officers may not cause the Fund to take action, or refrain from taking action, for their personal benefit at the Fund’s expense or to the Fund’s detriment. Some examples of conflicts of interest follow (this is not an all-inclusive list): being in the position of supervising, reviewing or having any influence on the job evaluation, pay or benefit of any immediate family member who is an employee of a Fund service provider or is otherwise associated with the Fund; or having an ownership interest in, or having any consulting or employment relationship with, any Fund service provider other than DeAWM or its affiliates.

Certain conflicts of interest covered by this Code arise out of the relationships between Covered Officers and the Fund that already are subject to conflict of interest provisions in the Investment Company Act and the Investment Advisers Act. For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with the Fund because of their status as “affiliated persons” of the Fund. Covered Officers must comply with applicable laws and regulations. Therefore, any violations of existing statutory and regulatory prohibitions on individual behavior could be considered a violation of this Code.

As to conflicts arising from, or as a result of the advisory relationship (or any other relationships) between the Fund and DeAWM, of which the Covered Officers are also officers or employees, it is recognized by the Board that, subject to DeAWM’s fiduciary duties to the Fund, the Covered Officers will in the normal course of their duties (whether formally for the Fund or for DeAWM, or for both) be involved in establishing policies and implementing decisions which will have different effects on DeAWM and the Fund. The Board recognizes that the participation of the Covered Officers in such activities is inherent in the contract relationship between the Fund and DeAWM, and is consistent with the expectation of the Board of the performance by the Covered Officers of their duties as officers of the Fund.

Covered Officers should avoid actual conflicts of interest, and appearances of conflicts of interest, between the Covered Officer’s duties to the Fund and his or her personal interests beyond those contemplated or anticipated by applicable regulatory schemes. If a Covered Officer suspects or knows of a conflict or an appearance of one, the Covered Officer must immediately report the matter to the DeAWM Compliance Officer. If a Covered Officer, in lieu of reporting such a matter to the DeAWM Compliance Officer, may report the matter directly to the Fund’s Board (or committee thereof), as appropriate (e.g., if the conflict involves the DeAWM Compliance Officer or the Covered Officer reasonably believes it would be futile to report the matter to the DeAWM Compliance Officer).

When actual, apparent or suspected conflicts of interest arise in connection with a Covered Officer, DeAWM personnel aware of the matter should promptly contact the DeAWM Compliance Officer. There will be no reprisal or retaliation against the person reporting the matter.

Upon receipt of a report of a possible conflict, the DeAWM Compliance Officer will take steps to determine whether a conflict exists. In so doing, the DeAWM Compliance Officer may take any actions he or she determines to be appropriate in his or her sole discretion and may use all reasonable resources, including retaining or engaging legal counsel, accounting firms or other consultants, subject to applicable law.2 The costs associated with such actions may be borne by the Fund, if appropriate, after consultation with the Fund’s Board (or committee thereof). Otherwise, such costs will be borne by DeAWM or other appropriate Fund service provider.

After full review of a report of a possible conflict of interest, the DeAWM Compliance Officer may determine that no conflict or reasonable appearance of a conflict exists. If, however, the DeAWM Compliance Officer determines that an actual conflict exists, the Compliance Officer will resolve the conflict solely in the interests of the Fund, and will report the conflict and its resolution to the Fund’s Board (or committee thereof). If the DeAWM Compliance Officer determines that the appearance of a conflict exists, the DeAWM Compliance Officer will take appropriate steps to remedy such appearance. In lieu of determining whether a conflict exists and/or resolving a conflict, the DeAWM Compliance Officer instead may refer the matter to the Fund’s Board (or committee thereof), as appropriate. However, the DeAWM Compliance Officer must refer the matter to the Fund’s Board (or committee thereof) if the DeAWM Compliance Officer is directly involved in the conflict or under similar appropriate circumstances.

After responding to a report of a possible conflict of interest, the DeAWM Compliance Officer will discuss the matter with the person reporting it (and with the Covered Officer at issue, if different) for purposes of educating those involved on conflicts of interests (including how to detect and avoid them, if appropriate).

Appropriate resolution of conflicts may restrict the personal activities of the Covered Officer and/or his family, friends or other persons.

Solely because a conflict is disclosed to the DeAWM Compliance Officer (and/or the Board or Committee thereof) and/or resolved by the DeAWM Compliance Officer does not mean that the conflict or its resolution constitutes a waiver from the Code’s requirements.

Any questions about conflicts of interests, including whether a particular situation might be a conflict or an appearance of one, should be directed to the DeAWM Compliance Officer.

2 For example, retaining a Fund’s independent accounting firm may require pre-approval by the Fund’s audit committee.

C. Use of Personal Fund Shareholder Information

A Covered Officer may not use or disclose personal information about Fund shareholders, except in the performance of his or her duties for the Fund. Each Covered Officer also must abide by the Funds’ and DeAWM’s privacy policies under SEC Regulation S-P.

D. Public Communications

In connection with his or her responsibilities for or involvement with a Fund’s public communications and disclosure documents (e.g., shareholder reports, registration statements, press releases), each Covered Officer must provide information to Fund service providers (within the DeAWM organization or otherwise) and to the Fund’s Board (and any committees thereof), independent auditors, government regulators and self-regulatory organizations that is fair, accurate, complete, objective, relevant, timely and understandable.

Further, within the scope of their duties, Covered Officers having direct or supervisory authority over Fund disclosure documents or other public Fund communications will, to the extent appropriate within their area of responsibility, endeavor to ensure full, fair, timely, accurate and understandable disclosure in Fund disclosure documents. Such Covered Officers will oversee, or appoint others to oversee, processes for the timely and accurate creation and review of all public reports and regulatory filings. Within the scope of his or her responsibilities as a Covered Officer, each Covered Officer also will familiarize himself or herself with the disclosure requirements applicable to the Fund, as well as the business and financial operations of the Fund. Each Covered Officer also will adhere to, and will promote adherence to, applicable disclosure controls, processes and procedures, including DeAWM’s Disclosure Controls and Procedures, which govern the process by which Fund disclosure documents are created and reviewed.

To the extent that Covered Officers participate in the creation of a Fund’s books or records, they must do so in a way that promotes the accuracy, fairness and timeliness of those records.

E. Compliance with Applicable Laws, Rules and Regulations

In connection with his or her duties and within the scope of his or her responsibilities as a Covered Officer, each Covered Officer must comply with governmental laws, rules and regulations, accounting standards, and Fund policies/procedures that apply to his or her role, responsibilities and duties with respect to the Funds (“Applicable Laws”). These requirements do not impose on Covered Officers any additional substantive duties. Additionally, Covered Officers should promote compliance with Applicable Laws.

If a Covered Officer knows of any material violations of Applicable Laws or suspects that such a violation may have occurred, the Covered Officer is expected to promptly report the matter to the DeAWM Compliance Officer.

IV.	Violation Reporting

A. Overview

Each Covered Officer must promptly report to the DeAWM Compliance Officer, and promote the reporting of, any known or suspected violations of the Officer Code. Failure to report a violation may be a violation of the Officer Code.

Examples of violations of the Officer Code include, but are not limited to, the following:

·	Unethical or dishonest behavior

·	Obvious lack of adherence to policies surrounding review and approval of public communications and regulatory filings

·	Failure to report violations of the Officer Code

·	Known or obvious deviations from Applicable Laws

·	Failure to acknowledge and certify adherence to the Officer Code

The DeAWM Compliance Officer has the authority to take any and all action he or she considers appropriate in his or her sole discretion to investigate known or suspected Code violations, including consulting with the Fund’s Board, the independent Board members, a Board committee, the Fund’s legal counsel and/or counsel to the independent Board members. The Compliance Officer also has the authority to use all reasonable resources to investigate violations, including retaining or engaging legal counsel, accounting firms or other consultants, subject to applicable law.3 The costs associated with such actions may be borne by the Fund, if appropriate, after consultation with the Fund’s Board (or committee thereof). Otherwise, such costs will be borne by DeAWM.

3 For example, retaining a Fund’s independent accounting firm may require pre-approval by the Fund’s audit committee.

B. How to Report

Any known or suspected violations of the Officer Code must be promptly reported to the DeAWM Compliance Officer.

C. Process for Violation Reporting to the Fund Board

The DeAWM Compliance Officer will promptly report any violations of the Code to the Fund’s Board (or committee thereof).

D. Sanctions for Code Violations

Violations of the Code will be taken seriously. In response to reported or otherwise known violations, DeAWM and the relevant Fund’s Board may impose sanctions within the scope of their respective authority over the Covered Officer at issue. Sanctions imposed by DeAWM could include termination of employment. Sanctions imposed by a Fund’s Board could include termination of association with the Fund.

V.	Waivers from the Officer Code

A Covered Officer may request a waiver from the Officer Code by transmitting a written request for a waiver to the DeAWM Compliance Officer.4 The request must include the rationale for the request and must explain how the waiver would be in furtherance of the standards of conduct described in and underlying purposes of the Officer Code. The DeAWM Compliance Officer will present this information to the Fund’s Board (or committee thereof). The Board (or committee) will determine whether to grant the requested waiver. If the Board (or committee) grants the requested waiver, the DeAWM Compliance Officer thereafter will monitor the activities subject to the waiver, as appropriate, and will promptly report to the Fund’s Board (or committee thereof) regarding such activities, as appropriate.

The DeAWM Compliance Officer will coordinate and facilitate any required public disclosures of any waivers granted or any implicit waivers.

4 Of course, it is not a waiver of the Officer Code if the Fund’s Board (or committee thereof) determines that a matter is not a deviation from the Officer Code’s requirements or is otherwise not covered by the Code.

VI.	Amendments to the Code

The DeAWM Compliance Officer will review the Officer Code from time to time for its continued appropriateness and will propose any amendments to the Fund’s Board (or committee thereof) on a timely basis. In addition, the Board (or committee thereof) will review the Officer Code at least annually for its continued appropriateness and may amend the Code as necessary or appropriate.

The DeAWM Compliance Officer will coordinate and facilitate any required public disclosures of Code amendments.

VII.	Acknowledgement and Certification of Adherence to the Officer Code

Each Covered Officer must sign a statement upon appointment as a Covered Officer and annually thereafter acknowledging that he or she has received and read the Officer Code, as amended or updated, and confirming that he or she has complied with it (see Appendix B: Acknowledgement and Certification of Obligations Under the Officer Code).

Understanding and complying with the Officer Code and truthfully completing the Acknowledgement and Certification Form is each Covered Officer’s obligation.

The DeAWM Compliance Officer will maintain such Acknowledgements in the Fund’s books and records.

VIII.

Scope of Responsibilities

A Covered Officer’s responsibilities under the Officer Code are limited to:

(1)	Fund matters over which the Officer has direct responsibility or control, matters in which the Officer routinely participates, and matters with which the Officer is otherwise involved (i.e., matters within the scope of the Covered Officer’s responsibilities as a Fund officer); and

(2)	Fund matters of which the Officer has actual knowledge.

IX.	Recordkeeping

The DeAWM Compliance Officer will create and maintain appropriate records regarding the implementation and operation of the Officer Code, including records relating to conflicts of interest determinations and investigations of possible Code violations.

X.	Confidentiality

All reports and records prepared or maintained pursuant to this Officer Code shall be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Officer Code, such matters shall not be disclosed to anyone other than the DeAWM Compliance Officer, the Fund’s Board (or committee thereof), legal counsel, independent auditors, and any consultants engaged by the Compliance Officer.

Appendices

Appendix A:

List of Officers Covered under the Code, by Board:

Fund Board	Principal Executive Officers	Principal Financial Officers	Treasurer
Deutsche Funds	Brian Binder5	Paul Schubert	Paul Schubert
Germany*	Brian Binder	Paul Schubert	Paul Schubert

*	The Central Europe, Russia and Turkey Fund, Inc., The European Equity Fund, Inc. and The New Germany Fund, Inc.

DeAWM Compliance Officer:

Joseph S. Yuen

Head of Gifts/Entertainment & the Code of Ethics

212-250-4773

917-512-9286 fax

As of: December 6, 2013

5 As of December 1, 2013

Appendix B: Acknowledgement and Certification

Initial Acknowledgement and Certification

of Obligations Under the Officer Code

Print Name Department Location Telephone

1.	I acknowledge and certify that I am a Covered Officer under the Deutsche Asset & Wealth Management Principal Executive and Financial Officer Code of Ethics (“Officer Code”), and therefore subject to all of its requirements and provisions.

2.	I have received and read the Officer Code and I understand the requirements and provisions set forth in the Officer Code.

3.	I have disclosed any conflicts of interest of which I am aware to the DeAWM Compliance Officer.

4.	I will act in the best interest of the Funds for which I serve as an officer and have maintained the confidentiality of personal information about Fund shareholders.

5.	I will report any known or suspected violations of the Officer Code in a timely manner to the DeAWM Compliance Officer.

Signature Date

Annual Acknowledgement and Certification

of Obligations Under the Officer Code

Print Name Department Location Telephone

1.	I acknowledge and certify that I am a Covered Officer under the Deutsche Asset & Wealth Management Principal Executive and Financial Officer Code of Ethics (“Officer Code”), and therefore subject to all of its requirements and provisions.

2.	I have received and read the Officer Code, and I understand the requirements and provisions set forth in the Officer Code.

3.	I have adhered to the Officer Code.

4.	I have not knowingly been a party to any conflict of interest, nor have I had actual knowledge about actual or apparent conflicts of interest that I did not report to the DeAWM Compliance Officer in accordance with the Officer Code’s requirements.

5.	I have acted in the best interest of the Funds for which I serve as an officer and have maintained the confidentiality of personal information about Fund shareholders.

6.	With respect to the duties I perform for the Fund as a Fund officer, I believe that effective processes are in place to create and file public reports and documents in accordance with applicable regulations.

7.	With respect to the duties I perform for the Fund as a Fund officer, I have complied to the best of my knowledge with all Applicable Laws (as that term is defined in the Officer Code) and have appropriately monitored those persons under my supervision for compliance with Applicable Laws.

8.	I have reported any known or suspected violations of the Officer Code in a timely manner to the DeAWM Compliance Officer.

Signature Date

Appendix C: Definitions

Principal Executive Officer

Individual holding the office of President of the Fund or series of Funds, or a person performing a similar function.

Principal Financial Officer

Individual holding the office of Treasurer of the Fund or series of Funds, or a person performing a similar function.

Registered Investment Management Investment Company

Registered investment companies other than a face-amount certificate company or a unit investment trust.

Waiver

A waiver is an approval of an exemption from a Code requirement.

Implicit Waiver

An implicit waiver is the failure to take action within a reasonable period of time regarding a material departure from a requirement or provision of the Officer Code that has been made known to the DeAWM Compliance Officer or the Fund’s Board (or committee thereof).

Date of fiscal year end:	12/31

Date of reporting period:	12/31/2015

Growth of an Assumed $10,000 Investment
■ Deutsche Equity 500 Index VIP — Class A ■ S&P 500^® Index		The Standard & Poor's 500^® (S&P 500) Index is an unmanaged, capitalization-weighted index of 500 stocks. The index is designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.

Yearly periods ended December 31

Comparative Results (as of December 31, 2015)
Deutsche Equity 500 Index VIP		1-Year	3-Year	5-Year	10-Year
Class A	Growth of $10,000	$10,113	$15,128	$17,824	$19,744
Class A	Average annual total return	1.13%	14.80%	12.25%	7.04%
S&P 500 Index	Growth of $10,000	$10,138	$15,259	$18,075	$20,242
S&P 500 Index	Average annual total return	1.38%	15.13%	12.57%	7.31%
Deutsche Equity 500 Index VIP		1-Year	3-Year	5-Year	10-Year
Class B	Growth of $10,000	$10,092	$15,022	$17,598	$19,264
Class B	Average annual total return	0.92%	14.53%	11.97%	6.78%
S&P 500 Index	Growth of $10,000	$10,138	$15,259	$18,075	$20,242
S&P 500 Index	Average annual total return	1.38%	15.13%	12.57%	7.31%
Deutsche Equity 500 Index VIP		1-Year	3-Year	5-Year	10-Year
Class B2	Growth of $10,000	$10,076	$14,966	$17,495	$19,030
Class B2	Average annual total return	0.76%	14.38%	11.84%	6.65%
S&P 500 Index	Growth of $10,000	$10,138	$15,259	$18,075	$20,242
S&P 500 Index	Average annual total return	1.38%	15.13%	12.57%	7.31%

Asset Allocation (As a % of Investment Portfolio excluding Securities Lending Collateral)	12/31/15	12/31/14

Common Stocks	100%	99%
Cash Equivalents	0%	1%
	100%	100%

Sector Diversification (As a % of Common Stocks)	12/31/15	12/31/14

Information Technology	21%	20%
Financials	16%	17%
Health Care	15%	14%
Consumer Discretionary	13%	12%
Consumer Staples	10%	10%
Industrials	10%	10%
Energy	7%	9%
Utilities	3%	3%
Materials	3%	3%
Telecommunication Services	2%	2%
	100%	100%

Ten Largest Equity Holdings (18.8% of Net Assets)
1. Apple, Inc. Designs, manufactures and markets personal computers and related computing and mobile communications devices	3.3%
2. Alphabet, Inc. Operates as a holding company and through its subsidiaries provides Web-based search, maps, commerce and hardware products	2.5%
3. Microsoft Corp. Develops, manufactures, licenses, sells and supports software products	2.5%
4. Exxon Mobil Corp. Explorer and producer of oil and gas	1.8%
5. General Electric Co. Diversified technology, media and financial services company	1.6%
6. Johnson & Johnson Provider of health care products	1.6%
7. Amazon.com, Inc. An online retailer; sells books, music and videotapes	1.4%
8. Wells Fargo & Co. A diversified financial services company	1.4%
9. Berkshire Hathaway, Inc. Holding company of insurance business and a variety of other businesses	1.4%
10. JPMorgan Chase & Co. Provider of global financial services	1.3%
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund's investment portfolio, see page 6.

		Principal Amount ($)	Value ($)

Government & Agency Obligations 0.1%
U.S. Treasury Obligations
U.S. Treasury Bills:
	0.175%**, 1/21/2016 (b)	15,000	14,999
	0.048%**, 3/31/2016 (b)	550,000	549,768
Total Government & Agency Obligations (Cost $564,930)			564,767

	Shares	Value ($)

Securities Lending Collateral 5.1%
Daily Assets Fund, 0.36% (c) (d) (Cost $28,790,180)	28,790,180	28,790,180

Cash Equivalents 0.4%
Central Cash Management Fund, 0.25% (c) (Cost $1,984,717)	1,984,717	1,984,717

	% of Net Assets	Value ($)

Total Investment Portfolio (Cost $367,019,467)^†	105.1	588,421,042
Other Assets and Liabilities, Net	(5.1)	(28,760,151)
Net Assets	100.0	559,660,891

Futures	Currency	Expiration Date	Contracts	Notional Value ($)	Unrealized Depreciation ($)
S&P 500 E-Mini Index	USD	3/18/2016	31	3,154,870	(6,410)

Assets	Level 1	Level 2	Level 3	Total

Common Stocks (e)	$ 557,081,378	$ —	$ —	$ 557,081,378
Government & Agency Obligations	—	564,767	—	564,767
Short-Term Investments (e)	30,774,897	—	—	30,774,897
Total	$ 587,856,275	$ 564,767	$ —	$ 588,421,042
Liabilities	Level 1	Level 2	Level 3	Total

Derivatives (f) Futures Contracts	$ (6,410)	$ —	$ —	$ (6,410)
Total	$ (6,410)	$ —	$ —	$ (6,410)

as of December 31, 2015
Assets
Investments: Investments in non-affiliated securities, at value (cost $336,244,570) — including $27,876,908 of securities loaned	$ 557,646,145
Investment in Daily Assets Fund (cost $28,790,180)*	28,790,180
Investment in Central Cash Management Fund (cost $1,984,717)	1,984,717
Total investments in securities, at value (cost $367,019,467)	588,421,042
Cash	16,098
Receivable for Fund shares sold	10,896
Dividends receivable	750,459
Interest receivable	4,525
Foreign taxes recoverable	393
Other assets	9,984
Total assets	$ 589,213,397
Liabilities
Payable upon return of securities loaned	28,790,180
Payable for investments purchased	70,721
Payable for Fund shares redeemed	382,016
Payable for variation margin on futures contracts	31,116
Accrued management fee	89,356
Accrued Trustees' fees	6,229
Other accrued expenses and payables	182,888
Total liabilities	29,552,506
Net assets, at value	$ 559,660,891
Net Assets Consist of
Undistributed net investment income	10,615,081
Net unrealized appreciation (depreciation) on: Investments	221,401,575
Futures	(6,410)
Accumulated net realized gain (loss)	28,279,950
Paid-in capital	299,370,695
Net assets, at value	$ 559,660,891
Class A Net Asset Value, offering and redemption price per share ($530,329,512 ÷ 27,337,468 outstanding shares of beneficial interest, $.001 par value, unlimited number of shares authorized)	$ 19.40
Class B Net Asset Value, offering and redemption price per share ($12,310,868 ÷ 634,704 outstanding shares of beneficial interest, $.001 par value, unlimited number of shares authorized)	$ 19.40
Class B2 Net Asset Value, offering and redemption price per share ($17,020,511 ÷ 877,722 outstanding shares of beneficial interest, $.001 par value, unlimited number of shares authorized)	$ 19.39

for the year ended December 31, 2015
Investment Income
Income: Dividends (net of foreign taxes withheld of $1,253)	$ 12,881,101
Interest	646
Income distributions — Central Cash Management Fund	3,457
Securities lending income, including income from Daily Assets Fund, net of borrower rebates	52,250
Total income	12,937,454
Expenses: Management fee	1,232,288
Administration fee	616,144
Services to shareholders	5,259
Record keeping fee (Class B and Class B2)	35,407
Distribution service fees (Class B and Class B2)	70,855
Custodian fee	40,480
Professional fees	77,699
Reports to shareholders	43,732
Trustees' fees and expenses	24,894
Other	43,401
Total expenses before expense reductions	2,190,159
Expense reductions	(60,454)
Total expenses after expense reductions	2,129,705
Net investment income (loss)	10,807,749
Realized and Unrealized Gain (Loss)
Net realized gain (loss) from: Investments	40,411,863
Futures	523,959
	40,935,822
Change in net unrealized appreciation (depreciation) on: Investments	(44,725,505)
Futures	(142,149)
	(44,867,654)
Net gain (loss)	(3,931,832)
Net increase (decrease) in net assets resulting from operations	$ 6,875,917

Increase (Decrease) in Net Assets	Years Ended December 31,
Increase (Decrease) in Net Assets	2015	2014
Operations: Net investment income (loss)	$ 10,807,749	$ 10,405,558
Net realized gain (loss)	40,935,822	29,177,166
Change in net unrealized appreciation (depreciation)	(44,867,654)	37,616,286
Net increase (decrease) in net assets resulting from operations	6,875,917	77,199,010
Distributions to shareholders from: Net investment income: Class A	(9,872,144)	(11,057,697)
Class B	(139,339)	(84,385)
Class B2	(233,490)	(287,223)
Net realized gains: Class A	(27,498,227)	(19,839,875)
Class B	(461,402)	(173,737)
Class B2	(836,657)	(647,089)
Total distributions	(39,041,259)	(32,090,006)
Fund share transactions: Class A Proceeds from shares sold	24,313,549	27,216,371
Reinvestment of distributions	37,370,371	30,897,572
Cost of shares redeemed	(111,171,237)	(91,182,781)
Net increase (decrease) in net assets from Class A share transactions	(49,487,317)	(33,068,838)
Class B Proceeds from shares sold	6,669,770	2,195,802
Reinvestment of distributions	600,741	258,122
Cost of shares redeemed	(1,280,491)	(865,375)
Net increase (decrease) in net assets from Class B share transactions	5,990,020	1,588,549
Class B2 Proceeds from shares sold	675,159	926,523
Reinvestment of distributions	1,070,147	934,312
Cost of shares redeemed	(2,843,635)	(4,285,608)
Net increase (decrease) in net assets from Class B2 share transactions	(1,098,329)	(2,424,773)
Increase (decrease) in net assets	(76,760,968)	11,203,942
Net assets at beginning of period	636,421,859	625,217,917
Net assets at end of period (including undistributed net investment income of $10,615,081 and $10,218,649, respectively)	$ 559,660,891	$ 636,421,859

Other Information	Years Ended December 31,
Other Information	2015	2014
Class A Shares outstanding at beginning of period	29,911,141	31,567,788
Shares sold	1,225,463	1,399,940
Shares issued to shareholders in reinvestment of distributions	1,892,171	1,693,946
Shares redeemed	(5,691,307)	(4,750,533)
Net increase (decrease) in Class A shares	(2,573,673)	(1,656,647)
Shares outstanding at end of period	27,337,468	29,911,141
Class B Shares outstanding at beginning of period	337,768	255,427
Shares sold	331,792	112,884
Shares issued to shareholders in reinvestment of distributions	30,371	14,128
Shares redeemed	(65,227)	(44,671)
Net increase (decrease) in Class B shares	296,936	82,341
Shares outstanding at end of period	634,704	337,768
Class B2 Shares outstanding at beginning of period	933,560	1,058,904
Shares sold	33,269	47,260
Shares issued to shareholders in reinvestment of distributions	54,075	51,111
Shares redeemed	(143,182)	(223,715)
Net increase (decrease) in Class B2 shares	(55,838)	(125,344)
Shares outstanding at end of period	877,722	933,560

	Shares	Value ($)

Common Stocks 99.5%
Consumer Discretionary 12.8%
Auto Components 0.4%
BorgWarner, Inc.	7,092	306,587
Delphi Automotive PLC	8,644	741,050
Goodyear Tire & Rubber Co.	8,480	277,042
Johnson Controls, Inc.	20,160	796,118
		2,120,797
Automobiles 0.6%
Ford Motor Co.	121,157	1,707,102
General Motors Co.	44,046	1,498,005
Harley-Davidson, Inc. (a)	6,014	272,975
		3,478,082
Distributors 0.1%
Genuine Parts Co.	4,632	397,842
Diversified Consumer Services 0.0%
H&R Block, Inc.	7,361	245,195
Hotels, Restaurants & Leisure 1.9%
Carnival Corp.	14,301	779,119
Chipotle Mexican Grill, Inc.*	974	467,374
Darden Restaurants, Inc.	3,597	228,913
Marriott International, Inc. "A" (a)	5,929	397,480
McDonald's Corp.	28,595	3,378,213
Royal Caribbean Cruises Ltd.	5,312	537,628
Starbucks Corp.	46,243	2,775,967
Starwood Hotels & Resorts Worldwide, Inc.	5,272	365,244
Wyndham Worldwide Corp.	3,666	266,335
Wynn Resorts Ltd. (a)	2,497	172,767
Yum! Brands, Inc.	13,493	985,664
		10,354,704
Household Durables 0.4%
D.R. Horton, Inc.	10,392	332,856
Garmin Ltd. (a)	3,540	131,582
Harman International Industries, Inc.	2,205	207,733
Leggett & Platt, Inc.	4,323	181,652
Lennar Corp. "A" (a)	5,578	272,820
Mohawk Industries, Inc.*	1,964	371,962
Newell Rubbermaid, Inc.	8,306	366,129

Class A	Years Ended December 31,
Class A	2015	2014	2013	2012	2011
Selected Per Share Data
Net asset value, beginning of period	$ 20.41	$ 19.01	$ 15.01	$ 13.20	$ 13.17
Income (loss) from investment operations: Net investment income (loss)^a	.35	.33	.30	.28	.23
Net realized and unrealized gain (loss)	(.10)	2.10	4.37	1.78	.03
Total from investment operations	.25	2.43	4.67	2.06	.26
Less distributions from: Net investment income	(.33)	(.37)	(.31)	(.25)	(.23)
Net realized gains	(.93)	(.66)	(.36)	—	—
Total distributions	(1.26)	(1.03)	(.67)	(.25)	(.23)
Net asset value, end of period	$ 19.40	$ 20.41	$ 19.01	$ 15.01	$ 13.20
Total Return (%)	1.13^b	13.39^b	31.93^b	15.70	1.83
Ratios to Average Net Assets and Supplemental Data
Net assets, end of period ($ millions)	530	610	600	668	632
Ratio of expenses before expense reductions (%)	.34	.34	.34	.35	.33
Ratio of expenses after expense reductions (%)	.33	.33	.34	.35	.33
Ratio of net investment income (loss) (%)	1.77	1.70	1.76	1.95	1.74
Portfolio turnover rate (%)	3	3	4^c	4	6
^a Based on average shares outstanding during the period. ^b Total return would have been lower had certain expenses not been reduced. ^c Excludes portfolio securities delivered as a result of processing redemption in-kind transactions.

Class B	Years Ended December 31,
Class B	2015	2014	2013	2012	2011
Selected Per Share Data
Net asset value, beginning of period	$ 20.40	$ 19.01	$ 15.00	$ 13.19	$ 13.17
Income (loss) from investment operations: Net investment income (loss)^a	.30	.28	.34	.25	.20
Net realized and unrealized gain (loss)	(.09)	2.09	4.29	1.78	.01
Total from investment operations	.21	2.37	4.63	2.03	.21
Less distributions from: Net investment income	(.28)	(.32)	(.26)	(.22)	(.19)
Net realized gains	(.93)	(.66)	(.36)	—	—
Total distributions	(1.21)	(.98)	(.62)	(.22)	(.19)
Net asset value, end of period	$ 19.40	$ 20.40	$ 19.01	$ 15.00	$ 13.19
Total Return (%)	.92^b	13.05^b	31.68^b	15.42	1.50
Ratios to Average Net Assets and Supplemental Data
Net assets, end of period ($ millions)	12	7	5	47	45
Ratio of expenses before expense reductions (%)	.67	.62	.59	.60	.58
Ratio of expenses after expense reductions (%)	.58	.58	.58	.60	.58
Ratio of net investment income (loss) (%)	1.53	1.45	2.11	1.70	1.49
Portfolio turnover rate (%)	3	3	4^c	4	6
^a Based on average shares outstanding during the period. ^b Total return would have been lower had certain expenses not been reduced. ^c Excludes portfolio securities delivered as a result of processing redemption in-kind transactions.

Class B2	Years Ended December 31,
Class B2	2015	2014	2013	2012	2011
Selected Per Share Data
Net asset value, beginning of period	$ 20.40	$ 18.99	$ 14.99	$ 13.18	$ 13.15
Income (loss) from investment operations: Net investment income (loss)^a	.28	.27	.23	.22	.18
Net realized and unrealized gain (loss)	(.10)	2.09	4.37	1.78	.02
Total from investment operations	.18	2.36	4.60	2.00	.20
Less distributions from: Net investment income	(.26)	(.29)	(.24)	(.19)	(.17)
Net realized gains	(.93)	(.66)	(.36)	—	—
Total distributions	(1.19)	(.95)	(.60)	(.19)	(.17)
Net asset value, end of period	$ 19.39	$ 20.40	$ 18.99	$ 14.99	$ 13.18
Total Return (%)	.76^b	13.00^b	31.44^b	15.26^b	1.43
Ratios to Average Net Assets and Supplemental Data
Net assets, end of period ($ millions)	17	19	20	19	18
Ratio of expenses before expense reductions (%)	.74	.74	.74	.75	.73
Ratio of expenses after expense reductions (%)	.68	.68	.72	.74	.73
Ratio of net investment income (loss) (%)	1.42	1.35	1.39	1.55	1.34
Portfolio turnover rate (%)	3	3	4^c	4	6
^a Based on average shares outstanding during the period. ^b Total return would have been lower had certain expenses not been reduced. ^c Excludes portfolio securities delivered as a result of processing redemption in-kind transactions.

Undistributed ordinary income	$ 11,085,462
Undistributed long-term capital gains	$ 39,563,699
Unrealized appreciation (depreciation) on investments	$ 209,619,788

First $1 billion of the Fund's average daily net assets	.200%
Next $1 billion of such net assets	.175%
Over $2 billion of such net assets	.150%

Distribution Service Fees	Total Aggregated	Unpaid at December 31, 2015
Class B	$ 25,872	$ 2,597
Class B2	44,983	3,669
	$ 70,855	$ 6,266

Services to Shareholders	Total Aggregated	Unpaid at December 31, 2015
Class A	$ 481	$ 79
Class B	91	14
Class B2	61	10
	$ 633	$ 103

Expenses and Value of a $1,000 Investment for the six months ended December 31, 2015
Actual Fund Return	Class A	Class B	Class B2
Beginning Account Value 7/1/15	$ 1,000.00	$ 1,000.00	$ 1,000.00
Ending Account Value 12/31/15	$ 1,000.50	$ 999.50	$ 998.50
Expenses Paid per $1,000*	$ 1.66	$ 2.92	$ 3.43
Hypothetical 5% Fund Return	Class A	Class B	Class B2
Beginning Account Value 7/1/15	$ 1,000.00	$ 1,000.00	$ 1,000.00
Ending Account Value 12/31/15	$ 1,023.54	$ 1,022.28	$ 1,021.78
Expenses Paid per $1,000^*	$ 1.68	$ 2.96	$ 3.47

Annualized Expense Ratios	Class A		Class B		Class B2
Deutsche Equity 500 Index VIP	.33%		.58%		.68%

Independent Board Members
Name, Year of Birth, Position with the Fund and Length of Time Served¹	Business Experience and Directorships During the Past Five Years	Number of Funds in Deutsche Fund Complex Overseen	Other Directorships Held by Board Member
Kenneth C. Froewiss (1945) Chairperson since 2013, and Board Member since 2001	Retired Clinical Professor of Finance, NYU Stern School of Business (1997–2014); Member, Finance Committee, Association for Asian Studies (2002–present); Director, Mitsui Sumitomo Insurance Group (US) (2004–present); prior thereto, Managing Director, J.P. Morgan (investment banking firm) (until 1996)	106	—
William McClayton (1944) Vice Chairperson since 2013, and Board Member since 2004	Private equity investor (since October 2009); previously, Managing Director, Diamond Management & Technology Consultants, Inc. (global consulting firm) (2001–2009); Directorship: Board of Managers, YMCA of Metropolitan Chicago; formerly: Senior Partner, Arthur Andersen LLP (accounting) (1966–2001); Trustee, Ravinia Festival	106	—
John W. Ballantine (1946) Board Member since 1999	Retired; formerly, Executive Vice President and Chief Risk Management Officer, First Chicago NBD Corporation/The First National Bank of Chicago (1996–1998); Executive Vice President and Head of International Banking (1995–1996); former Directorships: Director and former Chairman of the Board, Healthways, Inc.² (provider of disease and care management services) (2003–2014); Stockwell Capital Investments PLC (private equity); First Oak Brook Bancshares, Inc. and Oak Brook Bank; Prisma Energy International	106	Portland General Electric² (utility company) (2003– present)
Henry P. Becton, Jr. (1943) Board Member since 1990	Vice Chair and former President, WGBH Educational Foundation. Directorships: Public Radio International; Public Radio Exchange (PRX); former Directorships: Belo Corporation² (media company); The PBS Foundation; Association of Public Television Stations; Boston Museum of Science; American Public Television; Concord Academy; New England Aquarium; Mass. Corporation for Educational Telecommunications; Committee for Economic Development; Public Broadcasting Service; Connecticut College; North Bennett Street School (Boston)	106	Director, Becton Dickinson and Company² (medical technology company)
Dawn-Marie Driscoll (1946) Board Member since 1987	Emeritus Executive Fellow, Center for Business Ethics, Bentley University; formerly: President, Driscoll Associates (consulting firm); Partner, Palmer & Dodge (law firm) (1988–1990); Vice President of Corporate Affairs and General Counsel, Filene's (retail) (1978–1988). Directorships: Director of ICI Mutual Insurance Company (since 2007); Advisory Board, Center for Business Ethics, Bentley University; Trustee and former Chairman of the Board, Southwest Florida Community Foundation (charitable organization); former Directorships: Sun Capital Advisers Trust (mutual funds) (2007–2012), Investment Company Institute (audit, executive, nominating committees) and Independent Directors Council (governance, executive committees)	106	—
Keith R. Fox, CFA (1954) Board Member since 1996	Managing General Partner, Exeter Capital Partners (a series of private investment funds) (since 1986). Directorships: Progressive International Corporation (kitchen goods importer and distributor); The Kennel Shop (retailer); former Chairman, National Association of Small Business Investment Companies; former Directorships: BoxTop Media Inc. (advertising); Sun Capital Advisers Trust (mutual funds) (2011–2012)	106	—
Paul K. Freeman (1950) Board Member since 1993	Consultant, World Bank/Inter-American Development Bank; Chair, Independent Directors Council; Investment Company Institute (executive and nominating committees); formerly, Chairman of Education Committee of Independent Directors Council; Project Leader, International Institute for Applied Systems Analysis (1998–2001); Chief Executive Officer, The Eric Group, Inc. (environmental insurance) (1986–1998); Directorships: Denver Zoo Foundation (December 2012–present); former Directorships: Prisma Energy International	106	—
Richard J. Herring (1946) Board Member since 1990	Jacob Safra Professor of International Banking and Professor, Finance Department, The Wharton School, University of Pennsylvania (since July 1972); Co-Director, Wharton Financial Institutions Center; Co-Chair, U.S. Shadow Financial Regulatory Committee; Executive Director, Financial Economists Roundtable; formerly: Vice Dean and Director, Wharton Undergraduate Division (July 1995–June 2000); Director, Lauder Institute of International Management Studies (July 2000–June 2006)	106	Director, Aberdeen Singapore and Japan Funds (since 2007); Independent Director of Barclays Bank Delaware (since September 2010)
Rebecca W. Rimel (1951) Board Member since 1995	President and Chief Executive Officer, The Pew Charitable Trusts (charitable organization) (1994 to present); formerly: Executive Vice President, The Glenmede Trust Company (investment trust and wealth management) (1983–2004); Board Member, Investor Education (charitable organization) (2004–2005); Trustee, Executive Committee, Philadelphia Chamber of Commerce (2001–2007); Director, Viasys Health Care² (January 2007–June 2007); Trustee, Thomas Jefferson Foundation (charitable organization) (1994–2012)	106	Director, Becton Dickinson and Company² (medical technology company) (2012– present); Director, BioTelemetry Inc.² (health care) (2009– present)
William N. Searcy, Jr. (1946) Board Member since 1993	Private investor since October 2003; formerly: Pension & Savings Trust Officer, Sprint Corporation² (telecommunications) (November 1989–September 2003); Trustee, Sun Capital Advisers Trust (mutual funds) (1998–2012)	106	—
Jean Gleason Stromberg (1943) Board Member since 1997	Retired. Formerly, Consultant (1997–2001); Director, Financial Markets U.S. Government Accountability Office (1996–1997); Partner, Norton Rose Fulbright, L.L.P. (law firm) (1978–1996). Directorships: The William and Flora Hewlett Foundation (charitable organization); former Directorships: Service Source, Inc. (nonprofit), Mutual Fund Directors Forum (2002–2004), American Bar Retirement Association (funding vehicle for retirement plans) (1987–1990 and 1994–1996)	106	—

Officers⁴
Name, Year of Birth, Position with the Fund and Length of Time Served⁵	Business Experience and Directorships During the Past Five Years
Brian E. Binder⁸(1972) President and Chief Executive Officer, 2013–present	Managing Director³ and Head of Fund Administration, Deutsche Asset Management (2013–present); formerly: Head of Business Management and Consulting at Invesco, Ltd. (2010–2012)
John Millette⁷ (1962) Vice President and Secretary, 1999–present	Director,³ Deutsche Asset Management; Chief Legal Officer and Secretary, Deutsche Investment Management Americas Inc. (since 2015); and Director and Vice President, DeAWM Trust Company (since 2016)
Melinda Morrow⁶ (1970) Vice President, 2012–present	Director,³ Deutsche Asset Management
Paul H. Schubert⁶ (1963) Chief Financial Officer, 2004–present Treasurer, 2005–present	Managing Director,³ Deutsche Asset Management; and Chairman, Director and President, DeAWM Trust Company (since 2013); formerly, Director, DeAWM Trust Company (2004–2013)
Caroline Pearson⁷ (1962) Chief Legal Officer, 2010–present	Managing Director,³ Deutsche Asset Management; Secretary, DeAWM Distributors, Inc; and Secretary, DeAWM Service Company
Robert Kloby⁶ (1962) Chief Compliance Officer, 2006–present	Managing Director,³ Deutsche Asset Management
Wayne Salit⁶ (1967) Anti-Money Laundering Compliance Officer, 2014–present	Director,³ Deutsche Asset Management; formerly: Managing Director, AML Compliance Officer at BNY Mellon (2011–2014); and Director, AML Compliance Officer at Deutsche Bank (2004–2011)
Hepsen Uzcan⁶ (1974) Assistant Secretary, 2013–present	Director,³ Deutsche Asset Management
Paul Antosca⁷ (1957) Assistant Treasurer, 2007–present	Director,³ Deutsche Asset Management
Jack Clark⁷ (1967) Assistant Treasurer, 2007–present	Director,³ Deutsche Asset Management
Diane Kenneally⁷(1966) Assistant Treasurer, 2007–present	Director,³ Deutsche Asset Management


ITEM 2.	CODE OF ETHICS

	As of the end of the period covered by this report, the registrant has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its Principal Executive Officer and Principal Financial Officer. There have been no amendments to, or waivers from, a provision of the code of ethics during the period covered by this report that would require disclosure under Item 2. A copy of the code of ethics is filed as an exhibit to this Form N-CSR.

ITEM 3.	AUDIT COMMITTEE FINANCIAL EXPERT

	The fund’s audit committee is comprised solely of trustees who are "independent" (as such term has been defined by the Securities and Exchange Commission ("SEC") in regulations implementing Section 407 of the Sarbanes-Oxley Act (the "Regulations")). The fund’s Board of Trustees has determined that there are several "audit committee financial experts" (as such term has been defined by the Regulations) serving on the fund’s audit committee including Mr. Paul K. Freeman, the chair of the fund’s audit committee. An “audit committee financial expert” is not an “expert” for any purpose, including for purposes of Section 11 of the Securities Act of 1933 and the designation or identification of a person as an “audit committee financial expert” does not impose on such person any duties, obligations or liability that are greater than the duties, obligations and liability imposed on such person as a member of the audit committee and board of directors in the absence of such designation or identification.

ITEM 4.	PRINCIPAL ACCOUNTANT FEES AND SERVICES

Fiscal Year Ended December 31,	Audit Fees Billed to Fund	Audit-Related Fees Billed to Fund	Tax Fees Billed to Fund	All Other Fees Billed to Fund
2015	$50,722	$0	$0	$0
2014	$49,382	$0	$0	$0

Fiscal Year Ended December 31,	Audit-Related Fees Billedto Adviser and Affiliated Fund Service Providers	Tax Fees Billed to Adviser and Affiliated Fund Service Providers	All Other Fees Billed to Adviser and Affiliated Fund Service Providers
2015	$0	$30,661	$0
2014	$0	$63,439	$0


ITEM 5.	AUDIT COMMITTEE OF LISTED REGISTRANTS

	Not applicable

ITEM 6.	SCHEDULE OF INVESTMENTS

	Not applicable

ITEM 7.	DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES

	Not applicable

ITEM 8.	PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES

	Not applicable

ITEM 9.	PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS

	Not applicable

ITEM 10.	SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

	There were no material changes to the procedures by which shareholders may recommend nominees to the Fund’s Board. The primary function of the Nominating and Governance Committee is to identify and recommend individuals for membership on the Board and oversee the administration of the Board Governance Guidelines. Shareholders may recommend candidates for Board positions by forwarding their correspondence by U.S. mail or courier service to Kenneth C. Froewiss, Independent Chairman, Deutsche Mutual Funds, P.O. Box 390601, Cambridge, MA 02139.

ITEM 11.	CONTROLS AND PROCEDURES

	(a)	The Chief Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.

	(b)	There have been no changes in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal controls over financial reporting.

ITEM 12.	EXHIBITS

	(a)(1)	Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH.

	(a)(2)	Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.

Registrant:	Deutsche Equity 500 Index VIP, a series of Deutsche Investments VIT Funds


By:	/s/Brian E. Binder Brian E. Binder President

Date:	February 22, 2016

1)	I have reviewed this report, filed on behalf of Deutsche Equity 500 Index VIP, a series of Deutsche Investments VIT Funds, on Form N-CSR;

2)	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3)	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4)	The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

	a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	c)	Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

	d)	Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5)	The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

	a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

	b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

February 22, 2016	/s/Paul Schubert
	Paul Schubert
	Chief Financial Officer and Treasurer

1.	I have reviewed this report, filed on behalf of Deutsche Equity 500 Index VIP, a series of Deutsche Investments VIT Funds, on Form N-CSR;

2.	Based on my knowledge and pursuant to 18 U.S.C. § 1350, the periodic report on Form N-CSR (the “Report”) fully complies with the requirements of § 13 (a) or § 15 (d), as applicable, of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.