-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JhrleIKbUKw7Zs5Aa7lWLxYD7quBPqdpTNLmM6Xo6382x0zkzP9oiW6QiMo0Bzmc OV/e9nR/RnQMxDxDwcidYQ== 0000088053-08-000392.txt : 20080403 0000088053-08-000392.hdr.sgml : 20080403 20080403170911 ACCESSION NUMBER: 0000088053-08-000392 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20080403 DATE AS OF CHANGE: 20080403 EFFECTIVENESS DATE: 20080403 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DWS INSTITUTIONAL FUNDS CENTRAL INDEX KEY: 0000862157 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-34079 FILM NUMBER: 08738236 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 212-454-6778 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER INSTITUTIONAL FUNDS DATE OF NAME CHANGE: 20030519 FORMER COMPANY: FORMER CONFORMED NAME: BT INSTITUTIONAL FUNDS DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DWS COMMUNICATIONS FUND, INC. CENTRAL INDEX KEY: 0000731129 IRS NUMBER: 521319644 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-87336 FILM NUMBER: 08738240 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 212-454-6778 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: DWS COMMUNICATIONS FUND DATE OF NAME CHANGE: 20060207 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER FLAG INVESTORS COMMUNICATIONS FUND INC DATE OF NAME CHANGE: 20030519 FORMER COMPANY: FORMER CONFORMED NAME: FLAG INVESTORS COMMUNICATIONS FUND INC DATE OF NAME CHANGE: 19980430 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DWS ADVISOR FUNDS CENTRAL INDEX KEY: 0000797657 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-07404 FILM NUMBER: 08738241 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 212-454-6778 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER ADVISOR FUNDS DATE OF NAME CHANGE: 20030519 FORMER COMPANY: FORMER CONFORMED NAME: BT INVESTMENT FUNDS DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: BT TAX FREE INVESTMENT TRUST DATE OF NAME CHANGE: 19880530 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DWS VALUE EQUITY TRUST CENTRAL INDEX KEY: 0000088051 IRS NUMBER: 132578688 FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-78724 FILM NUMBER: 08738243 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 212-454-6778 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: VALUE EQUITY TRUST DATE OF NAME CHANGE: 19980605 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER EQUITY TRUST DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER CAPITAL GROWTH FUND INC DATE OF NAME CHANGE: 19880411 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DWS STATE TAX FREE TRUST CENTRAL INDEX KEY: 0000720245 IRS NUMBER: 042794035 STATE OF INCORPORATION: MA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-84021 FILM NUMBER: 08738247 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 617-295-2578 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: DWS STATE TAX-FREE TRUST DATE OF NAME CHANGE: 20060406 FORMER COMPANY: FORMER CONFORMED NAME: DWS STATE TAX FREE TRUST DATE OF NAME CHANGE: 20060207 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER STATE TAX FREE TRUST DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DWS SECURITIES TRUST CENTRAL INDEX KEY: 0000088048 IRS NUMBER: 132661231 FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-36238 FILM NUMBER: 08738248 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 212-454-6778 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER SECURITIES TRUST DATE OF NAME CHANGE: 19950908 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER DEVELOPMENT FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER AM FUND DATE OF NAME CHANGE: 19710112 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DWS MONEY MARKET TRUST CENTRAL INDEX KEY: 0000703642 IRS NUMBER: 133120601 STATE OF INCORPORATION: MA FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-78122 FILM NUMBER: 08738252 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 212-454-6778 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER MONEY MARKET TRUST DATE OF NAME CHANGE: 20000531 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: LAZARD FRERES FUNDS INC DATE OF NAME CHANGE: 19890904 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DWS INVESTORS FUNDS, INC. CENTRAL INDEX KEY: 0001039826 IRS NUMBER: 232905982 STATE OF INCORPORATION: MD FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-07008 FILM NUMBER: 08738253 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 212-454-6778 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER INVESTORS FUNDS INC DATE OF NAME CHANGE: 20030519 FORMER COMPANY: FORMER CONFORMED NAME: DEUTSCHE INVESTORS FUNDS INC DATE OF NAME CHANGE: 20010503 FORMER COMPANY: FORMER CONFORMED NAME: FLAG INVESTORS FUNDS INC DATE OF NAME CHANGE: 20000118 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DWS INTERNATIONAL FUND, INC. CENTRAL INDEX KEY: 0000088053 IRS NUMBER: 132827803 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-14400 FILM NUMBER: 08738235 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 212-454-6778 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER INTERNATIONAL FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER INTERNATIONAL INVESTMENTS LTD DATE OF NAME CHANGE: 19761203 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DWS EQUITY PARTNERS FUND, INC. CENTRAL INDEX KEY: 0000933402 IRS NUMBER: 521912412 STATE OF INCORPORATION: MD FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-86832 FILM NUMBER: 08738239 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 212-454-6778 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: DWS EQUITY PARTNERS FUND DATE OF NAME CHANGE: 20060207 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER FLAG INVESTORS EQUITY PARTNERS FUND INC DATE OF NAME CHANGE: 20030519 FORMER COMPANY: FORMER CONFORMED NAME: FLAG INVESTORS EQUITY PARTNERS FUND INC DATE OF NAME CHANGE: 19941202 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CASH RESERVE FUND INC CENTRAL INDEX KEY: 0000353447 IRS NUMBER: 621223991 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-72658 FILM NUMBER: 08738242 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 212-454-6778 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: DEUTSCHE BANC ALEX BROWN CASH RESERVE FUND INC DATE OF NAME CHANGE: 19990806 FORMER COMPANY: FORMER CONFORMED NAME: BT ALEX BROWN CASH RESERVE FUND INC DATE OF NAME CHANGE: 19970827 FORMER COMPANY: FORMER CONFORMED NAME: BROWN ALEX CASH RESERVE FUND INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DWS VALUE BUILDER FUND, INC. CENTRAL INDEX KEY: 0000885111 IRS NUMBER: 521772203 STATE OF INCORPORATION: MD FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-46279 FILM NUMBER: 08738244 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 212-454-6778 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: DWS VALUE BUILDER FUND DATE OF NAME CHANGE: 20060207 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER FLAG INVESTORS VALUE BUILDER FUND INC DATE OF NAME CHANGE: 20030519 FORMER COMPANY: FORMER CONFORMED NAME: FLAG INVESTORS VALUE BUILDER FUND INC DATE OF NAME CHANGE: 19920929 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DWS PORTFOLIO TRUST CENTRAL INDEX KEY: 0000088063 IRS NUMBER: 046013018 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-13627 FILM NUMBER: 08738249 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 212-454-6778 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER PORTFOLIO TRUST/ DATE OF NAME CHANGE: 19930305 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER INCOME FUND DATE OF NAME CHANGE: 19921109 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER STEVENS & CLARK BALANCED FUND INC DATE OF NAME CHANGE: 19770604 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DWS INVESTMENT TRUST CENTRAL INDEX KEY: 0000088064 IRS NUMBER: 042212654 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-13628 FILM NUMBER: 08738254 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 212-454-6778 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: INVESTMENT TRUST DATE OF NAME CHANGE: 19980529 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER INVESTMENT TRUST DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER GROWTH & INCOME FUND DATE OF NAME CHANGE: 19910402 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DWS GLOBAL/INTERNATIONAL FUND, INC. CENTRAL INDEX KEY: 0000793597 IRS NUMBER: 000000000 FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-05724 FILM NUMBER: 08738238 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 212-454-6778 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: GLOBAL/INTERNATIONAL FUND INC DATE OF NAME CHANGE: 19980605 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER GLOBAL FUND INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DWS MUTUAL FUNDS, INC. CENTRAL INDEX KEY: 0000832946 IRS NUMBER: 000000000 FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-22059 FILM NUMBER: 08738250 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 212-454-6778 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER MUTUAL FUNDS INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DWS INCOME TRUST CENTRAL INDEX KEY: 0000747677 IRS NUMBER: 000000000 FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-91577 FILM NUMBER: 08738237 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 212-454-6778 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER INCOME TRUST DATE OF NAME CHANGE: 20000616 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DWS MUNICIPAL TRUST CENTRAL INDEX KEY: 0000203142 IRS NUMBER: 046396607 STATE OF INCORPORATION: MA FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-57139 FILM NUMBER: 08738251 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 212-454-6778 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER MUNICIPAL TRUST DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER MANAGED MUNICIPAL BONDS DATE OF NAME CHANGE: 19880302 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DWS TAX FREE TRUST CENTRAL INDEX KEY: 0000711600 IRS NUMBER: 042782118 STATE OF INCORPORATION: MA FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-81105 FILM NUMBER: 08738245 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 212-454-6778 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER TAX FREE TRUST DATE OF NAME CHANGE: 19930909 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER TAX FREE TARGET FUND DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DWS TARGET DATE SERIES CENTRAL INDEX KEY: 0000926425 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-86070 FILM NUMBER: 08738246 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 212-454-6778 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: DWS ALLOCATION SERIES DATE OF NAME CHANGE: 20060207 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER PATHWAY SERIES /NEW/ DATE OF NAME CHANGE: 19970819 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER PRIME FUND DATE OF NAME CHANGE: 19940706 0000088048 S000006103 DWS Health Care Fund C000016782 Class A SUHAX C000016784 Class B SUHBX C000016785 Class C SUHCX C000016786 Class S SCHLX C000016787 Institutional Class SUHIX 0000088048 S000006104 DWS Small Cap Value Fund C000016788 Class A SAAUX C000016789 Class B SABUX C000016790 Class C SACUX C000016791 Class S SCSUX 0000088048 S000018771 DWS Climate Change Fund C000051934 Class A C000051935 Class C C000051936 Class S C000051937 Institutional Class 0000088051 S000006157 DWS Enhanced S&P 500 Index Fund C000016972 Class A OUTDX C000016974 Class B OUTBX C000016975 Class C OUTCX C000016976 Class R OUTRX C000016977 Class S SSFFX 0000088051 S000006158 DWS Equity Income Fund C000016978 Class A SDDAX C000016979 Class B SDDBX C000016980 Class C SDDCX C000016981 Class S SDDSX C000016982 Institutional Class SDDGX 0000088053 S000006028 DWS Emerging Markets Equity Fund C000016557 Class A SEKAX C000016559 Class B SEKBX C000016560 Class C SEKCX C000016561 Class S SEMGX C000063926 Institutional Class 0000088053 S000006029 DWS Europe Equity Fund C000016562 Class A SERAX C000016564 Class B SERBX C000016565 Class C SERCX C000016566 Class S SCGEX C000016567 Institutional Class SERNX 0000088053 S000006030 DWS International Fund C000016568 Class A SUIAX C000016570 Class B SUIBX C000016571 Class C SUICX C000016572 Class S SCINX C000016573 Institutional Class SUIIX 0000088053 S000006031 DWS Latin America Equity Fund C000016574 Class A SLANX C000016576 Class B SLAOX C000016577 Class C SLAPX C000016579 Class S SLAFX 0000088053 S000012354 DWS International Value Opportunities Fund C000033588 Class A C000033589 Class C C000033590 Class S C000033591 Institutional Fund 0000088063 S000006101 DWS Core Plus Income Fund C000016770 Class A SZIAX C000016772 Class B SZIBX C000016773 Class C SZICX C000016774 Class S SCSBX C000016775 Institutional Class SZIIX 0000088063 S000017996 DWS Floating Rate Plus Fund C000049879 Class A C000049880 Class C C000049881 Class S C000049882 Institutional Class 0000088064 S000005705 DWS Capital Growth Fund C000015670 Class A SDGAX C000015672 Class B SDGBX C000015673 Class C SDGCX C000015674 Class R SDGRX C000015675 Class S SCGSX C000015676 Institutional Class SDGTX 0000088064 S000005706 DWS Growth & Income Fund C000015677 Class A SUWAX C000015679 Class B SUWBX C000015680 Class C SUWCX C000015682 Class S SCDGX C000015683 Institutional Class SUWIX 0000088064 S000005707 DWS Large Company Growth Fund C000015684 Class A SGGAX C000015686 Class B SGGBX C000015687 Class C SGGCX C000015689 Class S SCQGX C000015690 Institutional Class SGGIX 0000088064 S000005708 DWS S&P 500 Index Fund C000015691 Class A SXPAX C000015693 Class B SXPBX C000015694 Class C SXPCX C000015695 Class S SCPIX 0000088064 S000005709 DWS Small Cap Core Fund C000015696 Class A SZCAX C000015698 Class B SZCBX C000015699 Class C SZCCX C000015700 Class S SSLCX 0000203142 S000006094 DWS Strategic High Yield Tax-Free Fund C000016734 Class A NOTAX C000016736 Class B NOTBX C000016737 Class C NOTCX C000016738 Class S SHYTX C000016739 Institutional Class NOTIX 0000203142 S000006095 DWS Managed Municipal Bond Fund C000016740 Class A SMLAX C000016742 Class B SMLBX C000016743 Class C SMLCX C000016744 Class S SCMBX C000016745 Institutional Class SMLIX 0000353447 S000006304 Prime Series C000017351 Prime Shares C000017352 Prime Institutional Shares 0000703642 S000006076 DWS Money Market Series C000016694 Institutional Shares ICAXX C000016695 Managed Shares MCAXX C000016697 Premium Class S SPMXX C000016699 Prime Reserve Class S SCRXX 0000711600 S000006133 DWS Intermediate Tax/AMT Free Fund C000016867 Class A SZMAX C000016869 Class B SZMBX C000016870 Class C SZMCX C000016871 Class S SCMTX C000016872 Institutional Class SZMIX 0000720245 S000006105 DWS Massachusetts Tax-Free Fund C000016792 Class A SQMAX C000016793 Class B SQMBX C000016794 Class C SQMCX C000016795 Class S SCMAX 0000731129 S000005938 DWS Communications Fund C000016369 Class A TISHX C000016370 Class B FTEBX C000016371 Class C FTICX C000016372 Institutional Class FLICX 0000747677 S000005964 DWS GNMA Fund C000016427 Class S SGINX 0000793597 S000005466 DWS Emerging Markets Fixed Income Fund C000014875 Class A SZEAX C000014877 Class B SZEBX C000014878 Class C SZECX C000014879 Class S SCEMX C000063958 Institutional Class 0000793597 S000005467 DWS Global Bond Fund C000014880 Class A SZGAX C000014882 Class B SZGBX C000014883 Class C SZGCX C000014884 Class S SSTGX 0000793597 S000005468 DWS Global Opportunities Fund C000014885 Class A KGDAX C000014887 Class B KGDBX C000014888 Class C KGDCX C000014889 Class S SGSCX 0000793597 S000005469 DWS Global Thematic Fund C000014890 Class A SGQAX C000014892 Class B SGQBX C000014893 Class C SGQCX C000014894 Class R SGQRX C000014895 Class S SCOBX 0000797657 S000005728 DWS Short Duration Plus Fund C000015725 Class A PPIAX C000015726 Class C PPLCX C000015727 Class S DBPIX C000043778 Class B 0000797657 S000005729 DWS Mid Cap Growth Fund C000015728 Class A SMCAX C000015730 Class B SMCBX C000015731 Class C SMCCX C000015733 Class S SMCSX C000015734 Institutional Class BTEAX 0000797657 S000005730 NY Tax Free Money Fund C000015736 Investment Class BNYXX C000035515 Tax-Exempt New York Money Market Fund Class 0000797657 S000005731 DWS Small Cap Growth Fund C000015737 Class A SSDAX C000015739 Class B SSDBX C000015740 Class C SSDCX C000015742 Class S SSDSX C000015743 Institutional Class SSDIX 0000797657 S000005732 Tax Free Money Fund Investment C000015745 Investment Class BTXXX 0000797657 S000012353 DWS RREEF Global Real Estate Securities Fund C000033584 Class A C000033585 Class C C000033586 Class S C000033587 Institutional Class 0000797657 S000012424 DWS Lifecycle Long Range Fund C000033699 Institutional Class C000033700 Class S BTILX 0000797657 S000012425 DWS Micro Cap Fund C000033701 Class A C000033702 Class B C000033703 Class C C000033704 Class S C000033705 Institutional Class 0000797657 S000012426 DWS Core Fixed Income Fund C000033707 Class A C000033708 Class B C000033709 Class C C000033710 Class R C000033711 Class S C000033712 Institutional Class 0000797657 S000012427 DWS High Income Plus Fund C000033714 Class A C000033715 Class B C000033716 Class C C000033718 Class S C000033719 Institutional Class 0000797657 S000012428 DWS International Select Equity Fund C000033722 Class A C000033723 Class B C000033724 Class C C000033725 Class R C000033726 Class S C000033727 Institutional Class 0000797657 S000012429 DWS Short Duration Fund C000033730 Class A C000033731 Class B C000033732 Class C C000033733 Class S C000033734 Institutional Class 0000797657 S000012430 DWS Short Term Municipal Bond Fund C000033735 Class A C000033736 Class B C000033737 Class C C000033738 Class S C000033739 Institutional Class 0000797657 S000012431 DWS RREEF Real Estate Securities Fund C000033741 Class A C000033742 Class B C000033743 Class C C000033744 Class R C000033745 Class S C000033746 Institutional Class 0000832946 S000006096 DWS Gold & Precious Metals Fund C000016746 Class A SGDAX C000016748 Class B SGDBX C000016749 Class C SGDCX C000016750 Class S SCGDX C000063733 Institutional Class 0000862157 S000005956 Cash Management Fund Institutional C000016410 Cash Management Fund Institutional BICXX 0000862157 S000005957 Cash Reserves Fund Institutional C000016411 Cash Reserves Fund Institutional BIRXX 0000862157 S000005958 Daily Assets Fund Institutional C000016412 Daily Assets Fund Institutional 0000862157 S000005959 DWS Equity 500 Index Fund C000016413 Class S BTIEX C000016414 Institutional Class BTIIX 0000862157 S000005961 DWS Commodity Securities Fund C000016416 Class A SKNRX C000016417 Class B SKBRX C000016418 Class C SKCRX C000016419 Class S SKSRX C000016420 Institutional Class SKIRX 0000862157 S000005962 DWS Inflation Protected Plus Fund C000016421 Class A TIPAX C000016422 Class B TIPTX C000016423 Class C TIPCX C000016424 Class S TIPSX C000016425 Institutional Class TIPIX 0000862157 S000012410 DWS EAFE Equity Index Fund C000033661 Institutional Class 0000862157 S000012411 DWS U.S. Bond Index Fund C000033662 Institutional Class 0000885111 S000005940 DWS Value Builder Fund C000016377 Class A FLVBX C000016378 Class B FVBBX C000016379 Class C FVBCX C000016380 Institutional Class FLIVX 0000926425 S000006097 DWS LifeCompass Retirement Fund C000016751 Class A SUCAX C000016753 Class B SUCBX C000016754 Class C SUCCX C000016755 Class S SCPCX 0000926425 S000006098 DWS LifeCompass 2030 Fund C000016756 Class A PLUSX C000016757 Class B PLSBX C000016758 Class C PLSCX C000016759 Class S PPLSX 0000926425 S000006099 DWS LifeCompass 2020 Fund C000016760 Class A SUPAX C000016762 Class B SUPBX C000016763 Class C SUPCX C000016764 Class S SPGRX 0000926425 S000006100 DWS LifeCompass 2015 Fund C000016765 Class A SPDAX C000016767 Class B SPDBX C000016768 Class C SPDCX C000016769 Class S SPBAX 0000926425 S000019563 DWS LifeCompass 2040 Fund C000054366 Class A C000054367 Class C C000054368 Class S 0000933402 S000005939 DWS Equity Partners Fund C000016373 Class A FLEPX C000016374 Class B FEPBX C000016375 Class C FEPCX C000016376 Institutional Class FLIPX 0001039826 S000006054 DWS Japan Equity Fund C000016623 Class A FJEAX C000016624 Class B FJEBX C000016625 Class C FJECX C000016626 Class S FJESX 497 1 ss040308ny_retail.htm 497 - SAI STICKER

SUPPLEMENT TO THE CURRENTLY EFFECTIVE STATEMENTS OF ADDITIONAL INFORMATION FOR EACH OF THE LISTED FUNDS

 

 

Cash Reserve Fund, Inc.

DWS International Fund, Inc.

Prime Series

DWS Emerging Markets Equity Fund

DWS Advisor Funds

DWS Europe Equity Fund

DWS Core Fixed Income Fund

DWS International Fund

DWS High Income Plus Fund

DWS International Value Opportunities Fund

DWS International Select Equity Fund

DWS Latin America Equity Fund

DWS Lifecycle Long Range Fund

DWS Investment Trust

DWS Micro Cap Fund

DWS Capital Growth Fund

DWS Mid Cap Growth Fund

DWS Growth & Income Fund

DWS RREEF Global Real Estate Securities Fund

DWS Large Company Growth Fund

DWS RREEF Real Estate Securities Fund

DWS S&P 500 Index Fund

DWS Short Duration Fund

DWS Small Cap Core Fund

DWS Short Duration Plus Fund

DWS Investors Funds, Inc.

DWS Short-Term Municipal Bond Fund

DWS Japan Equity Fund

DWS Small Cap Growth Fund

DWS Money Market Trust

NY Tax Free Money Fund

DWS Money Market Series

Tax Free Money Fund Investment

DWS Municipal Trust

DWS Communications Fund, Inc.

DWS Strategic High Yield Tax-Free Fund

DWS Communications Fund

DWS Managed Municipal Bond Fund

DWS Equity Partners Fund, Inc.

DWS Mutual Funds, Inc.

DWS Equity Partners Fund

DWS Gold & Precious Metals Fund

DWS Global/International Fund, Inc.

DWS Portfolio Trust

DWS Emerging Markets Fixed Income Fund

DWS Core Plus Income Fund

DWS Global Bond Fund

DWS Floating Rate Plus Fund

DWS Global Opportunities Fund

DWS Securities Trust

DWS Global Thematic Fund

DWS Climate Change Fund

DWS Income Trust

DWS Health Care Fund

DWS GNMA Fund

DWS Small Cap Value Fund

DWS Institutional Funds

DWS State Tax Free Trust

Cash Management Fund Institutional

DWS Massachusetts Tax-Free Fund

Cash Reserves Fund Institutional

DWS Target Date Series

Daily Assets Fund Institutional

DWS LifeCompass Retirement Fund

DWS Commodity Securities Fund

DWS LifeCompass 2015 Fund

DWS EAFE Equity Index Fund

DWS LifeCompass 2020 Fund

DWS Equity 500 Index Fund

DWS LifeCompass 2030 Fund

DWS Inflation Protected Plus Fund

DWS LifeCompass 2040 Fund

DWS U.S. Bond Index Fund

DWS Tax Free Trust

 

DWS Intermediate Tax/AMT Free Fund

 

DWS Value Builder Fund, Inc.

 

DWS Value Builder Fund

 

DWS Value Equity Trust

 

DWS Enhanced S&P 500 Index Fund

 

DWS Equity Income Fund

 

 

 

The following replaces the relevant disclosure with respect to the Board under Trustees and Officers or Directors and Officers, as applicable:

 

BOARD MEMBERS AND OFFICERS

The following table presents certain information regarding the Board Members of the Funds. Each Board Member’s year of birth is set forth in parentheses after his or her name. Unless otherwise noted, (i) each Board Member has engaged in the principal occupation(s) noted in the table for at least the most recent five years, although not necessarily in the same capacity, and (ii) the address of each Board Member that is not an “interested person” (as defined in the 1940 Act) of the Funds or the Advisor (each, an “Independent Board Member”), is c/o Dawn-Marie Driscoll, PO Box 100176, Cape Coral, FL 33904. The term of office for each Board Member is until the election and qualification of a successor, or until such Board Member sooner dies, resigns, is removed or as otherwise provided in the governing documents of the Funds. Because the Funds do not hold an annual meeting of shareholders, each Board Member will hold office for an indeterminate period. The Board Members may also serve in similar capacities with other funds in the DWS fund complex.

Independent Board Members

 

Name, Year of Birth, Position with the Funds and Length of Time Served(1)

Business Experience and
Directorships During the Past 5 Years

Number of Funds in DWS Fund Complex Overseen

Dawn-Marie Driscoll (1946)
Chairperson since 2004,(2) and Board Member since 1987

President, Driscoll Associates (consulting firm); Executive Fellow, Center for Business Ethics, Bentley College; formerly, Partner, Palmer & Dodge (1988-1990); Vice President of Corporate Affairs and General Counsel, Filene’s (1978-1988). Directorships: Trustee of 8 open-end mutual funds managed by Sun Capital Advisers, Inc. (since 2007); Director of ICI Mutual Insurance Company (since 2007); Advisory Board, Center for Business Ethics, Bentley College; Trustee, Southwest Florida Community Foundation (charitable organization); Former Directorships: Investment Company Institute (audit, executive, nominating committees) and Independent Directors Council (governance, executive committees)

135

Paul K. Freeman

(1950)
Vice Chairperson since 2008, and Board Member since 1993

Consultant, World Bank/Inter-American Development Bank; formerly, Project Leader, International Institute for Applied Systems Analysis (1998-2001); Chief Executive Officer, The Eric Group, Inc. (environmental insurance) (1986-1998)

133

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). Directorships: Healthways Inc. (provider of disease and care management services); Portland General Electric (utility company); Stockwell Capital Investments PLC (private equity). Former Directorships: First Oak Brook Bancshares, Inc. and Oak Brook Bank

135

Henry P. Becton, Jr. (1943)
Board Member since
1990

Vice Chair, WGBH Educational Foundation. Directorships: Association of Public Television Stations; Becton Dickinson and Company(3) (medical technology company); Belo Corporation(3) (media company); Boston Museum of Science; Public Radio International. Former Directorships: American Public Television; Concord Academy; New England Aquarium; Mass. Corporation for Educational Telecommunications; Committee for Economic Development; Public Broadcasting Service

135

 

 

 

Keith R. Fox (1954)
Board Member since
1996

Managing General Partner, Exeter Capital Partners (a series of private equity funds). Directorships: Progressive Holding Corporation (kitchen goods importer and distributor); Natural History, Inc. (magazine publisher); Box Top Media Inc. (advertising); The Kennel Shop (retailer)

135

Kenneth C. Froewiss
(1945)
Board Member since
2001

Clinical Professor of Finance, NYU Stern School of Business (1997-present); 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)

135

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 (since July 2000); Director, Japan Equity Fund, Inc. (since September 2007), Thai Capital Fund, Inc. (since September 2007), Singapore Fund, Inc. (since September 2007). Formerly, Vice Dean and Director, Wharton Undergraduate Division (July 1995-June 2000); Director, Lauder Institute of International Management Studies (July 2000-June 2006)

135

William McClayton (1944)
Board Member since 2004

Chief Administrative Officer, Diamond Management & Technology Consultants, Inc. (global management consulting firm) (2001-present); formerly, Senior Partner, Arthur Andersen LLP (accounting) (1966-2001). Directorship: Board of Managers, YMCA of Metropolitan Chicago. Formerly Trustee, Ravinia Festival

135

Rebecca W. Rimel
(1951)
Board Member since
1995

President and Chief Executive Officer, The Pew Charitable Trusts (charitable organization) (1994 to present); Trustee, Thomas Jefferson Foundation (charitable organization) (1994 to present); Trustee, Executive Committee, Philadelphia Chamber of Commerce (2001 to present). Formerly, Executive Vice President, The Glenmede Trust Company (investment trust and wealth management) (1983 to 2004); Board Member, Investor Education (charitable organization) (2004-2005); Director, Viasys Health Care(3) (January 2007-June 2007)

135

William N. Searcy, Jr.
(1946)
Board Member since
1993

Private investor since October 2003; Trustee of 8 open-end mutual funds managed by Sun Capital Advisers, Inc. (since October 1998). Formerly, Pension & Savings Trust Officer, Sprint Corporation(3) (telecommunications) (November 1989-September 2003)

135

Jean Gleason Stromberg
(1943)
Board Member since
1997

Retired. Formerly, Consultant (1997-2001); Director, US Government Accountability Office (1996-1997); Partner, Fulbright & Jaworski, L.L.P. (law firm) (1978-1996). Directorships: The William and Flora Hewlett Foundation; Service Source, Inc. Former Directorships: Mutual Fund Directors Forum (2002-2004), American Bar Retirement Association (funding vehicle for retirement plans) (1987-1990 and 1994-1996)

135

Robert H. Wadsworth (1940)
Board Member since 1999

President, Robert H. Wadsworth & Associates, Inc. (consulting firm) (1983 to present).

138

 

 

Interested Board Member

 

Name, Year of Birth, Position with the Funds and Length of Time Served(1)

Business Experience and
Directorships During the Past 5 Years

Number of Funds in DWS Fund Complex Overseen

Axel Schwarzer(4)
(1958)
Board Member since
2006

Managing Director(5), Deutsche Asset Management; Head of Deutsche Asset Management Americas; CEO of DWS Scudder; formerly, board member of DWS Investments, Germany (1999-2005); formerly, Head of Sales and Product Management for the Retail and Private Banking Division of Deutsche Bank in Germany (1997-1999); formerly, various strategic and operational positions for Deutsche Bank Germany Retail and Private Banking Division in the field of investment funds, tax driven instruments and asset management for corporates (1989-1996)

135

Officers(6)

 

Name, Year of Birth, Position with the Funds and Length of Time Served(7)

Business Experience and
Directorships During the Past 5 Years

Michael G. Clark(8) (1965)
President, 2006-present

Managing Director(5), Deutsche Asset Management (2006-present); President of DWS family of funds; Director, ICI Mutual Insurance Company (since October 2007); formerly, Director of Fund Board Relations (2004-2006) and Director of Product Development (2000-2004), Merrill Lynch Investment Managers; Senior Vice President Operations, Merrill Lynch Asset Management (1999-2000)

John Millette(9) (1962)
Vice President and Secretary, 1999-present

Director(5), Deutsche Asset Management

Paul H. Schubert(8) (1963)
Chief Financial Officer, 2004-present
Treasurer, 2005-present

Managing Director(5), Deutsche Asset Management (since July 2004); formerly, Executive Director, Head of Mutual Fund Services and Treasurer for UBS Family of Funds (1998-2004); Vice President and Director of Mutual Fund Finance at UBS Global Asset Management (1994-1998)

Patricia DeFilippis(8) (1963)
Assistant Secretary, 2005-present

Vice President, Deutsche Asset Management (since June 2005); formerly, Counsel, New York Life Investment Management LLC (2003-2005); legal associate, Lord, Abbett & Co. LLC (1998-2003)

Elisa D. Metzger(8) (1962)
Assistant Secretary, 2005-present

Director(5), Deutsche Asset Management (since September 2005); formerly, Counsel, Morrison and Foerster LLP (1999-2005)

Caroline Pearson(9) (1962)
Assistant Secretary, 1997-present

Managing Director(5), Deutsche Asset Management

Paul Antosca(9)
(1957)
Assistant Treasurer, 2007-present

Director(5), Deutsche Asset Management (since 2006); formerly, Vice President, The Manufacturers Life Insurance Company (U.S.A.) (1990-2006)

Jack Clark (9)

(1967)

Assistant Treasurer,

2007-present

Director(5), Deutsche Asset Management (since 2007); formerly, Vice President, State Street Corporation (2002-2007)

 

 

 

Kathleen Sullivan D’Eramo(9)
(1957)
Assistant Treasurer, 2003-present

Director(5), Deutsche Asset Management

Diane Kenneally(9)

(1966)

Assistant Treasurer,

2007-present

Director(5), Deutsche Asset Management

Jason Vazquez(8) (1972)
Anti-Money Laundering Compliance Officer, 2007-present

Vice President, Deutsche Asset Management (since 2006); formerly, AML Operations Manager for Bear Stearns (2004-2006), Supervising Compliance Principal and Operations Manager for AXA Financial (1999-2004)

Robert Kloby(8) (1962)
Chief Compliance Officer, 2006-present

Managing Director(5), Deutsche Asset Management (2004-present); formerly, Chief Compliance Officer/Chief Risk Officer, Robeco USA (2000-2004); Vice President, The Prudential Insurance Company of America (1988-2000); E.F. Hutton and Company (1984-1988)

J. Christopher Jackson(8)

(1951)
Chief Legal Officer, 2006-present

Director(5), Deutsche Asset Management (2006-present); formerly, Director, Senior Vice President, General Counsel, and Assistant Secretary, Hansberger Global Investors, Inc. (1996-2006); Director, National Society of Compliance Professionals (2002-2005)(2006-2009)
 

(1)

The length of time served represents the year in which the Board Member joined the board of one or more DWS funds currently overseen by the Board.
   

(2)

Represents the year in which Ms. Driscoll was first appointed Chairperson of certain DWS funds.
   

(3)

A publicly held company with securities registered pursuant to Section 12 of the Securities Exchange Act of 1934.
   

(4)

The mailing address of Axel Schwarzer is c/o Deutsche Investment Management Americas Inc., 345 Park Avenue, New York, New York 10154. Mr. Schwarzer is an interested Board Member by virtue of his positions with Deutsche Asset Management. As an interested person, Mr. Schwarzer receives no compensation from the Funds.
   

(5)

Executive title, not a board directorship.
   

(6)

As a result of their respective positions held with the Advisor, these individuals are considered “interested persons” of the Advisor within the meaning of the 1940 Act. Interested persons receive no compensation from the Funds.
   

(7)

The length of time served represents the year in which the officer was first elected in such capacity for one or more DWS funds.
   

(8)

Address: 345 Park Avenue, New York, New York 10154.
   

(9)

Address: Two International Place, Boston, Massachusetts 02110.

Certain officers hold similar positions for other investment companies for which the Advisor or an affiliate serves as the Advisor.

Officer’s Role with Principal Underwriter: DWS Scudder Distributors, Inc.

 

Paul H. Schubert:

Vice President

Caroline Pearson:

Secretary

 

 

Board Members’ Responsibilities. The officers of the Funds manage its day-to-day operations under the direction of the Board. The primary responsibility of the Board is to represent the interests of the Funds and to provide oversight of the management of the Funds.

Board Committees. The Board has established the following standing committees: Audit Committee, Nominating and Governance Committee, Contract Committee, Equity Oversight Committee, Fixed-Income and Quant Oversight Committee, Marketing and Shareholder Services Committee, and Operations Committee. For each committee, the Board has adopted a written charter setting forth each committee’s responsibilities. Each committee was reconstituted effective April 1, 2008.

Audit Committee: The Audit Committee, which consists entirely of Independent Board Members, assists the Board in fulfilling its responsibility for oversight of (1) the integrity of the financial statements, (2) the Funds’ accounting and financial reporting policies and procedures, (3) the Funds’ compliance with legal and regulatory requirements related to accounting and financial reporting and (4) the qualifications, independence and performance of the independent registered public accounting firm for the Funds. It also approves and recommends to the Board the appointment, retention or termination of the independent registered public accounting firm for the Funds, reviews the scope of audit and internal controls, considers and reports to the Board on matters relating to the Funds’ accounting and financial reporting practices, and performs such other tasks as the full Board deems necessary or appropriate. The Audit Committee receives annual representations from the independent registered public accounting firm as to its independence. The members of the Audit Committee are William McClayton (Chair), Kenneth C. Froewiss (Vice Chair), John W. Ballantine, Henry P. Becton, Jr., Keith R. Fox and William N. Searcy, Jr. During the calendar year 2007, the Audit Committee of the Funds’ Board held nine (9) meetings.

Nominating and Governance Committee: The Nominating and Governance Committee, which consists entirely of Independent Board Members, recommends individuals for membership on the Board, nominates officers, board and committee chairs, vice chairs and committee members, and oversees the operations of the Board. The Nominating and Governance Committee also reviews recommendations by shareholders for candidates for Board positions. Shareholders may recommend candidates for Board positions by forwarding their correspondence by US mail or courier service to Dawn-Marie Driscoll, P.O. Box 100176, Cape Coral, FL 33904. The members of the Nominating and Governance Committee are Henry P. Becton, Jr. (Chair), Rebecca W. Rimel (Vice Chair), Paul K. Freeman and William McClayton. During the calendar year 2007, the Nominating/Corporate Governance Committee of the Funds’ Board performed similar functions and held three (3) meetings.

Contract Committee: The Contract Committee, which consists entirely of Independent Board Members, reviews at least annually, (a) the Funds’ financial arrangements with DIMA and its affiliates, and (b) the Funds’ expense ratios. The members of the Contract Committee are Robert H. Wadsworth (Chair), Keith R. Fox (Vice Chair), Henry P. Becton, Jr., Richard J. Herring, William McClayton and Jean Gleason Stromberg.

Equity Oversight Committee: The Equity Oversight Committee reviews the investment operations of those Funds that primarily invest in equity securities (except for those funds managed by a quantitative investment team). The members of the Equity Oversight Committee are John W. Ballantine (Chair), William McClayton (Vice Chair), Henry P. Becton, Jr., Keith R. Fox, Richard J. Herring and Rebecca W. Rimel. During the calendar year 2007, the Equity Oversight Committee of the Funds’ Board performed similar functions and held six (6) meetings.

Fixed-Income and Quant Oversight Committee: The Fixed-Income and Quant Oversight Committee reviews the investment operations of those Funds that primarily invest in fixed-income securities or are managed by a quantitative investment team. The members of the Fixed-Income and QuantOversight Committee are William N. Searcy, Jr. (Chair), Jean Gleason Stromberg (Vice Chair), Dawn-Marie Driscoll, Paul K. Freeman, Kenneth C. Froewiss and Robert H. Wadsworth. During the calendar year 2007, the Fixed-Income Oversight Committee of the Funds’ Board performed similar functions and held six (6) meetings.

Marketing and Shareholder Services Committee: The Marketing and Shareholder Services Committee reviews the Funds’ marketing program, sales practices and literature and shareholder services. The members of the Marketing and Shareholder Services Committee are Richard J. Herring (Chair), Dawn-Marie Driscoll (Vice Chair), Paul K. Freeman, Rebecca W. Rimel, Jean Gleason Stromberg and Robert H. Wadsworth. During the calendar year 2007,

 

the Marketing/Distribution/Shareholder Service Committee of the Funds’ Board performed similar functions and held seven (7) meetings.

The Operations Committee: The Operations Committee reviews the administrative operations, legal affairs and general compliance matters of the Funds. The Operations Committee reviews administrative matters related to the operations of the Funds, policies and procedures relating to portfolio transactions, custody arrangements, fidelity bond and insurance arrangements, valuation of Fund assets and securities and such other tasks as the full Board deems necessary or appropriate. The Operations Committee also oversees the valuation of the Funds’ securities and other assets and determines, as needed, the fair value of Fund securities or other assets under certain circumstances as described in the Funds’ Valuation Procedures. The Operations Committee has appointed a Valuation Sub-Committee, which may make determinations of fair value required when the Operations Committee is not in session. The members of the Operations Committee are Paul K. Freeman (Chair), Dawn-Marie Driscoll (Vice Chair), John W. Ballantine, Kenneth C. Froewiss, Rebecca W. Rimel and William N. Searcy, Jr. The members of the Valuation Sub-Committee are Kenneth C. Froewiss (Chair), John W. Ballantine, Dawn-Marie Driscoll (Alternate), Paul K. Freeman (Alternate), Rebecca W. Rimel (Alternate) and William N. Searcy, Jr. (Alternate). During the calendar year 2007, the Expenses/Operations Committee, which held nine (9) meetings, and Valuation Committee, which held six (6) meetings, except for DWS High Income Plus Fund, DWS Communications Fund, DWS International Value Opportunities Fund, DWS Growth & Income Fund and DWS Climate Change Fund which held seven (7) meetings, DWS RREEF Global Real Estate Securities Fund, DWS Global Thematic Fund, DWS Emerging Markets Equity Fund and DWS Japan Equity Fund which held eight (8) meetings, DWS Gold & Precious Metals Fund which held eleven (11) meetings and DWS Global Opportunities Fund which held twelve (12) meetings, performed similar functions.

Ad Hoc Committees. In addition to the standing committees described above, from time to time the Board may also form ad hoc committees to consider specific issues.

Remuneration. Each Independent Board Member receives compensation from the Funds for his or her services, which includes an annual retainer and an attendance fee for each meeting attended. No additional compensation is paid to any Independent Board Member for travel time to meetings, attendance at directors' educational seminars or conferences, service on industry or association committees, participation as speakers at directors' conferences or service on special fund industry director task forces or subcommittees. Independent Board Members do not receive any employee benefits such as pension or retirement benefits or health insurance from the Funds or any fund in the DWS fund complex.

Board Members who are officers, directors, employees or stockholders of Deutsche Asset Management (“DeAM”) or its affiliates receive no direct compensation from the Funds, although they are compensated as employees of Deutsche Asset Management, or its affiliates, and as a result may be deemed to participate in fees paid by the Funds. The following tables show compensation from the Funds and aggregate compensation from all of the funds in the DWS fund complex received by each Independent Board Member during the calendar year 2007. Mr. Schwarzer is an interested person of the Funds and received no compensation from the Funds or any fund in the DWS fund complex during the relevant periods.

 

 

  

Aggregate Compensation from Fund

 

Name of Board Member

 

  

Cash Management Fund Institutional

 

  

Cash Reserve Fund, Inc. – Prime Series

 

  

Cash Reserves Fund Institutional

 

  

Daily Assets Fund Institutional

 

John W. Ballantine

 

$0

 

$0

 

$0

 

$0

Henry P. Becton, Jr.

  

$83

  

$3,031

  

$83

  

$9,271

Dawn-Marie Driscoll

  

$83

  

$3,795

  

$83

  

$11,630

Keith R. Fox

  

$83

  

$3,033

  

$83

  

$9,352

Paul K. Freeman

 

$0

 

$0

 

$0

 

$0

Kenneth C. Froewiss

  

$83

  

$2,987

  

$83

  

$9,215

Richard J. Herring

 

$83

 

$2,871

 

$83

 

$8,947

William McClayton

 

$0

 

$0

 

$0

 

$0

Rebecca W. Rimel

 

$83

 

$2,795

 

$83

 

$8,718

 

 

 

William N. Searcy, Jr.

 

$83

 

$2,987

 

$83

 

$9,215

Jean Gleason Stromberg

  

$83

  

$2,795

  

$83

  

$8,667

Robert H. Wadsworth

  

$0

  

$0

  

$0

  

$0

 

 

 

  

Aggregate Compensation from Fund

 

Name of Board Member

 

  

DWS Capital
Growth Fund

 

  

DWS Climate
Change Fund

 

  

DWS Commodity Securities Fund

 

  

DWS
Communications Fund

 

John W. Ballantine

 

$0

 

$0

 

$0

 

$0

Henry P. Becton, Jr.

  

$4,233

  

$0

  

$642

  

$865

Dawn-Marie Driscoll

  

$5,313

  

$0

  

$804

  

$1,088

Keith R. Fox

  

$4,265

  

$0

  

$647

  

$872

Paul K. Freeman

 

$0

 

$0

 

$0

 

$0

Kenneth C. Froewiss

  

$4,202

  

$0

  

$638

  

$859

Richard J. Herring

 

$4,095

 

$0

 

$621

 

$838

William McClayton

 

$0

 

$0

 

$0

 

$0

Rebecca W. Rimel

 

$3,990

 

$0

 

$605

 

$817

William N. Searcy, Jr.

 

$4,202

 

$0

 

$638

 

$859

Jean Gleason Stromberg

  

$3,969

  

$0

  

$602

  

$812

Robert H. Wadsworth

  

$0

  

$0

  

$0

  

$0

 

 

 

  

Aggregate Compensation from Fund

 

Name of Board Member

 

  

DWS Core Fixed Income Fund

 

  

DWS Core Plus Income Fund

 

  

DWS EAFE Equity Index Fund

 

  

DWS Emerging Markets Equity Fund

 

John W. Ballantine

 

$0

 

$0

 

$0

 

$0

Henry P. Becton, Jr.

  

$3,497

  

$1,503

  

$1,033

  

$800

Dawn-Marie Driscoll

  

$4,395

  

$1,887

  

$1,299

  

$1,006

Keith R. Fox

  

$3,525

  

$1,515

  

$1,042

  

$806

Paul K. Freeman

 

$0

 

$0

 

$0

 

$0

Kenneth C. Froewiss

  

$3,472

  

$1,492

  

$1,027

  

$794

Richard J. Herring

 

$3,381

 

$1,454

 

$999

 

$775

William McClayton

 

$0

 

$0

 

$0

 

$0

Rebecca W. Rimel

 

$3,294

 

$1,417

 

$973

 

$755

William N. Searcy, Jr.

 

$3,472

 

$1,492

 

$1,027

 

$794

Jean Gleason Stromberg

  

$3,276

  

$1,410

  

$968

  

$750

Robert H. Wadsworth

  

$0

  

$0

  

$0

  

$0

 

 

 

  

Aggregate Compensation from Fund

 

Name of Board Member

 

  

DWS Emerging Markets Fixed Income Fund

 

  

DWS Enhanced
S&P 500 Index Fund

 

  

DWS Equity 500 Index Fund

 

  

DWS Equity
Income Fund

 

John W. Ballantine

 

$0

 

$0

 

$0

 

$0

Henry P. Becton, Jr.

  

$551

  

$244

  

$83

  

$339

Dawn-Marie Driscoll

  

$692

  

$306

  

$83

  

$426

Keith R. Fox

  

$556

  

$246

  

$83

  

$342

Paul K. Freeman

 

$0

 

$0

 

$0

 

$0

 

 

 

Kenneth C. Froewiss

  

$547

  

$242

  

$83

  

$337

Richard J. Herring

 

$533

 

$236

 

$83

 

$328

William McClayton

 

$0

 

$0

 

$0

 

$0

Rebecca W. Rimel

 

$519

 

$230

 

$83

 

$320

William N. Searcy, Jr.

 

$547

 

$242

 

$83

 

$337

Jean Gleason Stromberg

  

$516

  

$229

  

$83

  

$318

Robert H. Wadsworth

  

$0

  

$0

  

$0

  

$0

 

 

 

  

Aggregate Compensation from Fund

 

Name of Board Member

 

  

DWS Equity
Partners Fund

 

  

DWS Europe
Equity Fund

 

  

DWS Floating
Rate Plus Fund

 

  

DWS Global
Bond Fund

 

John W. Ballantine

 

$0

 

$0

 

$0

 

$0

Henry P. Becton, Jr.

  

$1,091

  

$1,403

  

$13

  

$317

Dawn-Marie Driscoll

  

$1,369

  

$1,763

  

$17

  

$398

Keith R. Fox

  

$1,099

  

$1,413

  

$13

  

$319

Paul K. Freeman

 

$0

 

$0

 

$0

 

$0

Kenneth C. Froewiss

  

$1,083

  

$1,392

  

$13

  

$314

Richard J. Herring

 

$1,055

 

$1,357

 

$13

 

$307

William McClayton

 

$0

 

$0

 

$0

 

$0

Rebecca W. Rimel

 

$1,028

 

$1,322

 

$13

 

$299

William N. Searcy, Jr.

 

$1,083

 

$1,392

 

$13

 

$314

Jean Gleason Stromberg

  

$1,023

  

$1,315

  

$13

  

$297

Robert H. Wadsworth

  

$0

  

$0

  

$0

  

$0

 

 

 

  

Aggregate Compensation from Fund

 

Name of Board Member

 

  

DWS Global Opportunities Fund

 

  

DWS Global
Thematic Fund

 

  

DWS
GNMA Fund

 

  

DWS Gold &
Precious Metals Fund

 

John W. Ballantine

 

$0

 

$0

 

$0

 

$0

Henry P. Becton, Jr.

  

$1,927

  

$4,545

  

$5,837

  

$1,590

Dawn-Marie Driscoll

  

$2,419

  

$5,719

  

$7,323

  

$1,998

Keith R. Fox

  

$1,942

  

$4,585

  

$5,880

  

$1,602

Paul K. Freeman

 

$0

 

$0

 

$0

 

$0

Kenneth C. Froewiss

  

$1,914

  

$4,517

  

$5,793

  

$1,578

Richard J. Herring

 

$1,862

 

$4,394

 

$5,647

 

$1,539

William McClayton

 

$0

 

$0

 

$0

 

$0

Rebecca W. Rimel

 

$1,814

 

$4,281

 

$5,502

 

$1,499

William N. Searcy, Jr.

 

$1,914

 

$4,517

 

$5,793

 

$1,578

Jean Gleason Stromberg

  

$1,804

  

$4,254

  

$5,475

  

$1,491

Robert H. Wadsworth

  

$0

  

$0

  

$0

  

$0

 

 

 

  

Aggregate Compensation from Fund

 

Name of Board Member

 

  

DWS Growth & Income Fund

 

  

DWS Health
Care Fund

 

  

DWS High Income Plus Fund

 

  

DWS Strategic High Yield Tax-Free Fund

 

John W. Ballantine

 

$0

 

$0

 

$0

 

$0

Henry P. Becton, Jr.

  

$10,499

  

$522

  

$978

  

$2,201

 

 

 

Dawn-Marie Driscoll

  

$13,180

  

$655

  

$1,228

  

$2,766

Keith R. Fox

  

$10,578

  

$526

  

$986

  

$2,219

Paul K. Freeman

 

$0

 

$0

 

$0

 

$0

Kenneth C. Froewiss

  

$10,421

  

$518

  

$971

  

$2,186

Richard J. Herring

 

$10,157

 

$505

 

$945

 

$2,129

William McClayton

 

$0

 

$0

 

$0

 

$0

Rebecca W. Rimel

 

$9,896

 

$492

 

$921

 

$2,074

William N. Searcy, Jr.

 

$10,421

 

$518

 

$971

 

$2,186

Jean Gleason Stromberg

  

$9,847

  

$489

  

$917

  

$2,063

Robert H. Wadsworth

  

$0

  

$0

  

$0

  

$0

 

 

 

  

Aggregate Compensation from Fund

 

Name of Board Member

 

  

DWS Inflation Protected Plus Fund

 

  

DWS Intermediate Tax/AMT Free Fund

 

  

DWS International Fund

 

  

DWS International Select Equity Fund

 

John W. Ballantine

 

$0

 

$0

 

$0

 

$0

Henry P. Becton, Jr.

  

$69

  

$1,512

  

$4,603

  

$588

Dawn-Marie Driscoll

  

$87

  

$1,898

  

$5,791

  

$739

Keith R. Fox

  

$70

  

$1,523

  

$4,641

  

$593

Paul K. Freeman

 

$0

 

$0

 

$0

 

$0

Kenneth C. Froewiss

  

$69

  

$1,501

  

$4,572

  

$584

Richard J. Herring

 

$67

 

$1,463

 

$4,457

 

$569

William McClayton

 

$0

 

$0

 

$0

 

$0

Rebecca W. Rimel

 

$65

 

$1,426

 

$4,343

 

$555

William N. Searcy, Jr.

 

$69

 

$1,501

 

$4,572

 

$584

Jean Gleason Stromberg

  

$65

  

$1,418

  

$4,317

  

$552

Robert H. Wadsworth

  

$0

  

$0

  

$0

  

$0

 

 

 

  

Aggregate Compensation from Fund

 

Name of Board Member

 

  

DWS International Value
Opportunities Fund

 

  

DWS Japan
Equity Fund

 

  

DWS Large
Company
Growth Fund

 

  

DWS
Latin America
Equity Fund

 

John W. Ballantine

 

$0

 

$0

 

$0

 

$0

Henry P. Becton, Jr.

  

$28

  

$497

  

$744

  

$2,261

Dawn-Marie Driscoll

  

$35

  

$623

  

$933

  

$2,846

Keith R. Fox

  

$28

  

$500

  

$749

  

$2,280

Paul K. Freeman

 

$0

 

$0

 

$0

 

$0

Kenneth C. Froewiss

  

$28

  

$493

  

$738

  

$2,246

Richard J. Herring

 

$27

 

$480

 

$720

 

$2,190

William McClayton

 

$0

 

$0

 

$0

 

$0

Rebecca W. Rimel

 

$26

 

$468

 

$701

 

$2,134

William N. Searcy, Jr.

 

$28

 

$493

 

$738

 

$2,246

Jean Gleason Stromberg

  

$26

  

$465

  

$698

  

$2,121

Robert H. Wadsworth

  

$0

  

$0

  

$0

  

$0

 

 

 

 

 

  

Aggregate Compensation from Fund

 

Name of Board Member

 

  

DWS LifeCompass Retirement Fund

 

  

DWS LifeCompass
2015 Fund

 

  

DWS LifeCompass 2020 Fund

 

  

DWS LifeCompass
2030 Fund

 

John W. Ballantine

 

$0

 

$0

 

$0

 

$0

Henry P. Becton, Jr.

  

$344

  

$760

  

$766

  

$82

Dawn-Marie Driscoll

  

$432

  

$955

  

$962

  

$104

Keith R. Fox

  

$347

  

$766

  

$772

  

$83

Paul K. Freeman

 

$0

 

$0

 

$0

 

$0

Kenneth C. Froewiss

  

$342

  

$755

  

$761

  

$82

Richard J. Herring

 

$333

 

$735

 

$741

 

$80

William McClayton

 

$0

 

$0

 

$0

 

$0

Rebecca W. Rimel

 

$324

 

$716

 

$722

 

$78

William N. Searcy, Jr.

 

$342

 

$755

 

$761

 

$82

Jean Gleason Stromberg

  

$323

  

$712

  

$718

  

$77

Robert H. Wadsworth

  

$0

  

$0

  

$0

  

$0

 

 

 

  

Aggregate Compensation from Fund

 

Name of Board Member

 

  

DWS LifeCompass
2040 Fund

 

  

DWS Lifecycle Long Range Fund

 

  

DWS Managed Municipal Bond Fund

 

  

DWS Massachusetts Tax-Free Fund

 

John W. Ballantine

 

$0

 

$0

 

$0

 

$0

Henry P. Becton, Jr.

  

$0

  

$1,854

  

$9,165

  

$1,040

Dawn-Marie Driscoll

  

$0

  

$2,329

  

$11,505

  

$1,306

Keith R. Fox

  

$0

  

$1,868

  

$9,233

  

$1,047

Paul K. Freeman

 

$0

 

$0

 

$0

 

$0

Kenneth C. Froewiss

  

$0

  

$1,841

  

$9,097

  

$1,034

Richard J. Herring

 

$0

 

$1,794

 

$8,867

 

$1,008

William McClayton

 

$0

 

$0

 

$0

 

$0

Rebecca W. Rimel

 

$0

 

$1,748

 

$8,639

 

$981

William N. Searcy, Jr.

 

$0

 

$1,841

 

$9,097

 

$1,034

Jean Gleason Stromberg

  

$0

  

$1,739

  

$8,595

  

$975

Robert H. Wadsworth

  

$0

  

$0

  

$0

  

$0

 

 

 

  

Aggregate Compensation from Fund

 

Name of Board Member

 

  

DWS Micro
Cap Fund

 

  

DWS Mid Cap
Growth Fund

 

  

DWS Money
Market Series

 

  

DWS RREEF
Global Real Estate Securities Fund

 

John W. Ballantine

 

$0

 

$0

 

$0

 

$0

Henry P. Becton, Jr.

  

$160

  

$3,056

  

$33,817

  

$1,167

Dawn-Marie Driscoll

  

$200

  

$3,836

  

$41,978

  

$1,474

Keith R. Fox

  

$161

  

$3,079

  

$34,003

  

$1,180

Paul K. Freeman

 

$0

 

$0

 

$0

 

$0

Kenneth C. Froewiss

  

$159

  

$3,034

  

$33,496

  

$1,162

Richard J. Herring

 

$155

 

$2,958

 

$32,413

 

$1,125

William McClayton

 

$0

 

$0

 

$0

 

$0

Rebecca W. Rimel

 

$151

 

$2,882

 

$31,573

 

$1,096

William N. Searcy, Jr.

 

$159

 

$3,034

 

$33,496

 

$1,162

Jean Gleason Stromberg

  

$150

  

$2,867

  

$31,573

  

$1,088

Robert H. Wadsworth

  

$0

  

$0

  

$0

  

$0

 

 

 

 

 

  

Aggregate Compensation from Fund

 

Name of Board Member

 

  

DWS RREEF
Real Estate
Securities Fund

 

  

DWS S&P 500
Index Fund

 

  

DWS Short
Duration Fund

 

  

DWS Short
Duration Plus Fund

 

John W. Ballantine

 

$0

 

$0

 

$0

 

$0

Henry P. Becton, Jr.

  

$4,694

  

$1,366

  

$271

  

$2,008

Dawn-Marie Driscoll

  

$5,889

  

$1,683

  

$339

  

$2,517

Keith R. Fox

  

$4,730

  

$1,373

  

$273

  

$2,029

Paul K. Freeman

 

$0

 

$0

 

$0

 

$0

Kenneth C. Froewiss

  

$4,659

  

$1,354

  

$269

  

$2,000

Richard J. Herring

 

$4,526

 

$1,309

 

$262

 

$1,933

William McClayton

 

$0

 

$0

 

$0

 

$0

Rebecca W. Rimel

 

$4,409

 

$1,276

 

$255

 

$1,884

William N. Searcy, Jr.

 

$4,659

 

$1,354

 

$269

 

$2,000

Jean Gleason Stromberg

  

$4,390

  

$1,276

  

$254

  

$1,870

Robert H. Wadsworth

  

$0

  

$0

  

$0

  

$0

 

 

 

  

Aggregate Compensation from Fund

 

Name of Board Member

 

  

DWS Short-
Term Municipal
Bond Fund

 

  

DWS Small Cap Core Fund

 

  

DWS Small Cap Growth Fund

 

  

DWS Small Cap Value Fund

 

John W. Ballantine

 

$0

 

$0

 

$0

 

$0

Henry P. Becton, Jr.

  

$1,143

  

$365

  

$1,043

  

$746

Dawn-Marie Driscoll

  

$1,434

  

$457

  

$1,308

  

$935

Keith R. Fox

  

$1,152

  

$367

  

$1,050

  

$751

Paul K. Freeman

 

$0

 

$0

 

$0

 

$0

Kenneth C. Froewiss

  

$1,135

  

$362

  

$1,034

  

$740

Richard J. Herring

 

$1,107

 

$353

 

$1,011

 

$721

William McClayton

 

$0

 

$0

 

$0

 

$0

Rebecca W. Rimel

 

$1,079

 

$344

 

$985

 

$703

William N. Searcy, Jr.

 

$1,135

 

$362

 

$1,034

 

$740

Jean Gleason Stromberg

  

$1,073

  

$342

  

$981

  

$699

Robert H. Wadsworth

  

$0

  

$0

  

$0

  

$0

 

 

 

  

Aggregate Compensation from Fund

 

Name of Board Member

 

  

DWS U.S. Bond
Index Fund

 

  

DWS Value
Builder Fund

 

  

NY Tax Free
Money Fund

 

  

Tax Free Money
Fund Investment

 

John W. Ballantine

 

$0

 

$0

 

$0

 

$0

Henry P. Becton, Jr.

  

$375

  

$952

  

$242

  

$1,035

Dawn-Marie Driscoll

  

$471

  

$1,192

  

$295

  

$1,329

Keith R. Fox

  

$378

  

$958

  

$243

  

$1,041

Paul K. Freeman

 

$0

 

$0

 

$0

 

$0

Kenneth C. Froewiss

  

$373

  

$944

  

$240

  

$1,025

Richard J. Herring

 

$363

 

$920

 

$234

 

$1,025

William McClayton

 

$0

 

$0

 

$0

 

$0

Rebecca W. Rimel

 

$353

 

$897

 

$229

 

$997

 

 

 

William N. Searcy, Jr.

 

$373

 

$944

 

$240

 

$1,025

Jean Gleason Stromberg

  

$351

  

$893

  

$228

  

$990

Robert H. Wadsworth

  

$0

  

$0

  

$0

  

$0

 

 

Name of Board Member

 

  

Total  Compensation  from

Fund  and  DWS Fund  Complex(1)

 

Independent Board Members

  

 

John W. Ballantine

  

$215,000

Henry P. Becton, Jr.(4)

  

$200,000

Dawn-Marie Driscoll(2)(4)

  

$253,000

Keith R. Fox(4)

  

$203,000

Paul K. Freeman(3)

  

$265,000

Kenneth C. Froewiss(4)

  

$200,000

Richard J. Herring(4)

  

$195,000

William McClayton(5)

  

$205,000

Rebecca W. Rimel(4)

  

$194,000

William N. Searcy, Jr.(4)

  

$200,000

Jean Gleason Stromberg(4)

  

$189,000

Robert H. Wadsworth

  

$245,250
 

(1)

The DWS fund complex is composed of 138 funds as of December 31, 2007.
   

(2)

Includes $50,000 in annual retainer fees received by Ms. Driscoll as Chairperson of certain DWS funds.
   

(3)

Includes $25,000 paid to Dr. Freeman for numerous special meetings of an ad hoc committee in connection with board consolidation initiatives and $50,000 in annual retainer fees received by Dr. Freeman as Chairperson of certain DWS funds.
   

(4)

Aggregate compensation includes amounts paid to the Board Members for special meetings of ad hoc committees of the board in connection with the consolidation of the DWS fund boards and various funds, meetings for considering fund expense simplification initiatives, and consideration of issues specific to the Funds’ direct shareholders (i.e., those shareholders who did not purchase shares through financial intermediaries). Such amounts totaled $1,000 for Mr. Becton, $1,000 for Ms. Driscoll, $1,000 for Mr. Fox, $1,000 for Mr. Froewiss, $1,000 for Dr. Herring, $5,000 for Ms. Rimel, $1,000 for Mr. Searcy and $1,000 for Ms. Stromberg. These meeting fees were borne by the Advisor.
   

(5)

Does not include $15,000 to be paid to Mr. McClayton in calendar year 2008 for numerous special meetings of an ad hoc committee of the former Chicago Board in connection with board consolidation initiatives.
 

Dr. Freeman, prior to his service as Independent Board Member, served as a board member of certain funds in the Deutsche Bank complex (“DB Funds”). In connection with his resignation and the resignation of certain other board members of the DB Funds on July 30, 2002 (the “Effective Date”), which was part of a restructuring of the boards overseeing the DB Funds, Deutsche Asset Management, Inc. (“DAMI”) agreed to recommend, and, if necessary obtain, directors and officers (“D&O”) liability insurance coverage for the prior board members, including Dr. Freeman, that is at least as equivalent in scope and amount to the D&O coverage provided to the prior board members for the six-year period following the Effective Date. In the event that D&O insurance coverage is not available in the commercial marketplace on commercially reasonable terms from a conventional third party insurer, DeAM reserved the right to provide substantially equivalent protection in the form of an indemnity or financial

 

guarantee from an affiliate of DeAM. The D&O policy in effect prior to the Effective Date provided aggregate coverage of $25,000,000, subject to a $250,000 per claim deductible.

Board Member Ownership in the Funds

Each Board Member owns over $100,000 of shares on an aggregate basis in all DWS funds overseen by the Board as of December 31, 2007. Securities beneficially owned as defined under the 1934 Act include direct and/or indirect ownership of securities where a Board Member’s economic interest is tied to the securities, employment ownership and securities when the Board Member can exert voting power and when the Board Member has authority to sell the securities. The dollar ranges are: None, $1-$10,000, $10,001-$50,000, $50,001-$100,000 and over $100,000.

 

 

  

Aggregate Dollar Range of Equity Securities in the Fund

 

Name of Board Member

 

  

Cash Management Fund Institutional

 

  

Cash Reserve Fund, Inc. – Prime Series

 

  

Cash Reserves Fund Institutional

 

  

Daily Assets Fund Institutional

 

 

  

Independent Board Members

John W. Ballantine

  

None

  

None

  

None

  

None

Henry P. Becton, Jr.

  

None

  

None

  

None

  

None

Dawn-Marie Driscoll

  

None

  

None

  

None

  

None

Keith R. Fox

  

None

  

$1 – $10,000

  

None

  

None

Paul K. Freeman

  

None

  

None

  

None

  

None

Kenneth C. Froewiss

  

None

  

None

  

None

  

None

Richard J. Herring

  

None

  

None

  

None

  

None

William McClayton

  

None

  

None

  

None

  

None

Rebecca W. Rimel

  

None

  

None

  

None

  

None

William N. Searcy, Jr.

  

None

  

None

  

None

  

None

Jean Gleason Stromberg

  

None

  

None

  

None

  

None

Robert H. Wadsworth

  

None

  

None

  

None

  

None

 

  

Interested Board Member

Axel Schwarzer

  

None

  

None

  

None

  

None

 

 

 

  

Aggregate Dollar Range of Equity Securities in the Fund

 

Name of Board Member

 

  

DWS Capital
Growth Fund

 

  

DWS Climate
Change Fund

 

  

DWS Commodity
Securities Fund

 

  

DWS Communications Fund

 

 

  

Independent Board Members

John W. Ballantine

  

None

  

None

  

None

  

None

Henry P. Becton, Jr.

  

$1 – $10,000

  

$1 – $10,000

  

$1 – $10,000

  

None

Dawn-Marie Driscoll

  

$10,001 – $50,000

  

$10,001 – $50,000

  

None

  

None

Keith R. Fox

  

None

  

None

  

None

  

None

Paul K. Freeman

  

None

  

None

  

None

  

None

Kenneth C. Froewiss

  

None

  

None

  

None

  

None

Richard J. Herring

  

$10,001 – $50,000

  

None

  

None

  

None

William McClayton

  

None

  

None

  

None

  

None

Rebecca W. Rimel

  

None

  

$10,001 – $50,000

  

None

  

None

William N. Searcy, Jr.

  

None

  

None

  

None

  

None

Jean Gleason Stromberg

  

$10,001 – $50,000

  

None

  

None

  

None

Robert H. Wadsworth

  

None

  

None

  

None

  

None

 

  

Interested Board Member

Axel Schwarzer

  

None

  

None

  

None

  

None

 

 

 

 

 

  

Aggregate Dollar Range of Equity Securities in the Fund

 

Name of Board Member

 

  

DWS Core Fixed
Income Fund

 

  

DWS Core Plus
Income Fund

 

  

DWS EAFE Equity
Index Fund

 

  

DWS Emerging Markets Equity Fund

 

 

  

Independent Board Members

John W. Ballantine

  

None

  

None

  

None

  

None

Henry P. Becton, Jr.

  

None

  

$10,001 – $50,000

  

None

  

$10,001 - $50,000

Dawn-Marie Driscoll

  

None

  

$1 – $10,000

  

None

  

$10,001 - $50,000

Keith R. Fox

  

None

  

None

  

None

  

$50,001 - $100,000

Paul K. Freeman

  

None

  

None

  

None

  

None

Kenneth C. Froewiss

  

$10,001 – $50,000

  

None

  

None

  

$10,001 - $50,000

Richard J. Herring

  

None

  

None

  

None

  

$50,001 - $100,000

William McClayton

  

None

  

None

  

None

  

None

Rebecca W. Rimel

  

None

  

None

  

None

  

None

William N. Searcy, Jr.

  

$10,001 – $50,000

  

None

  

None

  

None

Jean Gleason Stromberg

  

None

  

$10,001 – $50,000

  

None

  

None

Robert H. Wadsworth

  

None

  

None

  

None

  

None

 

  

Interested Board Member

Axel Schwarzer

  

None

  

None

  

None

  

None

 

 

 

 

Aggregate Dollar Range of Equity Securities in the Fund

 

Name of Board Member

 

 

DWS Emerging
Markets Fixed Income Fund

 

  

DWS Enhanced
S&P 500 Index Fund

 

  

DWS Equity 500
Index Fund

 

  

DWS Equity
Income Fund

 

 

 

Independent Board Members

John W. Ballantine

 

None

 

None

 

None

 

None

Henry P. Becton, Jr.

 

$1 – $10,000

 

$1 – $10,000

 

None

 

None

Dawn-Marie Driscoll

 

$1 – $10,000

 

$1 – $10,000

 

None

 

$1 – $10,000

Keith R. Fox

 

None

 

None

 

None

 

None

Paul K. Freeman

 

None

 

None

 

Over $100,000

 

None

Kenneth C. Froewiss

 

None

 

None

 

None

 

None

Richard J. Herring

 

None

 

None

 

None

 

None

William McClayton

 

None

 

None

 

None

 

None

Rebecca W. Rimel

 

None

 

None

 

None

 

None

William N. Searcy, Jr.

 

None

 

None

 

None

 

None

Jean Gleason Stromberg

 

None

 

None

 

None

 

None

Robert H. Wadsworth

 

None

 

None

 

None

 

None

 

 

Interested Board Member

Axel Schwarzer

 

None

 

None

 

None

 

None

 

 

 

 

Aggregate Dollar Range of Equity Securities in the Fund

 

Name of Board Member

 

 

DWS Equity
Partners Fund

 

  

DWS Europe
Equity Fund

 

  

DWS Floating
Rate Plus Fund

 

  

DWS Global
Bond Fund

 

 

 

Independent Board Members

John W. Ballantine

 

None

 

None

 

None

 

None

Henry P. Becton, Jr.

 

None

 

$10,001 – $50,000

 

None

 

$10,001 – $50,000

Dawn-Marie Driscoll

 

None

 

$10,001 – $50,000

 

None

 

None

Keith R. Fox

 

None

 

$50,001 – $100,000

 

None

 

None

Paul K. Freeman

 

None

 

None

 

None

 

None

Kenneth C. Froewiss

 

None

 

None

 

None

 

$1 – $10,000

Richard J. Herring

 

$10,001 – $50,000

 

None

 

None

 

None

William McClayton

 

None

 

None

 

None

 

None

Rebecca W. Rimel

 

None

 

None

 

None

 

None

 

 

 

William N. Searcy, Jr.

 

None

 

None

 

None

 

None

Jean Gleason Stromberg

 

None

 

$10,001 – $50,000

 

None

 

None

Robert H. Wadsworth

 

None

 

None

 

None

 

None

 

 

Interested Board Member

Axel Schwarzer

 

None

 

None

 

None

 

None

 

 

 

  

Aggregate Dollar Range of Equity Securities in the Fund

 

Name of Board Member

 

  

DWS Global Opportunities Fund

 

  

DWS Global
Thematic Fund

 

  

DWS
GNMA Fund

 

  

DWS Gold &
Precious Metals Fund

 

 

  

Independent Board Members

John W. Ballantine

  

None

 

None

 

None

 

None

Henry P. Becton, Jr.

  

$10,001 – $50,000

  

$10,001 – $50,000

  

$1 – $10,000

  

$10,001 – $50,000

Dawn-Marie Driscoll

  

None

  

$10,001 – $50,000

  

$1 – $10,000

  

$1 – $10,000

Keith R. Fox

  

None

  

None

  

None

  

None

Paul K. Freeman

  

None

  

None

  

None

  

None

Kenneth C. Froewiss

  

None

  

None

  

None

  

None

Richard J. Herring

  

$50,001 – $100,000

  

$50,001 – $100,000

  

None

  

None

William McClayton

  

None

  

None

  

None

  

None

Rebecca W. Rimel

  

$50,001 – $100,000

  

Over $100,000

  

None

  

None

William N. Searcy, Jr.

  

None

  

None

  

None

  

None

Jean Gleason Stromberg

  

None

  

$10,001 – $50,000

  

$10,001 – $50,000

  

$10,001 – $50,000

Robert H. Wadsworth

  

None

  

None

  

None

  

None

 

  

Interested Board Member

Axel Schwarzer

  

$50,001 – $100,000

  

$10,001 – $50,000

  

None

  

None

 

 

 

  

Aggregate Dollar Range of Equity Securities in the Fund

 

Name of Board Member

 

  

DWS Growth & Income Fund

 

  

DWS Health Care Fund

 

  

DWS High Income Plus Fund

 

  

DWS Strategic
High Yield
Tax-Free Fund

 

 

  

Independent Board Members

John W. Ballantine

  

None

  

None

  

None

  

None

Henry P. Becton, Jr.

  

$10,001 – $50,000

  

$1 – $10,000

  

$1 – $10,000

  

$1 – $10,000

Dawn-Marie Driscoll

  

$10,001 – $50,000

  

$1 – $10,000

  

$1 – $10,000

  

$10,001 – $50,000

Keith R. Fox

  

None

  

None

  

None

  

None

Paul K. Freeman

  

None

  

None

  

None

  

None

Kenneth C. Froewiss

  

None

  

None

  

$10,001 – $50,000

  

None

Richard J. Herring

  

None

  

None

  

None

  

Over $100,000

William McClayton

  

None

  

None

  

None

  

None

Rebecca W. Rimel

  

None

  

None

  

None

  

None

William N. Searcy, Jr.

  

None

  

None

  

$10,001 – $50,000

  

None

Jean Gleason Stromberg

  

$1 – $10,000

  

None

  

$1 – $10,000

  

$10,001 – $50,000

Robert H. Wadsworth

  

None

  

None

  

None

  

None

 

  

Interested Board Member

Axel Schwarzer

  

None

  

None

  

None

  

None

 

 

 

 

 

  

Aggregate Dollar Range of Equity Securities in the Fund

 

Name of Board Member

 

 

  

DWS Inflation Protected Plus Fund

 

  

DWS Intermediate Tax/AMT

Free Fund

 

  

DWS

International Fund

 

  

DWS International

Select Equity Fund

 

 

  

Independent Board Members

John W. Ballantine

  

None

    

None

    

None

  

None

Henry P. Becton, Jr.

  

None

    

$1-$10,000

    

$50,001-$100,000

  

None

Dawn-Marie Driscoll

  

$1-$10,000

    

$10,001-$50,000

    

$1-$10,000

  

None

Keith R. Fox

  

None

    

None

    

Over $100,000

  

None

Paul K. Freeman

  

None

    

None

    

None

  

None

Kenneth C. Froewiss

  

None

    

None

    

$1-$10,000

  

None

Richard J. Herring

  

$1-$10,000

    

None

    

None

  

$10,001-$50,000

William McClayton

  

None

    

None

    

None

  

None

Rebecca W. Rimel

  

None

    

None

    

None

  

None

William N. Searcy, Jr.

  

$10,001-$50,000

    

None

    

None

  

$1-$10,000

Jean Gleason Stromberg

  

$10,001-$50,000

    

None

    

None

  

None

Robert H. Wadsworth

  

None

    

None

    

None

  

None

 

  

Interested Board Member

Axel Schwarzer

  

None

    

None

    

None

  

None

 

 

 

  

Aggregate Dollar Range of Equity Securities in the Fund

 

Name of Board Member

 

  

DWS International
Value

Opportunities Fund

 

  

DWS Japan
Equity Fund

 

  

DWS Large Company

Growth Fund

 

  

DWS Latin America

Equity Fund

 

 

  

Independent Board Members

John W. Ballantine

  

None

    

None

    

None

  

None

Henry P. Becton, Jr.

  

None

    

None

    

$10,001-$50,000

  

$10,001-$50,000

Dawn-Marie Driscoll

  

None

    

$1-$10,000

    

$1-$10,000

  

None

Keith R. Fox

  

None

    

None

    

None

  

Over $100,000

Paul K. Freeman

  

None

    

None

    

None

  

None

Kenneth C. Froewiss

  

$1-$10,000

    

None

    

None

  

None

Richard J. Herring

  

None

    

None

    

None

  

None

William McClayton

  

None

    

None

    

None

  

None

Rebecca W. Rimel

  

None

    

None

    

None

  

$10,001-$50,000

William N. Searcy, Jr.

  

None

    

None

    

None

  

None

Jean Gleason Stromberg

  

None

    

None

    

None

  

None

Robert H. Wadsworth

  

None

    

None

    

None

  

None

 

  

Interested Board Member

Axel Schwarzer

  

None

    

None

    

None

  

None

 

 

 

  

Aggregate Dollar Range of Equity Securities in the Fund

 

Name of Board Member

 

  

DWS LifeCompass Retirement Fund

 

  

DWS LifeCompass 2015 Fund

 

  

DWS LifeCompass 2020 Fund

 

  

DWS LifeCompass 2030 Fund

 

 

  

Independent Board Members

John W. Ballantine

  

None

    

None

    

None

  

None

Henry P. Becton, Jr.

  

$1-$10,000

    

$1-$10,000

    

$1-$10,000

  

None

Dawn-Marie Driscoll

  

$10,001-$50,000

    

$10,001-$50,000

    

$10,001-$50,000

  

$1-$10,000

Keith R. Fox

  

None

    

None

    

None

  

None

Paul K. Freeman

  

None

    

None

    

None

  

None

Kenneth C. Froewiss

  

None

    

None

    

None

  

None

Richard J. Herring

  

None

    

None

    

None

  

None

William McClayton

  

None

    

None

    

None

  

None

 

 

 

Rebecca W. Rimel

  

None

    

None

    

None

  

None

William N. Searcy, Jr.

  

None

    

None

    

None

  

None

Jean Gleason Stromberg

  

None

    

$10,001-$50,000

    

None

  

None

Robert H. Wadsworth

  

None

    

None

    

None

  

None

 

  

Interested Board Member

Axel Schwarzer

  

None

    

None

    

None

  

None

 

 

 

  

Aggregate Dollar Range of Equity Securities in the Fund

 

Name of Board Member

 

  

DWS LifeCompass 2040 Fund

 

  

DWS Lifecycle Long Range Fund

 

  

DWS Managed Municipal Bond Fund

 

  

DWS Massachusetts Tax-Free Fund

 

 

  

Independent Board Members

John W. Ballantine

  

None

    

None

    

None

  

None

Henry P. Becton, Jr.

  

None

    

None

    

$1-$10,000

  

$1-$10,000

Dawn-Marie Driscoll

  

None

    

None

    

$10,001-$50,000

  

$1-$10,000

Keith R. Fox

  

None

    

None

    

None

  

None

Paul K. Freeman

  

None

    

None

    

None

  

None

Kenneth C. Froewiss

  

None

    

None

    

None

  

None

Richard J. Herring

  

None

    

None

    

None

  

None

William McClayton

  

None

    

None

    

None

  

None

Rebecca W. Rimel

  

None

    

None

    

None

  

None

William N. Searcy, Jr.

  

None

    

None

    

None

  

None

Jean Gleason Stromberg

  

None

    

None

    

$10,001-$50,000

  

None

Robert H. Wadsworth

  

None

    

None

    

None

  

None

 

  

Interested Board Member

Axel Schwarzer

  

None

    

None

    

None

  

None

 

 

 

  

Aggregate Dollar Range of Equity Securities in the Fund

 

Name of Board Member

 

  

DWS Micro
Cap Fund

 

  

DWS Mid Cap
Growth Fund

 

  

DWS Money
Market Series

 

  

DWS RREEF
Global Real Estate
Securities Fund

 

 

  

Independent Board Members

John W. Ballantine

  

None

    

None

    

None

  

None

Henry P. Becton, Jr.

  

None

    

$1-$10,000

    

$10,001-$50,000

  

$1-$10,000

Dawn-Marie Driscoll

  

None

    

None

    

$10,001-$50,000

  

$10,001-$50,000

Keith R. Fox

  

None

    

None

    

None

  

None

Paul K. Freeman

  

None

    

None

    

None

  

None

Kenneth C. Froewiss

  

None

    

None

    

None

  

None

Richard J. Herring

  

None

    

$10,001-$50,000

    

None

  

None

William McClayton

  

None

    

None

    

None

  

None

Rebecca W. Rimel

  

None

    

None

    

None

  

None

William N. Searcy, Jr.

  

None

    

None

    

$10,001-$50,000

  

None

Jean Gleason Stromberg

  

None

    

None

    

Over $100,000

  

$10,001-$50,000

Robert H. Wadsworth

  

None

    

None

    

None

  

None

 

  

Interested Board Member

Axel Schwarzer

  

None

    

None

    

None

  

None

 

 

 

 

 

  

Aggregate Dollar Range of Equity Securities in the Fund

 

Name of Board Member

 

  

DWS RREEF

Real Estate Securities Fund

 

  

DWS S&P 500

Index Fund

 

  

DWS Short

Duration Fund

 

  

DWS

Short Duration

Plus Fund

 

 

  

Independent Board Members

John W. Ballantine

  

None

    

None

    

None

  

None

Henry P. Becton, Jr.

  

None

    

$10,001-$50,000

    

None

  

$10,001-$50,000

Dawn-Marie Driscoll

  

None

    

$10,001-$50,000

    

None

  

$1-$10,000

Keith R. Fox

  

None

    

None

    

None

  

None

Paul K. Freeman

  

None

    

None

    

None

  

None

Kenneth C. Froewiss

  

None

    

None

    

None

  

$10,001-$50,000

Richard J. Herring

  

None

    

None

    

None

  

None

William McClayton

  

None

    

None

    

None

  

None

Rebecca W. Rimel

  

$50,001-$100,000

    

$50,001-$100,000

    

None

  

None

William N. Searcy, Jr.

  

None

    

None

    

Over $100,000

  

None

Jean Gleason Stromberg

  

None

    

None

    

None

  

None

Robert H. Wadsworth

  

None

    

None

    

None

  

None

 

  

Interested Board Member

Axel Schwarzer

  

None

    

None

    

None

  

None

 

 

 

  

Aggregate Dollar Range of Equity Securities in the Fund

 

Name of Board Member

 

  

DWS Short-Term Municipal Bond Fund

 

  

DWS Small
Cap Core Fund

 

  

DWS Small Cap Growth Fund

 

  

DWS Small Cap Value Fund

 

 

  

Independent Board Members

John W. Ballantine

  

None

    

None

    

None

  

None

Henry P. Becton, Jr.

  

None

    

$10,001-$50,000

    

$1-$10,000

  

$10,001-$50,000

Dawn-Marie Driscoll

  

None

    

$1-$10,000

    

$10,001-$50,000

  

$10,001-$50,000

Keith R. Fox

  

None

    

None

    

None

  

None

Paul K. Freeman

  

None

    

None

    

None

  

None

Kenneth C. Froewiss

  

$10,001-$50,000

    

None

    

None

  

None

Richard J. Herring

  

None

    

None

    

None

  

None

William McClayton

  

None

    

None

    

None

  

None

Rebecca W. Rimel

  

None

    

None

    

None

  

None

William N. Searcy, Jr.

  

None

    

None

    

None

  

None

Jean Gleason Stromberg

  

None

    

None

    

None

  

None

Robert H. Wadsworth

  

None

    

None

    

None

  

None

 

  

Interested Board Member

Axel Schwarzer

  

None

    

None

    

None

  

None

 

 

 

  

Aggregate Dollar Range of Equity Securities in the Fund

 

Name of Board Member

 

  

DWS U.S. Bond Index Fund

 

  

DWS Value

Builder Fund

 

  

NY Tax Free Money Fund

 

  

Tax Free Money Fund Investment

 

 

  

Independent Board Members

John W. Ballantine

  

None

    

None

    

None

  

None

Henry P. Becton, Jr.

  

None

    

None

    

None

  

None

Dawn-Marie Driscoll

  

None

    

None

    

$1-$10,000

  

None

Keith R. Fox

  

None

    

None

    

None

  

None

Paul K. Freeman

  

None

    

None

    

None

  

None

Kenneth C. Froewiss

  

None

    

None

    

$1-$10,000

  

None

Richard J. Herring

  

None

    

None

    

None

  

None

William McClayton

  

None

    

None

    

None

  

None

Rebecca W. Rimel

  

None

    

None

    

None

  

None

 

 

 

William N. Searcy, Jr.

  

None

    

None

    

None

  

None

Jean Gleason Stromberg

  

None

    

None

    

None

  

None

Robert H. Wadsworth

  

None

    

None

    

None

  

None

 

  

Interested Board Member

Axel Schwarzer

  

None

    

None

    

None

  

None

 

 

 

Please Retain This Supplement for Future Reference

 

 

 

 

 

 

 

April 3, 2008

 

 

 

 -----END PRIVACY-ENHANCED MESSAGE-----