-----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, CklhyTj8EOJ22VjzdPtvHwYo354GedjeCZ1QnilB9iER8mRkoa/37BUIdmjkhNMv htAC9IZOog2GUYDQha50pw== 0000088053-10-000825.txt : 20100608 0000088053-10-000825.hdr.sgml : 20100608 20100608170226 ACCESSION NUMBER: 0000088053-10-000825 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20100608 DATE AS OF CHANGE: 20100608 EFFECTIVENESS DATE: 20100608 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: 497K SEC ACT: 1933 Act SEC FILE NUMBER: 033-07404 FILM NUMBER: 10885059 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 0000797657 S000012428 DWS Diversified International Equity Fund C000033722 Class A C000033723 Class B C000033724 Class C C000033725 Class R C000033726 Class S C000033727 Institutional Class 497K 1 sk060810af_dief.htm 497K - SUMMARY PROSPECTUS STICKER sk060810af_dief.htm
 
SUPPLEMENT TO THE CURRENTLY EFFECTIVE SUMMARY PROSPECTUSES
     
     
DWS Balanced Fund
DWS Blue Chip Fund
DWS Disciplined Market Neutral Fund 
DWS Diversified International Equity Fund
DWS Global Inflation Plus Fund
DWS Growth & Income Fund
DWS LifeCompass 2015 Fund
DWS LifeCompass 2020 Fund
DWS LifeCompass 2030 Fund
DWS LifeCompass Retirement Fund
DWS Select Alternative Allocation Fund
DWS Short Duration Plus Fund
DWS Small Cap Core Fund
DWS Strategic Government Securities Fund
DWS Strategic Income Fund

 
The following information replaces similar disclosure or supplements existing disclosure in the section entitled “MANAGEMENT” of each fund’s summary prospectus:
 
 
On January 26, 2010, Deutsche Investment Management Americas Inc. (the ”Advisor”) announced its intention to transition members of its Quantitative Strategies Group (the “QS Group”), including members of the fund’s portfolio management team, out of the Advisor into a separate investment advisory firm named QS Investors, LLC (“QS Investors”) that will be unaffiliated with the Advisor (the “Separation”).  The Separation is expected to be completed during the third quarter of 2010.  In order for the fund to continue to access the investment expertise offered by the members of the QS Group following the Separation, the Advisor recommended that the fund’s Board approve a sub–advisory agreement between the Advisor and QS Investors (the “Sub–Advisor y Agreement”).  On May 4, 2010, following a review of QS Investors’ capabilities, the terms of the Separation and Sub–Advisory Agreement, the fund’s Board approved the Sub–Advisory Agreement.  This action was taken pursuant to an order the fund and the Advisor requested and received from the Securities and Exchange Commission that permits the Advisor, with the approval of the fund’s Board, to appoint subadvisors that are not affiliated with the Advisor to manage all or a portion of the fund’s assets without the need for a shareholder meeting or vote.  The Sub–Advisory Agreement will become effective upon the effective date of the Separation.  
 
Effective upon the Separation, the following information supplements the existing disclosure in the section entitled “MANAGEMENT” of each fund’s summary prospectus:
 
Subadvisor
 
 
QS Investors, LLC
 
Please Retain This Supplement for Future Reference
 
June 8, 2010
DMF–3602SUM

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