497 1 ss031709mega_retail.txt SAI STICKER SUPPLEMENT TO THE CURRENTLY EFFECTIVE STATEMENTS OF ADDITIONAL INFORMATION OF EACH OF THE LISTED FUNDS: ----------------------- Cash Account Trust DWS Europe Equity Fund DWS Mid Cap Growth Fund Government and Agency Securities DWS Floating Rate Plus Fund DWS Money Market Prime Series Portfolio DWS Global Bond Fund DWS Money Market Series Money Market Portfolio DWS Global Opportunities Fund DWS New York Tax-Free Income Fund Tax-Exempt Portfolio DWS Global Thematic Fund DWS RREEF Global Infrastructure Fund Cash Management Fund Institutional DWS GNMA Fund DWS RREEF Global Real Estate Securities Cash Reserve Fund, Inc. DWS Gold & Precious Metals Fund Fund Prime Series DWS Growth & Income Fund DWS RREEF Real Estate Securities Fund Cash Reserves Fund Institutional DWS Health Care Fund DWS S&P 500 Index Fund DWS Alternative Asset Allocation Plus Fund DWS High Income Fund DWS S&P 500 Plus Fund DWS Balanced Fund DWS High Income Plus Fund DWS Select Alternative Allocation Fund DWS Blue Chip Fund DWS Inflation Protected Plus Fund DWS Short Duration Fund DWS California Tax-Free Income Fund DWS Intermediate Tax/AMT Free Fund DWS Short Duration Plus Fund DWS Capital Growth Fund DWS International Fund DWS Short-Term Municipal Bond Fund DWS Climate Change Fund DWS International Select Equity Fund DWS Small Cap Core Fund DWS Commodity Securities Fund DWS International Value Opportunities Fund DWS Small Cap Growth Fund DWS Communications Fund DWS Japan Equity Fund DWS Strategic Government Securities Fund DWS Core Fixed Income Fund DWS Large Cap Value Fund DWS Strategic High Yield Tax-Free Fund DWS Core Plus Allocation Fund DWS Large Company Growth Fund DWS Strategic Income Fund DWS Core Plus Income Fund DWS Latin America Equity Fund DWS Target 2010 Fund DWS Disciplined Long/Short Growth Fund DWS LifeCompass 2015 Fund DWS Target 2011 Fund DWS Disciplined Long/Short Value Fund DWS LifeCompass 2020 Fund DWS Target 2012 Fund DWS Disciplined Market Neutral Fund DWS LifeCompass 2030 Fund DWS Target 2013 Fund DWS Dreman Concentrated Value Fund DWS LifeCompass 2040 Fund DWS Target 2014 Fund DWS Dreman High Return Equity Fund DWS LifeCompass Protect 2017 Fund DWS Technology Fund DWS Dreman Mid Cap Value Fund DWS LifeCompass Retirement Fund DWS U.S. Bond Index Fund DWS Dreman Small Cap Value Fund DWS Lifecycle Long Range Fund DWS Value Builder Fund DWS EAFE(R) Equity Index Fund DWS Managed Municipal Bond Fund Investors Cash Trust DWS Emerging Markets Equity Fund DWS Massachusetts Tax-Free Fund Treasury Portfolio DWS Emerging Markets Fixed Income Fund DWS Micro Cap Fund NY Tax Free Money Fund DWS Equity 500 Index Fund Tax Free Money Fund Investment DWS Equity Income Fund Tax-Exempt California Money Market Fund ------------------------------------------------------------------------------------------------------------------------------------
The following information replaces similar disclosure under "Revenue Sharing" in the "Purchase and Redemption of Shares" section of each Fund's/Portfolio's Statements of Additional Information: Revenue Sharing In light of recent regulatory developments, the Advisor, the Distributor and their affiliates have undertaken to furnish certain additional information below regarding the level of payments made by them to selected affiliated and unaffiliated brokers, dealers, participating insurance companies or other financial intermediaries ("financial advisors") in connection with the sale and/or distribution of Fund shares or the retention and/or servicing of investors and Fund shares ("revenue sharing"). The Advisor, the Distributor and/or their affiliates may pay additional compensation, out of their own assets and not as an additional charge to each Fund, to financial advisors in connection with the sale and/or distribution of Fund shares or the retention and/or servicing of Fund investors and Fund shares. Such revenue sharing payments are in addition to any distribution or service fees payable under any Rule 12b-1 or service plan of any fund, any record keeping/sub-transfer agency/networking fees payable by each Fund (generally through the Distributor or an affiliate) and/or the Distributor to certain financial advisors for performing such services and any sales charges, commissions, non-cash compensation arrangements expressly permitted under applicable rules of FINRA or other concessions described in the fee table or elsewhere in the Prospectuses or the SAI as payable to all financial advisors. For example, the Advisor, the Distributor and/or their affiliates may compensate financial advisors for providing each Fund with "shelf space" or access to a third party platform or fund offering list, or other marketing programs including, without limitation, inclusion of each Fund on preferred or recommended sales lists, mutual fund "supermarket" platforms and other formal sales programs; granting the Distributor access to the financial advisor's sales force; granting the Distributor access to the financial advisor's conferences and meetings; assistance in training and educating the financial advisor's personnel; and, obtaining other forms of marketing support. The level of revenue sharing payments made to financial advisors may be a fixed fee or based upon one or more of the following factors: gross sales, current assets and/or number of accounts of each Fund attributable to the financial advisor, the particular fund or fund type or other measures as agreed to by the Advisor, the Distributor and/or their affiliates and the financial advisors or any combination thereof. The amount of these payments is determined at the discretion of the Advisor, the Distributor and/or their affiliates from time to time, may be substantial, and may be different for different financial advisors based on, for example, the nature of the services provided by the financial advisor. The Advisor, the Distributor and/or their affiliates currently make revenue sharing payments from their own assets in connection with the sale and/or distribution of DWS fund shares, or the retention and/or servicing of investors, to financial advisors in amounts that generally range from .01% up to .50% of assets of the Fund serviced and maintained by the financial advisor, .05% to .25% of sales of the Fund attributable to the financial advisor, a flat fee of $13,350 up to $500,000, or any combination thereof. These amounts are annual figures typically paid on a quarterly basis and are subject to change at the discretion of the Advisor, the Distributor and/or their affiliates. Receipt of, or the prospect of receiving, this additional compensation, may influence your financial advisor's recommendation of this Fund or of any particular share class of the Fund. You should review your financial advisor's compensation disclosure and/or talk to your financial advisor to obtain more information on how this compensation may have influenced your financial advisor's recommendation of this Fund. The Advisor, the Distributor and/or their affiliates may also make such revenue sharing payments to financial advisors under the terms discussed above in connection with the distribution of both DWS funds and non-DWS funds by financial advisors to retirement plans that obtain record keeping services from ADP, Inc. on the DWS Investments branded retirement plan platform (the "Platform") with the level of revenue sharing payments being based upon sales of both the DWS funds and the non-DWS funds by the financial advisor on the Platform or current assets of both the DWS funds and the non-DWS funds serviced and maintained by the financial advisor on the Platform. As of the date hereof, each Fund has been advised that the Advisor, the Distributor and their affiliates expect that the following firms will receive revenue sharing payments at different points during the coming year as described above: Channel: Broker-Dealers and Financial Advisors ---------------------------------------------- AIG Advisors Group Ameriprise Cadaret, Grant & Co. Inc. Capital Analyst, Incorporated Citigroup Global Markets, Inc. (dba Smith Barney) Commonwealth Equity Services, LLP (dba Commonwealth Financial Network) Deutsche Bank Group Ensemble Financial Services First Allied Securities First Clearing/Wachovia Securities HD Vest Investment Securities, Inc. ING Advisors Network John Hancock Distributors LLC LPL Financial M.L. Stern & Co. Meridien Financial Group Merrill Lynch, Pierce, Fenner & Smith Inc. Morgan Stanley Oppenheimer & Co., Inc. PlanMember Services Prime Capital Inc. Raymond James & Associates Raymond James Financial Services RBC Dain Rauscher, Inc Securities America, Inc. UBS Financial Services Wells Fargo Investments, LLC 2 Channel: Cash Product Platform ------------------------------ Allegheny Investments LTD Bank of America Bank of New York (Hare & Co.) BMO Capital Markets Brown Brothers Harriman Brown Investment Advisory & Trust Company Cadaret Grant & Co. Chicago Mercantile Exchange D.A. Davidson & Company Deutsche Bank Group Emmett A. Larkin Company Fiduciary Trust Co. - International First Southwest Company J.P. Morgan Clearing Corp. Legent Clearing LLC Lincoln Investment Planning LPL Financial Mellon Financial Markets LLC Mesirow Financial, Inc. Penson Financial Services Pershing Choice Platform ProFunds Distributors, Inc. Ridge Clearing & Outsourcing Solutions Robert W. Baird & Co. Romano Brothers and Company SAMCO Capital Markets Smith Moore & Company Sungard Institutional Brokerage Inc. Treasury Curve LLC US Bancorp UBS Financial Services William Blair & Company Channel: Third Party Insurance Platforms ---------------------------------------- Allstate Life Insurance Company of New York Ameritas Life Insurance Group Annuity Investors Life Insurance Company Columbus Life Insurance Company Commonwealth Annuity and Life Insurance Company Companion Life Insurance Company Connecticut General Life Insurance Company EquiTrust Life Insurance Company Farm Bureau Life Insurance Company Farmers New World Life Insurance Company Fidelity Security Life Insurance Company First Allmerica Financial Life Insurance Company First Great West Life and Annuity Company Genworth Life Insurance Company of New York Genworth Life and Annuity Insurance Company Great West Life and Annuity Insurance Company Hartford Life Insurance Company Integrity Life Insurance Company John Hancock Life Insurance companies Kemper Investors Life Insurance Company Lincoln Benefit Life Insurance Company Lincoln Life & Annuity Company of New York 3 Lincoln National Life Insurance Company Massachusetts Mutual Life Insurance Group MetLife Group Minnesota Life Insurance Company National Life Insurance Company National Integrity Life Insurance Company Nationwide Group New York Life Insurance and Annuity Corporation Phoenix Life Insurance Company Protective Life Insurance Provident Mutual Life Insurance Prudential Insurance Company of America Sun Life Group Symetra Life Insurance Company Transamerica Life Insurance Company Union Central Life Insurance Company United of Omaha Life Insurance Company United Investors Life Insurance Company Western Southern Life Assurance Company Any additions, modifications or deletions to the financial advisors identified above that have occurred since the date hereof are not reflected. The Advisor, the Distributor or their affiliates may enter into additional revenue sharing arrangements or change or discontinue existing arrangements with financial advisors at any time without notice. The prospect of receiving, or the receipt of additional compensation or promotional incentives described above by financial advisors may provide such financial advisors and/or their salespersons with an incentive to favor sales of shares of the DWS funds or a particular DWS fund over sales of shares of mutual funds (or non-mutual fund investments) with respect to which the financial advisor does not receive additional compensation or promotional incentives, or receives lower levels of additional compensation or promotional incentives. Similarly, financial advisors may receive different compensation or incentives that may influence their recommendation of any particular share class of the Fund or of other funds. These payment arrangements, however, will not change the price that an investor pays for Fund shares or the amount that the Fund receives to invest on behalf of an investor and will not increase Fund expenses. You may wish to take such payment arrangements into account when considering and evaluating any recommendations relating to Fund shares and you should discuss this matter with your financial advisor and review your financial advisor's disclosures. It is likely that broker-dealers that execute portfolio transactions for the Fund will include firms that also sell shares of the DWS funds to their customers. However, the Advisor will not consider sales of DWS fund shares as a factor in the selection of broker-dealers to execute portfolio transactions for the DWS funds. Accordingly, the Advisor has implemented policies and procedures reasonably designed to prevent its traders from considering sales of DWS fund shares as a factor in the selection of broker-dealers to execute portfolio transactions for the Fund. In addition, the Advisor, the Distributor and/or their affiliates will not use fund brokerage to pay for their obligation to provide additional compensation to financial advisors as described above. Please Retain This Supplement for Future Reference March 17, 2009 4