N-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

_______________________________

Investment Company Act file number:  811-05689

Deutsche Multi-Market Income Trust

(Exact name of registrant as specified in charter)

345 Park Avenue

New York, NY 10154

(Address of principal executive offices)  (Zip code)

Paul Schubert

60 Wall Street

New York, NY 10005

(Name and address of agent for service)

Registrant's telephone number, including area code:  (212) 250-3220

Date of fiscal year end:  11/30

Date of reporting period:  2/28/2015

ITEM 1. SCHEDULE OF INVESTMENTS

Investment Portfolio    as ofFebruary 28, 2015  (Unaudited)

Deutsche Multi-Market Income Trust

				Principal Amount ($) (a)				Value ($)
	Corporate Bonds 84.6%
Consumer Discretionary 13.8%
Ally Financial, Inc., 3.25%, 2/13/2018					935,000			935,000
AMC Entertainment, Inc., 5.875%, 2/15/2022					295,000			306,063
AmeriGas Finance LLC:
	6.75%, 5/20/2020				625,000			667,187
	7.0%, 5/20/2022				485,000			518,950
APX Group, Inc., 6.375%, 12/1/2019					295,000			295,738
Arcelik AS, 144A, 5.0%, 4/3/2023					815,000			784,030
Asbury Automotive Group, Inc., 6.0%, 12/15/2024					525,000			549,937
Ashtead Capital, Inc., 144A, 6.5%, 7/15/2022					455,000			494,812
Ashton Woods U.S.A. LLC, 144A, 6.875%, 2/15/2021					465,000			415,012
Avis Budget Car Rental LLC, 5.5%, 4/1/2023					770,000			806,575
Block Communications, Inc., 144A, 7.25%, 2/1/2020					580,000			600,300
Cablevision Systems Corp.:
	5.875%, 9/15/2022				575,000			595,125
	8.0%, 4/15/2020				510,000			580,762
CCOH Safari LLC:
	5.5%, 12/1/2022				280,000			289,450
	5.75%, 12/1/2024				280,000			289,800
Cequel Communications Holdings I LLC:
	144A, 5.125%, 12/15/2021				815,000			813,981
	144A, 6.375%, 9/15/2020				1,630,000			1,727,800
Clear Channel Worldwide Holdings, Inc.:
	Series A, 6.5%, 11/15/2022				355,000			371,862
	Series B, 6.5%, 11/15/2022				525,000			553,875
	Series A, 7.625%, 3/15/2020				85,000			89,038
	Series B, 7.625%, 3/15/2020				865,000			914,737
Cogeco Cable, Inc., 144A, 4.875%, 5/1/2020					35,000			35,700
CSC Holdings LLC, 144A, 5.25%, 6/1/2024					970,000			990,612
Cumulus Media Holdings, Inc., 7.75%, 5/1/2019					265,000			275,600
Dana Holding Corp., 5.5%, 12/15/2024					195,000			201,338
DISH DBS Corp.:
	5.0%, 3/15/2023				460,000			442,750
	6.75%, 6/1/2021				110,000			117,288
Family Tree Escrow LLC:
	144A, 5.25%, 3/1/2020				1,110,000			1,159,950
	144A, 5.75%, 3/1/2023				350,000			368,375
Goodyear Tire & Rubber Co., 6.5%, 3/1/2021					1,000,000			1,075,000
Group 1 Automotive, Inc., 144A, 5.0%, 6/1/2022					545,000			545,000
Harron Communications LP, 144A, 9.125%, 4/1/2020					605,000			662,475
HD Supply, Inc.:
	144A, 5.25%, 12/15/2021				290,000			301,238
	7.5%, 7/15/2020				105,000			112,350
	11.5%, 7/15/2020				355,000			408,250
Hot Topic, Inc., 144A, 9.25%, 6/15/2021					195,000			213,038
iHeartCommunications, Inc.:
	9.0%, 12/15/2019				710,000			701,125
	11.25%, 3/1/2021				195,000			200,850
Jo-Ann Stores Holdings, Inc., 144A, 9.75%, 10/15/2019					175,000			164,063
Live Nation Entertainment, Inc.:
	144A, 5.375%, 6/15/2022				70,000			71,050
	144A, 7.0%, 9/1/2020				470,000			504,075
MDC Partners, Inc., 144A, 6.75%, 4/1/2020					330,000			347,325
Mediacom Broadband LLC:
	5.5%, 4/15/2021				70,000			71,225
	6.375%, 4/1/2023				610,000			642,787
Mediacom LLC, 7.25%, 2/15/2022					165,000			178,200
MGM Resorts International:
	6.0%, 3/15/2023				300,000			312,000
	6.75%, 10/1/2020				615,000			672,272
	8.625%, 2/1/2019				770,000			885,500
Nielsen Finance LLC, 144A, 5.0%, 4/15/2022					155,000			158,488
Numericable-SFR:
	144A, 4.875%, 5/15/2019				715,000			715,000
	144A, 6.0%, 5/15/2022				1,070,000			1,088,725
	144A, 6.25%, 5/15/2024				315,000			323,348
Penske Automotive Group, Inc., 5.375%, 12/1/2024					700,000			724,500
Pinnacle Entertainment, Inc., 6.375%, 8/1/2021					210,000			223,125
Quebecor Media, Inc., 5.75%, 1/15/2023					295,000			308,275
Seminole Hard Rock Entertainment, Inc., 144A, 5.875%, 5/15/2021					180,000			180,450
Serta Simmons Holdings LLC, 144A, 8.125%, 10/1/2020					165,000			175,725
Sirius XM Radio, Inc., 144A, 5.875%, 10/1/2020					310,000			326,662
Springs Industries, Inc., 6.25%, 6/1/2021					415,000			405,662
Starz LLC, 5.0%, 9/15/2019					230,000			236,900
Suburban Propane Partners LP, 5.75%, 3/1/2025					150,000			153,750
TRI Pointe Holdings, Inc., 144A, 4.375%, 6/15/2019					185,000			182,919
UCI International, Inc., 8.625%, 2/15/2019					165,000			152,213
Unitymedia Hessen GmbH & Co., KG, 144A, 5.5%, 1/15/2023					1,320,000			1,392,600
Viking Cruises Ltd., 144A, 8.5%, 10/15/2022					295,000			329,662
Visant Corp., 10.0%, 10/1/2017					80,000			72,200
								31,409,674
Consumer Staples 1.8%
Chiquita Brands International, Inc., 7.875%, 2/1/2021					59,000			64,752
Cott Beverages, Inc.:
	144A, 5.375%, 7/1/2022				515,000			475,087
	144A, 6.75%, 1/1/2020				195,000			195,000
FAGE Dairy Industry SA, 144A, 9.875%, 2/1/2020					500,000			525,000
JBS Investments GmbH, 144A, 7.25%, 4/3/2024					710,000			724,200
JBS U.S.A. LLC:
	144A, 7.25%, 6/1/2021				775,000			815,219
	144A, 8.25%, 2/1/2020				240,000			254,400
Marfrig Overseas Ltd., 144A, 9.5%, 5/4/2020					500,000			490,500
Post Holdings, Inc., 144A, 6.75%, 12/1/2021					155,000			158,487
Roundy's Supermarkets, Inc., 144A, 10.25%, 12/15/2020					75,000			63,750
Smithfield Foods, Inc., 6.625%, 8/15/2022					15,000			16,313
The WhiteWave Foods Co., 5.375%, 10/1/2022					205,000			220,119
								4,002,827
Energy 12.8%
Afren PLC, 144A, 10.25%, 4/8/2019					1,492,000			587,848
Antero Resources Corp., 5.125%, 12/1/2022					365,000			359,525
Antero Resources Finance Corp., 5.375%, 11/1/2021					320,000			322,400
Baytex Energy Corp.:
	144A, 5.125%, 6/1/2021				85,000			80,963
	144A, 5.625%, 6/1/2024				125,000			117,906
Berry Petroleum Co., LLC:
	6.375%, 9/15/2022				285,000			226,575
	6.75%, 11/1/2020				805,000			680,225
Blue Racer Midstream LLC, 144A, 6.125%, 11/15/2022					120,000			123,600
BreitBurn Energy Partners LP:
	7.875%, 4/15/2022				305,000			240,950
	8.625%, 10/15/2020				30,000			24,600
California Resources Corp.:
	144A, 5.0%, 1/15/2020				150,000			137,625
	144A, 5.5%, 9/15/2021				357,000			325,762
	144A, 6.0%, 11/15/2024				145,000			129,231
Chaparral Energy, Inc., 7.625%, 11/15/2022					255,000			188,700
Chesapeake Energy Corp.:
	5.75%, 3/15/2023				460,000			480,125
	6.125%, 2/15/2021				50,000			53,125
Concho Resources, Inc., 5.5%, 4/1/2023					200,000			207,000
Continental Resources, Inc., 3.8%, 6/1/2024					455,000			424,183
Crestwood Midstream Partners LP, 6.125%, 3/1/2022					245,000			246,225
Delek & Avner Tamar Bond Ltd., 144A, 5.082%, 12/30/2023					1,000,000			1,012,749
Dresser-Rand Group, Inc., 6.5%, 5/1/2021					380,000			404,700
Ecopetrol SA, 5.875%, 5/28/2045					800,000			767,920
Endeavor Energy Resources LP, 144A, 7.0%, 8/15/2021					740,000			717,800
EP Energy LLC, 6.875%, 5/1/2019					520,000			533,000
EV Energy Partners LP, 8.0%, 4/15/2019					1,405,000			1,326,882
Halcon Resources Corp., 8.875%, 5/15/2021					39,000			29,640
Holly Energy Partners LP, 6.5%, 3/1/2020					165,000			160,875
Inkia Energy Ltd., 144A, 8.375%, 4/4/2021					690,000			710,700
Ithaca Energy, Inc., 144A, 8.125%, 7/1/2019					215,000			174,150
Jupiter Resources, Inc., 144A, 8.5%, 10/1/2022					210,000			170,100
Linn Energy LLC, 6.25%, 11/1/2019					200,000			170,500
MEG Energy Corp.:
	144A, 6.5%, 3/15/2021				325,000			314,438
	144A, 7.0%, 3/31/2024				965,000			939,669
Memorial Resource Development Corp., 144A, 5.875%, 7/1/2022					245,000			235,200
Murphy Oil U.S.A., Inc., 6.0%, 8/15/2023					400,000			426,500
Newfield Exploration Co., 5.75%, 1/30/2022					305,000			319,488
Northern Oil & Gas, Inc., 8.0%, 6/1/2020					875,000			805,000
Nostrum Oil & Gas Finance BV, 144A, 6.375%, 2/14/2019					1,500,000			1,271,250
Oasis Petroleum, Inc.:
	6.875%, 3/15/2022				320,000			313,600
	6.875%, 1/15/2023				215,000			208,013
Offshore Drilling Holding SA, 144A, 8.625%, 9/20/2020					1,000,000			810,000
Pacific Rubiales Energy Corp., 144A, 5.375%, 1/26/2019					1,500,000			1,106,250
Petroleos Mexicanos, 144A, 5.625%, 1/23/2046					800,000			820,400
PT Pertamina Persero, 144A, 5.25%, 5/23/2021					410,000			438,187
QGOG Atlantic, 144A, 5.25%, 7/30/2018					1,592,700			1,393,612
Ras Laffan Liquefied Natural Gas Co., Ltd. II, 144A, 5.298%, 9/30/2020					1,393,650			1,501,658
Regency Energy Partners LP:
	5.0%, 10/1/2022				135,000			143,100
	5.875%, 3/1/2022				35,000			38,238
Reliance Holding U.S.A., Inc., 144A, 5.4%, 2/14/2022					1,250,000			1,375,857
RSP Permian, Inc., 144A, 6.625%, 10/1/2022					280,000			281,750
Sabine Pass Liquefaction LLC:
	5.625%, 2/1/2021				980,000			1,003,275
	5.625%, 4/15/2023				220,000			224,950
	144A, 5.625%, 3/1/2025 (b)				260,000			261,300
	5.75%, 5/15/2024				675,000			690,187
Schahin II Finance Co. SPV Ltd., 144A, 5.875%, 9/25/2022					1,349,000			812,772
Seventy Seven Energy, Inc., 6.5%, 7/15/2022					60,000			31,200
Seventy Seven Operating LLC, 6.625%, 11/15/2019					315,000			252,788
Talos Production LLC, 144A, 9.75%, 2/15/2018					545,000			471,425
Targa Resources Partners LP:
	144A, 4.125%, 11/15/2019				75,000			76,313
	144A, 5.0%, 1/15/2018				540,000			561,600
TerraForm Power Operating LLC, 144A, 5.875%, 2/1/2023					255,000			265,200
Triangle U.S.A. Petroleum Corp., 144A, 6.75%, 7/15/2022					175,000			143,500
Welltec A/S, 144A, 8.0%, 2/1/2019					200,000			182,000
Whiting Petroleum Corp., 5.75%, 3/15/2021					200,000			197,000
								29,051,304
Financials 6.2%
Banco do Brasil SA, 144A, 9.0%, 6/29/2049					1,500,000			1,267,500
Banco Santander Brasil SA, 144A, 8.0%, 3/18/2016		BRL			1,000,000			334,654
BBVA Bancomer SA, 144A, 6.75%, 9/30/2022					1,800,000			2,045,880
CIMPOR Financial Operations BV, 144A, 5.75%, 7/17/2024					250,000			198,125
CIT Group, Inc., 3.875%, 2/19/2019					1,475,000			1,487,906
Corpbanca SA, 144A, 3.875%, 9/22/2019					2,000,000			2,020,376
Country Garden Holdings Co., Ltd., 144A, 11.125%, 2/23/2018					800,000			846,000
Credit Agricole SA, 144A, 7.875%, 1/29/2049					455,000			478,687
Credit Suisse Group AG, 144A, 6.25%, 12/29/2049					290,000			287,361
Denali Borrower LLC, 144A, 5.625%, 10/15/2020					300,000			319,500
E*TRADE Financial Corp., 5.375%, 11/15/2022					180,000			189,900
Hellas Telecommunications Finance, 144A, 8.071% **, 7/15/2015 *		EUR			278,431			0
MPT Operating Partnership LP:
	(REIT), 6.375%, 2/15/2022				415,000			450,275
	(REIT), 6.875%, 5/1/2021				415,000			447,681
National Savings Bank, 144A, 5.15%, 9/10/2019					500,000			491,175
Neuberger Berman Group LLC, 144A, 5.875%, 3/15/2022					405,000			433,350
Popular, Inc., 7.0%, 7/1/2019					185,000			185,925
Societe Generale SA, 144A, 7.875%, 12/29/2049					735,000			745,106
The Goldman Sachs Group, Inc., Series L, 5.7%, 12/29/2049					360,000			371,700
Yapi ve Kredi Bankasi AS, 144A, 5.5%, 12/6/2022					1,500,000			1,444,920
								14,046,021
Health Care 6.7%
Aviv Healthcare Properties LP, 6.0%, 10/15/2021					165,000			176,550
Community Health Systems, Inc.:
	5.125%, 8/1/2021				75,000			78,188
	6.875%, 2/1/2022				300,000			320,812
	7.125%, 7/15/2020				2,715,000			2,901,656
Crimson Merger Sub, Inc., 144A, 6.625%, 5/15/2022					730,000			677,075
Endo Finance LLC:
	144A, 5.375%, 1/15/2023				285,000			289,988
	144A, 5.75%, 1/15/2022				305,000			321,394
	144A, 6.0%, 2/1/2025				150,000			158,813
Fresenius Medical Care U.S. Finance, Inc., 144A, 6.5%, 9/15/2018					170,000			189,550
HCA, Inc.:
	5.25%, 4/15/2025				155,000			170,306
	5.375%, 2/1/2025				355,000			376,300
	6.5%, 2/15/2020				1,700,000			1,933,750
	7.5%, 2/15/2022				620,000			731,600
Hologic, Inc., 6.25%, 8/1/2020					300,000			314,250
IMS Health, Inc., 144A, 6.0%, 11/1/2020					365,000			381,425
LifePoint Hospitals, Inc, 5.5%, 12/1/2021					385,000			409,062
Par Pharmaceutical Companies, Inc., 7.375%, 10/15/2020					475,000			503,500
Physio-Control International, Inc., 144A, 9.875%, 1/15/2019					228,000			243,390
Valeant Pharmaceuticals International, Inc.:
	144A, 6.375%, 10/15/2020				320,000			336,800
	144A, 6.75%, 8/15/2018				3,025,000			3,214,062
	144A, 7.5%, 7/15/2021				1,455,000			1,578,675
								15,307,146
Industrials 11.8%
ADT Corp.:
	3.5%, 7/15/2022				190,000			174,325
	4.125%, 4/15/2019				65,000			65,894
	5.25%, 3/15/2020				320,000			335,200
	6.25%, 10/15/2021				235,000			254,388
Aguila 3 SA, 144A, 7.875%, 1/31/2018					685,000			693,562
Air Lease Corp., 4.75%, 3/1/2020					415,000			447,162
Apex Tool Group LLC, 144A, 7.0%, 2/1/2021					280,000			260,400
Artesyn Embedded Technologies, Inc., 144A, 9.75%, 10/15/2020					395,000			377,225
Belden, Inc., 144A, 5.5%, 9/1/2022					505,000			517,625
Bombardier, Inc.:
	144A, 4.75%, 4/15/2019				215,000			209,625
	144A, 5.5%, 9/15/2018 (b)				100,000			101,375
	144A, 5.75%, 3/15/2022				340,000			324,700
	144A, 6.0%, 10/15/2022				355,000			339,912
	144A, 7.5%, 3/15/2025 (b)				105,000			106,181
	144A, 7.75%, 3/15/2020				1,700,000			1,772,250
Carlson Travel Holdings, Inc., 144A, 7.5%, 8/15/2019					165,000			167,063
Casella Waste Systems, Inc., 7.75%, 2/15/2019					540,000			545,400
Covanta Holding Corp., 5.875%, 3/1/2024					295,000			306,800
Coveris Holdings SA, 144A, 7.875%, 11/1/2019					460,000			466,900
CTP Transportation Products LLC, 144A, 8.25%, 12/15/2019					385,000			402,325
DigitalGlobe, Inc., 144A, 5.25%, 2/1/2021					210,000			203,700
DP World Ltd., 144A, 6.85%, 7/2/2037					500,000			583,860
DR Horton, Inc., 4.0%, 2/15/2020					100,000			101,000
Empresas ICA SAB de CV, 144A, 8.875%, 5/29/2024					1,800,000			1,227,960
Florida East Coast Holdings Corp., 144A, 6.75%, 5/1/2019					300,000			309,375
FTI Consulting, Inc.:
	6.0%, 11/15/2022				295,000			313,437
	6.75%, 10/1/2020				1,095,000			1,156,594
Garda World Security Corp., 144A, 7.25%, 11/15/2021					400,000			391,000
Gates Global LLC, 144A, 6.0%, 7/15/2022					245,000			235,200
GenCorp, Inc., 7.125%, 3/15/2021					690,000			729,675
Huntington Ingalls Industries, Inc., 144A, 5.0%, 12/15/2021					415,000			435,231
Kazakhstan Temir Zholy Finance BV, 144A, 6.375%, 10/6/2020					2,000,000			1,962,360
Kenan Advantage Group, Inc., 144A, 8.375%, 12/15/2018					805,000			837,200
Meritor, Inc.:
	6.25%, 2/15/2024				285,000			289,987
	6.75%, 6/15/2021				400,000			419,000
Moog, Inc., 144A, 5.25%, 12/1/2022					175,000			180,688
Navios Maritime Holdings, Inc., 144A, 7.375%, 1/15/2022					1,150,000			1,078,125
Nortek, Inc., 8.5%, 4/15/2021					315,000			338,625
Odebrecht Finance Ltd., 144A, 5.25%, 6/27/2029					1,100,000			866,250
Odebrecht Offshore Drilling Finance Ltd., 144A, 6.75%, 10/1/2022					1,979,250			1,533,919
Oshkosh Corp.:
	5.375%, 3/1/2022				217,500			222,938
	144A, 5.375%, 3/1/2025 (b)				25,000			25,563
Ply Gem Industries, Inc., 6.5%, 2/1/2022					525,000			507,750
SBA Communications Corp., 5.625%, 10/1/2019					285,000			299,962
Spirit AeroSystems, Inc., 5.25%, 3/15/2022					390,000			406,575
Titan International, Inc., 6.875%, 10/1/2020					945,000			859,950
TransDigm, Inc.:
	6.0%, 7/15/2022				350,000			354,375
	6.5%, 7/15/2024				210,000			214,725
	7.5%, 7/15/2021				1,095,000			1,167,544
Triumph Group, Inc., 5.25%, 6/1/2022					175,000			172,375
United Rentals North America, Inc.:
	5.75%, 7/15/2018				860,000			892,787
	6.125%, 6/15/2023				35,000			37,538
	7.625%, 4/15/2022				455,000			505,419
USG Corp., 144A, 5.5%, 3/1/2025					10,000			10,225
Wise Metals Group LLC, 144A, 8.75%, 12/15/2018					255,000			276,356
XPO Logistics, Inc., 144A, 7.875%, 9/1/2019					255,000			271,097
								27,286,677
Information Technology 5.8%
ACI Worldwide, Inc., 144A, 6.375%, 8/15/2020					140,000			146,300
Activision Blizzard, Inc., 144A, 5.625%, 9/15/2021					1,255,000			1,342,850
Alliance Data Systems Corp., 144A, 5.25%, 12/1/2017					370,000			383,875
Audatex North America, Inc.:
	144A, 6.0%, 6/15/2021				425,000			451,562
	144A, 6.125%, 11/1/2023				120,000			127,200
BMC Software Finance, Inc., 144A, 8.125%, 7/15/2021					615,000			574,256
Boxer Parent Co., Inc., 144A, 9.0%, 10/15/2019					425,000			355,938
Cardtronics, Inc., 144A, 5.125%, 8/1/2022					175,000			171,281
CDW LLC, 5.5%, 12/1/2024					705,000			733,200
CyrusOne LP, 6.375%, 11/15/2022					145,000			153,700
EarthLink Holdings Corp., 7.375%, 6/1/2020					345,000			352,763
Entegris, Inc., 144A, 6.0%, 4/1/2022					215,000			223,600
Equinix, Inc.:
	5.375%, 1/1/2022				240,000			250,200
	5.375%, 4/1/2023				995,000			1,040,397
	5.75%, 1/1/2025				180,000			189,000
First Data Corp.:
	144A, 6.75%, 11/1/2020				1,579,000			1,693,477
	144A, 7.375%, 6/15/2019				365,000			383,250
	144A, 8.75%, 1/15/2022				660,000			712,800
Freescale Semiconductor, Inc., 144A, 6.0%, 1/15/2022					380,000			409,450
Jabil Circuit, Inc., 5.625%, 12/15/2020					400,000			435,000
Micron Technology, Inc., 144A, 5.25%, 8/1/2023					250,000			255,938
NCR Corp.:
	5.875%, 12/15/2021				75,000			77,625
	6.375%, 12/15/2023				190,000			200,925
Open Text Corp., 144A, 5.625%, 1/15/2023					200,000			206,000
Project Homestake Merger Corp., 144A, 8.875%, 3/1/2023 (b)					155,000			157,131
Sanmina Corp., 144A, 4.375%, 6/1/2019					35,000			35,263
Tencent Holdings Ltd., 144A, 3.375%, 5/2/2019					2,000,000			2,053,964
								13,116,945
Materials 10.2%
Ardagh Packaging Finance PLC:
	144A, 3.241% **, 12/15/2019				490,000			481,425
	144A, 6.75%, 1/31/2021				340,000			343,400
Berry Plastics Corp.:
	5.5%, 5/15/2022				600,000			627,000
	9.75%, 1/15/2021				305,000			339,694
Cascades, Inc., 144A, 5.5%, 7/15/2022					185,000			190,550
Cemex SAB de CV, 144A, 6.5%, 12/10/2019					1,300,000			1,366,625
CITIC Ltd., REG S, 6.8%, 1/17/2023					2,000,000			2,349,340
Clearwater Paper Corp., 144A, 5.375%, 2/1/2025					320,000			327,200
Exopack Holding Corp., 144A, 10.0%, 6/1/2018					335,000			354,262
First Quantum Minerals Ltd.:
	144A, 6.75%, 2/15/2020				200,000			186,000
	144A, 7.0%, 2/15/2021				630,000			584,325
FMG Resources (August 2006) Pty Ltd., 144A, 8.25%, 11/1/2019					410,000			387,450
Greif, Inc., 7.75%, 8/1/2019					870,000			991,800
Hexion U.S. Finance Corp.:
	6.625%, 4/15/2020				805,000			768,775
	8.875%, 2/1/2018				245,000			206,413
Kaiser Aluminum Corp., 8.25%, 6/1/2020					395,000			428,081
KGHM International Ltd., 144A, 7.75%, 6/15/2019					900,000			929,250
Novelis, Inc., 8.75%, 12/15/2020					1,820,000			1,974,700
Perstorp Holding AB, 144A, 8.75%, 5/15/2017					400,000			414,000
Plastipak Holdings, Inc., 144A, 6.5%, 10/1/2021					390,000			396,825
PSPC Escrow Corp., 144A, 6.5%, 2/1/2022					235,000			247,631
Rain CII Carbon LLC:
	144A, 8.0%, 12/1/2018				370,000			357,050
	144A, 8.25%, 1/15/2021				225,000			217,406
Reynolds Group Issuer, Inc.:
	5.75%, 10/15/2020				3,720,000			3,864,150
	6.875%, 2/15/2021				760,000			803,700
	8.25%, 2/15/2021				265,000			278,913
Sealed Air Corp.:
	144A, 4.875%, 12/1/2022				120,000			123,600
	144A, 5.125%, 12/1/2024				60,000			62,700
Signode Industrial Group Lux SA, 144A, 6.375%, 5/1/2022					285,000			280,725
Tronox Finance LLC, 6.375%, 8/15/2020					275,000			273,969
Turkiye Sise ve Cam Fabrikalari AS, 144A, 4.25%, 5/9/2020					1,000,000			976,250
Volcan Cia Minera SAA, 144A, 5.375%, 2/2/2022					1,565,000			1,491,445
WR Grace & Co-Conn:
	144A, 5.125%, 10/1/2021				105,000			108,675
	144A, 5.625%, 10/1/2024				55,000			59,125
								22,792,454
Telecommunication Services 12.9%
Altice Financing SA:
	144A, 6.5%, 1/15/2022				240,000			248,400
	144A, 7.875%, 12/15/2019				335,000			355,938
Altice Finco SA, 144A, 9.875%, 12/15/2020					335,000			372,688
Altice SA, 144A, 7.75%, 5/15/2022					335,000			345,888
B Communications Ltd., 144A, 7.375%, 2/15/2021					370,000			395,900
Bharti Airtel International Netherlands BV, 144A, 5.125%, 3/11/2023					1,400,000			1,521,353
CenturyLink, Inc.:
	Series V, 5.625%, 4/1/2020				145,000			155,150
	Series W, 6.75%, 12/1/2023				405,000			457,397
Cincinnati Bell, Inc., 8.375%, 10/15/2020					2,005,000			2,135,325
CommScope, Inc., 144A, 5.0%, 6/15/2021					350,000			354,375
Digicel Group Ltd.:
	144A, 7.125%, 4/1/2022				355,000			338,138
	144A, 8.25%, 9/30/2020				1,703,000			1,722,584
Digicel Ltd.:
	144A, 6.75%, 3/1/2023 (b)				390,000			393,412
	144A, 7.0%, 2/15/2020				200,000			205,000
Frontier Communications Corp.:
	6.25%, 9/15/2021				160,000			164,400
	6.875%, 1/15/2025				680,000			681,700
	7.125%, 1/15/2023				1,925,000			2,009,219
	8.5%, 4/15/2020				130,000			146,900
Hughes Satellite Systems Corp.:
	6.5%, 6/15/2019				1,100,000			1,201,750
	7.625%, 6/15/2021				335,000			371,850
Intelsat Jackson Holdings SA:
	5.5%, 8/1/2023				600,000			567,750
	7.5%, 4/1/2021				1,770,000			1,854,075
Intelsat Luxembourg SA:
	7.75%, 6/1/2021				945,000			875,306
	8.125%, 6/1/2023				145,000			134,850
Level 3 Financing, Inc.:
	5.375%, 8/15/2022				750,000			776,017
	6.125%, 1/15/2021				230,000			243,513
	7.0%, 6/1/2020				550,000			591,365
Millicom International Cellular SA, 144A, 4.75%, 5/22/2020					800,000			780,000
Pacnet Ltd., 144A, 9.0%, 12/12/2018					240,000			265,800
Sprint Communications, Inc.:
	144A, 7.0%, 3/1/2020				320,000			354,499
	144A, 9.0%, 11/15/2018				1,085,000			1,261,312
Sprint Corp., 7.125%, 6/15/2024					1,325,000			1,318,375
T-Mobile U.S.A., Inc.:
	6.125%, 1/15/2022				155,000			163,138
	6.625%, 11/15/2020				600,000			633,000
Turk Telekomunikasyon AS, 144A, 3.75%, 6/19/2019					2,000,000			2,005,000
UPCB Finance V Ltd., 144A, 7.25%, 11/15/2021					725,000			793,875
UPCB Finance VI Ltd., 144A, 6.875%, 1/15/2022					495,000			536,456
Wind Acquisition Finance SA, 144A, 6.5%, 4/30/2020					290,000			307,400
Windstream Corp.:
	6.375%, 8/1/2023				350,000			322,000
	7.5%, 4/1/2023				590,000			579,675
	7.75%, 10/15/2020				115,000			118,991
	7.75%, 10/1/2021				990,000			999,900
Zayo Group LLC, 144A, 6.0%, 4/1/2023					200,000			204,500
								29,264,164
Utilities 2.6%
Calpine Corp.:
	5.375%, 1/15/2023				290,000			294,350
	5.75%, 1/15/2025				290,000			295,800
Dynegy Finance I, Inc., 144A, 7.625%, 11/1/2024					50,000			53,063
Energy Future Holdings Corp., Series Q, 6.5%, 11/15/2024 *					400,000			372,000
Hrvatska Elektroprivreda, 144A, 6.0%, 11/9/2017					1,600,000			1,676,000
NGL Energy Partners LP, 5.125%, 7/15/2019					245,000			238,875
NRG Energy, Inc.:
	6.25%, 5/1/2024				1,050,000			1,071,000
	7.875%, 5/15/2021				275,000			298,925
RJS Power Holdings LLC, 144A, 5.125%, 7/15/2019					250,000			246,250
Saudi Electricity Global Sukuk Co. 3, 144A, 5.5%, 4/8/2044					1,000,000			1,112,500
								5,658,763
Total Corporate Bonds (Cost $194,922,418)						191,935,975
	Government & Agency Obligations 9.9%
Other Government Related (c) 0.4%
VTB Bank OJSC, 144A, 6.315%, 2/22/2018					985,000			888,962
Sovereign Bonds 9.5%
Dominican Republic, 144A, 6.85%, 1/27/2045					500,000			532,500
Federative Republic of Brazil, 12.5%, 1/5/2016		BRL			2,070,000			731,017
Hazine Mustesarligi Varlik Kiralama AS, 144A, 2.803%, 3/26/2018					2,000,000			1,979,000
KazAgro National Management Holding JSC, 144A, 4.625%, 5/24/2023					1,250,000			1,081,200
Perusahaan Penerbit SBSN, 144A, 4.35%, 9/10/2024					500,000			518,750
Republic of Argentina-Inflation Linked Bond, 5.83%, 12/31/2033		ARS			654			243
Republic of Chile, 3.125%, 3/27/2025					375,000			392,812
Republic of El Salvador:
	144A, 6.375%, 1/18/2027				350,000			355,688
	144A, 7.65%, 6/15/2035				500,000			532,500
Republic of Hungary:
	4.0%, 3/25/2019				800,000			838,000
	6.5%, 6/24/2019	HUF			51,600,000			223,783
Republic of Indonesia:
	144A, 3.375%, 4/15/2023				1,800,000			1,784,250
	144A, 5.125%, 1/15/2045				710,000			756,150
Republic of Panama:
	4.0%, 9/22/2024				430,000			452,575
	9.375%, 1/16/2023				2,610,000			3,627,900
Republic of Paraguay, 144A, 6.1%, 8/11/2044					200,000			220,750
Republic of Poland, Series 0725, 3.25%, 7/25/2025		PLN			1,240,000			367,566
Republic of Slovenia:
	144A, 4.75%, 5/10/2018				800,000			860,000
	144A, 5.5%, 10/26/2022				2,200,000			2,522,212
Republic of South Africa, 6.875%, 5/27/2019					185,000			212,214
Republic of Sri Lanka, 144A, 5.125%, 4/11/2019					1,000,000			1,002,500
Republic of Turkey, 4.875%, 4/16/2043					900,000			891,963
Republic of Uruguay, 5.1%, 6/18/2050					220,000			228,360
United Mexican States:
	3.6%, 1/30/2025				900,000			927,000
	Series M, 4.75%, 6/14/2018	MXN			5,900,000			396,049
	Series M 20, 8.5%, 5/31/2029	MXN			2,950,000			244,454
								21,679,436
Total Government & Agency Obligations (Cost $22,388,147)						22,568,398
	Loan Participations and Assignments 39.5%
Senior Loans **
Consumer Discretionary 11.8%
Atlantic Broadband Finance LLC, Term Loan B, 3.25%, 11/30/2019					3,574,034			3,563,991
Avis Budget Car Rental LLC, Term Loan B, 3.0%, 3/15/2019					1,342,915			1,347,957
Cequel Communications LLC, Term Loan B, 3.5%, 2/14/2019					1,510,323			1,513,631
CSC Holdings, Inc., Term Loan B, 2.672%, 4/17/2020					4,151,280			4,141,752
Cumulus Media Holdings, Inc., Term Loan, 4.25%, 12/23/2020					653,429			650,469
Goodyear Tire & Rubber Co., Second Lien Term Loan, 4.75%, 4/30/2019					2,933,333			2,952,591
Hilton Worldwide Finance LLC, Term Loan B2, 3.5%, 10/26/2020					3,786,184			3,790,917
Petco Animal Supplies, Inc., Term Loan, 4.0%, 11/24/2017					536,428			536,897
Polymer Group, Inc., First Lien Term Loan, 5.25%, 12/19/2019					1,514,700			1,522,273
Quebecor Media, Inc., Term Loan B1, 3.25%, 8/17/2020					3,258,746			3,199,698
Seminole Tribe of Florida, Term Loan, 3.0%, 4/29/2020					3,457,350			3,459,511
								26,679,687
Consumer Staples 5.7%
Albertson's LLC, Term Loan B2, 5.375%, 3/21/2019					2,663,766			2,684,304
Big Heart Pet Brands, Term Loan, 3.5%, 3/8/2020					4,307,212			4,306,329
HJ Heinz Co., Term Loan B2, 3.5%, 6/5/2020					1,683,674			1,688,413
Pinnacle Foods Finance LLC:
	Term Loan G, 3.0%, 4/29/2020				1,136,077			1,131,658
	Term Loan H, 3.0%, 4/29/2020				2,560,553			2,551,873
Vogue International, Inc., Term Loan, 5.75%, 2/14/2020					610,388			614,202
								12,976,779
Energy 1.8%
MEG Energy Corp., Term Loan, 3.75%, 3/31/2020					2,298,548			2,219,547
Tallgrass Operations LLC:
	Term Delayed Draw, 4.44%, 11/13/2017				428,031			419,470
	Term Loan B, 5.438%, 11/13/2018				1,338,163			1,332,589
								3,971,606
Financials 0.9%
Asurion LLC, Second Lien Term Loan, 8.5%, 3/3/2021					510,000			515,419
Delos Finance Sarl, Term Loan B, 3.5%, 3/6/2021					1,575,000			1,577,622
								2,093,041
Health Care 3.9%
Amsurg Corp., First Lien Term Loan B, 3.75%, 7/16/2021					800,975			803,482
Community Health Systems, Inc., Term Loan D, 4.25%, 1/27/2021					801,900			804,943
DaVita HealthCare Partners, Inc., Term Loan B, 3.5%, 6/24/2021					3,983,980			3,996,928
Par Pharmaceutical Companies, Inc., Term Loan B2, 4.0%, 9/30/2019					1,187,963			1,183,080
Valeant Pharmaceuticals International, Inc.:
	Term Loan B, 3.5%, 2/13/2019				1,088,490			1,088,604
	Term Loan B, 3.5%, 12/11/2019				1,015,563			1,015,249
								8,892,286
Industrials 3.5%
BE Aerospace, Inc., Term Loan B, 4.0%, 12/16/2021					900,000			903,559
Ply Gem Industries, Inc., Term Loan, 4.0%, 2/1/2021					3,497,878			3,454,890
Transdigm, Inc., Term Loan C, 3.75%, 2/28/2020					2,020,651			2,016,115
WP CPP Holdings LLC, First Lien Term Loan, 4.75%, 12/28/2019					1,652,544			1,655,023
								8,029,587
Information Technology 1.1%
First Data Corp., Term Loan, 4.172%, 3/24/2021					1,775,000			1,782,766
Freescale Semiconductor, Inc., Term Loan B4, 4.25%, 2/28/2020					506,165			505,986
Spansion LLC, Term Loan, 3.75%, 12/19/2019					272,881			272,403
								2,561,155
Materials 4.7%
American Rock Salt Holdings LLC, First Lien Term Loan, 4.75%, 5/20/2021					2,751,175			2,746,360
Axalta Coating Systems U.S. Holdings, Inc., Term Loan, 3.75%, 2/1/2020					1,794,881			1,784,596
Berry Plastics Holding Corp.:
	Term Loan D, 3.5%, 2/8/2020				2,954,887			2,947,692
	Term Loan E, 3.75%, 1/6/2021				1,098,075			1,098,888
MacDermid, Inc.:
	First Lien Term Loan, 4.5%, 6/7/2020				812,625			816,993
	Term Loan B2, 4.75%, 6/7/2020				1,275,000			1,285,621
								10,680,150
Telecommunication Services 3.3%
Crown Castle International Corp., Term Loan B, 3.0%, 1/31/2019					4,331,279			4,339,183
DigitalGlobe, Inc., Term Loan B, 3.75%, 1/31/2020					54,038			54,080
Level 3 Financing, Inc.:
	Term Loan B, 4.0%, 1/15/2020				1,670,000			1,672,714
	Term Loan B5, 4.5%, 1/31/2022				620,000			623,813
Syniverse Holdings, Inc., Term Loan B, 4.0%, 4/23/2019					790,160			782,258
								7,472,048
Utilities 2.8%
Calpine Corp., Term Loan B1, 4.0%, 4/1/2018					2,303,125			2,309,470
NRG Energy, Inc., Term Loan B, 2.75%, 7/2/2018					4,006,963			4,006,121
								6,315,591
Total Loan Participations and Assignments (Cost $89,757,882)						89,671,930
	Convertible Bond 0.3%
Materials
GEO Specialty Chemicals, Inc., 144A, 7.5%, 3/31/2015 (Cost $432,221)					428,424			740,102
	Preferred Security 0.3%
Materials
Hercules, Inc., 6.5%, 6/30/2029 (Cost $460,782)					675,000			607,500
				Shares				Value ($)
	Common Stocks 0.0%
Consumer Discretionary 0.0%
Dawn Holdings, Inc.* (d)			7					20,612
Industrials 0.0%
Congoleum Corp.*			7,900					0
Quad Graphics, Inc.			109					2,554
								2,554
Materials 0.0%
GEO Specialty Chemicals, Inc.*			7,125					4,725
GEO Specialty Chemicals, Inc. 144A*			649					430
								5,155
Total Common Stocks (Cost $114,215)						28,321
	Preferred Stock 0.4%
Financials
Ally Financial, Inc. Series G, 144A, 7.0%  (Cost $856,578)			896					902,860
	Warrants 0.0%
Materials
GEO Specialty Chemicals, Inc., Expiration Date 3/31/2015*			39,514					25,909
Hercules Trust II, Expiration Date 3/31/2029*			400					2,932
Total Warrants (Cost $87,876)						28,841
				Contract Amount				Value ($)
	Call Options Purchased 0.0%
Options on Interest Rate Swap Contracts
Pay Fixed Rate - 3.72% - Receive Floating - 3-Month LIBOR, Swap Expiration Date 4/22/2026, Option Expiration Date 4/20/20161  (Cost $44,415)			900,000					3,954
				Shares				Value ($)
	Cash Equivalents 2.8%
Central Cash Management Fund, 0.06% (e) (Cost $6,234,240)			6,234,240					6,234,240
				% of Net Assets				Value ($)
Total Investment Portfolio (Cost $315,298,774) †			137.8				312,722,121
Other Assets and Liabilities, Net			0.7				1,534,134
Notes Payable			(38.5)				(87,360,000)
Net Assets			100.0				226,896,255

For information on the Fund's policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements.

The following table represents bonds that are in default:

Security	Coupon			Maturity Date	Principal Amount		Cost ($)		Value ($)
Energy Future Holdings Corp.*		6.5	%	11/15/2024	USD	400,000		238,762		372,000
Hellas Telecommunications Finance*		8.071	%	7/15/2015	EUR	278,431		79,885		0
								318,647		372,000

*	Non-income producing security.
**	Floating rate securities’ yields vary with a designated market index or market rate, such as the coupon-equivalent of the U.S. Treasury Bill rate. These securities are shown at their current rate as of February 28, 2015.
†	The cost for federal income tax purposes was $315,259,708.  At February 28, 2015, net unrealized depreciation for all securities based on tax cost was $2,537,587.  This consisted of aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost of $6,223,428 and aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value of $8,761,015.
(a)	Principal amount stated in U.S. dollars unless otherwise noted.
(b)	When-issued security.
(c)	Government-backed debt issued by financial companies or government sponsored enterprises.
(d)	The Fund may purchase securities that are subject to legal or contractual restrictions on resale ("restricted securities").  Restricted securities are securities which have not been registered with the Securities and Exchange Commission under the Securities Act of 1933.  The Fund may be unable to sell a restricted security and it may be more difficult to determine a market value for a restricted security.  Moreover, if adverse market conditions were to develop during the period between the Fund's decision to sell a restricted security and the point at which the Fund is permitted or able to sell such security, the Fund might obtain a price less favorable than the price that prevailed when it decided to sell.  This investment practice, therefore, could have the effect of increasing the level of illiquidity of the Fund.  The future value of these securities is uncertain and there may be changes in the estimated value of these securities.

Schedule of Restricted Securities	Acquisition Date	Cost ($)		Value ($)		Value as % of Net Assets
Dawn Holdings, Inc.*	August 2013		26,381		20,612		0.01

(e)	Affiliated fund managed by Deutsche Investment Management Americas Inc.  The rate shown is the annualized seven-day yield at period end.
144A: Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.
LIBOR: London Interbank Offered Rate; 3-Month LIBOR rate as of February 28, 2015 was 0.26%.
REG S: Securities sold under Regulation S may not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933.
REIT: Real Estate Investment Trust
At February 28, 2015, open written options contracts were as follows:
Options on Interest Rate Swap Contracts

	Swap Effective/ Expiration Date	Contract Amount			Option Expiration Date	Premiums Received ($)		Value ($) (f)
Call Options
Receive Fixed - 4.22% - Pay Floating -   3-Month LIBOR	4/22/2016 4/22/2026		900,000	1	4/20/2016		32,085		(1,654)

(f)	Unrealized appreciation on written options on interest rate swap contracts at February 28, 2015 was $30,431.
At February 28, 2015, open credit default swap contracts sold were as follows:

Bilateral Swaps
Effective/ Expiration Date	Notional Amount ($) (g)	Fixed Cash Flows Received	Underlying Debt Obligation/ Quality Rating (h)	Value ($)	Upfront Payments Paid/ (Received) ($)	Unrealized Appreciation ($)
6/20/2013 9/20/2018	1,000,0002	5.0%	Sprint Communications, Inc., 6.0%, 12/1/2016, B+	80,318	42,264	38,054
12/22/2014 3/20/2020	355,0003	5.0%	General Motors Corp., 6.25%, 10/2/2043, BBB-	63,702	57,124	6,578

Total unrealized appreciation 44,632

(g)

The maximum potential amount of future undiscounted payments that the Fund could be required to make under a credit default swap contract would be the notional amount of the contract.  These potential amounts would be partially offset by any recovery values of the referenced debt obligation or net amounts received from the settlement of buy protection credit default swap contracts entered into by the Fund for the same referenced debt obligation, if any.

(h)

The quality ratings represent the higher of Moody's Investors Service, Inc. ("Moody's") or Standard & Poor's Corporation ("S&P") credit ratings and are unaudited.

Counterparties:
1	Nomura International PLC
2	Bank of America
3	Credit Suisse
At February 28, 2015, the Fund had the following open forward foreign currency exchange contracts:

Contracts to Deliver		In Exchange For		Settlement Date	Unrealized Appreciation ($)			Counterparty
MXN	9,700,000	USD	655,907	3/31/2015		7,755		JPMorgan Chase Securities, Inc.
USD	651,786	MXN	9,800,000	3/31/2015		3,048		BNP Paribas
USD	326,009	MXN	4,900,000	3/31/2015		1,408		Barclays Bank PLC
PLN	1,410,000	USD	387,534	4/7/2015		7,772		BNP Paribas
USD	1,125,796	INR	70,700,000	4/22/2015		2,996		Commonwealth Bank of Australia
Total unrealized appreciation						22,979
Contracts to Deliver		In Exchange For		Settlement Date	Unrealized Depreciation ($)			Counterparty
MXN	14,700,000	USD	982,223	3/31/2015		(29	)	BNP Paribas
USD	1,125,796	INR	70,700,000	5/11/2015		(1,209	)	Commonwealth Bank of Australia
Total unrealized depreciation						(1,238	)

Currency Abbreviations
ARS	Argentine Peso
BRL	Brazilian Real
EUR	Euro
HUF	Hungarian Forint
INR	Indian Rupee
MXN	Mexican Peso
PLN	Polish Zloty
USD	United States Dollar

Fair Value Measurements

Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, and credit risk). Level 3 includes significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.

The following is a summary of the inputs used as of February 28, 2015 in valuing the Fund's investments.

Assets	Level 1		Level 2			Level 3		Total
Fixed Income Investments (i)
Corporate Bonds	$	—	$	191,935,975		$	0	$	191,935,975
Government & Agency Obligations		—		22,568,398			—		22,568,398
Loan Participations and Assignments		—		89,252,460			419,470		89,671,930
Convertible Bond		—		—			740,102		740,102
Preferred Security		—		607,500			—		607,500
Common Stocks (i)		2,554		—			25,767		28,321
Preferred Stock		—		902,860			—		902,860
Warrants		—		—			28,841		28,841
Short-Term Investments		6,234,240		—			—		6,234,240
Derivatives (j)
Purchased Options		—		3,954			—		3,954
Credit Default Swap Contracts		—		44,632			—		44,632
Forward Foreign Currency Exchange Contracts		—		22,979			—		22,979
Total	$	6,236,794	$	305,338,758		$	1,214,180	$	312,789,732
Liabilities	Level 1		Level 2			Level 3		Total
Derivatives (j)
Written Options	$	—	$	(1,654	)	$	—	$	(1,654	)
Forward Foreign Currency Exchange Contracts		—		(1,238	)		—		(1,238	)
Total	$	—	$	(2,892	)	$	—	$	(2,892	)

There have been no transfers between fair value measurement levels during the period ended February 28, 2015.
(i)	See Investment Portfolio for additional detailed categorizations.
(j)	Derivatives include value of options purchased and written options, unrealized appreciation (depreciation) on credit default swap contracts and forward foreign currency exchange contracts.

Derivatives

The following table presents, by major type of derivative contract, the unrealized appreciation (depreciation) of the Fund's derivative instruments as of February 28, 2015 categorized by the primary underlying risk exposure. 

Primary Underlying Risk Disclosure	Swaps		Forward Currency Contracts		Options
Credit Contracts	$	44,632	$	—	$	—
Foreign Exchange Contracts	$	—	$	21,741	$	—
Interest Rate Contracts	$	—	$	—	$	(10,030	)

ITEM 2.	CONTROLS AND PROCEDURES
	(a)The Chief Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.
	(b)There have been no changes in the registrant’s internal control over financial reporting that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal controls over financial reporting.
ITEM 3.	EXHIBITS
	Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant:	Deutsche Multi-Market Income Trust
By:	/s/Brian E. Binder Brian E. Binder President
Date:	April 22, 2015

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/Brian E. Binder Brian E. Binder President
Date:	April 22, 2015
By:	/s/Paul Schubert Paul Schubert Chief Financial Officer and Treasurer
Date:	April 22, 2015

EX-99.CERT

CERTIFICATIONS

I, Brian E. Binder, certify that:

1. I have reviewed this report on Form N-Q of Deutsche Multi-Market Income Trust;

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

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

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

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

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

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

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

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

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

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

By:	/s/Brian E. Binder Brian E. Binder President
Date:	April 22, 2015

CERTIFICATIONS

I, Paul Schubert, certify that:

1. I have reviewed this report on Form N-Q of Deutsche Multi-Market Income Trust;

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

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

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

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

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

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

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

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

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

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

By:	/s/Paul Schubert Paul Schubert Chief Financial Officer and Treasurer
Date:	April 22, 2015