N-CSR

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D. C. 20549

FORM N-CSR

Investment Company Act file number:  811-00043

Deutsche Investment Trust

 (Exact Name of Registrant as Specified in Charter)

345 Park Avenue

New York, NY 10154-0004

 (Address of Principal Executive Offices) (Zip Code)

Registrant’s Telephone Number, including Area Code: (212) 250-3220

Paul Schubert

60 Wall Street

New York, NY 10005

(Name and Address of Agent for Service)

Date of fiscal year end:	9/30
Date of reporting period:	9/30/2014

ITEM 1. REPORT TO STOCKHOLDERS

September 30, 2014

Annual Report

to Shareholders

Deutsche Core Equity Fund

(formerly DWS Core Equity Fund)

Contents

3 Letter to Shareholders

4 Portfolio Management Review

10 Performance Summary

12 Investment Portfolio

18 Statement of Assets and Liabilities

20 Statement of Operations

21 Statement of Changes in Net Assets

22 Financial Highlights

29 Notes to Financial Statements

40 Report of Independent Registered Public Accounting Firm

41 Information About Your Fund's Expenses

43 Tax Information

44 Advisory Agreement Board Considerations and Fee Evaluation

49 Board Members and Officers

54 Account Management Resources

This report must be preceded or accompanied by a prospectus. To obtain a summary prospectus, if available, or prospectus for any of our funds, refer to the Account Management Resources information provided in the back of this booklet. We advise you to consider the fund's objectives, risks, charges and expenses carefully before investing. The summary prospectus and prospectus contain this and other important information about the fund. Please read the prospectus carefully before you invest.

Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. The fund may lend securities to approved institutions. Portfolio management could be wrong in its analysis of industries, companies, economic trends and favor a security that underperforms the market. Stocks may decline in value. See the prospectus for details.

Deutsche Asset & Wealth Management represents the asset management and wealth management activities conducted by Deutsche Bank AG or any of its subsidiaries, including the Advisor and DeAWM Distributors, Inc.

NOT FDIC/NCUA INSURED NO BANK GUARANTEE MAY LOSE VALUE  NOT A DEPOSIT NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

Letter to Shareholders

Dear Shareholder:

I am very pleased to tell you that the DWS funds have been renamed Deutsche funds, aligning more closely with the Deutsche Asset & Wealth Management brand. We are proud to adopt the Deutsche name — a brand that fully represents the global access, discipline and intelligence that support all of our products and services.

Deutsche Asset & Wealth Management combines the asset management and wealth management divisions of Deutsche Bank to deliver a comprehensive suite of active, passive and alternative investment capabilities. Your investment in the Deutsche funds means you have access to the thought leadership and resources of one of the world’s largest and most influential financial institutions.

In conjunction with your fund’s name change, please note that the Deutsche funds’ Web address has changed as well. The former dws-investments.com is now deutschefunds.com.

In addition, key service providers have been renamedas follows:

Former Name	New name, effective August 11, 2014
DWS Investments Distributors, Inc.	DeAWM Distributors, Inc.
DWS Trust Company	DeAWM Trust Company
DWS Investments Service Company	DeAWM Service Company

These changes have no effect on the day-to-day management of your investment, and there is no action required on your part. You will continue to experience the benefits that come from our decades of experience, in-depth research and worldwide network of investment professionals.

Thanks for your continued support. We appreciate your trust and the opportunity to put our capabilities to work for you.

Best regards,

Brian Binder

President, Deutsche Funds

Portfolio Management Review (Unaudited)

Market Overview and Fund Performance

All performance information below is historical and does not guarantee future results. Returns shown are for Class A shares, unadjusted for sales charges. Investment return and principal fluctuate, so your shares may be worth more or less when redeemed. Current performance may differ from performance data shown. Please visit deutschefunds.com for the most recent month-end performance of all share classes. Fund performance includes reinvestment of all distributions. Unadjusted returns do not reflect sales charges and would have been lower if they had. Please refer to pages 10 through 11 for more complete performance information.

Investment Process

In choosing stocks, portfolio management combines quantitative screens with fundamental research. Portfolio management begins by utilizing proprietary quantitative models to rank securities within specific industry groups based on a number of factors, including valuation, momentum, sales growth and profitability. Portfolio management then applies a range of fundamental factors, including macroeconomic views and economic outlook, secular themes and company fundamentals, to construct the portfolio. The fundamental factors considered and quantitative models used by portfolio management may change over time. Portfolio management will normally sell a stock when it believes the price is unlikely to go higher, the company’s fundamentals have changed, other investments offer better opportunities or in the course of adjusting the fund’s exposure to a given industry.

Deutsche Core Equity Fund produced a total return of 19.18% during the past 12 months, slightly outperforming the 19.01% return of the benchmark, the Russell 1000® Index. The fund also outpaced the 16.84% average return of the funds in its Morningstar peer group, Large Blend Funds.

The U.S. stock market delivered a robust gain during the past year, reflecting the continued strength in investors’ appetite for risk. U.S. equities were boosted by favorable earnings trends and the relative strength of the country’s economy compared to its major developed-market counterparts. Given the backdrop of improving growth and the likelihood that the U.S. Federal Reserve Board (the Fed) will maintain its policy of near-zero interest rates until the middle of next year, investors continued to move cash out of lower-risk investments and into equities. These positive trends propelled the Russell 1000 Index to a series of all-time highs during the course of the year, the most recent of which occurred in mid-September.

Fund Performance

Consistent with our bottom-up approach, the majority of the fund’s outperformance stemmed from individual stock selection rather than sector allocation. Still, the fund’s return gained a modest benefit from its overweight in the health care sector, which comfortably outperformed the broader market during the period. In terms of stock selection, we delivered the largest margin of outperformance in the consumer discretionary and consumer staples sectors, while we underperformed within information technology and energy.

Two of the leading contributors to the fund’s performance in consumer staples were the food company Hillshire Brands Co.* and the spirits producer Beam, Inc.,* which were both acquired for a premium during the first half of the year. In addition, the portfolio holding Allergan, Inc., a health care stock, was targeted for an acquisition by a rival. While we don’t invest with the specific goal of finding takeover candidates, we believe our focus on companies with strong organic growth trends naturally leads us to stocks that make compelling acquisition targets.

* Not held in the portfolio as of September 30, 2014.

Allergan was just one of several holdings in the health care sector that delivered outperformance during the past year. We also generated strong returns through our position in the pharmaceutical and medical-supply distribution company McKesson Corp., which benefitted from an uptick in volume and higher prices for generic drugs, and the biotechnology stocks Gilead Sciences, Inc. and Medivation, Inc. Our investments in health care have targeted companies with robust underlying fundamentals and exciting product stories, an approach that has paid off in the past 12 months.

Other notable contributors to the fund’s outperformance included Ameriprise Financial, Inc., the rail operator Norfolk Southern Corp., and the semiconductor company Avago Technologies Ltd. Our positions in Expedia, Inc. and Starwood Hotels & Resorts Worldwide, Inc. were also standout performers within the consumer discretionary sector.

Whole Foods Market, Inc. was the largest individual detractor from performance. We have found numerous opportunities in the "healthy living" theme, which seeks to capitalize on Americans’ efforts to eat better and exercise more. Whole Foods, while well-positioned to capitalize on this theme, nonetheless saw its shares decline due to rising competition in the organic-foods space. Seeing this as an important shift in our investment case for the stock, we elected to sell the position. Dick’s Sporting Goods, Inc., our second-largest detractor, was hit by weakness in its golf business. NPS Pharmaceuticals, Inc., Alcatel-Lucent SA* and the security software company Splunk, Inc.* were also notable detractors from performance.

* Not held in the portfolio as of September 30, 2014.

Outlook and Positioning

We continued to emphasize sectors where we are finding the largest representation of companies positioned to benefit from positive product stories and longer-term, secular growth themes. We found many such opportunities among companies in the health care, domestic energy, consumer discretionary and technology sectors. In technology, for instance, a number of our holdings reflect longer-term growth themes such as data storage, data security and virtualization — all of which we believe will gain an increasing share of enterprise spending as corporations seek to streamline their technology budgets. In health care, we found the most compelling opportunities in biotechnology companies with robust product cycles, while our emphasis in energy has been on companies that we believe are in the best position to benefit from the domestic shale-drilling boom. At the same time, we maintained underweights in slower-growth sectors — including consumer staples, utilities and telecommunications — where we found valuations to be less compelling.

We maintain a cautiously optimistic outlook for domestic equities. While the U.S. economic recovery is now several years old, the heavy influence of Fed policy has helped make this a more elongated cycle than would typically be the case. As a result, we aren’t yet seeing any signs that the economy has hit a peak in key indicators such as wages, employment, capacity utilization or inflation. We therefore believe recent fears are exaggerated, and that the economic recovery in the United States still has further to run.

"We continue to focus on identifying individual stocks with the most compelling secular growth stories."

We believe the stock market is fairly valued, which indicates that earnings growth — and not a continued expansion of valuations — is likely to become the primary driver of market performance. Still, we see the earnings picture as being favorable enough that this scenario should be supportive for the stock market. The second-quarter earnings season was very positive, with top-line growth coming in ahead of expectations and a favorable ratio of positive surprises to disappointments. We believe the revenue picture also should remain favorable in the coming quarters given the overall health of the economy. Since companies have cut costs aggressively in the post crisis era, the resulting gains in revenue could flow straight to bottom-line earnings.

Although geopolitical issues could continue to drive near-term uncertainty, we believe that current fundamentals and valuations remain supportive for longer-term stock-market performance. With this as the backdrop, we continue to focus on identifying individual stocks with the most compelling secular growth stories.

Ten Largest Equity Holdings at September 30, 2014 (22.4% of Net Assets)
1. Apple, Inc. Designs, manufactures and markets personal computers and related computing and mobile communication devices	3.0%
2. Citigroup, Inc. Diversified financial services holding company	2.7%
3. Google, Inc. Provides a Web-based search engine for the Internet	2.7%
4. Chevron Corp. Operator of petroleum exploration, delivery and refining facilities	2.2%
5. Discover Financial Services Credit card issuer and electronics payment services company	2.1%
6. NIKE, Inc. Designs, develops and markets athletic footwear, apparel, equipment and accessory products	2.1%
7. JPMorgan Chase & Co. Provider of global financial services	2.0%
8. Thermo Fisher Scientific, Inc. Manufacturer of measurement instruments that monitor, collect and analyze information for various industries	1.9%
9. Prudential Financial, Inc. Provider of financial services	1.9%
10. Celgene Corp. A global biopharmaceutical company	1.8%
Portfolio holdings and characteristics are subject to change. For more complete details about the fund's investment portfolio, see page 12. A quarterly Fact Sheet is available on deutschefunds.com or upon request. Please see the Account Management Resources section on page 54 for contact information.

Portfolio Management Team

Owen Fitzpatrick, CFA, Managing Director

Lead Portfolio Manager of the fund. Began managing the fund in 2013.

— Joined Deutsche Asset & Wealth Management in 1995.

— Prior to his current role as Head of US Equity, he was Managing Director of Deutsche Bank Private Wealth Management, head of US Equity Strategy, manager of the US large cap core, value and growth portfolios, member of the US Investment Committee and head of the Equity Strategy Group.

— Previous experience includes over 21 years of experience in trust and investment management. Prior to joining Deutsche Bank in 1995, managed an equity income fund, trust and advisory relationships for Princeton Bank & Trust Company, where he was also responsible for research coverage of the consumer cyclical sector. Previously served as a portfolio manager at Manufacturer's Hanover Trust Company.

— BA and MBA, Fordham University.

Thomas M. Hynes, Jr., CFA, Director

Portfolio Manager of the fund. Began managing the fund in 2013.

— Joined Deutsche Asset & Wealth Management in 1995, served in DB Private Wealth Management from 1995–2004; served as US equity portfolio manager at Citigroup Asset Management from 2004–2007; rejoined Deutsche Asset & Wealth Management in 2007.

— Portfolio Manager for US Large Cap Equity: New York.

— BS, Fordham University.

Brendan O'Neill, CFA, Director

Portfolio Manager of the fund. Began managing the fund in 2013.

— Joined Deutsche Asset & Wealth Management in 2000.

— Equity Research Analyst covering the financial services sector from 2001–2009.

— Previously served as a member of the Large Cap Core Equity team.

— BA, Queens College, CUNY; MS, Zicklin School of Business, Baruch College.

Pankaj Bhatnagar, PhD, Managing Director

Portfolio Manager of the fund. Began managing the fund in 2013.

— Joined Deutsche Asset & Wealth Management in 2000 with seven years of industry experience; previously, served in Quantitative Strategy roles at Nomura Securities, Credit Suisse and Salomon Brothers.

— Portfolio Manager for the Quantitative Group: New York.

— Degree in Civil Engineering, Indian Institute of Technology; MBA, Kent State University; PhD in Finance, University of North Carolina at Chapel Hill.

The views expressed reflect those of the portfolio management team only through the end of the period of the report as stated on the cover. The management team's views are subject to change at any time based on market and other conditions and should not be construed as a recommendation. Past performance is no guarantee of future results. Current and future portfolio holdings are subject to risk.

Terms to Know

The Russell 1000 Index is an unmanaged index that measures the performance of the 1,000 largest companies in the Russell 3000® Index, which represents approximately 92% of the total market capitalization of the Russell 3000 Index. Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.

Large-blend funds are fairly representative of the overall U.S. stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large caps. The category returned 16.84%, 14.10% and 7.51% for the 1-, 5- and 10-year periods as of 9/30/14.

Overweight means a fund holds a higher weighting in a given sector or security compared with its benchmark index. Underweight means a fund holds a lower weighting in a given sector or security.

Contribution incorporates both a stock’s total return and its weighting in the fund.

Performance Summary September 30, 2014 (Unaudited)

Class A	1-Year	5-Year	10-Year
Average Annual Total Returns as of 9/30/14
Unadjusted for Sales Charge	19.18%	15.08%	7.44%
Adjusted for the Maximum Sales Charge (max 5.75% load)	12.33%	13.73%	6.81%
Russell 1000® Index†	19.01%	15.90%	8.46%
Class B	1-Year	5-Year	10-Year
Average Annual Total Returns as of 9/30/14
Unadjusted for Sales Charge	18.14%	14.04%	6.45%
Adjusted for the Maximum Sales Charge (max 4.00% CDSC)	15.14%	13.92%	6.45%
Russell 1000® Index†	19.01%	15.90%	8.46%
Class C	1-Year	5-Year	10-Year
Average Annual Total Returns as of 9/30/14
Unadjusted for Sales Charge	18.22%	14.22%	6.61%
Adjusted for the Maximum Sales Charge (max 1.00% CDSC)	18.22%	14.22%	6.61%
Russell 1000® Index†	19.01%	15.90%	8.46%
Class R	1-Year	5-Year	10-Year
Average Annual Total Returns as of 9/30/14
No Sales Charges	18.50%	14.61%	7.09%
Russell 1000® Index†	19.01%	15.90%	8.46%
Class S	1-Year	5-Year	10-Year
Average Annual Total Returns as of 9/30/14
No Sales Charges	19.48%	15.47%	7.81%
Russell 1000® Index†	19.01%	15.90%	8.46%
Institutional Class	1-Year	5-Year	10-Year
Average Annual Total Returns as of 9/30/14
No Sales Charges	19.58%	15.59%	7.94%
Russell 1000® Index†	19.01%	15.90%	8.46%

Performance in the Average Annual Total Returns table above and the Growth of an Assumed $10,000 Investment line graph that follows is historical and does not guarantee future results. Investment return and principal fluctuate, so your shares may be worth more or less when redeemed. Current performance may differ from performance data shown. Please visit deutschefunds.com for the Fund's most recent month-end performance. Fund performance includes reinvestment of all distributions. Unadjusted returns do not reflect sales charges and would have been lower if they had.

The gross expense ratios of the Fund, as stated in the fee table of the prospectus dated February 1, 2014 are 0.91%, 1.79%, 1.69%, 4.82%, 0.61% and 0.55% for Class A, Class B, Class C, Class R, Class S and Institutional Class shares, respectively, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report.

Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.

Performance figures do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Returns shown for Class R shares for the period prior to its inception on May 1, 2012 are derived from the historical performance of Class A shares of the Deutsche Core Equity Fund during such periods and have been adjusted to reflect the higher total annual operating expenses. Any difference in expenses will affect performance.

Growth of an Assumed $10,000 Investment (Adjusted for Maximum Sales Charge)

Yearly periods ended September 30

The Fund's growth of an assumed $10,000 investment is adjusted for the maximum sales charge of 5.75%. This results in a net initial investment of $9,425.

The growth of $10,000 is cumulative.

Performance of other share classes will vary based on the sales charges and the fee structure of those classes.

† The Russell 1000 Index is an unmanaged index that measures the performance of the 1,000 largest companies in the Russell 3000 Index, which represents approximately 92% of the total market capitalization of the Russell 3000 Index.

	Class A		Class B		Class C		Class R		Class S		Institutional Class
Net Asset Value
9/30/14	$	24.56	$	23.56	$	23.80	$	24.76	$	24.76	$	24.80
9/30/13	$	22.12	$	21.36	$	21.55	$	22.31	$	22.30	$	22.33
Distribution Information as of 9/30/14
Income Dividends, Twelve Months	$	.11	$	—	$	—	$	—	$	.19	$	.20
Capital Gain Distributions, Twelve Months	$	1.52	$	1.52	$	1.52	$	1.52	$	1.52	$	1.52

Investment Portfolio as of September 30, 2014

	Shares		Value ($)
Common Stocks 98.8%
Consumer Discretionary 13.0%
Auto Components 1.0%
BorgWarner, Inc.		597,780		31,449,206
Hotels, Restaurants & Leisure 1.4%
Las Vegas Sands Corp. (a)		253,984		15,800,345
Starwood Hotels & Resorts Worldwide, Inc.		378,359		31,483,252
				47,283,597
Internet & Catalog Retail 1.6%
Amazon.com, Inc.*		103,823		33,476,688
Expedia, Inc. (a)		203,202		17,804,559
				51,281,247
Media 1.7%
Twenty-First Century Fox, Inc. "A"		773,605		26,526,915
Walt Disney Co.		306,992		27,331,498
				53,858,413
Multiline Retail 0.7%
Macy's, Inc. (a)		399,289		23,230,634
Specialty Retail 3.7%
Dick's Sporting Goods, Inc.		555,941		24,394,691
Home Depot, Inc.		578,108		53,035,628
L Brands, Inc. (a)		665,324		44,563,402
				121,993,721
Textiles, Apparel & Luxury Goods 2.9%
NIKE, Inc. "B"		763,292		68,085,646
VF Corp.		410,356		27,095,807
				95,181,453
Consumer Staples 8.9%
Beverages 1.4%
PepsiCo, Inc.		502,890		46,814,030
Food & Staples Retailing 2.5%
Costco Wholesale Corp.		297,381		37,267,787
Kroger Co.		430,762		22,399,624
Whole Foods Market, Inc. (a)		548,483		20,902,687
				80,570,098
Food Products 3.1%
ConAgra Foods, Inc.		738,145		24,388,311
Mead Johnson Nutrition Co.		441,358		42,467,466
The WhiteWave Foods Co.*		917,548		33,334,519
				100,190,296
Household Products 0.8%
Procter & Gamble Co.		299,725		25,098,972
Personal Products 1.1%
Estee Lauder Companies, Inc. "A" (a)		473,383		35,371,178
Energy 9.6%
Energy Equipment & Services 2.5%
Halliburton Co.		915,046		59,029,618
Schlumberger Ltd.		229,783		23,366,633
				82,396,251
Oil, Gas & Consumable Fuels 7.1%
Anadarko Petroleum Corp.		481,708		48,864,459
Antero Resources Corp.* (a)		279,654		15,350,208
Chevron Corp.		606,429		72,359,108
EOG Resources, Inc.		393,478		38,962,192
Occidental Petroleum Corp.		250,436		24,079,421
Pioneer Natural Resources Co.		151,409		29,823,031
				229,438,419
Financials 15.8%
Banks 6.2%
Citigroup, Inc.		1,690,123		87,582,174
JPMorgan Chase & Co.		1,076,785		64,865,528
Regions Financial Corp.		4,905,515		49,251,371
				201,699,073
Capital Markets 3.8%
Affiliated Managers Group, Inc.*		274,719		55,042,699
Ameriprise Financial, Inc.		286,008		35,287,667
Charles Schwab Corp. (a)		1,163,254		34,188,035
				124,518,401
Consumer Finance 2.1%
Discover Financial Services		1,070,579		68,934,582
Diversified Financial Services 0.6%
Intercontinental Exchange, Inc. (a)		103,506		20,188,845
Insurance 1.9%
Prudential Financial, Inc.		694,676		61,089,807
Real Estate Investment Trusts 1.2%
Extra Space Storage, Inc. (REIT)		731,631		37,730,211
Health Care 15.5%
Biotechnology 4.9%
Celgene Corp.*		623,310		59,077,322
Gilead Sciences, Inc.* (a)		442,563		47,110,831
Medivation, Inc.*		285,036		28,181,509
NPS Pharmaceuticals, Inc.* (a)		961,009		24,986,234
				159,355,896
Health Care Equipment & Supplies 1.1%
CareFusion Corp.*		816,484		36,945,901
Health Care Providers & Services 2.3%
Express Scripts Holding Co.*		630,186		44,510,037
McKesson Corp.		155,728		30,315,570
				74,825,607
Life Sciences Tools & Services 1.9%
Thermo Fisher Scientific, Inc.		504,814		61,435,864
Pharmaceuticals 5.3%
Allergan, Inc.		211,963		37,769,687
Bristol-Myers Squibb Co.		294,706		15,083,053
Merck & Co., Inc.		982,187		58,224,046
Pfizer, Inc.		1,457,718		43,104,721
Shire PLC (ADR)		66,778		17,298,841
				171,480,348
Industrials 10.6%
Aerospace & Defense 2.2%
Boeing Co.		353,245		44,996,348
TransDigm Group, Inc.		151,465		27,919,543
				72,915,891
Electrical Equipment 1.9%
AMETEK, Inc.		907,835		45,582,396
Regal-Beloit Corp.		231,997		14,905,807
				60,488,203
Industrial Conglomerates 3.0%
General Electric Co.		2,097,593		53,740,333
Roper Industries, Inc.		299,687		43,841,211
				97,581,544
Machinery 2.0%
Parker-Hannifin Corp.		298,787		34,106,536
SPX Corp.		326,966		30,711,916
				64,818,452
Road & Rail 1.5%
Norfolk Southern Corp.		445,268		49,691,909
Information Technology 19.3%
Communications Equipment 1.2%
CommScope Holding Co., Inc.*		771,081		18,436,547
Palo Alto Networks, Inc.*		126,328		12,392,777
QUALCOMM, Inc.		118,842		8,885,816
				39,715,140
Internet Software & Services 4.1%
Alibaba Group Holding Ltd. (ADR)*		49,905		4,434,059
Facebook, Inc. "A"*		529,313		41,836,900
Google, Inc. "A"*		74,715		43,963,053
Google, Inc. "C"*		74,580		43,059,509
				133,293,521
IT Services 2.0%
Cognizant Technology Solutions Corp. "A"*		351,421		15,733,118
Visa, Inc. "A" (a)		226,043		48,230,795
				63,963,913
Semiconductors & Semiconductor Equipment 2.6%
Avago Technologies Ltd.		222,200		19,331,400
Intel Corp.		1,297,168		45,167,390
NXP Semiconductor NV*		300,886		20,589,629
				85,088,419
Software 5.5%
Intuit, Inc.		258,621		22,668,131
Microsoft Corp.		1,060,346		49,157,640
Oracle Corp.		1,028,145		39,357,391
Salesforce.com, Inc.* (a)		250,930		14,436,003
Solera Holdings, Inc.		318,996		17,978,614
VMware, Inc. "A"* (a)		397,393		37,291,359
				180,889,138
Technology Hardware, Storage & Peripherals 3.9%
Apple, Inc.		981,660		98,902,245
Western Digital Corp.		276,798		26,937,981
				125,840,226
Materials 4.2%
Chemicals 3.2%
Dow Chemical Co.		412,753		21,644,767
Ecolab, Inc.		443,494		50,926,416
LyondellBasell Industries NV "A"		285,687		31,042,750
				103,613,933
Containers & Packaging 1.0%
Sealed Air Corp. (a)		904,745		31,557,505
Telecommunication Services 0.4%
Wireless Telecommunication Services
T-Mobile U.S., Inc.*		473,643		13,674,074
Utilities 1.5%
Electric Utilities 0.5%
NextEra Energy, Inc. (a)		166,564		15,637,029
Water Utilities 1.0%
American Water Works Co., Inc.		649,683		31,334,210
Total Common Stocks (Cost $2,622,164,906)				3,212,465,157

	Principal Amount ($)		Value ($)
Convertible Bonds 0.3%
Health Care 0.1%
Cepheid, Inc., 144A, 1.25%, 2/1/2021		2,653,000		2,611,547
Information Technology 0.2%
Twitter, Inc., 144A, 0.25%, 9/15/2019		8,033,000		7,832,175
Total Convertible Bonds (Cost $10,686,000)				10,443,722

	Shares		Value ($)
Securities Lending Collateral 9.9%
Daily Assets Fund Institutional, 0.08% (b) (c) (Cost $321,607,191)		321,607,191		321,607,191
Cash Equivalents 0.8%
Central Cash Management Fund, 0.05% (b) (Cost $26,006,514)		26,006,514		26,006,514

	% of Net Assets			Value ($)
Total Investment Portfolio (Cost $2,980,464,611)†		109.8			3,570,522,584
Other Assets and Liabilities, Net		(9.8	)		(317,613,265	)
Net Assets		100.0			3,252,909,319

* Non-income producing security.

† The cost for federal income tax purposes was $2,981,759,802. At September 30, 2014, net unrealized appreciation for all securities based on tax cost was $588,762,782. This consisted of aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost of $620,999,239 and aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value of $32,236,457.

(a) All or a portion of these securities were on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The value of securities loaned at September 30, 2014 amounted to $314,346,794, which is 9.7% of net assets.

(b) Affiliated fund managed by Deutsche Investment Management Americas Inc. The rate shown is the annualized seven-day yield at period end.

(c) Represents collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates.

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.

ADR: American Depositary Receipt

REIT: Real Estate Investment Trust

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 September 30, 2014 in valuing the Fund's investments. For information on the Fund's policy regarding the valuation of investments, please refer to the Security Valuation section of Note A in the accompanying Notes to Financial Statements.

Assets	Level 1		Level 2		Level 3		Total
Common Stocks (d)	$	3,212,465,157	$	—	$	—	$	3,212,465,157
Convertible Bonds (d)		—		10,443,722		—		10,443,722
Short-Term Investments (d)		347,613,705		—		—		347,613,705
Total	$	3,560,078,862	$	10,443,722	$	—	$	3,570,522,584

There have been no transfers between fair value measurement levels during the year ended September 30, 2014.

(d) See Investment Portfolio for additional detailed categorizations.

The accompanying notes are an integral part of the financial statements.

Statement of Assets and Liabilities

as of September 30, 2014
Assets
Investments: Investments in non-affiliated securities, at value (cost $2,632,850,906) — including $314,346,794 of securities loaned	$	3,222,908,879
Investment in Daily Assets Fund Institutional (cost $321,607,191)*		321,607,191
Investment in Central Cash Management Fund (cost $26,006,514)		26,006,514
Total investments in securities, at value (cost $2,980,464,611)		3,570,522,584
Receivable for investments sold		31,428,938
Receivable for Fund shares sold		184,834
Dividends receivable		2,367,694
Interest receivable		18,364
Other assets		40,036
Total assets		3,604,562,450
Liabilities
Payable upon return of securities loaned		321,607,191
Payable for investments purchased		25,540,329
Payable for Fund shares redeemed		2,065,727
Accrued management fee		962,246
Accrued Trustees' fees		16,005
Other accrued expenses and payables		1,461,633
Total liabilities		351,653,131
Net assets, at value	$	3,252,909,319
Net Assets Consist of
Undistributed net investment income		1,631,273
Net unrealized appreciation (depreciation) on investments		590,057,973
Accumulated net realized gain (loss)		178,469,057
Paid-in capital		2,482,751,016
Net assets, at value	$	3,252,909,319

* Represents collateral on securities loaned.

The accompanying notes are an integral part of the financial statements.

Statement of Assets and Liabilities as of September 30, 2014 (continued)
Net Asset Value
Class A Net Asset Value and redemption price per share ($325,867,398 ÷ 13,268,357 outstanding shares of beneficial interest, $.01 par value, unlimited number of shares authorized)	$	24.56
Maximum offering price per share (100 ÷ 94.25 of $24.56)	$	26.06
Class B Net Asset Value, offering and redemption price (subject to contingent deferred sales charge) per share ($2,177,139 ÷ 92,423 outstanding shares of beneficial interest, $.01 par value, unlimited number of shares authorized)	$	23.56
Class C Net Asset Value, offering and redemption price (subject to contingent deferred sales charge) per share ($28,190,280 ÷ 1,184,318 outstanding shares of beneficial interest, $.01 par value, unlimited number of shares authorized)	$	23.80
Class R Net Asset Value, offering and redemption priceper share ($1,488.52 ÷ 60.11 outstanding shares of beneficial interest, $.01 par value, unlimited number of shares authorized)	$	24.76
Class R6 Net Asset Value, offering and redemption priceper share ($9,894 ÷ 398.92 outstanding shares of beneficial interest, $.01 par value, unlimited number of shares authorized)	$	24.80
Class S Net Asset Value, offering and redemption priceper share ($2,816,547,966 ÷ 113,747,739 outstanding shares of beneficial interest, $.01 par value, unlimited number of shares authorized)	$	24.76
Institutional Class Net Asset Value, offering and redemption priceper share ($80,115,153 ÷ 3,230,025 outstanding shares of beneficial interest, $.01 par value, unlimited number of shares authorized)	$	24.80

The accompanying notes are an integral part of the financial statements.

Statement of Operations

for the year ended September 30, 2014
Investment Income
Income: Dividends	$	41,674,433
Interest		22,100
Income distributions — Central Cash Management Fund		11,436
Securities lending income, including income from Daily Assets Fund Institutional, net of borrower rebates		113,689
Total income		41,821,658
Expenses: Management fee		11,329,804
Administration fee		3,193,422
Services to shareholders		3,805,697
Distribution and service fees		1,065,944
Custodian fee		128,187
Professional fees		156,408
Reports to shareholders		165,821
Registration fees		93,527
Trustees' fees and expenses		130,355
Other		91,334
Total expenses before expense reductions		20,160,499
Expense reductions		(13	)
Total expenses after expense reductions		20,160,486
Net investment income (loss)		21,661,172
Realized and Unrealized Gain (Loss)
Net realized gain (loss) from investments		182,234,514
Change in net unrealized appreciation (depreciation) on investments		356,795,291
Net gain (loss)		539,029,805
Net increase (decrease) in net assets resulting from operations	$	560,690,977

The accompanying notes are an integral part of the financial statements.

Statement of Changes in Net Assets

	Years Ended September 30,
Increase (Decrease) in Net Assets	2014			2013
Operations: Net investment income (loss)	$	21,661,172		$	52,294,709
Net realized gain (loss)		182,234,514			544,250,481
Change in net unrealized appreciation (depreciation)		356,795,291			90,981,020
Net increase (decrease) in net assets resulting from operations		560,690,977			687,526,210
Distributions to shareholders from: Net investment income: Class A		(1,510,859	)		(4,414,426	)
Class B		—			(32,823	)
Class C		—			(173,465	)
Class R		—			(10	)
Class R6		(23	)		—
Class S		(21,399,458	)		(45,038,947	)
Institutional Class		(732,833	)		(4,016,810	)
Net realized gains: Class A		(20,044,596	)		—
Class B		(226,992	)		—
Class C		(1,809,054	)		—
Class R		(85	)		—
Class S		(171,558,816	)		—
Institutional Class		(5,931,898	)		—
Total distributions		(223,214,614	)		(53,676,481	)
Fund share transactions: Proceeds from shares sold		139,159,057			175,554,679
Reinvestment of distributions		207,203,171			49,618,629
Payments for shares redeemed		(396,258,186	)		(689,513,336	)
Net increase (decrease) in net assets from Fund share transactions		(49,895,958	)		(464,340,028	)
Increase (decrease) in net assets		287,580,405			169,509,701
Net assets at beginning of period		2,965,328,914			2,795,819,213
Net assets at end of period (including undistributed net investment income of $1,631,273 and $2,689,401, respectively)	$	3,252,909,319		$	2,965,328,914

The accompanying notes are an integral part of the financial statements.

Financial Highlights

	Years Ended September 30,
Class A		2014			2013			2012			2011			2010
Selected Per Share Data
Net asset value, beginning of period	$	22.12		$	17.87		$	14.43		$	14.68		$	13.65
Income (loss) from investment operations: Net investment income (loss)a		.10			.30			.17			.14			.15
Net realized and unrealized gain (loss)		3.97			4.27			3.45			(.29	)		1.03
Total from investment operations		4.07			4.57			3.62			(.15	)		1.18
Less distributions from: Net investment income		(.11	)		(.32	)		(.18	)		(.10	)		(.15	)
Net realized gains		(1.52	)		—			—			—			—
Total distributions		(1.63	)		(.32	)		(.18	)		(.10	)		(.15	)
Net asset value, end of period	$	24.56		$	22.12		$	17.87		$	14.43		$	14.68
Total Return (%)b		19.18			25.81			25.18			(1.06	)		8.68
Ratios to Average Net Assets and Supplemental Data
Net assets, end of period ($ millions)		326			299			262			39			44
Ratio of expenses (%)		.89			.91			.93			.98			1.04
Ratio of net investment income (loss) (%)		.42			1.52			1.02			.84			1.06
Portfolio turnover rate (%)		44			282			302			191			137
a Based on average shares outstanding during the period. b Total return does not reflect the effect of any sales charges.

	Years Ended September 30,
Class B		2014			2013			2012			2011			2010
Selected Per Share Data
Net asset value, beginning of period	$	21.36		$	17.25		$	13.94		$	14.22		$	13.23
Income (loss) from investment operations: Net investment income (loss)a		(.11	)		.13			.02			(.00	)*		.00	*
Net realized and unrealized gain (loss)		3.83			4.11			3.33			(.28	)		1.00
Total from investment operations		3.72			4.24			3.35			(.28	)		1.00
Less distributions from: Net investment income		—			(.13	)		(.04	)		—			(.01	)
Net realized gains		(1.52	)		—			—			—			—
Total distributions		(1.52	)		(.13	)		(.04	)		—			(.01	)
Net asset value, end of period	$	23.56		$	21.36		$	17.25		$	13.94		$	14.22
Total Return (%)b		18.14			24.72			24.08			(1.97	)		7.60	c
Ratios to Average Net Assets and Supplemental Data
Net assets, end of period ($ millions)		2			4			5			1			1
Ratio of expenses before expense reductions (%)		1.77			1.79			1.82			1.89			2.14
Ratio of expenses after expense reductions (%)		1.77			1.79			1.82			1.89			2.11
Ratio of net investment income (loss) (%)		(.48	)		.70			.12			(.07	)		.02
Portfolio turnover rate (%)		44			282			302			191			137
a Based on average shares outstanding during the period. b Total return does not reflect the effect of any sales charges. c Total return would have been lower had certain expenses not been reduced. * Amount is less than $.005.

	Years Ended September 30,
Class C		2014			2013			2012			2011			2010
Selected Per Share Data
Net asset value, beginning of period	$	21.55		$	17.40		$	14.06		$	14.32		$	13.31
Income (loss) from investment operations: Net investment income (loss)a		(.08	)		.14			.04			.03			.05
Net realized and unrealized gain (loss)		3.85			4.16			3.36			(.28	)		1.00
Total from investment operations		3.77			4.30			3.40			(.25	)		1.05
Less distributions from: Net investment income		—			(.15	)		(.06	)		(.01	)		(.04	)
Net realized gains		(1.52	)		—			—			—			—
Total distributions		(1.52	)		(.15	)		(.06	)		(.01	)		(.04	)
Net asset value, end of period	$	23.80		$	21.55		$	17.40		$	14.06		$	14.32
Total Return (%)b		18.22			24.90			24.21			(1.77	)		7.90
Ratios to Average Net Assets and Supplemental Data
Net assets, end of period ($ millions)		28			25			21			4			4
Ratio of expenses (%)		1.66			1.69			1.70			1.71			1.81
Ratio of net investment income (loss) (%)		(.35	)		.73			.26			.11			.29
Portfolio turnover rate (%)		44			282			302			191			137
a Based on average shares outstanding during the period. b Total return does not reflect the effect of any sales charges.

	Years Ended September 30,
Class R	2014			2013			Period Ended 9/30/12a
Selected Per Share Data
Net asset value, beginning of period	$	22.31		$	18.02		$	17.94
Income (loss) from investment operations: Net investment income (loss)b		(.03	)		.16			.04
Net realized and unrealized gain (loss)		4.00			4.30			.06
Total from investment operations		3.97			4.46			.10
Less distributions from: Net investment income		—			(.17	)		(.02	)
Net realized gains		(1.52	)		—			—
Total distributions		(1.52	)		(.17	)		(.02	)
Net asset value, end of period	$	24.76		$	22.31		$	18.02
Total Return (%)c		18.50			24.94			.53	**
Ratios to Average Net Assets and Supplemental Data
Net assets, end of period ($ thousands)		1			1			1
Ratio of expenses before expense reductions (%)		2.41			4.82			3.29	*
Ratio of expenses after expense reductions (%)		1.45			1.63			1.63	*
Ratio of net investment income (loss) (%)		(.11	)		.81			.52	*
Portfolio turnover rate (%)		44			282			302
a For the period from May 1, 2012 (commencement of operations) to September 30, 2012. b Based on average shares outstanding during the period. c Total return would have been lower had certain expenses not been reduced. * Annualized ** Not annualized

Class R6	Period Ended 9/30/14a
Selected Per Share Data
Net asset value, beginning of period	$	25.15
Income (loss) from investment operations: Net investment income (loss)b		.03
Net realized and unrealized gain (loss)		(.32	)
Total from investment operations		(.29	)
Less distributions from: Net investment income		(.06	)
Net asset value, end of period	$	24.80
Total Return (%)		(1.16	)**
Ratios to Average Net Assets and Supplemental Data
Net assets, end of period ($ thousands)		10
Ratio of expenses		.48	*
Ratio of net investment income (loss) (%)		1.11	*
Portfolio turnover rate (%)		44	c
a For the period from August 25, 2014 (commencement of operations) to September 30, 2014. b Based on average shares outstanding during the period. c Represents the Fund's portfolio turnover rate for the year ended September 30, 2014. * Annualized ** Not annualized

	Years Ended September 30,
Class S		2014			2013			2012			2011			2010
Selected Per Share Data
Net asset value, beginning of period	$	22.30		$	18.01		$	14.54		$	14.79		$	13.75
Income (loss) from investment operations: Net investment income (loss)a		.17			.37			.23			.20			.21
Net realized and unrealized gain (loss)		4.00			4.30			3.47			(.28	)		1.04
Total from investment operations		4.17			4.67			3.70			(.08	)		1.25
Less distributions from: Net investment income		(.19	)		(.38	)		(.23	)		(.17	)		(.21	)
Net realized gains		(1.52	)		—			—			—			—
Total distributions		(1.71	)		(.38	)		(.23	)		(.17	)		(.21	)
Net asset value, end of period	$	24.76		$	22.30		$	18.01		$	14.54		$	14.79
Total Return (%)		19.48			26.20			25.61			(.68	)		9.13
Ratios to Average Net Assets and Supplemental Data
Net assets, end of period ($ millions)		2,817			2,564			2,260			2,358			2,217
Ratio of expenses (%)		.59			.61			.64			.64			.66
Ratio of net investment income (loss) (%)		.72			1.82			1.34			1.18			1.44
Portfolio turnover rate (%)		44			282			302			191			137
a Based on average shares outstanding during the period.

	Years Ended September 30,
Institutional Class		2014			2013			2012			2011			2010
Selected Per Share Data
Net asset value, beginning of period	$	22.33		$	18.03		$	14.56		$	14.82		$	13.78
Income (loss) from investment operations: Net investment income (loss)a		.19			.39			.24			.21			.23
Net realized and unrealized gain (loss)		4.00			4.31			3.48			(.28	)		1.05
Total from investment operations		4.19			4.70			3.72			(.07	)		1.28
Less distributions from: Net investment income		(.20	)		(.40	)		(.25	)		(.19	)		(.24	)
Net realized gains		(1.52	)		—			—			—			—
Total distributions		(1.72	)		(.40	)		(.25	)		(.19	)		(.24	)
Net asset value, end of period	$	24.80		$	22.33		$	18.03		$	14.56		$	14.82
Total Return (%)		19.58			26.34	b		25.70	b		(.60	)		9.30
Ratios to Average Net Assets and Supplemental Data
Net assets, end of period ($ millions)		80			74			248			32			36
Ratio of expenses before expense reductions (%)		.53			.55			.55			.53			.50
Ratio of expenses after expense reductions (%)		.53			.54			.54			.53			.50
Ratio of net investment income (loss) (%)		.79			1.99			1.40			1.29			1.60
Portfolio turnover rate (%)		44			282			302			191			137
a Based on average shares outstanding during the period. b Total return would have been lower had certain expenses not been reduced.

Notes to Financial Statements

A. Organization and Significant Accounting Policies

Deutsche Core Equity Fund (formerly DWS Core Equity Fund) (the "Fund") is a diversified series of Deutsche Investment Trust (formerly DWS Investment Trust) (the "Trust"), which is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company organized as a Massachusetts business trust.

The Fund offers multiple classes of shares which provide investors with different purchase options. Class A shares are offered to investors subject to an initial sales charge. Class B shares of the Fund are closed to new purchases, except exchanges or the reinvestment of dividends or other distributions. Class B shares were offered to investors without an initial sales charge and are subject to higher ongoing expenses than Class A shares and a contingent deferred sales charge payable upon certain redemptions. Class B shares automatically convert to Class A shares six years after issuance. Class C shares are offered to investors without an initial sales charge but are subject to higher ongoing expenses than Class A shares and a contingent deferred sales charge payable upon certain redemptions within one year of purchase. Class C shares do not automatically convert into another class. Institutional Class shares are generally available only to qualified institutions, are not subject to initial or contingent deferred sales charges and generally have lower ongoing expenses than other classes. Class R shares are only available to participants in certain retirement plans and are offered to investors without an initial sales charge. Class S shares are not subject to initial or contingent deferred sales charges and are only available to a limited group of investors. Class R6 shares commenced operations on August 25, 2014. Class R6 shares are not subject to initial or contingent deferred sales charges and are generally available only to certain retirement plans.

Investment income, realized and unrealized gains and losses, and certain fund-level expenses and expense reductions, if any, are borne pro rata on the basis of relative net assets by the holders of all classes of shares, except that each class bears certain expenses unique to that class such as distribution and service fees, services to shareholders and certain other class-specific expenses. Differences in class-level expenses may result in payment of different per share dividends by class. All shares of the Fund have equal rights with respect to voting subject to class-specific arrangements.

The Fund's financial statements are prepared in accordance with accounting principles generally accepted in the United States of America which require the use of management estimates. Actual results could differ from those estimates. The policies described below are followed consistently by the Fund in the preparation of its financial statements.

Security Valuation. Investments are stated at value determined as of the close of regular trading on the New York Stock Exchange on each day the exchange is open for trading.

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.

Equity securities are valued at the most recent sale price or official closing price reported on the exchange (U.S. or foreign) or over-the-counter market on which they trade. Securities for which no sales are reported are valued at the calculated mean between the most recent bid and asked quotations on the relevant market or, if a mean cannot be determined, at the most recent bid quotation. Equity securities are generally categorized as Level 1.

Debt securities are valued at prices supplied by independent pricing services approved by the Fund's Board. Such services may use various pricing techniques which take into account appropriate factors such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, prepayment speeds and other data, as well as broker quotes. If the pricing services are unable to provide valuations, debt securities are valued at the average of the most recent reliable bid quotations or evaluated prices, as applicable, obtained from broker-dealers. These securities are generally categorized as Level 2.

Investments in open-end investment companies are valued at their net asset value each business day and are categorized as Level 1.

Securities and other assets for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued in a manner that is intended to reflect their fair value as determined in accordance with procedures approved by the Board and are generally categorized as Level 3. In accordance with the Fund's valuation procedures, factors considered in determining value may include, but are not limited to, the type of the security; the size of the holding; the initial cost of the security; the existence of any contractual restrictions on the security's disposition; the price and extent of public trading in similar securities of the issuer or of comparable companies; quotations or evaluated prices from broker-dealers and/or pricing services; information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities); an analysis of the company's or issuer's financial statements; an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold; and with respect to debt securities, the maturity, coupon, creditworthiness, currency denomination, and the movement of the market in which the security is normally traded. The value determined under these procedures may differ from published values for the same securities.

Disclosure about the classification of fair value measurements is included in a table following the Fund's Investment Portfolio.

Foreign Currency Translations. The books and records of the Fund are maintained in U.S. dollars. Investment securities and other assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the prevailing exchange rates at period end. Purchases and sales of investment securities, income and expenses are translated into U.S. dollars at the prevailing exchange rates on the respective dates of the transactions.

Net realized and unrealized gains and losses on foreign currency transactions represent net gains and losses between trade and settlement dates on securities transactions, the acquisition and disposition of foreign currencies, and the difference between the amount of net investment income accrued and the U.S. dollar amount actually received. That portion of both realized and unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed but is included with net realized and unrealized gain/appreciation and loss/depreciation on investments.

Securities Lending. Brown Brothers Harriman & Co., as lending agent, lends securities of the Fund to certain financial institutions under the terms of the Security Lending Agreement. The Fund retains benefits of owning the securities it has loaned and continues to receive interest and dividends generated by the securities and to participate in any changes in their market value. The Fund requires the borrowers of the securities to maintain collateral with the Fund consisting of either cash or liquid, unencumbered assets having a value at least equal to the value of the securities loaned. When the collateral falls below specified amounts, the lending agent will use its best effort to obtain additional collateral on the next business day to meet required amounts under the security lending agreement. The Fund may invest the cash collateral into a joint trading account in an affiliated money market fund pursuant to Exemptive Orders issued by the SEC. The Fund receives compensation for lending its securities either in the form of fees or by earning interest on invested cash collateral net of borrower rebates and fees paid to a lending agent. Either the Fund or the borrower may terminate the loan. There may be risks of delay and costs in recovery of securities or even loss of rights in the collateral should the borrower of the securities fail financially. If the Fund is not able to recover securities lent, the Fund may sell the collateral and purchase a replacement investment in the market, incurring the risk that the value of the replacement security is greater than the value of the collateral. The Fund is also subject to all investment risks associated with the reinvestment of any cash collateral received, including, but not limited to, interest rate, credit and liquidity risk associated with such investments.

As of September 30, 2014, the Fund had securities on loan. The value of the related collateral exceeded the value of the securities loaned at period end.

Federal Income Taxes. The Fund's policy is to comply with the requirements of the Internal Revenue Code, as amended, which are applicable to regulated investment companies, and to distribute all of its taxable income to its shareholders.

The Fund has reviewed the tax provisions for the open tax years as of September 30, 2014 and has determined that no provision for income tax and/or uncertain tax provisions is required in the Fund's financial statements. The Fund's federal tax returns for the prior three fiscal years remain open subject to examination by the Internal Revenue Service.

Distribution of Income and Gains. Distributions from net investment income of the Fund are declared and distributed to shareholders quarterly. Net realized gains from investment transactions, in excess of available capital loss carryforwards, would be taxable to the Fund if not distributed, and, therefore, will be distributed to shareholders at least annually. The Fund may also make additional distributions for tax purposes if necessary.

The timing and characterization of certain income and capital gain distributions are determined annually in accordance with federal tax regulations which may differ from accounting principles generally accepted in the United States of America. These differences primarily relate to certain securities sold at a loss. As a result, net investment income (loss) and net realized gain (loss) on investment transactions for a reporting period may differ significantly from distributions during such period. Accordingly, the Fund may periodically make reclassifications among certain of its capital accounts without impacting the net asset value of the Fund.

At September 30, 2014, the Fund's components of distributable earnings (accumulated losses) on a tax basis were as follows:

Undistributed ordinary income*	$	106,234,163
Undistributed long-term capital gains	$	75,161,358
Net unrealized appreciation (depreciation) on investments	$	588,762,782

In addition, the tax character of distributions paid to shareholders by the Fund is summarized as follows:

	Years Ended September 30,
	2014		2013
Distributions from ordinary income*	$	115,923,238	$	53,676,481
Distributions from long-term capital gains	$	107,291,376	$	—

*For tax purposes, short-term capital gain distributions are considered ordinary income distributions.

Expenses. Expenses of the Trust arising in connection with a specific fund are allocated to that fund. Other Trust expenses which cannot be directly attributed to a fund are apportioned among the funds in the Trust based upon the relative net assets or other appropriate measures.

Contingencies. In the normal course of business, the Fund may enter into contracts with service providers that contain general indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet been made. However, based on experience, the Fund expects the risk of loss to be remote.

Other. Investment transactions are accounted for on a trade date plus one basis for daily net asset valuation calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is recorded on the accrual basis. Dividend income is recorded on the ex-dividend date net of foreign withholding taxes. Realized gains and losses from investment transactions are recorded on an identified cost basis. Proceeds from litigation payments, if any, are included in net realized gain (loss) from investments.

B. Purchases and Sales of Securities

During the year ended September 30, 2014, purchases and sales of investment securities (excluding short-term investments) aggregated $1,394,463,389 and $1,633,357,493, respectively.

C. Related Parties

Management Agreement. Under the Investment Management Agreement with Deutsche Investment Management Americas Inc. ("DIMA" or the "Advisor"), an indirect, wholly owned subsidiary of Deutsche Bank AG, the Advisor directs the investments of the Fund in accordance with its investment objectives, policies and restrictions. The Advisor determines the securities, instruments and other contracts relating to investments to be purchased, sold or entered into by the Fund, or delegates such responsibility to the Fund's subadvisor.

Under the Investment Management Agreement with the Advisor, the Fund pays a monthly management fee based on the Fund's average daily net assets computed and accrued daily and payable monthly, at the following annual rates:

First $250 million of the Fund's average daily net assets	.365	%
Next $750 million of such net assets	.360	%
Next $1.5 billion of such net assets	.355	%
Next $5.0 billion of such net assets	.345	%
Next $5.0 billion of such net assets	.335	%
Next $5.0 billion of such net assets	.325	%
Over $17.5 billion of such net assets	.300	%

Accordingly, for the year ended September 30, 2014, the fee pursuant to the Investment Management Agreement was equivalent to an annual effective rate (exclusive of any applicable waivers/reimbursements) of 0.35% of the Fund's average daily net assets.

For the period from October 1, 2013 through September 30, 2014 and for the period from August 25, 2014 (commencement of operations) through September 30, 2014 for Class R6 shares, the Advisor has contractually agreed to waive its fees and/or reimburse certain operating expenses of the Fund to the extent necessary to maintain the operating expenses (excluding certain expenses such as extraordinary expenses, taxes, brokerage, interest and indirect expenses of Underlying Funds) of each class as follows:

Class A	1.20%
Class B	1.95%
Class C	1.95%
Class R	1.45%
Class R6	1.06%
Class S	.95%
Institutional Class	.95%

Effective October 1, 2014 through September 30, 2015, the Advisor has contractually agreed to waive its fees and/or reimburse certain operating expenses of the Fund to the extent necessary to maintain the operating expenses (excluding certain expenses such as extraordinary expenses, taxes, brokerage, interest and indirect expenses of Underlying Funds) of each class as follows:

Class A	1.31%
Class B	2.06%
Class C	2.06%
Class R	1.55%
Class R6	1.06%
Class S	1.06%
Institutional Class	1.06%

For the year ended September 30, 2014, fees waived and/or expenses reimbursed for Class R were $13.

Administration Fee. Pursuant to an Administrative Services Agreement, DIMA provides most administrative services to the Fund. For all services provided under the Administrative Services Agreement, the Fund pays the Advisor an annual fee ("Administration Fee") of 0.10% of the Fund's average daily net assets, computed and accrued daily and payable monthly. For the year ended September 30, 2014, the Administration Fee was $3,193,422, of which $271,467 is unpaid.

Service Provider Fees. DeAWM Service Company ("DSC"), an affiliate of the Advisor, is the transfer agent, dividend-paying agent and shareholder service agent for the Fund. Pursuant to a sub-transfer agency agreement between DSC and DST Systems, Inc. ("DST"), DSC has delegated certain transfer agent, dividend-paying agent and shareholder service agent functions to DST. DSC compensates DST out of the shareholder servicing fee it receives from the Fund. For the year ended September 30, 2014, the amounts charged to the Fund by DSC were as follows:

Services to Shareholders	Total Aggregated		Unpaid at September 30, 2014
Class A	$	371,692	$	90,675
Class B		7,658		1,659
Class C		33,574		8,670
Class R		21		5
Class S		2,102,360		513,563
Institutional Class		16,054		3,708
	$	2,531,359	$	618,280

Distribution and Service Fees. Under the Fund's Class B, Class C and Class R 12b-1 Plans, DeAWM Distributors, Inc. ("DDI"), an affiliate of the Advisor, receives a fee ("Distribution Fee") of 0.75%, of average daily net assets of each of Class B and C shares and 0.25% of the average daily net assets of Class R shares. In accordance with the Fund's Underwriting and Distribution Services Agreement, DDI enters into related selling group agreements with various firms at various rates for sales of Class B, C and R shares, respectively. For the year ended September 30, 2014, the Distribution Fee was as follows:

Distribution Fee	Total Aggregated		Unpaid at September 30, 2014
Class B	$	22,222	$	1,410
Class C		209,882		17,620
Class R		4		0
	$	232,108	$	19,030

In addition, DDI provides information and administrative services for a fee ("Service Fee") to Class A, B, C and R shareholders at an annual rate of up to 0.25% of average daily net assets for each such class. DDI in turn has various agreements with financial services firms that provide these services and pays these fees based upon the assets of shareholder accounts the firms service. For the year ended September 30, 2014, the Service Fee was as follows:

Service Fee	Total Aggregated		Unpaid at September 30, 2014		Annual Rate
Class A	$	759,214	$	130,964		.24	%
Class B		7,172		955		.24	%
Class C		67,448		11,499		.24	%
Class R		2		1		.16	%
	$	833,836	$	143,419

Underwriting Agreement and Contingent Deferred Sales Charge. DDI is the principal underwriter for the Fund. Underwriting commissions paid in connection with the distribution of Class A shares for the year ended September 30, 2014 aggregated $24,496.

In addition, DDI receives any contingent deferred sales charge ("CDSC") from Class B share redemptions occurring within six years of purchase and Class C share redemptions occurring within one year of purchase. There is no such charge upon redemption of any share appreciation or reinvested dividends. The CDSC is based on declining rates, ranging from 4% to 1% for Class B and 1% for Class C, of the value of the shares redeemed. For the year ended September 30, 2014, the CDSC for Class B and C shares aggregated $1,961 and $7,075, respectively. A deferred sales charge of up to 1% is assessed on certain redemptions of Class A shares. For the year ended September 30, 2014, DDI received $6,414 for Class A shares.

Typesetting and Filing Service Fees. Under an agreement with DIMA, DIMA is compensated for providing typesetting and certain regulatory filing services to the Fund. For the year ended September 30, 2014, the amount charged to the Fund by DIMA included in the Statement of Operations under "Reports to shareholders" aggregated $18,316, of which $8,828 is unpaid.

Trustees' Fees and Expenses. The Fund paid retainer fees to each Trustee not affiliated with the Advisor, plus specified amounts to the Board Chairperson and Vice Chairperson and to each committee Chairperson.

Affiliated Cash Management Vehicles. The Fund may invest uninvested cash balances in Central Cash Management Fund and Deutsche Variable NAV Money Fund, affiliated money market funds which are managed by the Advisor. Each affiliated money market fund seeks to provide a high level of current income consistent with liquidity and the preservation of capital. Each affiliated money market fund is managed in accordance with Rule 2a-7 under the Investment Company Act of 1940, which governs the quality, maturity, diversity and liquidity of instruments in which a money market fund may invest. Central Cash Management Fund seeks to maintain a stable net asset value, and Deutsche Variable NAV Money Fund maintains a floating net asset value. The Fund indirectly bears its proportionate share of the expenses of each affiliated money market fund in which it invests. Central Cash Management Fund does not pay the Advisor an investment management fee. To the extent that Deutsche Variable NAV Money Fund pays an investment management fee to the Advisor, the Advisor will waive an amount of the investment management fee payable to the Advisor by the Fund equal to the amount of the investment management fee payable on the Fund's assets invested in Deutsche Variable NAV Money Fund.

D. Line of Credit

The Fund and other affiliated funds (the "Participants") share in a $400 million revolving credit facility provided by a syndication of banks. The Fund may borrow for temporary or emergency purposes, including the meeting of redemption requests that otherwise might require the untimely disposition of securities. The Participants are charged an annual commitment fee which is allocated based on net assets, among each of the Participants. Interest is calculated at a rate per annum equal to the sum of the Federal Funds Rate plus 1.25 percent plus if LIBOR exceeds the Federal Funds Rate the amount of such excess. The Fund may borrow up to a maximum of 33 percent of its net assets under the agreement. The Fund had no outstanding loans at September 30, 2014.

E. Share Transactions

The following table summarizes share and dollar activity in the Fund:

	Year Ended September 30, 2014						Year Ended September 30, 2013
	Shares			Dollars			Shares			Dollars
Shares sold							Shares sold
Class A		1,541,182		$	36,020,061			1,243,046		$	25,399,893
Class B		5,599			124,508			5,000			97,088
Class C		266,596			6,023,455			250,692			5,038,209
Class R6*		398			9,999			—			—
Class S		2,904,674			68,126,625			2,859,651			58,649,317
Institutional Class		1,232,665			28,854,409			4,338,868			86,370,172
				$	139,159,057					$	175,554,679
Shares issued to shareholders in reinvestment of distributions
Class A		923,911		$	20,548,731			215,567		$	4,194,321
Class B		10,249			218,618			1,748			31,203
Class C		74,281			1,599,280			8,601			157,356
Class R		3.82			85			.5			10
Class R6*		.92			23			—			—
Class S		7,928,533			178,196,685			2,090,807			41,228,030
Institutional Class		295,137			6,639,749			208,430			4,007,709
				$	207,203,171					$	49,618,629
Shares redeemed
Class A		(2,694,381	)	$	(63,091,937	)		(2,598,605	)	$	(51,495,113	)
Class B		(90,592	)		(2,029,999	)		(124,884	)		(2,422,211	)
Class C		(323,168	)		(7,316,443	)		(281,906	)		(5,365,864	)
Class S		(12,092,184	)		(285,418,746	)		(15,473,650	)		(308,615,845	)
Institutional Class		(1,602,513	)		(38,401,061	)		(15,020,813	)		(321,614,303	)
				$	(396,258,186	)				$	(689,513,336	)
Net increase (decrease)
Class A		(229,288	)	$	(6,523,145	)		(1,139,992	)	$	(21,900,899	)
Class B		(74,744	)		(1,686,873	)		(118,136	)		(2,293,920	)
Class C		17,709			306,292			(22,613	)		(170,299	)
Class R		3.82			85			.5			10
Class R6*		398.92			10,022			—			—
Class S		(1,258,977	)		(39,095,436	)		(10,523,192	)		(208,738,498	)
Institutional Class		(74,711	)		(2,906,903	)		(10,473,515	)		(231,236,422	)
				$	(49,895,958	)				$	(464,340,028	)

* For the period from August 25, 2014 (commencement of operations of Class R6) to September 30, 2014.

Report of Independent Registered Public Accounting Firm

To the Trustees of Deutsche Investment Trust and Shareholders of Deutsche Core Equity Fund:

In our opinion, the accompanying statement of assets and liabilities, including the investment portfolio, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of Deutsche Core Equity Fund (formerly DWS Core Equity Fund) (the "Fund") at September 30, 2014, and the results of its operations, the changes in its net assets and the financial highlights for each of the periods indicated therein, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Fund's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities at September 30, 2014by correspondence with the custodian, transfer agent and brokers, provide a reasonable basis for our opinion.

Boston, Massachusetts November 21, 2014 PricewaterhouseCoopers LLP

Information About Your Fund's Expenses

As an investor of the Fund, you incur two types of costs: ongoing expenses and transaction costs. Ongoing expenses include management fees, distribution and service (12b-1) fees and other Fund expenses. Examples of transaction costs include sales charges (loads) and account maintenance fees, which are not shown in this section. The following tables are intended to help you understand your ongoing expenses (in dollars) of investing in the Fund and to help you compare these expenses with the ongoing expenses of investing in other mutual funds. In the most recent six-month period, Class R shares limited these expenses; had they not done so, expenses would have been higher. The example in the table is based on an investment of $1,000 invested at the beginning of the six-month period and held for the entire period (April 1, 2014 to September 30, 2014).

The tables illustrate your Fund's expenses in two ways:

—Actual Fund Return. This helps you estimate the actual dollar amount of ongoing expenses (but not transaction costs) paid on a $1,000 investment in the Fund using the Fund's actual return during the period. To estimate the expenses you paid over the period, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the "Expenses Paid per $1,000" line under the share class you hold.

—Hypothetical 5% Fund Return. This helps you to compare your Fund's ongoing expenses (but not transaction costs) with those of other mutual funds using the Fund's actual expense ratio and a hypothetical rate of return of 5% per year before expenses. Examples using a 5% hypothetical fund return may be found in the shareholder reports of other mutual funds. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.

Please note that the expenses shown in these tables are meant to highlight your ongoing expenses only and do not reflect any transaction costs. The "Expenses Paid per $1,000" line of the tables is useful in comparing ongoing expenses only and will not help you determine the relative total expense of owning different funds. Subject to certain exceptions, an account maintenance fee of $20.00 assessed once per calendar year for Classes A, B, C and S shares may apply for accounts with balances less than $10,000. This fee is not included in these tables. If it was, the estimate of expenses paid for Classes A, B, C and S shares during the period would be higher, and account value during the period would be lower, by this amount.

Expenses and Value of a $1,000 Investment for the six months ended September 30, 2014 (Unaudited)
Actual Fund Return	Class A		Class B		Class C		Class R		Class R6*		Class S		Institutional Class
Beginning Account Value 4/1/14	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value 9/30/14	$	1,072.30	$	1,068.00	$	1,068.20	$	1,069.50	$	988.37	$	1,073.80	$	1,074.50
Expenses Paid per $1,000**	$	4.62	$	8.97	$	8.66	$	7.52	$	.48	$	3.07	$	2.76
Hypothetical 5% Fund Return	Class A		Class B		Class C		Class R		Class R6		Class S		Institutional Class
Beginning Account Value 4/1/14	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value 9/30/14	$	1,020.61	$	1,016.39	$	1,016.70	$	1,017.80	$	1,022.66	$	1,022.11	$	1,022.41
Expenses Paid per $1,000**	$	4.51	$	8.74	$	8.44	$	7.33	$	2.43	$	2.99	$	2.69

* For the period from August 25, 2014 (commencement of operations of Class R6) to September 30, 2014.

** Expenses (hypothetical expenses if Class R6 had been in existence from April 1, 2014) are equal to the Fund's annualized expense ratio for each share class, multiplied by the average account value over the period, multiplied by 183 (the number of days in the most recent six-month period), then divided by 365.

Annualized Expense Ratios	Class A	Class B	Class C	Class R	Class R6	Class S	Institutional Class
Deutsche Core Equity Fund	.89%	1.73%	1.67%	1.45%	.48%	.59%	.53%

For more information, please refer to the Fund's prospectus.

For an analysis of the fees associated with an investment in the Fund or similar funds, please refer to http://apps.finra.org/fundanalyzer/1/fa.aspx.

Tax Information (Unaudited)

The Fund paid distributions of $0.82 per share from net long-term capital gains during its year ended September 30, 2014.

Pursuant to Section 852 of the Internal Revenue Code, the Fund designates $82,821,000 as capital gain dividends for its year ended September 30, 2014.

For corporate shareholders, 100% of the ordinary dividends (i.e., income dividends plus short-term capital gains) paid during the Fund's fiscal year ended September 30, 2014, qualified for the dividends received deduction.

For federal income tax purposes, the Fund designates $45,842,000, or the maximum amount allowable under tax law, as qualified dividend income.

Please consult a tax advisor if you have questions about federal or state income tax laws, or on how to prepare your tax returns. If you have specific questions about your account, please call (800) 728-3337.

Advisory Agreement Board Considerations and Fee Evaluation

The Board of Trustees approved the renewal of Deutsche Core Equity Fund’s investment management agreement (the "Agreement") with Deutsche Investment Management Americas Inc. ("DIMA") in September 2014.

In terms of the process that the Board followed prior to approving the Agreement, shareholders should know that:

— In September 2014, all of the Fund’s Trustees were independent of DIMA and its affiliates.

— The Trustees met frequently during the past year to discuss fund matters and dedicated a substantial amount of time to contract review matters. Over the course of several months, the Board’s Contract Committee, in coordination with the Board’s Equity Oversight Committee, reviewed comprehensive materials received from DIMA, independent third parties and independent counsel. These materials included an analysis of the Fund’s performance, fees and expenses, and profitability compiled by a fee consultant retained by the Fund’s Independent Trustees (the "Fee Consultant"). The Board also received extensive information throughout the year regarding performance of the Fund.

— The Independent Trustees regularly meet privately with counsel to discuss contract review and other matters. In addition, the Independent Trustees were advised by the Fee Consultant in the course of their review of the Fund’s contractual arrangements and considered a comprehensive report prepared by the Fee Consultant in connection with their deliberations.

— In connection with reviewing the Agreement, the Board also reviewed the terms of the Fund’s Rule 12b-1 plan, distribution agreement, administrative services agreement, transfer agency agreement and other material service agreements.

— Based on its evaluation of the information provided, the Contract Committee presented its findings and recommendations to the Board. The Board then reviewed the Contract Committee’s findings and recommendations.

In connection with the contract review process, the Contract Committee and the Board considered the factors discussed below, among others. The Board also considered that DIMA and its predecessors have managed the Fund since its inception, and the Board believes that a long-term relationship with a capable, conscientious advisor is in the best interests of the Fund. The Board considered, generally, that shareholders chose to invest or remain invested in the Fund knowing that DIMA managed the Fund, and that the Agreement was approved by the Fund’s shareholders. DIMA is part of Deutsche Bank AG ("DB"), a major global banking institution that is engaged in a wide range of financial services. The Board believes that there are advantages to being part of a global asset management business that offers a wide range of investing expertise and resources, including hundreds of portfolio managers and analysts with research capabilities in many countries throughout the world.

As part of the contract review process, the Board carefully considered the fees and expenses of each Deutsche fund overseen by the Board in light of the fund’s performance. In many cases, this led to the negotiation and implementation of expense caps. As part of these negotiations, the Board indicated that it would consider relaxing these caps in future years following sustained improvements in performance, among other considerations.

In 2012, DB combined its Asset Management (of which DIMA was a part) and Wealth Management divisions into a new Asset and Wealth Management ("AWM") division. DB has advised the Independent Trustees that the U.S. asset management business is a critical and integral part of DB, and that DB will continue to invest in AWM a significant portion of the savings it has realized by combining its Asset and Wealth Management divisions, including ongoing enhancements to AWM’s investment capabilities. DB also has confirmed its commitment to maintaining strong legal and compliance groups within the AWM division.

While shareholders may focus primarily on fund performance and fees, the Fund’s Board considers these and many other factors, including the quality and integrity of DIMA’s personnel and such other issues as back-office operations, fund valuations, and compliance policies and procedures.

Nature, Quality and Extent of Services. The Board considered the terms of the Agreement, including the scope of advisory services provided under the Agreement. The Board noted that, under the Agreement, DIMA provides portfolio management services to the Fund and that, pursuant to a separate administrative services agreement, DIMA provides administrative services to the Fund. The Board considered the experience and skills of senior management and investment personnel, the resources made available to such personnel, the ability of DIMA to attract and retain high-quality personnel, and the organizational depth and stability of DIMA. The Board reviewed the Fund’s performance over short-term and long-term periods and compared those returns to various agreed-upon performance measures, including market index(es) and a peer universe compiled by the Fee Consultant using information supplied by Morningstar Direct ("Morningstar"), an independent fund data service. The Board also noted that it has put into place a process of identifying "Focus Funds" (e.g., funds performing poorly relative to a peer universe), and receives more frequent reporting and information from DIMA regarding such funds, along with DIMA’s plans to address underperformance. The Board believes this process is an effective manner of identifying and addressing underperforming funds. Based on the information provided, the Board noted that for each of the one-, three- and five-year periods ended December 31, 2013, the Fund’s performance (Class A shares) was in the 1st quartile of the applicable Morningstar universe (the 1st quartile being the best performers and the 4th quartile being the worst performers). The Board also observed that the Fund has outperformed its benchmark in the one- and five-year periods and has underperformed its benchmark in the three-year period ended December 31, 2013.

Fees and Expenses. The Board considered the Fund’s investment management fee schedule, operating expenses and total expense ratios, and comparative information provided by Lipper Inc. ("Lipper") and the Fee Consultant regarding investment management fee rates paid to other investment advisors by similar funds (1st quartile being the most favorable and 4th quartile being the least favorable). With respect to management fees paid to other investment advisors by similar funds, the Board noted that the contractual fee rates paid by the Fund, which include a 0.10% fee paid to DIMA under the Fund’s administrative services agreement, were lower than the median (1st quartile) of the applicable Lipper peer group (based on Lipper data provided as of December 31, 2013). The Board noted that the Fund’s Class A shares total (net) operating expenses (excluding 12b-1 fees) were expected to be lower than the median (1st quartile) of the applicable Lipper expense universe (based on Lipper data provided as of December 31, 2013, and analyzing Lipper expense universe Class A (net) expenses less any applicable 12b-1 fees) ("Lipper Universe Expenses"). The Board also reviewed data comparing each share class’s total (net) operating expenses to the applicable Lipper Universe Expenses. The Board considered the Fund’s management fee rate as compared to fees charged by DIMA to comparable funds and considered differences between the Fund and the comparable funds. The Board also considered how the Fund’s total (net) operating expenses compared to the total (net) operating expenses of a more customized peer group selected by Lipper (based on such factors as asset size).

The Board also noted that the expense limitations agreed to by DIMA helped to ensure that the Fund’s total (net) operating expenses would remain competitive.

The information requested by the Board as part of its review of fees and expenses also included information about institutional accounts and funds offered primarily to European investors ("Deutsche Europe funds") managed by DIMA and its affiliates. The Board noted that DIMA indicated that it manages an institutional account comparable to the Fund, but does not manage any comparable Deutsche Europe funds. The Board took note of the differences in services provided to Deutsche U.S. mutual funds ("Deutsche Funds") as compared to institutional accounts and that such differences made comparison difficult.

On the basis of the information provided, the Board concluded that management fees were reasonable and appropriate in light of the nature, quality and extent of services provided by DIMA.

Profitability. The Board reviewed detailed information regarding revenues received by DIMA under the Agreement. The Board considered the estimated costs and pre-tax profits realized by DIMA from advising the Deutsche Funds, as well as estimates of the pre-tax profits attributable to managing the Fund in particular. The Board also received information regarding the estimated enterprise-wide profitability of DIMA and its affiliates with respect to all fund services in totality and by fund. The Board and the Fee Consultant reviewed DIMA’s methodology in allocating its costs to the management of the Fund. Based on the information provided, the Board concluded that the pre-tax profits realized by DIMA in connection with the management of the Fund were not unreasonable.

Economies of Scale. The Board considered whether there are economies of scale with respect to the management of the Fund and whether the Fund benefits from any economies of scale. The Board noted that the Fund’s management fee schedule includes fee breakpoints. The Board concluded that the Fund’s fee schedule represents an appropriate sharing between the Fund and DIMA of such economies of scale as may exist in the management of the Fund at current asset levels.

Other Benefits to DIMA and Its Affiliates. The Board also considered the character and amount of other incidental benefits received by DIMA and its affiliates, including any fees received by DIMA for administrative services provided to the Fund and any fees received by an affiliate of DIMA for distribution services. The Board also considered benefits to DIMA related to brokerage and soft-dollar allocations, including allocating brokerage to pay for research generated by parties other than the executing broker dealers, which pertain primarily to funds investing in equity securities, along with the incidental public relations benefits to DIMA related to Deutsche Funds advertising and cross-selling opportunities among DIMA products and services. The Board concluded that management fees were reasonable in light of these fallout benefits.

Compliance. The Board considered the significant attention and resources dedicated by DIMA to documenting and enhancing its compliance processes in recent years. The Board noted in particular (i) the experience and seniority of both DIMA’s chief compliance officer and the Fund’s chief compliance officer; (ii) the large number of DIMA compliance personnel; and (iii) the substantial commitment of resources by DIMA and its affiliates to compliance matters.

Based on all of the information considered and the conclusions reached, the Board unanimously determined that the continuation of the Agreement is in the best interests of the Fund. In making this determination, the Board did not give particular weight to any single factor identified above. The Board considered these factors over the course of numerous meetings, certain of which were in executive session with only the Independent Trustees and counsel present. It is possible that individual Trustees may have weighed these factors differently in reaching their individual decisions to approve the continuation of the Agreement.

Board Members and Officers

The following table presents certain information regarding the Board Members and Officers of the fund. 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 Independent Board Member is c/o Kenneth C. Froewiss, Chairman, Deutsche Mutual Funds, P.O. Box 390601, Cambridge, MA 02139. Except as otherwise noted below, 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 fund. Because the fund does 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 fund complex.

Independent Board Members
Name, Year of Birth, Position with the Fund and Length of Time Served1	Business Experience and Directorships During the Past Five Years	Number of Funds in Deutsche Fund Complex Overseen	Other Directorships Held by Board Member
Kenneth C. Froewiss (1945) Chairperson since 2013, and Board Member since 2001	Adjunct Professor of Finance, NYU Stern School of Business (September 2009–present; Clinical Professor from 1997–September 2009); 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)	105	—
William McClayton (1944) Vice Chairperson since 2013, and Board Member since 2004	Private equity investor (since October 2009); previously, Managing Director, Diamond Management & Technology Consultants, Inc. (global consulting firm) (2001–2009); Directorship: Board of Managers, YMCA of Metropolitan Chicago; formerly: Senior Partner, Arthur Andersen LLP (accounting) (1966–2001); Trustee, Ravinia Festival	105	—
John W. Ballantine (1946) Board Member since 1999	Retired; formerly, Executive Vice President and Chief Risk Management Officer, First Chicago NBD Corporation/The First National Bank of Chicago (1996–1998); Executive Vice President and Head of International Banking (1995–1996); former Directorships: Director and former Chairman of the Board, Healthways, Inc.2 (provider of disease and care management services) (2003–2014); Stockwell Capital Investments PLC (private equity); First Oak Brook Bancshares, Inc. and Oak Brook Bank; Prisma Energy International	105	Portland General Electric2 (utility company) (2003– present)
Henry P. Becton, Jr. (1943) Board Member since 1990	Vice Chair and former President, WGBH Educational Foundation. Directorships: Public Radio International; Public Radio Exchange (PRX); North Bennett Street School (Boston); former Directorships: Belo Corporation2 (media company); The PBS Foundation; Association of Public Television Stations; Boston Museum of Science; American Public Television; Concord Academy; New England Aquarium; Mass. Corporation for Educational Telecommunications; Committee for Economic Development; Public Broadcasting Service; Connecticut College	105	Lead Director, Becton Dickinson and Company2 (medical technology company)
Dawn-Marie Driscoll (1946) Board Member since 1987	Emeritus Executive Fellow, Center for Business Ethics, Bentley University; formerly: President, Driscoll Associates (consulting firm); Partner, Palmer & Dodge (law firm) (1988–1990); Vice President of Corporate Affairs and General Counsel, Filene's (retail) (1978–1988). Directorships: Director of ICI Mutual Insurance Company (since 2007); Advisory Board, Center for Business Ethics, Bentley University; Trustee and former Chairman of the Board, Southwest Florida Community Foundation (charitable organization); former Directorships: Sun Capital Advisers Trust (mutual funds) (2007–2012), Investment Company Institute (audit, executive, nominating committees) and Independent Directors Council (governance, executive committees)	105	—
Keith R. Fox, CFA (1954) Board Member since 1996	Managing General Partner, Exeter Capital Partners (a series of private investment funds) (since 1986). Directorships: Progressive International Corporation (kitchen goods importer and distributor); The Kennel Shop (retailer); former Chairman, National Association of Small Business Investment Companies; former Directorships: BoxTop Media Inc. (advertising); Sun Capital Advisers Trust (mutual funds) (2011–2012)	105	—
Paul K. Freeman (1950) Board Member since 1993	Consultant, World Bank/Inter-American Development Bank; Chair, Governing Council of the Independent Directors Council (Chairman of Education Committee); formerly: Project Leader, International Institute for Applied Systems Analysis (1998–2001); Chief Executive Officer, The Eric Group, Inc. (environmental insurance) (1986–1998); Directorships: Denver Zoo Foundation (December 2012–present); former Directorships: Prisma Energy International	105	—
Richard J. Herring (1946) Board Member since 1990	Jacob Safra Professor of International Banking and Professor, Finance Department, The Wharton School, University of Pennsylvania (since July 1972); Co-Director, Wharton Financial Institutions Center; Co-Chair, U.S. Shadow Financial Regulatory Committee; Executive Director, Financial Economists Roundtable; formerly: Vice Dean and Director, Wharton Undergraduate Division (July 1995–June 2000); Director, Lauder Institute of International Management Studies (July 2000–June 2006)	105	Director, Aberdeen Singapore and Japan Funds (since 2007); Independent Director of Barclays Bank Delaware (since September 2010)
Rebecca W. Rimel (1951) Board Member since 1995	President and Chief Executive Officer, The Pew Charitable Trusts (charitable organization) (1994 to present); formerly: Executive Vice President, The Glenmede Trust Company (investment trust and wealth management) (1983–2004); Board Member, Investor Education (charitable organization) (2004–2005); Trustee, Executive Committee, Philadelphia Chamber of Commerce (2001–2007); Director, Viasys Health Care2 (January 2007–June 2007); Trustee, Thomas Jefferson Foundation (charitable organization) (1994–2012)	105	Director, Becton Dickinson and Company2 (medical technology company) (2012– present); Director, BioTelemetry Inc.2 (health care) (2009– present)
William N. Searcy, Jr. (1946) Board Member since 1993	Private investor since October 2003; formerly: Pension & Savings Trust Officer, Sprint Corporation2 (telecommunications) (November 1989–September 2003); Trustee, Sun Capital Advisers Trust (mutual funds) (1998–2012)	105	—
Jean Gleason Stromberg (1943) Board Member since 1997	Retired. Formerly, Consultant (1997–2001); Director, Financial Markets U.S. Government Accountability Office (1996–1997); Partner, Norton Rose Fulbright, L.L.P. (law firm) (1978–1996). Directorships: The William and Flora Hewlett Foundation (charitable organization); former Directorships: Service Source, Inc. (nonprofit), Mutual Fund Directors Forum (2002–2004), American Bar Retirement Association (funding vehicle for retirement plans) (1987–1990 and 1994–1996)	105	—
Robert H. Wadsworth (1940) Board Member since 1999	President, Robert H. Wadsworth & Associates, Inc. (consulting firm) (1983 to present); Director, The Phoenix Boys Choir Association	105	—

Officers4
Name, Year of Birth, Position with the Fund and Length of Time Served5	Business Experience and Directorships During the Past Five Years
Brian E. Binder8 (1972) President and Chief Executive Officer, 2013–present	Managing Director3 and Head of Fund Administration, Deutsche Asset & Wealth Management (2013–present); formerly: Head of Business Management and Consulting at Invesco, Ltd. (2010–2012); Chief Administrative Officer, Van Kampen Funds Inc. (2008–2010); and Chief Administrative Officer, Morgan Stanley Investment Management Americas Distribution (2003–2008)
John Millette7 (1962) Vice President and Secretary, 1999–present	Director,3 Deutsche Asset & Wealth Management
Paul H. Schubert6 (1963) Chief Financial Officer, 2004–present Treasurer, 2005–present	Managing Director,3 Deutsche Asset & Wealth 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)
Caroline Pearson7 (1962) Chief Legal Officer, 2010–present	Managing Director,3 Deutsche Asset & Wealth Management; formerly: Assistant Secretary for DWS family of funds (1997–2010)
Melinda Morrow6 (1970) Vice President, 2012–present	Director,3 Deutsche Asset & Wealth Management
Hepsen Uzcan7 (1974) Assistant Secretary, 2013–present	Director,3 Deutsche Asset & Wealth Management
Paul Antosca7 (1957) Assistant Treasurer, 2007–present	Director,3 Deutsche Asset & Wealth Management
Jack Clark7 (1967) Assistant Treasurer, 2007–present	Director,3 Deutsche Asset & Wealth Management
Diane Kenneally7 (1966) Assistant Treasurer, 2007–present	Director,3 Deutsche Asset & Wealth Management
Wayne Salit6 (1967) Anti-Money Laundering Compliance Officer, 2014–present	Director,3 Deutsche Asset & Wealth Management; formerly: Managing Director, AML Compliance Officer at BNY Mellon (2011–2014); and Director, AML Compliance Officer at Deutsche Bank (2004–2011)
Robert Kloby6 (1962) Chief Compliance Officer, 2006–present	Managing Director,3 Deutsche Asset & Wealth Management

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

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

3 Executive title, not a board directorship.

4 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 fund.

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

6 Address: 60 Wall Street, New York, NY 10005.

7 Address: One Beacon Street, Boston, MA 02108.

8 Address: 222 South Riverside Plaza, Chicago, IL 60606.

The fund's Statement of Additional Information ("SAI") includes additional information about the Board Members. The SAI is available, without charge, upon request. If you would like to request a copy of the SAI, you may do so by calling the following toll-free number: (800) 728-3337.

Account Management Resources

For More Information	The automated telephone system allows you to access personalized account information and obtain information on other Deutsche funds using either your voice or your telephone keypad. Certain account types within Classes A, B, C and S also have the ability to purchase, exchange or redeem shares using this system. For more information, contact your financial advisor. You may also access our automated telephone system or speak with a Shareholder Service representative by calling: (800) 728-3337
Web Site	deutschefunds.com View your account transactions and balances, trade shares, monitor your asset allocation, subscribe to fund and account updates by e-mail, and change your address, 24 hours a day. Obtain prospectuses and applications, blank forms, interactive worksheets, news about Deutsche funds, retirement planning information, and more.
Written Correspondence	Deutsche Asset & Wealth Management PO Box 219151 Kansas City, MO 64121-9151
Proxy Voting	The fund's policies and procedures for voting proxies for portfolio securities and information about how the fund voted proxies related to its portfolio securities during the 12-month period ended June 30 are available on our Web site — deutschefunds.com (click on "proxy voting"at the bottom of the page) — or on the SEC's Web site — sec.gov. To obtain a written copy of the fund's policies and procedures without charge, upon request, call us toll free at (800) 728-3337.
Portfolio Holdings	Following the fund's fiscal first and third quarter-end, a complete portfolio holdings listing is filed with the SEC on Form N-Q. This form will be available on the SEC's Web site at sec.gov, and it also may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. Information on the operation of the SEC's Public Reference Room may be obtained by calling (800) SEC-0330. The fund's portfolio holdings are also posted on deutschefunds.com from time to time. Please see the fund's current prospectus for more information.
Principal Underwriter	If you have questions, comments or complaints, contact: DeAWM Distributors, Inc. 222 South Riverside Plaza Chicago, IL 60606-5808 (800) 621-1148
Investment Management	Deutsche Investment Management Americas Inc. ("DIMA" or the "Advisor"), which is part of Deutsche Asset & Wealth Management, is the investment advisor for the fund. DIMA and its predecessors have more than 80 years of experience managing mutual funds and DIMA provides a full range of investment advisory services to both institutional and retail clients. DIMA is an indirect, wholly owned subsidiary of Deutsche Bank AG. Deutsche Bank AG is a major global banking institution engaged in a wide variety of financial services, including investment management, retail, private and commercial banking, investment banking and insurance. Deutsche Asset & Wealth Management is the retail brand name in the U.S. for the wealth management and asset management activities of Deutsche Bank AG and DIMA. Deutsche Asset & Wealth Management is committed to delivering the investing expertise, insight and resources of this global investment platform to American investors.

	Class A	Class B	Class C	Class S	Institutional Class
Nasdaq Symbol	SUWAX	SUWBX	SUWCX	SCDGX	SUWIX
CUSIP Number	25157M 729	25157M 653	25157M 661	25157M 679	25157M 687
Fund Number	464	664	764	2064	550

For shareholders of Class R
Automated Information Line	DeAWM Flex Plan Access (800) 728-3337 24-hour access to your retirement plan account.
Web Site	deutschefunds.com Click "Retirement Plans" to reallocate assets, process transactions, review your funds, and subscribe to fund updates by e-mail through our secure online account access. Obtain prospectuses and applications, blank forms, interactive worksheets, news about Deutsche funds, retirement planning information, and more.
For More Information	(800) 728-3337 To speak with a service representative.
Written Correspondence	DeAWM Service Company 222 South Riverside Plaza Chicago, IL 60606-5806

	Class R	Class R6
Nasdaq Symbol	SUWTX	SUWZX
CUSIP Number	25157M 646	25157M 612
Fund Number	1564	1664

Notes

ITEM 2.	CODE OF ETHICS
	As of the end of the period covered by this report, the registrant has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its Principal Executive Officer and Principal Financial Officer. There have been no amendments to, or waivers from, a provision of the code of ethics during the period covered by this report that would require disclosure under Item 2. A copy of the code of ethics is filed as an exhibit to this Form N-CSR.
ITEM 3.	AUDIT COMMITTEE FINANCIAL EXPERT
	The fund’s audit committee is comprised solely of trustees who are "independent" (as such term has been defined by the Securities and Exchange Commission ("SEC") in regulations implementing Section 407 of the Sarbanes-Oxley Act (the "Regulations")). The fund’s Board of Trustees has determined that there are several "audit committee financial experts" (as such term has been defined by the Regulations) serving on the fund’s audit committee including Mr. Paul K. Freeman, the chair of the fund’s audit committee. An “audit committee financial expert” is not an “expert” for any purpose, including for purposes of Section 11 of the Securities Act of 1933 and the designation or identification of a person as an “audit committee financial expert” does not impose on such person any duties, obligations or liability that are greater than the duties, obligations and liability imposed on such person as a member of the audit committee and board of directors in the absence of such designation or identification.
ITEM 4.	PRINCIPAL ACCOUNTANT FEES AND SERVICES

DEUTSCHE CORE EQUITY FUND

FORM N-CSR DISCLOSURE RE: AUDIT FEES

The following table shows the amount of fees that PricewaterhouseCoopers, LLP (“PWC”), the Fund’s independent registered public accounting firm, billed to the Fund during the Fund’s last two fiscal years.  The Audit Committee approved in advance all audit services and non-audit services that PWC provided to the Fund.

Services that the Fund’s Independent Registered Public Accounting Firm Billed to the Fund

Fiscal Year Ended September 30,	Audit Fees Billed to Fund		Audit-Related Fees Billed to Fund		Tax Fees Billed to Fund		All Other Fees Billed to Fund
2014	$	74,220	$	0	$	0	$	0
2013	$	71,457	$	0	$	0	$	0

Services that the Fund’s Independent Registered Public Accounting Firm Billed to the Adviser and Affiliated Fund Service Providers

The following table shows the amount of fees billed by PWC to Deutsche Investment Management Americas Inc. (“DIMA” or the “Adviser”), and any entity controlling, controlled by or under common control with DIMA (“Control Affiliate”) that provides ongoing services to the Fund (“Affiliated Fund Service Provider”), for engagements directly related to the Fund’s operations and financial reporting, during the Fund’s last two fiscal years.

Fiscal Year Ended September 30,	Audit-Related Fees Billedto Adviser and Affiliated Fund Service Providers		Tax Fees Billed to Adviser and Affiliated Fund Service Providers		All Other Fees Billed to Adviser and Affiliated Fund Service Providers
2014	$	0	$	63,439	$	0
2013	$	0	$	66,535	$	0

The “Tax Fees Billed to the Advisor” were billed for services associated with foreign tax filings.

Non-Audit Services

The following table shows the amount of fees that PWC billed during the Fund’s last two fiscal years for non-audit services. The Audit Committee pre-approved all non-audit services that PWC provided to the Adviser and any Affiliated Fund Service Provider that related directly to the Fund’s operations and financial reporting. The Audit Committee requested and received information from PWC about any non-audit services that PWC rendered during the Fund’s last fiscal year to the Adviser and any Affiliated Fund Service Provider.  The Committee considered this information in evaluating PWC’s independence.

Fiscal Year Ended September 30,	Total Non-Audit Fees Billed to Fund (A)		Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (engagements related directly to the operations and financial reporting of the Fund) (B)		Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (all other engagements) (C)		Total of (A), (B) and (C)
2014	$	0	$	63,439	$	0	$	63,439
2013	$	0	$	66,535	$	0	$	66,535

Audit Committee Pre-Approval Policies and Procedures.  Generally, each Fund’s Audit Committee must pre approve (i) all services to be performed for a Fund by a Fund’s Independent Registered Public Accounting Firm and (ii) all non-audit services to be performed by a Fund’s Independent Registered Public Accounting Firm for the DIMA Entities with respect to operations and financial reporting of the Fund, except that the Chairperson or Vice Chairperson of each Fund’s Audit Committee may grant the pre-approval for non-audit services described in items (i) and (ii) above for non-prohibited services for engagements of less than $100,000.  All such delegated pre approvals shall be presented to each Fund’s Audit Committee no later than the next Audit Committee meeting.

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception under Rule 2-01 of Regulation S-X.

According to the registrant’s principal Independent Registered Public Accounting Firm, substantially all of the principal Independent Registered Public Accounting Firm's hours spent on auditing the registrant's financial statements were attributed to work performed by full-time permanent employees of the principal Independent Registered Public Accounting Firm.

***

ITEM 5.	AUDIT COMMITTEE OF LISTED REGISTRANTS
	Not applicable
ITEM 6.	SCHEDULE OF INVESTMENTS
	Not applicable
ITEM 7.	DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES
	Not applicable
ITEM 8.	PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES
	Not applicable
ITEM 9.	PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS
	Not applicable
ITEM 10.	SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
	There were no material changes to the procedures by which shareholders may recommend nominees to the Fund’s Board. The primary function of the Nominating and Governance Committee is to identify and recommend individuals for membership on the Board and oversee the administration of the Board Governance Guidelines. Shareholders may recommend candidates for Board positions by forwarding their correspondence by U.S. mail or courier service to Kenneth C. Froewiss, Independent Chairman, Deutsche Mutual Funds, P.O. Box 390601, Cambridge, MA 02139.
ITEM 11.	CONTROLS AND PROCEDURES
	(a)	The Chief Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.
	(b)	There have been no changes in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal controls over financial reporting.
ITEM 12.	EXHIBITS
	(a)(1)	Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH.
	(a)(2)	Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.
	(b)	Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT.

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 Core Equity Fund, a series of Deutsche Investment Trust
By:	/s/Brian E. Binder Brian E. Binder President
Date:	November 28, 2014

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:	November 28, 2014
By:	/s/Paul Schubert Paul Schubert Chief Financial Officer and Treasurer
Date:	November 28, 2014

EX-99.CODE ETH

Deutsche Asset & Wealth Management

Principal Executive and Principal Financial Officer Code of Ethics

For the Registered Management Investment Companies Listed on Appendix A

Effective Date

[January 31, 2005]

Revised Appendix A

[December 6, 2013]

Table of Contents

Page Number

I. Overview  3

II. Purposes of the Officer Code  3

III. Responsibilities of Covered Officers  4

A. Honest and Ethical Conduct  4

B. Conflicts of Interest  4

C. Use of Personal Fund Shareholder Information  6

D. Public Communications  6

E. Compliance with Applicable Laws, Rules and Regulations  7

IV. Violation Reporting  7

A. Overview  7

B. How to Report  7

C. Process for Violation Reporting to the Fund Board  7

D. Sanctions for Code Violations  8

V. Waivers from the Officer Code  8

VI. Amendments to the Code  8

VII. Acknowledgement and Certification of Adherence to the Officer Code  8

IX. Recordkeeping  9

X. Confidentiality  9

Appendices  10

Appendix A:  List of Officers Covered under the Code, by Board  10

Appendix B:  Officer Code Acknowledgement and Certification Form  11

Appendix C:  Definitions  13

I.   Overview

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

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

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

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

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

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

II.   Purposes of the Officer Code

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

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

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

·   promote compliance with applicable laws, rules and regulations;

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

·   establish accountability for adherence to the Officer Code.

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

III.   Responsibilities of Covered Officers

A.Honest and Ethical Conduct

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

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

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

B.Conflicts of Interest

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

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

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

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

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

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

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

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

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

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

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

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

C.Use of Personal Fund Shareholder Information

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

D.Public Communications

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

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

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

E.Compliance with Applicable Laws, Rules and Regulations

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

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

IV.   Violation Reporting

A.Overview

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

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

·   Unethical or dishonest behavior

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

·   Failure to report violations of the Officer Code

·   Known or obvious deviations from Applicable Laws

·   Failure to acknowledge and certify adherence to the Officer Code

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

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

B.How to Report

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

C.Process for Violation Reporting to the Fund Board

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

D.Sanctions for Code Violations

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

V.   Waivers from the Officer Code

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

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

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

VI.   Amendments to the Code

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

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

VII.   Acknowledgement and Certification of Adherence to the Officer Code

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

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

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

VIII.   Scope of Responsibilities

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

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

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

IX.   Recordkeeping

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

X.   Confidentiality

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

Appendices

Appendix A:

List of Officers Covered under the Code, by Board:

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

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

DeAWM Compliance Officer:

Joseph S. Yuen

Head of Gifts/Entertainment & the Code of Ethics

212-250-4773

917-512-9286 fax

As of:                      December 6, 2013

 

5 As of December 1, 2013

Appendix B: Acknowledgement and Certification

Initial Acknowledgement and Certification

of Obligations Under the Officer Code

Print Name                                                      Department                                           Location                                Telephone

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

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

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

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

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

Signature                                                                                                                     Date

Annual Acknowledgement and Certification

of Obligations Under the Officer Code

Print Name                                                      Department                                           Location                                Telephone

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

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

3.   I have adhered to the Officer Code.

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

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

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

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

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

Signature                                                                                                                     Date

Appendix C:  Definitions

Principal Executive Officer

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

Principal Financial Officer

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

Registered Investment Management Investment Company

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

Waiver

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

Implicit Waiver

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

EX-99.CERT

President

Form N-CSR Certification under Sarbanes Oxley Act

I, Brian E. Binder, certify that:

1.   I have reviewed this report, filed on behalf of Deutsche Core Equity Fund, a series of Deutsche Investment Trust, on Form N-CSR;

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

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

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

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

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

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

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

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

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

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

November 28, 2014	/s/Brian E. Binder
	Brian E. Binder
	President

Chief Financial Officer and Treasurer

Form N-CSR Certification under Sarbanes Oxley Act

I, Paul Schubert, certify that:

1.   I have reviewed this report, filed on behalf of Deutsche Core Equity Fund, a series of Deutsche Investment Trust, on Form N-CSR;

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

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

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

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

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

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

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

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

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

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

November 28, 2014	/s/Paul Schubert
	Paul Schubert
	Chief Financial Officer and Treasurer

EX-99.906 CERT

President

Section 906 Certification under Sarbanes Oxley Act

I, Brian E. Binder, certify that:

1.   I have reviewed this report, filed on behalf of Deutsche Core Equity Fund, a series of Deutsche Investment Trust, on Form N-CSR;

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

November 28, 2014	/s/Brian E. Binder
	Brian E. Binder
	President

Chief Financial Officer and Treasurer

Section 906 Certification under Sarbanes Oxley Act

I, Paul Schubert, certify that:

1.   I have reviewed this report, filed on behalf of Deutsche Core Equity Fund, a series of Deutsche Investment Trust, on Form N-CSR;

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

November 28, 2014	/s/Paul Schubert
	Paul Schubert
	Chief Financial Officer and Treasurer