0000088053-16-002674.txt : 20160929 0000088053-16-002674.hdr.sgml : 20160929 20160929132247 ACCESSION NUMBER: 0000088053-16-002674 CONFORMED SUBMISSION TYPE: NSAR-B PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20160731 FILED AS OF DATE: 20160929 DATE AS OF CHANGE: 20160929 EFFECTIVENESS DATE: 20160929 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DEUTSCHE INVESTMENT TRUST CENTRAL INDEX KEY: 0000088064 IRS NUMBER: 042212654 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NSAR-B SEC ACT: 1940 Act SEC FILE NUMBER: 811-00043 FILM NUMBER: 161909170 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 212-454-6778 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: DWS INVESTMENT TRUST DATE OF NAME CHANGE: 20060207 FORMER COMPANY: FORMER CONFORMED NAME: INVESTMENT TRUST DATE OF NAME CHANGE: 19980529 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER INVESTMENT TRUST DATE OF NAME CHANGE: 19920703 0000088064 S000005707 Deutsche Large Cap Focus Growth Fund C000015684 Class A SGGAX C000015687 Class C SGGCX C000015689 Class S SCQGX C000015690 Institutional Class SGGIX NSAR-B 1 answer.fil PAGE 1 000 B000000 07/31/2016 000 C000000 0000088064 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.1 000 J000000 A 001 A000000 DEUTSCHE INVESTMENT TRUST 001 B000000 811-00043 001 C000000 2122503220 002 A000000 345 PARK AVENUE 002 B000000 NEW YORK 002 C000000 NY 002 D010000 10154 002 D020000 5808 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 Y 007 B000000 7 007 C010400 4 007 C020400 Deutsche Large Cap Focus Growth Fund 007 C030400 N 008 A000401 DEUTSCHE INVESTMENT MANAGEMENT AMERICAS INC. 008 B000401 A 008 C000401 801-252 008 D010401 NEW YORK 008 D020401 NY 008 D030401 10154 010 A000401 Deutsche Investment Management Americas Inc. 010 B000401 801-252 010 C010401 New York 010 C020401 NY 010 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084 B000400 0 085 A000400 Y 085 B000400 N 086 A010000 0 086 A020000 0 086 B010000 0 086 B020000 0 086 C010000 0 086 C020000 0 086 D010000 0 086 D020000 0 086 E010000 0 086 E020000 0 086 F010000 0 086 F020000 0 SIGNATURE PAUL SCHUBERT TITLE TREASURER EX-99.77B ACCT LTTR 2 77B.txt Report of Independent Registered Public Accounting Firm To the Board of Trustees of Deutsche Investment Trust and Shareholders of Deutsche Large Cap Focus Growth Fund: In planning and performing our audit of the financial statements of Deutsche Large Cap Focus Growth Fund (the "Fund"), as of and for the year ended July 31, 2016, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered the Fund's internal control over financial reporting, including control activities for safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Fund's internal control over financial reporting. The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A fund's internal control over financial reporting is a process designed 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. A fund's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the fund; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the fund are being made only in accordance with authorizations of management and trustees of the fund; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a fund's assets that could have a material effect on the financial statements. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Fund's annual or interim financial statements will not be prevented or detected on a timely basis. Our consideration of the Fund's internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control over financial reporting that might be material weaknesses under standards established by the Public Company Accounting Oversight Board (United States). However, we noted no deficiencies in the Fund's internal control over financial reporting and its operation, including controls over safeguarding securities, which we consider to be material weaknesses as defined above as of July 31, 2016. This report is intended solely for the information and use of the Trustees, management, and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties. PricewaterhouseCoopers LLP Boston, Massachusetts September 22, 2016 1 of 1 EX-99.77D POLICIES 3 77D.txt Item 77D Deutsche Large Cap Focus Growth Fund (a series of Deutsche Investment Trust) Effective on or about October 3, 2016, the Fund's principal investment strategy will be amended to include the following: Derivatives. Portfolio management generally may use futures contracts, which are a type of derivative (a contract whose value is based on, for example, indices, currencies or securities), as a substitute for direct investment in a particular asset class, to keep cash on hand to meet shareholder redemptions or other needs while maintaining exposure to the stock market. The fund may also use other types of derivatives (i) for hedging purposes; (ii) for risk management; (iii) for non-hedging purposes to seek to enhance potential gains; or (iv) as a substitute for direct investment in a particular asset class or to keep cash on hand to meet shareholder redemptions. EX-99.77E LEGAL 4 77E.txt Item 77E - Deutsche Investment Trust (formerly DWS Investment Trust) On December 7, 2010, Deutsche Investment Trust (formerly DWS Investment Trust) (the "Trust") was named as a defendant in the First Amended Complaint filed by the Official Committee of Unsecured Creditors in the U.S. Bankruptcy Court for the District of Delaware in the lawsuit styled Official Committee of Unsecured Creditors of Tribune Company, et al., v. Fitzsimons et al. (the "Lawsuit"). The Lawsuit arises out of a leveraged buyout transaction ("LBO") in 2007 by which loans were made to the Tribune Company to fund the LBO and shares of the Tribune Company held by shareholders were tendered for or were converted to a right to receive cash. Following the completion of the LBO in 2007, the Tribune Company filed for bankruptcy. The Lawsuit seeks to recover all payments made to the shareholders in the LBO. The Lawsuit has been consolidated in a multi- district litigation in the United States District Court for the Southern District of New York, case no. 12- MC-2296. At the outset of the Lawsuit, the Court issued a scheduling order which stayed all substantive proceedings in the Lawsuit until after the decision on motions to dismiss based on certain defenses common to the defendants filed in related cases. On September 23, 2013, the District Court entered an order granting the defendants' motion to dismiss in those related cases due to the pendency of the Lawsuit seeking recoveries on similar grounds, and the plaintiffs in the related cases have appealed that order to the United States Court of Appeals for the Second Circuit. Oral arguments were held in November 2014. On March 29, 2015, the Second Circuit, in a unanimous opinion, affirmed the District Court's dismissal of the related cases. The plaintiffs in the related cases subsequently filed a petition for rehearing, which the Second Circuit denied on July 22, 2016. Accordingly, the Lawsuit will continue to seek recovery of all amounts that the Trust received on a theory of intentional fraudulent conveyance. On November 21, 2013, the District Court entered Master Case Order No. 4 ("MCO 4") setting forth the procedures to govern the Lawsuit and effectively lifting the above-referenced stay. Among other things, MCO 4 requires the parties to present proposals for a structure to govern the upcoming pre-answer motions to dismiss stage of the Lawsuit. On April 25, 2014, the District Court entered an order governing the upcoming stage of the Lawsuit, which directed Ropes & Gray, as Liaison Counsel to the Shareholder Defendants, to file a global motion to dismiss (the "Global Motion to Dismiss") the Lawsuit on behalf of all shareholder defendants named in Exhibit A to the current Fifth Amended Complaint (including the Trust). Briefing of the Global Motion to Dismiss has concluded, and the District Court has not yet scheduled a date for oral argument. The District Court has also deferred all other proposed motions to dismiss the Lawsuit, if necessary, until a later date to be determined. Management is currently assessing the Lawsuit and has not yet determined the effect, if any, on any series of the Trust. Deutsche S&P 500 Index Fund, the only fund in the Trust that was the beneficial holder of shares of the Tribune Company, has been reorganized into Deutsche Institutional Funds and none of the Trust's current funds have exposure in the litigation.