SUPPLEMENT TO THE CURRENTLY EFFECTIVE PROSPECTUSES AND STATEMENTS OF ADDITIONAL INFORMATION OF EACH OF THE LISTED FUNDS
The following changes will take effect on or about July 2, 2018:
Deutsche Investment Management Americas Inc., the investment advisor for the below-listed funds, will be renamed to DWS Investment Management Americas, Inc. In addition, the “Deutsche funds” will become known as the “DWS funds” and the below-listed Deutsche funds and share classes, as applicable, will be renamed as follows:
CURRENT TRUST / CORPORATION NAME | NEW TRUST / CORPORATION NAME |
Current Fund Name | New Fund Name |
DEUTSCHE ASSET ALLOCATION TRUST | DEUTSCHE DWS ASSET ALLOCATION TRUST |
Deutsche Multi-Asset Conservative Allocation Fund | DWS Multi-Asset Conservative Allocation Fund |
Deutsche Multi-Asset Global Allocation Fund | DWS Multi-Asset Global Allocation Fund |
Deutsche Multi-Asset Moderate Allocation Fund | DWS Multi-Asset Moderate Allocation Fund |
DEUTSCHE GLOBAL/INTERNATIONAL FUND, INC. | DEUTSCHE DWS GLOBAL/INTERNATIONAL FUND, INC. |
Deutsche Emerging Markets Fixed Income Fund | DWS Emerging Markets Fixed Income Fund |
Deutsche European Equity Fund | DWS European Equity Fund |
Deutsche Global Infrastructure Fund | DWS RREEF Global Infrastructure Fund |
Deutsche Global Small Cap Fund | DWS Global Small Cap Fund |
Deutsche High Conviction Global Bond Fund | DWS High Conviction Global Bond Fund |
Deutsche International Growth Fund | DWS International Growth Fund |
DEUTSCHE INCOME TRUST | DEUTSCHE DWS INCOME TRUST |
Deutsche Fixed Income Opportunities Fund | DWS Fixed Income Opportunities Fund |
Deutsche Global High Income Fund | DWS Global High Income Fund |
Deutsche GNMA Fund | DWS GNMA Fund |
Deutsche High Income Fund | DWS High Income Fund |
Deutsche Multisector Income Fund | DWS Multisector Income Fund |
Deutsche Short Duration Fund | DWS Short Duration Fund |
Deutsche Short Duration High Income Fund | DWS Short Duration High Income Fund |
DEUTSCHE INSTITUTIONAL FUNDS | DEUTSCHE DWS INSTITUTIONAL FUNDS |
Deutsche EAFE® Equity Index Fund | DWS EAFE® Equity Index Fund |
Deutsche Equity 500 Index Fund (a feeder fund of Deutsche Equity 500 Index Portfolio) |
DWS Equity 500 Index Fund (a feeder fund of Deutsche DWS Equity 500 Index Portfolio) |
Deutsche S&P 500 Index Fund (a feeder fund of Deutsche Equity 500 Index Portfolio) |
DWS S&P 500 Index Fund (a feeder fund of Deutsche DWS Equity 500 Index Portfolio) |
Deutsche U.S. Bond Index Fund | DWS U.S. Bond Index Fund |
Deutsche U.S. Multi-Factor Fund | DWS U.S. Multi-Factor Fund |
DEUTSCHE INTERNATIONAL FUND, INC. | DEUTSCHE DWS INTERNATIONAL FUND, INC. |
Deutsche CROCI® International Fund | DWS CROCI® International Fund |
Deutsche Emerging Markets Equity Fund | DWS Emerging Markets Equity Fund |
Deutsche Global Macro Fund | DWS Global Macro Fund |
Deutsche Latin America Equity Fund | DWS Latin America Equity Fund |
Deutsche World Dividend Fund | DWS World Dividend Fund |
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CURRENT TRUST / CORPORATION NAME | NEW TRUST / CORPORATION NAME |
Current Fund Name | New Fund Name |
DEUTSCHE INVESTMENT TRUST | DEUTSCHE DWS INVESTMENT TRUST |
Deutsche Capital Growth Fund | DWS Capital Growth Fund |
Deutsche Core Equity Fund | DWS Core Equity Fund |
Deutsche CROCI® U.S. Fund | DWS CROCI® U.S. Fund |
Deutsche Large Cap Focus Growth Fund | DWS Large Cap Focus Growth Fund |
Deutsche Small Cap Core Fund | DWS Small Cap Core Fund |
Deutsche Small Cap Growth Fund | DWS Small Cap Growth Fund |
DEUTSCHE INVESTMENTS VIT FUNDS | DEUTSCHE DWS INVESTMENTS VIT FUNDS |
Deutsche Equity 500 Index VIP | DWS Equity 500 Index VIP |
Deutsche Small Cap Index VIP | DWS Small Cap Index VIP |
DEUTSCHE MARKET TRUST | DEUTSCHE DWS MARKET TRUST |
Deutsche Global Income Builder Fund | DWS Global Income Builder Fund |
Deutsche Real Assets Fund | DWS RREEF Real Assets Fund |
DEUTSCHE MONEY FUNDS | DEUTSCHE DWS MONEY FUNDS |
Deutsche Money Market Prime Series | DWS Money Market Prime Series |
Class Names: Deutsche Cash Investment Trust Class A |
Class Names: DWS Cash Investment Trust Class A |
Deutsche Cash Investment Trust Class C | DWS Cash Investment Trust Class C |
Deutsche Cash Investment Trust Class S | DWS Cash Investment Trust Class S |
Deutsche Money Market Fund | DWS Money Market Fund |
DEUTSCHE MUNICIPAL TRUST | DEUTSCHE DWS MUNICIPAL TRUST |
Deutsche Managed Municipal Bond Fund | DWS Managed Municipal Bond Fund |
Deutsche Short-Term Municipal Bond Fund | DWS Short-Term Municipal Bond Fund |
Deutsche Strategic High Yield Tax-Free Fund | DWS Strategic High Yield Tax-Free Fund |
DEUTSCHE PORTFOLIO TRUST | DEUTSCHE DWS PORTFOLIO TRUST |
Deutsche Floating Rate Fund | DWS Floating Rate Fund |
Deutsche Total Return Bond Fund | DWS Total Return Bond Fund |
DEUTSCHE SECURITIES TRUST | DEUTSCHE DWS SECURITIES TRUST |
Deutsche Communications Fund | DWS Communications Fund |
Deutsche CROCI® Sector Opportunities Fund | DWS CROCI® Sector Opportunities Fund |
Deutsche Enhanced Commodity Strategy Fund | DWS Enhanced Commodity Strategy Fund |
Deutsche Global Real Estate Securities Fund | DWS RREEF Global Real Estate Securities Fund |
Deutsche Health and Wellness Fund | DWS Health and Wellness Fund |
Deutsche MLP & Energy Infrastructure Fund | DWS RREEF MLP & Energy Infrastructure Fund |
Deutsche Real Estate Securities Fund | DWS RREEF Real Estate Securities Fund |
Deutsche Science and Technology Fund | DWS Science and Technology Fund |
DEUTSCHE STATE TAX-FREE INCOME SERIES | DEUTSCHE DWS STATE TAX-FREE INCOME SERIES |
Deutsche California Tax-Free Income Fund | DWS California Tax-Free Income Fund |
Deutsche Massachusetts Tax-Free Fund | DWS Massachusetts Tax-Free Fund |
Deutsche New York Tax-Free Income Fund | DWS New York Tax-Free Income Fund |
DEUTSCHE TAX FREE TRUST | DEUTSCHE DWS TAX FREE TRUST |
Deutsche Intermediate Tax/AMT Free Fund | DWS Intermediate Tax/AMT Free Fund |
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CURRENT TRUST / CORPORATION NAME | NEW TRUST / CORPORATION NAME |
Current Fund Name | New Fund Name |
DEUTSCHE VALUE SERIES, INC. | DEUTSCHE DWS VALUE SERIES, INC. |
Deutsche CROCI® Equity Dividend Fund | DWS CROCI® Equity Dividend Fund |
Deutsche Mid Cap Value Fund | DWS Mid Cap Value Fund |
DEUTSCHE VARIABLE SERIES I | DEUTSCHE DWS VARIABLE SERIES I |
Deutsche Bond VIP | DWS Bond VIP |
Deutsche Capital Growth VIP | DWS Capital Growth VIP |
Deutsche Core Equity VIP | DWS Core Equity VIP |
Deutsche CROCI® International VIP | DWS CROCI® International VIP |
Deutsche Global Small Cap VIP | DWS Global Small Cap VIP |
DEUTSCHE VARIABLE SERIES II | DEUTSCHE DWS VARIABLE SERIES II |
Deutsche Alternative Asset Allocation VIP | DWS Alternative Asset Allocation VIP |
Deutsche CROCI® U.S. VIP | DWS CROCI® U.S. VIP |
Deutsche Global Equity VIP | DWS Global Equity VIP |
Deutsche Global Income Builder VIP | DWS Global Income Builder VIP |
Deutsche Government & Agency Securities VIP | DWS Government & Agency Securities VIP |
Deutsche Government Money Market VIP | DWS Government Money Market VIP |
Deutsche High Income VIP | DWS High Income VIP |
Deutsche International Growth VIP | DWS International Growth VIP |
Deutsche Multisector Income VIP | DWS Multisector Income VIP |
Deutsche Small Mid Cap Growth VIP | DWS Small Mid Cap Growth VIP |
Deutsche Small Mid Cap Value VIP | DWS Small Mid Cap Value VIP |
In addition, Deutsche AM Trust Company will be renamed to DWS Trust Company.
Under a separate agreement, Deutsche Asset Management Investment GmbH has granted a license to DWS Group GmbH & Co. KGaA which permits the funds to utilize the “DWS” trademark.
Please Retain This Supplement for Future Reference
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