DWS Institutional Semiannual Report 2014

Transcription

1 Deutsche Asset & Wealth Management DWS Institutional Semiannual Report 2014 n DWS Institutional Money plus n DWS Institutional USD Money plus n DWS Institutional Euro Short Duration Sovereign Fund (AAA) (until April 25, 2014) Investment Company with Variable Capital Incorporated under Luxembourg Law

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3 Contents Semiannual report 2014 for the period from January 1, 2014, through June 30, 2014 General information Semiannual report DWS Institutional SICAV DWS Institutional Money plus 4 DWS Institutional USD Money plus 5 DWS Institutional Euro Short Duration Sovereign Fund (AAA) (until April 25, 2014) 6 Investment portfolios for the reporting period 8 1

4 General information The funds described in this report are sub-funds of a SICAV (Société d Investissement à Capital Variable) incorporated under Luxembourg law. Performance The investment return, or performance, of a mutual fund investment is measured by the change in value of the fund s shares. The net asset values per share (= redemption prices) with the addition of intervening distributions, which are, for example, reinvested free of charge within the scope of investment accounts at DWS, are used as the basis for calculating the value. Past performance is not a guide to future results. The corresponding benchmarks if available are also presented in the report. All financial data in this publication is as of June 30, 2014 (unless otherwise stated). Sales prospectuses Fund shares are purchased on the basis of the current sales prospectus, the key investor information document and the articles of incorporation and by-laws of the SICAV, in combination with the latest audited annual report and any semiannual report that is more recent than the latest annual report. Issue and redemption prices The current issue and redemption prices and all other information for shareholders may be requested at any time at the registered office of the Management Company and from the paying agents. In addition, the issue and redemption prices are published in every country of distribution through appropriate media (such as the Internet, electronic information systems, newspapers, etc.). As of August 29, 2013 (date of registration in the Commercial Register), Deutsche Asset Management Investmentgesellschaft mbh was merged with DWS Investment GmbH and was renamed Deutsche Asset & Wealth Management Investment GmbH (abbreviated: DeAWM Investment GmbH). Effective April 25, 2014, the sub-fund DWS Institutional Euro Short Duration Sovereign Fund (AAA) was incorporated into the share class IC of the sub-fund DWS Institutional Money plus. The exchange factor for the sub-fund DWS Institutional Euro Short Duration Sovereign Fund (AAA) was The issue and redemption of shares in the sub-fund was suspended on April 18,

5 Semiannual report

6 DWS Institutional Money plus Performance of share classes vs. benchmark (in euro) Share class ISIN 6 months Class IC LU % Class ID BA LU % 1M EUR LIBID + 5bp 0.1% BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INSTITUTIONAL MONEY PLUS Composition Bonds* Time deposit Investment funds Cash and other assets In % of the fund s net assets (* incl. pro-rata accrued interest) As of: June 30,

7 DWS Institutional USD Money plus DWS INSTITUTIONAL USD MONEY PLUS vs. benchmark Performance at a glance in % months DWS Institutional USD Money plus 1M USD LIBID + 5bp Data in U.S. dollars BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INSTITUTIONAL USD MONEY PLUS Rating distribution of the bonds in the portfolio* AAA AA A BB No rating In % of the fund s net assets in bonds (incl. pro-rata accrued interest) * Average values based primarily on ratings by Standard & Poor's, Moody's and Fitch AAA AA A BBB Extremely strong capacity to pay interest and repay principal Very strong capacity to pay interest and repay principal Strong capacity to pay interest and repay principal Adequate capacity to pay interest and repay principal. Adverse economic or sector-specific conditions are more likely to lead to a weakened capacity to pay interest and repay principal. BB to B CCC and lower Credit quality is adequate, with higher business and financial risk. Interest and principal payments are generally made without adverse effect on credit quality. The non-investment-grade rating is consistent with the company s business model. The rating is not consistent with the company s longterm business model. The capacity to pay interest and repay principal is potentially reduced in the long term. Security code: ISIN: LU As of: June 30, 2014 DWS INSTITUTIONAL USD MONEY PLUS Composition Bonds* Cash and other assets In % of the fund s net assets (* incl. pro-rata accrued interest) As of: June 30,

8 DWS Institutional Euro Short Duration Sovereign Fund (AAA) DWS INSTITUTIONAL EURO SHORT DURATION SOVEREIGN FUND (AAA) vs. benchmark Performance at a glance in % Since beginning of fiscal year DWS Institutional Euro Short Duration Sovereign Fund (AAA) ML EMU Direct Governments AAA Rat. 1-3Y Data on euro basis Security code: DWS 0WP ISIN: LU BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: April 25,

9 The format used for complete dates in securities descriptions in the investment portfolio is day/month/year. Investment portfolios for the reporting period

10 DWS Institutional Money plus Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Total market Description currency principal additions disposals Market price value in ( / 000) amount in the reporting period EUR % of net assets Securities traded on an exchange Interest-bearing securities % ABN AMRO Bank 13/ MTN (XS )... EUR % % ABN AMRO Bank 13/ MTN (XS )... EUR % % ABN AMRO Bank 13/ MTN (XS )... EUR % % Air Liquide Finance 13/ MTN (FR )... EUR % % ANZ New Zealand (Intl.) (London Br.) 14/ (XS ) EUR % % ART Five /TAP SA 06/ S.100 (XS )... EUR % % Atlantes Mortgage No.1 03/ Cl.A (XS )... EUR % % Bacchus / CI.A1 (XS )... EUR % % Bank of Montreal 13/ MTN (XS )... EUR % % Bank of Nova Scotia 13/ MTN (XS )... EUR % % Bank of Nova Scotia 14/ MTN (XS )... EUR % % Banque Fédérative Crédit Mut. 12/ MTN (XS )... EUR % % Banque Fédérative Crédit Mut. 13/ MTN (XS )... EUR % % Barclays Bank 14/ MTN (XS )... EUR % % BASF 13/ MTN (XS )... EUR % % Bayer 14/ MTN (XS )... EUR % % Bayerische Landesbank 04/ (XS )... EUR % % Belfius Bank 13/ MTN (BE )... EUR % % Belfius Bank 14/ MTN (BE )... EUR % % BMW Finance 13/ MTN (XS )... EUR % % BMW Finance 13/ MTN (XS )... EUR % % BNP Paribas 12/ MTN (XS )... EUR % % BNP Paribas 13/ MTN (XS ) 3... EUR % % BNP Paribas 13/ MTN (XS )... EUR % % BPCE 12/ MTN (FR )... EUR % % BPCE 13/ MTN (FR )... EUR % % BPCE 13/ MTN (FR )... EUR % % BPCE 13/ MTN (FR )... EUR % % BPCE 13/ MTN (FR ) 3. EUR % % Bpifrance 13/ MTN (FR ). EUR % % Bpifrance Finance 14/ MTN (FR )... EUR % % Cie. Financement Foncier 13/ MTN PF (FR ) 3... EUR % % CLASS/BVV 05/ S.173 MTN (XS )... EUR % % CM-CIC Home Loan 14/ MTN PF (FR )... EUR % % Commonwealth Bank Australia 13/ MTN (XS ) 3... EUR % % Crédit Agricole (London Br.) 13/ MTN (FR )... EUR % % Crédit Agricole (London Br.) 13/ MTN (XS )... EUR % % Crédit Agricole (London Br.) 14/ MTN (XS )... EUR % % Daimler Canada Finance 14/ MTN (DE000A1ZB177)... EUR % % Danske Bank 13/ MTN (XS )... EUR % % Danske Bank 14/ MTN (XS )... EUR %

11 DWS Institutional Money plus Count/ Quantity/ Purchases/ Sales/ Total market Description currency principal additions disposals Market price value in ( / 000) amount in the reporting period EUR % of net assets % DekaBank DGZ 04/ S.103 IHS MTN (XS )... EUR % % DekaBank DGZ 04/ (DE000DK3YWR4)... EUR % % Deutsche Hypothekenbank 09/ S.208 MTN ÖPF (DE000DHY2089)... EUR % % Deutsche Hypothekenbank 12/ HPF S.378 MTN (DE000DHY3780)... EUR % % Deutsche Pfandbriefbank 05/ S.981 MTN ÖPF (DE000A0E9LD2)... EUR % % Dexia Crédit Local 13/ MTN (XS )... EUR % % Dexia Crédit Local 13/ MTN (XS )... EUR % % Dexia Crédit Local 14/ MTN (XS )... EUR % % DNB Boligkreditt 11/ MTN PF (XS )... EUR % % Dt. Apothek. u. Ärztebk. 13/ MTN (XS )... EUR % % DZ BANK 12/ S.C13 IHS MTN (DE000DZ9VAF1)... EUR % % EARLS Eight /BVV 05/ S.190 MTN (XS )... EUR % % Finland 09/ (FI )... EUR % % France 14/ (FR ) 3... EUR % % France B.T.F. 13/ (FR ) 3... EUR % % France B.T.F. 13/ (FR ) 3... EUR % % France B.T.F. 14/ (FR ) 3... EUR % % GE Capital European Funding 13/ MTN (XS )... EUR % % Germany 12/ BSA (DE ). EUR % % Germany 14/ (DE ) 3... EUR % % Germany 14/ (DE ) 3... EUR % % Granite Master Issuer 05/ S.2 Cl.A5 (XS )... EUR % % HSBC Bank 13/ MTN (XS )... EUR % % HSBC France 14/ MTN (FR )... EUR % % HSH N Finance (Guernsey) 03/ MTN (XS )... EUR % % HSH Nordbank 01/ MTN (XS )... EUR % % HSH Nordbank 03/ MTN S.314 Tr.1 (XS )... EUR % % HSH Nordbank 04/ E IHS (DE000HSH0EM9)... EUR % % HSH Nordbank 05/ (DE000HSH0GG6)... EUR % % HSH Nordbank 05/ E IHS (DE000HSH1LW1)... EUR % % Hypo Alpe-Adria Bank Int. 07/ MTN (XS ) 3... EUR % % HYPO NOE Gruppe Bank 13/ MTN (XS )... EUR % % Hypo.bank Frankfurt 10/ E.2415 MTN ÖPF (DE000EH1AAR8)... EUR % % HYPO-BANK BURGENLAND 00/ (AT )... EUR % % HYPO-BANK BURGENLAND 06/ S.P (AT0000A01245)... EUR % % IKB Deutsche Industriebank 07/ MTN (XS )... EUR % % ING Bank 13/ MTN (XS ) 3... EUR % % ING Bank 13/ MTN (XS )... EUR % % ING Bank 13/ MTN (XS )... EUR % % La Banque Postale 14/ MTN (FR )... EUR % % La Banque Postale 14/ MTN (FR )... EUR %

12 DWS Institutional Money plus Count/ Quantity/ Purchases/ Sales/ Total market Description currency principal additions disposals Market price value in ( / 000) amount in the reporting period EUR % of net assets % Landesbank Baden-Württemberg 04/ MTN (XS )... EUR % % Landesbank Saar 04/ S.248 (DE )... EUR % % LB Baden-Württemberg 01/ S.14 MTN (XS )... EUR % % LB Baden-Württemberg 04/ MTN (XS )... EUR % % LB Baden-Württemberg 05/ R.61 IHS (DE000A0BU154)... EUR % % LB Baden-Württemberg 05/ E.265 IHS (DE000LBW3F70)... EUR % % LB Baden-Württemberg 05/ R.63 IHS (DE000A0EPNH6)... EUR % % LBBW Dublin Management 05/ MTN (XS )... EUR % % LfA Förderbank Bayern 07/ R.1001 IHS (DE000LFA0018) 3... EUR % % Lloyds Bank 13/ MTN (XS )... EUR % % Lloyds Bank 13/ MTN (XS )... EUR % % Lloyds Bank 13/ MTN (XS )... EUR % % Macquarie Bank 13/ MTN (XS )... EUR % % MAN 13/ MTN (XS )... EUR % % Münchener Hypothekenbk. 13/ S.1630 IHS MTN (DE000MHB9213)... EUR % % Nederlandse Waterschapsbank 11/ MTN (XS )... EUR % % Netherlands 14/ (NL ) 3 EUR % % Netherlands 14/ (NL ) 3.. EUR % % Nord/LB Covered Finance Bank 08/ MTN PF (XS )... EUR % % Norddt. Landesbank 07/ S.1237 ÖPF (DE000NLB24A3)... EUR % % Nordea Bank 13/ MTN (XS )... EUR % % Nordea Bank 13/ MTN (XS )... EUR % % Nykredit Realkredit 13/ S.20D PF (LU )... EUR % % Pohjola Pankki 12/ MTN (XS ) 3... EUR % % QNB Finance 13/ MTN (XS )... EUR % % QNB Finance 13/ MTN (XS )... EUR % % Rabobank 09/ MTN (XS )... EUR % % Rabobank 13/ MTN (XS )... EUR % % Rabobank 13/ MTN (XS ) 3... EUR % % Rabobank 13/ MTN (XS )... EUR % % Rabobank 14/ MTN (XS )... EUR % % Santander Consumer Finance 13/ MTN (XS )... EUR % % SBAB Bank 13/ MTN (XS )... EUR % % Skandinaviska Enskilda Banken 13/ MTN (XS )... EUR % % Société Générale 13/ MTN (XS )... EUR % % Societe Generale 13/ MTN (XS )... EUR % % Standard Chartered Bank 13/ MTN Reg S (XS )... EUR % % Suncorp-Metway 13/ MTN (XS )... EUR % % Swedbank 13/ MTN (XS )... EUR % % Toyota Finance Australia 13/ MTN (XS )... EUR %

13 DWS Institutional Money plus Count/ Quantity/ Purchases/ Sales/ Total market Description currency principal additions disposals Market price value in ( / 000) amount in the reporting period EUR % of net assets % Volkswagen Leasing 13/ MTN (XS )... EUR % % Westpac Banking 13/ MTN (XS )... EUR % % Westpac Banking 14/ MTN (XS ) 3... EUR % % ART Five /DB CapFT 09/und. S.183 MTN (XS )... USD % % CLASS/DB CapFT 09/und. MTN (XS )... USD % % EARLS Eight /DB CapFT 09/ S.496 CLN (XS ) USD % % HSH Nordbank 05/ IHS (DE000HSH0G91)... USD % % Regal Ser.31/DB Capital Trust 09/ MTN (XS )... USD % % Regal Ser.32/DB Capital Trust 10/ MTN (XS )... USD % % Regal/DB Bank Capital 99/ MTN S.17 (XS )... USD % % Royal Bank of Scotland 05/ (XS )... USD % % Royal Bank of Scotland 05/ MTN (XS )... USD % % Royal Bank of Scotland 06/ MTN (XS )... USD % % BW Bank Capital Funding Trust I 99/und. S.1 (USU )... Count EUR Unlisted securities Interest-bearing securities % Tagus S. T. C. 06/ S.Altis 1 Cl.A (XS )... EUR % Investment fund units In-group fund units DWS Invest European Bonds FC (LU ) (0.500%+)... Count EUR DWS Invest Global GDP Bonds FC (LU ) (0.500%)... Count EUR Total securities portfolio Derivatives Minus signs denote short positions Currency derivatives Currency futures (short) Open positions USD/EUR million Swaps Credit default swaps Protection seller Deutsche Telekom / 25 BP (CIT) SELL (OTC).. EUR LB Bad.-Württemberg / 25 BP (BNP) SELL (OTC)... EUR Cash at bank Demand deposits at Custodian EUR deposits... EUR % Deposits in other EU/EEA currencies... EUR %

14 DWS Institutional Money plus Count/ Quantity/ Purchases/ Sales/ Total market Description currency principal additions disposals Market price value in ( / 000) amount in the reporting period EUR % of net assets Deposits in non-eu/eea currencies Japanese yen... JPY % U.S. dollar.... USD % Time deposit EUR deposits (HSH Nordbank AG, Hamburg).... EUR % EUR deposits (Dexia Credit Local, Paris)... EUR % EUR deposits (Deutsche Bank S.P.A., Milan).... EUR % Other assets Interest receivable... EUR % Withholding tax claims... EUR % Other receivables... EUR % Total assets Other liabilities Liabilities from cost items.... EUR % Additional other liabilities.... EUR % Net assets Net asset value per share and Count/ Net asset value per share number of shares outstanding currency in the respective currency Net asset value per share Class IC.... EUR Class ID BA.... EUR Number of shares outstanding Class IC.... Count Class ID BA.... Count Negligible rounding errors may have arisen due to the rounding of calculated percentages. Market abbreviations Futures exchanges OTC = Over the Counter Exchange rates (indirect quotes) As of June 30, 2014 Japanese yen... JPY = EUR 1 U.S. dollar.... USD = EUR 1 Notes on the valuation Under the responsibility of the Board of Directors of the SICAV, the Management Company determines the net asset values per share and performs the valuation of the assets of the fund. The basic provision of price data and price validation are performed in accordance with the method introduced by the Board of Directors of the SICAV on the basis of the legal and regulatory requirements or the principles for valuation methods defined in the SICAV s prospectus. If no trading prices are available, prices are determined with the aid of valuation models (derived market values) which are agreed between State Street Bank Luxembourg as external price service provider and the Management Company and which are based as far as possible on market parameters. This procedure is subject to an ongoing monitoring process. The plausibility of price information from third parties is checked through other pricing sources, model calculations or other suitable procedure. Some investments reported in this report are valued at derived market values. The management fee/all-in fee rates in effect as of the reporting date for the investment fund units held in the securities portfolio are shown in parentheses. A plus sign means that a performance-based fee may also be charged. As the fund held units of other investment funds (target funds) during the period under review, further costs, charges and fees may have been incurred at the level of these individual target funds. No initial sales charges or redemption fees were paid during the period under review. 12

15 DWS Institutional Money plus Footnotes 1 Does not include positions with a negative balance, if such exist. 3 These securities were completely or partly transferred under securities loans. The equivalent value of the lent securities is EUR 487,164, Transactions completed during the reporting period that no longer appear in the investment portfolio Purchases and sales of securities, investment fund units and promissory note loans (Schuldscheindarlehen); market classifications are as of the reporting date Description Count/ currency ( / 000) Purchases/ additions Sales/ disposals Description Count currency ( / 000) Purchases/ additions Sales/ disposals Securities traded on an exchange Interest-bearing securities % Austria 04/ MTN 144a (AT )... EUR % Austria 09/ (AT0000A0CL73).. EUR % Banque Fédérative Crédit Mut. 13/ MTN (XS )... EUR % Bayerische Landesbank 04/ IHS (XS )... EUR % Berlin 09/ A.287 LSA (DE000A1A6MZ2)... EUR % BNP Paribas 11/ MTN (XS )... EUR % BPCE 12/ MTN (FR )... EUR % BPCE SFH 12/ MTN PF (FR )... EUR % Caisse Amortism. Dette Soc. 11/ MTN (XS )... EUR % Chapel 03/ S.1 Cl.A (XS )... EUR % Cie. Financement Foncier 07/ MTN PF (FR )... EUR % CM-CIC Home Loan 12/ MTN PF (FR )... EUR % Coriolanus/CART 1 07/ MTN (XS )... EUR % Danske Bank 12/ MTN (XS )... EUR % DekaBank DGZ 03/ Tr.26 IHS MTN (XS )... EUR % DekaBank DGZ 04/ S.66 IHS MTN (XS )... EUR % DekaBank DGZ 04/ S.61 IHS MTN (XS )... EUR % Dexia Crèdit Local 13/ MTN (XS )... EUR % DZ BANK 12/ E.8131 IHS (DE000DZ1JH23)... EUR % Erste Group Bank 07/ MTN (XS )... EUR % Erste Group Bank 12/ MTN PF (XS )... EUR % European Investment Bank 09/ MTN (XS )... EUR % Finland 04/ (FI )... EUR % France 14/ (FR )... EUR % France B.T.F. 13/ (FR )... EUR % France B.T.F. 13/ (FR )... EUR % France B.T.F. 13/ (FR )... EUR % France B.T.F. 13/ (FR )... EUR % France B.T.F. 14/ (FR )... EUR % France B.T.F. 14/ (FR )... EUR % France B.T.F. 14/ (FR )... EUR % France B.T.F. 17/ (FR )... EUR % Germany 05/ (DE ). EUR % Germany 06/ (DE ). EUR % Germany 06/ (DE ). EUR % Germany 10/ S.158 (DE )... EUR % Germany 10/ S.156 (DE )... EUR % Germany 11/ S.161 (DE )... EUR % Germany 12/ S.162 (DE )... EUR % Germany 13/ (DE ). EUR % Germany 13/ (DE ). EUR % Germany 13/ (DE ). EUR % HSBC Bank 12/ MTN (XS )... EUR % La Banque Postale 12/ MTN (FR )... EUR % LB Baden-Württemberg 04/ (DE000A0A3KC3)... EUR % LB Baden-Württemberg 04/ S.216 IHS MTN (XS )... EUR % LB Baden-Württemberg 05/ S.256 IHS MTN (XS )... EUR % LB Baden-Württemberg 05/ R.313 IHS (DE000LBW4H10)... EUR % LB Hessen-Thüringen 04/ S.H131 IHS MTN (XS )... EUR % Münchener Hypothekenbk. 12/ S.1522 IHS MTN (DE000MHB8363)... EUR % Nationwide Building Society 12/ MTN (XS )... EUR % Netherlands 12/ (NL )... EUR % Netherlands 13/ (NL )... EUR % Netherlands 13/ (NL )... EUR % Netherlands 13/ (NL )... EUR % Netherlands 13/ (NL )... EUR % Netherlands 13/ (NL )... EUR % Norddt. Landesbank 04/ IHS MTN (XS )... EUR % Nordrhein-Westfalen 12/ MTN LSA (DE000NRW0D02)... EUR % NRW.BANK 12/ A.14Y IHS (DE000NWB14Y1)... EUR % Pohjola Pankki 12/ MTN (XS )... EUR % Standard Chartered Bank 12/ MTN (XS )... EUR % Svenska Handelsbanken 12/ MTN (XS )... EUR % Vodafone Group 07/ MTN (XS )... EUR % Volkswagen Financial Services 12/ MTN (XS )... EUR % Volkswagen Int. Finance 12/ MTN (XS )... EUR % WL BANK 12/ R.257 IHS MTN (DE000A1REV11)... EUR

16 DWS Institutional Money plus Derivatives (option premiums realized in opening transactions, or total options transactions; in the case of warrants, purchases and sales are shown) Futures contracts Currency futures Value ( 000) Futures contracts to purchase currencies USD/EUR EUR Futures contracts to sell currencies USD/EUR EUR Swaps (total amount of opening transactions) Credit default swaps Protection seller EUR (Underlyings: Santander Int. Debt / 25 BP (BNP) SELL) Securities loans (total transactions, at the value agreed at the closing of the loan contract) Value ( 000) Perpetual EUR Security description: % Bank of Montreal 13/ MTN (XS ), % Banque Fédérative Crédit Mut. 13/ MTN (XS ), % Banque Fédérative Crédit Mut. 13/ MTN (XS ), % Bayerische Landesbank 04/ IHS (XS ), % Berlin 09/ A.287 LSA (DE000A1A6MZ2), % BMW Finance 13/ MTN (XS ), % BMW Finance 13/ MTN (XS ), % BNP Paribas 11/ MTN (XS ), % BNP Paribas 12/ MTN (XS ), % BNP Paribas 13/ MTN (XS ), % BNP Paribas 13/ MTN (XS ), % BPCE 12/ MTN (FR ), % BPCE 13/ MTN (FR ), % BPCE 13/ MTN (FR ), % BPCE 13/ MTN (FR ), % BPCE 13/ MTN (FR ), % Cie. Financement Foncier 07/ MTN PF (FR ), % Cie. Financement Foncier 13/ MTN PF (FR ), % CM-CIC Home Loan 12/ MTN PF (FR ), % Commonwealth Bank Australia 13/ MTN (XS ), % Crédit Agricole (London Br.) 13/ MTN (FR ), % Crédit Agricole (London Br.) 13/ MTN (XS ), % Crédit Agricole (London Br.) 14/ MTN (XS ), % DekaBank DGZ 03/ Tr.26 IHS MTN (XS ), % DekaBank DGZ 04/ S.66 IHS MTN (XS ), % DekaBank DGZ 04/ S.61 IHS MTN (XS ), % DekaBank DGZ 04/ (DE000DK3YWR4), % Deutsche Hypothekenbank 09/ S.208 MTN ÖPF (DE000DHY2089), % Deutsche Hypothekenbank 12/ HPF S.378 MTN (DE000DHY3780), % Deutsche Pfandbriefbank 05/ S.981 MTN ÖPF (DE000A0E9LD2), % DNB Boligkreditt 11/ MTN PF (XS ), % Dt. Apothek. u. Ärztebk. 13/ MTN (XS ), % DZ BANK 12/ S.C13 IHS MTN (DE000DZ9VAF1), % DZ BANK 12/ E.8131 IHS (DE000DZ1JH23), % Erste Group Bank 07/ MTN (XS ), % Erste Group Bank 12/ MTN PF (XS ), % European Investment Bank 09/ MTN (XS ), % France 14/ (FR ), % France B.T.F. 13/ (FR ), % France B.T.F. 13/ (FR ), % France B.T.F. 13/ (FR ), Securities loans (total transactions, at the value agreed at the closing of the loan contract) Value ( 000) % France B.T.F. 13/ (FR ), % France B.T.F. 14/ (FR ), % France B.T.F. 14/ (FR ), % France B.T.F. 14/ (FR ), % France B.T.F. 17/ (FR ), % Germany 13/ (DE ), % Germany 13/ (DE ), % Germany 13/ (DE ), % HSBC Bank 12/ MTN (XS ), % HSBC Bank 13/ MTN (XS ), % HSH Nordbank 03/ MTN S.314 Tr.1 (XS ), % HSH Nordbank 04/ E IHS (DE000HSH0EM9), % Hypobank Frankfurt 10/ E.2415 MTN ÖPF (DE000EH1AAR8), % IKB Deutsche Industriebank 07/ MTN (XS ), % ING Bank 13/ MTN (XS ), % Landesbank Baden- Württemberg 04/ MTN (XS ), % LB Baden-Württemberg 04/ (DE000A0A3KC3), % LB Baden-Württemberg 04/ S.216 IHS MTN (XS ), % LB Baden-Württemberg 05/ E.265 IHS (DE000LBW3F70), % LB Hessen-Thüringen 04/ S.H131 IHS MTN (XS ), % Lloyds Bank 13/ MTN (XS ), % Lloyds Bank 13/ MTN (XS ), % Nationwide Building Society 12/ MTN (XS ), % Nederlandse Waterschapsbank 11/ MTN (XS ), % Netherlands 13/ (NL ), % Netherlands 13/ (NL ), % Netherlands 13/ (NL ), % Netherlands 13/ (NL ), % Norddt. Landesbank 07/ S.1237 ÖPF (DE000NLB24A3), % Nordea Bank 13/ MTN (XS ), % Nordea Bank 13/ MTN (XS ), % Nordrhein- Westfalen 12/ MTN LSA (DE000NRW0D02), % NRW.BANK 12/ A.14Y IHS (DE000NWB14Y1), % Pohjola Pankki 12/ MTN (XS ), % Rabobank 13/ MTN (XS ), % Rabobank 13/ MTN (XS ), % Rabobank 13/ MTN (XS ), % Société Générale 13/ MTN (XS ), % Societe Generale 13/ MTN (XS ), % Standard Chartered Bank 12/ MTN (XS ), % Svenska Handelsbanken 12/ MTN (XS ), % Swedbank 13/ MTN (XS ), % Volkswagen Financial Services 12/ MTN (XS ), % Volkswagen Int. Finance 12/ MTN (XS ), % Volkswagen Leasing 13/ MTN (XS ), % Westpac Banking 14/ MTN (XS ), % Royal Bank of Scotland 06/ MTN (XS ) Securities repurchase agreements (total transactions, at the value agreed at the closing of the repurchase agreements) Value ( 000) Purchased under repurchase agreements EUR (Underlyings: Berlin 04/ A.190 LSA, Berlin 09/ A.264 LSA, Berlin 12/ A.367 LSA, Brandenburg 05/ LSA, European Investment Bank 04/ MTN, European Investment Bank 09/ MTN, European Investment Bank 09/ MTN, European Investment Bank 09/ MTN, European Investment Bank 10/ MTN, European Investment Bank 10/ MTN, European Investment Bank 10/ MTN, European Investment Bank 11/ MTN, European Investment Bank 12/ MTN, European Investment Bank 12/ MTN, European Investment Bank 12/ MTN, European Investment Bank 12/ MTN, European Investment Bank 12/ MTN, European Investment Bank 12/ MTN, European Investment Bank 12/ MTN, European Investment Bank 13/ MTN, European Investment Bank 13/ MTN, European Investment Bank 13/ MTN, European Investment Bank 13/ , Eurpoean Investment Bank 11/ MTN, 14

17 DWS Institutional Money plus Securities repurchase agreements (total transactions, at the value agreed at the closing of the repurchase agreements) Value ( 000) Finland 04/ , Finland 08/ , Finland 09/ , Finland 09/ , Finland 10/ , Finland 10/ , Finland 11/ , Finland 11/ , Finland 12/ , Finland 13/ MTN, Finland 1 3/ , Germany 00/ , Germany 00/ , Germany 00/ Coupons, Germany 00/ Coupons, Germany 03/ Coupons, Germany 04/ , Germany 05/ , Germany 05/ Coupons, Germany 05/ Coupons, Germany 05/ , Germany 06/ , Germany 06/ , Germany 06/ INFL, Germany 07/ , Germany 08/ , Germany 09/ , Germany 09/ INFL, Germany 10/ , Germany 10/ , Germany 10/ , Germany 10/ S.158, Germany 10/ S.156, Germany 11/ S.160, Germany 11/ S.161, Germany 11/ INFL, Germany 12/ S.164, Germany 12/ INFL, Germany 12/ S.162, Germany 13/ , Germany 13/ BSA, Germany 13/ S.167, Germany 13/ , Germany 13/ , Germany 13/ , Germany 97/ Coupons, Germany 97/ Coupons, Germany 97/ Coupons, Germany 97/ Coupons, Germany 98/ Coupons, Hessen 03/ S.2 LSA, Hessen 04/ S.4 LSA, Hessen 05/ S.1 LSA, Hessen 10/ LSA, Hessen 12/ S.2 LSA, KfW 04/ , KfW 05/ , KfW 06/ , KfW 07/ , KfW 07/ , KfW 10/ MTN, KfW 10/ , KfW 10/ , KfW 10/ , KfW 11/ , KfW 11/ IHS, KfW 11/ , KfW 11/ Reg S, KfW 11/ , KfW 12/ , KfW 12/ , KfW 12/ MTN, KfW 12/ , KfW 12/ , KfW 13/ , KfW 13/ , KfW 13/ MTN, KfW 13/ , KfW 13/ , KfW 98/ R.213 IHS, L-Bank B-W Förderbank 06/ S.5165 MTN, L-Bank B-W Förderbank 10/ S.5282 MTN, L-Bank B-W-Förderbank 11/ S.5327 MTN, Landwirtsch. Rentenbank 07/ S.893 MTN, Landwirtsch. Rentenbank 10/ S.1013 MTN, Landwirtsch. Rentenbank 13/ S.1085 MTN, Luxembourg 01/ , Luxembourg 13/ , Netherlands 04/ , Netherlands 05/ Coupons, Netherlands 05/ Coupons, Netherlands 05/ Coupons, Netherlands 05/ Coupons, Netherlands 06/ , Netherlands 07/ , Netherlands 08/ , Netherlands 09/ , Netherlands 09/ , Netherlands 11/ , Netherlands 11/ , Netherlands 12/ , Netherlands 12/ , Netherlands 12/ , Netherlands 13/ , Netherlands 13/ , Netherlands Coupons, Netherlands Coupons, Netherlands 92/ Strip S.JA23, Netherlands 98/ Coupons, Niedersachsen 11/ A.213 LSA, Nordrhein-Westfalen 05/ LSA R.700, Nordrhein-Westfalen 07/ LSA R.776, Nordrhein-Westfalen 07/ LSA R.819, Nordrhein-Westfalen 07/ R.790 LSA, Nordrhein- Westfalen 10/ R.1025 LSA, Nordrhein-Westfalen 11/ , Nordrhein-Westfalen 12/ R.1225 LSA, Nordrhein-Westfalen 12/ MTN LSA, Nordrhein- Westfalen 13/ R.1229 LSA, Rheinland-Pfalz 04/ LSA) 15

18 DWS Institutional USD Money plus Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Total market Description currency principal additions disposals Market price value in ( / 000) amount in the reporting period USD % of net assets Securities traded on an exchange Interest-bearing securities % ABN AMRO Bank 13/ MTN (XS )... EUR % % Banque Fédérative Credit Mut. 13/ MTN (XS )... EUR % % Bayer 14/ MTN (XS )... EUR % % BMW Finance 09/ MTN (XS )... EUR % % BPCE 13/ MTN (FR )... EUR % % Crédit Agricole (London Br.) 12/ MTN (XS )... EUR % % Credit Suisse (London Branch) 14/ MTN (XS )... EUR % % HSBC France 14/ MTN (FR )... EUR % % KBC Ifima 10/ MTN (XS )... EUR % % Pohjola Pankki 12/ MTN (XS )... EUR % % QNB Finance 13/ MTN (XS )... EUR % % Volkswagen Leasing 13/ MTN (XS )... EUR % % A.N.Z. Banking Group 12/ MTN Reg S PF (US05252FAC41)... USD % % ANZ New Zealand (Int.) 08/ MTN (XS )... USD % % Barclays Bank 09/ (US06739FFZ99)... USD % % Bayerische Landesbank 12/ PF (XS )... USD % % BP Capital Markets 13/ (US05565QCL05)... USD % % Caisse des Dépôts et Consignations 09/ MTN (FR )... USD % % Caisse des Depots et Consignations 13/ MTN (FR )... USD % % Daimler Finance North America 11/ Reg S (USU2339CAQ16)... USD % % Dexia Crédit Local (NY Br.) 13/ MTN Reg S (US25215DAC39).. USD % % Erste Abwicklungsanstalt 12/ MTN (XS )... USD % % Erste Abwicklungsanstalt 14/ MTN (XS )... USD % % General Electric Capital 14/ MTN (US36962G7E87)... USD % % HSH Nordbank 05/ IHS (DE000HSH0G91)... USD % % Inter-American Investment 12/ MTN (XS )... USD % % Nederlandse Financierings-Maat 12/ MTN (XS )... USD % % Nederlandse Waterschapsbank 13/ MTN Reg S (XS )... USD % % Nordrhein-Westfalen 10/ R.1061 MTN LSA (DE000NRW0AR0)... USD % % Regal/DB Bank Capital 99/ MTN S.17 (XS )... USD % % Royal Bank of Scotland 05/ (XS )... USD % % Swedbank Hypotek 12/ MTN PF (XS )... USD % Securities admitted to or included in organized markets Interest-bearing securities % Bank of Montreal 13/ (US06367VHK44)... USD % % Barclays Bank 10/ (US06739GBB41)... USD % % BNP Paribas/US MTN Program 10/ MTN (US05567LG684) USD %

19 DWS Institutional USD Money plus Count/ Quantity/ Purchases/ Sales/ Total market Description currency principal additions disposals Market price value in ( / 000) amount in the reporting period USD % of net assets % BNP Paribas/US MTN Program 11/ MTN (US05567L3Q81)... USD % % BPCE 13/ MTN (US05578DAA00).. USD % % Caisse ce. Desjardins Quebec 13/ MTN Reg S (US50248XAA28).. USD % % Crédit Agricole (London Br.) 13/ MTN Reg S (US22532MAG78). USD % % Crédit Agricole Home Loan SFH 11/ a PF (US22533LAB99)... USD % % Daimler Finance North America 13/ Reg S (USU2339CBA54)... USD % % General Electric Capital 13/ MTN (US36962G6T65) USD % % ING Bank 12/ Reg S (USN45780CS54)... USD % % ING Bank 13/ MTN (USN528AHAA40)... USD % % JPMorgan Chase 13/ MTN (US46623EJX85)... USD % % Nat. Australia Bank (NY Br.) 12/ MTN (US63254AAD00)... USD % % National Australia Bank 13/ MTN 144a (US63253WAC55)... USD % % Nordea Bank 14/ MTN 144a (US65557FAF36)... USD % % Rabobank 13/ MTN (US74977EPY31)... USD % % Royal Bank of Canada 11/ MTN (US78008TXB50) USD % % Svenska Handelsbanken 13/ MTN (US86960BAD47)... USD % % Toyota Motor Credit 13/ MTN (US89236TAG04)... USD % % Westpac Banking 12/ MTN 144a PF (US96122WAC47) USD % % Westpac Banking 12/ (US961214BX05)... USD % Unlisted securities Interest-bearing securities % ABN AMRO Bank (XS ). USD % % Allianz Tr.1467 (XS )... USD % % Belfius Financing (XS ). USD % % BNP Paribas (FR )..... USD % % Fonterra Co-Operative Group (XS )... USD % % Intesa Sanpaolo Bank Ireland (XS )... USD % % Mizuho Bank (London Branch) CD (XS )... USD % % Pohjola Bank (XS )... USD % % Standard Chartered Bank (XS )... USD % % Volkswagen Group America Finance 14/ Reg S (XS )... USD % Total securities portfolio Derivatives Minus signs denote short positions Currency derivatives Currency futures (short) Open positions EUR/USD million

20 DWS Institutional USD Money plus Count/ Quantity/ Purchases/ Sales/ Total market Description currency principal additions disposals Market price value in ( / 000) amount in the reporting period USD % of net assets Cash at bank Demand deposits at Custodian USD deposits... USD % Deposits in EU/EEA currencies.... USD % Other assets Interest receivable... USD % Total assets Other liabilities Liabilities from cost items.... USD % Additional other liabilities.... USD % Net assets Net asset value per share Number of shares outstanding Negligible rounding errors may have arisen due to the rounding of calculated percentages. Exchange rates (indirect quotes) As of June 30, 2014 Euro... EUR = USD 1 Notes on the valuation Under the responsibility of the Board of Directors of the SICAV, the Management Company determines the net asset values per share and performs the valuation of the assets of the fund. The basic provision of price data and price validation are performed in accordance with the method introduced by the Board of Directors of the SICAV on the basis of the legal and regulatory requirements or the principles for valuation methods defined in the SICAV s prospectus. If no trading prices are available, prices are determined with the aid of valuation models (derived market values) which are agreed between State Street Bank Luxembourg as external price service provider and the Management Company and which are based as far as possible on market parameters. This procedure is subject to an ongoing monitoring process. The plausibility of price information from third parties is checked through other pricing sources, model calculations or other suitable procedure. Investments reported in this report are valued to a small extent at derived market values. Footnotes 1 Does not include positions with a negative balance, if such exist. Transactions completed during the reporting period that no longer appear in the investment portfolio Purchases and sales of securities, investment fund units and promissory note loans (Schuldscheindarlehen); market classifications are as of the reporting date Description Count/ currency ( / 000) Purchases/ additions Sales/ disposals Description Count/ currency ( / 000) Purchases/ additions Sales/ disposals Securities traded on an exchange Interest-bearing securities % Chapel 03/ S.1 Cl.A (XS ).... EUR % Nationwide Building Society 12/ MTN (XS )... EUR % Volkswagen Bank 11/ MTN (XS )... EUR % Caisse Amortism. Dette Soc. 11/ MTN (FR )... USD % Cie. Financement Foncier 11/ MTN Reg S PF (XS ).... USD % Danske Bank 11/ MTN Reg S (US23636BAC37).... USD % Deutsche Bank 04/ MTN (XS )... USD % European Investment Bank 12/ MTN Reg S (XS ).... USD % HSBC Bank 11/ Reg S (USG4639DWA91).... USD

21 DWS Institutional USD Money plus Description Count/ currency ( / 000) Purchases/ additions Sales/ disposals Description Count/ currency ( / 000) Purchases/ additions Sales/ disposals % L-Bank B-W Förderbank 12/ S.5359 IHS MTN (XS )... USD % LB Baden-Württemberg 12/ S.743 MTN PF (DE000LB0PL65)... USD % Lloyds Bank 11/ (US539473AK43)... USD % Nordea Bank 11/ MTN (US65557DAD30)... USD % Oesterreichische Kontrollbank 12/ MTN (XS )... USD % Rabobank 12/ MTN (XS )... USD % Société Générale SCF 09/ MTN ÖPF (FR )... USD % Swedbank Hypotek 11/ MTN 144a PF (US87020LAB27)... USD % Vodafone Group 09/ (US92857WAT71)... USD Securities admitted to or included in organized markets Interest-bearing securities % ABN AMRO Bank 11/ MTN Reg S (XS )... USD % Barclays Bank 11/ (US06740P3N46)... USD % BNP Paribas 11/ MTN (US05567LS572)... USD % BPCE 11/ Reg S (USF11494AJ45)... USD % Goldman Sachs Group 11/ (US38143USB88)... USD % ING Bank 11/ Reg S (USN4578BPZ14)... USD % Intesa Sanpaolo 11/ MTN 144a (US46115HAC16)... USD % JPMorgan Chase 11/ MTN (US46623EJF79)... USD % Nordea Bank 11/ MTN Reg S (US65557DAC56)... USD % Société Générale 11/ MTN Reg S (US83368TAB44)... USD Unlisted securities Interest-bearing securities % Allianz (XS )... USD % Crédit Agricole (London Br.) 11/ MTN Reg S (US22532MAE21)... USD % Fonterra Co-Operative Group (XS )... USD % Münchener Hypothekenbk (DE000MHB4MC7)... USD % Pohjola Pankki (XS )... USD Derivatives (option premiums realized in opening transactions, or total options transactions; in the case of warrants, purchases and sales are shown) Futures contracts Currency futures Value ( 000) Futures contracts to sell currencies EUR/USD USD

22 Liquidation report DWS Institutional Euro Short Duration Sovereign Fund (AAA) Investment portfolio April 25, 2014 Count/ Quantity/ Purchases/ Sales/ Total market Description currency principal additions disposals Market price value in ( / 000) amount in the reporting period EUR % of net assets Securities traded on an exchange Interest-bearing securities % Austria 04/ MTN 144a (AT )... EUR % % Austria 09/ (AT0000A0CL73)... EUR % % Finland 04/ (FI )... EUR 650 % % Finland 09/ (FI )... EUR 850 % % Germany 05/ (DE )... EUR % % Germany 06/ (DE )... EUR % % Germany 06/ (DE )... EUR % % Germany 10/ S.158 (DE )... EUR % % Germany 10/ S.156 (DE )... EUR % % Germany 11/ S.161 (DE )... EUR % % Germany 12/ BSA (DE ). EUR 800 % % Germany 12/ S.162 (DE )... EUR % % Netherlands 12/ (NL ).. EUR % % Netherlands 13/ (NL ).. EUR % Total securities portfolio Cash at bank Demand deposits at Custodian EUR deposits... EUR % Other assets Interest receivable... EUR % Total assets Net assets Net asset value per share Number of shares outstanding Negligible rounding errors may have arisen due to the rounding of calculated percentages. Composition of the reference portfolio (according to CSSF circular 11/512) Merrill - EMU Direct Governments AAA-AA Rated 1-3 Yrs Index Market risk exposure (value-at-risk) (according to CSSF circular 11/512) Lowest market risk exposure... % Highest market risk exposure... % Average market risk exposure... % The values-at-risk were calculated for the period from January 1, 2014, through April 25, 2014, using historical simulation with a 99% confidence level, a 10-day holding period and an effective historical observation period of one year. The risk in a reference portfolio that does not contain derivatives is used as the measurement benchmark. Market risk is the risk to the fund s assets arising from an unfavorable change in market prices. The Company determines the potential market risk by means of the relative value-at-risk approach as defined in CSSF circular 11/512. In the reporting period, the average leverage effect from the use of derivatives was 0.3, whereby the total of the nominal amounts of the derivates in relation to the fund s assets was used for the calculation (sum of notional approach). The gross exposure generated via derivatives pursuant to point 40 a) of the Guidelines on ETFs and other UCITS issues of the European Securities and Markets Authority (ESMA) totaled EUR 0.00 as of the reporting date. 20

23 DWS Institutional Euro Short Duration Sovereign Fund (AAA) Notes on the valuation Under the responsibility of the Board of Directors of the SICAV, the Management Company determines the net asset values per share and performs the valuation of the assets of the fund. The basic provision of price data and price validation are performed in accordance with the method introduced by the Board of Directors of the SICAV on the basis of the legal and regulatory requirements or the principles for valuation methods defined in the SICAV s prospectus. If no trading prices are available, prices are determined with the aid of valuation models (derived market values) which are agreed between State Street Bank Luxembourg as external price service provider and the Management Company and which are based as far as possible on market parameters. This procedure is subject to an ongoing monitoring process. The plausibility of price information from third parties is checked through other pricing sources, model calculations or other suitable procedure. Investments reported in this report are not valued at derived market values. Footnotes 1 Does not include positions with a negative balance, if such exist. Transactions completed during the reporting period that no longer appear in the investment portfolio Purchases and sales of securities, investment fund units and promissory note loans (Schuldscheindarlehen); market classifications are as of the reporting date Count/ Purchases/ Sales/ Description currency additions disposals ( / 000) Securities traded on an exchange Interest-bearing securities % Austria 03/ MTN 144a (AT )... EUR % Germany 09/ S.155 (DE )... EUR % Netherlands 04/ (NL )... EUR Securities loans (total transactions, at the value agreed at the closing of the loan contract) Value ( 000) Perpetual EUR Security description: % Austria 03/ MTN 144a (AT ), % Austria 04/ MTN 144a (AT ), % Austria 09/ (AT0000A0CL73), % Germany 05/ (DE ), % Germany 09/ S.155 (DE ), % Germany 10/ S.158 (DE ), % Germany 10/ S.156 (DE ), % Germany 11/ S.161 (DE ), % Netherlands 04/ (NL ), % Netherlands 12/ (NL ), % Netherlands 13/ (NL ) Derivatives (option premiums realized in opening transactions, or total options transactions; in the case of warrants, purchases and sales are shown) Futures contracts Value ( 000) Interest rate futures Contracts purchased: EUR (Underlyings: Euro-Schatz Future 03/2014, Euro-Schatz Future 06/2014) 21

24 DWS Institutional Euro Short Duration Sovereign Fund (AAA) Statement of income and expenses (incl. income adjustment) Development of the fund s net assets for the period from January 1, 2014, through April 25, 2014 I. Income 1. Interest from securities (before withholding tax)... EUR Interest from investments of liquid assets (before withholding tax)... EUR Income from securities lending and repurchase agreements EUR including: from securities lending...eur Other income EUR including: Compensation payments...eur Total income... EUR II. Expenses 1. Management fee... EUR including: All-in fee...eur Other expenses... EUR including: Performance-based fee from securities lending...eur Taxe d abonnement...eur Total expenses... EUR Net investment income... EUR IV. Sale transactions Realized gains... EUR Realized losses... EUR Capital gains/losses... EUR V. Realized gains/losses for the fiscal year... EUR Net changes in value of unrealized gains... EUR Net changes in value of unrealized losses... EUR VI. Unrealized gains/losses for the fiscal year... EUR VII. Net gain/loss for the fiscal year... EUR Note: The net change in unrealized gains (losses) is calculated by comparing the total of all unrealized gains (losses) at the end of the fiscal year and the total of all unrealized gains (losses) at the beginning the fiscal year. The total unrealized gains (losses) include the positive (negative) differences resulting from the comparison of the carrying amounts of individual assets at the reporting date at amortized cost. The unrealized gains/losses are reported without income adjustment. I. Value of the fund s assets at the beginning of the fiscal year... EUR Distribution for the previous year... EUR Net inflows... EUR a) Inflows from subscriptions... EUR b) Outflows from redemptions... EUR Income adjustment... EUR Net gain/loss for the fiscal year... EUR including: Net change in unrealized appreciation... EUR Net change in unrealized depreciation... EUR II. Value of the fund s assets on the date of the last unit price calculation... EUR Summary of the gains/losses Realized gains (incl. income adjustment)... EUR from: Securities transactions... EUR Financial futures transactions... EUR Realized losses (incl. income adjustment)... EUR from: Securities transactions... EUR Financial futures transactions... EUR Net change in unrealized appreciation/depreciation... EUR from: Securities transactions... EUR Financial futures transactions... EUR Changes in net assets and in the net asset value per share over the last three years Net assets at the end of the fiscal year EUR Net asset value per share EUR April 25, 2014 (date of last share price calculation) BVI total expense ratio (TER) The total expense ratio was 0.18% p.a. The TER expresses total expenses and fees (excluding transaction costs) as a percentage of a fund s average net assets for a given fiscal year. As well, the additional income from securities lending resulted in a performance-based fee of 0.012% p.a. calculated on the fund s average net assets. Transaction costs The transaction costs paid in the reporting period amounted to EUR 1, The transaction costs include all costs that were reported or settled separately for the account of the fund in the reporting period and are directly connected to the purchase or sale of assets. Any financial transaction taxes which may have been paid are included in the calculation. 22

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26 DWS Institutional SICAV June 30, 2014 Portfolio composition (in euro) DWS Institutional SICAV DWS Institutional USD Money plus * DWS Institutional Yield Securities portfolio Currency derivatives Swaps Cash at bank Other assets Total assets Loan liabilities Other liabilities = Net assets Does not include positions with a negative balance, if such exist. * The portfolio composition of the U.S. dollar-denominated fund, DWS Institutional USD Money plus, was converted into euro at the stated exchange rates. Fiscal six-month period ended June 30, 2014 USD = EUR 1 24

27 DWS Institutional Rendite 2017 DWS Institutional Multi Asset Total Return DWS Institutional Money plus DWS Institutional Cash Plus

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29 Investment Company DWS Institutional SICAV 2, Boulevard Konrad Adenauer L Luxembourg RC B Klaus-Michael Vogel Executive Member of the Board of Directors of DWS Investment S.A., Luxembourg Member of the Management Board of Deutsche Bank Luxembourg S.A., Luxembourg Fund Manager Deutsche Asset & Wealth Management Investment GmbH Mainzer Landstraße D Frankfurt/Main Board of Directors of the Investment Company Doris Marx Chairwoman DWS Investment S.A., Luxembourg Manfred Bauer DWS Investment S.A., Luxembourg Markus Kohlenbach DWS Investment S.A., Luxembourg Stephan Scholl Deutsche Asset & Wealth Management International GmbH, Frankfurt/Main Promoter and Management Company DWS Investment S.A. 2, Boulevard Konrad Adenauer L Luxembourg Capital stock as of December 31, 2013: EUR million Board of Directors of the Management Company Holger Naumann Chairman Managing Director of Deutsche Asset & Wealth Management Investment GmbH, Frankfurt/Main Managing Director of DWS Holding & Service GmbH, Frankfurt/Main Managing Director of RREEF Spezial Invest GmbH, Frankfurt/Main Chairman of the Board of Directors of Oppenheim Asset Management Services S.à.r.l., Luxembourg Dr. Asoka Wöhrmann Managing Director of Deutsche Asset & Wealth Management Investment GmbH, Frankfurt/Main Managing Director of DWS Holding & Service GmbH, Frankfurt/Main Wolfgang Matis (until June 30, 2014) Deutsche Asset & Wealth Management Investment GmbH, Frankfurt/Main Management Company Management Klaus-Michael Vogel Executive Member of the Board of Directors of DWS Investment S.A., Luxembourg Member of the Management Board of Deutsche Bank Luxembourg S.A., Luxembourg Manfred Bauer DWS Investment S.A., Luxembourg Markus Kohlenbach DWS Investment S.A., Luxembourg Doris Marx DWS Investment S.A., Luxembourg Ralf Rauch DWS Investment S.A., Luxembourg Martin Schönefeld DWS Investment S.A., Luxembourg Auditor KPMG Luxembourg S.à r.l. 9, Allée Scheffer L Luxembourg Custodian Sales, Information and Paying Agent LUXEMBOURG Deutsche Bank Luxembourg S.A. 2, Boulevard Konrad Adenauer L Luxembourg Heinz-Wilhelm Fesser Luxembourg Marzio Hug Deutsche Bank AG, London State Street Bank Luxembourg S.A. 49, Avenue J. F. Kennedy L Luxembourg Dr. Boris N. Liedtke Chairman of the Management Board of Deutsche Bank Luxembourg S.A., Luxembourg Dr. Matthias Liermann Deutsche Asset & Wealth Management Investment GmbH, Frankfurt/Main As of July 31, 2014

30 DWS Institutional SICAV 2, Boulevard Konrad Adenauer L-1115 Luxembourg RC B Tel.: Fax: