DWS Institutional. Semiannual Report DWS Institutional Money plus DWS Institutional USD Money plus

Transcription

1 DWS Institutional Semiannual Report 2011 DWS Institutional Money plus DWS Institutional USD Money plus Investment Company with Variable Capital Incorporated under Luxembourg Law 7/2011 : The DWS/DB Group is the largest German mutual fund company according to assets under management. Source: BVI. As of: June 30, 2011.

2 DWS Institutional Money plus DWS Institutional USD Money plus

3 Contents Semiannual report 2011 for the period from January 1, 2011, through June 30, 2011 General 50 Asien information Semiannual report DWS Institutional SICAV DWS Institutional Money plus 4 DWS Institutional USD Money plus 5 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 meas - ured 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, 2011 (except for liquidated funds). Sales prospectuses Fund shares are purchased on the basis of the current simplified and full sales prospectuses* and the 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.). * (effective July 1, 2011, the Simplified Sales Prospectus will be replaced by the document entitled Key Investor Information Document ) The valuation of the products contained in the portfolio of the funds DWS Institutional Money plus and DWS Institutional USD Money plus as of the reporting date or liquitdation date was performed by the Management Company in good faith in accordance with generally accepted valuation principles. The valuation represents the application of the greatest possible diligence and prudence and was based on the most recently available market or exchange prices. The respective fund s assets are partially invested in products for which there was no liquid market as of the reporting date due to the financial market crisis. The valuation was therefore carried out with estimated current values based on indicative broker quotations or valuation models, which does not necessarily imply that market transactions have taken place. Given the financial market crisis and the associated illiquidity of the market for these products, it cannot generally be excluded that such securities transactions could have taken place at higher or lower values. 2

5 2011 Semiannual report

6 DWS Institutional Money plus DWS INSTITUTIONAL MONEY PLUS vs. benchmark Performance at a glance in % months DWS Institutional Money plus 1M EUR LIBID + 5bp Data on euro basis BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2011 DWS INSTITUTIONAL MONEY PLUS Rating distribution of the bonds in the portfolio* Bonds: 90.4 AAA AA A BBB Other Investment funds Money market funds Cash and other assets In % of the fund s net assets (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,

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 on U.S. dollar basis BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2011 DWS INSTITUTIONAL USD MONEY PLUS Rating distribution of the bonds in the portfolio* Bonds: 83.8 AAA AA A BBB Cash and other assets In % of the fund s net assets (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,

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9 0Investment 0 portfolios for the reporting period The format used for complete dates in securities descriptions in the investment portfolio is day/month/year.

10 DWS Institutional Money plus Investment portfolio June 30, 2011 Count/ Quantity/ Purchases/ Sales/ Total market % of Description currency principal additions disposals Market price value in net assets ( / 000) amount in the reporting period EUR Securities traded on an exchange Interest-bearing securities % A.N.Z. Banking Group 06/ MTN (XS ) EUR % % Abbey National Treasury Services 11/ MTN (XS ) EUR % % A-BEST 2 05/ Cl.A (XS ) EUR % % ABN AMRO Bank 10/ MTN (XS ) EUR % % ABN AMRO Bank 10/ MTN (XS ) EUR % % ABN AMRO Bank 11/ MTN (XS ) EUR % % ART Five /TAP SA 06/ S.100 (XS ) EUR % % ASB Finance (London Br.) 07/ MTN (XS ) EUR % % Athlon Securitisation 05/ CI.A (XS ) EUR % % Atlantes Mortgage No.1 03/ Cl.A (XS ) EUR % % Bacchus 06/ S.2 CI.A1 (XS ) EUR % % Banesto Financial Products 10/ MTN (XS ) EUR % % Bank of America 07/ MTN (XS ) 3) EUR % % Banque Fédérative Crédit Mut. 09/ MTN (XS ) 3) EUR % % Banque Fédérative Crédit Mut. 10/ MTN (XS ) EUR % % Banque Fédérative Crédit Mut. 11/ MTN (XS ) EUR % % Barclays Bank 08/ MTN (XS ) 3) EUR % % Barclays Bank 09/ MTN (XS ) EUR % % Bayerische Landesbank 08/ R ÖPF (DE000BLB5G06) EUR % % Bayerische Landesbank 11/ PF (XS ) 3) EUR % % Berlin 10/ LSA S.294 (DE000A1A6RD8) 3) EUR % % Berlin-Hannover.Hypo.bk. 08/ E.102 PF (DE000A0XXRM1) 3) EUR % % BMW Australia Finance 10/ MTN (XS ) 3) EUR % % BMW Finance 11/ MTN (XS ) EUR % % BMW Finance 11/ MTN (XS ) EUR % % BNP Paribas 10/ MTN (XS ) 3) EUR % % BNP Paribas 11/ MTN (XS ) 3) EUR % % BNP Paribas 11/ MTN (XS ) EUR % % BNP Paribas 11/ MTN (XS ) EUR % % BPCE 06/ MTN (FR )... EUR % % Bremen 09/ A.163 LSA (DE000A0XYRS6) EUR % % Chapel 03/ S.1 Cl.A (XS ) EUR % % Cie. Financement Foncier 10/ MTN PF (FR ) 3) EUR % % Citigroup 06/ MTN (XS ) EUR % % Commerzbank 01/ Tr.519 MTN (XS ) EUR % % Commerzbank 07/ MTN (DE000DR5B8U7) EUR % % Commonwealth Bank Australia 06/ MTN (XS ) EUR %

11 DWS Institutional Money plus Count/ Quantity/ Purchases/ Sales/ Total market % of Description currency principal additions disposals Market price value in net assets ( / 000) amount in the reporting period EUR % Coriolanus/BLB-Genuss. 09/ MTN S.118 (XS ) EUR % % Coriolanus/CART 1 07/ MTN (XS ) EUR % % Crédit Agricole (London Br.) 07/ MTN (XS ) 3) EUR % % Crédit Agricole (London Br.) 11/ MTN (XS ) EUR % % Credit Foncier de France 10/ MTN (FR ) EUR % % Crédit Mutuel Arkéa 06/ MTN (FR ) EUR % % Credit Suisse (London Br.) 07/ MTN (XS ) EUR % % Danske Bank 06/ MTN (XS ) EUR % % Danske Bank 07/ MTN (XS ) EUR % % Danske Bank 07/ MTN (XS ) EUR % % Deutsche Bank 07/ (XS ) EUR % % Deutsche Hypothekenbank 04/ ÖPF MTN S.41 (XS ) 3) EUR % % Deutsche Hypothekenbank 09/ ÖPF MTN (DE000DHY1834) EUR % % Deutsche Hypothekenbank 11/ MTN HPF S.290 (DE000DHY2907) 3) EUR % % Dexia Banque Int. Luxembourg 09/ MTN (XS ) EUR % % Dexia Kommunalbank 06/ E.1459 ÖPF (DE000DXA0Q10) 3) EUR % % Dexia Kommunalbank 11/ ÖPF S.1629 (DE000DXA1NN0) 3) EUR % % DnB NOR Bank 06/ MTN (XS ) EUR % % EARLS Eight /BVV 05/ S.190 MTN (XS ) EUR % % EARLS Four/Allianz 02/ S.653 MTN (XS ) EUR % % Eirles One 01/ MTN S.26 (XS ) EUR % % Eirles Three 09/ S.289 MTN (XS ) EUR % % Eirles Three/BayLaba Genuss. 09/ S.291 MTN (XS )... EUR % % EUROFIMA 10/ MTN (XS ) EUR % % Eurohypo 07/ HPF S.1N7 (DE000HBE1N78) EUR % % France B.T.A.N. 05/ (FR ) 3) EUR % % GE Capital European Funding 08/ MTN (XS ) EUR % % Germany 09/ S.1 (DE ) 3) EUR % % Granite Master Issuer 05/ S.2 Cl.A5 (XS ) EUR % % Hamburg 10/ LSA S.20 (DE000A1E8K09) EUR % % HSBC Bank 09/ MTN (XS ) EUR % % Hypo Alpe-Adria Bank Int. 07/ MTN (XS ) EUR % % Hypo Alpe-Adria-Bank Int. 01/ MTN (XS ) EUR % % IKB Deutsche Industriebank 07/ MTN (XS ) EUR % % ING Bank 11/ MTN (XS ) EUR % % ING Bank 11/ MTN (XS ) EUR % % ING Bank/Australia 06/ MTN (XS ) EUR % % Intesa Sanpaolo 10/ MTN (XS ) EUR %

12 DWS Institutional Money plus Count/ Quantity/ Purchases/ Sales/ Total market % of Description currency principal additions disposals Market price value in net assets ( / 000) amount in the reporting period EUR % Intesa Sanpaolo Bank Ireland 11/ MTN (XS ) EUR % % Jump 05/ S.1 Cl.A (IT ). EUR % % KBC Ifima 06/ MTN (XS ) EUR % % KfW 10/ MTN (XS ).... EUR % % Kildare Securities 07/ Cl.A3 (XS ) EUR % % Kommunalkredit Austria 11/ MTN (XS ) EUR % % Landesbank Saar 10/ A.376 ÖPF (DE000SLB3768) EUR % % LB Baden-Württemberg 04/ R.230 IHS (DE000LBW14R9) EUR % % LB Baden-Württemberg 05/ S.461 MTN (XS ) 3) EUR % % LB Hessen-Thüringen 05/ S.H157 IHS MTN (XS ) 3) EUR % % LB Hessen-Thüringen 09/ IHS (DE000HLB1SJ6) EUR % % LB Hessen-Thüringen 10/ S.H220 IHS MTN (XS ) EUR % % LB Hessen-Thüringen 10/ E.0509B/025 ÖPF (DE000HLB3MY4) 3).... EUR % % L-Bank B-W-Förderbank 10/ S.5371 IHS MTN (XS ) 3) EUR % % L-Bank B-W-Förderbank 11/ MTN (XS ) EUR % % Lloyds TSB Bank 11/ MTN (XS ) 3) EUR % % Lombarda Lease Finance No.4 05/ Cl.A (IT ) EUR % % Münchener Hypothekenbk. 09/ MTN IHS S.1371 (DE000MHB7498) 3)..... EUR % % Münchener Hypothekenbk. 10/ MTN (DE000MHB7761) 3) EUR % % National Bank of Abu Dhabi 09/ MTN (XS ) EUR % % National Bank of Abu Dhabi 10/ MTN (XS ) EUR % % Norddt. Landesbank 04/ IHS MTN (XS ) EUR % % Norddt. Landesbank 07/ S.1237 ÖPF (DE000NLB24A3) EUR % % Nordea Bank 09/ MTN (XS ) EUR % % Nordea Bank 11/ MTN (XS ) EUR % % Nordea Bank 11/ MTN (XS ) EUR % % Nordrhein-Westfalen 09/ LSA R.912 (DE000NRW2W07) 3) EUR % % NRW.BANK 09/ A.11Q IHS (DE000NWB11Q3) 3) EUR % % Nykredit Realkredit 09/ Ser.31e PF (LU ) EUR % % Pohjola Pankki 09/ MTN (XS ) EUR % % Rabobank 10/ MTN (XS ) EUR % % Rabobank 11/ MTN (XS ) 3) EUR % % Rheinland-Pfalz 10/ LSA (DE000A1DAA16) EUR % % Royal Bank of Canada 07/ MTN (XS ) 3) EUR % % Royal Bank of Scotland 06/ MTN (XS ) EUR % % Royal Bank of Scotland 11/ MTN (XS ) EUR % % Santander International Debt 10/ MTN (XS ) EUR % % Santander International Debt 10/ MTN (XS ) EUR % % Santander International Debt 11/ MTN (XS ) EUR %

13 DWS Institutional Money plus Count/ Quantity/ Purchases/ Sales/ Total market % of Description currency principal additions disposals Market price value in net assets ( / 000) amount in the reporting period EUR % Société Générale 08/ MTN (XS ) 3) EUR % % Societé Générale 09/ MTN (XS ) EUR % % Societe Generale 11/ MTN (XS ) EUR % % Split 2 04/ Cl.A (IT ).... EUR % % Svenska Handelsbanken 08/ MTN (XS ) EUR % % Svenska Handelsbanken 09/ MTN (XS ) EUR % % Svenska Handelsbanken 10/ MTN (XS ) EUR % % Svenska Handelsbanken 11/ MTN (XS ) EUR % % Swedbank 11/ MTN (XS ) EUR % % Swedbank Hypotek 10/ MTN PF (XS ) EUR % % Swedish Housing Finance 11/ MTN (XS ) EUR % % Swedish Housing Finance 11/ MTN (XS ) EUR % % Swedish Housing Finance 11/ MTN (XS ) EUR % % UBS (Jersey Br.) 11/ MTN (XS ) EUR % % UniCredit 06/ MTN (XS ) 3) EUR % % Unicredit 11/ MTN (XS ) EUR % % UniCredit Bank 01/ S.962 PF (DE ) EUR % % UniCredit Bank Ireland 10/ MTN (XS ) EUR % % Volkswagen Bank 11/ MTN (XS ) EUR % % Vorarlberger Landes- Hyp.bank 11/ ÖPF MTN (XS ) EUR % % Wells Fargo & Co. 06/ MTN (XS ) 3) EUR % % Wells Fargo Bank 06/ MTN (XS ) 3) EUR % % Westdt. ImmobilienBank 04/ IHS MTN (XS ) EUR % % WL BANK 09/ MTN ÖPF R.610 (DE000A1CRXS0) 3) EUR % % WL BANK 09/ R.592 ÖPF (DE000A0Z2RN8) 3) EUR % % WL BANK 10/ MTN IHS R.183 (DE000A1DAAL7) EUR % % WL Bank 11/ MTN (DE000A1H3U05) 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 % % Lunar Funding V/LBBW 05/ S.9 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 ) 3) USD % % Royal Bank of Scotland 06/ MTN (XS ) USD % % Siemens Financieringsmaatsch. 06/ MTN (XS ) USD % % BW Bank Capital Funding Trust I 99/und. S.1 (USU ) Count EUR

14 DWS Institutional Money plus Count/ Quantity/ Purchases/ Sales/ Total market % of Description currency principal additions disposals Market price value in net assets ( / 000) amount in the reporting period EUR Unlisted securities Interest-bearing securities % DZ PRIVATBANK Tr.71 (XS ) EUR % % Rabobank 04/ MTN (XS ) 3) EUR % % Tagus S. T. C. 06/ S.Altis 1 Cl.A (XS ) EUR % Investment fund units In-group fund units DWS Best Global FX Selection Plus (LU ) (1.500%) Count EUR DWS Invest Government Liquidity Fund FC (LU ) (0.150%) Count EUR DWS Invest Income Strategy Conservative IC (LU ) (0.300%) Count EUR DWS Invest Income Strategy Currency 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 Allianz SE / 25 BP (BNP) SELL (OTC FFM) EUR Barclays Bank / 25 BP (BNP) SELL (OTC FFM) EUR Credit Suisse Group Fin/ 25 BP (MST) SELL (OTC FFM) EUR Sanofi Aventis/ 25 BP (CIT) SELL (OTC FFM) EUR Swiss Re America/ 25 BP (BNP) SELL (OTC FFM) EUR USA / 25 BP (BNP) SELL (OTC FFM) EUR Cash at bank Demand deposits at Custodian EUR deposits EUR % Deposits in other EU/EEA currencies EUR % Deposits in non-eu/eea currencies Swiss franc CHF % Japanese yen JPY % U.S. dollar USD %

15 DWS Institutional Money plus Count/ Quantity/ Purchases/ Sales/ Total market % of Description currency principal additions disposals Market price value in net assets ( / 000) amount in the reporting period EUR Repayment claims from securities purchased under repurchase agreements Rev Repo DWS Institutional Money Plus (BNP Paribas S.A., Paris) % EUR % Other assets Interest receivable EUR % Withholding tax claims EUR % Other receivables EUR % Other liabilities EUR % Net assets Net asset value per share Number of shares outstanding Negligible rounding errors may have arisen due to the rounding of calculated percentages. Market abbreviations Futures exchanges OTC FFM = Over the Counter Frankfurt/Main Exchange rates (indirect quotes) As of June 30, 2011 Swiss franc CHF = EUR 1 Japanese yen JPY = EUR 1 U.S. dollar USD = EUR 1 Security prices and market rates The fund s assets are valued on the basis of the last known prices/market rates. The fund s assets are partially invested in products for which there was no liquid market as of the reporting date due to the financial market crisis. The valuation was therefore carried out with estimated current values based on indicative broker quotations or valuation models. 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. Footnotes 3) Some or all of these securities are lent. The equivalent value of the lent securities is EUR

16 DWS Institutional Money plus 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 % Allied Irish Banks 10/ MTN (XS ) EUR % ABN AMRO Bank 10/ MTN (XS ) EUR % Arlo II/Münchener Rück 05/ MTN (XS ) EUR % Banco Bilbao Vizcaya Argentaria 04/ PF (ES ) EUR % Banco Espanol de Crédito 04/ PF (ES ) EUR % Banco Santander 05/ PF (ES ) EUR % Banque Fédérative Crédit Mut. 11/ MTN (XS ).... EUR % Barclays Bank 10/ MTN (XS ) EUR % Barclays Bank 10/ MTN (XS ) EUR % Bayerische Landesbank 04/ IHS (XS ) EUR % Bayerische Landesbank 04/ MTN (XS ) EUR % Bayerische Landesbank 08/ HPF S.0033 (DE000BLB6B67) EUR % BNP Paribas 10/ MTN (XS ) EUR % BNP Paribas Home Loan Cov. Bonds 08/ MTN (FR ).... EUR % BPCE 09/ MTN (FR ) EUR % Bruckner CDO I 04/ Cl.A1 Reg S (XS ) EUR % Caja Ahorr. Monte Piedad Madrid 04/ PF (ES ) EUR % Cie. Financement Foncier 03/ MTN PF (FR ) EUR % Coriolanus/BLB-Genuss. 09/ MTN S.118 (XS X) EUR % Crédit Agricole (London Br.) 10/ MTN (XS ).... EUR % Dexia Kommunalbank 04/ E.1273 ÖPF (DE000DXA0KK4) EUR % DnB NOR Bank 06/ MTN (XS ) EUR % Faxtor ABS 04/ Cl.A1 (XS ) EUR % Fortis Bank 10/ MTN (XS ) EUR % France B.T.A.N. 06/ (FR ) EUR % GE Capital European Funding 07/ MTN (XS ).... EUR % Germany 09/ BSA (DE ) EUR % Germany BS 09/ (DE ) EUR % ING Bank 10/ MTN (XS ) EUR % ING Bank 10/ MTN (XS ) EUR % Instituto de Credito Oficial 10/ MTN (XS ) EUR % Intesa Sanpaolo 04/ MTN (XS ) EUR % Intesa Sanpaolo 08/ MTN (XS ) EUR % Italy 10/ (IT )..... EUR % Italy 10/ (IT )..... EUR % KBC Ifima 10/ MTN (XS ) EUR % LB Baden-Württemberg 00/ S.591 ÖPF (DE ) EUR % Lloyds TSB Bank 10/ MTN (XS ) EUR % Münchener Hypothekenbk. 09/ MTN PF S.1282 (DE000MHB0923).... EUR % National Australia Bank 06/ MTN (XS ) EUR % Natixis 09/ MTN (XS ) EUR % Nordea Hypotek 08/ PF MTN (XS ) EUR % Nordrhein-Westfalen 08/ LSA R.843 (DE000NRW1162) EUR % Nykredit Realkredit 09/ PF S.12E (LU ) EUR % Nykredit Realkredit 10/ S.12E PF (LU ) EUR % Pohjola Pankki 06/ MTN (XS ) EUR % Rabobank 10/ Tr.4 MTN (XS ) EUR % Raiffeisen Zentralbank Österreich 06/ MTN (XS ).... EUR % Realkredit Danmark 10/ PF (LU ) EUR % Royal Bank of Scotland 09/ MTN (XS ) EUR % Santander International Debt 06/ MTN (XS ).... EUR % SBAB 09/ MTN (XS ) EUR % Societe Generale Acc./L Oreal 06/ CLN (XS )..... EUR % Spain 10/ (ES0L ).... EUR % Toyota Motor Finance [Netherlands] 10/ MTN (XS ).... EUR % Ulster Bank Finance 06/ (XS ) EUR % Volkswagen Bank 07/ MTN (XS ) EUR % WestLB 08/ IHS S.B85J (DE000WLB85J6) EUR % Westpac Banking Corp. 08/ MTN (XS ) EUR % WL BANK 06/ MTN ÖPF R.491 (DE000A0JFC63) EUR Unlisted securities Interest-bearing securities % BPCE 11/ Tr.3 MTN (FR ) EUR % Crédit Agricole CD (FR ) EUR % DZ PRIVATBANK Tr.20 (XS ) EUR % ENEL Finance International (XS ) EUR % HSBC Bank 11/ MTN (XS ) EUR % KA Finanz 06/ MTN (XS ) EUR % RWE (XS ) EUR % Tesco (XS ) EUR

17 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 sell currencies USD/EUR EUR Securities loans (total transactions, at the value agreed at the closing of the loan contract) Value ( 000) Perpetual EUR (Security description: % ABN AMRO Bank 10/ MTN, % Bank of America 07/ MTN, % Banque Fédérative Crédit Mut. 11/ MTN, % Bayerische Landesbank 04/ MTN, % Bayerische Landesbank 08/ HPF S % Berlin 10/ LSA S % BNP Paribas 11/ MTN, % BPCE 09/ MTN, % Cie. Financement Foncier 10/ MTN PF, % Citigroup 06/ MTN, % Crédit Agricole (London Br.) 07/ MTN, % Credit Foncier de France 10/ MTN, % Deutsche Hypothekenbank04/ ÖPF MTN S % Deutsche Hypothekenbank 09/ ÖPF MTN, % Deutsche Hypothekenbank 11/ MTN HPF S % Dexia Banque Int. Luxembourg 09/ MTN, % Dexia Kommunalbank 04/ E.1273 ÖPF, % Dexia Kommunalbank 06/ E.1459 ÖPF, % DnB NOR Bank 06/ MTN, % DnB NOR Bank 06/ MTN, % France B.T.A.N. 05/ % France B.T.A.N. 06/ % GE Capital European Funding 07/ MTN, % Germany 09/ BSA, % Germany BS 09/ % Hamburg 10/ LSA S % Intesa Sanpaolo 04/ MTN, % Intesa Sanpaolo 10/ MTN, % Italy 10/ % L-Bank B-W-Förderbank 10/ S.5371 IHS MTN, % LB Baden-Württemberg 04/ R.230 IHS, % LB Baden-Württemberg 05/ S.461 MTN, % LB Hessen-Thüringen 05/ S.H157 IHS MTN, % LB Hessen-Thüringen 09/ IHS, % LB Hessen-Thüringen 10/ S.H220 IHS MTN, % LB Hessen-Thüringen 10/ E.0509B/025 ÖPF, % Münchener Hypothekenbk. 09/ MTN IHS S % Münchener Hypothekenbk. 09/ MTN PF S % Münchener Hypothekenbk. 10/ MTN, % Norddt. Landesbank 04/ IHS MTN, % Norddt. Landesbank 07/ S.1237 ÖPF, % Nordea Bank 09/ MTN, % Nordea Hypotek 08/ PF MTN, % Nordrhein-Westfalen 08/ LSA R % Nordrhein- Westfalen 09/ LSA R % NRW.BANK 09/ A.11Q IHS, % Rabobank 10/ MTN, % Rabobank 11/ MTN, % Royal Bank of Scotland 06/ MTN, % Santander International Debt 06/ MTN, % Societé Générale 09/ MTN, % Toyota Motor Finance [Netherlands] 10/ MTN, % Wells Fargo & Co. 06/ MTN, % Wells Fargo Bank 06/ MTN, % WL BANK 06/ MTN ÖPF R % WL BANK 09/ MTN ÖPF R % WL BANK 09/ R.592 ÖPF, % WL BANK 10/ MTN IHS R % Royal Bank of Scotland 05/ MTN) Securities repurchase agreements (total transactions, at the value agreed at the closing of the repurchase agreements) Value ( 000) Purchased under repurchase agreements EUR (Underlyings: Austria 04/ MTN 144a, Austria 06/ MTN 144a, Austria 06/ MTN 144a, Austria 07/ MTN 144a, Austria 10/ MTN 144a, Baden-Württemberg 05/ R.64 LSA, Bank Nederlandse Gemeenten 01/ MTN, Bank Nederlandse Gemeenten 02/ MTN, Bank Nederlandse Gemeenten 03/ MTN, Bank Nederlandse Gemeenten 04/ MTN, Bank Nederlandse Gemeenten 05/ MTN, Bank Nederlandse Gemeenten 06/ MTN, Bank Nederlandse Gemeenten 06/ MTN, Bank Nederlandse Gemeenten 06/ MTN, Bank Nederlandse Gemeenten 07/ MTN, Bank Nederlandse Gemeenten 08/ MTN, Bank Nederlandse Gemeenten 08/ MTN, Bank Nederlandse Gemeenten 09/ MTN, Bank Nederlandse Gemeenten 09/ MTN, Bank Nederlandse Gemeenten 10/ MTN, Bank Nederlandse Gemeenten 10/ MTN, Bank Nederlandse Gemeenten 10/ MTN, Bank Nederlandse Gemeenten 10/ MTN, Bank Nederlandse Gemeenten 10/ MTN, Bank Nederlandse Gemeenten 11/ MTN, Bank Nederlandse Gemeenten 11/ MTN, Bank Nederlandse Gemeenten 11/ MTN, Bank Nederlandse Gemeenten 98/ MTN, Bayern 02/ S.96 LSA, Bayern 05/ S.101 LSA, Bayern 06/ S.102 LSA, Bayern 07/ S.103 LSA, Bayern 09/ S.114 LSA, Bayern 09/ S.108 LSA, Bayern 11/ Ser.120 LSA, Berlin 01/ A.108 LSA, Berlin 03/ A.159 LSA, Berlin 05/ A.204 LSA, Berlin 05/ A.206 LSA, Berlin 05/ A.196 LSA, Berlin 07/ A.230 LSA, Berlin 09/ A.267 LSA, Berlin 09/ A.264 LSA, Berlin 11/ IHS S.336. Brandenburg 03/ R.143 LSA, Brandenburg 05/ LSA, Bundesländer 09/ No.32 LSA, Bundesländer 10/ No.34 LSA, Caisse d'amort. de la Dette Soc. 11/ MTN, Caisse d'amortism. Dette Soc. 02/ INFL, Caisse d'amortism. Dette Soc. 04/ INFL, Caisse d'amortism. Dette Soc. 04/ MTN, Caisse d'amortism. Dette Soc. 04/ Caisse d'amortism. Dette Soc. 05/ MTN, Caisse d'amortism. Dette Soc. 05/ Caisse d'amortism. Dette Soc. 05/ Caisse d'amortism. Dette Soc. 06/ MTN, Caisse d'amortism. Dette Soc. 06/ MTN INFL, Caisse d'amortism. Dette Soc. 06/ MTN, Caisse d'amortism. Dette Soc. 07/ MTN, Caisse d'amortism. Dette Soc. 08/ MTN, Caisse d'amortism. Dette Soc. 09/ Caisse d'amortism. Dette Soc. 09/ MTN, Caisse d'amortism. Dette Soc. 09/ MTN, Caisse d'amortism. Dette Soc. 10/ MTN, Caisse d'amortism. Dette Soc. 10/ MTN, Caisse d'amortism. Dette Soc. 11/ MTN, Caisse d'amortism. Dette Soc. 11/ MTN, Caisse d'amortism. Dette Soc. 11/ MTN, Caisse d'amortism. Dette Soc. 11/ INFL, Caisse d'amortism. Dette Soc. 98/ Caisse d'amortism. Dette Soc. 99/ INFL, Council of Europe Dev. Bank 10/ MTN, EFSF 11/ MTN, EURO-FIMA 01/ MTN, EUROFIMA 04/ MTN, EURO-FIMA 09/ MTN, European Community 08/ MTN, European Community 09/ MTN, European Community 09/ MTN, European Community 09/ MTN, European Community 09/ MTN, European Community 10/ MTN, European Community 10/ MTN, European Community 11/ MTN, European Community 11/ MTN, European Community 11/ MTN, European Community 11/ MTN, European Investment Bank 02/ European Investment Bank 03/ MTN, European Investment Bank 04/ MTN, European Investment Bank 05/ MTN, 15

18 DWS Institutional Money plus Securities repurchase agreements (total transactions, at the value agreed at the closing of the repurchase agreements) Value ( 000) European Investment Bank 06/ MTN, European Investment Bank 06/ MTN, European Investment Bank 06/ MTN, European Investment Bank 07/ MTN, European Investment Bank 07/ MTN, European Investment Bank 07/ MTN, European Investment Bank 07/ MTN, European Investment Bank 08/ MTN, European Investment Bank 08/ MTN, European Investment Bank 08/ MTN, European, Investment Bank 09/ MTN, European Investment Bank 09/ MTN, European Investment Bank 09/ MTN, European Investment Bank 09/ MTN, European Investment Bank 09/ 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 10/ MTN, European Investment Bank 10/ MTN, European Investment Bank 10/ MTN, European Investment Bank 10/ MTN, European Investment Bank 10/ MTN, European Investment Bank 10/ MTN, European Investment Bank 10/ MTN, European Investment Bank 11/ MTN, European Investment Bank 11/ MTN, European Investment Bank 11/ MTN, European Investment Bank 97/ Eurpoean Investment Bank 11/ MTN, Finland 08/ Finland 09/ Finland 10/ Finland 11/ France 09/ Strip, France B.T.A.N. 07/ France B.T.A.N. 09/ France B.T.A.N. 10/ France B.T.A.N. 10/ France B.T.A.N. 10/ France O.A.T. 00/ France O.A.T. 00/ France O.A.T. 01/ France O.A.T. 01/ INFL, France O.A.T. 01/ France O.A.T. 02/ France O.A.T. 02/ France O.A.T. 03/ France O.A.T. 03/ INFL, France O.A.T. 04/ INFL, France O.A.T. 04/ INFL, France O.A.T. 05/ France O.A.T. 05/ INFL, France O.A.T. 05/ France O.A.T. 06/ France O.A.T. 06/ France O.A.T. 06/ France O.A.T. 07/ France O.A.T. 08/ INFL, France O.A.T. 08/ France O.A.T. 09/ INFL, France O.A.T. 09/ France O.A.T. 09/ France O.A.T. 09/ France O.A.T. 10/ France O.A.T. 10/ INFL, France O.A.T. 10/ INFL, France O.A.T. 89/ Tr.3. France O.A.T. 92/ France O.A.T. 92/ France O.A.T. 93/ France O.A.T. 97/ France O.A.T. 99/ INFL, Germany 00/ Germany 05/ Germany 06/ Germany 06/ Germany 06/ S.148 BO, Germany 06/ INFL, Germany 07/ Germany 07/ A.II, Germany 07/ S.150 BO, Germany 07/ INFL, Germany 08/ Germany 08/ S.153 BO, Germany 09/ Ser.09. Germany 09/ Germany 09/ S.154 BO, Germany 10/ Ser.158. Germany 10/ Germany 10/ Germany 10/ Germany 11/ Germany 11/ S.160 BO, Germany 11/ Germany 11/ INFL, Germany 11/ Germany 86/ A.II, Germany 94/ Germany 97/ Coupons, Germany 97/ Coupons, Germany 97/ Coupons, Germany 97/ Coupons, Germany 97/ Coupons, Germany 97/ Coupons, Germany 97/ Coupons, Germany 97/ Coupons, Germany 97/ Coupons, Germany 97/ Coupons, Germany 97/ Coupons, Germany 97/ Coupons, Germany 97/ Coupons, Germany 97/ Coupons, Germany 97/ Germany 98/ Coupons, Germany 98/ Germany 98/ A.II, Hessen 00/ S.3 LSA, Hessen 01/ S.3 LSA, Hessen 02/ S.7 LSA, Hessen 03/ S.2 LSA, Hessen 04/ S.4 LSA, Hessen 04/ S.1 LSA, Hessen Securities repurchase agreements (total transactions, at the value agreed at the closing of the repurchase agreements) Value ( 000) 05/ S.4 LSA, Hessen 05/ S.7 LSA, Hessen 05/ S.1 LSA, Hessen 09/ S.6 LSA, Hessen 09/ S.7 LSA, Hessen 10/ LSA S Hessen 10/ LSA, Hessen 10/ LSA, Int. Bank for Rec. and Developm. 09/ MTN, KfW 01/ KfW 02/ KfW 03/ KfW 04/ KfW 05/ KfW 07/ KfW 07/ KfW 07/ KfW 08/ KfW 08/ KfW 08/ KfW 08/ KfW 09/ IHS, KfW 09/ MTN, KfW 09/ MTN, KfW 09/ MTN, KfW 09/ MTN, KfW 09/ KfW 09/ KfW 09/ KfW 09/ MTN, KfW 09/ MTN, KfW 10/ MTN, KfW 10/ KfW 10/ IHS, KfW 10/ KfW 10/ KfW 10/ MTN, KfW 10/ KfW 10/ MTN, KfW 11/ IHS, KfW 11/ IHS, KfW 11/ KfW 11/ KfW 11/ KfW 98/ KfW 98/ R.213 IHS, Landwirtsch. Rentenbank 07/ S.854 MTN, Landwirtsch. Rentenbank 07/ S.893 MTN, Landwirtsch. Rentenbank 08/ S.907 MTN, Landwirtsch. Rentenbank 09/ S.947 MTN, Landwirtsch. Rentenbank 09/ S.951 MTN, Landwirtsch. Rentenbank 10/ S.1013 MTN,Nederland 92/ Strip, Netherlands 04/ Netherlands 05/ Coupons, Netherlands 06/ Netherlands 06/ Netherlands 09/ Netherlands 11/ Nordic Investment Bank 09/ MTN, Nordrhein-Westfalen 01/ R.374 LSA, Nordrhein-Westfalen 04/ LSA, Nordrhein-Westfalen 05/ LSA R.627. Nordrhein-Westfalen 05/ LSA R.700. Nordrhein-Westfalen 07/ LSA MTN, Nordrhein-Westfalen 07/ LSA R.782. Nordrhein- Westfalen 07/ LSA R.776. Nordrhein-Westfalen 07/ LSA R.819. Nordrhein-Westfalen 07/ LSA R.808. Nordrhein-Westfalen 07/ LSA R.814. Nordrhein- Westfalen 07/ LSA R.790. Nordrhein-Westfalen 09/ LSA R.906. Nordrhein-Westfalen 10/ Nordrhein-Westfalen 10/ Nordrhein-Westfalen 10/ LSA R Nordrhein-Westfalen 10/ MTN LSA R Nordrhein-Westfalen 98/ LSA R.332. Nordrhein-Westfalen, Land 06/ MTN, Oesterreichische Kontrollbank 06/ MTN, Oesterreichische Kontrollbank 07/ MTN, Oesterreichische Kontrollbank 08/ MTN, Oesterreichische Kontrollbank 09/ MTN, Sachsen Anhalt 08/ A.12 LSA, Sachsen-Anhalt 02/ LSA, Sachsen-Anhalt 04/ A.19 LSA, Sachsen-Anhalt 06/ MTN LSA S.66. Sachsen-Anhalt 06/ Jumbo LSA, Sachsen-Anhalt 07/ Jumbo LSA, Sachsen-Anhalt 11/ A.13 LSA, Soc. Fin. Eco. Française 08/ Soc. Fin. Eco. Française 09/ Soc. Fin. Eco. Française 09/ Soc. Fin. Eco. Française 09/ Soc. Fin. Eco. Française 09/ Soc. Fin. Eco. Française 09/ Soc. Fin. Eco. Française 09/ MTN, Unedic 09/ Union Natle Interp.Em.Com.Ind. 11/ ) 16

19 DWS Institutional USD Money plus Investment portfolio June 30, 2011 Count/ Quantity/ Purchases/ Sales/ Total market % of Description currency principal additions disposals Market price value in net assets ( / 000) amount in the reporting period EUR Securities traded on an exchange Interest-bearing securities % Chapel 03/ S.1 Cl.A (XS ) EUR % % Deutsche Bank 07/ (XS ) EUR % % DnB NOR Bank 06/ MTN (XS ) EUR % % ING Bank 11/ MTN (XS ) EUR % % LB Baden-Württemberg 04/ R.230 IHS (DE000LBW14R9) EUR % % Norddt. Landesbank 04/ IHS MTN (XS ) EUR % % Société Générale 08/ MTN (XS ) EUR % % Unicredit 11/ MTN (XS ) EUR % % Arran Res. Mtge. F. No.2 06/ Cl.A3B 144a (US042707AH25) USD % % Banque Fédérative Crédit Mut. 06/ MTN (XS ) USD % % Barclays Bank 07/ MTN (XS ) USD % % BNP Paribas 10/ MTN (US05567LH757) USD % % BNP Paribas 11/ (US05567LS572).. USD % % Cie. Financement Foncier 10/ PF MTN 144a (US20428AAB52) USD % % Danske Bank 09/ MTN Reg S (XS ) USD % % Deutsche Bank 04/ MTN (XS ) USD % % Deutsche Hypothekenbank 10/ MTN HPF (DE000DHY2667) USD % % Dexia Credit Local (FR ) USD % % Erste Abwicklungsanstalt 11/ MTN IHS (XS ) USD % % HSBC Bank 11/ MTN 144a (US44328MAM64) USD % % HSH Nordbank 05/ IHS (DE000HSH0G91) USD % % LB Baden-Württemberg 05/ Ser.990 ÖPF (DE000LBW3NN6) USD % % LB Hessen-Thüringen 11/ H230 MTN ÖPF (XS ) USD % % Lunar Funding V/LBBW 05/ S.9 MTN (XS ) USD % % National Australian Bank 10/ MTN (US6325C0BA86) USD % % Natixis 06/ MTN (FR ).. USD % % Nederlandse Waterschapsbank 10/ MTN (XS ) USD % % NRW.BANK 10/ MTN (DE000NWB25A7) USD % % NRW.BANK 10/ MTN (XS ) USD % % RAMS Mtge. Securities 03/ S.1E Cl.1A (XS ) USD % % Regal/DB Bank Capital 99/ MTN S.17 (XS ) USD % % Royal Bank of Scotland 04/ MTN (XS ) USD % % Royal Bank of Scotland 05/ (XS ) USD % % Royal Bank of Scotland 06/ MTN (XS ) USD % % Siemens Financieringsmaatsch. 06/ MTN (XS ) USD % % Svenska Handelsbanken 09/ Reg S MTN (US86959NAC39) USD % % Total Capital Canada 11/ (US89153UAC53) USD %

20 DWS Institutional USD Money plus Count/ Quantity/ Purchases/ Sales/ Total market % of Description currency principal additions disposals Market price value in net assets ( / 000) amount in the reporting period EUR Securities that are admitted or included in organized markets Interest-bearing securities % American Express Bank FSB 07/ MTN (US02580EBV48) USD % % Dexia Crédit Local 10/ a (US25214BAD64) USD % % General Electric Capital 07/ MTN (US36962G2M58) USD % % ING Bank 11/ Reg S (USN3113TAP41) USD % % National Australia Bank 10/ MTN (US6325C1BA69) USD % % Sun Life Financial GLB 06/ MTN 144a Cl.3C7 (US86679WAA62) USD % Unlisted securities Interest-bearing securities % ABN AMRO Bank CD (FR ) USD % % Bayerische Landesbank 05/ MTN (US0727G0CZ15) USD % % Bayerische Landesbank (XS ) USD % % BMW (XS ) USD % % Bremer Landesbank Kreditanstalt (XS ) USD % % DZ Privatbank (XS )... USD % % FMS Wertmanagement (XS ) USD % % HSBC Bank 09/ MTN (XS ) USD % % Intesa Sanpaola 10/ S.YCD (US46115LUQ93) USD % % KBC Bank (BE ) USD % % Münchener Hypothekenbank (DE000MHB1BC6) USD % % Société Générale CD (FR ) USD % % UBS (London Branch) (XS ) USD % Total securities portfolio Derivatives Minus signs denote short positions Currency derivatives Currency futures (short) Open positions EUR/USD million Cash at bank Demand deposits at Custodian USD deposits USD % Deposits in EU/EEA currencies USD %

21 DWS Institutional USD Money plus Count/ Quantity/ Purchases/ Sales/ Total market % of Description currency principal additions disposals Market price value in net assets ( / 000) amount in the reporting period EUR Other assets Interest receivable USD % 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, 2011 Euro EUR = USD 1 Security prices and market rates The fund s assets are valued on the basis of the last known prices/market rates. The fund s assets are partially invested in products for which there was no liquid market as of the reporting date due to the financial market crisis. The valuation was therefore carried out with estimated current values based on indicative broker quotations or valuation models. 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 % ABN AMRO Bank 10/ MTN (XS ) EUR % Barclays Bank 10/ MTN (XS ) EUR % Skandinaviska Enskilda Banken 09/ MTN (XS ).... EUR % Spain 10/ (ES0L ).... EUR % American Express Travel Rel. Ser. 06/ MTN (XS ).... USD % Bank of Scotland 06/ MTN (XS ) USD % BNP Paribas 09/ MTN (XS ) USD % Crédit Agricole (London Br.) 06/ MTN (XS ).... USD % Dexia Crédit Local 10/ Reg S (XS ) USD % NRW. Bank 10/ MTN (XS ) USD % Perpetual Trustee 04/ S.Apollo (XS ) USD % Royal Bank of Scotland 05/ MTN (XS ) USD % Santander UK 06/ MTN (XS ) USD % Swedbank Hypotek 10/ MTN PF (XS ) USD % Commonwealth Bank Australia 08/ MTN (XS ).... USD % DZ PRIVATBANK Tr.46 (XS ) USD % KBC Bank (BE ).. USD % Münchener Hypothekenbk (DE000MHB80C1) USD % Natixis CD (FR ).. USD % Norddt. Landesbank Tr.1230 (XS ) USD % Pohjola Pankki CD (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 purchase currencies EUR/USD USD Futures contracts to sell currencies EUR/USD USD Unlisted securities Interest-bearing securities % Bank Nederlandse Gemeenten (XS ) USD % Bayerische Landesbank (XS ) USD

22 DWS Institutional SICAV June 30, 2011 Portfolio composition (in euro) DWS Institutional SICAV DWS Institutional Money plus DWS Institutional USD Money plus *) DWS Institutional Euroland Equities 130/30 Securities portfolio 5,584,355, ,899,365, ,119, ,291, Derivatives on individual securities - 4,057, Interest rate derivatives - 128, Currency derivatives - 3,362, ,786, , Swaps - 60, , Cash at bank 246,721, ,654, ,721, , Repayment claims from securities purchased under repurchase agreements 376,000, ,000, Other assets 29,437, ,055, , , Loan liabilities - 1,266, ,266, Other liabilities - 12,284, ,599, , , = Net assets 6,215,356, ,426,628, ,016, ,100, Fiscal six-month period ended June 30, USD = EUR 1 **) The portfolio composition of the U.S. dollar-denominated fund, DWS Institutional USD Money plus, was converted into euro at the stated exchange rates. 20

23 DWS Institutional Euro Government Bonds DWS Institutional Euro Corporate Bonds DWS Institutional Euro Collateralized Bonds DWS Institutional Cash Plus DWS Institutional OptiCash (EUR) DWS Institutional Short Duration Sovereign Fund (AAA) 67,277, ,428, ,005, ,723, ,164, ,980, ,057, , , , , , , , ,336, ,415, , ,000, ,465, , ,191, , ,607, , , , , , , ,246, ,816, ,126, ,267, ,456, ,696,

24

25 Investment Company DWS Institutional SICAV 2, Boulevard Konrad Adenauer L-1115 Luxembourg RC B Board of Directors of the Investment Company Klaus-Michael Vogel Chairman Executive Member of the Board of Directors of DWS Investment S.A., Luxembourg Executive Member of the Board of Directors of Deutsche Bank Luxembourg S.A., Luxembourg Manfred Bauer DWS Investment S.A., Luxembourg Michael Koschatzki DWS Investment GmbH, Frankfurt/Main Silvia Wagner Managing Director of DWS Finanz-Service GmbH, Frankfurt/Main Promoter and Management Company Board of Directors of the Management Company Wolfgang Matis (since February 1, 2011) Chairman Managing Director of DWS Investment GmbH, Frankfurt/Main Managing Director of DWS Holding & Service GmbH, Frankfurt/Main Ernst Wilhelm Contzen Executive Member of the Board of Directors der Deutsche Bank Luxembourg S.A., Luxembourg Heinz-Wilhelm Fesser Luxembourg Frank Kuhnke London Klaus-Michael Vogel Executive Member of the Board of Directors Member of the Management of Deutsche Bank Luxembourg S.A., Luxembourg Dorothee Wetzel DWS Investment GmbH, Frankfurt/Main Auditor KPMG Audit S.à r.l. 9. Allée Scheffer L-2520 Luxembourg Custodian State Street Bank Luxembourg S.A. 49. Avenue J. F. Kennedy L-1855 Luxembourg Fund Manager DWS Investment GmbH Mainzer Landstraße D Frankfurt/Main Sales, Information and Paying Agent LUXEMBOURG Deutsche Bank Luxembourg S.A. 2. Boulevard Konrad Adenauer L-1115 Luxembourg DWS Investment S.A. 2, Boulevard Konrad Adenauer L-1115 Luxembourg Capital stock as of December 31, 2010: EUR million Jochen Wiesbach Managing Director of DWS Finanz-Service GmbH, Frankfurt/Main Klaus Kaldemorgen (until January 31, 2011) DWS Investment GmbH, Frankfurt/Main Management Company Management Klaus-Michael Vogel Executive Member of the Board of Directors of DWS Investment S.A., Luxembourg Executive Member of the Board of Directors of Deutsche Bank Luxembourg S.A., Luxembourg Manfred Bauer DWS Investment S.A., Luxembourg Markus Kohlenbach (since March 1, 2011) DWS Investment S.A., Luxembourg Doris Marx DWS Investment S.A., Luxembourg Ralf Rauch DWS Investment S.A., Luxembourg Investment Advisor of the fund managers for the sub-fund DWS Institutional Alpha Overlay: QS Investors, LLC 880 Third Avenue New York, NY United States As of: July 31, 2011

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