DWS Invest Semiannual Report 2014

Transcription

1 Deutsche Asset & Wealth Management DWS Invest Semiannual Report 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 Invest SICAV DWS Invest Africa 8 DWS Invest Asia ex Japan 9 DWS Invest Asian Bonds 10 DWS Invest Asian Small/Mid Cap 11 DWS Invest Brazilian Equities 12 DWS Invest China Bonds 13 DWS Invest Chinese Equities 14 DWS Invest Clean Tech 15 DWS Invest Commodity Plus 16 DWS Invest Convertibles 17 DWS Invest Emerging Markets Corporates 18 DWS Invest Emerging Markets Satellites 19 DWS Invest Emerging Markets Top Dividend 20 DWS Invest Euro Bonds (Premium) 21 DWS Invest Euro Bonds (Short) 22 DWS Invest Euro Corporate Bonds 23 DWS Invest Euro High Yield Corporates 24 DWS Invest Euro-Gov Bonds 25 DWS Invest European Bonds 26 DWS Invest European Small Cap 27 DWS Invest European Value 28 DWS Invest German Equities 29 DWS Invest Global Agribusiness 30 DWS Invest Global Bonds 31 DWS Invest Global Emerging Markets Equities 32 DWS Invest Global GDP Bonds (formerly: DWS Invest Income Strategy Currency) 33 DWS Invest Global Infrastructure 34 DWS Invest Global Thematic 35 DWS Invest Gold and Precious Metals Equities 36 DWS Invest Government Liquidity Fund 37 DWS Invest Income Strategy Systematic 38 DWS Invest Italian Equities 39 DWS Invest Latin American Equities 40 DWS Invest Local Emerging Markets Bonds 41 1

4 DWS Invest Multi Asset Allocation 42 DWS Invest Multi Asset Balance (formerly: DWS Invest Multi Asset Defensive) 43 DWS Invest Multi Asset Defensive 44 DWS Invest Multi Asset Dynamic 45 DWS Invest Multi Asset Income 46 DWS Invest Multi Asset Total Return I (formerly: DWS Invest Multi Asset Dynamic) 47 DWS Invest Multi Opportunities 48 DWS Invest New Resources 49 DWS Invest RREEF Global Real Estate Securities 50 DWS Invest Short Duration Credit 51 DWS Invest StepIn Akkumula 52 DWS Invest Top Asia (formerly: DWS Invest Top 50 Asia) 53 DWS Invest Top Dividend 54 DWS Invest Top Dividend Premium 55 DWS Invest Top Euroland 56 DWS Invest Top Europe (formerly: DWS Invest European Equities) 57 DWS Invest US Value Equities 58 Investment portfolios for the reporting period 60 2

5 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). 3

6 Mergers of sub-funds of the SICAV with SICAV-external funds Following a resolution to that effect adopted by each respective Board of Directors and the approval of the Luxembourg supervisory authority CSSF, the sub-fund DWS Invest US Value Equities was merged into the sub-fund DWS Invest II US Top Dividend of DWS Invest II SICAV effective January 28, 2014: Merged sub-fund Receiving sub-fund Share class ISIN Share class ISIN Exchange factor LC LU LC LU LCH(P) LU LCH(P) LU FC LU FC LU NC LU NC LU E2 LU A2 LU NCH(P) LU NCH(P) LU The issue of new shares was discontinued for the terminating sub-fund on January 21, 2014; the last redemption of shares occurred up to the order acceptance deadline on January 21, Renamed sub-funds The sub-fund DWS Invest European Equities was renamed DWS Invest Top Europe effective May 26, The sub-fund DWS Invest Income Strategy Currency was renamed DWS Invest Global GDP Bonds effective May 26, The sub-fund DWS Invest Multi Asset Defensive was renamed DWS Invest European Multi Asset Balance effective May 26, The sub-fund DWS Invest Multi Asset Dynamic was renamed DWS Invest Multi Asset Total Return I effective May 26, The sub-fund DWS Invest Top 50 Asia was renamed DWS Invest Top Asia effective May 26,

7 Renamed share classes In order to harmonize and simplify the names of the share classes, those share classes not denominated in EUR were renamed effective May 26, In the new naming system, the currency name is placed in front and the system for EUR shares is applied: Old New Old New A1 USD LD E2 USD FC A1H USD LDH E2H USD FCH A1H (P) USD LDH (P) J5 USD JD A1M USD LDM K2 USD KC A1Q USD LDQ RDR1 GBP RD A2 USD LC RDR1H GBP RDH A2H USD LCH RMB2 RMB LC A2H (P) USD LCH (P) RMB4 RMB FC CH2H CHF LCH S1MH SGD LDMH CH2H (P) CHF LCH (P) S1Q SGD LDQ CH4H CHF FCH S1QH (P) SGD LDQH (P) CH4H (P) CHF FCH (P) S2 SGD LC DS1 GBP LD DS S2H (P) SGD LCH (P) Sub-fund DWS Invest Global Bonds: The share class LD was renamed LDH (P) effective May 26, Sub-fund DWS Invest Global Bonds: The share class FCD was renamed FCH (P) effective May 26,

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9 Semiannual report

10 DWS Invest Africa Performance of share classes vs. benchmark (in euro) Share class ISIN 6 months Class LC LU % Class LD LU % Class NC LU % Class FC LU % Class USD LC 1 LU % Class GBP RD 2 LU % S&P Africa 40 Net Index (in euro) 11.2% 1 in USD 2 in GBP BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST AFRICA Composition Equities Cash and other assets In % of the fund s net assets As of: June 30,

11 DWS Invest Asia ex Japan Performance of share classes vs. benchmark (in euro) Share class ISIN 6 months Class LC LU % Class LD LU % Class NC LU % Class FC LU % MSCI AC Asia ex Japan (in euro) 7.5% BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST ASIA EX JAPAN Investment focus by sector Equities: 84.7% Financials Information Technology Consumer Discretionaries Industrials Energy Telecommunication Services Materials Consumer Staples Utilities Warrants Investment funds Cash and other assets In % of the fund s net assets As of: June 30,

12 DWS Invest Asian Bonds Performance of share classes Share class ISIN Since inception 1 Class FCH LU % Class USD FC 2 LU % 1 Classes FCH and USD FC on June 16, in USD BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST ASIAN BONDS Composition Bonds* 27.5 Cash and other assets In % of the fund s net assets (* incl. pro-rata accrued interest) 100 As of: June 30,

13 DWS Invest Asian Small/Mid Cap Performance of share classes vs. benchmark (in euro) Share class ISIN 6 months Class LC LU % Class LD LU % Class NC LU % Class FC LU % Class LS LU % Class USD FC 1 LU % Class USD LC 1 LU % MSCI AC Asia ex Japan Small Cap since April 12, 2012 (in euro) (formerly: 9.7% FTSE Asia Pacific SmallCap ex Japan (Euro)) 1 in USD BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST ASIAN SMALL/MID CAP Investment focus by sector Equities: 92.8% Consumer Discretionaries Industrials Information Technology Energy Consumer Staples Financials Materials Health Care Telecommunication Services Utilities Cash and other assets In % of the fund s net assets As of: June 30,

14 DWS Invest Brazilian Equities Performance of share classes vs. benchmark (in euro) Share class ISIN 6 months Class FC LU % Class LC LU % Class NC LU % MSCI Brazil 10/40 in EUR 13.0% BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST BRAZILIAN EQUITIES Investment focus by sector Equities: 95.6% Financials Consumer Staples Utilities 11.7 Energy 9.3 Consumer Discretionaries Information Technology Materials Telecommunication Services Health Care Cash and other assets In % of the fund s net assets As of: June 30,

15 DWS Invest China Bonds Performance of share classes (in USD) Share class ISIN 6 months Class IDH 1 LU % Class LCH 1 LU % Class NCH 1 LU % Class FCH 1 LU % Class LDH 1 LU % Class NC 1 LU % Class CHF FCH 2 LU % Class CHF LCH 2 LU % Class RMB FC 3 LU % Class RMB LC 3 LU % Class USD FC LU % Class USD LC LU % Class NDH 1 LU % 4 Class PFCH 1 LU % 5 Class PFDQH 1 LU % 5 1 in euro 2 in CHF 3 in CNY 4 Since inception on January 20, Since inception on May 26, 2014 BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 Rating distribution of the bonds in the portfolio* AAA AA A BBB BB B 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 companys 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. As of: June 30, 2014 DWS INVEST CHINA BONDS Composition Bonds* Investment funds Cash and other assets In % of the fund s net assets (* incl. pro-rata accrued interest) As of: June 30,

16 DWS Invest Chinese Equities Performance of share classes vs. benchmark (in euro) Share class ISIN 6 months Class LC LU % Class NC LU % Class FC LU % Class USD FC 1 LU % Class USD LC 1 LU % Class GBP RD 2 LU % MSCI China 10/40 (in euro) 1.1% 1 in USD 2 in GBP BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST CHINESE EQUITIES Investment focus by sector Equities: 93.6%* Financials 27.9 Information Technology Health Care Industrials Consumer Discretionaries Utilities Energy Materials Telecommunication Services Consumer Staples Investment funds Cash and other assets In % of the fund s net assets * incl. REITs 2.0% As of: June 30,

17 DWS Invest Clean Tech Performance of share classes vs. benchmark (in euro) Share class ISIN 6 months Class LC LU % Class NC LU % Class FC LU % Class USD KC 1 LU % Class USD LC 1 LU % Class GBP RD 2 LU % WilderHill New Energy Global Innovation (in euro) 17.9% (introduced on December 21, 2010) 1 in USD 2 in GBP BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST CLEAN TECH Investment focus by sector Equities: 92.3% Electrical Components & Equipment Semiconductors Erneuerbare Energien Automobile Manufacturers Semiconductor Equipment Electricity Producers Construction Materials Industrial Conglomerates Oil/Gas - Exploration & Production Industrial Machinery Heavy Electrical Equipment Other sectors Cash and other assets In % of the fund s net assets As of: June 30,

18 DWS Invest Commodity Plus Performance of share classes (in euro) Share class ISIN 6 months Class LC LU % Class NC LU % Class FC LU % Class USD FC 1 LU % Class USD LC 1 LU % 1 in USD BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST COMMODITY PLUS Composition Energy Agricultural Raw Materials Precious Metals Industrial Metals Livestock In % of the fund s net assets in securities As of: June 30,

19 DWS Invest Convertibles Performance of share classes vs. benchmark (in euro) Share class ISIN 6 months Class LC LU % Class LD LU % Class NC LU % Class FC LU % Class FD LU % Class FC (CE) LU % Class USD FCH 1 LU % Class USD LCH 1 LU % Class GBP RDH 2 LU % Class CHF FCH 3 LU % Class CHF LCH 3 LU % 4 Class LD (CE) LU % 5 Class PFC LU % 6 ML Global 300 Convertible (hedged in euro) since September 1, % (formerly: ML Global 300 Convertible) 1 in USD 2 in GBP 3 in CHF 4 since inception on March 24, since inception on June 4, since inception on May 26, 2014 BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST CONVERTIBLES Rating distribution of the bonds in the portfolio* AAA AA A BBB BB B 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 companys 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. As of: June 30,

20 DWS Invest Emerging Markets Corporates Performance of share classes vs. benchmark (in USD) Share class ISIN 6 months Class USD FC LU % Class USD LC LU % Class USD LD LU % Class USD LDM LU % Class LC (BRIC) 1 LU % Class LC (CC) 1 LU % Class FCH 1 LU % Class LCH 1 LU % Class LDH 1 LU % Class NCH 1 LU % Class NDH 1 LU % Class SGD LC 2 LU % Class SGD LDMH 2 LU % Class PFCH 1 LU % 3 Class PFDQH 1 LU % 3 JPM CEMBI since July 1, 2010 (previously: JPM Euro EMBI Global Diversified Comp.) 7.1% 1 in euro 2 in SGD 3 Since inception on May 26, 2014 BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST EMERGING MARKETS CORPORATES Composition Bonds* Cash and other assets In % of the fund s net assets (* incl. pro-rata accrued interest) As of: June 30,

21 DWS Invest Emerging Markets Satellites Performance of share classes vs. benchmark (in euro) Share class ISIN 6 months Class FC LU % Class LC LU % Class LD LU % Class NC LU % Class SGD LC 1 LU % Class USD LC 2 LU % MSCI EM + FM ex Selected Countries Capp. EUR (in euro) 12.1% 1 in SGD 2 in USD BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST EMERGING MARKETS SATELLITES Investment focus by sector Equities: 76.0% Financials Consumer Staples Consumer Discretionaries Industrials Telecommunication Services Energy Utilities Materials Health Care Investment funds Warrants Cash and other assets In % of the fund s net assets As of: June 30,

22 DWS Invest Emerging Markets Top Dividend Performance of share classes Share class ISIN 6 months Class LC LU % Class LD LU % Class NC LU % Class FC LU % Class USD FC 1 LU % Class USD LC 1 LU % Class USD LDQ 1 LU % Class SGD LCH (P) 2 LU % Class SGD LDQH (P) 2 LU % Class PFC LU % 3 Class PFD LU % 3 1 in USD 2 in SGD 3 Since inception on May 26, 2014 BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST EMERGING MARKETS TOP DIVIDEND Investment focus by sector Equities: 98.7% Financials Information Technology Telecommunication Services Consumer Staples 8.6 Industrials 7.7 Energy 7.4 Materials 6.7 Consumer Discretionaries 5.3 Utilities 3.4 Health Care 1.7 Cash and other assets In % of the fund s net assets As of: June 30,

23 DWS Invest Euro Bonds (Premium) Performance of share classes vs. benchmark (in euro) Share class ISIN 6 months Class LC LU % Class LD LU % Class NC LU % Class FC LU % 70% iboxx Sovereigns and 30% iboxx Collateralized 6.2% (introduced on September 1, 2009) in euro BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST EURO BONDS (PREMIUM) Composition Bonds* 96.8 Cash and other assets In % of the fund s net assets (* incl. pro-rata accrued interest) As of: June 30,

24 DWS Invest Euro Bonds (Short) Performance of share classes vs. benchmark (in euro) Share class ISIN 6 months Class LC LU % Class LD LU % Class NC LU % Class FC LU % Class PFC LU % 1 Class PFDQ LU % 1 iboxx Overall 1-3Y since September 1, 2009 (formerly: REXP 2Y) 1.3% 1 Launched on May 26, 2014 BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST EURO BONDS (SHORT) Rating distribution of the bonds in the portfolio* AAA AA A BBB 1.7 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 companys 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. As of: June 30, 2014 DWS INVEST EURO BONDS (SHORT) Composition Bonds* Investment funds Cash and other assets In % of the fund s net assets (* incl. pro-rata accrued interest) As of: June 30,

25 DWS Invest Euro Corporate Bonds Performance of share classes vs. benchmark (in euro) Share class ISIN 6 months Class LC LU % Class LD LU % Class NC LU % Class FC LU % Class PFC LU % 1 Class PFDQ LU % 1 iboxx Corporate since September 1, 2009 (formerly: ML EMU Corporate) 4.9% 1 Since inception on May 26, 2014 BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST EURO CORPORATE BONDS Rating distribution of the bonds in the portfolio* AAA AA A BBB BB B 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 companys 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. As of: June 30, 2014 DWS INVEST EURO CORPORATE BONDS Composition Bonds* Investment funds Cash and other assets In % of the fund s net assets (* incl. pro-rata accrued interest) As of: June 30,

26 DWS Invest Euro High Yield Corporates Performance of share classes vs. benchmark (in euro) Share class ISIN 6 months Class FC LU % Class LC LU % Class LD LU % Class NC LU % Class FD LU % Class ND LU % 1 Class PFC LU % 2 Class PFQD LU % 2 ML Euro BB-B Non-Financial Fixed & FRN HY Constr. Index 4.8% 1 Since inception on January 31, Since inception on May 26, 2014 BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST EURO HIGH YIELD CORPORATES Rating distribution of the bonds in the portfolio* BBB BB B CCC 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 companys 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. As of: June 30, 2014 DWS INVEST EURO HIGH YIELD CORPORATES Composition Bonds* Equities Cash and other assets In % of the fund s net assets (* incl. pro-rata accrued interest) As of: June 30,

27 DWS Invest Euro-Gov Bonds Performance of share classes vs. benchmark (in euro) Share class ISIN 6 months Class LC LU % Class LD LU % Class NC LU % Class FC LU % iboxx Sovereign Eurozone Overall in euro 7.0% BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST EURO-GOV BONDS Rating distribution of the bonds in the portfolio* AAA AA BBB 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 companys 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. As of: June 30, 2014 DWS INVEST EURO-GOV BONDS Composition Bonds* Cash and other assets In % of the fund s net assets (* incl. pro-rata accrued interest) As of: June 30,

28 DWS Invest European Bonds Performance of share classes (in euro) Share class ISIN 6 months Class FC LU % BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST EUROPEAN BONDS Rating distribution of the bonds in the portfolio* A BBB BB AAA AA A BBB In % of the fund s net assets in bonds (incl. pro-rata accrued interest) 2.4 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 * Average values based primarily on ratings by Standard & Poor s, Moody s and Fitch 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 companys 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. As of: June 30, 2014 DWS INVEST EUROPEAN BONDS Composition Bonds* Cash and other assets In % of the fund s net assets (* incl. pro-rata accrued interest) As of: June 30,

29 DWS Invest European Small Cap Performance of share classes vs. benchmark (in euro) Share class ISIN 6 months Class LC LU % Class LD LU % Class NC LU % Class FC LU % Class ID LU % STOXX Europe Small 200 since May 27, 2013, formerly: 50% STOXX Europe Mid 200, 5.4% 50% STOXX Europe Small 200 BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST EUROPEAN SMALL CAP Investment focus by sector Equities: 97.4% Industrials 28.3 Financials Consumer Discretionaries Information Technology 11.4 Consumer Staples 7.8 Health Care Energy Materials Not classified by MSCI system Cash and other assets In % of the fund s net assets As of: June 30,

30 DWS Invest European Value Performance of share classes vs. benchmark (in euro) Share class ISIN 6 months Class LC LU % Class LD LU % Class NC LU % Class FC LU % MSCI Europe Value since April 1, 2012, in euro 7.5% (formerly: MSCI Europe High Dividend Yield) BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST EUROPEAN VALUE Investment focus by sector Equities: 98.8% Financials Energy Telecommunication Services Materials Consumer Discretionaries Utilities Industrials Health Care Information Technology Consumer Staples Cash and other assets In % of the fund s net assets As of: June 30,

31 DWS Invest German Equities Performance of share classes vs. benchmark (in euro) Share class ISIN 6 months Class FC LU % Class LC LU % Class LD LU % Class NC LU % Class USD LC 2 LU % Class USD LCH 2 LU % Class PFC LU % 1 CDAX 3.3% 1 Since inception on May 26, in USD BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST GERMAN EQUITIES Investment focus by sector Equities: 90.4% Consumer Discretionaries Industrials 17.3 Health Care Materials Financials Information Technology 8.8 Telecommunication Services 3.1 Consumer Staples 0.8 Cash and other assets In % of the fund s net assets As of: June 30,

32 DWS Invest Global Agribusiness Performance of share classes (in USD) Share class ISIN 6 months Class USD FC LU % Class USD JD LU % Class USD LC LU % Class LC 2 LU % Class LD 2 LU % Class NC 2 LU % Class FC 2 LU % Class GBP RD 3 LU % Class GBP LD DS 3 LU % Class FCH (P) 2 LU % Class PFC LU % 1 1 Launched on May 26, 2014 / first price calculation on May 27, in euro 3 in GBP BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST GLOBAL AGRIBUSINESS Investment focus by sector Equities: 99.5% Fertilizers & Agricultural Chemicals 38.6 Agricultural Products Food Products & Meat Food Retail Diversified Chemicals Brewers Marine Ports & Services Full-Service Banks Gastronomy Railroads Pharmaceuticals Other sectors Cash and other assets In % of the fund s net assets As of: June 30,

33 DWS Invest Global Bonds Performance of share classes (in euro) Share class ISIN 6 months Class FCH (P) LU % Class LDH (P) LU % 1 Class PFCH (P) LU % 2 Class PFDQH (P) LU % 2 Class LCH (P) LU % 3 Class NCH (P) LU % 3 Class GBP IDH (P) 5 LU % 4 1 since inception on February 17, since inception on May 26, since inception on June 4, since inception on June 16, in GBP BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST GLOBAL BONDS Rating distribution of the bonds in the portfolio* AAA AA A BBB BB AAA AA A BBB In % of the fund s net assets in bonds (incl. pro-rata accrued interest) 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 * Average values based primarily on ratings by Standard & Poor s, Moody s and Fitch 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 companys 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. As of: June 30,

34 DWS Invest Global Emerging Markets Equities Performance of share classes vs. benchmark (in euro) Share class ISIN 6 months Class LC LU % Class LD LU % Class NC LU % Class FC LU % Class USD FC 2 LU % Class USD LC 2 LU % Class PFC LU % 1 MSCI Emerging Markets (in euro) since May 27, 2013 (previously: MSCI BRIC (in euro)) 7.2% 1 since inception on May 26, in USD BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST GLOBAL EMERGING MARKETS EQUITIES Investment focus by sector Equities: 89.9% Financials 30.6 Information Technology 19.7 Consumer Staples Consumer Discretionaries Energy Telecommunication Services Materials Industrials Health Care Not classified by MSCI system Investment funds Cash and other assets In % of the fund s net assets As of: June 30,

35 DWS Invest Global GDP Bonds (formerly: DWS Invest Income Strategy Currency) Performance of share classes (in euro) Share class ISIN 6 months Class LC LU % Class NC LU % Class FC LU % BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30,

36 DWS Invest Global Infrastructure Performance of share classes vs. benchmark (in euro) Share class ISIN 6 months Class LC LU % Class LD LU % Class NC LU % Class FC LU % Class USD LC 3 LU % Class USD FC 3 LU % 1 Class GBP RD 4 LU % 2 Class CHF LCH 5 LU % DJ Brookfield Global Infrastructure since November 29, 2013, (formerly: 17.8% UBS Developed Infrastructure & Utilities) in euro 1 Since inception on March 24, Since inception on June 4, in USD 4 in GBP 5 in CHF BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST GLOBAL INFRASTRUCTURE Investment focus by sector Equities: 99.6%* Oil/Gas Storage & Transport Multi-Utilities Specialized REITs Highways & Railtracks Railroads Water Utilities Gas Utilities Electric Utilities Wireless Telecom. Services Cable & Satellite Transmission Marine Ports & Services Other sectors Cash and other assets In % of the fund s net assets (* incl. REITs 7.7%) As of: June 30,

37 DWS Invest Global Thematic Performance of share classes vs. benchmark (in USD) Share class ISIN 6 months Class USD FC LU % Class USD LC LU % Class LC 1 LU % Class FC 1 LU % Class NC 1 LU % Class GBP FC 2 LU % Class GBP RD 2 LU % MSCI World EUR 6.8% 1 in euro 2 in GBP BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST GLOBAL THEMATIC Composition Equities: 96.6% Financials 21.9 Consumer Discretionaries Information Technology Industrials Consumer Staples Health Care Materials Energy 6.4 Telecommunication Services 4.3 Utilities Certificates Cash and other assets In % of the fund s net assets As of: June 30,

38 DWS Invest Gold and Precious Metals Equities Performance of share classes (in USD) Share class ISIN 6 months Class USD FC LU % Class USD LC LU % Class LC 1 LU % Class LD 1 LU % Class NC 1 LU % Class FC 1 LU % 1 in euro BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST GOLD AND PRECIOUS METALS EQUITIES Investment focus by sector Equities: 96.9% Gold Precious Metals & Minerals Silver Diversified Metals/Mining Investment funds Cash and other assets In % of the fund s net assets As of: June 30,

39 DWS Invest Government Liquidity Fund Performance of share classes (in euro) Share class ISIN 6 months Class NC LU % Class ND LU % Class FC LU % Class USD LCH 1 LU % Class USD LDH 1 LU % 1 in USD BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST GOVERNMENT LIQUIDITY FUND Rating distribution of the bonds in the portfolio* AAA AA A 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 companys 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. As of: June 30,

40 DWS Invest Income Strategy Systematic Performance of share classes (in euro) Share class ISIN 6 months Class FC LU % Class LD LU % Class LC LU % Class NC LU % 38

41 DWS Invest Italian Equities Performance of share classes vs. benchmark (in euro) Share class ISIN 6 months Class LC LU % Class NC LU % Class FC LU % FTSE MIB since January 1, 2011, (previously: MIB 30) in euro 12.2% BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST ITALIAN EQUITIES Investment focus by sector Equities: 95.3% Financials 39.4 Utilities Consumer Discretionaries Energy Industrials Telecommunication Services Consumer Staples Health Care Materials Not classified by MSCI system Cash and other assets In % of the fund s net assets As of: June 30,

42 DWS Invest Latin American Equities Performance of share classes vs. benchmark (in euro) Share class ISIN 6 months Class FC LU % Class LC LU % Class NC LU % Class USD LC 1 LU % MSCI EM Latin America 10/40 Net TR in euro 8.0% 1 in USD BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST LATIN AMERICAN EQUITIES Investment focus by sector Equities: 95.0% Consumer Staples 32.6 Financials 29.2 Consumer Discretionaries Utilities Energy Industrials Information Technology Telecommunication Services Health Care Bonds* Cash and other assets In % of the fund s net assets (* incl. pro-rata accrued interest) 40 As of: June 30,

43 DWS Invest Local Emerging Markets Bonds Performance of share classes (in USD) Share class ISIN 6 months Class USD FC LU % 2 Class USD LC LU % 2 Class FCH 1 LU % Class LCH 1 LU % Class LDH 1 LU % Class NCH 1 LU % Class NDH 1 LU % JPM GBI-EM Global Diversified Comp. (introduced on March 25, 2013) 2.1% 1 in euro 2 last share price calculation on March 20, 2014 BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST LOCAL EMERGING MARKETS BONDS Composition Bonds* 94.7 Cash and other assets In % of the fund s net assets (* incl. pro-rata accrued interest) As of: June 30,

44 DWS Invest Multi Asset Allocation Performance of share classes (in euro) Share class ISIN 6 months Class LC LU % Class LD LU % Class NC LU % Class FC LU % BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST MULTI ASSET ALLOCATION Composition Bonds* Investment funds Cash and other assets In % of the fund s net assets As of: June 30,

45 DWS Invest Multi Asset Balance (formerly: DWS Invest Multi Asset Defensive) Performance of share classes Share class ISIN Since inception 1 Class LC LU % 1 Class LC launched on January 31, 2014 BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST MULTI ASSET BALANCE Composition Equities Bonds* Investment funds Cash and other assets In % of the fund s net assets (* incl. pro-rata accrued interest) As of: June 30,

46 DWS Invest Multi Asset Defensive Performance of share classes (in euro) Share class ISIN Since inception 1 Class LC LU % Class LD LU % Class NC LU % 1 Classes LC, LD and NC launched on June 16, 2014 BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST MULTI ASSET DEFENSIVE Composition Bonds* Investment funds Equities Cash and other assets In % of the fund s net assets (* incl. pro-rata accrued interest) As of: June 30,

47 DWS Invest Multi Asset Dynamic Performance of share classes (in euro) Share class ISIN Since inception 1 Class LC LU % Class NC LU % 1 Classes LC and NC launched on June 16, 2014 BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST MULTI ASSET DYNAMIC Composition Equities Bonds* Investment funds Cash and other assets In % of the fund s net assets (* incl. pro-rata accrued interest) As of: June 30,

48 DWS Invest Multi Asset Income Performance of share classes (in euro) Share class ISIN Since inception 1 Class LD LU % Class ND LU % 1 Classes LD and ND launched on June 4, 2014 BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST MULTI ASSET INCOME Composition Equities Bonds* Investment funds Cash and other assets In % of the fund s net assets (* incl. pro-rata accrued interest) As of: June 30,

49 DWS Invest Multi Asset Total Return I (formerly: DWS Invest Multi Asset Dynamic) Performance of share classes (in euro) Share class ISIN Since inception 1 Class LC LU % 1 Class LC launched on January 31, 2014 BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST MULTI ASSET TOTAL RETURN I Composition Equities Bonds* Investment funds Certificates Cash and other assets In % of the fund s net assets (* incl. pro-rata accrued interest) As of: June 30,

50 DWS Invest Multi Opportunities Performance of share classes (in euro) Share class ISIN Since inception 1 Class LC LU % Class NC LU % Class LDQ LU % Class NDQ LU % Class PFC LU % Class PFDQ LU % 1 Classes LC, NC, LDQ, NDQ, PFC and PFDQ launched on June 4, 2014 BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST MULTI OPPORTUNITIES Composition Investment funds Equities Bonds* Cash and other assets In % of the fund s net assets (* incl. pro-rata accrued interest) As of: June 30,

51 DWS Invest New Resources Performance of share classes (in euro) Share class ISIN 6 months Class LC LU % Class LD LU % Class NC LU % Class FC LU % Class USD FC 1 LU % Class USD LC 1 LU % 1 in USD BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST NEW RESOURCES Investment focus by sector Equities: 97.0% Industrial Machinery Semiconductors Construction & Engineering Auto Components & Equipment Water Utilities Food Products & Meat Agricultural Products Industrial Conglomerates Const./Ag. Machnry & Hvy Trans. Multi-Utilities Specialty Chemicals Other sectors Cash and other assets In % of the fund s net assets As of: June 30,

52 DWS Invest RREEF Global Real Estate Securities Performance of share classes (in euro) vs. benchmark (in USD) Share class ISIN 6 months Class USD FC LU % Class USD LC LU % Class LD 1 LU % FTSE EPRA/NAREIT Developed Index since May 26, 2014 (previously: FTSE EPRA/NAREIT Developed Global REIT since November 29, 2013), 16.0% (previously: FTSE EPRA/NAREIT Developed Global REIT (Hedged)) 1 in euro BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST RREEF GLOBAL REAL ESTATE SECURITIES Investment focus by sector Equities: 98.9% Retail REITs Misc. REITs Misc. real estate Office REITs Residential REITs Real estate operating companies REITs Health Care REITs Hotels & Resorts Industrial REITs Specialized REITs Real estate development Cash and other assets In % of the fund s net assets As of: June 30,

53 DWS Invest Short Duration Credit Performance of share classes (in euro) vs. benchmark (in euro) Share class ISIN 6 months Class LC LU % Class NC LU % Class FC LU % Class LD LU % 1 iboxx Corp 1-3Y (since August 16, 2011) in euro 1.4% 1 Since inception on January 31, 2014 BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST SHORT DURATION CREDIT Composition Bonds* Cash and other assets In % of the fund s net assets (* incl. pro-rata accrued interest) As of: June 30,

54 DWS Invest StepIn Akkumula Performance of share classes (in euro) Share class ISIN 6 months Class BC LU % Class LC LU % BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST STEPIN AKKUMULA Composition Equities Cash and other assets In % of the fund s net assets As of: June 30,

55 DWS Invest Top Asia (formerly: DWS Invest Top 50 Asia) Performance of share classes (in euro) vs. benchmark (in euro) Share class ISIN 6 months Class LC LU % Class LD LU % Class NC LU % Class FC LU % Class USD FC 1 LU % Class USD LC 1 LU % Class GBP RD 2 LU % 50% MSCI AC Far East, 50% MSCI AC Far East ex Japan (in euro) 5.0% 1 in USD 2 in GBP BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST TOP ASIA Investment focus by sector Equities: 94.2% Financials 30.6 Information Technology Consumer Discretionaries Industrials Consumer Staples Telecommunication Services Materials Energy Certificates Warrants Investment funds Cash and other assets In % of the fund s net assets As of: June 30,

56 DWS Invest Top Dividend Performance of share classes (in euro) Share class ISIN 6 months Class LC LU % Class LD LU % Class NC LU % Class FC LU % Class ND LU % Class FD LU % Class GBP LD DS 3 LU % Class GBP RD 3 LU % Class CHF FCH (P) 4 LU % Class CHF LCH (P) 4 LU % Class PFC LU % 1 Class PFD LU % 1 Class IDH (P) LU % 2 Class SGD LC 5 LU % Class SGD LCH (P) 5 LU % Class SGD LDQ 5 LU % Class SGD LDQH (P) 5 LU % Class USD FC 6 LU % Class USD LC 6 LU % Class USD LCH (P) 6 LU % Class USD LDH (P) 6 LU % Class USD LDQ 6 LU % 1 Since inception on May 26, Since inception on June 4, in GBP 4 in CHF 5 in SGD 6 in USD BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST TOP DIVIDEND Investment focus by sector Equities: 93.9% Consumer Staples Health Care Financials Energy Telecommunication Services Utilities Information Technology Consumer Discretionaries Materials Industrials Cash and other assets In % of the fund s net assets As of: June 30,

57 DWS Invest Top Dividend Premium Performance of share classes (in euro) Share class ISIN 6 months Class LC LU % Class LD LU % Class FC LU % Class USD LC 1 LU % Class ND LU % Class NDQ LU % 1 in USD BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST TOP DIVIDEND PREMIUM Investment focus by sector Equities: 84.3% Consumer Staples Financials Health Care Energy Telecommunication Services Utilities Information Technology Consumer Discretionaries Materials Industrials Cash and other assets In % of the fund s net assets As of: June 30,

58 DWS Invest Top Euroland Performance of share classes (in euro) vs. benchmark (in euro) Share class ISIN 6 months Class LC LU % Class LD LU % Class NC LU % Class FC LU % Class USD LCH 4 LU % Class GDB RD 5 LU % Class IC LU % 1 Class PFC LU % 2 Class SGD LCH (P) 6 LU % 3 EURO STOXX 50 since September 1, 2009, (formerly: DJ STOXX 50) in euro 6.3% 1 Since inception on April 25, Since inception on May 26, Since inception on June 16, in USD 5 in GBP 6 in SGD BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST TOP EUROLAND Investment focus by sector Equities: 97.4% Financials 28.2 Consumer Discretionaries Industrials Consumer Staples Information Technology Materials Telecommunication Services Health Care Utilities Energy Cash and other assets In % of the fund s net assets 35 As of: June 30,

59 DWS Invest Top Europe (formerly: DWS Invest European Equities) Performance of share classes (in euro) vs. benchmark (in euro) Share class ISIN 6 months Class LC LU % Class LD LU % Class NC LU % Class FC LU % Class USD LC 1 LU % MSCI Europe EUR 6.7% 1 in USD BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2014 DWS INVEST TOP EUROPE Investment focus by sector Equities: 97.9%* Financials Consumer Discretionaries Industrials Health Care Materials Consumer Staples Information Technology Telecommunication Services Utilities Energy Certificates Cash and other assets In % of the fund s net assets As of: June 30, 2014 (* incl. REITs 1.4%) 57

60 DWS Invest US Value Equities Performance of share classes (in euro) vs. benchmark (in euro) Share class ISIN Since beginning of fiscal year Class LC LU % Class LCH (P) LU % Class NC LU % Class NCH (P) LU % Class FC LU % Class E2 1 LU % S&P 500 (in euro) -2.0% 1 in USD BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: January 28, 2014 (liquidation date) 58

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

62 DWS Invest Africa Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Sefalana Holding Co.... Count BWP Africa Oil Corp.... Count CAD First Quantum Minerals Ltd... Count CAD Commercial International Bank... Count EGP Egyptian Financial Group-Hermes Holding... Count EGP Ezz Steel... Count EGP Ghabbour Auto... Count EGP Juhayna Food Industries... Count EGP Orascom Telecom Holding SAE... Count EGP Palm Hills Developments SAE... Count EGP Six of October Development & Investment... Count EGP Talaat Moustafa Group... Count EGP Telecom Egypt... Count EGP ADC African Development Corp. AG... Count EUR Banco BPI SA... Count EUR Banco Comercial Portugues SA... Count EUR Mota-Engil SGPS SA... Count EUR Afren Plc... Count GBP Lekoil Ltd... Count GBP Old Mutual Plc... Count GBP Petra Diamonds Ltd... Count GBP Randgold Resources Ltd... Count GBP Seplat Petroleum Development Company Plc... Count GBP Barclays Bank of Kenya Ltd... Count KES Co-operative Bank of Kenya Ltd... Count KES East African Breweries Ltd... Count KES Equity Bank Ltd... Count KES KenolKobil Ltd Group... Count KES Safaricom Ltd... Count KES TransCentury Ltd... Count KES Uchumi Supermarkets Ltd... Count KES Umeme Ltd... Count KES Attijariwafa Bank... Count MAD Managem... Count 100 MAD Access Bank Plc... Count NGN Cadbury Nigeria Plc... Count NGN Dangote Cement Plc... Count NGN Diamond Bank Plc... Count NGN Ecobank Transnational, Inc.... Count NGN FBN Holdings Plc... Count NGN First City Monument Bank Plc... Count NGN Flour Mills of Nigeria Plc... Count NGN Guaranty Trust Bank Plc... Count NGN International Breweries Plc... Count NGN Lafarge Cement WAPCO Nigeria Plc... Count NGN Nestle Nigeria Plc... Count NGN PZ Cussons Nigeria Plc... Count NGN Skye Bank Plc... Count NGN United Bank for Africa Plc... Count NGN Zenith Bank Plc... Count NGN Cobalt International Energy, Inc.... Count USD Global Telecom Holding -GDR-... Count USD Ecobank Transnational, Inc.... Count XOF African Rainbow Minerals Ltd... Count ZAR Barclays Africa Group Ltd... Count ZAR Brait SE... Count ZAR DataTec Ltd... Count ZAR Discovery Holdings Ltd... Count ZAR FirstRand Ltd... Count ZAR Mondi Ltd... Count ZAR MTN Group Ltd... Count ZAR Nampak Ltd... Count ZAR Naspers Ltd -N-... Count ZAR Nedbank Group Ltd... Count ZAR Omnia Holdings Ltd... Count ZAR Sasol Ltd... Count ZAR Shoprite Holdings Ltd... Count ZAR Tiger Brands Ltd... Count ZAR Unlisted securities Equities ishares Developed Small-Cap ex North America ETF -Rights Exp 31Dec49... Count EUR Total securities portfolio Cash at bank

63 DWS Invest Africa Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Deposits in other EU/EEA currencies British pound... GBP Swedish krona.... SEK Deposits in non-eu/eea currencies Egyptian pound.... EGP Australian dollar.... AUD Canadian dollar... CAD Kenyan shilling.... KES Moroccan dirham... MAD Nigerian naira.... NGN Swiss franc.... CHF South African rand.... ZAR U.S. dollar.... USD Botswana pula.... BWP Other assets Dividends receivable Receivables from exceeding the expense cap Other receivables Receivables from share certificate transactions Total assets Short-term liabilities EUR loans.... EUR Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class LD... EUR Class NC.... EUR Class GBP RD.... GBP Class USD LC.... USD Number of shares outstanding Class FC... Count Class LC... Count Class LD... Count Class NC.... Count Class GBP RD.... Count 237 Class USD LC.... Count Composition of the reference portfolio (according to CSSF circular 11/512) MSCI EFM AFRICA - Total Return Net Dividend in EUR 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 June 30, 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 0.0, whereby the total of the nominal amounts of the derivatives 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. 61

64 DWS Invest Africa Exchange rates (indirect quotes) As of June 30, 2014 Australian dollar.... AUD = EUR 1 Botswana pula.... BWP = EUR 1 Canadian dollar... CAD = EUR 1 Swiss franc.... CHF = EUR 1 Egyptian pound.... EGP = EUR 1 British pound... GBP = EUR 1 Kenyan shilling.... KES = EUR 1 Moroccan dirham... MAD = EUR 1 Nigerian naira.... NGN = EUR 1 Swedish krona.... SEK = EUR 1 U.S. dollar.... USD = EUR 1 CFA franc.... XOF = EUR 1 South African rand.... ZAR = EUR 1 Notes on 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. Assets reported in this report are not valued at derived market values. 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/ units/ currency Purchases/ additions Sales/ disposals Securities traded on an exchange Equities African Petroleum.... Count AngloGold Ashanti Ltd.... Count Arabian Cement Company... Count Caracal Energy, Inc.... Count Fastnet Oil & Gas Plc.... Count Guinness Nigeria Plc.... Count Kenya Commercial Bank Ltd.... Count London Mining Plc.... Count Maurel & Prom Nigeria.... Count Murray & Roberts Holdings Ltd... Count Nigerian Breweries Plc.... Count Ophir Energy Plc... Count Raubex Group Ltd.... Count Sefalana Holding Co. -Rights Exp 15May Count Standard Bank Group Ltd... Count Tullow Oil Plc.... Count Zambeef Products Plc... Count

65 DWS Invest Asia ex Japan Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities AIA Group Ltd.... Count HKD Anhui Conch Cement Co., Ltd -H-.... Count HKD Beijing Enterprises Holdings Ltd.... Count HKD China Construction Bank Corp. -H-.... Count HKD China Gas Holdings Ltd.... Count HKD China Life Insurance Co., Ltd -H-... Count HKD China Merchants Bank Co., Ltd -H-.... Count HKD China Mobile Ltd.... Count HKD China Oilfield Services Ltd -H-.... Count HKD China Overseas Land & Investment Ltd.... Count HKD China Resources Power Holdings Co., Ltd.... Count HKD China State Construction International Holdings Ltd... Count HKD China Unicom Hong Kong Ltd.... Count HKD CNOOC Ltd.... Count HKD Dongfeng Motor Group Co., Ltd -H-.... Count HKD Great Wall Motor Co., Ltd -H-.... Count HKD Haier Electronics Group Co., Ltd.... Count HKD Haitong Securities Co., Ltd... Count HKD Huadian Fuxin Energy Corp. Ltd... Count HKD Industrial & Commercial Bank of China -H-.... Count HKD Minth Group Ltd.... Count HKD PetroChina Co., Ltd.... Count HKD Ping An Insurance Group Co. of China Ltd.... Count HKD SA SA International Holdings Ltd.... Count HKD Samsonite International SA.... Count HKD Sands China Ltd... Count HKD Shenzhou International Group Holdings Ltd.... Count HKD Techtronic Industries Co. -H-.... Count HKD Tencent Holdings Ltd... Count HKD VTech Holdings Ltd.... Count HKD Want Want China Holdings Ltd.... Count HKD Wharf Holdings Ltd.... Count HKD Zhuzhou CSR Times Electric Co., Ltd -H-.... Count HKD Bank Mandiri Tbk PT.... Count IDR Bank Rakyat Indonesia Persero Tbk PT... Count IDR Indocement Tunggal Prakarsa Tbk PT.... Count IDR Matahari Department Store Tbk PT... Count IDR Multipolar Tbk PT... Count IDR Telekomunikasi Indonesia Persero Tbk PT... Count IDR Doosan Infracore Co., Ltd.... Count KRW Eugene Technology Co., Ltd.... Count KRW Hana Financial Group, Inc.... Count KRW Hynix Semiconductor, Inc.... Count KRW Hyundai Department Store Co., Ltd.... Count KRW Hyundai Motor Co.... Count KRW Hyundai Wia Corp.... Count KRW Kangwon Land, Inc.... Count KRW LG Chem Ltd.... Count KRW Samsung C&T Corp..... Count KRW Samsung Heavy Industries Co., Ltd.... Count KRW Shinhan Financial Group Co., Ltd... Count KRW Shinsegae Co., Ltd... Count KRW SK Innovation Co., Ltd.... Count KRW SK Telecom Co., Ltd.... Count KRW Eleven Malaysia Holdings Bhd.... Count MYR AirAsia BhD.... Count MYR Gamuda Bhd.... Count MYR RHB Capital Bhd.... Count MYR Sapurakencana Petroleum Bhd... Count MYR Alliance Global Group, Inc.... Count PHP Ayala Land, Inc... Count PHP Metropolitan Bank & Trust... Count PHP Universal Robina Corp..... Count PHP DBS Group Holdings Ltd.... Count SGD Ezion Holdings Ltd... Count SGD SembCorp Marine Ltd.... Count SGD Singapore Telecommunications Ltd.... Count SGD BEC World PCL... Count THB Kasikornbank PCL.... Count THB Major Cineplex Group PCL.... Count THB Minor International PCL... Count THB Airtac International Group.... Count TWD Cathay Financial Holding Co., Ltd.... Count TWD Chailease Holding Co., Ltd.... Count TWD Eclat Textile Co., Ltd.... Count TWD Hermes Microvision, Inc.... Count TWD Largan Precision Co., Ltd... Count TWD Lextar Electronics Corp.... Count TWD MediaTek, Inc.... Count TWD Sunspring Metal Corp.... Count TWD

66 DWS Invest Asia ex Japan Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Taiwan Cement Corp.... Count TWD Tong Hsing Electronic Industries Ltd... Count TWD E.Sun Financial Holding Co., Ltd... Count TWD ICICI Bank Ltd -ADR-... Count USD Infosys Technologies Ltd -ADR-... Count USD Larsen & Toubro Ltd -GDR Reg-... Count USD Melco PBL Entertainment Macau Ltd -ADR-... Count USD Reliance Industries Ltd -GDR- 144A... Count USD Samsung Electronics Co., Ltd -GDR Reg-... Count USD Taiwan Semiconductor Manufacturing Co., Ltd -ADR-... Count USD Tata Motors Ltd -ADR-... Count USD Investment fund units In-group fund units db x-trackers - FTSE VIETNAM ETF (0.650%)... Units EUR Total securities portfolio Derivatives (Minus signs denote short positions) Derivatives on individual securities Warrants on securities Equity warrants Bharti Airtel Ltd 24/01/ Count USD Deutsche Bank AG 20/04/ Count USD Dish TV India Ltd 19/04/ Count USD HCL Technologies Ltd 17/01/ Count USD Housing Development Finance Corp. 05/05/ Count USD ITC Ltd 04/08/ Count USD KT&G Corp. 02/02/ Count USD KT&G Corp. 03/05/ Count USD Lupin Ltd 20/02/ Count USD State Bank of India 18/08/ Count USD Tata Consultancy Services Ltd 17/06/ Count USD Equity index derivatives Receivables/payables Equity index futures MSCI Taiwan Index 07/ USD (SIM)... Count Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in non-eu/eea currencies Hong Kong dollar... HKD Indonesian rupiah... IDR Malaysian ringgit... MYR New Taiwan dollar... TWD Philippine peso... PHP Singapore dollar... SGD South Korean won... KRW Thai baht... THB U.S. dollar... USD Other assets Dividends receivable Receivables from exceeding the expense cap Receivables from share certificate transactions Total assets Other liabilities Liabilities from cost items Total liabilities Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 64

67 DWS Invest Asia ex Japan 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 FC... EUR Class LC... EUR Class LD... EUR Class NC.... EUR Number of shares outstanding Class FC... Count Class LC... Count Class LD... Count 252 Class NC.... Count Composition of the reference portfolio (according to CSSF circular 11/512) MSCI AC ASIA ex JAPAN Constituents 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 June 30, 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 0.1, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Market abbreviations Futures exchanges SIM = Singapore Exchange Derivatives Exchange rates (indirect quotes) As of June 30, Hong Kong dollar... HKD = EUR 1 Indonesian rupiah... IDR = EUR 1 South Korean won.... KRW = EUR 1 Malaysian ringgit.... MYR = EUR 1 Philippine peso... PHP = EUR 1 Singapore dollar... SGD = EUR 1 Thai baht.... THB = EUR 1 New Taiwan dollar.... TWD = EUR 1 U.S. dollar.... USD = EUR 1 Notes on 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. Assets reported in this report are not valued at derived market values. 65

68 DWS Invest Asia ex Japan 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 Securities traded on an exchange Count/ units/ currency Purchases/ additions Sales/ disposals Equities AAC Technologies Holdings, Inc.... Count Asian Pay Television Trust... Count Bank of China Ltd -H-... Count Brilliance China Automotive Holdings Ltd... Count China Communications Services Corp., Ltd -H-. Count China Life Insurance Co., Ltd... Count China Machinery Engineering... Count China Pacific Insurance Group Co., Ltd... Count China Railway Construction Corp. -H-... Count China Railway Group Ltd... Count China Resources Land Ltd... Count China Shenhua Energy Co., Ltd -H-... Count Chipbond Technology Corp.... Count Dr Reddy s Laboratories Ltd - ADR-... Count Huadian Power International Co.... Count Indofood Sukses Makmur Tbk PT... Count Interpark INT Corp.... Count Intime Retail Group Co., Ltd... Count Jumei International -ADR-... Count Mindray Medical International Ltd -ADR-... Count Poly Culture Group Corp., Ltd... Count Semen Gresik Persero Tbk PT... Count Siam Commercial Bank PCL... Count Skyworth Digital Holdings Ltd... Count St Shine Optical Co., Ltd... Count Sun Hung Kai Properties Ltd... Count Tencent Holdings Ltd... Count Tencent Holdings Ltd... Count Derivatives (option premiums realized in opening transactions, or total options transactions; in the case of warrants, purchases and sales are shown) Warrants Warrants on securities Additions Disposals Equity warrants HCL Infosystems Ltd 30/01/ Count Sun Hung Kai Properties Ltd 22/04/ Count Sun Pharmaceuticals Industries Ltd 30/01/2017. Count Futures contracts Value ( 000) Equity index futures Contracts sold (Underlying: MSCI Taiwan) EUR

69 DWS Invest Asian Bonds Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period USD assets Securities traded on an exchange Interest-bearing securities 3.25 % Bangkok Bank PCL/Hong Kong -Reg- 2010/ USD % % Export-Import Bank of India (MTN) 2012/ USD % % Goodman HK Finance 2014/ USD % % Indian Oil Corp. Ltd 2015/ USD % % LS Finance 2017 Ltd 2012/ USD % % PCCW-HKT Capital No. 5 Ltd -Reg- 2013/ USD % % Shimao Property Holdings Ltd 2011/ USD % Securities admitted to or included in organized markets Interest-bearing securities 5.00 % ICICI Bank Ltd/Hong Kong -Reg- 2010/ USD % Total securities portfolio Derivatives (Minus signs denote short positions) Currency derivatives Receivables/payables Currency futures (short) Open positions USD/EUR 4 million Closed positions USD/EUR 0.1 million Cash at bank Deposits in non-eu/eea currencies U.S. dollar.... USD Other assets Interest receivable Receivables from exceeding the expense cap Total assets Other liabilities Additional other liabilities Total liabilities Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FCH... EUR Class USD FC... USD Number of shares outstanding Class FCH... Count Class USD FC... Count Composition of the reference portfolio (according to CSSF circular 11/512) JPMorgan ASIAN CREDIT INDEX in USD TR - JACI 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... %

70 DWS Invest Asian Bonds The values-at-risk were calculated for the period from June 16, 2014, through June 30, 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 0.0, whereby the total of the nominal amounts of the derivatives 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 USD 0.00 as of the reporting date. Does not include any forward currency transactions entered into for currency hedging purposes at the level of the share classes. Market abbreviations Contracting party for currency futures State Street Bank and Trust Company Exchange rates (indirect quotes) As of June 30, 2014 Euro... EUR = USD 1 Notes on 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. Assets reported in this report are not valued at derived market values. 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/ units/ currency Purchases/ additions Sales/ disposals Securities traded on an exchange Interest-bearing securities 5.55 % Far East Horizon Ltd 2014/2049 *.. USD

71 DWS Invest Asian Small/Mid Cap Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities AIA Group Ltd.... Count HKD China Mobile Ltd.... Count HKD China Petroleum & Chemical Corp. -H-.... Count HKD Cosco Pacific Ltd.... Count HKD CPMC Holdings Ltd.... Count HKD Emperor Entertainment Hotel Ltd.... Count HKD Future Bright Holdings Ltd.... Count HKD Goodbaby International Holdings... Count HKD Haier Electronics Group Co., Ltd.... Count HKD Hilong Holding Ltd... Count HKD Huaneng Renewables Corp. Ltd.... Count HKD IRC Ltd... Count HKD Perfect Shape PRC Holdings Ltd... Count HKD PetroChina Co., Ltd.... Count HKD Playmates Toys, Inc.... Count HKD Techtronic Industries Co. -H-.... Count HKD West China Cement Ltd.... Count HKD Xingda International Holdings Ltd.... Count HKD Elnusa Tbk PT.... Count IDR Mitrabahtera Segara Sejati Tbk PT.... Count IDR Multipolar Tbk PT... Count IDR Pakuwon Jati Tbk PT.... Count IDR Petrosea Tbk PT... Count IDR Emami Ltd.... Count INR Glenmark Pharmaceuticals Ltd.... Count INR McLeod Russel India Ltd... Count INR Petronet LNG Ltd.... Count INR Tata Sponge Iron Ltd... Count INR AJ Rent A Car Co., Ltd.... Count KRW CJ O Shopping Co., Ltd.... Count KRW DHP Korea Co., Ltd **.... Count KRW Halla Visteon Climate Control Corp. **.... Count KRW Hynix Semiconductor, Inc.... Count KRW i-sens, Inc..... Count KRW Samsung Electronics Co., Ltd.... Count KRW Samsung Electronics Co., Ltd -Pref-.... Count KRW Sung Kwang Bend Co., Ltd... Count KRW Mudajaya Group... Count MYR Prestariang Systems Sdn Bhd... Count MYR Tune Ins Holdings Bhd.... Count MYR ABS-CBN Holdings Corp.... Count PHP Concepcion Industrial Corp.... Count PHP Cosco Capital, Inc.... Count PHP D&L Industries, Inc.... Count PHP Pepsi-Cola Products Philippines, Inc.... Count PHP Breadtalk Group Ltd... Count SGD CWT Ltd... Count SGD OSIM International Ltd.... Count SGD QAF Ltd... Count SGD Riverstone Holdings Ltd.... Count SGD Sarin Technologies Ltd.... Count SGD Silverlake Axis Ltd... Count SGD Vard Holdings Ltd.... Count SGD Thai Reinsurance PCL.... Count THB Thai Reinsurance Public Co., Ltd... Count THB Thai Stanley Electric PCL... Count THB MediaTek, Inc.... Count TWD Sunspring Metal Corp.... Count TWD Genting Hong Kong Ltd.... Count USD MakeMyTrip Ltd... Count USD Mandarin Oriental International Ltd.... Count USD Phoenix New Media Ltd -ADR-.... Count USD SouFun Holdings Ltd -ADR-... Count USD Total securities portfolio Cash at bank

72 DWS Invest Asian Small/Mid Cap Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Demand deposits at Custodian EUR deposits.... EUR Deposits in non-eu/eea currencies.. Hong Kong dollar... HKD Indian rupee.... INR Indonesian rupiah... IDR Malaysian ringgit.... MYR New Taiwan dollar.... TWD Philippine peso... PHP Singapore dollar... SGD South Korean won.... KRW Thai baht.... THB U.S. dollar.... USD Other assets Dividends receivable Receivables from exceeding the expense cap Receivables from share certificate transactions Total assets Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class LD... EUR Class LS.... EUR Class NC.... EUR Class USD FC.... USD Class USD LC.... USD Number of shares outstanding Class FC... Count Class LC... Count Class LD... Count Class LS.... Count Class NC.... Count Class USD FC.... Count Class USD LC.... Count Composition of the reference portfolio (according to CSSF circular 11/512) FTSE Asia Pacific Small Cap ex Japan Index in EUR Constituents (January 1, February 27, 2014), FTSE ASIA PACIFIC SMALL CAP EX JAPAN in EUR (February 28, June 30, 2014) 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 June 30, 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 0.0, whereby the total of the nominal amounts of the derivatives 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. 70

73 DWS Invest Asian Small/Mid Cap Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual DHP Korea Co., Ltd Count Halla Visteon Climate Control Corp. Count Total receivables from securities loans Contracting party for securities loans Morgan Stanley Intl. London EQ Total collateral pledged by third parties for securities loans EUR including: Equities EUR Exchange rates (indirect quotes) As of June 30, 2014 Hong Kong dollar... HKD = EUR 1 Indonesian rupiah... IDR = EUR 1 Indian rupee... INR = EUR 1 South Korean won... KRW = EUR 1 Malaysian ringgit... MYR = EUR 1 Philippine peso... PHP = EUR 1 Singapore dollar... SGD = EUR 1 Thai baht... THB = EUR 1 New Taiwan dollar... TWD = EUR 1 U.S. dollar... USD = EUR 1 Notes on 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. Assets reported in this report are not valued at derived market values. Footnotes **) Some or all of these securities are lent. 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/ units/ currency Purchases/ additions Sales/ disposals Securities traded on an exchange Equities Baiksan Co., Ltd... Count CNOOC Ltd... Count Del Monte Pacific Ltd... Count Dynasty Ceramic PCL... Count Global-Estate Resorts, Inc.... Count Goodpack Ltd... Count King Slide Works Co., Ltd... Count KT Skylife Co., Ltd... Count Labixiaoxin Snacks Group Ltd... Count Mega Lifesciences PCL... Count Minth Group Ltd... Count Natco Pharma Ltd... Count Shenguan Holdings Group Ltd... Count Soulbrain Co., Ltd... Count Taiwan Semiconductor Manufacturing Co., Ltd. Count Tencent Holdings Ltd... Count Vitasoy International Holdings Ltd... Count Wumart Stores, Inc.... Count

74 DWS Invest Brazilian Equities Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Ambev SA.... Count BRL B2W Cia Digital.... Count BRL B2W Cia Digital -Rights Exp 06Jun Count BRL Banco Bradesco SA... Count BRL Banco Bradesco SA -Pref-.... Count BRL Banco do Brasil SA.... Count BRL BB Seguridade Participacoes... Count BRL BM&FBOVESPA SA... Count BRL Brazil Pharma SA.... Count BRL BRF - Brasil Foods SA.... Count BRL Centrais Eletricas Brasileiras SA.... Count BRL Cia Brasileira de Distribuicao Grupo Pao de Acucar.... Count BRL Cia de Transmissao de Energia Eletrica Paulista -Pref-.... Count BRL Cia Energetica de Minas Gerais -Pref-... Count BRL Cia Energetica de Sao Paulo -Pref B-... Count BRL Cielo SA.... Count BRL CPFL Energia SA.... Count BRL EDP - Energias do Brasil SA.... Count BRL Gafisa SA.... Count BRL Hypermarcas SA.... Count BRL Investimentos Itau SA -Pref-.... Count BRL Itau Unibanco Holding SA -Pref-.... Count BRL JHSF Participacoes SA.... Count BRL Light SA.... Count BRL Lojas Americanas SA -Pref-.... Count BRL LPS Brasil Consultoria de Imoveis SA.... Count BRL Petroleo Brasileiro SA.... Count BRL Petroleo Brasileiro SA -Pref-.... Count BRL Profarma Distribuidora de Produtos Farmaceuticos SA.... Count BRL Raia Drogasil SA.... Count BRL Tim Participacoes SA.... Count BRL Vale SA... Count BRL Anheuser-Busch InBev NV -ADR-.... Count USD Petroleo Brasileiro SA -ADR-.... Count USD Total securities portfolio Cash at bank Demand deposits at Custodian EUR deposits.... EUR Deposits in other EU/EEA currencies British pound... GBP Deposits in non-eu/eea currencies Brazilian real... BRL Canadian dollar... CAD U.S. dollar.... USD Other assets Dividends receivable Receivables from exceeding the expense cap Other receivables Receivables from share certificate transactions Total assets Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 72

75 DWS Invest Brazilian Equities 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 FC... EUR Class LC... EUR Class NC.... EUR Number of shares outstanding Class FC... Count Class LC... Count Class NC.... Count Composition of the reference portfolio (according to CSSF circular 11/512) MSCI BRAZIL 10/40 Index in EUR Constituents 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 June 30, 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 0.0, whereby the total of the nominal amounts of the derivatives 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. Exchange rates (indirect quotes) As of June 30, 2014 Brazilian real... BRL = EUR 1 Canadian dollar... CAD = EUR 1 British pound... GBP = EUR 1 U.S. dollar.... USD = EUR 1 Notes on 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. Assets reported in this report are not valued at derived market values. 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/ units/ currency Purchases/ additions Sales/ disposals Securities traded on an exchange Equities Ambev SA -Rights Exp 27May Count Banco Santander Brasil SA.... Count BR Malls Participacoes SA... Count Brasil Pharma SA -Rights Exp 06Jun14... Count Cia Siderurgica Nacional SA... Count Eneva SA.... Count Gerdau SA -Pref-.... Count Itau Unibanco Holding SA -ADR-.... Count Itausa - Investimentos Itau SA... Count Itausa -Rights Exp 26Mar Count Natura Cosmeticos SA... Count Oi SA.... Count Oi SA -Pref-.... Count Petroleo Brasileiro SA -ADR-.... Count Profarma Distribuidora de Produtos Farmaceuticos SA -Rights Exp 11Jun Count Smiles SA.... Count Suzano Papel e Celulose SA -Pref-.... Count Telefonica Brasil SA.... Count Usinas Siderurgicas de Minas Gerais SA -Pref A-.Count

76 DWS Invest China Bonds Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period USD assets Securities traded on an exchange Interest-bearing securities % 21Vianet Group, Inc. 2014/ CNH % % ABN Amro Bank NV 2012/ CNH % % Asian Development Bank 2011/ CNH % % AVIC International Finance & Investment 2014/2017 CNH % % Banco Bradesco SA 2013/ CNH % % Banco BTG Pactual Cayman 2013/ CNH % % Banco Santander Chile 2012/ CNH % % Bank Tokyo Mitsubishi UFJ 2014/ CNH % % Beijing Cap Hoing Kong 2014/ CNH % % Bestgain Real Estate Lyra 2013/ CNH % % Bitronic Limited 2012/ CNH % % BP Capital Markets Plc 2014/ CNH % % Caterpillar Financial Services 2014/ CNH % % Central American Bank for Economic Integration 2013/ CNH % % China City Construct International 2014/ CNH % % China Datang Corp. 2013/ CNH % % China Electronics Corp. 2014/ CNH % % China Government Bond 2013/ CNH % % China Minmetals Corp. 2013/ CNH % % China Power International Development Ltd 2012/ CNH % % China Power International Development Ltd 2014/ CNH % % China Unicom Ltd 2014/ CNH % % CITIC Bank International Ltd 2012/ CNH % % Citic Bank International Ltd 2012/ CNH % % Corp Andina de Fomento 2015/ CNH % % Datang International Power Generation Co., Ltd 2012/ CNH % % Eastern Air Overseas HK 2014/ CNH % % Eastern Air OverseasCorporation Ltd 2013/ CNH % % Esun International Co.,Ltd 2014/ CNH % % Export-Import Bank of China 2012/ CNH % % Far East Horizon Ltd 2013/ CNH % % Far East Horizon Ltd 2013/ CNH % % Fonterra Co-operative Group Ltd 2014/ CNH % % Gazprombank 2014/ CNH % % Global Logistic Properties 2011/ CNH % % Global Logistic Properties Ltd 2012/ CNH % % Greenland Hong Kong Holdings Ltd 2017/ CNH % % Guosen Securities Overseas 2014/ CNH % % Hainan Airline 2014/ CNH % % HSBC Bank Co., Ltd 2013/2015 *... CNH % % Huaneng Power International Inc. 2013/ CNH % % Huaxia Bank Co., Ltd 2014/ CNH % % ICBC Luxembourg 2014/ CNH % % ICICI Bank Ltd 2012/ CNH % % ICICI Bank Ltd 2013/ CNH % % Industrial & Commercial Bank of China Asia Ltd (MTN) 2012/ CNH % % International Offshore Ltd 2012/ CNH % % Kaisa Group Holdings Ltd 2013/ CNH % % Lafarge Shui On Cement Ltd 2012/ CNH % % Lai Fung Holdings Ltd 2013/ CNH % % Lanxess Finance BV 2012/ CNH % % Longfor Properties Co., Inc. 2014/ CNH % % Maikun Investment Co. Ltd 2014/ CNH % % Mitsubishi UFJ Lease & Finance 2014/ CNH % % New World China Land Ltd 2013/ CNH % % Panda Funding Investment / CNH % % Pointer Investment H.K. 2012/ CNH % % Power Construction Corp. 2014/ CNH % % Proven Honour Cap 2012/ CNH % % RKI Finance 2013 Ltd 2013/ CNH % % Russian Agricultural Bank JSC 2013/ CNH % % Shandong International Ltd 2012/ CNH % % Sinitrans Sailing Ltd 2014/ CNH % % SK Global Chemical Co., Ltd 2013/ CNH % % Starway Assets Enterprises, Inc. 2014/ CNH % % Unican Ltd 2014/ CNH % % Unilever NV 2014/ CNH % % Uni-President China Holdings Ltd 2013/ CNH % % Universal Number One Co., Ltd 2014/ CNH % % Value Success International 2013/ CNH % % Value Success International Ltd 2013/ CNH % % Veolia Environment 2012/ CNH % % Volkswagen International Finance NV 2014/ CNH % % VTB Bank 2012/ CNH % % Wing Lung Bank Ltd 2013/ CNH %

77 DWS Invest China Bonds Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period USD assets % Big Will Investments Ltd (MTN) 2011/ USD % % Chalco Hong Kong Investment Company -Reg- 2014/2049 *... USD % % Chalieco Hong Kong Corp., Ltd 2014/2049 *... USD % % China Aoyuan Property Group Ltd 2014/ USD % % China Hongqiao Group Ltd -Reg- 2014/ USD % % China Liansu Group Holdings Ltd -Reg- 2011/2016. USD % % China Merchants Bank Co. Ltd/Hong Kong 2014/ USD % % China SCE Property Holdings Ltd 2012/ USD % % China Shanshui Cement Group Ltd -Reg- 2011/ USD % % China Shanshui Cement Group Ltd -Reg- 2012/ USD % % China South City Holdings Ltd 2014/ USD % % Chinatrust Commercial Bank Hong Kong -Reg- 2005/2049 *... USD % % CIFI Holdings Group Co., Ltd 2014/ USD % % Citic Bank International Ltd 2012/2022 *... USD % % CITIC Pacific Ltd (MTN) 2013/ USD % % CITIC Pacific Ltd 2011/2049 *... USD % % CITIC Pacific Ltd -Reg- 2012/2023 *... USD % % Competition Team Tech 2012/ USD % % COSCO Pacific Finance 2013 Co., Ltd 2013/2023. USD % % Dah Sing Bank Ltd (MTN) 2014/2024 *... USD % % Far East Horizon Ltd (MTN) 2014/ USD % % Far East Horizon Ltd 2014/2049 *... USD % % Favor Sea Ltd -Reg- 2014/ USD % % Franshion Investment Ltd 2012/ USD % % Fufeng Group Ltd -Reg- 2011/ USD % % Greenland Global Investment Ltd 2014/ USD % % Henson Finance Ltd 2013/ USD % % Hero Asia Investment Ltd 2012/2049 *... USD % % Hero Asia Investment Ltd 2013/ USD % % HLP Finance Ltd -Reg- 2014/ USD % % Hyundai Capital Services, Inc. (MTN) 2012/ USD % % Hyva Global BV -Reg- 2011/ USD % % Kaisa Group Holdings Ltd -Reg- 2013/ USD % % KWG Property Holding Ltd -Reg- 2014/ USD % % Li & Fung Ltd -Reg- 2007/ USD % % MCC Holding Hong Kong Corp. Ltd 2014/ USD % % MIE Holdings Corp. (MTN) 2013/ USD % % NWD Ltd (MTN) 2014/ USD % % Poly Real Estate Finance -Reg- 2014/ USD % % Rosy Unicorn Ltd 2012/ USD % % Shui On Development Holding Ltd 2014/ USD % % Shui On Development Holding Ltd 2014/ USD % % Sino-Ocean Land Perpetual Finance Ltd -Reg- 2011/2049 *... USD % % Sound Global Ltd 2012/ USD % % Times Property Holdings Ltd 2014/ USD % % Wheelock Finance Ltd 2014/ USD % % Wing Hang Bank Ltd (MTN) 2007/2049 *... USD % % Yancoal International Trading Co., Ltd 2014/2049 *. USD % % Yingde Gases Investment Ltd -Reg- 2013/ USD % % Yuzhou Properties Co., Ltd 2013/ USD % Securities admitted to or included in organized markets Interest-bearing securities 3.00 % Rainbow Days Ltd 2011/ CNH % % DBS Bank Ltd -Reg- 2012/2022 *... USD % % Sinochem Group -Reg- 2013/2049 *... USD % Unlisted securities Interest-bearing securities 2.70 % China Construction Bank 2014/ CNH % % Eastern Dragon International 2014/ CNH % % UA Finance BVI Ltd (MTN) 2013/ CNH % Investment fund units In-group fund units DWS Invest II - China High Income Bonds (0.600%)... Units USD Total securities portfolio

78 DWS Invest China Bonds Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period USD assets Derivatives (Minus signs denote short positions) Interest rate derivatives Receivables/payables Interest rate futures US Treasury Notes 10 year Futures 09/ USD (CBT)... Count Currency derivatives Receivables/payables Currency futures (short) Open positions USD/CNH 6.2 million Closed positions USD/CHF 2.2 million USD/EUR 19.3 million Currency futures (long) Open positions CHF/USD 139 million CNH/USD million EUR/USD million Cash at bank Deposits in non-eu/eea currencies Chinese offshore renminbi... CNH U.S. dollar... USD Time deposit CNH deposits (Harvest Global Investments Limited 1.00% p.a. 02/07/2014)... CNH Other assets Interest receivable Other receivables Receivables from share certificate transactions Total assets *** Short-term liabilities EUR loans... EUR Loans in non-eu/eea currencies Swiss franc... CHF Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 76

79 DWS Invest China Bonds 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 CHF FCH.... CHF Class CHF LCH.... CHF Class RMB FC.... CNH Class RMB LC.... CNH Class FCH.... EUR Class IDH.... EUR Class LCH.... EUR Class LDH.... EUR Class NC.... EUR Class NCH.... EUR Class NDH.... EUR Class PFCH.... EUR Class PFDQH.... EUR Class USD FC.... USD Class USD LC.... USD Number of shares outstanding Class CHF FCH.... Count Class CHF LCH.... Count Class RMB FC.... Count Class RMB LC.... Count Class FCH.... Count Class IDH.... Count Class LCH.... Count Class LDH.... Count Class NC.... Count Class NCH.... Count Class NDH.... Count Class PFCH.... Count Class PFDQH.... Count Class USD FC.... Count Class USD LC.... Count Composition of the reference portfolio (according to CSSF circular 11/512) DB Offshore Renminbi Bond Index USD 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 June 30, 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 derivatives 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 USD as of the reporting date. Does not include any forward currency transactions entered into for currency hedging purposes at the level of the share classes. Market abbreviations Futures exchanges CBT = Chicago Board of Trade Contracting parties for currency futures Credit Suisse London Branch (GFX), Credit Suisse AG Singapore Branch and State Street Bank and Trust Company Exchange rates (indirect quotes) As of June 30, 2014 Swiss franc.... CHF = USD 1 Chinese offshore renminbi.... CNH = USD 1 Euro... EUR = USD 1 77

80 DWS Invest China Bonds Notes on 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. Assets reported in this report are not 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 investment fund held units of other investment funds (target funds) in the reporting period, 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 *) Floating interest rate. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 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/ Count/ Purchases/ Sales/ Purchases/ Description units/ Description units/ additions disposals additions currency currency Sales/ disposals Securities traded on an exchange Interest-bearing securities 2.70 % Agricultural Bank of China 2013/2014.CNH % Agricultural Bank of China Ltd 2013/ CNH % Agricultural Development Bank of China 2012/ CNH % Agricultural Development Bank of China 2013/ CNH % Agricultural Development Bank of China 2013/ CNH % Alstom SA 2012/ CNH % Asia Standard International Group Ltd 2013/ CNH % Asian Development Bank 2013/2020. CNH % AVIC International Investments Ltd 2012/ CNH % Axiata SPV2 Bhd 2012/ CNH % Bank of China 2014/ CNH % Bank of China Ltd/London 2014/2017 CNH % Bank of Communications Hong Kong 2013/ CNH % Bank of East Asia 2014/ CNH % Baosteel Group Corp. Ltd 2011/2014. CNH % Baosteel Group Corp. Ltd 2012/2017. CNH % Baosteel Group Corp., Ltd 2013/2015 CNH % Bestgain Real Estate Lyra 2013/2016. CNH % BOC Aviation Pte. Ltd 2013/ CNH % BOC Aviation Pte. Ltd 2014/ CNH % BP Capital Markets Plc 2013/ CNH % Caterpillar Financial SE 2013/2015 *. CNH % Caterpillar Financial SE 2014/ CNH % Central Plaza Development Ltd 2014/ CNH % China Citic Bank 2014/ CNH % China CITIC Bank International Ltd 2013/ CNH % China Construct Bank Asia 2014/ CNH % China Construction Bank 2013/2014. CNH % China Construction Bank 2013/2014. CNH % China Construction Bank Corp. Ltd 2013/ CNH % China Datang Overseas Hong Kong Co., Ltd 2012/ CNH % China Development Bank 2012/2027. CNH % China Development Bank 2013/2016. CNH % China Guangdong Nuclear Power Group 2012/ CNH % China Merchants Bank 2014/ CNH % China Minmetals Corp. 2014/ CNH % China Power New Energy Development Co., Ltd 2012/ CNH % DBS Bank Ltd 2013/ CNH % Dorsett Hospitality International Ltd (MTN) 2013/ CNH % Eastern Air Overseas HK 2011/2014. CNH % Fantasia Holdings Group Co., Ltd 2013/ CNH % Far East Horizon Ltd 2012/ CNH % Fufeng Group Ltd 2013/ CNH % Future Land Development Holdings Ltd 2013/ CNH % Gemdale Asia Holding Ltd 2013/2018 CNH % Hitachi Capital Corp. 2012/ CNH % ICBC Luxembourg 2013/ CNH % IDBI Bank Ltd 2013/ CNH % IDBI Bank Ltd 2013/ CNH % Industrial and Commercial Bank of China SA 2013/ CNH % Industrial and Commercial Bank of China SA 2013/ CNH % International Finance Corp. 2014/ CNH % Kaisa Group Holdings Ltd 2012/2015. CNH % Kunzhi Ltd 2014/ CNH % Lotte Shopping Co. 2012/ CNH % Modern Land China Co. 2014/2017. CNH % National Australia Bank Ltd 2013/ CNH % New World China Land Ltd 2012/ CNH % Noble Group Ltd 2013/ CNH % Renault SA 2013/ CNH % Shanghai Pudong Development Bank 2014/ CNH % Shui on development 2014/ CNH % Silvery Castle Ltd 2012/ CNH % Sinotruk Hong Kong Ltd 2012/2014. CNH % Soar Rise Ltd 2014/ CNH % Standard Chartered Plc 2013/ CNH % Sumitomo Mitsui Financial Group, Inc. 2012/ CNH % Total Capital SA 2013/ CNH % Trade and Development Bank of Mongolia 2014/ CNH % Value Success International Ltd 2011/ CNH % Wing Lung Bank Ltd 2013/ CNH % Yanlord Land Co., Ltd 2013/2016 *. CNH % Baidu, Inc. 2014/ USD % Bank of China Ltd/Hong Kong (MTN) -Reg- 2014/ USD % Bank of Communications Co., Ltd/Hong Kong 2014/ USD % Bao-trans Enterprises Ltd -Reg- 2013/ USD % BOC Aviation Pte Ltd (MTN) 2014/ USD

81 DWS Invest China Bonds Description Count/ units/ currency Purchases/ additions Sales/ disposals Description Count/ units/ currency Purchases/ additions Sales/ disposals 8.75 % Caifu Holdings Ltd -Reg- 2013/2020. USD % Century Master Investment Co., Ltd 2013/ USD % Chalco Hong Kong Investment Co. 2013/2049 *... USD % Cheung Kong Infrastructure Holdings Ltd 2012/ USD % China Cinda Finance 2014 Ltd -Reg- 2014/ USD % China CITIC Bank International Ltd 2013/2024 *... USD % China CITIC Bank International Ltd (MTN) 2010/ USD % China Hongqiao Group Ltd 2012/ USD % China Mengniu Dairy Company Ltd 2013/ USD % China Overseas Finance Cayman VI Ltd 2014/ USD % China Overseas Finance Cayman VI Ltd 2014/ USD % China Overseas Grand Oceans Finance Cayman II Ltd 2014/ USD % China Railway Resources Huitung Ltd 2013/ USD % China Resources Power Holdings Co., Ltd 2011/2049 *... USD % China Taiping New Horizon Ltd 2013/ USD % China Uranium Development Co., Ltd 2013/ USD % CITIC Pacific Ltd 2013/ USD % CLP Power Hong Kong Financing Ltd -Reg- 2014/2049 *... USD % CNOOC Curtis Funding No 1 Pty Ltd -Reg- 2013/ USD % Country Garden Holdings Co Ltd -Reg- 2013/ USD % Country Garden Holdings Co. 2011/ USD % Country Garden Holdings Co., Ltd -Reg- 2013/ USD % CSSC Capital 2013 Ltd 2013/ USD % Fantasia Holdings Group Co., Ltd 2014/ USD % Franshion Brilliant Ltd 2014/ USD % Franshion Development Ltd -Reg- 2011/ USD % Goodman HK Finance 2014/ USD % Greenland Hong Kong Holdings Ltd 2013/ USD % Hutchison Whampoa International Ltd -Reg- 2010/2049 *... USD % Hutchison Whampoa International Ltd -Reg- 2012/2049 *... USD % ICICI Bank Ltd -Reg- 2009/ USD % Jingneng Investment Group Co., Ltd 2014/ USD % Kaisa Group Holdings Ltd 2012/2017. USD % Kaisa Group Holdings Ltd 2014/2018. USD % Li & Fung Ltd -Reg- 2012/2049 *... USD % Logan Property Holdings Co. Ltd -Reg- 2014/ USD % Longfor Properties Co., Ltd 2012/2019 USD % Lonking Holdings Ltd -Reg- 2011/2016 USD % Lotte Shopping Co., Ltd -Reg- 2012/ USD % Mitsubishi UFJ Lease & Finance Co., Ltd (MTN) 2014/2019 *... USD % Mitsubishi UFJ Lease & Finance Co., Ltd 2013/ USD % National Australia Bank Ltd 2009/2049 *... USD % Noble Group Ltd -Reg- 2009/ USD % Poly Real Estate Group Co., Ltd 2013/ USD % Shimao Property Holdings Ltd 2013/ USD % Shui On Development Holding Ltd -Reg- 2012/2049 *... USD % Sumitomo Mitsui Financial Group, Inc. -Reg- 2014/ USD % Sun Hung Kai Properties Capital Market Ltd (MTN) 2014/2024 *... USD % Sunac China Holdings Ltd 2012/2017. USD % Sunac China Holdings Ltd 2013/2018. USD % Tencent Holdings Ltd -Reg- 2011/2016 USD % Texhong Textile Group Ltd 2013/2019 USD % Towngas Finance Ltd -Reg- 2014/2049 *... USD % Trillion Chance Ltd 2014/ USD % United Overseas Bank Ltd 2014/2024 *... USD % UOB Cayman Ltd 2013/2049 *... USD % Wanda Properties International Co., Ltd 2014/ USD % Wanda Properties Overseas Ltd 2013/ USD % Yuexiu Co., Ltd 2013/ USD % Yuexiu Property Co., Ltd 2013/2023. USD % Yuzhou Properties Co., Ltd 2014/ USD Securities admitted to or included in organized markets Interest-bearing securities % Korea Gas Corp. 2014/ USD % MIE Holdings Corp. -Reg- 2011/2016. USD % Oversea Chinese Banking 2014/2024 *... USD % Tencent Holdings Ltd 2014/ USD % Zoomlion HK SPV Co., Ltd -Reg- 2012/ USD Unlisted securities Interest-bearing securities % Bestgain Real Estate Ltd -Reg- 2013/ USD % Tencent Holdings Ltd 2013/ USD 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 (Underlyings: US Treasury Note 10-Year, US Treasury Note 5-Year) USD Currency futures (short) Futures contracts to sell currencies USD/CHF USD USD/CNH USD USD/EUR USD Currency futures (long) Futures contracts to purchase currencies CHF/USD USD CNH/USD USD EUR/USD USD

82 DWS Invest Chinese Equities Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Anhui Conch Cement Co., Ltd -H-... Count HKD Bank of China Ltd -H-... Count HKD BBMG Corp.... Count HKD Beijing Enterprises Water Group Ltd... Count HKD Brilliance China Automotive Holdings Ltd... Count HKD China CNR Corp., Ltd... Count HKD China Everbright International Ltd... Count HKD China Huiyuan Juice Group Ltd... Count HKD China International Marine Containers Group Co., Ltd... Count HKD China Life Insurance Co., Ltd -H-... Count HKD China Machinery Engineering... Count HKD China Medical System Holdings Ltd... Count HKD China Mengniu Dairy Co., Ltd... Count HKD China Merchants Land Ltd... Count HKD China Minsheng Banking Corp., Ltd... Count HKD China Mobile Ltd... Count HKD China Modern Dairy Holdings Ltd... Count HKD China Overseas Land & Investment Ltd... Count HKD China Pacific Insurance Group Co., Ltd... Count HKD China Petroleum & Chemical Corp. -H-... Count HKD China Pharmaceutical Group Ltd... Count HKD China Shipping Development Co., Ltd -H-... Count HKD China State Construction International Holdings Ltd... Count HKD Chongqing Rural Commercial Bank... Count HKD CITIC Securities Co., Ltd... Count HKD Consun Pharmaceutical Group Ltd... Count HKD FIH Mobile Ltd... Count HKD Goldpac Group Ltd... Count HKD Great Wall Motor Co., Ltd -H-... Count HKD Guangzhou Automobile Group Co., Ltd... Count HKD Haichang Holdings Ltd... Count HKD Haitong Securities Co., Ltd... Count HKD Huadian Fuxin Energy Corp. Ltd... Count HKD Industrial & Commercial Bank of China -H-... Count HKD Kerry Logistics Network Ltd... Count HKD KWG Property Holding Ltd... Count HKD Moulin Global Eyecare... Count HKD Ping An Insurance Group Co. of China Ltd... Count HKD Poly Culture Group Corp., Ltd... Count HKD PW Medtech Group Ltd... Count HKD Shanghai Pharmaceuticals Holding Co., Ltd... Count HKD Sihuan Pharmaceutical Holdings Group Ltd... Count HKD SinoCom Software Group Ltd... Count HKD SJM Holdings Ltd... Count HKD Sunac China Holdings Ltd... Count HKD Techtronic Industries Co. -H-... Count HKD Tencent Holdings Ltd... Count HKD The United Laboratories International Holdings Ltd... Count HKD Tong Ren Tang Technologies Co., Ltd... Count HKD Weifu High-Technology Group Co. Ltd... Count HKD Winteam Pharmaceutical Group Ltd... Count HKD Xinjiang Goldwind Science & Technology Co., Ltd... Count HKD Yuexiu Real Estate Investment Trust... Count HKD Zhuzhou CSR Times Electric Co., Ltd -H-... Count HKD Vianet Group, Inc. -ADR-... Count USD Cheetah Mobile, Inc. -ADR-... Count USD China Lodging Group Ltd -ADR-... Count USD Ctrip.com International Ltd -ADR-... Count USD Qihoo 360 Technology Co., Ltd -ADR-... Count USD Vipshop Holdings Ltd -ADR-... Count USD WuXi PharmaTech Cayman, Inc. -ADR-... Count USD Investment fund units Non-group fund units MSCI China A 50 Index (0.600%)... Units HKD Total securities portfolio Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in non-eu/eea currencies Australian dollar... AUD Hong Kong dollar... HKD U.S. dollar... USD

83 DWS Invest Chinese Equities Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Other assets Dividends receivable Other receivables Receivables from share certificate transactions Total assets Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class NC.... EUR Class GBP RD.... GBP Class USD FC.... USD Class USD LC.... USD Number of shares outstanding Class FC... Count Class LC... Count Class NC.... Count Class GBP RD.... Count Class USD FC.... Count Class USD LC.... Count Composition of the reference portfolio (according to CSSF circular 11/512) MSCI China 10/40 Index in EUR Constituents 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 June 30, 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 0.0, whereby the total of the nominal amounts of the derivatives 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. Exchange rates (indirect quotes) As of June 30, Australian dollar.... AUD = EUR 1 British pound... GBP = EUR 1 Hong Kong dollar... HKD = EUR 1 U.S. dollar.... USD = EUR 1 Notes on 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. Assets stated in this report are valued to a small extent 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 investment fund held units of other investment funds (target funds), 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. 81

84 DWS Invest Chinese Equities 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/ units/ currency Purchases/ additions Sales/ disposals Securities traded on an exchange Equities 500.com Ltd -ADR-... Count AAC Technologies Holdings, Inc.... Count AviChina Industry & Technology Co., Ltd... Count Beijing Development HK Ltd... Count Biostime International Holding... Count Central China Securities Co. Ltd... Count Changsha Zoomlion Heavy Industry Science and Technology Development Co., Ltd... Count China Cinda Asset Management Co., Ltd... Count China Communications Construction Co., Ltd -H-... Count China Construction Bank Corp. -H-... Count China Longyuan Power Group Corp.... Count China Oilfield Services Ltd -H-... Count CNOOC Ltd... Count DX.com Holdings Ltd... Count ENN Energy Holdings Ltd... Count Goldpoly New Energy Holdings Ltd... Count Harbin Bank Co., Ltd... Count JinkoSolar Holding Co., Ltd -ADR-... Count Kingsoft Corp Ltd... Count Modern Land China Co., Ltd... Count Netease.com -ADR-... Count Renesola Ltd -ADR-... Count Shandong Weigao Group Medical Polymer Co., Ltd -H-... Count Shenzhou International Group Holdings Ltd... Count SouFun Holdings Ltd -ADR-... Count Sunny Optical Technology Group Co., Ltd... Count TCL Communication Technology Holdings Ltd.. Count Tencent Holdings Ltd... Count Tencent Holdings Ltd... Count Trigiant Group Ltd... Count United Photovoltaics Group Ltd... Count Xinyi Glass Holding Co., Ltd... Count

85 DWS Invest Clean Tech Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Meyer Burger Technology AG.... Count CHF Vestas Wind Systems A/S... Count DKK Aixtron SE.... Count EUR Albioma.... Count EUR BASF SE... Count EUR Bilfinger Berger AG.... Count EUR Daimler AG... Count EUR Enel Green Power SpA.... Count EUR Infineon Technologies AG.... Count EUR Koninklijke Philips Electronics NV.... Count EUR Nordex SE.... Count EUR OSRAM Licht AG... Count EUR Red Electrica Corp. SA... Count EUR Renault SA.... Count EUR SMA Solar Technology AG.... Count EUR Snam Rete Gas SpA.... Count EUR Zumtobel AG.... Count EUR Ricardo Plc.... Count GBP Byd Co., Ltd.... Count HKD China Everbright International Ltd.... Count HKD China Longyuan Power Group Corp.... Count HKD China Singyes Solar Technologies Holdings Ltd.... Count HKD China Suntien Green Energy Corp., Ltd... Count HKD GCL Poly Energy Holdings Ltd.... Count HKD Huaneng Renewables Corp. Ltd.... Count HKD United Photovoltaics Group Ltd... Count HKD Wasion Group Holdings Ltd... Count HKD Alps Electric Co., Ltd.... Count JPY East Japan Railway Co... Count JPY Toyota Motor Corp... Count JPY West Holdings Corp... Count JPY Seoul Semiconductor Co., Ltd... Count KRW REC Silicon ASA.... Count NOK Contact Energy Ltd.... Count NZD Energy Development Corp.... Count PHP Billerud AB.... Count SEK JM AB.... Count SEK Nibe Industrier AB -B-.... Count SEK Svenska Cellulosa AB.... Count SEK Epistar Corp..... Count TWD Everlight Electronics Co., Ltd... Count TWD Unity Opto Technology Co., Ltd.... Count TWD Acuity Brands, Inc.... Count USD AO Smith Corp... Count USD Aqua America, Inc.... Count USD Canadian Solar, Inc.... Count USD Cree, Inc... Count USD Danaher Corp... Count USD Eaton Corp., Plc.... Count USD EnerNOC, Inc... Count USD Enphase Energy, Inc.... Count USD EQT Corp..... Count USD Flowserve Corp.... Count USD Green Plains, Inc.... Count USD GT Advanced Technologies, Inc.... Count USD Hollysys Automation Technologies Ltd.... Count USD Honeywell International, Inc.... Count USD Itron, Inc... Count USD JinkoSolar Holding Co., Ltd -ADR-.... Count USD Johnson Controls, Inc.... Count USD MasTec, Inc..... Count USD NextEra Energy, Inc..... Count USD Noble Energy, Inc.... Count USD Polypore International, Inc..... Count USD Sensata Technologies Holding NV... Count USD Silver Spring Networks, Inc..... Count USD SolarCity Corp.... Count USD Sunedison, Inc..... Count USD Tesla Motors, Inc..... Count USD Trina Solar Ltd -ADR-.... Count USD UGI Corp.... Count USD Veeco Instruments, Inc.... Count USD Xylem, Inc.... Count USD Total securities portfolio

86 DWS Invest Clean Tech Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Derivatives (Minus signs denote short positions) Equity index derivatives Receivables/payables Equity index futures DJ EURO STOXX 50 Index Futures 09/ EUR (XEUR)... Count Nikkei 225 Futures 09/ JPY (OSE)... Count S & P MINI 500 Futures 09/ USD (CME)... Count Currency derivatives Receivables/payables Currency futures (short) Open positions EUR/JPY 3.1 million Closed positions EUR/JPY million Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in other EU/EEA currencies British pound... GBP Danish krone... DKK Norwegian krone... NOK Swedish krona... SEK Deposits in non-eu/eea currencies Australian dollar... AUD Brazilian real... BRL Hong Kong dollar... HKD Indonesian rupiah... IDR Japanese yen... JPY Canadian dollar... CAD Malaysian ringgit... MYR New Taiwan dollar... TWD Philippine peso... PHP Swiss franc... CHF Singapore dollar... SGD South Korean won... KRW U.S. dollar... USD Other assets Dividends receivable Receivables from exceeding the expense cap Receivables from share certificate transactions Total assets *** Other liabilities Liabilities from cost items Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 84

87 DWS Invest Clean Tech 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 FC... EUR Class LC... EUR Class NC.... EUR Class GBP RD.... GBP Class USD KC.... USD 5.82 Class USD LC.... USD Number of shares outstanding Class FC... Count Class LC... Count Class NC.... Count Class GBP RD.... Count 372 Class USD KC.... Count Class USD LC.... Count Composition of the reference portfolio (according to CSSF circular 11/512) Wilderhill Clean Energy 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 June 30, 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 0.1, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Market abbreviations Futures exchanges CME = Chicago Mercantile Exchange OSE = Osaka Securities Exchange XEUR = Eurex Contracting parties for currency futures Deutsche Bank AG Frankfurt and JP Morgan Chase Bank N.A. Exchange rates (indirect quotes) As of June 30, Australian dollar.... AUD = EUR 1 Brazilian real... BRL = EUR 1 Canadian dollar... CAD = EUR 1 Swiss franc.... CHF = EUR 1 Danish krone.... DKK = EUR 1 British pound... GBP = EUR 1 Hong Kong dollar... HKD = EUR 1 Indonesian rupiah... IDR = EUR 1 Japanese yen... JPY = EUR 1 South Korean won.... KRW = EUR 1 Malaysian ringgit.... MYR = EUR 1 Norwegian krone.... NOK = EUR 1 New Zealand dollar.... NZD = EUR 1 Philippine peso... PHP = EUR 1 Swedish krona.... SEK = EUR 1 Singapore dollar... SGD = EUR 1 New Taiwan dollar.... TWD = EUR 1 U.S. dollar.... USD = EUR 1 Notes on 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. Assets reported in this report are not valued at derived market values. Footnotes ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 85

88 DWS Invest Clean Tech 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 Securities traded on an exchange Count/ units/ currency Purchases/ additions Sales/ disposals Equities ABB Ltd -Reg-.... Count Ballard Power Systems, Inc... Count Barco NV.... Count 945 Cie de Saint-Gobain.... Count Dialight Plc.... Count Ebro Puleva SA.... Count Foster Wheeler AG.... Count FuelCell Energy, Inc..... Count General Motors Corp..... Count Goldpoly New Energy Holdings Ltd... Count Hitachi Ltd.... Count Hyundai Mobis... Count 605 Legrand SA.... Count LG Chem Ltd.... Count 565 Mitsubishi Heavy Industries Ltd.... Count MKS Instruments, Inc.... Count Murata Manufacturing Co., Ltd.... Count Nabtesco Corp..... Count Nitto Denko Corp..... Count Pattern Energy Group, Inc..... Count PowerSecure International, Inc.... Count Prysmian SpA... Count Qiagen NV.... Count Rubicon Technology, Inc.... Count Shin-Etsu Chemical Co., Ltd.... Count 700 Siemens AG -Reg-.... Count Sumitomo Chemical Co., Ltd... Count Universal Display Corp... Count Vestas Wind Systems.... Count Wesfarmers Ltd... Count 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) Equity index futures Contracts sold (Underlyings: DJ Euro Stoxx 50, S&P 500) EUR 892 Currency futures (short) Futures contracts to sell currencies EUR/JPY EUR

89 DWS Invest Commodity Plus Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Interest-bearing securities 0.00 % Municipality Finance Plc 2014/ USD % % United States Treasury Bill 2013/ USD % % United States Treasury Bill 2014/2014 **... USD % % United States Treasury Bill 2014/ USD % % United States Treasury Bill 2014/2015 **... USD % % United States Treasury Note/Bond 2012/2014 **. USD % % United States Treasury Note/Bond 2013/2014 **. USD % Unlisted securities Interest-bearing securities 0.00 % Commonwealth Bank of Australia 29/09/ USD % % DZ Bank AG Deutsche Zentral-Genossenschaftsbank 30/10/ USD % % FMS Wertmanagement 30/10/ USD % % Kommunekredit 22/07/ USD % % Landeskreditbank Baden-Wuerttemberg Foerderbank 18/08/ USD % Investment fund units Non-group fund units ETFS Physical Palladium Shares (0.600%)... Units USD ETFS Physical Platinum Shares (0.600%)... Units USD SPDR Gold Trust (0.400%)... Units USD Total securities portfolio Derivatives (Minus signs denote short positions) Swaps Receivables/payables Commodity swaps DJ Aluminum ER / 0.21% 15/04/2015 (OTC) (UBS)... Count DJ Brent / 0.21% 14/04/2015 (OTC) (UBS)... Count DJ Coffee / 0.22% 13/08/2014 (OTC) (UBS)... Count DJ Copper / 0.21% 12/02/2015 (OTC) (UBS)... Count DJ Corn / 0.22% 12/02/2015 (OTC) (UBS)... Count DJ Cotton / 0.21% 13/10/2014 (OTC) (UBS)... Count DJ ER / 0.12% 10/12/2014 (OTC) (CS)... Count DJ ER / 0.12% 10/12/2014 (OTC) (MS)... Count DJ Gas / 0.21% 15/10/2014 (OTC) (UBS)... Count DJ Gold / 0.21% 12/05/2015 (OTC) (UBS)... Count DJ Heat Oil / 0.21% 24/10/2014 (OTC) (UBS)... Count DJ KanWheat / 0.21% 15/04/2015 (OTC) (UBS)... Count DJ Lean Hogs / 0.24% 24/11/2014 (OTC) (UBS)... Count DJ Live / 0.22% 15/04/2015 (OTC) (UBS)... Count DJ Natural Gas / 0.23% 24/10/2014 (OTC) (UBS)... Count DJ Nickel / 0.23% 21/01/2015 (OTC) (UBS)... Count DJ Silver / 0.22% 21/01/2015 (OTC) (UBS)... Count DJ Soybean / 0.22% 21/01/2015 (OTC) (UBS)... Count DJ Soybmeal / 0.21% 14/04/2015 (OTC) (UBS)... Count DJ Soyboil / 0.23% 12/02/2015 (OTC) (UBS)... Count DJ Sugar / 0.21% 13/10/2014 (OTC) (UBS)... Count DJ Wheat / 0.22% 13/01/2015 (OTC) (UBS)... Count DJ WTI Crude Oil / 0.21% 15/01/2015 (OTC) (UBS)... Count DJ Zinc / 0.22% 15/10/2014 (OTC) (UBS)... Count Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in non-eu/eea currencies Australian dollar... AUD Canadian dollar... CAD U.S. dollar... USD Other assets Interest receivable Receivables from exceeding the expense cap Other receivables Total assets ***

90 DWS Invest Commodity Plus Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class NC.... EUR Class USD FC.... USD Class USD LC.... USD Number of shares outstanding Class FC... Count Class LC... Count Class NC.... Count Class USD FC.... Count 290 Class USD LC.... Count Composition of the reference portfolio (according to CSSF circular 11/512) Dow Jones-UBS Commodity Index Total Return 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 June 30, 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 0.9, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Market abbreviations Contracting parties for derivatives (with the exception of currency futures) CS = Credit Suisse International MS = Morgan Stanley & Co. International UBS = UBS AG London Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual 0.00 % United States Treasury Bill 2012/2014 USD % United States Treasury Bill 2014/2014 USD % United States Treasury Note/Bond 2012/2014 USD % United States Treasury Note/Bond 2013/2014 USD Total receivables from securities loans Contracting party for securities loans Landesbank Baden-Württemberg Total collateral pledged by third parties for securities loans EUR including: Other EUR

91 DWS Invest Commodity Plus Exchange rates (indirect quotes) As of June 30, 2014 Australian dollar.... AUD = EUR 1 Canadian dollar... CAD = EUR 1 U.S. dollar.... USD = EUR 1 Notes on 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. Assets stated in this report are not 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 investment fund held units of other investment funds (target funds) in the reporting period, 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 **) Some or all of these securities are lent. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 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/ units/ currency Purchases/ additions Sales/ disposals Derivatives (option premiums realized in opening transactions, or total options transactions; in the case of warrants, purchases and sales are shown) Securities traded on an exchange Value ( 000) Interest-bearing securities Swaps 0.00 % Deutsche Zentral-Genossenschaftbank 2014/ USD % United States Treasury Notes/Bond 2013/ USD Securities admitted to or included in organized markets Interest-bearing securities 0.00 % United States Treasury Bill 2013/ USD % United States Treasury Bill 2013/ USD % United States Treasury Bill 2013/ USD % United States Treasury Bill 2013/ USD % United States Treasury Bill 2013/ USD Commodity swaps (Underlyings: DJ Aluminum ER, DJ Br. Crud, DJ Coffee ER, DJ Com ER, DJ Copper, DJ Copper ER, DJ Corn, DJ Corn ER, DJ Cotton, DJ Cotton ER, DJ Crud Oil, DJ ER, DJ Gasln ER, DJ Gold, DJ Heat. Oil, DJ KanWheat ER, DJ Lean Hogs, DJ Live Catt., DJ Nat.Gas, DJ Nickel ER, DJ Silver, DJ Soybeans, DJ SoybeaOil, DJ Soymeal, DJ Sugar ER, DJ Wheat ER, DJ WTI Cr.Oil, DJ Zinc, S&P Brent ER, S&P Palladium, S&P Platinum) EUR Investment fund units Non-group fund units ipath Dow Jones-UBS Commodity Index Total Return ETN (0.250%).... Units

92 DWS Invest Convertibles Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Interest-bearing securities 5.75 % CFS Retail Property Trust (MTN) 2011/2016 **... AUD % % Swiss Life Holding AG 2013/2020 **... CHF % % Aabar Investments PJSC -Reg- 2011/ EUR % % Adidas AG 2012/2019 **... EUR % % Cap Gemini SA 2013/2019 **... EUR % % CEZ MH BV (MTN) 2014/ EUR % % Deutsche Post AG 2012/2019 **... EUR % % Fonciere des Regions 2013/ EUR % % Fresenius SE & Co. KGaA 2014/2019 **... EUR % % GBL Verwaltung SA 2013/ EUR % % Gecina SA 2010/2016 **... EUR % % Groupe Bruxelles Lambert SA 2012/2015 **... EUR % % International Consolidated Airlines Group SA 2013/ EUR % % Misarte 2010/2016 **... EUR % % Prysmian SpA 2013/2018 **... EUR % % RAG-Stiftung 2014/ EUR % % Sagerpar SA 2013/2018 **... EUR % % Solidium Oyj 2012/2015 **... EUR % % Solidium Oyj 2014/2018 **... EUR % % Steinhoff Finance Holding GmbH (MTN) 2010/2016. EUR % % Steinhoff Finance Holding GmbH 2012/ EUR % % Steinhoff Finance Holding GmbH 2014/ EUR % % Technip SA 2010/2016 **... EUR % % Unibail-Rodamco SE 2012/2018 **... EUR % % Unibail-Rodamco SE 2014/ EUR % % British Land Co. 2012/2017 **... GBP % % Derwent London Capital Jersey Ltd 2011/ GBP % % ASM Pacific Technology Ltd 2014/ HKD % % Biostime International Holdings Ltd 2014/ HKD % % Hengan International Group Co., Ltd 2013/ HKD % % Shenzhou International Group Holdings Ltd 2014/ HKD % % Shine Power International Ltd 2014/ HKD % % Tong Jie Ltd 2013/ HKD % % ABC-Mart, Inc. 2013/ JPY % % Asics Corp. 2014/ JPY % % Kawasaki Kisen Kaisha Ltd 2013/ JPY % % Lotte Shopping Co., Ltd 2011/ JPY % % Nagoya Railroad Co., Ltd 2013/ JPY % % Nidec Corp. 2010/ JPY % % Sekisui House Ltd 2011/ JPY % % Sumitomo Forestry Co., Ltd 2013/ JPY % % Takashimaya Co., Ltd 2013/ JPY % % Toppan Printing Co., Ltd 2013/ JPY % % Toray Industries, Inc. 2014/ JPY % % Toray Industries, Inc. 2014/ JPY % % Yamada Denki Co. Ltd 2014/ JPY % % Lotte Shopping Co., Ltd (MTN) 2013/ KRW % % CapitaLand Ltd 2013/ SGD % % CapitaLand Ltd -Reg- 2009/ SGD % % Temasek Financial III Pte Ltd -Reg- 2011/ SGD % % AYC Finance Ltd -Reg- 2014/ USD % % Billion Express Investments Ltd 2010/ USD % % China Overseas Finance Investment Cayman IV Ltd 2014/ USD % % Citrix Systems, Inc. 2014/ USD % % Cobalt International Energy, Inc. 2012/ USD % % DP World Ltd 2014/ USD % % ENN Energy Holdings Ltd 2013/ USD % % EPISTAR Corp. 2013/ USD % % Giant Great Ltd 2011/2016 **... USD % % Glencore Finance Europe SA 2013/ USD % % Glencore Finance Europe SA 2009/ USD % % Hong Kong Exchanges & Clearing Ltd 2012/2017 **... USD % % Lukoil International Finance BV 2010/ USD % % National Bank of Abu Dhabi 2013/ USD % % Pegatron Corp. 2012/ USD % % Qiagen NV 2014/ USD % % Qiagen NV 2014/ USD % % Shizuoka Bank Ltd 2013/ USD % % Siemens Financieringsmaatschappij NV 2012/2019. USD % % Siemens Financieringsmaatschappij NV -Reg- 2012/2017 **... USD % % SK Hynix, Inc. 2010/ USD % % STMicroelectronics NV 2014/ USD % % Subsea 7 SA 2012/ USD % % The Joyo Bank Ltd -Reg- 2014/2019 **... USD % % Vedanta Resources Jersey Ltd 2009/ USD %

93 DWS Invest Convertibles Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets 6.00 % WESCO International, Inc. 2009/ USD % % Yamaguchi Financial Group, Inc. 2013/ USD % Securities admitted to or included in organized markets Interest-bearing securities 0.00 % Akamai Technologies, Inc. 144A 2014/2019 **... USD % % American Realty Capital Properties, Inc. 2013/ USD % % Ares Capital Corp. 144A 2013/ USD % % Ares Capital Corp. 2012/ USD % % Concur Technologies, Inc. 2013/ USD % % Cubist Pharmaceuticals, Inc. 144A 2013/ USD % % Cubist Pharmaceuticals, Inc. 144A 2013/ USD % % Danaher Corp. 2001/ USD % % Electronic Arts, Inc. 2011/ USD % % Gilead Sciences, Inc. 2010/ USD % % Hologic, Inc. 2010/ USD % % Illumina, Inc. 144A 2014/ USD % % Illumina, Inc. 2011/ USD % % Intel Corp. 144A 2009/ USD % % Intel Corp. 2006/2035 **... USD % % Jarden Corp. 144A 2014/ USD % % JDS Uniphase Corp. 144A 2013/ USD % % LAM Research Corp. 2011/ USD % % Liberty Interactive LLC 144A 2013/ USD % % Liberty Interactive LLC 2014/ USD % % MGM Resorts International 2010/ USD % % Micron Technology, Inc. 2012/ USD % % Micron Technology, Inc. 2013/ USD % % Mylan, Inc. 2008/ USD % % Newmont Mining Corp. 2007/ USD % % Nuance Communications, Inc. 2011/ USD % % NVIDIA Corp. 144A 2013/ USD % % Owens Brockway 144A 2010/ USD % % Priceline.com, Inc. 2013/ USD % % Priceline.com, Inc. 2013/ USD % % ProLogis LP 2011/2015 **... USD % % Prospect Capital Corp. 144A 2014/ USD % % Qihoo 360 Technology Co., Ltd -Reg- 2013/ USD % % Salix Pharmaceuticals Ltd 2012/ USD % % SanDisk Corp. 144A 2013/ USD % % SanDisk Corp. 2010/ USD % % Toll Brothers Finance Corp. 2012/ USD % % WellPoint, Inc. 2013/ USD % % Xilinx, Inc. 2010/ USD % % Yahoo, Inc. 2013/ USD % Unlisted securities Interest-bearing securities % Eni SpA 2013/2016 **... EUR % % ENI SpA (MTN) 2012/2015 **... EUR % % MNV Zrt 2013/ EUR % % Industrivarden AB 2014/ SEK % % Salesforce.com, Inc. 2014/ USD % Total securities portfolio Derivatives (Minus signs denote short positions) Derivatives on individual securities Warrants on securities Equity warrants Goldman Sachs Co. 09/12/ Count EUR Merrill Lynch International & Co. CV 16/12/ Count EUR Interest rate derivatives Receivables/payables Option contracts Options on interest rate futures Call Euro Stoxx 50 Index 12/ EUR (OTC) (XEUR). Count

94 DWS Invest Convertibles Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Currency derivatives Receivables/payables Currency futures Euro Futures 09/ USD (CME)... Count Currency futures (short) Open positions EUR/AUD 8 million EUR/CHF 20 million EUR/GBP 23 million EUR/HKD 625 million EUR/JPY million EUR/SEK 70 million EUR/SGD 100 million EUR/USD million Closed positions EUR/CHF 0.1 million EUR/GBP 0.3 million EUR/SEK 0.1 million Currency futures (long) Open positions AUD/EUR 0.5 million CHF/EUR million GBP/EUR 10.6 million HKD/EUR 43 million JPY/EUR million SEK/EUR 4.8 million SGD/EUR 6.9 million USD/EUR million Closed positions HKD/EUR 0.7 million USD/EUR 3.8 million Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in other EU/EEA currencies British pound... GBP Swedish krona... SEK Deposits in non-eu/eea currencies Australian dollar... AUD Hong Kong dollar... HKD Japanese yen... JPY Swiss franc... CHF Singapore dollar... SGD South Korean won... KRW U.S. dollar... USD Other assets Interest receivable Other receivables Receivables from share certificate transactions Total assets *** Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 92

95 DWS Invest Convertibles 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 CHF FCH.... CHF Class CHF LCH.... CHF Class FC... EUR Class FC (CE).... EUR Class FD... EUR Class LC... EUR Class LD... EUR Class LD (CE).... EUR Class NC.... EUR Class PFC... EUR Class GBP RDH.... GBP Class USD FCH.... USD Class USD LCH.... USD Number of shares outstanding Class CHF FCH.... Count Class CHF LCH.... Count Class FC... Count Class FC (CE).... Count Class FD... Count Class LC... Count Class LD... Count Class LD (CE).... Count 639 Class NC.... Count Class PFC... Count Class GBP RDH.... Count Class USD FCH.... Count Class USD LCH Count Composition of the reference portfolio (according to CSSF circular 11/512) 25% Citi - EuroBIG Corporate Index- A sector, 25% Citi - WorldBIG Corporate A in EUR, 25% MSCI THE WORLD INDEX in EUR Constituents, 25% STOXX 50 Constituents 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 June 30, 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 1.1, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Does not include any forward currency transactions entered into for currency hedging purposes at the level of the share classes. Market abbreviations Futures exchanges CME = Chicago Mercantile Exchange Contracting party for derivatives (with the exception of currency futures) XEUR = Eurex Contracting parties for currency futures Citibank N.A., Credit Suisse London Branch (GFX), Deutsche Bank AG Frankfurt, Goldman Sachs International, Merrill Lynch International, Morgan Stanley and Co. International Plc, Société Générale and State Street Bank and Trust Company 93

96 DWS Invest Convertibles Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual 5.75 % CFS Retail Property Trust (MTN) 2011/2016 AUD % Swiss Life Holding AG 2013/2020 CHF % Adidas AG 2012/2019 EUR % Cap Gemini SA 2013/2019 EUR % Deutsche Post AG 2012/2019 EUR % Eni SpA 2013/2016 EUR % Eni SpA (MTN) 2012/2015 EUR % Fresenius SE & Co. KGaA 2014/2019 EUR % Gecina SA 2010/2016 EUR % Groupe Bruxelles Lambert SA 2012/2015 EUR % Misarte 2010/2016 EUR % Prysmian SpA 2013/2018 EUR % Sagerpar SA 2013/2018 EUR % Solidium Oyj 2012/2015 EUR % Solidium Oyj 2014/2018 EUR % Technip SA 2010/2016 EUR % Unibail-Rodamco SE 2012/2018 EUR % British Land Co. 2012/2017 GBP % Akamai Technologies, Inc. 144A 2014/2019 USD % Giant Great Ltd 2011/2016 USD % Hong Kong Exchanges & Clearing Ltd 2012/2017 USD % Intel Corp. 2006/2035 USD % ProLogis LP 2011/2015 USD % Siemens Financieringsmaatschappij NV -Reg- 2012/2017 USD % The Joyo Bank Ltd -Reg- 2014/2019 USD Total receivables from securities loans Contracting parties for securities loans BNP Paribas Arbitrage SNC, Barclays Capital Securities Limited, Citigroup Global Markets, Credit Suisse Securities (Europe) Ltd. FI, Deutsche Bank AG FI, Deutsche Bank London, Goldman Sachs Int., J.P. Morgan Sec Ltd., Merrill Lynch International, Nomura International Plc, UBS AG London Branch and UniCredit Bank AG. Total collateral pledged by third parties for securities loans EUR including: Equities EUR Other EUR Exchange rates (indirect quotes) As of June 30, 2014 Australian dollar... AUD = EUR 1 Swiss franc... CHF = EUR 1 British pound... GBP = EUR 1 Hong Kong dollar... HKD = EUR 1 Japanese yen... JPY = EUR 1 South Korean won... KRW = EUR 1 Swedish krona... SEK = EUR 1 Singapore dollar... SGD = EUR 1 U.S. dollar... USD = EUR 1 Notes on 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. Assets stated in this report are not valued at derived market values. Footnotes **) Some or all of these securities are lent. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 94

97 DWS Invest Convertibles 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 Securities traded on an exchange Count/ units/ currency Purchases/ additions Sales/ disposals Interest-bearing securities 3.75 % AXA SA 2000/ EUR % Compagnie Generale des Etablissements Michelin 2007/2017. EUR % Gabriel Finance Ltd 2013/ EUR % Industrivarden AB 2010/ EUR % Orpea 2010/ EUR % Suez Environnement Co. 2014/2020. EUR % GS Yuasa Corp. 2014/ JPY % Nippon Meat Packers, Inc. 2010/2014 JPY % ORIX Corp. 2008/ JPY % SK Telecom Co., Ltd 2009/ USD Securities admitted to or included in organized markets Interest-bearing securities % Boston Properties LP 144A 2008/2014 USD % Concur Technologies, Inc. 144A 2013/ USD % Covanta Holding Corp. 2010/ USD % Gilead Sciences, Inc. 2010/ USD % Illumina, Inc. 2011/ USD % International Game Technology 144A 2009/ USD % Liberty Interactive LLC 144A 2013/ USD % Micron Technology, Inc. 2007/2014. USD % Salesforce.com, Inc. 144A 2013/2018 USD % Teva Pharmaceutical Finance Co. LLC 2006/ USD % United States Steel Corp. 2009/2014. USD Unlisted securities Interest-bearing securities 1.25 % Safilo Group SpA 2014/ EUR 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) Equity index futures Contracts sold (Underlying: DJ Euro Stoxx 50) EUR Currency futures Contracts purchased (Underlying: Euro USD) EUR Contracts sold (Underlying: Euro USD) EUR Futures contracts to sell currencies EUR/AUD EUR EUR/CHF EUR EUR/GBP EUR EUR/HKD EUR EUR/JPY EUR EUR/SEK EUR EUR/SGD EUR EUR/USD EUR Currency futures (long) Futures contracts to purchase currencies AUD/EUR EUR CHF/EUR EUR GBP/EUR EUR HKD/EUR EUR JPY/EUR EUR SEK/EUR EUR SGD/EUR EUR USD/EUR EUR Option contracts Options on equity index derivatives Options on equity indices Call options sold (Underlying: DJ Euro Stoxx 50) EUR Swaps Credit default swaps Protection buyer (Underlying: ITRAXX Europe) EUR

98 DWS Invest Emerging Markets Corporates Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period USD assets Securities traded on an exchange Interest-bearing securities 5.50 % ABH Financial Ltd Via Alfa Holding Issuance Plc 2014/ EUR % % Bharti Airtel International Netherlands BV -Reg- 2014/ EUR % % Gazprombank OJSC Via GPB Eurobond Finance Plc -Reg- 2014/ EUR % % Petrol DD Ljubljana 2014/ EUR % % Sberbank of Russia Via SB Capital SA -Reg- 2014/ EUR % % SPP-Distribucia AS 2014/ EUR % % Turkiye Vakiflar Bankasi Tao 2014/ EUR % % Vivacom 2013/ EUR % % Moy Park Bondco Plc -Reg- 2014/ GBP % % International Finance Corp. 2014/ INR % % America Movil SAB de CV 2014/ MXN % % America Movil SAB de CV 2014/ MXN % % Abengoa Transmisión Sur, SA -Reg- 2014/ USD % % Abu Dhabi National Energy Co. -Reg- 2014/ USD % % Agile Property Holdings Ltd 2012/ USD % % AHB Tier 1 Sukuk Ltd 2014/2049 *... USD % % AIA Group Ltd 2014/ USD % % Akbank TAS 2012/ USD % % Alfa Bank 2011/ USD % % Alliance Oil Co., Ltd -Reg- 2013/ USD % % Alpha Star Holding Ltd -Reg- 2014/2019 **... USD % % AngloGold Ashanti Holdings Plc 2013/2020 **... USD % % Anton Oilfield Services Group -Reg- 2013/2018 **. USD % % Avianca Holdings SA 2013/ USD % % Baidu, Inc. 2014/ USD % % Banco Daycoval SA 2014/ USD % % Banco Inbursa SA Institucion de Banca Multiple -Reg- 2014/ USD % % Banco Internacional del Peru SAA -Reg- 2014/2029 *... USD % % BancoRegional 2014/ USD % % Bank of Baroda/London -Reg- 2014/ USD % % Bank of Ceylon 2013/ USD % % Bestgain Real Estate Ltd -Reg- 2013/ USD % % Bharti Airtel International 2013/ USD % % Bharti Airtel International Netherlands BV -Reg- 2014/ USD % % BM&FBovespa SA -Reg- 2010/ USD % % BRF SA -Reg- 2014/ USD % % Cemex Finance LLC -Reg- 2012/ USD % % Cemex SAB de CV 2012/ USD % % Cemex SAB de CV -Reg- 2013/ USD % % Cencosud SA 2012/ USD % % CFR International SpA -Reg- 2012/ USD % % Cheung Kong Bond Securities 03 Ltd (MTN) -Reg- 2013/2049 **... USD % % China CITIC Bank International Ltd -Reg- 2014/2049 * **... USD % % China Oil & Gas Group Ltd -Reg- 2013/2018 **... USD % % China Overseas Finance Cayman VI Ltd 2014/2019. USD % % China Overseas Finance Cayman VI Ltd 2014/2024. USD % % China Resources Gas Group Ltd 2012/ USD % % China Resources Land Ltd 2014/2024 **... USD % % China Shipping Overseas Finance 2013 Ltd 2014/ USD % % China State Construction Finance Ltd 2013/ USD % % Cia Brasileira de Aluminio -Reg- 2014/ USD % % CITIC Pacific Ltd 2011/2049 *... USD % % CNOOC Nexen Finance 2014 ULC 2014/ USD % % CNOOC Nexen Finance 2014 ULC 2014/ USD % % Columbus International, Inc. -Reg- 2014/ USD % % Comcel Trust -Reg- 2014/ USD % % Cosl Finance BVI Ltd 2013/ USD % % Country Garden Holdings Co., Ltd -Reg- 2013/2021. USD % % Country Garden Holdings Co., Ltd -Reg- 2014/2019 **... USD % % Credito Real SA 2014/2019 **... USD % % CRCC Yuxiang Ltd 2013/ USD % % Dar Al-Arkan Sukuk Co., Ltd -Reg- 2014/2019 **.. USD % % Delek & Avner 2014/ USD % % Delek & Avner 2014/ USD % % Delek & Avner Tamar Bond Ltd 144A 2014/ USD % % Digicel Ltd 144A 2013/ USD % % DP World Ltd 2014/ USD % % DP World Ltd -Reg- (MTN) 2007/ USD % % Dubai DOF Sukuk Limited 2014/ USD %

99 DWS Invest Emerging Markets Corporates Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period USD assets % Eastern Creation Investment Holdings Ltd 2014/ USD % % Ecopetrol SA 2014/ USD % % EDC Finance Ltd -Reg- 2013/ USD % % EMG Sukuk Ltd 2014/ USD % % Emirates Telecommunications Corp. 2014/ USD % % Emirates Telecommunications Corp. 2014/ USD % % Empresas ICA SAB de CV -Reg- 2014/ USD % % ESAL GmbH -Reg- 2013/ USD % % Evergrande Real Estate Group Ltd -Reg- 2013/2018 USD % % Evraz Group SA -Reg- 2005/ USD % % Evraz Group SA-Reg- 2013/ USD % % Fermaca Enterprises S de RL de CV -Reg- 2014/ USD % % Fibria Overseas Finance Ltd 2014/ USD % % Financiera Independencia SAB de CV -Reg- 2014/ USD % % Franshion Brilliant Ltd 2014/ USD % % Franshion Investment Ltd 2012/ USD % % Fufeng Group Ltd -Reg- 2011/ USD % % Gazprom OAO -Reg- 2012/2022 **... USD % % Gazprom OAO Via Gaz Capital SA -Reg- 2007/2022. USD % % Georgian Railway LLC 2012/ USD % % Globo Comunicacao e Participacoes SA -Reg- 2012/ USD % % GPN Capital SA 2013/ USD % % Greenland Global Investment Ltd 2014/ USD % % Greenland Global Investment Ltd 2014/ USD % % Grupo Bimbo SAB de CV -Reg- 2014/ USD % % Grupo Bimbo SAB de CV -Reg- 2014/ USD % % Grupo Idesa SA de CV -Reg- 2013/ USD % % Grupo Televisa SAB 2005/ USD % % GS Caltex Corp. -Reg- 2014/ USD % % GTL Trade Finance, Inc. -Reg- 2014/ USD % % Hutchison Whampoa International Ltd 2012/2022 **... USD % % Hutchison Whampoa International Ltd -Reg- 2012/2049 *... USD % % ICD Sukuk Co., Ltd 2014/ USD % % ICICI Bank Ltd -Reg- 2007/2022 *... USD % % ICICI Bank Ltd/Hong Kong -Reg- 2010/ USD % % Indian Oil Corp., Ltd (MTN) 2013/2023 **... USD % % Indian Railway Finance Corp. 2014/2019 **... USD % % Indosat Palapa Co. BV -Reg- 2010/ USD % % International Bank of Azerbaijan OJSC 2014/2019. USD % % Israel Electric Corp., Ltd 2013/ USD % % Itau Unibanco Holding SA 2012/ USD % % JBS INVESTMENTS GmbH 2014/ USD % % Kaisa Group Holdings Ltd -Reg- 2013/ USD % % KCA Deutag UK Finance Plc 144A 2014/ USD % % Korea Exchange Bank 2013/ USD % % Korea National Oil Corp. -Reg- 2014/2024 **... USD % % Krung Thai Bank PCL/Cayman Islands 2014/2024 *. USD % % Kuwait Projects Co. (MTN) 2010/ USD % % Lenovo Group Ltd -Reg- 2014/ USD % % Longfor Properties Co., Ltd 2012/2019 **... USD % % Lukoil International Finance BV 2013/2023 **... USD % % MAF Global Securities Ltd 2013/2049 *... USD % % MAF Global Securities Ltd -Reg- 2014/ USD % % Marfrig Holding Europe 2013/ USD % % Marfrig Holding Europe BV -Reg- 2014/ USD % % MDC GMTN BV 2014/ USD % % MHP SA 2013/ USD % % MIE Holdings Corp. -Reg- 2014/ USD % % Minerva Luxembourg SA -Reg- 2014/2049 *... USD % % Nan Fung Treasury Ltd (MTN) 2014/ USD % % Noble Group Ltd 2010/ USD % % Noble Group Ltd 2014/2049 *... USD % % Noble Group Ltd -Reg- 2009/ USD % % Nostrum Oil & Gas Finance BV -Reg- 2014/ USD % % Novatek Finance Ltd 2012/2022 **... USD % % NTPC Ltd 2012/ USD % % OAS Finance Ltd -Reg- 2014/ USD % % OAS Financial Ltd -Reg- 2013/2049 *... USD % % Odebrecht Finance Ltd 2012/ USD % % Odebrecht Finance Ltd -Reg- 2013/ USD % % Odebrecht Finance Ltd -Reg- 2014/ USD % % Odebrecht Oil & Gas Finance Ltd -Reg- 2014/2049 *... USD % % Office Chérifien des Phosphates -Reg- 2014/2024. USD % % Offshore Drilling Holding 2013/ USD % % Oil India Ltd -Reg- 2014/ USD % % Oleoducto Central SA 2014/ USD %

100 DWS Invest Emerging Markets Corporates Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period USD assets 9.00 % Pacnet Ltd -Reg- 2013/ USD % % PCCW-HKT Capital No. 5 Ltd -Reg- 2013/ USD % % Pertamina Persero PT -Reg- (MTN) 2014/ USD % % Petrobras International Finance Co. 2014/ USD % % Petrobras International Finance Co. 2014/ USD % % Petroleos de Venezuela SA 2007/ USD % % Petroleos de Venezuela SA 2012/ USD % % Poly Real Estate Finance -Reg- 2014/ USD % % PTT Exploration & Production PCL -Reg- 2014/2049 *... USD % % PTTEP Canada International Finance Ltd (MTN) -Reg- 2011/ USD % % Puma International Financing SA -Reg- 2014/2021 **... USD % % QGOG Constellation 2012/ USD % % Reliance Holdings USA, Inc. -Reg- 2012/ USD % % Romanian Government International Bond -Reg- (MTN) 2014/2024 **... USD % % Russian Agricultural Bank OJSC -Reg- 2013/2018. USD % % RZD Capital Ltd 2012/ USD % % Samarco Mineracao SA -Reg- 2012/ USD % % San Miguel Corp. (MTN) 2013/ USD % % SAN Miguel Industrias Pet SA -Reg- 2013/ USD % % Saudi Electricity Global 2013/ USD % % Saudi Electricity Global SUKUK Company -Reg- 2014/ USD % % Sberbank of Russia 2013/ USD % % Sberbank of Russia 2014/2024 *... USD % % Severstal OAO 2012/ USD % % Severstal OAO Via Steel Capital SA -Reg- 2013/ USD % % Shimao Property Holdings Ltd 2014/2021 **... USD % % Sibur Securities Ltd -Reg- 2013/ USD % % Sinopec Group Overseas Development 2013 Ltd 2013/ USD % % Sise ve Cam Fabrikaları AS 2013/ USD % % Sistema International Funding SA -Reg- 2012/2019. USD % % SM Investments Corp. 2014/ USD % % Southern Copper Corp. 2012/ USD % % SriLankan Airlines Ltd 2014/ USD % % State Grid Overseas Investment 2014 Ltd -Reg- 2014/ USD % % Sun Hung Kai Properties Capital Market Ltd (MTN) 2014/2024 *... USD % % Swire Properties MTN Financing Ltd (MTN) -Reg- 2013/ USD % % Syndicate Bank/London -Reg- 2014/ USD % % Talent Yield Investments Ltd -Reg- 2012/ USD % % TC Ziraat Bankasi AS -Reg- 2014/ USD % % Telemar Norte Leste SA -Reg- 2010/ USD % % Tencent Holdings Ltd 2014/ USD % % Tenedora Nemak SA de CV -Reg- 2013/ USD % % TMK OAO Via TMK Capital SA -Reg- 2013/ USD % % TML Holdings Pte Ltd 2014/ USD % % Topaz Marine SA -Reg- 2013/ USD % % Turk Eximbank -Reg- 2012/ USD % % Turk Telekomunikasyon AS -Reg- 2014/2019 **.. USD % % Turkey Government International Bond 2014/2024. USD % % Turkiye Garanti Bankasi AS -Reg- 2011/ USD % % Turkiye Halk Bankasi AS -Reg- 2014/ USD % % Turkiye Is Bankasi AS 2013/ USD % % Turkiye Is Bankasi -Reg- 2013/ USD % % Vale SA 2012/ USD % % Vimpel Communications Via VIP Finance Ireland Ltd OJSC -Reg- 2008/ USD % % VimpelCom Holdings BV -Reg- 2011/ USD % % VimpelCom Holdings BV -Reg- 2013/ USD % % Virgolino de Oliveira Finance Ltd -Reg- 2011/2018 **... USD % % Virgolino de Oliveira Finance SA -Reg- 2014/2020. USD % % Votorantim Cimentos SA -Reg- 2011/ USD % % VRG Linhas Aereas SA -Reg- 2013/2023**... USD % % VTB Bank OJSC -Reg- 2012/2049 *... USD % % VTB Bank -Reg- 2010/ USD % % Vtb Capital SA -Reg- 2012/ USD % % West China Cement Ltd -Reg- 2011/ USD % % Woori Bank 2014/ USD % % Yancoal International Trading Co., Ltd 2014/2049 *. USD %

101 DWS Invest Emerging Markets Corporates Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period USD assets Securities admitted to or included in organized markets Interest-bearing securities 8.00 % Axtel SAB de CV -Reg- 2013/2020 *... USD % % B Communications Ltd 144A 2014/ USD % % Banco BMG SA -Reg- 2011/ USD % % Banco de Credito del Peru -Reg- 2012/2027 *... USD % % Banco do Brasil SA/Cayman -Reg- 2014/2049 *... USD % % BBVA Bancomer SA/Grand Cayman -Reg- 2007/2022 * **... USD % % Braskem America Finance Co. -Reg- 2011/ USD % % Cia Minera Ares SAC -Reg- 2014/ USD % % Cielo SA 2012/ USD % % CNPC General Capital Ltd -Reg- 2013/ USD % % Corpbanca SA 2013/ USD % % Cosan Luxembourg SA -Reg- 2013/ USD % % CSN Resources SA -Reg- 2010/ USD % % ENN Energy Holdings Ltd -Reg- 2011/ USD % % Gruposura Finance -Reg- 2011/ USD % % Marfrig Overseas Ltd 2010/ USD % % Metalloinvest Finance Ltd -Reg- 2011/2016 **... USD % % Myriad International Holdings BV -Reg- 2013/2020. USD % % Pacific Rubiales Energy 2011/ USD % % Petroleos de Venezuela SA 2009/ USD % % Ras Laffan Liquefied Natural Gas Co., Ltd III -Reg- 2005/ USD % % Servicios Corporativos Javer SAPI de CV -Reg- 2011/ USD % % Suam Finance BV -Reg- 2014/ USD % % Suzano Trading Ltd -Reg- 2010/ USD % % Tonon Luxembourg SA 2014/ USD % % Turkiye Garanti Bank AS -Reg- 2014/ USD % % VTR Finance BV -Reg- 2014/ USD % Total securities portfolio Derivatives (Minus signs denote short positions) Derivatives on individual securities Warrants on securities Equity warrants ALFA SA -Reg- 2014/ Count USD Interest rate derivatives Receivables/payables Interest rate futures US Treasury Notes 30 year 09/ USD (CBT) Count Currency derivatives Receivables/payables Currency futures (short) Open positions USD/EUR 11.1 million USD/GBP 5 million Closed positions USD/EUR 10.3 million Currency futures (long) Open positions AUD/EUR 0.1 million BRL/EUR 0.4 million CAD/EUR 0.1 million CNH/EUR 1 million EUR/USD million INR/EUR 9.7 million NOK/EUR 0.1 million NZD/EUR 0.1 million RUB/EUR 6 million SGD/USD 0.1 million ZAR/EUR 0.2 million

102 DWS Invest Emerging Markets Corporates Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period USD assets Closed positions AUD/EUR 0.1 million BRL/EUR 0.4 million CAD/EUR 0.1 million CNH/EUR 1 million EUR/USD 0.6 million INR/EUR 10.4 million NOK/EUR 0.1 million NZD/EUR 0.1 million RUB/EUR 6.7 million ZAR/EUR 0.2 million Swaps Receivables/payables Credit default swaps Protection seller Brazil / 1% 20/03/2019 (OTC) (DB)... Count Brazil / 1% 20/12/2018 (OTC) (BR)... Count CADX NA / 5% 20/06/2019 (OTC) (JP)... Count CDX NA / 5% 20/06/2019 (OTC) (CIT)... Count Croatia / 1% 20/06/2019 (OTC) (JP)... Count Dubai / 5% 20/03/2019 (OTC) (BR)... Count Indonesia/ 1% 20/03/2019 (OTC) (CIT)... Count ITRAXX SovX CE / 1% 20/12/2018 (OTC) (BR)... Count ITRAXX USD Asia ex-japan / 1% 20/06/2018 (OTC) (DB)... Count ITRAXX USD Asia ex-japan / 1% 20/12/2018 (OTC) (DB)... Count Mexico / 1% 20/12/2018 (OTC) (BR)... Count Petrobras International Finance / 1% 20/06/2019 (OTC) (CIT). Count State Bank of India / 1% 20/06/2019 (OTC) (DB)... Count Protection buyer CDX EM. / 5% 20/06/2019 (OTC) (CIT)... Count China / 1% 20/06/2019 (OTC) (JP)... Count Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in non-eu/eea currencies Australian dollar... AUD Mexican peso... MXN U.S. dollar... USD Other assets Interest receivable Receivables from exceeding the expense cap Other receivables Receivables from share certificate transactions Total assets *** Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 100

103 DWS Invest Emerging Markets Corporates 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 FCH.... EUR Class LC (BRIC).... EUR Class LC (CC).... EUR Class LCH.... EUR Class LDH.... EUR Class NCH.... EUR Class NDH.... EUR Class PFCH.... EUR Class PFDQH.... EUR Class SGD LC.... SGD Class SGD LDMH.... SGD Class USD FC.... USD Class USD LC.... USD Class USD LD.... USD Class USD LDM... USD Number of shares outstanding Class FCH.... Count Class LC (BRIC).... Count Class LC (CC).... Count 678 Class LCH.... Count Class LDH.... Count Class NCH.... Count Class NDH.... Count Class PFCH.... Count Class PFDQH.... Count Class SGD LC.... Count Class SGD LDMH.... Count Class USD FC.... Count Class USD LC.... Count Class USD LD.... Count Class USD LDM... Count 270 Composition of the reference portfolio (according to CSSF circular 11/512) JPM CEMBI in USD Constituents 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 June 30, 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 0.4, whereby the total of the nominal amounts of the derivatives 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 USD as of the reporting date. Does not include any forward currency transactions entered into for currency hedging purposes at the level of the share classes. Market abbreviations Futures exchanges CBT = Chicago Board of Trade Contracting parties for derivatives (with the exception of currency futures) BR = Barclays Bank Plc CIT = Citigroup Global Markets Limited DB = Deutsche Bank AG JP = JP Morgan Bank Contracting parties for currency futures Deutsche Bank AG Frankfurt and State Street Bank and Trust Company 101

104 DWS Invest Emerging Markets Corporates Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual 4.97 % Alpha Star Holding Ltd -Reg- 2014/2019 USD % AngloGold Ashanti Holdings Plc 2013/2020 USD % Anton Oilfield Services Group -Reg- 2013/2018 USD % BBVA Bancomer SA/Grand Cayman -Reg- 2007/2022 * USD % Cheung Kong Bond Securities 03 Ltd (MTN) -Reg- 2013/2049 USD % China CITIC Bank International Ltd -Reg- 2014/2049 * USD % China Oil & Gas Group Ltd -Reg- 2013/2018 USD % China Resources Land Ltd 2014/2024 USD % Country Garden Holdings Co., Ltd -Reg- 2014/2019 USD % Credito Real SA 2014/2019 USD % Dar Al-Arkan Sukuk Co., Ltd -Reg- 2014/2019 USD % Gazprom OAO -Reg- 2012/2022 USD % Hutchison Whampoa International Ltd 2012/2022 USD % Indian Oil Corp., Ltd (MTN) 2013/2023 USD % Indian Railway Finance Corp. 2014/2019 USD % Korea National Oil Corp. -Reg- 2014/2024 USD % Longfor Properties Co., Ltd 2012/2019 USD % Lukoil International Finance BV 2013/2023 USD % Metalloinvest Finance Ltd -Reg- 2011/2016 USD % Novatek Finance Ltd 2012/2022 USD % Puma International Financing SA -Reg- 2014/2021 USD % Romanian Government International Bond -Reg- (MTN) 2014/2024 USD % Shimao Property Holdings Ltd 2014/2021 USD % Turk Telekomunikasyon AS -Reg- 2014/2019 USD % Virgolino de Oliveira Finance Ltd -Reg- 2011/2018 USD % VRG Linhas Aereas SA -Reg- 2013/2023 USD Total receivables from securities loans Contracting parties for securities loans Barclays Capital Securities Limited, Citigroup Global Markets, Credit Suisse Securities (Europe) Ltd. FI, Deutsche Bank AG FI, Goldman Sachs Int. and J.P. Morgan Securities plc (Fixed Income). Total collateral pledged by third parties for securities loans USD including: Equities USD Other USD Exchange rates (indirect quotes) As of June 30, 2014 Australian dollar... AUD = USD 1 Brazilian real... BRL = USD 1 Canadian dollar... CAD = USD 1 Chinese offshore renminbi... CNH = USD 1 British pound... GBP = USD 1 Euro... EUR = USD 1 Indian rupee... INR = USD 1 Mexican peso... MXN = USD 1 Norwegian krone... NOK = USD 1 New Zealand dollar... NZD = USD 1 Russian rouble... RUB = USD 1 Singapore dollar... SGD = USD 1 South African rand... ZAR = USD 1 Notes on 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. Assets reported in this report are not valued at derived market values. Footnotes 102 *) Floating interest rate. **) Some or all of these securities are lent. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities.

105 DWS Invest Emerging Markets Corporates 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/ units/ currency Purchases/ additions Sales/ disposals Description Count/ units/ currency Purchases/ additions Sales/ disposals Securities traded on an exchange Interest-bearing securities 4.05 % Bestgain Real Estate Lyra Ltd (MTN) 2013/ CNH % BOC Aviation Pte Ltd (MTN) 2013/ CNH % Adria Bidco BV 2013/ EUR % America Movil SAB de CV 2013/2073 *... EUR % Banco Nacional de Desenvolvimento Economico e Social -Reg- 2014/2019. EUR % Bharti Airtel International Netherlands BV 2013/ EUR % Brazilian Government International Bond 2014/ EUR % Croatia Government International Bond 2014/ EUR % Emirates Telecommunications Corp. 2014/ EUR % Petroleos Mexicanos -Reg- 2014/ EUR % PGE Sweden AB 2014/ EUR % Play Finance 1 SA 2014/ EUR % Play Finance 2 SA -Reg- 2014/2019. EUR % Republic of Korea 2014/ EUR % TVN Finance Corp III AB -Reg- 2013/ EUR % ADCB Finance Cayman Ltd (MTN) 2014/ USD % ADCB Finance Cayman Ltd 2013/2023 *... USD % Agile Property Holdings Ltd 2014/ USD % Akbank TAS 2012/ USD % Alam Synergy Pte Ltd 2014/ USD % ALROSA Finance SA -Reg- 2010/ USD % Altice Financing SA 144A 2013/2022. USD % Altice SA 2014/ USD % America Movil SAB de CV 2012/ USD % Aralco Finance SA 2013/ USD % Automotores Gildemeister SA 2011/ USD % Avian Holdings SA -Reg- 2014/2020. USD % Axis Bank Ltd -Reg- 2012/ USD % B Communications Ltd 144A 2014/ USD % Baidu, Inc. 2013/ USD % Banco de Bogota SA -Reg- 2013/2023 USD % Banco de Costa Rica -Reg- 2013/2018 USD % Banco de Credito del Peru 2013/2023 USD % Banco do Brasil SA -Reg- 2009/2049 * USD % Banco do Brasil SA -Reg- 2013/2049 * USD % Banco Santander Mexico SA -Reg- 2013/2024 *... USD % Banco Santander SA 2012/ USD % Banco Votorantim -Reg- (MTN) 2011/ USD % BanColombia SA 2011/ USD % Bank Rakyat Indonesia Persero Tbk PT -Reg- 2013/ USD % Bao-trans Enterprises Ltd -Reg- 2013/ USD % BBVA Bancomer SA Texas 2014/ USD % Braskem Finance Ltd 2014/ USD % Braskem Finance Ltd -Reg- 2012/ USD % BRF SA 2013/ USD % CBQ Finance Ltd 2014/ USD % Central China Real Estate Ltd 2013/ USD % China Cinda Finance 2014 Ltd -Reg- 2014/ USD % China Merchants Land Ltd2013/2018. USD % China Overseas Finance Cayman III Ltd 2013/ USD % China Shanshui Cement Group Ltd -Reg- 2012/ USD % CNOOC Curtis Funding No 1 Pty Ltd -Reg- 2013/ USD % CNPC General Capital Ltd -Reg- 2014/ USD % CNPC General Capital Ltd-Reg- 2013/ USD % Colombia Government International Bond 2014/ USD % Colombia Telecomunicaciones SA ESP -Reg- 2012/ USD % Controladora Mabe SA de CV -Reg- 2009/ USD % DIP Sukuk Ltd -Reg- 2014/ USD % Ecopetrol SA 2013/ USD % Emaar Sukuk Ltd (MTN) 2012/2019. USD % Emirates NBD Tier /2049 *.. USD % Empresa Nacional de Electricidad SA 2014/ USD % ENTEL Chile SA -Reg- 2013/ USD % Far East CPL Ltd SA 2013/ USD % Far East Horizon Ltd (MTN) 2014/ USD % Fibria Overseas Finance -Reg- 2011/ USD % Gazprom OAO -Reg- 2011/ USD % Grupo Bimbo SAB de CV -Reg- 2012/ USD % GTB Finance BV 2013/ USD % Haitong International Finance Holdings Ltd 2013/ USD % HCFB LLC 2012/2020 *... USD % HDFC Bank Ltd (MTN) 2013/ USD % Hongkong Land Finance Cayman Island Co., Ltd (MTN) 2012/ USD % Hungary Government International Bond 2011/ USD % Hungary Government International Bond 2014/ USD % Hungary Government International Bond 2014/ USD % Hysan MTN Ltd (MTN) 2013/ USD % Hyundai Capital Services, Inc. (MTN) 2012/ USD % ICICI Bank Ltd (MTN) 2011/ USD % ICICI Bank Ltd 2013/ USD % Indonesia Government International Bond (MTN) -Reg- 2013/ USD % JBS Investments GmbH -Reg- 2013/ USD % Kaisa Group Holdings Ltd 2014/2018. USD % Kuwait Projects Co. (MTN) 2014/ USD % KWG Property Holding Ltd -Reg- 2014/ USD % Lukoil International Finance BV -Reg- 2013/ USD % MIE Holdings Corp. (MTN) 2013/2018 USD % Millicom International Cellular SA 2013/ USD % MTS International Funding Ltd -Reg- 2010/ USD % NAK Naftogaz Ukraine 2009/ USD % Nan Fung Treasury Ltd (MTN) -Reg- 2012/ USD % Odebrecht Offshore Drilling Finance Ltd -Reg- 2014/ USD % Office Chérifien des Phosphates -Reg / USD % Oil India Ltd -Reg- 2014/ USD % Ooredoo Tamweel Ltd2013/ USD % Pacific Rubiales Energy 2013/ USD % Pacnet Ltd -Reg- 2010/ USD % Perusahaan Gas Negara Persero Tbk PT -Reg- 2014/ USD % Perusahaan Penerbit SBSN Indonesia -Reg- 2012/ USD

106 DWS Invest Emerging Markets Corporates Description Count/ units/ currency Purchases/ additions Sales/ disposals Description Count/ units/ currency Purchases/ additions Sales/ disposals % Petrobras Global Finance BV 2013/2023 USD % Petrobras International Finance Co. 2011/ USD % Petrobras International Finance Co. 2014/ USD % Petroleos de Venezuela SA -Reg- 2012/ USD % Philippine Government International Bond 2014/ USD % QNB Finance Ltd 2013/ USD % Republic of Azerbaijan International Bond -Reg- 2014/ USD % Republic of Costa Rica 2014/ USD % Republic of Korea 2014/ USD % Republic of Serbia 2013/ USD % Rebublic of Sri Lanka -Reg- 2014/ USD % RH International (Singapore) Corporation Pte. Ltd -Reg- 2014/2019 USD % RSHB Capital SA 2014/ USD % Russian Foreign Bond - Eurobond -Reg- 2000/2030 *... USD % SACI Falabella -Reg- 2013/ USD % Sappi Papier Holding GmbH 2012/ USD % Saudi Electricity Global SUKUK Company -Reg- 2014/ USD % Shimao Property Holdings Ltd 2011/ USD % Southern Copper Corp. 2010/ USD % Southern Copper Corp. 2012/ USD % Sri Lanka Government International Bond -Reg- 2014/ USD % State Bank India -Reg- 2014/ USD % State Bank India -Reg- 2014/ USD % Sukuk Funding No 3 Ltd2013/2018. USD % Sun Hung Kai Properties Capital Market Ltd (MTN) 2012/ USD % Swire Properties (MTN) -Reg- 2012/ USD % Tencent Holdings Ltd -Reg- 2012/ USD % Teva Pharmaceutical Finance BV 2012/ USD % Texhong Textile Group Ltd 2013/ USD % Theta Capital Pte Ltd -Reg- 2014/ USD % Turkey Government International Bond 2014/ USD % Turkiye Is Bankasi AS 2012/ USD % United Overseas Bank Ltd 2014/2024 * USD % USJ Acucar e Alcool SA 2012/2019. USD % Vale Overseas Ltd 2012/ USD % Venezuela Government International Bond -Reg- 2011/ USD % VimpelCom Holdings BV -Reg- 2013/ USD % Voto-Votorantim Ltd -Reg- 2010/2021 USD % Woori Bank 2013/ USD % Yancoal International Resources Development Co., Ltd -Reg- 2012/2022 USD % YPF SA -Reg- 2013/ USD % YPF Sociedad Anonima -Reg- 2014/ USD % Yuzhou Properties Co., Ltd 2014/ USD % Zenith Banc Plc -Reg- 2014/ USD % Zhaikmunai LLP 2012/ USD Securities admitted to or included in organized markets Interest-bearing securities 8.25 % Digicel Group Ltd 144A 2012/ EUR % Afren Plc -Reg- 2013/ USD % ALFA SA -Reg- 2014/ USD % Arcos Dorados Holdings, Inc. -Reg- 2013/ USD % Axtel SAB de CV -Reg- 2009/ USD % Baidu, Inc.2012/ USD % Banco de Credito del Peru/Panama -Reg- 2014/2027 *... USD % Banco Industrial e Comercial SA -Reg- 2010/ USD % Banco Nac De desen Econo -Reg- 2014/ USD % Bangkok Bank Co., Ltd 1999/ USD % Bank of China Hong Kong Ltd -Reg- 2010/ USD % Berau Coal PT -Reg- 2012/ USD % Caixa Economica Federal -Reg- 2014/ USD % Cemex Finance LLC -Reg- 2014/ USD % Columbus International, Inc. -Reg- 2009/ USD % Digicel Group Ltd 144A 2014/ USD % Digicel Ltd -Reg- 2009/ USD % Dolphin Energy Ltd -Reg- 2012/2021. USD % Embotelladora Andina SA -Reg- 2013/ USD % Fibra Uno -Reg- 2014/ USD % Fibra Uno -Reg- 2014/ USD % Globo Comunicacao e Participacoes SA -Reg- 2010/ USD % Grupo Aval Ltd 2012/ USD % Indo Energy Finance II BV -Reg- 2013/ USD % JBS Finance II Ltd -Reg- 2010/2018. USD % Marfrig Holding Europe BV -Reg- 2013/ USD % Marfrig Overseas Ltd -Reg- 2014/2020 USD % Mexichem SAB de CV 2012/ USD % MIE Holdings Corp. -Reg- 2011/ USD % Millicom International Cellular SA -Reg- 2013/ USD % NII Capital Corp. 2011/ USD % NII International Telecom SCA 2013/ USD % OAS Investments GmbH 2012/2019. USD % Pacific Rubiales Energy 2013/ USD % Petroleos de Venezuela SA 2011/ USD % Petroleos Mexicanos -Reg- 2014/ USD % State Bank of India -Reg- 2012/2017. USD % State Bank of India -Reg- 2013/2018. USD % Transportadora de Gas Internacional SA ESP -Reg- 2012/ USD % Ukraine Government International Bond -Reg- 2012/ USD % Volcan Cia Minera SAA -Reg- 2012/ USD Securities admitted to or included in organized markets Interest-bearing securities 7.45 % Dominican Republic -Reg- 2014/ USD 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) Equity index futures Contracts purchased (Underlyings: MSCI Emerging Market, S&P 500) USD Contracts sold (Underlyings: MSCI Emerging Market, S&P 500, SBOE VIX) USD Interest rate futures Contracts purchased (Underlyings: US Treasury Note 10-Year, US Treasury Note 30-Year, US Treasury Note 5-Year) USD Contracts sold (Underlyings: US Treasury Note 10-Year, US Treasury Note 30-Year, US Treasury Note 5-Year) USD

107 DWS Invest Emerging Markets Corporates Derivatives (option premiums realized in opening transactions, or total options transactions; in the case of warrants, purchases and sales are shown) Currency futures (short) Value ( 000) Futures contracts to sell currencies EUR/AUD USD 15 EUR/BRL USD 702 EUR/CAD USD 15 EUR/CNH USD 617 EUR/INR USD 627 EUR/NOK USD 15 EUR/NZD USD 15 EUR/RUB USD 680 EUR/ZAR USD 15 USD/EUR USD USD/HUF USD USD/RUB USD USD/SGD USD 85 Currency futures (long) Futures contracts to purchase currencies AUD/EUR USD 31 BRL/EUR USD 869 CAD/EUR USD 30 CNH/EUR USD 762 EUR/USD USD HUF/USD USD INR/EUR USD 774 NOK/EUR USD 31 NZD/EUR USD 31 RUB/EUR USD 824 RUB/USD USD SGD/USD USD 57 ZAR/EUR USD 30 Option contracts Securities options Equity options Put options sold (Underlying: ishares MSCI EAFE) USD 108 Swaps Credit default swaps Protection seller (Underlyings: CDX EM., CDX NA, China, itraxx Asia ex-japan, Republic of South Africa, Republic of Turkey, Russia Federation) USD Protection buyer (Underlyings: CDX EM., CDX NA, China, Indonesia, itraxx Asia ex-japan, Peru, Republic of South Africa, Russia Federation) USD

108 DWS Invest Emerging Markets Satellites Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Dubai Islamic Bank PJSC... Count AED Emaar Properties PJSC.... Count AED SACI Falabella.... Count CLP Grupo de Inversiones Suramericana SA.... Count COP CEZ... Count CZK Komercni Banka AS.... Count CZK Juhayna Food Industries.... Count EGP Alpha Bank AE.... Count EUR Eurobank Ergasias SA.... Count EUR Folli Follie SA.... Count EUR Hellenic Telecommunications Organization SA.... Count EUR Jeronimo Martins SGPS SA... Count EUR National Bank of Greece -ADR-.... Count EUR OPAP SA.... Count EUR Afren Plc.... Count GBP Bank Mandiri Tbk PT.... Count IDR Bank Negara Indonesia Persero Tbk PT.... Count IDR Indocement Tunggal Prakarsa Tbk PT.... Count IDR Indofood Sukses Makmur Tbk PT.... Count IDR Jasa Marga PT.... Count IDR Kalbe Farma Tbk PT... Count IDR Multipolar Tbk PT... Count IDR East African Breweries Ltd.... Count KES Safaricom Ltd... Count KES Eleven Malaysia Holdings Bhd.... Count MYR AirAsia BhD.... Count MYR Gamuda Bhd.... Count MYR Genting Malaysia Bhd.... Count MYR IJM Corp. Bhd.... Count MYR Malayan Banking Bhd.... Count MYR RHB Capital Bhd.... Count MYR Sapurakencana Petroleum Bhd.... Count MYR Sime Darby Bhd... Count MYR Tenaga Nasional Bhd.... Count MYR FBN Holdings Plc.... Count NGN Guaranty Trust Bank Plc.... Count NGN Nestle Nigeria Plc.... Count NGN Zenith Bank Plc.... Count NGN Alicorp SA.... Count PEN Ayala Land, Inc... Count PHP Globe Telecom, Inc.... Count PHP International Container Terminal Services, Inc.... Count PHP Jollibee Foods Corp..... Count PHP Manila Electric Co.... Count PHP Metropolitan Bank & Trust... Count PHP Puregold Price Club, Inc... Count PHP SM Investments Corp.... Count PHP Universal Robina Corp..... Count PHP Bank Pekao SA **.... Count PLN Powszechna Kasa Oszczednosci Bank Polski SA.... Count PLN Powszechny Zaklad Ubezpieczen SA.... Count PLN BEC World PCL.... Count THB CP ALL PCL.... Count THB Kasikornbank PCL.... Count THB Minor International PCL.... Count THB Siam Cement PCL.... Count THB Coca-Cola Icecek AS.... Count TRY Enka Insaat ve Sanayi AS.... Count TRY Haci Omer Sabanci Holding AS.... Count TRY TAV Havalimanlari Holding AS.... Count TRY Cia Cervecerias Unidas SA.... Count USD Corpbanca SA -ADR-.... Count USD Credicorp Ltd.... Count USD Enersis SA -ADR-.... Count USD Global Telecom Holding -GDR-.... Count USD Grana y Montero SA -ADR-.... Count USD Inretail Peru Corp..... Count USD InRetail Peru Corp.... Count USD KCell JSC.... Count USD Popular, Inc.... Count USD Southern Copper Corp..... Count USD Telekomunikasi Indonesia Tbk PT -ADR-.... Count USD Tenaris SA -ADR-.... Count USD YPF SA -ADR-.... Count USD Investment fund units In-group fund units db x-trackers - FTSE VIETNAM ETF (0.650%)... Units EUR db x-trackers - MSCI Pakistan IM (0.650%).... Units USD

109 DWS Invest Emerging Markets Satellites Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Total securities portfolio Derivatives (Minus signs denote short positions) Derivatives on individual securities Warrants on securities Equity warrants John Keells Holdings Plc 07/05/ Count USD Cash at bank Demand deposits at Custodian EUR deposits.... EUR Deposits in other EU/EEA currencies British pound... GBP Polish zloty... PLN Czech koruna.... CZK Hungarian forint.... HUF Deposits in non-eu/eea currencies. Egyptian pound.... EGP Bangladeshi taka.... BDT Chilean peso.... CLP Indonesian rupiah... IDR Canadian dollar... CAD Kenyan shilling.... KES Colombian peso.... COP Malaysian ringgit.... MYR Peruvian nuevo sol... PEN Nigerian naira.... NGN Philippine peso... PHP Singapore dollar... SGD Thai baht.... THB Turkish lira.... TRY U.S. dollar.... USD UAE Dirham.... AED Other assets Dividends receivable Receivables from exceeding the expense cap Receivables from share certificate transactions Total assets Other liabilities Liabilities from cost items Liabilities from share certificate transactions Total liabilities Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class LD... EUR Class NC.... EUR Class SGD LC.... SGD 9.97 Class USD LC.... USD Number of shares outstanding Class FC... Count Class LC... Count Class LD... Count Class NC.... Count Class SGD LC.... Count Class USD LC.... Count

110 DWS Invest Emerging Markets Satellites Composition of the reference portfolio (according to CSSF circular 11/512) MSCI EM (EMERGING MARKETS) Constituents 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 June 30, 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 0.1, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual Bank Pekao SA Count Total receivables from securities loans Contracting party for securities loans UBS AG London Branch Total collateral pledged by third parties for securities loans EUR including: Equities EUR Exchange rates (indirect quotes) As of June 30, UAE Dirham.... AED = EUR 1 Bangladeshi taka.... BDT = EUR 1 Canadian dollar... CAD = EUR 1 Chilean peso.... CLP = EUR 1 Colombian peso.... COP = EUR 1 Czech koruna.... CZK = EUR 1 Egyptian pound.... EGP = EUR 1 British pound... GBP = EUR 1 Hungarian forint.... HUF = EUR 1 Indonesian rupiah... IDR = EUR 1 Kenyan shilling.... KES = EUR 1 Malaysian ringgit.... MYR = EUR 1 Nigerian naira.... NGN = EUR 1 Peruvian nuevo sol... PEN = EUR 1 Philippine peso... PHP = EUR 1 Polish zloty... PLN = EUR 1 Singapore dollar... SGD = EUR 1 Thai baht.... THB = EUR 1 Turkish lira.... TRY = EUR 1 U.S. dollar.... USD = EUR 1 Notes on 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. Assets reported in this report are not 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 investment fund held units of other investment funds (target funds) in the reporting period, 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 **) Some or all of these securities are lent. 108

111 DWS Invest Emerging Markets Satellites 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/ units/ currency Purchases/ additions Sales/ disposals Securities traded on an exchange Equities Astra International Tbk PT.... Count Banco de Chile -ADR-.... Count Banco Santander Chile... Count Bancolombia SA -ADR-.... Count Bank Central Asia Tbk PT.... Count BDO Unibank, Inc.... Count Bumi Serpong Damai PT.... Count CFR Pharmaceuticals SA.... Count Ecopetrol SA -ADR-.... Count Grupo de Inversiones Suramericana SA.... Count GT Capital Holdings, Inc... Count Indofood CBP Sukses Makmur Tbk PT.... Count KazMunaiGas Exploration Production -GDR-.... Count Koza Altin Isletmeleri AS.... Count LPP SA... Count MOL Hungarian Oil and Gas Plc.... Count Nigerian Breweries Plc.... Count OTP Bank Nyrt.... Count Poly Culture Group Corp., Ltd.... Count PTT Global Chemical PCL.... Count PTT PCL -NVDR-.... Count Raiffeisen Bank International AG... Count Raiffeisen International Bank Holding AG.... Count Richter Gedeon Nyrt.... Count Sociedad Quimica y Minera de Chile SA -ADR-.. Count Summarecon Agung Tbk PT.... Count Tempo Scan Pacific Tbk PT.... Count Turkcell Iletisim Hizmetleri AS... Count Turkiye Garanti Bankasi AS.... Count Turkiye Halk Bankasi AS.... Count Unilever Nigeria Plc.... Count Unlisted securities Equities Anadolu Efes Birac AS... Count Bim Birlesik Magazalar AS... Count Investment fund units In-group fund units db x-trackers MSCI Bangladesh IM TRN Index (0.650%).... Units

112 DWS Invest Emerging Markets Top Dividend Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Ambev SA.... Count BRL Banco Bradesco SA -Pref-.... Count BRL BB Seguridade Participacoes... Count BRL BM&FBOVESPA SA... Count BRL BRF - Brasil Foods SA.... Count BRL Cia Brasileira de Distribuicao Grupo Pao de Acucar.... Count BRL Cia de Concessoes Rodoviarias... Count BRL Cielo SA.... Count BRL Itau Unibanco Holding SA -Pref-.... Count BRL Natura Cosmeticos SA... Count BRL Petroleo Brasileiro SA.... Count BRL Souza Cruz SA.... Count BRL Telefonica Brasil SA.... Count BRL AIA Group Ltd.... Count HKD Bank of China Ltd -H-... Count HKD Cheung Kong Infrastructure Holdings Ltd.... Count HKD China Construction Bank Corp. -H-.... Count HKD China Life Insurance Co., Ltd -H-... Count HKD China Mobile Ltd.... Count HKD China Pacific Insurance Group Co., Ltd.... Count HKD China Petroleum & Chemical Corp. -H-.... Count HKD China Railway Construction Corp. -H- **... Count HKD China Shenhua Energy Co., Ltd -H-.... Count HKD CLP Holdings Ltd.... Count HKD CNOOC Ltd.... Count HKD Cosco Pacific Ltd.... Count HKD Great Wall Motor Co., Ltd -H-.... Count HKD Guangdong Investment Ltd.... Count HKD Guangzhou R&F Properties Co., Ltd -H-.... Count HKD Industrial & Commercial Bank of China -H-.... Count HKD Samsonite International SA.... Count HKD Sands China Ltd... Count HKD SJM Holdings Ltd.... Count HKD Techtronic Industries Co. -H-.... Count HKD Tencent Holdings Ltd... Count HKD VTech Holdings Ltd.... Count HKD Astra International Tbk PT.... Count IDR Bank Rakyat Indonesia Persero Tbk PT... Count IDR Indofood CBP Sukses Makmur Tbk PT.... Count IDR Perusahaan Gas Negara PT.... Count IDR Semen Gresik Persero Tbk PT... Count IDR Telekomunikasi Indonesia Persero Tbk PT.... Count IDR Colgate-Palmolive India Ltd.... Count INR ITC Ltd.... Count INR Larsen & Toubro Ltd.... Count INR Hyundai Motor Co.... Count KRW KT&G Corp... Count KRW LG Chem Ltd.... Count KRW Samsung Electronics Co., Ltd.... Count KRW Samsung Electronics Co., Ltd -Pref-.... Count KRW Shinhan Financial Group Co., Ltd... Count KRW SK Telecom Co., Ltd.... Count KRW Fomento Economico Mexicano SAB de CV.... Count MXN Grupo Aeroportuario del Sureste SAB de CV.... Count MXN Grupo Mexico SAB de CV -B-.... Count MXN CIMB Group Holdings Bhd.... Count MYR DiGi.Com Bhd.... Count MYR Gamuda Bhd.... Count MYR IHH Healthcare Bhd 144A.... Count MYR Malayan Banking Bhd.... Count MYR Petronas Chemicals Group BHD.... Count MYR Ayala Land, Inc... Count PHP BDO Unibank, Inc.... Count PHP Metropolitan Bank & Trust... Count PHP Philippine Long Distance Telephone Co.... Count PHP Bank Pekao SA **.... Count PLN Powszechna Kasa Oszczednosci Bank Polski SA.... Count PLN Powszechny Zaklad Ubezpieczen SA.... Count PLN SembCorp. Industries Ltd.... Count SGD Singapore Post Ltd.... Count SGD Singapore Telecommunications Ltd.... Count SGD Advanced Info Service PCL.... Count THB CP ALL PCL.... Count THB Kasikornbank PCL.... Count THB Minor International PCL.... Count THB PTT PCL.... Count THB Siam Cement PCL -Reg-.... Count THB Turk Telekomunikasyon AS.... Count TRY Turkcell Iletisim Hizmetleri AS... Count TRY Turkiye Halk Bankasi AS.... Count TRY

113 DWS Invest Emerging Markets Top Dividend Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Airtac International Group.... Count TWD Asustek Computer, Inc.... Count TWD Cathay Financial Holding Co., Ltd.... Count TWD Chailease Holding Co., Ltd... Count TWD Chicony Electronics Co., Ltd.... Count TWD China Life Insurance Co., Ltd.... Count TWD Fubon Financial Holding Co., Ltd.... Count TWD Ginko International Co., Ltd.... Count TWD Largan Precision Co., Ltd... Count TWD MediaTek, Inc.... Count TWD Taiwan Cement Corp..... Count TWD Taiwan Mobile Co., Ltd.... Count TWD Taiwan Semiconductor Manufacturing Co., Ltd.... Count TWD Chunghwa Telecom Co., Ltd -ADR-... Count USD Gazprom -ADR-.... Count USD Grupo Financiero Santander -ADR-.... Count USD ICICI Bank Ltd -ADR-.... Count USD LUKOIL -ADR- -US.... Count USD MMC Norilsk Nickel -ADR-.... Count USD Mobile Telesystems OJSC -ADR-.... Count USD Sberbank of Russia -ADR-.... Count USD Taiwan Semiconductor Manufacturing Co., Ltd -ADR-.... Count USD Vale SA -ADR-.... Count USD Bidvest Group Ltd.... Count ZAR Kumba Iron Ore Ltd.... Count ZAR MTN Group Ltd.... Count ZAR Shoprite Holdings Ltd.... Count ZAR Unlisted securities Equities Tatneft -GDR-... Count USD Total securities portfolio Derivatives (Minus signs denote short positions) Currency derivatives Receivables/payables Currency futures (short) Closed positions EUR/SGD 0.1 million GBP/SGD 0.1 million Currency futures (long) Open positions SGD/CHF 0.1 million SGD/EUR 0.1 million SGD/GBP 0.1 million SGD/HKD 0.1 million SGD/USD 0.1 million Closed positions SGD/CHF 0.1 million SGD/HKD 0.1 million SGD/USD 0.1 million Cash at bank Demand deposits at Custodian EUR deposits.... EUR Deposits in other EU/EEA currencies British pound... GBP Polish zloty... PLN Czech koruna.... CZK

114 DWS Invest Emerging Markets Top Dividend Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Deposits in non-eu/eea currencies.. Egyptian pound.... EGP Brazilian real... BRL Hong Kong dollar... HKD Indian rupee.... INR Indonesian rupiah... IDR Malaysian ringgit.... MYR Mexican peso... MXN New Taiwan dollar.... TWD Philippine peso... PHP Singapore dollar... SGD South African rand.... ZAR South Korean won.... KRW Thai baht.... THB Turkish lira.... TRY U.S. dollar.... USD Other assets Dividends receivable Other receivables Receivables from share certificate transactions Total assets *** Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class LD... EUR Class NC.... EUR Class PFC... EUR Class PFD... EUR Class SGD LCH (P)... SGD Class SGD LDQH (P).... SGD Class USD FC.... USD Class USD LC.... USD Class USD LDQ.... USD Number of shares outstanding Class FC... Count Class LC... Count Class LD... Count Class NC.... Count Class PFC... Count 378 Class PFD... Count 574 Class SGD LCH (P)... Count Class SGD LDQH (P).... Count Class USD FC.... Count Class USD LC.... Count Class USD LDQ.... Count 270 Composition of the reference portfolio (according to CSSF circular 11/512) MSCI EM (EMERGING MARKETS) Constituents Market risk exposure (value-at-risk) (according to CSSF circular 11/512) Lowest market risk exposure.... % Highest market risk exposure.... % Average market risk exposure... %

115 DWS Invest Emerging Markets Top Dividend The values-at-risk were calculated for the period from January 1, 2014, through June 30, 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 0.0, whereby the total of the nominal amounts of the derivatives 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. Does not include any forward currency transactions entered into for currency hedging purposes at the level of the share classes. Market abbreviations Contracting party for currency futures State Street Bank and Trust Company Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual Bank Pekao SA Count China Railway Construction Corp. -H- Count Total receivables from securities loans Contracting parties for securities loans Macquarie Bank Limited and Nomura International Plc. Total collateral pledged by third parties for securities loans EUR including: Equities EUR Other EUR Exchange rates (indirect quotes) As of June 30, 2014 Brazilian real... BRL = EUR 1 Czech koruna... CZK = EUR 1 Egyptian pound... EGP = EUR 1 British pound... GBP = EUR 1 Hong Kong dollar... HKD = EUR 1 Indian rupee... INR = EUR 1 Indonesian rupiah... IDR = EUR 1 South Korean won... KRW = EUR 1 Malaysian ringgit... MYR = EUR 1 Mexican peso... MXN = EUR 1 Philippine peso... PHP = EUR 1 Polish zloty... PLN = EUR 1 Singapore dollar... SGD = EUR 1 Thai baht... THB = EUR 1 Turkish lira... TRY = EUR 1 New Taiwan dollar... TWD = EUR 1 U.S. dollar... USD = EUR 1 South African rand... ZAR = EUR 1 Notes on 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. Assets reported in this report are not valued at derived market values. Footnotes **) Some or all of these securities are lent. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 113

116 DWS Invest Emerging Markets Top Dividend 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 Securities traded on an exchange Count/ units/ currency Purchases/ additions Sales/ disposals Equities Ambev SA -Rights Exp 27May Count America Movil SAB de CV -L-.... Count Mindray Medical International Ltd -ADR-... Count Minth Group Ltd.... Count Nestle India Ltd.... Count Tencent Holdings Ltd... Count Tencent Holdings Ltd... Count UEM Land Holdings Bhd.... Count 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 (short) Value ( 000) Futures contracts to sell currencies CHF/SGD EUR 28 EUR/SGD EUR 9 GBP/SGD EUR 6 HKD/SGD EUR 46 USD/SGD EUR 23 Currency futures (long) Futures contracts to purchase currencies SGD/CHF EUR 33 SGD/EUR EUR 8 SGD/GBP EUR 8 SGD/HKD EUR 56 SGD/USD EUR

117 DWS Invest Euro Bonds (Premium) Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Interest-bearing securities % Autonomous Community of Catalonia (MTN) 2009/ CHF % % Austria Government Bond 2008/2019 **... EUR % % Autonomous Community of Madrid Spain 2006/ EUR % % Autonomous Community of Madrid Spain 2013/ EUR % % Autonomous Community of Madrid Spain 2014/ EUR % % Ayt Cedulas Cajas Global (MTN) 2006/2023 **... EUR % % Banco Espirito Santo SA 2009/ EUR % % Banco Mare Nostrum SA 2014/2029 **... EUR % % Bank of Ireland Mortgage Bank (MTN) 2009/2014. EUR % % Bankia SA 2009/2016 **... EUR % % Belgium Government Bond 1998/2028 **... EUR % % Belgium Government Bond 2010/ EUR % % Belgium Government Bond 2011/2017 **... EUR % % Bundesrepublik Deutschland 2000/2031 **... EUR % % Bundesrepublik Deutschland 2009/2019 **... EUR % % Bundesrepublik Deutschland 2012/2022 **... EUR % % Caixa d Estalvis de Catalunya 2007/ EUR % % Cedulas TDA 6 Fondo de Titulizacion de Activos 2006/ EUR % % Cie de Financement Foncier SA (MTN) 2010/2025. EUR % % European Financial Stability Facility Treasury Bill 2013/ EUR % % FADE - Fondo de Amortizacion del Deficit Electrico -Reg- 2011/ EUR % % France Government Bond OAT 2005/2055 **... EUR % % France Government Bond OAT 2009/2019 **... EUR % % France Government Bond OAT 2013/2018 **... EUR % % France Government Bond OAT 2014/2019 **... EUR % % Hungary Government International Bond (MTN) 2005/2020 **... EUR % % Hungary Government International Bond 2006/ EUR % % Ireland Government Bond 2009/ EUR % % Ireland Government Bond 2010/ EUR % % Italy Buoni Poliennali del Tesoro 2000/ EUR % % Italy Buoni Poliennali del Tesoro 2005/2037 **... EUR % % Italy Buoni Poliennali del Tesoro 2008/2019 **... EUR % % Italy Buoni Poliennali del Tesoro 2012/ EUR % % Italy Buoni Poliennali del Tesoro 2012/ EUR % % Italy Buoni Poliennali del Tesoro 2013/ EUR % % Lloyds TSB Bank Plc (MTN) 2010/ EUR % % Netherlands Government Bond 2012/ EUR % % Portugal Obrigacoes do Tesouro OT 2006/ EUR % % Portugal Obrigacoes do Tesouro OT 2005/ EUR % % Portugal Obrigacoes do Tesouro OT 2005/ EUR % % Republic of South Africa 2012/ EUR % % Romanian Government International Bond 2011/ EUR % % Romanian Government International Bond 2013/ EUR % % Sampo Bank Plc 2012/ EUR % % Spain Government Bond 144A 2013/ EUR % % Spain Government Bond 2001/2032 **... EUR % % Spain Government Bond 2005/ EUR % Securities admitted to or included in organized markets Interest-bearing securities 4.00 % Finland Government Bond 2009/ EUR % Total securities portfolio Derivatives (Minus signs denote short positions) Interest rate derivatives Receivables/payables Interest rate futures Germany Federal Republic Bonds 5 year 09/ EUR (XEUR)... Count Germany Federal Republic Notes 10 year 09/ EUR (XEUR)... Count

118 DWS Invest Euro Bonds (Premium) Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Option contracts Options on interest rate futures Call OGBL 08/ EUR (OTC) (DB).... Count Call OGBL 08/ EUR (OTC) (DB).... Count Call OGBL 08/ EUR (OTC) (DB).... Count Call OGBL 08/ EUR (OTC) (DB).... Count Call OGBL 08/ EUR (OTC) (DB).... Count Call OGBL 08/ EUR (OTC) (DB).... Count Call OGBL 09/ EUR (OTC) (DB).... Count Call OGBL 09/ EUR (OTC) (DB).... Count Call OGBL 09/ EUR (OTC) (DB).... Count Call OGBL 09/ EUR (OTC) (DB).... Count Call OGBL 09/ EUR (OTC) (DB).... Count Call OGBL 09/ EUR (OTC) (DB).... Count Call OGBL 09/ EUR (OTC) (DB).... Count Call OGBL 09/ EUR (OTC) (DB).... Count Call OGBL 09/ EUR (OTC) (DB).... Count Call OGBM 08/ EUR (OTC) (DB).... Count Call OGBM 09/ EUR (OTC) (DB).... Count Call OGBM 09/ EUR (OTC) (DB).... Count Call OGBM 09/ EUR (OTC) (DB).... Count Call OGBM 09/ EUR (OTC) (DB).... Count Call OGBM 09/ EUR (OTC) (DB).... Count Put OGBL 09/ EUR (OTC) (DB)... Count Cash at bank Demand deposits at Custodian EUR deposits.... EUR Deposits in other EU/EEA currencies British pound... GBP Swedish krona.... SEK Deposits in non-eu/eea currencies Japanese yen... JPY Swiss franc.... CHF U.S. dollar.... USD Other assets Interest receivable Receivables from share certificate transactions Total assets *** Other liabilities Liabilities from cost items Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class LD... EUR Class NC.... EUR Number of shares outstanding Class FC... Count Class LC... Count Class LD... Count Class NC.... Count

119 DWS Invest Euro Bonds (Premium) Composition of the reference portfolio (according to CSSF circular 11/512) 70% iboxx EUR Sovereigns in EUR Constituents, 30% iboxx EUR Collateralized Constituents 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 June 30, 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 0.5, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Market abbreviations Futures exchanges XEUR = Eurex Contracting party for derivatives (with the exception of currency futures) DB = Deutsche Bank AG Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual 4.35 % Austria Government Bond 2008/2019 EUR % Ayt Cedulas Cajas Global (MTN) 2006/2023 EUR % Banco Mare Nostrum SA 2014/2029 EUR % Bankia SA 2009/2016 EUR % Belgium Government Bond 1998/2028 EUR % Belgium Government Bond 2011/2017 EUR % Bundesrepublik Deutschland 2000/2031 EUR % Bundesrepublik Deutschland 2009/2019 EUR % Bundesrepublik Deutschland 2012/2022 EUR % France Government Bond OAT 2005/2055 EUR % France Government Bond OAT 2009/2019 EUR % France Government Bond OAT 2013/2018 EUR % France Government Bond OAT 2014/2019 EUR % Hungary Government International Bond (MTN) 2005/2020 EUR % Italy Buoni Poliennali Del Tesoro 2005/2037 EUR % Italy Buoni Poliennali del Tesoro 2008/2019 EUR % Spain Government Bond 2001/2032 EUR Total receivables from securities loans Contracting parties for securities loans BNP Paribas Arbitrage SNC, Barclays Capital Securities Limited, Citigroup Global Markets, Commerzbank Frankfurt, Deutsche Bank AG FI, Landesbank Baden-Württemberg, Morgan Stanley Intl. FI, Nomura International Plc, Norddeutsche Landesbank, Société Générale FI, The Royal Bank of Scotland Plc and UniCredit Bank AG. Total collateral pledged by third parties for securities loans EUR including: Equities EUR Other EUR Exchange rates (indirect quotes) As of June 30, 2014 Swiss franc.... CHF = EUR 1 British pound... GBP = EUR 1 Japanese yen... JPY = EUR 1 Swedish krona.... SEK = EUR 1 U.S. dollar.... USD = EUR 1 117

120 DWS Invest Euro Bonds (Premium) Notes on 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. Assets stated in this report are not valued at derived market values. Footnotes **) Some or all of these securities are lent. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 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 Securities traded on an exchange Count/ units/ currency Purchases/ additions Sales/ disposals 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-bearing securities 5.00 % FADE 2011/ EUR % FADE 2012/ EUR % Fund for Ordered Bank Restructuring 2011/ EUR % Fund Ordered Bank 2009/ EUR % Italy Buoni Poliennali del Tesoro 2007/ EUR % Spain Government Bond 2010/2020. EUR % Spain Government Bond 2013/2016. EUR Investment fund units In-group fund units db x-trackers II IBOXX SPAIN 1-3 UCITS ETF (0.050%)... Units Interest rate futures Contracts purchased (Underlyings: Euro BOBL, Euro Bund) EUR Contracts sold (Underlying: Euro Bund) EUR Option contracts Options on interest rate derivatives Options on bond index futures Call options purchased (Underlyings: OGBL, OGBM) EUR Call options sold (Underlying: OGBL) EUR 8 Put options sold (Underlying: OGBL) EUR

121 DWS Invest Euro Bonds (Short) Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Interest-bearing securities % AIB Mortgage Bank (MTN) 2010/ EUR % % AIB Mortgage Bank (MTN) 2012/2015 **... EUR % % AIB Mortgage Bank (MTN) 2013/ EUR % % Allied Irish Banks Plc (MTN) 2010/ EUR % % Anglo American Capital Plc (MTN) 2014/ EUR % % AyT Cedulas Cajas Global 2005/ EUR % % AyT Cedulas Cajas IX Fondo de Titulizacion 2005/ EUR % % AyT Cedulas Cajas VIII Fondo de Titulizacion de Activos 2004/ EUR % % Banca Monte dei Paschi di Siena SpA 2012/2017. EUR % % Banco Bilbao Vizcaya Argentaria SA 2011/ EUR % % Banco Bilbao Vizcaya Argentaria SA 2011/ EUR % % Banco de Sabadell SA (MTN) 2012/ EUR % % Banco Espanol de Credito SA 2005/ EUR % % Banco Espanol de Credito SA 2012/ EUR % % Banco Financiero y de Ahorros SA 2011/ EUR % % Banco Popolare SC (MTN) -Reg- 2011/ EUR % % Banco Popolare SC 2010/ EUR % % Banco Popular Espanol SA 2006/ EUR % % Banco Santander SA 2011/ EUR % % Banco Santander SA 2011/ EUR % % Banco Santander SA 2012/ EUR % % Banco Santander Totta SA (MTN) 2014/ EUR % % Bank Nederlandse Gemeenten (MTN) 2011/2016. EUR % % Bank of Ireland Mortgage Bank (MTN) 2009/2014. EUR % % Bank of Ireland Mortgage Bank 2012/ EUR % % Bankia SA 2002/2014 **... EUR % % Bankinter SA 2009/ EUR % % Bankinter SA 2012/ EUR % % Banque Federative du Credit Mutuel SA (MTN) 2010/ EUR % % Belgium Government Bond 2002/2017 **... EUR % % Belgium Government Bond 2004/2014 **... EUR % % Belgium Government Bond 2007/2017 **... EUR % % Belgium Government Bond 2009/2015 **... EUR % % Belgium Government Bond 2010/2016 **... EUR % % BMW Finance NV (MTN) 2013/ EUR % % Bonos y Obligaciones del Estado 2013/2017 **.. EUR % % BPCE SA 2012/ EUR % % Bradford & Bingley Plc (MTN) 2006/ EUR % % Caixa Geral de Depositos SA 2006/ EUR % % CaixaBank 2005/ EUR % % CaixaBank 2012/ EUR % % CaixaBank SA 2011/ EUR % % CaixaBank SA 2011/ EUR % % Caja de Ahorros de Valencia Castellon y Alicante (MTN) 2009/ EUR % % Catalunya Banc SA 2012/ EUR % % Cedulas TDA 2004/ EUR % % CIF Euromortgage SA (MTN) 2006/ EUR % % Credito Emiliano SpA (MTN) 2014/ EUR % % Dexia Credit Local SA (MTN) 2013/2016 **... EUR % % Dexia Municipal Agency SA (MTN) 2005/ EUR % % Dexia Municipal Agency SA (MTN) 2009/2016 **. EUR % % EBS Ltd (MTN) 2010/ EUR % % European Financial Stability Facility Treasury Bill (MTN) 2013/2016 **... EUR % % FADE - Fondo de Amortizacion del Deficit Electrico (MTN) 2012/ EUR % % FADE - Fondo de Amortizacion del Deficit Electrico (MTN) 2013/ EUR % % FADE - Fondo de Amortizacion del Deficit Electrico (MTN) 2013/ EUR % % FADE - Fondo de Amortizacion del Deficit Electrico (MTN) 2014/ EUR % % France Government Bond OAT 2001/2016 **... EUR % % French Treasury Note BTAN 2009/2014 **... EUR % % French Treasury Note BTAN 2010/2015 **... EUR % % French Treasury Note BTAN 2011/2016 **... EUR % % Fund Ordered Bank 2009/ EUR % % Gazprom OAO (MTN) -Reg- 2012/ EUR % % GE Capital European Funding (MTN) 2011/ EUR % % Governor & Co. of the Bank of Ireland (MTN) 2010/ EUR % % IM Cedulas / EUR % % IM Cedulas 6-M1 - Fondo de Titulizacion 2005/2015 EUR % % Instituto de Credito Oficial (MTN) 2010/ EUR % % Instituto de Credito Oficial (MTN) 2011/ EUR % % Instituto de Credito Oficial (MTN) 2011/ EUR %

122 DWS Invest Euro Bonds (Short) Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets 4.50 % Instituto de Credito Oficial 2012/2016 **... EUR % % Instituto de Credito Oficial 2013/2015 **... EUR % % Instituto de Credito Oficial 2013/ EUR % % IPIC GMTN Ltd (MTN) 2011/ EUR % % Italy Buoni Poliennali del Tesoro 2002/ EUR % % Italy Buoni Poliennali del Tesoro 2004/ EUR % % Italy Buoni Poliennali del Tesoro 2005/ EUR % % Italy Buoni Poliennali del Tesoro 2007/ EUR % % Italy Buoni Poliennali del Tesoro 2010/ EUR % % Italy Buoni Poliennali del Tesoro 2010/ EUR % % Italy Buoni Poliennali del Tesoro 2010/ EUR % % Italy Buoni Poliennali del Tesoro 2011/ EUR % % Italy Buoni Poliennali del Tesoro 2011/ EUR % % Italy Buoni Poliennali del Tesoro 2011/ EUR % % Italy Buoni Poliennali del Tesoro 2012/ EUR % % Italy Buoni Poliennali del Tesoro 2012/ EUR % % Italy Buoni Poliennali del Tesoro 2013/ EUR % % Italy Buoni Poliennali del Tesoro 2013/ EUR % % Italy Buoni Poliennali del Tesoro 2013/ EUR % % Italy Buoni Poliennali del Tesoro 2013/ EUR % % Italy Government International Bond (MTN) 2001/ EUR % % Kingdom of Belgium 2005/2015 **... EUR % % Kutxabank SA 2009/ EUR % % La Caja de Ahorros y Pensiones de Barcelona 2006/ EUR % % Landwirtschaftliche Rentenbank (MTN) 2013/2016. EUR % % Lithuania Government International Bond 2007/ EUR % % NCG Banco SA 2012/2014 **... EUR % % Nuernberger Hypothekenbank 2000/ EUR % % Permanent TSB Plc (MTN) 2010/ EUR % % Petrobras Global Finance BV 2014/2018 **... EUR % % Poland Government International Bond (MTN) 2006/2016 **... EUR % % Propertize BV (MTN) 2014/2017 *... EUR % % Raiffeisen Bank International AG (MTN) 2013/2018. EUR % % Republika Slovenija -Reg- 2014/ EUR % % Santander Consumer Finance SA 2006/ EUR % % Slovakia Government Bond (MTN) 2009/2015 **.. EUR % % Spain Government Bond 2002/ EUR % % Spain Government Bond 2005/ EUR % % Spain Government Bond 2006/ EUR % % Spain Government Bond 2007/ EUR % % Spain Government Bond 2010/ EUR % % Spain Government Bond 2011/ EUR % % Spain Government Bond 2012/ EUR % % Spain Government Bond 2012/ EUR % % Spain Government Bond 2013/ EUR % % SpareBank 1 Boligkreditt AS (MTN) 2012/ EUR % % Turkey Government International Bond 2006/2016. EUR % % Unicredot SpA (MTN) 2010/ EUR % % Unione di Banche Italiane SCpA (MTN) 2014/2019. EUR % % Vnesheconombank Via VEB Finance Plc -Reg- 2013/ EUR % % Volkswagen Bank GmbH (MTN) 2013/2016 *... EUR % Investment fund units In-group fund units DWS Institutional - Money Plus (0.150% +)... Units EUR Total securities portfolio Derivatives (Minus signs denote short positions) Interest rate derivatives Receivables/payables Option contracts Options on interest rate futures Call OGBL 09/ EUR (OTC) (DB)... Count Call OGBL 09/ EUR (OTC) (DB)... Count

123 DWS Invest Euro Bonds (Short) Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Cash at bank Demand deposits at Custodian EUR deposits.... EUR Deposits in other EU/EEA currencies Danish krone.... DKK Deposits in non-eu/eea currencies U.S. dollar.... USD Other assets Interest receivable Other receivables Receivables from share certificate transactions Total assets *** Other liabilities Liabilities from cost items Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class LD... EUR Class NC.... EUR Class PFC... EUR Class PFDQ.... EUR Number of shares outstanding Class FC... Count Class LC... Count Class LD... Count Class NC.... Count Class PFC... Count Class PFDQ.... Count Composition of the reference portfolio (according to CSSF circular 11/512) iboxx EUR Overall 1-3 Constituents 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 June 30, 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 0.1, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Market abbreviations Contracting party for derivatives (with the exception of currency futures) DB = Deutsche Bank AG 121

124 DWS Invest Euro Bonds (Short) Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual % AIB Mortgage Bank (MTN) 2012/2015 EUR % Bankia SA 2002/2014 EUR % Belgium Government Bond 2002/2017 EUR % Belgium Government Bond 2004/2014 EUR % Belgium Government Bond 2007/2017 EUR % Belgium Government Bond 2009/2015 EUR % Belgium Government Bond 2010/2016 EUR % Bonos y Obligaciones del Estado 2013/2017 EUR % Dexia Credit Local SA (MTN) 2013/2016 EUR % Dexia Municipal Agency SA (MTN) 2009/2016 EUR % European Financial Stability Facility Treasury Bill (MTN) 2013/2016 EUR % France Government Bond OAT 2001/2016 EUR % French Treasury Note BTAN 2009/2014 EUR % French Treasury Note BTAN 2010/2015 EUR % French Treasury Note BTAN 2011/2016 EUR % Instituto de Credito Oficial 2012/2016 EUR % Instituto de Credito Oficial 2013/2015 EUR % Kingdom of Belgium 2005/2015 EUR % NCG Banco SA 2012/2014 EUR % Petrobras Global Finance BV 2014/2018 EUR % Poland Government International Bond (MTN) 2006/2016 EUR % Slovakia Government Bond (MTN) 2009/2015 EUR Total receivables from securities loans Contracting parties for securities loans BNP Paribas Arbitrage SNC, Credit Suisse AG, Credit Suisse Securities (Europe) Ltd. FI, DekaBank Deutsche Girozentrale, Deutsche Bank AG FI, Goldman Sachs Int. FI, Morgan Stanley Intl. FI, Société Générale FI, The Royal Bank of Scotland Plc, UBS AG London Branch and UniCredit Bank AG. Total collateral pledged by third parties for securities loans EUR including: Cash at bank EUR Equities EUR Other EUR Exchange rates (indirect quotes) As of June 30, 2014 Danish krone... DKK = EUR 1 U.S. dollar... USD = EUR 1 Notes on 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. Assets reported in this report are not 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 investment fund held units of other investment funds (target funds) in the reporting period, 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 *) Floating interest rate. **) Some or all of these securities are lent. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 122

125 DWS Invest Euro Bonds (Short) 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 Securities traded on an exchange Count/ units/ currency Purchases/ additions Sales/ disposals Interest-bearing securities % Abbey National Treasury Services Plc (MTN) 2011/ EUR % AyT Cedulas Cajas VI Fondo de Titulizacion de Activos 2004/2014. EUR % Banco Cooperativo Espanol SA 2010/ EUR % Bankia SA 2011/ EUR % Bankia SA 2012/ EUR % Czech Republic International (MTN) 2004/ EUR % DZ Bank AG Deutsche Zentral-Genossenschaftsbank (MTN) 2009/ EUR % FADE 2011/ EUR % France Government Bond OAT 2009/ EUR % Fund Ordered Bank 2011/ EUR % Hungary Government International Bond 2004/ EUR % Instituto de Credito Oficial (MTN) 2011/ EUR % Italy Buoni Ordinari del Tesoro BOT 2013/ EUR % Italy Buoni Poliennali del Tesoro 2007/ EUR % Italy Buoni Poliennali del Tesoro 2009/ EUR % Italy Buoni Poliennali del Tesoro 2013/ EUR % Slovakia Government Bond 2011/ EUR % Spain Government Bond 2008/2014. EUR % Spain Government Bond 2012/2018. EUR % Spain Government Bond 2013/2018. EUR % Spain Government Bond 2014/2019. EUR 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 (Underlyings: EURO Bund, Euro Futures) EUR Option contracts Options on interest rate derivatives Options on bond index futures Call options purchased (Underlying: OGBL) EUR 853 Put options purchased (Underlying: OGBL) EUR 300 Put options sold (Underlying: OGBL) EUR 272 Investment fund units In-group fund units DWS Institutional - Euro Collateralized Bonds (0.300% +)... Units

126 DWS Invest Euro Corporate Bonds Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Interest-bearing securities 4.25 % Aareal Bank AG 2014/2026 *... EUR % % Abbey National Treasury Services PLC/London (MTN) 2014/ EUR % % ABN AMRO Bank NV 2013/ EUR % % Achmea BV (MTN) 2013/2043 * **... EUR % % Achmea BV 2013/ EUR % % Alliander NV 2013/2049 *... EUR % % Allianz Finance II BV (MTN) 2012/ EUR % % Alstom SA (MTN) 2013/ EUR % % Amcor Ltd (MTN) 2013/ EUR % % Anglo American Capital 2012/ EUR % % Anglo American Capital Plc (MTN) 2014/ EUR % % ASML Holding NV 2013/ EUR % % Assicurazioni Generali SpA (MTN) 2014/ EUR % % AT&T, Inc. 2014/ EUR % % Autonomous Community of Madrid Spain 2014/ EUR % % Autoroutes du Sud de la France (MTN) 2010/2020. EUR % % AXA SA (MTN) 2013/2043 *... EUR % % AXA SA (MTN) 2014/2049 *... EUR % % Bacardi Ltd 2013/ EUR % % Baggot Securities Ltd -Reg- 2013/ EUR % % Banco Mare Nostrum SA 2014/2029 **... EUR % % Banco Popular Espanol SA 2014/ EUR % % Banco Santander SA 2014/2049 * **... EUR % % Banco Santander Totta SA (MTN) 2014/ EUR % % Bank of America Corp. (MTN) 2010/ EUR % % Bank of America Corp. (MTN) 2013/ EUR % % Bank of America Corp. 2014/ EUR % % Bankia SA (MTN) 2014/2024 * **... EUR % % Barclays Bank Plc (MTN) 2014/ EUR % % Barclays Plc 2013/2049 *... EUR % % Bayer AG 2014/2074 *... EUR % % Bayer AG 2014/2075 *... EUR % % BBVA Senior Finance SAU (MTN) 2011/ EUR % % BBVA Sub Capital Unipers -Reg- 2014/2024 *... EUR % % Belgacom SA (MTN) 2014/ EUR % % Bharti Airtel International Netherlands BV 2013/ EUR % % Bharti Airtel International Netherlands BV -Reg- 2014/ EUR % % BNP Paribas SA (MTN) 2012/ EUR % % BNZ International Funding Ltd 2013/ EUR % % Bord Gais Eireann 2012/ EUR % % BP Capital Markets Plc (MTN) 2014/ EUR % % BPCE SA (MTN) 2014/ EUR % % BPCE SA 2014/2026 *... EUR % % Brambles Finance Ltd 2014/ EUR % % Brambles Finance Plc 2011/2018 **... EUR % % British Telecommunications Plc 2014/ EUR % % Cargill, Inc. (MTN) 2014/ EUR % % Carlsberg Breweries A/S (MTN) 2014/ EUR % % Casino Guichard Perrachon SA (MTN) 2014/2024. EUR % % Cie de St-Gobain (MTN) 2011/ EUR % % Citigroup, Inc. (MTN) 2005/2017 * **... EUR % % Citigroup, Inc. (MTN) 2009/ EUR % % Citigroup, Inc. (MTN) 2013/ EUR % % Citigroup, Inc. (MTN) 2014/ EUR % % CNP Assurances 2010/2040 *... EUR % % Compass Group Plc 2014/ EUR % % Cooperatieve Centrale Raiffeisen-Boerenleenbank BA/Netherlands 2014/2026 *... EUR % % Credit Agricole SA/London (MTN) 2014/ EUR % % Credit Suisse AG/London 2014/ EUR % % CRH Finland Services Oyj 2013/ EUR % % Danske Bank A/S (MTN) 2014/2026 *... EUR % % Delta Lloyd NV 2014/2049 *... EUR % % Deutsche Bank AG 2014/2049 *... EUR % % Diageo Finance Plc (MTN) 2014/ EUR % % Dong Energy A/S 2013/2013 *... EUR % % DVB Bank SE 2013/ EUR % % EADS Finance BV (MTN) 2014/ EUR % % Eandis Cvba 2014/ EUR % % Eileme 2 AB -Reg- 2012/ EUR % % Emirates Telecommunications Corp. 2014/ EUR % % Enel Finance International SA (MTN) 2009/ EUR % % Energa Finance AB (MTN) 2013/ EUR % % Eni SpA (MTN) 2013/ EUR % % Eni Spa 2011/ EUR % % EP Energy AS (MTN) -Reg- 2012/ EUR %

127 DWS Invest Euro Corporate Bonds Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets % EP Energy AS-Reg- 2013/ EUR % % Eutelsat SA 2013/ EUR % % Export-Import Bank of Korea 2007/ EUR % % FCE Bank Plc (MTN) 2013/2016 **... EUR % % FCE Bank Plc 2014/2021 **... EUR % % Gas Natural Capital Markets SA (MTN) 2012/2017. EUR % % Gazprombank OJSC Via GPB Eurobond Finance Plc -Reg- 2014/ EUR % % GDF Suez 2014/2049 *... EUR % % GE Capital European Funding 2012/ EUR % % General Electric Capital Corp. (MTN) 2005/ EUR % % General Mills, Inc. 2013/ EUR % % Glencore Finance Europe SA (MTN) 2013/2020 **. EUR % % Global Switch Holdings l (MTN) 2011/ EUR % % Goldman Sachs Group, Inc. (MTN) 2013/ EUR % % Granite Master Issuer Plc 2005/2054 *... EUR % % Hammerson Plc 2014/ EUR % % Hera SpA 2014/ EUR % % HSBC Holdings Plc 2005/2020 *... EUR % % HT1 Funding GmbH 2006/2049 *... EUR % % Hutchison Whampoa Ltd 2013/2049 *... EUR % % Hydra Dutch Holdings -Reg- 2014/2019 *... EUR % % Iberdrola International BV 2012/ EUR % % Imperial Tobacco Finance Plc (MTN) 2009/ EUR % % Imperial Tobacco Finance Plc (MTN) 2014/ EUR % % ING Bank NV 2013/2023 * **... EUR % % Intesa Sanpaolo SpA (MTN) 2012/ EUR % % Intesa Sanpaolo SpA (MTN) 2014/ EUR % % Intesa Sanpaolo SpA -Reg- 2014/2019 *... EUR % % IPIC GMTN Ltd 2012/ EUR % % JP Morgan Chase & Co. (MTN) 2004/2019 *... EUR % % JPMorgan Chase & Co. (MTN) 2012/ EUR % % KBC Groep NV 2014/2049 *... EUR % % Kering SA 2013/ EUR % % Koninklijke KPN NV (MTN) 2009/ EUR % % Korea Gas Corp. 2013/ EUR % % LBBW (MTN) 2014/2026 *... EUR % % LBG Capital No.2 Plc 2009/ EUR % % Lehman Brothers Holdings 2006/2016 *... EUR % % Leveraged Finance Europe 2004/2018 *... EUR % % Lottomatica SpA 2009/2016 **... EUR % % Madrilena Red de Gas Finance BV (MTN) 2013/ EUR % % Main Capital Funding II LP 2006/ EUR % % Met Life Global Funding I 2007/ EUR % % Microsoft Corp. 2013/ EUR % % Morgan Stanley (MTN) 2014/ EUR % % National Australia Bank 2013/ EUR % % Natixis 2007/2049 * **... EUR % % New York Life Global Funding (MTN) 2007/ EUR % % Pearson Funding Five Plc 2014/ EUR % % PepsiCo, Inc. 2014/ EUR % % Pernod Ricard SA 2014/ EUR % % Petrobras Global Finance BV 2014/ EUR % % Petrol DD Ljubljana 2014/2019 **... EUR % % Petroleos Mexicanos -Reg- 2014/ EUR % % PGE Sweden AB 2014/ EUR % % PKO Finance AB (MTN) 2014/2019 **... EUR % % Play Finance 2 SA -Reg- 2014/ EUR % % Prologis LP 2014/ EUR % % Propart Funding LP 2005/ EUR % % Raiffeisen Bank International AG (MTN) 2013/2018. EUR % % RCI Banque SA (MTN) 2014/ EUR % % Rentokil Initial Plc (MTN) 2013/ EUR % % Repsol International Finance BV (MTN) 2012/2019. EUR % % Royal Bank of Scotland Group Plc 2013/ EUR % % Royal Bank of Scotland Group Plc 2014/ EUR % % Royal Bank of Scotland Plc (MTN) 2012/2022 *... EUR % % Ryanair Ltd 2014/ EUR % % Sabic Capital I BV 2013/ EUR % % Santander International Debt SAU 2012/ EUR % % SGSP Australia Assets Pty Ltd 2014/ EUR % % Skandinaviska Enskilda Banken AB (MTN) 2014/2026 *... EUR % % Société Générale 2010/2049 *... EUR % % Sodexo 2014/ EUR % % SPI Electricity & Gas Australia Holdings Pty Ltd (MTN) 2013/ EUR % % SPP Infrastructure financing BV 2013/ EUR % % SPP-Distribucia AS 2014/ EUR % % Standard Chartered Plc 2014/ EUR % % Suez Environnement Co. 2014/2049 *... EUR % % Svenska Handelsbanken -Reg- 2012/ EUR %

128 DWS Invest Euro Corporate Bonds Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets % Swedbank AB (MTN) 2014/2024 *... EUR % % Syngenta Finance NV (MTN) 2014/ EUR % % Tele Danmark AS (MTN) 2011/ EUR % % Telefonica Emisiones SAU 2012/ EUR % % Telefonica Europe BV 2013/2049 *... EUR % % Teollisuuden Voima Oyj (MTN) 2014/ EUR % % Tesco Corp. Treasury Services 2013/2020 **... EUR % % Tesco Corporate Treasury Services Plc 2014/2019. EUR % % The Goldman Sachs Group, Inc. -Reg- (MTN) 2011/ EUR % % Transurban Finance Co. 2013/ EUR % % TVN Finance Corp III AB -Reg- 2013/ EUR % % UBS AG (MTN) 2014/2026 *... EUR % % UniCredit SpA (MTN) 2014/ EUR % % UniCredit SpA (MTN) -Reg- 2012/2022 **... EUR % % UniCredit SpA -Reg- 2014/2017 *... EUR % % Unione di Banche Italiane SCpA (MTN) 2014/2024. EUR % % Valeo SA (MTN) 2014/ EUR % % Verizon Communications, Inc. (MTN) 2014/ EUR % % Vienna Insurance Group AG Wiener Versicherung Gruppe 2013/2043 *... EUR % % Vivendi SA (MTN) 2011/ EUR % % Volkswagen International Finance NV 2013/2049 *. EUR % % Wal-Mart Stores, Inc. 2014/2026 **... EUR % % Westfield Retail Trust 1 (MTN) 2013/ EUR % % Wolters Kluwer NV 2013/ EUR % % America Movil SAB de CV 2013/2073 *... GBP % % BNP Paribas SA 2007/2049 *... GBP % % BPCE SA -Reg- 2014/ GBP % % ENEL SpA 2014/2076 *... GBP % % Global Switch Holdings Ltd (MTN) 2013/ GBP % % Nationwide Building Society (MTN) 2014/2049 *.. GBP % % Tesco Property Finance 6 Plc 2013/ GBP % % ABN Amro Bank NV (MTN) 2012/2022 *... USD % % Abu Dhabi National Energy 2012/2018 **... USD % % Actavis, Inc. 2012/ USD % % Aquarius & Investment Plc 2013/2024 *... USD % % Aviva Plc 2012/ USD % % BBVA US Senior SAU 2012/ USD % % British Telecommunications Plc 2014/ USD % % Carnival Corporation & Plc 2013/ USD % % Country Garden Holdings Co., Ltd -Reg- 2014/2019 ** USD % % Deutsche Bank AG/London 2014/ USD % % Electricite de France -Reg- 2014/2049 * **... USD % % Electricite de France SA 2013/2049 *... USD % % Gazprom OAO Via Gaz Capital SA -Reg- 2010/2015. USD % % GPN Capital SA 2012/ USD % % Greenland Global Investment Ltd 2014/ USD % % HSBC Holdings Plc 2011/ USD % % International Bank of Azerbaijan OJSC 2014/2019. USD % % Koninklijke KPN NV -Reg- 2013/2073 *... USD % % Nomura Holdings, Inc. (MTN) 2013/ USD % % OAS Finance Ltd -Reg- 2014/ USD % % Société Générale SA (MTN) 2013/2049 * **... USD % % Telefonica Emisiones SAU 2010/ USD % % Telenor ASA 2013/ USD % % UBS AG 2014/ USD % % UniCredit SpA 2014/2049 * **... USD % % Verizon Communications, Inc. 2013/ USD % Securities admitted to or included in organized markets Interest-bearing securities % Lloyds Banking Group Plc 2014/2049 * **... EUR % % Redexis Gas Finance BV 2014/ EUR % % Simon Property Group LP 2013/ EUR % % ABN AMRO Bank NV -Reg- 2013/ USD % % Banco do Brasil SA/Cayman -Reg- 2014/2049 *... USD % % Barclays Bank Plc 2014/ USD % % BNP Paribas SA (MTN) 2013/ USD % % Credit Agricole SA 144A 2013/ USD % % Credit Agricole SA -Reg- 2013/ USD % % Deutsche Bank AG 2014/2049 * **... USD % % GTL Trade Finance, Inc. -Reg- 2014/ USD % % ING Bank NV -Reg- 2013/ USD % % Intesa Sanpaolo SpA 2013/ USD % % JBS INVESTMENTS GmbH 2014/ USD % % Lenovo Group Ltd -Reg- 2014/ USD % % Quest Diagnostics, Inc. 2014/ USD % % Saudi Electricity Global SUKUK Company -Reg- 2014/ USD % % Société Générale SA -Reg- (MTM) 2011/ USD % % Stanley Black & Decker, Inc. 2013/ USD %

129 DWS Invest Euro Corporate Bonds Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Unlisted securities Interest-bearing securities 3.25 % Hera SpA (MTN) 2013/ EUR % % Illinois Tool Works, Inc. (MTN) 2014/ EUR % % International Business Machines Corp. 2013/2020. EUR % % ABN Amro Bank NV -Reg- 2012/ USD % Investment fund units In-group fund units DB Advisors Invest Global Credit (0.400%)... Units EUR Total securities portfolio Derivatives (Minus signs denote short positions) Interest rate derivatives Receivables/payables Interest rate futures Germany Federal Republic Bonds 5 year Futures 09/ EUR (XEUR)... Count Germany Federal Republic Notes 2 year Futures 09/ EUR (XEUR)... Count UK Treasury Notes Futures 09/ GBP (XLIF). Count US Treasury Notes 10 year Futures 09/ USD (CBT)... Count US Treasury Notes 30 year Futures 09/ USD (CBT)... Count US Treasury Notes 5 year Futures 09/ USD (CBT)... Count Currency derivatives Receivables/payables Currency futures (short) Open positions EUR/GBP 18.9 million EUR/USD 127 million Closed positions EUR/USD 6.9 million Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in other EU/EEA currencies British pound... GBP Deposits in non-eu/eea currencies Japanese yen... JPY Swiss franc... CHF U.S. dollar... USD Other assets Interest receivable Other receivables Receivables from share certificate transactions Total assets *** Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 127

130 DWS Invest Euro Corporate Bonds 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 FC... EUR Class LC... EUR Class LD... EUR Class NC.... EUR Class PFC... EUR Class PFDQ.... EUR Number of shares outstanding Class FC... Count Class LC... Count Class LD... Count Class NC.... Count Class PFC... Count Class PFDQ.... Count Composition of the reference portfolio (according to CSSF circular 11/512) iboxx EUR Corporates in EUR Constituents 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 June 30, 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 derivatives 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 as of the reporting date. Market abbreviations Futures exchanges CBT = Chicago Board of Trade XEUR = Eurex XLIF = NYSE Liffe London Contracting party for currency futures Deutsche Bank AG Frankfurt 128

131 DWS Invest Euro Corporate Bonds Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual 1.00 % ING Bank NV 2013/2023 * EUR % Citigroup, Inc. (MTN) 2005/2017 * EUR % FCE Bank Plc (MTN) 2013/2016 EUR % FCE Bank Plc 2014/2021 EUR % Tesco Corp. Treasury Services 2013/2020 EUR % PKO Finance AB (MTN) 2014/2019 EUR % Wal-Mart Stores, Inc. 2014/2026 EUR % Banco Mare Nostrum SA 2014/2029 EUR % Petrol DD Ljubljana 2014/2019 EUR % Glencore Finance Europe SA (MTN) 2013/2020 EUR % Bankia SA (MTN) 2014/2024 * EUR % Brambles Finance Plc 2011/2018 EUR % Lottomatica SpA 2009/2016 EUR % Achmea BV (MTN) 2013/2043 * EUR % Banco Santander SA 2014/2049 * EUR % Natixis 2007/2049 * EUR % Lloyds Banking Group Plc 2014/2049 * EUR % UniCredit SpA (MTN) -Reg- 2012/2022 EUR % Abu Dhabi National Energy 2012/2018 USD % Electricite de France -Reg- 2014/2049 * USD % Deutsche Bank AG 2014/2049 * USD % Country Garden Holdings Co., Ltd -Reg- 2014/2019 USD % UniCredit SpA 2014/2049 * USD % Société Générale SA (MTN) 2013/2049 * USD Total receivables from securities loans Contracting parties for securities loans Barclays Capital Securities Limited, Citigroup Global Markets, Credit Suisse Securities (Europe) Ltd. FI, Deutsche Bank AG FI, J.P. Morgan Securities Plc (Fixed Income), Morgan Stanley Intl. FI and UniCredit Bank AG. Total collateral pledged by third parties for securities loans EUR including: Equities EUR Other EUR Exchange rates (indirect quotes) As of June 30, 2014 Swiss franc... CHF = EUR 1 British pound... GBP = EUR 1 Japanese yen... JPY = EUR 1 U.S. dollar... USD = EUR 1 Notes on 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. Assets reported in this report are not 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 investment fund held units of other investment funds (target funds) in the reporting period, 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 *) Floating interest rate. **) Some or all of these securities are lent. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 129

132 DWS Invest Euro Corporate Bonds 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/ units/ currency Purchases/ additions Sales/ disposals Description Count/ units/ currency Purchases/ additions Sales/ disposals Securities traded on an exchange Interest-bearing securities 4.00 % Aegon NV -Reg- 2014/2044 *... EUR % Agrokor D.D. -Reg- 2012/ EUR % AIB Mortgage Bank (MTN) 2010/ EUR % Allianz SE 2013/2049 *... EUR % Altice SA -Reg- 2014/ EUR % America Movil SAB de CV 2013/2073 * EUR % Aon Plc 2014/ EUR % Atlanta SpA 2012/ EUR % Atlantia SpA (MTN) 2009/ EUR % Australia Pacific Airports Melbourne Pty Ltd (MTN) 2013/ EUR % Aviva Plc (MTN) 2008/2038 *... EUR % Aviva Plc (MTN) 2013/2043 *... EUR % Banca Monte dei Paschi di Siena SpA (MTN) 2014/ EUR % Banco Comercial Portugues SA (MTN) 2014/ EUR % Bank of Ireland 2013/ EUR % Bank of Ireland 2014/ EUR % Banque Federative du Credit Mutuel 2013/ EUR % Banque Federative du Credit Mutuel SA (MTN) 2013/ EUR % Banque Federative du Credit Mutuel SA (MTN) 2014/ EUR % Bayer AG (MTN) 2014/ EUR % BBVA Senior Finance SAU (MTN) 2010/ EUR % BHP Billiton Finance Ltd -Reg- 2013/ EUR % BNP Paribas SA (MTN) 2014/2026 *. EUR % BPCE SA (MTN) 2010/ EUR % BPCE SA 2006/2049 *... EUR % BPCE SA 2013/ EUR % Caja Ahorros Barcelona 2014/ EUR % Carrefour SA 2013/ EUR % Casino Guichard Perrachon SA (MTN) 2012/ EUR % Constellium NV 2014/ EUR % Credit Agricole SA 2013/ EUR % Credit Agricole SA -Reg- 2014/2049 * EUR % CRH Finance Ltd 2013/ EUR % Danske Bank A/S (MTN) 2012/2017. EUR % Danske Bank A/S 2013/2023 *... EUR % Deutsche Bank Capital Funding Trust IV 2003/ EUR % DZ Bank AG Deutsche Zentral- Genossenschaftsbank (MTN) 2009/2014 EUR % Electricite de France (MTN) 2014/2049 * EUR % Elia System Operator SA (MTN) 2013/ EUR % Enel Finance International NV 2012/ EUR % Enel SpA 2013/2074 *... EUR % ENEL SpA 2014/2075 *... EUR % Erste Group Bank AG 2012/ EUR % ESB Finance Ltd 2012/ EUR % Fiat Finance & Trade SA (MTN) 2013/ EUR % Gas Natural Fenosa Finance BV (MTN) 2014/ EUR % Gas Natural Fenosa Finance BV 2013/ EUR % GDF Suez 2013/2049 *... EUR % Grupo Antolin Dutch BV -Reg- 2014/ EUR % HSBC Holdings Plc 2013/2024 *... EUR % Hutchison Whampoa International Ltd 2012/ EUR % ING Bank NV (MTN) 2014/2026 *... EUR % ING Groep NV (MTN) 2005/2049 *.. EUR % Intesa Sanpaolo SpA (MTN) 2011/ EUR % Intesa Sanpaolo SpA (MTN) 2013/ EUR % Kellogg Co. (MTN) 2014/ EUR % Kering SA (MTN) 2013/ EUR % Kerneos Tech Group SAS -Reg- 2014/ EUR % LBG Capital No.1 Plc 2009/ EUR % Lloyds Bank Plc 2013/ EUR % Lottomatica SpA 2012/ EUR % Luxottica Group SpA (MTN) 2014/ EUR % Mondelez International, Inc. 2013/ EUR % Nationwide Building Society (MTN) 2013/2023 *... EUR % NN Group NV -Reg- 2014/2044 *... EUR % Numericable Group SA -Reg- 2014/ EUR % Nykredit Realkredit A/S (MTN) 2010/ EUR % Obrascon Huarte Lain SA 2014/ EUR % Oracle Corp. (MTN) 2013/ EUR % Orange SA (MTN) 2013/ EUR % Orange SA 2014/2049 *... EUR % Peugeot SA (MTN) 2013/ EUR % Philip Morris International, Inc. 2014/ EUR % Raiffeisen Bank International AG 2013/ EUR % Raiffeisen Bank International AG 2014/2025 *... EUR % RCI Banque SA 2012/ EUR % Russian Railways via RZD Capital Plc 2013/ EUR % Santander Consumer Finance SA 2006/ EUR % Santander International Debt SAU (MTN) 2013/ EUR % Santander Issuances SAU 2004/2019 *... EUR % SANTOS Finance Ltd (MTN) 2010/2070 *... EUR % Skandinaviska Enskilda Banken 2012/ EUR % SKF AB 2013/ EUR % Slovenia Government Bond 2010/ EUR % Snam SpA (MTN) 2013/ EUR % Snam SpA (MTN) 2014/ EUR % Snam SpA 2012/ EUR % SNAM SpA -Reg- 2014/ EUR % Societa Iniziative Autostradali e Servizi SpA (MTN) 2014/ EUR % Societe Des Autoroutes Paris- Rhin-Rhone (MTN) 2014/ EUR % Solvay Finance SA 2013/2049 *... EUR % SSE Plc (MTN) 2013/ EUR % Standard Chartered Plc 2012/ EUR % Telecom Italia SpA (MTN) 2011/2016. EUR % Telecom Italia SpA (MTN) 2014/2021. EUR % Telefonica Emisiones SAU (MTN) 2014/ EUR % Telefonica Emisiones SAU 2012/ EUR % Teollisuuden Voima Oyj (MTN) 2009/ EUR % Turkiye Vakiflar Bankasi Tao 2014/ EUR % UniCredit Bank Austria AG (MTN) 2014/ EUR % UniCredit SpA (MTN) 2013/2025 *.. EUR % UniCredit SpA 2012/ EUR % Unione di Banche Italiane SCpA (MTN) 2014/ EUR % Valeo SA (MTN) 2012/ EUR % Verizon Communications, Inc. (MTN) 2014/ EUR

133 DWS Invest Euro Corporate Bonds Description Count/ units/ currency Purchases/ additions Sales/ disposals % Viridian Group FundCo II -Reg- 2012/ EUR % Vivendi SA (MTN) 2012/ EUR % Vivendi SA (MTN) 2013/ EUR % Volkswagen International Finance NV 2013/2049 *... EUR % Volkswagen International Finance NV -Reg- 2014/2049 *... EUR % Voto-Votorantim Ltd -Reg- 2010/2017 EUR % Yorkshire Building Society (MTN) 2014/ EUR % Ziggo BV (MTN) -Reg- 2013/ EUR % Electricite de France (MTN) 2014/2049 *... GBP % Electricite de France (MTN) 2014/ GBP % Nordea Bank AB 2012/ GBP % Orange SA 2014/2049 *... GBP % Verizon Communications, Inc. (MTN) 2014/ GBP % Banco Santander SA -Reg- 2014/2049 * USD % Credit Agricole SA -Reg- 2014/2049 * USD % Credit Suisse AG 2013/ USD % DNB Bank Asa -Reg- 2012/ USD % Enel SpA 144A 2013/2073 *... USD % France Telecom SA 2009/ USD % HSBC Holdings Plc 2014/ USD % IPIC GMTN Ltd 2012/ USD % KBC Bank NV 2013/2023 *... USD % RH International (Singapore) Corporation Pte. Ltd -Reg- 2014/ USD % Rowan Cos, Inc. 2014/ USD % Turkiye Halk Bankasi AS -Reg- 2014/ USD % Verizon Communications, Inc. 2013/ USD 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 (Underlyings: EURO BUND, UK Long Gilt, US Treasury Note 10-Year, US Treasury Note 30-Year, US Treasury Note 5-Year) EUR Contracts sold (Underlying: MSCI Taiwan) EUR 266 Currency futures (short) Futures contracts to sell currencies EUR/GBP EUR EUR/USD EUR Currency futures (long) Futures contracts to purchase currencies GBP/EUR EUR USD/EUR EUR Securities admitted to or included in organized markets Interest-bearing securities 5.00 % Deutsche Bank AG (MTN) 2010/2020 EUR % ING Bank NV -Reg- 2012/ USD % Morgan Stanley 2014/ USD % Turkiye Garanti Bank AS -Reg- 2014/ USD

134 DWS Invest Euro High Yield Corporates Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Ontex Group NV.... Count EUR Interest-bearing securities % Aguila 3 SA -Reg- 2011/ CHF % % Matterhorn Mobile SA 2012/2019 *.... CHF % % Matterhorn Mobile SA -Reg- 2012/ CHF % % Selecta Group BV -Reg- 2014/ CHF % % Sunrise Communications International SA (MTN) -Reg- 2012/ CHF % % UPC Holding BV (MTN) -Reg- 2013/2023 **... CHF % % 3AB Optique DV -Reg- 2014/2019 **.... EUR % % Adria Bidco BV 2013/ EUR % % AG Spring Finance II Ltd -Reg- 2013/2019 **.... EUR % % Agrokor D.D. -Reg- 2012/ EUR % % Agrokor DD 2012/ EUR % % Alba Group Plc & Co. KG -Reg- 2011/ EUR % % Aldesa Financial Services SA -Reg- (MTN) 2014/ EUR % % Almirall SA -Reg- 2014/ EUR % % Altice Financing SA -Reg- 2013/ EUR % % Altice Finco SA 2013/ EUR % % Altice SA -Reg- 2014/ EUR % % Ardagh Packaging Finance Plc -Reg- 2010/ EUR % % Ardagh Packaging Finance Plc -Reg- 2012/ EUR % % Astaldi SpA -Reg- 2013/ EUR % % Autodis SA (MTN) 2014/2019 **... EUR % % Avis Budget Finance Plc -Reg- 2013/2021 **.... EUR % % Bank of Ireland 2014/2024 *.... EUR % % Bayer AG 2014/2074 *.... EUR % % Bayerische Landesbank 2007/ EUR % % Behr GmbH KG 2009/2049 *... EUR % % Belden, Inc. (MTN) -Reg- 2013/ EUR % % Bombardier, Inc. (MTN) 2010/2021 **.... EUR % % Bormioli Rocco Holdings SA -Reg- 2011/ EUR % % BUT SAS -Reg- 2014/ EUR % % Cable Communications Systems NV -Reg- 2013/ EUR % % Carlson Wagonlit BV -Reg- 2012/ EUR % % Cegedim SA -Reg- 2013/ EUR % % Cerba European Lab -Reg- 2013/ EUR % % Cerved Technologies SpA (MTN) -Reg- 2013/2020. EUR % % Chesapeake Energy Corp. 2006/ EUR % % Ciech Group Financing AB 2012/ EUR % % Cirsa Funding Luxembourg SA -Reg- 2010/ EUR % % CMA CGM SA -Reg- 2013/ EUR % % ConvaTec Healthcare E SA -Reg- 2010/ EUR % % Crown European Holdings SA -Reg- 2010/ EUR % % Crown European Holdings SA -Reg- 2014/ EUR % % Delta Lloyd NV 2014/2049 *.... EUR % % Deutsche Bank AG 2014/2049 *.... EUR % % Deutsche Postbank Funding Trust IV 2007/2049 *. EUR % % Dry Mix Solutions Investissements SAS -Reg- 2014/2021 * **.... EUR % % eaccess Ltd -Reg- 2011/ EUR % % EC Finance Plc -Reg- 2010/ EUR % % Eileme 2 AB -Reg- 2012/ EUR % % Eircom Finance Ltd 2013/ EUR % % Empark Funding SA -Reg- 2013/ EUR % % Ence Energia y Celulosa S.A -Reg- 2013/2020 **.. EUR % % Eurofins Scientific (MTN) 2013/2049 *.... EUR % % Europcar Groupe SA -Reg- 2010/ EUR % % Falcon Germany Holding 3 GmbH -Reg- 2013/2020 **... EUR % % Faurecia (MTN) 2012/ EUR % % Fiat Finance & Trade SA (MTN) 2009/2015 **.... EUR % % Fiat Finance & Trade SA (MTN) 2012/ EUR % % Fiat Finance & Trade SA (MTN) 2013/ EUR % % Fiat Industrial Finance Europe SA (MTN) 2011/ EUR % % Financiere Gaillon 8 SAS -Reg- (MTN) 2014/ EUR % % Findus Bondco SA -Reg- 2013/2018 **... EUR % % FMC Finance VII SA -Reg- 2011/ EUR % % Fresenius Finance BV -Reg- 2014/2024 **.... EUR % % Frigoglass Finance BV 2013/2018 **.... EUR % % Galapagos SA -Reg- 2014/ EUR % % Galapagos SA -Reg- 2014/2021 *.... EUR % % Gamenet SpA -Reg- 2013/2018 **.... EUR % % Gategroup Finance Luxembourg SA (MTN) -Reg- 2012/2019 **.... EUR % % GCL Holdings SCA -Reg- 2011/ EUR %

135 DWS Invest Euro High Yield Corporates Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets 6.50 % GCS Holdco Finance I SA 2013/2018 **... EUR % % Geo Debt Finance SCA -Reg- 2013/ EUR % % Geo Travel Finance 2011/ EUR % % Gestamp Funding Luxembourg SA -Reg- 2013/2020 EUR % % Goodyear Dunlop Tires Europe BV -Reg- 2011/2019 EUR % % Greif Nevada Holdings, Inc. SCS -Reg- (MTN) 2011/ EUR % % Grupo Antolin Dutch BV -Reg- 2014/ EUR % % Guala Closures SpA 2012/2019 *... EUR % % Heckler and Koch GmbH -Reg- 2011/ EUR % % HeidelbergCement Finance BV (MTN) 2011/2018. EUR % % HeidelbergCement Finance BV 2010/ EUR % % Heidelberger Druckmaschinen AG -Reg- 2011/2018. EUR % % Hema Bondco I BV -Reg- 2014/2019 **... EUR % % Holding Medi-Partenaires SAS -Reg- 2013/ EUR % % HT1 Funding GmbH 2006/2049 *... EUR % % Huntsman International LLC 2014/2021 **... EUR % % Huntsman International LLC -Reg- 2014/ EUR % % Hydra Dutch Holdings -Reg- 2014/2019 *... EUR % % Infor US, Inc. 2012/ EUR % % InterXion Holding NV 2013/ EUR % % Intralot Capital Lux 2014/ EUR % % Intralot Finance Luxembourg SA 2013/ EUR % % IVS Group SA -Reg- 2013/2020 **... EUR % % Kerneos Tech Group SAS -Reg- 2014/ EUR % % Kinove German Bondco Gmbh 2011/ EUR % % KION Finance SA (MTN) -Reg- 2013/ EUR % % Lafarge SA (MTN) 2009/2019 **... EUR % % Lafarge SA (MTN) 2013/ EUR % % Lecta SA -Reg- (MTN) 2012/2019 **... EUR % % Lottomatica SpA -Reg- 2006/2066 *... EUR % % Magnolia BC SA (MTN) -Reg- 2013/2020 **... EUR % % Main Capital Funding II LP 2006/2049 **... EUR % % Main Capital Funding LP 2005/2049 **... EUR % % Manutencoop Facility Management SpA 2013/2020 **... EUR % % Marcolin SpA 2013/ EUR % % Matterhorn Financing & CY SCA -Reg- 2013/2019. EUR % % Mondi Consumer Packaging International AG -Reg- 2010/ EUR % % Monitchem HoldCo 3 SA -Reg- 2014/ EUR % % Monitchem HoldCo 3 SA -Reg- 2014/2021 *... EUR % % MPT Operating Partnership LP (MTN) 2013/2020 ** EUR % % Nara Cable Funding Ltd -Reg- 2010/ EUR % % NH Hoteles SA -Reg- 2013/2019 **... EUR % % Nokia Oyj (MTN) 2009/ EUR % % Novacap International SAS -Reg- (MTN) 2014/2019 *... EUR % % Novafives SAS -Reg- 2014/ EUR % % Numericable Group SA -Reg- 2014/ EUR % % Numericable Group SA -Reg- 2014/ EUR % % Obrascon Huarte Lain SA (MTN) 2012/ EUR % % Obrascon Huarte Lain SA 2014/2022 **... EUR % % OI European Group BV -Reg- 2009/ EUR % % Origin Energy Finance Ltd (MTN) 2011/2071 *... EUR % % Ovako AB -Reg- (MTN) 2014/ EUR % % Paroc Group Oy -Reg- (MTN) 2014/2020 * **... EUR % % Paroc Group Oy -Reg- 2014/2020 **... EUR % % Perstorp Holding AB 2012/2017 **... EUR % % Peugeot SA (MTN) 2013/ EUR % % Peugeot SA (MTN) 2013/ EUR % % Pfleiderer GmbH -Reg- (MTN) 2014/ EUR % % Piaggio & C. SpA -Reg- 2014/2021 **... EUR % % Play Finance 2 SA -Reg- 2014/ EUR % % Rain Cii Carbon LLC 2012/ EUR % % Rexel SA 2011/ EUR % % Rexel SA -Reg- 2013/ EUR % % RPG Byty Sro -Reg- 2013/2020 **... EUR % % Safari Holding Verwaltungs GmbH -Reg- 2014/ EUR % % SANTOS Finance Ltd (MTN) 2010/2070 *... EUR % % Sappi Papier Holding AG -Reg- 2011/2018 **... EUR % % SB Minerals Finance -Reg- 2013/2020 **... EUR % % Schaeffler Holding Finance BV -Reg- 2013/ EUR % % Schmolz + Bickenbach Luxembourg SA -Reg- 2012/ EUR % % Seat Pagine Gialle SpA -Reg- 2010/ EUR % % SERVUS Luxembourg Holding SCA 2013/ EUR % % SGD Group -Reg- 2014/ EUR % % SGL Carbon SE 2013/ EUR % % Smurfit Kappa Acquisitions -Reg- 2012/2018 **... EUR % % Société Générale 2010/2049 *... EUR % % Solvay Finance SA 2013/2049 *... EUR %

136 DWS Invest Euro High Yield Corporates Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets 5.50 % SPCM SA -Reg- 2012/ EUR % % Spie Bondco 3 SCA (MTN) -Reg- 2012/ EUR % % Stork Technical Services 2012/ EUR % % Stork Technical Services Holdings BV -Reg- 2012/ EUR % % Styrolution Group GmbH -Reg- 2011/ EUR % % Sunrise Communications International SA (MTN) 2010/ EUR % % Takko Luxembourg 2 SCA (MTN) -Reg- 2013/2019 **... EUR % % Techem Energy Metering Service GmbH & Co.,KG 2012/ EUR % % Telecom Italia SpA (MTN) 2014/ EUR % % Telefonica Europe BV 2013/2049 *... EUR % % Telefonica Europe BV 2014/2049 *... EUR % % Telenet Finance III Luxembourg SCA -Reg- 2011/2021 **... EUR % % Telenet Finance V Luxembourg SCA -Reg- 2012/ EUR % % Thomas Cook Group Plc 2013/ EUR % % TMF Group Holding BV 2012/ EUR % % TNI Luxco 1 SA 2014/ EUR % % Trionista HoldCo GmbH 2013/ EUR % % Trionista TopCo GmbH 2013/ EUR % % TVN Finance Corp III AB -Reg- 2013/ EUR % % Unitymedia Hessen GmbH & Co KG / Unitymedia NRW GmbH -Reg- 2012/ EUR % % Unitymedia Hessen GmbH & Co KG -Reg- 2012/ EUR % % Unitymedia Hessen GmbH & Co. / Unitymedia NRW GmbH -Reg- 2013/ EUR % % Unitymedia Hessen GmbH & Co., KG -Reg- 2012/ EUR % % Unitymedia NRW GmbH 2013/ EUR % % UPC Holding BV -Reg- 2013/ EUR % % UPCB Finance Ltd -Reg- 2010/ EUR % % Viridian Group FundCo II -Reg- 2012/ EUR % % Vivacom 2013/ EUR % % WEPA Hygieneprodukte GmbH -Reg- 2013/ EUR % % Wind Acquisition Finance SA -Reg- 2010/2018 **. EUR % % Wind Acquisition Finance SA -Reg- 2014/2020 *.. EUR % % Wind Acquisition Finance SA -Reg- 2014/ EUR % % Wind Acquisition Holdings Finance SA -Reg- 2009/ EUR % % WMG Acquisition Corp. -Reg- 2012/ EUR % % Xella HoldCo Finance SA 2013/ EUR % % Ziggo Bond Co BV -Reg- 2014/ EUR % % Zinc Capital SA (MTN) 2011/ EUR % % Zobele Holding SpA -Reg- 2013/ EUR % % AA Bond Co., Ltd 2013/ GBP % % Arqiva Broadcast Finance Plc (MTN) -Reg- 2013/ GBP % % BIBBY Offshore Services Plc -Reg- 2014/ GBP % % CPUK Finance Ltd (MTN) 2012/ GBP % % Elli Finance UK Plc -Reg- 2012/ GBP % % ENEL SpA 2014/2076 *... GBP % % Equiniti Newco 2 Plc 2013/ GBP % % Findus Bondco SA -Reg- 2013/ GBP % % GHD Bondco Plc -Reg- 2014/ GBP % % Hastings Insurance Group Finance Plc 2013/2020. GBP % % HSS Financing Plc -Reg- 2014/ GBP % % Infinis Plc -Reg- 2013/ GBP % % Johnston Press Bond Plc -Reg- 2014/2019 **... GBP % % Koninklijke KPN NV (MTN) 2013/2073 *... GBP % % Mizzen Bondco 2014/ GBP % % Pendragon Plc 2013/ GBP % % Phosphorus Holdco Plc -Reg- 2013/2019 **... GBP % % Premier Foods Finance Plc -Reg- 2014/2020 *... GBP % % Priory Group Ltd -Reg- 2011/ GBP % % Stonegate Pub Company Financing Plc 2014/2019 * GBP % % Telecom Italia SpA (MTN) 2004/ GBP % % Telecom Italia SpA (MTN) 2006/ GBP % % Virgin Media Finance Plc 2009/ GBP % % Virgin Media Secured Finance Plc 2011/ GBP % % Voyage Care Bondco Plc -Reg- 2013/ GBP % % New Look Bondco I Plc 144A 2013/ USD % % Novasep Holding SAS -Reg- 2012/ USD % % Sable International Finance Ltd -Reg- 2012/ USD % Securities admitted to or included in organized markets

137 DWS Invest Euro High Yield Corporates Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Interest-bearing securities % B Communications Ltd 144A 2014/ USD % % BMC Software Finance, Inc. 144A 2013/ USD % % FAGE USA Dairy Industry, Inc. 144A 2010/2020 **. USD % % Rexel SA 144A 2012/ USD % % Travelport Holdings, Inc. 144A 2013/2016 *... USD % Unlisted securities Equities Avery Weigh Tronix... Count USD Interest-bearing securities % Cammell Laird Holdings Plc -Reg- 2000/ EUR % % Gates Global LLC / Gates Global Co. -Reg- 2014/ EUR % % Medya Holding International Ltd 1996/ USD % Total securities portfolio Derivatives (Minus signs denote short positions) Currency derivatives Receivables/payables Currency futures (short) Open positions EUR/CHF 23.8 million EUR/GBP 29.8 million Currency futures (long) Open positions CHF/EUR 0.7 million USD/EUR 0.7 million Swaps Receivables/payables Credit default swaps Protection buyer ITRAXX Europe / 5% 20/06/2019 (OTC) (DB)... Count Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in other EU/EEA currencies British pound... GBP Deposits in non-eu/eea currencies U.S. dollar.... USD Other assets Interest receivable Other receivables Receivables from share certificate transactions Total assets *** Short-term liabilities Loans in non-eu/eea currencies Swiss franc... CHF Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 135

138 DWS Invest Euro High Yield Corporates 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 FC... EUR Class FD... EUR Class LC... EUR Class LD... EUR Class NC.... EUR Class ND.... EUR Class PFC... EUR Class PFDQ.... EUR Number of shares outstanding Class FC... Count Class FD... Count Class LC... Count Class LD... Count Class NC.... Count Class ND.... Count Class PFC... Count Class PFDQ.... Count Composition of the reference portfolio (according to CSSF circular 11/512) ML Euro BB-B Non-Financial Fixed & Floating Rate HY Constrained Constituents 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 June 30, 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 derivatives 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 as of the reporting date. Market abbreviations Contracting party for derivatives (with the exception of currency futures) DB = Deutsche Bank AG Contracting party for currency futures Deutsche Bank AG Frankfurt and UBS AG London Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual 6.75 % UPC Holding BV (MTN) -Reg- 2013/2023 CHF % 3AB Optique DV -Reg- 2014/2019 EUR % AG Spring Finance II Ltd -Reg- 2013/2019 EUR % Autodis SA (MTN) 2014/2019 EUR % Avis Budget Finance Plc -Reg- 2013/2021 EUR % Bombardier, Inc. (MTN) 2010/2021 EUR % Dry Mix Solutions Investissements SAS -Reg- 2014/2021 * EUR % Ence Energia y Celulosa S.A -Reg- 2013/2020 EUR % Falcon Germany Holding 3 GmbH -Reg- 2013/2020 EUR % Fiat Finance & Trade SA (MTN) 2009/2015 EUR % Findus Bondco SA -Reg- 2013/2018 EUR % Fresenius Finance BV -Reg- 2014/2024 EUR % Frigoglass Finance BV 2013/2018 EUR % Gamenet SpA -Reg- 2013/2018 EUR % Gategroup Finance Luxembourg SA (MTN) -Reg- 2012/2019 EUR % GCS Holdco Finance I SA 2013/2018 EUR % Hema Bondco I BV -Reg- 2014/2019 EUR % Huntsman International LLC 2014/2021 EUR % IVS Group SA -Reg- 2013/2020 EUR % Lafarge SA (MTN) 2009/2019 EUR % Lecta SA -Reg- (MTN) 2012/2019 EUR % Magnolia BC SA (MTN) -Reg- 2013/2020 EUR % Main Capital Funding II LP 2006/2049 EUR

139 DWS Invest Euro High Yield Corporates Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual 5.50 % Main Capital Funding LP 2005/2049 EUR % Manutencoop Facility Management SpA 2013/2020 EUR % MPT Operating Partnership LP (MTN) 2013/2020 EUR % NH Hoteles SA -Reg- 2013/2019 EUR % Obrascon Huarte Lain SA 2014/2022 EUR % Paroc Group Oy -Reg- (MTN) 2014/2020 * EUR % Paroc Group Oy -Reg- 2014/2020 EUR % Perstorp Holding AB 2012/2017 EUR % Piaggio & C. SpA -Reg- 2014/2021 EUR % RPG Byty Sro -Reg- 2013/2020 EUR % Sappi Papier Holding AG -Reg- 2011/2018 EUR % SB Minerals Finance -Reg- 2013/2020 EUR % Smurfit Kappa Acquisitions -Reg- 2012/2018 EUR % Takko Luxembourg 2 SCA (MTN) -Reg- 2013/2019 EUR % Telenet Finance III Luxembourg SCA -Reg- 2011/2021 EUR % Wind Acquisition Finance SA -Reg- 2010/2018 EUR % Johnston Press Bond Plc -Reg- 2014/2019 GBP % Phosphorus Holdco Plc -Reg- 2013/2019 GBP % FAGE USA Dairy Industry, Inc. 144A 2010/2020 USD Total receivables from securities loans Contracting parties for securities loans Barclays Capital Securities Limited, Credit Suisse Securities (Europe) Ltd. FI, Deutsche Bank AG FI, Goldman Sachs Int., Morgan Stanley Intl. FI, Société Générale FI and UBS AG London Branch. Total collateral pledged by third parties for securities loans EUR including: Equities EUR Other EUR Exchange rates (indirect quotes) As of June 30, 2014 British pound... GBP = EUR 1 Swiss franc... CHF = EUR 1 U.S. dollar... USD = EUR 1 Notes on 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. Assets stated in this report are valued to a small extent at derived market values. Footnotes *) Floating interest rate. **) Some or all of these securities are lent. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 137

140 DWS Invest Euro High Yield Corporates 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/ units/ currency Purchases/ additions Sales/ disposals Description Count/ units/ currency Purchases/ additions Sales/ disposals Securities traded on an exchange Interest-bearing securities 7.00 % Sunrise Communications International SA (MTN) 2010/ CHF % Aareal Bank AG 2014/2026 *... EUR % AG Spring Finance Ltd -Reg- 2013/ EUR % Agrokor (MTN) 2009/ EUR % Altice Financing SA 2012/ EUR % BBVA Sub Capital Unipers -Reg- 2014/2024 *... EUR % Central European Media Enterprises Ltd -Reg- 2009/ EUR % Cirsa Funding Luxembourg SA 2014/ EUR % CMA CGM SA -Reg- 2011/ EUR % Constellium NV 2014/ EUR % Continental AG (MTN) 2013/ EUR % Cyfrowy Polsat Finance AB -Reg- 2011/ EUR % Deutsche Raststaetten Gruppe IV GmbH -Reg- 2013/ EUR % EDP Finance BV 2012/ EUR % Electricite de France (MTN) 2014/2049 *... EUR % Electricite de France SA (MTN) 2013/2049 *... EUR % Financiere Medicis Lux 2014/ EUR % Financière Quick SAS -Reg- 2014/2019 *... EUR % Finmeccanica Finance SA (MTN) 2013/ EUR % FMC Finance VIII SA 2011/ EUR % Foodcorp Ltd -Reg- 2011/ EUR % Fresenius US Finance II, Inc. -Reg- 2009/ EUR % GMAC International Finance BV 2010/ EUR % Hapag-Lloyd AG (MTN) -Reg- 2013/ EUR % HeidelbergCement Finance BV 2009/ EUR % Heidelberger Druckmaschinen AG 2013/ EUR % HellermannTyton Finance Plc 2012/ EUR % Huntsman International LLC 2013/ EUR % Ineos Group Holdings Plc -Reg- 2006/ EUR % International Personal Finance Plc (MTN) 2010/ EUR % ISS Holdings AS -Reg- 2006/ EUR % Kabel Deutschland Holding AG 2012/ EUR % Kabel Deutschland V&S 2011/2018. EUR % Kion Finance SA (MTN) 2011/ EUR % Koninklijke KPN NV 2013/2049 *... EUR % New Look Bondco I Plc 2013/2018 *. EUR % New World Resources NV -Reg- 2010/ EUR % New World Resources NV -Reg- 2013/ EUR % Numericable Finance & Co. -Reg- 2012/ EUR % Oberthur Technologies 2013/ EUR % OTE Plc (MTN) 2008/ EUR % OTE Plc (MTN) 2011/ EUR % Peermont Global Pty Ltd -Reg- 2007/ EUR % PERI GmbH (MTN) 2010/ EUR % Petrobras Global Finance BV 2014/ EUR % Piaggio & C SpA 2009/ EUR % Play Finance 1 SA 2014/ EUR % Portugal Telecom International Finance BV (MTN) 2013/ EUR % R&R Ice Cream Plc -Reg- 2010/2017. EUR % Schaeffler Finance BV -Reg- 2012/ EUR % Stampos BV 2013/2019 *... EUR % Techem GmbH 2012/ EUR % Telecom Italia SpA 2013/2073 *... EUR % Telecom Italia SpA (MTN) 2004/2019. EUR % Telefonica Emisiones SAU 2012/2017 EUR % Telefonica Emisiones SAU 2012/2020 EUR % Tereos Finance Group I 2013/ EUR % Unitymedia GmbH -Reg- 2009/2019. EUR % Wienerberger AG 2007/2049 *... EUR % Wind Acquisition Finance SA -Reg- 2009/ EUR % Wind Acquisition Finance SA -Reg- 2009/ EUR % Xefin Lux SCA (MTN) 2011/ EUR % Ziggo Bond Co. BV -Reg- 2010/2018. EUR % Ziggo Finance BV -Reg- 2010/ EUR % Bond Mission Critical Services PLC -Reg- 2013/2019 *... GBP % Brakes Capital Group 2013/ GBP % Brighthouse Group Ltd -Reg- 2013/ GBP % Care UK Health & Social Care Plc -Reg- 2010/ GBP % Dubai Holding Commercial Operations Ltd (MTN) 2007/ GBP % EDP Finance BV (MTN) 2008/ GBP % FCE Bank Plc (MTN) 2010/ GBP % FCE Bank Plc (MTN) 2012/ GBP % Finmeccanica Finance SA (MTN) 2009/ GBP % Matalan Finance Ltd -Reg- 2010/ GBP % Phones4U Finance Plc -Reg- 2011/ GBP % Virgin Media Secured Finance Plc 2010/ GBP % B Communications Ltd 144A 2014/ USD % Credit Agricole SA -Reg- 2014/2049 *... USD Securities admitted to or included in organized markets Interest-bearing securities 4.00 % Metsa Board Oyj 2014/ EUR Unlisted securities Interest-bearing securities % Boats Investments The Netherlands BV (MTN) 2007/2017 EUR

141 DWS Invest Euro High Yield Corporates Derivatives (option premiums realized in opening transactions, or total options transactions; in the case of warrants, purchases and sales are shown) Warrants Warrants on securities Additions Disposals Equity warrants Belvedere SA 21/01/ Count Futures contracts Value ( 000) Currency futures (short) Futures contracts to sell currencies EUR/CHF EUR EUR/GBP EUR EUR/USD EUR Currency futures (long) Futures contracts to purchase currencies CHF/EUR EUR 56 GBP/EUR EUR USD/EUR EUR 849 Swaps Credit default swaps Protection buyer (Underlying: ITRAXX Europe) EUR

142 DWS Invest Euro-Gov Bonds Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Interest-bearing securities 3.40 % Austria Government Bond 144A 2012/2022 **... EUR % % Austria Government Bond 144A 2013/2023 **... EUR % % Austria Government Bond 2007/ EUR % % Austria Government Bond 2008/ EUR % % Austria Government Bond 2011/ EUR % % Belgium Government Bond 1998/2028 **... EUR % % Belgium Government Bond 2010/ EUR % % Belgium Government Bond 2010/ EUR % % Belgium Government Bond 2011/2021 **... EUR % % Belgium Government Bond 2012/2019 **... EUR % % Belgium Government Bond 2012/2022 **... EUR % % Belgium Government Bond 2012/ EUR % % Belgium Government Bond 2013/ EUR % % Belgium Government Bond 2013/ EUR % % Bundesobligation 2013/ EUR % % Bundesobligation 2014/ EUR % % Bundesrepublik Deutschland 1994/ EUR % % Bundesrepublik Deutschland 1997/2027 **... EUR % % Bundesrepublik Deutschland 1998/ EUR % % Bundesrepublik Deutschland 2000/2031 **... EUR % % Bundesrepublik Deutschland 2003/ EUR % % Bundesrepublik Deutschland 2005/ EUR % % Bundesrepublik Deutschland 2007/ EUR % % Bundesrepublik Deutschland 2008/ EUR % % Bundesrepublik Deutschland 2008/ EUR % % Bundesrepublik Deutschland 2009/ EUR % % Bundesrepublik Deutschland 2010/ EUR % % Bundesrepublik Deutschland 2010/ EUR % % Bundesrepublik Deutschland 2011/ EUR % % Bundesrepublik Deutschland 2012/ EUR % % Bundesrepublik Deutschland 2012/ EUR % % Bundesrepublik Deutschland 2013/ EUR % % Buoni del Tesoro Poliennali. -Reg- 2014/ EUR % % Buoni del Tesoro Poliennali. -Reg- 2014/ EUR % % Finland Government Bond 2010/ EUR % % Finland Government Bond -Reg- 2012/ EUR % % France Government Bond OAT 1993/2025 **... EUR % % France Government Bond OAT 1998/ EUR % % France Government Bond OAT 2001/ EUR % % France Government Bond OAT 2005/ EUR % % France Government Bond OAT 2006/ EUR % % France Government Bond OAT 2007/2023 **... EUR % % France Government Bond OAT 2009/ EUR % % France Government Bond OAT 2009/ EUR % % France Government Bond OAT 2010/ EUR % % France Government Bond OAT 2010/2020 **... EUR % % France Government Bond OAT 2010/ EUR % % France Government Bond OAT 2012/ EUR % % France Government Bond OAT 2012/ EUR % % France Government Bond OAT 2013/ EUR % % France Government Bond OAT 2013/ EUR % % Government of France 2005/2021 **... EUR % % Government of France 2012/2045 **... EUR % % Ireland Government Bond 2004/ EUR % % Ireland Government Bond 2008/ EUR % % Ireland Government Bond 2009/ EUR % % Ireland Government Bond 2013/2023 -Reg-... EUR % % Italy Buoni Poliennali del Tesoro 1993/ EUR % % Italy Buoni Poliennali del Tesoro 1997/ EUR % % Italy Buoni Poliennali del Tesoro 1998/ EUR % % Italy Buoni Poliennali del Tesoro 2002/ EUR % % Italy Buoni Poliennali del Tesoro 2003/ EUR % % Italy Buoni Poliennali del Tesoro 2004/ EUR % % Italy Buoni Poliennali del Tesoro 2007/ EUR % % Italy Buoni Poliennali del Tesoro 2008/ EUR % % Italy Buoni Poliennali del Tesoro 2010/ EUR % % Italy Buoni Poliennali del Tesoro 2010/ EUR % % Italy Buoni Poliennali del Tesoro 2011/ EUR % % Italy Buoni Poliennali del Tesoro 2012/ EUR % % Italy Buoni Poliennali del Tesoro 2012/ EUR % % Italy Buoni Poliennali del Tesoro 2012/ EUR % % Italy Buoni Poliennali del Tesoro 2012/ EUR % % Italy Buoni Poliennali del Tesoro 2012/ EUR % % Italy Buoni Poliennali del Tesoro 2012/ EUR % % Italy Buoni Poliennali del Tesoro 2013/ EUR % % Italy Buoni Poliennali del Tesoro 2013/ EUR % % Italy Buoni Poliennali del Tesoro 2013/ EUR % % Italy Buoni Poliennali del Tesoro 2013/ EUR % % Italy Buoni Poliennali del Tesoro 2013/ EUR % % Italy Buoni Poliennali del Tesoro 2014/ EUR %

143 DWS Invest Euro-Gov Bonds Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets 0.00 % Italy Certificati di Credito del Tesoro Zero Coupon 2013/ EUR % % Netherlands Government Bond 144A 2012/ EUR % % Netherlands Government Bond 144A 2013/ EUR % % Netherlands Government Bond 2005/ EUR % % Netherlands Government Bond 2006/ EUR % % Netherlands Government Bond 2010/ EUR % % Netherlands Government Bond 2010/ EUR % % Netherlands Government Bond 2011/2021 **... EUR % % Republika Slovenija -Reg- 2014/ EUR % % Spain Government Bond 2002/2017 **... EUR % % Spain Government Bond 2008/ EUR % % Spain Government Bond 2009/ EUR % % Spain Government Bond 2009/ EUR % % Spain Government Bond 2009/2019 **... EUR % % Spain Government Bond 2010/ EUR % % Spain Government Bond 2010/ EUR % % Spain Government Bond 2010/ EUR % % Spain Government Bond 2011/ EUR % % Spain Government Bond 2011/2022 **... EUR % % Spain Government Bond 2012/ EUR % % Spain Government Bond 2013/ EUR % % Spain Government Bond 2014/ EUR % Total securities portfolio Derivatives (Minus signs denote short positions) Interest rate derivatives Receivables/payables Option contracts Options on interest rate futures Call OGBL 09/ EUR (OTC) (DB)... Count Call OGBL 09/ EUR (OTC) (DB)... Count Cash at bank Demand deposits at Custodian EUR deposits... EUR Other assets Interest receivable Receivables from share certificate transactions Total assets *** Other liabilities Liabilities from cost items Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class LD... EUR Class NC... EUR Number of shares outstanding Class FC... Count Class LC... Count Class LD... Count Class NC... Count

144 DWS Invest Euro-Gov Bonds Composition of the reference portfolio (according to CSSF circular 11/512) CITI - EMU Government Bond Index, in EUR terms Constituents 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 June 30, 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 0.1, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Market abbreviations Contracting party for derivatives (with the exception of currency futures) DB = Deutsche Bank AG Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual 3.40 % Austria Government Bond 144A 2012/ EUR % Austria Government Bond 144A 2013/ EUR % Belgium Government Bond 1998/ EUR % Belgium Government Bond 2011/ EUR % Belgium Government Bond 2012/ EUR % Belgium Government Bond 2012/ EUR % Bundesrepublik Deutschland 1997/ EUR % Bundesrepublik Deutschland 2000/ EUR % France Government Bond OAT 1993/ EUR % France Government Bond OAT 2007/ EUR % France Government Bond OAT 2010/ EUR % Government of France 2005/ EUR % Government of France 2012/ EUR % Netherlands Government Bond 2011/ EUR % Spain Government Bond 2002/ EUR % Spain Government Bond 2009/ EUR % Spain Government Bond 2011/ EUR Total receivables from securities loans Contracting parties for securities loans BNP Paribas Arbitrage SNC, Credit Suisse AG, Deutsche Bank AG FI, Goldman Sachs Int. FI, Landesbank Baden-Württemberg, Morgan Stanley Intl. FI, Norddeutsche Landesbank, Skandinaviska Enskilda Banken, UBS AG London Branch and UniCredit Bank AG Total collateral pledged by third parties for securities loans EUR including: Equities EUR Other EUR Notes on 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. Assets reported in this report are not valued at derived market values. Footnotes **) Some or all of these securities are lent. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 142

145 DWS Invest Euro-Gov Bonds 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 Securities traded on an exchange Count/ units/ currency Purchases/ additions Sales/ disposals Interest-bearing securities % Bank of Ireland 2013/ EUR % Bonos y Obligaciones del Estado 2013/ EUR % Caisse Francaise de Financement Local (MTN) 2007/ EUR % ING Bank NV (MTN) 2011/ EUR % ING Belgium SA/NV 2013/ EUR % Ireland Government Bond 1999/ EUR % Italy Buoni Poliennali del Tesoro 2000/ EUR % Italy Buoni Poliennali Del Tesoro 2002/ EUR % Italy Buoni Poliennali Del Tesoro 2003/ EUR % Italy Buoni Poliennali Del Tesoro 2004/ EUR % Italy Buoni Poliennali Del Tesoro 2005/ EUR % Italy Buoni Poliennali del Tesoro 2007/ EUR % Italy Buoni Poliennali Del Tesoro 2007/ EUR % Italy Buoni Poliennali del Tesoro 2008/ EUR % Italy Buoni Poliennali del Tesoro 2008/ EUR % Italy Buoni Poliennali del Tesoro 2009/ EUR % Italy Buoni Poliennali del Tesoro 2009/ EUR % Italy Buoni Poliennali del Tesoro 2009/ EUR % Italy Buoni Poliennali Del Tesoro 2010/ EUR % Italy Buoni Poliennali Del Tesoro 2011/ EUR % Italy Buoni Poliennali del Tesoro 2013/ EUR % Italy Buoni Poliennali Del Tesoro 2013/ EUR % Spain Government Bond 144A 2013/ EUR % Spain Government Bond 2001/2032. EUR % Spain Government Bond 2005/2016. EUR % Spain Government Bond 2005/2037. EUR % Spain Government Bond 2006/2017. EUR % Spain Government Bond 2007/2040. EUR % Spain Government Bond 2010/2025. EUR % Spain Government Bond 2011/2026. EUR % Spain Government Bond 2012/2015. EUR % Spain Government Bond 2013/2016. EUR % Spain Government Bond 2013/2028. EUR 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 (Underlyings: EURO Bund, Euro Futures) EUR Option contracts Options on interest rate derivatives Options on bond index futures Call options purchased (Underlying: OGBL) EUR Put options purchased (Underlying: OGBL) EUR Put options sold (Underlying: OGBL) EUR

146 DWS Invest European Bonds Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Interest-bearing securities 2.25 % AIB Mortgage Bank (MTN) 2014/ EUR % % Instituto de Credito Oficial 2009/ EUR % % Ireland Government Bond 2013/2023 -Reg-... EUR % % Italy Buoni Poliennali del Tesoro 2007/ EUR % % Italy Buoni Poliennali del Tesoro 2009/ EUR % % Italy Buoni Poliennali del Tesoro 2011/ EUR % % Italy Buoni Poliennali del Tesoro 2011/ EUR % % Italy Buoni Poliennali del Tesoro 2012/ EUR % % Italy Buoni Poliennali del Tesoro 2013/ EUR % % Italy Buoni Poliennali del Tesoro 2013/ EUR % % Portugal Obrigacoes do Tesouro OT 2007/ EUR % % Santander International Debt SAU (MTN) 2010/2015 EUR % % Spain Government Bond 2009/ EUR % % Spain Government Bond 2011/ EUR % % Spain Government Bond 2013/ EUR % % Spain Government Bond 2013/ EUR % % Telefonica Emisiones SAU (MTN) 2012/ EUR % Total securities portfolio Cash at bank Other assets Interest receivable Receivables from exceeding the expense cap Total assets Other liabilities Liabilities from cost items Total liabilities Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Number of shares outstanding Class FC... Count Composition of the reference portfolio (according to CSSF circular 11/512) 70% iboxx EUR Italy Total Return Index in EUR, 30% iboxx EUR Spain Total Return Index in EUR 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 June 30, 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 0.0, whereby the total of the nominal amounts of the derivatives 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. Notes on 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. Assets reported in this report are not valued at derived market values. 144

147 DWS Invest European Bonds 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/ units/ currency Purchases/ additions Sales/ disposals Securities traded on an exchange Interest-bearing securities 3.25 % Banco Santander SA 2012/ EUR % Bank of Ireland Mortgage Bank (MTN) 2009/ EUR % Bankia SA 2012/ EUR % BPCE SFH SA 2011/ EUR % Instituto de Credito Oficial (MTN) 2010/ EUR % Italy Buoni Poliennali del Tesoro 2010/ EUR

148 DWS Invest European Small Cap Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Dufry Group.... Count CHF OC Oerlikon Corp. AG -Reg-.... Count CHF Temenos Group AG.... Count CHF VZ Holding AG.... Count CHF GN Store Nord AS.... Count DKK Jyske Bank A/S.... Count DKK Matas A/S.... Count DKK Aareal Bank AG.... Count EUR Anima Holding SpA.... Count EUR Atos Origin SA.... Count EUR Banca Popolare dell Emilia Romagna Scrl **.... Count EUR Banca Popolare dell Emilia Romagna Scrl -Rights Exp 20Jun14 **.... Count EUR bpost SA.... Count EUR Construcciones y Auxiliar de Ferrocarriles SA Count EUR Elior SCA.... Count EUR Euronext NV... Count EUR GameLoft SA.... Count EUR Gemalto NV **.... Count EUR Grupo Catalana Occidente SA.... Count EUR Industria Macchine Automatiche SpA... Count EUR Ingenico **.... Count EUR IPSOS... Count EUR KBC Ancora.... Count EUR KION Group AG.... Count EUR Krones AG.... Count EUR Melia Hotels International SA.... Count EUR Nordex SE.... Count EUR Norma Group..... Count EUR Nutreco NV.... Count EUR Ontex Group NV.... Count EUR Rheinmetall AG.... Count EUR Sartorius AG -Pref-.... Count EUR Stabilus GmbH... Count EUR Tecnicas Reunidas SA.... Count EUR Teleperformance... Count EUR Unipol Gruppo Finanziario SpA.... Count EUR Valeo SA... Count EUR Zumtobel AG.... Count EUR Berkeley Group Holdings Plc... Count GBP Filtrona Plc... Count GBP Inchcape Plc... Count GBP Keller Group Plc... Count GBP Laird Plc.... Count GBP Mitchells & Butlers Plc.... Count GBP Paragon Group of Cos Plc.... Count GBP Rightmove Plc.... Count GBP Stock Spirits Group Plc.... Count GBP WS Atkins Plc.... Count GBP Marine Harvest ASA.... Count NOK SpareBank 1 SR Bank ASA... Count NOK Total securities portfolio Cash at bank Demand deposits at Custodian EUR deposits.... EUR Deposits in other EU/EEA currencies British pound... GBP Danish krone.... DKK Norwegian krone.... NOK Swedish krona.... SEK Deposits in non-eu/eea currencies Swiss franc.... CHF Other assets Dividends receivable Other receivables

149 DWS Invest European Small Cap Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Receivables from share certificate transactions Total assets Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class ID.... EUR Class LC... EUR Class LD... EUR Class NC.... EUR Number of shares outstanding Class FC... Count Class ID.... Count Class LC... Count Class LD... Count Class NC.... Count Composition of the reference portfolio (according to CSSF circular 11/512) DJ Stoxx Europe Small 200 TR EUR 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 June 30, 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 0.0, whereby the total of the nominal amounts of the derivatives 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. Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual Banca Popolare dell Emilia Romagna Scrl Count Banca Popolare dell Emilia Romagna Scrl -Rights Exp 20Jun14 Count Gemalto NV Count Ingenico Count Total receivables from securities loans Contracting parties for securities loans Credit Suisse Securities (Europe) Ltd. EQ, Goldman Sachs Int., HSBC Bank Plc, Société Générale and UBS AG London Branch. Total collateral pledged by third parties for securities loans EUR including: Equities EUR Other EUR

150 DWS Invest European Small Cap Exchange rates (indirect quotes) As of June 30, 2014 Swiss franc.... CHF = EUR 1 Danish krone.... DKK = EUR 1 British pound... GBP = EUR 1 Norwegian krone.... NOK = EUR 1 Swedish krona.... SEK = EUR 1 Notes on 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. Assets reported in this report are not valued at derived market values. Footnotes **) Some or all of these securities are lent. 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/ units/ currency Purchases/ additions Sales/ disposals Securities traded on an exchange Equities Buzzi Unicem SpA.... Count CompuGroup Medical AG.... Count CTT-Correios de Portugal SA... Count edreams ODIGEO SL... Count edreams ODIGEO SL... Count Helvetia Patria Holding AG -Reg-.... Count OW Bunker A/S.... Count Schoeller-Bleckmann Oilfield Equipment AG... Count Securitas AB.... Count TUI AG.... Count United Internet AG -Reg-.... Count Wincor Nixdorf AG... Count

151 DWS Invest European Value Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Novartis AG -Reg-.... Count CHF Alcatel-Lucent -A-... Count EUR Allianz SE -Reg-.... Count EUR Anima Holding SpA.... Count EUR Banco Santander SA.... Count EUR Bayer AG.... Count EUR Belgacom SA.... Count EUR Bilfinger Berger AG.... Count EUR bpost SA.... Count EUR Cap Gemini SA... Count EUR Credit Agricole SA.... Count EUR Daimler AG... Count EUR Deutsche Bank AG -Reg-... Count EUR Deutsche Telekom AG -Reg-.... Count EUR E.ON AG.... Count EUR ENI SpA.... Count EUR European Aeronautic Defence and Space Co. NV... Count EUR GDF Suez... Count EUR HeidelbergCement AG... Count EUR Infineon Technologies AG.... Count EUR ING Groep NV.... Count EUR Intesa Sanpaolo SpA.... Count EUR Legrand SA.... Count EUR Mapfre SA.... Count EUR Outokumpu Oyj.... Count EUR Peugeot SA.... Count EUR Pirelli & Co. SpA... Count EUR Porsche Automobil Holding SE -Pref-.... Count EUR Prysmian SpA... Count EUR Red Electrica Corp. SA... Count EUR Renault SA.... Count EUR Rheinmetall AG.... Count EUR Sampo Oyj -A-.... Count EUR Société Générale.... Count EUR Stada Arzneimittel AG.... Count EUR Stora Enso Oyj -R-.... Count EUR Unipol Gruppo Finanziario SpA.... Count EUR Voestalpine AG.... Count EUR APR Energy Plc... Count GBP Barclays Plc.... Count GBP BP Plc... Count GBP HSBC Holdings Plc.... Count GBP Old Mutual Plc.... Count GBP Premier Foods Plc.... Count GBP Rio Tinto Plc... Count GBP Royal Dutch Shell Plc -A-.... Count GBP Royal Dutch Shell Plc -B-.... Count GBP Vodafone Group Plc.... Count GBP DnB NOR Bank ASA.... Count NOK Telenor ASA... Count NOK Total securities portfolio Derivatives (Minus signs denote short positions) Equity index derivatives Receivables/payables Equity index futures FTSE MIB Index 09/ EUR (XDMI)... Count IBEX 35 Index Futures 07/ EUR (MRV).... Count Currency derivatives Receivables/payables Currency futures (long) Open positions GBP/EUR 15.8 million

152 DWS Invest European Value Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Cash at bank Demand deposits at Custodian EUR deposits.... EUR Deposits in other EU/EEA currencies British pound... GBP Danish krone.... DKK Norwegian krone.... NOK Swedish krona.... SEK Deposits in non-eu/eea currencies Swiss franc.... CHF U.S. dollar.... USD Other assets Dividends receivable Other receivables Receivables from share certificate transactions Total assets *** Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class LD... EUR Class NC.... EUR Number of shares outstanding Class FC... Count Class LC... Count Class LD... Count Class NC.... Count Composition of the reference portfolio (according to CSSF circular 11/512) MSCI EUROPE VALUE Constituents 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 June 30, 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 0.1, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. 150

153 DWS Invest European Value Market abbreviations Futures exchanges MRV = Meffclear XDMI = Italian Derivatives Market Exchange rates (indirect quotes) As of June 30, 2014 Swiss franc.... CHF = EUR 1 Danish krone.... DKK = EUR 1 British pound... GBP = EUR 1 Norwegian krone.... NOK = EUR 1 Swedish krona.... SEK = EUR 1 U.S. dollar.... USD = EUR 1 Notes on 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. Assets reported in this report are not valued at derived market values. Footnotes ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 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/ units/ currency Purchases/ additions Sales/ disposals Description Count/ units/ currency Purchases/ additions Sales/ disposals Securities traded on an exchange Equities Acerinox SA.... Count APERAM.... Count ArcelorMittal.... Count Arkema SA... Count Atos Origin SA.... Count AXA SA.... Count Banco Popular Espanol SA.... Count Banco Popular Espanol SA -Rights Exp 31Jan14. Count Banco Santander SA -Rights Exp 28Apr Count Bankinter SA.... Count BASF SE... Count Berkeley Group Holdings Plc... Count BG Group Plc.... Count BT Group Plc.... Count CRH Plc.... Count Criteria Caixacorp SA.... Count Deutsche Bank AG -Rights Exp 05Jun Count EDF SA... Count Enel SpA.... Count Erste Group Bank AG... Count Fresenius SE & Co. KGaA.... Count GEA Group AG... Count GKN Plc.... Count Grupo Catalana Occidente SA.... Count Henkel AG & Co. KGaA -Pref-.... Count KBC Groep NV.... Count Lanxess AG.... Count Merck KGaA... Count Nutreco NV.... Count OSRAM Licht AG... Count Raiffeisen Bank International AG... Count Raiffeisen International Bank Holding AG.... Count Rexel SA.... Count Rolls-Royce Holdings Plc.... Count Serco Group Plc.... Count Societe Television Francaise 1... Count Software AG.... Count Stock Spirits Group Plc.... Count Svenska Cellulosa AB.... Count Telefonaktiebolaget LM Ericsson -B-... Count Thales SA... Count Total SA.... Count Verizon Communications, Inc.... Count Vivendi SA.... Count Vodafone Group Plc.... Count Volkswagen AG -Pref-.... Count WPP Plc... Count Securities admitted to or included in organized markets Equities Talang AG... Count Derivatives (option premiums realized in opening transactions, or total options transactions; in the case of warrants, purchases and sales are shown) Futures contracts Securities futures Value ( 000) Equity futures Contracts sold (Underlying: Pernod Ricard) EUR Equity index futures Contracts sold (Underlyings: DJ Euro Stoxx 50, FTSE MIB, IBEX 35) EUR Currency futures (short) Futures contracts to sell currencies GBP/EUR EUR Currency futures (long) Futures contracts to purchase currencies EUR/GBP EUR

154 DWS Invest German Equities Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Adidas AG.... Count EUR Allianz SE -Reg-.... Count EUR Amadeus Fire AG... Count EUR Aurubis AG... Count EUR BASF SE... Count EUR Bayer AG.... Count EUR Bayerische Motoren Werke AG... Count EUR Bayerische Motoren Werke AG -Pref- **.... Count EUR Bechtle AG... Count EUR Bilfinger Berger AG.... Count EUR Brenntag AG.... Count EUR Continental AG... Count EUR Daimler AG... Count EUR Deutsche Bank AG -Reg-... Count EUR Deutsche Boerse AG.... Count EUR Deutsche Lufthansa AG -Reg-.... Count EUR Deutsche Post AG -Reg-.... Count EUR Deutsche Telekom AG -Reg-.... Count EUR European Aeronautic Defence and Space Co. NV... Count EUR Evotec AG **... Count EUR Fraport AG Frankfurt Airport Services Worldwide Count EUR Freenet AG... Count EUR Fresenius SE & Co. KGaA.... Count EUR GAGFAH SA... Count EUR GEA Group AG... Count EUR Gerry Weber International AG.... Count EUR Grammer AG.... Count EUR Hannover Rueckversicherung AG -Reg-.... Count EUR HeidelbergCement AG... Count EUR Henkel AG & Co. KGaA -Pref-.... Count EUR Hornbach Holding AG -Pref-... Count EUR Infineon Technologies AG.... Count EUR Jenoptik AG.... Count EUR KION Group AG.... Count EUR KSB AG -Pref-.... Count EUR Lanxess AG.... Count EUR Linde AG.... Count EUR Merck KGaA... Count EUR MTU Aero Engines Holding AG.... Count EUR Muenchener Rueckversicherungs AG -Reg-.... Count EUR OSRAM Licht AG... Count EUR Pfeiffer Vacuum Technology AG.... Count EUR Porsche Automobil Holding SE -Pref-.... Count EUR ProSiebenSat.1 Media AG... Count EUR SAF-Holland SA.... Count EUR SAP AG **.... Count EUR Siemens AG -Reg-.... Count EUR Sixt AG -Pref-.... Count EUR Software AG.... Count EUR Stada Arzneimittel AG **... Count EUR Sto AG -Pref-.... Count EUR TUI AG.... Count EUR United Internet AG -Reg-.... Count EUR Volkswagen AG -Pref-.... Count EUR Securities admitted to or included in organized markets Equities Talang AG... Count EUR Total securities portfolio Derivatives (Minus signs denote short positions) Equity index derivatives Receivables/payables Equity index futures DAX Index Futures 09/ EUR (XEUR)... Count Currency derivatives Receivables/payables 152

155 DWS Invest German Equities Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Currency futures (long) Open positions USD/EUR 21.6 million Closed positions USD/EUR 0.1 million Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in other EU/EEA currencies British pound... GBP Other assets Dividends receivable Other receivables Receivables from share certificate transactions Total assets *** Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class LD... EUR Class NC... EUR Class PFC... EUR Class USD LC... USD Class USD LCH... USD Number of shares outstanding Class FC... Count Class LC... Count Class LD... Count Class NC... Count Class PFC... Count Class USD LC... Count Class USD LCH... Count Composition of the reference portfolio (according to CSSF circular 11/512) GERM CDAX PERFORMANCE unhedged Constituents 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 June 30, 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 0.1, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Does not include any forward currency transactions entered into for currency hedging purposes at the level of the share classes. 153

156 DWS Invest German Equities Market abbreviations Futures exchanges XEUR = Eurex Contracting party for currency futures State Street Bank and Trust Company Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual Bayerische Motoren Werke AG -Pref- Count Evotec AG Count SAP AG Count Stada Arzneimittel AG Count Total receivables from securities loans Contracting parties for securities loans Merrill Lynch International and Nomura International Plc. Total collateral pledged by third parties for securities loans EUR including: Equities EUR Other EUR Exchange rates (indirect quotes) As of June 30, 2014 British pound... GBP = EUR 1 U.S. dollar... USD = EUR 1 Notes on 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. Assets reported in this report are not valued at derived market values. Footnotes **) Some or all of these securities are lent. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 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/ units/ currency Purchases/ additions Sales/ disposals Derivatives (option premiums realized in opening transactions, or total options transactions; in the case of warrants, purchases and sales are shown) Securities traded on an exchange Equities CompuGroup Medical AG... Count Deutsche Bank AG -Rights Exp 05Jun14... Count ElringKlinger AG... Count Fuchs Petrolub AG... Count Gerresheimer AG... Count Gildemeister AG... Count Hugo Boss AG... Count Jungheinrich AG -Pref-... Count K+S AG... Count Leoni AG... Count Qiagen NV... Count Stroer Out-of-Home Media AG... Count Wacker Neuson SE -Reg-... Count Futures contracts Value ( 000) Equity index futures Contracts purchased (Underlying: Dax) EUR Contracts sold (Underlying: Dax) EUR Currency futures (short) Futures contracts to sell currencies EUR/USD EUR Currency futures (long) Futures contracts to purchase currencies USD/EUR EUR

157 DWS Invest Global Agribusiness Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period USD assets Securities traded on an exchange Equities Australian Agricultural Co., Ltd... Count AUD Coca-Cola Amatil Ltd... Count AUD GrainCorp Ltd... Count AUD Incitec Pivot Ltd... Count AUD Select Harvests Ltd... Count AUD All America Latina Logistica SA... Count BRL BrasilAgro - Companhia Brasileira de Propriedades Agricolas. Count BRL Fertilizantes Heringer SA... Count BRL Metalfrio Solutions SA... Count BRL Santos Brasil Participacoes SA... Count BRL Sao Martinho SA... Count BRL SLC Agricola SA... Count BRL Wilson Sons Ltd -BDR-... Count BRL Feronia, Inc.... Count CAD Aryzta AG... Count CHF Syngenta AG... Count CHF Ebro Puleva SA... Count EUR Koninklijke Wessanen NV... Count EUR KTG Agrar AG-BR... Count EUR KWS Saat AG... Count EUR Nutreco NV... Count EUR Raiffeisen International Bank Holding AG... Count EUR Sintal Agriculture -Reg- -GDR-... Count EUR Unilever NV... Count EUR Vilmorin & Cie... Count EUR Viscofan SA... Count EUR Greencore Group Plc -GB... Count GBP SABMiller Plc... Count GBP Tate & Lyle Plc... Count GBP Cafe de Coral Holdings Ltd... Count HKD China Agri-Industries Holdings Ltd... Count HKD China BlueChemical Ltd -H-... Count HKD China Merchants Holdings International Co., Ltd... Count HKD CPMC Holdings Ltd... Count HKD Bisi International PT... Count IDR Frutarom Industries Ltd... Count ILS Hite Jinro Co., Ltd... Count KRW Grupo Comercial Chedraui SA de CV... Count MXN Yara International ASA... Count NOK Agroton Public Ltd... Count PLN Astarta Holding NV... Count PLN Kernel Holding SA... Count PLN China Fishery Group Ltd... Count SGD Food Empire Holdings Ltd... Count SGD Noble Group Ltd... Count SGD Olam International Ltd... Count SGD Petra Foods Ltd... Count SGD Charoen Pokphand Foods PCL... Count THB CP ALL PCL... Count THB Adecoagro SA... Count USD AGCO Corp.... Count USD Agrium, Inc.... Count USD Ambev SA -ADR-... Count USD Annie s, Inc.... Count USD Bunge Ltd... Count USD CF Industries Holdings, Inc.... Count USD ConAgra Foods, Inc.... Count USD Credicorp Ltd... Count USD Cresud SA -ADR-... Count USD CSX Corp.... Count USD Darling International, Inc.... Count USD Dow Chemical Co.... Count USD Fresh Market, Inc.... Count USD ICICI Bank Ltd -ADR-... Count USD Ingredion, Inc.... Count USD Mead Johnson Nutrition Co.... Count USD Mondelez International, Inc.... Count USD Mosaic Co.... Count USD Novorossiysk Commercial Sea Port PJSC... Count USD Novorossiysk Commercial Sea Port PJSC -GDR-... Count USD Panera Bread Co.... Count USD Potash Corp. of Saskatchewan, Inc.... Count USD Razgulay Group... Count USD Sintal Agriculture -Reg- -GDR-... Count USD SunOpta, Inc.... Count USD TreeHouse Foods, Inc.... Count USD Union Agriculture Group SA... Count USD Weyerhaeuser Co.... Count USD WhiteWave Foods Co.... Count USD X 5 Retail Group NV -GDR-... Count USD

158 DWS Invest Global Agribusiness Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period USD assets Yum! Brands, Inc.... Count USD Zoetis, Inc.... Count USD Shoprite Holdings Ltd... Count ZAR Tiger Brands Ltd... Count ZAR Total securities portfolio Derivatives (Minus signs denote short positions) Currency derivatives Receivables/payables Currency futures (short) Open positions EUR/AUD 0.1 million EUR/BRL 0.1 million EUR/CAD 0.1 million EUR/CHF 0.1 million EUR/GBP 0.1 million EUR/HKD 0.1 million EUR/ILS 0.1 million EUR/NOK 0.1 million EUR/SGD 0.1 million EUR/ZAR 0.1 million Closed positions EUR/AUD 0.1 million EUR/BRL 0.1 million EUR/GBP 0.1 million EUR/HKD 0.1 million EUR/NOK 0.1 million EUR/SGD 0.1 million EUR/ZAR 0.1 million USD/EUR 0.1 million Currency futures (long) Open positions EUR/USD 0.1 million Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in other EU/EEA currencies British pound... GBP Norwegian krone... NOK Deposits in non-eu/eea currencies Australian dollar... AUD Hong Kong dollar... HKD Israeli shekel... ILS Mexican peso... MXN Swiss franc... CHF Singapore dollar... SGD South African rand... ZAR U.S. dollar... USD Other assets Dividends receivable Other receivables Receivables from share certificate transactions Total assets *** Short-term liabilities Loans in non-eu/eea currencies Brazilian real... BRL

159 DWS Invest Global Agribusiness Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period USD assets Other liabilities Liabilities from cost items Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class FCH (P)... EUR Class LC... EUR Class LD... EUR Class NC... EUR Class PFC... EUR Class GBP LD DS... GBP Class GBP RD... GBP Class USD FC... USD Class USD JD... USD Class USD LC... USD Number of shares outstanding Class FC... Count Class FCH (P)... Count 206 Class LC... Count Class LD... Count Class NC... Count Class PFC... Count 292 Class GBP LD DS... Count Class GBP RD... Count Class USD FC... Count Class USD JD... Count Class USD LC... Count Composition of the reference portfolio (according to CSSF circular 11/512) MSCI World Mid Cap in USD Constituents (January 1, May 25, 2014), S&P Global Agribusiness Equity Index (May 26, June 30, 2014) 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 June 30, 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 0.0, whereby the total of the nominal amounts of the derivatives 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 USD 0.00 as of the reporting date. Does not include any forward currency transactions entered into for currency hedging purposes at the level of the share classes. Market abbreviations Contracting party for currency futures State Street Bank and Trust Company 157

160 DWS Invest Global Agribusiness Exchange rates (indirect quotes) As of June 30, Australian dollar.... AUD = USD 1 Brazilian real... BRL = USD 1 Canadian dollar... CAD = USD 1 Swiss franc.... CHF = USD 1 Danish krone.... DKK = USD 1 Euro... EUR = USD 1 British pound... GBP = USD 1 Hong Kong dollar... HKD = USD 1 Indonesian rupiah... IDR = USD 1 Israeli shekel.... ILS = USD 1 South Korean won.... KRW = USD 1 Mexican peso... MXN = USD 1 Norwegian krone.... NOK = USD 1 Polish zloty... PLN = USD 1 Thai baht.... THB = USD 1 Singapore dollar... SGD = USD 1 South African rand.... ZAR = USD 1 Notes on 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. Assets reported in this report are not valued at derived market values. Footnotes ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 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 Securities traded on an exchange Count/ units/ currency Purchases/ additions Sales/ disposals Equities China Merchants -Rights Exp 05Jun Count Erste Group Bank AG... Count Feronia, Inc.... Count Hain Celestial Group, Inc..... Count Hillshire Brands Co.... Count Raiffeisen Bank International AG -Rights Exp 07Feb Count Senomyx, Inc..... Count Thermo Fisher Scientific, Inc..... Count 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 (short) Value ( 000) Futures contracts to sell currencies EUR/AUD USD EUR/BRL USD EUR/CAD USD 12 EUR/CHF USD EUR/GBP USD EUR/HKD USD EUR/ILS USD 210 EUR/NOK USD EUR/SGD USD EUR/ZAR USD USD/EUR USD Currency futures (long) Futures contracts to purchase currencies AUD/EUR USD BRL/EUR USD CAD/EUR USD 8 CHF/EUR USD 985 EUR/USD USD GBP/EUR USD 843 HKD/EUR USD 916 ILS/EUR USD 120 NOK/EUR USD 809 SGD/EUR USD ZAR/EUR USD

161 DWS Invest Global Bonds Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Interest-bearing securities 5.25 % Australia Government Bond 2006/ AUD % % Allianz SE 2013/2049 *... EUR % % AyT Cedulas Cajas Global 2005/ EUR % % Banco Bilbao Vizcaya Argentaria SA -Reg- 2014/2049 *... EUR % % Banco Espanol de Credito SA 2012/ EUR % % Banco Espirito Santo SA (MTN) 2014/ EUR % % Banco Popular Espanol SA (MTN) 2013/ EUR % % Banco Popular Espanol SA 2006/ EUR % % Banco Santander SA 2012/ EUR % % Bank of America Corp. (MTN) 2010/ EUR % % Bankinter SA 2012/ EUR % % Bayer AG 2014/2075 *... EUR % % Belgium Government Bond 2004/2014 **... EUR % % Belgium Government Bond 2006/ EUR % % Bundesrepublik Deutschland 2007/2018 **... EUR % % Bundesrepublik Deutschland 2012/2022 **... EUR % % Bundesschatzanweisungen 2013/2015 **... EUR % % CaixaBank 2013/ EUR % % Caja Rural de Navarra 2013/ EUR % % Corp Andina de Fomento (MTN) 2014/ EUR % % Credit Suisse AG/London 2014/ EUR % % France Government Bond OAT 2013/ EUR % % Intesa Sanpaolo SpA (MTN) 2013/ EUR % % Ireland Government Bond 2013/2023 -Reg-... EUR % % Italy Buoni Poliennali Del Tesoro 2014/ EUR % % Koninklijke KPN NV 2013/2049 * **... EUR % % National Westminster Bank Plc (MTN) 1999/2049 *... EUR % % Netherlands Government Bond 144A 2013/2023 **... EUR % % Netherlands Government Bond 2009/2015 **... EUR % % Petroleos Mexicanos (MTN) 2009/ EUR % % Portugal Obrigacoes do Tesouro OT 144A 2011/ EUR % % Repsol International Finance BV (MTN) 2011/2016. EUR % % Royal Bank of Scotland Group Plc 2014/ EUR % % Royal Bank of Scotland Plc (MTN) 2003/ EUR % % RWE AG 2010/2049 *... EUR % % Spain Government Bond 2006/ EUR % % Spain Government Bond 2011/ EUR % % Terna Rete Elettrica Nazionale SpA (MTN) 2012/ EUR % % UBS AG 2005/2049 *... EUR % % Veolia Environnement SA 2013/2049 * **... EUR % % Commonwealth Bank of Australia 2014/ GBP % % GE Capital UK Funding (MTN) 2010/ GBP % % Nationwide Building Society (MTN) 2014/2049 *.. GBP % % United Kingdom Gilt 2011/2017 **... GBP % % New Zealand Government Bond 2010/ NZD % % Credit Suisse Group AG -Reg- 2013/2049 *... USD % % Rabobank Nederland NV 2013/2049 *... USD % % UBS AG 2013/2023 * **... USD % % Wachovia Corp. (MTN) 2008/ USD % Securities admitted to or included in organized markets Interest-bearing securities 9.00 % Banco do Brasil SA/Cayman -Reg- 2014/2049 *... USD % Total securities portfolio Derivatives (Minus signs denote short positions) Currency derivatives Receivables/payables Currency futures (short) Open positions EUR/AUD 8.5 million EUR/GBP 36.5 million EUR/NZD 8.5 million EUR/USD 29.5 million

162 DWS Invest Global Bonds Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Currency futures (long) Open positions GBP/EUR 0.1 million Swaps Receivables/payables Interest rate swaps 3M Euribor / 1.67% 27/12/2021 (OTC) (DB)... Count M Libor / 2.689% 18/06/2024 (OTC) (DB)... Count M Euribor / 0.35% 06/06/2016 (OTC) (DB)... Count M Euribor / 0.55% 13/06/2018 (OTC) (DB)... Count M Euribor / 0.785% 06/06/2019 (OTC) (DB)... Count M Euribor / 1.266% 17/06/2022 (OTC) (DB)... Count M Euribor / 1.558% 26/03/2022 (OTC) (DB)... Count M Euribor / 1.605% 06/06/2024 (OTC) (DB)... Count M Libor / 0.609% 18/06/2016 (OTC) (DB)... Count M Libor / 1.144% 06/06/2016 (OTC) (DB)... Count M Libor / 2.057% 06/06/2019 (OTC) (DB)... Count M Libor / 2.758% 06/06/2024 (OTC) (DB)... Count M Libor / 3.297% 21/03/2044 (OTC) (DB)... Count Credit default swaps Protection seller Banco Espirito Santo / 5% 20/06/2019 (OTC) (JP)... Count Intesa Sanpaolo / 3% 20/06/2019 (OTC) (DB)... Count Italy / 1% 20/03/2021 (OTC) (DB)... Count ITRAXX Europe 10 Year / 1% 20/12/2023 (OTC) (DB)... Count Protection buyer BCP Finance Bank / 5% 20/06/2019 (OTC) (DB)... Count BCP Finance Bank / 5% 20/06/2019 (OTC) (JP)... Count Italy / 1% 20/03/2016 (OTC) (DB)... Count Italy / 1% 20/03/2017 (OTC) (DB)... Count ITRAXX Europe / 5% 20/12/2018 (OTC) (DB)... Count ITRAXX Europe 5 Year / 1% 20/06/2019 (OTC) (DB)... Count UniCredit / 3% 20/06/2019 (OTC) (DB)... Count Cash at bank Deposits in other EU/EEA currencies British pound... GBP Deposits in non-eu/eea currencies Australian dollar... AUD New Zealand dollar... NZD U.S. dollar... USD Other assets Interest receivable Other receivables Receivables from share certificate transactions Total assets *** Short-term liabilities EUR loans... EUR Other liabilities Additional other liabilities Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 160

163 DWS Invest Global Bonds 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 FCH (P).... EUR Class LCH (P).... EUR Class LDH (P)... EUR Class NCH (P).... EUR Class PFCH (P)... EUR Class PFDQH (P).... EUR Class GBP IDH (P).... GBP Number of shares outstanding Class FCH (P).... Count Class LCH (P).... Count Class LDH (P)... Count Class NCH (P).... Count Class PFCH (P)... Count Class PFDQH (P).... Count Class GBP IDH (P).... Count 163 Composition of the reference portfolio (according to CSSF circular 11/512) JP Morgan GBI Global Bond Index in EUR Constituents (January 1, May 25, 2014), 5% vom Portfoliowert (May 26, June 30, 2014) 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 June 30, 2014, using historical simulation with a 99% confidence level, a 10-day holding period and an effective historical observation period of one year. 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 absolute 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 1.2, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Total collateral pledged by third parties in connection with derivatives EUR including: Cash at bank EUR Other EUR Market abbreviations Contracting parties for derivatives (with the exception of currency futures) DB = Deutsche Bank AG JP = JPMorgan Chase & Co. Contracting parties for currency futures Credit Suisse London Branch (GFX), Deutsche Bank AG Frankfurt and Goldman Sachs International. Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual 4.25 % Belgium Government Bond 2004/2014 EUR % Bundesrepublik Deutschland 2007/2018 EUR % Bundesrepublik Deutschland 2012/2022 EUR % Bundesschatzanweisungen 2013/2015 EUR % Koninklijke KPN NV 2013/2049 * EUR % Netherlands Government Bond 144A 2013/2023 EUR % Netherlands Government Bond 2009/2015 EUR % Veolia Environnement SA 2013/2049 * EUR % United Kingdom Gilt 2011/2017 GBP % UBS AG 2013/2023 * USD Total receivables from securities loans Contracting parties for securities loans Barclays Capital Securities Limited, Deutsche Bank AG FI, Morgan Stanley Intl. FI and UniCredit Bank AG Total collateral pledged by third parties for securities loans EUR including: Equities EUR Other EUR

164 DWS Invest Global Bonds Exchange rates (indirect quotes) As of June 30, 2014 Australian dollar.... AUD = EUR 1 British pound... GBP = EUR 1 New Zealand dollar.... NZD = EUR 1 U.S. dollar.... USD = EUR 1 Notes on 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. Assets reported in this report are not valued at derived market values. Footnotes *) Floating interest rate. **) Some or all of these securities are lent. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 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 Securities traded on an exchange Count/ units/ currency Purchases/ additions Sales/ disposals Interest-bearing securities % America Movil SAB de CV 2013/2073 *... EUR % Croatia Government International Bond 2009/ EUR % Gazprom OAO (MTN) -Reg- 2012/ EUR % Government of France 2004/ EUR % Italy Buoni Poliennali del Tesoro 2007/ EUR % Italy Buoni Poliennali del Tesoro 2009/ EUR % Italy Buoni Poliennali del Tesoro 2011/ EUR % Italy Buoni Poliennali del Tesoro 2011/ EUR % Italy Buoni Poliennali del Tesoro 2011/ EUR % Italy Buoni Poliennali del Tesoro 2013/ EUR % Poland Government International Bond (MTN) 2005/ EUR % Spain Government Bond 2011/ EUR % Telefonica Emisiones SAU (MTN) 2013/ EUR % UBS AG (MTN) 2014/2026 *.... EUR % UniCredit SpA (MTN) 2013/ EUR % UT2 Funding Plc 2006/ EUR % Imperial Tobacco Finance Plc (MTN) 2014/ GBP % NGG Finance Plc 2013/2073 *.... GBP % Orange SA 2014/2049 *.... GBP % United Kingdom Gilt 2013/ GBP 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 (Underlyings: EURO BOBL, EURO Bund, Euro Futures, EURO SCHATZ, US Treasury Note 10-Year, US Treasury Note 5-Year) EUR Contracts sold (Underlying: US Treasury Note 5-Year) EUR Currency futures (short) Futures contracts to sell currencies EUR/AUD EUR EUR/GBP EUR EUR/NZD EUR EUR/USD EUR Currency futures (long) Futures contracts to purchase currencies GBP/EUR EUR Swaps Interest rate swaps (Underlyings: Swap GBP Libor, Swap USD Libor) EUR Credit default swaps Protection buyer (Underlying: ITRAXX Europe) EUR

165 DWS Invest Global Emerging Markets Equities Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Emaar Properties PJSC.... Count AED Banco do Brasil SA.... Count BRL BB Seguridade Participacoes... Count BRL BM&FBOVESPA SA... Count BRL BRF - Brasil Foods SA.... Count BRL Cia Brasileira de Distribuicao Grupo Pao de Acucar.... Count BRL Petroleo Brasileiro SA.... Count BRL Grupo de Inversiones Suramericana SA.... Count COP Alpha Bank AE.... Count EUR Eurobank Ergasias SA.... Count EUR National Bank of Greece -ADR-... Count EUR Raiffeisen International Bank Holding AG.... Count EUR Anhui Conch Cement Co., Ltd -H- **.... Count HKD China CNR Corp., Ltd... Count HKD China Construction Bank Corp. -H-.... Count HKD China Merchants Bank Co., Ltd -H-.... Count HKD China Mobile Ltd.... Count HKD China Overseas Land & Investment Ltd.... Count HKD China Unicom Hong Kong Ltd.... Count HKD Chow Tai Fook Jewellery Group Ltd.... Count HKD CITIC Securities Co., Ltd.... Count HKD Industrial & Commercial Bank of China -H-.... Count HKD PetroChina Co., Ltd.... Count HKD Ping An Insurance Group Co. of China Ltd.... Count HKD Samsonite International SA.... Count HKD Sands China Ltd... Count HKD Tencent Holdings Ltd... Count HKD Zhuzhou CSR Times Electric Co., Ltd -H-.... Count HKD Bank Mandiri Tbk PT.... Count IDR Bank Rakyat Indonesia Persero Tbk PT... Count IDR Semen Gresik Persero Tbk PT... Count IDR Telekomunikasi Indonesia Persero Tbk PT... Count IDR Axis Bank Ltd... Count INR Bharti Airtel Ltd.... Count INR HCL Technologies Ltd... Count INR ICICI Bank Ltd.... Count INR ITC Ltd.... Count INR Larsen & Toubro Ltd.... Count INR Lupin Ltd.... Count INR Reliance Industries Ltd.... Count INR State Bank of India... Count INR Tata Consultancy Services Ltd... Count INR Tata Motors Ltd.... Count INR Wipro Enterprises Ltd... Count INR Wipro Ltd... Count INR Doosan Infracore Co., Ltd.... Count KRW Hana Financial Group, Inc.... Count KRW Hynix Semiconductor, Inc.... Count KRW Hyundai Department Store Co., Ltd.... Count KRW Hyundai Motor Co.... Count KRW LG Chem Ltd.... Count KRW Samsung Electronics Co., Ltd.... Count KRW Samsung Fire & Marine Insurance Co., Ltd.... Count KRW Samsung Heavy Industries Co., Ltd.... Count KRW Shinhan Financial Group Co., Ltd... Count KRW Shinsegae Co., Ltd... Count KRW SK Innovation Co., Ltd.... Count KRW Fomento Economico Mexicano SAB de CV.... Count MXN Grupo Lala SAB de CV... Count MXN Grupo Mexico SAB de CV -B-.... Count MXN Malayan Banking Bhd.... Count MYR Alliance Global Group, Inc.... Count PHP Ayala Land, Inc... Count PHP BDO Unibank, Inc.... Count PHP Metropolitan Bank & Trust... Count PHP Universal Robina Corp..... Count PHP Denizbank AS... Count 1 TRY Turkcell Iletisim Hizmetleri AS... Count TRY Turkiye Garanti Bankasi AS.... Count TRY Cathay Financial Holding Co., Ltd.... Count TWD Chailease Holding Co., Ltd.... Count TWD China Life Insurance Co., Ltd.... Count TWD Eclat Textile Co., Ltd.... Count TWD Hermes Microvision, Inc.... Count TWD Largan Precision Co., Ltd... Count TWD MediaTek, Inc.... Count TWD Taiwan Semiconductor Manufacturing Co., Ltd.... Count TWD Ambev SA -ADR-.... Count USD Anheuser-Busch InBev NV -ADR-.... Count USD

166 DWS Invest Global Emerging Markets Equities Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Baidu, Inc. -ADR-... Count USD Banco Bradesco SA -ADR-... Count USD Banco Santander Chile... Count USD Cia Siderurgica Nacional SA -ADR-... Count USD Copa Holdings SA -A-... Count USD First Cash Financial Services, Inc.... Count USD Gafisa SA -ADR-... Count USD Gazprom -ADR-... Count USD Itau Unibanco Holding SA -ADR-... Count USD MMC Norilsk Nickel -ADR-... Count USD OJSC LSR Group -Reg-... Count USD Sberbank of Russia -ADR-... Count USD Sistema JSFC -GDR-... Count USD Surgutneftegas OJSC... Count USD Taiwan Semiconductor Manufacturing Co., Ltd -ADR-... Count USD BHP Billiton Plc... Count ZAR MTN Group Ltd... Count ZAR Naspers Ltd -N-... Count ZAR Shoprite Holdings Ltd... Count ZAR Woolworths Holdings Ltd... Count ZAR Investment fund units In-group fund units db x-trackers - FTSE VIETNAM ETF (0.650%)... Units EUR Non-group fund units ishares MSCI Mexico Capped UCITS ETF (0.650%)... Units EUR Total securities portfolio Derivatives (Minus signs denote short positions) Equity index derivatives Receivables/payables Equity index futures MSCI Taiwan Index 07/ USD (SIM)... Count Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in other EU/EEA currencies British pound... GBP Polish zloty... PLN Hungarian forint... HUF Deposits in non-eu/eea currencies Brazilian real... BRL Hong Kong dollar... HKD Indian rupee... INR Indonesian rupiah... IDR Canadian dollar... CAD Colombian peso... COP Malaysian ringgit... MYR Mexican peso... MXN New Taiwan dollar... TWD Philippine peso... PHP Singapore dollar... SGD South African rand... ZAR South Korean won... KRW Thai baht... THB Turkish lira... TRY U.S. dollar... USD UAE Dirham... AED Other assets Dividends receivable Other receivables Receivables from share certificate transactions

167 DWS Invest Global Emerging Markets Equities Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Total assets Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class LD... EUR Class NC.... EUR Class PFC... EUR Class USD FC.... USD Class USD LC.... USD Number of shares outstanding Class FC... Count Class LC... Count Class LD... Count Class NC.... Count Class PFC... Count 396 Class USD FC.... Count Class USD LC.... Count Composition of the reference portfolio (according to CSSF circular 11/512) MSCI EM (EMERGING MARKETS) Constituents 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 June 30, 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 0.1, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Market abbreviations Futures exchanges SIM = Singapore Exchange Derivatives Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual Anhui Conch Cement Co., Ltd -H- Count Total receivables from securities loans Contracting parties for securities loans Deutsche Bank London and Société Générale Total collateral pledged by third parties for securities loans EUR including: Equities EUR Other EUR

168 DWS Invest Global Emerging Markets Equities Exchange rates (indirect quotes) As of June 30, UAE Dirham.... AED = EUR 1 Brazilian real... BRL = EUR 1 Canadian dollar... CAD = EUR 1 Colombian peso.... COP = EUR 1 British pound... GBP = EUR 1 Hong Kong dollar... HKD = EUR 1 Hungarian forint.... HUF = EUR 1 Indonesian rupiah... IDR = EUR 1 Indian rupee.... INR = EUR 1 South Korean won.... KRW = EUR 1 Philippine peso... PHP = EUR 1 Polish zloty... PLN = EUR 1 Malaysian ringgit.... MYR = EUR 1 Mexican peso... MXN = EUR 1 Singapore dollar... SGD = EUR 1 Thai baht.... THB = EUR 1 Turkish lira.... TRY = EUR 1 New Taiwan dollar.... TWD = EUR 1 U.S. dollar.... USD = EUR 1 South African rand.... ZAR = EUR 1 Notes on 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. Assets reported in this report are not 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. Footnotes **) Some or all of these securities are lent. 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/ units/ currency Purchases/ additions Sales/ disposals Description Count/ units/ currency Purchases/ additions Sales/ disposals Securities traded on an exchange Equities AIA Group Ltd.... Count ALL ORE Mineracao SA... Count Beijing Enterprises Holdings Ltd.... Count China Gas Holdings Ltd.... Count China Longyuan Power Group Corp.... Count China Railway Construction Corp. -H-.... Count China Railway Group Ltd.... Count China Resources Power Holdings Co., Ltd.... Count CNOOC Ltd.... Count Cosco Pacific Ltd.... Count Ctrip.com International Ltd -ADR-.... Count Dongfeng Motor Group Co., Ltd -H-.... Count GCL Poly Energy Holdings Ltd.... Count Great Wall Motor Co., Ltd -H-.... Count Grupo de Inversiones Suramericana SA.... Count Haier Electronics Group Co., Ltd.... Count Hengan International Group Co., Ltd.... Count HSBC Holdings Plc.... Count Jiangxi Copper Co., Ltd -H-.... Count Melco PBL Entertainment Macau Ltd -ADR-... Count Mindray Medical International Ltd -ADR-... Count OCI Co., Ltd.... Count OTP Bank Nyrt.... Count Poly Culture Group Corp., Ltd.... Count Qihoo 360 Technology Co., Ltd -ADR-... Count Raiffeisen Bank International AG... Count Sberbank of Russia -ADR-.... Count Shimao Property Holdings Ltd... Count SouthGobi Resources Ltd.... Count Sun Pharmaceutical Industries Ltd.... Count TCS Group Holding Plc -GDR-.... Count Tencent Holdings Ltd... Count Tencent Holdings Ltd... Count TMK OAO -GDR-.... Count Ultrapar Participacoes SA.... Count United Spirits Ltd.... Count VTB Bank OJSC -Reg-.... Count Want Want China Holdings Ltd.... Count Xinyi Solar Holdings Ltd... Count 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) Equity index futures Contracts sold (Underlyings: H-Shares, MSCI Taiwan) EUR

169 DWS Invest Global GDP Bonds (formerly: DWS Invest Income Strategy Currency) Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Interest-bearing securities 5.25 % Australia Government Bond 2006/ AUD % % Brazil Notas do Tesouro Nacional Serie F 2007/ BRL % % BSH Bosch and Siemens Hausgeraete GmbH -Reg- 2011/ CNH % % China Development Bank Corp. (MTN) 2013/2015 * CNH % % China Government Bond 2010/ CNH % % China Government Bond 2013/ CNH % % China Government Bond 2013/ CNH % % China Government Bond 2013/ CNH % % Hongkong & Shanghai Banking Corp., Ltd (MTN) 2013/ CNH % % Volkswagen International Finance NV 2012/ CNH % % Italy Buoni Poliennali del Tesoro 2012/ EUR % % Slovenia Government Bond 2010/ EUR % % Spain Government Bond 2009/ EUR % % Spain Government Bond 2013/ EUR % % Korea Treasury Bond 2013/ KRW % % Mexican Bonos 2010/ MXN % % Poland Government Bond 2007/2018 *... PLN % % Poland Government Bond 2013/ PLN % % Croatia Government International Bond -Reg- 2012/ USD % % Export-Import Bank of India 2010/ USD % % Export-Import Bank of Malaysia Bhd (MTN) 2012/ USD % % Gazprom OAO (MTN) -Reg- 2006/2016 **... USD % % Indonesia Government International Bond -Reg- 2006/ USD % % Magyar Export-Import Bank 2012/ USD % % Republic of Latvia -Reg- 2012/ USD % % Transnet Ltd -Reg- 2011/ USD % % Turkey Government International Bond 2004/2015. USD % % Turkey Government International Bond 2006/2016. USD % % Vnesheconombank -Reg- 2012/ USD % Securities admitted to or included in organized markets Interest-bearing securities % State Bank of India -Reg- 2012/ USD % Unlisted securities Interest-bearing securities 3.35 % Caterpillar Financial Services Corp. (MTN) -Reg- 2012/ CNH % Investment fund units In-group fund units DWS Short Duration Emerging Markets FX (0.600%)... Units EUR Total securities portfolio Derivatives (Minus signs denote short positions) Currency derivatives Receivables/payables Currency futures (short) Open positions EUR/USD 51.6 million USD/BRL 1.5 million USD/CNH 35 million USD/KRW 750 million USD/MXN 6 million USD/PLN 6.5 million Closed positions EUR/USD 1.4 million USD/CAD 3.8 million USD/CNH 35 million USD/MXN 15 million

170 DWS Invest Global GDP Bonds (formerly: DWS Invest Income Strategy Currency) Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Currency futures (long) Open positions CAD/USD 1.6 million COP/USD million IDR/USD million INR/USD 250 million JPY/USD 570 million MYR/USD 5 million RUB/USD 50 million TWD/USD 50 million Closed positions GBP/USD 2.5 million THB/USD 40 million TRY/USD 3.5 million ZAR/USD 14 million Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in other EU/EEA currencies British pound... GBP Norwegian krone... NOK Polish zloty... PLN Swedish krona... SEK Deposits in non-eu/eea currencies Australian dollar... AUD Brazilian real... BRL Chinese offshore renminbi... CNH Japanese yen... JPY Canadian dollar... CAD Mexican peso... MXN New Zealand dollar... NZD Russian rouble... RUB Swiss franc... CHF South African rand... ZAR South Korean won... KRW Thai baht... THB Turkish lira... TRY U.S. dollar... USD Other assets Interest receivable Receivables from exceeding the expense cap Total assets *** Other liabilities Liabilities from cost items Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class NC... EUR Number of shares outstanding Class FC... Count Class LC... Count Class NC... Count

171 DWS Invest Global GDP Bonds (formerly: DWS Invest Income Strategy Currency) Composition of the reference portfolio (according to CSSF circular 11/512) 2.5% of portfolio value 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 June 30, 2014, using historical simulation with a 99% confidence level, a 10-day holding period and an effective historical observation period of one year. 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 absolute 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 2.5, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Market abbreviations Contracting parties for currency futures Barclays Bank Plc, Citibank N.A. London, Deutsche Bank AG Frankfurt, Goldman Sachs International, JP Morgan Chase Bank N.A., Merrill Lynch International, Morgan Stanley and Co. International Plc, Nomura International Plc, Société Générale and UBS AG London Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual % Gazprom OAO (MTN) -Reg- 2006/2016 USD Total receivables from securities loans Total collateral pledged by third parties for securities loans EUR including: Equities EUR Exchange rates (indirect quotes) As of June 30, 2014 Australian dollar... AUD = EUR 1 Brazilian real... BRL = EUR 1 Canadian dollar... CAD = EUR 1 Swiss franc... CHF = EUR 1 Chinese offshore renminbi... CNH = EUR 1 Colombian peso... COP = EUR 1 British pound... GBP = EUR 1 Indonesian rupiah... IDR = EUR 1 Indian rupee... INR = EUR 1 Japanese yen... JPY = EUR 1 South Korean won... KRW = EUR 1 Mexican peso... MXN = EUR 1 Malaysian ringgit... MYR = EUR 1 Norwegian krone... NOK = EUR 1 New Zealand dollar... NZD = EUR 1 Polish zloty... PLN = EUR 1 Russian rouble... RUB = EUR 1 Swedish krona... SEK = EUR 1 Thai baht... THB = EUR 1 Turkish lira... TRY = EUR 1 New Taiwan dollar... TWD = EUR 1 U.S. dollar... USD = EUR 1 South African rand... ZAR = EUR 1 169

172 DWS Invest Global GDP Bonds (formerly: DWS Invest Income Strategy Currency) Notes on 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. Assets reported in this report are not 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. Footnotes *) Floating interest rate. **) Some or all of these securities are lent. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 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 Securities traded on an exchange Count/ units/ currency Purchases/ additions Sales/ disposals Interest-bearing securities 5.75 % Treasury Corp. of Victoria 2005/ AUD % Switzerland Government Bond 2005/ CHF % Italy Buoni Poliennali del Tesoro 2013/ EUR % United Kingdom Gilt 2010/ GBP % Mexican Bonos 2009/ MXN Securities admitted to or included in organized markets Interest-bearing securities 4.50 % Sweden Government Bond 2004/ SEK Unlisted securities Interest-bearing securities 1.25 % Canadian Government Bond 2013/ EUR 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 (short) Value ( 000) Futures contracts to sell currencies EUR/USD EUR USD/AUD EUR USD/BRL EUR USD/CAD EUR USD/CHF EUR USD/CNH EUR USD/COP EUR USD/GBP EUR USD/IDR EUR USD/INR EUR USD/JPY EUR USD/KRW EUR USD/MXN EUR USD/MYR EUR USD/PLN EUR USD/RUB EUR USD/THB EUR USD/TRY EUR USD/TWD EUR USD/ZAR EUR Currency futures (long) Futures contracts to purchase currencies AUD/USD EUR BRL/USD EUR CAD/USD EUR CHF/USD EUR CNH/USD EUR COP/USD EUR GBP/USD EUR IDR/USD EUR INR/USD EUR JPY/USD EUR KRW/USD EUR MXN/USD EUR MYR/USD EUR PLN/USD EUR RUB/USD EUR THB/USD EUR TRY/USD EUR TWD/USD EUR USD/EUR EUR ZAR/USD EUR

173 DWS Invest Global Infrastructure Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Transurban Group.... Count AUD Enbridge, Inc.... Count CAD Inter Pipeline Ltd... Count CAD Pembina Pipeline Corp.... Count CAD TransAlta Renewables, Inc.... Count CAD TransCanada Corp.... Count CAD Flughafen Zuerich AG.... Count CHF Atlantia SpA.... Count EUR Eutelsat Communications SA.... Count EUR Ferrovial SA.... Count EUR Groupe Eurotunnel SA.... Count EUR Hamburger Hafen and Logistik AG.... Count EUR Koninklijke Vopak NV.... Count EUR SES SA... Count EUR Snam Rete Gas SpA.... Count EUR National Grid Plc.... Count GBP United Utilities Group Plc... Count GBP China Merchants Holdings International Co., Ltd.... Count HKD ENN Energy Holdings Ltd.... Count HKD Jiangsu Expressway Co., Ltd -H-... Count HKD Zhejiang Expressway Co., Ltd -H-.... Count HKD Infraestructura Energetica Nova SAB de CV... Count MXN American Airlines Group, Inc..... Count USD American Tower Corp.... Count USD American Water Works Co., Inc.... Count USD Canadian National Railway Co..... Count USD Canadian Pacific Railway Ltd.... Count USD Cheniere Energy, Inc..... Count USD Crown Castle International Corp.... Count USD Enbridge Energy Management LLC.... Count USD ITC Holdings Corp.... Count USD Kinder Morgan, Inc.... Count USD NiSource, Inc.... Count USD NorthWestern Corp.... Count USD Pattern Energy Group, Inc..... Count USD PG&E Corp... Count USD SBA Communications Corp..... Count USD SemGroup Corp..... Count USD Sempra Energy.... Count USD Spectra Energy Corp.... Count USD Union Pacifique Corp..... Count USD Williams Cos, Inc..... Count USD Total securities portfolio Derivatives (Minus signs denote short positions) Currency derivatives Receivables/payables Currency futures (long) Open positions CHF/EUR 2.5 million Cash at bank Demand deposits at Custodian EUR deposits.... EUR Deposits in other EU/EEA currencies British pound... GBP Deposits in non-eu/eea currencies. Australian dollar.... AUD Hong Kong dollar... HKD Canadian dollar... CAD Mexican peso... MXN U.S. dollar.... USD Other assets Dividends receivable Other receivables

174 DWS Invest Global Infrastructure Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Receivables from share certificate transactions Total assets Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 CHF LCH.... CHF Class FC... EUR Class LC... EUR Class LD... EUR Class NC.... EUR Class GBP RD.... GBP Class USD FC.... USD Class USD LC.... USD Number of shares outstanding Class CHF LCH.... Count Class FC... Count Class LC... Count Class LD... Count Class NC.... Count Class GBP RD.... Count Class USD FC.... Count Class USD LC.... Count Composition of the reference portfolio (according to CSSF circular 11/512) MSCI THE WORLD INDEX in EUR Constituents 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 June 30, 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 0.0, whereby the total of the nominal amounts of the derivatives 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. Does not include any forward currency transactions entered into for currency hedging purposes at the level of the share classes. Market abbreviations Contracting party for currency futures State Street Bank and Trust Company Exchange rates (indirect quotes) As of June 30, Australian dollar.... AUD = EUR 1 Canadian dollar... CAD = EUR 1 Swiss franc.... CHF = EUR 1 British pound... GBP = EUR 1 Hong Kong dollar... HKD = EUR 1 Mexican peso... MXN = EUR 1 U.S. dollar.... USD = EUR 1 172

175 DWS Invest Global Infrastructure Notes on 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 which are agreed between the Custodian and the investment 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. Assets reported in this report are not valued at derived market values. 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 Securities traded on an exchange Count/ units/ currency Purchases/ additions Sales/ disposals Equities Abengoa Yield Plc... Count Beijing Enterprises Holdings Ltd... Count China Merchants -Rights Exp 05Jun14... Count Delta Air Lines, Inc.... Count Enagas SA... Count Fraport AG Frankfurt Airport Services Worldwide.Count ONE Gas, Inc.... Count ONEOK, Inc.... Count Pennon Group Plc... Count Pepco Holdings, Inc.... Count Severn Trent Plc... Count Terna Rete Elettrica Nazionale SpA... Count United Continental Holdings, Inc.... Count 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 (short) Value ( 000) Futures contracts to sell currencies EUR/CHF EUR Currency futures (long) Futures contracts to purchase currencies CHF/EUR EUR

176 DWS Invest Global Thematic Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period USD assets Securities traded on an exchange Equities Mesoblast Ltd... Count AUD All America Latina Logistica SA.... Count BRL BR Properties SA.... Count BRL Lojas Renner SA.... Count BRL SLC Agricola SA... Count BRL Julius Baer Group Ltd.... Count CHF Novartis AG -Reg-.... Count CHF Roche Holding AG.... Count CHF Adidas AG.... Count EUR Axel Springer AG.... Count EUR Bayerische Motoren Werke AG... Count EUR Deutsche Lufthansa AG -Reg-.... Count EUR Deutsche Post AG -Reg-.... Count EUR Erste Group Bank AG... Count EUR Fraport AG Frankfurt Airport Services Worldwide Count EUR Infineon Technologies AG.... Count EUR LVMH Moet Hennessy Louis Vuitton SA.... Count EUR Ontex Group NV.... Count EUR Qiagen NV.... Count EUR TAG Immobilien AG... Count EUR Unilever NV.... Count EUR Aberdeen Asset Management Plc... Count GBP AstraZeneca Plc.... Count GBP InterContinental Hotels Group... Count GBP Rolls Royce Holdings Plc... Count GBP Rolls-Royce Holdings Plc.... Count GBP Royal Dutch Shell Plc -A-.... Count GBP SABMiller Plc.... Count GBP Standard Chartered Plc.... Count GBP Vodafone Group Plc.... Count GBP China Life Insurance Co., Ltd -H-... Count HKD China Overseas Land & Investment Ltd.... Count HKD HK Electric Investments and HK Electric Investments Ltd.... Count HKD Lenovo Group Ltd.... Count HKD Li Ning Co., Ltd.... Count HKD Ping An Insurance Group Co. of China Ltd.... Count HKD Sun Hung Kai Properties Ltd.... Count HKD OTP Bank Nyrt.... Count HUF Hyundai Engineering & Construction Co., Ltd... Count KRW Samsung Electronics Co., Ltd.... Count KRW Samsung Fire & Marine Insurance Co., Ltd.... Count KRW SM Investments Corp.... Count PHP Millicom International Cellular SA -SDR-.... Count SEK Telefonaktiebolaget LM Ericsson -B-... Count SEK Bangkok Bank PCL.... Count THB CP ALL PCL... Count THB Kasikornbank PCL.... Count THB Siam Commercial Bank PCL.... Count THB Adobe Systems, Inc... Count USD Alnylam Pharmaceuticals, Inc.... Count USD Aluminium Bahrain B.S.C. (Alba) -GDR-... Count USD Amazon.com, Inc..... Count USD Ambev SA -ADR-.... Count USD Apple, Inc... Count USD Artisan Partners Asset Management, Inc..... Count USD Axiall Corp.... Count USD Bank of America Corp.... Count USD Blackstone Group LP.... Count USD Braskem SA.... Count USD Calpine Corp... Count USD Celgene Corp..... Count USD Citigroup, Inc.... Count USD Citrix Systems, Inc... Count USD Credicorp Ltd.... Count USD CSX Corp.... Count USD Cubist Pharmaceuticals, Inc... Count USD Dow Chemical Co.... Count USD Energy Transfer Partners LP.... Count USD Estee Lauder Cos, Inc.... Count USD FedEx Corp.... Count USD Fibria Celulose SA -ADR-.... Count USD Freeport-McMoRan Copper & Gold, Inc. -B-.... Count USD Fresh Market, Inc... Count USD Global Telecom Holding -GDR-.... Count USD Gol Linhas Aereas Inteligentes SA -ADR-.... Count USD Goldman Sachs Group, Inc.... Count USD Harley-Davidson, Inc.... Count USD Home Inns & Hotels Management, Inc. -ADR-.... Count USD ICICI Bank Ltd -ADR-.... Count USD Irobot Corp... Count USD

177 DWS Invest Global Thematic Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period USD assets Isis Pharmaceuticals, Inc.... Count USD JP Morgan Chase & Co.... Count USD Kinder Morgan, Inc.... Count USD Laboratory Corp. of America Holdings... Count USD Lazard Ltd -A-... Count USD LUKOIL -ADR- -US... Count USD Lululemon Athletica, Inc.... Count USD Mead Johnson Nutrition Co.... Count USD Medidata Solutions, Inc.... Count USD Mindray Medical International Ltd -ADR-... Count USD Mondelez International, Inc.... Count USD Mosaic Co.... Count USD Navistar International Corp.... Count USD NCR Corp. -GDR-... Count USD Newmont Mining Corp.... Count USD Nike, Inc. -B-... Count USD NRG Energy, Inc.... Count USD Oracle Corp.... Count USD Panera Bread Co.... Count USD Peabody Energy Corp.... Count USD Potash Corp. of Saskatchewan, Inc.... Count USD Rock-Tenn Co. -A-... Count USD Sberbank of Russia -ADR-... Count USD Stanley Black & Decker, Inc.... Count USD Starwood Hotels & Resorts Worldwide, Inc.... Count USD Tesoro Corp.... Count USD Teva Pharmaceutical Industries Ltd -ADR-... Count USD Thermo Fisher Scientific, Inc.... Count USD Trulia, Inc.... Count USD Tumi Holdings, Inc.... Count USD UBS AG... Count USD Vale SA -ADR-... Count USD Valero Energy Corp.... Count USD Weyerhaeuser Co.... Count USD Yum! Brands, Inc.... Count USD Zillow, Inc.... Count USD Gold Fields Ltd... Count ZAR MTN Group Ltd... Count ZAR Shoprite Holdings Ltd... Count ZAR Certificates HSBC Bank Plc - Bharti Airtel... Count USD HSBC Bank Plc - Bharti Airtel... Count USD Total securities portfolio Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in other EU/EEA currencies British pound... GBP Swedish krona... SEK Deposits in non-eu/eea currencies Indian rupee... INR Canadian dollar... CAD Malaysian ringgit... MYR Philippine peso... PHP Swiss franc... CHF South Korean won... KRW U.S. dollar... USD Other assets Dividends receivable Receivables from exceeding the expense cap Other receivables Receivables from share certificate transactions Total assets Short-term liabilities Loans in other EU/EEA currencies Hungarian forint... HUF Loans in non-eu/eea currencies Hong Kong dollar... HKD

178 DWS Invest Global Thematic Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period USD assets Other liabilities Liabilities from cost items Additional other liabilities Liabilities from share certificate transactions Total liabilities Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class NC.... EUR Class GBP FC... GBP Class GBP RD.... GBP Class USD FC.... USD Class USD LC.... USD Number of shares outstanding Class FC... Count Class LC... Count Class NC.... Count Class GBP FC... Count Class GBP RD.... Count Class USD FC.... Count Class USD LC.... Count Composition of the reference portfolio (according to CSSF circular 11/512) MSCI THE WORLD INDEX Constituents USD 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 June 30, 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 0.1, whereby the total of the nominal amounts of the derivatives 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 USD as of the reporting date. Exchange rates (indirect quotes) As of June 30, Australian dollar.... AUD = USD 1 Brazilian real... BRL = USD 1 Canadian dollar... CAD = USD 1 Swiss franc.... CHF = USD 1 Euro... EUR = USD 1 British pound... GBP = USD 1 Hong Kong dollar... HKD = USD 1 Hungarian forint.... HUF = USD 1 Indian rupee.... INR = USD 1 South Korean won.... KRW = USD 1 Malaysian ringgit.... MYR = USD 1 Philippine peso... PHP = USD 1 Swedish krona.... SEK = USD 1 Thai baht.... THB = USD 1 South African rand.... ZAR = USD 1 Notes on 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. 176 Assets stated in this report are valued to a small extent at derived market values.

179 DWS Invest Global Thematic 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 Securities traded on an exchange Count/ units/ currency Purchases/ additions Sales/ disposals Equities AP Moeller - Maersk A/S.... Count 3 57 Ashland, Inc..... Count CF Industries Holdings, Inc.... Count Detour Gold Corp... Count Diagnosticos da America SA.... Count Embraer SA... Count Grupo Televisa SA -ADR-... Count Hyundai Motor Co.... Count Itau Unibanco Holding SA -ADR-.... Count Koninklijke KPN NV (MTN)... Count Magnit OJSC.... Count Raiffeisen Bank International AG... Count Raiffeisen International Bank Holding AG.... Count Royal Bank of Scotland Group Plc.... Count Telefonica Deutschland Holding AG.... Count Verizon Communications, Inc.... Count VF Corp.... Count Vodafone Group Plc.... Count VTB Bank OJSC -GDR Reg-... Count VTB Bank OJSC -Reg-.... Count Western Refining, Inc.... Count X 5 Retail Group NV -GDR-.... Count Certificates HSBC Bank Plc - Larsen & Toubro.... Count Derivatives (option premiums realized in opening transactions, or total options transactions; in the case of warrants, purchases and sales are shown) Warrants Warrants on securities Additions Disposals Equity warrants Sun Hung Kai Properties Ltd 22/04/2016 Count

180 DWS Invest Gold and Precious Metals Equities Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period USD assets Securities traded on an exchange Equities Independence Group NL... Count AUD Medusa Mining Ltd.... Count AUD Newcrest Mining Ltd.... Count AUD Regis Resources Ltd.... Count AUD Teranga Gold Corp..... Count AUD Agnico-Eagle Mines Ltd... Count CAD Argonaut Gold, Inc..... Count CAD AuRico Gold, Inc.... Count CAD B2Gold Corp... Count CAD Barrick Gold Corp... Count CAD Continental Gold Ltd.... Count CAD Detour Gold Corp... Count CAD Eldorado Gold Corp.... Count CAD Franco-Nevada Corp... Count CAD Goldcorp, Inc.... Count CAD New Gold, Inc.... Count CAD OceanaGold Corp.... Count CAD Osisko Gold Royalties Ltd.... Count CAD Pan American Silver Corp.... Count CAD Rubicon Minerals Corp. **.... Count CAD Silver Wheaton Corp.... Count CAD Tahoe Resources, Inc.... Count CAD Torex Gold Resources, Inc... Count CAD Yamana Gold, Inc... Count CAD Fresnillo Plc.... Count GBP Randgold Resources Ltd.... Count GBP Korea Zinc Co., Ltd.... Count KRW Cia de Minas Buenaventura SA -ADR-... Count USD Newmont Mining Corp.... Count USD Stillwater Mining Co.... Count USD Anglo American Platinum Ltd.... Count ZAR AngloGold Ashanti Ltd.... Count ZAR Gold Fields Ltd... Count ZAR Harmony Gold Mining Co., Ltd.... Count ZAR Impala Platinum Holdings Ltd.... Count ZAR Sibanye Gold Ltd... Count ZAR Investment fund units Non-group fund units ETFS Physical Palladium Shares (0.600%).... Units USD ETFS Physical Platinum Shares (0.600%).... Units USD ishares Gold Trust (0.250%).... Units USD ishares Silver Trust (0.500%).... Units USD Market Vectors Gold Miners ETF (0.500%)... Units USD SPDR Gold Trust (0.400%).... Units USD Total securities portfolio Derivatives (Minus signs denote short positions) Derivatives on individual securities Securities options Receivables/payables Equity options Call SPDR Gold Shares 07/ USD (OPQ).... Count Call SPDR Gold Shares 08/ USD (OPQ).... Count Call SPDR Gold Shares 09/ USD (OPQ).... Count Put SPDR Gold Shares 07/ USD (OPQ).... Count Put SPDR Gold Shares 08/ USD (OPQ).... Count Put SPDR Gold Shares 09/ USD (OPQ).... Count Cash at bank Demand deposits at Custodian EUR deposits.... EUR Deposits in other EU/EEA currencies British pound... GBP

181 DWS Invest Gold and Precious Metals Equities Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period USD assets Deposits in non-eu/eea currencies. Australian dollar.... AUD Hong Kong dollar... HKD Canadian dollar... CAD South African rand.... ZAR South Korean won.... KRW U.S. dollar.... USD Other assets Dividends receivable Receivables from exceeding the expense cap Other receivables Receivables from share certificate transactions Total assets Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class LD... EUR Class NC.... EUR Class USD FC.... USD Class USD LC.... USD Number of shares outstanding Class FC... Count Class LC... Count Class LD... Count Class NC.... Count Class USD FC.... Count Class USD LC.... Count Composition of the reference portfolio (according to CSSF circular 11/512) S&P - Gold & Precious Metals Mining 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 June 30, 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 0.1, whereby the total of the nominal amounts of the derivatives 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 USD as of the reporting date. Market abbreviations Contracting party for derivatives (with the exception of currency futures) OPQ = Options Price Reporting Authority BBO 179

182 DWS Invest Gold and Precious Metals Equities Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual Rubicon Minerals Corp. Count Total receivables from securities loans Contracting party for securities loans Barclays Capital Securities Limited Total collateral pledged by third parties for securities loans USD including: Equities USD Exchange rates (indirect quotes) As of June 30, 2014 Australian dollar... AUD = USD 1 Canadian dollar... CAD = USD 1 Euro... EUR = USD 1 British pound... GBP = USD 1 Hong Kong dollar... HKD = USD 1 South Korean won... KRW = USD 1 South African rand... ZAR = USD 1 Notes on 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. Assets reported in this report are not 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. Footnotes **) Some or all of these securities are lent. 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/ units/ currency Purchases/ additions Sales/ disposals Derivatives (option premiums realized in opening transactions, or total options transactions; in the case of warrants, purchases and sales are shown) Securities traded on an exchange Equities Kinross Gold Corp.... Count MMC Norilsk Nickel -ADR-... Count Osisko Mining Corp.... Count Polyus Gold International Ltd... Count Option contracts Securities options Value ( 000) Equity options Call options sold (Underlying: SPDR Gold Shares) USD 3 Put options sold (Underlying: SPDR Gold Shares) USD 2 Swaps Commodity swaps (Underlying: S&P Gold ER) USD

183 DWS Invest Government Liquidity Fund Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Interest-bearing securities 0.00 % Belgium Treasury Bill 2013/ EUR % % Belgium Treasury Bill 2013/2014 **... EUR % % Dutch Treasury Certificate 2014/ EUR % % France Treasury Bill BTF 2014/ EUR % % France Treasury Bill BTF 2014/ EUR % % France Treasury Bill BTF 2014/ EUR % % French Discount T-Bill 2014/ EUR % % French Discount T-Bill 2014/ EUR % % German Treasury Bill 2014/ EUR % % German Treasury Bill 2014/ EUR % % State of Hesse 2010/2014 *... EUR % % State of North Rhine-Westphalia 2010/2015 *... EUR % % State of Saxony-Anhalt 2012/2015 *... EUR % % UNEDIC Delegation AGS CGEA 2014/ EUR % Total securities portfolio Derivatives (Minus signs denote short positions) Currency derivatives Receivables/payables Currency futures (short) Closed positions EUR/USD 0.1 million Currency futures (long) Open positions USD/EUR 23 million Cash at bank Demand deposits at Custodian EUR deposits... EUR Time deposit EUR deposits (Agence Centrale des Organismes 0.00% p.a. 15/07/2014)... EUR EUR deposits (Region Nord-Pas-de-Calais 0.00% p.a. 11/08/2014)... EUR EUR deposits (Region Pays de la Loire 0.00% p.a. 11/07/2014)... EUR Other assets Interest receivable Receivables from exceeding the expense cap Receivables from share certificate transactions Total assets *** Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 181

184 DWS Invest Government Liquidity Fund 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 FC... EUR Class NC.... EUR Class ND.... EUR Class USD LCH.... USD Class USD LDH.... USD Number of shares outstanding Class FC... Count Class NC.... Count Class ND.... Count Class USD LCH.... Count Class USD LDH.... Count Composition of the reference portfolio (according to CSSF circular 11/512) Barclays Capital Euro-Aggregate: Government 1-3 Year in EUR Constituents 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 June 30, 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 0.0, whereby the total of the nominal amounts of the derivatives 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. Does not include any forward currency transactions entered into for currency hedging purposes at the level of the share classes. Market abbreviations Contracting party for currency futures State Street Bank and Trust Company Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual 0.00 % Belgium Treasury Bill 2013/2014 EUR Total receivables from securities loans Contracting party for securities loans UBS AG London Branch Total collateral pledged by third parties for securities loans EUR including: Equities EUR Exchange rates (indirect quotes) As of June 30, 2014 U.S. dollar.... USD = EUR 1 Notes on 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. Assets reported in this report are not valued at derived market values. Footnotes *) Floating interest rate. **) Some or all of these securities are lent. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 182

185 DWS Invest Government Liquidity Fund 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 Securities traded on an exchange Count/ units/ currency Purchases/ additions Sales/ disposals Interest-bearing securities 0.00 % Belgium Treasury Bill 2013/ EUR % Belgium Treasury Bill 2013/ EUR % Belgium Treasury Bill 2013/ EUR % Belgium Treasury Bill 2013/ EUR % Dutch Treasury Certificate 2013/ EUR % Erste Abwicklungsanstalt (MTN) 2004/ EUR % Erste Abwicklungsanstalt (MTN) 2012/ EUR % European Investment Bank (MTN) 2009/ EUR % France Treasury Bill BTF 2013/2014. EUR % France Treasury Bill BTF 2013/2014. EUR % France Treasury Bill BTF 2013/2014. EUR % France Treasury Bill BTF 2014/2014. EUR % Free State of Bavaria 2006/ EUR % State of Hesse 2008/ EUR % State of North Rhine-Westphalia 2010/ EUR % State of North Rhine-Westphalia (MTN) 2011/ EUR % State of Saxony-Anhalt (MTN) 2012/ EUR % Treasury Certificates 2013/ EUR 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 (short) Value ( 000) Futures contracts to sell currencies EUR/USD EUR Currency futures (long) Futures contracts to purchase currencies USD/EUR EUR Certificates 0.00 Belgium Treasury Bill 2013/ EUR France Treasury Bill BTF 2014/ EUR German Treasury Bill 2013/ EUR State of North Rhine-Westphalia 2010/2014 *... EUR

186 DWS Invest Income Strategy Systematic Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Interest-bearing securities % Atlantia SpA (MTN) 2009/ EUR % % Bank of America Corp. (MTN) 2009/ EUR % % Bank of America Corp. 2005/ EUR % % BBVA Senior Finance SA 2012/ EUR % % Bord Gais Eireann 2012/ EUR % % Carrefour SA 2012/ EUR % % Citigroup, Inc. (MTN) 2010/ EUR % % Commerzbank AG (MTN) 2012/ EUR % % Credit Suisse/London (MTN) 2010/ EUR % % Danske Bank A/S (MTN) 2011/ EUR % % Enel Finance International SA (MTN) 2009/ EUR % % Enel SpA 2010/ EUR % % Eni Spa 2011/ EUR % % Erste Group Bank AG (MTN) 2011/ EUR % % ESB Finance Ltd 2012/ EUR % % FCE Bank Plc (MTN) 2013/ EUR % % Gas Natural Capital Markets SA (MTN) 2012/2017. EUR % % Gaz Capital SA (MTN) 2007/ EUR % % Hutchison Whampoa International Ltd 2012/2017. EUR % % Iberdrola International BV 2012/ EUR % % Intesa Sanpaolo SpA (MTN) 2012/ EUR % % Lottomatica SpA 2009/ EUR % % Nykredit Realkredit A/S (MTN) 2010/ EUR % % QNB Finance Ltd 2013/2014 *... EUR % % RCI Banque SA 2012/ EUR % % Santander International Debt SAU 2012/ EUR % % Santander International Debt SAU 2012/ EUR % % Snam SpA (MTN) 2012/ EUR % % Snam SpA (MTN) 2013/ EUR % % Société Générale SA (MTN) 2012/ EUR % % Standard Chartered Plc (MTN) 2012/ EUR % % Telefonica Emisiones SAU 2012/ EUR % % UBS AG (MTN) 2012/ EUR % % UniCredit SpA 2012/ EUR % % WPP Plc (MTN) 2008/ EUR % % ABB Finance USA, Inc. 2012/ USD % % BP Capital Markets Plc 2012/ USD % % British Telecommunications Plc 2012/ USD % % CNPC General Capital Ltd -Reg- 2012/ USD % % Deutsche Bank AG 2011/ USD % % DNB Bank Asa -Reg- 2012/ USD % % Ginnie Mae I pool 1999/ USD % % Ginnie Mae I pool 1999/ USD % % Ginnie Mae I pool 1999/ USD % % Goldman Sachs Group, Inc. 2012/ USD % % JPMorgan Chase & Co. 2012/ USD % % Nomura Holdings, Inc. (MTN) 2013/ USD % % Royal Bank of Scotland Plc 2011/ USD % % Sinopec Group Overseas Development 2012 Ltd -Reg- 2012/ USD % % Swedbank AB 2012/ USD % Securities admitted to or included in organized markets Interest-bearing securities 3.80 % American International Group, Inc. 2012/ USD % % BNP Paribas 2012/ USD % % Credit Agricole SA -Reg- 2010/ USD % % Danske Bank A/S (MTN) -Reg- 2011/ USD % % Nordea Bank AB -Reg- 2012/ USD % % Petrobras Global Finance BV 2013/2016 *... USD % Unlisted securities Interest-bearing securities 4.25 % ABN Amro Bank NV -Reg- 2012/ USD % Total securities portfolio Derivatives (Minus signs denote short positions) Interest rate derivatives Receivables/payables Interest rate futures 3 Month Euribor Futures 12/ EUR (LIF)... Count

187 DWS Invest Income Strategy Systematic Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Currency derivatives Receivables/payables Currency futures (short) Open positions EUR/USD 34.3 million Swaps Receivables/payables Interest rate swaps 3M Euribor / 5.68% 18/03/2024 (OTC) (DB)... Count M Libor / 2.867% 03/04/2024 (OTC) (SG)... Count M Euribor / % 03/04/2024 (OTC) (SG)... Count M Euribor / 5.68% 14/03/2024 (OTC) (DB)... Count M Libor / 0.801% 03/04/2024 (OTC) (SG)... Count M Libor / 2.81% 03/04/2024 (OTC) (SG)... Count Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in other EU/EEA currencies British pound... GBP Deposits in non-eu/eea currencies Australian dollar... AUD Japanese yen... JPY Canadian dollar... CAD Swiss franc... CHF U.S. dollar... USD Other assets Interest receivable Receivables from exceeding the expense cap Receivables from share certificate transactions Total assets *** Other liabilities Liabilities from cost items Additional other liabilities Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class LD... EUR Class NC... EUR Number of shares outstanding Class FC... Count Class LC... Count Class LD... Count Class NC... Count Composition of the reference portfolio (according to CSSF circular 11/512) 4.0% of portfolio value Market risk exposure (value-at-risk) (according to CSSF circular 11/512) Lowest market risk exposure... % Highest market risk exposure... % Average market risk exposure... %

188 DWS Invest Income Strategy Systematic The values-at-risk were calculated for the period from January 1, 2014, through June 30, 2014, using historical simulation with a 99% confidence level, a 10-day holding period and an effective historical observation period of one year. 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 absolute 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 0.9, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Total collateral pledged by third parties in connection with derivatives EUR including: Cash at bank EUR Market abbreviations Futures exchanges LIF = NYSE Liffe London Contracting parties for derivatives (with the exception of currency futures) DB = Deutsche Bank AG SG = Société Générale Contracting party for currency futures Deutsche Bank AG Frankfurt Exchange rates (indirect quotes) As of June 30, 2014 Australian dollar... AUD = EUR 1 Canadian dollar... CAD = EUR 1 Swiss franc... CHF = EUR 1 British pound... GBP = EUR 1 Japanese yen... JPY = EUR 1 New Zealand dollar... NZD = EUR 1 U.S. dollar... USD = EUR 1 Notes on 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. Assets reported in this report are not valued at derived market values. Footnotes *) Floating interest rate. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 186

189 DWS Invest Income Strategy Systematic 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 Stück bzw. Purchases Verkäuf Description Anteile bzw. bzw. bzw. Währung Additions Disposals Securities traded on an exchange Interest-bearing securities 5.00 % Autostrade SpA (MTN) 2004/ EUR % BPCE SA (MTN) 2010/ EUR % Cooperatieve Centrale Raiffeisen- Boerenleenbank BA (MTN) 2011/2014 EUR % Credit Agricole SA (MTN) 2011/2016. EUR % Münchener Hypothekenbank 2012/ EUR % RCI Banque SA 2013/ EUR % Royal Bank of Scotland Plc (MTN) 2011/ EUR % Royal Bank of Scotland Plc 2009/2014 EUR % Santander Consumer Finance 2012/ EUR % Société Générale (MTN) 2011/2016. EUR % Volkswagen Bank GmbH (MTN) 2011/ EUR % Barclays Bank Plc 2012/ USD % Citigroup, Inc. 2012/ USD % Royal Bank of Scotland Plc 2012/ 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 (short) Value ( 000) Futures contracts to sell currencies EUR/USD EUR Currency futures (long) Futures contracts to purchase currencies USD/EUR EUR Swaps Interest rate swaps (Underlyings: Swap AUD Libor, Swap CHF Libor, Swap EUR Libor, Swap GBP Libor, Swap JPY Libor, Swap NZD Libor, Swap USD Libor) EUR Securities admitted to or included in organized markets Interest-bearing securities 0.00 % BNP Paribas SA 2011/ USD % ING Bank NV -Reg- 2012/ USD

190 DWS Invest Italian Equities Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities A2A SpA... Count EUR Anima Holding SpA.... Count EUR Ansaldo STS SpA.... Count EUR Assicurazioni Generali SpA.... Count EUR Azimut Holding SpA... Count EUR Banca Popolare dell Emilia Romagna SC -Rights Exp 20Jun14 Count EUR Banca Popolare dell Emilia Romagna Scrl.... Count EUR Banca Popolare di Milano SCRL.... Count EUR Banco Popolare SC.... Count EUR Brunello Cucinelli SpA... Count EUR Buzzi Unicem SpA.... Count EUR CNH Industrial NV... Count EUR Enel Green Power SpA.... Count EUR Enel SpA **.... Count EUR ENI SpA.... Count EUR Fondiaria-Sai SpA... Count EUR Hera SpA.... Count EUR Interpump Group SpA.... Count EUR Intesa Sanpaolo SpA.... Count EUR Luxottica Group SpA.... Count EUR MARR SpA... Count EUR Mediaset SpA.... Count EUR Mediobanca SpA.... Count EUR Mediolanum SpA.... Count EUR Moncler SpA.... Count EUR Pirelli & Co. SpA... Count EUR Prysmian SpA... Count EUR Salvatore Ferragamo Italia SpA.... Count EUR Snam Rete Gas SpA.... Count EUR Sorin SpA.... Count EUR Telecom Italia SpA.... Count EUR UniCredit SpA.... Count EUR Unipol Gruppo Finanziario SpA.... Count EUR Yoox SpA.... Count EUR Total securities portfolio Derivatives (Minus signs denote short positions) Equity index derivatives Receivables/payables. Equity index futures FTSE MIB Index 09/ EUR (XDMI)... Count Cash at bank Demand deposits at Custodian EUR deposits.... EUR Deposits in other EU/EEA currencies British pound... GBP Deposits in non-eu/eea currencies. Hong Kong dollar... HKD U.S. dollar.... USD Other assets Dividends receivable Receivables from exceeding the expense cap Receivables from share certificate transactions Total assets *** Other liabilities Liabilities from cost items Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 188

191 DWS Invest Italian Equities 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 FC... EUR Class LC... EUR Class NC.... EUR Number of shares outstanding Class FC... Count Class LC... Count Class NC.... Count Composition of the reference portfolio (according to CSSF circular 11/512) FTSE MIB Italy in EUR Constituents 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 June 30, 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 0.1, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Market abbreviations Futures exchanges XDMI = Italian Derivatives Market Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual Enel SpA Count Total receivables from securities loans Contracting party for securities loans UBS AG London Branch Total collateral pledged by third parties for securities loans EUR including: Equities EUR Exchange rates (indirect quotes) As of June 30, British pound... GBP = EUR 1 Hong Kong dollar... HKD = EUR 1 U.S. dollar.... USD = EUR 1 Notes on 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. Assets reported in this report are not valued at derived market values. Footnotes **) Some or all of these securities are lent. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 189

192 DWS Invest Italian Equities 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/ units/ currency Purchases/ additions Sales/ disposals Securities traded on an exchange Equities Astaldi SpA... Count Autogrill SpA.... Count Lottomatica SpA.... Count STMicroelectronics NV.... Count 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) Equity index futures Contracts sold (Underlying: FTSE MIB) EUR

193 DWS Invest Latin American Equities Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Ambev SA.... Count BRL B2W Cia Digital.... Count BRL B2W Cia Digital -Rights Exp 06Jun Count BRL Banco Bradesco SA -Pref-.... Count BRL Banco do Brasil SA.... Count BRL BB Seguridade Participacoes... Count BRL BM&FBOVESPA SA... Count BRL Brazil Pharma SA.... Count BRL BRF - Brasil Foods SA.... Count BRL Centrais Eletricas Brasileiras SA.... Count BRL Cia Brasileira de Distribuicao Grupo Pao de Acucar.... Count BRL Cia Energetica de Minas Gerais -Pref-... Count BRL Cia Energetica de Sao Paulo -Pref B-... Count BRL Cielo SA.... Count BRL CPFL Energia SA.... Count BRL EDP - Energias do Brasil SA.... Count BRL Gafisa SA.... Count BRL Hypermarcas SA.... Count BRL Investimentos Itau SA -Pref-.... Count BRL Itau Unibanco Holding SA -Pref-.... Count BRL Lojas Americanas SA -Pref-.... Count BRL Petroleo Brasileiro SA.... Count BRL Petroleo Brasileiro SA -Pref-.... Count BRL Raia Drogasil SA.... Count BRL Tim Participacoes SA.... Count BRL Cencosud SA.... Count CLP CFR Pharmaceuticals SA.... Count CLP Corpbanca SA.... Count CLP Almacenes Exito SA.... Count COP Grupo de Inversiones Suramericana -Pref-.... Count COP Grupo de Inversiones Suramericana SA.... Count COP Banco Bilbao Vizcaya Argentaria SA.... Count EUR Mapfre SA.... Count EUR Prosegur Cia de Seguridad SA.... Count EUR Corporativo Fragua SAB de CV.... Count MXN Fomento Economico Mexicano SAB de CV.... Count MXN Gruma SAB de CV.... Count MXN Grupo Herdez SAB de CV.... Count MXN Anheuser-Busch InBev NV -ADR-.... Count USD Banco Santander Chile... Count USD Bancolombia SA -ADR-.... Count USD BBVA Banco Frances SA -ADR-... Count USD Corpbanca SA -ADR-.... Count USD Credicorp Ltd.... Count USD Empresa Nacional de Electricidad SA.... Count USD Enersis SA -ADR-.... Count USD First Cash Financial Services, Inc.... Count USD Fomento Economico Mexicano SA de CV -ADR-.... Count USD Grana y Montero SA -ADR-.... Count USD Grupo Clarin SA -GDR-... Count USD Grupo Financiero Galicia SA -ADR-.... Count USD Grupo Televisa SA -ADR-... Count USD InRetail Peru Corp.... Count USD Petroleo Brasileiro SA -ADR-.... Count USD Popular, Inc.... Count USD YPF SA -ADR-.... Count USD Interest-bearing securities % Kreditanstalt fuer Wiederaufbau (MTN) 2012/2019. EUR % Total securities portfolio Cash at bank Demand deposits at Custodian EUR deposits.... EUR Deposits in non-eu/eea currencies Brazilian real... BRL Chilean peso.... CLP Colombian peso.... COP Mexican peso... MXN Peruvian nuevo sol... PEN U.S. dollar.... USD Other assets Dividends receivable Interest receivable Receivables from exceeding the expense cap

194 DWS Invest Latin American Equities Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Receivables from share certificate transactions Total assets Other liabilities Liabilities from cost items Liabilities from share certificate transactions Total liabilities Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class NC.... EUR Class USD LC.... USD Number of shares outstanding Class FC... Count Class LC... Count Class NC.... Count Class USD LC.... Count 593 Composition of the reference portfolio (according to CSSF circular 11/512) MSCI EM Latin America10/40 Index in EUR Constituents 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 June 30, 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 0.0, whereby the total of the nominal amounts of the derivatives 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. Exchange rates (indirect quotes) As of June 30, 2014 Brazilian real... BRL = EUR 1 Chilean peso.... CLP = EUR 1 Colombian peso.... COP = EUR 1 Mexican peso... MXN = EUR 1 Peruvian nuevo sol... PEN = EUR 1 U.S. dollar.... USD = EUR 1 Notes on 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. Assets reported in this report are not valued at derived market values. 192

195 DWS Invest Latin American Equities 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/ units/ currency Purchases/ additions Sales/ disposals Securities traded on an exchange Equities Ambev SA -Rights Exp 27May Count Banco de Chile... Count Banco Santander Brasil SA.... Count Banco Santander SA -ADR-.... Count BR Malls Participacoes SA... Count Brasil Pharma SA -Rights Exp 06Jun14... Count Cemex SAB-SPONS de CV -ADR-.... Count Cia Siderurgica Nacional SA... Count Compartamos SAB de CV.... Count Compartamos SAB de CV.... Count Edenred... Count Grupo Carso SAB de CV.... Count Grupo de Inversiones Suramericana SA.... Count Grupo Financiero Inbursa SA.... Count Grupo Lala SAB de CV... Count Grupo Mexico SAB de CV -B-.... Count Itausa - Investimentos Itau SA... Count Itausa -Rights Exp 26Mar Count Natura Cosmeticos SA... Count Petroleo Brasileiro SA -ADR-.... Count Telefonica Brasil SA.... Count Tenaris SA -ADR-.... Count Usinas Siderurgicas de Minas Gerais SA -Pref A-.... Count Vale SA.... Count Vale SA.... Count

196 DWS Invest Local Emerging Markets Bonds Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period USD assets Securities traded on an exchange Interest-bearing securities % Brazil Notas do Tesouro Nacional Serie F 2010/2021 BRL % % Indonesia Treasury Bond 2011/ IDR % % Indonesia Treasury Bond 2011/ IDR % % Mexican Bonos 2012/ MXN % % Peruvian Government International Bond 2011/2020 PEN % % Poland Government Bond 2008/ PLN % % Poland Government Bond 2012/ PLN % % Romania Government Bond 2012/ RON % % Gazprombank OJSC 2012/ RUB % % Russian Agricultural Bank OJSC 2012/ RUB % % Russian Railways via RZD Capital Plc -Reg- 2012/ RUB % % Thailand Government Bond 2010/ THB % % Turkey Government Bond 2010/ TRY % % Turkey Government Bond 2012/ TRY % % Turkey Government Bond 2012/ TRY % % South Africa Government Bond 2005/ ZAR % % South Africa Government Bond 2006/ ZAR % % South Africa Government Bond 2012/ ZAR % Unlisted securities Interest-bearing securities % Malaysia Government Bond 2009/ MYR % % Malaysia Government Bond 2011/ MYR % Total securities portfolio Derivatives (Minus signs denote short positions) Currency derivatives Receivables/payables Currency futures (short) Open positions USD/BRL 2 million USD/RUB 15 million Closed positions USD/EUR 0.1 million USD/TRY 1 million USD/ZAR 10 million Currency futures (long) Open positions EUR/USD 7 million HUF/USD 50 million PLN/USD 1 million Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in other EU/EEA currencies Romanian leu (new)... RON Polish zloty... PLN Hungarian forint... HUF Deposits in non-eu/eea currencies Brazilian real... BRL Indonesian rupiah... IDR Malaysian ringgit... MYR Mexican peso... MXN Philippine peso... PHP South African rand... ZAR Thai baht... THB Turkish lira... TRY U.S. dollar... USD

197 DWS Invest Local Emerging Markets Bonds Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period USD assets. Other assets Interest receivable Receivables from exceeding the expense cap Receivables from share certificate transactions Total assets *** Short-term liabilities Loans in non-eu/eea currencies Russian rouble.... RUB Other liabilities Additional other liabilities Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FCH.... EUR Class LCH.... EUR Class LDH.... EUR Class NCH.... EUR Class NDH.... EUR Number of shares outstanding Class FCH.... Count Class LCH.... Count Class LDH.... Count 449 Class NCH.... Count Class NDH.... Count 274 Composition of the reference portfolio (according to CSSF circular 11/512) JPM GBI-EM Global Div Composite Index Constituents 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 June 30, 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 0.1, whereby the total of the nominal amounts of the derivatives 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 USD as of the reporting date. Does not include any forward currency transactions entered into for currency hedging purposes at the level of the share classes. Market abbreviations Contracting parties for currency futures Citibank N.A., Credit Suisse London Branch (GFX), State Street Bank and Trust Company and Société Générale 195

198 DWS Invest Local Emerging Markets Bonds Exchange rates (indirect quotes) As of June 30, 2014 Brazilian real... BRL = USD 1 Euro... EUR = USD 1 Hungarian forint.... HUF = USD 1 Indonesian rupiah... IDR = USD 1 Mexican peso... MXN = USD 1 Malaysian ringgit.... MYR = USD 1 Peruvian nuevo sol... PEN = USD 1 Philippine peso... PHP = USD 1 Polish zloty... PLN = USD 1 Romanian leu (new).... RON = USD 1 Russian rouble.... RUB = USD 1 Thai baht.... THB = USD 1 Turkish lira.... TRY = USD 1 South African rand.... ZAR = USD 1 Notes on 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. Assets reported in this report are not valued at derived market values. Footnotes ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 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 Securities traded on an exchange Count/ units/ currency Purchases/ additions Sales/ disposals Interest-bearing securities 0.00 % Brazil Letras do Tesouro Nacional 2012/ BRL % Brazil Notas do Tesouro Nacional Serie F 2007/ BRL % European Bank for Reconstruction & Development (MTN) 2011/ BRL % Colombia Government International Bond 2010/ COP % Hungary Government Bond 2006/2017 HUF % Hungary Government Bond 2008/2019 HUF % Hungary Government Bond 2011/2022 HUF % Mexican Bonos 2010/ MXN % Poland Government Bond 2004/2015. PLN % Thailand Government Bond 2011/2017 THB % Turkey Government Bond 2010/2015. TRY 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 (short) Value ( 000) Futures contracts to sell currencies EUR/PLN USD 88 USD/BRL USD USD/CLP USD USD/EUR USD USD/HUF USD 222 USD/IDR USD USD/MXN USD 416 USD/MYR USD 453 USD/PLN USD 812 USD/RUB USD USD/THB USD 867 USD/TRY USD USD/ZAR USD Currency futures (long) Futures contracts to purchase currencies BRL/USD USD CLP/USD USD EUR/USD USD HUF/USD USD 219 IDR/USD USD MXN/USD USD 857 MYR/USD USD 453 PLN/EUR USD 88 PLN/USD USD RON/USD USD 302 RUB/USD USD THB/USD USD 856 TRY/USD USD ZAR/USD USD

199 DWS Invest Multi Asset Allocation Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Interest-bearing securities 4.00 % Aabar Investments PJSC -Reg- 2011/ EUR % % Adidas AG 2012/ EUR % % Banco Bilbao Vizcaya Argentaria SA 2009/ EUR % % Banco Santander SA 2010/ EUR % % Bankinter SA (MTN) 2013/ EUR % % Banque Federative du Credit Mutuel SA (MTN) 2014/ EUR % % Bundesrepublik Deutschland 2004/ EUR % % Bundesrepublik Deutschland 2005/ EUR % % Eni SpA 2013/ EUR % % ENI SpA (MTN) 2012/ EUR % % ESB Finance Ltd 2012/ EUR % % Gazprom OAO (MTN) -Reg- 2012/ EUR % % Goldman Sachs Group, Inc. (MTN) 2005/2015 *.. EUR % % Hutchison Whampoa Finance Ltd 2005/ EUR % % Imperial Tobacco Finance Plc (MTN) 2011/ EUR % % IPIC GMTN Ltd 2012/ EUR % % Italy Buoni Poliennali del Tesoro 2005/ EUR % % Italy Buoni Poliennali del Tesoro 2010/ EUR % % Italy Buoni Poliennali del Tesoro 2011/ EUR % % Italy Buoni Poliennali Del Tesoro 2012/ EUR % % Italy Buoni Poliennali Del Tesoro 2012/ EUR % % JPMorgan Chase & Co. (MTN) 2012/ EUR % % Lloyds TSB Bank Plc (MTN) 2012/ EUR % % MNV Zrt 2013/ EUR % % OMV AG 2012/ EUR % % PPR SA (MTN) 2012/ EUR % % Republic of Finland 2004/ EUR % % Royal Bank of Scotland Group Plc (MTN) 2012/2015 EUR % % SES SA (MTN) 2011/ EUR % % Snam SpA 2012/ EUR % % Société Générale Effekten GmbH 2014/ EUR % % Spain Government Bond 1998/ EUR % % Spain Government Bond 2005/ EUR % % Spain Government Bond 2012/ EUR % % Spain Government Bond 2013/ EUR % % Svenska Handelsbanken -Reg- 2012/ EUR % % Tele Danmark AS (MTN) 2011/ EUR % % Telefonica Emisiones SAU (MTN) 2013/ EUR % % Wells Fargo & Co. (MTN) 2012/ EUR % % Wolters Kluwer NV 2013/ EUR % % National Bank of Abu Dhabi 2013/ USD % % Siemens Financieringsmaatschappij NV -Reg- 2012/ USD % Investment fund units In-group fund units db x-trackers II - EONIA Total Return Index ETF (0.050%)... Units EUR DWS Convertibles (0.600%)... Units EUR Non-group fund units AXA IM Fixed Income Investment Strategies - US Short Duration High Yield (0.700%)... Units USD ishares JP Morgan $ Emerging Markets Bond UCITS ETF (0.450%)... Units USD Neuberger Berman High Yield Bond Fund/Ireland (0.600%). Units USD Total securities portfolio Derivatives (Minus signs denote short positions) Derivatives on individual securities Warrants on securities Equity warrants Deutsche Bank AG 19/12/ Count 2 EUR Merrill Lynch International & Co. CV 16/12/ Count EUR

200 DWS Invest Multi Asset Allocation Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Equity index derivatives Receivables/payables Equity index futures DJ EURO STOXX 50 Index Futures 09/ EUR (XEUR)... Count MSCI Emerging Market 09/ USD (IFUS)... Count S & P MINI 500 Futures 09/ USD (CME)... Count Topix Index 09/ JPY (OSE)... Count Option contracts Options on equity indices Call Euro Stoxx 50 Index 12/ EUR (XEUR)... Count Call S&P 500 Index 07/ USD (OPQ)... Count Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in other EU/EEA currencies British pound... GBP Danish krone... DKK Norwegian krone... NOK Swedish krona... SEK Deposits in non-eu/eea currencies Hong Kong dollar... HKD Japanese yen... JPY New Zealand dollar... NZD Swiss franc... CHF Singapore dollar... SGD U.S. dollar... USD Other assets Dividends receivable Interest receivable Receivables from exceeding the expense cap Receivables from share certificate transactions Total assets *** Other liabilities Liabilities from cost items Additional other liabilities Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class LD... EUR Class NC... EUR Number of shares outstanding Class FC... Count 105 Class LC... Count Class LD... Count Class NC... Count

201 DWS Invest Multi Asset Allocation Composition of the reference portfolio (according to CSSF circular 11/512) 50% STOXX 600 Constituents, 50% MSCI EM (EMERGING MARKETS) Constituents 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 June 30, 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 0.7, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Market abbreviations Futures exchanges CME = Chicago Mercantile Exchange IFUS = Ice Futures U.S. OPQ = Options Price Reporting Authority BBO OSE = Osaka Securities Exchange XEUR = Eurex Exchange rates (indirect quotes) As of June 30, Swiss franc.... CHF = EUR 1 Danish krone.... DKK = EUR 1 British pound... GBP = EUR 1 Hong Kong dollar... HKD = EUR 1 Japanese yen... JPY = EUR 1 Norwegian krone.... NOK = EUR 1 New Zealand dollar.... NZD = EUR 1 Swedish krona.... SEK = EUR 1 Singapore dollar... SGD = EUR 1 U.S. dollar.... USD = EUR 1 Notes on 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. Assets stated in this report are not 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. Footnotes *) Floating interest rate. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 199

202 DWS Invest Multi Asset Allocation 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/ units/ currency Purchases/ additions Sales/ disposals Derivatives (option premiums realized in opening transactions, or total options transactions; in the case of warrants, purchases and sales are shown) Securities traded on an exchange Interest-bearing securities 4.25 % Bankia SA 2007/ EUR % Bankia SA 2012/ EUR % Hellenic Republic Treasury Bills 2013/ EUR % Holcim Finance Luxembourg SA (MTN) 2009/ EUR % Rio Tinto Finance Ltd 2012/ EUR Investment fund units In-group fund units db x-trackers Russell 2000 UCITS ETF USA (0.300%)... Units Non-group fund units ishares STOXX Europe Small 200 DE (0.200%).. Units UBAM - Euro Convertible Bond (0.600%). Units Futures contracts Value ( 000) Equity index futures Contracts sold (Underlyings: DJ Euro Stoxx 50, MSCI Emerging Market, S&P 500, Topix) EUR Currency futures (long) Futures contracts to purchase currencies USD/EUR EUR Option contracts Options on equity index derivatives Options on equity indices Put options sold (Underlying: DJ Euro Stoxx 50) EUR 3 Swaps Credit default swaps Protection buyer (Underlying: ITRAXX Europe) EUR

203 DWS Invest Multi Asset Balance (formerly: DWS Invest Multi Asset Defensive) Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Woodside Petroleum Ltd... Count AUD Canadian Imperial Bank of Commerce.... Count CAD Canadian Natural Resources Ltd.... Count CAD Suncor Energy, Inc... Count CAD Toronto-Dominion Bank.... Count CAD Givaudan SA -Reg-.... Count CHF Roche Holding AG.... Count CHF AP Moeller - Maersk A/S.... Count DKK Allianz SE -Reg-.... Count EUR Anheuser-Busch InBev NV.... Count EUR AXA SA.... Count EUR Casino Guichard Perrachon SA.... Count EUR Continental AG... Count EUR Daimler AG... Count EUR Deutsche Lufthansa AG -Reg-.... Count EUR Deutsche Telekom AG -Reg-.... Count EUR Enel SpA.... Count EUR Fresenius SE & Co. KGaA.... Count EUR GDF Suez... Count EUR Infineon Technologies AG.... Count EUR Koninklijke Ahold NV.... Count EUR Muenchener Rueckversicherungs AG -Reg-.... Count EUR Red Electrica Corp. SA... Count EUR Sanofi.... Count EUR Société Générale.... Count EUR Total SA.... Count EUR TUI AG.... Count EUR Vinci SA.... Count EUR Aviva Plc... Count GBP BHP Billiton Plc.... Count GBP BT Group Plc.... Count GBP Hikma Pharmaceuticals Plc.... Count GBP Next Plc.... Count GBP Old Mutual Plc.... Count GBP Royal Dutch Shell Plc -B-.... Count GBP Central Japan Railway Co.... Count JPY Fuji Heavy Industries Ltd.... Count JPY Kao Corp.... Count JPY Komatsu Ltd... Count JPY Nippon Telegraph & Telephone Corp.... Count JPY Statoil ASA... Count NOK Investor AB.... Count SEK Nordea Bank AB.... Count SEK Skanska AB.... Count SEK ACE Ltd.... Count USD Aetna, Inc... Count USD Ameriprise Financial, Inc.... Count USD Apple, Inc... Count USD Archer-Daniels-Midland Co.... Count USD Boeing Co.... Count USD Capital One Financial Corp... Count USD Cardinal Health, Inc.... Count USD Caterpillar, Inc.... Count USD CF Industries Holdings, Inc.... Count USD Cisco Systems, Inc.... Count USD Comcast Corp.... Count USD ConocoPhillips.... Count USD Constellation Brands, Inc..... Count USD Corning, Inc.... Count USD CVS Caremark Corp..... Count USD Discover Financial Services.... Count USD Dow Chemical Co.... Count USD Gilead Sciences, Inc... Count USD Halliburton Co.... Count USD Humana, Inc... Count USD Johnson & Johnson.... Count USD Kroger Co... Count USD Las Vegas Sands Corp... Count USD LyondellBasell Industries NV.... Count USD Macy s, Inc... Count USD Micron Technology, Inc..... Count USD Microsoft Corp... Count USD Northrop Grumman Corp..... Count USD Oracle Corp.... Count USD Principal Financial Group, Inc... Count USD Schlumberger Ltd.... Count USD TE Connectivity Ltd.... Count USD Thermo Fisher Scientific, Inc..... Count USD Valero Energy Corp.... Count USD Western Digital Corp..... Count USD

204 DWS Invest Multi Asset Balance (formerly: DWS Invest Multi Asset Defensive) Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Interest-bearing securities 1.75 % Anglo American Capital Plc (MTN) 2014/ EUR % % Banque Federative du Credit Mutuel SA (MTN) 2014/ EUR % % Belgium Government Bond 2002/ EUR % % Bundesobligation 2012/ EUR % % Bundesrepublik Deutschland 2006/ EUR % % Casino Guichard Perrachon SA (MTN) 2012/2019. EUR % % Commerzbank AG (MTN) 2012/ EUR % % Eutelsat SA 2013/ EUR % % French Treasury Note BTAN 2011/ EUR % % Imperial Tobacco Finance Plc (MTN) 2011/ EUR % % IPIC GMTN Ltd 2012/ EUR % % Italy Buoni Poliennali del Tesoro 2002/ EUR % % Italy Government International Bond (MTN) 2001/ EUR % % JPMorgan Chase & Co. (MTN) 2012/ EUR % % Korea Gas Corp. 2013/ EUR % % Portugal Obrigacoes do Tesouro OT 2009/ EUR % % Raiffeisen Bank International AG (MTN) 2013/2018. EUR % % SES SA (MTN) 2011/ EUR % % Spain Government Bond 2002/ EUR % % Spain Government Bond 2011/ EUR % % Wells Fargo & Co. (MTN) 2012/ EUR % Investment fund units Non-group fund units ishares Dow Jones-UBS Commodity Swap UCITS ETF (DE) (0.460%)... Units EUR ishares Euro High Yield Corporate Bond UCITS ETF (0.500%)... Units EUR Pictet - Emerging Local Currency Debt (0.600%)... Units EUR ishares JP Morgan $ Emerging Markets Bond UCITS ETF (0.450%)... Units USD Total securities portfolio Derivatives (Minus signs denote short positions) Equity index derivatives Receivables/payables Equity index futures MSCI Emerging Market 09/ USD (IFUS)... Count Nikkei 225 Futures 09/ JPY (OSE)... Count S & P MINI 500 Futures 09/ USD (CME)... Count Currency derivatives Receivables/payables Currency futures (short) Open positions EUR/CAD 0.3 million EUR/CHF 0.1 million EUR/GBP 0.3 million EUR/JPY 42.9 million EUR/SEK 1.6 million Currency futures (long) Open positions USD/EUR 0.9 million Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in other EU/EEA currencies British pound... GBP

205 DWS Invest Multi Asset Balance (formerly: DWS Invest Multi Asset Defensive) Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Deposits in non-eu/eea currencies Japanese yen... JPY Canadian dollar... CAD Swiss franc.... CHF U.S. dollar.... USD Other assets Dividends receivable Interest receivable Receivables from exceeding the expense cap Total assets *** Other liabilities Liabilities from cost items Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 LC... EUR Number of shares outstanding Class LC... Count Composition of the reference portfolio (according to CSSF circular 11/512) 3.75% of portfolio value (January 31, May 25, 2014), 50% iboxx EUR Overall - Constituents, 50% MSCI THE WORLD INDEX in EUR Constituents (May 26, June 30, 2014) 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 31, 2014, through June 30, 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 0.1, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Market abbreviations Futures exchanges CME = Chicago Mercantile Exchange IFUS = Ice Futures U.S. OSE = Osaka Securities Exchange Contracting parties for currency futures Deutsche Bank AG Frankfurt and Morgan Stanley and Co. International Plc. Exchange rates (indirect quotes) As of June 30, 2014 Australian dollar.... AUD = EUR 1 Canadian dollar... CAD = EUR 1 Swiss franc.... CHF = EUR 1 Danish krone.... DKK = EUR 1 British pound... GBP = EUR 1 Japanese yen... JPY = EUR 1 Norwegian krone.... NOK = EUR 1 Swedish krona.... SEK = EUR 1 U.S. dollar.... USD = EUR 1 203

206 DWS Invest Multi Asset Balance (formerly: DWS Invest Multi Asset Defensive) Notes on 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. Assets reported in this report are not 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. Footnotes ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 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 Securities traded on an exchange Count/ units/ currency Purchases/ additions Sales/ disposals Interest-bearing securities % Anglo American Capital Plc 2009/ EUR % Italy Buoni Poliennali del Tesoro 2008/ EUR % Spain Government Bond 2014/2019. EUR Investment fund units In-group fund units db x-trackers - DJ EURO STOXX 50 ETF (0.000%)... Units db x-trackers - S&P 500 ETF (0.050%)... Units db x-trackers FTSE 100 UCITS ETF DR Income - 1D (0.200%)... Units db x-trackers II iboxx Sovereigns Eurozone 3-5 UCITS ETF (0.000%)... Units db x-trackers MSCI AC Asia ex Japan TRN Index UCITS ETF (0.450%)... Units db x-trackers Russell 2000 UCITS ETF USA (0.300%)... Units db x-trackers SMI UCITS ETF DR (0.200%)... Units Deka EURO STOXX 50 UCITS ETF (0.150%)... Units Non-group fund units Amundi ETF Japan Topix Eur Hedged Daily UCITS ETF (0.480%)... Units ishares Euro Corporate Bond Large Cap UCITS ETF (0.200%)... Units ishares Euro Government Bond 3-5yr UCITS ETF (0.200%)... Units ishares EURO STOXX 50 UCITS ETF (DE) (0.150%)... Units ishares S&P 500 Index Fund (0.400%)... Units ishares STOXX Europe Small 200 DE (0.200%). Units SOURCE S&P 500 UCITS ETF (0.200%)... Units UBS ETF-MSCI EMU UCITS ETF (0.230%)... Units 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) Equity index futures Contracts purchased (Underlying: DJ Euro Stoxx 50) EUR 194 Contracts sold (Underlyings: DJ Euro Stoxx 50, MSCI Emerging Market, S&P 500) EUR 640 Interest rate futures Contracts purchased (Underlying: EURO BUND) EUR 575 Currency futures (short) Futures contracts to sell currencies EUR/CHF EUR 400 EUR/GBP EUR 800 EUR/USD EUR 544 Currency futures (long) Futures contracts to purchase currencies CHF/EUR EUR 400 GBP/EUR EUR 800 USD/EUR EUR

207 DWS Invest Multi Asset Defensive Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Macquarie Group Ltd.... Count AUD Woodside Petroleum Ltd... Count AUD Canadian Natural Resources Ltd.... Count CAD EnCana Corp.... Count CAD Sun Life Financial, Inc.... Count CAD Adecco SA -Reg-.... Count CHF Givaudan SA -Reg-.... Count CHF Roche Holding AG.... Count CHF AP Moeller - Maersk A/S.... Count 9 9 DKK Danske Bank A/S.... Count DKK Novo Nordisk A/S... Count DKK Anheuser-Busch InBev NV.... Count EUR Assicurazioni Generali SpA.... Count EUR Banco Santander SA.... Count EUR BASF SE... Count EUR Cap Gemini SA... Count EUR Continental AG... Count EUR Credit Agricole SA.... Count EUR Daimler AG... Count EUR Deutsche Post AG -Reg-.... Count EUR Deutsche Telekom AG -Reg-.... Count EUR European Aeronautic Defence and Space Co. NV... Count EUR GDF Suez... Count EUR ING Groep NV.... Count EUR Unilever NV.... Count EUR Vinci SA.... Count EUR Volkswagen AG.... Count EUR Bellway Plc... Count GBP BT Group Plc.... Count GBP GlaxoSmithKline Plc... Count GBP Lloyds Banking Group Plc.... Count GBP Shire Plc... Count GBP Cheung Kong Holdings Ltd.... Count HKD Kao Corp.... Count JPY Nippon Telegraph & Telephone Corp.... Count JPY Panasonic Corp.... Count JPY Tokio Marine Holdings, Inc.... Count JPY DnB NOR Bank ASA.... Count NOK Statoil ASA... Count NOK Subsea 7 SA.... Count NOK Nordea Bank AB.... Count SEK Actavis Plc... Count USD Aetna, Inc... Count USD American Electric Power Co., Inc.... Count USD Apple, Inc... Count USD Applied Materials, Inc.... Count USD Archer-Daniels-Midland Co.... Count USD Avago Technologies Ltd.... Count USD Caterpillar, Inc.... Count USD Constellation Brands, Inc..... Count USD Corning, Inc.... Count USD Cummins, Inc... Count USD CVS Caremark Corp..... Count USD Discover Financial Services.... Count USD Dow Chemical Co.... Count USD Halliburton Co.... Count USD HCA Holdings, Inc.... Count USD Kroger Co... Count USD LyondellBasell Industries NV.... Count USD Macy s, Inc... Count USD Marriott International, Inc.... Count USD McKesson Corp..... Count USD Micron Technology, Inc..... Count USD Mondelez International, Inc..... Count USD Northrop Grumman Corp..... Count USD SanDisk Corp..... Count USD TE Connectivity Ltd.... Count USD Time Warner, Inc..... Count USD Travelers Cos, Inc.... Count USD Valero Energy Corp.... Count USD

208 DWS Invest Multi Asset Defensive Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Interest-bearing securities 5.50 % Belgium Government Bond 2002/ EUR % % Bundesobligation 2012/ EUR % % Bundesrepublik Deutschland 2006/ EUR % % French Treasury Note BTAN 2011/ EUR % % Italy Buoni Poliennali del Tesoro 2002/ EUR % % Italy Buoni Poliennali del Tesoro 2005/ EUR % % Italy Government International Bond (MTN) 2001/ EUR % % Spain Government Bond 2002/ EUR % % Spain Government Bond 2011/ EUR % % Spain Government Bond 2012/ EUR % Investment fund units Non-group fund units ishares Euro Corporate Bond Large Cap UCITS ETF (0.200%)... Units EUR ishares Euro High Yield Corporate Bond UCITS ETF (0.500%)... Units EUR Pictet - Emerging Local Currency Debt (0.600%)... Units EUR ishares JP Morgan $ Emerging Markets Bond UCITS ETF (0.450%)... Units USD Total securities portfolio Derivatives (Minus signs denote short positions) Equity index derivatives Receivables/payables Equity index futures Nikkei 225 Futures 09/ JPY (OSE)... Count Currency derivatives Receivables/payables Currency futures (long) Open positions USD/EUR 0.2 million Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in other EU/EEA currencies British pound... GBP Danish krone... DKK Norwegian krone... NOK Swedish krona... SEK Deposits in non-eu/eea currencies Australian dollar... AUD Hong Kong dollar... HKD Japanese yen... JPY Canadian dollar... CAD Swiss franc... CHF U.S. dollar... USD Other assets Dividends receivable Interest receivable Receivables from exceeding the expense cap Total assets *** Other liabilities Liabilities from cost items Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 206

209 DWS Invest Multi Asset Defensive 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 LC... EUR Class LD... EUR Class NC.... EUR Number of shares outstanding Class LC... Count Class LD... Count 200 Class NC.... Count 200 Composition of the reference portfolio (according to CSSF circular 11/512) 65% iboxx EUR Overall - Constituents, 35% MSCI THE WORLD INDEX in EUR Constituents 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 June 16, 2014, through June 30, 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 0.1, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Market abbreviations Futures exchanges OSE = Osaka Securities Exchange Contracting party for currency futures Credit Suisse London Branch (GFX) Exchange rates (indirect quotes) As of June 30, Australian dollar.... AUD = EUR 1 Canadian dollar... CAD = EUR 1 Swiss franc.... CHF = EUR 1 Danish krone.... DKK = EUR 1 British pound... GBP = EUR 1 Hong Kong dollar... HKD = EUR 1 Japanese yen... JPY = EUR 1 Norwegian krone.... NOK = EUR 1 Swedish krona.... SEK = EUR 1 U.S. dollar.... USD = EUR 1 Notes on 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. Assets stated in this report are not 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. Footnotes ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 207

210 DWS Invest Multi Asset Dynamic Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Macquarie Group Ltd.... Count AUD Woodside Petroleum Ltd... Count AUD Canadian Natural Resources Ltd.... Count CAD EnCana Corp.... Count CAD Sun Life Financial, Inc.... Count CAD Adecco SA -Reg-.... Count CHF Givaudan SA -Reg-.... Count CHF Roche Holding AG.... Count CHF AP Moeller - Maersk A/S.... Count DKK Danske Bank A/S.... Count DKK Novo Nordisk A/S... Count DKK Anheuser-Busch InBev NV.... Count EUR Assicurazioni Generali SpA.... Count EUR Banco Santander SA.... Count EUR BASF SE... Count EUR Cap Gemini SA... Count EUR Continental AG... Count EUR Credit Agricole SA.... Count EUR Daimler AG... Count EUR Deutsche Post AG -Reg-.... Count EUR Deutsche Telekom AG -Reg-.... Count EUR European Aeronautic Defence and Space Co. NV... Count EUR GDF Suez... Count EUR ING Groep NV.... Count EUR Unilever NV.... Count EUR Vinci SA.... Count EUR Volkswagen AG.... Count EUR Bellway Plc... Count GBP BT Group Plc.... Count GBP GlaxoSmithKline Plc... Count GBP Lloyds Banking Group Plc.... Count GBP Shire Plc... Count GBP Cheung Kong Holdings Ltd.... Count HKD Kao Corp.... Count JPY Nippon Telegraph & Telephone Corp.... Count JPY Panasonic Corp.... Count JPY Tokio Marine Holdings, Inc.... Count JPY DnB NOR Bank ASA.... Count NOK Statoil ASA... Count NOK Subsea 7 SA.... Count NOK Nordea Bank AB.... Count SEK Actavis Plc... Count USD Aetna, Inc... Count USD American Electric Power Co., Inc.... Count USD Apple, Inc... Count USD Applied Materials, Inc.... Count USD Archer-Daniels-Midland Co.... Count USD Avago Technologies Ltd.... Count USD Caterpillar, Inc.... Count USD Constellation Brands, Inc..... Count USD Corning, Inc.... Count USD Cummins, Inc... Count USD CVS Caremark Corp..... Count USD Discover Financial Services.... Count USD Dow Chemical Co.... Count USD Halliburton Co.... Count USD HCA Holdings, Inc.... Count USD Kroger Co... Count USD LyondellBasell Industries NV.... Count USD Macy s, Inc... Count USD Marriott International, Inc.... Count USD McKesson Corp..... Count USD Micron Technology, Inc..... Count USD Mondelez International, Inc..... Count USD Northrop Grumman Corp..... Count USD SanDisk Corp..... Count USD TE Connectivity Ltd.... Count USD Time Warner, Inc..... Count USD Travelers Cos, Inc.... Count USD Valero Energy Corp.... Count USD

211 DWS Invest Multi Asset Dynamic Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Interest-bearing securities 5.50 % Belgium Government Bond 2002/ EUR % % Bundesobligation 2012/ EUR % % Bundesrepublik Deutschland 2006/ EUR % % French Treasury Note BTAN 2011/ EUR % % Italy Buoni Poliennali del Tesoro 2002/ EUR % % Italy Government International Bond (MTN) 2001/ EUR % % Spain Government Bond 2002/ EUR % % Spain Government Bond 2011/ EUR % Investment fund units Non-group fund units ishares Dow Jones-UBS Commodity Swap UCITS ETF (DE) (0.460%)... Units EUR ishares Euro Corporate Bond Large Cap UCITS ETF (0.200%)... Units EUR ishares Euro High Yield Corporate Bond UCITS ETF (0.500%)... Units EUR Pictet - Emerging Local Currency Debt (0.600%)... Units EUR ishares JP Morgan $ Emerging Markets Bond UCITS ETF (0.450%)... Units USD Total securities portfolio Derivatives (Minus signs denote short positions) Equity index derivatives Receivables/payables Equity index futures Nikkei 225 Futures 09/ (OSE)... Count Currency derivatives Receivables/payables Currency futures (long) Open positions USD/EUR 0.3 million Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in other EU/EEA currencies British pound... GBP Danish krone... DKK Norwegian krone... NOK Swedish krona... SEK Deposits in non-eu/eea currencies Australian dollar... AUD Hong Kong dollar... HKD Japanese yen... JPY Canadian dollar... CAD Swiss franc... CHF U.S. dollar... USD Other assets Dividends receivable Interest receivable Receivables from exceeding the expense cap Total assets *** Other liabilities Liabilities from cost items Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 209

212 DWS Invest Multi Asset Dynamic 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 LC... EUR Class NC.... EUR Number of shares outstanding Class LC... Count Class NC.... Count 200 Composition of the reference portfolio (according to CSSF circular 11/512) 75% MSCI THE WORLD INDEX in EUR Constituents, 25% iboxx EUR Overall - Constituents 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 June 16, 2014, through June 30, 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 0.1, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Market abbreviations Futures exchanges OSE = Osaka Securities Exchange Contracting party for currency futures Credit Suisse London Branch (GFX) Exchange rates (indirect quotes) As of June 30, Australian dollar.... AUD = EUR 1 Canadian dollar... CAD = EUR 1 Swiss franc.... CHF = EUR 1 Danish krone.... DKK = EUR 1 British pound... GBP = EUR 1 Hong Kong dollar... HKD = EUR 1 Japanese yen... JPY = EUR 1 Norwegian krone.... NOK = EUR 1 Swedish krona.... SEK = EUR 1 U.S. dollar.... USD = EUR 1 Notes on 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. Assets reported in this report are not 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. Footnotes ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 210

213 DWS Invest Multi Asset Income Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Woodside Petroleum Ltd... Count AUD Royal Bank of Canada.... Count CAD Suncor Energy, Inc... Count CAD Novartis AG -Reg-.... Count CHF Swiss Re Ltd.... Count CHF Allianz SE -Reg-.... Count EUR AXA SA.... Count EUR Bayerische Motoren Werke AG -Pref-.... Count EUR Daimler AG... Count EUR Deutsche Post AG -Reg-.... Count EUR Enel SpA.... Count EUR Eutelsat Communications SA.... Count EUR France Telecom SA.... Count EUR Fresenius SE & Co. KGaA.... Count EUR Hannover Rueckversicherung AG -Reg-.... Count EUR Iberdrola SA.... Count EUR Merck KGaA... Count EUR Red Electrica Corp. SA... Count EUR Reed Elsevier NV.... Count EUR Sampo Oyj -A-.... Count EUR Sanofi.... Count EUR Telefonica SA... Count EUR Aberdeen Asset Management Plc... Count GBP BHP Billiton Plc.... Count GBP BP Plc... Count GBP British American Tobacco Plc.... Count GBP British Land Co., Plc... Count GBP J Sainsbury Plc... Count GBP Next Plc.... Count GBP Old Mutual Plc.... Count GBP Royal Dutch Shell Plc -A-.... Count GBP Canon, Inc.... Count JPY Daito Trust Construction Co., Ltd.... Count JPY Fuji Heavy Industries Ltd.... Count JPY Kirin Holdings Co. Ltd.... Count JPY Komatsu Ltd... Count JPY Marubeni Corp..... Count JPY NTT DoCoMo, Inc.... Count JPY Telenor ASA... Count NOK Investor AB.... Count SEK Swedbank AB.... Count SEK SembCorp. Industries Ltd.... Count SGD Accenture Plc... Count USD ACE Ltd.... Count USD Altria Group, Inc..... Count USD Amgen, Inc... Count USD Apple, Inc... Count USD AT&T, Inc..... Count USD Baxter International, Inc... Count USD Caterpillar, Inc.... Count USD CF Industries Holdings, Inc.... Count USD Cisco Systems, Inc.... Count USD ConocoPhillips.... Count USD Corning, Inc.... Count USD Deere & Co.... Count USD Dow Chemical Co.... Count USD Exxon Mobil Corp.... Count USD FNF Group.... Count USD FNFV Group.... Count USD General Mills, Inc..... Count USD Harris Corp... Count USD Home Depot, Inc..... Count USD Intel Corp..... Count USD International Paper Co..... Count USD Johnson & Johnson.... Count USD JP Morgan Chase & Co..... Count USD Kimberly-Clark Corp..... Count USD L-3 Communications Holdings, Inc.... Count USD Las Vegas Sands Corp... Count USD LyondellBasell Industries NV.... Count USD Macy s, Inc... Count USD Magna International, Inc.... Count USD Medtronic, Inc.... Count USD Microsoft Corp... Count USD Noble Corp. Plc.... Count USD Norfolk Southern Corp..... Count USD Northrop Grumman Corp..... Count USD

214 DWS Invest Multi Asset Income Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Occidental Petroleum Corp.... Count USD Oracle Corp.... Count USD PepsiCo, Inc.... Count USD PNC Financial Services Group, Inc.... Count USD Public Service Enterprise Group... Count USD Schlumberger Ltd... Count USD Seagate Technology Plc... Count USD US Bancorp... Count USD Wal-Mart Stores, Inc.... Count USD Wellpoint, Inc.... Count USD Wells Fargo & Co.... Count USD Interest-bearing securities % Brazil Notas do Tesouro Nacional Serie F 2010/ BRL % % Agrokor DD 2012/ EUR % % Eutelsat SA 2013/ EUR % % JPMorgan Chase & Co. (MTN) 2012/ EUR % % Raiffeisen Bank International AG (MTN) 2013/2018. EUR % % Indonesia Treasury Bond 2013/ IDR % % Turkey Government Bond 2013/ TRY % % Chile Government International Bond 2012/ USD % % Colombia Government International Bond 2000/ USD % % Croatia Government International Bond -Reg- 2013/ USD % % Development Bank of Kazakhstan JSC 2012/2022. USD % % Development Bank of Mongolia LLC -Reg- 2012/ USD % % El Salvador Government International Bond -Reg- 2002/ USD % % Eskom Holdings Ltd -Reg- 2011/ USD % % Hungary Government International Bond 2014/2024 USD % % KazMunayGas National Co., JSC -Reg- 2013/2023. USD % % Mexico Government International Bond (MTN) 2004/ USD % % Panama Government International Bond 2005/ USD % % Peruvian Government International Bond 2005/ USD % % Republic of Azerbaijan International Bond -Reg- 2014/ USD % % Republic of Indonesia -Reg- 2012/ USD % % Slovakia Government International Bond -Reg- 2012/ USD % % Venezuela Government International Bond -Reg- 2005/ USD % % South Africa Government Bond 1998/ ZAR % Investment fund units Non-group fund units ishares Emerging Markets Dividend UCITS ETF (0.650%)... Units USD Total securities portfolio Derivatives (Minus signs denote short positions) Interest rate derivatives Receivables/payables Interest rate futures US Treasury Notes 10 year Futures 09/ USD (CBT)... Count Currency derivatives Receivables/payables Currency futures (short) Open positions EUR/USD 3.5 million

215 DWS Invest Multi Asset Income Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Currency futures (long) Open positions GBP/EUR 0.1 million JPY/EUR 0.2 million USD/EUR 0.1 million Closed positions GBP/EUR 0.2 million JPY/EUR 24.4 million USD/EUR 1.6 million Cash at bank Demand deposits at Custodian EUR deposits EUR Deposits in other EU/EEA currencies British pound... GBP Norwegian krone... NOK Swedish krona... SEK Deposits in non-eu/eea currencies Australian dollar... AUD Indonesian rupiah... IDR Japanese yen... JPY Canadian dollar... CAD Swiss franc... CHF Singapore dollar... SGD South African rand... ZAR Turkish lira... TRY U.S. dollar... USD Other assets Dividends receivable Interest receivable Receivables from exceeding the expense cap Other receivables Total assets *** Other liabilities Additional other liabilities Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 LD... EUR Class ND... EUR Number of shares outstanding Class LD... Count Class ND... Count 200 Composition of the reference portfolio (according to CSSF circular 11/512) 5% of portfolio value Market risk exposure (value-at-risk) (according to CSSF circular 11/512) Lowest market risk exposure... % Highest market risk exposure... % Average market risk exposure... %

216 DWS Invest Multi Asset Income The values-at-risk were calculated for the period from June 4, 2014, through June 30, 2014, using historical simulation with a 99% confidence level, a 10-day holding period and an effective historical observation period of one year. 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 absolute 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 0.4, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Market abbreviations Futures exchanges CBT = Chicago Board of Trade Contracting parties for currency futures Credit Suisse London Branch (GFX) and State Street Bank and Trust Company. Exchange rates (indirect quotes) As of June 30, 2014 Australian dollar... AUD = EUR 1 Brazilian real... BRL = EUR 1 Canadian dollar... CAD = EUR 1 Swiss franc... CHF = EUR 1 British pound... GBP = EUR 1 Indonesian rupiah... IDR = EUR 1 Japanese yen... JPY = EUR 1 Norwegian krone... NOK = EUR 1 Swedish krona... SEK = EUR 1 Singapore dollar... SGD = EUR 1 Turkish lira... TRY = EUR 1 U.S. dollar... USD = EUR 1 South African rand... ZAR = EUR 1 Notes on 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. Assets reported in this report are not 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. Footnotes ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 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/ units/ currency Purchases/ additions Sales/ disposals Securities traded on an exchange Equities Fidelity National Financial, Inc. -A- Count 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) Equity index futures Contracts sold (Underlyings: DJ Euro Stoxx 50, FTSE 100, S&P 500, Topix) EUR

217 DWS Invest Multi Asset Total Return I (formerly: DWS Invest Multi Asset Dynamic) Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Woodside Petroleum Ltd... Count AUD Canadian Imperial Bank of Commerce.... Count CAD Canadian Natural Resources Ltd.... Count CAD Suncor Energy, Inc... Count CAD Toronto-Dominion Bank.... Count CAD Givaudan SA -Reg-.... Count CHF Roche Holding AG.... Count CHF AP Moeller - Maersk A/S.... Count DKK Allianz SE -Reg-.... Count EUR Anheuser-Busch InBev NV.... Count EUR AXA SA.... Count EUR Casino Guichard Perrachon SA.... Count EUR Continental AG... Count EUR Daimler AG... Count EUR Deutsche Telekom AG -Reg-.... Count EUR Enel SpA.... Count EUR Fresenius SE & Co. KGaA.... Count EUR GDF Suez... Count EUR Koninklijke Ahold NV.... Count EUR Muenchener Rueckversicherungs AG -Reg-.... Count EUR Red Electrica Corp. SA... Count EUR Société Générale.... Count EUR Vinci SA.... Count EUR Aviva Plc... Count GBP BHP Billiton Plc.... Count GBP BT Group Plc.... Count GBP Hikma Pharmaceuticals Plc.... Count GBP Next Plc.... Count GBP Old Mutual Plc.... Count GBP Royal Dutch Shell Plc -B-.... Count GBP Central Japan Railway Co.... Count JPY Fuji Heavy Industries Ltd.... Count JPY Kao Corp.... Count JPY Komatsu Ltd... Count JPY Nippon Telegraph & Telephone Corp.... Count JPY Statoil ASA... Count NOK Investor AB.... Count SEK Nordea Bank AB.... Count SEK Skanska AB.... Count SEK ACE Ltd.... Count USD Aetna, Inc... Count USD Ameriprise Financial, Inc.... Count USD Apple, Inc... Count USD Archer-Daniels-Midland Co.... Count USD Boeing Co.... Count USD Capital One Financial Corp... Count USD Cardinal Health, Inc.... Count USD Caterpillar, Inc.... Count USD CF Industries Holdings, Inc.... Count USD Cisco Systems, Inc.... Count USD Comcast Corp.... Count USD ConocoPhillips.... Count USD Constellation Brands, Inc..... Count USD Corning, Inc.... Count USD Cummins, Inc... Count USD CVS Caremark Corp..... Count USD Discover Financial Services.... Count USD Dow Chemical Co.... Count USD Gilead Sciences, Inc... Count USD Halliburton Co.... Count USD Hewlett-Packard Co..... Count USD Humana, Inc... Count USD Johnson & Johnson.... Count USD Kroger Co... Count USD Las Vegas Sands Corp... Count USD LyondellBasell Industries NV.... Count USD Macy s, Inc... Count USD Marriott International, Inc.... Count USD Micron Technology, Inc..... Count USD Microsoft Corp... Count USD Northrop Grumman Corp..... Count USD Oracle Corp.... Count USD Principal Financial Group, Inc... Count USD Schlumberger Ltd.... Count USD TE Connectivity Ltd.... Count USD Thermo Fisher Scientific, Inc..... Count USD Valero Energy Corp.... Count USD Western Digital Corp..... Count USD

218 DWS Invest Multi Asset Total Return I (formerly: DWS Invest Multi Asset Dynamic) Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Certificates DekaBank Deutsche Girozentrale.... Count EUR DekaBank Deutsche Girozentrale.... Count EUR Société Générale Effekten GmbH.... Count EUR Société Générale Effekten GmbH.... Count EUR Société Générale Effekten GmbH.... Count EUR Société Générale Effekten GmbH... Count EUR UniCredit Bank AG... Count EUR Interest-bearing securities 3.25 % Bank of Ireland 2014/ EUR % % Bundesrepublik Deutschland 2005/ EUR % % Casino Guichard Perrachon SA (MTN) 2012/ EUR % % ESB Finance Ltd 2012/ EUR % % FADE - Fondo de Amortizacion del Deficit Electrico (MTN) 2014/ EUR % % France Government Bond OAT 2011/ EUR % % Gazprom OAO Via Gaz Capital SA 144A 2017/2014. EUR % % Imperial Tobacco Finance Plc (MTN) 2011/ EUR % % Italy Buoni Poliennali del Tesoro 2002/ EUR % % Italy Buoni Poliennali del Tesoro 2013/ EUR % % JPMorgan Chase & Co. (MTN) 2012/ EUR % % Petroleos Mexicanos (MTN) 2009/ EUR % % Pohjola Bank Plc (MTN) 2014/2017 *.... EUR % % Portugal Obrigacoes do Tesouro OT 2013/ EUR % % PPR SA (MTN) 2012/ EUR % % Raiffeisen Bank International AG (MTN) 2013/2018. EUR % % Spain Government Bond 2013/ EUR % % Teliasonera AB 2014/ EUR % % Vnesheconombank Via VEB Finance Plc -Reg- 2013/ EUR % % Wells Fargo & Co. (MTN) 2012/ EUR % % Poland Government International Bond 2009/2019. USD % % Russian Railways via RZD Capital Plc 2010/ USD % Securities admitted to or included in organized markets Interest-bearing securities % Intesa Sanpaolo SpA 2013/ USD % Investment fund units Non-group fund units Amundi ETF Japan Topix Eur Hedged Daily UCITS ETF (0.480%).... Units EUR ishares Euro High Yield Corporate Bond UCITS ETF (0.500%).... Units EUR Total securities portfolio Derivatives (Minus signs denote short positions) Equity index derivatives Receivables/payables Equity index futures MSCI Emerging Market 09/ USD (IFUS).... Count Option contracts Options on equity indices Call S&P 500 Index 07/ USD (OPQ).... Count Put Euro Stoxx 50 Index 09/ EUR (XEUR)... Count Put S&P 500 Index 09/ USD (OPQ)... Count Put S&P 500 Index 09/ USD (OPQ)... Count Interest rate derivatives Receivables/payables Option contracts Options on interest rate futures Put OGBL 08/ EUR (OTC) (DB).... Count Currency derivatives Receivables/payables 216

219 DWS Invest Multi Asset Total Return I (formerly: DWS Invest Multi Asset Dynamic) Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Currency futures (short) Open positions EUR/CHF 0.2 million EUR/GBP 0.4 million EUR/JPY 44.4 million USD/AUD 0.7 million USD/JPY 71.3 million Closed positions EUR/USD 0.7 million USD/AUD 0.7 million Currency futures (long) Open positions BRL/USD 0.3 million RUB/EUR 2.4 million RUB/USD 2.5 million TRY/EUR 0.3 million USD/EUR 0.1 million Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in other EU/EEA currencies British pound... GBP Danish krone... DKK Norwegian krone... NOK Swedish krona... SEK Deposits in non-eu/eea currencies Australian dollar... AUD Japanese yen... JPY Canadian dollar... CAD Swiss franc... CHF U.S. dollar... USD Other assets Dividends receivable Interest receivable Receivables from exceeding the expense cap Total assets *** Other liabilities Liabilities from cost items Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 LC... EUR Number of shares outstanding Class LC... Count Composition of the reference portfolio (according to CSSF circular 11/512) 75% MSCI THE WORLD INDEX in EUR Constituents, 25% iboxx EUR Sovereigns 1-3 Constituents (January 31, May 25, 2014), 5% of portfolio value (May 26, June 30, 2014) Market risk exposure (value-at-risk) (according to CSSF circular 11/512) Lowest market risk exposure... % Highest market risk exposure... % Average market risk exposure... %

220 DWS Invest Multi Asset Total Return I (formerly: DWS Invest Multi Asset Dynamic) The values-at-risk were calculated for the period from January 31, 2014, through June 30, 2014, using historical simulation with a 99% confidence level, a 10-day holding period and an effective historical observation period of one year. 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 absolute 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 0.2, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Market abbreviations Futures exchanges IFUS = NYSE Amex Options OPQ = Options Price Reporting Authority BBO XEUR = Eurex Contracting party for derivatives (with the exception of currency futures) DB = Deutsche Bank AG Contracting parties for currency futures Credit Suisse London Branch (GFX), Deutsche Bank AG Frankfurt, Goldman Sachs International and Merrill Lynch International. Exchange rates (indirect quotes) As of June 30, 2014 Australian dollar... AUD = EUR 1 Brazilian real... BRL = EUR 1 Canadian dollar... CAD = EUR 1 Swiss franc... CHF = EUR 1 Danish krone... DKK = EUR 1 British pound... GBP = EUR 1 Japanese yen... JPY = EUR 1 Norwegian krone... NOK = EUR 1 Russian rouble... RUB = EUR 1 Swedish krona... SEK = EUR 1 Turkish lira... TRY = EUR 1 U.S. dollar... USD = EUR 1 Notes on 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. Assets reported in this report are not 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 investment fund held units of other investment funds (target funds), 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 *) Floating interest rate. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 218

221 DWS Invest Multi Asset Total Return I (formerly: DWS Invest Multi Asset Dynamic) 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 Investment fund units Count/ units/ currency Purchases/ additions Sales/ disposals In-group fund units db x-trackers - DJ EURO STOXX 50 ETF (0.000%)... Units db x-trackers - MSCI EMERGING MARKET TRN INDEX ETF (0.450%)... Units db x-trackers - S&P 500 ETF (0.050%)... Units db x-trackers II iboxx Sovereigns Eurozone 3-5 UCITS ETF (0.050%)... Units Non-group fund units ishares Euro Corporate Bond Large Cap UCITS ETF (0.200%)... Units ishares Euro Government Bond 3-5yr UCITS ETF (0.200%)... Units ishares EURO STOXX 50 UCITS ETF (DE) (0.150%)... Units ishares JP Morgan $ Emerging Markets Bond UCITS ETF (0.450%)... Units ishares S&P 500 Index Fund (0.400%)... Units 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) Equity index futures Contracts sold (Underlyings: DJ Euro Stoxx 50, MSCI Emerging Market, S&P 500) EUR Currency futures (short) Futures contracts to sell currencies EUR/CHF EUR 125 EUR/GBP EUR 440 EUR/JPY EUR 320 EUR/USD EUR 500 Currency futures (long) Futures contracts to purchase currencies JPY/USD EUR 515 USD/EUR EUR 500 Option contracts Options on equity index derivatives Options on equity indices Call options sold (Underlyings: DJ Euro Stoxx 50, S&P 500) EUR 89 Put options sold (Underlying: DJ Euro Stoxx 50) EUR 5 219

222 DWS Invest Multi Opportunities Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities JBS SA... Count BRL ABB Ltd -Reg-.... Count CHF Nestle SA -Reg-.... Count CHF Roche Holding AG.... Count CHF bpost SA.... Count EUR CTS Eventim AG.... Count EUR Deutsche Annington Immobilien SE... Count EUR Deutsche Bank AG -Reg-... Count EUR Deutsche Boerse AG.... Count EUR ING Groep NV.... Count EUR NH Hoteles SA... Count EUR Qiagen NV.... Count EUR Raiffeisen International Bank Holding AG.... Count EUR Royal Dutch Shell Plc -A-.... Count EUR RTL Group... Count EUR Sanofi.... Count EUR SAP AG.... Count EUR Unipol Gruppo Finanziario SpA.... Count EUR Anglo American Plc.... Count GBP ASOS Plc.... Count GBP Barclays Plc.... Count GBP BG Group Plc.... Count GBP BHP Billiton Plc.... Count GBP HSBC Holdings Plc.... Count GBP Rio Tinto Plc... Count GBP Standard Chartered Plc.... Count GBP Vodafone Group Plc.... Count GBP Prada S.p.A.... Count HKD Mitsubishi Estate Co., Ltd.... Count JPY AbbVie, Inc.... Count USD Amgen, Inc... Count USD Citigroup, Inc.... Count USD Gilead Sciences, Inc... Count USD KT Corp. -ADR-... Count USD Pfizer, Inc..... Count USD SK Telecom Co., Ltd -ADR-.... Count USD Time Warner, Inc..... Count USD Vale SA -ADR-.... Count USD Interest-bearing securities 7.25 % Altice SA -Reg- 2014/ EUR % % Assicurazioni Generali SpA (MTN) 2012/2042 *.... EUR % % BAWAG PSK Bank fuer Arbeit and Wirtschaft and Oesterreichische Postsparkasse AG (MTN) 2013/ EUR % % Hapag-Lloyd AG (MTN) 2010/ EUR % % Numericable Group SA -Reg- 2014/ EUR % % Barclays Bank Plc 2008/2049 *.... GBP % % Gazprom OAO -Reg- 2012/ USD % % Indonesia Government International Bond (MTN) -Reg- 2013/ USD % % Sberbank of Russia 2013/ USD % % T-Mobile USA, Inc. 2013/ USD % % Turkey Government International Bond 2014/2045. USD % % Turkey Government International Bond 2005/2020. USD % Securities admitted to or included in organized markets Interest-bearing securities % Commerzbank AG -Reg- 2013/ USD % Investment fund units In-group fund units db x-trackers II - EONIA Total Return Index ETF (0.050%).... Units EUR db x-trackers MSCI Korea TRN Index UCITS ETF (0.450%)... Units EUR db x-trackers S&P 500 UCITS ETF - 1C (0.050%).... Units EUR db x-trackers STOXX Global Select Dividend 100 UCITS ETF (0.400%).... Units EUR DWS Concept Kaldemorgen (0.750% +)... Units EUR DWS Convertibles (0.750%).... Units EUR DWS Global Growth (1.450%)... Units EUR DWS Global Value (1.250%).... Units EUR DWS Invest - Euro Bonds Short (0.450%).... Units EUR DWS Top Europe (1.400%).... Units EUR

223 DWS Invest Multi Opportunities Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Non-group fund units Lyxor UCTS ETF China Enterprise HSCEI (0.650%)... Units EUR Total securities portfolio Derivatives (Minus signs denote short positions) Equity index derivatives Receivables/payables Equity index futures DAX Index Futures 09/ EUR (XEUR)... Count DJ EURO STOXX 50 Index Futures 09/ EUR (XEUR)... Count Nikkei 225 Futures 09/ USD (CME)... Count S & P MINI 500 Futures 09/ USD (CME)... Count Interest rate derivatives Receivables/payables Interest rate futures Germany Federal Republic Notes 10 year 09/ EUR (XEUR)... Count Currency derivatives Receivables/payables Currency futures (short) Open positions USD/JPY 82.1 million Currency futures (long) Open positions USD/EUR 10.5 million Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in other EU/EEA currencies British pound... GBP Deposits in non-eu/eea currencies Hong Kong dollar... HKD Japanese yen... JPY Swiss franc... CHF Other assets Dividends receivable Interest receivable Receivables from exceeding the expense cap Other receivables Receivables from share certificate transactions Total assets *** Short-term liabilities Loans in non-eu/eea currencies U.S. dollar.... USD Other liabilities Additional other liabilities Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 221

224 DWS Invest Multi Opportunities 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 LC... EUR Class LDQ.... EUR Class NC.... EUR Class NDQ.... EUR Class PFC... EUR Class PFDQ.... EUR Number of shares outstanding Class LC... Count Class LDQ.... Count Class NC.... Count Class NDQ.... Count Class PFC... Count Class PFDQ.... Count Composition of the reference portfolio (according to CSSF circular 11/512) 50% MSCI Europe ex UK in EUR Constituents, 50% MSCI THE WORLD INDEX in EUR Constituents 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 June 4, 2014, through June 30, 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 0.5, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Market abbreviations Futures exchanges CME = Chicago Mercantile Exchange XEUR = Eurex Contracting parties for currency futures Goldman Sachs International and State Street Bank and Trust Company Exchange rates (indirect quotes) As of June 30, Brazilian real... BRL = EUR 1 Swiss franc.... CHF = EUR 1 British pound... GBP = EUR 1 Hong Kong dollar... HKD = EUR 1 Japanese yen... JPY = EUR 1 U.S. dollar.... USD = EUR 1 Notes on 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. Assets reported in this report are not 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 investment fund held units of other investment funds (target funds), 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 *) Floating interest rate. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 222

225 DWS Invest Multi Opportunities 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/ units/ currency Purchases/ additions Sales/ disposals Securities traded on an exchange Equities Apache Corp.... Count Applus Services SA... Count Deutsche Bank AG -Rights Exp 05Jun14... Count ENI SpA... Count Occidental Petroleum Corp.... Count Stada Arzneimittel AG... Count Time, Inc.... Count 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) Equity index futures Contracts purchased (Underlyings: Dax, S&P 500) EUR Contracts sold (Underlying: Nikkei 225) EUR

226 DWS Invest New Resources Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Weg SA.... Count BRL Metro, Inc.... Count CAD Potash Corp. of Saskatchewan, Inc... Count CAD Stantec, Inc.... Count CAD Bilfinger Berger AG.... Count EUR Enel Green Power SpA.... Count EUR GEA Group AG... Count EUR Infineon Technologies AG.... Count EUR Legrand SA.... Count EUR OSRAM Licht AG... Count EUR Sipef SA.... Count EUR Suez Environnement SA **... Count EUR Veolia Environnement SA.... Count EUR DS Smith Plc.... Count GBP Pennon Group Plc.... Count GBP Shanks Group Plc... Count GBP United Utilities Group Plc... Count GBP China Singyes Solar Technologies Holdings Ltd... Count HKD China Suntien Green Energy Corp., Ltd... Count HKD Huaneng Renewables Corp. Ltd.... Count HKD Tencent Holdings Ltd... Count HKD Xinyi Glass Holding Co., Ltd.... Count HKD Xinyi Solar Holdings Ltd... Count HKD Asahi Kasei Corp.... Count JPY Ebara Corp..... Count JPY Fanuc Corp... Count JPY Komatsu Ltd... Count JPY Sekisui House Ltd.... Count JPY Sumitomo Chemical Co., Ltd... Count JPY West Holdings Corp.... Count JPY Sapphire Technology Co., Ltd **... Count KRW Seoul Semiconductor Co., Ltd... Count KRW Yara International ASA.... Count NOK Nibe Industrier AB -B-.... Count SEK Ezion Holdings Ltd... Count SGD First Resources Ltd.... Count SGD Hyflux Ltd... Count SGD Wilmar International Ltd.... Count SGD Epistar Corp..... Count TWD Everlight Electronics Co., Ltd... Count TWD M Co.... Count USD Acuity Brands, Inc.... Count USD American Water Works Co., Inc.... Count USD Analog Devices, Inc..... Count USD Aqua America, Inc.... Count USD Archer-Daniels-Midland Co.... Count USD BRF - Brasil Foods SA -ADR-.... Count USD Canadian Solar, Inc.... Count USD Chicago Bridge & Iron Co. NV.... Count USD Cisco Systems, Inc.... Count USD Corning, Inc.... Count USD Cree, Inc... Count USD Danaher Corp... Count USD Darling International, Inc.... Count USD Deere & Co.... Count USD Dow Chemical Co.... Count USD Ecolab, Inc.... Count USD Flowserve Corp.... Count USD Foster Wheeler AG.... Count USD Helmerich & Payne, Inc..... Count USD Hollysys Automation Technologies Ltd.... Count USD Hormel Foods Corp.... Count USD Itron, Inc... Count USD Johnson Controls, Inc.... Count USD Kellogg Co.... Count USD Keurig Green Mountain, Inc... Count USD LKQ Corporation, Inc..... Count USD Manitowoc Co., Inc..... Count USD Noble Energy, Inc.... Count USD Owens-Illinois, Inc.... Count USD Pentair Plc.... Count USD Quanta Services, Inc.... Count USD Silver Spring Networks, Inc..... Count USD Tenneco, Inc.... Count USD The Andersons, Inc.... Count USD Thermo Fisher Scientific, Inc..... Count USD Trina Solar Ltd -ADR-.... Count USD Trinity Industries, Inc..... Count USD TRW Automotive Holdings Corp..... Count USD

227 DWS Invest New Resources Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Tyson Foods, Inc. -A-... Count USD Union Pacifique Corp.... Count USD Valmont Industries, Inc.... Count USD Wabtec Corp.... Count USD Xylem, Inc.... Count USD Total securities portfolio Derivatives (Minus signs denote short positions) Equity index derivatives Receivables/payables Equity index futures H-Shares Index Futures 09/ HKD (HKF)... Count Nikkei 225 Futures 09/ JPY (OSE)... Count S & P MINI 500 Futures 09/ USD (CME)... Count STOXX Europe 600 Futures 09/ EUR (XEUR). Count Currency derivatives Receivables/payables Currency futures (short) Open positions EUR/BRL 0.8 million EUR/JPY 22.6 million Closed positions EUR/JPY million Currency futures (long) Open positions BRL/EUR 0.7 million Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in other EU/EEA currencies British pound... GBP Danish krone... DKK Norwegian krone... NOK Swedish krona... SEK Deposits in non-eu/eea currencies Australian dollar... AUD Brazilian real... BRL Hong Kong dollar... HKD Israeli shekel... ILS Japanese yen... JPY Canadian dollar... CAD New Taiwan dollar... TWD Swiss franc... CHF Singapore dollar... SGD South Korean won... KRW Thai baht... THB U.S. dollar... USD Other assets Dividends receivable Receivables from exceeding the expense cap Other receivables Receivables from share certificate transactions Total assets *** Other liabilities Liabilities from cost items Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 225

228 DWS Invest New Resources 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 FC... EUR Class LC... EUR Class LD... EUR Class NC.... EUR Class USD FC.... USD Class USD LC.... USD Number of shares outstanding Class FC... Count Class LC... Count Class LD... Count Class NC.... Count Class USD FC.... Count Class USD LC.... Count Composition of the reference portfolio (according to CSSF circular 11/512) 34% FTSE Environmental Opportunities All-Share Index_TR, 33% DAXglobal Agribusiness Index (in EUR), 33% S&P Global Water 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 June 30, 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 0.1, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Market abbreviations Futures exchanges CME = Chicago Mercantile Exchange HKF = Hong Kong Futures Exchange OSE = Osaka Securities Exchange XEUR = Eurex Contracting parties for currency futures Deutsche Bank AG Frankfurt and JP Morgan Chase Bank N.A. Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual Sapphire Technology Co., Ltd Count Suez Environnement SA Count Total receivables from securities loans Contracting party for securities loans UBS AG London Branch Total collateral pledged by third parties for securities loans EUR including: Equities EUR

229 DWS Invest New Resources Exchange rates (indirect quotes) As of June 30, 2014 Australian dollar... AUD = EUR 1 Brazilian real... BRL = EUR 1 Canadian dollar... CAD = EUR 1 Swiss franc... CHF = EUR 1 Danish krone... DKK = EUR 1 British pound... GBP = EUR 1 Hong Kong dollar... HKD = EUR 1 Israeli shekel... ILS = EUR 1 Japanese yen... JPY = EUR 1 South Korean won... KRW = EUR 1 Norwegian krone... NOK = EUR 1 Swedish krona... SEK = EUR 1 Singapore dollar... SGD = EUR 1 Thai baht... THB = EUR 1 New Taiwan dollar... TWD = EUR 1 U.S. dollar... USD = EUR 1 Notes on 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. Assets reported in this report are not valued at derived market values. Footnotes **) Some or all of these securities are lent. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 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 Securities traded on an exchange Count/ units/ currency Purchases/ additions Sales/ disposals Equities Affiliated Managers Group, Inc.... Count Agilent Technologies, Inc.... Count Allegion Plc... Count ARM Holdings Plc... Count Aviva Plc... Count AXA SA... Count Barclays Plc... Count China Railway Construction Corp. -H-... Count China Railway Group Ltd... Count Cie de Saint-Gobain... Count Citigroup, Inc.... Count Cosan SA Industria e Comercio... Count Daifuku Co., Ltd... Count Daimler AG... Count East Japan Railway Co.... Count Empire Co., Ltd... Count GDF Suez... Count General Electric Co.... Count General Motors Corp.... Count Honeywell International, Inc.... Count Ingersoll-Rand Plc... Count JinkoSolar Holding Co., Ltd -ADR-... Count Koninklijke Philips Electronics NV... Count Leoni AG... Count Meyer Burger Technology AG... Count Osaka Securities Exchange Co., Ltd... Count Pattern Energy Group, Inc.... Count Pentair, Inc.... Count Renault SA... Count Rock-Tenn Co. -A-... Count SAP AG... Count Schneider Electric SA... Count SembCorp. Industries Ltd... Count Severn Trent Plc... Count SM Energy Co.... Count Sunedison, Inc.... Count Description Count/ Purchases/ Sales/ units/ additions disposals currency Taewoong Co., Ltd... Count Tencent Holdings Ltd... Count Tencent Holdings Ltd... Count Terex Corp.... Count Toyota Motor Corp.... Count Vestas Wind Systems... Count Vestas Wind Systems A/S... Count Visa, Inc. -A-... Count WPP Plc... Count Yingli Green Energy Holding Co., Ltd... Count Investment fund units Non-group fund units Lyxor ETF STOXX Europe 600 Banks (0.300%). Units 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) Equity index futures Contracts sold (Underlyings: DJ Stoxx 600, H-Shares, Nikkei 225, S&P 500) EUR Currency futures (short) Futures contracts to sell currencies EUR/BRL EUR EUR/JPY EUR Currency futures (long) Futures contracts to purchase currencies EUR/BRL EUR

230 DWS Invest RREEF Global Real Estate Securities Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period USD assets Securities traded on an exchange Equities Australand Property Group.... Count AUD Dexus Property Group.... Count AUD Federation Centres.... Count AUD GDI Property Group.... Count AUD Goodman Group... Count AUD GPT Group.... Count AUD Investa Office Fund.... Count AUD Mirvac Group.... Count AUD Scentre Group.... Count AUD Stockland.... Count AUD Westfield Corp... Count AUD Allied Properties Real Estate Investment Trust... Count CAD Boardwalk Real Estate Investment Trust.... Count CAD Chartwell Retirement Residences... Count CAD First Capital Realty, Inc.... Count CAD H&R Real Estate Investment Trust.... Count CAD RioCan Real Estate Investment Trust.... Count CAD PSP Swiss Property AG... Count CHF Alstria Office REIT AG.... Count EUR Beni Stabili SpA.... Count EUR Citycon Oyj... Count EUR Citycon Oyj -Rights Exp 09Jun Count EUR Deutsche Annington Immobilien SE... Count EUR Deutsche Wohnen AG... Count EUR DIC Asset AG.... Count EUR GAGFAH SA... Count EUR Hibernia REIT Plc... Count EUR ICADE.... Count EUR Klepierre... Count EUR Lar Espana Real Estate Socimi SA.... Count EUR LEG Immobilien AG... Count EUR Societe Fonciere Lyonnaise SA.... Count EUR Unibail-Rodamco.... Count EUR Wereldhave NV.... Count EUR British Land Co., Plc... Count GBP Capital & Counties Properties Plc.... Count GBP Derwent London Plc.... Count GBP Great Portland Estates Plc... Count GBP Hammerson Plc.... Count GBP Land Securities Group Plc.... Count GBP LXB Retail Properties Plc... Count GBP Max Property Group Plc... Count GBP NewRiver Retail Ltd... Count GBP Quintain Estates & Development Plc.... Count GBP Safestore Holdings Ltd.... Count GBP St Modwen Properties Plc... Count GBP Unite Group Plc.... Count GBP China Overseas Land & Investment Ltd.... Count HKD Hang Lung Properties Ltd.... Count HKD Henderson Land Development Co., Ltd.... Count HKD Hysan Development Co., Ltd... Count HKD Kerry Properties Ltd... Count HKD Link REIT.... Count HKD New World Development Ltd.... Count HKD Sun Hung Kai Properties Ltd.... Count HKD Wharf Holdings Ltd.... Count HKD Global Logistic Properties Eyes Japan REIT... Count JPY Global One Real Estate Investment Corporation... Count JPY Japan Real Estate Investment Corp.... Count JPY Japan Retail Fund Investment Corp.... Count JPY Mitsubishi Estate Co., Ltd.... Count JPY Mitsui Fudosan Co., Ltd... Count JPY Mori Trust Sogo Reit, Inc... Count JPY Nippon Accommodations Fund, Inc... Count JPY Nippon Building Fund, Inc.... Count JPY Nomura Real Estate Master Fund, Inc.... Count JPY Nomura Real Estate Office Fund, Inc.... Count JPY NTT Urban Development Corp.... Count JPY Premier Investment Corp.... Count JPY Sumitomo Realty & Development Co., Ltd.... Count JPY Tokyo Tatemono Co., Ltd.... Count JPY Tokyu REIT, Inc.... Count JPY Norwegian Property ASA... Count NOK Ayala Land, Inc... Count PHP Fabege AB.... Count SEK Ascendas Real Estate Investment Trust.... Count SGD CapitaCommercial Trust... Count SGD CapitaLand Ltd... Count SGD CapitaMall Trust... Count SGD City Developments Ltd.... Count SGD

231 DWS Invest RREEF Global Real Estate Securities Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period USD assets Global Logistic Properties Ltd.... Count SGD Mapletree Industrial Trust.... Count SGD Suntec Real Estate Investment Trust.... Count SGD Acadia Realty Trust.... Count USD Alexandria Real Estate Equities, Inc.... Count USD American Campus Communities, Inc.... Count USD American Realty Capital Properties, Inc.... Count USD Apartment Investment & Management Co. -A-... Count USD AvalonBay Communities, Inc... Count USD Boston Properties, Inc..... Count USD Brandywine Realty Trust.... Count USD Chesapeake Lodging Trust.... Count USD CubeSmart.... Count USD DCT Industrial Trust, Inc.... Count USD DDR Corp... Count USD DiamondRock Hospitality Co..... Count USD Digital Realty Trust, Inc.... Count USD Douglas Emmett, Inc..... Count USD Duke Realty Corp... Count USD Equity Residential.... Count USD Essex Property Trust, Inc... Count USD Extra Space Storage, Inc.... Count USD Federal Realty Investment Trust.... Count USD First Industrial Realty Trust, Inc..... Count USD General Growth Properties, Inc..... Count USD Glimcher Realty Trust.... Count USD HCP, Inc... Count USD Health Care REIT, Inc... Count USD Healthcare Realty Trust, Inc... Count USD Home Properties, Inc... Count USD Hongkong Land Holdings Ltd.... Count USD Host Hotels & Resorts, Inc.... Count USD Kilroy Realty Corp.... Count USD LaSalle Hotel Properties.... Count USD Lexington Realty Trust... Count USD Mack-Cali Realty Corp.... Count USD National Retail Properties, Inc.... Count USD Post Properties, Inc..... Count USD ProLogis, Inc.... Count USD Public Storage, Inc..... Count USD Regency Centers Corp... Count USD Retail Properties of Americ A Aktie... Count USD RLJ Lodging Trust.... Count USD Senior Housing Properties Trust.... Count USD Simon Property Group, Inc.... Count USD SL Green Realty Corp.... Count USD Spirit Realty Capital, Inc... Count USD Strategic Hotels & Resorts, Inc..... Count USD Sunstone Hotel Investors, Inc..... Count USD The Macerich Co.... Count USD Ventas, Inc..... Count USD Vornado Realty Trust.... Count USD Total securities portfolio Derivatives (Minus signs denote short positions) Derivatives on individual securities Warrants on securities Equity warrants Sun Hung Kai Properties Ltd 22/04/ Count HKD Cash at bank Demand deposits at Custodian EUR deposits.... EUR Deposits in other EU/EEA currencies British pound... GBP Norwegian krone.... NOK Swedish krona.... SEK

232 DWS Invest RREEF Global Real Estate Securities Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period USD assets Deposits in non-eu/eea currencies.. Australian dollar.... AUD Chinese offshore renminbi.... CNH Hong Kong dollar... HKD Japanese yen... JPY Canadian dollar... CAD Philippine peso... PHP Singapore dollar... SGD Other assets Dividends receivable Receivables from exceeding the expense cap Other receivables Total assets Short-term liabilities Loans in non-eu/eea currencies U.S. dollar.... USD Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 LD... EUR Class USD FC.... USD Class USD LC.... USD Number of shares outstanding Class LD... Count Class USD FC.... Count Class USD LC.... Count Composition of the reference portfolio (according to CSSF circular 11/512) FTSE EPRA/NAREIT Developed Global REIT hedged USD (January 1, May 25, 2014), FTSE EPRA/NAREIT Developed Index Constituents (May 26, June 30, 2014) 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 June 30, 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 0.1, whereby the total of the nominal amounts of the derivatives 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 USD as of the reporting date. 230

233 DWS Invest RREEF Global Real Estate Securities Exchange rates (indirect quotes) As of June 30, Australian dollar.... AUD = USD 1 Canadian dollar... CAD = USD 1 Swiss franc.... CHF = USD 1 Chinese offshore renminbi.... CNH = USD 1 Euro... EUR = USD 1 British pound... GBP = USD 1 Hong Kong dollar... HKD = USD 1 Japanese yen... JPY = USD 1 Norwegian krone.... NOK = USD 1 Philippine peso... PHP = USD 1 Swedish krona.... SEK = USD 1 Singapore dollar... SGD = USD 1 Philippine peso... PHP = USD 1 Swedish krona.... SEK = USD 1 Singapore dollar... SGD = USD 1 Notes on 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. Assets stated in this report are valued to a small extent at derived market values. 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/ units/ currency Purchases/ additions Sales/ disposals Description Count/ units/ currency Purchases/ additions Sales/ disposals Securities traded on an exchange Equities Agile Property Holdings Ltd... Count Ashford Hospitality Prime, Inc..... Count Aviv REIT, Inc.... Count BRE Properties, Inc. -A-.... Count Camden Property Trust.... Count CapitaMalls Asia Ltd.... Count Castellum AB.... Count CBL & Associates Properties, Inc.... Count CFS Retail Property Trust.... Count CommonWealth Reit.... Count Corio NV... Count Country Garden Holdings Co., Ltd... Count Deutsche Euroshop AG.... Count DuPont Fabros Technology, Inc... Count Education Realty Trust, Inc.... Count Equity Lifestyle Properties, Inc.... Count Gecina SA.... Count Helical Bar Plc.... Count Hulic Co., Ltd... Count Hulic Reit, Inc... Count Japan Hotel REIT Investment Corp..... Count Kenedix Realty Investment Corp..... Count Kennedy Wilson Europe Real Estate Plc.... Count Keppel Land Ltd... Count Kite Realty Group Trust.... Count LTC Properties, Inc.... Count New World Development Co., Ltd -Rights Exp 14Mar Count Nippon Prologis REIT, Inc.... Count 4 34 Orix JREIT, Inc..... Count Piedmont Office Realty Trust, Inc..... Count Realty Income Corp..... Count Rexford Industrial Realty, Inc... Count Sabra Healthcare, Inc... Count Select Income REIT.... Count Shimao Property Holdings Ltd... Count Sino Land Co., Ltd.... Count Sponda Oyj... Count Swire Properties Ltd.... Count Taubman Centers, Inc.... Count The Unite Group.... Count The Unite Group.... Count Washington Prime Group, Inc..... Count Weingarten Realty Investors.... Count Westfield Group... Count Westfield Retail Trust Stapled Security.... Count Unlisted securities Equities Golden Iron Resources Ltd... Count

234 DWS Invest Short Duration Credit Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Interest-bearing securities 1.75 % Abbey National Treasury Services Plc 2013/ EUR % % Abbey National Treasury Services PLC/London (MTN) 2014/ EUR % % ABH Financial Ltd Via Alfa Holding Issuance Plc 2014/ EUR % % AIB Mortgage Bank (MTN) 2010/ EUR % % America Movil SAB de CV 2013/2073 *... EUR % % Anglo American Capital 2012/ EUR % % Anglo American Capital Plc (MTN) 2014/ EUR % % Anglo American Capital Plc 2013/ EUR % % Anheuser-Busch InBev NV (MTN) 2014/2018 *... EUR % % Atlantia SpA (MTN) 2009/ EUR % % Aviva Plc 2004/2049 *... EUR % % Baggot Securities Ltd -Reg- 2013/ EUR % % Banca Monte dei Paschi di Siena SpA (MTN) 2014/ EUR % % Banco Bilbao Vizcaya Argentaria SA 2007/2022 * ** EUR % % Banco Comercial Portugues SA (MTN) 2014/2017. EUR % % Banco de Sabadell SA (MTN) 2013/ EUR % % Banco do Brasil SA (MTN) -Reg- 2013/ EUR % % Bank of America Corp. (MTN) 2009/ EUR % % Bank of Ireland 2013/ EUR % % Bank of Ireland 2014/ EUR % % Bankia SA (MTN) 2014/2024 *... EUR % % Bankinter SA (MTN) 2013/ EUR % % Banque Federative du Credit Mutuel SA (MTN) 2013/ EUR % % Barclays Bank Plc (MTN) 2008/ EUR % % Bayer AG (MTN) 2014/ EUR % % BBVA Senior Finance SAU (MTN) 2014/ EUR % % BBVA Sub Capital Unipers -Reg- 2014/2024 *... EUR % % Belfius Bank SA/NV (MTN) 2014/ EUR % % Bharti Airtel International Netherlands BV 2013/ EUR % % Bord Gais Eireann 2012/ EUR % % BPCE SA (MTN) 2010/ EUR % % BPCE SA 2006/2049 *... EUR % % Brambles Finance Plc 2011/ EUR % % British Telecommunications Plc 2014/ EUR % % Carrefour SA 2012/ EUR % % Casino Guichard Perrachon SA (MTN) 2010/2017. EUR % % CEZ AS 2011/ EUR % % Cie de Saint-Gobain (MTN) 2007/ EUR % % Citigroup, Inc. (MTN) 2005/2017 *... EUR % % Citigroup, Inc. (MTN) 2010/ EUR % % Coca-Cola Enterprises, Inc. 2010/ EUR % % Commerzbank AG (MTN) 2012/ EUR % % Credit Agricole SA (MTN) 2011/ EUR % % Credit Suisse Group Finance US, Inc. 2005/2020 * **... EUR % % Credit Suisse/London (MTN) 2010/ EUR % % Danske Bank A/S (MTN) 2005/2018 *... EUR % % Danske Bank A/S (MTN) 2011/ EUR % % Delta Lloyd NV (MTN) 2010/ EUR % % DNB Bank ASA (MTN) 2013/2023 *... EUR % % DONG Energy A/S (MTN) 2013/3013 *... EUR % % EDP Finance BV (MTN) 2009/ EUR % % EDP Finance BV 2012/ EUR % % Enel Finance International NV 2012/ EUR % % Enel Finance International SA (MTN) 2009/ EUR % % Enel SpA 2010/ EUR % % Eni Spa 2011/ EUR % % EP Energy AS-Reg- 2013/2018 **... EUR % % Erste Group Bank AG (MTN) 2011/ EUR % % ESB Finance Ltd 2012/ EUR % % FCE Bank Plc (MTN) 2013/ EUR % % Fiat Finance & Trade SA (MTN) 2012/ EUR % % FMC Finance VIII SA 2011/ EUR % % G4S International Finance Plc 2012/ EUR % % Gas Natural Capital Markets SA (MTN) 2012/2017. EUR % % Gaz Capital SA (MTN) 2007/ EUR % % Gazprom (MTN) 2005/ EUR % % Gazprombank OJSC Via GPB Eurobond Finance Plc -Reg- 2014/ EUR % % GE Capital European Funding (MTN) 2011/ EUR % % Glencore Finance Europe SA (MTN) 2010/ EUR % % Glencore Finance Europe SA (MTN) 2012/ EUR % % Global Switch Holdings l (MTN) 2011/ EUR % % Governor and Company of the Ban 2013/ EUR % % Hutchison Whampoa International Ltd 2012/2017. EUR %

235 DWS Invest Short Duration Credit Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets 3.75 % Hutchison Whampoa Ltd 2013/2049 *... EUR % % Hydra Dutch Holdings -Reg- 2014/2019 *... EUR % % Iberdrola International BV 2012/ EUR % % Imperial Tobacco Finance Plc (MTN) 2009/ EUR % % ING Bank NV 2013/2023 *... EUR % % Intesa Sanpaolo SpA (MTN) 2012/ EUR % % Intesa Sanpaolo SpA -Reg- 2014/2019 * **... EUR % % IPIC GMTN Ltd 2012/ EUR % % JP Morgan Chase & Co. (MTN) 2006/2018 *... EUR % % KBC Groep NV 2014/2049 *... EUR % % Kering SA 2013/ EUR % % Koninklijke KPN NV 2013/2049 *... EUR % % Lloyds Bank Plc 2013/ EUR % % Lloyds TSB Bank Plc (MTN) 2011/2021 *... EUR % % Lottomatica SpA 2009/ EUR % % Lottomatica SpA -Reg- 2006/2066 *... EUR % % Madrilena Red de Gas Finance BV (MTN) 2013/ EUR % % Mondelez International, Inc. 2013/ EUR % % Mondi Finance Plc (MTN) 2010/ EUR % % Nationwide Building Society (MTN) 2013/2023 *.. EUR % % Nationwide Building Society (MTN) 2014/ EUR % % Natixis 2007/2049 *... EUR % % Nykredit Realkredit A/S (MTN) 2010/ EUR % % Orange SA (MTN) 2013/ EUR % % Pernod Ricard SA 2011/ EUR % % Petrobras Global Finance BV 2014/ EUR % % Petrol DD Ljubljana 2014/ EUR % % Petroleos Mexicanos (MTN) 2009/ EUR % % Peugeot SA (MTN) 2013/ EUR % % PGE Sweden AB 2014/ EUR % % Raiffeisen Bank International AG (MTN) 2013/2018. EUR % % RCI Banque SA (MTN) 2012/ EUR % % RCI Banque SA 2012/ EUR % % Renault SA 2010/ EUR % % Republika Slovenija -Reg- 2014/ EUR % % Royal Bank of Scotland Group Plc 2014/ EUR % % Royal Bank of Scotland Plc (MTN) 2004/2021 *... EUR % % RWE AG 2010/2049 *... EUR % % Santander Consumer Finance SA 2014/ EUR % % Santander International Debt SAU (MTN) 2014/2017 EUR % % Santander International Debt SAU 2012/ EUR % % Snam SpA (MTN) 2012/ EUR % % Snam SpA (MTN) 2013/ EUR % % SNAM SpA -Reg- 2014/ EUR % % Société Générale (MTN) 2011/ EUR % % Société Générale SA (MTN) 2012/ EUR % % Standard Chartered Plc (MTN) 2012/ EUR % % Svenska Handelsbanken AB 2014/2024 *... EUR % % Telefonica Emisiones SAU 2014/2017 *... EUR % % Tesco Corporate Treasury Services Plc 2014/2019. EUR % % Tesco Treasury Services Plc 2013/ EUR % % Thales SA (MTN) 2013/ EUR % % Turkiye Vakiflar Bankasi Tao 2014/ EUR % % UBS AG 2005/2049 *... EUR % % UniCredit SpA 2012/ EUR % % UniCredit SpA -Reg- 2014/2017 *... EUR % % Unione di Banche Italiane SCpA (MTN) 2013/2017. EUR % % Unitymedia Hessen GmbH & Co., KG -Reg- 2012/ EUR % % Vale SA (MTN) 2010/ EUR % % Veolia Environnement SA 2013/2049 * **... EUR % % Vivendi SA (MTN) 2012/ EUR % % Volkswagen International Finance NV 2013/2049 *. EUR % % Wells Fargo & Company -Reg- 2014/2019 *... EUR % % SSE Plc 2010/2049 *... GBP % % ABB Finance USA, Inc. 2012/ USD % % ABN Amro Bank NV (MTN) 2012/2022 *... USD % % American Express Credit Corp. 2013/ USD % % American International Group, Inc. 2012/ USD % % Aviva Plc 2012/ USD % % Banco Santander SA -Reg- 2014/2049 *... USD % % Bank of America Corp. 2007/ USD % % Barclays Bank Plc 2012/ USD % % BBVA US Senior SAU 2012/ USD % % BHP Billiton Finance USA Ltd 2013/ USD % % BP Capital Markets Plc 2012/ USD % % British Telecommunications Plc 2012/ USD % % Capital One Financial Corp. 2012/ USD % % Carnival Corp. 2012/ USD % % Citigroup, Inc. 2012/ USD % % Delek & Avner Tamar Bond Ltd 144A 2014/ USD % % Deutsche Bank AG 2011/ USD %

236 DWS Invest Short Duration Credit Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets 3.20 % DNB Bank Asa -Reg- 2012/ USD % % Ford Motor Credit Co. LLC 2014/ USD % % Goldman Sachs Group, Inc. 2012/ USD % % International Bank of Azerbaijan OJSC 2014/2019. USD % % JPMorgan Chase & Co. 2012/ USD % % KeyCorp (MTN) 2013/ USD % % Nomura Holdings, Inc. (MTN) 2013/ USD % % Orange SA 2011/ USD % % Petrobras Global Finance BV 2013/2016 *... USD % % Royal Bank of Scotland Plc 2011/ USD % % Royal Bank of Scotland Plc 2012/ USD % % Royal Caribbean Cruises Ltd 2009/ USD % % RWE AG 2012/2072 *... USD % % Sinopec Group Overseas Development 2012 Ltd -Reg- 2012/ USD % % Société Générale SA (MTN) 2013/2049 * **... USD % % Swedbank AB 2012/ USD % % Telefonica Emisiones SAU 2007/ USD % % Telefonica Emisiones SAU 2013/ USD % % Telenor ASA 2013/ USD % % Turkiye Halk Bankasi AS -Reg- 2014/2019 **... USD % % UBS AG 2013/2023 *... USD % % UniCredit SpA (MTN) -Reg- 2013/2023 *... USD % % Verizon Communications, Inc. 2013/ USD % Securities admitted to or included in organized markets Interest-bearing securities 2.50 % ABN AMRO Bank NV -Reg- 2013/ USD % % BNP Paribas 2012/ USD % % BNP Paribas SA (MTN) 2013/ USD % % Nordea Bank AB -Reg- 2012/ USD % % CNPC General Capital Ltd -Reg- 2012/ USD % % Credit Agricole SA -Reg- 2010/ USD % % Credit Agricole SA -Reg- 2013/ USD % % Danske Bank A/S (MTN) -Reg- 2011/ USD % % Glencore Finance Canada Ltd -Reg- 2012/ USD % % DISH DBS Corp. 2008/ USD % % ING Bank NV -Reg- 2012/ USD % % Intesa Sanpaolo SpA 2014/ USD % % Quest Diagnostics, Inc. 2014/ USD % Total securities portfolio Derivatives (Minus signs denote short positions) Interest rate derivatives Receivables/payables Interest rate futures Germany Federal Republic Bonds 5 year 09/ EUR (XEUR)... Count US Treasury Notes 5 year Futures 09/ USD (CBT)... Count Currency derivatives Receivables/payables Currency futures (short) Open positions EUR/USD 31.6 million Closed positions EUR/USD 0.3 million Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in other EU/EEA currencies British pound... GBP Deposits in non-eu/eea currencies U.S. dollar.... USD

237 DWS Invest Short Duration Credit Count/ Quantity/ Purchases/ Sales/ Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets. Other assets Interest receivable Receivables from exceeding the expense cap Other receivables Receivables from share certificate transactions Total assets *** Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class LD... EUR Class NC.... EUR Number of shares outstanding Class FC... Count Class LC... Count Class LD... Count Class NC.... Count Composition of the reference portfolio (according to CSSF circular 11/512) 2.5% of portfolio value 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 June 30, 2014, using historical simulation with a 99% confidence level, a 10-day holding period and an effective historical observation period of one year. 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 absolute 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 derivatives 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 as of the reporting date. Market abbreviations Futures exchanges CBT = Chicago Board of Trade XEUR = Eurex Contracting parties for currency futures Deutsche Bank AG Frankfurt and State Street Bank and Trust Company 235

238 DWS Invest Short Duration Credit Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual 4.50 % Banco Bilbao Vizcaya Argentaria SA 2007/2022 * EUR % Credit Suisse Group Finance US, Inc. 2005/2020 * EUR % EP Energy AS-Reg- 2013/2018 EUR % Intesa Sanpaolo SpA -Reg- 2014/2019 * EUR % Veolia Environnement SA 2013/2049 * EUR % Société Générale SA (MTN) 2013/2049 * USD % Turkiye Halk Bankasi AS -Reg- 2014/2019 USD Total receivables from securities loans Contracting parties for securities loans Barclays Capital Securities Limited, Credit Suisse Securities (Europe) Ltd. FI, Deutsche Bank AG FI, Morgan Stanley Intl. FI and The Royal Bank of Scotland Plc. Total collateral pledged by third parties for securities loans EUR including: Equities EUR Other EUR Exchange rates (indirect quotes) As of June 30, 2014 British pound... GBP = EUR 1 U.S. dollar... USD = EUR 1 Notes on 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. Assets reported in this report are not valued at derived market values. Footnotes *) Floating interest rate. **) Some or all of these securities are lent. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 236

239 DWS Invest Short Duration Credit 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 Securities traded on an exchange Count/ units/ currency Purchases/ additions Sales/ disposals Interest-bearing securities % AIB Mortgage Bank (MTN) 2012/ EUR % Alliander NV 2013/2049 *... EUR % Autostrade SpA (MTN) 2004/ EUR % Bank of America Corp. 2005/ EUR % Bank of Ireland Mortgage Bank 2012/ EUR % BBVA Senior Finance SA 2012/2014. EUR % BNP Paribas SA (MTN) 2014/2026 *. EUR % FCE Bank Plc 2013/ EUR % Gazprom Neft OAO Via GPN Capital SA 2013/ EUR % Italfinance Securitisation Vehicle Srl 2007/2026 *... EUR % JP Morgan Chase & Co. (MTN) 2004/2019 *... EUR % Santander Consumer Finance 2012/ EUR % Santander International Debt SAU 2012/ EUR % Telecom Italia SpA (MTN) 2011/2016. EUR % Telefonica Emisiones SAU (MTN) 2007/ EUR % Telefonica Emisiones SAU 2012/2017 EUR % Telefonica Europe BV 2013/2049 *. EUR % Teollisuuden Voima Oyj (MTN) 2009/ EUR % Voto-Votorantim Ltd -Reg- 2010/ EUR % Barclays Bank Plc 2005/2049 *... GBP % RH International (Singapore) Corporation Pte. Ltd -Reg- 2014/2019 USD 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 (Underlyings: EURO BOBL, US Treasury Note 5-Year) EUR Currency futures (short) Futures contracts to sell currencies EUR/USD EUR Currency futures (long) Futures contracts to purchase currencies USD/EUR EUR 328 Securities admitted to or included in organized markets Interest-bearing securities 0.00 % BNP Paribas SA 2011/ USD % Turkiye Garanti Bank AS -Reg- 2014/ USD Unlisted securities Interest-bearing securities % Agrokor (MTN) 2009/ EUR

240 DWS Invest Stepln Akkumula Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities BHP Billiton Ltd.... Count AUD Bank of Nova Scotia... Count CAD Nestle SA -Reg-.... Count CHF Roche Holding AG.... Count CHF Swatch Group AG -B-... Count CHF Syngenta AG.... Count CHF Allianz SE -Reg-.... Count EUR Anheuser-Busch InBev NV.... Count EUR BASF SE... Count EUR Bayer AG.... Count EUR BNP Paribas.... Count EUR Continental AG... Count EUR Fresenius SE & Co. KGaA.... Count EUR ING Groep NV.... Count EUR Koninklijke Ahold NV.... Count EUR Linde AG.... Count EUR LVMH Moet Hennessy Louis Vuitton SA.... Count EUR Porsche Automobil Holding SE -Pref-.... Count EUR Royal Dutch Shell Plc -A-.... Count EUR Societe BIC SA.... Count EUR Unibail-Rodamco.... Count EUR Aggreko Plc.... Count GBP Barclays Plc.... Count GBP BG Group Plc.... Count GBP Croda International Plc... Count GBP IMI Plc.... Count GBP Next Plc.... Count GBP Old Mutual Plc.... Count GBP Reckitt Benckiser Group Plc.... Count GBP Unilever Plc.... Count GBP AIA Group Ltd.... Count HKD China Mobile Ltd.... Count HKD Samsonite International SA.... Count HKD SJM Holdings Ltd.... Count HKD Fanuc Corp... Count JPY Japan Tobacco, Inc.... Count JPY Komatsu Ltd... Count JPY Makita Corp.... Count JPY NTT DoCoMo, Inc.... Count JPY Rakuten, Inc... Count JPY Toyota Motor Corp... Count JPY Samsung Electronics Co., Ltd.... Count KRW Svenska Cellulosa AB.... Count SEK Aetna, Inc... Count USD Alliance Data Systems Corp.... Count USD Anadarko Petroleum Corp.... Count USD Aon Plc... Count USD Autozone, Inc... Count USD Baxter International, Inc... Count USD Biogen Idec, Inc..... Count USD Celgene Corp..... Count USD CF Industries Holdings, Inc.... Count USD Chevron Corp... Count USD Citigroup, Inc.... Count USD Cognizant Technology Solutions Corp..... Count USD Colgate-Palmolive Co... Count USD Cooper Cos, Inc..... Count USD CR Bard, Inc... Count 750 USD Cummins, Inc... Count USD CVS Caremark Corp..... Count USD Deere & Co.... Count USD Discover Financial Services.... Count USD Dover Corp... Count USD ebay, Inc.... Count USD Fifth Third Bancorp.... Count USD FNF Group.... Count USD FNFV Group.... Count USD Garmin Ltd... Count USD Gilead Sciences, Inc... Count USD Google, Inc... Count USD Google, Inc. -A-.... Count USD Halliburton Co.... Count USD Honeywell International, Inc.... Count USD JP Morgan Chase & Co..... Count USD LyondellBasell Industries NV.... Count USD McDonald s Corp..... Count USD Microsoft Corp... Count USD Moody s Corp.... Count USD NASDAQ OMX Group, Inc... Count USD National Oilwell Varco, Inc... Count USD NeuStar, Inc..... Count USD

241 DWS Invest Stepln Akkumula Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Nielsen Holdings NV... Count USD Occidental Petroleum Corp.... Count USD Oracle Corp.... Count USD Philip Morris International, Inc..... Count USD PNC Financial Services Group, Inc.... Count USD Potash Corp. of Saskatchewan, Inc... Count USD Praxair, Inc..... Count USD priceline.com, Inc... Count USD Prudential Financial, Inc..... Count USD Qualcomm, Inc... Count USD Regeneron Pharmaceuticals, Inc..... Count USD Rock-Tenn Co. -A-.... Count USD Roper Industries, Inc.... Count 750 USD Sberbank of Russia -ADR-.... Count USD The Middleby Corp.... Count USD TJX Cos, Inc... Count USD Union Pacifique Corp..... Count USD United Technologies Corp..... Count USD Visa, Inc. -A-.... Count USD Wal-Mart Stores, Inc.... Count USD Walt Disney Co.... Count USD Wells Fargo & Co... Count USD Naspers Ltd -N-.... Count ZAR Total securities portfolio Derivatives (Minus signs denote short positions) Currency derivatives Receivables/payables Currency futures (short) Open positions EUR/CHF 0.3 million EUR/HKD 2.8 million EUR/JPY 1.8 million EUR/USD 0.1 million Closed positions EUR/USD 0.2 million Currency futures (long) Open positions AUD/EUR 0.7 million CAD/EUR 0.9 million DKK/EUR 0.6 million GBP/EUR 0.4 million ILS/EUR 0.1 million SEK/EUR 1.3 million Cash at bank Demand deposits at Custodian EUR deposits.... EUR Deposits in other EU/EEA currencies Danish krone.... DKK Norwegian krone.... NOK Swedish krona.... SEK Deposits in non-eu/eea currencies.. Australian dollar.... AUD Hong Kong dollar... HKD Japanese yen... JPY Canadian dollar... CAD Swiss franc.... CHF Singapore dollar... SGD South African rand.... ZAR South Korean won.... KRW U.S. dollar.... USD Other assets Dividends receivable Receivables from exceeding the expense cap Other receivables Total assets ***

242 DWS Invest Stepln Akkumula Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Short-term liabilities Loans in other EU/EEA currencies British pound... GBP Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 BC... EUR Class LC... EUR Number of shares outstanding Class BC... Count Class LC... Count Composition of the reference portfolio (according to CSSF circular 11/512) MSCI THE WORLD INDEX in EUR Constituents 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 June 30, 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 0.2, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Market abbreviations Contracting parties for currency futures Deutsche Bank AG Frankfurt and State Street Bank and Trust Company Exchange rates (indirect quotes) As of June 30, Australian dollar.... AUD = EUR 1 Canadian dollar... CAD = EUR 1 Swiss franc.... CHF = EUR 1 Danish krone.... DKK = EUR 1 British pound... GBP = EUR 1 Hong Kong dollar... HKD = EUR 1 Israeli shekel.... ILS = EUR 1 Japanese yen... JPY = EUR 1 South Korean won.... KRW = EUR 1 Norwegian krone.... NOK = EUR 1 Swedish krona.... SEK = EUR 1 Singapore dollar... SGD = EUR 1 U.S. dollar.... USD = EUR 1 South African rand.... ZAR = EUR 1 240

243 DWS Invest Stepln Akkumula Notes on 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. Assets reported in this report are not valued at derived market values. Footnotes ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 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 Securities traded on an exchange Count/ units/ currency Purchases/ additions Sales/ disposals Equities Aggreko Plc... Count Amgen, Inc.... Count Fidelity National Financial, Inc. -A-... Count Knowles Corp.... Count Koninklijke Ahold NV... Count NOW, Inc.... Count Tesco Plc... Count Volkswagen AG -Pref-... Count 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) Equity index futures Contracts sold (Underlying: Topix) EUR 266 Currency futures (short) Futures contracts to sell currencies EUR/AUD EUR 59 EUR/CHF EUR EUR/DKK EUR 70 EUR/GBP EUR 372 EUR/HKD EUR EUR/JPY EUR 813 EUR/SEK EUR 87 EUR/USD EUR Currency futures (long) Futures contracts to purchase currencies AUD/EUR EUR CAD/EUR EUR CHF/EUR EUR 498 DKK/EUR EUR 296 GBP/EUR EUR HKD/EUR EUR 152 ILS/EUR EUR 117 JPY/EUR EUR SEK/EUR EUR 640 USD/EUR EUR

244 DWS Invest Top Asia (formerly: DWS Invest Top 50 Asia) Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Rio Tinto Ltd.... Count AUD AIA Group Ltd.... Count HKD Anhui Conch Cement Co., Ltd -H-.... Count HKD China CNR Corp., Ltd... Count HKD China Construction Bank Corp. -H-.... Count HKD China Merchants Bank Co., Ltd -H-.... Count HKD China Mobile Ltd.... Count HKD China Overseas Land & Investment Ltd.... Count HKD China Unicom Hong Kong Ltd.... Count HKD Chow Tai Fook Jewellery Group Ltd.... Count HKD CITIC Securities Co., Ltd.... Count HKD Haitong Securities Co., Ltd... Count HKD Hutchison Whampoa Ltd.... Count HKD Industrial & Commercial Bank of China -H-.... Count HKD L Occitane International SA.... Count HKD PetroChina Co., Ltd.... Count HKD Ping An Insurance Group Co. of China Ltd.... Count HKD Samsonite International SA.... Count HKD Sands China Ltd... Count HKD Techtronic Industries Co. -H-.... Count HKD Tencent Holdings Ltd... Count HKD Astra International Tbk PT.... Count IDR Bank Rakyat Indonesia Persero Tbk PT... Count IDR ICICI Bank Ltd.... Count INR ITC Ltd.... Count INR Larsen & Toubro Ltd.... Count INR Bridgestone Corp... Count JPY Fanuc Corp... Count JPY Hitachi Ltd.... Count JPY Japan Tobacco, Inc.... Count JPY Komatsu Ltd... Count JPY Mitsubishi Estate Co., Ltd.... Count JPY Mitsubishi UFJ Financial Group, Inc.... Count JPY ORIX Corp.... Count JPY Seven & I Holdings Co., Ltd.... Count JPY Toyota Motor Corp... Count JPY Hynix Semiconductor, Inc.... Count KRW Hyundai Mobis... Count KRW Hyundai Motor Co.... Count KRW KT&G Corp... Count KRW LG Chem Ltd.... Count KRW Samsung Electronics Co., Ltd.... Count KRW Shinhan Financial Group Co., Ltd... Count KRW Metropolitan Bank & Trust... Count PHP DBS Group Holdings Ltd.... Count SGD SembCorp Marine Ltd.... Count SGD Singapore Telecommunications Ltd.... Count SGD Bangkok Bank PCL.... Count THB Baidu, Inc. -ADR-.... Count USD Hon Hai Precision Industry Co., Ltd -GDR Reg... Count USD Taiwan Semiconductor Manufacturing Co., Ltd -ADR-.... Count USD Certificates JP Morgan - Uni-President Enterprises Co. Certificate.... Count USD Investment fund units In-group fund units db x-trackers FTSE Vietnam UCITS ETF (0.650%).... Units EUR db x-trackers FTSE Vietnam UCITS ETF (0.650%).... Units USD Total securities portfolio Derivatives (Minus signs denote short positions) Derivatives on individual securities Warrants on securities Equity warrants Bharti Airtel Ltd 24/01/ Count USD Uni-President Enterprises Corp. 24/04/ Count USD Uni-President Enterprises Corp. 27/04/ Count USD Cash at bank

245 DWS Invest Top Asia (formerly: DWS Invest Top 50 Asia) Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Demand deposits at Custodian EUR deposits.... EUR Deposits in other EU/EEA currencies British pound... GBP Deposits in non-eu/eea currencies.. Australian dollar.... AUD Hong Kong dollar... HKD Indian rupee.... INR Indonesian rupiah... IDR Japanese yen... JPY Philippine peso... PHP Singapore dollar... SGD South Korean won.... KRW Thai baht.... THB U.S. dollar.... USD Other assets Dividends receivable Receivables from exceeding the expense cap Receivables from share certificate transactions Total assets Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class LD... EUR Class NC.... EUR Class GBP RD.... GBP Class USD FC.... USD Class USD LC.... USD Number of shares outstanding Class FC... Count Class LC... Count Class LD... Count Class NC.... Count Class GBP RD.... Count 651 Class USD FC.... Count Class USD LC.... Count Composition of the reference portfolio (according to CSSF circular 11/512) 50% MSCI AC FAR EAST ex JAPAN Constituents, 50% MSCI AC FAR EAST in EUR Constituents Market risk exposure (value-at-risk) (according to CSSF circular 11/512) Lowest market risk exposure.... % Highest market risk exposure.... % Average market risk exposure... %

246 DWS Invest Top Asia (formerly: DWS Invest Top 50 Asia) The values-at-risk were calculated for the period from January 1, 2014, through June 30, 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 0.1, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Exchange rates (indirect quotes) As of June 30, 2014 Australian dollar... AUD = EUR 1 British pound... GBP = EUR 1 Hong Kong dollar... HKD = EUR 1 Indonesian rupiah... IDR = EUR 1 Indian rupee... INR = EUR 1 Japanese yen... JPY = EUR 1 South Korean won... KRW = EUR 1 Philippine peso... PHP = EUR 1 Singapore dollar... SGD = EUR 1 Thai baht... THB = EUR 1 U.S. dollar... USD = EUR 1 Notes on 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. Assets reported in this report are not 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. 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/ units/ currency Purchases/ additions Sales/ disposals Securities traded on an exchange Equities Beijing Enterprises Holdings Ltd... Count Cheung Kong Holdings Ltd... Count China Life Insurance Co., Ltd -H-... Count China Railway Group Ltd... Count China Shenhua Energy Co., Ltd -H-... Count CNOOC Ltd... Count Cosco Pacific Ltd... Count Great Wall Motor Co., Ltd -H-... Count Melco PBL Entertainment Macau Ltd -ADR-... Count Tencent Holdings Ltd... Count Tencent Holdings Ltd... Count

247 DWS Invest Top Dividend Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Woodside Petroleum Ltd... Count AUD Bank of Nova Scotia **.... Count CAD BCE, Inc. **.... Count CAD Canadian Imperial Bank of Commerce **.... Count CAD Canadian Oil Sands Ltd.... Count CAD Enbridge, Inc. **.... Count CAD Toronto-Dominion Bank **.... Count CAD TransCanada Corp. **.... Count CAD Nestle SA -Reg- **.... Count CHF Novartis AG -Reg-.... Count CHF Roche Holding AG.... Count CHF Air Liquide SA.... Count EUR Allianz SE -Reg- **... Count EUR Anheuser-Busch InBev NV.... Count EUR Fuchs Petrolub AG... Count EUR Fuchs Petrolub AG... Count EUR Hannover Rueckversicherung AG -Reg- **.... Count EUR Henkel AG & Co. KGaA -Pref-.... Count EUR Jungheinrich AG -Pref- **.... Count EUR Muenchener Rueckversicherungs AG -Reg- **.... Count EUR Royal Dutch Shell Plc -A-.... Count EUR Sampo Oyj -A-.... Count EUR Sanofi.... Count EUR Schneider Electric SA.... Count EUR Unibail-Rodamco.... Count EUR Unilever NV.... Count EUR Wincor Nixdorf AG... Count EUR Wolters Kluwer NV.... Count EUR BAE Systems Plc.... Count GBP British American Tobacco Plc.... Count GBP British Sky Broadcasting Group Plc.... Count GBP GlaxoSmithKline Plc... Count GBP Imperial Tobacco Group Plc... Count GBP Pearson Plc.... Count GBP Reckitt Benckiser Group Plc.... Count GBP Smiths Group Plc.... Count GBP Nippon Telegraph & Telephone Corp.... Count JPY KT&G Corp... Count KRW Gjensidige Forsikring BA.... Count NOK Telenor ASA... Count NOK Yara International ASA.... Count NOK Powszechny Zaklad Ubezpieczen SA.... Count PLN Swedbank AB.... Count SEK Singapore Post Ltd.... Count SGD Chunghwa Telecom Co., Ltd.... Count TWD Altria Group, Inc..... Count USD Automatic Data Processing, Inc... Count USD Baxter International, Inc... Count USD Bemis Co., Inc..... Count USD Chevron Corp... Count USD Chunghwa Telecom Co., Ltd -ADR-... Count USD Cisco Systems, Inc. **.... Count USD Coca-Cola Co. **.... Count USD ConocoPhillips.... Count USD Dominion Resources, Inc... Count USD Duke Energy Corp.... Count USD Genuine Parts Co... Count USD Johnson & Johnson **.... Count USD McDonald s Corp. **.... Count USD Merck & Co., Inc.... Count USD Microsoft Corp... Count USD NextEra Energy, Inc..... Count USD Pfizer, Inc. **.... Count USD PG&E Corp... Count USD Philip Morris International, Inc..... Count USD Procter & Gamble Co... Count USD Raytheon Co.... Count USD Sonoco Products Co.... Count USD Taiwan Semiconductor Manufacturing Co., Ltd -ADR-.... Count USD UGI Corp.... Count USD Verizon Communications, Inc. **.... Count USD Wisconsin Energy Corp..... Count USD Total securities portfolio

248 DWS Invest Top Dividend Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Derivatives (Minus signs denote short positions) Currency derivatives Receivables/payables Currency futures (short) Open positions CHF/CAD 14.8 million CHF/HKD 0.1 million CHF/NOK 27.2 million CHF/SEK 13.3 million CHF/SGD 3.6 million EUR/AUD 0.1 million EUR/CAD 1.7 million EUR/GBP 0.9 million EUR/HKD 0.1 million EUR/JPY 37.6 million EUR/NOK 3.2 million EUR/SEK 1.5 million USD/AUD 0.5 million USD/CAD 6.7 million USD/GBP 3.7 million USD/HKD 0.1 million USD/JPY 152 million USD/NOK 12.2 million USD/SEK 5.8 million Closed positions AUD/CHF 0.1 million AUD/SGD 0.1 million CAD/SGD 0.1 million CHF/CAD 0.2 million CHF/HKD 0.1 million CHF/NOK 0.4 million CHF/SEK 0.2 million CHF/SGD 0.9 million EUR/AUD 0.1 million EUR/CHF 3.4 million EUR/SGD 1.4 million EUR/USD 8.3 million GBP/CHF 0.2 million GBP/SGD 0.1 million HKD/SGD 0.1 million JPY/CHF 0.1 million JPY/SGD 0.1 million NOK/SGD 0.1 million SEK/SGD 0.1 million USD/CHF 5.2 million USD/SGD 2.3 million Currency futures (long) Open positions CHF/AUD 1 million CHF/EUR 24.8 million CHF/GBP 12.5 million CHF/JPY 3.1 million CHF/USD 43.2 million SGD/AUD 0.1 million SGD/CAD 1 million SGD/EUR 1.5 million SGD/GBP 0.9 million SGD/HKD 0.1 million SGD/JPY 0.2 million SGD/NOK 0.3 million SGD/SEK 0.1 million SGD/USD 1.8 million USD/EUR 7.2 million Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in other EU/EEA currencies British pound... GBP Norwegian krone... NOK Polish zloty... PLN Swedish krona... SEK Hungarian forint... HUF

249 DWS Invest Top Dividend Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Deposits in non-eu/eea currencies.. Australian dollar.... AUD Hong Kong dollar... HKD Japanese yen... JPY Canadian dollar... CAD New Taiwan dollar.... TWD Swiss franc.... CHF Singapore dollar... SGD South Korean won.... KRW U.S. dollar.... USD Other assets Dividends receivable Receivables from exceeding the expense cap Other receivables Receivables from share certificate transactions Total assets *** Other liabilities Liabilities from cost items Additional other liabilities Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 CHF FCH (P)... CHF Class CHF LCH (P)... CHF Class FC... EUR Class FD... EUR Class IDH (P).... EUR Class LC... EUR Class LD... EUR Class NC.... EUR Class ND.... EUR Class PFC... EUR Class PFD... EUR Class GBP LD DS... GBP Class GBP RD.... GBP Class SGD LC.... SGD Class SGD LCH (P)... SGD Class SGD LDQ.... SGD Class SGD LDQH (P).... SGD Class USD FC.... USD Class USD LC.... USD Class USD LCH (P)... USD Class USD LDH (P).... USD Class USD LDQ.... USD Number of shares outstanding Class CHF FCH (P)... Count Class CHF LCH (P)... Count Class FC... Count Class FD... Count Class IDH (P).... Count Class LC... Count Class LD... Count Class NC.... Count Class ND.... Count Class PFC... Count Class PFD... Count Class GBP LD DS... Count Class GBP RD.... Count Class SGD LC.... Count Class SGD LCH (P)... Count Class SGD LDQ.... Count Class SGD LDQH (P).... Count Class USD FC.... Count Class USD LC.... Count Class USD LCH (P)... Count Class USD LDH (P).... Count Class USD LDQ.... Count

250 DWS Invest Top Dividend Composition of the reference portfolio (according to CSSF circular 11/512) MSCI World High Dividend Yield in EUR Constituents 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 June 30, 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 0.0, whereby the total of the nominal amounts of the derivatives 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. Does not include any forward currency transactions entered into for currency hedging purposes at the level of the share classes. Market abbreviations Contracting party for currency futures State Street Bank and Trust Company Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual Allianz SE -Reg- Count Bank of Nova Scotia Count BCE, Inc. Count Canadian Imperial Bank of Commerce Count Cisco Systems, Inc. Count Coca-Cola Co. Count Enbridge, Inc. Count Hannover Rueckversicherung AG -Reg- Count Johnson & Johnson Count Jungheinrich AG -Pref- Count McDonald s Corp. Count Muenchener Rueckversicherungs AG -Reg- Count Nestle SA -Reg- Count Pfizer, Inc. Count Toronto-Dominion Bank Count TransCanada Corp. Count Verizon Communications, Inc. Count Total receivables from securities loans Contracting parties for securities loans BNP Paribas Arbitrage SNC, Credit Suisse Securities (Europe) Ltd. EQ, Merrill Lynch International, Nomura International Plc, Société Générale and UBS AG London Branch. Total collateral pledged by third parties for securities loans EUR including: Equities EUR Other EUR Exchange rates (indirect quotes) As of June 30, Australian dollar.... AUD = EUR 1 Canadian dollar... CAD = EUR 1 Swiss franc.... CHF = EUR 1 British pound... GBP = EUR 1 Hong Kong dollar... HKD = EUR 1 Hungarian forint.... HUF = EUR 1 Japanese yen... JPY = EUR 1 South Korean won.... KRW = EUR 1 Norwegian krone.... NOK = EUR 1 Polish zloty... PLN = EUR 1 Swedish krona.... SEK = EUR 1 Singapore dollar... SGD = EUR 1 New Taiwan dollar.... TWD = EUR 1 U.S. dollar.... USD = EUR 1 248

251 DWS Invest Top Dividend Notes on 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. Assets reported in this report are not valued at derived market values. Footnotes **) Some or all of these securities are lent. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 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 Securities traded on an exchange Count/ units/ currency Purchases/ additions Sales/ disposals Equities Accenture Plc... Count Air Liquide -Rights Exp 02Jun Count AT&T, Inc..... Count BASF SE... Count Franco-Nevada Corp... Count KDDI Corp.... Count Koninklijke Ahold NV.... Count Koninklijke Ahold NV.... Count Lawson, Inc.... Count Linde AG.... Count Northrop Grumman Corp..... Count NTT DoCoMo, Inc.... Count Siemens AG -Reg-.... Count United Parcel Service, Inc. -B-.... Count Wal-Mart Stores, Inc.... Count 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 (short) Value ( 000) Futures contracts to sell currencies AUD/CHF EUR AUD/SGD EUR 187 CAD/SGD EUR CHF/CAD EUR CHF/HKD EUR 16 CHF/NOK EUR CHF/SEK EUR CHF/SGD EUR EUR/AUD EUR 82 EUR/CAD EUR EUR/CHF EUR EUR/GBP EUR EUR/HKD EUR 1 EUR/JPY EUR 286 EUR/NOK EUR 387 EUR/SEK EUR 166 EUR/SGD EUR EUR/USD EUR GBP/CHF EUR GBP/SGD EUR HKD/SGD EUR 1 JPY/CHF EUR JPY/SGD EUR 556 NOK/SGD EUR 806 SEK/SGD EUR 399 USD/AUD EUR USD/CAD EUR USD/CHF EUR USD/GBP EUR USD/HKD EUR 5 USD/JPY EUR USD/NOK EUR USD/SEK EUR USD/SGD EUR Derivatives (option premiums realized in opening transactions, or total options transactions; in the case of warrants, purchases and sales are shown) Currency futures (long) Futures contracts to purchase currencies AUD/EUR EUR 83 AUD/USD EUR CAD/CHF EUR CAD/EUR EUR CAD/USD EUR CHF/AUD EUR CHF/EUR EUR CHF/GBP EUR CHF/JPY EUR CHF/USD EUR GBP/EUR EUR GBP/USD EUR HKD/CHF EUR 13 HKD/EUR EUR 1 HKD/USD EUR 4 JPY/EUR EUR 288 JPY/USD EUR NOK/CHF EUR NOK/EUR EUR 389 NOK/USD EUR SEK/CHF EUR SEK/EUR EUR 167 SEK/USD EUR SGD/AUD EUR 224 SGD/CAD EUR SGD/CHF EUR SGD/EUR EUR SGD/GBP EUR SGD/HKD EUR 1 SGD/JPY EUR 680 SGD/NOK EUR 911 SGD/SEK EUR 475 SGD/USD EUR USD/EUR EUR

252 DWS Invest Top Dividend Premium Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Woodside Petroleum Ltd... Count AUD Bank of Nova Scotia... Count CAD BCE, Inc..... Count CAD Canadian Imperial Bank of Commerce.... Count CAD Canadian Oil Sands Ltd.... Count CAD Enbridge, Inc.... Count CAD Toronto-Dominion Bank.... Count CAD TransCanada Corp.... Count CAD Nestle SA -Reg-.... Count CHF Novartis AG -Reg-.... Count CHF Roche Holding AG.... Count CHF Air Liquide SA.... Count EUR Allianz SE -Reg-.... Count EUR Anheuser-Busch InBev NV.... Count EUR Fuchs Petrolub AG... Count EUR Fuchs Petrolub AG... Count EUR Hannover Rueckversicherung AG -Reg-.... Count EUR Henkel AG & Co. KGaA -Pref-.... Count EUR Jungheinrich AG -Pref-... Count EUR Muenchener Rueckversicherungs AG -Reg-.... Count EUR Royal Dutch Shell Plc -A-.... Count EUR Sampo Oyj -A-.... Count EUR Sanofi.... Count EUR Schneider Electric SA.... Count EUR Unibail-Rodamco.... Count EUR Unilever NV.... Count EUR Wincor Nixdorf AG... Count EUR Wolters Kluwer NV.... Count EUR BAE Systems Plc.... Count GBP British American Tobacco Plc.... Count GBP British Sky Broadcasting Group Plc.... Count GBP GlaxoSmithKline Plc... Count GBP Imperial Tobacco Group Plc... Count GBP Pearson Plc.... Count GBP Reckitt Benckiser Group Plc.... Count GBP Smiths Group Plc.... Count GBP Nippon Telegraph & Telephone Corp.... Count JPY KT&G Corp... Count KRW Gjensidige Forsikring BA.... Count NOK Telenor ASA... Count NOK Yara International ASA.... Count NOK Powszechny Zaklad Ubezpieczen SA.... Count PLN Swedbank AB.... Count SEK Singapore Post Ltd.... Count SGD Altria Group, Inc..... Count USD AT&T, Inc..... Count USD Automatic Data Processing, Inc... Count USD Baxter International, Inc... Count USD Bemis Co., Inc..... Count USD Chevron Corp... Count USD Chunghwa Telecom Co., Ltd -ADR-... Count USD Cisco Systems, Inc.... Count USD Coca-Cola Co.... Count USD ConocoPhillips.... Count USD Dominion Resources, Inc... Count USD Duke Energy Corp.... Count USD Genuine Parts Co... Count USD Johnson & Johnson.... Count USD McDonald s Corp..... Count USD Merck & Co., Inc.... Count USD Microsoft Corp... Count USD NextEra Energy, Inc..... Count USD Pfizer, Inc..... Count USD PG&E Corp... Count USD Philip Morris International, Inc..... Count USD Procter & Gamble Co... Count USD Raytheon Co.... Count USD Sonoco Products Co.... Count USD Taiwan Semiconductor Manufacturing Co., Ltd -ADR-.... Count USD UGI Corp.... Count USD Verizon Communications, Inc.... Count USD Wisconsin Energy Corp..... Count USD Total securities portfolio

253 DWS Invest Top Dividend Premium Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Derivatives (Minus signs denote short positions) Derivatives on individual securities Securities options Receivables/payables Equity options Call Altria 07/ USD (OPQ).... Count Call Anheuser-Bush Inbev 07/ EUR (XEUR).... Count Call AT&T 06/ USD (OPQ)... Count Call Baxter International 07/ USD (OPQ).... Count Call Bristish Sky Broadcasting 07/ GBP (XLIF)... Count Call Canadian Imperial Bank of Commerce 07/ CAD (XMOD).... Count Call Cisco Systems 07/ USD (OPQ).... Count Call Coca-Cola 07/ USD (OPQ).... Count Call ConocoPhilips 07/ USD (OPQ).... Count Call Dominion Resources 07/ USD (OPQ).... Count Call Duke Energy 07/ USD (OPQ).... Count Call Hannover Rueck 12/ EUR (XEUR).... Count Call Johnson & Johnson 07/ USD (OPQ).... Count Call Merck & Co. 07/ USD (OPQ).... Count Call Microsoft 07/ USD (OPQ).... Count Call Nextera Energy 07/ USD (OPQ)... Count Call Reckitt Benckiser 07/ GBP (XLIF).... Count Call Sanofi 07/ EUR (XEUR).... Count Call Unilever 07/ EUR (XEUR)... Count Call Wincor Nixdorf 07/ EUR (XEUR).... Count Call Wolters Kluwer 07/ EUR (XEUR).... Count Call Yara International 07/ NOK (XOSL).... Count Put Deutsche Lufthansa 07/ EUR (XEUR).... Count Equity index derivatives Receivables/payables Option contracts Options on equity indices Call Dax Index 07/ EUR (XEUR)... Count Call Euro Stoxx 50 Index 07/ EUR (XEUR)... Count Call Euro Stoxx 50 Index 07/ EUR (XEUR)... Count Call Nikkei / JPY (OTC).... Count Call S&P 500 Index 07/ USD (OPQ).... Count Call S&P 500 Index 07/ USD (OPQ).... Count Put Euro Stoxx 50 Index 09/ EUR (XEUR)... Count Put Euro Stoxx 50 Index 09/ EUR (XEUR)... Count Cash at bank Demand deposits at Custodian EUR deposits.... EUR Deposits in other EU/EEA currencies British pound... GBP Norwegian krone.... NOK Polish zloty... PLN Swedish krona.... SEK Deposits in non-eu/eea currencies.. Australian dollar.... AUD Hong Kong dollar... HKD Japanese yen... JPY Canadian dollar... CAD Swiss franc.... CHF Singapore dollar... SGD South African rand.... ZAR South Korean won.... KRW U.S. dollar.... USD Other assets Dividends receivable Receivables from exceeding the expense cap Other receivables Receivables from share certificate transactions Total assets ***

254 DWS Invest Top Dividend Premium Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Other liabilities Liabilities from cost items Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class LD... EUR Class ND.... EUR Class NDQ.... EUR Class USD LC.... USD Number of shares outstanding Class FC... Count Class LC... Count Class LD... Count Class ND.... Count 522 Class NDQ.... Count 544 Class USD LC.... Count 40 Composition of the reference portfolio (according to CSSF circular 11/512) MSCI THE WORLD INDEX in EUR Constituents 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 June 30, 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 0.5, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Market abbreviations Futures exchanges OPQ = Options Price Reporting Authority BBO OTC = OTCBB XEUR = Eurex XLIF = NYSE Euronext Liffe XMOD = The Montreal Exchange XOSL = Oslo Stock Exchange Exchange rates (indirect quotes) As of June 30, Australian dollar.... AUD = EUR 1 Canadian dollar... CAD = EUR 1 Swiss franc.... CHF = EUR 1 British pound... GBP = EUR 1 Hong Kong dollar... HKD = EUR 1 Japanese yen... JPY = EUR 1 South Korean won.... KRW = EUR 1 Norwegian krone.... NOK = EUR 1 Polish zloty... PLN = EUR 1 Swedish krona.... SEK = EUR 1 Singapore dollar... SGD = EUR 1 U.S. dollar.... USD = EUR 1 South African rand.... ZAR = EUR 1 252

255 DWS Invest Top Dividend Premium Notes on 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. Assets reported in this report are not valued at derived market values. Footnotes ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 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 Securities traded on an exchange Count/ units/ currency Purchases/ additions Sales/ disposals Equities Accenture Plc... Count Air Liquide -Rights Exp 02Jun14... Count Air Liquide SA... Count Anheuser-Busch InBev NV... Count BASF SE... Count 800 Franco-Nevada Corp.... Count KDDI Corp.... Count Koninklijke Ahold NV... Count Koninklijke Ahold NV... Count Lawson, Inc.... Count Linde AG... Count Northrop Grumman Corp.... Count NTT DoCoMo, Inc.... Count Royal Dutch Shell Plc... Count Sampo Oyj... Count Sanofi -Reg-... Count Schneider Electric SA... Count Unibail-Rodamco SE... Count Unilever NV... Count United Parcel Service, Inc. -B-... Count Wal-Mart Stores, Inc.... Count Wolters Kluwer NV -Reg-... Count Derivatives (option premiums realized in opening transactions, or total options transactions; in the case of warrants, purchases and sales are shown) Derivatives (option premiums realized in opening transactions, or total options transactions; in the case of warrants, purchases and sales are shown) Put options purchased (Underlyings: Allianz, Anheuser-Busch InBev, Coca-Cola, Henkel, Linde, Schneider Electric, Unibail Rodamco, Unilever, Wincor Nixdorf) EUR 20 Call options sold (Underlyings: Henkel, Johnson & Johnson, Novartis) EUR 26 Options on equity index derivatives Options on equity indices Call options purchased (Underlyings: Dax, DJ Euro Stoxx 50, DJ Euro Stoxx Banks, FTSE 100, S&P 500) EUR Put options purchased (Underlyings: DJ Euro Stoxx 50, DJ Euro Stoxx Banks, FTSE 100) EUR 67 Call options sold (Underlyings: Dax, DJ Euro Stoxx 50, DJ Euro Stoxx Banks, DJ Stoxx 600, FTSE 100, S&P 500) EUR 860 Put options sold (Underlyings: Dax, DJ Euro Stoxx 50, DJ Euro Stoxx Banks, FTSE 100) EUR 115 Option contracts Value ( 000) Securities options Equity options Call options purchased (Underlyings: Accenture, Air Liquide, Allianz, Altria, Anheuser-Busch InBev, AT+T, Automatic Data Processing, Bae Systems, BASF, Baxter International, BCE, Bemis, British American Tobacco, British Sky Broadcasting Group, Canadian Imperial Bank of Commerce, Canadian Oil Sands, Chevron, Cisco Systems, Coca-Cola, Dominion Resources, Duke Energy, Enbridge, Franco Nevada, Fuchs Petrolub, Genuine Parts, Gjensidige Forsikring, GlaxoSmithKline, Hannover Rueckversicherung, Henkel, Imperial Tobacco, Johnson & Johnson, Linde, Merck & Co., Microsoft, MSCI World Index, Muenchener Rueckversicherungs, Nestle, Nextera, Northrop Grumman, Novartis, Pearson, Pfizer, Philip Morris International, Powszechny Zaklad Ubezpieczen, Procter & Gamble, Raytheon, Reckitt, Roche Holding, Royal Dutch Shell, Sampo OYJ, Sanofi, Schneider Electric, Smiths, Sonoco Products, Toronto Dominion Bank, Unibail Rodamco, Unilever, United Parcel Service, Verizon Communications, Wal Mart Stores, Wincor Nixdorf, Wolter Kluwer) EUR

256 DWS Invest Top Euroland Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Alcatel-Lucent -A-... Count EUR Allianz SE -Reg-.... Count EUR Anheuser-Busch InBev NV.... Count EUR ASML Holding NV **... Count EUR AXA SA.... Count EUR Banco Bilbao Vizcaya Argentaria SA.... Count EUR Banco Santander SA.... Count EUR Bankinter SA.... Count EUR BASF SE... Count EUR Bayer AG.... Count EUR Bayerische Motoren Werke AG... Count EUR Beiersdorf AG **.... Count EUR BNP Paribas.... Count EUR Christian Dior SA.... Count EUR Cie de Saint-Gobain.... Count EUR CRH Plc.... Count EUR Criteria Caixacorp SA.... Count EUR Daimler AG... Count EUR Deutsche Bank AG -Reg-... Count EUR Deutsche Post AG -Reg-.... Count EUR Deutsche Telekom AG -Reg-.... Count EUR Dialog Semiconductor Plc.... Count EUR Elior SCA.... Count EUR European Aeronautic Defence and Space Co. NV... Count EUR Ferrovial SA.... Count EUR Fresenius SE & Co. KGaA.... Count EUR GDF Suez... Count EUR GEA Group AG... Count EUR Gemalto NV **.... Count EUR HeidelbergCement AG... Count EUR Henkel AG & Co. KGaA -Pref- **... Count EUR Inditex SA... Count EUR Infineon Technologies AG **... Count EUR ING Groep NV.... Count EUR Intesa Sanpaolo SpA.... Count EUR Jazztel Plc.... Count EUR KBC Groep NV.... Count EUR KION Group AG.... Count EUR Legrand SA.... Count EUR Linde AG.... Count EUR L Oreal SA.... Count EUR Luxottica Group SpA **... Count EUR Mapfre SA.... Count EUR NH Hoteles SA... Count EUR Renault SA.... Count EUR Repsol YPF SA... Count EUR Safran SA.... Count EUR Sampo Oyj -A-.... Count EUR Schneider Electric SA.... Count EUR SES SA... Count EUR Siemens AG -Reg-.... Count EUR Société Générale.... Count EUR Stora Enso Oyj -R-.... Count EUR Unibail-Rodamco.... Count EUR Unipol Gruppo Finanziario SpA.... Count EUR United Internet AG -Reg-.... Count EUR Volkswagen AG -Pref-.... Count EUR Yoox SpA **.... Count EUR Total securities portfolio Derivatives (Minus signs denote short positions) Equity index derivatives Receivables/payables Equity index futures DJ EURO STOXX 50 Index Futures 09/ EUR (XEUR).... Count Currency derivatives Receivables/payables 254

257 DWS Invest Top Euroland Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Currency futures (long) Open positions SGD/EUR 0.1 million SGD/GBP 0.1 million SGD/SEK 0.1 million USD/EUR 45.7 million Closed positions SGD/EUR 0.1 million USD/EUR 1.1 million Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in other EU/EEA currencies British pound... GBP Swedish krona... SEK Other assets Dividends receivable Other receivables Receivables from share certificate transactions Total assets *** Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class IC... EUR Class LC... EUR Class LD... EUR Class NC... EUR Class PFC... EUR Class GBP RD... GBP Class SGD LCH (P)... SGD 9.82 Class USD LCH... USD Number of shares outstanding Class FC... Count Class IC... Count Class LC... Count Class LD... Count Class NC... Count Class PFC... Count Class GBP RD... Count 393 Class SGD LCH (P)... Count Class USD LCH... Count Composition of the reference portfolio (according to CSSF circular 11/512) EURO STOXX 50 Constituents Market risk exposure (value-at-risk) (according to CSSF circular 11/512) Lowest market risk exposure... % Highest market risk exposure... % Average market risk exposure... %

258 DWS Invest Top Euroland The values-at-risk were calculated for the period from January 1, 2014, through June 30, 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 0.1, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Does not include any forward currency transactions entered into for currency hedging purposes at the level of the share classes. Market abbreviations Futures exchanges XEUR = Eurex Contracting party for currency futures State Street Bank and Trust Company Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual ASML Holding NV Count Beiersdorf AG Count Gemalto NV Count Henkel AG & Co. KGaA -Pref- Count Infineon Technologies AG Count Luxottica Group SpA Count Yoox SpA Count Total receivables from securities loans Contracting party for securities loans UBS AG London Branch Total collateral pledged by third parties for securities loans EUR including: Equities EUR Exchange rates (indirect quotes) As of June 30, 2014 British pound... GBP = EUR 1 Swedish krona... SEK = EUR 1 Singapore dollar... SGD = EUR 1 U.S. dollar... USD = EUR 1 Notes on 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. Assets reported in this report are not valued at derived market values. Footnotes **) Some or all of these securities are lent. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 256

259 DWS Invest Top Euroland 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/ units/ currency Purchases/ additions Sales/ disposals Derivatives (option premiums realized in opening transactions, or total options transactions; in the case of warrants, purchases and sales are shown) Securities traded on an exchange Equities ArcelorMittal.... Count Arkema SA... Count Atos Origin SA.... Count Banco Santander SA -Rights Exp 28Apr Count BBVA -Rights Exp 14Apr Count Bureau Veritas SA.... Count Caixabank SA -Rights Exp 02Jun14... Count CaixaBank SA -Rights Exp 18Mar Count Cie Generale d Optique Essilor International SA.. Count Deutsche Bank AG -Rights Exp 05Jun Count EDF SA... Count ENI SpA.... Count Grupo Catalana Occidente SA.... Count Repsol SA -Rights Exp 04Jun Count Rexel SA.... Count Sanofi.... Count SAP AG.... Count Ziggo NV.... Count Futures contracts Value ( 000) Equity index futures Contracts purchased (Underlying: DJ Euro Stoxx 50) EUR Futures contracts on commodities and goods Contracts purchased USD/EUR EUR Contracts sold EUR/USD EUR

260 DWS Invest Top Europe (formerly: DWS Invest European Equities) Investment portfolio June 30, 2014 Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Kuehne + Nagel International AG.... Count CHF Nestle SA -Reg-.... Count CHF Novartis AG -Reg-.... Count CHF Roche Holding AG.... Count CHF Syngenta AG.... Count CHF Novo Nordisk A/S... Count DKK Alcatel-Lucent -A-... Count EUR Allianz SE -Reg-.... Count EUR Anheuser-Busch InBev NV.... Count EUR ASML Holding NV **... Count EUR Banco Santander SA.... Count EUR Bankinter SA.... Count EUR BASF SE... Count EUR Bayer AG.... Count EUR BNP Paribas.... Count EUR Bureau Veritas SA.... Count EUR CRH Plc.... Count EUR Daimler AG... Count EUR Deutsche Post AG -Reg-.... Count EUR Deutsche Telekom AG -Reg-.... Count EUR European Aeronautic Defence and Space Co. NV... Count EUR Ferrovial SA.... Count EUR Fresenius SE & Co. KGaA.... Count EUR GDF Suez... Count EUR GEA Group AG... Count EUR Gemalto NV **.... Count EUR HeidelbergCement AG... Count EUR Henkel AG & Co. KGaA -Pref-.... Count EUR Inditex SA... Count EUR Infineon Technologies AG.... Count EUR ING Groep NV.... Count EUR Intesa Sanpaolo SpA.... Count EUR Jazztel Plc.... Count EUR KBC Groep NV.... Count EUR Legrand SA.... Count EUR Linde AG.... Count EUR L Oreal SA.... Count EUR Luxottica Group SpA.... Count EUR Mapfre SA.... Count EUR Renault SA.... Count EUR Repsol YPF SA... Count EUR Safran SA.... Count EUR Sampo Oyj -A-.... Count EUR SES SA... Count EUR Société Générale.... Count EUR Stora Enso Oyj -R-.... Count EUR United Internet AG -Reg-.... Count EUR Volkswagen AG -Pref-.... Count EUR Babcock International Group Plc.... Count GBP British Land Co., Plc... Count GBP Burberry Group Plc.... Count GBP Compass Group Plc.... Count GBP Experian Plc.... Count GBP GKN Plc.... Count GBP Johnson Matthey Plc... Count GBP Mitchells & Butlers Plc.... Count GBP Next Plc.... Count GBP Reckitt Benckiser Group Plc.... Count GBP Standard Chartered Plc.... Count GBP Vodafone Group Plc.... Count GBP Whitbread Plc... Count GBP Wolseley Plc.... Count GBP DnB NOR Bank ASA.... Count NOK Skandinaviska Enskilda Banken AB.... Count SEK Volvo AB **.... Count SEK Certificates DWS GO SA - DWS UK Best Picks TR Index Certificate.... Count EUR Unlisted securities Equities Bank Austria -Rights Exp 11Jun Count EUR IMMOEAST AG **.... Count EUR Total securities portfolio

261 DWS Invest Top Europe (formerly: DWS Invest European Equities) Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Derivatives (Minus signs denote short positions) Equity index derivatives Receivables/payables Equity index futures DJ EURO STOXX 50 Index Futures 09/ EUR (XEUR)... Count Currency derivatives Receivables/payables Currency futures (long) Open positions GBP/EUR 20.1 million Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in other EU/EEA currencies Danish krone... DKK Norwegian krone... NOK Swedish krona... SEK Deposits in non-eu/eea currencies Australian dollar... AUD Canadian dollar... CAD Swiss franc... CHF South African rand... ZAR U.S. dollar... USD Other assets Dividends receivable Other receivables Receivables from share certificate transactions Total assets *** Short-term liabilities Loans in other EU/EEA currencies British pound... GBP Other liabilities Additional other liabilities Liabilities from share certificate transactions Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class LD... EUR Class NC... EUR Class USD LC... USD Number of shares outstanding Class FC... Count Class LC... Count Class LD... Count Class NC... Count Class USD LC... Count

262 DWS Invest Top Europe (formerly: DWS Invest European Equities) Composition of the reference portfolio (according to CSSF circular 11/512) MSCI EUROPE in EUR Constituents 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 June 30, 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 0.1, whereby the total of the nominal amounts of the derivatives 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 as of the reporting date. Market abbreviations Futures exchanges XEUR = Eurex Contracting party for currency futures Credit Suisse London Branch (GFX) Securities lending The following securities were transferred under securities loans at the reporting date: Security description Quantity/ Limited maturity Securities loans principal amount Total market value in euro Total ( / 000) Perpetual ASML Holding NV Count Gemalto NV Count IMMOEAST AG Count Volvo AB Count Total receivables from securities loans Contracting parties for securities loans Barclays Capital Securities Limited, Credit Suisse Securities (Europe) Ltd. EQ, Goldman Sachs Int., Merrill Lynch International, Nomura International Plc and UniCredit Bank AG. Total collateral pledged by third parties for securities loans EUR including: Equities EUR Other EUR Exchange rates (indirect quotes) As of June 30, 2014 Australian dollar.... AUD = EUR 1 Canadian dollar... CAD = EUR 1 Swiss franc.... CHF = EUR 1 Danish krone.... DKK = EUR 1 British pound... GBP = EUR 1 Norwegian krone.... NOK = EUR 1 Swedish krona.... SEK = EUR 1 U.S. dollar.... USD = EUR 1 South African rand.... ZAR = EUR 1 Notes on 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. Assets stated in this report are valued to a small extent at derived market values. Footnotes **) Some or all of these securities are lent. ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 260

263 DWS Invest Top Europe (formerly: DWS Invest European Equities) 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 Securities traded on an exchange Count/ units/ currency Purchases/ additions Sales/ disposals Equities ArcelorMittal.... Count Arkema SA... Count Atos Origin SA.... Count AXA SA.... Count Babcock International Group Plc.... Count Babcock International Group Plc -Rights Exp 06May14... Count Banco Santander SA -Rights Exp 28Apr Count Barclays Plc.... Count Cie Financiere Richemont SA.... Count Cie Generale d Optique Essilor International SA.. Count Deutsche Bank AG -Reg-... Count EDF SA... Count Novo Nordisk A/S -B-.... Count Old Mutual Plc.... Count Repsol SA -Rights Exp 04Jun Count Rolls-Royce Holdings Plc.... Count Rolls-Royce Holdings Plc.... Count Telenor ASA... Count Verizon Communications, Inc.... Count Vodafone Group Plc.... Count Ziggo NV.... Count 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) Equity index futures Contracts sold (Underlying: DJ Euro Stoxx 50) EUR Currency futures (short) Futures contracts to sell currencies EUR/GBP EUR Currency futures (long) Futures contracts to purchase currencies GBP/EUR EUR

264 DWS Invest US Value Equities Investment portfolio January 28, 2014 (liquidation date) Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Securities traded on an exchange Equities Canadian Oil Sands Ltd.... Count CAD AbbVie, Inc.... Count USD Accenture Plc... Count USD Altria Group, Inc..... Count USD American Electric Power Co., Inc.... Count USD Amgen, Inc... Count USD Apple, Inc... Count USD AT&T, Inc..... Count USD Baxter International, Inc... Count USD Becton Dickinson & Co.... Count USD Boeing Co.... Count USD Bristol-Myers Squibb Co.... Count USD Campbell Soup Co..... Count USD Chevron Corp... Count USD Chubb Corp.... Count USD Cisco Systems, Inc.... Count USD Clorox Co..... Count USD CMS Energy Corp.... Count USD Coach, Inc.... Count USD Coca-Cola Co.... Count USD Colgate-Palmolive Co... Count USD ConocoPhillips.... Count USD Edison International.... Count USD Eli Lilly & Co... Count USD Emerson Electric Co.... Count USD Exxon Mobil Corp.... Count USD General Mills, Inc..... Count USD Intel Corp..... Count USD JM Smucker Co..... Count USD Johnson & Johnson.... Count USD JP Morgan Chase & Co..... Count USD Kla-Tencor Corp.... Count USD L Brands, Inc.... Count USD Las Vegas Sands Corp... Count USD Linear Technology Corp..... Count USD LyondellBasell Industries NV.... Count USD M&T Bank Corp..... Count USD Macy s, Inc... Count USD Marathon Oil Corp..... Count USD Marsh & McLennan Cos, Inc... Count USD Maxim Integrated Products, Inc.... Count USD McDonald s Corp..... Count USD McGraw-Hill Cos, Inc..... Count USD Mead Johnson Nutrition Co... Count USD Merck & Co., Inc.... Count USD Microchip Technology, Inc... Count USD Microsoft Corp... Count USD Mondelez International, Inc..... Count USD NextEra Energy, Inc..... Count USD Norfolk Southern Corp..... Count USD Northrop Grumman Corp..... Count USD Nucor Corp... Count USD Occidental Petroleum Corp.... Count USD Oracle Corp.... Count USD PartnerRe Ltd... Count USD Pfizer, Inc..... Count USD Philip Morris International, Inc..... Count USD Procter & Gamble Co... Count USD Raytheon Co.... Count USD Reynolds American, Inc..... Count USD Rockwell Automation, Inc.... Count USD St Jude Medical, Inc.... Count USD Staples, Inc.... Count USD Travelers Cos, Inc.... Count USD United Parcel Service, Inc. -B-.... Count USD United Technologies Corp..... Count USD Verizon Communications, Inc.... Count USD Walgreen Co.... Count USD Wal-Mart Stores, Inc.... Count USD Westar Energy, Inc.... Count USD Wisconsin Energy Corp..... Count USD Xcel Energy, Inc..... Count USD Total securities portfolio

265 DWS Invest US Value Equities Count/ Quantity/ Purchases/ Sales/ Currency Market price Total market % of Description units/ principal additions disposals value in net currency amount in the reporting period EUR assets Derivatives (Minus signs denote short positions) Currency derivatives Receivables/payables Currency futures (short) Open positions EUR/CAD 0.1 million EUR/USD 2.4 million Closed positions EUR/CAD 0.1 million EUR/USD 2.5 million Cash at bank Demand deposits at Custodian EUR deposits... EUR Deposits in non-eu/eea currencies Canadian dollar... CAD U.S. dollar... USD Other assets Dividends receivable Total assets *** Other liabilities Liabilities from cost items Total liabilities *** Net assets Negligible rounding errors may have arisen due to the rounding of calculated percentages. 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 FC... EUR Class LC... EUR Class LCH (P)... EUR Class NC... EUR Class NCH (P)... EUR Class E2... USD Number of shares outstanding Class FC... Count Class LC... Count Class LCH (P)... Count Class NC... Count Class NCH (P)... Count Class E2... Count Composition of the reference portfolio (according to CSSF circular 11/512) S&P 500 unhedged Constituents 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 January 28, 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 0.0, whereby the total of the nominal amounts of the derivatives 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. Does not include any forward currency transactions entered into for currency hedging purposes at the level of the share classes. 263

266 DWS Invest US Value Equities Market abbreviations Contracting party for currency futures State Street Bank and Trust Company Exchange rates (indirect quotes) As of January 28, 2014 Canadian dollar... CAD = EUR 1 U.S. dollar.... USD = EUR 1 Notes on 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. Assets reported in this report are not valued at derived market values. Footnotes ***) In the case of derivatives and futures contracts, the amount shown under Total assets takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under Total liabilities. 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 Securities traded on an exchange Count/ units/ currency Purchases/ additions Sales/ disposals Equities 3M Co.... Count Allstate Corp.... Count Amerisourcebergen Corp... Count Best Buy Co., Inc... Count Chesapeake Energy Corp.... Count Citigroup, Inc.... Count Coca-Cola Enterprises, Inc... Count Comcast Corp. -A-.... Count Computer Sciences Corp... Count CSX Corp.... Count Delta Air Lines, Inc... Count Duke Energy Corp.... Count Express Scripts Holding Co..... Count Ford Motor Co..... Count Freeport-McMoRan Copper & Gold, Inc. -B-.... Count General Electric Co.... Count Gilead Sciences, Inc... Count Home Depot, Inc..... Count Honeywell International, Inc.... Count Intuit, Inc.... Count LAM Research Corp.... Count Leidos Holdings, Inc.... Count Medtronic, Inc.... Count Metlife, Inc... Count Monsanto Co..... Count Morgan Stanley.... Count Mylan, Inc.... Count Nike, Inc. -B-.... Count Noble Energy, Inc.... Count PNC Financial Services Group, Inc.... Count Prudential Financial, Inc..... Count Science Applications International Corp.... Count Simon Property Group, Inc.... Count Tenet Healthcare Corp... Count Towers Watson & Co.... Count TRW Automotive Holdings Corp..... Count UnitedHealth Group, Inc.... Count Valero Energy Corp.... Count Viacom, Inc.... Count Walt Disney Co.... Count Whole Foods Market, Inc.... Count Yahoo!, Inc... Count 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) Equity index futures Contracts purchased (Underlying: S&P Mini 500) EUR Currency futures (long) Futures contracts to purchase currencies USD/EUR EUR

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268 DWS Invest SICAV June 30, 2014 Statement of net assets as of June 30, 2014 DWS Invest SICAV EUR DWS Invest Africa EUR DWS Invest Asia ex-japan EUR Consolidated % of net assets Assets Total securities portfolio Derivatives on individual securities Equity index derivatives Interest rate derivatives Currency derivatives Swaps Cash at bank Other assets Receivables from share certificate transactions = Total assets Liabilities Derivatives on individual securities Equity index derivatives Interest rate derivatives Currency derivatives Swaps Short-term liabilities Other liabilities Liabilities from share certificate transactions Net assets Statement of net assets as of June 30, 2014 DWS Invest Clean Tech EUR DWS Invest Commodity Plus EUR DWS Invest Convertibles EUR Assets Total securities portfolio Derivatives on individual securities Equity index derivatives Interest rate derivatives Currency derivatives Swaps Cash at bank Other assets Receivables from share certificate transactions = Total assets Liabilities Derivatives on individual securities Equity index derivatives Interest rate derivatives Currency derivatives Swaps Short-term liabilities Other liabilities Liabilities from share certificate transactions Net assets *) This sub-fund was merged into another sub-fund of the SICAV during the period. The period shown therefore relates to the period from January 1, 2014, through to the merger date of the respective sub-fund. For further information, please refer to the general information on page

269 DWS Invest Asian Bonds USD DWS Invest Asian Small/Mid Cap EUR DWS Invest Brazilian Equities EUR DWS Invest China Bonds USD DWS Invest Chinese Equities EUR DWS Invest Emerging Markets Corporates USD DWS Invest Emerging Markets Satellites EUR DWS Invest Emerging Markets Top Dividend EUR DWS Invest Euro Bonds (Premium) EUR DWS Invest Euro Bonds (Short) EUR

270 DWS Invest SICAV June 30, 2014 Statement of net assets as of June 30, 2014 DWS Invest Euro Corporate Bonds EUR DWS Invest Euro High Yield Corporates EUR DWS Invest Euro-Gov Bonds EUR Assets Total securities portfolio Derivatives on individual securities Equity index derivatives Interest rate derivatives Currency derivatives Swaps Cash at bank Other assets Receivables from share certificate transactions = Total assets Liabilities Derivatives on individual securities Equity index derivatives Interest rate derivatives Currency derivatives Swaps Short-term liabilities Other liabilities Liabilities from share certificate transactions Net assets Statement of net assets as of June 30, 2014 DWS Invest Global Bonds EUR DWS Invest Global Emerging Market Equities EUR DWS Invest Global GDP Bonds (formerly: DWS Invest Income Strategy Currency) EUR Assets Total securities portfolio Derivatives on individual securities Equity index derivatives Interest rate derivatives Currency derivatives Swaps Cash at bank Other assets Receivables from share certificate transactions = Total assets Liabilities Derivatives on individual securities Equity index derivatives Interest rate derivatives Currency derivatives Swaps Short-term liabilities Other liabilities Liabilities from share certificate transactions Net assets *) This sub-fund was merged into another sub-fund of the SICAV during the period. The period shown therefore relates to the period from January 1, 2014, through to the merger date of the respective sub-fund. For further information, please refer to the general information on page

271 DWS Invest European Bonds EUR DWS Invest European Small Cap EUR DWS Invest European Value EUR DWS Invest German Equities EUR DWS Invest Global Agribusiness USD DWS Invest Global Infrastructure EUR DWS Invest Global Thematic USD DWS Invest Gold and Precious Metals Equities USD DWS Invest Government Liquidity Fund EUR DWS Invest Income Strategy Systematic EUR

272 DWS Invest SICAV June 30, 2014 Statement of net assets as of June 30, 2014 Assets DWS Invest Italian Equities EUR DWS Invest Latin American Equities EUR DWS Invest Local Emerging Markets Bonds USD Total securities portfolio Derivatives on individual securities Equity index derivatives Interest rate derivatives Currency derivatives Swaps Cash at bank Other assets Receivables from share certificate transactions = Total assets Liabilities Derivatives on individual securities Equity index derivatives Interest rate derivatives Currency derivatives Swaps Short-term liabilities Other liabilities Liabilities from share certificate transactions Net assets Statement of net assets as of June 30, 2014 DWS Invest Multi Asset Total Return I EUR Assets DWS Invest Multi Opportunities EUR DWS Invest New Resources EUR Total securities portfolio Derivatives on individual securities Equity index derivatives Interest rate derivatives Currency derivatives Swaps Cash at bank Other assets Receivables from share certificate transactions = Total assets Liabilities Derivatives on individual securities Equity index derivatives Interest rate derivatives Currency derivatives Swaps Short-term liabilities Other liabilities Liabilities from share certificate transactions Net assets *) This sub-fund was merged into another sub-fund of the SICAV during the period. The period shown therefore relates to the period from January 1, 2014, through to the merger date of the respective sub-fund. For further information, please refer to the general information on page

273 DWS Invest Multi Asset Allocation EUR DWS Invest Multi Asset Balance EUR DWS Invest Multi Asset Defensive EUR DWS Invest Multi Asset Dynamic EUR DWS Invest Multi Asset Income EUR DWS Invest RREEF Global Real Estate Securities USD DWS Invest Short Duration Credit EUR DWS Invest StepIn Akkumula EUR DWS Invest Top Asia (formerly: DWS Invest Top 50 Asia) EUR DWS Invest Top Dividend EUR

274 DWS Invest SICAV June 30, 2014 Statement of net assets as of June 30, 2014 DWS Invest Top Dividend Premium EUR Assets DWS Invest Top Euroland EUR DWS Invest Top Europe (formerly: DWS Invest European Equities) EUR Total securities portfolio Derivatives on individual securities Equity index derivatives Interest rate derivatives Currency derivatives Swaps Cash at bank Other assets Receivables from share certificate transactions = Total assets Liabilities Derivatives on individual securities Equity index derivatives Interest rate derivatives Currency derivatives Swaps Short-term liabilities Other liabilities Liabilities from share certificate transactions Net assets Statement of net assets as of June 30, 2014 DWS Invest US Value Equities EUR* Assets Total securities portfolio Derivatives on individual securities 0.00 Equity index derivatives 0.00 Interest rate derivatives 0.00 Currency derivatives 0.00 Swaps 0.00 Cash at bank Other assets Receivables from share certificate transactions 0.00 = Total assets Liabilities Derivatives on individual securities 0.00 Equity index derivatives 0.00 Interest rate derivatives 0.00 Currency derivatives Swaps 0.00 Short-term liabilities 0.00 Other liabilities Liabilities from share certificate transactions Net assets *) This sub-fund was merged with the sub-fund DWS Invest II US Top Dividend of DWS Invest II SICAV during the period. The period shown therefore relates to the period from January 1, 2014, through to the merger date of the respective sub-fund. For further information, please refer to the general information on page

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276 Investment Company DWS Invest SICAV 2, Boulevard Konrad Adenauer L-1115 Luxembourg RC B Board of Directors of the Investment Company Doris Marx Chairman 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, Management Company and Central Administration Agent, Transfer Agent, Registrar and Main Distributor DWS Investment S.A. 2, Boulevard Konrad Adenauer L-1115 Luxembourg Equity capital 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 Heinz-Wilhelm Fesser Luxembourg Marzio Hug Deutsche Bank AG, London 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 Klaus-Michael Vogel Executive Member of the Board of Directors DWS Investment S.A., Luxembourg Member of the Management Board of Deutsche Bank Luxembourg S.A., 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 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 Fund Managers For the sub-funds DWS Invest Asian Bonds and DWS Invest Asian Small/Mid Cap: Deutsche Asset & Wealth Management Investment GmbH Mainzer Landstr D Frankfurt/Main Sub-fund manager for these sub-funds: Deutsche Asset Management (Asia) Ltd One Raffles Quay, #15-00 South Tower Singapore For the sub-fund DWS Invest New Resources: Deutsche Asset & Wealth Management Investment GmbH Mainzer Landstr D Frankfurt/Main Deutsche Asset Management (Asia) Ltd One Raffles Quay, #15-00 South Tower Singapore For the sub-funds DWS Invest Brazilian Equities and DWS Invest Latin American Equities: Deutsche Asset & Wealth Management Investment GmbH Mainzer Landstr D Frankfurt/Main Deutsche Bank S.A. Banco Alemão Av. Brigadeiro Faria Lima, São Paulo, Brazil For the sub-funds DWS Invest China Bonds, DWS Invest China Short Duration Bonds and DWS Invest Chinese Equities: Harvest Global Investments Limited Suites , Two Exchange Square 8 Connaught Place Hong Kong, China For the sub-fund DWS Invest Clean Tech: Deutsche Asset & Wealth Management Investment GmbH Mainzer Landstr D Frankfurt/Main Deutsche Alternative Asset Management (UK) Ltd 1 Appold Street London EC2A 2UU United Kingdom For the sub-funds DWS Invest Global Bonds, DWS Invest Global Emerging Markets Equities and DWS Invest Top Asia: Deutsche Asset & Wealth Management Investment GmbH Mainzer Landstr D Frankfurt/Main Deutsche Asset Management (UK) Limited 1 Appold Street, Broadgate London EC2A 2UU United Kingdom For the sub-fund DWS Invest Global Infrastructure: Deutsche Asset & Wealth Management Investment GmbH Mainzer Landstr D Frankfurt/Main Sub-fund manager for this sub-fund: RREEF America LLC Deutsche Asset & Wealth Management 222 S. Riverside Plaza, Floor 24 Chicago, IL U.S. For the sub-funds DWS Invest Global Thematic and DWS Invest Global Agribusiness: Global Thematic Partners, LLC 681 Fifth Avenue, 12th Floor New York, NY U.S.

277 For the sub-funds DWS Invest Global Commodities, DWS Invest Gold and Precious Metals Equities and DWS Invest Commodity Plus: Deutsche Investment Management America Inc. 345 Park Avenue New York, NY U.S. For the sub-fund DWS Invest RREEF Global Real Estate Securities: RREEF America LLC Deutsche Asset & Wealth Management 222 S. Riverside Plaza, Floor 24 Chicago, IL U.S. Sub-fund managers for this sub-fund: For the management of the European portion of the portfolio: Deutsche Alternative Asset Management (UK) Limited 1 Appold Street London EC2A 2UU United Kingdom For the management of the Asian, Australian and New Zealand portion of the portfolio: Deutsche Australia Limited, Deutsche Bank Place Cnr. Hunter and Phillip Streets Sydney NSW 2000 Australia For all other sub-funds: Deutsche Asset & Wealth Management Investment GmbH Mainzer Landstr D Frankfurt/Main Custodian and Administrator State Street Bank Luxembourg S.A. 49, Avenue J.F. Kennedy L-1855 Luxembourg Auditor KPMG Luxembourg S.à r.l. 9, Allée Scheffer L-2520 Luxembourg Sales and Paying Agents Main Distributor LUXEMBOURG DWS Investment S.A. 2, Boulevard Konrad Adenauer L-1115 Luxembourg Deutsche Bank Luxembourg S.A. 2, Boulevard Konrad Adenauer L-1115 Luxembourg As of: July 31, 2014

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