Presentation DWS Floating Rate Fund - DWS Investments
Presentation DWS Floating Rate Fund - DWS Investments
Presentation DWS Floating Rate Fund - DWS Investments
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<strong>Fund</strong>amental analysis: at industry, issuer and<br />
issue levelsl<br />
Most critical step<br />
Industry Issuer Issue<br />
Competitive landscape<br />
Cash flow analysis<br />
— Structural protection<br />
— Broad access to internal and<br />
external industry expertise<br />
Industry trends<br />
— Cash flow modeling through<br />
financial analysis<br />
— Evaluate issuer’s entire capital<br />
— Collateral, covenant and<br />
capital structure<br />
— Sponsorship<br />
— Focus on medium term<br />
outlook<br />
— Keep abreast of technological<br />
innovations<br />
structure to get complete<br />
picture of<br />
cash flows<br />
Competitive positioning<br />
— Management assessment<br />
— Market position relative<br />
to peers<br />
Risk evaluation<br />
— Assess downside risk through<br />
stress-case modeling<br />
— Restructure risk<br />
— Probability-weighted scenario<br />
analysis<br />
— Pricing and liquidity<br />
— Refinancing and market risk<br />
Outcome:<br />
Assessment of intrinsic value<br />
Deutsche Asset<br />
& Wealth Management Investment products: No bank guarantee I Not FDIC insured I May lose value 16
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