Presentation DWS Floating Rate Fund - DWS Investments

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Loans offer several benefits and distinctions U.S. loans U.S. high-yield ield bonds Relative e benefits and implications Senior Senior or subordinated Loans are the most senior debt in the capital structure of non-investment-grade firms — Interest and principal is paid before bond and equity holders Secured Unsecured Loans are usually secured by assets, which support higher recovery rates. — Historically, recovery rates for defaults have averaged over 80% Covenants Lighter covenants Loans typically have stronger financial covenants than bonds — Greater protection for investors Floating-rate Mostly fixed-rate Loans offer floating-rate coupons — Potentially less interest-rate risk 6-9 year term 7-10 years term Loans are generally slightly shorter term — Less term risk Lower liquidity Higher liquidity Loans generally are less liquid than high-yield bonds — Selling loan positions quickly could be difficult Callability Call protection Loans are generally callable with little or no premium — When capital markets are open, loans trading above par are often refinanced at tighter spreads Source: Deutsche Asset & Wealth Management as of 12/31/12 Deutsche Asset & Wealth Management Investment products: No bank guarantee I Not FDIC insured I May lose value 32
Broad issuer base offers diversified exposure Floating-rate loans are issued by well-known companies—such as Georgia Pacific, Bausch & Lomb and Goodyear—across a wide range of industries Healthcare Business equipment and services Publishing Electronics Utilities Financial intermediaties Retailers Telecommunications Automotive Broadcast radio and television Lodging and casinos Chemical/plastics Cable and satellite television Oil and gas Food service Food products Aerospace and defense Leisure Drugs Insurance Other 3.90% 3.75% 3.68% 3.64% 3.51% 2.84% 2.46% 2.40% 2.26% 2.18% 1.87% 1.80% 5.97% 5.79% 5.79% 5.52% 5.39% 5.36% 8.02% 10.28% 13.60% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00% Source: Standard d & Poor‘s as of 12/31/12. Data is for illustrative i purposes and does not represent any DWS Investments fund. As of 3/31/13, DWS Floating Rate Fund held 0% in Georgia-Pacific, 0.6% in Bausch & Lomb and 0.2% in Goodyear. Securities referenced do not represent all of the securities purchased or sold by the fund, may or may not be profitable, and should not be construed as a recommendation of any specific security. Current and future portfolio holdings are subject to risk. Deutsche Asset & Wealth Management Investment products: No bank guarantee I Not FDIC insured I May lose value 33
Page 1 and 2: Deutsche Asset & Wealth Management
Page 3 and 4: Important risk information Bond and
Page 5 and 6: Deutsche Asset & Wealth Management
Page 7 and 8: 02 g Floating-rate loan overview
Page 9 and 10: A global team of high-yield and loa
Page 11 and 12: 03 p Investment process
Page 13 and 14: One transparent, global process Our
Page 15 and 16: Credit research: the foundation for
Page 17 and 18: Research conveyed globally via real
Page 19 and 20: Construction & design: model portfo
Page 21 and 22: A highly experienced portfolio cons
Page 23 and 24: Implementation: a dedicated manager
Page 25 and 26: Process management: a crucial part
Page 27 and 28: Multi-dimensional risk management t
Page 29 and 30: 04 Current opportunity in loans
Page 31: Repayment hierarchy gives preferenc
Page 35: Important information OBTAIN A PROS

Presentation DWS Floating Rate Fund - DWS Investments

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