12.07.2015 Views

Dear Valued ERISA Client - DWS Investments

Dear Valued ERISA Client - DWS Investments

Dear Valued ERISA Client - DWS Investments

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DIMA receives research and soft dollar services paid for with securities brokerage commissions (soft dollars) inaccordance with Section 28e of the Securities Exchange Act of 1934, as amended. The services are received inconnection with DIMA’s trading for all of its accounts and thus, the value of the services cannot reasonably beallocated to any particular account. To the extent that any broker provides proprietary research, DIMA is unable toplace a value on that research, and the eligibility conditions for the proprietary research (other than the fact of usingthe broker’s services) are not shared with DIMA. The total amount of the third party research and the broker fromwhich it is received is detailed in Attachment A. Securities brokerage commissions and commission paid forresearch services are also disclosed in Part I of the SAI and corresponding Appendix under the section “PortfolioTransactions and Brokerage Commission”.<strong>DWS</strong> did not receive any non-monetary gifts in connection with an <strong>ERISA</strong> plan. <strong>DWS</strong> employees are prohibitedfrom receiving any gifts, entertainment or meals from a third party, including brokers and consultants, inconnection with a transaction involving an <strong>ERISA</strong> Account.To the extent you are invested in a <strong>DWS</strong> collective trust, the information relating to service providercompensation is found in the fee schedule to your investment management agreement, the fund description youreceived in connection with your plan’s investment in the collective trust, and the financial statements that youreceive in April. The soft dollar compensation described above also applies to investments in <strong>DWS</strong> collectivetrusts.To obtain a <strong>DWS</strong> Funds prospectus or SAI, download one from www.dws-investments.com or call (800) 621-1048.Thank you for your continued support.<strong>DWS</strong> <strong>Investments</strong> Distributors, Inc.EIN: 36-3976708<strong>DWS</strong> <strong>Investments</strong> is part of Deutsche Bank’s Asset Management division and, within the US, represents the retail asset managementactivities of Deutsche Bank AG, Deutsche Bank Trust Company Americas, Deutsche Investment Management Americas Inc. and <strong>DWS</strong>Trust Company.Investment products offered through <strong>DWS</strong> <strong>Investments</strong> Distributors, Inc. Advisory services offered through Deutsche Investment Management Americas Inc.Investment products: No bank guarantee I Not FDIC insured I May lose valueR-16478-2 (3-11)

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