Deutsche Bank Best Allocation - Flexible

The objective of the investment policy of the sub-fund is to achieve a positive investment performance in the medium to long term while taking into account the opportunities and risks of the international capital markets. However, no assurance can be given that the investment objective will be achieved. The sub-fund seeks to achieve a predominant investment in higher-risk assets (such as equities and/or commodities) in the medium to long term. In the short to medium term, the portion of higher-risk investments may be up to 100%, but can also be significantly reduced in favor of comparatively less risky investments (such as bonds with a good credit rating and/or liquidity). The sub-fund is aimed at investors who prefer a flexible investment policy with an emphasis on higher-risk assets and are prepared to accept greater risk of loss in return.