Presentation - DWS Investments

Deutsche Asset 

& Wealth Management 

DWS RREEF Global Infrastructure Fund 

Performance presentation 

Investment products: No bank guarantee I Not FDIC insured I May lose value

Important disclosures 

Risk information 

Any fund that concentrates in a particular segment of the market will generally be more 

volatile than a fund that invests more broadly. Investing in foreign securities, particularly 

those of emerging markets, presents certain risks, such as currency fluctuations, political 

and economic changes, and market risks. This fund is non-diversified and can take 

larger positions in fewer issues, increasing its potential risk. The fund may lend securities 

to approved institutions. Stocks may decline in value. See the prospectus for details. 

Investment objective and strategy 

The fund seeks total return from both capital appreciation and current income through 

investments in a global portfolio of securities of infrastructure-related companies. The 

fund’s equity investments are mainly common stocks, but may also include other types of 

equities, such as preferred or convertible stocks, or equity securities of real estate 

investment companies (REITs). 



Investment products: No bank guarantee I Not FDIC insured I May lose value 

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Definitions 

— The Dow Jones (DJ)-Brookfield Global Infrastructure Index tracks the performance of 

infrastructure companies 

— The FTSE EPRA/NAREIT Developed Real Estate Index tracks the performance of developed-market real 

estate investment trusts (REITs) 

— The Macquarie Global Infrastructure Index tracks the performance of companies in the infrastructure 

industry, principally those engaged in the management, ownership and operation of infrastructure and 

utility assets 

— The MSCI World Index tracks the performance of stocks in select developed markets around the world, 

including the United States 

— Sharpe ratio measures an investment’s performance per unit of risk for a given period 

— Standard deviation is often used to represent the volatility of an investment. It depicts how widely an 

investment’s returns vary from the investment’s average return over a certain period 

— The S&P Global Infrastructure Index tracks the performance of companies in the infrastructure business 

— The UBS World Infrastructure & Utilities Index tracks the performance of infrastructure and utilities stocks 




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DWS RREEF Global Infrastructure Fund Performance 

Average annual total returns as of 3/31/14 (returns of less than one year are cumulative) 

Share class 1-month 3-month 1-year 3-year 5-year Life of fund 

Unadjusted for sales charges 

Inception 

date 

A 2.08% 5.81% 16.35% 16.34% 21.54% 9.37% 6/24/08 

Adjusted for the maximum 5.75% sales charge 

A –3.79% –0.28% 9.66% 14.06% 20.11% 8.25% 6/24/08 

No sales charges 

S 2.10% 5.92% 16.59% 16.58% 21.81% 9.60% 6/24/08 

INST 2.14% 5.96% 16.72% 16.70% 21.88% 9.66% 6/24/08 

Dow Jones Brookfield 

Global Infrastructure 

Index 

1.42% 5.04% 12.74% 14.52% 21.79% n/a n/a 

Performance is historical and does not guarantee future results. Investment return and principal fluctuate so your shares may be 

worth more or less when redeemed. Current performance may differ from data shown. Please visit www.dws-investments.com for the 

fund's most recent month-end performance. Unadjusted returns do not reflect sales charges and would be lower if they did. The fund 

may charge a 2% fee for redemptions within 15 days. Performance includes reinvestment of all distributions. Not all share classes are 

available to all investors. 

The Dow Jones Brookfield Global Infrastructure Index measures the stock performance of companies that exhibit strong infrastructure 

characteristics. Index components are required to have more than 70% of cash flows derived from infrastructure lines of business. 

The index intends to measure all sectors of the infrastructure market. 




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Expense ratios as of latest prospectus 

Share class A S INST 

Gross 1.41% 1.24% 1.10% 

Net 1.41% 1.24% 1.10% 

The net expense charge for this fund does not include any fee waivers. 




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Lipper rankings as of 3/31/14 

Specialty/Miscellaneous Funds 1-year 3-year 5-year 

Class A 

Lipper percentile 34% 11% 30% 

Lipper ranking 30 / 88 8 / 73 12 / 39 

Class S 



Class INST 



Source: Lipper. Rankings are historical and do not guarantee future results. Rankings are based on the fund’s total return unadjusted for sales charges with distributions 

reinvested. If sales charges had been included, results might have been less favorable. 




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Morningstar rankings as of 3/31/14 

World Stock 1-year 3-year 5-year 

Class A 

Morningstar percentile 68% 2% 14% 

Morningstar ranking 724 / 1066 11 / 804 91 / 642 

Class S 



Class INST 



Source: Morningstar. Rankings are historical and do not guarantee future results. Rankings are based on the fund’s total return unadjusted for sales charges with distributions 

reinvested. If sales charges had been included, results might have been less favorable. 




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Global infrastructure performance comparison 

Total return 

16.59% 15.89% 

16.58% 

12.84% 12.98% 

6.87% 

8.27% 

7.19% 

21.81% 

11.75% 

15.61% 

12.36% 

Standard deviation (volatility) 

11.36% 

13.27% 

12.70% 13.03% 

11.25% 

12.49% 

9.16% 

11.05% 

11.76% 

12.57% 

14.92% 

12.57% 

Sharpe ratio 

1.41 

0.96 

1.25 

0.99 

1.72 1.68 

0.61 0.66 0.65 

0.93 

1.04 

0.98 

1 Year 3 Year 5 Year 

DWS RREEF Global Infrastructure (TOLSX) 

S&P Global Infrastructure Index Net TR 

UBS World Infrastructure & Utilities 

Macquarie Global Infrastructure Index 

Source: Morningstar and Bloomberg as of 3/31/14. Performance is historical and does not guarantee future results. Data shown is U.S. dollar net total returns, except Macquarie 

Global Infrastructure Index which is USD gross total returns. Index returns do not reflect fees or expenses, and it is not possible to invest directly in an index. This information is 

for illustrative purposes and does not represent any Deutsche Asset & Wealth Management product. Volatility is represented by standard deviation. See slide 3 for definitions. 




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Global infrastructure vs. equities 

Total return 

21.86% 

16.59% 16.55% 

16.58% 

8.55% 

14.66% 

21.81% 

17.80% 

21.16% 

Standard deviation (volatility) 

11.36% 

10.96% 

9.96% 

9.16% 

14.54% 

12.47% 

11.76% 

16.22% 

13.99% 

Sharpe ratio 

1.41 

1.51 

2.19 

1.72 1.68 

1.17 

0.58 

1.09 

1.51 

1 Year 3 Year 5 Year 

DWS RREEF Global Infrastructure (TOLSX) MSCI AC World Daily TR Net USD S&P 500 Total Return Index 

Source: Morningstar and Bloomberg as of 3/31/14. Performance is historical and does not guarantee future results. This information is for illustrative purposes and does not 

represent any Deutsche Asset & Wealth Management product. Volatility is represented by standard deviation. Index returns do not reflect fees or expenses, and it is not possible 

to invest directly in an index. See slide 3 for index definitions. 




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Regional allocations 

Regional allocations (as of 3/31/14) 

58.8% 

61.3% 

30.5% 

25.9% 

4.1% 

8.2% 

0.0% 

4.2% 

Americas Europe Asia Australia 


Dow Jones Brookfield Global Infrastructure Index 

Source: DWS Investments as of 3/31/14. Composition is subject to change. See slide 3 for index definitions. 




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Sector allocations 

Sector allocations (as of 3/31/14) 

27.5% 

24.3% 

20.3% 

17.3% 

13.4% 

12.7% 

11.1% 

17.0% 

7.0% 6.6% 

5.5% 

5.2% 5.4% 

0.0% 

3.4% 2.8% 1.8% 

0.0% 

5.7% 

3.7% 

2.0% 1.9% 1.4% 

3.6% 

0.2% 

0.0% 


Dow Jones Brookfield Global Infrastructure Index 

Source: DWS Investments as of 3/31/14. Composition is subject to change. See slide 3 for index definitions. 




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Top 10 holdings 

Stock Country Sector Weight 

American Tower United States Communications 6.9% 

National Grid United Kingdom Power T&D 5.9% 

TransCanada Canada Pipelines 5.3% 

Enbridge Canada Pipelines 5.0% 

Crown Castle International United States Communications 4.6% 

Sempra Energy United States Gas Distribution 4.0% 

Spectra Energy United States Pipelines 3.9% 

SES SA Class A France Communications 3.9% 

PG&E Corporation United States Power T&D 2.0% 

Williams Companies United States Midstream 0.2% 

Source: Deutsche Asset & Wealth Management as of 3/31/14. 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. 




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Important information 

OBTAIN A PROSPECTUS 

To obtain a summary prospectus, if available, or prospectus, download one from www.dwsinvestments.com, 

talk to your financial representative or call (800) 728-3337. We advise you to 

carefully consider the product’s objectives, risks, charges and expenses before investing. The 

summary prospectus and prospectus contain this and other important information about the 

investment product. Please read the prospectus carefully before you invest. 

Investment products offered through DWS Investments Distributors, Inc. Advisory services offered through 

Deutsche Investment Management Americas, Inc. 

Deutsche Asset & Wealth Management represents the asset management and wealth management activities 

conducted by Deutsche Bank AG or any of its subsidiaries. Clients will be provided Deutsche Asset & Wealth 

Management products or services by one or more legal entities that will be identified to clients pursuant to the 

contracts, agreements, offering materials or other documentation relevant to such products or services. 

DWS Investments Distributors, Inc. 

222 South Riverside Plaza Chicago, IL 60606-5808 

www.dws-investments.com service@dws.com 

Tel (800) 728-3337 

©2014 Deutsche Bank AG. All rights reserved. (5/14) R-8363-7 




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Presentation - DWS Investments

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