Produktinformationsblatt Englisch - FPM-AG

Fund portrait
as of: August 31, 2011
FPM Funds Stockpicker Germany Small/Mid Cap ISIN: LU0207947044
Equity Funds Germany
Investment Policy
The FPM Funds Stockpicker Germany Small/Mid Cap invests primarily in German equities. The objective of the investment
policy of the sub-fund FPM Funds Stockpicker Germany Small/Mid Cap is to gain the greatest possible return on investments
in Euro. The subfund's assets are primarily invested in shares, share certificates, convertible bonds, convertible debentures
and warrant-linked bonds, participation and dividend-right certificates, warrants for securities, as well as in variable and fixed
interest securities of issuers with their registered office in the Federal Republic of Germany. In addition, the subfund’s assets
may be invested in all other permissible assets.
General Fund Information
Fund category: Equity funds Germany
Investment company: FPM Funds SICAV / Luxembourg
Management company: DWS Investment S.A., Luxembourg
Custodian bank: State Street Bank Luxembourg
Fund managers: Martin Wirth and Manfred Piontke
Fund currency: Euro
Launch date:
Distribution policy: retaining
End of fiscal year: December 31
Fund volume in million Euro: 24,33
Suitable for savings plans: Yes
Suitable for capital-building payment: Yes
Permitted to trade in: Germany, Austria, Spain, Luxembourg
DWS risk category: 4
Ratings & Awards:
Morningstar Rating 1 December 20, 2004
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Fund prices Conditions
Redemption price: 141,49 € Max. front-end load: 4,00%
Issue price: 147,15 € Management fee: 1.25% p.a.
Performance fee: success-related fee of 15%, provided that the
52-week high*: 172,53 €
performance of the shares exceeds 4% per half-
52-week low*: 129,49 €
year
*redemption price TER (fiscal year 2010): 3
Performance
200 200 € €
170 €
170 €
140 €
140 €
110 €
110 80 € €
50 €
80 €
50 €
Jul-06
Mai. 05
Oct-06
Aug. 05
Past 5 years
Feb-07
Dez. 05
May-07
Mrz. 06
Sep-07
Jul. 06
Okt. 06
Jan-08
Feb. 07
Apr-08
Jun. 07
Aug-08
past 5 years
Sep. 07
Dec-08
Jan. 08
Mar-09
Mai. 08
Jul-09
Aug. 08
Nov-09
Dez. 08
Feb-10
Apr. 09
Jun-10
Jul. 09
Sep-10
Nov. 09
Jan-11
Mrz. 10
May-11
Aug-11
200 € €
170 €
170 €
140 €
140 €
110 €
110 80 €
50 €
80 €
50 €
1.30% p.a.
Since inception since inception
(20 December 2004) (20 December 2004)
Investment level
Time period: 1 m 3 m 6 m 1 year 3 years 5 years since inception
Performance: 4
-14,17% -15,53% -9,46% 9,98% 18,61% 2,86% 41,49%
Please note the footnotes on page 4. Page 1 of 4 FPM Funds Stockpicker Germany Small/Mid Cap
Dez. 04
Dec-04
Apr. 05
Apr-05
Aug-05
Aug. 05
Dec-05
Dez. 05
Mar-06
Mrz. 06
Jul-06
Jul. 06
Nov-06
Nov. 06
Mar-07
Mrz. 07
Jul-07
Jul. 07
Nov-07
Mar-08
Nov. 07
Jul-08
Mrz. 08
Oct-08
Jul. 08
Feb-09
Okt. 08
Jun-09
Feb. 09
Oct-09
Jun. 09
Feb-10
Okt. 09
Jun-10
Feb. 10
Oct-10
Feb-11
May-11

Fund portrait
as of: August 31, 2011
Performance in recent 12-month-periods 5
31.08.2010 - 31.08.2011 9,98%
31.08.2009 - 31.08.2010 18,33%
31.08.2008 - 31.08.2009 -8,86%
31.08.2007 - 31.08.2008 -26,78%
31.08.2006 - 31.08.2007 18,43%
Risk Assessment
max. profit 6
max. loss 6
volatility 7
sharpe ratio 8
1 year 75,97% -52,11% 17,76% 0,50
3 years 43,50% -52,74% 24,55% 0,18
Fund Manager Analysis
After the loss of investor confidence in government bonds and heightened by the looming economic slump, August turned out
to be one of the worst months in decades for the German stock market. Due to the popularity enjoyed by German stocks in the
last few quarters, in some cases the losses were greater than in the crisis countries, presumably intensified by the ban on
short selling in some European markets, which was then redirected to German stocks. The valuation of the stocks anticipates
a recession with a weak recovery, although not a depression or collapse of the system, which is still also true for government
bonds. While we are more optimistic, we do expect to see a longer phase of high volatility and are consequently maintaining
relatively high liquidity in the FPM Funds. The degree of investment of the TOP 25 S was between 0% and 35% in August.
Portfolio Structure
Communications
Consumer, Cyclicals
Consumer, Noncyclicals
Investment level*
Top 10 Holdings
87,98 previous month* 81,42
Security current previous
weighting * month *
Sartorius Pref. 7,65 6,13
STO Pref. 7,04 7,23
Takkt 5,27 5,04
Sixt Pref. 4,69 3,50
Grenkeleasing 3,98 3,56
Nexus 3,79 2,60
Software 3,71 3,71
Analytik Jena 3,70 2,56
Freenet 3,57 2,38
Digital Identification Solutions 3,49 3,28
* in % of the fund's assets
Current current month
Energies 0,00%
Financials
Industrials
Technologies
6,97%
11,22%
15,01%
14,60%
12,47%
39,73%
Communications
Consumer, Cyclicals
Consumer, Noncyclicals
Energies
Financials
Industrials
Technologies
Previous previous month
Please note the footnotes on page 4. Page 2 of 4 FPM Funds Stockpicker Germany Small/Mid Cap
0,52%
5,38%
15,79%
12,79%
10,54%
12,07%
42,92%

Fund portrait
as of: August 31, 2011
Investment Philosophy
"Advancement through knowledge" - this is what lies at the heart of our investment philosophy. We acquire this knowledge
through intensive, personal management meetings with the companies in which we invest. This approach makes us unique in
the market and forms the basis of our success. The investment philosophy of FPM AG is based on three cornerstones: We
primarily invest in stocks of German companies with high potential that we have identified as undervalued. Companies are
selected on the basis of our own methodical and fundamental analysis (primary research). Our assessment of companies is
based on regular, face-to-face discussions between management and our fund managers.
The systematic implementation of our investment philosophy offers our investors a large number of advantages. Regular
management meetings allow us to acquire high quality information and gain valuable insights into the market and competitors.
Our analysis are not concerned with short-term trends; instead they focus on identifying high-quality companies before they
come to the market's attention. The performance of companies that have good fundamental prospects but are undervalued on
the market can increase considerably.
FPM FUNDS Stockpicker Germany Small/Mid Cap IS WELL SUITED
- for medium- to long-term investment
- for targeted and regular asset growth
- for investment in capital-building payment schemes
Chances
- Price increases on the stock market related to the market, industry and company
- Opportunity for above-average participation in performance through a valuation- and quality-oriented investment
process and active stock picking
Risks
The prices of the assets contained in the fund determine fund price. They are subject to daily fluctuations and may also fall.
Market risk:IThe performance of financial products depends on the performance of the capital markets, which in turn are
affected by real framework conditions as well as irrational factoes (sentiment, opinions and rumors).
Default risk:IThe counterparties' partial or non-ability to fulfill their contractual payment obligations may result in losses for the
investment fund. The risk of a decline in the assets of issuers cannot be eliminated even by the most careful selection of the
securities.
Currency risk:IThe value of assets invested in currencies other than the respective sub-fund currency is subject to fluctuation.
Concentration risk:IBy a concentration of investments in particular markets or assets, the investment fund becomes
particularly dependent on these few markets and assets.
Increased volatility: Due to its permitted investment universe and its compositions as well as the use of derivative
instruments, the investment fund is subject to markedly increased volatility.
Risks in connection with derivative transactions, in particular options:IPrice changes in the underlying instrument can
devalue an option. Options have a leverage effect that influences the investment fund markedly more than the underlying
instrument. Selling options bears the risk that the investment fund experiences a loss of an indefinite amount.
The unit price may at any time be lower than the purchase price at which the customer acquired the unit. I
The full sales prospectus contains a detailed description of the risks involved.
Please note the footnotes on page 4. Page 3 of 4 FPM Funds Stockpicker Germany Small/Mid Cap

Fund portrait
as of: August 31, 2011
Disclaimer
The information contained in this document does not constitute investment advice and is merely a brief summary of key
aspects of the funds. Full details of the funds can be found in the key investor information document and the sales prospectus,
supplemented in each case by the most recent audited annual report and the most recent half-year report, if this report is more
recent than the most recently available annual report. These documents constitute the sole binding basis for the purchase of
fund units. They are available free of charge in either electronic or printed form from FPM Frankfurt Performance Management
AG (FPM AG), Freiherr-vom-Stein-Str. 11, 60323 Frankfurt am Main, from DWS Investment GmbH, Mainzer Landstraße 178 –
190, D- 60327 Frankfurt am Main or from DWS Investment S. A., 2, Boulevard Konrad Adenauer, L-1115 Luxemburg. The
sales prospectus contains detailed information on the risks involved.
All opinions given in this product information reflect the current assessment of FPM Frankfurt Performance Management AG
which may change without notice. In cases where information contained in this document derives from third parties, FPM AG
accepts no liability for the accuracy, completeness or appropriateness of such information, also FPM AG only uses data that it
deems to be reliable. Calculation of performance is based on the time-weighted return (BVI method) and excludes initial
charges. Individual costs such as fees, commissions and other charges have not been included in this presentation and would
have an adverse impact on returns if they were included. Past performance is not a reliable indicator of future returns. Further
information on taxation can be found in the sales prospectus.
The units issued by DWS Investment S. A. under these funds may only be offered for purchase or sold in jurisdictions in which
such offer or sale is permitted. The units in these funds are not allowed to be offered for purchase or sold either in the US or to
or for the account of US citizens or US persons domiciled in the US. This document and the information contained therein
must not be distributed in the US. The distribution and publication of this document as well as the offering or sale of the fund’s
units may be subject to restrictions in other jurisdictions as well.
FPM Frankfurt Performance Management AG | Freiherr-vom-Stein-Straße 11 | D-60323 Frankfurt, Germany
Telephone: + 49 69 79 58 86 - 0 | Fax: + 49 69 79 58 86 - 14
E-mail: fpm-funds@fpm-ag.de | Internet: www.fpm-ag.de | www.fpm-deutsche-investmentaktiengesellschaft.de
1 Rating of 31.02.2010; more information at www.morningstar.de.
2 Rating of 31.01.2010; more information at www.feri.de
3 Total expense in per cent of the average fund volume of the fiscal year closed on 31 December. In accordance with the respective national practice,
this ratio only includes the expenses incurred for the investment fund (without transaction costs).
4 Calculated on the basis of time-weighted return (BVI method). Front-end load was excluded. Past performance is not a reliable indicator of future
returns.
5 The future trend indicator relates to each 12-month period indicated. On those days which fall on weekends or national holidays, the price from the
previous day or the last available price is used, as no stock quotations are made on such days.
6 Maximum historical loss/profit that would have been possible with an investment period of one/three year(s) since inception of the fund.
7 Volatility in % is calculated on the basis of weekly (up to 3 years) or monthly data (from 3 years). (Source: Deutsche Performancemessungs-
Gesellschaft für Wertpapierportfolios mbH (short: DPG))
8 The risk-free interest rate depends on the three-month interest rate. A negative sharpe ratio has no significance. (Source: Deutsche
Performancemessungs-Gesellschaft für Wertpapierportfolios mbH (short: DPG))
Please note the footnotes on page 4. Page 4 of 4 FPM Funds Stockpicker Germany Small/Mid Cap