Fund Description

The fund was incepted in December 1992 and is managed by Deutsche Investment Management Americas Inc. The fund seeks long-term capital appreciation by investing at least 80% of net assets in Latin American common stocks and other equities (equities that are traded mainly on Latin American markets, issued or guaranteed by a Latin American government or issued by companies organized under the laws of a Latin American country or any company with more than half of its business in Latin America). Latin America is defined as Mexico, Central America, South America and the Spanish-speaking islands of the Caribbean. Although the fund may invest in any Latin American country, it expects to invest primarily in common stocks of established companies in Argentina, Brazil, Chile, Colombia, Mexico, Panama and Peru. The fund management uses quantitative and field research to identify key regional economic and industrial themes, as well as changes such as privatization, improved inflow of direct foreign investment and the development of a business environment conducive to investment and growth. The fund pays dividends and distributions to its shareholders annually in November or December and, if necessary, may do so at other times as well.