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B-25164-4 (5/16)
Announcements

As part of Deutsche Bank's new organizational structure, Deutsche Asset & Wealth Management is now two distinct businesses with Deutsche Asset Management representing the asset management activities conducted by Deutsche Bank AG or any of its subsidiaries. This change does not affect the management of your Deutsche fund(s). Effective May 9, 2016, key service providers were renamed as follows: Deutsche AM Service Company; Deutsche AM Distributors, Inc. and Deutsche AM Trust Company.

Take steps to avoid the $20 annual maintenance charge on accounts with balances below $10,000. Establish an automatic investment plan or sign up to "Go Paperless" opting for electronic delivery of all documents except tax forms on your account(s) and you can avoid the maintenance charge. To sign up for electronic delivery, log into your account and click on "Go Paperless." Elect to receive all materials electronically. For assistance, contact Shareholder Services at (800) 728-3337.

The world is full of potential opportunity. One-stop access to our global investment platform and the full resources and capabilities of Deutsche Bank can help to take advantage.

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Deutsche Asset Management.