Terms & Conditions

Copyright © 2021

Introduction

BEFORE ENTERING THIS WEBSITE (THE “WEBSITE”), PLEASE READ CAREFULLY THE FOLLOWING IMPORTANT TERMS AND CONDITIONS (THE "TERMS") THAT GOVERN YOUR ACCESS TO, AND USE OF, THIS WEBSITE, AND ACKNOWLEDGE YOUR AGREEMENT TO THEM. IF YOU AGREE TO THE TERMS, CLICK "ACCEPT" AT THE END OF THESE TERMS TO ENTER THIS WEBSITE. IF YOU CLICK "LEAVE PAGE" YOU WILL NOT BE ABLE TO ACCESS THIS WEBSITE. THESE TERMS ARE A BINDING AGREEMENT BETWEEN YOU AND DWS (UK) LIMITED, AND GOVERN YOUR ACCESS AND USE OF THE WEBSITE.

FOR PROFESSIONAL INVESTORS ONLY

THE CONTENT HEREIN IS RESTRICTED TO PROFESSIONAL INVESTORS, SUCH AS BANKS, INVESTMENT ADVISERS, PENSION FUNDS, INVESTMENT FUNDS, INSURANCE COMPANIES AND SIMILAR INSTITUTIONS AND IS NOT INTENDED FOR RETAIL INVESTORS. BY AGREEING TO THESE TERMS THE USER CONFIRMS AND ACKNOWLEDGES THAT HE/SHE IS ACTING IN HIS/HER CAPACITY AS A PROFESSIONAL INVESTOR OR REPRESENTING A PROFESSIONAL INVESTOR AND IS NOT ACTING IN A RETAIL CAPACITY.

YOU (THE "USER") AGREE NOT TO UNDERTAKE ANY ACT OR OMISSION THAT WOULD CONSTITUTE A BREACH OF THESE TERMS AND REPRESENT AND WARRANT THAT YOU ARE LEGALLY PERMITTED TO ACCESS AND USE THE WEBSITE.WHERE YOU USE THIS WEBSITE ON BEHALF OF YOUR EMPLOYER OR AN ORGANISATION, YOU REPRESENT AND WARRANT THAT YOU ARE AUTHORISED BY SUCH EMPLOYER OR ORGANISATION TO ACCESS AND USE THE WEBSITE AND AGREE TO THE TERMS ON THEIR BEHALF. IN SUCH CIRCUMSTANCES, EXCEPT WHERE EXPRESSLY PROVIDED TO THE CONTRARY “USER” SHALL REFER TO A USER AND ITS EMPLOYER OR THE ORGANISATION ON WHOSE BEHALF THE USER USES THE WEBSITE JOINTLY AND SEVERALLY.

THIS WEBSITE IS PROVIDED BY DWS (UK) LIMITED (REGISTERED IN ENGLAND AND WALES COMPANY NUMBER 05233891), WHICH IS AUTHORISED AND REGULATED BY THE FCA (FCA REGISTRATION NUMBER 429806). DWS (UK) LIMITED’S REGISTERED OFFICE IS AT 1 GREAT WINCHESTER STREET, LONDON EC2N 2DB. DWS IS THE BRAND NAME OF THE ASSET MANAGEMENT BUSINESS OF DEUTSCHE BANK AG.
THIS WEBSITE IS CURRENTLY INTENDED FOR THOSE USERS WHO ACCESS IT FROM WITHIN THE UNITED KINGDOM. BECAUSE OF THIS, DWS CANNOT GUARANTEE THAT THE WEBSITE OR THE INFORMATION WITHIN IT COMPLIES WITH OR IS APPROPRIATE FOR USE IN OTHER COUNTRIES AND ACCORDINGLY IT SHOULD ONLY BE USED BY USERS WHO ACCESS IT FROM WITHIN THE UNITED KINGDOM. FOR REGULATORY REASONS, IF YOU ARE NOT LOCATED IN THE UNITED KINGDOM YOU SHOULD NOT ACCESS THE WEBSITE.

DWS ACCEPTS NO LIABILITY FOR ANY DAMAGE OR LOSS INCLUDING LOSS OF PROFIT (DIRECT OR INDIRECT), CONSEQUENTIAL, SPECIAL OR INDIRECT LOSS, OR LOSS OF OPPORTUNITY, CUSTOMERS, CONTRACTS, REPUTATION OR GOODWILL, IN RESPECT OF THE USE OF THIS WEBSITE OR ITS CONTENT. HOWEVER, DWS (UK) DOES NOT EXCLUDE OR RESTRICT ANY LIABILITY THAT IT MAY HAVE UNDER THE FCA RULES AND ANY OTHER APPLICABLE LAWS OR REGULATIONS IN ENGLAND OR WALES. DWS DOES NOT RESTRICT ITS LIABILITY FOR PERSONAL INJURY OR DEATH RESULTING FROM ITS NEGLIGENCE, FOR FRAUD OR FOR ANY MATTER WHICH IT WOULD BE ILLEGAL FOR IT TO EXCLUDE OR TO ATTEMPT TO EXCLUDE ITS LIABILITY.

THESE MATERIALS AND ANY FUNDS DESCRIBED ON THIS WEBSITE ARE NOT BEING OFFERED OR TARGETED TO US PERSONS (AS DEFINED BELOW).

No offer

Nothing contained on this website should be considered as an offer to purchase any of the funds described on the website. Consequently, the information on this website does not constitute, and may not be used for the purposes of, an offer to acquire or sell any fund shares or units to any person in any jurisdiction. Pricing levels and valuations published on this website are indicative and this and other information displayed on this website is for information purposes only.

No investment advice

Information made available on this website should not be considered as legal, tax, investment or securities advice or any form of recommendation to purchase funds or services described on this website or any opinion regarding the appropriateness of any investment. You should seek professional advice on all of the foregoing before making any investment decision.

Prospectus, Supplement, Key Investor Information document or other applicable offering document (“Offering Documents”)

Full details of the fund/s can be found in the Offering Documents supplemented in each case by the most recent audited annual report and the most recent half-year report, if the latter report is more recent than the most recently available annual report. Offering Documents referring to a specific fund (including sub-funds) are available in English on this website. Users should carefully read the information contained in such documents (including the latest version of the Key Investor Information document) before making any investment decision.

Historical performance

Past performance information (either actual or simulated) contained on this website is not a reliable indicator of future results.

No warranties for contents

Although reasonable care has been used to ensure that the information set out on this website is reliable, no warranty is made as to its accuracy, completeness and adequacy. Any opinions expressed reflect the current view of DWS, in its capacity as distributor, which may change without notice.

Use of the website

DWS reserves the right to partly or completely change the website at any time and to restrict, interrupt or terminate its service without prior notice.

Changes of Terms

DWS  reserves the right to modify or amend these terms at any time and  invites you to consult these terms and conditions from time to time to familiarise yourself with the changes.

Copyright

Content and design of the website are the property of DWS and are protected by copyright. Any copying, publication, reproduction, distribution, re-transmission, assigning or use of any portion of the website or of its content requires the prior written consent of DWS.

Privacy and Cookies

At DWS we recognize the importance of personal information entrusted to us. It is one of our fundamental responsibilities as an asset manager to ensure that we protect the information entrusted to us by our clients and our website visitors. Please find below select security measures we established to protect your privacy.

Why does DWS collect personal information?

We collect, process, and use personal information on our websites in order to offer you even better products and services, best adapt our business processes to our clients’ needs, and steer you to the most suitable product information and applications.

How is information collected and how long is it retained?

Information collected on our website will only be retained for as long as necessary to fulfil the purpose for which it was collected. If you wish to access or correct any information, you may have your data deleted, blocked or corrected (if compliant with applicable law). You have the right to access the personal information we hold about you; this service is free of charge.
Furthermore, DWS strives to continuously improve the website. For this reason, we collect anonymized data on the use of our website, such as domain of origin, number of page views, length of stay, etc. This data is used purely for statistical and market research purposes and is not passed on to third parties. For this purpose, we use the offer of Mapp Digital c/o Webtrekk GmbH (Berlin). It collects and evaluates anonymized information that is transmitted by your browser when visiting the DWS website. You can object to the procedure for the future by clicking here:

Opt-Out

In accordance with the requirements of European data protection law, our website visitors are informed separately about any collection of personal data on the websites concerned that goes beyond the use of Mapp Digital. We do not collect, use or process any personal data without your explicit consent, which can also be declared electronically (e.g. when requesting brochures). Once consent has been given, it can be revoked at any time.

How is information retained, protected, and used?

Information input collected through this website will be transferred to the responsible DWS division. Banking secrecy as well as confidentiality are maintained. Data will not be transferred to third parties, unless necessary to answer your queries (i.e. leaflets dispatched by vendors). Your information is used to exclusively fulfil the purpose for which it is collected, relating to the website through which it is collected.

Websites through which we collect your information are usually encoded using the encryption module of your browser. These sites are certified by renowned institutions for international encryption technique. Moreover, DWS put in place additional and comprehensive state-of-the-art security measures when both accounts and custody accounts are accessed via the internet. Firewalls prevent unauthorized access.

Diverse encryption and identification layers protect customer information from intrusion or disclosure to third parties during data transfer. Furthermore, DWS internally uses sophisticated encryption methods in order to prevent de-coding by unauthorized persons. Moreover, an electronic identifier is generated during data transfer to safeguard your information.

Cookies

In view of the importance of data privacy, and our obligations of transparency, we provide information below about cookies, how we use them on our website based on Article 6 GDPR, lawfulness of processing, and what options you have if you want to activate or deactivate these cookies.

What are cookies?

Cookies are small text files that are sent to your computer to ensure the technical functionality of the website. DWS uses cookies in some areas of its web pages to make it easier for you to use the pages and to make them more personalized.

When trying to understand and manage cookies, it can help to know following terminology:

 

  • Cookies installed on your device by the organization running the website you are visiting are known as “first party” cookies.
  • Cookies installed on your device via the website you are visiting by another organization are termed “third party” cookies. An example is a cookie set by a specialist website analytics company that provides the website owner with data on the numbers of people visiting its website (cookies for reach and usage analysis).
  • So-called “persistent cookies” remain on your device even after you close your internet browser. They are activated each time you visit the website that created that particular cookie. For example, where a "persistent cookie" is used on a website to remember your login details, you will not need to enter those details each time you visit that website (functional and preference cookies).
  • "Session cookies", by contrast, are temporary and are typically used to enable the website to operate, e.g. by permitting a user to move from page to page without having to log in again. Once you close your browser, all session cookies are deleted (technically necessary cookies).
  • "Flash cookies" are installed by websites that contain media (e.g. video clips). Adobe Flash software is required for this. This allows content to be downloaded more quickly and information to be stored, for example that the content has been accessed from your device (functional and preference cookies).

What cookies do we use?

Essential Cookies

Our websites use cookies, which are necessary for the technical functionality of our websites and the detection of errors and security-relevant anomalies or to offer a service or option you have requested.

Functional and preference cookies

Functional and preference cookies enable our website to save information that has already been entered (such as username, language selection or location information) and to offer improved, personalized functionalities. Such cookies are also used to enable functionalities such as playing videos.

Analysis cookies

We strive to continuously improve the website. For this purpose, we use cookies providing us with overall statistics about the number of visitors, which areas of a page are viewed most frequently, information about the city or location of the users and the length of stay, etc. but also as a statistical audience tool to assess the success of digital communication and marketing measures. These can be installed by external analysis providers commissioned by us.

To adapt our website to your interests and needs, as well as for the purpose of market research, we analyze data that is generated when visiting our website in case you have given explicit consent to analysis cookies. We use the Mapp Digital c/o Webtrekk GmbH (Berlin) offers for this purpose.

Mapp Digital collects anonymized usage data on our website visitors' browsing behavior on our behalf. For this purpose, Mapp Digital sets a session cookie through your browser. The session cookie enables us to record your visit across several DWS websites. The session cookie is set anew each time you visit our website and expires after you leave our website. Mapp Digital also sets a temporary cookie that enables us to identify you pseudonymized using the cookie ID as a returning visitor to our website.

Marketing Cookies

Our websites use cookies so that we can measure and optimize the success of our marketing campaigns. To do this, we track the needs of users in order to prevent them from being shown content that is not relevant to them. Based on these cookies, we personalize our marketing campaigns to the needs of the users.

If you have consented to the use of marketing cookies, we use the re-marketing technology of our below listed partners on our website. It enables us to recognize visitors to our websites on the websites of our advertising partners using a pseudonym and to address them with information relating to their interests. During a visit to our website, a temporary cookie from our advertising partners is placed by the browser of your end device as part of the re-marketing. This cookie enables us to carry out the re-marketing in real time.

To display advertisements on the websites of our advertising partners, we use technologies, so-called "remarketing pixels", from third-party providers. The "remarketing pixels" also use cookies to assign a pseudonymized identification number to your browser. The use of cookies enables publishers (based on your visits to our website) to place advertisements on the websites of our advertising partners. The cookies do not contain any information that would allow conclusions to be drawn about you as a natural person.

If you want to prevent the use of these cookies, you can deactivate the marketing cookies under cookie settings. This also prevents the transmission of data to the above-mentioned publishers.

As part of re-marketing, no personal data will be processed or passed on to Mapp Digital or our advertising partners without your explicit consent.

The following cookies are used if you have given your consent:

Cookie-name

Purpose

Category

Lifetime

Type

Processing entity

Tealium Collect

 

Collects data on user preferences such as language settings or topic preferences

Functional and preference cookies

1 Year

Session-Cookie

Tealium

11095 Torreyana Road

San Diego, CA 92121

EID Ever ID / Cookie ID

Collects aggregated data on website usage and functioning

 

Essential Cookies

6 Months

Session-Cookie

Mapp Digital Germany GmbH

Robert-Koch-Platz 4

10115 Berlin

Google Analytics

Collects aggregated data on website usage

Analysis cookies

2 Years

Session-Cookie

Google Ireland Limited

Google Building Gordon House

4 Barrow Street

Dublin D04 E5W5, Ireland

Google Remarketing

Enables targeted display advertising

Marketing Cookies

30 Days

Session-Cookie

Google Ireland Limited

Google Building Gordon House

4 Barrow Street

Dublin D04 E5W5, Ireland

Facebook Pixel

Enables targeted Social Media Marketing

Marketing Cookies

88 Days

Session-Cookie

Facebook Ireland Limited

4 Grand Canal Square

Grand Canal Harbour

Dublin, D02, Ireland

LinkedIn

Enables targeted Social Media Marketing

Marketing Cookies

2 Years

Session-Cookie

LinkedIn Ireland Unlimited Company

Wilton Place, Dublin 2, Ireland

 

How to control cookies

Some cookies allow you to take full advantage of the functionality of our website. In order to offer certain functionalities, certain technically necessary cookies can be used to display these functionalities correctly.

You can set your web browser to disable cookies. Please note that most browsers offer different ways to protect your privacy. If you do not activate or deactivate certain cookies via the browser settings, it is possible that certain functionalities will not be available to you as expected. For example, you can allow first-party cookies, but block third-party cookies, or receive a notification each time a website wants to install a cookie.

Please note that if you disable cookies in this way, you will not be able to set new cookies. However, it will not prevent previously set cookies from continuing to work on your device until you clear all cookies in your browser settings. Instructions for managing cookies on your browser can usually be found under the browser's help function or in the operating instructions for your smartphone.

Safety of Communication

Communications over the internet and by e-mail cannot be guaranteed to be secure. There is a risk that information contained within an e-mail communication and any attachment thereto, including potentially confidential information, may be intercepted, lost, destroyed, corrupted or delayed in transmission. Although DWS will use reasonable efforts to minimise such risk, it does not warrant that any communication or e-mail or any attachments thereto, that is sent out, will be free from viruses, worms or other harmful components.

Hyperlinks

Certain hypertext links on the website may lead the user to websites that are not under the control or charge of DWS. When the user clicks on such a link, he/she leaves this website. DWS is not responsible with respect to any material contained in or conducted through any other third party website.

Governing Law

These terms and any non-contractual obligations arising out of or in connection with them are exclusively governed by and shall be construed in accordance with the laws of England and Wales.

Jurisdiction

All Users are subject to the exclusive jurisdiction of the courts of England and Wales in respect of any disputes arising under these terms, including a dispute relating to non-contractual obligations arising out of or in connection with these terms.

Other agreements

If at any time any provision (or part of any provision) of these Terms is, or becomes, illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect the legality, validity or enforceability in that or any other jurisdiction of any other provision (or any other part of such provision) of these terms.

Selling restrictions

The products described on this Website are not eligible for sale in all countries. The Offering Documents contain information as to the selling restrictions applicable to any particular fund and the User should read them carefully.

In particular, the following restrictions apply:

Residents of the United States of America:

The information set out on this website is not directed to the United States of America. US persons (as defined in Regulation S under the US Securities Act 1933) and persons resident in the United States may not enter the website. Information from this website may not be distributed or redistributed into the United States or into any jurisdiction where it is not permitted. Any securities described on this website have not been and will not be registered under the US Securities Act of 1933 as amended and trading in the securities has not been approved for purposes of the US Commodities Exchange Act of 1936. The securities may not be offered or sold in the United States, to US persons or persons resident in the United States of America.

The funds described on this website are only offered or sold to persons in jurisdictions, if and to the extent that applicable law permits.

Potential Conflicts

It may be that companies of the Deutsche Bank Group (which means a member of a group of companies controlled by Deutsche Bank AG) and /or administrative boards or employees of companies in the Deutsche Bank Group have/had units or positions in the relevant funds listed on this website. Furthermore, it is also possible that the companies of the Deutsche Bank Group and/or administrative boards or employees of companies of the Deutsche Bank Group and/or administrative boards or employees of companies of the Deutsche Bank Group have /had a connection to the relevant funds, provide/provided these funds with corporate finance or other services or serve/served as directors on management boards/relevant companies.

Telephone recording

Telephone calls to DWS (UK) Limited may be recorded. Such telephone recordings are the property of DWS (UK) Limited.

 

Important Information regarding the second Shareholder Rights Directive (SRD II)

Based on the second shareholder rights directive (SRD II) asset managers have to disclose certain information. Below is the summary of where to find SRD II relevant information:

-Engagement policy incl. information on investment decisions, voting, use of proxy advisors, securities lending policy and conflicts of interest see Quick Access section at the bottom of www.dws.com.

-Once available, information on the portfolio turnover of the funds can be found on the “funds.dws.com/ie” homepage in the “fund facts” section for each fund.

-Information on the portfolio composition and the turnover costs will be published in the annual report of the respective fund.

-Information on the key material medium to long-term risks associated with the investments are as follow:
Equities listed on a regulated market situated or operating within the European Economic Area (EEA) are subject to various mid- and long term risks. The key risks include:

- Political tensions and adverse developments within and between countries as well as regions (e.g. trade conflicts and controversial policy actions by governments and regulators)
- Macroeconomic risks such as debt crisis, recession and unexpectedly high inflation or deflation
- Significant price volatility in equity, currency, bond and commodity markets
- Specific risks of single stocks and industry sectors (e.g. fraud, obsolete business models, corporate governance)
- Declining liquidity of market segments or single stocks (may lead to significant price discounts)
- Other risks which have the potential to negatively impact the equity markets such as natural disasters, epidemics, terrorist attacks and wars

The assessment of medium and long-term risks as well as potential return opportunities is an integral part of the DWS investment process. Our teams of experienced analysts and portfolio managers continually analyse the relevant markets as well as the political and economic environment. Furthermore, our strategic CIO View provides both clients and portfolio managers an outlook and orientation for risk-adjusted investment decisions.

 

Additional Information

The information on this website relating to securities and financial services has been reviewed exclusively as to compliance with the laws of England & Wales. In other jurisdictions, the furnishing of any such information may be restricted by law. The information on this website is not intended for persons or entities resident, located or registered in jurisdictions that restrict the distribution of such material. Consequently, the information on this website does not constitute, and may not be used for the purposes of, an offer to acquire or sell any securities to any person in any jurisdiction:

  1. 1. in which any such offer is not authorised;
    2. in which DWS  is not qualified to make such offer; or
    3. on which it is unlawful to make any such offer.
  2. Anyone accessing this website from a jurisdiction in which any such restrictions apply should inform themselves about, and observe such restrictions. If you are a person located in any jurisdiction where there are restrictions on the type of person who may access information on this website, by entering this website, you will be undertaking, warranting and representing to DWS that you are not causing DWS to breach any of those restrictions by your accessing of the website.
  3. The securities referred to on this website have not been and will not be registered under the United States Securities Act of 1933 , as amended, and may not be offered or sold within the United States except pursuant to any exemption from, or within the framework of a transaction not subject to, the registration requirements of the Securities Act.
  4. Therefore, the securities described in this website may not be sold to U.S. nationals or US persons or otherwise be transferred to the United States of America unless the relevant transaction is not subject to registration requirements under U.S. law.
  5. DWS shall not be liable for any information contained in or activities conducted through the websites of any other companies which are hyperlinked to the website of DWS.