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DWS Invest Forex Strategy


									  DWS Invest Forex Strategy

  Absolute/Total return funds

                                                                                                                                         July 2008                          As at 31/07/2008

Fund data                                         Performance
                                                  Performance - Share class LC(EUR)                                                                                                      (in %)
Investment policy
At least 70% of the Fund’s assets are
invested in global currency markets through
investments in securities and derivatives. The
issuance of new units for LS share class will
be discontinued effectively on 15 September
2008. Subject to regulatory approval, the LS
share class will be merged with the LC share
class of the same subfund on 26 September

                                                  Calculation of performance is based on the time-weighted return and excludes front-end fees. 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.

                                                  Cumulative performance (in %) - Share class LC(EUR)
                                                                    1m             1y            3y                           5y               s.launch                3y Ø              5y Ø
                                                  EUR                       0.2              1.9                --               --                  3.0                    --                  --

Portfolio management´s
Equity markets once again were hit on the         Key figures regarding the Fund's assets
ongoing uncertainty in financial markets with
the stability of Fannie Mae and Freddie Mac       Yield (in %)     5.5                   Coupon (in %)        4.9        Maturity (in years)     1.2           Duration (in years)      0.1
being put at question.
Steps taken by the Fed and US Treasury to
support these institutions led to a recovery in
risky markets. EM were not affected by these
turmoils and stayed stable or even                Portfolio Analysis
appreciated in July. Mainly Latin America as
                                                  Top Longs                                (in % of fundvolume)            Top Shorts                                 (in % of fundvolume)
well as Asia performed well where inflation
fighting by local central banks had some          (Longs = investing currencies)                                           (Shorts = funding currencies)
supporting effects. EURUSD consolidated
around the 1.57 level after failing again to      Norwegian Kroner                                             4.62        United States Dollar                                        -13.54
break the 1.60 level significantly. So the
range trade should continue for now, even         Australian Dollar                                            4.24        Euro                                                         -4.21
though the arguments against EUR like             Canadian Dollar                                              3.26        Turkish Lira New                                             -2.10
central bank policy and relative economic         Swedish Krona                                                2.55        South African Rand                                           -1.37
performance weigh on the EUR sentiment.
                                                  Swiss Franc                                                  1.58
The JPY is still driven by outflows as
Japanese investors continue to buy foreign
currency denominated assets, especially high
yielding assets in ZAR, TRY and BRL.

                                                  Breakdown by issuer                     (in % of bond holdings)          Investment ratio                          (in % of fundvolume)
                                                  AAA                                                        11.62         Bonds                                                         81.7
                                                  AA                                                         36.69         Funds                                                          3.5
Portfolio manager                                 A                                                          17.94         Cash and other assets                                         14.8
Dr. Asoka Woehrmann                               BBB                                                        15.69
                                                  N.R.                                                        3.45
                                                  Cash                                                       14.60

Page 1 of 2
     DWS Invest Forex Strategy

     fund category: return funds

                                                                                                                                                                    July 2008                           As at 31/07/2008

Portfolio Information
                                                               DWS Invest Forex Strategy                    JPM Global Gov. Bond Index                                      1M EUR LIBID
                                                                Anteilsklasse LC(EUR)                            (hedged in EUR)
2006                                                                             0.33% (3)                                 -0.75% (3)                                             0.28% (3)
2007                                                                             1.42% (3)                                  4.51% (3)                                             4.02%
January 2008                                                                     0.50%                                      1.85%                                                 0.35%
February 2008                                                                    0.26%                                      0.76%                                                 0.34%
March 2008                                                                       0.27%                                      0.23%                                                 0.34%
April 2008                                                                       -0.10%                                    -1.12%                                                 0.35%
May 2008                                                                         0.08%                                     -1.02%                                                 0.36%
June 2008                                                                        -0.09%                                     0.17%                                                 0.36%
July 2008                                                                        0.22%                                      1.29%                                                 0.36%
August 2008                                                                           --                                           --                                                     --
September 2008                                                                        --                                           --                                                     --
October 2008                                                                          --                                           --                                                     --
November 2008                                                                         --                                           --                                                     --
December 2008                                                                         --                                           --                                                     --
Year to date                                                                     1.16%                                      2.14%                                                 2.48%
Since launch                                                                     2.98% (2)                                  5.95% (3)                                             6.90% (3)
Risk figures
Volatility                                                                           n/a (4)                                     n/a (4)                                             n/a (4)
Sharpe Ratio                                                                         n/a (4)                                     n/a (4)                                             n/a (4)
Best month                                                                       0.50% (2)                                  1.85% (3)                                             0.39% (3)
Worst month                                                                      -0.27% (2)                                -1.12% (3)                                             0.00% (3)
Number of positive months                                                            17 (3)                                       14 (3)                                              21 (3)
Number of negative months                                                              5 (3)                                       7 (3)                                                  0 (3)
Maximum Drawdown                                                                 -0.27% (2)                                -1.35% (3)                                                     -- (3)
Longest period of losses (in months)                                                   1 (2)                                       2 (3)                                                  -- (3)
(1) Source: Bloomberg, internal calculation
(2) since launch on 20/11/2006
(3) since 30/11/2006
(4) Figures: 3 years

 Cumulative performance (in %)
                       1m                                          1y                              3y                      5y                          s.launch                    3y Ø                     5y Ø
 LC(EUR)                                  0.2                       1.9                                --                   --                             3.0                       --                       --
 NC(EUR)                                  0.2                       1.6                                --                   --                             2.3                       --                       --
 LD(EUR)                                      --                     --                                --                   --                             0.2                       --                       --
 FC(EUR)                                  0.3                       2.5                                --                   --                             4.0                       --                       --
 LS(EUR)                                  0.2                       1.8                                --                   --                             2.8                       --                       --
 FD(EUR)                                  0.3                       2.5                                --                   --                             3.4                       --                       --

 Fund data
Management company                                        DWS Invest              Fund currency                                                 EUR         Launch date                                          20/11/2006
DWS-Risk-Class                                                        2           Assets                                         320.8 Mio. EUR             Fiscal year end                                      31/12/2008
Management location                                            Germany

 Share Classes
Share          Cur.            ISIN-Code            German         Earnings             Front-end load Issue price   Redemption            Interim gains   Management       Total expense               plus        Minimum
Class                                              sec. code                               ¹ up to                     price                                  fee          ratio 31/12/2007        performance-      invest-
                                                                                                                                                                                                    related fee       ment

LC             EUR          LU0273151430           DWS 0CC       Accumulation                  3.00%        106.16       102.98                 2.28             1.10% *          1.31%                 0.00%             --
NC             EUR          LU0273149376           DWS 0CD       Accumulation                  1.50%        103.83       102.27                 2.24             1.40% *          1.75%                 0.00%             --
LD             EUR          LU0363469908           DWS 0TL        Distribution                 3.00%        103.29       100.19                 0.36             1.10% *                   --           0.00%             --
FC             EUR          LU0273149533           DWS 0CF       Accumulation                  0.00%        103.99       103.99                 2.41             0.60% *          0.74%                 0.00%        400,000
LS             EUR          LU0273151786           DWS 0CE       Accumulation                  3.00%        105.96       102.78                 2.26             1.20%            1.42%                     --            --
FD          EUR      LU0298697748                  DWS 0FC        Distribution                 0.00%        101.16       101.16                 2.35             0.60%            0.73%                     --       400,000
*plus performance-related fee

Address                                                              Note
 DWS Investment GmbH                                                  1 Based on the gross investment.

 Mainzer Landstraße 178-190                                           Figures subject to audit. The current sales prospectus which is legally binding for the purchase of fund units is available from your financial
 60327 Frankfurt am Main                                              consultant or DWS. The sales prospectus contains detailed information about risk. Evaluations made in this report may change at any time
 Tel.: +49 (0)1803 - 10 11 10 11*                                     whithout prior announcement. These statements are based on our assessment of the current legal and tax information.
 Fax: +49 (0)1803 - 10 11 10 50*
 *(0,09 EUR/Min.)

 Page 2 of 2
  Legal Disclaimer

Units may only be subscribed and held as outlined in the prevailing current version of the DWS Invest (the "Company") prospectus. The Company is an
investment company with variable capital constituted under Luxembourg law (SICAV) with multiple subfunds consisting of various classes of units.
Reproduction and publication of DWS reports require the express consent of DWS Invest. Information in this document is exclusively for purposes of product
description and does not constitute investment advice. Fund units may only be acquired on the basis of the prevailing current prospectus, in conjunction with
the annual and semi-annual reports, where applicable. The prospectus may be obtained free of charge from your investment advisor, from DWS Investment
GmbH, Mainzer Landstrasse 178 - 190, 60327 Frankfurt am Main, or from DWS Invest, 2, Boulevard Konrad Adenauer, 1115 Luxembourg as well as the
distributors and paying agents. The prospectus contains detailed information on investment risks. Information contained in this document is based on our
assessment of the current legal and tax situation. Points of view expressed herein represent the current assessments made by DWS Investments and are
subject to change without notice. Past performance is no guarantee of future results. Units issued by DWS Invest SICAV may only be sold or offered for sale
in jurisdictions in which such offer or sale is permitted. In particular, units issued by DWS Invest SICAV are not qualified under the current version of the US
Securities Act of 1933 and may therefore not be offered for sale or sold within the United States, or to individuals residing in the United States, or to US

The following sales and payment offices are maintained:

Main sales company                               Austria                                                       Switzerland
                                                 Deutsche Bank AG                                              Deutsche Bank (Suisse) S.A.
DWS Investment S.A.                              Vienna Branch                                                 3, place des Bergues
2, Boulevard Konrad Adenauer                     Hohenstaufengasse 4, A-1010 Wien                              CH-1201 Geneva
L-1115 Luxemburg
                                                 Belgium                                                       Deutsche Bank (Schweiz) AG
                                                 Deutsche Bank NV/S.A.                                         Bahnhofquai 9/11
Payment offices                                  13-15, avenue Marnix                                          CH-8001 Zurich
                                                 B-1000 Brussels
Luxemburg                                                                                                      Deutsche Bank (Svizzera) S.A.
Deutsche Bank Luxemburg S.A.                     France                                                        Via Ferruccio Pelli A
2, Boulevard Konrad Adenauer                     Société Générale                                              CH-6901 Lugano
L-1115 Luxemburg                                 29, boulevard Haussmann
                                                 F-75009 Paris                                                 Portugal
Germany                                                                                                        Deutsche Bank de Investimento S.A.
Deutsche Bank AG                                 Spain                                                         Rua Castilho 20, Apartado 21103
Taunusanlage 12                                  Deutsche Bank S.A.E.                                          P-1128 Lisbon
D-60325 Frankfurt am Main                        Avenida Diagonal 446, E-08006 Barcelona
and its branches                                                                                               Netherlands
                                                 Italy                                                         Deutsche Bank AG
Deutsche Bank                                    State Street Bank                                             Amsterdam Branch
Privat- und Geschäftskunden AG                   Via Turati 16 20121 Milan                                     Herengracht 450-454
Ulmenstraße 37-39                                                                                              NL-1017 Amsterdam
D-60325 Frankfurt am Main
and its branches

Risk Disclaimer

There are risks associated with investment in fund units. Risks may include those associated with or inherent to stock and bond market risks; foreign
exchange, interest rate, credit and volatility risks; and political risks. All of these risks may appear in conjunction with other risks. Some of these risk factors are
briefly discussed below. Potential investors should have experience in investing in financial instruments in line with the proposed investment policy. Investors
should be clear about the risks associated with an investment in the units, and should only make an investment decision after detailed consultation with their
legal, tax and financial advisors, accountants, or other advisors, about (i) the suitability of an investment in the units in consideration of their personal financial
or tax situation and other circumstances, (ii) the information contained in the prospectus, (iii) the investment policy of the individual fund, and (iv) the risks
associated with the investment in view of the investment policy of the individual fund. Investors should bear in mind that while investments in individual funds
may increase in value they also carry risks. Units in an individual fund are securities whose price is determined by the price fluctuations of the securities in
which the fund invests. The value of the units may increase or decrease in value in relation to the purchase price. No guarantee can be provided that the goals
of the investment policy will be met.

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