DWS Announces Changes to International Value Opportunities Fund

June 21, 2010 (PLANSPONSOR.com) - DWS Investments, the U.S. retail unit of Deutsche Bank’s global Asset Management division, announced that the Board of Directors and shareholders of the DWS International Value Opportunities Fund have approved a resolution appointing Dreman Value Management L.L.C. as the fund’s sub-adviser.

The DWS International Value Opportunities Fund will be rebranded the DWS Dreman International Value Fund and will be managed by Cliff Hoover, Dreman’s co-chief investment officer.  

The new DWS Dreman International Value Fund will reflect three significant changes to its investment strategy: a change of benchmark from the MSCI EAFE Index to the Russell Global ex-US Value Index, permitted exposure to emerging markets now increases from 20% to 50%, and the use of ADRs to obtain greater foreign exposure will increase.   

Overall changes to the DWS Dreman International Value Fund’s investment strategy and portfolio management team, “reflect DWS’ dedication to providing clients with first class managers, be it through our internal centers of excellence or by hiring proven sub-advisers such as Dreman Value Management,” said Ingo Gefeke, Global Head of Distribution and Product Management at DWS Investments, in the announcement.

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