Deutsche Bank’s Asset Management business is one of the world’s largest investment management organisations. We have offices all over the world, allowing us to draw on a breadth of investment skills, resources and insights to enhance the service that we deliver to investors.

In Australia, Deutsche Bank’s asset management business is comprised of a specialist team wholly dedicated to institutional investment across infrastructure, property securities, fixed income and equities.

Our institutional philosophy is based on two fundamental, but equally important principles. Firstly, as a fiduciary, Deutsche Asset Management always endeavours to act in the best interests of our clients. Secondly, as a business, Deutsche Asset Management commits to helping our clients fulfil their investment goals. Everything we do, from our global investment platform and broad research capabilities to our sophisticated risk management systems, is dedicated to this purpose.

Our Australian and New Zealand business leverages the competitive advantages that come from our global strength in asset management and financial markets. Through our market-leading global brands - RREEF Alternative Investments, DB Advisors, Deutsche Insurance Asset Management and DWS Investments, and our retail distribution partner Ironbark Asset Management, we specialise in delivering alternative investments, innovative global products and global insurance solutions to our clients.

Capabilities

Infrastructure

Deutsche Asset Management’s infrastructure capabilities are offered by RREEF Infrastructure. RREEF has been investing in and actively managing infrastructure assets since the mid-1990s. Value is created for its infrastructure clients with a strong fiduciary focus and RREEF’s role as an independent manager where client interests are considered paramount. Clients also benefit from RREEF’s extensive direct regional experience in all aspects of the infrastructure investment life cycle including acquisition, enhancement through active asset management and exit.

RREEF’s active management approach is designed to mitigate investment risks and lead to improve efficiency, profitability and alignment. RREEF also seeks to influence operations through its control rights.

RREEF Alternative Investments None of Deutsche Bank AG nor its related entities (together "Deutsche") guarantee the performance of any fund, security or other financial product included in this site nor the repayment of any capital, and Deutsche makes no representation as to the success or otherwise of any such financial product. Investing in a financial product is subject to investment risk including possible loss of income or principal invested and Deutsche does not guarantee the performance of the funds or the repayment of investors. Past performance is not indicative of future results. None of Deutsche Bank AG nor its related entities (together "Deutsche") guarantee the performance of any fund, security or other financial product included in this site nor the repayment of any capital, and Deutsche makes no representation as to the success or otherwise of any such financial product. Investing in a financial product is subject to investment risk including possible loss of income or principal invested and Deutsche does not guarantee the performance of the funds or the repayment of investors. Past performance is not indicative of future results. Property Securities

Deutsche Asset Management’s property securities capabilities are offered by RREEF Securities. RREEF’s dedicated real estate securities team have been managing real estate securities since 1993 and global strategies since 2004. RREEF’s investment process has been substantially unchanged since its inception and follows a clearly defined philosophy aimed to deliver performance through detailed stock and market research. The team seeks to maximise returns to clients by investing in a select number of real estate securities with strong cash flow growth potential and to uncover hidden value or earnings surprises by understanding the companies’ existing portfolios and potential to acquire or develop assets under attractive terms.

Key strategies include Australian property securities and Global REITs.

RREEF Alternative Investments None of Deutsche Bank AG nor its related entities (together "Deutsche") guarantee the performance of any fund, security or other financial product included in this site nor the repayment of any capital, and Deutsche makes no representation as to the success or otherwise of any such financial product. Investing in a financial product is subject to investment risk including possible loss of income or principal invested and Deutsche does not guarantee the performance of the funds or the repayment of investors. Past performance is not indicative of future results. None of Deutsche Bank AG nor its related entities (together "Deutsche") guarantee the performance of any fund, security or other financial product included in this site nor the repayment of any capital, and Deutsche makes no representation as to the success or otherwise of any such financial product. Investing in a financial product is subject to investment risk including possible loss of income or principal invested and Deutsche does not guarantee the performance of the funds or the repayment of investors. Past performance is not indicative of future results. Fixed Income

Deutsche Asset Management’s fixed income team has developed an innovative approach to meeting investors’ need for attractive risk-adjusted returns with low volatility. The team’s approach to optimising risk adjusted returns is to utilise independent, active, global alpha strategies from traditional, mature and relatively liquid fixed income strategies. Importantly, Deutsche Asset Management does not rely solely on credit markets to deliver returns. There are currently over 200 different investment overlay strategies researched by our alpha specialists.

Key strategies for Australian clients include Cash + 250bps and Bonds + 150bps.

DB Advisors None of Deutsche Bank AG nor its related entities (together "Deutsche") guarantee the performance of any fund, security or other financial product included in this site nor the repayment of any capital, and Deutsche makes no representation as to the success or otherwise of any such financial product. Investing in a financial product is subject to investment risk including possible loss of income or principal invested and Deutsche does not guarantee the performance of the funds or the repayment of investors. Past performance is not indicative of future results. None of Deutsche Bank AG nor its related entities (together "Deutsche") guarantee the performance of any fund, security or other financial product included in this site nor the repayment of any capital, and Deutsche makes no representation as to the success or otherwise of any such financial product. Investing in a financial product is subject to investment risk including possible loss of income or principal invested and Deutsche does not guarantee the performance of the funds or the repayment of investors. Past performance is not indicative of future results.

• Deutsche Insurance Asset Management None of Deutsche Bank AG nor its related entities (together "Deutsche") guarantee the performance of any fund, security or other financial product included in this site nor the repayment of any capital, and Deutsche makes no representation as to the success or otherwise of any such financial product. Investing in a financial product is subject to investment risk including possible loss of income or principal invested and Deutsche does not guarantee the performance of the funds or the repayment of investors. Past performance is not indicative of future results.
None of Deutsche Bank AG nor its related entities (together "Deutsche") guarantee the performance of any fund, security or other financial product included in this site nor the repayment of any capital, and Deutsche makes no representation as to the success or otherwise of any such financial product. Investing in a financial product is subject to investment risk including possible loss of income or principal invested and Deutsche does not guarantee the performance of the funds or the repayment of investors. Past performance is not indicative of future results.

Equities

Deutsche Asset Management offers a wide range of innovative fundamental and quantitative equity strategies, from passive and enhanced passive strategies to active equity. We cover global, regional and local markets and companies of varied capitalisations, industries and growth characteristics. In every strategy, we follow a highly disciplined investment process and incorporate rigorous risk management techniques.

Key strategies include Global Thematic and Diversification Based Investing.

DB Advisors None of Deutsche Bank AG nor its related entities (together "Deutsche") guarantee the performance of any fund, security or other financial product included in this site nor the repayment of any capital, and Deutsche makes no representation as to the success or otherwise of any such financial product. Investing in a financial product is subject to investment risk including possible loss of income or principal invested and Deutsche does not guarantee the performance of the funds or the repayment of investors. Past performance is not indicative of future results. None of Deutsche Bank AG nor its related entities (together "Deutsche") guarantee the performance of any fund, security or other financial product included in this site nor the repayment of any capital, and Deutsche makes no representation as to the success or otherwise of any such financial product. Investing in a financial product is subject to investment risk including possible loss of income or principal invested and Deutsche does not guarantee the performance of the funds or the repayment of investors. Past performance is not indicative of future results. Managed Investment Schemes

Deutsche Asset Management is the Responsible Entity for a number of DWS Investments and RREEF Managed Investment Schemes in Australia. Ironbark Asset Management has been granted distribution rights relating to Deutsche Asset Management (Australia) Limited’s current retail fund range in Australia.

Ironbark Asset Management None of Deutsche Bank AG nor its related entities (together "Deutsche") guarantee the performance of any fund, security or other financial product included in this site nor the repayment of any capital, and Deutsche makes no representation as to the success or otherwise of any such financial product. Investing in a financial product is subject to investment risk including possible loss of income or principal invested and Deutsche does not guarantee the performance of the funds or the repayment of investors. Past performance is not indicative of future results. None of Deutsche Bank AG nor its related entities (together "Deutsche") guarantee the performance of any fund, security or other financial product included in this site nor the repayment of any capital, and Deutsche makes no representation as to the success or otherwise of any such financial product. Investing in a financial product is subject to investment risk including possible loss of income or principal invested and Deutsche does not guarantee the performance of the funds or the repayment of investors. Past performance is not indicative of future results.

• DWS Investments None of Deutsche Bank AG nor its related entities (together "Deutsche") guarantee the performance of any fund, security or other financial product included in this site nor the repayment of any capital, and Deutsche makes no representation as to the success or otherwise of any such financial product. Investing in a financial product is subject to investment risk including possible loss of income or principal invested and Deutsche does not guarantee the performance of the funds or the repayment of investors. Past performance is not indicative of future results.
None of Deutsche Bank AG nor its related entities (together "Deutsche") guarantee the performance of any fund, security or other financial product included in this site nor the repayment of any capital, and Deutsche makes no representation as to the success or otherwise of any such financial product. Investing in a financial product is subject to investment risk including possible loss of income or principal invested and Deutsche does not guarantee the performance of the funds or the repayment of investors. Past performance is not indicative of future results.

For further information about our capabilities and our offerings for Australian and New Zealand investors, please contact:

Stephen O'Brien
Acting CEO
Deutsche Asset Management

Tel: +61 2 8258 1141
Fax: +61 2 8258 1600
Email: [stephen.obrien@db.com]