Deutsche Asset Management Launches Three Global Sector Funds; New Funds Build on Firm's Global Reach, Resources

Apr 02, 2001, 01:00 ET from Deutsche Asset Management

    NEW YORK, April 2 /PRNewswire/ -- Deutsche Asset Management (DeAM) today
 announced the launch of three global sector funds designed to capitalize on
 evolving market trends and to underscore the company's commitment to bring
 innovative products to the market.
     By tapping into the extensive resources of the company's worldwide
 investment network, Deutsche Asset Management will offer US investors three
 new funds -- Global Biotechnology, Global Financial Services and Global
 Technology -- that invest in three dynamic and growing industries.
     "Few investment managers have the ability to deliver global sector
 opportunities on a scale comparable to Deutsche Asset Management," said Ross
 Youngman, Managing Director and Head of Deutsche Asset Management's Mutual
 Funds unit. "As part of one of the largest financial services companies in the
 world, we have the worldwide presence and power to analyze those industries
 and trends that we believe are reshaping the global economy and to package
 these opportunities for investors."
     The three funds build on the same investment management resources used by
 Deutsche Bank for almost 20 years to offer sector funds with similar
 objectives to European investors. The new funds' sub-advisor, DWS
 International Portfolio Management GmbH, is a direct, wholly owned subsidiary
 of Deutsche Bank's DWS Group, which is one of the largest mutual fund managers
 in Europe. Founded in 1956, the Frankfurt-based DWS Group manages assets of
 more than $100 billion as of year-end 2000 in more than 200 mutual funds for
 more than 3 million shareholders.
     Klaus Kaldemorgen, head of international equities for DWS Group, serves as
 a co-manager of each of the three new global sector funds. S&P/Micropal
 recently named Kaldemorgen, an 18-year veteran of DWS Group, as its "best
 international asset manager" for the second year in a row.
 
     The three new global sector funds are:
 
     -- Global Biotechnology Fund. The Fund will seek maximum total return by
        investing primarily in equity securities of companies of any size that
        engage in the research, development, provision or manufacturing of
        biotechnological products, services and processes. The average number
        of holdings for the Fund will be between 60 and 70 stocks in companies
        of all sizes. The Fund uses investment strategies similar to those of
        the DWS Biotech-Atkien Typ O Fund launched in August 1999.
 
     -- Global Financial Services Fund. The Fund will seek maximum total return
        by investing primarily in equity securities of companies in a wide
        range of financial services businesses, including banking, insurance,
        asset management and brokerage. In addition, it will invest in those
        software and technology companies that focus on developing and
        producing products for the financial industry. The Fund expects to
        invest in an average of 60 to 80 securities, primarily in large-cap
        stocks.  The Fund uses investment strategies similar to those of the
        DWS Finanzwerte Fund launched in November 1998.
 
     -- Global Technology Fund. The Fund will seek maximum total return by
        investing primarily in equity securities of technology companies with
        attractive long-term growth potential and the ability to increase
        market share and profits in a sustainable manner. It will invest in
        roughly 60 to 100 companies in both developed and emerging markets. The
        Fund uses investment strategies similar to those of the DWS
        Technologiefonds launched in October 1983.
 
     "Through our disciplined approach to sector investing, we believe these
 funds can play an integral role in a long-term investment strategy," said
 Youngman. "In particular, we believe our sector funds can provide investors
 with an excellent choice for diversifying their portfolios."
     Each of the new sector funds is available in either A, B or C shares for a
 minimum investment of $2,000. Investors can learn more about the funds by
 calling 1-800-730-1313 or by visiting http://www.deam-us.com.
     The funds also build on Deutsche Asset Management's long history of
 offering innovative, specialized funds. For example, Deutsche Asset Management
 offers the Flag Investors Communications Fund, which is the oldest, actively
 managed fund focusing on the communications industry. Deutsche Asset
 Management also pioneered the first stable value strategies available in a
 mutual fund vehicle for both the defined contribution and IRA markets.
     Deutsche Asset Management is one of the world's largest investment
 management organizations.  A member of the Deutsche Bank Group, DeAM has
 approximately $600 billion in assets under management globally and
 approximately $250 billion under management for clients in the Americas, as of
 year-end 2000.
     With more than 4,500 employees in 21 offices, Deutsche Asset Management's
 global team of world-class investment professionals is dedicated to serving
 clients around the clock and across the globe. More than 500 investment
 professionals strive to deliver outperformance and to develop new products to
 meet clients' investment needs. Deutsche Asset Management has major asset
 management businesses in the Americas, Europe and Asia.
     Investments in securities of foreign issuers present greater risks,
 including currency fluctuations and political and economic risks. Foreign
 securities markets generally exhibit greater price volatility and are less
 liquid than the US markets. The Funds are non-diversified and can take larger
 positions in fewer companies as well as invest a significant portion of their
 assets in a particular foreign country or geographic region, increasing their
 overall risk profile.
     The "Best International Asset Manager" designation is awarded to the
 individual who manages the fund ranked by S&P Fund Services as the
 top-performing fund in Germany for the two-year period ending 12/31/00. Only
 those international or European equity funds that had above-average investment
 performance in the years 1999 and 2000, as well as minimal losses from April
 2000 to December 2000, were eligible.
     For more complete information about the Funds, including fees and
 expenses, call your Deutsche Asset Management account representative or
 1-800-730-1313 to request a prospectus. Please read it carefully before you
 invest.
 
     ICC Distributors, Inc.
 
     Deutsche Asset Management is the marketing name in the US for the asset
 management activities of Deutsche Bank AG, Deutsche Fund Management, Inc.,
 Bankers Trust Company, Deutsche Banc Alex Brown Inc., Deutsche Asset
 Management, Inc., and Deutsche Asset Management Investment Services Limited.
 
           Not FDIC Insured     No Bank Guarantee      May Lose Value
 
 

SOURCE Deutsche Asset Management
    NEW YORK, April 2 /PRNewswire/ -- Deutsche Asset Management (DeAM) today
 announced the launch of three global sector funds designed to capitalize on
 evolving market trends and to underscore the company's commitment to bring
 innovative products to the market.
     By tapping into the extensive resources of the company's worldwide
 investment network, Deutsche Asset Management will offer US investors three
 new funds -- Global Biotechnology, Global Financial Services and Global
 Technology -- that invest in three dynamic and growing industries.
     "Few investment managers have the ability to deliver global sector
 opportunities on a scale comparable to Deutsche Asset Management," said Ross
 Youngman, Managing Director and Head of Deutsche Asset Management's Mutual
 Funds unit. "As part of one of the largest financial services companies in the
 world, we have the worldwide presence and power to analyze those industries
 and trends that we believe are reshaping the global economy and to package
 these opportunities for investors."
     The three funds build on the same investment management resources used by
 Deutsche Bank for almost 20 years to offer sector funds with similar
 objectives to European investors. The new funds' sub-advisor, DWS
 International Portfolio Management GmbH, is a direct, wholly owned subsidiary
 of Deutsche Bank's DWS Group, which is one of the largest mutual fund managers
 in Europe. Founded in 1956, the Frankfurt-based DWS Group manages assets of
 more than $100 billion as of year-end 2000 in more than 200 mutual funds for
 more than 3 million shareholders.
     Klaus Kaldemorgen, head of international equities for DWS Group, serves as
 a co-manager of each of the three new global sector funds. S&P/Micropal
 recently named Kaldemorgen, an 18-year veteran of DWS Group, as its "best
 international asset manager" for the second year in a row.
 
     The three new global sector funds are:
 
     -- Global Biotechnology Fund. The Fund will seek maximum total return by
        investing primarily in equity securities of companies of any size that
        engage in the research, development, provision or manufacturing of
        biotechnological products, services and processes. The average number
        of holdings for the Fund will be between 60 and 70 stocks in companies
        of all sizes. The Fund uses investment strategies similar to those of
        the DWS Biotech-Atkien Typ O Fund launched in August 1999.
 
     -- Global Financial Services Fund. The Fund will seek maximum total return
        by investing primarily in equity securities of companies in a wide
        range of financial services businesses, including banking, insurance,
        asset management and brokerage. In addition, it will invest in those
        software and technology companies that focus on developing and
        producing products for the financial industry. The Fund expects to
        invest in an average of 60 to 80 securities, primarily in large-cap
        stocks.  The Fund uses investment strategies similar to those of the
        DWS Finanzwerte Fund launched in November 1998.
 
     -- Global Technology Fund. The Fund will seek maximum total return by
        investing primarily in equity securities of technology companies with
        attractive long-term growth potential and the ability to increase
        market share and profits in a sustainable manner. It will invest in
        roughly 60 to 100 companies in both developed and emerging markets. The
        Fund uses investment strategies similar to those of the DWS
        Technologiefonds launched in October 1983.
 
     "Through our disciplined approach to sector investing, we believe these
 funds can play an integral role in a long-term investment strategy," said
 Youngman. "In particular, we believe our sector funds can provide investors
 with an excellent choice for diversifying their portfolios."
     Each of the new sector funds is available in either A, B or C shares for a
 minimum investment of $2,000. Investors can learn more about the funds by
 calling 1-800-730-1313 or by visiting http://www.deam-us.com.
     The funds also build on Deutsche Asset Management's long history of
 offering innovative, specialized funds. For example, Deutsche Asset Management
 offers the Flag Investors Communications Fund, which is the oldest, actively
 managed fund focusing on the communications industry. Deutsche Asset
 Management also pioneered the first stable value strategies available in a
 mutual fund vehicle for both the defined contribution and IRA markets.
     Deutsche Asset Management is one of the world's largest investment
 management organizations.  A member of the Deutsche Bank Group, DeAM has
 approximately $600 billion in assets under management globally and
 approximately $250 billion under management for clients in the Americas, as of
 year-end 2000.
     With more than 4,500 employees in 21 offices, Deutsche Asset Management's
 global team of world-class investment professionals is dedicated to serving
 clients around the clock and across the globe. More than 500 investment
 professionals strive to deliver outperformance and to develop new products to
 meet clients' investment needs. Deutsche Asset Management has major asset
 management businesses in the Americas, Europe and Asia.
     Investments in securities of foreign issuers present greater risks,
 including currency fluctuations and political and economic risks. Foreign
 securities markets generally exhibit greater price volatility and are less
 liquid than the US markets. The Funds are non-diversified and can take larger
 positions in fewer companies as well as invest a significant portion of their
 assets in a particular foreign country or geographic region, increasing their
 overall risk profile.
     The "Best International Asset Manager" designation is awarded to the
 individual who manages the fund ranked by S&P Fund Services as the
 top-performing fund in Germany for the two-year period ending 12/31/00. Only
 those international or European equity funds that had above-average investment
 performance in the years 1999 and 2000, as well as minimal losses from April
 2000 to December 2000, were eligible.
     For more complete information about the Funds, including fees and
 expenses, call your Deutsche Asset Management account representative or
 1-800-730-1313 to request a prospectus. Please read it carefully before you
 invest.
 
     ICC Distributors, Inc.
 
     Deutsche Asset Management is the marketing name in the US for the asset
 management activities of Deutsche Bank AG, Deutsche Fund Management, Inc.,
 Bankers Trust Company, Deutsche Banc Alex Brown Inc., Deutsche Asset
 Management, Inc., and Deutsche Asset Management Investment Services Limited.
 
           Not FDIC Insured     No Bank Guarantee      May Lose Value
 
 SOURCE  Deutsche Asset Management