Notification of changes to the underlying funds of various DWS Invest funds
21 Aug 2026
Notification of changes to the underlying funds of:
- R139 DWS Invest Global Agribusiness (the “Affected ILP sub-fund 1”)
- R221 DWS Invest Global Infrastructure (the “Affected ILP sub-fund 2”)
(together the “Affected ILP sub-funds”)
We have been notified by the management company of DWS Invest (the “Company”) of the following upcoming changes to the underlying funds of the Affected ILP sub-funds. These changes will take effect from 14 September 2026 (the “Effective Date”).
Harmonisation of the investment policy
As part of an initiative by the Company to apply a harmonised and standardised structure across their fund range, the investment policy of the underlying funds of the Affected ILP sub-funds has been reviewed and will be updated from the Effective Date. The updates primarily relate to the organisation and clarification of the investment policy provisions, including the presentation of the investment objective, the description of eligible assets, the main and ancillary investment framework, the use of derivatives, applicable limits, exclusions and related risks disclosures. The revisions are intended to improve clarity, transparency and overall consistency of the investment policy disclosures.
Revision of the investment policy and eligible assets
In addition to clarification changes to the investment objective and policy, the following amendments will be introduced to the underlying funds of the Affected ILP sub-funds;
• The use of derivatives and financial indices will be described more clearly, setting out the permitted instruments, purposes and conditions. The maximum of the underlying funds’ Net Asset Value (NAV) which may be invested in financial derivative instruments (excluding currency hedging instruments) that constitute long positions without corresponding coverage will be increased from 35% to 40%.
• The ancillary investment framework of the underlying funds will be expanded by introducing explicit quantitative limits for additional asset classes. For Affected ILP sub-fund 2 this also includes the revision of a certain existing limit.
• A consolidated provision will be introduced allowing investments of up to 10% of the net assets in certain securities and financial instruments that may involve higher complexity or risk, within defined limits.
• For the underlying fund of Affected ILP sub-fund 1, the maximum allocation to money market funds and UCITS/UCIs will be increased from 5% to 10%.
Amendments to the pre-contractual disclosure
From the Effective Date, the “Exposure to controversial sectors”, “Exposure to controversial weapons” and “Target Fund Assessment” sections of the pre-contractual disclosure for the underlying funds of the Affected ILP sub-funds will be amended to include additional exclusions.
The prospectus of the underlying funds of the Affected ILP sub-funds will be updated on or about 15 September 2026 and will be available once it has been published by the Company.
These changes will take effect automatically and policyholders do not need to take any action. We recommend that policyholders seek the advice of their usual financial adviser before making any investment decisions.
We have contacted impacted policyholders and their financial advisers with notification; primarily by e-shot, with letters sent by post where we do not hold a valid email, and to those who prefer to receive letters by post. A sample of the client communication can be found opposite.
Should you have any questions regarding these changes, please contact the Investment Marketing Team.
