<SEC-DOCUMENT>0000088053-15-001364.txt : 20151217
<SEC-HEADER>0000088053-15-001364.hdr.sgml : 20151217
<ACCEPTANCE-DATETIME>20151217145142
ACCESSION NUMBER:		0000088053-15-001364
CONFORMED SUBMISSION TYPE:	40-17G
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20151217
DATE AS OF CHANGE:		20151217
EFFECTIVENESS DATE:		20151217

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TAX-EXEMPT CALIFORNIA MONEY MARKET FUND
		CENTRAL INDEX KEY:			0000811911
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05076
		FILM NUMBER:		151293264

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TAX EXEMPT CALIFORNIA MONEY MARKET FUND
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INVESTORS CASH TRUST
		CENTRAL INDEX KEY:			0000863209
		IRS NUMBER:				363708479
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06103
		FILM NUMBER:		151293265

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK PLACE
		CITY:			NEW  YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK PLACE
		CITY:			NEW  YORK
		STATE:			NY
		ZIP:			10154-0004

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE VALUE SERIES, INC
		CENTRAL INDEX KEY:			0000825062
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05385
		FILM NUMBER:		151293269

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS VALUE SERIES, INC
		DATE OF NAME CHANGE:	20060207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER VALUE SERIES INC
		DATE OF NAME CHANGE:	20010625

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KEMPER VALUE SERIES INC
		DATE OF NAME CHANGE:	19990119

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE STRATEGIC INCOME TRUST
		CENTRAL INDEX KEY:			0000919708
		IRS NUMBER:				363942288
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-08382
		FILM NUMBER:		151293272

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS STRATEGIC INCOME TRUST
		DATE OF NAME CHANGE:	20060206

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER STRATEGIC INCOME TRUST
		DATE OF NAME CHANGE:	20010123

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KEMPER STRATEGIC INCOME TRUST
		DATE OF NAME CHANGE:	20001213

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE INTERNATIONAL FUND, INC.
		CENTRAL INDEX KEY:			0000088053
		IRS NUMBER:				132827803
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-00642
		FILM NUMBER:		151293283

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS INTERNATIONAL FUND, INC.
		DATE OF NAME CHANGE:	20060207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER INTERNATIONAL FUND INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER INTERNATIONAL INVESTMENTS LTD
		DATE OF NAME CHANGE:	19761203

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE EQUITY 500 INDEX PORTFOLIO
		CENTRAL INDEX KEY:			0000888568
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06698
		FILM NUMBER:		151293291

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS EQUITY 500 INDEX PORTFOLIO
		DATE OF NAME CHANGE:	20060207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER EQUITY 500 INDEX PORTFOLIO
		DATE OF NAME CHANGE:	20030519

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EQUITY 500 INDEX PORTFOLIO
		DATE OF NAME CHANGE:	19930315

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE TAX FREE TRUST
		CENTRAL INDEX KEY:			0000711600
		IRS NUMBER:				042782118
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0531

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-03632
		FILM NUMBER:		151293270

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW  YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW  YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS TAX FREE TRUST
		DATE OF NAME CHANGE:	20060207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER TAX FREE TRUST
		DATE OF NAME CHANGE:	19930909

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER TAX FREE TARGET FUND
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE STRATEGIC MUNICIPAL INCOME TRUST
		CENTRAL INDEX KEY:			0000846596
		IRS NUMBER:				363629052
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05767
		FILM NUMBER:		151293271

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS STRATEGIC MUNICIPAL INCOME TRUST
		DATE OF NAME CHANGE:	20060206

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER STRATEGIC MUNICIPAL INCOME TRUST
		DATE OF NAME CHANGE:	20010123

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KEMPER STRATEGIC MUNICIPAL INCOME TRUST
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE STATE TAX-FREE INCOME SERIES
		CENTRAL INDEX KEY:			0000714287
		IRS NUMBER:				363221104
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-03657
		FILM NUMBER:		151293273

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS STATE TAX-FREE INCOME SERIES
		DATE OF NAME CHANGE:	20060207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER STATE TAX-FREE INCOME SERIES
		DATE OF NAME CHANGE:	20010625

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KEMPER STATE TAX FREE INCOME SERIES
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE MULTI-MARKET INCOME TRUST
		CENTRAL INDEX KEY:			0000842905
		IRS NUMBER:				366894335
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05689
		FILM NUMBER:		151293278

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS MULTI-MARKET INCOME TRUST
		DATE OF NAME CHANGE:	20060206

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER MULTI MARKET INCOME TRUST
		DATE OF NAME CHANGE:	20010123

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KEMPER MULTI MARKET INCOME TRUST
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE HIGH INCOME OPPORTUNITIES FUND, INC.
		CENTRAL INDEX KEY:			0001375387
		IRS NUMBER:				205691014
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21949
		FILM NUMBER:		151293287

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS High Income Opportunities Fund, Inc.
		DATE OF NAME CHANGE:	20101108

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS Dreman Value Income Edge Fund, Inc.
		DATE OF NAME CHANGE:	20070221

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS Dreman Value IncomEdge Fund, Inc.
		DATE OF NAME CHANGE:	20060913

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE FUNDS TRUST
		CENTRAL INDEX KEY:			0000854905
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05896
		FILM NUMBER:		151293290

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DEUTSCHE TARGET FUND
		DATE OF NAME CHANGE:	20140811

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS TARGET FUND
		DATE OF NAME CHANGE:	20060207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER TARGET FUND
		DATE OF NAME CHANGE:	20020220

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DWS MONEY MARKET TRUST
		CENTRAL INDEX KEY:			0000703642
		IRS NUMBER:				133120601
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0531

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-03495
		FILM NUMBER:		151293266

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DEUTSCHE MONEY MARKET TRUST
		DATE OF NAME CHANGE:	20140811

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS MONEY MARKET TRUST
		DATE OF NAME CHANGE:	20060207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER MONEY MARKET TRUST
		DATE OF NAME CHANGE:	20000531

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE SECURITIES TRUST
		CENTRAL INDEX KEY:			0000088048
		IRS NUMBER:				132661231
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-02021
		FILM NUMBER:		151293274

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS SECURITIES TRUST
		DATE OF NAME CHANGE:	20060207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER SECURITIES TRUST
		DATE OF NAME CHANGE:	19950908

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER DEVELOPMENT FUND
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE INVESTMENTS VIT FUNDS
		CENTRAL INDEX KEY:			0001006373
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07507
		FILM NUMBER:		151293281

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS INVESTMENTS VIT FUNDS
		DATE OF NAME CHANGE:	20060207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER INVESTMENTS VIT FUNDS
		DATE OF NAME CHANGE:	20030519

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DEUTSCHE ASSET MANAGEMENT VIT FUNDS
		DATE OF NAME CHANGE:	20010402

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE HIGH INCOME TRUST
		CENTRAL INDEX KEY:			0000830160
		IRS NUMBER:				363591630
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05482
		FILM NUMBER:		151293286

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS HIGH INCOME TRUST
		DATE OF NAME CHANGE:	20060206

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER HIGH INCOME TRUST
		DATE OF NAME CHANGE:	20010123

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KEMPER HIGH INCOME TRUST
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE PORTFOLIO TRUST
		CENTRAL INDEX KEY:			0000088063
		IRS NUMBER:				046013018
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-00042
		FILM NUMBER:		151293275

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS PORTFOLIO TRUST
		DATE OF NAME CHANGE:	20060207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER PORTFOLIO TRUST/
		DATE OF NAME CHANGE:	19930305

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER INCOME FUND
		DATE OF NAME CHANGE:	19921109

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE INSTITUTIONAL FUNDS
		CENTRAL INDEX KEY:			0000862157
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06071
		FILM NUMBER:		151293284

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS INSTITUTIONAL FUNDS
		DATE OF NAME CHANGE:	20060206

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER INSTITUTIONAL FUNDS
		DATE OF NAME CHANGE:	20030519

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BT INSTITUTIONAL FUNDS
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CASH MANAGEMENT PORTFOLIO
		CENTRAL INDEX KEY:			0000862064
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06073
		FILM NUMBER:		151293294

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER CASH MANAGEMENT PORTFOLIO
		DATE OF NAME CHANGE:	20030519

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CASH MANAGEMENT PORTFOLIO
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE GLOBAL/INTERNATIONAL FUND, INC.
		CENTRAL INDEX KEY:			0000793597
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04670
		FILM NUMBER:		151293288

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS GLOBAL/INTERNATIONAL FUND, INC.
		DATE OF NAME CHANGE:	20060207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GLOBAL/INTERNATIONAL FUND INC
		DATE OF NAME CHANGE:	19980605

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER GLOBAL FUND INC
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE ASSET ALLOCATION TRUST
		CENTRAL INDEX KEY:			0000926425
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-08606
		FILM NUMBER:		151293292

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DEUTSCHE TARGET DATE SERIES
		DATE OF NAME CHANGE:	20140811

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS TARGET DATE SERIES
		DATE OF NAME CHANGE:	20071101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS ALLOCATION SERIES
		DATE OF NAME CHANGE:	20060207

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CASH ACCOUNT TRUST
		CENTRAL INDEX KEY:			0000858372
		IRS NUMBER:				371259201
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05970
		FILM NUMBER:		151293263

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE INVESTMENT TRUST
		CENTRAL INDEX KEY:			0000088064
		IRS NUMBER:				042212654
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-00043
		FILM NUMBER:		151293282

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS INVESTMENT TRUST
		DATE OF NAME CHANGE:	20060207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INVESTMENT TRUST
		DATE OF NAME CHANGE:	19980529

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER INVESTMENT TRUST
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE VARIABLE SERIES I
		CENTRAL INDEX KEY:			0000764797
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04257
		FILM NUMBER:		151293268

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS VARIABLE SERIES I
		DATE OF NAME CHANGE:	20060207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER VARIABLE SERIES I
		DATE OF NAME CHANGE:	20010501

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER VARIABLE LIFE INVESTMENT FUND/MA/
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE MARKET TRUST
		CENTRAL INDEX KEY:			0000095603
		IRS NUMBER:				366103490
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-01236
		FILM NUMBER:		151293280

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS MARKET TRUST
		DATE OF NAME CHANGE:	20110203

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS BALANCED FUND
		DATE OF NAME CHANGE:	20060207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER TOTAL RETURN FUND
		DATE OF NAME CHANGE:	20010614

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE VARIABLE SERIES II
		CENTRAL INDEX KEY:			0000810573
		IRS NUMBER:				810105002
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05002
		FILM NUMBER:		151293267

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS VARIABLE SERIES II
		DATE OF NAME CHANGE:	20060303

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER VARIABLE SERIES II
		DATE OF NAME CHANGE:	20010501

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KEMPER VARIABLE SERIES /MA/
		DATE OF NAME CHANGE:	20000225

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE MUNICIPAL INCOME TRUST
		CENTRAL INDEX KEY:			0000839533
		IRS NUMBER:				363605060
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05655
		FILM NUMBER:		151293277

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS MUNICIPAL INCOME TRUST
		DATE OF NAME CHANGE:	20060206

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER MUNICIPAL INCOME TRUST
		DATE OF NAME CHANGE:	20010123

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KEMPER MUNICIPAL INCOME TRUST
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CASH RESERVE FUND INC
		CENTRAL INDEX KEY:			0000353447
		IRS NUMBER:				621223991
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-03196
		FILM NUMBER:		151293293

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DEUTSCHE BANC ALEX BROWN CASH RESERVE FUND INC
		DATE OF NAME CHANGE:	19990806

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BT ALEX BROWN CASH RESERVE FUND INC
		DATE OF NAME CHANGE:	19970827

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BROWN ALEX CASH RESERVE FUND INC
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE MUNICIPAL TRUST
		CENTRAL INDEX KEY:			0000203142
		IRS NUMBER:				046396607
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0531

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-02671
		FILM NUMBER:		151293276

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS MUNICIPAL TRUST
		DATE OF NAME CHANGE:	20060207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER MUNICIPAL TRUST
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER MANAGED MUNICIPAL BONDS
		DATE OF NAME CHANGE:	19880302

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE MONEY FUNDS
		CENTRAL INDEX KEY:			0000055189
		IRS NUMBER:				362809723
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-02527
		FILM NUMBER:		151293279

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS MONEY FUNDS
		DATE OF NAME CHANGE:	20060207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER MONEY FUNDS
		DATE OF NAME CHANGE:	20020410

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ZURICH MONEY FUNDS
		DATE OF NAME CHANGE:	19970708

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE INCOME TRUST
		CENTRAL INDEX KEY:			0000747677
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04049
		FILM NUMBER:		151293285

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS INCOME TRUST
		DATE OF NAME CHANGE:	20060207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER INCOME TRUST
		DATE OF NAME CHANGE:	20000616

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEUTSCHE GLOBAL HIGH INCOME FUND, INC.
		CENTRAL INDEX KEY:			0000887590
		IRS NUMBER:				133675923
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06671
		FILM NUMBER:		151293289

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS GLOBAL HIGH INCOME FUND, INC.
		DATE OF NAME CHANGE:	20120329

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DWS GLOBAL HIGH INCOME FUND
		DATE OF NAME CHANGE:	20060207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER GLOBAL HIGH INCOME FUND /MA/
		DATE OF NAME CHANGE:	19980618
</SEC-HEADER>
<DOCUMENT>
<TYPE>40-17G
<SEQUENCE>1
<FILENAME>r40-17g_121715mega.htm
<DESCRIPTION>40-17G FILING - FIDELITY BLANKET BONDS - MULTIPLE REGISTRANTS
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>



<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;<IMG SRC="image_022.gif" ALT="" STYLE="width: 163px; height: 32px"></P>

<P STYLE="margin: 0; text-align: right">&nbsp;<img src="image_019.gif" alt="" style="width: 64px; height: 65px"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">December 17, 2015</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Securities and Exchange Commission</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Office of Filings and Information Services</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">450 Fifth Street, NW</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Washington, D.C. 20549</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Re:&#9;<B><U>Investment Company Blanket Bond</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Cash Account Trust &ndash; File No. 811-05970</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Cash Management Portfolio &ndash; File No. 811-06073</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Cash Reserve Fund, Inc. &ndash; File No. 811-03196</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche Asset Allocation Trust - File No. 811-08606</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 35.45pt">Deutsche Equity 500 Index Portfolio &ndash;
File No. 811-06698</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche Funds Trust &ndash; File No. 811-05896</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche Global High Income Fund, Inc. &ndash;
File No. 811-06671</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche Global/International Fund, Inc. &ndash;
File No. 811-04670</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche High Income Opportunities Fund, Inc.
&ndash; File No. 811-21949</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche High Income Trust &ndash; File No.
811-05482</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche Income Trust &ndash; File No<B>. </B>811-04049</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche Institutional Funds &ndash; File No.
811-06071</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche International Fund, Inc. &ndash; File
No. 811-00642</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche Investment Trust &ndash; File No. 811-00043</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche Investments VIT Funds &ndash; File
No. 811-07507</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche Market Trust &ndash; File No. 811-01236</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche Money Funds &ndash; File No. 811-02527</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche Multi-Market Income Trust &ndash; File
No. 811-05689</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche Municipal Income Trust<I> </I>&ndash;
File No. 811-05655</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche Municipal Trust &ndash; File No. 811-02671</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche Portfolio Trust &ndash; File No. 811-00042</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche Securities Trust &ndash; File No. 811-02021</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche State Tax-Free Income Series &ndash;
File No. 811-03657</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche Strategic Income Trust &ndash; File
No. 811-08382</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche Strategic Municipal Income Trust<I>
</I>&ndash; File No. 811-05767</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche Tax Free Trust &ndash; File No. 811-03632</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche Value Series, Inc. &ndash; File No.
811-05385</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche Variable Series I &ndash; File No.
811-04257</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Deutsche Variable Series II &ndash; File No.
811-05002</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">DWS Money Market Trust &ndash; File No. 811-03495</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 35.45pt">Investors Cash Trust &ndash; File No. 811-06103</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Tax-Exempt California Money Market Fund &ndash;
File No. 811-05706</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Dear Sir/Madam:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to Rule 17-g-1(g) of the Investment
Company Act of 1940, as amended, enclosed are the following documents to be filed with the Securities and Exchange Commission:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<OL START="1" STYLE="margin-top: 0in; list-style-type: decimal">

<LI STYLE="text-align: justify; margin: 0; font-size: 11pt">A copy of Investment Company Blanket Bond No. 87146115B along with
Riders No. 1 thru 11 (the &ldquo;Bond&rdquo;) in the amount of $60,000,000 primary coverage issued by ICI Mutual Insurance Company
(&ldquo;ICI&rdquo;), covering the above registered investment companies and series thereof for the period from September 30, 2015
to September 30, 2016;</LI>

</OL>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<OL START="2" STYLE="margin-top: 0in; list-style-type: decimal">

<LI STYLE="margin: 0; font-size: 11pt">Certified resolutions approved by a majority of the Board of Directors/Trustees who are
not &ldquo;interested persons&rdquo; of the registered investment companies, approving the amount, type, form, and coverage of
the Bond and the portion of the premium to be paid by such companies, as required by Rule 17g-1(g);</LI>

</OL>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<OL START="3" STYLE="margin-top: 0in; list-style-type: decimal">

<LI STYLE="text-align: justify; margin: 0 0 12pt; font-size: 11pt">A copy of the Funds&rsquo; Insurance Allocation Agreement among
the Funds setting forth the criteria by which the premiums for the Bond shall be allocated and the amounts payable under the Bond
shall be allocated among the covered parties; and</LI>

<LI STYLE="text-align: justify; margin: 0 0 12pt; font-size: 11pt">A matrix entitled &ldquo;Schedule B&rdquo; showing: (i) the
premiums that each investment company and its series have paid for coverage under the bonds for the period from September 30, 2015
to September 30, 2016; and (ii) the amount of the single insured bond which the investment company would have provided and maintained
had it not been named as an insured under a joint insured bond.</LI>

</OL>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">If you have any questions or need further information,
please call me at 617-295-2572.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">Kind regards,</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">/s/John Millette</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">John Millette</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">Vice President and Secretary</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0"></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.2pt"><B>ICI
MUTUAL INSURANCE COMPANY,</B></FONT></P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.2pt"><B>a Risk
Retention Group</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">1401 H
St. NW</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">Washington,
DC 20005</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: center">INVESTMENT COMPANY
BLANKET BOND</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.2pt; text-align: center">ICI MUTUAL INSURANCE
COMPANY,</P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.2pt; text-align: center">a Risk Retention
Group</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">1401
H St. NW</FONT></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">Washington,
DC 20005</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: center">DECLARATIONS</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTICE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This policy is issued by your risk retention
group. Your risk retention group may not be subject to all of the insurance laws and regulations of your state. State insurance
insolvency guaranty funds are not available for your risk retention group.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; border-top: Black 0.5pt solid"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%"><B>ITEM 1.</B> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Named Insured Company<BR>
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Deutsche Investment
    Trust</B></TD>
    <TD STYLE="width: 50%">Bond Number:<BR>
    <B>87146115B</B></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">Principal Office:</TD>
    <TD STYLE="width: 50%">Mailing Address:</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 Park Avenue<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York, NY 10016</TD>
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c/o
Deutsche Asset Management<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Beacon Street<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boston, MA 02108</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<table cellspacing="0" cellpadding="0" style="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 4%; padding-right: -5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-size: 11pt; letter-spacing: -0.1pt"><b>Item 2.</b></font></td>
    <TD STYLE="width: 36%; padding-right: -5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt">Bond
    Period: from 12:01 a.m. on</FONT> <U>September 30, 2015</U>, to 12:01 a.m. on <U>September 30,</U> <U>2016</U>, or the earlier
    effective date of the termination of this Bond, standard time at the Principal Address as to each of said dates.</td>
    </tr>
</table>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 3pt 0.25in; letter-spacing: -0.1pt; text-align: justify"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 3pt 0.25in; letter-spacing: -0.1pt; text-align: justify"></P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10.5pt; font-weight: bold; text-align: justify"><font style="font-size: 10.5pt"><b>Item 3.</b></font></td>
    <td colspan="4" style="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt; text-align: justify"><font style="font-size: 11pt">Limit of Liability&mdash;</font></td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt; text-align: justify">&nbsp;</td>
    <td colspan="4" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 11pt; text-align: justify"><font style="font-size: 11pt">Subject to Sections 9, 10 and 12 hereof:</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <td style="width: 21%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <td style="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <td style="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>LIMIT OF</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>LIABILITY</b></P></td>
    <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>DEDUCTIBLE</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>AMOUNT</b></P></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Insuring Agreement A-</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">FIDELITY</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 10pt">$60,000,000</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 10pt">N/A</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Insuring Agreement B-</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">AUDIT EXPENSE</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 10pt">$50,000</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 10pt">$10,000</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Insuring Agreement C-</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">ON PREMISES</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 10pt">$60,000,000</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 10pt">$100,000</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Insuring Agreement D-</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">IN TRANSIT</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 10pt">$60,000,000</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 10pt">$100,000</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Insuring Agreement E-</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">FORGERY OR ALTERATION</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 10pt">$60,000,000</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 10pt">$100,000</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Insuring Agreement F-</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">SECURITIES</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 10pt">$60,000,000</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 10pt">$100,000</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Insuring Agreement G-</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">COUNTERFEIT CURRENCY</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 10pt">$60,000,000</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 10pt">$100,000</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Insuring Agreement H-</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">UNCOLLECTIBLE ITEMS OF DEPOSIT</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 10pt">$350,000</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 10pt">$35,000</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Insuring Agreement I-</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">PHONE/ELECTRONIC TRANSACTIONS</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 10pt">$60,000,000</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 10pt">$100,000</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-top: 3pt; padding-bottom: 3pt">&nbsp;</td>
    <td colspan="4" style="padding-top: 3pt; padding-bottom: 3pt"><font style="font-size: 10pt">If &ldquo;Not Covered&rdquo; is inserted opposite any Insuring Agreement above, such Insuring Agreement and any reference thereto shall be deemed to be deleted from this Bond.</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-top: 3pt; padding-bottom: 3pt">&nbsp;</td>
    <td colspan="4" style="padding-top: 3pt; padding-bottom: 3pt"><font style="font-size: 10pt">OPTIONAL INSURING AGREEMENTS ADDED BY RIDER:</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-top: 3pt; padding-bottom: 3pt">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt"><font style="font-size: 10pt">Insuring Agreement J-</font></td>
    <td style="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt"><font style="font-size: 10pt">COMPUTER SECURITY</font></td>
    <td style="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 10pt">$60,000,000</font></td>
    <td style="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 10pt">$100,000</font></td></tr>
</table>
<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 0.75pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 3pt 0.5in; text-align: justify; text-indent: -0.5in"><FONT STYLE="letter-spacing: -0.1pt"><B>Item</B>
<B>4.</B>&nbsp;Offices or Premises Covered--All the Insured's offices or other premises in existence at the time this Bond becomes
effective are covered under this Bond, except the offices or other premises excluded by Rider. Offices or other premises acquired
or established after the effective date of this Bond are covered subject to the terms of General Agreement A.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in; border-top: Black 0.5pt solid"><FONT STYLE="letter-spacing: -0.1pt"><B>Item
5.</B>&nbsp;The liability of ICI Mutual Insurance Company (the &quot;Underwriter&quot;) is subject to the terms of the following
Riders attached hereto:</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Riders:&#9;1-2-3-4-5-6-7-8-9-10-11</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; border-bottom: Black 2.25pt double"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">and of all Riders applicable to this Bond issued during the
Bond Period.<FONT STYLE="text-underline-style: double"><U> </U></FONT></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.1pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 9pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">By: <U>/S/
Matthew Link</U><BR>
Authorized<FONT STYLE="letter-spacing: -0.1pt"> Representative</FONT> </TD>
    <TD STYLE="width: 50%">By: <U>/S/ Joseph Costello</U><BR>
Authorized<FONT STYLE="letter-spacing: -0.1pt"> Representative</FONT> </TD></TR>
</TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>INVESTMENT COMPANY BLANKET BOND</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">NOTICE</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This policy is issued by your risk retention
group. Your risk retention group may not be subject to all of the insurance laws and regulations of your state. State insurance
insolvency guaranty funds are not available for your risk retention group.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">ICI
Mutual Insurance Company, a Risk Retention Group (the &ldquo;Underwriter&rdquo;), in consideration of an agreed premium, and in
reliance upon the Application and all other information furnished to the Underwriter by the Insured, and subject to and in accordance
with the Declarations, General Agreements, Provisions, Conditions and Limitations and other terms of this bond (including all riders
hereto) (&ldquo;Bond&rdquo;), to the extent of the Limit of Liability and subject to the Deductible Amount, agrees to indemnify
the Insured for the loss, as described in the Insuring Agreements, sustained by the Insured at any time but discovered during the
Bond Period.</FONT></P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: -0.1pt; text-align: center">INSURING
AGREEMENTS</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">A.&#9;FIDELITY</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">Loss caused
by any Dishonest or Fraudulent Act or Theft committed by an Employee anywhere, alone or in collusion with other persons (whether
or not Employees), during the time such Employee has the status of an Employee as defined herein, and even if such loss is not
discovered until after he or she ceases to be an Employee, EXCLUDING loss covered under Insuring Agreement B.</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">B.&#9;AUDIT EXPENSE</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">Expense
incurred by the Insured for that part of audits or examinations required by any governmental regulatory authority or Self Regulatory
Organization to be conducted by such authority or Organization or by an independent accountant or other person, by reason of the
discovery of loss sustained by the Insured and covered by this Bond.</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">C.&#9;ON PREMISES</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">Loss resulting
from Property that is (1) located or reasonably believed by the Insured to be located within the Insured&rsquo;s offices or premises,
and (2) the object of Theft, Dishonest or Fraudulent Act, or Mysterious Disappearance, EXCLUDING loss covered under Insuring Agreement
A.</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">D.&#9;IN TRANSIT</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">Loss resulting
from Property that is (1) in transit in the custody of any person authorized by an Insured to act as a messenger, except while
in the mail or with a carrier for hire (other than a Security Company), and (2) the object of Theft, Dishonest or Fraudulent Act,
or Mysterious Disappearance, EXCLUDING loss covered under Insuring Agreement A. Property is &ldquo;in transit&rdquo; beginning
immediately upon receipt of such Property by the transporting person and ending immediately upon delivery at the specified destination.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">E.</TD><TD>FORGERY OR ALTERATION</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">Loss caused
by the Forgery or Alteration of or on (1) any bills of exchange, checks, drafts, or other written orders or directions to pay certain
sums in money, acceptances, certificates of deposit, due</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">bills, money orders, or letters of credit; or (2) other written instructions,
requests or applications to the Insured, authorizing or acknowledging the transfer, payment, redemption, delivery or receipt of
Property, or giving notice of any bank account, which instructions or requests or applications purport to have been signed or endorsed
by (a) any customer of the Insured, or (b) any shareholder of or subscriber to shares issued by any Investment Company, or (c)
any financial or banking institution or stockbroker; or (3) withdrawal orders or receipts for the withdrawal of Property, or receipts
or certificates of deposit for Property and bearing the name of the Insured as issuer or of another Investment Company for which
the Insured acts as agent. This Insuring Agreement E does not cover loss caused by Forgery or Alteration of Securities or loss
covered under Insuring Agreement A.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">F.</TD><TD>SECURITIES</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">Loss resulting
from the Insured, in good faith, in the ordinary course of business, and in any capacity whatsoever, whether for its own account
or for the account of others, having acquired, accepted or received, or sold or delivered, or given any value, extended any credit
or assumed any liability on the faith of any Securities, where such loss results from the fact that such Securities (1) were Counterfeit,
or (2) were lost or stolen, or (3) contain a Forgery or Alteration, and notwithstanding whether or not the act of the Insured causing
such loss violated the constitution, by-laws, rules or regulations of any Self Regulatory Organization, whether or not the Insured
was a member thereof, EXCLUDING loss covered under Insuring Agreement A.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>G.&#9;</B></FONT><B>COUNTERFEIT
CURRENCY</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify">Loss caused by the Insured in good
faith having received or accepted (1) any money orders which prove to be Counterfeit or to contain an Alteration or (2) paper currencies
or coin of the United States of America or Canada which prove to be Counterfeit.<FONT STYLE="letter-spacing: -0.1pt"> This Insuring
Agreement G does not cover loss covered under Insuring Agreement A.</FONT></P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">H.&#9;UNCOLLECTIBLE ITEMS OF DEPOSIT</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">Loss resulting
from the payment of dividends, issuance of Fund shares or redemptions or exchanges permitted from an account with the Fund as a
consequence of&#9;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; letter-spacing: -0.1pt; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">(1)</TD><TD STYLE="text-align: justify">uncollectible Items of Deposit of a Fund&rsquo;s customer, shareholder or subscriber credited by
the Insured or its agent to such person&rsquo;s Fund account, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">any Item of Deposit processed through an automated clearing
house which is reversed by a Fund&rsquo;s customer, shareholder or subscriber and is deemed uncollectible by the Insured;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">PROVIDED,
that (a) Items of Deposit shall not be deemed uncollectible until the Insured&rsquo;s collection procedures have failed, (b) exchanges
of shares between Funds with exchange privileges shall be covered hereunder only if all such Funds are insured by the Underwriter
for uncollectible Items of Deposit, and (c) the Insured Fund shall have implemented and maintained a policy to hold Items of Deposit
for the minimum number of days stated in its Application (as amended from time to time) before paying any dividend or permitting
any withdrawal with respect to such Items of Deposit (other than exchanges between Funds). Regardless of the number of transactions
between Funds in an exchange program, the minimum number of days an Item of Deposit must be held shall begin from the date the
Item of Deposit was first credited to any Insured Fund.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">This Insuring
Agreement H does not cover loss covered under Insuring Agreement A.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify"></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">I.</TD><TD>PHONE/ELECTRONIC TRANSACTIONS</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">Loss caused
by a Phone/Electronic Transaction, where the request for such Phone/Electronic Transaction:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; letter-spacing: -0.1pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">(1)</TD><TD STYLE="text-align: justify">is transmitted to the Insured or its agents by voice over the telephone or by Electronic Transmission;
and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; letter-spacing: -0.1pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">(2)</TD><TD STYLE="text-align: justify">is made by an individual purporting to be a Fund shareholder or subscriber or an authorized agent
of a Fund shareholder or subscriber; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; letter-spacing: -0.1pt; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">(3)</TD><TD STYLE="text-align: justify">is unauthorized or fraudulent and is made with the manifest intent to deceive;</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">PROVIDED,
that the entity receiving such request generally maintains and follows during the Bond Period all Phone/Electronic Transaction
Security Procedures with respect to all Phone/Electronic Transactions; and</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: -0.1pt; text-align: justify; text-indent: 27pt">EXCLUDING
loss resulting from:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">the failure to pay for shares attempted to be purchased; or</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">any redemption of Investment Company shares which had been
improperly credited to a shareholder&rsquo;s account where such shareholder (a) did not cause, directly or indirectly, such shares
to be credited to such account, and (b) directly or indirectly received any proceeds or other benefit from such redemption; or</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">any redemption of shares issued by an Investment Company where
the proceeds of such redemption were requested to be paid or made payable to other than (a) the Shareholder of Record, or (b) any
other person or bank account designated to receive redemption proceeds (i) in the initial account application, or (ii) in writing
(not to include Electronic Transmission) accompanied by a signature guarantee; or</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(4)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">any redemption of shares issued by an Investment Company where
the proceeds of such redemption were requested to be sent to other than any address for such account which was designated (a) in
the initial account application, or (b) in writing (not to include Electronic Transmission), where such writing is received at
least one (1) day prior to such redemption request, or (c) by voice over the telephone or by Electronic Transmission at least fifteen
(15) days prior to such redemption; or</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(5)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">the intentional failure to adhere to one or more Phone/Electronic
Transaction Security Procedures; or</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(6)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">a Phone/Electronic Transaction request transmitted by</FONT>
electronic mail or transmitted by any method not subject to the Phone/Electronic Transaction Security Procedures; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; letter-spacing: -0.1pt; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">(7)</TD><TD STYLE="text-align: justify">the failure or circumvention of any physical or electronic protection device, including any firewall,
that imposes restrictions on the flow of electronic traffic in or out of any Computer System.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 24pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">This
Insuring Agreement I does not cover loss covered under Insuring Agreement A, &ldquo;Fidelity&rdquo; or Insuring Agreement J, &ldquo;Computer
Security&rdquo;. </FONT></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 24pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: -0.1pt; text-align: center">GENERAL
AGREEMENTS</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt">A.</TD><TD>ADDITIONAL OFFICES OR EMPLOYEES&mdash;CONSOLIDATION OR MERGER--NOTICE</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; letter-spacing: -0.1pt; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">1.</TD><TD STYLE="text-align: justify">Except as provided in paragraph 2 below, this Bond shall apply to any additional office(s) established
by the Insured during the Bond Period and to all Employees during the Bond Period, without the need to give notice thereof or pay
additional premiums to the Underwriter for the Bond Period.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">If during the Bond Period an Insured Investment Company shall
merge or consolidate with an institution in which such Insured is the surviving entity, or purchase substantially all the assets
or capital stock of another institution, or acquire or create a separate investment portfolio, and shall within sixty (60) days
notify the Underwriter thereof, then this Bond shall automatically apply to the Property and Employees resulting from such merger,
consolidation, acquisition or creation from the date thereof; provided, that the Underwriter may make such coverage contingent
upon the payment of an additional premium.</FONT></TD></TR></TABLE>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">B.&#9;WARRANTY</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">No statement
made by or on behalf of the Insured, whether contained in the Application or otherwise, shall be deemed to be an absolute warranty,
but only a warranty that such statement is true to the best of the knowledge of the person responsible for such statement.</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">C.&#9;COURT COSTS AND ATTORNEYS&rsquo; FEES</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">The
Underwriter will indemnify the Insured against court costs and reasonable attorneys&rsquo; fees incurred and paid by the Insured
in defense of any legal proceeding brought against the Insured seeking recovery for any loss which, if established against the
Insured, would constitute a loss covered under the terms of this Bond; provided, however, that with respect to Insuring Agreement
A this indemnity shall apply only in the event that</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; letter-spacing: -0.1pt; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">1.</TD><TD STYLE="text-align: justify">an Employee admits to having committed or is adjudicated to have committed a Dishonest or Fraudulent
Act or Theft which caused the loss; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">in the absence of such an admission or adjudication, an arbitrator
or arbitrators acceptable to the Insured and the Underwriter concludes, after a review of an agreed statement of facts, that an
Employee has committed a Dishonest or Fraudulent Act or Theft which caused the loss.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">The
Insured shall promptly give notice to the Underwriter of any such legal proceeding and upon request shall furnish the Underwriter
with copies of all pleadings and other papers therein. At the Underwriter's election the Insured shall permit the Underwriter to
conduct the defense of such legal proceeding in the Insured's name, through attorneys of the Underwriter's selection. In such event,
the Insured shall give all reasonable information and assistance which the Underwriter shall deem necessary to the proper defense
of such legal proceeding.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">If
the amount of the Insured&rsquo;s liability or alleged liability in any such legal proceeding is greater than the amount which
the Insured would be entitled to recover under this Bond (other than pursuant to this General Agreement C), or if a Deductible
Amount is applicable, or both, the indemnity liability of the Underwriter under this General Agreement C is limited to the proportion
of court costs and</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"></FONT></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">attorneys&rsquo; fees incurred and paid by the Insured or by the Underwriter that the amount which the Insured
would be entitled to recover under this Bond (other than pursuant to this General Agreement C) bears to the sum of such amount
plus the amount which the Insured is not entitled to recover. Such indemnity shall be in addition to the Limit of Liability for
the applicable Insuring Agreement. </FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; letter-spacing: -0.1pt; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>D.</B></TD><TD STYLE="text-align: justify"><B>INTERPRETATION</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 24pt 27pt; text-align: justify">This Bond shall be interpreted
with due regard to the purpose of fidelity bonding under Rule 17g-1 of the Investment Company Act of 1940 (i.e., to protect innocent
third parties from harm) and to the structure of the investment management industry (in which a loss of Property resulting from
a cause described in any Insuring Agreement ordinarily gives rise to a potential legal liability on the part of the Insured), such
that the term &ldquo;loss&rdquo; as used herein shall include an Insured&rsquo;s legal liability for direct compensatory damages
resulting directly from a misappropriation, or measurable diminution in value, of Property.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>THIS BOND, INCLUDING THE FOREGOING INSURING
AGREEMENTS</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AND GENERAL AGREEMENTS, IS SUBJECT TO THE
FOLLOWING</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>PROVISIONS,
CONDITIONS AND LIMITATIONS:</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>SECTION
1. DEFINITIONS</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="letter-spacing: -0.1pt">The
following terms used in this Bond shall have the meanings stated in this Section:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><B>A.</B></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>&ldquo;Alteration&rdquo;</B> means the
marking, changing or altering in a material way of the terms, meaning or legal effect of a document with the intent to deceive.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>B.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Application&rdquo;</B> means the Insured&rsquo;s
application (and any attachments and materials submitted in connection therewith) furnished to the Underwriter for this Bond.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>C.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Computer System&rdquo;</B> means (1) computers with
related peripheral components, including storage components, (2) systems and applications software, (3) terminal devices, (4) related
communications networks or customer communication systems, and (5) related electronic funds transfer systems; by which data or
monies are electronically collected, transmitted, processed, stored or retrieved.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>D.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Counterfeit&rdquo;</B> means, with respect to any
item, one which is false but is intended to deceive and to be taken for the original authentic item.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>E.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Deductible Amount&rdquo;</B> means, with respect
to any Insuring Agreement, the amount set forth under the heading &ldquo;Deductible Amount&rdquo; in Item 3 of the Declarations
or in any Rider for such Insuring Agreement, applicable to each Single Loss covered by such Insuring Agreement.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>F.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Depository&rdquo;</B> means any &ldquo;securities
depository&rdquo; (other than any foreign securities depository) in which an Investment Company may deposit its Securities in accordance
with Rule 17f-4 under the Investment Company Act of 1940.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>G.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Dishonest
or Fraudulent Act&rdquo;</B> means any dishonest or fraudulent act, including &ldquo;larceny and embezzlement&rdquo; as defined
in Section 37 of the Investment Company Act of 1940, committed with the conscious manifest intent (1) to cause the Insured to
sustain a loss and (2) to obtain financial benefit for the perpetrator or any other person (other than salaries, commissions,
fees, bonuses, awards, profit</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top"><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">sharing,
pensions or other employee benefits). A Dishonest or Fraudulent Act does not mean or include a reckless act, a negligent act,
or a grossly negligent act.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>H.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Electronic Transmission&rdquo;</B> means any transmission
effected by electronic means, including but not limited to a transmission effected by telephone tones, Telefacsimile, wireless
device, or over the Internet.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="letter-spacing: -0.1pt"><B>I.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Employee&rdquo;</B> means:</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">each officer, director, trustee, partner or employee of the
Insured, and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">each officer, director, trustee, partner or employee of any
predecessor of the Insured whose principal assets are acquired by the Insured by consolidation or merger with, or purchase of assets
or capital stock of, such predecessor, and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">each attorney performing legal services for the Insured and
each employee of such attorney or of the law firm of such attorney while performing services for the Insured, and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; letter-spacing: -0.1pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">(4)</TD><TD STYLE="text-align: justify">each student who is an authorized intern of the Insured, while in any of the Insured&rsquo;s offices,
and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(5)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">each officer, director, trustee, partner or employee of</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">an investment adviser,</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">an underwriter (distributor),</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">a transfer agent or shareholder accounting recordkeeper, or</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; letter-spacing: -0.1pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 45pt"></TD><TD STYLE="width: 18pt">(d)</TD><TD STYLE="text-align: justify">an administrator authorized by written agreement to keep financial and/or other required records,</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 45pt; letter-spacing: -0.1pt; text-align: justify">for an Investment
Company named as an Insured, BUT ONLY while (i) such officer, partner or employee is performing acts coming within the scope of
the usual duties of an officer or employee of an Insured, or (ii) such officer, director, trustee, partner or employee is acting
as a member of any committee duly elected or appointed to examine or audit or have custody of or access to the Property of the
Insured, or (iii) such director or trustee (or anyone acting in a similar capacity) is acting outside the scope of the usual duties
of a director or trustee;PROVIDED, that the term &ldquo;Employee&rdquo; shall not include any officer, director, trustee, partner
or employee of a transfer agent, shareholder accounting recordkeeper or administrator (x) which is not an &ldquo;affiliated person&rdquo;
(as defined in Section 2(a) of the Investment Company Act of 1940) of an Investment Company named as Insured or of the adviser
or underwriter of such Investment Company, or (y) which is a &ldquo;Bank&rdquo; (as defined in Section 2(a) of the Investment Company
Act of 1940), and</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(6)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">each individual assigned, by contract or by any agency furnishing
temporary personnel, in either case on a contingent or part-time basis, to perform the usual duties of an employee in any office
of the Insured, and </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(7)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">each individual assigned to perform the usual duties of an
employee or officer of any entity authorized by written agreement with the Insured to perform services as electronic data processor
of checks or other accounting records of the Insured, but excluding a processor which acts as transfer agent or in any other agency
capacity for the Insured in issuing checks, drafts or securities, unless included under subsection (5) hereof, and </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">(8)</TD><TD>each officer, partner or employee of</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 45pt"></TD><TD STYLE="width: 18pt">(a)</TD><TD>any Depository or Exchange,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 45pt"></TD><TD STYLE="width: 18pt">(b)</TD><TD>any nominee in whose name is registered any Security included in the systems for the central handling of securities established
and maintained by any Depository, and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 45pt"></TD><TD STYLE="width: 18pt">(c)</TD><TD>any recognized service company which provides clerks or other personnel to any Depository or Exchange on a contract basis,</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 45pt">while such officer, partner or employee is performing
services for any Depository in the operation of systems for the central handling of securities, and</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; letter-spacing: -0.1pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">(9)</TD><TD STYLE="text-align: justify">in the case of an Insured which is an &ldquo;employee benefit plan&rdquo; (as defined in Section
3 of the Employee Retirement Income Security Act of 1974 (&ldquo;ERISA&rdquo;)) for officers, directors or employees of another
Insured (&ldquo;In-House Plan&rdquo;), any &ldquo;fiduciary&rdquo; or other &ldquo;plan official&rdquo; (within the meaning of
Section 412 of ERISA) of such In-House Plan, provided that such fiduciary or other plan official is a director, partner, officer,
trustee or employee of an Insured (other than an In-House Plan).</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 27pt; letter-spacing: -0.1pt; text-align: justify">Each employer
of temporary personnel and each entity referred to in subsections (6) and (7) and their respective partners, officers and employees
shall collectively be deemed to be one person for all the purposes of this Bond.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">Brokers,
agents, independent contractors, or representatives of the same general character shall not be considered Employees, except as
provided in subsections (3), (6), and (7).</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>J.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Exchange&rdquo;</B> means any national securities
exchange registered under the Securities Exchange Act of 1934.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>K.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Forgery&rdquo;</B> means the physical signing on
a document of the name of another person (whether real or fictitious) with the intent to deceive. A Forgery may be by means of
mechanically reproduced facsimile signatures as well as handwritten signatures. Forgery does not include the signing of an individual&rsquo;s
own name, regardless of such individual&rsquo;s authority, capacity or purpose.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>L.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Items of Deposit&rdquo;</B> means one or more checks
or drafts.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>M.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Investment Company&rdquo;</B> or <B>&ldquo;Fund&rdquo;</B>
means an investment company registered under the Investment Company Act of 1940. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>N.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Limit of Liability&rdquo;</B> means, with respect
to any Insuring Agreement, the limit of liability of the Underwriter for any Single Loss covered by such Insuring Agreement as
set forth under the heading &ldquo;Limit of Liability&rdquo; in Item 3 of the Declarations or in any Rider for such Insuring Agreement.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>O.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Mysterious Disappearance&rdquo;</B> means any disappearance
of Property which, after a reasonable investigation has been conducted, cannot be explained.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>P.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Non-Fund&rdquo;</B> means any corporation, business
trust, partnership, trust or other entity which is not an Investment Company.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>Q.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Phone/Electronic Transaction Security Procedures&rdquo;</B>
means security procedures for Phone/<BR>
Electronic Transactions as provided in writing to the Underwriter.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>R.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Phone/Electronic Transaction&rdquo;</B> means any
(1) redemption of shares issued by an Investment Company, (2) election concerning dividend options available to Fund shareholders,
(3) exchange of shares in a registered account of one Fund into shares in an identically registered account of another Fund in
the same complex pursuant to exchange privileges of the two Funds, or (4) purchase of shares issued by an Investment Company, which
redemption, election, exchange or purchase is requested by voice over the telephone or through an Electronic Transmission.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>S.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Property&rdquo;</B> means the following tangible
items: money, postage and revenue stamps, precious metals, Securities, bills of exchange, acceptances, checks, drafts, or other
written orders or directions to pay sums certain in money, certificates of deposit, due bills, money orders, letters of credit,
financial futures contracts, conditional sales contracts, abstracts of title, insurance policies, deeds, mortgages, and assignments
of any of the foregoing, and other valuable papers, including books of account and other records used by the Insured in the conduct
of its business, and all other instruments similar to or in the nature of the foregoing (but excluding all data processing records),
(1) in which the Insured has a legally cognizable interest, (2) in which the Insured acquired or should have acquired such an interest
by reason of a predecessor&rsquo;s declared financial condition at the time of the Insured&rsquo;s consolidation or merger with,
or purchase of the principal assets of, such predecessor or (3) which are held by the Insured for any purpose or in any capacity.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>T.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Securities&rdquo;</B> means original negotiable
or non-negotiable agreements or instruments which represent an equitable or legal interest, ownership or debt (including stock
certificates, bonds, promissory notes, and assignments thereof), which are in the ordinary course of business and transferable
by physical delivery with appropriate endorsement or assignment. &ldquo;Securities&rdquo; does not include bills of exchange, acceptances,
certificates of deposit, checks, drafts, or other written orders or directions to pay sums certain in money, due bills, money orders,
or letters of credit.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>U.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Security Company&rdquo;</B> means an entity which
provides or purports to provide the transport of Property by secure means, including, without limitation, by use of armored vehicles
or guards.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>V.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Self Regulatory Organization&rdquo;</B> means any
association of investment advisers or securities dealers registered under the federal securities laws, or any Exchange.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>W.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Shareholder of Record&rdquo;</B> means the record
owner of shares issued by an Investment Company or, in the case of joint ownership of such shares, all record owners, as designated
(1) in the initial account application, or (2) in writing accompanied by a signature guarantee, or (3) pursuant to procedures as
set forth in the Application.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>X.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Single Loss&rdquo;</B> means:</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">all loss resulting from any one actual or attempted Theft
committed by one person, or</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">all loss caused by any one act (other than a Theft or a Dishonest
or Fraudulent Act) committed by one person, or</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">all loss caused by Dishonest or Fraudulent Acts committed
by one person, or </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(4)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">all expenses incurred with respect to any one audit or examination,
or</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; letter-spacing: -0.1pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">(5)</TD><TD STYLE="text-align: justify">all loss caused by any one occurrence or event other than those specified in subsections (1) through
(4) above.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in; letter-spacing: -0.1pt; text-align: justify">All acts
or omissions of one or more persons which directly or indirectly aid or, by failure to report or otherwise, permit the continuation
of an act referred to in subsections (1) through (3) above of any other person shall be deemed to be the acts of such other person
for purposes of this subsection.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.25in; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">All
acts or occurrences or events which have as a common nexus any fact, circumstance, situation, transaction or series of facts, circumstances,
situations, or transactions shall be deemed to be one act, one occurrence, or one event.</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>Y.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Telefacsimile&rdquo;</B> means a system of transmitting
and reproducing fixed graphic material (as, for example, printing) by means of signals transmitted over telephone lines or over
the Internet.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt"><B>Z.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&ldquo;Theft&rdquo;</B> means robbery, burglary or hold-up,
occurring with or without violence or the threat of violence.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>SECTION
2. EXCLUSIONS</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">THIS
BOND DOES NOT COVER:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">A.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Loss resulting from (1) riot or civil commotion outside the
United States of America and Canada, or (2) war, revolution, insurrection, action by armed forces, or usurped power, wherever occurring;
except if such loss occurs while the Property is in transit, is otherwise covered under Insuring Agreement D, and when such transit
was initiated, the Insured or any person initiating such transit on the Insured&rsquo;s behalf had no knowledge of such riot, civil
commotion, war, revolution, insurrection, action by armed forces, or usurped power.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt">B.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt">Loss in time of peace or war resulting from
nuclear fission or fusion or radioactivity, or biological or chemical agents or hazards, or fire, smoke, or explosion, or the effects
of any of the foregoing.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">C.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Loss resulting from any Dishonest or Fraudulent Act committed
by any person while acting in the capacity of a member of the Board of Directors or any equivalent body of the Insured or of any
other entity.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">D.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Loss resulting from any nonpayment or other default of any
loan or similar transaction made by the Insured or any of its partners, directors, officers or employees, whether or not authorized
and whether procured in good faith or through a Dishonest or Fraudulent Act, unless such loss is otherwise covered under Insuring
Agreement A, E or F.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">E.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Loss resulting from any violation by the Insured or by any
Employee of any law, or any rule or regulation pursuant thereto or adopted by a Self Regulatory Organization, regulating the issuance,
purchase or sale of securities, securities transactions upon security exchanges or over the counter markets, Investment Companies,
or investment advisers, unless such loss, in the absence of such law, rule or regulation, would be covered under Insuring Agreement
A, E or F.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">F.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Loss resulting from Property that is </FONT>the object of
Theft, Dishonest or Fraudulent Act, or Mysterious Disappearance <FONT STYLE="letter-spacing: -0.1pt">while in the custody of any
Security Company, unless such loss is covered under this Bond and is in excess of the amount recovered or received by the Insured
under (1) the Insured&rsquo;s contract with such Security Company, and (2) insurance or indemnity of any kind carried by such Security
Company for the benefit of, or otherwise available to, users of its service, in which case this Bond shall cover only such excess,
subject to the applicable Limit of Liability and Deductible Amount.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">G.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Potential income, including but not limited to interest and
dividends, not realized by the Insured because of a loss covered under this Bond, except when covered under Insuring Agreement
H.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">H.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Loss in the form of (1) damages of any type for which the
Insured is legally liable, except direct compensatory damages, or (2) taxes, fines, or penalties, including without limitation
two-thirds of treble damage awards pursuant to judgments under any statute or regulation.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">I.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Loss resulting from the surrender of Property away from an
office of the Insured as a result of a threat</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; letter-spacing: -0.1pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">(1)</TD><TD STYLE="text-align: justify">to do bodily harm to any person, except where the Property is in transit in the custody of any
person acting as messenger as a result of a threat to do bodily harm to such person, if the Insured had no knowledge of such threat
at the time such transit was initiated, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; letter-spacing: -0.1pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">(2)</TD><TD STYLE="text-align: justify">to do damage to the premises or Property of the Insured,</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; letter-spacing: -0.1pt; text-align: justify; text-indent: -9pt">unless
such loss is otherwise covered under Insuring Agreement A.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">J.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">All costs, fees and other expenses incurred by the Insured
in establishing the existence of or amount of loss covered under this Bond, except to the extent certain audit expenses are covered
under Insuring Agreement B.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">K.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Loss resulting from payments made to or withdrawals from any
account, involving funds erroneously credited to such account, unless such loss is otherwise covered under Insuring Agreement A.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">L.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Loss resulting from uncollectible Items of Deposit which are
drawn upon a financial institution outside the United States of America, its territories and possessions, or Canada. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">M.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Loss resulting from the Dishonest or Fraudulent Acts, Theft,
or other acts or omissions of an Employee primarily engaged in the sale of shares issued by an Investment Company to persons other
than (1) a person registered as a broker under the Securities Exchange Act of 1934 or (2) an &ldquo;accredited investor&rdquo;
as defined in Rule 501(a) of Regulation D under the Securities Act of 1933, which is not an individual.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">N.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Loss resulting from the use of credit, debit, charge, access,
convenience, identification, cash management or other cards, whether such cards were issued or purport to have been issued by the
Insured or by anyone else, unless such loss is otherwise covered under Insuring Agreement A.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">O.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Loss resulting from any purchase, redemption or exchange of
securities issued by an Investment Company or other Insured, or any other instruction, request, acknowledgement, notice or transaction
involving securities issued by an Investment Company or other Insured or the dividends in respect thereof, when any of the foregoing
is requested, authorized or directed or purported to be requested, authorized or directed by voice over the telephone or by Electronic
Transmission, unless such loss is otherwise covered under Insuring Agreement A or Insuring Agreement I.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">P.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Loss resulting from any Dishonest or Fraudulent Act or Theft
committed by an Employee as defined in Section 1.I(2), unless such loss (1) could not have been reasonably discovered by the due
diligence of the Insured at or prior to the time of acquisition by the Insured of the assets acquired from a predecessor, and (2)
arose out of a lawsuit or valid claim brought against the Insured by a person unaffiliated with the Insured or with any person
affiliated with the Insured.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">Q.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Loss resulting from the unauthorized entry of data into, or
the deletion or destruction of data in, or the change of data elements or programs within, any Computer System, unless such loss
is otherwise covered under Insuring Agreement A.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>SECTION
3. ASSIGNMENT OF RIGHTS</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">Upon payment
to the Insured hereunder for any loss, the Underwriter shall be subrogated to the extent of such payment to all of the Insured&rsquo;s
rights and claims in connection with such loss; provided, however, that the Underwriter shall not be subrogated to any such rights
or claims one named Insured under this Bond may have against another named Insured</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">under this Bond. At the request of the Underwriter,
the Insured shall execute all assignments or other documents and take such action as the Underwriter may deem necessary or desirable
to secure and perfect such rights and claims, including the execution of documents necessary to enable the Underwriter to bring
suit in the name of the Insured.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Assignment
of any rights or claims under this Bond shall not bind the Underwriter without the Underwriter&rsquo;s written consent.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>SECTION
4. LOSS</B></FONT>&mdash;<FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>NOTICE</B></FONT>&mdash;<FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>PROOF</B></FONT>&mdash;<FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>LEGAL
PROCEEDINGS</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">This Bond
is for the use and benefit only of the Insured and the Underwriter shall not be liable hereunder to anyone other than the Insured.
As soon as practicable and not more than sixty (60) days after discovery, the Insured shall give the Underwriter written notice
thereof and, as soon as practicable and within one year after such discovery, shall also furnish to the Underwriter affirmative
proof of loss with full particulars. The Underwriter may extend the sixty day notice period or the one year proof of loss period
if the Insured requests an extension and shows good cause therefor.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">See
also General Agreement C (Court Costs and Attorneys' Fees).</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">The
Underwriter shall not be liable hereunder for loss of Securities unless each of the Securities is identified in such proof of loss
by a certificate or bond number or by such identification means as the Underwriter may require. The Underwriter shall have a reasonable
period after receipt of a proper affirmative proof of loss within which to investigate the claim, but where the Property is Securities
and the loss is clear and undisputed, settlement shall be made within forty-eight (48) hours even if the loss involves Securities
of which duplicates may be obtained. </FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">The
Insured shall not bring legal proceedings against the Underwriter to recover any loss hereunder prior to sixty (60) days after
filing such proof of loss or subsequent to twenty-four (24) months after the discovery of such loss or, in the case of a legal
proceeding to recover hereunder on account of any judgment against the Insured in or settlement of any suit mentioned in General
Agreement C or to recover court costs or attorneys&rsquo; fees paid in any such suit, twenty-four (24) months after the date of
the final judgment in or settlement of such suit. If any limitation in this Bond is prohibited by any applicable law, such limitation
shall be deemed to be amended to be equal to the minimum period of limitation permitted by such law.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Notice
hereunder shall be given to Manager, Professional Liability Claims, ICI Mutual Insurance Company, 1401 H St. NW, Washington, DC
20005.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>SECTION
5. DISCOVERY</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">For
all purposes under this Bond, a loss is discovered, and discovery of a loss occurs, when the Insured</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">becomes aware of facts, or</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">receives notice of an actual or potential claim by a third
party which alleges that the Insured is liable under circumstances,</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">which
would cause a reasonable person to assume that loss covered by this Bond has been or is likely to be incurred even though the exact
amount or details of loss may not be known.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"></FONT></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>SECTION
6. VALUATION OF PROPERTY</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 27pt; letter-spacing: -0.1pt; text-align: justify">For the
purpose of determining the amount of any loss hereunder, the value of any Property shall be the market value of such Property at
the close of business on the first business day before the discovery of such loss; except that</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">the value of any Property replaced by the Insured prior to
the payment of a claim therefor shall be the actual market value of such Property at the time of replacement, but not in excess
of the market value of such Property on the first business day before the discovery of the loss of such Property; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">the value of Securities which must be produced to exercise
subscription, conversion, redemption or deposit privileges shall be the market value of such privileges immediately preceding the
expiration thereof if the loss of such Securities is not discovered until after such expiration, but if there is no quoted or other
ascertainable market price for such Property or privileges referred to in clauses (1) and (2), their value shall be fixed by agreement
between the parties or by arbitration before an arbitrator or arbitrators acceptable to the parties; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">the value of books of accounts or other records used by the
Insured in the conduct of its business shall be limited to the actual cost of blank books, blank pages or other materials if the
books or records are reproduced plus the cost of labor for the transcription or copying of data furnished by the Insured for reproduction.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in"><FONT STYLE="letter-spacing: -0.1pt"><B>SECTION
7. LOST SECURITIES</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">The maximum
liability of the Underwriter hereunder for lost Securities shall be the payment for, or replacement of, such Securities having
an aggregate value not to exceed the applicable Limit of Liability. If the Underwriter shall make payment to the Insured for any
loss of Securities, the Insured shall assign to the Underwriter all of the Insured&rsquo;s right, title and interest in and to
such Securities. In lieu of such payment, the Underwriter may, at its option, replace such lost Securities, and in such case the
Insured shall cooperate to effect such replacement. To effect the replacement of lost Securities, the Underwriter may issue or
arrange for the issuance of a lost instrument bond. If the value of such Securities does not exceed the applicable Deductible Amount
(at the time of the discovery of the loss), the Insured will pay the usual premium charged for the lost instrument bond and will
indemnify the issuer of such bond against all loss and expense that it may sustain because of the issuance of such bond.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">If
the value of such Securities exceeds the applicable Deductible Amount (at the time of discovery of the loss), the Insured will
pay a proportion of the usual premium charged for the lost instrument bond, equal to the percentage that the applicable Deductible
Amount bears to the value of such Securities upon discovery of the loss, and will indemnify the issuer of such bond against all
loss and expense that is not recovered from the Underwriter under the terms and conditions of this Bond, subject to the applicable
Limit of Liability. </FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>SECTION
8. SALVAGE</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">If any
recovery is made, whether by the Insured or the Underwriter, on account of any loss within the applicable Limit of Liability hereunder,
the Underwriter shall be entitled to the full amount of such recovery to reimburse the Underwriter for all amounts paid hereunder
with respect to such loss. If any recovery is made, whether by the Insured or the Underwriter, on account of any loss in excess
of the applicable Limit of Liability hereunder plus the Deductible Amount applicable to such loss from any source other than suretyship,
insurance, reinsurance, security or indemnity taken by or for the benefit</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify"></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">of the Underwriter, the amount of such recovery, net
of the actual costs and expenses of recovery, shall be applied to reimburse the Insured in full for the portion of such loss in
excess of such Limit of Liability, and the remainder, if any, shall be paid first to reimburse the Underwriter for all amounts
paid hereunder with respect to such loss and then to the Insured to the extent of the portion of such loss within the Deductible
Amount. The Insured shall execute all documents which the Underwriter deems necessary or desirable to secure to the Underwriter
the rights provided for herein.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 67.5pt; text-indent: -67.5pt"><FONT STYLE="letter-spacing: -0.1pt"><B>SECTION
9.&#9;NON-REDUCTION AND NON-ACCUMULATION OF LIABILITY AND TOTAL LIABILITY</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">Prior to
its termination, this Bond shall continue in force up to the Limit of Liability for each Insuring Agreement for each Single Loss,
notwithstanding any previous loss (other than such Single Loss) for which the Underwriter may have paid or be liable to pay hereunder;
PROVIDED, however, that regardless of the number of years this Bond shall continue in force and the number of premiums which shall
be payable or paid, the liability of the Underwriter under this Bond with respect to any Single Loss shall be limited to the applicable
Limit of Liability irrespective of the total amount of such Single Loss and shall not be cumulative in amounts from year to year
or from period to period.</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 81pt; letter-spacing: -0.1pt; text-align: justify; text-indent: -81pt">SECTION
10. MAXIMUM LIABILITY OF UNDERWRITER; OTHER BONDS OR POLICIES</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">The maximum
liability of the Underwriter for any Single Loss covered by any Insuring Agreement under this Bond shall be the Limit of Liability
applicable to such Insuring Agreement, subject to the applicable Deductible Amount and the other provisions of this Bond. Recovery
for any Single Loss may not be made under more than one Insuring Agreement. If any Single Loss covered under this Bond is recoverable
or recovered in whole or in part because of an unexpired discovery period under any other bonds or policies issued by the Underwriter
to the Insured or to any predecessor in interest of the Insured, the maximum liability of the Underwriter shall be the greater
of either (1) the applicable Limit of Liability under this Bond, or (2) the maximum liability of the Underwriter under such other
bonds or policies.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>SECTION
11. </B></FONT> <FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>OTHER INSURANCE</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">Notwithstanding
anything to the contrary herein, if any loss covered by this Bond shall also be covered by other insurance or suretyship for the
benefit of the Insured, the Underwriter shall be liable hereunder only for the portion of such loss in excess of the amount recoverable
under such other insurance or suretyship, but not exceeding the applicable Limit of Liability of this Bond.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>SECTION
12. DEDUCTIBLE AMOUNT</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">The Underwriter
shall not be liable under any Insuring Agreement unless the amount of the loss covered thereunder, after deducting the net amount
of all reimbursement and/or recovery received by the Insured with respect to such loss (other than from any other bond, suretyship
or insurance policy or as an advance by the Underwriter hereunder) shall exceed the applicable Deductible Amount; in such case
the Underwriter shall be liable only for such excess, subject to the applicable Limit of Liability and the other terms of this
Bond.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">No
Deductible Amount shall apply to any loss covered under Insuring Agreement A sustained by any Investment Company named as an Insured.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>SECTION
13. TERMINATION</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">The Underwriter
may terminate this Bond as to any Insured or all Insureds only by written notice to such Insured or Insureds and, if this Bond
is terminated as to any Investment Company, to each such Investment Company terminated thereby and to the Securities and Exchange
Commission, Washington, D.C., in all cases not less than sixty (60) days prior to the effective date of termination specified in
such notice.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">The
Insured may terminate this Bond only by written notice to the Underwriter not less than sixty (60) days prior to the effective
date of the termination specified in such notice. Notwithstanding the foregoing, when the Insured terminates this Bond as to any
Investment Company, the effective date of termination shall be not less than sixty (60) days from the date the Underwriter provides
written notice of the termination to each such Investment Company terminated thereby and to the Securities and Exchange Commission,
Washington, D.C.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">This Bond
will terminate as to any Insured that is a Non-Fund immediately and without notice upon (1) the takeover of such Insured&rsquo;s
business by any State or Federal official or agency, or by any receiver or liquidator, or (2) the filing of a petition under any
State or Federal statute relative to bankruptcy or reorganization of the Insured, or assignment for the benefit of creditors of
the Insured.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Premiums
are earned until the effective date of termination. The Underwriter shall refund the unearned premium computed at short rates in
accordance with the Underwriter&rsquo;s standard short rate cancellation tables if this Bond is terminated by the Insured or pro
rata if this Bond is terminated by the Underwriter.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Upon
the detection by any Insured that an Employee has committed any Dishonest or Fraudulent Act(s) or Theft, the Insured shall immediately
remove such Employee from a position that may enable such Employee to cause the Insured to suffer a loss by any subsequent Dishonest
or Fraudulent Act(s) or Theft. The Insured, within two (2) business days of such detection, shall notify the Underwriter with full
and complete particulars of the detected Dishonest or Fraudulent Act(s) or Theft.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">For
purposes of this section, detection occurs when any partner, officer, or supervisory employee of any Insured, who is not in collusion
with such Employee, becomes aware that the Employee has committed any Dishonest or Fraudulent Act(s) or Theft.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">This
Bond shall terminate as to any Employee by written notice from the Underwriter to each Insured and, if such Employee is an Employee
of an Insured Investment Company, to the Securities and Exchange Commission, in all cases not less than sixty (60) days prior to
the effective date of termination specified in such notice.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>SECTION
14. RIGHTS AFTER TERMINATION</B> </FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">At
any time prior to the effective date of termination of this Bond as to any Insured, such Insured may, by written notice to the
Underwriter, elect to purchase the right under this Bond to an additional period of twelve (12) months within which to discover
loss sustained by such Insured prior to the effective date of such termination and shall pay an additional premium therefor as
the Underwriter may require.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify"></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">Such additional
discovery period shall terminate immediately and without notice upon the takeover of such Insured&rsquo;s business by any State
or Federal official or agency, or by any receiver or liquidator. Promptly after such termination the Underwriter shall refund to
the Insured any unearned premium.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">The
right to purchase such additional discovery period may not be exercised by any State or Federal official or agency, or by any receiver
or liquidator, acting or appointed to take over the Insured&rsquo;s business.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>SECTION
15. CENTRAL HANDLING OF SECURITIES</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">The Underwriter
shall not be liable for loss in connection with the central handling of securities within the systems established and maintained
by any Depository (&ldquo;Systems&rdquo;), unless the amount of such loss exceeds the amount recoverable or recovered under any
bond or policy or participants&rsquo; fund insuring the Depository against such loss (the &ldquo;Depository&rsquo;s Recovery&rdquo;);
in such case the Underwriter shall be liable hereunder only for the Insured&rsquo;s share of such excess loss, subject to the applicable
Limit of Liability, the Deductible Amount and the other terms of this Bond.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">For
determining the Insured&rsquo;s share of such excess loss, (1) the Insured shall be deemed to have an interest in any certificate
representing any security included within the Systems equivalent to the interest the Insured then has in all certificates representing
the same security included within the Systems; (2) the Depository shall have reasonably and fairly apportioned the Depository&rsquo;s
Recovery among all those having an interest as recorded by appropriate entries in the books and records of the Depository in Property
involved in such loss, so that each such interest shall share in the Depository&rsquo;s Recovery in the ratio that the value of
each such interest bears to the total value of all such interests; and (3) the Insured&rsquo;s share of such excess loss shall
be the amount of the Insured&rsquo;s interest in such Property in excess of the amount(s) so apportioned to the Insured by the
Depository.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">This
Bond does not afford coverage in favor of any Depository or Exchange or any nominee in whose name is registered any security included
within the Systems.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>SECTION
16. ADDITIONAL COMPANIES INCLUDED AS INSURED</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">If more
than one entity is named as the Insured:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">A.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">the total liability of the Underwriter hereunder for each
Single Loss shall not exceed the Limit of Liability which would be applicable if there were only one named Insured, regardless
of the number of Insured entities which sustain loss as a result of such Single Loss,</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">B.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">the Insured first named in Item 1 of the Declarations shall
be deemed authorized to make, adjust, and settle, and receive and enforce payment of, all claims hereunder as the agent of each
other Insured for such purposes and for the giving or receiving of any notice required or permitted to be given hereunder; provided,
that the Underwriter shall promptly furnish each named Insured Investment Company with (1) a copy of this Bond and any amendments
thereto, (2) a copy of each formal filing of a claim hereunder by any other Insured, and (3) notification of the terms of the settlement
of each such claim prior to the execution of such settlement,</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">C.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">the Underwriter shall not be responsible or have any liability
for the proper application by the Insured first named in Item 1 of the Declarations of any payment made hereunder to the first
named Insured,</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">D.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">for the purposes of Sections 4 and 13, knowledge possessed
or discovery made by any partner, officer or supervisory Employee of any Insured shall constitute knowledge or discovery by every
named Insured,</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">E.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">if the first named Insured ceases for any reason to be covered
under this Bond, then the Insured next named shall thereafter be considered as the first named Insured for the purposes of this
Bond, and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">F.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">each named Insured shall constitute &ldquo;the Insured&rdquo;
for all purposes of this Bond.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>SECTION
17. NOTICE AND CHANGE OF CONTROL</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">Within
thirty (30) days after learning that there has been a change in control of an Insured by transfer of its outstanding voting securities
the Insured shall give written notice to the Underwriter of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">A.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">the names of the transferors and transferees (or the names
of the beneficial owners if the voting securities are registered in another name), and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">B.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">the total number of voting securities owned by the transferors
and the transferees (or the beneficial owners), both immediately before and after the transfer, and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="letter-spacing: -0.1pt">C.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">the total number of outstanding voting securities.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 27pt; letter-spacing: -0.1pt; text-align: justify">As used
in this Section, &ldquo;control&rdquo; means the power to exercise a controlling influence over the management or policies of the
Insured.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>SECTION
18. CHANGE OR MODIFICATION</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 24pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">This
Bond may only be modified by written Rider forming a part hereof over the signature of the Underwriter&rsquo;s authorized representative.
Any Rider which modifies the coverage provided by Insuring Agreement A, Fidelity, in a manner which adversely affects the rights
of an Insured Investment Company shall not become effective until at least sixty (60) days after the Underwriter has given written
notice thereof to the Securities and Exchange Commission, Washington, D.C., and to each Insured Investment Company affected thereby.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>SECTION
19. COMPLIANCE WITH APPLICABLE TRADE AND ECONOMIC SANCTIONS</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 24pt 27pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">This
Bond shall not be deemed to provide any coverage, and the Underwriter shall not be required to pay any loss or provide any benefit
hereunder, to the extent that the provision of such coverage, payment of such loss or provision of such benefit would cause the
Underwriter to be in violation of any applicable trade or economic sanctions, laws or regulations, including, but not limited to,
any sanctions, laws or regulations administered and enforced by the U.S. Department of Treasury Office of Foreign Assets Control
(OFAC).</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: -0.1pt; text-align: justify">IN WITNESS WHEREOF,
the Underwriter has caused this Bond to be executed on the Declarations Page.</P>


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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ICI MUTUAL INSURANCE COMPANY,</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>a Risk Retention Group</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>INVESTMENT
COMPANY BLANKET BOND</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>RIDER
NO. 1</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">In consideration of the premium charged for this Bond, it is hereby
understood and agreed that Item 1 of the Declarations, Name of Insured, shall include the following:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Cash Account Trust, a series fund consisting of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Government &amp; Agency Securities Portfolio</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Tax-Exempt Portfolio</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Cash Management Portfolio</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Cash Reserve Fund, Inc., a series fund consisting of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Prime Series</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche Equity 500 Index Portfolio</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche Global High Income Fund, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche Global/International Fund, Inc., a series fund
consisting of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Enhanced Emerging Markets Fixed Income Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Enhanced Global Bond Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche European Equity Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Global Growth Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Global Small Cap Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Global Infrastructure Fund</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche High Income Opportunities Fund, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche High Income Trust</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche Income Trust, a series fund consisting of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Core Fixed Income Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Global High Income fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Global Inflation Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche GNMA Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche High Income Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Limited Maturity Quality Income fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Short Duration Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Strategic Government Securities Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Ultra-Short Duration Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Ultra-Short Investment Grade Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Unconstrained Income Fund</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche Institutional Funds, a series fund consisting
of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche EAFE Equity Index Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Equity 500 Index Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche S&amp;P 500 Index Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche U.S. Bond Index Fund</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche International Fund, Inc., a series fund consisting
of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche CROCI&reg;<FONT STYLE="font-size: 8pt"> </FONT>International Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Emerging Markets Equity Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Emerging Market Frontier Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Global Equity Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Latin America Equity Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche World Dividend Fund</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche Investment Trust, a series fund consisting of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Capital Growth Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Core Equity Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche CROCI&reg; U.S. Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Large Cap Focus Growth Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Mid Cap Growth Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Small Cap Core Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Small Cap Growth Fund</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche Investment VIT Funds, a series fund consisting
of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Equity 500 Index VIP</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Small Cap Index VIP</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche Market Trust, a series fund consisting of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Alternative Asset Allocation Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Diversified Market Neutral Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Global Income Builder Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Select Alternative Allocation Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Strategic Equity Long/Short Fund</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche Money Funds, a series fund consisting of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Money Market Prime Series</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche Money Market Trust, a series fund consisting
of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Cash Management Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Cash Reserve Fund Institutional</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Daily Assets Fund Institutional</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Money Market Series</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>NY Tax Free Money Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Tax Free Money Fund Investment</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche Multi-Market Income Trust</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche Municipal Income Trust</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche Municipal Trust, a series fund consisting of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Managed Municipal Bond Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Short-Term Municipal Bond Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Strategic High Yield Tax-Free Fund</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche Portfolio Trust, a series fund consisting of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Core Plus Income Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Floating Rate Fund</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche Securities Trust, a series fund consisting of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Communications Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche CROCI&reg; Sector Opportunities Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Enhanced Commodity Strategy Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Global Real Estate Securities Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Gold &amp; Precious Metals Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Health &amp; Wellness Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche MLP &amp; Energy Infrastructure Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Real Estate Securities Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Real Estate Securities Income Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Science &amp; Technology Fund</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche State Tax-Free Income Series, a series fund
consisting of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche California Tax-Free Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Massachusetts Tax-Free Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche New York Tax-Free Income Fund</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche Strategic Income Trust</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche Strategic Municipal Income Trust</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 22.5pt">Deutsche Asset Allocation Trust, a series fund
consisting of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Multi-Asset Conservative Allocation Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Multi-Asset Global Allocation Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Multi-Assets Moderate Allocation Fund</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche Tax Free Trust, a series fund consisting of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Intermediate Tax/AMT Free Fund</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche Value Series, Inc., a series fund consisting
of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche CROCI&reg; Equity Dividend Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Large Cap Value Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Mid Cap Value Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Small Cap Value Fund</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche Variable Series I, a series fund consisting
of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Bond VIP</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Capital Growth VIP</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Core Equity VIP</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Global Small Cap Growth VIP</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche CROCI&reg; International VIP</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">Deutsche Variable Series II, a series fund consisting
of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Alternative Asset Allocation VIP</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Global Equity VIP</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Global Growth VIP</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Global Income Builder VIP</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Government &amp; Agency Securities VIP</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche High Income VIP</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Large Cap Value VIP</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Money Market VIP</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Small Mid Cap Growth VIP</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Small Mid Cap Value VIP</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Unconstrained Income VIP</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">&nbsp;Investors Cash Trust, a series fund consisting
of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Central Cash Management Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Deutsche Variable NAV Money Fund</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Treasury Portfolio</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-indent: -22.5pt">Tax-Exempt California Money Market
Fund</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-indent: -22.5pt">Deutsche RREEF Real Estate Fund Liquidating
Trust</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-indent: -22.5pt">Deutsche RREEF Real Estate Fund II
Liquidating Trust</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-indent: -22.5pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-indent: -22.5pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Except
as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">RN1.0-00 (1/02)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ICI MUTUAL INSURANCE COMPANY,</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>a Risk Retention Group</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>INVESTMENT
COMPANY BLANKET BOND</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>RIDER
NO. 2</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 0.75pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt"><B>INSURED&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;BOND NUMBER</B></FONT><B><FONT STYLE="font-size: 8.5pt">
</FONT></B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.75pt solid"><FONT STYLE="letter-spacing: -0.1pt"><B>Deutsche
Investment Trust&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;87146115B</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>EFFECTIVE DATE&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;BOND PERIOD&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;AUTHORIZED REPRESENTATIVE</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 2.25pt double"><FONT STYLE="letter-spacing: -0.1pt"><B>September
30, 2015&#9; &#9;&#9;  September 30, 2015 to September 30, 2016&#9; &#9; /S/ Matthew Link</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.1pt">In consideration of the premium
charged for this Bond, it is hereby understood and agreed that notwithstanding Section 2.Q of this Bond, this Bond is amended by
adding an additional Insuring Agreement J as follows:</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">J.&#9;COMPUTER
SECURITY</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Loss (including
loss of Property) resulting directly from Computer Fraud; <U>provided</U>, that the Insured has adopted in writing and generally
maintains and follows during the Bond Period all Computer Security Procedures. The isolated failure of the Insured to maintain
and follow a particular Computer Security Procedure in a particular instance will not preclude coverage under this Insuring Agreement,
subject to the specific exclusions herein and in the Bond.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><U>Definitions</U>. The following terms used in this Insuring
Agreement shall have the following meanings:</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">&quot;Authorized User&quot; means any person or entity designated by the Insured (through contract,
assignment of User Identification, or otherwise) as authorized to use a Covered Computer System, or any part thereof. An individual
who invests in an Insured Fund shall not be considered to be an Authorized User solely by virtue of being an investor.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">&quot;Computer Fraud&quot; means the unauthorized entry of data into, or the deletion or destruction
of data in, or change of data elements or programs within, a Covered Computer System which:</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">is committed by any Unauthorized Third Party anywhere, alone
or in collusion with other Unauthorized Third Parties; <U>and</U></FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.25in"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">is committed with the conscious manifest intent (a) to cause
the Insured to sustain a loss, <U>and</U> (b) to obtain financial benefit for the perpetrator or any other person; <U>and</U></FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.25in"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">causes (x) Property to be transferred, paid or delivered;
<U>or</U> (y) an account of the Insured, or of its customer, to be added, deleted, debited or credited; <U>or</U> (z) an unauthorized
or fictitious account to be debited or credited.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">c.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&quot;Computer Security Procedures&quot; means procedures
for prevention of unauthorized computer access and use and administration of computer access and use as provided in writing to
the Underwriter.<STRIKE> </STRIKE></FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">d.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&quot;Covered Computer System&quot; means any Computer System
as to which the Insured has possession, custody and control.</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">e.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&quot;Unauthorized Third Party&quot; means any person or entity
that, at the time of the Computer Fraud, is not an Authorized User.</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">f.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&quot;User Identification&quot; means any unique user name
(<I>i.e.</I>, a series of characters) that is assigned to a person or entity by the Insured.</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><U>Exclusions</U>. It is further understood and agreed that
this Insuring Agreement J shall not cover:</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">a.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Any loss covered under Insuring Agreement A, &quot;Fidelity,&quot;
of this Bond; <U>and</U></FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">b.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Any loss resulting directly or indirectly from Theft or misappropriation
of confidential or proprietary information, material or data (including but not limited to trade secrets, computer programs or
customer information); <U>and</U></FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">c.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Any loss resulting from the intentional failure to adhere
to one or more Computer Security Procedures; <U>and</U></FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">d.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Any loss resulting from a Computer Fraud committed by or in
collusion with:</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">(1)</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">any Authorized User (whether a natural
person or an entity); <U>or</U></FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in 0 81pt; text-align: justify; text-indent: -27pt"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">(2)</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">in the case of any Authorized User which
is an entity, (a) any director, officer, partner, employee or agent of such Authorized User, or (b) any entity which controls,
is controlled by, or is under common control with such Authorized User (&quot;Related Entity&quot;), or (c) any director, officer,
partner, employee or agent of such Related Entity; <U>or</U></FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in 0 81pt; text-align: justify; text-indent: -27pt"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">(3)</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">in the case of any Authorized User who
is a natural person, (a) any entity for which such Authorized User is a director, officer, partner, employee or agent (&quot;Employer
Entity&quot;), or (b) any director, officer, partner, employee or agent of such Employer Entity, or (c) any entity which controls,
is controlled by, or is under common control with such Employer Entity (&quot;Employer-Related Entity&quot;), or (d) any director,
officer, partner, employee or agent of such Employer-Related Entity;</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><U>and</U></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">e.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Any loss resulting from physical damage to or destruction
of any Covered Computer System, or any part thereof, or any data, data elements or media associated therewith; <U>and</U></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">f.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Any loss resulting from Computer Fraud committed by means
of wireless access to any Covered Computer System, or any part thereof, or any data, data elements or media associated therewith;
<U>and</U></FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">g.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Any loss not directly and proximately caused by Computer Fraud
(including, without limitation, disruption of business and extra expense); <U>and</U></FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="letter-spacing: -0.1pt">h.&#9;Payments
made to any person(s) who has threatened to deny or has denied authorized access to a Covered Computer System or otherwise has
threatened to disrupt the business of the Insured.&#9;&#9;</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">For purposes
of this Insuring Agreement, &quot;Single Loss,&quot; as defined in Section 1.X of this Bond, shall also include all loss caused
by Computer Fraud(s) committed by one person, or in which one person is implicated, whether or not that person is specifically
identified. A series of losses involving unidentified individuals, but arising from the same method of operation, may be deemed
by the Underwriter to involve the same individual and in that event shall be treated as a Single Loss.</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">It is
further understood and agreed that nothing in this Rider shall affect the exclusion set forth in Section 2.O of this Bond.</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Coverage
under this Insuring Agreement shall terminate upon termination of this Bond. Coverage under this Insuring Agreement may also be
terminated without terminating this Bond as an entirety:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">by written notice from the Underwriter not less than sixty
(60) days prior to the effective date of termination specified in such notice; or</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">immediately by written notice from the Insured to the Underwriter.</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Except
as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">RN19.0-04 (12/03)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ICI MUTUAL INSURANCE COMPANY,</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>a Risk Retention Group</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>INVESTMENT
COMPANY BLANKET BOND</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>RIDER
NO. 3</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt"><B>INSURED&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;BOND NUMBER</B></FONT><B><FONT STYLE="font-size: 8.5pt">
</FONT></B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.75pt solid"><FONT STYLE="letter-spacing: -0.1pt"><B>Deutsche
Investment Trust&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;87146115B</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>EFFECTIVE DATE&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;BOND PERIOD&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;AUTHORIZED REPRESENTATIVE</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 2.25pt double"><FONT STYLE="letter-spacing: -0.1pt"><B>September
30, 2015&#9; &#9;&#9;  September 30, 2015 to September 30, 2016&#9; &#9; /S/ Matthew Link</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">In consideration
of the premium charged for this Bond, it is hereby understood and agreed that the Deductible Amount for Insuring Agreement E, Forgery
or Alteration, and Insuring Agreement F, Securities, shall not apply with respect to loss through Forgery of a signature on the
following documents:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 1in 0 63pt; text-align: justify; text-indent: -27pt"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">(1)</TD><TD STYLE="text-align: justify; padding-right: 0.25in">letter requesting redemption of $50,000 or less payable by check to the
shareholder of record and addressed to the address of record; or</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.25in 0 63pt; text-align: justify; text-indent: -27pt"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">(2)</TD><TD STYLE="text-align: justify; padding-right: 0.25in">letter requesting redemption of $50,000 or less by wire transfer to the
record shareholder's bank account of record; or</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.25in 0 63pt; text-align: justify; text-indent: -27pt"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">(3)</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">written request to a trustee or custodian
for a Designated Retirement Account (&quot;DRA&quot;) which holds shares of an Insured Fund, where such request (a) purports to
be from or at the instruction of the Owner of such DRA, and (b) directs such trustee or custodian to transfer </FONT>$50,000 <FONT STYLE="letter-spacing: -0.1pt">or
less from such DRA to a trustee or custodian for another DRA established for the benefit of such Owner;</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 1in 0 63pt; text-align: justify; text-indent: -27pt"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><U>provided</U>,
that the Limit of Liability for a Single Loss as described above shall be </FONT>$50,000 <FONT STYLE="letter-spacing: -0.1pt">and
that the Insured shall bear 20% of each such loss. This Rider shall not apply in the case of any such Single Loss which exceeds
</FONT>$50,000; <FONT STYLE="letter-spacing: -0.1pt">in such case the Deductible Amounts and Limits of Liability set forth in Item
3 of the Declarations shall control.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">For purposes
of this Rider:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">(A)</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">&quot;Designated Retirement Account&quot;
means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount
thereof.</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.25in 0 45pt; text-align: justify; text-indent: -27pt"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">(B)</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">&quot;Owner&quot; means the individual
for whose benefit the DRA, or a subaccount thereof, is established.</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Except
as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="letter-spacing: -0.1pt">RN27.0-02
(10/08)</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>


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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ICI MUTUAL INSURANCE COMPANY,</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>a Risk Retention Group</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>INVESTMENT
COMPANY BLANKET BOND</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>RIDER
NO. 4</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 0.75pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt"><B>INSURED&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;BOND NUMBER</B></FONT><B><FONT STYLE="font-size: 8.5pt">
</FONT></B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.75pt solid"><FONT STYLE="letter-spacing: -0.1pt"><B>Deutsche
Investment Trust&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;87146115B</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>EFFECTIVE DATE&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;BOND PERIOD&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;AUTHORIZED REPRESENTATIVE</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 2.25pt double"><FONT STYLE="letter-spacing: -0.1pt"><B>September
30, 2015&#9; &#9;&#9;  September 30, 2015 to September 30, 2016&#9; &#9; /S/ Matthew Link</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">In consideration
of the premium charged for this Bond, it is hereby understood and agreed that this Bond does not cover any loss resulting from
or in connection with the acceptance of any Third Party Check, unless</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">(1)</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">such Third Party Check is used to open
or increase an account which is registered in the name of one or more of the payees on such Third Party Check, and</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.25in 0 45pt; text-align: justify; text-indent: -27pt"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">(2)</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">reasonable efforts are made by the
Insured, or by the entity receiving Third Party Checks on behalf of the Insured, to verify all endorsements on all Third Party
Checks made payable in amounts greater than $100,000 (provided, however, that the isolated failure to make such efforts in a particular
instance will not preclude coverage, subject to the exclusions herein and in the Bond), </FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -1in"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -1in"><FONT STYLE="letter-spacing: -0.1pt">and
then only to the extent such loss is otherwise covered under this Bond.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -1in"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">For purposes
of this Rider, &quot;Third Party Check&quot; means a check made payable to one or more parties and offered as payment to one or
more other parties.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">It is
further understood and agreed that notwithstanding anything to the contrary above or elsewhere in the Bond, this Bond does not
cover any loss resulting from or in connection with the acceptance of a Third Party Check where:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">(1)</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">any payee on such Third Party Check
reasonably appears to be a corporation or other entity; or</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.25in 0 45pt; text-align: justify; text-indent: -27pt"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="letter-spacing: -0.1pt">(2)</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">such Third Party Check is made payable
in an amount greater than $100,000 and does not include the purported endorsements of all payees on such Third Party Check.</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">It is
further understood and agreed that this Rider shall not apply with respect to any coverage that may be available under Insuring
Agreement A, &quot;Fidelity.&quot;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Except
as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="letter-spacing: -0.1pt">RN30.0-01
(1/02)</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>


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    <!-- Field: /Page -->

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ICI MUTUAL INSURANCE COMPANY,</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>a Risk Retention Group</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>INVESTMENT
COMPANY BLANKET BOND</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>RIDER
NO. 5</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 0.75pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt"><B>INSURED&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;BOND NUMBER</B></FONT><B><FONT STYLE="font-size: 8.5pt">
</FONT></B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.75pt solid"><FONT STYLE="letter-spacing: -0.1pt"><B>Deutsche
Investment Trust&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;87146115B</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>EFFECTIVE DATE&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;BOND PERIOD&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;AUTHORIZED REPRESENTATIVE</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 2.25pt double"><FONT STYLE="letter-spacing: -0.1pt"><B>September
30, 2015&#9; &#9;&#9;  September 30, 2015 to September 30, 2016&#9; &#9; /S/ Matthew Link</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">In consideration
of the premium charged for this Bond, it is hereby understood and agreed that, notwithstanding anything to the contrary in General
Agreement A of this Bond, Item 1 of the Declarations shall include any Newly Created Investment Company or portfolio provided that
the Insured shall submit to the Underwriter within fifteen (15) days after the end of each calendar quarter, a list of all Newly
Created Investment Companies or portfolios, the estimated annual assets of each Newly Created Investment Company or portfolio,
and copies of any prospectuses and statements of additional information relating to such Newly Created Investment Companies or
portfolios, unless said prospectuses and statements of additional information have been previously submitted. Following the end
of a calendar quarter, any Newly Created Investment Company or portfolio created within the preceding calendar quarter will continue
to be an Insured <U>only</U> if the Underwriter is notified as set forth in this paragraph, the information required herein is
provided to the Underwriter, and the Underwriter acknowledges the addition of such Newly Created Investment Company or portfolio
to the Bond by a Rider to this Bond.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">For purposes
of this Rider, &ldquo;Newly Created Investment Company or portfolio&rdquo; shall mean any Investment Company or portfolio for which
registration with the SEC has been declared effective for a time period of less than one calendar quarter.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Except
as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="letter-spacing: -0.1pt">RN33.0-00
(10/08)&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ICI MUTUAL INSURANCE COMPANY,</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>a Risk Retention Group</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>INVESTMENT
COMPANY BLANKET BOND</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>RIDER
NO. 6</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 0.75pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt"><B>INSURED&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;BOND NUMBER</B></FONT><B><FONT STYLE="font-size: 8.5pt">
</FONT></B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.75pt solid"><FONT STYLE="letter-spacing: -0.1pt"><B>Deutsche
Investment Trust&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;87146115B</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>EFFECTIVE DATE&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;BOND PERIOD&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;AUTHORIZED REPRESENTATIVE</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 2.25pt double"><FONT STYLE="letter-spacing: -0.1pt"><B>September
30, 2015&#9; &#9;&#9;  September 30, 2015 to September 30, 2016&#9; &#9; /S/ Matthew Link</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In consideration for the premium charged for
this Bond, it is hereby understood and agreed that notwithstanding anything to the contrary in this Bond (including Insuring Agreement
I), this Bond does not cover any loss resulting from any On-Line Redemption(s) or On-Line Purchase(s) involving an aggregate amount
in excess of $250,000 per shareholder account per day, unless before such redemption(s) or purchase(s), in a procedure initiated
by the Insured or by the entity receiving the request for such On-Line Redemption(s) or On-Line Purchase(s):</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 22.5pt">(i)</TD><TD STYLE="text-align: justify">the Shareholder of Record verifies, by some method other than an Electronic Transmission effected
by computer-to-computer over the Internet or utilizing modem or similar connections, that each such redemption or purchase has
been authorized, and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 22.5pt">(ii)</TD><TD STYLE="text-align: justify">if such redemption or purchase is to be effected by wire to or from a particular bank account,
a duly authorized employee of the bank verifies the account number to or from which funds are being transferred, and that the name
on the account is the same as the name of the intended recipient of the proceeds; <U>or</U></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">It is further understood and agreed that, notwithstanding
the Limit of Liability set forth herein or any other provision of this Bond, the Limit of Liability with respect to any Single
Loss caused by an On-Line Transaction shall be Ten Million Dollars ($10,000,000) and the On-Line Deductible with respect to Insuring
Agreement I is Fifty Thousand Dollars ($50,000).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">It is further understood and agreed that notwithstanding
Section 8, Non-Reduction and Non-Accumulation of Liability and Total Liability, or any other provision of this Bond, the Aggregate
Limit of Liability of the Underwriter under this Bond with respect to any and all loss or losses caused by On-Line Transactions
shall be an aggregate of Ten Million Dollars ($10,000,000) for the Bond Period, irrespective of the total amount of such loss or
losses.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For purposes of this Rider, the following terms
shall have the following meanings:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&ldquo;On-Line Purchase&rdquo; means any purchase
of shares issued by an Investment Company, which purchase is requested by computer-to-computer transmissions over the Internet
(including any connected or associated intranet or extranet) or utilizing modem or similar connections.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;&ldquo;On-Line Redemption&rdquo; means
any redemption of shares issued by an Investment Company, which redemption is requested by computer-to computer transmissions
over the Internet (including any connected or associated intranet or extranet) or utilizing modem or similar connections.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&ldquo;On-Line Transaction&rdquo; means any
Phone/Electronic Transaction requested by computer-to-computer transmissions over the Internet (including any connected or associated
intranet or extranet) or utilizing modem or similar connections.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Except
as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">RN38.0-02 (8/02)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ICI MUTUAL INSURANCE COMPANY,</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>a Risk Retention Group</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>INVESTMENT
COMPANY BLANKET BOND</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>RIDER
NO. 7</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 0.75pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt"><B>INSURED&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;BOND NUMBER</B></FONT><B><FONT STYLE="font-size: 8.5pt">
</FONT></B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.75pt solid"><FONT STYLE="letter-spacing: -0.1pt"><B>Deutsche
Investment Trust&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;87146115B</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>EFFECTIVE DATE&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;BOND PERIOD&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;AUTHORIZED REPRESENTATIVE</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 2.25pt double"><FONT STYLE="letter-spacing: -0.1pt"><B>September
30, 2015&#9; &#9;&#9;  September 30, 2015 to September 30, 2016&#9; &#9; /S/ Matthew Link</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In consideration for the premium charged for
this Bond, it is hereby understood and agreed that, with respect to Insuring Agreement I only, the Deductible Amount set forth
in Item 3 of the Declarations (&ldquo;Phone/Electronic Deductible&rdquo;) shall not apply with respect to a Single Loss, otherwise
covered by Insuring Agreement I, caused by:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">a Phone/Electronic Redemption requested to be paid or made payable by check to the Shareholder
of Record at the address of record; or</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">a Phone/Electronic Redemption requested to be paid or made payable by wire transfer to the Shareholder
of Record&rsquo;s bank account of record,</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>provided</U>, that the Limit of Liability
for a Single Loss as described in (1) or (2) above shall be the lesser of 80% of such loss or $40,000 and that the Insured shall
bear the remainder of each such Loss. This Rider shall not apply if the application of the Phone/Electronic Deductible to the Single
Loss would result in coverage of greater than $40,000 or more; in such case the Phone-initiated Deductible and Limit of Liability
set forth in Item 3 of the Declarations shall control.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For purposes of this Rider, &ldquo;Phone/Electronic
Redemption&rdquo; means any redemption of shares issued by an Investment Company, which redemption is requested (a) by voice over
the telephone, (b) through an automated telephone tone or voice response system, (c) by Telefacsimile, or (d) by computer-to-computer
transmission over the Internet (including any connected or associated intranet or extranet) or utilizing modem or similar connections.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;Except as above stated, nothing herein
shall be held to alter, waive or extend any of the terms of this Bond.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">RN39.0-02 (8/02)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ICI MUTUAL INSURANCE COMPANY,</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>a Risk Retention Group</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>INVESTMENT
COMPANY BLANKET BOND</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>RIDER
NO. 8</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 0.75pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt"><B>INSURED&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;BOND NUMBER</B></FONT><B><FONT STYLE="font-size: 8.5pt">
</FONT></B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.75pt solid"><FONT STYLE="letter-spacing: -0.1pt"><B>Deutsche
Investment Trust&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;87146115B</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>EFFECTIVE DATE&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;BOND PERIOD&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;AUTHORIZED REPRESENTATIVE</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 2.25pt double"><FONT STYLE="letter-spacing: -0.1pt"><B>September
30, 2015&#9; &#9;&#9;  September 30, 2015 to September 30, 2016&#9; &#9; /S/ Matthew Link</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In consideration of the premium charged for
this Bond, it is hereby understood and agreed that notwithstanding Section 8, Non-Reduction and Non Accumulation of Liability and
Total Liability, or any other provision of this Bond, the total liability of the Underwriter under this Bond with respect to all
losses, under Insuring Agreement H, Uncollectible Items of Deposit, shall be limited to an aggregate of Seven Million Dollars ($7,000,000)
for the Bond Period, irrespective of the total amount of any such loss or losses.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Except
as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">RNV24.0-01-146 (9/99)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ICI MUTUAL INSURANCE COMPANY,</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>a Risk Retention Group</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>INVESTMENT
COMPANY BLANKET BOND</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>RIDER
NO. 9</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 0.75pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt"><B>INSURED&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;BOND NUMBER</B></FONT><B><FONT STYLE="font-size: 8.5pt">
</FONT></B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.75pt solid"><FONT STYLE="letter-spacing: -0.1pt"><B>Deutsche
Investment Trust&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;87146115B</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>EFFECTIVE DATE&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;BOND PERIOD&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;AUTHORIZED REPRESENTATIVE</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 2.25pt double"><FONT STYLE="letter-spacing: -0.1pt"><B>September
30, 2015&#9; &#9;&#9;  September 30, 2015 to September 30, 2016&#9; &#9; /S/ Matthew Link</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In consideration of the premium charged for
this Bond, it is hereby understood and agreed that for purposes of Section I.G &quot;Employee&quot; shall include all persons appointed
&quot;honorary director&quot; of an Investment Company named as an Insured.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Except
as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="letter-spacing: -0.1pt">RNM14.0-00-146
(12/91)&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>


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    <!-- Field: /Page -->

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ICI MUTUAL INSURANCE COMPANY,</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>a Risk Retention Group</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>INVESTMENT
COMPANY BLANKET BOND</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>RIDER
NO. 10</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 0.75pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt"><B>INSURED&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;BOND NUMBER</B></FONT><B><FONT STYLE="font-size: 8.5pt">
</FONT></B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.75pt solid"><FONT STYLE="letter-spacing: -0.1pt"><B>Deutsche
Investment Trust&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;87146115B</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>EFFECTIVE DATE&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;BOND PERIOD&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;AUTHORIZED REPRESENTATIVE</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 2.25pt double"><FONT STYLE="letter-spacing: -0.1pt"><B>September
30, 2015&#9; &#9;&#9;  September 30, 2015 to September 30, 2016&#9; &#9; /S/ Matthew Link</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Most property and casualty insurers, including
ICI Mutual Insurance Company, a Risk Retention Group (&ldquo;ICI Mutual&rdquo;), are subject to the requirements of the Terrorism
Risk Insurance Act of 2002, as amended (the &ldquo;Act&rdquo;). The Act establishes a federal insurance backstop under which ICI
Mutual and these other insurers will be partially reimbursed for future <B>&ldquo;insured losses&rdquo;</B> resulting from certified<B>
&ldquo;acts of terrorism.&rdquo;</B> (Each of these <B>bolded terms </B>is defined by the Act.) The Act also places certain disclosure
and other obligations on ICI Mutual and these other insurers.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the Act, any future losses to ICI
Mutual caused by certified <B>&ldquo;acts of terrorism&rdquo;</B> will be partially reimbursed by the United States government
under a formula established by the Act. Under this formula, the United States government will reimburse ICI Mutual for the Federal
Share of Compensation of ICI Mutual&rsquo;s <B>&ldquo;insured losses&rdquo;</B> in excess of ICI Mutual&rsquo;s <B>&ldquo;insurer
deductible&rdquo;</B> until total <B>&ldquo;insured losses&rdquo;</B> of all participating insurers in excess of a statutorily
established aggregate deductible reach the Cap on Annual Liability. If total <B>&ldquo;insured losses&rdquo; </B>of all property
and casualty insurers in excess of a statutorily established aggregate deductible reach the Cap on Annual Liability during any
applicable period, the Act provides that the insurers will not be liable under their policies for their portions of such losses
that exceed such amount. Amounts otherwise payable under this policy may be reduced as a result.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This policy has no express exclusion for <B>&ldquo;acts
of terrorism.&rdquo;</B> However, coverage under this policy remains subject to all applicable terms, conditions and limitations
of the policy (including exclusions) that are permissible under the Act. The portion of the premium that is attributable to any
coverage potentially available under the policy for <B>&ldquo;acts of terrorism&rdquo;</B> is one percent (1%).</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">As used herein, &ldquo;Federal Share of Compensation&rdquo; shall
mean:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">85% in calendar year 2015;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">84% in calendar year 2016;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">83% in calendar year 2017;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">82% in calendar year 2018;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">81% in calendar year 2019; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">80% in calendar year 2020.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As used herein, &ldquo;Cap on Annual Liability&rdquo;
shall mean, with respect to total <B>&ldquo;insured losses&rdquo;</B> of all participating insurers:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">$100 billion in calendar year 2015;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">$120 billion in calendar year 2016;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">$140 billion in calendar year 2017;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">$160 billion in calendar year 2018;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">$180 billion in calendar year 2019; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">$200 billion in calendar year 2020.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">RN53.1-00 (2/15)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ICI MUTUAL INSURANCE COMPANY,</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>a Risk Retention Group</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>INVESTMENT
COMPANY BLANKET BOND</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>RIDER
NO. 11</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 0.75pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt"><B>INSURED&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;BOND NUMBER</B></FONT><B><FONT STYLE="font-size: 8.5pt">
</FONT></B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.75pt solid"><FONT STYLE="letter-spacing: -0.1pt"><B>Deutsche
Investment Trust&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;87146115B</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>EFFECTIVE DATE&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;BOND PERIOD&#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;&#9; &#9;AUTHORIZED REPRESENTATIVE</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 2.25pt double"><FONT STYLE="letter-spacing: -0.1pt"><B>September
30, 2015&#9; &#9;&#9;  September 30, 2015 to September 30, 2016&#9; &#9; /S/ Matthew Link</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">In consideration of the premium charged for this Bond, it is hereby
understood and agreed that Section 1.G shall be amended to read as follows:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&quot;Dishonest
or Fraudulent Act&quot; means any dishonest or fraudulent act, including &quot;larceny and embezzlement&quot; as defined in Section
37 of the Investment Company Act of 1940, committed with the conscious manifest intent (1) to cause the Insured to sustain a loss
or (2) to obtain financial benefit for the perpetrator or any other person (other than salaries, commissions, fees, bonuses, awards,
profit sharing, pensions or other employee benefits). A Dishonest or Fraudulent Act does not mean or include a reckless act, a
negligent act, or a grossly negligent act.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Except
as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">RNM14.1-00-146 (10/04)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase">Certificate
of the Secretary</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 37.05pt">I, John Millette, do hereby certify as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>That I am the duly elected Secretary of the Deutsche Funds listed on the attached Schedule A (each, a &ldquo;Fund&rdquo;
and together, the &ldquo;Deutsche Funds,&rdquo; and each Fund&rsquo;s underlying portfolios, if applicable, sometimes referred
to as a &ldquo;Series&rdquo;);</P>

<P STYLE="font: 11.5pt/15pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 12pt">2.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 12pt">I further certify that the following is a complete and correct copy of resolutions adopted
by the members of the Board of Directors/Trustees of the Funds at a meeting held on September 11, 2015, and that such resolutions
have not been amended and are in full force and effect:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">RESOLVED, that, after due consideration
of all relevant factors including, but not limited to, the value of the aggregate assets of each Fund and Series to which any Covered
Person (which for the purpose of these resolutions shall mean each director, officer and employee of the Fund or of Deutsche Investment
Management Americas Inc. (&ldquo;DIMA&rdquo;), or an affiliate thereof, who may, singly or jointly with others, have access to
securities or other assets of a Fund and Series, either directly or through authority to draw upon such funds or to direct generally
the disposition of such assets) may have access, the type and terms of the arrangements made for the custody and safekeeping of
such assets, the number of other parties named as insureds and the sizes and nature of the businesses of such parties, and the
nature of the portfolio securities of each Fund and Series and of such other parties, the form of Investment Company Blanket Bond
issued by ICI Mutual Insurance Company for the period from September 30, 2015, to September 30, 2016 (the &ldquo;ICIM Bond&rdquo;),
and the amount thereof, namely primary coverage of up to $60 million for any larceny or embezzlement committed by any Covered Person,
are determined to be reasonable and are hereby ratified, confirmed, and approved; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">FURTHER RESOLVED, that, after consideration
of all relevant factors, including, but not limited to, the number of other parties named as insureds, the nature of the business
activities of such other parties, the amount of the ICIM Bond and the amount of the premium for the ICIM Bond, the ratable allocation
of the premium among all parties named as insureds, and the comparison of the share of the premium allocated to the Fund and each
Series to that which the Fund and each Series would have had to pay if it had provided and maintained a single insured bond, the
portion of the total premium allocated to the Fund and each Series, as presented to this meeting, for the period from September
30, 2015, to September 30, 2016, payable for coverage as described in the preceding resolution, be, and it hereby is, approved,
and the payment or the reimbursement by any officer of the Fund, on behalf of each Series, of DIMA or an affiliate thereof, as
the case may be, of such premium be, and it hereby is, approved; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">FURTHER RESOLVED, that the officers
of the Fund be, and they hereby are, and each hereby is, authorized to enter into an Insurance Allocation Agreement with the joint
insureds in the form presented to this meeting, with such changes as may be recommended by counsel, in conformity with paragraph
(f) of Rule 17g-1 of the 1940 Act.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">IN WITNESS WHEREOF, I hereunto set
my hand on December 15, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><U>/s/John Millette</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">John Millette</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Secretary</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt; text-align: center">SCHEDULE A<BR>
THE DEUTSCHE FUNDS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>CASH ACCOUNT TRUST, </B>and its series:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Government &amp; Agency Securities Portfolio</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Tax-Exempt Portfolio</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>CASH MANAGEMENT PORTFOLIO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>CASH RESERVE FUND, INC., </B>and its series:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Prime Series</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE ASSET ALLOCATION TRUST, </B>and its series:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Multi-Asset Conservative Allocation Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Multi-Asset Global Allocation Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Multi-Asset Moderate Allocation Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE EQUITY 500 INDEX PORTFOLIO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE FUNDS TRUST</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE GLOBAL HIGH INCOME FUND, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE GLOBAL/INTERNATIONAL FUND, INC.</B>, and its series:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Enhanced Emerging Markets Fixed Income Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Enhanced Global Bond Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche European Equity Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global Growth Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global Infrastructure Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global Small Cap Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE HIGH INCOME OPPORTUNITIES FUND, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE HIGH INCOME TRUST</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE INCOME TRUST</B>, and its series:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Core Fixed Income Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global High Income Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global Inflation Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche GNMA Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche High Income Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Limited Maturity Quality Income Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Short Duration Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Strategic Government Securities Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Ultra-Short Duration Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Ultra-Short Investment Grade Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Unconstrained Income Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE INSTITUTIONAL FUNDS, </B>and its series:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche EAFE Equity Index Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Equity 500 Index Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche S&amp;P 500 Index Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche U.S. Bond Index Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE INTERNATIONAL FUND, INC.</B>, and its series:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche CROCI&reg; International Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Emerging Markets Equity Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Emerging Markets Frontier Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global Equity Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Latin America Equity Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche World Dividend Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE INVESTMENT TRUST, </B>and its series:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Capital Growth Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Core Equity Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche CROCI&reg; U.S. Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Large Cap Focus Growth Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Mid Cap Growth Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Small Cap Core Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Small Cap Growth Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE INVESTMENTS VIT FUNDS, </B>and its series:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Equity 500 Index VIP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Small Cap Index VIP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE MARKET TRUST, </B>and its series:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Alternative Asset Allocation Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Diversified Market Neutral Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global Income Builder Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Select Alternative Allocation Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Strategic Equity Long/Short Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE MONEY FUNDS, </B>and its series:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Money Market Prime Series</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE MULTI-MARKET INCOME TRUST</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE MUNICIPAL INCOME TRUST</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE MUNICIPAL TRUST</B>, and its series:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Managed Municipal Bond Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Short-Term Municipal Bond Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Strategic High Yield Tax-Free Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE PORTFOLIO TRUST, </B>and its series:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Core Plus Income Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Floating Rate Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE SECURITIES TRUST</B>, and its series:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Communications Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche CROCI&reg; Sector Opportunities Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Enhanced Commodity Strategy Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global Real Estate Securities Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Gold &amp; Precious Metals Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Health and Wellness Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche MLP &amp; Energy Infrastructure Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Real Estate Securities Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Real Estate Securities Income Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Science and Technology Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE STATE TAX-FREE INCOME SERIES, </B>and its series:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche California Tax-Free Income Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Massachusetts Tax-Free Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche New York Tax-Free Income Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE STRATEGIC INCOME TRUST</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE STRATEGIC MUNICIPAL INCOME TRUST</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE TAX FREE TRUST, </B>and its series</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Intermediate Tax/AMT Free Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE VALUE SERIES, INC. </B>and its series:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche CROCI&reg; Equity Dividend Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Large Cap Value Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Mid Cap Value Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Small Cap Value Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE VARIABLE SERIES I</B>, and its series</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Bond VIP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Capital Growth VIP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Core Equity VIP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche CROCI&reg; International VIP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global Small Cap VIP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE VARIABLE SERIES II</B>, and its series</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Alternative Asset Allocation VIP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global Equity VIP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global Growth VIP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global Income Builder VIP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Government &amp; Agency Securities VIP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche High Income VIP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Large Cap Value VIP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Money Market VIP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Small Mid Cap Growth VIP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Small Mid Cap Value VIP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Unconstrained Income VIP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DWS MONEY MARKET TRUST, </B>and its series</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Cash Management Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Cash Reserve Fund Institutional</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Daily Assets Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Money Market Series</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">NY Tax Free Money Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Tax Free Money Fund Investment</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>INVESTORS CASH TRUST, </B>and its series:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Central Cash Management Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Variable NAV Money Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Treasury Portfolio</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>TAX-EXEMPT CALIFORNIA MONEY MARKET FUND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>FIDELITY BOND</B><U><BR>
</U><B>INSURANCE ALLOCATION AGREEMENT</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">THIS INSURANCE ALLOCATION
AGREEMENT (the &ldquo;Agreement&rdquo;) is made as of September 30, 2015, by and among the investment companies listed as signatories
on Schedule&nbsp;A to this Agreement (the &ldquo;Funds&rdquo;), on behalf of their respective series as set forth on Schedule&nbsp;A
to this Agreement (the &ldquo;Series&rdquo;), and Deutsche Investment Management Americas Inc. (the &ldquo;Adviser&rdquo;) (sometimes
individually hereinafter referred to as a &ldquo;party&rdquo; or collectively as &ldquo;parties&rdquo;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">WHEREAS, the Funds
have been named as insured parties (&ldquo;Insureds&rdquo;) under a joint insured fidelity bond with a policy period of October
1, 2015 to September 30, 2015 (hereinafter referred to individually as the &ldquo;Bond&rdquo;) approved by the Funds&rsquo; respective
Boards of Directors/Trustees (hereinafter referred to individually as a &ldquo;Board&rdquo; and collectively as the &ldquo;Boards&rdquo;);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">WHEREAS, the parties
desire to establish further: (i)&nbsp;the criteria by which the premiums for the Bond shall be allocated among the parties; (ii)&nbsp;the
basis on which additional investment companies or series for which the Adviser or its affiliates may hereafter act as investment
adviser may be added as named Insureds under the Bond; (iii)&nbsp;the criteria by which the amounts payable under the Bond shall
be allocated among the parties covered under same; and (iv)&nbsp;the manner in which the Adviser will report to the Funds&rsquo;
respective Boards information about claims and payments under any of the Bond;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">NOW, THEREFORE,
it is agreed as follows:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each Fund shall pay a portion of the premium of the Bond under which it is covered, which portion shall be determined as
of a specified date, which date shall be the same for all Funds, as allocated in such equitable manner as mutually agreed upon
by the Funds, subject to the approval of the Boards, including a majority of the non-interested directors or trustees, which amounts
are set forth on Schedule&nbsp;B to this Agreement. From time to time, adjustments may be made by mutual agreement of the Funds
to the portion of the balance of the premiums theretofore paid by a Fund, subject to the approval of the Boards, including a majority
of the non-interested directors or trustees, based on a subsequent change or changes in the gross assets of one or more Funds that
affects the amount which the Fund would have paid had it provided and maintained a single insured bond with the minimum coverage
required by Rule&nbsp;17g-1(d) under the Investment Company Act of&nbsp;1940, as amended (the &ldquo;Act&rdquo;) or the addition
or withdrawal of a Fund or Funds pursuant to this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the insurer issuing the Bond (the &ldquo;Insurer&rdquo;) is willing, with or without additional premium, to add, as an
Insured under the Bond, any investment company or series thereof not listed as a signatory to this Agreement for which the Adviser
or an affiliate thereof is investment adviser, administrator or underwriter, which investment company may be included in the Bond
pursuant to Rule&nbsp;17g-1(b) under the Act, the Funds agree (a)&nbsp;that such addition may be made provided that the non-interested
directors or trustees of the Funds covered by the Bond shall approve such addition and (b)&nbsp;that such additional investment
company may become a party to this Agreement and be included within the terms &ldquo;Fund&rdquo; or &ldquo;Series&rdquo; or &ldquo;party&rdquo;,
provided</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0pt">that in each case such investment company shall have executed and delivered to the Funds its written agreement to become
a party hereto and to be bound by the terms of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In the event that the claims of loss of two or more Insureds under the Bond are so related that the Insurer is entitled
to assert that the claims must be aggregated, or in the event that the aggregate recovery by two or more Insureds under the Bond
is less than the aggregate loss incurred by the Insureds that gave rise to the claims, the following rules shall determine, as
among the claimants, the priority of satisfaction of the claims under the Bond:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Each Fund claimant
with respect to the same claim shall receive the lesser of: (i)&nbsp;proceeds equal to the full amount of its claim; or (ii)&nbsp;the
amount which it would have received had it provided and maintained a single insured bond with a minimum coverage which such Fund
would have been required to carry by Rule&nbsp;17g-1(d) under the Act at the time the claim arose.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Adviser shall provide, on a quarterly basis, a report to the Funds&rsquo; respective Boards which shall include:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.5pt"></TD><TD STYLE="width: 36pt">(i)</TD><TD STYLE="text-align: justify">a description of any claim made during the preceding calendar quarter under the Bond; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.5pt"></TD><TD STYLE="width: 36pt">(ii)</TD><TD STYLE="text-align: justify">a description of the current status of any matter previously reported by the Adviser to the Funds&rsquo;
respective Boards pursuant to this Section&nbsp;4.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This Agreement shall become effective as of the date first above written, and shall remain in full force and effect during
the policy period of the Bond as specified herein and until all claims of loss relating to the policy period are finalized. Any
party may withdraw from this Agreement and the Bond upon sixty (60) days&rsquo; written notice to each of the other parties and
the Securities and Exchange Commission in accordance with Rule 17g-1 under the Act. The withdrawing party shall be entitled to
receive its proportionate share of any premium refund received from the Insurer.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This Agreement shall
supersede all prior premium sharing and allocation agreements entered into among the Funds and the Adviser, acting on its own behalf
and on behalf of its affiliates. Notwithstanding the foregoing, claims made under the Bond during a period prior to the effective
date of this Agreement (and any recoveries related to any such claims) shall be subject to the terms of the premium sharing and
allocation agreement in effect during that period.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The obligations of the Funds which are organized as Massachusetts business trusts, or any other investment company organized
as a Massachusetts business trust which may be added pursuant to Section&nbsp;2 under this Agreement, with respect to a Series
of such Funds, are not binding upon any of the trustees or holders of shares of beneficial interest of any such trust individually,
but bind only the assets and property of such Series.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">[The remainder of
this page is intentionally blank.]</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF
the parties have caused this Agreement to be executed by their officers, as appropriate, hereunto duly authorized all as of the
day and year first above written.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">On behalf of the Deutsche Funds set forth</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">on Schedule A</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: <U>/s/John Millette</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 265.7pt">Name: John Millette</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 265.7pt">Title: Vice President &amp; Secretary</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">On behalf of Deutsche Investment Management Americas Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: <U>/s/Caroline Pearson</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 265.7pt">Name: Caroline Pearson</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 265.7pt">Title: Managing Director</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">On behalf of Deutsche Investment Management Americas Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">By: <U>/s/John Millette</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 265.7pt">Name: John Millette</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 265.7pt">Title: Chief Legal Officer and Secretary</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center">SCHEDULE&nbsp;A:
INSUREDS</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center">FUNDS</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>CASH ACCOUNT TRUST, </B>and its series:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Government &amp; Agency Securities Portfolio</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Tax-Exempt Portfolio</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>CASH MANAGEMENT PORTFOLIO</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>CASH RESERVE FUND, INC., </B>and its series: Prime Series</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE EQUITY 500 INDEX PORTFOLIO</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE GLOBAL HIGH INCOME FUND, INC.</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE GLOBAL/INTERNATIONAL FUND, INC.</B>, and its series:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Enhanced Emerging Markets Fixed Income Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Enhanced Global Bond Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche European Equity Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global Growth Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global Infrastructure Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global Small Cap Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE HIGH INCOME OPPORTUNITIES FUND, INC.</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE HIGH INCOME TRUST</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE INCOME TRUST</B>, and its series:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Core Fixed Income Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global High Income Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global Inflation Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche GNMA Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche High Income Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Limited Maturity Quality Income Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Short Duration Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Strategic Government Securities Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Ultra-Short Duration Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Ultra-Short Quality Income Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Unconstrained Income Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE INSTITUTIONAL FUNDS, </B>and its series:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche EAFE Equity Index Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Equity 500 Index Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche S&amp;P 500 Index Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche U.S. Bond Index Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;<B>&nbsp;</B></P></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE INTERNATIONAL FUND, INC.</B>, and its series:</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Deutsche CROCI</FONT>&reg;<FONT STYLE="font-size: 10pt">
        International Fund</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Emerging Markets Equity Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Emerging Markets Frontier Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global Equity Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Latin America Equity Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche World Dividend Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE INVESTMENT TRUST, </B>and its series:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Capital Growth Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Core Equity Fund</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Deutsche CROCI</FONT>&reg;<FONT STYLE="font-size: 10pt">
        U.S. Fund </FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Large Cap Focus Growth Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Mid Cap Growth Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Small Cap Core Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Small Cap Growth Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE INVESTMENTS VIT FUNDS, </B>and its series:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Equity 500 Index VIP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Small Cap Index VIP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE MARKET TRUST, </B>and its series:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Alternative Asset Allocation Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Diversified Market Neutral Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global Income Builder Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Select Alternative Allocation Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Strategic Equity Long/Short Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE MONEY FUNDS, </B>and its series:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Money Market Prime Series</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE MULTI-MARKET INCOME TRUST</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE MUNICIPAL INCOME TRUST</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE MUNICIPAL TRUST</B>, and its series:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Managed Municipal Bond Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Short-Term Municipal Bond Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Strategic High Yield Tax-Free Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE PORTFOLIO TRUST, </B>and its series:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Core Plus Income Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Floating Rate Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;&nbsp;</B></P></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt"><B>&nbsp;</B></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE SECURITIES TRUST</B>, and its series:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche
        Communications Fund</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">DWS CROCI</FONT>&reg;<FONT STYLE="font-size: 10pt">
        Sector Opportunities Fund</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Enhanced Commodity Strategy Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global Real Estate Securities Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Gold &amp; Precious Metals Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Health and Wellness Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche MLP &amp; Energy Infrastructure Fun</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Real Estate Securities Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Real Estate Securities Income Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Science and Technology Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE STATE TAX-FREE INCOME SERIES, </B>and its series:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche California Tax-Free Income Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Massachusetts Tax-Free Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche New York Tax-Free Income Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE STRATEGIC INCOME TRUST</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE STRATEGIC MUNICIPAL INCOME TRUST</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE TARGET DATE SERIES, </B>and its</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">series:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche LifeCompass 2015 Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche LifeCompass 2020 Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche LifeCompass 2030 Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche LifeCompass 2040 Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche LifeCompass Retirement Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE TAX FREE TRUST, </B>and its series</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Intermediate Tax/AMT Free Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE VALUE SERIES, INC. </B>and its series:</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Deutsche CROCI</FONT>&reg;<FONT STYLE="font-size: 10pt">
        Equity Dividend Fund</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Large Cap Value Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Mid Cap Value Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Small Cap Value Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE VARIABLE SERIES I</B>, and its series</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Bond VIP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Capital Growth VIP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Core Equity VIP</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Deutsche CROCI</FONT>&reg;<FONT STYLE="font-size: 10pt">
        International VIP</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global Small Cap VIP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DEUTSCHE VARIABLE SERIES II</B>, and its series</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Alternative Asset Allocation VIP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global Equity VIP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global Growth VIP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Global Income Builder VIP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Government &amp; Agency Securities VIP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche High Income VIP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Large Cap Value VIP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Money Market VIP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Small Mid Cap Growth VIP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Small Mid Cap Value VIP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Unconstrained Income VIP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>DWS MONEY MARKET TRUST, </B>and its series</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Cash Management Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Cash Reserve Fund Institutional</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Daily Assets Fund Institutional</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Money Market Series</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">NY Tax Free Money Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Tax Free Money Fund Investment</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>INVESTORS CASH TRUST, </B>and its series:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Central Cash Management Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Deutsche Variable NAV Money Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Treasury Portfolio</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>TAX-EXEMPT CALIFORNIA MONEY</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>MARKET FUND</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt"><B>&nbsp;</B></P>


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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 12pt 0 3pt; text-align: center">SCHEDULE B</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 3pt; text-align: center"><FONT STYLE="font-weight: normal">See
Attached</FONT></P>



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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt; font-weight: bold">Schedule B - Fidelity Bond Allocation</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">Based on June assets</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">Gross Assets Under</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">Assets</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; vertical-align: bottom">17(g) -1</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">Annual</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">Management</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">under</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">Trust Method</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">Fidelity Bond</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Investment Company</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">June 30, 2015</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Trust Method</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Calculation</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">%</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Premium (1)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Deutsche Global/International Fund, Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 35%; text-align: left">Deutsche Enhanced Emerging Markets Fixed Income Fund</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">232,231,675</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">600,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">10.26</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">1,247.37</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Enhanced Global Bond Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">159,097,265</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">600,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.26</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,247.37</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche European Equity Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">57,456,611</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">250,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.27</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">519.74</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Global Growth Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">760,863,112</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17.09</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,078.95</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Global Small Cap Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">533,721,317</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15.38</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,871.05</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Global Infrastructure Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,089,891,708</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">42.74</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,197.37</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;&nbsp;&nbsp;Total Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">7,833,261,689</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.49</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12,161.83</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Deutsche Investment Trust</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Capital Growth Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,721,732,021</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24.39</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,966.30</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Core Equity Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,394,758,550</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,100,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34.15</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,152.82</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche CROCI U.S. Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,070,465</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">150,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.44</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">296.63</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Large Cap Focus Growth Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">260,951,632</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">600,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.76</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,186.52</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Mid Cap Growth Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">403,536,846</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">&nbsp;</TD><TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.20</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,483.15</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Small Cap Core Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">97,034,822</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">450,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.32</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">889.89</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Small Cap Growth Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">173,089,761</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">600,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.76</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,186.52</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;&nbsp;&nbsp;Total Trust Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">6,056,174,099</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.49</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12,161.83</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Deutsche Income Trust</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Core Fixed Income Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">228,673,443</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">600,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.32</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">768.12</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Global High Income Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">388,377,193</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.89</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">960.14</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Global Inflation Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">256,455,553</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.89</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">960.14</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche GNMA Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,897,073,760</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15.79</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,920.29</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche High Income Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,225,701,955</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,250,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13.16</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,600.24</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Short Duration Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,651,522,275</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,250,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13.16</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,600.24</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Strategic Government Securities Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,497,607,337</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,250,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13.16</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,600.24</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Ultra-Short Duration Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">684,028,750</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">&nbsp;</TD><TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.47</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,152.17</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Unconstrained Income Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,003,227,707</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,250,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13.16</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,600.24</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;&nbsp;&nbsp;Total Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">8,832,667,971</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.49</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12,161.83</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Deutsche International Fund, Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Emerging Markets Equity Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">79,692,716</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">450,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.78</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,067.87</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Emerging Markets Frontier Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,949,012</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">125,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.44</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">296.63</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Global Equity Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34,466,208</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">300,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.85</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">711.91</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche CROCI International Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,219,027,640</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,300,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44.88</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,457.99</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche International Value Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">81,007,797</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">450,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.78</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,067.87</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Latin America Equity Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">297,210,283</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14.63</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,779.78</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche World Dividend Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">347,195,455</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14.63</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,779.78</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;&nbsp;&nbsp;Total Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">6,061,549,111</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.49</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12,161.83</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Deutsche Municipal Trust</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Managed Municipal Bond Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,159,734,374</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">52.63</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,400.97</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Short-Term Municipal Bond Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">449,357,442</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15.79</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,920.29</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Strategic High Yield Tax-Free Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,584,661,389</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">31.58</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,840.58</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;&nbsp;&nbsp;Total Trust Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">7,193,753,204</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.49</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12,161.83</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Deutsche Target Date Series</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche LifeCompass 2015 Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">70,186,559</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">400,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20.25</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">738.95</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche LifeCompass 2020 Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">147,222,118</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">600,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30.38</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,108.42</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche LifeCompass 2030 Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">45,627,941</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">350,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17.72</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">646.58</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche LifeCompass 2040 Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,604,004</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">225,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11.39</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">415.66</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche LifeCompass Retirement Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">54,351,058</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">400,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20.25</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">738.95</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;&nbsp;&nbsp;Total Trust Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">332,991,679</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.65</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,648.55</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Deutsche Portfolio Trust</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Core Plus Income Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">415,684,899</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34.62</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,199.50</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Floating Rate Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,112,077,338</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,700,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">65.38</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,043.50</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;&nbsp;&nbsp;Total Trust Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">2,527,762,237</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,900,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.17</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9,242.99</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Deutsche Securities Trust</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Communications Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">115,139,578</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">&nbsp;</TD><TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">525,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.22</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">877.66</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche CROCI Sector Opportunities Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">213,488,397</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">600,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.25</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,003.04</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Enhanced Commodity Strategy Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">808,502,116</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">&nbsp;</TD><TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.37</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,504.56</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Global Real Estate Securities Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">796,906,417</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,250,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17.18</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,089.66</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Gold &amp; Precious Metals Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">96,995,861</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">450,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.19</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">752.28</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Health &amp; Wellness Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">424,456,791</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.31</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,253.80</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Real Estate Securities Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,513,483,852</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20.62</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,507.59</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Real Estate Securities Income Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22,608,092</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">300,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.12</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">501.52</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche MLP &amp; Energy Infrastructure Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,731,350</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.37</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">167.17</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Science &amp;Technology Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">704,704,099</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.37</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,504.56</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;&nbsp;&nbsp;Total Trust Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">4,699,016,552</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.49</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12,161.83</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Deutsche Tax Free Trust</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Intermediate Tax/AMT Free Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,947,216,822</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,947,216,822</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.29</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,297.10</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Deutsche Variable Series I</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Bond VIP</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">171,875,247</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">600,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18.46</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,347.16</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Capital Growth VIP</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">953,431,881</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30.77</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,245.26</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Global Small Cap VIP</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">140,551,315</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">525,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16.15</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,178.76</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Core Equity VIP</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">221,532,300</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">600,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18.46</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,347.16</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche CROCI International VIP</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">264,357,807</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">525,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16.15</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,178.76</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;&nbsp;&nbsp;Total Trust Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,751,748,551</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.29</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,297.10</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Deutsche Institutional Funds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Equity 500 Index Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">916,789,003</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30.53</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,525.21</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche S&amp;P 500 Index</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">936,831,833</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30.53</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,525.21</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche EAFE Equity Index Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">289,185,105</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22.90</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,893.90</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche U.S. Bond Index Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">98,476,968</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">525,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16.03</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,325.73</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;&nbsp;&nbsp;Total Trust Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">2,241,282,909</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,700,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.73</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8,270.05</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">DWS&nbsp;&nbsp;Money Market Trust</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Cash Management Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,314,188,832</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,250,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15.87</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,930.45</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Cash Reserve Institutional</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">905,443,895</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.70</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,544.36</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Money Market Series</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,293,624,146</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">31.75</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,860.90</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Tax Free Money Fund Investment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">108,922,913</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">525,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.67</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">810.79</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">NY Tax Free Money Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">32,256,005</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">300,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.81</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">463.31</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Daily Assets Fund Institutional</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,940,994,127</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,300,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">29.21</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,552.03</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;&nbsp;&nbsp;Total Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">19,595,429,919</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.49</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12,161.83</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Cash Reserve Fund Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Prime Series</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">895,253,283</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">895,253,283</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.20</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,864.73</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Deutsche Investments VIT Funds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Equity 500 Index VIP</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">623,227,944</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">54.55</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,653.49</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Small Cap Index VIP</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">369,837,923</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">45.45</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,211.24</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;&nbsp;&nbsp;Total Trust Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">993,065,867</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.20</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,864.73</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Deutsche Market Trust</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Alternative Asset Allocation&nbsp;&nbsp;Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">497,166,101</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20.00</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,848.60</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Diversified Market Neutral Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">131,006,942</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">600,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13.33</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,232.40</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Global Income Builder</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,441,323,921</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">&nbsp;</TD><TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33.33</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,081.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Select Alternative Allocation Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">444,206,537</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20.00</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,848.60</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Strategic Equity Long/Short Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">159,625,691</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">600,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13.33</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,232.40</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;&nbsp;&nbsp;Total Trust Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">2,673,329,191</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,900,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.17</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9,242.99</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Deutsche State Tax-Free Income Series</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche California Tax-Free Income Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">992,549,253</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,250,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">45.45</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,316.86</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Massachusetts Tax-Free Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">497,485,929</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27.27</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,990.12</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche New York Tax-Free Income Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">334,022,716</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27.27</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,990.12</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;&nbsp;&nbsp;Total Trust Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,824,057,898</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.29</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,297.10</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Deutsche Value Series, Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche CROCI Equity Dividend Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,134,661,820</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,250,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28.74</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,494.78</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Large Cap Value Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,495,170,801</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34.48</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,193.74</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Mid Cap Value Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">252,442,313</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">600,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13.79</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,677.49</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Small Cap Value Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">744,280,150</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22.99</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,795.82</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;&nbsp;&nbsp;Total Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">3,626,555,085</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.49</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12,161.83</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Deutsche Variable Series II</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Alternative Asset Allocation VIP</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">114,735,994</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">525,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.54</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">622.92</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Global Equity VIP</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">65,143,660</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">400,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.50</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">474.61</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Global Growth VIP</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">46,499,885</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">350,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.69</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">415.28</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Global Income Builder VIP</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">334,179,554</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.20</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">889.89</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Government &amp; Agency Securities VIP</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">108,666,642</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">525,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.54</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">622.92</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche High Income VIP</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">129,032,091</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">525,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.54</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">622.92</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Large Cap Value VIP</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">421,011,549</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.20</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">889.89</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Money Market VIP</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">162,169,174</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">600,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.76</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">711.91</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Small Mid Cap Growth VIP</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">181,229,226</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">600,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.76</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">711.91</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Small Mid Cap Value VIP</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">227,153,130</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">600,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.76</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">711.91</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Unconstrained Income VIP</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">86,321,741</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">525,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.54</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">622.92</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;&nbsp;&nbsp;Total Trust Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,876,142,646</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.29</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,297.10</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Cash Account Trust</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">CAT Government &amp; Agency Securities Portfolio</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,074,053,806</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,300,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">69.70</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8,476.43</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">CAT Tax-Exempt Portfolio</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,009,901,955</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30.30</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,685.40</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;&nbsp;&nbsp;Total Trust Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">5,083,955,760</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.49</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12,161.83</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Tax-Exempt California Money Market Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">97,307,588</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">97,307,588</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">450,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.99</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,189.13</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Investors Cash Trust</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Central Cash Management Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">997,504,908</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,250,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">32.26</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,923.17</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Variable NAV Money Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">107,289,103</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">525,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13.55</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,647.73</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Treasury Portfolio</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,629,256,003</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,100,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">54.19</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,590.93</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;&nbsp;&nbsp;Total Trust Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">4,734,050,015</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.49</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12,161.83</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Deutsche Money Funds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Money Market Prime Series</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,334,879,083</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,334,879,083</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,250,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.75</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,080.92</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Closed End Funds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Global High Income Fund, Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">96,474,714</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">96,474,714</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">525,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.15</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,553.99</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche High Income Opportunities Fund , Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">341,079,391</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">341,079,391</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.65</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,648.55</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche High Income Trust</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">217,768,654</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">217,768,654</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">600,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.32</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,918.84</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Multi-Market Income Trust</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">312,596,679</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">312,596,679</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">750,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.65</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,648.55</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Municipal Income Trust</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">724,639,683</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">724,639,683</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.98</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,378.26</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Strategic Income Trust</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">82,989,180</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">82,989,180</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">450,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.99</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,189.13</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deutsche Strategic Municipal Income Trust</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">214,715,961</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">214,715,961</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">600,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.32</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,918.84</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: center">TOTALS</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">94,201,715,420</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">94,201,715,420</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">45,525,000</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">100</TD><TD STYLE="font-weight: bold; text-align: left">%</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">221,467.00</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: left">Fidelity Bond Limit = $60,000,000</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD COLSPAN="13" STYLE="text-align: left; vertical-align: bottom">Policy Period - September 30, 2015/September 30, 2016</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="4" STYLE="text-align: left">Premium per $million limit = $3,600</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD COLSPAN="11" STYLE="text-align: left; vertical-align: bottom">Insurance Carrier - ICI Mutual Insurance Company</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="9" STYLE="text-align: left">Deductible = $100,000 (zero for employee dishonesty)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="6" STYLE="text-align: left">(1) Premium includes 2% NY Tax</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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