DWS Funds: Adviser Deutsche Investment may sell mutual fund asset management business

By Toni Weeks

San Diego, March 1 - DWS Funds announced in a 497 filing with the Securities and Exchange Commission that it may be terminating the management agreement with the funds' investment adviser, Deutsche Investment Management Americas Inc., if the adviser's parent company, Deutsche Bank AG, sells a portion of its asset management businesses.

According to the filing, Deutsche Bank AG is in negotiations with Guggenheim Partners for the sale of some of Deutsche Bank's asset management businesses, including its U.S. mutual fund business.

If Deutsche agrees to sell that portion of its investment businesses, DWS Funds will enter into a new investment agreement, which will require approval by fund shareholders.

The funds' investment manager has its headquarters in Baltimore.

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