DWS High Income Fund to change names, investment strategy on Feb. 1

By Toni Weeks

San Diego, Nov. 21 - DWS High Income Fund, previously the DWS High Income Plus Fund, will change its name to DWS Global High Income Fund on Feb. 1, according to a 497K filing with the Securities and Exchange Commission.

In addition, the fund will now invest 65% or more of its total assets in domestic and foreign below-investment-grade debt securities (junk bond category), including those whose issuers are in countries with new or emerging securities markets. Generally, the fund will invest in three or more countries, with 40% or more of its net assets invested in securities of foreign issuers.

In addition, the fund may

• Invest in securities of any credit quality, including debt securities not currently paying interest and securities in default;

• Invest in up to 15% of total assets to buy or sell protection on credit exposure;

• Invest in up to 20% of net assets in common stocks, preferred shares and other equity securities;

• Invest in up to 35% of total assets in cash or money market instruments to maintain liquidity or if portfolio management decides that securities meeting the fund's investment objective are not readily available for purchase;

• Invest in convertible securities and securities on a "when-issued" basis; and

• Engage in short sales.

Currently the fund's principal investment strategy states that it will generally invest at least 65% of net assets, plus the amount of any borrowings for investment purposes, in junk bonds. Furthermore, it may invest up to 50% of total assets in bonds denominated in dollars or foreign currencies from foreign issuers.

The fund's investment adviser is New York-based Deutsche Investment Management Americas Inc.

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