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Bitte wählen Sie ein Land und eine Rolle.

Auswahl ÖsterreichSchweizDeutschlandBelgien - EnglischDänemark - EnglischSpanien
- EnglischFinnland - EnglischFrankreich - EnglischVereinigtes
KönigreichIrlandItalien - EnglischLuxemburgNiederlande - EnglischNorwegen -
EnglischPortugal - EnglischSchweden - Englisch Hongkong - EnglischSingapurTaiwan
- Englisch USA
Deutschland

RETAIL

INSTITUTIONAL

ANDERES LAND

Produktsuche

Geben Sie bitte eine gültige ISIN ein

ANDERES LAND

Ich habe in dieses Produkt investiert
Ich habe nicht in dieses Produkt investiert

CROCI TERMS AND CONDITIONS

Website retail disclaimer:

CROCI is now part of DWS and is no longer classified as independent investment
research. The views in any marketing material provided are exclusively those of
the authors.

THIS WEBSITE IS PROVIDED DWS INVESTMENTS UK LIMITED ON ITS OWN BEHALF AND ON
BEHALF OF ANY OF ITS AFFILIATES FROM TIME TO TIME (TOGETHER "DWS") WHICH MAY BE
RESPONSIBLE FOR THE WEBSITE'S CONTENT AND ANY OF THE GOODS AND SERVICES
(INCLUDING FINANCIAL INSTRUMENTS) DESCRIBED OR PROVIDED THROUGH IT (TOGETHER THE
"WEBSITE"). THE REGISTERED OFFICE OF DWS INVESTMENTS UK LIMITED IS WINCHESTER
HOUSE, 1 GREAT WINCHESTER STREET, LONDON EC2N 2DB. IF YOU HAVE ANY COMMENTS
ABOUT THE WEBSITE PLEASE CONTACT US AT CROCI.VALUATION@DWS.COM. DWS INVESTMENTS
UK LIMITED (REGISTERED NUMBER 05233891) IS AUTHORISED AND REGULATED IN THE
UNITED KINGDOM BY THE FINANCIAL CONDUCT AUTHORITY (THE "FCA") WITH FCA
REGISTERED NUMBER 429806, UNDER THE FINANCIAL SERVICES AND MARKETS ACT 2000 TO
CONDUCT REGULATED INVESTMENT ACTIVITIES IN THE UNITED KINGDOM.

1. No offer
Nothing contained on this Website should be considered as an offer or
solicitation to enter into any transaction or to purchase, sell or hold any
investment, or to effect any transaction or conclude any other legal act
whatsoever. Pricing levels and valuations published on the Website are
indicative and they and other information displayed thereon are for information
purposes only.

2. No investment advice or recommendation
Although this Website may include investment-related information, information
made available on this Website should not be considered as legal, tax,
investment or securities advice or any form of recommendation to purchase, sell
or hold any products or services described therein, or any opinion regarding the
appropriateness or suitability of any investment. The information contained on
this Website is for purely information purposes. No information on the Website
shall be deemed to constitute any recommendation (personal or non-personal) or
suggestion of any investment strategies, financial instruments or issuers of
financial instruments to any member of the public or an opinion as to the
present or future value thereof. Any investment decisions should be made
following the receipt of appropriate financial, tax, accounting, legal and other
professional advice and following checks as to the accuracy of all relevant
information, and not on the basis of anything on this Website alone.

3. Decisiveness of offering circular, prospectus or securities statement
In respect of any investment, an offering circular, prospectus or securities
should be available. Users should carefully read the information contained
therein before making any investment decision, including the risk factors set
out in any such document.

4. Historical and future performance
Past performance information (either actual or simulated) contained on this
Website is not indicative of future results and DWS does not guarantee future
performance. The value of an investment in any investment may go up as well down
so that an investor's investment may be more or less than the original
investment amount at maturity.

5. No representations or warranties for contents
Although reasonable efforts have been used to ensure that the information set
out on this Website is reliable, no representation or warranty is made as to its
accuracy, completeness, fitness for any purpose and adequacy and DWS bears no
responsibility for the rectification of errors or omissions which may occur from
time to time. Any opinions expressed reflect the current view of DWS which may
change without notice. The use of any information set out in this Website is
entirely at the recipient's own risk. The information and opinions contained on
this Website are provided without any express or implied warranty. DWS does not
take any responsibility for any information contained on this Website provided
by third parties.

6. Use of the Website
1. The User must not use, exploit, download, reproduce or disseminate the
content of the Website, including but not limited to any investment-related
information, data, methodologies or strategies, for any commercial purpose
without the express written consent of DWS. Any use of the content of the
Website to create, develop, tailor, amend, inform, adjust or track an investment
strategy, whether acting on own account or on behalf of a third party, is
explicitly prohibited and any investment products, including investment funds
and derivatives, relating to, containing, using or referencing any content
published on the Website require a license from DWS.
2. Changes to the Website
DWS grants you a limited right to use the Website. Your right to use the Website
is subject to your agreement to abide by these Terms in their entirety, as well
as any other rules, procedures, policies, terms or conditions that govern all or
any portion of the Website. DWS reserves the right to partly or completely
change the Website at any time and to restrict, interrupt or terminate its
service without any notice.
3. Changes to these Terms
DWS reserves the right to modify or amend these Terms at any time without any
notice. DWS invites you to consult these Terms and Conditions from time to time,
to familiarise yourself with any changes.

7. Limitations on liability
To the fullest extent permitted by law, DWS (and its affiliates, agents or
licensors) excludes all liability whether in contract, tort, negligence,
misrepresentation or otherwise for any loss or damage caused, directly or
indirectly, by your use of the Website or of the information contained on or
provided to you pursuant to your use of the Website (or through links to other
websites owned and operated by third parties or otherwise). DWS disclaims all
conditions, warranties or other terms whether expressed or implied by statute,
custom or usage (including without limitation, warranties as to satisfactory
quality, fitness for purpose or skill and care) relating to the Website and the
information contained in or omitted from the Website. Neither DWS nor any of its
agents or licensors shall be liable for any direct, indirect, incidental,
special or consequential loss or damages (including, without limitation for loss
of profit, business opportunity, loss of goodwill or anticipating savings)
whatsoever, whether in contract, tort, misrepresentation or otherwise arising
from the use of the Website or the information contained on the Website; your
inability to use the Website at any time and any error in the provision of the
Website; unauthorised access to or alteration of the Website or any information
or data transmitted in relation to the Website; any computer virus transmitted
through the Website; third party services outside DWS’ reasonable control
(including, but not limited to, telephone and browser services and your use of
email communications to contact or instruct DWS, and any delay in DWS’ receipt
or confirmation of such a communication, any interception of or changes to such
a communication and any reasonable delay in acting on such a communication),
whether such services are used by you to access the Website or otherwise; your
use of or reliance on other websites to which you have gained access by means of
hyperlinks published on the Website; any inaccurate information, material or
opinions published on the Website (or accessed via the Website) or your reliance
thereon. For the avoidance of doubt this provision shall apply whether or not
the relevant loss or damage arises by reason of DWS’ negligence. However,
nothing in these Terms excludes or restricts DWS’ liability to you for fraud, or
for personal injury or death caused by DWS’ negligence. DWS’ liability is
limited even if it has been advised of the possibility of the damages that you
suffer or if any remedy you have fails of its essential purpose. This disclaimer
of liability applies to any and all damages or injury, including those caused by
any failure of performance, error, omission, interruption, deletion, defect,
delay in operation or transmission, computer virus, communication line failure,
theft, destruction or unauthorized access to, alteration of or use of any asset,
whether for breach of contract, tortious behaviour, negligence or under any
other cause of action. Nothing in these Terms will affect any duty, obligation
or liability owed by DWS under the regulatory systems of any applicable
jurisdiction which cannot be excluded or modified by agreement or notice.

8. Indemnity
You shall indemnify, defend and hold harmless DWS and its agents, employees and
third party sources for any losses, damages, liabilities, expenses or costs
suffered by them as a result of
a. Your use of the Website;
b. Use of the Website by a third party permitted by you who would otherwise not
have access to the Website (the “Third Party Users”);
c. Your or any Third Party Users’ negligence, wilful default or fraud;
d. Any breach of these Terms or any representation, warranty or covenant made or
given by you or any Third Party Users in these Terms; or
e. Your or any Third Party Users’ violation of any applicable law, statute,
ordinance, regulation or of any third party's rights.

9. Copyright
1. Unless stated otherwise, content and design of the Website are the property
of DWS or its licensors and is protected by copyright. Any copying, selling,
publication, reproduction, distribution, re-transmission, sub-licensing,
assignment or other use (including any commercial use) of any portion of the
Website or of its content requires the prior written consent of DWS. In using
this Website you undertake not to reproduce or distribute any information
contained herein in whole or in part nor to disclose any of its contents without
the prior written consent of DWS, who you agree has the benefit of this
undertaking. In relation to the parts of the Website accessible to the general
public, you undertake not to reproduce or distribute any information contained
thereon in whole or in part without acknowledging DWS as the source and owner of
the information. You may not decompose, decompile, reverse engineer, disassemble
or otherwise deconstruct all or any portion of the Website. You may not publish,
broadcast, retransmit, reproduce, repackage, frame, commercially exploit, create
any derivative of or otherwise redistribute all or any portion of the Website
except as explicitly permitted in these Terms. As a visitor to the Website, you
may view the Website and you are welcome to print hard copies of material on it
for your personal, non-commercial use. You may not remove any copyright,
trademark or other proprietary notice or legend contained on (or printed from)
the Website. All other copying or distribution of any part of the Website
whether in electronic, hard copy or other format is prohibited and all other
rights reserved. Any copies must not alter the original content and must
reproduce our copyright notices.
2. DWS or other DWS marks referred to on the Website are trademarks which belong
to DWS or their licensors in Germany or other countries. No visitor may use such
trademarks or other devices without the prior written consent of DWS. Other
product and company names reproduced on the Website may be the trademarks
(registered or otherwise) of the respective owners, and all rights in the
material on any other websites which you may be able to link to from the Website
are owned by third parties.

10. User conduct
You agree not to use the Website in any way that will violate or infringe any
laws or regulations of any jurisdiction or the rights of any person.
You make certain representations and warranties regarding your use of the
Website. You represent and warrant that: (a) you have full authority and all
rights necessary to enter into and fully perform all of your obligations
pursuant to these Terms; (b) you have not and you will not enter into any
agreement or perform any act which might contravene the purposes and/or effects
of these Terms; and (c) you will not delete or damage any of the content
available on the Website, including, without limitation, any information, data,
tools, products, services and other content available on or through the Website.

11. Privacy Policy
Personal data, which are collected when visiting this Website, are processed
according to requirements under English law. Such information may be collected
through "traffic data" and may entail the use of "cookies", "IP addresses" or
other numeric codes used to identify your computer.

DWS may also collect personal data from you through the Website or via email
when you contact us. Such information may be retained and used by us for general
research purposes, to communicate with you to respond to any queries or requests
made by you and for any other reasonable purposes for which you have provided
such information. In addition, we may use such data from time to time to send
you further information relating to DWS’ products or services which we assume
may be of interest to you or any information which you have expressed an
interest in to DWS to your usual contact at DWS or through email or this
Website. You may notify us at any time if you wish to cease receiving this
further information by contacting your usual contact at DWS or by sending an
email requesting this to croci.valuation@dws.com.

As a means of processing and using your personal data for the purposes set out
above, we may transfer such data to DWS affiliates or other selected third
parties located anywhere in the world (who may process, use and similarly
transfer your data) where this is reasonably required or deemed reasonably
appropriate by us in order to provide you with the above information. We may
investigate any complaint or reported violation of our policies. We may report
any activity that we suspect may violate any law or regulation to regulators,
law enforcement officials or other persons or entities that we deem appropriate.
We may issue warnings, suspend or terminate use of the Website, deny access to
all or part of the Website or take any other action that we deem appropriate. We
are committed to protecting your privacy and we implement various security
measures in relation to our processing and transfer of personal data to try to
ensure that your personnel data is kept secure against unauthorised access,
loss, disclosure or destruction.

By clicking on the "Accept" button you confirm that you consent to the uses of
information relating to you set out above and you authorise us to make
available, transfer and disclose such information to third parties in the manner
described above.

You have the right to access the personal information we hold about you; this
service is free of charge.

Please also read the section “Privacy Policy” and “Cookie Information” on the
Website for more information.

12. Safety of Communication
Communications over the Internet and by e-mail cannot be guaranteed to be
secure. There is a risk that information contained within an e-mail
communication and any attachment thereto, including potentially confidential
information, may be intercepted, lost, destroyed or delayed in transmission, or
that information displayed on the Website may be changed or modified through
malicious attacks or "hacking". Although DWS will use reasonable efforts to
minimise such risk, it does not warrant that any communication or e-mail or any
attachments thereto, that are sent out, will be free from viruses, worms or
other harmful components.

13. Hyperlinks
Certain hypertext links on the Website may lead the User to Websites that are
not under the control or charge of DWS. When the User clicks on such a link, he
leaves the Website of DWS and enters the third-party site at its own risk. DWS
is not responsible for any material contained on any other non-DWS website.

14. Governing Law; Jurisdiction
1. Governing Law
These Terms and any non-contractual obligations arising out of or in connection
with them are exclusively governed by and shall be construed in accordance with
English law.
2. Jurisdiction
Each private user who is not a resident of one of the countries for which the
Council Regulation (EC) NO 44/2001 of 22 December 2000 on jurisdiction and the
recognition and enforcement of judgements in civil and commercial matters is
applicable, or which have entered and ratified the Convention on jurisdiction
and enforcement of judgements in civil and commercial matters signed at Lugano
on 16 September 1988, and all commercial users are subject to the exclusive
jurisdiction of the courts of England & Wales in respect of any disputes arising
under these Terms, including a dispute relating to non-contractual obligations
arising out of or in connection with these Terms.

15. Severability
If at any time any provision (or part of any provision) of these Terms is, or
becomes, illegal, invalid or unenforceable in any respect under the law of any
jurisdiction, that shall not affect the legality, validity or enforceability in
that or any other jurisdiction of any other provision (or any other part of this
provision) of these Terms.

16. Selling restrictions
1. The products, if any, described on the Website are not eligible for sale in
all countries and in any event may only be sold to Professional Investors as
described below. The offering circulars referred to on this Website contain
information as to the selling restrictions applicable to any particular product
and the User should read them carefully.
2. In particular, the following restrictions apply:
Residents of the United States of America:
The information set out in the Website is not directed to the United States. US
persons (as defined in Regulation S under the US Securities Act 1933) and
persons resident in the US may not enter the Website. Information from this
Website may not be distributed or redistributed into the United States or into
any jurisdiction where it is not permitted. Any securities described on this
Website have not been and will not be registered under the US Securities Act of
1933 as amended and trading in the securities has not been approved for purposes
of the US Commodities Exchange Act of 1936. The securities may not be offered or
sold in the United States, to US persons or US residents.
The products described on the Website are only offered or sold to persons in any
other jurisdiction, if applicable law permits this.
3. Professional Investors
For the purposes of these Terms, references to an "Professional Investor" shall
include:
a. a person authorised by the FCA to conduct regulated investment activities in
the United Kingdom and a person in another member state of the EU similarly
authorised by a local regulatory body equivalent to the FCA
b. a government, local authority or international organisation
c. any body corporate which satisfies (or is a member of the same group as an
undertaking which satisfies) either of the following size requirements: (i) that
it is a company which has more than 20 members (or is the subsidiary of a parent
undertaking which has more than 20 members), and it has a called up share
capital or net assets of not less than £500,000; or (ii) that it is a company
and it has a called up share capital or net assets of not less than £5 million
d. any unincorporated association or partnership which has net assets of not
less than £5 million
e. a trustee of a trust which has assets (before deducting the amount of its
liabilities) of £10 million or more or has had assets (before deducting the
amount of its liabilities) of £10 million or more at any time during the year
prior to accessing this part of the Website
f. any person whilst acting in the capacity of director, officer or employee of
any of the persons listed at (c), (d) or (e) above where that person's
responsibilities, when acting in that capacity, involve him in the person listed
at (c), (d) or (e) above engaging in investment activity and
g. any other person whose ordinary activities involve him in investing in
investment products for the purposes of a business carried on by it, him or her.
The Website does not facilitate Users to make investments in any products. As a
matter of general policy DWS will not conduct regulated investment activities
with any person as a result of their receiving information from the Website
without obtaining further information to verify that that person is a
Professional Investor.

17. Miscellaneous
A failure to exercise or delay in exercising a right or remedy provided by these
Terms or by law does not constitute a waiver of the right or remedy or a waiver
of other rights or remedies. No single or partial exercise of a right or remedy
provided by these Terms or by law prevents further exercise of the right or
remedy or the exercise of another right or remedy.

DWS may assign, subcontract or transfer all or any of its rights and obligations
under these Terms (including to DWS’ successors or assigns, any of DWS’
affiliates or their successors or assigns) located anywhere in the world without
requiring further consent from you, and upon such assignment, sub-contracting or
transfer, DWS may be relieved of any further obligation to you under them. To
the extent required and at our request, you agree to do anything reasonably
necessary or beneficial to give effect to such assignment, sub-contracting or
transfer. You may not assign, subcontract or transfer these Terms in whole or in
part to any third party without our prior written consent.
A person who is not a party to these Terms (other than an affiliate of DWS or
any other person entitled to indemnification under these Terms) shall have no
right under the U.K. Contract (Rights of Third Parties) Act 1999 to enforce the
terms and conditions of these Terms but this shall not affect any right or
remedy of a third party which exists or is available apart from under that Act.

Important information
Please be advised that to view information on this Website, you must accept
these Terms.
"The information on this Website relating to securities and financial services
has been reviewed exclusively as to compliance with the laws of England & Wales.
In other jurisdictions, the furnishing of any such information may be restricted
by law. The information on this Website is not intended for persons or entities
resident, located or registered in jurisdictions that restrict the distribution
of such material. Consequently, the information on this Website does not
constitute, and may not be used for the purposes of, an offer to acquire or sell
any securities to any person in any jurisdiction:
1. in which any such offer is not authorised;
2. in which DWS is not qualified to make such offer; or
3. in which it is unlawful to make any such offer. In particular, the
information on this Website is not intended to and does not constitute an offer
to acquire or sell securities or collective investment schemes to persons
resident in Italy, Spain and Switzerland. The information on this Website is not
directed at persons resident in Italy, Spain and Switzerland, and must not be
acted upon by such persons. Accordingly, any offer from any such person will not
be accepted.

Anyone accessing this Website from a jurisdiction in which any such restrictions
apply should inform themselves about, and observe, such restrictions. If you are
a person located in any jurisdiction where there are restrictions on the type of
person who may access information on this Website, by double-clicking on the
"ACCEPT" button, you will be undertaking, warranting and representing to DWS
that you are not causing DWS to breach any of those restrictions by your
accessing of those parts of the Website.

The securities referred to on this Website have not been and will not be
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold within the United States except pursuant to any exemption
from, or within the framework of a transaction not subject to, the registration
requirements of the Securities Act.

Therefore, the securities described in this Website may not be sold to U.S.
nationals or US persons or otherwise be transferred to the United States unless
the relevant transaction is not subject to registration requirements under U.S.
law.

DWS shall not be liable for any information contained in or activities conducted
through the Websites of any other companies which are hyperlinked to the Website
of DWS.

Please click here to read our Privacy Notice

Published by DWS Investments UK Limited

CROCI is now part of DWS and is no longer classified as independent investment
research. The views in any marketing material provided are exclusively those of
the authors.

THIS WEBSITE IS PROVIDED BY DEUTSCHE ASSET MANAGEMENT (UK) LIMITED ON ITS OWN
BEHALF AND ON BEHALF OF ANY OF ITS AFFILIATES FROM TIME TO TIME (TOGETHER "DWS")
WHICH MAY BE RESPONSIBLE FOR THE WEBSITE'S CONTENT AND ANY OF THE GOODS AND
SERVICES (INCLUDING FINANCIAL INSTRUMENTS) DESCRIBED OR PROVIDED THROUGH IT
(TOGETHER THE "WEBSITE"). THE REGISTERED OFFICE OF DEUTSCHE ASSET MANAGEMENT
(UK) LIMITED IS WINCHESTER HOUSE, 1 GREAT WINCHESTER STREET, LONDON EC2N 2DB. IF
YOU HAVE ANY COMMENTS ABOUT THE WEBSITE PLEASE CONTACT US AT
CROCI.VALUATION@DWS.COM. DEUTSCHE ASSET MANAGEMENT (UK) LIMITED (REGISTERED
NUMBER 05233891) IS AUTHORISED AND REGULATED IN THE UNITED KINGDOM BY THE
FINANCIAL CONDUCT AUTHORITY (THE "FCA") WITH FCA REGISTERED NUMBER 429806, UNDER
THE FINANCIAL SERVICES AND MARKETS ACT 2000 TO CONDUCT REGULATED INVESTMENT
ACTIVITIES IN THE UNITED KINGDOM.

1. For Professional Investors only
The Website and its content is restricted to Professional Investors (as defined
at 17.3 below) only and is not intended for retail or private investors. Persons
other than Professional Investors should not click on the "ACCEPT" button. By
agreeing to these Terms, the User confirms and acknowledges that it is acting in
its capacity as an Professional Investor or representing an Professional
Investor.

2. No offer
Nothing contained on this Website should be considered as an offer or
solicitation to enter into any transaction or to purchase, sell or hold any
investment, or to effect any transaction or conclude any other legal act
whatsoever. Pricing levels and valuations published on the Website are
indicative and they and other information displayed thereon are for information
purposes only.

3. No investment advice or recommendation
Although this Website may include investment-related information, information
made available on this Website should not be considered as legal, tax,
investment or securities advice or any form of recommendation to purchase, sell
or hold any products or services described therein, or any opinion regarding the
appropriateness or suitability of any investment. The information contained on
this Website is for purely information purposes. No information on the Website
shall be deemed to constitute any recommendation (personal or non-personal) or
suggestion of any investment strategies, financial instruments or issuers of
financial instruments to any member of the public or an opinion as to the
present or future value thereof. Any investment decisions should be made
following the receipt of appropriate financial, tax, accounting, legal and other
professional advice and following checks as to the accuracy of all relevant
information, and not on the basis of anything on this Website alone.

4. Decisiveness of offering circular, prospectus or securities statement
In respect of any investment, an offering circular, prospectus or securities
should be available. Users should carefully read the information contained
therein before making any investment decision, including the risk factors set
out in any such document.

5. Historical and future performance
Past performance information (either actual or simulated) contained on this
Website is not indicative of future results and DWS does not guarantee future
performance. The value of an investment in any investment may go up as well down
so that an investor's investment may be more or less than the original
investment amount at maturity.

6. No representations or warranties for contents
Although reasonable efforts have been used to ensure that the information set
out on this Website is reliable, no representation or warranty is made as to its
accuracy, completeness, fitness for any purpose and adequacy and DWS bears no
responsibility for the rectification of errors or omissions which may occur from
time to time. Any opinions expressed reflect the current view of DWS which may
change without notice. The use of any information set out in this Website is
entirely at the recipient's own risk. The information and opinions contained on
this Website are provided without any express or implied warranty. DWS does not
take any responsibility for any information contained on this Website provided
by third parties.

7. Use of the Website
1. The User must not use, exploit, download, reproduce or disseminate the
content of the Website, including but not limited to any investment-related
information, data, methodologies or strategies, for any commercial purpose
without the express written consent of DWS. Any use of the content of the
Website to create, develop, tailor, amend, inform, adjust or track an investment
strategy, whether acting on own account or on behalf of a third party, is
explicitly prohibited and any investment products, including investment funds
and derivatives, relating to, containing, using or referencing any content
published on the Website require a license from DWS.
2. Changes to the Website
DWS grants you a limited right to use the Website. Your right to use the Website
is subject to your agreement to abide by these Terms in their entirety, as well
as any other rules, procedures, policies, terms or conditions that govern all or
any portion of the Website. DWS reserves the right to partly or completely
change the Website at any time and to restrict, interrupt or terminate its
service without any notice.
3. Changes to these Terms
DWS reserves the right to modify or amend these Terms at any time without any
notice. DWS invites you to consult these Terms and Conditions from time to time,
to familiarise yourself with any changes.

8. Limitations on liability
To the fullest extent permitted by law, DWS (and its affiliates, agents or
licensors) excludes all liability whether in contract, tort, negligence,
misrepresentation or otherwise for any loss or damage caused, directly or
indirectly, by your use of the Website or of the information contained on or
provided to you pursuant to your use of the Website (or through links to other
websites owned and operated by third parties or otherwise). DWS disclaims all
conditions, warranties or other terms whether expressed or implied by statute,
custom or usage (including without limitation, warranties as to satisfactory
quality, fitness for purpose or skill and care) relating to the Website and the
information contained in or omitted from the Website. Neither DWS nor any of its
agents or licensors shall be liable for any direct, indirect, incidental,
special or consequential loss or damages (including, without limitation for loss
of profit, business opportunity, loss of goodwill or anticipating savings)
whatsoever, whether in contract, tort, misrepresentation or otherwise arising
from the use of the Website or the information contained on the Website; your
inability to use the Website at any time and any error in the provision of the
Website; unauthorised access to or alteration of the Website or any information
or data transmitted in relation to the Website; any computer virus transmitted
through the Website; third party services outside DWS' reasonable control
(including, but not limited to, telephone and browser services and your use of
email communications to contact or instruct DWS, and any delay in DWS’ receipt
or confirmation of such a communication, any interception of or changes to such
a communication and any reasonable delay in acting on such a communication),
whether such services are used by you to access the Website or otherwise; your
use of or reliance on other websites to which you have gained access by means of
hyperlinks published on the Website; any inaccurate information, material or
opinions published on the Website (or accessed via the Website) or your reliance
thereon. For the avoidance of doubt this provision shall apply whether or not
the relevant loss or damage arises by reason of DWS’ negligence. However,
nothing in these Terms excludes or restricts DWS’ liability to you for fraud, or
for personal injury or death caused by DWS’ negligence. DWS’ liability is
limited even if it has been advised of the possibility of the damages that you
suffer or if any remedy you have fails of its essential purpose. This disclaimer
of liability applies to any and all damages or injury, including those caused by
any failure of performance, error, omission, interruption, deletion, defect,
delay in operation or transmission, computer virus, communication line failure,
theft, destruction or unauthorized access to, alteration of or use of any asset,
whether for breach of contract, tortious behaviour, negligence or under any
other cause of action. Nothing in these Terms will affect any duty, obligation
or liability owed by DWS under the regulatory systems of any applicable
jurisdiction which cannot be excluded or modified by agreement or notice.

9. Indemnity
You shall indemnify, defend and hold harmless DWS and its agents, employees and
third party sources for any losses, damages, liabilities, expenses or costs
suffered by them as a result of
a. Your use of the Website;
b. Use of the Website by a third party permitted by you who would otherwise not
have access to the Website (the “Third Party Users”);
c. Your or any Third Party Users’ negligence, wilful default or fraud;
d. Any breach of these Terms or any representation, warranty or covenant made or
given by you or any Third Party Users in these Terms; or
e. Your or any Third Party Users’ violation of any applicable law, statute,
ordinance, regulation or of any third party's rights.

10. Copyright
1. Unless stated otherwise, content and design of the Website are the property
of DWS or its licensors and is protected by copyright. Any copying, selling,
publication, reproduction, distribution, re-transmission, sub-licensing,
assignment or other use (including any commercial use) of any portion of the
Website or of its content requires the prior written consent of DWS. In using
this Website you undertake not to reproduce or distribute any information
contained herein in whole or in part nor to disclose any of its contents (except
to your professional advisers) without the prior written consent of DWS, who you
agree has the benefit of this undertaking. In relation to the parts of the
Website accessible to the general public, you undertake not to reproduce or
distribute any information contained thereon in whole or in part without
acknowledging DWS as the source and owner of the information. You may not
decompose, decompile, reverse engineer, disassemble or otherwise deconstruct all
or any portion of the Website. You may not publish, broadcast, retransmit,
reproduce, repackage, frame, commercially exploit, create any derivative of or
otherwise redistribute all or any portion of the Website except as explicitly
permitted in these Terms. As a visitor to the Website, you may view the Website
and you are welcome to print hard copies of material on it for your personal,
non-commercial use. You may not remove any copyright, trademark or other
proprietary notice or legend contained on (or printed from) the Website. All
other copying or distribution of any part of the Website whether in electronic,
hard copy or other format is prohibited and all other rights reserved. Any
copies must not alter the original content and must reproduce our copyright
notices.
2. DWS or other DWS marks referred to on the Website are trademarks which belong
to DWS or their licensors in Germany or other countries. No visitor may use such
trademarks or other devices without the prior written consent of DWS. Other
product and company names reproduced on the Website may be the trademarks
(registered or otherwise) of the respective owners, and all rights in the
material on any other websites which you may be able to link to from the Website
are owned by third parties.

11. User conduct
You agree not to use the Website in any way that will violate or infringe any
laws or regulations of any jurisdiction or the rights of any person.
You make certain representations and warranties regarding your use of the
Website. You represent and warrant that: (a) you have full authority and all
rights necessary to enter into and fully perform all of your obligations
pursuant to these Terms; (b) you have not and you will not enter into any
agreement or perform any act which might contravene the purposes and/or effects
of these Terms; and (c) you will not delete or damage any of the content
available on the Website, including, without limitation, any information, data,
tools, products, services and other content available on or through the Website.

12. Privacy Policy
Personal data, which are collected when visiting this Website, are processed
according to requirements under English law. Such information may be collected
through "traffic data" and may entail the use of "cookies", "IP addresses" or
other numeric codes used to identify your computer.

As a means of processing and using your personal data for the purposes set out
above, we may transfer such data to DWS affiliates or other selected third
parties located anywhere in the world (who may process, use and similarly
transfer your data) where this is reasonably required or deemed reasonably
appropriate by us in order to provide you with the above information.. We may
investigate any complaint or reported violation of our policies. We may report
any activity that we suspect may violate any law or regulation to regulators,
law enforcement officials or other persons or entities that we deem appropriate.
We may issue warnings, suspend or terminate use of the Website, deny access to
all or part of the Website or take any other action that we deem appropriate. We
are committed to protecting your privacy and we implement various security
measures in relation to our processing and transfer of personal data to try to
ensure that your personnel data is kept secure against unauthorised access,
loss, disclosure or destruction.

You have the right to access the personal information we hold about you; this
service is free of charge

Please also read the section “Privacy Policy” and “Cookie Information” on the
Website for more information.

13. Safety of Communication
Communications over the Internet and by e-mail cannot be guaranteed to be
secure. There is a risk that information contained within an e-mail
communication and any attachment thereto, including potentially confidential
information, may be intercepted, lost, destroyed or delayed in transmission, or
that information displayed on the Website may be changed or modified through
malicious attacks or "hacking". Although DWS will use reasonable efforts to
minimise such risk, it does not warrant that any communication or e-mail or any
attachments thereto, that are sent out, will be free from viruses, worms or
other harmful components.

14. Hyperlinks
Certain hypertext links on the Website may lead the User to Websites that are
not under the control or charge of DWS. When the User clicks on such a link, he
leaves the Website of DWS and enters the third-party site at its own risk. DWS
is not responsible for any material contained on any other non-DWS website.

15. Governing Law; Jurisdiction
1. Governing Law
These Terms and any non-contractual obligations arising out of or in connection
with them are exclusively governed by and shall be construed in accordance with
English law.
2. Jurisdiction
Each private user who is not a resident of one of the countries for which the
Council Regulation (EC) NO 44/2001 of 22 December 2000 on jurisdiction and the
recognition and enforcement of judgements in civil and commercial matters is
applicable, or which have entered and ratified the Convention on jurisdiction
and enforcement of judgements in civil and commercial matters signed at Lugano
on 16 September 1988, and all commercial users are subject to the exclusive
jurisdiction of the courts of England & Wales in respect of any disputes arising
under these Terms, including a dispute relating to non-contractual obligations
arising out of or in connection with these Terms.

16. Severability
If at any time any provision (or part of any provision) of these Terms is, or
becomes, illegal, invalid or unenforceable in any respect under the law of any
jurisdiction, that shall not affect the legality, validity or enforceability in
that or any other jurisdiction of any other provision (or any other part of this
provision) of these Terms.

17. Selling restrictions
1. The products, if any, described on the Website are not eligible for sale in
all countries and in any event may only be sold to Professional Investors as
described below. The offering circulars referred to on this Website contain
information as to the selling restrictions applicable to any particular product
and the User should read them carefully.
2. In particular, the following restrictions apply:
Residents of the United States of America:
The information set out in the Website is not directed to the United States. US
persons (as defined in Regulation S under the US Securities Act 1933) and
persons resident in the US may not enter the Website. Information from this
Website may not be distributed or redistributed into the United States or into
any jurisdiction where it is not permitted. Any securities described on this
Website have not been and will not be registered under the US Securities Act of
1933 as amended and trading in the securities has not been approved for purposes
of the US Commodities Exchange Act of 1936. The securities may not be offered or
sold in the United States, to US persons or US residents.
The products described on the Website are only offered or sold to persons in any
other jurisdiction, if applicable law permits this.
3. Professional Investors
For the purposes of these Terms, references to an "Professional Investor" shall
include:
a. a person authorised by the FCA to conduct regulated investment activities in
the United Kingdom and a person in another member state of the EU similarly
authorised by a local regulatory body equivalent to the FCA
b. a government, local authority or international organisation
c. any body corporate which satisfies (or is a member of the same group as an
undertaking which satisfies) either of the following size requirements: (i) that
it is a company which has more than 20 members (or is the subsidiary of a parent
undertaking which has more than 20 members), and it has a called up share
capital or net assets of not less than £500,000; or (ii) that it is a company
and it has a called up share capital or net assets of not less than £5 million
d. any unincorporated association or partnership which has net assets of not
less than £5 million
e. a trustee of a trust which has assets (before deducting the amount of its
liabilities) of £10 million or more or has had assets (before deducting the
amount of its liabilities) of £10 million or more at any time during the year
prior to accessing this part of the Website
f. any person whilst acting in the capacity of director, officer or employee of
any of the persons listed at (c), (d) or (e) above where that person's
responsibilities, when acting in that capacity, involve him in the person listed
at (c), (d) or (e) above engaging in investment activity and
g. any other person whose ordinary activities involve him in investing in
investment products for the purposes of a business carried on by it, him or her.
In accessing the Website you will be undertaking, warranting and representing to
DWS that you are an Professional Investor. Please note that DWS will be acting
in reliance upon your undertaking, warranty and representation and you shall
indemnify us and hold us harmless against all claims liabilities, losses,
damages, costs and expenses incurred or suffered by us by reason of any breach
of such undertaking, warranty and representation.
The Website does not facilitate Users to make investments in any products. As a
matter of general policy DWS will not conduct regulated investment activities
with any person as a result of their receiving information from the Website
without obtaining further information to verify that that person is an
Professional Investor.

18. Miscellaneous
A failure to exercise or delay in exercising a right or remedy provided by these
Terms or by law does not constitute a waiver of the right or remedy or a waiver
of other rights or remedies. No single or partial exercise of a right or remedy
provided by these Terms or by law prevents further exercise of the right or
remedy or the exercise of another right or remedy.

DWS shall not be liable for any information contained in or activities conducted
through the Websites of any other companies which are hyperlinked to the Website
of DWS.

Please click here to read our Privacy Notice

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COOKIES POLICY

We use cookies and similar technologies that are essential to operate our
websites. With your consent, we will use cookies for performance analysis of
our websites. This enables us to detect and fix errors and usability issues as
soon as possible and to constantly improve our website. Furthermore we use
marketing cookies to measure the success of our marketing measures and
personalize our contents to your needs as precisely as possible, potentially
also outside of our websites. In the settings you can find detailed information
on the different types of cookies and object to the use of cookies. As an asset
manager, the security of your data is highest priority to us. You can find
further information in our privacy notice.

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