DWS SMALL CAP CORE FUND INSTITUTIONAL CLASS (SZCIX) Exchange: NMFQS

Main investments. Under normal circumstances, the fund invests at least 80% of net assets, plus the amount of any borrowings for investment purposes, in common stocks of small US companies with potential for above-average long-term total return. These companies are similar in size to the companies in the Russell 2000® Index (generally the 2,000 smallest companies out of the 3,000 largest companies in the US). While the market capitalization range of the Russell 2000® Index changes throughout the year, as of December 31, 2017, the market capitalization range of the Russell 2000® Index was between $4 million and $9.4 billion. The Russell 2000® Index is reconstituted annually every June. The fund intends to invest in companies whose market capitalizations fall within the normal range of the Russell 2000® Index. While the fund invests primarily in common stocks, it may invest up to 20% of its total assets in US government securities. The fund may also invest in other types of equity securities such as preferred stocks or convertible securities.While the fund invests mainly in US stocks, it may invest up to 20% of net assets in foreign securities. Management process. Portfolio management uses an active process that combines financial analysis with an assessment of corporate strategy and management quality. Portfolio management focuses on stocks that they believe are undervalued relative to their intrinsic worth. Portfolio management considers various fundamental factors including, but not limited to, free cash flow yield and return on invested capital in seeking to identify undervalued securities.Portfolio management generally seeks companies that it believes have high returns on invested capital, strong corporate governance practices and conservative accounting. Portfolio management prefers companies that demonstrate sustainable and growing cash flows. The fund's portfolio is assembled on a stock-by-stock basis and sector weights are not predetermined by a benchmark.Portfolio management will normally sell a stock when its price reaches portfolio management's expectations or portfolio management believes there has been a deterioration in the company's fundamental value. A stock may also be sold when portfolio management believes that other investments offer better opportunities.Securities Lending. The fund may lend securities (up to one-third of total assets) to approved institutions.