Fund Description

The fund was incepted in January 1984 and is managed by Deutsche Investment. The fund seeks to maximize total return. The fund seeks to achieve this objective through a combination of long-term growth of capital and, to a lesser extent, current income. Under normal circumstances, the fund invests at least 80% of its assets in securities of companies in the communications field. The fund is one of the oldest mutual funds focusing primarily on telecommunications stocks In selecting investments, the fund's management team choose companies engaged in communications research, development, manufacturing and/or the sale of communications services, technology, equipment or products. This includes both traditional communications companies and companies that engage in new information-based applications. Portfolio holdings may include common stocks as well as dividend and interest-paying securities of companies in the communications field. Since the fund invests primarily in one industry and in fewer securities than a more diversified portfolio, the fund's value may fluctuate more than a more diversified portfolio and the overall stock market. The fund offers dividends quarterly and capital gains annually.