Fund Description

The fund was incepted in March 1995. Under the supervision of a Board of Trustees, Deutsche Investment Management Americas Inc. acts as the investment advisor for the fund. The fund seeks a high level of income exempt from regular federal income tax, consistent with the preservation of capital. The fund seeks to achieve its investment objective by investing primarily in investment grade short-term municipal securities. Municipal securities are debt securities issued by states and certain other municipal issuers, political subdivisions, agencies and public authorities that pay interest, which is exempt from federal income tax. The fund's advisors focus on individual security selection rather than rely on interest rate forecasting. The fund distributes dividends monthly and capital gains annually.