Xtrackers (XUKS) FTSE 100 Short Daily UCITS ETF

The aim is for your investment to reflect the performance of the FTSE 100 Daily Short Index (Index) which provides the opposite performance of the FTSE 100 Total Return Declared Dividend Index (Underlying Index) on a daily basis plus a rate of interest and minus borrowing costs/ This means that the level of the Index should rise when the Underlying Index falls and fall when the Underlying Index rises on a daily basis/ The interest rate added to the Index level is based on double the rate at which banks in London lend to each other on an overnight basis (as calculated by the Wholesale Market Brokers’ Association)/ The Underlying Index reflects the performance of the shares of the largest 100 UK companies listed on the London Stock Exchange/ The companies are selected on the basis that they have the largest combined value of shares as compared to other companies on the stock exchange/ The Index is calculated on a gross total return basis which means that all dividends and distributions are reinvested in the shares/ The composition of the Underlying Index is reviewed quarterly/ ||To achieve the aim, the Fund will enter into financial contracts (derivatives) with one or more swap counterparties to swap most subscription proceeds for the return on the Index/ ||No dividends will be paid on your shares/ ||You may redeem your shares on demand on a daily basis/

• Leverage100
• Currency hedgingNo

• Value Assessment review date02 June 2008
• Value Assessment next review date -
• Is Assessment of Value required under COLL?No
• Outcome of COLL Assessment of Value -
• Outcome of PRIN Value Assessment or review -
• Other review related to value and or chargesFund costs have been reviewed and are in line with ESMA's briefing on supervision of costs in UCITS and AIFs or relevant NCA supervisory activity
• Further information-