Xtrackers (XSFR) S&P Select Frontier UCITS ETF

The aim is for your investment to reflect the performance of the Solactive Spain 40 Index (Index) which is designed to reflect the performance of the shares of 40 major companies in Spain which are listed on certain Spanish stock exchanges/ In order to be eligible for inclusion in the Index, specific rules are applied to the eligible universe of shares upon rebalancing/ The 60 shares most frequently traded over a 6 month period are identified/ From this, the top 40 highest valued companies are elected for inclusion in the Index, based on the value of a company's readily available shares/ ||The Index is calculated on a total return net basis which means that all dividends and distributions by the companies are reinvested in the shares after tax/ Certain costs are deducted from the Index/ ||To achieve the aim, the Fund will attempt to replicate the Index by buying all (or, on an exceptional basis, a substantial number of) the shares in the Index in the same proportion as the Index as determined by DWS entities/||The Fund may employ techniques and instruments in order to manage risk, reduce costs and improve results/ These techniques and instruments may include the use of derivatives/ The Fund may also engage in secured lending of its investments to certain eligible third parties to generate additional income to offset the costs of the Fund/ ||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 date15 January 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-