Deutsche Latin America Equity Fund Total Holdings as of 2016-04-29

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

Cusip/Sedol

Ticker

Security Name

B7FQV64 B7FQV64 B00FM53 B00FM53 344419106 344419106 B037HR3 B037HR3 BG7ZWY7 BG7ZWY7 B23DZG0 B23DZG0 BP40HF4 BP40HF4 399909100 399909100 B0CGYD6 B0CGYD6 2328595 2328595 2516710 2516710 2392545 2392545 BMSK715

RADL3 RADL3 BBDC4 BBDC4 FMX FMX ITUB4 ITUB4 ABEV3 ABEV3 MULT3 MULT3 GLOB GLOB GGAL GGAL LREN3 LREN3 BBAS3 BBAS3 LAME4 LAME4 GRUMA GRUMA GRUPO

RAIA DROGASIL SA RAIA DROGASIL SA BANCO BRADESCO SA PREF BANCO BRADESCO SA PREF FOMENTO ECONOMICO MEX SP ADR FOMENTO ECONOMICO MEX SP ADR ITAU UNIBANCO HOLDING S PREF ITAU UNIBANCO HOLDING S PREF AMBEV SA AMBEV SA MULTIPLAN EMPREENDIMENTOS MULTIPLAN EMPREENDIMENTOS GLOBANT SA GLOBANT SA GRUPO FINANCIERO GALICIA ADR GRUPO FINANCIERO GALICIA ADR LOJAS RENNER S.A. LOJAS RENNER S.A. BANCO DO BRASIL S.A. BANCO DO BRASIL S.A. LOJAS AMERICANAS SA PREF LOJAS AMERICANAS SA PREF GRUMA S.A.B. B GRUMA S.A.B. B GRUPO DE INV SURAMERICANA

Portfolio Principal Amount Weight(%) 3.7996% 1247059 3.7996% 1247059 3.6352% 2535500 3.6352% 2535500 3.4328% 193440 3.4328% 193440 2.9832% 1639500 2.9832% 1639500 2.6619% 2480000 2.6619% 2480000 2.2288% 683000 2.2288% 683000 1.8914% 279933 1.8914% 279933 1.6369% 302000 1.6369% 302000 1.4385% 1251156 1.4385% 1251156 1.4099% 1152000 1.4099% 1152000 1.3999% 1577609 1.3999% 1577609 1.3875% 500000 1.3875% 500000 1.321% 513411

Final Maturity Date

Market Value

Market Price

19957295.15 19957295.15 19094119.36 19094119.36 18030542.4 18030542.4 15669220.03 15669220.03 13981885.59 13981885.59 11706869.23 11706869.23 9934822.17 9934822.17 8597940 8597940 7555865.41 7555865.41 7405893.73 7405893.73 7353080.44 7353080.44 7288145.94 7288145.94 6938741.49

16.0 16.0 7.53 7.53 93.21 93.21 9.55 9.55 5.63 5.63 17.14 17.14 35.49 35.49 28.47 28.47 6.03 6.03 6.42 6.42 4.66 4.66 14.57 14.57 13.51

Coupon Rate

26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59

Cusip/Sedol

Ticker

Security Name

BMSK715 B2RHNV9 B2RHNV9 40052A209 40052A209 B00R3L2 B00R3L2 B7YYJD2 B7YYJD2 B1NXMK6 B1NXMK6 02319V103 02319V103 B8CLHY9 B8CLHY9 B0ZV104 B0ZV104 2036995 2036995 2311454 2311454 2458771 2458771 29244T101 29244T101 B9N3SQ0 B9N3SQ0 2479619 2479619 059460303 059460303 2232878 2232878 BYT25P4

GRUPO GRUPO DE INV SURAMERICANA BVMF3 BM+FBOVESPA SA BVMF3 BM+FBOVESPA SA GRUPO CLARIN GDR CL B REG S GRUPO CLARIN GDR CL B REG S CENCO CENCOSUD SA CENCO CENCOSUD SA INRET INRETAIL PERU CORP INRET INRETAIL PERU CORP IGTA3 IGUATEMI EMP DE SHOPPING IGTA3 IGUATEMI EMP DE SHOPPING ABEV AMBEV SA ADR ABEV AMBEV SA ADR PSG PROSEGUR COMP SEGURIDAD PSG PROSEGUR COMP SEGURIDAD GAP B GRUPO AEROPORT DEL PACIFIC B GAP B GRUPO AEROPORT DEL PACIFIC B BRFS3 BRF SA BRFS3 BRF SA ANDIN EMBOTELLADORA ANDINA PREF B ANDIN EMBOTELLADORA ANDINA PREF B ITSA4 ITAUSA INVESTIMENTOS ITAU PR ITSA4 ITAUSA INVESTIMENTOS ITAU PR EOCC EMPRESA NAC ELEC CHIL SP ADR EOCC EMPRESA NAC ELEC CHIL SP ADR BBSE3 BB SEGURIDADE PARTICIPACOES BBSE3 BB SEGURIDADE PARTICIPACOES GFSA3 GAFISA SA GFSA3 GAFISA SA BBD BANCO BRADESCO ADR BBD BANCO BRADESCO ADR BAP CREDICORP LTD BAP CREDICORP LTD ITAUC ITAU CORPBANCA

Portfolio Principal Amount Weight(%) 1.321% 513411 1.301% 1368025 1.301% 1368025 1.2443% 344000 1.2443% 344000 1.2134% 2365574 1.2134% 2365574 1.0842% 335000 1.0842% 335000 1.0715% 725000 1.0715% 725000 1.0323% 970000 1.0323% 970000 0.8041% 729468 0.8041% 729468 0.7819% 435000 0.7819% 435000 0.7725% 283670 0.7725% 283670 0.7648% 1184286 0.7648% 1184286 0.743% 1550000 0.743% 1550000 0.7301% 137700 0.7301% 137700 0.7039% 423860 0.7039% 423860 0.6851% 5334945 0.6851% 5334945 0.6826% 480000 0.6826% 480000 0.625% 22575 0.625% 22575 0.5744% 331497745

Final Maturity Date

Market Value

Market Price

6938741.49 6833661.26 6833661.26 6536000 6536000 6373721.24 6373721.24 5695000 5695000 5628407.36 5628407.36 5422300 5422300 4223508.66 4223508.66 4107363.42 4107363.42 4058025.44 4058025.44 4017080.9 4017080.9 3902885.8 3902885.8 3834945 3834945 3697259.58 3697259.58 3598770.78 3598770.78 3585600 3585600 3282856.5 3282856.5 3017059.74

13.51 4.99 4.99 19.0 19.0 2.69 2.69 17.0 17.0 7.76 7.76 5.59 5.59 5.78 5.78 9.44 9.44 14.3 14.3 3.39 3.39 2.51 2.51 27.85 27.85 8.72 8.72 0.67 0.67 7.47 7.47 145.42 145.42 0.0

Coupon Rate

60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93

Cusip/Sedol

Ticker

Security Name

BYT25P4 B1RYG58 B1RYG58 10552T107 10552T107 03524A108 03524A108 B1KFX13 B1KFX13 29274F104 29274F104 2242059 2242059 BZ8W2L7 BZ8W2L7 2112107 2112107 29261D104 29261D104 29278D105 29278D105 981DNHII5 981DNHII5 CASHCLP CASHCLP B1LH3Y1 B1LH3Y1 BRJ66N2 BRJ66N2 2523367 2523367 2299356 2299356 2299453

ITAUC BRML3 BRML3 BRFS BRFS BUD BUD OMA B OMA B ENIA ENIA FEMSA FEMSA TIET1 TIET1 FRAGU FRAGU EOCA EOCA ENIC ENIC

ITAU CORPBANCA BR MALLS PARTICIPACOES SA BR MALLS PARTICIPACOES SA BRF SA ADR BRF SA ADR ANHEUSER BUSCH INBEV SPN ADR ANHEUSER BUSCH INBEV SPN ADR GRUPO AEROPORTUARIO DEL CENT GRUPO AEROPORTUARIO DEL CENT ENERSIS AMERICAS SPONS ADR ENERSIS AMERICAS SPONS ADR FOMENTO ECONOMICO MEXICA UBD FOMENTO ECONOMICO MEXICA UBD AES TIETE ENERGIA SA UNIT AES TIETE ENERGIA SA UNIT CORPORATIVO FRAGUA SAB DE CV CORPORATIVO FRAGUA SAB DE CV ENDESA AMERICAS SA ADR ENDESA AMERICAS SA ADR ENERSIS CHILE SA ENERSIS CHILE SA CENTRAL CASH MANAGEMENT FD CENTRAL CASH MANAGEMENT FD CASH Chilean Peso CASH Chilean Peso B2W CIA DIGITAL B2W CIA DIGITAL OURO FINO SAUDE ANIMAL PARTI OURO FINO SAUDE ANIMAL PARTI LOJAS AMERICANAS SA LOJAS AMERICANAS SA EMPRESA NACIONAL DE ELECTRIC EMPRESA NACIONAL DE ELECTRIC ENERSIS AMERICAS SA

BTOW3 BTOW3 OFSA3 OFSA3 LAME3 LAME3 ENDES ENDES ENERS

Portfolio Principal Amount Weight(%) 0.5744% 331497745 0.5156% 550240 0.5156% 550240 0.5062% 187000 0.5062% 187000 0.4964% 21000 0.4964% 21000 0.4857% 440000 0.4857% 440000 0.4807% 295000 0.4807% 295000 0.4614% 260000 0.4614% 260000 0.4603% 589000 0.4603% 589000 0.4274% 176000 0.4274% 176000 0.3704% 137700 0.3704% 137700 0.3577% 295000 0.3577% 295000 0.3269% 1717351 0.3269% 1717351 0.2681% 0.2681% 0.2529% 333527 0.2529% 333527 0.1109% 43572 0.1109% 43572 0.1041% 170000 0.1041% 170000 0.0708% 400000 0.0708% 400000 0.0656% 2000000

Final Maturity Date

12/01/2050 12/01/2050

Market Value

Market Price

3017059.74 2708603.1 2708603.1 2659140 2659140 2607780 2607780 2551310.26 2551310.26 2525200 2525200 2423693.59 2423693.59 2418166.75 2418166.75 2245286.01 2245286.01 1945701 1945701 1879150 1879150 1717351.76 1717351.76 1408519.48 1408519.48 1328580.33 1328580.33 582775.9 582775.9 547183.25 547183.25 372346.46 372346.46 344859.42

0.0 4.92 4.92 14.22 14.22 124.18 124.18 5.79 5.79 8.56 8.56 9.32 9.32 4.1 4.1 12.75 12.75 14.13 14.13 6.37 6.37 100.0 100.0

3.98 3.98 13.37 13.37 3.21 3.21 0.93 0.93 0.17

Coupon Rate

94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112

Cusip/Sedol

Ticker

Security Name

2299453 CASHBRL CASHBRL BYMLZD6 BYMLZD6 BYMLZC5 BYMLZC5 B3CSXPII9 B3CSXPII9 CASHCOP CASHCOP CASHARS CASHARS CASHEUR CASHEUR CASHGBP CASHGBP CASHMXN CASHMXN

ENERS ENERSIS AMERICAS SA CASH Brazilian Real CASH Brazilian Real ENERS ENERSIS CHILE SA ENERS ENERSIS CHILE SA ENDES ENDESA AMERICAS SA ENDES ENDESA AMERICAS SA TOTVS SA UNIT TOTVS SA UNIT CASH Colombian Peso CASH Colombian Peso CASH Argentina Peso CASH Argentina Peso CASH Euro CASH Euro CASH Pound Sterling CASH Pound Sterling CASH New Mexican Peso CASH New Mexican Peso

Portfolio Principal Amount Weight(%) 0.0656% 2000000 0.0523% 0.0523% 0.0464% 2000000 0.0464% 2000000 0.0359% 400000 0.0359% 400000 0.0214% 43800 0.0214% 43800 0.0208% 0.0208% 0.0195% 0.0195% 0.0071% 0.0071% 2.0E-4% 2.0E-4% -0.0083% -0.0083%

Final Maturity Date

08/19/2019 08/19/2019

Market Value

Market Price

344859.42 274722.63 274722.63 243932.34 243932.34 188885.61 188885.61 112589.53 112589.53 109705.95 109705.95 102439.71 102439.71 37594.89 37594.89 1112.83 1112.83 -44119.16 -44119.16

0.17

Coupon Rate

0.12 0.12 0.47 0.47 257.05 257.05

Portfolio holdings are subject to change. Percentage (%) of market value refers to all securities in the portfolio. Because different calculation methods are used, the portfolio holdings information below may be different for the same period contained in the fund's annual and semiannual shareholder reports or first and third quarter reports filed with the Securities and Exchange Commission on Form N-Q. Additionally, this data may differ from any holdings information found on firms marketing materials. OBTAIN AN OPEN-END OR VIP PROSPECTUS To obtain a summary prospectus, if available, or prospectus, download one from deutschefunds.com, talk to your financial representative or call (800) 728-3337. We advise you to carefully consider the product's objectives, risks, charges and expenses before investing. The summary prospectus and prospectus contain this and other important information about the investment product. Please read the prospectus carefully before you invest.

Deutsche Asset Management is the brand name of the Asset Management division of the Deutsche Bank Group. The respective legal entities offering products or services under the Deutsche Asset Management brand are specified in the respective contracts, sales materials and other product information documents. Deutsche AM Distributors, Inc. 222 South Riverside Plaza Chicago, IL 60606-5808 deutschefunds.com e-mail [email protected] Tel (800) 621-1148 TDD (800) 972-3006 NOT FDIC INSURED MAY LOSE VALUE NO BANK GUARANTEE NOT A DEPOSIT NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY R-5024-8 (6/16)