UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM N-CSRS
Investment Company Act file number: 811-02527
Deutsche DWS Money Funds
(Exact Name of Registrant as Specified in Charter)
875 Third Avenue
New York, NY 10022-6225
(Address of Principal Executive Offices) (Zip Code)
Registrant’s Telephone Number, including Area Code: (212) 454-4500
Diane Kenneally
100 Summer Street
Boston, MA 02110
(Name and Address of Agent for Service)
Date of fiscal year end: | 7/31 |
Date of reporting period: | 1/31/2021 |
ITEM 1. | REPORT TO STOCKHOLDERS |
(a) | |
2 | | DWS Money Market Prime Series |
DWS Money Market Prime Series | | 3 |
Hepsen Uzcan President, DWS Funds |
4 | | DWS Money Market Prime Series |
Portfolio Summary | (Unaudited) |
Asset Allocation (As a % of Investment Portfolio) | 1/31/21 | 7/31/20 |
Commercial Paper | 41% | 41% |
Variable Rate Demand Notes | 26% | 30% |
Repurchase Agreements | 14% | 10% |
Certificates of Deposit and Bank Notes | 13% | 13% |
Variable Rate Demand Preferred Shares | 4% | 4% |
Corporate Bonds | 2% | 1% |
Government & Agency Obligations | — | 1% |
100% | 100% |
Weighted Average Maturity | 1/31/21 | 7/31/20 |
DWS Money Market Prime Series | 33 days | 36 days |
iMoneyNet Money Fund Average™ — First Tier Retail* | 40 days | 41 days |
* | The Fund is compared to its respective iMoneyNet Money Fund Average category: First Tier Retail — Category includes retail funds that may invest in certificates of deposit, time deposits, bankers’ acceptances and other short term obligations issued by domestic banks, foreign subsidiaries or foreign branches of domestic banks, domestic and foreign branches of foreign banks and other banking institutions, commercial paper, floating and variable rate demand notes and bonds, and asset-backed securities. |
DWS Money Market Prime Series | | 5 |
Investment Portfolio | as of January 31, 2021 (Unaudited) |
Principal Amount ($) | Value ($) | ||
Certificates of Deposit and Bank Notes 12.9% | |||
Bank of America NA, 3-month LIBOR plus 0.05%, 0.288% (a), 10/1/2021 | 7,500,000 | 7,500,000 | |
Cooperatieve Rabobank UA, 0.18%, 3/8/2021 | 2,100,000 | 2,099,980 | |
Credit Suisse AG: | |||
SOFR plus 1.3%, 1.34% (a), 3/8/2021 | 10,000,000 | 10,000,000 | |
SOFR plus 1.3%, 1.34% (a), 3/31/2021 | 10,000,000 | 10,000,000 | |
First Abu Dhabi Bank U.S.A NV, 3-month LIBOR plus 0.08%, 0.33% (a), 8/4/2021 | 7,400,000 | 7,400,000 | |
Nordea Bank AB, 3-month LIBOR plus 0.1%, 0.325% (a), 6/7/2021 | 11,500,000 | 11,500,000 | |
Oversea-Chinese Banking Corp., Ltd., 0.21%, 3/1/2021 | 1,100,000 | 1,100,017 | |
Royal Bank of Canada, 3-month LIBOR plus 0.05%, 0.284% (a), 10/8/2021 | 7,000,000 | 7,000,000 | |
Standard Chartered Bank, 0.25%, 2/12/2021 | 7,500,000 | 7,500,000 | |
Toronto-Dominion Bank, 1.3%, 3/2/2021 | 20,000,000 | 20,000,000 | |
Westpac Banking Corp., 3-month LIBOR plus 0.05%, 0.266% (a), 8/3/2021 | 5,000,000 | 5,001,053 | |
Total Certificates of Deposit and Bank Notes (Cost $89,101,050) | 89,101,050 | ||
Commercial Paper 41.1% | |||
Issued at Discount (b) 25.8% | |||
Alinghi Funding Co., 144A, 0.294%, 10/22/2021 | 7,200,000 | 7,184,746 | |
Barclays Bank PLC, 144A, 0.355%, 2/12/2021 | 9,500,000 | 9,498,984 | |
Barton Capital Corp., 144A, 0.264%, 2/8/2021 | 12,000,000 | 11,999,393 | |
BNZ International Funding Ltd., 144A, 0.243%, 6/9/2021 | 10,000,000 | 9,991,467 | |
Citigroup Global Markets, Inc., 144A, 0.253%, 6/15/2021 | 7,000,000 | 6,993,486 | |
Collateralized Commercial Paper Co.: | |||
0.264%, 7/19/2021 | 7,500,000 | 7,490,900 | |
0.274%, 5/28/2021 | 8,750,000 | 8,742,387 | |
DBS Bank Ltd., 144A, 0.208%, 3/2/2021 | 9,550,000 | 9,548,423 | |
FMS Wertmanagement, 144A, 0.203%, 3/3/2021 | 8,000,000 | 7,998,667 | |
Goldman Sachs International: | |||
144A, 0.253%, 5/21/2021 | 14,500,000 | 14,489,024 | |
144A, 0.304%, 10/12/2021 | 10,000,000 | 9,978,917 | |
ING U.S. Funding LLC, 0.507%, 2/1/2021 | 7,000,000 | 7,000,000 | |
Ionic Capital II, 0.294%, 2/18/2021 | 7,500,000 | 7,498,973 | |
Kreditanstalt Fuer Wiederaufbau, 144A, 0.806%, 3/1/2021 | 10,000,000 | 9,993,817 |
6 | | DWS Money Market Prime Series |
Principal Amount ($) | Value ($) | ||
LVMH Moet Hennessy Louis Vuitton SE, 144A, 0.274%, 6/18/2021 | 5,000,000 | 4,994,862 | |
Macquarie Bank Ltd., 144A, 0.248%, 3/2/2021 | 7,500,000 | 7,498,520 | |
Matchpoint Finance PLC, 144A, 0.243%, 2/10/2021 | 5,035,000 | 5,034,698 | |
Mont Blanc Capital Corp., 144A, 0.132%, 2/5/2021 | 500,000 | 499,993 | |
Nationwide Building Society, 144A, 0.167%, 2/12/2021 | 12,000,000 | 11,999,395 | |
Shell International Finance BV, 144A, 0.269%, 10/1/2021 | 10,000,000 | 9,982,186 | |
Starbird Funding Corp., 144A, 0.243%, 5/11/2021 | 5,000,000 | 4,996,700 | |
Toyota Motor Credit, 0.284%, 3/22/2021 | 5,000,000 | 4,998,094 | |
178,413,632 | |||
Issued at Par (a) 15.3% | |||
Bedford Row Funding Corp., 144A, FEDL01 plus 0.16%, 0.25%, 2/10/2021 | 7,500,000 | 7,500,000 | |
Collateralized Commercial Paper Flex Co. LLC, 144A, 1-month LIBOR plus 0.15%, 0.294%, 2/24/2021 | 10,000,000 | 10,000,000 | |
DNB Bank ASA, 144A, 1-month LIBOR plus 0.11%, 0.243%, 2/9/2021 | 8,500,000 | 8,500,000 | |
HSBC Bank PLC, 144A, 3-month LIBOR plus 0.16%, 0.399%, 3/17/2021 | 7,500,000 | 7,500,000 | |
National Australia Bank Ltd.: | |||
144A, SOFR plus 0.15%, 0.19%, 1/27/2022 | 10,000,000 | 10,000,000 | |
144A, 3-month LIBOR plus 0.02%, 0.241%, 8/13/2021 | 5,000,000 | 5,000,249 | |
144A, 3-month LIBOR plus 0.06%, 0.274%, 11/10/2021 | 5,000,000 | 4,999,929 | |
Oversea-Chinese Banking Corp., Ltd., SOFR plus 0.17%, 0.21%, 10/7/2021 | 10,000,000 | 10,000,000 | |
Thunder Bay Funding LLC, 144A, FEDL01 plus 0.16%, 0.23%, 6/14/2021 | 12,500,000 | 12,500,000 | |
UBS AG, 144A, 3-month LIBOR plus 0.1%, 0.332%, 11/5/2021 | 7,000,000 | 7,000,000 | |
United Overseas Bank Ltd.: | |||
144A, 1-month LIBOR plus 0.05%, 0.18%, 5/25/2021 | 10,000,000 | 10,000,000 | |
144A, 1-month LIBOR plus 0.09%, 0.211%, 6/29/2021 | 12,500,000 | 12,500,000 | |
105,500,178 | |||
Total Commercial Paper (Cost $283,913,810) | 283,913,810 | ||
Variable Rate Demand Notes (c) 25.9% | |||
Alaska, State Housing Finance Corp., Series B, 0.15%, 2/4/2021 | 25,800,000 | 25,800,000 | |
Broward County, FL, Housing Finance Authority, Multi-Family Housing Revenue, Series A, AMT, 0.08%, 2/4/2021, LOC: Fannie Mae, LIQ: Fannie Mae | 820,000 | 820,000 |
DWS Money Market Prime Series | | 7 |
Principal Amount ($) | Value ($) | ||
California, ABAG Finance Authority For Nonprofit Corp., Sharp Healthcare Obligated Group, Series A, 0.04%, 2/4/2021, LOC: Bank of America NA | 250,000 | 250,000 | |
California, State General Obligation, Series A-1, 0.01%, 2/4/2021, LOC: Citibank NA | 350,000 | 350,000 | |
California, University of California Revenue, Series Z-2, 0.09%, 2/4/2021 | 25,000,000 | 25,000,000 | |
Chicago, IL, International Airport Authority, Gary Jet Center Project, Series 2011, AMT, 0.08%, 5/1/2036, LOC: BMO Harris Bank NA | 2,330,000 | 2,330,000 | |
Clark County, NV, Airport Systems Revenue, Series D-1, 0.05%, 2/4/2021, LOC: Sumitomo Mitsui Banking | 2,000,000 | 2,000,000 | |
Colorado, State Housing & Finance Authority, Multi-Family Housing Project, "I", Series A-2, 0.1%, 2/4/2021, SPA: Federal Home Loan Bank | 15,000,000 | 15,000,000 | |
District of Columbia, Georgetown University Revenue, Series B-2, 0.03%, 2/4/2021, LOC: Bank of America NA | 525,000 | 525,000 | |
Hillsborough County, FL, Housing Finance Authority Multi-Family Revenue, Claymore Crossings Apartments, AMT, 0.08%, 2/4/2021, LOC: Citibank NA | 475,000 | 475,000 | |
Iowa, Finance Authority, Educational Facility Revenue, Holy Family Catholic School Project, 0.01%, 2/1/2021, LOC: U.S. Bank NA | 1,200,000 | 1,200,000 | |
Issaquah Gateway SR Development LLC, Series A, 0.16%, 2/4/2021 | 11,000,000 | 11,000,000 | |
Michigan, State Housing Development Authority Revenue, Series A, AMT, 0.07%, 2/4/2021, LOC: Barclays Bank PLC | 14,765,000 | 14,765,000 | |
New Castle County, DE, Airport Facility Revenue, Flightsafety International, Inc. Project, AMT, 0.07%, 2/4/2021, GTY: Berkshire Hathaway, Inc. | 25,700,000 | 25,700,000 | |
New Jersey, State Health Care Facilities Financing Authority Revenue, AHS Hospital Corp., Series B, 0.04%, 2/4/2021, LOC: Bank of America NA | 950,000 | 950,000 | |
New York, Metropolitan Transportation Authority, Dedicated Tax Fund, Series B-1, 0.04%, 2/4/2021, LOC: Bank Tokyo-Mitsubishi UFJ | 2,185,000 | 2,185,000 | |
New York, Taxable Municipal Funding Trust, Series 2018-4, 144A, 0.16%, 2/4/2021, INS: AGMC, LOC : Barclays Bank PLC | 1,395,000 | 1,395,000 | |
New York, Triborough Bridge & Tunnel Authority Revenue, Series B-1, 0.01%, 2/1/2021, LOC: Bank of America NA | 565,000 | 565,000 | |
New York, NY, General Obligation, Series I-4, 0.01%, 2/1/2021, LOC: TD Bank NA | 1,200,000 | 1,200,000 | |
Oregon, State of Oregon Business Development Commission, Murphy Company Project, AMT, 0.08%, 2/4/2021, LOC: U.S. Bank NA | 3,000,000 | 3,000,000 |
8 | | DWS Money Market Prime Series |
Principal Amount ($) | Value ($) | ||
Philadelphia, PA, General Obligation, Series B, 0.03%, 2/4/2021, LOC: Barclays Bank PLC | 715,000 | 715,000 | |
Port of Portland, OR, Portland International Airport Revenue, Series 18A, AMT, 0.08%, 2/4/2021, LOC: Industrial & Commercial Bank of China | 11,815,000 | 11,815,000 | |
Port of Tacoma, WA, Subordinate Lien Revenue, Series A, AMT, 0.07%, 2/4/2021, LOC: PNC Bank NA | 5,000,000 | 5,000,000 | |
San Francisco City & County, CA, Multi Family Housing Revenue, Transbay Block 8 Tower Apartments, Series H-4, 0.13%, 2/4/2021, LOC: Bank of China Ltd. | 6,245,000 | 6,245,000 | |
San Francisco City & County, CA, Multi-Family Housing Revenue, 1601 Mariposa Apartments, Series B-2, 0.04%, 2/4/2021, LOC: Bank of America NA | 2,200,000 | 2,200,000 | |
Sevier County, TN, Public Building Authority, Local Government Public Improvement Bonds, Series B-1, 0.05%, 2/4/2021, LOC: Bank of America NA | 1,260,000 | 1,260,000 | |
Tarrant County, TX, Cultural Educational Facilities Finance Corp. Revenue, Christus Health Obligated Group, Series C-4, 0.03%, 2/4/2021, LOC: Bank of Montreal | 100,000 | 100,000 | |
University of Texas, TX, University Revenue, Financing System, Series G2, 0.09%, 2/4/2021, LIQ: University of Texas Investment Management Co. | 15,350,000 | 15,350,000 | |
Wisconsin, Whitewater Community Development Authority, Housing Preservation, 0.05%, 2/4/2021, LOC: BMO Harris Bank NA | 1,925,000 | 1,925,000 | |
Total Variable Rate Demand Notes (Cost $179,120,000) | 179,120,000 | ||
Variable Rate Demand Preferred Shares (c) 4.0% | |||
California, Nuveen Quality Municipal Income Fund, Series 7, 144A, AMT, 0.11%, LIQ: Royal Bank of Canada, 2/4/2021 | 3,500,000 | 3,500,000 | |
Invesco Dynamic Credit Opportunities Fund, 144A, 0.27%, 2/4/2021 | 20,000,000 | 20,000,000 | |
Invesco Senior Income Trust, 144A, 0.27%, 2/4/2021 | 4,000,000 | 4,000,000 | |
Total Variable Rate Demand Preferred Shares (Cost $27,500,000) | 27,500,000 | ||
Corporate Bonds 1.9% | |||
BNZ International Funding Ltd., 144A, 2.1%, 9/14/2021 | 2,955,000 | 2,987,666 | |
Toyota Motor Credit, SOFR plus 0.23%, 0.27%, 12/13/2021 | 9,960,000 | 9,966,072 | |
Total Corporate Bonds (Cost $12,953,738) | 12,953,738 |
DWS Money Market Prime Series | | 9 |
Principal Amount ($) | Value ($) | ||
Repurchase Agreements 14.3% | |||
BNP Paribas, 0.04%, dated 1/29/2021, to be repurchased at $49,000,054 on 2/1/2021 (d) | 49,000,000 | 49,000,000 | |
Wells Fargo Bank NA, 0.06%, dated 1/29/2021, to be repurchased at $49,400,082 on 2/1/2021 (e) | 49,400,000 | 49,400,000 | |
Total Repurchase Agreements (Cost $98,400,000) | 98,400,000 |
% of Net Assets | Value ($) | ||
Total Investment Portfolio (Cost $690,988,598) | 100.1 | 690,988,598 | |
Other Assets and Liabilities, Net | (0.1) | (958,845) | |
Net Assets | 100.0 | 690,029,753 |
(a) | Floating rate security. These securities are shown at their current rate as of January 31, 2021. |
(b) | Annualized yield at time of purchase; not a coupon rate. |
(c) | Variable rate demand notes are securities whose interest rates are reset periodically (usually daily mode or weekly mode) by remarketing agents based on current market levels, and are not directly set as a fixed spread to a reference rate. These securities may be redeemed at par by the holder at any time, and are shown at their current rates as of January 31, 2021. Date shown reflects the earlier of demand date or stated maturity date. |
(d) | Collateralized by: |
Principal Amount ($) | Security | Rate (%) | Maturity Date | Collateral Value ($) |
49,983,200 | U.S. Treasury Bills | Zero Coupon | 2/4/2021–5/20/2021 | 49,979,596 |
100 | U.S. Treasury Notes | 1.875 | 2/28/2022 | 103 |
300 | U.S. Treasury Inflation-Indexed Bonds | 0.125 | 4/15/2022 | 329 |
Total Collateral Value | 49,980,028 |
10 | | DWS Money Market Prime Series |
(e) | Collateralized by: |
Principal Amount ($) | Security | Rate (%) | Maturity Date | Collateral Value ($) |
6,285,144 | Federal Home Loan Mortgage Corp. | 2.0 | 2/1/2051 | 6,504,964 |
41,039,185 | Federal National Mortgage Association | 2.0–6.0 | 9/1/2027–2/1/2051 | 43,882,961 |
76 | Tennessee Valley Authority Generic Strip | Zero Coupon | 5/1/2023 | 75 |
Total Collateral Value | 50,388,000 |
144A: Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
AGMC: Assured Guaranty Municipal Corp. |
AMT: Subject to alternative minimum tax. |
FEDL01: U.S. Federal Funds Effective Rate |
GTY: Guaranty Agreement |
INS: Insured |
LIBOR: London Interbank Offered Rate |
LIQ: Liquidity Facility |
LOC: Letter of Credit |
SOFR: Secured Overnight Financing Rate |
SPA: Standby Bond Purchase Agreement |
UFJ: United Financial of Japan |
Assets | Level 1 | Level 2 | Level 3 | Total |
Investments in Securities (a) | $— | $592,588,598 | $— | $592,588,598 |
Repurchase Agreements | — | 98,400,000 | — | 98,400,000 |
Total | $ — | $690,988,598 | $ — | $690,988,598 |
(a) | See Investment Portfolio for additional detailed categorizations. |
DWS Money Market Prime Series | | 11 |
Assets | |
Investments in securities, valued at amortized cost | $ 592,588,598 |
Repurchase agreements, valued at amortized cost | 98,400,000 |
Cash | 81,019 |
Receivable for Fund shares sold | 1,074,818 |
Interest receivable | 351,498 |
Other assets | 46,208 |
Total assets | 692,542,141 |
Liabilities | |
Payable for Fund shares redeemed | 2,208,293 |
Distributions payable | 1,122 |
Accrued Trustees' fees | 1,640 |
Other accrued expenses and payables | 301,333 |
Total liabilities | 2,512,388 |
Net assets, at value | $ 690,029,753 |
Net Assets Consist of | |
Distributable earnings (loss) | (101,073) |
Paid-in capital | 690,130,826 |
Net assets, at value | $ 690,029,753 |
Net Asset Value | |
DWS Cash Investment Trust Class A | |
Net Asset Value, offering and redemption price per share ($38,285,627 ÷ 38,258,725 outstanding shares of beneficial interest, no par value, unlimited number of shares authorized) | $ 1.00 |
DWS Cash Investment Trust Class C | |
Net Asset Value, offering and redemption price per share ($5,780,827 ÷ 5,776,727 outstanding shares of beneficial interest, no par value, unlimited number of shares authorized) | $ 1.00 |
DWS Cash Investment Trust Class S | |
Net Asset Value, offering and redemption price per share ($178,278,331 ÷ 178,154,180 outstanding shares of beneficial interest, no par value, unlimited number of shares authorized) | $ 1.00 |
DWS Money Market Fund | |
Net Asset Value, offering and redemption price per share ($467,684,968 ÷ 467,358,756 outstanding shares of beneficial interest, no par value, unlimited number of shares authorized) | $ 1.00 |
12 | | DWS Money Market Prime Series |
Investment Income | |
Income: | |
Interest | $ 1,143,434 |
Expenses: | |
Management fee | 1,047,043 |
Administration fee | 341,255 |
Services to shareholders | 439,612 |
Distribution and service fees | 84,145 |
Custodian fee | 5,950 |
Professional fees | 31,923 |
Reports to shareholders | 42,006 |
Registration fees | 37,242 |
Trustees' fees and expenses | 4,695 |
Other | 24,064 |
Total expenses before expense reductions | 2,057,935 |
Expense reductions | (949,827) |
Total expenses after expense reductions | 1,108,108 |
Net investment income | 35,326 |
Net increase (decrease) in net assets resulting from operations | $ 35,326 |
DWS Money Market Prime Series | | 13 |
Six Months Ended January 31, 2021 | Year Ended July 31, | |
Increase (Decrease) in Net Assets | (Unaudited) | 2020 |
Operations: | ||
Net investment income (loss) | $ 35,326 | $ 7,207,240 |
Net realized gain (loss) | — | (100,291) |
Net increase (decrease) in net assets resulting from operations | 35,326 | 7,106,949 |
Distributions to shareholders: | ||
DWS Cash Investment Trust Class A | (1,995) | (287,682) |
DWS Cash Investment Trust Class C | (338) | (28,423) |
DWS Cash Investment Trust Class S | (8,971) | (1,935,066) |
DWS Money Market Fund | (23,855) | (5,341,894) |
Total distributions | (35,159) | (7,593,065) |
Fund share transactions: | ||
Proceeds from shares sold | 122,876,327 | 254,490,390 |
Reinvestment of distributions | 34,249 | 7,650,562 |
Payments for shares redeemed | (131,252,331) | (269,278,301) |
Net increase (decrease) in net assets from Fund share transactions | (8,341,755) | (7,137,349) |
Increase (decrease) in net assets | (8,341,588) | (7,623,465) |
Net assets at beginning of period | 698,371,341 | 705,994,806 |
Net assets at end of period | $ 690,029,753 | $ 698,371,341 |
14 | | DWS Money Market Prime Series |
DWS Money Market Prime Series — DWS Cash Investment Trust Class A | ||||||
Six Months Ended 1/31/21 | Years Ended July 31, | |||||
(Unaudited) | 2020 | 2019 | 2018 | 2017 | 2016 | |
Selected Per Share Data | ||||||
Net asset value, beginning of period | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 |
Income (loss) from investment operations: | ||||||
Net investment income | .000 * | .008 | .017 | .009 | .002 | .000 * |
Net realized gain (loss) | — | (.000) * | .000 * | (.000) * | .000 * | (.000) * |
Total from investment operations | .000 * | .008 | .017 | .009 | .002 | .000 * |
Less distributions from: | ||||||
Net investment income | (.000) * | (.009) | (.017) | (.009) | (.002) | (.000) * |
Net asset value, end of period | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 |
Total Return (%) | .01 a** | .90 a | 1.71 | .89 | .19 a | .01 a |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 38 | 38 | 31 | 33 | 76 | 110 |
Ratio of expenses before expense reductions (%) | .80 *** | .82 | .82 | .80 | .79 | .81 |
Ratio of expenses after expense reductions (%) | .31 *** | .75 | .82 | .80 | .74 | .44 |
Ratio of net investment income (%) | .01 *** | .78 | 1.69 | .86 | .20 | .01 |
a | Total return would have been lower had certain expenses not been reduced. |
* | Amount is less than $.0005. |
** | Not annualized |
*** | Annualized |
DWS Money Market Prime Series | | 15 |
DWS Money Market Prime Series — DWS Cash Investment Trust Class C | ||||||
Six Months Ended 1/31/21 | Years Ended July 31, | |||||
(Unaudited) | 2020 | 2019 | 2018 | 2017 | 2016 | |
Selected Per Share Data | ||||||
Net asset value, beginning of period | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 |
Income (loss) from investment operations: | ||||||
Net investment income | .000 * | .003 | .010 | .002 | .000 * | .000 * |
Net realized gain | — | (.000) * | .000 * | (.000) * | .000 * | (.000) * |
Total from investment operations | .000 * | .003 | .010 | .002 | .000 * | .000 * |
Less distributions from: | ||||||
Net investment income | (.000) * | (.004) | (.010) | (.002) | (.000) * | (.000) * |
Net asset value, end of period | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 |
Total Return (%) | .01 a** | .39 a | .99 | .23 a | .02 a | .01 a |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 6 | 8 | 8 | 21 | 15 | 28 |
Ratio of expenses before expense reductions (%) | 1.52 *** | 1.54 | 1.54 | 1.54 | 1.52 | 1.47 |
Ratio of expenses after expense reductions (%) | .32 *** | 1.24 | 1.54 | 1.47 | .88 | .45 |
Ratio of net investment income (%) | .01 *** | .33 | .93 | .23 | .01 | .01 |
a | Total return would have been lower had certain expenses not been reduced. |
* | Amount is less than $.0005. |
** | Not annualized |
*** | Annualized |
16 | | DWS Money Market Prime Series |
DWS Money Market Prime Series — DWS Cash Investment Trust Class S | ||||||
Six Months Ended 1/31/21 | Years Ended July 31, | |||||
(Unaudited) | 2020 | 2019 | 2018 | 2017 | 2016 | |
Selected Per Share Data | ||||||
Net asset value, beginning of period | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 |
Income (loss) from investment operations: | ||||||
Net investment income | .000 * | .010 | .020 | .011 | .004 | .000 * |
Net realized gain | — | (.000) * | .000 * | (.000) * | .000 * | (.000) * |
Total from investment operations | .000 * | .010 | .020 | .011 | .004 | .000 * |
Less distributions from: | ||||||
Net investment income | (.000) * | (.011) | (.020) | (.011) | (.004) | (.000) * |
Net asset value, end of period | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 |
Total Return (%)a | .01 ** | 1.11 | 1.97 | 1.12 | .36 | .02 |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 178 | 177 | 179 | 181 | 193 | 266 |
Ratio of expenses before expense reductions (%) | .59 *** | .59 | .59 | .60 | .60 | .56 |
Ratio of expenses after expense reductions (%) | .31 *** | .55 | .57 | .57 | .57 | .43 |
Ratio of net investment income (%) | .01 *** | 1.05 | 1.95 | 1.11 | .35 | .02 |
a | Total return would have been lower had certain expenses not been reduced. |
* | Amount is less than $.0005. |
** | Not annualized |
*** | Annualized |
DWS Money Market Prime Series | | 17 |
DWS Money Market Prime Series — DWS Money Market Fund | ||||||
Six Months Ended 1/31/21 | Years Ended July 31, | |||||
(Unaudited) | 2020 | 2019 | 2018 | 2017 | 2016 | |
Selected Per Share Data | ||||||
Net asset value, beginning of period | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 |
Income (loss) from investment operations: | ||||||
Net investment income | .000* | .010 | .020 | .011 | .004 | .000* |
Net realized gain (loss) | — | (.000)* | .000* | (.000)* | .000* | (.000)* |
Total from investment operations | .000* | .010 | .020 | .011 | .004 | .000* |
Less distributions from: | ||||||
Net investment income | (.000)* | (.011) | (.020) | (.011) | (.004) | (.000)* |
Net asset value, end of period | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 | $ 1.00 |
Total Return (%) | .01 a** | 1.11 a | 1.98 | 1.12 a | .38 | .05 a |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 468 | 475 | 488 | 510 | 543 | 687 |
Ratio of expenses before expense reductions (%) | .55 *** | .56 | .55 | .58 | .55 | .50 |
Ratio of expenses after expense reductions (%) | .32 *** | .55 | .55 | .57 | .55 | .41 |
Ratio of net investment income (%) | .01 *** | 1.05 | 1.96 | 1.11 | .37 | .05 |
a | Total return would have been lower had certain expenses not been reduced. |
* | Amount is less than $.0005. |
** | Not annualized |
*** | Annualized |
18 | | DWS Money Market Prime Series |
Notes to Financial Statements | (Unaudited) |
A. | Organization and Significant Accounting Policies |
DWS Money Market Prime Series | | 19 |
20 | | DWS Money Market Prime Series |
B. | Related Parties |
DWS Money Market Prime Series | | 21 |
First $215 million of the Fund's average daily net assets | .400% |
Next $335 million of such net assets | .275% |
Next $250 million of such net assets | .200% |
Next $800 million of such net assets | .150% |
Next $800 million of such net assets | .140% |
Next $800 million of such net assets | .130% |
Over $3.2 billion of such net assets | .120% |
DWS Cash Investment Trust Class A | .85% |
DWS Cash Investment Trust Class C | 1.60% |
DWS Cash Investment Trust Class S | .57% |
DWS Money Market Fund | .57% |
22 | | DWS Money Market Prime Series |
DWS Cash Investment Trust Class A | $ 97,926 |
DWS Cash Investment Trust Class C | 41,391 |
DWS Cash Investment Trust Class S | 245,634 |
DWS Money Market Fund | 564,876 |
$ 949,827 |
Services to Shareholders | Total Aggregated | Unpaid at January 31, 2021 |
DWS Cash Investment Trust Class A | $ 14,370 | $ 3,571 |
DWS Cash Investment Trust Class C | 1,658 | 422 |
DWS Cash Investment Trust Class S | 105,304 | 26,857 |
DWS Money Market Fund | 194,754 | 51,103 |
$ 316,086 | $ 81,953 |
DWS Money Market Prime Series | | 23 |
Sub-Recordkeeping | Total Aggregated |
DWS Cash Investment Trust Class A | $ 3,012 |
DWS Cash Investment Trust Class C | 264 |
DWS Cash Investment Trust Class S | 2,392 |
DWS Money Market Fund | 3,924 |
$ 9,592 |
Distribution Fee | Total Aggregated | Unpaid at January 31, 2021 |
DWS Cash Investment Trust Class C | $ 25,744 | $ 3,858 |
Service Fee | Total Aggregated | Unpaid at January 31, 2021 | Annualized Rate |
DWS Cash Investment Trust Class A | $ 49,819 | $ 8,181 | .25% |
DWS Cash Investment Trust Class C | 8,582 | 1,286 | .25% |
$ 58,401 | $ 9,467 |
24 | | DWS Money Market Prime Series |
C. | Line of Credit |
DWS Money Market Prime Series | | 25 |
D. | Fund Share Transactions |
Six Months Ended January 31, 2021 | Year Ended July 31, 2020 | |||
Shares | Dollars | Shares | Dollars | |
Shares sold | ||||
DWS Cash Investment Trust Class A | 10,702,038 | $ 10,702,038 | 26,460,175 | $ 26,460,175 |
DWS Cash Investment Trust Class C | 1,016,795 | 1,016,795 | 6,283,548 | 6,283,548 |
DWS Cash Investment Trust Class S | 27,678,738 | 27,678,738 | 58,659,348 | 58,659,348 |
DWS Money Market Fund | 83,383,537 | 83,383,412 | 162,979,183 | 162,979,183 |
Account maintenance fees | — | 95,344 | — | 108,136 |
$ 122,876,327 | $ 254,490,390 | |||
Shares issued to shareholders in reinvestment of distributions | ||||
DWS Cash Investment Trust Class A | 1,963 | $ 1,963 | 294,383 | $ 294,383 |
DWS Cash Investment Trust Class C | 336 | 336 | 29,546 | 29,546 |
DWS Cash Investment Trust Class S | 8,664 | 8,664 | 1,924,432 | 1,924,432 |
DWS Money Market Fund | 23,286 | 23,286 | 5,402,201 | 5,402,201 |
$ 34,249 | $ 7,650,562 | |||
Shares redeemed | ||||
DWS Cash Investment Trust Class A | (10,656,797) | $ (10,656,797) | (19,976,675) | $ (19,976,675) |
DWS Cash Investment Trust Class C | (2,911,151) | (2,911,151) | (6,443,940) | (6,443,940) |
DWS Cash Investment Trust Class S | (26,691,495) | (26,691,495) | (61,963,281) | (61,963,281) |
DWS Money Market Fund | (90,992,888) | (90,992,888) | (180,894,405) | (180,894,405) |
$ (131,252,331) | $ (269,278,301) |
26 | | DWS Money Market Prime Series |
Six Months Ended January 31, 2021 | Year Ended July 31, 2020 | |||
Shares | Dollars | Shares | Dollars | |
Net increase (decrease) | ||||
DWS Cash Investment Trust Class A | 47,204 | $ 47,204 | 6,777,883 | $ 6,777,883 |
DWS Cash Investment Trust Class C | (1,894,020) | (1,894,020) | (130,846) | (130,846) |
DWS Cash Investment Trust Class S | 995,907 | 995,907 | (1,379,501) | (1,379,501) |
DWS Money Market Fund | (7,586,065) | (7,586,190) | (12,513,021) | (12,513,021) |
Account maintenance fees | — | 95,344 | — | 108,136 |
$ (8,341,755) | $ (7,137,349) |
E. | Money Market Fund Investments and Yield |
F. | Other — COVID-19 Pandemic |
DWS Money Market Prime Series | | 27 |
28 | | DWS Money Market Prime Series |
— | Actual Fund Return. This helps you estimate the actual dollar amount of ongoing expenses (but not transaction costs) paid on a $1,000 investment in the Fund using the Fund’s actual return during the period. To estimate the expenses you paid over the period, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the “Expenses Paid per $1,000” line under the share class you hold. |
— | Hypothetical 5% Fund Return. This helps you to compare your Fund’s ongoing expenses (but not transaction costs) with those of other mutual funds using the Fund’s actual expense ratio and a hypothetical rate of return of 5% per year before expenses. Examples using a 5% hypothetical fund return may be found in the shareholder reports of other mutual funds. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. |
DWS Money Market Prime Series | | 29 |
Actual Fund Return | DWS Cash Investment Trust Class A | DWS Cash Investment Trust Class C | DWS Cash Investment Trust Class S | DWS Money Market Fund |
Beginning Account Value 8/1/20 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value 1/31/21 | $1,000.05 | $1,000.05 | $1,000.05 | $1,000.05 |
Expenses Paid per $1,000* | $ 1.56 | $ 1.61 | $ 1.56 | $ 1.61 |
Hypothetical 5% Fund Return | DWS Cash Investment Trust Class A | DWS Cash Investment Trust Class C | DWS Cash Investment Trust Class S | DWS Money Market Fund |
Beginning Account Value 8/1/20 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value 1/31/21 | $1,023.64 | $1,023.59 | $1,023.64 | $1,023.59 |
Expenses Paid per $1,000* | $ 1.58 | $ 1.63 | $ 1.58 | $ 1.63 |
* | Expenses are equal to the Fund's annualized expense ratio for each share class, multiplied by the average account value over the period, multiplied by 184 (the number of days in the most recent six-month period), then divided by 365. |
Annualized Expense Ratios | DWS Cash Investment Trust Class A | DWS Cash Investment Trust Class C | DWS Cash Investment Trust Class S | DWS Money Market Fund |
DWS Money Market Prime Series | .31% | .32% | .31% | .32% |
30 | | DWS Money Market Prime Series |
— | During the entire process, all of the Fund’s Trustees were independent of DIMA and its affiliates (the “Independent Trustees”). |
— | The Board met frequently during the past year to discuss fund matters and dedicated a substantial amount of time to contract review matters. Over the course of several months, the Board reviewed extensive materials received from DIMA, independent third parties and independent counsel. These materials included an analysis of the Fund’s performance, fees and expenses, and profitability from a fee consultant retained by the Fund’s Independent Trustees (the “Fee Consultant”). |
— | The Board also received extensive information throughout the year regarding performance of the Fund. |
— | The Independent Trustees regularly met privately with counsel to discuss contract review and other matters. In addition, the Independent Trustees were advised by the Fee Consultant in the course of their review of the Fund’s contractual arrangements and considered a comprehensive report prepared by the Fee Consultant in connection with their deliberations. |
— | In connection with reviewing the Agreement, the Board also reviewed the terms of the Fund's Rule 12b-1 plan, distribution agreement, administrative services agreement, transfer agency agreement and other material service agreements. |
DWS Money Market Prime Series | | 31 |
32 | | DWS Money Market Prime Series |
DWS Money Market Prime Series | | 33 |
34 | | DWS Money Market Prime Series |
DWS Money Market Prime Series | | 35 |
For More Information | The automated telephone system allows you to access personalized account information and obtain information on other DWS funds using either your voice or your telephone keypad. Certain account types within DWS Cash Investment Trust Class A, DWS Cash Investment Trust Class C and DWS Cash Investment Trust Class S also have the ability to purchase, exchange or redeem shares using this system. |
For more information, contact your financial representative. You may also access our automated telephone system or speak with a Shareholder Service representative by calling: (800) 728-3337 | |
Web Site | dws.com View your account transactions and balances, trade shares, monitor your asset allocation, subscribe to fund and account updates by e-mail, and change your address, 24 hours a day. |
Obtain prospectuses and applications, news about DWS funds, insight from DWS economists and investment specialists and access to DWS fund account information. | |
Written Correspondence | DWSPO Box 219151 Kansas City, MO 64121-9151 |
Proxy Voting | The Fund’s policies and procedures for voting proxies for portfolio securities and information about how the Fund voted proxies related to its portfolio securities during the most recent 12-month period ended June 30 are available on our Web site — dws.com/en-us/resources/proxy-voting — or on the SEC’s Web site — sec.gov. To obtain a written copy of the Fund’s policies and procedures without charge, upon request, call us toll free at (800) 728-3337. |
Portfolio Holdings | Each month, information about the Fund and its portfolio holdings is filed with the SEC on Form N-MFP. The SEC delays the public availability of the information filed on Form N-MFP for 60 days after the end of the reporting period included in the filing. These forms will be available on the SEC’s Web site at sec.gov. The Fund’s portfolio holdings are also posted on dws.com as of each month-end. Please see the Fund’s current prospectus for more information. |
Principal Underwriter | If you have questions, comments or complaints, contact:DWS Distributors, Inc. 222 South Riverside Plaza Chicago, IL 60606-5808 (800) 621-1148 |
36 | | DWS Money Market Prime Series |
Investment Management | DWS Investment Management Americas, Inc. (“DIMA” or the “Advisor”), which is part of the DWS Group GmbH & Co. KGaA (“DWS Group”), is the investment advisor for the Fund. DIMA and its predecessors have more than 90 years of experience managing mutual funds and DIMA provides a full range of investment advisory services to both institutional and retail clients. DIMA is an indirect, wholly owned subsidiary of DWS Group. |
DWS Group is a global organization that offers a wide range of investing expertise and resources, including hundreds of portfolio managers and analysts and an office network that reaches the world’s major investment centers. This well-resourced global investment platform brings together a wide variety of experience and investment insight across industries, regions, asset classes and investing styles. |
Nasdaq Symbol | CUSIP Number | Fund Number | |
DWS Money Market Fund | KMMXX | 25159J104 | 6 |
DWS Cash Investment Trust Class A | DOAXX | 25159J203 | 421 |
DWS Cash Investment Trust Class C | DOCXX | 25159J401 | 721 |
DWS Cash Investment Trust Class S | DOSXX | 25159J500 | 2021 |
DWS Money Market Prime Series | | 37 |
FACTS | What Does DWS Do With Your Personal Information? |
Why? | Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share and protect your personal information. Please read this notice carefully to understand what we do. |
What? | The types of personal information we collect and share can include: — Social Security number — Account balances — Purchase and transaction history — Bank account information — Contact information such as mailing address, e-mail address and telephone number |
How? | All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information, the reasons DWS chooses to share and whether you can limit this sharing. |
Reasons we can share your personal information | Does DWS share? | Can you limit this sharing? |
For our everyday business purposes —such as to process your transactions, maintain your account(s), respond to court orders or legal investigations | Yes | No |
For our marketing purposes — to offer our products and services to you | Yes | No |
For joint marketing with other financial companies | No | We do not share |
For our affiliates’ everyday business purposes — information about your transactions and experiences | No | We do not share |
For our affiliates’ everyday business purposes — information about your creditworthiness | No | We do not share |
For non-affiliates to market to you | No | We do not share |
Questions? | Call (800) 728-3337 or e-mail us at service@dws.com |
38 | | DWS Money Market Prime Series |
Who we are | |
Who is providing this notice? | DWS Distributors, Inc; DWS Investment Management Americas, Inc.; DWS Trust Company; the DWS Funds |
What we do | |
How does DWS protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards, secured files, and secured buildings. |
How does DWS collect my personal information? | We collect your personal information, for example, when you: — open an account — give us your contact information — provide bank account information for ACH or wire transactions — tell us where to send money — seek advice about your investments |
Why can't I limit all sharing? | Federal law gives you the right to limit only — sharing for affiliates’ everyday business purposes — information about your creditworthiness — affiliates from using your information to market to you — sharing for non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing. |
Definitions | |
Affiliates | Companies related by common ownership or control. They can be financial or non-financial companies. Our affiliates include financial companies with the DWS or Deutsche Bank (“DB”) name, such as DB AG Frankfurt. |
Non-affiliates | Companies not related by common ownership or control. They can be financial and non-financial companies. Non-affiliates we share with include account service providers, service quality monitoring services, mailing service providers and verification services to help in the fight against money laundering and fraud. |
Joint marketing | A formal agreement between non-affiliated financial companies that together market financial products or services to you. DWS does not jointly market. |
DWS Money Market Prime Series | | 39 |
(b) Not applicable | ||
ITEM 2. | CODE OF ETHICS | |
Not applicable. | ||
ITEM 3. | AUDIT COMMITTEE FINANCIAL EXPERT | |
Not applicable | ||
ITEM 4. | PRINCIPAL ACCOUNTANT FEES AND SERVICES | |
Not applicable | ||
ITEM 5. | AUDIT COMMITTEE OF LISTED REGISTRANTS | |
Not applicable | ||
ITEM 6. | SCHEDULE OF INVESTMENTS | |
Not applicable | ||
ITEM 7. | DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES | |
Not applicable | ||
ITEM 8. | PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES | |
Not applicable | ||
ITEM 9. | PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS | |
Not applicable | ||
ITEM 10. | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS | |
There were no material changes to the procedures by which shareholders may recommend nominees to the Fund’s Board. The primary function of the Nominating and Governance Committee is to identify and recommend individuals for membership on the Board and oversee the administration of the Board Governance Guidelines. Shareholders may recommend candidates for Board positions by forwarding their correspondence by U.S. mail or courier service to Keith R. Fox, DWS Funds Board Chair, c/o Thomas R. Hiller, Ropes & Gray LLP, Prudential Tower, 800 Boylston Street, Boston, MA 02199-3600. | ||
ITEM 11. | CONTROLS AND PROCEDURES | |
(a) | The Chief Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report. | |
(b) | There have been no changes in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal controls over financial reporting. | |
ITEM 12. | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies. | |
Not applicable | ||
ITEM 13. | EXHIBITS | |
(a)(1) | Not applicable | |
(a)(2) | Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT. | |
(b) | Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Registrant: | DWS Money Market Prime Series, a series of Deutsche DWS Money Funds |
By: | /s/Hepsen Uzcan Hepsen Uzcan President |
Date: | 4/1/2021 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/Hepsen Uzcan Hepsen Uzcan President |
Date: | 4/1/2021 |
By: | /s/Diane Kenneally Diane Kenneally Chief Financial Officer and Treasurer |
Date: | 4/1/2021 |