UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM N-CSR
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: | 7/31/2021 |
ITEM 1. | REPORT TO STOCKHOLDERS |
(a) |
2 | | | DWS Money Market Prime Series |
DWS Money Market Prime Series | | | 3 |
4 | | | DWS Money Market Prime Series |
Portfolio Management Review | (Unaudited) |
DWS Money Market Prime Series | | | 5 |
6 | | | DWS Money Market Prime Series |
DWS Money Market Prime Series | 7-Day Current Yield* |
DWS Cash Investment Trust Class A | 0.01% |
DWS Cash Investment Trust Class C | 0.01% |
DWS Cash Investment Trust Class S | 0.01% |
DWS Money Market Fund | 0.01% |
* | The 7-Day Current Yield would have been –0.69%, –1.41%, –0.49% and –0.44% for DWS Cash Investment Trust Class A, DWS Cash Investment Trust Class C, DWS Cash Investment Trust Class S and DWS Money Market Fund shares, respectively, had certain expenses not been reduced. |
DWS Money Market Prime Series | | | 7 |
8 | | | DWS Money Market Prime Series |
Portfolio Summary | (Unaudited) |
Asset Allocation (As a % of Investment Portfolio) | 7/31/21 | 7/31/20 |
Commercial Paper | 44% | 41% |
Variable Rate Demand Notes | 25% | 30% |
Repurchase Agreements | 16% | 10% |
Certificates of Deposit and Bank Notes | 12% | 13% |
Corporate Bonds | 2% | 1% |
Variable Rate Demand Preferred Shares | 1% | 4% |
Government & Agency Obligations | — | 1% |
100% | 100% |
Weighted Average Maturity | 7/31/21 | 7/31/20 |
DWS Money Market Prime Series | 40 days | 36 days |
iMoneyNet Money Fund Average™ — First Tier Retail* | 39 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 | | | 9 |
Investment Portfolio | as of July 31, 2021 |
Principal Amount ($) | Value ($) | ||
Certificates of Deposit and Bank Notes 12.2% | |||
Bank of America NA: | |||
0.21%, 7/8/2022 | 5,000,000 | 5,000,000 | |
0.25%, 4/8/2022 | 6,370,000 | 6,370,000 | |
Bank of Montreal, 3-month LIBOR + 0.01%, 0.186% (a), 2/1/2022 | 5,000,000 | 4,999,919 | |
Bank of Nova Scotia: | |||
SOFR + 0.16%, 0.21% (a), 2/28/2022 | 8,500,000 | 8,500,000 | |
SOFR + 0.22%, 0.27% (a), 6/3/2022 | 5,500,000 | 5,500,000 | |
Canadian Imperial Bank of Commerce: | |||
3-month LIBOR + 0.05%, 0.169% (a), 6/13/2022 | 7,500,000 | 7,500,000 | |
1-month BSBY + 0.1%, 0.171% (a), 1/24/2022 | 4,025,000 | 4,025,000 | |
DZ Bank AG, 144A, 0.1%, 10/8/2021 | 7,500,000 | 7,499,929 | |
First Abu Dhabi Bank U.S.A NV, 3-month LIBOR + 0.08%, 0.256% (a), 8/4/2021 | 7,400,000 | 7,400,000 | |
Royal Bank of Canada, 3-month LIBOR + 0.05%, 0.185% (a), 10/8/2021 | 7,000,000 | 7,000,000 | |
Skandinaviska Enskilda Banken AB, 3-month LIBOR, 0.176% (a), 11/3/2021 | 5,000,000 | 4,999,918 | |
Svenska Handlsbnkn AB, 0.115%, 11/15/2021 | 4,000,000 | 4,000,059 | |
Westpac Banking Corp., 3-month LIBOR + 0.05%, 0.226% (a), 8/3/2021 | 5,000,000 | 5,000,011 | |
Total Certificates of Deposit and Bank Notes (Cost $77,794,836) | 77,794,836 | ||
Commercial Paper 43.6% | |||
Issued at Discount (b) 30.4% | |||
Alinghi Funding Co. LLC: | |||
144A, 0.162%, 1/11/2022 | 5,700,000 | 5,695,871 | |
144A, 0.213%, 8/12/2021 | 7,500,000 | 7,499,519 | |
144A, 0.294%, 10/22/2021 | 7,200,000 | 7,195,244 | |
ANZ National International Ltd., 144A, 0.253%, 4/26/2022 | 8,500,000 | 8,484,182 | |
Barclays Bank PLC, 0.218%, 10/5/2021 | 7,000,000 | 6,997,283 | |
Barclays Capital, Inc.: | |||
0.264%, 8/10/2021 | 7,000,000 | 6,999,545 | |
144A, 0.264%, 8/18/2021 | 7,500,000 | 7,499,079 | |
144A, 0.294%, 8/4/2021 | 3,000,000 | 2,999,927 | |
Canara Asset Securitisation LLC, 0.091%, 8/16/2021 | 1,658,000 | 1,657,938 | |
Concord Minutemen Capital Co. LLC: | |||
144A, 0.274%, 5/25/2022 | 6,000,000 | 5,986,635 |
10 | | | DWS Money Market Prime Series |
Principal Amount ($) | Value ($) | ||
144A, 0.324%, 3/1/2022 | 4,500,000 | 4,491,520 | |
DBS Bank Ltd.: | |||
144A, 0.117%, 10/4/2021 | 7,300,000 | 7,298,507 | |
144A, 0.183%, 10/1/2021 | 10,000,000 | 9,996,950 | |
Federation Des Caisses, 144A, 0.101%, 8/3/2021 | 350,000 | 349,998 | |
First Abu Dhabi Bank PJSC, 144A, 0.147%, 12/1/2021 | 7,100,000 | 7,096,511 | |
Goldman Sachs International, 144A, 0.304%, 10/12/2021 | 10,000,000 | 9,994,000 | |
HSBC Bank PLC, 0.274%, 2/1/2022 | 8,390,000 | 8,378,422 | |
Ionic Capital II: | |||
0.101%, 8/13/2021 | 12,500,000 | 12,499,583 | |
0.112%, 9/2/2021 | 5,000,000 | 4,999,511 | |
KFW, 144A, 0.203%, 1/28/2022 | 4,000,000 | 3,996,000 | |
LMA Americas LLC, 144A, 0.147%, 9/3/2021 | 5,700,000 | 5,699,242 | |
LMA SA, 144A, 0.203%, 9/2/2021 | 7,500,000 | 7,498,667 | |
LVMH Moet Hennessy Louis Vuitton SE, 144A, 0.122%, 11/4/2021 | 3,775,000 | 3,773,805 | |
Mackinac Funding Co. LLC, 144A, 0.213%, 10/19/2021 | 8,000,000 | 7,996,313 | |
Mont Blanc Capital Corp.: | |||
144A, 0.132%, 11/5/2021 | 5,500,000 | 5,498,093 | |
144A, 0.152%, 9/8/2021 | 3,991,000 | 3,990,368 | |
Nationwide Building Society, 144A, 0.091%, 8/3/2021 | 700,000 | 699,996 | |
Shell International Finance BV, 144A, 0.269%, 10/1/2021 | 10,000,000 | 9,995,510 | |
Skandinaviska Enskilda Banken AB, 144A, 0.243%, 4/27/2022 | 7,500,000 | 7,486,550 | |
Toronto Dominion Bank, 0.183%, 4/5/2022 | 3,250,000 | 3,245,986 | |
Versailles LLC, 0.112%, 10/6/2021 | 8,500,000 | 8,498,286 | |
194,499,041 | |||
Issued at Par 13.2% | |||
Alpine Securitization LLC: | |||
144A, 0.15%, 9/1/2021 | 10,000,000 | 10,000,000 | |
144A, 0.18%, 2/7/2022 | 7,000,000 | 7,000,000 | |
Australia & New Zealand Banking Group Ltd., 144A, 3-month LIBOR + 0.01%, 0.141% (a), 12/2/2021 | 5,000,000 | 4,999,903 | |
National Australia Bank Ltd.: | |||
144A, 3-month LIBOR + 0.02%, 0.18% (a), 8/13/2021 | 5,000,000 | 5,000,016 | |
144A, SOFR + 0.15%, 0.2% (a), 1/27/2022 | 10,000,000 | 10,000,000 | |
144A, 3-month LIBOR + 0.06%, 0.222% (a), 11/10/2021 | 5,000,000 | 4,999,974 | |
Oversea-Chinese Banking Corp., Ltd., SOFR + 0.17%, 0.22% (a), 10/7/2021 | 10,000,000 | 10,000,000 | |
Thunder Bay Funding LLC, 144A, 3-month LIBOR, 0.16% (a), 11/22/2021 | 15,795,000 | 15,795,000 |
DWS Money Market Prime Series | | | 11 |
Principal Amount ($) | Value ($) | ||
UBS AG, 144A, 3-month LIBOR + 0.1%, 0.276% (a), 11/5/2021 | 7,000,000 | 7,000,000 | |
Westpac Banking Corp., 144A, 3-month LIBOR + 0.02%, 0.17% (a), 11/24/2021 | 9,250,000 | 9,250,000 | |
84,044,893 | |||
Total Commercial Paper (Cost $278,543,934) | 278,543,934 | ||
Variable Rate Demand Notes (c) 24.6% | |||
Alaska, State Housing Finance Corp., Series B, 0.09%, 8/6/2021 | 25,800,000 | 25,800,000 | |
Broward County, FL, Housing Finance Authority, Multi-Family Housing Revenue, Series A, AMT, 0.05%, 8/6/2021, LOC: Fannie Mae, LIQ: Fannie Mae | 820,000 | 820,000 | |
California, ABAG Finance Authority For Nonprofit Corp., Sharp Healthcare Obligated Group, Series A, 0.01%, 8/6/2021, LOC: Bank of America NA | 240,000 | 240,000 | |
California, Infrastructure & Economic Development Bank, Industrial Development Revenue, Pleasant Mattress, Inc., Series A, AMT, 0.07%, 8/6/2021, LOC: Wells Fargo Bank NA | 100,000 | 100,000 | |
California, University of California Revenue, Series Z-2, 0.07%, 8/6/2021 | 25,000,000 | 25,000,000 | |
Chicago, IL, International Airport Authority, Gary Jet Center Project, Series 2011, AMT, 0.06%, 5/1/2036, LOC: BMO Harris Bank NA | 2,085,000 | 2,085,000 | |
Colorado, State Health Facilities Authority Revenue, Children’s Hospital Colorado Project, Series A, 0.03%, 8/1/2021, LOC: TD Bank NA | 300,000 | 300,000 | |
Colorado, State Housing & Finance Authority, Multi-Family Housing Project, “I” , Series A-2, 0.05%, 8/6/2021, SPA: Federal Home Loan Bank | 15,000,000 | 15,000,000 | |
Hillsborough County, FL, Housing Finance Authority Multi-Family Revenue, Claymore Crossings Apartments, 0.06%, 8/6/2021, LOC: Citibank NA | 475,000 | 475,000 | |
Illinois, State Development Finance Authority, Chicago Horticultural Society Project, 0.02%, 8/6/2021, LOC: BMO Harris Bank NA | 500,000 | 500,000 | |
Iowa, Finance Authority, Educational Facility Revenue, Holy Family Catholic School Project, 0.03%, 8/2/2021, LOC: U.S. Bank NA | 955,000 | 955,000 | |
Iowa, State Higher Education Loan Authority Revenue, Loras College, 0.03%, 8/2/2021, LOC: Bank of America NA | 1,650,000 | 1,650,000 | |
Iowa, State Higher Education Loan Authority, Private College Facility Revenue, Loras College, 0.03%, 8/1/2021, LOC: Bank of America NA | 420,000 | 420,000 |
12 | | | DWS Money Market Prime Series |
Principal Amount ($) | Value ($) | ||
Issaquah Gateway SR Development LLC, Series A, 0.13%, 11/1/2057 | 11,000,000 | 11,000,000 | |
Lowell, AR, Industrial Development Revenue, Little Rock Newspapers, Inc., 0.14%, 6/1/2031, LOC: JP Morgan Chase Bank NA | 700,000 | 700,000 | |
Lynchburg, VA, Economic Development Authority, Hospital Revenue, Centra Health Obligated Group, Series B, 0.02%, 8/1/2021, LOC: Truist Bank | 100,000 | 100,000 | |
Michigan, State Housing Development Authority Revenue, Series A, AMT, 0.05%, 8/6/2021, LOC: Barclays Bank PLC | 11,830,000 | 11,830,000 | |
Michigan, State Housing Development Authority, Single-Family Mortgage Revenue, Series B, AMT, 0.08%, 8/6/2021, SPA: Industrial & Commercial Bank of China | 1,500,000 | 1,500,000 | |
New Castle County, DE, Airport Facility Revenue, Flightsafety International, Inc. Project, 0.07%, 8/6/2021, GTY: Berkshire Hathaway, Inc. | 5,700,000 | 5,700,000 | |
New York, Metropolitan Transportation Authority, Dedicated Tax Fund, Series A-1, 0.02%, 8/2/2021, LOC: TD Bank NA | 2,520,000 | 2,520,000 | |
New York, Taxable Municipal Funding Trust, Series 2018-4, AMT, 0.13%, 8/6/2021, INS: AGMC, LOC : Barclays Bank PLC | 1,355,000 | 1,355,000 | |
New York, NY, General Obligation, Series I-4, 0.02%, 8/2/2021, LOC: TD Bank NA | 300,000 | 300,000 | |
Oregon, State Facilities Authority Revenue, Peace Health: | |||
Series B, 0.02%, 8/1/2021, LOC: TD Bank NA | 1,200,000 | 1,200,000 | |
Series A, 0.02%, 8/1/2021, LOC: U.S. Bank NA | 825,000 | 825,000 | |
Oregon, State of Oregon Business Development Commission, Murphy Company Project, Series 230, AMT, 0.05%, 8/6/2021, LOC: U.S. Bank NA | 3,000,000 | 3,000,000 | |
Port of Portland, OR, Portland International Airport Revenue, Series 18A, AMT, 0.05%, 8/6/2021, LOC: Industrial & Commercial Bank of China | 10,355,000 | 10,355,000 | |
Port of Tacoma, WA, Subordinate Lien Revenue, Series A, AMT, 0.05%, 8/6/2021, LOC: PNC Bank NA | 5,000,000 | 5,000,000 | |
San Antonio, TX, State Electical and Gas Revenue, Series A, 0.15%, 10/13/2021 | 5,560,000 | 5,560,000 | |
Sevier County, TN, Public Building Authority, Local Government Public Improvement Bonds, Series B-1, 0.03%, 8/6/2021, LOC: Bank of America NA | 1,200,000 | 1,200,000 | |
Tarrant County, TX, Cultural Educational Facilities Finance Corp. Revenue, Christus Health Obligated Group, Series C-4, 0.02%, 8/6/2021, LOC: Bank of Montreal | 100,000 | 100,000 | |
Taxable Municipal Funding Trust, Series BTMFT, AMT, 0.13%, 8/6/2021, LOC: Barclays Bank PLC | 12,100,000 | 12,100,000 |
DWS Money Market Prime Series | | | 13 |
Principal Amount ($) | Value ($) | ||
University of Texas, TX, University Revenue, Financing System, Series G2, 0.05%, 8/6/2021, LIQ: University of Texas Investment Management Co. | 7,000,000 | 7,000,000 | |
Vermont, State Educational & Health Buildings Financing Agency Revenue, Landmark College Project, 0.03%, 8/1/2021, LOC: TD Bank NA | 645,000 | 645,000 | |
Wisconsin, Whitewater Community Development Authority, Housing Preservation, 0.03%, 8/6/2021, LOC: BMO Harris Bank NA | 2,325,000 | 2,325,000 | |
Total Variable Rate Demand Notes (Cost $157,660,000) | 157,660,000 | ||
Variable Rate Demand Preferred Shares (c) 1.3% | |||
California, Nuveen Quality Municipal Income Fund: | |||
Series 7, AMT, 0.09%, LIQ: Royal Bank of Canada, 8/6/2021 | 3,500,000 | 3,500,000 | |
Series 6, AMT, 0.11%, LIQ: JP Morgan Chase Bank NA, 8/6/2021 | 700,000 | 700,000 | |
Invesco Senior Income Trust, 144A, 0.19%, 6/1/2028 | 4,000,000 | 4,000,000 | |
Total Variable Rate Demand Preferred Shares (Cost $8,200,000) | 8,200,000 | ||
Corporate Bonds 2.0% | |||
BNZ International Funding Ltd., 144A, 2.1%, 9/14/2021 | 2,955,000 | 2,961,388 | |
Toyota Motor Credit Corp., SOFR + 0.23%, 0.28%(a), 12/13/2021 | 9,960,000 | 9,962,583 | |
Total Corporate Bonds (Cost $12,923,971) | 12,923,971 | ||
Repurchase Agreements 16.2% | |||
BNP Paribas, 0.05%, dated 7/30/2021, to be repurchased at $62,700,261 on 8/2/2021 (d) | 62,700,000 | 62,700,000 | |
Wells Fargo Bank NA, 0.06%, dated 7/30/2021, to be repurchased at $40,900,205 on 8/2/2021 (e) | 40,900,000 | 40,900,000 | |
Total Repurchase Agreements (Cost $103,600,000) | 103,600,000 |
14 | | | DWS Money Market Prime Series |
% of Net Assets | Value ($) | ||
Total Investment Portfolio (Cost $638,722,741) | 99.9 | 638,722,741 | |
Other Assets and Liabilities, Net | 0.1 | 395,725 | |
Net Assets | 100.0 | 639,118,466 |
(a) | Floating rate security. These securities are shown at their current rate as of July 31, 2021. |
(b) | Annualized yield at time of purchase; not a coupon rate. |
(c) | Variable rate demand notes and variable rate demand preferred shares are securities whose interest rates are reset periodically (usually daily mode or weekly mode) by remarketing agents based on current market levels, and are not directly set as a fixed spread to a reference rate. These securities may be redeemed at par by the holder at any time, and are shown at their current rates as of July 31, 2021. Date shown reflects the earlier of demand date or stated maturity date. |
(d) | Collateralized by: |
Principal Amount ($) | Security | Rate (%) | Maturity Date | Collateral Value ($) |
63,955,900 | U.S. Treasury Bills | Zero Coupon | 8/24/2021–5/19/2022 | 63,953,917 |
100 | U.S. Treasury Notes | 2.25 | 4/15/2022 | 102 |
Total Collateral Value | 63,954,019 |
(e) | Collateralized by: |
Principal Amount ($) | Security | Rate (%) | Maturity Date | Collateral Value ($) |
38,549,008 | Federal National Mortgage Association | 2.0–5.5 | 1/1/2047–4/1/2051 | 41,718,000 |
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. |
BSBY: Bloomberg Short-Term Bank Yield Index |
GTY: Guaranty Agreement |
INS: Insured |
LIBOR: London Interbank Offered Rate |
LIQ: Liquidity Facility |
LOC: Letter of Credit |
PJSC: Public Joint Stock Company |
SOFR: Secured Overnight Financing Rate |
SPA: Standby Bond Purchase Agreement |
DWS Money Market Prime Series | | | 15 |
Assets | Level 1 | Level 2 | Level 3 | Total |
Investments in Securities (a) | $— | $535,122,741 | $— | $535,122,741 |
Repurchase Agreements | — | 103,600,000 | — | 103,600,000 |
Total | $ — | $638,722,741 | $ — | $638,722,741 |
(a) | See Investment Portfolio for additional detailed categorizations. |
16 | | | DWS Money Market Prime Series |
Assets | |
Investments in securities, valued at amortized cost | $ 535,122,741 |
Repurchase agreements, valued at amortized cost | 103,600,000 |
Cash | 47,275 |
Receivable for investments sold | 60,000 |
Receivable for Fund shares sold | 868,716 |
Interest receivable | 89,897 |
Other assets | 45,054 |
Total assets | 639,833,683 |
Liabilities | |
Payable for Fund shares redeemed | 483,745 |
Distributions payable | 1,038 |
Accrued Trustees' fees | 6,441 |
Other accrued expenses and payables | 223,993 |
Total liabilities | 715,217 |
Net assets, at value | $ 639,118,466 |
Net Assets Consist of | |
Distributable earnings (loss) | (99,476) |
Paid-in capital | 639,217,942 |
Net assets, at value | $ 639,118,466 |
Net Asset Value | |
DWS Cash Investment Trust Class A | |
Net Asset Value, offering and redemption price per share ($36,069,632 ÷ 36,042,358 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 ($5,199,198 ÷ 5,195,267 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 ($168,353,800 ÷ 168,226,331 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 ($429,495,836 ÷ 429,171,549 outstanding shares of beneficial interest, no par value, unlimited number of shares authorized) | $ 1.00 |
DWS Money Market Prime Series | | | 17 |
Investment Income | |
Income: | |
Interest | $ 1,722,170 |
Expenses: | |
Management fee | 2,046,994 |
Administration fee | 662,386 |
Services to shareholders | 921,074 |
Distribution and service fees | 154,394 |
Custodian fee | 10,056 |
Professional fees | 60,369 |
Reports to shareholders | 75,596 |
Registration fees | 80,674 |
Trustees' fees and expenses | 21,533 |
Other | 38,723 |
Total expenses before expense reductions | 4,071,799 |
Expense reductions | (2,418,044) |
Total expenses after expense reductions | 1,653,755 |
Net investment income | 68,415 |
Net realized gain (loss) from investments | 1,596 |
Net increase (decrease) in net assets resulting from operations | $ 70,011 |
18 | | | DWS Money Market Prime Series |
Years Ended July 31, | ||
Increase (Decrease) in Net Assets | 2021 | 2020 |
Operations: | ||
Net investment income | $ 68,415 | $ 7,207,240 |
Net realized gain (loss) | 1,596 | (100,291) |
Net increase (decrease) in net assets resulting from operations | 70,011 | 7,106,949 |
Distributions to shareholders: | ||
DWS Cash Investment Trust Class A | (3,794) | (287,682) |
DWS Cash Investment Trust Class C | (591) | (28,423) |
DWS Cash Investment Trust Class S | (17,577) | (1,935,066) |
DWS Money Market Fund | (46,285) | (5,341,894) |
Total distributions | (68,247) | (7,593,065) |
Fund share transactions: | ||
Proceeds from shares sold | 220,814,511 | 254,490,390 |
Reinvestment of distributions | 66,706 | 7,650,562 |
Payments for shares redeemed | (280,135,856) | (269,278,301) |
Net increase (decrease) in net assets from Fund share transactions | (59,254,639) | (7,137,349) |
Increase (decrease) in net assets | (59,252,875) | (7,623,465) |
Net assets at beginning of period | 698,371,341 | 705,994,806 |
Net assets at end of period | $ 639,118,466 | $ 698,371,341 |
DWS Money Market Prime Series | | | 19 |
DWS Money Market Prime Series — DWS Cash Investment Trust Class A | |||||
Years Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Selected Per Share Data | |||||
Net asset value, beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations: | |||||
Net investment income | .000 * | .008 | .017 | .009 | .002 |
Net realized gain (loss) | .000 * | (.000) * | .000 * | (.000) * | .000 * |
Total from investment operations | .000 * | .008 | .017 | .009 | .002 |
Less distributions from: | |||||
Net investment income | (.000) * | (.009) | (.017) | (.009) | (.002) |
Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return (%) | .01 a | .90 a | 1.71 | .89 | .19 a |
Ratios to Average Net Assets and Supplemental Data | |||||
Net assets, end of period ($ millions) | 36 | 38 | 31 | 33 | 76 |
Ratio of expenses before expense reductions (%) | .82 | .82 | .82 | .80 | .79 |
Ratio of expenses after expense reductions (%) | .24 | .75 | .82 | .80 | .74 |
Ratio of net investment income (%) | .01 | .78 | 1.69 | .86 | .20 |
a | Total return would have been lower had certain expenses not been reduced. |
* | Amount is less than $.0005. |
20 | | | DWS Money Market Prime Series |
DWS Money Market Prime Series — DWS Cash Investment Trust Class C | |||||
Years Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Selected Per Share Data | |||||
Net asset value, beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations: | |||||
Net investment income | .000 * | .003 | .010 | .002 | .000 * |
Net realized gain (loss) | .000 * | (.000) * | .000 * | (.000) * | .000 * |
Total from investment operations | .000 * | .003 | .010 | .002 | .000 * |
Less distributions from: | |||||
Net investment income | (.000) * | (.004) | (.010) | (.002) | (.000) * |
Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return (%) | .01 a | .39 a | .99 | .23 a | .02 a |
Ratios to Average Net Assets and Supplemental Data | |||||
Net assets, end of period ($ millions) | 5 | 8 | 8 | 21 | 15 |
Ratio of expenses before expense reductions (%) | 1.53 | 1.54 | 1.54 | 1.54 | 1.52 |
Ratio of expenses after expense reductions (%) | .25 | 1.24 | 1.54 | 1.47 | .88 |
Ratio of net investment income (%) | .01 | .33 | .93 | .23 | .01 |
a | Total return would have been lower had certain expenses not been reduced. |
* | Amount is less than $.0005. |
DWS Money Market Prime Series | | | 21 |
DWS Money Market Prime Series — DWS Cash Investment Trust Class S | |||||
Years Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Selected Per Share Data | |||||
Net asset value, beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations: | |||||
Net investment income | .000 * | .010 | .020 | .011 | .004 |
Net realized gain (loss) | .000 * | (.000) * | .000 * | (.000) * | .000 * |
Total from investment operations | .000 * | .010 | .020 | .011 | .004 |
Less distributions from: | |||||
Net investment income | (.000) * | (.011) | (.020) | (.011) | (.004) |
Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return (%)a | .01 | 1.11 | 1.97 | 1.12 | .36 |
Ratios to Average Net Assets and Supplemental Data | |||||
Net assets, end of period ($ millions) | 168 | 177 | 179 | 181 | 193 |
Ratio of expenses before expense reductions (%) | .60 | .59 | .59 | .60 | .60 |
Ratio of expenses after expense reductions (%) | .24 | .55 | .57 | .57 | .57 |
Ratio of net investment income (%) | .01 | 1.05 | 1.95 | 1.11 | .35 |
a | Total return would have been lower had certain expenses not been reduced. |
* | Amount is less than $.0005. |
22 | | | DWS Money Market Prime Series |
DWS Money Market Prime Series — DWS Money Market Fund | |||||
Years Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Selected Per Share Data | |||||
Net asset value, beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations: | |||||
Net investment income | .000 * | .010 | .020 | .011 | .004 |
Net realized gain (loss) | .000 * | (.000) * | .000 * | (.000) * | .000 * |
Total from investment operations | .000 * | .010 | .020 | .011 | .004 |
Less distributions from: | |||||
Net investment income | (.000) * | (.011) | (.020) | (.011) | (.004) |
Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return (%) | .01 a | 1.11 a | 1.98 | 1.12 a | .38 |
Ratios to Average Net Assets and Supplemental Data | |||||
Net assets, end of period ($ millions) | 429 | 475 | 488 | 510 | 543 |
Ratio of expenses before expense reductions (%) | .56 | .56 | .55 | .58 | .55 |
Ratio of expenses after expense reductions (%) | .24 | .55 | .55 | .57 | .55 |
Ratio of net investment income (%) | .01 | 1.05 | 1.96 | 1.11 | .37 |
a | Total return would have been lower had certain expenses not been reduced. |
* | Amount is less than $.0005. |
DWS Money Market Prime Series | | | 23 |
A. | Organization and Significant Accounting Policies |
24 | | | DWS Money Market Prime Series |
DWS Money Market Prime Series | | | 25 |
Undistributed ordinary income | $ 255 |
Capital loss carryforwards | $ (99,000) |
Years Ended July 31, | ||
2021 | 2020 | |
Distributions from ordinary income* | $ 68,247 | $ 7,593,065 |
* | For tax purposes, short-term capital gain distributions are considered ordinary income distributions. |
26 | | | DWS Money Market Prime Series |
B. | Related Parties |
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 Money Market Prime Series | | | 27 |
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% |
DWS Cash Investment Trust Class A | $ 219,154 |
DWS Cash Investment Trust Class C | 76,457 |
DWS Cash Investment Trust Class S | 637,883 |
DWS Money Market Fund | 1,484,550 |
$ 2,418,044 |
28 | | | DWS Money Market Prime Series |
Services to Shareholders | Total Aggregated | Unpaid at July 31, 2021 |
DWS Cash Investment Trust Class A | $ 31,685 | $ 5,295 |
DWS Cash Investment Trust Class C | 3,468 | 579 |
DWS Cash Investment Trust Class S | 227,707 | 37,595 |
DWS Money Market Fund | 414,928 | 68,105 |
$ 677,788 | $ 111,574 |
Sub-Recordkeeping | Total Aggregated |
DWS Cash Investment Trust Class A | $ 6,321 |
DWS Cash Investment Trust Class C | 303 |
DWS Cash Investment Trust Class S | 4,924 |
DWS Money Market Fund | 7,605 |
$ 19,153 |
Distribution Fee | Total Aggregated | Unpaid at July 31, 2021 |
DWS Cash Investment Trust Class C | $ 44,780 | $ 3,121 |
DWS Money Market Prime Series | | | 29 |
Service Fee | Total Aggregated | Unpaid at July 31, 2021 | Annual Rate |
DWS Cash Investment Trust Class A | $ 94,687 | $ 7,542 | .25% |
DWS Cash Investment Trust Class C | 14,927 | 1,040 | .25% |
$ 109,614 | $ 8,582 |
C. | Line of Credit |
30 | | | DWS Money Market Prime Series |
D. | Fund Share Transactions |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | |||
Shares | Dollars | Shares | Dollars | |
Shares sold | ||||
DWS Cash Investment Trust Class A | 18,305,194 | $ 18,305,194 | 26,460,175 | $ 26,460,175 |
DWS Cash Investment Trust Class C | 1,780,617 | 1,780,617 | 6,283,548 | 6,283,548 |
DWS Cash Investment Trust Class S | 46,645,336 | 46,645,336 | 58,659,348 | 58,659,348 |
DWS Money Market Fund | 153,988,146 | 153,988,020 | 162,979,183 | 162,979,183 |
Account maintenance fees | — | 95,344 | — | 108,136 |
$ 220,814,511 | $ 254,490,390 | |||
Shares issued to shareholders in reinvestment of distributions | ||||
DWS Cash Investment Trust Class A | 3,738 | $ 3,738 | 294,383 | $ 294,383 |
DWS Cash Investment Trust Class C | 590 | 590 | 29,546 | 29,546 |
DWS Cash Investment Trust Class S | 17,077 | 17,077 | 1,924,432 | 1,924,432 |
DWS Money Market Fund | 45,301 | 45,301 | 5,402,201 | 5,402,201 |
$ 66,706 | $ 7,650,562 | |||
Shares redeemed | ||||
DWS Cash Investment Trust Class A | (20,478,095) | $ (20,478,095) | (19,976,675) | $ (19,976,675) |
DWS Cash Investment Trust Class C | (4,256,687) | (4,256,687) | (6,443,940) | (6,443,940) |
DWS Cash Investment Trust Class S | (55,594,355) | (55,594,355) | (61,963,281) | (61,963,281) |
DWS Money Market Fund | (199,806,719) | (199,806,719) | (180,894,405) | (180,894,405) |
$ (280,135,856) | $ (269,278,301) |
DWS Money Market Prime Series | | | 31 |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | |||
Shares | Dollars | Shares | Dollars | |
Net increase (decrease) | ||||
DWS Cash Investment Trust Class A | (2,169,163) | $ (2,169,163) | 6,777,883 | $ 6,777,883 |
DWS Cash Investment Trust Class C | (2,475,480) | (2,475,480) | (130,846) | (130,846) |
DWS Cash Investment Trust Class S | (8,931,942) | (8,931,942) | (1,379,501) | (1,379,501) |
DWS Money Market Fund | (45,773,272) | (45,773,398) | (12,513,021) | (12,513,021) |
Account maintenance fees | — | 95,344 | — | 108,136 |
$ (59,254,639) | $ (7,137,349) |
E. | Money Market Fund Investments and Yield |
F. | Other — COVID-19 Pandemic |
32 | | | DWS Money Market Prime Series |
DWS Money Market Prime Series | | | 33 |
34 | | | DWS Money Market Prime Series |
DWS Money Market Prime Series | | | 35 |
— | 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. |
36 | | | DWS Money Market Prime Series |
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 2/1/21 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value 7/31/21 | $1,000.05 | $1,000.05 | $1,000.05 | $1,000.05 |
Expenses Paid per $1,000* | $ .84 | $ .84 | $ .79 | $ .79 |
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 2/1/21 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value 7/31/21 | $1,023.95 | $1,023.95 | $1,024.00 | $1,024.00 |
Expenses Paid per $1,000* | $ .85 | $ .85 | $ .80 | $ .80 |
* | 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 181 (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 | .17% | .17% | .16% | .16% |
Tax Information | (Unaudited) |
DWS Money Market Prime Series | | | 37 |
— | 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. |
38 | | | DWS Money Market Prime Series |
DWS Money Market Prime Series | | | 39 |
40 | | | DWS Money Market Prime Series |
DWS Money Market Prime Series | | | 41 |
42 | | | DWS Money Market Prime Series |
Name, Year of Birth, Position with the Trust/ Corporation and Length of Time Served1 | Business Experience and Directorships During the Past Five Years | Number of Funds in DWS Fund Complex Overseen | Other Directorships Held by Board Member |
Keith R. Fox, CFA (1954)Chairperson since 2017, and Board Member since 1996 | Managing General Partner, Exeter Capital Partners (a series of private investment funds) (since 1986). Directorships: Progressive International Corporation (kitchen goods importer and distributor); former Chairman, National Association of Small Business Investment Companies; Former Directorships: ICI Mutual Insurance Company; BoxTop Media Inc. (advertising); Sun Capital Advisers Trust (mutual funds) | 72 | — |
DWS Money Market Prime Series | | | 43 |
Name, Year of Birth, Position with the Trust/ Corporation and Length of Time Served1 | Business Experience and Directorships During the Past Five Years | Number of Funds in DWS Fund Complex Overseen | Other Directorships Held by Board Member |
John W. Ballantine (1946)Board Member since 1999 | Retired; formerly, Executive Vice President and Chief Risk Management Officer, First Chicago NBD Corporation/The First National Bank of Chicago (1996–1998); Executive Vice President and Head of International Banking (1995–1996); Not-for-Profit Directorships: Palm Beach Civic Assn.; Window to the World Communications (public media); Life Director of Harris Theater for Music and Dance (Chicago); Life Director of Hubbard Street Dance Chicago; Former Directorships: Director and Chairman of the Board, Healthways, Inc.2 (population wellbeing and wellness services) (2003–2014); Stockwell Capital Investments PLC (private equity); Enron Corporation; FNB Corporation; Tokheim Corporation; First Oak Brook Bancshares, Inc.; Oak Brook Bank; Portland General Electric2 (utility company (2003–2021); and Prisma Energy International; Former Not-for-Profit Directorships: Public Radio International | 72 | — |
Dawn-Marie Driscoll (1946)Board Member since 1987 | Advisory Board and former Executive Fellow, Hoffman Center for Business Ethics, Bentley University; formerly: Partner, Palmer & Dodge (law firm) (1988–1990); Vice President of Corporate Affairs and General Counsel, Filene’s (retail) (1978–1988); Directorships: Trustee and former Chairman of the Board, Southwest Florida Community Foundation (charitable organization); Former Directorships: ICI Mutual Insurance Company (2007–2015); Sun Capital Advisers Trust (mutual funds) (2007–2012), Investment Company Institute (audit, executive, nominating committees) and Independent Directors Council (governance, executive committees) | 72 | — |
44 | | | DWS Money Market Prime Series |
Name, Year of Birth, Position with the Trust/ Corporation and Length of Time Served1 | Business Experience and Directorships During the Past Five Years | Number of Funds in DWS Fund Complex Overseen | Other Directorships Held by Board Member |
Richard J. Herring (1946)Board Member since 1990 | Jacob Safra Professor of International Banking and Professor of Finance, The Wharton School, University of Pennsylvania (since July 1972); Director, The Wharton Financial Institutions Center (1994–2020); formerly: Vice Dean and Director, Wharton Undergraduate Division (1995–2000) and Director, The Lauder Institute of International Management Studies (2000–2006); Member FDIC Systemic Risk Advisory Committee since 2011, member Systemic Risk Council since 2012 and member of the Advisory Board at the Yale Program on Financial Stability since 2013; Former Directorships: Co-Chair of the Shadow Financial Regulatory Committee (2003–2015), Executive Director of The Financial Economists Roundtable (2008–2015), Director of The Thai Capital Fund (2007–2013), Director of The Aberdeen Singapore Fund (2007–2018), and Nonexecutive Director of Barclays Bank DE (2010–2018) | 72 | Director, Aberdeen Japan Fund (since 2007) |
William McClayton (1944)Board Member since 2004 | Private equity investor (since October 2009); formerly: Managing Director, Diamond Management & Technology Consultants, Inc. (global consulting firm) (2001–2009); Senior Partner, Arthur Andersen LLP (accounting) (1966–2001); Former Directorships: Board of Managers, YMCA of Metropolitan Chicago; Trustee, Ravinia Festival | 72 | — |
Rebecca W. Rimel (1951)Board Member since 1995 | Senior Advisor, The Pew Charitable Trusts (charitable organization) (since July 2020); Director, The Bridgespan Group (nonprofit organization) (since October 2020); formerly: Executive Vice President, The Glenmede Trust Company (investment trust and wealth management) (1983–2004); Board Member, Investor Education (charitable organization) (2004–2005); Former Directorships: Trustee, Executive Committee, Philadelphia Chamber of Commerce (2001–2007); Director, Viasys Health Care2 (January 2007–June 2007); Trustee, Thomas Jefferson Foundation (charitable organization) (1994–2012); President, Chief Executive Officer and Director, The Pew Charitable Trusts (charitable organization) (1994–2020); Director, BioTelemetry Inc.2 (acquired by Royal Philips in 2021) (healthcare) (2009–2021) | 72 | Director, Becton Dickinson and Company2 (medical technology company) (2012–present) |
William N. Searcy, Jr. (1946)Board Member since 1993 | Private investor since October 2003; formerly: Pension & Savings Trust Officer, Sprint Corporation2 (telecommunications) (November 1989–September 2003); Former Directorships: Trustee, Sun Capital Advisers Trust (mutual funds) (1998–2012) | 72 | — |
DWS Money Market Prime Series | | | 45 |
Name, Year of Birth, Position with the Trust/Corporation and Length of Time Served4 | Business Experience and Directorships During the Past Five Years |
Hepsen Uzcan5 (1974)President and Chief Executive Officer, 2017–present | Fund Administration (Head since 2017), DWS; Secretary, DWS USA Corporation (2018–present); Assistant Secretary, DWS Distributors, Inc. (2018–present); Director and Vice President, DWS Service Company (2018–present); Assistant Secretary, DWS Investment Management Americas, Inc. (2018–present); Director and President, DB Investment Managers, Inc. (2018–present); President and Chief Executive Officer, The European Equity Fund, Inc., The New Germany Fund, Inc. and The Central and Eastern Europe Fund, Inc. (2017–present); formerly: Vice President for the Deutsche funds (2016–2017); Assistant Secretary for the DWS funds (2013–2019); Assistant Secretary, The European Equity Fund, Inc., The New Germany Fund, Inc. and The Central and Eastern Europe Fund, Inc. (2013–2020); Directorships: Interested Director, The European Equity Fund, Inc., The New Germany Fund, Inc. and The Central and Eastern Europe Fund, Inc. (since June 25, 2020); ICI Mutual Insurance Company (since October 16, 2020); and Episcopalian Charities of New York (2018–present) |
John Millette6 (1962)Vice President and Secretary, 1999–present | Legal (Associate General Counsel), DWS; Chief Legal Officer, DWS Investment Management Americas, Inc. (2015–present); Director and Vice President, DWS Trust Company (2016–present); Secretary, DBX ETF Trust (2020–present); Vice President, DBX Advisors LLC (2021–present); Secretary, The European Equity Fund, Inc., The New Germany Fund, Inc. and The Central and Eastern Europe Fund, Inc. 2011–present); formerly: Secretary, Deutsche Investment Management Americas Inc. (2015–2017); and Assistant Secretary, DBX ETF Trust (2019–2020) |
Ciara Crawford7 (1984)Assistant Secretary, (2019–present) | Fund Administration (Specialist), DWS (2015–present); formerly, Legal Assistant at Accelerated Tax Solutions. |
Diane Kenneally6 (1966)Chief Financial Officer and Treasurer, 2018–present | Fund Administration Treasurer’s Office (Co-Head since 2018), DWS; Treasurer, Chief Financial Officer and Controller, DBX ETF Trust (2019–present); Treasurer and Chief Financial Officer, The European Equity Fund, Inc., The New Germany Fund, Inc. and The Central and Eastern Europe Fund, Inc. (2018–present); formerly: Assistant Treasurer for the DWS funds (2007–2018) |
Paul Antosca6 (1957)Assistant Treasurer, 2007–present | Fund Administration Tax (Head), DWS; and Assistant Treasurer, DBX ETF Trust (2019–present) |
Sheila Cadogan6 (1966)Assistant Treasurer, 2017–present | Fund Administration Treasurer’s Office (Co-Head since 2018), DWS; Director and Vice President, DWS Trust Company (2018–present); Assistant Treasurer, DBX ETF Trust (2019–present); Assistant Treasurer, The European Equity Fund, Inc., The New Germany Fund, Inc. and The Central and Eastern Europe Fund, Inc. (2018–present) |
Scott D. Hogan6 (1970)Chief Compliance Officer, 2016–present | Anti-Financial Crime & Compliance US (Senior Team Lead), DWS; Chief Compliance Officer, The European Equity Fund, Inc., The New Germany Fund, Inc. and The Central and Eastern Europe Fund, Inc. (2016–present) |
46 | | | DWS Money Market Prime Series |
Name, Year of Birth, Position with the Trust/Corporation and Length of Time Served4 | Business Experience and Directorships During the Past Five Years |
Caroline Pearson6 (1962)Chief Legal Officer, 2010–present | Legal (Senior Team Lead), DWS; Assistant Secretary, DBX ETF Trust (2020–present); Chief Legal Officer, DBX Advisors LLC and DBX Strategic Advisors LLC (2020–present); Chief Legal Officer, The European Equity Fund, Inc., The New Germany Fund, Inc. and The Central and Eastern Europe Fund, Inc. (2012–present); formerly: Secretary, Deutsche AM Distributors, Inc. (2002–2017); and Secretary, Deutsche AM Service Company (2010–2017) |
Michelle Goveia-Pine5 (1970)Interim Anti-Money Laundering Compliance Officer, since July 10, 2020 | Anti-Financial Crime & Compliance US (Regional Head), DWS; Interim AML Officer, DWS Trust Company (since July 28, 2020); Interim AML Officer, DBX ETF Trust (since July 9, 2020); Interim AML Officer, The European Equity Fund, Inc., The New Germany Fund, Inc. and The Central and Eastern Europe Fund, Inc. (since July 24, 2020) |
1 | The length of time served represents the year in which the Board Member joined the board of one or more DWS funds currently overseen by the Board. |
2 | A publicly held company with securities registered pursuant to Section 12 of the Securities Exchange Act of 1934. |
3 | As a result of their respective positions held with the Advisor or its affiliates, these individuals are considered “interested persons” of the Advisor within the meaning of the 1940 Act. Interested persons receive no compensation from the Fund. |
4 | The length of time served represents the year in which the officer was first elected in such capacity for one or more DWS funds. |
5 | Address: 875 Third Avenue, New York, NY 10022. |
6 | Address: 100 Summer Street, Boston, MA 02110. |
7 | Address: 5022 Gate Parkway, Suite 400, Jacksonville, FL 32256. |
DWS Money Market Prime Series | | | 47 |
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 |
48 | | | 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 | | | 49 |
(b) Not applicable | |
ITEM 2. | CODE OF ETHICS |
As of the end of the period covered by this report, the registrant has adopted a code of ethics, as defined in Item 2 of Form N-CSR that applies to its Principal Executive Officer and Principal Financial Officer.
There have been no amendments to, or waivers from, a provision of the code of ethics during the period covered by this report that would require disclosure under Item 2.
A copy of the code of ethics is filed as an exhibit to this Form N-CSR. | |
ITEM 3. | AUDIT COMMITTEE FINANCIAL EXPERT |
The fund’s audit committee is comprised solely of trustees who are "independent" (as such term has been defined by the Securities and Exchange Commission ("SEC") in regulations implementing Section 407 of the Sarbanes-Oxley Act (the "Regulations")). The fund’s Board of Trustees has determined that there are several "audit committee financial experts" (as such term has been defined by the Regulations) serving on the fund’s audit committee including Mr. William McClayton, the chair of the fund’s audit committee. An “audit committee financial expert” is not an “expert” for any purpose, including for purposes of Section 11 of the Securities Act of 1933 and the designation or identification of a person as an “audit committee financial expert” does not impose on such person any duties, obligations or liability that are greater than the duties, obligations and liability imposed on such person as a member of the audit committee and board of directors in the absence of such designation or identification. | |
ITEM 4. | PRINCIPAL ACCOUNTANT FEES AND SERVICES |
DWS Money Market Prime Series
form n-csr disclosure re: AUDIT FEES
The following table shows the amount of fees that Ernst & Young LLP (“EY”), the Fund’s Independent Registered Public Accounting Firm, billed to the Fund during the Fund’s last two fiscal years. The Audit Committee approved in advance all audit services and non-audit services that EY provided to the Fund.
Services that the Fund’s Independent Registered Public Accounting Firm Billed to the Fund
Fiscal Year Ended July 31, | Audit Fees Billed to Fund | Audit-Related Fees Billed to Fund | Tax Fees Billed to Fund | All Other Fees Billed to Fund |
2021 | $31,433 | $0 | $7,880 | $0 |
2020 | $31,433 | $0 | $7,880 | $0 |
The above “Tax Fees” were billed for professional services rendered for tax preparation.
Services that the Fund’s Independent Registered Public Accounting Firm Billed to the Adviser and Affiliated Fund Service Providers
The following table shows the amount of fees billed by EY to DWS Investment Management Americas, Inc. (“DIMA” or the “Adviser”), and any entity controlling, controlled by or under common control with DIMA (“Control Affiliate”) that provides ongoing services to the Fund (“Affiliated Fund Service Provider”), for engagements directly related to the Fund’s operations and financial reporting, during the Fund’s last two fiscal years.
Fiscal Year Ended July 31, | Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers | Tax Fees Billed to Adviser and Affiliated Fund Service Providers | All Other Fees Billed to Adviser and Affiliated Fund Service Providers |
2021 | $0 | $92,492 | $0 |
2020 | $0 | $625,431 | $0 |
The above “Tax Fees” were billed in connection with tax compliance services and agreed upon procedures.
Non-Audit Services
The following table shows the amount of fees that EY billed during the Fund’s last two fiscal years for non-audit services. The Audit Committee pre-approved all non-audit services that EY provided to the Adviser and any Affiliated Fund Service Provider that related directly to the Fund’s operations and financial reporting. The Audit Committee requested and received information from EY about any non-audit services that EY rendered during the Fund’s last fiscal year to the Adviser and any Affiliated Fund Service Provider. The Committee considered this information in evaluating EY’s independence.
Fiscal Year Ended July 31, | Total Non-Audit Fees Billed to Fund (A) | Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (engagements related directly to the operations and financial reporting of the Fund) (B) | Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (all other engagements) (C) | Total of (A), (B) and (C) |
2021 | $7,880 | $92,492 | $0 | $100,372 |
2020 | $7,880 | $625,431 | $0 | $633,311 |
All other engagement fees were billed for services in connection with agreed upon procedures and tax compliance for DIMA and other related entities.
Audit Committee Pre-Approval Policies and Procedures. Generally, each Fund’s Audit Committee must pre approve (i) all services to be performed for a Fund by a Fund’s Independent Registered Public Accounting Firm and (ii) all non-audit services to be performed by a Fund’s Independent Registered Public Accounting Firm for the DIMA Entities with respect to operations and financial reporting of the Fund, except that the Chairperson or Vice Chairperson of each Fund’s Audit Committee may grant the pre-approval for non-audit services described in items (i) and (ii) above for non-prohibited services for engagements of less than $100,000. All such delegated pre approvals shall be presented to each Fund’s Audit Committee no later than the next Audit Committee meeting.
There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception under Rule 2-01 of Regulation S-X.
According to the registrant’s principal Independent Registered Public Accounting Firm, substantially all of the principal Independent Registered Public Accounting Firm's hours spent on auditing the registrant's financial statements were attributed to work performed by full-time permanent employees of the principal Independent Registered Public Accounting Firm.
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In connection with the audit of the 2020 and 2021 financial statements, the Fund entered into an engagement letter with EY. The terms of the engagement letter required by EY, and agreed to by the Audit Committee, include a provision mandating the use of mediation and arbitration to resolve any controversy or claim between the parties arising out of or relating to the engagement letter or services provided thereunder.
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Pursuant to PCAOB Rule 3526, EY is required to describe in writing to the Fund’s Audit Committee, on at least an annual basis, all relationships between EY, or any of its affiliates, and the DWS Funds, including the Fund, or persons in financial reporting oversight roles at the DWS Funds that, as of the date of the communication, may reasonably be thought to bear on EY’s independence. Pursuant to PCAOB Rule 3526, EY has reported the matters set forth below that may reasonably be thought to bear on EY’s independence. With respect to each reported matter in the aggregate, EY advised the Audit Committee that, after careful consideration of the facts and circumstances and the applicable independence rules, it concluded that the matters do not and will not impair EY’s ability to exercise objective and impartial judgement in connection with the audits of the financial statements for the Fund and a reasonable investor with knowledge of all relevant facts and circumstances would conclude that EY has been and is capable of exercising objective and impartial judgment on all issues encompassed within EY’s audit engagements. EY also confirmed to the Audit Committee that it can continue act as the Independent Registered Public Accounting Firm for the Fund.
· | EY advised the Fund’s Audit Committee that various covered persons within EY and EY’s affiliates held investments in, or had other financial relationships with, entities within the DWS Funds “investment company complex” (as defined in Regulation S-X) (the “DWS Funds Complex”). EY informed the Audit Committee that these investments and financial relationships were inconsistent with Rule 2-01(c)(1) of Regulation S-X. EY reported that all breaches have been resolved and that none of the breaches involved any professionals who were part of the audit engagement team for the Fund or in the position to influence the audit engagement team for the Fund. |
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) | Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH. | |
(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: | 9/29/2021 |
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: | 9/29/2021 |
By: | /s/Diane Kenneally Diane Kenneally Chief Financial Officer and Treasurer |
Date: | 9/29/2021 |