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: | 1/31/2023 |
ITEM 1. | REPORT TO STOCKHOLDERS |
(a) | |
Contents
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6 | |
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20 | |
29 | |
31 | |
35 |
NOT FDIC/NCUA INSURED NO BANK GUARANTEE MAY LOSE VALUE
NOT A DEPOSIT NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
2 | | | DWS Money Market Prime Series |
DWS Money Market Prime Series | | | 3 |
4 | | | DWS Money Market Prime Series |
Asset Allocation (As a % of Investment Portfolio) | 1/31/23 | 7/31/22 |
Commercial Paper | 50% | 59% |
Variable Rate Demand Notes | 17% | 16% |
Repurchase Agreements | 13% | 4% |
Certificates of Deposit and Bank Notes | 10% | 11% |
Time Deposits | 8% | 4% |
Variable Rate Demand Preferred Shares | 2% | 2% |
Government & Agency Obligations | 0% | 4% |
100% | 100% |
Weighted Average Maturity | 1/31/23 | 7/31/22 |
DWS Money Market Prime Series | 20 days | 17 days |
iMoneyNet Money Fund Average™ — First Tier Retail* | 17 days | 15 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 |
Principal Amount ($) | Value ($) | ||
Certificates of Deposit and Bank Notes 10.2% | |||
Bank of America NA, 5.04%, 8/16/2023 | 8,500,000 | 8,500,000 | |
Bank of Montreal, SOFR + 0.75%, 5.05% (a), 8/1/2023 | 8,500,000 | 8,500,000 | |
Bank of Nova Scotia, SOFR + 0.52%, 4.82% (a), 2/9/2023 | 5,000,000 | 5,000,000 | |
Barclays Bank PLC, SOFR + 0.57%, 4.87% (a), 2/10/2023 | 5,000,000 | 5,000,000 | |
Citibank NA, SOFR + 0.75%, 5.05% (a), 8/10/2023 | 5,000,000 | 5,000,000 | |
Commonwealth Bank of Australia, 5.2%, 1/29/2024 | 5,000,000 | 5,000,000 | |
Standard Chartered Bank, FEDL01 + 0.64%, 4.97% (a), 5/2/2023 | 7,000,000 | 7,000,000 | |
Svenska Handelsbanken, SOFR + 0.5%, 4.8% (a), 3/21/2023 | 6,281,000 | 6,281,000 | |
Toronto Dominion Bank: | |||
3.72%, 2/28/2023 | 5,000,000 | 5,000,000 | |
4.95% (a), 7/3/2023 | 5,000,000 | 5,000,000 | |
Total Certificates of Deposit and Bank Notes (Cost $60,281,000) | 60,281,000 | ||
Commercial Paper 49.8% | |||
Issued at Discount (b) 22.2% | |||
Alinghi Funding Co. LLC: | |||
3.873%, 3/21/2023 | 7,500,000 | 7,461,800 | |
5.242%, 7/13/2023 | 8,000,000 | 7,813,880 | |
Atlantic Asset Securitization LLC, 5.1%, 7/10/2023 | 5,000,000 | 4,888,921 | |
Banco Del Estado De Chile, 4.846%, 3/6/2023 | 5,000,000 | 4,978,092 | |
Barclays Bank PLC, 4.917%, 2/13/2023 | 7,180,000 | 7,168,392 | |
Chesham Finance Ltd., 4.37%, 2/1/2023 | 13,600,000 | 13,600,000 | |
DBS Bank Ltd., 5.1%, 6/16/2023 | 5,000,000 | 4,905,687 | |
Fairway Finance Co. LLC, 4.765%, 2/21/2023 | 12,000,000 | 11,968,667 | |
Glencove Funding LLC: | |||
4.279%, 2/1/2023 | 7,500,000 | 7,500,000 | |
4.35%, 2/3/2023 | 5,500,000 | 5,498,689 | |
Great Bear Funding LLC, 4.39%, 2/1/2023 | 13,600,000 | 13,600,000 | |
ING U.S. Funding LLC, 5.029%, 10/16/2023 | 5,000,000 | 4,822,956 | |
MetLife Short Term Funding LLC, 4.745%, 2/28/2023 | 7,500,000 | 7,473,675 | |
Nederlandse Waterschapsbank NV, 4.461%, 3/15/2023 | 5,000,000 | 4,974,333 | |
Pricoa Short Term Funding LLC: | |||
3.802%, 3/9/2023 | 5,000,000 | 4,981,250 | |
5.191%, 10/16/2023 | 5,000,000 | 4,817,244 |
6 | | | DWS Money Market Prime Series |
Principal Amount ($) | Value ($) | ||
Skandinaviska Enskilda Banken AB, 5.049%, 7/10/2023 | 5,000,000 | 4,890,025 | |
United Overseas Bank Ltd., 4.715%, 4/5/2023 | 10,000,000 | 9,918,625 | |
131,262,236 | |||
Issued at Par 27.6% | |||
Anglesea Funding LLC, 144A, OBFR01 + 0.45%, 4.77% (a), 5/10/2023 | 5,000,000 | 5,000,000 | |
ASB Bank Ltd.: | |||
144A, SOFR + 0.12%, 4.42% (a), 4/26/2023 | 5,000,000 | 5,000,000 | |
144A, SOFR + 0.24%, 4.54% (a), 3/13/2023 | 10,000,000 | 10,000,000 | |
144A, SOFR + 0.77%, 5.07% (a), 8/7/2023 | 7,500,000 | 7,500,000 | |
Bedford Row Funding Corp., 144A, SOFR + 0.55%, 4.85% (a), 2/6/2023 | 6,250,000 | 6,250,000 | |
BPCE SA, 144A, SOFR + 0.45%, 4.75% (a), 5/12/2023 | 5,000,000 | 5,000,000 | |
Citigroup Global Markets, Inc., 144A, SOFR + 0.78%, 5.15% (a), 5/25/2023 | 7,500,000 | 7,500,000 | |
Collateralized Commercial Paper Flex Co. LLC: | |||
144A, SOFR + 0.38%, 4.68% (a), 3/21/2023 | 5,000,000 | 5,000,000 | |
144A, 5.26%, 10/20/2023 | 2,500,000 | 2,500,000 | |
Collateralized Commercial Paper V Co. LLC: | |||
SOFR + 0.44%, 4.74% (a), 4/4/2023 | 9,508,000 | 9,508,000 | |
SOFR + 0.51%, 4.81% (a), 2/14/2023 | 6,600,000 | 6,600,000 | |
Credit Industriel et Commercial, 144A, SOFR + 0.51%, 4.81% (a), 6/6/2023 | 5,000,000 | 5,000,000 | |
Federation Des Caisses Desjardins Du Quebec, 144A, SOFR + 0.6%, 4.9% (a), 6/27/2023 | 3,500,000 | 3,500,000 | |
ING U.S. Funding LLC, 144A, SOFR + 0.69%, 4.99% (a), 6/5/2023 | 12,500,000 | 12,500,000 | |
Macquarie Bank Ltd.: | |||
144A, SOFR + 0.4%, 4.7% (a), 3/21/2023 | 10,000,000 | 10,000,000 | |
144A, SOFR + 0.73%, 5.03% (a), 5/1/2023 | 9,000,000 | 9,000,000 | |
Manhattan Asset Funding Co. LLC, 144A, SOFR + 0.6%, 4.9% (a), 2/13/2023 | 6,000,000 | 6,000,000 | |
Matchpoint Finance PLC, Series A, 144A, SOFR + 052%, 4.82% (a), 6/12/2023 | 5,000,000 | 5,000,000 | |
National Bank of Canada, 144A, SOFR + 0.67%, 4.97% (a), 4/26/2023 | 10,000,000 | 10,000,000 | |
Oversea-Chinese Banking Corp. Ltd., 144A, SOFR + 0.5%, 4.8% (a), 2/28/2023 | 8,500,000 | 8,500,000 | |
Skandinaviska Enskilda Banken AB, 144A, SOFR + 0.57%, 4.87% (a), 3/8/2023 | 5,000,000 | 5,000,000 | |
Thunder Bay Funding LLC: | |||
144A, FEDL01 + 0.24%, 4.57% (a), 4/18/2023 | 5,000,000 | 5,000,000 |
DWS Money Market Prime Series | | | 7 |
Principal Amount ($) | Value ($) | ||
144A, SOFR + 0.64%, 4.94% (a), 5/1/2023 | 5,500,000 | 5,500,000 | |
Toronto Dominion Bank, 144A, FEDL01 + 0.66%, 4.99% (a), 5/1/2023 | 8,500,000 | 8,500,000 | |
163,358,000 | |||
Total Commercial Paper (Cost $294,620,236) | 294,620,236 | ||
Variable Rate Demand Notes (c) 16.9% | |||
Alaska, State Housing Finance Corp., Series B, 4.4%, 2/7/2023 | 7,635,000 | 7,635,000 | |
Allen Country, OH, Hospital Facilities Revenue, Series C, 1.16%, 2/1/2023, LOC: Bank of Montreal | 85,000 | 85,000 | |
California, Infrastructure & Economic Development Bank, Industrial Development Revenue, Pleasant Mattress, Inc., Series A, AMT, 1.75%, 2/7/2023, LOC: Wells Fargo Bank NA | 100,000 | 100,000 | |
California, Mizuho Floater/Residual Trust, Series 2022-MIZ9110, 144A, 1.91%, 2/7/2023, LIQ: Mizuho Capital Markets LLC | 2,600,000 | 2,600,000 | |
California, University of California Revenue, Series Z-2, 4.32%, 2/7/2023 | 25,250,000 | 25,250,000 | |
Chicago, IL, International Airport Authority, Gary Jet Center Project, Series 2011, AMT, 1.7%, 2/7/2023, LOC: BMO Harris Bank NA | 1,930,000 | 1,930,000 | |
Clark County, NV, Airport System Subordinate Lien Revenue, Series D-2B, 1.7%, 2/7/2023, LOC: Barclays Bank PLC | 1,615,000 | 1,615,000 | |
Colorado, State Housing & Finance Authority, Series M-2, 4.34%, 2/7/2023 | 2,935,000 | 2,935,000 | |
Colorado, State Housing & Finance Authority, Multi-Family Housing Project, Series C, 4.32%, 2/7/2023, SPA: Federal Home Loan Bank | 7,800,000 | 7,800,000 | |
Columbus, OH, Regional Airport Authority, Capital Funding Revenue, Oasbo Expanded Asset, 1.68%, 2/7/2023, LOC: U.S. Bank NA | 570,000 | 570,000 | |
Georgia, Tender Option Bond Trust Receipts, Series 2018-XF0709, 144A, 1.72%, 2/7/2023, LIQ: JPMorgan Chase Bank NA | 1,500,000 | 1,500,000 | |
Hillsborough County, FL, Housing Finance Authority Multi-Family Revenue, Claymore Crossings Apartments, 1.79%, 2/7/2023, LOC: Citibank NA | 465,000 | 465,000 | |
Illinois, Finance Authority Revenue, OSF Healthcare System, Series C, 1.3%, 2/1/2023, LOC: PNC Bank NA | 450,000 | 450,000 | |
Illinois, State Finance Authority Revenue, The University of Chicago Medical Center, Series B, 1.25%, 2/1/2023, LOC: Wells Fargo Bank NA | 150,000 | 150,000 |
8 | | | DWS Money Market Prime Series |
Principal Amount ($) | Value ($) | ||
Iowa, Finance Authority, Educational Facility Revenue, Holy Family Catholic School Project, 1.27%, 2/1/2023, LOC: U.S. Bank NA | 100,000 | 100,000 | |
Issaquah Gateway SR Development LLC, Series A, 4.4%, 2/9/2023 | 11,000,000 | 11,000,000 | |
Lowell, AR, Industrial Development Revenue, Little Rock Newspapers, Inc., 1.71%, 2/7/2023, LOC: JPMorgan Chase Bank NA | 700,000 | 700,000 | |
Lynchburg, VA, Economic Development Authority, Hospital Revenue, Centra Health Obligated Group, Series B, 1.25%, 2/1/2023, LOC: Truist Bank | 100,000 | 100,000 | |
Massachusetts, State Health & Educational Facilities Authority Revenue, Series J-2, 1.58%, 2/7/2023 | 7,675,000 | 7,675,000 | |
Michigan, State Housing Development Authority Revenue, Series A, AMT, 1.7%, 2/7/2023, LOC: Barclays Bank PLC | 3,140,000 | 3,140,000 | |
Mission, TX, Economic Development Corp., Industrial Development Revenue, CMI Project, 1.85%, 2/7/2023, LOC: Wells Fargo Bank NA | 290,000 | 290,000 | |
Missouri, State Health & Educational Facilities Authority Revenue, St. Louis University, Series B-1, 1.25%, 2/1/2023, LOC: Barclays Bank PLC | 500,000 | 500,000 | |
New York, Metropolitan Transportation Authority Revenue, Series E-1, 1.25%, 2/1/2023, LOC: Barclays Bank PLC | 800,000 | 800,000 | |
New York, NY, General Obligation: | |||
Series D-4, 1.15%, 2/1/2023, LOC: TD Bank NA | 300,000 | 300,000 | |
Series I-4, 1.15%, 2/1/2023, LOC: TD Bank NA | 1,800,000 | 1,800,000 | |
Series B-3, 1.5%, 2/1/2023 | 3,200,000 | 3,200,000 | |
Oregon, State Facilities Authority Revenue, PeaceHealth Obligated Group, Series A, 1.21%, 2/1/2023, LOC: U.S. Bank NA | 500,000 | 500,000 | |
Oregon, State Facilities Authority Revenue, Peacehealth Systems, Series B, 1.2%, 2/1/2023, LOC: TD Bank NA | 450,000 | 450,000 | |
Port of Tacoma, WA, Subordinate Lien Revenue, Series A, AMT, 1.72%, 2/7/2023, LOC: PNC Bank NA | 5,000,000 | 5,000,000 | |
Sevier County, TN, Public Building Authority, Local Government Public Improvement Bonds, Series B-1, 1.68%, 2/7/2023 | 1,125,000 | 1,125,000 | |
Tarrant County, TX, Cultural Education Facilities Finance Corp., Baylor Health Care System Project, Series C, 1.2%, 2/1/2023, LOC: TD Bank NA | 100,000 | 100,000 | |
Tarrant County, TX, Cultural Education Facilities Finance Corp., Hospital Revenue, Methodist Hospitals of Dallas Project, Series A, 1.2%, 2/1/2023, LOC: TD Bank NA | 800,000 | 800,000 | |
Taxable Municipal Funding Trust, Series 2018-4, 144A, AMT, 4.56%, 2/7/2023, INS: AGMC | 1,280,000 | 1,280,000 |
DWS Money Market Prime Series | | | 9 |
Principal Amount ($) | Value ($) | ||
Texas, University of Texas Revenue, Financing System, Series G2, 4.3%, 2/7/2023, LIQ: University of Texas Investment Management Co. | 7,000,000 | 7,000,000 | |
Vermont, State Educational & Health Buildings Financing Agency Revenue, Landmark College Project, Series A, 1.31%, 2/1/2023, LOC: TD Bank NA | 100,000 | 100,000 | |
Wisconsin, State Health & Educational Facilities Authority Revenue, Marshfield Clinic Health System, Inc., Series A, 1.25%, 2/1/2023, LOC: Barclays Bank PLC | 500,000 | 500,000 | |
Wisconsin, University Hospitals & Clinics Authority, Series B, 1.21%, 2/1/2023, LOC: U.S. Bank NA | 275,000 | 275,000 | |
Total Variable Rate Demand Notes (Cost $99,820,000) | 99,820,000 | ||
Government & Agency Obligations 0.5% | |||
U.S. Treasury Obligations | |||
U.S. Treasury Bills: | |||
1.194% (b), 2/23/2023 | 1,500,000 | 1,498,929 | |
1.197% (b), 2/23/2023 | 1,500,000 | 1,498,927 | |
Total Government & Agency Obligations (Cost $2,997,856) | 2,997,856 | ||
Variable Rate Demand Preferred Shares (c) 1.8% | |||
Invesco Senior Income Trust, 144A, 4.62%, 2/7/2023 | 4,000,000 | 4,000,000 | |
Nuveen California Quality Municipal Income Fund: | |||
Series 7, 144A, AMT, 1.73%, LIQ: Royal Bank of Canada, 2/7/2023 | 3,500,000 | 3,500,000 | |
Series 6, 144A, AMT, 1.75%, LIQ: JPMorgan Chase Bank NA, 2/7/2023 | 700,000 | 700,000 | |
Series 1-1362, 144A, AMT, 1.75%, LIQ: Societe Generale, 2/7/2023 | 1,250,000 | 1,250,000 | |
Nuveen Municipal Credit Opportunities Fund, 144A, AMT, 1.76%, LOC: Sumitomo Mitsui Banking, 2/7/2023 | 1,450,000 | 1,450,000 | |
Total Variable Rate Demand Preferred Shares (Cost $10,900,000) | 10,900,000 | ||
Time Deposits 8.1% | |||
Canadian Imperial Bank of Commerce, 4.29%, 2/1/2023 | 24,000,000 | 24,000,000 | |
Mizuho Bank Ltd., 4.32%, 2/1/2023 | 24,000,000 | 24,000,000 | |
Total Time Deposits (Cost $48,000,000) | 48,000,000 |
10 | | | DWS Money Market Prime Series |
Principal Amount ($) | Value ($) | ||
Repurchase Agreements 12.5% | |||
Barclays Bank PLC, 4.3%, dated 1/31/2023, to be repurchased at $27,303,261 on 2/1/2023 (d) | 27,300,000 | 27,300,000 | |
BNP Paribas, 4.27%, dated 1/31/2023, to be repurchased at $19,341,294 on 2/1/2023 (e) | 19,339,000 | 19,339,000 | |
Wells Fargo Bank, 4.31%, dated 1/31/2023, to be repurchased at $27,703,316 on 2/1/2023 (f) | 27,700,000 | 27,700,000 | |
Total Repurchase Agreements (Cost $74,339,000) | 74,339,000 |
% of Net Assets | Value ($) | ||
Total Investment Portfolio (Cost $590,958,092) | 99.8 | 590,958,092 | |
Other Assets and Liabilities, Net | 0.2 | 1,167,136 | |
Net Assets | 100.0 | 592,125,228 |
(a) | Floating rate security. These securities are shown at their current rate as of January 31, 2023. |
(b) | Annualized yield at time of purchase; not a coupon rate. |
(c) | Variable rate demand notes and variable rate demand preferred shares are securities whose interest rates are reset periodically (usually daily mode or weekly mode) by remarketing agents based on current market levels, and are not directly set as a fixed spread to a reference rate. These securities may be redeemed at par by the holder through a put or tender feature, and are shown at their current rates as of January 31, 2023. Date shown reflects the earlier of demand date or stated maturity date. |
(d) | Collateralized by: |
Principal Amount ($) | Security | Rate (%) | Maturity Date | Collateral Value ($) |
26,315,900 | U.S. Treasury Notes | 4.125 | 11/15/2032 | 27,846,095 |
(e) | Collateralized by: |
Principal Amount ($) | Security | Rate (%) | Maturity Date | Collateral Value ($) |
6,852,400 | U.S. Treasury Notes | 1.5 | 9/30/2024 | 6,565,420 |
13,320,200 | U.S. Treasury Inflation-Indexed Notes | 1.125 | 1/15/2033 | 13,160,409 |
Total Collateral Value | 19,725,829 |
DWS Money Market Prime Series | | | 11 |
(f) | Collateralized by: |
Principal Amount ($) | Security | Rate (%) | Maturity Date | Collateral Value ($) |
28,169,189 | Federal National Mortgage Association | 2.00–7.00 | 5/1/2026–1/1/2053 | 28,254,000 |
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 |
INS: Insured |
LIQ: Liquidity Facility |
LOC: Letter of Credit |
OBFR01: Overnight Bank Funding Rate |
SOFR: Secured Overnight Financing Rate |
SPA: Standby Bond Purchase Agreement |
Assets | Level 1 | Level 2 | Level 3 | Total |
Investments in Securities (a) | $— | $516,619,092 | $— | $516,619,092 |
Repurchase Agreements | — | 74,339,000 | — | 74,339,000 |
Total | $— | $590,958,092 | $— | $590,958,092 |
(a) | See Investment Portfolio for additional detailed categorizations. |
12 | | | DWS Money Market Prime Series |
Assets | |
Investments in securities, valued at amortized cost | $ 516,619,092 |
Repurchase agreements, valued at amortized cost | 74,339,000 |
Cash | 58,595 |
Receivable for investments sold | 60,000 |
Receivable for Fund shares sold | 949,631 |
Interest receivable | 1,342,214 |
Other assets | 40,891 |
Total assets | 593,409,423 |
Liabilities | |
Payable for Fund shares redeemed | 442,023 |
Distributions payable | 372,176 |
Accrued management fee | 144,833 |
Accrued Trustees' fees | 5,916 |
Other accrued expenses and payables | 319,247 |
Total liabilities | 1,284,195 |
Net assets, at value | $592,125,228 |
Net Assets Consist of | |
Distributable earnings (loss) | (463,450) |
Paid-in capital | 592,588,678 |
Net assets, at value | $592,125,228 |
Net Asset Value | |
DWS Cash Investment Trust Class A | |
Net Asset Value, offering and redemption price per share ($34,822,241 ÷ 34,789,962 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 ($3,411,510 ÷ 3,408,352 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 ($155,727,396 ÷ 155,583,093 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 ($398,164,081 ÷ 397,795,757 outstanding shares of beneficial interest, no par value, unlimited number of shares authorized) | $ 1.00 |
DWS Money Market Prime Series | | | 13 |
Investment Income | |
Income: | |
Interest | $ 10,426,706 |
Expenses: | |
Management fee | 943,720 |
Administration fee | 291,144 |
Services to shareholders | 419,295 |
Distribution and service fees | 64,334 |
Custodian fee | 8,298 |
Professional fees | 33,986 |
Reports to shareholders | 39,406 |
Registration fees | 36,765 |
Trustees' fees and expenses | 13,254 |
Other | 19,328 |
Total expenses before expense reductions | 1,869,530 |
Expense reductions | (90,053) |
Total expenses after expense reductions | 1,779,477 |
Net investment income | 8,647,229 |
Net realized gain (loss) from investments | 1,421 |
Net increase (decrease) in net assets resulting from operations | $ 8,648,650 |
14 | | | DWS Money Market Prime Series |
Six Months Ended January 31, 2023 | Year Ended July 31, | |
Increase (Decrease) in Net Assets | (Unaudited) | 2022 |
Operations: | ||
Net investment income | $ 8,647,229 | $ 981,413 |
Net realized gain (loss) | 1,421 | 42 |
Net increase (decrease) in net assets resulting from operations | 8,648,650 | 981,455 |
Distributions to shareholders: | ||
DWS Cash Investment Trust Class A | (494,013) | (38,239) |
DWS Cash Investment Trust Class C | (37,844) | (657) |
DWS Cash Investment Trust Class S | (2,396,424) | (268,622) |
DWS Money Market Fund | (6,084,385) | (673,895) |
Total distributions | (9,012,666) | (981,413) |
Fund share transactions: | ||
Proceeds from shares sold | 84,095,899 | 190,357,444 |
Reinvestment of distributions | 8,564,969 | 835,807 |
Payments for shares redeemed | (102,574,119) | (227,909,264) |
Net increase (decrease) in net assets from Fund share transactions | (9,913,251) | (36,716,013) |
Increase (decrease) in net assets | (10,277,267) | (36,715,971) |
Net assets at beginning of period | 602,402,495 | 639,118,466 |
Net assets at end of period | $592,125,228 | $602,402,495 |
DWS Money Market Prime Series | | | 15 |
DWS Money Market Prime Series — DWS Cash Investment Trust Class A | ||||||
Six Months Ended 1/31/23 | Years Ended July 31, | |||||
(Unaudited) | 2022 | 2021 | 2020 | 2019 | 2018 | |
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 | .013 | .001 | .000* | .008 | .017 | .009 |
Net realized gain (loss) | .000* | .000* | .000* | (.000)* | .000* | (.000)* |
Total from investment operations | .013 | .001 | .000* | .008 | .017 | .009 |
Less distributions from: | ||||||
Net investment income | (.014) | (.001) | (.000)* | (.009) | (.017) | (.009) |
Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return (%) | 1.40** | .10a | .01a | .90a | 1.71 | .89 |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 35 | 37 | 36 | 38 | 31 | 33 |
Ratio of expenses before expense reductions (%) | .84*** | .83 | .82 | .82 | .82 | .80 |
Ratio of expenses after expense reductions (%) | .84*** | .36 | .24 | .75 | .82 | .80 |
Ratio of net investment income (%) | 2.62*** | .11 | .01 | .78 | 1.69 | .86 |
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 C | ||||||
Six Months Ended 1/31/23 | Years Ended July 31, | |||||
(Unaudited) | 2022 | 2021 | 2020 | 2019 | 2018 | |
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 | .009 | .000* | .000* | .003 | .010 | .002 |
Net realized gain (loss) | .000* | .000* | .000* | (.000)* | .000* | (.000)* |
Total from investment operations | .009 | .000* | .000* | .003 | .010 | .002 |
Less distributions from: | ||||||
Net investment income | (.010) | (.000)* | (.000)* | (.004) | (.010) | (.002) |
Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return (%) | 1.02** | .02a | .01a | .39a | .99 | .23a |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 3 | 4 | 5 | 8 | 8 | 21 |
Ratio of expenses before expense reductions (%) | 1.58*** | 1.56 | 1.53 | 1.54 | 1.54 | 1.54 |
Ratio of expenses after expense reductions (%) | 1.58*** | .44 | .25 | 1.24 | 1.54 | 1.47 |
Ratio of net investment income (%) | 1.83*** | .02 | .01 | .33 | .93 | .23 |
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 Cash Investment Trust Class S | ||||||
Six Months Ended 1/31/23 | Years Ended July 31, | |||||
(Unaudited) | 2022 | 2021 | 2020 | 2019 | 2018 | |
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 | .014 | .002 | .000* | .010 | .020 | .011 |
Net realized gain (loss) | .000* | .000* | .000* | (.000)* | .000* | (.000)* |
Total from investment operations | .014 | .002 | .000* | .010 | .020 | .011 |
Less distributions from: | ||||||
Net investment income | (.015) | (.002) | (.000)* | (.011) | (.020) | (.011) |
Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return (%)a | 1.54** | .17 | .01 | 1.11 | 1.97 | 1.12 |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 156 | 157 | 168 | 177 | 179 | 181 |
Ratio of expenses before expense reductions (%) | .63*** | .62 | .60 | .59 | .59 | .60 |
Ratio of expenses after expense reductions (%) | .57*** | .29 | .24 | .55 | .57 | .57 |
Ratio of net investment income (%) | 2.91*** | .17 | .01 | 1.05 | 1.95 | 1.11 |
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 |
DWS Money Market Prime Series — DWS Money Market Fund | ||||||
Six Months Ended 1/31/23 | Years Ended July 31, | |||||
(Unaudited) | 2022 | 2021 | 2020 | 2019 | 2018 | |
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 | .014 | .002 | .000* | .010 | .020 | .011 |
Net realized gain (loss) | .000* | .000* | .000* | (.000)* | .000* | (.000)* |
Total from investment operations | .014 | .002 | .000* | .010 | .020 | .011 |
Less distributions from: | ||||||
Net investment income | (.015) | (.002) | (.000)* | (.011) | (.020) | (.011) |
Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return (%) | 1.54a** | .17a | .01a | 1.11a | 1.98 | 1.12a |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 398 | 403 | 429 | 475 | 488 | 510 |
Ratio of expenses before expense reductions (%) | .59*** | .58 | .56 | .56 | .55 | .58 |
Ratio of expenses after expense reductions (%) | .57*** | .29 | .24 | .55 | .55 | .57 |
Ratio of net investment income (%) | 2.90*** | .16 | .01 | 1.05 | 1.96 | 1.11 |
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 | | | 19 |
20 | | | DWS Money Market Prime Series |
DWS Money Market Prime Series | | | 21 |
22 | | | DWS Money Market Prime Series |
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% |
DWS Cash Investment Trust Class S | $ 48,442 |
DWS Money Market Fund | 41,611 |
$ 90,053 |
DWS Money Market Prime Series | | | 23 |
Services to Shareholders | Total Aggregated | Unpaid at January 31, 2023 |
DWS Cash Investment Trust Class A | $ 15,066 | $ 5,109 |
DWS Cash Investment Trust Class C | 1,489 | 458 |
DWS Cash Investment Trust Class S | 104,847 | 36,518 |
DWS Money Market Fund | 186,494 | 65,801 |
$ 307,896 | $ 107,886 |
Sub-Recordkeeping | Total Aggregated |
DWS Cash Investment Trust Class A | $ 2,343 |
DWS Cash Investment Trust Class C | 119 |
DWS Cash Investment Trust Class S | 1,985 |
DWS Money Market Fund | 3,414 |
$ 7,861 |
24 | | | DWS Money Market Prime Series |
Distribution Fee | Total Aggregated | Unpaid at January 31, 2023 |
DWS Cash Investment Trust Class C | $ 14,567 | $ 2,172 |
Service Fee | Total Aggregated | Unpaid at January 31, 2023 | Annualized Rate |
DWS Cash Investment Trust Class A | $ 44,911 | $ 7,444 | .25% |
DWS Cash Investment Trust Class C | 4,856 | 724 | .25% |
$ 49,767 | $ 8,168 |
DWS Money Market Prime Series | | | 25 |
Six Months Ended January 31, 2023 | Year Ended July 31, 2022 | |||
Shares | Dollars | Shares | Dollars | |
Shares sold | ||||
DWS Cash Investment Trust Class A | 4,070,848 | $ 4,070,848 | 10,596,330 | $ 10,616,156 |
DWS Cash Investment Trust Class C | 88,686 | 88,686 | 1,812,423 | 1,813,914 |
DWS Cash Investment Trust Class S | 20,015,514 | 20,015,514 | 45,779,310 | 45,849,608 |
DWS Money Market Fund | 59,847,021 | 59,847,021 | 131,814,134 | 131,996,999 |
Account maintenance fees | — | 73,830 | — | 80,767 |
$ 84,095,899 | $ 190,357,444 | |||
Shares issued to shareholders in reinvestment of distributions | ||||
DWS Cash Investment Trust Class A | 475,022 | $ 475,022 | 31,755 | $ 31,755 |
DWS Cash Investment Trust Class C | 35,738 | 35,738 | 428 | 428 |
DWS Cash Investment Trust Class S | 2,277,213 | 2,277,213 | 229,392 | 229,392 |
DWS Money Market Fund | 5,776,996 | 5,776,996 | 574,232 | 574,232 |
$ 8,564,969 | $ 835,807 |
26 | | | DWS Money Market Prime Series |
Six Months Ended January 31, 2023 | Year Ended July 31, 2022 | |||
Shares | Dollars | Shares | Dollars | |
Shares redeemed | ||||
DWS Cash Investment Trust Class A | (6,879,968) | $ (6,879,968) | (9,546,383) | $ (9,546,383) |
DWS Cash Investment Trust Class C | (1,081,092) | (1,081,092) | (2,643,098) | (2,643,098) |
DWS Cash Investment Trust Class S | (23,847,442) | (23,847,442) | (57,097,225) | (57,097,225) |
DWS Money Market Fund | (70,765,617) | (70,765,617) | (158,622,558) | (158,622,558) |
$ (102,574,119) | $ (227,909,264) | |||
Net increase (decrease) | ||||
DWS Cash Investment Trust Class A | (2,334,098) | $ (2,334,098) | 1,081,702 | $ 1,101,528 |
DWS Cash Investment Trust Class C | (956,668) | (956,668) | (830,247) | (828,756) |
DWS Cash Investment Trust Class S | (1,554,715) | (1,554,715) | (11,088,523) | (11,018,225) |
DWS Money Market Fund | (5,141,600) | (5,141,600) | (26,234,192) | (26,051,327) |
Account maintenance fees | — | 73,830 | — | 80,767 |
$ (9,913,251) | $ (36,716,013) |
DWS Money Market Prime Series | | | 27 |
28 | | | DWS Money Market Prime Series |
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 8/1/22 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value 1/31/23 | $1,014.00 | $1,010.24 | $1,015.40 | $1,015.39 |
Expenses Paid per $1,000* | $4.26 | $8.01 | $2.90 | $2.90 |
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 8/1/22 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value 1/31/23 | $1,020.97 | $1,017.24 | $1,022.33 | $1,022.33 |
Expenses Paid per $1,000* | $4.28 | $8.03 | $2.91 | $2.91 |
* | 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 | .84% | 1.58% | .57% | .57% |
30 | | | DWS Money Market Prime Series |
DWS Money Market Prime Series | | | 31 |
32 | | | DWS Money Market Prime Series |
DWS Money Market Prime Series | | | 33 |
34 | | | DWS Money Market Prime Series |
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 | DWS PO 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 |
DWS Money Market Prime Series | | | 35 |
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 |
36 | | | DWS Money Market Prime Series |
(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: | 3/31/2023 |
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: | 3/31/2023 |
By: | /s/Diane Kenneally Diane Kenneally Chief Financial Officer and Treasurer |
Date: | 3/31/2023 |