UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM N-CSRS
Investment Company Act file number: 811-00043
Deutsche DWS Investment Trust
(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: | 9/30 |
Date of reporting period: | 3/31/2023 |
ITEM 1. | REPORT TO STOCKHOLDERS |
(a) | |
Contents
NOT FDIC/NCUA INSURED NO BANK GUARANTEE MAY LOSE VALUE
NOT A DEPOSIT NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
2 | | | DWS Small Cap Core Fund |
DWS Small Cap Core Fund | | | 3 |
Class A | 6-Month‡ | 1-Year | 5-Year | 10-Year |
Average Annual Total Returns as of 3/31/23 | ||||
Unadjusted for Sales Charge | 6.03% | –5.91% | 8.30% | 9.79% |
Adjusted for the Maximum Sales Charge (max 5.75% load) | –0.07% | –11.32% | 7.02% | 9.14% |
Russell 2000® Index† | 9.14% | –11.61% | 4.71% | 8.04% |
S&P SmallCap 600® Index†† | 12.00% | –8.82% | 6.30% | 9.87% |
Class C | 6-Month‡ | 1-Year | 5-Year | 10-Year |
Average Annual Total Returns as of 3/31/23 | ||||
Unadjusted for Sales Charge | 5.61% | –6.62% | 7.47% | 8.97% |
Adjusted for the Maximum Sales Charge (max 1.00% CDSC) | 4.61% | –6.62% | 7.47% | 8.97% |
Russell 2000® Index† | 9.14% | –11.61% | 4.71% | 8.04% |
S&P SmallCap 600® Index†† | 12.00% | –8.82% | 6.30% | 9.87% |
Class R6 | 6-Month‡ | 1-Year | 5-Year | Life of Class* |
Average Annual Total Returns as of 3/31/23 | ||||
No Sales Charges | 6.22% | –5.58% | 8.64% | 10.34% |
Russell 2000® Index† | 9.14% | –11.61% | 4.71% | 8.17% |
S&P SmallCap 600® Index†† | 12.00% | –8.82% | 6.30% | 9.44% |
Class S | 6-Month‡ | 1-Year | 5-Year | 10-Year |
Average Annual Total Returns as of 3/31/23 | ||||
No Sales Charges | 6.16% | –5.65% | 8.54% | 10.05% |
Russell 2000® Index† | 9.14% | –11.61% | 4.71% | 8.04% |
S&P SmallCap 600® Index†† | 12.00% | –8.82% | 6.30% | 9.87% |
Institutional Class | 6-Month‡ | 1-Year | 5-Year | Life of Class* |
Average Annual Total Returns as of 3/31/23 | ||||
No Sales Charges | 6.19% | –5.61% | 8.59% | 10.31% |
Russell 2000® Index† | 9.14% | –11.61% | 4.71% | 8.17% |
S&P SmallCap 600® Index†† | 12.00% | –8.82% | 6.30% | 9.44% |
4 | | | DWS Small Cap Core Fund |
DWS Small Cap Core Fund | | | 5 |
* | Class R6 and Institutional Class shares commenced operations on June 1, 2016. |
† | Russell 2000® Index is an unmanaged, capitalization-weighted measure of approximately 2,000 of the smallest companies in the Russell 3000® Index. The Russell 3000® Index is an unmanaged index that measures the performance of the 3,000 largest U.S. companies based on total market capitalization, which represents approximately 98% of the investable U.S. equity market. |
†† | S&P SmallCap 600® Index seeks to measure the small-cap segment of the U.S. equity market. The index is designed to track companies that meet specific inclusion criteria to ensure that they are liquid and financially viable. The Advisor believes the additional S&P SmallCap 600 Index, added on February 1, 2021, aligns with the Fund’s investment strategy and provides an additional reference to better explain the Fund’s performance. |
‡ | Total returns shown for periods less than one year are not annualized. |
Class A | Class C | Class R6 | Class S | Institutional Class | |
Net Asset Value | |||||
3/31/23 | $39.95 | $31.78 | $42.04 | $42.03 | $42.01 |
9/30/22 | $38.00 | $30.39 | $40.04 | $40.02 | $40.00 |
Distribution Information as of 3/31/23 | |||||
Income Dividends, Six Months | $.02 | $— | $.17 | $.13 | $.15 |
Capital Gain Distributions | $.31 | $.31 | $.31 | $.31 | $.31 |
6 | | | DWS Small Cap Core Fund |
DWS Small Cap Core Fund | | | 7 |
Asset Allocation (As a % of Investment Portfolio excluding Securities Lending Collateral) | 3/31/23 | 9/30/22 |
Common Stocks | 83% | 86% |
Cash Equivalents | 13% | 10% |
Put Options Purchased | 4% | 4% |
Other Investments | 0% | — |
Convertible Bonds | — | 0% |
100% | 100% |
Sector Diversification (As a % of Investment Portfolio excluding Options Purchased, Securities Lending Collateral and Cash Equivalents) | 3/31/23 | 9/30/22 |
Industrials | 16% | 17% |
Health Care | 15% | 18% |
Financials | 15% | 14% |
Energy | 13% | 12% |
Consumer Discretionary | 9% | 10% |
Information Technology | 7% | 9% |
Materials | 6% | 4% |
Utilities | 5% | 6% |
Real Estate | 5% | 5% |
Communication Services | 5% | 4% |
Consumer Staples | 4% | 1% |
100% | 100% |
8 | | | DWS Small Cap Core Fund |
Ten Largest Equity Holdings at March 31, 2023 (24.1% of Net Assets) | |
1Veritiv Corp. | 4.4% |
Provider of print, packaging, facility, and logistics solutions | |
2Stride, Inc. | 3.1% |
Provider of technology-based education | |
3Cross Country Healthcare, Inc. | 2.9% |
Provider of healthcare staffing services in the U.S. | |
4PNM Resources, Inc. | 2.3% |
Provider of electricity through its subsidiaries | |
5Cleveland-Cliffs, Inc. | 2.2% |
Manufacturer of custom-made pellets and hot briquetted iron | |
6IDACORP, Inc. | 2.0% |
Seller of electric energy | |
7Alpha Metallurgical Resources, Inc. | 2.0% |
Provider of mining services | |
8Builders FirstSource, Inc. | 1.9% |
Manufacturer and distributor of building products to professional homebuilders | |
9Iridium Communications, Inc. | 1.7% |
Provider of mobile satellite communications services | |
10OFG Bancorp. | 1.6% |
Provider of banking and financial services |
DWS Small Cap Core Fund | | | 9 |
Shares | Value ($) | ||
Common Stocks 83.0% | |||
Communication Services 4.2% | |||
Diversified Telecommunication Services 2.7% | |||
IDT Corp. “B” * | 135,000 | 4,600,800 | |
Iridium Communications, Inc. | 150,000 | 9,289,500 | |
Liberty Latin America Ltd. “C” * | 51,111 | 422,177 | |
14,312,477 | |||
Interactive Media & Services 0.9% | |||
Ziff Davis, Inc.* | 65,000 | 5,073,250 | |
Media 0.6% | |||
Thryv Holdings, Inc.* | 135,000 | 3,113,100 | |
Consumer Discretionary 7.2% | |||
Automobile Components 0.5% | |||
Linamar Corp. | 50,000 | 2,405,845 | |
Diversified Consumer Services 3.1% | |||
Stride, Inc.* | 425,000 | 16,681,250 | |
Hotels, Restaurants & Leisure 1.6% | |||
International Game Technology PLC | 175,000 | 4,690,000 | |
Papa John’s International, Inc. | 55,000 | 4,121,150 | |
8,811,150 | |||
Household Durables 1.6% | |||
Installed Building Products, Inc. | 55,000 | 6,271,650 | |
LGI Homes, Inc.* | 20,000 | 2,280,600 | |
8,552,250 | |||
Specialty Retail 0.4% | |||
Camping World Holdings, Inc. “A” (a) | 100,000 | 2,087,000 | |
Consumer Staples 3.2% | |||
Consumer Staples Distribution & Retail 1.6% | |||
Sprouts Farmers Market, Inc.* | 230,000 | 8,056,900 | |
The Andersons, Inc. | 14,231 | 588,025 | |
8,644,925 | |||
Food Products 0.5% | |||
Post Holdings, Inc.* | 30,000 | 2,696,100 | |
Personal Products 0.7% | |||
Medifast, Inc. | 34,000 | 3,524,780 |
10 | | | DWS Small Cap Core Fund |
Shares | Value ($) | ||
Tobacco 0.4% | |||
Vector Group Ltd. | 200,000 | 2,402,000 | |
Energy 11.1% | |||
Energy Equipment & Services 0.9% | |||
Liberty Energy, Inc. | 150,000 | 1,921,500 | |
Noble Corp. PLC* | 75,000 | 2,960,250 | |
4,881,750 | |||
Oil, Gas & Consumable Fuels 10.2% | |||
Antero Resources Corp.* | 250,000 | 5,772,500 | |
Arch Resources, Inc. | 50,000 | 6,573,000 | |
California Resources Corp. | 110,000 | 4,235,000 | |
Civitas Resources, Inc. | 45,000 | 3,075,300 | |
Crescent Energy Co. “A” | 650,000 | 7,351,500 | |
Kosmos Energy Ltd.* | 500,000 | 3,720,000 | |
Northern Oil and Gas, Inc. (a) | 100,000 | 3,035,000 | |
PBF Energy, Inc. “A” | 175,000 | 7,588,000 | |
PDC Energy, Inc. | 80,000 | 5,134,400 | |
Peabody Energy Corp.* | 325,000 | 8,320,000 | |
54,804,700 | |||
Financials 12.2% | |||
Banks 4.8% | |||
Cadence Bank | 172,500 | 3,581,100 | |
First BanCorp. | 475,000 | 5,424,500 | |
Hancock Whitney Corp. | 85,000 | 3,094,000 | |
OFG Bancorp. | 340,000 | 8,479,600 | |
The Bancorp, Inc.* | 116,182 | 3,235,669 | |
UMB Financial Corp. | 35,000 | 2,020,200 | |
25,835,069 | |||
Capital Markets 1.4% | |||
Avantax, Inc.* | 227,871 | 5,997,565 | |
Moelis & Co. “A” | 50,000 | 1,922,000 | |
7,919,565 | |||
Financial Services 5.0% | |||
Cantaloupe, Inc.* | 1,200,000 | 6,840,000 | |
Essent Group Ltd. | 170,000 | 6,808,500 | |
EVERTEC, Inc. | 220,000 | 7,425,000 | |
Walker & Dunlop, Inc. | 75,000 | 5,712,750 | |
26,786,250 |
DWS Small Cap Core Fund | | | 11 |
Shares | Value ($) | ||
Insurance 1.0% | |||
Selective Insurance Group, Inc. | 55,000 | 5,243,150 | |
Health Care 12.8% | |||
Biotechnology 0.5% | |||
BioAtla, Inc.* | 250,000 | 670,000 | |
Travere Therapeutics, Inc.* | 96,600 | 2,172,534 | |
2,842,534 | |||
Health Care Equipment & Supplies 1.7% | |||
Lantheus Holdings, Inc.* | 100,000 | 8,256,000 | |
OraSure Technologies, Inc.* | 150,000 | 907,500 | |
9,163,500 | |||
Health Care Providers & Services 7.9% | |||
AMN Healthcare Services, Inc.* | 50,000 | 4,148,000 | |
Brookdale Senior Living, Inc.* | 600,000 | 1,770,000 | |
Cross Country Healthcare, Inc.* | 700,000 | 15,624,000 | |
ModivCare, Inc.* | 36,032 | 3,029,570 | |
Molina Healthcare, Inc.* | 18,000 | 4,814,820 | |
Option Care Health, Inc.* | 200,000 | 6,354,000 | |
Owens & Minor, Inc.* | 130,000 | 1,891,500 | |
RadNet, Inc.* | 187,500 | 4,693,125 | |
42,325,015 | |||
Health Care Technology 0.0% | |||
Pear Therapeutics, Inc.* | 350,000 | 89,250 | |
Life Sciences Tools & Services 0.9% | |||
Azenta, Inc.* | 100,000 | 4,462,000 | |
OmniAb, Inc.* | 98,001 | 360,644 | |
4,822,644 | |||
Pharmaceuticals 1.8% | |||
Axsome Therapeutics, Inc.* | 40,000 | 2,467,200 | |
Ligand Pharmaceuticals, Inc.* | 57,189 | 4,206,823 | |
Pacira BioSciences, Inc.* | 70,000 | 2,856,700 | |
9,530,723 | |||
Industrials 12.9% | |||
Aerospace & Defense 1.0% | |||
Ducommun, Inc.* | 95,000 | 5,197,450 |
12 | | | DWS Small Cap Core Fund |
Shares | Value ($) | ||
Building Products 2.8% | |||
AZEK Co., Inc.* | 200,000 | 4,708,000 | |
Builders FirstSource, Inc.* | 115,000 | 10,209,700 | |
14,917,700 | |||
Commercial Services & Supplies 0.5% | |||
The Brink’s Co. | 39,000 | 2,605,200 | |
Electrical Equipment 0.6% | |||
Allied Motion Technologies, Inc. | 25,000 | 966,250 | |
Thermon Group Holdings, Inc.* | 100,000 | 2,492,000 | |
3,458,250 | |||
Professional Services 0.2% | |||
Mistras Group, Inc.* | 156,100 | 1,058,358 | |
Trading Companies & Distributors 7.8% | |||
H&E Equipment Services, Inc. | 110,000 | 4,865,300 | |
Rush Enterprises, Inc. “A” | 140,000 | 7,644,000 | |
Titan Machinery, Inc.* | 200,000 | 6,090,000 | |
Veritiv Corp. | 174,767 | 23,618,012 | |
42,217,312 | |||
Information Technology 6.0% | |||
Communications Equipment 1.0% | |||
Calix, Inc.* | 100,000 | 5,359,000 | |
Electronic Equipment, Instruments & Components 0.2% | |||
Benchmark Electronics, Inc. | 44,075 | 1,044,137 | |
Semiconductors & Semiconductor Equipment 1.2% | |||
Kulicke & Soffa Industries, Inc. | 125,000 | 6,586,250 | |
Software 3.6% | |||
Agilysys, Inc.* | 100,000 | 8,251,000 | |
Box, Inc. “A” * | 185,000 | 4,956,150 | |
Consensus Cloud Solutions, Inc.* | 26,666 | 909,044 | |
CoreCard Corp.* | 19,005 | 572,620 | |
Verint Systems, Inc.* | 125,000 | 4,655,000 | |
19,343,814 | |||
Materials 4.9% | |||
Chemicals 0.7% | |||
Huntsman Corp. | 100,000 | 2,736,000 | |
Tronox Holdings PLC “A” | 70,000 | 1,006,600 | |
3,742,600 |
DWS Small Cap Core Fund | | | 13 |
Shares | Value ($) | ||
Metals & Mining 4.2% | |||
Alpha Metallurgical Resources, Inc. | 67,000 | 10,452,000 | |
Cleveland-Cliffs, Inc.* | 650,000 | 11,914,500 | |
22,366,500 | |||
Real Estate 4.2% | |||
Health Care REITs 0.5% | |||
Community Healthcare Trust, Inc. | 65,000 | 2,379,000 | |
Residential REITs 0.9% | |||
Veris Residential, Inc. * | 343,847 | 5,033,920 | |
Retail REITs 1.2% | |||
Phillips Edison & Co., Inc. | 200,000 | 6,524,000 | |
Specialized REITs 1.6% | |||
Farmland Partners, Inc. | 600,000 | 6,420,000 | |
PotlatchDeltic Corp. | 46,000 | 2,277,000 | |
8,697,000 | |||
Utilities 4.3% | |||
Electric Utilities | |||
IDACORP, Inc. | 100,000 | 10,833,000 | |
PNM Resources, Inc. | 250,000 | 12,170,000 | |
23,003,000 | |||
Total Common Stocks (Cost $322,650,014) | 446,081,768 | ||
Other Investments 0.0% | |||
Energy 0.0% | |||
Oil, Gas & Consumable Fuels 0.0% | |||
ION Geophysical Corp. Escrow* (b) | 1,133,000 | 95,399 | |
Health Care 0.0% | |||
Life Sciences Tools & Services 0.0% | |||
OmniAb, Inc. $12.50 Earnout* (b) (c) | 7,584 | 0 | |
OmniAb, Inc. $15.00 Earnout* (b) (c) | 7,584 | 0 | |
Total Other Investments (Cost $887,417) | 95,399 |
14 | | | DWS Small Cap Core Fund |
Contracts/ Notional Amount | Value ($) | ||
Put Options Purchased 4.0% | |||
Exchange-Traded Options | |||
iShares Russell 2000 ETF, Expiration Date 6/30/2023, Strike Price $175.0 | 1,000 100,000 | 624,000 | |
iShares Russell 2000 ETF, Expiration Date 12/15/2023, Strike Price $180.0 | 4,000 400,000 | 5,228,000 | |
iShares Russell 2000 ETF, Expiration Date 12/15/2023, Strike Price $170.0 | 3,000 300,000 | 2,742,000 | |
iShares Russell 2000 ETF, Expiration Date 12/15/2023, Strike Price $190.0 | 3,000 300,000 | 5,172,000 | |
iShares Russell 2000 ETF, Expiration Date 1/19/2024, Strike Price $180.0 | 5,500 550,000 | 7,524,000 | |
Total Put Options Purchased (Cost $21,781,169) | 21,290,000 |
Shares | Value ($) | ||
Securities Lending Collateral 0.8% | |||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares” , 4.66% (d) (e) (Cost $4,125,000) | 4,125,000 | 4,125,000 | |
Cash Equivalents 13.0% | |||
DWS Central Cash Management Government Fund, 4.78% (d) (Cost $70,014,057) | 70,014,057 | 70,014,057 |
% of Net Assets | Value ($) | ||
Total Investment Portfolio (Cost $419,457,657) | 100.8 | 541,606,224 | |
Other Assets and Liabilities, Net | (0.8 ) | (4,470,322 ) | |
Net Assets | 100.0 | 537,135,902 |
DWS Small Cap Core Fund | | | 15 |
Value ($) at 9/30/2022 | Pur- chases Cost ($) | Sales Proceeds ($) | Net Real- ized Gain/ (Loss) ($) | Net Change in Unreal- ized Appreci- ation (Depreci- ation) ($) | Income ($) | Capital Gain Distri- butions ($) | Number of Shares at 3/31/2023 | Value ($) at 3/31/2023 |
Securities Lending Collateral 0.8% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares” , 4.66% (d) (e) | ||||||||
12,818,779 | — | 8,693,779 (f) | — | — | 79,336 | — | 4,125,000 | 4,125,000 |
Cash Equivalents 13.0% | ||||||||
DWS Central Cash Management Government Fund, 4.78% (d) | ||||||||
42,283,024 | 117,460,377 | 89,729,344 | — | — | 1,225,079 | — | 70,014,057 | 70,014,057 |
55,101,803 | 117,460,377 | 98,423,123 | — | — | 1,304,415 | — | 74,139,057 | 74,139,057 |
* | Non-income producing security. |
(a) | All or a portion of these securities were on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The value of securities loaned at March 31, 2023 amounted to $4,151,748, which is 0.8% of net assets. |
(b) | Investment was valued using significant unobservable inputs. |
(c) | Earnout Shares: Will vest based upon the achievement of certain volume-weighted average trading prices (VWAP) for shares of OmniAb Inc. Earnout Shares are not transferrable until the vesting condition for the applicable tranche of Earnout Shares has been achieved. |
(d) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(e) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
(f) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended March 31, 2023. |
REIT: Real Estate Investment Trust |
16 | | | DWS Small Cap Core Fund |
Assets | Level 1 | Level 2 | Level 3 | Total |
Common Stocks (a) | $446,081,768 | $— | $— | $446,081,768 |
Other Investments | — | — | 95,399 | 95,399 |
Put Options Purchased | 21,290,000 | — | — | 21,290,000 |
Short-Term Investments (a) | 74,139,057 | — | — | 74,139,057 |
Total | $541,510,825 | $— | $95,399 | $541,606,224 |
(a) | See Investment Portfolio for additional detailed categorizations. |
DWS Small Cap Core Fund | | | 17 |
Assets | |
Investments in non-affiliated securities, at value (cost $345,318,600) — including $4,151,748 of securities loaned | $467,467,167 |
Investment in DWS Government & Agency Securities Portfolio (cost $4,125,000)* | 4,125,000 |
Investment in DWS Central Cash Management Government Fund (cost $70,014,057) | 70,014,057 |
Foreign currency, at value (cost $215) | 215 |
Receivable for Fund shares sold | 1,518,845 |
Dividends receivable | 354,866 |
Interest receivable | 256,840 |
Other assets | 61,557 |
Total assets | 543,798,547 |
Liabilities | |
Payable upon return of securities loaned | 4,125,000 |
Payable for investments purchased | 1,331,982 |
Payable for Fund shares redeemed | 649,931 |
Accrued management fee | 252,542 |
Accrued Trustees' fees | 2,152 |
Other accrued expenses and payables | 301,038 |
Total liabilities | 6,662,645 |
Net assets, at value | $537,135,902 |
Net Assets Consist of | |
Distributable earnings (loss) | 128,934,692 |
Paid-in capital | 408,201,210 |
Net assets, at value | $537,135,902 |
18 | | | DWS Small Cap Core Fund |
Net Asset Value | |
Class A | |
Net Asset Value and redemption price per share ($186,907,140 ÷ 4,678,731 outstanding shares of beneficial interest, $.01 par value, unlimited number of shares authorized) | $39.95 |
Maximum offering price per share (100 ÷ 94.25 of $39.95) | $42.39 |
Class C | |
Net Asset Value, offering and redemption price (subject to contingent deferred sales charge) per share ($5,290,561 ÷ 166,470 outstanding shares of beneficial interest, $.01 par value, unlimited number of shares authorized) | $31.78 |
Class R6 | |
Net Asset Value, offering and redemption price per share ($2,235,344 ÷ 53,172 outstanding shares of beneficial interest, $.01 par value, unlimited number of shares authorized) | $42.04 |
Class S | |
Net Asset Value, offering and redemption price per share ($124,629,372 ÷ 2,965,312 outstanding shares of beneficial interest, $.01 par value, unlimited number of shares authorized) | $42.03 |
Institutional Class | |
Net Asset Value, offering and redemption price per share ($218,073,485 ÷ 5,191,095 outstanding shares of beneficial interest, $.01 par value, unlimited number of shares authorized) | $42.01 |
DWS Small Cap Core Fund | | | 19 |
Investment Income | |
Income: | |
Dividends (net of foreign taxes withheld of $28,962) | $3,476,181 |
Income distributions — DWS Central Cash Management Government Fund | 1,225,079 |
Securities lending income, net of borrower rebates | 79,336 |
Total income | 4,780,596 |
Expenses: | |
Management fee | 1,599,514 |
Administration fee | 244,472 |
Services to shareholders | 316,009 |
Distribution and service fees | 257,715 |
Custodian fee | 3,089 |
Professional fees | 32,902 |
Reports to shareholders | 39,169 |
Registration fees | 41,996 |
Trustees' fees and expenses | 9,125 |
Other | 20,253 |
Total expenses | 2,564,244 |
Net investment income | 2,216,352 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) from: | |
Investments | 5,856,501 |
Foreign currency | (61,580 ) |
5,794,921 | |
Change in net unrealized appreciation (depreciation) on: | |
Investments | 16,921,191 |
Foreign currency | 75,563 |
16,996,754 | |
Net gain (loss) | 22,791,675 |
Net increase (decrease) in net assets resulting from operations | $25,008,027 |
20 | | | DWS Small Cap Core Fund |
Six Months Ended March 31, 2023 | Year Ended September 30, | |
Increase (Decrease) in Net Assets | (Unaudited) | 2022 |
Operations: | ||
Net investment income | $2,216,352 | $323,559 |
Net realized gain (loss) | 5,794,921 | 4,033,057 |
Change in net unrealized appreciation (depreciation) | 16,996,754 | (62,518,614 ) |
Net increase (decrease) in net assets resulting from operations | 25,008,027 | (58,161,998 ) |
Distributions to shareholders: | ||
Class A | (1,595,911 ) | (4,220,076 ) |
Class T | — | (313 ) |
Class C | (51,861 ) | (141,592 ) |
Class R6 | (13,270 ) | (9,053 ) |
Class S | (1,272,293 ) | (2,132,208 ) |
Institutional Class | (1,863,953 ) | (1,513,398 ) |
Total distributions | (4,797,288 ) | (8,016,640 ) |
Fund share transactions: | ||
Proceeds from shares sold | 169,943,977 | 148,575,931 |
Reinvestment of distributions | 4,653,518 | 7,791,127 |
Payments for shares redeemed | (76,598,187 ) | (101,962,684 ) |
Net increase (decrease) in net assets from Fund share transactions | 97,999,308 | 54,404,374 |
Increase (decrease) in net assets | 118,210,047 | (11,774,264 ) |
Net assets at beginning of period | 418,925,855 | 430,700,119 |
Net assets at end of period | $537,135,902 | $418,925,855 |
DWS Small Cap Core Fund | | | 21 |
DWS Small Cap Core Fund — Class A | ||||||
Six Months Ended 3/31/23 | Years Ended September 30, | |||||
(Unaudited) | 2022 | 2021 | 2020 | 2019 | 2018 | |
Selected Per Share Data | ||||||
Net asset value, beginning of period | $38.00 | $44.14 | $25.78 | $26.52 | $33.12 | $30.39 |
Income (loss) from investment operations: | ||||||
Net investment income (loss)a | .14 | (.03 ) | (.07 ) | .05 | .01 | .05 |
Net realized and unrealized gain (loss) | 2.14 | (5.30 ) | 18.48 | (.78 ) | (5.16 ) | 4.40 |
Total from investment operations | 2.28 | (5.33 ) | 18.41 | (.73 ) | (5.15 ) | 4.45 |
Less distributions from: | ||||||
Net investment income | (.02 ) | — | (.05 ) | — | (.05 ) | (.03 ) |
Net realized gains | (.31 ) | (.81 ) | — | (.01 ) | (1.40 ) | (1.69 ) |
Total distributions | (.33 ) | (.81 ) | (.05 ) | (.01 ) | (1.45 ) | (1.72 ) |
Net asset value, end of period | $39.95 | $38.00 | $44.14 | $25.78 | $26.52 | $33.12 |
Total Return (%)b | 6.03 * | (12.32 ) | 71.48 c | (2.77 )c | (15.38 )c | 15.30 c |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 187 | 184 | 232 | 146 | 177 | 245 |
Ratio of expenses before expense reductions (%) | 1.19 ** | 1.20 | 1.19 | 1.27 | 1.26 | 1.24 |
Ratio of expenses after expense reductions (%) | 1.19 ** | 1.20 | 1.15 | 1.09 | 1.09 | 1.09 |
Ratio of net investment income (loss) (%) | .68 ** | (.06 ) | (.19 ) | .21 | .02 | .15 |
Portfolio turnover rate (%) | 8 * | 31 | 32 | 15 | 21 | 44 |
a | Based on average shares outstanding during the period. |
b | Total return does not reflect the effect of any sales charges. |
c | Total return would have been lower had certain expenses not been reduced. |
* | Not annualized |
** | Annualized |
22 | | | DWS Small Cap Core Fund |
DWS Small Cap Core Fund — Class C | ||||||
Six Months Ended 3/31/23 | Years Ended September 30, | |||||
(Unaudited) | 2022 | 2021 | 2020 | 2019 | 2018 | |
Selected Per Share Data | ||||||
Net asset value, beginning of period | $30.39 | $35.73 | $21.00 | $21.77 | $27.64 | $25.80 |
Income (loss) from investment operations: | ||||||
Net investment income (loss)a | (.02 ) | (.28 ) | (.30 ) | (.11 ) | (.17 ) | (.15 ) |
Net realized and unrealized gain (loss) | 1.72 | (4.25 ) | 15.03 | (.65 ) | (4.30 ) | 3.68 |
Total from investment operations | 1.70 | (4.53 ) | 14.73 | (.76 ) | (4.47 ) | 3.53 |
Less distributions from: | ||||||
Net realized gains | (.31 ) | (.81 ) | — | (.01 ) | (1.40 ) | (1.69 ) |
Net asset value, end of period | $31.78 | $30.39 | $35.73 | $21.00 | $21.77 | $27.64 |
Total Return (%)b | 5.61 * | (13.00 ) | 70.14 c | (3.52 )c | (16.01 )c | 14.41 c |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 5 | 5 | 6 | 6 | 11 | 21 |
Ratio of expenses before expense reductions (%) | 1.96 ** | 1.97 | 1.98 | 2.05 | 2.01 | 1.99 |
Ratio of expenses after expense reductions (%) | 1.96 ** | 1.97 | 1.93 | 1.84 | 1.84 | 1.84 |
Ratio of net investment income (loss) (%) | (.11 )** | (.83 ) | (.97 ) | (.55 ) | (.74 ) | (.59 ) |
Portfolio turnover rate (%) | 8 * | 31 | 32 | 15 | 21 | 44 |
a | Based on average shares outstanding during the period. |
b | Total return does not reflect the effect of any sales charges. |
c | Total return would have been lower had certain expenses not been reduced. |
* | Not annualized |
** | Annualized |
DWS Small Cap Core Fund | | | 23 |
DWS Small Cap Core Fund — Class R6 | ||||||
Six Months Ended 3/31/23 | Years Ended September 30, | |||||
(Unaudited) | 2022 | 2021 | 2020 | 2019 | 2018 | |
Selected Per Share Data | ||||||
Net asset value, beginning of period | $40.04 | $46.31 | $27.05 | $27.81 | $34.64 | $31.72 |
Income (loss) from investment operations: | ||||||
Net investment incomea | .26 | .14 | .06 | .13 | .07 | .20 |
Net realized and unrealized gain (loss) | 2.22 | (5.60 ) | 19.36 | (.81 ) | (5.36 ) | 4.53 |
Total from investment operations | 2.48 | (5.46 ) | 19.42 | (.68 ) | (5.29 ) | 4.73 |
Less distributions from: | ||||||
Net investment income | (.17 ) | — | (.16 ) | (.07 ) | (.14 ) | (.12 ) |
Net realized gains | (.31 ) | (.81 ) | — | (.01 ) | (1.40 ) | (1.69 ) |
Total distributions | (.48 ) | (.81 ) | (.16 ) | (.08 ) | (1.54 ) | (1.81 ) |
Net asset value, end of period | $42.04 | $40.04 | $46.31 | $27.05 | $27.81 | $34.64 |
Total Return (%) | 6.22 * | (12.02 ) | 71.98 b | (2.48 )b | (15.12 )b | 15.61 b |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ thousands) | 2,235 | 715 | 417 | 233 | 138 | 2,723 |
Ratio of expenses before expense reductions (%) | .82 ** | .86 | .87 | .95 | .85 | .88 |
Ratio of expenses after expense reductions (%) | .82 ** | .86 | .83 | .79 | .79 | .79 |
Ratio of net investment income (%) | 1.20 ** | .31 | .15 | .50 | .24 | .59 |
Portfolio turnover rate (%) | 8 * | 31 | 32 | 15 | 21 | 44 |
a | Based on average shares outstanding during the period. |
b | Total return would have been lower had certain expenses not been reduced. |
* | Not annualized |
** | Annualized |
24 | | | DWS Small Cap Core Fund |
DWS Small Cap Core Fund — Class S | ||||||
Six Months Ended 3/31/23 | Years Ended September 30, | |||||
(Unaudited) | 2022 | 2021 | 2020 | 2019 | 2018 | |
Selected Per Share Data | ||||||
Net asset value, beginning of period | $40.02 | $46.32 | $27.05 | $27.81 | $34.64 | $31.73 |
Income (loss) from investment operations: | ||||||
Net investment incomea | .20 | .09 | .02 | .11 | .06 | .08 |
Net realized and unrealized gain (loss) | 2.25 | (5.58 ) | 19.37 | (.82 ) | (5.38 ) | 4.63 |
Total from investment operations | 2.45 | (5.49 ) | 19.39 | (.71 ) | (5.32 ) | 4.71 |
Less distributions from: | ||||||
Net investment income | (.13 ) | — | (.12 ) | (.04 ) | (.11 ) | (.11 ) |
Net realized gains | (.31 ) | (.81 ) | — | (.01 ) | (1.40 ) | (1.69 ) |
Total distributions | (.44 ) | (.81 ) | (.12 ) | (.05 ) | (1.51 ) | (1.80 ) |
Net asset value, end of period | $42.03 | $40.02 | $46.32 | $27.05 | $27.81 | $34.64 |
Total Return (%) | 6.16 * | (12.09 ) | 71.84 b | (2.57 )b | (15.21 )b | 15.52 b |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 125 | 115 | 117 | 72 | 105 | 179 |
Ratio of expenses before expense reductions (%) | .93 ** | .94 | .95 | 1.01 | 1.02 | 1.02 |
Ratio of expenses after expense reductions (%) | .93 ** | .94 | .92 | .89 | .89 | .89 |
Ratio of net investment income (%) | .95 ** | .21 | .04 | .40 | .21 | .23 |
Portfolio turnover rate (%) | 8 * | 31 | 32 | 15 | 21 | 44 |
a | Based on average shares outstanding during the period. |
b | Total return would have been lower had certain expenses not been reduced. |
* | Not annualized |
** | Annualized |
DWS Small Cap Core Fund | | | 25 |
DWS Small Cap Core Fund — Institutional Class | ||||||
Six Months Ended 3/31/23 | Years Ended September 30, | |||||
(Unaudited) | 2022 | 2021 | 2020 | 2019 | 2018 | |
Selected Per Share Data | ||||||
Net asset value, beginning of period | $40.00 | $46.28 | $27.04 | $27.79 | $34.62 | $31.72 |
Income (loss) from investment operations: | ||||||
Net investment incomea | .23 | .11 | .02 | .13 | .07 | .12 |
Net realized and unrealized gain (loss) | 2.24 | (5.58 ) | 19.36 | (.81 ) | (5.38 ) | 4.61 |
Total from investment operations | 2.47 | (5.47 ) | 19.38 | (.68 ) | (5.31 ) | 4.73 |
Less distributions from: | ||||||
Net investment income | (.15 ) | — | (.14 ) | (.06 ) | (.12 ) | (.14 ) |
Net realized gains | (.31 ) | (.81 ) | — | (.01 ) | (1.40 ) | (1.69 ) |
Total distributions | (.46 ) | (.81 ) | (.14 ) | (.07 ) | (1.52 ) | (1.83 ) |
Net asset value, end of period | $42.01 | $40.00 | $46.28 | $27.04 | $27.79 | $34.62 |
Total Return (%) | 6.19 * | (12.07 ) | 71.88 b | (2.49 )b | (15.15 )b | 15.61 b |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 218 | 114 | 75 | 23 | 29 | 48 |
Ratio of expenses before expense reductions (%) | .87 ** | .91 | .93 | .96 | .99 | .96 |
Ratio of expenses after expense reductions (%) | .87 ** | .91 | .91 | .84 | .84 | .84 |
Ratio of net investment income (%) | 1.08 ** | .25 | .04 | .48 | .26 | .38 |
Portfolio turnover rate (%) | 8 * | 31 | 32 | 15 | 21 | 44 |
a | Based on average shares outstanding during the period. |
b | Total return would have been lower had certain expenses not been reduced. |
* | Not annualized |
** | Annualized |
26 | | | DWS Small Cap Core Fund |
DWS Small Cap Core Fund | | | 27 |
28 | | | DWS Small Cap Core Fund |
DWS Small Cap Core Fund | | | 29 |
30 | | | DWS Small Cap Core Fund |
DWS Small Cap Core Fund | | | 31 |
Assets Derivative | Purchased Options |
Equity Contracts (a) | $21,290,000 |
The above derivative is located in the following Statement of Assets and Liabilities account: |
(a) | Investments in securities at value (includes purchased options) |
Change in Net Unrealized Appreciation (Depreciation) | Purchased Options |
Equity Contracts (a) | $(7,697,990 ) |
The above derivative is located in the following Statement of Operations account: |
(a) | Change in net unrealized appreciation (depreciation) on investments (includes purchased options) |
32 | | | DWS Small Cap Core Fund |
First $250 million of the Fund’s average daily net assets | .650% |
Next $250 million of such net assets | .620% |
Next $500 million of such net assets | .615% |
Next $4 billion of such net assets | .565% |
Next $2.5 billion of such net assets | .550% |
Next $2.5 billion of such net assets | .540% |
Next $2.5 billion of such net assets | .530% |
Over $12.5 billion of such net assets | .520% |
Class A | 1.27% | ||
Class C | 2.02% | ||
Class R6 | 1.02% | ||
Class S | 1.07% | ||
Institutional Class | 1.02% |
DWS Small Cap Core Fund | | | 33 |
Services to Shareholders | Total Aggregated | Unpaid at March 31, 2023 |
Class A | $40,602 | $13,766 |
Class C | 1,291 | 421 |
Class R6 | 213 | 59 |
Class S | 35,012 | 11,887 |
Institutional Class | 730 | 214 |
$77,848 | $26,347 |
Sub-Recordkeeping | Total Aggregated |
Class A | $105,054 |
Class C | 3,656 |
Class S | 45,532 |
Institutional Class | 62,119 |
$216,361 |
34 | | | DWS Small Cap Core Fund |
Distribution Fee | Total Aggregated | Unpaid at March 31, 2023 |
Class C | $20,166 | $3,299 |
Service Fee | Total Aggregated | Unpaid at March 31, 2023 | Annualized Rate |
Class A | $231,345 | $79,942 | .24% |
Class C | 6,204 | 3,034 | .23% |
$237,549 | $82,976 |
DWS Small Cap Core Fund | | | 35 |
36 | | | DWS Small Cap Core Fund |
Six Months Ended March 31, 2023 | Year Ended September 30, 2022 | |||
Shares | Dollars | Shares | Dollars | |
Shares sold | ||||
Class A | 154,868 | $6,298,473 | 327,734 | $14,003,914 |
Class C | 30,444 | 976,243 | 37,688 | 1,289,846 |
Class R6 | 36,713 | 1,581,050 | 10,044 | 447,370 |
Class S | 360,445 | 15,467,326 | 608,551 | 27,046,749 |
Institutional Class | 3,424,433 | 145,620,885 | 2,381,087 | 105,788,052 |
$169,943,977 | $148,575,931 | |||
Shares issued to shareholders in reinvestment of distributions | ||||
Class A | 39,102 | $1,534,754 | 92,360 | $4,060,158 |
Class T | — | — | 7 * | 313 * |
Class C | 1,657 | 51,861 | 4,003 | 141,534 |
Class R6 | 322 | 13,270 | 196 | 9,053 |
Class S | 29,019 | 1,197,618 | 45,056 | 2,081,599 |
Institutional Class | 45,005 | 1,856,015 | 32,463 | 1,498,470 |
$4,653,518 | $7,791,127 | |||
Shares redeemed | ||||
Class A | (354,846 ) | $(14,353,474 ) | (842,672 ) | $(35,574,064 ) |
Class T | — | — | (394 )* | (14,968 )* |
Class C | (35,093 ) | (1,143,168 ) | (48,208 ) | (1,658,107 ) |
Class R6 | (1,725 ) | (72,287 ) | (1,387 ) | (58,212 ) |
Class S | (291,124 ) | (12,437,376 ) | (316,837 ) | (14,179,700 ) |
Institutional Class | (1,139,508 ) | (48,591,882 ) | (1,162,094 ) | (50,477,633 ) |
$(76,598,187 ) | $(101,962,684 ) |
DWS Small Cap Core Fund | | | 37 |
Six Months Ended March 31, 2023 | Year Ended September 30, 2022 | |||
Shares | Dollars | Shares | Dollars | |
Net increase (decrease) | ||||
Class A | (160,876 ) | $(6,520,247 ) | (422,578 ) | $(17,509,992 ) |
Class T | — | — | (387 )* | (14,655 )* |
Class C | (2,992 ) | (115,064 ) | (6,517 ) | (226,727 ) |
Class R6 | 35,310 | 1,522,033 | 8,853 | 398,211 |
Class S | 98,340 | 4,227,568 | 336,770 | 14,948,648 |
Institutional Class | 2,329,930 | 98,885,018 | 1,251,456 | 56,808,889 |
$97,999,308 | $54,404,374 |
* | For the period from October 1, 2021 to September 30, 2022 (Class T liquidation date). |
38 | | | DWS Small Cap Core Fund |
DWS Small Cap Core Fund | | | 39 |
Actual Fund Return | Class A | Class C | Class R6 | Class S | Institutional Class |
Beginning Account Value 10/1/22 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value 3/31/23 | $1,060.30 | $1,056.10 | $1,062.20 | $1,061.60 | $1,061.90 |
Expenses Paid per $1,000* | $6.11 | $10.05 | $4.22 | $4.78 | $4.47 |
Hypothetical 5% Fund Return | Class A | Class C | Class R6 | Class S | Institutional Class |
Beginning Account Value 10/1/22 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value 3/31/23 | $1,019.00 | $1,015.16 | $1,020.84 | $1,020.29 | $1,020.59 |
Expenses Paid per $1,000* | $5.99 | $9.85 | $4.13 | $4.68 | $4.38 |
* | 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 182 (the number of days in the most recent six-month period), then divided by 365. |
Annualized Expense Ratios | Class A | Class C | Class R6 | Class S | Institutional Class |
DWS Small Cap Core Fund | 1.19% | 1.96% | .82% | .93% | .87% |
40 | | | DWS Small Cap Core Fund |
DWS Small Cap Core Fund | | | 41 |
42 | | | DWS Small Cap Core Fund |
DWS Small Cap Core Fund | | | 43 |
44 | | | DWS Small Cap Core Fund |
DWS Small Cap Core Fund | | | 45 |
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 Classes A, C and 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 | Following the Fund’s fiscal first and third quarter-end, a complete portfolio holdings listing is posted on dws.com and is available free of charge by contacting your financial intermediary or, if you are a direct investor, by calling (800) 728-3337. In addition, the portfolio holdings listing is filed with the SEC on the Fund’s Form N-PORT and will be available on the SEC’s Web site at sec.gov. Additional portfolio holdings for the Fund are also posted on dws.com from time to time. 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 |
46 | | | DWS Small Cap Core Fund |
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. |
Class A | Class C | Class S | Institutional Class | |
Nasdaq Symbol | SZCAX | SZCCX | SSLCX | SZCIX |
CUSIP Number | 25157M 778 | 25157M 794 | 25157M 810 | 25157M 521 |
Fund Number | 439 | 739 | 2339 | 1439 |
For shareholders of Class R6 | |
Automated Information Line | DWS/Ascensus Plan Access (800) 728-3337 |
24-hour access to your retirement plan account. | |
Web Site | dws.com |
Obtain prospectuses and applications, news about DWS funds, insight from DWS economists and investment specialists and access to DWS fund account information. | |
Log in/register to manage retirement account assets at https://www.mykplan.com/participantsecure_net/login.aspx. | |
For More Information | (800) 728-3337 |
To speak with a service representative. | |
Written Correspondence | DWS Service Company 222 South Riverside Plaza Chicago, IL 60606-5806 |
Class R6 | |
Nasdaq Symbol | SZCRX |
CUSIP Number | 25157M 539 |
Fund Number | 1639 |
DWS Small Cap Core Fund | | | 47 |
(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 Small Cap Core Fund, a series of Deutsche DWS Investment Trust |
By: | /s/Hepsen Uzcan Hepsen Uzcan President |
Date: | 5/30/2023 |
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: | 5/30/2023 |
By: | /s/Diane Kenneally Diane Kenneally Chief Financial Officer and Treasurer |
Date: | 5/30/2023 |