Market Overview

Deutsche Multi-Market Income Trust and Deutsche Strategic Income Trust Announce Additional Details Regarding Their Liquidations

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Deutsche Multi-Market Income Trust (NYSE:KMM) and Deutsche Strategic
Income Trust (NYSE:KST) (each, a "Fund," and, collectively, the "Funds")
announced
today that the Board of Trustees has approved a Plan of Liquidation and
Termination for each Fund (each a "Plan") related to the previously
approved liquidations of the Funds to occur on or before December 31,
2018. As further described below, pursuant to each Plan, a final
liquidating distribution is expected to be made on or about November 16,
2018 for each Fund.

Under the terms of each Plan, the "Cessation Date" for each Fund's
planned liquidation is expected to occur on or about November 9, 2018.
As provided in each Plan, at the close of business on the Cessation
Date, each Fund will cease to engage in any business activities, except
for the purpose of liquidating and winding up its affairs, and the books
of the Fund will be closed. Effective the business day following the
Cessation Date, each Fund's shares will not be transferable (except for
the settlement of prior transactions), and it is anticipated that
trading in each Fund's shares on the New York Stock Exchange will cease.
Each Fund will subsequently seek to reduce all remaining portfolio
securities to cash or cash equivalents and make a final liquidating
distribution to shareholders on or about November 16, 2018. All Fund
shareholders as of the close of business on the Cessation Date will be
entitled to receive a liquidating distribution. The Cessation Date may
be extended if necessary or appropriate in connection with the orderly
liquidation of a Fund or to protect the interests of a Fund's
shareholders.

KMM and KST have both eliminated their financial leverage facilities by
paying back their bank line of credit and terminating their leverage
agreements on June 27, 2018 and June 28, 2018, respectively. In
addition, prior to the Cessation Date and subject to portfolio
management's discretion, each Fund intends to begin the process of
converting its portfolio's securities to more liquid investments,
including cash or cash equivalents. As each Fund begins to transition
its portfolio to more liquid investments, its net investment income may
decline, which, in turn, may reduce its remaining regular monthly
dividends. Each Fund's last anticipated regular monthly dividend will be
for the month of October. The Funds do not expect to pay their regular
November monthly dividends. Any net investment income earned in November
would consequently be included as part of each Fund's final liquidating
distribution to shareholders.

For more information on the Funds, including their most recent month-end
performance, visit dws.com
or call (800) 349-4281 or 00-800-2287-2750 from outside the US.

Important Information

Deutsche Multi-Market Income Trust Bond investments are subject to
interest-rate, credit, liquidity and market risks to varying degrees.
When interest rates rise, bond prices generally fall. Credit risk refers
to the ability of an issuer to make timely payments of principal and
interest. Investments in lower-quality ("junk bonds") and non-rated
securities present greater risk of loss than investments in
higher-quality securities. Investing in derivatives entails special
risks relating to liquidity, leverage and credit that may reduce returns
and/or increase volatility. Leverage results in additional risks and can
magnify the effect of any gains or losses. Emerging markets tend to be
more volatile than the markets of more mature economies, and generally
have less diverse and less mature economic structures and less stable
political systems than those of developed countries. Investing in
foreign securities presents certain risks, such as currency
fluctuations, political and economic changes, and market risks.

Deutsche Strategic Income Trust Bond investments are subject to
interest-rate, credit, liquidity and market risks to varying degrees.
When interest rates rise, bond prices generally fall. Credit risk refers
to the ability of an issuer to make timely payments of principal and
interest. Investments in lower-quality ("junk bonds") and non-rated
securities present greater risk of loss than investments in
higher-quality securities. Investing in derivatives entails special
risks relating to liquidity, leverage and credit that may reduce returns
and/or increase volatility. Leverage results in additional risks and can
magnify the effect of any gains or losses. Emerging markets tend to be
more volatile than the markets of more mature economies, and generally
have less diverse and less mature economic structures and less stable
political systems than those of developed countries. Investing in
foreign securities presents certain risks, such as currency
fluctuations, political and economic changes, and market risks.

Closed-end funds, unlike open-end funds, are not continuously
offered. There is a one-time public offering and once issued, shares of
closed-end funds are bought and sold in the open market through a stock
exchange. Shares of closed-end funds frequently trade at a discount to
the net asset value. The price of a fund's shares is determined by a
number of factors, several of which are beyond the control of the fund.
Therefore, the fund cannot predict whether its shares will trade at,
below or above net asset value.

Past performance is no guarantee of future results.

This press release shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these securities in
any state or jurisdiction in which such offer or solicitation or sale
would be unlawful prior to registration or qualification under the laws
of such state or jurisdiction.

Certain statements contained in this release may be forward-looking
in nature. These include all statements relating to plans, expectations,
and other statements that are not historical facts and typically use
words like "expect," "anticipate," "believe," "intend," and similar
expressions. Such statements represent management's current beliefs,
based upon information available at the time the statements are made,
with regard to the matters addressed. All forward-looking statements are
subject to risks and uncertainties that could cause actual results to
differ materially from those expressed in, or implied by, such
statements. Management does not undertake any obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events, or otherwise.
The following factors,
among others, could cause actual results to differ materially from
forward-looking statements: (i) the effects of adverse changes in market
and economic conditions; (ii) legal and regulatory developments; and
(iii) other additional risks and uncertainties.

Nothing contained herein is fiduciary or impartial investment advice
that is individualized or directed to any plan, plan participant, or IRA
owner regarding the advisability of any investment transaction,
including any IRA distribution or rollover.

 

NOT FDIC/ NCUA INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

NOT A DEPOSIT • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

 
 
 

DWS Distributors, Inc.

222 South Riverside Plaza
Chicago, IL 60606-5808
www.dws.com
Tel (800) 621-1148
© 2018 DWS Group GmbH & Co. KGaA. All rights reserved
 

The brand DWS represents DWS Group GmbH & Co. KGaA and any of its
subsidiaries such as DWS Distributors, Inc. which offers investment
products or DWS Investment Management Americas, Inc. and RREEF America
L.L.C. which offer advisory services. (R-058997-1) (07/18)

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