Supplement to the currently effective Statement of Additional Information        (“SAI”) for the fund listed below:

 

**DWS        Communications Fund**

 

         

***The information below replaces the disclosure – applicable to        portfolio managers who are employees of Deutsche Investment Management Americas Inc. (the        “Advisor”) and its affiliates – in the “Compensation of Portfolio        Managers” section of the Fund’s SAI.***

**Compensation of Portfolio Managers**

Portfolio managers are eligible for total compensation comprised of base        salary and discretionary incentive compensation.

**Base        Salary**– Base salary generally represents a smaller        percentage of the portfolio managers’ total compensation than discretionary incentive        compensation. Base salary is linked to job function, responsibilities and financial        services industry peer comparison through the use of extensive market data        surveys.

**Discretionary Incentive****Compensation        –**Generally,discretionary incentive        compensation comprises a greater proportion of total compensation as a portfolio        manager’s seniority and compensation levels increase. Discretionary incentive        compensation is determined based on an analysis of a number of factors, including among        other things, the performance of Deutsche Bank, the performance of the Asset Management        division, and the employee’s individual contribution. In evaluating individual        contribution, management will consider a combination of quantitative and qualitative        factors. A portion of the portfolio manager’s discretionary incentive compensation        may be delivered in long-term equity programs (usually in the form or Deutsche Bank equity)        (the “Equity Plan”). Top performing portfolio managers may earn discretionary        incentive compensation that is a multiple of their base salary.

| **•** | The quantitative analysis of a portfolio manager’s                        individual performance is based on, among other factors, performance of all                        of the accounts managed by the portfolio manager (which includes the fund                        and any other accounts managed by the portfolio manager) over a one-,                        three-, and five-year period relative to the appropriate Morningstar and                        Lipper peer group universes and/or benchmark index(es) with respect to each                        account. Additionally, the portfolio manager’s retail/institutional                        asset mix is weighted, as appropriate for evaluation purposes. Generally                        the benchmark index used is a benchmark index set forth in the fund’s                        prospectus to which the fund’s performance is compared. Additional or                        different appropriate peer group or benchmark indices may also be used.                        Primary weight is given to pre-tax portfolio performance over three-year                        and five-year time periods (adjusted as appropriate if the portfolio                        manager has served for less than five years) with lesser consideration                        given to portfolio performance over a one-year period. The increase or                        decrease in a fund’s assets due to the purchase or sale of fund                        shares is not considered a material factor. |
|------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **•** | The qualitative analysis of a portfolio manager’s                        individual performance is based on, among other things, the results of an                        annual management and internal peer review process, and management’s                        assessment of overall portfolio manager contributions to investor                        relations, the investment process and overall performance (distinct from                        fund and other account performance). Other factors, including contributions                        made to the investment team, as well as adherence to Compliance Policies                        and Procedures, Risk Management procedures, the firm’s Code of Ethics                        and “living the values” of the Advisor are also                        factors. |
|------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

The        quantitative analysis of a portfolio manager’s performance is given more weight in        determining discretionary incentive compensation than the qualitative portion. Certain        portfolio managers may also participate in the Equity Plan. The amount of equity awarded        under the long-term equity programs is generally based on the individual’s total        compensation package and may comprise from 0% to 30% of the total compensation award. As        discretionary incentive compensation increases, the percentage of compensation awarded in        Deutsche Bank equity also increases. Portfolio managers may receive a portion of their        equity compensation in the form of shares in the proprietary mutual funds that they manage        or support.

**Fund        Ownership of Portfolio Managers**

The        following table shows the dollar range of shares owned beneficially and of record by the        Fund’s portfolio manager in the Fund as well as in all DWS Funds as a group (i.e.,        those funds advised by Deutsche Asset Management or its affiliates), including investments        by their immediate family members sharing the same household and amounts invested through        retirement and deferred compensation plans. This information is provided as of December 31,        2007.

 

| **Name of Portfolio                        Manager** | **DWS Communications Fund** | **Dollar Range of All DWS****Fund Shares Owned** |
|------------------------------------------------------|-----------------------------|--------------------------------------------------|
|                                                 |                        |                                             |
| Ralf                        Oberbannscheidt          | None                        | None                                             |

 

**Conflicts of Interest**

In        addition to managing the assets of the Fund, the Fund’s portfolio manager may have        responsibility for managing other client accounts of the Advisor or its affiliates. The        tables below show, for the portfolio manager, the number and asset size of (1) SEC        registered investment companies (or series thereof) other than the Fund, (2) pooled        investment vehicles that are not registered investment companies and (3) other accounts        (e.g., accounts managed for individuals or organizations) managed by the portfolio manager.        Total assets attributed to the portfolio manager in the tables below include total assets        of each account managed by them, although the portfolio manager may only manage a portion        of such account’s assets. The tables also show the number of performance based fee        accounts, as well as the total assets of the accounts for which the advisory fee is based        on the performance of the account. This information is provided as of December 31,        2007.

**Other        SEC Registered Investment Companies Managed:**

 

| **Name of Portfolio Manager**               | **Number of Registered Investment****Companies** | **Total Assets of Registered Investment****Companies** | **Number of Investment Company Accounts with                        Performance-****Based Fee** | **Total Assets of Performance- Based Fee****Accounts** |
|---------------------------------------------|--------------------------------------------------|--------------------------------------------------------|-------------------------------------------------------------------------------------------------|--------------------------------------------------------|
|                                        |                                             |                                                   |                                                                                            |                                                   |
| Ralf                        Oberbannscheidt | 3                                                | $1,615,821,728                                         | 0                                                                                               | $0                                                     |

**Other        Pooled Investment Vehicles Managed:**

 

| **Name of Portfolio Manager** | **Number of Pooled Investment****Vehicles** | **Total Assets of Pooled Investment****Vehicles** | **Number of Pooled Investment Vehicle Accounts with                        Performance-Based****Fee** | **Total Assets of Performance-Based Fee****Accounts** |
|-------------------------------|---------------------------------------------|---------------------------------------------------|-------------------------------------------------------------------------------------------------------|-------------------------------------------------------|
|                          |                                        |                                              |                                                                                                  |                                                  |
| Ralf Oberbannscheidt          | 0                                           | $0                                                | 0                                                                                                     | $0                                                    |

 

 

**Other        Accounts Managed:**

 

| **Name of Portfolio Manager**               | **Number of Other****Accounts** | **Total Assets of****Other Accounts** | **Number of Other Accounts with Performance-****Based Fee** | **Total Assets of Performance-Based Fee****Accounts** |
|---------------------------------------------|---------------------------------|---------------------------------------|-------------------------------------------------------------|-------------------------------------------------------|
|                                        |                            |                                  |                                                        |                                                  |
| Ralf                        Oberbannscheidt | 6                               | $2,800,000,000                        | 0                                                           | $0                                                    |

In        addition to the accounts above, an investment professional may manage accounts in a        personal capacity that may include holdings that are similar to, or the same as, those of        the Fund. The Advisor has in place a Code of Ethics that is designed to address conflicts        of interest and that, among other things, imposes restrictions on the ability of portfolio        managers and other “access persons” to invest in securities that may be        recommended or traded in the Fund and other client accounts.

Real,        potential or apparent conflicts of interest may arise when a portfolio manager has        day-to-day portfolio management responsibilities with respect to more than one fund or        account, including the following:

| **•** | Certain investments may be appropriate for the Fund and also                        for other clients advised by the Advisor, including other client accounts                        managed by the Fund’s portfolio management team. Investment decisions                        for the Fund and other clients are made with a view to achieving their                        respective investment objectives and after consideration of such factors as                        their current holdings, availability of cash for investment and the size of                        their investments generally. A particular security may be bought or sold                        for only one client or in different amounts and at different times for more                        than one but less than all clients. Likewise, because clients of the                        Advisor may have differing investment strategies, a particular security may                        be bought for one or more clients when one or more other clients are                        selling the security. The investment results achieved for the Fund may                        differ from the results achieved for other clients of the Advisor. In                        addition, purchases or sales of the same security may be made for two or                        more clients on the same day. In such event, such transactions will be                        allocated among the clients in a manner believed by the Advisor to be most                        equitable to each client, generally utilizing a pro rata allocation                        methodology. In some cases, the allocation procedure could potentially have                        an adverse effect or positive effect on the price or amount of the                        securities purchased or sold by the Fund. Purchase and sale orders for the                        Fund may be combined with those of other clients of the Advisor in the                        interest of achieving the most favorable net results to the Fund and the                        other clients. |
|------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **•** | To the extent that a portfolio manager has responsibilities                        for managing multiple client accounts, a portfolio manager will need to                        divide time and attention among relevant accounts. The Advisor attempts to                        minimize these conflicts by aligning its portfolio management teams by                        investment strategy and by employing similar investment models across                        multiple client accounts. |
|------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **•** | In some cases, an apparent conflict may arise where the                        Advisor has an incentive, such as a performance-based fee, in managing one                        account and not with respect to other accounts it manages. The Advisor will                        not determine allocations based on whether it receives a performance-based                        fee from the client. Additionally, the Advisor has in place supervisory                        oversight processes to periodically monitor performance deviations for                        accounts with like strategies. |
|------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **•** | The Advisor and its affiliates and the investment team of                        the Fund may manage other mutual funds and separate accounts on a                        long-short basis. The simultaneous management of long and short portfolios                        creates potential conflicts of interest including the risk that short sale                        activity could adversely affect the market value of the long positions(and                        vice versa), the risk arising from sequential orders in long and short                        positions, and the risks associated with receiving opposing orders at the                        same time. The Advisor has adopted procedures that it believes are                        reasonably designed to mitigate these potential conflicts of interest.                        Included in these procedures are specific guidelines developed to ensure                        fair and equitable treatment for all clients whose accounts are managed by                        the Fund’s portfolio management team. The Advisor and the portfolio                        management team have established monitoring procedures, a protocol for                        supervisory reviews, as |
|------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

well as compliance oversight to ensure that potential conflicts of interest        relating to this type of activity are properly addressed.

The        Advisor is owned by Deutsche Bank AG, a multi-national financial services company.        Therefore, the Advisor is affiliated with a variety of entities that provide, and/or engage        in commercial banking, insurance, brokerage, investment banking, financial advisory,        broker-dealer activities (including sales and trading), hedge funds, real estate and        private equity investing, in addition to the provision of investment management services to        institutional and individual investors. Since Deutsche Bank AG, its affiliates, directors,        officers and employees (the “Firm”) are engaged in businesses and have        interests other than managing asset management accounts, such other activities involve        real, potential or apparent conflicts of interest. These interests and activities include        potential advisory, transactional and financial activities and other interests in        securities and companies that may be directly or indirectly purchased or sold by the Firm        for its clients’ advisory accounts. These are considerations of which advisory        clients should be aware and which may cause conflicts that could be to the disadvantage of        the Advisor’s advisory clients. The Advisor has instituted business and compliance        policies, procedures and disclosures that are designed to identify, monitor and mitigate        conflicts of interest and, as appropriate, to report them to the Fund’s        Board.

 

*Please        Retain This Supplement for Future Reference*

 

April 4,        2008