SUPPLEMENT TO THE CURRENTLY EFFECTIVE STATEMENTS OF ADDITIONAL INFORMATION
                          FOR EACH OF THE LISTED FUNDS


<TABLE>
<S>     <C>    <C>    <C>    <C>    <C>    <C>
DWS Equity Trust                                    DWS Strategic Income Fund
      DWS Alternative Asset Allocation Plus Fund    DWS Target Fund
      DWS Core Plus Allocation Fund                       DWS LifeCompass Income Fund
DWS Money Funds                                           DWS LifeCompass Protect Fund
      DWS Money Market Prime Series                       DWS Target 2010 Fund
                                                          DWS Target 2011 Fund
                                                          DWS Target 2012 Fund
                                                          DWS Target 2013 Fund
                                                          DWS Target 2014 Fund
</TABLE>

Shareholders of the funds listed above recently approved, as applicable to a
fund and disclosed below, (i) an amended and restated investment management
agreement between a fund and Deutsche Investment Management Americas Inc. (the
"Advisor"), (ii) a subadviser approval policy, (iii) revisions of fundamental
investment policy regarding commodities and (iv) an amended and restated
declaration of trust.

Investment Management Agreement/Administrative Agreement
--------------------------------------------------------

DWS Target 2014 Fund only:

The following supplements the relevant disclosure under "Management of the
Fund":

The Board and the Fund's shareholders recently approved an amended and restated
investment management agreement (the "Investment Management Agreement") for the
Fund. Pursuant to the Investment Management Agreement, the Advisor provides
continuing investment management of the assets of the Fund. In addition to the
investment management of the assets of the Fund, the Advisor determines the
investments to be made for the Fund, including what portion of its assets remain
uninvested in cash or cash equivalents, and with whom the orders for investments
are placed, consistent with the Fund's policies as stated in its Prospectus and
SAI, or as adopted by the Fund's Board. The Advisor will also monitor, to the
extent not monitored by the Fund's administrator or other agent, the Fund's
compliance with its investment and tax guidelines and other compliance policies.

The Advisor provides assistance to the Fund's Board in valuing the securities
and other instruments held by the Fund, to the extent reasonably required by
valuation policies and procedures that may be adopted by the Fund.

Pursuant to the Investment Management Agreement, (unless otherwise provided in
the Investment Management Agreement or as determined by the Fund's Board and to
the extent permitted by applicable law), the Advisor pays the compensation and
expenses of all the Board Members, officers, and executive employees of the
Fund, including the Fund's share of payroll taxes, who are affiliated persons of
the Advisor.

The Investment Management Agreement provides that the Fund is generally
responsible for expenses that include: fees payable to the Advisor; outside
legal, accounting or auditing expenses, including with respect to expenses
related to negotiation, acquisition or distribution of portfolio investments;
maintenance of books and records that are maintained by the Fund, the Fund's
custodian, or other agents of the Fund; taxes and governmental fees; fees and
expenses of the Fund's accounting agent, custodian, sub-custodians,
depositories, transfer agents, dividend reimbursing agents and registrars;
payment for portfolio pricing or valuation services to pricing agents,
accountants, bankers and other specialists, if any; brokerage commissions or
other costs of acquiring or disposing of any portfolio securities or other
instruments of the Fund; and litigation expenses and other extraordinary
expenses not incurred in the ordinary course of the Fund's business.

The Investment Management Agreement allows the Advisor to delegate any of its
duties under the Investment Management Agreement to a subadvisor, subject to a
majority vote of the Board of the Fund, including a majority of


                                       -1-
<PAGE>

the Board who are not interested persons of the Fund (the "Independent Board
Members"), and, if required by applicable law, subject to a majority vote of the
Fund's shareholders.

The Investment Management Agreement provides that the Advisor shall not be
liable for any error of judgment or mistake of law or for any loss suffered by
the Fund in connection with matters to which the Investment Management Agreement
relates, except a loss resulting from willful malfeasance, bad faith or gross
negligence on the part of the Advisor in the performance of its duties or from
reckless disregard by the Advisor of its obligations and duties under the
Investment Management Agreement. The Investment Management Agreement may be
terminated at any time, without payment of penalty, by either party or by vote
of a majority of the outstanding voting securities of the Fund on 60 days'
written notice.

Effective July 1, 2008, for all services provided under the Investment
Management Agreement, the Fund pays the Advisor a fee, computed daily and paid
monthly, at the annual rate as a percentage of net assets shown below:

Fund                                                Management Fee Rate
----                                                -------------------

DWS Target 2014 Fund                                       0.400%

The Fund recently entered into a new administrative services agreement with the
Advisor (the "Administrative Services Agreement"), pursuant to which the Advisor
provides administrative services to the Fund including, among others, providing
the Fund with personnel, preparing and making required filings on behalf of the
Fund, maintaining books and records for the Fund, and monitoring the valuation
of Fund securities. For all services provided under the Administrative Services
Agreement, the Fund pays the Advisor a fee, computed daily and paid monthly, of
0.100% of the Fund's net assets.

Under the Administrative Services Agreement, the Advisor is obligated on a
continuous basis to provide such administrative services as the Board of the
Fund reasonably deems necessary for the proper administration of the Fund. The
Advisor provides the Fund with personnel; arranges for the preparation and
filing of the Fund's tax returns; prepares and submits reports and meeting
materials to the Board and the shareholders; prepares and files updates to the
Fund's prospectus and statement of additional information as well as other
reports required to be filed by the SEC; maintains the Fund's records; provides
the Fund with office space, equipment and services; supervises, negotiates the
contracts of and monitors the performance of third parties contractors; oversees
the tabulation of proxies; monitors the valuation of portfolio securities and
monitors compliance with Board-approved valuation procedures; assists in
establishing the accounting and tax policies of the Fund; assists in the
resolution of accounting issues that may arise with respect to the Fund;
establishes and monitors the Fund's operating expense budgets; reviews and
processes the Fund's bills; assists in determining the amount of dividends and
distributions available to be paid by the Fund, prepares and arranges dividend
notifications and provides information to agents to effect payments thereof;
provides to the Board periodic and special reports; provides assistance with
investor and public relations matters; and monitors the registration of shares
under applicable federal and state law. The Advisor also performs certain fund
accounting services under the Administrative Services Agreement. The
Administrative Services Agreement provides that the Advisor will not be liable
under the Administrative Services Agreement except for willful misfeasance, bad
faith or negligence in the performance of its duties or from the reckless
disregard by it of its duties and obligations thereunder.

Subadviser Approval Policy
--------------------------

DWS Alternative Asset Allocation Plus Fund, DWS Core Plus Allocation Fund and
DWS Target 2014 Fund:

The following is added to the disclosure under "Management of the Fund":

The Board and shareholders recently approved a new subadviser policy for the
Funds (the "Subadviser Approval Policy"). The Subadviser Approval Policy permits
the Advisor, subject to the approval of the Board, including a majority of the
Independent Board Members, to terminate an existing subadvisor or sub-subadvisor
and hire another subadvisor or sub-subadvisor, as applicable, and materially
amend an existing subadvisory agreement or sub-subadvisory agreement without
obtaining shareholder approval. The Funds could not implement the Subadviser


                                      -2-

<PAGE>

Approval Policy without the Securities and Exchange Commission (the "SEC")
granting the Funds exemptive relief. A number of other mutual fund complexes
have obtained exemptive relief with respect to an advisor's ability to appoint,
replace or amend the subadvisory agreement with unaffiliated subadvisors and
subadvisors that are wholly owned subsidiaries of the advisor. However,
exemptive relief with regard to an advisor's ability to appoint, replace or
amend the subadvisory agreement with a subadvisor, who is affiliated with, but
not wholly owned subsidiary of the advisor, without shareholder approval, would
be more expansive relief than previously granted by the SEC. In addition,
exemptive relief with regard to an advisor's ability to appoint, replace or
amend a sub-subadvisory agreement with a sub-advisor, without shareholder
approval, would be more expansive relief than previously obtained by other
mutual fund complexes. Accordingly, there can be no assurance that the Funds'
exemptive application will be granted by the SEC or that it will be sufficiently
broad to allow the Funds to implement the Subadviser Approval Policy as
described above. The SEC also has proposed Rule 15a-5 under the Investment
Company Act of 1940, as amended (the "1940 Act") in October 2003 to permit the
appointment and termination of subadvisors and amendment to subadvisory
agreements without shareholder approval. No action has been taken on proposed
Rule 15a-5 under the 1940 Act since its proposal and there is no assurances that
the rule will be adopted as proposed. The Funds and the Advisor will be subject
to the conditions imposed by the SEC (either by an exemptive order or as part of
the final rule) whenever the Advisor acts under the Subadviser Approval Policy,
including any shareholder notice requirements.

Fundamental Investment Policy
-----------------------------

DWS Target 2014 Fund only:

The fundamental investment policy regarding commodities is replaced with the
following:

     The Fund may not purchase or sell commodities, except as permitted by the
     1940 Act, as amended, and as interpreted or modified by the regulatory
     authority having jurisdiction, from time to time.

Fund Organization
-----------------

DWS Money Funds, DWS Strategic Income Fund and DWS Target Fund:

The following replaces all information under "Trust Organization" or "Fund
Organization" with respect to the Declaration of Trust and the rights and
obligations thereunder, except historical information and information relating
to a Trust's series:

     Each Trust is a Massachusetts business trust organized under the laws of
     Massachusetts and is governed by an Amended and Restated Declaration of
     Trust that was approved by shareholders in the second quarter of 2008, as
     may be further amended from time to time (the "Declaration of Trust"). All
     shares issued and outstanding are fully paid and non-assessable,
     transferable, have no pre-emptive or conversion rights (except as may be
     determined by the Board of Trustees) and are redeemable as described in the
     SAI and a Fund's prospectus. Each share has equal rights with each other
     share of the same class of the Fund as to voting, dividends, exchanges,
     conversion features and liquidation. Shareholders are entitled to one vote
     for each full share held and fractional votes for fractional shares held.

     A Fund generally is not required to hold meetings of its shareholders.
     Under the Declaration of Trust, however, shareholder meetings will be held
     in connection with the following matters to the extent and as provided in
     the Declaration of Trust and as required by applicable law: (a) the
     election or removal of trustees if a meeting is called for such purpose;
     (b) the termination of the Trust or a Fund thereof; (c) an amendment of the
     Declaration of Trust that (i) would affect a shareholder right to vote,
     (ii) may be required by law to be approved by shareholders, and (iii) is
     submitted to shareholders by the Board of Trustees; (d) such additional
     matters relating to the Trust as may be required by law; and (e) such
     additional matters as the Board of Trustees may


                                      -3-

<PAGE>

     determine to be necessary or desirable. Shareholders also vote upon changes
     in fundamental policies or restrictions.

     Except as noted above, the Declaration of Trust provides that the Board of
     Trustees may amend or otherwise supplement the Declaration of Trust by
     making an amendment, a supplemental thereto or an amended and restated
     Declaration of Trust by an instrument in writing executed by a majority of
     the Board of Trustees, provided that any provision of the Declaration of
     Trust that requires the approval of more than a majority of the Board of
     Trustees for any matter may be amended only with the approval of such
     greater number of the Board of Trustees. The Board of Trustees may, without
     any shareholder vote, amend the Declaration of Trust (x) to supply any
     omission, to cure, correct or supplement any ambiguous, defective or
     inconsistent provision hereof, or (y) if they deem it necessary or
     advisable, to conform the Declaration of Trust to the requirements of
     applicable law, including the 1940 Act or the Internal Revenue Code of
     1986, as amended, but the Board of Trustees shall not be liable for failing
     to do so, or (z) with respect to an amendment affecting a Fund or class,
     for any reason at any time, if there are no shares of such Fund or class
     outstanding at that time. In the event that the Board of Trustees, without
     shareholder approval, make any material amendment to the Declaration of
     Trust that affects the rights of shareholders, as determined by the Board
     of Trustees, notice of the substance of such amendment shall be provided to
     shareholders affected by such amendment at such time and in such manner as
     the Board of Trustees determine to be appropriate, provided, however, that
     the failure to provide such notice in any particular instance shall not
     affect the validity of such amendment.

     The Declaration of Trust provides that the Board of Trustees, subject to
     applicable law, may authorize the Trust or any Fund or class thereof to
     merge, reorganize or consolidate with any corporation, association, trust
     or series thereof (including another Fund or class of the Trust) or other
     entity (in each case, the "Surviving Entity") or the Board of Trustees may
     sell, lease or exchange all or substantially all of the property owned or
     held for the account of the Trust (or all or substantially all of the
     property allocated or belonging to a particular Fund or class) including
     its good will to any Surviving Entity, upon such terms and conditions and
     for such consideration as authorized by the Board of Trustees. Such
     transactions may be effected through share-for-share exchanges, transfers
     or sales of assets, in-kind redemptions and purchases, exchange offers, or
     any other method approved by the Board of Trustees. The Board of Trustees
     shall provide notice to affected shareholders of each transaction. The
     authority granted to the Board of Trustees under this provision of the
     Declaration of Trust remains subject to the requirements of the law. For
     example, rules under the 1940 Act require reorganizations involving
     affiliated funds to be approved by the shareholders of the fund being
     acquired unless certain conditions are satisfied. As a result, some
     transactions will require shareholder approval even though the Declaration
     of Trust may not otherwise require it. Such transactions could, in certain
     circumstances, adversely affect a Fund's or class' expense ratio or other
     aspects of a shareholder's investment.

     The Declaration of Trust also provides that shareholder meeting quorum
     requirements shall be established in the Trust's By-laws. The By-laws
     currently in effect provide that the presence in person or by proxy of the
     holders of thirty percent of the shares entitled to vote at a meeting (or
     of an individual series or class if required to vote separately) shall
     constitute a quorum for the transaction of business at meetings of
     shareholders of the Trust.

     On any matter submitted to a vote of shareholders, all shares of the Trust
     entitled to vote shall, except as otherwise provided in the Trust's
     By-Laws, be voted in the aggregate as a single class without regard to
     series or classes of shares, except (a) when required by applicable law or
     when the Trustees shall have determined that the matter affects one or more
     series or classes of shares materially differently, shares shall be voted
     by individual series or class; and (b) when the Trustees have determined
     that the matter affects only the interests of one or more series or
     classes, only shareholders of such series or classes shall be entitled to
     vote thereon.

     The Declaration of Trust provides that the Board of Trustees may, in its
     discretion, establish minimum investment amounts for shareholder accounts,
     impose fees on accounts that do not


                                      -4-

<PAGE>

     exceed a minimum investment amount and involuntarily redeem shares in any
     such account in payment of such fees. The Board of Trustees, in its sole
     discretion, also may cause the Trust to redeem all of the shares of the
     Trust or one or more series or classes held by any shareholder for any
     reason, to the extent permissible by the 1940 Act, including (a) if the
     shareholder owns shares having an aggregate net asset value of less than a
     specified minimum amount, (b) if a particular shareholder's ownership of
     shares would disqualify a series from being a regulated investment company,
     (c) upon a shareholder's failure to provide sufficient identification to
     permit the Trust to verify the shareholder's identity, (d) upon a
     shareholder's failure to pay for shares or meet or maintain the
     qualifications for ownership of a particular class or series of shares, (e)
     if the Board of Trustees determines (or pursuant to policies established by
     the Board it is determined) that share ownership by a particular
     shareholder is not in the best interests of remaining shareholders, (f)
     when a Fund is requested or compelled to do so by governmental authority or
     applicable law and (g) upon a shareholder's failure to comply with a
     request for information with respect to the direct or indirect ownership of
     shares of the Trust. The Declaration of Trust also authorizes the Board of
     Trustees to terminate a Fund or any class without shareholder approval, and
     the Trust may suspend the right of shareholders to require the Trust to
     redeem shares to the extent permissible under the 1940 Act.

     Upon the termination of the Trust or any series, after paying or adequately
     providing for the payment of all liabilities which may include the
     establishment of a liquidating trust or similar vehicle, and upon receipt
     of such releases, indemnities and refunding agreements as they deem
     necessary for their protection, the Trustees may distribute the remaining
     Trust property or property of the series, in cash or in kind or partly
     each, to the shareholders of the Trust or the series involved, ratably
     according to the number of shares of the Trust or such series held by the
     several shareholders of the Trust or such series on the date of
     termination, except to the extent otherwise required or permitted by the
     preferences and special or relative rights and privileges of any classes of
     shares of a series involved, provided that any distribution to the
     shareholders of a particular class of shares shall be made to such
     shareholders pro rata in proportion to the number of shares of such class
     held by each of them. The composition of any such distribution (e.g., cash,
     securities or other assets) shall be determined by the Trust in its sole
     discretion, and may be different among shareholders (including differences
     among shareholders in the same series or class).

     The Declaration of Trust provides that no shareholder shall have the right
     to bring or maintain any court action, proceeding or claim on behalf of the
     Trust without first making demand on the Board of Trustees requesting the
     Board of Trustees to bring or maintain such action, proceeding or claim.
     Such demand shall be made to the Secretary of the Trust at the Trust's
     principal office and shall set forth in reasonable detail the nature of the
     proposed court action, proceeding or claim and the essential facts relied
     upon by the shareholder to support the allegations made in the demand. The
     Board of Trustees, in their sole discretion, may submit the matter to a
     vote of the shareholders of the Trust, as appropriate. The Declaration of
     Trust also provides that any action commenced by a shareholder, directly or
     derivatively, against the Trust of a Fund or class thereof, the Board of
     Trustees or officers, shall be brought only in the U.S. District Court for
     the Southern District of New York; or if such action may not be brought in
     that court, then such action shall be brought in "the Business Litigation
     Session of the Massachusetts Superior Court in Suffolk County" (together
     with the U.S. District Court for the Southern District of New York, the
     "Chosen Courts"). The Declaration of Trust further provides that the Trust,
     its Trustees and officers, and shareholders (a) waive any objection to
     venue in either Chosen Court and (b) waive any objection that either Chosen
     Court is an inconvenient forum.

     Under Massachusetts law, shareholders of a Massachusetts business trust
     could, under certain circumstances, be held personally liable for
     obligations of a Fund. The Declaration of Trust, however, disclaims
     shareholder liability for acts or obligations of the Fund and requires that
     notice of such disclaimer be given in each agreement, obligation, or
     instrument entered into or executed by the Fund or the Fund's trustees.
     Moreover, the Declaration of Trust provides for indemnification out of Fund
     property for all losses and expenses of any shareholder held personally
     liable for the obligations of the Fund and the Fund may be covered by
     insurance which


                                      -5-

<PAGE>

     the Trustees consider adequate to cover foreseeable tort claims. Thus, the
     risk of a shareholder incurring financial loss on account of shareholder
     liability is considered by the Advisor remote and not material, since it is
     limited to circumstances in which a disclaimer is inoperative and the Fund
     itself is unable to meet its obligations.







               Please Retain This Supplement for Future Reference



June 20, 2008

                                      -6-