With shareholder and Board of Directors approval, the fund has been renamed the DWS World Dividend Fund (SERAX).
A press release said the fund will reflect two significant changes to its investment strategy: a change in objective from growth with a focus on European common stocks, to a total return strategy with a focus on global high-dividend stocks; and a change of benchmark from the MSCI Europe Index to the MSCI World High Dividend Yield Index. The fund will be managed by Thomas Schuessler, Oliver Pfeil, Peter Steffen, and Fabian Degen, DWS’ Frankfurt -based value equities team.According to the announcement, under the new investment strategy, the DWS World Dividend Fund will focus on total return emphasizing both current income and capital appreciation. The fund will invest at least 80% of net assets in companies across the globe with high dividends payouts and the opportunity for further dividend growth. The underlying goal is to help investors maintain a certain cash flow, while attempting to remove duration bond risk from their portfolios and improve long-term growth potential.