The Boards of Trustees of Deutsche High Income Trust
(NYSE:KHI), Deutsche Multi-Market Income Trust (NYSE:KMM), Deutsche
Municipal Income Trust (NYSE:KTF), Deutsche Strategic Municipal
Income Trust (NYSE:KSM) and Deutsche Strategic Income Trust
(NYSE:KST); and the Boards of Directors of Deutsche Global
High Income Fund, Inc. (NYSE:LBF) and Deutsche High Income
Opportunities Fund, Inc. (NYSE:DHG) (each, a “Fund” and
collectively, the “Funds”) announced today the results for the 2014
Annual Meeting of Shareholders for each Fund held on September 3,
2014.
For each of KHI, KMM and KST, a quorum was present and the Class
III Trustee nominees (John W. Ballantine, Dawn-Marie Driscoll,
Kenneth C. Froewiss and Rebecca W. Rimel) received a sufficient
number of votes to be elected as Trustees.
For each of KSM and KTF, a quorum was present and the Class III
Trustee nominees (John W. Ballantine, Kenneth C. Froewiss and
Rebecca W. Rimel) and preferred share Trustee nominees (Keith R.
Fox and Paul K. Freeman) received a sufficient number of votes from
the common and preferred shareholders voting together as a class
and from the preferred shares voting separately as a class,
respectively, to be elected as Trustees.
For LBF, a quorum was present and the Class III Directors
nominees (William McClayton, Rebecca W. Rimel and William N.
Searcy, Jr.) received a sufficient number of votes to be elected as
Directors.
For DHG, a quorum was present and the Class I Director nominees
(John W. Ballantine, Dawn-Marie Driscoll, Kenneth C. Froewiss and
Rebecca W. Rimel) received a sufficient number of votes to be
elected as Directors.
For more information on each Fund visit www.deutschefunds.com or
call (800) 349-4281.
Important Information
Deutsche Global High Income Fund, Inc. seeks high current
income with a secondary objective of capital appreciation. The Fund
is subject to investment risk. Bond and loan investments are
subject to interest-rate and credit risks. 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.
Floating rate loans tend to be rated below-investment grade and may
be more vulnerable to economic or business changes than issuers
with investment-grade credit. Investing in foreign securities,
particularly those of emerging markets, presents certain risks,
such as currency fluctuations, political and economic changes, and
market risks. Leverage results in additional risks and can magnify
the effect of any gains or losses.
Deutsche High Income Opportunities Fund, Inc. seeks high
current income with a secondary objective of total return. The Fund
pursues its investment objectives by investing primarily in
securities designed to generate income, with the potential for
capital appreciation being a secondary consideration. The
Fund may invest in a broad range of income-producing securities,
including, but not limited to, domestic and foreign debt securities
of any credit quality or maturity (including below investment grade
debt securities and debt securities of issuers located in countries
with new or emerging securities markets), convertible securities
(including convertible bonds), dividend-paying common stocks,
preferred stocks, and securities of real estate investment trusts
(“REITS”), energy trusts and other investment companies. The
Fund may invest in debt securities not paying interest currently
and securities in default. In addition, the Fund may invest
in senior bank loans, including bank loan participations and
assignments. The Fund may buy or sell protection on credit
exposure and may also purchase securities on a when-issued basis
and engage in short sales. The Fund may invest in cash or
money market instruments in the event portfolio management
determines that securities meeting the Fund’s investment objectives
are not readily available for purchase. Future earnings of the Fund
cannot be guaranteed and the Fund's dividend policy is subject to
change. Any fund that concentrates in a particular segment of the
market will generally be more volatile than a fund that invests
more broadly. Bond investments are subject to interest-rate and
credit risks. 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
foreign securities, particularly those of emerging markets,
presents certain risks, such as currency fluctuations, political
and economic changes, and market risks. Stocks may decline in
value. 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 losses. There are special risks
associated with an investment in real estate, including REITS.
These risks include credit risk, interest rate fluctuations and the
impact of varied economic conditions.
Deutsche High Income Trust seeks to provide the highest
current income obtainable, consistent with reasonable risk, with
capital gains secondary. Bond investments are subject to
interest-rate and credit risks. 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 losses. Investing in
foreign securities, particularly those of emerging markets,
presents certain risks, such as currency fluctuations, political
and economic changes, and market risks.
Deutsche Multi-Market Income Trust seeks to provide high
income consistent with prudent total return. The fund invests in a
range of income-producing securities such as US corporate
fixed-income securities and debt obligations of foreign
governments, their agencies and instrumentalities which may be
denominated in foreign currencies and may not be rated. Bond
investments are subject to interest-rate and credit risks. 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 losses.
Investing in foreign securities, particularly those of emerging
markets, presents certain risks, such as currency fluctuations,
political and economic changes, and market risks.
Deutsche Municipal Income Trust seeks to provide high current
income exempt from federal income tax by investing in a diversified
portfolio of investment-grade tax-exempt securities. Bond
investments are subject to interest-rate and credit risks. 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. 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 losses. Although the fund seeks
income that is federally tax-free, a portion of the fund’s
distributions may be subject to federal, state and local taxes,
including the alternative minimum tax.
Deutsche Strategic Income Trust seeks to provide high current
income by investing its assets in a combination of (a) lower-rated,
corporate fixed-income securities; (b) fixed-income securities of
emerging markets and other foreign issuers; and (c) fixed-income
securities of the US government and its agencies and
instrumentalities, and mortgage-backed issuers. Bond
investments are subject to interest-rate and credit risks. 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 losses.
Investing in foreign securities, particularly those of emerging
markets, presents certain risks, such as currency fluctuations,
political and economic changes, and market risks.
Deutsche Strategic Municipal Income Trust seeks a high level
of current income exempt from federal income tax. The fund will
invest at least 50 percent of its assets in investment-grade
municipal securities or unrated municipal securities of comparable
quality, and may invest up to 50 percent of its assets in
high-yield municipal securities that are below investment grade.
Bond investments are subject to interest-rate and credit risks.
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. 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 losses. Although the fund
seeks income that is federally tax-free, a portion of the fund’s
distributions may be subject to federal, state and local taxes,
including the alternative minimum tax.
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, a 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.
NOT FDIC/ NCUA INSURED • MAY LOSE VALUE
• NO BANK GUARANTEE
NOT A DEPOSIT • NOT INSURED BY ANY
FEDERAL GOVERNMENT AGENCY
Deutsche Asset & Wealth Management represents the asset
management and wealth management activities conducted by Deutsche
Bank AG or any of its subsidiaries. Clients will be provided
Deutsche Asset & Wealth Management products or services by one
or more legal entities that will be identified to clients pursuant
to the contracts, agreements, offering materials or other
documentation relevant to such products or services.
(R-32526-2 8/14)
For additional
information:Deutsche Bank Press Office (212)
250-5536Shareholder Account Information (800)
294-4366Deutsche Closed-End Funds (800) 349-4281
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