EFTA00591037.pdf

The current environment may present an attractive opportunity for value investing Over the long runt, value stocks have outperformed growth stocks... 700 9.00% - 8.56% 600 • Russell 1000 Value Index 8.50% - 500 8.00% - • Russell 1000 Growth Index 400 7.49% 300 7.50% - 200 7.00% - 100 6.50% 0 Annualized Total Return (10/1/1995 - 9/30/2015) Russell 1000 Value Index 2 —Russell 1000 Growth Index 2 A2, 5 141/17, 4\cPielnoe fell eseestf44564:0>b ...however, the recent market correction ...and growth valuations have expanded, has effected value more than growth... while value has remained relatively flat. 135 130 125 120 115 110 105 100 ee e ^a 24. Nt• .„tb. 0. t,<" tS 6) OP P 01,O z5)% OHO 4:* .0 (O C tser t•\÷. 4 4.9. 9" —Russell 1000 Value Index 3 Russell 1000 Growth Index 3 Source: Bloomberg LP 1.20 years ending 9/30/2015 2. Total return for Indices from 10/1/1995 — 9/30/2015 (Norrnaized to 100 al10/1/1995) 25.00 21.78 20.00 15.00 10.00 5.00 - 0.00 16.71 14.34 ; 14.90 20.24 15.94 October 2010 October 2014 October 2015 •Russell 1000 Value Index PE Ratio 4 •Russell 1000 Growth Index PE Ratio 4 3. Total return for indices from 10/14/15 to 10/13/15 (Normalized to 100 at 10/14/15) 4. Bloomberg values for PE Ratios on 10/13/2010, 10/13/2014, and 10/13/2014 Deutsche Asset & Wealth Management 1 EFTA00591037 Important Information This document has been prepared for informational purposes only and is not an offer, or solicitation of an offer, to buy or sell any security. or a recommendation to enter into any transaction relating to the products and services described herein. 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