The folks at Deutsche Asset Management (DeAM) are continuing the turnaround attempt at DWS Scudder by adding to more funds to their complex. On Friday the firm opened an international value fund and a global REIT fund to investors. Axel Schwarzer, chief executive officer of DWS Scudder, said that the two funds are part of an effort to bring the German bank's global investment expertise to investors in the United States.

The two new open-ended funds are the DWS International Value Opportunities Fund and the DWS RREEF Global Real Estate Securities Fund. The latter fund is managed by a team led by Klaus Kaldemorgen, global head of Equities for Deutsche Asset Management. Kaldemorgen is a German based in Europe and a 24-year veteran of DWS. This is the first time that he is managing a U.S. mutual fund.

The REIT fund is sub-advised by RREEF America. John Robertson is leading the portfolio management team for that firm.

"The addition of DWS International Value Opportunities Fund and DWS RREEF Global Real Estate Securities Fund to the DWS product line-up offers US investors the experience and global perspective of two of Deutsche Asset Management's most successful businesses -- DWS and RREEF," said Schwarzer. "With Klaus Kaldemorgen and John Robertson at the helm of these two funds, we are delighted to provide US investors with the opportunity to tap into our global investment expertise and skills of these particular managers."  

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