Cash Account Trust
DWS Government & Agency Securities
Portfolio
DWS California Tax-Free Income Fund
DWS CROCI® Equity Dividend Fund
DWS CROCI®International Fund
DWS Emerging Markets Equity Fund
DWS Emerging Markets Fixed Income Fund
DWS Enhanced Commodity Strategy Fund
DWS Equity 500 Index Fund
DWS Equity Sector Strategy Fund
DWS ESG International Core Equity Fund
DWS Global High Income Fund
DWS Global Income Builder Fund
DWS Global Small Cap Fund
DWS GNMA Fund
DWS Government Money Market Series
DWS Health and Wellness Fund
DWS Intermediate Tax-Free Fund
DWS International Growth Fund
DWS Large Cap Focus Growth Fund
DWS Latin America Equity Fund
DWS Managed Municipal Bond Fund
DWS Massachusetts Tax-Free Fund
DWS Money Market Prime Series
DWS Multi-Asset Conservative Allocation Fund
DWS Multi-Asset Moderate Allocation Fund
DWS New York Tax-Free Income Fund
DWS RREEF Global Infrastructure Fund
DWS RREEF Global Real Estate Securities Fund
DWS RREEF Real Assets Fund
DWS RREEF Real Estate Securities Fund
DWS Science and Technology Fund
DWS Short-Term Municipal Bond Fund
DWS Small Cap Core Fund
DWS Small Cap Growth Fund
DWS Strategic High Yield Tax-Free Fund
DWS Total Return Bond Fund
Deutsche DWS Variable Series I:
DWS CROCI®International VIP
Deutsche DWS Variable Series II:
DWS Alternative Asset Allocation VIP
DWS Global Income Builder VIP
DWS Government Money Market VIP
DWS International Growth VIP
DWS Small Mid Cap Growth VIP
DWS Small Mid Cap Value VIP
Deutsche DWS Investments VIT Funds:
Each of the following is effective as of March 27, 2024:
Mr. John W. Ballantine retired from the Board of each fund.
Mr. Keith R. Fox was appointed to the Audit Committee of each fund.
Mr. Chad D. Perry was appointed to the Board (and to the respective Nominating and
Governance and Operations Committees thereof) of each of the following Massachusetts business trusts or Maryland corporations:
Deutsche DWS Asset Allocation Trust; Deutsche DWS Equity 500 Index Portfolio; Deutsche DWS Global/International
Fund, Inc.; Deutsche DWS Income Trust; Deutsche DWS Institutional Funds; Deutsche DWS International Fund, Inc.; Deutsche
DWS Investment Trust; Deutsche DWS Investments VIT Funds; Deutsche DWS Money Market Trust; Deutsche DWS Municipal
Trust; Deutsche DWS Portfolio Trust; Deutsche DWS Securities Trust; Deutsche DWS Tax Free Trust; Deutsche
DWS Variable Series I; and Government Cash Management Portfolio. Prior to March 27, 2024, Mr. Perry was an Advisory Board
Member for each of the named Massachusetts business trusts or Maryland corporations.
Please Retain This Supplement for Future Reference