SUPPLEMENT TO THE CURRENTLY EFFECTIVE PROSPECTUSES, SUMMARY PROSPECTUSES AND STATEMENTS OF ADDITIONAL INFORMATION OF EACH OF THE LISTED FUNDS

Transcription

1 SUPPLEMENT TO THE CURRENTLY EFFECTIVE PROSPECTUSES, SUMMARY PROSPECTUSES AND STATEMENTS OF ADDITIONAL INFORMATION OF EACH OF THE LISTED FUNDS Cash Accunt Trust Tax-Exempt Prtfli Daily Assets Fund Deutsche Mney Market Prime Series Deutsche Variable NAV Mney Fund In July f 2014, the Securities and Exchange Cmmissin ( SEC ) adpted mney market fund refrms that impact the peratin f registered mney market funds, including the funds. The funds are required t cmply with mney market fund refrms by the specified cmpliance dates, with the latest being Octber 14, 2016 (the Cmpliance Date). Under the mney market fund refrms, registered mney market funds that qualify as retail mney market funds and gvernment mney market funds will be permitted t cntinue t utilize the amrtized cst methd f valuatin t seek t transact at a stable net asset value per share ( NAV ) n r after the Cmpliance Date. A retail mney market fund is defined under the mney market fund refrms as a fund that has plicies and prcedures reasnably designed t limit all beneficial wners f the fund t natural persns. Registered mney market funds that d nt qualify as retail mney market funds r gvernment mney market funds (cllectively, institutinal mney market funds ) wuld be required t price and transact in their shares at a flating NAV reflecting current market values fr their prtfli securities n r befre the Cmpliance Date. The Deutsche Variable NAV Mney Fund currently prcesses and transacts in its shares at a flating NAV calculated at 4 p.m. each day that the fund is pen fr business. Retail mney market funds and institutinal mney market funds must als implement plicies and prcedures reasnably designed t ensure the funds will be able t impse liquidity fees n redemptins and/r redemptin gates suspending redemptins under certain limited circumstances and subject t the actins f the fund s Bard by the Cmpliance Date. On r prir t the Cmpliance Date, each fund and all its share classes will qualify as either a retail mney market fund r institutinal mney market fund as fllws: Fund Type Stable NAV Permitted Implementatin f Liquidity Fees and/r Redemptin Gates Deutsche Mney Market Prime Series Retail Mney Market Fund Yes Yes Cash Accunt Trust: Tax-Exempt Prtfli Retail Mney Market Fund Yes Yes Daily Assets Fund Institutinal Mney Market Fund N Yes Deutsche Variable NAV Mney Fund Institutinal Mney Market Fund N Yes Deutsche Retail Mney Market Funds On r abut September 16, 2016, Deutsche Mney Market Prime Series and Tax-Exempt Prtfli f Cash Accunt Trust (the Deutsche Retail MMFs ) will implement plicies and prcedures that are reasnably designed t limit beneficial wnership f each fund s shares t natural persns. On such date, nly accunts beneficially wned by natural persns will be permitted t retain their shares in each Deutsche Retail MMF. Each Deutsche Retail MMF will cntinue t perate with its existing investment bjective and investment strategies and will cntinue t seek t maintain a $1.00 stable NAV. (Althugh each fund will seek t maintain a $1.00 NAV,

2 there is n guarantee that it will be able t d s and if the NAV falls belw $1.00, yu wuld lse mney.) In additin, each Deutsche Retail MMF will be required t be able t implement liquidity fees and/r redemptin gates by the Cmpliance Date. Natural persns may invest, r cntinue t invest, in a Deutsche Retail MMF directly r thrugh certain taxadvantaged savings accunts, trusts and ther retirement accunts, which may include participant directed defined cntributin plans, individual retirement accunts, simplified emplyee pensin arrangements, simple retirement accunts, custdial accunts, deferred cmpensatin plans, medical savings accunts, cllege savings plans, health savings accunt plans, r certain ther accunts where the ultimate decisin maker is an institutin (e.g., an investment adviser managing discretinary investment accunts fr natural persns r a plan spnsr f a retirement accunt). In rder t separate eligible investrs within the funds, the Bard f each Deutsche Retail MMF, n the recmmendatin f Deutsche Investment Management Americas Inc. ( DIMA ), apprved the clsing f each Deutsche Retail MMF t new investrs that are nt natural persns effective n r abut July 1, On r abut September 15, 2016, financial intermediaries will be required t take steps t remve any sharehlders n behalf f whm they hld shares in a Deutsche Retail MMF that are nt eligible t be invested in the fund. Financial intermediaries will als be required t prvide the funds a written statement r ther representatin that they have in place, and perate in cmpliance with, plicies and prcedures that are reasnably designed t limit beneficial wnership f the funds t natural persns. Financial intermediaries will nt be permitted t submit purchase rders if they have nt prvided such a written statement r representatin. In rder t ensure that the Deutsche Retail MMFs are beneficially wned by natural persns, each fund may redeem investrs that d nt satisfy the eligibility requirements f the Deutsche Retail MMFs. Each Deutsche Retail MMF will prvide advanced written ntice f its intent t make any such invluntary redemptins. Effective n r abut September 15, 2016, the Deutsche Retail MMFs may invluntarily redeem shares in accunts if Deutsche Retail MMF des nt believe that the accunt is beneficially wned by a natural persn. In additin, the share class f Tax Exempt Prtfli nted belw will change its name effective n r abut July 1, 2016 as fllws: Current Share Class Name Deutsche Tax-Exempt Cash Institutinal Shares New Share Class Name (Effective n r Abut July 1, 2016) Deutsche Tax-Exempt Cash Premier Shares 2

3 A summary f the key dates and events fr the Deutsche Retail MMFs is set frth belw: Effective n r abut July 1, 2016: The Deutsche Retail MMFs will nt pen any new accunt f which the beneficial wner is nt a natural persn. The Deutsche Tax-Exempt Cash Institutinal Shares class f Tax-Exempt Prtfli will change its name t Deutsche Tax-Exempt Cash Premier Shares. Effective n r abut September 15, 2016: The Deutsche Retail MMFs may invluntarily redeem shares in accunts if the Deutsche Retail MMF des nt believe that the accunt is beneficially wned by a natural persn. Financial intermediaries will be required t take steps t remve any sharehlders n behalf f whm they hld shares in a Deutsche Retail MMF that are nt eligible t be invested in the fund. Financial intermediaries will be required t have prvided the Deutsche Retail MMFs with a written statement r ther representatin that they have in place, and perate in cmpliance with, plicies and prcedures that are reasnably designed t limit beneficial wnership f the funds t natural persns. Financial intermediaries will nt be permitted t submit purchase rders if they have nt prvided such a written statement r representatin. Effective n r abut September 16, 2016: The Deutsche Retail MMFs will implement plicies and prcedures that are reasnably designed t limit beneficial wnership f each fund s shares t natural persns. Effective n r abut Octber 14, 2016: The Deutsche Retail MMFs will implement plicies and prcedures reasnably designed t ensure the funds will be able t impse liquidity fees n redemptins and/r redemptin gates suspending redemptins under certain limited circumstances and subject t the actins f the fund s Bard. Deutsche Institutinal Mney Market Funds Under the mney market fund refrms, all investrs, including natural persns, that meet the eligibility requirements may purchase shares f Daily Assets Fund and Deutsche Variable NAV Mney Fund (the Deutsche Institutinal MMFs ), but the funds will be required t price and transact in their shares at a flating NAV t fur decimal places in the case f a fund with a $1.00 target share price (e.g., $1.0000) r an equivalent r mre precise level f accuracy fr funds with a different share price (e.g., a fund that has a target share price f $10.00 culd price its share at $10.000) reflecting current market values fr their prtfli securities n r befre the Cmpliance Date. Currently, the Deutsche Variable NAV Mney Fund transacts in its shares at a flating NAV calculated at 4 p.m. each business day. DIMA currently expects that the Daily Assets Fund will transitin t a flating NAV n r abut Octber 10, As a result, Daily Assets Fund will begin t value its prtfli securities using market based factrs and will n lnger use the amrtized cst methd f valuatin effective n r abut Octber 10,

4 In rder t prvide sharehlders with liquidity multiple times per day, DIMA recmmended, and the Bard f each fund apprved, that the NAV fr each class f the Deutsche Institutinal MMFs be calculated, effective n r abut Octber 10, 2016, as f the fllwing times each day that the fund is pen fr business: Fund Current NAV Calculatin Time New NAV Calculatin Times (Effective n r abut Octber 10, 2016) Deutsche Variable NAV Mney Fund 4:00 p.m. 9:00 a.m.; 12:00 p.m.; 3:00 p.m.; and 5:00 p.m. Daily Assets Fund 5:00 p.m. 9:00 a.m.; 12:00 p.m.; 3:00 p.m.; and 5:00 p.m. Until such date, the Daily Assets Fund will cntinue t seek t maintain a stable $1.00 NAV using the amrtized cst methd t value its prtfli securities. (Althugh the fund will seek t maintain a $1.00 NAV, there is n guarantee that it will be able t d s and if the NAV falls belw $1.00, yu wuld lse mney.) Additinally, Deutsche Variable NAV Mney Fund will cntinue t prcess and transact in its shares at a flating NAV calculated nce each business day reflecting current market values fr its prtfli securities. Prcessing f Trade Orders All purchase, redemptin and exchange rders must be received in gd rder and will generally be priced at the NAV next calculated after it is received in gd rder. If a wire transfer purchase rder is received in gd rder fr befre 9:00 a.m., 12:00 p.m. r 3:00 p.m. Eastern time, it will nrmally receive the dividend fr that day. Purchase rders prcessed at 5:00 p.m. Eastern time will nt receive the dividend fr that day. Redemptin rders prcessed at 9:00 a.m., 12:00 p.m. r 3:00 p.m. will nt be entitled t that day s dividend. Hwever, redemptin rders prcessed at 5:00 p.m. will be entitled t the same day dividend. A summary f the key dates and events fr the Deutsche Institutinal MMFs is set frth belw: Effective n r abut Octber 10, 2016: Daily Assets Fund will transitin it share price frm a stable NAV f $1.00 t a flating NAV. Daily Assets Fund will begin t use market based factrs and will n lnger use the amrtized cst methd f valuatin t value its prtfli securities. Each Deutsche Institutinal MMF will calculate its NAV multiple times each day that the fund is pen fr business (typically, 9:00 a.m., 12:00 p.m., 3:00 p.m., and 5:00 p.m.). Effective n r abut Octber 14, 2016: The Deutsche Institutinal MMFs will implement plicies and prcedures reasnably designed t ensure the funds will be able t impse liquidity fees n redemptins and/r redemptin gates suspending redemptins under certain limited circumstances and subject t the actins f the fund s Bard. 4

5 Liquidity Fees and Redemptin Gates Effective n r abut Octber 14, 2016, if a Deutsche Retail MMF s r Deutsche Institutinal MMF s weekly liquid assets fall belw 30%, the Bard f the fund may, in its discretin, impse a liquidity fee f up t 2% f the value f the shares redeemed and/r put n a gate t temprarily suspend redemptins. In additin, if a Deutsche Retail MMF s r Deutsche Institutinal MMF s weekly liquid assets fall belw 10%, the fund must impse a liquidity fee f 1% f the value f the shares redeemed, unless the Bard f the fund determines that nt ding s is in the best interest f the Fund. Weekly liquid assets include (i) cash, (ii) direct bligatins f the U.S. Gvernment, (iii) Gvernment securities that are issued by a persn cntrlled r supervised by and acting as an instrumentality f the U.S. Gvernment pursuant t authrity granted by Cngress that are issued at a discunt t the principal amunt t be repaid at maturity withut prvisin fr the payment f interest and have a remaining maturity date f 60 days r less, (iv) securities that will mature r are subject t a demand feature that is exercisable and payable within five business days, r (v) amunts receivable and due uncnditinally within five business days n pending sales f prtfli securities. A liquidity fee r redemptin gate must autmatically terminate at the beginning f the next business day nce a fund s weekly liquid assets reach at least 30% f its ttal assets. Additinally, redemptin gates may nly be put in place fr up t 10 business days in any 90-day perid. In additin, the Bard may, in its discretin, terminate a liquidity fee r redemptin gate at any time if it believes such actin t be in the best interest f the fund. T the extent a fund implements a liquidity fee, it is currently expected that the liquidity fee wuld generally apply t all redemptins at the first net asset value calculatin n the next business day fllwing ntificatin t financial intermediaries and sharehlders. Hwever, the Bard, in its discretin, may elect t impse a liquidity fee n an intra-day basis. A liquidity fee will be charged n all redemptin rders submitted after the effective time f the impsitin f the fee by the Bard. A liquidity fee wuld reduce the amunt yu receive upn redemptin f yur shares. In the event that a fund impses a redemptin gate, the fund r any financial intermediary will nt accept a redemptin request until the fund prvides ntice that the redemptin gate has been remved. It is als currently expected that a redemptin gate wuld be implemented cncurrently with the ntificatin t financial intermediaries and sharehlders. Redemptin requests that are received when a redemptin gate is impsed will be cancelled withut further ntice. If yu wish t redeem nce the redemptin gate has been lifted, yu will need t submit a new redemptin request. When a liquidity fee r redemptin gate is in place, a fund may elect t cntinue t permit the purchase f fund shares. The impsitin and terminatin f liquidity fees r redemptin gates is required t be reprted t the SEC n Frm N-CR. In additin, a fund will cmmunicate the decisin t impse a liquidity fee r redemptin gate t sharehlders via the Deutsche Funds websites (dbadvisrsliquidity.cm/us r deutschefunds.cm) and thrugh a supplement t the affected funds prspectuses. Please Retain This Supplement fr Future Reference 5

6 Summary Prspectus December 1, 2015 Deutsche Mney Market Prime Series Class/Ticker Deutsche Mney Market Fund KMMXX Befre yu invest, yu may want t review the fund s prspectus, which cntains mre infrmatin abut the fund and its risks.yu can find the fund s prspectus, Statement f Additinal Infrmatin (SAI) and ther infrmatin abut the fund nline at deutschefunds.cm/ mneyprs.yu can als get this infrmatin at n cst by ing a request t service@db.cm, calling (800) r asking yur financial advisr.the prspectus and SAI, bth dated December 1, 2015, as supplemented, are incrprated by reference int this Summary Prspectus. INVESTMENT OBJECTIVE The fund seeks maximum current incme t the extent cnsistent with stability f principal. FEES AND EXPENSES OF THE FUND These are the fees and expenses yu may pay when yu buy and hld shares. SHAREHOLDER FEES (paid directly frm yur investment) Accunt Maintenance Fee (annually, fr fund accunt balances belw $10,000 and subject t certain exceptins) $20 ANNUAL FUND OPERATING EXPENSES (expenses that yu pay each year as a%fthevaluefyurinvestment) Management fee 0.23 Distributin/service (12b-1) fees Nne Other expenses 0.27 Ttal annual fund perating expenses 0.50 EXAMPLE This Example is intended t help yu cmpare the cst f investing in the fund with the cst f investing in ther mutual funds. The Example assumes that yu invest $10,000 in the fund fr the time perids indicated and then redeem all f yur shares at the end f thse perids. The Example als assumes that yur investment has a 5% return each year and that the fund s perating expenses remain the same. Althugh yur actual csts may be higher r lwer, based n these assumptins yur csts wuld be: 1 Year 3 Years 5 Years 10 Years $51 $160 $280 $628 PRINCIPAL INVESTMENT STRATEGY The fund is a mney market fund that is managed in accrdance with federal regulatins which gvern the quality, maturity, diversity and liquidity f instruments in which a mney market fund may invest. The fund invests in high quality, shrt-term, US dllar denminated mney market instruments, including bligatins f US and freign banks, crprate bligatins, US gvernment securities, municipal securities, repurchase agreements and asset-backed securities, paying a fixed, variable r flating interest rate. Under nrmal market cnditins, the fund will invest mre than 25% f its ttal assets in the bligatins f banks and ther financial institutins that satisfy the fund s eligibility requirements. The fund may invest up t 10% f its ttal assets in ther mney market funds. Wrking in cnsultatin with prtfli management, a credit team screens ptential securities and develps a list f thse that the fund may buy. Prtfli management, lking fr attractive yield and weighing cnsideratins such as credit quality, ecnmic utlks and pssible interest rate mvements, then decides which securities n this list t buy. Securities Lending. The fund may lend securities (up t ne-third f ttal assets) t apprved institutins. MAIN RISKS There are several risk factrs that culd reduce the yield yu get frm the fund, cause the fund s perfrmance t trail that f ther investments, r cause yu t lse mney. Mney market fund risk. An investment in the fund is nt insured r guaranteed by the FDIC r any ther gvernment agency. Althugh the fund seeks t preserve the value f yur investment at $1.00 per share, this share price isn t guaranteed, and if it falls belw $1.00 yu wuld lse mney. The Advisr is nt bligated t take any actin t maintain the $1.00 share price. The share price culd fall belw $1.00 as a result f the actins f ne r mre large 1

7 investrs in the fund. The credit quality f the fund s hldings can change rapidly in certain markets, and the default f a single hlding culd cause the fund s share price t fall belw $1.00, as culd perids f high redemptin pressures and/r illiquid markets. Interest rate risk. Rising interest rates culd cause the value f the fund s investments and therefre its share price as well t decline. Cnversely, any decline in interest rates is likely t cause the fund s yield t decline, and during perids f unusually lw interest rates, the fund s yield may apprach zer. A lw interest rate envirnment may prevent the fund frm prviding a psitive yield r paying fund expenses ut f current incme and, at times, culd impair the fund s ability t maintain a stable $1.00 share price. Over time, the ttal return f a mney market fund may nt keep pace with inflatin, which culd result in a net lss f purchasing pwer fr lng-term investrs. Credit risk. The fund s perfrmance culd be hurt and the fund s share price culd fall belw $1.00 if an issuer f a debt security suffers an adverse change in financial cnditin that results in the issuer nt making timely payments f interest r principal, a security dwngrade r an inability t meet a financial bligatin. Sme securities issued by US gvernment agencies r instrumentalities are backed by the full faith and credit f the US gvernment. Other securities that are supprted nly by the credit f the issuing agency r instrumentality are subject t greater credit risk than securities backed by the full faith and credit f the US gvernment. This is because the US gvernment might prvide financial supprt, but has n bligatin t d s, if there is a ptential r actual lss f principal r failure t make interest payments. Because f the rising US gvernment debt burden, it is pssible that the US gvernment may nt be able t meet its financial bligatins r that securities issued by the US gvernment may experience credit dwngrades. Such a credit event may als adversely impact the financial markets and the fund. Liquidity and transactin risk. The liquidity f prtfli securities can deterirate rapidly due t credit events affecting issuers r guarantrs r due t general market cnditins and a lack f willing buyers. When there are n willing buyers and an instrument cannt be readily sld at a desired time r price, the fund may have t accept a lwer price r may nt be able t sell the instrument at all. An inability t sell ne r mre prtfli securities can adversely affect the fund s ability t maintain a $1.00 share price r prevent the fund frm being able t take advantage f ther investment pprtunities. Unusual market cnditins, an unusually high vlume f redemptin requests r ther similar cnditins culd cause the fund t be unable t pay redemptin prceeds within a shrt perid f time. If the fund is frced t sell securities at an unfavrable time and/r under unfavrable cnditins, such sales may adversely affect the fund s ability t maintain a $1.00 share price. Security selectin risk. Althugh shrt-term securities are relatively stable investments, it is pssible that the securities in which the fund invests will nt perfrm as expected. This culd cause the fund s returns t lag behind thse f similar mney market funds and culd result in a decline in share price. Municipal securities risk. The fund culd be impacted by events in the municipal securities market, including the supply and demand fr municipal securities. Negative events, such as severe fiscal difficulties, bankruptcy f ne r mre issuers, an ecnmic dwnturn, unfavrable legislatin, curt rulings r plitical develpments, r reduced mnetary supprt frm the federal gvernment culd hurt fund perfrmance. Repurchase agreement risk. If the party that sells the securities t the fund defaults n its bligatin t repurchase them at the agreed-upn time and price, the fund culd lse mney. Cunterparty risk. A financial institutin r ther cunterparty with whm the fund des business, r that underwrites, distributes r guarantees any investments r cntracts that the fund wns r is therwise expsed t, may decline in financial health and becme unable t hnr its cmmitments. This culd cause lsses fr the fund r culd delay the return r delivery f cllateral r ther assets t the fund. Cncentratin risk. Any fund that cncentrates in a particular segment f the market will generally be mre vlatile than a fund that invests mre bradly. Any market price mvements, regulatry r technlgical changes, r ecnmic cnditins affecting banks r financial institutins will have a significant impact n the fund s perfrmance. Prepayment and extensin risk. When interest rates fall, issuers f high interest debt bligatins may pay ff the debts earlier than expected (prepayment risk), and the fund may have t reinvest the prceeds at lwer yields. When interest rates rise, issuers f lwer interest debt bligatins may pay ff the debts later than expected (extensin risk), thus keeping the fund s assets tied up in lwer interest debt bligatins. Ultimately, any unexpected behavir in interest rates culd increase the vlatility f the fund s yield and culd hurt fund perfrmance. Prepayments culd als create capital gains tax liability in sme instances. Freign investment risk. Freign investments include certain special risks, such as unfavrable plitical and legal develpments, limited financial infrmatin, regulatry risk and ecnmic and financial instability. Regulatry risk. In July 2014, the SEC adpted mney market fund refrm intended t address ptential systemic risks assciated with mney market funds and t imprve 2 Deutsche Mney Market Prime Series Summary Prspectus December 1, 2015

8 transparency fr mney market fund investrs. The fund is required t cmply with mney market refrms by the specified cmpliance dates, with the latest being Octber 14, As a result, the fund may be required t take certain steps that will impact its structure and/r peratins, which culd impact the return ptential f the fund. Securities lending risk. Any decline in the value f a prtfli security that ccurs while the security is ut n lan is brne by the fund and will adversely affect perfrmance. Als, there may be delays in recvery f securities laned r even a lss f rights in the cllateral shuld the brrwer f the securities fail financially while hlding the security. Operatinal and technlgy risk. Cyber-attacks, disruptins, r failures that affect the fund s service prviders r cunterparties, issuers f securities held by the fund, r ther market participants may adversely affect the fund and its sharehlders, including by causing lsses fr the fund r impairing fund peratins. PAST PERFORMANCE Hw a fund s returns vary frm year t year can give an idea f its risk. Past perfrmance may nt indicate future results. All perfrmance figures belw assume that dividends were reinvested. The 7-day yield, which is ften referred t as the current yield, is the incme generated by the fund ver a seven-day perid. This amunt is then annualized, which means that we assume the fund generates the same incme every week fr a year. Fr mre recent perfrmance figures and the current yield, g t deutschefunds.cm (the Web site des nt frm a part f this prspectus) r call the telephne number included in this prspectus. CALENDAR YEAR TOTAL RETURNS (%) (Deutsche Mney Market Fund) Returns Perid ending Best Quarter 1.28% September 30, 2007 Wrst Quarter 0.00% March 31, 2011 Year-t-Date 0.01% September 30, 2015 AVERAGE ANNUAL TOTAL RETURNS (Fr perids ended 12/31/2014 expressed as a %) Class Inceptin 1 Year 5 Years 10 Years 11/25/ Ttal returns wuld have been lwer if perating expenses had nt been reduced. MANAGEMENT Investment Advisr Deutsche Investment Management Americas Inc. PURCHASE AND SALE OF FUND SHARES MINIMUM INITIAL INVESTMENT ($) Autmatic Nn-IRA IRAs Investment Plans Deutsche Mney PLUS Accunt SM 1, ,000 The minimum additinal investment is $50. Hwever, fr an Autmatic Investment Plan in a Deutsche MneyPLUS Accunt SM, the mnthly minimum additinal investment is $1,500. TO PLACE ORDERS Mail New Accunts Deutsche Asset & Wealth Management PO Bx Kansas City, MO Additinal Investments Deutsche Asset & Wealth Management PO Bx Kansas City, MO Exchanges and Redemptins Deutsche Asset & Wealth Management PO Bx Kansas City, MO Expedited Mail Deutsche Asset & Wealth Management 210 West 10th Street Kansas City, MO Web Site deutschefunds.cm Telephne (800) M F8a.m. 8p.m.ET TDD Line (800) , M F8a.m. 8p.m. ET Initial investments must be sent by mail. Yu can make additinal investments r sell shares f the fund n any business day by visiting ur Web site, by mail, r by telephne. The fund is generally pen n days when the New Yrk Stck Exchange is pen fr regular trading. TAX INFORMATION The fund s distributins are generally taxable t yu as rdinary incme r capital gains, except when yur investment is in an IRA, 401(k), r ther tax-advantaged investment plan. Any withdrawals yu make frm such tax-advantaged investment plans, hwever, may be taxable t yu. 3 Deutsche Mney Market Prime Series Summary Prspectus December 1, 2015

9 PAYMENTS TO BROKER-DEALERS AND OTHER FINANCIAL INTERMEDIARIES If yu purchase the fund thrugh a brker-dealer r ther financial intermediary (such as a bank), the fund and its related cmpanies may pay the intermediary fr the sale f fund shares and related services. These payments may create a cnflict f interest by influencing the brker-dealer r ther intermediary and yur salespersn t recmmend the fund ver anther investment. Ask yur salespersn r visit yur financial intermediary s Web site fr mre infrmatin. 4 Deutsche Mney Market Prime Series Summary Prspectus December 1, 2015 DMMF-SUM