The Boards of Trustees of Deutsche High Income Trust (NYSE:
KHI), Deutsche Municipal Income Trust (NYSE: KTF) and Deutsche
Strategic Municipal Income Trust (NYSE: KSM); 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 2016 Annual Meeting of Shareholders for each Fund
held on September 30, 2016.
For KHI, a quorum was present and the Class II Trustee nominees
(Henry P. Becton, Jr., Paul K. Freeman, William McClayton, and Jean
Gleason Stromberg) received a sufficient number of votes to be
elected as Trustees.
For each of KSM and KTF, a quorum was present and the Class II
Trustee nominees (Henry P. Becton, Jr., William McClayton, and Jean
Gleason Stromberg) and the 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 II Director nominees
(Keith R. Fox, Kenneth C. Froewiss, Richard J. Herring, and Jean
Gleason Stromberg) received a sufficient number of votes to be
elected as Directors.
For DHG, a quorum was present and the Class III Director
nominees (Henry P. Becton, Jr., Paul K. Freeman, William McClayton,
and Jean Gleason Stromberg) 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. Bond
investments are subject to interest-rate, credit, liquidity and
market risks to varying degrees. 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. Emerging markets tend to be more volatile
than the markets of more mature economies, and generally have less
diverse and less mature economic structures and less stable
political systems than those of developed countries. Investing in
foreign securities 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, credit, liquidity
and market risks to varying degrees. 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. 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. Stocks may decline in value. Investing in
foreign securities presents certain risks, such as currency
fluctuations, political and economic changes, and market risks.
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 gains or losses.
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 gains or losses.
Investing in foreign securities 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, credit, liquidity and
market risks to varying degrees. 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 gains or losses. Although the fund seeks income
that is exempt from federal income taxes, a portion of the fund’s
distributions may be subject to federal, state and local taxes,
including the alternative minimum tax.
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, credit, liquidity
and market risks to varying degrees. 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 gains or losses. Although the fund seeks income
that is exempt from federal income taxes, 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, the 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 Management represents the asset management
activities conducted by Deutsche Bank AG or any of its
subsidiaries. Clients will be provided Deutsche Asset 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-048190-1 (9/16)
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160930005812/en/
For additional
information:Deutsche Bank Press Office,
212-250-7171Shareholder Account Information,
800-294-4366Deutsche Closed-End Funds, 800-349-4281
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