Rick Smith, senior portfolio manager on DWS’ fixed-income platform and a lead portfolio manager on DWS Short Duration PPILX, announced his retirement from the firm effective June 30, 2022. Smith joined the firm in 2004 and has been leading this strategy since 2016. Two of the three remaining portfolio managers have managed this strategy for more than five years. The trio is backed by an experienced research team sufficient for this portfolio mandate, though the group has seen some turnover at the analyst level in recent years. Jeff Morton, comanager on this strategy since 2017, will succeed Smith as the lead manager. Thomas J. Sweeney, named manager on this strategy since 2017, will continue to support Morton with this effort. Lonnie Fox, who joined the firm in 2004, will be added to the management rooster effective July 1, 2022. Given the experienced managers and sufficient supporting team, this change does not affect the current rating on DWS Short Duration; it maintains a People Pillar rating of Average, while its overall Morningstar Analyst Rating remains Neutral.
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