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SUPPLEMENT TO THE CURRENTLY EFFECTIVE CLASS S SHARES STATEMENTS OF ADDITIONAL INFORMATION OF EACH OF THE LISTED FUNDS: Cash Account Trust Tax-Exempt Portfolio - DWS Tax Free Money Fund Class S DWS Alternative Asset Allocation Plus Fund DWS Climate Change Fund DWS Floating Rate Plus Fund DWS Health Care Fund DWS Intermediate Tax/AMT Free Fund DWS Lifecycle Long Range Fund DWS Managed Municipal Bond Fund DWS Massachusetts Tax-Free Fund DWS Strategic High Yield Tax-Free Fund Investors Cash Trust Treasury Portfolio - DWS U.S. Treasury Money Fund Class S Effective August 2, 2010, the section of each Funds Statements of Additional Information under the Eligible Class S Investors sub-section of the PURCHASE AND REDEMPTION OF SHARES" section will be replaced in its entirety by the following: Eligibility Requirements . Class S shares of a fund are offered at net asset value without a sales charge to certain eligible investors as described below. The following investors may purchase Class S shares of DWS funds either: (i) directly from DWS Investments Distributors, Inc. ("DIDI"), the fund's principal underwriter; or (ii) through an intermediary relationship with a financial services firm established with respect to the DWS funds as of December 31, 2004. Existing shareholders of Class S shares of any DWS fund and household members residing at the same address may purchase Class S shares of such fund and may open new individual accounts for Class S shares of any DWS fund.
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SUPPLEMENT TO THE CURRENTLY EFFECTIVE CLASS S SHARES STATEMENTS OF ADDITIONAL INFORMATION OF EACH OF THE LISTED FUNDS: Cash Account Trust Tax-Exempt Portfolio - DWS Tax Free Money Fund Class S DWS Alternative Asset Allocation Plus Fund DWS Climate Change Fund DWS Floating Rate Plus Fund DWS Health Care Fund DWS Intermediate Tax/AMT Free Fund DWS Lifecycle Long Range Fund DWS Managed Municipal Bond Fund DWS Massachusetts Tax-Free Fund DWS Strategic High Yield Tax-Free Fund Investors Cash Trust Treasury Portfolio - DWS U.S. Treasury Money Fund Class S Effective August 2, 2010, the section of each Funds Statements of Additional Information under the Eligible Class S Investors sub-section of the PURCHASE AND REDEMPTION OF SHARES" section will be replaced in its entirety by the following: Eligibility Requirements . Class S shares of a fund are offered at net asset value without a sales charge to certain eligible investors as described below. The following investors may purchase Class S shares of DWS funds either: (i) directly from DWS Investments Distributors, Inc. ("DIDI"), the fund's principal underwriter; or (ii) through an intermediary relationship with a financial services firm established with respect to the DWS funds as of December 31, 2004. Existing shareholders of Class S shares of any DWS fund and household members residing at the same address may purchase Class S shares of such fund and may open new individual accounts for Class S shares of any DWS fund.
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PROSPECTUSDated July 19, 2010Robeco-Sage Multi-Strategy TEI Fund, L.L.C.Units of Limited Liability Company InterestsRobeco-Sage Multi-Strategy TEI Fund, L.L.C. (the ) is a recentlyformed Delaware limited liability company that is registered under theInvestment Company Act of 1940, as amended (the 1940 Act), as anon-diversified, closed-end, management investment company. The Fund'sinvestment objective is to seek long-term capital appreciation while attemptingto reduce risk and volatility. In pursuing its investment objective, the Fundinvests substantially all of its assets in Robeco-Sage Multi-Strategy TEI MasterFund, L.L.C. (formerly known as Robeco-Sage Triton Master Fund, L.L.C.), which,in turn, invests its assets primarily in hedge funds organized outside of theU.S. (foreign hedge funds) and other similar investment vehicles that aremanaged by a select group of portfolio managers that invest in a variety offinancial markets and utilize a broad range of alternative investmentstrategies.THE UNITS OF LIMITED LIABILITY COMPANY INTERESTS IN THE FUND () ARENOT DEPOSITS IN, OBLIGATIONS OF, OR GUARANTEED BY ROBECO INVESTMENT MANAGEMENT,INC. OR ROBECO GROEP, N.V. OR ANY OF THEIR AFFILIATES OR BY ANY BANK AND ARE NOTGOVERNMENT GUARANTEED OR INSURED. THE INVESTMENT PROGRAM OF THE FUND ISSPECULATIVE AND INVOLVES SUBSTANTIAL RISKS, INCLUDING THE POSSIBLE LOSS OF THEPRINCIPAL AMOUNT INVESTED. SEE
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