Edgar Filing: DEUTSCHE STRATEGIC INCOME TRUST

nq083114ce-sit.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

_______________________________

Investment Company Act file number: 811-08382

Deutsche Strategic Income Trust

(Exact name of registrant as specified in charter)

345 Park Avenue

New York, NY 10154

(Address of principal executive offices) (Zip code)

Paul Schubert

60 Wall Street

New York, NY 10005

(Name and address of agent for service)

Registrant's telephone number, including area code: (212) 250-3220

Date of fiscal year end: 11/30

Date of reporting period: 8/31/2014

ITEM 1.

SCHEDULE OF INVESTMENTS

Investment Portfolio

as of August 31, 2014 (Unaudited)

Deutsche Strategic Income Trust

(formerly DWS Strategic Income Trust)

				Principal Amount ($) (a)				Value ($)
	Corporate Bonds 84.2%
Consumer Discretionary 12.3%
AMC Entertainment, Inc., 5.875%, 2/15/2022					80,000			82,400
AmeriGas Finance LLC:
	6.75%, 5/20/2020				165,000			175,725
	7.0%, 5/20/2022				135,000			146,475
APX Group, Inc.:
	6.375%, 12/1/2019				75,000			76,125
	8.75%, 12/1/2020				10,000			9,950
	144A, 8.75%, 12/1/2020				55,000			54,725
Arcelik AS, 144A, 5.0%, 4/3/2023					220,000			210,650
Ashtead Capital, Inc., 144A, 6.5%, 7/15/2022					120,000			130,500
Ashton Woods U.S.A. LLC, 144A, 6.875%, 2/15/2021					125,000			123,438
Avis Budget Car Rental LLC, 5.5%, 4/1/2023					80,000			81,800
BC Mountain LLC, 144A, 7.0%, 2/1/2021					70,000			66,150
Block Communications, Inc., 144A, 7.25%, 2/1/2020					155,000			162,750
Boyd Gaming Corp., 9.0%, 7/1/2020					55,000			59,125
Cablevision Systems Corp.:
	5.875%, 9/15/2022				40,000			40,600
	8.0%, 4/15/2020				25,000			28,500
CCO Holdings LLC:
	6.5%, 4/30/2021				635,000			674,687
	8.125%, 4/30/2020				25,000			26,813
Cequel Communications Holdings I LLC:
	144A, 5.125%, 12/15/2021				214,000			212,127
	144A, 6.375%, 9/15/2020				430,000			451,500
Clear Channel Communications, Inc.:
	9.0%, 12/15/2019				195,000			201,825
	11.25%, 3/1/2021				50,000			55,500
Clear Channel Worldwide Holdings, Inc.:
	Series A, 6.5%, 11/15/2022				95,000			101,175
	Series B, 6.5%, 11/15/2022				135,000			144,450
	Series A, 7.625%, 3/15/2020				20,000			21,350
	Series B, 7.625%, 3/15/2020				230,000			246,100
Cogeco Cable, Inc., 144A, 4.875%, 5/1/2020					10,000			10,100
CSC Holdings LLC, 144A, 5.25%, 6/1/2024					185,000			183,150
Cumulus Media Holdings, Inc., 7.75%, 5/1/2019					70,000			72,625
DISH DBS Corp.:
	4.625%, 7/15/2017				400,000			417,000
	5.0%, 3/15/2023				125,000			124,375
	6.75%, 6/1/2021				30,000			33,561
Getty Images, Inc., 144A, 7.0%, 10/15/2020					40,000			33,600
Goodyear Tire & Rubber Co., 6.5%, 3/1/2021					150,000			160,875
Group 1 Automotive, Inc., 144A, 5.0%, 6/1/2022					75,000			74,438
Harron Communications LP, 144A, 9.125%, 4/1/2020					155,000			173,987
Hot Topic, Inc., 144A, 9.25%, 6/15/2021					55,000			60,225
Isle of Capri Casinos, Inc., 5.875%, 3/15/2021					35,000			36,575
Jo-Ann Stores Holdings, Inc., 144A, 9.75%, 10/15/2019 (PIK)					50,000			48,000
Live Nation Entertainment, Inc.:
	144A, 5.375%, 6/15/2022				20,000			20,450
	144A, 7.0%, 9/1/2020				130,000			140,075
MDC Partners, Inc., 144A, 6.75%, 4/1/2020					90,000			94,050
Mediacom Broadband LLC:
	144A, 5.5%, 4/15/2021				20,000			20,250
	6.375%, 4/1/2023				155,000			160,619
Mediacom LLC, 7.25%, 2/15/2022					45,000			48,488
MGM Resorts International:
	6.75%, 10/1/2020				163,000			180,522
	7.625%, 1/15/2017				100,000			111,000
	8.625%, 2/1/2019				205,000			241,387
Numericable Group SA:
	144A, 4.875%, 5/15/2019				195,000			197,437
	144A, 6.0%, 5/15/2022				290,000			298,700
Pinnacle Entertainment, Inc., 6.375%, 8/1/2021					90,000			93,375
Quebecor Media, Inc., 5.75%, 1/15/2023					80,000			82,000
Seminole Hard Rock Entertainment, Inc., 144A, 5.875%, 5/15/2021					50,000			49,250
Serta Simmons Holdings LLC, 144A, 8.125%, 10/1/2020					45,000			48,488
Sirius XM Radio, Inc., 144A, 5.875%, 10/1/2020					80,000			83,600
Springs Industries, Inc., 6.25%, 6/1/2021					115,000			115,575
Starz LLC, 5.0%, 9/15/2019					60,000			61,800
Taylor Morrison Communities, Inc., 144A, 5.25%, 4/15/2021					95,000			95,950
The Men's Wearhouse, Inc., 144A, 7.0%, 7/1/2022					50,000			52,375
UCI International, Inc., 8.625%, 2/15/2019					45,000			42,975
Unitymedia Hessen GmbH & Co., KG, 144A, 5.5%, 1/15/2023					300,000			306,750
Unitymedia KabelBW GmbH, 144A, 9.625%, 12/1/2019		EUR			160,000			223,670
Viking Cruises Ltd., 144A, 8.5%, 10/15/2022					80,000			88,400
Visant Corp., 10.0%, 10/1/2017					55,000			51,013
Weyerhaeuser Real Estate Co., 144A, 4.375%, 6/15/2019					55,000			55,000

								7,976,150
Consumer Staples 3.7%
Chiquita Brands International, Inc., 7.875%, 2/1/2021					34,000			37,188
Cott Beverages, Inc., 144A, 5.375%, 7/1/2022					85,000			84,575
FAGE Dairy Industry SA, 144A, 9.875%, 2/1/2020					90,000			96,075
JBS Investments GmbH, 144A, 7.25%, 4/3/2024					195,000			204,750
JBS U.S.A. LLC:
	144A, 7.25%, 6/1/2021				205,000			218,837
	144A, 8.25%, 2/1/2020				65,000			69,973
Marfrig Overseas Ltd., 144A, 9.5%, 5/4/2020					100,000			107,250
Post Holdings, Inc., 144A, 6.75%, 12/1/2021					45,000			45,844
Reynolds Group Issuer, Inc.:
	5.75%, 10/15/2020				920,000			961,400
	6.875%, 2/15/2021				205,000			219,606
	8.25%, 2/15/2021				100,000			109,125
Roundy's Supermarkets, Inc., 144A, 10.25%, 12/15/2020					80,000			77,400
Smithfield Foods, Inc., 6.625%, 8/15/2022					80,000			88,000
U.S. Foods, Inc., 8.5%, 6/30/2019					80,000			85,280

								2,405,303
Energy 15.4%
Afren PLC, 144A, 10.25%, 4/8/2019					140,000			147,350
American Energy-Permian Basin LLC:
	144A, 6.741% **, 8/1/2019				30,000			29,325
	144A, 7.125%, 11/1/2020				60,000			58,200
	144A, 7.375%, 11/1/2021				60,000			58,500
Antero Resources Finance Corp., 5.375%, 11/1/2021					40,000			41,200
Baytex Energy Corp.:
	144A, 5.125%, 6/1/2021				35,000			35,044
	144A, 5.625%, 6/1/2024				35,000			35,000
Berry Petroleum Co., LLC:
	6.375%, 9/15/2022				75,000			78,188
	6.75%, 11/1/2020				215,000			225,212
BreitBurn Energy Partners LP:
	7.875%, 4/15/2022				260,000			275,600
	8.625%, 10/15/2020				40,000			42,800
Chaparral Energy, Inc., 7.625%, 11/15/2022					70,000			75,163
CONSOL Energy, Inc., 144A, 5.875%, 4/15/2022					40,000			41,800
Crestwood Midstream Partners LP, 6.125%, 3/1/2022					60,000			62,100
Delek & Avner Tamar Bond Ltd., 144A, 3.839%, 12/30/2018					409,000			408,893
Dresser-Rand Group, Inc., 6.5%, 5/1/2021					155,000			165,850
Ecopetrol SA, 5.875%, 5/28/2045					200,000			215,692
Endeavor Energy Resources LP, 144A, 7.0%, 8/15/2021					195,000			207,187
EP Energy LLC:
	6.875%, 5/1/2019				140,000			147,700
	7.75%, 9/1/2022				75,000			84,188
EV Energy Partners LP, 8.0%, 4/15/2019					340,000			351,900
EXCO Resources, Inc., 8.5%, 4/15/2022					25,000			25,405
Halcon Resources Corp.:
	8.875%, 5/15/2021				214,500			225,761
	9.75%, 7/15/2020				145,000			156,238
Holly Energy Partners LP, 6.5%, 3/1/2020					45,000			47,813
Inkia Energy Ltd., 144A, 8.375%, 4/4/2021					200,000			218,000
Kodiak Oil & Gas Corp., 5.5%, 1/15/2021					150,000			158,250
Linn Energy LLC, 6.25%, 11/1/2019					185,000			191,012
Lukoil International Finance BV, 144A, 6.125%, 11/9/2020					200,000			200,032
MEG Energy Corp.:
	144A, 6.5%, 3/15/2021				85,000			89,675
	144A, 7.0%, 3/31/2024				225,000			244,687
Memorial Resource Development Corp., 144A, 5.875%, 7/1/2022					65,000			65,975
Midstates Petroleum Co., Inc.:
	9.25%, 6/1/2021				310,000			335,575
	10.75%, 10/1/2020				180,000			199,125
Murphy Oil U.S.A., Inc., 6.0%, 8/15/2023					110,000			116,600
Newfield Exploration Co., 5.75%, 1/30/2022					80,000			88,400
NGL Energy Partners LP, 144A, 5.125%, 7/15/2019					70,000			70,963
Northern Oil & Gas, Inc., 8.0%, 6/1/2020					230,000			241,500
Nostrum Oil & Gas Finance BV, 144A, 6.375%, 2/14/2019					200,000			207,980
Oasis Petroleum, Inc.:
	6.5%, 11/1/2021				65,000			69,388
	6.875%, 3/15/2022				165,000			180,262
	6.875%, 1/15/2023				50,000			54,500
Offshore Drilling Holding SA, 144A, 8.375%, 9/20/2020					200,000			217,000
Offshore Group Investment Ltd.:
	7.125%, 4/1/2023				140,000			138,950
	7.5%, 11/1/2019				170,000			173,825
Pacific Rubiales Energy Corp., 144A, 7.25%, 12/12/2021					150,000			166,500
Petrobras Global Finance BV, 4.875%, 3/17/2020					200,000			207,732
Petroleos de Venezuela SA:
	144A, 9.0%, 11/17/2021				150,000			116,550
	144A, 9.75%, 5/17/2035				200,000			148,200
PT Pertamina Persero, 144A, 4.3%, 5/20/2023					200,000			196,100
Ras Laffan Liquefied Natural Gas Co., Ltd. II, 144A, 5.298%, 9/30/2020					166,300			182,098
Regency Energy Partners LP:
	5.0%, 10/1/2022				40,000			41,350
	5.875%, 3/1/2022				10,000			10,750
Reliance Holding U.S.A., Inc., 144A, 5.4%, 2/14/2022					250,000			275,807
Sabine Pass Liquefaction LLC:
	5.625%, 2/1/2021				260,000			274,300
	5.625%, 4/15/2023				100,000			104,000
	144A, 5.75%, 5/15/2024				105,000			109,200
Samson Investment Co., 9.75%, 2/15/2020					60,000			61,200
SandRidge Energy, Inc., 7.5%, 3/15/2021					280,000			294,000
SESI LLC, 6.375%, 5/1/2019					90,000			94,725
Seventy Seven Energy, Inc., 144A, 6.5%, 7/15/2022					15,000			15,450
Seventy Seven Operating LLC, 6.625%, 11/15/2019					85,000			90,950
Swift Energy Co., 7.875%, 3/1/2022					115,000			120,175
Talos Production LLC, 144A, 9.75%, 2/15/2018					145,000			150,800
Triangle U.S.A. Petroleum Corp., 144A, 6.75%, 7/15/2022					50,000			51,125
Whiting Petroleum Corp., 5.0%, 3/15/2019					100,000			105,500
Woodbine Holdings LLC, 12.0%, 5/15/2016					375,000			397,500
WPX Energy, Inc., 5.25%, 1/15/2017					295,000			310,487

								10,028,307
Financials 6.6%
Banco do Brasil SA, 144A, 9.0%, 6/29/2049					200,000			201,000
Banco Nacional de Costa Rica, 144A, 4.875%, 11/1/2018					200,000			206,000
Banco Santander Brasil SA, 144A, 8.0%, 3/18/2016		BRL			300,000			129,328
BBVA Bancomer SA, 144A, 6.75%, 9/30/2022					200,000			227,200
CIMPOR Financial Operations BV, 144A, 5.75%, 7/17/2024					250,000			246,250
CIT Group, Inc.:
	3.875%, 2/19/2019				415,000			420,187
	5.0%, 5/15/2017				80,000			84,500
Country Garden Holdings Co., Ltd., 144A, 11.125%, 2/23/2018					200,000			216,500
Credit Agricole SA, 144A, 7.875%, 1/29/2049					125,000			134,844
Credito Real SAB de CV, 144A, 7.5%, 3/13/2019					200,000			216,000
E*TRADE Financial Corp., 6.75%, 6/1/2016					145,000			155,331
Grupo Aval Ltd., 144A, 4.75%, 9/26/2022					200,000			201,000
Hellas Telecommunications Finance, 144A, 8.203% *, 7/15/2015 (PIK)		EUR			109,187			0
Morgan Stanley, Series H, 5.45%, 7/29/2049					60,000			61,050
MPT Operating Partnership LP:
	(REIT), 6.375%, 2/15/2022				110,000			118,250
	(REIT), 6.875%, 5/1/2021				110,000			118,250
Neuberger Berman Group LLC, 144A, 5.875%, 3/15/2022					110,000			117,975
Popular, Inc., 7.0%, 7/1/2019					55,000			55,275
Schahin II Finance Co. SPV Ltd., 144A, 5.875%, 9/25/2022					185,733			181,090
Societe Generale SA, 144A, 7.875%, 12/29/2049					190,000			198,113
The Goldman Sachs Group, Inc., Series L, 5.7%, 12/29/2049					95,000			98,072
Trust F/1401, (REIT), 144A, 5.25%, 12/15/2024					500,000			530,000
UniCredit SpA, 8.0%, 4/3/2049					200,000			209,300
Yapi ve Kredi Bankasi AS, 144A, 5.5%, 12/6/2022					200,000			190,400

								4,315,915
Health Care 7.1%
Aviv Healthcare Properties LP, 6.0%, 10/15/2021					40,000			42,200
Community Health Systems, Inc.:
	5.125%, 8/15/2018				695,000			722,800
	144A, 5.125%, 8/1/2021				20,000			20,500
	144A, 6.875%, 2/1/2022				80,000			85,000
	7.125%, 7/15/2020				750,000			811,875
Crimson Merger Sub, Inc., 144A, 6.625%, 5/15/2022					195,000			186,225
Endo Finance LLC:
	144A, 5.375%, 1/15/2023				80,000			79,800
	144A, 5.75%, 1/15/2022				80,000			81,400
Fresenius Medical Care U.S. Finance, Inc., 144A, 6.5%, 9/15/2018					45,000			50,175
HCA, Inc.:
	6.5%, 2/15/2020				340,000			380,375
	7.5%, 2/15/2022				170,000			198,050
Hologic, Inc., 6.25%, 8/1/2020					80,000			84,400
IMS Health, Inc., 144A, 6.0%, 11/1/2020					100,000			105,125
LifePoint Hospitals, Inc., 144A, 5.5%, 12/1/2021					105,000			109,725
Par Pharmaceutical Companies, Inc., 7.375%, 10/15/2020					125,000			132,500
Physio-Control International, Inc., 144A, 9.875%, 1/15/2019					62,000			67,193
Salix Pharmaceuticals Ltd., 144A, 6.0%, 1/15/2021					60,000			65,100
Valeant Pharmaceuticals International, Inc.:
	144A, 6.375%, 10/15/2020				90,000			94,162
	144A, 6.75%, 8/15/2018				820,000			877,400
	144A, 7.5%, 7/15/2021				385,000			419,650

								4,613,655
Industrials 11.1%
ADT Corp.:
	3.5%, 7/15/2022				55,000			49,088
	4.125%, 4/15/2019				15,000			15,038
	6.25%, 10/15/2021				60,000			63,450
Air Lease Corp., 4.75%, 3/1/2020					110,000			117,150
Artesyn Escrow, Inc., 144A, 9.75%, 10/15/2020					105,000			104,213
Belden, Inc., 144A, 5.5%, 9/1/2022					135,000			140,062
Bombardier, Inc.:
	144A, 4.75%, 4/15/2019				60,000			60,750
	144A, 5.75%, 3/15/2022				90,000			91,575
	144A, 6.0%, 10/15/2022				95,000			96,663
	144A, 7.75%, 3/15/2020				465,000			516,150
Casella Waste Systems, Inc., 7.75%, 2/15/2019					140,000			144,200
CNH Capital LLC, 3.25%, 2/1/2017					335,000			337,512
Covanta Holding Corp., 5.875%, 3/1/2024					85,000			87,975
CTP Transportation Products LLC, 144A, 8.25%, 12/15/2019					105,000			113,137
Darling Ingredients, Inc., 144A, 5.375%, 1/15/2022					85,000			88,188
DigitalGlobe, Inc., 144A, 5.25%, 2/1/2021					55,000			54,450
Empresas ICA SAB de CV, 144A, 8.875%, 5/29/2024					200,000			207,500
Florida East Coast Holdings Corp., 144A, 6.75%, 5/1/2019					180,000			189,900
FTI Consulting, Inc.:
	6.0%, 11/15/2022				80,000			82,700
	6.75%, 10/1/2020				295,000			311,225
Garda World Security Corp., 144A, 7.25%, 11/15/2021					105,000			107,494
Gates Global LLC, 144A, 6.0%, 7/15/2022					70,000			69,300
GenCorp, Inc., 7.125%, 3/15/2021					185,000			199,337
Grupo KUO SAB de CV, 144A, 6.25%, 12/4/2022					200,000			210,100
Huntington Ingalls Industries, Inc., 6.875%, 3/15/2018					105,000			110,906
Kenan Advantage Group, Inc., 144A, 8.375%, 12/15/2018					220,000			231,000
Meritor, Inc.:
	6.25%, 2/15/2024				80,000			82,200
	6.75%, 6/15/2021				115,000			121,612
Navios Maritime Holdings, Inc.:
	144A, 7.375%, 1/15/2022				310,000			320,850
	8.125%, 2/15/2019				75,000			77,906
Nortek, Inc., 8.5%, 4/15/2021					85,000			92,438
Odebrecht Offshore Drilling Finance Ltd., 144A, 6.75%, 10/1/2022					482,100			518,257
Oshkosh Corp., 5.375%, 3/1/2022					60,000			61,350
Ply Gem Industries, Inc., 144A, 6.5%, 2/1/2022					100,000			99,000
Spirit AeroSystems, Inc., 144A, 5.25%, 3/15/2022					105,000			106,575
Titan International, Inc., 6.875%, 10/1/2020					260,000			261,300
TransDigm, Inc.:
	144A, 6.0%, 7/15/2022				95,000			96,663
	144A, 6.5%, 7/15/2024				55,000			56,375
	7.5%, 7/15/2021				305,000			333,212
Transnet SOC Ltd., 144A, 4.0%, 7/26/2022					750,000			714,525
Triumph Group, Inc., 144A, 5.25%, 6/1/2022					45,000			44,888
United Rentals North America, Inc.:
	6.125%, 6/15/2023				10,000			10,675
	7.625%, 4/15/2022				120,000			134,700
Votorantim Cimentos SA, 144A, 7.25%, 4/5/2041					200,000			215,120
Watco Companies LLC, 144A, 6.375%, 4/1/2023					60,000			61,350
XPO Logistics, Inc., 144A, 7.875%, 9/1/2019					30,000			31,200

								7,239,259
Information Technology 5.3%
ACI Worldwide, Inc., 144A, 6.375%, 8/15/2020					35,000			36,575
Activision Blizzard, Inc., 144A, 5.625%, 9/15/2021					335,000			362,219
Alliance Data Systems Corp., 144A, 5.25%, 12/1/2017					95,000			98,563
Audatex North America, Inc., 144A, 6.0%, 6/15/2021					75,000			79,500
BMC Software Finance, Inc., 144A, 8.125%, 7/15/2021					165,000			166,650
Boxer Parent Co., Inc., 144A, 9.0%, 10/15/2019 (PIK)					115,000			110,400
Cardtronics, Inc., 144A, 5.125%, 8/1/2022					50,000			50,625
CDW LLC, 6.0%, 8/15/2022					70,000			73,763
CyrusOne LP, 6.375%, 11/15/2022					40,000			42,300
EarthLink Holdings Corp., 7.375%, 6/1/2020					95,000			99,988
Entegris, Inc., 144A, 6.0%, 4/1/2022					55,000			56,650
Equinix, Inc., 5.375%, 4/1/2023					265,000			270,300
First Data Corp.:
	144A, 6.75%, 11/1/2020				435,000			470,887
	144A, 7.375%, 6/15/2019				95,000			101,412
	144A, 8.75%, 1/15/2022 (PIK)				180,000			197,100
Freescale Semiconductor, Inc., 144A, 6.0%, 1/15/2022					100,000			104,750
Hughes Satellite Systems Corp.:
	6.5%, 6/15/2019				275,000			302,500
	7.625%, 6/15/2021				90,000			101,700
Jabil Circuit, Inc., 5.625%, 12/15/2020					105,000			113,781
NCR Corp.:
	5.875%, 12/15/2021				20,000			20,950
	6.375%, 12/15/2023				50,000			54,000
Sanmina Corp., 144A, 4.375%, 6/1/2019					10,000			10,075
Tencent Holdings Ltd., 144A, 3.375%, 5/2/2019					500,000			510,601

								3,435,289
Materials 8.2%
Berry Plastics Corp.:
	5.5%, 5/15/2022				160,000			159,600
	9.75%, 1/15/2021				80,000			90,100
BOE Intermediate Holding Corp., 144A, 9.0%, 11/1/2017 (PIK)					120,611			126,038
BOE Merger Corp., 144A, 9.5%, 11/1/2017 (PIK)					75,000			78,563
Braskem Finance Ltd., 6.45%, 2/3/2024					200,000			215,300
Cascades, Inc., 144A, 5.5%, 7/15/2022					55,000			54,588
Cemex SAB de CV, 144A, 6.5%, 12/10/2019					200,000			212,000
Clearwater Paper Corp., 144A, 5.375%, 2/1/2025					90,000			90,900
Coveris Holdings SA, 144A, 7.875%, 11/1/2019					200,000			212,500
Evraz Group SA, 144A, 6.75%, 4/27/2018					200,000			187,000
Exopack Holding Corp., 144A, 10.0%, 6/1/2018					90,000			96,863
First Quantum Minerals Ltd.:
	144A, 6.75%, 2/15/2020				195,000			202,312
	144A, 7.0%, 2/15/2021				195,000			204,750
FMG Resources (August 2006) Pty Ltd., 144A, 8.25%, 11/1/2019					110,000			120,450
Fresnillo PLC, 144A, 5.5%, 11/13/2023					200,000			213,500
Greif, Inc., 7.75%, 8/1/2019					230,000			263,350
GTL Trade Finance, Inc., 144A, 5.893%, 4/29/2024					200,000			210,800
Hexion U.S. Finance Corp.:
	6.625%, 4/15/2020				190,000			199,975
	8.875%, 2/1/2018				60,000			62,250
Huntsman International LLC, 8.625%, 3/15/2021					50,000			54,875
IAMGOLD Corp., 144A, 6.75%, 10/1/2020					110,000			100,100
Kaiser Aluminum Corp., 8.25%, 6/1/2020					100,000			111,625
KGHM International Ltd., 144A, 7.75%, 6/15/2019					250,000			268,437
Novelis, Inc., 8.75%, 12/15/2020					490,000			542,062
Packaging Dynamics Corp., 144A, 8.75%, 2/1/2016					72,000			73,710
Plastipak Holdings, Inc., 144A, 6.5%, 10/1/2021					100,000			104,500
Rain CII Carbon LLC, 144A, 8.0%, 12/1/2018					100,000			104,000
Samarco Mineracao SA, 144A, 5.75%, 10/24/2023					200,000			214,100
Signode Industrial Group Lux SA, 144A, 6.375%, 5/1/2022					75,000			74,625
Tronox Finance LLC, 6.375%, 8/15/2020					75,000			77,250
Turkiye Sise ve Cam Fabrikalari AS, 144A, 4.25%, 5/9/2020					200,000			191,250
Volcan Cia Minera SAA, 144A, 5.375%, 2/2/2022					420,000			428,400

								5,345,773
Telecommunication Services 13.1%
B Communications Ltd., 144A, 7.375%, 2/15/2021					105,000			111,562
Bharti Airtel International Netherlands BV, 144A, 5.125%, 3/11/2023					200,000			211,550
CenturyLink, Inc.:
	Series V, 5.625%, 4/1/2020				40,000			42,300
	Series N, 6.0%, 4/1/2017				500,000			541,250
	Series W, 6.75%, 12/1/2023				105,000			116,222
Cincinnati Bell, Inc.:
	8.375%, 10/15/2020				540,000			585,900
	8.75%, 3/15/2018				206,000			215,733
CommScope, Inc., 144A, 5.0%, 6/15/2021					95,000			96,425
CPI International, Inc., 8.75%, 2/15/2018					50,000			52,000
Digicel Group Ltd.:
	144A, 7.125%, 4/1/2022				95,000			98,563
	144A, 8.25%, 9/30/2020				487,000			525,960
Digicel Ltd.:
	144A, 7.0%, 2/15/2020				200,000			210,000
	144A, 8.25%, 9/1/2017				530,000			538,612
Frontier Communications Corp.:
	7.125%, 1/15/2023				515,000			543,325
	8.25%, 4/15/2017				119,000			135,362
	8.5%, 4/15/2020				35,000			40,688
Intelsat Jackson Holdings SA:
	5.5%, 8/1/2023				165,000			164,381
	7.5%, 4/1/2021				465,000			503,362
Intelsat Luxembourg SA:
	7.75%, 6/1/2021				255,000			269,025
	8.125%, 6/1/2023				35,000			37,888
Level 3 Escrow II, Inc., 144A, 5.375%, 8/15/2022					215,000			216,075
Level 3 Financing, Inc.:
	144A, 6.125%, 1/15/2021				60,000			63,300
	7.0%, 6/1/2020				145,000			156,237
MetroPCS Wireless, Inc., 6.625%, 11/15/2020					65,000			68,250
Millicom International Cellular SA, 144A, 4.75%, 5/22/2020					200,000			199,500
SBA Communications Corp., 5.625%, 10/1/2019					75,000			78,563
Sprint Communications, Inc.:
	144A, 7.0%, 3/1/2020				85,000			94,775
	144A, 9.0%, 11/15/2018				305,000			362,569
Sprint Corp., 144A, 7.125%, 6/15/2024					440,000			448,800
T-Mobile U.S.A., Inc., 6.125%, 1/15/2022					40,000			41,450
Turk Telekomunikasyon AS, 144A, 3.75%, 6/19/2019					500,000			499,050
tw telecom holdings, Inc.:
	5.375%, 10/1/2022				130,000			141,375
	6.375%, 9/1/2023				90,000			101,700
UPCB Finance V Ltd., 144A, 7.25%, 11/15/2021					100,000			109,500
UPCB Finance VI Ltd., 144A, 6.875%, 1/15/2022					190,000			205,675
Wind Acquisition Finance SA, 144A, 6.5%, 4/30/2020					80,000			85,600
Windstream Corp.:
	6.375%, 8/1/2023				95,000			95,238
	7.5%, 4/1/2023				150,000			159,750
	7.75%, 10/15/2020				30,000			32,325
	7.75%, 10/1/2021				265,000			288,850

								8,488,690
Utilities 1.4%
Calpine Corp.:
	5.375%, 1/15/2023				85,000			85,850
	5.75%, 1/15/2025				85,000			85,850
Energy Future Holdings Corp., Series Q, 6.5%, 11/15/2024 *					110,000			97,900
Hrvatska Elektroprivreda, 144A, 6.0%, 11/9/2017					200,000			209,750
NRG Energy, Inc.:
	144A, 6.25%, 5/1/2024				285,000			294,262
	7.875%, 5/15/2021				80,000			87,800
RJS Power Holdings LLC, 144A, 5.125%, 7/15/2019					70,000			70,613

								932,025

Total Corporate Bonds (Cost $53,041,075)						54,780,366
	Government & Agency Obligations 8.2%
Other Government Related (b) 1.0%
MMC Norilsk Nickel OJSC, 144A, 5.55%, 10/28/2020					200,000			197,500
Novatek OAO, 144A, 6.604%, 2/3/2021					200,000			200,000
VTB Bank OJSC, 144A, 6.315%, 2/22/2018					265,000			263,344

								660,844
Sovereign Bonds 7.2%
Federative Republic of Brazil, 12.5%, 1/5/2016		BRL			625,000			292,467
Government of Romania, 4.875%, 11/7/2019		EUR			100,000			150,329
Hazine Mustesarligi Varlik Kiralama AS, 144A, 2.803%, 3/26/2018					500,000			495,000
KazAgro National Management Holding JSC, 144A, 4.625%, 5/24/2023					250,000			243,175
Perusahaan Penerbit SBSN, 144A, 6.125%, 3/15/2019					200,000			223,000
Republic of Argentina-Inflation Linked Bond, 5.83%, 12/31/2033		ARS			481			141
Republic of Belarus, REG S, 8.75%, 8/3/2015					100,000			101,250
Republic of Costa Rica, 144A, 4.25%, 1/26/2023					200,000			190,500
Republic of Croatia, 144A, 6.75%, 11/5/2019					200,000			223,000
Republic of El Salvador:
	144A, 5.875%, 1/30/2025				200,000			198,500
	144A, 7.65%, 6/15/2035				200,000			219,000
Republic of Hungary, 4.0%, 3/25/2019					200,000			205,390
Republic of Panama, 9.375%, 1/16/2023					665,000			926,013
Republic of Paraguay, 144A, 6.1%, 8/11/2044					100,000			107,000
Republic of Slovenia:
	144A, 4.75%, 5/10/2018				200,000			215,500
	144A, 5.5%, 10/26/2022				500,000			552,250
Republic of Sri Lanka, 144A, 5.125%, 4/11/2019					200,000			205,500
United Mexican States:
	Series M, 4.75%, 6/14/2018	MXN			1,300,000			100,227
	Series M 20, 8.5%, 5/31/2029	MXN			650,000			60,479

								4,708,721

Total Government & Agency Obligations (Cost $5,302,129)						5,369,565
	Loan Participations and Assignments 43.2%
Senior Loans **
Consumer Discretionary 13.8%
Atlantic Broadband Finance LLC, Term Loan B, 3.25%, 12/2/2019					1,028,266			1,018,842
Avis Budget Car Rental LLC, Term Loan B, 3.0%, 3/15/2019					367,211			367,211
Burger King Corp., Term Loan B, 3.75%, 9/28/2019					186,675			186,850
Cequel Communications LLC, Term Loan B, 3.5%, 2/14/2019					425,645			423,977
CSC Holdings, Inc., Term Loan B, 2.657%, 4/17/2020					1,330,355			1,311,650
Cumulus Media Holdings, Inc., Term Loan, 4.25%, 12/23/2020					187,080			186,904
Goodyear Tire & Rubber Co., Second Lien Term Loan, 4.75%, 4/30/2019					930,000			934,794
Hilton Worldwide Finance LLC, Term Loan B2, 3.5%, 10/26/2020					1,146,316			1,140,945
Petco Animal Supplies, Inc., Term Loan, 4.0%, 11/24/2017					143,793			143,683
Pilot Travel Centers LLC:
	Term Loan B, 3.75%, 3/30/2018				267,441			268,068
	Term Loan B2, 4.25%, 8/7/2019				666,400			669,526
Polymer Group, Inc., First Lien Term Loan B, 5.25%, 12/19/2019					417,900			420,773
Quebecor Media, Inc., Term Loan B1, 3.25%, 8/17/2020					952,907			939,209
Seminole Tribe of Florida, Term Loan, 3.0%, 4/29/2020					967,250			965,436

								8,977,868
Consumer Staples 8.3%
Albertson's LLC, Term Loan B2, 4.75%, 3/21/2019					712,992			716,261
Big Heart Pet Brands, Term Loan, 3.5%, 3/8/2020					1,228,115			1,210,271
Del Monte Foods, Inc., First Lien Term Loan, 4.256%, 2/18/2021					1,093,171			1,083,490
HJ Heinz Co., Term Loan B2, 3.5%, 6/5/2020					683,100			683,571
Pinnacle Foods Finance LLC:
	Term Loan G, 3.25%, 4/29/2020				317,792			314,548
	Term Loan H, 3.25%, 4/29/2020				733,153			725,624
Vogue International, Inc., Term Loan, 5.25%, 2/14/2020					164,588			165,205
Weight Watchers International, Inc., Term Loan B1, 3.16%, 4/2/2016					516,080			507,694

								5,406,664
Energy 2.8%
MEG Energy Corp., Term Loan, 3.75%, 3/31/2020					651,649			651,193
Ruby Western Pipeline Holdings LLC, Term Loan B, 3.5%, 3/27/2020					69,019			68,789
Samson Investment Co., Second Lien Term Loan, 5.0%, 9/25/2018					540,000			535,669
Tallgrass Operations LLC:
	Term Delayed Draw, 3.75%, 11/13/2017				135,000			135,169
	Term Loan B, 4.25%, 11/13/2018				431,946			433,432

								1,824,252
Financials 0.9%
Asurion LLC, Second Lien Term Loan, 8.5%, 3/3/2021					140,000			144,935
Delos Finance SARL, Term Loan B, 3.5%, 3/6/2021					425,000			422,941

								567,876
Health Care 3.8%
Amsurg Corp., First Lien Term Loan B, 3.75%, 7/16/2021					220,000			220,177
Community Health Systems, Inc., Term Loan D, 4.25%, 1/27/2021					208,950			209,781
DaVita HealthCare Partners, Inc., Term Loan B, 3.5%, 6/24/2021					1,136,000			1,135,216
Par Pharmaceutical Companies, Inc., Term Loan B2, 4.0%, 9/30/2019					317,753			315,767
Valeant Pharmaceuticals International, Inc.:
	Term Loan B, 3.75%, 2/13/2019				291,407			291,203
	Term Loan B, 3.75%, 12/11/2019				287,341			287,269

								2,459,413
Industrials 3.0%
Ply Gem Industries, Inc., Term Loan, 4.0%, 2/1/2021					998,725			983,744
Transdigm, Inc., Term Loan C, 3.75%, 2/28/2020					537,679			535,327
WP CPP Holdings LLC, First Lien Term Loan, 4.75%, 12/27/2019					445,597			446,898

								1,965,969
Information Technology 1.1%
First Data Corp., Term Loan, 4.155%, 3/24/2021					490,000			489,848
Freescale Semiconductor, Inc., Term Loan B4, 4.25%, 2/28/2020					139,649			139,375
Spansion LLC, Term Loan, 3.75%, 12/19/2019					79,799			79,562

								708,785
Materials 4.0%
American Rock Salt Holdings LLC, First Lien Term Loan, 4.75%, 5/20/2021					745,000			744,382
Axalta Coating Systems U.S. Holdings, Inc., Term Loan, 3.75%, 2/1/2020					556,251			553,912
Berry Plastics Holding Corp.:
	Term Loan D, 3.5%, 2/8/2020				742,481			730,312
	Term Loan E, 3.75%, 1/6/2021				334,663			330,857
MacDermid, Inc., First Lien Term Loan, 4.0%, 6/7/2020					227,700			227,226

								2,586,689
Telecommunication Services 2.8%
Crown Castle International Corp., Term Loan B, 3.0%, 1/31/2019					1,171,266			1,167,448
DigitalGlobe, Inc., Term Loan B, 3.75%, 1/31/2020					14,813			14,794
Level 3 Financing, Inc., Term Loan B, 4.0%, 1/15/2020					435,000			433,777
Syniverse Holdings, Inc., Term Loan B, 4.0%, 4/23/2019					208,447			206,982

								1,823,001
Utilities 2.7%
Calpine Corp., Term Loan B1, 4.0%, 4/1/2018					646,645			647,780
NRG Energy, Inc., Term Loan B, 2.75%, 7/2/2018					1,132,046			1,126,029

								1,773,809

Total Loan Participations and Assignments (Cost $28,211,966)						28,094,326
	Convertible Bonds 0.4%
Consumer Discretionary 0.1%
Live Nation Entertainment, Inc., 144A, 2.5%, 5/15/2019					55,000			55,275
Materials 0.3%
GEO Specialty Chemicals, Inc., 144A, 7.5%, 3/31/2015					105,307			210,698

Total Convertible Bonds (Cost $161,000)						265,973
	Preferred Security 0.2%
Materials
Hercules, Inc., 6.5%, 6/30/2029 (Cost $118,972)					175,000			159,250
				Shares				Value ($)

	Common Stocks 0.0%
Consumer Discretionary 0.0%
Dawn Holdings, Inc.* (c)			2					4,853
Trump Entertainment Resorts, Inc.*			8					0

								4,853
Industrials 0.0%
Congoleum Corp.*			2,000					0
Materials 0.0%
GEO Specialty Chemicals, Inc.*			1,741					1,337

Total Common Stocks (Cost $25,478)						6,190
	Preferred Stock 0.4%
Financials
Ally Financial, Inc., Series G, 144A, 7.0% (Cost $232,624)			243					245,529
	Warrants 0.0%
Materials
GEO Specialty Chemicals, Inc., Expiration Date 3/31/2015*			9,761					7,424
Hercules Trust II, Expiration Date 3/31/2029*			95					887

Total Warrants (Cost $20,981)						8,311

				Contract Amount				Value ($)

	Call Options Purchased 0.0%
Options on Interest Rate Swap Contracts
Pay Fixed Rate - 3.72% - Receive Floating - LIBOR, Swap Expiration Date 4/22/2026, Option Expiration Date 4/20/20161 (Cost $9,870)			200,000					3,065

				Shares				Value ($)

	Cash Equivalents 9.8%
Central Cash Management Fund, 0.05% (d) (Cost $6,390,237)			6,390,237					6,390,237

				% of Net Assets				Value ($)

Total Investment Portfolio (Cost $93,514,332) †			146.4				95,322,812
Other Assets and Liabilities, Net			(0.3)				(231,367)
Notes Payable			(46.1)				(30,000,000)

Net Assets			100.0				65,091,445
For information on the Fund's policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements.
The following table represents bonds that are in default:

Security	Coupon			Maturity Date	Principal Amount			Cost ($)		Value ($)
Energy Future Holdings Corp.*		6.5	%	11/15/2024		110,000	USD		63,954		97,900
Hellas Telecommunications Finance*		8.203	%	7/15/2015		109,187	EUR		32,169		0
									96,123		97,900

*	Non-income producing security.
**	Floating rate securities’ yields vary with a designated market index or market rate, such as the coupon-equivalent of the U.S. Treasury Bill rate. These securities are shown at their current rate as of August 31, 2014.
†	The cost for federal income tax purposes was $93,793,403. At August 31, 2014, net unrealized appreciation for all securities based on tax cost was $1,529,409. This consisted of aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost of $2,099,731 and aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value of $570,322.
(a)	Principal amount stated in U.S. dollars unless otherwise noted.
(b)	Government-backed debt issued by financial companies or government sponsored enterprises.
(c)	The Fund may purchase securities that are subject to legal or contractual restrictions on resale ("restricted securities"). Restricted securities are securities which have not been registered with the Securities and Exchange Commission under the Securities Act of 1933. The Fund may be unable to sell a restricted security and it may be more difficult to determine a market value for a restricted security. Moreover, if adverse market conditions were to develop during the period between the Fund's decision to sell a restricted security and the point at which the Fund is permitted or able to sell such security, the Fund might obtain a price less favorable than the price that prevailed when it decided to sell. This investment practice, therefore, could have the effect of increasing the level of illiquidity of the Fund. The future value of these securities is uncertain and there may be changes in the estimated value of these securities.

Schedule of

Restricted Securities

Acquisition Date

Cost ($)

Value ($)

Value as %

of Net Assets

Dawn Holdings, Inc. *

August 2013

5,864

4,853

0.01

(d)	Affiliated fund managed by Deutsche Investment Management Americas Inc. The rate shown is the annualized seven-day yield at period end.
144A: Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.
LIBOR: London Interbank Offered Rate
PIK: Denotes that all or a portion of the income is paid in-kind in the form of additional principal.
REG S: Securities sold under Regulation S may not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933.
REIT: Real Estate Investment Trust
At August 31, 2014, open written options contracts were as follows:

Options on Interest Rate Swap Contracts

Swap

Effective/

Expiration

Date

Contract

Amount

Option

Expiration

Date

Premiums

Received ($)

Value ($) (e)

Call Options

Receive Fixed - 4.22%

- Pay Floating - LIBOR

4/22/2016 4/22/2026

200,000

4/20/2016

7,130

(1,575

)

(e)	Unrealized appreciation on written options on interest rate swap contracts at August 31, 2014 was $5,555.
At August 31, 2014, open credit default swap contracts sold were as follows:

Bilateral Swaps

Effective/ Expiration Date	Notional Amount ($) (f)			Fixed Cash Flows Received			Underlying Debt Obligation/ Quality Rating (g)	Value ($)		Upfront Payments Paid/ (Received) ($)			Unrealized Appreciation ($)

6/21/2010 9/20/2015		425,000	2		5.0	%	Ford Motor Co., 6.5%, 8/1/2018, BBB-		26,258		(9,714	)		35,972
12/20/2011 3/20/2017		150,000	3		5.0	%	CIT Group, Inc., 5.5%, 2/15/2019, BB-		17,078		3,225			13,853
9/20/2012 12/20/2017		190,000	4		5.0	%	General Motors Corp., 3.3%, 12/20/2017, BB+		26,608		9,329			17,279
6/20/2013 9/20/2018		260,000	2		5.0	%	Sprint Communications, Inc., 6.0%, 12/1/2016, BB-		30,161		12,520			17,641
6/20/2013 9/20/2018		260,000	5		5.0	%	HCA, Inc., 8.0%, 10/1/2018, B-		38,698		16,846			21,852
6/20/2013 9/20/2018		100,000	3		5.0	%	DISH DBS Corp., 6.75%, 6/1/2021, BB-		14,813		7,241			7,572

Total unrealized appreciation	114,169

(f)

The maximum potential amount of future undiscounted payments that the Fund could be required to make under a credit default swap contract would be the notional amount of the contract. These potential amounts would be partially offset by any recovery values of the referenced debt obligation or net amounts received from the settlement of buy protection credit default swap contracts entered into by the Fund for the same referenced debt obligation, if any.

(g)

The quality ratings represent the higher of Moody's Investors Service, Inc. ("Moody's") or Standard & Poor's Corporation ("S&P") credit ratings and are unaudited.

Counterparties:
1	Nomura International PLC
2	Bank of America
3	Credit Suisse
4	UBS AG
5	Goldman Sachs & Co.
As of August 31, 2014, the Fund had the following open forward foreign currency exchange contracts:

Contracts to Deliver		In Exchange For		Settlement Date	Unrealized Appreciation ($)			Counterparty

USD	46,017	ZAR	500,000	9/18/2014		724		Commonwealth Bank of Australia
EUR	116,000	USD	158,928	9/18/2014		6,495		Commonwealth Bank of Australia
RUB	5,200,000	USD	150,640	9/30/2014		11,161		Societe Generale
EUR	252,500	USD	335,432	10/17/2014		3,563		JPMorgan Chase Securities, Inc.
USD	60,560	MXN	800,000	10/21/2014		411		JPMorgan Chase Securities, Inc.
MXN	800,000	USD	61,347	10/21/2014		376		Commonwealth Bank of Australia
ZAR	560,000	USD	52,304	10/21/2014		248		UBS AG
USD	91,088	MXN	1,200,000	10/31/2014		315		Commonwealth Bank of Australia
Total unrealized appreciation						23,293

Contracts to Deliver		In Exchange For		Settlement Date	Unrealized Depreciation ($)			Counterparty

ZAR	1,000,000	USD	93,211	9/18/2014		(272	)	Commonwealth Bank of Australia
USD	147,380	RUB	5,200,000	9/30/2014		(7,901	)	Societe Generale
USD	109,575	EUR	83,020	10/17/2014		(458	)	Citigroup, Inc.
USD	52,095	ZAR	560,000	10/21/2014		(39	)	Societe Generale
MXN	800,000	USD	60,779	10/21/2014		(192	)	JPMorgan Chase Securities, Inc.
MXN	1,200,000	USD	89,965	10/31/2014		(1,439	)	JPMorgan Chase Securities, Inc.
Total unrealized depreciation						(10,301	)

Currency Abbreviations

ARS	Argentine Peso
BRL	Brazilian Real
EUR	Euro
MXN	Mexican Peso
RUB	Russian Ruble
USD	United States Dollar
ZAR	South African Rand

Fair Value Measurements

Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, and credit risk). Level 3 includes significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.

The following is a summary of the inputs used as of August 31, 2014 in valuing the Fund's investments.

Assets	Level 1		Level 2		Level 3		Total
Fixed Income Investments (h)
Corporate Bonds	$	—	$	54,780,366	$	0	$	54,780,366
Government & Agency Obligations		—		5,369,565		—		5,369,565
Loan Participations and Assignments		—		28,094,326		—		28,094,326
Convertible Bonds		—		55,275		210,698		265,973
Preferred Security		—		159,250		—		159,250
Common Stocks (h)		—		—		6,190		6,190
Preferred Stock		—		245,529		—		245,529
Warrants		—		—		8,311		8,311
Short-Term Investments		6,390,237		—		—		6,390,237
Derivatives (i)
Purchased Options		—		3,065		—		3,065
Credit Default Swap Contracts		—		114,169		—		114,169
Forward Foreign Currency Exchange Contracts		—		23,293		—		23,293

Total	$	6,390,237	$	88,844,838	$	225,199	$	95,460,274

Liabilities	Level 1		Level 2		Level 3		Total
Derivatives (i)
Written Options	$	—	$	(1,575)	$	—	$	(1,575)
Forward Foreign Currency Exchange Contracts		—		(10,301)		—		(10,301)
		—				—
Total		—		(11,876)		—		(11,876)

There have been no transfers between fair value measurement levels during the period ended August 31, 2014.
(h)	See Investment Portfolio for additional detailed categorizations.
(i)	Derivatives include value of options purchased, unrealized appreciation (depreciation) on credit default swap contracts, forward foreign currency exchange contracts, and written options, at value.

Derivatives

The following table presents, by major type of derivative contract, the unrealized appreciation (depreciation) of the Fund's derivative instruments as of August 31, 2014 categorized by the primary underlying risk exposure.

Primary Underlying Risk Disclosure	Swaps		Forward Currency Contracts		Options
Credit Contracts	$	114,169	$	—	$	—
Foreign Exchange Contracts	$	—	$	12,992	$	—
Interest Rate Contracts	$	—	$	—	$	(1,250	)

ITEM 2.	CONTROLS AND PROCEDURES

	(a) The Chief Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.

	(b) There have been no changes in the registrant’s internal control over financial reporting that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal controls over financial reporting.

ITEM 3.	EXHIBITS

	Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant:	Deutsche Strategic Income Trust

By:	/s/Brian E. Binder Brian E. Binder President

Date:	October 23, 2014

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/Brian E. Binder Brian E. Binder President

Date:	October 23, 2014



By:	/s/Paul Schubert Paul Schubert Chief Financial Officer and Treasurer

Date:	October 23, 2014