<PAGE>
Deutsche Asset Management
M u t u a l F u n d
S e m i - A n n u a l R e p o r t
June 30, 2000
Deutsche VIT Funds
Small Cap Index
Formerly a BT Insurance Fund
A Member of the
Deutsche Bank Group [/]
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Table of Contents
Letter to Shareholders................................ 3
Deutsche VIT Small Cap Index
Schedule of Investments............................. 6
Statement of Assets and Liabilities................. 28
Statement of Operations............................. 29
Statements of Changes in Net Assets................. 30
Financial Highlights................................ 31
Notes to Financial Statements....................... 32
--------------
The Fund is not insured by the FDIC and is not a deposit, obligation of or
guaranteed byDeutsche Bank. The Fund is subject to investment risks, including
possible loss of principal amount invested.
--------------
--------------------------------------------------------------------------------
2
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Letter to Shareholders
We are pleased to present you with this semi-annual report for Deutsche VIT
Small Cap Index, providing detailed reviews of the markets, the fund, and our
outlook. Included are complete financial summaries of the fund's operations and
listings of the fund's holdings.
With the acquisition of Bankers Trust by Deutsche Bank, the name of your Fund
has changed from the BT Insurance Funds Trust Small Cap Index Fund to Deutsche
Asset Management VIT Funds ("Deutsche VIT") Small Cap Index. However, the Fund's
investment objectives, policies and strategies remain the same.
MARKET REVIEW
Continuing the trend from 1999, the small cap equity market outperformed its
large cap brethren for the six months ended June 30, 2000, as investors
continued to seek the lower valuations of small cap stocks.
. Still, with a semi-annual return of 3.04% for the Russell 2000 Index, the
small cap equity market, like the broader equity markets, struggled, weighed
down at first by fears of economic overheating and higher interest rates and
then by concerns about profit growth in a slowing economic environment.
. Also like the broader equity markets, the small cap equity market remained
extremely narrow throughout the period.
. On a sector basis, only four sectors--energy, health care, technology, and
capital goods--bettered the Russell 2000 Index's semi-annual return. Energy
was the best performing sector during the six months.
. The dominant theme within the small cap sector was "volatility and reversal,"
due primarily to wide swings in investor sentiment since year end 1999.
During the first quarter, the Russell 2000 Index leapt ahead by over 7%, but
volatility was high.
. Small cap stocks which were down a bit in January, dramatically rallied back
in February, and dropped again in March.
. Top performing sectors for the quarter included energy, technology and
producer durables. Weaker sectors included consumer discretionary, consumer
staples, and autos and transportation.
The Russell 2000 Index posted a -3.78% decline for the second quarter of 2000,
as virtually all major US equity indices were down dramatically due to both the
NASDAQ Composite correction that began in March and carried into April and the
more aggressive interest rate hike by the Federal Reserve Board in May.
. Volatility continued, as the small cap equity market slid in April and May.
Fears of a pick-up in inflation, a shift in investor sentiment regarding "New
Economy" vs. "Old Economy" stocks, and the near-certain prospect of higher
interest rates followed by a gradual slowdown in economic growth caused a
decline in all capitalization segments of the equity market.
. The small cap equity market rallied impressively back in June as evidence of
the effects of interest rate
INVESTMENT REVIEW
<TABLE>
<CAPTION>
CUMULATIVE AVERAGE ANNUAL
TOTAL RETURNS TOTAL RETURNS
Period ended Past Past Since Past Since
June 30, 2000 6 months 1 year inception 1 year inception
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Deutsche VIT Small Cap Index* 2.33% 14.01% 26.41% 14.01% 8.55%
(inception 8/25/97)
--------------------------------------------------------------------------------------------------------------------
Russell 2000 Index** 3.04% 14.32% 28.63% 14.32% 9.22%
--------------------------------------------------------------------------------------------------------------------
</TABLE>
--------------------------------------------------------------------------------
* Past performance is not indicative of future results. Investment return and
principal value will fluctuate so that an investor's shares, when redeemed,
may be worth more or less than their original cost. Performance figures
assume the reinvestment of dividend and capital gain distributions, but do
not reflect the effect of the fees associated with the Contract purchased,
which would lower the returns shown. During the period the Fund waived
certain fees and expenses. Had the fees and expenses not been waived the
Fund's returns would have been lower.
Investments in small companies generally carry greater risk than is
customarily associated with larger companies, such as narrow markets, limited
financial resources and less liquid stock. There is no guarantee that the
Fund will be able to mirror the Russell 2000/(R)/ Index closely enough to
track its performance.
** "Russell 2000/(R)/" is a trademark of the Frank Russell Company and has been
licensed for use by the Fund's Investment Advisor. The Russell 2000/(R)/
Index is an unmanaged index which tracks the common stock price movement of
2,000 of the smallest companies in the Russell 3000/(R)/ Index which
measures the performance of the 3,000 largest U.S. companies based on total
market capitalization. Index returns do not reflect expenses, which have been
deducted from the fund's returns.
--------------------------------------------------------------------------------
3
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Letter to Shareholders
increases led to optimism that the Federal Reserve Board could engineer a
"soft landing" for the U.S. economy. Also, earnings growth estimates remained
strong.
. Top performing sectors for the quarter included health care, energy, and
consumer staples. Utilities, technology, and integrated oils were the weakest
sectors. For the quarter, small cap stocks slightly underperformed large cap
stocks.
MANAGER OUTLOOK
Going forward, we continue to view the most likely outcome for the U.S. economy
to be a "soft landing." That is, we still expect that a combination of higher
interest rates relative to a year ago, moderating equity markets, and higher oil
prices may bring demand more in line with the economy's supply potential by late
2000/early 2001, thus keeping inflation pressures from becoming too entrenched.
Though encouraged by recent hints of cooling demand, we remain unconvinced that
a sufficient, long-lasting economic slowdown will occur without some further
tightening by the Federal Reserve Board after a few months' pause and a longer
period of consolidation in the equity markets. Moreover, while higher oil prices
should help slow demand by cutting into consumer purchasing power, they might
also feed into underlying inflation by boosting wage demands. Even if the
economy slows gracefully, the backdrop of slower profit growth and higher
inflation will likely be less favorable for equities than the fundamentals we've
seen for the last few years. While it is likely we will continue to see high
volatility within the small cap equity sector, we believe profit growth remains
strong and relative valuations in small cap stocks continue to be attractive.
As an index fund, seeking to replicate as closely as possible (before the
deduction of expenses) the broad diversification and returns of the Russell 2000
Index, we neither
<TABLE>
<CAPTION>
PORTFOLIO DIVERSIFICATION BY SECTOR
As of June 30, 2000
(Percentages are based on total investments.)
<S> <C>
Technology......................................... 21%
Financial.......................................... 18
Consumer Discretionary............................. 16
Health Care........................................ 12
Producer Durables.................................. 9
Materials and Processing........................... 8
Utility............................................ 7
Autos and Transportation........................... 3
Other Energy....................................... 3
Consumer Staples................................... 2
Other.............................................. 1
</TABLE>
evaluate short-term fluctuations in the Fund's performance nor manage according
to a given outlook for the equity markets or the economy in general. Still, we
will continue monitoring economic conditions and how they affect the financial
markets, as we seek to closely track the performance of the small cap stock
market.
We appreciate your support of the Deutsche VIT Small Cap Index, and we look
forward to serving your investment needs for many years to come.
/s/ J. A. Creighton
-------------------
James Creighton
Chief Investment Officer - Global Indexing
Deutsche VIT Small Cap Index
June 30, 2000
--------------------------------------------------------------------------------
4
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Performance Comparison
[GRAPH APPEARS BELOW]
DEUTSCHE VIT SMALL CAP INDEX AND RUSSELL 2000 INDEX
AVERAGE GROWTH OF A $10,000 INVESTMENT
(SINCE AUGUST 25, 1997)
<TABLE>
<CAPTION>
VIT - Small Cap Index Russell 2000
<S> <C> <C>
Sept-97 10,000 10,000
Dec-97 10,479 10,505
June-98 10,960 11,022
Dec-98 10,281 10,237
June-99 11,088 11,187
Dec-99 12,354 12,412
June-00 12,641 12,863
</TABLE>
Deutsche VIT Small Cap Index $12,641
Russell 2000 Index $12,863
Average Annual Total Return for the Periods Ended June 30, 2000
One Year 14.01% Since 8/25/97/1/ 8.55%
--------------------------------------------------------------------------------
/1/ The Fund's inception date.
Past performance is not indicative of future results. Investment return and
principal value will fluctuate so that shares, when redeemed, may be worth more
or less than their original cost. Performance figures assume the reinvestment of
dividend and capital gain distributions, but do not reflect the effect of the
fees associated with the Contract purchased, which would lower the returns
shown. During the period, the Fund waived certain fees and expenses. Had these
fees and expenses not been waived the Fund's returns would have been lower.
The Russell 2000/(R)/ Index is an unmanaged index which tracks the common stock
price movement of 2,000 of the smallest companies in the Russell 3000/(R)/ Index
which measures the performance of the 3,000 largest U.S. companies based on
total market capitalization.
--------------------------------------------------------------------------------
5
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Schedule of Investments June 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
Shares Description Value
<C> <S> <C>
COMMON STOCKS - 96.85%
1,900 24/7 Media, Inc./(a)/......................... $ 29,688
2,700 3DFX Interactive, Inc./(a)/................... 21,009
1,100 4Kids Entertainment, Inc./(a)/................ 28,669
1,242 99 Cents Only Stores/(a)/..................... 49,525
1,660 A.O. Smith Corp............................... 34,756
2,150 AAR Corp...................................... 25,800
1,400 Aaron Rents, Inc.............................. 17,588
8,600 Abercrombie & Fitch Co./(a)/.................. 104,813
1,300 ABM Industries, Inc........................... 29,900
467 ABIOMED, Inc./(a)/............................ 14,360
1,100 About.com, Inc./(a)/.......................... 34,650
1,402 Acacia Research Corp./(a)/.................... 33,648
1,100 Accredo Health, Inc./(a)/..................... 38,019
2,100 Accrue Software, Inc./(a)/.................... 74,550
1,100 Ackerley Group, Inc........................... 12,925
700 Aclara Biosciences, Inc./(a)/................. 35,656
4,163 ACNielsen Corp./(a)/.......................... 91,586
2,068 Actel Corp./(a)/.............................. 94,353
1,600 Active Software, Inc./(a)/.................... 124,300
2,401 Actuate Corp./(a)/............................ 128,153
1,100 ACT Manufacturing, Inc./(a)/.................. 51,081
3,251 ACTV, Inc./(a)/............................... 48,562
1,600 Acuson Corp./(a)/............................. 21,600
2,100 ADAC Laboratories............................. 50,400
3,054 Adaptive Broadband Corp./(a)/................. 112,234
2,548 ADC Telecommunication,
Inc./(a)/................................... 213,693
467 ADE Corp./(a)/................................ 8,931
2,600 Adelphia Business Solutions,
Inc./(a)/................................... 60,287
900 Adept Technology, Inc./(a)/................... 42,075
900 Administaff, Inc./(a)/........................ 57,150
2,051 Advance Paradigm, Inc./(a)/................... 42,046
4,322 Advanced Digital Information
Corp./(a)/.................................. 68,882
1,106 Advanced Energy Industries/(a)/............... 65,185
1,402 Advanced Lighting
Technologies, Inc./(a)/..................... 25,937
2,540 Advanced Radio Telecom
Corp./(a)/.................................. 37,148
5,610 Advanced Tissue Science,
Inc./(a)/................................... 45,055
2,952 ADVANTA Corp. - Class A....................... 35,977
600 Advantage Learning Systems,
Inc./(a)/................................... 9,225
2,354 Advent Software, Inc./(a)/.................... 151,833
1,800 ADVO, Inc./(a)/............................... 75,600
1,760 Aeroflex, Inc./(a)/........................... 87,450
2,000 Affiliated Managers Group/(a)/................ 91,000
4,900 AGCO Corp..................................... 60,025
900 AGENCY.COM Inc./(a)/.......................... 16,031
<CAPTION>
Shares Description Value
<C> <S> <C>
5,833 AGL Resources, Inc............................ $ 92,963
1,300 AgriBioTech, Inc./(a)/........................ 32
800 Agribrands International/(a)/................. 33,550
4,136 Airborne Freight Corp......................... 78,325
5,200 Airgas, Inc./(a)/............................. 29,575
900 AirGate PDC, Inc./(a)/........................ 47,306
700 Airnet Communications
Corp./(a)/.................................. 18,287
3,900 AirTran Holdings, Inc./(a)/................... 16,209
5,966 AK Steel Holding Corp......................... 47,728
700 Alabama National BanCorp...................... 13,869
1,200 Alamosa PCS Holdings, Inc./(a)/............... 25,050
500 Alaris Medical, Inc./(a)/..................... 875
2,100 Alaska Air Group, Inc./(a)/................... 56,963
1,652 Albany International Corp. -
Class A/(a)/................................ 23,954
600 Albany Molecular Research,
Inc./(a)/................................... 32,662
2,020 Albemarle Corp................................ 39,895
2,557 Alberto-Culver Co. - Class B.................. 78,148
3,507 Alexander & Baldwin........................... 77,373
300 Alexander's, Inc./(a)/........................ 21,975
1,000 Alexandria Real Estate
Equities, REIT.............................. 34,313
935 Alexion Pharmaceuticals, Inc./(a)/............ 66,852
3,200 ALFA Corp..................................... 56,000
928 Algos Pharmaceuticals Corp./(a)/.............. 14,152
1,800 Allaire Corp./(a)/............................ 66,150
442 Alleghany Corp./(a)/.......................... 74,256
2,400 Allen Telecommunications,
Inc./(a)/................................... 42,450
4,394 Alliance Pharmaceutical
Corp./(a)/.................................. 49,432
2,119 Alliance Semiconductor
Corp./(a)/.................................. 52,048
933 Alliant Techsystems, Inc./(a)/................ 62,919
7,118 Allied Capital Corp........................... 121,006
4,675 Allied Riser Communication
Corp./(a)/.................................. 66,034
1,300 Allscripts, Inc./(a)/......................... 29,900
1,690 ALPHARMA, Inc. - Class A...................... 105,203
2,250 AMCOL International Corp...................... 37,125
2,913 AMCORE Financial, Inc......................... 53,344
600 AMER Co./(a)/................................. 12,000
125 America Online, Inc./(a)/..................... 6,593
2,700 America West Holdings
Corp. - Class B/(a)/........................ 46,237
800 American Axle & Manufacturing
Holdings, Inc./(a)/......................... 11,350
2,244 American Capital Strategies,
Inc......................................... 53,575
1,000 American Classic Voyages Co./(a)/............. 20,625
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
6
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Schedule of Investments June 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
Shares Description Value
<C> <S> <C>
1,500 American Eagle Outfitters,
Inc./(a)/................................... $ 21,000
1,963 American Financial Holdings,
Inc......................................... 31,163
1,700 American Freightways Corp./(a)/............... 24,650
6,140 American Greetings Corp. -
Class A..................................... 116,660
1,300 American Industrial Properties
REIT........................................ 17,631
1,360 American Italian Pasta Co./(a)/............... 28,135
3,303 American Mobile Satellite
Corp., Inc./(a)/............................ 51,816
1,870 American National Can
Group, Inc.................................. 31,556
574 American National Insurance
Co.......................................... 29,274
1,783 American Superconductor
Corp./(a)/.................................. 86,030
800 American States Water Co...................... 23,800
400 American Technical Ceramics
Corp./(a)/.................................. 11,150
6,358 American Telesource
International, Inc./(a)/.................... 40,134
1,483 American Xtal Technology,
Inc./(a)/................................... 64,140
6,400 AmeriCredit Corp./(a)/........................ 108,800
2,900 AmeriPath, Inc./(a)/.......................... 25,737
4,625 AmeriSource Health Corp. -
Class A/(a)/................................ 143,375
1,067 AmerUs Life Holdings, Inc. -
Class A..................................... 22,007
3,283 Ames Department Stores,
Inc./(a)/................................... 25,443
2,700 AMETEK, Inc................................... 47,250
1,200 Amli Residential Properties
Trust....................................... 28,275
4,207 Amylin Pharmaceuticals,
Inc./(a)/................................... 63,894
2,424 ANADIGICS, Inc./(a)/.......................... 82,568
500 Analogic Corp................................. 20,000
2,600 Analysts International Corp................... 24,213
935 Anaren Microwave, Inc./(a)/................... 122,704
1,900 Anchor Bancorp Wisconsin,
Inc......................................... 29,094
860 Anchor Gaming/(a)/............................ 41,226
2,506 Ancor Communications,
Inc./(a)/................................... 89,629
400 Andover Bancorp, Inc.......................... 11,525
1,425 Anesta Corp./(a)/............................. 35,447
2,200 Anixter International, Inc./(a)/.............. 58,300
1,960 AnnTaylor Store Corp./(a)/.................... 64,925
3,305 AnswerThink Consulting
Group, Inc./(a)/............................ 54,946
<CAPTION>
Shares Description Value
<C> <S> <C>
1,402 APAC Customer Services,
Inc./(a)/................................... $ 15,510
1,700 Apex PC Solutions, Inc./(a)/.................. 74,375
935 Aphton Corp./(a)/............................. 24,076
2,028 Applebee's International, Inc................. 61,474
1,900 Applica, Inc.................................. 21,494
1,700 Applied Industrial Technology,
Inc......................................... 27,838
3,786 Applied Power, Inc. -
Class A..................................... 126,831
1,200 Applied Science &
Technology, Inc./(a)/....................... 31,050
1,000 AppliedTheory Corp./(a)/...................... 15,000
3,200 AppNet, Inc./(a)/............................. 115,200
4,380 Apria Healthcare Group,
Inc./(a)/................................... 53,655
2,693 Aptargroup, Inc............................... 72,711
1,900 Aradigm Corp./(a)/............................ 33,250
600 Arch Capital Group Ltd./(a)/.................. 8,963
1,788 Arch Chemicals, Inc........................... 39,112
2,800 Arch Coal, Inc................................ 21,525
4,862 Arch Communication Group,
Inc./(a)/................................... 31,603
1,300 Arctic Cat, Inc............................... 15,438
5,753 Arden Reality, Inc............................ 135,195
900 Area Bancshares Corp.......................... 20,081
654 AremisSoft Corp./(a)/......................... 20,355
1,400 Argonaut Group, Inc........................... 23,975
2,431 Argosy Gaming Co./(a)/........................ 34,946
1,000 Arguss Holdings, Inc.......................... 18,875
2,400 ARIAD Pharmaceuticals,
Inc./(a)/................................... 31,950
1,589 Arkansas Best Corp./(a)/...................... 15,791
841 Armor Holdings, Inc./(a)/..................... 10,933
2,502 Armstrong Holdings, Inc....................... 38,312
1,500 Arnold Industries, Inc........................ 18,094
1,300 Arrow International, Inc...................... 43,550
3,107 Artesyn Technologies, Inc./(a)/............... 86,413
1,000 ArthroCare Corp./(a)/......................... 53,250
2,120 Arvin Industries, Inc......................... 36,835
1,600 Ask Jeeves, Inc./(a)/......................... 28,900
500 Aspect Medical Systems, Inc./(a)/............. 13,500
2,496 Aspen Technologies, Inc./(a)/................. 96,096
3,900 Associates First Capital Corp./(a)/........... 125
1,760 Astec Industries, Inc./(a)/................... 44,660
4,680 Astoria Financial Corp........................ 120,510
2,500 Asyst Technologies, Inc./(a)/................. 85,625
1,327 Atlantic Coast Airlines Holding/(a)/.......... 42,132
1,610 Atlas Air, Inc./(a)/.......................... 57,759
2,006 ATMI, Inc./(a)/............................... 93,279
2,560 Atmos Energy Corp............................. 44,800
2,150 ATS Medical, Inc./(a)/........................ 31,444
1,100 Atwood Oceanics, Inc./(a)/.................... 48,950
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
7
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Schedule of Investments June 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
Shares Description Value
<C> <S> <C>
1,700 Audiovox Corp. - Class A/(a)/................. $ 37,506
1,600 Aurora Biosciences Corp./(a)/................. 109,100
1,800 Aurora Foods, Inc./(a)/....................... 7,200
4,207 AVANT Immunotherapeutics,
Inc./(a)/................................... 44,436
3,900 Avant! Corp./(a)/............................. 73,064
800 Avenue A, Inc./(a)/........................... 7,050
2,600 Avid Technology, Inc./(a)/.................... 31,200
1,100 Avigen, Inc./(a)/............................. 48,262
1,728 Aviron/(a)/................................... 53,352
1,903 Avis Rent A Car/(a)/.......................... 35,681
3,771 Avista Corp................................... 65,757
3,166 AVT Corp./(a)/................................ 23,349
1,361 Aware, Inc./(a)/.............................. 69,581
2,796 AXENT Technologies/(a)/....................... 69,376
4,160 Aztar Corp./(a)/.............................. 64,480
1,589 Azurix Corp./(a)/............................. 12,414
142 Baan Co. NV/(a)/.............................. 373
300 Bacou USA/(a)/................................ 6,000
2,533 Baldor Electric Co............................ 47,177
1,000 Baldwin & Lyons, Inc. -
Class B..................................... 17,062
2,857 Ball Corp..................................... 91,960
1,882 Bally Total Fitness Holding
Corp./(a)/.................................. 47,756
4,700 BancorpSouth, Inc............................. 66,094
300 BancFirst Corp................................ 9,450
1,000 Bandag, Inc................................... 24,250
850 Bank of Granite Corp.......................... 19,444
3,374 Bank United Corp. - Class A................... 118,723
3,000 BankAtlantic Bancorp, Inc. -
Class B..................................... 17,625
2,200 Banta Corp.................................... 41,662
1,400 Barnes Group, Inc............................. 22,838
3,837 Barnes & Noble, Inc./(a)/..................... 85,373
1,950 barnesandnoble.com, Inc./(a)/................. 12,736
1,650 Barr Laboratories, Inc./(a)/.................. 73,941
950 Barra, Inc./(a)/.............................. 47,084
2,412 Barrett Resources Corp./(a)/.................. 73,415
1,706 Basin Exploration, Inc./(a)/.................. 30,495
15,295 Battle Mountain Gold Co./(a)/................. 33,458
1,653 Bay View Capital Corp......................... 16,220
2,500 Be Free, Inc./(a)/............................ 22,500
761 bebe stores, Inc./(a)/........................ 6,373
1,800 Bedford Property Investors.................... 33,412
935 Bel Fuse, Inc./(a)/........................... 25,011
600 Belco Oil & Gas/(a)/.......................... 5,100
2,033 Belden, Inc................................... 52,096
1,200 Bell & Howell Co./(a)/........................ 29,100
1,333 Benchmark Stock Electroncs,
Inc./(a)/................................... 48,738
10,245 Bergen Brunswig Corp. -
Class A..................................... 56,347
<CAPTION>
Shares Description Value
<C> <S> <C>
1,161 Beringer Wine Estates
Holdings/(a)/............................... $ 40,998
2,128 Berkley (W.R.) Corp........................... 39,900
1,400 Berry Petroleum Co. -
Class A..................................... 23,800
11,369 Bethlehem Steel Corp./(a)/.................... 40,502
6,477 Beverly Enterprises, Inc./(a)/................ 18,217
2,600 Billing Concepts Corp./(a)/................... 11,537
2,276 Bindley Western Industries,
Inc......................................... 60,172
3,822 BindView Development
Corp./(a)/.................................. 45,864
748 BioCryst Pharmaceuticals,
Inc./(a)/................................... 21,458
1,028 BioMarin Pharmaceutical,
Inc./(a)/................................... 17,476
1,200 Biomatrix, Inc./(a)/.......................... 27,150
1,496 Biopure Corp./(a)/............................ 28,143
800 Bio-Rad Laboratories, Inc. -
Class A/(a)/................................ 20,000
1,215 Biosite Diagnostics Inc./(a)/................. 58,548
4,541 Bio-Technology General
Corp./(a)/.................................. 59,884
1,774 Black Box Corp./(a)/.......................... 140,451
1,300 Black Hills Corp.............................. 29,331
1,776 BlackRock, Inc./(a)/.......................... 51,504
600 Blaze Software, Inc./(a)/..................... 8,175
1,145 Block Drug Co., Inc. -
Class A..................................... 48,448
1,529 Blount International, Inc. -
Class A/(a)/................................ 11,754
1,400 Bluestone Software, Inc./(a)/................. 35,962
3,276 Blyth, Inc.................................... 96,642
3,542 Bob Evans Farms, Inc.......................... 52,909
2,100 Boca Resorts, Inc. - Class A/(a)/............. 20,738
824 BOK Financial Corp./(a)/...................... 14,471
6,603 Borders Group, Inc./(a)/...................... 102,759
2,135 BorgWarner, Inc............................... 74,992
537 Bottomline Technologies,
Inc./(a)/................................... 18,359
3,200 Bowne & Co., Inc.............................. 32,200
1,800 Boyd Gaming Corp./(a)/........................ 10,013
1,300 Boykin Lodging Co............................. 17,550
2,700 Bradley Real Estate, Inc...................... 57,544
1,800 Brady (W.H.) Co............................... 58,500
2,800 Brandywine Realty Trust....................... 53,550
1,000 Braun Consulting, Inc./(a)/................... 21,125
4,500 BRE Properties, Inc. - Class A................ 129,938
1,100 Breakaway Solutions, Inc./(a)/................ 29,700
1,130 Brenton Banks, Inc............................ 15,679
2,222 Briggs & Stratton Corp........................ 76,104
1,000 Bright Horizons Family
Solutions, Inc./(a)/........................ 21,375
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
8
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Schedule of Investments June 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
Shares Description Value
<C> <S> <C>
4,774 Brightpoint, Inc./(a)/........................ $ 41,325
1,383 Brio Technologies, Inc./(a)/.................. 29,302
2,600 Broadbase Software, Inc./(a)/................. 79,625
900 Brookline Bancorp, Inc........................ 10,294
1,583 Brooks Automation, Inc./(a)/.................. 101,213
1,383 Brooktrout, Inc./(a)/......................... 30,167
950 Brown & Brown, Inc............................ 49,400
2,700 Brown (Tom), Inc./(a)/........................ 62,269
1,300 Brown Shoe Co., Inc........................... 16,900
1,200 Brush Wellman, Inc............................ 18,750
550 BSB Bancorp. Inc.............................. 11,034
1,300 BSQUARE Corp./(a)/............................ 29,169
1,241 BT Financial Corp............................. 21,407
2,100 Buckeye Technologies, Inc./(a)/............... 46,069
500 Buckle, Inc./(a)/............................. 5,875
4,709 Buffets, Inc./(a)/............................ 59,745
2,400 Burham Pacific Properties, Inc................ 16,500
1,300 Burlington Coat Factory
Warehouse................................... 14,056
1,300 Burns International Services
Corp./(a)/.................................. 16,250
500 Bush Boake Allen, Inc./(a)/................... 21,875
700 Bush Industries, Inc. -
Class A..................................... 11,200
2,420 C & D Technologies, Inc....................... 136,730
2,340 Cable Design Technologies/(a)/................ 78,390
3,400 Cabot Industrial Trust........................ 66,938
500 Cabot Microelectronics
Corp./(a)/.................................. 22,875
2,600 Cabot Oil & Gas Corp. -
Class A..................................... 55,087
1,400 CACI International, Inc. -
Class A/(a)/................................ 27,300
2,600 Cadiz Land Co., Inc./(a)/..................... 20,800
606 CAIS Internet, Inc./(a)/...................... 8,522
1,173 Cal Dive International, Inc./(a)/............. 63,562
700 Caldera Systems, Inc./(a)/.................... 9,144
2,800 Calgon Carbon Corp............................ 21,700
1,800 Calico Commerce, Inc./(a)/.................... 29,250
1,200 California Amplifier, Inc./(a)/............... 54,900
900 California Water Services Co.................. 21,825
300 Caliper Technologies Corp./(a)/............... 13,800
6,700 Callaway Golf Co.............................. 109,294
2,003 Cambrex Corp.................................. 90,135
4,306 Cambridge Technology
Partners, Inc./(a)/......................... 37,543
3,630 Camdem Property Trust......................... 106,631
700 Caminus Corp./(a)/............................ 17,150
1,182 Canandaigua Brands, Inc. -
Class A/(a)/................................ 59,617
3,000 Capital Automotive, REIT...................... 42,375
400 Capital City Bank Group, Inc.................. 7,800
5,100 Capitol Federal Financial..................... 56,419
<CAPTION>
Shares Description Value
<C> <S> <C>
3,200 CapRock Communications
Corp./(a)/.................................. $ 62,400
1,903 Capstead Mortgage Corp........................ 15,938
2,161 Caraustar Industries, Inc..................... 32,685
700 Carbo Ceramics, Inc........................... 24,588
3,179 CardioDynamics International
Corp./(a)/.................................. 19,968
996 Career Education Corp./(a)/................... 48,306
16,898 Caremark Rx, Inc./(a)/........................ 115,118
2,928 Carlisle Companies, Inc....................... 131,760
1,490 Carpenter Technology Corp..................... 31,476
800 Carrier Access Corp./(a)/..................... 42,300
1,600 Carter-Wallace, Inc........................... 32,200
800 Cascade Natural Gas Corp...................... 13,350
1,200 Casella Waste Systems, Inc. -
Class A/(a)/................................ 12,900
4,786 Casey's General Stores, Inc................... 49,655
2,100 Cash America International Inc................ 15,488
1,310 Castle & Cooke, Inc. /(a)/.................... 25,299
3,619 Catalytica, Inc./(a)/......................... 39,809
8,149 Catellus Development
Corp./(a)/.................................. 122,235
700 Cathay Bancorp, Inc........................... 32,462
1,700 CB Richard Ellis Services,
Inc./(a)/................................... 15,513
1,900 CBL & Associates Properties,
Inc......................................... 47,381
5,051 CBRL Group, Inc............................... 74,187
1,800 CCC Information Services
Group/(a)/.................................. 19,125
2,666 C-COR.net Corp./(a)/.......................... 71,982
3,228 C-Cube Microsytems, Inc./(a)/................. 63,350
900 CDI Corp./(a)/................................ 18,338
2,203 CEC Entertainment, Inc./(a)/.................. 56,452
900 Celeritek, Inc./(a)/.......................... 36,731
2,700 Cell Genesys, Inc./(a)/....................... 75,600
1,729 Cell Pathways, Inc./(a)/...................... 40,631
2,150 Cell Therapeutics, Inc./(a)/.................. 65,844
2,600 CellNet Data Systems, Inc./(a)/............... 130
1,700 CenterPoint Properties Corp................... 69,275
600 Centex Construction
Products, Inc............................... 13,612
5,579 Centex Corp................................... 131,107
400 Centillium Communications,
Inc./(a)/................................... 27,600
1,632 Central Garden & Pet Co./(a)/................. 14,637
950 Central Parking Corp.......................... 22,503
4,728 Century Business Services,
Inc./(a)/................................... 9,161
800 Century South Banks, Inc...................... 15,500
2,183 Cerner Corp./(a)/............................. 59,487
561 Cerus Corp./(a)/.............................. 28,716
1,000 CFW Communications Co......................... 37,500
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
9
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Schedule of Investments June 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
Shares Description Value
<C> <S> <C>
1,100 CH Energy Group, Inc.......................... $ 37,331
3,600 Champion Enterprises, Inc./(a)/............... 17,550
700 Championship Auto Racing
Teams, Inc./(a)/............................ 17,850
10,100 Charming Shoppes, Inc./(a)/................... 51,447
1,700 Charter Municipal Mortgage
Acceptance Co............................... 20,931
1,800 Chateau Communities, Inc...................... 50,850
1,250 Cheap Tickets, Inc./(a)/...................... 15,000
2,500 Checkpoint Systems, Inc./(a)/................. 18,750
1,400 Chelsea GCA Realty, Inc....................... 48,388
1,100 Chemed Corp................................... 31,006
1,400 ChemFirst, Inc................................ 33,775
1,157 Chemical Financial Corp....................... 30,082
1,333 Chesapeake Corp............................... 39,490
7,120 Chesapeake Energy Corp./(a)/.................. 55,180
1,544 Chico's FAS, Inc./(a)/........................ 30,880
4,700 Chiquita Brands
International, Inc.......................... 18,506
1,261 ChiRex, Inc./(a)/............................. 25,220
2,315 Chittenden Corp............................... 56,573
4,047 Choice Hotels Corp., Inc. /(a)/............... 40,217
500 Choice One Communications,
Inc./(a)/................................... 20,406
800 Chordiant Software, Inc./(a)/................. 13,300
2,812 Church & Dwight Co., Inc...................... 50,616
619 Churchill Downs, Inc.......................... 14,469
3,747 CIBER, Inc./(a)/.............................. 49,648
1,728 Circle International
Group, Inc.................................. 43,416
5,486 Cirrus Logic, Inc./(a)/....................... 87,776
3,506 Citadel Communications
Corp./(a)/.................................. 122,491
3,354 Citizens Banking Corp......................... 54,450
374 CityBank...................................... 9,771
2,970 Claire's Stores, Inc.......................... 57,172
2,050 Clarcor, Inc.................................. 40,744
1,800 Clarent Corp./(a)/............................ 128,700
1,300 Clarus Corp./(a)/............................. 50,537
7,085 Clayton Homes, Inc............................ 56,680
600 Clayton Williams Energy,
Inc./(a)/................................... 19,163
1,930 Cleco Corp.................................... 64,655
1,600 Cleveland-Cliffs, Inc......................... 41,300
1,100 click2 learn.com, Inc./(a)/................... 19,387
600 Closure Medical Corp./(a)/.................... 13,800
3,213 CMP Group, Inc................................ 94,181
1,200 CNA Surety Corp............................... 14,325
3,663 CNF Transportation, Inc....................... 83,333
1,300 Coachmen Industries, Inc...................... 14,950
2,300 Cobalt Networks, Inc./(a)/.................... 133,112
300 Coca Cola Bottling
Consolidated................................ 13,650
<CAPTION>
Shares Description Value
<C> <S> <C>
600 Cognizant Technology
Solutions Corp./(a)/........................ $ 19,912
2,074 Coherent, Inc./(a)/........................... 173,957
1,683 Cohu, Inc..................................... 45,388
1,928 Coinstar, Inc./(a)/........................... 19,401
400 Coldwater Creek, Inc./(a)/.................... 12,050
467 Collateral Therapeutics, Inc./(a)/............ 11,843
5,182 Collins & Aikman Corp......................... 26,882
1,900 Colonial Properties Trust..................... 52,012
1,800 Columbia Laboratories, Inc./(a)/.............. 10,350
600 Columbia Sportswear Co./(a)/.................. 16,125
1,500 Columbus McKinnon Corp........................ 20,813
2,119 Com21, Inc./(a)/.............................. 52,975
2,671 Comfort Systems USA, Inc./(a)/................ 10,684
3,052 Commerce Bancorp, Inc......................... 140,392
2,000 Commerce Group Inc............................ 59,000
5,453 Commercial Federal Corp....................... 84,862
1,000 Commercial Metals Co.......................... 27,500
2,400 Commercial Net Lease Realty................... 25,200
916 Commonwealth Telephone
Enterprises, Inc./(a)/...................... 43,109
5,341 Community First
Bankshares, Inc............................. 87,125
1,983 Complete Business
Solutions, Inc./(a)/........................ 34,826
793 CompuCredit Corp./(a)/........................ 23,790
2,696 Computer Horizons Corp./(a)/.................. 36,228
2,800 Computer Network
Technology Corp./(a)/....................... 48,650
100 CompX International, Inc...................... 2,031
3,924 COMSAT Corp................................... 92,214
2,524 Comstock Resource, Inc./(a)/.................. 20,192
2,000 Concord Camera Corp./(a)/..................... 41,750
1,600 Concord Communications, Inc./(a)/............. 63,800
4,304 Concurrent Computer Corp./(a)/................ 56,490
8,623 Conectiv, Inc................................. 134,195
1,641 CONMED Corp./(a)/............................. 42,461
2,711 Connetics Corp,/(a)/.......................... 39,818
1,800 CONSOL Energy, Inc............................ 27,225
1,775 Consolidated Products, Inc./(a)/.............. 15,975
1,100 Cooper Companies, Inc......................... 40,012
4,492 Cooper Tire & Rubber Co....................... 49,973
3,100 Copart, Inc./(a)/............................. 49,600
1,125 CoreComm, Inc./(a)/........................... 21,937
300 Corinthian Colleges, Inc./(a)/................ 7,031
1,800 Corixa Corp./(a)/............................. 77,287
3,225 Corn Products International,
Inc......................................... 85,463
3,300 Cornerstone Realty Income
Trust, Inc.................................. 33,000
1,683 Corsair Communications,
Inc./(a)/................................... 48,386
900 Corus Bankshares, Inc......................... 23,794
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
10
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Schedule of Investments June 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
Shares Description Value
<C> <S> <C>
2,101 Cost Plus, Inc./(a)/.......................... $ 60,272
800 CoStar Group, Inc./(a)/....................... 20,050
1,800 Coulter Pharmaceutical, Inc./(a)/............. 36,900
2,800 Cousins Properties, Inc....................... 107,800
4,800 Covance, Inc./(a)/............................ 42,300
5,000 Coventry Health Care, Inc./(a)/............... 66,641
600 CPB, Inc...................................... 15,000
588 CPI Corp...................................... 12,421
3,100 Crawford & Co. - Class B...................... 34,100
2,431 Creative BioMolecules, Inc./(a)/.............. 34,034
1,800 Credit Acceptance Corp./(a)/.................. 10,013
1,306 Creditrust Corp./(a)/......................... 1,714
968 Crestline Capital Corp./(a)/.................. 16,517
9,433 Crompton Corp................................. 115,554
4,058 Cross Timbers Oil Co.......................... 89,783
664 Crossman Communities, Inc./(a)/............... 10,956
600 Crossroads Systems, Inc./(a)/................. 15,150
467 CryoLife, Inc./(a)/........................... 10,741
1,560 CSK Auto Corp./(a)/........................... 11,797
600 CSS Industries, Inc./(a)/..................... 12,262
1,500 CT Communications, Inc........................ 42,656
1,373 CTC Communications Group,
Inc./(a)/................................... 49,428
1,200 CTG Resources, Inc............................ 44,025
2,290 CTS Corp...................................... 103,050
2,057 Cubist Pharmaceuticals,
Inc./(a)/................................... 101,307
5,111 Cullen/Frost Bankers, Inc..................... 134,483
3,170 Cummins Engine Co., Inc....................... 86,382
3,828 Cumulus Media, Inc. -
Class A/(a)/................................ 34,931
1,400 Cuno, Inc./(a)/............................... 32,375
2,100 CuraGen Corp./(a)/............................ 79,931
400 Curtiss-Wright Corp........................... 14,875
1,122 CV Therapeutics, Inc./(a)/.................... 77,769
1,262 CVB Financial Corp............................ 19,955
4,400 Cyber-Care, Inc./(a)/......................... 43,794
1,870 CyberSource Corp./(a)/........................ 25,829
1,851 Cyberonics, Inc./(a)/......................... 22,212
748 CyberOptics Corp./(a)/........................ 34,595
1,623 Cybex Computer Products
Corp./(a)/.................................. 69,789
2,500 Cygnus, Inc./(a)/............................. 35,625
1,402 Cylink Corp./(a)/............................. 23,484
2,474 Cymer, Inc./(a)/.............................. 118,133
3,500 Cytec Industries, Inc./(a)/................... 86,406
6,800 CYTOGEN Corp./(a)/............................ 68,850
4,151 D.R. Horton, Inc.............................. 56,298
1,100 Dain Rausher Corp............................. 72,600
4,725 Dal-Tile International, Inc./(a)/............. 38,981
5,800 Data Broadcasting Corp./(a)/.................. 36,612
1,400 Data Return Corp./(a)/........................ 40,600
1,006 Datascope Corp./(a)/.......................... 36,216
<CAPTION>
Shares Description Value
<C> <S> <C>
1,974 Datastream Systems, Inc./(a)/................. $ 24,675
1,300 David's Bridal, Inc./(a)/..................... 15,031
1,309 Davox Corp./(a)/.............................. 16,935
1,215 DDi Corp./(a)/................................ 34,627
3,396 Dean Foods Co................................. 107,611
4,000 Del Monte Foods Co./(a)/...................... 27,250
2,277 Del Webb Corp./(a)/........................... 34,867
1,700 Delco Remy International,
Inc./(a)/................................... 14,131
1,536 Delphi Financial Group, Inc. -
Class A/(a)/................................ 52,128
3,168 Delta and Pine Land Co........................ 79,398
1,200 Deltathree.com, Inc./(a)/..................... 17,475
1,100 Deltic Timber Corp............................ 23,512
2,524 Dendrite International, Inc./(a)/............. 84,081
700 Detroit Diesel Corp........................... 10,325
4,846 Developers Diversified Realty
Corp........................................ 72,387
1,968 Dexter Corp................................... 94,464
900 Diagnostic Products Corp...................... 28,800
1,660 Diamond Technology Partners,
Inc./(a)/................................... 146,080
1,100 Digene Corp./(a)/............................. 44,412
841 Digimarc Corp./(a)/........................... 32,378
2,057 Digital Courier Technologies,
Inc./(a)/................................... 13,113
1,000 Digital Impact, Inc./(a)/..................... 14,125
1,122 Digital Insight Corp./(a)/.................... 38,148
5,600 Digital Island, Inc./(a)/..................... 272,300
2,200 Digital River, Inc./(a)/...................... 16,912
7,827 Dillard's, Inc. - Class A..................... 95,881
1,406 Dime Community Bancorp,
Inc......................................... 22,848
1,960 Dionex Corp./(a)/............................. 52,430
1,000 Direct Focus, Inc./(a)/....................... 49,000
500 Diversa Corp./(a)/............................ 16,562
1,300 Documentum, Inc./(a)/......................... 116,188
3,283 Dole Food Co.................................. 53,759
2,000 Dollar Thrifty Automotive
Group, Inc./(a)/............................ 36,875
3,400 Donaldson Co., Inc............................ 67,150
2,700 Doral Financial Corp.......................... 30,881
1,000 Dover Downs Entertainment..................... 14,000
1,610 Downey Financial Corp......................... 46,690
1,200 Dress Barn, Inc./(a)/......................... 26,550
1,000 Dreyer's Grand Ice Cream, Inc................. 21,000
700 Dril-Quip, Inc./(a)/.......................... 32,725
2,300 drugstore.com, Inc./(a)/...................... 17,322
1,028 DSET Corp./(a)/............................... 31,225
2,805 DSL.net, Inc./(a)/............................ 28,926
2,300 DSP Communications, Inc./(a)/................. 128,800
1,482 Duane Reade, Inc./(a)/........................ 38,162
561 DuPont Photomasks, Inc./(a)/.................. 38,429
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
11
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Schedule of Investments June 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
Shares Description Value
<C> <S> <C>
1,682 Dura Automotive Systems,
Inc./(a)/................................... $ 18,187
4,500 Dura Pharmaceuticals, Inc./(a)/............... 64,688
1,400 DUSA Pharmaceuticals, Inc./(a)/............... 41,300
800 DVI, Inc./(a)/................................ 12,800
2,618 e-MedSoft.com/(a)/............................ 20,944
5,686 e. spire Communications,
Inc./(a)/................................... 38,380
1,160 E.W. Blanch Holdings, Inc..................... 23,563
3,360 Earthgrains Co................................ 65,310
1,000 EarthShell Corp./(a)/......................... 3,031
3,035 East West Bancorp, Inc........................ 43,628
1,200 EastGroup Properties, Inc..................... 25,275
2,600 Eaton Vance Corp.............................. 120,250
700 eBenX, Inc./(a)/.............................. 14,831
3,906 Eclipsys Corp./(a)/........................... 29,295
1,600 Edison Schools, Inc./(a)/..................... 37,100
1,574 Education Management Corp./(a)/............... 28,430
4,559 Edwards LifeSciences Corp./(a)/............... 84,341
3,833 EEX Corp./(a)/................................ 22,279
2,100 eGain Communications Corp./(a)/............... 25,462
1,601 EGL, Inc./(a)/................................ 49,231
3,553 eGlobe, Inc./(a)/............................. 10,659
5,600 El Paso Electric Co./(a)/..................... 62,650
3,176 Elan Corp..................................... 1,588
1,700 Elantec Semiconductor, Inc./(a)/.............. 118,362
2,060 Elcor Corp.................................... 47,380
1,200 Electric Lightwave, Inc. -
Class A/(a)/................................ 22,425
1,100 Electro Rent Corp./(a)/....................... 13,475
2,256 Electro Scientific Industries,
Inc./(a)/................................... 99,334
2,219 Electroglas, Inc./(a)/........................ 47,709
1,000 Electronics Boutique Holdings
Corp./(a)/.................................. 16,375
3,861 eLoyality Corp./(a)/.......................... 49,228
600 Embarcadero Technologies,
Inc./(a)/................................... 17,625
1,200 EMCOR Group, Inc./(a)/........................ 27,825
1,100 EMCORE Corp./(a)/............................. 132,000
1,122 Emisphere Technologies,
Inc./(a)/................................... 47,808
1,000 Empire District Electric Co................... 22,062
4,058 Encompass Services Corp./(a)/................. 23,334
1,215 Endocare, Inc./(a)/........................... 24,604
3,000 Energen Corp.................................. 65,437
1,309 Energy Conversion Devices,
Inc./(a)/................................... 33,216
2,500 Enhance Financial Services
Group, Inc.................................. 35,937
1,075 Entertainment Properties Trust................ 14,848
1,400 EntreMed, Inc./(a)/........................... 41,913
1,885 Enzo Biochem, Inc./(a)/....................... 130,065
<CAPTION>
Shares Description Value
<C> <S> <C>
3,596 Enzon, Inc./(a)/.............................. $ 152,830
561 EpicEdge, Inc./(a)/........................... 12,903
1,864 ePresence, Inc./(a)/.......................... 13,514
5,400 Equity Inns, Inc.............................. 33,075
467 ESCO Electronics Corp./(a)/................... 7,939
1,000 eSPEED, Inc. - Class A/(a)/................... 43,437
2,019 ESS Technology, Inc./(a)/..................... 29,275
1,500 Essex Property Trust, Inc..................... 63,000
1,500 Esterline Technologies Corp./(a)/............. 22,313
3,382 Ethan Allen Interiors, Inc.................... 81,168
3,600 Ethyl Corp.................................... 9,000
1,000 E'Town Corp................................... 66,438
5,900 eToys, Inc./(a)/.............................. 37,428
1,486 Evergreen Resources, Inc./(a)/................ 44,023
1,541 Exar Corp./(a)/............................... 134,356
1,200 Excalibur Technologies Corp./(a)/............. 47,925
935 Excel Technology, Inc./(a)/................... 47,042
2,800 eXcelon Corp./(a)/............................ 22,225
2,222 Exchange Applications, Inc./(a)/.............. 59,161
600 Exelixis, Inc./(a)/........................... 20,025
2,155 Exide Corp.................................... 17,240
5,447 Extended Stay America, Inc./(a)/.............. 50,385
700 Extended Systems, Inc./(a)/................... 67,200
500 Extensity, Inc./(a)/.......................... 17,125
1,600 F5 Networks, Inc./(a)/........................ 87,300
800 F&M Bancorp................................... 15,800
2,021 F&M National Corp............................. 42,441
1,612 F.N.B. Corp., Pennsylvania.................... 33,247
1,383 F.Y.I., Inc./(a)/............................. 46,590
1,183 Factory 2-U Stores, Inc./(a)/................. 44,732
1,600 FactSet Research Systems,
Inc......................................... 45,200
800 Fair Isaac & Co., Inc......................... 35,200
3,900 Fairfield Communities, Inc./(a)/.............. 30,713
500 Farmers Capital Bank Corp..................... 15,187
900 FBL Financial Group, Inc. -
Class A..................................... 14,175
2,300 Fedders Corp.................................. 13,369
5,400 Federal-Mogul Corp............................ 51,637
3,598 Federal Realty Investment
Trust....................................... 71,960
3,830 Federal Signal Corp........................... 63,195
3,231 FelCor Lodging Trust, Inc..................... 59,773
1,402 FEI Co........................................ 42,761
2,932 Ferro Corp.................................... 61,572
5,301 Fidelity National Financial, Inc.............. 97,075
2,828 FileNet Corp./(a)/............................ 51,965
900 Financial Federal Corp./(a)/.................. 15,637
600 FirePond, Inc./(a)/........................... 21,600
4,500 First American Financial Corp................. 64,406
1,900 First Bancorp/Puerto Rico..................... 35,269
800 First Busey Corp.............................. 13,150
2,200 First Charter Corp............................ 34,650
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
12
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Schedule of Investments June 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
Shares Description Value
<C> <S> <C>
400 First Citizens BancShares,
Inc. - Class A.............................. $ 23,800
4,680 First Commonwealth
Financial Corp.............................. 42,412
1,300 First Consulting Group, Inc./(a)/............. 7,231
1,000 First Federal Capital Corp.................... 11,063
2,845 First Financial Bancorp....................... 56,011
750 First Financial Bankshares, Inc............... 20,625
605 First Financial Corp.,
Indiana/(a)/................................ 18,453
900 First Financial Holdings...................... 12,375
600 First Indiana Corp............................ 11,925
3,192 First Industrial Realty
Trust, Inc.................................. 94,164
850 First Merchants Corp.......................... 18,009
3,317 First Midwest Bancorp, Inc.................... 77,120
1,500 First Niagara Financial
Group, Inc.................................. 14,062
2,682 First Sentinel Bancorp, Inc................... 22,043
781 First Source Corp............................. 12,252
2,000 First United Bancshares, Inc.................. 30,375
700 First Washington Realty
Trust, Inc.................................. 15,444
2,600 FirstCom Corp./(a)/........................... 39,162
1,300 FirstFed Financial Corp....................... 18,363
3,460 Fisher Scientific
International/(a)/.......................... 85,635
2,877 Fleetwood Enterprises, Inc.................... 40,997
3,154 Fleming Companies, Inc........................ 41,199
1,600 Florida Rock Industries, Inc.................. 57,000
3,200 Flowserve Corp................................ 48,200
1,500 Footstar, Inc./(a)/........................... 49,875
748 Forcenergy, Inc./(a)/......................... 15,053
1,400 Forest City Enterprises,
Inc. - Class A.............................. 46,725
2,760 Forest Oil Corp./(a)/......................... 43,987
1,100 Forrester Research, Inc./(a)/................. 80,094
1,425 Forward Air Corp./(a)/........................ 57,000
1,094 Fossil, Inc./(a)/............................. 21,265
4,400 Foster Wheeler Corp........................... 37,950
8,555 Foundation Health Systems,
Inc. - Class A/(a)/......................... 111,215
4,092 Franchise Finance Corp.
of America.................................. 94,116
400 Franklin Electric Co., Inc.................... 27,100
12,341 Freeport-McMoRan Copper
& Gold, Inc. - Class B/(a)/................. 114,154
3,148 Fremont General Corp.......................... 12,395
3,469 Friede Goldman
International, Inc./(a)/.................... 31,004
2,100 Friedman, Billings Ramsey
Group, Inc./(a)/............................ 17,062
1,500 Fritz Cos, Inc./(a)/.......................... 15,469
<CAPTION>
Shares Description Value
<C> <S> <C>
1,486 Frontier Airlines, Inc./(a)/.................. $ 21,268
1,100 Frontier Financial Corp....................... 20,212
1,309 Frontier Oil Corp............................. 10,472
2,400 Frontline Capital Group/(a)/.................. 51,150
2,541 FSI International, Inc./(a)/.................. 55,108
200 FuelCell Energy, Inc./(a)/.................... 13,812
1,374 Fuller (H.B.) Co.............................. 62,603
5,253 Fulton Financial Corp......................... 92,912
5,055 Furniture Brands International,
Inc./(a)/................................... 76,457
3,600 FutureLink Corp./(a)/......................... 25,875
1,572 G&K Services, Inc. - Class A.................. 39,398
2,020 Gables Residential Trust...................... 52,141
3,106 Gallagher (Arthur J.) & Co.................... 130,452
1,050 Gardner Denver Machinery,
Inc./(a)/................................... 18,769
5,685 Gartner Group, Inc. -
Class A/(a)/................................ 68,220
1,400 GaSonics International
Corp./(a)/.................................. 55,212
4,600 Gaylord Container Corp. -
Class A/(a)/................................ 12,362
1,600 Gaylord Entertainment, Inc.................... 34,400
840 GBC Bancorp................................... 24,570
500 GC Cos./(a)/.................................. 11,188
1,751 GelTex Pharmaceuticals, Inc./(a)/............. 35,786
2,700 GenCorp., Inc................................. 21,600
2,100 Gene Logic, Inc./(a)/......................... 74,944
2,650 General Cable Corp............................ 21,531
3,900 General Communication -
Class A/(a)/................................ 19,988
2,600 General Semiconductor, Inc./(a)/.............. 38,350
2,400 Genesco, Inc./(a)/............................ 38,550
1,900 Genome Therapeutics Corp./(a)/................ 57,831
600 Genomic Solutions, Inc./(a)/.................. 8,775
3,000 GenRad, Inc./(a)/............................. 27,000
700 Genta Inc./(a)/............................... 4,550
1,460 Gentek, Inc................................... 16,334
1,400 Genzyme Transgenics Corp./(a)/................ 37,975
1,804 Geon Co....................................... 33,374
2,647 Georgia Gulf Corp............................. 55,091
1,400 Geoworks Corp./(a)/........................... 22,050
1,600 Gerber Scientific, Inc........................ 18,400
2,100 Geron Corp./(a)/.............................. 67,200
500 Gibraltar Steel Corp.......................... 7,000
2,200 Glatefelter (P.H.) Co......................... 22,412
5,481 Glenayre Technologies, Inc./(a)/.............. 57,893
2,551 Glenborough Realty Trust, Inc................. 44,483
1,900 Glimcher Realty Trust......................... 27,312
1 Global Crossing Ltd./(a)/..................... 24
1,589 GlobalNet Financial.com, Inc.................. 33,369
1,444 Globix Corp./(a)/............................. 42,327
2,261 Go2Net, Inc./(a)/............................. 113,757
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
13
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Schedule of Investments June 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
Shares Description Value
<C> <S> <C>
561 Golden Telcom, Inc./(a)/...................... $ 16,690
1,200 GoAmerica, Inc./(a)/.......................... 18,525
2,500 GoTo.com, Inc./(a)/........................... 38,281
1,393 Graco, Inc.................................... 45,272
1,600 Granite Construction, Inc..................... 39,200
400 Great American Financial
Resources, Inc.............................. 7,075
1,468 Great Atlantic & Pacific Tea Co............... 24,406
4,531 Great Lakes Chemical Corp..................... 142,726
1,400 Great Lakes REIT, Inc......................... 23,800
1,383 Great Plains Software, Inc./(a)/.............. 27,141
1,927 Greater Bay Bancorp........................... 90,087
50 Grey Advertising, Inc......................... 26,000
13,900 Grey Wolf, Inc./(a)/.......................... 69,500
600 GRIC Communication, Inc./(a)/................. 10,762
1,100 Grief Bros Corp. - Class A.................... 33,825
2,700 Griffon Corp./(a)/............................ 15,019
1,400 Group 1 Automotive, Inc./(a)/................. 16,800
3,100 GTech Holding Corp./(a)/...................... 70,331
900 Guess, Inc./(a)/.............................. 12,600
2,500 Guilford Pharmaceuticals, Inc./(a)/........... 37,656
1,800 Guitar Center, Inc./(a)/...................... 18,900
2,100 Haemonetics Corp./(a)/........................ 44,100
2,882 Hain Celestial Group, Inc./(a)/............... 105,733
1,000 Hall, Kinion & Associates, Inc./(a)/.......... 33,312
3,900 HA-LO Industries/(a)/......................... 21,937
700 Hancock Holding Co............................ 23,800
2,355 Handleman Co./(a)/............................ 29,438
4,154 Hanna (M.A.) Co............................... 37,386
6,512 Hanover Direct, Inc./(a)/..................... 10,175
901 Harbor Florida Bancorp, Inc................... 9,404
2,500 Harland (John H.) Co.......................... 37,344
1,000 Harleysville Group, Inc....................... 16,750
610 Harleysville National Corp.................... 19,977
1,568 Harman International Industries,
Inc......................................... 95,648
200 Harris Financial, Inc......................... 1,238
3,300 Harsco Corp................................... 84,150
1,500 Haverty Furniture Companies,
Inc......................................... 12,750
2,712 Hawaiian Electric Industries.................. 88,987
1,500 Hayes Lemmerz International,
Inc./(a)/................................... 18,094
3,277 HCC Insurance Holdings, Inc................... 61,853
4,201 Health Care Property Investors,
Inc......................................... 114,477
2,475 Health Care REIT, Inc......................... 40,219
3,291 Healthcare Realty Trust, Inc.................. 56,153
1,200 Heartland Express, Inc./(a)/.................. 20,025
300 HEICO Corp.................................... 4,275
1,800 Heidrick & Struggles
International, Inc./(a)/.................... 113,625
2,205 Helix Technology Corp......................... 85,995
<CAPTION>
Shares Description Value
<C> <S> <C>
2,300 Henry Schein, Inc./(a)/....................... $ 39,675
966 Herbalife International, Inc. -
Class A..................................... 8,452
1,100 Hexcel Corp./(a)/............................. 10,450
561 Hickory Tech Corp............................. 6,837
761 hi/fn, Inc./(a)/.............................. 33,769
3,500 High Speed Access Corp./(a)/.................. 22,969
5,640 Highwoods Properties, Inc..................... 135,360
1,100 Hilb, Rogal and Hamilton Co................... 38,156
2,074 HNC Software, Inc./(a)/....................... 128,070
3,005 Hollonger International, Inc.................. 40,943
2,500 Hollywood Entertainment
Corp./(a)/.................................. 19,688
1,600 Home Properties of New
York, Inc................................... 48,000
2,600 HomeGrocer.com, Inc./(a)/..................... 15,681
4,044 HON INDUSTRIES, Inc........................... 95,034
5,500 Hooper Holmes, Inc............................ 44,000
3,968 Horace Mann Educators
Corp........................................ 59,520
1,300 Horizon Offshore, Inc./(a)/................... 20,150
5,198 Hospitality Properties Trust.................. 117,280
1,000 Hot Topic, Inc./(a)/.......................... 32,000
600 Hotel Reservations Network,
Inc. Class A/(a)/........................... 17,850
2,702 Houghton Mifflin Co........................... 126,150
600 Houston Exploration Co./(a)/.................. 15,075
14,100 HRPT Properties Trust......................... 97,819
1,800 HS Resources, Inc./(a)/....................... 54,000
3,100 HSB Group, Inc................................ 96,487
5,193 Hudson United Bancorp......................... 116,518
1,900 Hughes Supply, Inc............................ 37,525
11,993 Humana, Inc./(a)/............................. 58,466
1,700 Hunt (J.B.) Transport
Services, Inc............................... 26,244
2,600 Hutchinson Technology/(a)/.................... 37,050
1,000 Hypercom Corp./(a)/........................... 14,375
2,680 Hyperion Solutions Corp./(a)/................. 86,932
1,000 Hyseq, Inc./(a)/.............................. 45,437
1 i2 technologies, Inc./(a)/.................... 31
1,100 iBasis, Inc./(a)/............................. 47,369
1,300 iBEAM Broadcasting Corp./(a)/................. 23,400
900 Ibis Technolgy Corp./(a)/..................... 54,337
4,000 ICG Communications, Inc./(a)/................. 88,250
3,760 Idacorp, Inc.................................. 121,260
2,000 Identix, Inc./(a)/............................ 31,375
2,500 IDEX Corp..................................... 78,906
3,096 IDEXX Laboratories Inc./(a)/.................. 70,821
1,774 IDT Corp./(a)/................................ 60,205
1,300 IDX Systems Corp./(a)/........................ 18,363
3,206 iGATE Capital Corp./(a)/...................... 44,083
1,206 IGEN International, Inc./(a)/................. 19,974
1,600 IHOP Corp./(a)/............................... 26,800
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
14
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Schedule of Investments June 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
Shares Description Value
<C> <S> <C>
300 II-VI Inc./(a)/............................... $ 14,512
11,286 IKON Office Solutions, Inc.................... 43,733
1,963 ILEX OnOclogy, Inc./(a)/...................... 69,196
1,589 Illuminet Holdings, Inc./(a)/................. 80,840
3,003 Imation Corp./(a)/............................ 88,213
5,329 Imatron, Inc./(a)/............................ 12,490
1,215 Immersion Corp./(a)/.......................... 36,450
3,179 ImmunoGen, Inc./(a)/.......................... 38,347
2,500 Immunomedics, Inc./(a)/....................... 61,250
964 IMPATH, Inc./(a)/............................. 52,297
600 IMPCO Technologies, Inc./(a)/................. 25,425
4,073 Imperial Bancorp/(a)/......................... 63,641
800 IMPSAT Fiber Networks,
Inc./(a)/................................... 13,400
2,000 IMRglobal Corp./(a)/.......................... 26,125
2,141 In Focus Systems, Inc./(a)/................... 68,913
935 INAMED Corp./(a)/............................. 34,244
7,042 Independence Community
Bank....................................... 93,307
5,820 IndyMac Mortgage
Holdings, Inc............................... 78,934
2,000 InfoUSA Inc./(a)/............................. 13,000
840 Infogrames, Inc./(a)/......................... 6,825
2,000 Informatica Corp./(a)/........................ 163,875
2,400 Information Architects
Corp./(a)/.................................. 16,650
700 Information Holdings, Inc./(a)/............... 25,900
700 Ingles Markets, Inc. -
Class A..................................... 7,306
1,403 Inhale Therapeutic Systems/(a)/............... 142,361
3,200 Innkeepers USA Trust.......................... 29,200
5,329 Inprise Corp./(a)/............................ 32,640
4,200 Input/Output, Inc./(a)/....................... 35,437
3,179 Insight Communications
Company, Inc./(a)/.......................... 49,672
1,875 Insight Entreprises, Inc./(a)/................ 111,211
1,466 Insignia Financial Group,
Inc. - Class A/(a)/......................... 14,660
2,090 Insituform Technologies -
Class A/(a)/................................ 56,691
1,122 Insurance Auto Auctions,
Inc./(a)/................................... 23,702
1,322 Integra Bank Corp............................. 22,474
1,500 Integrated Circuit Systems,
Inc./(a)/................................... 25,687
2,100 Integrated Electrical Services,
Inc./(a)/................................... 10,762
1,900 Integrated Silicon Solution,
Inc./(a)/................................... 72,200
3,646 InteliData Technology
Corp./(a)/.................................. 37,599
900 Interact Commerce Corp./(a)/.................. 10,631
500 Interactive Intelligence,
Inc./(a)/................................... 18,750
<CAPTION>
Shares Description Value
<C> <S> <C>
4,560 InterDigital Communications
Corp./(a)/.................................. $ 75,525
3,841 Interface, Inc................................ 14,644
3,424 Intergraph Corp./(a)/......................... 25,894
4,643 Interim Services Inc./(a)/.................... 82,413
3,646 Interliant, Inc./(a)/......................... 84,997
1,028 Interlink Electronics, Inc./(a)/.............. 43,047
275 Interlogix, Inc./(a)/......................... 3,781
4,200 Intermedia Communications,
Inc./(a)/................................... 124,950
400 Intermune Pharmaceuticals,
Inc./(a)/................................... 16,525
1,281 International Bancshares
Corp........................................ 41,793
2,500 International FiberCom,
Inc./(a)/................................... 63,750
4,100 International Home Foods,
Inc./(a)/................................... 85,844
1,100 International Multifoods Corp................. 19,044
1,100 International Speciality
Products, Inc............................... 6,256
700 internet.com Corp./(a)/....................... 13,781
4,114 Internet Pictures Corp./(a)/.................. 62,224
900 Interpool, Inc................................ 8,775
4,100 Interstate Bakeries Corp...................... 57,400
4,862 Intertrust Technologies Corp./(a)/............ 99,975
2,290 Inter-Tel, Inc................................ 36,783
2,287 IntertTAN, Inc./(a)/.......................... 26,872
2,700 InterVoice-Brite, Inc......................... 17,719
1,200 Interwest Bancorp, Inc........................ 16,800
1,776 InterWorld Corp./(a)/......................... 36,408
1,400 Interwoven, Inc./(a)/......................... 153,978
1,500 IntraNet Solutions, Inc./(a)/................. 57,562
1,500 Intraware, Inc./(a)/.......................... 24,094
2,000 Intrusion.com, Inc./(a)/...................... 22,625
2,000 Invacare Corp................................. 52,500
2,096 Investment Technology
Group, Inc.................................. 89,211
2,956 Investors Financial Services
Corp........................................ 117,316
629 Invitrogen Corp./(a)/......................... 47,303
22,447 Iomega Corp./(a)/............................. 89,788
1,400 Ionics, Inc./(a)/............................. 42,875
2,800 IRT Property Co............................... 23,800
700 Irwin Financial Corp.......................... 10,106
3,568 Isis Pharmaceuticals, Inc./(a)/............... 51,736
2,711 Isle of Capri Casinos, Inc./(a)/.............. 36,768
935 I-STAT Corp./(a)/............................. 16,304
4,690 ITC Deltacom, Inc./(a)/....................... 104,646
1,100 ITT Educational Services,
Inc./(a)/................................... 19,319
700 ITXC Corp./(a)/............................... 24,784
1,690 Ivex Packaging Corp./(a)/..................... 18,801
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
15
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Schedule of Investments June 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
Shares Description Value
<C> <S> <C>
2,500 iVillage, Inc./(a)/........................... $ 21,094
4,000 iXL Enterprises, Inc./(a)/.................... 58,000
300 IXYS Corp./(a)/............................... 16,012
4,300 J.D. Edwards & Co./(a)/....................... 64,769
3,398 Jack in the Box, Inc./(a)/.................... 83,676
2,100 Jacobs Engineering Group,
Inc./(a)/................................... 68,644
2,200 JAKKS Pacific, Inc./(a)/...................... 32,450
2,082 JDA Software Group, Inc./(a)/................. 39,948
2,950 JDN Realty Corp............................... 30,053
1,800 Jefferies Group, Inc.......................... 36,338
3,500 JLG Industries, Inc./(a)/..................... 41,563
700 JNI Corp./(a)/................................ 22,137
600 John Nuveen Co. - Class A..................... 25,163
3,411 John Wiley & Sons, Inc. -
Class A..................................... 76,748
2,582 Jones Lang LaSalle Inc./(a)/.................. 34,534
4,103 Journal Register Co./(a)/..................... 74,880
900 JP Realty, Inc................................ 16,031
1,900 Juno Online Services, Inc./(a)/............... 20,425
800 Just For Feet, Inc./(a)/...................... 20
1,200 Justin Industries, Inc........................ 26,250
900 K-V Pharmaceutical Co./(a)/................... 24,469
1,100 Kaiser Aluminum Corp./(a)/.................... 4,400
1,800 Kaman Corp. - Class A......................... 19,238
600 Kansas City Life Insurance Co................. 16,125
5,918 Kansas City Power & Light
Co.......................................... 133,155
4,968 Kaufman & Broad Home Corp..................... 98,428
2,590 Kaydon Corp................................... 54,390
800 Keithley Instruments, Inc./(a)/............... 69,700
2,182 Kellwood Co................................... 46,095
1,400 Kelly Services, Inc........................... 32,375
2,412 Kennametal, Inc............................... 51,707
350 Kenneth Cole Productions,
Inc. - Class A/(a)/......................... 14,000
2,300 Kent Electronics Corp./(a)/................... 68,569
6,700 Key Energy Group, Inc./(a)/................... 64,488
1,309 Key Production Co., Inc./(a)/................. 22,907
1,500 Keynote Ststems, Inc./(a)/.................... 105,844
5,000 Keystone Financial, Inc....................... 106,250
3,140 kforce.com, Inc./(a)/......................... 21,784
2,200 Kilroy Realty Corp............................ 57,063
2,700 Kimball International Inc. -
Class B..................................... 39,825
2,036 Kirby Corp./(a)/.............................. 43,265
512 Knight Transportation, Inc./(a)/.............. 7,456
2,200 Koger Equity, Inc............................. 37,125
2,923 Korn/Ferry International/(a)/................. 92,623
280 Krispy Kreme Doughnuts, Inc./(a)/............. 20,580
1,421 Kronos, Inc./(a)/............................. 36,946
2,000 Kulicke & Soffa Industries,
Inc./(a)/................................... 118,750
<CAPTION>
Shares Description Value
<C> <S> <C>
2,900 Labor Ready, Inc./(a)/........................ $ 19,213
420 Laboratory Corp. of America
Holdings/(a)/............................... 32,392
2,524 LaBranche & Co., Inc./(a)/.................... 36,282
1,500 Laclede Gas Co................................ 28,875
3,400 Lancaster Colony Corp......................... 65,237
3,200 Lance, Inc.................................... 28,800
1,000 Landamerica Financial Group................... 22,938
1,800 Landry's Seafood Restaurants,
Inc./(a)/................................... 15,300
1,125 Lands' End, Inc./(a)/......................... 37,547
806 Landstar System, Inc./(a)/.................... 48,007
1,000 LaSalle Hotel Properties...................... 14,375
1,900 Latitude Communications,
Inc./(a)/................................... 21,256
400 Lawson Products, Inc.......................... 9,850
4,400 La-Z-Boy Chair, Inc........................... 61,600
1,200 LCC International, Inc. -
Class A/(a)/................................ 32,775
2,200 Leap Wireless International,
Inc./(a)/................................... 103,400
5,205 Lear Corp./(a)/............................... 104,100
1,083 Learning Tree International,
Inc./(a)/................................... 66,334
3,800 Lee Enterprises. Inc.......................... 88,587
7,300 Legato Systems, Inc./(a)/..................... 110,413
4,372 Lennar Corp................................... 88,533
2,618 Lennox International, Inc..................... 34,689
3,730 Leucadia National Corp........................ 85,091
800 Level 8 Systems, Inc./(a)/.................... 16,850
1,122 Lexicon Genetiocs, Inc./(a)/.................. 38,569
1,300 Lexington Corporate Preporties
Trust....................................... 14,544
1,200 Libbey, Inc................................... 38,550
1,375 Liberty Corp.................................. 57,750
1,000 Liberty Financial Cos., Inc................... 21,937
1,200 LifeMinders, Inc./(a)/........................ 35,475
3,100 LifePoint Hospitals, Inc./(a)/................ 68,975
4,300 Ligand Pharmaceuticals, Inc. -
Class B/(a)/................................ 56,706
1,122 Lightbridge, Inc. - Class A/(a)/.............. 26,788
1,200 LightPath Technologies, Inc. -
Class A/(a)/................................ 47,775
1,900 Lilly Industries, Inc. - Class A.............. 57,119
3,831 Lincare Holdings, Inc./(a)/................... 94,338
2,974 Lincoln Electric Co........................... 42,379
1,050 Lindsay Manufacturing Co...................... 20,606
3,300 Linens 'n Things, Inc./(a)/................... 89,513
200 Liqui-Box Corp................................ 9,900
1,986 Littelfuse, Inc./(a)/......................... 97,314
2,036 LNR Property Corp............................. 39,702
654 LodgeNet Entertainment
Corp./(a)/.................................. 15,859
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
16
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Schedule of Investments June 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
Shares Description Value
<C> <S> <C>
3,400 Lone Star Steakhouse &
Saloon/(a)/................................. $ 34,425
2,236 Lone Star Technologies,
Inc./(a)/................................... 103,415
2,083 Longs Drug Stores Corp........................ 45,305
4,400 Longview Fibre Co............................. 48,675
3,900 LookSmart, Ltd./(a)/.......................... 72,150
1,585 Louis Dreyfus Natural Gas
Corp./(a)/.................................. 49,630
10,016 Louisiana-Pacific Corp........................ 108,924
70 LTC Healthcare, Inc./(a)/..................... 66
6,970 LTV Corp...................................... 20,039
3,974 LTX Corp./(a)/................................ 138,842
1,600 Luby's Cafeterias, Inc........................ 12,800
1,000 Lynx Therapeutics, Inc./(a)/.................. 47,562
1,900 M.D.C. Holdings, Inc.......................... 35,388
700 M.S. Carriers, Inc./(a)/...................... 12,337
1,503 MacDermid, Inc................................ 35,321
700 Madison Gas & Electric Co..................... 13,825
1,911 MAF Bancorp, Inc.............................. 34,756
2,700 MagneTek, Inc./(a)/........................... 21,600
4,300 Mail.com, Inc./(a)/........................... 24,456
3,400 Mail Well, Inc./(a)/.......................... 29,325
300 Manhattan Associates, Inc./(a)/............... 7,500
2,177 Manitowoc Co., Inc............................ 58,235
5,914 Manor Care, Inc./(a)/......................... 41,398
1,500 Manufactured Home
Communities, Inc............................ 35,906
1,896 Manugistics Group, Inc./(a)/.................. 88,638
935 MapInfo Corp./(a)/............................ 37,984
1,650 Marcus Corp................................... 20,006
1,600 Marimba, Inc./(a)/............................ 22,300
3,933 Mark IV Industries, Inc....................... 82,101
600 Markel Corp./(a)/............................. 84,975
300 MarketWatch.com, Inc./(a)/.................... 5,644
1,122 Martek Biosciences Corp./(a)/................. 21,037
1,122 Martha Stewart Living
Omnimedia, Inc./(a)/........................ 24,684
3,100 MascoTech, Inc................................ 33,519
2,337 Matrix Pharmaceutical, Inc./(a)/.............. 30,527
600 MatrixOne, Inc./(a)/.......................... 24,375
1,300 Matthews International Corp. -
Class A..................................... 37,700
1,400 Mattson Technology, Inc./(a)/................. 45,500
1,883 Maverick Tube Corp./(a)/...................... 54,842
1,496 Maxim Pharmaceuticals,
Inc./(a)/................................... 76,857
900 MAXIMUS, Inc./(a)/............................ 19,913
5,796 Maxtor Corp./(a)/............................. 61,220
600 Maxygen, Inc./(a)/............................ 34,059
654 McAfee.com/(a)/............................... 17,045
800 McGrath Rentcorp.............................. 13,600
700 MCK Communications, Inc./(a)/................. 16,187
<CAPTION>
Shares Description Value
<C> <S> <C>
1,700 McMoRan Exploration Co./(a)/.................. $ 28,050
1,186 MCSi, Inc./(a)/............................... 30,688
4,800 MDU Resources Group, Inc...................... 103,800
600 Meade Instruments Corp./(a)/.................. 15,075
2,385 Mechanical Technology, Inc./(a)/.............. 35,775
900 Medallion Financial Corp...................... 13,894
1,200 Media 100 Inc./(a)/........................... 30,900
1,428 Media General, Inc. - Class A................. 69,347
1,335 Media Metrix, Inc./(a)/....................... 33,959
2,300 Mediacom Communications
Corp./(a)/.................................. 35,362
1,200 Mediaplex, Inc./(a)/.......................... 23,175
1,793 Medical Assurance, Inc./(a)/.................. 20,171
3,600 Medical Manager Corp./(a)/.................... 122,625
1,300 Medicalogic/Medscape, Inc./(a)/............... 12,025
2,353 Medicis Pharmaceutical
Corp. - Class A/(a)/........................ 134,121
8,475 Meditrust Co./(a)/............................ 31,781
3,006 MedQuist, Inc./(a)/........................... 102,204
1,072 MemberWorks, Inc./(a)/........................ 36,046
2,703 MEMC Electronic Materials,
Inc./(a)/................................... 48,654
1,796 Mentor Corp................................... 48,829
6,200 Mentor Graphics Corp./(a)/.................... 123,225
2,082 Mercator Software, Inc./(a)/.................. 143,138
1,500 Merchants New York Bancorp.................... 25,781
1,722 Mercury Computer
Systems, Inc./(a)/.......................... 55,642
2,009 Mercury General Corp.......................... 47,463
3,511 Meredith Corp................................. 118,496
1,900 Meridian Resource Corp./(a)/.................. 10,806
4,144 Meristar Hospitality Corp..................... 87,024
4,457 Meritor Automotive, Inc....................... 49,027
2,500 Mesa Air Group, Inc./(a)/..................... 13,828
1,100 Mesaba Holdings, Inc./(a)/.................... 10,519
2,400 MetaCreations Corp./(a)/...................... 28,800
2,200 Metals USA, Inc./(a)/......................... 10,312
700 Metasolv Software, Inc./(a)/.................. 30,800
3,328 Methode Electronics, Inc. -
Class A..................................... 128,544
1,700 Metricom, Inc./(a)/........................... 47,388
4,935 Metris Cos., Inc.............................. 123,992
6,732 Metrocall, Inc./(a)/.......................... 60,588
4,700 Metromedia International
Group, Inc./(a)/............................ 22,325
3,290 Mettler-Toledo International,
Inc./(a)/................................... 131,600
2,900 MGC Communications, Inc./(a)/................. 173,819
1,700 MGI Pharma, Inc./(a)/......................... 48,902
1,641 Michael Foods, Inc............................ 40,204
2,728 Michaels Stores, Inc./(a)/.................... 124,977
3,700 Micron Electronics, Inc./(a)/................. 46,250
1,883 MICROS Systems, Inc./(a)/..................... 34,953
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
17
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Schedule of Investments June 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
Shares Description Value
<C> <S> <C>
1,122 Microsemi Corp./(a)/.......................... $ 38,078
2,456 MicroStrategy, Inc./(a)/...................... 73,680
935 Microvision, Inc./(a)/........................ 45,815
3,700 Mid Atlantic Medical Services,
Inc./(a)/................................... 49,950
1,400 Mid-America Apartment
Communities, Inc............................ 33,600
615 MidAmerica Bancorp............................ 15,375
1,300 Midas, Inc.................................... 26,000
280 Midcoast Energy Resources,
Inc......................................... 4,410
900 Mid-State Bancshares.......................... 24,525
2,259 Midway Games, Inc./(a)/....................... 18,213
1,150 MidWest Express Holdings,
Inc./(a)/................................... 24,725
2,998 Milacron, Inc................................. 43,471
5,031 Millennium Chemicals, Inc..................... 85,527
1,930 Mills Corp.................................... 36,308
700 Mine Safety Appliances Co..................... 16,800
1,668 Minerals Technologies, Inc.................... 76,728
7,075 Minnesota Power, Inc.......................... 122,486
3,537 MIPS Technologies, Inc. -
Class A/(a)/................................ 150,323
1,402 Miravant Medical
Technologies/(a)/........................... 31,282
400 Mississippi Valley Bancshares,
Inc......................................... 9,700
1,700 Mitchell Energy &
Development Corp. -
Class A..................................... 54,613
600 MKS Instruments, Inc./(a)/.................... 23,475
2,582 MMC Networks, Inc./(a)/....................... 137,976
374 Mobile Mini, Inc./(a)/........................ 8,251
1,322 Modem Media Poppe Tyson,
Inc./(a)/................................... 16,442
2,406 Modine Manufacturing Co....................... 64,962
7,072 Modis Professional Services,
Inc./(a)/................................... 53,924
4,031 Mohawk Industries, Inc./(a)/.................. 87,674
1,100 Molecular Devices Corp./(a)/.................. 76,106
1,450 Monaco Coach Corp./(a)/....................... 19,756
300 Moog, Inc. - Class A/(a)/..................... 7,912
2,150 Morgan Keegan, Inc............................ 31,713
2,900 Morrison Knudsen Corp./(a)/................... 21,025
1,080 Morrison Management
Speclists, Inc.............................. 30,442
1,500 MP3.com, Inc./(a)/............................ 20,344
4,300 MRV Communications, Inc./(a)/................. 289,175
2,618 MSI Holdings, Inc./(a)/....................... 23,726
3,396 MTI Tech Corp./(a)/........................... 27,168
3,500 Mueller Industries, Inc./(a)/................. 98,000
1,564 Multex.com, Inc./(a)/......................... 39,393
2,300 Musicland Stores Corp./(a)/................... 17,106
<CAPTION>
Shares Description Value
<C> <S> <C>
1,180 Myers Industries, Inc......................... $ 12,685
1,800 MyPoints.com, Inc./(a)/....................... 34,116
700 Myriad Genetics, Inc./(a)/.................... 103,655
1,297 N B T Bancorp, Inc............................ 13,862
3,833 Nabi/(a)/..................................... 28,029
925 NACCO Industries, Inc. -
Class A..................................... 32,491
1,100 Nanogen, Inc./(a)/............................ 46,681
600 Nanometrics Inc./(a)/......................... 24,712
1,200 National Bancorp of Alaska,
Inc......................................... 43,050
3,019 National Computer Systems,
Inc......................................... 148,686
2,389 National Data Corp............................ 54,947
882 National Discount Brokers
Group, Inc./(a)/............................ 28,114
900 National Golf Properties, Inc................. 19,012
1,900 National Health Investors, Inc................ 20,900
1,000 National Information
Consortium, Inc./(a)/....................... 11,375
1,376 National Penn Bancshares, Inc................. 28,380
600 National Presto Industries,
Inc......................................... 18,450
800 National Processing, Inc./(a)/................ 10,000
100 National Western Life
Insurance Co. - Class A/(a)/................ 7,200
4,231 National Service Industries, Inc.............. 82,504
1,300 National Steel Corp. -
Class B..................................... 5,444
474 National-Oilwell, Inc./(a)/................... 15,579
2,600 NationsRent, Inc./(a)/........................ 9,913
3,800 Nationwide Health
Properties, Inc............................. 52,962
1,400 Natural MicroSystems Corp./(a)/............... 157,412
3,200 Nautica Enterprises, Inc./(a)/................ 34,200
2,875 Navigant Consulting, Inc./(a)/................ 12,219
2,900 NBC Internet, Inc. - Class A/(a)/............. 36,250
4,638 NBTY, Inc./(a)/............................... 29,567
200 NCH Corp...................................... 7,238
1,600 NCI Building Systems, Inc./(a)/............... 32,400
1,911 NCO Group, Inc./(a)/.......................... 44,192
636 NEON Systems, Inc./(a)/....................... 11,925
1,963 NeoRx Corp./(a)/.............................. 37,052
1,122 Neose Technologies, Inc./(a)/................. 47,194
800 Net2Phone, Inc./(a)/.......................... 28,550
2,244 Netcentives Inc./(a)/......................... 41,794
400 NetCreations, Inc./(a)/....................... 18,325
1,412 Net Perceptions, Inc./(a)/.................... 22,415
2,696 Net.B@nk, Inc./(a)/........................... 33,532
1,418 NetObjects, Inc./(a)/......................... 12,939
1,402 Netegrity, Inc./(a)/.......................... 105,588
2,200 Net IQ Corp./(a)/............................. 131,175
1,000 Netopia, Inc./(a)/............................ 40,250
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
18
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Schedule of Investments June 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
Shares Description Value
<C> <S> <C>
3,600 NETRIX Corp./(a)/............................. $ 44,325
2,900 Netro Corp./(a)/.............................. 166,387
748 NETsilicon, Inc./(a)/......................... 24,497
400 Netsol International, Inc./(a)/............... 14,200
2,992 Network Commerce Inc./(a)/.................... 16,456
1,700 Network Equipment
Technologies, Inc./(a)/..................... 17,106
1,683 Network Peripheral, Inc./(a)/................. 28,190
1,200 Network Plus Corp./(a)/....................... 17,025
1,870 Neurocrine Biosciences, Inc./(a)/............. 66,502
1,100 Neurogen Corp./(a)/........................... 31,763
1,100 New England Business
Service, Inc................................ 17,875
2,100 New Era of Networks, Inc./(a)/................ 89,250
1,500 New Jersey Resources Corp..................... 57,094
8,900 New Plan Excel Realty Trust................... 115,700
5,425 Newpark Resources, Inc./(a)/.................. 51,198
2,500 Newport News Shipbuilding,
Inc......................................... 91,875
2,961 NextCard, Inc./(a)/........................... 25,169
2,900 Nexell Therapeutics, Inc./(a)/................ 43,137
1,200 Nhancement Technologies,
Inc./(a)/................................... 15,975
900 Niku Corp./(a)/............................... 30,375
1,800 NL Industries, Inc............................ 27,450
1,500 Nordson Corp.................................. 75,938
800 Nortek, Inc./(a)/............................. 15,800
1,100 North Pittsburgh Systems, Inc................. 16,225
561 NorthEast Optic Network,
Inc./(a)/................................... 34,572
800 Northwest Bancorp, Inc........................ 5,500
2,707 Northwest Natural Gas Co...................... 60,569
1,900 Northwestern Corp............................. 43,937
654 Novadigm, Inc./(a)/........................... 12,916
1,900 Noven Pharmaceuticals, Inc./(a)/.............. 57,119
1,400 Novoste Corp./(a)/............................ 85,400
1,100 NPC International, Inc./(a)/.................. 9,866
1,870 NPS Pharmaceticals, Inc./(a)/................. 50,022
1,776 NS Group, Inc./(a)/........................... 37,185
2,644 Nu Skin Enterprises, Inc./(a)/................ 15,203
400 Nuance Communications, Inc./(a)/.............. 33,325
467 Nucentrix Broadband
Networks, Inc./(a)/......................... 11,908
1,900 Nuevo Energy Co./(a)/......................... 35,863
1,000 NUI Corp...................................... 27,000
300 Numerical Technologies, Inc./(a)/............. 14,587
782 NVR, Inc./(a)/................................ 44,574
1,870 NYFIX, Inc./(a)/.............................. 78,423
3,300 Oak Technology, Inc./(a)/..................... 71,156
2,200 Oakley, Inc./(a)/............................. 25,300
2,200 Objective Systems Integrators,
Inc./(a)/................................... 23,512
900 Ocean Financial Corp.......................... 16,594
<CAPTION>
Shares Description Value
<C> <S> <C>
1,500 Oceaneering International,
Inc./(a)/................................... $ 28,500
1,200 O'Charley's, Inc./(a)/........................ 16,350
7,342 OGE Energy Corp............................... 135,827
2,150 OSI Pharmaceuticals, Inc./(a)/................ 61,947
1,200 Ocular Sciences, Inc./(a)/.................... 14,100
3,000 Ocwen Financial Corp./(a)/.................... 16,688
9,390 OfficeMax, Inc./(a)/.......................... 46,950
2,700 Offshore Logistics, Inc./(a)/................. 38,812
4,390 Ogden Corp.................................... 39,510
6,342 Ohio Casualty Corp............................ 67,384
3,390 Olin Corp..................................... 55,935
2,200 OM Group, Inc................................. 96,800
600 Omega Financial Corp.......................... 15,150
7,401 Omnicare, Inc................................. 67,072
2,600 Omnova Solutions, Inc......................... 16,250
800 OMI Corp./(a)/................................ 4,350
2,200 On Assignment, Inc./(a)/...................... 67,100
900 On Command Corp./(a)/......................... 12,825
400 OnDisplay, Inc./(a)/.......................... 32,575
2,400 On2.com, Inc./(a)/............................ 12,300
1,200 Onvia.com, Inc./(a)/.......................... 10,350
2,775 One Valley Bancorp, Inc....................... 86,719
1,100 Oneida Ltd.................................... 19,525
2,325 OneMain.com, Inc./(a)/........................ 26,156
3,190 ONEOK, Inc.................................... 82,741
1,942 ONYX Software Corp./(a)/...................... 57,653
3,461 Open Market, Inc./(a)/........................ 47,805
400 Optical Cable Corp./(a)/...................... 12,100
400 ORATEC Interventions, Inc./(a)/............... 13,350
3,060 Orbital Sciences Corp./(a)/................... 37,294
800 Orchid Biosciences, Inc./(a)/................. 30,375
3,848 O'Reilly Automotive, Inc./(a)/................ 53,391
2,693 Organogenesis, Inc./(a)/...................... 30,801
733 Oriental Financial Group...................... 10,583
800 Osicom Technologies, Inc./(a)/................ 67,700
3,400 Orthodontic Centers of
America, Inc./(a)/.......................... 76,925
1,008 Oshkosh B'Gosh, Inc. -
Class A..................................... 16,506
1,625 Oshkosh Truck Corp............................ 58,094
1,600 Otter Tail Power Co........................... 33,600
2,100 Overseas Shipholding
Group, Inc.................................. 51,713
3,631 Owens Corning................................. 33,587
3,700 Owens & Minor, Inc.
Holding Co.................................. 63,594
1,300 PC-Tel, Inc./(a)/............................. 49,400
936 P.F. Chang's China Bistro, Inc./(a)/.......... 29,894
2,000 Pacific Capital Bancorp....................... 50,125
2,300 Pacific Gulf Properties, Inc.................. 57,644
3,137 Pacific Sunwear of California,
Inc./(a)/................................... 58,819
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
19
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Schedule of Investments June 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
Shares Description Value
<C> <S> <C>
800 Packard Bioscience Co./(a)/................... $ 13,600
1,600 Packeteer, Inc./(a)/.......................... 46,600
1,122 Pac-West Telecomm, Inc./(a)/.................. 22,440
2,805 Packaging Corp of America/(a)/................ 28,401
12,860 Pactiv Corp./(a)/............................. 101,273
1,650 Palm, Inc./(a)/............................... 23,925
700 Pan Pacific Retail Properties................. 14,087
1,506 Papa John's International, Inc./(a)/.......... 36,897
900 Paradigm Genetics, Inc./(a)/.................. 10,969
1,200 Paradyne Networks, Inc./(a)/.................. 39,075
1,960 PAREXEL International Corp./(a)/.............. 18,743
1,025 Park Electrochemical Corp..................... 36,964
725 Park National Corp............................ 65,794
6,800 Parker Drilling Co./(a)/...................... 42,075
760 ParkerVision, Inc./(a)/....................... 38,332
800 Parkway Properties, Inc....................... 24,400
1,800 PathoGenesis Corp./(a)/....................... 46,800
1,309 Patina Oil & Gas Corp......................... 27,162
2,625 Patterson Energy, Inc./(a)/................... 74,813
3,650 Paxar Corp./(a)/.............................. 43,572
2,700 Paxson Communications
Corp./(a)/.................................. 22,950
1,648 Payless ShoeSource, Inc./(a)/................. 86,005
550 PC Connection, Inc./(a)/...................... 31,350
6,625 P-COM, Inc./(a)/.............................. 37,680
2,204 Pegasus Systems, Inc./(a)/.................... 23,968
187 Penn Engineering &
Manufacturing Corp.......................... 6,592
841 Pennaco Energy, Inc./(a)/..................... 13,771
900 Pennsylvania Real Estate
Investment Trust............................ 15,413
8,000 Pennzoil-Quaker State Co...................... 96,500
1,860 Penton Media, Inc............................. 65,100
1,522 People's Bank................................. 27,967
3,450 Peoples Energy Corp........................... 111,694
1,300 Performance Food Group, Inc./(a)/............. 41,600
1,000 Pericom Semiconductor Corp./(a)/.............. 68,000
3,946 Perot Systems Corp. -
Class A/(a)/................................ 43,406
6,098 Perrigo Co./(a)/.............................. 38,494
3,333 Per-Se Technologies, Inc./(a)/................ 31,247
2,200 Petco Animal Supplies, Inc./(a)/.............. 43,175
11,700 PETsMART, Inc./(a)/........................... 39,488
1,100 PFF Bancorp, Inc.............................. 20,075
1,800 Pharmacopeia, Inc./(a)/....................... 83,475
1,898 Pharmaceutical Product
Development, Inc./(a)/...................... 39,858
1,300 Pharmacyclics, Inc./(a)/...................... 79,300
600 Philadelphia Consolidated
Holding Corp./(a)/.......................... 10,087
3,000 Philadelphia Suburban Corp.................... 61,500
1,500 Phillips-Van Heusen Corp...................... 14,250
3,700 Phoenix Investment Partners,
Ltd......................................... 38,850
<CAPTION>
Shares Description Value
<C> <S> <C>
2,568 Phoenix Technologies Ltd./(a)/................ $ 41,891
841 Photon Dynamics, Inc./(a)/.................... 62,812
1,768 Photronics, Inc./(a)/......................... 50,167
700 Physician Computer Network,
Inc./(a)/................................... 7
800 PICO Holdings, Inc./(a)/...................... 11,250
2,600 Piedmont Natural Gas Co., Inc................. 69,063
8,100 Pier 1 Imports, Inc........................... 78,975
900 Pilgrims Pride Corp........................... 6,413
1,900 Pinnacle Entertainment, Inc................... 36,931
3,512 Pinnacle Systems, Inc./(a)/................... 78,965
2,400 Pioneer Group, Inc./(a)/...................... 101,700
9,133 Pioneer Natural Resources
Co./(a)/.................................... 116,446
2,968 Pioneer Standard Electronics,
Inc......................................... 43,778
3,992 Pittston Brink's Group........................ 54,640
800 Pixelworks, Inc./(a)/......................... 18,200
1,400 Plains Resources Inc./(a)/.................... 22,313
1,400 Plantronics, Inc./(a)/........................ 161,700
1,760 Playboy Enterprises, Inc. -
Class B/(a)/................................ 22,660
2,800 Playtex Products, Inc./(a)/................... 31,675
1,512 Plexus Corp./(a)/............................. 170,856
1,525 PLX Technology, Inc./(a)/..................... 63,287
1,400 PMA Capital Corp. - Class A................... 26,600
3,382 Pogo Producing Co............................. 74,827
2,012 Polaris Industries, Inc....................... 64,384
3,660 Polaroid Corp................................. 66,109
3,600 Policy Management
Systems Corp./(a)/.......................... 55,350
4,070 Polo Ralph Lauren Corp./(a)/.................. 57,997
1,377 Polymer Group, Inc............................ 12,737
1,776 Pope & Talbot, Inc............................ 28,416
2,168 Potlatch Corp................................. 71,815
2,200 Power Integrations, Inc./(a)/................. 51,838
1,000 PRAECIS Pharmaceuticals,
Inc./(a)/................................... 27,875
2,282 Precision Castparts Corp...................... 103,261
1,210 Premier National Bancorp, Inc................. 15,730
3,100 Prentiss Properties Trust..................... 74,400
1,600 Pre-Paid Legal Services, Inc./(a)/............ 47,800
2,000 Presidential Life Corp........................ 27,750
2,900 Presstek, Inc./(a)/........................... 47,306
1,700 PRI Automation, Inc./(a)/..................... 111,164
3,808 Price Communications Corp./(a)/............... 89,726
2,076 Primark Corp./(a)/............................ 77,331
748 Prima Energy Corp./(a)/....................... 40,018
600 Prime Group Realty Trust...................... 9,113
4,100 Prime Hospitality Corp./(a)/.................. 38,694
1,028 Primus Knowledge Solutions,
Inc./(a)/................................... 46,260
1,300 Primex Technologies........................... 28,600
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
20
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Schedule of Investments June 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
Shares Description Value
<C> <S> <C>
2,490 Primus Telecommunications
Group/(a)/.................................. $ 61,939
1,092 Priority Healthcare Corp./(a)/................ 81,149
7,931 Prison Realty Trust, Inc./(a)/................ 24,289
1,150 ProBusiness Services, Inc./(a)/............... 30,547
500 Procom Technology, Inc./(a)/.................. 25,844
2,000 procurenet/(a)(d)/............................ --
1,297 Prodigy Communications
Corp./(a)/.................................. 13,619
300 Professional Detailing, Inc./(a)/............. 10,219
4,197 Profit Recovery Group
International/(a)/.......................... 69,775
3,494 Progress Software Corp./(a)/.................. 62,674
1,020 Project Software &
Development, Inc./(a)/...................... 18,360
1,100 ProsoftTraining.com/(a)/...................... 18,494
93 Providence Energy Corp........................ 3,766
2,975 Provident Bankshares, Corp.................... 40,163
2,389 Provident Financial Group, Inc................ 56,888
2,012 Province Healthcare Co./(a)/.................. 72,683
1,100 Proxicom, Inc./(a)/........................... 108,866
1,900 PS Business Parks, Inc........................ 45,600
7,263 PSS World Medical, Inc./(a)/.................. 48,798
3,813 Public Service Co. of New
Mexico...................................... 58,863
600 Pulitzer, Inc................................. 25,313
2,577 Pulte Corp.................................... 55,728
2,600 Puma Technology, Inc./(a)/.................... 69,712
1,000 PurchasePro.com, Inc./(a)/.................... 41,000
3,646 Pure Resources, Inc./(a)/..................... 65,172
1,380 QRS Corp./(a)/................................ 33,897
1,100 Quanex Corp................................... 16,363
6,698 Quantum Corp. - Hard Disk
Drive/(a)/.................................. 74,097
200 Quantum Effect Devices, Inc./(a)/............. 11,400
2,100 Queens County Bancorp, Inc.................... 38,719
1,402 QuickLogic Corp./(a)/......................... 31,194
1,550 Quicksilver, Inc./(a)/........................ 24,122
1,900 Quintus Corp./(a)/............................ 37,733
5,986 Quorum Health Group, Inc./(a)/................ 61,731
2,700 R.H. Donnelley Corp./(a)/..................... 52,313
800 R&G Financial Corp. - Class B................. 6,350
1,324 Radiant Systems, Inc./(a)/.................... 31,776
1,920 Radio One, Inc. - Class D/(a)/................ 42,360
1,074 RadiSys Corp./(a)/............................ 60,950
1,028 Rainbow Technologies, Inc./(a)/............... 49,986
2,060 Ralcorp Holdings, Inc./(a)/................... 25,235
1,700 Ramp Networks, Inc./(a)/...................... 20,187
1,300 RARE Hospitality
International, Inc./(a)/.................... 36,725
2,761 Rare Medium Group, Inc./(a)/.................. 43,658
3,403 Raymond James
Financial, Inc.............................. 76,568
<CAPTION>
Shares Description Value
<C> <S> <C>
2,568 Rayonier, Inc................................. $ 92,127
2,900 Rayovac Corp./(a)/............................ 64,887
1,324 Razorfish, Inc./(a)/.......................... 21,267
2,200 Realty Income Corp............................ 51,837
4,290 Reckson Associates Realty
Corp........................................ 101,888
4,000 Reebok International Ltd./(a)/................ 63,750
1,700 Regal-Beloit Corp............................. 27,094
2,800 Regency Realty Corp........................... 66,500
1,400 Regeneron Pharmaceuticals,
Inc./(a)/................................... 41,738
2,300 Regent Communications,
Inc./(a)/................................... 19,766
3,725 Regis Corp.................................... 46,562
300 Register.com, Inc./(a)/....................... 9,169
700 RehabCare Group, Inc./(a)/.................... 19,075
6,613 Reliance Group Holdings, Inc.................. 4,960
1,550 Reliance Steel & Aluminum Co.................. 29,644
2,232 Remec, Inc./(a)/.............................. 93,465
2,100 Remedy Corp./(a)/............................. 117,075
4,446 Renal Care Group, Inc./(a)/................... 108,719
1,306 Rent-A-Center, Inc./(a)/...................... 29,385
1,961 Rent-Way, Inc./(a)/........................... 57,237
4,548 Republic Bancorp, Inc......................... 40,648
5,342 Republic Security Financial
Corp........................................ 26,710
1,919 Res-Care, Inc./(a)/........................... 10,315
841 Research Frontiers Inc./(a)/.................. 25,230
2,500 ResMed, Inc./(a)/............................. 66,875
2,737 Respironics, Inc./(a)/........................ 49,266
1,900 RFS Hotel Investors, Inc...................... 22,325
3,300 RGS Energy Group, Inc......................... 73,425
5,900 Rhythms NetConnections,
Inc./(a)/................................... 74,119
900 Ribozyme Pharmaceuticals,
Inc./(a)/................................... 23,231
374 Rica Foods, Inc./(a)/......................... 8,766
3,029 Richmond County Financial
Corp........................................ 57,930
2,474 Riggs National Corp........................... 31,234
900 Riviana Foods, Inc............................ 15,694
650 RLI Corp...................................... 22,587
1,500 Roadway Express, Inc.......................... 35,156
900 Robbins & Myers, Inc.......................... 20,531
3,179 Robotic Vision Systems, Inc./(a)/............. 57,222
1,200 Rock-Tenn Co. - Class A....................... 10,275
1,300 Rogers Corp./(a)/............................. 45,500
3,800 Rollins Truck Leasing Corp.................... 26,363
1,300 Rollins, Inc.................................. 19,338
2,560 Roper Industries, Inc......................... 65,600
4,783 Roslyn Bancorp, Inc........................... 79,443
1,700 RPC, Inc...................................... 17,956
7,362 RPM, Inc...................................... 74,540
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
21
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Schedule of Investments June 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
Shares Description Value
<C> <S> <C>
1,100 RTI International Metals,
Inc./(a)/................................... $ 12,513
5,000 Ruby Tuesday, Inc............................. 62,813
2,400 Ruddick Corp.................................. 28,350
600 Rudolph Technologies, Inc./(a)/............... 23,250
748 Rural Cellular Corp./(a)/..................... 57,269
800 Russ Berrie & Co., Inc........................ 15,400
2,200 Russell Corp.................................. 44,000
2,700 Ryan's Family Steak Houses,
Inc./(a)/................................... 22,781
4,398 Ryder System, Inc............................. 83,287
1,288 Ryerson Tull, Inc. - Class A.................. 13,363
1,468 Ryland Group, Inc............................. 32,480
2,160 S&T Bancorp, Inc.............................. 39,420
7,500 S3, Inc./(a)/................................. 110,625
1,776 SBA Communications Corp./(a)/................. 92,241
654 SBS Technologies, Inc./(a)/................... 24,157
1,400 Sabratek Corp./(a)/........................... 49
700 Saga Communications, Inc. -
Class A/(a)/................................ 15,400
2,360 SAGA Systems, Inc./(a)/....................... 29,352
1,961 Sagent Technology, Inc./(a)/.................. 27,944
2,618 Salem Communications
Corp./(a)/.................................. 24,298
1,082 Salton, Inc./(a)/............................. 39,899
1,028 Sanchez Computer Associates,
Inc./(a)/................................... 24,415
900 Sandy Spring Bancorp, Inc..................... 18,394
1,661 SangStat Medical Corp./(a)/................... 47,961
1,715 Sanmina Corp./(a)/............................ 146,633
500 Santander BanCorp............................. 6,375
841 SatCon Technology Corp./(a)/.................. 21,498
900 Sauer, Inc.................................... 8,888
800 Saul Centers, Inc............................. 12,900
900 SAVVIS Communications
Corp./(a)/.................................. 11,756
700 Schein Pharmaceutical, Inc./(a)/.............. 15,137
2,898 SciClone Pharmaceuticals,
Inc./(a)/................................... 37,493
1,900 SciQuest.com, Inc./(a)/....................... 21,731
1,483 Scholastic Corp./(a)/......................... 90,648
2,000 School Speciality, Inc./(a)/.................. 37,125
3,700 Schulman, Inc................................. 44,631
1,300 Schweitzer-Mauduit
International, Inc.......................... 16,250
1,200 Scientific Games Holdings
Corp./(a)/.................................. 29,475
1,061 SCM Microsystems, Inc./(a)/................... 64,257
1,100 Scott Technologies, Inc. -
Class A/(a)/................................ 18,906
1,825 Scotts Co. (The) - Class A/(a)/............... 66,613
1,750 SCP Pool Corp./(a)/........................... 41,125
812 SCPIE Holdings, Inc........................... 16,646
<CAPTION>
Shares Description Value
<C> <S> <C>
1,700 SeaChange International,
Inc./(a)/................................... $ 49,087
2,000 Seacoast Financial Services
Corp........................................ 19,000
1,350 SEACOR SMIT, Inc./(a)/........................ 52,228
2,337 Secure Computing Corp./(a)/................... 43,965
3,500 Security Capital Group, Inc. -
Class B/(a)/................................ 59,500
2,600 Seitel, Inc./(a)/............................. 21,125
300 Selectica, Inc./(a)/.......................... 21,019
2,100 Selective Insurance Group, Inc................ 39,900
1,405 SEMCO Energy, Inc............................. 18,265
1,700 Semitool, Inc./(a)/........................... 29,431
5,982 Sensormatic Electronics
Corp./(a)/.................................. 94,590
800 Sequa Corp. - Class A/(a)/.................... 30,550
600 Sequenom Inc./(a)/............................ 27,225
700 Sequoia Software Corp./(a)/................... 11,462
1,326 SERENA Software, Inc./(a)/.................... 60,209
21,344 Service Corporation
International/(a)/.......................... 68,034
2,790 ShopKo Stores, Inc./(a)/...................... 42,896
30 Shoreline Financial Corp...................... 356
2,400 Shurgard Storage Centers,
Inc. - Class A.............................. 54,000
4,600 SICOR Inc./(a)/............................... 36,800
8,020 Sierra Pacific Resources...................... 100,751
14,500 Silicon Graphics, Inc./(a)/................... 54,375
1,200 Silicon Image, Inc./(a)/...................... 59,850
3,766 Silicon Valley Bancshares/(a)/................ 160,526
3,009 Silicon Valley Group, Inc./(a)/............... 77,858
900 SilverStream Software, Inc./(a)/.............. 51,975
700 Simpson Manufacturing Co.,
Inc./(a)/................................... 33,469
4,718 Sinclair Broadcast Group,
Inc./(a)/................................... 51,898
2,206 SIPEX Corp./(a)/.............................. 61,079
2,661 Sirius Satellite Radio, Inc./(a)/............. 117,916
3,500 SITEL Corp./(a)/.............................. 17,500
200 SJW Corp...................................... 23,775
1,589 Skechers U.S.A., Inc./(a)/.................... 25,126
6,503 Sky Financial Group, Inc...................... 103,642
800 Skyline Corp.................................. 17,200
2,268 Skywest, Inc.................................. 84,058
1,720 SL Green Realty Corp.......................... 46,010
1,505 SLI, Inc./(a)/................................ 18,248
400 Smart & Final, Inc............................ 3,075
400 SmartDisk Corp./(a)/.......................... 11,000
400 SmartServ Online, Inc./(a)/................... 28,225
1,612 Smith (Charles E.) Residential
Realty, Inc................................. 61,256
5,030 Smithfield Foods, Inc./(a)/................... 141,154
1,900 Smucker (J.M.) Co. - Class A.................. 36,575
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
22
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Schedule of Investments June 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
Shares Description Value
<C> <S> <C>
5,420 Snap-on Inc................................... $ 144,307
2,148 Sodexho Marriott Services,
Inc......................................... 37,321
2,900 SoftNet Systems, Inc./(a)/.................... 27,913
8,436 Solutia, Inc.................................. 115,995
1,963 Somera Communications,
Inc./(a)/................................... 26,746
935 Sonic Automotive, Inc./(a)/................... 9,993
1,740 Sonic Corp./(a)/.............................. 51,113
1,100 Sonic Foundry, Inc./(a)/...................... 22,000
700 Sonic Innovations, Inc./(a)/.................. 12,994
1,000 SonicWALL, Inc./(a)/.......................... 88,062
1,028 SonoSite, Inc./(a)/........................... 29,619
3,083 Sotheby's Holding, Inc. -
Class A..................................... 53,953
600 South Jersey Industries, Inc.................. 16,013
1,960 Southern Peru Copper Corp..................... 23,888
3,129 Southern Union Co./(a)/....................... 49,477
3,200 Southwest Bancorp of
Texas/(a)/.................................. 66,400
2,512 Southwest Gas Corp............................ 43,960
1,100 Southwest Securities Group,
Inc......................................... 40,975
1,900 Southwestern Energy Co........................ 11,875
19,400 Sovereign Bancorp, Inc........................ 136,406
900 Sovran Self Storage, Inc...................... 19,294
2,898 Spanish Broadcasting
System, Inc./(a)/........................... 59,590
1,300 Spartech Corp................................. 35,100
1,400 SpectraLink Corp./(a)/........................ 20,475
1,000 Specialty Equipment Cos.,
Inc./(a)/................................... 27,125
200 Spectra-Physics Lasers, Inc./(a)/............. 13,987
2,564 SpeedFam-IPEC, Inc./(a)/...................... 46,633
754 Speedway Motorsports, Inc./(a)/............... 17,342
2,047 Spiegel - Class A/(a)/........................ 17,400
280 Spinnaker Exploration Co./(a)/................ 7,175
1,961 Sportsline USA, Inc./(a)/..................... 33,460
1,503 Springs Industries, Inc. -
Class A..................................... 48,378
1,000 SPS Technologies, Inc./(a)/................... 41,063
700 SPSS, Inc./(a)/............................... 20,388
1,383 Spyglass, Inc./(a)/........................... 43,305
1,500 St. Mary Land & Exploration Co................ 63,094
3,123 StanCorp Financial Group, Inc................. 100,326
1,100 Standard Register Co.......................... 15,675
2,200 Standard-Pacific Corp......................... 22,000
1,100 Standex International Corp.................... 17,462
1,800 STAAR Surgical Co./(a)/....................... 20,137
3,200 Stamps.com, Inc./(a)/......................... 23,400
561 Standard Microsystems
Corp./(a)/.................................. 8,625
600 Stanford Microdevices, Inc./(a)/.............. 26,062
<CAPTION>
Shares Description Value
<C> <S> <C>
4,020 StarBase Corp./(a)/........................... $ 42,712
3,311 StarMedia Network, Inc./(a)/.................. 62,495
625 StarTek, Inc./(a)/............................ 31,484
900 State Auto Financial Corp..................... 10,688
3,000 Staten Island Bancorp, Inc.................... 52,875
2,382 Station Casinos, Inc./(a)/.................... 59,550
4,730 Steel Dynamics, Inc./(a)/..................... 42,866
3,096 Stein Mart, Inc./(a)/......................... 31,734
500 Stephan Chemical Co........................... 11,625
1,619 Stericycle, Inc./(a)/......................... 38,856
5,568 STERIS Corp./(a)/............................. 49,416
2,050 Sterling Bancshares, Inc...................... 22,166
3,300 Stewart & Stevenson
Services, Inc............................... 49,706
6,000 Stewart Enterprises, Inc. -
Class A..................................... 21,187
800 Stewart Information
Services Corp............................... 11,700
3,725 Stillwater Mining Co./(a)/.................... 103,834
1,382 Stone Energy Corp./(a)/....................... 82,575
1,100 Stoneridge, Inc./(a)/......................... 9,625
2,300 Storage USA, Inc.............................. 67,850
7,333 Storage Technology Corp/(a)/.................. 80,205
860 Strayer Education, Inc........................ 20,640
3,200 Stride Rite Corp.............................. 19,600
3,074 Structural Dynamics
Research Corp./(a)/......................... 46,302
300 Student Loan Corp............................. 12,600
1,400 Sturm Ruger & Co., Inc........................ 12,425
2,647 Suiza Foods Corp./(a)/........................ 129,372
2,500 Summit Properties, Inc........................ 52,500
3,883 Summit Technology, Inc./(a)/.................. 73,292
1,400 Sun Communities, Inc.......................... 46,813
7,782 Sunbeam Corp./(a)/............................ 26,751
1 Sunburst Hospitality Corp./(a)/............... 4
4,183 Sunglass Hut International/(a)/............... 34,379
1,525 Sunrise Assisted Living, Inc./(a)/............ 28,213
4,582 Sunrise Technologies
International, Inc./(a)/.................... 45,820
1,700 Superconductor Technologies
Inc......................................... 66,831
2,183 SuperGen, Inc./(a)/........................... 79,134
4,301 Superior Energy Services, Inc./(a)/........... 44,623
1,600 Superior Industries
International, Inc.......................... 41,200
1,900 Superior National Insurance
Group, Inc./(a)/............................ 38
1,504 Superior Telecommunications,
Inc......................................... 14,946
748 Supertex, Inc./(a)/........................... 37,587
3,200 Susquehanna Bancshares, Inc................... 45,600
1,900 SVI Holdings, Inc./(a)/....................... 9,738
2,120 Swift Energy Co./(a)/......................... 60,155
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
23
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Schedule of Investments June 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
Shares Description Value
<C> <S> <C>
3,225 Swift Transportation Co.,
Inc./(a)/................................... $ 45,150
841 Switchboard Inc./(a)/......................... 8,410
1,800 Sykes Enterprises, Inc./(a)/.................. 23,175
3,200 Sylvan Learning Systems,
Inc./(a)/................................... 44,000
1,589 SymmetriCom, Inc./(a)/........................ 40,122
1,870 Symyx Technologies/(a)/....................... 79,680
961 Syncor International Corp./(a)/............... 69,192
300 Syntel, Inc./(a)/............................. 3,000
2,700 Syntroleum Corp./(a)/......................... 46,238
2,800 Systemax, Inc./(a)/........................... 10,850
2,619 Systems & Computer
Technology Corp./(a)/....................... 52,380
2,400 Take-Two Interactive
Software, Inc./(a)/......................... 29,100
4,141 TALK.com/(a)/................................. 24,070
800 Tanger Factory Outlet
Centers, Inc................................ 18,800
800 Tanning Technology Corp./(a)/................. 15,400
2,618 Targeted Genetics Corp./(a)/.................. 38,943
2,700 Taubman Centers, Inc.......................... 29,700
8,200 Technicione Corp./(a)/........................ 31,775
1,000 Technitrol, Inc............................... 96,875
4,961 Technology Solutions/(a)/..................... 30,696
1,141 Tecumseh Products Co. -
Class A..................................... 43,572
500 Tejon Ranch Co.,.............................. 11,281
1,600 TelCom Semiconductor, Inc./(a)/............... 64,600
1,822 Teledyne Technologies, Inc./(a)/.............. 30,519
2,876 Teleflex, Inc................................. 106,592
500 Telexis Communications Corp./(a)/............. 15,625
1,400 Teligent, Inc. - Class A/(a)/................. 33,075
1,589 Telxon Corp./(a)/............................. 28,403
1,400 TenFold Corp./(a)/............................ 23,012
700 Tennant Co.................................... 26,250
4,105 Tenneco Automotive, Inc....................... 21,551
2,168 Terex Corp./(a)/.............................. 30,623
8,882 Terremark Worldwide, Inc./(a)/................ 43,855
2,555 Tesoro Petroleum Corp./(a)/................... 25,869
3,433 TETRA Technologies, Inc./(a)/................. 78,530
3,646 Texas Biotechnology Corp./(a)/................ 69,274
1,747 Texas Industries, Inc......................... 50,445
1,100 Texas Regional Bancshares,
Inc. - Class A.............................. 27,913
3,200 The 3DO Co./(a)/.............................. 25,100
4,503 The Boyds Collection Ltd./(a)/................ 38,275
1,100 The Cato Corp. - Class A...................... 12,788
2,100 The Cheesecake Factory, Inc./(a)/............. 57,750
900 The Cherry Corp./(a)/......................... 23,681
1,800 The Children's Place Retail
Stores, Inc./(a)/........................... 36,900
7,510 The Colonial BancGroup, Inc................... 72,284
<CAPTION>
Shares Description Value
<C> <S> <C>
900 The Corporate Executive
Board Co./(a)/.............................. $ 53,888
6,900 The Dial Corp................................. 71,588
5,892 The FINOVA Group, Inc......................... 76,596
1,000 The Genlyte Group, Inc./(a)/.................. 21,063
2,700 The Immune Response
Corp./(a)/.................................. 29,362
935 The InterCept Group, Inc./(a)/................ 15,895
3,850 The Lubrizol Corp............................. 80,850
3,012 The Macerich Co............................... 66,452
1,235 The McClatchy Co. - Class A................... 40,909
3,192 The Men's Wearhouse, Inc./(a)/................ 71,222
400 The Midland Co................................ 9,800
3,592 The Neiman Marcus Group,
Inc......................................... 108,434
3,800 The Pep Boys - Manny,
Moe & Jack.................................. 22,800
883 The Robert Mondavi Corp. -
Class A/(a)/................................ 27,097
1,400 The Shaw Group Inc./(a)/...................... 65,975
1,503 The Source Information
Management Co./(a)/......................... 22,921
4,122 The South Financial Group, Inc................ 59,769
4,275 The Timken Co................................. 79,622
4,696 The Topps Co., Inc./(a)/...................... 54,004
1,500 The TriZetto Group, Inc./(a)/................. 24,281
3,583 The Valspar Corp.............................. 120,926
5,659 The Warnaco Group, Inc........................ 43,857
748 The Yankee Candle Co., Inc./(a)/.............. 16,175
2,100 Theragenics Corp./(a)/........................ 17,981
1,800 Three-Five Systems, Inc./(a)/................. 106,200
700 Therma-Wave Inc./(a)/......................... 15,619
1,600 Thermedics, Inc./(a)/......................... 15,900
1,100 Thermo Cardiosystems, Inc./(a)/............... 11,000
800 Thermo Ecotek Corp./(a)/...................... 7,500
900 Thermo Fibertek, Inc./(a)/.................... 4,275
1,300 Thomas Industries, Inc........................ 22,994
841 Thoratec Laboratories Corp./(a)/.............. 13,614
600 Thor Industries, Inc.......................... 12,600
2,465 THQ, Inc./(a)/................................ 30,042
750 Three Rivers Bancorp, Inc..................... 4,922
2,100 Ticketmaster Online-City
Search, Inc. - Class B/(a)/................. 33,469
900 Timberland Co., Class A/(a)/.................. 63,731
1,683 Titan Pharmaceuticals, Inc./(a)/.............. 72,369
1,600 TiVo Inc./(a)/................................ 56,000
1,777 Toll Brothers, Inc./(a)/...................... 36,429
900 Tollgrade Communications,
Inc./(a)/................................... 119,250
2,944 Too Inc./(a)/................................. 74,888
1,400 Toro Co....................................... 46,112
7,601 Total Renal Care Holdings/(a)/................ 45,606
3,390 Tower Automotive, Inc./(a)/................... 42,375
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
24
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Schedule of Investments June 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
Shares Description Value
<C> <S> <C>
1,400 Town & Country Trust.......................... $ 24,063
2,100 Trammel Crow Co./(a)/......................... 22,575
3,409 Trans World Entertainment
Corp./(a)/.................................. 41,334
3,206 Transaction Systems
Architechure, Inc. -
Class A/(a)/................................ 54,903
1,945 Transkaryotic Therapies, Inc./(a)/............ 71,479
2,100 TransMontaigne Oil Co./(a)/................... 12,863
1,400 Travelocity.com Inc./(a)/..................... 22,925
1,755 Tredegar Industries, Inc...................... 33,345
400 Trendwest Resorts, Inc./(a)/.................. 6,450
1,200 Trenwick Group, Inc........................... 17,475
700 Trex Company, Inc./(a)/....................... 35,000
1,000 Triad Guaranty, Inc./(a)/..................... 22,937
3,340 Triad Hospitals, Inc./(a)/.................... 80,786
3,300 Triangle Pharmaceuticals, Inc./(a)/........... 29,906
1,200 Triarc Cos., Inc./(a)/........................ 24,600
2,431 Trico Marine Services, Inc./(a)/.............. 30,995
1,683 Tricord Systems, Inc./(a)/.................... 30,399
1,806 Trimble Navigation Ltd./(a)/.................. 88,155
1,402 Trimeris, Inc./(a)/........................... 98,052
3,312 Trinity Industries, Inc....................... 61,272
900 Triumph Group, Inc./(a)/...................... 25,088
1,300 Trust Co. of New Jersey....................... 23,725
4,364 Trustco Bank Corp............................. 54,550
4,385 Trustmark Corp................................ 76,463
1,300 Tucker Anthony Sutro Corp..................... 23,400
800 Tuesday Morning Corp./(a)/.................... 8,400
1,100 Tularik Inc./(a)/............................. 32,450
900 Tumbleweed Communications
Corp./(a)/.................................. 45,788
5,590 Tupperware Corp............................... 122,980
1,383 Tut Systems, Inc./(a)/........................ 79,350
1,666 Tweeter Home Entertainment
Group, Inc./(a)/............................ 50,605
1,600 Twinlab Corp./(a)/............................ 10,200
800 U.S. Can Corp./(a)/........................... 13,900
6,014 U.S. Industries, Inc.......................... 72,920
2,000 U.S. Interactive, Inc./(a)/................... 25,875
8,034 U.S. Oncology, Inc./(a)/...................... 40,170
1,100 U.S. Wireless Corp./(a)/...................... 23,513
625 U.S.B. Holding Co., Inc....................... 8,828
3,898 UCAR International, Inc./(a)/................. 50,918
1,309 UCBH Holdings, Inc............................ 34,934
2,313 UGI Corp...................................... 47,416
3,500 UICI/(a)/..................................... 22,969
2,428 Ultratech Stepper, Inc./(a)/.................. 36,117
1,000 Ultimate Electronics, Inc./(a)/............... 26,797
1,426 UMB Financial Corp............................ 46,791
4,782 Unifi, Inc./(a)/.............................. 59,177
2,100 Unify Corp./(a)/.............................. 17,981
400 Unigraphics Solutions, Inc./(a)/.............. 7,800
<CAPTION>
Shares Description Value
<C> <S> <C>
1,600 Uniroyal Technology Corp./(a)/................ $ 17,700
2,800 Unisource Energy Corp./(a)/................... 42,000
1,870 Unit Corp./(a)/............................... 25,245
5,033 United Asset Management
Corp........................................ 117,646
1,600 United Auto Group, Inc./(a)/.................. 14,600
3,727 United Bankshares, Inc........................ 67,785
2,742 United Community Financial
Corp........................................ 18,251
8,604 United Dominion Realty
Trust, Inc.................................. 94,644
1,000 United Illuminating Co........................ 43,750
1,193 United National Bancorp....................... 21,921
1,200 United Natural Foods, Inc./(a)/............... 16,500
3,205 United Rentals, Inc./(a)/..................... 54,886
3,251 United Stationers, Inc./(a)/.................. 105,251
300 United Television, Inc........................ 38,625
1,028 United Therapeutics Corp./(a)/................ 111,410
2,282 United Water Resources, Inc................... 79,585
700 Universal Access, Inc./(a)/................... 17,150
900 Universal Compression
Holdings, Inc./(a)/......................... 30,150
3,068 Universal Corp................................ 64,812
1,215 Universal Display Corp./(a)/.................. 36,070
841 Universal Electronics Inc./(a)/............... 20,657
4,733 Universal Foods Corp.......................... 87,561
1,300 Universal Forest Products, Inc................ 17,875
3,600 UNOVA, Inc./(a)/.............................. 26,325
800 Urban Shopping Centers, Inc................... 26,950
1,000 URS Corp./(a)/................................ 15,250
1,160 US LEC Corp. - Class A/(a)/................... 19,720
10,233 USEC, Inc..................................... 47,328
2,251 USFreightways Corp............................ 55,290
1,100 UTI Energy Corp./(a)/......................... 44,137
1,800 Vail Resorts, Inc./(a)/....................... 29,363
2,383 Valence Technology, Inc./(a)/................. 43,937
1,870 Valentis, Inc./(a)/........................... 21,973
1,400 Valmont Industries, Inc....................... 27,825
700 Value City Department
Stores, Inc./(a)/........................... 6,650
400 Value Line, Inc............................... 15,400
3,400 ValueVision International, Inc./(a)/.......... 81,600
2,728 Varian, Inc./(a)/............................. 125,829
2,600 Varian Medical Systems, Inc./(a)/............. 101,725
2,606 Varian Semiconductor
Equipment Associates, Inc./(a)/............. 163,689
3,200 Vasomedical, Inc./(a)/........................ 15,100
5,132 Vectren Corp.................................. 88,527
935 Vector Group Ltd.............................. 13,791
2,000 Veeco Instruments, Inc./(a)/.................. 146,500
11,071 Venator Group, Inc............................ 113,478
996 Ventana Medical Systems, Inc./(a)/............ 23,406
2,800 Ventas, Inc................................... 8,925
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
25
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Schedule of Investments June 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
Shares Description Value
<C> <S> <C>
2,100 Ventro Corp./(a)/............................. $ 39,637
2,200 Veritas DGC, Inc./(a)/........................ 57,200
2,617 Verity, Inc./(a)/............................. 99,446
2,700 Vertel Corp./(a)/............................. 47,250
1,800 Veterinary Centers of America,
Inc./(a)/................................... 24,750
1,122 Viador Inc./(a)/.............................. 17,812
3,100 Viant Corp./(a)/.............................. 91,838
1,028 VIA NET.WORKS, Inc./(a)/...................... 15,870
800 ViaSat, Inc./(a)/............................. 43,400
3,500 Viasystems Group, Inc./(a)/................... 56,656
4,436 Viatel, Inc./(a)/............................. 126,703
1,661 Vical, Inc./(a)/.............................. 31,974
1,674 Vicor Corp./(a)/.............................. 58,276
3,790 Vintage Petroleum, Inc........................ 85,512
2,061 Visual Networks, Inc./(a)/.................... 58,738
4,600 VISX, Inc./(a)/............................... 129,087
900 Vital Signs, Inc.............................. 16,312
3,700 VIVUS, Inc./(a)/.............................. 25,669
700 Volt Information Sciences, Inc./(a)/.......... 23,056
800 Vyyo Inc./(a)/................................ 21,600
3,200 W Holding Co., Inc............................ 26,400
5,596 W.R. Grace & Co./(a)/......................... 67,852
2,900 Wabash National Corp.......................... 34,619
3,471 Wabtec Corp................................... 36,012
1,000 Wackenhut Corp. - Class A..................... 12,937
3,371 Wallace Computer Services,
Inc......................................... 33,289
3,500 Walter Industries, Inc........................ 40,031
5,132 Washington Federal, Inc....................... 93,659
4,790 Washington Gas Light Co....................... 115,259
2,900 Washington Real Estate
Investment Trust............................ 51,837
1,800 Waste Connections, Inc./(a)/.................. 35,550
1,000 WatchGuard Technologies,
Inc./(a)/................................... 54,938
1,353 Watsco, Inc. - Class A........................ 16,913
1,380 Watts Industries Inc. -
Class A..................................... 17,423
4,480 Wausau-Mosinee Paper Co....................... 38,360
4,119 Wave Systems Corp. -
Class A/(a)/................................ 65,132
1,000 WD-40 Co...................................... 20,750
4,800 WebLink Wireless, Inc./(a)/................... 63,600
4,107 Webster Financial Corp........................ 91,124
1,200 WebTrends Corp./(a)/.......................... 46,425
2,200 Weingarten Realty, Inc........................ 88,825
2,900 Wellman, Inc.................................. 46,944
2,500 Werner Enterprises, Inc....................... 28,906
1,600 WesBanco, Inc................................. 38,800
2,277 WESCO International, Inc./(a)/................ 21,774
1,074 Wesley Jessen VisionCare/(a)/................. 40,342
<CAPTION>
Shares Description Value
<C> <S> <C>
936 West Pharmaceutical Services,
Inc......................................... $ 20,241
3,761 Westamerica Bankcorp.......................... 98,256
1,080 Westcorp, Inc................................. 12,893
1,509 Westell Technologies/(a)/..................... 22,635
12,900 Western Digital Corp./(a)/.................... 64,500
2,200 Western Gas Resources, Inc.................... 46,200
2,000 Western Properties Trust...................... 23,750
7,100 Western Resources, Inc........................ 110,050
2,300 Westfield America, Inc........................ 31,194
2,222 WestPoint Stevens, Inc........................ 24,720
400 WFS Financial, Inc............................ 6,900
100 White Mountain Insurance
Group Inc................................... 16,000
1,259 Whitehall Jewellers, Inc./(a)/................ 23,449
2,100 Whitney Holding Corp.......................... 71,794
2,200 Whole Foods Market, Inc./(a)/................. 90,888
2,389 Wild Oats Market, Inc./(a)/................... 30,012
1,700 Wink Communications, Inc./(a)/................ 51,850
1,147 Winnebago Industries.......................... 14,983
6,545 Wit Soundview Group, Inc./(a)/................ 70,256
5,064 Wisconsin Central
Transportation Corp./(a)/................... 65,832
2,600 WMS Industries, Inc./(a)/..................... 40,138
900 Wolverine Tube, Inc./(a)/..................... 15,300
3,200 Wolverine World Wide, Inc..................... 31,600
467 Woodhead Industries, Inc...................... 8,523
600 Woodward Governor Co.......................... 16,987
5,900 World Access, Inc. /(a)/...................... 65,269
1,351 WorldGate Communications,
Inc./(a)/................................... 23,980
2,300 WorldPages.com, Inc./(a)/..................... 13,800
1,122 World Wrestling Federation
Entertainment, Inc./(a)/.................... 23,352
6,232 Worthington Industries, Inc................... 65,436
1,900 WPS Resources Corp............................ 57,119
9,300 Wyndham International, Inc. -
Class A/(a)/................................ 23,250
1,200 Wynn's International, Inc..................... 27,225
1,300 XM Satellite Radio Holdings
Inc./(a)/................................... 48,669
1,761 Xceed, Inc./(a)/.............................. 16,069
2,300 Xircom, Inc./(a)/............................. 109,250
1,100 Xtra Corp..................................... 43,381
3,200 Xybernaut Corp./(a)/.......................... 35,800
2,100 Yellow Corp./(a)/............................. 30,975
3,683 York International Corp....................... 96,218
1,061 Young Broadcasting Corp. -
Class A/(a)/................................ 27,254
1,000 Z-Tel Technologies, Inc./(a)/................. 12,000
2,889 Zale Corp./(a)/............................... 105,449
2,506 Zebra Technologies Corp. -
Class A/(a)/................................ 111,047
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
26
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Schedule of Investments June 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
Shares Description Value
<C> <S> <C>
700 Zenith National Insurance Corp................ $ 14,875
2,400 Ziff-Davis, Inc./(a)/......................... 21,600
1,561 ZixIt Corp./(a)/.............................. 71,904
900 Zoll Medical Corp./(a)/....................... 44,100
2,956 Zomax, Inc./(a)/.............................. 38,798
1,300 Zoran Corp./(a)/.............................. 85,719
1,122 Zygo Corp./(a)/............................... 101,892
-----------
Total Common Stocks
(Cost $85,867,125)........................................ 84,981,185
-----------
PREFERRED STOCKS - 0.00%
30 Mediq, Inc.................................... 1
900 O'Sullivan Industries, Holdings............... 450
-----------
Total Preferred Stocks
(Cost $953)............................................... 451
-----------
<CAPTION>
Principal
Amount Description Value
<C> <S> <C>
Short term instruments - 7.24%
U.S. TREASURY BILL/(c)/ - 7.24%
$ 520,000 5.48%, 7/13/2000/(b)/......................... $ 519,067
132,000 5.74%, 8/24/2000.............................. 130,881
1,967,000 5.75%, 10/5/2000.............................. 1,937,515
3,835,000 5.82%, 10/19/2000............................. 3,768,846
-----------
Total Short Term Instruments
(Cost $6,355,204)......................................... 6,356,309
-----------
Total Investments
(Cost $92,223,282)............................. 104.09% 91,337,945
Liabilities in Excess of
Other Assets................................ (4.09) (3,586,307)
------ -----------
Net Assets................................... 100.00% $87,751,638
====== ===========
</TABLE>
--------------------------------------------------------------------------------
/(a)/ Non-income producing security.
/(b)/ Held for collateral for futures contracts.
/(c)/ Rates shown represent effective yield at time of purchase.
/(d)/ Security is currently fair valued at June 30, 2000, the total value of
fair valued securities of the Deutsche VIT Small Cap Index was $0
representing 0% of total investments.
ADR American Depository Receipt.
See Notes to Financial Statements.
--------------------------------------------------------------------------------
27
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Statement of Assets and Liabilities (Unaudited)
<TABLE>
<CAPTION>
June 30,
2000
<S> <C>
Assets:
Investments at Value (cost $92,223,282)................................... $ 91,337,945
Receivable for Investment Securities Sold................................. 26,398,113
Interest and Dividends Receivable......................................... 69,063
Due from Investment Advisor............................................... 10,462
Variation Margin Receivable for Futures Contracts......................... 71,782
Deferred Organizational Costs and Other Assets............................ 8,970
------------
Total Assets............................................................... 117,896,335
------------
Liabilities:
Payable for Investment Securities Purchased............................... 30,034,526
Administration Fee Payable................................................ 4,548
Trustees Fee Payable...................................................... 3,525
Other Accrued Expenses & Liabilities...................................... 102,098
------------
Total Liabilities.......................................................... 30,144,697
------------
Net Assets................................................................. $ 87,751,638
------------
Composition of Net Assets:
Paid-in-Capital......................................................... $ 81,862,188
Undistributed Net Investment Income..................................... 308,391
Accumulated Net Realized Gain on Investments and Futures Transactions... 6,443,230
Net Unrealized Appreciation on Investments and Futures Contracts........ (862,171)
------------
Net Assets................................................................. $ 87,751,638
============
Shares Outstanding ($0.001 par value per share,
unlimited number of shares of beneficial interest authorized)............. 7,379,185
============
Net Asset Value, Offering and Redemption Price Per Share
(net assets divided by shares outstanding)................................ $ 11.89
============
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
28
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Statement of Operations (Unaudited)
<TABLE>
<CAPTION>
For the Six
Months Ended
June 30, 2000
<S> <C>
Investment Income:
Interest.......................................................................... $ 68,205
Dividends......................................................................... 400,551
-----------
Total Investment Income............................................................ 468,756
-----------
Expenses:
Advisory Fees..................................................................... 124,776
Administration and Accounting Fees................................................ 66,380
Custodian Fees.................................................................... 58,588
Printing Fees..................................................................... 19,501
Professional Fees................................................................. 7,479
Trustees Fees..................................................................... 6,254
Transfer Agent Fees............................................................... 4,733
Amortization of Organizational Costs.............................................. 2,078
Registration and Filing Fees...................................................... 494
Other............................................................................. 428
-----------
Total Expenses..................................................................... 290,711
Less Fee Waivers or Expense Reimbursement.......................................... (130,346)
-----------
Total Expenses Net of Fee Waivers or Expense Reimbursement......................... 160,365
-----------
Net Investment Income.............................................................. 308,391
-----------
Net Realized and Unrealized Gain (Loss) on Investments and Futures Contracts:
Net Realized Gain on Investment Transactions...................................... 6,983,067
Net Realized Loss on Futures Transactions......................................... (669,354)
Net Change in Unrealized Appreciation/Depreciation on Investment Transactions..... (5,932,592)
Net Change in Unrealized Appreciation/Depreciation on Futures Contracts........... 1,291
-----------
Net Realized and Unrealized Gain onInvestments and Future Contracts................ 382,412
-----------
Net Increase in Net Assets from Operations......................................... $ 690,803
===========
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
29
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Statements of Changes in Net Assets
<TABLE>
<CAPTION>
For the
Six Months Ended For the
June 30, 2000 Year Ended
(unaudited) December 31, 1999
<S> <C> <C>
Increase (Decrease) in Net Assets from:
Operations
Net Investment Income............................................................ $ 308,391 $ 426,899
Net Realized Gain from Investments and Futures Transactions...................... 6,313,713 1,423,469
Net Change in Unrealized Appreciation/Depreciation on
Investments and Futures Contracts............................................... (5,931,301) 5,984,183
----------- -----------
Net Increase in Net Assets from Operations........................................ 690,803 7,834,551
----------- -----------
Distributions to Shareholders
Net Investment Income............................................................ -- (533,645)
Net Realized Gain on Investments................................................. -- (1,527,663)
----------- -----------
Total Distributions............................................................... -- (2,061,308)
----------- -----------
Capital Share Transactions
Proceeds from Sales of Shares.................................................... 56,252,495 28,880,015
Issued to Shareholders in Reinvestment of Distributions.......................... -- 2,061,309
Cost of Shares Repurchased....................................................... (24,750,939) (17,899,047)
----------- -----------
Net Increase in Net Assets from Capital Share Transactions........................ 31,501,556 13,042,277
----------- -----------
Total Increase in Net Assets...................................................... 32,192,359 18,815,520
Net Assets:
Beginning of Period.............................................................. 55,559,279 36,743,759
----------- -----------
End of Period.................................................................... $87,751,638 $55,559,279
=========== ===========
</TABLE>
See Notes to Financial Statements.
--------------------------------------------------------------------------------
30
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Financial Highlights
Contained below are selected data for a share outstanding, total investment
return, ratios to average net assets and other supplemental data for the periods
indicated for Deutsche VIT Small Cap Index.
<TABLE>
<CAPTION>
Six Months For the Period
Ended June Year Ended Year Ended Aug. 25, 1997/1/
30, 2000 December December through
(unaudited) 31, 1999 31, 1998 Dec. 31, 1997
<S> <C> <C> <C> <C>
Per Share Operating Performance:
Net Asset Value, Beginning of Period............ $ 11.61 $ 10.06 $ 10.51 $ 10.00
--------- --------- --------- -----------
Income (Loss) from Investment Operations:
Net Investment Income.......................... 0.03 0.09 0.06 0.03/2/
Net Realized and Unrealized Gain (Loss) on
Investments and Futures Contracts............. 0.25 1.92 (0.30) 0.48
--------- --------- --------- -----------
Total from Investment Operations................ 0.28 2.01 (0.24) 0.51
--------- --------- --------- -----------
Less Distributions:
Net Investment Income.......................... -- (0.12) (0.05) --
Net Realized Gain from Investment
and Futures Transactions...................... -- (0.34) (0.16) --
--------- --------- --------- -----------
Total Distributions............................. -- (0.46) (0.21) --
--------- --------- --------- -----------
Net Asset Value, End of Period.................. $ 11.89 $ 11.61 $ 10.06 $ 10.51
========= ========= ========= ===========
Total Investment Return......................... 2.33% 20.16% (2.18)% 5.10%
Ratios / Supplemental Data
Net Assets, End of Period (in 000s)............. $ 87,752 $ 55,559 $ 36,744 $ 12,617
Ratios to Average Net Assets:
Net Investment Income Including
Reimbursement/Waiver.......................... 0.86%/3/ 1.14% 1.18% 1.08%/3/
Net Investment Income (Loss)
Excluding Reimbursement/Waiver................ 0.50%/3/ 0.41% 0.05% (1.74)%/3/
Operating Expenses Including
Reimbursement/Waiver.......................... 0.45%/3/ 0.45% 0.45% 0.45%/3/
Operating Expenses Excluding
Reimbursement/Waiver.......................... 0.81%/3/ 1.18% 1.58% 3.27%/3/
Portfolio Turnover Rate......................... 49% 68% 30% 8%
</TABLE>
--------------------------------------------------------------------------------
/1/ Commencement of operations.
/2/ Based on average shares method.
/3/ Annualized
See Notes to Financial Statements.
--------------------------------------------------------------------------------
31
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Notes to Financial Statements June 30, 2000 (Unaudited)
Note 1 -- Organization and Significant Accounting Policies
A. Organization
Deutsche Asset Management VIT Funds (the "Trust"), is an open-end management
investment company which is registered under the Investment Company Act of 1940
as amended (the "Act"). The Trust was organized as a Massachusetts business
trust on January 19, 1996. Small Cap Index (the "Fund") is one of the funds
offered to investors by the Trust. The Fund began operations on August 25, 1997.
B. Valuation of Securities
The Fund's investments, which are traded on a recognized stock exchange or for
which price quotations are available, are valued each business day on the basis
of market valuations furnished by an independent pricing service approved by the
Board of Trustees. Securities traded on national stock exchanges or other
domestic exchanges are valued based on the closing price of the security prior
to the time when the Fund's assets are valued. Short-term obligations with
remaining maturities of 60 days or less are valued at amortized cost. Other
short-term debt securities are valued on a mark-to-market basis until such time
as they reach a remaining maturity of 60 days, whereupon they will be valued at
amortized cost using their value on the 61st day. All other securities and other
assets are valued at their fair value as determined in good faith under
procedures established by and under the general supervision of the Board of
Trustees.
C. Securities Transactions and Investment Income
Securities transactions are accounted for on a trade date basis. Dividend income
is recorded on the ex-dividend date. Interest income is recorded on the accrual
basis and includes amortization of premium and discount on investments. Realized
gains and losses from securities transactions are recorded on the identified
cost basis.
D. Futures Contracts
The Fund may enter into financial futures contracts which are contracts to buy a
standard quantity of securities at a specified price on a future date. The Fund
is required to deposit either in cash or securities an amount equal to a certain
percentage of the contract amount. Variation margin payments are made or
received by the Fund each day, dependent on the daily fluctuations in the value
of the underlying security, and are recorded for financial statement purposes as
unrealized gains or losses by the Fund. The Fund's investments in financial
futures contracts are designed to closely replicate the benchmark index used by
the Fund. Risks arise from possible illiquidity of the futures market and from
movements in security values.
Futures contracts are valued at the settlement price established each day by the
board of trade or exchange on which they are traded.
E. Federal Income Taxes
The Fund intends to qualify as a "regulated investment company" under Sub-
chapter M of the Internal Revenue Code and to distribute substantially all of
its net taxable income to shareholders. Accordingly, no provision for federal
income taxes has been made in the accompanying financial statements.
F. Expenses
The Trust accounts separately for the assets, liabilities and operations of each
of the funds. Expenses directly attributable to a fund are charged to that fund,
while the expenses which are attributable to the Trust are allocated among the
fund's based upon their relative net assets.
G. Organization Costs
Costs incurred in connection with the Fund's organization are being amortized on
a straight-line basis over five years beginning on August 25, 1997. In the
event that any of the initial shares are redeemed during such amortization
period, the redemption proceeds will be reduced for any unamortized organization
costs in the same proportion as the number of shares redeemed bears to the
number of initial shares outstanding at the time of the redemption.
H. Dividends from Net Investment Income and Distributions of Capital Gains
Dividends from net investment income and net realized gains from investment
transactions, if any, are distributed to shareholders annually.
Dividends and distributions to shareholders are recorded on the ex-dividend
date. Income and capital gains distributions are determined in accordance with
federal tax regulations and may differ from those determined in accordance with
generally accepted accounting principles. To the extent these differences are
permanent, such amounts are reclassified within the capital accounts based on
their federal tax basis treatment; temporary differences do not require such
reclassification.
--------------------------------------------------------------------------------
32
<PAGE>
Deutsche VIT Small Cap Index
--------------------------------------------------------------------------------
Notes to Financial Statements June 30, 2000 (Unaudited)
I. Shares of Beneficial Interest
The Fund is authorized to issue an unlimited number of shares of beneficial
interest with a par value of $0.001 per share. Transactions in shares of
beneficial interest were as follows:
<TABLE>
<CAPTION>
Six Months Year
Ended Ended
June 30, 2000 Dec. 31, 1999
-----------------------------------------------------
Shares Shares
-----------------------------------------------------
<S> <C> <C>
Shares sold 4,690,259 2,743,614
Reinvestment of
Dividends -- 185,370
Shares redeemed (2,095,043) (1,798,388)
---------- ----------
Net increase 2,595,216 1,130,596
========== ==========
</TABLE>
J. Other
The preparation of financial statements in conformity with accounting principles
generally accepted in the United States requires management to make estimates
and assumptions that affect the reported amounts in the financial statements.
Actual results could differ from those estimates.
Note 2 -- Fees and Transactions with Affiliates
Bankers Trust Company (the "Advisor'), an indirect wholly owned subsidiary of
Deutsche Bank AG, is the Fund's Investment Advisor. Under the Advisory Agreement
the Fund pays an advisory fee at an annual percentage rate of 0.35% of the
average daily net assets of the Fund. These fees are accrued daily and paid
monthly. The Advisor has voluntarily undertaken to waive its fee and to
reimburse the Fund for certain expenses so that the Fund's total operating
expenses will not exceed 0.45% of average daily net assets.
PFPC Inc. is the Fund's Administrator and Transfer Agent. For services rendered
as the Trust's Administrator, PFPC Inc. receives the following fees, accrued
daily, and paid monthly.
Administration Fees
------------------------------------------------------------
Fee % of the Trust's Average Daily
daily net assets Net Assets
------------------------------------------------------------
0.02% up to $2 billion
0.01% over $2 billion and up to $5 billion
0.0075% over $5 billion
PFPC Inc. also receives a $70,000 flat fee per year, per fund, paid monthly.
PFPC Inc. waived $12,500 of it's fees for the six months ended June 30, 2000.
Bankers Trust Company serves as custodian for the Fund and receives a fee for
this service.
At June 30, 2000, the Fund was a participant with other affiliated entities in a
revolving credit facility in the amount of $200,000,000, which expires April 27,
2001. A commitment fee on the average daily amount of the available commitment
is payable on a quarterly basis and apportioned among all participants based on
net assets. No amounts were drawn down or outstanding for this Fund under the
credit facility for the six months ended June 30, 2000.
Note 3 -- Purchases and Sales of Investment Securities
The aggregate cost of purchases and proceeds from the sale of investments, other
than short-term obligations, for the six months ended June 30, 2000, were
$64,259,232 and $33,697,125, respectively.
The aggregate gross unrealized appreciation, gross unrealized depreciation and
net unrealized depreciation on the Fund's investments, as computed on a federal
income tax basis, at June 30, 2000 were $7,757,814, $8,643,151 and $885,337,
respectively. The aggregate cost of investments on a federal income tax basis at
June 30, 2000 was $92,223,282.
Note 4 -- Futures Contracts
A summary of obligation under these financial instruments at June 30, 2000 is as
follows:
<TABLE>
<CAPTION>
Type of Unrealized
Futures Expiration Contracts Position Appreciation
-------------------------------------------------------------
<S> <C> <C> <C> <C>
Russell
2000 9/14/00 10 Long $22,873
=======
</TABLE>
Note 5 -- Fund Name Change
On April 30, 2000, the fund changed its name from
BT Insurance Funds Trust Small Cap Index Fund to Deutsche Asset Management Funds
VIT Small Cap Index.
--------------------------------------------------------------------------------
33
<PAGE>
This page intentionally left blank.
<PAGE>
This page intentionally left blank.
<PAGE>
For information on how to invest, shareholder account information and current
price and yield information, please contact your relationship manager or write
to us at:
Deutsche Asset Management Service Center
P.O. Box 219210
Kansas City, MO 64121-9210
or call our toll-free number: 1-800-730-1313
This report must be preceded or accompanied by a current prospectus for the
Fund.
Deutsche Asset Management is the marketing name for the asset management
activities of Deutsche Bank AG, Deutsche Fund Management, Inc., Bankers Trust
Company, DB Alex. Brown LLC, Deutsche Asset Management, Inc. and Deutsche Asset
Management Investment Services Limited.
Deutsche VIT Small Cap Index CUSIP #251/512/307
INSSMCAPSA (06/00)
Distributed by:
Provident Distributors, Inc.
