Jeff Berry
About Jeff Berry
Jeff Berry (born 1959) is Assistant Treasurer of DWS Municipal Income Trust (KTF) since 2025 and a Director at DWS within Fund Administration, focusing on financial and regulatory reporting oversight and publishing for DWS funds; he has also served as Assistant Treasurer of DBX ETF Trust since 2019 . Fund officers are “interested persons” of DWS and receive no direct compensation from KTF, indicating compensation is set and paid by DWS rather than tied to KTF’s performance . KTF’s Board has approved liquidation with a final distribution no later than November 30, 2026, which frames tenure and role continuity for fund officers during wind-down .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| DWS Investment Management Americas, Inc. | Fund Administration – Senior Specialist | Not disclosed | Financial and Regulatory Reporting Oversight; Print, Publishing & Mail for DWS Funds |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| DBX ETF Trust | Assistant Treasurer | 2019–present | Treasury and reporting support across ETF trust, indicating broader fund operations expertise |
Fixed Compensation
- Fund officers (including Assistant Treasurer) receive no direct compensation from KTF; they are compensated as employees of DWS or its affiliates .
- Base salary, bonus targets, perquisites, and pension/SERP details for Berry are not disclosed in KTF filings (compensation paid by DWS, not the Fund) .
Performance Compensation
- No KTF-linked performance incentives (RSUs/PSUs/options) or payout metrics are disclosed for fund officers; equity awards and vesting schedules are not reported in the proxy for officers .
Equity Ownership & Alignment
- Collectively, Board Members and officers of KTF owned less than 1% of outstanding shares as of August 1, 2025; officer-specific holdings for Berry are not enumerated .
- No pledging/hedging disclosures for officers are reported; Section 16(a) reporting was timely for required persons in the prior fiscal year (2023) .
- Board Member stock ownership expectations (e.g., $315,000 aggregate across DWS funds within three years) apply to trustees, not officers; thus no officer ownership guideline is disclosed for Berry .
Employment Terms
- Role start: Assistant Treasurer of KTF since 2025; elected annually by the Board; considered an “interested person” due to DWS employment .
- Compensation is paid by DWS; KTF does not disclose employment contract details, severance, change-of-control, non-compete/non-solicit, or clawback provisions for officers .
- Corporate context: KTF approved termination with liquidating distribution by November 30, 2026, shaping operational priorities and potential role sunset for fund officers .
Investment Implications
- Pay-for-performance linkage: Absent at the Fund level for officers; compensation is determined by DWS, reducing direct alignment between KTF TSR and Berry’s pay, and minimizing insider-driven trading signals from compensation events .
- Insider selling pressure: No officer-specific Form 4 activity disclosed in KTF filings; Section 16 compliance suggests appropriate reporting but does not indicate selling pressure; further Form 4 monitoring recommended .
- Retention risk: As a DWS employee with multi-fund responsibilities (KTF and DBX ETF Trust), retention risk appears low; KTF’s planned liquidation by 2026 likely transitions responsibilities rather than triggers officer contract economics at the Fund .
- Governance/controls: Officer responsibilities in financial and regulatory reporting oversight support operational execution quality during the liquidation timeline, mitigating execution risk for shareholders .