Exhibit (d)(ix)

                          EXPENSE LIMITATION AGREEMENT

         This EXPENSE LIMITATION AGREEMENT is made as of the 1st day of January,
2003 by and between DEUTSCHE INVESTORS FUNDS, INC., a Maryland Corporation (the
"Corporation") on behalf of GLOBAL BIOTECHNOLOGY FUND, (the "Fund"), and
INVESTMENT COMPANY CAPITAL CORP., a Maryland corporation ("ICCC"), with respect
to the following:

         WHEREAS, ICCC serves as the Fund's Investment Advisor (the "Advisor")
pursuant to an Investment Advisory Agreement dated March 28, 2001, and the
Fund's Administrator pursuant to a Master Services Agreement dated September 1,
2000, as amended through September 3, 2002, (collectively, the "Agreements").

         NOW, in consideration of the mutual covenants herein contained and
other good and valuable consideration, the receipt whereof is hereby
acknowledged, the parties hereto agree as follows:

         1.       ICCC, in its capacity as the Fund's Advisor and Fund's
                  Administrator, agrees to waive its fees and/ or reimburse
                  expenses to the extent necessary so that the ordinary annual
                  operating expenses for each of the classes set forth on
                  Exhibit A, as may be amended from time to time, do not exceed
                  the percentage of average daily net assets set forth on
                  Exhibit A for the period January 1, 2003 through December 31,
                  2003. For the purposes of this Agreement, ordinary operating
                  expenses for a Fund generally consist of costs not
                  specifically borne by the Advisor, Administrator or a Fund's
                  principal underwriter, including investment advisory fees,
                  administration and services fees, fees for necessary
                  professional services, amortization of organizational expenses
                  and costs associated with regulatory compliance and
                  maintaining legal existence and shareholder relations, but
                  excluding: (a) transactions costs (such as brokerage
                  commissions and dealer and underwriter spreads); (b) interest
                  charges on fund borrowings; (c) taxes; (d) litigation and
                  indemnification costs; and (e) extraordinary expenses.
                  Extraordinary expenses are those that are unusual or expected
                  to recur only infrequently, including, but not limited to (i)
                  expenses of the reorganization, restructuring or merger of a
                  Fund or class or the acquisition of all or substantially all
                  of the assets of another fund or class; (ii) expenses of
                  holding, and soliciting proxies for, a meeting of shareholders
                  of a Fund or class (except to the extent relating to routine
                  items such as the election of trustees or the approval of
                  independent public accountants); and (iii) expenses of
                  converting to a new custodian, transfer agent or other service
                  provider.



         2.       This Agreement shall be effective as to the Fund as of the
                  date the Fund commence operations after this Agreement shall
                  have been approved by the Board of Directors of the
                  Corporation with respect to the Fund and, unless sooner
                  terminated as provided herein, shall continue in effect as to
                  the Fund for the stated period and may be extended for another
                  period, provided such continuance is specifically approved at
                  least annually by the vote of a majority of the Board of
                  Directors of the Corporation. Upon the termination of any of
                  the Agreements, this Agreement shall automatically terminate
                  with respect to the Fund.

         3.       Any question of interpretation of any term or provision of
                  this Agreement having a counterpart in or otherwise derived
                  from a term or provision of the Investment Company Act of
                  1940, as amended (the "1940 Act") shall be resolved by
                  reference to such term or provision of the 1940 Act and to
                  interpretations thereof, if any, by the United States Courts
                  or in the absence of any controlling decision of any such
                  court, by rules, regulations or orders of the Securities and
                  Exchange Commission ("SEC") issued pursuant to said Act. In
                  addition, where the effect of a requirement of the 1940 Act
                  reflected in any provision of this Agreement is revised by
                  rule, regulation or order of the SEC, such provision shall be
                  deemed to incorporate the effect of such rule, regulation or
                  order. Otherwise the provisions of this Agreement shall be
                  interpreted in accordance with the laws of Maryland.



         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed in duplicate by their respective officers as of the day and year first
above written.



                         DEUTSCHE INVESTORS FUNDS, INC.
                         On behalf of Global Biotechnology Fund

                         By:      /s/ Bruce A. Rosenblum
                                  --------------------------
                                  Name:    Bruce A. Rosenblum
                                  Title:   Assistant Secretary


                         INVESTMENT COMPANY CAPITAL CORP.

                         By:      /s/ Jeffrey A. Engelsman
                                  --------------------------
                                  Name:    Jeffrey A. Engelsman
                                  Title:   Assistant Secretary



                                    Exhibit A

                                                        Ordinary Fund Operating
                                                              Expenses
Fund                                                 (as a percentage of average
                                                            daily net assets)
Global Biotechnology Fund - Class A Shares                        1.50%
Global Biotechnology Fund - Class B Shares                        2.25%
Global Biotechnology Fund - Class C Shares                        2.25%