Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
PARTNERRE LTD
   2. Issuer Name and Ticker or Trading Symbol
DEUTSCHE STRATEGIC MUNICIPAL INCOME TRUST [KSM] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
90 PITTS BAY RD., WELLESLEY HOUSE		 3. Date of Earliest Transaction (Month/Day/Year)
03/03/2015
(Street)

PEMBROKE, D0 HM08		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Floating Rate Municipal Term Preferred Shares, Series 2015 03/03/2015   X   2,419 A $ 25,007.67 2,419 I By Subsidiary (1)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Put Option (obligation to buy) (2) (3) $ 25,007.67 03/03/2015   X     2,419 01/21/2015 03/31/2015 Floating Rate Municipal Term Preferred Shares, Series 2015 2,419 $ 0 0 I By Subsidiary (1)

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
PARTNERRE LTD
90 PITTS BAY RD.
WELLESLEY HOUSE
PEMBROKE, D0 HM08		     X    
Partner Reinsurance Co Ltd.
90 PITTS BAY RD.
WELLESLEY HOUSE
PEMBROKE, D0 HM08		     X    
PartnerRe Principal Finance Inc.
ONE GREENWICH PLAZA
GREENWICH, CT 06830		     X    

Signatures

 /s/C. Marc Wetherhill, Chief Legal Counsel   05/27/2015
**Signature of Reporting Person Date
 /s/C. Marc Wetherhill, General Counsel & Chief Compliance Officer   05/27/2015
**Signature of Reporting Person Date
 /s/TK Khan, General Counsel   05/27/2015
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Partner Reinsurance Company of the U.S. ("PRC-US"), a wholly owned subsidiary of PartnerRe Ltd., is a direct beneficial owner of the reported securities. PartnerRe Ltd. Is an indirect beneficial owner of the reported securities.. PartnerRe Principal Finance Inc., a wholly owned indirect subsidiary of PartnerRe Ltd., acts as investment adviser for PRC-US and Partner Reinsurance Company Ltd. ("PRC"), a wholly owned direct subsidiary of PartnerRe Ltd. PartnerRe Principal Finance Inc. and PRC do not beneficially own any of the reported securities within the meaning of Rule 16a-1(a)(2) under the Securities Exchange Act of 1934 (the "Exchange Act").
(2) On January 16, 2015, PRC and Citibank N.A. ("Citibank") entered into a Put/Call Agreement (the "Put/Call Agreement"), by which, among other things, (i) PRC granted Citibank an option (exercisable between January 21, 2015 and March 31, 2015) (the "Put Option") to cause PRC to purchase the Floating Rate Municipal Term Preferred Shares, Series 2015 (the "MTPS Shares") from Citibank at the option price of $25,000 per share plus accumulated but unpaid dividends (the "Option Price"); and (ii) Citibank granted PRC an option (exercisable on April 1, 2015) (the "Call Option") to cause Citibank to sell the MTPS Shares to PRC at the Option Price. On March 3, 2015, Citibank notified PRC that it was exercising the Put Option.
(3) PRC designated its affiliate, PRC-US, to perform its obligations under the Put/Call Agreement, and accordingly PRC-US purchased the MTPS Shares from Citibank on March 10, 2015 for the Option Price. The Call Option expired immediately following the exercise of the Put Option, whereupon PRC ceased to be subject to Section 16 of the Exchange Act.

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