# Focused SICAV – Corporate Bond EUR
| Most important figures |  |
| --- | --- |
| Date | ISIN | 30.4.2020 | 31.10.2019 | 31.10.2018 |
| Net assets in EUR |  | 278 402 243.98 | 689 876 626.27 | 317 781 843.25 |
| Class F-acc | LU0224579853 |  |  |  |
| Shares outstanding |  | 630 538.5280 | 363 425.5220 | 192 548.4990 |
| Net asset value per share in EUR |  | 162.70 | 167.92 | 158.11 |
| Issue and redemption price per share in EUR 1 |  | 162.70 | 167.92 | 158.11 |
| Class (CHF hedged) F-acc | LU0581055034 |  |  |  |
| Shares outstanding |  | 149 973.2830 | 345 452.2940 | 35 352.9280 |
| Net asset value per share in CHF |  | 132.24 | 136.78 | 129.41 |
| Issue and redemption price per share in CHF 1 |  | 132.24 | 136.78 | 129.41 |
| Class (USD hedged) F-acc | LU1272229326 |  |  |  |
| Shares outstanding |  | 277 433.7960 | 964 709.5140 | 342 286.3660 |
| Net asset value per share in USD |  | 122.11 | 124.42 | 113.78 |
| Issue and redemption price per share in USD 1 |  | 122.11 | 124.42 | 113.78 |
| Class F-UKdist | LU0526609044 |  |  |  |
| Shares outstanding |  | 283 284.8090 | 1 105 292.4470 | 628 027.6390 |
| Net asset value per share in EUR |  | 114.76 | 120.73 | 116.21 |
| Issue and redemption price per share in EUR 1 |  | 114.76 | 120.73 | 116.21 |
| Class (GBP hedged) F-UKdist | LU0526609127 |  |  |  |
| Shares outstanding |  | 788 742.7930 | 2 753 748.4180 | 1 519 598.8100 |
| Net asset value per share in GBP |  | 103.06 | 107.98 | 102.69 |
| Issue and redemption price per share in GBP 1 |  | 103.06 | 107.98 | 102.69 |
| 1  See note 1 |  |  |  |  |


## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
France	18.95
The Netherlands	18.00
United States	14.81
United Kingdom	10.76
Germany	10.20
Luxembourg	3.98
Spain	3.88
Australia	3.26
Switzerland	1.91
Ireland	1.74
Finland	1.68
Italy	1.66
Japan	1.18
Singapore	0.60
Sweden	0.56
Belgium	0.51
Denmark	0.25
Guernsey	0.25
Mexico	0.17
Austria	0.15
Economic Breakdown as a % of net assets	
Banks & credit institutions	28.75
Finance & holding companies	27.43
Telecommunications	7.75
Energy & water supply	6.38
Insurance	4.84
Petroleum	3.05
Tobacco & alcohol	2.63
Building industry & materials	2.47
Countries & central governments	1.86
Food & soft drinks	1.66
Electrical devices & components	1.62
Traffic & transportation	1.28
Pharmaceuticals, cosmetics & medical products	1.27
Mortgage & funding institutions	1.04
Miscellaneous services	0.91
Electronics & semiconductors	0.54
Vehicles	0.37
Real Estate	0.26
Computer hardware & network equipment providers	0.26
Miscellaneous trading companies	0.13
Total	94.50
Total	94.50
Focused SICAV – Corporate Bond EUR Semi-Annual Report as of 30 April 2020

## Statement of Net Assets
Assets	30.4.2020
EUR
Investments in securities, cost	270 000 693.59
| Investments in securities, unrealized appreciation (depreciation) | 	-6 922 939.21	 |
| --- | --- |
| Total investments in securities (Note 1) | 263 077 754.38 |
| Cash at banks, deposits on demand and deposit accounts | 9 701 731.31 |
| Other liquid assets (Margins) | 243 381.25 |
| Receivable on securities sales (Note 1) | 2 429 939.67 |
| Receivable on subscriptions | 239 605.28 |
| Interest receivable on liquid assets | 12.01 |
| Unrealized gain (loss) on forward foreign exchange contracts (Note 1) | 3 375 994.69 |
| Unrealized gain (loss) on swaps (Note 1) | -49 774.00 |
| Total Assets | 279 018 644.59 |
|  |  |
| Liabilities |  |
| Payable on securities purchases (Note 1) | -258 604.80 |
| Payable on redemptions | -323 852.19 |
| Provisions for flat fee (Note 2) | -21 952.23 |
| Provisions for taxe d’abonnement (Note 3) | -2 294.54 |
| Provisions for other commissions and fees (Note 2) | 	-9 696.85	 |
| Total provisions | -33 943.62 |
| Total Liabilities | -616 400.61 |
|  |  |
| Net assets at the end of the period | 278 402 243.98 |
| Statement of Operations | EUR |
| Income | 1.11.2019-30.4.2020 |
| Interest on liquid assets | 396.46 |
| Interest on securities | 3 208 340.84 |
| Interest received on swaps (Note 1) | 188 363.79 |
| Income on securities lending (Note 11) | 90 886.68 |
| Other income (Note 4) | 743 822.05 |
| Total income | 4 231 809.82 |
|  |  |
| Expenses |  |
| Interest paid on swaps (Note 1) | -38 229.92 |
| Flat fee (Note 2) | -302 565.67 |
| Taxe d’abonnement (Note 3) | -8 764.81 |
| Cost on securities lending (Note 11) | -36 354.67 |
| Other commissions and fees (Note 2) | -7 813.19 |
| Interest on cash and bank overdraft | -20 874.19 |
| Total expenses | -414 602.45 |
|  |  |
| Net income (loss) on investments | 3 817 207.37 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | 4 870 319.54 |
| Realized gain (loss) on yield-evaluated securities and money market instruments | 29 971.60 |
| Realized gain (loss) on financial futures | -173 074.90 |
| Realized gain (loss) on forward foreign exchange contracts | 4 935 603.21 |
| Realized gain (loss) on swaps | 706 227.68 |
| Realized gain (loss) on foreign exchange | 1 789 308.82 |
| Total realized gain (loss) | 12 158 355.95 |
|  |  |
| Net realized gain (loss) of the period | 15 975 563.32 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | -20 511 950.14 |
| Unrealized appreciation (depreciation) on yield-evaluated securities and money market instruments | 4 871.68 |
| Unrealized appreciation (depreciation) on financial futures | 61 050.00 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | -4 587 799.88 |
| Unrealized appreciation (depreciation) on swaps | -49 774.00 |
| Total changes in unrealized appreciation (depreciation) | -25 083 602.34 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | -9 108 039.02 |

Focused SICAV – Corporate Bond EUR Semi-Annual Report as of 30 April 2020
| Statement of Changes in Net Assets |  |
| --- | --- |
|  |  | EUR |
|  |  | 1.11.2019-30.4.2020 |
| Net assets at the beginning of the period |  | 689 876 626.27 |
| Subscriptions |  | 108 721 507.54 |
| Redemptions |  | 	-502 241 345.76	 |
| Total net subscriptions (redemptions) |  | -393 519 838.22 |
| Dividend paid |  | -8 846 505.05 |
| Net income (loss) on investments |  | 3 817 207.37 |
| Total realized gain (loss) |  | 12 158 355.95 |
| Total changes in unrealized appreciation (depreciation) |  | 	-25 083 602.34	 |
| Net increase (decrease) in net assets as a result of operations |  | -9 108 039.02 |
| Net assets at the end of the period |  | 278 402 243.98 |
| Changes in the Number of Shares outstanding |  |  |
|  |  | 1.11.2019-30.4.2020 |
| Class |  | F-acc |
| Number of shares outstanding at the beginning of the period |  | 363 425.5220 |
| Number of shares issued |  | 387 807.1250 |
| Number of shares redeemed |  | -120 694.1190 |
| Number of shares outstanding at the end of the period |  | 630 538.5280 |
| Class |  | (CHF hedged) F-acc |
| Number of shares outstanding at the beginning of the period |  | 345 452.2940 |
| Number of shares issued |  | 114 124.1210 |
| Number of shares redeemed |  | -309 603.1320 |
| Number of shares outstanding at the end of the period |  | 149 973.2830 |
| Class |  | (USD hedged) F-acc |
| Number of shares outstanding at the beginning of the period |  | 964 709.5140 |
| Number of shares issued |  | 18 760.1240 |
| Number of shares redeemed |  | -706 035.8420 |
| Number of shares outstanding at the end of the period |  | 277 433.7960 |
| Class |  | F-UKdist |
| Number of shares outstanding at the beginning of the period |  | 1 105 292.4470 |
| Number of shares issued |  | 40.5670 |
| Number of shares redeemed |  | -822 048.2050 |
| Number of shares outstanding at the end of the period |  | 283 284.8090 |
| Class |  | (GBP hedged) F-UKdist |
| Number of shares outstanding at the beginning of the period |  | 2 753 748.4180 |
| Number of shares issued |  | 224 127.3910 |
| Number of shares redeemed |  | -2 189 133.0160 |
| Number of shares outstanding at the end of the period |  | 788 742.7930 |
| Annual Distribution 1 |  |  |
| Focused SICAV – Corporate Bond EUR	Ex-Date | Pay-Date | Currency	Amount per share |
| F-UKdist	15.11.2019 | 20.11.2019 | EUR	2.28 |
| (GBP hedged) F-UKdist	15.11.2019 | 20.11.2019 | GBP	1.97 |
| 1  See note 5 |  |  |

Focused SICAV – Corporate Bond EUR Semi-Annual Report as of 30 April 2020

## Statement of Investments in Securities and other Net Assets as of 30 April 2020
| Description | Quantity/ | Valuation in EUR | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Transferable securities and money market instruments listed on an official stock exchange Notes, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	ANHEUSER-BUSCH INBEV SA/NV-REG-S 3.70000% 20-02.04.40 | 1 200 000.00 | 1 403 580.00 | 0.50 |
| EUR	AUSNET SERVICES HOLDINGS PTY LTD-REG-S 0.62500% 20-25.08.30 | 2 000 000.00 | 1 941 016.00 | 0.70 |
| EUR	BP CAPITAL MARKETS PLC-REG-S 2.82200% 20-07.04.32 | 2 000 000.00 | 2 196 300.00 | 0.79 |
| EUR	CIE DE SAINT-GOBAIN-REG-S 2.37500% 20-04.10.27 | 1 000 000.00 | 1 059 600.00 | 0.38 |
| EUR	ENEL FINANCE INTERNATIONAL NV-REG-S 1.37500% 16-01.06.26 | 4 372 000.00 | 4 559 219.97 | 1.64 |
| EUR	FORD MOTOR CREDIT CO LLC 1.51400% 19-17.02.23 | 600 000.00 | 534 000.00 | 0.19 |
| EUR	PHILIP MORRIS INTERNATIONAL INC 0.80000% 19-01.08.31 | 700 000.00 | 638 505.00 | 0.23 |
| Total EUR |  | 12 332 220.97 | 4.43 |
| Total Notes, fixed rate |  | 12 332 220.97 | 4.43 |
| Notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	AUSTRALIA & NZ BANKING GRP-REG-S-SUB 1.125%/VAR 19-21.11.29 | 1 200 000.00 | 1 155 804.00 | 0.42 |
| Total EUR |  | 1 155 804.00 | 0.42 |
| Total Notes, floating rate |  | 1 155 804.00 | 0.42 |
| Medium term notes, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	ABERTIS INFRAESTRUCTURAS SA-REG-S 2.37500% 19-27.09.27 | 600 000.00 | 583 764.48 | 0.21 |
| EUR	ABERTIS INFRAESTRUCTURAS SA-REG-S 3.00000% 19-27.03.31 | 1 300 000.00 | 1 293 138.60 | 0.46 |
| EUR	ABN AMRO BANK NV-REG-S-SUB 7.12500% 12-06.07.22 | 1 600 000.00 | 1 785 770.08 | 0.64 |
| EUR	AIB GROUP PLC-REG-S 1.25000% 19-28.05.24 | 700 000.00 | 681 243.20 | 0.24 |
| EUR	ALLIANZ FINANCE II BV-REG-S 1.50000% 19-15.01.30 | 800 000.00 | 884 774.40 | 0.32 |
| EUR	ANGLO AMERICAN CAPITAL PLC-REG-S 1.62500% 17-18.09.25 | 900 000.00 | 909 720.00 | 0.33 |
| EUR	APRR SA-REG-S 1.62500% 17-13.01.32 | 900 000.00 | 947 646.00 | 0.34 |
| EUR	ASSICURAZIONI GENERALI SPA-REG-S-SUB 4.12500% 14-04.05.26 | 1 200 000.00 | 1 300 500.00 | 0.47 |
| EUR	AUTOSTRADE PER L’ITALIA SPA 4.37500% 10-16.09.25 | 700 000.00 | 727 365.80 | 0.26 |
| EUR	BANCO BILBAO VIZCAYA ARGENTARIA-REG-S 0.37500% 19-02.10.24 | 2 500 000.00 | 2 390 465.00 | 0.86 |
| EUR	BANK OF AMERICA CORP-REG-S 1.37500% 15-26.03.25 | 2 100 000.00 | 2 158 375.80 | 0.78 |
| EUR	BANQUE FEDER DU CREDIT MUTUEL-REG-S 1.62500% 16-19.01.26 | 2 600 000.00 | 2 766 140.00 | 0.99 |
| EUR	BANQUE FEDER DU CREDIT MUTUEL-REG-S-SUB 2.37500% 16-24.03.26 | 1 600 000.00 | 1 658 560.00 | 0.60 |
| EUR	BANQUE FEDERATIVE DU CREDIT MUTUEL 2.62500% 14-18.03.24 | 800 000.00 | 866 758.40 | 0.31 |
| EUR	BARCLAYS BANK PLC-SUB 6.62500% 11-30.03.22 | 800 000.00 | 863 926.40 | 0.31 |
| EUR	BAT INTERNATIONAL FINANCE PLC-REG-S 0.87500% 15-13.10.23 | 700 000.00 | 691 987.80 | 0.25 |
| EUR	BNP PARIBAS SA 2.37500% 14-20.05.24 | 1 000 000.00 | 1 081 478.00 | 0.39 |
| EUR	BNP PARIBAS SA-REG-S 1.50000% 17-17.11.25 | 1 100 000.00 | 1 133 825.00 | 0.41 |
| EUR	BNP PARIBAS SA-REG-S 1.50000% 17-23.05.28 | 200 000.00 | 207 472.40 | 0.07 |
| EUR	BNP PARIBAS SA-REG-S 1.12500% 18-11.06.26 | 800 000.00 | 806 241.60 | 0.29 |
| EUR	BP CAPITAL MARKETS PLC-REG-S 1.57300% 15-16.02.27 | 700 000.00 | 703 116.40 | 0.25 |
| EUR	BP CAPITAL MARKETS PLC-REG-S 1.63700% 17-26.06.29 | 1 600 000.00 | 1 589 001.60 | 0.57 |
| EUR	BP CAPITAL MARKETS PLC-REG-S 1.59400% 18-03.07.28 | 700 000.00 | 697 515.00 | 0.25 |
| EUR	BPCE SA 2.87500% 13-16.01.24 | 400 000.00 | 432 984.00 | 0.16 |
| EUR	BRITISH TELECOMMUNICATIONS PLC-REG-S 1.12500% 16-10.03.23 | 400 000.00 | 404 595.20 | 0.15 |
| EUR	CIE DE SAINT-GOBAIN SA-REG-S 1.87500% 18-21.09.28 | 1 300 000.00 | 1 323 800.40 | 0.48 |
| EUR	CIE DE SAINT-GOBAIN SA-REG-S 1.87500% 19-15.03.31 | 900 000.00 | 901 598.40 | 0.32 |
| EUR	CIE DE SAINT-GOBAIN-REG-S 1.12500% 18-23.03.26 | 500 000.00 | 495 134.52 | 0.18 |
| EUR	CITIGROUP INC-REG-S 2.12500% 14-10.09.26 | 800 000.00 | 854 873.60 | 0.31 |
| EUR	CITIGROUP INC-REG-S 1.50000% 16-26.10.28 | 1 900 000.00 | 1 962 859.59 | 0.71 |
| EUR	CREDIT AGRICOLE SA LONDON 2.37500% 14-20.05.24 | 500 000.00 | 540 824.00 | 0.19 |
| EUR	CREDIT AGRICOLE SA LONDON-REG-S 1.87500% 16-20.12.26 | 2 800 000.00 | 2 951 480.00 | 1.06 |
| EUR	CREDIT SUISSE GRP FDNG GUERNSEY-REG-S 1.25000% 15-14.04.22 | 700 000.00 | 702 170.00 | 0.25 |
| EUR	DEUTSCHE BAHN FINANCE GMBH-REG-S 0.75000% 20-16.07.35 | 700 000.00 | 711 100.60 | 0.26 |
| EUR	DEUTSCHE BANK AG-REG-S 1.62500% 19-12.02.21 | 1 800 000.00 | 1 783 663.20 | 0.64 |
| EUR	DEUTSCHE BANK-REG-S 2.37500% 13-11.01.23 | 1 400 000.00 | 1 391 986.40 | 0.50 |
| EUR	DEUTSCHE TELEKOM AG-REG-S 2.25000% 19-29.03.39 | 1 400 000.00 | 1 643 636.40 | 0.59 |
| EUR	DEUTSCHE TELEKOM INTL FINANCE BV-REG-S 1.50000% 16-03.04.28 | 2 000 000.00 | 2 127 536.00 | 0.76 |
| EUR	DEUTSCHE TELEKOM INTL FINANCE BV-REG-S 1.37500% 17-30.01.27 | 400 000.00 | 423 100.00 | 0.15 |
| EUR	DEUTSCHE TELEKOM INTL FIN BV-REG-S 2.00000% 18-01.12.29 | 1 000 000.00 | 1 107 063.70 | 0.40 |
| EUR	DIAGEO FINANCE PLC-REG-S 1.75000% 14-23.09.24 | 500 000.00 | 525 085.00 | 0.19 |
| EUR	DIAGEO FINANCE PLC-REG-S 1.50000% 18-22.10.27 | 2 600 000.00 | 2 731 807.00 | 0.98 |
| EUR	EDP FINANCE BV-REG-S 2.62500% 14-18.01.22 | 1 000 000.00 | 1 034 370.00 | 0.37 |
| EUR	ENAGAS FINANCIACIONES SAU-REG-S 1.25000% 15-06.02.25 | 2 900 000.00 | 3 001 285.40 | 1.08 |
| EUR	ENGIE SA-REG-S 1.75000% 20-27.03.28 | 1 800 000.00 | 1 959 778.80 | 0.70 |
| EUR	ENGIE SA-REG-S 2.37500% 14-19.05.26 | 600 000.00 | 669 637.98 | 0.24 |
| EUR	EUROGRID GMBH-REG-S 1.50000% 16-18.04.28 | 2 400 000.00 | 2 520 720.00 | 0.91 |
| EUR	FORD MOTOR CREDIT CO LLC 3.02100% 19-06.03.24 | 1 200 000.00 | 1 063 358.40 | 0.38 |
| EUR	GE CAPITAL EUROPEAN FUNDING 4.35000% 06-03.11.21 | 800 000.00 | 832 650.00 | 0.30 |
| EUR	GE CAPITAL EUROPEAN FUNDING 4.62500% 07-22.02.27 | 1 600 000.00 | 1 844 240.00 | 0.66 |
| EUR	GE CAPITAL EUROPEAN FUNDING-REG-S 0.80000% 15-21.01.22 | 1 500 000.00 | 1 483 404.00 | 0.53 |
| EUR	GENERAL MOTORS FINANCIAL CO INC-REG-S 0.95500% 16-07.09.23 | 1 600 000.00 | 1 412 995.20 | 0.51 |
| EUR	GENERAL MOTORS FINANCIAL CO INC-REG-S 1.69400% 18-26.03.25 | 1 800 000.00 | 1 560 736.80 | 0.56 |
| EUR	GLENCORE FINANCE EUROPE SA-REG-S 1.75000% 15-17.03.25 | 3 300 000.00 | 3 227 800.33 | 1.16 |
| EUR	GOLDMAN SACHS GROUP INC 2.87500% 14-03.06.26 | 2 600 000.00 | 2 845 731.20 | 1.02 |
| EUR	GOLDMAN SACHS GROUP INC-REG-S 1.25000% 16-01.05.25 | 700 000.00 | 701 533.00 | 0.25 |
| EUR	HEIDELBERGCEMENT AG-REG-S 1.50000% 16-07.02.25 | 1 300 000.00 | 1 286 948.00 | 0.46 |
| EUR	HEIDELBERGCEMENT FIN LUX SA-REG-S 0.50000% 17-18.01.21 | 200 000.00 | 198 584.80 | 0.07 |
| EUR	HOLCIM FINANCE LUXEMBOURG SA-REG-S 2.25000% 16-26.05.28 | 1 000 000.00 | 1 035 130.00 | 0.37 |
| EUR	HSBC HOLDINGS PLC-SUB 3.00000% 15-30.06.25 | 1 200 000.00 | 1 275 571.20 | 0.46 |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S 3.50000% 13-01.02.21 | 400 000.00 | 409 374.40 | 0.15 |
| EUR	INNOGY FINANCE II BV-REG-S 5.75000% 03-14.02.33 | 900 000.00 | 1 391 355.00 | 0.50 |
| EUR	INTERNATIONAL BUSINESS MACHINES CORP 0.87500% 19-31.01.25 | 700 000.00 | 716 053.80 | 0.26 |
| EUR	JP MORGAN CHASE & CO 2.75000% 13-01.02.23 | 1 900 000.00 | 2 010 523.00 | 0.72 |

Focused SICAV – Corporate Bond EUR Semi-Annual Report as of 30 April 2020
|  | Description | Quantity/ | Valuation in EUR | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| EUR | JPMORGAN CHASE & CO-REG-S 1.50000% 15-27.01.25 | 1 600 000.00 | 1 656 320.00 | 0.60 |
| EUR | JPMORGAN CHASE & CO-REG-S 1.50000% 16-29.10.26 | 1 100 000.00 | 1 152 894.60 | 0.41 |
| EUR | KONINKLIJKE KPN NV-REG-S 1.12500% 16-11.09.28 | 200 000.00 | 201 244.00 | 0.07 |
| EUR | LANDESBANK BADEN-WUERTTEMBERG-REG-S-SUB 3.62500% 15-16.06.25 | 1 600 000.00 | 1 641 232.00 | 0.59 |
| EUR | LOGICOR FINANCING SARL-REG-S 3.25000% 18-13.11.28 | 1 000 000.00 | 1 023 968.00 | 0.37 |
| EUR | LOGICOR FINANCING SARL-REG-S 1.62500% 19-15.07.27 | 2 300 000.00 | 2 184 080.00 | 0.78 |
| EUR | MORGAN STANLEY 1.75000% 15-30.01.25 | 2 200 000.00 | 2 287 670.00 | 0.82 |
| EUR | MORGAN STANLEY 1.75000% 16-11.03.24 | 900 000.00 | 933 318.00 | 0.34 |
| EUR | MORGAN STANLEY 1.87500% 17-27.04.27 | 1 400 000.00 | 1 484 938.00 | 0.53 |
| EUR | NATWEST MARKETS PLC-REG-S 1.00000% 19-28.05.24 | 1 100 000.00 | 1 069 602.60 | 0.38 |
| EUR | OP CORPORATE BANK PLC-REG-S-SUB 5.75000% 12-28.02.22 | 700 000.00 | 758 134.72 | 0.27 |
| EUR | ORANGE SA 1.12500% 19-15.07.24 | 800 000.00 | 825 656.00 | 0.30 |
| EUR | ORANGE SA-REG-S 1.00000% 18-12.09.25 | 1 400 000.00 | 1 448 314.00 | 0.52 |
| EUR | ORANGE SA-REG-S 1.37500% 18-20.03.28 | 1 800 000.00 | 1 929 351.60 | 0.69 |
| EUR | ORIGIN ENERGY FINANCE LTD-REG-S 1.00000% 19-17.09.29 | 2 400 000.00 | 2 076 868.80 | 0.75 |
| EUR | PETROLEOS MEXICANOS-REG-S 2.50000% 17-21.08.21 | 500 000.00 | 473 437.50 | 0.17 |
| EUR | PHILIP MORRIS INTERNATIONAL INC 2.87500% 14-03.03.26 | 2 000 000.00 | 2 180 880.00 | 0.78 |
| EUR | RAIFFEISEN BANK INTL AG-SUB 6.62500% 11-18.05.21 | 400 000.00 | 415 289.60 | 0.15 |
| EUR | REPSOL INTERNATIONAL FINANCE BV-REG-S 2.25000% 14-10.12.26 | 300 000.00 | 314 820.00 | 0.11 |
| EUR | SANOFI-REG-S 0.87500% 19-21.03.29 | 900 000.00 | 955 997.10 | 0.34 |
| EUR | SANOFI-REG-S 1.37500% 18-21.03.30 | 1 500 000.00 | 1 669 347.00 | 0.60 |
| EUR | SANTANDER CONSUMER FINANCE SA-REG-S 0.87500% 18-30.05.23 | 1 100 000.00 | 1 092 138.95 | 0.39 |
| EUR | SCHAEFFLER AG-REG-S 1.87500% 19-26.03.24 | 700 000.00 | 664 125.00 | 0.24 |
| EUR | SCHAEFFLER AG-REG-S 2.87500% 19-26.03.27 | 400 000.00 | 368 000.00 | 0.13 |
| EUR | SHELL INTERNATIONAL FINANCE BV 2.50000% 14-24.03.26 | 1 500 000.00 | 1 663 248.00 | 0.60 |
| EUR | SHELL INTERNATIONAL FINANCE BV-REG-S 0.75000% 16-15.08.28 | 1 000 000.00 | 996 800.00 | 0.36 |
| EUR | SKY PLC-REG-S 2.50000% 14-15.09.26 | 1 000 000.00 | 1 115 296.90 | 0.40 |
| EUR | SOCIETE GENERALE-REG-S 1.25000% 19-15.02.24 | 1 900 000.00 | 1 914 132.20 | 0.69 |
| EUR | SUMITOMO MITSUI FIN GP INC-REG-S 0.93400% 17-11.10.24 | 700 000.00 | 694 939.00 | 0.25 |
| EUR | SUMITOMO MITSUI FIN GP INC-REG-S 0.81900% 18-23.07.23 | 2 600 000.00 | 2 573 433.75 | 0.92 |
| EUR | TELEFONICA EMISIONES SA-REG-S 1.46000% 16-13.04.26 | 1 300 000.00 | 1 348 001.33 | 0.48 |
| EUR | TELEFONICA EMISIONES SAU-REG-S 0.75000% 16-13.04.22 | 1 100 000.00 | 1 101 991.00 | 0.40 |
| EUR | UBS GROUP AG-REG-S 1.25000% 16-01.09.26 | 2 040 000.00 | 2 077 576.80 | 0.75 |
| EUR | UNICREDITO ITALIANO SPA 1.00000% 18-18.01.23 | 2 700 000.00 | 2 598 393.60 | 0.93 |
| EUR | UNION FENOSA FINANCE BV-REG-S 1.25000% 20-15.01.26 | 1 300 000.00 | 1 336 296.00 | 0.48 |
| EUR | VEOLIA ENVIRONNEMENT-REG-S 0.89200% 19-14.01.24 | 1 600 000.00 | 1 629 040.00 | 0.59 |
| EUR | VEOLIA ENVIRONNEMENT SA-REG-S 1.25000% 20-15.04.28 | 700 000.00 | 731 899.00 | 0.26 |
| EUR | VERIZON COMMUNICATIONS INC 3.25000% 14-17.02.26 | 2 500 000.00 | 2 905 000.00 | 1.04 |
| EUR | VINCI SA-REG-S 1.62500% 19-18.01.29 | 1 700 000.00 | 1 802 204.00 | 0.65 |
| EUR | VODAFONE GROUP PLC-REG-S 1.60000% 16-29.07.31 | 600 000.00 | 632 238.00 | 0.23 |
| EUR | VODAFONE GROUP PLC-REG-S 1.50000% 17-24.07.27 | 1 100 000.00 | 1 158 515.60 | 0.42 |
| EUR | VOLKSWAGEN BANK GMBH-REG-S 1.25000% 17-15.12.25 | 200 000.00 | 195 878.40 | 0.07 |
| EUR | VOLKSWAGEN FINANCIAL SERVICES AG 1.37500% 18-16.10.23 | 1 700 000.00 | 1 703 933.80 | 0.61 |
| EUR | VOLKSWAGEN INTERNATIONAL FIN NV-REG-S 1.62500% 15-16.01.30 | 150 000.00 | 153 194.40 | 0.06 |
| EUR | VOLKSWAGEN LEASING GMBH-REG-S 1.12500% 17-04.04.24 | 700 000.00 | 691 879.42 | 0.25 |
| EUR | WELLS FARGO & CO-REG-S 2.62500% 12-16.08.22 | 700 000.00 | 727 312.60 | 0.26 |
| Total EUR |  |  | 140 784 696.55 | 50.57 |
| Total Medium term notes, fixed rate |  | 140 784 696.55 | 50.57 |
| Medium term notes, zero coupon |  |  |  |
| EUR |  |  |  |
| EUR	E.ON SE-REG-S 0.00000% 19-28.08.24 | 900 000.00 | 889 531.20 | 0.32 |
| Total EUR |  | 889 531.20 | 0.32 |
| Total Medium term notes, zero coupon |  | 889 531.20 | 0.32 |
| Medium term notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	ALLIANZ FINANCE II-SUB 5.750%/3M EURIBOR+334.9BP 11-08.07.41 | 600 000.00 | 630 718.80 | 0.23 |
| EUR	ALLIANZ SE-REG-S-SUB 4.750%/3M EURIBOR+360BP 13-PRP | 2 600 000.00 | 2 878 876.00 | 1.03 |
| EUR	AVIVA PLC-REG-S-SUB 3.375%/VAR 15-04.12.45 | 1 500 000.00 | 1 604 013.00 | 0.58 |
| EUR	AVIVA PLC-SUB 6.125%/VAR 13-05.07.43 | 1 800 000.00 | 2 034 334.80 | 0.73 |
| EUR	AXA SA-REG-S-SUB 3.375%/VAR 16-06.07.47 | 1 300 000.00 | 1 442 142.00 | 0.52 |
| EUR	AXA SA-REG-S-SUB 3.941%/VAR 14-PRP | 500 000.00 | 540 000.00 | 0.19 |
| EUR	BARCLAYS PLC-REG-S 1.375%/VAR 18-24.01.26 | 500 000.00 | 490 723.57 | 0.18 |
| EUR	BNP PARIBAS SA-REG-S 1.125%/VAR 20-17.04.29 | 800 000.00 | 798 560.00 | 0.29 |
| EUR	BNP PARIBAS-REG-S 2.125%/VAR 19-23.01.27 | 1 300 000.00 | 1 377 425.40 | 0.50 |
| EUR	CITIGROUP INC-SUB 4.250%/FLR 05-25.02.30 | 400 000.00 | 444 668.00 | 0.16 |
| EUR	COMMONWEALTH BK OF AUSTRLIA-REG-S-SUB 1.936%/VAR 17-03.10.29 | 2 000 000.00 | 1 997 320.00 | 0.72 |
| EUR	CREDIT SUISSE GROUP AG-REG-S 3.250%/VAR 20-02.04.26 | 900 000.00 | 976 347.00 | 0.35 |
| EUR	DANONE SA-REG-S-SUB 1.750%/VAR 17-PRP | 1 700 000.00 | 1 680 875.00 | 0.60 |
| EUR	DANSKE BANK AS-REG-S-SUB 2.500%/VAR 19-21.06.29 | 700 000.00 | 705 686.80 | 0.25 |
| EUR	DBS GROUP HOLDINGS LTD-REG-S-SUB 1.500%/VAR 18-11.04.28 | 1 700 000.00 | 1 673 041.50 | 0.60 |
| EUR	ELECTRICITE DE FRANCE SA-REG-S-SUB 5.000%/VAR 14-PRP | 1 300 000.00 | 1 335 362.60 | 0.48 |
| EUR	ENBW ENERGIE BADEN-WUERTT-REG-S-SUB 3.625%/VAR 14-02.04.76 | 700 000.00 | 709 471.00 | 0.26 |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S-SUB 2.625%/VAR 18-PRP | 4 000 000.00 | 4 095 200.00 | 1.47 |
| EUR	ING BANK NV-SUB 3.625%/VAR 14-25.02.26 | 3 000 000.00 | 3 040 260.00 | 1.09 |
| EUR	ING GROEP NV-SUB 3.000%/VAR 17-11.04.28 | 2 200 000.00 | 2 267 531.20 | 0.81 |
| EUR	JPMORGAN CHASE & CO-REG-S 1.047%/VAR 19-04.11.32 | 1 200 000.00 | 1 167 717.60 | 0.42 |
| EUR	LA BANQUE POSTALE-REG-S-SUB-2.750%/VAR 14-23.04.26 | 1 500 000.00 | 1 501 830.00 | 0.54 |
| EUR	NORDEA BANK ABP-REG-S-SUB 1.000%/VAR 16-07.09.26 | 3 600 000.00 | 3 546 504.00 | 1.27 |
| EUR	NORDEA BANK ABP-REG-S-SUB 3.500%/VAR 17-PRP | 400 000.00 | 372 000.00 | 0.13 |
| EUR	SVENSKA HANDELSBANKEN AB-REG-S-SUB 1.625%/VAR 18-05.03.29 | 1 550 000.00 | 1 563 615.20 | 0.56 |
| EUR	TOTAL SA-REG-S-SUB 2.250%/VAR 15-PRP | 900 000.00 | 884 250.00 | 0.32 |
| EUR	TOTAL SA-REG-S-SUB 3.369%/VAR 16-PRP | 3 000 000.00 | 3 119 796.00 | 1.12 |
| Total EUR |  | 42 878 269.47 | 15.40 |
| Total Medium term notes, floating rate |  | 42 878 269.47 | 15.40 |

Focused SICAV – Corporate Bond EUR Semi-Annual Report as of 30 April 2020
| Description | Quantity/ | Valuation in EUR | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |

Bonds, fixed rate
| EUR |  |
| --- | --- |
| EUR | ALTRIA GROUP INC 3.12500% 19-15.06.31 | 900 000.00 | 967 350.60 | 0.35 |
| EUR | ARGENTUM NETHERLANDS BV FOR GIV-REG-S 1.12500% 18-17.09.25 | 900 000.00 | 931 249.80 | 0.33 |
| EUR | ARGENTUM NETHERLANDS BV FOR GIV-REG-S 2.00000% 18-17.09.30 | 1 600 000.00 | 1 743 280.00 | 0.63 |
| EUR | AT&T INC 2.60000% 14-17.12.29 | 2 200 000.00 | 2 469 276.70 | 0.89 |
| EUR | AT&T INC 3.50000% 13-17.12.25 | 2 400 000.00 | 2 734 867.20 | 0.98 |
| EUR | BAYER CAPITAL CORP BV-REG-S 1.50000% 18-26.06.26 | 700 000.00 | 726 908.00 | 0.26 |
| EUR | BAYER CAPITAL CORP BV-REG-S 2.12500% 18-15.12.29 | 900 000.00 | 976 537.80 | 0.35 |
| EUR | BNP PARIBAS-REG-S 1.12500% 19-28.08.24 | 600 000.00 | 608 180.40 | 0.22 |
| EUR | COCA-COLA EUROPEAN PARTNERS PLC-REG-S 1.75000% 16-26.05.28 | 2 800 000.00 | 2 951 726.40 | 1.06 |
| EUR | CREDIT AGRICOLE SA-REG-S-SUB 2.62500% 15-17.03.27 | 2 550 000.00 | 2 769 473.40 | 1.00 |
| EUR | GIE PSA TRESORERIE 6.00000% 03-19.09.33 | 300 000.00 | 365 290.20 | 0.13 |
| EUR | IMPERIAL BRANDS FINANCE PLC-REG-S 1.37500% 17-27.01.25 | 2 300 000.00 | 2 287 515.60 | 0.82 |
| EUR | LANDESBANK BADEN-WUERTTEMBERG-REG-S-SUB 2.87500% 16-28.09.26 | 700 000.00 | 680 220.80 | 0.24 |
| EUR | MOLSON COORS BREWING CO 1.25000% 16-15.07.24 | 2 200 000.00 | 2 141 471.20 | 0.77 |
| EUR | NOVARTIS FINANCE SA-REG-S 1.37500% 18-14.08.30 | 500 000.00 | 550 601.00 | 0.20 |
| EUR | RABOBANK NEDERLAND NV 4.12500% 10-14.07.25 | 1 900 000.00 | 2 274 908.00 | 0.82 |
| EUR | THERMO FISHER SCIENTIFIC INC 0.75000% 16-12.09.24 | 1 500 000.00 | 1 511 590.35 | 0.54 |
| EUR | UBS GROUP AG-REG-S 1.50000% 16-30.11.24 | 800 000.00 | 818 368.00 | 0.29 |
| EUR | VONOVIA FINANCE BV-REG-S 1.50000% 18-14.01.28 | 700 000.00 | 717 278.80 | 0.26 |
| EUR | WINTERSHALL DEA FINANCE-REG-S 1.82300% 19-25.09.31 | 2 700 000.00 | 2 220 078.27 | 0.80 |
| Total EUR |  |  | 30 446 172.52 | 10.94 |
| Total Bonds, fixed rate |  | 30 446 172.52 | 10.94 |
| Bonds, zero coupon |  |  |  |
| EUR |  |  |  |
| EUR	GERMANY, REPUBLIC OF-REG-S 0.00000% 19-15.08.29 | 3 600 000.00 | 3 809 404.80 | 1.37 |
| EUR	GERMANY, REPUBLIC OF-REG-S 0.00000% 20-15.02.30 | 1 300 000.00 | 1 376 398.40 | 0.49 |
| Total EUR |  | 5 185 803.20 | 1.86 |
| Total Bonds, zero coupon |  | 5 185 803.20 | 1.86 |
| Bonds, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	ALLIANDER NV-REG-S-SUB 1.625%/VAR 18-PRP | 2 400 000.00 | 2 391 000.00 | 0.86 |
| EUR	ALLIANZ SE-REG-S-SUB 1.301%/3M EURIBOR+235BP 19-25.09.49 | 300 000.00 | 296 250.00 | 0.11 |
| EUR	BHP BILLITON FINANCE LTD-REG-S-SUB 5.625%/VAR 15-22.10.79 | 1 700 000.00 | 1 892 674.60 | 0.68 |
| EUR	BNP PARIBAS SA-REG-S-SUB 6.125%/VAR 15-PRP | 1 200 000.00 | 1 221 000.00 | 0.44 |
| EUR	CENTRICA PLC-REG-S-SUB 3.000%/VAR 15-10.04.76 | 400 000.00 | 391 944.00 | 0.14 |
| EUR	DEUTSCHE BAHN FINANCE GMBH-REG-S-SUB 0.950%/VAR 19-PRP | 1 900 000.00 | 1 862 000.00 | 0.67 |
| EUR	DEUTSCHE BAHN FINANCE GMBH-REG-S-SUB 1.600%/VAR 19-PRP | 400 000.00 | 393 040.00 | 0.14 |
| EUR	ENGIE SA-REG-S-SUB 1.375%/VAR 18-PRP | 1 700 000.00 | 1 662 464.00 | 0.60 |
| EUR	ENGIE SA-REG-S-SUB 3.87500%/VAR 14-PRP | 1 600 000.00 | 1 695 210.56 | 0.61 |
| EUR	HOLCIM FINANCE LUXEMBOURG SA-REG-S-SUB 3.000%/VAR 19-PRP | 1 000 000.00 | 977 220.00 | 0.35 |
| EUR	MERCK KGAA-REG-S-SUB 2.625%/VAR 14-12.12.74 | 900 000.00 | 906 195.60 | 0.33 |
| EUR	RABOBANK NEDERLAND NV-REG-S-SUB 2.500%/VAR 14-26.05.26 | 2 600 000.00 | 2 601 570.40 | 0.93 |
| EUR	RABOBANK NEDERLAND NV-REG-S-SUB 3.250%/VAR 19-PRP | 800 000.00 | 730 000.00 | 0.26 |
| EUR	SOCIETE GENERALE-REG-S-SUB 6.750%/VAR 14-PRP | 2 000 000.00 | 2 000 744.00 | 0.72 |
| EUR	SSE PLC-REG-S-SUB 2.375%/VAR 15-PRP | 700 000.00 | 687 128.40 | 0.25 |
| EUR	SWISS RE FINANCE LUX SA-REG-S-SUB 2.534%/VAR 19-30.04.50 | 1 800 000.00 | 1 876 773.60 | 0.67 |
| EUR	TELEFONICA EUROPE BV-REG-S-SUB 3.000%/VAR 18-PRP | 1 700 000.00 | 1 645 161.40 | 0.59 |
| EUR	UBS GROUP AG-REG-S-SUB 5.750%/VAR 15-PRP | 1 000 000.00 | 1 032 180.00 | 0.37 |
| EUR	VOLKSWAGEN INTERNATIONAL FIN NV-REG-S-SUB 2.500%/VAR 15-PRP | 800 000.00 | 771 660.80 | 0.28 |
| EUR	VOLKSWAGEN INTL FIN NV-REG-S-SUB 2.700%/VAR 17-PRP | 1 500 000.00 | 1 433 198.00 | 0.51 |
| EUR	VOLKSWAGEN INTL FINANCE NV-REG-S-SUB 3.375%/VAR 18-PRP | 1 800 000.00 | 1 736 022.71 | 0.62 |
| EUR	VOLKSWAGEN INTL FINANCE NV-REG-S-SUB 4.625%/VAR 18-PRP | 800 000.00 | 797 961.60 | 0.29 |
| EUR	ZUERCHER KANTONALBANK-REG-S-SUB 2.625%/VAR 15-15.06.27 | 400 000.00 | 403 856.80 | 0.14 |
| Total EUR |  | 29 405 256.47 | 10.56 |
| Total Bonds, floating rate | 29 405 256.47 | 10.56 |
| Total Transferable securities and money market instruments listed on an official stock exchange | 263 077 754.38 | 94.50 |
| Total investments in securities | 263 077 754.38 | 94.50 |
| Derivative instruments |  |  |
| Derivative instruments not listed on an official stock exchange and not traded on another regulated market |  |  |
| Credit default swaps* |  |  |
|  |  |  |
| EUR	ICE/ITRX.XOVER.32-V1 CDI PAYER 5.00000% 19-20.12.24	-3 000 000.00 | -49 774.00 | -0.02 |
| Total Credit default swaps | -49 774.00 | -0.02 |
| Total Derivative instruments not listed on an official stock exchange and not traded on another regulated market | -49 774.00 | -0.02 |
| Total Derivative instruments | -49 774.00 | -0.02 |
| * Positive nominal: the subfund is “Receiver of protection”, negative nominal: the subfund is “Seller of protection”. |  |  |

Focused SICAV – Corporate Bond EUR Semi-Annual Report as of 30 April 2020
| Description	Quantity/ | Valuation in EUR | as a % |
| --- | --- | --- |
| Nominal | Unrealized gain | of net |
|  | (loss) on Futures/ | assets |
|  | Forward |  |
|  | Exchange Contracts/ |  |
|  | Swaps (Note 1) |  |

Forward Foreign Exchange contracts
Forward Foreign Exchange contracts (Purchase/Sale)
| GBP | 76 269 600.00 | EUR | 85 146 725.09 | 4.5.2020 | 2 685 521.75 | 0.97 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 38 648 400.00 | EUR | 34 859 204.47 | 4.5.2020 | 426 470.69 | 0.15 |
| CHF | 4 721 300.00 | EUR | 4 463 054.29 | 4.5.2020 | 3 099.71 | 0.00 |
| CHF | 13 465 300.00 | EUR | 12 707 612.42 | 4.5.2020 | 30 002.96 | 0.01 |
| EUR | 6 175 519.54 | USD | 6 810 400.00 | 4.5.2020 | -42 320.32 | -0.02 |
| USD | 742 700.00 | EUR | 678 447.68 | 4.5.2020 | -368.61 | 0.00 |
| EUR | 137 953.33 | GBP | 121 200.00 | 4.5.2020 | -1 620.87 | 0.00 |
| GBP | 429 700.00 | EUR | 488 362.77 | 4.5.2020 | 6 480.74 | 0.00 |
| EUR | 59 520.47 | USD | 64 800.00 | 4.5.2020 | 358.60 | 0.00 |
| GBP | 1 007 300.00 | EUR | 1 146 104.22 | 4.5.2020 | 13 904.78 | 0.00 |
| EUR | 179 487.79 | GBP | 157 500.00 | 4.5.2020 | -1 889.57 | 0.00 |
| EUR | 489 640.85 | USD | 536 000.00 | 4.5.2020 | 277.21 | 0.00 |
| GBP | 2 107 300.00 | EUR | 2 417 901.17 | 4.5.2020 | 8 870.36 | 0.00 |
| USD | 1 048 800.00 | EUR | 962 637.94 | 4.5.2020 | -5 092.06 | 0.00 |
| CHF | 480 100.00 | EUR | 456 125.58 | 4.5.2020 | -1 970.89 | 0.00 |
| EUR | 247 822.56 | GBP | 215 600.00 | 4.5.2020 | -462.90 | 0.00 |
| CHF | 694 100.00 | EUR | 659 763.28 | 4.5.2020 | -3 173.46 | 0.00 |
| GBP | 79 319 600.00 | EUR | 90 792 192.20 | 2.6.2020 | 509 763.76 | 0.18 |
| USD | 33 028 700.00 | EUR | 30 375 324.30 | 2.6.2020 | -237 927.50 | -0.09 |
| CHF | 19 360 800.00 | EUR | 18 332 233.38 | 2.6.2020 | -13 723.32 | 0.01 |
| EUR | 32 849.27 | CHF | 34 700.00 | 2.6.2020 | 17.35 | 0.00 |
| EUR | 156 896.55 | GBP | 136 500.00 | 2.6.2020 | -223.72 | 0.00 |
| Total Forward Foreign Exchange contracts (Purchase/Sale) | 3 375 994.69 | 1.21 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 9 945 112.56 | 3.57 |
| Other assets and liabilities | 2 053 156.35 | 0.74 |
| Total net assets | 278 402 243.98 | 100.00 |

Focused SICAV – Corporate Bond EUR Semi-Annual Report as of 30 April 2020

Translation (ENDE, 2020-04-30):
# Focused SICAV – Corporate Bond EUR
| Wichtigste Daten |  |
| --- | --- |
| Datum | ISIN | 30.4.2020 | 31.10.2019 | 31.10.2018 |
| Nettovermögen in EUR |  | 278 402 243.98 | 689 876 626.27 | 317 781 843.25 |
| Klasse F-acc | LU0224579853 |  |  |  |
| Aktien im Umlauf |  | 630 538.5280 | 363 425.5220 | 192 548.4990 |
| Nettoinventarwert pro Aktie in EUR |  | 162.70 | 167.92 | 158.11 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 1 |  | 162.70 | 167.92 | 158.11 |
| Klasse (CHF hedged) F-acc | LU0581055034 |  |  |  |
| Aktien im Umlauf |  | 149 973.2830 | 345 452.2940 | 35 352.9280 |
| Nettoinventarwert pro Aktie in CHF |  | 132.24 | 136.78 | 129.41 |
| Ausgabe- und Rücknahmepreis pro Aktie in CHF 1 |  | 132.24 | 136.78 | 129.41 |
| Klasse (USD hedged) F-acc | LU1272229326 |  |  |  |
| Aktien im Umlauf |  | 277 433.7960 | 964 709.5140 | 342 286.3660 |
| Nettoinventarwert pro Aktie in USD |  | 122.11 | 124.42 | 113.78 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 122.11 | 124.42 | 113.78 |
| Klasse F-UKdist | LU0526609044 |  |  |  |
| Aktien im Umlauf |  | 283 284.8090 | 1 105 292.4470 | 628 027.6390 |
| Nettoinventarwert pro Aktie in EUR |  | 114.76 | 120.73 | 116.21 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 1 |  | 114.76 | 120.73 | 116.21 |
| Klasse (GBP hedged) F-UKdist | LU0526609127 |  |  |  |
| Aktien im Umlauf |  | 788 742.7930 | 2 753 748.4180 | 1 519 598.8100 |
| Nettoinventarwert pro Aktie in GBP |  | 103.06 | 107.98 | 102.69 |
| Ausgabe- und Rücknahmepreis pro Aktie in GBP 1 |  | 103.06 | 107.98 | 102.69 |
| 1  Siehe Erläuterung 1 |  |  |  |  |


## Struktur des Wertpapierbestandes
Geographische Aufteilung in % des Nettovermögens	
Frankreich	18.95
Niederlande	18.00
Vereinigte Staaten	14.81
Grossbritannien	10.76
Deutschland	10.20
Luxemburg	3.98
Spanien	3.88
Australien	3.26
Schweiz	1.91
Irland	1.74
Finnland	1.68
Italien	1.66
Japan	1.18
Singapur	0.60
Schweden	0.56
Belgien	0.51
Dänemark	0.25
Guernsey	0.25
Mexiko	0.17
Österreich	0.15
Wirtschaftliche Aufteilung in % des Nettovermögens	
Banken & Kreditinstitute	28.75
Finanz- & Beteiligungsgesellschaften	27.43
Telekommunikation	7.75
Energie- & Wasserversorgung	6.38
Versicherungen	4.84
Erdöl	3.05
Tabak & alkoholische Getränke	2.63
Baugewerbe & Baumaterial	2.47
Länder- & Zentralregierungen	1.86
Nahrungsmittel & Softdrinks	1.66
Elektrische Geräte & Komponenten	1.62
Verkehr & Transport	1.28
Pharmazeutik, Kosmetik & medizinische Produkte	1.27
Pfandbriefinstitute & Refinanzierungsgesellschaften	1.04
Diverse Dienstleistungen	0.91
Elektronik & Halbleiter	0.54
Fahrzeuge	0.37
Immobilien	0.26
Computer & Netzwerkausrüster	0.26
Diverse Handelsfirmen	0.13
Total	94.50
Total	94.50
Focused SICAV – Corporate Bond EUR Halbjahresbericht per 30. April 2020

## Nettovermögensaufstellung
Aktiva	30.4.2020
EUR
Wertpapierbestand, Einstandswert	270 000 693.59
| Wertpapierbestand, nicht realisierte Werterhöhung (-minderung) | 	-6 922 939.21	 |
| --- | --- |
| Total Wertpapierbestand (Erläuterung 1) | 263 077 754.38 |
| Bankguthaben, Sicht- und Fristgelder | 9 701 731.31 |
| Andere liquide Mittel (Margins) | 243 381.25 |
| Forderungen aus Wertpapierverkäufen (Erläuterung 1) | 2 429 939.67 |
| Forderungen aus Zeichnungen | 239 605.28 |
| Zinsforderungen aus liquiden Mitteln | 12.01 |
| Nicht realisierter Kursgewinn (-verlust) aus Devisenterminkontrakten (Erläuterung 1) | 3 375 994.69 |
| Nicht realisierter Kursgewinn (-verlust) aus Swaps (Erläuterung 1) | -49 774.00 |
| Total Aktiva | 279 018 644.59 |
|  |  |
| Passiva |  |
| Verbindlichkeiten aus Wertpapierkäufen (Erläuterung 1) | -258 604.80 |
| Verbindlichkeiten aus Rücknahmen | -323 852.19 |
| Rückstellungen für pauschale Verwaltungskommission (Erläuterung 2) | -21 952.23 |
| Rückstellungen für Abonnementsabgabe (Erläuterung 3) | -2 294.54 |
| Rückstellungen für sonstige Kommissionen und Gebühren (Erläuterung 2) | 	-9 696.85	 |
| Total Rückstellungen für Aufwendungen | -33 943.62 |
| Total Passiva | -616 400.61 |
|  |  |
| Nettovermögen am Ende der Berichtsperiode | 278 402 243.98 |
| Ertrags- und Aufwandsrechnung | EUR |
| Erträge | 1.11.2019-30.4.2020 |
| Zinsertrag auf liquide Mittel | 396.46 |
| Zinsen auf Wertpapiere | 3 208 340.84 |
| Zinsertrag auf Swaps (Erläuterung 1) | 188 363.79 |
| Erträge aus Securities Lending (Erläuterung 11) | 90 886.68 |
| Sonstige Erträge (Erläuterung 4) | 743 822.05 |
| Total Erträge | 4 231 809.82 |
|  |  |
| Aufwendungen |  |
| Zinsaufwand auf Swaps (Erläuterung 1) | -38 229.92 |
| Pauschale Verwaltungskommission (Erläuterung 2) | -302 565.67 |
| Abonnementsabgabe (Erläuterung 3) | -8 764.81 |
| Kosten aus Securities Lending (Erläuterung 11) | -36 354.67 |
| Sonstige Kommissionen und Gebühren (Erläuterung 2) | -7 813.19 |
| Zinsaufwand auf liquide Mittel und Kontokorrentkredit | -20 874.19 |
| Total Aufwendungen | -414 602.45 |
|  |  |
| Nettoerträge (-verluste) aus Anlagen | 3 817 207.37 |
|  |  |
| Realisierte Gewinne (Verluste) (Erläuterung 1) |  |
| Realisierter Kursgewinn (-verlust) aus marktbewerteten Wertpapieren ausser Optionen | 4 870 319.54 |
| Realisierter Kursgewinn (-verlust) aus renditebewerteten Wertpapieren und Geldmarktinstrumenten | 29 971.60 |
| Realisierter Kursgewinn (-verlust) aus Finanzterminkontrakten | -173 074.90 |
| Realisierter Kursgewinn (-verlust) aus Devisenterminkontrakten | 4 935 603.21 |
| Realisierter Kursgewinn (-verlust) aus Swaps | 706 227.68 |
| Realisierter Währungsgewinn (-verlust) | 1 789 308.82 |
| Total der realisierten Gewinne (Verluste) | 12 158 355.95 |
|  |  |
| Realisierter Nettogewinn (-verlust) der Berichtsperiode | 15 975 563.32 |
|  |  |
| Veränderungen der nicht realisierten Werterhöhung (-minderung) (Erläuterung 1) |  |
| Nicht realisierte Werterhöhung (-minderung) marktbewerteter Wertpapiere ausser Optionen | -20 511 950.14 |
| Nicht realisierte Werterhöhung (-minderung) renditebewerteter Wertpapiere und Geldmarktinstrumente | 4 871.68 |
| Nicht realisierte Werterhöhung (-minderung) von Finanzterminkontrakten | 61 050.00 |
| Nicht realisierte Werterhöhung (-minderung) von Devisenterminkontrakten | -4 587 799.88 |
| Nicht realisierte Werterhöhung (-minderung) von Swaps | -49 774.00 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | -25 083 602.34 |
|  |  |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | -9 108 039.02 |

Focused SICAV – Corporate Bond EUR Halbjahresbericht per 30. April 2020
| Veränderungen des Nettovermögens |  |
| --- | --- |
|  |  | EUR |
|  |  | 1.11.2019-30.4.2020 |
| Nettovermögen zu Beginn der Berichtsperiode |  | 689 876 626.27 |
| Zeichnungen |  | 108 721 507.54 |
| Rücknahmen |  | 	-502 241 345.76	 |
| Total Mittelzufluss (-abfluss) |  | -393 519 838.22 |
| Ausbezahlte Dividende |  | -8 846 505.05 |
| Nettoerträge (-verluste) aus Anlagen |  | 3 817 207.37 |
| Total der realisierten Gewinne (Verluste) |  | 12 158 355.95 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) |  | 	-25 083 602.34	 |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit |  | -9 108 039.02 |
| Nettovermögen am Ende der Berichtsperiode |  | 278 402 243.98 |
| Entwicklung der Aktien im Umlauf |  |  |
|  |  | 1.11.2019-30.4.2020 |
| Klasse |  | F-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode |  | 363 425.5220 |
| Anzahl der ausgegebenen Aktien |  | 387 807.1250 |
| Anzahl der zurückgegebenen Aktien |  | -120 694.1190 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode |  | 630 538.5280 |
| Klasse |  | (CHF hedged) F-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode |  | 345 452.2940 |
| Anzahl der ausgegebenen Aktien |  | 114 124.1210 |
| Anzahl der zurückgegebenen Aktien |  | -309 603.1320 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode |  | 149 973.2830 |
| Klasse |  | (USD hedged) F-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode |  | 964 709.5140 |
| Anzahl der ausgegebenen Aktien |  | 18 760.1240 |
| Anzahl der zurückgegebenen Aktien |  | -706 035.8420 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode |  | 277 433.7960 |
| Klasse |  | F-UKdist |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode |  | 1 105 292.4470 |
| Anzahl der ausgegebenen Aktien |  | 40.5670 |
| Anzahl der zurückgegebenen Aktien |  | -822 048.2050 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode |  | 283 284.8090 |
| Klasse |  | (GBP hedged) F-UKdist |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode |  | 2 753 748.4180 |
| Anzahl der ausgegebenen Aktien |  | 224 127.3910 |
| Anzahl der zurückgegebenen Aktien |  | -2 189 133.0160 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode |  | 788 742.7930 |
| Jährliche Ausschüttung 1 |  |  |
| Focused SICAV – Corporate Bond EUR	Ex-Date | Pay-Date | Währung	Betrag pro Aktie |
| F-UKdist	15.11.2019 | 20.11.2019 | EUR	2.28 |
| (GBP hedged) F-UKdist	15.11.2019 | 20.11.2019 | GBP	1.97 |
| 1  Siehe Erläuterung 5 |  |  |

Focused SICAV – Corporate Bond EUR Halbjahresbericht per 30. April 2020

## Aufstellung der Wertpapierbestände und anderer Nettovermögenswerte per 30. April 2020
| Bezeichnung | Anzahl/ | Bewertung in EUR | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
| Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden Notes, fester Zins |  |  |  |
| EUR |  |  |  |
| EUR	ANHEUSER-BUSCH INBEV SA/NV-REG-S 3.70000% 20-02.04.40 | 1 200 000.00 | 1 403 580.00 | 0.50 |
| EUR	AUSNET SERVICES HOLDINGS PTY LTD-REG-S 0.62500% 20-25.08.30 | 2 000 000.00 | 1 941 016.00 | 0.70 |
| EUR	BP CAPITAL MARKETS PLC-REG-S 2.82200% 20-07.04.32 | 2 000 000.00 | 2 196 300.00 | 0.79 |
| EUR	CIE DE SAINT-GOBAIN-REG-S 2.37500% 20-04.10.27 | 1 000 000.00 | 1 059 600.00 | 0.38 |
| EUR	ENEL FINANCE INTERNATIONAL NV-REG-S 1.37500% 16-01.06.26 | 4 372 000.00 | 4 559 219.97 | 1.64 |
| EUR	FORD MOTOR CREDIT CO LLC 1.51400% 19-17.02.23 | 600 000.00 | 534 000.00 | 0.19 |
| EUR	PHILIP MORRIS INTERNATIONAL INC 0.80000% 19-01.08.31 | 700 000.00 | 638 505.00 | 0.23 |
| Total EUR |  | 12 332 220.97 | 4.43 |
| Total Notes, fester Zins |  | 12 332 220.97 | 4.43 |
| Notes, variabler Zins |  |  |  |
| EUR |  |  |  |
| EUR	AUSTRALIA & NZ BANKING GRP-REG-S-SUB 1.125%/VAR 19-21.11.29 | 1 200 000.00 | 1 155 804.00 | 0.42 |
| Total EUR |  | 1 155 804.00 | 0.42 |
| Total Notes, variabler Zins |  | 1 155 804.00 | 0.42 |
| Medium-Term Notes, fester Zins |  |  |  |
| EUR |  |  |  |
| EUR	ABERTIS INFRAESTRUCTURAS SA-REG-S 2.37500% 19-27.09.27 | 600 000.00 | 583 764.48 | 0.21 |
| EUR	ABERTIS INFRAESTRUCTURAS SA-REG-S 3.00000% 19-27.03.31 | 1 300 000.00 | 1 293 138.60 | 0.46 |
| EUR	ABN AMRO BANK NV-REG-S-SUB 7.12500% 12-06.07.22 | 1 600 000.00 | 1 785 770.08 | 0.64 |
| EUR	AIB GROUP PLC-REG-S 1.25000% 19-28.05.24 | 700 000.00 | 681 243.20 | 0.24 |
| EUR	ALLIANZ FINANCE II BV-REG-S 1.50000% 19-15.01.30 | 800 000.00 | 884 774.40 | 0.32 |
| EUR	ANGLO AMERICAN CAPITAL PLC-REG-S 1.62500% 17-18.09.25 | 900 000.00 | 909 720.00 | 0.33 |
| EUR	APRR SA-REG-S 1.62500% 17-13.01.32 | 900 000.00 | 947 646.00 | 0.34 |
| EUR	ASSICURAZIONI GENERALI SPA-REG-S-SUB 4.12500% 14-04.05.26 | 1 200 000.00 | 1 300 500.00 | 0.47 |
| EUR	AUTOSTRADE PER L’ITALIA SPA 4.37500% 10-16.09.25 | 700 000.00 | 727 365.80 | 0.26 |
| EUR	BANCO BILBAO VIZCAYA ARGENTARIA-REG-S 0.37500% 19-02.10.24 | 2 500 000.00 | 2 390 465.00 | 0.86 |
| EUR	BANK OF AMERICA CORP-REG-S 1.37500% 15-26.03.25 | 2 100 000.00 | 2 158 375.80 | 0.78 |
| EUR	BANQUE FEDER DU CREDIT MUTUEL-REG-S 1.62500% 16-19.01.26 | 2 600 000.00 | 2 766 140.00 | 0.99 |
| EUR	BANQUE FEDER DU CREDIT MUTUEL-REG-S-SUB 2.37500% 16-24.03.26 | 1 600 000.00 | 1 658 560.00 | 0.60 |
| EUR	BANQUE FEDERATIVE DU CREDIT MUTUEL 2.62500% 14-18.03.24 | 800 000.00 | 866 758.40 | 0.31 |
| EUR	BARCLAYS BANK PLC-SUB 6.62500% 11-30.03.22 | 800 000.00 | 863 926.40 | 0.31 |
| EUR	BAT INTERNATIONAL FINANCE PLC-REG-S 0.87500% 15-13.10.23 | 700 000.00 | 691 987.80 | 0.25 |
| EUR	BNP PARIBAS SA 2.37500% 14-20.05.24 | 1 000 000.00 | 1 081 478.00 | 0.39 |
| EUR	BNP PARIBAS SA-REG-S 1.50000% 17-17.11.25 | 1 100 000.00 | 1 133 825.00 | 0.41 |
| EUR	BNP PARIBAS SA-REG-S 1.50000% 17-23.05.28 | 200 000.00 | 207 472.40 | 0.07 |
| EUR	BNP PARIBAS SA-REG-S 1.12500% 18-11.06.26 | 800 000.00 | 806 241.60 | 0.29 |
| EUR	BP CAPITAL MARKETS PLC-REG-S 1.57300% 15-16.02.27 | 700 000.00 | 703 116.40 | 0.25 |
| EUR	BP CAPITAL MARKETS PLC-REG-S 1.63700% 17-26.06.29 | 1 600 000.00 | 1 589 001.60 | 0.57 |
| EUR	BP CAPITAL MARKETS PLC-REG-S 1.59400% 18-03.07.28 | 700 000.00 | 697 515.00 | 0.25 |
| EUR	BPCE SA 2.87500% 13-16.01.24 | 400 000.00 | 432 984.00 | 0.16 |
| EUR	BRITISH TELECOMMUNICATIONS PLC-REG-S 1.12500% 16-10.03.23 | 400 000.00 | 404 595.20 | 0.15 |
| EUR	CIE DE SAINT-GOBAIN SA-REG-S 1.87500% 18-21.09.28 | 1 300 000.00 | 1 323 800.40 | 0.48 |
| EUR	CIE DE SAINT-GOBAIN SA-REG-S 1.87500% 19-15.03.31 | 900 000.00 | 901 598.40 | 0.32 |
| EUR	CIE DE SAINT-GOBAIN-REG-S 1.12500% 18-23.03.26 | 500 000.00 | 495 134.52 | 0.18 |
| EUR	CITIGROUP INC-REG-S 2.12500% 14-10.09.26 | 800 000.00 | 854 873.60 | 0.31 |
| EUR	CITIGROUP INC-REG-S 1.50000% 16-26.10.28 | 1 900 000.00 | 1 962 859.59 | 0.71 |
| EUR	CREDIT AGRICOLE SA LONDON 2.37500% 14-20.05.24 | 500 000.00 | 540 824.00 | 0.19 |
| EUR	CREDIT AGRICOLE SA LONDON-REG-S 1.87500% 16-20.12.26 | 2 800 000.00 | 2 951 480.00 | 1.06 |
| EUR	CREDIT SUISSE GRP FDNG GUERNSEY-REG-S 1.25000% 15-14.04.22 | 700 000.00 | 702 170.00 | 0.25 |
| EUR	DEUTSCHE BAHN FINANCE GMBH-REG-S 0.75000% 20-16.07.35 | 700 000.00 | 711 100.60 | 0.26 |
| EUR	DEUTSCHE BANK AG-REG-S 1.62500% 19-12.02.21 | 1 800 000.00 | 1 783 663.20 | 0.64 |
| EUR	DEUTSCHE BANK-REG-S 2.37500% 13-11.01.23 | 1 400 000.00 | 1 391 986.40 | 0.50 |
| EUR	DEUTSCHE TELEKOM AG-REG-S 2.25000% 19-29.03.39 | 1 400 000.00 | 1 643 636.40 | 0.59 |
| EUR	DEUTSCHE TELEKOM INTL FINANCE BV-REG-S 1.50000% 16-03.04.28 | 2 000 000.00 | 2 127 536.00 | 0.76 |
| EUR	DEUTSCHE TELEKOM INTL FINANCE BV-REG-S 1.37500% 17-30.01.27 | 400 000.00 | 423 100.00 | 0.15 |
| EUR	DEUTSCHE TELEKOM INTL FIN BV-REG-S 2.00000% 18-01.12.29 | 1 000 000.00 | 1 107 063.70 | 0.40 |
| EUR	DIAGEO FINANCE PLC-REG-S 1.75000% 14-23.09.24 | 500 000.00 | 525 085.00 | 0.19 |
| EUR	DIAGEO FINANCE PLC-REG-S 1.50000% 18-22.10.27 | 2 600 000.00 | 2 731 807.00 | 0.98 |
| EUR	EDP FINANCE BV-REG-S 2.62500% 14-18.01.22 | 1 000 000.00 | 1 034 370.00 | 0.37 |
| EUR	ENAGAS FINANCIACIONES SAU-REG-S 1.25000% 15-06.02.25 | 2 900 000.00 | 3 001 285.40 | 1.08 |
| EUR	ENGIE SA-REG-S 1.75000% 20-27.03.28 | 1 800 000.00 | 1 959 778.80 | 0.70 |
| EUR	ENGIE SA-REG-S 2.37500% 14-19.05.26 | 600 000.00 | 669 637.98 | 0.24 |
| EUR	EUROGRID GMBH-REG-S 1.50000% 16-18.04.28 | 2 400 000.00 | 2 520 720.00 | 0.91 |
| EUR	FORD MOTOR CREDIT CO LLC 3.02100% 19-06.03.24 | 1 200 000.00 | 1 063 358.40 | 0.38 |
| EUR	GE CAPITAL EUROPEAN FUNDING 4.35000% 06-03.11.21 | 800 000.00 | 832 650.00 | 0.30 |
| EUR	GE CAPITAL EUROPEAN FUNDING 4.62500% 07-22.02.27 | 1 600 000.00 | 1 844 240.00 | 0.66 |
| EUR	GE CAPITAL EUROPEAN FUNDING-REG-S 0.80000% 15-21.01.22 | 1 500 000.00 | 1 483 404.00 | 0.53 |
| EUR	GENERAL MOTORS FINANCIAL CO INC-REG-S 0.95500% 16-07.09.23 | 1 600 000.00 | 1 412 995.20 | 0.51 |
| EUR	GENERAL MOTORS FINANCIAL CO INC-REG-S 1.69400% 18-26.03.25 | 1 800 000.00 | 1 560 736.80 | 0.56 |
| EUR	GLENCORE FINANCE EUROPE SA-REG-S 1.75000% 15-17.03.25 | 3 300 000.00 | 3 227 800.33 | 1.16 |
| EUR	GOLDMAN SACHS GROUP INC 2.87500% 14-03.06.26 | 2 600 000.00 | 2 845 731.20 | 1.02 |
| EUR	GOLDMAN SACHS GROUP INC-REG-S 1.25000% 16-01.05.25 | 700 000.00 | 701 533.00 | 0.25 |
| EUR	HEIDELBERGCEMENT AG-REG-S 1.50000% 16-07.02.25 | 1 300 000.00 | 1 286 948.00 | 0.46 |
| EUR	HEIDELBERGCEMENT FIN LUX SA-REG-S 0.50000% 17-18.01.21 | 200 000.00 | 198 584.80 | 0.07 |
| EUR	HOLCIM FINANCE LUXEMBOURG SA-REG-S 2.25000% 16-26.05.28 | 1 000 000.00 | 1 035 130.00 | 0.37 |
| EUR	HSBC HOLDINGS PLC-SUB 3.00000% 15-30.06.25 | 1 200 000.00 | 1 275 571.20 | 0.46 |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S 3.50000% 13-01.02.21 | 400 000.00 | 409 374.40 | 0.15 |
| EUR	INNOGY FINANCE II BV-REG-S 5.75000% 03-14.02.33 | 900 000.00 | 1 391 355.00 | 0.50 |
| EUR	INTERNATIONAL BUSINESS MACHINES CORP 0.87500% 19-31.01.25 | 700 000.00 | 716 053.80 | 0.26 |
| EUR	JP MORGAN CHASE & CO 2.75000% 13-01.02.23 | 1 900 000.00 | 2 010 523.00 | 0.72 |

Focused SICAV – Corporate Bond EUR Halbjahresbericht per 30. April 2020
|  | Bezeichnung | Anzahl/ | Bewertung in EUR | in % des |
| --- | --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
|  |  |  |  |  |
| EUR | JPMORGAN CHASE & CO-REG-S 1.50000% 15-27.01.25 | 1 600 000.00 | 1 656 320.00 | 0.60 |
| EUR | JPMORGAN CHASE & CO-REG-S 1.50000% 16-29.10.26 | 1 100 000.00 | 1 152 894.60 | 0.41 |
| EUR | KONINKLIJKE KPN NV-REG-S 1.12500% 16-11.09.28 | 200 000.00 | 201 244.00 | 0.07 |
| EUR | LANDESBANK BADEN-WUERTTEMBERG-REG-S-SUB 3.62500% 15-16.06.25 | 1 600 000.00 | 1 641 232.00 | 0.59 |
| EUR | LOGICOR FINANCING SARL-REG-S 3.25000% 18-13.11.28 | 1 000 000.00 | 1 023 968.00 | 0.37 |
| EUR | LOGICOR FINANCING SARL-REG-S 1.62500% 19-15.07.27 | 2 300 000.00 | 2 184 080.00 | 0.78 |
| EUR | MORGAN STANLEY 1.75000% 15-30.01.25 | 2 200 000.00 | 2 287 670.00 | 0.82 |
| EUR | MORGAN STANLEY 1.75000% 16-11.03.24 | 900 000.00 | 933 318.00 | 0.34 |
| EUR | MORGAN STANLEY 1.87500% 17-27.04.27 | 1 400 000.00 | 1 484 938.00 | 0.53 |
| EUR | NATWEST MARKETS PLC-REG-S 1.00000% 19-28.05.24 | 1 100 000.00 | 1 069 602.60 | 0.38 |
| EUR | OP CORPORATE BANK PLC-REG-S-SUB 5.75000% 12-28.02.22 | 700 000.00 | 758 134.72 | 0.27 |
| EUR | ORANGE SA 1.12500% 19-15.07.24 | 800 000.00 | 825 656.00 | 0.30 |
| EUR | ORANGE SA-REG-S 1.00000% 18-12.09.25 | 1 400 000.00 | 1 448 314.00 | 0.52 |
| EUR | ORANGE SA-REG-S 1.37500% 18-20.03.28 | 1 800 000.00 | 1 929 351.60 | 0.69 |
| EUR | ORIGIN ENERGY FINANCE LTD-REG-S 1.00000% 19-17.09.29 | 2 400 000.00 | 2 076 868.80 | 0.75 |
| EUR | PETROLEOS MEXICANOS-REG-S 2.50000% 17-21.08.21 | 500 000.00 | 473 437.50 | 0.17 |
| EUR | PHILIP MORRIS INTERNATIONAL INC 2.87500% 14-03.03.26 | 2 000 000.00 | 2 180 880.00 | 0.78 |
| EUR | RAIFFEISEN BANK INTL AG-SUB 6.62500% 11-18.05.21 | 400 000.00 | 415 289.60 | 0.15 |
| EUR | REPSOL INTERNATIONAL FINANCE BV-REG-S 2.25000% 14-10.12.26 | 300 000.00 | 314 820.00 | 0.11 |
| EUR | SANOFI-REG-S 0.87500% 19-21.03.29 | 900 000.00 | 955 997.10 | 0.34 |
| EUR | SANOFI-REG-S 1.37500% 18-21.03.30 | 1 500 000.00 | 1 669 347.00 | 0.60 |
| EUR | SANTANDER CONSUMER FINANCE SA-REG-S 0.87500% 18-30.05.23 | 1 100 000.00 | 1 092 138.95 | 0.39 |
| EUR | SCHAEFFLER AG-REG-S 1.87500% 19-26.03.24 | 700 000.00 | 664 125.00 | 0.24 |
| EUR | SCHAEFFLER AG-REG-S 2.87500% 19-26.03.27 | 400 000.00 | 368 000.00 | 0.13 |
| EUR | SHELL INTERNATIONAL FINANCE BV 2.50000% 14-24.03.26 | 1 500 000.00 | 1 663 248.00 | 0.60 |
| EUR | SHELL INTERNATIONAL FINANCE BV-REG-S 0.75000% 16-15.08.28 | 1 000 000.00 | 996 800.00 | 0.36 |
| EUR | SKY PLC-REG-S 2.50000% 14-15.09.26 | 1 000 000.00 | 1 115 296.90 | 0.40 |
| EUR | SOCIETE GENERALE-REG-S 1.25000% 19-15.02.24 | 1 900 000.00 | 1 914 132.20 | 0.69 |
| EUR | SUMITOMO MITSUI FIN GP INC-REG-S 0.93400% 17-11.10.24 | 700 000.00 | 694 939.00 | 0.25 |
| EUR | SUMITOMO MITSUI FIN GP INC-REG-S 0.81900% 18-23.07.23 | 2 600 000.00 | 2 573 433.75 | 0.92 |
| EUR | TELEFONICA EMISIONES SA-REG-S 1.46000% 16-13.04.26 | 1 300 000.00 | 1 348 001.33 | 0.48 |
| EUR | TELEFONICA EMISIONES SAU-REG-S 0.75000% 16-13.04.22 | 1 100 000.00 | 1 101 991.00 | 0.40 |
| EUR | UBS GROUP AG-REG-S 1.25000% 16-01.09.26 | 2 040 000.00 | 2 077 576.80 | 0.75 |
| EUR | UNICREDITO ITALIANO SPA 1.00000% 18-18.01.23 | 2 700 000.00 | 2 598 393.60 | 0.93 |
| EUR | UNION FENOSA FINANCE BV-REG-S 1.25000% 20-15.01.26 | 1 300 000.00 | 1 336 296.00 | 0.48 |
| EUR | VEOLIA ENVIRONNEMENT-REG-S 0.89200% 19-14.01.24 | 1 600 000.00 | 1 629 040.00 | 0.59 |
| EUR | VEOLIA ENVIRONNEMENT SA-REG-S 1.25000% 20-15.04.28 | 700 000.00 | 731 899.00 | 0.26 |
| EUR | VERIZON COMMUNICATIONS INC 3.25000% 14-17.02.26 | 2 500 000.00 | 2 905 000.00 | 1.04 |
| EUR | VINCI SA-REG-S 1.62500% 19-18.01.29 | 1 700 000.00 | 1 802 204.00 | 0.65 |
| EUR | VODAFONE GROUP PLC-REG-S 1.60000% 16-29.07.31 | 600 000.00 | 632 238.00 | 0.23 |
| EUR | VODAFONE GROUP PLC-REG-S 1.50000% 17-24.07.27 | 1 100 000.00 | 1 158 515.60 | 0.42 |
| EUR | VOLKSWAGEN BANK GMBH-REG-S 1.25000% 17-15.12.25 | 200 000.00 | 195 878.40 | 0.07 |
| EUR | VOLKSWAGEN FINANCIAL SERVICES AG 1.37500% 18-16.10.23 | 1 700 000.00 | 1 703 933.80 | 0.61 |
| EUR | VOLKSWAGEN INTERNATIONAL FIN NV-REG-S 1.62500% 15-16.01.30 | 150 000.00 | 153 194.40 | 0.06 |
| EUR | VOLKSWAGEN LEASING GMBH-REG-S 1.12500% 17-04.04.24 | 700 000.00 | 691 879.42 | 0.25 |
| EUR | WELLS FARGO & CO-REG-S 2.62500% 12-16.08.22 | 700 000.00 | 727 312.60 | 0.26 |
| Total EUR |  |  | 140 784 696.55 | 50.57 |
| Total Medium-Term Notes, fester Zins |  | 140 784 696.55 | 50.57 |
| Medium-Term Notes, Nullcoupon |  |  |  |
| EUR |  |  |  |
| EUR	E.ON SE-REG-S 0.00000% 19-28.08.24 | 900 000.00 | 889 531.20 | 0.32 |
| Total EUR |  | 889 531.20 | 0.32 |
| Total Medium-Term Notes, Nullcoupon |  | 889 531.20 | 0.32 |
| Medium-Term Notes, variabler Zins |  |  |  |
| EUR |  |  |  |
| EUR	ALLIANZ FINANCE II-SUB 5.750%/3M EURIBOR+334.9BP 11-08.07.41 | 600 000.00 | 630 718.80 | 0.23 |
| EUR	ALLIANZ SE-REG-S-SUB 4.750%/3M EURIBOR+360BP 13-PRP | 2 600 000.00 | 2 878 876.00 | 1.03 |
| EUR	AVIVA PLC-REG-S-SUB 3.375%/VAR 15-04.12.45 | 1 500 000.00 | 1 604 013.00 | 0.58 |
| EUR	AVIVA PLC-SUB 6.125%/VAR 13-05.07.43 | 1 800 000.00 | 2 034 334.80 | 0.73 |
| EUR	AXA SA-REG-S-SUB 3.375%/VAR 16-06.07.47 | 1 300 000.00 | 1 442 142.00 | 0.52 |
| EUR	AXA SA-REG-S-SUB 3.941%/VAR 14-PRP | 500 000.00 | 540 000.00 | 0.19 |
| EUR	BARCLAYS PLC-REG-S 1.375%/VAR 18-24.01.26 | 500 000.00 | 490 723.57 | 0.18 |
| EUR	BNP PARIBAS SA-REG-S 1.125%/VAR 20-17.04.29 | 800 000.00 | 798 560.00 | 0.29 |
| EUR	BNP PARIBAS-REG-S 2.125%/VAR 19-23.01.27 | 1 300 000.00 | 1 377 425.40 | 0.50 |
| EUR	CITIGROUP INC-SUB 4.250%/FLR 05-25.02.30 | 400 000.00 | 444 668.00 | 0.16 |
| EUR	COMMONWEALTH BK OF AUSTRLIA-REG-S-SUB 1.936%/VAR 17-03.10.29 | 2 000 000.00 | 1 997 320.00 | 0.72 |
| EUR	CREDIT SUISSE GROUP AG-REG-S 3.250%/VAR 20-02.04.26 | 900 000.00 | 976 347.00 | 0.35 |
| EUR	DANONE SA-REG-S-SUB 1.750%/VAR 17-PRP | 1 700 000.00 | 1 680 875.00 | 0.60 |
| EUR	DANSKE BANK AS-REG-S-SUB 2.500%/VAR 19-21.06.29 | 700 000.00 | 705 686.80 | 0.25 |
| EUR	DBS GROUP HOLDINGS LTD-REG-S-SUB 1.500%/VAR 18-11.04.28 | 1 700 000.00 | 1 673 041.50 | 0.60 |
| EUR	ELECTRICITE DE FRANCE SA-REG-S-SUB 5.000%/VAR 14-PRP | 1 300 000.00 | 1 335 362.60 | 0.48 |
| EUR	ENBW ENERGIE BADEN-WUERTT-REG-S-SUB 3.625%/VAR 14-02.04.76 | 700 000.00 | 709 471.00 | 0.26 |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S-SUB 2.625%/VAR 18-PRP | 4 000 000.00 | 4 095 200.00 | 1.47 |
| EUR	ING BANK NV-SUB 3.625%/VAR 14-25.02.26 | 3 000 000.00 | 3 040 260.00 | 1.09 |
| EUR	ING GROEP NV-SUB 3.000%/VAR 17-11.04.28 | 2 200 000.00 | 2 267 531.20 | 0.81 |
| EUR	JPMORGAN CHASE & CO-REG-S 1.047%/VAR 19-04.11.32 | 1 200 000.00 | 1 167 717.60 | 0.42 |
| EUR	LA BANQUE POSTALE-REG-S-SUB-2.750%/VAR 14-23.04.26 | 1 500 000.00 | 1 501 830.00 | 0.54 |
| EUR	NORDEA BANK ABP-REG-S-SUB 1.000%/VAR 16-07.09.26 | 3 600 000.00 | 3 546 504.00 | 1.27 |
| EUR	NORDEA BANK ABP-REG-S-SUB 3.500%/VAR 17-PRP | 400 000.00 | 372 000.00 | 0.13 |
| EUR	SVENSKA HANDELSBANKEN AB-REG-S-SUB 1.625%/VAR 18-05.03.29 | 1 550 000.00 | 1 563 615.20 | 0.56 |
| EUR	TOTAL SA-REG-S-SUB 2.250%/VAR 15-PRP | 900 000.00 | 884 250.00 | 0.32 |
| EUR	TOTAL SA-REG-S-SUB 3.369%/VAR 16-PRP | 3 000 000.00 | 3 119 796.00 | 1.12 |
| Total EUR |  | 42 878 269.47 | 15.40 |
| Total Medium-Term Notes, variabler Zins |  | 42 878 269.47 | 15.40 |

Focused SICAV – Corporate Bond EUR Halbjahresbericht per 30. April 2020
| Bezeichnung | Anzahl/ | Bewertung in EUR | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
| Anleihen, fester Zins |  |  |  |
| EUR |  |  |  |
| EUR	ALTRIA GROUP INC 3.12500% 19-15.06.31 | 900 000.00 | 967 350.60 | 0.35 |
| EUR	ARGENTUM NETHERLANDS BV FOR GIV-REG-S 1.12500% 18-17.09.25 | 900 000.00 | 931 249.80 | 0.33 |
| EUR	ARGENTUM NETHERLANDS BV FOR GIV-REG-S 2.00000% 18-17.09.30 | 1 600 000.00 | 1 743 280.00 | 0.63 |
| EUR	AT&T INC 2.60000% 14-17.12.29 | 2 200 000.00 | 2 469 276.70 | 0.89 |
| EUR	AT&T INC 3.50000% 13-17.12.25 | 2 400 000.00 | 2 734 867.20 | 0.98 |
| EUR	BAYER CAPITAL CORP BV-REG-S 1.50000% 18-26.06.26 | 700 000.00 | 726 908.00 | 0.26 |
| EUR	BAYER CAPITAL CORP BV-REG-S 2.12500% 18-15.12.29 | 900 000.00 | 976 537.80 | 0.35 |
| EUR	BNP PARIBAS-REG-S 1.12500% 19-28.08.24 | 600 000.00 | 608 180.40 | 0.22 |
| EUR	COCA-COLA EUROPEAN PARTNERS PLC-REG-S 1.75000% 16-26.05.28 | 2 800 000.00 | 2 951 726.40 | 1.06 |
| EUR	CREDIT AGRICOLE SA-REG-S-SUB 2.62500% 15-17.03.27 | 2 550 000.00 | 2 769 473.40 | 1.00 |
| EUR	GIE PSA TRESORERIE 6.00000% 03-19.09.33 | 300 000.00 | 365 290.20 | 0.13 |
| EUR	IMPERIAL BRANDS FINANCE PLC-REG-S 1.37500% 17-27.01.25 | 2 300 000.00 | 2 287 515.60 | 0.82 |
| EUR	LANDESBANK BADEN-WUERTTEMBERG-REG-S-SUB 2.87500% 16-28.09.26 | 700 000.00 | 680 220.80 | 0.24 |
| EUR	MOLSON COORS BREWING CO 1.25000% 16-15.07.24 | 2 200 000.00 | 2 141 471.20 | 0.77 |
| EUR	NOVARTIS FINANCE SA-REG-S 1.37500% 18-14.08.30 | 500 000.00 | 550 601.00 | 0.20 |
| EUR	RABOBANK NEDERLAND NV 4.12500% 10-14.07.25 | 1 900 000.00 | 2 274 908.00 | 0.82 |
| EUR	THERMO FISHER SCIENTIFIC INC 0.75000% 16-12.09.24 | 1 500 000.00 | 1 511 590.35 | 0.54 |
| EUR	UBS GROUP AG-REG-S 1.50000% 16-30.11.24 | 800 000.00 | 818 368.00 | 0.29 |
| EUR	VONOVIA FINANCE BV-REG-S 1.50000% 18-14.01.28 | 700 000.00 | 717 278.80 | 0.26 |
| EUR	WINTERSHALL DEA FINANCE-REG-S 1.82300% 19-25.09.31 | 2 700 000.00 | 2 220 078.27 | 0.80 |
| Total EUR |  | 30 446 172.52 | 10.94 |
| Total Anleihen, fester Zins |  | 30 446 172.52 | 10.94 |
| Anleihen, Nullcoupon |  |  |  |
| EUR |  |  |  |
| EUR	GERMANY, REPUBLIC OF-REG-S 0.00000% 19-15.08.29 | 3 600 000.00 | 3 809 404.80 | 1.37 |
| EUR	GERMANY, REPUBLIC OF-REG-S 0.00000% 20-15.02.30 | 1 300 000.00 | 1 376 398.40 | 0.49 |
| Total EUR |  | 5 185 803.20 | 1.86 |
| Total Anleihen, Nullcoupon |  | 5 185 803.20 | 1.86 |
| Anleihen, variabler Zins |  |  |  |
| EUR |  |  |  |
| EUR	ALLIANDER NV-REG-S-SUB 1.625%/VAR 18-PRP | 2 400 000.00 | 2 391 000.00 | 0.86 |
| EUR	ALLIANZ SE-REG-S-SUB 1.301%/3M EURIBOR+235BP 19-25.09.49 | 300 000.00 | 296 250.00 | 0.11 |
| EUR	BHP BILLITON FINANCE LTD-REG-S-SUB 5.625%/VAR 15-22.10.79 | 1 700 000.00 | 1 892 674.60 | 0.68 |
| EUR	BNP PARIBAS SA-REG-S-SUB 6.125%/VAR 15-PRP | 1 200 000.00 | 1 221 000.00 | 0.44 |
| EUR	CENTRICA PLC-REG-S-SUB 3.000%/VAR 15-10.04.76 | 400 000.00 | 391 944.00 | 0.14 |
| EUR	DEUTSCHE BAHN FINANCE GMBH-REG-S-SUB 0.950%/VAR 19-PRP | 1 900 000.00 | 1 862 000.00 | 0.67 |
| EUR	DEUTSCHE BAHN FINANCE GMBH-REG-S-SUB 1.600%/VAR 19-PRP | 400 000.00 | 393 040.00 | 0.14 |
| EUR	ENGIE SA-REG-S-SUB 1.375%/VAR 18-PRP | 1 700 000.00 | 1 662 464.00 | 0.60 |
| EUR	ENGIE SA-REG-S-SUB 3.87500%/VAR 14-PRP | 1 600 000.00 | 1 695 210.56 | 0.61 |
| EUR	HOLCIM FINANCE LUXEMBOURG SA-REG-S-SUB 3.000%/VAR 19-PRP | 1 000 000.00 | 977 220.00 | 0.35 |
| EUR	MERCK KGAA-REG-S-SUB 2.625%/VAR 14-12.12.74 | 900 000.00 | 906 195.60 | 0.33 |
| EUR	RABOBANK NEDERLAND NV-REG-S-SUB 2.500%/VAR 14-26.05.26 | 2 600 000.00 | 2 601 570.40 | 0.93 |
| EUR	RABOBANK NEDERLAND NV-REG-S-SUB 3.250%/VAR 19-PRP | 800 000.00 | 730 000.00 | 0.26 |
| EUR	SOCIETE GENERALE-REG-S-SUB 6.750%/VAR 14-PRP | 2 000 000.00 | 2 000 744.00 | 0.72 |
| EUR	SSE PLC-REG-S-SUB 2.375%/VAR 15-PRP | 700 000.00 | 687 128.40 | 0.25 |
| EUR	SWISS RE FINANCE LUX SA-REG-S-SUB 2.534%/VAR 19-30.04.50 | 1 800 000.00 | 1 876 773.60 | 0.67 |
| EUR	TELEFONICA EUROPE BV-REG-S-SUB 3.000%/VAR 18-PRP | 1 700 000.00 | 1 645 161.40 | 0.59 |
| EUR	UBS GROUP AG-REG-S-SUB 5.750%/VAR 15-PRP | 1 000 000.00 | 1 032 180.00 | 0.37 |
| EUR	VOLKSWAGEN INTERNATIONAL FIN NV-REG-S-SUB 2.500%/VAR 15-PRP | 800 000.00 | 771 660.80 | 0.28 |
| EUR	VOLKSWAGEN INTL FIN NV-REG-S-SUB 2.700%/VAR 17-PRP | 1 500 000.00 | 1 433 198.00 | 0.51 |
| EUR	VOLKSWAGEN INTL FINANCE NV-REG-S-SUB 3.375%/VAR 18-PRP | 1 800 000.00 | 1 736 022.71 | 0.62 |
| EUR	VOLKSWAGEN INTL FINANCE NV-REG-S-SUB 4.625%/VAR 18-PRP | 800 000.00 | 797 961.60 | 0.29 |
| EUR	ZUERCHER KANTONALBANK-REG-S-SUB 2.625%/VAR 15-15.06.27 | 400 000.00 | 403 856.80 | 0.14 |
| Total EUR |  | 29 405 256.47 | 10.56 |
| Total Anleihen, variabler Zins |  | 29 405 256.47 | 10.56 |
| Total Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden |  | 263 077 754.38 | 94.50 |
| Total des Wertpapierbestandes |  | 263 077 754.38 | 94.50 |


## Derivative Instrumente
Derivative Instrumente, die nicht an einer offiziellen Börse oder einem anderen geregelten Markt gehandelt werden
Credit-Default-Swaps*
| EUR | ICE/ITRX.XOVER.32-V1 CDI PAYER 5.00000% 19-20.12.24 | -3 000 000.00 | -49 774.00 | -0.02 |
| --- | --- | --- | --- | --- |
| Total Credit-Default-Swaps | -49 774.00 | -0.02 |
| Total Derivative Instrumente, die nicht an einer offiziellen Börse oder einem anderen geregelten Markt gehandelt werden | -49 774.00 | -0.02 |
| Total Derivative Instrumente | -49 774.00 | -0.02 |
| * Nominal positiv: der Subfonds ist “Receiver of protection”, Nominal negativ: der Subfonds ist “Seller of protection”. |  |  |

Focused SICAV – Corporate Bond EUR Halbjahresbericht per 30. April 2020
| Bezeichnung	Anzahl/ | Bewertung in EUR | in % des |
| --- | --- | --- |
| Nominal | NR Kursgewinn | Netto- |
|  | (-verlust) auf Futures/ | vermögens |
|  | Devisentermin- |  |
|  | kontrakten/ |  |
|  | Swaps (Erl. 1) |  |

Devisenterminkontrakte
Devisenterminkontrakte (Kauf/Verkauf)
| GBP | 76 269 600.00 | EUR | 85 146 725.09 | 4.5.2020 | 2 685 521.75 | 0.97 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 38 648 400.00 | EUR | 34 859 204.47 | 4.5.2020 | 426 470.69 | 0.15 |
| CHF | 4 721 300.00 | EUR | 4 463 054.29 | 4.5.2020 | 3 099.71 | 0.00 |
| CHF | 13 465 300.00 | EUR | 12 707 612.42 | 4.5.2020 | 30 002.96 | 0.01 |
| EUR | 6 175 519.54 | USD | 6 810 400.00 | 4.5.2020 | -42 320.32 | -0.02 |
| USD | 742 700.00 | EUR | 678 447.68 | 4.5.2020 | -368.61 | 0.00 |
| EUR | 137 953.33 | GBP | 121 200.00 | 4.5.2020 | -1 620.87 | 0.00 |
| GBP | 429 700.00 | EUR | 488 362.77 | 4.5.2020 | 6 480.74 | 0.00 |
| EUR | 59 520.47 | USD | 64 800.00 | 4.5.2020 | 358.60 | 0.00 |
| GBP | 1 007 300.00 | EUR | 1 146 104.22 | 4.5.2020 | 13 904.78 | 0.00 |
| EUR | 179 487.79 | GBP | 157 500.00 | 4.5.2020 | -1 889.57 | 0.00 |
| EUR | 489 640.85 | USD | 536 000.00 | 4.5.2020 | 277.21 | 0.00 |
| GBP | 2 107 300.00 | EUR | 2 417 901.17 | 4.5.2020 | 8 870.36 | 0.00 |
| USD | 1 048 800.00 | EUR | 962 637.94 | 4.5.2020 | -5 092.06 | 0.00 |
| CHF | 480 100.00 | EUR | 456 125.58 | 4.5.2020 | -1 970.89 | 0.00 |
| EUR | 247 822.56 | GBP | 215 600.00 | 4.5.2020 | -462.90 | 0.00 |
| CHF | 694 100.00 | EUR | 659 763.28 | 4.5.2020 | -3 173.46 | 0.00 |
| GBP | 79 319 600.00 | EUR | 90 792 192.20 | 2.6.2020 | 509 763.76 | 0.18 |
| USD | 33 028 700.00 | EUR | 30 375 324.30 | 2.6.2020 | -237 927.50 | -0.09 |
| CHF | 19 360 800.00 | EUR | 18 332 233.38 | 2.6.2020 | -13 723.32 | 0.01 |
| EUR | 32 849.27 | CHF | 34 700.00 | 2.6.2020 | 17.35 | 0.00 |
| EUR | 156 896.55 | GBP | 136 500.00 | 2.6.2020 | -223.72 | 0.00 |
| Total Devisenterminkontrakte (Kauf/Verkauf) | 3 375 994.69 | 1.21 |
|  |  |  |
| Bankguthaben, Sicht- und Fristgelder und andere liquide Mittel | 9 945 112.56 | 3.57 |
| Andere Aktiva und Passiva | 2 053 156.35 | 0.74 |
| Total des Nettovermögens | 278 402 243.98 | 100.00 |

Focused SICAV – Corporate Bond EUR Halbjahresbericht per 30. April 2020