# Focused SICAV – US Corporate Bond Sustainable USD
| Most important figures |  |
| --- | --- |
| Date | ISIN | 30.4.2020 | 31.10.2019 | 31.10.2018 |
| Net assets in USD |  | 1 332 302 150.40 | 627 370 969.98 | 351 833 801.97 |
| Class F-acc | LU1484152423 |  |  |  |
| Shares outstanding |  | 4 061 303.2950 | 2 038 153.1940 | 1 042 273.4960 |
| Net asset value per share in USD |  | 115.23 | 112.41 | 101.40 |
| Issue and redemption price per share in USD 1 |  | 116.77 | 112.41 | 101.73 |
| Class (CHF hedged) F-acc | LU1484152696 |  |  |  |
| Shares outstanding |  | 3 913 504.9170 | 1 898 644.9080 | 1 836 248.6110 |
| Net asset value per share in CHF |  | 103.96 | 103.06 | 96.20 |
| Issue and redemption price per share in CHF 1 |  | 105.35 | 103.06 | 96.52 |
| Class (EUR hedged) F-acc | LU1484153157 |  |  |  |
| Shares outstanding |  | 3 110 613.0480 | 1 370 281.7660 | 347 956.0000 |
| Net asset value per share in EUR |  | 107.53 | 106.37 | 98.84 |
| Issue and redemption price per share in EUR 1 |  | 108.97 | 106.37 | 99.17 |
| Class (GBP hedged) F-acc | LU1865229824 |  |  |  |
| Shares outstanding |  | 236 933.6090 | 63 326.8020 | 20 828.0000 |
| Net asset value per share in GBP |  | 109.96 | 108.45 | 99.57 |
| Issue and redemption price per share in GBP 1 |  | 111.43 | 108.45 | 99.90 |
| Class (CHF hedged) F-UKdist | LU1490621650 |  |  |  |
| Shares outstanding |  | 444 070.0000 | 290 510.0000 | 312 035.0000 |
| Net asset value per share in CHF |  | 94.64 | 96.73 | 93.27 |
| Issue and redemption price per share in CHF 1 |  | 95.91 | 96.73 | 93.58 |
| 1  See note 1 |  |  |  |  |


## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
United States	67.85
United Kingdom	4.98
Japan	2.68
Canada	2.66
The Netherlands	2.40
Australia	2.08
France	1.63
Ireland	0.61
Guernsey	0.40
Switzerland	0.38
Spain	0.16
China	0.16
Luxembourg	0.14
Finland	0.08
South Korea	0.08
Italy	0.07
Total	86.36
Economic Breakdown as a % of net assets	
Banks & credit institutions	27.25
Finance & holding companies	18.63
Internet, software & IT services	4.83
Pharmaceuticals, cosmetics & medical products	4.64
Energy & water supply	4.52
Telecommunications	3.86
Computer hardware & network equipment providers	3.36
Insurance	2.79
Traffic & transportation	2.19
Healthcare & social services	1.65
Electrical devices & components	1.60
Graphic design, publishing & media	1.37
Retail trade, department stores	1.36
Electronics & semiconductors	1.30
Biotechnology	1.27
Real Estate	1.15
Petroleum	1.14
Food & soft drinks	0.90
Miscellaneous services	0.71
Mortgage & funding institutions	0.50
Miscellaneous consumer goods	0.39
Lodging, catering & leisure	0.27
Chemicals	0.17
Packaging industry	0.16
Vehicles	0.15
Miscellaneous trading companies	0.12
Building industry & materials	0.08
Total	86.36
Focused SICAV – US Corporate Bond Sustainable USD Semi-Annual Report as of 30 April 2020

## Statement of Net Assets
Assets	30.4.2020
USD
Investments in securities, cost	1 124 381 496.08
| Investments in securities, unrealized appreciation (depreciation) | 	26 156 596.00	 |
| --- | --- |
| Total investments in securities (Note 1) | 1 150 538 092.08 |
| Cash at banks, deposits on demand and deposit accounts | 134 490 651.80 |
| Other liquid assets (Margins) | 623 532.60 |
| Receivable on subscriptions | 44 634 252.85 |
| Interest receivable on securities | 8 746 920.97 |
| Other assets | 26 774.12 |
| Unrealized gain (loss) on financial futures (Note 1) | -4 218.75 |
| Unrealized gain (loss) on forward foreign exchange contracts (Note 1) | 4 681 791.01 |
| Total Assets | 1 343 737 796.68 |
|  |  |
| Liabilities |  |
| Payable on securities purchases (Note 1) | -10 923 804.43 |
| Payable on redemptions | -363 408.13 |
| Provisions for flat fee (Note 2) | -114 467.46 |
| Provisions for taxe d’abonnement (Note 3) | -10 980.52 |
| Provisions for other commissions and fees (Note 2) | 	-22 985.74	 |
| Total provisions | -148 433.72 |
| Total Liabilities | -11 435 646.28 |
|  |  |
| Net assets at the end of the period | 1 332 302 150.40 |
| Statement of Operations | USD |
| Income | 1.11.2019-30.4.2020 |
| Interest on liquid assets | 110 441.71 |
| Interest on securities | 13 792 825.29 |
| Income on securities lending (Note 11) | 27 208.00 |
| Other income (Note 4) | 4 274 629.11 |
| Total income | 18 205 104.11 |
|  |  |
| Expenses |  |
| Flat fee (Note 2) | -1 093 317.28 |
| Taxe d’abonnement (Note 3) | -49 945.70 |
| Cost on securities lending (Note 11) | -10 883.20 |
| Other commissions and fees (Note 2) | -23 145.86 |
| Interest on cash and bank overdraft | -12 722.01 |
| Total expenses | -1 190 014.05 |
|  |  |
| Net income (loss) on investments | 17 015 090.06 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | 1 694 021.43 |
| Realized gain (loss) on financial futures | -980 338.95 |
| Realized gain (loss) on forward foreign exchange contracts | -15 845 478.37 |
| Realized gain (loss) on foreign exchange | 12 002 853.39 |
| Total realized gain (loss) | -3 128 942.50 |
|  |  |
| Net realized gain (loss) of the period | 13 886 147.56 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | 2 841 489.55 |
| Unrealized appreciation (depreciation) on financial futures | -82 781.25 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | 1 491 890.56 |
| Total changes in unrealized appreciation (depreciation) | 4 250 598.86 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | 18 136 746.42 |

Focused SICAV – US Corporate Bond Sustainable USD Semi-Annual Report as of 30 April 2020
| Statement of Changes in Net Assets |  |
| --- | --- |
|  |  | USD |
|  |  | 1.11.2019-30.4.2020 |
| Net assets at the beginning of the period |  | 627 370 969.98 |
| Subscriptions |  | 818 233 469.84 |
| Redemptions |  | 	-130 584 698.55	 |
| Total net subscriptions (redemptions) |  | 687 648 771.29 |
| Dividend paid |  | -854 337.29 |
| Net income (loss) on investments |  | 17 015 090.06 |
| Total realized gain (loss) |  | -3 128 942.50 |
| Total changes in unrealized appreciation (depreciation) |  | 	4 250 598.86	 |
| Net increase (decrease) in net assets as a result of operations |  | 18 136 746.42 |
| Net assets at the end of the period |  | 1 332 302 150.40 |
| 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 |  | 2 038 153.1940 |
| Number of shares issued |  | 2 599 360.3700 |
| Number of shares redeemed |  | -576 210.2690 |
| Number of shares outstanding at the end of the period |  | 4 061 303.2950 |
| Class |  | (CHF hedged) F-acc |
| Number of shares outstanding at the beginning of the period |  | 1 898 644.9080 |
| Number of shares issued |  | 2 274 490.1950 |
| Number of shares redeemed |  | -259 630.1860 |
| Number of shares outstanding at the end of the period |  | 3 913 504.9170 |
| Class |  | (EUR hedged) F-acc |
| Number of shares outstanding at the beginning of the period |  | 1 370 281.7660 |
| Number of shares issued |  | 2 048 216.6370 |
| Number of shares redeemed |  | -307 885.3550 |
| Number of shares outstanding at the end of the period |  | 3 110 613.0480 |
| Class |  | (GBP hedged) F-acc |
| Number of shares outstanding at the beginning of the period |  | 63 326.8020 |
| Number of shares issued |  | 189 037.0000 |
| Number of shares redeemed |  | -15 430.1930 |
| Number of shares outstanding at the end of the period |  | 236 933.6090 |
| Class |  | (CHF hedged) F-UKdist |
| Number of shares outstanding at the beginning of the period |  | 290 510.0000 |
| Number of shares issued |  | 170 924.0000 |
| Number of shares redeemed |  | -17 364.0000 |
| Number of shares outstanding at the end of the period |  | 444 070.0000 |
| Annual Distribution 1 |  |  |
| Focused SICAV – US Corporate Bond Sustainable USD	Ex-Date | Pay-Date | Currency	Amount per share |
| (CHF hedged) F-UKdist	15.11.2019 | 20.11.2019 | CHF	2.91 |
| 1  See note 5 |  |  |

Focused SICAV – US Corporate Bond Sustainable USD 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 USD | 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 |  |  |  |
| USD |  |  |  |
| USD	3M CO 2.00000% 19-14.02.25 | 5 000 000.00 | 5 197 839.50 | 0.39 |
| USD	ABBOTT LABORATORIES 3.75000% 16-30.11.26 | 648 000.00 | 748 028.58 | 0.06 |
| USD	ABBOTT LABORATORIES 3.87500% 17-15.09.25 | 1 000 000.00 | 1 145 568.20 | 0.09 |
| USD	ABBVIE INC 3.20000% 15-06.11.22 | 2 000 000.00 | 2 092 016.20 | 0.16 |
| USD	ABBVIE INC 3.60000% 15-14.05.25 | 3 000 000.00 | 3 261 344.70 | 0.24 |
| USD	ABBVIE INC 4.25000% 18-14.11.28 | 1 000 000.00 | 1 151 688.20 | 0.09 |
| USD	ADOBE INC 2.30000% 20-01.02.30 | 10 000 000.00 | 10 509 084.00 | 0.79 |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 3.50000% 17-26.05.22 | 3 800 000.00 | 3 535 418.70 | 0.27 |
| USD	ALLERGAN FUNDING SCS 3.45000% 15-15.03.22 | 1 863 000.00 | 1 909 400.99 | 0.14 |
| USD	AMAZON.COM INC 2.80000% 18-22.08.24 | 1 000 000.00 | 1 079 449.90 | 0.08 |
| USD	AMERICAN EXPRESS CO 3.00000% 17-30.10.24 | 5 000 000.00 | 5 256 721.00 | 0.39 |
| USD	AMERICAN EXPRESS CO 3.70000% 18-03.08.23 | 5 000 000.00 | 5 304 766.50 | 0.40 |
| USD	AMERICAN EXPRESS CO 2.50000% 19-30.07.24 | 1 000 000.00 | 1 028 802.20 | 0.08 |
| USD	AMERICAN INTERNATIONAL GROUP 4.87500% 12-01.06.22 | 2 000 000.00 | 2 133 414.60 | 0.16 |
| USD	AMERICAN INTERNATIONAL GROUP INC 4.25000% 19-15.03.29 | 2 400 000.00 | 2 628 688.80 | 0.20 |
| USD	AMGEN INC 2.20000% 20-21.02.27 | 7 000 000.00 | 7 172 910.50 | 0.54 |
| USD	AMGEN INC 2.70000% 15-01.05.22 | 2 050 000.00 | 2 112 631.81 | 0.16 |
| USD	ANZ NEW ZEALAND INT’L LTD/LDN-144A 3.40000% 19-19.03.24 | 5 000 000.00 | 5 243 700.00 | 0.39 |
| USD	AON CORP 3.50000% 14-14.06.24 | 2 000 000.00 | 2 088 668.80 | 0.16 |
| USD	APPLE INC 1.80000% 19-11.09.24 | 5 000 000.00 | 5 184 355.00 | 0.39 |
| USD	APPLE INC 2.05000% 19-11.09.26 | 3 000 000.00 | 3 163 102.50 | 0.24 |
| USD	APPLE INC 2.45000% 16-04.08.26 | 2 806 000.00 | 3 014 402.75 | 0.23 |
| USD	APPLE INC 2.50000% 15-09.02.25 | 3 000 000.00 | 3 208 793.70 | 0.24 |
| USD	APPLE INC 2.85000% 17-11.05.24 | 2 000 000.00 | 2 140 786.40 | 0.16 |
| USD	APPLE INC 3.20000% 15-13.05.25 | 3 000 000.00 | 3 308 285.10 | 0.25 |
| USD	ASTRAZENECA PLC 2.37500% 17-12.06.22 | 1 533 000.00 | 1 572 246.79 | 0.12 |
| USD	ASTRAZENECA PLC 3.12500% 17-12.06.27 | 2 000 000.00 | 2 183 408.20 | 0.16 |
| USD	ASTRAZENECA PLC 3.50000% 18-17.08.23 | 3 000 000.00 | 3 217 795.80 | 0.24 |
| USD	AT&T INC 2.95000% 19-15.07.26 | 5 000 000.00 | 5 240 289.00 | 0.39 |
| USD	AT&T INC 3.80000% 16-15.03.22 | 2 000 000.00 | 2 087 636.80 | 0.16 |
| USD	AT&T INC 3.87500% 19-15.01.26 | 2 000 000.00 | 2 171 790.40 | 0.16 |
| USD	AT&T INC 4.25000% 17-01.03.27 | 4 000 000.00 | 4 408 145.60 | 0.33 |
| USD	AT&T INC 4.30000% 18-15.02.30 | 1 000 000.00 | 1 124 378.50 | 0.08 |
| USD	AT&T INC 4.35000% 19-01.03.29 | 1 500 000.00 | 1 685 586.14 | 0.13 |
| USD	AUTODESK INC 2.85000% 20-15.01.30 | 9 385 000.00 | 9 820 683.61 | 0.74 |
| USD	BANK OF NOVA SCOTIA 2.00000% 19-15.11.22 | 10 000 000.00 | 10 135 433.00 | 0.76 |
| USD	BARCLAYS PLC 3.20000% 16-10.08.21 | 5 380 000.00 | 5 437 231.90 | 0.41 |
| USD	BARCLAYS PLC 3.68400% 17-10.01.23 | 4 100 000.00 | 4 191 581.70 | 0.31 |
| USD	BECTON DICKINSON AND CO 3.36300% 17-06.06.24 | 2 000 000.00 | 2 126 071.80 | 0.16 |
| USD	BP CAPITAL MARKETS AMERICA INC 4.23400% 18-06.11.28 | 3 000 000.00 | 3 335 388.90 | 0.25 |
| USD	BP CAPITAL MARKETS AMERICA INC 2.93700% 20-06.04.23 | 1 500 000.00 | 1 548 097.80 | 0.12 |
| USD	BP CAPITAL MARKETS PLC 2.52000% 18-19.09.22 | 5 881 000.00 | 5 981 950.89 | 0.45 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.87500% 18-15.01.27 | 2 000 000.00 | 2 084 957.00 | 0.16 |
| USD	CANADIAN NATURAL RESOURCES LTD 3.85000% 17-01.06.27 | 2 000 000.00 | 1 839 295.76 | 0.14 |
| USD	CAPITAL ONE FINANCIAL CORP 3.30000% 17-30.10.24 | 1 000 000.00 | 1 019 464.70 | 0.08 |
| USD	CAPITAL ONE FINANCIAL CORP 3.20000% 18-30.01.23 | 2 000 000.00 | 2 036 266.60 | 0.15 |
| USD	CCO LLC/CAPITAL 4.90800% 16-23.07.25 | 3 000 000.00 | 3 385 958.40 | 0.25 |
| USD	CCO LLC/CAPITAL 5.05000% 19-30.03.29 | 1 000 000.00 | 1 174 477.90 | 0.09 |
| USD	CENOVUS ENERGY INC 4.25000% 17-15.04.27 | 1 000 000.00 | 786 596.39 | 0.06 |
| USD	CENTERPOINT ENERGY INC 4.25000% 18-01.11.28 | 3 000 000.00 | 3 277 783.80 | 0.25 |
| USD	CIGNA CORP 2.40000% 20-15.03.30 | 5 500 000.00 | 5 559 168.45 | 0.42 |
| USD	CIGNA CORP 3.75000% 19-15.07.23 | 2 938 000.00 | 3 138 410.38 | 0.24 |
| USD	CIGNA CORP 4.12500% 19-15.11.25 | 4 000 000.00 | 4 484 711.60 | 0.34 |
| USD	CITIGROUP INC 3.30000% 15-27.04.25 | 1 591 000.00 | 1 683 914.08 | 0.13 |
| USD	CITIGROUP INC-SUB 4.45000% 15-29.09.27 | 1 750 000.00 | 1 917 020.53 | 0.14 |
| USD	CITIGROUP INC-SUB 5.50000% 13-13.09.25 | 2 500 000.00 | 2 865 193.25 | 0.21 |
| USD	CMS ENERGY CORP 2.95000% 16-15.02.27 | 2 000 000.00 | 2 068 123.80 | 0.15 |
| USD	COMCAST CORP 3.15000% 16-01.03.26 | 3 000 000.00 | 3 273 040.80 | 0.25 |
| USD	COMCAST CORP 3.95000% 18-15.10.25 | 6 000 000.00 | 6 754 632.60 | 0.51 |
| USD	COMCAST CORP 4.15000% 18-15.10.28 | 5 000 000.00 | 5 853 050.50 | 0.44 |
| USD	CREDIT AGRICOLE SA-144A-SUB 4.37500% 15-17.03.25 | 3 000 000.00 | 3 173 819.10 | 0.24 |
| USD	CREDIT SUISSE GRP FDNG GUERNSEY 3.75000% 16-26.03.25 | 5 000 000.00 | 5 298 380.00 | 0.40 |
| USD	CVS HEALTH CORP 3.70000% 18-09.03.23 | 3 000 000.00 | 3 178 817.40 | 0.24 |
| USD	CVS HEALTH CORP 4.10000% 18-25.03.25 | 2 000 000.00 | 2 206 208.60 | 0.17 |
| USD	CVS HEALTH CORP 4.30000% 18-25.03.28 | 6 500 000.00 | 7 370 782.90 | 0.55 |
| USD	DANONE SA-144A 2.07770% 16-02.11.21 | 2 000 000.00 | 2 021 953.60 | 0.15 |
| USD	ENERGY TRANSFER OPERATING LP 5.25000% 19-15.04.29 | 1 000 000.00 | 1 004 145.60 | 0.08 |
| USD	ENERGY TRANSFER PARTNERS LP 4.05000% 15-15.03.25 | 1 840 000.00 | 1 806 385.96 | 0.14 |
| USD	ENI SPA-144A 4.75000% 18-12.09.28 | 850 000.00 | 890 412.57 | 0.07 |
| USD	ENTERPRISE PRODUCTS OPERATING LLC 2.85000% 16-15.04.21 | 2 000 000.00 | 2 001 695.00 | 0.15 |
| USD	ENTERPRISE PRODUCTS OPERATING LLC 3.12500% 19-31.07.29 | 2 000 000.00 | 1 995 412.00 | 0.15 |
| USD	EQUINIX INC 2.62500% 19-18.11.24 | 5 000 000.00 | 5 139 750.00 | 0.39 |
| USD	FEDEX CORP 3.10000% 19-05.08.29 | 3 000 000.00 | 3 035 556.30 | 0.23 |
| USD	FIFTH THIRD BANK 3.35000% 18-26.07.21 | 2 000 000.00 | 2 047 627.20 | 0.15 |
| USD	FISERV INC 3.50000% 19-01.07.29 | 5 000 000.00 | 5 482 122.00 | 0.41 |
| USD	GE CAPITAL INTL FUNDING CO 3.37300% 16-15.11.25 | 500 000.00 | 514 934.45 | 0.04 |
| USD	GENERAL MOTORS FINANCIAL CO INC 4.20000% 16-01.03.21 | 3 445 000.00 | 3 421 541.17 | 0.26 |
| USD	GENERAL MOTORS FINANCIAL CO INC 5.25000% 16-01.03.26 | 1 000 000.00 | 960 008.41 | 0.07 |
| USD	GENERAL MOTORS FINANCIAL CO INC 3.55000% 19-08.07.22 | 2 000 000.00 | 1 933 682.62 | 0.14 |
| USD	GENERAL MOTORS FINANCIAL CO INC 2.90000% 20-26.02.25 | 4 000 000.00 | 3 624 877.88 | 0.27 |
| USD	GEORGIA POWER CO 3.25000% 16-01.04.26 | 5 000 000.00 | 5 377 839.00 | 0.40 |
| USD	GILEAD SCIENCES INC 3.50000% 14-01.02.25 | 2 000 000.00 | 2 199 873.80 | 0.16 |
| USD	GILEAD SCIENCES INC 2.95000% 16-01.03.27 | 2 000 000.00 | 2 184 783.40 | 0.16 |
| USD	GLAXOSMITHKLINE CAPITAL INC 3.37500% 18-15.05.23 | 3 000 000.00 | 3 207 149.40 | 0.24 |
| USD	GOLDMAN SACHS GROUP INC-SUB 4.25000% 15-21.10.25 | 2 000 000.00 | 2 146 946.20 | 0.16 |
| USD	GOLDMAN SACHS GROUP INC/THE 3.00000% 17-26.04.22 | 4 450 000.00 | 4 508 074.73 | 0.34 |
| USD	GOLDMAN SACHS GROUP INC 2.60000% 20-07.02.30 | 2 000 000.00 | 1 986 476.52 | 0.15 |
| USD	GOLDMAN SACHS GROUP INC/THE 3.50000% 16-16.11.26 | 1 000 000.00 | 1 062 580.10 | 0.08 |

Focused SICAV – US Corporate Bond Sustainable USD Semi-Annual Report as of 30 April 2020
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | HCA INC 4.75000% 12-01.05.23 | 3 000 000.00 | 3 197 523.60 | 0.24 |
| USD | HCP INC 3.25000% 19-15.07.26 | 2 000 000.00 | 2 007 798.20 | 0.15 |
| USD | HEWLETT PACKARD ENTERPRISE CO STEP-UP/DOWN 16-15.10.20 | 3 000 000.00 | 3 018 958.20 | 0.23 |
| USD | HEWLETT PACKARD ENTERPRISE CO STEP-UP/DOWN 16-15.10.22 | 5 000 000.00 | 5 247 225.50 | 0.39 |
| USD | HOME DEPOT INC/THE 3.90000% 18-06.12.28 | 5 372 000.00 | 6 211 146.15 | 0.47 |
| USD | HSBC HOLDINGS PLC 2.95000% 16-25.05.21 | 3 000 000.00 | 3 044 439.30 | 0.23 |
| USD | HSBC HOLDINGS PLC 3.60000% 16-25.05.23 | 2 650 000.00 | 2 779 945.67 | 0.21 |
| USD | IBM CREDIT LLC 2.20000% 17-08.09.22 | 1 290 000.00 | 1 329 238.58 | 0.10 |
| USD | INTEL CORP 2.45000% 19-15.11.29 | 3 000 000.00 | 3 178 099.50 | 0.24 |
| USD | INTEL CORP 3.75000% 20-25.03.27 | 3 500 000.00 | 3 983 921.90 | 0.30 |
| USD | INTERNATIONAL BUSINESS MACHINES CORP 3.37500% 13-01.08.23 | 2 000 000.00 | 2 154 368.40 | 0.16 |
| USD | INTERNATIONAL BUSINESS MACHINES CORP 3.45000% 16-19.02.26 | 3 000 000.00 | 3 323 889.00 | 0.25 |
| USD | INTERNATIONAL BUSINESS MACHINES CORP 3.50000% 19-15.05.29 | 5 000 000.00 | 5 645 830.50 | 0.42 |
| USD | JPMORGAN CHASE & CO 3.20000% 13-25.01.23 | 2 000 000.00 | 2 087 515.80 | 0.16 |
| USD | JPMORGAN CHASE & CO 3.20000% 16-15.06.26 | 5 234 000.00 | 5 578 838.43 | 0.42 |
| USD | KIA MOTORS CORP-144A 3.00000% 17-25.04.23 | 1 000 000.00 | 1 006 471.90 | 0.08 |
| USD | KINDER MORGAN INC 4.30000% 18-01.03.28 | 2 500 000.00 | 2 653 464.50 | 0.20 |
| USD | KROGER CO 3.50000% 16-01.02.26 | 3 000 000.00 | 3 274 857.00 | 0.25 |
| USD | LINCOLN NATIONAL CORP 3.35000% 15-09.03.25 | 2 000 000.00 | 2 094 189.40 | 0.16 |
| USD | LINCOLN NATIONAL CORP 3.80000% 18-01.03.28 | 2 000 000.00 | 2 095 729.20 | 0.16 |
| USD | MARATHON OIL CORP 4.40000% 17-15.07.27 | 1 500 000.00 | 1 163 524.19 | 0.09 |
| USD | MASTERCARD INC 2.00000% 19-03.03.25 | 5 000 000.00 | 5 198 645.00 | 0.39 |
| USD | MASTERCARD INC 2.95000% 16-21.11.26 | 3 000 000.00 | 3 289 398.90 | 0.25 |
| USD | MCDONALD’S CORP 2.62500% 11-15.01.22 | 2 000 000.00 | 2 049 381.80 | 0.15 |
| USD | METLIFE INC 3.00000% 15-01.03.25 | 2 000 000.00 | 2 132 294.40 | 0.16 |
| USD | MITSUBISHI UFJ FINANCIAL GROUP INC 3.85000% 16-01.03.26 | 1 000 000.00 | 1 088 780.00 | 0.08 |
| USD | MITSUBISHI UFJ FINANCIAL GROUP INC 3.45500% 18-02.03.23 | 1 000 000.00 | 1 040 820.00 | 0.08 |
| USD | MITSUBISHI UFJ FINANCIAL GROUP INC 3.76100% 18-26.07.23 | 9 500 000.00 | 10 020 125.00 | 0.75 |
| USD | MITSUBISHI UFJ FINANCIAL GRP INC 2.19300% 20-25.02.25 | 5 000 000.00 | 5 019 100.00 | 0.38 |
| USD | MIZUHO FINANCIAL GROUP INC-144A 2.63200% 16-12.04.21 | 2 432 000.00 | 2 445 181.44 | 0.18 |
| USD | MIZUHO FINANCIAL GROUP INC 2.60100% 17-11.09.22 | 1 500 000.00 | 1 520 325.00 | 0.11 |
| USD | MORGAN STANLEY 3.62500% 17-20.01.27 | 4 000 000.00 | 4 351 288.40 | 0.33 |
| USD | MORGAN STANLEY-SUB 4.87500% 12-01.11.22 | 3 000 000.00 | 3 197 483.70 | 0.24 |
| USD | MPLX LP 4.80000% 18-15.02.29 | 1 000 000.00 | 1 005 344.30 | 0.08 |
| USD | MPLX LP 4.87500% 16-01.06.25 | 500 000.00 | 487 854.20 | 0.04 |
| USD | NATIONAL AUSTRALIA BANK LTD/NY 2.50000% 16-12.07.26 | 2 000 000.00 | 2 060 960.00 | 0.15 |
| USD | NOBLE ENERGY INC 3.85000% 17-15.01.28 | 3 000 000.00 | 2 396 634.24 | 0.18 |
| USD | NOKIA OYJ 3.37500% 17-12.06.22 | 1 000 000.00 | 1 007 500.00 | 0.08 |
| USD | NORFOLK SOUTHERN CORP 3.25000% 11-01.12.21 | 2 000 000.00 | 2 052 544.00 | 0.15 |
| USD | NVIDIA CORP 2.85000% 20-01.04.30 | 3 000 000.00 | 3 248 988.90 | 0.24 |
| USD | OCCIDENTAL PETROLEUM CORP 3.50000% 19-15.08.29 | 3 000 000.00 | 2 070 000.00 | 0.16 |
| USD | ORACLE CORP 2.50000% 15-15.05.22 | 2 000 000.00 | 2 057 873.00 | 0.15 |
| USD | ORACLE CORP 2.50000% 20-01.04.25 | 4 000 000.00 | 4 208 301.20 | 0.32 |
| USD | ORACLE CORP 2.65000% 16-15.07.26 | 1 500 000.00 | 1 596 844.50 | 0.12 |
| USD | ORACLE CORP 2.80000% 20-01.04.27 | 1 400 000.00 | 1 502 303.18 | 0.11 |
| USD | ORACLE CORP 3.25000% 17-15.11.27 | 6 500 000.00 | 7 157 465.90 | 0.54 |
| USD | PEPSICO INC 2.85000% 16-24.02.26 | 7 000 000.00 | 7 639 086.70 | 0.57 |
| USD | PNC BANK NATIONAL ASSOCIATION-SUB 4.20000% 13-01.11.25 | 2 000 000.00 | 2 261 821.40 | 0.17 |
| USD | PNC FINANCIAL SERVICS GROUP 2.20000% 19-01.11.24 | 3 000 000.00 | 3 108 608.40 | 0.23 |
| USD | PPL CAPITAL FUNDING INC 4.20000% 12-15.06.22 | 6 212 000.00 | 6 461 840.43 | 0.48 |
| USD | PPL CAPITAL FUNDING INC 3.10000% 16-15.05.26 | 4 000 000.00 | 4 183 324.80 | 0.31 |
| USD | PRINCIPAL FINANCIAL GROUP 3.10000% 16-15.11.26 | 5 000 000.00 | 5 301 523.00 | 0.40 |
| USD | PUBLIC STORAGE 3.09400% 17-15.09.27 | 2 200 000.00 | 2 309 174.78 | 0.17 |
| USD | QUALCOMM INC 3.25000% 17-20.05.27 | 5 000 000.00 | 5 460 104.50 | 0.41 |
| USD | ROYAL BANK OF SCOTLAND GROUP PLC 4.80000% 16-05.04.26 | 1 000 000.00 | 1 103 795.40 | 0.08 |
| USD | SABINE PASS LIQUEFACTION LLC STEP-UP/DOWN 14-01.02.21 | 4 142 000.00 | 4 142 110.59 | 0.31 |
| USD | SABINE PASS LIQUEFACTION LLC 5.75000% 14-15.05.24 | 3 500 000.00 | 3 657 255.00 | 0.27 |
| USD | SABINE PASS LIQUEFACTION LLC 5.00000% 17-15.03.27 | 2 000 000.00 | 2 050 159.00 | 0.15 |
| USD | SANTANDER UK PLC 2.10000% 20-13.01.23 | 4 000 000.00 | 4 027 496.00 | 0.30 |
| USD | SANTANDER UK PLC 4.00000% 14-13.03.24 | 2 000 000.00 | 2 153 466.60 | 0.16 |
| USD | SEMPRA ENERGY 3.25000% 17-15.06.27 | 10 550 000.00 | 11 030 191.69 | 0.83 |
| USD | SEMPRA ENERGY 3.55000% 14-15.06.24 | 9 717 000.00 | 10 248 745.34 | 0.77 |
| USD | SHELL INTERNATIONAL FINANCE 2.37500% 20-06.04.25 | 7 000 000.00 | 7 219 806.30 | 0.54 |
| USD | SHERWIN-WILLIAMS CO 3.45000% 17-01.06.27 | 1 000 000.00 | 1 074 837.40 | 0.08 |
| USD | SHIRE ACQUISITIONS INVT IRELAND DAC 2.40000% 16-23.09.21 | 2 000 000.00 | 2 030 167.40 | 0.15 |
| USD | SOUTHWEST AIRLINES CO 2.75000% 17-16.11.22 | 1 000 000.00 | 982 970.83 | 0.07 |
| USD | SOUTHWEST AIRLINES CO 3.45000% 17-16.11.27 | 1 000 000.00 | 928 144.41 | 0.07 |
| USD | SOUTHWEST AIRLINES CO 2.62500% 20-10.02.30 | 12 000 000.00 | 9 809 655.60 | 0.74 |
| USD | SUMITOMO MITSUI FIN GP INC 3.78400% 16-09.03.26 | 5 000 000.00 | 5 451 135.50 | 0.41 |
| USD | SUMITOMO MITSUI FIN GP INC 2.84600% 17-11.01.22 | 1 000 000.00 | 1 015 310.00 | 0.08 |
| USD | SUMITOMO MITSUI FIN GP INC 2.69600% 19-16.07.24 | 2 000 000.00 | 2 045 320.00 | 0.15 |
| USD | SUMITOMO MITSUI FIN GP INC 2.34800% 20-15.01.25 | 5 000 000.00 | 5 062 850.00 | 0.38 |
| USD | TARGET CORP 2.25000% 20-15.04.25 | 5 000 000.00 | 5 266 082.50 | 0.39 |
| USD | TARGET CORP 3.37500% 19-15.04.29 | 2 000 000.00 | 2 259 195.00 | 0.17 |
| USD | TELEFONICA EMISIONES SA 4.57000% 13-27.04.23 | 2 000 000.00 | 2 164 015.60 | 0.16 |
| USD | TIME WARNER CABLE LLC 4.00000% 11-01.09.21 | 1 980 000.00 | 2 017 347.35 | 0.15 |
| USD | TOLL BROTHERS FINANCE CORP 4.37500% 13-15.04.23 | 2 000 000.00 | 2 005 000.00 | 0.15 |
| USD | TRUIST BANK 3.20000% 19-01.04.24 | 5 500 000.00 | 5 800 847.25 | 0.44 |
| USD | TRUIST BANK 4.05000% 18-03.11.25 | 5 000 000.00 | 5 596 903.50 | 0.42 |
| USD | TRUIST FINANCIAL CORP 2.70000% 16-27.01.22 | 2 000 000.00 | 2 043 983.60 | 0.15 |
| USD | UNION PACIFIC CORP 3.25000% 15-15.08.25 | 2 000 000.00 | 2 159 055.20 | 0.16 |
| USD | UNION PACIFIC CORP 3.50000% 18-08.06.23 | 2 000 000.00 | 2 127 174.40 | 0.16 |
| USD | UNITED PARCEL SERVICE INC 2.40000% 16-15.11.26 | 2 000 000.00 | 2 124 201.40 | 0.16 |
| USD | UNITED PARCEL SERVICE INC 2.50000% 19-01.09.29 | 2 000 000.00 | 2 078 159.20 | 0.16 |
| USD | UNITED RENTALS NORTH AMERICA INC 4.00000% 20-15.07.30 | 5 000 000.00 | 4 725 000.00 | 0.35 |
| USD | UNITEDHEALTH GROUP INC 3.70000% 18-15.12.25 | 4 000 000.00 | 4 491 578.40 | 0.34 |
| USD | US BANCORP 3.37500% 19-05.02.24 | 2 000 000.00 | 2 148 220.00 | 0.16 |
| USD | VALERO ENERGY PARTNERS LP 4.50000% 18-15.03.28 | 1 000 000.00 | 1 037 650.20 | 0.08 |
| USD | VERIZON COMMUNICATIONS INC 2.62500% 16-15.08.26 | 5 000 000.00 | 5 303 841.50 | 0.40 |
| USD | VERIZON COMMUNICATIONS INC 4.12500% 17-16.03.27 | 750 000.00 | 870 551.18 | 0.06 |
| USD | VERIZON COMMUNICATIONS INC 4.32900% 18-21.09.28 | 3 921 000.00 | 4 638 313.23 | 0.35 |
| USD | VERIZON COMMUNICATIONS INC 4.01600% 19-03.12.29 | 2 000 000.00 | 2 329 693.40 | 0.17 |
| USD | VISA INC 1.90000% 20-15.04.27 | 7 000 000.00 | 7 242 596.20 | 0.54 |
| USD | VMWARE INC 2.95000% 17-21.08.22 | 6 000 000.00 | 6 087 419.40 | 0.46 |
| USD | VMWARE INC 3.90000% 17-21.08.27 | 5 000 000.00 | 5 103 694.00 | 0.38 |
| USD | VODAFONE GROUP PLC 4.37500% 18-30.05.28 | 2 000 000.00 | 2 289 807.80 | 0.17 |
| USD | WALT DISNEY CO 1.75000% 19-30.08.24 | 5 000 000.00 | 5 068 723.50 | 0.38 |
| USD | WALT DISNEY CO 2.00000% 19-01.09.29 | 5 000 000.00 | 4 998 343.10 | 0.37 |

Focused SICAV – US Corporate Bond Sustainable USD Semi-Annual Report as of 30 April 2020
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  |  | Nominal | Unrealized gain | of net |
|  |  |  | (loss) on Futures/ | assets |
|  |  |  | Forward |  |
|  |  |  | Exchange Contracts/ |  |
|  |  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | WESTPAC BANKING CORP 2.00000% 16-19.08.21 | 3 000 000.00 | 3 025 380.00 | 0.23 |
| USD | WESTPAC BANKING CORP 3.65000% 18-15.05.23 | 3 000 000.00 | 3 192 360.00 | 0.24 |
| USD | WESTPAC BANKING CORP 3.30000% 19-26.02.24 | 2 000 000.00 | 2 119 420.00 | 0.16 |
| USD | WESTPAC BANKING CORP 2.35000% 19-19.02.25 | 5 000 000.00 | 5 128 350.00 | 0.38 |
| USD | WESTPAC BANKING CORP 2.65000% 20-16.01.30 | 7 000 000.00 | 7 182 630.00 | 0.54 |
| USD | WEYERHAEUSER CO 4.00000% 19-15.11.29 | 2 000 000.00 | 2 162 396.80 | 0.16 |
| USD | WEYERHAEUSER CO 4.00000% 20-15.04.30 | 3 500 000.00 | 3 759 568.40 | 0.28 |
| USD | WILLIAMS COS INC/THE 4.30000% 14-04.03.24 | 2 000 000.00 | 2 063 193.60 | 0.15 |
| Total USD |  |  | 651 523 496.67 | 48.90 |
| Total Notes, fixed rate |  | 651 523 496.67 | 48.90 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 3.366%/VAR 18-23.01.26 | 5 026 000.00 | 5 363 534.60 | 0.40 |
| USD	BANK OF AMERICA CORP 3.550%/3M LIBOR+78BP 18-05.03.24 | 7 000 000.00 | 7 362 066.60 | 0.55 |
| USD	BANK OF AMERICA CORP 4.271%/VAR 18-23.07.29 | 500 000.00 | 568 449.20 | 0.04 |
| USD	CITIGROUP INC 2.666%/VAR 20-29.01.31 | 10 000 000.00 | 10 060 743.99 | 0.76 |
| USD	CITIGROUP INC 2.876%/VAR 17-24.07.23 | 3 000 000.00 | 3 071 054.10 | 0.23 |
| USD	CITIGROUP INC 4.075%/VAR 18-23.04.29 | 500 000.00 | 552 665.45 | 0.04 |
| USD	CREDIT SUISSE GROUP-144A 2.593%/VAR 19-11.09.25 | 5 000 000.00 | 4 989 827.55 | 0.38 |
| USD	GOLDMAN SACHS GROUP INC 2.908%/VAR 17-05.06.23 | 7 004 000.00 | 7 158 994.31 | 0.54 |
| USD	GOLDMAN SACHS GROUP INC 3.272%/VAR 17-29.09.25 | 5 000 000.00 | 5 227 372.50 | 0.39 |
| USD	HSBC HOLDINGS PLC 3.262%/VAR 17-13.03.23 | 5 000 000.00 | 5 127 031.00 | 0.39 |
| USD	HSBC HOLDINGS PLC 3.033%/3M LIBOR+92.3BP 17-22.11.23 | 4 000 000.00 | 4 116 946.80 | 0.31 |
| USD	HSBC HOLDINGS PLC 3.803%/VAR 19-11.03.25 | 2 750 000.00 | 2 925 912.28 | 0.22 |
| USD	HSBC HOLDINGS PLC 4.583%/VAR 18-19.06.29 | 2 000 000.00 | 2 261 406.20 | 0.17 |
| USD	JPMORGAN CHASE & CO 3.509%/3M LIBOR+94.5BP 18-23.01.29 | 2 000 000.00 | 2 166 839.60 | 0.16 |
| USD	JPMORGAN CHASE & CO 4.452%/3M LIBOR+133BP 18-05.12.29 | 500 000.00 | 577 653.55 | 0.04 |
| USD	JPMORGAN CHASE & CO 3.960%/3M LIBOR+124.5BP 19-29.01.27 | 4 000 000.00 | 4 431 258.40 | 0.33 |
| USD	JPMORGAN CHASE & CO 3.207%/VAR 19-01.04.23 | 5 000 000.00 | 5 157 990.00 | 0.39 |
| USD	JPMORGAN CHASE & CO 3.702%/VAR 19-06.05.30 | 5 000 000.00 | 5 528 816.00 | 0.42 |
| USD	JPMORGAN CHASE & CO 2.739%/VAR 19-15.10.30 | 5 000 000.00 | 5 179 151.50 | 0.39 |
| USD	LLOYDS BANKING GROUP PLC 3.870%/VAR 20-09.07.25 | 6 619 000.00 | 6 963 919.40 | 0.52 |
| USD	ROYAL BK OF SCOTLAND GP PLC 4.892%/VAR 18-18.05.29 | 3 000 000.00 | 3 371 863.50 | 0.25 |
| USD	WELLS FARGO & CO 2.188%/VAR 20-30.04.26 | 13 500 000.00 | 13 587 048.00 | 1.02 |
| Total USD |  | 105 750 544.53 | 7.94 |
| Total Notes, floating rate |  | 105 750 544.53 | 7.94 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	ABN AMRO BANK NV-144A 2.65000% 18-19.01.21 | 2 000 000.00 | 2 018 160.00 | 0.15 |
| USD	AIR LEASE CORP 3.00000% 20-01.02.30 | 2 000 000.00 | 1 595 735.92 | 0.12 |
| USD	BANK OF AMERICA CORP-SUB 4.25000% 14-22.10.26 | 3 000 000.00 | 3 292 142.40 | 0.25 |
| USD	BANK OF AMERICA CORP-SUB 4.45000% 16-03.03.26 | 4 000 000.00 | 4 415 016.00 | 0.33 |
| USD	BANK OF AMERICA CORP 3.50000% 16-19.04.26 | 4 000 000.00 | 4 349 044.80 | 0.33 |
| USD	BANK OF AMERICA CORP-SUB 4.18300% 16-25.11.27 | 5 500 000.00 | 5 996 040.05 | 0.45 |
| USD	BANK OF MONTREAL 2.90000% 19-26.03.22 | 5 000 000.00 | 5 147 736.00 | 0.39 |
| USD	BANK OF MONTREAL 3.30000% 19-05.02.24 | 4 000 000.00 | 4 223 494.80 | 0.32 |
| USD	BANK OF NEW YORK CO 1.85000% 20-27.01.23 | 10 000 000.00 | 10 175 930.00 | 0.76 |
| USD	BANK OF NEW YORK MELLON CORP 2.95000% 18-29.01.23 | 2 100 000.00 | 2 201 076.99 | 0.16 |
| USD	BB&T CORP 2.85000% 17-26.10.24 | 2 000 000.00 | 2 107 519.00 | 0.16 |
| USD	CATERPILLAR FINANCIAL SERVICES CORP 2.85000% 19-17.05.24 | 4 000 000.00 | 4 242 493.20 | 0.32 |
| USD	CATERPILLAR FINANCIAL SERVICES CORP 2.40000% 17-06.06.22 | 3 000 000.00 | 3 087 205.50 | 0.23 |
| USD	GOLDMAN SACHS GROUP INC/THE 4.00000% 14-03.03.24 | 3 000 000.00 | 3 223 469.40 | 0.24 |
| USD	JOHN DEERE CAPITAL CORP 2.80000% 17-08.09.27 | 2 000 000.00 | 2 178 931.80 | 0.16 |
| USD	MCDONALD’S CORP 3.35000% 18-01.04.23 | 1 500 000.00 | 1 595 007.45 | 0.12 |
| USD	MORGAN STANLEY-SUB 4.35000% 14-08.09.26 | 3 000 000.00 | 3 306 080.10 | 0.25 |
| USD	MORGAN STANLEY-SUB 4.10000% 13-22.05.23 | 6 800 000.00 | 7 180 774.16 | 0.54 |
| USD	ROYAL BANK OF CANADA 3.70000% 18-05.10.23 | 3 000 000.00 | 3 214 276.50 | 0.24 |
| USD	SUMITOMO MITSUI FIN GP INC 3.01000% 16-19.10.26 | 1 000 000.00 | 1 048 130.00 | 0.08 |
| USD	TORONTO-DOMINION BANK 3.25000% 19-11.03.24 | 7 800 000.00 | 8 283 794.22 | 0.62 |
| USD	US BANCORP-SUB 3.60000% 14-11.09.24 | 2 000 000.00 | 2 166 637.20 | 0.16 |
| USD	WELLS FARGO & CO 3.75000% 19-24.01.24 | 4 000 000.00 | 4 269 249.60 | 0.32 |
| Total USD |  | 89 317 945.09 | 6.70 |
| Total Medium term notes, fixed rate |  | 89 317 945.09 | 6.70 |
| Medium term notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 2.881%/VAR 17-24.04.23 | 1 475 000.00 | 1 507 145.26 | 0.11 |
| USD	BANK OF AMERICA CORP 3.559%/VAR 19-23.04.27 | 3 179 000.00 | 3 428 881.16 | 0.26 |
| USD	BANK OF AMERICA CORP 2.456%/VAR 19-22.10.25 | 5 000 000.00 | 5 113 870.50 | 0.38 |
| USD	MORGAN STANLEY 2.188%/VAR 20-28.04.26 | 5 000 000.00 | 5 061 128.00 | 0.38 |
| USD	MORGAN STANLEY 3.772%/VAR 18-24.01.29 | 2 000 000.00 | 2 196 443.00 | 0.17 |
| Total USD |  | 17 307 467.92 | 1.30 |
| Total Medium term notes, floating rate |  | 17 307 467.92 | 1.30 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	ALLSTATE CORP 3.28000% 16-15.12.26 | 3 167 000.00 | 3 453 025.07 | 0.26 |
| USD	ALLY FINANCIAL INC 4.62500% 15-19.05.22 | 1 000 000.00 | 1 022 500.00 | 0.08 |
| USD	ANDEAVR LOGIST LP/TESRO LOGIST FIN CORP 3.50000% 17-01.12.22 | 0.00 | 150.00 | 0.00 |
| USD	BALL CORP 4.87500% 18-15.03.26 | 2 000 000.00 | 2 150 000.00 | 0.16 |
| USD	BRANCH BANKING & TRUST CO-SUB 3.80000% 14-30.10.26 | 2 305 000.00 | 2 510 095.44 | 0.19 |
| USD	BURLINGTON NORTHERN SANTA FE CORP 3.00000% 15-01.04.25 | 1 250 000.00 | 1 346 451.38 | 0.10 |
| USD	CITIGROUP INC-SUB 4.30000% 14-20.11.26 | 3 000 000.00 | 3 259 804.80 | 0.25 |
| USD	CONSUMERS ENERGY CO 3.80000% 18-15.11.28 | 1 500 000.00 | 1 745 888.70 | 0.13 |

Focused SICAV – US Corporate Bond Sustainable USD Semi-Annual Report as of 30 April 2020
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | ENERGY TRANSFER OPERATING LP 5.50000% 19-01.06.27 | 1 500 000.00 | 1 522 420.80 | 0.11 |
| USD | GENERAL MOTORS FINANCIAL CO INC 3.45000% 17-14.01.22 | 4 000 000.00 | 3 863 694.96 | 0.29 |
| USD | GILEAD SCIENCES INC 3.70000% 14-01.04.24 | 3 000 000.00 | 3 294 326.40 | 0.25 |
| USD | KEYBANK NA/CLEVELAND OH 6.50000% 15-22.05.22 | 3 000 000.00 | 3 076 066.50 | 0.23 |
| USD | MICROSOFT CORP 2.40000% 16-08.08.26 | 10 000 000.00 | 10 793 030.00 | 0.81 |
| USD | MIDAMERICAN ENERGY CO 3.65000% 19-15.04.29 | 2 000 000.00 | 2 325 068.20 | 0.18 |
| USD | NATIONAL RURAL UTILITIES COOP FIN CORP 3.05000% 17-25.04.27 | 2 000 000.00 | 2 119 865.60 | 0.16 |
| USD | NATIONAL RURAL UTILITIES COOP FIN CORP 3.90000% 18-01.11.28 | 2 000 000.00 | 2 245 748.40 | 0.17 |
| USD | NATL RURAL UTIL COOPERATIVE FIN CORP 3.70000% 19-15.03.29 | 5 000 000.00 | 5 618 885.00 | 0.42 |
| USD | NEXTERA ENERGY 2.75000% 20-01.05.25 | 11 700 000.00 | 12 450 400.56 | 0.93 |
| USD | PPL CAPITAL FUNDING INC 3.50000% 12-01.12.22 | 2 000 000.00 | 2 075 359.80 | 0.16 |
| USD | UNITEDHEALTH GROUP INC 3.75000% 15-15.07.25 | 1 000 000.00 | 1 119 605.20 | 0.08 |
| USD | VODAFONE GROUP PLC 3.75000% 18-16.01.24 | 4 000 000.00 | 4 316 362.40 | 0.32 |
| Total USD |  |  | 70 308 749.21 | 5.28 |
| Total Bonds, fixed rate |  | 70 308 749.21 | 5.28 |
| Bonds, floating rate |  |  |  |
| USD |  |  |  |
| USD	GOLDMAN SACHS GROUP INC 4.223%/VAR 18-01.05.29 | 500 000.00 | 555 051.60 | 0.04 |
| Total USD |  | 555 051.60 | 0.04 |
| Total Bonds, floating rate |  | 555 051.60 | 0.04 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 934 763 255.02 | 70.16 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	ABBVIE INC-144A 2.95000% 19-21.11.26 | 2 000 000.00 | 2 110 889.80 | 0.16 |
| USD	ABBVIE INC-144A 3.20000% 19-21.11.29 | 5 000 000.00 | 5 312 284.00 | 0.40 |
| USD	AETNA INC 2.75000% 12-15.11.22 | 1 045 000.00 | 1 077 945.20 | 0.08 |
| USD	ALIBABA GROUP HOLDING LTD 3.60000% 15-28.11.24 | 2 000 000.00 | 2 145 180.00 | 0.16 |
| USD	ALLERGAN FINANCE LLC 3.25000% 12-01.10.22 | 3 000 000.00 | 3 077 812.20 | 0.23 |
| USD	AT&T INC 4.12500% 16-17.02.26 | 1 000 000.00 | 1 100 907.40 | 0.08 |
| USD	AXA EQUITABLE HOLDINGS INC 3.90000% 19-20.04.23 | 3 000 000.00 | 3 117 728.40 | 0.23 |
| USD	AXA EQUITABLE HOLDINGS INC 4.35000% 19-20.04.28 | 1 500 000.00 | 1 568 944.20 | 0.12 |
| USD	BERKSHIRE HATHAWAY ENERGY CO 2.80000% 18-15.01.23 | 1 000 000.00 | 1 044 513.60 | 0.08 |
| USD	BRISTOL MYERS SQUIBB CO-144A 2.87500% 19-15.08.20 | 2 000 000.00 | 2 010 398.80 | 0.15 |
| USD	BRISTOL-MYERS SQUIBB CO-144A 2.60000% 19-16.05.22 | 4 900 000.00 | 5 064 208.31 | 0.38 |
| USD	BROADCOM INC-144A 4.25000% 19-15.04.26 | 2 000 000.00 | 2 143 467.20 | 0.16 |
| USD	CCO HOLDINGS LLC/CAPITAL CORP-144A 5.75000% 15-15.02.26 | 2 129 000.00 | 2 219 482.50 | 0.17 |
| USD	CF INDUSTRIES INC-144A 3.40000% 16-01.12.21 | 499 000.00 | 498 648.64 | 0.04 |
| USD	CHENIERE ENERGY PARTNERS LP 5.25000% 18-01.10.25 | 2 000 000.00 | 1 909 200.00 | 0.14 |
| USD	COMMONWEALTH BANK AUSTRALIA-144A 3.35000% 19-04.06.24 | 6 678 000.00 | 7 092 770.58 | 0.53 |
| USD	DAIMLER FINANCE NORTH AMERICA LLC-144A 2.20000% 16-30.10.21 | 1 000 000.00 | 983 037.21 | 0.07 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 5.30000% 19-01.10.29 | 3 000 000.00 | 3 123 076.50 | 0.23 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 4.42000% 16-15.06.21 | 6 334 000.00 | 6 436 858.46 | 0.48 |
| USD	DEUTSCHE TELEKOM INTL FINANCE BV-144A 1.95000% 16-19.09.21 | 3 000 000.00 | 3 009 336.00 | 0.23 |
| USD	DEUTSCHE TELEKOM INTL FINANCE BV-144A 3.60000% 17-19.01.27 | 3 500 000.00 | 3 807 098.75 | 0.29 |
| USD	EMERSON ELECTRIC CO 1.80000% 20-15.10.27 | 7 000 000.00 | 6 973 207.57 | 0.52 |
| USD	FIFTH THIRD BANK-SUB 3.85000% 16-15.03.26 | 2 000 000.00 | 2 149 697.20 | 0.16 |
| USD	GENERAL MILLS INC 3.15000% 11-15.12.21 | 2 250 000.00 | 2 312 859.82 | 0.17 |
| USD	GOLDMAN SACHS GROUP INC 3.75000% 15-22.05.25 | 2 000 000.00 | 2 136 472.80 | 0.16 |
| USD	HARLEY-DAVIDSON FIN.SERV INC-144A 3.35000% 18-15.02.23 | 5 200 000.00 | 5 081 144.95 | 0.38 |
| USD	HCA INC 5.00000% 14-15.03.24 | 5 000 000.00 | 5 423 862.00 | 0.41 |
| USD	HUMANA INC 3.85000% 14-01.10.24 | 2 000 000.00 | 2 158 096.40 | 0.16 |
| USD	INTERNATIONAL BUSINESS MACHINES CORP 2.87500% 15-09.11.22 | 3 000 000.00 | 3 148 411.80 | 0.24 |
| USD	JPMORGAN CHASE & CO-SUB 3.37500% 13-01.05.23 | 4 000 000.00 | 4 188 568.40 | 0.31 |
| USD	JPMORGAN CHASE & CO-SUB 3.62500% 16-01.12.27 | 1 000 000.00 | 1 077 632.40 | 0.08 |
| USD	MARATHON OIL CORP 2.80000% 12-01.11.22 | 2 000 000.00 | 1 881 896.78 | 0.14 |
| USD	MORGAN STANLEY 3.87500% 14-29.04.24 | 1 000 000.00 | 1 078 622.40 | 0.08 |
| USD	MPLX LP-144A 3.50000% 19-01.12.22 | 500 000.00 | 493 826.42 | 0.04 |
| USD	NOVA CHEMICALS CORP-144A 4.87500% 17-01.06.24 | 2 000 000.00 | 1 795 000.00 | 0.14 |
| USD	NXP BV / NXP FUNDING LLC-144A 5.55000% 18-01.12.28 | 2 000 000.00 | 2 284 100.00 | 0.17 |
| USD	NXP BV / NXP FUNDING LLC-144A 4.87500% 18-01.03.24 | 4 200 000.00 | 4 559 645.16 | 0.34 |
| USD	ONCOR ELECTRIC DELIVERY CO 4.10000% 12-01.06.22 | 2 000 000.00 | 2 102 850.60 | 0.16 |
| USD	PNC FINANCIAL SERVICES GROUP INC STEP-UP 12-09.11.22 | 6 580 000.00 | 6 879 789.40 | 0.52 |
| USD	PRICOA GLOBAL FUNDING I-144A 2.20000% 16-03.06.21 | 1 500 000.00 | 1 526 284.65 | 0.12 |
| USD	PRINCIPAL FINANCIAL GROUP 3.30000% 12-15.09.22 | 2 000 000.00 | 2 062 646.00 | 0.16 |
| USD	RABOBANK NEDERLAND NV-144A 3.87500% 18-26.09.23 | 6 570 000.00 | 6 975 681.73 | 0.52 |
| USD	SIEMENS FINANCIERINGSMAATSCH NV-144A 2.35000% 16-15.10.26 | 1 000 000.00 | 1 032 271.30 | 0.08 |
| USD	SIEMENS FINANCIERINGSMAATSCH NV-144A 3.12500% 17-16.03.24 | 1 000 000.00 | 1 064 597.80 | 0.08 |
| USD	SOCIETE GENERALE SA-144A 4.00000% 17-12.01.27 | 500 000.00 | 529 261.85 | 0.04 |
| USD	UNION PACIFIC CORP 3.75000% 14-15.03.24 | 1 000 000.00 | 1 078 661.90 | 0.08 |
| USD	VIACOMCBS INC 3.87500% 11-15.12.21 | 3 148 000.00 | 3 241 142.39 | 0.24 |
| USD	VOLKSWAGEN GRP OF AMERICA FINANCE-144A 4.62500% 18-13.11.25 | 1 000 000.00 | 1 056 765.30 | 0.08 |
| Total USD |  | 133 146 784.77 | 9.99 |
| Total Notes, fixed rate |  | 133 146 784.77 | 9.99 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AUSTRALIA & NEW ZEALAND BANKING GRP/NY 2.62500% 17-09.11.22 | 5 000 000.00 | 5 148 600.00 | 0.39 |
| USD	GENERAL ELECTRIC CO 4.65000% 11-17.10.21 | 5 000 000.00 | 5 193 355.00 | 0.39 |
| USD	GENERAL ELECTRIC CO 3.10000% 13-09.01.23 | 5 000 000.00 | 5 082 011.50 | 0.38 |
| USD	GOLDMAN SACHS GROUP INC/THE 3.85000% 14-08.07.24 | 3 000 000.00 | 3 203 833.20 | 0.24 |
| Total USD |  | 18 627 799.70 | 1.40 |
| Total Medium term notes, fixed rate |  | 18 627 799.70 | 1.40 |
| Focused SICAV – US Corporate Bond Sustainable USD |  |  |  |
| Semi-Annual Report as of 30 April 2020 |  |  |  |

| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |

Bonds, fixed rate
| USD |  |
| --- | --- |
| USD | ANTHEM INC 3.30000% 12-15.01.23 | 4 239 000.00 | 4 469 688.07 | 0.34 |
| USD | BMW US CAPITAL LLC-144A 3.45000% 18-12.04.23 | 5 000 000.00 | 5 157 862.00 | 0.39 |
| USD | DELL INTERNATIONAL LLC / EMC CORP-144A 4.90000% 19-01.10.26 | 2 000 000.00 | 2 067 757.80 | 0.15 |
| USD | FIVE CORNERS FUNDING TRUST-144A 4.41900% 13-15.11.23 | 3 000 000.00 | 3 299 597.40 | 0.25 |
| USD | SOUTHERN CALIFORNIA EDISON CO 3.50000% 13-01.10.23 | 8 015 000.00 | 8 489 047.97 | 0.64 |
| Total USD |  |  | 23 483 953.24 | 1.77 |
| Total Bonds, fixed rate | 23 483 953.24 | 1.77 |
| Total Transferable securities and money market instruments traded on another regulated market | 175 258 537.71 | 13.16 |

Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market
Notes, fixed rate
| USD |  |
| --- | --- |
| USD | FIFTH THIRD BANK 1.80000% 20-30.01.23 | 3 000 000.00 | 3 025 531.80 | 0.23 |
| USD | FOX CORP 4.70900% 20-25.01.29 | 2 000 000.00 | 2 327 759.40 | 0.17 |
| Total USD |  |  | 5 353 291.20 | 0.40 |
| Total Notes, fixed rate |  | 5 353 291.20 | 0.40 |
| Total Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market |  | 5 353 291.20 | 0.40 |
| Recently issued transferable securities and money market instruments |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	BRISTOL MYERS SQUIBB CO-144A 3.87500% 19-15.08.25 | 7 520 000.00 | 8 567 398.38 | 0.64 |
| USD	BRISTOL-MYERS SQUIBB CO-144A 2.90000% 19-26.07.24 | 5 000 000.00 | 5 411 483.00 | 0.41 |
| USD	PRICOA GLOBAL FUNDING I-144A 2.40000% 19-23.09.24 | 5 000 000.00 | 5 196 740.00 | 0.39 |
| Total USD |  | 19 175 621.38 | 1.44 |
| Total Notes, fixed rate |  | 19 175 621.38 | 1.44 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BNP PARIBAS-144A 3.052%/VAR 20-13.01.31 | 7 000 000.00 | 7 000 031.50 | 0.53 |
| Total USD |  | 7 000 031.50 | 0.53 |
| Total Notes, floating rate |  | 7 000 031.50 | 0.53 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	SOCIETE GENERALE SA-144A 2.62500% 20-22.01.25 | 9 000 000.00 | 8 987 355.27 | 0.67 |
| Total USD |  | 8 987 355.27 | 0.67 |
| Total Medium term notes, fixed rate |  | 8 987 355.27 | 0.67 |
| Total Recently issued transferable securities and money market instruments |  | 35 163 008.15 | 2.64 |
| Total investments in securities |  | 1 150 538 092.08 | 86.36 |

| Derivative instruments |  |
| --- | --- |
| Derivative instruments listed on an official stock exchange Financial Futures on bonds |
|  |  |  |  |
| USD	US 10YR TREASURY NOTE FUTURE 19.06.20 | 270.00 | -4 218.75 | 0.00 |
| Total Financial Futures on bonds |  | -4 218.75 | 0.00 |
| Total Derivative instruments listed on an official stock exchange |  | -4 218.75 | 0.00 |
| Total Derivative instruments |  | -4 218.75 | 0.00 |
| Forward Foreign Exchange contracts Forward Foreign Exchange contracts (Purchase/Sale) |  |  |  |

| GBP | 15 455 900.00 | USD | 19 292 365.04 | 20.5.2020 | 204 204.44 | 0.02 |
| --- | --- | --- | --- | --- | --- | --- |
| CHF | 304 768 300.00 | USD | 315 347 580.64 | 20.5.2020 | 576 264.79 | 0.04 |
| EUR | 225 245 900.00 | USD | 245 074 071.33 | 20.5.2020 | 1 725 300.88 | 0.13 |
| GBP | 228 400.00 | USD | 285 725.32 | 20.5.2020 | 2 385.79 | 0.00 |
| EUR | 20 677 400.00 | USD | 22 462 771.49 | 20.5.2020 | 193 220.65 | 0.02 |
| CHF | 59 393 300.00 | USD | 61 375 704.57 | 20.5.2020 | 191 590.09 | 0.01 |
| GBP | 324 400.00 | USD | 399 900.21 | 20.5.2020 | 9 308.39 | 0.00 |
| GBP | 179 000.00 | USD | 221 234.32 | 20.5.2020 | 4 562.04 | 0.00 |
| EUR | 34 067 200.00 | USD | 36 783 210.93 | 20.5.2020 | 543 832.86 | 0.04 |
| GBP | 5 037 000.00 | USD | 6 211 034.54 | 20.5.2020 | 142 799.30 | 0.01 |

Focused SICAV – US Corporate Bond Sustainable USD Semi-Annual Report as of 30 April 2020
| Description	Quantity/ | Valuation in USD | 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)
| CHF | 16 201 900.00 | USD | 16 635 989.53 | 20.5.2020 | 158 954.53 | 0.01 |
| --- | --- | --- | --- | --- | --- | --- |
| CHF | 46 782 600.00 | USD | 47 962 132.73 | 20.5.2020 | 532 867.87 | 0.04 |
| EUR | 14 423 700.00 | USD | 15 636 949.53 | 20.5.2020 | 166 934.60 | 0.01 |
| GBP | 306 400.00 | USD | 380 221.87 | 20.5.2020 | 6 280.95 | 0.00 |
| EUR | 3 540 600.00 | USD | 3 841 413.62 | 20.5.2020 | 37 981.55 | 0.00 |
| CHF | 12 051 500.00 | USD | 12 379 787.20 | 20.5.2020 | 112 838.26 | 0.01 |
| GBP | 378 300.00 | USD | 471 442.60 | 20.5.2020 | 5 757.19 | 0.00 |
| USD | 8 723 830.31 | EUR | 8 038 100.00 | 4.5.2020 | -80 300.62 | -0.01 |
| EUR | 8 038 100.00 | USD | 8 726 477.26 | 20.5.2020 | 80 777.54 | 0.01 |
| GBP | 3 664 300.00 | USD | 4 556 879.51 | 20.5.2020 | 65 386.39 | 0.01 |
| USD | 23 697 390.85 | EUR | 21 788 300.00 | 5.5.2020 | -167 334.14 | -0.01 |
| EUR | 21 788 300.00 | USD | 23 703 883.76 | 20.5.2020 | 169 308.88 | 0.01 |
| USD | 200 594 384.33 | GBP | 159 416 700.00 | 5.5.2020 | -485 870.22 | -0.04 |
| GBP | 157 737 700.00 | USD | 198 490 670.21 | 20.5.2020 | 484 739.00 | 0.04 |
| Total Forward Foreign Exchange contracts (Purchase/Sale) | 4 681 791.01 | 0.35 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 135 114 184.40 | 10.14 |
| Other assets and liabilities | 41 972 301.66 | 3.15 |
| Total net assets | 1 332 302 150.40 | 100.00 |

Focused SICAV – US Corporate Bond Sustainable USD Semi-Annual Report as of 30 April 2020

Translation (ENDE, 2020-04-30):
# Focused SICAV – US Corporate Bond Sustainable USD
| Wichtigste Daten |  |
| --- | --- |
| Datum | ISIN | 30.4.2020 | 31.10.2019 | 31.10.2018 |
| Nettovermögen in USD |  | 1 332 302 150.40 | 627 370 969.98 | 351 833 801.97 |
| Klasse F-acc | LU1484152423 |  |  |  |
| Aktien im Umlauf |  | 4 061 303.2950 | 2 038 153.1940 | 1 042 273.4960 |
| Nettoinventarwert pro Aktie in USD |  | 115.23 | 112.41 | 101.40 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 116.77 | 112.41 | 101.73 |
| Klasse (CHF hedged) F-acc | LU1484152696 |  |  |  |
| Aktien im Umlauf |  | 3 913 504.9170 | 1 898 644.9080 | 1 836 248.6110 |
| Nettoinventarwert pro Aktie in CHF |  | 103.96 | 103.06 | 96.20 |
| Ausgabe- und Rücknahmepreis pro Aktie in CHF 1 |  | 105.35 | 103.06 | 96.52 |
| Klasse (EUR hedged) F-acc | LU1484153157 |  |  |  |
| Aktien im Umlauf |  | 3 110 613.0480 | 1 370 281.7660 | 347 956.0000 |
| Nettoinventarwert pro Aktie in EUR |  | 107.53 | 106.37 | 98.84 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 1 |  | 108.97 | 106.37 | 99.17 |
| Klasse (GBP hedged) F-acc | LU1865229824 |  |  |  |
| Aktien im Umlauf |  | 236 933.6090 | 63 326.8020 | 20 828.0000 |
| Nettoinventarwert pro Aktie in GBP |  | 109.96 | 108.45 | 99.57 |
| Ausgabe- und Rücknahmepreis pro Aktie in GBP 1 |  | 111.43 | 108.45 | 99.90 |
| Klasse (CHF hedged) F-UKdist | LU1490621650 |  |  |  |
| Aktien im Umlauf |  | 444 070.0000 | 290 510.0000 | 312 035.0000 |
| Nettoinventarwert pro Aktie in CHF |  | 94.64 | 96.73 | 93.27 |
| Ausgabe- und Rücknahmepreis pro Aktie in CHF 1 |  | 95.91 | 96.73 | 93.58 |
| 1  Siehe Erläuterung 1 |  |  |  |  |


## Struktur des Wertpapierbestandes
Geographische Aufteilung in % des Nettovermögens	
Vereinigte Staaten	67.85
Grossbritannien	4.98
Japan	2.68
Kanada	2.66
Niederlande	2.40
Australien	2.08
Frankreich	1.63
Irland	0.61
Guernsey	0.40
Schweiz	0.38
Spanien	0.16
China	0.16
Luxemburg	0.14
Finnland	0.08
Südkorea	0.08
Italien	0.07
Total	86.36
Wirtschaftliche Aufteilung in % des Nettovermögens	
Banken & Kreditinstitute	27.25
Finanz- & Beteiligungsgesellschaften	18.63
Internet, Software & IT-Dienste	4.83
Pharmazeutik, Kosmetik & medizinische Produkte	4.64
Energie- & Wasserversorgung	4.52
Telekommunikation	3.86
Computer & Netzwerkausrüster	3.36
Versicherungen	2.79
Verkehr & Transport	2.19
Gesundheits- & Sozialwesen	1.65
Elektrische Geräte & Komponenten	1.60
Grafisches Gewerbe, Verlage & Medien	1.37
Detailhandel, Warenhäuser	1.36
Elektronik & Halbleiter	1.30
Biotechnologie	1.27
Immobilien	1.15
Erdöl	1.14
Nahrungsmittel & Softdrinks	0.90
Diverse Dienstleistungen	0.71
Pfandbriefinstitute & Refinanzierungsgesellschaften	0.50
Diverse Konsumgüter	0.39
Gastgewerbe & Freizeit	0.27
Chemie	0.17
Verpackungsindustrie	0.16
Fahrzeuge	0.15
Diverse Handelsfirmen	0.12
Baugewerbe & Baumaterial	0.08
Total	86.36
Focused SICAV – US Corporate Bond Sustainable USD Halbjahresbericht per 30. April 2020

## Nettovermögensaufstellung
Aktiva	30.4.2020
USD
Wertpapierbestand, Einstandswert	1 124 381 496.08
| Wertpapierbestand, nicht realisierte Werterhöhung (-minderung) | 	26 156 596.00	 |
| --- | --- |
| Total Wertpapierbestand (Erläuterung 1) | 1 150 538 092.08 |
| Bankguthaben, Sicht- und Fristgelder | 134 490 651.80 |
| Andere liquide Mittel (Margins) | 623 532.60 |
| Forderungen aus Zeichnungen | 44 634 252.85 |
| Zinsforderungen aus Wertpapieren | 8 746 920.97 |
| Sonstige Aktiva | 26 774.12 |
| Nicht realisierter Kursgewinn (-verlust) aus Finanzterminkontrakten (Erläuterung 1) | -4 218.75 |
| Nicht realisierter Kursgewinn (-verlust) aus Devisenterminkontrakten (Erläuterung 1) | 4 681 791.01 |
| Total Aktiva | 1 343 737 796.68 |
|  |  |
| Passiva |  |
| Verbindlichkeiten aus Wertpapierkäufen (Erläuterung 1) | -10 923 804.43 |
| Verbindlichkeiten aus Rücknahmen | -363 408.13 |
| Rückstellungen für pauschale Verwaltungskommission (Erläuterung 2) | -114 467.46 |
| Rückstellungen für Abonnementsabgabe (Erläuterung 3) | -10 980.52 |
| Rückstellungen für sonstige Kommissionen und Gebühren (Erläuterung 2) | 	-22 985.74	 |
| Total Rückstellungen für Aufwendungen | -148 433.72 |
| Total Passiva | -11 435 646.28 |
|  |  |
| Nettovermögen am Ende der Berichtsperiode | 1 332 302 150.40 |
| Ertrags- und Aufwandsrechnung | USD |
| Erträge | 1.11.2019-30.4.2020 |
| Zinsertrag auf liquide Mittel | 110 441.71 |
| Zinsen auf Wertpapiere | 13 792 825.29 |
| Erträge aus Securities Lending (Erläuterung 11) | 27 208.00 |
| Sonstige Erträge (Erläuterung 4) | 4 274 629.11 |
| Total Erträge | 18 205 104.11 |
|  |  |
| Aufwendungen |  |
| Pauschale Verwaltungskommission (Erläuterung 2) | -1 093 317.28 |
| Abonnementsabgabe (Erläuterung 3) | -49 945.70 |
| Kosten aus Securities Lending (Erläuterung 11) | -10 883.20 |
| Sonstige Kommissionen und Gebühren (Erläuterung 2) | -23 145.86 |
| Zinsaufwand auf liquide Mittel und Kontokorrentkredit | -12 722.01 |
| Total Aufwendungen | -1 190 014.05 |
|  |  |
| Nettoerträge (-verluste) aus Anlagen | 17 015 090.06 |
|  |  |
| Realisierte Gewinne (Verluste) (Erläuterung 1) |  |
| Realisierter Kursgewinn (-verlust) aus marktbewerteten Wertpapieren ausser Optionen | 1 694 021.43 |
| Realisierter Kursgewinn (-verlust) aus Finanzterminkontrakten | -980 338.95 |
| Realisierter Kursgewinn (-verlust) aus Devisenterminkontrakten | -15 845 478.37 |
| Realisierter Währungsgewinn (-verlust) | 12 002 853.39 |
| Total der realisierten Gewinne (Verluste) | -3 128 942.50 |
|  |  |
| Realisierter Nettogewinn (-verlust) der Berichtsperiode | 13 886 147.56 |
|  |  |
| Veränderungen der nicht realisierten Werterhöhung (-minderung) (Erläuterung 1) |  |
| Nicht realisierte Werterhöhung (-minderung) marktbewerteter Wertpapiere ausser Optionen | 2 841 489.55 |
| Nicht realisierte Werterhöhung (-minderung) von Finanzterminkontrakten | -82 781.25 |
| Nicht realisierte Werterhöhung (-minderung) von Devisenterminkontrakten | 1 491 890.56 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | 4 250 598.86 |
|  |  |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | 18 136 746.42 |

Focused SICAV – US Corporate Bond Sustainable USD
Halbjahresbericht per 30. April 2020
| Veränderungen des Nettovermögens |  |
| --- | --- |
|  |  | USD |
|  |  | 1.11.2019-30.4.2020 |
| Nettovermögen zu Beginn der Berichtsperiode |  | 627 370 969.98 |
| Zeichnungen |  | 818 233 469.84 |
| Rücknahmen |  | 	-130 584 698.55	 |
| Total Mittelzufluss (-abfluss) |  | 687 648 771.29 |
| Ausbezahlte Dividende |  | -854 337.29 |
| Nettoerträge (-verluste) aus Anlagen |  | 17 015 090.06 |
| Total der realisierten Gewinne (Verluste) |  | -3 128 942.50 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) |  | 	4 250 598.86	 |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit |  | 18 136 746.42 |
| Nettovermögen am Ende der Berichtsperiode |  | 1 332 302 150.40 |
| Entwicklung der Aktien im Umlauf |  |  |
|  |  | 1.11.2019-30.4.2020 |
| Klasse |  | F-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode |  | 2 038 153.1940 |
| Anzahl der ausgegebenen Aktien |  | 2 599 360.3700 |
| Anzahl der zurückgegebenen Aktien |  | -576 210.2690 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode |  | 4 061 303.2950 |
| Klasse |  | (CHF hedged) F-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode |  | 1 898 644.9080 |
| Anzahl der ausgegebenen Aktien |  | 2 274 490.1950 |
| Anzahl der zurückgegebenen Aktien |  | -259 630.1860 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode |  | 3 913 504.9170 |
| Klasse |  | (EUR hedged) F-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode |  | 1 370 281.7660 |
| Anzahl der ausgegebenen Aktien |  | 2 048 216.6370 |
| Anzahl der zurückgegebenen Aktien |  | -307 885.3550 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode |  | 3 110 613.0480 |
| Klasse |  | (GBP hedged) F-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode |  | 63 326.8020 |
| Anzahl der ausgegebenen Aktien |  | 189 037.0000 |
| Anzahl der zurückgegebenen Aktien |  | -15 430.1930 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode |  | 236 933.6090 |
| Klasse |  | (CHF hedged) F-UKdist |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode |  | 290 510.0000 |
| Anzahl der ausgegebenen Aktien |  | 170 924.0000 |
| Anzahl der zurückgegebenen Aktien |  | -17 364.0000 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode |  | 444 070.0000 |
| Jährliche Ausschüttung 1 |  |  |
| Focused SICAV – US Corporate Bond Sustainable USD	Ex-Date | Pay-Date | Währung	Betrag pro Aktie |
| (CHF hedged) F-UKdist	15.11.2019 | 20.11.2019 | CHF	2.91 |
| 1  Siehe Erläuterung 5 |  |  |

Focused SICAV – US Corporate Bond Sustainable USD Halbjahresbericht per 30. April 2020

## Aufstellung der Wertpapierbestände und anderer Nettovermögenswerte per 30. April 2020
| Bezeichnung | Anzahl/ | Bewertung in USD | 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 |  |  |  |
| USD |  |  |  |
| USD	3M CO 2.00000% 19-14.02.25 | 5 000 000.00 | 5 197 839.50 | 0.39 |
| USD	ABBOTT LABORATORIES 3.75000% 16-30.11.26 | 648 000.00 | 748 028.58 | 0.06 |
| USD	ABBOTT LABORATORIES 3.87500% 17-15.09.25 | 1 000 000.00 | 1 145 568.20 | 0.09 |
| USD	ABBVIE INC 3.20000% 15-06.11.22 | 2 000 000.00 | 2 092 016.20 | 0.16 |
| USD	ABBVIE INC 3.60000% 15-14.05.25 | 3 000 000.00 | 3 261 344.70 | 0.24 |
| USD	ABBVIE INC 4.25000% 18-14.11.28 | 1 000 000.00 | 1 151 688.20 | 0.09 |
| USD	ADOBE INC 2.30000% 20-01.02.30 | 10 000 000.00 | 10 509 084.00 | 0.79 |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 3.50000% 17-26.05.22 | 3 800 000.00 | 3 535 418.70 | 0.27 |
| USD	ALLERGAN FUNDING SCS 3.45000% 15-15.03.22 | 1 863 000.00 | 1 909 400.99 | 0.14 |
| USD	AMAZON.COM INC 2.80000% 18-22.08.24 | 1 000 000.00 | 1 079 449.90 | 0.08 |
| USD	AMERICAN EXPRESS CO 3.00000% 17-30.10.24 | 5 000 000.00 | 5 256 721.00 | 0.39 |
| USD	AMERICAN EXPRESS CO 3.70000% 18-03.08.23 | 5 000 000.00 | 5 304 766.50 | 0.40 |
| USD	AMERICAN EXPRESS CO 2.50000% 19-30.07.24 | 1 000 000.00 | 1 028 802.20 | 0.08 |
| USD	AMERICAN INTERNATIONAL GROUP 4.87500% 12-01.06.22 | 2 000 000.00 | 2 133 414.60 | 0.16 |
| USD	AMERICAN INTERNATIONAL GROUP INC 4.25000% 19-15.03.29 | 2 400 000.00 | 2 628 688.80 | 0.20 |
| USD	AMGEN INC 2.20000% 20-21.02.27 | 7 000 000.00 | 7 172 910.50 | 0.54 |
| USD	AMGEN INC 2.70000% 15-01.05.22 | 2 050 000.00 | 2 112 631.81 | 0.16 |
| USD	ANZ NEW ZEALAND INT’L LTD/LDN-144A 3.40000% 19-19.03.24 | 5 000 000.00 | 5 243 700.00 | 0.39 |
| USD	AON CORP 3.50000% 14-14.06.24 | 2 000 000.00 | 2 088 668.80 | 0.16 |
| USD	APPLE INC 1.80000% 19-11.09.24 | 5 000 000.00 | 5 184 355.00 | 0.39 |
| USD	APPLE INC 2.05000% 19-11.09.26 | 3 000 000.00 | 3 163 102.50 | 0.24 |
| USD	APPLE INC 2.45000% 16-04.08.26 | 2 806 000.00 | 3 014 402.75 | 0.23 |
| USD	APPLE INC 2.50000% 15-09.02.25 | 3 000 000.00 | 3 208 793.70 | 0.24 |
| USD	APPLE INC 2.85000% 17-11.05.24 | 2 000 000.00 | 2 140 786.40 | 0.16 |
| USD	APPLE INC 3.20000% 15-13.05.25 | 3 000 000.00 | 3 308 285.10 | 0.25 |
| USD	ASTRAZENECA PLC 2.37500% 17-12.06.22 | 1 533 000.00 | 1 572 246.79 | 0.12 |
| USD	ASTRAZENECA PLC 3.12500% 17-12.06.27 | 2 000 000.00 | 2 183 408.20 | 0.16 |
| USD	ASTRAZENECA PLC 3.50000% 18-17.08.23 | 3 000 000.00 | 3 217 795.80 | 0.24 |
| USD	AT&T INC 2.95000% 19-15.07.26 | 5 000 000.00 | 5 240 289.00 | 0.39 |
| USD	AT&T INC 3.80000% 16-15.03.22 | 2 000 000.00 | 2 087 636.80 | 0.16 |
| USD	AT&T INC 3.87500% 19-15.01.26 | 2 000 000.00 | 2 171 790.40 | 0.16 |
| USD	AT&T INC 4.25000% 17-01.03.27 | 4 000 000.00 | 4 408 145.60 | 0.33 |
| USD	AT&T INC 4.30000% 18-15.02.30 | 1 000 000.00 | 1 124 378.50 | 0.08 |
| USD	AT&T INC 4.35000% 19-01.03.29 | 1 500 000.00 | 1 685 586.14 | 0.13 |
| USD	AUTODESK INC 2.85000% 20-15.01.30 | 9 385 000.00 | 9 820 683.61 | 0.74 |
| USD	BANK OF NOVA SCOTIA 2.00000% 19-15.11.22 | 10 000 000.00 | 10 135 433.00 | 0.76 |
| USD	BARCLAYS PLC 3.20000% 16-10.08.21 | 5 380 000.00 | 5 437 231.90 | 0.41 |
| USD	BARCLAYS PLC 3.68400% 17-10.01.23 | 4 100 000.00 | 4 191 581.70 | 0.31 |
| USD	BECTON DICKINSON AND CO 3.36300% 17-06.06.24 | 2 000 000.00 | 2 126 071.80 | 0.16 |
| USD	BP CAPITAL MARKETS AMERICA INC 4.23400% 18-06.11.28 | 3 000 000.00 | 3 335 388.90 | 0.25 |
| USD	BP CAPITAL MARKETS AMERICA INC 2.93700% 20-06.04.23 | 1 500 000.00 | 1 548 097.80 | 0.12 |
| USD	BP CAPITAL MARKETS PLC 2.52000% 18-19.09.22 | 5 881 000.00 | 5 981 950.89 | 0.45 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.87500% 18-15.01.27 | 2 000 000.00 | 2 084 957.00 | 0.16 |
| USD	CANADIAN NATURAL RESOURCES LTD 3.85000% 17-01.06.27 | 2 000 000.00 | 1 839 295.76 | 0.14 |
| USD	CAPITAL ONE FINANCIAL CORP 3.30000% 17-30.10.24 | 1 000 000.00 | 1 019 464.70 | 0.08 |
| USD	CAPITAL ONE FINANCIAL CORP 3.20000% 18-30.01.23 | 2 000 000.00 | 2 036 266.60 | 0.15 |
| USD	CCO LLC/CAPITAL 4.90800% 16-23.07.25 | 3 000 000.00 | 3 385 958.40 | 0.25 |
| USD	CCO LLC/CAPITAL 5.05000% 19-30.03.29 | 1 000 000.00 | 1 174 477.90 | 0.09 |
| USD	CENOVUS ENERGY INC 4.25000% 17-15.04.27 | 1 000 000.00 | 786 596.39 | 0.06 |
| USD	CENTERPOINT ENERGY INC 4.25000% 18-01.11.28 | 3 000 000.00 | 3 277 783.80 | 0.25 |
| USD	CIGNA CORP 2.40000% 20-15.03.30 | 5 500 000.00 | 5 559 168.45 | 0.42 |
| USD	CIGNA CORP 3.75000% 19-15.07.23 | 2 938 000.00 | 3 138 410.38 | 0.24 |
| USD	CIGNA CORP 4.12500% 19-15.11.25 | 4 000 000.00 | 4 484 711.60 | 0.34 |
| USD	CITIGROUP INC 3.30000% 15-27.04.25 | 1 591 000.00 | 1 683 914.08 | 0.13 |
| USD	CITIGROUP INC-SUB 4.45000% 15-29.09.27 | 1 750 000.00 | 1 917 020.53 | 0.14 |
| USD	CITIGROUP INC-SUB 5.50000% 13-13.09.25 | 2 500 000.00 | 2 865 193.25 | 0.21 |
| USD	CMS ENERGY CORP 2.95000% 16-15.02.27 | 2 000 000.00 | 2 068 123.80 | 0.15 |
| USD	COMCAST CORP 3.15000% 16-01.03.26 | 3 000 000.00 | 3 273 040.80 | 0.25 |
| USD	COMCAST CORP 3.95000% 18-15.10.25 | 6 000 000.00 | 6 754 632.60 | 0.51 |
| USD	COMCAST CORP 4.15000% 18-15.10.28 | 5 000 000.00 | 5 853 050.50 | 0.44 |
| USD	CREDIT AGRICOLE SA-144A-SUB 4.37500% 15-17.03.25 | 3 000 000.00 | 3 173 819.10 | 0.24 |
| USD	CREDIT SUISSE GRP FDNG GUERNSEY 3.75000% 16-26.03.25 | 5 000 000.00 | 5 298 380.00 | 0.40 |
| USD	CVS HEALTH CORP 3.70000% 18-09.03.23 | 3 000 000.00 | 3 178 817.40 | 0.24 |
| USD	CVS HEALTH CORP 4.10000% 18-25.03.25 | 2 000 000.00 | 2 206 208.60 | 0.17 |
| USD	CVS HEALTH CORP 4.30000% 18-25.03.28 | 6 500 000.00 | 7 370 782.90 | 0.55 |
| USD	DANONE SA-144A 2.07770% 16-02.11.21 | 2 000 000.00 | 2 021 953.60 | 0.15 |
| USD	ENERGY TRANSFER OPERATING LP 5.25000% 19-15.04.29 | 1 000 000.00 | 1 004 145.60 | 0.08 |
| USD	ENERGY TRANSFER PARTNERS LP 4.05000% 15-15.03.25 | 1 840 000.00 | 1 806 385.96 | 0.14 |
| USD	ENI SPA-144A 4.75000% 18-12.09.28 | 850 000.00 | 890 412.57 | 0.07 |
| USD	ENTERPRISE PRODUCTS OPERATING LLC 2.85000% 16-15.04.21 | 2 000 000.00 | 2 001 695.00 | 0.15 |
| USD	ENTERPRISE PRODUCTS OPERATING LLC 3.12500% 19-31.07.29 | 2 000 000.00 | 1 995 412.00 | 0.15 |
| USD	EQUINIX INC 2.62500% 19-18.11.24 | 5 000 000.00 | 5 139 750.00 | 0.39 |
| USD	FEDEX CORP 3.10000% 19-05.08.29 | 3 000 000.00 | 3 035 556.30 | 0.23 |
| USD	FIFTH THIRD BANK 3.35000% 18-26.07.21 | 2 000 000.00 | 2 047 627.20 | 0.15 |
| USD	FISERV INC 3.50000% 19-01.07.29 | 5 000 000.00 | 5 482 122.00 | 0.41 |
| USD	GE CAPITAL INTL FUNDING CO 3.37300% 16-15.11.25 | 500 000.00 | 514 934.45 | 0.04 |
| USD	GENERAL MOTORS FINANCIAL CO INC 4.20000% 16-01.03.21 | 3 445 000.00 | 3 421 541.17 | 0.26 |
| USD	GENERAL MOTORS FINANCIAL CO INC 5.25000% 16-01.03.26 | 1 000 000.00 | 960 008.41 | 0.07 |
| USD	GENERAL MOTORS FINANCIAL CO INC 3.55000% 19-08.07.22 | 2 000 000.00 | 1 933 682.62 | 0.14 |
| USD	GENERAL MOTORS FINANCIAL CO INC 2.90000% 20-26.02.25 | 4 000 000.00 | 3 624 877.88 | 0.27 |
| USD	GEORGIA POWER CO 3.25000% 16-01.04.26 | 5 000 000.00 | 5 377 839.00 | 0.40 |
| USD	GILEAD SCIENCES INC 3.50000% 14-01.02.25 | 2 000 000.00 | 2 199 873.80 | 0.16 |
| USD	GILEAD SCIENCES INC 2.95000% 16-01.03.27 | 2 000 000.00 | 2 184 783.40 | 0.16 |
| USD	GLAXOSMITHKLINE CAPITAL INC 3.37500% 18-15.05.23 | 3 000 000.00 | 3 207 149.40 | 0.24 |
| USD	GOLDMAN SACHS GROUP INC-SUB 4.25000% 15-21.10.25 | 2 000 000.00 | 2 146 946.20 | 0.16 |
| USD	GOLDMAN SACHS GROUP INC/THE 3.00000% 17-26.04.22 | 4 450 000.00 | 4 508 074.73 | 0.34 |
| USD	GOLDMAN SACHS GROUP INC 2.60000% 20-07.02.30 | 2 000 000.00 | 1 986 476.52 | 0.15 |
| USD	GOLDMAN SACHS GROUP INC/THE 3.50000% 16-16.11.26 | 1 000 000.00 | 1 062 580.10 | 0.08 |

Focused SICAV – US Corporate Bond Sustainable USD
Halbjahresbericht per 30. April 2020
|  | Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
|  |  |  |  |  |
| USD | HCA INC 4.75000% 12-01.05.23 | 3 000 000.00 | 3 197 523.60 | 0.24 |
| USD | HCP INC 3.25000% 19-15.07.26 | 2 000 000.00 | 2 007 798.20 | 0.15 |
| USD | HEWLETT PACKARD ENTERPRISE CO STEP-UP/DOWN 16-15.10.20 | 3 000 000.00 | 3 018 958.20 | 0.23 |
| USD | HEWLETT PACKARD ENTERPRISE CO STEP-UP/DOWN 16-15.10.22 | 5 000 000.00 | 5 247 225.50 | 0.39 |
| USD | HOME DEPOT INC/THE 3.90000% 18-06.12.28 | 5 372 000.00 | 6 211 146.15 | 0.47 |
| USD | HSBC HOLDINGS PLC 2.95000% 16-25.05.21 | 3 000 000.00 | 3 044 439.30 | 0.23 |
| USD | HSBC HOLDINGS PLC 3.60000% 16-25.05.23 | 2 650 000.00 | 2 779 945.67 | 0.21 |
| USD | IBM CREDIT LLC 2.20000% 17-08.09.22 | 1 290 000.00 | 1 329 238.58 | 0.10 |
| USD | INTEL CORP 2.45000% 19-15.11.29 | 3 000 000.00 | 3 178 099.50 | 0.24 |
| USD | INTEL CORP 3.75000% 20-25.03.27 | 3 500 000.00 | 3 983 921.90 | 0.30 |
| USD | INTERNATIONAL BUSINESS MACHINES CORP 3.37500% 13-01.08.23 | 2 000 000.00 | 2 154 368.40 | 0.16 |
| USD | INTERNATIONAL BUSINESS MACHINES CORP 3.45000% 16-19.02.26 | 3 000 000.00 | 3 323 889.00 | 0.25 |
| USD | INTERNATIONAL BUSINESS MACHINES CORP 3.50000% 19-15.05.29 | 5 000 000.00 | 5 645 830.50 | 0.42 |
| USD | JPMORGAN CHASE & CO 3.20000% 13-25.01.23 | 2 000 000.00 | 2 087 515.80 | 0.16 |
| USD | JPMORGAN CHASE & CO 3.20000% 16-15.06.26 | 5 234 000.00 | 5 578 838.43 | 0.42 |
| USD | KIA MOTORS CORP-144A 3.00000% 17-25.04.23 | 1 000 000.00 | 1 006 471.90 | 0.08 |
| USD | KINDER MORGAN INC 4.30000% 18-01.03.28 | 2 500 000.00 | 2 653 464.50 | 0.20 |
| USD | KROGER CO 3.50000% 16-01.02.26 | 3 000 000.00 | 3 274 857.00 | 0.25 |
| USD | LINCOLN NATIONAL CORP 3.35000% 15-09.03.25 | 2 000 000.00 | 2 094 189.40 | 0.16 |
| USD | LINCOLN NATIONAL CORP 3.80000% 18-01.03.28 | 2 000 000.00 | 2 095 729.20 | 0.16 |
| USD | MARATHON OIL CORP 4.40000% 17-15.07.27 | 1 500 000.00 | 1 163 524.19 | 0.09 |
| USD | MASTERCARD INC 2.00000% 19-03.03.25 | 5 000 000.00 | 5 198 645.00 | 0.39 |
| USD | MASTERCARD INC 2.95000% 16-21.11.26 | 3 000 000.00 | 3 289 398.90 | 0.25 |
| USD | MCDONALD’S CORP 2.62500% 11-15.01.22 | 2 000 000.00 | 2 049 381.80 | 0.15 |
| USD | METLIFE INC 3.00000% 15-01.03.25 | 2 000 000.00 | 2 132 294.40 | 0.16 |
| USD | MITSUBISHI UFJ FINANCIAL GROUP INC 3.85000% 16-01.03.26 | 1 000 000.00 | 1 088 780.00 | 0.08 |
| USD | MITSUBISHI UFJ FINANCIAL GROUP INC 3.45500% 18-02.03.23 | 1 000 000.00 | 1 040 820.00 | 0.08 |
| USD | MITSUBISHI UFJ FINANCIAL GROUP INC 3.76100% 18-26.07.23 | 9 500 000.00 | 10 020 125.00 | 0.75 |
| USD | MITSUBISHI UFJ FINANCIAL GRP INC 2.19300% 20-25.02.25 | 5 000 000.00 | 5 019 100.00 | 0.38 |
| USD | MIZUHO FINANCIAL GROUP INC-144A 2.63200% 16-12.04.21 | 2 432 000.00 | 2 445 181.44 | 0.18 |
| USD | MIZUHO FINANCIAL GROUP INC 2.60100% 17-11.09.22 | 1 500 000.00 | 1 520 325.00 | 0.11 |
| USD | MORGAN STANLEY 3.62500% 17-20.01.27 | 4 000 000.00 | 4 351 288.40 | 0.33 |
| USD | MORGAN STANLEY-SUB 4.87500% 12-01.11.22 | 3 000 000.00 | 3 197 483.70 | 0.24 |
| USD | MPLX LP 4.80000% 18-15.02.29 | 1 000 000.00 | 1 005 344.30 | 0.08 |
| USD | MPLX LP 4.87500% 16-01.06.25 | 500 000.00 | 487 854.20 | 0.04 |
| USD | NATIONAL AUSTRALIA BANK LTD/NY 2.50000% 16-12.07.26 | 2 000 000.00 | 2 060 960.00 | 0.15 |
| USD | NOBLE ENERGY INC 3.85000% 17-15.01.28 | 3 000 000.00 | 2 396 634.24 | 0.18 |
| USD | NOKIA OYJ 3.37500% 17-12.06.22 | 1 000 000.00 | 1 007 500.00 | 0.08 |
| USD | NORFOLK SOUTHERN CORP 3.25000% 11-01.12.21 | 2 000 000.00 | 2 052 544.00 | 0.15 |
| USD | NVIDIA CORP 2.85000% 20-01.04.30 | 3 000 000.00 | 3 248 988.90 | 0.24 |
| USD | OCCIDENTAL PETROLEUM CORP 3.50000% 19-15.08.29 | 3 000 000.00 | 2 070 000.00 | 0.16 |
| USD | ORACLE CORP 2.50000% 15-15.05.22 | 2 000 000.00 | 2 057 873.00 | 0.15 |
| USD | ORACLE CORP 2.50000% 20-01.04.25 | 4 000 000.00 | 4 208 301.20 | 0.32 |
| USD | ORACLE CORP 2.65000% 16-15.07.26 | 1 500 000.00 | 1 596 844.50 | 0.12 |
| USD | ORACLE CORP 2.80000% 20-01.04.27 | 1 400 000.00 | 1 502 303.18 | 0.11 |
| USD | ORACLE CORP 3.25000% 17-15.11.27 | 6 500 000.00 | 7 157 465.90 | 0.54 |
| USD | PEPSICO INC 2.85000% 16-24.02.26 | 7 000 000.00 | 7 639 086.70 | 0.57 |
| USD | PNC BANK NATIONAL ASSOCIATION-SUB 4.20000% 13-01.11.25 | 2 000 000.00 | 2 261 821.40 | 0.17 |
| USD | PNC FINANCIAL SERVICS GROUP 2.20000% 19-01.11.24 | 3 000 000.00 | 3 108 608.40 | 0.23 |
| USD | PPL CAPITAL FUNDING INC 4.20000% 12-15.06.22 | 6 212 000.00 | 6 461 840.43 | 0.48 |
| USD | PPL CAPITAL FUNDING INC 3.10000% 16-15.05.26 | 4 000 000.00 | 4 183 324.80 | 0.31 |
| USD | PRINCIPAL FINANCIAL GROUP 3.10000% 16-15.11.26 | 5 000 000.00 | 5 301 523.00 | 0.40 |
| USD | PUBLIC STORAGE 3.09400% 17-15.09.27 | 2 200 000.00 | 2 309 174.78 | 0.17 |
| USD | QUALCOMM INC 3.25000% 17-20.05.27 | 5 000 000.00 | 5 460 104.50 | 0.41 |
| USD | ROYAL BANK OF SCOTLAND GROUP PLC 4.80000% 16-05.04.26 | 1 000 000.00 | 1 103 795.40 | 0.08 |
| USD | SABINE PASS LIQUEFACTION LLC STEP-UP/DOWN 14-01.02.21 | 4 142 000.00 | 4 142 110.59 | 0.31 |
| USD | SABINE PASS LIQUEFACTION LLC 5.75000% 14-15.05.24 | 3 500 000.00 | 3 657 255.00 | 0.27 |
| USD | SABINE PASS LIQUEFACTION LLC 5.00000% 17-15.03.27 | 2 000 000.00 | 2 050 159.00 | 0.15 |
| USD | SANTANDER UK PLC 2.10000% 20-13.01.23 | 4 000 000.00 | 4 027 496.00 | 0.30 |
| USD | SANTANDER UK PLC 4.00000% 14-13.03.24 | 2 000 000.00 | 2 153 466.60 | 0.16 |
| USD | SEMPRA ENERGY 3.25000% 17-15.06.27 | 10 550 000.00 | 11 030 191.69 | 0.83 |
| USD | SEMPRA ENERGY 3.55000% 14-15.06.24 | 9 717 000.00 | 10 248 745.34 | 0.77 |
| USD | SHELL INTERNATIONAL FINANCE 2.37500% 20-06.04.25 | 7 000 000.00 | 7 219 806.30 | 0.54 |
| USD | SHERWIN-WILLIAMS CO 3.45000% 17-01.06.27 | 1 000 000.00 | 1 074 837.40 | 0.08 |
| USD | SHIRE ACQUISITIONS INVT IRELAND DAC 2.40000% 16-23.09.21 | 2 000 000.00 | 2 030 167.40 | 0.15 |
| USD | SOUTHWEST AIRLINES CO 2.75000% 17-16.11.22 | 1 000 000.00 | 982 970.83 | 0.07 |
| USD | SOUTHWEST AIRLINES CO 3.45000% 17-16.11.27 | 1 000 000.00 | 928 144.41 | 0.07 |
| USD | SOUTHWEST AIRLINES CO 2.62500% 20-10.02.30 | 12 000 000.00 | 9 809 655.60 | 0.74 |
| USD | SUMITOMO MITSUI FIN GP INC 3.78400% 16-09.03.26 | 5 000 000.00 | 5 451 135.50 | 0.41 |
| USD | SUMITOMO MITSUI FIN GP INC 2.84600% 17-11.01.22 | 1 000 000.00 | 1 015 310.00 | 0.08 |
| USD | SUMITOMO MITSUI FIN GP INC 2.69600% 19-16.07.24 | 2 000 000.00 | 2 045 320.00 | 0.15 |
| USD | SUMITOMO MITSUI FIN GP INC 2.34800% 20-15.01.25 | 5 000 000.00 | 5 062 850.00 | 0.38 |
| USD | TARGET CORP 2.25000% 20-15.04.25 | 5 000 000.00 | 5 266 082.50 | 0.39 |
| USD | TARGET CORP 3.37500% 19-15.04.29 | 2 000 000.00 | 2 259 195.00 | 0.17 |
| USD | TELEFONICA EMISIONES SA 4.57000% 13-27.04.23 | 2 000 000.00 | 2 164 015.60 | 0.16 |
| USD | TIME WARNER CABLE LLC 4.00000% 11-01.09.21 | 1 980 000.00 | 2 017 347.35 | 0.15 |
| USD | TOLL BROTHERS FINANCE CORP 4.37500% 13-15.04.23 | 2 000 000.00 | 2 005 000.00 | 0.15 |
| USD | TRUIST BANK 3.20000% 19-01.04.24 | 5 500 000.00 | 5 800 847.25 | 0.44 |
| USD | TRUIST BANK 4.05000% 18-03.11.25 | 5 000 000.00 | 5 596 903.50 | 0.42 |
| USD | TRUIST FINANCIAL CORP 2.70000% 16-27.01.22 | 2 000 000.00 | 2 043 983.60 | 0.15 |
| USD | UNION PACIFIC CORP 3.25000% 15-15.08.25 | 2 000 000.00 | 2 159 055.20 | 0.16 |
| USD | UNION PACIFIC CORP 3.50000% 18-08.06.23 | 2 000 000.00 | 2 127 174.40 | 0.16 |
| USD | UNITED PARCEL SERVICE INC 2.40000% 16-15.11.26 | 2 000 000.00 | 2 124 201.40 | 0.16 |
| USD | UNITED PARCEL SERVICE INC 2.50000% 19-01.09.29 | 2 000 000.00 | 2 078 159.20 | 0.16 |
| USD | UNITED RENTALS NORTH AMERICA INC 4.00000% 20-15.07.30 | 5 000 000.00 | 4 725 000.00 | 0.35 |
| USD | UNITEDHEALTH GROUP INC 3.70000% 18-15.12.25 | 4 000 000.00 | 4 491 578.40 | 0.34 |
| USD | US BANCORP 3.37500% 19-05.02.24 | 2 000 000.00 | 2 148 220.00 | 0.16 |
| USD | VALERO ENERGY PARTNERS LP 4.50000% 18-15.03.28 | 1 000 000.00 | 1 037 650.20 | 0.08 |
| USD | VERIZON COMMUNICATIONS INC 2.62500% 16-15.08.26 | 5 000 000.00 | 5 303 841.50 | 0.40 |
| USD | VERIZON COMMUNICATIONS INC 4.12500% 17-16.03.27 | 750 000.00 | 870 551.18 | 0.06 |
| USD | VERIZON COMMUNICATIONS INC 4.32900% 18-21.09.28 | 3 921 000.00 | 4 638 313.23 | 0.35 |
| USD | VERIZON COMMUNICATIONS INC 4.01600% 19-03.12.29 | 2 000 000.00 | 2 329 693.40 | 0.17 |
| USD | VISA INC 1.90000% 20-15.04.27 | 7 000 000.00 | 7 242 596.20 | 0.54 |
| USD | VMWARE INC 2.95000% 17-21.08.22 | 6 000 000.00 | 6 087 419.40 | 0.46 |
| USD | VMWARE INC 3.90000% 17-21.08.27 | 5 000 000.00 | 5 103 694.00 | 0.38 |
| USD | VODAFONE GROUP PLC 4.37500% 18-30.05.28 | 2 000 000.00 | 2 289 807.80 | 0.17 |
| USD | WALT DISNEY CO 1.75000% 19-30.08.24 | 5 000 000.00 | 5 068 723.50 | 0.38 |
| USD | WALT DISNEY CO 2.00000% 19-01.09.29 | 5 000 000.00 | 4 998 343.10 | 0.37 |

Focused SICAV – US Corporate Bond Sustainable USD Halbjahresbericht per 30. April 2020
|  | Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- | --- |
|  |  | Nominal | NR Kursgewinn | Netto- |
|  |  |  | (-verlust) auf Futures/ | vermögens |
|  |  |  | Devisentermin- |  |
|  |  |  | kontrakten/ |  |
|  |  |  | Swaps (Erl. 1) |  |
|  |  |  |  |  |
| USD | WESTPAC BANKING CORP 2.00000% 16-19.08.21 | 3 000 000.00 | 3 025 380.00 | 0.23 |
| USD | WESTPAC BANKING CORP 3.65000% 18-15.05.23 | 3 000 000.00 | 3 192 360.00 | 0.24 |
| USD | WESTPAC BANKING CORP 3.30000% 19-26.02.24 | 2 000 000.00 | 2 119 420.00 | 0.16 |
| USD | WESTPAC BANKING CORP 2.35000% 19-19.02.25 | 5 000 000.00 | 5 128 350.00 | 0.38 |
| USD | WESTPAC BANKING CORP 2.65000% 20-16.01.30 | 7 000 000.00 | 7 182 630.00 | 0.54 |
| USD | WEYERHAEUSER CO 4.00000% 19-15.11.29 | 2 000 000.00 | 2 162 396.80 | 0.16 |
| USD | WEYERHAEUSER CO 4.00000% 20-15.04.30 | 3 500 000.00 | 3 759 568.40 | 0.28 |
| USD | WILLIAMS COS INC/THE 4.30000% 14-04.03.24 | 2 000 000.00 | 2 063 193.60 | 0.15 |
| Total USD |  |  | 651 523 496.67 | 48.90 |
| Total Notes, fester Zins |  | 651 523 496.67 | 48.90 |
| Notes, variabler Zins |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 3.366%/VAR 18-23.01.26 | 5 026 000.00 | 5 363 534.60 | 0.40 |
| USD	BANK OF AMERICA CORP 3.550%/3M LIBOR+78BP 18-05.03.24 | 7 000 000.00 | 7 362 066.60 | 0.55 |
| USD	BANK OF AMERICA CORP 4.271%/VAR 18-23.07.29 | 500 000.00 | 568 449.20 | 0.04 |
| USD	CITIGROUP INC 2.666%/VAR 20-29.01.31 | 10 000 000.00 | 10 060 743.99 | 0.76 |
| USD	CITIGROUP INC 2.876%/VAR 17-24.07.23 | 3 000 000.00 | 3 071 054.10 | 0.23 |
| USD	CITIGROUP INC 4.075%/VAR 18-23.04.29 | 500 000.00 | 552 665.45 | 0.04 |
| USD	CREDIT SUISSE GROUP-144A 2.593%/VAR 19-11.09.25 | 5 000 000.00 | 4 989 827.55 | 0.38 |
| USD	GOLDMAN SACHS GROUP INC 2.908%/VAR 17-05.06.23 | 7 004 000.00 | 7 158 994.31 | 0.54 |
| USD	GOLDMAN SACHS GROUP INC 3.272%/VAR 17-29.09.25 | 5 000 000.00 | 5 227 372.50 | 0.39 |
| USD	HSBC HOLDINGS PLC 3.262%/VAR 17-13.03.23 | 5 000 000.00 | 5 127 031.00 | 0.39 |
| USD	HSBC HOLDINGS PLC 3.033%/3M LIBOR+92.3BP 17-22.11.23 | 4 000 000.00 | 4 116 946.80 | 0.31 |
| USD	HSBC HOLDINGS PLC 3.803%/VAR 19-11.03.25 | 2 750 000.00 | 2 925 912.28 | 0.22 |
| USD	HSBC HOLDINGS PLC 4.583%/VAR 18-19.06.29 | 2 000 000.00 | 2 261 406.20 | 0.17 |
| USD	JPMORGAN CHASE & CO 3.509%/3M LIBOR+94.5BP 18-23.01.29 | 2 000 000.00 | 2 166 839.60 | 0.16 |
| USD	JPMORGAN CHASE & CO 4.452%/3M LIBOR+133BP 18-05.12.29 | 500 000.00 | 577 653.55 | 0.04 |
| USD	JPMORGAN CHASE & CO 3.960%/3M LIBOR+124.5BP 19-29.01.27 | 4 000 000.00 | 4 431 258.40 | 0.33 |
| USD	JPMORGAN CHASE & CO 3.207%/VAR 19-01.04.23 | 5 000 000.00 | 5 157 990.00 | 0.39 |
| USD	JPMORGAN CHASE & CO 3.702%/VAR 19-06.05.30 | 5 000 000.00 | 5 528 816.00 | 0.42 |
| USD	JPMORGAN CHASE & CO 2.739%/VAR 19-15.10.30 | 5 000 000.00 | 5 179 151.50 | 0.39 |
| USD	LLOYDS BANKING GROUP PLC 3.870%/VAR 20-09.07.25 | 6 619 000.00 | 6 963 919.40 | 0.52 |
| USD	ROYAL BK OF SCOTLAND GP PLC 4.892%/VAR 18-18.05.29 | 3 000 000.00 | 3 371 863.50 | 0.25 |
| USD	WELLS FARGO & CO 2.188%/VAR 20-30.04.26 | 13 500 000.00 | 13 587 048.00 | 1.02 |
| Total USD |  | 105 750 544.53 | 7.94 |
| Total Notes, variabler Zins |  | 105 750 544.53 | 7.94 |
| Medium-Term Notes, fester Zins |  |  |  |
| USD |  |  |  |
| USD	ABN AMRO BANK NV-144A 2.65000% 18-19.01.21 | 2 000 000.00 | 2 018 160.00 | 0.15 |
| USD	AIR LEASE CORP 3.00000% 20-01.02.30 | 2 000 000.00 | 1 595 735.92 | 0.12 |
| USD	BANK OF AMERICA CORP-SUB 4.25000% 14-22.10.26 | 3 000 000.00 | 3 292 142.40 | 0.25 |
| USD	BANK OF AMERICA CORP-SUB 4.45000% 16-03.03.26 | 4 000 000.00 | 4 415 016.00 | 0.33 |
| USD	BANK OF AMERICA CORP 3.50000% 16-19.04.26 | 4 000 000.00 | 4 349 044.80 | 0.33 |
| USD	BANK OF AMERICA CORP-SUB 4.18300% 16-25.11.27 | 5 500 000.00 | 5 996 040.05 | 0.45 |
| USD	BANK OF MONTREAL 2.90000% 19-26.03.22 | 5 000 000.00 | 5 147 736.00 | 0.39 |
| USD	BANK OF MONTREAL 3.30000% 19-05.02.24 | 4 000 000.00 | 4 223 494.80 | 0.32 |
| USD	BANK OF NEW YORK CO 1.85000% 20-27.01.23 | 10 000 000.00 | 10 175 930.00 | 0.76 |
| USD	BANK OF NEW YORK MELLON CORP 2.95000% 18-29.01.23 | 2 100 000.00 | 2 201 076.99 | 0.16 |
| USD	BB&T CORP 2.85000% 17-26.10.24 | 2 000 000.00 | 2 107 519.00 | 0.16 |
| USD	CATERPILLAR FINANCIAL SERVICES CORP 2.85000% 19-17.05.24 | 4 000 000.00 | 4 242 493.20 | 0.32 |
| USD	CATERPILLAR FINANCIAL SERVICES CORP 2.40000% 17-06.06.22 | 3 000 000.00 | 3 087 205.50 | 0.23 |
| USD	GOLDMAN SACHS GROUP INC/THE 4.00000% 14-03.03.24 | 3 000 000.00 | 3 223 469.40 | 0.24 |
| USD	JOHN DEERE CAPITAL CORP 2.80000% 17-08.09.27 | 2 000 000.00 | 2 178 931.80 | 0.16 |
| USD	MCDONALD’S CORP 3.35000% 18-01.04.23 | 1 500 000.00 | 1 595 007.45 | 0.12 |
| USD	MORGAN STANLEY-SUB 4.35000% 14-08.09.26 | 3 000 000.00 | 3 306 080.10 | 0.25 |
| USD	MORGAN STANLEY-SUB 4.10000% 13-22.05.23 | 6 800 000.00 | 7 180 774.16 | 0.54 |
| USD	ROYAL BANK OF CANADA 3.70000% 18-05.10.23 | 3 000 000.00 | 3 214 276.50 | 0.24 |
| USD	SUMITOMO MITSUI FIN GP INC 3.01000% 16-19.10.26 | 1 000 000.00 | 1 048 130.00 | 0.08 |
| USD	TORONTO-DOMINION BANK 3.25000% 19-11.03.24 | 7 800 000.00 | 8 283 794.22 | 0.62 |
| USD	US BANCORP-SUB 3.60000% 14-11.09.24 | 2 000 000.00 | 2 166 637.20 | 0.16 |
| USD	WELLS FARGO & CO 3.75000% 19-24.01.24 | 4 000 000.00 | 4 269 249.60 | 0.32 |
| Total USD |  | 89 317 945.09 | 6.70 |
| Total Medium-Term Notes, fester Zins |  | 89 317 945.09 | 6.70 |
| Medium-Term Notes, variabler Zins |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 2.881%/VAR 17-24.04.23 | 1 475 000.00 | 1 507 145.26 | 0.11 |
| USD	BANK OF AMERICA CORP 3.559%/VAR 19-23.04.27 | 3 179 000.00 | 3 428 881.16 | 0.26 |
| USD	BANK OF AMERICA CORP 2.456%/VAR 19-22.10.25 | 5 000 000.00 | 5 113 870.50 | 0.38 |
| USD	MORGAN STANLEY 2.188%/VAR 20-28.04.26 | 5 000 000.00 | 5 061 128.00 | 0.38 |
| USD	MORGAN STANLEY 3.772%/VAR 18-24.01.29 | 2 000 000.00 | 2 196 443.00 | 0.17 |
| Total USD |  | 17 307 467.92 | 1.30 |
| Total Medium-Term Notes, variabler Zins |  | 17 307 467.92 | 1.30 |
| Anleihen, fester Zins |  |  |  |
| USD |  |  |  |
| USD	ALLSTATE CORP 3.28000% 16-15.12.26 | 3 167 000.00 | 3 453 025.07 | 0.26 |
| USD	ALLY FINANCIAL INC 4.62500% 15-19.05.22 | 1 000 000.00 | 1 022 500.00 | 0.08 |
| USD	ANDEAVR LOGIST LP/TESRO LOGIST FIN CORP 3.50000% 17-01.12.22 | 0.00 | 150.00 | 0.00 |
| USD	BALL CORP 4.87500% 18-15.03.26 | 2 000 000.00 | 2 150 000.00 | 0.16 |
| USD	BRANCH BANKING & TRUST CO-SUB 3.80000% 14-30.10.26 | 2 305 000.00 | 2 510 095.44 | 0.19 |
| USD	BURLINGTON NORTHERN SANTA FE CORP 3.00000% 15-01.04.25 | 1 250 000.00 | 1 346 451.38 | 0.10 |
| USD	CITIGROUP INC-SUB 4.30000% 14-20.11.26 | 3 000 000.00 | 3 259 804.80 | 0.25 |
| USD	CONSUMERS ENERGY CO 3.80000% 18-15.11.28 | 1 500 000.00 | 1 745 888.70 | 0.13 |

Focused SICAV – US Corporate Bond Sustainable USD
Halbjahresbericht per 30. April 2020
|  | Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- | --- |
|  |  | Nominal | NR Kursgewinn | Netto- |
|  |  |  | (-verlust) auf Futures/ | vermögens |
|  |  |  | Devisentermin- |  |
|  |  |  | kontrakten/ |  |
|  |  |  | Swaps (Erl. 1) |  |
|  |  |  |  |  |
| USD | ENERGY TRANSFER OPERATING LP 5.50000% 19-01.06.27 | 1 500 000.00 | 1 522 420.80 | 0.11 |
| USD | GENERAL MOTORS FINANCIAL CO INC 3.45000% 17-14.01.22 | 4 000 000.00 | 3 863 694.96 | 0.29 |
| USD | GILEAD SCIENCES INC 3.70000% 14-01.04.24 | 3 000 000.00 | 3 294 326.40 | 0.25 |
| USD | KEYBANK NA/CLEVELAND OH 6.50000% 15-22.05.22 | 3 000 000.00 | 3 076 066.50 | 0.23 |
| USD | MICROSOFT CORP 2.40000% 16-08.08.26 | 10 000 000.00 | 10 793 030.00 | 0.81 |
| USD | MIDAMERICAN ENERGY CO 3.65000% 19-15.04.29 | 2 000 000.00 | 2 325 068.20 | 0.18 |
| USD | NATIONAL RURAL UTILITIES COOP FIN CORP 3.05000% 17-25.04.27 | 2 000 000.00 | 2 119 865.60 | 0.16 |
| USD | NATIONAL RURAL UTILITIES COOP FIN CORP 3.90000% 18-01.11.28 | 2 000 000.00 | 2 245 748.40 | 0.17 |
| USD | NATL RURAL UTIL COOPERATIVE FIN CORP 3.70000% 19-15.03.29 | 5 000 000.00 | 5 618 885.00 | 0.42 |
| USD | NEXTERA ENERGY 2.75000% 20-01.05.25 | 11 700 000.00 | 12 450 400.56 | 0.93 |
| USD | PPL CAPITAL FUNDING INC 3.50000% 12-01.12.22 | 2 000 000.00 | 2 075 359.80 | 0.16 |
| USD | UNITEDHEALTH GROUP INC 3.75000% 15-15.07.25 | 1 000 000.00 | 1 119 605.20 | 0.08 |
| USD | VODAFONE GROUP PLC 3.75000% 18-16.01.24 | 4 000 000.00 | 4 316 362.40 | 0.32 |
| Total USD |  |  | 70 308 749.21 | 5.28 |
| Total Anleihen, fester Zins |  | 70 308 749.21 | 5.28 |
| Anleihen, variabler Zins |  |  |  |
| USD |  |  |  |
| USD	GOLDMAN SACHS GROUP INC 4.223%/VAR 18-01.05.29 | 500 000.00 | 555 051.60 | 0.04 |
| Total USD |  | 555 051.60 | 0.04 |
| Total Anleihen, variabler Zins | 555 051.60 | 0.04 |
| Total Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden | 934 763 255.02 | 70.16 |
| Wertpapiere und Geldmarktinstrumente, die an einem anderen geregelten Markt gehandelt werden |  |  |
| Notes, fester Zins |  |  |
| USD |  |  |
| USD	ABBVIE INC-144A 2.95000% 19-21.11.26	2 000 000.00 | 2 110 889.80 | 0.16 |
| USD	ABBVIE INC-144A 3.20000% 19-21.11.29	5 000 000.00 | 5 312 284.00 | 0.40 |
| USD	AETNA INC 2.75000% 12-15.11.22	1 045 000.00 | 1 077 945.20 | 0.08 |
| USD	ALIBABA GROUP HOLDING LTD 3.60000% 15-28.11.24	2 000 000.00 | 2 145 180.00 | 0.16 |
| USD	ALLERGAN FINANCE LLC 3.25000% 12-01.10.22	3 000 000.00 | 3 077 812.20 | 0.23 |
| USD	AT&T INC 4.12500% 16-17.02.26	1 000 000.00 | 1 100 907.40 | 0.08 |
| USD	AXA EQUITABLE HOLDINGS INC 3.90000% 19-20.04.23	3 000 000.00 | 3 117 728.40 | 0.23 |
| USD	AXA EQUITABLE HOLDINGS INC 4.35000% 19-20.04.28	1 500 000.00 | 1 568 944.20 | 0.12 |
| USD	BERKSHIRE HATHAWAY ENERGY CO 2.80000% 18-15.01.23	1 000 000.00 | 1 044 513.60 | 0.08 |
| USD	BRISTOL MYERS SQUIBB CO-144A 2.87500% 19-15.08.20	2 000 000.00 | 2 010 398.80 | 0.15 |
| USD	BRISTOL-MYERS SQUIBB CO-144A 2.60000% 19-16.05.22	4 900 000.00 | 5 064 208.31 | 0.38 |
| USD	BROADCOM INC-144A 4.25000% 19-15.04.26	2 000 000.00 | 2 143 467.20 | 0.16 |
| USD	CCO HOLDINGS LLC/CAPITAL CORP-144A 5.75000% 15-15.02.26	2 129 000.00 | 2 219 482.50 | 0.17 |
| USD	CF INDUSTRIES INC-144A 3.40000% 16-01.12.21	499 000.00 | 498 648.64 | 0.04 |
| USD	CHENIERE ENERGY PARTNERS LP 5.25000% 18-01.10.25	2 000 000.00 | 1 909 200.00 | 0.14 |
| USD	COMMONWEALTH BANK AUSTRALIA-144A 3.35000% 19-04.06.24	6 678 000.00 | 7 092 770.58 | 0.53 |
| USD	DAIMLER FINANCE NORTH AMERICA LLC-144A 2.20000% 16-30.10.21	1 000 000.00 | 983 037.21 | 0.07 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 5.30000% 19-01.10.29	3 000 000.00 | 3 123 076.50 | 0.23 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 4.42000% 16-15.06.21	6 334 000.00 | 6 436 858.46 | 0.48 |
| USD	DEUTSCHE TELEKOM INTL FINANCE BV-144A 1.95000% 16-19.09.21	3 000 000.00 | 3 009 336.00 | 0.23 |
| USD	DEUTSCHE TELEKOM INTL FINANCE BV-144A 3.60000% 17-19.01.27	3 500 000.00 | 3 807 098.75 | 0.29 |
| USD	EMERSON ELECTRIC CO 1.80000% 20-15.10.27	7 000 000.00 | 6 973 207.57 | 0.52 |
| USD	FIFTH THIRD BANK-SUB 3.85000% 16-15.03.26	2 000 000.00 | 2 149 697.20 | 0.16 |
| USD	GENERAL MILLS INC 3.15000% 11-15.12.21	2 250 000.00 | 2 312 859.82 | 0.17 |
| USD	GOLDMAN SACHS GROUP INC 3.75000% 15-22.05.25	2 000 000.00 | 2 136 472.80 | 0.16 |
| USD	HARLEY-DAVIDSON FIN.SERV INC-144A 3.35000% 18-15.02.23	5 200 000.00 | 5 081 144.95 | 0.38 |
| USD	HCA INC 5.00000% 14-15.03.24	5 000 000.00 | 5 423 862.00 | 0.41 |
| USD	HUMANA INC 3.85000% 14-01.10.24	2 000 000.00 | 2 158 096.40 | 0.16 |
| USD	INTERNATIONAL BUSINESS MACHINES CORP 2.87500% 15-09.11.22	3 000 000.00 | 3 148 411.80 | 0.24 |
| USD	JPMORGAN CHASE & CO-SUB 3.37500% 13-01.05.23	4 000 000.00 | 4 188 568.40 | 0.31 |
| USD	JPMORGAN CHASE & CO-SUB 3.62500% 16-01.12.27	1 000 000.00 | 1 077 632.40 | 0.08 |
| USD	MARATHON OIL CORP 2.80000% 12-01.11.22	2 000 000.00 | 1 881 896.78 | 0.14 |
| USD	MORGAN STANLEY 3.87500% 14-29.04.24	1 000 000.00 | 1 078 622.40 | 0.08 |
| USD	MPLX LP-144A 3.50000% 19-01.12.22	500 000.00 | 493 826.42 | 0.04 |
| USD	NOVA CHEMICALS CORP-144A 4.87500% 17-01.06.24	2 000 000.00 | 1 795 000.00 | 0.14 |
| USD	NXP BV / NXP FUNDING LLC-144A 5.55000% 18-01.12.28	2 000 000.00 | 2 284 100.00 | 0.17 |
| USD	NXP BV / NXP FUNDING LLC-144A 4.87500% 18-01.03.24	4 200 000.00 | 4 559 645.16 | 0.34 |
| USD	ONCOR ELECTRIC DELIVERY CO 4.10000% 12-01.06.22	2 000 000.00 | 2 102 850.60 | 0.16 |
| USD	PNC FINANCIAL SERVICES GROUP INC STEP-UP 12-09.11.22	6 580 000.00 | 6 879 789.40 | 0.52 |
| USD	PRICOA GLOBAL FUNDING I-144A 2.20000% 16-03.06.21	1 500 000.00 | 1 526 284.65 | 0.12 |
| USD	PRINCIPAL FINANCIAL GROUP 3.30000% 12-15.09.22	2 000 000.00 | 2 062 646.00 | 0.16 |
| USD	RABOBANK NEDERLAND NV-144A 3.87500% 18-26.09.23	6 570 000.00 | 6 975 681.73 | 0.52 |
| USD	SIEMENS FINANCIERINGSMAATSCH NV-144A 2.35000% 16-15.10.26	1 000 000.00 | 1 032 271.30 | 0.08 |
| USD	SIEMENS FINANCIERINGSMAATSCH NV-144A 3.12500% 17-16.03.24	1 000 000.00 | 1 064 597.80 | 0.08 |
| USD	SOCIETE GENERALE SA-144A 4.00000% 17-12.01.27	500 000.00 | 529 261.85 | 0.04 |
| USD	UNION PACIFIC CORP 3.75000% 14-15.03.24	1 000 000.00 | 1 078 661.90 | 0.08 |
| USD	VIACOMCBS INC 3.87500% 11-15.12.21	3 148 000.00 | 3 241 142.39 | 0.24 |
| USD	VOLKSWAGEN GRP OF AMERICA FINANCE-144A 4.62500% 18-13.11.25	1 000 000.00 | 1 056 765.30 | 0.08 |
| Total USD | 133 146 784.77 | 9.99 |
| Total Notes, fester Zins | 133 146 784.77 | 9.99 |
| Medium-Term Notes, fester Zins |  |  |
| USD |  |  |
| USD	AUSTRALIA & NEW ZEALAND BANKING GRP/NY 2.62500% 17-09.11.22	5 000 000.00 | 5 148 600.00 | 0.39 |
| USD	GENERAL ELECTRIC CO 4.65000% 11-17.10.21	5 000 000.00 | 5 193 355.00 | 0.39 |
| USD	GENERAL ELECTRIC CO 3.10000% 13-09.01.23	5 000 000.00 | 5 082 011.50 | 0.38 |
| USD	GOLDMAN SACHS GROUP INC/THE 3.85000% 14-08.07.24	3 000 000.00 | 3 203 833.20 | 0.24 |
| Total USD | 18 627 799.70 | 1.40 |
| Total Medium-Term Notes, fester Zins | 18 627 799.70 | 1.40 |
| Focused SICAV – US Corporate Bond Sustainable USD |  |  |
| Halbjahresbericht per 30. April 2020 |  |  |

| Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
| Anleihen, fester Zins |  |  |  |
| USD |  |  |  |
| USD	ANTHEM INC 3.30000% 12-15.01.23 | 4 239 000.00 | 4 469 688.07 | 0.34 |
| USD	BMW US CAPITAL LLC-144A 3.45000% 18-12.04.23 | 5 000 000.00 | 5 157 862.00 | 0.39 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 4.90000% 19-01.10.26 | 2 000 000.00 | 2 067 757.80 | 0.15 |
| USD	FIVE CORNERS FUNDING TRUST-144A 4.41900% 13-15.11.23 | 3 000 000.00 | 3 299 597.40 | 0.25 |
| USD	SOUTHERN CALIFORNIA EDISON CO 3.50000% 13-01.10.23 | 8 015 000.00 | 8 489 047.97 | 0.64 |
| Total USD |  | 23 483 953.24 | 1.77 |
| Total Anleihen, fester Zins |  | 23 483 953.24 | 1.77 |
| Total Wertpapiere und Geldmarktinstrumente, die an einem anderen geregelten Markt gehandelt werden |  | 175 258 537.71 | 13.16 |

Wertpapiere und Geldmarktinstrumente, die nicht an einer offiziellen Börse oder einem anderen geregelten Markt gehandelt werden
Notes, fester Zins
| USD |  |
| --- | --- |
| USD | FIFTH THIRD BANK 1.80000% 20-30.01.23 | 3 000 000.00 | 3 025 531.80 | 0.23 |
| USD | FOX CORP 4.70900% 20-25.01.29 | 2 000 000.00 | 2 327 759.40 | 0.17 |
| Total USD |  |  | 5 353 291.20 | 0.40 |
| Total Notes, fester Zins |  | 5 353 291.20 | 0.40 |
| Total Wertpapiere und Geldmarktinstrumente, die nicht an einer offiziellen Börse oder einem anderen geregelten Markt gehandelt werden |  | 5 353 291.20 | 0.40 |
| Neuemittierte Wertpapiere und Geldmarktinstrumente |  |  |  |
| Notes, fester Zins |  |  |  |
| USD |  |  |  |
| USD	BRISTOL MYERS SQUIBB CO-144A 3.87500% 19-15.08.25 | 7 520 000.00 | 8 567 398.38 | 0.64 |
| USD	BRISTOL-MYERS SQUIBB CO-144A 2.90000% 19-26.07.24 | 5 000 000.00 | 5 411 483.00 | 0.41 |
| USD	PRICOA GLOBAL FUNDING I-144A 2.40000% 19-23.09.24 | 5 000 000.00 | 5 196 740.00 | 0.39 |
| Total USD |  | 19 175 621.38 | 1.44 |
| Total Notes, fester Zins |  | 19 175 621.38 | 1.44 |
| Notes, variabler Zins |  |  |  |
| USD |  |  |  |
| USD	BNP PARIBAS-144A 3.052%/VAR 20-13.01.31 | 7 000 000.00 | 7 000 031.50 | 0.53 |
| Total USD |  | 7 000 031.50 | 0.53 |
| Total Notes, variabler Zins |  | 7 000 031.50 | 0.53 |
| Medium-Term Notes, fester Zins |  |  |  |
| USD |  |  |  |
| USD	SOCIETE GENERALE SA-144A 2.62500% 20-22.01.25 | 9 000 000.00 | 8 987 355.27 | 0.67 |
| Total USD |  | 8 987 355.27 | 0.67 |
| Total Medium-Term Notes, fester Zins |  | 8 987 355.27 | 0.67 |
| Total Neuemittierte Wertpapiere und Geldmarktinstrumente |  | 35 163 008.15 | 2.64 |
| Total des Wertpapierbestandes |  | 1 150 538 092.08 | 86.36 |

| Derivative Instrumente |  |
| --- | --- |
| Derivative Instrumente, die an einer offiziellen Börse gehandelt werden Finanzterminkontrakte auf Anleihen |
|  |  |  |  |
| USD	US 10YR TREASURY NOTE FUTURE 19.06.20 | 270.00 | -4 218.75 | 0.00 |
| Total Finanzterminkontrakte auf Anleihen |  | -4 218.75 | 0.00 |
| Total Derivative Instrumente, die an einer offiziellen Börse gehandelt werden |  | -4 218.75 | 0.00 |
| Total Derivative Instrumente |  | -4 218.75 | 0.00 |
| Devisenterminkontrakte Devisenterminkontrakte (Kauf/Verkauf) |  |  |  |

| GBP | 15 455 900.00 | USD | 19 292 365.04 | 20.5.2020 | 204 204.44 | 0.02 |
| --- | --- | --- | --- | --- | --- | --- |
| CHF | 304 768 300.00 | USD | 315 347 580.64 | 20.5.2020 | 576 264.79 | 0.04 |
| EUR | 225 245 900.00 | USD | 245 074 071.33 | 20.5.2020 | 1 725 300.88 | 0.13 |
| GBP | 228 400.00 | USD | 285 725.32 | 20.5.2020 | 2 385.79 | 0.00 |
| EUR | 20 677 400.00 | USD | 22 462 771.49 | 20.5.2020 | 193 220.65 | 0.02 |
| CHF | 59 393 300.00 | USD | 61 375 704.57 | 20.5.2020 | 191 590.09 | 0.01 |
| GBP | 324 400.00 | USD | 399 900.21 | 20.5.2020 | 9 308.39 | 0.00 |
| GBP | 179 000.00 | USD | 221 234.32 | 20.5.2020 | 4 562.04 | 0.00 |
| EUR | 34 067 200.00 | USD | 36 783 210.93 | 20.5.2020 | 543 832.86 | 0.04 |
| GBP | 5 037 000.00 | USD | 6 211 034.54 | 20.5.2020 | 142 799.30 | 0.01 |

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

Devisenterminkontrakte
Devisenterminkontrakte (Kauf/Verkauf)
| CHF | 16 201 900.00 | USD | 16 635 989.53 | 20.5.2020 | 158 954.53 | 0.01 |
| --- | --- | --- | --- | --- | --- | --- |
| CHF | 46 782 600.00 | USD | 47 962 132.73 | 20.5.2020 | 532 867.87 | 0.04 |
| EUR | 14 423 700.00 | USD | 15 636 949.53 | 20.5.2020 | 166 934.60 | 0.01 |
| GBP | 306 400.00 | USD | 380 221.87 | 20.5.2020 | 6 280.95 | 0.00 |
| EUR | 3 540 600.00 | USD | 3 841 413.62 | 20.5.2020 | 37 981.55 | 0.00 |
| CHF | 12 051 500.00 | USD | 12 379 787.20 | 20.5.2020 | 112 838.26 | 0.01 |
| GBP | 378 300.00 | USD | 471 442.60 | 20.5.2020 | 5 757.19 | 0.00 |
| USD | 8 723 830.31 | EUR | 8 038 100.00 | 4.5.2020 | -80 300.62 | -0.01 |
| EUR | 8 038 100.00 | USD | 8 726 477.26 | 20.5.2020 | 80 777.54 | 0.01 |
| GBP | 3 664 300.00 | USD | 4 556 879.51 | 20.5.2020 | 65 386.39 | 0.01 |
| USD | 23 697 390.85 | EUR | 21 788 300.00 | 5.5.2020 | -167 334.14 | -0.01 |
| EUR | 21 788 300.00 | USD | 23 703 883.76 | 20.5.2020 | 169 308.88 | 0.01 |
| USD | 200 594 384.33 | GBP | 159 416 700.00 | 5.5.2020 | -485 870.22 | -0.04 |
| GBP | 157 737 700.00 | USD | 198 490 670.21 | 20.5.2020 | 484 739.00 | 0.04 |
| Total Devisenterminkontrakte (Kauf/Verkauf) | 4 681 791.01 | 0.35 |
|  |  |  |
| Bankguthaben, Sicht- und Fristgelder und andere liquide Mittel | 135 114 184.40 | 10.14 |
| Andere Aktiva und Passiva | 41 972 301.66 | 3.15 |
| Total des Nettovermögens | 1 332 302 150.40 | 100.00 |

Focused SICAV – US Corporate Bond Sustainable USD Halbjahresbericht per 30. April 2020