# Statement of Cash Flows
## for the six months financial period ended 30 June 2020 (continued)
|  | MSCI United Kingdom IMI Socially Responsible | Factor MSCI USA Low Volatility | Factor MSCI USA Prime Value |
| --- | --- | --- | --- |
|  | UCITS ETF GBP | UCITS ETF USD | UCITS ETF USD |
| Cash flows provided by operating activities |  |  |  |
| Increase in net assets attributable to redeemable participating shareholders from operations | (43,427,141) | (18,501,188) | (4,282,167) |
| Adjustment for: |  |  |  |
| Other income | (237) | (509) | (313) |
| Dividend income | (4,117,407) | (1,662,618) | (528,349) |
| Securities lending income Distributions to holders of redeemable | - | (3,201) | (647) |
| participating shares | 5,026,646 | 762,020 | 310,313 |
| Taxation on income | 11,409 | 222,915 | 72,485 |
| Total | (42,506,730) | (19,182,581) | (4,428,678) |
| Net loss on financial assets and liabilities at fair value through profit or loss | 42,590,423 | 19,344,241 | 4,276,085 |
| Payments for purchase of investments | (84,375,942) | (87,661,746) | (32,279,356) |
| Proceeds from sale of investments | 63,650,248 | 74,366,050 | 22,435, 81 |
| Movement in margin cash | (341,054) | (42,805) | 5,955 |
| Movement in payables | (4,631) | (20,363) | 1,075 |
| Cash used in operations | (20,987,686) | (13,197,204) | (9,989,038) |
| Other income received | 237 | 509 | 313 |
| Dividends received	4,375,749	1,767,568	514,139 |
| Securities lending income received | - | 3,201 | 647 |
| Withholding Tax paid | (11,409) | (222,915) | (72,485) |
| Net cash flows used in operating activities | (16,623,109) | (11,648,841) | (9,546,424) |
| Financing activities |  |  |  |
| Distributions paid to holders of redeemable participating shares | (5,026,646) | (762,020) | (310,313) |
| Issue of redeemable participating shares |  |  |  |
| during the financial period | 41,486,005 | 53,686,924 | 21,982,145 |
| Redemption of redeemable participating shares during the financial period | (18,612,442) | (41,647,745) | (12,135,608) |
| Net cash flows provided by financing |  |  |  |
| activities | 17,846,917 | 11,277,159 | 9,536,224 |
| Net increase/(decrease) in cash and cash equivalents | 1,223,808 | (371,682) | (10,200) |
| Cash and cash equivalents at the start of the financial period | (17,923) | 126,219 | 86,074 |
| Cash and cash equivalents at the end of the financial period | 1,205,885 | (245,463) | 75,874 |

The accompanying notes are an integral part of these financial statements.
| Statement of Cash Flows |  |  |
| --- | --- | --- |
| for the six months financial period ended 30 June | 2020 (continued) |
|  | Factor MSCI | MSCI USA Select | MSCI ACWI Socially |
|  | USA Quality UCITS ETF USD | Factor Mix UCITS ETF USD | Responsible UCITS ETF USD |
| Cash flows provided by operating activities |  |  |  |
| Increase in net assets attributable to |  |  |  |
| redeemable participating shareholders from operations | (6,612,056) | (28,411,828) | (68,770,787) |
| Adjustment for: |  |  |  |
| Other income | (1,055) | (5,347) | (1,902) |
| Dividend income | (2,466,643) | (5,205,773) | (13,299,914) |
| Securities lending income | (580) | (19,857) | - |
| Distributions to holders of redeemable participating shares | 974,580 | 3,292,972 | 1,055,027 |
| Taxation on income | 354,235 | 684,143 | 1,824,041 |
| Total | (7,751,519) | (29,665,690) | (79,193,535) |
| Net loss on financial assets and liabilities at fair value through profit or loss | 3,377,912 | 32,111,951 | 79,527,203 |
| Payments for purchase of investments | (437,524,927) | (68,728,684) | (619,515,195) |
| Proceeds from sale of investments | 301,353,234 | 1,395,894,448 | 272,203,158 |
| Movement in margin cash | (123,935) | 1,284,049 | (1,576,652) |
| Movement in payables | 29,924 | (356,225) | 59,511 |
| Cash (used in)/provided by operations | (140,639,311) | 1,330,539,849 | (348,495,510) |
| Other income received | 1,055 | 5,347 | 1,902 |
| Dividends received | 2,389,555 | 6,797,705 | 13,061,707 |
| Securities lending income received | 580 | 19,857 | - |
| Withholding Tax paid | (354,235) | (684,143) | (1,824,041) |
| Net cash flows provided by/(used in) operating activities | (138,602,356) | 1,336,678,615 | (337,255,942) |
| Financing activities |  |  |  |
| Distributions paid to holders of redeemable participating shares | (974,580) | (3,292,972) | (1,055,027) |
| Issue of redeemable participating shares during the financial period | 412,092,774 | 59,093,495 | 576,471,195 |
| Redemption of redeemable participating shares during the financial period | (271,744,044) | (1,396,297,349) | (236,271,285) |
| Net cash flows provided by/(used in) |  |  |  |
| financing activities | 139,374,150 | (1,340,496,826) | 339,144,883 |
| Net increase/(decrease) in cash and cash equivalents | 771,794 | (3,818,211) | 1,888,941 |
| Cash and cash equivalents at the start of the financial period | 361,823 | 4,030,115 | 7,088,556 |
| Cash and cash equivalents at the end of the financial period | 1,133,617 | 211,904 | 8,977,497 |

The accompanying notes are an integral part of these financial statements.

Translation (ENDE, 2020-06-30):
# Kapitalflussrechnung
### für den sechsmonatigen Berichtszeitraum zum 30. Juni 2020
|  | MSCI USA UCITS ETF USD | MSCI USA Value UCITS ETF USD | MSCI World UCITS ETF USD |
| --- | --- | --- | --- |
| Mittelzufluss aus laufender Geschäftstätigkeit |  |  |  |
| Zunahme des Inhabern rückkaufbarer gewinnberechtigter Aktien zuzurechnenden Nettovermögens aus der Geschäftstätigkeit | (116.525.458) | (114.235.826) | (6.446.879) |
| Berichtigung für: |  |  |  |
| Sonstige Erträge | (6.287) | (1.441) | (956) |
| Dividendenerträge | (16.757.664) | (7.589.836) | (1.733.005) |
| Erträge aus Wertpapierleihe | (44.776) | (10.587) | (28.245) |
| Ausschüttungen an Inhaber rückkaufbarer gewinnberechtigter Aktien | 2.100.673 | 6.885.858 | 938.854 |
| Quellensteuer | 2.336.508 | 1.051.570 | 236.414 |
| Insgesamt | (128.897.004) | (113.900.262) | (7.033.817) |
| Nettoverlust aus erfolgswirksam zum beizulegenden Zeitwert bewerteten finanziellen |  |  |  |
| Vermögenswerten und Verbindlichkeiten | 122.408.524 | 113.427.683 | 6.790.152 |
| Zahlungen für den Erwerb von Anlagen | (622.138.234) | (236.218.314) | (27.604.291) |
| Erlöse aus der Veräusserung von Anlagen | 692.440.522 | 228.488.994 | 4.553.820 |
| Entwicklung der Einschusszahlungen | (745.688) | (331.758) | (263.994) |
| Veränderung der Verbindlichkeiten | (30.805) | (16.119) | 3.997 |
| Mittelzufluss/(-abfluss) aus der |  |  |  |
| Geschäftstätigkeit | 63.037.315 | (8.549.776) | (23.554.133) |
| Sonstige vereinnahmte Erträge | 6.287 | 1.441 | 956 |
| Erhaltene Dividenden	17.211.2817.818.674	1.718.111 |
| Erhaltene Erträge aus Wertpapierleihe | 44.776 | 10.587 | 28.245 |
| Gezahlte Quellensteuern | (2.336.508) | (1.051.570) | (236.414) |
| Nettomittelzufluss/(-abfluss) aus laufender Geschäftstätigkeit | 77.963.151 | (1.770.644) | (22.043.235) |
| Finanzierungstätigkeit |  |  |  |
| An Inhaber rückkaufbarer |  |  |  |
| gewinnberechtigter Aktien gezahlte Ausschüttungen | (2.100.673) | (6.885.858) | (938.854) |
| Ausgabe von rückkaufbaren gewinnberechtigten Aktien im |  |  |  |
| Berichtszeitraum Rücknahme von rückkaufbaren gewinnberechtigten Aktien im Berichtszeitraum | 697.398.870 (773.939.708) | 194.561.164 (190.524.679) | 25.514.656 (2.749.636) |
| Nettomittel(abfluss)/-zufluss aus der Finanzierungstätigkeit | (78.641.511) | (2.849.373) | 21.826.166 |
| Nettoabnahme von Zahlungsmitteln und Zahlungsmitteläquivalenten | (678.360) | (4.620.017) | (217.069) |
| Zahlungsmittel und |  |  |  |
| Zahlungsmitteläquivalente zu Beginn des Berichtszeitraums | 4.462.620 | 5.514.849 | 567.114 |
| Zahlungsmittel und |  |  |  |
| Zahlungsmitteläquivalente am Ende des Berichtszeitraums | 3.784.260 | 894.832 | 350.045 |


#### Die beiliegenden Erläuterungen sind wesentlicher Bestandteil dieses Abschlusses.