# DWS Invest ESG Equity Income
DWS INVEST ESG EQUITY INCOME

### Performance of share classes (in EUR)
| Share class | ISIN | 6 months |
| --- | --- | --- |
| Class LC | LU1616932866 | -6.8% |
| Class FC | LU1616932601 | -6.5% |
| Class FD | LU1616932783 | -6.5% |
| Class IC | LU2052962128 | -6.4% |
| Class IC250 | LU2425458937 | -4.5% |
| Class ID | LU2052963100 | -6.3% |
| Class ID100 | LU2241091565 | -6.2% |
| Class LCH (P) | LU1729940673 | -11.2% |
| Class LD | LU1616932940 | -6.8% |
| Class NC | LU1729948221 | -7.1% |
| Class NCH (P) | LU1747711205 | -11.4% |
| Class ND | LU2066748653 | -7.1% |
| Class PFC | LU1747711387 | -7.4% |
| Class PFCH (P) | LU1747711460 | -11.2% |
| Class PFD | LU2066748737 | -7.4% |
| Class TFC | LU1747711031 | -6.5% |
| Class TFCH (P) | LU1982201086 | -10.8% |
| Class TFD | LU1747711114 | -6.5% |
| Class WFD | LU1805361166 | -6.5% |
| Class XC | LU1616933088 | -6.3% |
| Class XD | LU1616933161 | -6.3% |
| Class CHF LCH (P) 1 | LU2229437525 | -11.2% |
| Class CHF LDH (P) 1 | LU2229437798 | -11.3% |
| Class CHF TFCH (P) 1 | LU2367179251 | -10.8% |
| Class GBP D RD 2 | LU1820750781 | -4.5% |
| Class USD FCH (P) 3 | LU1932912873 | -10.1% |
| Class USD IC 3 | LU2022030352 | -14.0% |
| Class USD LCH (P) 3 | LU1932913178 | -10.4% |

1 
in CHF
2 
in GBP
3 
in USD
“BVI method” performance, i.e., excluding the initial sales charge.
Past performance is no guide to future results.	As of: June 30, 2022
The format used for complete dates
in security names in the investment
portfolio is “day/month/year”.
DWS Invest ESG Equity Income
| Statement of net assets as of June 30, 2022 |  |
| --- | --- |
|  | Amount in EUR | % of net assets |
| I. Assets |  |  |
| 1. Equities (sectors) Information Technology | 221 000 160.14 | 8.21 |
| Telecommunication Services | 343 717 926.90 | 12.79 |
| Consumer Discretionaries | 697 261 054.56 | 25.94 |
| Energy | 120 235 082.25 | 4.47 |
| Consumer Staples | 99 626 162.76 | 3.70 |
| Financials | 343 962 660.68 | 12.78 |
| Basic Materials | 237 892 002.48 | 8.86 |
| Industrials | 194 591 400.75 | 7.23 |
| Utilities | 189 103 382.73 | 7.04 |
| Total equities | 2 447 389 833.25 | 91.02 |
| 2. Derivatives | 128 603.64 | 0.00 |
| 3. Cash at bank | 240 060 083.26 | 8.93 |
| 4. Other assets | 5 043 529.31 | 0.18 |
| 5. Receivables from share certificate transactions | 4 273 594.36 | 0.16 |
| II. Liabilities |  |  |
| 1. Other liabilities | -5 911 140.35 | -0.22 |
| 2. Liabilities from share certificate transactions | -2 006 137.15 | -0.07 |
|  |  |  |
| III. Net assets | 2 688 978 366.32 | 100.00 |

Negligible rounding errors may have arisen due to the rounding of calculated percentages.
| Investment portfolio – June 30, 2022 |  |
| --- | --- |
|  | Count/ | Quantity/ | Purchases/ | Sales/ | Currency | Market price | Total market | % of |
| Security name | units/ currency | principal amount | additions in the | disposals reporting period |  |  | value in EUR | net assets |
| Securities traded on an exchange |  |  |  |  |  |  | 2 447 389 833.25 | 91.02 |
| Equities BCE, Inc. ........................................  | Count | 1 158 061 | 278 921 |  | CAD | 62.87 | 54 211 381.95 | 2.02 |
| Canadian National Railway Co. .......................  | Count | 297 698 | 40 578 |  | CAD | 142.23 | 31 527 004.51 | 1.17 |
| Pembina Pipeline Corp. .............................  | Count | 1 450 000 | 566 855 |  | CAD | 45.05 | 48 638 299.14 | 1.81 |
| Toronto-Dominion Bank .............................  | Count | 636 689 | 120 142 |  | CAD | 82.88 | 39 290 962.79 | 1.46 |
| Geberit AG .......................................  | Count | 27 692 | 9 753 |  | CHF | 454 | 12 629 494.20 | 0.47 |
| Novartis AG ......................................  | Count | 459 579 | 175 448 |  | CHF | 80.33 | 37 086 318.58 | 1.38 |
| Roche Holding AG .................................  | Count | 105 000 | 30 214 |  | CHF | 316 | 33 331 293.17 | 1.24 |
| SGS SA .........................................  | Count | 8 022 | 3 598 |  | CHF | 2 168 | 17 470 998.14 | 0.65 |
| Novo Nordisk A/S .................................  | Count | 223 844 |  |  | DKK | 783.3 | 23 570 938.10 | 0.88 |
| Orsted AS .......................................  | Count | 532 569 | 206 440 |  | DKK | 733.3 | 52 500 187.11 | 1.95 |
| Allianz SE ........................................  | Count | 123 021 | 13 460 |  | EUR | 180.38 | 22 190 527.98 | 0.82 |
| AXA SA .........................................  | Count | 596 672 | 113 752 |  | EUR | 21.42 | 12 780 714.24 | 0.48 |
| Capgemini SE ....................................  | Count | 175 000 | 37 796 |  | EUR | 163.95 | 28 691 250.00 | 1.07 |
| Cie de Saint-Gobain ................................  | Count | 281 887 | 37 240 |  | EUR | 40.11 | 11 306 487.57 | 0.42 |
| Deutsche Boerse AG ...............................  | Count | 109 483 | 42 992 | 52 858 | EUR | 158.95 | 17 402 322.85 | 0.65 |
| Deutsche Post AG .................................  | Count | 470 000 | 50 340 |  | EUR | 35.225 | 16 555 750.00 | 0.62 |
| Deutsche Telekom AG ..............................  | Count | 1 346 172 | 1 346 172 |  | EUR | 18.896 | 25 437 266.11 | 0.95 |
| E.ON SE  ........................................  | Count | 1 862 463 | 208 657 |  | EUR | 7.926 | 14 761 881.74 | 0.55 |
| Enel SpA ........................................  | Count | 3 750 000 | 614 810 |  | EUR | 5.215 | 19 556 250.00 | 0.73 |
| Evonik Industries AG ...............................  | Count | 680 242 | 362 103 | 448 823 | EUR | 20.02 | 13 618 444.84 | 0.51 |
| Hannover Rueck SE ................................  | Count | 226 763 | 113 617 |  | EUR | 136.7 | 30 998 502.10 | 1.15 |
| Koninklijke Ahold Delhaize NV ........................  | Count | 1 821 671 | 871 483 |  | EUR | 24.68 | 44 958 840.28 | 1.67 |
| Koninklijke Philips NV ..............................  | Count | 834 283 | 234 283 |  | EUR | 20.215 | 16 865 030.85 | 0.63 |
| Neste Oyj  .......................................  | Count | 542 330 | 347 893 |  | EUR | 41.82 | 22 680 240.60 | 0.84 |
| Sampo Oyj -A- ....................................  | Count | 532 948 |  |  | EUR | 41.4 | 22 064 047.20 | 0.82 |
| Sanofi ..........................................  | Count | 326 672 | 388 344 | 326 672 | EUR | 96.5 | 31 523 848.00 | 1.17 |
| SAP SE  .........................................  | Count | 135 000 | 48 886 |  | EUR | 85.45 | 11 535 750.00 | 0.43 |
| Schneider Electric SE  ..............................  | Count | 160 087 | 118 379 | 23 930 | EUR | 111.34 | 17 824 086.58 | 0.66 |
| Smurfit Kappa Group PLC ...........................  | Count | 440 000 | 440 000 |  | EUR | 31.54 | 13 877 600.00 | 0.52 |
| Talanx AG ........................................  | Count | 420 657 |  |  | EUR | 35.96 | 15 126 825.72 | 0.56 |
| Unilever PLC .....................................  | Count | 820 000 | 35 878 |  | EUR | 43.195 | 35 419 900.00 | 1.32 |
| UPM-Kymmene Oyj  ...............................  | Count | 500 000 | 500 000 |  | EUR | 28.86 | 14 430 000.00 | 0.54 |
| Wolters Kluwer NV ................................  | Count | 157 351 |  |  | EUR | 92.3 | 14 523 497.30 | 0.54 |
| Croda International PLC  ............................  | Count | 118 805 |  |  | GBP | 63.62 | 8 825 424.64 | 0.33 |
| HSBC Holdings PLC  ...............................  | Count | 2 500 000 | 1 670 235 | 1 585 759 | GBP | 5.287 | 15 433 219.98 | 0.57 |
| National Grid PLC .................................  | Count | 3 644 058 | 644 058 |  | GBP | 10.593 | 45 070 355.22 | 1.68 |
| Pearson PLC  .....................................  | Count | 1 858 461 | 439 305 |  | GBP | 7.436 | 16 136 155.13 | 0.60 |
| Hong Kong Exchanges & Clearing Ltd  .................  | Count | 280 000 | 37 700 |  | HKD | 386 | 13 224 978.67 | 0.49 |
| Ping An Insurance Group Co. of China Ltd ..............  | Count | 3 000 000 | 700 000 |  | HKD | 53.35 | 19 584 176.87 | 0.73 |
| Bridgestone Corp. .................................  | Count | 713 700 | 371 800 |  | JPY | 4 950 | 24 955 920.57 | 0.93 |
| FANUC Corp. .....................................  | Count | 94 100 | 12 800 |  | JPY | 21 240 | 14 118 769.07 | 0.52 |
| Nippon Telegraph & Telephone Corp. ..................  | Count | 1 948 300 | 368 700 |  | JPY | 3 896 | 53 620 082.48 | 1.99 |
| Tokio Marine Holdings, Inc. ..........................  | Count | 428 800 |  | 85 400 | JPY | 7 903 | 23 938 639.11 | 0.89 |
| Samsung Electronics Co., Ltd ........................  | Count | 312 385 | 312 385 |  | KRW | 57 000 | 13 166 689.96 | 0.49 |
| SK Telecom Co., Ltd ...............................  | Count | 674 802 | 388 802 |  | KRW | 52 000 | 25 947 247.02 | 0.96 |
| DNB Bank ASA  ...................................  | Count | 1 594 044 | 112 178 |  | NOK | 175.9 | 27 147 373.41 | 1.01 |
| Gjensidige Forsikring ASA ...........................  | Count | 252 387 |  | 244 643 | NOK | 199.7 | 4 879 852.76 | 0.18 |
| Norsk Hydro ASA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | Count | 3 389 783 | 3 389 783 |  | NOK | 54.7 | 17 952 333.02 | 0.67 |
| Telenor ASA ......................................  | Count | 2 256 521 |  |  | NOK | 131.15 | 28 652 950.31 | 1.07 |
| Boliden AB .......................................  | Count | 792 409 | 792 409 |  | SEK | 325.4 | 24 074 581.92 | 0.90 |
| Swedbank AB  ....................................  | Count | 1 540 203 | 681 972 |  | SEK | 128.9 | 18 536 284.57 | 0.69 |
| DBS Group Holdings Ltd ............................  | Count | 1 700 000 | 485 000 |  | SGD | 29.68 | 34 779 918.34 | 1.29 |
| Taiwan Semiconductor Manufacturing Co., Ltd  ..........  | Count | 2 933 000 | 128 000 |  | TWD | 476 | 45 080 951.10 | 1.68 |
| AbbVie, Inc. ......................................  | Count | 256 742 | 124 597 |  | USD | 152.29 | 37 539 492.34 | 1.40 |
| Accenture PLC  ...................................  | Count | 66 244 | 8 120 |  | USD | 276.21 | 17 567 341.14 | 0.65 |
| Amgen, Inc. ......................................  | Count | 128 036 | 24 712 |  | USD | 241.94 | 29 741 294.18 | 1.11 |
| AT&T, Inc. .......................................  | Count | 1 747 254 | 1 747 254 |  | USD | 20.885 | 35 035 684.88 | 1.30 |
| Automatic Data Processing, Inc. ......................  | Count | 76 171 | 17 636 | 82 970 | USD | 210.35 | 15 383 397.50 | 0.57 |
| Baker Hughes Co. .................................  | Count | 1 700 000 | 574 362 |  | USD | 29.97 | 48 916 542.51 | 1.82 |
| Bristol-Myers Squibb Co.  ...........................  | Count | 568 792 | 568 792 |  | USD | 76.9 | 41 995 224.55 | 1.56 |
| Colgate-Palmolive Co. ..............................  | Count | 370 000 | 64 504 |  | USD | 79.54 | 28 255 786.43 | 1.05 |
| Corning, Inc. .....................................  | Count | 506 082 | 49 574 |  | USD | 31.47 | 15 291 064.57 | 0.57 |
| Eversource Energy  ................................  | Count | 711 206 | 213 701 |  | USD | 83.79 | 57 214 708.66 | 2.13 |
| Fidelity National Information Services, Inc. ..............  | Count | 304 095 | 304 095 |  | USD | 90.66 | 26 469 460.08 | 0.98 |
| Gilead Sciences, Inc. ...............................  | Count | 507 028 | 253 969 |  | USD | 61.63 | 30 001 585.02 | 1.12 |
| Hasbro, Inc. ......................................  | Count | 313 105 | 174 060 | 71 687 | USD | 81.84 | 24 602 300.13 | 0.91 |
| International Flavors & Fragrances, Inc. ................  | Count | 214 181 | 99 181 |  | USD | 116.48 | 23 952 585.14 | 0.89 |
| Johnson Controls International Plc ....................  | Count | 615 256 | 296 751 |  | USD | 47.78 | 28 224 229.29 | 1.05 |
| Medtronic PLC  ...................................  | Count | 475 000 | 150 524 |  | USD | 89.51 | 40 821 151.88 | 1.52 |
| Merck & Co, Inc. ..................................  | Count | 678 854 | 197 929 |  | USD | 92.29 | 60 152 144.61 | 2.24 |
| Microsoft Corp. ...................................  | Count | 91 395 |  | 23 314 | USD | 255.12 | 22 386 542.91 | 0.83 |
| Mondelez International, Inc. .........................  | Count | 457 460 | 95 648 |  | USD | 61.97 | 27 217 906.03 | 1.01 |
| Motorola Solutions, Inc. ............................  | Count | 179 373 | 88 508 |  | USD | 207.3 | 35 700 677.87 | 1.33 |
| Newmont Corp. ...................................  | Count | 691 043 | 41 842 |  | USD | 61.11 | 40 545 013.04 | 1.51 |
| Nutrien Ltd  ......................................  | Count | 521 187 | 521 187 |  | USD | 80.3 | 40 181 783.41 | 1.49 |
| PepsiCo, Inc. .....................................  | Count | 272 540 |  |  | USD | 167.02 | 43 703 761.70 | 1.62 |

| Pfizer, Inc. .......................................  | Count | 782 366 | 51 125 | USD | 51.5 | 38 684 526.57 | 1.44 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Procter & Gamble Co. ..............................  | Count | 465 908 | 112 044 | USD | 142.04 | 63 537 616.63 | 2.36 |
| QUALCOMM, Inc. .................................  | Count | 300 527 | 55 626 | USD | 126.16 | 36 402 001.64 | 1.35 |
| State Street Corp. .................................  | Count | 455 709 | 167 770 | USD | 60.76 | 26 584 314.09 | 0.99 |
| TE Connectivity Ltd ................................  | Count | 288 096 | 38 880 | USD | 110.55 | 30 578 491.99 | 1.14 |
| Texas Instruments, Inc. .............................  | Count | 135 437 | 12 226 | USD | 151.5 | 19 700 173.31 | 0.73 |
| Union Pacific Corp. ................................  | Count | 157 682 |  | USD | 210.23 | 31 827 087.54 | 1.18 |
| Verizon Communications, Inc. ........................  | Count | 804 677 | 804 677 | USD | 50.69 | 39 161 919.28 | 1.46 |
| VF Corp.  ........................................  | Count | 357 526 | 136 891 | USD | 43.44 | 14 911 369.61 | 0.55 |
| Wheaton Precious Metals Corp. ......................  | Count | 1 149 093 | 1 149 093 | USD | 36.65 | 40 434 236.47 | 1.50 |
| WW Grainger, Inc. .................................  | Count | 81 231 | 27 370 | USD | 450.78 | 35 156 572.45 | 1.31 |
| Total securities portfolio |  |  |  |  |  | 2 447 389 833.25 | 91.02 |
| Derivatives (Minus signs denote short positions) |  |  |  |  |  |  |  |
| Currency derivatives Receivables/payables |  |  |  |  |  | 128 603.64 | 0.00 |
| Forward currency transactions |  |  |  |  |  |  |  |
| Forward currency transactions (long) |  |  |  |  |  |  |  |
| Open positions CHF/EUR 1.7 million ................................  |  |  |  |  |  | 30 498.45 | 0.00 |
| CHF/GBP 0.3 million ................................  |  |  |  |  |  | 4 117.45 | 0.00 |
| CHF/JPY 0.5 million.................................  |  |  |  |  |  | 3 862.36 | 0.00 |
| CHF/USD 4.4 million ................................  |  |  |  |  |  | 11 666.36 | 0.00 |
| USD/EUR 1.5 million ................................  |  |  |  |  |  | 22 093.45 | 0.00 |
| Closed positions CHF/USD 1.0 million ................................  |  |  |  |  |  | -135.93 | 0.00 |
| USD/EUR 3.3 million ................................  |  |  |  |  |  | 67.03 | 0.00 |
| Forward currency transactions (short) |  |  |  |  |  |  |  |
| Open positions CHF/CAD 0.9 million ................................  |  |  |  |  |  | 1 447.05 | 0.00 |
| CHF/DKK 2.2 million ................................  |  |  |  |  |  | 5 382.16 | 0.00 |
| CHF/HKD 1.0 million ................................  |  |  |  |  |  | 348.33 | 0.00 |
| CHF/KRW 226.2 million..............................  |  |  |  |  |  | 2 245.44 | 0.00 |
| CHF/NOK 3.2 million ................................  |  |  |  |  |  | 3 874.47 | 0.00 |
| CHF/SEK 1.8 million.................................  |  |  |  |  |  | 3 757.23 | 0.00 |
| CHF/SGD 0.2 million ................................  |  |  |  |  |  | 1 171.55 | 0.00 |
| CHF/TWD 5.8 million................................  |  |  |  |  |  | 1 966.36 | 0.00 |
| EUR/CAD 0.5 million ................................  |  |  |  |  |  | -6 494.21 | 0.00 |
| EUR/DKK 1.3 million ................................  |  |  |  |  |  | -46.01 | 0.00 |
| EUR/GBP 0.2 million ................................  |  |  |  |  |  | -1 252.96 | 0.00 |
| EUR/HKD 0.6 million ................................  |  |  |  |  |  | -1 137.61 | 0.00 |
| EUR/JPY 38.3 million................................  |  |  |  |  |  | -2 678.18 | 0.00 |
| EUR/KRW 134.1 million..............................  |  |  |  |  |  | -544.51 | 0.00 |
| EUR/NOK 1.9 million ................................  |  |  |  |  |  | -1 070.09 | 0.00 |
| EUR/SEK 1.1 million.................................  |  |  |  |  |  | 380.14 | 0.00 |
| EUR/SGD 0.1 million ................................  |  |  |  |  |  | -789.74 | 0.00 |
| EUR/TWD 3.5 million................................  |  |  |  |  |  | -802.28 | 0.00 |
| USD/CAD 2.2 million ................................  |  |  |  |  |  | -822.39 | 0.00 |
| USD/DKK 5.3 million ................................  |  |  |  |  |  | 11 241.09 | 0.00 |
| USD/GBP 0.7 million ................................  |  |  |  |  |  | 7 762.11 | 0.00 |
| USD/HKD 2.5 million ................................  |  |  |  |  |  | 113.05 | 0.00 |
| USD/JPY 156.8 million...............................  |  |  |  |  |  | 6 540.37 | 0.00 |
| USD/KRW 549.3 million .............................  |  |  |  |  |  | 4 544.17 | 0.00 |
| USD/NOK 7.8 million ................................  |  |  |  |  |  | 7 430.88 | 0.00 |
| USD/SEK 4.3 million ................................  |  |  |  |  |  | 8 027.62 | 0.00 |
| USD/SGD 0.5 million ................................  |  |  |  |  |  | 1 978.26 | 0.00 |
| USD/TWD 14.1 million...............................  |  |  |  |  |  | 3 892.28 | 0.00 |
| Closed positions EUR/CHF 0.2 million ................................  |  |  |  |  |  | -30.11 | 0.00 |
| Cash at bank |  |  |  |  |  | 240 060 083.26 | 8.93 |
| Demand deposits at Depositary EUR deposits......................................  | EUR |  |  |  |  | 706 122.09 | 0.03 |
| Deposits in other EU/EEA currencies |  |  |  |  |  |  |  |
| Danish krone ......................................  | DKK | 488 260 |  |  |  | 65 637.90 | 0.00 |
| Norwegian krone ...................................  | NOK | 1 378 884 |  |  |  | 133 502.50 | 0.01 |
| Swedish krona .....................................  | SEK | 147 480 |  |  |  | 13 769.66 | 0.00 |

| Count/ Security name	units/ | Quantity/ principal | Purchases/ additions | Sales/ disposals | Currency | Market price | Total market value in | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  | currency | amount | in the reporting period | EUR |  |
| Deposits in non-EU/EEA currencies |  |  |  |  |  |
| British pound .....................................  | GBP | 116 008 |  | 135 454.89 | 0.00 |
| Hong Kong dollar ..................................  | HKD | 109 930 |  | 13 451.33 | 0.00 |
| Japanese yen......................................  | JPY | 63 221 495 |  | 446 598.71 | 0.02 |
| Canadian dollar ....................................  | CAD | 342 358 |  | 254 915.73 | 0.01 |
| New Taiwan dollar ..................................  | TWD | 78 529 999 |  | 2 535 768.76 | 0.09 |
| Swiss franc .......................................  | CHF | 619 571 |  | 622 396.06 | 0.02 |
| Singapore dollar ...................................  | SGD | 203 017 |  | 139 942.00 | 0.01 |
| South Korean won ..................................  | KRW | 3 631 771 339 |  | 2 685 530.43 | 0.10 |
| U.S. dollar ........................................  | USD | 241 959 231 |  | 232 306 993.20 | 8.64 |
| Other assets |  |  |  | 5 043 529.31 | 0.18 |
| Dividends/Distributions receivable .....................  |  |  |  | 4 644 690.26 | 0.17 |
| Prepaid placement fee * .............................  |  |  |  | 385 282.15 | 0.01 |
| Other receivables ..................................  |  |  |  | 13 556.90 | 0.00 |
| Receivables from share certificate transactions |  |  |  | 4 273 594.36 | 0.16 |
| Total assets ** |  |  |  | 2 696 911 447.84 | 100.29 |
| Other liabilities |  |  |  | -5 911 140.35 | -0.22 |
| Liabilities from cost items ............................  |  |  |  | -5 911 140.35 | -0.22 |
| Liabilities from share certificate transactions |  |  |  | -2 006 137.15 | -0.07 |
| Total liabilities |  |  |  | -7 933 081.52 | -0.29 |
| Net assets |  |  |  | 2 688 978 366.32 | 100.00 |

Negligible rounding errors may have arisen due to the rounding of calculated percentages.
A list of the transactions completed during the reporting period that no longer appear in the investment portfolio is available free of charge from the Management Company upon request.
| Net asset value per share and number of shares outstanding | Count/ currency | Net asset value per share in the respective currency |
| --- | --- | --- |
| Net asset value per share |  |  |
| Class CHF LCH (P) .................................  | CHF | 113.63 |
| Class CHF LDH (P) .................................  | CHF | 110.93 |
| Class CHF TFCH (P) .................................  | CHF | 93.27 |
| Class FC .........................................  | EUR | 149.90 |
| Class FD .........................................  | EUR | 135.49 |
| Class IC ..........................................  | EUR | 123.78 |
| Class IC250 .......................................  | EUR | 95.50 |
| Class ID ..........................................  | EUR | 117.84 |
| Class ID100 .......................................  | EUR | 127.39 |
| Class LC .........................................  | EUR | 144.27 |
| Class LCH (P)......................................  | EUR | 123.50 |
| Class LD .........................................  | EUR | 130.29 |
| Class NC .........................................  | EUR | 138.70 |
| Class NCH (P) .....................................  | EUR | 125.55 |
| Class ND .........................................  | EUR | 106.32 |
| Class PFC ........................................  | EUR | 142.44 |
| Class PFCH (P) ....................................  | EUR | 127.81 |
| Class PFD ........................................  | EUR | 105.07 |
| Class TFC.........................................  | EUR | 152.67 |
| Class TFCH (P) .....................................  | EUR | 122.44 |
| Class TFD.........................................  | EUR | 140.17 |
| Class WFD ........................................  | EUR | 135.56 |
| Class XC .........................................  | EUR | 153.16 |
| Class XD .........................................  | EUR | 138.48 |
| Class GBP D RD ...................................  | GBP | 131.02 |
| Class USD FCH (P) .................................  | USD | 133.95 |
| Class USD IC ......................................  | USD | 119.10 |
| Class USD LCH (P) .................................  | USD | 130.61 |

| Net asset value per share and number of shares outstanding | Count/ currency | Net asset value per share in the respective currency |
| --- | --- | --- |
| Number of shares outstanding |  |  |
| Class CHF LCH (P) .................................  | Count | 55 091.781 |
| Class CHF LDH (P) .................................  | Count | 15 502.647 |
| Class CHF TFCH (P) .................................  | Count | 26 109.000 |
| Class FC .........................................  | Count | 328 810.660 |
| Class FD .........................................  | Count | 1 469 780.735 |
| Class IC ..........................................  | Count | 984 609.000 |
| Class IC250 .......................................  | Count | 512 757.000 |
| Class ID ..........................................  | Count | 100.000 |
| Class ID100 .......................................  | Count | 359 278.000 |
| Class LC .........................................  | Count | 1 476 124.644 |
| Class LCH (P)......................................  | Count | 28 543.994 |
| Class LD .........................................  | Count | 11 443 544.386 |
| Class NC .........................................  | Count | 220 324.000 |
| Class NCH (P) .....................................  | Count | 3 188.000 |
| Class ND .........................................  | Count | 25 261.000 |
| Class PFC ........................................  | Count | 165 919.000 |
| Class PFCH (P) ....................................  | Count | 100.000 |
| Class PFD ........................................  | Count | 191 408.000 |
| Class TFC.........................................  | Count | 1 374 063.505 |
| Class TFCH (P) .....................................  | Count | 17 824.215 |
| Class TFD.........................................  | Count | 391 416.143 |
| Class WFD ........................................  | Count | 100.000 |
| Class XC .........................................  | Count | 24 950.702 |
| Class XD .........................................  | Count | 736 139.385 |
| Class GBP D RD ...................................  | Count | 4 712.828 |
| Class USD FCH (P) .................................  | Count | 58 006.252 |
| Class USD IC ......................................  | Count | 261 723.000 |
| Class USD LCH (P) .................................  | Count | 142 902.427 |

Composition of the reference portfolio (according to CSSF circular 11/512) MSCI World High Dividend Yield
Market risk exposure (value-at-risk) (according to CSSF circular 11/512)
| Lowest market risk exposure .........................  | % | 84.172 |
| --- | --- | --- |
| Highest market risk exposure .........................  | % | 106.948 |
| Average market risk exposure ........................  | % | 98.6423 |

The values-at-risk were calculated for the period from January 1, 2022, through June 30, 2022, using historical simulation with a 99% confidence level, a 10-day holding period and an effective historical observation period of one year. The risk in a reference portfolio that does not contain derivatives is used as the measurement benchmark. Market risk is the risk to the fund’s assets arising from an unfavorable change in market prices. The Company determines the potential market risk by means of the relative value-at-risk approachas defined in CSSF circular 11/512.
In the reporting period, the average leverage effect from the use of derivatives was 0.0, whereby the total of the nominal amounts of the derivatives in relation to the fund’s assets was used for the calculation (sum-of-notional approach).
The gross exposure generated via derivatives pursuant to point 40 a) of the “Guidelines on ETFs and other UCITS issues” of the European Securities and Markets Authority (ESMA) totaled EUR 0.00 as of the reporting date.
 Market abbreviations	 Contracting parties for forward currency transactions
BNP Paribas S.A., Deutsche Bank AG, HSBC France, Morgan Stanley Europe SE, Royal Bank of Canada (UK), State Street Bank International GmbH and UBS AG.
 Exchange rates (indirect quotes)	
As of June 30, 2022
| Canadian dollar ................. . | CAD | 1.343026 | = | EUR | 1 |
| --- | --- | --- | --- | --- | --- |
| Swiss franc .................... . | CHF | 0.995461 | = | EUR | 1 |
| Danish krone ................... . | DKK | 7.438694 | = | EUR | 1 |
| British pound .................. . | GBP | 0.856432 | = | EUR | 1 |
| Hong Kong dollar ............... . | HKD | 8.172414 | = | EUR | 1 |
| Japanese yen .................. . | JPY | 141.562199 | = | EUR | 1 |
| South Korean won............... . | KRW | 1 352.347861 | = | EUR | 1 |
| Norwegian krone ................ . | NOK | 10.328526 | = | EUR | 1 |
| Swedish krona.................. . | SEK | 10.710462 | = | EUR | 1 |
| Singapore dollar ................ . | SGD | 1.450722 | = | EUR | 1 |
| New Taiwan dollar............... . | TWD | 30.968912 | = | EUR | 1 |
| U.S. dollar ..................... . | USD | 1.041549 | = | EUR | 1 |

 Notes on valuation	
Under the responsibility of the Board of Directors of the SICAV, the Management Company determines the net asset values per share and performs the valuation of the assets of the fund. The basic provision of price data and price validation are performed in accordance with the method introduced by the Board of Directors of the SICAV on the basis of the legal and regulatory requirements or the principles for valuation methods defined in the SICAV’s prospectus.
If no trading prices are available, prices are determined with the aid of valuation models (derived market values) which are agreed between State Street Bank International GmbH, Luxembourg Branch, as external price service provider and the Management Company and which are based as far as possible on market parameters. This procedure is subject to an ongoing monitoring process. The plausibility of price information from third parties is checked through other pricing sources, model calculations or other suitable procedure.
Assets reported in this report are not valued at derived market values.
 Footnotes	
* The prepaid placement fee is amortized over a period of three years (as specified in article 12 (d) of the general section of the fund’s management regulations).
** Does not include positions with a negative balance, if such exist.

Translation (ENDE, 2022-06-30):
# DWS Invest ESG Equity Income
DWS INVEST ESG EQUITY INCOME

### Wertentwicklung der Anteilklassen (in EUR)
| Anteilklasse | ISIN | 6 Monate |
| --- | --- | --- |
| Klasse LC | LU1616932866 | -6,8% |
| Klasse FC | LU1616932601 | -6,5% |
| Klasse FD | LU1616932783 | -6,5% |
| Klasse IC | LU2052962128 | -6,4% |
| Klasse IC250 | LU2425458937 | -4,5% |
| Klasse ID | LU2052963100 | -6,3% |
| Klasse ID100 | LU2241091565 | -6,2% |
| Klasse LCH (P) | LU1729940673 | -11,2% |
| Klasse LD | LU1616932940 | -6,8% |
| Klasse NC | LU1729948221 | -7,1% |
| Klasse NCH (P) | LU1747711205 | -11,4% |
| Klasse ND | LU2066748653 | -7,1% |
| Klasse PFC | LU1747711387 | -7,4% |
| Klasse PFCH (P) | LU1747711460 | -11,2% |
| Klasse PFD | LU2066748737 | -7,4% |
| Klasse TFC | LU1747711031 | -6,5% |
| Klasse TFCH (P) | LU1982201086 | -10,8% |
| Klasse TFD | LU1747711114 | -6,5% |
| Klasse WFD | LU1805361166 | -6,5% |
| Klasse XC | LU1616933088 | -6,3% |
| Klasse XD | LU1616933161 | -6,3% |
| Klasse CHF LCH (P) 1) | LU2229437525 | -11,2% |
| Klasse CHF LDH (P) 1) | LU2229437798 | -11,3% |
| Klasse CHF TFCH (P) 1) | LU2367179251 | -10,8% |
| Klasse GBP D RD 2) | LU1820750781 | -4,5% |
| Klasse USD FCH (P) 3) | LU1932912873 | -10,1% |
| Klasse USD IC 3) | LU2022030352 | -14,0% |
| Klasse USD LCH (P) 3) | LU1932913178 | -10,4% |

1) 
in CHF
2) 
in GBP
3) 
in USD
Wertentwicklung nach BVI-Methode, d. h. ohne Berücksichtigung des Ausgabeaufschlages.
Wertentwicklungen der Vergangenheit ermöglichen keine Prognose für die Zukunft.	Stand: 30.6.2022
DWS Invest ESG Equity Income
| Vermögensübersicht zum 30.6.2022 |  |
| --- | --- |
|  | Bestand in EUR | %-Anteil am Fondsvermögen |
| I. Vermögensgegenstände |  |  |
| 1. Aktien (Branchen) Informationstechnologie | 221 000 160,14 | 8,21 |
| Telekommunikationsdienste | 343 717 926,90 | 12,79 |
| Dauerhafte Konsumgüter | 697 261 054,56 | 25,94 |
| Energie | 120 235 082,25 | 4,47 |
| Hauptverbrauchsgüter | 99 626 162,76 | 3,70 |
| Finanzsektor | 343 962 660,68 | 12,78 |
| Grundstoffe | 237 892 002,48 | 8,86 |
| Industrien | 194 591 400,75 | 7,23 |
| Versorger | 189 103 382,73 | 7,04 |
| Summe Aktien | 2 447 389 833,25 | 91,02 |
| 2. Derivate | 128 603,64 | 0,00 |
| 3. Bankguthaben | 240 060 083,26 | 8,93 |
| 4. Sonstige Vermögensgegenstände | 5 043 529,31 | 0,18 |
| 5. Forderungen aus Anteilscheingeschäften | 4 273 594,36 | 0,16 |
| II. Verbindlichkeiten |  |  |
| 1. Sonstige Verbindlichkeiten | -5 911 140,35 | -0,22 |
| 2. Verbindlichkeiten aus Anteilscheingeschäften | -2 006 137,15 | -0,07 |
|  |  |  |
| III. Fondsvermögen | 2 688 978 366,32 | 100,00 |

Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein.
| Vermögensaufstellung zum 30.6.2022 |  |
| --- | --- |
|  | Stück bzw. | Nominalbetrag | Käufe/ | Verkäufe/ | Währung | Kurs | Kurswert | %-Anteil am |
| Wertpapierbezeichnung | Anteile bzw. | bzw. | Zugänge | Abgänge |  |  | in | Fonds- |
| Währung	Bestand	im Berichtszeitraum	EUR	vermögen |
| Börsengehandelte Wertpapiere |  |  |  |  |  |  | 2 447 389 833,25 | 91,02 |
| Aktien BCE, Inc.  .......................................  | Stück | 1 158 061 | 278 921 |  | CAD | 62,87 | 54 211 381,95 | 2,02 |
| Canadian National Railway Co. .......................  | Stück | 297 698 | 40 578 |  | CAD | 142,23 | 31 527 004,51 | 1,17 |
| Pembina Pipeline Corp.  ............................  | Stück | 1 450 000 | 566 855 |  | CAD | 45,05 | 48 638 299,14 | 1,81 |
| Toronto-Dominion Bank ............................  | Stück | 636 689 | 120 142 |  | CAD | 82,88 | 39 290 962,79 | 1,46 |
| Geberit AG  ......................................  | Stück | 27 692 | 9 753 |  | CHF | 454 | 12 629 494,20 | 0,47 |
| Novartis AG  .....................................  | Stück | 459 579 | 175 448 |  | CHF | 80,33 | 37 086 318,58 | 1,38 |
| Roche Holding AG  ................................  | Stück | 105 000 | 30 214 |  | CHF | 316 | 33 331 293,17 | 1,24 |
| SGS SA .........................................  | Stück | 8 022 | 3 598 |  | CHF | 2 168 | 17 470 998,14 | 0,65 |
| Novo Nordisk A/S .................................  | Stück | 223 844 |  |  | DKK | 783,3 | 23 570 938,10 | 0,88 |
| Orsted AS .......................................  | Stück | 532 569 | 206 440 |  | DKK | 733,3 | 52 500 187,11 | 1,95 |
| Allianz SE  .......................................  | Stück | 123 021 | 13 460 |  | EUR | 180,38 | 22 190 527,98 | 0,82 |
| AXA SA .........................................  | Stück | 596 672 | 113 752 |  | EUR | 21,42 | 12 780 714,24 | 0,48 |
| Capgemini SE ....................................  | Stück | 175 000 | 37 796 |  | EUR | 163,95 | 28 691 250,00 | 1,07 |
| Cie de Saint-Gobain  ...............................  | Stück | 281 887 | 37 240 |  | EUR | 40,11 | 11 306 487,57 | 0,42 |
| Deutsche Boerse AG  ..............................  | Stück | 109 483 | 42 992 | 52 858 | EUR | 158,95 | 17 402 322,85 | 0,65 |
| Deutsche Post AG  ................................  | Stück | 470 000 | 50 340 |  | EUR | 35,225 | 16 555 750,00 | 0,62 |
| Deutsche Telekom AG  .............................  | Stück | 1 346 172 | 1 346 172 |  | EUR | 18,896 | 25 437 266,11 | 0,95 |
| E.ON SE  ........................................  | Stück | 1 862 463 | 208 657 |  | EUR | 7,926 | 14 761 881,74 | 0,55 |
| Enel SpA ........................................  | Stück | 3 750 000 | 614 810 |  | EUR | 5,215 | 19 556 250,00 | 0,73 |
| Evonik Industries AG  ..............................  | Stück | 680 242 | 362 103 | 448 823 | EUR | 20,02 | 13 618 444,84 | 0,51 |
| Hannover Rueck SE  ...............................  | Stück | 226 763 | 113 617 |  | EUR | 136,7 | 30 998 502,10 | 1,15 |
| Koninklijke Ahold Delhaize NV  .......................  | Stück | 1 821 671 | 871 483 |  | EUR | 24,68 | 44 958 840,28 | 1,67 |
| Koninklijke Philips NV ..............................  | Stück | 834 283 | 234 283 |  | EUR | 20,215 | 16 865 030,85 | 0,63 |
| Neste Oyj  .......................................  | Stück | 542 330 | 347 893 |  | EUR | 41,82 | 22 680 240,60 | 0,84 |
| Sampo Oyj -A-  ...................................  | Stück | 532 948 |  |  | EUR | 41,4 | 22 064 047,20 | 0,82 |
| Sanofi ..........................................  | Stück | 326 672 | 388 344 | 326 672 | EUR | 96,5 | 31 523 848,00 | 1,17 |
| SAP SE  .........................................  | Stück | 135 000 | 48 886 |  | EUR | 85,45 | 11 535 750,00 | 0,43 |
| Schneider Electric SE  ..............................  | Stück | 160 087 | 118 379 | 23 930 | EUR | 111,34 | 17 824 086,58 | 0,66 |
| Smurfit Kappa Group PLC  ..........................  | Stück | 440 000 | 440 000 |  | EUR | 31,54 | 13 877 600,00 | 0,52 |
| Talanx AG .......................................  | Stück | 420 657 |  |  | EUR | 35,96 | 15 126 825,72 | 0,56 |
| Unilever PLC  ....................................  | Stück | 820 000 | 35 878 |  | EUR | 43,195 | 35 419 900,00 | 1,32 |
| UPM-Kymmene Oyj  ...............................  | Stück | 500 000 | 500 000 |  | EUR | 28,86 | 14 430 000,00 | 0,54 |
| Wolters Kluwer NV  ...............................  | Stück | 157 351 |  |  | EUR | 92,3 | 14 523 497,30 | 0,54 |
| Croda International PLC  ............................  | Stück | 118 805 |  |  | GBP | 63,62 | 8 825 424,64 | 0,33 |
| HSBC Holdings PLC  ...............................  | Stück | 2 500 000 | 1 670 235 | 1 585 759 | GBP | 5,287 | 15 433 219,98 | 0,57 |
| National Grid PLC .................................  | Stück | 3 644 058 | 644 058 |  | GBP | 10,593 | 45 070 355,22 | 1,68 |
| Pearson PLC .....................................  | Stück | 1 858 461 | 439 305 |  | GBP | 7,436 | 16 136 155,13 | 0,60 |
| Hong Kong Exchanges & Clearing Ltd .................  | Stück | 280 000 | 37 700 |  | HKD | 386 | 13 224 978,67 | 0,49 |
| Ping An Insurance Group Co. of China Ltd  .............  | Stück | 3 000 000 | 700 000 |  | HKD | 53,35 | 19 584 176,87 | 0,73 |
| Bridgestone Corp.  ................................  | Stück | 713 700 | 371 800 |  | JPY | 4 950 | 24 955 920,57 | 0,93 |
| FANUC Corp.  ....................................  | Stück | 94 100 | 12 800 |  | JPY | 21 240 | 14 118 769,07 | 0,52 |
| Nippon Telegraph & Telephone Corp.  .................  | Stück | 1 948 300 | 368 700 |  | JPY | 3 896 | 53 620 082,48 | 1,99 |
| Tokio Marine Holdings, Inc.  .........................  | Stück | 428 800 |  | 85 400 | JPY | 7 903 | 23 938 639,11 | 0,89 |
| Samsung Electronics Co., Ltd  .......................  | Stück | 312 385 | 312 385 |  | KRW | 57 000 | 13 166 689,96 | 0,49 |
| SK Telecom Co., Ltd  ..............................  | Stück | 674 802 | 388 802 |  | KRW | 52 000 | 25 947 247,02 | 0,96 |
| DNB Bank ASA  ..................................  | Stück | 1 594 044 | 112 178 |  | NOK | 175,9 | 27 147 373,41 | 1,01 |
| Gjensidige Forsikring ASA  ..........................  | Stück | 252 387 |  | 244 643 | NOK | 199,7 | 4 879 852,76 | 0,18 |
| Norsk Hydro ASA  .................................  | Stück | 3 389 783 | 3 389 783 |  | NOK | 54,7 | 17 952 333,02 | 0,67 |
| Telenor ASA  .....................................  | Stück | 2 256 521 |  |  | NOK | 131,15 | 28 652 950,31 | 1,07 |
| Boliden AB  ......................................  | Stück | 792 409 | 792 409 |  | SEK | 325,4 | 24 074 581,92 | 0,90 |
| Swedbank AB ....................................  | Stück | 1 540 203 | 681 972 |  | SEK | 128,9 | 18 536 284,57 | 0,69 |
| DBS Group Holdings Ltd  ...........................  | Stück | 1 700 000 | 485 000 |  | SGD | 29,68 | 34 779 918,34 | 1,29 |
| Taiwan Semiconductor Manufacturing Co., Ltd . . . . . . . . . . | Stück | 2 933 000 | 128 000 |  | TWD | 476 | 45 080 951,10 | 1,68 |
| AbbVie, Inc.  .....................................  | Stück | 256 742 | 124 597 |  | USD | 152,29 | 37 539 492,34 | 1,40 |
| Accenture PLC  ...................................  | Stück | 66 244 | 8 120 |  | USD | 276,21 | 17 567 341,14 | 0,65 |
| Amgen, Inc.  .....................................  | Stück | 128 036 | 24 712 |  | USD | 241,94 | 29 741 294,18 | 1,11 |
| AT&T, Inc.  ......................................  | Stück | 1 747 254 | 1 747 254 |  | USD | 20,885 | 35 035 684,88 | 1,30 |
| Automatic Data Processing, Inc.  .....................  | Stück | 76 171 | 17 636 | 82 970 | USD | 210,35 | 15 383 397,50 | 0,57 |
| Baker Hughes Co.  ................................  | Stück | 1 700 000 | 574 362 |  | USD | 29,97 | 48 916 542,51 | 1,82 |
| Bristol-Myers Squibb Co.  ...........................  | Stück | 568 792 | 568 792 |  | USD | 76,9 | 41 995 224,55 | 1,56 |
| Colgate-Palmolive Co.  .............................  | Stück | 370 000 | 64 504 |  | USD | 79,54 | 28 255 786,43 | 1,05 |
| Corning, Inc. .....................................  | Stück | 506 082 | 49 574 |  | USD | 31,47 | 15 291 064,57 | 0,57 |
| Eversource Energy  ................................  | Stück | 711 206 | 213 701 |  | USD | 83,79 | 57 214 708,66 | 2,13 |
| Fidelity National Information Services, Inc.  .............  | Stück | 304 095 | 304 095 |  | USD | 90,66 | 26 469 460,08 | 0,98 |
| Gilead Sciences, Inc.  ..............................  | Stück | 507 028 | 253 969 |  | USD | 61,63 | 30 001 585,02 | 1,12 |
| Hasbro, Inc.  .....................................  | Stück | 313 105 | 174 060 | 71 687 | USD | 81,84 | 24 602 300,13 | 0,91 |
| International Flavors & Fragrances, Inc. ................  | Stück | 214 181 | 99 181 |  | USD | 116,48 | 23 952 585,14 | 0,89 |
| Johnson Controls International Plc  ...................  | Stück | 615 256 | 296 751 |  | USD | 47,78 | 28 224 229,29 | 1,05 |
| Medtronic PLC  ...................................  | Stück | 475 000 | 150 524 |  | USD | 89,51 | 40 821 151,88 | 1,52 |
| Merck & Co, Inc.  .................................  | Stück | 678 854 | 197 929 |  | USD | 92,29 | 60 152 144,61 | 2,24 |
| Microsoft Corp.  ..................................  | Stück | 91 395 |  | 23 314 | USD | 255,12 | 22 386 542,91 | 0,83 |
| Mondelez International, Inc. .........................  | Stück | 457 460 | 95 648 |  | USD | 61,97 | 27 217 906,03 | 1,01 |
| Motorola Solutions, Inc.  ............................  | Stück | 179 373 | 88 508 |  | USD | 207,3 | 35 700 677,87 | 1,33 |
| Newmont Corp.  ..................................  | Stück | 691 043 | 41 842 |  | USD | 61,11 | 40 545 013,04 | 1,51 |
| Nutrien Ltd  ......................................  | Stück | 521 187 | 521 187 |  | USD | 80,3 | 40 181 783,41 | 1,49 |
| PepsiCo, Inc.  ....................................  | Stück | 272 540 |  |  | USD | 167,02 | 43 703 761,70 | 1,62 |

| Stück bzw. Wertpapierbezeichnung	Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Währung | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Währung | Bestand | im Berichtszeitraum | EUR | vermögen |
| Pfizer, Inc.  ......................................  | Stück | 782 366 | 51 125 | USD | 51,5 | 38 684 526,57 | 1,44 |
| Procter & Gamble Co.  .............................  | Stück | 465 908 | 112 044 | USD | 142,04 | 63 537 616,63 | 2,36 |
| QUALCOMM, Inc.  ................................  | Stück | 300 527 | 55 626 | USD | 126,16 | 36 402 001,64 | 1,35 |
| State Street Corp.  ................................  | Stück | 455 709 | 167 770 | USD | 60,76 | 26 584 314,09 | 0,99 |
| TE Connectivity Ltd  ...............................  | Stück | 288 096 | 38 880 | USD | 110,55 | 30 578 491,99 | 1,14 |
| Texas Instruments, Inc. ............................  | Stück | 135 437 | 12 226 | USD | 151,5 | 19 700 173,31 | 0,73 |
| Union Pacific Corp. ................................  | Stück | 157 682 |  | USD | 210,23 | 31 827 087,54 | 1,18 |
| Verizon Communications, Inc.  .......................  | Stück | 804 677 | 804 677 | USD | 50,69 | 39 161 919,28 | 1,46 |
| VF Corp.  ........................................  | Stück | 357 526 | 136 891 | USD | 43,44 | 14 911 369,61 | 0,55 |
| Wheaton Precious Metals Corp.  .....................  | Stück | 1 149 093 | 1 149 093 | USD | 36,65 | 40 434 236,47 | 1,50 |
| WW Grainger, Inc.  ................................  | Stück | 81 231 | 27 370 | USD | 450,78 | 35 156 572,45 | 1,31 |
| Summe Wertpapiervermögen |  |  |  |  |  | 2 447 389 833,25 | 91,02 |

Derivate
(Bei den mit Minus gekennzeichneten Beständen handelt es sich um verkaufte Positionen)
| Devisen-Derivate Forderungen/Verbindlichkeiten |  |  | 128 603,64 | 0,00 |
| --- | --- | --- | --- | --- |
| Devisentermingeschäfte |  |  |  |  |
| Devisentermingeschäfte (Kauf) |  |  |  |  |
| Offene Positionen CHF/EUR 1,7 Mio. .................................  |  |  | 30 498,45 | 0,00 |
| CHF/GBP 0,3 Mio. .................................  |  |  | 4 117,45 | 0,00 |
| CHF/JPY 0,5 Mio. ..................................  |  |  | 3 862,36 | 0,00 |
| CHF/USD 4,4 Mio. .................................  |  |  | 11 666,36 | 0,00 |
| USD/EUR 1,5 Mio. .................................  |  |  | 22 093,45 | 0,00 |
| Geschlossene Positionen CHF/USD 1,0 Mio. .................................  |  |  | -135,93 | 0,00 |
| USD/EUR 3,3 Mio. .................................  |  |  | 67,03 | 0,00 |
| Devisentermingeschäfte (Verkauf) |  |  |  |  |
| Offene Positionen CHF/CAD 0,9 Mio. .................................  |  |  | 1 447,05 | 0,00 |
| CHF/DKK 2,2 Mio. .................................  |  |  | 5 382,16 | 0,00 |
| CHF/HKD 1,0 Mio. .................................  |  |  | 348,33 | 0,00 |
| CHF/KRW 226,2 Mio. ...............................  |  |  | 2 245,44 | 0,00 |
| CHF/NOK 3,2 Mio. .................................  |  |  | 3 874,47 | 0,00 |
| CHF/SEK 1,8 Mio. .................................  |  |  | 3 757,23 | 0,00 |
| CHF/SGD 0,2 Mio. .................................  |  |  | 1 171,55 | 0,00 |
| CHF/TWD 5,8 Mio. .................................  |  |  | 1 966,36 | 0,00 |
| EUR/CAD 0,5 Mio. .................................  |  |  | -6 494,21 | 0,00 |
| EUR/DKK 1,3 Mio. .................................  |  |  | -46,01 | 0,00 |
| EUR/GBP 0,2 Mio. .................................  |  |  | -1 252,96 | 0,00 |
| EUR/HKD 0,6 Mio. .................................  |  |  | -1 137,61 | 0,00 |
| EUR/JPY 38,3 Mio. .................................  |  |  | -2 678,18 | 0,00 |
| EUR/KRW 134,1 Mio. ...............................  |  |  | -544,51 | 0,00 |
| EUR/NOK 1,9 Mio. .................................  |  |  | -1 070,09 | 0,00 |
| EUR/SEK 1,1 Mio. .................................  |  |  | 380,14 | 0,00 |
| EUR/SGD 0,1 Mio. .................................  |  |  | -789,74 | 0,00 |
| EUR/TWD 3,5 Mio. .................................  |  |  | -802,28 | 0,00 |
| USD/CAD 2,2 Mio. .................................  |  |  | -822,39 | 0,00 |
| USD/DKK 5,3 Mio. .................................  |  |  | 11 241,09 | 0,00 |
| USD/GBP 0,7 Mio. .................................  |  |  | 7 762,11 | 0,00 |
| USD/HKD 2,5 Mio. .................................  |  |  | 113,05 | 0,00 |
| USD/JPY 156,8 Mio. ...............................  |  |  | 6 540,37 | 0,00 |
| USD/KRW 549,3 Mio. ..............................  |  |  | 4 544,17 | 0,00 |
| USD/NOK 7,8 Mio. .................................  |  |  | 7 430,88 | 0,00 |
| USD/SEK 4,3 Mio. .................................  |  |  | 8 027,62 | 0,00 |
| USD/SGD 0,5 Mio. .................................  |  |  | 1 978,26 | 0,00 |
| USD/TWD 14,1 Mio. ...............................  |  |  | 3 892,28 | 0,00 |
| Geschlossene Positionen EUR/CHF 0,2 Mio. .................................  |  |  | -30,11 | 0,00 |
| Bankguthaben |  |  | 240 060 083,26 | 8,93 |
| Verwahrstelle (täglich fällig) EUR-Guthaben ....................................  | EUR |  | 706 122,09 | 0,03 |
| Guthaben in sonstigen EU/EWR-Währungen |  |  |  |  |
| Dänische Kronen ..................................  | DKK | 488 260 | 65 637,90 | 0,00 |
| Norwegische Kronen ...............................  | NOK | 1 378 884 | 133 502,50 | 0,01 |
| Schwedische Kronen ...............................  | SEK | 147 480 | 13 769,66 | 0,00 |

| Wertpapierbezeichnung | Stück bzw. Anteile bzw | Nominalbetrag .	bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Währung | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  | Währung | Bestand | im Berichtszeitraum | EUR | vermögen |
| Guthaben in Nicht-EU/EWR-Währungen |  |  |  |  |  |
| Britisches Pfund ...................................  | GBP | 116 008 |  | 135 454,89 | 0,00 |
| Hongkong Dollar ...................................  | HKD | 109 930 |  | 13 451,33 | 0,00 |
| Japanischer Yen ...................................  | JPY | 63 221 495 |  | 446 598,71 | 0,02 |
| Kanadischer Dollar .................................  | CAD | 342 358 |  | 254 915,73 | 0,01 |
| Neue Taiwan Dollar ................................  | TWD | 78 529 999 |  | 2 535 768,76 | 0,09 |
| Schweizer Franken .................................  | CHF | 619 571 |  | 622 396,06 | 0,02 |
| Singapur Dollar ....................................  | SGD | 203 017 |  | 139 942,00 | 0,01 |
| Südkoreanischer Won ..............................  | KRW  3 631 771 339 |  | 2 685 530,43 | 0,10 |
| US-Dollar ........................................  | USD | 241 959 231 |  | 232 306 993,20 | 8,64 |
| Sonstige Vermögensgegenstände |  |  |  | 5 043 529,31 | 0,18 |
| Dividenden- / Ausschüttungsansprüche .................  |  |  |  | 4 644 690,26 | 0,17 |
| Abgegrenzte Platzierungsgebühr * ....................  |  |  |  | 385 282,15 | 0,01 |
| Sonstige Ansprüche ................................  |  |  |  | 13 556,90 | 0,00 |
| Forderungen aus Anteilscheingeschäften |  |  |  | 4 273 594,36 | 0,16 |
| Summe der Vermögensgegenstände ** |  |  |  | 2 696 911 447,84 | 100,29 |
| Sonstige Verbindlichkeiten |  |  |  | -5 911 140,35 | -0,22 |
| Verbindlichkeiten aus Kostenpositionen ................  |  |  |  | -5 911 140,35 | -0,22 |
| Verbindlichkeiten aus Anteilscheingeschäften |  |  |  | -2 006 137,15 | -0,07 |
| Summe der Verbindlichkeiten |  |  |  | -7 933 081,52 | -0,29 |
| Fondsvermögen |  |  |  | 2 688 978 366,32 | 100,00 |

Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein.
Eine Aufstellung über die während des Berichtszeitraums abgeschlossenen Geschäfte, soweit sie nicht mehr in der Vermögensaufstellung erscheinen, ist auf Anforderung kostenlos bei der Verwaltungsgesellschaft erhältlich.
| Anteilwert bzw. umlaufende Anteile | Stück bzw. Währung | Anteilwert in der jeweiligen Währung |
| --- | --- | --- |
| Anteilwert |  |  |
| Klasse CHF LCH (P) ................................  | CHF | 113,63 |
| Klasse CHF LDH (P) ................................  | CHF | 110,93 |
| Klasse CHF TFCH (P) ...............................  | CHF | 93,27 |
| Klasse FC ........................................  | EUR | 149,90 |
| Klasse FD ........................................  | EUR | 135,49 |
| Klasse IC .........................................  | EUR | 123,78 |
| Klasse IC250 ......................................  | EUR | 95,50 |
| Klasse ID ........................................  | EUR | 117,84 |
| Klasse ID100 .....................................  | EUR | 127,39 |
| Klasse LC ........................................  | EUR | 144,27 |
| Klasse LCH (P) ....................................  | EUR | 123,50 |
| Klasse LD ........................................  | EUR | 130,29 |
| Klasse NC ........................................  | EUR | 138,70 |
| Klasse NCH (P) ....................................  | EUR | 125,55 |
| Klasse ND ........................................  | EUR | 106,32 |
| Klasse PFC .......................................  | EUR | 142,44 |
| Klasse PFCH (P) ...................................  | EUR | 127,81 |
| Klasse PFD .......................................  | EUR | 105,07 |
| Klasse TFC .......................................  | EUR | 152,67 |
| Klasse TFCH (P) ...................................  | EUR | 122,44 |
| Klasse TFD .......................................  | EUR | 140,17 |
| Klasse WFD ......................................  | EUR | 135,56 |
| Klasse XC ........................................  | EUR | 153,16 |
| Klasse XD ........................................  | EUR | 138,48 |
| Klasse GBP D RD ..................................  | GBP | 131,02 |
| Klasse USD FCH (P) ................................  | USD | 133,95 |
| Klasse USD IC ....................................  | USD | 119,10 |
| Klasse USD LCH (P) ................................  | USD | 130,61 |

| Anteilwert bzw. umlaufende Anteile | Stück bzw. Währung | Anteilwert in der jeweiligen Währung |
| --- | --- | --- |
| Umlaufende Anteile |  |  |
| Klasse CHF LCH (P) ................................  | Stück | 55 091,781 |
| Klasse CHF LDH (P) ................................  | Stück | 15 502,647 |
| Klasse CHF TFCH (P) ...............................  | Stück | 26 109,000 |
| Klasse FC ........................................  | Stück | 328 810,660 |
| Klasse FD ........................................  | Stück | 1 469 780,735 |
| Klasse IC .........................................  | Stück | 984 609,000 |
| Klasse IC250 ......................................  | Stück | 512 757,000 |
| Klasse ID ........................................  | Stück | 100,000 |
| Klasse ID100 .....................................  | Stück | 359 278,000 |
| Klasse LC ........................................  | Stück | 1 476 124,644 |
| Klasse LCH (P) ....................................  | Stück | 28 543,994 |
| Klasse LD ........................................  | Stück | 11 443 544,386 |
| Klasse NC ........................................  | Stück | 220 324,000 |
| Klasse NCH (P) ....................................  | Stück | 3 188,000 |
| Klasse ND ........................................  | Stück | 25 261,000 |
| Klasse PFC .......................................  | Stück | 165 919,000 |
| Klasse PFCH (P) ...................................  | Stück | 100,000 |
| Klasse PFD .......................................  | Stück | 191 408,000 |
| Klasse TFC .......................................  | Stück | 1 374 063,505 |
| Klasse TFCH (P) ...................................  | Stück | 17 824,215 |
| Klasse TFD .......................................  | Stück | 391 416,143 |
| Klasse WFD ......................................  | Stück | 100,000 |
| Klasse XC ........................................  | Stück | 24 950,702 |
| Klasse XD ........................................  | Stück | 736 139,385 |
| Klasse GBP D RD ..................................  | Stück | 4 712,828 |
| Klasse USD FCH (P) ................................  | Stück | 58 006,252 |
| Klasse USD IC ....................................  | Stück | 261 723,000 |
| Klasse USD LCH (P) ................................  | Stück | 142 902,427 |

Zusammensetzung des Referenzportfolios (gem. CSSF-Rundschreiben 11/512) MSCI World High Dividend Yield
Potenzieller Risikobetrag für das Marktrisiko (gem. CSSF-Rundschreiben 11/512)
| kleinster potenzieller Risikobetrag .....................  | % | 84,172 |
| --- | --- | --- |
| größter potenzieller Risikobetrag  .....................  | % | 106,948 |
| durchschnittlicher potenzieller Risikobetrag . . . . . . . . . . . . . | % | 98,6423 |

Die Risikokennzahlen wurden für den Zeitraum vom 1.1.2022 bis 30.6.2022 auf Basis der Methode der historischen Simulation mit den Parametern 99% Konfidenzniveau, 10 Tage Haltedauer unter Verwendung eines effektiven, historischen Beobachtungszeitraumes von einem Jahr berechnet. Als Bewertungsmaßstab wird das Risiko eines derivatefreien Vergleichsvermögens herangezogen. Unter dem Marktrisiko versteht man das Risiko, das sich aus der ungünstigsten Entwicklung von Marktpreisen für das Fondsvermögen ergibt. Bei der Ermittlung des Marktrisikopotenzials wendet die Gesellschaft den relativen Value at Risk-Ansatzim Sinne des CSSF-Rundschreibens 11/512 an.
Die durchschnittliche Hebelwirkung aus der Nutzung von Derivaten betrug im Berichtszeitraum 0,0, wobei zur Berechnung die Summe der Nominalbeträge der Derivate in Relation zum Fondsvermögen gesetzt wurde (Nominalwertmethode).
Das durch Derivate erzielte zugrunde liegende Exposure gem. Punkt 40 a) der „Leitlinien zu börsengehandelten Indexfonds und anderen OGAW-Themen“ der European Securities and Markets Authority (ESMA) belief sich zum Berichtsstichtag unter Zugrundelegung einer Bruttobetrachtung auf EUR 0,00.
 Marktschlüssel	 Vertragspartner der Devisentermingeschäfte
BNP Paribas S.A., Deutsche Bank AG, HSBC France, Morgan Stanley Europe SE, Royal Bank of Canada (UK), State Street Bank International GmbH und UBS AG.
 Devisenkurse (in Mengennotiz)	
per 30.6.2022
| Kanadischer Dollar ...............  | CAD | 1,343026 | = | EUR | 1 |
| --- | --- | --- | --- | --- | --- |
| Schweizer Franken ...............  | CHF | 0,995461 | = | EUR | 1 |
| Dänische Kronen ................  | DKK | 7,438694 | = | EUR | 1 |
| Britisches Pfund .................  | GBP | 0,856432 | = | EUR | 1 |
| Hongkong Dollar .................  | HKD | 8,172414 | = | EUR | 1 |
| Japanischer Yen .................  | JPY | 141,562199 | = | EUR | 1 |
| Südkoreanischer Won ............  | KRW | 1 352,347861 | = | EUR | 1 |
| Norwegische Kronen .............  | NOK | 10,328526 | = | EUR | 1 |
| Schwedische Kronen .............  | SEK | 10,710462 | = | EUR | 1 |
| Singapur Dollar ..................  | SGD | 1,450722 | = | EUR | 1 |
| Neue Taiwan Dollar ..............  | TWD | 30,968912 | = | EUR | 1 |
| US-Dollar ......................  | USD | 1,041549 | = | EUR | 1 |

 Erläuterungen zur Bewertung	
Die Anteilwerte werden in Verantwortung des Verwaltungsrats der SICAV durch die Verwaltungsgesellschaft ermittelt sowie die Bewertung der Vermögenswerte des Fondsvermögens durchgeführt. Die grundsätzliche Kursversorgung sowie die Preisvalidierung erfolgen nach den vom Verwaltungsrat der SICAV auf der Grundlage der in den gesetzlichen Bestimmungen/ Verordnungen bzw. im Prospekt der SICAV definierten Grundsätze für Bewertungsmethoden eingeführten Verfahren.
Sofern keine handelbaren Kurse vorliegen, werden Bewertungsmodelle zur Preisermittlung (abgeleitete Verkehrswerte) genutzt, die zwischen State Street Bank International GmbH, Luxembourg Branch, als externem Price Service Provider und der Verwaltungsgesellschaft abgestimmt sind und sich so weit als möglich auf Marktparameter stützen. Diese Vorgehensweise unterliegt einem permanenten Kontrollprozess. Preisauskünfte Dritter werden durch andere Preisquellen, modellhafte Rechnungen oder durch andere geeignete Verfahren auf Plausibilität geprüft.
Die in diesem Bericht ausgewiesenen Vermögenswerte werden nicht zu abgeleiteten Verkehrswerten bewertet.
 Fußnoten	
* Die abgegrenzte Platzierungsgebühr wird über einen Zeitraum von drei Jahren abgeschrieben (entsprechend Artikel 12 d) des Verwaltungsreglements – Allgemeiner Teil des Fonds).
** Beinhaltet, sofern vorhanden, keine Positionen mit negativem Bestand.