# Focused SICAV – US Corporate Bond Sustainable USD
| Three-year comparison |  |
| --- | --- |
| Date | ISIN | 31.10.2021 | 31.10.2020 | 31.10.2019 |
| Net assets in USD |  | 1 785 038 748.14 | 2 151 129 465.23 | 627 370 969.98 |
| Class F-acc | LU1484152423 |  |  |  |
| Shares outstanding |  | 4 697 522.9170 | 5 969 794.6770 | 2 038 153.1940 |
| Net asset value per share in USD |  | 121.27 | 120.59 | 112.41 |
| Issue and redemption price per share in USD 1 |  | 121.27 | 120.59 | 112.41 |
| Class (CHF hedged) F-acc | LU1484152696 |  |  |  |
| Shares outstanding |  | 3 501 074.3920 | 4 669 765.8500 | 1 898 644.9080 |
| Net asset value per share in CHF |  | 107.55 | 108.15 | 103.06 |
| Issue and redemption price per share in CHF 1 |  | 107.55 | 108.15 | 103.06 |
| Class (EUR hedged) F-acc | LU1484153157 |  |  |  |
| Shares outstanding |  | 2 988 611.4050 | 3 718 106.0590 | 1 370 281.7660 |
| Net asset value per share in EUR |  | 111.68 | 111.96 | 106.37 |
| Issue and redemption price per share in EUR 1 |  | 111.68 | 111.96 | 106.37 |
| Class (GBP hedged) F-acc | LU1865229824 |  |  |  |
| Shares outstanding |  | 426 548.7680 | 378 965.6090 | 63 326.8020 |
| Net asset value per share in GBP |  | 115.17 | 114.82 | 108.45 |
| Issue and redemption price per share in GBP 1 |  | 115.17 | 114.82 | 108.45 |
| Class (JPY hedged) F-acc 2 | LU2288920767 |  |  |  |
| Shares outstanding |  | 115 407.0000 | - | - |
| Net asset value per share in JPY |  | 9 895 | - | - |
| Issue and redemption price per share in JPY 1 |  | 9 895 | - | - |
| Class (GBP hedged) F-dist 3 | LU2127528359 |  |  |  |
| Shares outstanding |  | 2 295 385.5000 | 2 157 685.5000 | - |
| Net asset value per share in GBP |  | 102.13 | 103.04 | - |
| Issue and redemption price per share in GBP 1 |  | 102.13 | 103.04 | - |
| Class (CHF hedged) F-UKdist | LU1490621650 |  |  |  |
| Shares outstanding |  | 175 213.0000 | 479 950.0000 | 290 510.0000 |
| Net asset value per share in CHF |  | 95.53 | 98.45 | 96.73 |
| Issue and redemption price per share in CHF 1 |  | 95.53 | 98.45 | 96.73 |
| 1  See note 1 2  First NAV: 14.9.2021 3  First NAV: 4.5.2020 |  |  |  |  |
| Performance |  |  |  |  |
|  | Currency | 2020/2021 | 2019/2020 | 2018/2019 |
| Class F-acc | USD | 0.6% | 7.3% | 10.5% |
| Class (CHF hedged) F-acc | CHF | -0.6% | 4.9% | 6.8% |
| Class (EUR hedged) F-acc | EUR | -0.3% | 5.3% | 7.3% |
| Class (GBP hedged) F-acc | GBP | 0.3% | 5.9% | 8.6% |
| Class (JPY hedged) F-acc 1 | JPY | - | - | - |
| Class (GBP hedged) F-dist | GBP | 0.3% | - | - |
| Class (CHF hedged) F-UKdist | CHF | -0.5% | 4.9% | 6.8% |
| Benchmark: 2 |  |  |  |  |
| Bloomberg Barclays US Corporate Intermediate Index (TR) | USD | 0.7% | 6.2% | 10.8% |
| Bloomberg Barclays US Corporate Intermediate Index (TR) (CHF hedged) | CHF | -0.5% | 4.1% | 6.9% |
| Bloomberg Barclays US Corporate Intermediate Index (TR) (EUR hedged) | EUR | -0.2% | 4.5% | 7.4% |
| Bloomberg Barclays US Corporate Intermediate Index (TR) (GBP hedged) | GBP | 0.5% | 5.2% | 8.7% |
| Bloomberg Barclays US Corporate Intermediate Index (TR) (JPY hedged) | JPY | - | - | - |
| 1  Due to the recent launch, there is no data for the calculation of the performance available. |  |  |  |  |

2 
The subfund is actively managed. The index is a point of reference against which the performance of the subfund may be measured. Historical performance is no indicator of current or future performance.
The performance data does not take account of any commissions and costs charged when subscribing and redeeming shares. The performance data were not audited.
Focused SICAV – US Corporate Bond Sustainable USD
Annual report and audited financial statements as of 31 October 2021

## Report of the Portfolio Manager
In the financial year, from 1 November 2020 to 31 October 2021, US Treasury yields increased particularly early in 2021 as macroeconomic conditions improved and expec- tations for fiscal stimulus increased. The Fed maintained the Fed funds rate at very low levels but began to signal possible tapering of asset purchases near the end of the reporting period. US investment grade corporate credit spreads finished the period lower, with consistent spread tightening before settling into a range near historically low levels. Investors took advantage of rising US Treasury yields as an entry point as corporate credit was strongly in demand for most of the reporting period experiencing net positive inflows over this timeframe.
The subfund delivered a positive performance during the financial year. Income and the tightening of credit spreads over the period were the primary drivers of performance more than offsetting the negative effect from a rise in US Treasury yields. The subfund has followed a diversified approach, investing across a range of industries and issu- ers in the corporate bond market. The option-adjusted duration of the subfund at the end of the financial year was slightly lower than a year prior consistent with the movement of the market over the year finishing at 4.5 years. Spread management added to performance for the subfund as sector allocation and security selection were both drivers of performance.

## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
United States	69.19
| United Kingdom | 6.93 |
| --- | --- |
| Canada | 3.29 |
| Australia | 3.02 |
| The Netherlands | 2.69 |
| Ireland | 2.12 |
| Japan | 1.66 |
| France | 1.00 |
| Cayman Islands | 0.93 |
| Bermuda | 0.88 |
| Italy | 0.63 |
| Sweden | 0.55 |
| Norway | 0.45 |
| Switzerland | 0.36 |
| Finland | 0.19 |
| Guernsey | 0.19 |
| Total | 94.08 |

Economic Breakdown as a % of net assets	
| Banks & credit institutions | 25.60 |
| --- | --- |
| Finance & holding companies | 17.28 |
| Internet, software & IT services | 5.44 |
| Telecommunications | 5.24 |
| Energy & water supply | 4.69 |
| Pharmaceuticals, cosmetics & medical products | 3.96 |
| Computer hardware & network equipment providers | 3.62 |
| Traffic & transportation | 3.49 |
| Electronics & semiconductors | 2.89 |
| Retail trade, department stores | 2.12 |
| Building industry & materials | 1.93 |
| Healthcare & social services | 1.84 |
| Insurance | 1.54 |
| Mechanical engineering & industrial equipment | 1.53 |
| Real Estate | 1.52 |
| Miscellaneous consumer goods | 1.52 |
| Vehicles | 1.14 |
| Mining, coal & steel | 1.02 |
| Food & soft drinks | 0.95 |
| Miscellaneous trading companies | 0.90 |
| Graphic design, publishing & media | 0.87 |
| Agriculture & fishery | 0.82 |
| Electrical devices & components | 0.75 |
| Petroleum | 0.67 |
| Mortgage & funding institutions | 0.62 |
| Biotechnology | 0.54 |
| Non-ferrous metals | 0.44 |
| Miscellaneous services | 0.42 |
| Textiles, garments & leather goods | 0.36 |
| Packaging industry | 0.25 |
| Chemicals | 0.12 |
| Total | 94.08 |

Focused SICAV – US Corporate Bond Sustainable USD Annual report and audited financial statements as of 31 October 2021

## Statement of Net Assets
Assets	31.10.2021
USD
Investments in securities, cost	1 681 862 266.59
| Investments in securities, unrealized appreciation (depreciation) | 	-2 545 687.21	 |
| --- | --- |
| Total investments in securities (Note 1) | 1 679 316 579.38 |
| Cash at banks, deposits on demand and deposit accounts | 80 331 842.04 |
| Other liquid assets (Margins) | 283 148.75 |
| Receivable on securities sales (Note 1) | 5 781 328.71 |
| Receivable on subscriptions | 7 902 737.54 |
| Interest receivable on securities | 12 810 662.89 |
| Total Assets | 1 786 426 299.31 |
|  |  |
| Liabilities |  |
| Unrealized loss on financial futures (Note 1) | -69 335.97 |
| Unrealized loss on forward foreign exchange contracts (Note 1) | -303 022.79 |
| Payable on redemptions | -777 670.93 |
| Provisions for flat fee (Note 2) | -167 758.98 |
| Provisions for taxe d’abonnement (Note 3) | -14 066.88 |
| Provisions for other commissions and fees (Note 2) | 	-55 695.62	 |
| Total provisions | -237 521.48 |
| Total Liabilities | -1 387 551.17 |
|  |  |
| Net assets at the end of the financial year | 1 785 038 748.14 |
| Statement of Operations | USD |
| Income | 1.11.2020-31.10.2021 |
| Interest on securities | 81 131 073.72 |
| Net income on securities lending | 182 770.21 |
| Other income (Note 4) | 4 385 047.05 |
| Total income | 85 698 890.98 |
|  |  |
| Expenses |  |
| Flat fee (Note 2) | -7 626 389.11 |
| Taxe d’abonnement (Note 3) | -283 162.67 |
| Other commissions and fees (Note 2) | -185 928.02 |
| Interest on cash and bank overdraft | -173 138.16 |
| Total expenses | -8 268 617.96 |
|  |  |
| Net income (loss) on investments | 77 430 273.02 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | 30 196 056.53 |
| Realized gain (loss) on financial futures | 1 512 286.08 |
| Realized gain (loss) on forward foreign exchange contracts | -46 498 240.70 |
| Realized gain (loss) on foreign exchange | 15 906 953.91 |
| Total realized gain (loss) | 1 117 055.82 |
|  |  |
| Net realized gain (loss) of the financial year | 78 547 328.84 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | -76 115 522.41 |
| Unrealized appreciation (depreciation) on financial futures | -528 710.97 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | 19 924 247.17 |
| Total changes in unrealized appreciation (depreciation) | -56 719 986.21 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | 21 827 342.63 |

Focused SICAV – US Corporate Bond Sustainable USD
Annual report and audited financial statements as of 31 October 2021
| Statement of Changes in Net Assets |  |
| --- | --- |
|  |  | USD |
|  |  | 1.11.2020-31.10.2021 |
| Net assets at the beginning of the financial year |  | 2 151 129 465.23 |
| Subscriptions |  | 2 401 879 871.78 |
| Redemptions |  | 	-2 784 752 741.32	 |
| Total net subscriptions (redemptions) |  | -382 872 869.54 |
| Dividend paid |  | -5 045 190.18 |
| Net income (loss) on investments |  | 77 430 273.02 |
| Total realized gain (loss) |  | 1 117 055.82 |
| Total changes in unrealized appreciation (depreciation) |  | 	-56 719 986.21	 |
| Net increase (decrease) in net assets as a result of operations |  | 21 827 342.63 |
| Net assets at the end of the financial year |  | 1 785 038 748.14 |
| Changes in the Number of Shares outstanding |  |  |
|  |  | 1.11.2020-31.10.2021 |
| Class |  | F-acc |
| Number of shares outstanding at the beginning of the financial year |  | 5 969 794.6770 |
| Number of shares issued |  | 8 192 177.8500 |
| Number of shares redeemed |  | -9 464 449.6100 |
| Number of shares outstanding at the end of the financial year |  | 4 697 522.9170 |
| Class |  | (CHF hedged) F-acc |
| Number of shares outstanding at the beginning of the financial year |  | 4 669 765.8500 |
| Number of shares issued |  | 4 245 910.5100 |
| Number of shares redeemed |  | -5 414 601.9680 |
| Number of shares outstanding at the end of the financial year |  | 3 501 074.3920 |
| Class |  | (EUR hedged) F-acc |
| Number of shares outstanding at the beginning of the financial year |  | 3 718 106.0590 |
| Number of shares issued |  | 5 140 630.3540 |
| Number of shares redeemed |  | -5 870 125.0080 |
| Number of shares outstanding at the end of the financial year |  | 2 988 611.4050 |
| Class |  | (GBP hedged) F-acc |
| Number of shares outstanding at the beginning of the financial year |  | 378 965.6090 |
| Number of shares issued |  | 863 384.1590 |
| Number of shares redeemed |  | -815 801.0000 |
| Number of shares outstanding at the end of the financial year |  | 426 548.7680 |
| Class |  | (JPY hedged) F-acc |
| Number of shares outstanding at the beginning of the financial year |  | 0.0000 |
| Number of shares issued |  | 129 107.0000 |
| Number of shares redeemed |  | -13 700.0000 |
| Number of shares outstanding at the end of the financial year |  | 115 407.0000 |
| Class |  | (GBP hedged) F-dist |
| Number of shares outstanding at the beginning of the financial year |  | 2 157 685.5000 |
| Number of shares issued |  | 333 228.0000 |
| Number of shares redeemed |  | -195 528.0000 |
| Number of shares outstanding at the end of the financial year |  | 2 295 385.5000 |
| Class |  | (CHF hedged) F-UKdist |
| Number of shares outstanding at the beginning of the financial year |  | 479 950.0000 |
| Number of shares issued |  | 104 349.0000 |
| Number of shares redeemed |  | -409 086.0000 |
| Number of shares outstanding at the end of the financial year |  | 175 213.0000 |
| Annual Distribution 1 |  |  |
| Focused SICAV – US Corporate Bond Sustainable USD	Ex-Date | Pay-Date | Currency	Amount per share |
| (GBP hedged) F-dist	4.1.2021 | 7.1.2021 | GBP	1.24 |
| (CHF hedged) F-UKdist	16.11.2020 | 17.11.2020 | CHF	2.43 |
| 1  See note 5 |  |  |

Focused SICAV – US Corporate Bond Sustainable USD Annual report and audited financial statements as of 31 October 2021

## Statement of Investments in Securities and other Net Assets as of 31 October 2021
| 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 | 3 200 000.00 | 3 291 943.91 | 0.18 |
| USD	ABBOTT LABORATORIES 3.75000% 16-30.11.26 | 3 749 000.00 | 4 150 711.47 | 0.23 |
| USD	ABBVIE INC 2.60000% 20-21.11.24 | 3 200 000.00 | 3 331 972.60 | 0.19 |
| USD	ABBVIE INC 2.95000% 20-21.11.26 | 3 829 000.00 | 4 047 757.36 | 0.23 |
| USD	ABBVIE INC 3.20000% 16-14.05.26 | 4 500 000.00 | 4 797 196.02 | 0.27 |
| USD	ABBVIE INC 3.20000% 20-21.11.29 | 3 200 000.00 | 3 419 615.30 | 0.19 |
| USD	ADOBE INC 2.30000% 20-01.02.30 | 6 500 000.00 | 6 663 439.90 | 0.37 |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 3.50000% 17-26.05.22 | 2 500 000.00 | 2 534 998.78 | 0.14 |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 4.12500% 18-03.07.23 | 3 200 000.00 | 3 364 374.47 | 0.19 |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 4.50000% 20-15.09.23 | 3 770 000.00 | 3 997 668.60 | 0.22 |
| USD	AERCAP IRELAND CAP/ GLBL AVIATION TRUST 6.50000% 20-15.07.25 | 5 350 000.00 | 6 199 279.49 | 0.35 |
| USD	AERCAP IRELAND CAPITAL DAC / AERCAP GLO 2.45000% 21-29.10.26 | 6 000 000.00 | 6 056 335.38 | 0.34 |
| USD	AERCAP IRELAND CAPITAL DAC / AERCAP GLO 3.00000% 21-29.10.28 | 3 000 000.00 | 3 041 792.04 | 0.17 |
| USD	AIR LEASE CORP 3.25000% 18-01.03.25 | 6 500 000.00 | 6 811 715.11 | 0.38 |
| USD	AIR LEASE CORP 3.87500% 18-03.07.23 | 6 941 000.00 | 7 257 934.46 | 0.41 |
| USD	ALLY FINANCIAL INC 5.12500% 14-30.09.24 | 2 878 000.00 | 3 196 958.30 | 0.18 |
| USD	ALLY FINANCIAL INC 5.80000% 20-01.05.25 | 3 000 000.00 | 3 418 440.54 | 0.19 |
| USD	ALPHABET INC 0.45000% 20-15.08.25 | 3 200 000.00 | 3 135 712.99 | 0.18 |
| USD	ALPHABET INC 0.80000% 20-15.08.27 | 9 700 000.00 | 9 298 706.83 | 0.52 |
| USD	AMERICAN EXPRESS CO 3.00000% 17-30.10.24 | 3 200 000.00 | 3 383 706.02 | 0.19 |
| USD	AMERICAN INTERNATIONAL GROUP INC 4.25000% 19-15.03.29 | 2 400 000.00 | 2 731 395.21 | 0.15 |
| USD	AMGEN INC 2.20000% 20-21.02.27 | 4 500 000.00 | 4 589 809.38 | 0.26 |
| USD	APPLE INC 1.12500% 20-11.05.25 | 4 500 000.00 | 4 498 081.25 | 0.25 |
| USD	APPLE INC 1.20000% 21-08.02.28 | 3 200 000.00 | 3 100 394.50 | 0.17 |
| USD	APPLE INC 1.65000% 21-08.02.31 | 3 200 000.00 | 3 099 434.40 | 0.17 |
| USD	APPLE INC 1.80000% 19-11.09.24 | 3 200 000.00 | 3 281 192.00 | 0.18 |
| USD	APPLE INC 2.05000% 19-11.09.26 | 8 400 000.00 | 8 645 409.95 | 0.48 |
| USD	ASHTEAD CAPITAL INC-144A 4.25000% 19-01.11.29 | 9 225 000.00 | 9 995 634.73 | 0.56 |
| USD	ASHTEAD CAPITAL INC-144A 1.50000% 21-12.08.26 | 3 600 000.00 | 3 532 554.76 | 0.20 |
| USD	ASTRAZENECA PLC 3.37500% 15-16.11.25 | 3 310 000.00 | 3 582 499.45 | 0.20 |
| USD	AT&T INC 2.75000% 20-01.06.31 | 7 800 000.00 | 7 934 394.86 | 0.44 |
| USD	AT&T INC 4.25000% 17-01.03.27 | 2 600 000.00 | 2 902 331.87 | 0.16 |
| USD	AT&T INC 4.30000% 18-15.02.30 | 3 900 000.00 | 4 428 704.78 | 0.25 |
| USD	AVOLON HOLDINGS FUNDING LTD-144A 5.12500% 18-01.10.23 | 3 200 000.00 | 3 411 815.52 | 0.19 |
| USD	BARCLAYS PLC 3.68400% 17-10.01.23 | 2 700 000.00 | 2 715 938.21 | 0.15 |
| USD	BP CAPITAL MARKETS AMERICA INC 4.23400% 18-06.11.28 | 3 000 000.00 | 3 421 586.76 | 0.19 |
| USD	BP CAPITAL MARKETS PLC 3.21600% 18-28.11.23 | 3 574 000.00 | 3 742 376.93 | 0.21 |
| USD	BRISTOL-MYERS SQUIBB CO 2.90000% 20-26.07.24 | 4 476 000.00 | 4 711 407.66 | 0.26 |
| USD	BROADCOM INC 5.00000% 20-15.04.30 | 15 000 000.00 | 17 405 490.60 | 0.98 |
| USD	CAPITAL ONE FINANCIAL CORP 3.30000% 17-30.10.24 | 3 900 000.00 | 4 143 747.46 | 0.23 |
| USD	CENTENE CORP 3.00000% 20-15.10.30 | 10 000 000.00 | 10 163 800.00 | 0.57 |
| USD	CENTERPOINT ENERGY INC 4.25000% 18-01.11.28 | 3 000 000.00 | 3 393 502.71 | 0.19 |
| USD	CENTURYLINK INC 6.75000% 13-01.12.23 | 7 500 000.00 | 8 231 325.00 | 0.46 |
| USD	CIGNA CORP 2.37500% 21-15.03.31 | 5 000 000.00 | 5 011 198.20 | 0.28 |
| USD	CIGNA CORP 2.40000% 20-15.03.30 | 3 600 000.00 | 3 636 487.19 | 0.20 |
| USD	CIGNA CORP 4.12500% 19-15.11.25 | 4 500 000.00 | 4 949 593.16 | 0.28 |
| USD	CIT GROUP INC 5.00000% 13-01.08.23 | 5 000 000.00 | 5 306 250.00 | 0.30 |
| USD	CITIGROUP INC-SUB 4.45000% 15-29.09.27 | 3 050 000.00 | 3 427 441.00 | 0.19 |
| USD	CMS ENERGY CORP 2.95000% 16-15.02.27 | 2 000 000.00 | 2 092 715.44 | 0.12 |
| USD	COCA-COLA CO/THE 1.45000% 20-01.06.27 | 3 200 000.00 | 3 185 540.03 | 0.18 |
| USD	COMCAST CORP 3.95000% 18-15.10.25 | 7 736 000.00 | 8 500 292.89 | 0.48 |
| USD	COMCAST CORP 4.15000% 18-15.10.28 | 3 200 000.00 | 3 651 496.87 | 0.20 |
| USD	CREDIT SUISSE GROUP AG 3.75000% 16-26.03.25 | 3 200 000.00 | 3 425 086.18 | 0.19 |
| USD	CVS HEALTH CORP 1.30000% 20-21.08.27 | 4 500 000.00 | 4 362 060.96 | 0.24 |
| USD	CVS HEALTH CORP 2.87500% 16-01.06.26 | 2 721 000.00 | 2 863 865.86 | 0.16 |
| USD	CVS HEALTH CORP 4.30000% 18-25.03.28 | 2 366 000.00 | 2 678 687.79 | 0.15 |
| USD	DISCOVERY COMMUNICATIONS LLC 3.62500% 20-15.05.30 | 3 200 000.00 | 3 442 729.76 | 0.19 |
| USD	DUPONT DE NEMOURS INC 4.20500% 18-15.11.23 | 6 500 000.00 | 6 929 102.96 | 0.39 |
| USD	EBAY INC 2.60000% 21-10.05.31 | 13 300 000.00 | 13 453 848.68 | 0.75 |
| USD	ENBRIDGE INC 3.12500% 19-15.11.29 | 6 830 000.00 | 7 227 923.38 | 0.41 |
| USD	EPR PROPERTIES 4.95000% 18-15.04.28 | 8 250 000.00 | 9 032 880.70 | 0.51 |
| USD	EQT CORP 3.90000% 17-01.10.27 | 5 000 000.00 | 5 337 500.00 | 0.30 |
| USD	EQUINIX INC 1.80000% 20-15.07.27 | 3 400 000.00 | 3 377 344.47 | 0.19 |
| USD	EQUINIX INC 2.62500% 19-18.11.24 | 7 800 000.00 | 8 102 097.35 | 0.45 |
| USD	EQUINIX INC 3.20000% 19-18.11.29 | 2 515 000.00 | 2 649 472.07 | 0.15 |
| USD	ESTEE LAUDER COS INC 2.60000% 20-15.04.30 | 3 950 000.00 | 4 125 195.38 | 0.23 |
| USD	FISERV INC 2.25000% 20-01.06.27 | 6 500 000.00 | 6 609 726.89 | 0.37 |
| USD	FISERV INC 3.50000% 19-01.07.29 | 3 200 000.00 | 3 453 941.44 | 0.19 |
| USD	FLOWSERVE CORP 3.50000% 20-01.10.30 | 5 600 000.00 | 5 861 718.92 | 0.33 |
| USD	FORD MOTOR CREDIT CO 3.37500% 20-13.11.25 | 3 200 000.00 | 3 288 000.00 | 0.18 |
| USD	GENERAL MOTORS CO 6.80000% 20-01.10.27 | 9 700 000.00 | 11 956 874.75 | 0.67 |
| USD	GENERAL MOTORS FINANCIAL CO INC 3.50000% 17-07.11.24 | 6 500 000.00 | 6 896 400.10 | 0.39 |
| USD	GENERAL MOTORS FINANCIAL CO 3.85000% 18-05.01.28 | 2 430 000.00 | 2 636 889.98 | 0.15 |
| USD	GENERAL MOTORS FINANCIAL CO 4.35000% 18-09.04.25 | 3 200 000.00 | 3 482 027.36 | 0.20 |
| USD	GENERAL MOTORS FINANCIAL CO INC 2.70000% 20-20.08.27 | 3 200 000.00 | 3 266 744.74 | 0.18 |
| USD	GOLDMAN SACHS GROUP INC 3.80000% 20-15.03.30 | 9 700 000.00 | 10 740 570.22 | 0.60 |
| USD	GOLDMAN SACHS GROUP INC/THE 3.50000% 16-16.11.26 | 3 900 000.00 | 4 178 658.08 | 0.23 |
| USD	HCA INC 4.75000% 12-01.05.23 | 2 900 000.00 | 3 065 063.36 | 0.17 |
| USD	HCA INC 5.00000% 14-15.03.24 | 8 400 000.00 | 9 142 263.65 | 0.51 |
| USD	HCA INC 5.25000% 16-15.06.26 | 4 500 000.00 | 5 102 859.69 | 0.29 |
| USD	HOME DEPOT INC 2.70000% 20-15.04.30 | 5 700 000.00 | 6 005 471.61 | 0.34 |
| USD	HOME DEPOT INC/THE 1.50000% 21-15.09.28 | 7 500 000.00 | 7 361 952.82 | 0.41 |
| USD	INTERNATIONAL BUSINESS MACHINES CORP 3.50000% 19-15.05.29 | 3 200 000.00 | 3 506 312.67 | 0.20 |
| USD	JOHNSON & JOHNSON 0.95000% 20-01.09.27 | 10 000 000.00 | 9 685 063.50 | 0.54 |
| USD	JOHNSON CONTROLS INTERNATIONAL PLC 2.00000% 21-16.09.31 | 6 500 000.00 | 6 290 316.11 | 0.35 |
| USD	JPMORGAN CHASE & CO 3.20000% 16-15.06.26 | 3 434 000.00 | 3 664 761.95 | 0.21 |
| USD	KB HOME 7.62500% 15-15.05.23 | 7 500 000.00 | 7 968 750.00 | 0.45 |
| USD	KENNAMETAL INC 2.80000% 21-01.03.31 | 5 000 000.00 | 5 011 072.30 | 0.28 |

Focused SICAV – US Corporate Bond Sustainable USD
Annual report and audited financial statements as of 31 October 2021
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | KINROSS GOLD CORP 5.95000% 14-15.03.24 | 7 100 000.00 | 7 793 310.67 | 0.44 |
| USD | LENNAR CORP 4.75000% 18-29.11.27 | 5 800 000.00 | 6 592 567.97 | 0.37 |
| USD | LLOYDS BANKING GROUP PLC 4.45000% 18-08.05.25 | 4 900 000.00 | 5 391 627.09 | 0.30 |
| USD | LOWE’S COS INC 1.30000% 20-15.04.28 | 4 129 000.00 | 3 973 563.34 | 0.22 |
| USD | LOWE’S COS INC 4.50000% 20-15.04.30 | 3 200 000.00 | 3 730 825.02 | 0.21 |
| USD | LSEGA FINANCING PLC-144A 2.00000% 21-06.04.28 | 7 000 000.00 | 6 964 565.86 | 0.39 |
| USD | LSEGA FINANCING PLC-144A 2.50000% 21-06.04.31 | 5 000 000.00 | 5 047 174.45 | 0.28 |
| USD | MARTIN MARIETTA MATERIALS INC 0.65000% 21-15.07.23 | 9 600 000.00 | 9 597 995.62 | 0.54 |
| USD | MASCO CORP 1.50000% 21-15.02.28 | 4 500 000.00 | 4 337 872.87 | 0.24 |
| USD | MASCO CORP 2.00000% 20-01.10.30 | 3 800 000.00 | 3 635 640.01 | 0.20 |
| USD | MASTERCARD INC 2.00000% 19-03.03.25 | 3 600 000.00 | 3 704 702.22 | 0.21 |
| USD | MERCK & CO INC 1.45000% 20-24.06.30 | 4 400 000.00 | 4 228 529.49 | 0.24 |
| USD | MITSUBISHI UFJ FINANCIAL GRP INC 2.19300% 20-25.02.25 | 3 200 000.00 | 3 282 980.80 | 0.18 |
| USD | MORGAN STANLEY 3.62500% 17-20.01.27 | 2 600 000.00 | 2 825 781.82 | 0.16 |
| USD | NATIONWIDE BUILDING SOCIETY-144A 0.55000% 21-22.01.24 | 5 200 000.00 | 5 149 905.96 | 0.29 |
| USD | NATWEST GROUP PLC 3.87500% 16-12.09.23 | 6 580 000.00 | 6 935 049.50 | 0.39 |
| USD | NATWEST GROUP PLC-SUB 6.00000% 13-19.12.23 | 7 074 000.00 | 7 784 269.64 | 0.44 |
| USD | NATWEST GROUP PLC-SUB 6.12500% 12-15.12.22 | 4 198 000.00 | 4 446 694.72 | 0.25 |
| USD | NETFLIX INC 4.87500% 18-15.04.28 | 7 500 000.00 | 8 592 150.00 | 0.48 |
| USD | NEWELL BRANDS INC 3.85000% 16-01.04.23 | 10 000 000.00 | 10 414 400.00 | 0.58 |
| USD | NEXTERA ENERGY 1.90000% 21-15.06.28 | 5 000 000.00 | 4 942 346.15 | 0.28 |
| USD | NIKE INC 2.85000% 20-27.03.30 | 6 000 000.00 | 6 427 327.68 | 0.36 |
| USD | NOKIA OYJ 4.37500% 17-12.06.27 | 3 200 000.00 | 3 440 000.00 | 0.19 |
| USD | NUCOR CORP 2.00000% 20-01.06.25 | 3 200 000.00 | 3 266 554.15 | 0.18 |
| USD | NVIDIA CORP 2.85000% 20-01.04.30 | 5 200 000.00 | 5 524 366.95 | 0.31 |
| USD | ORACLE CORP 2.30000% 21-25.03.28 | 4 500 000.00 | 4 567 724.91 | 0.26 |
| USD | ORACLE CORP 2.50000% 20-01.04.25 | 5 800 000.00 | 6 014 349.50 | 0.34 |
| USD | ORACLE CORP 2.87500% 21-25.03.31 | 4 500 000.00 | 4 616 584.70 | 0.26 |
| USD | ORACLE CORP 3.25000% 17-15.11.27 | 4 200 000.00 | 4 488 584.90 | 0.25 |
| USD | PAYPAL HOLDINGS INC 2.30000% 20-01.06.30 | 2 600 000.00 | 2 646 047.93 | 0.15 |
| USD | PFIZER INC 0.80000% 20-28.05.25 | 5 800 000.00 | 5 740 677.43 | 0.32 |
| USD | PRINCIPAL FINANCIAL GROUP 3.10000% 16-15.11.26 | 3 200 000.00 | 3 407 848.13 | 0.19 |
| USD | QUALCOMM INC 3.25000% 17-20.05.27 | 3 200 000.00 | 3 463 894.24 | 0.19 |
| USD | QUANTA SERVICES INC 2.90000% 20-01.10.30 | 10 750 000.00 | 11 103 919.67 | 0.62 |
| USD | RABOBANK NEDERLAND NV-SUB 3.75000% 16-21.07.26 | 4 900 000.00 | 5 327 530.59 | 0.30 |
| USD | ROPER TECHNOLOGIES INC 1.00000% 20-15.09.25 | 2 900 000.00 | 2 853 606.36 | 0.16 |
| USD | SABINE PASS LIQUEFACTION LLC 5.75000% 14-15.05.24 | 3 500 000.00 | 3 853 406.55 | 0.22 |
| USD | SABINE PASS LIQUEFACTION LLC 5.87500% 17-30.06.26 | 3 000 000.00 | 3 481 880.58 | 0.20 |
| USD | SALESFORCE.COM INC 1.50000% 21-15.07.28 | 11 000 000.00 | 10 828 364.03 | 0.61 |
| USD | SEALED AIR CORP-144A 5.12500% 14-01.12.24 | 4 165 000.00 | 4 487 787.50 | 0.25 |
| USD | SEMPRA ENERGY 3.25000% 17-15.06.27 | 5 050 000.00 | 5 379 937.76 | 0.30 |
| USD | SEMPRA ENERGY 3.55000% 14-15.06.24 | 9 717 000.00 | 10 266 095.33 | 0.58 |
| USD | SOUTHWEST AIRLINES CO 2.62500% 20-10.02.30 | 2 800 000.00 | 2 828 216.44 | 0.16 |
| USD | SOUTHWEST AIRLINES CO 4.75000% 20-04.05.23 | 4 804 000.00 | 5 083 571.91 | 0.28 |
| USD | SOUTHWEST AIRLINES CO 5.25000% 20-04.05.25 | 3 200 000.00 | 3 587 541.98 | 0.20 |
| USD | STEEL DYNAMICS INC 2.40000% 20-15.06.25 | 3 000 000.00 | 3 091 113.96 | 0.17 |
| USD | SUMITOMO MITSUI FIN GP INC 2.44800% 19-27.09.24 | 6 500 000.00 | 6 714 384.95 | 0.38 |
| USD | SUMITOMO MITSUI FIN GP INC 2.34800% 20-15.01.25 | 3 200 000.00 | 3 296 188.80 | 0.18 |
| USD | SUMITOMO MITSUI FINANCIAL GROUP INC 0.94800% 21-12.01.26 | 3 200 000.00 | 3 108 098.56 | 0.17 |
| USD | T-MOBILE USA INC 2.25000% 21-15.02.26 | 10 000 000.00 | 10 050 000.00 | 0.56 |
| USD | TARGET CORP 2.25000% 20-15.04.25 | 3 200 000.00 | 3 319 512.80 | 0.19 |
| USD | TELECOM ITALIA SPA-144A 5.30300% 14-30.05.24 | 7 500 000.00 | 7 987 500.00 | 0.45 |
| USD | TEXAS INSTRUMENTS INC 1.12500% 21-15.09.26 | 3 500 000.00 | 3 472 779.94 | 0.19 |
| USD | TEXAS INSTRUMENTS INC 1.90000% 21-15.09.31 | 4 000 000.00 | 3 942 904.20 | 0.22 |
| USD | THERMO FISHER SCIENTIFIC INC 2.95000% 16-19.09.26 | 3 825 000.00 | 4 072 914.62 | 0.23 |
| USD | THERMO FISHER SCIENTIFIC INC 1.21500% 21-18.10.24 | 6 000 000.00 | 6 006 480.90 | 0.34 |
| USD | TOLL BROTHERS FINANCE CORP 4.37500% 13-15.04.23 | 2 000 000.00 | 2 065 000.00 | 0.12 |
| USD | UNITED RENTALS NORTH AMERICA INC 4.00000% 20-15.07.30 | 5 200 000.00 | 5 305 508.00 | 0.30 |
| USD | UNITEDHEALTH GROUP INC 3.70000% 18-15.12.25 | 2 600 000.00 | 2 850 588.15 | 0.16 |
| USD | UNITEDHEALTH GROUP INC 2.87500% 19-15.08.29 | 2 340 000.00 | 2 487 103.33 | 0.14 |
| USD | VERIZON COMMUNICATIONS INC 2.62500% 16-15.08.26 | 9 900 000.00 | 10 379 373.44 | 0.58 |
| USD | VERIZON COMMUNICATIONS INC 4.32900% 18-21.09.28 | 2 521 000.00 | 2 877 738.52 | 0.16 |
| USD | VERIZON COMMUNICATIONS INC 4.01600% 19-03.12.29 | 2 000 000.00 | 2 241 374.60 | 0.13 |
| USD | VERIZON COMMUNICATIONS INC 2.10000% 21-22.03.28 | 3 200 000.00 | 3 208 863.20 | 0.18 |
| USD | VERIZON COMMUNICATIONS INC 2.55000% 21-21.03.31 | 6 500 000.00 | 6 550 693.89 | 0.37 |
| USD | VMWARE INC 3.90000% 17-21.08.27 | 3 200 000.00 | 3 509 540.84 | 0.20 |
| USD | WALT DISNEY CO 1.75000% 19-30.08.24 | 3 200 000.00 | 3 275 117.53 | 0.18 |
| USD | WALT DISNEY CO 2.00000% 19-01.09.29 | 8 400 000.00 | 8 407 045.92 | 0.47 |
| USD | WESTPAC BANKING CORP 2.35000% 19-19.02.25 | 3 200 000.00 | 3 317 216.64 | 0.19 |
| USD | WEYERHAEUSER CO 4.00000% 20-15.04.30 | 3 500 000.00 | 3 926 564.53 | 0.22 |
| USD | ZOETIS INC 2.00000% 20-15.05.30 | 6 500 000.00 | 6 377 888.60 | 0.36 |
| Total USD |  |  | 824 906 606.36 | 46.21 |
| Total Notes, fixed rate |  | 824 906 606.36 | 46.21 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 3.366%/VAR 18-23.01.26 | 3 226 000.00 | 3 422 814.93 | 0.19 |
| USD	BANK OF AMERICA CORP 3.419%/VAR 18-20.12.28 | 7 800 000.00 | 8 340 066.46 | 0.47 |
| USD	BANK OF AMERICA CORP 3.550%/3M LIBOR+78BP 18-05.03.24 | 4 500 000.00 | 4 667 346.72 | 0.26 |
| USD	BANK OF AMERICA CORP 4.271%/VAR 18-23.07.29 | 3 600 000.00 | 4 048 606.04 | 0.23 |
| USD	BARCLAYS PLC 1.007%/VAR 20-10.12.24 | 9 700 000.00 | 9 699 764.09 | 0.54 |
| USD	BARCLAYS PLC 2.852%/VAR 20-07.05.26 | 5 500 000.00 | 5 722 689.39 | 0.32 |
| USD	BARCLAYS PLC 4.610%/VAR 18-15.02.23 | 5 273 000.00 | 5 333 574.65 | 0.30 |
| USD	CITIGROUP INC 1.122%/VAR 21-28.01.27 | 9 700 000.00 | 9 470 263.45 | 0.53 |
| USD	CITIGROUP INC 2.572%/VAR 20-03.06.31 | 5 800 000.00 | 5 847 833.29 | 0.33 |
| USD	CITIGROUP INC 2.666%/VAR 20-29.01.31 | 12 300 000.00 | 12 505 726.11 | 0.70 |
| USD	CITIGROUP INC 3.520%/VAR 17-27.10.28 | 4 500 000.00 | 4 834 314.27 | 0.27 |
| USD	CREDIT SUISSE GROUP AG -144A 1.305%/VAR 21-02.02.27 | 3 200 000.00 | 3 093 108.19 | 0.17 |
| USD	CREDIT SUISSE GROUP-144A 2.593%/VAR 19-11.09.25 | 3 200 000.00 | 3 290 578.91 | 0.18 |
| USD	GOLDMAN SACHS GROUP INC 3.272%/VAR 17-29.09.25 | 3 200 000.00 | 3 377 395.49 | 0.19 |
| USD	GOLDMAN SACHS GROUP INC/THE 1.431%/VAR 21-09.03.27 | 3 200 000.00 | 3 150 782.72 | 0.18 |
| USD	HSBC HOLDINGS PLC 2.633%/VAR 19-07.11.25 | 3 200 000.00 | 3 308 826.63 | 0.19 |
| USD	HSBC HOLDINGS PLC 2.099%/VAR 20-04.06.26 | 5 200 000.00 | 5 264 580.72 | 0.30 |
| USD	HSBC HOLDINGS PLC 3.033%/3M LIBOR+92.3BP 17-22.11.23 | 2 600 000.00 | 2 662 832.17 | 0.15 |
| USD	HSBC HOLDINGS PLC 3.950%/VAR 18-18.05.24 | 4 500 000.00 | 4 709 969.91 | 0.26 |
| USD	HSBC HOLDINGS PLC 3.803%/VAR 19-11.03.25 | 5 425 000.00 | 5 743 168.12 | 0.32 |

Focused SICAV – US Corporate Bond Sustainable USD Annual report and audited financial statements as of 31 October 2021
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | JPMORGAN CHASE & CO 3.782%/VAR 17-01.02.28 | 4 200 000.00 | 4 577 768.58 | 0.26 |
| USD | JPMORGAN CHASE & CO 3.540%/VAR 17-01.05.28 | 2 686 000.00 | 2 900 988.28 | 0.16 |
| USD | JPMORGAN CHASE & CO 3.509%/3M LIBOR+94.5BP 18-23.01.29 | 3 200 000.00 | 3 455 335.39 | 0.19 |
| USD | JPMORGAN CHASE & CO 4.452%/3M LIBOR+133BP 18-05.12.29 | 2 357 000.00 | 2 689 383.97 | 0.15 |
| USD | JPMORGAN CHASE & CO 3.960%/3M LIBOR+124.5BP 19-29.01.27 | 2 600 000.00 | 2 833 037.82 | 0.16 |
| USD | JPMORGAN CHASE & CO 3.702%/VAR 19-06.05.30 | 6 500 000.00 | 7 102 885.60 | 0.40 |
| USD | JPMORGAN CHASE & CO 2.182%/VAR 20-01.06.28 | 5 800 000.00 | 5 835 280.99 | 0.33 |
| USD | JPMORGAN CHASE & CO 1.040%/VAR 21-04.02.27 | 17 900 000.00 | 17 387 980.89 | 0.97 |
| USD | JPMORGAN CHASE & CO-SUB 2.956%/VAR 20-13.05.31 | 7 500 000.00 | 7 742 580.60 | 0.43 |
| USD | LLOYDS BANKING GROUP PLC 2.907%/3M LIBOR+81BP 17-07.11.23 | 4 689 000.00 | 4 793 637.90 | 0.27 |
| USD | LLOYDS BANKING GROUP PLC 2.438%/VAR 20-05.02.26 | 2 613 000.00 | 2 688 698.68 | 0.15 |
| USD | LLOYDS BANKING GROUP PLC 3.870%/VAR 20-09.07.25 | 4 919 000.00 | 5 261 768.26 | 0.30 |
| USD | MITSUBISHI UFJ FINANCIAL GROUP INC 0.953%/ VAR 21-19.07.25 | 10 000 000.00 | 9 930 726.00 | 0.56 |
| USD | MIZUHO FINANCIAL GROUP INC VAR 20-10.07.24 | 3 200 000.00 | 3 220 044.48 | 0.18 |
| USD | NATIONWIDE BUIL SOC-144A 3.766%/3M LIBOR+106.4BP 18-08.03.24 | 6 030 000.00 | 6 259 226.35 | 0.35 |
| USD | VODAFONE GROUP PLC-SUB 3.250%/VAR 21-04.06.81 | 9 000 000.00 | 9 004 230.00 | 0.50 |
| USD | WESTPAC BANKING CORP-SUB 2.668%/VAR 20-15.11.35 | 3 200 000.00 | 3 109 507.20 | 0.17 |
| Total USD |  |  | 207 287 323.25 | 11.61 |
| Total Notes, floating rate |  | 207 287 323.25 | 11.61 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AIR LEASE CORP 3.00000% 20-01.02.30 | 2 000 000.00 | 2 022 810.16 | 0.11 |
| USD	BANK OF AMERICA CORP-SUB 4.45000% 16-03.03.26 | 5 800 000.00 | 6 427 966.40 | 0.36 |
| USD	BANK OF AMERICA CORP 3.50000% 16-19.04.26 | 5 800 000.00 | 6 263 050.83 | 0.35 |
| USD	BANK OF AMERICA CORP-SUB 4.18300% 16-25.11.27 | 3 600 000.00 | 3 966 195.56 | 0.22 |
| USD	BANK OF MONTREAL 1.25000% 21-15.09.26 | 15 000 000.00 | 14 720 190.75 | 0.83 |
| USD	JOHN DEERE CAPITAL CORP 1.50000% 21-06.03.28 | 22 700 000.00 | 22 413 199.57 | 1.26 |
| USD	MORGAN STANLEY-SUB 4.10000% 13-22.05.23 | 4 400 000.00 | 4 623 860.56 | 0.26 |
| USD	ROYAL BANK OF CANADA 2.55000% 19-16.07.24 | 3 200 000.00 | 3 333 432.32 | 0.19 |
| USD	ROYAL BANK OF CANADA 1.15000% 20-10.06.25 | 2 300 000.00 | 2 288 016.03 | 0.13 |
| USD	ROYAL BANK OF CANADA 2.30000% 21-03.11.31 | 4 000 000.00 | 3 990 239.20 | 0.22 |
| USD	TORONTO-DOMINION BANK 3.25000% 19-11.03.24 | 5 100 000.00 | 5 378 886.92 | 0.30 |
| Total USD |  | 75 427 848.30 | 4.23 |
| Total Medium term notes, fixed rate |  | 75 427 848.30 | 4.23 |
| Medium term notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 3.559%/VAR 19-23.04.27 | 5 679 000.00 | 6 105 004.17 | 0.34 |
| USD	BANK OF AMERICA CORP 3.194%/VAR 19-23.07.30 | 9 700 000.00 | 10 285 090.23 | 0.58 |
| USD	BANK OF AMERICA CORP 2.456%/VAR 19-22.10.25 | 3 200 000.00 | 3 309 318.27 | 0.18 |
| USD	BANK OF AMERICA CORP 2.884%/VAR 19-22.10.30 | 1 500 000.00 | 1 552 861.21 | 0.09 |
| USD	BANK OF AMERICA CORP 2.496%/3M LIBOR+99BP 20-13.02.31 | 8 000 000.00 | 8 033 285.04 | 0.45 |
| USD	MORGAN STANLEY 0.864%/VAR 20-21.10.25 | 3 200 000.00 | 3 166 760.48 | 0.18 |
| USD	MORGAN STANLEY 2.188%/VAR 20-28.04.26 | 13 000 000.00 | 13 305 623.24 | 0.74 |
| USD	MORGAN STANLEY 3.622%/VAR 20-01.04.31 | 3 600 000.00 | 3 932 432.50 | 0.22 |
| USD	MORGAN STANLEY 3.772%/VAR 18-24.01.29 | 14 300 000.00 | 15 706 295.32 | 0.88 |
| Total USD |  | 65 396 670.46 | 3.66 |
| Total Medium term notes, floating rate |  | 65 396 670.46 | 3.66 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	ALLSTATE CORP 3.28000% 16-15.12.26 | 2 067 000.00 | 2 237 254.70 | 0.13 |
| USD	CONSUMERS ENERGY CO 3.80000% 18-15.11.28 | 1 500 000.00 | 1 679 389.14 | 0.09 |
| USD	GOLDMAN SACHS GROUP INC/THE 3.85000% 17-26.01.27 | 6 500 000.00 | 7 039 731.72 | 0.39 |
| USD	MICROSOFT CORP 2.40000% 16-08.08.26 | 11 700 000.00 | 12 273 551.78 | 0.69 |
| USD	MIZUHO FINANCE GROUP CAYMAN 3-144A-SUB 4.60000% 14-27.03.24 | 5 300 000.00 | 5 683 464.70 | 0.32 |
| USD	NATIONAL RURAL UTILITIES COOP FIN CORP 3.90000% 18-01.11.28 | 2 000 000.00 | 2 237 976.54 | 0.13 |
| USD	NATL RURAL UTIL COOPERATIVE FIN CORP 3.70000% 19-15.03.29 | 5 000 000.00 | 5 577 108.25 | 0.31 |
| USD	NEXTERA ENERGY 2.75000% 20-01.05.25 | 11 700 000.00 | 12 275 406.00 | 0.69 |
| Total USD |  | 49 003 882.83 | 2.75 |
| Total Bonds, fixed rate |  | 49 003 882.83 | 2.75 |
| Bonds, floating rate |  |  |  |
| USD |  |  |  |
| USD	BP CAPITAL MARKETS PLC-SUB 4.375%/VAR 20-PRP | 5 000 000.00 | 5 301 000.00 | 0.30 |
| USD	GOLDMAN SACHS GROUP INC 4.223%/VAR 18-01.05.29 | 6 800 000.00 | 7 615 128.18 | 0.42 |
| USD	WESTPAC BANKING CORP-SUB 4.322%/VAR 16-23.11.31 | 3 407 000.00 | 3 708 643.17 | 0.21 |
| Total USD |  | 16 624 771.35 | 0.93 |
| Total Bonds, floating rate |  | 16 624 771.35 | 0.93 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 1 238 647 102.55 | 69.39 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AKER BP ASA-144A 3.00000% 20-15.01.25 | 1 500 000.00 | 1 563 216.05 | 0.09 |
| USD	ALCON FINANCE CORP-144A 2.60000% 20-27.05.30 | 3 900 000.00 | 3 975 490.43 | 0.22 |
| USD	AVOLON HOLDINGS FUNDING LTD-144A 4.25000% 20-15.04.26 | 6 500 000.00 | 6 963 125.00 | 0.39 |
| USD	BRANCH BANKING & TRUST CO-SUB 3.62500% 15-16.09.25 | 3 200 000.00 | 3 460 482.30 | 0.19 |
| USD	BRISTOL-MYERS SQUIBB CO 3.87500% 20-15.08.25 | 2 343 000.00 | 2 562 515.91 | 0.14 |
| USD	BROADCOM INC 4.25000% 20-15.04.26 | 5 000 000.00 | 5 498 713.75 | 0.31 |

Focused SICAV – US Corporate Bond Sustainable USD
Annual report and audited financial statements as of 31 October 2021
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | CARRIER GLOBAL CORP 2.70000% 20-15.02.31 | 6 000 000.00 | 6 125 084.58 | 0.34 |
| USD | CHENIERE CORPUS CHRISTI HLDGS LLC 3.70000% 20-15.11.29 | 5 000 000.00 | 5 364 631.85 | 0.30 |
| USD | DELL INTERNATIONAL LLC / EMC CORP 5.45000% 21-15.06.23 | 8 100 000.00 | 8 625 615.24 | 0.48 |
| USD | DELL INTERNATIONAL LLC / EMC CORP 4.00000% 21-15.07.24 | 6 500 000.00 | 6 964 611.55 | 0.39 |
| USD | DELL INTERNATIONAL LLC / EMC CORP 5.30000% 21-01.10.29 | 3 900 000.00 | 4 691 115.00 | 0.26 |
| USD | DELTA AIR LINES INC-144A 7.00000% 20-01.05.25 | 8 000 000.00 | 9 335 606.88 | 0.52 |
| USD | DEUTSCHE TELEKOM INTL FINANCE BV-144A 3.60000% 17-19.01.27 | 2 300 000.00 | 2 492 272.41 | 0.14 |
| USD | EXPEDIA GROUP INC 2.95000% 21-15.03.31 | 13 000 000.00 | 13 114 044.45 | 0.73 |
| USD | FIVE CORNERS FUNDING TRUST II -144A 2.85000% 20-15.05.30 | 2 600 000.00 | 2 691 584.79 | 0.15 |
| USD | GRAPHIC PACKAGING INTERNATIONL INC-144A 3.50000% 20-15.03.28 | 5 081 000.00 | 5 119 107.50 | 0.29 |
| USD | HARLEY-DAVIDSON FIN.SERV INC-144A 3.35000% 18-15.02.23 | 5 200 000.00 | 5 347 201.03 | 0.30 |
| USD | INTESA SANPAOLO SPA-144A 3.37500% 18-12.01.23 | 3 100 000.00 | 3 192 068.97 | 0.18 |
| USD | LAMB WESTON HOLDINGS INC-144A 4.62500% 16-01.11.24 | 7 500 000.00 | 7 683 000.00 | 0.43 |
| USD | LEVEL 3 FINANCING INC-144A 3.40000% 19-01.03.27 | 3 722 000.00 | 3 880 147.82 | 0.22 |
| USD | LEVEL 3 FINANCING INC-144A 3.87500% 19-15.11.29 | 6 561 000.00 | 6 889 246.83 | 0.39 |
| USD | LITHIA MOTORS INC-144A 4.62500% 19-15.12.27 | 3 000 000.00 | 3 171 735.30 | 0.18 |
| USD | LUNDIN ENERGY FINANCE BV-144A 2.00000% 21-15.07.26 | 5 000 000.00 | 4 982 056.85 | 0.28 |
| USD | MACQUARIE BANK LTD-144A-SUB 3.62400% 20-03.06.30 | 5 000 000.00 | 5 214 026.50 | 0.29 |
| USD | METROPOLITAN LIFE GLOBAL FUNDING-144A 3.45000% 16-18.12.26 | 2 395 000.00 | 2 600 807.28 | 0.15 |
| USD | NOVA CHEMICALS CORP-144A 4.87500% 17-01.06.24 | 2 000 000.00 | 2 081 500.00 | 0.12 |
| USD | NXP BV / NXP FDNG LLC / NXP USA-144A 3.87500% 19-18.06.26 | 4 677 000.00 | 5 095 063.65 | 0.29 |
| USD | NXP BV / NXP FDNG LLC / NXP USA-144A 3.15000% 20-01.05.27 | 2 000 000.00 | 2 111 918.60 | 0.12 |
| USD | NXP BV / NXP FUNDING LLC-144A 5.55000% 18-01.12.28 | 2 000 000.00 | 2 414 810.90 | 0.14 |
| USD | NXP BV / NXP FUNDING LLC-144A 4.87500% 18-01.03.24 | 2 700 000.00 | 2 918 884.01 | 0.16 |
| USD | ONCOR ELECTRIC DELIVERY CO 3.70000% 19-15.11.28 | 2 345 000.00 | 2 616 973.46 | 0.15 |
| USD | PENSKE TRUCK LEASING/PTL FIN CORP-144A 1.20000% 20-15.11.25 | 11 000 000.00 | 10 797 395.40 | 0.60 |
| USD | SIEMENS FINANCIERINGSMAATSCH NV-144A 2.35000% 16-15.10.26 | 5 520 000.00 | 5 714 852.24 | 0.32 |
| USD | SIEMENS FINANCIERINGSMAATSCH NV-144A 1.20000% 21-11.03.26 | 6 500 000.00 | 6 434 115.16 | 0.36 |
| USD | SYDNEY AIRPORT FINANCE CO PTY LTD-144A 3.90000% 12-22.03.23 | 10 489 000.00 | 10 904 887.80 | 0.61 |
| USD | TECK RESOURCES LTD 3.90000% 20-15.07.30 | 11 000 000.00 | 11 931 797.56 | 0.67 |
| USD | TENNESSEE GAS PIPELINE CO LLC-144A 2.90000% 20-01.03.30 | 6 900 000.00 | 7 025 432.14 | 0.39 |
| USD | TRI POINTE HOLDINGS INC 5.87500% 15-15.06.24 | 7 500 000.00 | 8 308 125.00 | 0.47 |
| USD | TRITON CONTAINER INTERNATIONAL LTD-144A 2.05000% 21-15.04.26 | 7 000 000.00 | 6 981 100.00 | 0.39 |
| USD | UNITED AIRLINES INC-144A 4.37500% 21-15.04.26 | 4 000 000.00 | 4 137 880.00 | 0.23 |
| USD | VICI PROPERTIES LP /VCI NTE CO INC-144A 3.75000% 20-15.02.27 | 5 000 000.00 | 5 137 500.00 | 0.29 |
| Total USD |  |  | 226 119 744.19 | 12.67 |
| Total Notes, fixed rate |  | 226 119 744.19 | 12.67 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BNP PARIBAS-144A 3.052%/VAR 20-13.01.31 | 4 500 000.00 | 4 679 747.51 | 0.26 |
| USD	SVENSKA HANDELSBANKEN AB-REG-S 1.418%/ VAR 21-11.06.27 | 10 000 000.00 | 9 850 912.60 | 0.55 |
| Total USD |  | 14 530 660.11 | 0.81 |
| Total Notes, floating rate |  | 14 530 660.11 | 0.81 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	CREDIT AGRICOLE SA LONDON-144A 4.12500% 17-10.01.27 | 6 500 000.00 | 7 187 864.65 | 0.40 |
| USD	NATIONAL AUSTRALIA BANK LTD-144A-SUB 2.33200% 20-21.08.30 | 7 380 000.00 | 7 064 228.25 | 0.40 |
| USD	SOCIETE GENERALE SA-144A 2.62500% 20-22.01.25 | 5 800 000.00 | 5 977 928.80 | 0.33 |
| Total USD |  | 20 230 021.70 | 1.13 |
| Total Medium term notes, fixed rate |  | 20 230 021.70 | 1.13 |
| Medium term notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	AUSTRALIA & NEWZEALAND BKG-144A-SUB 2.950%/VAR 20-22.07.30 | 9 700 000.00 | 9 993 466.71 | 0.56 |
| USD	COMMONWEALTH BANK AUSRALIA-144A-SUB 3.610%/VAR 19-12.09.34 | 3 200 000.00 | 3 348 215.04 | 0.19 |
| USD	COOPERATIEVE RABOBANK UA-144A 1.339%/VAR 20-24.06.26 | 5 500 000.00 | 5 463 663.10 | 0.30 |
| USD	NATIONAL AUSTRALIA BANK LTD-144A-SUB 3.933%/VAR 19-02.08.34 | 3 811 000.00 | 4 069 813.28 | 0.23 |
| USD	TRUIST FINANCIAL CORP 1.887%/VAR 21-07.06.29 | 5 000 000.00 | 4 947 033.65 | 0.28 |
| Total USD |  | 27 822 191.78 | 1.56 |
| Total Medium term notes, floating rate |  | 27 822 191.78 | 1.56 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	BMW US CAPITAL LLC-144A 3.45000% 18-12.04.23 | 3 200 000.00 | 3 329 656.32 | 0.18 |
| USD	DNB BANK ASA-144A 1.12700% 20-16.09.26 | 6 500 000.00 | 6 397 022.00 | 0.36 |
| USD	METLIFE INC 4.36800% 13-15.09.23 | 5 149 000.00 | 5 489 868.39 | 0.31 |
| USD	PRINCIPAL LIFE GLOBAL FUNDING II-144A 2.25000% 19-21.11.24 | 5 175 000.00 | 5 341 902.80 | 0.30 |
| USD	SOUTHERN CALIFORNIA EDISON CO 3.50000% 13-01.10.23 | 8 015 000.00 | 8 380 069.31 | 0.47 |
| Total USD |  | 28 938 518.82 | 1.62 |
| Total Bonds, fixed rate |  | 28 938 518.82 | 1.62 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 317 641 136.60 | 17.79 |

Focused SICAV – US Corporate Bond Sustainable USD Annual report and audited financial statements as of 31 October 2021
| 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 not listed on an official stock exchange and not traded on another regulated market
Notes, fixed rate
| USD |  |
| --- | --- |
| USD | AERCAP IRELAND CAPITAL DAC / AERCAP 1.65000% 21-29.10.24 | 3 000 000.00 | 3 006 761.52 | 0.17 |
| USD | AVOLON HOLDINGS FUNDING LTD-144A 2.75000% 21-21.02.28 | 4 000 000.00 | 3 945 000.00 | 0.22 |
| USD | BERRY GLOBAL INC 0.95000% 21-15.02.24 | 9 700 000.00 | 9 634 719.00 | 0.54 |
| USD | BERRY GLOBAL INC 1.65000% 21-15.01.27 | 6 350 000.00 | 6 211 443.00 | 0.35 |
| USD | CHENIERE ENERGY INC 4.62500% 21-15.10.28 | 5 000 000.00 | 5 243 500.00 | 0.30 |
| USD | EXELON CORP 4.05000% 20-15.04.30 | 7 322 000.00 | 8 242 435.95 | 0.46 |
| USD | GE CAPITAL FUNDING LLC 3.45000% 21-15.05.25 | 3 000 000.00 | 3 208 707.69 | 0.18 |
| USD | GE CAPITAL FUNDING LLC 4.05000% 21-15.05.27 | 7 100 000.00 | 7 910 504.90 | 0.44 |
| USD | MATTEL INC-144A 3.75000% 21-01.04.29 | 5 200 000.00 | 5 401 760.00 | 0.30 |
| Total USD |  |  | 52 804 832.06 | 2.96 |
| Total Notes, fixed rate |  | 52 804 832.06 | 2.96 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	SAN DIEGO GAS & ELECTRIC 1.70000% 20-01.10.30 | 5 000 000.00 | 4 779 874.55 | 0.27 |
| Total USD |  | 4 779 874.55 | 0.27 |
| Total Bonds, fixed rate |  | 4 779 874.55 | 0.27 |
| Total Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market |  | 57 584 706.61 | 3.23 |
| Recently issued transferable securities and money market instruments |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AUSTRALIA & NEW ZEALAND BANK-144A-SUB 2.57000% 20-25.11.35 | 3 200 000.00 | 3 084 273.09 | 0.17 |
| USD	LITHIA MOTORS INC-144A 3.87500% 21-01.06.29 | 5 000 000.00 | 5 181 250.00 | 0.29 |
| USD	LUNDIN ENERGY FINANCE BV-144A 3.10000% 21-15.07.31 | 5 000 000.00 | 5 038 849.10 | 0.28 |
| USD	MICROCHIP TECHNOLOGY INC-144A 0.98300% 21-01.09.24 | 12 200 000.00 | 12 074 464.08 | 0.68 |
| USD	NESTLE HOLDINGS INC-144A 1.50000% 21-14.09.28 | 14 000 000.00 | 13 699 836.50 | 0.77 |
| USD	NGPL PIPECO LLC-144A 3.25000% 21-15.07.31 | 5 000 000.00 | 5 088 908.60 | 0.29 |
| USD	ROCHE HOLDINGS INC-144A 0.45000% 21-05.03.24 | 5 000 000.00 | 4 966 194.25 | 0.28 |
| USD	SQUARE INC-144A 2.75000% 21-01.06.26 | 7 500 000.00 | 7 582 458.00 | 0.42 |
| USD	TRITON CONTAINER INTERNATIONAL LTD-144A 1.15000% 21-07.06.24 | 8 800 000.00 | 8 727 400.00 | 0.49 |
| Total USD |  | 65 443 633.62 | 3.67 |
| Total Notes, fixed rate |  | 65 443 633.62 | 3.67 |
| Total Recently issued transferable securities and money market instruments |  | 65 443 633.62 | 3.67 |
| Total investments in securities |  | 1 679 316 579.38 | 94.08 |
| Derivative instruments |  |  |  |
| Derivative instruments listed on an official stock exchange |  |  |  |
| Financial Futures on bonds |  |  |  |
|  |  |  |  |
| USD	US 10YR TREASURY NOTE FUTURE 21.12.21 | 100.00 | -21 875.00 | 0.00 |
| USD	US 5YR TREASURY NOTE FUTURE 31.12.21 | 75.00 | -47 460.97 | 0.00 |
| Total Financial Futures on bonds |  | -69 335.97 | 0.00 |
| Total Derivative instruments listed on an official stock exchange |  | -69 335.97 | 0.00 |
| Total Derivative instruments |  | -69 335.97 | 0.00 |
| Forward Foreign Exchange contracts |  |  |  |
| Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date |  |  |  |

| JPY | 1 086 160 200.00 | USD | 9 557 854.28 | 29.11.2021 | -30 504.70 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| GBP | 274 310 200.00 | USD | 377 121 114.34 | 29.11.2021 | -1 103 916.13 | -0.06 |
| EUR | 324 477 800.00 | USD | 377 215 825.79 | 29.11.2021 | -1 523 217.77 | -0.09 |
| CHF | 383 986 300.00 | USD | 418 128 590.02 | 29.11.2021 | 2 387 831.12 | 0.13 |
| GBP | 3 356 000.00 | USD | 4 632 628.11 | 29.11.2021 | -32 311.69 | 0.00 |
| JPY | 17 741 800.00 | USD | 156 530.01 | 29.11.2021 | -906.25 | 0.00 |
| JPY | 17 753 800.00 | USD | 155 726.39 | 29.11.2021 | 2.63 | 0.00 |
| Total Forward Foreign Exchange contracts | -303 022.79 | -0.02 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 80 614 990.79 | 4.52 |
| Other assets and liabilities | 25 479 536.73 | 1.42 |
| Total net assets | 1 785 038 748.14 | 100.00 |

Focused SICAV – US Corporate Bond Sustainable USD
Annual report and audited financial statements as of 31 October 2021

Translation (ENDE, 2021-10-31):
# Focused SICAV – US Corporate Bond Sustainable USD
| Dreijahresvergleich |  |
| --- | --- |
| Datum | ISIN | 31.10.2021 | 31.10.2020 | 31.10.2019 |
| Nettovermögen in USD |  | 1 785 038 748.14 | 2 151 129 465.23 | 627 370 969.98 |
| Klasse F-acc | LU1484152423 |  |  |  |
| Aktien im Umlauf |  | 4 697 522.9170 | 5 969 794.6770 | 2 038 153.1940 |
| Nettoinventarwert pro Aktie in USD |  | 121.27 | 120.59 | 112.41 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 121.27 | 120.59 | 112.41 |
| Klasse (CHF hedged) F-acc | LU1484152696 |  |  |  |
| Aktien im Umlauf |  | 3 501 074.3920 | 4 669 765.8500 | 1 898 644.9080 |
| Nettoinventarwert pro Aktie in CHF |  | 107.55 | 108.15 | 103.06 |
| Ausgabe- und Rücknahmepreis pro Aktie in CHF 1 |  | 107.55 | 108.15 | 103.06 |
| Klasse (EUR hedged) F-acc | LU1484153157 |  |  |  |
| Aktien im Umlauf |  | 2 988 611.4050 | 3 718 106.0590 | 1 370 281.7660 |
| Nettoinventarwert pro Aktie in EUR |  | 111.68 | 111.96 | 106.37 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 1 |  | 111.68 | 111.96 | 106.37 |
| Klasse (GBP hedged) F-acc | LU1865229824 |  |  |  |
| Aktien im Umlauf |  | 426 548.7680 | 378 965.6090 | 63 326.8020 |
| Nettoinventarwert pro Aktie in GBP |  | 115.17 | 114.82 | 108.45 |
| Ausgabe- und Rücknahmepreis pro Aktie in GBP 1 |  | 115.17 | 114.82 | 108.45 |
| Klasse (JPY hedged) F-acc 2 | LU2288920767 |  |  |  |
| Aktien im Umlauf |  | 115 407.0000 | - | - |
| Nettoinventarwert pro Aktie in JPY |  | 9 895 | - | - |
| Ausgabe- und Rücknahmepreis pro Aktie in JPY 1 |  | 9 895 | - | - |
| Klasse (GBP hedged) F-dist 3 | LU2127528359 |  |  |  |
| Aktien im Umlauf |  | 2 295 385.5000 | 2 157 685.5000 | - |
| Nettoinventarwert pro Aktie in GBP |  | 102.13 | 103.04 | - |
| Ausgabe- und Rücknahmepreis pro Aktie in GBP 1 |  | 102.13 | 103.04 | - |
| Klasse (CHF hedged) F-UKdist | LU1490621650 |  |  |  |
| Aktien im Umlauf |  | 175 213.0000 | 479 950.0000 | 290 510.0000 |
| Nettoinventarwert pro Aktie in CHF |  | 95.53 | 98.45 | 96.73 |
| Ausgabe- und Rücknahmepreis pro Aktie in CHF 1 |  | 95.53 | 98.45 | 96.73 |
| 1  Siehe Erläuterung 1 2  Erste NAV 14.9.2021 3  Erste NAV 4.5.2020 |  |  |  |  |
| Performance |  |  |  |  |
|  | Währung | 2020/2021 | 2019/2020 | 2018/2019 |
| Klasse F-acc | USD | 0.6% | 7.3% | 10.5% |
| Klasse (CHF hedged) F-acc | CHF | -0.6% | 4.9% | 6.8% |
| Klasse (EUR hedged) F-acc | EUR | -0.3% | 5.3% | 7.3% |
| Klasse (GBP hedged) F-acc | GBP | 0.3% | 5.9% | 8.6% |
| Klasse (JPY hedged) F-acc 1 | JPY | - | - | - |
| Klasse (GBP hedged) F-dist | GBP | 0.3% | - | - |
| Klasse (CHF hedged) F-UKdist | CHF | -0.5% | 4.9% | 6.8% |
| Benchmark: 2 |  |  |  |  |
| Bloomberg Barclays US Corporate Intermediate Index (TR) | USD | 0.7% | 6.2% | 10.8% |
| Bloomberg Barclays US Corporate Intermediate Index (TR) (CHF hedged) | CHF | -0.5% | 4.1% | 6.9% |
| Bloomberg Barclays US Corporate Intermediate Index (TR) (EUR hedged) | EUR | -0.2% | 4.5% | 7.4% |
| Bloomberg Barclays US Corporate Intermediate Index (TR) (GBP hedged) | GBP | 0.5% | 5.2% | 8.7% |
| Bloomberg Barclays US Corporate Intermediate Index (TR) (JPY hedged) | JPY | - | - | - |
| 1  Auf Grund der Neulancierung liegen keine Daten für die Berechnung der Performance vor. |  |  |  |  |

2 
Der Subfonds wird aktiv verwaltet. Der Index ist ein Bezugspunkt, an dem die Wertentwicklung des Subfonds gemessen werden kann. Die historische Performance stellt keinen Indikator für die laufende oder zukünftige Performance dar.
Die Performancedaten lassen die bei der Ausgabe und Rücknahme der Aktien erhobenen Kommissionen und Kosten unberücksichtigt. Die Performancedaten sind ungeprüft.
Focused SICAV – US Corporate Bond Sustainable USD Jahresbericht und geprüfter Jahresabschluss per 31. Oktober 2021

## Bericht des Portfolio Managers
Im Rechnungsjahr vom 1. November 2020 bis zum
31. Oktober 2021 stiegen die Renditen von US- Treasuries – vor allem zu Beginn des Jahres 2021, da sich die gesamtwirtschaftliche Lage verbesserte und die Erwartungen an fiskalpolitische Impulse stiegen. Die US- Notenbank hielt ihren Leitzins, die Fed Funds Rate, auf einem sehr tiefen Niveau, begann jedoch, eine mögliche Drosselung der Wertpapierkäufe gegen Ende des Beri- chtszeitraums zu signalisieren. Die Risikoprämien von US-Investment-Grade-Unternehmensanleihen beende- ten den Zeitraum tiefer, da sich die Spreads kontinui- erlich verengten, bevor sie sich nahe den historischen Talsohlen einpendelten. Anleger nutzten die steigen- den Renditen von US-Treasuries als Einstiegspunkt. Unternehmensanleihen waren daher im Grossteil des Berichtszeitraums stark gefragt und verzeichneten positive Nettozuflüsse.
Der Subfonds erzielte im Rechnungsjahr eine positive Wertentwicklung. Die wichtigsten Faktoren für die Wer- tentwicklung waren Zinserträge und die Verengung der Kreditrisikoprämien während des Berichtszeitraums. Sie glichen den Effekt der steigenden US-Treasury-Renditen mehr als aus. Der Subfonds verfolgt einen diversifi- zierten Ansatz und investiert in ein breites Spektrum von Branchen und Emittenten. Die optionsbereinigte Dura- tion des Subfonds entwickelte sich im Laufe des Jahres analog zum Markt und lag am Ende des Rechnungsjahres mit 4.5 Jahren etwas unter dem Niveau des Vorjahres. Das Spreadmanagement trug positiv zur Wertentwick- lung des Subfonds bei, da sowohl die Sektorallokation als auch die Titelauswahl vorteilhaft waren.

## Struktur des Wertpapierbestandes
Geographische Aufteilung in % des Nettovermögens	
Vereinigte Staaten	69.19
| Grossbritannien | 6.93 |
| --- | --- |
| Kanada | 3.29 |
| Australien | 3.02 |
| Niederlande | 2.69 |
| Irland | 2.12 |
| Japan | 1.66 |
| Frankreich | 1.00 |
| Cayman-Inseln | 0.93 |
| Bermuda | 0.88 |
| Italien | 0.63 |
| Schweden | 0.55 |
| Norwegen | 0.45 |
| Schweiz | 0.36 |
| Finnland | 0.19 |
| Guernsey | 0.19 |
| Total | 94.08 |

Wirtschaftliche Aufteilung in % des Nettovermögens	
| Banken & Kreditinstitute | 25.60 |
| --- | --- |
| Finanz- & Beteiligungsgesellschaften | 17.28 |
| Internet, Software & IT-Dienste | 5.44 |
| Telekommunikation | 5.24 |
| Energie- & Wasserversorgung | 4.69 |
| Pharmazeutik, Kosmetik & medizinische Produkte | 3.96 |
| Computer & Netzwerkausrüster | 3.62 |
| Verkehr & Transport | 3.49 |
| Elektronik & Halbleiter | 2.89 |
| Detailhandel, Warenhäuser | 2.12 |
| Baugewerbe & Baumaterial | 1.93 |
| Gesundheits- & Sozialwesen | 1.84 |
| Versicherungen | 1.54 |
| Maschinen & Apparate | 1.53 |
| Immobilien | 1.52 |
| Diverse Konsumgüter | 1.52 |
| Fahrzeuge | 1.14 |
| Bergbau, Kohle & Stahl | 1.02 |
| Nahrungsmittel & Softdrinks | 0.95 |
| Diverse Handelsfirmen | 0.90 |
| Grafisches Gewerbe, Verlage & Medien | 0.87 |
| Landwirtschaft & Fischerei | 0.82 |
| Elektrische Geräte & Komponenten | 0.75 |
| Erdöl | 0.67 |
| Pfandbriefinstitute & Refinanzierungsgesellschaften | 0.62 |
| Biotechnologie | 0.54 |
| Nichteisenmetalle | 0.44 |
| Diverse Dienstleistungen | 0.42 |
| Textilien, Kleidung & Lederwaren | 0.36 |
| Verpackungsindustrie | 0.25 |
| Chemie | 0.12 |
| Total | 94.08 |

Focused SICAV – US Corporate Bond Sustainable USD Jahresbericht und geprüfter Jahresabschluss per 31. Oktober 2021

## Nettovermögensaufstellung
Aktiva	31.10.2021
USD
Wertpapierbestand, Einstandswert	1 681 862 266.59
| Wertpapierbestand, nicht realisierte Werterhöhung (-minderung) | 	-2 545 687.21	 |
| --- | --- |
| Total Wertpapierbestand (Erläuterung 1) | 1 679 316 579.38 |
| Bankguthaben, Sicht- und Fristgelder | 80 331 842.04 |
| Andere liquide Mittel (Margins) | 283 148.75 |
| Forderungen aus Wertpapierverkäufen (Erläuterung 1) | 5 781 328.71 |
| Forderungen aus Zeichnungen | 7 902 737.54 |
| Zinsforderungen aus Wertpapieren | 12 810 662.89 |
| Total Aktiva | 1 786 426 299.31 |
|  |  |
| Passiva |  |
| Nicht realisierter Kursverlust aus Finanzterminkontrakten (Erläuterung 1) | -69 335.97 |
| Nicht realisierter Kursverlust aus Devisenterminkontrakten (Erläuterung 1) | -303 022.79 |
| Verbindlichkeiten aus Rücknahmen | -777 670.93 |
| Rückstellungen für pauschale Verwaltungskommission (Erläuterung 2) | -167 758.98 |
| Rückstellungen für Abonnementsabgabe (Erläuterung 3) | -14 066.88 |
| Rückstellungen für sonstige Kommissionen und Gebühren (Erläuterung 2) | 	-55 695.62	 |
| Total Rückstellungen für Aufwendungen | -237 521.48 |
| Total Passiva | -1 387 551.17 |
|  |  |
| Nettovermögen am Ende des Geschäftsjahres | 1 785 038 748.14 |
| Ertrags- und Aufwandsrechnung | USD |
| Erträge | 1.11.2020-31.10.2021 |
| Zinsen auf Wertpapiere | 81 131 073.72 |
| Nettoerträge aus Securities Lending | 182 770.21 |
| Sonstige Erträge (Erläuterung 4) | 4 385 047.05 |
| Total Erträge | 85 698 890.98 |
|  |  |
| Aufwendungen |  |
| Pauschale Verwaltungskommission (Erläuterung 2) | -7 626 389.11 |
| Abonnementsabgabe (Erläuterung 3) | -283 162.67 |
| Sonstige Kommissionen und Gebühren (Erläuterung 2) | -185 928.02 |
| Zinsaufwand auf liquide Mittel und Kontokorrentkredit | -173 138.16 |
| Total Aufwendungen | -8 268 617.96 |
|  |  |
| Nettoerträge (-verluste) aus Anlagen | 77 430 273.02 |
|  |  |
| Realisierte Gewinne (Verluste) (Erläuterung 1) |  |
| Realisierter Kursgewinn (-verlust) aus marktbewerteten Wertpapieren ausser Optionen | 30 196 056.53 |
| Realisierter Kursgewinn (-verlust) aus Finanzterminkontrakten | 1 512 286.08 |
| Realisierter Kursgewinn (-verlust) aus Devisenterminkontrakten | -46 498 240.70 |
| Realisierter Währungsgewinn (-verlust) | 15 906 953.91 |
| Total der realisierten Gewinne (Verluste) | 1 117 055.82 |
|  |  |
| Realisierter Nettogewinn (-verlust) des Geschäftsjahres | 78 547 328.84 |
|  |  |
| Veränderungen der nicht realisierten Werterhöhung (-minderung) (Erläuterung 1) |  |
| Nicht realisierte Werterhöhung (-minderung) marktbewerteter Wertpapiere ausser Optionen | -76 115 522.41 |
| Nicht realisierte Werterhöhung (-minderung) von Finanzterminkontrakten | -528 710.97 |
| Nicht realisierte Werterhöhung (-minderung) von Devisenterminkontrakten | 19 924 247.17 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | -56 719 986.21 |
|  |  |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | 21 827 342.63 |

Focused SICAV – US Corporate Bond Sustainable USD Jahresbericht und geprüfter Jahresabschluss per 31. Oktober 2021
| Veränderung des Nettovermögens |  |
| --- | --- |
|  |  | USD |
|  |  | 1.11.2020-31.10.2021 |
| Nettovermögen zu Beginn des Geschäftsjahres |  | 2 151 129 465.23 |
| Zeichnungen |  | 2 401 879 871.78 |
| Rücknahmen |  | 	-2 784 752 741.32	 |
| Total Mittelzufluss (-abfluss) |  | -382 872 869.54 |
| Ausbezahlte Dividende |  | -5 045 190.18 |
| Nettoerträge (-verluste) aus Anlagen |  | 77 430 273.02 |
| Total der realisierten Gewinne (Verluste) |  | 1 117 055.82 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) |  | 	-56 719 986.21	 |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit |  | 21 827 342.63 |
| Nettovermögen am Ende des Geschäftsjahres |  | 1 785 038 748.14 |
| Entwicklung der Aktien im Umlauf |  |  |
|  |  | 1.11.2020-31.10.2021 |
| Klasse |  | F-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres |  | 5 969 794.6770 |
| Anzahl der ausgegebenen Aktien |  | 8 192 177.8500 |
| Anzahl der zurückgegebenen Aktien |  | -9 464 449.6100 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres |  | 4 697 522.9170 |
| Klasse |  | (CHF hedged) F-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres |  | 4 669 765.8500 |
| Anzahl der ausgegebenen Aktien |  | 4 245 910.5100 |
| Anzahl der zurückgegebenen Aktien |  | -5 414 601.9680 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres |  | 3 501 074.3920 |
| Klasse |  | (EUR hedged) F-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres |  | 3 718 106.0590 |
| Anzahl der ausgegebenen Aktien |  | 5 140 630.3540 |
| Anzahl der zurückgegebenen Aktien |  | -5 870 125.0080 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres |  | 2 988 611.4050 |
| Klasse |  | (GBP hedged) F-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres |  | 378 965.6090 |
| Anzahl der ausgegebenen Aktien |  | 863 384.1590 |
| Anzahl der zurückgegebenen Aktien |  | -815 801.0000 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres |  | 426 548.7680 |
| Klasse |  | (JPY hedged) F-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres |  | 0.0000 |
| Anzahl der ausgegebenen Aktien |  | 129 107.0000 |
| Anzahl der zurückgegebenen Aktien |  | -13 700.0000 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres |  | 115 407.0000 |
| Klasse |  | (GBP hedged) F-dist |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres |  | 2 157 685.5000 |
| Anzahl der ausgegebenen Aktien |  | 333 228.0000 |
| Anzahl der zurückgegebenen Aktien |  | -195 528.0000 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres |  | 2 295 385.5000 |
| Klasse |  | (CHF hedged) F-UKdist |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres |  | 479 950.0000 |
| Anzahl der ausgegebenen Aktien |  | 104 349.0000 |
| Anzahl der zurückgegebenen Aktien |  | -409 086.0000 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres |  | 175 213.0000 |
| Jährliche Ausschüttung 1 |  |  |
| Focused SICAV – US Corporate Bond Sustainable USD	Ex-Date | Pay-Date | Währung	Betrag pro Aktie |
| (GBP hedged) F-dist	4.1.2021 | 7.1.2021 | GBP	1.24 |
| (CHF hedged) F-UKdist	16.11.2020 | 17.11.2020 | CHF	2.43 |
| 1  Siehe Erläuterung 5 |  |  |

Focused SICAV – US Corporate Bond Sustainable USD Jahresbericht und geprüfter Jahresabschluss per 31. Oktober 2021

## Aufstellung der Wertpapierbestände und anderer Nettovermögenswerte per 31. Oktober 2021
| 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 | 3 200 000.00 | 3 291 943.91 | 0.18 |
| USD	ABBOTT LABORATORIES 3.75000% 16-30.11.26 | 3 749 000.00 | 4 150 711.47 | 0.23 |
| USD	ABBVIE INC 2.60000% 20-21.11.24 | 3 200 000.00 | 3 331 972.60 | 0.19 |
| USD	ABBVIE INC 2.95000% 20-21.11.26 | 3 829 000.00 | 4 047 757.36 | 0.23 |
| USD	ABBVIE INC 3.20000% 16-14.05.26 | 4 500 000.00 | 4 797 196.02 | 0.27 |
| USD	ABBVIE INC 3.20000% 20-21.11.29 | 3 200 000.00 | 3 419 615.30 | 0.19 |
| USD	ADOBE INC 2.30000% 20-01.02.30 | 6 500 000.00 | 6 663 439.90 | 0.37 |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 3.50000% 17-26.05.22 | 2 500 000.00 | 2 534 998.78 | 0.14 |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 4.12500% 18-03.07.23 | 3 200 000.00 | 3 364 374.47 | 0.19 |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 4.50000% 20-15.09.23 | 3 770 000.00 | 3 997 668.60 | 0.22 |
| USD	AERCAP IRELAND CAP/ GLBL AVIATION TRUST 6.50000% 20-15.07.25 | 5 350 000.00 | 6 199 279.49 | 0.35 |
| USD	AERCAP IRELAND CAPITAL DAC / AERCAP GLO 2.45000% 21-29.10.26 | 6 000 000.00 | 6 056 335.38 | 0.34 |
| USD	AERCAP IRELAND CAPITAL DAC / AERCAP GLO 3.00000% 21-29.10.28 | 3 000 000.00 | 3 041 792.04 | 0.17 |
| USD	AIR LEASE CORP 3.25000% 18-01.03.25 | 6 500 000.00 | 6 811 715.11 | 0.38 |
| USD	AIR LEASE CORP 3.87500% 18-03.07.23 | 6 941 000.00 | 7 257 934.46 | 0.41 |
| USD	ALLY FINANCIAL INC 5.12500% 14-30.09.24 | 2 878 000.00 | 3 196 958.30 | 0.18 |
| USD	ALLY FINANCIAL INC 5.80000% 20-01.05.25 | 3 000 000.00 | 3 418 440.54 | 0.19 |
| USD	ALPHABET INC 0.45000% 20-15.08.25 | 3 200 000.00 | 3 135 712.99 | 0.18 |
| USD	ALPHABET INC 0.80000% 20-15.08.27 | 9 700 000.00 | 9 298 706.83 | 0.52 |
| USD	AMERICAN EXPRESS CO 3.00000% 17-30.10.24 | 3 200 000.00 | 3 383 706.02 | 0.19 |
| USD	AMERICAN INTERNATIONAL GROUP INC 4.25000% 19-15.03.29 | 2 400 000.00 | 2 731 395.21 | 0.15 |
| USD	AMGEN INC 2.20000% 20-21.02.27 | 4 500 000.00 | 4 589 809.38 | 0.26 |
| USD	APPLE INC 1.12500% 20-11.05.25 | 4 500 000.00 | 4 498 081.25 | 0.25 |
| USD	APPLE INC 1.20000% 21-08.02.28 | 3 200 000.00 | 3 100 394.50 | 0.17 |
| USD	APPLE INC 1.65000% 21-08.02.31 | 3 200 000.00 | 3 099 434.40 | 0.17 |
| USD	APPLE INC 1.80000% 19-11.09.24 | 3 200 000.00 | 3 281 192.00 | 0.18 |
| USD	APPLE INC 2.05000% 19-11.09.26 | 8 400 000.00 | 8 645 409.95 | 0.48 |
| USD	ASHTEAD CAPITAL INC-144A 4.25000% 19-01.11.29 | 9 225 000.00 | 9 995 634.73 | 0.56 |
| USD	ASHTEAD CAPITAL INC-144A 1.50000% 21-12.08.26 | 3 600 000.00 | 3 532 554.76 | 0.20 |
| USD	ASTRAZENECA PLC 3.37500% 15-16.11.25 | 3 310 000.00 | 3 582 499.45 | 0.20 |
| USD	AT&T INC 2.75000% 20-01.06.31 | 7 800 000.00 | 7 934 394.86 | 0.44 |
| USD	AT&T INC 4.25000% 17-01.03.27 | 2 600 000.00 | 2 902 331.87 | 0.16 |
| USD	AT&T INC 4.30000% 18-15.02.30 | 3 900 000.00 | 4 428 704.78 | 0.25 |
| USD	AVOLON HOLDINGS FUNDING LTD-144A 5.12500% 18-01.10.23 | 3 200 000.00 | 3 411 815.52 | 0.19 |
| USD	BARCLAYS PLC 3.68400% 17-10.01.23 | 2 700 000.00 | 2 715 938.21 | 0.15 |
| USD	BP CAPITAL MARKETS AMERICA INC 4.23400% 18-06.11.28 | 3 000 000.00 | 3 421 586.76 | 0.19 |
| USD	BP CAPITAL MARKETS PLC 3.21600% 18-28.11.23 | 3 574 000.00 | 3 742 376.93 | 0.21 |
| USD	BRISTOL-MYERS SQUIBB CO 2.90000% 20-26.07.24 | 4 476 000.00 | 4 711 407.66 | 0.26 |
| USD	BROADCOM INC 5.00000% 20-15.04.30 | 15 000 000.00 | 17 405 490.60 | 0.98 |
| USD	CAPITAL ONE FINANCIAL CORP 3.30000% 17-30.10.24 | 3 900 000.00 | 4 143 747.46 | 0.23 |
| USD	CENTENE CORP 3.00000% 20-15.10.30 | 10 000 000.00 | 10 163 800.00 | 0.57 |
| USD	CENTERPOINT ENERGY INC 4.25000% 18-01.11.28 | 3 000 000.00 | 3 393 502.71 | 0.19 |
| USD	CENTURYLINK INC 6.75000% 13-01.12.23 | 7 500 000.00 | 8 231 325.00 | 0.46 |
| USD	CIGNA CORP 2.37500% 21-15.03.31 | 5 000 000.00 | 5 011 198.20 | 0.28 |
| USD	CIGNA CORP 2.40000% 20-15.03.30 | 3 600 000.00 | 3 636 487.19 | 0.20 |
| USD	CIGNA CORP 4.12500% 19-15.11.25 | 4 500 000.00 | 4 949 593.16 | 0.28 |
| USD	CIT GROUP INC 5.00000% 13-01.08.23 | 5 000 000.00 | 5 306 250.00 | 0.30 |
| USD	CITIGROUP INC-SUB 4.45000% 15-29.09.27 | 3 050 000.00 | 3 427 441.00 | 0.19 |
| USD	CMS ENERGY CORP 2.95000% 16-15.02.27 | 2 000 000.00 | 2 092 715.44 | 0.12 |
| USD	COCA-COLA CO/THE 1.45000% 20-01.06.27 | 3 200 000.00 | 3 185 540.03 | 0.18 |
| USD	COMCAST CORP 3.95000% 18-15.10.25 | 7 736 000.00 | 8 500 292.89 | 0.48 |
| USD	COMCAST CORP 4.15000% 18-15.10.28 | 3 200 000.00 | 3 651 496.87 | 0.20 |
| USD	CREDIT SUISSE GROUP AG 3.75000% 16-26.03.25 | 3 200 000.00 | 3 425 086.18 | 0.19 |
| USD	CVS HEALTH CORP 1.30000% 20-21.08.27 | 4 500 000.00 | 4 362 060.96 | 0.24 |
| USD	CVS HEALTH CORP 2.87500% 16-01.06.26 | 2 721 000.00 | 2 863 865.86 | 0.16 |
| USD	CVS HEALTH CORP 4.30000% 18-25.03.28 | 2 366 000.00 | 2 678 687.79 | 0.15 |
| USD	DISCOVERY COMMUNICATIONS LLC 3.62500% 20-15.05.30 | 3 200 000.00 | 3 442 729.76 | 0.19 |
| USD	DUPONT DE NEMOURS INC 4.20500% 18-15.11.23 | 6 500 000.00 | 6 929 102.96 | 0.39 |
| USD	EBAY INC 2.60000% 21-10.05.31 | 13 300 000.00 | 13 453 848.68 | 0.75 |
| USD	ENBRIDGE INC 3.12500% 19-15.11.29 | 6 830 000.00 | 7 227 923.38 | 0.41 |
| USD	EPR PROPERTIES 4.95000% 18-15.04.28 | 8 250 000.00 | 9 032 880.70 | 0.51 |
| USD	EQT CORP 3.90000% 17-01.10.27 | 5 000 000.00 | 5 337 500.00 | 0.30 |
| USD	EQUINIX INC 1.80000% 20-15.07.27 | 3 400 000.00 | 3 377 344.47 | 0.19 |
| USD	EQUINIX INC 2.62500% 19-18.11.24 | 7 800 000.00 | 8 102 097.35 | 0.45 |
| USD	EQUINIX INC 3.20000% 19-18.11.29 | 2 515 000.00 | 2 649 472.07 | 0.15 |
| USD	ESTEE LAUDER COS INC 2.60000% 20-15.04.30 | 3 950 000.00 | 4 125 195.38 | 0.23 |
| USD	FISERV INC 2.25000% 20-01.06.27 | 6 500 000.00 | 6 609 726.89 | 0.37 |
| USD	FISERV INC 3.50000% 19-01.07.29 | 3 200 000.00 | 3 453 941.44 | 0.19 |
| USD	FLOWSERVE CORP 3.50000% 20-01.10.30 | 5 600 000.00 | 5 861 718.92 | 0.33 |
| USD	FORD MOTOR CREDIT CO 3.37500% 20-13.11.25 | 3 200 000.00 | 3 288 000.00 | 0.18 |
| USD	GENERAL MOTORS CO 6.80000% 20-01.10.27 | 9 700 000.00 | 11 956 874.75 | 0.67 |
| USD	GENERAL MOTORS FINANCIAL CO INC 3.50000% 17-07.11.24 | 6 500 000.00 | 6 896 400.10 | 0.39 |
| USD	GENERAL MOTORS FINANCIAL CO 3.85000% 18-05.01.28 | 2 430 000.00 | 2 636 889.98 | 0.15 |
| USD	GENERAL MOTORS FINANCIAL CO 4.35000% 18-09.04.25 | 3 200 000.00 | 3 482 027.36 | 0.20 |
| USD	GENERAL MOTORS FINANCIAL CO INC 2.70000% 20-20.08.27 | 3 200 000.00 | 3 266 744.74 | 0.18 |
| USD	GOLDMAN SACHS GROUP INC 3.80000% 20-15.03.30 | 9 700 000.00 | 10 740 570.22 | 0.60 |
| USD	GOLDMAN SACHS GROUP INC/THE 3.50000% 16-16.11.26 | 3 900 000.00 | 4 178 658.08 | 0.23 |
| USD	HCA INC 4.75000% 12-01.05.23 | 2 900 000.00 | 3 065 063.36 | 0.17 |
| USD	HCA INC 5.00000% 14-15.03.24 | 8 400 000.00 | 9 142 263.65 | 0.51 |
| USD	HCA INC 5.25000% 16-15.06.26 | 4 500 000.00 | 5 102 859.69 | 0.29 |
| USD	HOME DEPOT INC 2.70000% 20-15.04.30 | 5 700 000.00 | 6 005 471.61 | 0.34 |
| USD	HOME DEPOT INC/THE 1.50000% 21-15.09.28 | 7 500 000.00 | 7 361 952.82 | 0.41 |
| USD	INTERNATIONAL BUSINESS MACHINES CORP 3.50000% 19-15.05.29 | 3 200 000.00 | 3 506 312.67 | 0.20 |
| USD	JOHNSON & JOHNSON 0.95000% 20-01.09.27 | 10 000 000.00 | 9 685 063.50 | 0.54 |
| USD	JOHNSON CONTROLS INTERNATIONAL PLC 2.00000% 21-16.09.31 | 6 500 000.00 | 6 290 316.11 | 0.35 |
| USD	JPMORGAN CHASE & CO 3.20000% 16-15.06.26 | 3 434 000.00 | 3 664 761.95 | 0.21 |
| USD	KB HOME 7.62500% 15-15.05.23 | 7 500 000.00 | 7 968 750.00 | 0.45 |
| USD	KENNAMETAL INC 2.80000% 21-01.03.31 | 5 000 000.00 | 5 011 072.30 | 0.28 |

Focused SICAV – US Corporate Bond Sustainable USD Jahresbericht und geprüfter Jahresabschluss per 31. Oktober 2021
|  | Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
|  |  |  |  |  |
| USD | KINROSS GOLD CORP 5.95000% 14-15.03.24 | 7 100 000.00 | 7 793 310.67 | 0.44 |
| USD | LENNAR CORP 4.75000% 18-29.11.27 | 5 800 000.00 | 6 592 567.97 | 0.37 |
| USD | LLOYDS BANKING GROUP PLC 4.45000% 18-08.05.25 | 4 900 000.00 | 5 391 627.09 | 0.30 |
| USD | LOWE’S COS INC 1.30000% 20-15.04.28 | 4 129 000.00 | 3 973 563.34 | 0.22 |
| USD | LOWE’S COS INC 4.50000% 20-15.04.30 | 3 200 000.00 | 3 730 825.02 | 0.21 |
| USD | LSEGA FINANCING PLC-144A 2.00000% 21-06.04.28 | 7 000 000.00 | 6 964 565.86 | 0.39 |
| USD | LSEGA FINANCING PLC-144A 2.50000% 21-06.04.31 | 5 000 000.00 | 5 047 174.45 | 0.28 |
| USD | MARTIN MARIETTA MATERIALS INC 0.65000% 21-15.07.23 | 9 600 000.00 | 9 597 995.62 | 0.54 |
| USD | MASCO CORP 1.50000% 21-15.02.28 | 4 500 000.00 | 4 337 872.87 | 0.24 |
| USD | MASCO CORP 2.00000% 20-01.10.30 | 3 800 000.00 | 3 635 640.01 | 0.20 |
| USD | MASTERCARD INC 2.00000% 19-03.03.25 | 3 600 000.00 | 3 704 702.22 | 0.21 |
| USD | MERCK & CO INC 1.45000% 20-24.06.30 | 4 400 000.00 | 4 228 529.49 | 0.24 |
| USD | MITSUBISHI UFJ FINANCIAL GRP INC 2.19300% 20-25.02.25 | 3 200 000.00 | 3 282 980.80 | 0.18 |
| USD | MORGAN STANLEY 3.62500% 17-20.01.27 | 2 600 000.00 | 2 825 781.82 | 0.16 |
| USD | NATIONWIDE BUILDING SOCIETY-144A 0.55000% 21-22.01.24 | 5 200 000.00 | 5 149 905.96 | 0.29 |
| USD | NATWEST GROUP PLC 3.87500% 16-12.09.23 | 6 580 000.00 | 6 935 049.50 | 0.39 |
| USD | NATWEST GROUP PLC-SUB 6.00000% 13-19.12.23 | 7 074 000.00 | 7 784 269.64 | 0.44 |
| USD | NATWEST GROUP PLC-SUB 6.12500% 12-15.12.22 | 4 198 000.00 | 4 446 694.72 | 0.25 |
| USD | NETFLIX INC 4.87500% 18-15.04.28 | 7 500 000.00 | 8 592 150.00 | 0.48 |
| USD | NEWELL BRANDS INC 3.85000% 16-01.04.23 | 10 000 000.00 | 10 414 400.00 | 0.58 |
| USD | NEXTERA ENERGY 1.90000% 21-15.06.28 | 5 000 000.00 | 4 942 346.15 | 0.28 |
| USD | NIKE INC 2.85000% 20-27.03.30 | 6 000 000.00 | 6 427 327.68 | 0.36 |
| USD | NOKIA OYJ 4.37500% 17-12.06.27 | 3 200 000.00 | 3 440 000.00 | 0.19 |
| USD | NUCOR CORP 2.00000% 20-01.06.25 | 3 200 000.00 | 3 266 554.15 | 0.18 |
| USD | NVIDIA CORP 2.85000% 20-01.04.30 | 5 200 000.00 | 5 524 366.95 | 0.31 |
| USD | ORACLE CORP 2.30000% 21-25.03.28 | 4 500 000.00 | 4 567 724.91 | 0.26 |
| USD | ORACLE CORP 2.50000% 20-01.04.25 | 5 800 000.00 | 6 014 349.50 | 0.34 |
| USD | ORACLE CORP 2.87500% 21-25.03.31 | 4 500 000.00 | 4 616 584.70 | 0.26 |
| USD | ORACLE CORP 3.25000% 17-15.11.27 | 4 200 000.00 | 4 488 584.90 | 0.25 |
| USD | PAYPAL HOLDINGS INC 2.30000% 20-01.06.30 | 2 600 000.00 | 2 646 047.93 | 0.15 |
| USD | PFIZER INC 0.80000% 20-28.05.25 | 5 800 000.00 | 5 740 677.43 | 0.32 |
| USD | PRINCIPAL FINANCIAL GROUP 3.10000% 16-15.11.26 | 3 200 000.00 | 3 407 848.13 | 0.19 |
| USD | QUALCOMM INC 3.25000% 17-20.05.27 | 3 200 000.00 | 3 463 894.24 | 0.19 |
| USD | QUANTA SERVICES INC 2.90000% 20-01.10.30 | 10 750 000.00 | 11 103 919.67 | 0.62 |
| USD | RABOBANK NEDERLAND NV-SUB 3.75000% 16-21.07.26 | 4 900 000.00 | 5 327 530.59 | 0.30 |
| USD | ROPER TECHNOLOGIES INC 1.00000% 20-15.09.25 | 2 900 000.00 | 2 853 606.36 | 0.16 |
| USD | SABINE PASS LIQUEFACTION LLC 5.75000% 14-15.05.24 | 3 500 000.00 | 3 853 406.55 | 0.22 |
| USD | SABINE PASS LIQUEFACTION LLC 5.87500% 17-30.06.26 | 3 000 000.00 | 3 481 880.58 | 0.20 |
| USD | SALESFORCE.COM INC 1.50000% 21-15.07.28 | 11 000 000.00 | 10 828 364.03 | 0.61 |
| USD | SEALED AIR CORP-144A 5.12500% 14-01.12.24 | 4 165 000.00 | 4 487 787.50 | 0.25 |
| USD | SEMPRA ENERGY 3.25000% 17-15.06.27 | 5 050 000.00 | 5 379 937.76 | 0.30 |
| USD | SEMPRA ENERGY 3.55000% 14-15.06.24 | 9 717 000.00 | 10 266 095.33 | 0.58 |
| USD | SOUTHWEST AIRLINES CO 2.62500% 20-10.02.30 | 2 800 000.00 | 2 828 216.44 | 0.16 |
| USD | SOUTHWEST AIRLINES CO 4.75000% 20-04.05.23 | 4 804 000.00 | 5 083 571.91 | 0.28 |
| USD | SOUTHWEST AIRLINES CO 5.25000% 20-04.05.25 | 3 200 000.00 | 3 587 541.98 | 0.20 |
| USD | STEEL DYNAMICS INC 2.40000% 20-15.06.25 | 3 000 000.00 | 3 091 113.96 | 0.17 |
| USD | SUMITOMO MITSUI FIN GP INC 2.44800% 19-27.09.24 | 6 500 000.00 | 6 714 384.95 | 0.38 |
| USD | SUMITOMO MITSUI FIN GP INC 2.34800% 20-15.01.25 | 3 200 000.00 | 3 296 188.80 | 0.18 |
| USD | SUMITOMO MITSUI FINANCIAL GROUP INC 0.94800% 21-12.01.26 | 3 200 000.00 | 3 108 098.56 | 0.17 |
| USD | T-MOBILE USA INC 2.25000% 21-15.02.26 | 10 000 000.00 | 10 050 000.00 | 0.56 |
| USD | TARGET CORP 2.25000% 20-15.04.25 | 3 200 000.00 | 3 319 512.80 | 0.19 |
| USD | TELECOM ITALIA SPA-144A 5.30300% 14-30.05.24 | 7 500 000.00 | 7 987 500.00 | 0.45 |
| USD | TEXAS INSTRUMENTS INC 1.12500% 21-15.09.26 | 3 500 000.00 | 3 472 779.94 | 0.19 |
| USD | TEXAS INSTRUMENTS INC 1.90000% 21-15.09.31 | 4 000 000.00 | 3 942 904.20 | 0.22 |
| USD | THERMO FISHER SCIENTIFIC INC 2.95000% 16-19.09.26 | 3 825 000.00 | 4 072 914.62 | 0.23 |
| USD | THERMO FISHER SCIENTIFIC INC 1.21500% 21-18.10.24 | 6 000 000.00 | 6 006 480.90 | 0.34 |
| USD | TOLL BROTHERS FINANCE CORP 4.37500% 13-15.04.23 | 2 000 000.00 | 2 065 000.00 | 0.12 |
| USD | UNITED RENTALS NORTH AMERICA INC 4.00000% 20-15.07.30 | 5 200 000.00 | 5 305 508.00 | 0.30 |
| USD | UNITEDHEALTH GROUP INC 3.70000% 18-15.12.25 | 2 600 000.00 | 2 850 588.15 | 0.16 |
| USD | UNITEDHEALTH GROUP INC 2.87500% 19-15.08.29 | 2 340 000.00 | 2 487 103.33 | 0.14 |
| USD | VERIZON COMMUNICATIONS INC 2.62500% 16-15.08.26 | 9 900 000.00 | 10 379 373.44 | 0.58 |
| USD | VERIZON COMMUNICATIONS INC 4.32900% 18-21.09.28 | 2 521 000.00 | 2 877 738.52 | 0.16 |
| USD | VERIZON COMMUNICATIONS INC 4.01600% 19-03.12.29 | 2 000 000.00 | 2 241 374.60 | 0.13 |
| USD | VERIZON COMMUNICATIONS INC 2.10000% 21-22.03.28 | 3 200 000.00 | 3 208 863.20 | 0.18 |
| USD | VERIZON COMMUNICATIONS INC 2.55000% 21-21.03.31 | 6 500 000.00 | 6 550 693.89 | 0.37 |
| USD | VMWARE INC 3.90000% 17-21.08.27 | 3 200 000.00 | 3 509 540.84 | 0.20 |
| USD | WALT DISNEY CO 1.75000% 19-30.08.24 | 3 200 000.00 | 3 275 117.53 | 0.18 |
| USD | WALT DISNEY CO 2.00000% 19-01.09.29 | 8 400 000.00 | 8 407 045.92 | 0.47 |
| USD | WESTPAC BANKING CORP 2.35000% 19-19.02.25 | 3 200 000.00 | 3 317 216.64 | 0.19 |
| USD | WEYERHAEUSER CO 4.00000% 20-15.04.30 | 3 500 000.00 | 3 926 564.53 | 0.22 |
| USD | ZOETIS INC 2.00000% 20-15.05.30 | 6 500 000.00 | 6 377 888.60 | 0.36 |
| Total USD |  |  | 824 906 606.36 | 46.21 |
| Total Notes, fester Zins |  | 824 906 606.36 | 46.21 |
| Notes, variabler Zins |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 3.366%/VAR 18-23.01.26 | 3 226 000.00 | 3 422 814.93 | 0.19 |
| USD	BANK OF AMERICA CORP 3.419%/VAR 18-20.12.28 | 7 800 000.00 | 8 340 066.46 | 0.47 |
| USD	BANK OF AMERICA CORP 3.550%/3M LIBOR+78BP 18-05.03.24 | 4 500 000.00 | 4 667 346.72 | 0.26 |
| USD	BANK OF AMERICA CORP 4.271%/VAR 18-23.07.29 | 3 600 000.00 | 4 048 606.04 | 0.23 |
| USD	BARCLAYS PLC 1.007%/VAR 20-10.12.24 | 9 700 000.00 | 9 699 764.09 | 0.54 |
| USD	BARCLAYS PLC 2.852%/VAR 20-07.05.26 | 5 500 000.00 | 5 722 689.39 | 0.32 |
| USD	BARCLAYS PLC 4.610%/VAR 18-15.02.23 | 5 273 000.00 | 5 333 574.65 | 0.30 |
| USD	CITIGROUP INC 1.122%/VAR 21-28.01.27 | 9 700 000.00 | 9 470 263.45 | 0.53 |
| USD	CITIGROUP INC 2.572%/VAR 20-03.06.31 | 5 800 000.00 | 5 847 833.29 | 0.33 |
| USD	CITIGROUP INC 2.666%/VAR 20-29.01.31 | 12 300 000.00 | 12 505 726.11 | 0.70 |
| USD	CITIGROUP INC 3.520%/VAR 17-27.10.28 | 4 500 000.00 | 4 834 314.27 | 0.27 |
| USD	CREDIT SUISSE GROUP AG -144A 1.305%/VAR 21-02.02.27 | 3 200 000.00 | 3 093 108.19 | 0.17 |
| USD	CREDIT SUISSE GROUP-144A 2.593%/VAR 19-11.09.25 | 3 200 000.00 | 3 290 578.91 | 0.18 |
| USD	GOLDMAN SACHS GROUP INC 3.272%/VAR 17-29.09.25 | 3 200 000.00 | 3 377 395.49 | 0.19 |
| USD	GOLDMAN SACHS GROUP INC/THE 1.431%/VAR 21-09.03.27 | 3 200 000.00 | 3 150 782.72 | 0.18 |
| USD	HSBC HOLDINGS PLC 2.633%/VAR 19-07.11.25 | 3 200 000.00 | 3 308 826.63 | 0.19 |
| USD	HSBC HOLDINGS PLC 2.099%/VAR 20-04.06.26 | 5 200 000.00 | 5 264 580.72 | 0.30 |
| USD	HSBC HOLDINGS PLC 3.033%/3M LIBOR+92.3BP 17-22.11.23 | 2 600 000.00 | 2 662 832.17 | 0.15 |
| USD	HSBC HOLDINGS PLC 3.950%/VAR 18-18.05.24 | 4 500 000.00 | 4 709 969.91 | 0.26 |
| USD	HSBC HOLDINGS PLC 3.803%/VAR 19-11.03.25 | 5 425 000.00 | 5 743 168.12 | 0.32 |

Focused SICAV – US Corporate Bond Sustainable USD Jahresbericht und geprüfter Jahresabschluss per 31. Oktober 2021
|  | Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- | --- |
|  |  | Nominal | NR Kursgewinn | Netto- |
|  |  |  | (-verlust) auf Futures/ | vermögens |
|  |  |  | Devisentermin- |  |
|  |  |  | kontrakten/ |  |
|  |  |  | Swaps (Erl. 1) |  |
|  |  |  |  |  |
| USD | JPMORGAN CHASE & CO 3.782%/VAR 17-01.02.28 | 4 200 000.00 | 4 577 768.58 | 0.26 |
| USD | JPMORGAN CHASE & CO 3.540%/VAR 17-01.05.28 | 2 686 000.00 | 2 900 988.28 | 0.16 |
| USD | JPMORGAN CHASE & CO 3.509%/3M LIBOR+94.5BP 18-23.01.29 | 3 200 000.00 | 3 455 335.39 | 0.19 |
| USD | JPMORGAN CHASE & CO 4.452%/3M LIBOR+133BP 18-05.12.29 | 2 357 000.00 | 2 689 383.97 | 0.15 |
| USD | JPMORGAN CHASE & CO 3.960%/3M LIBOR+124.5BP 19-29.01.27 | 2 600 000.00 | 2 833 037.82 | 0.16 |
| USD | JPMORGAN CHASE & CO 3.702%/VAR 19-06.05.30 | 6 500 000.00 | 7 102 885.60 | 0.40 |
| USD | JPMORGAN CHASE & CO 2.182%/VAR 20-01.06.28 | 5 800 000.00 | 5 835 280.99 | 0.33 |
| USD | JPMORGAN CHASE & CO 1.040%/VAR 21-04.02.27 | 17 900 000.00 | 17 387 980.89 | 0.97 |
| USD | JPMORGAN CHASE & CO-SUB 2.956%/VAR 20-13.05.31 | 7 500 000.00 | 7 742 580.60 | 0.43 |
| USD | LLOYDS BANKING GROUP PLC 2.907%/3M LIBOR+81BP 17-07.11.23 | 4 689 000.00 | 4 793 637.90 | 0.27 |
| USD | LLOYDS BANKING GROUP PLC 2.438%/VAR 20-05.02.26 | 2 613 000.00 | 2 688 698.68 | 0.15 |
| USD | LLOYDS BANKING GROUP PLC 3.870%/VAR 20-09.07.25 | 4 919 000.00 | 5 261 768.26 | 0.30 |
| USD | MITSUBISHI UFJ FINANCIAL GROUP INC 0.953%/ VAR 21-19.07.25 | 10 000 000.00 | 9 930 726.00 | 0.56 |
| USD | MIZUHO FINANCIAL GROUP INC VAR 20-10.07.24 | 3 200 000.00 | 3 220 044.48 | 0.18 |
| USD | NATIONWIDE BUIL SOC-144A 3.766%/3M LIBOR+106.4BP 18-08.03.24 | 6 030 000.00 | 6 259 226.35 | 0.35 |
| USD | VODAFONE GROUP PLC-SUB 3.250%/VAR 21-04.06.81 | 9 000 000.00 | 9 004 230.00 | 0.50 |
| USD | WESTPAC BANKING CORP-SUB 2.668%/VAR 20-15.11.35 | 3 200 000.00 | 3 109 507.20 | 0.17 |
| Total USD |  |  | 207 287 323.25 | 11.61 |
| Total Notes, variabler Zins |  | 207 287 323.25 | 11.61 |
| Medium-Term Notes, fester Zins |  |  |  |
| USD |  |  |  |
| USD	AIR LEASE CORP 3.00000% 20-01.02.30 | 2 000 000.00 | 2 022 810.16 | 0.11 |
| USD	BANK OF AMERICA CORP-SUB 4.45000% 16-03.03.26 | 5 800 000.00 | 6 427 966.40 | 0.36 |
| USD	BANK OF AMERICA CORP 3.50000% 16-19.04.26 | 5 800 000.00 | 6 263 050.83 | 0.35 |
| USD	BANK OF AMERICA CORP-SUB 4.18300% 16-25.11.27 | 3 600 000.00 | 3 966 195.56 | 0.22 |
| USD	BANK OF MONTREAL 1.25000% 21-15.09.26 | 15 000 000.00 | 14 720 190.75 | 0.83 |
| USD	JOHN DEERE CAPITAL CORP 1.50000% 21-06.03.28 | 22 700 000.00 | 22 413 199.57 | 1.26 |
| USD	MORGAN STANLEY-SUB 4.10000% 13-22.05.23 | 4 400 000.00 | 4 623 860.56 | 0.26 |
| USD	ROYAL BANK OF CANADA 2.55000% 19-16.07.24 | 3 200 000.00 | 3 333 432.32 | 0.19 |
| USD	ROYAL BANK OF CANADA 1.15000% 20-10.06.25 | 2 300 000.00 | 2 288 016.03 | 0.13 |
| USD	ROYAL BANK OF CANADA 2.30000% 21-03.11.31 | 4 000 000.00 | 3 990 239.20 | 0.22 |
| USD	TORONTO-DOMINION BANK 3.25000% 19-11.03.24 | 5 100 000.00 | 5 378 886.92 | 0.30 |
| Total USD |  | 75 427 848.30 | 4.23 |
| Total Medium-Term Notes, fester Zins |  | 75 427 848.30 | 4.23 |
| Medium-Term Notes, variabler Zins |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 3.559%/VAR 19-23.04.27 | 5 679 000.00 | 6 105 004.17 | 0.34 |
| USD	BANK OF AMERICA CORP 3.194%/VAR 19-23.07.30 | 9 700 000.00 | 10 285 090.23 | 0.58 |
| USD	BANK OF AMERICA CORP 2.456%/VAR 19-22.10.25 | 3 200 000.00 | 3 309 318.27 | 0.18 |
| USD	BANK OF AMERICA CORP 2.884%/VAR 19-22.10.30 | 1 500 000.00 | 1 552 861.21 | 0.09 |
| USD	BANK OF AMERICA CORP 2.496%/3M LIBOR+99BP 20-13.02.31 | 8 000 000.00 | 8 033 285.04 | 0.45 |
| USD	MORGAN STANLEY 0.864%/VAR 20-21.10.25 | 3 200 000.00 | 3 166 760.48 | 0.18 |
| USD	MORGAN STANLEY 2.188%/VAR 20-28.04.26 | 13 000 000.00 | 13 305 623.24 | 0.74 |
| USD	MORGAN STANLEY 3.622%/VAR 20-01.04.31 | 3 600 000.00 | 3 932 432.50 | 0.22 |
| USD	MORGAN STANLEY 3.772%/VAR 18-24.01.29 | 14 300 000.00 | 15 706 295.32 | 0.88 |
| Total USD |  | 65 396 670.46 | 3.66 |
| Total Medium-Term Notes, variabler Zins |  | 65 396 670.46 | 3.66 |
| Anleihen, fester Zins |  |  |  |
| USD |  |  |  |
| USD	ALLSTATE CORP 3.28000% 16-15.12.26 | 2 067 000.00 | 2 237 254.70 | 0.13 |
| USD	CONSUMERS ENERGY CO 3.80000% 18-15.11.28 | 1 500 000.00 | 1 679 389.14 | 0.09 |
| USD	GOLDMAN SACHS GROUP INC/THE 3.85000% 17-26.01.27 | 6 500 000.00 | 7 039 731.72 | 0.39 |
| USD	MICROSOFT CORP 2.40000% 16-08.08.26 | 11 700 000.00 | 12 273 551.78 | 0.69 |
| USD	MIZUHO FINANCE GROUP CAYMAN 3-144A-SUB 4.60000% 14-27.03.24 | 5 300 000.00 | 5 683 464.70 | 0.32 |
| USD	NATIONAL RURAL UTILITIES COOP FIN CORP 3.90000% 18-01.11.28 | 2 000 000.00 | 2 237 976.54 | 0.13 |
| USD	NATL RURAL UTIL COOPERATIVE FIN CORP 3.70000% 19-15.03.29 | 5 000 000.00 | 5 577 108.25 | 0.31 |
| USD	NEXTERA ENERGY 2.75000% 20-01.05.25 | 11 700 000.00 | 12 275 406.00 | 0.69 |
| Total USD |  | 49 003 882.83 | 2.75 |
| Total Anleihen, fester Zins |  | 49 003 882.83 | 2.75 |
| Anleihen, variabler Zins |  |  |  |
| USD |  |  |  |
| USD	BP CAPITAL MARKETS PLC-SUB 4.375%/VAR 20-PRP | 5 000 000.00 | 5 301 000.00 | 0.30 |
| USD	GOLDMAN SACHS GROUP INC 4.223%/VAR 18-01.05.29 | 6 800 000.00 | 7 615 128.18 | 0.42 |
| USD	WESTPAC BANKING CORP-SUB 4.322%/VAR 16-23.11.31 | 3 407 000.00 | 3 708 643.17 | 0.21 |
| Total USD |  | 16 624 771.35 | 0.93 |
| Total Anleihen, variabler Zins | 16 624 771.35 | 0.93 |
| Total Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden | 1 238 647 102.55 | 69.39 |
| Wertpapiere und Geldmarktinstrumente, die an einem anderen geregelten Markt gehandelt werden |  |  |
| Notes, fester Zins |  |  |
| USD |  |  |
| USD	AKER BP ASA-144A 3.00000% 20-15.01.25	1 500 000.00 | 1 563 216.05 | 0.09 |
| USD	ALCON FINANCE CORP-144A 2.60000% 20-27.05.30	3 900 000.00 | 3 975 490.43 | 0.22 |
| USD	AVOLON HOLDINGS FUNDING LTD-144A 4.25000% 20-15.04.26	6 500 000.00 | 6 963 125.00 | 0.39 |
| USD	BRANCH BANKING & TRUST CO-SUB 3.62500% 15-16.09.25	3 200 000.00 | 3 460 482.30 | 0.19 |
| USD	BRISTOL-MYERS SQUIBB CO 3.87500% 20-15.08.25	2 343 000.00 | 2 562 515.91 | 0.14 |
| USD	BROADCOM INC 4.25000% 20-15.04.26	5 000 000.00 | 5 498 713.75 | 0.31 |

Focused SICAV – US Corporate Bond Sustainable USD Jahresbericht und geprüfter Jahresabschluss per 31. Oktober 2021
|  | Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
|  |  |  |  |  |
| USD | CARRIER GLOBAL CORP 2.70000% 20-15.02.31 | 6 000 000.00 | 6 125 084.58 | 0.34 |
| USD | CHENIERE CORPUS CHRISTI HLDGS LLC 3.70000% 20-15.11.29 | 5 000 000.00 | 5 364 631.85 | 0.30 |
| USD | DELL INTERNATIONAL LLC / EMC CORP 5.45000% 21-15.06.23 | 8 100 000.00 | 8 625 615.24 | 0.48 |
| USD | DELL INTERNATIONAL LLC / EMC CORP 4.00000% 21-15.07.24 | 6 500 000.00 | 6 964 611.55 | 0.39 |
| USD | DELL INTERNATIONAL LLC / EMC CORP 5.30000% 21-01.10.29 | 3 900 000.00 | 4 691 115.00 | 0.26 |
| USD | DELTA AIR LINES INC-144A 7.00000% 20-01.05.25 | 8 000 000.00 | 9 335 606.88 | 0.52 |
| USD | DEUTSCHE TELEKOM INTL FINANCE BV-144A 3.60000% 17-19.01.27 | 2 300 000.00 | 2 492 272.41 | 0.14 |
| USD | EXPEDIA GROUP INC 2.95000% 21-15.03.31 | 13 000 000.00 | 13 114 044.45 | 0.73 |
| USD | FIVE CORNERS FUNDING TRUST II -144A 2.85000% 20-15.05.30 | 2 600 000.00 | 2 691 584.79 | 0.15 |
| USD | GRAPHIC PACKAGING INTERNATIONL INC-144A 3.50000% 20-15.03.28 | 5 081 000.00 | 5 119 107.50 | 0.29 |
| USD | HARLEY-DAVIDSON FIN.SERV INC-144A 3.35000% 18-15.02.23 | 5 200 000.00 | 5 347 201.03 | 0.30 |
| USD | INTESA SANPAOLO SPA-144A 3.37500% 18-12.01.23 | 3 100 000.00 | 3 192 068.97 | 0.18 |
| USD | LAMB WESTON HOLDINGS INC-144A 4.62500% 16-01.11.24 | 7 500 000.00 | 7 683 000.00 | 0.43 |
| USD | LEVEL 3 FINANCING INC-144A 3.40000% 19-01.03.27 | 3 722 000.00 | 3 880 147.82 | 0.22 |
| USD | LEVEL 3 FINANCING INC-144A 3.87500% 19-15.11.29 | 6 561 000.00 | 6 889 246.83 | 0.39 |
| USD | LITHIA MOTORS INC-144A 4.62500% 19-15.12.27 | 3 000 000.00 | 3 171 735.30 | 0.18 |
| USD | LUNDIN ENERGY FINANCE BV-144A 2.00000% 21-15.07.26 | 5 000 000.00 | 4 982 056.85 | 0.28 |
| USD | MACQUARIE BANK LTD-144A-SUB 3.62400% 20-03.06.30 | 5 000 000.00 | 5 214 026.50 | 0.29 |
| USD | METROPOLITAN LIFE GLOBAL FUNDING-144A 3.45000% 16-18.12.26 | 2 395 000.00 | 2 600 807.28 | 0.15 |
| USD | NOVA CHEMICALS CORP-144A 4.87500% 17-01.06.24 | 2 000 000.00 | 2 081 500.00 | 0.12 |
| USD | NXP BV / NXP FDNG LLC / NXP USA-144A 3.87500% 19-18.06.26 | 4 677 000.00 | 5 095 063.65 | 0.29 |
| USD | NXP BV / NXP FDNG LLC / NXP USA-144A 3.15000% 20-01.05.27 | 2 000 000.00 | 2 111 918.60 | 0.12 |
| USD | NXP BV / NXP FUNDING LLC-144A 5.55000% 18-01.12.28 | 2 000 000.00 | 2 414 810.90 | 0.14 |
| USD | NXP BV / NXP FUNDING LLC-144A 4.87500% 18-01.03.24 | 2 700 000.00 | 2 918 884.01 | 0.16 |
| USD | ONCOR ELECTRIC DELIVERY CO 3.70000% 19-15.11.28 | 2 345 000.00 | 2 616 973.46 | 0.15 |
| USD | PENSKE TRUCK LEASING/PTL FIN CORP-144A 1.20000% 20-15.11.25 | 11 000 000.00 | 10 797 395.40 | 0.60 |
| USD | SIEMENS FINANCIERINGSMAATSCH NV-144A 2.35000% 16-15.10.26 | 5 520 000.00 | 5 714 852.24 | 0.32 |
| USD | SIEMENS FINANCIERINGSMAATSCH NV-144A 1.20000% 21-11.03.26 | 6 500 000.00 | 6 434 115.16 | 0.36 |
| USD | SYDNEY AIRPORT FINANCE CO PTY LTD-144A 3.90000% 12-22.03.23 | 10 489 000.00 | 10 904 887.80 | 0.61 |
| USD | TECK RESOURCES LTD 3.90000% 20-15.07.30 | 11 000 000.00 | 11 931 797.56 | 0.67 |
| USD | TENNESSEE GAS PIPELINE CO LLC-144A 2.90000% 20-01.03.30 | 6 900 000.00 | 7 025 432.14 | 0.39 |
| USD | TRI POINTE HOLDINGS INC 5.87500% 15-15.06.24 | 7 500 000.00 | 8 308 125.00 | 0.47 |
| USD | TRITON CONTAINER INTERNATIONAL LTD-144A 2.05000% 21-15.04.26 | 7 000 000.00 | 6 981 100.00 | 0.39 |
| USD | UNITED AIRLINES INC-144A 4.37500% 21-15.04.26 | 4 000 000.00 | 4 137 880.00 | 0.23 |
| USD | VICI PROPERTIES LP /VCI NTE CO INC-144A 3.75000% 20-15.02.27 | 5 000 000.00 | 5 137 500.00 | 0.29 |
| Total USD |  |  | 226 119 744.19 | 12.67 |
| Total Notes, fester Zins |  | 226 119 744.19 | 12.67 |
| Notes, variabler Zins |  |  |  |
| USD |  |  |  |
| USD	BNP PARIBAS-144A 3.052%/VAR 20-13.01.31 | 4 500 000.00 | 4 679 747.51 | 0.26 |
| USD	SVENSKA HANDELSBANKEN AB-REG-S 1.418%/ VAR 21-11.06.27 | 10 000 000.00 | 9 850 912.60 | 0.55 |
| Total USD |  | 14 530 660.11 | 0.81 |
| Total Notes, variabler Zins |  | 14 530 660.11 | 0.81 |
| Medium-Term Notes, fester Zins |  |  |  |
| USD |  |  |  |
| USD	CREDIT AGRICOLE SA LONDON-144A 4.12500% 17-10.01.27 | 6 500 000.00 | 7 187 864.65 | 0.40 |
| USD	NATIONAL AUSTRALIA BANK LTD-144A-SUB 2.33200% 20-21.08.30 | 7 380 000.00 | 7 064 228.25 | 0.40 |
| USD	SOCIETE GENERALE SA-144A 2.62500% 20-22.01.25 | 5 800 000.00 | 5 977 928.80 | 0.33 |
| Total USD |  | 20 230 021.70 | 1.13 |
| Total Medium-Term Notes, fester Zins |  | 20 230 021.70 | 1.13 |
| Medium-Term Notes, variabler Zins |  |  |  |
| USD |  |  |  |
| USD	AUSTRALIA & NEWZEALAND BKG-144A-SUB 2.950%/VAR 20-22.07.30 | 9 700 000.00 | 9 993 466.71 | 0.56 |
| USD	COMMONWEALTH BANK AUSRALIA-144A-SUB 3.610%/VAR 19-12.09.34 | 3 200 000.00 | 3 348 215.04 | 0.19 |
| USD	COOPERATIEVE RABOBANK UA-144A 1.339%/VAR 20-24.06.26 | 5 500 000.00 | 5 463 663.10 | 0.30 |
| USD	NATIONAL AUSTRALIA BANK LTD-144A-SUB 3.933%/VAR 19-02.08.34 | 3 811 000.00 | 4 069 813.28 | 0.23 |
| USD	TRUIST FINANCIAL CORP 1.887%/VAR 21-07.06.29 | 5 000 000.00 | 4 947 033.65 | 0.28 |
| Total USD |  | 27 822 191.78 | 1.56 |
| Total Medium-Term Notes, variabler Zins |  | 27 822 191.78 | 1.56 |
| Anleihen, fester Zins |  |  |  |
| USD |  |  |  |
| USD	BMW US CAPITAL LLC-144A 3.45000% 18-12.04.23 | 3 200 000.00 | 3 329 656.32 | 0.18 |
| USD	DNB BANK ASA-144A 1.12700% 20-16.09.26 | 6 500 000.00 | 6 397 022.00 | 0.36 |
| USD	METLIFE INC 4.36800% 13-15.09.23 | 5 149 000.00 | 5 489 868.39 | 0.31 |
| USD	PRINCIPAL LIFE GLOBAL FUNDING II-144A 2.25000% 19-21.11.24 | 5 175 000.00 | 5 341 902.80 | 0.30 |
| USD	SOUTHERN CALIFORNIA EDISON CO 3.50000% 13-01.10.23 | 8 015 000.00 | 8 380 069.31 | 0.47 |
| Total USD |  | 28 938 518.82 | 1.62 |
| Total Anleihen, fester Zins |  | 28 938 518.82 | 1.62 |
| Total Wertpapiere und Geldmarktinstrumente, die an einem anderen geregelten Markt gehandelt werden |  | 317 641 136.60 | 17.79 |

Focused SICAV – US Corporate Bond Sustainable USD Jahresbericht und geprüfter Jahresabschluss per 31. Oktober 2021
| Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |

Wertpapiere und Geldmarktinstrumente, die nicht an einer offiziellen Börse oder einem anderen geregelten Markt gehandelt werden
Notes, fester Zins
| USD |  |
| --- | --- |
| USD | AERCAP IRELAND CAPITAL DAC / AERCAP 1.65000% 21-29.10.24 | 3 000 000.00 | 3 006 761.52 | 0.17 |
| USD | AVOLON HOLDINGS FUNDING LTD-144A 2.75000% 21-21.02.28 | 4 000 000.00 | 3 945 000.00 | 0.22 |
| USD | BERRY GLOBAL INC 0.95000% 21-15.02.24 | 9 700 000.00 | 9 634 719.00 | 0.54 |
| USD | BERRY GLOBAL INC 1.65000% 21-15.01.27 | 6 350 000.00 | 6 211 443.00 | 0.35 |
| USD | CHENIERE ENERGY INC 4.62500% 21-15.10.28 | 5 000 000.00 | 5 243 500.00 | 0.30 |
| USD | EXELON CORP 4.05000% 20-15.04.30 | 7 322 000.00 | 8 242 435.95 | 0.46 |
| USD | GE CAPITAL FUNDING LLC 3.45000% 21-15.05.25 | 3 000 000.00 | 3 208 707.69 | 0.18 |
| USD | GE CAPITAL FUNDING LLC 4.05000% 21-15.05.27 | 7 100 000.00 | 7 910 504.90 | 0.44 |
| USD | MATTEL INC-144A 3.75000% 21-01.04.29 | 5 200 000.00 | 5 401 760.00 | 0.30 |
| Total USD |  |  | 52 804 832.06 | 2.96 |
| Total Notes, fester Zins |  | 52 804 832.06 | 2.96 |
| Anleihen, fester Zins |  |  |  |
| USD |  |  |  |
| USD	SAN DIEGO GAS & ELECTRIC 1.70000% 20-01.10.30 | 5 000 000.00 | 4 779 874.55 | 0.27 |
| Total USD |  | 4 779 874.55 | 0.27 |
| Total Anleihen, fester Zins |  | 4 779 874.55 | 0.27 |
| Total Wertpapiere und Geldmarktinstrumente, die nicht an einer offiziellen Börse oder einem anderen geregelten Markt gehandelt werden |  | 57 584 706.61 | 3.23 |
| Neuemittierte Wertpapiere und Geldmarktinstrumente |  |  |  |
| Notes, fester Zins |  |  |  |
| USD |  |  |  |
| USD	AUSTRALIA & NEW ZEALAND BANK-144A-SUB 2.57000% 20-25.11.35 | 3 200 000.00 | 3 084 273.09 | 0.17 |
| USD	LITHIA MOTORS INC-144A 3.87500% 21-01.06.29 | 5 000 000.00 | 5 181 250.00 | 0.29 |
| USD	LUNDIN ENERGY FINANCE BV-144A 3.10000% 21-15.07.31 | 5 000 000.00 | 5 038 849.10 | 0.28 |
| USD	MICROCHIP TECHNOLOGY INC-144A 0.98300% 21-01.09.24 | 12 200 000.00 | 12 074 464.08 | 0.68 |
| USD	NESTLE HOLDINGS INC-144A 1.50000% 21-14.09.28 | 14 000 000.00 | 13 699 836.50 | 0.77 |
| USD	NGPL PIPECO LLC-144A 3.25000% 21-15.07.31 | 5 000 000.00 | 5 088 908.60 | 0.29 |
| USD	ROCHE HOLDINGS INC-144A 0.45000% 21-05.03.24 | 5 000 000.00 | 4 966 194.25 | 0.28 |
| USD	SQUARE INC-144A 2.75000% 21-01.06.26 | 7 500 000.00 | 7 582 458.00 | 0.42 |
| USD	TRITON CONTAINER INTERNATIONAL LTD-144A 1.15000% 21-07.06.24 | 8 800 000.00 | 8 727 400.00 | 0.49 |
| Total USD |  | 65 443 633.62 | 3.67 |
| Total Notes, fester Zins |  | 65 443 633.62 | 3.67 |
| Total Neuemittierte Wertpapiere und Geldmarktinstrumente |  | 65 443 633.62 | 3.67 |
| Total des Wertpapierbestandes |  | 1 679 316 579.38 | 94.08 |
| Derivative Instrumente |  |  |  |
| Derivative Instrumente, die an einer offiziellen Börse gehandelt werden |  |  |  |
| Finanzterminkontrakte auf Anleihen |  |  |  |
|  |  |  |  |
| USD	US 10YR TREASURY NOTE FUTURE 21.12.21 | 100.00 | -21 875.00 | 0.00 |
| USD	US 5YR TREASURY NOTE FUTURE 31.12.21 | 75.00 | -47 460.97 | 0.00 |
| Total Finanzterminkontrakte auf Anleihen |  | -69 335.97 | 0.00 |
| Total Derivative Instrumente, die an einer offiziellen Börse gehandelt werden |  | -69 335.97 | 0.00 |
| Total Derivative Instrumente |  | -69 335.97 | 0.00 |
| Devisenterminkontrakte |  |  |  |
| Gekaufte Währung/ Gekaufter Betrag/Verkaufte Währung/Verkaufter Betrag/Fälligkeitsdatum |  |  |  |

| JPY | 1 086 160 200.00 | USD | 9 557 854.28 | 29.11.2021 | -30 504.70 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| GBP | 274 310 200.00 | USD | 377 121 114.34 | 29.11.2021 | -1 103 916.13 | -0.06 |
| EUR | 324 477 800.00 | USD | 377 215 825.79 | 29.11.2021 | -1 523 217.77 | -0.09 |
| CHF | 383 986 300.00 | USD | 418 128 590.02 | 29.11.2021 | 2 387 831.12 | 0.13 |
| GBP | 3 356 000.00 | USD | 4 632 628.11 | 29.11.2021 | -32 311.69 | 0.00 |
| JPY | 17 741 800.00 | USD | 156 530.01 | 29.11.2021 | -906.25 | 0.00 |
| JPY | 17 753 800.00 | USD | 155 726.39 | 29.11.2021 | 2.63 | 0.00 |
| Total Devisenterminkontrakte | -303 022.79 | -0.02 |
|  |  |  |
| Bankguthaben, Sicht- und Fristgelder und andere liquide Mittel | 80 614 990.79 | 4.52 |
| Andere Aktiva und Passiva | 25 479 536.73 | 1.42 |
| Total des Nettovermögens | 1 785 038 748.14 | 100.00 |

Focused SICAV – US Corporate Bond Sustainable USD Jahresbericht und geprüfter Jahresabschluss per 31. Oktober 2021