|  | Fund | Index | Relative |  | Fund | Index | Relative |
| --- | --- | --- | --- | --- | --- | --- | --- |
| India | 23.5 | 22.8 | 0.7 | Emerging Markets | 88.0 | 99.1 | -11.1 |
| Korea (South) | 12.7 | 17.6 | -4.9 | Europe (ex-UK) | 4.2 | 0.6 | 3.5 |
| Taiwan | 12.3 | 21.8 | -9.6 | North America | 4.0 | 0.1 | 3.9 |
| Brazil | 8.8 | 7.8 | 1.0 | UK | 0.8 | 0.2 | 0.6 |
| Mexico | 7.6 | 3.7 | 3.9 | Total Regional Exposure | 96.9 | 100.0 |  |
| Indonesia | 5.4 | 2.6 | 2.9 | Other Index / Unclassified | 0.0 | 0.0 |  |
| Vietnam | 3.4 | 0.0 | 3.4 | Total Equity Exposure | 96.9 | 100.0 |  |
| United States | 3.0 | 0.1 | 2.9 |  |  |  |  |
| Hungary | 2.1 | 0.3 | 1.8 |  |  |  |  |
| Saudi Arabia | 2.1 | 5.6 | -3.6 |  |  |  |  |
| Others | 16.1 | 17.5 | -1.5 |  |  |  |  |
| Total Geographic Exposure | 96.9 | 100.0 |  |  |  |  |  |
| Other Index / Unclassified | 0.0 | 0.0 |  |  |  |  |  |
| Total Equity Exposure | 96.9 | 100.0 |  |  |  |  |  |
| Top Positions (% TNA)	 |
|  | Sector GICS | Geographic Location | Fund | Index | Relative |
| TAIWAN SEMICONDUCTOR MFG CO LTD | Information Technology | Taiwan | 9.0 | 9.2 | -0.2 |
| SAMSUNG ELECTRONICS CO LTD | Information Technology | Korea (South) | 8.2 | 6.4 | 1.8 |
| HDFC BANK LTD | Financials | India | 5.2 | 1.1 | 4.1 |
| MERCADOLIBRE INC | Consumer Discretionary | United States | 3.0 | 0.0 | 3.0 |
| AXIS BANK LTD | Financials | India | 2.9 | 0.6 | 2.3 |
| ICICI BANK LTD | Financials | India | 2.5 | 1.2 | 1.3 |
| SK HYNIX INC | Information Technology | Korea (South) | 2.5 | 1.2 | 1.3 |
| LOCALIZA RENT A CAR SA | Industrials | Brazil | 2.2 | 0.2 | 2.0 |
| NU HOLDINGS LTD/CAYMAN ISLANDS | Financials | Brazil | 2.2 | 0.0 | 2.2 |
| OTP BANK PLC | Financials | Hungary | 2.1 | 0.2 | 1.9 |
| Top Overweight Positions (% TNA)	Top Underweight Positions (% TNA)	 |
|  | Fund | Index | Relative |  | Fund | Index | Relative |
| HDFC BANK LTD | 5.2 | 1.1 | 4.1 | RELIANCE INDUSTRIES LTD | 0.0 | 1.8 | -1.8 |
| MERCADOLIBRE INC | 3.0 | 0.0 | 3.0 | VALE SA | 0.0 | 1.0 | -1.0 |
| AXIS BANK LTD | 2.9 | 0.6 | 2.3 | MEDIATEK INC | 0.0 | 1.0 | -1.0 |
| NU HOLDINGS LTD/CAYMAN ISLANDS | 2.2 | 0.0 | 2.2 | HON HAI PRECISION INDUSTRY CO LTD | 0.0 | 0.8 | -0.8 |
| MAKEMYTRIP LIMITED | 2.0 | 0.0 | 2.0 | TATA CONSULTANCY SERVICES LTD | 0.0 | 0.8 | -0.8 |
| LOCALIZA RENT A CAR SA | 2.2 | 0.2 | 2.0 | ITAU UNIBANCO HOLDING SA | 0.0 | 0.7 | -0.7 |
| BANK NEGARA INDO PT TBK | 2.0 | 0.1 | 1.9 | NASPERS LTD | 0.0 | 0.6 | -0.6 |
| OTP BANK PLC | 2.1 | 0.2 | 1.9 | THE SAUDI NATIONAL BANK | 0.0 | 0.6 | -0.6 |
| HOME FIRST FINANCE CO INDIA LTD | 1.8 | 0.0 | 1.8 | LARSEN & TOUBRO LTD | 0.0 | 0.5 | -0.5 |
| KASPI/KZ JSC | 1.8 | 0.0 | 1.8 | POSCO HOLDINGS INC | 0.0 | 0.5 | -0.5 |
| Positions Concentration (% TNA)	 |
|  | Fund | Index |
| Top 10 | 39.8 | 25.3 |
| Top 20 | 59.3 | 32.0 |
| Top 50 | 95.5 | 44.7 |
| Definition of terms: |  |  |  |  |  |  |  |  |

Translation (ENDE, 2023-12-31):
|  | Fonds | Index | Relativ |  | Fonds | Index | Relativ |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Indien | 23,5 | 22,8 | 0,7 | Schwellenländer | 88,0 | 99,1 | -11,1 |
| Südkorea | 12,7 | 17,6 | -4,9 | Europa (ohne GB) | 4,2 | 0,6 | 3,5 |
| Taiwan | 12,3 | 21,8 | -9,6 | Nordamerika | 4,0 | 0,1 | 3,9 |
| Brasilien | 8,8 | 7,8 | 1,0 | UK | 0,8 | 0,2 | 0,6 |
| Mexiko | 7,6 | 3,7 | 3,9 | Summe regionales Engagement | 96,9 | 100,0 |  |
| Indonesien | 5,4 | 2,6 | 2,9 | Anderer Index / Nicht klassifiziert | 0,0 | 0,0 |  |
| Vietnam | 3,4 | 0,0 | 3,4 | Summe Aktienengagement | 96,9 | 100,0 |  |
| USA | 3,0 | 0,1 | 2,9 |  |  |  |  |
| Ungarn | 2,1 | 0,3 | 1,8 |  |  |  |  |
| Saudi-Arabien | 2,1 | 5,6 | -3,6 |  |  |  |  |
| Sonstige | 16,1 | 17,5 | -1,5 |  |  |  |  |
| Geografisches Gesamtengagement | 96,9 | 100,0 |  |  |  |  |  |
| Anderer Index / Nicht klassifiziert | 0,0 | 0,0 |  |  |  |  |  |
| Summe Aktienengagement | 96,9 | 100,0 |  |  |  |  |  |
| Größte Positionen (% NIW Fonds)	 |
|  | Sektor GICS | Geografische Lage | Fonds | Index | Relativ |
| TAIWAN SEMICONDUCTOR MFG CO LTD | Informationstechnologie | Taiwan | 9,0 | 9,2 | -0,2 |
| SAMSUNG ELECTRONICS CO LTD | Informationstechnologie | Südkorea | 8,2 | 6,4 | 1,8 |
| HDFC BANK LTD | Finanzunternehmen | Indien | 5,2 | 1,1 | 4,1 |
| MERCADOLIBRE INC | Verbrauchsgüter | USA | 3,0 | 0,0 | 3,0 |
| AXIS BANK LTD | Finanzunternehmen | Indien | 2,9 | 0,6 | 2,3 |
| ICICI BANK LTD | Finanzunternehmen | Indien | 2,5 | 1,2 | 1,3 |
| SK HYNIX INC | Informationstechnologie | Südkorea | 2,5 | 1,2 | 1,3 |
| LOCALIZA RENT A CAR SA | Industrie | Brasilien | 2,2 | 0,2 | 2,0 |
| NU HOLDINGS LTD/CAYMAN ISLANDS | Finanzunternehmen | Brasilien | 2,2 | 0,0 | 2,2 |
| OTP BANK PLC | Finanzunternehmen | Ungarn | 2,1 | 0,2 | 1,9 |
| Größte übergewichtete Positionen (% NIW Fonds)	Größte untergewichtete Positionen (% NIW Fonds)	 |
|  | Fonds | Index | Relativ |  | Fonds | Index | Relativ |
| HDFC BANK LTD | 5,2 | 1,1 | 4,1 | RELIANCE INDUSTRIES LTD | 0,0 | 1,8 | -1,8 |
| MERCADOLIBRE INC | 3,0 | 0,0 | 3,0 | VALE SA | 0,0 | 1,0 | -1,0 |
| AXIS BANK LTD | 2,9 | 0,6 | 2,3 | MEDIATEK INC | 0,0 | 1,0 | -1,0 |
| NU HOLDINGS LTD/CAYMAN ISLANDS | 2,2 | 0,0 | 2,2 | HON HAI PRECISION INDUSTRY CO LTD | 0,0 | 0,8 | -0,8 |
| MAKEMYTRIP LIMITED | 2,0 | 0,0 | 2,0 | TATA CONSULTANCY SERVICES LTD | 0,0 | 0,8 | -0,8 |
| LOCALIZA RENT A CAR SA | 2,2 | 0,2 | 2,0 | ITAU UNIBANCO HOLDING SA | 0,0 | 0,7 | -0,7 |
| BANK NEGARA INDO PT TBK | 2,0 | 0,1 | 1,9 | NASPERS LTD | 0,0 | 0,6 | -0,6 |
| OTP BANK PLC | 2,1 | 0,2 | 1,9 | THE SAUDI NATIONAL BANK | 0,0 | 0,6 | -0,6 |
| HOME FIRST FINANCE CO INDIA LTD | 1,8 | 0,0 | 1,8 | LARSEN & TOUBRO LTD | 0,0 | 0,5 | -0,5 |
| KASPI/KZ JSC | 1,8 | 0,0 | 1,8 | POSCO HOLDINGS INC | 0,0 | 0,5 | -0,5 |
| Konzentration der Positionen (% NIW Fonds)	 |
|  | Fonds | Index |
| Top 10 | 39,8 | 25,3 |
| Top 20 | 59,3 | 32,0 |
| Top 50 | 95,5 | 44,7 |
| Definition der Begriffe: |  |  |  |  |  |  |  |  |