# DWS Invest Short Duration Income
DWS INVEST SHORT DURATION INCOME

### Performance of share classes vs. benchmark (in EUR)
| Share class | ISIN | 6 months |
| --- | --- | --- |
| Class LC | LU2220514363 | -5.4% |
| Class FC | LU2220514017 | -5.3% |
| Class FD | LU2220514108 | -5.3% |
| Class IC50 | LU2220514876 | -5.1% |
| Class ID50 | LU2220514280 | -5.1% |
| Class LD | LU2220514447 | -5.4% |
| Class NC | LU2220514520 | -5.6% |
| Class PFC | LU2220514793 | -5.2% |
| Class TFC | LU2220515097 | -5.3% |
| Class TFD | LU2220515170 | -5.3% |
| Class CHF ICH25 1 | LU2388561594 | -5.7% |
| Class USD FCH 2 | LU2220515253 | -4.7% |
| Class USD LCH 2 | LU2220515337 | -4.7% |
| Class USD TFCH 2 | LU2220515410 | -4.7% |


##### Barclays Global Aggregate 1-3Y TR (hedged in EUR)
1 
in CHF
2 
in USD
“BVI method” performance, i.e., excluding the initial sales charge.

##### -3.0%
Past performance is no guide to future results.	As of: June 30, 2022
The format used for complete dates
in security names in the investment
portfolio is “day/month/year”.
DWS Invest Short Duration Income
| Statement of net assets as of June 30, 2022 |  |
| --- | --- |
|  | Amount in EUR | % of net assets |
| I. Assets |  |  |
| 1. Bonds (issuers) Companies | 36 174 531.40 | 40.04 |
| Central governments | 53 190 174.21 | 58.94 |
| Regional governments | 742 718.31 | 0.82 |
| Total bonds | 90 107 423.92 | 99.80 |
| 2. Derivatives | -690 641.41 | -0.77 |
| 3. Cash at bank | 257 813.80 | 0.29 |
| 4. Other assets | 748 359.96 | 0.83 |
| II. Liabilities |  |  |
| 1. Other liabilities | -131 270.69 | -0.15 |
| III. Net assets | 90 291 685.58 | 100.00 |

Negligible rounding errors may have arisen due to the rounding of calculated percentages.
| Investment portfolio – June 30, 2022 |  |
| --- | --- |
|  | Count/ | Quantity/ | Purchases/ | Sales/ | Market price | Total market | % of |
| Security name | units/ currency | principal amount | additions in the | disposals reporting period |  | value in EUR | net assets |
| Securities traded on an exchange |  |  |  |  |  | 88 483 295.63 | 98.00 |
| Interest-bearing securities |  |  |  |  |  |  |  |
| 5.75 | % Australia Government Bond 2010/2022 .........  | AUD | 1 000 000 |  |  | % | 100.142 | 663 655.81 | 0.74 |
| 0.50 | % European Investment Bank (MTN) 2011/2023 ....  | AUD | 800 000 |  |  | % | 97.027 | 514 409.80 | 0.57 |
| 2.00 | % Canadian Government Bond (MTN) 2018/2023 ...  | CAD | 1 500 000 |  |  | % | 98.763 | 1 103 065.02 | 1.22 |
| 0.25 | % Canadian Government Bond 2020/2024 .........  | CAD | 1 100 000 |  |  | % | 95.229 | 779 969.27 | 0.86 |
| 4.65 | % Kreditanstalt fuer Wiederaufbau 2007/2023 ......  | CAD | 1 000 000 |  |  | % | 101.124 | 752 956.39 | 0.83 |
| 2.85 | % Province of Ontario Canada 2012/2023 .........  | CAD | 1 000 000 |  |  | % | 99.749 | 742 718.31 | 0.82 |
| 0.40 | % Muenchener Hypothekenbank eG (MTN) 2022/2026 ................................  | CHF | 600 000 | 600 000 |  | % | 95.092 | 573 153.59 | 0.64 |
| 4.70 | % Czech Republic Government Bond 2007/2022 ....  | CZK | 10 000 000 |  |  | % | 99.569 | 402 510.27 | 0.45 |
| 0.45 | % Czech Republic Government Bond (MTN) 2015/2023 ................................  | CZK | 10 000 000 |  |  | % | 92.516 | 373 998.33 | 0.41 |
| 1.25 | % Czech Republic Government Bond (MTN) 2020/2025 ................................  | CZK | 10 000 000 |  |  | % | 88.44 | 357 521.00 | 0.40 |
| 0.00 | % Denmark Government Bond 2021/2024 .........  | DKK | 2 000 000 |  |  | % | 97.707 | 262 699.33 | 0.29 |
| 1.00 | % Realkredit Danmark A/S 2014/2025 ............  | DKK | 2 000 000 | 2 000 000 |  | % | 98.468 | 264 745.38 | 0.29 |
| 2.625 | % Adevinta ASA -Reg- (MTN) 2020/2025 ..........  | EUR | 600 000 |  |  | % | 90.315 | 541 890.00 | 0.60 |
| 3.50 | % Albania Government International Bond -Reg- (MTN) 2018/2025 ..........................  | EUR | 400 000 |  |  | % | 90.146 | 360 584.00 | 0.40 |
| 1.00 | % ASTM SpA (MTN) 2021/2026 .................  | EUR | 300 000 |  |  | % | 87.864 | 263 592.00 | 0.29 |
| 3.375 | % Barclays PLC (MTN) 2020/2025 * ..............  | EUR | 250 000 |  |  | % | 100.836 | 252 090.00 | 0.28 |
| 0.05 | % Bayer AG 2021/2025 ........................  | EUR | 500 000 |  |  | % | 94.486 | 472 430.00 | 0.52 |
| 0.10 | % Booking Holdings, Inc. 2021/2025 .............  | EUR | 350 000 |  |  | % | 94.348 | 330 218.00 | 0.37 |
| 2.45 | % Bulgarian Energy Holding EAD (MTN) 2021/2028..  | EUR | 320 000 |  |  | % | 81.909 | 262 108.80 | 0.29 |
| 0.00 | % Bundesobligation (MTN) 2018/2023 ............  | EUR | 800 000 |  |  | % | 99.784 | 798 272.00 | 0.88 |
| 0.20 | % Bundesschatzanweisungen 2022/2024..........  | EUR | 500 000 | 500 000 |  | % | 99.131 | 495 655.00 | 0.55 |
| 3.00 | % Deutsche Lufthansa AG (MTN) 2020/2026 .......  | EUR | 600 000 |  | 200 000 | % | 84.613 | 507 678.00 | 0.56 |
| 1.625 | % Deutsche Lufthansa AG (MTN) 2021/2023 .......  | EUR | 600 000 |  |  | % | 96.226 | 577 356.00 | 0.64 |
| 2.375 | % DP World Ltd/United Arab Emirates -Reg- (MTN) 2018/2026 ................................  | EUR | 600 000 |  |  | % | 97.324 | 583 944.00 | 0.65 |
| 0.875 | % E.ON SE (MTN) 2022/2025 ...................  | EUR | 330 000 | 330 000 |  | % | 97.269 | 320 987.70 | 0.36 |
| 4.875 | % Eolo SpA -Reg- (MTN) 2021/2028 ..............  | EUR | 600 000 |  | 200 000 | % | 84.655 | 507 930.00 | 0.56 |
| 1.00 | % Eurasian Development Bank (MTN) 2021/2026 ...  | EUR | 1 200 000 |  |  | % | 59.608 | 715 296.00 | 0.79 |
| 0.00 | % European Stability Mechanism Treasury Bill 2021/2022 ................................  | EUR | 500 000 |  | 500 000 | % | 100.069 | 500 345.00 | 0.55 |
| 0.125 | % First Abu Dhabi Bank PJSC (MTN) 2021/2026 ....  | EUR | 400 000 | 400 000 |  | % | 91.306 | 365 224.00 | 0.40 |
| 0.00 | % French Republic Government Bond OAT (MTN) 2018/2024 ................................  | EUR | 300 000 |  |  | % | 98.949 | 296 847.00 | 0.33 |
| 3.375 | % Indonesia Government International Bond -Reg- |  |  |  |  |  |  |  |  |
| (MTN) 2015/2025 ..........................  | EUR | 1 100 000 | % | 100.806 | 1 108 866.00 | 1.23 |
| 2.15 | % Indonesia Government International Bond -Reg- |  |  |  |  |  |  |  |  |
| (MTN) 2017/2024 ..........................  | EUR | 1 000 000 | 1 000 000 | % | 99.262 | 992 620.00 | 1.10 |
| 0.625 % Intesa Sanpaolo SpA (MTN) 2021/2026 .........  | EUR | 500 000 |  | % | 89.056 | 445 280.00 | 0.49 |
| 6.375 % Intesa Sanpaolo SpA 2022/perpetual * ..........  4.75  % Italy Buoni Poliennali Del Tesoro -144A- 2008/2023 ................................  | EUR EUR | 520 000 500 000 | 520 000 | % % | 84.684 104.253 | 440 356.80 521 265.00 | 0.49 0.58 |
| 1.45 | % Italy Buoni Poliennali Del Tesoro (MTN) |  |  |  |  |  |  |  |  |
| 2018/2025 ................................  | EUR | 500 000 | 500 000 | % | 98.912 | 494 560.00 | 0.55 |
| 4.00 | % Lorca Telecom Bondco SA -Reg- (MTN) |  |  |  |  |  |  |  |  |
| 2020/2027 ................................  | EUR | 530 000 |  | % | 83.854 | 444 426.20 | 0.49 |
| 0.875 % MVM Energetika Zrt (MTN) 2021/2027..........  | EUR | 400 000 |  | % | 79.414 | 317 656.00 | 0.35 |
| 2.179 % National Grid PLC (MTN) 2022/2026 ............  7.50  % Netherlands Government Bond -144A- 1993/2023 ................................  | EUR EUR | 560 000 800 000 | 560 000 | % % | 97.608 103.986 | 546 604.80 831 888.00 | 0.61 0.92 |
| 2.75 | % North Macedonia Government International |  |  |  |  |  |  |  |  |
| Bond -Reg- (MTN) 2018/2025 .................  | EUR | 950 000 | 250 000 | % | 90.727 | 861 906.50 | 0.96 |
| 1.625 | % North Macedonia Government International Bond -Reg- (MTN) 2021/2028 .................  | EUR | 260 000 |  |  | % | 75.23 | 195 598.00 | 0.22 |
| 5.75 | % PeopleCert Wisdom Issuer PLC -Reg- (MTN) 2021/2026 ................................  | EUR | 360 000 |  |  | % | 91.332 | 328 795.20 | 0.36 |
| 2.75 | % Peruvian Government International Bond 2015/2026 ................................  | EUR | 800 000 | 800 000 |  | % | 97.716 | 781 728.00 | 0.87 |
| 0.25 | % Philippine Government International Bond 2021/2025 ................................  | EUR | 400 000 |  |  | % | 93.321 | 373 284.00 | 0.41 |
| 1.207 | % Prosus NV -Reg- 2022/2026 ..................  | EUR | 200 000 | 200 000 |  | % | 87.201 | 174 402.00 | 0.19 |
| 6.375 | % Raffinerie Heide GmbH -Reg- (MTN) 2017/2022 ..  | EUR | 250 000 |  |  | % | 93.908 | 234 770.00 | 0.26 |
| 2.75 | % Romanian Government International Bond -Reg- (MTN) 2015/2025 ..........................  | EUR | 200 000 |  | 800 000 | % | 97.416 | 194 832.00 | 0.22 |
| 2.75 | % Romanian Government International Bond -Reg- |  |  |  |  |  |  |  |  |
| (MTN) 2020/2026 ..........................  | EUR | 1 000 000 |  | % | 94.261 | 942 610.00 | 1.04 |
| 2.00  % Signify NV 2020/2024 .......................  | EUR | 400 000 |  | % | 98.423 | 393 692.00 | 0.44 |
| 2.125 % SoftBank Group Corp. 2021/2024 ..............  | EUR | 770 000 |  | % | 90.12 | 693 924.00 | 0.77 |
| 2.875 % SoftBank Group Corp. (MTN) 2021/2027 ........  1.125 % Teva Pharmaceutical Finance Netherlands II BV (MTN) 2016/2024 ..........................  | EUR EUR | 350 000 400 000 | 240 000 | % % | 77.855 89.353 | 272 492.50 357 412.00 | 0.30 0.40 |
| 2.375 % Volkswagen Leasing GmbH (MTN) 2012/2022 ....  | EUR | 500 000 |  | % | 100.342 | 501 710.00 | 0.56 |
| 2.75  % ZF Finance GmbH (MTN) 2020/2027 ...........  | EUR | 400 000 |  | % | 79.226 | 316 904.00 | 0.35 |

| Security name | Count/ units/ | Quantity/ principal | Purchases/ additions | Sales/ disposals | Market price | Total market value in | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| currency | amount	in the reporting period	EUR |
| 1.375 % DNB Bank ASA 2019/2023 ...................  | GBP | 400 000 | % | 98.327 | 459 240.32 | 0.51 |
| 1.375 % First Abu Dhabi Bank PJSC (MTN) 2020/2023 ....  | GBP | 330 000 | % | 99.084 | 381 790.13 | 0.42 |
| 1.00  % Henkel AG & Co., KGaA 2019/2022 ............  2.00 % Mercedes-Benz International Finance BV (MTN) 2018/2023 ................................  | GBP GBP | 200 000 400 000 | % % | 99.718 98.623 | 232 868.52 460 622.80 | 0.26 0.51 |
| 1.75  % New York Life Global Funding (MTN) 2018/2022 ..  | GBP | 200 000 | % | 99.671 | 232 758.76 | 0.26 |
| 2.125 % Wells Fargo & Co. (MTN) 2017/2023 ...........  | GBP | 400 000 | % | 97.511 | 455 429.15 | 0.50 |
| 0.10  % Japan Government Five Year Bond (MTN) |  |  |  |  |  |  |  |  |
|  | 2018/2023 ................................  | JPY | 250 000 000 | % | 100.245 | 1 770 334.89 | 1.96 |
| 0.10 | % Japan Government Five Year Bond 2019/2023 ...  | JPY | 200 000 000 | % | 100.265 | 1 416 550.47 | 1.57 |
| 0.10 | % Japan Government Five Year Bond (MTN) |  |  |  |  |  |  |
| 2019/2024	JPY | 200 000 000 |  |  | % | 100.279 | 1 416 748.26 | 1.57 |
| 0.10 | % Japan Government Five Year Bond (MTN) |  |  |  |  |  |  |  |  |
|  | 2019/2024 ................................  | JPY | 250 000 000 | % | 100.364 | 1 772 436.44 | 1.96 |
| 0.10 | % Japan Government Five Year Bond 2020/2024 ...  | JPY | 100 000 000 | % | 100.403 | 709 250.07 | 0.79 |
| 0.60 | % Japan Government Ten Year Bond (MTN) |  |  |  |  |  |  |
| 2014/2024	JPY | 250 000 000 |  |  | % | 101.307 | 1 789 089.89 | 1.98 |
| 2003/2023	JPY | 200 000 000 |  | 50 000 000 | % | 100.793 | 1 424 010.09 | 1.58 |
| 1.80 | % Japan Government Twenty Year Bond |  |  |  |  |  |  |  |  |
|  | 2003/2023 ................................  | JPY | 250 000 000 |  | % | 101.829 | 1 798 308.46 | 1.99 |
| 8.00 | % Mexican Bonos 2003/2023 ...................  | MXN | 3 000 000 |  | % | 98.2 | 139 937.08 | 0.16 |
| 8.00 | % Mexican Bonos (MTN) 2019/2024 .............  | MXN | 4 000 000 |  | % | 97.357 | 184 981.05 | 0.21 |
| 2.00 | % Norway Government Bond -144A- 2012/2023 ....  | NOK | 5 000 000 | 2 500 000 | % | 99.69 | 482 595.51 | 0.53 |
| 3.00 | % Norway Government Bond -144A- (MTN) |  |  |  |  |  |  |  |
| 2014/2024	NOK | 7 500 000 |  | 2 500 000 | % | 100.368 | 728 816.52 | 0.81 |
| 1.75 | % Norway Government Bond -144A- (MTN) |  |  |  |  |  |  |  |  |
|  | 2015/2025 ................................  | NOK | 10 000 000 | % | 96.933 | 938 497.95 | 1.04 |
| 1.81 | % SpareBank 1 Boligkreditt AS (MTN) 2017/2023 * ..  | NOK | 2 000 000 | % | 100.274 | 194 169.05 | 0.22 |
| 3.375 | % Cooperatieve Rabobank UA/New Zealand (MTN) |  |  |  |  |  |  |  |  |
|  | 2018/2023 ................................  | NZD | 1 000 000 | % | 99.393 | 595 518.41 | 0.66 |
| 5.50 | % New Zealand Government Bond 2011/2023......  | NZD | 1 000 000 | % | 101.686 | 609 257.04 | 0.68 |
| 0.50 | % New Zealand Government Bond 2020/2024......  | NZD | 2 000 000 | % | 94.674 | 1 134 488.55 | 1.26 |
| 2.00 | % New Zealand Government Inflation Linked Bond |  |  |  |  |  |  |
| 2012/2025	NZD | 309 800 | 2 309 800 | 2 000 000 | % | 122.351 | 227 105.86 | 0.25 |
| 2014/2025	PLN | 1 000 000 | 1 000 000 |  | % | 89.031 | 189 543.49 | 0.21 |
| 2017/2023	PLN | 1 000 000 |  |  | % | 97.631 | 207 852.55 | 0.23 |
| 2.25 | % Republic of Poland Government Bond (MTN) |  |  |  |  |  |  |  |  |
| 2019/2024 ................................  | PLN | 1 000 000 | % | 89.355 | 190 233.27 | 0.21 |
| 3.702 % Telia Co., AB 2017/2077 * ...................  | SEK | 2 500 000 | % | 100.171 | 233 815.78 | 0.26 |
| 2.75  % Singapore Government Bond (MTN) 2013/2023...  | SGD | 300 000 | % | 100.393 | 207 606.25 | 0.23 |
| 2.00  % Singapore Government Bond (MTN) 2019/2024...  1.75  % AerCap Ireland Capital DAC Via AerCap Global | SGD | 400 000 | % | 99.298 | 273 789.15 | 0.30 |
| Aviation Trust 2021/2024	USD | 420 000 |  |  | % | 92.762 | 374 058.46 | 0.41 |
| 2.45 | % AerCap Ireland Capital DAC Via AerCap Global |  |  |  |  |  |  |  |  |
| Aviation Trust (MTN) 2021/2026 ...............  | USD | 340 000 | % | 86.94 | 283 804.08 | 0.31 |
| 3.125 % Africa Finance Corp. (MTN) 2020/2025 ..........  | USD | 2 090 000 | % | 93.912 | 1 884 462.35 | 2.09 |
| 2.634 | % African Export-Import Bank -Reg- (MTN) |  |  |  |  |  |  |  |  |
| 2021/2026 ................................  | USD | 550 000 |  | % | 88.409 | 466 852.04 | 0.52 |
| 5.00  % Arcelik AS -Reg- (MTN) 2013/2023 .............  | USD | 500 000 | 250 000 | % | 98.292 | 471 854.68 | 0.52 |
| 0.50 | % Argentine Republic Government International |  |  |  |  |  |  |  |  |
| Bond (MTN) 2020/2030 ......................  | USD | 574 967 |  | % | 23.066 | 127 331.34 | 0.14 |
| 2.141 % AT&T, Inc. 2021/2024 * .....................  | USD | 200 000 | 295 000 | % | 99.141 | 190 372.13 | 0.21 |
| 5.375 | % Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand -Reg- |  |  |  |  |  |  |  |  |
| (MTN) 2020/2025 ..........................  | USD | 500 000 | % | 100.525 | 482 574.28 | 0.53 |
| 1.486 % Bank of America Corp. (MTN) 2020/2024 * ......  | USD | 300 000 | % | 97.971 | 282 188.22 | 0.31 |
| 4.875 | % Comision Federal de Electricidad -Reg- |  |  |  |  |  |  |  |  |
| 2013/2024	USD | 1 000 000 |  |  | % | 99.852 | 958 687.04 | 1.06 |
| 4.75 | % Corp. Financiera de Desarrollo SA -Reg- (MTN) |  |  |  |  |  |  |  |  |
| 2015/2025 ................................  | USD | 1 000 000 |  | % | 99.102 | 951 486.23 | 1.05 |
| 1.169 % DBS Group Holdings Ltd -144A- 2021/2024 ......  | USD | 400 000 | 200 000 | % | 94.812 | 364 119.04 | 0.40 |
| 4.125 | % Development Bank of Kazakhstan JSC -Reg- |  |  |  |  |  |  |  |  |
| (MTN) 2012/2022 ..........................  4.875 % Eastern & Southern African Trade & Development Bank (MTN) 2019/2024 ......................  | USD USD | 1 000 000 1 000 000 | % % | 99.747 94.417 | 957 678.93 906 505.17 | 1.06 1.00 |
| 4.125 % Eastern & Southern African Trade & Development Bank (MTN) 2021/2028 ......................  | USD | 600 000 | % | 82.345 | 474 360.56 | 0.53 |
| 6.875 % Ecopetrol SA (MTN) 2020/2030 ...............  | USD | 250 000 | % | 88.288 | 211 915.04 | 0.24 |
| 1.639 | % Emirates Development Bank PJSC (MTN) |  |  |  |  |  |  |  |  |
| 2021/2026 ................................  | USD | 1 200 000 |  |  | % | 91.805 | 1 057 712.58 | 1.17 |
| 8.50  % Energo-Pro AS -Reg- (MTN) 2022/2027 .........  | USD | 800 000 | 1 200 000 | 400 000 | % | 95.048 | 730 050.76 | 0.81 |
| 9.534 | % Eurasian Development Bank -Reg- (MTN) |  |  |  |  |  |  |  |  |
| 2012/2022 ................................  | USD | 1 100 000 |  |  | % | 74.994 | 792 025.73 | 0.88 |
| 3.869 % ING Groep NV 2022/2026 * ..................  | USD | 250 000 | 450 000 | 200 000 | % | 98.098 | 235 461.69 | 0.26 |
| 2.67  % Microchip Technology, Inc. 2020/2023 ..........  8.75  % Mongolia Government International Bond -Reg- | USD | 500 000 |  |  | % | 98.543 | 473 059.61 | 0.52 |
| (MTN) 2017/2024	USD | 250 000 | 250 000 |  | % | 100.913 | 242 218.45 | 0.27 |
| 5.25 | % Namibia International Bonds -Reg- (MTN) |  |  |  |  |  |  |  |  |
| 2015/2025 ................................  | USD | 700 000 | % | 88.636 | 595 700.93 | 0.66 |
| 2.375 % NatWest Markets PLC -144A- 2020/2023........  | USD | 400 000 | % | 98.684 | 378 989.19 | 0.42 |

1.00  % Japan Government Twenty Year Bond
3.25  % Republic of Poland Government Bond (MTN)
2.50  % Republic of Poland Government Bond (MTN)
| Security name | Count/ units/ currency | Quantity/ principal amount | Purchases/ additions in the | Sales/ disposals reporting period |  | Market price | Total market value in EUR | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 7.625 % Nigeria Government International Bond -Reg- (MTN) 2018/2025 ..........................  | USD | 500 000 |  |  | % | 88.172 | 423 273.21 | 0.47 |
| 7.35  % Peruvian Government International Bond 2005/2025 ................................  | USD | 850 000 |  |  | % | 107.854 | 880 187.65 | 0.98 |
| 3.75  % Power Finance Corp., Ltd (MTN) 2019/2024 .....  | USD | 500 000 |  |  | % | 98.919 | 474 864.62 | 0.53 |
| 3.25  % Power Finance Corp., Ltd (MTN) 2019/2024 .....  | USD | 500 000 |  |  | % | 97.662 | 468 830.34 | 0.52 |
| 1.375 % QNB Finance Ltd (MTN) 2021/2026 ............  | USD | 500 000 | 500 000 |  | % | 91.016 | 436 925.95 | 0.48 |
| 3.50  % REC Ltd (MTN) 2019/2024 ...................  2.375 % Republic of Italy Government International Bond (MTN) 2019/2024 ..........................  | USD USD | 1 250 000 400 000 |  | 200 000 | % % | 97.916 96.818 | 1 175 124.19 371 822.95 | 1.30 0.41 |
| 3.00  % Romanian Government International Bond -Reg- (MTN) 2022/2027 ..........................  | USD | 640 000 | 640 000 |  | % | 88.314 | 542 662.26 | 0.60 |
| 1.089 % Santander UK Group Holdings PLC 2021/2025 * ..  | USD | 400 000 |  | 200 000 | % | 93.796 | 360 217.16 | 0.40 |
| 4.75  % Shimao Group Holdings Ltd (MTN) 2017/2022 ....  | USD | 300 000 |  |  | % | 12.182 | 35 088.11 | 0.04 |
| 0.991 % Standard Chartered PLC -144A- 2021/2025 * .....  | USD | 400 000 |  |  | % | 94.511 | 362 963.07 | 0.40 |
| 3.30 % Take-Two Interactive Software, Inc. 2022/2024 ...  | USD | 240 000 | 240 000 |  | % | 98.761 | 227 570.94 | 0.25 |
| 5.125 % TC Ziraat Bankasi AS -Reg- (MTN) 2017/2023 ....  | USD | 800 000 |  |  | % | 95.679 | 734 897.39 | 0.81 |
| 5.375 % TC Ziraat Bankasi AS -Reg- (MTN) 2021/2026 ....  | USD | 300 000 |  |  | % | 84.926 | 244 614.40 | 0.27 |
| 1.899 % Tencent Holdings Ltd -Reg- (MTN) 2019/2024 * .. 5.625 % Third Pakistan International Sukuk Co., Ltd -Reg- (MTN) 2017/2022 ..........................  | USD USD | 500 000 300 000 |  |  | % % | 99.84 93.877 | 479 285.91 270 396.18 | 0.53 0.30 |
| 4.00  % Transnet SOC Ltd -Reg- (MTN) 2012/2022 .......  5.50 % Turkiye Vakiflar Bankasi TAO -Reg- (MTN) 2021/2026 ................................  | USD USD | 600 000 300 000 |  |  | % % | 95.874 82.232 | 552 296.37 236 854.80 | 0.61 0.26 |
| 7.75  % Ukraine Government International Bond -Reg- |  |  |  |  |  |  |  |  |
| (MTN) 2015/2024 ..........................  | USD | 600 000 | % | 25.584 | 147 380.42 | 0.16 |
| 1.625 % United States Treasury Note/Bond (MTN) |  |  |  |  |  |  |  |  |
| 2012/2022 ................................  | USD | 1 000 000 | % | 99.771 | 957 914.00 | 1.06 |
| 2.125 % United States Treasury Note/Bond (MTN) |  |  |  |  |  |  |  |  |
| 2017/2024 ................................  | USD | 2 000 000 | % | 98.551 | 1 892 387.87 | 2.10 |
| 2.125 % United States Treasury Note/Bond (MTN) |  |  |  |  |  |  |  |  |
| 2017/2024 ................................  | USD | 2 100 000 | % | 97.955 | 1 974 996.54 | 2.19 |
| 2.75  % United States Treasury Note/Bond (MTN) |  |  |  |  |  |  |  |  |
| 2018/2023 ................................  | USD | 1 500 000 | % | 99.791 | 1 437 152.29 | 1.59 |
| 2.875 % United States Treasury Note/Bond (MTN) |  |  |  |  |  |  |  |  |
| 2018/2023 ................................  | USD | 1 000 000 | % | 99.939 | 959 526.68 | 1.06 |
| 2.875 % United States Treasury Note/Bond (MTN) |  |  |  |  |  |  |  |  |
| 2018/2023 ................................  | USD | 2 000 000 | 1 000 000 | % | 99.889 | 1 918 078.26 | 2.12 |
| 1.50  % United States Treasury Note/Bond (MTN) |  |  |  |  |  |  |  |  |
| 2019/2024 ................................  | USD | 1 000 000 |  | % | 96.262 | 924 216.47 | 1.02 |
| 1.50  % United States Treasury Note/Bond 2020/2023 ....  | USD | 1 500 000 |  | % | 99.447 | 1 432 201.74 | 1.59 |
| 0.50  % United States Treasury Note/Bond 2020/2023 ....  | USD | 1 000 000 |  | % | 98.457 | 945 293.83 | 1.05 |
| 0.125 % United States Treasury Note/Bond 2020/2023 ....  | USD | 1 500 000 |  | % | 97.652 | 1 406 351.95 | 1.56 |
| 0.125 % United States Treasury Note/Bond 2021/2024 ....  | USD | 2 000 000 |  | % | 95.744 | 1 838 494.32 | 2.04 |
| 0.25  % United States Treasury Note/Bond 2021/2024 ....  | USD | 2 100 000 |  | % | 94.676 | 1 908 878.47 | 2.11 |
| Securities admitted to or included in organized markets |  |  |  |  |  | 1 624 128.29 | 1.80 |
| Interest-bearing securities 0.998 % Banque Federative du Credit Mutuel SA 2021/2025 ................................  | USD | 300 000 | 200 000 | % | 92.185 | 265 522.67 | 0.29 |
| 1.125 % Daimler Trucks Finance North America LLC |  |  |  |  |  |  |  |  |
| -144A- 2021/2023 ..........................  | USD | 400 000 | 200 000 | % | 96.155 | 369 276.74 | 0.41 |
| 1.625 % Daimler Trucks Finance North America LLC -144A- 2021/2024 ..........................  | USD | 400 000 |  |  | % | 94.238 | 361 914.63 | 0.40 |
| 0.856 % DNB Bank ASA -144A- 2021/2025 * ............  5.625 % Nielsen Finance LLC Via Nielsen Finance Co. -144A- (MTN) 2020/2028 .....................     | USD USD | 400 000 300 000 |  | 120 000 | % % | 93.107 93.685 | 357 571.10 269 843.15 | 0.40 0.30 |
| Total securities portfolio |  |  |  |  |  |  | 90 107 423.92 | 99.80 |
| Derivatives (Minus signs denote short positions) |  |  |  |  |  |  |  |  |
| Interest rate derivatives Receivables/payables |  |  |  |  |  |  | -88 102.00 | -0.10 |
| Interest rate futures Euro SCHATZ Futures 09/2022 (DB) ....................  | Count | -200 | 210 | 410 |  |  | -88 102.00 | -0.10 |
| Currency derivatives Receivables/payables |  |  |  |  |  |  | -602 539.41 | -0.67 |
| Forward currency transactions |  |  |  |  |  |  |  |  |
| Forward currency transactions (long) |  |  |  |  |  |  |  |  |
| Open positions CHF/EUR 0.1 million ................................  |  |  |  |  |  |  | 174.50 | 0.00 |
| USD/EUR 9.9 million ................................  |  |  |  |  |  |  | 146 843.49 | 0.16 |

| Count/ Security name	units/ | Quantity/ principal | Purchases/ additions | Sales/ disposals | Market price | Total market value in | % of net assets |
| --- | --- | --- | --- | --- | --- | --- |
|  | currency | amount | in the reporting period | EUR |  |
| Closed positions CHF/EUR 0.1 million ................................  |  |  |  | 1.85 | 0.00 |
| Forward currency transactions (short) |  |  |  |  |  |
| Open positions EUR/AUD 1.8 million ................................  |  |  |  | -8 172.71 | -0.01 |
| EUR/CAD 4.6 million ................................  |  |  |  | -26 368.00 | -0.03 |
| EUR/CHF 0.6 million ................................  |  |  |  | -7 997.73 | -0.01 |
| EUR/CZK 29.0 million ...............................  |  |  |  | -345.47 | 0.00 |
| EUR/DKK 4.0 million ................................  |  |  |  | -84.52 | 0.00 |
| EUR/GBP 2.0 million ................................  |  |  |  | -15 620.91 | -0.02 |
| EUR/JPY 1 715.0 million .............................  |  |  |  | -172 751.23 | -0.19 |
| EUR/MXN 7.0 million ................................  |  |  |  | -345.75 | 0.00 |
| EUR/NOK 24.4 million ...............................  |  |  |  | -633.14 | 0.00 |
| EUR/NZD 4.0 million ................................  |  |  |  | -17 522.98 | -0.02 |
| EUR/PLN 2.9 million ................................  |  |  |  | 908.52 | 0.00 |
| EUR/SEK 2.5 million ................................  |  |  |  | 1 238.62 | 0.00 |
| EUR/SGD 0.7 million ................................  |  |  |  | -3 821.53 | 0.00 |
| EUR/USD 44.2 million ...............................  |  |  |  | -498 042.42 | -0.55 |
| Cash at bank |  |  |  | 257 813.80 | 0.29 |
| Demand deposits at Depositary EUR deposits......................................  | EUR |  |  | 215 227.77 | 0.24 |
| Deposits in other EU/EEA currencies |  |  |  |  |  |
| Danish krone ......................................  | DKK | 9 935 |  | 1 335.61 | 0.00 |
| Norwegian krone ...................................  | NOK | 2 205 |  | 213.46 | 0.00 |
| Polish zloty........................................  | PLN | 12 101 |  | 2 576.15 | 0.01 |
| Swedish krona .....................................  | SEK | 2 942 |  | 274.72 | 0.00 |
| Czech koruna ......................................  | CZK | 303 |  | 12.25 | 0.00 |
| Deposits in non-EU/EEA currencies |  |  |  |  |  |
| Australian dollar ....................................         | AUD | 519 |  | 343.64 | 0.00 |
| British pound .....................................  | GBP | 357 |  | 416.73 | 0.00 |
| Chinese yuan renminbi ..............................  | CNY | 135 704 |  | 19 462.85 | 0.02 |
| Japanese yen......................................  | JPY | 420 481 |  | 2 970.29 | 0.01 |
| Canadian dollar ....................................  | CAD | 952 |  | 708.94 | 0.00 |
| Mexican peso .....................................  | MXN | 3 278 |  | 155.70 | 0.00 |
| New Zealand dollar .................................  | NZD | 1 913 |  | 1 146.42 | 0.00 |
| Swiss franc .......................................  | CHF | 745 |  | 748.69 | 0.00 |
| Singapore dollar ...................................  | SGD | 327 |  | 225.72 | 0.00 |
| South African rand..................................  | ZAR | 13 |  | 0.75 | 0.00 |
| U.S. dollar ........................................  | USD | 12 492 |  | 11 994.11 | 0.01 |
| Other assets |  |  |  | 748 359.96 | 0.83 |
| Prepaid placement fee ** ............................  |  |  |  | 1 628.20 | 0.00 |
| Interest receivable .................................  |  |  |  | 696 407.55 | 0.77 |
| Receivables from exceeding the expense cap ............  |  |  |  | 25 669.33 | 0.03 |
| Other receivables ..................................  |  |  |  | 24 654.88 | 0.03 |
| Total assets *** |  |  |  | 91 262 764.66 | 101.08 |
| Other liabilities |  |  |  | -131 270.69 | -0.15 |
| Liabilities from cost items ............................  |  |  |  | -131 270.69 | -0.15 |
| Total liabilities |  |  |  | -971 079.08 | -1.08 |
| Net assets |  |  |  | 90 291 685.58 | 100.00 |

Negligible rounding errors may have arisen due to the rounding of calculated percentages.
A list of the transactions completed during the reporting period that no longer appear in the investment portfolio is available free of charge from the Management Company upon request.
| Net asset value per share and number of shares outstanding | Count/ currency | Net asset value per share in the respective currency |
| --- | --- | --- |
| Net asset value per share Class CHF ICH25...................................  | CHF | 93.73 |
| Class FC .........................................  | EUR | 98.24 |
| Class FD .........................................  | EUR | 90.19 |
| Class IC50 ........................................  | EUR | 94.81 |
| Class ID50 ........................................  | EUR | 91.32 |
| Class LC .........................................  | EUR | 97.00 |
| Class LD .........................................  | EUR | 92.29 |
| Class NC .........................................  | EUR | 92.59 |
| Class PFC ........................................  | EUR | 94.58 |
| Class TFC.........................................  | EUR | 96.21 |
| Class TFD.........................................  | EUR | 91.24 |
| Class USD FCH ....................................  | USD | 110.61 |
| Class USD LCH ....................................  | USD | 109.01 |
| Class USD TFCH ...................................  | USD | 104.90 |
| Number of shares outstanding Class CHF ICH25...................................  | Count | 100.000 |
| Class FC .........................................  | Count | 198 378.892 |
| Class FD .........................................  | Count | 103.000 |
| Class IC50 ........................................  | Count | 120 893.324 |
| Class ID50 ........................................  | Count | 195.993 |
| Class LC .........................................  | Count | 406 064.525 |
| Class LD .........................................  | Count | 86 597.508 |
| Class NC .........................................  | Count | 25 862.212 |
| Class PFC ........................................  | Count | 665.000 |
| Class TFC.........................................  | Count | 1 207.551 |
| Class TFD.........................................  | Count | 121.000 |
| Class USD FCH ....................................  | Count | 87 618.000 |
| Class USD LCH ....................................  | Count | 318.535 |
| Class USD TFCH ...................................  | Count | 24.000 |

Presentation of the maximum limit (according to CSSF circular 11/512) 14.14% of portfolio value
Market risk exposure (value-at-risk) (according to CSSF circular 11/512)
| Lowest market risk exposure .........................  | % | 0.275 |
| --- | --- | --- |
| Highest market risk exposure .........................  | % | 1.362 |
| Average market risk exposure.........................  | % | 0.690 |

The values-at-risk were calculated for the period from January 1, 2022, through June 30, 2022, using historical simulation with a 99% confidence level, a 10-day holding period and an effective historical observation period of one year. The risk in a reference portfolio that does not contain derivatives is used as the measurement benchmark. Market risk is the risk to the fund’s assets arising from an unfavorable change in market prices. The Company determines the potential market risk by means of the absolute value-at-risk approachas defined in CSSF circular 11/512.
In the reporting period, the average leverage effect from the use of derivatives was 1.0, whereby the total of the nominal amounts of the derivatives in relation to the fund’s assets was used for the calculation (sum-of-notional approach).
The gross exposure generated via derivatives pursuant to point 40 a) of the “Guidelines on ETFs and other UCITS issues” of the European Securities and Markets Authority (ESMA) totaled EUR 89 916 949.38 as of the reporting date.
 Market abbreviations	 Futures exchanges
DB = Deutsche Bank AG Frankfurt
Contracting parties for forward currency transactions
Barclays Bank Ireland PLC, BNP Paribas S.A., Deutsche Bank AG, Goldman Sachs Bank Europe SE, Royal Bank of Canada (UK), State Street Bank International GmbH and UBS AG.
Exchange rates (indirect quotes)
As of June 30, 2022
| Australian dollar ................. . | AUD | 1.508945 | = | EUR | 1 |
| --- | --- | --- | --- | --- | --- |
| Canadian dollar ................. . | CAD | 1.343026 | = | EUR | 1 |
| Swiss franc .................... . | CHF | 0.995461 | = | EUR | 1 |
| Chinese yuan renminbi ........... . | CNY | 6.972445 | = | EUR | 1 |
| Czech koruna................... . | CZK | 24.737009 | = | EUR | 1 |
| Danish krone ................... . | DKK | 7.438694 | = | EUR | 1 |
| British pound .................. . | GBP | 0.856432 | = | EUR | 1 |
| Japanese yen .................. . | JPY | 141.562199 | = | EUR | 1 |
| Mexican peso .................. . | MXN | 21.052319 | = | EUR | 1 |
| Norwegian krone ................ . | NOK | 10.328526 | = | EUR | 1 |
| New Zealand dollar .............. . | NZD | 1.669016 | = | EUR | 1 |
| Polish zloty .................... . | PLN | 4.697128 | = | EUR | 1 |
| Swedish krona.................. . | SEK | 10.710462 | = | EUR | 1 |
| Singapore dollar ................ . | SGD | 1.450722 | = | EUR | 1 |
| U.S. dollar ..................... . | USD | 1.041549 | = | EUR | 1 |
| South African rand............... . | ZAR | 17.102243 | = | EUR | 1 |
| Notes on valuation |  |  |  |  |  |

Under the responsibility of the Board of Directors of the SICAV, the Management Company determines the net asset values per share and performs the valuation of the assets of the fund. The basic provision of price data and price validation are performed in accordance with the method introduced by the Board of Directors of the SICAV on the basis of the legal and regulatory requirements or the principles for valuation methods defined in the SICAV’s prospectus.
If no trading prices are available, prices are determined with the aid of valuation models (derived market values) which are agreed between State Street Bank International GmbH, Luxembourg Branch, as external price service provider and the Management Company and which are based as far as possible on market parameters. This procedure is subject to an ongoing monitoring process. The plausibility of price information from third parties is checked through other pricing sources, model calculations or other suitable procedure.
Assets reported in this report are not valued at derived market values.
Footnotes
* Floating interest rate.
** The prepaid placement fee is amortized over a period of three years (as specified in article 13 (f) of the general section of the fund’s management regulations).
*** Does not include positions with a negative balance, if such exist.

Translation (ENDE, 2022-06-30):
# DWS Invest Short Duration Income
DWS INVEST SHORT DURATION INCOME

### Wertentwicklung der Anteilklassen vs. Vergleichsindex (in EUR)
| Anteilklasse | ISIN | 6 Monate |
| --- | --- | --- |
| Klasse LC | LU2220514363 | -5,4% |
| Klasse FC | LU2220514017 | -5,3% |
| Klasse FD | LU2220514108 | -5,3% |
| Klasse IC50 | LU2220514876 | -5,1% |
| Klasse ID50 | LU2220514280 | -5,1% |
| Klasse LD | LU2220514447 | -5,4% |
| Klasse NC | LU2220514520 | -5,6% |
| Klasse PFC | LU2220514793 | -5,2% |
| Klasse TFC | LU2220515097 | -5,3% |
| Klasse TFD | LU2220515170 | -5,3% |
| Klasse CHF ICH25 1) | LU2388561594 | -5,7% |
| Klasse USD FCH 2) | LU2220515253 | -4,7% |
| Klasse USD LCH 2) | LU2220515337 | -4,7% |
| Klasse USD TFCH 2) | LU2220515410 | -4,7% |


##### Barclays Global Aggregate 1-3Y TR (hedged in EUR)
1) 
in CHF
2) 
in USD

##### -3,0%
Wertentwicklung nach BVI-Methode, d. h. ohne Berücksichtigung des Ausgabeaufschlages.
Wertentwicklungen der Vergangenheit ermöglichen keine Prognose für die Zukunft.	Stand: 30.6.2022
DWS Invest Short Duration Income
| Vermögensübersicht zum 30.6.2022 |  |
| --- | --- |
|  | Bestand in EUR | %-Anteil am Fondsvermögen |
| I. Vermögensgegenstände |  |  |
| 1. Anleihen (Emittenten) Unternehmen | 36 174 531,40 | 40,04 |
| Zentralregierungen | 53 190 174,21 | 58,94 |
| Regionalregierungen | 742 718,31 | 0,82 |
| Summe Anleihen | 90 107 423,92 | 99,80 |
| 2. Derivate | -690 641,41 | -0,77 |
| 3. Bankguthaben | 257 813,80 | 0,29 |
| 4. Sonstige Vermögensgegenstände | 748 359,96 | 0,83 |
| II. Verbindlichkeiten |  |  |
| 1. Sonstige Verbindlichkeiten | -131 270,69 | -0,15 |
| III. Fondsvermögen | 90 291 685,58 | 100,00 |
| Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein. |  |  |

| Vermögensaufstellung zum 30.6.2022 |  |
| --- | --- |
|  | Stück bzw. | Nominalbetrag | Käufe/ | Verkäufe/ | Kurs | Kurswert | %-Anteil am |
| Wertpapierbezeichnung | Anteile bzw. | bzw. | Zugänge | Abgänge |  | in | Fonds- |
| Währung	Bestand	im Berichtszeitraum	EUR	vermögen |

Börsengehandelte Wertpapiere	88 483 295,63	98,00
| 5,75 | % Australia Government Bond 2010/2022 ........  | AUD | 1 000 000 |  | % | 100,142 | 663 655,81 | 0,74 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 0,50 | % European Investment Bank (MTN) 2011/2023  ..  | AUD | 800 000 |  | % | 97,027 | 514 409,80 | 0,57 |
| 2,00 | % Canadian Government Bond (MTN) 2018/2023 ..  | CAD | 1 500 000 |  | % | 98,763 | 1 103 065,02 | 1,22 |
| 0,25 | % Canadian Government Bond 2020/2024  .......  | CAD | 1 100 000 |  | % | 95,229 | 779 969,27 | 0,86 |
| 4,65 | % Kreditanstalt fuer Wiederaufbau 2007/2023  ....  | CAD | 1 000 000 |  | % | 101,124 | 752 956,39 | 0,83 |
| 2,85 | % Province of Ontario Canada 2012/2023 ........  | CAD | 1 000 000 |  | % | 99,749 | 742 718,31 | 0,82 |
| 0,40 | % Muenchener Hypothekenbank eG (MTN) 2022/2026  ..............................  | CHF | 600 000 | 600 000 | % | 95,092 | 573 153,59 | 0,64 |
| 4,70 | % Czech Republic Government Bond 2007/2022  ..  | CZK | 10 000 000 |  | % | 99,569 | 402 510,27 | 0,45 |
| 0,45 | % Czech Republic Government Bond (MTN) 2015/2023  ..............................  | CZK | 10 000 000 |  | % | 92,516 | 373 998,33 | 0,41 |
| 1,25 | % Czech Republic Government Bond (MTN) 2020/2025  ..............................  | CZK | 10 000 000 |  | % | 88,44 | 357 521,00 | 0,40 |
| 0,00 | % Denmark Government Bond 2021/2024  .......  | DKK | 2 000 000 |  | % | 97,707 | 262 699,33 | 0,29 |
| 1,00 | % Realkredit Danmark A/S 2014/2025 ...........  | DKK | 2 000 000 | 2 000 000 | % | 98,468 | 264 745,38 | 0,29 |
| 2,625 % Adevinta ASA -Reg- (MTN) 2020/2025	EUR | 600 000 |  | % | 90,315 | 541 890,00 | 0,60 |
| (MTN) 2018/2025	EUR | 400 000 |  | % | 90,146 | 360 584,00 | 0,40 |
| 1,00  % ASTM SpA (MTN) 2021/2026  ...............  | EUR | 300 000 |  |  | % | 87,864 | 263 592,00 | 0,29 |
| 3,375 % Barclays PLC (MTN) 2020/2025 * .............  | EUR | 250 000 |  |  | % | 100,836 | 252 090,00 | 0,28 |
| 0,05  % Bayer AG 2021/2025  ......................  | EUR | 500 000 |  |  | % | 94,486 | 472 430,00 | 0,52 |
| 0,10  % Booking Holdings, Inc. 2021/2025 ............  | EUR | 350 000 |  |  | % | 94,348 | 330 218,00 | 0,37 |
| 2,45  % Bulgarian Energy Holding EAD (MTN) 2021/2028 | EUR | 320 000 |  |  | % | 81,909 | 262 108,80 | 0,29 |
| 0,00  % Bundesobligation (MTN) 2018/2023  ..........  | EUR | 800 000 |  |  | % | 99,784 | 798 272,00 | 0,88 |
| 0,20  % Bundesschatzanweisungen 2022/2024  ........  | EUR | 500 000 | 500 000 |  | % | 99,131 | 495 655,00 | 0,55 |
| 3,00  % Deutsche Lufthansa AG (MTN) 2020/2026  .....  | EUR | 600 000 |  | 200 000 | % | 84,613 | 507 678,00 | 0,56 |
| 1,625 % Deutsche Lufthansa AG (MTN) 2021/2023 ..... 2,375 % DP World Ltd/United Arab Emirates -Reg- (MTN) 2018/2026  ..............................  | EUR EUR | 600 000 600 000 |  |  | % % | 96,226 97,324 | 577 356,00 583 944,00 | 0,64 0,65 |
| 0,875 % E.ON SE (MTN) 2022/2025  .................  | EUR | 330 000 | 330 000 |  | % | 97,269 | 320 987,70 | 0,36 |
| 4,875 % Eolo SpA -Reg- (MTN) 2021/2028  ............  | EUR | 600 000 |  | 200 000 | % | 84,655 | 507 930,00 | 0,56 |
| 1,00 % Eurasian Development Bank (MTN) 2021/2026 .. 0,00 % European Stability Mechanism Treasury Bill 2021/2022  ..............................  | EUR EUR | 1 200 000 500 000 |  | 500 000 | % % | 59,608 100,069 | 715 296,00 500 345,00 | 0,79 0,55 |
| 0,125 % First Abu Dhabi Bank PJSC (MTN) 2021/2026  ..  0,00  % French Republic Government Bond OAT (MTN) | EUR | 400 000 | 400 000 |  | % | 91,306 | 365 224,00 | 0,40 |
| 2018/2024	EUR | 300 000 |  | % | 98,949 | 296 847,00 | 0,33 |
| (MTN) 2015/2025	EUR | 1 100 000 |  | % | 100,806 | 1 108 866,00 | 1,23 |
| 2,15 | % Indonesia Government International Bond -Reg- |  |  |  |  |  |  |  |  |
| (MTN) 2017/2024 .........................  | EUR | 1 000 000 | 1 000 000 | % | 99,262 | 992 620,00 | 1,10 |
| 0,625 % Intesa Sanpaolo SpA (MTN) 2021/2026 ........  | EUR | 500 000 |  | % | 89,056 | 445 280,00 | 0,49 |
| 6,375 % Intesa Sanpaolo SpA 2022/perpetual * ......... 4,75 % Italy Buoni Poliennali Del Tesoro -144A- 2008/2023  ..............................  | EUR EUR | 520 000 500 000 | 520 000 | % % | 84,684 104,253 | 440 356,80 521 265,00 | 0,49 0,58 |
| 1,45 | % Italy Buoni Poliennali Del Tesoro (MTN) |  |  |  |  |  |  |  |  |
| 2018/2025  ..............................  | EUR | 500 000 | 500 000 | % | 98,912 | 494 560,00 | 0,55 |
| 4,00 | % Lorca Telecom Bondco SA -Reg- (MTN) |  |  |  |  |  |  |  |  |
| 2020/2027  ..............................  | EUR | 530 000 |  | % | 83,854 | 444 426,20 | 0,49 |
| 0,875 % MVM Energetika Zrt (MTN) 2021/2027  ........  | EUR | 400 000 |  | % | 79,414 | 317 656,00 | 0,35 |
| 2,179 % National Grid PLC (MTN) 2022/2026  ..........  7,50  % Netherlands Government Bond -144A- 1993/2023  ..............................  | EUR EUR | 560 000 800 000 | 560 000 | % % | 97,608 103,986 | 546 604,80 831 888,00 | 0,61 0,92 |
| 2,75 | % North Macedonia Government International |  |  |  |  |  |  |  |  |
| Bond -Reg- (MTN) 2018/2025  ...............  | EUR | 950 000 | 250 000 | % | 90,727 | 861 906,50 | 0,96 |
| 1,625 | % North Macedonia Government International Bond -Reg- (MTN) 2021/2028  ...............  | EUR | 260 000 |  |  | % | 75,23 | 195 598,00 | 0,22 |
| 5,75 | % PeopleCert Wisdom Issuer PLC -Reg- (MTN) 2021/2026  ..............................  | EUR | 360 000 |  |  | % | 91,332 | 328 795,20 | 0,36 |
| 2,75 | % Peruvian Government International Bond 2015/2026  ..............................  | EUR | 800 000 | 800 000 |  | % | 97,716 | 781 728,00 | 0,87 |
| 0,25 | % Philippine Government International Bond 2021/2025  ..............................  | EUR | 400 000 |  |  | % | 93,321 | 373 284,00 | 0,41 |
| 1,207 | % Prosus NV -Reg- 2022/2026 .................  | EUR | 200 000 | 200 000 |  | % | 87,201 | 174 402,00 | 0,19 |
| 6,375 | % Raffinerie Heide GmbH -Reg- (MTN) 2017/2022 . | EUR | 250 000 |  |  | % | 93,908 | 234 770,00 | 0,26 |
| 2,75 | % Romanian Government International Bond -Reg- (MTN) 2015/2025 .........................  | EUR | 200 000 |  | 800 000 | % | 97,416 | 194 832,00 | 0,22 |
| 2,75 | % Romanian Government International Bond -Reg- |  |  |  |  |  |  |  |  |
| (MTN) 2020/2026 .........................  | EUR | 1 000 000 |  | % | 94,261 | 942 610,00 | 1,04 |
| 2,00  % Signify NV 2020/2024  .....................  | EUR | 400 000 |  | % | 98,423 | 393 692,00 | 0,44 |
| 2,125 % SoftBank Group Corp. 2021/2024  ............  | EUR | 770 000 |  | % | 90,12 | 693 924,00 | 0,77 |
| 2,875 % SoftBank Group Corp. (MTN) 2021/2027 ....... 1,125 % Teva Pharmaceutical Finance Netherlands II BV (MTN) 2016/2024 .........................  | EUR EUR | 350 000 400 000 | 240 000 | % % | 77,855 89,353 | 272 492,50 357 412,00 | 0,30 0,40 |
| 2,375 % Volkswagen Leasing GmbH (MTN) 2012/2022  ..  | EUR | 500 000 |  | % | 100,342 | 501 710,00 | 0,56 |
| 2,75  % ZF Finance GmbH (MTN) 2020/2027 ..........  | EUR | 400 000 |  | % | 79,226 | 316 904,00 | 0,35 |

Verzinsliche Wertpapiere
3,50  % Albania Government International Bond -Reg-
3,375 % Indonesia Government International Bond -Reg-
| Wertpapierbezeichnung | Stück bzw. Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Währung | Bestand	im Berichtszeitraum	EUR	vermögen |
| 1,375 % DNB Bank ASA 2019/2023  .................  | GBP | 400 000 | % | 98,327 | 459 240,32 | 0,51 |
| 1,375 % First Abu Dhabi Bank PJSC (MTN) 2020/2023  ..  | GBP | 330 000 | % | 99,084 | 381 790,13 | 0,42 |
| 1,00  % Henkel AG & Co., KGaA 2019/2022  ..........  2,00  % Mercedes-Benz International Finance BV (MTN) | GBP | 200 000 | % | 99,718 | 232 868,52 | 0,26 |
| 2018/2023	GBP | 400 000 |  |  | % | 98,623 | 460 622,80 | 0,51 |
| 1,75  % New York Life Global Funding (MTN) 2018/2022 | GBP | 200 000 | % | 99,671 | 232 758,76 | 0,26 |
| 2,125 % Wells Fargo & Co. (MTN) 2017/2023 ..........  | GBP | 400 000 | % | 97,511 | 455 429,15 | 0,50 |
| 0,10  % Japan Government Five Year Bond (MTN) |  |  |  |  |  |  |  |  |  |
|  | 2018/2023  ..............................  | JPY | 250 000 000 | % | 100,245 | 1 770 334,89 | 1,96 |
| 0,10 | % Japan Government Five Year Bond 2019/2023  ..  | JPY | 200 000 000 | % | 100,265 | 1 416 550,47 | 1,57 |
| 0,10 | % Japan Government Five Year Bond (MTN) |  |  |  |  |  |  |
| 2019/2024	JPY | 200 000 000 |  |  | % | 100,279 | 1 416 748,26 | 1,57 |
| 0,10 | % Japan Government Five Year Bond (MTN) |  |  |  |  |  |  |  |  |  |
|  | 2019/2024  ..............................  | JPY | 250 000 000 | % | 100,364 | 1 772 436,44 | 1,96 |
| 0,10 | % Japan Government Five Year Bond 2020/2024  ..  | JPY | 100 000 000 | % | 100,403 | 709 250,07 | 0,79 |
| 0,60 | % Japan Government Ten Year Bond (MTN) |  |  |  |  |  |  |
| 2014/2024	JPY | 250 000 000 |  |  | % | 101,307 | 1 789 089,89 | 1,98 |
| 2003/2023	JPY | 200 000 000 |  | 50 000 000 | % | 100,793 | 1 424 010,09 | 1,58 |
| 1,80 | % Japan Government Twenty Year Bond |  |  |  |  |  |  |  |  |  |
|  | 2003/2023  ..............................  | JPY | 250 000 000 |  | % | 101,829 | 1 798 308,46 | 1,99 |
| 8,00 | % Mexican Bonos 2003/2023  .................  | MXN | 3 000 000 |  | % | 98,2 | 139 937,08 | 0,16 |
| 8,00 | % Mexican Bonos (MTN) 2019/2024  ............  | MXN | 4 000 000 |  | % | 97,357 | 184 981,05 | 0,21 |
| 2,00 | % Norway Government Bond -144A- 2012/2023 ...  | NOK | 5 000 000 | 2 500 000 | % | 99,69 | 482 595,51 | 0,53 |
| 3,00 | % Norway Government Bond -144A- (MTN) |  |  |  |  |  |  |  |
| 2014/2024	NOK | 7 500 000 |  | 2 500 000 | % | 100,368 | 728 816,52 | 0,81 |
| 1,75 | % Norway Government Bond -144A- (MTN) |  |  |  |  |  |  |  |  |  |
|  | 2015/2025  ..............................  | NOK | 10 000 000 | % | 96,933 | 938 497,95 | 1,04 |
| 1,81 | % SpareBank 1 Boligkreditt AS (MTN) 2017/2023 * . | NOK | 2 000 000 | % | 100,274 | 194 169,05 | 0,22 |
| 3,375 | % Cooperatieve Rabobank UA/New Zealand (MTN) |  |  |  |  |  |  |  |  |  |
|  | 2018/2023  ..............................  | NZD | 1 000 000 | % | 99,393 | 595 518,41 | 0,66 |
| 5,50 | % New Zealand Government Bond 2011/2023  ....  | NZD | 1 000 000 | % | 101,686 | 609 257,04 | 0,68 |
| 0,50 | % New Zealand Government Bond 2020/2024  ....  | NZD | 2 000 000 | % | 94,674 | 1 134 488,55 | 1,26 |
| 2,00 | % New Zealand Government Inflation Linked Bond |  |  |  |  |  |  |
| 2012/2025	NZD | 309 800 | 2 309 800 | 2 000 000 | % | 122,351 | 227 105,86 | 0,25 |
| 2014/2025	PLN | 1 000 000 | 1 000 000 |  | % | 89,031 | 189 543,49 | 0,21 |
| 2017/2023	PLN | 1 000 000 |  |  | % | 97,631 | 207 852,55 | 0,23 |
| 2,25 | % Republic of Poland Government Bond (MTN) |  |  |  |  |  |  |  |  |  |
| 2019/2024  ..............................  | PLN | 1 000 000 | % | 89,355 | 190 233,27 | 0,21 |
| 3,702 % Telia Co., AB 2017/2077 * ..................  | SEK | 2 500 000 | % | 100,171 | 233 815,78 | 0,26 |
| 2,75  % Singapore Government Bond (MTN) 2013/2023  . | SGD | 300 000 | % | 100,393 | 207 606,25 | 0,23 |
| 2,00  % Singapore Government Bond (MTN) 2019/2024  . 1,75  % AerCap Ireland Capital DAC Via AerCap Global | SGD | 400 000 | % | 99,298 | 273 789,15 | 0,30 |
| Aviation Trust 2021/2024	USD | 420 000 |  |  | % | 92,762 | 374 058,46 | 0,41 |
| 2,45 | % AerCap Ireland Capital DAC Via AerCap Global |  |  |  |  |  |  |  |  |  |
| Aviation Trust (MTN) 2021/2026  .............  | USD | 340 000 | % | 86,94 | 283 804,08 | 0,31 |
| 3,125 % Africa Finance Corp. (MTN) 2020/2025  ........  | USD | 2 090 000 | % | 93,912 | 1 884 462,35 | 2,09 |
| 2,634 | % African Export-Import Bank -Reg- (MTN) |  |  |  |  |  |  |  |  |  |
| 2021/2026  ..............................  | USD | 550 000 |  | % | 88,409 | 466 852,04 | 0,52 |
| 5,00  % Arcelik AS -Reg- (MTN) 2013/2023  ...........  | USD | 500 000 | 250 000 | % | 98,292 | 471 854,68 | 0,52 |
| 0,50 | % Argentine Republic Government International |  |  |  |  |  |  |  |  |  |
| Bond (MTN) 2020/2030  ....................  | USD | 574 967 |  | % | 23,066 | 127 331,34 | 0,14 |
| 2,141 % AT&T, Inc. 2021/2024 * ....................  | USD | 200 000 | 295 000 | % | 99,141 | 190 372,13 | 0,21 |
| 5,375 | % Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand -Reg- |  |  |  |  |  |  |  |  |  |
| (MTN) 2020/2025 .........................  | USD | 500 000 | % | 100,525 | 482 574,28 | 0,53 |
| 1,486 % Bank of America Corp. (MTN) 2020/2024 * .....  | USD | 300 000 | % | 97,971 | 282 188,22 | 0,31 |
| 4,875 | % Comision Federal de Electricidad -Reg- |  |  |  |  |  |  |  |  |  |
| 2013/2024	USD | 1 000 000 |  |  | % | 99,852 | 958 687,04 | 1,06 |
| 4,75 | % Corp. Financiera de Desarrollo SA -Reg- (MTN) |  |  |  |  |  |  |  |  |  |
| 2015/2025  ..............................  | USD | 1 000 000 |  | % | 99,102 | 951 486,23 | 1,05 |
| 1,169 % DBS Group Holdings Ltd -144A- 2021/2024  ....  | USD | 400 000 | 200 000 | % | 94,812 | 364 119,04 | 0,40 |
| 4,125 | % Development Bank of Kazakhstan JSC -Reg- |  |  |  |  |  |  |  |  |  |
| (MTN) 2012/2022 .........................  4,875 % Eastern & Southern African Trade & Development Bank (MTN) 2019/2024  ....................  | USD USD | 1 000 000 1 000 000 | % % | 99,747 94,417 | 957 678,93 906 505,17 | 1,06 1,00 |
| 4,125 % Eastern & Southern African Trade & Development Bank (MTN) 2021/2028  ....................  | USD | 600 000 | % | 82,345 | 474 360,56 | 0,53 |
| 6,875 % Ecopetrol SA (MTN) 2020/2030 ..............  | USD | 250 000 | % | 88,288 | 211 915,04 | 0,24 |
| 1,639 | % Emirates Development Bank PJSC (MTN) |  |  |  |  |  |  |  |  |  |
| 2021/2026  ..............................  | USD | 1 200 000 |  |  | % | 91,805 | 1 057 712,58 | 1,17 |
| 8,50  % Energo-Pro AS -Reg- (MTN) 2022/2027 ........  | USD | 800 000 | 1 200 000 | 400 000 | % | 95,048 | 730 050,76 | 0,81 |
| 9,534 | % Eurasian Development Bank -Reg- (MTN) |  |  |  |  |  |  |  |  |  |
| 2012/2022  ..............................  | USD | 1 100 000 |  |  | % | 74,994 | 792 025,73 | 0,88 |
| 3,869 % ING Groep NV 2022/2026 * .................  | USD | 250 000 | 450 000 | 200 000 | % | 98,098 | 235 461,69 | 0,26 |
| 2,67  % Microchip Technology, Inc. 2020/2023  ........  8,75  % Mongolia Government International Bond -Reg- | USD | 500 000 |  |  | % | 98,543 | 473 059,61 | 0,52 |
| (MTN) 2017/2024	USD | 250 000 | 250 000 |  | % | 100,913 | 242 218,45 | 0,27 |
| 5,25 | % Namibia International Bonds -Reg- (MTN) |  |  |  |  |  |  |  |  |  |
| 2015/2025  ..............................  | USD | 700 000 | % | 88,636 | 595 700,93 | 0,66 |
| 2,375 % NatWest Markets PLC -144A- 2020/2023  ......  | USD | 400 000 | % | 98,684 | 378 989,19 | 0,42 |

1,00  % Japan Government Twenty Year Bond
3,25 % Republic of Poland Government Bond (MTN) 2,50  % Republic of Poland Government Bond (MTN)
| Wertpapierbezeichnung | Stück bzw. Anteile bzw. Währung | Nominalbetrag bzw. Bestand | Käufe/ Zugänge im | Verkäufe/ Abgänge Berichtszeitraum |  | Kurs | Kurswert in EUR | %-Anteil am Fonds- vermögen |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 7,625 % Nigeria Government International Bond -Reg- |  |  |  |  |  |  |  |  |
| (MTN) 2018/2025 .........................  | USD | 500 000 |  |  | % | 88,172 | 423 273,21 | 0,47 |
| 7,35  % Peruvian Government International Bond |  |  |  |  |  |  |  |  |
| 2005/2025  ..............................  | USD | 850 000 |  |  | % | 107,854 | 880 187,65 | 0,98 |
| 3,75  % Power Finance Corp., Ltd (MTN) 2019/2024 ....  | USD | 500 000 |  |  | % | 98,919 | 474 864,62 | 0,53 |
| 3,25  % Power Finance Corp., Ltd (MTN) 2019/2024 ....  | USD | 500 000 |  |  | % | 97,662 | 468 830,34 | 0,52 |
| 1,375 % QNB Finance Ltd (MTN) 2021/2026  ..........  | USD | 500 000 | 500 000 |  | % | 91,016 | 436 925,95 | 0,48 |
| 3,50  % REC Ltd (MTN) 2019/2024 ..................  | USD | 1 250 000 |  |  | % | 97,916 | 1 175 124,19 | 1,30 |
| 2,375 % Republic of Italy Government International Bond |  |  |  |  |  |  |  |  |
| (MTN) 2019/2024 .........................  | USD | 400 000 |  | 200 000 | % | 96,818 | 371 822,95 | 0,41 |
| 3,00  % Romanian Government International Bond -Reg- |  |  |  |  |  |  |  |  |  |
| (MTN) 2022/2027 .........................  | USD | 640 000 | 640 000 |  | % | 88,314 | 542 662,26 | 0,60 |
| 1,089 % Santander UK Group Holdings PLC 2021/2025 * . | USD | 400 000 |  | 200 000 | % | 93,796 | 360 217,16 | 0,40 |
| 4,75  % Shimao Group Holdings Ltd (MTN) 2017/2022  ..  | USD | 300 000 |  |  | % | 12,182 | 35 088,11 | 0,04 |
| 0,991 % Standard Chartered PLC -144A- 2021/2025 * ....  | USD | 400 000 |  |  | % | 94,511 | 362 963,07 | 0,40 |
| 3,30  % Take-Two Interactive Software, Inc. 2022/2024  . | USD | 240 000 | 240 000 |  | % | 98,761 | 227 570,94 | 0,25 |
| 5,125 % TC Ziraat Bankasi AS -Reg- (MTN) 2017/2023 ...  | USD | 800 000 |  |  | % | 95,679 | 734 897,39 | 0,81 |
| 5,375 % TC Ziraat Bankasi AS -Reg- (MTN) 2021/2026 ...  | USD | 300 000 |  |  | % | 84,926 | 244 614,40 | 0,27 |
| 1,899 % Tencent Holdings Ltd -Reg- (MTN) 2019/2024 * . | USD | 500 000 |  |  | % | 99,84 | 479 285,91 | 0,53 |
| 5,625 % Third Pakistan International Sukuk Co., Ltd -Reg- |  |  |  |  |  |  |  |  |
| (MTN) 2017/2022 .........................  | USD | 300 000 |  |  | % | 93,877 | 270 396,18 | 0,30 |
| 4,00  % Transnet SOC Ltd -Reg- (MTN) 2012/2022  .....  | USD | 600 000 |  |  | % | 95,874 | 552 296,37 | 0,61 |
| 5,50  % Turkiye Vakiflar Bankasi TAO -Reg- (MTN) |  |  |  |  |  |  |  |  |
| 2021/2026  ..............................  | USD | 300 000 |  |  | % | 82,232 | 236 854,80 | 0,26 |
| 7,75  % Ukraine Government International Bond -Reg- |  |  |  |  |  |  |  |  |  |
| (MTN) 2015/2024 .........................  | USD | 600 000 | % | 25,584 | 147 380,42 | 0,16 |
| 1,625 % United States Treasury Note/Bond (MTN) |  |  |  |  |  |  |  |  |  |
| 2012/2022  ..............................  | USD | 1 000 000 | % | 99,771 | 957 914,00 | 1,06 |
| 2,125 % United States Treasury Note/Bond (MTN) |  |  |  |  |  |  |  |  |  |
| 2017/2024  ..............................  | USD | 2 000 000 | % | 98,551 | 1 892 387,87 | 2,10 |
| 2,125 % United States Treasury Note/Bond (MTN) |  |  |  |  |  |  |  |  |  |
| 2017/2024  ..............................  | USD | 2 100 000 | % | 97,955 | 1 974 996,54 | 2,19 |
| 2,75  % United States Treasury Note/Bond (MTN) |  |  |  |  |  |  |  |  |  |
| 2018/2023  ..............................  | USD | 1 500 000 | % | 99,791 | 1 437 152,29 | 1,59 |
| 2,875 % United States Treasury Note/Bond (MTN) |  |  |  |  |  |  |  |  |  |
| 2018/2023  ..............................  | USD | 1 000 000 | % | 99,939 | 959 526,68 | 1,06 |
| 2,875 % United States Treasury Note/Bond (MTN) |  |  |  |  |  |  |  |  |  |
| 2018/2023  ..............................  | USD | 2 000 000 | 1 000 000 | % | 99,889 | 1 918 078,26 | 2,12 |
| 1,50  % United States Treasury Note/Bond (MTN) |  |  |  |  |  |  |  |  |  |
| 2019/2024  ..............................  | USD | 1 000 000 | % | 96,262 | 924 216,47 | 1,02 |
| 1,50  % United States Treasury Note/Bond 2020/2023  ..  | USD | 1 500 000 | % | 99,447 | 1 432 201,74 | 1,59 |
| 0,50  % United States Treasury Note/Bond 2020/2023  ..  | USD | 1 000 000 | % | 98,457 | 945 293,83 | 1,05 |
| 0,125 % United States Treasury Note/Bond 2020/2023  ..  | USD | 1 500 000 | % | 97,652 | 1 406 351,95 | 1,56 |
| 0,125 % United States Treasury Note/Bond 2021/2024  ..  | USD | 2 000 000 | % | 95,744 | 1 838 494,32 | 2,04 |
| 0,25  % United States Treasury Note/Bond 2021/2024  ..  | USD | 2 100 000 | % | 94,676 | 1 908 878,47 | 2,11 |

An organisierten Märkten zugelassene oder in diese einbezogene Wertpapiere	1 624 128,29	1,80 Verzinsliche Wertpapiere
0,998 % Banque Federative du Credit Mutuel SA
| 2021/2025  ..............................  1,125 % Daimler Trucks Finance North America LLC -144A- 2021/2023 .........................  | USD USD | 300 000 400 000 | 200 000 200 000 | % % | 92,185 96,155 | 265 522,67 369 276,74 | 0,29 0,41 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 1,625 % Daimler Trucks Finance North America LLC -144A- 2021/2024 .........................  | USD | 400 000 |  | % | 94,238 | 361 914,63 | 0,40 |
| 0,856 % DNB Bank ASA -144A- 2021/2025 * ...........  5,625 % Nielsen Finance LLC Via Nielsen Finance Co. -144A- (MTN) 2020/2028 ...................  | USD USD | 400 000 300 000 | 120 000 | % % | 93,107 93,685 | 357 571,10 269 843,15 | 0,40 0,30 |
| Summe Wertpapiervermögen |  |  |  | 90 107 423,92 | 99,80 |
| Derivate (Bei den mit Minus gekennzeichneten Beständen handelt es sich um verkaufte | Positionen) |  |  |  |  |
| Zins-Derivate Forderungen/Verbindlichkeiten |  |  |  | -88 102,00 | -0,10 |
| Zinsterminkontrakte Euro SCHATZ Futures 09/2022 (DB)	Stück | -200 | 210 | 410 | -88 102,00 | -0,10 |
| Devisen-Derivate Forderungen/Verbindlichkeiten |  |  |  | -602 539,41 | -0,67 |
| Devisentermingeschäfte |  |  |  |  |  |
| Devisentermingeschäfte (Kauf) |  |  |  |  |  |
| Offene Positionen CHF/EUR 0,1 Mio. .................................  |  |  |  | 174,50 | 0,00 |
| USD/EUR 9,9 Mio. .................................  |  |  |  | 146 843,49 | 0,16 |

| Stück bzw. Wertpapierbezeichnung	Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- |
|  | Währung | Bestand | im Berichtszeitraum | EUR | vermögen |
| Geschlossene Positionen CHF/EUR 0,1 Mio. .................................  |  |  |  | 1,85 | 0,00 |
| Devisentermingeschäfte (Verkauf) |  |  |  |  |  |
| Offene Positionen EUR/AUD 1,8 Mio. .................................  |  |  |  | -8 172,71 | -0,01 |
| EUR/CAD 4,6 Mio. .................................  |  |  |  | -26 368,00 | -0,03 |
| EUR/CHF 0,6 Mio. .................................  |  |  |  | -7 997,73 | -0,01 |
| EUR/CZK 29,0 Mio. ................................  |  |  |  | -345,47 | 0,00 |
| EUR/DKK 4,0 Mio. .................................  |  |  |  | -84,52 | 0,00 |
| EUR/GBP 2,0 Mio. .................................  |  |  |  | -15 620,91 | -0,02 |
| EUR/JPY 1 715,0 Mio. ..............................  |  |  |  | -172 751,23 | -0,19 |
| EUR/MXN 7,0 Mio. .................................  |  |  |  | -345,75 | 0,00 |
| EUR/NOK 24,4 Mio. ................................  |  |  |  | -633,14 | 0,00 |
| EUR/NZD 4,0 Mio. .................................  |  |  |  | -17 522,98 | -0,02 |
| EUR/PLN 2,9 Mio. .................................  |  |  |  | 908,52 | 0,00 |
| EUR/SEK 2,5 Mio. .................................  |  |  |  | 1 238,62 | 0,00 |
| EUR/SGD 0,7 Mio. .................................  |  |  |  | -3 821,53 | 0,00 |
| EUR/USD 44,2 Mio. ................................  |  |  |  | -498 042,42 | -0,55 |
| Bankguthaben |  |  |  | 257 813,80 | 0,29 |
| Verwahrstelle (täglich fällig) EUR-Guthaben ....................................  | EUR |  |  | 215 227,77 | 0,24 |
| Guthaben in sonstigen EU/EWR-Währungen |  |  |  |  |  |
| Dänische Kronen ..................................  | DKK | 9 935 |  | 1 335,61 | 0,00 |
| Norwegische Kronen ...............................  | NOK | 2 205 |  | 213,46 | 0,00 |
| Polnischer Zloty ...................................  | PLN | 12 101 |  | 2 576,15 | 0,01 |
| Schwedische Kronen ...............................  | SEK | 2 942 |  | 274,72 | 0,00 |
| Tschechische Kronen ...............................  | CZK | 303 |  | 12,25 | 0,00 |
| Guthaben in Nicht-EU/EWR-Währungen |  |  |  |  |  |
| Australischer Dollar ................................  | AUD | 519 |  | 343,64 | 0,00 |
| Britisches Pfund ...................................  | GBP | 357 |  | 416,73 | 0,00 |
| Chinesischer Renminbi ..............................  | CNY | 135 704 |  | 19 462,85 | 0,02 |
| Japanischer Yen ...................................  | JPY | 420 481 |  | 2 970,29 | 0,01 |
| Kanadischer Dollar .................................  | CAD | 952 |  | 708,94 | 0,00 |
| Mexikanischer Peso ................................  | MXN | 3 278 |  | 155,70 | 0,00 |
| Neuseeländischer Dollar .............................  | NZD | 1 913 |  | 1 146,42 | 0,00 |
| Schweizer Franken .................................  | CHF | 745 |  | 748,69 | 0,00 |
| Singapur Dollar ....................................  | SGD | 327 |  | 225,72 | 0,00 |
| Südafrikanischer Rand ..............................  | ZAR | 13 |  | 0,75 | 0,00 |
| US-Dollar ........................................  | USD | 12 492 |  | 11 994,11 | 0,01 |
| Sonstige Vermögensgegenstände |  |  |  | 748 359,96 | 0,83 |
| Abgegrenzte Platzierungsgebühr ** ...................  |  |  |  | 1 628,20 | 0,00 |
| Zinsansprüche .....................................  |  |  |  | 696 407,55 | 0,77 |
| Forderungen aus der Überschreitung des „Expense Cap“ ..  |  |  |  | 25 669,33 | 0,03 |
| Sonstige Ansprüche ................................  |  |  |  | 24 654,88 | 0,03 |
| Summe der Vermögensgegenstände *** |  |  |  | 91 262 764,66 | 101,08 |
| Sonstige Verbindlichkeiten |  |  |  | -131 270,69 | -0,15 |
| Verbindlichkeiten aus Kostenpositionen ................  |  |  |  | -131 270,69 | -0,15 |
| Summe der Verbindlichkeiten | -971 079,08 | -1,08 |
| Fondsvermögen | 90 291 685,58 | 100,00 |
| Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein. |  |  |

Eine Aufstellung über die während des Berichtszeitraums abgeschlossenen Geschäfte, soweit sie nicht mehr in der Vermögensaufstellung erscheinen, ist auf Anforderung kostenlos bei der Verwaltungsgesellschaft erhältlich.
| Anteilwert bzw. umlaufende Anteile | Stück bzw. Währung | Anteilwert in der jeweiligen Währung |
| --- | --- | --- |
| Anteilwert Klasse CHF ICH25 .................................  | CHF | 93,73 |
| Klasse FC ........................................  | EUR | 98,24 |
| Klasse FD ........................................  | EUR | 90,19 |
| Klasse IC50 .......................................  | EUR | 94,81 |
| Klasse ID50 ......................................  | EUR | 91,32 |
| Klasse LC ........................................  | EUR | 97,00 |
| Klasse LD ........................................  | EUR | 92,29 |
| Klasse NC ........................................  | EUR | 92,59 |
| Klasse PFC .......................................  | EUR | 94,58 |
| Klasse TFC .......................................  | EUR | 96,21 |
| Klasse TFD .......................................  | EUR | 91,24 |
| Klasse USD FCH ..................................  | USD | 110,61 |
| Klasse USD LCH ..................................  | USD | 109,01 |
| Klasse USD TFCH .................................  | USD | 104,90 |
| Umlaufende Anteile Klasse CHF ICH25 .................................  | Stück | 100,000 |
| Klasse FC ........................................  | Stück | 198 378,892 |
| Klasse FD ........................................  | Stück | 103,000 |
| Klasse IC50 .......................................  | Stück | 120 893,324 |
| Klasse ID50 ......................................  | Stück | 195,993 |
| Klasse LC ........................................  | Stück | 406 064,525 |
| Klasse LD ........................................  | Stück | 86 597,508 |
| Klasse NC ........................................  | Stück | 25 862,212 |
| Klasse PFC .......................................  | Stück | 665,000 |
| Klasse TFC .......................................  | Stück | 1 207,551 |
| Klasse TFD .......................................  | Stück | 121,000 |
| Klasse USD FCH ..................................  | Stück | 87 618,000 |
| Klasse USD LCH ..................................  | Stück | 318,535 |
| Klasse USD TFCH .................................  | Stück | 24,000 |

Darstellung der Maximalgrenze (gem. CSSF-Rundschreiben 11/512) 14,14% vom Portfoliowert
Potenzieller Risikobetrag für das Marktrisiko (gem. CSSF-Rundschreiben 11/512)
| kleinster potenzieller Risikobetrag .....................  | % | 0,275 |
| --- | --- | --- |
| größter potenzieller Risikobetrag ......................  | % | 1,362 |
| durchschnittlicher potenzieller Risikobetrag ..............  | % | 0,690 |

Die Risikokennzahlen wurden für den Zeitraum vom 1.1.2022 bis 30.6.2022 auf Basis der Methode der historischen Simulation mit den Parametern 99% Konfidenzniveau, 10 Tage Haltedauer unter Verwendung eines effektiven, historischen Beobachtungszeitraumes von einem Jahr berechnet. Als Bewertungsmaßstab wird das Risiko eines derivatefreien Vergleichsvermögens herangezogen. Unter dem Marktrisiko versteht man das Risiko, das sich aus der ungünstigsten Entwicklung von Marktpreisen für das Fondsvermögen ergibt. Bei der Ermittlung des Marktrisikopotenzials wendet die Gesellschaft den absoluten Value at Risk-Ansatzim Sinne des CSSF-Rundschreibens 11/512 an.
Die durchschnittliche Hebelwirkung aus der Nutzung von Derivaten betrug im Berichtszeitraum 1,0, wobei zur Berechnung die Summe der Nominalbeträge der Derivate in Relation zum Fondsvermögen gesetzt wurde (Nominalwertmethode).
Das durch Derivate erzielte zugrunde liegende Exposure gem. Punkt 40 a) der „Leitlinien zu börsengehandelten Indexfonds und anderen OGAW-Themen“ der European Securities and Markets Authority (ESMA) belief sich zum Berichtsstichtag unter Zugrundelegung einer Bruttobetrachtung auf EUR 89 916 949,38.
 Marktschlüssel	 Terminbörsen
DB = Deutsche Bank AG Frankfurt
Vertragspartner der Devisentermingeschäfte
Barclays Bank Ireland PLC, BNP Paribas S.A., Deutsche Bank AG, Goldman Sachs Bank Europe SE, Royal Bank of Canada (UK), State Street Bank International GmbH und UBS AG.
| Devisenkurse (in Mengennotiz) |  |
| --- | --- |
|  |  |  |  | per 30.6.2022 |
| Australischer Dollar ..............  | AUD | 1,508945 | = | EUR	1 |
| Kanadischer Dollar ...............  | CAD | 1,343026 | = | EUR	1 |
| Schweizer Franken ...............  | CHF | 0,995461 | = | EUR	1 |
| Chinesischer Renminbi ............  | CNY | 6,972445 | = | EUR	1 |
| Tschechische Kronen .............  | CZK | 24,737009 | = | EUR	1 |
| Dänische Kronen ................  | DKK | 7,438694 | = | EUR	1 |
| Britisches Pfund .................  | GBP | 0,856432 | = | EUR	1 |
| Japanischer Yen .................  | JPY | 141,562199 | = | EUR	1 |
| Mexikanischer Peso ..............  | MXN | 21,052319 | = | EUR	1 |
| Norwegische Kronen .............  | NOK | 10,328526 | = | EUR	1 |
| Neuseeländischer Dollar ...........  | NZD | 1,669016 | = | EUR	1 |
| Polnischer Zloty .................  | PLN | 4,697128 | = | EUR	1 |
| Schwedische Kronen .............  | SEK | 10,710462 | = | EUR	1 |
| Singapur Dollar ..................  | SGD | 1,450722 | = | EUR	1 |
| US-Dollar ......................  | USD | 1,041549 | = | EUR	1 |
| Südafrikanischer Rand ............  | ZAR | 17,102243 | = | EUR	1 |
| Erläuterungen zur Bewertung |  |  |  |  |

Die Anteilwerte werden in Verantwortung des Verwaltungsrats der SICAV durch die Verwaltungsgesellschaft ermittelt sowie die Bewertung der Vermögenswerte des Fondsvermögens durchgeführt. Die grundsätzliche Kursversorgung sowie die Preisvalidierung erfolgen nach den vom Verwaltungsrat der SICAV auf der Grundlage der in den gesetzlichen Bestimmungen/ Verordnungen bzw. im Prospekt der SICAV definierten Grundsätze für Bewertungsmethoden eingeführten Verfahren.
Sofern keine handelbaren Kurse vorliegen, werden Bewertungsmodelle zur Preisermittlung (abgeleitete Verkehrswerte) genutzt, die zwischen State Street Bank International GmbH, Luxembourg Branch, als externem Price Service Provider und der Verwaltungsgesellschaft abgestimmt sind und sich so weit als möglich auf Marktparameter stützen. Diese Vorgehensweise unterliegt einem permanenten Kontrollprozess. Preisauskünfte Dritter werden durch andere Preisquellen, modellhafte Rechnungen oder durch andere geeignete Verfahren auf Plausibilität geprüft.
Die in diesem Bericht ausgewiesenen Vermögenswerte werden nicht zu abgeleiteten Verkehrswerten bewertet.
Fußnoten
* Variabler Zinssatz.
** Die abgegrenzte Platzierungsgebühr wird über einen Zeitraum von drei Jahren abgeschrieben (entsprechend Artikel 13 f) des Verwaltungsreglements – Allgemeiner Teil des Fonds).
*** Beinhaltet, sofern vorhanden, keine Positionen mit negativem Bestand.