# DWS Invest SDG Global Equities
DWS INVEST SDG GLOBAL EQUITIES

### Performance of share classes (in EUR)
| Share class | ISIN | 6 months |
| --- | --- | --- |
| Class LC | LU1891311356 | -15.5% |
| Class FC | LU1891310895 | -15.2% |
| Class FD | LU1891310978 | -15.2% |
| Class IC | LU1891311190 | -15.1% |
| Class IC100 | LU2471069448 | -4.9% 1 |
| Class IC250 | LU2425458853 | -8.2% 1 |
| Class ID | LU1891311273 | -15.1% |
| Class LD | LU1891311430 | -15.5% |
| Class NC | LU1914384349 | -15.7% |
| Class PFC | LU2208643671 | -16.2% |
| Class TFC | LU1932912360 | -15.2% |
| Class TFD | LU1932912527 | -15.2% |
| Class XC | LU1891311513 | -15.0% |
| Class XD | LU1891311604 | –  2 |
| Class GBP D RD 3 | LU2380221692 | -13.4% |
| Class USD IC50 4 | LU2297064896 | -21.9% |
| Class USD LCH (P) 4 | LU2293006875 | -18.5% |
| Class USD TFCH (P) 4 | LU2293006958 | -18.3% |

1 
Class IC250 launched on January 31, 2022 / Class IC100 launched on May 13, 2022
2 
Last share price calculation on October 15, 2020 (share class still active)
3 
in GBP
4 
in USD
“BVI method” performance, i.e., excluding the initial sales charge.
Past performance is no guide to future results.	As of: June 30, 2022
The format used for complete dates
in security names in the investment
portfolio is “day/month/year”.
DWS Invest SDG Global Equities
| Statement of net assets as of June 30, 2022 |  |
| --- | --- |
|  | Amount in EUR | % of net assets |
| I. Assets |  |  |
| 1. Equities (sectors): Information Technology | 193 763 424.82 | 13.20 |
| Telecommunication Services | 116 156 386.73 | 7.93 |
| Consumer Discretionaries | 396 291 327.09 | 27.01 |
| Energy | 65 804 050.08 | 4.49 |
| Consumer Staples | 35 164 348.90 | 2.40 |
| Financials | 109 152 499.36 | 7.46 |
| Basic Materials | 46 177 760.93 | 3.14 |
| Industrials | 326 177 208.38 | 22.22 |
| Utilities | 109 304 780.73 | 7.45 |
| Total equities | 1 397 991 787.02 | 95.30 |
| 2. Investment fund units Other funds | 58 693 995.48 | 4.00 |
| Total investment fund units | 58 693 995.48 | 4.00 |
| 3. Derivatives | 7 669.48 | 0.00 |
| 4. Cash at bank | 14 154 267.05 | 0.96 |
| 5. Other assets | 4 704 156.84 | 0.32 |
| 6. Receivables from share certificate transactions | 1 017 890.49 | 0.07 |
| II. Liabilities |  |  |
| 1. Other liabilities | -7 566 775.83 | -0.51 |
| 2. Liabilities from share certificate transactions | -2 036 752.49 | -0.14 |
| III. Net assets | 1 466 966 238.04 | 100.00 |

Negligible rounding errors may have arisen due to the rounding of calculated percentages.
| Investment portfolio – June 30, 2022 |  |
| --- | --- |
|  | Count/ | Quantity/ | Purchases/ | Sales/ | Currency | Market price | Total market | % of |
| Security name | units/ currency | principal amount | additions in the | disposals reporting period |  |  | value in EUR | net assets |
| Securities traded on an exchange |  |  |  |  |  |  | 1 397 991 787.02 | 95.30 |
| Equities Canadian National Railway Co. ........................  | Count | 421 053 | 202 032 | 114 498 | CAD | 142.23 | 44 590 624.83 | 3.04 |
| West Fraser Timber Co., Ltd ..........................  | Count | 115 420 | 94 159 | 138 255 | CAD | 95.76 | 8 229 639.08 | 0.56 |
| Landis+Gyr Group AG ...............................  | Count | 85 858 |  | 28 875 | CHF | 49.18 | 4 241 750.05 | 0.29 |
| Novartis AG .......................................  | Count | 94 556 | 94 556 |  | CHF | 80.33 | 7 630 318.05 | 0.52 |
| Genmab A/S ......................................  | Count | 51 958 | 12 208 |  | DKK | 2 302 | 16 079 073.78 | 1.10 |
| Aegon NV ........................................  | Count | 1 898 565 | 2 096 949 | 198 384 | EUR | 4.073 | 7 732 855.25 | 0.53 |
| AIB Group PLC ....................................  | Count | 4 612 640 | 4 612 640 |  | EUR | 2.18 | 10 055 555.20 | 0.69 |
| Alstom SA ........................................  | Count | 468 063 | 39 178 | 126 345 | EUR | 21.36 | 9 997 825.68 | 0.68 |
| AXA SA ..........................................  | Count | 593 976 | 593 976 |  | EUR | 21.42 | 12 722 965.92 | 0.87 |
| Cie de Saint-Gobain .................................  | Count | 417 433 | 82 030 | 29 257 | EUR | 40.11 | 16 743 237.63 | 1.14 |
| Deutsche Telekom AG ...............................  | Count | 3 759 180 | 979 233 |  | EUR | 18.896 | 71 033 465.28 | 4.84 |
| E.ON SE .........................................  | Count | 1 308 487 | 1 308 487 |  | EUR | 7.926 | 10 371 067.96 | 0.71 |
| EDP Renovaveis SA.................................  | Count | 1 112 281 | 302 946 |  | EUR | 22.26 | 24 759 375.06 | 1.69 |
| Grifols SA.........................................  | Count | 656 957 | 454 668 |  | EUR | 18.275 | 12 005 889.18 | 0.82 |
| Infineon Technologies AG ............................  | Count | 269 171 |  | 604 036 | EUR | 22.76 | 6 126 331.96 | 0.42 |
| Kingspan Group PLC ................................  | Count | 98 419 |  | 43 568 | EUR | 56.44 | 5 554 768.36 | 0.38 |
| Koninklijke Philips NV ...............................  | Count | 294 095 |  | 258 668 | EUR | 20.215 | 5 945 130.43 | 0.40 |
| Neste Oyj ........................................  | Count | 345 798 | 10 518 | 234 183 | EUR | 41.82 | 14 461 272.36 | 0.99 |
| SAP SE ..........................................  | Count | 211 771 | 5 615 |  | EUR | 85.45 | 18 095 831.95 | 1.23 |
| Schneider Electric SE ...............................  | Count | 144 983 | 3 259 | 69 155 | EUR | 111.34 | 16 142 407.22 | 1.10 |
| Siemens AG.......................................  | Count | 158 184 | 25 622 | 36 993 | EUR | 96.45 | 15 256 846.80 | 1.04 |
| Signify NV ........................................  | Count | 686 010 | 132 198 | 58 992 | EUR | 31.07 | 21 314 330.70 | 1.45 |
| Solaria Energia y Medio Ambiente SA ..................  | Count | 616 855 | 123 512 |  | EUR | 19.955 | 12 309 341.53 | 0.84 |
| UPM-Kymmene Oyj.................................  | Count | 524 116 | 58 146 | 54 113 | EUR | 28.86 | 15 125 987.76 | 1.03 |
| Veolia Environnement SA ............................  | Count | 2 230 954 | 161 902 | 137 253 | EUR | 23.04 | 51 401 180.16 | 3.50 |
| Vonovia SE........................................  | Count | 840 653 | 327 762 | 15 592 | EUR | 29.11 | 24 471 408.83 | 1.67 |
| AstraZeneca PLC...................................  | Count | 406 471 | 20 178 | 41 428 | GBP | 106.98 | 50 773 767.16 | 3.46 |
| Drax Group PLC....................................  | Count | 1 699 084 | 150 830 | 542 087 | GBP | 6.37 | 12 637 509.94 | 0.86 |
| Informa PLC. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | Count | 1 742 650 | 99 135 |  | GBP | 5.236 | 10 654 106.56 | 0.73 |
| Johnson Matthey PLC ...............................  | Count | 357 455 | 126 198 |  | GBP | 19.06 | 7 955 207.28 | 0.54 |
| Pearson PLC ......................................  | Count | 1 669 526 | 107 864 | 324 767 | GBP | 7.436 | 14 495 720.14 | 0.99 |
| Reckitt Benckiser Group PLC..........................  | Count | 375 911 | 57 198 | 12 364 | GBP | 61.34 | 26 923 780.02 | 1.84 |
| Smurfit Kappa Group PLC ............................  | Count | 471 051 | 38 225 | 144 906 | GBP | 27.03 | 14 866 926.81 | 1.01 |
| Central Japan Railway Co. ............................  | Count | 103 900 | 103 900 |  | JPY | 15 655 | 11 490 034.12 | 0.78 |
| East Japan Railway Co. ..............................  | Count | 244 800 | 6 900 | 11 000 | JPY | 6 938 | 11 997 711.32 | 0.82 |
| Unicharm Corp. ....................................  | Count | 148 900 |  | 45 500 | JPY | 4 540 | 4 775 328.47 | 0.33 |
| Samsung SDI Co., Ltd...............................  | Count | 43 102 | 13 707 |  | KRW | 532 000 | 16 955 891.80 | 1.16 |
| Mowi ASA ........................................  | Count | 1 136 826 | 473 152 | 20 728 | NOK | 225.5 | 24 820 025.08 | 1.69 |
| Scatec ASA .......................................  | Count | 567 576 | 146 769 |  | NOK | 85.38 | 4 691 825.44 | 0.32 |
| Merida Industry Co., Ltd .............................  | Count | 1 441 000 |  | 454 000 | TWD | 255.5 | 11 888 551.40 | 0.81 |
| AbbVie, Inc. .......................................  | Count | 154 890 | 87 285 |  | USD | 152.29 | 22 647 217.71 | 1.54 |
| Acuity Brands, Inc. .................................  | Count | 183 640 | 26 391 | 36 499 | USD | 157.03 | 27 686 624.04 | 1.89 |
| Advanced Drainage Systems, Inc.......................  | Count | 231 899 | 49 922 | 8 719 | USD | 89.04 | 19 824 585.50 | 1.35 |
| American Water Works Co, Inc. .......................  | Count | 72 277 | 4 881 | 27 241 | USD | 146.06 | 10 135 647.61 | 0.69 |
| Aptiv PLC.........................................  | Count | 204 483 | 42 565 | 16 973 | USD | 87.31 | 17 141 202.47 | 1.17 |
| Arista Networks, Inc.................................  | Count | 33 937 | 8 134 | 90 984 | USD | 92.6 | 3 017 202.95 | 0.21 |
| Array Technologies, Inc. ..............................       | Count | 982 401 | 664 146 | 94 589 | USD | 10.6 | 9 998 037.23 | 0.68 |
| BioNTech SE -ADR- .................................  | Count | 27 531 | 5 360 | 15 452 | USD | 144.98 | 3 832 217.68 | 0.26 |
| Bloom Energy Corp. ................................  | Count | 444 465 | 291 191 | 30 600 | USD | 16.05 | 6 849 087.16 | 0.47 |
| Chegg, Inc. .......................................  | Count | 167 452 | 75 466 | 87 495 | USD | 17.7 | 2 845 664.49 | 0.19 |
| Danaher Corp. .....................................  | Count | 66 134 | 17 333 |  | USD | 250.48 | 15 904 423.60 | 1.08 |
| Darling Ingredients, Inc. .............................  | Count | 726 593 | 62 190 | 136 874 | USD | 61.72 | 43 056 350.47 | 2.93 |
| Eli Lilly & Co. ......................................  | Count | 39 507 | 16 678 | 37 342 | USD | 323.1 | 12 255 501.82 | 0.84 |
| Equinix, Inc. .......................................          | Count | 18 220 | 2 203 | 21 423 | USD | 650.77 | 11 384 028.79 | 0.78 |
| Evoqua Water Technologies Corp. ......................  | Count | 122 373 | 37 581 | 170 184 | USD | 31.73 | 3 727 998.83 | 0.25 |
| First Solar, Inc......................................  | Count | 195 326 | 97 919 | 35 724 | USD | 66.05 | 12 386 624.35 | 0.84 |
| Grand Canyon Education, Inc. .........................  | Count | 70 934 |  | 52 261 | USD | 93.87 | 6 392 950.72 | 0.44 |
| Hannon Armstrong Sustainable Infrastructure Capital, Inc. ..  | Count | 165 483 | 14 345 | 145 551 | USD | 36.18 | 5 748 334.56 | 0.39 |
| Medtronic PLC ....................................  | Count | 317 094 |  | 5 387 | USD | 89.51 | 27 250 825.96 | 1.86 |
| Microsoft Corp. ....................................  | Count | 276 270 | 40 980 | 52 149 | USD | 255.12 | 67 670 334.38 | 4.61 |
| Niu Technologies -ADR- ..............................  | Count | 770 746 | 579 411 |  | USD | 8.29 | 6 134 595.03 | 0.42 |
| NVIDIA Corp. ......................................  | Count | 74 344 | 32 832 | 10 093 | USD | 150.54 | 10 745 284.64 | 0.73 |
| Pentair PLC .......................................  | Count | 422 677 |  | 235 946 | USD | 44.77 | 18 168 363.04 | 1.24 |
| Pfizer, Inc. ........................................  | Count | 456 905 | 456 905 |  | USD | 51.5 | 22 591 924.51 | 1.54 |
| Procter & Gamble Co. ...............................  | Count | 206 348 | 93 335 | 8 769 | USD | 142.04 | 28 140 448.58 | 1.92 |
| Prudential Financial, Inc. .............................  | Count | 278 966 | 285 664 | 6 698 | USD | 94.12 | 25 208 864.41 | 1.72 |
| QUALCOMM, Inc. ..................................  | Count | 237 159 | 57 175 | 15 312 | USD | 126.16 | 28 726 411.63 | 1.96 |
| Salesforce, Inc. ....................................  | Count | 63 931 | 4 305 | 73 691 | USD | 162.18 | 9 954 716.18 | 0.68 |
| SLM Corp. ........................................  | Count | 792 280 | 130 858 | 199 965 | USD | 15.55 | 11 828 486.40 | 0.81 |
| Sunrun, Inc. .......................................          | Count | 365 428 | 250 932 | 45 355 | USD | 21.99 | 7 715 199.12 | 0.53 |
| Taiwan Semiconductor Manufacturing Co., Ltd -ADR- ......  | Count | 297 860 | 50 342 | 9 285 | USD | 80.64 | 23 061 247.29 | 1.57 |
| TopBuild Corp. .....................................  | Count | 121 864 | 9 489 | 30 495 | USD | 164.26 | 19 218 847.30 | 1.31 |
| Union Pacific Corp. .................................  | Count | 49 054 | 49 054 |  | USD | 210.23 | 9 901 231.29 | 0.67 |
| UnitedHealth Group, Inc..............................  | Count | 126 733 | 18 370 | 10 296 | USD | 513 | 62 420 489.38 | 4.25 |
| Universal Display Corp. ..............................  | Count | 57 169 | 10 835 | 14 519 | USD | 99.89 | 5 482 803.70 | 0.37 |
| VMware, Inc. ......................................  | Count | 269 284 | 60 309 | 116 810 | USD | 113.65 | 29 383 266.79 | 2.00 |
| Waste Management, Inc. ............................  | Count | 404 421 | 32 462 | 49 784 | USD | 151.06 | 58 654 760.75 | 4.00 |
| Xylem, Inc.........................................  | Count | 48 353 |  | 52 286 | USD | 77.01 | 3 575 120.11 | 0.24 |

| Security name | Count/ units/ currency | Quantity/ principal amount | Purchases/ additions in the | Sales/ disposals reporting period | Currency | Market price | Total market value in EUR | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Investment fund units |  |  |  |  |  |  | 58 693 995.48 | 4.00 |
| In-group fund units Deutsche Global Liquidity Series PLC - Deutsche Managed Dollar Fund -Z- USD - (0.100%) ........................  | Units | 5 860 | 8 798 | 2 937 | USD | 10 431.58 | 58 693 995.48 | 4.00 |
| Total securities portfolio |  |  |  |  |  |  | 1 456 685 782.50 | 99.30 |
| Derivatives (Minus signs denote short positions) |  |  |  |  |  |  |  |  |
| Currency derivatives Receivables/payables |  |  |  |  |  |  | 7 669.48 | 0.00 |
| Forward currency transactions |  |  |  |  |  |  |  |  |
| Forward currency transactions (long) |  |  |  |  |  |  |  |  |
| Open positions USD/EUR 0.4 million ................................  |  |  |  |  |  |  | 5 600.90 | 0.00 |
| Forward currency transactions (short) |  |  |  |  |  |  |  |  |
| Open positions USD/CAD 0.1 million ................................  |  |  |  |  |  |  | -32.77 | 0.00 |
| USD/CHF 0.1 million ................................  |  |  |  |  |  |  | -28.80 | 0.00 |
| USD/DKK 0.1 million ................................  |  |  |  |  |  |  | 209.18 | 0.00 |
| USD/GBP 0.1 million ................................  |  |  |  |  |  |  | 1 072.75 | 0.00 |
| USD/JPY 3.5 million ................................  |  |  |  |  |  |  | 134.01 | 0.00 |
| USD/KRW 24.5 million ..............................  |  |  |  |  |  |  | 192.88 | 0.00 |
| USD/NOK 0.2 million ................................  |  |  |  |  |  |  | 257.29 | 0.00 |
| USD/TWD 1.0 million................................  |  |  |  |  |  |  | 264.04 | 0.00 |
| Cash at bank |  |  |  |  |  |  | 14 154 267.05 | 0.96 |
| Demand deposits at Depositary EUR deposits......................................  | EUR |  |  |  |  |  | 4 295 831.38 | 0.29 |
| Deposits in other EU/EEA currencies |  |  |  |  |  |  |  |  |
| Danish krone ......................................  | DKK | 362 917 |  |  |  |  | 48 787.80 | 0.00 |
| Norwegian krone ...................................  | NOK | 908 201 |  |  |  |  | 87 931.32 | 0.01 |
| Deposits in non-EU/EEA currencies |  |  |  |  |  |  |  |  |
| British pound .....................................  | GBP | 712 651 |  |  |  |  | 832 116.24 | 0.06 |
| Hong Kong dollar ..................................  | HKD | 3 408 149 |  |  |  |  | 417 030.84 | 0.03 |
| Japanese yen......................................  | JPY | 61 994 621 |  |  |  |  | 437 932.03 | 0.03 |
| Canadian dollar ....................................  | CAD | 1 814 914 |  |  |  |  | 1 351 362.06 | 0.09 |
| New Taiwan dollar ..................................  | TWD | 34 655 032 |  |  |  |  | 1 119 026.47 | 0.08 |
| Swiss franc .......................................  | CHF | 34 726 |  |  |  |  | 34 884.12 | 0.00 |
| South Korean won ..................................  | KRW | 4 637 665 116 |  |  |  |  | 3 429 343.33 | 0.23 |
| U.S. dollar ........................................  | USD | 2 187 276 |  |  |  |  | 2 100 021.46 | 0.14 |
| Other assets |  |  |  |  |  |  | 4 704 156.84 | 0.32 |
| Dividends/Distributions receivable .....................  |  |  |  |  |  |  | 974 521.00 | 0.07 |
| Prepaid placement fee * .............................  |  |  |  |  |  |  | 145 487.87 | 0.01 |
| Other receivables ..................................  |  |  |  |  |  |  | 3 584 147.97 | 0.24 |
| Receivables from share certificate transactions |  |  |  |  |  |  | 1 017 890.49 | 0.07 |
| Total assets ** |  |  |  |  |  |  | 1 476 569 827.93 | 100.65 |
| Other liabilities |  |  |  |  |  |  | -7 566 775.83 | -0.51 |
| Liabilities from cost items ............................  |  |  |  |  |  |  | -3 904 010.01 | -0.26 |
| Additional other liabilities.............................  |  |  |  |  |  |  | -3 662 765.82 | -0.25 |
| Liabilities from share certificate transactions |  |  |  |  |  |  | -2 036 752.49 | -0.14 |
| Total liabilities |  |  |  |  |  |  | -9 603 589.89 | -0.65 |
| Net assets |  |  |  |  |  |  | 1 466 966 238.04 | 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 FC .........................................  | EUR | 146.82 |
| Class FD .........................................  | EUR | 144.13 |
| Class IC ..........................................  | EUR | 148.45 |
| Class IC100 .......................................  | EUR | 95.15 |
| Class IC250 .......................................  | EUR | 91.78 |
| Class ID ..........................................  | EUR | 144.47 |
| Class LC .........................................  | EUR | 142.67 |
| Class LD .........................................  | EUR | 142.01 |
| Class NC .........................................  | EUR | 140.37 |
| Class PFC ........................................  | EUR | 110.33 |
| Class TFC.........................................  | EUR | 137.00 |
| Class TFD.........................................  | EUR | 135.29 |
| Class XC .........................................  | EUR | 149.04 |
| Class GBP D RD ...................................  | GBP | 89.22 |
| Class USD IC50 ....................................  | USD | 83.93 |
| Class USD LCH (P) .................................  | USD | 83.59 |
| Class USD TFCH (P). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | USD | 84.45 |
| Number of shares outstanding Class FC .........................................  | Count | 84 403.890 |
| Class FD .........................................  | Count | 100.000 |
| Class IC ..........................................  | Count | 88 624.000 |
| Class IC100 .......................................  | Count | 295.000 |
| Class IC250 .......................................  | Count | 195 262.000 |
| Class ID ..........................................  | Count | 37 953.000 |
| Class LC .........................................  | Count | 397 252.670 |
| Class LD .........................................  | Count | 8 874 329.486 |
| Class NC .........................................  | Count | 134 744.000 |
| Class PFC ........................................  | Count | 111 708.000 |
| Class TFC.........................................  | Count | 221 552.370 |
| Class TFD.........................................  | Count | 4 198.000 |
| Class XC .........................................  | Count | 172 806.475 |
| Class GBP D RD ...................................  | Count | 100.000 |
| Class USD IC50 ....................................  | Count | 146 997.000 |
| Class USD LCH (P) .................................  | Count | 14 267.807 |
| Class USD TFCH (P). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | Count | 1 695.307 |

Composition of the reference portfolio (according to CSSF circular 11/512) MSCI All Country World Index, in EUR
Market risk exposure (value-at-risk) (according to CSSF circular 11/512)
| Lowest market risk exposure .........................  | % | 80.646 |
| --- | --- | --- |
| Highest market risk exposure .........................  | % | 107.557 |
| Average market risk exposure ........................  | % | 92.577 |

The values-at-risk were calculated for the period from January 1, 2022, through June 30, 2022, using historical simulation with a 99% confidence level, a 10-day holding period and an effective historical observation period of one year. The risk in a reference portfolio that does not contain derivatives is used as the measurement benchmark. Market risk is the risk to the fund’s assets arising from an unfavorable change in market prices. The Company determines the potential market risk by means of the relative value-at-risk approachas defined in CSSF circular 11/512.
In the reporting period, the average leverage effect from the use of derivatives was 0.1, whereby the total of the nominal amounts of the derivatives in relation to the fund’s assets was used for the calculation (sum-of-notional approach).
The gross exposure generated via derivatives pursuant to point 40 a) of the “Guidelines on ETFs and other UCITS issues” of the European Securities and Markets Authority (ESMA) totaled EUR 0.00 as of the reporting date.
 Market abbreviations	 Contracting parties for forward currency transactions
Deutsche Bank AG, HSBC France, Morgan Stanley Bank AG, State Street Bank International GmbH and UBS AG.
 Exchange rates (indirect quotes)	
As of June 30, 2022
| Canadian dollar ................. . | CAD | 1.343026 | = | EUR | 1 |
| --- | --- | --- | --- | --- | --- |
| Swiss franc .................... . | CHF | 0.995461 | = | EUR | 1 |
| Danish krone ................... . | DKK | 7.438694 | = | EUR | 1 |
| British pound .................. . | GBP | 0.856432 | = | EUR | 1 |
| Hong Kong dollar ............... . | HKD | 8.172414 | = | EUR | 1 |
| Japanese yen .................. . | JPY | 141.562199 | = | EUR | 1 |
| South Korean won............... . | KRW | 1 352.347861 | = | EUR | 1 |
| Norwegian krone ................ . | NOK | 10.328526 | = | EUR | 1 |
| New Taiwan dollar............... . | TWD | 30.968912 | = | EUR | 1 |
| U.S. dollar ..................... . | USD | 1.041549 | = | EUR | 1 |

 Notes on valuation	
Under the responsibility of the Board of Directors of the SICAV, the Management Company determines the net asset values per share and performs the valuation of the assets of the fund. The basic provision of price data and price validation are performed in accordance with the method introduced by the Board of Directors of the SICAV on the basis of the legal and regulatory requirements or the principles for valuation methods defined in the SICAV’s prospectus.
If no trading prices are available, prices are determined with the aid of valuation models (derived market values) which are agreed between State Street Bank International GmbH, Luxembourg Branch, as external price service provider and the Management Company and which are based as far as possible on market parameters. This procedure is subject to an ongoing monitoring process. The plausibility of price information from third parties is checked through other pricing sources, model calculations or other suitable procedure.
Assets reported in this report are valued to a small extent at derived market values.
The management fee / all-in fee rates in effect as of the reporting date for the investment fund units held in the securities portfolio are shown in parentheses. A plus sign means that a performance-based fee may also be charged. As the investment fund held units of other investment funds (target funds) in the reporting period, further costs, charges and fees may have been incurred at the level of these individual target funds.
 Footnotes	
* 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 SDG Global Equities
DWS INVEST SDG GLOBAL EQUITIES

### Wertentwicklung der Anteilklassen (in EUR)
| Anteilklasse | ISIN | 6 Monate |
| --- | --- | --- |
| Klasse LC | LU1891311356 | -15,5% |
| Klasse FC | LU1891310895 | -15,2% |
| Klasse FD | LU1891310978 | -15,2% |
| Klasse IC | LU1891311190 | -15,1% |
| Klasse IC100 | LU2471069448 | -4,9% 1) |
| Klasse IC250 | LU2425458853 | -8,2% 1) |
| Klasse ID | LU1891311273 | -15,1% |
| Klasse LD | LU1891311430 | -15,5% |
| Klasse NC | LU1914384349 | -15,7% |
| Klasse PFC | LU2208643671 | -16,2% |
| Klasse TFC | LU1932912360 | -15,2% |
| Klasse TFD | LU1932912527 | -15,2% |
| Klasse XC | LU1891311513 | -15,0% |
| Klasse XD | LU1891311604 | –  2) |
| Klasse GBP D RD 3) | LU2380221692 | -13,4% |
| Klasse USD IC50 4) | LU2297064896 | -21,9% |
| Klasse USD LCH (P) 4) | LU2293006875 | -18,5% |
| Klasse USD TFCH (P) 4) | LU2293006958 | -18,3% |

1) 
Klasse IC250 aufgelegt am 31.1.2022 / Klasse IC100 aufgelegt am 13.5.2022
2) 
Letzte Anteilpreisberechnung am 15.10.2020 (Anteilklasse noch aktiv)
3) 
in GBP
4) 
in USD
Wertentwicklung nach BVI-Methode, d. h. ohne Berücksichtigung des Ausgabeaufschlages.
Wertentwicklungen der Vergangenheit ermöglichen keine Prognose für die Zukunft.	Stand: 30.6.2022
DWS Invest SDG Global Equities
| Vermögensübersicht zum 30.6.2022 |  |
| --- | --- |
|  | Bestand in EUR | %-Anteil am Fondsvermögen |
| I. Vermögensgegenstände |  |  |
| 1. Aktien (Branchen) Informationstechnologie | 193 763 424,82 | 13,20 |
| Telekommunikationsdienste | 116 156 386,73 | 7,93 |
| Dauerhafte Konsumgüter | 396 291 327,09 | 27,01 |
| Energie | 65 804 050,08 | 4,49 |
| Hauptverbrauchsgüter | 35 164 348,90 | 2,40 |
| Finanzsektor | 109 152 499,36 | 7,46 |
| Grundstoffe | 46 177 760,93 | 3,14 |
| Industrien | 326 177 208,38 | 22,22 |
| Versorger | 109 304 780,73 | 7,45 |
| Summe Aktien | 1 397 991 787,02 | 95,30 |
| 2. Investmentanteile Sonstige Fonds | 58 693 995,48 | 4,00 |
| Summe Investmentanteile | 58 693 995,48 | 4,00 |
| 3. Derivate | 7 669,48 | 0,00 |
| 4. Bankguthaben | 14 154 267,05 | 0,96 |
| 5. Sonstige Vermögensgegenstände | 4 704 156,84 | 0,32 |
| 6. Forderungen aus Anteilscheingeschäften | 1 017 890,49 | 0,07 |
| II. Verbindlichkeiten |  |  |
| 1. Sonstige Verbindlichkeiten | -7 566 775,83 | -0,51 |
| 2. Verbindlichkeiten aus Anteilscheingeschäften | -2 036 752,49 | -0,14 |
| III. Fondsvermögen | 1 466 966 238,04 | 100,00 |
| Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein. |  |  |

| Vermögensaufstellung zum 30.6.2022 |  |
| --- | --- |
|  | Stück bzw. | Nominalbetrag | Käufe/ | Verkäufe/ | Währung | Kurs | Kurswert | %-Anteil am |
| Wertpapierbezeichnung | Anteile bzw. | bzw. | Zugänge | Abgänge |  |  | in | Fonds- |
| Währung	Bestand	im Berichtszeitraum	EUR	vermögen |
| Börsengehandelte Wertpapiere |  |  |  |  |  |  | 1 397 991 787,02 | 95,30 |
| Aktien Canadian National Railway Co. .......................  | Stück | 421 053 | 202 032 | 114 498 | CAD | 142,23 | 44 590 624,83 | 3,04 |
| West Fraser Timber Co., Ltd  ........................  | Stück | 115 420 | 94 159 | 138 255 | CAD | 95,76 | 8 229 639,08 | 0,56 |
| Landis+Gyr Group AG  .............................  | Stück | 85 858 |  | 28 875 | CHF | 49,18 | 4 241 750,05 | 0,29 |
| Novartis AG  .....................................  | Stück | 94 556 | 94 556 |  | CHF | 80,33 | 7 630 318,05 | 0,52 |
| Genmab A/S .....................................  | Stück | 51 958 | 12 208 |  | DKK | 2 302 | 16 079 073,78 | 1,10 |
| Aegon NV  .......................................  | Stück | 1 898 565 | 2 096 949 | 198 384 | EUR | 4,073 | 7 732 855,25 | 0,53 |
| AIB Group PLC  ...................................  | Stück | 4 612 640 | 4 612 640 |  | EUR | 2,18 | 10 055 555,20 | 0,69 |
| Alstom SA  ......................................  | Stück | 468 063 | 39 178 | 126 345 | EUR | 21,36 | 9 997 825,68 | 0,68 |
| AXA SA .........................................  | Stück | 593 976 | 593 976 |  | EUR | 21,42 | 12 722 965,92 | 0,87 |
| Cie de Saint-Gobain  ...............................  | Stück | 417 433 | 82 030 | 29 257 | EUR | 40,11 | 16 743 237,63 | 1,14 |
| Deutsche Telekom AG  .............................  | Stück | 3 759 180 | 979 233 |  | EUR | 18,896 | 71 033 465,28 | 4,84 |
| E.ON SE  ........................................  | Stück | 1 308 487 | 1 308 487 |  | EUR | 7,926 | 10 371 067,96 | 0,71 |
| EDP Renovaveis SA  ...............................  | Stück | 1 112 281 | 302 946 |  | EUR | 22,26 | 24 759 375,06 | 1,69 |
| Grifols SA  .......................................  | Stück | 656 957 | 454 668 |  | EUR | 18,275 | 12 005 889,18 | 0,82 |
| Infineon Technologies AG  ..........................  | Stück | 269 171 |  | 604 036 | EUR | 22,76 | 6 126 331,96 | 0,42 |
| Kingspan Group PLC  ..............................  | Stück | 98 419 |  | 43 568 | EUR | 56,44 | 5 554 768,36 | 0,38 |
| Koninklijke Philips NV ..............................  | Stück | 294 095 |  | 258 668 | EUR | 20,215 | 5 945 130,43 | 0,40 |
| Neste Oyj  .......................................  | Stück | 345 798 | 10 518 | 234 183 | EUR | 41,82 | 14 461 272,36 | 0,99 |
| SAP SE  .........................................  | Stück | 211 771 | 5 615 |  | EUR | 85,45 | 18 095 831,95 | 1,23 |
| Schneider Electric SE  ..............................  | Stück | 144 983 | 3 259 | 69 155 | EUR | 111,34 | 16 142 407,22 | 1,10 |
| Siemens AG  .....................................  | Stück | 158 184 | 25 622 | 36 993 | EUR | 96,45 | 15 256 846,80 | 1,04 |
| Signify NV .......................................  | Stück | 686 010 | 132 198 | 58 992 | EUR | 31,07 | 21 314 330,70 | 1,45 |
| Solaria Energia y Medio Ambiente SA  .................  | Stück | 616 855 | 123 512 |  | EUR | 19,955 | 12 309 341,53 | 0,84 |
| UPM-Kymmene Oyj  ...............................  | Stück | 524 116 | 58 146 | 54 113 | EUR | 28,86 | 15 125 987,76 | 1,03 |
| Veolia Environnement SA  ..........................  | Stück | 2 230 954 | 161 902 | 137 253 | EUR | 23,04 | 51 401 180,16 | 3,50 |
| Vonovia SE  ......................................  | Stück | 840 653 | 327 762 | 15 592 | EUR | 29,11 | 24 471 408,83 | 1,67 |
| AstraZeneca PLC  .................................  | Stück | 406 471 | 20 178 | 41 428 | GBP | 106,98 | 50 773 767,16 | 3,46 |
| Drax Group PLC  ..................................  | Stück | 1 699 084 | 150 830 | 542 087 | GBP | 6,37 | 12 637 509,94 | 0,86 |
| Informa PLC  .....................................  | Stück | 1 742 650 | 99 135 |  | GBP | 5,236 | 10 654 106,56 | 0,73 |
| Johnson Matthey PLC  .............................  | Stück | 357 455 | 126 198 |  | GBP | 19,06 | 7 955 207,28 | 0,54 |
| Pearson PLC .....................................  | Stück | 1 669 526 | 107 864 | 324 767 | GBP | 7,436 | 14 495 720,14 | 0,99 |
| Reckitt Benckiser Group PLC  ........................  | Stück | 375 911 | 57 198 | 12 364 | GBP | 61,34 | 26 923 780,02 | 1,84 |
| Smurfit Kappa Group PLC  ..........................  | Stück | 471 051 | 38 225 | 144 906 | GBP | 27,03 | 14 866 926,81 | 1,01 |
| Central Japan Railway Co.  ..........................  | Stück | 103 900 | 103 900 |  | JPY | 15 655 | 11 490 034,12 | 0,78 |
| East Japan Railway Co.  ............................  | Stück | 244 800 | 6 900 | 11 000 | JPY | 6 938 | 11 997 711,32 | 0,82 |
| Unicharm Corp.  ..................................  | Stück | 148 900 |  | 45 500 | JPY | 4 540 | 4 775 328,47 | 0,33 |
| Samsung SDI Co., Ltd  .............................  | Stück | 43 102 | 13 707 |  | KRW | 532 000 | 16 955 891,80 | 1,16 |
| Mowi ASA  ......................................  | Stück | 1 136 826 | 473 152 | 20 728 | NOK | 225,5 | 24 820 025,08 | 1,69 |
| Scatec ASA  .....................................  | Stück | 567 576 | 146 769 |  | NOK | 85,38 | 4 691 825,44 | 0,32 |
| Merida Industry Co., Ltd  ...........................  | Stück | 1 441 000 |  | 454 000 | TWD | 255,5 | 11 888 551,40 | 0,81 |
| AbbVie, Inc.  .....................................  | Stück | 154 890 | 87 285 |  | USD | 152,29 | 22 647 217,71 | 1,54 |
| Acuity Brands, Inc. ................................  | Stück | 183 640 | 26 391 | 36 499 | USD | 157,03 | 27 686 624,04 | 1,89 |
| Advanced Drainage Systems, Inc.  ....................  | Stück | 231 899 | 49 922 | 8 719 | USD | 89,04 | 19 824 585,50 | 1,35 |
| American Water Works Co, Inc.  .....................  | Stück | 72 277 | 4 881 | 27 241 | USD | 146,06 | 10 135 647,61 | 0,69 |
| Aptiv PLC  .......................................  | Stück | 204 483 | 42 565 | 16 973 | USD | 87,31 | 17 141 202,47 | 1,17 |
| Arista Networks, Inc.  ..............................  | Stück | 33 937 | 8 134 | 90 984 | USD | 92,6 | 3 017 202,95 | 0,21 |
| Array Technologies, Inc. ............................  | Stück | 982 401 | 664 146 | 94 589 | USD | 10,6 | 9 998 037,23 | 0,68 |
| BioNTech SE -ADR-  ...............................  | Stück | 27 531 | 5 360 | 15 452 | USD | 144,98 | 3 832 217,68 | 0,26 |
| Bloom Energy Corp. ...............................  | Stück | 444 465 | 291 191 | 30 600 | USD | 16,05 | 6 849 087,16 | 0,47 |
| Chegg, Inc. ......................................  | Stück | 167 452 | 75 466 | 87 495 | USD | 17,7 | 2 845 664,49 | 0,19 |
| Danaher Corp.  ...................................  | Stück | 66 134 | 17 333 |  | USD | 250,48 | 15 904 423,60 | 1,08 |
| Darling Ingredients, Inc. ............................  | Stück | 726 593 | 62 190 | 136 874 | USD | 61,72 | 43 056 350,47 | 2,93 |
| Eli Lilly & Co.  ....................................  | Stück | 39 507 | 16 678 | 37 342 | USD | 323,1 | 12 255 501,82 | 0,84 |
| Equinix, Inc.  .....................................  | Stück | 18 220 | 2 203 | 21 423 | USD | 650,77 | 11 384 028,79 | 0,78 |
| Evoqua Water Technologies Corp. ....................  | Stück | 122 373 | 37 581 | 170 184 | USD | 31,73 | 3 727 998,83 | 0,25 |
| First Solar, Inc. ...................................  | Stück | 195 326 | 97 919 | 35 724 | USD | 66,05 | 12 386 624,35 | 0,84 |
| Grand Canyon Education, Inc.  .......................  | Stück | 70 934 |  | 52 261 | USD | 93,87 | 6 392 950,72 | 0,44 |
| Hannon Armstrong Sustainable Infrastructure Capital, Inc. . | Stück | 165 483 | 14 345 | 145 551 | USD | 36,18 | 5 748 334,56 | 0,39 |
| Medtronic PLC  ...................................  | Stück | 317 094 |  | 5 387 | USD | 89,51 | 27 250 825,96 | 1,86 |
| Microsoft Corp.  ..................................  | Stück | 276 270 | 40 980 | 52 149 | USD | 255,12 | 67 670 334,38 | 4,61 |
| Niu Technologies -ADR-  ............................  | Stück | 770 746 | 579 411 |  | USD | 8,29 | 6 134 595,03 | 0,42 |
| NVIDIA Corp.  ....................................  | Stück | 74 344 | 32 832 | 10 093 | USD | 150,54 | 10 745 284,64 | 0,73 |
| Pentair PLC  .....................................  | Stück | 422 677 |  | 235 946 | USD | 44,77 | 18 168 363,04 | 1,24 |
| Pfizer, Inc.  ......................................  | Stück | 456 905 | 456 905 |  | USD | 51,5 | 22 591 924,51 | 1,54 |
| Procter & Gamble Co.  .............................  | Stück | 206 348 | 93 335 | 8 769 | USD | 142,04 | 28 140 448,58 | 1,92 |
| Prudential Financial, Inc.  ...........................  | Stück | 278 966 | 285 664 | 6 698 | USD | 94,12 | 25 208 864,41 | 1,72 |
| QUALCOMM, Inc.  ................................  | Stück | 237 159 | 57 175 | 15 312 | USD | 126,16 | 28 726 411,63 | 1,96 |
| Salesforce, Inc. ...................................  | Stück | 63 931 | 4 305 | 73 691 | USD | 162,18 | 9 954 716,18 | 0,68 |
| SLM Corp.  ......................................  | Stück | 792 280 | 130 858 | 199 965 | USD | 15,55 | 11 828 486,40 | 0,81 |
| Sunrun, Inc.  .....................................  | Stück | 365 428 | 250 932 | 45 355 | USD | 21,99 | 7 715 199,12 | 0,53 |
| Taiwan Semiconductor Manufacturing Co., Ltd -ADR-  ....  | Stück | 297 860 | 50 342 | 9 285 | USD | 80,64 | 23 061 247,29 | 1,57 |
| TopBuild Corp.  ...................................  | Stück | 121 864 | 9 489 | 30 495 | USD | 164,26 | 19 218 847,30 | 1,31 |
| Union Pacific Corp. ................................  | Stück | 49 054 | 49 054 |  | USD | 210,23 | 9 901 231,29 | 0,67 |
| UnitedHealth Group, Inc.  ...........................  | Stück | 126 733 | 18 370 | 10 296 | USD | 513 | 62 420 489,38 | 4,25 |
| Universal Display Corp.  ............................  | Stück | 57 169 | 10 835 | 14 519 | USD | 99,89 | 5 482 803,70 | 0,37 |
| VMware, Inc.  ....................................  | Stück | 269 284 | 60 309 | 116 810 | USD | 113,65 | 29 383 266,79 | 2,00 |
| Waste Management, Inc.  ..........................  | Stück | 404 421 | 32 462 | 49 784 | USD | 151,06 | 58 654 760,75 | 4,00 |
| Xylem, Inc. ......................................  | Stück | 48 353 |  | 52 286 | USD | 77,01 | 3 575 120,11 | 0,24 |

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

| Investmentanteile |  |  |  |  |  |  | 58 693 995,48 | 4,00 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Gruppeneigene Investmentanteile Deutsche Global Liquidity Series PLC - Deutsche Managed Dollar Fund -Z- USD - (0,100%) .......................  | Anteile | 5 860 | 8 798 | 2 937 | USD | 10 431,58 | 58 693 995,48 | 4,00 |
| Summe Wertpapiervermögen |  |  |  |  |  |  | 1 456 685 782,50 | 99,30 |
| Derivate (Bei den mit Minus gekennzeichneten Beständen handelt es sich um verkaufte Positionen) |  |  |
| Devisen-Derivate Forderungen/Verbindlichkeiten | 7 669,48 | 0,00 |
| Devisentermingeschäfte |  |  |
| Devisentermingeschäfte (Kauf) |  |  |
| Offene Positionen USD/EUR 0,4 Mio. .................................  | 5 600,90 | 0,00 |
| Devisentermingeschäfte (Verkauf) |  |  |
| Offene Positionen USD/CAD 0,1 Mio. .................................  | -32,77 | 0,00 |
| USD/CHF 0,1 Mio. .................................  | -28,80 | 0,00 |
| USD/DKK 0,1 Mio. .................................  | 209,18 | 0,00 |
| USD/GBP 0,1 Mio. .................................  | 1 072,75 | 0,00 |
| USD/JPY 3,5 Mio. .................................  | 134,01 | 0,00 |
| USD/KRW 24,5 Mio. ...............................  | 192,88 | 0,00 |
| USD/NOK 0,2 Mio. .................................  | 257,29 | 0,00 |
| USD/TWD 1,0 Mio. ................................  | 264,04 | 0,00 |
| Bankguthaben | 14 154 267,05 | 0,96 |
| Verwahrstelle (täglich fällig) EUR-Guthaben	EUR | 4 295 831,38 | 0,29 |
| Guthaben in sonstigen EU/EWR-Währungen |  |  |
| Dänische Kronen ..................................	DKK	362 917 | 48 787,80 | 0,00 |
| Norwegische Kronen ...............................	NOK	908 201 | 87 931,32 | 0,01 |
| Guthaben in Nicht-EU/EWR-Währungen |  |  |
| Britisches Pfund ...................................	GBP	712 651 | 832 116,24 | 0,06 |
| Hongkong Dollar ...................................	HKD	3 408 149 | 417 030,84 | 0,03 |
| Japanischer Yen ...................................	JPY	61 994 621 | 437 932,03 | 0,03 |
| Kanadischer Dollar .................................	CAD	1 814 914 | 1 351 362,06 | 0,09 |
| Neue Taiwan Dollar ................................	TWD	34 655 032 | 1 119 026,47 | 0,08 |
| Schweizer Franken .................................	CHF	34 726 | 34 884,12 | 0,00 |
| Südkoreanischer Won ..............................	KRW  4 637 665 116 | 3 429 343,33 | 0,23 |
| US-Dollar ........................................	USD	2 187 276 | 2 100 021,46 | 0,14 |
| Sonstige Vermögensgegenstände | 4 704 156,84 | 0,32 |
| Dividenden- / Ausschüttungsansprüche .................  | 974 521,00 | 0,07 |
| Abgegrenzte Platzierungsgebühr * ....................  | 145 487,87 | 0,01 |
| Sonstige Ansprüche ................................  | 3 584 147,97 | 0,24 |
| Forderungen aus Anteilscheingeschäften | 1 017 890,49 | 0,07 |
| Summe der Vermögensgegenstände ** | 1 476 569 827,93 | 100,65 |
| Sonstige Verbindlichkeiten | -7 566 775,83 | -0,51 |
| Verbindlichkeiten aus Kostenpositionen ................  | -3 904 010,01 | -0,26 |
| Andere sonstige Verbindlichkeiten .....................  | -3 662 765,82 | -0,25 |
| Verbindlichkeiten aus Anteilscheingeschäften | -2 036 752,49 | -0,14 |
| Summe der Verbindlichkeiten | -9 603 589,89 | -0,65 |
| Fondsvermögen | 1 466 966 238,04 | 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 FC ........................................  | EUR | 146,82 |
| Klasse FD ........................................  | EUR | 144,13 |
| Klasse IC .........................................  | EUR | 148,45 |
| Klasse IC100 ......................................  | EUR | 95,15 |
| Klasse IC250 ......................................  | EUR | 91,78 |
| Klasse ID ........................................  | EUR | 144,47 |
| Klasse LC ........................................  | EUR | 142,67 |
| Klasse LD ........................................  | EUR | 142,01 |
| Klasse NC ........................................  | EUR | 140,37 |
| Klasse PFC .......................................  | EUR | 110,33 |
| Klasse TFC .......................................  | EUR | 137,00 |
| Klasse TFD .......................................  | EUR | 135,29 |
| Klasse XC ........................................  | EUR | 149,04 |
| Klasse GBP D RD ..................................  | GBP | 89,22 |
| Klasse USD IC50 ..................................  | USD | 83,93 |
| Klasse USD LCH (P) ................................  | USD | 83,59 |
| Klasse USD TFCH (P) ...............................  | USD | 84,45 |
| Umlaufende Anteile Klasse FC ........................................  | Stück | 84 403,890 |
| Klasse FD ........................................  | Stück | 100,000 |
| Klasse IC .........................................  | Stück | 88 624,000 |
| Klasse IC100 ......................................  | Stück | 295,000 |
| Klasse IC250 ......................................  | Stück | 195 262,000 |
| Klasse ID ........................................  | Stück | 37 953,000 |
| Klasse LC ........................................  | Stück | 397 252,670 |
| Klasse LD ........................................  | Stück | 8 874 329,486 |
| Klasse NC ........................................  | Stück | 134 744,000 |
| Klasse PFC .......................................  | Stück | 111 708,000 |
| Klasse TFC .......................................  | Stück | 221 552,370 |
| Klasse TFD .......................................  | Stück | 4 198,000 |
| Klasse XC ........................................  | Stück | 172 806,475 |
| Klasse GBP D RD ..................................  | Stück | 100,000 |
| Klasse USD IC50 ..................................  | Stück | 146 997,000 |
| Klasse USD LCH (P) ................................  | Stück | 14 267,807 |
| Klasse USD TFCH (P) ...............................  | Stück | 1 695,307 |

Zusammensetzung des Referenzportfolios (gem. CSSF-Rundschreiben 11/512) MSCI All Country World Index, in EUR
Potenzieller Risikobetrag für das Marktrisiko (gem. CSSF-Rundschreiben 11/512)
| kleinster potenzieller Risikobetrag .....................  | % | 80,646 |
| --- | --- | --- |
| größter potenzieller Risikobetrag ......................  | % | 107,557 |
| durchschnittlicher potenzieller Risikobetrag ..............  | % | 92,577 |

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

 Erläuterungen zur Bewertung	
Die Anteilwerte werden in Verantwortung des Verwaltungsrats der SICAV durch die Verwaltungsgesellschaft ermittelt sowie die Bewertung der Vermögenswerte des Fondsvermögens durchgeführt. Die grundsätzliche Kursversorgung sowie die Preisvalidierung erfolgen nach den vom Verwaltungsrat der SICAV auf der Grundlage der in den gesetzlichen Bestimmungen/ Verordnungen bzw. im Prospekt der SICAV definierten Grundsätze für Bewertungsmethoden eingeführten Verfahren.
Sofern keine handelbaren Kurse vorliegen, werden Bewertungsmodelle zur Preisermittlung (abgeleitete Verkehrswerte) genutzt, die zwischen State Street Bank International GmbH, Luxembourg Branch, als externem Price Service Provider und der Verwaltungsgesellschaft abgestimmt sind und sich so weit als möglich auf Marktparameter stützen. Diese Vorgehensweise unterliegt einem permanenten Kontrollprozess. Preisauskünfte Dritter werden durch andere Preisquellen, modellhafte Rechnungen oder durch andere geeignete Verfahren auf Plausibilität geprüft.
Die in diesem Bericht ausgewiesenen Vermögenswerte werden in geringem Maße zu abgeleiteten Verkehrswerten bewertet.
In Klammern sind die aktuellen Verwaltungsvergütungs-/Kostenpauschalsätze zum Berichtsstichtag für die im Wertpapiervermögen enthaltenen Investmentanteile aufgeführt. Das Zeichen + bedeutet, dass darüber hinaus ggf. eine erfolgsabhängige Vergütung berechnet werden kann. Da der Investmentfonds im Berichtszeitraum andere Investmentanteile („Zielfonds“) hielt, können weitere Kosten, Gebühren und Vergütungen auf Ebene des Zielfonds angefallen sein.
 Fußnoten	
* 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.