# Contents
VermögensManagement Stars of Multi Asset
Fund Assets in %
75 
60 53.0 56.4
45
30
15
0
Luxembourg	Ireland	Germany	Austria	Cash reserves, other assets
| Development of net assets and | unit value in a 3-year comparison |  |
| --- | --- | --- |
|  |  | 30/06/2020 | 31/12/2019 | 31/12/2018 | 31/12/2017 |
| Net assets in EUR m |  |  |  |  |  |
| - Unit class A (EUR) | WKN: 979 754/ISIN: DE0009797548 | 1,327.0 | 1,427.1 | 1,375.4 | 1,519.2 |
| - Unit class MeinPlan A (EUR)  1) | WKN: SPA R01/ISIN: DE000SPAR017 | 4.8 | 2.8 | 0.2 | -- |
| - Unit class P (EUR) | WKN: A2A MPR/ISIN: DE000A2AMPR1 | 395.2 | 416.0 | 339.8 | 307.3 |
| Unit value in EUR |  |  |  |  |  |
| - Unit class A (EUR) | WKN: 979 754/ISIN: DE0009797548 | 109.17 | 113.53 | 103.86 | 114.82 |
| - Unit class MeinPlan A (EUR)  1) | WKN: SPA R01/ISIN: DE000SPAR017 | 100.91 | 104.47 | 94.01 | -- |
| - Unit class P (EUR) | WKN: A2A MPR/ISIN: DE000A2AMPR1 | 1,002.39 | 1,041.16 | 949.96 | 1,045.81 |
| 1)  Launch date: 01/10/2018 |  |  |  |  |  |

| Asset overview at 30/06/2020 |  |
| --- | --- |
| Breakdown by asset category – country | Market value in EUR | % of net assets  *) |  | Breakdown by asset category – currency | Market value in EUR | % of net assets  *) |
| I. Assets |  |  |  | I. Assets |  |  |
| 1. Investment units | 1,716,522,274.60 | 99.39 |  | 1. Investment units | 1,716,522,274.60 | 99.39 |
| Germany | 642,275,430.31 | 37.21 |  | EUR | 1,581,094,692.09 | 91.55 |
| Ireland | 67,323,064.91 | 3.90 |  | USD | 135,427,582.51 | 7.84 |
| Luxembourg | 974,375,505.56 | 56.40 |  | 2. Derivatives | 75,517.25 | 0.00 |
| Austria | 32,548,273.82 | 1.88 |  | 3. Bank deposits, money market | 12,125,072.78 | 0.71 |
| 2. Derivatives | 75,517.25 | 0.00 |  | instruments, money market funds and |  |  |
| 3. Bank deposits, money market | 12,125,072.78 | 0.71 |  | money market-related funds |  |  |
| instruments, money market funds and |  |  |  | 4. Other assets | 5,660,140.44 | 0.33 |
| money market-related funds |  |  |  | II. Liabilities | -7,390,637.58 | -0.43 |
| 4. Other assets | 5,660,140.44 | 0.33 |  | III. Fund assets | 1,726,992,367.49 | 100.00 |
| II. Liabilities | -7,390,637.58 | -0.43 |  |  |  |  |
| III. Fund assets | 1,726,992,367.49 | 100.00 |  |  |  |  |

*) 
Minor rounding differences may be the result of percentage rounding during the calculation.

#### Investment portfolio at 30/06/2020
ISIN	Securities	Market	Shares/	Balance   Purchases Redemptions	Price	Market value	% of net
Units/	30/06/2020	EUR	assets
Currency	in the period under review
Securities fund units	1,716,522,274.60	99.39
Proprietary securities fund units of investment management company	104,752,277.10	6.07
| Germany |  |  |  |  |  |  | 104,752,277.10 | 6.07 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| DE0008476250 | Kapital Plus Inhaber-Anteile A | UNT | 1,594,403 | 54,436 | 0 EUR | 65.700 | 104,752,277.10 | 6.07 |
| Group investment | fund units |  |  |  |  |  | 83,283,928.66 | 4.82 |
| Luxembourg |  |  |  |  |  |  | 83,283,928.66 | 4.82 |
| LU1309437561 | AGIF-All.Gl.Dy.Mul.Ass.Stra.50 |  |  |  |  |  |  |  |
| Inhaber-Anteile WT	UNT | 42,958 | 0 | 15,324 USD | 1,086.600 | 41,593,372.96 | 2.41 |
| LU1584111725 | AGIF-All.Multi Asst Long/Short |  |  |  |  |  |  |  |
| Inhaber-Ant.W9 (H2)	UNT | 470 | 0 | 50 EUR 88,703.310 | 41,690,555.70 | 2.41 |
| Non-group security investment units	1,528,486,068.84	88.50 |
| Germany |  |  |  |  |  |  | 537,523,153.21 | 31.14 |
| DE000A2DR2M0 | ACATIS GANÉ VALUE EVENT FONDS |  |  |  |  |  |  |  |
|  | Inhaber-Anteile 53.574 D DE000A2DR2M0 | UNT | 98,033 | 53,574 | 92,204 EUR | 1,250.160 | 122,556,935.28 | 7.10 |
| DE000DWS2ND0 | DWS Dynamic Opportunities Inhaber-Anteile SC | UNT | 2,612,610 | 137,792 | 0 EUR | 47.660 | 124,516,992.60 | 7.21 |
| DE000A1W9A85 | Prisma Aktiv UI Inhaber-Anteile I | UNT | 334,000 | 0 | 0 EUR | 111.130 | 37,117,420.00 | 2.15 |
| DE000A2H7PB6 | ProfitlichSchmidlin Fonds UI Inh.-Ant. Ant.kl.SI | UNT | 42,650 | 2,650 | 0 EUR | 1,014.660 | 43,275,249.00 | 2.51 |
| DE000A0KEXM6 DE000A2JJZY3 | Siemens Balanced Inhaber-Anteile SPSW - WHC Global Discovery | UNT | 4,578,522 | 339,173 | 0 EUR | 19.040 | 87,175,058.88 | 5.05 |
|  | Inhaber-Anteile B | UNT | 66,300 | 0 | 0 EUR | 882.850 | 58,532,955.00 | 3.39 |
| DE000A1JRQC3 | TBF SPECIAL INCOME Inhaber-Anteile I | UNT | 505,845 | 0 | 0 EUR | 127.210 | 64,348,542.45 | 3.73 |
| Ireland |  |  |  |  |  |  | 67,323,064.91 | 3.90 |
| IE00B43LCT08 | GMO Fds-Gl.Real Return UCITS Reg.Shares A | UNT | 865,089.481 | 0 | 2,480,220 EUR | 20.090 | 17,379,647.67 | 1.01 |
| IE00BRJT7H22 | Man Fds.VI-Man AHL TargetRisk Reg.Acc.Shs I | UNT | 340,000 | 340,000 | 0 USD | 164.850 | 49,943,417.24 | 2.89 |
| Luxembourg |  |  |  |  |  |  | 891,091,576.90 | 51.58 |
| LU1091585262 | ansa-global Q opportunities |  |  |  |  |  |  |  |
|  | Namens-Ant. I (aus.) | UNT | 29,000 | 0 | 4,000 EUR | 600.820 | 17,423,780.00 | 1.01 |
| LU0575255335 | Assenagon Alpha Volatility Inhaber-Anteile I | UNT | 24,296 | 3,142 | 30,453 EUR | 1,200.990 | 29,179,253.04 | 1.69 |
| LU0379366346 | BL - Gbl Flexible EUR Inhaber-Anteile BI | UNT | 595,201 | 259,922 | 0 EUR | 201.380 | 119,861,577.38 | 6.94 |
| LU0553171439 | DJE - Zins & Dividende Inhaber-Anteile XP | UNT | 557,332 | 18,167 | 0 EUR | 167.470 | 93,336,390.04 | 5.40 |
| LU0952573300 LU1487934256 | Flossbach v.Storch-Mult.Opp.II Inhaber-Anteile l LOYS FCP - LOYS GLOBAL L/S | UNT | 1,140,225 | 334,342 | 32,044 EUR | 153.130 | 174,602,654.25 | 10.10 |
|  | Inhaber-Anteile ITN | UNT | 39,000 | 39,000 | 18,340 EUR | 454.830 | 17,738,370.00 | 1.03 |
| LU0808562705 LU0445386369 | MFS Mer.-Prudent Wealth Fund Reg.Shares IH1 Nordea 1 - Alpha 10 MA Fund | UNT | 653,673 | 653,673 | 0 EUR | 158.900 | 103,868,639.70 | 6.01 |
|  | Actions Nominatives BP | UNT | 850,000 | 850,000 | 0 EUR | 12.660 | 10,761,000.00 | 0.62 |
| LU0227384020 | Nordea 1-Stable Return Fund Actions Nom. BP | UNT | 1,797,613.68 | 0 | 2,519,270 EUR | 16.480 | 29,624,673.45 | 1.72 |
| LU0996527213 LU0326949186 | Phaidros Fds - Balanced Inhaber-Anteile F Schroder ISF Asian Total Ret. | UNT | 904,724 | 170,099 | 44,869 EUR | 162.350 | 146,881,941.40 | 8.50 |
| LU1826618727 | Namens-Ant. C Acc. Twelve Cap.Fd-Twl.Ins.Best Id. | UNT | 32,500.04 | 58,418 | 229,383 USD | 300.344 | 8,697,870.80 | 0.50 |
| LU2095280298 | Act. Nom. SIM Acc. UBS(Lux)Key Sel.-Chi.Al.Opp. | UNT | 1,692 | 0 | 544 EUR | 10,398.370 | 17,594,042.04 | 1.02 |
|  | DL Act. Nom. IA3 Acc. | UNT | 384,794 | 384,794 | 0 USD | 102.640 | 35,192,921.51 | 2.04 |
| LU0718558488 | UniRak Nachhaltig Inhaber-Anteile A | UNT | 1,024,427 | 1,024,427 | 0 EUR | 84.270 | 86,328,463.29 | 5.00 |
| Austria |  |  |  |  |  |  | 32,548,273.82 | 1.88 |
| AT0000A12G92 | C-QUADRAT GreenStars ESG |  |  |  |  |  |  |  |
|  | Inhaber-Anteile S VTA | UNT | 990,000 | 990,000 | 0 EUR | 15.540 | 15,384,600.00 | 0.89 |
| AT0000A192B5 | Ethik Mix Inhaber-Anteile IT T | UNT | 146,273 | 146,273 | 0 EUR | 117.340 | 17,163,673.82 | 0.99 |
| Total securities |  |  |  |  | EUR |  | 1,716,522,274.60 | 99.39 |
| Derivatives |  |  |  |  |  |  |  |  |
|  | (The positions marked with a minus sign have been sold) |  |  |  |  |  |  |  |
| Foreign exchange derivatives Receivables/payables |
| Foreign exchange futures (sale) |  |  |  | 75,517.25 | 0.00 |
| Open positions |  |  |  |  |  |
| USD/EUR 94.000.000,00 | OTC |  |  | 75,517.25 | 0.00 |
| Total foreign exchange derivatives |  | EUR |  | 75,517.25 | 0.00 |
| Bank deposits, money market instruments, money market funds | and money market-related funds |  |  |  |  |
| Bank deposits |  |  |  |  |  |
| EUR deposits with custodial office |  |  |  |  |  |
| State Street Bank International GmbH | EUR	 11,588,636.45 | % | 100.000 | 11,588,636.45 | 0.67 |
| Deposits in non EU/EEA currencies |
| State Street Bank International GmbH | JPY | 11,672,426.00 | % | 100.000 | 96,550.59 | 0.01 |
| State Street Bank International GmbH | USD | 493,661.77 | % | 100.000 | 439,885.74 | 0.03 |


#### Investment portfolio at 30/06/2020
ISIN	Securities	Market	Shares/	Balance   Purchases Redemptions	Price	Market value	% of net
Units/	30/06/2020	EUR	assets
Currency	in the period under review
Total bank deposits	EUR	12,125,072.78	0.71
| Total bank deposits, | money market instruments, money market funds | and money mark | et-related funds  30) | EUR | 12,125,072.78 | 0.71 |
| --- | --- | --- | --- | --- | --- | --- |
| Other assets |  |  |  |  |  |  |
|  | Receivables from unit transactions | EUR | 221,951.01 |  | 221,951.01 | 0.01 |
|  | Receivables from securities transactions | EUR | 4,944,000.00 |  | 4,944,000.00 | 0.29 |
|  | Trailer fee | EUR | 494,189.43 |  | 494,189.43 | 0.03 |
| Total other assets |  |  |  | EUR | 5,660,140.44 | 0.33 |
| Other payables |  |  |  |  |  |  |
|  | Liabilities from unit transactions | EUR | -289,671.94 |  | -289,671.94 | -0.02 |
|  | Liabilities from securities transactions | EUR | -5,064,000.00 |  | -5,064,000.00 | -0.29 |
|  | Accruals | EUR | -2,036,965.64 |  | -2,036,965.64 | -0.12 |
| Total other payables |  |  |  | EUR | -7,390,637.58 | -0.43 |
| Fund assets |  |  |  | EUR | 1,726,992,367.49 | 100.00 |
|  | Total units in circulation of all unit classes |  |  | STK | 12,597,280 |  |

30) 
Cash initial margins may be included in bank deposits.
VermögensManagement Stars of Multi Asset A (EUR)
| ISIN | DE0009797548 |
| --- | --- |
| Fund assets | 1,326,979,383.36 |
| Units in circulation | 12,155,504.175 |
| Unit value | 109.17 |

VermögensManagement Stars of Multi Asset MeinPlan A (EUR)
| ISIN | DE000SPAR017 |
| --- | --- |
| Fund assets | 4,793,222.62 |
| Units in circulation | 47,497.702 |
| Unit value | 100.91 |
| VermögensManagement Stars of Multi Asset P (EUR) |
| ISIN | DE000A2AMPR1 |
| Fund assets | 395,219,761.51 |
| Units in circulation | 394,277.708 |
| Unit value | 1,002.39 |


### Securities prices/market rates
Fund assets were valued on the basis of the following prices/market rates:
All assets: prices/market rates as at 30/06/2020 or last known

### Additional information on valuations
The valuation is conducted by the investment management company (IMC).
Equities, subscription rights, exchange-traded funds (ETFs), participation certificates, bonds and exchange-traded derivatives are valued at their market price, provided that a market price is available.
Bonds for which no market price is available are valued at validated broker prices or with the help of regularly reviewed models and on the basis of relevant market information.
Participation certificates for which no market prices are available are valued at the mean of the bid-ask-spread.
Derivatives and subscription rights which are not traded on the market are valued with the help of regularly reviewed models and on the basis of relevant market information.
Investment fund units are valued at the redemption price published by the relevant investment company.
Bank deposits and other assets are valued at their nominal value, term deposits at their current value and liabilities at the repayment value.
Unlisted equities and shareholdings are valued at the current value, which is carefully determined with the help of suitable valuation models, taking account of the current market situation.
The investments reported in this semi-annual report, amounting to 99.39% of fund assets, are valued at stock market trading prices or market prices and 0.00% at imputed current market values and/or verified brokers’ quotations. The remaining 0.61% of fund assets consists of other assets, other liabilities and cash.

#### Exchange rate(s) and/or conversion factor(s) (indirect quotation) as at 30/06/2020
| USA, Dollar | (USD) | 1 Euro = USD | 1.12225 |
| --- | --- | --- | --- |
| Japan, Yen | (JPY) | 1 Euro = JPY | 120.89440 |
| Market key |  |  |  |
| OTC |  |  |  |

OTC	=	Over-the-Counter

### Capital measures
All sales revenues resulting from capital measures (technical revenues) are reported as additions or disposals.

### Annex according to Regulation (EU) 2015/2365 with regards to Securities Financing Transactions and Total Return Swaps
This Fund was not invested in any securities financing transactions pursuant to Regulation (EU) 2015/2365 during the reporting period, therefore the following contains no information on this type of transaction.

#### Transactions carried out during the reporting period no longer listed in the investment portfolio:
– purchases and redemptions of securities, fund units and borrower’s note loans (market allocations as per reporting date):
ISIN	Securities	Shares/	Purchases	Redemptions Units/
Currency
Securities fund units
Non-group security investment units Germany
| DE000A0KFUX6 | First Private Wealth Inhaber-Anteile A | UNT | 0 | 976,996 |
| --- | --- | --- | --- | --- |
| DE000A12BPQ2 | Frankf.Aktienfond.f.Stiftungen Inhaber-Anteile AI | UNT | 0 | 166,264 |
| Luxembourg |  |  |  |  |
| LU0337787088 | MFS Mer.-Prudent Wealth Fund Bearer Shares Cl.I1 | UNT | 194,158 | 849,655.569 |
| LU0387278004 | SPARINVEST SICAV-PROCEDO Inhaber-Anteile I | UNT | 0 | 369,353 |

Money-market and near-money-market funds
Group-owned money market and near-money market funds
FR0013090669	Allianz Cash Facility Fund Actions Nom.I3/D	UNT	181.429	181.429
Derivatives
Securities	Shares/	Volume
Units/	in ’000
Currency
(Option premiums and/or contract volumes pertaining to opening transactions; in the case of warrants, purchases and redemptions are indicated.)
Forward exchange deals Foreign exchange futures (sale) Forward sale of currencies:
USD/EUR	EUR	102,799
Foreign exchange futures (purchase) Forward purchase of currencies:
USD/EUR	EUR	83,850
| Information on target funds |  |
| --- | --- |
| Front-end loads and/or redemption fees were not charged or not paid. |  |
| Management fee |  |
| ACATIS GANÉ VALUE EVENT FONDS Inhaber-Anteile D | 1.50% p.a. |
| AGIF-All.Gl.Dy.Mul.Ass.Stra.50 Inhaber-Anteile WT | 0.42% p.a. |
| AGIF-All.Multi Asst Long/Short Inhaber-Ant.W9 (H2) | 0.60% p.a. |
| Allianz Cash Facility Fund Actions Nom.I3/D | 0.05% p.a. |
| Assenagon Alpha Volatility Inhaber-Anteile I | 0.80% p.a. |
| BL - Gbl Flexible EUR Inhaber-Anteile BI | 0.25% p.a. |
| C-QUADRAT GreenStars ESG Inhaber-Anteile S VTA | n.v.% p.a. |
| DJE - Zins & Dividende Inhaber-Anteile XP | 0.30% p.a. |
| DWS Dynamic Opportunities Inhaber-Anteile SC | n.v.% p.a. |
| Ethik Mix Inhaber-Anteile IT T | 0.48% p.a. |
| First Private Wealth Inhaber-Anteile A | 0.50% p.a. |
| Flossbach v.Storch-Mult.Opp.II Inhaber-Anteile l | 0.78% p.a. |
| Frankf.Aktienfond.f.Stiftungen Inhaber-Anteile AI | 0.15% p.a. |
| GMO Fds-Gl.Real Return UCITS Reg.Shares A | 0.80% p.a. |
| Kapital Plus Inhaber-Anteile A | 0.90% p.a. |
| LOYS FCP - LOYS GLOBAL L/S Inhaber-Anteile ITN | 0.25% p.a. |
| MFS Mer.-Prudent Wealth Fund Bearer Shares Cl.I1 | 0.95% p.a. |
| MFS Mer.-Prudent Wealth Fund Reg.Shares IH1 | 0.95% p.a. |
| Man Fds.VI-Man AHL TargetRisk Reg.Acc.Shs I | 0.75% p.a. |
| Nordea 1 - Alpha 10 MA Fund Actions Nominatives BP | n.v.% p.a. |
| Nordea 1-Stable Return Fund Actions Nom. BP | 1.50% p.a. |
| Phaidros Fds - Balanced Inhaber-Anteile F | 0.64% p.a. |
| Prisma Aktiv UI Inhaber-Anteile I | 0.23% p.a. |
| ProfitlichSchmidlin Fonds UI Inh.-Ant. Ant.kl.SI | n.v.% p.a. |
| SPARINVEST SICAV-PROCEDO Inhaber-Anteile I | 0.50% p.a. |
| SPSW - WHC Global Discovery Inhaber-Anteile B | 1.10% p.a. |
| Schroder ISF Asian Total Ret. Namens-Ant. C Acc. | 1.00% p.a. |
| Siemens Balanced Inhaber-Anteile | 0.50% p.a. |
| TBF SPECIAL INCOME Inhaber-Anteile I | 0.56% p.a. |
| Twelve Cap.Fd-Twl.Ins.Best Id. Act. Nom. SIM Acc. | 0.85% p.a. |
| UBS(Lux)Key Sel.-Chi.Al.Opp.DL Act. Nom. IA3 Acc. | 0.64% p.a. |
| UniRak Nachhaltig Inhaber-Anteile A | 1.20% p.a. |
| ansa-global Q opportunities Namens-Ant. I (aus.) | n.v.% p.a. |

Translation (ENDE, 2020-06-30):
# Inhalt
VermögensManagement Stars of Multi Asset Entwicklung von Fondsvermögen und Anteilwert im
Struktur des Fondsvermögens in %
75 
60 53,0 56,4
45
30
15
0
Luxemburg	Irland	Deutschland	Österreich	Barreserve, Sonstiges

#### Entwicklung von Fondsvermögen und Anteilwert im 3-Jahresvergleich
|  | 30.06.2020 | 31.12.2019 | 31.12.2018 | 31.12.2017 |
| --- | --- | --- | --- | --- |
| Fondsvermögen in Mio. EUR |  |  |  |  |  |
| - Anteilklasse A (EUR) | WKN: 979 754/ISIN: DE0009797548 | 1.327,0 | 1.427,1 | 1.375,4 | 1.519,2 |
| - Anteilklasse MeinPlan A (EUR)  1) | WKN: SPA R01/ISIN: DE000SPAR017 | 4,8 | 2,8 | 0,2 | -- |
| - Anteilklasse P (EUR) | WKN: A2A MPR/ISIN: DE000A2AMPR1 | 395,2 | 416,0 | 339,8 | 307,3 |
| Anteilwert in EUR |  |  |  |  |  |
| - Anteilklasse A (EUR) | WKN: 979 754/ISIN: DE0009797548 | 109,17 | 113,53 | 103,86 | 114,82 |
| - Anteilklasse MeinPlan A (EUR)  1) | WKN: SPA R01/ISIN: DE000SPAR017 | 100,91 | 104,47 | 94,01 | -- |
| - Anteilklasse P (EUR) | WKN: A2A MPR/ISIN: DE000A2AMPR1 | 1.002,39 | 1.041,16 | 949,96 | 1.045,81 |
| 1)  Auflegungsdatum: 01.10.2018 |  |  |  |  |  |

| Vermögensübersicht zum 30.06.2020 |  |
| --- | --- |
| Gliederung nach Anlagenart - Land | Kurswert in EUR | % des Fonds- vermögens  *) |  | Gliederung nach Anlagenart - Währung | Kurswert in EUR | % des Fonds- vermögens  *) |
| I. Vermögensgegenstände |  |  |  | I. Vermögensgegenstände |  |  |
| 1. Investmentanteile | 1.716.522.274,60 | 99,39 |  | 1. Investmentanteile | 1.716.522.274,60 | 99,39 |
| Deutschland | 642.275.430,31 | 37,21 |  | EUR | 1.581.094.692,09 | 91,55 |
| Irland | 67.323.064,91 | 3,90 |  | USD | 135.427.582,51 | 7,84 |
| Luxemburg | 974.375.505,56 | 56,40 |  | 2. Derivate | 75.517,25 | 0,00 |
| Österreich | 32.548.273,82 | 1,88 |  | 3. Bankguthaben, Geldmarktpapiere, | 12.125.072,78 | 0,71 |
| 2. Derivate | 75.517,25 | 0,00 |  | Geldmarkt- und geldmarktnahe Fonds |  |  |
| 3. Bankguthaben, Geldmarktpapiere, | 12.125.072,78 | 0,71 |  | 4. Sonstige Vermögensgegenstände | 5.660.140,44 | 0,33 |
| Geldmarkt- und geldmarktnahe Fonds |  |  |  | II. Verbindlichkeiten | -7.390.637,58 | -0,43 |
| 4. Sonstige Vermögensgegenstände | 5.660.140,44 | 0,33 |  | III. Fondsvermögen | 1.726.992.367,49 | 100,00 |
| II. Verbindlichkeiten | -7.390.637,58 | -0,43 |  |  |  |  |
| III. Fondsvermögen | 1.726.992.367,49 | 100,00 |  |  |  |  |

*) 
Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Run- dungsdifferenzen entstanden sein.

#### Vermögensaufstellung zum 30.06.2020
| ISIN | Gattungsbezeichnung | Markt | Stück bzw. | Bestand | Käufe/	Verkäufe/ | Kurs | Kurswert | % des |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  | Anteile bzw. | 30.06.2020 | Zugänge	Abgänge |  | in EUR | Fondsver- |
|  | Währung |  | im Berichtszeitraum |  |  | mögens |
| Wertpapier-Investmentanteile |  |  |  |  | 1.716.522.274,60 | 99,39 |
| KVG - eigene Wertpapier-Investmentanteile |  |  |  |  | 104.752.277,10 | 6,07 |
| Deutschland |  |  |  |  | 104.752.277,10 | 6,07 |
| DE0008476250	Kapital Plus Inhaber-Anteile A | ANT | 1.594.403 | 54.436	0 EUR | 65,700 | 104.752.277,10 | 6,07 |
| Gruppeneigene Wertpapier-Investmentanteile |  |  |  |  | 83.283.928,66 | 4,82 |
| Luxemburg |  |  |  |  | 83.283.928,66 | 4,82 |
| LU1309437561	AGIF-All.Gl.Dy.Mul.Ass.Stra.50 |  |  |  |  |  |  |
| Inhaber-Anteile WT	ANT | 42.958 | 0 | 15.324 USD | 1.086,600 | 41.593.372,96 | 2,41 |
| LU1584111725	AGIF-All.Multi Asst Long/Short |
| Inhaber-Ant.W9 (H2)	ANT | 470 | 0 | 50 EUR 88.703,310 | 41.690.555,70 | 2,41 |
| Gruppenfremde  Wertpapier-Investmentanteile |  |  |  |  |  | 1.528.486.068,84 | 88,50 |
| Deutschland |  |  |  |  |  | 537.523.153,21 | 31,14 |
| DE000A2DR2M0	ACATIS GANÉ VALUE EVENT FONDS Inha- |  |  |  |  |  |  |  |
| ber-Anteile 53.574 D DE000A2DR2M0 | ANT | 98.033 | 53.574 | 92.204 EUR | 1.250,160 | 122.556.935,28 | 7,10 |
| DE000DWS2ND0   DWS Dynamic Opportunities Inhaber-Anteile SC | ANT | 2.612.610 | 137.792 | 0 EUR | 47,660 | 124.516.992,60 | 7,21 |
| DE000A1W9A85	Prisma Aktiv UI Inhaber-Anteile I | ANT | 334.000 | 0 | 0 EUR | 111,130 | 37.117.420,00 | 2,15 |
| DE000A2H7PB6	ProfitlichSchmidlin Fonds UI Inh.-Ant. Ant.kl.SI | ANT | 42.650 | 2.650 | 0 EUR | 1.014,660 | 43.275.249,00 | 2,51 |
| DE000A0KEXM6	Siemens Balanced Inhaber-Anteile DE000A2JJZY3	SPSW - WHC Global Disco- | ANT | 4.578.522 | 339.173 | 0 EUR | 19,040 | 87.175.058,88 | 5,05 |
| very Inhaber-Anteile B | ANT | 66.300 | 0 | 0 EUR | 882,850 | 58.532.955,00 | 3,39 |
| DE000A1JRQC3	TBF SPECIAL INCOME Inhaber-Anteile I | ANT | 505.845 | 0 | 0 EUR | 127,210 | 64.348.542,45 | 3,73 |
| Irland |  |  |  |  |  | 67.323.064,91 | 3,90 |
| IE00B43LCT08	GMO Fds-Gl.Real Return UCITS Reg.Shares A | ANT | 865.089,481 | 0 | 2.480.220 EUR | 20,090 | 17.379.647,67 | 1,01 |
| IE00BRJT7H22	Man Fds.VI-Man AHL TargetRisk Reg.Acc.Shs I | ANT | 340.000 | 340.000 | 0 USD | 164,850 | 49.943.417,24 | 2,89 |
| Luxemburg |  |  |  |  |  | 891.091.576,90 | 51,58 |
| LU1091585262	ansa-global Q opportuni- |  |  |  |  |  |  |  |
| ties Namens-Ant. I (aus.) | ANT | 29.000 | 0 | 4.000 EUR | 600,820 | 17.423.780,00 | 1,01 |
| LU0575255335	Assenagon Alpha Volatility Inhaber-Anteile I | ANT | 24.296 | 3.142 | 30.453 EUR | 1.200,990 | 29.179.253,04 | 1,69 |
| LU0379366346	BL - Gbl Flexible EUR Inhaber-Anteile BI | ANT | 595.201 | 259.922 | 0 EUR | 201,380 | 119.861.577,38 | 6,94 |
| LU0553171439	DJE - Zins & Dividende Inhaber-Anteile XP | ANT | 557.332 | 18.167 | 0 EUR | 167,470 | 93.336.390,04 | 5,40 |
| LU0952573300	Flossbach v.Storch-Mult.Opp.II Inhaber-Anteile l LU1487934256	LOYS FCP - LOYS GLOBAL L/S | ANT | 1.140.225 | 334.342 | 32.044 EUR | 153,130 | 174.602.654,25 | 10,10 |
| Inhaber-Anteile ITN | ANT | 39.000 | 39.000 | 18.340 EUR | 454,830 | 17.738.370,00 | 1,03 |
| LU0808562705	MFS Mer.-Prudent Wealth Fund Reg.Shares IH1 LU0445386369	Nordea 1 - Alpha 10 MA Fund Ac- | ANT | 653.673 | 653.673 | 0 EUR | 158,900 | 103.868.639,70 | 6,01 |
| tions Nominatives BP | ANT | 850.000 | 850.000 | 0 EUR | 12,660 | 10.761.000,00 | 0,62 |
| LU0227384020	Nordea 1-Stable Return Fund Actions Nom. BP | ANT | 1.797.613,68 | 0 | 2.519.270 EUR | 16,480 | 29.624.673,45 | 1,72 |
| LU0996527213	Phaidros Fds - Balanced Inhaber-Anteile F LU0326949186	Schroder ISF Asian Total Ret. | ANT | 904.724 | 170.099 | 44.869 EUR | 162,350 | 146.881.941,40 | 8,50 |
| Namens-Ant. C Acc. LU1826618727	Twelve Cap.Fd-Twl.Ins.Best Id. | ANT | 32.500,04 | 58.418 | 229.383 USD | 300,344 | 8.697.870,80 | 0,50 |
| Act. Nom. SIM Acc. LU2095280298	UBS(Lux)Key Sel.-Chi.Al.Opp. | ANT | 1.692 | 0 | 544 EUR | 10.398,370 | 17.594.042,04 | 1,02 |
| DL Act. Nom. IA3 Acc. | ANT | 384.794 | 384.794 | 0 USD | 102,640 | 35.192.921,51 | 2,04 |
| LU0718558488	UniRak Nachhaltig Inhaber-Anteile A | ANT | 1.024.427 | 1.024.427 | 0 EUR | 84,270 | 86.328.463,29 | 5,00 |
| Österreich |  |  |  |  |  | 32.548.273,82 | 1,88 |
| AT0000A12G92	C-QUADRAT GreenStars ESG |  |  |  |  |  |  |  |
| Inhaber-Anteile S VTA | ANT | 990.000 | 990.000 | 0 EUR | 15,540 | 15.384.600,00 | 0,89 |
| AT0000A192B5	Ethik Mix Inhaber-Anteile IT T | ANT | 146.273 | 146.273 | 0 EUR | 117,340 | 17.163.673,82 | 0,99 |
| Summe Wertpapiervermögen |  |  |  | EUR |  | 1.716.522.274,60 | 99,39 |
| Derivate |  |  |  |  |  |  |  |

| Devisenterminkontrakte (Verkauf) Offene Positionen USD/EUR 94.000.000,00 | OTC | 75.517,25 75.517,25 | 0,00 0,00 |
| --- | --- | --- | --- |
| Summe Devisen-Derivate |  |  | EUR |  | 75.517,25 | 0,00 |
| Bankguthaben, Geldmarktpapiere, Geldmarkt- und geldmarktnahe Fonds |  |  |  |  |  |  |
| Bankguthaben |  |  |  |  |  |  |
| EUR-Guthaben bei der Verwahrstelle |  |  |  |  |  |  |
| State Street Bank International GmbH | EUR | 11.588.636,45 | % | 100,000 | 11.588.636,45 | 0,67 |
| Guthaben in Nicht-EU/EWR-Währungen |  |  |  |  |  |  |  |
| State Street Bank International GmbH | JPY | 11.672.426,00 | % | 100,000 | 96.550,59 | 0,01 |
| State Street Bank International GmbH | USD | 493.661,77 | % | 100,000 | 439.885,74 | 0,03 |

Devisen-Derivate
(Bei den mit Minus gekennzeichneten Beständen handelt es sich um verkaufte Positionen) Forderungen/ Verbindlichkeiten

#### Vermögensaufstellung zum 30.06.2020
| ISIN | Gattungsbezeichnung | Markt	Stück bzw. | Bestand | Käufe/	Verkäufe/ | Kurs | Kurswert | % des |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  |  | Anteile bzw. | 30.06.2020 | Zugänge	Abgänge |  | in EUR | Fondsver- |
| Währung	im Berichtszeitraum	mögens Summe Bankguthaben	EUR	12.125.072,78	0,71 |
| Summe der Bankguthaben, Geldmarktpapiere, Geldmarkt- und geldmarktnahe Fonds  30) |  | EUR | 12.125.072,78 | 0,71 |
| Sonstige Vermögensgegenstände |  |  |  |  |
| Forderungen aus Anteilscheingeschäften	EUR | 221.951,01 |  | 221.951,01 | 0,01 |
| Forderungen aus Wertpapiergeschäften	EUR | 4.944.000,00 |  | 4.944.000,00 | 0,29 |
| Bestandsvergütung	EUR | 494.189,43 |  | 494.189,43 | 0,03 |
| Summe Sonstige Vermögensgegenstände |  | EUR | 5.660.140,44 | 0,33 |
| Sonstige Verbindlichkeiten |  |  |  |  |
| Verbindlichkeiten aus Anteilscheingeschäften	EUR | -289.671,94 |  | -289.671,94 | -0,02 |
| Verbindlichkeiten aus Wertpapiergeschäften	EUR | -5.064.000,00 |  | -5.064.000,00 | -0,29 |
| Kostenabgrenzung	EUR | -2.036.965,64 |  | -2.036.965,64 | -0,12 |
| Summe Sonstige Verbindlichkeiten |  | EUR | -7.390.637,58 | -0,43 |
| Fondsvermögen |  | EUR | 1.726.992.367,49 | 100,00 |
| Summe der umlaufenden Anteile aller Anteilklassen |  | STK | 12.597.280 |  |

30) 
Im Bankguthaben können Cash Initial Margin enthalten sein.
VermögensManagement Stars of Multi Asset A (EUR)
| ISIN | DE0009797548 |
| --- | --- |
| Fondsvermögen | 1.326.979.383,36 |
| Umlaufende Anteile | 12.155.504,175 |
| Anteilwert | 109,17 |

VermögensManagement Stars of Multi Asset MeinPlan A (EUR)
| ISIN | DE000SPAR017 |
| --- | --- |
| Fondsvermögen | 4.793.222,62 |
| Umlaufende Anteile | 47.497,702 |
| Anteilwert | 100,91 |

VermögensManagement Stars of Multi Asset P (EUR)
| ISIN | DE000A2AMPR1 |
| --- | --- |
| Fondsvermögen | 395.219.761,51 |
| Umlaufende Anteile | 394.277,708 |
| Anteilwert | 1.002,39 |


### Wertpapierkurse bzw. Marktsätze
Die Vermögensgegenstände des Sondervermögens sind auf der Grundlage nachstehender Kurse/Marktsätze bewertet:
Alle Vermögenswerte: Kurse bzw. Marktsätze per 30.06.2020 oder letztbekannte

### Ergänzende Anmerkung zur Bewertung
Die Bewertung erfolgt durch die Kapitalverwaltungsgesellschaft (KVG).
Aktien, Bezugsrechte, Börsennotierte Fonds (ETFs), Genussscheine, Rentenpapiere und börsengehandelte Derivate werden, sofern vorhanden, grundsätz- lich mit handelbaren Börsenkursen bewertet.
Rentenpapiere, für die keine handelbaren Börsenkurse vorliegen, werden mit validierten Kursstellungen von Brokern oder unter Einbeziehung der relevan- ten Marktinformationen im Rahmen von regelmäßig überprüften Modellen bewertet.
Genussscheine, für die keine handelbaren Börsenkurse vorliegen, werden mit dem Mittelwert von Bid- und Ask-Kurs bewertet.
Nicht börsengehandelte Derivate und Bezugsrechte werden unter Einbeziehung der relevanten Marktinformationen im Rahmen von regelmäßig über- prüften Modellen bewertet.
Investmentfondsanteile werden mit dem von der Investmentgesellschaft veröffentlichten Rücknahmepreis bewertet.
Bankguthaben und Sonstige Vermögensgegenstände werden zum Nennwert, Festgelder zum Verkehrswert und Verbindlichkeiten zum Rückzahlungsbe- trag bewertet.
Nicht notierte Aktien und Beteiligungen werden zu dem aktuellen Verkehrswert bewertet, der bei sorgfältiger Einschätzung nach geeigneten Bewertungs- modellen unter Berücksichtigung der aktuellen Marktgegebenheiten angemessen ist.
Die in diesem Halbjahresbericht ausgewiesenen Anlagen werden i.H.v. 99,39% des Fondsvermögens mit handelbaren Börsenkursen oder Marktpreisen und 0,00% zu abgeleiteten Verkehrswerten bzw. validierten Kursstellungen von Brokern bewertet. Die verbleibenden 0,61% des Fondsvermögens bestehen aus Sonstigen Vermögensgegenständen, Sonstigen Verbindlichkeiten sowie Barvermögen.

#### Devisenkurs(e) bzw. Konversionsfaktor(en) (in Mengennotiz) per 30.06.2020
| USA, Dollar | (USD) | 1 Euro = USD | 1,12225 |
| --- | --- | --- | --- |
| Japan, Yen | (JPY) | 1 Euro = JPY | 120,89440 |
| Marktschlüssel |  |  |  |
| OTC |  |  |  |

OTC	=	Over-the-Counter

### Kapitalmaßnahmen
Alle Umsätze, die aus Kapitalmaßnahmen hervorgehen (technische Umsätze), werden als Zu- oder Abgang ausgewiesen.

### Zusätzliche Anhangangaben gemäß der Verordnung (EU) 2015/2365 betreffend Wertpapierfinanzierungsgeschäfte
Der betrachtete Fonds war während des Berichtszeitraums in keinerlei Wertpapierfinanzierungsgeschäfte nach Verordnung (EU) 2015/2365 investiert, weshalb im Folgenden kein Ausweis zu dieser Art von Geschäften gemacht wird.

#### Während des Berichtszeitraumes abgeschlossene Geschäfte, soweit sie nicht mehr in der Vermögensaufstellung erscheinen:
- Käufe und Verkäufe in Wertpapieren, Investmentanteilen und Schuldscheindarlehen (Marktzuordnung zum Berichtsstichtag):
| ISIN | Gattungsbezeichnung | Stück bzw. | Käufe/ | Verkäufe/ |
| --- | --- | --- | --- | --- |
|  |  | Anteile bzw. Währung | Zugänge | Abgänge |

Wertpapier-Investmentanteile
Gruppenfremde Wertpapier-Investmentanteile Deutschland
| DE000A0KFUX6 | First Private Wealth Inhaber-Anteile A | ANT | 0 | 976.996 |
| --- | --- | --- | --- | --- |
| DE000A12BPQ2 | Frankf.Aktienfond.f.Stiftungen Inhaber-Anteile AI | ANT | 0 | 166.264 |
| Luxemburg |  |  |  |  |
| LU0337787088 | MFS Mer.-Prudent Wealth Fund Bearer Shares Cl.I1 | ANT | 194.158 | 849.655,569 |
| LU0387278004 | SPARINVEST SICAV-PROCEDO Inhaber-Anteile I | ANT | 0 | 369.353 |

Geldmarkt- und geldmarktnahe Fonds
Gruppeneigene Geldmarkt- und geldmarktnahe Fonds
FR0013090669	Allianz Cash Facility Fund Actions Nom.I3/D	ANT	181,429	181,429
Derivate
Gattungsbezeichnung	Stück bzw.	Volumen
Anteile bzw.	in 1.000
Währung
(In Opening-Transaktionen umgesetzte Optionsprämien bzw. Volumen der Optionsgeschäfte, bei Optionsscheinen Angabe der Käufe und Verkäufe.)
Devisentermingeschäfte Devisenterminkontrakte (Verkauf) Verkauf von Devisen auf Termin:
| USD/EUR | EUR | 102.799 |
| --- | --- | --- |
| Devisenterminkontrakte (Kauf) |  |  |
| Kauf von Devisen auf Termin: |  |  |
| USD/EUR | EUR | 83.850 |
| Angaben zu Zielfonds |  |  |
| Ausgabeaufschläge und oder Rücknahmeabschläge wurden nicht erhoben und oder nicht gezahlt. |  |  |
| Verwaltungsvergütung |  |  |
| ACATIS GANÉ VALUE EVENT FONDS Inhaber-Anteile D | 1,50% p.a. |  |
| AGIF-All.Gl.Dy.Mul.Ass.Stra.50 Inhaber-Anteile WT | 0,42% p.a. |  |
| AGIF-All.Multi Asst Long/Short Inhaber-Ant.W9 (H2) | 0,60% p.a. |  |
| Allianz Cash Facility Fund Actions Nom.I3/D | 0,05% p.a. |  |
| Assenagon Alpha Volatility Inhaber-Anteile I | 0,80% p.a. |  |
| BL - Gbl Flexible EUR Inhaber-Anteile BI | 0,25% p.a. |  |
| C-QUADRAT GreenStars ESG Inhaber-Anteile S VTA | n.v.% p.a. |  |
| DJE - Zins & Dividende Inhaber-Anteile XP | 0,30% p.a. |  |
| DWS Dynamic Opportunities Inhaber-Anteile SC | n.v.% p.a. |  |
| Ethik Mix Inhaber-Anteile IT T | 0,48% p.a. |  |
| First Private Wealth Inhaber-Anteile A | 0,50% p.a. |  |
| Flossbach v.Storch-Mult.Opp.II Inhaber-Anteile l | 0,78% p.a. |  |
| Frankf.Aktienfond.f.Stiftungen Inhaber-Anteile AI | 0,15% p.a. |  |
| GMO Fds-Gl.Real Return UCITS Reg.Shares A | 0,80% p.a. |  |
| Kapital Plus Inhaber-Anteile A | 0,90% p.a. |  |
| LOYS FCP - LOYS GLOBAL L/S Inhaber-Anteile ITN | 0,25% p.a. |  |
| MFS Mer.-Prudent Wealth Fund Bearer Shares Cl.I1 | 0,95% p.a. |  |
| MFS Mer.-Prudent Wealth Fund Reg.Shares IH1 | 0,95% p.a. |  |
| Man Fds.VI-Man AHL TargetRisk Reg.Acc.Shs I | 0,75% p.a. |  |
| Nordea 1 - Alpha 10 MA Fund Actions Nominatives BP | n.v.% p.a. |  |
| Nordea 1-Stable Return Fund Actions Nom. BP | 1,50% p.a. |  |
| Phaidros Fds - Balanced Inhaber-Anteile F | 0,64% p.a. |  |
| Prisma Aktiv UI Inhaber-Anteile I | 0,23% p.a. |  |
| ProfitlichSchmidlin Fonds UI Inh.-Ant. Ant.kl.SI | n.v.% p.a. |  |
| SPARINVEST SICAV-PROCEDO Inhaber-Anteile I | 0,50% p.a. |  |
| SPSW - WHC Global Discovery Inhaber-Anteile B | 1,10% p.a. |  |
| Schroder ISF Asian Total Ret. Namens-Ant. C Acc. | 1,00% p.a. |  |
| Siemens Balanced Inhaber-Anteile | 0,50% p.a. |  |
| TBF SPECIAL INCOME Inhaber-Anteile I | 0,56% p.a. |  |
| Twelve Cap.Fd-Twl.Ins.Best Id. Act. Nom. SIM Acc. | 0,85% p.a. |  |
| UBS(Lux)Key Sel.-Chi.Al.Opp.DL Act. Nom. IA3 Acc. | 0,64% p.a. |  |
| UniRak Nachhaltig Inhaber-Anteile A | 1,20% p.a. |  |
| ansa-global Q opportunities Namens-Ant. I (aus.) | n.v.% p.a. |  |