# 47
31 December 2018
Pro rata sub-fund’s net assets	EUR 116,163,486.63 Units outstanding		1,012,835.986
Net asset value	EUR 114.69
Unit class I (EUR)
Pro rata sub-fund’s net assets	EUR 150,156,076.65 Units outstanding		1,060,874.589
Net asset value	EUR 141.54
Unit class XP (EUR)
Pro rata sub-fund’s net assets	EUR 76,468,286.53 Units outstanding		786,226.931
Net asset value	EUR 97.26
- | See Notes to the Financial Statements.
- | This item essentially comprises the management fee and taxe d’abonnement.


## STATEMENT OF INVESTMENTS AS AT 31 DECEMBER 2018
ISIN	Securities	Purchases during the reporting
period
Sales during the reporting
period
Holding	Price	Market value EUR
% of net sub-fund assets 
1

## BONDS
Listed securities

## AUD
| AU3TB0000036 | 4.500 % | Australia v.09(2020) | 0 | 0 | 10,200,000 | 103.2150 | 6,487,509.24 | 1.89 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| AU3TB0000143 | 2.750 % | Australia v.12(2024) | 0 | 0 | 320,000 | 103.4810 | 204,054.23 | 0.06 |
| AU3CB0155620 | 6.000 % | European Investment Bank v.11 (2016) | 0 | 0 | 5,000,000 | 105.8870 | 3,262,478.43 | 0.95 |
|  |  |  |  |  |  |  | 20,151,941.83 | 5.87 |
| EUR |  |  |  |  |  |  |  |  |
| DE000A1TNC94 | 4.250 % | Aareal Bank AG v.14(2026) | 0 | 0 | 2,131,000 | 103.4020 | 2,203,496.62 | 0.64 |
| XS1211292484 | 1.500 % | Anglo American Capital Plc. EMTN Reg.S. v.15(2020) | 0 | 0 | 600,000 | 100.9910 | 605,946.00 | 0.18 |
| XS0764637194 | 3.500 % | Anglo American Capital Plc. EMTN v.12(2022) | 0 | 0 | 2,000,000 | 106.2350 | 2,124,700.00 | 0.62 |
| XS1403685636 | 1.500 % | Aroundtown Property Holdings Plc. v.16(2022) | 0 | 0 | 4,000,000 | 100.6780 | 4,027,120.00 | 1.17 |
| XS1721410725 | 4.750 % | Austria Technologie & Sys- temtechnik AG FRN Perp. | 0 | 0 | 2,550,000 | 85.0000 | 2,167,500.00 | 0.63 |
| XS1330948818 | 1.375 % | Banco Santander S.A. EMTN v.15(2022) | 0 | 0 | 1,500,000 | 102.7640 | 1,541,460.00 | 0.45 |
| XS1385051112 | 1.875 % | Barclays Plc. EMTN Reg.S. v.16(2021) | 0 | 0 | 3,970,000 | 101.4630 | 4,028,081.10 | 1.18 |
| XS1695284114 | 4.250 % | BayWa AG Fix-to-Float Perp. | 1,000,000 | 0 | 3,000,000 | 99.9330 | 2,997,990.00 | 0.87 |
| BE0000337460 | 1.000 % | Belgium S.77 v.16(2026) | 5,000,000 | 0 | 5,000,000 | 103.8000 | 5,190,000.00 | 1.51 |
| XS1028954953 | 3.375 % | Bharti Airtel International Reg.S. v.14(2021) | 0 | 0 | 2,300,000 | 100.6560 | 2,315,088.00 | 0.68 |
| DE000A1R0TU2 | 2.375 % | Bilfinger SE IS v.12(2019) | 3,800,000 | 0 | 3,800,000 | 101.0000 | 3,838,000.00 | 1.12 |
| DE000A13SWH9 | 1.125 % | Deutsche Pfandbriefbank AG v.16(2020) | 0 | 0 | 960,000 | 100.5860 | 965,625.60 | 0.28 |
| DE000A2GSCV5 | 3.250 % | DIC Asset AG v.17(2022) | 0 | 0 | 4,850,000 | 100.4000 | 4,869,400.00 | 1.42 |
| DE000A13SWD8 | 1.250 % | Dte. Pfandbriefbank AG EMTN v.16(2019) | 0 | 0 | 2,180,000 | 100.1100 | 2,182,398.00 | 0.64 |
| XS1767930826 | 0.104 % | Ford Motor Credit Co. LLC EMTN FRN v.18(2022) | 0 | 0 | 7,000,000 | 91.8100 | 6,426,700.00 | 1.87 |
| XS1554373164 | 0.875 % | Fresenius Finance Ireland Plc. Reg.S. v.17(2022) | 0 | 0 | 300,000 | 99.8940 | 299,682.00 | 0.09 |
| XS1110430193 | 1.625 % | Glencore Finance (Europe) Ltd. Reg.S. EMTN v.14(2022) | 0 | 0 | 1,900,000 | 100.5370 | 1,910,203.00 | 0.56 |
| XS1143355094 | 1.500 % | Grenke Finance Plc. EMTN v.14(2019) | 0 | 0 | 700,000 | 100.2730 | 701,911.00 | 0.20 |
| XS1527138272 | 1.125 % | Grenke Finance Plc. EMTN v.16(2022) | 0 | 0 | 3,134,000 | 100.1400 | 3,138,387.60 | 0.92 |
| XS1578315183 | 0.700 % | Grenke Finance Plc. EMTN v.17(2020) | 0 | 0 | 700,000 | 99.2250 | 694,575.00 | 0.20 |

AU0000XCLWM5 5.750 % Australia v.07(2021)	0	0 15,200,000	108.8760	10,197,899.93	2.97

Translation (ENDE, 2018-12-31):
# 47
31. Dezember 2018
Anteiliges Netto-Teilfondsvermögen	116.163.486,63 EUR Umlaufende Anteile		1.012.835,986
Anteilwert	114,69 EUR
Anteilklasse I (EUR)
Anteiliges Netto-Teilfondsvermögen	150.156.076,65 EUR Umlaufende Anteile		1.060.874,589
Anteilwert	141,54 EUR
Anteilklasse XP (EUR)
Anteiliges Netto-Teilfondsvermögen	76.468.286,53 EUR Umlaufende Anteile		786.226,931
Anteilwert	97,26 EUR
- | Siehe Erläuterungen zum Bericht.
- | Diese Position setzt sich im Wesentlichen zusammen aus Verwaltungsvergütung und Taxe d’Abonnement.


## VERMÖGENSAUFSTELLUNG ZUM 31. DEZEMBER 2018
| ISIN | Wertpapiere | Zugänge im | Abgänge im | Bestand | Kurs | Kurswert | %-Anteil |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  |  | Berichtszeitraum | Berichtszeitraum |  |  | EUR | vom NTFV  1 |

ANLEIHEN
| AUD |  |
| --- | --- |
| AU0000XCLWM5 | 5,750 % | Australien v.07(2021) | 0 | 0 | 15.200.000 | 108,8760 | 10.197.899,93 | 2,97 |
| AU3TB0000036 | 4,500 % | Australien v.09(2020) | 0 | 0 | 10.200.000 | 103,2150 | 6.487.509,24 | 1,89 |
| AU3TB0000143 | 2,750 % | Australien v.12(2024) | 0 | 0 | 320.000 | 103,4810 | 204.054,23 | 0,06 |
| AU3CB0155620 | 6,000 % | Europäische Investitions- bank v.11(2016) | 0 | 0 | 5.000.000 | 105,8870 | 3.262.478,43 | 0,95 |
|  |  |  |  |  |  |  | 20.151.941,83 | 5,87 |
| EUR |  |  |  |  |  |  |  |  |
| DE000A1TNC94 | 4,250 % | Aareal Bank AG v.14(2026) | 0 | 0 | 2.131.000 | 103,4020 | 2.203.496,62 | 0,64 |
| XS1211292484 | 1,500 % | Anglo American Capital Plc. EMTN Reg.S. v.15(2020) | 0 | 0 | 600.000 | 100,9910 | 605.946,00 | 0,18 |
| XS0764637194 | 3,500 % | Anglo American Capital Plc. EMTN v.12(2022) | 0 | 0 | 2.000.000 | 106,2350 | 2.124.700,00 | 0,62 |
| XS1403685636 | 1,500 % | Aroundtown Property Holdings Plc. v.16(2022) | 0 | 0 | 4.000.000 | 100,6780 | 4.027.120,00 | 1,17 |
| XS1721410725 | 4,750 % | Austria Technologie & Sys- temtechnik AG FRN Perp. | 0 | 0 | 2.550.000 | 85,0000 | 2.167.500,00 | 0,63 |
| XS1330948818 | 1,375 % | Banco Santander S.A. EMTN v.15(2022) | 0 | 0 | 1.500.000 | 102,7640 | 1.541.460,00 | 0,45 |
| XS1385051112 | 1,875 % | Barclays Plc. EMTN Reg.S. v.16(2021) | 0 | 0 | 3.970.000 | 101,4630 | 4.028.081,10 | 1,18 |
| XS1695284114 | 4,250 % | BayWa AG Fix-to-Float Perp. | 1.000.000 | 0 | 3.000.000 | 99,9330 | 2.997.990,00 | 0,87 |
| BE0000337460 | 1,000 % | Belgien S.77 v.16(2026) | 5.000.000 | 0 | 5.000.000 | 103,8000 | 5.190.000,00 | 1,51 |
| XS1028954953 | 3,375 % | Bharti Airtel International Reg.S. v.14(2021) | 0 | 0 | 2.300.000 | 100,6560 | 2.315.088,00 | 0,68 |
| DE000A1R0TU2 | 2,375 % | Bilfinger SE IS v.12(2019) | 3.800.000 | 0 | 3.800.000 | 101,0000 | 3.838.000,00 | 1,12 |
| DE000A13SWH9 | 1,125 % | Deutsche Pfandbriefbank AG v.16(2020) | 0 | 0 | 960.000 | 100,5860 | 965.625,60 | 0,28 |
| DE000A2GSCV5 | 3,250 % | DIC Asset AG v.17(2022) | 0 | 0 | 4.850.000 | 100,4000 | 4.869.400,00 | 1,42 |
| DE000A13SWD8 | 1,250 % | Dte. Pfandbriefbank AG EMTN v.16(2019) | 0 | 0 | 2.180.000 | 100,1100 | 2.182.398,00 | 0,64 |
| XS1767930826 | 0,104 % | Ford Motor Credit Co. LLC EMTN FRN v.18(2022) | 0 | 0 | 7.000.000 | 91,8100 | 6.426.700,00 | 1,87 |
| XS1554373164 | 0,875 % | Fresenius Finance Ireland Plc. Reg.S. v.17(2022) | 0 | 0 | 300.000 | 99,8940 | 299.682,00 | 0,09 |
| XS1110430193 | 1,625 % | Glencore Finance (Europe) Ltd. Reg.S. EMTN v.14(2022) | 0 | 0 | 1.900.000 | 100,5370 | 1.910.203,00 | 0,56 |
| XS1143355094 | 1,500 % | Grenke Finance Plc. EMTN v.14(2019) | 0 | 0 | 700.000 | 100,2730 | 701.911,00 | 0,20 |
| XS1527138272 | 1,125 % | Grenke Finance Plc. EMTN v.16(2022) | 0 | 0 | 3.134.000 | 100,1400 | 3.138.387,60 | 0,92 |
| XS1578315183 | 0,700 % | Grenke Finance Plc. EMTN v.17(2020) | 0 | 0 | 700.000 | 99,2250 | 694.575,00 | 0,20 |

Börsengehandelte Wertpapiere