# DWS Invest SDG Global Equities
DWS INVEST SDG GLOBAL EQUITIES

### Performance of share classes (in euro)
| Share class | ISIN | 6 months |
| --- | --- | --- |
| Class LC | LU1891311356 | -2.6% |
| Class FC | LU1891310895 | -2.3% |
| Class FD | LU1891310978 | -2.3% |
| Class IC | LU1891311190 | -2.1% |
| Class ID | LU1891311273 | -2.1% |
| Class LD | LU1891311430 | -2.6% |
| Class NC | LU1914384349 | -2.9% |
| Class TFC | LU1932912360 | -2.3% |
| Class TFD | LU1932912527 | -2.3% |
| Class XC | LU1891311513 | -2.1% |
| Class XD | LU1891311604 | -2.1% |

“BVI method” performance, i.e., excluding the initial sales charge.
Past performance is no guide to future results.	As of: June 30, 2020
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, 2020 |  |
| --- | --- |
|  | Amount in EUR | % of net assets |
| I. Assets |  |  |
| 1. Equities (sectors): Information Technology | 80 781 020.17 | 16.21 |
| Telecommunication Services | 2 934 328.41 | 0.59 |
| Consumer Discretionaries | 159 367 976.37 | 31.99 |
| Energy | 61 160 334.13 | 12.27 |
| Consumer Staples | 3 403 385.11 | 0.68 |
| Financials | 17 893 845.81 | 3.59 |
| Basic Materials | 10 979 200.42 | 2.20 |
| Industrials | 88 174 602.07 | 17.69 |
| Utilities | 32 691 085.94 | 6.57 |
| Total equities | 457 385 778.43 | 91.79 |
| 2. Investment fund units Other funds | 19 805 015.78 | 3.97 |
| Total investment fund units | 19 805 015.78 | 3.97 |
| 3. Cash at bank | 22 132 303.12 | 4.44 |
| 4. Other assets | 1 120 911.45 | 0.22 |
| 5. Receivables from share certificate transactions | 2 606 323.32 | 0.52 |
| II. Liabilities |  |  |
| 1. Other liabilities | -4 483 697.81 | - 0.89 |
| 2. Liabilities from share certificate transactions | -263 607.56 | - 0.05 |
| III. Net assets | 498 303 026.73 | 100.00 |
| Negligible rounding errors may have arisen due to the rounding of calculated percentages. |  |  |

| Investment portfolio – June 30, 2020 |  |
| --- | --- |
|  | 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 |  |  |  |  |  |  | 457 385 778.43 | 91.79 |
| Equities Lend Lease Group ..................................  | Count | 600 261 | 368 304 | 41 609 | AUD | 12.37 | 4 549 548.46 | 0.91 |
| Geberit AG........................................  | Count | 15 339 | 6 271 | 250 | CHF | 472.8 | 6 811 134.82 | 1.37 |
| Landis+Gyr Group AG ...............................  | Count | 114 079 | 114 079 |  | CHF | 60.95 | 6 530 168.34 | 1.31 |
| Orsted A/S........................................  | Count | 58 200 | 24 394 | 7 120 | DKK | 766.8 | 5 988 129.65 | 1.20 |
| Vestas Wind Systems A/S ...........................  | Count | 71 345 | 58 876 | 32 528 | DKK | 676 | 6 471 371.68 | 1.30 |
| EDP Renovaveis SA ................................  | Count | 357 849 | 357 849 |  | EUR | 12.18 | 4 358 600.82 | 0.88 |
| Kingspan Group PLC ................................  | Count | 116 609 | 59 455 | 30 310 | EUR | 56.75 | 6 617 560.75 | 1.33 |
| Koninklijke Philips NV ...............................  | Count | 426 461 | 268 211 | 85 789 | EUR | 41.225 | 17 580 854.73 | 3.53 |
| Neste Oyj ........................................  | Count | 209 891 | 186 509 | 70 695 | EUR | 34.47 | 7 234 942.77 | 1.45 |
| Nordex SE ........................................  | Count | 483 426 | 323 640 | 116 034 | EUR | 8.725 | 4 217 891.85 | 0.85 |
| Sanofi............................................  | Count | 53 605 | 53 605 |  | EUR | 90.36 | 4 843 747.80 | 0.97 |
| SAP SE ..........................................  | Count | 69 928 | 69 928 |  | EUR | 123.04 | 8 603 941.12 | 1.73 |
| Schneider Electric SE ...............................  | Count | 116 352 | 55 890 |  | EUR | 98.06 | 11 409 477.12 | 2.29 |
| Siemens AG ......................................  | Count | 80 978 | 27 838 | 22 303 | EUR | 103.78 | 8 403 896.84 | 1.69 |
| Umicore SA .......................................  | Count | 100 262 | 65 083 | 23 685 | EUR | 41.58 | 4 168 893.96 | 0.84 |
| UPM-Kymmene Oyj ................................  | Count | 85 844 | 85 844 |  | EUR | 25.67 | 2 203 615.48 | 0.44 |
| Veolia Environnement SA ............................  | Count | 818 572 | 441 727 | 199 943 | EUR | 20.07 | 16 428 740.04 | 3.30 |
| Verbund AG .......................................  | Count | 86 724 | 42 502 |  | EUR | 39.38 | 3 415 191.12 | 0.69 |
| AstraZeneca PLC...................................  | Count | 168 991 | 82 157 | 5 247 | GBP | 84.22 | 15 619 798.17 | 3.13 |
| Bellway PLC ......................................  | Count | 122 331 | 155 301 | 32 970 | GBP | 25.35 | 3 403 385.11 | 0.68 |
| John Laing Group PLC ..............................  | Count | 2 520 283 | 1 130 540 |  | GBP | 3.475 | 9 611 158.25 | 1.93 |
| Pearson PLC ......................................  | Count | 464 506 | 270 855 | 103 214 | GBP | 5.756 | 2 934 328.41 | 0.59 |
| Daiseki Co., Ltd ....................................  | Count | 105 500 | 84 700 | 41 800 | JPY | 2 870 | 2 508 360.28 | 0.50 |
| Unicharm Corp. ....................................  | Count | 128 600 | 84 700 | 18 700 | JPY | 4 420 | 4 708 892.73 | 0.95 |
| Mowi ASA ........................................  | Count | 237 861 | 113 005 | 46 373 | NOK | 181.85 | 3 975 456.62 | 0.80 |
| Scatec Solar ASA...................................  | Count | 239 224 | 103 159 | 13 002 | NOK | 156.9 | 3 449 674.86 | 0.69 |
| AbbVie, Inc. .......................................  | Count | 79 609 | 79 609 |  | USD | 96.07 | 6 824 037.17 | 1.37 |
| Acuity Brands, Inc. .................................  | Count | 45 310 | 61 927 | 25 422 | USD | 95.93 | 3 878 286.88 | 0.78 |
| Advanced Drainage Systems, Inc. .....................  | Count | 109 540 | 121 020 | 11 480 | USD | 47.59 | 4 651 359.05 | 0.93 |
| BioMarin Pharmaceutical, Inc..........................  | Count | 97 899 | 78 199 | 10 771 | USD | 122.75 | 10 722 379.66 | 2.15 |
| Chegg, Inc. .......................................  | Count | 101 940 | 101 940 |  | USD | 67.72 | 6 159 606.99 | 1.24 |
| Citrix Systems, Inc. .................................  | Count | 62 026 | 45 775 | 24 394 | USD | 147.13 | 8 142 662.49 | 1.63 |
| Covanta Holding Corp................................  | Count | 604 618 | 514 809 | 182 924 | USD | 9.27 | 5 000 946.75 | 1.00 |
| Darling Ingredients, Inc. .............................  | Count | 587 775 | 472 534 | 206 014 | USD | 23.75 | 12 455 642.89 | 2.50 |
| Ecolab, Inc. .......................................  | Count | 26 512 | 22 671 | 5 550 | USD | 194.74 | 4 606 690.98 | 0.92 |
| Enphase Energy, Inc.................................  | Count | 85 675 | 85 675 |  | USD | 47.88 | 3 660 156.70 | 0.73 |
| Equinix, Inc. .......................................          | Count | 28 902 | 16 474 | 2 833 | USD | 693.88 | 17 893 845.81 | 3.59 |
| First Solar, Inc......................................  | Count | 106 501 | 95 146 | 111 276 | USD | 49.37 | 4 691 462.37 | 0.94 |
| Grand Canyon Education, Inc. .........................  | Count | 69 103 | 75 538 | 6 435 | USD | 90.88 | 5 603 464.75 | 1.12 |
| HP, Inc. ..........................................  | Count | 454 155 | 489 702 | 35 547 | USD | 17.05 | 6 909 075.00 | 1.39 |
| Insmed, Inc........................................  | Count | 133 748 | 117 528 | 36 382 | USD | 27.05 | 3 228 092.64 | 0.65 |
| Itron, Inc. .........................................           | Count | 169 143 | 120 533 | 38 211 | USD | 64.97 | 9 805 242.07 | 1.97 |
| Masco Corp. ......................................  | Count | 342 918 | 209 539 | 47 402 | USD | 49.08 | 15 017 106.48 | 3.01 |
| Medtronic PLC ....................................  | Count | 181 040 | 124 292 | 68 916 | USD | 89.43 | 14 446 052.73 | 2.90 |
| Merck & Co., Inc. ..................................  | Count | 144 673 | 102 101 | 55 330 | USD | 76.39 | 9 860 874.27 | 1.98 |
| Microsoft Corp. ....................................  | Count | 160 651 | 91 980 | 28 613 | USD | 199.69 | 28 624 056.10 | 5.74 |
| New Oriental Education & Technology Group, Inc. -ADR- ...  | Count | 139 217 | 92 251 | 6 186 | USD | 133.51 | 16 584 313.20 | 3.33 |
| NVIDIA Corp. ......................................  | Count | 12 880 | 26 924 | 14 044 | USD | 379.26 | 4 358 573.04 | 0.88 |
| Ormat Technologies, Inc. ............................  | Count | 44 229 | 48 074 | 70 431 | USD | 63.36 | 2 500 424.31 | 0.50 |
| Pentair PLC .......................................  | Count | 149 636 | 149 636 |  | USD | 37.36 | 4 988 091.16 | 1.00 |
| Pfizer, Inc. ........................................  | Count | 353 160 | 374 458 | 60 196 | USD | 32.29 | 10 174 919.39 | 2.04 |
| Salesforce.com, Inc. ................................  | Count | 48 725 | 35 288 | 25 674 | USD | 184.68 | 8 029 031.06 | 1.61 |
| Solaredge Technologies, Inc. .........................  | Count | 78 916 | 57 004 | 26 353 | USD | 137.52 | 9 683 276.92 | 1.94 |
| SunPower Corp. ...................................  | Count | 274 132 | 403 717 | 202 071 | USD | 7.675 | 1 877 282.12 | 0.38 |
| Sunrun, Inc. .......................................          | Count | 214 769 | 246 052 | 202 600 | USD | 19.48 | 3 732 948.27 | 0.75 |
| TAL Education Group -ADR- ..........................  | Count | 54 158 | 100 221 | 46 063 | USD | 68.59 | 3 314 475.74 | 0.67 |
| UnitedHealth Group, Inc..............................  | Count | 51 447 | 51 447 |  | USD | 288.98 | 13 265 366.89 | 2.66 |
| Universal Display Corp. ..............................  | Count | 34 188 | 24 144 |  | USD | 148.62 | 4 533 591.41 | 0.91 |
| VMware, Inc. ......................................  | Count | 119 401 | 86 129 | 2 829 | USD | 151.25 | 16 113 681.36 | 3.23 |
| Investment fund units |  |  |  |  |  |  | 19 805 015.78 | 3.97 |
| In-group fund units Deutsche Global Liquidity Series Plc - Managed Dollar und - EUR - (0.150%) ...............................  | Units | 2 138 | 9 428 | 7 976 | USD | 10 380.74 | 19 805 015.78 | 3.97 |
| Total securities portfolio |  |  |  |  |  |  | 477 190 794.21 | 95.76 |
| Cash at bank |  |  |  |  |  |  | 22 132 303.12 | 4.44 |
| Demand deposits at Depositary EUR deposits......................................  | EUR |  |  |  |  |  | 12 535 267.81 | 2.52 |

| DWS Invest SDG Global Equities |  |
| --- | --- |
| 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 |
| Deposits in other EU/EEA currencies |  |  |  |  |  |  |  |
| British pound	GBP | 9 058 |  |  |  |  | 9 941.40 | 0.00 |
| Danish krone	DKK | 74 569 |  |  |  |  | 10 005.63 | 0.00 |
| Norwegian krone	NOK | 108 274 |  |  |  |  | 9 951.15 | 0.00 |
| Deposits in non-EU/EEA currencies |  |  |  |  |  |  |  |
| Australian dollar	AUD | 16 421 |  |  |  |  | 10 061.58 | 0.00 |
| Hong Kong dollar	HKD | 84 001 |  |  |  |  | 9 670.58 | 0.00 |
| Japanese yen	JPY | 1 201 977 |  |  |  |  | 9 957.53 | 0.00 |
| Swiss franc	CHF | 10 645 |  |  |  |  | 9 997.29 | 0.00 |
| U.S. dollar	USD | 10 677 886 |  |  |  |  | 9 527 450.15 | 1.92 |
| Other assets |  |  |  |  |  | 1 120 911.45 | 0.22 |
| Dividends/Distributions receivable .....................  |  |  |  |  |  | 663 216.31 | 0.13 |
| Receivables from exceeding the expense cap ............  |  |  |  |  |  | 17 433.38 | 0.00 |
| Other receivables ..................................  |  |  |  |  |  | 440 261.76 | 0.09 |
| Receivables from share certificate transactions |  |  |  |  |  | 2 606 323.32 | 0.52 |
| Total assets |  |  |  |  |  | 503 050 332.10 | 100.94 |
| Other liabilities |  |  |  |  |  | -4 483 697.81 | -0.89 |
| Additional other liabilities.............................  |  |  |  |  |  | -4 483 697.81 | -0.89 |
| Liabilities from share certificate transactions |  |  |  |  |  | -263 607.56 | -0.05 |
| Total liabilities |  |  |  |  |  | -4 747 305.37 | -0.94 |
| Net assets |  |  |  |  |  | 498 303 026.73 | 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 | 122.56 |
| Class FD .........................................  | EUR | 121.22 |
| Class IC ..........................................  | EUR | 123.19 |
| Class ID ..........................................  | EUR | 121.47 |
| Class LC .........................................  | EUR | 120.90 |
| Class LD .........................................  | EUR | 120.42 |
| Class NC .........................................  | EUR | 120.16 |
| Class TFC ........................................  | EUR | 114.38 |
| Class TFD ........................................  | EUR | 113.79 |
| Class XC .........................................  | EUR | 123.42 |
| Class XD .........................................  | EUR | 121.57 |
| Number of shares outstanding Class FC .........................................  | Count | 41 888.000 |
| Class FD .........................................  | Count | 100.000 |
| Class IC ..........................................  | Count | 100.000 |
| Class ID ..........................................  | Count | 100.000 |
| Class LC .........................................  | Count | 28 837.939 |
| Class LD .........................................  | Count | 3 967 766.521 |
| Class NC .........................................  | Count | 102.000 |
| Class TFC ........................................  | Count | 21 703.000 |
| Class TFD ........................................  | Count | 6 816.000 |
| Class XC .........................................  | Count | 69 495.475 |
| Class XD .........................................  | Count | 100.000 |

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 .........................  | % | 86.757 |
| --- | --- | --- |
| Highest market risk exposure .........................  | % | 103.081 |
| Average market risk exposure ........................  | % | 94.099 |

The values-at-risk were calculated for the period from January 1, 2020, through June 30, 2020, 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 0.0, 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 0.00 as of the reporting date.
 Exchange rates (indirect quotes)	
As of June 30, 2020
| Australian dollar	AUD | 1.632080 | = EUR | 1 |
| --- | --- | --- | --- |
| Swiss franc	CHF | 1.064768 | = EUR | 1 |
| Danish krone	DKK | 7.452704 | = EUR | 1 |
| British pound	GBP | 0.911178 | = EUR | 1 |
| Hong Kong dollar	HKD | 8.686201 | = EUR | 1 |
| Japanese yen	JPY | 120.710331 | = EUR | 1 |
| Norwegian krone	NOK | 10.880517 | = EUR | 1 |
| U.S. dollar	USD | 1.120750 | = 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.
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.

Translation (ENDE, 2020-06-30):
# DWS Invest SDG Global Equities
DWS INVEST SDG GLOBAL EQUITIES

### Wertentwicklung der Anteilklassen (in EUR)
| Anteilklasse | ISIN | 6 Monate |
| --- | --- | --- |
| Klasse LC | LU1891311356 | -2,6% |
| Klasse FC | LU1891310895 | -2,3% |
| Klasse FD | LU1891310978 | -2,3% |
| Klasse IC | LU1891311190 | -2,1% |
| Klasse ID | LU1891311273 | -2,1% |
| Klasse LD | LU1891311430 | -2,6% |
| Klasse NC | LU1914384349 | -2,9% |
| Klasse TFC | LU1932912360 | -2,3% |
| Klasse TFD | LU1932912527 | -2,3% |
| Klasse XC | LU1891311513 | -2,1% |
| Klasse XD | LU1891311604 | -2,1% |

Wertentwicklung nach BVI-Methode, d. h. ohne Berücksichtigung des Ausgabeaufschlages.
Wertentwicklungen der Vergangenheit ermöglichen keine Prognose für die Zukunft.	Stand: 30.6.2020
DWS Invest SDG Global Equities
| Vermögensübersicht zum 30.6.2020 |  |
| --- | --- |
|  | Bestand in EUR | %-Anteil am Fondsvermögen |
| I. Vermögensgegenstände |  |  |
| 1. Aktien (Branchen) Informationstechnologie | 80 781 020,17 | 16,21 |
| Telekommunikationsdienste | 2 934 328,41 | 0,59 |
| Dauerhafte Konsumgüter | 159 367 976,37 | 31,99 |
| Energie | 61 160 334,13 | 12,27 |
| Hauptverbrauchsgüter | 3 403 385,11 | 0,68 |
| Finanzsektor | 17 893 845,81 | 3,59 |
| Grundstoffe | 10 979 200,42 | 2,20 |
| Industrien | 88 174 602,07 | 17,69 |
| Versorger | 32 691 085,94 | 6,57 |
| Summe Aktien | 457 385 778,43 | 91,79 |
| 2. Investmentanteile Sonstige Fonds | 19 805 015,78 | 3,97 |
| Summe Investmentanteile | 19 805 015,78 | 3,97 |
| 3. Bankguthaben | 22 132 303,12 | 4,44 |
| 4. Sonstige Vermögensgegenstände | 1 120 911,45 | 0,22 |
| 5. Forderungen aus Anteilscheingeschäften | 2 606 323,32 | 0,52 |
| II. Verbindlichkeiten |  |  |
| 1. Sonstige Verbindlichkeiten | -4 483 697,81 | - 0,89 |
| 2. Verbindlichkeiten aus Anteilscheingeschäften | -263 607,56 | - 0,05 |
| III. Fondsvermögen | 498 303 026,73 | 100,00 |
| Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein. |  |  |

| Vermögensaufstellung zum 30.6.2020 |  |
| --- | --- |
|  | 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	457 385 778,43	91,79
Aktien
| Lend Lease Group .................................  | Stück | 600 261 | 368 304 | 41 609 | AUD | 12,37 | 4 549 548,46 | 0,91 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Geberit AG .......................................  | Stück | 15 339 | 6 271 | 250 | CHF | 472,8 | 6 811 134,82 | 1,37 |
| Landis+Gyr Group AG ..............................  | Stück | 114 079 | 114 079 |  | CHF | 60,95 | 6 530 168,34 | 1,31 |
| Orsted A/S .......................................  | Stück | 58 200 | 24 394 | 7 120 | DKK | 766,8 | 5 988 129,65 | 1,20 |
| Vestas Wind Systems A/S ...........................  | Stück | 71 345 | 58 876 | 32 528 | DKK | 676 | 6 471 371,68 | 1,30 |
| EDP Renovaveis SA  ...............................  | Stück | 357 849 | 357 849 |  | EUR | 12,18 | 4 358 600,82 | 0,88 |
| Kingspan Group PLC ...............................  | Stück | 116 609 | 59 455 | 30 310 | EUR | 56,75 | 6 617 560,75 | 1,33 |
| Koninklijke Philips NV ...............................  | Stück | 426 461 | 268 211 | 85 789 | EUR | 41,225 | 17 580 854,73 | 3,53 |
| Neste Oyj ........................................  | Stück | 209 891 | 186 509 | 70 695 | EUR | 34,47 | 7 234 942,77 | 1,45 |
| Nordex SE .......................................  | Stück | 483 426 | 323 640 | 116 034 | EUR | 8,725 | 4 217 891,85 | 0,85 |
| Sanofi ...........................................  | Stück | 53 605 | 53 605 |  | EUR | 90,36 | 4 843 747,80 | 0,97 |
| SAP SE ..........................................  | Stück | 69 928 | 69 928 |  | EUR | 123,04 | 8 603 941,12 | 1,73 |
| Schneider Electric SE ...............................  | Stück | 116 352 | 55 890 |  | EUR | 98,06 | 11 409 477,12 | 2,29 |
| Siemens AG ......................................  | Stück | 80 978 | 27 838 | 22 303 | EUR | 103,78 | 8 403 896,84 | 1,69 |
| Umicore SA ......................................  | Stück | 100 262 | 65 083 | 23 685 | EUR | 41,58 | 4 168 893,96 | 0,84 |
| UPM-Kymmene Oyj ................................  | Stück | 85 844 | 85 844 |  | EUR | 25,67 | 2 203 615,48 | 0,44 |
| Veolia Environnement SA ............................  | Stück | 818 572 | 441 727 | 199 943 | EUR | 20,07 | 16 428 740,04 | 3,30 |
| Verbund AG ......................................  | Stück | 86 724 | 42 502 |  | EUR | 39,38 | 3 415 191,12 | 0,69 |
| AstraZeneca PLC ..................................  | Stück | 168 991 | 82 157 | 5 247 | GBP | 84,22 | 15 619 798,17 | 3,13 |
| Bellway PLC ......................................  | Stück | 122 331 | 155 301 | 32 970 | GBP | 25,35 | 3 403 385,11 | 0,68 |
| John Laing Group PLC  .............................  | Stück | 2 520 283 | 1 130 540 |  | GBP | 3,475 | 9 611 158,25 | 1,93 |
| Pearson PLC ......................................  | Stück | 464 506 | 270 855 | 103 214 | GBP | 5,756 | 2 934 328,41 | 0,59 |
| Daiseki Co., Ltd ...................................  | Stück | 105 500 | 84 700 | 41 800 | JPY | 2 870 | 2 508 360,28 | 0,50 |
| Unicharm Corp. ...................................  | Stück | 128 600 | 84 700 | 18 700 | JPY | 4 420 | 4 708 892,73 | 0,95 |
| Mowi ASA .......................................  | Stück | 237 861 | 113 005 | 46 373 | NOK | 181,85 | 3 975 456,62 | 0,80 |
| Scatec Solar ASA ..................................  | Stück | 239 224 | 103 159 | 13 002 | NOK | 156,9 | 3 449 674,86 | 0,69 |
| AbbVie, Inc. ......................................  | Stück | 79 609 | 79 609 |  | USD | 96,07 | 6 824 037,17 | 1,37 |
| Acuity Brands, Inc. .................................  | Stück | 45 310 | 61 927 | 25 422 | USD | 95,93 | 3 878 286,88 | 0,78 |
| Advanced Drainage Systems, Inc.  ....................  | Stück | 109 540 | 121 020 | 11 480 | USD | 47,59 | 4 651 359,05 | 0,93 |
| BioMarin Pharmaceutical, Inc. ........................  | Stück | 97 899 | 78 199 | 10 771 | USD | 122,75 | 10 722 379,66 | 2,15 |
| Chegg, Inc. ......................................  | Stück | 101 940 | 101 940 |  | USD | 67,72 | 6 159 606,99 | 1,24 |
| Citrix Systems, Inc. ................................  | Stück | 62 026 | 45 775 | 24 394 | USD | 147,13 | 8 142 662,49 | 1,63 |
| Covanta Holding Corp. ..............................  | Stück | 604 618 | 514 809 | 182 924 | USD | 9,27 | 5 000 946,75 | 1,00 |
| Darling Ingredients, Inc. .............................  | Stück | 587 775 | 472 534 | 206 014 | USD | 23,75 | 12 455 642,89 | 2,50 |
| Ecolab, Inc. .......................................  | Stück | 26 512 | 22 671 | 5 550 | USD | 194,74 | 4 606 690,98 | 0,92 |
| Enphase Energy, Inc. ...............................  | Stück | 85 675 | 85 675 |  | USD | 47,88 | 3 660 156,70 | 0,73 |
| Equinix, Inc. ......................................  | Stück | 28 902 | 16 474 | 2 833 | USD | 693,88 | 17 893 845,81 | 3,59 |
| First Solar, Inc. ....................................  | Stück | 106 501 | 95 146 | 111 276 | USD | 49,37 | 4 691 462,37 | 0,94 |
| Grand Canyon Education, Inc. ........................  | Stück | 69 103 | 75 538 | 6 435 | USD | 90,88 | 5 603 464,75 | 1,12 |
| HP, Inc. ..........................................  | Stück | 454 155 | 489 702 | 35 547 | USD | 17,05 | 6 909 075,00 | 1,39 |
| Insmed, Inc. ......................................  | Stück | 133 748 | 117 528 | 36 382 | USD | 27,05 | 3 228 092,64 | 0,65 |
| Itron, Inc. ........................................  | Stück | 169 143 | 120 533 | 38 211 | USD | 64,97 | 9 805 242,07 | 1,97 |
| Masco Corp. ......................................  | Stück | 342 918 | 209 539 | 47 402 | USD | 49,08 | 15 017 106,48 | 3,01 |
| Medtronic PLC ....................................  | Stück | 181 040 | 124 292 | 68 916 | USD | 89,43 | 14 446 052,73 | 2,90 |
| Merck & Co., Inc. ..................................  | Stück | 144 673 | 102 101 | 55 330 | USD | 76,39 | 9 860 874,27 | 1,98 |
| Microsoft Corp. ...................................  | Stück | 160 651 | 91 980 | 28 613 | USD | 199,69 | 28 624 056,10 | 5,74 |
| New Oriental Education & Technology Group, Inc. -ADR- ...  | Stück | 139 217 | 92 251 | 6 186 | USD | 133,51 | 16 584 313,20 | 3,33 |
| NVIDIA Corp. .....................................  | Stück | 12 880 | 26 924 | 14 044 | USD | 379,26 | 4 358 573,04 | 0,88 |
| Ormat Technologies, Inc. ...........................  | Stück | 44 229 | 48 074 | 70 431 | USD | 63,36 | 2 500 424,31 | 0,50 |
| Pentair PLC ......................................  | Stück | 149 636 | 149 636 |  | USD | 37,36 | 4 988 091,16 | 1,00 |
| Pfizer, Inc. ........................................  | Stück | 353 160 | 374 458 | 60 196 | USD | 32,29 | 10 174 919,39 | 2,04 |
| Salesforce.com, Inc. ................................  | Stück | 48 725 | 35 288 | 25 674 | USD | 184,68 | 8 029 031,06 | 1,61 |
| Solaredge Technologies, Inc. .........................  | Stück | 78 916 | 57 004 | 26 353 | USD | 137,52 | 9 683 276,92 | 1,94 |
| SunPower Corp. ...................................  | Stück | 274 132 | 403 717 | 202 071 | USD | 7,675 | 1 877 282,12 | 0,38 |
| Sunrun, Inc. ......................................  | Stück | 214 769 | 246 052 | 202 600 | USD | 19,48 | 3 732 948,27 | 0,75 |
| TAL Education Group -ADR- ..........................  | Stück | 54 158 | 100 221 | 46 063 | USD | 68,59 | 3 314 475,74 | 0,67 |
| UnitedHealth Group, Inc. ............................  | Stück | 51 447 | 51 447 |  | USD | 288,98 | 13 265 366,89 | 2,66 |
| Universal Display Corp. .............................  | Stück | 34 188 | 24 144 |  | USD | 148,62 | 4 533 591,41 | 0,91 |
| VMware, Inc. .....................................  | Stück | 119 401 | 86 129 | 2 829 | USD | 151,25 | 16 113 681,36 | 3,23 |
| Investmentanteile |  |  |  |  |  |  | 19 805 015,78 | 3,97 |
| Gruppeneigene Investmentanteile Deutsche Global Liquidity Series Plc - Managed Dollar und - EUR - (0,150%) ...............................  | Anteile | 2 138 | 9 428 | 7 976 | USD | 10 380,74 | 19 805 015,78 | 3,97 |
| Summe Wertpapiervermögen |  |  |  |  |  |  | 477 190 794,21 | 95,76 |
| Bankguthaben |  |  |  |  |  |  | 22 132 303,12 | 4,44 |
| Verwahrstelle (täglich fällig) EUR-Guthaben ....................................  |  | EUR |  |  |  |  | 12 535 267,81 | 2,52 |

DWS Invest SDG Global Equities
| Wertpapierbezeichnung | Stück bzw. Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Währung | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  | Währung | Bestand | im Berichtszeitraum | EUR | vermögen |
| Guthaben in sonstigen EU/EWR-Währungen |  |  |  |  |  |
| Britisches Pfund ...................................  | GBP | 9 058 |  | 9 941,40 | 0,00 |
| Dänische Kronen ..................................  | DKK | 74 569 |  | 10 005,63 | 0,00 |
| Norwegische Kronen ...............................  | NOK | 108 274 |  | 9 951,15 | 0,00 |
| Guthaben in Nicht-EU/EWR-Währungen |  |  |  |  |  |
| Australischer Dollar ................................  | AUD | 16 421 |  | 10 061,58 | 0,00 |
| Hongkong Dollar ...................................  | HKD | 84 001 |  | 9 670,58 | 0,00 |
| Japanischer Yen ...................................  | JPY | 1 201 977 |  | 9 957,53 | 0,00 |
| Schweizer Franken .................................  | CHF | 10 645 |  | 9 997,29 | 0,00 |
| US-Dollar ........................................  | USD | 10 677 886 |  | 9 527 450,15 | 1,92 |
| Sonstige Vermögensgegenstände |  |  |  | 1 120 911,45 | 0,22 |
| Dividenden- / Ausschüttungsansprüche .................  |  |  |  | 663 216,31 | 0,13 |
| Forderungen aus der Überschreitung des „Expense Cap“ ..  |  |  |  | 17 433,38 | 0,00 |
| Sonstige Ansprüche ................................  |  |  |  | 440 261,76 | 0,09 |
| Forderungen aus Anteilscheingeschäften |  |  |  | 2 606 323,32 | 0,52 |
| Summe der Vermögensgegenstände |  |  |  | 503 050 332,10 | 100,94 |
| Sonstige Verbindlichkeiten |  |  |  | -4 483 697,81 | -0,89 |
| Andere sonstige Verbindlichkeiten .....................  |  |  |  | -4 483 697,81 | -0,89 |
| Verbindlichkeiten aus Anteilscheingeschäften |  |  |  | -263 607,56 | -0,05 |
| Summe der Verbindlichkeiten |  |  |  | -4 747 305,37 | -0,94 |
| Fondsvermögen |  |  |  | 498 303 026,73 | 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 | 122,56 |
| Klasse FD ........................................  | EUR | 121,22 |
| Klasse IC .........................................  | EUR | 123,19 |
| Klasse ID ........................................  | EUR | 121,47 |
| Klasse LC ........................................  | EUR | 120,90 |
| Klasse LD ........................................  | EUR | 120,42 |
| Klasse NC ........................................  | EUR | 120,16 |
| Klasse TFC .......................................  | EUR | 114,38 |
| Klasse TFD .......................................  | EUR | 113,79 |
| Klasse XC ........................................  | EUR | 123,42 |
| Klasse XD ........................................  | EUR | 121,57 |
| Umlaufende Anteile Klasse FC ........................................  | Stück | 41 888,000 |
| Klasse FD ........................................  | Stück | 100,000 |
| Klasse IC .........................................  | Stück | 100,000 |
| Klasse ID ........................................  | Stück | 100,000 |
| Klasse LC ........................................  | Stück | 28 837,939 |
| Klasse LD ........................................  | Stück | 3 967 766,521 |
| Klasse NC ........................................  | Stück | 102,000 |
| Klasse TFC .......................................  | Stück | 21 703,000 |
| Klasse TFD .......................................  | Stück | 6 816,000 |
| Klasse XC ........................................  | Stück | 69 495,475 |
| Klasse XD ........................................  | Stück | 100,000 |

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 .....................  | % | 86,757 |
| --- | --- | --- |
| größter potenzieller Risikobetrag ......................  | % | 103,081 |
| durchschnittlicher potenzieller Risikobetrag ..............  | % | 94,099 |

Die Risikokennzahlen wurden für den Zeitraum vom 1.1.2020 bis 30.6.2020 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 0,0, wobei zur Berechnung die Summe der Nominalbeträge der Derivate in Relation zum Fondsvermögen gesetzt wurde (Nominalwertmethode).
Das durch Derivate erzielte zugrundeliegende 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.
 Devisenkurse (in Mengennotiz)	
per 30.6.2020
| Australischer Dollar	AUD | 1,632080 | = EUR | 1 |
| --- | --- | --- | --- |
| Schweizer Franken	CHF | 1,064768 | = EUR | 1 |
| Dänische Kronen	DKK | 7,452704 | = EUR | 1 |
| Britisches Pfund	GBP | 0,911178 | = EUR | 1 |
| Hongkong Dollar	HKD | 8,686201 | = EUR | 1 |
| Japanischer Yen	JPY | 120,710331 | = EUR | 1 |
| Norwegische Kronen	NOK | 10,880517 | = EUR | 1 |
| US-Dollar	USD | 1,120750 | = 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.
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.