# DWS Invest Convertibles
DWS INVEST CONVERTIBLES

### Performance of share classes (in euro)
| Share class | ISIN | 6 months |
| --- | --- | --- |
| Class LC | LU0179219752 | 4.0% |
| Class FC | LU0179220412 | 4.3% |
| Class FC (CE) | LU0740833669 | 4.9% |
| Class FD | LU0616868518 | 4.3% |
| Class LC (CE) | LU0740833404 | 4.6% |
| Class LD | LU0179219919 | 4.0% |
| Class NC | LU0179220255 | 3.8% |
| Class PFC | LU1054326076 | 4.0% |
| Class RC (CE) | LU1483365398 | 4.9% |
| Class TFC | LU1663841507 | 4.3% |
| Class TFD | LU1663843032 | 4.3% |
| Class CHF FCH 1 | LU0616868195 | 4.0% |
| Class CHF LCH 1 | LU0616867890 | 3.7% |
| Class GBP DH RD 2 | LU0399358133 | 4.3% |
| Class SEK FCH 3 | LU1282658647 | 4.2% |
| Class SEK LCH 3 | LU1282658720 | 3.9% |
| Class USD FCH 4 | LU0273179522 | 5.3% |
| Class USD LCH 4 | LU0273170141 | 5.1% |
| Class USD TFCH 4 | LU1663844279 | 5.3% |

1 
in CHF
2 
in GBP
3 
in SEK
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, 2020
The format used for complete dates
in security names in the investment
portfolio is “day/month/year”.
DWS Invest Convertibles
| Statement of net assets as of June 30, 2020 |  |
| --- | --- |
|  | Amount in EUR | % of net assets |
| I. Assets |  |  |
| 1. Bonds (issuers) Companies | 3 210 694.28 | 0.39 |
| Institutions | 778 924 876.31 | 95.10 |
| Total bonds | 782 135 570.59 | 95.49 |
| 2. Derivatives | 18 017 454.61 | 2.20 |
| 3. Cash at bank | 21 988 112.28 | 2.69 |
| 4. Other assets | 2 949 932.99 | 0.36 |
| 5. Receivables from share certificate transactions | 84 737.12 | 0.01 |
| II. Liabilities |  |  |
| 1. Loan liabilities | -1 308 048.87 | - 0.16 |
| 2. Other liabilities | -2 466 017.80 | - 0.30 |
| 3. Liabilities from share certificate transactions | -2 350 741.61 | - 0.29 |
| III. Net assets | 819 050 999.31 | 100.00 |
| Negligible rounding errors may have arisen due to the rounding of calculated percentages. |  |  |

Investment portfolio – December 31, 2019
| Security name | Count/ units/ currency | Quantity/ principal amount | Purchases/ additions in the | Sales/ disposals reporting period | Market price | Total market value in EUR | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Securities traded on an exchange |  |  |  |  |  | 350 849 068.11 | 42.84 |
| Interest-bearing securities |  |  |  |  |  |  |  |
| 2.30 | % DEXUS Finance Pty Ltd (MTN) 2019/2026 .......  | AUD | 6 100 000 | 2 700 000 |  | % | 96.478 | 3 605 905.53 | 0.44 |
| 0.15 | % Sika AG (MTN) 2018/2025....................  | CHF | 11 640 000 | 5 340 000 | 3 860 000 | % | 117.637 | 12 860 027.06 | 1.57 |
| 1.25 | % ADO Properties SA (MTN) 2018/2023 ..........  | EUR | 5 100 000 | 4 100 000 | 3 200 000 | % | 92.565 | 4 720 815.00 | 0.58 |
| 1.50 | % Amadeus IT Group SA (MTN) 2020/2025 ........  | EUR | 3 000 000 | 3 000 000 |  | % | 121.326 | 3 639 780.00 | 0.44 |
| 0.00 | % ANLLIAN Capital Ltd (MTN) 2020/2025 .........  | EUR | 8 000 000 | 8 000 000 |  | % | 93.122 | 7 449 760.00 | 0.91 |
| 0.00 | % Atos SE (MTN) 2019/2024 ...................  | EUR | 3 100 000 | 800 000 | 1 300 000 | % | 131.388 | 4 073 012.50 | 0.50 |
| 0.50 | % Cellnex Telecom SA (MTN) 2019/2028 ..........  | EUR | 8 900 000 | 4 200 000 | 2 000 000 | % | 129.199 | 11 498 711.00 | 1.40 |
| 1.00 | % Corp Economica Delta SA (MTN) 2016/2023 .....  | EUR | 7 500 000 | 2 500 000 |  | % | 97.5 | 7 312 500.00 | 0.89 |
| 2.50 | % Cromwell SPV Finance Pty Ltd (MTN) 2018/2025 . | EUR | 6 000 000 | 6 000 000 |  | % | 97.032 | 5 821 920.00 | 0.71 |
| 1.00 | % Delivery Hero SE (MTN) 2020/2027 ............  | EUR | 11 400 000 | 11 400 000 |  | % | 117.992 | 13 451 031.00 | 1.64 |
| 0.05 | % Deutsche Post AG (MTN) 2017/2025 ...........  | EUR | 5 800 000 | 5 800 000 |  | % | 98.64 | 5 721 120.00 | 0.70 |
| 0.60 | % Deutsche Wohnen SE (MTN) 2017/2026 ........  | EUR | 8 800 000 | 3 800 000 |  | % | 107.49 | 9 459 120.00 | 1.16 |
| 0.00 | % Eliott Capital Sarl 2019/2022 ..................  | EUR | 5 000 000 | 5 000 000 |  | % | 96.302 | 4 815 100.00 | 0.59 |
| 0.00 | % Geely Sweden Financials Holding AB (MTN) 2019/2024 * ..............................  | EUR | 8 600 000 | 4 800 000 | 4 200 000 | % | 101.22 | 8 704 920.00 | 1.06 |
| 0.00 | % GN Store Nord A/S (MTN) 2019/2024 * .........  | EUR | 4 200 000 | 4 200 000 |  | % | 100.75 | 4 231 500.00 | 0.52 |
| 0.00 0.625 | % Iberdrola International BV (MTN) 2015/2022......  % International Consolidated Airlines Group SA | EUR | 2 100 000 |  | 1 000 000 | % | 127.138 | 2 669 908.50 | 0.33 |
| (MTN) 2015/2022 ..........................  | EUR | 9 500 000 |  | 6 000 000 | % | 81.054 | 7 700 130.00 | 0.94 |
| 0.00  % LG Chem Ltd 2018/2021.....................  | EUR | 4 000 000 | 6 000 000 | 5 000 000 | % | 102.474 | 4 098 980.00 | 0.50 |
| 0.00  % Morgan Stanley Finance LLC (MTN) 2018/2021 ...  | EUR | 7 000 000 | 4 000 000 | 2 000 000 | % | 98.4 | 6 888 000.00 | 0.84 |
| 0.238 % Symrise AG (MTN) 2017/2024 ................  1.50 % Derwent London Capital No. 3 Jersey Ltd (MTN) 2019/2025 ................................  | EUR GBP | 2 700 000 6 000 000 | 600 000 6 000 000 | 600 000 | % % | 125.85 94.792 | 3 397 950.00 6 241 939.31 | 0.41 0.76 |
| 0.90 | % National Grid North America, Inc. (MTN) 2015/2020 ................................  | GBP | 1 500 000 | 1 500 000 |  | % | 99.87 | 1 644 071.65 | 0.20 |
| 0.875 | % Ocado Group PLC (MTN) 2019/2025 ...........  | GBP | 4 000 000 | 4 000 000 |  | % | 131.766 | 5 784 421.86 | 0.71 |
| 0.00 | % Vodafone Group PLC (MTN) 2015/2020 .........  | GBP | 5 000 000 | 5 000 000 |  | % | 99.407 | 5 454 859.60 | 0.67 |
| 0.00 | % China Conch Venture Holdings International Ltd (MTN) 2018/2023 ..........................  | HKD | 36 000 000 | 23 000 000 | 15 000 000 | % | 107.618 | 4 460 253.51 | 0.54 |
| 2.00 | % China Education Group Holdings Ltd (MTN) 2019/2024 ................................  | HKD | 61 000 000 | 61 000 000 |  | % | 107.356 | 7 539 217.38 | 0.92 |
| 0.00 | % Harvest International Co. (MTN) 2017/2022 ......  | HKD | 86 000 000 | 20 000 000 | 20 000 000 | % | 102.794 | 10 177 338.36 | 1.24 |
| 4.50 | % Smart Insight International Ltd (MTN) 2018/2023..  | HKD | 68 000 000 |  | 26 000 000 | % | 111.893 | 8 759 552.89 | 1.07 |
| 0.00 | % Chugoku Electric Power Co., Inc./The (MTN) 2017/2022 ................................  | JPY | 510 000 000 |  | 150 000 000 | % | 105.399 | 4 453 097.72 | 0.54 |
| 0.00 | % Nagoya Railroad Co., Ltd (MTN) 2014/2024 ......  | JPY | 350 000 000 |  | 390 000 000 | % | 113 | 3 276 438.70 | 0.40 |
| 0.00 | % SBI Holdings, Inc./Japan (MTN) 2018/2023 ......  | JPY | 560 000 000 | 250 000 000 |  | % | 99.1 | 4 597 452.39 | 0.56 |
| 0.00 | % Sony Corp. (MTN) 2015/2022 .................  | JPY | 234 000 000 |  | 796 000 000 | % | 148.28 | 2 874 435.24 | 0.35 |
| 0.875 | % ams AG (MTN) 2017/2022 ...................  | USD | 8 200 000 | 9 200 000 | 1 000 000 | % | 88.02 | 6 440 048.05 | 0.79 |
| 1.50 | % Bharti Airtel Ltd -Reg- (MTN) 2020/2025.........  | USD | 560 000 | 4 560 000 | 4 000 000 | % | 115.26 | 575 917.07 | 0.07 |
| 1.50 | % Bharti Airtel Ltd -Reg- (MTN) 2020/2025.........  | USD | 6 700 000 | 6 700 000 |  | % | 115.26 | 6 890 436.36 | 0.84 |
| 1.875 | % Brenntag Finance BV (MTN) 2015/2022 .........  | USD | 3 250 000 | 3 250 000 |  | % | 98.664 | 2 861 117.57 | 0.35 |
| 0.00 | % Cerah Capital Ltd (MTN) 2019/2024 ............  | USD | 10 000 000 | 6 000 000 | 3 000 000 | % | 93.617 | 8 353 070.44 | 1.02 |
| 0.00 | % China Railway Construction Corp., Ltd (MTN) 2016/2021 ................................  | USD | 5 000 000 | 6 750 000 | 9 500 000 | % | 98.32 | 4 386 327.85 | 0.54 |
| 0.00 | % China Yangtze Power International BVI 1 Ltd |  |  |  |  |  |  |  |  |
| (MTN) 2016/2021 ..........................  | USD | 3 136 000 | 586 000 |  | % | 101.696 | 2 845 597.59 | 0.35 |
| 0.00  % Cindai Capital Ltd (MTN) 2018/2023 ............  | USD | 5 000 000 | 5 000 000 |  | % | 98.873 | 4 411 021.15 | 0.54 |
| 0.875 % Cree, Inc. (MTN) 2018/2023 ..................  | USD | 3 199 000 | 1 909 000 | 7 000 000 | % | 117.774 | 3 361 684.36 | 0.41 |
| 0.00  % CRRC Corp., Ltd (MTN) 2016/2021.............  | USD | 9 750 000 | 9 750 000 | 5 000 000 | % | 98.255 | 8 547 728.12 | 1.04 |
| 3.25  % ELM BV for Swiss Re Ltd (MTN) 2018/2024 .....  | USD | 3 400 000 | 3 400 000 |  | % | 102.57 | 3 111 664.85 | 0.38 |
| 0.875 % FireEye, Inc. (MTN) 2018/2024 ................  | USD | 2 716 000 | 2 177 000 | 8 914 000 | % | 90.555 | 2 194 490.09 | 0.27 |
| 0.00  % Glencore Funding LLC (MTN) 2018/2025 ........  | USD | 5 400 000 | 2 000 000 | 5 000 000 | % | 84.254 | 4 059 505.51 | 0.50 |
| 0.00  % JPMorgan Chase Bank NA 2019/2022 *.........  | USD | 6 800 000 | 2 500 000 | 1 000 000 | % | 126.078 | 7 649 646.57 | 0.93 |
| 3.375 % Lenovo Group Ltd (MTN) 2019/2024 ...........  | USD | 10 514 000 | 5 244 000 | 1 000 000 | % | 100.036 | 9 384 598.88 | 1.15 |
| 0.25  % MongoDB, Inc. (MTN) 2020/2026 ..............  | USD | 9 151 000 | 9 151 000 |  | % | 125.104 | 10 214 830.75 | 1.25 |
| 2.75  % NRG Energy, Inc. 2018/2048..................  | USD | 7 338 000 | 3 412 000 |  | % | 100.533 | 6 582 301.54 | 0.80 |
| 0.00  % Poseidon Finance 1 Ltd (MTN) 2018/2025 .......  | USD | 13 416 000 | 6 137 000 | 2 000 000 | % | 96.96 | 11 606 655.13 | 1.42 |
| 1.00  % QIAGEN NV (MTN) 2018/2024 ................  | USD | 5 400 000 | 3 400 000 | 12 600 000 | % | 108.846 | 5 244 446.42 | 0.64 |
| 1.125 % Splunk, Inc. (MTN) 2018/2025.................  | USD | 5 915 000 | 1 294 000 | 1 000 000 | % | 146.044 | 7 707 790.33 | 0.94 |
| 0.25  % STMicroelectronics NV (MTN) 2017/2024........  | USD | 6 800 000 |  | 4 800 000 | % | 146.848 | 8 909 838.90 | 1.09 |
| 0.25  % STMicroelectronics NV (MTN) 2017/2024........  | USD | 3 000 000 | 7 000 000 | 4 000 000 | % | 146.848 | 3 930 811.28 | 0.48 |
| 0.00  % Taiwan Cement Corp. (MTN) 2018/2023 ........  | USD | 4 500 000 | 2 000 000 | 1 700 000 | % | 126.325 | 5 072 163.50 | 0.62 |
| 0.00  % Valeo SA (MTN) 2016/2021...................  | USD | 6 400 000 | 6 400 000 |  | % | 97.492 | 5 567 217.01 | 0.68 |
| 0.00  % WuXi AppTec Co., Ltd (MTN) 2019/2024 ........  | USD | 4 200 000 |  |  | % | 142.201 | 5 328 971.10 | 0.65 |
| 0.75  % Yandex NV (MTN) 2020/2025 .................  | USD | 8 600 000 | 8 600 000 |  | % | 107.226 | 8 227 918.49 | 1.00 |
| Securities admitted to or included in organized markets |  |  |  |  |  |  | 429 361 557.05 | 52.42 |
| Interest-bearing securities |  |  |  |  |  |  |  |  |
| 0.125 % Akamai Technologies, Inc. (MTN) 2018/2025	USD | 7 717 000 | 1 828 000 | 2 050 000 | % | 124.238 | 8 554 529.41 | 1.04 |
| 0.375 % Akamai Technologies, Inc. -144A- (MTN) 2019/2027 ................................  | USD | 7 942 000 | 2 142 000 | 3 500 000 | % | 108.81 | 7 710 599.07 | 0.94 |
| 0.50  % Alteryx, Inc. -144A- (MTN) 2019/2024...........  | USD | 2 576 000 | 950 000 | 2 500 000 | % | 112.562 | 2 587 206.02 | 0.32 |
| 4.625 % Ares Capital Corp. (MTN) 2019/2024 ...........  | USD | 10 906 000 |  | 5 000 000 | % | 98.01 | 9 537 292.26 | 1.16 |

| Security name | Count/ units/ currency | Quantity/ principal amount | Purchases/ additions in the | Sales/ disposals reporting period |  | Market price | Total market value in EUR | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 0.00  % Barclays Bank PLC (MTN) 2020/2025 ...........  | USD | 5 000 000 | 5 000 000 |  | % | 118.532 | 5 288 045.81 | 0.65 |
| 0.599 % BioMarin Pharmaceutical Inc (MTN) 2017/2024 ...  | USD | 2 400 000 | 3 449 000 | 5 607 000 | % | 123.166 | 2 637 516.99 | 0.32 |
| 1.25  % BioMarin Pharmaceutical, Inc. (MTN) 2020/2027 ..  | USD | 6 000 000 | 6 000 000 |  | % | 117.604 | 6 295 973.94 | 0.77 |
| 0.125 % Blackline, Inc. (MTN) 2019/2024 ...............  | USD | 3 000 000 | 3 000 000 |  | % | 127.136 | 3 403 137.64 | 0.42 |
| 0.75  % Booking Holdings, Inc. (MTN) 2020/2025 ........  | USD | 5 500 000 | 5 500 000 |  | % | 123.99 | 6 084 747.00 | 0.74 |
| 0.125 % Chegg, Inc. (MTN) 2019/2025 .................  | USD | 7 530 000 | 12 595 000 | 5 065 000 | % | 140.805 | 9 460 312.10 | 1.15 |
| 0.125 % Coupa Software, Inc. (MTN) 2019/2025 .........  | USD | 5 398 000 | 5 398 000 |  | % | 180.902 | 8 712 999.17 | 1.06 |
| 0.00  % CyberArk Software Ltd (MTN) 2019/2024. . . . . . . . | USD | 3 900 000 | 4 900 000 | 1 000 000 | % | 92.39 | 3 214 982.76 | 0.39 |
| 0.25  % DexCom, Inc. (MTN) 2020/2025 ...............  | USD | 7 900 000 | 7 900 000 |  | % | 101.533 | 7 156 912.93 | 0.87 |
| 3.375 % Dish Network Corp. (MTN) 2016/2026 ..........  | USD | 3 963 000 | 11 463 000 | 7 500 000 | % | 90.8 | 3 210 694.28 | 0.39 |
| 2.375 % Envista Holdings Corp. (MTN) 2020/2025 ........  | USD | 3 400 000 | 3 400 000 |  | % | 120.014 | 3 640 830.35 | 0.44 |
| 0.75  % Euronet Worldwide, Inc. 2019/2049 * ..........  | USD | 5 641 000 | 5 641 000 |  | % | 95.934 | 4 828 587.18 | 0.59 |
| 0.375 % Exact Sciences Corp. (MTN) 2019/2027 .........  | USD | 6 057 000 | 2 202 000 | 2 500 000 | % | 103.386 | 5 587 385.43 | 0.68 |
| 0.375 % Exact Sciences Corp. (MTN) 2020/2028 .........  | USD | 7 500 000 | 7 500 000 |  | % | 95.328 | 6 379 268.64 | 0.78 |
| 3.125 % Extra Space Storage LP 2015/2035 ............  | USD | 3 509 000 | 844 000 | 1 000 000 | % | 108.227 | 3 388 522.80 | 0.41 |
| 1.75  % GCI Liberty, Inc. 2018/2046 ..................  | USD | 2 518 000 | 3 518 000 | 1 000 000 | % | 136.762 | 3 072 635.23 | 0.37 |
| 0.00  % GSK Finance No 3 PLC 2020/2023 .............  | USD | 4 500 000 | 4 500 000 |  | % | 107.873 | 4 331 284.34 | 0.53 |
| 3.00  % Huazhu Group Ltd -144A- (MTN) 2020/2026......  | USD | 3 200 000 | 3 200 000 |  | % | 107.781 | 3 077 397.60 | 0.38 |
| 0.875 % IAC Financeco 2, Inc. (MTN) 2019/2026 .........  | USD | 5 967 000 | 2 240 000 | 6 500 000 | % | 121.809 | 6 485 251.75 | 0.79 |
| 0.00 % Illumina, Inc. (MTN) 2018/2023 ................  | USD | 7 200 000 | 7 200 000 |  | % | 107.818 | 6 926 521.59 | 0.85 |
| 1.75  % Insmed, Inc. (MTN) 2018/2025 ................  | USD | 4 000 000 | 4 000 000 |  | % | 97.566 | 3 482 169.57 | 0.43 |
| 0.375 % Insulet Corp. -144A- (MTN) 2019/2026 ..........  0.50 % Integra LifeSciences Holdings Corp. (MTN) 2020/2025 ................................  | USD USD | 7 605 000 5 000 000 | 2 611 000 5 000 000 | 1 000 000 | % % | 107.61 90.881 | 7 302 024.30 4 054 474.05 | 0.89 0.49 |
| 2.00  % Intercept Pharmaceuticals, Inc. (MTN) 2019/2026 . | USD | 4 000 000 | 822 000 | 390 000 | % | 70.894 | 2 530 235.22 | 0.31 |
| 2.00 % iQIYI, Inc. (MTN) 2019/2025 ..................  | USD | 7 175 000 | 7 175 000 |  | % | 100.406 | 6 427 989.50 | 0.78 |
| 1.75  % J2 Global, Inc. (MTN) 2019/2026 ..............  | USD | 3 875 000 | 3 875 000 |  | % | 88.445 | 3 057 992.51 | 0.37 |
| 1.50  % Jazz Investments I Ltd (MTN) 2017/2024 ........  | USD | 4 538 000 |  |  | % | 91.994 | 3 724 886.62 | 0.45 |
| 2.00  % Jazz Investments I Ltd (MTN) 2020/2026 ........  | USD | 5 000 000 | 5 000 000 |  | % | 100.288 | 4 474 148.55 | 0.55 |
| 0.75  % JOYY, Inc. (MTN) 2019/2025 .................  | USD | 7 536 000 | 7 536 000 |  | % | 112.85 | 7 588 148.15 | 0.93 |
| 0.125 % JPMorgan Chase Bank NA 2020/2023 ..........  | USD | 6 000 000 | 6 000 000 |  | % | 106.952 | 5 725 712.72 | 0.70 |
| 1.375 % Liberty Media Corp. (MTN) 2013/2023 ..........  | USD | 10 327 000 | 2 121 000 | 1 000 000 | % | 103.81 | 9 565 482.56 | 1.17 |
| 2.25  % Liberty Media Corp. 2018/2048................  | USD | 4 000 000 | 7 730 000 | 7 901 000 | % | 102.504 | 3 658 408.76 | 0.45 |
| 1.00  % Liberty Media Corp.-Liberty Formula One (MTN) 2017/2023 ................................  | USD | 2 868 000 | 648 000 | 600 000 | % | 110.239 | 2 821 023.29 | 0.34 |
| 2.50  % Live Nation Entertainment, Inc. (MTN) 2018/2023 . | USD | 2 857 000 | 1 001 000 | 2 492 000 | % | 101.618 | 2 590 445.41 | 0.32 |
| 0.50  % Lumentum Holdings, Inc. (MTN) 2019/2026......  | USD | 8 121 000 | 4 121 000 |  | % | 105.504 | 7 644 865.69 | 0.93 |
| 1.625 % Microchip Technology, Inc. (MTN) 2015/2025 ....  | USD | 5 000 000 | 5 000 000 | 8 279 000 | % | 222.246 | 9 915 038.49 | 1.21 |
| 1.625 % Microchip Technology, Inc. (MTN) 2017/2027 ....  | USD | 5 192 000 | 1 555 000 | 3 119 000 | % | 145.746 | 6 751 872.65 | 0.82 |
| 1.25  % Momo, Inc. (MTN) 2018/2025.................  | USD | 3 013 000 | 3 413 000 | 5 000 000 | % | 77.122 | 2 073 345.39 | 0.25 |
| 2.25  % Neurocrine Biosciences, Inc. (MTN) 2017/2024 ...  | USD | 1 508 000 | 413 000 | 700 000 | % | 170.374 | 2 292 423.28 | 0.28 |
| 0.375 % NuVasive, Inc. (MTN) 2020/2025 ..............  | USD | 4 500 000 | 4 500 000 |  | % | 88.155 | 3 539 573.11 | 0.43 |
| 0.125 % Okta, Inc. -144A- (MTN) 2019/2025 ............  | USD | 9 099 000 | 4 088 000 | 3 500 000 | % | 124.6 | 10 115 867.48 | 1.23 |
| 1.625 % ON Semiconductor Corp. (MTN) 2017/2023 ......  | USD | 9 474 000 | 3 529 000 | 1 000 000 | % | 121.734 | 10 290 462.95 | 1.26 |
| 0.75  % Palo Alto Networks, Inc. (MTN) 2018/2023 ......  | USD | 10 398 000 | 1 500 000 | 7 000 000 | % | 107.663 | 9 988 671.13 | 1.22 |
| 0.375 % Palo Alto Networks, Inc. (MTN) 2020/2025 ......  | USD | 8 000 000 | 8 000 000 |  | % | 99.486 | 7 101 390.27 | 0.87 |
| 0.75  % Pegasystems, Inc. (MTN) 2020/2025 ...........  | USD | 3 757 000 | 3 757 000 |  | % | 101.402 | 3 399 218.96 | 0.41 |
| 0.25  % Pioneer Natural Resources Co. (MTN) 2020/2025 . | USD | 8 000 000 | 8 000 000 |  | % | 116.234 | 8 296 875.91 | 1.01 |
| 0.375 % Pluralsight, Inc. (MTN) 2019/2024..............  | USD | 3 832 000 | 6 332 000 | 2 500 000 | % | 88.18 | 3 015 015.03 | 0.37 |
| 0.25 % Proofpoint, Inc. -144A- (MTN) 2019/2024 ........  | USD | 10 911 000 | 4 511 000 | 4 500 000 | % | 97.591 | 9 500 921.90 | 1.16 |
| 0.125 % Pure Storage, Inc. (MTN) 2018/2023 ...........  | USD | 3 860 000 | 910 000 | 1 000 000 | % | 98.97 | 3 408 631.91 | 0.42 |
| 1.50  % Sarepta Therapeutics, Inc. (MTN) 2017/2024 .....  | USD | 2 000 000 | 2 000 000 |  | % | 229.952 | 4 103 539.43 | 0.50 |
| 2.375 % Sea Ltd -144A- (MTN) 2020/2025 ..............  | USD | 5 000 000 | 5 000 000 |  | % | 140.766 | 6 280 015.87 | 0.77 |
| 0.50  % Slack Technologies, Inc. (MTN) 2020/2025.......  | USD | 5 373 000 | 5 373 000 |  | % | 123.938 | 5 941 751.72 | 0.73 |
| 0.75 % Snap, Inc. -144A- (MTN) 2019/2026 ............  | USD | 15 185 000 | 9 131 000 | 2 000 000 | % | 123.762 | 16 768 406.16 | 2.05 |
| 1.25  % Southwest Airlines Co. (MTN) 2020/2025. . . . . . . . | USD | 11 030 000 | 11 030 000 |  | % | 118.91 | 11 702 679.62 | 1.43 |
| 0.50  % Splunk, Inc. (MTN) 2018/2023.................  | USD | 5 044 000 | 2 946 000 | 10 695 000 | % | 143.019 | 6 436 655.11 | 0.79 |
| 0.50  % Square, Inc. (MTN) 2018/2023 ................  | USD | 2 841 000 | 2 067 000 | 8 197 000 | % | 148.068 | 3 753 378.85 | 0.46 |
| 0.125 % Square, Inc. (MTN) 2020/2025 ................  | USD | 13 000 000 | 13 000 000 |  | % | 113.184 | 13 128 700.26 | 1.60 |
| 1.25  % Teladoc Health, Inc. (MTN) 2020/2027 ..........  | USD | 6 674 000 | 6 674 000 |  | % | 111.129 | 6 617 668.87 | 0.81 |
| 0.25  % Twitter, Inc. (MTN) 2018/2024 ................  | USD | 4 188 000 |  | 2 262 000 | % | 94.112 | 3 516 744.30 | 0.43 |
| 1.00  % Viavi Solutions, Inc. (MTN) 2017/2024 ..........  | USD | 2 870 000 | 1 505 000 | 2 500 000 | % | 114.654 | 2 936 043.81 | 0.36 |
| 1.00 % Wayfair, Inc. -144A- (MTN) 2019/2026 ..........  | USD | 6 586 000 |  | 1 914 000 | % | 147.019 | 8 639 462.68 | 1.05 |
| 1.25  % Weibo Corp. (MTN) 2017/2022 ................  | USD | 10 000 000 | 11 000 000 | 1 000 000 | % | 93.416 | 8 335 091.41 | 1.02 |
| 0.00  % Wix.com Ltd (MTN) 2018/2023................  | USD | 2 522 000 | 2 061 000 | 3 816 000 | % | 184.125 | 4 143 327.54 | 0.51 |
| 0.25  % Workday, Inc. (MTN) 2017/2022 ...............  | USD | 6 907 000 | 4 780 000 | 621 000 | % | 137.906 | 8 498 895.07 | 1.04 |
| 0.25  % Zendesk, Inc. (MTN) 2018/2023 ...............  | USD | 3 845 000 | 4 627 000 | 4 180 000 | % | 147.768 | 5 069 552.60 | 0.62 |
| 0.75  % Zillow Group, Inc. (MTN) 2019/2024 ............  | USD | 2 937 000 | 4 106 000 | 1 169 000 | % | 139.25 | 3 649 140.41 | 0.45 |
| 1.375 % Zillow Group, Inc. (MTN) 2019/2026 ............  | USD | 3 620 000 | 6 031 000 | 2 411 000 | % | 143.372 | 4 630 892.20 | 0.57 |
| 0.25 % Zynga, Inc. (MTN) 2019/2024 .................  | USD | 8 020 000 | 8 020 000 |  | % | 129.958 | 9 299 661.49 | 1.14 |
| Unlisted securities |  |  |  |  |  |  | 1 924 945.43 | 0.23 |
| Interest-bearing securities 0.00  % Relo Group, Inc. 2018/2021 ..................  | JPY | 240 000 000 | 240 000 000 |  | % | 96.817 | 1 924 945.43 | 0.23 |
| Total securities portfolio |  |  |  |  |  |  | 782 135 570.59 | 95.49 |

| Count/ Security name	units/ | Quantity/ principal | Purchases/ additions | Sales/ disposals | Market price | Total market value in | % of net assets |
| --- | --- | --- | --- | --- | --- | --- |
|  | currency | amount | in the reporting period | EUR |  |
| Derivatives (Minus signs denote short positions) |  |  |  |  |  |
| Currency derivatives Receivables/payables |  |  |  | 18 017 454.61 | 2.20 |
| Forward currency transactions |  |  |  |  |  |
| Forward currency transactions (long) |  |  |  |  |  |
| Open positions CHF/EUR 18.6 million ...............................  |  |  |  | 83 638.30 | 0.01 |
| SEK/EUR 62.4 million ...............................  |  |  |  | 25 242.41 | 0.00 |
| SGD/EUR 0.1 million ................................  |  |  |  | 97.60 | 0.00 |
| Forward currency transactions (short) |  |  |  |  |  |
| Open positions EUR/AUD 4.4 million ................................  |  |  |  | -69 737.97 | -0.01 |
| EUR/GBP 11.8 million ...............................  |  |  |  | 408 049.47 | 0.05 |
| EUR/HKD 197.2 million ..............................  |  |  |  | 568 646.26 | 0.07 |
| EUR/JPY 1494.3 million..............................  |  |  |  | 490 321.63 | 0.06 |
| EUR/USD 412.6 million ..............................  |  |  |  | 6 998 416.39 | 0.85 |
| Closed positions EUR/AUD 1.6 million ................................  |  |  |  | -25 610.46 | 0.00 |
| EUR/CHF 14.4 million ...............................  |  |  |  | 133 543.87 | 0.02 |
| EUR/GBP 5.7 million ................................  |  |  |  | 202 490.36 | 0.02 |
| EUR/HKD 74.2 million ...............................  |  |  |  | 273 885.01 | 0.03 |
| EUR/JPY 549.3 million...............................  |  |  |  | 168 503.25 | 0.02 |
| EUR/SGD 16.2 million ...............................  |  |  |  | 188 193.52 | 0.02 |
| EUR/USD 343.8 million ..............................  |  |  |  | 8 571 774.97 | 1.06 |
| Cash at bank |  |  |  | 21 988 112.28 | 2.69 |
| Demand deposits at Depositary EUR deposits......................................  | EUR |  |  | 21 067 745.14 | 2.57 |
| Deposits in other EU/EEA currencies |  |  |  |  |  |
| British pound .....................................  | GBP | 189 492 |  | 207 963.13 | 0.03 |
| Swedish krona.....................................  | SEK | 21 187 |  | 2 022.40 | 0.00 |
| Deposits in non-EU/EEA currencies |  |  |  |  |  |
| Australian dollar ....................................         | AUD | 284 142 |  | 174 097.92 | 0.02 |
| Hong Kong dollar ..................................  | HKD | 2 789 687 |  | 321 163.06 | 0.04 |
| Japanese yen .....................................  | JPY | 17 771 780 |  | 147 226.67 | 0.02 |
| Swiss franc .......................................  | CHF | 68 971 |  | 64 775.25 | 0.01 |
| South Korean won..................................  | KRW | 4 204 311 |  | 3 118.71 | 0.00 |
| Other assets |  |  |  | 2 949 932.99 | 0.36 |
| Interest receivable .................................  |  |  |  | 1 636 824.47 | 0.20 |
| Other receivables ..................................  |  |  |  | 1 313 108.52 | 0.16 |
| Receivables from share certificate transactions |  |  |  | 84 737.12 | 0.01 |
| Total assets ** |  |  |  | 825 271 156.02 | 100.76 |
| Short-term liabilities |  |  |  | -1 308 048.87 | -0.16 |
| Loans in non-EU/EEA currencies |  |  |  |  |  |
| Singapore dollar ...................................  | SGD | -94 965 |  | -60 688.74 | -0.01 |
| U.S. dollar ........................................  | USD | -1 397 978 |  | -1 247 360.13 | -0.15 |
| Other liabilities |  |  |  | -2 466 017.80 | -0.30 |
| Liabilities from cost items ............................  |  |  |  | -1 013 864.65 | -0.12 |
| Additional other liabilities.............................  |  |  |  | -1 452 153.15 | -0.18 |
| Liabilities from share certificate transactions |  |  |  | -2 350 741.61 | -0.29 |
| Total liabilities |  |  |  | -6 220 156.71 | -0.76 |
| Net assets |  |  |  | 819 050 999.31 | 100.00 |

Negligible rounding errors may have arisen due to the rounding of calculated percentages.
A list of the transactions completed during the reporting period that no longer appear in the investment portfolio is available free of charge from the Management Company upon request.
| Net asset value per share and number of shares outstanding | Count/ currency | Net asset value per share in the respective currency |
| --- | --- | --- |
| Net asset value per share Class CHF FCH ....................................  | CHF | 140.91 |
| Class CHF LCH ....................................  | CHF | 108.83 |
| Class FC .........................................  | EUR | 197.96 |
| Class FC (CE)......................................  | EUR | 163.05 |
| Class FD .........................................  | EUR | 116.15 |
| Class LC .........................................  | EUR | 179.78 |
| Class LC (CE)......................................  | EUR | 132.14 |
| Class LD .........................................  | EUR | 169.56 |
| Class NC .........................................  | EUR | 167.93 |
| Class PFC ........................................  | EUR | 108.18 |
| Class RC (CE) .....................................  | EUR | 118.38 |
| Class TFC ........................................  | EUR | 104.96 |
| Class TFD ........................................  | EUR | 103.86 |
| Class GBP DH RD ..................................  | GBP | 182.57 |
| Class SEK FCH ....................................  | SEK | 1 103.71 |
| Class SEK LCH ....................................  | SEK | 1 076.61 |
| Class USD FCH ....................................  | USD | 205.14 |
| Class USD LCH ....................................  | USD | 191.82 |
| Class USD TFCH ...................................  | USD | 112.37 |
| Number of shares outstanding Class CHF FCH ....................................  | Count | 204 275.818 |
| Class CHF LCH ....................................  | Count | 796.760 |
| Class FC .........................................  | Count | 1 876 983.529 |
| Class FC(CE) ......................................  | Count | 802 707.888 |
| Class FD .........................................  | Count | 75 297.000 |
| Class LC .........................................  | Count | 421 995.698 |
| Class LC (CE)......................................  | Count | 5 592.000 |
| Class LD .........................................  | Count | 155 718.724 |
| Class NC .........................................  | Count | 174 407.296 |
| Class PFC ........................................  | Count | 14 081.000 |
| Class RC (CE) .....................................  | Count | 676 368.000 |
| Class TFC ........................................  | Count | 23 430.831 |
| Class TFD ........................................  | Count | 12 163.000 |
| Class GBP DH RD ..................................  | Count | 5 750.795 |
| Class SEK FCH ....................................  | Count | 1 151.000 |
| Class SEK LCH ....................................  | Count | 57 244.000 |
| Class USD FCH ....................................  | Count | 210 186.055 |
| Class USD LCH ....................................  | Count | 100 841.643 |
| Class USD TFCH ...................................  | Count | 2 347.000 |

Composition of the reference portfolio (according to CSSF circular 11/512)
25% Citi – EuroBIG Corporate Index-A sector, 25% Citi – WorldBIG Corporate A in EUR, 25% MSCI THE WORLD INDEX in EUR, 25% STOXX 50
Market risk exposure (value-at-risk) (according to CSSF circular 11/512)
| Lowest market risk exposure .........................  | % | 18.495 |
| --- | --- | --- |
| Highest market risk exposure .........................  | % | 69.273 |
| Average market risk exposure ........................  | % | 42.892 |

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 1.5, 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 1 228 969 511.49 as of the reporting date. Does not include any forward currency transactions entered into for currency hedging purposes at the level of the share classes.
 Market abbreviations	 Contracting parties for forward currency transactions
Barclays Bank Ireland PLC, BNP Paribas SA, Bofa Securities Europe, Citigroup Global Markets Limited, Deutsche Bank AG, Goldman Sachs International, HSBC France, JP Morgan, Morgan Stanley Europe, Royal Bank of Canada (UK), State Street Bank London, Toronto Dominion Bank and UBS AG
| Securities lending |  |
| --- | --- |
| The following securities were transferred under securities loans at the reporting date: |  |  |  |
| Security name	Currency/ quantity/ principal amount | Quantity/ principal amount | Securities loans Total market value in EUR No fixed maturity | Total |
| 0.01  % GN Store Nord A/S (MTN) 2019/2024	EUR | 700 000 | 705 250.00 |  |
| 0.75  % Euronet Worldwide, Inc. 2019/2049	USD | 1 000 000 | 855 980.71 |  |
| 0	% JPMorgan Chase Bank NA 2019/2022	USD | 400 000 | 449 979.21 |  |
| 0	% Geely Sweden Financials Holding AB (MTN) 2019/2024	EUR | 700 000 | 708 540.00 |  |
| Total receivables from securities loans |  | 2 719 749.92 | 2 719 749.92 |
| Contracting parties for securities loans J.P. Morgan Sec Ltd., Morgan Stanley Europe SE EQ, UBS AG London Branch |  |  |  |
| Total collateral pledged by third parties for securities loans thereof: Bonds |  | EUR EUR | 2 834 599.45 113 571.30 |
| Equities |  | EUR | 2 721 028.15 |
| Exchange rates (indirect quotes) |  |  |  |
| As of June 30, 2020 |  |  |  |

| Australian dollar	AUD | 1.632080 | = EUR | 1 |
| --- | --- | --- | --- |
| Swiss franc	CHF | 1.064768 | = EUR | 1 |
| British pound	GBP | 0.911178 | = EUR | 1 |
| Hong Kong dollar	HKD | 8.686201 | = EUR | 1 |
| Japanese yen	JPY | 120.710331 | = EUR | 1 |
| South Korean won	KRW | 1 348.093605 | = EUR | 1 |
| Swedish krona	SEK | 10.476263 | = EUR | 1 |
| Singapore dollar	SGD | 1.564791 | = 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.
Footnotes
* Some or all of these securities are lent.
** Does not include positions with a negative balance, if such exist.

Translation (ENDE, 2020-06-30):
# DWS Invest Convertibles
DWS INVEST CONVERTIBLES

### Wertentwicklung der Anteilklassen (in EUR)
| Anteilklasse | ISIN | 6 Monate |
| --- | --- | --- |
| Klasse LC | LU0179219752 | 4,0% |
| Klasse FC | LU0179220412 | 4,3% |
| Klasse FC (CE) | LU0740833669 | 4,9% |
| Klasse FD | LU0616868518 | 4,3% |
| Klasse LC (CE) | LU0740833404 | 4,6% |
| Klasse LD | LU0179219919 | 4,0% |
| Klasse NC | LU0179220255 | 3,8% |
| Klasse PFC | LU1054326076 | 4,0% |
| Klasse RC (CE) | LU1483365398 | 4,9% |
| Klasse TFC | LU1663841507 | 4,3% |
| Klasse TFD | LU1663843032 | 4,3% |
| Klasse CHF FCH 1) | LU0616868195 | 4,0% |
| Klasse CHF LCH 1) | LU0616867890 | 3,7% |
| Klasse GBP DH RD 2) | LU0399358133 | 4,3% |
| Klasse SEK FCH 3) | LU1282658647 | 4,2% |
| Klasse SEK LCH 3) | LU1282658720 | 3,9% |
| Klasse USD FCH 4) | LU0273179522 | 5,3% |
| Klasse USD LCH 4) | LU0273170141 | 5,1% |
| Klasse USD TFCH 4) | LU1663844279 | 5,3% |

1) 
in CHF
2) 
in GBP
3) 
in SEK
4) 
in USD
Wertentwicklung nach BVI-Methode, d. h. ohne Berücksichtigung des Ausgabeaufschlages.
Wertentwicklungen der Vergangenheit ermöglichen keine Prognose für die Zukunft.	Stand: 30.6.2020
DWS Invest Convertibles
| Vermögensübersicht zum 30.6.2020 |  |
| --- | --- |
|  | Bestand in EUR | %-Anteil am Fondsvermögen |
| I. Vermögensgegenstände |  |  |
| 1. Anleihen (Emittenten) Unternehmen | 3 210 694,28 | 0,39 |
| Institute | 778 924 876,31 | 95,10 |
| Summe Anleihen | 782 135 570,59 | 95,49 |
| 2. Derivate | 18 017 454,61 | 2,20 |
| 3. Bankguthaben | 21 988 112,28 | 2,69 |
| 4. Sonstige Vermögensgegenstände | 2 949 932,99 | 0,36 |
| 5. Forderungen aus Anteilscheingeschäften | 84 737,12 | 0,01 |
| II. Verbindlichkeiten |  |  |
| 1. Verbindlichkeiten aus Kreditaufnahme | -1 308 048,87 | - 0,16 |
| 2. Sonstige Verbindlichkeiten | -2 466 017,80 | - 0,30 |
| 3. Verbindlichkeiten aus Anteilscheingeschäften | -2 350 741,61 | - 0,29 |
|  |  |  |
| III. Fondsvermögen | 819 050 999,31 | 100,00 |
| Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein. |  |  |

| Vermögensaufstellung zum 31.12.2019 |  |
| --- | --- |
|  | Stück bzw. | Nominalbetrag | Käufe/ | Verkäufe/ | Kurs | Kurswert | %-Anteil am |
| Wertpapierbezeichnung | Anteile bzw. | bzw. | Zugänge | Abgänge |  | in | Fonds- |
| Währung	Bestand	im Berichtszeitraum	EUR	vermögen |

Börsengehandelte Wertpapiere	350 849 068,11	42,84
Verzinsliche Wertpapiere
| 2,30 | % DEXUS Finance Pty Ltd (MTN) 2019/2026 .....  | AUD | 6 100 000 | 2 700 000 |  | % | 96,478 | 3 605 905,53 | 0,44 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 0,15 | % Sika AG (MTN) 2018/2025 ..................  | CHF | 11 640 000 | 5 340 000 | 3 860 000 | % | 117,637 | 12 860 027,06 | 1,57 |
| 1,25 | % ADO Properties SA (MTN) 2018/2023 .........  | EUR | 5 100 000 | 4 100 000 | 3 200 000 | % | 92,565 | 4 720 815,00 | 0,58 |
| 1,50 | % Amadeus IT Group SA (MTN) 2020/2025 ......  | EUR | 3 000 000 | 3 000 000 |  | % | 121,326 | 3 639 780,00 | 0,44 |
| 0,00 | % ANLLIAN Capital Ltd (MTN) 2020/2025 ........  | EUR | 8 000 000 | 8 000 000 |  | % | 93,122 | 7 449 760,00 | 0,91 |
| 0,00 | % Atos SE (MTN) 2019/2024 ..................  | EUR | 3 100 000 | 800 000 | 1 300 000 | % | 131,388 | 4 073 012,50 | 0,50 |
| 0,50 | % Cellnex Telecom SA (MTN) 2019/2028 ........  | EUR | 8 900 000 | 4 200 000 | 2 000 000 | % | 129,199 | 11 498 711,00 | 1,40 |
| 1,00 | % Corp Economica Delta SA (MTN) 2016/2023 ...  | EUR | 7 500 000 | 2 500 000 |  | % | 97,5 | 7 312 500,00 | 0,89 |
| 2,50 | % Cromwell SPV Finance Pty Ltd (MTN) 2018/2025 | EUR | 6 000 000 | 6 000 000 |  | % | 97,032 | 5 821 920,00 | 0,71 |
| 1,00 | % Delivery Hero SE (MTN) 2020/2027 ...........  | EUR | 11 400 000 | 11 400 000 |  | % | 117,992 | 13 451 031,00 | 1,64 |
| 0,05 | % Deutsche Post AG (MTN) 2017/2025 .........  | EUR | 5 800 000 | 5 800 000 |  | % | 98,64 | 5 721 120,00 | 0,70 |
| 0,60 | % Deutsche Wohnen SE (MTN) 2017/2026 ......  | EUR | 8 800 000 | 3 800 000 |  | % | 107,49 | 9 459 120,00 | 1,16 |
| 0,00 | % Eliott Capital Sarl 2019/2022 ................  | EUR | 5 000 000 | 5 000 000 |  | % | 96,302 | 4 815 100,00 | 0,59 |
| 0,00 | % Geely Sweden Financials Holding AB (MTN) |  |  |  |  |  |  |  |  |
|  | 2019/2024 * .............................  | EUR | 8 600 000 | 4 800 000 | 4 200 000 | % | 101,22 | 8 704 920,00 | 1,06 |
| 0,00 | % GN Store Nord A/S (MTN) 2019/2024 * .......  | EUR | 4 200 000 | 4 200 000 |  | % | 100,75 | 4 231 500,00 | 0,52 |
| 0,00 | % Iberdrola International BV (MTN) 2015/2022 ....  | EUR | 2 100 000 |  | 1 000 000 | % | 127,138 | 2 669 908,50 | 0,33 |
| 0,625 | % International Consolidated Airlines Group SA |  |  |  |  |  |  |  |  |
|  | (MTN) 2015/2022 .........................  | EUR | 9 500 000 |  | 6 000 000 | % | 81,054 | 7 700 130,00 | 0,94 |
| 0,00 | % LG Chem Ltd 2018/2021 ...................  | EUR | 4 000 000 | 6 000 000 | 5 000 000 | % | 102,474 | 4 098 980,00 | 0,50 |
| 0,00 | % Morgan Stanley Finance LLC (MTN) 2018/2021 . | EUR | 7 000 000 | 4 000 000 | 2 000 000 | % | 98,4 | 6 888 000,00 | 0,84 |
| 0,238 | % Symrise AG (MTN) 2017/2024 ...............  | EUR | 2 700 000 | 600 000 | 600 000 | % | 125,85 | 3 397 950,00 | 0,41 |
| 1,50 | % Derwent London Capital No. 3 Jersey Ltd (MTN) |  |  |  |  |  |  |  |  |
|  | 2019/2025 ..............................  | GBP | 6 000 000 | 6 000 000 |  | % | 94,792 | 6 241 939,31 | 0,76 |
| 0,90 | % National Grid North America, Inc. (MTN) |  |  |  |  |  |  |  |  |
|  | 2015/2020 ..............................  | GBP | 1 500 000 | 1 500 000 |  | % | 99,87 | 1 644 071,65 | 0,20 |
| 0,875 | % Ocado Group PLC (MTN) 2019/2025 ..........  | GBP | 4 000 000 | 4 000 000 |  | % | 131,766 | 5 784 421,86 | 0,71 |
| 0,00 | % Vodafone Group PLC (MTN) 2015/2020 .......  | GBP | 5 000 000 | 5 000 000 |  | % | 99,407 | 5 454 859,60 | 0,67 |
| 0,00 | % China Conch Venture Holdings International Ltd |  |  |  |  |  |  |  |  |
|  | (MTN) 2018/2023 .........................  | HKD | 36 000 000 | 23 000 000 | 15 000 000 | % | 107,618 | 4 460 253,51 | 0,54 |
| 2,00 | % China Education Group Holdings Ltd (MTN) |  |  |  |  |  |  |  |  |
|  | 2019/2024 ..............................  | HKD | 61 000 000 | 61 000 000 |  | % | 107,356 | 7 539 217,38 | 0,92 |
| 0,00 | % Harvest International Co. (MTN) 2017/2022 ....  | HKD | 86 000 000 | 20 000 000 | 20 000 000 | % | 102,794 | 10 177 338,36 | 1,24 |
| 4,50 | % Smart Insight International Ltd (MTN) 2018/2023 | HKD | 68 000 000 |  | 26 000 000 | % | 111,893 | 8 759 552,89 | 1,07 |
| 0,00 | % Chugoku Electric Power Co., Inc./The (MTN) |  |  |  |  |  |  |  |  |
|  | 2017/2022 ..............................  | JPY | 510 000 000 |  | 150 000 000 | % | 105,399 | 4 453 097,72 | 0,54 |
| 0,00 | % Nagoya Railroad Co., Ltd (MTN) 2014/2024 ....  | JPY | 350 000 000 |  | 390 000 000 | % | 113 | 3 276 438,70 | 0,40 |
| 0,00 | % SBI Holdings, Inc./Japan (MTN) 2018/2023 .....  | JPY | 560 000 000 | 250 000 000 |  | % | 99,1 | 4 597 452,39 | 0,56 |
| 0,00 | % Sony Corp. (MTN) 2015/2022 ...............  | JPY | 234 000 000 |  | 796 000 000 | % | 148,28 | 2 874 435,24 | 0,35 |
| 0,875 | % ams AG (MTN) 2017/2022 ..................  | USD | 8 200 000 | 9 200 000 | 1 000 000 | % | 88,02 | 6 440 048,05 | 0,79 |
| 1,50 | % Bharti Airtel Ltd -Reg- (MTN) 2020/2025 .......  | USD | 560 000 | 4 560 000 | 4 000 000 | % | 115,26 | 575 917,07 | 0,07 |
| 1,50 | % Bharti Airtel Ltd -Reg- (MTN) 2020/2025 .......  | USD | 6 700 000 | 6 700 000 |  | % | 115,26 | 6 890 436,36 | 0,84 |
| 1,875 | % Brenntag Finance BV (MTN) 2015/2022 .......  | USD | 3 250 000 | 3 250 000 |  | % | 98,664 | 2 861 117,57 | 0,35 |
| 0,00 | % Cerah Capital Ltd (MTN) 2019/2024 ..........  | USD | 10 000 000 | 6 000 000 | 3 000 000 | % | 93,617 | 8 353 070,44 | 1,02 |
| 0,00 | % China Railway Construction Corp., Ltd (MTN) |  |  |  |  |  |  |  |  |
|  | 2016/2021 ..............................  | USD | 5 000 000 | 6 750 000 | 9 500 000 | % | 98,32 | 4 386 327,85 | 0,54 |
| 0,00 | % China Yangtze Power International BVI 1 Ltd |  |  |  |  |  |  |  |  |
|  | (MTN) 2016/2021 .........................  | USD | 3 136 000 | 586 000 |  | % | 101,696 | 2 845 597,59 | 0,35 |
| 0,00 | % Cindai Capital Ltd (MTN) 2018/2023 ..........  | USD | 5 000 000 | 5 000 000 |  | % | 98,873 | 4 411 021,15 | 0,54 |
| 0,875 | % Cree, Inc. (MTN) 2018/2023 ................  | USD | 3 199 000 | 1 909 000 | 7 000 000 | % | 117,774 | 3 361 684,36 | 0,41 |
| 0,00 | % CRRC Corp., Ltd (MTN) 2016/2021 ...........  | USD | 9 750 000 | 9 750 000 | 5 000 000 | % | 98,255 | 8 547 728,12 | 1,04 |
| 3,25 | % ELM BV for Swiss Re Ltd (MTN) 2018/2024 ....  | USD | 3 400 000 | 3 400 000 |  | % | 102,57 | 3 111 664,85 | 0,38 |
| 0,875 | % FireEye, Inc. (MTN) 2018/2024 ..............  | USD | 2 716 000 | 2 177 000 | 8 914 000 | % | 90,555 | 2 194 490,09 | 0,27 |
| 0,00 | % Glencore Funding LLC (MTN) 2018/2025 ......  | USD | 5 400 000 | 2 000 000 | 5 000 000 | % | 84,254 | 4 059 505,51 | 0,50 |
| 0,00 | % JPMorgan Chase Bank NA 2019/2022 * .......  | USD | 6 800 000 | 2 500 000 | 1 000 000 | % | 126,078 | 7 649 646,57 | 0,93 |
| 3,375 | % Lenovo Group Ltd (MTN) 2019/2024 ..........  | USD | 10 514 000 | 5 244 000 | 1 000 000 | % | 100,036 | 9 384 598,88 | 1,15 |
| 0,25 | % MongoDB, Inc. (MTN) 2020/2026 ............  | USD | 9 151 000 | 9 151 000 |  | % | 125,104 | 10 214 830,75 | 1,25 |
| 2,75 | % NRG Energy, Inc. 2018/2048 ................  | USD | 7 338 000 | 3 412 000 |  | % | 100,533 | 6 582 301,54 | 0,80 |
| 0,00 | % Poseidon Finance 1 Ltd (MTN) 2018/2025 .....  | USD | 13 416 000 | 6 137 000 | 2 000 000 | % | 96,96 | 11 606 655,13 | 1,42 |
| 1,00 | % QIAGEN NV (MTN) 2018/2024 ..............  | USD | 5 400 000 | 3 400 000 | 12 600 000 | % | 108,846 | 5 244 446,42 | 0,64 |
| 1,125 | % Splunk, Inc. (MTN) 2018/2025 ...............  | USD | 5 915 000 | 1 294 000 | 1 000 000 | % | 146,044 | 7 707 790,33 | 0,94 |
| 0,25 | % STMicroelectronics NV (MTN) 2017/2024 ......  | USD | 6 800 000 |  | 4 800 000 | % | 146,848 | 8 909 838,90 | 1,09 |
| 0,25 | % STMicroelectronics NV (MTN) 2017/2024 ......  | USD | 3 000 000 | 7 000 000 | 4 000 000 | % | 146,848 | 3 930 811,28 | 0,48 |
| 0,00 | % Taiwan Cement Corp. (MTN) 2018/2023 .......  | USD | 4 500 000 | 2 000 000 | 1 700 000 | % | 126,325 | 5 072 163,50 | 0,62 |
| 0,00 | % Valeo SA (MTN) 2016/2021 .................  | USD | 6 400 000 | 6 400 000 |  | % | 97,492 | 5 567 217,01 | 0,68 |
| 0,00 | % WuXi AppTec Co., Ltd (MTN) 2019/2024 ......  | USD | 4 200 000 |  |  | % | 142,201 | 5 328 971,10 | 0,65 |
| 0,75 | % Yandex NV (MTN) 2020/2025 ...............  | USD | 8 600 000 | 8 600 000 |  | % | 107,226 | 8 227 918,49 | 1,00 |

An organisierten Märkten zugelassene oder in diese einbezogene Wertpapiere	429 361 557,05	52,42
| Verzinsliche Wertpapiere |  |
| --- | --- |
| 0,125  % Akamai Technologies, Inc. (MTN) 2018/2025 ...	USD | 7 717 000 | 1 828 000 | 2 050 000 | % | 124,238 | 8 554 529,41 | 1,04 |
| 0,375  % Akamai Technologies, Inc. -144A- (MTN) |  |  |  |  |  |  |  |
| 2019/2027	USD | 7 942 000 | 2 142 000 | 3 500 000 | % | 108,81 | 7 710 599,07 | 0,94 |
| 0,50	% Alteryx, Inc. -144A- (MTN) 2019/2024	USD | 2 576 000 | 950 000 | 2 500 000 | % | 112,562 | 2 587 206,02 | 0,32 |
| 4,625  % Ares Capital Corp. (MTN) 2019/2024	USD | 10 906 000 |  | 5 000 000 | % | 98,01 | 9 537 292,26 | 1,16 |

| Wertpapierbezeichnung | Stück bzw. Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Währung	Bestand	im Berichtszeitraum	EUR	vermögen |
| 0,00 | % Barclays Bank PLC (MTN) 2020/2025 .........  | USD | 5 000 000 | 5 000 000 |  | % | 118,532 | 5 288 045,81 | 0,65 |
| 0,599 | % BioMarin Pharmaceutical Inc (MTN) 2017/2024 . | USD | 2 400 000 | 3 449 000 | 5 607 000 | % | 123,166 | 2 637 516,99 | 0,32 |
| 1,25 | % BioMarin Pharmaceutical, Inc. (MTN) 2020/2027 | USD | 6 000 000 | 6 000 000 |  | % | 117,604 | 6 295 973,94 | 0,77 |
| 0,125 | % Blackline, Inc. (MTN) 2019/2024 .............  | USD | 3 000 000 | 3 000 000 |  | % | 127,136 | 3 403 137,64 | 0,42 |
| 0,75 | % Booking Holdings, Inc. (MTN) 2020/2025 ......  | USD | 5 500 000 | 5 500 000 |  | % | 123,99 | 6 084 747,00 | 0,74 |
| 0,125 | % Chegg, Inc. (MTN) 2019/2025 ...............  | USD | 7 530 000 | 12 595 000 | 5 065 000 | % | 140,805 | 9 460 312,10 | 1,15 |
| 0,125 | % Coupa Software, Inc. (MTN) 2019/2025 .......  | USD | 5 398 000 | 5 398 000 |  | % | 180,902 | 8 712 999,17 | 1,06 |
| 0,00 | % CyberArk Software Ltd (MTN) 2019/2024 ......  | USD | 3 900 000 | 4 900 000 | 1 000 000 | % | 92,39 | 3 214 982,76 | 0,39 |
| 0,25 | % DexCom, Inc. (MTN) 2020/2025 .............  | USD | 7 900 000 | 7 900 000 |  | % | 101,533 | 7 156 912,93 | 0,87 |
| 3,375 | % Dish Network Corp. (MTN) 2016/2026 ........  | USD | 3 963 000 | 11 463 000 | 7 500 000 | % | 90,8 | 3 210 694,28 | 0,39 |
| 2,375 | % Envista Holdings Corp. (MTN) 2020/2025 ......  | USD | 3 400 000 | 3 400 000 |  | % | 120,014 | 3 640 830,35 | 0,44 |
| 0,75 | % Euronet Worldwide, Inc. 2019/2049 * .........  | USD | 5 641 000 | 5 641 000 |  | % | 95,934 | 4 828 587,18 | 0,59 |
| 0,375 | % Exact Sciences Corp. (MTN) 2019/2027 .......  | USD | 6 057 000 | 2 202 000 | 2 500 000 | % | 103,386 | 5 587 385,43 | 0,68 |
| 0,375 | % Exact Sciences Corp. (MTN) 2020/2028 .......  | USD | 7 500 000 | 7 500 000 |  | % | 95,328 | 6 379 268,64 | 0,78 |
| 3,125 | % Extra Space Storage LP 2015/2035 ...........  | USD | 3 509 000 | 844 000 | 1 000 000 | % | 108,227 | 3 388 522,80 | 0,41 |
| 1,75 | % GCI Liberty, Inc. 2018/2046 .................  | USD | 2 518 000 | 3 518 000 | 1 000 000 | % | 136,762 | 3 072 635,23 | 0,37 |
| 0,00 | % GSK Finance No 3 PLC 2020/2023 ...........  | USD | 4 500 000 | 4 500 000 |  | % | 107,873 | 4 331 284,34 | 0,53 |
| 3,00 | % Huazhu Group Ltd -144A- (MTN) 2020/2026 ....  | USD | 3 200 000 | 3 200 000 |  | % | 107,781 | 3 077 397,60 | 0,38 |
| 0,875 | % IAC Financeco 2, Inc. (MTN) 2019/2026 .......  | USD | 5 967 000 | 2 240 000 | 6 500 000 | % | 121,809 | 6 485 251,75 | 0,79 |
| 0,00 | % Illumina, Inc. (MTN) 2018/2023 ..............  | USD | 7 200 000 | 7 200 000 |  | % | 107,818 | 6 926 521,59 | 0,85 |
| 1,75 | % Insmed, Inc. (MTN) 2018/2025 ..............  | USD | 4 000 000 | 4 000 000 |  | % | 97,566 | 3 482 169,57 | 0,43 |
| 0,375 | % Insulet Corp. -144A- (MTN) 2019/2026 ........  | USD | 7 605 000 | 2 611 000 | 1 000 000 | % | 107,61 | 7 302 024,30 | 0,89 |
| 0,50 | % Integra LifeSciences Holdings Corp. (MTN) 2020/2025 ..............................  | USD | 5 000 000 | 5 000 000 |  | % | 90,881 | 4 054 474,05 | 0,49 |
| 2,00 | % Intercept Pharmaceuticals, Inc. (MTN) 2019/2026 | USD | 4 000 000 | 822 000 | 390 000 | % | 70,894 | 2 530 235,22 | 0,31 |
| 2,00 | % iQIYI, Inc. (MTN) 2019/2025 ................  | USD | 7 175 000 | 7 175 000 |  | % | 100,406 | 6 427 989,50 | 0,78 |
| 1,75 | % J2 Global, Inc. (MTN) 2019/2026 .............  | USD | 3 875 000 | 3 875 000 |  | % | 88,445 | 3 057 992,51 | 0,37 |
| 1,50 | % Jazz Investments I Ltd (MTN) 2017/2024 ......  | USD | 4 538 000 |  |  | % | 91,994 | 3 724 886,62 | 0,45 |
| 2,00 | % Jazz Investments I Ltd (MTN) 2020/2026 ......  | USD | 5 000 000 | 5 000 000 |  | % | 100,288 | 4 474 148,55 | 0,55 |
| 0,75 | % JOYY, Inc. (MTN) 2019/2025 ................  | USD | 7 536 000 | 7 536 000 |  | % | 112,85 | 7 588 148,15 | 0,93 |
| 0,125 | % JPMorgan Chase Bank NA 2020/2023 ........  | USD | 6 000 000 | 6 000 000 |  | % | 106,952 | 5 725 712,72 | 0,70 |
| 1,375 | % Liberty Media Corp. (MTN) 2013/2023 ........  | USD | 10 327 000 | 2 121 000 | 1 000 000 | % | 103,81 | 9 565 482,56 | 1,17 |
| 2,25 | % Liberty Media Corp. 2018/2048 ..............  | USD | 4 000 000 | 7 730 000 | 7 901 000 | % | 102,504 | 3 658 408,76 | 0,45 |
| 1,00 | % Liberty Media Corp.-Liberty Formula One (MTN) 2017/2023 ..............................  | USD | 2 868 000 | 648 000 | 600 000 | % | 110,239 | 2 821 023,29 | 0,34 |
| 2,50 | % Live Nation Entertainment, Inc. (MTN) 2018/2023 | USD | 2 857 000 | 1 001 000 | 2 492 000 | % | 101,618 | 2 590 445,41 | 0,32 |
| 0,50 | % Lumentum Holdings, Inc. (MTN) 2019/2026 ....  | USD | 8 121 000 | 4 121 000 |  | % | 105,504 | 7 644 865,69 | 0,93 |
| 1,625 | % Microchip Technology, Inc. (MTN) 2015/2025 ...  | USD | 5 000 000 | 5 000 000 | 8 279 000 | % | 222,246 | 9 915 038,49 | 1,21 |
| 1,625 | % Microchip Technology, Inc. (MTN) 2017/2027 ...  | USD | 5 192 000 | 1 555 000 | 3 119 000 | % | 145,746 | 6 751 872,65 | 0,82 |
| 1,25 | % Momo, Inc. (MTN) 2018/2025 ...............  | USD | 3 013 000 | 3 413 000 | 5 000 000 | % | 77,122 | 2 073 345,39 | 0,25 |
| 2,25 | % Neurocrine Biosciences, Inc. (MTN) 2017/2024 . | USD | 1 508 000 | 413 000 | 700 000 | % | 170,374 | 2 292 423,28 | 0,28 |
| 0,375 | % NuVasive, Inc. (MTN) 2020/2025 .............  | USD | 4 500 000 | 4 500 000 |  | % | 88,155 | 3 539 573,11 | 0,43 |
| 0,125 | % Okta, Inc. -144A- (MTN) 2019/2025 ...........  | USD | 9 099 000 | 4 088 000 | 3 500 000 | % | 124,6 | 10 115 867,48 | 1,23 |
| 1,625 | % ON Semiconductor Corp. (MTN) 2017/2023 ....  | USD | 9 474 000 | 3 529 000 | 1 000 000 | % | 121,734 | 10 290 462,95 | 1,26 |
| 0,75 | % Palo Alto Networks, Inc. (MTN) 2018/2023 .....  | USD | 10 398 000 | 1 500 000 | 7 000 000 | % | 107,663 | 9 988 671,13 | 1,22 |
| 0,375 | % Palo Alto Networks, Inc. (MTN) 2020/2025 .....  | USD | 8 000 000 | 8 000 000 |  | % | 99,486 | 7 101 390,27 | 0,87 |
| 0,75 | % Pegasystems, Inc. (MTN) 2020/2025 .........  | USD | 3 757 000 | 3 757 000 |  | % | 101,402 | 3 399 218,96 | 0,41 |
| 0,25 | % Pioneer Natural Resources Co. (MTN) 2020/2025 | USD | 8 000 000 | 8 000 000 |  | % | 116,234 | 8 296 875,91 | 1,01 |
| 0,375 | % Pluralsight, Inc. (MTN) 2019/2024 ............  | USD | 3 832 000 | 6 332 000 | 2 500 000 | % | 88,18 | 3 015 015,03 | 0,37 |
| 0,25 | % Proofpoint, Inc. -144A- (MTN) 2019/2024 ......  | USD | 10 911 000 | 4 511 000 | 4 500 000 | % | 97,591 | 9 500 921,90 | 1,16 |
| 0,125 | % Pure Storage, Inc. (MTN) 2018/2023 ..........  | USD | 3 860 000 | 910 000 | 1 000 000 | % | 98,97 | 3 408 631,91 | 0,42 |
| 1,50 | % Sarepta Therapeutics, Inc. (MTN) 2017/2024 ...  | USD | 2 000 000 | 2 000 000 |  | % | 229,952 | 4 103 539,43 | 0,50 |
| 2,375 | % Sea Ltd -144A- (MTN) 2020/2025 ............  | USD | 5 000 000 | 5 000 000 |  | % | 140,766 | 6 280 015,87 | 0,77 |
| 0,50 | % Slack Technologies, Inc. (MTN) 2020/2025 .....  | USD | 5 373 000 | 5 373 000 |  | % | 123,938 | 5 941 751,72 | 0,73 |
| 0,75 | % Snap, Inc. -144A- (MTN) 2019/2026 ...........  | USD | 15 185 000 | 9 131 000 | 2 000 000 | % | 123,762 | 16 768 406,16 | 2,05 |
| 1,25 | % Southwest Airlines Co. (MTN) 2020/2025 ......  | USD | 11 030 000 | 11 030 000 |  | % | 118,91 | 11 702 679,62 | 1,43 |
| 0,50 | % Splunk, Inc. (MTN) 2018/2023 ...............  | USD | 5 044 000 | 2 946 000 | 10 695 000 | % | 143,019 | 6 436 655,11 | 0,79 |
| 0,50 | % Square, Inc. (MTN) 2018/2023 ...............  | USD | 2 841 000 | 2 067 000 | 8 197 000 | % | 148,068 | 3 753 378,85 | 0,46 |
| 0,125 | % Square, Inc. (MTN) 2020/2025 ...............  | USD | 13 000 000 | 13 000 000 |  | % | 113,184 | 13 128 700,26 | 1,60 |
| 1,25 | % Teladoc Health, Inc. (MTN) 2020/2027 ........  | USD | 6 674 000 | 6 674 000 |  | % | 111,129 | 6 617 668,87 | 0,81 |
| 0,25 | % Twitter, Inc. (MTN) 2018/2024 ...............  | USD | 4 188 000 |  | 2 262 000 | % | 94,112 | 3 516 744,30 | 0,43 |
| 1,00 | % Viavi Solutions, Inc. (MTN) 2017/2024 .........  | USD | 2 870 000 | 1 505 000 | 2 500 000 | % | 114,654 | 2 936 043,81 | 0,36 |
| 1,00 | % Wayfair, Inc. -144A- (MTN) 2019/2026 ........  | USD | 6 586 000 |  | 1 914 000 | % | 147,019 | 8 639 462,68 | 1,05 |
| 1,25 | % Weibo Corp. (MTN) 2017/2022 ..............  | USD | 10 000 000 | 11 000 000 | 1 000 000 | % | 93,416 | 8 335 091,41 | 1,02 |
| 0,00 | % Wix.com Ltd (MTN) 2018/2023 ..............  | USD | 2 522 000 | 2 061 000 | 3 816 000 | % | 184,125 | 4 143 327,54 | 0,51 |
| 0,25 | % Workday, Inc. (MTN) 2017/2022 .............  | USD | 6 907 000 | 4 780 000 | 621 000 | % | 137,906 | 8 498 895,07 | 1,04 |
| 0,25 | % Zendesk, Inc. (MTN) 2018/2023 .............  | USD | 3 845 000 | 4 627 000 | 4 180 000 | % | 147,768 | 5 069 552,60 | 0,62 |
| 0,75 | % Zillow Group, Inc. (MTN) 2019/2024 ..........  | USD | 2 937 000 | 4 106 000 | 1 169 000 | % | 139,25 | 3 649 140,41 | 0,45 |
| 1,375 | % Zillow Group, Inc. (MTN) 2019/2026 ..........  | USD | 3 620 000 | 6 031 000 | 2 411 000 | % | 143,372 | 4 630 892,20 | 0,57 |
| 0,25 | % Zynga, Inc. (MTN) 2019/2024 ...............  | USD | 8 020 000 | 8 020 000 |  | % | 129,958 | 9 299 661,49 | 1,14 |
| Nichtnotierte Wertpapiere |  |  |  |  |  | 1 924 945,43 | 0,23 |
| Verzinsliche Wertpapiere 0,00	% Relo Group, Inc. 2018/2021 .................  | JPY | 240 000 000 | 240 000 000 | % | 96,817 | 1 924 945,43 | 0,23 |
| Summe Wertpapiervermögen |  |  |  |  |  | 782 135 570,59 | 95,49 |

| Derivate (Bei den mit Minus gekennzeichneten Beständen handelt es sich um verkaufte Positionen) |  |
| --- | --- |
| Devisen-Derivate Forderungen/Verbindlichkeiten | 18 017 454,61 | 2,20 |
| Devisentermingeschäfte |  |  |
| Devisentermingeschäfte (Kauf) |  |  |
| Offene Positionen CHF/EUR 18,6 Mio. ................................  | 83 638,30 | 0,01 |
| SEK/EUR 62,4 Mio. ................................  | 25 242,41 | 0,00 |
| SGD/EUR 0,1 Mio.  ................................  | 97,60 | 0,00 |
| Devisentermingeschäfte (Verkauf) |  |  |
| Offene Positionen EUR/AUD 4,4 Mio.  ................................  | -69 737,97 | -0,01 |
| EUR/GBP 11,8 Mio. ................................  | 408 049,47 | 0,05 |
| EUR/HKD 197,2 Mio.  ..............................  | 568 646,26 | 0,07 |
| EUR/JPY 1494,3 Mio. ..............................  | 490 321,63 | 0,06 |
| EUR/USD 412,6 Mio.  ..............................  | 6 998 416,39 | 0,85 |
| Geschlossene Positionen EUR/AUD 1,6 Mio.  ................................  | -25 610,46 | 0,00 |
| EUR/CHF 14,4 Mio. ................................  | 133 543,87 | 0,02 |
| EUR/GBP 5,7 Mio. .................................  | 202 490,36 | 0,02 |
| EUR/HKD 74,2 Mio.  ...............................  | 273 885,01 | 0,03 |
| EUR/JPY 549,3 Mio. ...............................  | 168 503,25 | 0,02 |
| EUR/SGD 16,2 Mio.  ...............................  | 188 193,52 | 0,02 |
| EUR/USD 343,8 Mio.  ..............................  | 8 571 774,97 | 1,06 |
| Bankguthaben | 21 988 112,28 | 2,69 |
| Verwahrstelle (täglich fällig) EUR-Guthaben	EUR | 21 067 745,14 | 2,57 |
| Guthaben in sonstigen EU/EWR-Währungen |  |  |
| Britisches Pfund ...................................	GBP	189 492 | 207 963,13 | 0,03 |
| Schwedische Kronen ...............................	SEK	21 187 | 2 022,40 | 0,00 |
| Guthaben in Nicht-EU/EWR-Währungen |  |  |
| Australischer Dollar ................................	AUD	284 142 | 174 097,92 | 0,02 |
| Hongkong Dollar ...................................	HKD	2 789 687 | 321 163,06 | 0,04 |
| Japanischer Yen ...................................	JPY	17 771 780 | 147 226,67 | 0,02 |
| Schweizer Franken .................................	CHF	68 971 | 64 775,25 | 0,01 |
| Südkoreanischer Won ..............................	KRW	4 204 311 | 3 118,71 | 0,00 |
| Sonstige Vermögensgegenstände | 2 949 932,99 | 0,36 |
| Zinsansprüche ....................................  | 1 636 824,47 | 0,20 |
| Sonstige Ansprüche ................................  | 1 313 108,52 | 0,16 |
| Forderungen aus Anteilscheingeschäften | 84 737,12 | 0,01 |
| Summe der Vermögensgegenstände ** | 825 271 156,02 | 100,76 |
| Kurzfristige Verbindlichkeiten | -1 308 048,87 | -0,16 |
| Kredite in Nicht-EU/EWR-Währungen |  |  |
| Singapur Dollar ....................................	SGD	-94 965 | -60 688,74 | -0,01 |
| US-Dollar ........................................	USD	-1 397 978 | -1 247 360,13 | -0,15 |
| Sonstige Verbindlichkeiten | -2 466 017,80 | -0,30 |
| Verbindlichkeiten aus Kostenpositionen ................  | -1 013 864,65 | -0,12 |
| Andere sonstige Verbindlichkeiten .....................  | -1 452 153,15 | -0,18 |
| Verbindlichkeiten aus Anteilscheingeschäften | -2 350 741,61 | -0,29 |
| Summe der Verbindlichkeiten | -6 220 156,71 | -0,76 |
| Fondsvermögen | 819 050 999,31 | 100,00 |
| Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein. |  |  |

Eine Aufstellung über die während des Berichtszeitraums abgeschlossenen Geschäfte, soweit sie nicht mehr in der Vermögensaufstellung erscheinen, ist auf Anforderung kostenlos bei der Verwaltungsgesellschaft erhältlich.
| Anteilwert bzw. umlaufende Anteile | Stück bzw. Währung | Anteilwert in der jeweiligen Währung |
| --- | --- | --- |
| Anteilwert Klasse CHF FCH ...................................  | CHF | 140,91 |
| Klasse CHF LCH ...................................  | CHF | 108,83 |
| Klasse FC ........................................  | EUR | 197,96 |
| Klasse FC (CE) ....................................  | EUR | 163,05 |
| Klasse FD ........................................  | EUR | 116,15 |
| Klasse LC ........................................  | EUR | 179,78 |
| Klasse LC (CE) ....................................  | EUR | 132,14 |
| Klasse LD ........................................  | EUR | 169,56 |
| Klasse NC ........................................  | EUR | 167,93 |
| Klasse PFC .......................................  | EUR | 108,18 |
| Klasse RC (CE) ....................................  | EUR | 118,38 |
| Klasse TFC .......................................  | EUR | 104,96 |
| Klasse TFD .......................................  | EUR | 103,86 |
| Klasse GBP DH RD ................................  | GBP | 182,57 |
| Klasse SEK FCH ...................................  | SEK | 1 103,71 |
| Klasse SEK LCH ...................................  | SEK | 1 076,61 |
| Klasse USD FCH ..................................  | USD | 205,14 |
| Klasse USD LCH ..................................  | USD | 191,82 |
| Klasse USD TFCH .................................  | USD | 112,37 |
| Umlaufende Anteile Klasse CHF FCH ...................................  | Stück | 204 275,818 |
| Klasse CHF LCH ...................................  | Stück | 796,760 |
| Klasse FC ........................................  | Stück | 1 876 983,529 |
| Klasse FC(CE) .....................................  | Stück | 802 707,888 |
| Klasse FD ........................................  | Stück | 75 297,000 |
| Klasse LC ........................................  | Stück | 421 995,698 |
| Klasse LC (CE) ....................................  | Stück | 5 592,000 |
| Klasse LD ........................................  | Stück | 155 718,724 |
| Klasse NC ........................................  | Stück | 174 407,296 |
| Klasse PFC .......................................  | Stück | 14 081,000 |
| Klasse RC (CE) ....................................  | Stück | 676 368,000 |
| Klasse TFC .......................................  | Stück | 23 430,831 |
| Klasse TFD .......................................  | Stück | 12 163,000 |
| Klasse GBP DH RD ................................  | Stück | 5 750,795 |
| Klasse SEK FCH ...................................  | Stück | 1 151,000 |
| Klasse SEK LCH ...................................  | Stück | 57 244,000 |
| Klasse USD FCH ..................................  | Stück | 210 186,055 |
| Klasse USD LCH ..................................  | Stück | 100 841,643 |
| Klasse USD TFCH .................................  | Stück | 2 347,000 |

Zusammensetzung des Referenzportfolios (gem. CSSF-Rundschreiben 11/512)
25% Citi – EuroBIG Corporate Index-A sector, 25% Citi – WorldBIG Corporate A in EUR, 25% MSCI THE WORLD INDEX in EUR, 25% STOXX 50
Potenzieller Risikobetrag für das Marktrisiko (gem. CSSF-Rundschreiben 11/512)
| kleinster potenzieller Risikobetrag .....................  | % | 18,495 |
| --- | --- | --- |
| größter potenzieller Risikobetrag ......................  | % | 69,273 |
| durchschnittlicher potenzieller Risikobetrag ..............  | % | 42,892 |

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 1,5, 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 1 228 969 511,49. Ohne Berücksichtigung gegebenenfalls auf Ebene von Anteilklassen zum Zwecke der Währungsabsicherung abgeschlossener Devisentermingeschäfte.
 Marktschlüssel	 Vertragspartner der Devisentermingeschäfte
Barclays Bank Ireland PLC, BNP Paribas SA, Bofa Securities Europe, Citigroup Global Markets Limited, Deutsche Bank AG, Goldman Sachs International, HSBC France, JP Morgan, Morgan Stanley Europe, Royal Bank of Canada (UK), State Street Bank London, Toronto Dominion Bank und UBS AG
| Erläuterungen zu den Wertpapier-Darlehen |  |
| --- | --- |
| Folgende Wertpapiere sind zum Berichtsstichtag als Wertpapier-Darlehen übertragen: |  |  |  |
| Wertpapierbezeichnung	Währung bzw. Nominal in Stück | Nominalbetrag bzw. Bestand | Wertpapier-Darlehen Kurswert in EUR unbefristet | gesamt |
| 0,01  % GN Store Nord A/S (MTN) 2019/2024	EUR | 700 000 | 705 250,00 |  |
| 0,75  % Euronet Worldwide, Inc. 2019/2049	USD | 1 000 000 | 855 980,71 |  |
| 0	% JPMorgan Chase Bank NA 2019/2022	USD | 400 000 | 449 979,21 |  |
| 0	% Geely Sweden Financials Holding AB (MTN) 2019/2024	EUR | 700 000 | 708 540,00 |  |
| Gesamtbetrag der Rückerstattungsansprüche aus Wertpapier-Darlehen |  | 2 719 749,92 | 2 719 749,92 |
| Vertragspartner der Wertpapier-Darlehen J.P. Morgan Sec Ltd., Morgan Stanley Europe SE EQ, UBS AG London Branch |  |  |  |
| Gesamtbetrag der bei Wertpapier-Darlehen von Dritten gewährten Sicherheiten davon: Schuldverschreibungen |  | EUR EUR | 2 834 599,45 113 571,30 |
| Aktien |  | EUR | 2 721 028,15 |
| Devisenkurse (in Mengennotiz) |  |  |  |
| per 30.6.2020 |  |  |  |

| Australischer Dollar ..............  | AUD | 1,632080 | = EUR | 1 |
| --- | --- | --- | --- | --- |
| Schweizer Franken ...............  | CHF | 1,064768 | = EUR | 1 |
| Britisches Pfund .................  | GBP | 0,911178 | = EUR | 1 |
| Hongkong Dollar .................  | HKD | 8,686201 | = EUR | 1 |
| Japanischer Yen .................  | JPY | 120,710331 | = EUR | 1 |
| Südkoreanischer Won ............  | KRW | 1 348,093605 | = EUR | 1 |
| Schwedische Kronen .............  | SEK | 10,476263 | = EUR | 1 |
| Singapur Dollar ..................  | SGD | 1,564791 | = 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.
Fußnoten
* Diese Wertpapiere sind ganz oder teilweise verliehen.
** Beinhaltet, sofern vorhanden, keine Positionen mit negativem Bestand.