# DWS Invest Global Bonds
DWS INVEST GLOBAL BONDS

### Performance of share classes (in EUR)
| Share class | ISIN | 6 months |
| --- | --- | --- |
| Class LC | LU0616844923 | -12.3% |
| Class FC | LU0616846035 | -12.1% |
| Class FD | LU1054334179 | -12.1% |
| Class IC | LU1054333791 | -12.0% |
| Class LD | LU0616845144 | -12.3% |
| Class NC | LU0616845490 | -12.5% |
| Class NDQ | LU1576724360 | -12.5% |
| Class PFC | LU1054334252 | 0.0% 5 |
| Class PFDQ | LU1054334336 | -12.1% |
| Class TFC | LU1663911300 | -12.1% |
| Class TFD | LU1663913009 | -12.1% |
| Class CHF FCH 1 | LU1054335655 | -5.5% 6 |
| Class CHF LCH 1 | LU1054335812 | -12.3% |
| Class GBP CH RD 2 | LU1249493864 | -11.7% |
| Class GBP DH RD 2 | LU1054335226 | -11.6% |
| Class GBP IDH 2 | LU1054335069 | -11.6% |
| Class SEK LCH 3 | LU1281067741 | -12.1% |
| Class USD FCH 4 | LU1054334682 | -11.5% |
| Class USD LCH 4 | LU1054334849 | -11.7% |
| Class USD TFCH 4 | LU1663914742 | -11.5% |

1 
in CHF
2 
in GBP
3 
in SEK
4 
in USD
5 
Last share price calculation on December 30, 2021
6 
Last share price calculation on December 30, 2020
“BVI method” performance, i.e., excluding the initial sales charge.
Past performance is no guide to future results.	As of: June 30, 2022
The format used for complete dates
in security names in the investment
portfolio is “day/month/year”.
DWS Invest Global Bonds
| Statement of net assets as of June 30, 2022 |  |
| --- | --- |
|  | Amount in EUR | % of net assets |
| I. Assets |  |  |
| 1. Bonds (issuers) Companies | 88 934 879.23 | 69.91 |
| Institutions | 0.06 | 0.00 |
| Central governments | 28 912 167.16 | 22.72 |
| Total bonds | 117 847 046.45 | 92.63 |
| 2. Derivatives | -1 775 106.37 | -1.39 |
| 3. Cash at bank | 10 397 330.69 | 8.17 |
| 4. Other assets | 903 589.00 | 0.71 |
| 5. Receivables from share certificate transactions | 8 042.16 | 0.01 |
| II. Liabilities |  |  |
| 1. Other liabilities | -154 278.68 | -0.12 |
| 2. Liabilities from share certificate transactions | -8 753.57 | -0.01 |
| III. Net assets | 127 217 869.68 | 100.00 |
| Negligible rounding errors may have arisen due to the rounding of calculated percentages. |  |  |

| Investment portfolio – June 30, 2022 |  |
| --- | --- |
|  | Count/ | Quantity/ | Purchases/ | Sales/ | Currency | Market price | Total market | % of |
| Security name | units/ currency | principal amount | additions in the | disposals reporting period |  |  | value in EUR | net assets |
| Securities traded on an exchange |  |  |  |  |  |  | 117 847 046.39 | 92.63 |
| Interest-bearing securities |  |  |  |  |  |  |  |  |
| 0.00 | % ABB Finance BV (MTN) 2021/2030 * ...........  | EUR | 600 000 |  |  | % | 80.483 | 482 898.00 | 0.38 |
| 3.00 | % Accor SA (MTN) 2019/2026 * .................  | EUR | 500 000 |  |  | % | 91.973 | 459 865.00 | 0.36 |
| 0.50 | % AIB Group PLC (MTN) 2021/2027 ** ...........  | EUR | 1 470 000 |  |  | % | 86.654 | 1 273 813.80 | 1.00 |
| 0.95 | % American Tower Corp. (MTN) 2021/2030 ........  | EUR | 1 000 000 | 1 000 000 |  | % | 78.269 | 782 690.00 | 0.61 |
| 1.625 | % Aroundtown SA (MTN) 2021/perpetual ** .......  | EUR | 500 000 |  |  | % | 61.982 | 309 910.00 | 0.24 |
| 0.541 | % Asahi Group Holdings Ltd (MTN) 2020/2028 .....  | EUR | 1 000 000 |  |  | % | 86.11 | 861 100.00 | 0.68 |
| 1.00 | % Balder Finland Oyj (MTN) 2021/2029 ...........  | EUR | 690 000 |  |  | % | 63.138 | 435 652.20 | 0.34 |
| 1.25 | % Bankinter SA 2021/2032 ** ..................  | EUR | 700 000 |  |  | % | 81.462 | 570 234.00 | 0.45 |
| 1.125 | % Banque Federative du Credit Mutuel SA (MTN) 2021/2031 ..........................  | EUR | 900 000 |  |  | % | 73.034 | 657 306.00 | 0.52 |
| 0.625 | % BNP Paribas SA (MTN) 2020/2032 .............  | EUR | 600 000 |  |  | % | 73.235 | 439 410.00 | 0.35 |
| 0.875 | % BNP Paribas SA (MTN) 2022/2030 **. . . . . . . . . . . | EUR | 1 300 000 | 1 300 000 |  | % | 82.732 | 1 075 516.00 | 0.85 |
| 0.50 | % Brenntag Finance BV (MTN) 2021/2029 .........  | EUR | 1 000 000 |  |  | % | 78.518 | 785 180.00 | 0.62 |
| 0.00 | % Bundesobligation (MTN) 2020/2025 *. . . . . . . . . . . | EUR | 6 000 000 | 6 000 000 |  | % | 97.253 | 5 835 180.00 | 4.59 |
| 0.00 | % Bundesrepublik Deutschland Bundesanleihe (MTN) 2022/2032 * .........................  | EUR | 6 000 000 | 6 000 000 |  | % | 87.67 | 5 260 200.00 | 4.13 |
| 0.50 | % CaixaBank SA (MTN) 2021/2029 ** ............  | EUR | 800 000 |  |  | % | 82.677 | 661 416.00 | 0.52 |
| 1.75 | % Cellnex Telecom SA (MTN) 2020/2030 ..........  | EUR | 1 000 000 |  |  | % | 71.435 | 714 350.00 | 0.56 |
| 0.555 | % Chile Government International Bond (MTN) 2021/2029 * .........................  | EUR | 980 000 |  |  | % | 82.646 | 809 930.80 | 0.64 |
| 0.375 | % CNP Assurances (MTN) 2020/2028 ............  | EUR | 1 000 000 |  |  | % | 82.12 | 821 200.00 | 0.65 |
| 0.125 | % Credit Agricole SA (MTN) 2020/2027 *..........  | EUR | 1 200 000 |  |  | % | 84.242 | 1 010 904.00 | 0.79 |
| 0.625 | % Credit Suisse Group AG (MTN) 2021/2033 .......  | EUR | 2 000 000 |  | 500 000 | % | 64.716 | 1 294 320.00 | 1.02 |
| 1.00 | % Deutsche Bank AG (MTN) 2020/2025 ** ........  | EUR | 1 300 000 |  | 500 000 | % | 94.419 | 1 227 447.00 | 0.96 |
| 3.25 | % Deutsche Bank AG (MTN) 2022/2028 ** ........  | EUR | 500 000 | 500 000 |  | % | 95.63 | 478 150.00 | 0.38 |
| 3.00 | % Deutsche Lufthansa AG (MTN) 2020/2026 .......  | EUR | 1 000 000 |  |  | % | 84.613 | 846 130.00 | 0.66 |
| 2.25 | % DIC Asset AG (MTN) 2021/2026 ...............  | EUR | 700 000 |  |  | % | 67.532 | 472 724.00 | 0.37 |
| 1.00 | % Digital Dutch Finco BV 2020/2032 .............  | EUR | 950 000 |  |  | % | 71.3 | 677 350.00 | 0.53 |
| 5.00 | % doValue SpA -Reg- (MTN) 2020/2025 ...........  | EUR | 500 000 |  |  | % | 95.444 | 477 220.00 | 0.37 |
| 2.625 | % Drax Finco PLC (MTN) 2020/2025 * ............  | EUR | 803 000 |  |  | % | 91.736 | 736 640.08 | 0.58 |
| 1.875 | % EDP Finance BV (MTN) 2022/2029 .............  | EUR | 400 000 | 400 000 |  | % | 91.029 | 364 116.00 | 0.29 |
| 3.75 | % Elior Group SA (MTN) 2021/2026 *. . . . . . . . . . . . . | EUR | 750 000 |  |  | % | 78.162 | 586 215.00 | 0.46 |
| 0.25 | % Enel Finance International NV 2022/2025 ........  | EUR | 1 140 000 | 1 140 000 |  | % | 92.631 | 1 055 993.40 | 0.83 |
| 4.35 | % Fortune Star BVI Ltd 2019/2023 * .............  | EUR | 782 000 |  |  | % | 78.667 | 615 175.94 | 0.48 |
| 0.875 | % Gecina SA (MTN) 2022/2033 * ................  | EUR | 1 200 000 | 1 200 000 |  | % | 74.539 | 894 468.00 | 0.70 |
| 3.50 | % Getlink SE (MTN) 2020/2025. . . . . . . . . . . . . . . . . . | EUR | 1 000 000 |  |  | % | 95.868 | 958 680.00 | 0.75 |
| 0.25 | % Goldman Sachs Group, Inc. (MTN) 2021/2028 ....  | EUR | 2 000 000 |  |  | % | 83.788 | 1 675 760.00 | 1.32 |
| 2.625 | % Heimstaden Bostad AB 2021/perpetual **.......  | EUR | 1 130 000 |  |  | % | 51.913 | 586 616.90 | 0.46 |
| 0.625 | % Holding d‘Infrastructures de Transport SASU (MTN) 2021/2028 ..........................  | EUR | 2 000 000 |  |  | % | 82.887 | 1 657 740.00 | 1.30 |
| 0.641 | % HSBC Holdings PLC (MTN) 2021/2029 ** *......  | EUR | 2 500 000 |  |  | % | 82.161 | 2 054 025.00 | 1.61 |
| 1.45 | % Iberdrola International BV 2021/perpetual ** .....  | EUR | 800 000 |  |  | % | 83.112 | 664 896.00 | 0.52 |
| 0.90 | % Indonesia Government International Bond (MTN) 2020/2027 ..........................  | EUR | 1 000 000 | 1 000 000 |  | % | 88.449 | 884 490.00 | 0.69 |
| 1.875 | % Infrastrutture Wireless Italiane SpA (MTN) 2020/2026 ..........................  | EUR | 500 000 |  |  | % | 92.494 | 462 470.00 | 0.36 |
| 0.25 | % ING Groep NV (MTN) 2021/2030 ** ............  | EUR | 900 000 |  |  | % | 80.242 | 722 178.00 | 0.57 |
| 3.375 | % Intertrust Group BV -Reg- (MTN) 2018/2025 .....  | EUR | 500 000 |  |  | % | 95.261 | 476 305.00 | 0.37 |
| 0.75 | % Intesa Sanpaolo SpA (MTN) 2021/2028 .........  | EUR | 780 000 |  |  | % | 84.868 | 661 970.40 | 0.52 |
| 3.50 | % Intrum AB -Reg- (MTN) 2019/2026 * ...........  | EUR | 1 000 000 |  |  | % | 84.051 | 840 510.00 | 0.66 |
| 0.875 | % ISS Global A/S (MTN) 2019/2026 * .............  | EUR | 1 000 000 |  |  | % | 90.044 | 900 440.00 | 0.71 |
| 2.00 | % Koninklijke KPN NV 2019/perpetual ** ..........  | EUR | 1 000 000 |  |  | % | 92.171 | 921 710.00 | 0.72 |
| 0.375 | % LEG Immobilien SE (MTN) 2022/2026 ..........  | EUR | 600 000 | 600 000 |  | % | 88.745 | 532 470.00 | 0.42 |
| 5.75 | % Lenzing AG 2020/perpetual ** *...............  | EUR | 500 000 |  |  | % | 95.624 | 478 120.00 | 0.38 |
| 0.497 | % Morgan Stanley (MTN) 2021/2031 **...........  | EUR | 2 000 000 |  |  | % | 80.034 | 1 600 680.00 | 1.26 |
| 0.163 | % National Grid PLC (MTN) 2021/2028 ............  | EUR | 1 000 000 | 490 000 |  | % | 84.967 | 849 670.00 | 0.67 |
| 0.50 | % Nationale-Nederlanden Bank NV/ The Netherlands (MTN) 2021/2028.............  | EUR | 700 000 |  |  | % | 83.626 | 585 382.00 | 0.46 |
| 4.125 | % Naturgy Finance BV 2014/perpetual ** .........  | EUR | 600 000 |  |  | % | 98.955 | 593 730.00 | 0.47 |
| 1.043 | % NatWest Group PLC (MTN) 2021/2032 ** .......  | EUR | 1 500 000 |  |  | % | 81.551 | 1 223 265.00 | 0.96 |
| 1.625 | % Nexi SpA (MTN) 2021/2026 ..................  | EUR | 650 000 |  |  | % | 81.697 | 531 030.50 | 0.42 |
| 3.125 | % Nokia Oyj (MTN) 2020/2028 ..................  | EUR | 1 000 000 |  |  | % | 91.533 | 915 330.00 | 0.72 |
| 1.125 | % Norsk Hydro ASA (MTN) 2019/2025 ............  | EUR | 800 000 |  |  | % | 95.178 | 761 424.00 | 0.60 |
| 0.082 | % NTT FINANCE Corp. 2021/2025 ...............  | EUR | 1 000 000 | 1 000 000 |  | % | 93.043 | 930 430.00 | 0.73 |
| 1.00 | % Optus Finance Pty, Ltd (MTN) 2019/2029 .......  | EUR | 1 000 000 |  |  | % | 87.588 | 875 880.00 | 0.69 |
| 1.375 | % Orange SA (MTN) 2021/perpetual ** *. . . . . . . . . . | EUR | 1 000 000 |  |  | % | 74.769 | 747 690.00 | 0.59 |
| 1.50 | % Orsted AS 2021/3021 **. . . . . . . . . . . . . . . . . . . . . | EUR | 1 250 000 |  |  | % | 73.658 | 920 725.00 | 0.72 |
| 3.00 | % ProGroup AG -Reg- (MTN) 2018/2026 * .........  | EUR | 500 000 |  |  | % | 88.489 | 442 445.00 | 0.35 |
| 3.078 | % Prosus NV -Reg- (MTN) 2020/2028 .............  | EUR | 1 100 000 |  |  | % | 79.288 | 872 168.00 | 0.69 |
| 0.00 | % Prosus NV -Reg- (MTN) 2021/2029 .............  | EUR | 640 000 |  |  | % | 74.877 | 479 212.80 | 0.38 |
| 2.125 | % Rexel SA (MTN) 2021/2028. . . . . . . . . . . . . . . . . . . | EUR | 500 000 |  |  | % | 79.185 | 395 925.00 | 0.31 |
| 2.875 | % Romanian Government International Bond (MTN) 2018/2029 ..........................  | EUR | 1 000 000 |  |  | % | 83.268 | 832 680.00 | 0.65 |
| 3.125 | % Sappi Papier Holding GmbH -Reg- (MTN) 2019/2026 ..........................  | EUR | 1 000 000 |  |  | % | 89.093 | 890 930.00 | 0.70 |

| 0.75 | % SBB Treasury Oyj (MTN) 2020/2028 ............  | EUR | 700 000 |  | % | 60.337 | 422 359.00 | 0.33 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 2.375 | % Signify NV (MTN) 2020/2027. . . . . . . . . . . . . . . . . . | EUR | 1 000 000 | 1 000 000 | % | 94.929 | 949 290.00 | 0.75 |
| 0.50 | % Smurfit Kappa Treasury ULC (MTN) 2021/2029 ...  | EUR | 1 000 000 | 500 000 | % | 79.818 | 798 180.00 | 0.63 |
| 0.25 | % Societe Generale SA (MTN) 2021/2027 .........  | EUR | 2 000 000 |  | % | 87.684 | 1 753 680.00 | 1.38 |
| 5.869 | % Solvay Finance SACA 2015/perpetual ** ........  | EUR | 750 000 |  | % | 98.564 | 739 230.00 | 0.58 |
| 1.20 | % Standard Chartered PLC (MTN) 2021/2031 ** ....  | EUR | 2 000 000 |  | % | 86.018 | 1 720 360.00 | 1.35 |
| 0.50 | % Swiss Life Finance I Ltd (MTN) 2021/2031.......  | EUR | 750 000 | 750 000 | % | 77.708 | 582 810.00 | 0.46 |
| 0.75 | % Takeda Pharmaceutical Co., Ltd (MTN) 2020/2027 | EUR | 2 000 000 |  | % | 90.655 | 1 813 100.00 | 1.42 |
| 2.00 | % Techem Verwaltungsgesellschaft 675 mbH -Reg- (MTN) 2020/2025 ..........................  | EUR | 500 000 |  | % | 87.939 | 439 695.00 | 0.35 |
| 3.875 | % Tele Columbus AG -Reg- (MTN) 2018/2025 * ....  | EUR | 500 000 |  | % | 84.194 | 420 970.00 | 0.33 |
| 2.125 | % Tele2 AB (MTN) 2018/2028. . . . . . . . . . . . . . . . . . . | EUR | 1 000 000 | 1 000 000 | % | 96.255 | 962 550.00 | 0.76 |
| 2.50 | % Telecom Italia SpA (MTN) 2017/2023 ...........  | EUR | 1 000 000 |  | % | 99.121 | 991 210.00 | 0.78 |
| 1.625 | % Telecom Italia SpA (MTN) 2021/2029 * .........  | EUR | 1 000 000 |  | % | 72.964 | 729 640.00 | 0.57 |
| 2.376 | % Telefonica Europe BV 2021/perpetual ** ........  | EUR | 700 000 |  | % | 71.149 | 498 043.00 | 0.39 |
| 0.375 | % Terna - Rete Elettrica Nazionale (MTN) 2020/2030 . | EUR | 600 000 |  | % | 79.178 | 475 068.00 | 0.37 |
| 0.25 | % UBS Group AG (MTN) 2020/2028 ** ...........  | EUR | 1 700 000 |  | % | 84.407 | 1 434 919.00 | 1.13 |
| 2.875 | % Unibail-Rodamco-Westfield SE 2018/perpetual ** . | EUR | 1 000 000 |  | % | 70.09 | 700 900.00 | 0.55 |
| 2.00 | % Veolia Environnement SA 2021/perpetual ** * ...  | EUR | 1 000 000 |  | % | 77.754 | 777 540.00 | 0.61 |
| 3.00 | % Vodafone Group PLC 2020/2080 ** * ..........  | EUR | 1 000 000 |  | % | 76.069 | 760 690.00 | 0.60 |
| 0.375 | % Vonovia SE (MTN) 2021/2027 .................  | EUR | 700 000 |  | % | 84.165 | 589 155.00 | 0.46 |
| 0.00 | % Vonovia SE (MTN) 2021/2025 .................  | EUR | 500 000 |  | % | 88.933 | 444 665.00 | 0.35 |
| 5.875 | % Webuild SpA (MTN) 2020/2025 ...............  | EUR | 1 000 000 |  | % | 91.623 | 916 230.00 | 0.72 |
| 0.766 | % WESTPAC BANKING Corp. (MTN) 2021/2031 **. . | EUR | 860 000 |  | % | 87.641 | 753 712.60 | 0.59 |
| 2.75 | % Wienerberger AG (MTN) 2020/2025 * ..........  | EUR | 800 000 |  | % | 96.616 | 772 928.00 | 0.61 |
| 2.10 | % Airport Authority 2020/perpetual ** ............  | USD | 1 000 000 |  | % | 90.879 | 872 536.55 | 0.69 |
| 2.57 | % Australia & New Zealand Banking Group Ltd -Reg- 2020/2035 ** ................  | USD | 2 500 000 |  | % | 80.229 | 1 925 712.62 | 1.51 |
| 3.125 | % Banco de Credito del Peru SA -Reg- (MTN) 2020/2030 ** ........................  | USD | 1 000 000 |  | % | 91.411 | 877 644.32 | 0.69 |
| 2.704 | % Banco del Estado de Chile -Reg- (MTN) 2020/2025 | USD | 1 000 000 |  | % | 95.041 | 912 496.24 | 0.72 |
| 5.375 | % Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand -Reg- (MTN) 2020/2025 * .........................  | USD | 500 000 |  | % | 100.525 | 482 574.28 | 0.38 |
| 4.25 | % Banistmo SA -Reg- (MTN) 2020/2027 ...........  | USD | 1 000 000 |  | % | 93.554 | 898 219.44 | 0.71 |
| 4.50 | % Colombia Government International Bond 2018/2029 ................................  | USD | 1 500 000 |  | % | 85.83 | 1 236 091.05 | 0.97 |
| 4.95 | % Colombia Telecomunicaciones SA ESP -Reg- (MTN) 2020/2030 ..........................  | USD | 500 000 |  | % | 79.096 | 379 703.51 | 0.30 |
| 3.348 | % Comision Federal de Electricidad -Reg- (MTN) 2021/2031 * .........................  | USD | 605 000 |  | % | 76.741 | 445 761.87 | 0.35 |
| 4.00 | % Dell International LLC Via EMC Corp. 2021/2024 ..  | USD | 1 000 000 |  | % | 99.788 | 958 072.57 | 0.75 |
| 6.00 | % Dominican Republic International Bond -Reg- (MTN) 2018/2028 ..........................  | USD | 500 000 | 500 000 | % | 92.853 | 445 744.54 | 0.35 |
| 1.30 | % Ecolab, Inc. 2020/2031 ......................  | USD | 1 500 000 |  | % | 80.179 | 1 154 707.49 | 0.91 |
| 6.125 | % Gold Fields Orogen Holdings BVI Ltd -Reg- (MTN) 2019/2029 ..........................  | USD | 1 000 000 |  | % | 100.932 | 969 056.21 | 0.76 |
| 1.75 | % Hewlett Packard Enterprise Co. (MTN) 2020/2026. | USD | 1 000 000 |  | % | 91.256 | 876 156.16 | 0.69 |
| 2.65 | % HP, Inc. (MTN) 2022/2031. . . . . . . . . . . . . . . . . . . . | USD | 1 000 000 | 1 000 000 | % | 80.119 | 769 228.93 | 0.60 |
| 1.75 | % Johnson Controls International Plc Via Tyco Fire & Security Finance SCA (MTN) 2020/2030.........  | USD | 1 000 000 |  | % | 81.616 | 783 601.75 | 0.62 |
| 3.05 | % Meituan -Reg- (MTN) 2020/2030 * .............  | USD | 1 000 000 |  | % | 75.175 | 721 761.19 | 0.57 |
| 5.65 | % Network i2i Ltd -Reg- 2019/perpetual ** ........  | USD | 500 000 |  | % | 92.975 | 446 330.21 | 0.35 |
| 6.10 | % Paraguay Government International Bond -Reg- 2014/2044 ................................  | USD | 500 000 |  | % | 86.935 | 417 334.95 | 0.33 |
| 3.75 | % Promigas SA ESP Via Gases del Pacifico SAC -144A- (MTN) 2019/2029 ..........  | USD | 500 000 |  | % | 81.272 | 390 149.49 | 0.31 |
| 2.375 | % SK Hynix, Inc. -Reg- (MTN) 2021/2031 ..........  | USD | 1 500 000 |  | % | 78.898 | 1 136 259.02 | 0.89 |
| 2.142 | % Sumitomo Mitsui Financial Group, Inc. (MTN) 2020/2030 .......................      | USD | 1 000 000 |  | % | 80.436 | 772 272.47 | 0.61 |
| 4.375 | % SURA Asset Management SA -Reg- (MTN) 2017/2027 ..........................  | USD | 500 000 |  | % | 95.292 | 457 453.06 | 0.36 |
| 1.15 | % TJX Cos, Inc. (MTN) 2020/2028 ...............  | USD | 1 000 000 |  | % | 84.82 | 814 363.61 | 0.64 |
| 1.00 | % TSMC Global Ltd -Reg- (MTN) 2020/2027 .......  | USD | 1 500 000 |  | % | 86.182 | 1 241 160.42 | 0.98 |
| 0.125 | % United States Treasury Note/Bond 2020/2022 ....  | USD | 4 000 000 | 4 000 000 | % | 98.799 | 3 794 320.47 | 2.98 |
| 1.375 | % United States Treasury Note/Bond (MTN) 2021/2031 ..........................  | USD | 6 000 000 | 6 000 000 | % | 86.641 | 4 991 061.43 | 3.92 |
| 0.00 | % United States Treasury Note/Bond – When Issued (MTN) 2021/2026 ...............  | USD | 4 000 000 | 4 000 000 | % | 91.984 | 3 532 597.37 | 2.78 |
| 4.50 | % UPL Corp., Ltd (MTN) 2018/2028 ..............  | USD | 500 000 |  | % | 85.439 | 410 153.34 | 0.32 |
| 1.75 | % Verizon Communications, Inc. 2020/2031. . . . . . . . | USD | 1 000 000 |  | % | 80.355 | 771 494.78 | 0.61 |
| 1.10 | % Visa, Inc. 2020/2031 ........................  | USD | 1 000 000 |  | % | 79.889 | 767 020.68 | 0.60 |
| 1.40 | % VMware, Inc. (MTN) 2021/2026 ...............  | USD | 1 000 000 | 1 000 000 | % | 88.469 | 849 397.95 | 0.67 |
| Securities admitted to or included in organized markets |  |  |  |  | 0.06 | 0.00 |
| Interest-bearing securities 2.185 % RESIMAC Premier Series 2017-2 2017/2049 ** ..  | AUD | 0 | % | 99.984 | 0.05 | 0.00 |
| 1.00  % FROSN-2018 DAC (MTN) 2018/2028 **.........  | EUR | 0 | % | 98.566 | 0.01 | 0.00 |
| Total securities portfolio |  |  |  |  | 117 847 046.45 | 92.63 |

| Count/ Security name	units/ | Quantity/ principal | Purchases/ additions | Sales/ disposals | Currency | Market price | Total market value in | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  | currency | amount | in the reporting | period | EUR |  |
| Derivatives (Minus signs denote short positions) |  |  |  |  |  |  |
| Interest rate derivatives Receivables/payables |  |  |  |  | -1 097 745.83 | -0.86 |
| Interest rate futures Euro BTP Futures 09/2022 (DB) .......................  | Count | -116 |  | 116 | -328 130.03 | -0.26 |
| Euro Buxl Futures 09/2022 (DB) .......................  | Count | 19 | 19 |  | 163 480.01 | 0.13 |
| Euro SCHATZ Futures 09/2022 (DB) ....................  | Count | -297 | 629 | 926 | -260 134.89 | -0.20 |
| Germany Federal Republic Bonds 5 year 09/2022 (DB) .....  | Count | -223 | 223 | 446 | -392 150.05 | -0.31 |
| Germany Federal Republic Notes 10 year 09/2022 (DB) ....  | Count | -46 | 49 | 95 | -79 450.00 | -0.06 |
| Japan 10 year Bond Futures 09/2022 (DB) ...............  | Count | -9 |  | 9 | -53 969.22 | -0.04 |
| US Treasury Notes 10 year Futures 09/2022 (DB) .........  | Count | -150 | 189 | 339 | -147 391.65 | -0.12 |
| Currency derivatives Receivables/payables |  |  |  |  | -677 360.54 | -0.53 |
| Forward currency transactions |  |  |  |  |  |  |
| Forward currency transactions (long) |  |  |  |  |  |  |
| Open positions CHF/EUR 0.2 million ................................  |  |  |  |  | 3 883.06 | 0.01 |
| GBP/EUR 0.1 million ................................  |  |  |  |  | 368.18 | 0.00 |
| SEK/EUR 31.6 million ...............................  |  |  |  |  | -10 615.58 | -0.01 |
| Closed positions USD/EUR 0.3 million ................................  |  |  |  |  | -275.21 | 0.00 |
| Forward currency transactions (short) |  |  |  |  |  |  |
| Open positions EUR/USD 42.2 million ...............................  |  |  |  |  | -670 720.99 | -0.53 |
| Cash at bank |  |  |  |  | 10 397 330.69 | 8.17 |
| Demand deposits at Depositary EUR deposits......................................  | EUR |  |  |  | 4 416 155.35 | 3.47 |
| Deposits in other EU/EEA currencies |  |  |  |  |  |  |
| Swedish krona.....................................  | SEK | 3 290 375 |  |  | 307 211.27 | 0.24 |
| Deposits in non-EU/EEA currencies |  |  |  |  |  |  |
| Australian dollar ....................................         | AUD | 96 285 |  |  | 63 809.60 | 0.05 |
| British pound .....................................  | GBP | 27 385 |  |  | 31 976.08 | 0.02 |
| Japanese yen .....................................  | JPY | 27 691 498 |  |  | 195 613.65 | 0.15 |
| Canadian dollar ....................................  | CAD | 79 227 |  |  | 58 991.52 | 0.05 |
| Mexican peso .....................................  | MXN | 228 615 |  |  | 10 859.36 | 0.01 |
| New Zealand dollar .................................  | NZD | 1 836 |  |  | 1 099.80 | 0.00 |
| Swiss franc .......................................  | CHF | 95 685 |  |  | 96 120.81 | 0.08 |
| U.S. dollar ........................................  | USD | 5 432 194 |  |  | 5 215 493.25 | 4.10 |
| Other assets |  |  |  |  | 903 589.00 | 0.71 |
| Interest receivable .................................  |  |  |  |  | 779 088.61 | 0.61 |
| Receivables from exceeding the expense cap ............  |  |  |  |  | 116 978.40 | 0.09 |
| Other receivables ..................................  |  |  |  |  | 7 521.99 | 0.01 |
| Receivables from share certificate transactions |  |  |  |  | 8 042.16 | 0.01 |
| Total assets *** |  |  |  |  | 129 323 739.55 | 101.66 |
| Other liabilities |  |  |  |  | -154 278.68 | -0.12 |
| Liabilities from cost items ............................  |  |  |  |  | -154 278.68 | -0.12 |
| Liabilities from share certificate transactions |  |  |  |  | -8 753.57 | -0.01 |
| Total liabilities |  |  |  |  | -2 105 869.87 | -1.66 |
| Net assets |  |  |  |  | 127 217 869.68 | 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 LCH ....................................  | CHF | 81.06 |
| Class FC .........................................  | EUR | 99.25 |
| Class FD .........................................  | EUR | 75.73 |
| Class IC ..........................................  | EUR | 87.69 |
| Class LC .........................................  | EUR | 85.54 |
| Class LD .........................................  | EUR | 76.11 |
| Class NC .........................................  | EUR | 82.05 |
| Class NDQ........................................  | EUR | 77.62 |
| Class PFDQ .......................................  | EUR | 78.99 |
| Class TFC ........................................  | EUR | 85.32 |
| Class TFD ........................................  | EUR | 78.86 |
| Class GBP CH RD ..................................  | GBP | 92.15 |
| Class GBP DH RD ..................................  | GBP | 80.87 |
| Class GBP IDH ....................................  | GBP | 80.87 |
| Class SEK LCH ....................................  | SEK | 857.00 |
| Class TFCH .......................................  | USD | 93.25 |
| Class USD FCH ....................................  | USD | 98.03 |
| Class USD LCH ....................................  | USD | 95.31 |
| Number of shares outstanding Class CHF LCH ....................................  | Count | 2 564.612 |
| Class FC .........................................  | Count | 69 542.608 |
| Class FD .........................................  | Count | 6 147.000 |
| Class IC ..........................................  | Count | 1 075 944.000 |
| Class LC .........................................  | Count | 65 813.615 |
| Class LD .........................................  | Count | 136 669.750 |
| Class NC .........................................  | Count | 55 879.552 |
| Class NDQ........................................  | Count | 17 479.000 |
| Class PFDQ .......................................  | Count | 108.000 |
| Class TFC ........................................  | Count | 20.279 |
| Class TFD ........................................  | Count | 20.000 |
| Class GBP CH RD ..................................  | Count | 122.110 |
| Class GBP DH RD ..................................  | Count | 371.000 |
| Class GBP IDH ....................................  | Count | 90.000 |
| Class SEK LCH ....................................  | Count | 36 831.000 |
| Class TFCH .......................................  | Count | 24.000 |
| Class USD FCH ....................................  | Count | 2 350.000 |
| Class USD LCH ....................................  | Count | 921.000 |

Presentation of the maximum limit (according to CSSF circular 11/512) 14.14% of portfolio value
Market risk exposure (value-at-risk) (according to CSSF circular 11/512)
| Lowest market risk exposure .........................  | % | 0.810 |
| --- | --- | --- |
| Highest market risk exposure .........................  | % | 2.954 |
| Average market risk exposure ........................  | % | 1.735 |

The values-at-risk were calculated for the period from January 1, 2022, through June 30, 2022, using historical simulation with a 99% confidence level, a 10-day holding period and an effective historical observation period of one year. The risk in a reference portfolio that does not contain derivatives is used as the measurement benchmark. Market risk is the risk to the fund’s assets arising from an unfavorable change in market prices. The Company determines the potential market risk by means of the absolute value-at-risk approachas defined in CSSF circular 11/512.
In the reporting period, the average leverage effect from the use of derivatives was 0.7, 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 108 865 782.07. Does not include any forward currency transactions entered into for currency hedging purposes at the level of the share classes.
 Market abbreviations	 Futures exchanges
DB = Deutsche Bank AG Frankfurt
Contracting parties for forward currency transactions
Barclays Bank Ireland PLC, HSBC France, Royal Bank of Canada (UK) and State Street Bank International GmbH

####  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 |
| --- | --- | --- | --- | --- |
| 0.00 | % ABB Finance BV (MTN) 2021/2030	EUR | 600 000 | 482 898.00 |
| 3.00 | % Accor SA (MTN) 2019/2026	EUR | 500 000 | 459 865.00 |
| 0.00 | % Bundesobligation (MTN) 2020/2025	EUR | 5 000 000 | 4 862 650.00 |
| 0.00 | % Bundesrepublik Deutschland Bundesanleihe |  |  |
|  | (MTN) 2022/2032	EUR | 6 000 000 | 5 260 200.00 |
| 0.555 | % Chile Government International Bond |  |  |
|  | (MTN) 2021/2029	EUR | 500 000 | 413 230.00 |
| 0.125 | % Credit Agricole SA (MTN) 2020/2027	EUR | 700 000 | 589 694.00 |
| 2.625 | % Drax Finco PLC (MTN) 2020/2025	EUR | 600 000 | 550 416.00 |
| 3.75 | % Elior Group SA (MTN) 2021/2026	EUR | 600 000 | 468 972.00 |
| 4.35 | % Fortune Star BVI Ltd 2019/2023	EUR | 600 000 | 472 002.00 |
| 0.875 | % Gecina SA (MTN) 2022/2033	EUR | 1 200 000 | 894 468.00 |
| 0.641 | % HSBC Holdings PLC (MTN) 2021/2029 **	EUR | 1 000 000 | 821 610.00 |
| 3.50 | % Intrum AB -Reg- (MTN) 2019/2026	EUR | 500 000 | 420 255.00 |
| 0.875 | % ISS Global A/S (MTN) 2019/2026	EUR | 1 000 000 | 900 440.00 |
| 5.75 | % Lenzing AG 2020/perpetual **	EUR | 200 000 | 191 248.00 |
| 1.375 | % Orange SA (MTN) 2021/perpetual **	EUR | 1 000 000 | 747 690.00 |
| 3.00 | % ProGroup AG -Reg- (MTN) 2018/2026	EUR | 500 000 | 442 445.00 |
| 3.875 | % Tele Columbus AG -Reg- (MTN) 2018/2025	EUR | 500 000 | 420 970.00 |
| 1.625 | % Telecom Italia SpA (MTN) 2021/2029	EUR | 300 000 | 218 892.00 |
| 2.00 | % Veolia Environnement SA 2021/perpetual **	EUR | 500 000 | 388 770.00 |
| 3.00 | % Vodafone Group PLC 2020/2080 **	EUR | 200 000 | 152 138.00 |
| 2.75 | % Wienerberger AG (MTN) 2020/2025	EUR | 500 000 | 483 080.00 |
| 5.375 | % Banco Santander Mexico SA Institucion de |  |  |
|  | Banca Multiple Grupo Financiero Santand -Reg- |  |  |
|  | (MTN) 2020/2025	USD | 500 000 | 482 574.28 |
| 3.348 | % Comision Federal de Electricidad -Reg- |  |  |
|  | (MTN) 2021/2031	USD | 600 000 | 442 077.89 |
| 3.05 | % Meituan -Reg- (MTN) 2020/2030	USD | 1 000 000 | 721 761.19 |

Total receivables from securities loans ..................	21 288 346.36	21 288 346.36
Contracting parties for securities loans
Barclays Bank Ireland PLC FI, BNP Paribas Arbitrage SNC, BNP Paribas S.A., Crédit Suisse Securities Sociedad de Valores S.A. FI, Deutsche Bank AG FI, Goldman Sachs Bank Europe SE EQ, J.P. Morgan AG EQ, J.P. Morgan AG FI, Morgan Stanley Europe SE FI, Nomura Financial Products Europe GmbH
| Total collateral pledged by third parties for securities loans | EUR | 22 719 536.28 |
| --- | --- | --- |
| thereof: |  |  |
| Bonds | EUR | 10 497 611.35 |
| Equities | EUR | 12 221 924.93 |

 Exchange rates (indirect quotes)	
As of June 30, 2022
| Australian dollar	AUD | 1.508945 | = EUR | 1 |
| --- | --- | --- | --- |
| Canadian dollar	CAD | 1.343026 | = EUR | 1 |
| Swiss franc	CHF | 0.995461 | = EUR | 1 |
| British pound	GBP | 0.856432 | = EUR | 1 |
| Japanese yen	JPY | 141.562199 | = EUR | 1 |
| Mexican peso	MXN | 21.052319 | = EUR | 1 |
| New Zealand dollar	NZD | 1.669016 | = EUR | 1 |
| Swedish krona	SEK | 10.710462 | = EUR | 1 |
| U.S. dollar	USD | 1.041549 | = EUR | 1 |

 Notes on valuation	
Under the responsibility of the Board of Directors of the SICAV, the Management Company determines the net asset values per share and performs the valuation of the assets of the fund. The basic provision of price data and price validation are performed in accordance with the method introduced by the Board of Directors of the SICAV on the basis of the legal and regulatory requirements or the principles for valuation methods defined in the SICAV’s prospectus.
If no trading prices are available, prices are determined with the aid of valuation models (derived market values) which are agreed between State Street Bank International GmbH, Luxembourg Branch, as external price service provider and the Management Company and which are based as far as possible on market parameters. This procedure is subject to an ongoing monitoring process. The plausibility of price information from third parties is checked through other pricing sources, model calculations or other suitable procedure.
Assets reported in this report are valued at derived market values.
 Footnotes	
* Some or all of these securities are lent.
** Floating interest rate.
*** Does not include positions with a negative balance, if such exist.

Translation (ENDE, 2022-06-30):
# DWS Invest Global Bonds
DWS INVEST GLOBAL BONDS

### Wertentwicklung der Anteilklassen (in EUR)
| Anteilklasse | ISIN | 6 Monate |
| --- | --- | --- |
| Klasse LC | LU0616844923 | -12,3% |
| Klasse FC | LU0616846035 | -12,1% |
| Klasse FD | LU1054334179 | -12,1% |
| Klasse IC | LU1054333791 | -12,0% |
| Klasse LD | LU0616845144 | -12,3% |
| Klasse NC | LU0616845490 | -12,5% |
| Klasse NDQ | LU1576724360 | -12,5% |
| Klasse PFC | LU1054334252 | 0,0% 5) |
| Klasse PFDQ | LU1054334336 | -12,1% |
| Klasse TFC | LU1663911300 | -12,1% |
| Klasse TFD | LU1663913009 | -12,1% |
| Klasse CHF FCH 1) | LU1054335655 | -5,5% 6) |
| Klasse CHF LCH 1) | LU1054335812 | -12,3% |
| Klasse GBP CH RD 2) | LU1249493864 | -11,7% |
| Klasse GBP DH RD 2) | LU1054335226 | -11,6% |
| Klasse GBP IDH 2) | LU1054335069 | -11,6% |
| Klasse SEK LCH 3) | LU1281067741 | -12,1% |
| Klasse USD FCH 4) | LU1054334682 | -11,5% |
| Klasse USD LCH 4) | LU1054334849 | -11,7% |
| Klasse USD TFCH 4) | LU1663914742 | -11,5% |

1) 
in CHF
2) 
in GBP
3) 
in SEK
4) 
in USD
5) 
Letzte Anteilpreisberechnung am 30.12.2021
6) 
Letzte Anteilpreisberechnung am 30.12.2020
Wertentwicklung nach BVI-Methode, d. h. ohne Berücksichtigung des Ausgabeaufschlages.
Wertentwicklungen der Vergangenheit ermöglichen keine Prognose für die Zukunft.	Stand: 30.6.2022
DWS Invest Global Bonds
| Vermögensübersicht zum 30.6.2022 |  |
| --- | --- |
|  | Bestand in EUR | %-Anteil am Fondsvermögen |
| I. Vermögensgegenstände |  |  |
| 1. Anleihen (Emittenten) Unternehmen | 88 934 879,23 | 69,91 |
| Institute | 0,06 | 0,00 |
| Zentralregierungen | 28 912 167,16 | 22,72 |
| Summe Anleihen | 117 847 046,45 | 92,63 |
| 2. Derivate | -1 775 106,37 | -1,39 |
| 3. Bankguthaben | 10 397 330,69 | 8,17 |
| 4. Sonstige Vermögensgegenstände | 903 589,00 | 0,71 |
| 5. Forderungen aus Anteilscheingeschäften | 8 042,16 | 0,01 |
| II. Verbindlichkeiten |  |  |
| 1. Sonstige Verbindlichkeiten | -154 278,68 | -0,12 |
| 2. Verbindlichkeiten aus Anteilscheingeschäften | -8 753,57 | -0,01 |
| III. Fondsvermögen | 127 217 869,68 | 100,00 |
| Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein. |  |  |

| Vermögensaufstellung zum 30.6.2022 |  |
| --- | --- |
| Wertpapierbezeichnung | Stück bzw. Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Währung | Kurs | Kurswert in | %-Anteil am Fonds- |
|  | Währung | Bestand | im Berichtszeitraum |  |  | EUR | vermögen |
| Börsengehandelte Wertpapiere |  |  |  |  |  | 117 847 046,39 | 92,63 |
| Verzinsliche Wertpapiere 0,00  % ABB Finance BV (MTN) 2021/2030 * ...........  | EUR | 600 000 |  | % | 80,483 | 482 898,00 | 0,38 |
| 3,00  % Accor SA (MTN) 2019/2026 * ................  | EUR | 500 000 |  | % | 91,973 | 459 865,00 | 0,36 |
| 0,50  % AIB Group PLC (MTN) 2021/2027 ** ...........  | EUR | 1 470 000 |  | % | 86,654 | 1 273 813,80 | 1,00 |
| 0,95  % American Tower Corp. (MTN) 2021/2030 .......  | EUR | 1 000 000 | 1 000 000 | % | 78,269 | 782 690,00 | 0,61 |
| 1,625 % Aroundtown SA (MTN) 2021/perpetual ** .......  | EUR | 500 000 |  | % | 61,982 | 309 910,00 | 0,24 |
| 0,541 % Asahi Group Holdings Ltd (MTN) 2020/2028 .....  | EUR | 1 000 000 |  | % | 86,11 | 861 100,00 | 0,68 |
| 1,00  % Balder Finland Oyj (MTN) 2021/2029 ...........  | EUR | 690 000 |  | % | 63,138 | 435 652,20 | 0,34 |
| 1,25  % Bankinter SA 2021/2032 ** ..................  1,125 % Banque Federative du Credit Mutuel SA (MTN) 2021/2031 ..........................  | EUR EUR | 700 000 900 000 |  | % % | 81,462 73,034 | 570 234,00 657 306,00 | 0,45 0,52 |
| 0,625 % BNP Paribas SA (MTN) 2020/2032 .............  | EUR | 600 000 |  | % | 73,235 | 439 410,00 | 0,35 |
| 0,875 % BNP Paribas SA (MTN) 2022/2030 ** ..........  | EUR | 1 300 000 | 1 300 000 | % | 82,732 | 1 075 516,00 | 0,85 |
| 0,50  % Brenntag Finance BV (MTN) 2021/2029 ........  | EUR | 1 000 000 |  | % | 78,518 | 785 180,00 | 0,62 |
| 0,00 % Bundesobligation (MTN) 2020/2025 * .......... 0,00 % Bundesrepublik Deutschland Bundesanleihe (MTN) 2022/2032 * ........................  | EUR EUR | 6 000 000 6 000 000 | 6 000 000 6 000 000 | % % | 97,253 87,67 | 5 835 180,00 5 260 200,00 | 4,59 4,13 |
| 0,50  % CaixaBank SA (MTN) 2021/2029 ** ............  | EUR | 800 000 |  | % | 82,677 | 661 416,00 | 0,52 |
| 1,75  % Cellnex Telecom SA (MTN) 2020/2030 .........  0,555 % Chile Government International Bond (MTN) 2021/2029 * ........................  | EUR EUR | 1 000 000 980 000 |  | % % | 71,435 82,646 | 714 350,00 809 930,80 | 0,56 0,64 |
| 0,375 % CNP Assurances (MTN) 2020/2028 ............  | EUR | 1 000 000 |  | % | 82,12 | 821 200,00 | 0,65 |
| 0,125 % Credit Agricole SA (MTN) 2020/2027 * .........  | EUR | 1 200 000 |  | % | 84,242 | 1 010 904,00 | 0,79 |
| 0,625 % Credit Suisse Group AG (MTN) 2021/2033 ......  | EUR | 2 000 000 | 500 000 | % | 64,716 | 1 294 320,00 | 1,02 |
| 1,00  % Deutsche Bank AG (MTN) 2020/2025 ** .......  | EUR | 1 300 000 | 500 000 | % | 94,419 | 1 227 447,00 | 0,96 |
| 3,25  % Deutsche Bank AG (MTN) 2022/2028 ** .......  | EUR | 500 000 | 500 000 | % | 95,63 | 478 150,00 | 0,38 |
| 3,00  % Deutsche Lufthansa AG (MTN) 2020/2026 ......  | EUR | 1 000 000 |  | % | 84,613 | 846 130,00 | 0,66 |
| 2,25  % DIC Asset AG (MTN) 2021/2026 ..............  | EUR | 700 000 |  | % | 67,532 | 472 724,00 | 0,37 |
| 1,00  % Digital Dutch Finco BV 2020/2032 .............  | EUR | 950 000 |  | % | 71,3 | 677 350,00 | 0,53 |
| 5,00  % doValue SpA -Reg- (MTN) 2020/2025 ..........  | EUR | 500 000 |  | % | 95,444 | 477 220,00 | 0,37 |
| 2,625 % Drax Finco PLC (MTN) 2020/2025 * ...........  | EUR | 803 000 |  | % | 91,736 | 736 640,08 | 0,58 |
| 1,875 % EDP Finance BV (MTN) 2022/2029 ............  | EUR | 400 000 | 400 000 | % | 91,029 | 364 116,00 | 0,29 |
| 3,75  % Elior Group SA (MTN) 2021/2026 * ............  | EUR | 750 000 |  | % | 78,162 | 586 215,00 | 0,46 |
| 0,25  % Enel Finance International NV 2022/2025 .......  | EUR | 1 140 000 | 1 140 000 | % | 92,631 | 1 055 993,40 | 0,83 |
| 4,35  % Fortune Star BVI Ltd 2019/2023 * .............  | EUR | 782 000 |  | % | 78,667 | 615 175,94 | 0,48 |
| 0,875 % Gecina SA (MTN) 2022/2033 * ...............  | EUR | 1 200 000 | 1 200 000 | % | 74,539 | 894 468,00 | 0,70 |
| 3,50  % Getlink SE (MTN) 2020/2025 .................  | EUR | 1 000 000 |  | % | 95,868 | 958 680,00 | 0,75 |
| 0,25  % Goldman Sachs Group, Inc. (MTN) 2021/2028 ...  | EUR | 2 000 000 |  | % | 83,788 | 1 675 760,00 | 1,32 |
| 2,625 % Heimstaden Bostad AB 2021/perpetual ** ...... 0,625 % Holding d‘Infrastructures de Transport SASU (MTN) 2021/2028 ..........................  | EUR EUR | 1 130 000 2 000 000 |  | % % | 51,913 82,887 | 586 616,90 1 657 740,00 | 0,46 1,30 |
| 0,641 % HSBC Holdings PLC (MTN) 2021/2029 ** * .....  | EUR | 2 500 000 |  | % | 82,161 | 2 054 025,00 | 1,61 |
| 1,45 % Iberdrola International BV 2021/perpetual ** ..... 0,90 % Indonesia Government International Bond (MTN) 2020/2027 ..........................  | EUR EUR | 800 000 1 000 000 | 1 000 000 | % % | 83,112 88,449 | 664 896,00 884 490,00 | 0,52 0,69 |
| 1,875 % Infrastrutture Wireless Italiane SpA |  |  |  |  |  |  |  |  |  |
| (MTN) 2020/2026 ..........................  | EUR | 500 000 |  | % | 92,494 | 462 470,00 | 0,36 |
| 0,25  % ING Groep NV (MTN) 2021/2030 ** ...........  | EUR | 900 000 |  | % | 80,242 | 722 178,00 | 0,57 |
| 3,375 % Intertrust Group BV -Reg- (MTN) 2018/2025 .....  | EUR | 500 000 |  | % | 95,261 | 476 305,00 | 0,37 |
| 0,75  % Intesa Sanpaolo SpA (MTN) 2021/2028 .........  | EUR | 780 000 |  | % | 84,868 | 661 970,40 | 0,52 |
| 3,50  % Intrum AB -Reg- (MTN) 2019/2026 * ...........  | EUR | 1 000 000 |  | % | 84,051 | 840 510,00 | 0,66 |
| 0,875 % ISS Global A/S (MTN) 2019/2026 * ............  | EUR | 1 000 000 |  | % | 90,044 | 900 440,00 | 0,71 |
| 2,00  % Koninklijke KPN NV 2019/perpetual ** .........  | EUR | 1 000 000 |  | % | 92,171 | 921 710,00 | 0,72 |
| 0,375 % LEG Immobilien SE (MTN) 2022/2026 ..........  | EUR | 600 000 | 600 000 | % | 88,745 | 532 470,00 | 0,42 |
| 5,75  % Lenzing AG 2020/perpetual ** * ..............  | EUR | 500 000 |  | % | 95,624 | 478 120,00 | 0,38 |
| 0,497 % Morgan Stanley (MTN) 2021/2031 ** ..........  | EUR | 2 000 000 |  | % | 80,034 | 1 600 680,00 | 1,26 |
| 0,163 % National Grid PLC (MTN) 2021/2028 ...........  0,50  % Nationale-Nederlanden Bank NV/ The Netherlands (MTN) 2021/2028 ............  | EUR EUR | 1 000 000 700 000 | 490 000 | % % | 84,967 83,626 | 849 670,00 585 382,00 | 0,67 0,46 |
| 4,125 % Naturgy Finance BV 2014/perpetual ** .........  | EUR | 600 000 |  | % | 98,955 | 593 730,00 | 0,47 |
| 1,043 % NatWest Group PLC (MTN) 2021/2032 ** ......  | EUR | 1 500 000 |  | % | 81,551 | 1 223 265,00 | 0,96 |
| 1,625 % Nexi SpA (MTN) 2021/2026 ..................  | EUR | 650 000 |  | % | 81,697 | 531 030,50 | 0,42 |
| 3,125 % Nokia Oyj (MTN) 2020/2028 ..................  | EUR | 1 000 000 |  | % | 91,533 | 915 330,00 | 0,72 |
| 1,125 % Norsk Hydro ASA (MTN) 2019/2025 ...........  | EUR | 800 000 |  | % | 95,178 | 761 424,00 | 0,60 |
| 0,082 % NTT FINANCE Corp. 2021/2025 ...............  | EUR | 1 000 000 | 1 000 000 | % | 93,043 | 930 430,00 | 0,73 |
| 1,00  % Optus Finance Pty, Ltd (MTN) 2019/2029 .......  | EUR | 1 000 000 |  | % | 87,588 | 875 880,00 | 0,69 |
| 1,375 % Orange SA (MTN) 2021/perpetual ** * .........  | EUR | 1 000 000 |  | % | 74,769 | 747 690,00 | 0,59 |
| 1,50  % Orsted AS 2021/3021 ** ....................  | EUR | 1 250 000 |  | % | 73,658 | 920 725,00 | 0,72 |
| 3,00  % ProGroup AG -Reg- (MTN) 2018/2026 * ........  | EUR | 500 000 |  | % | 88,489 | 442 445,00 | 0,35 |
| 3,078 % Prosus NV -Reg- (MTN) 2020/2028 ............  | EUR | 1 100 000 |  | % | 79,288 | 872 168,00 | 0,69 |
| 0,00  % Prosus NV -Reg- (MTN) 2021/2029 ............  | EUR | 640 000 |  | % | 74,877 | 479 212,80 | 0,38 |
| 2,125 % Rexel SA (MTN) 2021/2028 ..................  2,875 % Romanian Government International Bond (MTN) 2018/2029 ..........................  | EUR EUR | 500 000 1 000 000 |  | % % | 79,185 83,268 | 395 925,00 832 680,00 | 0,31 0,65 |
| 3,125 % Sappi Papier Holding GmbH -Reg- |  |  |  |  |  |  |  |  |  |
| (MTN) 2019/2026 ..........................  | EUR | 1 000 000 | % | 89,093 | 890 930,00 | 0,70 |

| 0,75  % SBB Treasury Oyj (MTN) 2020/2028 ...........  | EUR | 700 000 |  | % | 60,337 | 422 359,00 | 0,33 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 2,375 % Signify NV (MTN) 2020/2027 .................  | EUR | 1 000 000 | 1 000 000 | % | 94,929 | 949 290,00 | 0,75 |
| 0,50  % Smurfit Kappa Treasury ULC (MTN) 2021/2029 . . . | EUR | 1 000 000 | 500 000 | % | 79,818 | 798 180,00 | 0,63 |
| 0,25  % Societe Generale SA (MTN) 2021/2027 .........  | EUR | 2 000 000 |  | % | 87,684 | 1 753 680,00 | 1,38 |
| 5,869 % Solvay Finance SACA 2015/perpetual ** ........  | EUR | 750 000 |  | % | 98,564 | 739 230,00 | 0,58 |
| 1,20  % Standard Chartered PLC (MTN) 2021/2031 ** ...  | EUR | 2 000 000 |  | % | 86,018 | 1 720 360,00 | 1,35 |
| 0,50  % Swiss Life Finance I Ltd (MTN) 2021/2031 ......  | EUR | 750 000 | 750 000 | % | 77,708 | 582 810,00 | 0,46 |
| 0,75 % Takeda Pharmaceutical Co., Ltd (MTN) 2020/2027 2,00  % Techem Verwaltungsgesellschaft 675 mbH -Reg- (MTN) 2020/2025 ..........................  | EUR EUR | 2 000 000 500 000 |  | % % | 90,655 87,939 | 1 813 100,00 439 695,00 | 1,42 0,35 |
| 3,875 % Tele Columbus AG -Reg- (MTN) 2018/2025 * ....  | EUR | 500 000 |  | % | 84,194 | 420 970,00 | 0,33 |
| 2,125 % Tele2 AB (MTN) 2018/2028 ..................  | EUR | 1 000 000 | 1 000 000 | % | 96,255 | 962 550,00 | 0,76 |
| 2,50  % Telecom Italia SpA (MTN) 2017/2023 ..........  | EUR | 1 000 000 |  | % | 99,121 | 991 210,00 | 0,78 |
| 1,625 % Telecom Italia SpA (MTN) 2021/2029 * .........  | EUR | 1 000 000 |  | % | 72,964 | 729 640,00 | 0,57 |
| 2,376 % Telefonica Europe BV 2021/perpetual ** ........  | EUR | 700 000 |  | % | 71,149 | 498 043,00 | 0,39 |
| 0,375 % Terna - Rete Elettrica Nazionale (MTN) 2020/2030 | EUR | 600 000 |  | % | 79,178 | 475 068,00 | 0,37 |
| 0,25  % UBS Group AG (MTN) 2020/2028 ** ...........  | EUR | 1 700 000 |  | % | 84,407 | 1 434 919,00 | 1,13 |
| 2,875 % Unibail-Rodamco-Westfield SE 2018/perpetual ** | EUR | 1 000 000 |  | % | 70,09 | 700 900,00 | 0,55 |
| 2,00  % Veolia Environnement SA 2021/perpetual ** * ...  | EUR | 1 000 000 |  | % | 77,754 | 777 540,00 | 0,61 |
| 3,00  % Vodafone Group PLC 2020/2080 ** * ..........  | EUR | 1 000 000 |  | % | 76,069 | 760 690,00 | 0,60 |
| 0,375 % Vonovia SE (MTN) 2021/2027 ................  | EUR | 700 000 |  | % | 84,165 | 589 155,00 | 0,46 |
| 0,00  % Vonovia SE (MTN) 2021/2025 ................  | EUR | 500 000 |  | % | 88,933 | 444 665,00 | 0,35 |
| 5,875 % Webuild SpA (MTN) 2020/2025 ...............  | EUR | 1 000 000 |  | % | 91,623 | 916 230,00 | 0,72 |
| 0,766 % WESTPAC BANKING Corp. (MTN) 2021/2031 ** . | EUR | 860 000 |  | % | 87,641 | 753 712,60 | 0,59 |
| 2,75  % Wienerberger AG (MTN) 2020/2025 * ..........  | EUR | 800 000 |  | % | 96,616 | 772 928,00 | 0,61 |
| 2,10 % Airport Authority 2020/perpetual ** ............ 2,57 % Australia & New Zealand Banking Group Ltd -Reg- 2020/2035 ** ................  | USD USD | 1 000 000 2 500 000 |  | % % | 90,879 80,229 | 872 536,55 1 925 712,62 | 0,69 1,51 |
| 3,125 % Banco de Credito del Peru SA -Reg- |  |  |  |  |  |  |  |
| (MTN) 2020/2030 ** .......................  | USD | 1 000 000 | % | 91,411 | 877 644,32 | 0,69 |
| 2,704 % Banco del Estado de Chile -Reg- (MTN) 2020/2025 5,375 % Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand -Reg- (MTN) 2020/2025 * ........................  | USD USD | 1 000 000 500 000 | % % | 95,041 100,525 | 912 496,24 482 574,28 | 0,72 0,38 |
| 4,25  % Banistmo SA -Reg- (MTN) 2020/2027 ..........  4,50 % Colombia Government International Bond 2018/2029 ...............................  | USD USD | 1 000 000 1 500 000 | % % | 93,554 85,83 | 898 219,44 1 236 091,05 | 0,71 0,97 |
| 4,95  % Colombia Telecomunicaciones SA ESP -Reg- |  |  |  |  |  |  |  |
| (MTN) 2020/2030 ..........................  | USD | 500 000 | % | 79,096 | 379 703,51 | 0,30 |
| 3,348 % Comision Federal de Electricidad -Reg- |  |  |  |  |  |  |  |
|  | (MTN) 2021/2031 * ........................  | USD | 605 000 |  | % | 76,741 | 445 761,87 | 0,35 |
| 4,00 | % Dell International LLC Via EMC Corp. 2021/2024 . | USD | 1 000 000 |  | % | 99,788 | 958 072,57 | 0,75 |
| 6,00 | % Dominican Republic International Bond -Reg- (MTN) 2018/2028 ..........................  | USD | 500 000 | 500 000 | % | 92,853 | 445 744,54 | 0,35 |
| 1,30 | % Ecolab, Inc. 2020/2031 ......................  | USD | 1 500 000 |  | % | 80,179 | 1 154 707,49 | 0,91 |
| 6,125 | % Gold Fields Orogen Holdings BVI Ltd -Reg- (MTN) 2019/2029 ..........................  | USD | 1 000 000 |  | % | 100,932 | 969 056,21 | 0,76 |
| 1,75 | % Hewlett Packard Enterprise Co. (MTN) 2020/2026 | USD | 1 000 000 |  | % | 91,256 | 876 156,16 | 0,69 |
| 2,65 | % HP, Inc. (MTN) 2022/2031 ...................  | USD | 1 000 000 | 1 000 000 | % | 80,119 | 769 228,93 | 0,60 |
| 1,75 | % Johnson Controls International Plc Via Tyco Fire & Security Finance SCA (MTN) 2020/2030 ........  | USD | 1 000 000 |  | % | 81,616 | 783 601,75 | 0,62 |
| 3,05 | % Meituan -Reg- (MTN) 2020/2030 * ............  | USD | 1 000 000 |  | % | 75,175 | 721 761,19 | 0,57 |
| 5,65 | % Network i2i Ltd -Reg- 2019/perpetual ** ........  | USD | 500 000 |  | % | 92,975 | 446 330,21 | 0,35 |
| 6,10 | % Paraguay Government International Bond -Reg- 2014/2044 ...............................  | USD | 500 000 |  | % | 86,935 | 417 334,95 | 0,33 |
| 3,75 | % Promigas SA ESP Via Gases del Pacifico SAC -144A- (MTN) 2019/2029 .........  | USD | 500 000 |  | % | 81,272 | 390 149,49 | 0,31 |
| 2,375 | % SK Hynix, Inc. -Reg- (MTN) 2021/2031 .........  | USD | 1 500 000 |  | % | 78,898 | 1 136 259,02 | 0,89 |
| 2,142 | % Sumitomo Mitsui Financial Group, Inc. (MTN) 2020/2030 ......................  | USD | 1 000 000 |  | % | 80,436 | 772 272,47 | 0,61 |
| 4,375 | % SURA Asset Management SA -Reg- |  |  |  |  |  |  |  |
| (MTN) 2017/2027 ..........................  | USD | 500 000 |  | % | 95,292 | 457 453,06 | 0,36 |
| 1,15  % TJX Cos, Inc. (MTN) 2020/2028 ...............  | USD | 1 000 000 |  | % | 84,82 | 814 363,61 | 0,64 |
| 1,00  % TSMC Global Ltd -Reg- (MTN) 2020/2027 .......  | USD | 1 500 000 |  | % | 86,182 | 1 241 160,42 | 0,98 |
| 0,125 % United States Treasury Note/Bond 2020/2022 ... 1,375 % United States Treasury Note/Bond (MTN) 2021/2031 ..........................  | USD USD | 4 000 000 6 000 000 | 4 000 000 6 000 000 | % % | 98,799 86,641 | 3 794 320,47 4 991 061,43 | 2,98 3,92 |
| 0,00 | % United States Treasury Note/Bond – |  |  |  |  |  |  |  |
| When Issued (MTN) 2021/2026 ...............  | USD | 4 000 000 | 4 000 000 | % | 91,984 | 3 532 597,37 | 2,78 |
| 4,50  % UPL Corp., Ltd (MTN) 2018/2028 .............  | USD | 500 000 |  | % | 85,439 | 410 153,34 | 0,32 |
| 1,75  % Verizon Communications, Inc. 2020/2031 .......  | USD | 1 000 000 |  | % | 80,355 | 771 494,78 | 0,61 |
| 1,10  % Visa, Inc. 2020/2031 ........................  | USD | 1 000 000 |  | % | 79,889 | 767 020,68 | 0,60 |
| 1,40  % VMware, Inc. (MTN) 2021/2026 ...............  | USD | 1 000 000 | 1 000 000 | % | 88,469 | 849 397,95 | 0,67 |
| An organisierten Märkten zugelassene oder in diese einbezogene Wertpapiere |  |  |  | 0,06 | 0,00 |
| Verzinsliche Wertpapiere 2,185 % RESIMAC Premier Series 2017-2 2017/2049 ** ..	AUD | 0 | % | 99,984 | 0,05 | 0,00 |
| 1,00  % FROSN-2018 DAC (MTN) 2018/2028 **	EUR | 0 | % | 98,566 | 0,01 | 0,00 |
| Summe Wertpapiervermögen |  |  |  | 117 847 046,45 | 92,63 |

| Derivate (Bei den mit Minus gekennzeichneten Beständen handelt es sich um verkaufte Positionen) |  |
| --- | --- |
| Zins-Derivate Forderungen/Verbindlichkeiten |  |  | -1 097 745,83 | -0,86 |
| Zinsterminkontrakte Euro BTP Futures 09/2022 (DB) .......................	Stück	-116 |  | 116 | -328 130,03 | -0,26 |
| Euro Buxl Futures 09/2022 (DB) ......................	Stück	19 | 19 |  | 163 480,01 | 0,13 |
| Euro SCHATZ Futures 09/2022 (DB) ...................	Stück	-297 | 629 | 926 | -260 134,89 | -0,20 |
| Germany Federal Republic Bonds 5 year 09/2022 (DB) .....	Stück	-223 | 223 | 446 | -392 150,05 | -0,31 |
| Germany Federal Republic Notes 10 year 09/2022 (DB) ....	Stück	-46 | 49 | 95 | -79 450,00 | -0,06 |
| Japan 10 year Bond Futures 09/2022 (DB) ..............	Stück	-9 |  | 9 | -53 969,22 | -0,04 |
| US Treasury Notes 10 year Futures 09/2022 (DB) .........	Stück	-150 | 189 | 339 | -147 391,65 | -0,12 |
| Devisen-Derivate Forderungen/Verbindlichkeiten |  |  | -677 360,54 | -0,53 |
| Devisentermingeschäfte |  |  |  |  |
| Devisentermingeschäfte (Kauf) |  |  |  |  |
| Offene Positionen CHF/EUR 0,2 Mio. .................................  |  |  | 3 883,06 | 0,01 |
| GBP/EUR 0,1 Mio. .................................  |  |  | 368,18 | 0,00 |
| SEK/EUR 31,6 Mio. ................................  |  |  | -10 615,58 | -0,01 |
| Geschlossene Positionen USD/EUR 0,3 Mio. .................................  |  |  | -275,21 | 0,00 |
| Devisentermingeschäfte (Verkauf) |  |  |  |  |
| Offene Positionen EUR/USD 42,2 Mio. ................................  |  |  | -670 720,99 | -0,53 |
| Bankguthaben |  |  | 10 397 330,69 | 8,17 |
| Verwahrstelle (täglich fällig) EUR-Guthaben	EUR |  |  | 4 416 155,35 | 3,47 |
| Guthaben in sonstigen EU/EWR-Währungen |  |  |  |  |
| Schwedische Kronen ...............................	SEK	3 290 375 |  |  | 307 211,27 | 0,24 |
| Guthaben in Nicht-EU/EWR-Währungen |  |  |  |  |
| Australischer Dollar ................................	AUD	96 285 |  |  | 63 809,60 | 0,05 |
| Britisches Pfund ...................................	GBP	27 385 |  |  | 31 976,08 | 0,02 |
| Japanischer Yen ...................................	JPY	27 691 498 |  |  | 195 613,65 | 0,15 |
| Kanadischer Dollar .................................	CAD	79 227 |  |  | 58 991,52 | 0,05 |
| Mexikanischer Peso ................................	MXN	228 615 |  |  | 10 859,36 | 0,01 |
| Neuseeländischer Dollar .............................	NZD	1 836 |  |  | 1 099,80 | 0,00 |
| Schweizer Franken .................................	CHF	95 685 |  |  | 96 120,81 | 0,08 |
| US-Dollar ........................................	USD	5 432 194 |  |  | 5 215 493,25 | 4,10 |
| Sonstige Vermögensgegenstände |  |  | 903 589,00 | 0,71 |
| Zinsansprüche .....................................  |  |  | 779 088,61 | 0,61 |
| Forderungen aus der Überschreitung des „Expense Cap“ ..  |  |  | 116 978,40 | 0,09 |
| Sonstige Ansprüche ................................  |  |  | 7 521,99 | 0,01 |
| Forderungen aus Anteilscheingeschäften |  |  | 8 042,16 | 0,01 |
| Summe der Vermögensgegenstände *** |  |  | 129 323 739,55 | 101,66 |
| Sonstige Verbindlichkeiten |  |  | -154 278,68 | -0,12 |
| Verbindlichkeiten aus Kostenpositionen ................  |  |  | -154 278,68 | -0,12 |
| Verbindlichkeiten aus Anteilscheingeschäften |  |  | -8 753,57 | -0,01 |
| Summe der Verbindlichkeiten |  |  | -2 105 869,87 | -1,66 |
| Fondsvermögen |  |  | 127 217 869,68 | 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 LCH ...................................  | CHF | 81,06 |
| Klasse FC ........................................  | EUR | 99,25 |
| Klasse FD ........................................  | EUR | 75,73 |
| Klasse IC .........................................  | EUR | 87,69 |
| Klasse LC ........................................  | EUR | 85,54 |
| Klasse LD ........................................  | EUR | 76,11 |
| Klasse NC ........................................  | EUR | 82,05 |
| Klasse NDQ ......................................  | EUR | 77,62 |
| Klasse PFDQ .....................................  | EUR | 78,99 |
| Klasse TFC .......................................  | EUR | 85,32 |
| Klasse TFD .......................................  | EUR | 78,86 |
| Klasse GBP CH RD .................................  | GBP | 92,15 |
| Klasse GBP DH RD ................................  | GBP | 80,87 |
| Klasse GBP IDH ...................................  | GBP | 80,87 |
| Klasse SEK LCH ...................................  | SEK | 857,00 |
| Klasse TFCH ......................................  | USD | 93,25 |
| Klasse USD FCH ..................................  | USD | 98,03 |
| Klasse USD LCH ..................................  | USD | 95,31 |
| Umlaufende Anteile Klasse CHF LCH ...................................  | Stück | 2 564,612 |
| Klasse FC ........................................  | Stück | 69 542,608 |
| Klasse FD ........................................  | Stück | 6 147,000 |
| Klasse IC .........................................  | Stück | 1 075 944,000 |
| Klasse LC ........................................  | Stück | 65 813,615 |
| Klasse LD ........................................  | Stück | 136 669,750 |
| Klasse NC ........................................  | Stück | 55 879,552 |
| Klasse NDQ ......................................  | Stück | 17 479,000 |
| Klasse PFDQ .....................................  | Stück | 108,000 |
| Klasse TFC .......................................  | Stück | 20,279 |
| Klasse TFD .......................................  | Stück | 20,000 |
| Klasse GBP CH RD .................................  | Stück | 122,110 |
| Klasse GBP DH RD ................................  | Stück | 371,000 |
| Klasse GBP IDH ...................................  | Stück | 90,000 |
| Klasse SEK LCH ...................................  | Stück | 36 831,000 |
| Klasse TFCH ......................................  | Stück | 24,000 |
| Klasse USD FCH ..................................  | Stück | 2 350,000 |
| Klasse USD LCH ..................................  | Stück | 921,000 |

Darstellung der Maximalgrenze (gem. CSSF-Rundschreiben 11/512) 14,14% vom Portfoliowert
Potenzieller Risikobetrag für das Marktrisiko (gem. CSSF-Rundschreiben 11/512)
| kleinster potenzieller Risikobetrag .....................  | % | 0,810 |
| --- | --- | --- |
| größter potenzieller Risikobetrag ......................  | % | 2,954 |
| durchschnittlicher potenzieller Risikobetrag ..............  | % | 1,735 |

Die Risikokennzahlen wurden für den Zeitraum vom 1.1.2022 bis 30.6.2022 auf Basis der Methode der historischen Simulation mit den Parametern 99% Konfidenzniveau, 10 Tage Haltedauer unter Verwendung eines effektiven, historischen Beobachtungszeitraumes von einem Jahr berechnet. Als Bewertungsmaßstab wird das Risiko eines derivatefreien Vergleichsvermögens herangezogen. Unter dem Marktrisiko versteht man das Risiko, das sich aus der ungünstigsten Entwicklung von Marktpreisen für das Fondsvermögen ergibt. Bei der Ermittlung des Marktrisikopotenzials wendet die Gesellschaft den absoluten Value at Risk-Ansatzim Sinne des CSSF-Rundschreibens 11/512 an.
Die durchschnittliche Hebelwirkung aus der Nutzung von Derivaten betrug im Berichtszeitraum 0,7, wobei zur Berechnung die Summe der Nominalbeträge der Derivate in Relation zum Fondsvermögen gesetzt wurde (Nominalwertmethode).
Das durch Derivate erzielte zugrunde liegende Exposure gem. Punkt 40 a) der „Leitlinien zu börsengehandelten Indexfonds und anderen OGAW-Themen“ der European Securities and Markets Authority (ESMA) belief sich zum Berichtsstichtag unter Zugrundelegung einer Bruttobetrachtung auf EUR 108 865 782,07. Ohne Berücksichtigung gegebenenfalls auf Ebene von Anteilklassen zum Zwecke der Währungsabsicherung abgeschlossener Devisentermingeschäfte.
 Marktschlüssel	 Terminbörsen
DB = Deutsche Bank AG Frankfurt
Vertragspartner der Devisentermingeschäfte
Barclays Bank Ireland PLC, HSBC France, Royal Bank of Canada (UK) und State Street Bank International GmbH

####  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 |
| --- | --- | --- | --- | --- |
| 0,00 | % ABB Finance BV (MTN) 2021/2030	EUR | 600 000 | 482 898,00 |
| 3,00 | % Accor SA (MTN) 2019/2026	EUR | 500 000 | 459 865,00 |
| 0,00 | % Bundesobligation (MTN) 2020/2025	EUR | 5 000 000 | 4 862 650,00 |
| 0,00 | % Bundesrepublik Deutschland Bundesanleihe |  |  |
|  | (MTN) 2022/2032	EUR | 6 000 000 | 5 260 200,00 |
| 0,555 | % Chile Government International Bond |  |  |
|  | (MTN) 2021/2029	EUR | 500 000 | 413 230,00 |
| 0,125 | % Credit Agricole SA (MTN) 2020/2027	EUR | 700 000 | 589 694,00 |
| 2,625 | % Drax Finco PLC (MTN) 2020/2025	EUR | 600 000 | 550 416,00 |
| 3,75 | % Elior Group SA (MTN) 2021/2026	EUR | 600 000 | 468 972,00 |
| 4,35 | % Fortune Star BVI Ltd 2019/2023	EUR | 600 000 | 472 002,00 |
| 0,875 | % Gecina SA (MTN) 2022/2033	EUR | 1 200 000 | 894 468,00 |
| 0,641 | % HSBC Holdings PLC (MTN) 2021/2029 **	EUR | 1 000 000 | 821 610,00 |
| 3,50 | % Intrum AB -Reg- (MTN) 2019/2026	EUR | 500 000 | 420 255,00 |
| 0,875 | % ISS Global A/S (MTN) 2019/2026	EUR | 1 000 000 | 900 440,00 |
| 5,75 | % Lenzing AG 2020/perpetual **	EUR | 200 000 | 191 248,00 |
| 1,375 | % Orange SA (MTN) 2021/perpetual **	EUR | 1 000 000 | 747 690,00 |
| 3,00 | % ProGroup AG -Reg- (MTN) 2018/2026	EUR | 500 000 | 442 445,00 |
| 3,875 | % Tele Columbus AG -Reg- (MTN) 2018/2025	EUR | 500 000 | 420 970,00 |
| 1,625 | % Telecom Italia SpA (MTN) 2021/2029	EUR | 300 000 | 218 892,00 |
| 2,00 | % Veolia Environnement SA 2021/perpetual **	EUR | 500 000 | 388 770,00 |
| 3,00 | % Vodafone Group PLC 2020/2080 **	EUR | 200 000 | 152 138,00 |
| 2,75 | % Wienerberger AG (MTN) 2020/2025	EUR | 500 000 | 483 080,00 |
| 5,375 | % Banco Santander Mexico SA Institucion de |  |  |
|  | Banca Multiple Grupo Financiero Santand -Reg- |  |  |
|  | (MTN) 2020/2025	USD | 500 000 | 482 574,28 |
| 3,348 | % Comision Federal de Electricidad -Reg- |  |  |
|  | (MTN) 2021/2031	USD | 600 000 | 442 077,89 |
| 3,05 | % Meituan -Reg- (MTN) 2020/2030	USD | 1 000 000 | 721 761,19 |

Gesamtbetrag der Rückerstattungsansprüche aus Wertpapier-Darlehen	21 288 346,36	21 288 346,36 Vertragspartner der Wertpapier-Darlehen
Barclays Bank Ireland PLC FI, BNP Paribas Arbitrage SNC, BNP Paribas S.A., Crédit Suisse Securities Sociedad de Valores S.A. FI, Deutsche Bank AG FI, Goldman Sachs Bank Europe SE EQ, J.P. Morgan AG EQ, J.P. Morgan AG FI, Morgan Stanley Europe SE FI, Nomura Financial Products Europe GmbH
| Gesamtbetrag der bei Wertpapier-Darlehen von Dritten gewährten Sicherheiten | EUR | 22 719 536,28 |
| --- | --- | --- |
| davon: |  |  |
| Schuldverschreibungen | EUR | 10 497 611,35 |
| Aktien | EUR | 12 221 924,93 |

 Devisenkurse (in Mengennotiz)	
per 30.6.2022
| Australischer Dollar	AUD | 1,508945 | = EUR | 1 |
| --- | --- | --- | --- |
| Kanadischer Dollar	CAD | 1,343026 | = EUR | 1 |
| Schweizer Franken	CHF | 0,995461 | = EUR | 1 |
| Britisches Pfund	GBP | 0,856432 | = EUR | 1 |
| Japanischer Yen	JPY | 141,562199 | = EUR | 1 |
| Mexikanischer Peso	MXN | 21,052319 | = EUR | 1 |
| Neuseeländischer Dollar	NZD | 1,669016 | = EUR | 1 |
| Schwedische Kronen	SEK | 10,710462 | = EUR | 1 |
| US-Dollar	USD | 1,041549 | = EUR | 1 |

 Erläuterungen zur Bewertung	
Die Anteilwerte werden in Verantwortung des Verwaltungsrats der SICAV durch die Verwaltungsgesellschaft ermittelt sowie die Bewertung der Vermögenswerte des Fondsvermögens durchgeführt. Die grundsätzliche Kursversorgung sowie die Preisvalidierung erfolgen nach den vom Verwaltungsrat der SICAV auf der Grundlage der in den gesetzlichen Bestimmungen/ Verordnungen bzw. im Prospekt der SICAV definierten Grundsätze für Bewertungsmethoden eingeführten Verfahren.
Sofern keine handelbaren Kurse vorliegen, werden Bewertungsmodelle zur Preisermittlung (abgeleitete Verkehrswerte) genutzt, die zwischen State Street Bank International GmbH, Luxembourg Branch, als externem Price Service Provider und der Verwaltungsgesellschaft abgestimmt sind und sich so weit als möglich auf Marktparameter stützen. Diese Vorgehensweise unterliegt einem permanenten Kontrollprozess. Preisauskünfte Dritter werden durch andere Preisquellen, modellhafte Rechnungen oder durch andere geeignete Verfahren auf Plausibilität geprüft.
Die in diesem Bericht ausgewiesenen Vermögenswerte werden nicht zu abgeleiteten Verkehrswerten bewertet.
 Fußnoten	
* Diese Wertpapiere sind ganz oder teilweise verliehen.
** Variabler Zinssatz.
*** Beinhaltet, sofern vorhanden, keine Positionen mit negativem Bestand.