# DWS Invest Asian Bonds
DWS INVEST ASIAN BONDS

### Performance of share classes vs. benchmark (in USD)
| Share class | ISIN | 6 months |
| --- | --- | --- |
| Class USD FC | LU0813325502 | -0.4% |
| Class USD FC50 | LU1949850538 | -0.3% |
| Class USD IC | LU1589659504 | -0.3% |
| Class USD IC100 | LU1589658522 | -0.1% |
| Class USD LC | LU0813325411 | -0.6% |
| Class USD LDM | LU1525638091 | -0.6% |
| Class USD TFC | LU1663839352 | -0.4% |
| Class USD TFDM | LU1951361812 | -0.4% |
| Class USD XC | LU1589658878 | -0.2% |
| Class AUD LDMH 1 | LU1880859548 | -1.5% |
| Class CHF LCH 2 | LU2004370479 | -2.2% |
| Class CHF TFCH 2 | LU2004370636 | -1.9% |
| Class RMB FCH350 3 | LU1968688793 | 0.1% |
| Class RMB FCH700 3 | LU1968688520 | 0.5% |
| Class FCH 4 | LU0813324794 | -1.7% |
| Class FCH100 4 | LU2022029008 | -1.6% |
| Class IDH 4 | LU1796233663 | -1.6% |
| Class LCH 4 | LU0813324364 | -2.3% |
| Class LDH 4 | LU0813324521 | -1.8% |
| Class LDMH 4 | LU1880859894 | -1.9% |
| Class NCH 4 | LU1914384000 | -2.1% |
| Class TFCH 4 | LU1663839196 | -1.7% |
| Class TFDH 4 | LU1663839279 | -1.7% |
| Class TFDMH 4 | LU1880860041 | -1.7% |
| Class GBP TFDMH 5 | LU2079148602 | -1.6% |
| Class HKD LDM 6 | LU1769795342 | -1.1% |
| Class HKD LDMH 6 | LU1805360861 | -0.6% |
| Class HKD TFDMH 6 | LU1880859621 | -0.3% |
| Class SGD LDM 7 | LU1769795698 | 2.8% |
| Class SGD LDMH 7 | LU1805361083 | -1.0% |
| Class SGD TFDMH 7 | LU1880859977 | -0.7% |


##### JP Morgan Asian Credit Index	2.3%
1 
in AUD
2 
in CHF
3 
in CNY
4 
in EUR
5 
in GBP
6 
in HKD
7 
in SGD
“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 Asian Bonds
| Statement of net assets as of June 30, 2020 |  |
| --- | --- |
|  | Amount in USD | % of net assets |
| I. Assets |  |  |
| 1. Bonds (issuers) Companies | 1 381 739 734.27 | 78.96 |
| Central governments | 321 147 381.85 | 18.36 |
| Total bonds | 1 702 887 116.12 | 97.32 |
| 2. Derivatives | -2 918 143.37 | - 0.17 |
| 3. Cash at bank | 53 393 029.48 | 3.05 |
| 4. Other assets | 20 872 218.73 | 1.19 |
| 5. Receivables from share certificate transactions | 21 979 908.13 | 1.26 |
| II. Liabilities |  |  |
| 1. Other liabilities | -17 401 906.20 | - 0.99 |
| 2. Liabilities from share certificate transactions | -28 971 748.97 | - 1.66 |
| III. Net assets | 1 749 840 473.92 | 100.00 |
| Negligible rounding errors may have arisen due to the rounding of calculated percentages. |  |  |

| Investment portfolio – June 30, 2020 |  |
| --- | --- |
|  | Count/ | Quantity/ | Purchases/ | Sales/ |  | Market price | Total market | % of |
| Security name | units/ currency | principal amount | additions in the | disposals reporting period |  |  | value in USD | net assets |
| Securities traded on an exchange |  |  |  |  |  |  | 1 270 441 822.99 | 72.60 |
| Interest-bearing securities 2.50 % Abu Dhabi Government International Bond -Reg- (MTN) 2020/2025 ..........................  | USD | 9 580 000 | 9 580 000 |  | % | 105.28 | 10 085 871.90 | 0.58 |
| 3.949 % Adani Electricity Mumbai Ltd -Reg- (MTN) 2020/2030 ................................  | USD | 10 000 000 | 10 000 000 |  | % | 93.796 | 9 379 550.00 | 0.54 |
| 4.25  % Adani Transmission Ltd -Reg- 2019/2036 ........  | USD | 4 477 500 |  | 22 500 | % | 96.756 | 4 332 272.29 | 0.25 |
| 11.50 % Alam Synergy Pte Ltd 2019/2021 ..............  | USD | 1 935 897 |  | 4 564 103 | % | 73.55 | 1 423 852.13 | 0.08 |
| 7.25  % Asahi Mutual Life Insurance Co. 2017/perpetual * . | USD | 29 220 000 |  | 3 500 000 | % | 105.376 | 30 791 013.30 | 1.76 |
| 6.50  % Asahi Mutual Life Insurance Co. 2018/perpetual * . | USD | 42 700 000 |  | 2 000 000 | % | 106.394 | 45 430 238.00 | 2.60 |
| 5.50  % Azure Power Energy Ltd -Reg- (MTN) 2017/2022. . 5.65 % Azure Power Solar Energy Pvt Ltd -Reg- (MTN) 2019/2024 ................................  | USD USD | 33 600 000 4 000 000 | 6 000 000 | 1 000 000 | % % | 101.034 101.062 | 33 947 592.00 4 042 480.00 | 1.94 0.23 |
| 4.05  % Bangkok Bank PCL/Hong Kong -Reg- (MTN) 2018/2024 ................................  | USD | 800 000 |  |  | % | 108.283 | 866 264.00 | 0.05 |
| 4.375 % Bharat Petroleum Corp., Ltd (MTN) 2019/2022 ...  | USD | 3 000 000 |  |  | % | 102.076 | 3 062 280.00 | 0.17 |
| 7.50  % China Aoyuan Group Ltd 2018/2021 ............  | USD | 2 250 000 | 2 000 000 |  | % | 101.566 | 2 285 246.25 | 0.13 |
| 7.95  % China Aoyuan Group Ltd 2018/2021 ............  | USD | 7 900 000 | 2 400 000 | 4 500 000 | % | 102.267 | 8 079 093.00 | 0.46 |
| 8.50  % China Aoyuan Group Ltd 2019/2022 ............  | USD | 15 500 000 | 8 000 000 |  | % | 103.42 | 16 030 177.50 | 0.92 |
| 4.80 % China Aoyuan Group Ltd 2020/2021 ............ 1.875 % CK Hutchison International 16 Ltd -Reg- (MTN) 2016/2021 ................................  | USD USD | 8 650 000 4 000 000 | 8 650 000 4 000 000 |  | % % | 99.575 100.601 | 8 613 237.50 4 024 040.00 | 0.49 0.23 |
| 3.609 % CMT MTN Pte Ltd (MTN) 2019/2029 ...........  7.25 % Country Garden Holdings Co., Ltd -Reg- (MTN) 2013/2021 ................................  | USD USD | 3 500 000 2 000 000 | 2 000 000 |  | % % | 106.477 100.828 | 3 726 695.00 2 016 560.00 | 0.21 0.12 |
| 7.50  % Eterna Capital Pte Ltd (MTN) 2017/2022 ........  | USD | 77 764 583 |  | 886 005 | % | 55.673 | 43 293 534.13 | 2.47 |
| 2.50  % Export-Import Bank of Korea (MTN) 2015/2021 ...  | USD | 5 000 000 | 5 000 000 | 1 450 000 | % | 101.48 | 5 074 000.00 | 0.29 |
| 2.875 % Export-Import Bank of Korea (MTN) 2015/2025 ...  | USD | 10 000 000 |  |  | % | 108.522 | 10 852 200.00 | 0.62 |
| 2.375 % Export-Import Bank of Korea (MTN) 2019/2024 ** | USD | 16 800 000 |  |  | % | 105.62 | 17 744 076.00 | 1.01 |
| 2.191 % Export-Import Bank of Korea 2020/2023 * .......  | USD | 5 150 000 | 5 150 000 |  | % | 101.46 | 5 225 190.00 | 0.30 |
| 5.75  % FWD Group Ltd (MTN) 2019/2024 .............  5.125 % Gold Fields Orogen Holdings BVI Ltd -Reg- (MTN) 2019/2024 ................................  | USD USD | 5 000 000 3 500 000 |  | 2 000 000 | % % | 101.789 107.629 | 5 089 450.00 3 767 015.00 | 0.29 0.22 |
| 6.125 % Gold Fields Orogen Holdings BVI Ltd -Reg- (MTN) 2019/2029 ................................  | USD | 2 000 000 |  |  | % | 114.318 | 2 286 370.00 | 0.13 |
| 4.875 % Greenko Dutch BV -Reg- (MTN) 2017/2022 **....  5.55 % Greenko Solar Mauritius Ltd -Reg- (MTN) 2019/2025 ................................  | USD USD | 13 450 000 9 000 000 | 850 000 | 4 000 000 2 000 000 | % % | 99.17 98.438 | 13 338 297.75 8 859 375.00 | 0.76 0.51 |
| 3.00  % GS Caltex Corp. -Reg- (MTN) 2019/2024 ........  3.875 % Hanwha Total Petrochemical Co., Ltd (MTN) 2019/2024 ................................  | USD USD | 11 600 000 1 950 000 |  |  | % % | 104.904 107.077 | 12 168 806.00 2 088 001.50 | 0.70 0.12 |
| 3.00  % Harvest Operations Corp. -Reg- (MTN) 2017/2022 . | USD | 2 000 000 | 2 000 000 |  | % | 104.618 | 2 092 360.00 | 0.12 |
| 4.20  % Harvest Operations Corp. -Reg- (MTN) 2018/2023 . | USD | 3 000 000 | 3 000 000 |  | % | 109.074 | 3 272 205.00 | 0.19 |
| 2.75  % HPHT Finance 17 Ltd (MTN) 2017/2022 .........  | USD | 44 500 000 |  |  | % | 101.848 | 45 322 360.00 | 2.59 |
| 2.875 % HPHT Finance 19 Ltd (MTN) 2019/2024 .........  7.00 % HT Global IT Solutions Holdings Ltd -Reg- (MTN) 2016/2021 ................................  | USD USD | 4 350 000 35 176 000 | 6 425 000 | 20 000 000 | % % | 103.208 98.899 | 4 489 569.75 34 788 712.24 | 0.26 1.99 |
| 4.75  % Indian Oil Corp., Ltd (MTN) 2019/2024 ..........  3.73 % Indian Railway Finance Corp., Ltd (MTN) 2019/2024 ................................  | USD USD | 10 000 000 3 000 000 |  |  | % % | 105.43 105.06 | 10 543 000.00 3 151 815.00 | 0.60 0.18 |
| 6.875 % Indika Energy Capital II Pte Ltd -Reg- (MTN) |  |  |  |  |  |  |  |  |
| 2017/2022 ................................  | USD | 31 700 000 | 15 500 000 | % | 97.264 | 30 832 529.50 | 1.76 |
| 5.71  % Indonesia Asahan Aluminium Persero PT -Reg- |  |  |  |  |  |  |  |  |
| (MTN) 2018/2023 ..........................  | USD | 5 600 000 | % | 108.936 | 6 100 416.00 | 0.35 |
| 4.75  % Indonesia Asahan Aluminium Persero PT -Reg- |  |  |  |  |  |  |  |  |
| (MTN) 2020/2025 ..........................  | USD | 6 850 000 | 6 850 000 | % | 107.308 | 7 350 632.25 | 0.42 |
| 5.125 % Industrial & Commercial Bank of China Asia Ltd (MTN) 2010/2020 ..........................  | USD | 1 000 000 | 1 000 000 |  | % | 101.579 | 1 015 790.00 | 0.06 |
| 2.125 % Industrial Bank of Korea -Reg- (MTN) 2019/2024 ..  | USD | 4 000 000 |  |  | % | 104.818 | 4 192 740.00 | 0.24 |
| 6.50 % Jababeka International BV -Reg- (MTN) 2016/2023 . 5.50  % Japfa Comfeed Indonesia Tbk PT (MTN) 2017/2022 ................................  | USD USD | 21 000 000 21 700 000 |  | 1 500 000 | % % | 82.984 99.781 | 17 426 745.00 21 652 477.00 | 1.00 1.24 |
| 11.75 % Kaisa Group Holdings Ltd 2019/2021 ...........  | USD | 3 306 000 |  |  | % | 103.036 | 3 406 386.69 | 0.19 |
| 7.875 % Kaisa Group Holdings Ltd 2020/2021 ...........  | USD | 4 000 000 | 9 000 000 | 5 000 000 | % | 100.472 | 4 018 880.00 | 0.23 |
| 6.75  % Kaisa Group Holdings Ltd. 2020/2021...........  | USD | 7 000 000 | 8 000 000 | 1 000 000 | % | 99.945 | 6 996 150.00 | 0.40 |
| 1.75  % Kookmin Bank -Reg- (MTN) 2020/2025..........  | USD | 5 200 000 | 5 200 000 |  | % | 102.321 | 5 320 692.00 | 0.30 |
| 2.125 % Korea Development Bank/The (MTN) 2019/2024 ..  | USD | 17 800 000 |  | 5 000 000 | % | 104.946 | 18 680 477.00 | 1.07 |
| 1.75  % Korea Development Bank/The (MTN) 2020/2025 ..  | USD | 7 800 000 | 9 800 000 | 2 000 000 | % | 103.586 | 8 079 669.00 | 0.46 |
| 1.25  % Korea Development Bank/The (MTN) 2020/2025 ..  1.75 % Korea East-West Power Co., Ltd -Reg- (MTN) 2020/2025 ................................  | USD USD | 10 000 000 3 750 000 | 10 000 000 3 750 000 |  | % % | 101.324 103.076 | 10 132 350.00 3 865 331.25 | 0.58 0.22 |
| 1.125 % Korea Electric Power Corp. -Reg- (MTN) 2020/2025 | USD | 4 150 000 | 4 150 000 |  | % | 100.402 | 4 166 683.00 | 0.24 |
| 2.25  % Korea Gas Corp. -Reg- (MTN) 2016/2026 ........  | USD | 1 700 000 | 1 700 000 |  | % | 106.644 | 1 812 956.50 | 0.10 |
| 2.75  % Korea Gas Corp. -Reg- (MTN) 2017/2022 ........  | USD | 400 000 | 400 000 |  | % | 103.948 | 415 794.00 | 0.02 |
| 3.125 % Korea Gas Corp. -Reg- (MTN) 2017/2027 ........  2.00 % Korea Housing Finance Corp. -Reg- (MTN) 2016/2021 ................................  | USD USD | 2 000 000 1 885 000 | 1 885 000 |  | % % | 110.014 101.522 | 2 200 290.00 1 913 689.70 | 0.13 0.11 |
| 2.875 % Korea National Oil Corp. -Reg- (MTN) 2017/2022 ..  | USD | 8 100 000 | 8 100 000 |  | % | 103.422 | 8 377 222.50 | 0.48 |
| 9.85  % KWG Group Holdings Ltd 2018/2020 ...........  | USD | 3 000 000 | 3 000 000 |  | % | 101.982 | 3 059 445.00 | 0.17 |

| 5.30  % Marble II Pte Ltd -Reg- (MTN) 2017/2022........  | USD | 38 950 000 | 9 000 000 |  | % | 99.51 | 38 758 950.25 | 2.21 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 7.375 % Medco Oak Tree Pte Ltd (MTN) -Reg- 2019/2026 . 6.75 % Medco Platinum Road Pte Ltd -Reg- (MTN) 2018/2025 ................................  | USD USD | 12 000 000 49 800 000 | 12 000 000 30 800 000 |  | % % | 92.677 93.252 | 11 121 240.00 46 439 496.00 | 0.64 2.65 |
| 4.625 % Minejesa Capital BV -Reg- 2017/2030...........  | USD | 18 000 000 |  | 500 000 | % | 102.114 | 18 380 520.00 | 1.05 |
| 4.661 % Minor International PCL 2018/perpetual * .......  | USD | 11 000 000 | 6 000 000 |  | % | 102.65 | 11 291 445.00 | 0.65 |
| 2.50  % Mitsubishi Corp. (MTN) 2019/2024 .............  | USD | 5 400 000 |  |  | % | 105.579 | 5 701 266.00 | 0.33 |
| 2.95  % Mitsui Fudosan Co., Ltd -Reg- (MTN) 2018/2023 ..  5.125 % Mong Duong Finance Holdings BV -Reg- (MTN) 2019/2029 ................................  | USD USD | 1 550 000 9 200 000 |  | 8 000 000 | % % | 104.448 99.852 | 1 618 951.75 9 186 430.00 | 0.09 0.52 |
| 6.125 % Muthoot Finance Ltd -Reg- 2019/2022 ..........  | USD | 23 720 000 | 23 720 000 | 3 500 000 | % | 101.438 | 24 060 975.00 | 1.37 |
| 6.50  % New Metro Global Ltd 2018/2021 .............  | USD | 4 500 000 | 3 500 000 |  | % | 100.472 | 4 521 217.50 | 0.26 |
| 7.125 % New Metro Global Ltd 2018/2021 .............  | USD | 1 500 000 | 1 500 000 |  | % | 101.009 | 1 515 135.00 | 0.09 |
| 7.50  % New Metro Global Ltd 2019/2021 .............  | USD | 6 000 000 |  | 2 000 000 | % | 101.774 | 6 106 410.00 | 0.35 |
| 5.00  % Nippon Life Insurance Co. -Reg- 2012/2042 * ....  | USD | 2 000 000 | 2 000 000 | 5 000 000 | % | 106.496 | 2 129 930.00 | 0.12 |
| 4.70  % Nippon Life Insurance Co. -Reg- 2016/2046 * ....  | USD | 12 238 000 |  | 18 000 000 | % | 110.894 | 13 571 268.91 | 0.78 |
| 4.00  % Nippon Life Insurance Co. -Reg- 2017/2047 * ....  | USD | 2 000 000 |  | 5 000 000 | % | 108.384 | 2 167 680.00 | 0.12 |
| 4.00  % Oil India International Pte Ltd (MTN) 2017/2027. . . | USD | 19 500 000 |  |  | % | 100.689 | 19 634 355.00 | 1.12 |
| 2.65  % ORIX Corp. (MTN) 2016/2021 .................  | USD | 800 000 | 800 000 |  | % | 101.294 | 810 352.00 | 0.05 |
| 7.625 % PB International BV (MTN) 2017/2022 ..........  | USD | 15 050 000 |  |  | % | 88.682 | 13 346 716.25 | 0.76 |
| 5.75  % PCCW Capital No 4 Ltd (MTN) 2012/2022 .......  | USD | 3 840 000 |  |  | % | 106.18 | 4 077 292.80 | 0.23 |
| 3.10  % Pertamina Persero PT -Reg- (MTN) 2020/2030 ....  5.125 % Perusahaan Gas Negara Persero Tbk PT -Reg- (MTN) 2014/2024 ..........................  | USD USD | 4 700 000 2 900 000 | 4 700 000 |  | % % | 100.882 104.902 | 4 741 477.50 3 042 158.00 | 0.27 0.17 |
| 5.375 % Perusahaan Listrik Negara PT -Reg- 2018/2029 ...  4.20 % Philippine Government International Bond (MTN) 2014/2024 ................................  | USD USD | 18 500 000 5 000 000 | 5 000 000 | 1 000 000 | % % | 115.802 109.048 | 21 423 277.50 5 452 375.00 | 1.22 0.31 |
| 6.95  % Powerlong Real Estate Holdings Ltd 2018/2021 ..  2.587 % PTTEP Treasury Center Co., Ltd -Reg- (MTN) 2020/2027 ................................  | USD USD | 10 000 000 3 350 000 | 10 000 000 3 350 000 |  | % % | 101 102.413 | 10 100 000.00 3 430 835.50 | 0.58 0.20 |
| 3.546 % Rakuten, Inc. (MTN) 2019/2024 ...............  | USD | 30 000 000 |  |  | % | 106.452 | 31 935 750.00 | 1.83 |
| 4.125 % Santos Finance Ltd (MTN) 2017/2027 ..........  | USD | 40 100 000 | 10 000 000 |  | % | 102.66 | 41 166 660.00 | 2.35 |
| 5.25  % Santos Finance Ltd (MTN) 2019/2029 ..........  | USD | 21 000 000 | 15 000 000 |  | % | 107.601 | 22 596 210.00 | 1.29 |
| 5.25  % SDG Finance I Ltd 2018/2021 .................  | USD | 1 000 000 | 1 000 000 |  | % | 103.283 | 1 032 830.00 | 0.06 |
| 6.50  % Seazen Group Ltd 2018/2020 .................  3.90 % Siam Commercial Bank PCL/Cayman Islands (MTN) 2019/2024 ................................  | USD USD | 1 100 000 3 250 000 | 1 100 000 | 4 000 000 | % % | 100.306 107.07 | 1 103 366.00 3 479 758.75 | 0.06 0.20 |
| 1.875 % SingTel Group Treasury Pte Ltd (MTN) 2020/2030 . | USD | 9 000 000 | 12 300 000 | 3 300 000 | % | 99.585 | 8 962 650.00 | 0.51 |
| 3.00  % SK Hynix, Inc. (MTN) 2019/2024 ...............  | USD | 7 700 000 |  |  | % | 104.54 | 8 049 618.50 | 0.46 |
| 6.50  % SMC Global Power Holdings Corp. 2019/perpetual * | USD | 10 000 000 |  | 1 000 000 | % | 98.97 | 9 897 000.00 | 0.57 |
| 5.95  % SMC Global Power Holdings Corp. 2019/perpetual * 5.325 % Sompo Japan Nipponkoa Insurance, Inc. -Reg- 2013/2073 * ..............................  | USD USD | 5 000 000 3 287 000 | 3 287 000 |  | % % | 96.625 107.995 | 4 831 250.00 3 549 795.65 | 0.28 0.20 |
| 3.00  % SP PowerAssets Ltd -Reg- (MTN) 2017/2027.....  | USD | 9 000 000 |  |  | % | 109.276 | 9 834 885.00 | 0.56 |
| 2.60  % Sumitomo Corp. (MTN) 2019/2024 .............  | USD | 14 250 000 |  |  | % | 105.733 | 15 066 952.50 | 0.86 |
| 6.50 % Sumitomo Life Insurance Co. -Reg- 2013/2073 *.. 2.696 % Sumitomo Mitsui Financial Group, Inc. (MTN) 2019/2024 ................................  | USD USD | 2 100 000 7 000 000 |  | 3 000 000 | % % | 113.118 105.96 | 2 375 478.00 7 417 235.00 | 0.14 0.42 |
| 1.474 % Sumitomo Mitsui Financial Group, Inc. (MTN) 2020/2025 ................................  | USD | 5 000 000 | 5 000 000 |  | % | 100.199 | 5 009 950.00 | 0.29 |
| 7.35  % Sunac China Holdings Ltd 2018/2021 ...........  | USD | 11 460 000 | 5 000 000 |  | % | 101.758 | 11 661 466.80 | 0.67 |
| 2.25  % Suntory Holdings Ltd -Reg- (MTN) 2019/2024 ....  4.25 % Swiss Re Finance Luxembourg SA 2019/perpetual * ...........................  | USD USD | 15 600 000 3 000 000 | 600 000 | 2 000 000 | % % | 104.214 101.212 | 16 257 384.00 3 036 345.00 | 0.93 0.17 |
| 3.625 % Thaioil Treasury Center Co. Ltd -Reg- (MTN) |  |  |  |  |  |  |  |  |
| 2018/2023 ................................  | USD | 700 000 | 700 000 | % | 104.31 | 730 170.00 | 0.04 |
| 2.50  % Thaioil Treasury Center Co. Ltd -Reg- (MTN) 2020/2030 ................................  | USD | 40 500 000 | 52 000 000 | 11 500 000 | % | 100.136 | 40 554 877.50 | 2.32 |
| 3.75  % Thaioil Treasury Center Co. Ltd -Reg- 2020/2050 ..  | USD | 3 000 000 | 15 000 000 | 12 000 000 | % | 100.582 | 3 017 445.00 | 0.17 |
| 8.125 % Theta Capital Pte Ltd (MTN) 2020/2025 .........  1.125 % United States Treasury Note/Bond (MTN) 2020/2025 ................................  | USD USD | 19 800 000 5 000 000 | 19 800 000 85 000 000 | 80 000 000 | % % | 89.569 104.07 | 17 734 662.00 5 203 515.65 | 1.01 0.30 |
| 0.375 % United States Treasury Note/Bond (MTN) 2020/2025 ................................  | USD | 80 000 000 | 80 000 000 |  | % | 100.52 | 80 415 624.80 | 4.60 |
| 4.625 % UPL Corp., Ltd (MTN) 2020/2030 ..............  | USD | 7 500 000 | 7 500 000 |  | % | 99.135 | 7 435 125.00 | 0.42 |
| 6.375 % Vedanta Resources PLC -Reg- (MTN) 2017/2022 ..  | USD | 37 850 000 | 8 000 000 | 6 200 000 | % | 76.422 | 28 925 916.25 | 1.65 |
| 1.90  % Visa, Inc. (MTN) 2020/2027...................  | USD | 3 750 000 | 3 750 000 |  | % | 104.8 | 3 930 000.00 | 0.22 |
| Securities admitted to or included in organized markets |  |  |  |  |  |  | 432 445 293.13 | 24.72 |
| Interest-bearing securities 6.625 % Barminco Finance Pty Ltd -Reg- (MTN) 2017/2022 ** .............................  | USD | 33 565 000 |  |  | % | 99.582 | 33 424 530.48 | 1.91 |
| 2.20  % Central Japan Railway Co. (MTN) 2019/2024 .....  | USD | 13 500 000 | 4 000 000 |  | % | 104.641 | 14 126 535.00 | 0.81 |
| 5.50  % Cifi Holdings Group 2019/2022 ................  7.25 % Dai-ichi Life Insurance Co., Ltd/The -Reg- 2011/2049 * ..............................  | USD USD | 2 500 000 500 000 | 500 000 | 1 000 000 | % % | 100.788 105.744 | 2 519 700.00 528 717.50 | 0.14 0.03 |
| 5.25  % Greenko Dutch BV -Reg- (MTN) 2017/2024 ......  | USD | 40 000 000 | 5 000 000 | 6 000 000 | % | 99.114 | 39 645 800.00 | 2.27 |
| 6.375 % Indo Energy Finance II BV -Reg- (MTN) 2013/2023 ** .............................  | USD | 28 129 500 | 11 400 000 | 19 380 000 | % | 93.444 | 26 285 329.98 | 1.50 |
| 3.95  % Mitsui Fudosan Co., Ltd -Reg- (MTN) 2019/2029 ..  | USD | 7 300 000 |  |  | % | 115.582 | 8 437 486.00 | 0.48 |
| 5.75  % Newcrest Finance Pty Ltd -Reg- 2011/2041 ......  | USD | 21 550 000 | 5 000 000 |  | % | 131.584 | 28 356 433.89 | 1.62 |
| 5.10  % Nippon Life Insurance Co. -Reg- 2014/2044 * ....  | USD | 28 500 000 |  | 20 500 000 | % | 111.398 | 31 748 572.50 | 1.82 |

| Security name | Count/ units/ currency | Quantity/ principal amount | Purchases/ additions in the | Sales/ disposals reporting period | Market price | Total market value in USD | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 1.65  % PayPal Holdings, Inc. (MTN) 2020/2025 .........  | USD | 13 485 000 | 13 485 000 | % | 103.503 | 13 957 379.55 | 0.80 |
| 1.35  % PayPal Holdings, Inc. 2020/2023...............  | USD | 8 335 000 | 8 335 000 | % | 101.974 | 8 499 532.90 | 0.49 |
| 4.00  % Takeda Pharmaceutical Co., Ltd 2019/2021 ......  | USD | 1 200 000 | 1 200 000 | % | 104.335 | 1 252 020.00 | 0.07 |
| 3.025 % Takeda Pharmaceutical Co., Ltd 2020/2040 ......  | USD | 6 665 000 | 6 665 000 | % | 100.404 | 6 691 893.28 | 0.38 |
| 2.375 % Temasek Financial I Ltd-Reg- (MTN) 2012/2023 ...  0.50 % United States Treasury Note/Bond (MTN) 2020/2025 ................................  | USD USD | 3 000 000 100 000 000 | 3 000 000 100 000 000 | % % | 104.346 101.133 | 3 130 380.00 101 132 813.00 | 0.18 5.78 |
| 0.25  % United States Treasury Note/Bond (MTN) 2020/2025 ................................  | USD | 20 000 000 | 20 000 000 |  | % | 99.949 | 19 989 843.80 | 1.14 |
| 8.25  % Vedanta Resources PLC -Reg- (MTN) 2011/2021 ** | USD | 59 600 000 | 11 800 000 |  | % | 87.601 | 52 210 196.00 | 2.98 |
| 4.50  % Woodside Finance Ltd -Reg- (MTN) 2019/2029 ...  | USD | 37 350 000 | 10 000 000 | 5 450 000 | % | 108.456 | 40 508 129.25 | 2.32 |
| Total securities portfolio |  |  |  |  |  |  | 1 702 887 116.12 | 97.32 |
| Derivatives ((Minus signs denote short positions)) |  |  |  |  |  |  |  |  |
| Currency derivatives Receivables/payables |  |  |  |  |  |  | -2 918 143.37 | -0.17 |
| Forward currency transactions |  |  |  |  |  |  |  |  |
| Forward currency transactions (long) |  |  |  |  |  |  |  |  |
| Open positions AUD/USD 28.5 million ...............................  |  |  |  |  |  |  | -134 661.70 | -0.01 |
| CHF/USD 3.5 million ................................  |  |  |  |  |  |  | -2 351.28 | 0.00 |
| CNH/USD 195.1 million ..............................  |  |  |  |  |  |  | 61 533.68 | 0.00 |
| EUR/USD 415.2 million ..............................  |  |  |  |  |  |  | -2 731 868.16 | -0.16 |
| HKD/USD 12.1 million ...............................  |  |  |  |  |  |  | -16.21 | 0.00 |
| SGD/USD 37.9 million ...............................  |  |  |  |  |  |  | -74 119.90 | 0.00 |
| GBP/USD 0.4 million ................................  |  |  |  |  |  |  | -11 981.63 | 0.00 |
| Closed positions SGD/USD 0.6 million ................................  |  |  |  |  |  |  | -487.91 | 0.00 |
| Forward currency transactions (short) |  |  |  |  |  |  |  |  |
| Closed positions USD/EUR 7.1 million ................................  |  |  |  |  |  |  | -24 190.26 | 0.00 |
| Cash at bank |  |  |  |  |  |  | 53 393 029.48 | 3.05 |
| Demand deposits at Depositary EUR deposits......................................  | EUR | 156 609 |  |  |  |  | 175 519.81 | 0.01 |
| Deposits in other EU/EEA currencies |  |  |  |  |  |  |  |  |
| British pound ......................................  | GBP | 346 379 |  |  |  |  | 426 046.78 | 0.02 |
| Deposits in non-EU/EEA currencies |  |  |  |  |  |  |  |  |
| Australian dollar ....................................         | AUD | 169 097 |  |  |  |  | 116 118.57 | 0.01 |
| Chinese yuan renminbi ..............................  | CNY | 488 000 |  |  |  |  | 68 984.05 | 0.00 |
| Hong Kong dollar ..................................  | HKD | 2 458 |  |  |  |  | 317.20 | 0.00 |
| Swiss franc .......................................  | CHF | 97 940 |  |  |  |  | 103 089.31 | 0.01 |
| Singapore dollar ...................................  | SGD | 301 000 |  |  |  |  | 215 585.25 | 0.01 |
| U.S. dollar ........................................  | USD |  |  |  |  |  | 52 287 368.51 | 2.99 |
| Other assets | 20 872 218.73 | 1.19 |
| Interest receivable .................................  | 19 909 395.98 | 1.14 |
| Receivables from exceeding the expense cap ............  | 62 253.25 | 0.00 |
| Other receivables ..................................  | 900 569.50 | 0.05 |
| Receivables from share certificate transactions | 21 979 908.13 | 1.26 |
| Total assets *** | 1 799 193 806.14 | 102.82 |
| Other liabilities | -17 401 906.20 | -0.99 |
| Additional other liabilities.............................  | -17 401 906.20 | -0.99 |
| Liabilities from share certificate transactions | -28 971 748.97 | -1.66 |
| Total liabilities | -49 353 332.22 | -2.82 |
| Net assets | 1 749 840 473.92 | 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 AUD LDMH ..................................  | AUD | 100.43 |
| Class CHF LCH ....................................  | CHF | 97.78 |
| Class CHF TFCH ...................................  | CHF | 98.31 |
| Class RMB FCH350.................................  | CNY | 106.32 |
| Class RMB FCH700.................................  | CNY | 106.53 |
| Class FCH ........................................  | EUR | 132.56 |
| Class FCH100 .....................................  | EUR | 99.12 |
| Class IDH.........................................  | EUR | 94.01 |
| Class LCH ........................................  | EUR | 99.24 |
| Class LDH ........................................  | EUR | 92.39 |
| Class LDMH ......................................  | EUR | 99.02 |
| Class NCH ........................................  | EUR | 103.82 |
| Class TFCH .......................................  | EUR | 101.07 |
| Class TFDH .......................................  | EUR | 90.80 |
| Class TFDMH .....................................  | EUR | 99.81 |
| Class GBP TFDMH .................................  | GBP | 98.12 |
| Class HKD LDM ...................................  | HKD | 98.95 |
| Class HKD LDMH ..................................  | HKD | 101.67 |
| Class HKD TFDMH .................................  | HKD | 109.76 |
| Class SGD LDM ...................................  | SGD | 10.92 |
| Class SGD LDMH ..................................  | SGD | 9.82 |
| Class SGD TFDMH .................................  | SGD | 10.20 |
| Class USD FC .....................................  | USD | 147.64 |
| Class USD FC50 ...................................  | USD | 107.16 |
| Class USD IC ......................................  | USD | 113.83 |
| Class USD IC100 ...................................  | USD | 114.84 |
| Class USD LC .....................................  | USD | 106.51 |
| Class USD LDM ...................................  | USD | 96.95 |
| Class USD TFC ....................................  | USD | 108.63 |
| Class USD TFDM ..................................  | USD | 100.02 |
| Class USD XC .....................................  | USD | 114.45 |
| Number of shares outstanding Class AUD LDMH ..................................  | Count | 282 311.896 |
| Class CHF LCH ....................................  | Count | 1 612.000 |
| Class CHF TFCH ...................................  | Count | 34 312.000 |
| Class RMB FCH350.................................  | Count | 760.000 |
| Class RMB FCH700.................................  | Count | 1 836 276.486 |
| Class FCH ........................................  | Count | 700 648.901 |
| Class FCH100 .....................................  | Count | 225 354.000 |
| Class IDH.........................................  | Count | 1 298 904.000 |
| Class LCH ........................................  | Count | 659 185.241 |
| Class LDH ........................................  | Count | 212 158.029 |
| Class LDMH ......................................  | Count | 172 198.793 |
| Class NCH ........................................  | Count | 95 758.000 |
| Class TFCH .......................................  | Count | 605 272.892 |
| Class TFDH .......................................  | Count | 42 967.361 |
| Class TFDMH .....................................  | Count | 21 446.148 |
| Class GBP TFDMH .................................  | Count | 4 523.168 |
| Class HKD LDM ...................................  | Count | 4 122 727.909 |
| Class HKD LDMH ..................................  | Count | 117 210.147 |
| Class HKD TFDMH .................................  | Count | 900.000 |
| Class SGD LDM ...................................  | Count | 64 763.945 |
| Class SGD LDMH ..................................  | Count | 3 000 167.893 |
| Class SGD TFDMH .................................  | Count | 817 805.912 |
| Class USD FC .....................................  | Count | 1 241 677.800 |
| Class USD FC50 ...................................  | Count | 273 941.356 |
| Class USD IC ......................................  | Count | 1 172 642.000 |
| Class USD IC100 ...................................  | Count | 1 384 886.000 |
| Class USD LC .....................................  | Count | 1 303 740.783 |
| Class USD LDM ...................................  | Count | 2 884 068.583 |
| Class USD TFC ....................................  | Count | 259 843.780 |
| Class USD TFDM ..................................  | Count | 1 290 104.297 |
| Class USD XC .....................................  | Count | 601 822.549 |

Composition of the reference portfolio (according to CSSF circular 11/512) JPMorgan ASIA CREDIT INDEX in USD (hedged) TR – JACI Index
Market risk exposure (value-at-risk) (according to CSSF circular 11/512)
| Lowest market risk exposure .........................  | % | 96.210 |
| --- | --- | --- |
| Highest market risk exposure .........................  | % | 189.228 |
| Average market risk exposure ........................  | % | 121.557 |

The values-at-risk were calculated for the period from January 1, 2020, through June 30, 2020, using historical simulation with a 99% confidence level, a 10-day holding period and an effective historical observation period of one year. The risk in a reference portfolio that does not contain derivatives is used as the measurement benchmark. Market risk is the risk to the fund’s assets arising from an unfavorable change in market prices. The Company determines the potential market risk by means of the relative value-at-risk approachas defined in CSSF circular 11/512.
In the reporting period, the average leverage effect from the use of derivatives was 0.0, whereby the total of the nominal amounts of the derivatives in relation to the fund’s assets was used for the calculation (sum-of-notional approach).
The gross exposure generated via derivatives pursuant to point 40 a) of the “Guidelines on ETFs and other UCITS issues” of the European Securities and Markets Authority (ESMA) totaled USD 0.00 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
BNP Paribas SA, Bofa Securities Europe, Citigroup Global Markets Limited, Goldman Sachs International, JP Morgan, Royal Bank of Canada (UK), State Street Bank London and UBS AG

####  Securities lending	
The following securities were transferred under securities loans at the reporting date:
| Security name | Currency |  | Quantity/ principal amount | Securities loans Total market value in EUR No fixed maturity | Total |
| --- | --- | --- | --- | --- | --- |
| 6.625 % Barminco Finance Pty Ltd -Reg- (MTN) 2017/2022.................................................................. | USD | 500 000 |  | 497 907.50 |  |
| 2.375 % Export-Import Bank of Korea (MTN) 2019/2024 ........ | USD | 1 100 000 |  | 1 161 814.50 |  |
| 5.25 % Greenko Dutch BV -Reg- (MTN) 2017/2024 .............. 6.375 % Indo Energy Finance II BV -Reg- (MTN) 2013/2023.................................................................. | USD USD | 1 500 000 4 500 000 |  | 1 486 717.50 4 204 980.00 |  |
| 8.25 % Vedanta Resources PLC -Reg- (MTN) 2011/2021 ..... | USD | 1 500 000 |  | 1 314 015.00 |  |
| Total receivables from securities loans |  |  |  | 8 665 434.50 | 8 665 434.50 |
| Contracting parties for securities loans Barclays Capital Securities Limited, Deutsche Bank AG FI |  |  |  |  |  |
| Total collateral pledged by third parties for securities loans thereof: Bonds |  |  |  | EUR EUR | 8 850 523.02 5 759 975.00 |
| Equities |  |  |  | EUR | 3 090 548.02 |

 Exchange rates (indirect quotes)	
As of June 30, 2020
| Australian dollar	AUD | 1.456240 | = USD | 1 |
| --- | --- | --- | --- |
| Swiss franc	CHF | 0.950050 | = USD | 1 |
| Chinese yuan renminbi	CNY | 7.074100 | = USD | 1 |
| Euro	EUR | 0.892260 | = USD | 1 |
| British pound	GBP | 0.813008 | = USD | 1 |
| Hong Kong dollar	HKD | 7.750350 | = USD | 1 |
| Singapore dollar	SGD | 1.396200 | = USD | 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	
* Floating interest rate.
** 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 Asian Bonds
DWS INVEST ASIAN BONDS

### Wertentwicklung der Anteilklassen vs. Vergleichsindex (in USD)
| Anteilklasse | ISIN | 6 Monate |
| --- | --- | --- |
| Klasse USD FC | LU0813325502 | -0,4% |
| Klasse USD FC50 | LU1949850538 | -0,3% |
| Klasse USD IC | LU1589659504 | -0,3% |
| Klasse USD IC100 | LU1589658522 | -0,1% |
| Klasse USD LC | LU0813325411 | -0,6% |
| Klasse USD LDM | LU1525638091 | -0,6% |
| Klasse USD TFC | LU1663839352 | -0,4% |
| Klasse USD TFDM | LU1951361812 | -0,4% |
| Klasse USD XC | LU1589658878 | -0,2% |
| Klasse AUD LDMH 1) | LU1880859548 | -1,5% |
| Klasse CHF LCH 2) | LU2004370479 | -2,2% |
| Klasse CHF TFCH 2) | LU2004370636 | -1,9% |
| Klasse RMB FCH350 3) | LU1968688793 | 0,1% |
| Klasse RMB FCH700 3) | LU1968688520 | 0,5% |
| Klasse FCH 4) | LU0813324794 | -1,7% |
| Klasse FCH100 4) | LU2022029008 | -1,6% |
| Klasse IDH 4) | LU1796233663 | -1,6% |
| Klasse LCH 4) | LU0813324364 | -2,3% |
| Klasse LDH 4) | LU0813324521 | -1,8% |
| Klasse LDMH 4) | LU1880859894 | -1,9% |
| Klasse NCH 4) | LU1914384000 | -2,1% |
| Klasse TFCH 4) | LU1663839196 | -1,7% |
| Klasse TFDH 4) | LU1663839279 | -1,7% |
| Klasse TFDMH 4) | LU1880860041 | -1,7% |
| Klasse GBP TFDMH 5) | LU2079148602 | -1,6% |
| Klasse HKD LDM 6) | LU1769795342 | -1,1% |
| Klasse HKD LDMH 6) | LU1805360861 | -0,6% |
| Klasse HKD TFDMH 6) | LU1880859621 | -0,3% |
| Klasse SGD LDM 7) | LU1769795698 | 2,8% |
| Klasse SGD LDMH 7) | LU1805361083 | -1,0% |
| Klasse SGD TFDMH 7) | LU1880859977 | -0,7% |


##### JP Morgan Asian Credit Index	2,3%
1) 
in AUD
2) 
in CHF
3) 
in CNY
4) 
in EUR
5) 
in GBP
6) 
in HKD
7) 
in SGD
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 Asian Bonds
| Vermögensübersicht zum 30.6.2020 |  |
| --- | --- |
|  | Bestand in USD | %-Anteil am Fondsvermögen |
| I. Vermögensgegenstände |  |  |
| 1. Anleihen (Emittenten) Unternehmen | 1 381 739 734,27 | 78,96 |
| Zentralregierungen | 321 147 381,85 | 18,36 |
| Summe Anleihen | 1 702 887 116,12 | 97,32 |
| 2. Derivate | -2 918 143,37 | - 0,17 |
| 3. Bankguthaben | 53 393 029,48 | 3,05 |
| 4. Sonstige Vermögensgegenstände | 20 872 218,73 | 1,19 |
| 5. Forderungen aus Anteilscheingeschäften | 21 979 908,13 | 1,26 |
| II. Verbindlichkeiten |  |  |
| 1. Sonstige Verbindlichkeiten | -17 401 906,20 | - 0,99 |
| 2. Verbindlichkeiten aus Anteilscheingeschäften | -28 971 748,97 | - 1,66 |
| III. Fondsvermögen | 1 749 840 473,92 | 100,00 |
| Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein. |  |  |

| Vermögensaufstellung zum 30.6.2020 |  |
| --- | --- |
|  | Stück bzw. | Nominalbetrag | Käufe/ | Verkäufe/ | Kurs | Kurswert | %-Anteil am |
| Wertpapierbezeichnung | Anteile bzw. | bzw. | Zugänge | Abgänge |  | in | Fonds- |
| Währung	Bestand	im Berichtszeitraum	USD	vermögen |
| Börsengehandelte Wertpapiere	1 270 441 822,99	72,60 |
| Verzinsliche Wertpapiere 2,50 % Abu Dhabi Government International Bond -Reg- (MTN) 2020/2025 ..................................................... | USD | 9 580 000 | 9 580 000 | % | 105,28 | 10 085 871,90 | 0,58 |
| 3,949 % Adani Electricity Mumbai Ltd -Reg- (MTN) |  |  |  |  |  |  |  |
| 2020/2030 ................................................................. | USD | 10 000 000 | 10 000 000 |  | % | 93,796 | 9 379 550,00 | 0,54 |
| 4,25 % Adani Transmission Ltd -Reg- 2019/2036 ................ | USD | 4 477 500 |  | 22 500 | % | 96,756 | 4 332 272,29 | 0,25 |
| 11,50 % Alam Synergy Pte Ltd 2019/2021 ............................ | USD | 1 935 897 |  | 4 564 103 | % | 73,55 | 1 423 852,13 | 0,08 |
| 7,25 % Asahi Mutual Life Insurance Co. 2017/perpetual * ... | USD | 29 220 000 |  | 3 500 000 | % | 105,376 | 30 791 013,30 | 1,76 |
| 6,50 % Asahi Mutual Life Insurance Co. 2018/perpetual * ... | USD | 42 700 000 |  | 2 000 000 | % | 106,394 | 45 430 238,00 | 2,60 |
| 5,50 % Azure Power Energy Ltd -Reg- (MTN) 2017/2022 .... 5,65 % Azure Power Solar Energy Pvt Ltd -Reg- (MTN) 2019/2024 ................................................................. | USD USD | 33 600 000 4 000 000 | 6 000 000 | 1 000 000 | % % | 101,034 101,062 | 33 947 592,00 4 042 480,00 | 1,94 0,23 |
| 4,05 % Bangkok Bank PCL/Hong Kong -Reg- (MTN) 2018/2024 ................................................................. | USD | 800 000 |  |  | % | 108,283 | 866 264,00 | 0,05 |
| 4,375 % Bharat Petroleum Corp., Ltd (MTN) 2019/2022 ....... | USD | 3 000 000 |  |  | % | 102,076 | 3 062 280,00 | 0,17 |
| 7,50 % China Aoyuan Group Ltd 2018/2021 ........................ | USD | 2 250 000 | 2 000 000 |  | % | 101,566 | 2 285 246,25 | 0,13 |
| 7,95 % China Aoyuan Group Ltd 2018/2021 ........................ | USD | 7 900 000 | 2 400 000 | 4 500 000 | % | 102,267 | 8 079 093,00 | 0,46 |
| 8,50 % China Aoyuan Group Ltd 2019/2022 ........................ | USD | 15 500 000 | 8 000 000 |  | % | 103,42 | 16 030 177,50 | 0,92 |
| 4,80 % China Aoyuan Group Ltd 2020/2021 ........................ 1,875 % CK Hutchison International 16 Ltd -Reg- (MTN) 2016/2021 ................................................................. | USD USD | 8 650 000 4 000 000 | 8 650 000 4 000 000 |  | % % | 99,575 100,601 | 8 613 237,50 4 024 040,00 | 0,49 0,23 |
| 3,609 % CMT MTN Pte Ltd (MTN) 2019/2029 ....................... 7,25 % Country Garden Holdings Co., Ltd -Reg- (MTN) 2013/2021 ................................................................. | USD USD | 3 500 000 2 000 000 | 2 000 000 |  | % % | 106,477 100,828 | 3 726 695,00 2 016 560,00 | 0,21 0,12 |
| 7,50 % Eterna Capital Pte Ltd (MTN) 2017/2022 ................. | USD | 77 764 583 |  | 886 005 | % | 55,673 | 43 293 534,13 | 2,47 |
| 2,50 % Export-Import Bank of Korea (MTN) 2015/2021 ....... | USD | 5 000 000 | 5 000 000 | 1 450 000 | % | 101,48 | 5 074 000,00 | 0,29 |
| 2,875 % Export-Import Bank of Korea (MTN) 2015/2025 ....... | USD | 10 000 000 |  |  | % | 108,522 | 10 852 200,00 | 0,62 |
| 2,375 % Export-Import Bank of Korea (MTN) 2019/2024 **... | USD | 16 800 000 |  |  | % | 105,62 | 17 744 076,00 | 1,01 |
| 2,191 % Export-Import Bank of Korea 2020/2023 * ............... | USD | 5 150 000 | 5 150 000 |  | % | 101,46 | 5 225 190,00 | 0,30 |
| 5,75 % FWD Group Ltd (MTN) 2019/2024 ........................... 5,125 % Gold Fields Orogen Holdings BVI Ltd -Reg- (MTN) 2019/2024 ................................................................. | USD USD | 5 000 000 3 500 000 |  | 2 000 000 | % % | 101,789 107,629 | 5 089 450,00 3 767 015,00 | 0,29 0,22 |
| 6,125 % Gold Fields Orogen Holdings BVI Ltd -Reg- (MTN) 2019/2029 ................................................................. | USD | 2 000 000 |  |  | % | 114,318 | 2 286 370,00 | 0,13 |
| 4,875 % Greenko Dutch BV -Reg- (MTN) 2017/2022 ** ........ 5,55 % Greenko Solar Mauritius Ltd -Reg- (MTN) 2019/2025 ................................................................. | USD USD | 13 450 000 9 000 000 | 850 000 | 4 000 000 2 000 000 | % % | 99,17 98,438 | 13 338 297,75 8 859 375,00 | 0,76 0,51 |
| 3,00 % GS Caltex Corp. -Reg- (MTN) 2019/2024 ................. 3,875 % Hanwha Total Petrochemical Co., Ltd (MTN) 2019/2024 ................................................................. | USD USD | 11 600 000 1 950 000 |  |  | % % | 104,904 107,077 | 12 168 806,00 2 088 001,50 | 0,70 0,12 |
| 3,00 % Harvest Operations Corp. -Reg- (MTN) 2017/2022 ... | USD | 2 000 000 | 2 000 000 |  | % | 104,618 | 2 092 360,00 | 0,12 |
| 4,20 % Harvest Operations Corp. -Reg- (MTN) 2018/2023 ... | USD | 3 000 000 | 3 000 000 |  | % | 109,074 | 3 272 205,00 | 0,19 |
| 2,75 % HPHT Finance 17 Ltd (MTN) 2017/2022 .................. | USD | 44 500 000 |  |  | % | 101,848 | 45 322 360,00 | 2,59 |
| 2,875 % HPHT Finance 19 Ltd (MTN) 2019/2024 .................. 7,00 % HT Global IT Solutions Holdings Ltd -Reg- (MTN) 2016/2021 ................................................................. | USD USD | 4 350 000 35 176 000 | 6 425 000 | 20 000 000 | % % | 103,208 98,899 | 4 489 569,75 34 788 712,24 | 0,26 1,99 |
| 4,75 % Indian Oil Corp., Ltd (MTN) 2019/2024 .................... 3,73 % Indian Railway Finance Corp., Ltd (MTN) 2019/2024 ................................................................. | USD USD | 10 000 000 3 000 000 |  |  | % % | 105,43 105,06 | 10 543 000,00 3 151 815,00 | 0,60 0,18 |
| 6,875 % Indika Energy Capital II Pte Ltd -Reg- (MTN) |  |  |  |  |  |  |  |  |
| 2017/2022 ................................................................. | USD | 31 700 000 | 15 500 000 | % | 97,264 | 30 832 529,50 | 1,76 |
| 5,71 % Indonesia Asahan Aluminium Persero PT -Reg- |  |  |  |  |  |  |  |  |
| (MTN) 2018/2023 ..................................................... | USD | 5 600 000 | % | 108,936 | 6 100 416,00 | 0,35 |
| 4,75 % Indonesia Asahan Aluminium Persero PT -Reg- |  |  |  |  |  |  |  |  |
| (MTN) 2020/2025 ..................................................... | USD | 6 850 000 | 6 850 000 | % | 107,308 | 7 350 632,25 | 0,42 |
| 5,125 % Industrial & Commercial Bank of China Asia Ltd (MTN) 2010/2020 ..................................................... | USD | 1 000 000 | 1 000 000 |  | % | 101,579 | 1 015 790,00 | 0,06 |
| 2,125 % Industrial Bank of Korea -Reg- (MTN) 2019/2024 ..... | USD | 4 000 000 |  |  | % | 104,818 | 4 192 740,00 | 0,24 |
| 6,50 % Jababeka International BV -Reg- (MTN) 2016/2023 ... 5,50 % Japfa Comfeed Indonesia Tbk PT (MTN) 2017/2022.................................................................. | USD USD | 21 000 000 21 700 000 |  | 1 500 000 | % % | 82,984 99,781 | 17 426 745,00 21 652 477,00 | 1,00 1,24 |
| 11,75 % Kaisa Group Holdings Ltd 2019/2021 ....................... | USD | 3 306 000 |  |  | % | 103,036 | 3 406 386,69 | 0,19 |
| 7,875 % Kaisa Group Holdings Ltd 2020/2021 ....................... | USD | 4 000 000 | 9 000 000 | 5 000 000 | % | 100,472 | 4 018 880,00 | 0,23 |
| 6,75 % Kaisa Group Holdings Ltd. 2020/2021 ...................... | USD | 7 000 000 | 8 000 000 | 1 000 000 | % | 99,945 | 6 996 150,00 | 0,40 |
| 1,75 % Kookmin Bank -Reg- (MTN) 2020/2025 .................... | USD | 5 200 000 | 5 200 000 |  | % | 102,321 | 5 320 692,00 | 0,30 |
| 2,125 % Korea Development Bank/The (MTN) 2019/2024 .... | USD | 17 800 000 |  | 5 000 000 | % | 104,946 | 18 680 477,00 | 1,07 |
| 1,75 % Korea Development Bank/The (MTN) 2020/2025 .... | USD | 7 800 000 | 9 800 000 | 2 000 000 | % | 103,586 | 8 079 669,00 | 0,46 |
| 1,25 % Korea Development Bank/The (MTN) 2020/2025 .... 1,75 % Korea East-West Power Co., Ltd -Reg- (MTN) 2020/2025 ................................................................. | USD USD | 10 000 000 3 750 000 | 10 000 000 3 750 000 |  | % % | 101,324 103,076 | 10 132 350,00 3 865 331,25 | 0,58 0,22 |
| 1,125 % Korea Electric Power Corp. -Reg- (MTN) 2020/2025.. | USD | 4 150 000 | 4 150 000 |  | % | 100,402 | 4 166 683,00 | 0,24 |
| 2,25 % Korea Gas Corp. -Reg- (MTN) 2016/2026 ................. | USD | 1 700 000 | 1 700 000 |  | % | 106,644 | 1 812 956,50 | 0,10 |
| 2,75 % Korea Gas Corp. -Reg- (MTN) 2017/2022 ................. | USD | 400 000 | 400 000 |  | % | 103,948 | 415 794,00 | 0,02 |
| 3,125 % Korea Gas Corp. -Reg- (MTN) 2017/2027 ................. 2,00 % Korea Housing Finance Corp. -Reg- (MTN) 2016/2021 ................................................................. | USD USD | 2 000 000 1 885 000 | 1 885 000 |  | % % | 110,014 101,522 | 2 200 290,00 1 913 689,70 | 0,13 0,11 |
| 2,875 % Korea National Oil Corp. -Reg- (MTN) 2017/2022 .... | USD | 8 100 000 | 8 100 000 |  | % | 103,422 | 8 377 222,50 | 0,48 |
| 9,85 % KWG Group Holdings Ltd 2018/2020 ....................... | USD | 3 000 000 | 3 000 000 |  | % | 101,982 | 3 059 445,00 | 0,17 |

| Wertpapierbezeichnung | Stück bzw. Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Währung	Bestand	im Berichtszeitraum	USD	vermögen |
| 5,30 % Marble II Pte Ltd -Reg- (MTN) 2017/2022 ................ | USD | 38 950 000 | 9 000 000 |  | % | 99,51 | 38 758 950,25 | 2,21 |
| 7,375 % Medco Oak Tree Pte Ltd (MTN) -Reg- 2019/2026 ... | USD | 12 000 000 | 12 000 000 |  | % | 92,677 | 11 121 240,00 | 0,64 |
| 6,75 % Medco Platinum Road Pte Ltd -Reg- (MTN) |  |  |  |  |  |  |  |  |
| 2018/2025 ................................................................. | USD | 49 800 000 | 30 800 000 |  | % | 93,252 | 46 439 496,00 | 2,65 |
| 4,625 % Minejesa Capital BV -Reg- 2017/2030 ...................... | USD | 18 000 000 |  | 500 000 | % | 102,114 | 18 380 520,00 | 1,05 |
| 4,661 % Minor International PCL 2018/perpetual * ............... | USD | 11 000 000 | 6 000 000 |  | % | 102,65 | 11 291 445,00 | 0,65 |
| 2,50 % Mitsubishi Corp. (MTN) 2019/2024 .......................... | USD | 5 400 000 |  |  | % | 105,579 | 5 701 266,00 | 0,33 |
| 2,95 % Mitsui Fudosan Co., Ltd -Reg- (MTN) 2018/2023 .... | USD | 1 550 000 |  |  | % | 104,448 | 1 618 951,75 | 0,09 |
| 5,125 % Mong Duong Finance Holdings BV -Reg- (MTN) |  |  |  |  |  |  |  |  |
| 2019/2029 ................................................................. | USD | 9 200 000 |  | 8 000 000 | % | 99,852 | 9 186 430,00 | 0,52 |
| 6,125 % Muthoot Finance Ltd -Reg- 2019/2022 .................... | USD | 23 720 000 | 23 720 000 | 3 500 000 | % | 101,438 | 24 060 975,00 | 1,37 |
| 6,50 % New Metro Global Ltd 2018/2021 ............................ | USD | 4 500 000 | 3 500 000 |  | % | 100,472 | 4 521 217,50 | 0,26 |
| 7,125 % New Metro Global Ltd 2018/2021 ............................ | USD | 1 500 000 | 1 500 000 |  | % | 101,009 | 1 515 135,00 | 0,09 |
| 7,50 % New Metro Global Ltd 2019/2021 ............................ | USD | 6 000 000 |  | 2 000 000 | % | 101,774 | 6 106 410,00 | 0,35 |
| 5,00 % Nippon Life Insurance Co. -Reg- 2012/2042 * ......... | USD | 2 000 000 | 2 000 000 | 5 000 000 | % | 106,496 | 2 129 930,00 | 0,12 |
| 4,70 % Nippon Life Insurance Co. -Reg- 2016/2046 * ......... | USD | 12 238 000 |  | 18 000 000 | % | 110,894 | 13 571 268,91 | 0,78 |
| 4,00 % Nippon Life Insurance Co. -Reg- 2017/2047 * ......... | USD | 2 000 000 |  | 5 000 000 | % | 108,384 | 2 167 680,00 | 0,12 |
| 4,00 % Oil India International Pte Ltd (MTN) 2017/2027 ...... | USD | 19 500 000 |  |  | % | 100,689 | 19 634 355,00 | 1,12 |
| 2,65 % ORIX Corp. (MTN) 2016/2021 .................................. | USD | 800 000 | 800 000 |  | % | 101,294 | 810 352,00 | 0,05 |
| 7,625 % PB International BV (MTN) 2017/2022 ..................... | USD | 15 050 000 |  |  | % | 88,682 | 13 346 716,25 | 0,76 |
| 5,75 % PCCW Capital No 4 Ltd (MTN) 2012/2022 ............... | USD | 3 840 000 |  |  | % | 106,18 | 4 077 292,80 | 0,23 |
| 3,10 % Pertamina Persero PT -Reg- (MTN) 2020/2030 ........ | USD | 4 700 000 | 4 700 000 |  | % | 100,882 | 4 741 477,50 | 0,27 |
| 5,125 % Perusahaan Gas Negara Persero Tbk PT -Reg- |  |  |  |  |  |  |  |  |
| (MTN) 2014/2024 ..................................................... | USD | 2 900 000 |  |  | % | 104,902 | 3 042 158,00 | 0,17 |
| 5,375 % Perusahaan Listrik Negara PT -Reg- 2018/2029 ....... | USD | 18 500 000 |  | 1 000 000 | % | 115,802 | 21 423 277,50 | 1,22 |
| 4,20 % Philippine Government International Bond (MTN) |  |  |  |  |  |  |  |  |
| 2014/2024 ................................................................. | USD | 5 000 000 | 5 000 000 |  | % | 109,048 | 5 452 375,00 | 0,31 |
| 6,95 % Powerlong Real Estate Holdings Ltd 2018/2021 ...... | USD | 10 000 000 | 10 000 000 |  | % | 101 | 10 100 000,00 | 0,58 |
| 2,587 % PTTEP Treasury Center Co., Ltd -Reg- (MTN) |  |  |  |  |  |  |  |  |
| 2020/2027 ................................................................. | USD | 3 350 000 | 3 350 000 |  | % | 102,413 | 3 430 835,50 | 0,20 |
| 3,546 % Rakuten, Inc. (MTN) 2019/2024 ............................... | USD | 30 000 000 |  |  | % | 106,452 | 31 935 750,00 | 1,83 |
| 4,125 % Santos Finance Ltd (MTN) 2017/2027 ...................... | USD | 40 100 000 | 10 000 000 |  | % | 102,66 | 41 166 660,00 | 2,35 |
| 5,25 % Santos Finance Ltd (MTN) 2019/2029 ...................... | USD | 21 000 000 | 15 000 000 |  | % | 107,601 | 22 596 210,00 | 1,29 |
| 5,25 % SDG Finance I Ltd 2018/2021 .................................. | USD | 1 000 000 | 1 000 000 |  | % | 103,283 | 1 032 830,00 | 0,06 |
| 6,50 % Seazen Group Ltd 2018/2020 ................................... | USD | 1 100 000 | 1 100 000 | 4 000 000 | % | 100,306 | 1 103 366,00 | 0,06 |
| 3,90 % Siam Commercial Bank PCL/Cayman Islands (MTN) |  |  |  |  |  |  |  |  |
| 2019/2024 ................................................................. | USD | 3 250 000 |  |  | % | 107,07 | 3 479 758,75 | 0,20 |
| 1,875 % SingTel Group Treasury Pte Ltd (MTN) 2020/2030 .. | USD | 9 000 000 | 12 300 000 | 3 300 000 | % | 99,585 | 8 962 650,00 | 0,51 |
| 3,00 % SK Hynix, Inc. (MTN) 2019/2024 .............................. | USD | 7 700 000 |  |  | % | 104,54 | 8 049 618,50 | 0,46 |
| 6,50 % SMC Global Power Holdings Corp. 2019/perpetual * | USD | 10 000 000 |  | 1 000 000 | % | 98,97 | 9 897 000,00 | 0,57 |
| 5,95 % SMC Global Power Holdings Corp. 2019/perpetual * | USD | 5 000 000 |  |  | % | 96,625 | 4 831 250,00 | 0,28 |
| 5,325 % Sompo Japan Nipponkoa Insurance, Inc. -Reg- |  |  |  |  |  |  |  |  |
| 2013/2073 * ............................................................. | USD | 3 287 000 | 3 287 000 |  | % | 107,995 | 3 549 795,65 | 0,20 |
| 3,00 % SP PowerAssets Ltd -Reg- (MTN) 2017/2027 .......... | USD | 9 000 000 |  |  | % | 109,276 | 9 834 885,00 | 0,56 |
| 2,60 % Sumitomo Corp. (MTN) 2019/2024 .......................... | USD | 14 250 000 |  |  | % | 105,733 | 15 066 952,50 | 0,86 |
| 6,50 % Sumitomo Life Insurance Co. -Reg- 2013/2073 * .... | USD | 2 100 000 |  |  | % | 113,118 | 2 375 478,00 | 0,14 |
| 2,696 % Sumitomo Mitsui Financial Group, Inc. (MTN) |  |  |  |  |  |  |  |  |
| 2019/2024 ................................................................. | USD | 7 000 000 | 3 000 000 | % | 105,96 | 7 417 235,00 | 0,42 |
| 1,474 % Sumitomo Mitsui Financial Group, Inc. (MTN) |  |  |  |  |  |  |  |  |
|  | 2020/2025 ................................................................. | USD | 5 000 000 | 5 000 000 |  | % | 100,199 | 5 009 950,00 | 0,29 |
| 7,35 | % Sunac China Holdings Ltd 2018/2021 ...................... | USD | 11 460 000 | 5 000 000 |  | % | 101,758 | 11 661 466,80 | 0,67 |
| 2,25 | % Suntory Holdings Ltd -Reg- (MTN) 2019/2024 ......... | USD | 15 600 000 | 600 000 |  | % | 104,214 | 16 257 384,00 | 0,93 |
| 4,25 | % Swiss Re Finance Luxembourg SA |  |  |  |  |  |  |  |  |
|  | 2019/perpetual *........................................................ | USD | 3 000 000 |  | 2 000 000 | % | 101,212 | 3 036 345,00 | 0,17 |
| 3,625 % Thaioil Treasury Center Co. Ltd -Reg- (MTN) |
| 2018/2023 ................................................................. | USD | 700 000 | 700 000 | % | 104,31 | 730 170,00 | 0,04 |
| 2,50 | % Thaioil Treasury Center Co. Ltd -Reg- (MTN) |  |  |  |  |  |  |  |  |
| 2020/2030 ................................................................. | USD | 40 500 000 | 52 000 000 | 11 500 000 | % | 100,136 | 40 554 877,50 | 2,32 |
| 3,75 % Thaioil Treasury Center Co. Ltd -Reg- 2020/2050 .... | USD | 3 000 000 | 15 000 000 | 12 000 000 | % | 100,582 | 3 017 445,00 | 0,17 |
| 8,125 % Theta Capital Pte Ltd (MTN) 2020/2025 ................... | USD | 19 800 000 | 19 800 000 |  | % | 89,569 | 17 734 662,00 | 1,01 |
| 1,125 % United States Treasury Note/Bond (MTN) |  |  |  |  |  |  |  |  |
| 2020/2025 .................................................................. | USD | 5 000 000 | 85 000 000 | 80 000 000 | % | 104,07 | 5 203 515,65 | 0,30 |
| 0,375 % United States Treasury Note/Bond (MTN) |
| 2020/2025 ................................................................. | USD | 80 000 000 | 80 000 000 |  | % | 100,52 | 80 415 624,80 | 4,60 |
| 4,625 % UPL Corp., Ltd (MTN) 2020/2030 ............................. | USD | 7 500 000 | 7 500 000 |  | % | 99,135 | 7 435 125,00 | 0,42 |
| 6,375 % Vedanta Resources PLC -Reg- (MTN) 2017/2022 .... | USD | 37 850 000 | 8 000 000 | 6 200 000 | % | 76,422 | 28 925 916,25 | 1,65 |
| 1,90 % Visa, Inc. (MTN) 2020/2027 ...................................... | USD | 3 750 000 | 3 750 000 |  | % | 104,8 | 3 930 000,00 | 0,22 |

An organisierten Märkten zugelassene oder in diese einbezogene Wertpapiere	432 445 293,13	24,72 Verzinsliche Wertpapiere
6,625 % Barminco Finance Pty Ltd -Reg- (MTN)
| 2017/2022 ** ........................................................... | USD | 33 565 000 |  |  | % | 99,582 | 33 424 530,48 | 1,91 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 2,20 % Central Japan Railway Co. (MTN) 2019/2024 ........... | USD | 13 500 000 | 4 000 000 |  | % | 104,641 | 14 126 535,00 | 0,81 |
| 5,50 % Cifi Holdings Group 2019/2022 ................................ | USD | 2 500 000 |  | 1 000 000 | % | 100,788 | 2 519 700,00 | 0,14 |
| 7,25 % Dai-ichi Life Insurance Co., Ltd/The -Reg- |  |  |  |  |  |  |  |  |
| 2011/2049 * ............................................................. | USD | 500 000 | 500 000 |  | % | 105,744 | 528 717,50 | 0,03 |
| 5,25 % Greenko Dutch BV -Reg- (MTN) 2017/2024 ............. | USD | 40 000 000 | 5 000 000 | 6 000 000 | % | 99,114 | 39 645 800,00 | 2,27 |
| 6,375 % Indo Energy Finance II BV -Reg- (MTN) |  |  |  |  |  |  |  |  |
| 2013/2023 ** ........................................................... | USD | 28 129 500 | 11 400 000 | 19 380 000 | % | 93,444 | 26 285 329,98 | 1,50 |
| 3,95 % Mitsui Fudosan Co., Ltd -Reg- (MTN) 2019/2029 .... | USD | 7 300 000 |  |  | % | 115,582 | 8 437 486,00 | 0,48 |
| 5,75 % Newcrest Finance Pty Ltd -Reg- 2011/2041 ............ | USD | 21 550 000 | 5 000 000 |  | % | 131,584 | 28 356 433,89 | 1,62 |
| 5,10 % Nippon Life Insurance Co. -Reg- 2014/2044 * ......... | USD | 28 500 000 |  | 20 500 000 | % | 111,398 | 31 748 572,50 | 1,82 |

| Wertpapierbezeichnung | Stück bzw. Anteile bzw. Währung | Nominalbetrag  Käufe/	Verkäufe/ bzw.	Zugänge	Abgänge Bestand	im Berichtszeitraum | Kurs | Kurswert in USD | %-Anteil am Fonds- vermögen |
| --- | --- | --- | --- | --- | --- |
| 1,65 | % PayPal Holdings, Inc. (MTN) 2020/2025 ................... | USD | 13 485 000 | 13 485 000 |  | % | 103,503 | 13 957 379,55 | 0,80 |
| 1,35 | % PayPal Holdings, Inc. 2020/2023 .............................. | USD | 8 335 000 | 8 335 000 |  | % | 101,974 | 8 499 532,90 | 0,49 |
| 4,00 | % Takeda Pharmaceutical Co., Ltd 2019/2021 ............. | USD | 1 200 000 | 1 200 000 |  | % | 104,335 | 1 252 020,00 | 0,07 |
| 3,025 | % Takeda Pharmaceutical Co., Ltd 2020/2040 ............. | USD | 6 665 000 | 6 665 000 |  | % | 100,404 | 6 691 893,28 | 0,38 |
| 2,375 | % Temasek Financial I Ltd-Reg- (MTN) 2012/2023 ...... | USD | 3 000 000 | 3 000 000 |  | % | 104,346 | 3 130 380,00 | 0,18 |
| 0,50 | % United States Treasury Note/Bond (MTN) |  |  |  |  |  |  |  |  |
|  | 2020/2025 ................................................................. | USD | 100 000 000 | 100 000 000 |  | % | 101,133 | 101 132 813,00 | 5,78 |
| 0,25 | % United States Treasury Note/Bond (MTN) |  |  |  |  |  |  |  |  |
|  | 2020/2025 ................................................................. | USD | 20 000 000 | 20 000 000 |  | % | 99,949 | 19 989 843,80 | 1,14 |
| 8,25 | % Vedanta Resources PLC -Reg- (MTN) 2011/2021 ** | USD | 59 600 000 | 11 800 000 |  | % | 87,601 | 52 210 196,00 | 2,98 |
| 4,50 | % Woodside Finance Ltd -Reg- (MTN) 2019/2029 ....... | USD | 37 350 000 | 10 000 000 | 5 450 000 | % | 108,456 | 40 508 129,25 | 2,32 |

Summe Wertpapiervermögen	1 702 887 116,12	97,32
Derivate
(Bei den mit Minus gekennzeichneten Beständen handelt es sich um verkaufte Positionen)
| Devisen-Derivate Forderungen/Verbindlichkeiten |  |  | -2 918 143,37 | -0,17 |
| --- | --- | --- | --- | --- |
| Devisentermingeschäfte |  |  |  |  |
| Devisentermingeschäfte (Kauf) |  |  |  |  |
| Offene Positionen AUD/USD 28,5 Mio.  ...............................  |  |  | -134 661,70 | -0,01 |
| CHF/USD 3,5 Mio. .................................  |  |  | -2 351,28 | 0,00 |
| CNH/USD 195,1 Mio.  ..............................  |  |  | 61 533,68 | 0,00 |
| EUR/USD 415,2 Mio.  ..............................  |  |  | -2 731 868,16 | -0,16 |
| HKD/USD 12,1 Mio.  ...............................  |  |  | -16,21 | 0,00 |
| SGD/USD 37,9 Mio.  ...............................  |  |  | -74 119,90 | 0,00 |
| GBP/USD 0,4 Mio. .................................  |  |  | -11 981,63 | 0,00 |
| Geschlossene Positionen SGD/USD 0,6 Mio.  ................................  |  |  | -487,91 | 0,00 |
| Devisentermingeschäfte (Verkauf) |  |  |  |  |
| Geschlossene Positionen USD/EUR 7,1 Mio...................................  |  |  | -24 190,26 | 0,00 |
| Bankguthaben |  |  | 53 393 029,48 | 3,05 |
| Verwahrstelle (täglich fällig) EUR-Guthaben ....................................  | EUR | 156 609 | 175 519,81 | 0,01 |
| Guthaben in sonstigen EU/EWR-Währungen |  |  |  |  |
| Britisches Pfund ...................................  | GBP | 346 379 | 426 046,78 | 0,02 |
| Guthaben in Nicht-EU/EWR-Währungen |  |  |  |  |
| Australischer Dollar ................................  | AUD | 169 097 | 116 118,57 | 0,01 |
| Chinesischer Renminbi ..............................  | CNY | 488 000 | 68 984,05 | 0,00 |
| Hongkong Dollar ...................................  | HKD | 2 458 | 317,20 | 0,00 |
| Schweizer Franken .................................  | CHF | 97 940 | 103 089,31 | 0,01 |
| Singapur Dollar ....................................  | SGD | 301 000 | 215 585,25 | 0,01 |
| US-Dollar .........................................  | USD |  | 52 287 368,51 | 2,99 |
| Sonstige Vermögensgegenstände |  |  | 20 872 218,73 | 1,19 |
| Zinsansprüche ....................................  |  |  | 19 909 395,98 | 1,14 |
| Forderungen aus der Überschreitung des „Expense Cap“ ..  |  |  | 62 253,25 | 0,00 |
| Sonstige Ansprüche ................................  |  |  | 900 569,50 | 0,05 |
| Forderungen aus Anteilscheingeschäften |  |  | 21 979 908,13 | 1,26 |
| Summe der Vermögensgegenstände *** |  |  | 1 799 193 806,14 | 102,82 |
| Sonstige Verbindlichkeiten |  |  | -17 401 906,20 | -0,99 |
| Andere sonstige Verbindlichkeiten .....................  |  |  | -17 401 906,20 | -0,99 |
| Verbindlichkeiten aus Anteilscheingeschäften |  |  | -28 971 748,97 | -1,66 |
| Summe der Verbindlichkeiten |  |  | -49 353 332,22 | -2,82 |
| Fondsvermögen |  |  | 1 749 840 473,92 | 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 AUD LDMH .................................  | AUD | 100,43 |
| Klasse CHF LCH ...................................  | CHF | 97,78 |
| Klasse CHF TFCH ..................................  | CHF | 98,31 |
| Klasse RMB FCH350 ...............................  | CNY | 106,32 |
| Klasse RMB FCH700 ...............................  | CNY | 106,53 |
| Klasse FCH .......................................  | EUR | 132,56 |
| Klasse FCH100 ....................................  | EUR | 99,12 |
| Klasse IDH .......................................  | EUR | 94,01 |
| Klasse LCH .......................................  | EUR | 99,24 |
| Klasse LDH .......................................  | EUR | 92,39 |
| Klasse LDMH .....................................  | EUR | 99,02 |
| Klasse NCH ......................................  | EUR | 103,82 |
| Klasse TFCH ......................................  | EUR | 101,07 |
| Klasse TFDH ......................................  | EUR | 90,80 |
| Klasse TFDMH ....................................  | EUR | 99,81 |
| Klasse GBP TFDMH ................................  | GBP | 98,12 |
| Klasse HKD LDM ..................................  | HKD | 98,95 |
| Klasse HKD LDMH .................................  | HKD | 101,67 |
| Klasse HKD TFDMH ................................  | HKD | 109,76 |
| Klasse SGD LDM ..................................  | SGD | 10,92 |
| Klasse SGD LDMH .................................  | SGD | 9,82 |
| Klasse SGD TFDMH ................................  | SGD | 10,20 |
| Klasse USD FC ....................................  | USD | 147,64 |
| Klasse USD FC50 ..................................  | USD | 107,16 |
| Klasse USD IC ....................................  | USD | 113,83 |
| Klasse USD IC100 .................................  | USD | 114,84 |
| Klasse USD LC ....................................  | USD | 106,51 |
| Klasse USD LDM ..................................  | USD | 96,95 |
| Klasse USD TFC ...................................  | USD | 108,63 |
| Klasse USD TFDM .................................  | USD | 100,02 |
| Klasse USD XC ....................................  | USD | 114,45 |
| Umlaufende Anteile Klasse AUD LDMH .................................  | Stück | 282 311,896 |
| Klasse CHF LCH ...................................  | Stück | 1 612,000 |
| Klasse CHF TFCH ..................................  | Stück | 34 312,000 |
| Klasse RMB FCH350 ...............................  | Stück | 760,000 |
| Klasse RMB FCH700 ...............................  | Stück | 1 836 276,486 |
| Klasse FCH .......................................  | Stück | 700 648,901 |
| Klasse FCH100 ....................................  | Stück | 225 354,000 |
| Klasse IDH .......................................  | Stück | 1 298 904,000 |
| Klasse LCH .......................................  | Stück | 659 185,241 |
| Klasse LDH .......................................  | Stück | 212 158,029 |
| Klasse LDMH .....................................  | Stück | 172 198,793 |
| Klasse NCH ......................................  | Stück | 95 758,000 |
| Klasse TFCH ......................................  | Stück | 605 272,892 |
| Klasse TFDH ......................................  | Stück | 42 967,361 |
| Klasse TFDMH ....................................  | Stück | 21 446,148 |
| Klasse GBP TFDMH ................................  | Stück | 4 523,168 |
| Klasse HKD LDM ..................................  | Stück | 4 122 727,909 |
| Klasse HKD LDMH .................................  | Stück | 117 210,147 |
| Klasse HKD TFDMH ................................  | Stück | 900,000 |
| Klasse SGD LDM ..................................  | Stück | 64 763,945 |
| Klasse SGD LDMH .................................  | Stück | 3 000 167,893 |
| Klasse SGD TFDMH ................................  | Stück | 817 805,912 |
| Klasse USD FC ....................................  | Stück | 1 241 677,800 |
| Klasse USD FC50 ..................................  | Stück | 273 941,356 |
| Klasse USD IC ....................................  | Stück | 1 172 642,000 |
| Klasse USD IC100 .................................  | Stück | 1 384 886,000 |
| Klasse USD LC ....................................  | Stück | 1 303 740,783 |
| Klasse USD LDM ..................................  | Stück | 2 884 068,583 |
| Klasse USD TFC ...................................  | Stück | 259 843,780 |
| Klasse USD TFDM .................................  | Stück | 1 290 104,297 |
| Klasse USD XC ....................................  | Stück | 601 822,549 |

Zusammensetzung des Referenzportfolios (gem. CSSF-Rundschreiben 11/512) JPMorgan ASIA CREDIT INDEX in USD (hedged) TR – JACI Index
Potenzieller Risikobetrag für das Marktrisiko (gem. CSSF-Rundschreiben 11/512)
| kleinster potenzieller Risikobetrag .....................  | % | 96,210 |
| --- | --- | --- |
| größter potenzieller Risikobetrag ......................  | % | 189,228 |
| durchschnittlicher potenzieller Risikobetrag ..............  | % | 121,557 |

Die Risikokennzahlen wurden für den Zeitraum vom 1.1.2020 bis 30.6.2020 auf Basis der Methode der historischen Simulation mit den Parametern 99% Konfidenzniveau, 10 Tage Haltedauer unter Verwendung eines effektiven, historischen Beobachtungszeitraumes von einem Jahr berechnet. Als Bewertungsmaßstab wird das Risiko eines derivatefreien Vergleichsvermögens herangezogen. Unter dem Marktrisiko versteht man das Risiko, das sich aus der ungünstigsten Entwicklung von Marktpreisen für das Fondsvermögen ergibt. Bei der Ermittlung des Marktrisikopotenzials wendet die Gesellschaft den relativen Value at Risk-Ansatzim Sinne des CSSF-Rundschreibens 11/512 an.
Die durchschnittliche Hebelwirkung aus der Nutzung von Derivaten betrug im Berichtszeitraum 0,0, wobei zur Berechnung die Summe der Nominalbeträge der Derivate in Relation zum Fondsvermögen gesetzt wurde (Nominalwertmethode).
Das durch Derivate erzielte zugrundeliegende Exposure gem. Punkt 40 a) der „Leitlinien zu börsengehandelten Indexfonds und anderen OGAW-Themen“ der European Securities and Markets Authority (ESMA) belief sich zum Berichtsstichtag unter Zugrundelegung einer Bruttobetrachtung auf USD 0,00. Ohne Berücksichtigung gegebenenfalls auf Ebene von Anteilklassen zum Zwecke der Währungsabsicherung abgeschlossener Devisentermingeschäfte.
 Marktschlüssel	 Vertragspartner der Devisentermingeschäfte
BNP Paribas SA, Bofa Securities Europe, Citigroup Global Markets Limited, Goldman Sachs International, JP Morgan, Royal Bank of Canada (UK), State Street Bank London und UBS AG

####  Erläuterungen zu den Wertpapier-Darlehen	
Folgende Wertpapiere sind zum Berichtsstichtag als Wertpapier-Darlehen übertragen:
| Wertpapierbezeichnung | Währung | Nominalbetrag bzw. Bestand | Wertpapier-Darlehen Kurswert in EUR unbefristet | gesamt |
| --- | --- | --- | --- | --- |
| 6,625 % Barminco Finance Pty Ltd -Reg- (MTN) 2017/2022 ................................................................. | USD | 500 000 | 497 907,50 |  |
| 2,375 % Export-Import Bank of Korea (MTN) 2019/2024 ....... | USD | 1 100 000 | 1 161 814,50 |  |
| 5,25 % Greenko Dutch BV -Reg- (MTN) 2017/2024 ............. 6,375 % Indo Energy Finance II BV -Reg- (MTN) 2013/2023 ................................................................. | USD USD | 1 500 000 4 500 000 | 1 486 717,50 4 204 980,00 |  |
| 8,25 % Vedanta Resources PLC -Reg- (MTN) 2011/2021 .... | USD | 1 500 000 | 1 314 015,00 |  |
| Gesamtbetrag der Rückerstattungsansprüche aus Wertpapier-Darlehen | 8 665 434,50 | 8 665 434,50 |
| Vertragspartner der Wertpapier-Darlehen Barclays Capital Securities Limited, Deutsche Bank AG FI |  |  |
| Gesamtbetrag der bei Wertpapier-Darlehen von Dritten gewährten Sicherheiten davon: Schuldverschreibungen | EUR EUR | 8 850 523,02 5 759 975,00 |
| Aktien | EUR | 3 090 548,02 |

 Devisenkurse (in Mengennotiz)	
per 30.6.2020
| Australischer Dollar	AUD | 1,456240 | = USD | 1 |
| --- | --- | --- | --- |
| Schweizer Franken	CHF | 0,950050 | = USD | 1 |
| Chinesischer Renminbi	CNY | 7,074100 | = USD | 1 |
| Euro	EUR | 0,892260 | = USD | 1 |
| Britisches Pfund	GBP | 0,813008 | = USD | 1 |
| Hongkong Dollar	HKD | 7,750350 | = USD | 1 |
| Singapur Dollar	SGD | 1,396200 | = USD | 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	
* Variabler Zinssatz.
** Diese Wertpapiere sind ganz oder teilweise verliehen.
*** Beinhaltet, sofern vorhanden, keine Positionen mit negativem Bestand.