# DWS Invest Multi Asset Moderate Income (in liquidation)
DWS INVEST MULTI ASSET MODERATE INCOME (IN LIQUIDATION)

### Performance of share classes (in euro)
| Share class | ISIN | Since the beginning of the shortened fiscal year |
| --- | --- | --- |
| Class LC | LU1054319964 | 1.5% |
| Class LD | LU1054320038 | 1.5% |
| Class NC | LU1054320111 | 1.5% |
| Class PFC | LU1217771937 | 1.5% |

“BVI method” performance, i.e., excluding the initial sales charge. Past performance is no guide to future results.
As of: February 11, 2020 (liquidation date)
The format used for complete dates
in security names in the investment
portfolio is “day/month/year”.
DWS Invest Multi Asset Moderate Income (in liquidation)
| Statement of assets as of February 11, 2020 (liquidation date) |  |
| --- | --- |
|  | Amount in EUR | % of net assets |
| I. Assets |  |  |
| 1. Equities (sectors): Information Technology | 266 954.53 | 1.18 |
| Telecommunication Services | 347 282.95 | 1.53 |
| Consumer Discretionaries | 1 172 621.70 | 5.19 |
| Energy | 223 097.49 | 0.98 |
| Consumer Staples | 502 231.19 | 2.19 |
| Financials | 437 149.72 | 1.94 |
| Basic Materials | 233 089.42 | 1.03 |
| Industrials | 166 168.89 | 0.72 |
| Utilities | 199 145.26 | 0.87 |
| Total equities | 3 547 741.15 | 15.63 |
| 2. Bonds (issuers) Central governments | 1 006 601.02 | 4.43 |
| Total bonds | 1 006 601.02 | 4.43 |
| 3. Investment fund units Bond funds | 14 489 489.03 | 63.64 |
| Equity funds | 1 172 678.30 | 5.15 |
| Other funds | 1 130 843.21 | 4.96 |
| Total investment fund units | 16 793 010.54 | 73.75 |
| 4. Cash at bank | 1 445 088.93 | 6.35 |
| 5. Other assets | 53 194.44 | 0.23 |
| II. Liabilities |  |  |
| 1. Other liabilities | -88 947.43 | - 0.39 |
| III. Net assets | 22 756 688.65 | 100.00 |
| Negligible rounding errors may have arisen due to the rounding of calculated percentages. |  |  |

Investment portfolio – February 11, 2020 (liquidation date)
| Securities traded on an exchange |  |  |  |  | 4 554 342.17 | 20.01 |
| --- | --- | --- | --- | --- | --- | --- |
| Equities AGL Energy Ltd ....................................  | Count | 1 127 | AUD | 19.41 | 13 461.78 | 0.06 |
| BHP Billiton Ltd ....................................  | Count | 696 | AUD | 38.4 | 16 541.35 | 0.07 |
| Bluescope Steel Ltd ................................  | Count | 1 567 | AUD | 13.99 | 13 473.11 | 0.06 |
| Coles Group Ltd ...................................  | Count | 1 945 | AUD | 17.04 | 20 583.28 | 0.09 |
| Fortescue Metals Group Ltd ..........................  | Count | 2 616 | AUD | 10.85 | 17 913.33 | 0.08 |
| Bank of Nova Scotia/The .............................  | Count | 364 | CAD | 74.39 | 18 686.34 | 0.08 |
| Canadian Imperial Bank of Commerce/Canada ............  | Count | 168 | CAD | 109.93 | 12 803.53 | 0.06 |
| Canadian Natural Resources Ltd .......................  | Count | 530 | CAD | 38.6 | 14 338.33 | 0.06 |
| IA Financial Corp., Inc................................  | Count | 282 | CAD | 75.51 | 14 643.94 | 0.06 |
| Imperial Oil Ltd ....................................  | Count | 497 | CAD | 31.02 | 10 800.99 | 0.05 |
| Magna International, Inc..............................  | Count | 680 | CAD | 67.53 | 31 791.71 | 0.14 |
| Manulife Financial Corp. .............................  | Count | 1 227 | CAD | 26.39 | 22 580.78 | 0.10 |
| Power Corp. of Canada ..............................  | Count | 670 | CAD | 34.13 | 15 807.56 | 0.07 |
| Sun Life Financial, Inc. ..............................  | Count | 408 | CAD | 64.5 | 18 169.50 | 0.08 |
| Baloise Holding AG .................................  | Count | 100 | CHF | 180.6 | 16 900.41 | 0.07 |
| Novartis AG .......................................  | Count | 473 | CHF | 94.11 | 42 393.33 | 0.19 |
| Roche Holding AG ..................................  | Count | 167 | CHF | 338.5 | 53 177.54 | 0.23 |
| Swiss Life Holding AG ..............................  | Count | 32 | CHF | 505.4 | 15 217.11 | 0.07 |
| Zurich Insurance Group AG ...........................  | Count | 88 | CHF | 419.9 | 34 831.33 | 0.15 |
| Novo Nordisk A/S ..................................  | Count | 578 | DKK | 431.35 | 33 571.98 | 0.15 |
| ACS Actividades de Construccion y Servicios SA..........  | Count | 564 | EUR | 30.44 | 17 670.12 | 0.08 |
| Allianz SE.........................................  | Count | 224 | EUR | 227.35 | 51 408.00 | 0.23 |
| Aroundtown SA ....................................  | Count | 1 479 | EUR | 8.578 | 12 686.86 | 0.06 |
| Assicurazioni Generali SpA ...........................  | Count | 937 | EUR | 18.43 | 17 371.98 | 0.08 |
| Atos SE ..........................................  | Count | 175 | EUR | 80.66 | 14 105.00 | 0.06 |
| AXA SA ..........................................  | Count | 635 | EUR | 24.85 | 15 995.65 | 0.07 |
| Bouygues SA......................................  | Count | 430 | EUR | 37.37 | 16 241.10 | 0.07 |
| Cie Générale des Etablissements Michelin SCA. . . . . . . . . . . | Count | 338 | EUR | 106.75 | 35 033.70 | 0.15 |
| Covestro AG ......................................  | Count | 423 | EUR | 37.92 | 16 272.81 | 0.07 |
| Endesa SA ........................................  | Count | 655 | EUR | 25.03 | 16 440.50 | 0.07 |
| Enel SpA .........................................  | Count | 4 686 | EUR | 8.182 | 38 753.22 | 0.17 |
| Hannover Rueck SE.................................  | Count | 68 | EUR | 186.6 | 12 784.00 | 0.06 |
| HeidelbergCement AG ..............................  | Count | 263 | EUR | 64.02 | 16 974.02 | 0.07 |
| Iberdrola SA.......................................  | Count | 6 505 | EUR | 10.33 | 68 335.03 | 0.30 |
| Koninklijke Ahold Delhaize NV.........................  | Count | 1 921 | EUR | 22.37 | 42 588.57 | 0.19 |
| OMV AG .........................................  | Count | 269 | EUR | 43.46 | 11 728.40 | 0.05 |
| Peugeot SA .......................................  | Count | 1 133 | EUR | 18.935 | 21 617.64 | 0.09 |
| Randstad Holding NV ...............................  | Count | 217 | EUR | 52.66 | 11 218.90 | 0.05 |
| Red Electrica Corp., SA ..............................  | Count | 999 | EUR | 18.3 | 18 491.49 | 0.08 |
| Sanofi............................................  | Count | 93 | EUR | 92.93 | 8 696.43 | 0.04 |
| Snam SpA ........................................  | Count | 4 133 | EUR | 5.054 | 21 053.50 | 0.09 |
| Total SA ..........................................  | Count | 407 | EUR | 44.815 | 18 341.46 | 0.08 |
| Unilever NV .......................................  | Count | 758 | EUR | 54.48 | 41 455.02 | 0.18 |
| Uniper SE ........................................  | Count | 358 | EUR | 29.59 | 10 704.20 | 0.05 |
| UPM-Kymmene Oyj ................................  | Count | 1 331 | EUR | 29.62 | 40 182.89 | 0.18 |
| Valeo SA .........................................  | Count | 429 | EUR | 26.81 | 11 544.39 | 0.05 |
| 3i Group PLC ......................................  | Count | 1 019 | GBP | 11.45 | 13 980.12 | 0.06 |
| Anglo American PLC ................................  | Count | 741 | GBP | 20.165 | 18 035.93 | 0.08 |
| Ashtead Group PLC.................................  | Count | 855 | GBP | 26.64 | 27 307.68 | 0.12 |
| AstraZeneca PLC...................................  | Count | 178 | GBP | 76.44 | 16 258.56 | 0.07 |
| British American Tobacco PLC ........................  | Count | 985 | GBP | 34.39 | 40 494.17 | 0.18 |
| BT Group PLC .....................................  | Count | 9 209 | GBP | 1.544 | 16 888.65 | 0.07 |
| GlaxoSmithKline PLC................................  | Count | 391 | GBP | 17.078 | 7 934.43 | 0.03 |
| ITV PLC ..........................................  | Count | 7 103 | GBP | 1.354 | 11 440.05 | 0.05 |
| Mondi PLC........................................  | Count | 698 | GBP | 16.53 | 13 999.61 | 0.06 |
| Persimmon PLC ...................................  | Count | 700 | GBP | 30.79 | 25 831.18 | 0.11 |
| Prudential PLC.....................................  | Count | 611 | GBP | 14.63 | 10 725.79 | 0.05 |
| Rio Tinto PLC......................................  | Count | 222 | GBP | 41.185 | 11 011.23 | 0.05 |
| Royal Dutch Shell PLC ..............................  | Count | 1 110 | GBP | 19.642 | 26 253.18 | 0.12 |
| TUI AG...........................................  | Count | 1 096 | GBP | 8.576 | 12 318.10 | 0.05 |
| WPP PLC.........................................  | Count | 1 114 | GBP | 9.722 | 12 903.97 | 0.06 |
| i-CABLE Communications Ltd .........................  | Count | 979 | HKD | 0.073 | 8.08 | 0.00 |
| Asahi Group Holdings Ltd ............................  | Count | 200 | JPY | 5 165 | 8 613.83 | 0.04 |
| Astellas Pharma, Inc.................................  | Count | 2 200 | JPY | 1 982 | 36 359.87 | 0.16 |
| Daiwa House Industry Co., Ltd ........................  | Count | 1 300 | JPY | 3 562 | 38 612.97 | 0.17 |
| Fujitsu Ltd ........................................  | Count | 200 | JPY | 12 615 | 21 038.42 | 0.09 |
| ITOCHU Corp. .....................................  | Count | 2 300 | JPY | 2 640.5 | 50 641.90 | 0.22 |
| MS&AD Insurance Group Holdings, Inc..................  | Count | 400 | JPY | 3 745 | 12 491.30 | 0.05 |
| Nippon Telegraph & Telephone Corp. ...................  | Count | 2 000 | JPY | 2 835 | 47 280.17 | 0.21 |
| NTT DOCOMO, Inc. ................................  | Count | 1 900 | JPY | 3 130 | 49 589.98 | 0.22 |
| Obayashi Corp. ....................................  | Count | 1 300 | JPY | 1 264 | 13 702.08 | 0.06 |
| Sekisui House Ltd ..................................  | Count | 400 | JPY | 2 430 | 8 105.17 | 0.04 |
| Shionogi & Co., Ltd .................................  | Count | 100 | JPY | 6 697 | 5 584.40 | 0.02 |
| Sony Corp.........................................  | Count | 100 | JPY | 7 691 | 6 413.26 | 0.03 |
| Tokio Marine Holdings, Inc............................  | Count | 100 | JPY | 6 214 | 5 181.64 | 0.02 |
| Boliden AB........................................  | Count | 525 | SEK | 234.2 | 11 776.16 | 0.05 |
| SKF AB ..........................................  | Count | 656 | SEK | 192.95 | 12 139.54 | 0.05 |

| Volvo AB .........................................  | Count | 2 384 |  | SEK | 172.6 | 39 165.90 | 0.17 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| AbbVie, Inc. .......................................  | Count | 1 049 |  | USD | 94.85 | 92 315.85 | 0.41 |
| AES Corp./VA .....................................  | Count | 627 |  | USD | 20.43 | 11 905.54 | 0.05 |
| Altria Group, Inc. ...................................  | Count | 1 279 |  | USD | 46.17 | 53 760.17 | 0.24 |
| Amgen, Inc. .......................................  | Count | 406 |  | USD | 227.02 | 84 378.85 | 0.37 |
| Applied Materials, Inc................................  | Count | 411 |  | USD | 62.12 | 24 106.73 | 0.11 |
| AT&T, Inc. ........................................  | Count | 1 870 |  | USD | 38.33 | 66 340.48 | 0.29 |
| Biogen Idec, Inc. ...................................  | Count | 129 |  | USD | 336.67 | 40 134.12 | 0.18 |
| BorgWarner, Inc. ...................................  | Count | 327 |  | USD | 33.58 | 10 025.61 | 0.04 |
| Bristol-Myers Squibb Co..............................  | Count | 330 |  | USD | 66.28 | 20 245.74 | 0.09 |
| Broadcom, Inc. ....................................  | Count | 44 |  | USD | 312.74 | 12 829.71 | 0.06 |
| Cardinal Health, Inc. ................................  | Count | 194 |  | USD | 59.56 | 10 517.22 | 0.05 |
| Carnival Corp. .....................................  | Count | 317 |  | USD | 42 | 12 470.99 | 0.05 |
| Celanese Corp. ....................................  | Count | 220 |  | USD | 108.03 | 21 814.65 | 0.10 |
| Cisco Systems, Inc..................................  | Count | 898 |  | USD | 48.16 | 40 599.14 | 0.18 |
| Coca-Cola Co./The ..................................  | Count | 951 |  | USD | 59.435 | 51 904.40 | 0.23 |
| Comcast Corp......................................  | Count | 767 |  | USD | 44.51 | 31 231.38 | 0.14 |
| Cummins, Inc. .....................................  | Count | 295 |  | USD | 161.27 | 44 344.56 | 0.19 |
| Delta Air Lines, Inc. .................................  | Count | 339 |  | USD | 57.77 | 18 126.57 | 0.08 |
| DR Horton, Inc. ....................................  | Count | 625 |  | USD | 61.37 | 35 428.12 | 0.16 |
| Eaton Corp., PLC ...................................  | Count | 605 |  | USD | 101.86 | 57 447.30 | 0.25 |
| Exxon Mobil Corp. ..................................  | Count | 1 143 |  | USD | 59.98 | 63 451.16 | 0.28 |
| FNF Group ........................................  | Count | 298 |  | USD | 45.33 | 12 430.31 | 0.05 |
| Gilead Sciences, Inc. ................................  | Count | 1 083 |  | USD | 68.91 | 68 064.37 | 0.30 |
| HCA, Inc. .........................................  | Count | 268 |  | USD | 145.97 | 36 422.97 | 0.16 |
| Hewlett Packard Enterprise Co. .......................  | Count | 2 323 |  | USD | 14.71 | 31 717.89 | 0.14 |
| HollyFrontier Corp. .................................  | Count | 278 |  | USD | 43.25 | 11 153.10 | 0.05 |
| Huntington Bancshares Inc/OH........................  | Count | 989 |  | USD | 13.915 | 12 770.06 | 0.06 |
| Intel Corp. ........................................  | Count | 681 |  | USD | 65.81 | 41 639.54 | 0.18 |
| International Business Machines Corp...................  | Count | 129 |  | USD | 153.01 | 18 215.94 | 0.08 |
| Interpublic Group of Cos, Inc./The .....................  | Count | 738 |  | USD | 22.96 | 15 672.36 | 0.07 |
| Invesco Ltd .......................................  | Count | 760 |  | USD | 18.24 | 13 126.01 | 0.06 |
| KeyCorp. .........................................  | Count | 857 |  | USD | 19.53 | 15 436.99 | 0.07 |
| Kroger Co./The ....................................  | Count | 1 380 |  | USD | 27.995 | 35 751.10 | 0.16 |
| Lam Research Corp. ................................  | Count | 143 |  | USD | 315.48 | 42 480.96 | 0.19 |
| Lear Corp. ........................................  | Count | 116 |  | USD | 120.81 | 12 929.96 | 0.06 |
| Lockheed Martin Corp. ..............................  | Count | 14 |  | USD | 439.25 | 5 650.90 | 0.02 |
| LyondellBasell Industries NV..........................  | Count | 528 |  | USD | 82.6 | 40 629.89 | 0.18 |
| ManpowerGroup, Inc. ...............................  | Count | 158 |  | USD | 92.43 | 13 430.00 | 0.06 |
| Merck & Co., Inc. ..................................  | Count | 578 |  | USD | 85.47 | 45 213.15 | 0.20 |
| Owens Corning ....................................  | Count | 270 |  | USD | 61.515 | 15 475.55 | 0.07 |
| PACCAR, Inc. .....................................  | Count | 621 |  | USD | 75.04 | 42 924.07 | 0.19 |
| PepsiCo, Inc. ......................................  | Count | 287 |  | USD | 145.94 | 38 216.73 | 0.17 |
| Pfizer, Inc. ........................................  | Count | 1 186 |  | USD | 37.94 | 41 178.75 | 0.18 |
| Philip Morris International, Inc. ........................  | Count | 182 |  | USD | 87.38 | 14 931.67 | 0.07 |
| Phillips 66 ........................................  | Count | 331 |  | USD | 90.78 | 27 249.91 | 0.12 |
| Principal Financial Group, Inc. .........................  | Count | 249 |  | USD | 55.3 | 12 880.96 | 0.06 |
| Procter & Gamble Co. ...............................  | Count | 693 |  | USD | 126.55 | 79 530.01 | 0.35 |
| PulteGroup, Inc.....................................  | Count | 472 |  | USD | 46.64 | 20 202.64 | 0.09 |
| Regions Financial Corp. ..............................  | Count | 915 |  | USD | 16.25 | 13 792.03 | 0.06 |
| Seagate Technology PLC ............................  | Count | 533 |  | USD | 54.26 | 27 235.72 | 0.12 |
| Snap-on, Inc. ......................................         | Count | 76 |  | USD | 155.1 | 10 868.28 | 0.05 |
| Southwest Airlines Co. ..............................  | Count | 236 |  | USD | 56.75 | 12 549.93 | 0.06 |
| Steel Dynamics, Inc. ................................  | Count | 420 |  | USD | 29.07 | 11 438.46 | 0.05 |
| Texas Instruments, Inc...............................  | Count | 280 |  | USD | 128.4 | 33 584.62 | 0.15 |
| Truist Financial Corp. ................................  | Count | 207 |  | USD | 54.07 | 10 370.85 | 0.05 |
| Tyson Foods, Inc. ..................................  | Count | 406 |  | USD | 80.66 | 30 992.82 | 0.14 |
| United Continental Holdings, Inc. ......................  | Count | 164 |  | USD | 78.29 | 12 152.82 | 0.05 |
| United Rentals, Inc. .................................  | Count | 137 |  | USD | 149.65 | 19 395.79 | 0.09 |
| Valero Energy Corp..................................  | Count | 520 |  | USD | 84.03 | 39 780.96 | 0.17 |
| Verizon Communications, Inc..........................  | Count | 1 009 |  | USD | 59.94 | 55 328.69 | 0.24 |
| Western Union Co./The..............................  | Count | 932 |  | USD | 27.83 | 24 076.67 | 0.11 |
| Interest-bearing securities 2.125 % United States Treasury Note/Bond (MTN) 2014/2021 | USD | 196 200 |  | % | 100.574 | 180 698.54 | 0.79 |
| 2.00 % United States Treasury Note/Bond (MTN) 2014/2021 | USD | 395 100 |  | % | 100.498 | 363 608.16 | 1.60 |
| 2.25 % United States Treasury Note/Bond (MTN) 2014/2021 | USD | 193 600 |  | % | 100.836 | 178 750.65 | 0.79 |
| 2.25 % United States Treasury Note/Bond (MTN) 2015/2025 | USD | 192 300 |  | % | 104.449 | 183 775.73 | 0.81 |
| 1.375 % United States Treasury Note/Bond (MTN) 2016/2021 | USD | 109 100 |  | % | 99.861 | 99 767.94 | 0.44 |
| Investment fund units |  |  |  |  |  | 16 793 010.54 | 73.79 |
| In-group fund units db x-trackers - MSCI Emerging Markets Index UCITS ETF -1C- EUR - (0.490%) ....................................  | Units | 12 947 |  | EUR | 42.915 | 564 074.90 | 2.48 |
| Deutsche Global Liquidity Series Plc - Managed Euro Fund -Z- EUR - (0.000%) ....................................  | Units | 115 | 1 | EUR | 9 833.549 | 1 130 843.21 | 4.96 |
| DWS Floating Rate Notes FCP -LC- EUR - (0.200%) .......  | Units | 8 080 |  | EUR | 84.11 | 679 608.80 | 2.99 |
| DWS Invest SICAV - Convertibles -FC- EUR - (0.740%) ..... DWS Invest SICAV - DWS Invest SICAV Global Infrastructure -FC- EUR - (0.900%) ................................  | Units Units | 7 449 3 060 |  | EUR EUR | 193.26 198.24 | 1 441 158.03 608 603.40 | 6.33 2.67 |
| DWS Invest SICAV - Emerging Markets Opportunities -IC- EUR - (0.470%) ....................................  | Units | 27 273 |  | EUR | 105.83 | 2 880 574.26 | 12.65 |

| 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 |  |
| DWS Invest SICAV - Euro Corporate Bonds -FC- EUR - (0.700%) .........................................  | Units | 20 182 |  | EUR | 176.54 | 3 562 526.64 | 15.65 |
| DWS Invest SICAV - Invest Euro High Yield Corporates -FC- EUR - (0.750%) ....................................  | Units | 7 532 |  | EUR | 166.36 | 1 252 345.64 | 5.50 |
| db x-trackers - Barclays USD Corporate Bond UCITS ETF (DR) -1D- USD - (0.120%) ............................       | Units | 179 570 |  | USD | 16.48 | 2 711 638.80 | 11.91 |
| DWS Invest SICAV - Emerging Markets Sovereign Debt -IC- USD - (0.400%) ....................................         | Units | 15 745 |  | USD | 136.21 | 1 961 636.86 | 8.61 |
| Total securities portfolio |  |  |  |  |  | 21 347 352.71 | 93.81 |
| Cash at bank |  |  |  |  |  | 1 445 088.93 | 6.35 |
| Demand deposits at Depositary EUR deposits......................................  | EUR |  |  |  |  | 914 279.34 | 4.01 |
| Deposits in other EU/EEA currencies |  |  |  |  |  |  |  |
| Norwegian krone ...................................  | NOK | 11 662 |  |  |  | 1 155.26 | 0.01 |
| Swedish krona.....................................  | SEK | 118 533 |  |  |  | 11 266.05 | 0.05 |
| Danish krone ......................................  | DKK | 152 251 |  |  |  | 20 376.01 | 0.09 |
| British pound .....................................  | GBP | 39 507 |  |  |  | 46 907.65 | 0.21 |
| Deposits in non-EU/EEA currencies |  |  |  |  |  |  |  |
| Australian dollar ....................................         | AUD | 42 045 |  |  |  | 25 914.22 | 0.11 |
| Hong Kong dollar ..................................  | HKD | 97 982 |  |  |  | 11 554.40 | 0.05 |
| Canadian dollar ....................................  | CAD | 21 995 |  |  |  | 15 160.33 | 0.07 |
| Swiss franc .......................................  | CHF | 2 707 |  |  |  | 2 536.01 | 0.01 |
| Japanese yen .....................................  | JPY | 33 278 317 |  |  |  | 277 496.38 | 1.22 |
| U.S. dollar ........................................  | USD | 129 340 |  |  |  | 118 443.28 | 0.52 |
| Other assets |  |  |  |  |  | 53 194.44 | 0.23 |
| Dividends/Distributions receivable .....................  |  |  |  |  |  | 4 006.92 | 0.02 |
| Prepaid placement fee * .............................  |  |  |  |  |  | 4 346.11 | 0.02 |
| Interest receivable .................................  |  |  |  |  |  | 5 891.48 | 0.03 |
| Receivables from exceeding the expense cap ............  |  |  |  |  |  | 38 949.93 | 0.16 |
| Total assets |  |  |  |  |  | 22 845 636.08 | 100.39 |
| Other liabilities |  |  |  |  |  | -88 947.43 | -0.39 |
| Liabilities from cost items ............................  |  |  |  |  |  | -88 947.43 | -0.39 |
| Total liabilities |  |  |  |  |  | -88 947.43 | -0.39 |
| Net assets |  |  |  |  |  | 22 756 688.65 | 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 LC .........................................  | EUR | 111.31 |
| Class LD .........................................  | EUR | 105.73 |
| Class NC .........................................  | EUR | 109.24 |
| Class PFC ........................................  | EUR | 108.91 |
| Number of shares outstanding Class LC .........................................  | Count | 99 863.896 |
| Class LD .........................................  | Count | 1 523.000 |
| Class NC .........................................  | Count | 32 711.000 |
| Class PFC ........................................  | Count | 72 600.000 |

Composition of the reference portfolio (according to CSSF circular 11/512) iBoxx EUR Overall (65%) and MSCI THE WORLD INDEX in EUR (35%)
Market risk exposure (value-at-risk) (according to CSSF circular 11/512)
| Lowest market risk exposure .........................  | % | 0.000 |
| --- | --- | --- |
| Highest market risk exposure .........................  | % | 63.490 |
| Average market risk exposure ........................  | % | 57.094 |

The values-at-risk were calculated for the period from January 1, 2020, through February 11, 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 0.37, whereby the total of the nominal amounts of the derivatives in relation to the fund’s assets was used for the calculation (sum-of-notional approach).
The gross exposure generated via derivatives pursuant to point 40 a) of the “Guidelines on ETFs and other UCITS issues” of the European Securities and Markets Authority (ESMA) totaled EUR 0.00 as of the reporting date.
 Exchange rates (indirect quotes)	
As of February 11, 2020 (liquidation date)
| Australian dollar ..................     | AUD | 1.622465 | = | EUR | 1 |
| --- | --- | --- | --- | --- | --- |
| Canadian dollar ..................  | CAD | 1.450831 | = | EUR | 1 |
| Swiss franc .....................  | CHF | 1.067430 | = | EUR | 1 |
| Danish krone ....................  | DKK | 7.472064 | = | EUR | 1 |
| British pound ...................  | GBP | 0.842235 | = | EUR | 1 |
| Hong Kong dollar ................  | HKD | 8.480034 | = | EUR | 1 |
| Japanese yen ...................  | JPY | 119.923429 | = | EUR | 1 |
| Norwegian krone .................  | NOK | 10.094993 | = | EUR | 1 |
| Swedish krona...................  | SEK | 10.521255 | = | EUR | 1 |
| U.S. dollar ......................  | USD | 1.092000 | = | EUR | 1 |

 Notes on valuation	
Under the responsibility of the Board of Directors of the SICAV, the Management Company determines the net asset values per share and performs the valuation of the assets of the fund. The basic provision of price data and price validation are performed in accordance with the method introduced by the Board of Directors of the SICAV on the basis of the legal and regulatory requirements or the principles for valuation methods defined in the SICAV’s prospectus.
If no trading prices are available, prices are determined with the aid of valuation models (derived market values) which are agreed between State Street Bank International GmbH, Luxembourg branch, as external price service provider and the Management Company and which are based as far as possible on market parameters. This procedure is subject to an ongoing monitoring process. The plausibility of price information from third parties is checked through other pricing sources, model calculations or other suitable procedure.
Assets reported in this report are not valued at derived market values.
The management fee / all-in fee rates in effect as of the reporting date for the investment fund units held in the securities portfolio are shown in parentheses. A plus sign means that a performance-based fee may also be charged. As the investment fund held units of other investment funds (target funds) in the reporting period, further costs, charges and fees may have been incurred at the level of these individual target funds.
 Footnotes	
* The prepaid placement fee is amortized over a period of three years (as specified in article 12 (d) of the general section of the fund‘s management regulations).

Translation (ENDE, 2020-06-30):
# DWS Invest Multi Asset Moderate Income (in Auflösung)
DWS INVEST MULTI ASSET MODERATE INCOME (IN AUFLÖSUNG)

### Wertentwicklung der Anteilklassen (in EUR)

#### Anteilklasse	ISIN	seit Beginn

#### des Rumpfgeschäftsjahres

##### Klasse LC	LU1054319964	1,5%

##### Klasse LD	LU1054320038	1,5%

##### Klasse NC	LU1054320111	1,5%

##### Klasse PFC	LU1217771937	1,5%
Wertentwicklung nach BVI-Methode, d. h. ohne Berücksichtigung des Ausgabeaufschlages. Wertentwicklungen der Vergangenheit ermöglichen keine Prognose für die Zukunft.
Stand: 11.2.2020 (Auflösungsstichtag)
DWS Invest Multi Asset Moderate Income (in Auflösung)
| Vermögensübersicht zum 11.2.2020 (Auflösungsstichtag) |  |
| --- | --- |
|  | Bestand in EUR | %-Anteil am Fondsvermögen |
| I. Vermögensgegenstände |  |  |
| 1. Aktien (Branchen) Informationstechnologie | 266 954,53 | 1,18 |
| Telekommunikationsdienste | 347 282,95 | 1,53 |
| Dauerhafte Konsumgüter | 1 172 621,70 | 5,19 |
| Energie | 223 097,49 | 0,98 |
| Hauptverbrauchsgüter | 502 231,19 | 2,19 |
| Finanzsektor | 437 149,72 | 1,94 |
| Grundstoffe | 233 089,42 | 1,03 |
| Industrien | 166 168,89 | 0,72 |
| Versorger | 199 145,26 | 0,87 |
| Summe Aktien | 3 547 741,15 | 15,63 |
| 2. Anleihen (Emittenten) Zentralregierungen | 1 006 601,02 | 4,43 |
| Summe Anleihen | 1 006 601,02 | 4,43 |
| 3. Investmentanteile Rentenfonds | 14 489 489,03 | 63,64 |
| Aktienfonds | 1 172 678,30 | 5,15 |
| Sonstige Fonds | 1 130 843,21 | 4,96 |
| Summe Investmentanteile | 16 793 010,54 | 73,75 |
| 4. Bankguthaben | 1 445 088,93 | 6,35 |
| 5. Sonstige Vermögensgegenstände | 53 194,44 | 0,23 |
| II. Verbindlichkeiten |  |  |
| 1. Sonstige Verbindlichkeiten | -88 947,43 | - 0,39 |
| III. Fondsvermögen | 22 756 688,65 | 100,00 |
| Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein. |  |  |

Vermögensaufstellung zum 11.2.2020 (Auflösungsstichtag)
| Wertpapierbezeichnung | Stück bzw. Anteile bzw. Währung | Nominalbetrag bzw. Bestand | Käufe/ Zugänge im | Verkäufe/ Abgänge Berichtszeitraum | Währung | Kurs | Kurswert in EUR | %-Anteil am Fonds- vermögen |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Börsengehandelte Wertpapiere |  |  |  |  |  |  | 4 554 342,17 | 20,01 |
| Aktien AGL Energy Ltd ...................................  | Stück | 1 127 |  |  | AUD | 19,41 | 13 461,78 | 0,06 |
| BHP Billiton Ltd ...................................  | Stück | 696 |  |  | AUD | 38,4 | 16 541,35 | 0,07 |
| Bluescope Steel Ltd ................................  | Stück | 1 567 |  |  | AUD | 13,99 | 13 473,11 | 0,06 |
| Coles Group Ltd  ..................................  | Stück | 1 945 |  |  | AUD | 17,04 | 20 583,28 | 0,09 |
| Fortescue Metals Group Ltd .........................  | Stück | 2 616 |  |  | AUD | 10,85 | 17 913,33 | 0,08 |
| Bank of Nova Scotia/The ............................  | Stück | 364 |  |  | CAD | 74,39 | 18 686,34 | 0,08 |
| Canadian Imperial Bank of Commerce/Canada ...........  | Stück | 168 |  |  | CAD | 109,93 | 12 803,53 | 0,06 |
| Canadian Natural Resources Ltd ......................  | Stück | 530 |  |  | CAD | 38,6 | 14 338,33 | 0,06 |
| IA Financial Corp., Inc. .............................  | Stück | 282 |  |  | CAD | 75,51 | 14 643,94 | 0,06 |
| Imperial Oil Ltd ...................................  | Stück | 497 |  |  | CAD | 31,02 | 10 800,99 | 0,05 |
| Magna International, Inc. ............................  | Stück | 680 |  |  | CAD | 67,53 | 31 791,71 | 0,14 |
| Manulife Financial Corp. .............................  | Stück | 1 227 |  |  | CAD | 26,39 | 22 580,78 | 0,10 |
| Power Corp. of Canada .............................  | Stück | 670 |  |  | CAD | 34,13 | 15 807,56 | 0,07 |
| Sun Life Financial, Inc. ..............................  | Stück | 408 |  |  | CAD | 64,5 | 18 169,50 | 0,08 |
| Baloise Holding AG ................................  | Stück | 100 |  |  | CHF | 180,6 | 16 900,41 | 0,07 |
| Novartis AG ......................................  | Stück | 473 |  |  | CHF | 94,11 | 42 393,33 | 0,19 |
| Roche Holding AG .................................  | Stück | 167 |  |  | CHF | 338,5 | 53 177,54 | 0,23 |
| Swiss Life Holding AG ..............................  | Stück | 32 |  |  | CHF | 505,4 | 15 217,11 | 0,07 |
| Zurich Insurance Group AG ..........................  | Stück | 88 |  |  | CHF | 419,9 | 34 831,33 | 0,15 |
| Novo Nordisk A/S ..................................  | Stück | 578 |  |  | DKK | 431,35 | 33 571,98 | 0,15 |
| ACS Actividades de Construccion y Servicios SA .........  | Stück | 564 |  |  | EUR | 30,44 | 17 670,12 | 0,08 |
| Allianz SE ........................................  | Stück | 224 |  |  | EUR | 227,35 | 51 408,00 | 0,23 |
| Aroundtown SA ...................................  | Stück | 1 479 |  |  | EUR | 8,578 | 12 686,86 | 0,06 |
| Assicurazioni Generali SpA ...........................  | Stück | 937 |  |  | EUR | 18,43 | 17 371,98 | 0,08 |
| Atos SE ..........................................  | Stück | 175 |  |  | EUR | 80,66 | 14 105,00 | 0,06 |
| AXA SA ..........................................  | Stück | 635 |  |  | EUR | 24,85 | 15 995,65 | 0,07 |
| Bouygues SA .....................................  | Stück | 430 |  |  | EUR | 37,37 | 16 241,10 | 0,07 |
| Cie Générale des Etablissements Michelin SCA ..........  | Stück | 338 |  |  | EUR | 106,75 | 35 033,70 | 0,15 |
| Covestro AG ......................................  | Stück | 423 |  |  | EUR | 37,92 | 16 272,81 | 0,07 |
| Endesa SA .......................................  | Stück | 655 |  |  | EUR | 25,03 | 16 440,50 | 0,07 |
| Enel SpA .........................................  | Stück | 4 686 |  |  | EUR | 8,182 | 38 753,22 | 0,17 |
| Hannover Rueck SE ................................  | Stück | 68 |  |  | EUR | 186,6 | 12 784,00 | 0,06 |
| HeidelbergCement AG ..............................  | Stück | 263 |  |  | EUR | 64,02 | 16 974,02 | 0,07 |
| Iberdrola SA ......................................  | Stück | 6 505 |  |  | EUR | 10,33 | 68 335,03 | 0,30 |
| Koninklijke Ahold Delhaize NV ........................  | Stück | 1 921 |  |  | EUR | 22,37 | 42 588,57 | 0,19 |
| OMV AG .........................................  | Stück | 269 |  |  | EUR | 43,46 | 11 728,40 | 0,05 |
| Peugeot SA ......................................  | Stück | 1 133 |  |  | EUR | 18,935 | 21 617,64 | 0,09 |
| Randstad Holding NV ...............................  | Stück | 217 |  |  | EUR | 52,66 | 11 218,90 | 0,05 |
| Red Electrica Corp., SA .............................  | Stück | 999 |  |  | EUR | 18,3 | 18 491,49 | 0,08 |
| Sanofi ...........................................  | Stück | 93 |  |  | EUR | 92,93 | 8 696,43 | 0,04 |
| Snam SpA ........................................  | Stück | 4 133 |  |  | EUR | 5,054 | 21 053,50 | 0,09 |
| Total SA .........................................  | Stück | 407 |  |  | EUR | 44,815 | 18 341,46 | 0,08 |
| Unilever NV ......................................  | Stück | 758 |  |  | EUR | 54,48 | 41 455,02 | 0,18 |
| Uniper SE ........................................  | Stück | 358 |  |  | EUR | 29,59 | 10 704,20 | 0,05 |
| UPM-Kymmene Oyj ................................  | Stück | 1 331 |  |  | EUR | 29,62 | 40 182,89 | 0,18 |
| Valeo SA .........................................  | Stück | 429 |  |  | EUR | 26,81 | 11 544,39 | 0,05 |
| 3i Group PLC .....................................  | Stück | 1 019 |  |  | GBP | 11,45 | 13 980,12 | 0,06 |
| Anglo American PLC ...............................  | Stück | 741 |  |  | GBP | 20,165 | 18 035,93 | 0,08 |
| Ashtead Group PLC ................................  | Stück | 855 |  |  | GBP | 26,64 | 27 307,68 | 0,12 |
| AstraZeneca PLC ..................................  | Stück | 178 |  |  | GBP | 76,44 | 16 258,56 | 0,07 |
| British American Tobacco PLC ........................  | Stück | 985 |  |  | GBP | 34,39 | 40 494,17 | 0,18 |
| BT Group PLC ....................................  | Stück | 9 209 |  |  | GBP | 1,544 | 16 888,65 | 0,07 |
| GlaxoSmithKline PLC ...............................  | Stück | 391 |  |  | GBP | 17,078 | 7 934,43 | 0,03 |
| ITV PLC ..........................................  | Stück | 7 103 |  |  | GBP | 1,354 | 11 440,05 | 0,05 |
| Mondi PLC .......................................  | Stück | 698 |  |  | GBP | 16,53 | 13 999,61 | 0,06 |
| Persimmon PLC ...................................  | Stück | 700 |  |  | GBP | 30,79 | 25 831,18 | 0,11 |
| Prudential PLC ....................................  | Stück | 611 |  |  | GBP | 14,63 | 10 725,79 | 0,05 |
| Rio Tinto PLC .....................................  | Stück | 222 |  |  | GBP | 41,185 | 11 011,23 | 0,05 |
| Royal Dutch Shell PLC ..............................  | Stück | 1 110 |  |  | GBP | 19,642 | 26 253,18 | 0,12 |
| TUI AG ..........................................  | Stück | 1 096 |  |  | GBP | 8,576 | 12 318,10 | 0,05 |
| WPP PLC ........................................  | Stück | 1 114 |  |  | GBP | 9,722 | 12 903,97 | 0,06 |
| i-CABLE Communications Ltd ........................  | Stück | 979 |  |  | HKD | 0,073 | 8,08 | 0,00 |
| Asahi Group Holdings Ltd ...........................  | Stück | 200 |  |  | JPY | 5 165 | 8 613,83 | 0,04 |
| Astellas Pharma, Inc. ...............................  | Stück | 2 200 |  |  | JPY | 1 982 | 36 359,87 | 0,16 |
| Daiwa House Industry Co., Ltd .......................  | Stück | 1 300 |  |  | JPY | 3 562 | 38 612,97 | 0,17 |
| Fujitsu Ltd ........................................  | Stück | 200 |  |  | JPY | 12 615 | 21 038,42 | 0,09 |
| ITOCHU Corp. ....................................  | Stück | 2 300 |  |  | JPY | 2 640,5 | 50 641,90 | 0,22 |
| MS&AD Insurance Group Holdings, Inc. ................  | Stück | 400 |  |  | JPY | 3 745 | 12 491,30 | 0,05 |
| Nippon Telegraph & Telephone Corp. ..................  | Stück | 2 000 |  |  | JPY | 2 835 | 47 280,17 | 0,21 |
| NTT DOCOMO, Inc. ................................  | Stück | 1 900 |  |  | JPY | 3 130 | 49 589,98 | 0,22 |
| Obayashi Corp. ....................................  | Stück | 1 300 |  |  | JPY | 1 264 | 13 702,08 | 0,06 |
| Sekisui House Ltd .................................  | Stück | 400 |  |  | JPY | 2 430 | 8 105,17 | 0,04 |
| Shionogi & Co., Ltd ................................  | Stück | 100 |  |  | JPY | 6 697 | 5 584,40 | 0,02 |
| Sony Corp. .......................................  | Stück | 100 |  |  | JPY | 7 691 | 6 413,26 | 0,03 |
| Tokio Marine Holdings, Inc. ..........................  | Stück | 100 |  |  | JPY | 6 214 | 5 181,64 | 0,02 |
| Boliden AB  ......................................  | Stück | 525 |  |  | SEK | 234,2 | 11 776,16 | 0,05 |
| SKF AB ..........................................  | Stück | 656 |  |  | SEK | 192,95 | 12 139,54 | 0,05 |

| Stück bzw. Wertpapierbezeichnung	Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Währung | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  | Währung | Bestand | im Berichtszeitraum |  |  | EUR |  | vermögen |
| Volvo AB .........................................  | Stück | 2 384 |  | SEK | 172,6 |  | 39 165,90 | 0,17 |
| AbbVie, Inc. ......................................  | Stück | 1 049 |  | USD | 94,85 |  | 92 315,85 | 0,41 |
| AES Corp./VA .....................................  | Stück | 627 |  | USD | 20,43 |  | 11 905,54 | 0,05 |
| Altria Group, Inc. ..................................  | Stück | 1 279 |  | USD | 46,17 |  | 53 760,17 | 0,24 |
| Amgen, Inc. ......................................  | Stück | 406 |  | USD | 227,02 |  | 84 378,85 | 0,37 |
| Applied Materials, Inc. ..............................  | Stück | 411 |  | USD | 62,12 |  | 24 106,73 | 0,11 |
| AT&T, Inc. ........................................  | Stück | 1 870 |  | USD | 38,33 |  | 66 340,48 | 0,29 |
| Biogen Idec, Inc. ..................................  | Stück | 129 |  | USD | 336,67 |  | 40 134,12 | 0,18 |
| BorgWarner, Inc. ..................................  | Stück | 327 |  | USD | 33,58 |  | 10 025,61 | 0,04 |
| Bristol-Myers Squibb Co. ............................  | Stück | 330 |  | USD | 66,28 |  | 20 245,74 | 0,09 |
| Broadcom, Inc. ...................................  | Stück | 44 |  | USD | 312,74 |  | 12 829,71 | 0,06 |
| Cardinal Health, Inc. ................................  | Stück | 194 |  | USD | 59,56 |  | 10 517,22 | 0,05 |
| Carnival Corp. .....................................  | Stück | 317 |  | USD | 42 |  | 12 470,99 | 0,05 |
| Celanese Corp. ....................................  | Stück | 220 |  | USD | 108,03 |  | 21 814,65 | 0,10 |
| Cisco Systems, Inc. ................................  | Stück | 898 |  | USD | 48,16 |  | 40 599,14 | 0,18 |
| Coca-Cola Co./The .................................  | Stück | 951 |  | USD | 59,435 |  | 51 904,40 | 0,23 |
| Comcast Corp. ....................................  | Stück | 767 |  | USD | 44,51 |  | 31 231,38 | 0,14 |
| Cummins, Inc. ....................................  | Stück | 295 |  | USD | 161,27 |  | 44 344,56 | 0,19 |
| Delta Air Lines, Inc. ................................  | Stück | 339 |  | USD | 57,77 |  | 18 126,57 | 0,08 |
| DR Horton, Inc. ...................................  | Stück | 625 |  | USD | 61,37 |  | 35 428,12 | 0,16 |
| Eaton Corp., PLC ..................................  | Stück | 605 |  | USD | 101,86 |  | 57 447,30 | 0,25 |
| Exxon Mobil Corp. .................................  | Stück | 1 143 |  | USD | 59,98 |  | 63 451,16 | 0,28 |
| FNF Group .......................................  | Stück | 298 |  | USD | 45,33 |  | 12 430,31 | 0,05 |
| Gilead Sciences, Inc. ...............................  | Stück | 1 083 |  | USD | 68,91 |  | 68 064,37 | 0,30 |
| HCA, Inc. ........................................  | Stück | 268 |  | USD | 145,97 |  | 36 422,97 | 0,16 |
| Hewlett Packard Enterprise Co. .......................  | Stück | 2 323 |  | USD | 14,71 |  | 31 717,89 | 0,14 |
| HollyFrontier Corp. .................................  | Stück | 278 |  | USD | 43,25 |  | 11 153,10 | 0,05 |
| Huntington Bancshares Inc/OH .......................  | Stück | 989 |  | USD | 13,915 |  | 12 770,06 | 0,06 |
| Intel Corp. ........................................  | Stück | 681 |  | USD | 65,81 |  | 41 639,54 | 0,18 |
| International Business Machines Corp. .................  | Stück | 129 |  | USD | 153,01 |  | 18 215,94 | 0,08 |
| Interpublic Group of Cos, Inc./The .....................  | Stück | 738 |  | USD | 22,96 |  | 15 672,36 | 0,07 |
| Invesco Ltd .......................................  | Stück | 760 |  | USD | 18,24 |  | 13 126,01 | 0,06 |
| KeyCorp. .........................................  | Stück | 857 |  | USD | 19,53 |  | 15 436,99 | 0,07 |
| Kroger Co./The ....................................  | Stück | 1 380 |  | USD | 27,995 |  | 35 751,10 | 0,16 |
| Lam Research Corp. ................................  | Stück | 143 |  | USD | 315,48 |  | 42 480,96 | 0,19 |
| Lear Corp. ........................................  | Stück | 116 |  | USD | 120,81 |  | 12 929,96 | 0,06 |
| Lockheed Martin Corp. ..............................  | Stück | 14 |  | USD | 439,25 |  | 5 650,90 | 0,02 |
| LyondellBasell Industries NV .........................  | Stück | 528 |  | USD | 82,6 |  | 40 629,89 | 0,18 |
| ManpowerGroup, Inc. ..............................  | Stück | 158 |  | USD | 92,43 |  | 13 430,00 | 0,06 |
| Merck & Co., Inc. ..................................  | Stück | 578 |  | USD | 85,47 |  | 45 213,15 | 0,20 |
| Owens Corning ...................................  | Stück | 270 |  | USD | 61,515 |  | 15 475,55 | 0,07 |
| PACCAR, Inc. .....................................  | Stück | 621 |  | USD | 75,04 |  | 42 924,07 | 0,19 |
| PepsiCo, Inc. .....................................  | Stück | 287 |  | USD | 145,94 |  | 38 216,73 | 0,17 |
| Pfizer, Inc. ........................................  | Stück | 1 186 |  | USD | 37,94 |  | 41 178,75 | 0,18 |
| Philip Morris International, Inc. ........................  | Stück | 182 |  | USD | 87,38 |  | 14 931,67 | 0,07 |
| Phillips 66 ........................................  | Stück | 331 |  | USD | 90,78 |  | 27 249,91 | 0,12 |
| Principal Financial Group, Inc. ........................  | Stück | 249 |  | USD | 55,3 |  | 12 880,96 | 0,06 |
| Procter & Gamble Co. ..............................  | Stück | 693 |  | USD | 126,55 |  | 79 530,01 | 0,35 |
| PulteGroup, Inc. ...................................  | Stück | 472 |  | USD | 46,64 |  | 20 202,64 | 0,09 |
| Regions Financial Corp. .............................  | Stück | 915 |  | USD | 16,25 |  | 13 792,03 | 0,06 |
| Seagate Technology PLC ............................  | Stück | 533 |  | USD | 54,26 |  | 27 235,72 | 0,12 |
| Snap-on, Inc. ......................................         | Stück | 76 |  | USD | 155,1 |  | 10 868,28 | 0,05 |
| Southwest Airlines Co. ..............................  | Stück | 236 |  | USD | 56,75 |  | 12 549,93 | 0,06 |
| Steel Dynamics, Inc. ...............................  | Stück | 420 |  | USD | 29,07 |  | 11 438,46 | 0,05 |
| Texas Instruments, Inc. .............................  | Stück | 280 |  | USD | 128,4 |  | 33 584,62 | 0,15 |
| Truist Financial Corp. ...............................  | Stück | 207 |  | USD | 54,07 |  | 10 370,85 | 0,05 |
| Tyson Foods, Inc. ..................................  | Stück | 406 |  | USD | 80,66 |  | 30 992,82 | 0,14 |
| United Continental Holdings, Inc. ......................  | Stück | 164 |  | USD | 78,29 |  | 12 152,82 | 0,05 |
| United Rentals, Inc. ................................  | Stück | 137 |  | USD | 149,65 |  | 19 395,79 | 0,09 |
| Valero Energy Corp. ................................  | Stück | 520 |  | USD | 84,03 |  | 39 780,96 | 0,17 |
| Verizon Communications, Inc. ........................  | Stück | 1 009 |  | USD | 59,94 |  | 55 328,69 | 0,24 |
| Western Union Co./The .............................  | Stück | 932 |  | USD | 27,83 |  | 24 076,67 | 0,11 |
| Verzinsliche Wertpapiere 2,125 % United States Treasury Note/Bond (MTN) 2014/2021 | USD | 196 200 |  | % | 100,574 |  | 180 698,54 | 0,79 |
| 2,00 | % United States Treasury Note/Bond (MTN) 2014/2021 | USD | 395 100 | % | 100,498 | 363 608,16 | 1,60 |
| 2,25 | % United States Treasury Note/Bond (MTN) 2014/2021 | USD | 193 600 | % | 100,836 | 178 750,65 | 0,79 |
| 2,25 | % United States Treasury Note/Bond (MTN) 2015/2025 | USD | 192 300 | % | 104,449 | 183 775,73 | 0,81 |
| 1,375 | % United States Treasury Note/Bond (MTN) 2016/2021 | USD | 109 100 | % | 99,861 | 99 767,94 | 0,44 |
| Investmentanteile |  |  |  |  |  | 16 793 010,54 | 73,79 |
| Gruppeneigene Investmentanteile db x-trackers - MSCI Emerging Markets Index UCITS ETF -1C- EUR - (0,490%) ...................................  | Anteile | 12 947 |  | EUR | 42,915 | 564 074,90 | 2,48 |
| Deutsche Global Liquidity Series Plc - Managed Euro Fund -Z- EUR - (0,000%) ...................................  | Anteile | 115 | 1 | EUR | 9 833,549 | 1 130 843,21 | 4,96 |
| DWS Floating Rate Notes FCP -LC- EUR - (0,200%) .......  | Anteile | 8 080 |  | EUR | 84,11 | 679 608,80 | 2,99 |
| DWS Invest SICAV - Convertibles -FC- EUR - (0,740%) .... DWS Invest SICAV - DWS Invest SICAV Global Infrastructure -FC- EUR - (0,900%) ................................  | Anteile Anteile | 7 449 3 060 |  | EUR EUR | 193,26 198,24 | 1 441 158,03 608 603,40 | 6,33 2,67 |
| DWS Invest SICAV - Emerging Markets Opportunities -IC- EUR - (0,470%) ...................................  | Anteile | 27 273 |  | EUR | 105,83 | 2 880 574,26 | 12,65 |

| Wertpapierbezeichnung | Stück bzw. Anteile bzw. Währung | Nominalbetrag bzw. Bestand | Käufe/ Zugänge im | Verkäufe/ Abgänge Berichtszeitraum | Währung | Kurs | Kurswert in EUR | %-Anteil am Fonds- vermögen |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| DWS Invest SICAV - Euro Corporate Bonds -FC- EUR - (0,700%) .........................................  | Anteile | 20 182 |  |  | EUR | 176,54 | 3 562 526,64 | 15,65 |
| DWS Invest SICAV - Invest Euro High Yield Corporates -FC- EUR - (0,750%) ...................................  | Anteile | 7 532 |  |  | EUR | 166,36 | 1 252 345,64 | 5,50 |
| db x-trackers - Barclays USD Corporate Bond UCITS ETF (DR) -1D- USD - (0,120%) ...........................  | Anteile | 179 570 |  |  | USD | 16,48 | 2 711 638,80 | 11,91 |
| DWS Invest SICAV - Emerging Markets Sovereign Debt -IC- USD - (0,400%) ...................................  | Anteile | 15 745 |  |  | USD | 136,21 | 1 961 636,86 | 8,61 |
| Summe Wertpapiervermögen |  |  |  |  |  |  | 21 347 352,71 | 93,81 |
| Bankguthaben |  |  |  |  |  |  | 1 445 088,93 | 6,35 |
| Verwahrstelle (täglich fällig) EUR-Guthaben ....................................  | EUR |  |  |  |  |  | 914 279,34 | 4,01 |
| Guthaben in sonstigen EU/EWR-Währungen |  |  |  |  |  |  |  |  |
| Norwegische Kronen ...............................  | NOK | 11 662 |  |  |  |  | 1 155,26 | 0,01 |
| Schwedische Kronen ...............................  | SEK | 118 533 |  |  |  |  | 11 266,05 | 0,05 |
| Dänische Kronen ..................................  | DKK | 152 251 |  |  |  |  | 20 376,01 | 0,09 |
| Britisches Pfund ...................................  | GBP | 39 507 |  |  |  |  | 46 907,65 | 0,21 |
| Guthaben in Nicht-EU/EWR-Währungen |  |  |  |  |  |  |  |  |
| Australischer Dollar ................................  | AUD | 42 045 |  |  |  |  | 25 914,22 | 0,11 |
| Hongkong Dollar ...................................  | HKD | 97 982 |  |  |  |  | 11 554,40 | 0,05 |
| Kanadischer Dollar .................................  | CAD | 21 995 |  |  |  |  | 15 160,33 | 0,07 |
| Schweizer Franken .................................  | CHF | 2 707 |  |  |  |  | 2 536,01 | 0,01 |
| Japanischer Yen ...................................  | JPY | 33 278 317 |  |  |  |  | 277 496,38 | 1,22 |
| US-Dollar ........................................  | USD | 129 340 |  |  |  |  | 118 443,28 | 0,52 |
| Sonstige Vermögensgegenstände |  |  |  |  |  |  | 53 194,44 | 0,23 |
| Dividenden- / Ausschüttungsansprüche .................  |  |  |  |  |  |  | 4 006,92 | 0,02 |
| Abgegrenzte Platzierungsgebühr * .....................  |  |  |  |  |  |  | 4 346,11 | 0,02 |
| Zinsansprüche ....................................  |  |  |  |  |  |  | 5 891,48 | 0,03 |
| Forderungen aus der Überschreitung des „Expense Cap“ ..  |  |  |  |  |  |  | 38 949,93 | 0,16 |
| Summe der Vermögensgegenstände |  |  |  |  |  |  | 22 845 636,08 | 100,39 |
| Sonstige Verbindlichkeiten |  |  |  |  |  |  | -88 947,43 | -0,39 |
| Verbindlichkeiten aus Kostenpositionen ................  |  |  |  |  |  |  | -88 947,43 | -0,39 |
| Summe der Verbindlichkeiten | -88 947,43 | -0,39 |
| Fondsvermögen | 22 756 688,65 | 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 LC ........................................  | EUR | 111,31 |
| Klasse LD ........................................  | EUR | 105,73 |
| Klasse NC ........................................  | EUR | 109,24 |
| Klasse PFC .......................................  | EUR | 108,91 |
| Umlaufende Anteile Klasse LC ........................................  | Stück | 99 863,896 |
| Klasse LD ........................................  | Stück | 1 523,000 |
| Klasse NC ........................................  | Stück | 32 711,000 |
| Klasse PFC .......................................  | Stück | 72 600,000 |

Zusammensetzung des Referenzportfolios (gem. CSSF-Rundschreiben 11/512) iBoxx EUR Overall (65%) und MSCI THE WORLD INDEX in EUR (35%)
Potenzieller Risikobetrag für das Marktrisiko (gem. CSSF-Rundschreiben 11/512)
| kleinster potenzieller Risikobetrag .....................  | % | 0,000 |
| --- | --- | --- |
| größter potenzieller Risikobetrag ......................  | % | 63,490 |
| durchschnittlicher potenzieller Risikobetrag ..............  | % | 57,094 |

Die Risikokennzahlen wurden für den Zeitraum vom 1.1.2020 bis 11.2.2020 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 0,37, wobei zur Berechnung die Summe der Nominalbeträge der Derivate in Relation zum Fondsvermögen gesetzt wurde (Nominalwertmethode).
Das durch Derivate erzielte zugrundeliegende Exposure gem. Punkt 40 a) der „Leitlinien zu börsengehandelten Indexfonds und anderen OGAW-Themen“ der European Securities and Markets Authority (ESMA) belief sich zum Berichtsstichtag unter Zugrundelegung einer Bruttobetrachtung auf EUR 0,00.
 Devisenkurse (in Mengennotiz)	
per 11.2.2020 (Auflösungsstichtag)
| Australischer Dollar ..............  | AUD | 1,622465 | = | EUR | 1 |
| --- | --- | --- | --- | --- | --- |
| Kanadischer Dollar ...............  | CAD | 1,450831 | = | EUR | 1 |
| Schweizer Franken ...............  | CHF | 1,067430 | = | EUR | 1 |
| Dänische Kronen ................  | DKK | 7,472064 | = | EUR | 1 |
| Britisches Pfund .................  | GBP | 0,842235 | = | EUR | 1 |
| Hongkong Dollar .................  | HKD | 8,480034 | = | EUR | 1 |
| Japanischer Yen .................  | JPY | 119,923429 | = | EUR | 1 |
| Norwegische Kronen .............  | NOK | 10,094993 | = | EUR | 1 |
| Schwedische Kronen .............  | SEK | 10,521255 | = | EUR | 1 |
| US-Dollar ......................  | USD | 1,092000 | = | EUR | 1 |

 Erläuterungen zur Bewertung	
Die Anteilwerte werden in Verantwortung des Verwaltungsrats der SICAV durch die Verwaltungsgesellschaft ermittelt sowie die Bewertung der Vermögenswerte des Fondsvermögens durchgeführt. Die grundsätzliche Kursversorgung sowie die Preisvalidierung erfolgen nach den vom Verwaltungsrat der SICAV auf der Grundlage der in den gesetzlichen Bestimmungen/ Verordnungen bzw. im Prospekt der SICAV definierten Grundsätze für Bewertungsmethoden eingeführten Verfahren.
Sofern keine handelbaren Kurse vorliegen, werden Bewertungsmodelle zur Preisermittlung (abgeleitete Verkehrswerte) genutzt, die zwischen State Street Bank International GmbH, Luxembourg Branch, als externem Price Service Provider und der Verwaltungsgesellschaft abgestimmt sind und sich so weit als möglich auf Marktparameter stützen. Diese Vorgehensweise unterliegt einem permanenten Kontrollprozess. Preisauskünfte Dritter werden durch andere Preisquellen, modellhafte Rechnungen oder durch andere geeignete Verfahren auf Plausibilität geprüft.
Die in diesem Bericht ausgewiesenen Vermögenswerte werden nicht zu abgeleiteten Verkehrswerten bewertet.
In Klammern sind die aktuellen Verwaltungsvergütungs-/Kostenpauschalsätze zum Berichtsstichtag für die im Wertpapiervermögen enthaltenen Investmentanteile aufgeführt. Das Zeichen + bedeutet, dass darüber hinaus ggf. eine erfolgsabhängige Vergütung berechnet werden kann. Da der Investmentfonds im Berichtszeitraum andere Investmentanteile („Zielfonds“) hielt, können weitere Kosten, Gebühren und Vergütungen auf Ebene des Zielfonds angefallen sein.
 Fußnoten	
* Die abgegrenzte Platzierungsgebühr wird über einen Zeitraum von drei Jahren abgeschrieben (entsprechend Artikel 12 d) des Verwaltungsreglements – Allgemeiner Teil des Fonds).