# FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II
Annual report
1 October 2021 - 30 September 2022

#### The management company of the fund is entitled to create unit classes with different rights in relation to the units. Details of the current unit classes are as follows:
|  | Unit class I | Unit class R | Unit class IT | Unit class RT |
| --- | --- | --- | --- | --- |
| Securities ID No. (WKN): | A1W17X | A1W17Y | A1XEQ3 | A1XEQ4 |
| ISIN: | LU0952573300 | LU0952573482 | LU1038809049 | LU1038809395 |
| Subscription fee: | up to 5.00% | up to 5.00% | up to 5.00% | up to 5.00% |
| Redemption fee: | none | none | none | none |
| Management fee: | 0.78% p.a. | 1.53% p.a. | 0.78% p.a. | 1.53% p.a. |
| Minimum initial investment: | 1,000,000.00 EUR | none | 1,000,000.00 EUR | none |
| Use of income: | distributing | distributing | accumulating | accumulating |
| Currency: | EUR | EUR | EUR | EUR |
|  | Unit class ET | Unit class CHF-IT | Unit class CHF-RT | Unit class USD-IT |
| Securities ID No. (WKN): | A14ULR | A1182B | A1182C | A14YS0 |
| ISIN: | LU1245469744 | LU1172942424 | LU1172943745 | LU1280372415 |
| Subscription fee: | up to 1.00% | up to 5.00% | up to 5.00% | up to 5.00% |
| Redemption fee: | none | none | none | none |
| Management fee: | 1.93% p.a. | 0.78% p.a. | 1.53% p.a. | 0.78% p.a. |
| Minimum initial investment: | none | 1,000,000.00 CHF | none | 1,000,000.00 USD |
| Use of income: | accumulating | accumulating | accumulating | accumulating |
| Currency: | EUR | CHF | CHF | USD |
|  | Unit class USD-RT | Unit class MT | Unit class H | Unit class HT |
| Securities ID No. (WKN): | A14YS1 | A2H690 | A2JA86 | A2JA87 |
| ISIN: | LU1280372688 | LU1716948093 | LU1748854863 | LU1748854947 |
| Subscription fee: | up to 5.00% | none | none | none |
| Redemption fee: | none | none | none | none |
| Management fee: | 1.53% p.a. | 0.65% p.a. | 0.98% p.a. | 0.98% p.a. |
| Minimum initial investment: | none | none | none | none |
| Use of income: | accumulating | accumulating | distributing | accumulating |
| Currency: | USD | EUR | EUR | EUR |

FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II
|  | Unit class CHF-HT | Unit class USD-ET | Unit class Q |  |
| --- | --- | --- | --- | --- |
| Securities ID No. (WKN): | A2JA89 | A2P9FT | A2QQ1E |
| ISIN: | LU1748855167 | LU2207301743 | LU2312730349 |
| Subscription fee: | none | up to 1.00% | bis zu 5,00% |
| Redemption fee: | none | none | none |
| Management fee: | 0.98% p.a. | 1.93% p.a. | 0.78% p.a. |
| Minimum initial investment: | none | none | 25,000,000.00 EUR |
| Use of income: | accumulating | accumulating | distributing |
| Currency: | CHF | USD | EUR |
| Geographical breakdown by country 1) |  |  |  |
| United States of America |  |  |  | 53.04 % |
| Germany |  |  |  | 9.79 % |
| Ireland |  |  |  | 9.60 % |
| Switzerland |  |  |  | 4.59 % |
| Canada |  |  |  | 4.14 % |
| United Kingdom |  |  |  | 3.47 % |
| Netherlands |  |  |  | 2.01 % |
| France |  |  |  | 1.35 % |
| Cayman Islands |  |  |  | 1.13 % |
| Japan |  |  |  | 0.23 % |
| Luxembourg |  |  |  | 0.10 % |
| Securities holdings |  |  |  | 89.45 % |
| Bank balances 2) |  |  |  | 11.17 % |
| Balance of other receivables and payables |  |  |  | -0.62 % |
|  |  |  |  | 100.00 % |

1) Due to rounding differences in individual amounts, totals may differ from the actual value.
2) See the notes to the annual report.
| FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II |  |
| --- | --- |
| Breakdown by economic sector 1) |
| Raw materials and supplies | 14.65 % |
| Software and services | 11.36 % |
| Media and entertainment | 9.05 % |
| Capital goods | 8.06 % |
| Diversified financial services | 7.78 % |
| Automobiles and components | 6.56 % |
| Pharmaceuticals, biotechnology and life sciences | 5.94 % |
| Household items and body care products | 5.15 % |
| Foodstuffs, beverages and tobacco | 4.98 % |
| Wholesale and retail | 4.35 % |
| Insurance | 3.70 % |
| Hardware and equipment | 3.31 % |
| Healthcare: equipment and services | 1.60 % |
| Government bonds | 1.43 % |
| Industrial services and operating materials | 0.82 % |
| Real estate | 0.28 % |
| Transport | 0.23 % |
| Telecommunications services | 0.20 % |
| Securities holdings | 89.45 % |
| Bank balances 2) | 11.17 % |
| Balance of other receivables and payables | -0.62 % |
|  | 100.00 % |
| Performance over the last 3 financial years |  |
| Unit class I |  |
| Date | Net unit class assets EUR millions | Units in circulation | Net inflow of funds EUR thousands | Unit value EUR |
| 30.09.2020 | 875.29 | 5,412,889 | -38,323.86 | 161.70 |
| 30.09.2021 | 619.59 | 3,562,630 | -310,609.92 | 173.92 |
| 30.09.2022 | 530.79 | 3,349,666 | -32,660.92 | 158.46 |

| Unit class R |  |
| --- | --- |
| Date | Net unit class assets EUR millions | Units in circulation | Net inflow of funds EUR thousands | Unit value EUR |
| 30.09.2020 | 6,219.03 | 40,851,351 | 1,759,025.67 | 152.24 |
| 30.09.2021 | 7,681.78 | 47,266,686 | 1,012,060.90 | 162.52 |
| 30.09.2022 | 7,113.78 | 48,407,744 | 188,191.33 | 146.96 |

| Unit class IT |  |
| --- | --- |
| Date | Net unit class assets EUR millions | Units in circulation | Net inflow of funds EUR thousands | Unit value EUR |
| 30.09.2020 | 968.60 | 6,019,706 | 340,533.19 | 160.90 |
| 30.09.2021 | 1,278.74 | 7,354,869 | 227,778.38 | 173.86 |
| 30.09.2022 | 1,253.35 | 7,869,031 | 94,603.07 | 159.28 |

1) Due to rounding differences in individual amounts, totals may differ from the actual value.
2) See the notes to the annual report.
FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II

#### Performance over the last 3 financial years (continued)
Unit class RT
| Date | Net unit class assets EUR millions | Units in circulation | Net inflow of funds EUR thousands |  | Unit value EUR |
| --- | --- | --- | --- | --- | --- |
| 30.09.2020 | 1,940.20 | 12,653,543 | 361,817.56 |  | 153.33 |
| 30.09.2021 | 2,540.98 | 15,423,722 | 443,507.96 |  | 164.74 |
| 30.09.2022 | 2,049.02 | 13,674,702 | -293,121.44 |  | 149.84 |
| Unit class ET |  |  |  |  |  |
| Date | Net unit class assets EUR millions | Units in circulation | Net inflow of funds EUR thousands |  | Unit value EUR |
| 30.09.2020 | 298.74 | 2,313,785 | 146,795.64 |  | 129.11 |
| 30.09.2021 | 460.36 | 3,334,749 | 137,931.43 |  | 138.05 |
| 30.09.2022 | 441.74 | 3,533,678 | 30,399.40 |  | 125.01 |
| Unit class CHF-IT |  |  |  |  |  |
| Date | Net unit class assets EUR millions | Units in circulation | Net inflow of funds EUR thousands | Unit value EUR | Unit value CHF |
| 30.09.2020 | 77.22 | 640,295 | 26,733.55 | 120.60 1) | 130.37 |
| 30.09.2021 | 86.02 | 663,153 | 2,508.21 | 129.71 2) | 140.58 |
| 30.09.2022 | 93.64 | 698,307 | 4,809.49 | 134.09 3) | 128.43 |
| Unit class CHF-RT |  |  |  |  |  |
| Date | Net unit class assets EUR millions | Units in circulation | Net inflow of funds EUR thousands | Unit value EUR | Unit value CHF |
| 30.09.2020 | 63.62 | 551,271 | 22,737.57 | 115.41 1) | 124.76 |
| 30.09.2021 | 88.50 | 718,350 | 20,217.03 | 123.20 2) | 133.52 |
| 30.09.2022 | 99.36 | 786,247 | 8,629.78 | 126.38 3) | 121.05 |
| Unit class USD-IT |  |  |  |  |  |
| Date | Net unit class assets EUR millions | Units in circulation | Net inflow of funds EUR thousands | Unit value EUR | Unit value USD |
| 30.09.2020 | 30.37 | 253,705 | 16,855.57 | 119.71 4) | 140.42 |
| 30.09.2021 | 30.88 | 235,025 | -1,672.19 | 131.38 5) | 152.58 |
| 30.09.2022 | 28.12 | 192,930 | -5,851.08 | 145.78 6) | 142.35 |

1) Exchange rates converted to euros as at 30 September 2020 1 EUR = 1.0810 CHF
2) Exchange rates converted to euros as at 30 September 2021 1 EUR = 1.0838 CHF
3) Exchange rates converted to euros as at 30 September 2022 1 EUR = 0.9578 CHF
4) Exchange rates converted to euros as at 30 September 2020 1 EUR = 1.1730 USD
5) Exchange rates converted to euros as at 30 September 2021 1 EUR = 1.1614 USD
6) Exchange rates converted to euros as at 30 September 2022 1 EUR = 0.9765 USD
FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II

#### Performance over the last 3 financial years (continued)
Unit class USD-RT
| Date | Net unit class assets EUR millions | Units in circulation | Net inflow of funds EUR thousands | Unit value EUR | Unit value USD |
| --- | --- | --- | --- | --- | --- |
| 30.09.2020 | 25.89 | 221,516 | 13,411.80 | 116.90 1) | 137.12 |
| 30.09.2021 | 44.82 | 351,602 | 15,958.26 | 127.49 2) | 148.07 |
| 30.09.2022 | 54.11 | 386,524 | 4,679.94 | 140.00 3) | 136.71 |
| Unit class MT |  |  |  |  |  |
| Date | Net unit class assets EUR millions | Units in circulation | Net inflow of funds EUR thousands |  | Unit value EUR |
| 30.09.2020 | 227.45 | 1,875,476 | 76,158.30 |  | 121.28 |
| 30.09.2021 | 302.11 | 2,276,853 | 51,955.65 |  | 132.69 |
| 30.09.2022 | 276.44 | 2,269,689 | -1,885.32 |  | 121.80 |
| Unit class H |  |  |  |  |  |
| Date | Net unit class assets EUR millions | Units in circulation | Net inflow of funds EUR thousands |  | Unit value EUR |
| 30.09.2020 | 55.78 | 474,953 | 21,777.85 |  | 117.45 |
| 30.09.2021 | 75.23 | 596,963 | 14,949.13 |  | 126.02 |
| 30.09.2022 | 61.14 | 533,371 | -7,733.50 |  | 114.62 |
| Unit class HT |  |  |  |  |  |
| Date | Net unit class assets EUR millions | Units in circulation | Net inflow of funds EUR thousands |  | Unit value EUR |
| 30.09.2020 | 40.46 | 340,004 | 25,860.26 |  | 119.00 |
| 30.09.2021 | 68.20 | 531,696 | 24,197.91 |  | 128.26 |
| 30.09.2022 | 75.76 | 646,136 | 14,922.68 |  | 117.26 |
| Unit class CHF-HT |  |  |  |  |  |
| Date | Net unit class assets EUR millions | Units in circulation | Net inflow of funds EUR thousands | Unit value EUR | Unit value CHF |
| 30.09.2020 | 3.70 | 34,002 | 2,292.99 | 108.96 4) | 117.79 |
| 30.09.2021 | 5.43 | 46,551 | 1,484.32 5) | 116.71 6) | 126.49 |
| 30.09.2022 | 5.97 | 49,784 | 365.17 | 119.89 7) | 114.83 |

1) Exchange rates converted to euros as at 30 September 2020 1 EUR = 1.1730 USD
2) Exchange rates converted to euros as at 30 September 2021 1 EUR = 1.1614 USD
3) Exchange rates converted to euros as at 30 September 2022 1 EUR = 0.9765 USD
4) Exchange rates converted to euros as at 30 September 2020 1 EUR = 1.0810 CHF
5) This item contains cash inflows from the merger of unit class CHF-H into unit class CHF-HT.
6) Exchange rates converted to euros as at 30 September 2021 1 EUR = 1.0838 CHF
7) Exchange rates converted to euros as at 30 September 2022 1 EUR = 0.9578 CHF
FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II

#### Performance over the last 3 financial years (continued)
Unit class USD-ET
| Date | Net unit class assets EUR millions | Units in circulation | Net inflow of funds EUR thousands | Unit value EUR | Unit value USD |
| --- | --- | --- | --- | --- | --- |
| 30.09.2020 | 0.27 | 3,212 | 188.20 | 85.07 1) | 99.79 |
| 30.09.2021 | 3.99 | 43,451 | 3,589.15 | 91.91 2) | 106.74 |
| 30.09.2022 | 3.77 | 37,440 | -612.65 | 100.70 3) | 98.33 |

| Performance since | launch |  |
| --- | --- | --- |
| Unit class Q |  |
| Date | Net unit class assets EUR millions | Units in circulation | Net inflow of funds EUR thousands |  | Unit value EUR |
| 15.03.2021 | Launch | - | - |  | 100.00 |
| 30.09.2021 | 222.28 | 2,106,830 | 214,088.81 |  | 105.51 |
| 30.09.2022 | 194.27 | 2,016,871 | -9,471.92 |  | 96.32 |


#### Composition of net sub-fund assets
as at 30 September 2022
EUR
Securities holdings	10,990,201,630.39
(acquisition cost of securities: EUR 10,469,707,922.60)
| Bank balances 4) | 1,371,454,759.46 |
| --- | --- |
| Interest receivables | 5,038,316.49 |
| Dividend receivables | 3,537,885.68 |
| Receivable on subscriptions | 7,065,383.36 |
|  | 12,377,297,975.38 |
| Payable on redemptions | -15,351,071.09 |
| Unrealised losses from forward exchange transactions | -24,698,309.93 |
| Payables from securities transactions | -35,211,977.21 |
| Other liabilities 5) | -20,768,206.95 |
|  | -96,029,565.18 |
| Net sub-fund assets | 12,281,268,410.20 |
| Allocation to the unit classes |  |
| Unit class I |  |
| Proportion of net sub-fund assets | 530,788,806.01 EUR |
| Units outstanding | 3,349,666.132 |
| Unit value | 158.46 EUR |
| Unit class R |  |
| Proportion of net sub-fund assets | 7,113,782,581.18 EUR |
| Units outstanding | 48,407,744.366 |
| Unit value | 146.96 EUR |
| 1) Exchange rates converted to euros as at 30 September 2020 1 EUR = 1.1730 USD 2) Exchange rates converted to euros as at 30 September 2021 1 EUR = 1.1614 USD 3) Exchange rates converted to euros as at 30 September 2022 1 EUR = 0.9765 USD 4) See the notes to the annual report. 5) This item mainly comprises management and performance fees. |  |

FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II

#### Allocation to the unit classes 
(continued)
Unit class IT
Proportion of net sub-fund assets	1,253,346,788.99 EUR
Units outstanding	7,869,031.191
Unit value	159.28 EUR
Unit class RT
Proportion of net sub-fund assets	2,049,020,863.70 EUR
Units outstanding	13,674,702.022
Unit value	149.84 EUR
Unit class ET
Proportion of net sub-fund assets	441,735,867.61 EUR
Units outstanding	3,533,678.476
Unit value	125.01 EUR
Unit class CHF-IT
Proportion of net sub-fund assets	93,639,376.24 EUR
Units outstanding	698,306.903
Unit value	134.09 EUR 1)
Unit value	128.43 CHF
Unit class CHF-RT
Proportion of net sub-fund assets	99,364,024.42 EUR
Units outstanding	786,246.983
Unit value	126.38 EUR 1)
Unit value	121.05 CHF
Unit class USD-IT
Proportion of net sub-fund assets	28,124,480.14 EUR
Units outstanding	192,930.174
Unit value	145.78 EUR 2)
Unit value	142.35 USD
Unit class USD-RT
Proportion of net sub-fund assets	54,114,035.39 EUR
Units outstanding	386,523.899
Unit value	140.00 EUR 2)
Unit value	136.71 USD
Unit class MT
Proportion of net sub-fund assets	276,442,527.15 EUR
Units outstanding	2,269,689.250
Unit value	121.80 EUR
Unit class H
Proportion of net sub-fund assets	61,135,548.56 EUR
Units outstanding	533,371.220
Unit value	114.62 EUR
Unit class HT
Proportion of net sub-fund assets	75,763,681.94 EUR
Units outstanding	646,136.346
Unit value	117.26 EUR
1) Exchange rates converted to euros as at 30 September 2022 1 EUR = 0.9578 CHF
2) Exchange rates converted to euros as at 30 September 2022 1 EUR = 0.9765 USD
| FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II |  |
| --- | --- |
| Allocation to the unit classes  (continued) |
| Unit class CHF-HT |  |  |  |
| Proportion of net sub-fund assets |  |  | 5,968,664.25 EUR |
| Units outstanding |  |  | 49,783.926 |
| Unit value |  |  | 119.89 EUR 1) |
| Unit value |  |  | 114.83 CHF |
| Unit class USD-ET |  |  |  |
| Proportion of net sub-fund assets |  |  | 3,770,231.53 EUR |
| Units outstanding |  |  | 37,440.104 |
| Unit value |  |  | 100.70 EUR 2) |
| Unit value |  |  | 98.33 USD |
| Unit class Q |  |  |  |
| Proportion of net sub-fund assets |  |  | 194,270,933.09 EUR |
| Units outstanding |  |  | 2,016,871.000 |
| Unit value |  |  | 96.32 EUR |
| Change in net sub-fund assets |  |  |  |
| in the reporting period from 1 October 2021 to 30 September 2022 |  |  |  |
| Total | Unit class I | Unit class R | Unit class IT |
| EUR | EUR | EUR | EUR |
| Net sub-fund assets at the beginning of the reporting period	13,508,916,053.67 | 619,594,817.38 | 7,681,780,381.81 | 1,278,742,347.48 |
| Ordinary net expenditure	-50,365,669.86 | 1,226,096.44 | -39,621,810.57 | 2,761,821.83 |
| Income and expense equalisation	1,088,948.73 | 131,201.77 | 813,116.07 | 587,423.34 |
| Cash inflows from the sale of units	2,424,770,592.77 | 138,067,819.17 | 1,091,329,580.67 | 418,353,178.16 |
| Cash outflows from the redemption of units	-2,429,506,554.29 | -170,728,741.28 | -903,138,251.88 | -323,750,103.59 |
| Realised profits	968,819,477.54 | 41,880,342.04 | 530,205,565.15 | 93,522,102.89 |
| Realised losses	-682,960,791.56 | -30,214,464.15 | -385,759,931.84 | -68,413,705.87 |
| Net change in unrealised profits	-732,471,851.07 | -34,283,140.99 | -425,931,143.20 | -80,230,659.43 |
| Net change in unrealised losses	-673,528,151.75 | -31,077,471.01 | -387,690,742.36 | -68,225,615.82 |
| Distribution	-53,493,643.98 | -3,807,653.36 | -48,204,182.67 | 0.00 |
| Net sub-fund assets at the end of the reporting period	12,281,268,410.20 | 530,788,806.01 | 7,113,782,581.18 | 1,253,346,788.99 |
|  |  |  |  |
| Unit class RT | Unit class ET | Unit class CHF-IT | Unit class CHF-RT |
| EUR | EUR | EUR | EUR |
| Net sub-fund assets at the beginning of the reporting period	2,540,978,560.36 | 460,355,956.85 | 86,019,736.37 | 88,498,684.37 |
| Ordinary net expenditure	-11,548,650.86 | -4,611,334.52 | 217,010.17 | -540,594.93 |
| Income and expense equalisation	-793,534.83 | 216,623.75 | 10,716.27 | 39,461.92 |
| Cash inflows from the sale of units	433,784,556.67 | 164,172,994.13 | 16,776,044.55 | 27,245,945.74 |
| Cash outflows from the redemption of units	-726,905,997.95 | -133,773,589.86 | -11,966,552.04 | -18,616,167.64 |
| Realised profits	152,026,988.16 | 33,337,081.11 | 22,711,039.56 | 23,968,446.27 |
| Realised losses	-110,307,572.82 | -24,315,245.01 | -11,222,010.75 | -11,811,847.21 |
| Net change in unrealised profits	-114,060,209.78 | -28,828,326.77 | -4,146,584.83 | -4,378,210.04 |
| Net change in unrealised losses	-114,153,275.25 | -24,818,292.07 | -4,760,023.06 | -5,041,694.06 |
| Distribution0.00 | 0.00 | 0.00 | 0.00 |
| Net sub-fund assets at the end of the reporting period	2,049,020,863.70 | 441,735,867.61 | 93,639,376.24 | 99,364,024.42 |

1) Exchange rates converted to euros as at 30 September 2022 1 EUR = 0.9578 CHF
2) Exchange rates converted to euros as at 30 September 2022 1 EUR = 0.9765 USD
FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II

#### Change in net sub-fund assets 
(continued)
in the reporting period from 1 October 2021 to 30 September 2022
|  | Unit class USD-IT EUR | Unit class USD-RT EUR | Unit class MT EUR | Unit class H EUR |
| --- | --- | --- | --- | --- |
| Net sub-fund assets at the beginning of the reporting period | 30,877,153.94 | 44,824,265.98 | 302,108,579.47 | 75,226,692.32 |
| Ordinary net expenditure | 68,799.81 | -273,793.39 | 1,339,389.62 | 14,382.64 |
| Income and expense equalisation | 20,923.65 | 28,873.52 | -34,546.08 | -4,731.31 |
| Cash inflows from the sale of units | 6,576,765.46 | 12,373,311.44 | 55,644,454.49 | 16,296,786.47 |
| Cash outflows from the redemption of units | -12,427,840.64 | -7,693,371.65 | -57,529,771.35 | -24,030,290.39 |
| Realised profits | 9,176,584.21 | 14,011,354.56 | 19,685,040.25 | 4,956,903.61 |
| Realised losses | -2,879,234.25 | -3,942,183.73 | -14,416,586.85 | -3,551,918.19 |
| Net change in unrealised profits | -1,670,319.01 | -2,569,261.45 | -15,792,534.37 | -3,685,090.95 |
| Net change in unrealised losses | -1,618,353.03 | -2,645,159.89 | -14,561,498.03 | -3,658,792.69 |
| Distribution | 0.00 | 0.00 | 0.00 | -428,392.95 |
| Net sub-fund assets at the end of the reporting period | 28,124,480.14 | 54,114,035.39 | 276,442,527.15 | 61,135,548.56 |
|  |  |  |  |  |
|  | Unit class HT EUR | Unit class CHF-HT EUR | Unit class USD-ET EUR | Unit class Q EUR |
| Net sub-fund assets at the beginning of the reporting period | 68,197,556.03 | 5,432,951.32 | 3,993,456.44 | 222,284,913.55 |
| Ordinary net expenditure | -4,834.82 | -7,983.95 | -37,011.44 | 652,844.11 |
| Income and expense equalisation | 66,155.59 | 4,777.89 | -5,172.76 | 7,659.94 |
| Cash inflows from the sale of units | 37,264,765.30 | 4,664,846.86 | 2,219,543.66 | 0.00 |
| Cash outflows from the redemption of units | -22,342,083.12 | -4,299,677.50 | -2,832,197.54 | -9,471,917.86 |
| Realised profits | 5,523,529.25 | 1,545,779.67 | 1,179,885.77 | 15,088,835.04 |
| Realised losses | -4,066,644.17 | -780,026.36 | -338,164.68 | -10,941,255.68 |
| Net change in unrealised profits | -4,946,087.51 | -278,330.83 | -199,474.52 | -11,472,477.39 |
| Net change in unrealised losses | -3,928,674.61 | -313,672.85 | -210,633.40 | -10,824,253.62 |
| Distribution | 0.00 | 0.00 | 0.00 | -1,053,415.00 |
| Net sub-fund assets at the end of the reporting period | 75,763,681.94 | 5,968,664.25 | 3,770,231.53 | 194,270,933.09 |
| Changes in number of units in circulation |  |  |  |  |
|  | Unit class I No. of units | Unit class R No. of units | Unit class IT No. of units | Unit class RT No. of units |
| Units outstanding at the beginning of the reporting period | 3,562,629.575 | 47,266,686.192 | 7,354,868.793 | 15,423,722.353 |
| Units issued | 787,301.979 | 6,728,765.134 | 2,384,721.036 | 2,632,429.259 |
| Units redeemed | -1,000,265.422 | -5,587,706.960 | -1,870,558.638 | -4,381,449.590 |
| Units outstanding at the end of reporting period | 3,349,666.132 | 48,407,744.366 | 7,869,031.191 | 13,674,702.022 |
|  |  |  |  |  |
|  | Unit class ET No. of units | Unit class CHF-IT No. of units | Unit class CHF-RT No. of units | Unit class USD-IT No. of units |
| Units outstanding at the beginning of the reporting period | 3,334,749.359 | 663,152.564 | 718,350.077 | 235,024.720 |
| Units issued | 1,182,288.552 | 121,565.004 | 209,974.634 | 47,444.069 |
| Units redeemed | -983,359.435 | -86,410.665 | -142,077.728 | -89,538.615 |
| Units outstanding at the end of reporting period | 3,533,678.476 | 698,306.903 | 786,246.983 | 192,930.174 |

FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II

#### Changes in number of units in circulation 
(continued)
|  | Unit class USD-RT No. of units | Unit class MT No. of units | Unit class H No. of units | Unit class HT No. of units |
| --- | --- | --- | --- | --- |
| Units outstanding at the beginning of the reporting period | 351,601.609 | 2,276,853.453 | 596,962.630 | 531,695.624 |
| Units issued | 90,727.695 | 418,272.176 | 128,555.334 | 289,355.373 |
| Units redeemed | -55,805.405 | -425,436.379 | -192,146.744 | -174,914.651 |
| Units outstanding at the end of reporting period | 386,523.899 | 2,269,689.250 | 533,371.220 | 646,136.346 |

|  | Unit class CHF-HT No. of units | Unit class USD-ET No. of units | Unit class Q No. of units |
| --- | --- | --- | --- |
| Units outstanding at the beginning of the reporting period | 46,551.254 | 43,450.576 | 2,106,830.000 |
| Units issued | 37,010.435 | 22,731.531 | 0.000 |
| Units redeemed | -33,777.763 | -28,742.003 | -89,959.000 |
| Units outstanding at the end of reporting period | 49,783.926 | 37,440.104 | 2,016,871.000 |

| FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II |  |
| --- | --- |
| Performance as a per cent 1) |
| As at: 30.09.2022 |
|  | ISIN | Unit class |  |  |  |  | since |
| Funds | WKN | currency | 6 months | 1 year | 3 years | 10 years | launch |
| Flossbach von Storch - Multiple Opportunities II I since 01.10.2013 | LU0952573300 A1W17X | EUR | -11.42% | -8.38% | 6.03% | — | 66.22% |
| Flossbach von Storch - Multiple Opportunities II R since 01.10.2013 | LU0952573482 A1W17Y | EUR | -11.75% | -9.04% | 3.82% | — | 55.73% |
| Flossbach von Storch - Multiple Opportunities II IT since 03.04.2014 | LU1038809049 A1XEQ3 | EUR | -11.42% | -8.39% | 5.85% | — | 59.28% |
| Flossbach von Storch - Multiple Opportunities II RT since 03.04.2014 | LU1038809395 A1XEQ4 | EUR | -11.76% | -9.05% | 3.80% | — | 49.84% |
| Flossbach von Storch - Multiple Opportunities II ET since 10.07.2015 | LU1245469744 A14ULR | EUR | -11.99% | -9.45% | 2.44% | — | 25.01% |
| Flossbach von Storch - Multiple Opportunities II CHF-IT since 27.02.2015 | LU1172942424 A1182B | CHF | -11.45% | -8.64% | 4.92% | — | 28.43% |
| Flossbach von Storch - Multiple Opportunities II CHF-RT since 27.02.2015 | LU1172943745 A1182C | CHF | -11.93% | -9.34% | 2.67% | — | 21.05% |
| Flossbach von Storch - Multiple Opportunities II USD-IT since 01.07.2016 | LU1280372415 A14YS0 | USD | -10.18% | -6.71% | 10.00% | — | 42.35% |
| Flossbach von Storch - Multiple Opportunities II USD-RT since 01.07.2016 | LU1280372688 A14YS1 | USD | -10.84% | -7.67% | 7.39% | — | 36.71% |
| Flossbach von Storch - Multiple Opportunities II MT since 18.12.2017 | LU1716948093 A2H690 | EUR | -11.63% | -8.21% | 8.36% | — | 21.80% |
| Flossbach von Storch - Multiple Opportunities II H since 05.02.2018 | LU1748854863 A2JA86 | EUR | -11.51% | -8.55% | 5.35% | — | 17.47% |
| Flossbach von Storch - Multiple Opportunities II HT since 05.02.2018 | LU1748854947 A2JA87 | EUR | -11.53% | -8.58% | 5.14% | — | 17.26% |
| Flossbach von Storch - Multiple Opportunities II CHF-HT since 05.02.2018 | LU1748855167 A2JA89 | CHF | -12.05% | -9.22% | 3.62% | — | 17.07% |
| Flossbach von Storch - Multiple Opportunities II Q since 15.03.2021 | LU2312730349 A2QQ1E | EUR | -11.34% | -8.29% | — | — | -3.24% |
| Flossbach von Storch - Multiple Opportunities II USD ET since 24.08.2020 | LU2207301743 A2P9FT | USD | -10.85% | -7.88% | — | — | -1.67% |

1) Based on published unit values (BVI method), ultimately corresponds to the guidelines on the "Calculation and publication of performance data of collective investment schemes" issued by the Asset Management Association Switzerland on 16 May 2008 (version dated 5 August 2021).
Past performance is not an indicator of current or future performance. The performance data do not include the commissions and charges that are levied when shares are issued and redeemed.
| FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II |  |
| --- | --- |
| Statement of income and expenses |
| in the reporting period from 1 October 2021 to 30 September 2022 |
| Total | Unit class I | Unit class R | Unit class IT |
| EUR | EUR | EUR | EUR |
| Income |  |  |  |
| Dividends	156,326,362.33 | 7,044,866.14 | 90,337,890.22 | 16,058,994.73 |
| Interest on bonds	1,863,137.99 | 79,038.51 | 1,079,537.77 | 192,438.13 |
| Bank interest	-5,182,107.43 | -238,830.18 | -2,992,540.41 | -522,804.08 |
| Trailer fees	240,359.29 | 11,124.22 | 139,768.90 | 24,578.20 |
| Income equalisation	94,197.09 | -274,256.62 | 478,278.12 | -125,221.48 |
| Total income	153,341,949.27 | 6,621,942.07 | 89,042,934.60 | 15,627,985.50 |
| Expenses |  |  |  |
| Interest expense	-116,903.85 | -5,347.36 | -67,773.64 | -11,873.61 |
| Performance fee	-3,826,256.77 | -230,462.69 | -1,517,829.04 | -518,601.13 |
| Management fee / fund management fee	-186,327,740.43 | -4,739,692.06 | -118,560,282.74 | -10,603,333.88 |
| Depositary fee	-2,271,032.84 | -102,887.44 | -1,312,599.43 | -230,299.40 |
| Central administration agent fee	-969,530.41 | -43,916.16 | -560,353.27 | -98,321.47 |
| Taxe d’abonnement	-6,400,945.24 | -296,698.00 | -3,836,622.02 | -674,658.66 |
| Publication and auditing costs	-55,838.24 | -2,582.24 | -32,322.88 | -5,677.45 |
| Typesetting, printing and dispatch costs for the annual and semi- |  |  |  |
| annual reports	-23,726.68 | -1,084.19 | -13,739.13 | -2,424.55 |
| Registrar and transfer agent fee	-165,581.45 | -7,537.34 | -95,875.02 | -16,922.77 |
| State fees	-28,134.51 | -1,353.94 | -16,336.90 | -2,848.55 |
| Other expenses 1)	-2,338,782.89 | -107,339.06 | -1,359,616.91 | -239,000.34 |
| Expense equalisation	-1,183,145.82 | 143,054.85 | -1,291,394.19 | -462,201.86 |
| Total expenses	-203,707,619.13 | -5,395,845.63 | -128,664,745.17 | -12,866,163.67 |
| Ordinary net expenditure	-50,365,669.86 | 1,226,096.44 | -39,621,810.57 | 2,761,821.83 |
| Total transaction costs during the financial year 2)	3,123,788.24 |  |  |  |
| Total expense ratio in per cent 2) | 0.87 | 1.62 | 0.87 |
| Performance fee in per cent 2) | 0.04 | 0.02 | 0.04 |
| Ongoing charges in per cent 2) | 0.87 | 1.63 | 0.88 |

1) This item mainly comprises sub-depositary fees and provisions for Belgian subscription tax („Taxe annuelle sur les organismes de placement collectif“).
2) See the notes to the annual report.
FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II

#### Statement of income and expenses 
(continued)
in the reporting period from 1 October 2021 to 30 September 2022
|  | Unit class RT | Unit class ET | Unit class CHF-IT | Unit class CHF-RT |
| --- | --- | --- | --- | --- |
| EUR | EUR | EUR | EUR |
| Income |  |  |  |  |
| Dividends | 26,019,804.98 | 5,708,328.11 | 1,101,266.04 | 1,168,751.34 |
| Interest on bonds | 309,742.77 | 67,666.97 | 13,942.79 | 14,871.41 |
| Bank interest | -874,579.82 | -187,906.49 | -35,588.68 | -37,471.06 |
| Trailer fees | 39,090.09 | 8,786.70 | 1,709.90 | 1,794.45 |
| Income equalisation | 138,459.51 | -60,566.71 | 12,750.90 | 17,304.36 |
| Total income | 25,632,517.53 | 5,536,308.58 | 1,094,080.95 | 1,165,250.50 |
| Expenses |  |  |  |  |
| Interest expense | -19,393.97 | -4,245.90 | -824.48 | -873.72 |
| Performance fee | -1,255,888.66 | -152,751.12 | -25,025.50 | -25,831.75 |
| Management fee / fund management fee | -34,497,620.57 | -9,380,814.28 | -736,651.18 | -1,525,977.52 |
| Depositary fee | -381,832.22 | -82,335.81 | -16,001.03 | -16,901.25 |
| Central administration agent fee | -163,019.12 | -35,149.78 | -6,831.72 | -7,215.44 |
| Taxe d’abonnement | -1,080,693.68 | -240,666.64 | -47,779.80 | -50,642.56 |
| Publication and auditing costs | -9,274.46 | -2,041.45 | -393.06 | -413.20 |
| Typesetting, printing and dispatch costs for the annual and semi- annual reports | -3,924.82 | -869.60 | -167.79 | -177.52 |
| Registrar and transfer agent fee | -27,379.24 | -6,084.53 | -1,167.84 | -1,240.40 |
| State fees | -4,571.67 | -1,048.92 | -197.57 | -207.70 |
| Other expenses 1) | -392,645.30 | -85,578.03 | -18,563.64 | -19,598.09 |
| Expense equalisation | 655,075.32 | -156,057.04 | -23,467.17 | -56,766.28 |
| Total expenses | -37,181,168.39 | -10,147,643.10 | -877,070.78 | -1,705,845.43 |
| Ordinary net expenditure | -11,548,650.86 | -4,611,334.52 | 217,010.17 | -540,594.93 |
| Total expense ratio in per cent 2) | 1.62 | 2.03 | 0.88 | 1.63 |
| Performance fee in per cent 2) | 0.06 | 0.03 | 0.03 | 0.03 |
| Ongoing charges in per cent 2) | 1.62 | 2.03 | 0.88 | 1.63 |

1) This item mainly comprises sub-depositary fees and provisions for Belgian subscription tax („Taxe annuelle sur les organismes de placement collectif“).
2) See the notes to the annual report.
FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II

#### Statement of income and expenses 
(continued)
in the reporting period from 1 October 2021 to 30 September 2022
| Unit | class USD-IT | Unit class USD-RT | Unit class MT | Unit class H |
| --- | --- | --- | --- | --- |
|  | EUR | EUR | EUR | EUR |
| Income |  |  |  |  |
| Dividends | 401,005.76 | 627,213.76 | 3,390,127.15 | 832,464.45 |
| Interest on bonds | 4,144.78 | 8,022.03 | 41,462.09 | 9,360.05 |
| Bank interest | -13,376.85 | -19,574.63 | -110,921.81 | -28,793.39 |
| Trailer fees | 606.75 | 948.57 | 5,105.68 | 1,300.07 |
| Income equalisation | -75,632.46 | -3,630.44 | 121,509.84 | -50,969.58 |
| Total income | 316,747.98 | 612,979.29 | 3,447,282.95 | 763,361.60 |
| Expenses |  |  |  |  |
| Interest expense | -288.80 | -457.16 | -2,504.08 | -633.90 |
| Performance fee | -10,107.48 | -9,208.49 | 0.00 | -25,060.96 |
| Management fee / fund management fee | -260,803.11 | -801,195.49 | -1,881,988.77 | -712,062.93 |
| Depositary fee | -5,660.75 | -8,875.79 | -49,048.41 | -12,302.61 |
| Central administration agent fee | -2,416.67 | -3,789.74 | -20,941.93 | -5,251.48 |
| Taxe d’abonnement | -16,129.54 | -26,634.60 | -28,493.67 | -35,049.75 |
| Publication and auditing costs | -141.80 | -215.47 | -1,186.65 | -308.30 |
| Typesetting, printing and dispatch costs for the annual and semi- annual reports | -59.15 | -93.61 | -506.84 | -129.43 |
| Registrar and transfer agent fee | -421.34 | -658.51 | -3,554.85 | -902.80 |
| State fees | -73.22 | -105.90 | -579.38 | -163.55 |
| Other expenses 1) | -6,555.12 | -10,294.84 | -32,124.99 | -12,814.14 |
| Expense equalisation | 54,708.81 | -25,243.08 | -86,963.76 | 55,700.89 |
| Total expenses | -247,948.17 | -886,772.68 | -2,107,893.33 | -748,978.96 |
| Ordinary net expenditure | 68,799.81 | -273,793.39 | 1,339,389.62 | 14,382.64 |
| Total expense ratio in per cent 2) | 0.88 | 1.63 | 0.70 | 1.07 |
| Performance fee in per cent 2) | 0.03 | 0.02 | - | 0.03 |
| Ongoing charges in per cent 2) | 0.88 | 1.63 | 0.70 | 1.07 |

1) This item mainly comprises sub-depositary fees and provisions for Belgian subscription tax („Taxe annuelle sur les organismes de placement collectif“).
2) See the notes to the annual report.
FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II

#### Statement of income and expenses 
(continued)
in the reporting period from 1 October 2021 to 30 September 2022
|  | Unit class HT | Unit class CHF-HT | Unit class USD-ET | Unit class Q |
| --- | --- | --- | --- | --- |
|  | EUR | EUR | EUR | EUR |
| Income |  |  |  |  |
| Dividends | 962,209.49 | 72,814.28 | 50,367.72 | 2,550,258.16 |
| Interest on bonds | 11,677.71 | 888.34 | 570.36 | 29,774.28 |
| Bank interest | -30,278.66 | -2,341.82 | -1,682.29 | -85,417.26 |
| Trailer fees | 1,431.27 | 110.81 | 77.27 | 3,926.41 |
| Income equalisation | 538.23 | -1,582.45 | -6,619.93 | -76,164.20 |
| Total income | 945,578.04 | 69,889.16 | 42,713.13 | 2,422,377.39 |
| Expenses |  |  |  |  |
| Interest expense | -690.16 | -52.89 | -36.94 | -1,907.24 |
| Performance fee | -29,895.69 | -8,749.91 | -5,197.41 | -11,646.94 |
| Management fee / fund management fee | -778,230.67 | -60,015.26 | -82,222.36 | -1,706,849.61 |
| Depositary fee | -13,459.04 | -1,037.31 | -721.70 | -37,070.65 |
| Central administration agent fee | -5,746.85 | -443.04 | -308.15 | -15,825.59 |
| Taxe d’abonnement | -40,136.23 | -3,058.53 | -2,101.14 | -21,580.42 |
| Publication and auditing costs | -327.13 | -24.61 | -17.99 | -911.55 |
| Typesetting, printing and dispatch costs for the annual and semi- annual reports | -142.93 | -11.08 | -7.67 | -388.37 |
| Registrar and transfer agent fee | -1,002.65 | -74.78 | -53.69 | -2,705.69 |
| State fees | -162.03 | -12.23 | -9.13 | -463.82 |
| Other expenses 1) | -13,925.66 | -1,198.03 | -841.08 | -38,687.66 |
| Expense equalisation | -66,693.82 | -3,195.44 | 11,792.69 | 68,504.26 |
| Total expenses | -950,412.86 | -77,873.11 | -79,724.57 | -1,769,533.28 |
| Ordinary net expenditure | -4,834.82 | -7,983.95 | -37,011.44 | 652,844.11 |
| Total expense ratio in per cent 2) | 1.08 | 1.08 | 2.03 | 0.83 |
| Performance fee in per cent 2) | 0.04 | 0.14 | 0.12 | 0.01 |
| Ongoing charges in per cent 2) | 1.08 | 1.08 | 2.03 | 0.84 |

1) This item mainly comprises sub-depositary fees and provisions for Belgian subscription tax („Taxe annuelle sur les organismes de placement collectif“).
2) See the notes to the annual report.
FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II

#### Statement of assets as at 30 September 2022
Additions
in the
Disposals
in the
Market value
% share
of
ISIN	Securities
| Cayman Islands |  |
| --- | --- |
| KYG017191142 | Alibaba Group Holding Ltd. | HKD | 0 | 850,000 | 12,486,000 | 77.9500 | 126,974,338.57 | 1.03 |
| US01609W1027 | Alibaba Group Holding Ltd. ADR | USD | 150,000 | 539,400 | 158,850 | 79.0600 | 12,860,912.44 | 0.10 |
|  |  |  |  |  |  |  | 139,835,251.01 | 1.13 |
| Germany |  |  |  |  |  |  |  |  |
| DE0005190003 | Bayer. Motoren Werke AG | EUR | 2,099,000 | 80,000 | 3,391,000 | 69.1300 | 234,419,830.00 | 1.91 |
| DE0005190037 | Bayer. Motoren Werke AG -VZ- | EUR | 0 | 0 | 337,554 | 65.4000 | 22,076,031.60 | 0.18 |
| DE0005158703 | Bechtle AG | EUR | 850,000 | 0 | 2,200,000 | 35.4500 | 77,990,000.00 | 0.64 |
| US09075V1026 | BioNTech SE ADR | USD | 1,025,000 | 0 | 1,025,000 | 133.6000 | 140,235,535.07 | 1.14 |
| DE000A1DAHH0 | Brenntag SE | EUR | 235,000 | 30,000 | 1,030,000 | 61.0400 | 62,871,200.00 | 0.51 |
| DE0005810055 | Dte. Börse AG | EUR | 0 | 153,500 | 1,809,400 | 167.9000 | 303,798,260.00 | 2.47 |
| DE0007100000 | Mercedes-Benz Group AG | EUR | 5,642,183 | 0 | 5,642,183 | 52.4300 | 295,819,654.69 | 2.41 |
| DE0008303504 | TAG Immobilien AG | EUR | 826,736 | 263,482 | 2,763,254 | 7.7850 | 21,511,932.39 | 0.18 |
| DE0005089031 | United Internet AG | EUR | 0 | 1,814,386 | 1,295,014 | 19.0450 | 24,663,541.63 | 0.20 |
|  |  |  |  |  |  |  | 1,183,385,985.38 | 9.64 |
| France |  |  |  |  |  |  |  |  |
| FR0010307819 | Legrand S.A. | EUR | 315,000 | 75,000 | 2,550,000 | 64.9600 | 165,648,000.00 | 1.35 |
|  |  |  |  |  |  |  | 165,648,000.00 | 1.35 |
| Japan |  |  |  |  |  |  |  |  |
| JP3236200006 | Keyence Corporation | JPY | 82,900 | 0 | 82,900 | 47,900.0000 | 28,126,097.87 | 0.23 |
|  |  |  |  |  |  |  | 28,126,097.87 | 0.23 |
| Canada |  |  |  |  |  |  |  |  |
| CA0084741085 | Agnico Eagle Mines Ltd. | USD | 2,313,253 | 763,253 | 2,500,000 | 41.4300 | 106,067,588.33 | 0.86 |
| CA0679011084 | Barrick Gold Corporation | USD | 3,220,000 | 3,211,876 | 17,008,124 | 15.1000 | 263,003,248.75 | 2.14 |
| CA21037X1006 | Constellation Software Inc. | CAD | 6,571 | 22,000 | 96,671 | 1,931.5000 | 139,436,962.51 | 1.14 |
|  |  |  |  |  |  |  | 508,507,799.59 | 4.14 |
| Luxembourg |  |  |  |  |  |  |  |  |
| LU1778762911 | SPOTIFY TECHNOLOGY S.A. | USD | 0 | 56,700 | 134,800 | 86.8400 | 11,987,743.98 | 0.10 |
|  |  |  |  |  |  |  | 11,987,743.98 | 0.10 |
| Switzerland |  |  |  |  |  |  |  |  |
| CH0038863350 | Nestlé S.A. | CHF | 0 | 875,000 | 3,900,000 | 106.5600 | 433,894,341.20 | 3.53 |
| CH0012032048 | Roche Holding AG Genussscheine | CHF | 0 | 327,000 | 391,000 | 320.2500 | 130,734,756.73 | 1.06 |
|  |  |  |  |  |  |  | 564,629,097.93 | 4.59 |
| United States of | America |  |  |  |  |  |  |  |
| US0028241000 | Abbott Laboratories | USD | 426,000 | 120,000 | 1,951,000 | 98.2900 | 196,378,689.20 | 1.60 |
| US00507V1098 | Activision Blizzard Inc. | USD | 1,047,464 | 0 | 1,047,464 | 74.8700 | 80,310,936.69 | 0.65 |
| US00724F1012 | Adobe Inc. | USD | 568,300 | 111,800 | 538,000 | 278.2500 | 153,301,075.27 | 1.25 |
| US02079K3059 | Alphabet Inc. | USD | 4,765,350 | 370,850 | 4,670,000 | 97.4200 | 465,900,051.20 | 3.79 |
| US0231351067 | Amazon.com Inc. | USD | 3,167,700 | 1,049,580 | 2,210,000 | 114.8000 | 259,813,620.07 | 2.12 |
| US0311001004 | AMETEK Inc. | USD | 248,406 | 10,400 | 518,006 | 113.2800 | 60,091,878.83 | 0.49 |
| US0320951017 | Amphenol Corporation | USD | 460,607 | 85,000 | 2,790,607 | 67.9200 | 194,099,362.46 | 1.58 |
| US0378331005 | Apple Inc. | USD | 275,000 | 822,000 | 1,170,000 | 142.4800 | 170,713,364.06 | 1.39 |
| US0846707026 | Berkshire Hathaway Inc. | USD | 212,538 | 492,376 | 1,510,162 | 269.5800 | 416,906,781.32 | 3.39 |

Equities, rights and participation certificates Exchange-traded securities
reporting period reporting period	Quantity	Price
EUR
NSFA 1)
1) NSFA = net sub-fund assets. Due to rounding differences in individual amounts, totals may differ from the actual value.
FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II

#### Statement of assets as at 30 September 2022 (continued)
| ISIN | Securities |  | Additions in the reporting period | Disposals in the reporting period | Quantity | Price | Market value EUR | % share of NSFA 1) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| US09247X1019 | Blackrock Inc. | USD | 22,509 | 37,509 | 260,000 | 563.9200 | 150,147,670.25 | 1.22 |
| US8085131055 | Charles Schwab Corporation | USD | 1,522,000 | 37,000 | 2,580,000 | 72.6400 | 191,921,351.77 | 1.56 |
| US2358511028 | Danaher Corporation | USD | 522,000 | 59,000 | 463,000 | 262.1500 | 124,296,415.77 | 1.01 |
| US2561631068 | DocuSign Inc. | USD | 1,940,000 | 0 | 1,940,000 | 55.2000 | 109,665,130.57 | 0.89 |
| US29786A1060 | Etsy Inc. | USD | 482,023 | 346,523 | 845,000 | 101.5200 | 87,848,847.93 | 0.72 |
| US34959J1088 | Fortive Corporation | USD | 1,322,381 | 185,317 | 3,713,683 | 59.2100 | 225,178,873.97 | 1.83 |
| US4523081093 | Illinois Tool Works Inc. | USD | 0 | 47,984 | 992,016 | 183.8800 | 186,801,743.04 | 1.52 |
| US45866F1049 | Intercontinental Exchange Inc. | USD | 1,008,000 | 28,000 | 1,805,000 | 90.7500 | 167,745,775.73 | 1.37 |
| US4781601046 | Johnson & Johnson | USD | 230,000 | 1,160,731 | 1,181,000 | 164.5300 | 198,986,103.43 | 1.62 |
| US57636Q1040 | Mastercard Inc. | USD | 132,500 | 86,500 | 465,000 | 286.7700 | 136,557,142.86 | 1.11 |
| US57667L1070 | Match Group Inc. | USD | 2,073,000 | 0 | 2,073,000 | 48.2500 | 102,429,339.48 | 0.83 |
| US30303M1027 | Meta Platforms Inc. | USD | 615,500 | 173,828 | 1,661,672 | 136.4100 | 232,123,581.69 | 1.89 |
| US5949181045 | Microsoft Corporation | USD | 102,000 | 132,000 | 1,146,000 | 237.5000 | 278,725,038.40 | 2.27 |
| US6153691059 | Moody's Corporation | USD | 265,955 | 10,000 | 561,955 | 246.5600 | 141,890,040.76 | 1.16 |
| US6516391066 | Newmont Corporation | USD | 2,360,000 | 1,760,000 | 5,890,000 | 41.7600 | 251,885,714.29 | 2.05 |
| US7134481081 | PepsiCo Inc. | USD | 0 | 890,000 | 1,045,000 | 166.6100 | 178,297,439.84 | 1.45 |
| US72352L1061 | Pinterest Inc. | USD | 2,851,014 | 1,757,629 | 8,700,000 | 23.1900 | 206,608,294.93 | 1.68 |
| US7766961061 | Roper Technologies Inc. | USD | 139,339 | 8,000 | 324,339 | 366.7500 | 121,813,956.22 | 0.99 |
| US79466L3024 | Salesforce Inc. | USD | 281,063 | 23,000 | 918,063 | 146.8100 | 138,024,402.49 | 1.12 |
| US83304A1060 | Snap Inc. | USD | 3,284,000 | 825,000 | 2,459,000 | 10.1900 | 25,660,225.29 | 0.21 |
| US7427181091 | The Procter & Gamble Co. | USD | 0 | 688,000 | 1,562,000 | 128.7000 | 205,867,281.11 | 1.68 |
| US8835561023 | Thermo Fisher Scientific Inc. | USD | 100,350 | 5,600 | 258,745 | 516.6100 | 136,887,101.33 | 1.11 |
| US8982021060 | Trupanion Inc. | USD | 603,252 | 0 | 603,252 | 60.7900 | 37,554,213.09 | 0.31 |
| US90138F1021 | Twilio Inc. | USD | 1,350,000 | 0 | 1,350,000 | 70.5900 | 97,589,861.75 | 0.79 |
| US90353T1007 | Uber Technologies Inc. | USD | 0 | 2,795,500 | 1,039,601 | 26.4200 | 28,127,248.77 | 0.23 |
| US92345Y1064 | Verisk Analytics Inc. | USD | 0 | 85,000 | 570,000 | 173.5500 | 101,304,147.47 | 0.82 |
| US92826C8394 | VISA Inc. | USD | 152,000 | 105,500 | 775,000 | 180.0600 | 142,904,761.90 | 1.16 |
| US88579Y1010 | 3M Co. | USD | 179,349 | 134,000 | 2,515,349 | 112.3000 | 289,271,574.71 | 2.36 |
|  |  |  |  |  |  |  | 6,293,629,037.94 | 51.22 |
| United Kingdom |  |  |  |  |  |  |  |  |
| GB00B24CGK77 | Reckitt Benckiser Group Plc. | GBP | 0 | 2,024,000 | 2,926,000 | 61.2400 | 202,518,354.43 | 1.65 |
| GB00B10RZP78 | Unilever Plc. | EUR | 26,198 | 3,356,198 | 4,870,000 | 45.9200 | 223,630,400.00 | 1.82 |
|  |  |  |  |  |  |  | 426,148,754.43 | 3.47 |

| Exchange-traded securities | 9,321,897,768.13 | 75.87 |
| --- | --- | --- |
| Equities, rights and participation certificates | 9,321,897,768.13 | 75.87 |
| Bonds |  |  |
| Exchange-traded securities |  |  |
| EUR |  |  |  |  |  |  |  |  |
| XS1629774230 | 3.875% | Volkswagen International Finance NV- Reg.S. Fix-to-Float Perp. | 70,400,000 | 0 | 70,400,000 | 85.5000 | 60,192,000.00 | 0.49 |
| XS2342732562 | 3.748% | Volkswagen International Finance NV- Reg.S. Fix-to-Float Perp. | 52,000,000 | 0 | 52,000,000 | 84.4640 | 43,921,280.00 | 0.36 |
| XS2187689380 | 3.875% | Volkswagen International Finance NV- Reg.S. Fix-to-Float Perp. | 67,000,000 | 0 | 67,000,000 | 81.0000 | 54,270,000.00 | 0.44 |
| XS1799939027 | 4.625% | Volkswagen International Finance NV- Reg.S. Fix-to-Float Perp. | 42,000,000 | 0 | 42,000,000 | 87.0000 | 36,540,000.00 | 0.30 |

1) NSFA = net sub-fund assets. Due to rounding differences in individual amounts, totals may differ from the actual value.
FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II

#### Statement of assets as at 30 September 2022 (continued)
| ISIN | Securities | Additions in the reporting period | Disposals in the reporting period | Quantity | Price | Market value EUR | % share of NSFA 1) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| XS2342732646 | 4.375% | Volkswagen International Finance | 65,000,000 | 0 | 65,000,000 | 78.0000 | 50,700,000.00 | 0.41 |  |
|  |  | NV- Reg.S. Fix-to-Float Perp. |  |  |  |  |  |  |  |
| XS2010039894 | 3.000% | ZF Europe Finance BV v.19(2029) | 1,800,000 | 0 | 1,800,000 | 71.1860 | 1,281,348.00 | 0.01 |  |
| XS2399851901 | 2.250% | ZF Finance GmbH EMTN Reg.S. | 8,500,000 | 0 | 8,500,000 | 73.0000 | 6,205,000.00 | 0.05 |  |
|  |  | Green Bond v.21(2028) |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | 253,109,628.00 | 2.06 |  |
| USD |  |  |  |  |  |  |  |  |  |
| US91282CEJ62 | 0.125% | United States of America ILB v.22 (2027) 2) | 102,000,000 | 0 | 102,000,000 | 92.5313 | 101,417,263.31 | 0.83 |  |
| US91282CEZ05 | 0.625% | UnitedStatesofAmerica ILBv.22 (2032) 3) | 77,000,000 | 0 | 77,000,000 | 91.1758 | 73,309,053.38 | 0.60 |  |
|  |  |  |  |  |  |  | 174,726,316.69 | 1.43 |  |
| Exchange-traded securities |  |  |  |  | 427,835,944.69 | 3.49 |  |
| Securities admitted to trading or included in organised markets |  |  |  |  |  |  |  |
| EUR |  |  |  |  |  |  |  |
| XS2114413565  2.875% AT & T Inc. Fix-to-Float Perp. | 15,600,000 | 0 | 15,600,000 | 88.2600 | 13,768,560.00 | 0.11 |  |
|  |  |  |  |  | 13,768,560.00 | 0.11 |  |
| Securities admitted to trading or included in organised markets |  |  |  |  | 13,768,560.00 | 0.11 |  |
| Bonds |  |  |  |  | 441,604,504.69 | 3.60 |  |
| Convertible bonds |  |  |  |  |  |  |  |
| Securities admitted to trading or included in organised markets |  |  |  |  |  |  |  |

EUR
DE000A3E46Y9 0.625% TAG Immobilien AG/TAG
Immobilien AG Reg.S. CV v.20 (2026)
17,300,000	0 17,300,000	73.9590	12,794,907.000.10
12,794,907.00	0.10
USD
US83304AAG13 0.125% Snap Inc./Snap Inc. CV v.22
(2028)
50,000,000	0 50,000,000	67.7510	34,690,732.210.28
| 34,690,732.21 | 0.28 |
| --- | --- |
| Securities admitted to trading or included in organised markets | 47,485,639.21 | 0.38 |
| Convertible bonds | 47,485,639.21 | 0.38 |
| Certificates |  |  |
| Exchange-traded securities |  |  |
| Ireland |  |  |
| IE00B579F325 Invesco Physical Markets Plc./Gold USD0 | 1,768,954 | 7,191,046 | 160.1300 | 1,179,213,718.36 | 9.60 |
| Ounce Cert. v.09(2100) |  |  |  |  |  |  |  |
|  |  |  |  |  |  | 1,179,213,718.36 | 9.60 |
| Exchange-traded securities |  |  |  |  |  | 1,179,213,718.36 | 9.60 |
| Certificates |  |  |  |  |  | 1,179,213,718.36 | 9.60 |
| Securities holdings |  |  |  |  |  | 10,990,201,630.39 | 89.45 |
| Bank balances - current account 4) |  |  |  |  |  | 1,371,454,759.46 | 11.17 |
| Balance of other receivables and payables |  |  |  |  |  | -80,387,979.65 | -0.62 |
| Net sub-fund assets in EUR |  |  |  |  |  | 12,281,268,410.20 | 100.00 |

1) NSFA = net sub-fund assets. Due to rounding differences in individual amounts, totals may differ from the actual value.
2) This security is an inflation-linked bond with an inflation index factor of 1.0493.
3) This security is an inflation-linked bond with an inflation index factor of 1.0197.
4) See the notes to the annual report.
FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II

#### Forward exchange transactions
As at 30 September 2022, the following forward exchange transactions were outstanding:
% share
| Currency | Counterparty |  | Currency amount | Market value EUR | of NSFA 1) |
| --- | --- | --- | --- | --- | --- |
| CHF/EUR | DZ PRIVATBANK S.A. | Currency purchases | 199,800,000.00 | 208,823,471.00 | 1.70 |
| USD/EUR | DZ PRIVATBANK S.A. | Currency purchases | 87,130,000.00 | 88,916,056.84 | 0.72 |
| EUR/JPY | J.P. Morgan SE | Currency sales | 3,500,000,000.00 | 24,804,392.91 | 0.20 |
| EUR/USD | DZ PRIVATBANK S.A. | Currency sales | 1,040,000,000.00 | 1,061,883,290.86 | 8.65 |
| EUR/USD | J.P. Morgan SE | Currency sales | 770,000,000.00 | 783,707,833.72 | 6.38 |


#### Exchange rates
The values of assets denominated in foreign currencies are given in euro, applying the exchange rates prevailing on 30 September 2022 as stated below.
| British pound | GBP | 1 | 0.8848 |
| --- | --- | --- | --- |
| Danish krone | DKK | 1 | 7.4361 |
| Hong Kong dollar | HKD | 1 | 7.6652 |
| Japanese yen | JPY | 1 | 141.1824 |
| Canadian dollar | CAD | 1 | 1.3391 |
| Swiss franc | CHF | 1 | 0.9578 |
| US dollar | USD | 1 | 0.9765 |

1) NSFA = net sub-fund assets. Due to rounding differences in individual amounts, totals may differ from the actual value.

Translation (ENDE, 2022-09-30):
# FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II
Jahresbericht
1. Oktober 2021 - 30. September 2022
Die Verwaltungsgesellschaft des Fonds ist berechtigt, Anteilklassen mit unterschiedlichen Rechten hinsichtlich der Anteile zu bilden. Derzeit bestehen die folgenden Anteilklassen mit den Ausgestaltungsmerkmalen:
|  | Anteilklasse I | Anteilklasse R | Anteilklasse IT | Anteilklasse RT |
| --- | --- | --- | --- | --- |
| WP-Kenn-Nr.: | A1W17X | A1W17Y | A1XEQ3 | A1XEQ4 |
| ISIN-Code: | LU0952573300 | LU0952573482 | LU1038809049 | LU1038809395 |
| Ausgabeaufschlag: | bis zu 5,00 % | bis zu 5,00 % | bis zu 5,00 % | bis zu 5,00 % |
| Rücknahmeabschlag: | keiner | keiner | keiner | keiner |
| Verwaltungsvergütung: | 0,78 % p.a. | 1,53 % p.a. | 0,78 % p.a. | 1,53 % p.a. |
| Mindesterstanlage: | 1.000.000,00 EUR | keine | 1.000.000,00 EUR | keine |
| Ertragsverwendung: | ausschüttend | ausschüttend | thesaurierend | thesaurierend |
| Währung: | EUR | EUR | EUR | EUR |
|  | Anteilklasse ET | Anteilklasse CHF-IT | Anteilklasse CHF-RT | Anteilklasse USD-IT |
| WP-Kenn-Nr.: | A14ULR | A1182B | A1182C | A14YS0 |
| ISIN-Code: | LU1245469744 | LU1172942424 | LU1172943745 | LU1280372415 |
| Ausgabeaufschlag: | bis zu 1,00 % | bis zu 5,00 % | bis zu 5,00 % | bis zu 5,00 % |
| Rücknahmeabschlag: | keiner | keiner | keiner | keiner |
| Verwaltungsvergütung: | 1,93 % p.a. | 0,78 % p.a. | 1,53 % p.a. | 0,78 % p.a. |
| Mindesterstanlage: | keine | 1.000.000,00 CHF | keine | 1.000.000,00 USD |
| Ertragsverwendung: | thesaurierend | thesaurierend | thesaurierend | thesaurierend |
| Währung: | EUR | CHF | CHF | USD |
|  | Anteilklasse USD-RT | Anteilklasse MT | Anteilklasse H | Anteilklasse HT |
| WP-Kenn-Nr.: | A14YS1 | A2H690 | A2JA86 | A2JA87 |
| ISIN-Code: | LU1280372688 | LU1716948093 | LU1748854863 | LU1748854947 |
| Ausgabeaufschlag: | bis zu 5,00 % | keiner | keiner | keiner |
| Rücknahmeabschlag: | keiner | keiner | keiner | keiner |
| Verwaltungsvergütung: | 1,53 % p.a. | 0,65 % p.a. | 0,98 % p.a. | 0,98 % p.a. |
| Mindesterstanlage: | keine | keine | keine | keine |
| Ertragsverwendung: | thesaurierend | thesaurierend | ausschüttend | thesaurierend |
| Währung: | USD | EUR | EUR | EUR |

FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II
| Anteilklasse CHF-HT | Anteilklasse USD-ET | Anteilklasse Q |  |
| --- | --- | --- | --- |
| WP-Kenn-Nr.:	A2JA89 | A2P9FT | A2QQ1E |
| ISIN-Code:	LU1748855167 | LU2207301743 | LU2312730349 |
| Ausgabeaufschlag:	keiner | bis zu 1,00 % | bis zu 5,00% |
| Rücknahmeabschlag:	keiner | keiner | keiner |
| Verwaltungsvergütung:	0,98 % p.a. | 1,93 % p.a. | 0,78 % p.a. |
| Mindesterstanlage:	keine | keine | 25.000.000,00 EUR |
| Ertragsverwendung:	thesaurierend | thesaurierend | ausschüttend |
| Währung:	CHF | USD | EUR |
| Geografische Länderaufteilung 1) |  |  |
| Vereinigte Staaten von Amerika |  |  | 53,04 % |
| Deutschland |  |  | 9,79 % |
| Irland |  |  | 9,60 % |
| Schweiz |  |  | 4,59 % |
| Kanada |  |  | 4,14 % |
| Vereinigtes Königreich |  |  | 3,47 % |
| Niederlande |  |  | 2,01 % |
| Frankreich |  |  | 1,35 % |
| Cayman Inseln |  |  | 1,13 % |
| Japan |  |  | 0,23 % |
| Luxemburg |  |  | 0,10 % |
| Wertpapiervermögen |  |  | 89,45 % |
| Bankguthaben 2) |  |  | 11,17 % |
| Saldo aus sonstigen Forderungen und Verbindlichkeiten |  |  | -0,62 % |
|  |  |  | 100,00 % |

1) Aufgrund von Rundungsdifferenzen in den Einzelpositionen können die Summen vom tatsächlichen Wert abweichen.
2) Siehe Erläuterungen zum Jahresbericht.
| FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II |  |
| --- | --- |
| Branchenaufteilung 1) |
| Roh-, Hilfs- & Betriebsstoffe | 14,65 % |
| Software & Dienste | 11,36 % |
| Media & Entertainment | 9,05 % |
| Investitionsgüter | 8,06 % |
| Diversifizierte Finanzdienste | 7,78 % |
| Automobile & Komponenten | 6,56 % |
| Pharmazeutika, Biotechnologie & Biowissenschaften | 5,94 % |
| Haushaltsartikel & Körperpflegeprodukte | 5,15 % |
| Lebensmittel, Getränke & Tabak | 4,98 % |
| Groß- und Einzelhandel | 4,35 % |
| Versicherungen | 3,70 % |
| Hardware & Ausrüstung | 3,31 % |
| Gesundheitswesen: Ausstattung & Dienste | 1,60 % |
| Staatsanleihen | 1,43 % |
| Gewerbliche Dienste & Betriebsstoffe | 0,82 % |
| Immobilien | 0,28 % |
| Transportwesen | 0,23 % |
| Telekommunikationsdienste | 0,20 % |
| Wertpapiervermögen | 89,45 % |
| Bankguthaben 2) | 11,17 % |
| Saldo aus sonstigen Forderungen und Verbindlichkeiten | -0,62 % |
|  | 100,00 % |
| Entwicklung der letzten 3 Geschäftsjahre |  |
| Anteilklasse I |  |
|  | Netto- Anteilklassenvermögen |  | Netto- Mittelaufkommen | Anteilwert |
| Datum | Mio. EUR | Umlaufende Anteile | Tsd. EUR | EUR |
| 30.09.2020 | 875,29 | 5.412.889 | -38.323,86 | 161,70 |
| 30.09.2021 | 619,59 | 3.562.630 | -310.609,92 | 173,92 |
| 30.09.2022 | 530,79 | 3.349.666 | -32.660,92 | 158,46 |

| Anteilklasse R |  |
| --- | --- |
|  | Netto- Anteilklassenvermögen |  | Netto- Mittelaufkommen | Anteilwert |
| Datum | Mio. EUR | Umlaufende Anteile | Tsd. EUR | EUR |
| 30.09.2020 | 6.219,03 | 40.851.351 | 1.759.025,67 | 152,24 |
| 30.09.2021 | 7.681,78 | 47.266.686 | 1.012.060,90 | 162,52 |
| 30.09.2022 | 7.113,78 | 48.407.744 | 188.191,33 | 146,96 |

1) Aufgrund von Rundungsdifferenzen in den Einzelpositionen können die Summen vom tatsächlichen Wert abweichen.
2) Siehe Erläuterungen zum Jahresbericht.
| Anteilklasse IT |  |
| --- | --- |
|  | Netto- Anteilklassenvermögen |  | Netto- Mittelaufkommen |  | Anteilwert |
| Datum | Mio. EUR | Umlaufende Anteile | Tsd. EUR |  | EUR |
| 30.09.2020 | 968,60 | 6.019.706 | 340.533,19 |  | 160,90 |
| 30.09.2021 | 1.278,74 | 7.354.869 | 227.778,38 |  | 173,86 |
| 30.09.2022 | 1.253,35 | 7.869.031 | 94.603,07 |  | 159,28 |
| Anteilklasse RT |  |  |  |  |  |
|  | Netto- Anteilklassenvermögen |  | Netto- Mittelaufkommen |  | Anteilwert |
| Datum | Mio. EUR | Umlaufende Anteile | Tsd. EUR |  | EUR |
| 30.09.2020 | 1.940,20 | 12.653.543 | 361.817,56 |  | 153,33 |
| 30.09.2021 | 2.540,98 | 15.423.722 | 443.507,96 |  | 164,74 |
| 30.09.2022 | 2.049,02 | 13.674.702 | -293.121,44 |  | 149,84 |
| Anteilklasse ET |  |  |  |  |  |
|  | Netto- Anteilklassenvermögen |  | Netto- Mittelaufkommen |  | Anteilwert |
| Datum | Mio. EUR | Umlaufende Anteile | Tsd. EUR |  | EUR |
| 30.09.2020 | 298,74 | 2.313.785 | 146.795,64 |  | 129,11 |
| 30.09.2021 | 460,36 | 3.334.749 | 137.931,43 |  | 138,05 |
| 30.09.2022 | 441,74 | 3.533.678 | 30.399,40 |  | 125,01 |
| Anteilklasse CHF-IT |  |  |  |  |  |
|  | Netto- Anteilklassenvermögen |  | Netto- Mittelaufkommen | Anteilwert | Anteilwert |
| Datum | Mio. EUR | Umlaufende Anteile | Tsd. EUR | EUR | CHF |
| 30.09.2020 | 77,22 | 640.295 | 26.733,55 | 120,60 1) | 130,37 |
| 30.09.2021 | 86,02 | 663.153 | 2.508,21 | 129,71 2) | 140,58 |
| 30.09.2022 | 93,64 | 698.307 | 4.809,49 | 134,09 3) | 128,43 |
| Anteilklasse CHF-RT |  |  |  |  |  |
|  | Netto- Anteilklassenvermögen |  | Netto- Mittelaufkommen | Anteilwert | Anteilwert |
| Datum | Mio. EUR | Umlaufende Anteile | Tsd. EUR | EUR | CHF |
| 30.09.2020 | 63,62 | 551.271 | 22.737,57 | 115,41 1) | 124,76 |
| 30.09.2021 | 88,50 | 718.350 | 20.217,03 | 123,20 2) | 133,52 |
| 30.09.2022 | 99,36 | 786.247 | 8.629,78 | 126,38 3) | 121,05 |

1) umgerechnet Devisenkurse in Euro per 30. September 2020 1 EUR = 1,0810 CHF
2) umgerechnet Devisenkurse in Euro per 30. September 2021 1 EUR = 1,0838 CHF
3) umgerechnet Devisenkurse in Euro per 30. September 2022 1 EUR = 0,9578 CHF
| Anteilklasse USD-IT |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
|  | Netto- Anteilklassenvermögen |  | Netto- Mittelaufkommen | Anteilwert | Anteilwert |
| Datum | Mio. EUR | Umlaufende Anteile | Tsd. EUR | EUR | USD |
| 30.09.2020 | 30,37 | 253.705 | 16.855,57 | 119,71 1) | 140,42 |
| 30.09.2021 | 30,88 | 235.025 | -1.672,19 | 131,38 2) | 152,58 |
| 30.09.2022 | 28,12 | 192.930 | -5.851,08 | 145,78 3) | 142,35 |
| Anteilklasse USD-RT |  |  |  |  |  |
|  | Netto- Anteilklassenvermögen |  | Netto- Mittelaufkommen | Anteilwert | Anteilwert |
| Datum | Mio. EUR | Umlaufende Anteile | Tsd. EUR | EUR | USD |
| 30.09.2020 | 25,89 | 221.516 | 13.411,80 | 116,90 1) | 137,12 |
| 30.09.2021 | 44,82 | 351.602 | 15.958,26 | 127,49 2) | 148,07 |
| 30.09.2022 | 54,11 | 386.524 | 4.679,94 | 140,00 3) | 136,71 |
| Anteilklasse MT |  |  |  |  |  |
|  | Netto- Anteilklassenvermögen |  | Netto- Mittelaufkommen |  | Anteilwert |
| Datum | Mio. EUR | Umlaufende Anteile | Tsd. EUR |  | EUR |
| 30.09.2020 | 227,45 | 1.875.476 | 76.158,30 |  | 121,28 |
| 30.09.2021 | 302,11 | 2.276.853 | 51.955,65 |  | 132,69 |
| 30.09.2022 | 276,44 | 2.269.689 | -1.885,32 |  | 121,80 |
| Anteilklasse H |  |  |  |  |  |
|  | Netto- Anteilklassenvermögen |  | Netto- Mittelaufkommen |  | Anteilwert |
| Datum | Mio. EUR | Umlaufende Anteile | Tsd. EUR |  | EUR |
| 30.09.2020 | 55,78 | 474.953 | 21.777,85 |  | 117,45 |
| 30.09.2021 | 75,23 | 596.963 | 14.949,13 |  | 126,02 |
| 30.09.2022 | 61,14 | 533.371 | -7.733,50 |  | 114,62 |
| Anteilklasse HT |  |  |  |  |  |
|  | Netto- Anteilklassenvermögen |  | Netto- Mittelaufkommen |  | Anteilwert |
| Datum | Mio. EUR | Umlaufende Anteile | Tsd. EUR |  | EUR |
| 30.09.2020 | 40,46 | 340.004 | 25.860,26 |  | 119,00 |
| 30.09.2021 | 68,20 | 531.696 | 24.197,91 |  | 128,26 |
| 30.09.2022 | 75,76 | 646.136 | 14.922,68 |  | 117,26 |

1) umgerechnet Devisenkurse in Euro per 30. September 2020 1 EUR = 1,1730 USD
2) umgerechnet Devisenkurse in Euro per 30. September 2021 1 EUR = 1,1614 USD
3) umgerechnet Devisenkurse in Euro per 30. September 2022 1 EUR = 0,9765 USD
| Anteilklasse CHF-HT |  |
| --- | --- |
| Netto- Anteilklassenvermögen |  | Netto- Mittelaufkommen | Anteilwert | Anteilwert |
| Datum	Mio. EUR | Umlaufende Anteile | Tsd. EUR | EUR | CHF |
| 30.09.2020	3,70 | 34.002 | 2.292,99 | 108,96 1) | 117,79 |
| 30.09.2021	5,43 | 46.551 | 1.484,32 2) | 116,71 3) | 126,49 |
| 30.09.2022	5,97 | 49.784 | 365,17 | 119,89 4) | 114,83 |
| Anteilklasse USD-ET |  |  |  |  |
| Netto- Anteilklassenvermögen |  | Netto- Mittelaufkommen | Anteilwert | Anteilwert |
| Datum	Mio. EUR | Umlaufende Anteile | Tsd. EUR | EUR | USD |
| 30.09.2020	0,27 | 3.212 | 188,20 | 85,07 5) | 99,79 |
| 30.09.2021	3,99 | 43.451 | 3.589,15 | 91,91 6) | 106,74 |
| 30.09.2022	3,77 | 37.440 | -612,65 | 100,70 7) | 98,33 |
| Entwicklung seit Auflegung |  |  |  |  |
| Anteilklasse Q |  |  |  |  |
|  | Netto- Anteilklassenvermögen |  | Netto- Mittelaufkommen | Anteilwert |
| Datum | Mio. EUR | Umlaufende Anteile | Tsd. EUR | EUR |
| 15.03.2021 | Auflegung | - | - | 100,00 |
| 30.09.2021 | 222,28 | 2.106.830 | 214.088,81 | 105,51 |
| 30.09.2022 | 194,27 | 2.016.871 | -9.471,92 | 96,32 |

1) umgerechnet Devisenkurse in Euro per 30. September 2020 1 EUR = 1,0810 CHF
2) Diese Position enthält Mittelzuflüsse aus der Fusion der Anteilklasse CHF-H in die Anteilklasse CHF-HT.
3) umgerechnet Devisenkurse in Euro per 30. September 2021 1 EUR = 1,0838 CHF
4) umgerechnet Devisenkurse in Euro per 30. September 2022 1 EUR = 0,9578 CHF
5) umgerechnet Devisenkurse in Euro per 30. September 2020 1 EUR = 1,1730 USD
6) umgerechnet Devisenkurse in Euro per 30. September 2021 1 EUR = 1,1614 USD
7) umgerechnet Devisenkurse in Euro per 30. September 2022 1 EUR = 0,9765 USD
FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II

#### Zusammensetzung des Netto-Teilfondsvermögens
zum 30. September 2022
EUR
Wertpapiervermögen	10.990.201.630,39
(Wertpapiereinstandskosten: EUR 10.469.707.922,60)
Bankguthaben 1)	1.371.454.759,46
Zinsforderungen	5.038.316,49
Dividendenforderungen	3.537.885,68
Forderungen aus Absatz von Anteilen	7.065.383,36
12.377.297.975,38
Verbindlichkeiten aus Rücknahmen von Anteilen	-15.351.071,09
Nicht realisierte Verluste aus Devisentermingeschäften	-24.698.309,93
Verbindlichkeiten aus Wertpapiergeschäften	-35.211.977,21
Sonstige Passiva 2)	-20.768.206,95
-96.029.565,18
Netto-Teilfondsvermögen	12.281.268.410,20

#### Zurechnung auf die Anteilklassen
Anteilklasse I
Anteiliges Netto-Teilfondsvermögen	530.788.806,01 EUR
Umlaufende Anteile	3.349.666,132
Anteilwert	158,46 EUR
Anteilklasse R
Anteiliges Netto-Teilfondsvermögen	7.113.782.581,18 EUR
Umlaufende Anteile	48.407.744,366
Anteilwert	146,96 EUR
Anteilklasse IT
Anteiliges Netto-Teilfondsvermögen	1.253.346.788,99 EUR
Umlaufende Anteile	7.869.031,191
Anteilwert	159,28 EUR
Anteilklasse RT
Anteiliges Netto-Teilfondsvermögen	2.049.020.863,70 EUR
Umlaufende Anteile	13.674.702,022
Anteilwert	149,84 EUR
Anteilklasse ET
Anteiliges Netto-Teilfondsvermögen	441.735.867,61 EUR
Umlaufende Anteile	3.533.678,476
Anteilwert	125,01 EUR
Anteilklasse CHF-IT
Anteiliges Netto-Teilfondsvermögen	93.639.376,24 EUR
Umlaufende Anteile	698.306,903
Anteilwert	134,09 EUR 3)
Anteilwert	128,43 CHF
1) Siehe Erläuterungen zum Jahresbericht.
2) Diese Position setzt sich im Wesentlichen zusammen aus Verwaltungsvergütung und Performancevergütung.
3) umgerechnet Devisenkurse in Euro per 30. September 2022 1 EUR = 0,9578 CHF
| FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II |  |
| --- | --- |
| Zurechnung auf die Anteilklassen  (Fortsetzung) |
| Anteilklasse CHF-RT |  |
| Anteiliges Netto-Teilfondsvermögen | 99.364.024,42 EUR |
| Umlaufende Anteile | 786.246,983 |
| Anteilwert | 126,38 EUR 1) |
| Anteilwert | 121,05 CHF |
| Anteilklasse USD-IT |  |
| Anteiliges Netto-Teilfondsvermögen | 28.124.480,14 EUR |
| Umlaufende Anteile | 192.930,174 |
| Anteilwert | 145,78 EUR 2) |
| Anteilwert | 142,35 USD |
| Anteilklasse USD-RT |  |
| Anteiliges Netto-Teilfondsvermögen | 54.114.035,39 EUR |
| Umlaufende Anteile | 386.523,899 |
| Anteilwert | 140,00 EUR 2) |
| Anteilwert | 136,71 USD |
| Anteilklasse MT |  |
| Anteiliges Netto-Teilfondsvermögen | 276.442.527,15 EUR |
| Umlaufende Anteile | 2.269.689,250 |
| Anteilwert | 121,80 EUR |
| Anteilklasse H |  |
| Anteiliges Netto-Teilfondsvermögen | 61.135.548,56 EUR |
| Umlaufende Anteile | 533.371,220 |
| Anteilwert | 114,62 EUR |
| Anteilklasse HT |  |
| Anteiliges Netto-Teilfondsvermögen | 75.763.681,94 EUR |
| Umlaufende Anteile | 646.136,346 |
| Anteilwert | 117,26 EUR |
| Anteilklasse CHF-HT |  |
| Anteiliges Netto-Teilfondsvermögen | 5.968.664,25 EUR |
| Umlaufende Anteile | 49.783,926 |
| Anteilwert | 119,89 EUR 1) |
| Anteilwert | 114,83 CHF |
| Anteilklasse USD-ET |  |
| Anteiliges Netto-Teilfondsvermögen | 3.770.231,53 EUR |
| Umlaufende Anteile | 37.440,104 |
| Anteilwert | 100,70 EUR 2) |
| Anteilwert | 98,33 USD |
| Anteilklasse Q |  |
| Anteiliges Netto-Teilfondsvermögen | 194.270.933,09 EUR |
| Umlaufende Anteile | 2.016.871,000 |
| Anteilwert | 96,32 EUR |

1) umgerechnet Devisenkurse in Euro per 30. September 2022 1 EUR = 0,9578 CHF
2) umgerechnet Devisenkurse in Euro per 30. September 2022 1 EUR = 0,9765 USD
| FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II |  |
| --- | --- |
| Veränderung des Netto-Teilfondsvermögens |
| im Berichtszeitraum vom 1. Oktober 2021 bis zum 30. September 2022 |
| Total | Anteilklasse I | Anteilklasse R | Anteilklasse IT |
| EUR | EUR | EUR | EUR |
| Netto-Teilfondsvermögen zu Beginn des Berichtszeitraumes	13.508.916.053,67 | 619.594.817,38 | 7.681.780.381,81 | 1.278.742.347,48 |
| Ordentlicher Nettoaufwand	-50.365.669,86 | 1.226.096,44 | -39.621.810,57 | 2.761.821,83 |
| Ertrags- und Aufwandsausgleich	1.088.948,73 | 131.201,77 | 813.116,07 | 587.423,34 |
| Mittelzuflüsse aus Anteilverkäufen	2.424.770.592,77 | 138.067.819,17 | 1.091.329.580,67 | 418.353.178,16 |
| Mittelabflüsse aus Anteilrücknahmen	-2.429.506.554,29 | -170.728.741,28 | -903.138.251,88 | -323.750.103,59 |
| Realisierte Gewinne	968.819.477,54 | 41.880.342,04 | 530.205.565,15 | 93.522.102,89 |
| Realisierte Verluste	-682.960.791,56 | -30.214.464,15 | -385.759.931,84 | -68.413.705,87 |
| Nettoveränderung nicht realisierter Gewinne	-732.471.851,07 | -34.283.140,99 | -425.931.143,20 | -80.230.659,43 |
| Nettoveränderung nicht realisierter Verluste	-673.528.151,75 | -31.077.471,01 | -387.690.742,36 | -68.225.615,82 |
| Ausschüttung	-53.493.643,98 | -3.807.653,36 | -48.204.182,67 | 0,00 |
| Netto-Teilfondsvermögen zum Ende des Berichtszeitraumes	12.281.268.410,20 | 530.788.806,01 | 7.113.782.581,18 | 1.253.346.788,99 |
|  |  |  |  |
| Anteilklasse RT | Anteilklasse ET | Anteilklasse CHF-IT | Anteilklasse CHF-RT |
| EUR | EUR | EUR | EUR |
| Netto-Teilfondsvermögen zu Beginn des Berichtszeitraumes	2.540.978.560,36 | 460.355.956,85 | 86.019.736,37 | 88.498.684,37 |
| Ordentlicher Nettoaufwand	-11.548.650,86 | -4.611.334,52 | 217.010,17 | -540.594,93 |
| Ertrags- und Aufwandsausgleich	-793.534,83 | 216.623,75 | 10.716,27 | 39.461,92 |
| Mittelzuflüsse aus Anteilverkäufen	433.784.556,67 | 164.172.994,13 | 16.776.044,55 | 27.245.945,74 |
| Mittelabflüsse aus Anteilrücknahmen	-726.905.997,95 | -133.773.589,86 | -11.966.552,04 | -18.616.167,64 |
| Realisierte Gewinne	152.026.988,16 | 33.337.081,11 | 22.711.039,56 | 23.968.446,27 |
| Realisierte Verluste	-110.307.572,82 | -24.315.245,01 | -11.222.010,75 | -11.811.847,21 |
| Nettoveränderung nicht realisierter Gewinne	-114.060.209,78 | -28.828.326,77 | -4.146.584,83 | -4.378.210,04 |
| Nettoveränderung nicht realisierter Verluste	-114.153.275,25 | -24.818.292,07 | -4.760.023,06 | -5.041.694,06 |
| Ausschüttung	0,00 | 0,00 | 0,00 | 0,00 |
| Netto-Teilfondsvermögen zum Ende des Berichtszeitraumes	2.049.020.863,70 | 441.735.867,61 | 93.639.376,24 | 99.364.024,42 |
|  |  |  |  |
| Anteilklasse USD-IT | Anteilklasse USD-RT | Anteilklasse MT | Anteilklasse H |
| EUR | EUR | EUR | EUR |
| Netto-Teilfondsvermögen zu Beginn des Berichtszeitraumes	30.877.153,94 | 44.824.265,98 | 302.108.579,47 | 75.226.692,32 |
| Ordentlicher Nettoaufwand	68.799,81 | -273.793,39 | 1.339.389,62 | 14.382,64 |
| Ertrags- und Aufwandsausgleich	20.923,65 | 28.873,52 | -34.546,08 | -4.731,31 |
| Mittelzuflüsse aus Anteilverkäufen	6.576.765,46 | 12.373.311,44 | 55.644.454,49 | 16.296.786,47 |
| Mittelabflüsse aus Anteilrücknahmen	-12.427.840,64 | -7.693.371,65 | -57.529.771,35 | -24.030.290,39 |
| Realisierte Gewinne	9.176.584,21 | 14.011.354,56 | 19.685.040,25 | 4.956.903,61 |
| Realisierte Verluste	-2.879.234,25 | -3.942.183,73 | -14.416.586,85 | -3.551.918,19 |
| Nettoveränderung nicht realisierter Gewinne	-1.670.319,01 | -2.569.261,45 | -15.792.534,37 | -3.685.090,95 |
| Nettoveränderung nicht realisierter Verluste	-1.618.353,03 | -2.645.159,89 | -14.561.498,03 | -3.658.792,69 |
| Ausschüttung	0,00 | 0,00 | 0,00 | -428.392,95 |
| Netto-Teilfondsvermögen zum Ende des Berichtszeitraumes	28.124.480,14 | 54.114.035,39 | 276.442.527,15 | 61.135.548,56 |

FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II

#### Veränderung des Netto-Teilfondsvermögens 
(Fortsetzung)
im Berichtszeitraum vom 1. Oktober 2021 bis zum 30. September 2022
|  | Anteilklasse HT EUR | Anteilklasse CHF-HT EUR | Anteilklasse USD-ET EUR | Anteilklasse Q EUR |
| --- | --- | --- | --- | --- |
| Netto-Teilfondsvermögen zu Beginn des Berichtszeitraumes | 68.197.556,03 | 5.432.951,32 | 3.993.456,44 | 222.284.913,55 |
| Ordentlicher Nettoaufwand | -4.834,82 | -7.983,95 | -37.011,44 | 652.844,11 |
| Ertrags- und Aufwandsausgleich | 66.155,59 | 4.777,89 | -5.172,76 | 7.659,94 |
| Mittelzuflüsse aus Anteilverkäufen | 37.264.765,30 | 4.664.846,86 | 2.219.543,66 | 0,00 |
| Mittelabflüsse aus Anteilrücknahmen | -22.342.083,12 | -4.299.677,50 | -2.832.197,54 | -9.471.917,86 |
| Realisierte Gewinne | 5.523.529,25 | 1.545.779,67 | 1.179.885,77 | 15.088.835,04 |
| Realisierte Verluste | -4.066.644,17 | -780.026,36 | -338.164,68 | -10.941.255,68 |
| Nettoveränderung nicht realisierter Gewinne | -4.946.087,51 | -278.330,83 | -199.474,52 | -11.472.477,39 |
| Nettoveränderung nicht realisierter Verluste | -3.928.674,61 | -313.672,85 | -210.633,40 | -10.824.253,62 |
| Ausschüttung | 0,00 | 0,00 | 0,00 | -1.053.415,00 |
| Netto-Teilfondsvermögen zum Ende des Berichtszeitraumes | 75.763.681,94 | 5.968.664,25 | 3.770.231,53 | 194.270.933,09 |
| Entwicklung der Anzahl der Anteile im Umlauf |  |  |  |  |
|  | Anteilklasse I Stück | Anteilklasse R Stück | Anteilklasse IT Stück | Anteilklasse RT Stück |
| Umlaufende Anteile zu Beginn des Berichtszeitraumes | 3.562.629,575 | 47.266.686,192 | 7.354.868,793 | 15.423.722,353 |
| Ausgegebene Anteile | 787.301,979 | 6.728.765,134 | 2.384.721,036 | 2.632.429,259 |
| Zurückgenommene Anteile | -1.000.265,422 | -5.587.706,960 | -1.870.558,638 | -4.381.449,590 |
| Umlaufende Anteile zum Ende des Berichtszeitraumes | 3.349.666,132 | 48.407.744,366 | 7.869.031,191 | 13.674.702,022 |
|  |  |  |  |  |
|  | Anteilklasse ET Stück | Anteilklasse CHF-IT Stück | Anteilklasse CHF-RT Stück | Anteilklasse USD-IT Stück |
| Umlaufende Anteile zu Beginn des Berichtszeitraumes | 3.334.749,359 | 663.152,564 | 718.350,077 | 235.024,720 |
| Ausgegebene Anteile | 1.182.288,552 | 121.565,004 | 209.974,634 | 47.444,069 |
| Zurückgenommene Anteile | -983.359,435 | -86.410,665 | -142.077,728 | -89.538,615 |
| Umlaufende Anteile zum Ende des Berichtszeitraumes | 3.533.678,476 | 698.306,903 | 786.246,983 | 192.930,174 |
|  |  |  |  |  |
|  | Anteilklasse USD-RT Stück | Anteilklasse MT Stück | Anteilklasse H Stück | Anteilklasse HT Stück |
| Umlaufende Anteile zu Beginn des Berichtszeitraumes | 351.601,609 | 2.276.853,453 | 596.962,630 | 531.695,624 |
| Ausgegebene Anteile | 90.727,695 | 418.272,176 | 128.555,334 | 289.355,373 |
| Zurückgenommene Anteile | -55.805,405 | -425.436,379 | -192.146,744 | -174.914,651 |
| Umlaufende Anteile zum Ende des Berichtszeitraumes | 386.523,899 | 2.269.689,250 | 533.371,220 | 646.136,346 |
|  |  |  |  |  |
|  | Anteilklasse CHF-HT Stück | Anteilklasse USD-ET Stück | Anteilklasse Q Stück |  |
| Umlaufende Anteile zu Beginn des Berichtszeitraumes | 46.551,254 | 43.450,576 | 2.106.830,000 |  |
| Ausgegebene Anteile | 37.010,435 | 22.731,531 | 0,000 |  |
| Zurückgenommene Anteile | -33.777,763 | -28.742,003 | -89.959,000 |  |
| Umlaufende Anteile zum Ende des Berichtszeitraumes | 49.783,926 | 37.440,104 | 2.016.871,000 |  |

| FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II |  |
| --- | --- |
| Wertentwicklung in Prozent 1) |
| Stand: 30.09.2022 |
|  | ISIN | Anteilklassen- |  |  |  |  | seit |
| Fonds | WKN | währung | 6 Monate | 1 Jahr | 3 Jahre | 10 Jahre | Auflegung |
| Flossbach von Storch - Multiple Opportunities II I | LU0952573300 |  |  |  |  |  |  |
| seit 01.10.2013 | A1W17X | EUR | -11,42% | -8,38% | 6,03% | — | 66,22% |
| Flossbach von Storch - Multiple Opportunities II R | LU0952573482 |  |  |  |  |  |  |
| seit 01.10.2013 | A1W17Y | EUR | -11,75% | -9,04% | 3,82% | — | 55,73% |
| Flossbach von Storch - Multiple Opportunities II IT | LU1038809049 |  |  |  |  |  |  |
| seit 03.04.2014 | A1XEQ3 | EUR | -11,42% | -8,39% | 5,85% | — | 59,28% |
| Flossbach von Storch - Multiple Opportunities II RT | LU1038809395 |  |  |  |  |  |  |
| seit 03.04.2014 | A1XEQ4 | EUR | -11,76% | -9,05% | 3,80% | — | 49,84% |
| Flossbach von Storch - Multiple Opportunities II ET | LU1245469744 |  |  |  |  |  |  |
| seit 10.07.2015 | A14ULR | EUR | -11,99% | -9,45% | 2,44% | — | 25,01% |
| Flossbach von Storch - Multiple Opportunities II CHF-IT | LU1172942424 |  |  |  |  |  |  |
| seit 27.02.2015 | A1182B | CHF | -11,45% | -8,64% | 4,92% | — | 28,43% |
| Flossbach von Storch - Multiple Opportunities II CHF-RT | LU1172943745 |  |  |  |  |  |  |
| seit 27.02.2015 | A1182C | CHF | -11,93% | -9,34% | 2,67% | — | 21,05% |
| Flossbach von Storch - Multiple Opportunities II USD-IT | LU1280372415 |  |  |  |  |  |  |
| seit 01.07.2016 | A14YS0 | USD | -10,18% | -6,71% | 10,00% | — | 42,35% |
| Flossbach von Storch - Multiple Opportunities II USD-RT | LU1280372688 |  |  |  |  |  |  |
| seit 01.07.2016 | A14YS1 | USD | -10,84% | -7,67% | 7,39% | — | 36,71% |
| Flossbach von Storch - Multiple Opportunities II MT | LU1716948093 |  |  |  |  |  |  |
| seit 18.12.2017 | A2H690 | EUR | -11,63% | -8,21% | 8,36% | — | 21,80% |
| Flossbach von Storch - Multiple Opportunities II H | LU1748854863 |  |  |  |  |  |  |
| seit 05.02.2018 | A2JA86 | EUR | -11,51% | -8,55% | 5,35% | — | 17,47% |
| Flossbach von Storch - Multiple Opportunities II HT | LU1748854947 |  |  |  |  |  |  |
| seit 05.02.2018 | A2JA87 | EUR | -11,53% | -8,58% | 5,14% | — | 17,26% |
| Flossbach von Storch - Multiple Opportunities II CHF-HT | LU1748855167 |  |  |  |  |  |  |
| seit 05.02.2018 | A2JA89 | CHF | -12,05% | -9,22% | 3,62% | — | 17,07% |
| Flossbach von Storch - Multiple Opportunities II Q | LU2312730349 |  |  |  |  |  |  |
| seit 15.03.2021 | A2QQ1E | EUR | -11,34% | -8,29% | — | — | -3,24% |
| Flossbach von Storch - Multiple Opportunities II USD ET seit 24.08.2020 | LU2207301743 A2P9FT | USD | -10,85% | -7,88% | — | — | -1,67% |

1) Auf Basis veröffentlichter Anteilwerte (BVI-Methode), entspricht im Ergebnis der Richtlinie zur “Berechnung und Publikation der Performance von kollektiven Kapitalanlagen“ der Asset Management Association Switzerland vom 16. Mai 2008 (Fassung vom 5. August 2021).
Die historische Performance stellt keinen Indikator für die laufende oder zukünftige Performance dar. Die Performancedaten lassen die bei der Ausgabe und Rücknahme der Anteile erhobenen Kommissionen und Kosten unberücksichtigt.
| FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II |  |
| --- | --- |
| Ertrags- und Aufwandsrechnung |
| im Berichtszeitraum vom 1. Oktober 2021 bis zum 30. September 2022 |
| Total | Anteilklasse I | Anteilklasse R | Anteilklasse IT |
| EUR | EUR | EUR | EUR |
| Erträge |  |  |  |
| Dividenden	156.326.362,33 | 7.044.866,14 | 90.337.890,22 | 16.058.994,73 |
| Zinsen auf Anleihen	1.863.137,99 | 79.038,51 | 1.079.537,77 | 192.438,13 |
| Bankzinsen	-5.182.107,43 | -238.830,18 | -2.992.540,41 | -522.804,08 |
| Bestandsprovisionen	240.359,29 | 11.124,22 | 139.768,90 | 24.578,20 |
| Ertragsausgleich	94.197,09 | -274.256,62 | 478.278,12 | -125.221,48 |
| Erträge insgesamt	153.341.949,27 | 6.621.942,07 | 89.042.934,60 | 15.627.985,50 |
| Aufwendungen |  |  |  |
| Zinsaufwendungen	-116.903,85 | -5.347,36 | -67.773,64 | -11.873,61 |
| Performancevergütung	-3.826.256,77 | -230.462,69 | -1.517.829,04 | -518.601,13 |
| Verwaltungsvergütung / Fondsmanagementvergütung	-186.327.740,43 | -4.739.692,06 | -118.560.282,74 | -10.603.333,88 |
| Verwahrstellenvergütung	-2.271.032,84 | -102.887,44 | -1.312.599,43 | -230.299,40 |
| Zentralverwaltungsstellenvergütung	-969.530,41 | -43.916,16 | -560.353,27 | -98.321,47 |
| Taxe d'abonnement	-6.400.945,24 | -296.698,00 | -3.836.622,02 | -674.658,66 |
| Veröffentlichungs- und Prüfungskosten	-55.838,24 | -2.582,24 | -32.322,88 | -5.677,45 |
| Satz-, Druck- und Versandkosten der Jahres- und Halbjahresberichte	-23.726,68 | -1.084,19 | -13.739,13 | -2.424,55 |
| Register- und Transferstellenvergütung	-165.581,45 | -7.537,34 | -95.875,02 | -16.922,77 |
| Staatliche Gebühren	-28.134,51 | -1.353,94 | -16.336,90 | -2.848,55 |
| Sonstige Aufwendungen 1)	-2.338.782,89 | -107.339,06 | -1.359.616,91 | -239.000,34 |
| Aufwandsausgleich	-1.183.145,82 | 143.054,85 | -1.291.394,19 | -462.201,86 |
| Aufwendungen insgesamt	-203.707.619,13 | -5.395.845,63 | -128.664.745,17 | -12.866.163,67 |
| Ordentlicher Nettoaufwand	-50.365.669,86 | 1.226.096,44 | -39.621.810,57 | 2.761.821,83 |
| Transaktionskosten im Geschäftsjahr gesamt 2)	3.123.788,24 |  |  |  |
| Total Expense Ratio in Prozent 2) | 0,87 | 1,62 | 0,87 |
| Performancevergütung in Prozent 2) | 0,04 | 0,02 | 0,04 |
| Laufende Kosten in Prozent 2) | 0,87 | 1,63 | 0,88 |

1) Die Position setzt sich im Wesentlichen zusammen aus Lagerstellengebühren und Rückstellungen für belgische Abonnementsteuer („Taxe annuelle sur les organismes de placement collectif“).
2) Siehe Erläuterungen zum Jahresbericht.
FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II

#### Ertrags- und Aufwandsrechnung 
(Fortsetzung)
im Berichtszeitraum vom 1. Oktober 2021 bis zum 30. September 2022
| Anteilklasse RT | Anteilklasse ET | Anteilklasse CHF-IT | Anteilklasse CHF-RT |
| --- | --- | --- | --- |
| EUR | EUR | EUR | EUR |
| Erträge |  |  |  |
| Dividenden	26.019.804,98 | 5.708.328,11 | 1.101.266,04 | 1.168.751,34 |
| Zinsen auf Anleihen	309.742,77 | 67.666,97 | 13.942,79 | 14.871,41 |
| Bankzinsen	-874.579,82 | -187.906,49 | -35.588,68 | -37.471,06 |
| Bestandsprovisionen	39.090,09 | 8.786,70 | 1.709,90 | 1.794,45 |
| Ertragsausgleich	138.459,51 | -60.566,71 | 12.750,90 | 17.304,36 |
| Erträge insgesamt	25.632.517,53 | 5.536.308,58 | 1.094.080,95 | 1.165.250,50 |
| Aufwendungen |  |  |  |
| Zinsaufwendungen	-19.393,97 | -4.245,90 | -824,48 | -873,72 |
| Performancevergütung	-1.255.888,66 | -152.751,12 | -25.025,50 | -25.831,75 |
| Verwaltungsvergütung / Fondsmanagementvergütung	-34.497.620,57 | -9.380.814,28 | -736.651,18 | -1.525.977,52 |
| Verwahrstellenvergütung	-381.832,22 | -82.335,81 | -16.001,03 | -16.901,25 |
| Zentralverwaltungsstellenvergütung	-163.019,12 | -35.149,78 | -6.831,72 | -7.215,44 |
| Taxe d'abonnement	-1.080.693,68 | -240.666,64 | -47.779,80 | -50.642,56 |
| Veröffentlichungs- und Prüfungskosten	-9.274,46 | -2.041,45 | -393,06 | -413,20 |
| Satz-, Druck- und Versandkosten der Jahres- und Halbjahresberichte	-3.924,82 | -869,60 | -167,79 | -177,52 |
| Register- und Transferstellenvergütung	-27.379,24 | -6.084,53 | -1.167,84 | -1.240,40 |
| Staatliche Gebühren	-4.571,67 | -1.048,92 | -197,57 | -207,70 |
| Sonstige Aufwendungen 1)	-392.645,30 | -85.578,03 | -18.563,64 | -19.598,09 |
| Aufwandsausgleich	655.075,32 | -156.057,04 | -23.467,17 | -56.766,28 |
| Aufwendungen insgesamt	-37.181.168,39 | -10.147.643,10 | -877.070,78 | -1.705.845,43 |
| Ordentlicher Nettoaufwand	-11.548.650,86 | -4.611.334,52 | 217.010,17 | -540.594,93 |
| Total Expense Ratio in Prozent 2)	1,62 | 2,03 | 0,88 | 1,63 |
| Performancevergütung in Prozent 2)	0,06 | 0,03 | 0,03 | 0,03 |
| Laufende Kosten in Prozent 2)	1,62 | 2,03 | 0,88 | 1,63 |

1) Die Position setzt sich im Wesentlichen zusammen aus Lagerstellengebühren und Rückstellungen für belgische Abonnementsteuer („Taxe annuelle sur les organismes de placement collectif“).
2) Siehe Erläuterungen zum Jahresbericht.
FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II

#### Ertrags- und Aufwandsrechnung 
(Fortsetzung)
im Berichtszeitraum vom 1. Oktober 2021 bis zum 30. September 2022
| Anteilklasse USD-IT | Anteilklasse USD-RT | Anteilklasse MT | Anteilklasse H |
| --- | --- | --- | --- |
| EUR | EUR | EUR | EUR |
| Erträge |  |  |  |
| Dividenden	401.005,76 | 627.213,76 | 3.390.127,15 | 832.464,45 |
| Zinsen auf Anleihen	4.144,78 | 8.022,03 | 41.462,09 | 9.360,05 |
| Bankzinsen	-13.376,85 | -19.574,63 | -110.921,81 | -28.793,39 |
| Bestandsprovisionen	606,75 | 948,57 | 5.105,68 | 1.300,07 |
| Ertragsausgleich	-75.632,46 | -3.630,44 | 121.509,84 | -50.969,58 |
| Erträge insgesamt	316.747,98 | 612.979,29 | 3.447.282,95 | 763.361,60 |
| Aufwendungen |  |  |  |
| Zinsaufwendungen	-288,80 | -457,16 | -2.504,08 | -633,90 |
| Performancevergütung	-10.107,48 | -9.208,49 | 0,00 | -25.060,96 |
| Verwaltungsvergütung / Fondsmanagementvergütung	-260.803,11 | -801.195,49 | -1.881.988,77 | -712.062,93 |
| Verwahrstellenvergütung	-5.660,75 | -8.875,79 | -49.048,41 | -12.302,61 |
| Zentralverwaltungsstellenvergütung	-2.416,67 | -3.789,74 | -20.941,93 | -5.251,48 |
| Taxe d'abonnement	-16.129,54 | -26.634,60 | -28.493,67 | -35.049,75 |
| Veröffentlichungs- und Prüfungskosten	-141,80 | -215,47 | -1.186,65 | -308,30 |
| Satz-, Druck- und Versandkosten der Jahres- und Halbjahresberichte	-59,15 | -93,61 | -506,84 | -129,43 |
| Register- und Transferstellenvergütung	-421,34 | -658,51 | -3.554,85 | -902,80 |
| Staatliche Gebühren	-73,22 | -105,90 | -579,38 | -163,55 |
| Sonstige Aufwendungen 1)	-6.555,12 | -10.294,84 | -32.124,99 | -12.814,14 |
| Aufwandsausgleich	54.708,81 | -25.243,08 | -86.963,76 | 55.700,89 |
| Aufwendungen insgesamt	-247.948,17 | -886.772,68 | -2.107.893,33 | -748.978,96 |
| Ordentlicher Nettoaufwand	68.799,81 | -273.793,39 | 1.339.389,62 | 14.382,64 |
| Total Expense Ratio in Prozent 2)	0,88 | 1,63 | 0,70 | 1,07 |
| Performancevergütung in Prozent 2)	0,03 | 0,02 | - | 0,03 |
| Laufende Kosten in Prozent 2)	0,88 | 1,63 | 0,70 | 1,07 |

1) Die Position setzt sich im Wesentlichen zusammen aus Lagerstellengebühren und Rückstellungen für belgische Abonnementsteuer („Taxe annuelle sur les organismes de placement collectif“).
2) Siehe Erläuterungen zum Jahresbericht.
FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II

#### Ertrags- und Aufwandsrechnung 
(Fortsetzung)
im Berichtszeitraum vom 1. Oktober 2021 bis zum 30. September 2022
| Anteilklasse HT | Anteilklasse CHF-HT | Anteilklasse USD-ET | Anteilklasse Q |
| --- | --- | --- | --- |
| EUR | EUR | EUR | EUR |
| Erträge |  |  |  |
| Dividenden	962.209,49 | 72.814,28 | 50.367,72 | 2.550.258,16 |
| Zinsen auf Anleihen	11.677,71 | 888,34 | 570,36 | 29.774,28 |
| Bankzinsen	-30.278,66 | -2.341,82 | -1.682,29 | -85.417,26 |
| Bestandsprovisionen	1.431,27 | 110,81 | 77,27 | 3.926,41 |
| Ertragsausgleich	538,23 | -1.582,45 | -6.619,93 | -76.164,20 |
| Erträge insgesamt	945.578,04 | 69.889,16 | 42.713,13 | 2.422.377,39 |
| Aufwendungen |  |  |  |
| Zinsaufwendungen	-690,16 | -52,89 | -36,94 | -1.907,24 |
| Performancevergütung	-29.895,69 | -8.749,91 | -5.197,41 | -11.646,94 |
| Verwaltungsvergütung / Fondsmanagementvergütung	-778.230,67 | -60.015,26 | -82.222,36 | -1.706.849,61 |
| Verwahrstellenvergütung	-13.459,04 | -1.037,31 | -721,70 | -37.070,65 |
| Zentralverwaltungsstellenvergütung	-5.746,85 | -443,04 | -308,15 | -15.825,59 |
| Taxe d'abonnement	-40.136,23 | -3.058,53 | -2.101,14 | -21.580,42 |
| Veröffentlichungs- und Prüfungskosten	-327,13 | -24,61 | -17,99 | -911,55 |
| Satz-, Druck- und Versandkosten der Jahres- und Halbjahresberichte	-142,93 | -11,08 | -7,67 | -388,37 |
| Register- und Transferstellenvergütung	-1.002,65 | -74,78 | -53,69 | -2.705,69 |
| Staatliche Gebühren	-162,03 | -12,23 | -9,13 | -463,82 |
| Sonstige Aufwendungen 1)	-13.925,66 | -1.198,03 | -841,08 | -38.687,66 |
| Aufwandsausgleich	-66.693,82 | -3.195,44 | 11.792,69 | 68.504,26 |
| Aufwendungen insgesamt	-950.412,86 | -77.873,11 | -79.724,57 | -1.769.533,28 |
| Ordentlicher Nettoaufwand	-4.834,82 | -7.983,95 | -37.011,44 | 652.844,11 |
| Total Expense Ratio in Prozent 2)	1,08 | 1,08 | 2,03 | 0,83 |
| Performancevergütung in Prozent 2)	0,04 | 0,14 | 0,12 | 0,01 |
| Laufende Kosten in Prozent 2)	1,08 | 1,08 | 2,03 | 0,84 |

1) Die Position setzt sich im Wesentlichen zusammen aus Lagerstellengebühren und Rückstellungen für belgische Abonnementsteuer („Taxe annuelle sur les organismes de placement collectif“).
2) Siehe Erläuterungen zum Jahresbericht.
FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II

#### Vermögensaufstellung zum 30. September 2022
Zugänge
im
Abgänge
im
Kurswert
%-Anteil
vom
ISIN	Wertpapiere
| Cayman Inseln |  |
| --- | --- |
| KYG017191142 | Alibaba Group Holding Ltd. | HKD | 0 | 850.000 | 12.486.000 | 77,9500 | 126.974.338,57 | 1,03 |
| US01609W1027 | Alibaba Group Holding Ltd. ADR | USD | 150.000 | 539.400 | 158.850 | 79,0600 | 12.860.912,44 | 0,10 |
|  |  |  |  |  |  |  | 139.835.251,01 | 1,13 |
| Deutschland |  |  |  |  |  |  |  |  |
| DE0005190003 | Bayer. Motoren Werke AG | EUR | 2.099.000 | 80.000 | 3.391.000 | 69,1300 | 234.419.830,00 | 1,91 |
| DE0005190037 | Bayer. Motoren Werke AG -VZ- | EUR | 0 | 0 | 337.554 | 65,4000 | 22.076.031,60 | 0,18 |
| DE0005158703 | Bechtle AG | EUR | 850.000 | 0 | 2.200.000 | 35,4500 | 77.990.000,00 | 0,64 |
| US09075V1026 | BioNTech SE ADR | USD | 1.025.000 | 0 | 1.025.000 | 133,6000 | 140.235.535,07 | 1,14 |
| DE000A1DAHH0 | Brenntag SE | EUR | 235.000 | 30.000 | 1.030.000 | 61,0400 | 62.871.200,00 | 0,51 |
| DE0005810055 | Dte. Börse AG | EUR | 0 | 153.500 | 1.809.400 | 167,9000 | 303.798.260,00 | 2,47 |
| DE0007100000 | Mercedes-Benz Group AG | EUR | 5.642.183 | 0 | 5.642.183 | 52,4300 | 295.819.654,69 | 2,41 |
| DE0008303504 | TAG Immobilien AG | EUR | 826.736 | 263.482 | 2.763.254 | 7,7850 | 21.511.932,39 | 0,18 |
| DE0005089031 | United Internet AG | EUR | 0 | 1.814.386 | 1.295.014 | 19,0450 | 24.663.541,63 | 0,20 |
|  |  |  |  |  |  |  | 1.183.385.985,38 | 9,64 |
| Frankreich |  |  |  |  |  |  |  |  |
| FR0010307819 | Legrand S.A. | EUR | 315.000 | 75.000 | 2.550.000 | 64,9600 | 165.648.000,00 | 1,35 |
|  |  |  |  |  |  |  | 165.648.000,00 | 1,35 |
| Japan |  |  |  |  |  |  |  |  |
| JP3236200006 | Keyence Corporation | JPY | 82.900 | 0 | 82.900 | 47.900,0000 | 28.126.097,87 | 0,23 |
|  |  |  |  |  |  |  | 28.126.097,87 | 0,23 |
| Kanada |  |  |  |  |  |  |  |  |
| CA0084741085 | Agnico Eagle Mines Ltd. | USD | 2.313.253 | 763.253 | 2.500.000 | 41,4300 | 106.067.588,33 | 0,86 |
| CA0679011084 | Barrick Gold Corporation | USD | 3.220.000 | 3.211.876 | 17.008.124 | 15,1000 | 263.003.248,75 | 2,14 |
| CA21037X1006 | Constellation Software Inc. | CAD | 6.571 | 22.000 | 96.671 | 1.931,5000 | 139.436.962,51 | 1,14 |
|  |  |  |  |  |  |  | 508.507.799,59 | 4,14 |
| Luxemburg |  |  |  |  |  |  |  |  |
| LU1778762911 | SPOTIFY TECHNOLOGY S.A. | USD | 0 | 56.700 | 134.800 | 86,8400 | 11.987.743,98 | 0,10 |
|  |  |  |  |  |  |  | 11.987.743,98 | 0,10 |
| Schweiz |  |  |  |  |  |  |  |  |
| CH0038863350 | Nestlé S.A. | CHF | 0 | 875.000 | 3.900.000 | 106,5600 | 433.894.341,20 | 3,53 |
| CH0012032048 | Roche Holding AG Genussscheine | CHF | 0 | 327.000 | 391.000 | 320,2500 | 130.734.756,73 | 1,06 |
|  |  |  |  |  |  |  | 564.629.097,93 | 4,59 |
| Vereinigte Staaten von Amerika |  |  |  |  |  |  |  |
| US0028241000 Abbott Laboratories | USD | 426.000 | 120.000 | 1.951.000 | 98,2900 | 196.378.689,20 | 1,60 |
| US00507V1098 Activision Blizzard Inc. | USD | 1.047.464 | 0 | 1.047.464 | 74,8700 | 80.310.936,69 | 0,65 |
| US00724F1012 Adobe Inc. | USD | 568.300 | 111.800 | 538.000 | 278,2500 | 153.301.075,27 | 1,25 |
| US02079K3059 Alphabet Inc. | USD | 4.765.350 | 370.850 | 4.670.000 | 97,4200 | 465.900.051,20 | 3,79 |
| US0231351067 Amazon.com Inc. | USD | 3.167.700 | 1.049.580 | 2.210.000 | 114,8000 | 259.813.620,07 | 2,12 |
| US0311001004 AMETEK Inc. | USD | 248.406 | 10.400 | 518.006 | 113,2800 | 60.091.878,83 | 0,49 |
| US0320951017 Amphenol Corporation | USD | 460.607 | 85.000 | 2.790.607 | 67,9200 | 194.099.362,46 | 1,58 |
| US0378331005 Apple Inc. | USD | 275.000 | 822.000 | 1.170.000 | 142,4800 | 170.713.364,06 | 1,39 |

Aktien, Anrechte und Genussscheine Börsengehandelte Wertpapiere
Berichtszeitraum Berichtszeitraum	Bestand	Kurs
EUR
NTFV 1)
1) NTFV = Netto-Teilfondsvermögen. Aufgrund von Rundungsdifferenzen in den Einzelpositionen können die Summen vom tatsächlichen Wert abweichen.
FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II

#### Vermögensaufstellung zum 30. September 2022 
(Fortsetzung)
| ISIN | Wertpapiere | Zugänge im Berichtszeitraum | Abgänge im Berichtszeitraum | Bestand | Kurs | Kurswert EUR | %-Anteil vom NTFV 1) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| US0846707026 | Berkshire Hathaway Inc. | USD212.538 | 492.376 | 1.510.162 | 269,5800 | 416.906.781,32 | 3,39 |
| US09247X1019 | Blackrock Inc. | USD22.509 | 37.509 | 260.000 | 563,9200 | 150.147.670,25 | 1,22 |
| US8085131055 | Charles Schwab Corporation | USD1.522.000 | 37.000 | 2.580.000 | 72,6400 | 191.921.351,77 | 1,56 |
| US2358511028 | Danaher Corporation | USD522.000 | 59.000 | 463.000 | 262,1500 | 124.296.415,77 | 1,01 |
| US2561631068 | DocuSign Inc. | USD1.940.000 | 0 | 1.940.000 | 55,2000 | 109.665.130,57 | 0,89 |
| US29786A1060 | Etsy Inc. | USD482.023 | 346.523 | 845.000 | 101,5200 | 87.848.847,93 | 0,72 |
| US34959J1088 | Fortive Corporation | USD1.322.381 | 185.317 | 3.713.683 | 59,2100 | 225.178.873,97 | 1,83 |
| US4523081093 | Illinois Tool Works Inc. | USD0 | 47.984 | 992.016 | 183,8800 | 186.801.743,04 | 1,52 |
| US45866F1049 | Intercontinental Exchange Inc. | USD1.008.000 | 28.000 | 1.805.000 | 90,7500 | 167.745.775,73 | 1,37 |
| US4781601046 | Johnson & Johnson | USD230.000 | 1.160.731 | 1.181.000 | 164,5300 | 198.986.103,43 | 1,62 |
| US57636Q1040 | Mastercard Inc. | USD132.500 | 86.500 | 465.000 | 286,7700 | 136.557.142,86 | 1,11 |
| US57667L1070 | Match Group Inc. | USD2.073.000 | 0 | 2.073.000 | 48,2500 | 102.429.339,48 | 0,83 |
| US30303M1027 | Meta Platforms Inc. | USD615.500 | 173.828 | 1.661.672 | 136,4100 | 232.123.581,69 | 1,89 |
| US5949181045 | Microsoft Corporation | USD102.000 | 132.000 | 1.146.000 | 237,5000 | 278.725.038,40 | 2,27 |
| US6153691059 | Moody's Corporation | USD265.955 | 10.000 | 561.955 | 246,5600 | 141.890.040,76 | 1,16 |
| US6516391066 | Newmont Corporation | USD2.360.000 | 1.760.000 | 5.890.000 | 41,7600 | 251.885.714,29 | 2,05 |
| US7134481081 | PepsiCo Inc. | USD0 | 890.000 | 1.045.000 | 166,6100 | 178.297.439,84 | 1,45 |
| US72352L1061 | Pinterest Inc. | USD2.851.014 | 1.757.629 | 8.700.000 | 23,1900 | 206.608.294,93 | 1,68 |
| US7766961061 | Roper Technologies Inc. | USD139.339 | 8.000 | 324.339 | 366,7500 | 121.813.956,22 | 0,99 |
| US79466L3024 | Salesforce Inc. | USD281.063 | 23.000 | 918.063 | 146,8100 | 138.024.402,49 | 1,12 |
| US83304A1060 | Snap Inc. | USD3.284.000 | 825.000 | 2.459.000 | 10,1900 | 25.660.225,29 | 0,21 |
| US7427181091 | The Procter & Gamble Co. | USD0 | 688.000 | 1.562.000 | 128,7000 | 205.867.281,11 | 1,68 |
| US8835561023 | Thermo Fisher Scientific Inc. | USD100.350 | 5.600 | 258.745 | 516,6100 | 136.887.101,33 | 1,11 |
| US8982021060 | Trupanion Inc. | USD603.252 | 0 | 603.252 | 60,7900 | 37.554.213,09 | 0,31 |
| US90138F1021 | Twilio Inc. | USD1.350.000 | 0 | 1.350.000 | 70,5900 | 97.589.861,75 | 0,79 |
| US90353T1007 | Uber Technologies Inc. | USD0 | 2.795.500 | 1.039.601 | 26,4200 | 28.127.248,77 | 0,23 |
| US92345Y1064 | Verisk Analytics Inc. | USD0 | 85.000 | 570.000 | 173,5500 | 101.304.147,47 | 0,82 |
| US92826C8394 | VISA Inc. | USD152.000 | 105.500 | 775.000 | 180,0600 | 142.904.761,90 | 1,16 |
| US88579Y1010 | 3M Co. | USD179.349 | 134.000 | 2.515.349 | 112,3000 | 289.271.574,71 | 2,36 |
|  |  |  |  |  |  | 6.293.629.037,94 | 51,22 |
| Vereinigtes Königreich |  |  |  |  |  |  |  |
| GB00B24CGK77 Reckitt Benckiser Group Plc. | GBP0 | 2.024.000 | 2.926.000 | 61,2400 | 202.518.354,43 | 1,65 |  |
| GB00B10RZP78 Unilever Plc. | EUR26.198 | 3.356.198 | 4.870.000 | 45,9200 | 223.630.400,00 | 1,82 |  |
|  |  |  |  |  | 426.148.754,43 | 3,47 |  |
| Börsengehandelte Wertpapiere |  |  |  |  | 9.321.897.768,13 | 75,87 |  |
| Aktien, Anrechte und Genussscheine |  |  |  |  | 9.321.897.768,13 | 75,87 |  |
| Anleihen |  |  |  |  |  |  |  |
| Börsengehandelte Wertpapiere |  |  |  |  |  |  |  |
| EUR |  |  |  |  |  |  |  |  |  |
| XS1629774230 | 3,875% | Volkswagen International Finance NV- Reg.S. Fix-to-Float Perp. | 70.400.000 | 0 | 70.400.000 | 85,5000 | 60.192.000,00 | 0,49 |  |
| XS2342732562 | 3,748% | Volkswagen International Finance NV- Reg.S. Fix-to-Float Perp. | 52.000.000 | 0 | 52.000.000 | 84,4640 | 43.921.280,00 | 0,36 |  |
| XS2187689380 | 3,875% | Volkswagen International Finance NV- Reg.S. Fix-to-Float Perp. | 67.000.000 | 0 | 67.000.000 | 81,0000 | 54.270.000,00 | 0,44 |  |

1) NTFV = Netto-Teilfondsvermögen. Aufgrund von Rundungsdifferenzen in den Einzelpositionen können die Summen vom tatsächlichen Wert abweichen.
FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II

#### Vermögensaufstellung zum 30. September 2022 
(Fortsetzung)
| ISIN | Wertpapiere | Zugänge im Berichtszeitraum | Abgänge im Berichtszeitraum | Bestand | Kurs | Kurswert EUR | %-Anteil vom NTFV 1) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| XS1799939027 | 4,625% | Volkswagen International Finance | 42.000.000 | 0 | 42.000.000 | 87,0000 | 36.540.000,00 | 0,30 |  |
|  |  | NV- Reg.S. Fix-to-Float Perp. |  |  |  |  |  |  |  |
| XS2342732646 | 4,375% | Volkswagen International Finance | 65.000.000 | 0 | 65.000.000 | 78,0000 | 50.700.000,00 | 0,41 |  |
|  |  | NV- Reg.S. Fix-to-Float Perp. |  |  |  |  |  |  |  |
| XS2010039894 | 3,000% | ZF Europe Finance BV v.19(2029) | 1.800.000 | 0 | 1.800.000 | 71,1860 | 1.281.348,00 | 0,01 |  |
| XS2399851901 | 2,250% | ZF Finance GmbH EMTN Reg.S. | 8.500.000 | 0 | 8.500.000 | 73,0000 | 6.205.000,00 | 0,05 |  |
|  |  | Green Bond v.21(2028) |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | 253.109.628,00 | 2,06 |  |
| USD |  |  |  |  |  |  |  |  |  |
| US91282CEJ62 | 0,125% | Vereinigte Staaten von Amerika ILB v.22(2027) 2) | 102.000.000 | 0 | 102.000.000 | 92,5313 | 101.417.263,31 | 0,83 |  |
| US91282CEZ05 | 0,625% | Vereinigte Staatenvon Amerika ILB v.22(2032) 3) | 77.000.000 | 0 | 77.000.000 | 91,1758 | 73.309.053,38 | 0,60 |  |
|  |  |  |  |  |  |  | 174.726.316,69 | 1,43 |  |

Börsengehandelte Wertpapiere	427.835.944,69	3,49
An organisierten Märkten zugelassene oder in diese einbezogene Wertpapiere EUR
XS2114413565  2,875% AT & T Inc. Fix-to-Float Perp.	15.600.000	0 15.600.000	88,2600	13.768.560,00	0,11
| 13.768.560,00 | 0,11 |
| --- | --- |
| An organisierten Märkten zugelassene oder in diese einbezogene Wertpapiere | 13.768.560,00 | 0,11 |
| Anleihen | 441.604.504,69 | 3,60 |
| Wandelanleihen |  |  |
| An organisierten Märkten zugelassene oder in diese einbezogene Wertpapiere |  |  |

EUR
DE000A3E46Y9 0,625% TAG Immobilien AG/TAG
Immobilien AG Reg.S. CV v.20 (2026)
17.300.000	0 17.300.000	73,9590	12.794.907,00	0,10
12.794.907,00	0,10
USD
US83304AAG13 0,125% Snap Inc./Snap Inc. CV v.22
(2028)
50.000.000	0 50.000.000	67,7510	34.690.732,21	0,28
| 34.690.732,21 | 0,28 |
| --- | --- |
| An organisierten Märkten zugelassene oder in diese einbezogene Wertpapiere | 47.485.639,21 | 0,38 |
| Wandelanleihen | 47.485.639,21 | 0,38 |

1) NTFV = Netto-Teilfondsvermögen. Aufgrund von Rundungsdifferenzen in den Einzelpositionen können die Summen vom tatsächlichen Wert abweichen.
2) Bei diesem Wertpapier handelt es sich um eine inflationsindexierte Anleihe mit einem Inflationsfaktor von 1,0493.
3) Bei diesem Wertpapier handelt es sich um eine inflationsindexierte Anleihe mit einem Inflationsfaktor von 1,0197.
FLOSSBACH VON STORCH – MULTIPLE OPPORTUNITIES II

#### Vermögensaufstellung zum 30. September 2022 
(Fortsetzung)
| ISIN | Wertpapiere | Zugänge im Berichtszeitraum | Abgänge im Berichtszeitraum | Bestand | Kurs | Kurswert EUR | %-Anteil vom NTFV 1) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Zertifikate |  |  |  |  |  |  |  |
| Börsengehandelte Wertpapiere Irland |
| IE00B579F325 | Invesco Physical Markets Plc./Gold | USD | 0 | 1.768.954 | 7.191.046 | 160,1300 | 1.179.213.718,36 | 9,60 |  |
| Unze Zert. v.09(2100) |  |  |  |  |  |  |  |
|  |  |  |  |  | 1.179.213.718,36 | 9,60 |  |
| Börsengehandelte Wertpapiere |  |  |  |  | 1.179.213.718,36 | 9,60 |  |
| Zertifikate |  |  |  |  | 1.179.213.718,36 | 9,60 |  |
| Wertpapiervermögen |  |  |  |  | 10.990.201.630,39 | 89,45 |  |
| Bankguthaben - Kontokorrent 2) |  |  |  |  | 1.371.454.759,46 | 11,17 |  |
| Saldo aus sonstigen Forderungen und Verbindlichkeiten |  |  |  |  | -80.387.979,65 | -0,62 |  |
| Netto-Teilfondsvermögen in EUR |  |  |  |  | 12.281.268.410,20 | 100,00 |  |


#### Devisentermingeschäfte
Zum 30. September 2022 standen folgende offene Devisentermingeschäfte aus:
%-Anteil
| Währung | Kontrahent |  | Währungsbetrag | Kurswert EUR | vom NTFV 1) |
| --- | --- | --- | --- | --- | --- |
| CHF/EUR | DZ PRIVATBANK S.A. | Währungskäufe | 199.800.000,00 | 208.823.471,00 | 1,70 |
| USD/EUR | DZ PRIVATBANK S.A. | Währungskäufe | 87.130.000,00 | 88.916.056,84 | 0,72 |
| EUR/JPY | J.P. Morgan SE | Währungsverkäufe | 3.500.000.000,00 | 24.804.392,91 | 0,20 |
| EUR/USD | DZ PRIVATBANK S.A. | Währungsverkäufe | 1.040.000.000,00 | 1.061.883.290,86 | 8,65 |
| EUR/USD | J.P. Morgan SE | Währungsverkäufe | 770.000.000,00 | 783.707.833,72 | 6,38 |


#### Devisenkurse
Für die Bewertung von Vermögenswerten in fremder Währung wurde zum nachstehenden Devisenkurs zum 30. September 2022 in Euro umgerechnet.
| Britisches Pfund | GBP | 1 | 0,8848 |
| --- | --- | --- | --- |
| Dänische Krone | DKK | 1 | 7,4361 |
| Hongkong Dollar | HKD | 1 | 7,6652 |
| Japanischer Yen | JPY | 1 | 141,1824 |
| Kanadischer Dollar | CAD | 1 | 1,3391 |
| Schweizer Franken | CHF | 1 | 0,9578 |
| US-Dollar | USD | 1 | 0,9765 |

1) NTFV = Netto-Teilfondsvermögen. Aufgrund von Rundungsdifferenzen in den Einzelpositionen können die Summen vom tatsächlichen Wert abweichen.
2) Siehe Erläuterungen zum Jahresbericht.