# DWS Invest CROCI World
DWS INVEST CROCI WORLD

### Performance of share classes vs. benchmark (in euro)
| Share class | ISIN | 6 months |
| --- | --- | --- |
| Class LC | LU1769941003 | -7.7% |
| Class IC | LU1769940708 | -7.3% |
| Class ID | LU1769940880 | -10.8% 2 |
| Class TFC | LU1902608444 | -7.1% |
| Class USD IC 1 | LU1769941185 | -7.3% |
| Class USD LC 1 | LU1769941268 | -7.5% |
| MSCI World |  | -5.8% |

1 
in USD
2 
Last share price calculation on May 22, 2020
“BVI method” performance, i.e., excluding the initial sales charge.
Past performance is no guide to future results.	As of: June 30, 2020
The format used for complete dates
in security names in the investment
portfolio is “day/month/year”.
DWS Invest CROCI World
| Statement of net assets as of June 30, 2020 |  |
| --- | --- |
|  | Amount in EUR | % of net assets |
| I. Assets |  |  |
| 1. Equities (sectors): Information Technology | 3 585 504.27 | 14.37 |
| Telecommunication Services | 2 214 487.31 | 8.88 |
| Consumer Discretionaries | 7 225 981.83 | 28.99 |
| Energy | 1 438 601.91 | 5.76 |
| Consumer Staples | 4 976 161.68 | 19.96 |
| Basic Materials | 1 978 104.38 | 7.93 |
| Industrials | 2 710 046.48 | 10.88 |
| Utilities | 730 172.92 | 2.93 |
| Total equities | 24 859 060.78 | 99.70 |
| 2. Cash at bank | 12 705.16 | 0.05 |
| 3. Other assets | 174 486.81 | 0.70 |
| 4. Receivables from share certificate transactions | 2 199.43 | 0.01 |
| II. Liabilities |  |  |
| 1. Loan liabilities | -29 697.57 | - 0.12 |
| 2. Other liabilities | -83 634.73 | - 0.34 |
| 3. Liabilities from share certificate transactions | -201.96 | 0.00 |
| III. Net assets | 24 934 917.92 | 100.00 |
| Negligible rounding errors may have arisen due to the rounding of calculated percentages. |  |  |

| Investment portfolio – June 30, 2020 |  |
| --- | --- |
|  | Count/ | Quantity/ | Purchases/ | Sales/ | Currency | Market price | Total market | % of |
| Security name | units/ currency | principal amount | additions in the | disposals reporting period |  |  | value in EUR | net assets |
| Securities traded on an exchange |  |  |  |  |  |  | 24 859 060.78 | 99.70 |
| Equities BHP Billiton Ltd ....................................  | Count | 11 430 | 2 595 | 5 398 | AUD | 35.82 | 250 859.34 | 1.01 |
| Brambles Ltd ......................................  | Count | 35 779 | 36 812 | 1 033 | AUD | 10.87 | 238 295.70 | 0.96 |
| Magna International, Inc..............................  | Count | 6 395 | 1 853 | 2 475 | CAD | 59.45 | 248 123.37 | 1.00 |
| TC Energy Corp. ...................................  | Count | 6 468 | 1 032 | 2 052 | CAD | 57.32 | 241 964.39 | 0.97 |
| Holcim Ltd ........................................  | Count | 6 449 | 1 738 | 2 550 | CHF | 41.26 | 249 900.18 | 1.00 |
| Roche Holding AG ..................................  | Count | 800 | 822 | 1 290 | CHF | 327.65 | 246 175.67 | 0.99 |
| Bayer AG .........................................  | Count | 3 671 | 362 | 1 710 | EUR | 65.79 | 241 515.09 | 0.97 |
| Cie Générale des Etablissements Michelin SCA. . . . . . . . . . . | Count | 2 774 | 449 | 798 | EUR | 91.6 | 254 098.40 | 1.02 |
| Henkel AG & Co., KgaA -Pref-.........................  | Count | 3 108 | 291 | 1 049 | EUR | 83.14 | 258 399.12 | 1.04 |
| Kering SA.........................................  | Count | 501 | 635 | 134 | EUR | 479.55 | 240 254.55 | 0.96 |
| Koninklijke Ahold Delhaize NV.........................  | Count | 10 680 | 10 820 | 140 | EUR | 24.35 | 260 058.00 | 1.04 |
| Merck KGaA ......................................  | Count | 2 463 | 2 483 | 3 393 | EUR | 102.75 | 253 073.25 | 1.02 |
| Ryanair Holdings PLC ...............................  | Count | 22 981 | 4 808 | 6 458 | EUR | 10.62 | 244 058.22 | 0.98 |
| Sanofi ..........................................  | Count | 2 712 | 392 | 1 604 | EUR | 90.36 | 245 056.32 | 0.98 |
| UCB SA ..........................................  | Count | 2 390 | 3 869 | 1 479 | EUR | 102.85 | 245 811.50 | 0.99 |
| Anglo American PLC ................................  | Count | 12 544 | 4 436 | 5 528 | GBP | 18.522 | 254 988.46 | 1.02 |
| British American Tobacco PLC ........................  | Count | 7 244 | 7 288 | 9 381 | GBP | 31.085 | 247 130.26 | 0.99 |
| Ferguson PLC .....................................  | Count | 3 461 | 573 | 1 391 | GBP | 65.9 | 250 313.12 | 1.00 |
| GlaxoSmithKline PLC................................  | Count | 13 662 | 13 980 | 318 | GBP | 16.304 | 244 458.45 | 0.98 |
| Imperial Brands PLC ................................  | Count | 14 965 | 2 300 | 4 174 | GBP | 15.475 | 254 158.12 | 1.02 |
| Rio Tinto PLC......................................  | Count | 4 947 | 305 | 2 063 | GBP | 45.135 | 245 048.46 | 0.98 |
| WPP PLC.........................................  | Count | 35 474 | 35 803 | 329 | GBP | 6.17 | 240 210.47 | 0.96 |
| CLP Holdings Ltd...................................  | Count | 28 519 | 8 391 | 16 990 | HKD | 76 | 249 527.26 | 1.00 |
| Bridgestone Corp. ..................................  | Count | 8 573 | 1 000 | 2 500 | JPY | 3 469 | 246 372.76 | 0.99 |
| Central Japan Railway Co.............................  | Count | 1 700 | 277 | 537 | JPY | 16 690 | 235 050.30 | 0.94 |
| Komatsu Ltd ......................................  | Count | 13 749 | 3 700 | 5 800 | JPY | 2 203.5 | 250 980.35 | 1.01 |
| Sekisui House Ltd ..................................  | Count | 14 700 | 14 800 | 100 | JPY | 2 052.5 | 249 951.68 | 1.00 |
| Shin-Etsu Chemical Co., Ltd ..........................  | Count | 2 456 | 96 | 1 144 | JPY | 12 595 | 256 260.75 | 1.03 |
| Subaru Corp. ......................................  | Count | 12 518 | 1 400 | 4 200 | JPY | 2 241.5 | 232 449.84 | 0.93 |
| Tokyo Electron Ltd .................................  | Count | 1 328 | 1 328 |  | JPY | 26 440 | 290 880.82 | 1.17 |
| Toyota Motor Corp. .................................  | Count | 4 400 | 4 400 | 5 499 | JPY | 6 762 | 246 480.97 | 0.99 |
| Telefonaktiebolaget LM Ericsson ......................  | Count | 30 766 | 31 157 | 391 | SEK | 85.4 | 250 797.11 | 1.01 |
| Volvo AB .........................................  | Count | 18 070 | 1 707 | 8 064 | SEK | 144.5 | 249 241.08 | 1.00 |
| Singapore Telecommunications Ltd ....................  | Count | 153 990 | 159 990 | 6 000 | SGD | 2.46 | 242 086.97 | 0.97 |
| AbbVie, Inc. .......................................  | Count | 2 979 | 1 386 | 2 786 | USD | 96.07 | 255 358.15 | 1.02 |
| Alexion Pharmaceuticals, Inc. .........................  | Count | 2 469 | 73 | 1 167 | USD | 111.8 | 246 294.28 | 0.99 |
| Altria Group, Inc. ...................................  | Count | 6 960 | 1 679 | 2 427 | USD | 39.01 | 242 257.16 | 0.97 |
| Amgen, Inc. .......................................  | Count | 1 260 | 249 | 603 | USD | 232.42 | 261 297.63 | 1.05 |
| Applied Materials, Inc................................  | Count | 4 754 | 71 | 1 806 | USD | 60.21 | 255 399.02 | 1.02 |
| Aptiv PLC.........................................  | Count | 3 740 | 1 720 | 2 097 | USD | 75.3 | 251 280.05 | 1.01 |
| AT&T, Inc. ........................................  | Count | 9 427 | 9 427 | 10 157 | USD | 29.74 | 250 153.10 | 1.00 |
| AutoZone, Inc. .....................................  | Count | 249 | 253 | 4 | USD | 1 117.37 | 248 249.15 | 1.00 |
| Best Buy Co., Inc. ..................................  | Count | 3 427 | 4 548 | 1 121 | USD | 86.77 | 265 323.14 | 1.06 |
| Biogen Idec, Inc. ...................................  | Count | 1 012 | 315 | 621 | USD | 260.97 | 235 647.33 | 0.95 |
| Bristol-Myers Squibb Co..............................  | Count | 5 009 | 1 209 | 2 291 | USD | 57.68 | 257 790.97 | 1.03 |
| Broadcom, Inc. ....................................  | Count | 910 | 199 | 498 | USD | 313.16 | 254 272.33 | 1.02 |
| Caterpillar, Inc......................................  | Count | 2 220 | 213 | 675 | USD | 124.36 | 246 334.43 | 0.99 |
| CH Robinson Worldwide, Inc. .........................  | Count | 3 622 | 336 | 1 779 | USD | 78.3 | 253 047.26 | 1.02 |
| Cisco Systems, Inc..................................  | Count | 6 148 | 218 | 2 519 | USD | 46.69 | 256 123.34 | 1.03 |
| Cognizant Technology Solutions Corp. ..................  | Count | 5 129 | 915 | 2 140 | USD | 57.24 | 261 953.22 | 1.05 |
| Comcast Corp......................................  | Count | 7 216 | 1 675 | 3 483 | USD | 38.15 | 245 630.61 | 0.99 |
| Constellation Brands, Inc. ............................  | Count | 1 596 | 1 628 | 2 162 | USD | 173.52 | 247 100.63 | 0.99 |
| Cummins, Inc. .....................................  | Count | 1 669 | 128 | 610 | USD | 171.01 | 254 665.00 | 1.02 |
| DaVita, Inc. .......................................  | Count | 3 613 | 3 613 |  | USD | 77.48 | 249 775.02 | 1.00 |
| Dupont De Nemours, Inc. ............................  | Count | 5 384 | 7 561 | 2 177 | USD | 52.1 | 250 284.64 | 1.00 |
| Eastman Chemical Co. ..............................  | Count | 4 022 | 4 022 |  | USD | 67.91 | 243 706.56 | 0.98 |
| Eli Lilly & Co. ......................................  | Count | 1 787 | 1 787 | 3 125 | USD | 162.92 | 259 770.83 | 1.04 |
| Emerson Electric Co.................................  | Count | 4 557 | 5 787 | 1 230 | USD | 61.05 | 248 231.06 | 1.00 |
| Facebook, Inc. .....................................  | Count | 1 207 | 49 | 825 | USD | 220.1 | 237 038.42 | 0.95 |
| Fox Corp. .........................................  | Count | 10 063 | 2 062 | 2 624 | USD | 26.78 | 240 452.60 | 0.96 |
| Garmin Ltd........................................  | Count | 2 972 | 3 798 | 826 | USD | 96.29 | 255 341.51 | 1.02 |
| Gilead Sciences, Inc. ................................  | Count | 3 844 | 1 011 | 3 095 | USD | 75.61 | 259 330.77 | 1.04 |
| Hasbro, Inc. .......................................  | Count | 3 708 | 3 708 |  | USD | 72.68 | 240 461.79 | 0.96 |
| Hewlett Packard Enterprise Co. .......................  | Count | 28 411 | 11 092 | 7 241 | USD | 9.55 | 242 092.49 | 0.97 |
| HP, Inc. ..........................................  | Count | 16 959 | 2 245 | 4 454 | USD | 17.05 | 257 997.83 | 1.03 |
| Intel Corp. ........................................  | Count | 4 704 | 496 | 2 591 | USD | 59.615 | 250 215.54 | 1.00 |
| International Business Machines Corp...................  | Count | 2 295 | 319 | 950 | USD | 119.51 | 244 725.01 | 0.98 |
| JM Smucker Co./The................................  | Count | 2 616 | 846 | 2 053 | USD | 105.39 | 245 996.30 | 0.99 |
| Johnson Controls International PLC ....................  | Count | 8 092 | 765 | 2 262 | USD | 33.71 | 243 391.86 | 0.98 |
| Kinder Morgan, Inc. .................................  | Count | 18 065 | 18 065 |  | USD | 14.61 | 235 493.87 | 0.94 |
| KLA-Tencor Corp. ..................................  | Count | 1 471 | 68 | 850 | USD | 194.53 | 255 323.44 | 1.02 |
| Lam Research Corp. ................................  | Count | 909 | 14 | 467 | USD | 322.86 | 261 860.23 | 1.05 |
| Leidos Holdings, Inc. ................................  | Count | 2 851 | 2 851 | 4 293 | USD | 92.76 | 235 965.97 | 0.95 |
| Lockheed Martin Corp. ..............................  | Count | 745 | 80 | 348 | USD | 363.91 | 241 903.24 | 0.97 |
| LyondellBasell Industries NV..........................  | Count | 4 268 | 2 634 | 2 544 | USD | 63.82 | 243 037.13 | 0.97 |
| Marathon Petroleum Corp. ...........................  | Count | 7 682 | 7 565 | 6 287 | USD | 34.95 | 239 559.23 | 0.96 |
| Masco Corp. ......................................  | Count | 5 896 | 193 | 2 569 | USD | 49.08 | 258 198.34 | 1.04 |

| DWS Invest CROCI World |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  | Count/ | Quantity/ | Purchases/ | Sales/ | Currency | Market price | Total market | % of |
| Security name | units/ currency | principal amount | additions in the | disposals reporting period |  |  | value in EUR | net assets |
| McKesson Corp. ...................................  | Count | 1 842 | 336 | 1 335 | USD | 150.39 | 247 172.42 | 0.99 |
| Merck & Co., Inc. ..................................  | Count | 3 739 | 962 | 1 625 | USD | 76.39 | 254 849.27 | 1.02 |
| Mylan NV.........................................  | Count | 17 734 | 4 120 | 7 288 | USD | 15.71 | 248 584.65 | 1.00 |
| NetApp, Inc. ......................................  | Count | 6 608 | 7 884 | 1 276 | USD | 44.39 | 261 725.84 | 1.05 |
| Nucor Corp. .......................................  | Count | 6 478 | 2 276 | 2 690 | USD | 40.47 | 233 919.04 | 0.94 |
| ONEOK, Inc. ......................................  | Count | 7 886 | 13 159 | 5 273 | USD | 31.66 | 222 771.23 | 0.89 |
| Oracle Corp. ......................................  | Count | 5 537 | 1 048 | 2 879 | USD | 55.07 | 272 070.23 | 1.09 |
| PACCAR, Inc. .....................................  | Count | 3 833 | 444 | 1 361 | USD | 73.5 | 251 372.39 | 1.01 |
| Pfizer, Inc. ........................................  | Count | 8 500 | 2 075 | 3 648 | USD | 32.29 | 244 894.14 | 0.98 |
| Philip Morris International, Inc. ........................  | Count | 3 832 | 3 832 | 4 625 | USD | 69.9 | 238 997.91 | 0.96 |
| Pioneer Natural Resources Co. ........................  | Count | 3 027 | 2 233 | 1 918 | USD | 94.33 | 254 773.16 | 1.02 |
| PPL Corp. ........................................  | Count | 10 628 | 2 426 | 2 703 | USD | 25.5 | 241 814.95 | 0.97 |
| Raytheon Technologies Corp. .........................  | Count | 4 235 | 4 236 |  | USD | 60.25 | 227 667.95 | 0.91 |
| Regeneron Pharmaceuticals, Inc. ......................  | Count | 473 | 54 | 642 | USD | 616.92 | 260 364.29 | 1.04 |
| Sempra Energy ....................................  | Count | 2 297 | 2 297 |  | USD | 116.53 | 238 830.71 | 0.96 |
| SS&C Technologies Holdings, Inc. .....................  | Count | 4 932 | 4 932 |  | USD | 54.77 | 241 022.30 | 0.97 |
| Target Corp........................................  | Count | 2 407 | 2 422 | 15 | USD | 119.03 | 255 637.14 | 1.03 |
| Tractor Supply Co. ..................................  | Count | 2 286 | 3 883 | 1 597 | USD | 132.5 | 270 261.09 | 1.08 |
| Tyson Foods, Inc. ..................................  | Count | 4 490 | 1 550 | 1 401 | USD | 59 | 236 368.60 | 0.95 |
| Ulta Salon Cosmetics & Fragrance, Inc. .................  | Count | 1 275 | 326 | 600 | USD | 197.25 | 224 397.81 | 0.90 |
| ViacomCBS, Inc. ...................................  | Count | 12 242 | 12 367 | 9 892 | USD | 23.07 | 251 994.69 | 1.01 |
| Walgreens Boots Alliance, Inc. ........................  | Count | 6 767 | 2 599 | 2 697 | USD | 41.93 | 253 170.13 | 1.02 |
| Williams Cos, Inc./The...............................  | Count | 15 061 | 15 061 |  | USD | 18.16 | 244 040.03 | 0.98 |
| Total securities portfolio |  |  |  |  |  |  | 24 859 060.78 | 99.70 |
| Cash at bank |  |  |  |  |  |  | 12 705.16 | 0.05 |
| Deposits in other EU/EEA currencies |  |  |  |  |  |  |  |  |
| British pound .....................................  | GBP | 3 951 |  |  |  |  | 4 335.97 | 0.03 |
| Danish krone ......................................  | DKK | 7 |  |  |  |  | 0.96 | 0.00 |
| Norwegian krone ...................................  | NOK | 9 685 |  |  |  |  | 890.13 | 0.00 |
| Swedish krona.....................................  | SEK | 598 |  |  |  |  | 57.08 | 0.00 |
| Deposits in non-EU/EEA currencies |  |  |  |  |  |  |  |  |
| Australian dollar ....................................         | AUD | 2 625 |  |  |  |  | 1 608.15 | 0.01 |
| Hong Kong dollar ..................................  | HKD | 133 |  |  |  |  | 15.26 | 0.00 |
| Japanese yen .....................................  | JPY | 99 999 |  |  |  |  | 828.42 | 0.00 |
| Canadian dollar ....................................  | CAD | 343 |  |  |  |  | 223.76 | 0.00 |
| Swiss franc .......................................  | CHF | 36 |  |  |  |  | 34.12 | 0.00 |
| Singapore dollar ...................................  | SGD | 1 561 |  |  |  |  | 997.55 | 0.00 |
| U.S. dollar ........................................  | USD | 4 162 |  |  |  |  | 3 713.76 | 0.01 |
| Other assets |  |  |  |  |  |  | 174 486.81 | 0.70 |
| Dividends/Distributions receivable .....................  |  |  |  |  |  |  | 35 541.90 | 0.14 |
| Receivables from exceeding the expense cap ............  |  |  |  |  |  |  | 138 944.91 | 0.56 |
| Receivables from share certificate transactions |  |  |  |  |  |  | 2 199.43 | 0.01 |
| Total assets |  |  |  |  |  |  | 25 048 452.18 | 100.46 |
| Short-term liabilities |  |  |  |  |  |  | -29 697.57 | -0.12 |
| EUR loans ........................................  | EUR |  |  |  |  |  | -29 697.57 | -0.12 |
| Other liabilities |  |  |  |  |  |  | -83 634.73 | -0.34 |
| Liabilities from cost items ............................  |  |  |  |  |  |  | -83 634.73 | -0.34 |
| Liabilities from share certificate transactions |  |  |  |  |  |  | -201.96 | 0.00 |
| Total liabilities |  |  |  |  |  |  | -113 534.26 | -0.46 |
| Net assets |  |  |  |  |  |  | 24 934 917.92 | 100.00 |

Negligible rounding errors may have arisen due to the rounding of calculated percentages.
A list of the transactions completed during the reporting period that no longer appear in the investment portfolio is available free of charge from the Management Company upon request.
| Net asset value per share and number of shares outstanding | Count/ currency | Net asset value per share in the respective currency |
| --- | --- | --- |
| Net asset value per share Class IC ..........................................  | EUR | 24 495.08 |
| Class LC .........................................  | EUR | 204.22 |
| Class TFC ........................................  | EUR | 112.69 |
| Class USD IC ......................................  | USD | 17 747.84 |
| Class USD LC .....................................  | USD | 165.60 |
| Number of shares outstanding Class IC ..........................................  | Count | 444.873 |
| Class LC .........................................  | Count | 45 741.080 |
| Class TFC ........................................  | Count | 101.000 |
| Class USD IC ......................................  | Count | 177.380 |
| Class USD LC .....................................  | Count | 12 696.320 |

Composition of the reference portfolio (according to CSSF circular 11/512) MSCI World Index in EUR
Market risk exposure (value-at-risk) (according to CSSF circular 11/512)
| Lowest market risk exposure .........................  | % | 93.802 |
| --- | --- | --- |
| Highest market risk exposure .........................  | % | 122.654 |
| Average market risk exposure ........................  | % | 114.283 |

The values-at-risk were calculated for the period from January 1, 2020, through June 30, 2020, using historical simulation with a 99% confidence level, a 10-day holding period and an effective historical observation period of one year. The risk in a reference portfolio that does not contain derivatives is used as the measurement benchmark. Market risk is the risk to the fund’s assets arising from an unfavorable change in market prices. The Company determines the potential market risk by means of the relative value-at-risk approachas defined in CSSF circular 11/512.
In the reporting period, the average leverage effect from the use of derivatives was 0.0, whereby the total of the nominal amounts of the derivatives in relation to the fund’s assets was used for the calculation (sum-of-notional approach).
The gross exposure generated via derivatives pursuant to point 40 a) of the “Guidelines on ETFs and other UCITS issues” of the European Securities and Markets Authority (ESMA) totaled EUR 0.00 as of the reporting date.
 Exchange rates (indirect quotes)	
As of June 30, 2020
| Australian dollar ................. . | AUD | 1.632080 | = | EUR | 1 |
| --- | --- | --- | --- | --- | --- |
| Canadian dollar ................. . | CAD | 1.532233 | = | EUR | 1 |
| Swiss franc .................... . | CHF | 1.064768 | = | EUR | 1 |
| Danish krone ................... . | DKK | 7.452704 | = | EUR | 1 |
| British pound .................. . | GBP | 0.911178 | = | EUR | 1 |
| Hong Kong dollar ............... . | HKD | 8.686201 | = | EUR | 1 |
| Japanese yen .................. . | JPY | 120.710331 | = | EUR | 1 |
| Norwegian krone ................ . | NOK | 10.880517 | = | EUR | 1 |
| Swedish krona.................. . | SEK | 10.476263 | = | EUR | 1 |
| Singapore dollar ................ . | SGD | 1.564791 | = | EUR | 1 |
| U.S. dollar ..................... . | USD | 1.120750 | = | EUR | 1 |

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

Translation (ENDE, 2020-06-30):
# DWS Invest CROCI World
DWS INVEST CROCI WORLD

### Wertentwicklung der Anteilklassen vs. Vergleichsindex (in EUR)
| Anteilklasse | ISIN | 6 Monate |
| --- | --- | --- |
| Klasse LC | LU1769941003 | -7,7% |
| Klasse IC | LU1769940708 | -7,3% |
| Klasse ID | LU1769940880 | -10,8% 2) |
| Klasse TFC | LU1902608444 | -7,1% |
| Klasse USD IC 1) | LU1769941185 | -7,3% |
| Klasse USD LC 1) | LU1769941268 | -7,5% |
| MSCI World |  | -5,8% |

1) 
in USD
2) 
Letzte Anteilpreisberechnung am 22.5.2020
Wertentwicklung nach BVI-Methode, d. h. ohne Berücksichtigung des Ausgabeaufschlages.
Wertentwicklungen der Vergangenheit ermöglichen keine Prognose für die Zukunft.	Stand: 30.6.2020
DWS Invest CROCI World
| Vermögensübersicht zum 30.6.2020 |  |
| --- | --- |
|  | Bestand in EUR | %-Anteil am Fondsvermögen |
| I. Vermögensgegenstände |  |  |
| 1. Aktien (Branchen) Informationstechnologie | 3 585 504,27 | 14,37 |
| Telekommunikationsdienste | 2 214 487,31 | 8,88 |
| Dauerhafte Konsumgüter | 7 225 981,83 | 28,99 |
| Energie | 1 438 601,91 | 5,76 |
| Hauptverbrauchsgüter | 4 976 161,68 | 19,96 |
| Grundstoffe | 1 978 104,38 | 7,93 |
| Industrien | 2 710 046,48 | 10,88 |
| Versorger | 730 172,92 | 2,93 |
| Summe Aktien | 24 859 060,78 | 99,70 |
| 2. Bankguthaben | 12 705,16 | 0,05 |
| 3. Sonstige Vermögensgegenstände | 174 486,81 | 0,70 |
| 4. Forderungen aus Anteilscheingeschäften | 2 199,43 | 0,01 |
| II. Verbindlichkeiten |  |  |
| 1. Verbindlichkeiten aus Kreditaufnahme | -29 697,57 | - 0,12 |
| 2. Sonstige Verbindlichkeiten | -83 634,73 | - 0,34 |
| 3. Verbindlichkeiten aus Anteilscheingeschäften | -201,96 | 0,00 |
| III. Fondsvermögen | 24 934 917,92 | 100,00 |
| Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein. |  |  |

| Vermögensaufstellung zum 30.6.2020 |  |
| --- | --- |
|  | Stück bzw. | Nominalbetrag | Käufe/ | Verkäufe/ | Währung | Kurs | Kurswert | %-Anteil am |
| Wertpapierbezeichnung | Anteile bzw. | bzw. | Zugänge | Abgänge |  |  | in | Fonds- |
| Währung	Bestand	im Berichtszeitraum	EUR	vermögen |
| Börsengehandelte Wertpapiere |  |  |  |  |  |  | 24 859 060,78 | 99,70 |
| Aktien BHP Billiton Ltd ...................................  | Stück | 11 430 | 2 595 | 5 398 | AUD | 35,82 | 250 859,34 | 1,01 |
| Brambles Ltd .....................................  | Stück | 35 779 | 36 812 | 1 033 | AUD | 10,87 | 238 295,70 | 0,96 |
| Magna International, Inc. ............................  | Stück | 6 395 | 1 853 | 2 475 | CAD | 59,45 | 248 123,37 | 1,00 |
| TC Energy Corp. ..................................  | Stück | 6 468 | 1 032 | 2 052 | CAD | 57,32 | 241 964,39 | 0,97 |
| Holcim Ltd .......................................  | Stück | 6 449 | 1 738 | 2 550 | CHF | 41,26 | 249 900,18 | 1,00 |
| Roche Holding AG .................................  | Stück | 800 | 822 | 1 290 | CHF | 327,65 | 246 175,67 | 0,99 |
| Bayer AG ........................................  | Stück | 3 671 | 362 | 1 710 | EUR | 65,79 | 241 515,09 | 0,97 |
| Cie Générale des Etablissements Michelin SCA ..........  | Stück | 2 774 | 449 | 798 | EUR | 91,6 | 254 098,40 | 1,02 |
| Henkel AG & Co., KgaA -Pref- ........................  | Stück | 3 108 | 291 | 1 049 | EUR | 83,14 | 258 399,12 | 1,04 |
| Kering SA ........................................  | Stück | 501 | 635 | 134 | EUR | 479,55 | 240 254,55 | 0,96 |
| Koninklijke Ahold Delhaize NV ........................  | Stück | 10 680 | 10 820 | 140 | EUR | 24,35 | 260 058,00 | 1,04 |
| Merck KGaA ......................................  | Stück | 2 463 | 2 483 | 3 393 | EUR | 102,75 | 253 073,25 | 1,02 |
| Ryanair Holdings PLC ...............................  | Stück | 22 981 | 4 808 | 6 458 | EUR | 10,62 | 244 058,22 | 0,98 |
| Sanofi ..........................................  | Stück | 2 712 | 392 | 1 604 | EUR | 90,36 | 245 056,32 | 0,98 |
| UCB SA .........................................  | Stück | 2 390 | 3 869 | 1 479 | EUR | 102,85 | 245 811,50 | 0,99 |
| Anglo American PLC ...............................  | Stück | 12 544 | 4 436 | 5 528 | GBP | 18,522 | 254 988,46 | 1,02 |
| British American Tobacco PLC ........................  | Stück | 7 244 | 7 288 | 9 381 | GBP | 31,085 | 247 130,26 | 0,99 |
| Ferguson PLC ....................................  | Stück | 3 461 | 573 | 1 391 | GBP | 65,9 | 250 313,12 | 1,00 |
| GlaxoSmithKline PLC ...............................  | Stück | 13 662 | 13 980 | 318 | GBP | 16,304 | 244 458,45 | 0,98 |
| Imperial Brands PLC ................................  | Stück | 14 965 | 2 300 | 4 174 | GBP | 15,475 | 254 158,12 | 1,02 |
| Rio Tinto PLC .....................................  | Stück | 4 947 | 305 | 2 063 | GBP | 45,135 | 245 048,46 | 0,98 |
| WPP PLC ........................................  | Stück | 35 474 | 35 803 | 329 | GBP | 6,17 | 240 210,47 | 0,96 |
| CLP Holdings Ltd ..................................  | Stück | 28 519 | 8 391 | 16 990 | HKD | 76 | 249 527,26 | 1,00 |
| Bridgestone Corp. .................................  | Stück | 8 573 | 1 000 | 2 500 | JPY | 3 469 | 246 372,76 | 0,99 |
| Central Japan Railway Co. ...........................  | Stück | 1 700 | 277 | 537 | JPY | 16 690 | 235 050,30 | 0,94 |
| Komatsu Ltd ......................................  | Stück | 13 749 | 3 700 | 5 800 | JPY | 2 203,5 | 250 980,35 | 1,01 |
| Sekisui House Ltd .................................  | Stück | 14 700 | 14 800 | 100 | JPY | 2 052,5 | 249 951,68 | 1,00 |
| Shin-Etsu Chemical Co., Ltd ..........................  | Stück | 2 456 | 96 | 1 144 | JPY | 12 595 | 256 260,75 | 1,03 |
| Subaru Corp. ......................................  | Stück | 12 518 | 1 400 | 4 200 | JPY | 2 241,5 | 232 449,84 | 0,93 |
| Tokyo Electron Ltd .................................  | Stück | 1 328 | 1 328 |  | JPY | 26 440 | 290 880,82 | 1,17 |
| Toyota Motor Corp. ................................  | Stück | 4 400 | 4 400 | 5 499 | JPY | 6 762 | 246 480,97 | 0,99 |
| Telefonaktiebolaget LM Ericsson ......................  | Stück | 30 766 | 31 157 | 391 | SEK | 85,4 | 250 797,11 | 1,01 |
| Volvo AB .........................................  | Stück | 18 070 | 1 707 | 8 064 | SEK | 144,5 | 249 241,08 | 1,00 |
| Singapore Telecommunications Ltd ...................  | Stück | 153 990 | 159 990 | 6 000 | SGD | 2,46 | 242 086,97 | 0,97 |
| AbbVie, Inc. ......................................  | Stück | 2 979 | 1 386 | 2 786 | USD | 96,07 | 255 358,15 | 1,02 |
| Alexion Pharmaceuticals, Inc. ........................  | Stück | 2 469 | 73 | 1 167 | USD | 111,8 | 246 294,28 | 0,99 |
| Altria Group, Inc. ..................................  | Stück | 6 960 | 1 679 | 2 427 | USD | 39,01 | 242 257,16 | 0,97 |
| Amgen, Inc. ......................................  | Stück | 1 260 | 249 | 603 | USD | 232,42 | 261 297,63 | 1,05 |
| Applied Materials, Inc. ..............................  | Stück | 4 754 | 71 | 1 806 | USD | 60,21 | 255 399,02 | 1,02 |
| Aptiv PLC ........................................  | Stück | 3 740 | 1 720 | 2 097 | USD | 75,3 | 251 280,05 | 1,01 |
| AT&T, Inc. ........................................  | Stück | 9 427 | 9 427 | 10 157 | USD | 29,74 | 250 153,10 | 1,00 |
| AutoZone, Inc. ....................................  | Stück | 249 | 253 | 4 | USD | 1 117,37 | 248 249,15 | 1,00 |
| Best Buy Co., Inc. .................................  | Stück | 3 427 | 4 548 | 1 121 | USD | 86,77 | 265 323,14 | 1,06 |
| Biogen Idec, Inc. ..................................  | Stück | 1 012 | 315 | 621 | USD | 260,97 | 235 647,33 | 0,95 |
| Bristol-Myers Squibb Co. ............................  | Stück | 5 009 | 1 209 | 2 291 | USD | 57,68 | 257 790,97 | 1,03 |
| Broadcom, Inc. ...................................  | Stück | 910 | 199 | 498 | USD | 313,16 | 254 272,33 | 1,02 |
| Caterpillar, Inc. ....................................  | Stück | 2 220 | 213 | 675 | USD | 124,36 | 246 334,43 | 0,99 |
| CH Robinson Worldwide, Inc. ........................  | Stück | 3 622 | 336 | 1 779 | USD | 78,3 | 253 047,26 | 1,02 |
| Cisco Systems, Inc. ................................  | Stück | 6 148 | 218 | 2 519 | USD | 46,69 | 256 123,34 | 1,03 |
| Cognizant Technology Solutions Corp. ..................  | Stück | 5 129 | 915 | 2 140 | USD | 57,24 | 261 953,22 | 1,05 |
| Comcast Corp. ....................................  | Stück | 7 216 | 1 675 | 3 483 | USD | 38,15 | 245 630,61 | 0,99 |
| Constellation Brands, Inc. ...........................  | Stück | 1 596 | 1 628 | 2 162 | USD | 173,52 | 247 100,63 | 0,99 |
| Cummins, Inc. ....................................  | Stück | 1 669 | 128 | 610 | USD | 171,01 | 254 665,00 | 1,02 |
| DaVita, Inc. .......................................  | Stück | 3 613 | 3 613 |  | USD | 77,48 | 249 775,02 | 1,00 |
| Dupont De Nemours, Inc. ...........................  | Stück | 5 384 | 7 561 | 2 177 | USD | 52,1 | 250 284,64 | 1,00 |
| Eastman Chemical Co. ..............................  | Stück | 4 022 | 4 022 |  | USD | 67,91 | 243 706,56 | 0,98 |
| Eli Lilly & Co. .....................................  | Stück | 1 787 | 1 787 | 3 125 | USD | 162,92 | 259 770,83 | 1,04 |
| Emerson Electric Co. ...............................  | Stück | 4 557 | 5 787 | 1 230 | USD | 61,05 | 248 231,06 | 1,00 |
| Facebook, Inc. ....................................  | Stück | 1 207 | 49 | 825 | USD | 220,1 | 237 038,42 | 0,95 |
| Fox Corp. ........................................  | Stück | 10 063 | 2 062 | 2 624 | USD | 26,78 | 240 452,60 | 0,96 |
| Garmin Ltd .......................................  | Stück | 2 972 | 3 798 | 826 | USD | 96,29 | 255 341,51 | 1,02 |
| Gilead Sciences, Inc. ...............................  | Stück | 3 844 | 1 011 | 3 095 | USD | 75,61 | 259 330,77 | 1,04 |
| Hasbro, Inc. ......................................  | Stück | 3 708 | 3 708 |  | USD | 72,68 | 240 461,79 | 0,96 |
| Hewlett Packard Enterprise Co. .......................  | Stück | 28 411 | 11 092 | 7 241 | USD | 9,55 | 242 092,49 | 0,97 |
| HP, Inc. ..........................................  | Stück | 16 959 | 2 245 | 4 454 | USD | 17,05 | 257 997,83 | 1,03 |
| Intel Corp. ........................................  | Stück | 4 704 | 496 | 2 591 | USD | 59,615 | 250 215,54 | 1,00 |
| International Business Machines Corp. .................  | Stück | 2 295 | 319 | 950 | USD | 119,51 | 244 725,01 | 0,98 |
| JM Smucker Co./The ...............................  | Stück | 2 616 | 846 | 2 053 | USD | 105,39 | 245 996,30 | 0,99 |
| Johnson Controls International PLC ....................  | Stück | 8 092 | 765 | 2 262 | USD | 33,71 | 243 391,86 | 0,98 |
| Kinder Morgan, Inc. ................................  | Stück | 18 065 | 18 065 |  | USD | 14,61 | 235 493,87 | 0,94 |
| KLA-Tencor Corp. ..................................  | Stück | 1 471 | 68 | 850 | USD | 194,53 | 255 323,44 | 1,02 |
| Lam Research Corp. ................................  | Stück | 909 | 14 | 467 | USD | 322,86 | 261 860,23 | 1,05 |
| Leidos Holdings, Inc. ...............................  | Stück | 2 851 | 2 851 | 4 293 | USD | 92,76 | 235 965,97 | 0,95 |
| Lockheed Martin Corp. ..............................  | Stück | 745 | 80 | 348 | USD | 363,91 | 241 903,24 | 0,97 |
| LyondellBasell Industries NV .........................  | Stück | 4 268 | 2 634 | 2 544 | USD | 63,82 | 243 037,13 | 0,97 |
| Marathon Petroleum Corp. ...........................  | Stück | 7 682 | 7 565 | 6 287 | USD | 34,95 | 239 559,23 | 0,96 |
| Masco Corp. ......................................  | Stück | 5 896 | 193 | 2 569 | USD | 49,08 | 258 198,34 | 1,04 |

| DWS Invest CROCI World |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  | Stück bzw. | Nominalbetrag | Käufe/ | Verkäufe/ | Währung | Kurs | Kurswert | %-Anteil am |
| Wertpapierbezeichnung | Anteile bzw. | bzw. | Zugänge | Abgänge |  |  | in | Fonds- |
| Währung	Bestand	im Berichtszeitraum	EUR	vermögen |
| McKesson Corp. ...................................  | Stück | 1 842 | 336 | 1 335 | USD | 150,39 | 247 172,42 | 0,99 |
| Merck & Co., Inc. ..................................  | Stück | 3 739 | 962 | 1 625 | USD | 76,39 | 254 849,27 | 1,02 |
| Mylan NV ........................................  | Stück | 17 734 | 4 120 | 7 288 | USD | 15,71 | 248 584,65 | 1,00 |
| NetApp, Inc. .....................................  | Stück | 6 608 | 7 884 | 1 276 | USD | 44,39 | 261 725,84 | 1,05 |
| Nucor Corp. ......................................  | Stück | 6 478 | 2 276 | 2 690 | USD | 40,47 | 233 919,04 | 0,94 |
| ONEOK, Inc. .....................................  | Stück | 7 886 | 13 159 | 5 273 | USD | 31,66 | 222 771,23 | 0,89 |
| Oracle Corp. ......................................  | Stück | 5 537 | 1 048 | 2 879 | USD | 55,07 | 272 070,23 | 1,09 |
| PACCAR, Inc. .....................................  | Stück | 3 833 | 444 | 1 361 | USD | 73,5 | 251 372,39 | 1,01 |
| Pfizer, Inc. ........................................  | Stück | 8 500 | 2 075 | 3 648 | USD | 32,29 | 244 894,14 | 0,98 |
| Philip Morris International, Inc. ........................  | Stück | 3 832 | 3 832 | 4 625 | USD | 69,9 | 238 997,91 | 0,96 |
| Pioneer Natural Resources Co. .......................  | Stück | 3 027 | 2 233 | 1 918 | USD | 94,33 | 254 773,16 | 1,02 |
| PPL Corp. ........................................  | Stück | 10 628 | 2 426 | 2 703 | USD | 25,5 | 241 814,95 | 0,97 |
| Raytheon Technologies Corp. ........................  | Stück | 4 235 | 4 236 |  | USD | 60,25 | 227 667,95 | 0,91 |
| Regeneron Pharmaceuticals, Inc. ......................  | Stück | 473 | 54 | 642 | USD | 616,92 | 260 364,29 | 1,04 |
| Sempra Energy ....................................  | Stück | 2 297 | 2 297 |  | USD | 116,53 | 238 830,71 | 0,96 |
| SS&C Technologies Holdings, Inc. .....................  | Stück | 4 932 | 4 932 |  | USD | 54,77 | 241 022,30 | 0,97 |
| Target Corp. ......................................  | Stück | 2 407 | 2 422 | 15 | USD | 119,03 | 255 637,14 | 1,03 |
| Tractor Supply Co. .................................  | Stück | 2 286 | 3 883 | 1 597 | USD | 132,5 | 270 261,09 | 1,08 |
| Tyson Foods, Inc. ..................................  | Stück | 4 490 | 1 550 | 1 401 | USD | 59 | 236 368,60 | 0,95 |
| Ulta Salon Cosmetics & Fragrance, Inc. .................  | Stück | 1 275 | 326 | 600 | USD | 197,25 | 224 397,81 | 0,90 |
| ViacomCBS, Inc. ..................................  | Stück | 12 242 | 12 367 | 9 892 | USD | 23,07 | 251 994,69 | 1,01 |
| Walgreens Boots Alliance, Inc. .......................  | Stück | 6 767 | 2 599 | 2 697 | USD | 41,93 | 253 170,13 | 1,02 |
| Williams Cos, Inc./The ..............................  | Stück | 15 061 | 15 061 |  | USD | 18,16 | 244 040,03 | 0,98 |
| Summe Wertpapiervermögen |  |  |  |  |  |  | 24 859 060,78 | 99,70 |
| Bankguthaben |  |  |  |  |  |  | 12 705,16 | 0,05 |
| Guthaben in sonstigen EU/EWR-Währungen |  |  |  |  |  |  |  |  |
| Britisches Pfund ...................................  | GBP | 3 951 |  |  |  |  | 4 335,97 | 0,03 |
| Dänische Kronen ..................................  | DKK | 7 |  |  |  |  | 0,96 | 0,00 |
| Norwegische Kronen ...............................  | NOK | 9 685 |  |  |  |  | 890,13 | 0,00 |
| Schwedische Kronen ...............................  | SEK | 598 |  |  |  |  | 57,08 | 0,00 |
| Guthaben in Nicht-EU/EWR-Währungen |  |  |  |  |  |  |  |  |
| Australischer Dollar ................................  | AUD | 2 625 |  |  |  |  | 1 608,15 | 0,01 |
| Hongkong Dollar ...................................  | HKD | 133 |  |  |  |  | 15,26 | 0,00 |
| Japanischer Yen ...................................  | JPY | 99 999 |  |  |  |  | 828,42 | 0,00 |
| Kanadischer Dollar .................................  | CAD | 343 |  |  |  |  | 223,76 | 0,00 |
| Schweizer Franken .................................  | CHF | 36 |  |  |  |  | 34,12 | 0,00 |
| Singapur Dollar ....................................  | SGD | 1 561 |  |  |  |  | 997,55 | 0,00 |
| US-Dollar ........................................  | USD | 4 162 |  |  |  |  | 3 713,76 | 0,01 |
| Sonstige Vermögensgegenstände |  |  |  |  |  |  | 174 486,81 | 0,70 |
| Dividenden- / Ausschüttungsansprüche .................  |  |  |  |  |  |  | 35 541,90 | 0,14 |
| Forderungen aus der Überschreitung des „Expense Cap“ ..  |  |  |  |  |  |  | 138 944,91 | 0,56 |
| Forderungen aus Anteilscheingeschäften |  |  |  |  |  |  | 2 199,43 | 0,01 |
| Summe der Vermögensgegenstände |  |  |  |  |  |  | 25 048 452,18 | 100,46 |
| Kurzfristige Verbindlichkeiten |  |  |  |  |  |  | -29 697,57 | -0,12 |
| EUR-Kredite ......................................  | EUR |  |  |  |  |  | -29 697,57 | -0,12 |
| Sonstige Verbindlichkeiten |  |  |  |  |  |  | -83 634,73 | -0,34 |
| Verbindlichkeiten aus Kostenpositionen ................  |  |  |  |  |  |  | -83 634,73 | -0,34 |
| Verbindlichkeiten aus Anteilscheingeschäften |  |  |  |  |  |  | -201,96 | 0,00 |
| Summe der Verbindlichkeiten |  |  |  |  |  |  | -113 534,26 | -0,46 |
| Fondsvermögen |  |  |  |  |  |  | 24 934 917,92 | 100,00 |

Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein.
Eine Aufstellung über die während des Berichtszeitraums abgeschlossenen Geschäfte, soweit sie nicht mehr in der Vermögensaufstellung erscheinen, ist auf Anforderung kostenlos bei der Verwaltungsgesellschaft erhältlich.
| Anteilwert bzw. umlaufende Anteile | Stück bzw. Währung | Anteilwert in der jeweiligen Währung |
| --- | --- | --- |
| Anteilwert Klasse IC .........................................  | EUR | 24 495,08 |
| Klasse LC ........................................  | EUR | 204,22 |
| Klasse TFC .......................................  | EUR | 112,69 |
| Klasse USD IC ....................................  | USD | 17 747,84 |
| Klasse USD LC ....................................  | USD | 165,60 |
| Umlaufende Anteile Klasse IC .........................................  | Stück | 444,873 |
| Klasse LC ........................................  | Stück | 45 741,080 |
| Klasse TFC .......................................  | Stück | 101,000 |
| Klasse USD IC ....................................  | Stück | 177,380 |
| Klasse USD LC ....................................  | Stück | 12 696,320 |

Zusammensetzung des Referenzportfolios (gem. CSSF-Rundschreiben 11/512) MSCI World Index in EUR
Potenzieller Risikobetrag für das Marktrisiko (gem. CSSF-Rundschreiben 11/512)
| kleinster potenzieller Risikobetrag .....................  | % | 93,802 |
| --- | --- | --- |
| größter potenzieller Risikobetrag ......................  | % | 122,654 |
| durchschnittlicher potenzieller Risikobetrag ..............  | % | 114,283 |

Die Risikokennzahlen wurden für den Zeitraum vom 1.1.2020 bis 30.6.2020 auf Basis der Methode der historischen Simulation mit den Parametern 99% Konfidenzniveau, 10 Tage Haltedauer unter Verwendung eines effektiven, historischen Beobachtungszeitraumes von einem Jahr berechnet. Als Bewertungsmaßstab wird das Risiko eines derivatefreien Vergleichsvermögens herangezogen. Unter dem Marktrisiko versteht man das Risiko, das sich aus der ungünstigsten Entwicklung von Marktpreisen für das Fondsvermögen ergibt. Bei der Ermittlung des Marktrisikopotenzials wendet die Gesellschaft den relativen Value at Risk-Ansatzim Sinne des CSSF-Rundschreibens 11/512 an.
Die durchschnittliche Hebelwirkung aus der Nutzung von Derivaten betrug im Berichtszeitraum 0,0, wobei zur Berechnung die Summe der Nominalbeträge der Derivate in Relation zum Fondsvermögen gesetzt wurde (Nominalwertmethode).
Das durch Derivate erzielte zugrundeliegende Exposure gem. Punkt 40 a) der „Leitlinien zu börsengehandelten Indexfonds und anderen OGAW-Themen“ der European Securities and Markets Authority (ESMA) belief sich zum Berichtsstichtag unter Zugrundelegung einer Bruttobetrachtung auf EUR 0,00.
 Devisenkurse (in Mengennotiz)	
per 30.6.2020
| Australischer Dollar ..............  | AUD | 1,632080 | = | EUR | 1 |
| --- | --- | --- | --- | --- | --- |
| Kanadischer Dollar ...............  | CAD | 1,532233 | = | EUR | 1 |
| Schweizer Franken ...............  | CHF | 1,064768 | = | EUR | 1 |
| Dänische Kronen ................  | DKK | 7,452704 | = | EUR | 1 |
| Britisches Pfund .................  | GBP | 0,911178 | = | EUR | 1 |
| Hongkong Dollar .................  | HKD | 8,686201 | = | EUR | 1 |
| Japanischer Yen .................  | JPY | 120,710331 | = | EUR | 1 |
| Norwegische Kronen .............  | NOK | 10,880517 | = | EUR | 1 |
| Schwedische Kronen .............  | SEK | 10,476263 | = | EUR | 1 |
| Singapur Dollar ..................  | SGD | 1,564791 | = | EUR | 1 |
| US-Dollar ......................  | USD | 1,120750 | = | EUR | 1 |

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