# DWS Invest II Asian Top Dividend (in liquidation)
| Statement of net assets as of | February 4, 2020 (liquidation date) |  |
| --- | --- | --- |
|  |  | Amount in EUR | % of net assets |
| I. Assets |  |  |  |
| 1. Equities (sectors): Information Technology |  | 24 285 484.91 | 18.00 |
| Telecommunication Services |  | 17 738 123.24 | 13.14 |
| Consumer Discretionaries |  | 12 072 168.35 | 8.94 |
| Energy |  | 1 220 258.36 | 0.91 |
| Consumer Staples |  | 10 264 402.07 | 7.62 |
| Financials |  | 41 464 976.22 | 30.75 |
| Basic Materials |  | 6 138 168.37 | 4.54 |
| Industrials |  | 10 224 141.84 | 7.58 |
| Utilities |  | 5 814 039.49 | 4.32 |
| Other |  | 363 167.17 | 0.27 |
| Total equities |  | 129 584 930.02 | 96.07 |
| 2. Investment fund units Other funds |  | 1 256 438.16 | 0.93 |
| Total investment fund units |  | 1 256 438.16 | 0.93 |
| 3. Derivatives |  | 2 727.04 | 0.00 |
| 4. Cash at bank |  | 4 236 690.07 | 3.14 |
| 5. Other assets |  | 131 144.67 | 0.10 |
| II. Liabilities |  |  |  |
| 1. Loan liabilities |  | -318 275.07 | - 0.24 |
| III. Net assets |  | 134 893 654.89 | 100.00 |

Negligible rounding errors may have arisen due to the rounding of calculated percentages.
Investment portfolio – February 4, 2020 (liquidation date)
| Count/ Security name	units/ | Quantity/ principal | Purchases/ additions | Sales/ disposals | Currency | Market price | Total market value in | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  | currency | amount | in the reporting period |  |  | EUR |  |
| Securities traded on an exchange |  |  |  |  |  | 127 182 508.18 | 94.29 |
| Equities China Construction Bank Corp. ........................  | Count | 260 000 |  | EUR | 0.72 | 187 200.00 | 0.14 |
| Industrial & Commercial Bank of China Ltd ..............  | Count | 229 000 |  | EUR | 0.62 | 141 980.00 | 0.11 |
| Rio Tinto PLC......................................  | Count | 50 000 | 25 000 | GBP | 41.98 | 2 475 106.72 | 1.83 |
| Agricultural Bank of China Ltd.........................  | Count | 1 600 000 |  | HKD | 3.02 | 563 237.03 | 0.42 |
| AIA Group Ltd .....................................  | Count | 320 000 | 50 000 | HKD | 79.25 | 2 956 061.88 | 2.19 |
| ANTA Sports Products Ltd ...........................  | Count | 320 000 |  | HKD | 69.05 | 2 575 597.14 | 1.91 |
| Bank of China Ltd ..................................  | Count | 2 800 000 |  | HKD | 3.06 | 998 719.96 | 0.74 |
| China Construction Bank Corp. ........................  | Count | 3 740 000 |  | HKD | 6.08 | 2 650 571.07 | 1.96 |
| China Merchants Bank Co., Ltd .......................  | Count | 440 000 |  | HKD | 38.2 | 1 959 206.94 | 1.45 |
| China Mobile Ltd ...................................  | Count | 267 483 |  | HKD | 63.8 | 1 989 212.30 | 1.47 |
| China Overseas Land & Investment Ltd .................  | Count | 297 493 | 50 000 | HKD | 26 | 901 600.97 | 0.67 |
| China Petroleum & Chemical Corp......................  | Count | 609 553 |  | HKD | 4.1 | 291 312.82 | 0.22 |
| China Resources Land Ltd ...........................  | Count | 330 000 | 50 000 | HKD | 33.8 | 1 300 154.35 | 0.96 |
| China Vanke Co., Ltd................................  | Count | 315 000 |  | HKD | 28.65 | 1 051 960.55 | 0.78 |
| CK Infrastructure Holdings Ltd ........................  | Count | 81 000 |  | HKD | 54.05 | 510 322.82 | 0.38 |
| CLP Holdings Ltd...................................  | Count | 105 000 |  | HKD | 80.1 | 980 361.14 | 0.73 |
| CNOOC Ltd .......................................  | Count | 492 327 |  | HKD | 11.8 | 677 173.47 | 0.50 |
| Guangdong Investment Ltd...........................  | Count | 1 694 135 |  | HKD | 15.68 | 3 096 409.17 | 2.30 |
| Guangzhou Automobile Group Co., Ltd .................  | Count | 1 703 600 | 500 000 | HKD | 8.13 | 1 614 442.01 | 1.20 |
| Haier Electronics Group Co., Ltd.......................  | Count | 450 000 |  | HKD | 23.4 | 1 227 418.44 | 0.91 |
| Hang Seng Bank Ltd ................................  | Count | 80 000 |  | HKD | 157.6 | 1 469 638.34 | 1.09 |
| HKT Trust & HKT Ltd................................  | Count | 676 000 | 166 000 | HKD | 11.9 | 937 687.07 | 0.69 |
| Hong Kong Exchanges and Clearing Ltd.................  | Count | 28 000 |  | HKD | 264 | 861 640.75 | 0.64 |
| Industrial & Commercial Bank of China Ltd ..............  | Count | 2 021 000 |  | HKD | 5.29 | 1 246 195.73 | 0.92 |
| Jiangsu Expressway Co., Ltd .........................  | Count | 500 000 |  | HKD | 10.32 | 601 470.00 | 0.45 |
| MTR Corp., Ltd ....................................  | Count | 160 000 |  | HKD | 43.75 | 815 947.68 | 0.60 |
| NagaCorp Ltd .....................................  | Count | 406 000 |  | HKD | 11.18 | 529 093.11 | 0.39 |
| Ping An Insurance Group Co. of China Ltd ...............  | Count | 265 000 |  | HKD | 89.4 | 2 761 516.64 | 2.05 |
| Power Assets Holdings Ltd...........................  | Count | 270 000 |  | HKD | 55.2 | 1 737 269.18 | 1.29 |
| Samsonite International SA ...........................  | Count | 43 800 |  | HKD | 15.02 | 76 684.63 | 0.06 |
| Sands China Ltd ...................................  | Count | 125 324 | 50 000 | HKD | 37.25 | 544 157.72 | 0.40 |
| Shenzhou International Group Holdings Ltd ..............  | Count | 160 000 |  | HKD | 105.5 | 1 967 599.55 | 1.46 |
| Shimao Property Holdings Ltd ........................  | Count | 510 000 |  | HKD | 26.95 | 1 602 113.27 | 1.19 |
| Sun Hung Kai Properties Ltd ..........................  | Count | 50 000 |  | HKD | 110.4 | 643 433.03 | 0.48 |
| Sunny Optical Technology Group Co., Ltd ...............  | Count | 150 000 |  | HKD | 134.6 | 2 353 426.24 | 1.74 |
| Techtronic Industries Co., Ltd .........................  | Count | 205 000 |  | HKD | 64.15 | 1 532 903.42 | 1.14 |
| Tencent Holdings Ltd ...............................  | Count | 108 000 | 12 000 | HKD | 393 | 4 947 440.48 | 3.67 |
| Astra International Tbk PT ............................  | Count | 1 200 000 |  | IDR | 6 400 | 507 198.18 | 0.38 |
| Bank Mandiri Persero Tbk PT .........................  | Count | 2 200 000 | 600 000 | IDR | 7 525 | 1 093 315.87 | 0.81 |
| Bank Rakyat Indonesia Persero Tbk PT .................  | Count | 7 000 000 |  | IDR | 4 560 | 2 108 042.43 | 1.56 |
| Indofood CBP Sukses Makmur Tbk PT..................  | Count | 1 400 000 |  | IDR | 11 600 | 1 072 512.82 | 0.79 |
| Telekomunikasi Indonesia Persero Tbk PT ...............  | Count | 6 600 000 |  | IDR | 3 760 | 1 638 884.12 | 1.21 |
| Coway Co., Ltd ....................................  | Count | 9 000 |  | KRW | 86 500 | 593 604.53 | 0.44 |
| KT&G Corp. .......................................  | Count | 33 000 | 8 000 | KRW | 91 600 | 2 304 878.32 | 1.71 |
| LG Chem Ltd -Pref- .................................  | Count | 5 400 |  | KRW | 195 000 | 802 910.17 | 0.59 |
| Samsung Electronics Co., Ltd .........................  | Count | 62 000 |  | KRW | 58 900 | 2 784 489.43 | 2.06 |
| Samsung Electronics Co., Ltd -Pref- ....................  | Count | 180 000 |  | KRW | 49 650 | 6 814 442.74 | 5.05 |
| Shinhan Financial Group Co., Ltd ......................  | Count | 28 000 |  | KRW | 38 900 | 830 512.59 | 0.62 |
| SK Hynix, Inc. .....................................  | Count | 22 000 | 5 000 | KRW | 97 100 | 1 628 847.78 | 1.21 |
| SK Telecom Co., Ltd ................................  | Count | 5 500 |  | KRW | 226 500 | 949 881.62 | 0.70 |
| Malayan Banking Bhd ...............................  | Count | 460 900 |  | MYR | 8.4 | 853 003.73 | 0.63 |
| Ayala Land, Inc. ....................................  | Count | 810 900 |  | PHP | 40.95 | 592 199.40 | 0.44 |
| BDO Unibank, Inc...................................  | Count | 550 000 | 200 000 | PHP | 150.7 | 1 478 164.27 | 1.10 |
| SM Prime Holdings, Inc. .............................  | Count | 2 400 000 | 1 303 000 | PHP | 38.9 | 1 664 974.55 | 1.23 |
| ComfortDelGro Corp., Ltd. ...........................  | Count | 406 400 | 186 000 | SGD | 2.15 | 577 380.51 | 0.43 |
| DBS Group Holdings Ltd .............................  | Count | 200 000 |  | SGD | 25.15 | 3 323 823.41 | 2.46 |
| Singapore Exchange Ltd .............................  | Count | 300 000 |  | SGD | 8.68 | 1 720 722.90 | 1.28 |
| Singapore Telecommunications Ltd ....................  | Count | 1 000 000 | 200 000 | SGD | 3.29 | 2 174 031.62 | 1.61 |
| Thai Beverage PCL .................................  | Count | 4 600 000 | 100 000 | SGD | 0.8 | 2 431 743.57 | 1.80 |
| Airports of Thailand PCL .............................  | Count | 200 000 | 109 000 | THB | 70.75 | 414 252.89 | 0.31 |
| PTT PCL .........................................  | Count | 200 000 | 500 000 | THB | 43 | 251 772.07 | 0.19 |
| Catcher Technology Co., Ltd..........................  | Count | 180 000 | 60 000 | TWD | 240.5 | 1 300 161.81 | 0.96 |
| Chailease Holding Co., Ltd ...........................  | Count | 388 054 |  | TWD | 128 | 1 491 804.64 | 1.11 |
| Chicony Electronics Co., Ltd ..........................  | Count | 200 728 |  | TWD | 85.2 | 513 638.27 | 0.38 |
| CTBC Financial Holding Co., Ltd .......................  | Count | 2 200 000 |  | TWD | 22.3 | 1 473 456.65 | 1.09 |
| Far EasTone Telecommunications Co., Ltd...............  | Count | 350 000 |  | TWD | 67.9 | 713 752.49 | 0.53 |
| First Financial Holding Co., Ltd ........................  | Count | 1 068 458 |  | TWD | 23.55 | 755 715.25 | 0.56 |
| Formosa Plastics Corp. ..............................  | Count | 163 000 |  | TWD | 93.5 | 457 729.64 | 0.34 |
| Hon Hai Precision Industry Co., Ltd ....................  | Count | 410 800 | 160 000 | TWD | 82.2 | 1 014 173.07 | 0.75 |
| Largan Precision Co., Ltd ............................  | Count | 5 000 |  | TWD | 4 835 | 726 066.34 | 0.54 |
| President Chain Store Corp. ..........................  | Count | 70 000 |  | TWD | 299 | 628 606.76 | 0.47 |
| Taiwan Cement Corp. ...............................  | Count | 749 397 |  | TWD | 42.4 | 954 305.94 | 0.71 |
| Taiwan Mobile Co., Ltd ..............................  | Count | 500 000 |  | TWD | 107.5 | 1 614 315.02 | 1.20 |
| Taiwan Semiconductor Manufacturing Co., Ltd ...........  | Count | 462 000 |  | TWD | 325 | 4 509 570.25 | 3.34 |
| Uni-President Enterprises Corp. .......................  | Count | 1 200 000 | 250 000 | TWD | 73.5 | 2 648 978.33 | 1.96 |
| Chunghwa Telecom Co., Ltd -ADR- ....................  | Count | 85 000 |  | USD | 36.03 | 2 772 918.52 | 2.06 |


#
| Count/ Security name	units/ | Quantity/ principal | Purchases/ additions | Sales/ disposals | Currency | Market price | Total market value in | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| currency	amount	in the reporting period	EUR |
| CK Infrastructure Holdings Ltd ........................  | Count | 4 000 |  |  | USD | 6.958 | 25 201.12 | 0.02 |
| HDFC Bank Ltd -ADR- ...............................  | Count | 27 000 |  |  | USD | 58.9 | 1 439 902.15 | 1.07 |
| ICICI Bank Ltd -ADR-................................  | Count | 100 000 |  |  | USD | 14.845 | 1 344 107.87 | 1.00 |
| Infosys Ltd -ADR- ..................................  | Count | 240 000 |  |  | USD | 11.155 | 2 424 011.84 | 1.80 |
| Jardine Matheson Holdings Ltd .......................  | Count | 2 800 |  |  | USD | 57.3 | 145 266.87 | 0.11 |
| Jardine Matheson Holdings Ltd .......................  | Count | 4 200 |  |  | USD | 57.3 | 217 900.30 | 0.16 |
| New Oriental Education & Technology Group, Inc. -ADR- ...  | Count | 25 000 |  |  | USD | 133.09 | 3 012 585.31 | 2.23 |
| Taiwan Semiconductor Manufacturing Co., Ltd -ADR- ......  | Count | 108 000 |  |  | USD | 57.375 | 5 610 484.60 | 4.16 |
| Securities admitted to or included in organized markets |  |  |  |  |  |  | 2 402 421.84 | 1.78 |
| Equities BHP Group PLC ...................................  | Count | 120 000 | 60 000 |  | GBP | 16.978 | 2 402 421.84 | 1.78 |
| Investment fund units |  |  |  |  |  |  | 1 256 438.16 | 0.93 |
| In-group fund units Deutsche Global Liquidity Series Plc - Managed Dollar Fund - EUR - (0.150%) .................  | Units | 134 | 27 | 180 | USD | 10 339.181 | 1 256 438.16 | 0.93 |
| Total securities portfolio |  |  |  |  |  |  | 130 841 368.18 | 97.00 |
| Derivatives (Minus signs denote short positions) |  |  |  |  |  |  |  |  |
| Derivatives on individual securities |  |  |  |  |  |  | 2 727.04 | 0.00 |
| Warrants on securities |  |  |  |  |  |  |  |  |
| Equity warrants Minor International PCL 20/04/2026 ....................  | Count | 34 500 |  |  | THB | 2.7 | 2 727.04 | 0.00 |
| Cash at bank |  |  |  |  |  |  | 4 236 690.07 | 3.14 |
| Demand deposits at Depositary EUR deposits......................................  | EUR |  |  |  |  |  | 3 229 706.42 | 2.39 |
| Deposits in other EU/EEA currencies |  |  |  |  |  |  |  |  |
| British pound .....................................  | GBP | 8 498 |  |  |  |  | 10 020.68 | 0.01 |
| Deposits in non-EU/EEA currencies |  |  |  |  |  |  |  |  |
| Hong Kong dollar ..................................  | HKD | 100 594 |  |  |  |  | 11 725.61 | 0.01 |
| Indonesian rupiah ..................................  | IDR | 150 563 536 |  |  |  |  | 9 943.43 | 0.01 |
| South Korean won..................................  | KRW | 12 835 651 |  |  |  |  | 9 787.16 | 0.01 |
| Malaysian ringgit ...................................  | MYR | 2 257 470 |  |  |  |  | 497 378.30 | 0.36 |
| Philippine peso ....................................  | PHP | 563 101 |  |  |  |  | 10 042.30 | 0.01 |
| Singapore dollar ...................................  | SGD | 85 792 |  |  |  |  | 56 691.34 | 0.04 |
| Thai baht .........................................  | THB | 532 956 |  |  |  |  | 15 602.71 | 0.01 |
| New Taiwan dollar..................................  | TWD | 2 982 949 |  |  |  |  | 89 589.20 | 0.07 |
| U.S. dollar ........................................  | USD | 327 141 |  |  |  |  | 296 202.92 | 0.22 |
| Other assets |  |  |  |  |  |  | 131 144.67 | 0.10 |
| Dividends/Distributions receivable .....................  |  |  |  |  |  |  | 105 389.77 | 0.08 |
| Interest receivable .................................  |  |  |  |  |  |  | 241.63 | 0.00 |
| Receivables from exceeding the expense cap ............  |  |  |  |  |  |  | 25 513.27 | 0.02 |
| Total assets |  |  |  |  |  |  | 135 211 929.96 | 100.24 |
| Other liabilities |  |  |  |  |  |  | -318 275.07 | -0.24 |
| Liabilities from cost items ............................  |  |  |  |  |  |  | -291 020.54 | -0.22 |
| Additional other liabilities.............................  |  |  |  |  |  |  | -27 254.53 | -0.02 |
| Total liabilities |  |  |  |  |  |  | -318 275.07 | -0.24 |
| Net assets |  |  |  |  |  |  | 134 893 654.89 | 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 FC .........................................  | EUR | 166.33 |
| Class LC .........................................  | EUR | 155.78 |
| Class LD .........................................  | EUR | 131.77 |
| Class TFD ........................................  | EUR | 107.25 |
| Number of shares outstanding Class FC .........................................  | Count | 361 002.008 |
| Class LC .........................................  | Count | 470 838.697 |
| Class LD .........................................  | Count | 11 376.782 |
| Class TFD ........................................  | Count | 20.000 |

Composition of the reference portfolio (according to CSSF circular 11/512) MSCI AC Asia ex Japan High Dividend Yield in EUR
Market risk exposure (value-at-risk) (according to CSSF circular 11/512)
| Lowest market risk exposure .........................  | % | 49.430 |
| --- | --- | --- |
| Highest market risk exposure .........................  | % | 108.342 |
| Average market risk exposure ........................  | % | 104.142 |

The values-at-risk were calculated for the period from January 1, 2020, through February 4, 2020, using historical simulation with a 99% confidence level, a 10-day holding period and an effective historical observation period of one year. The risk in a reference portfolio that does not contain derivatives is used as the measurement benchmark. Market risk is the risk to the fund’s assets arising from an unfavorable change in market prices. The Company determines the potential market risk by means of the relative value-at-risk approachas defined in CSSF circular 11/512.
In the reporting period, the average leverage effect from the use of derivatives was 0.0, whereby the total of the nominal amounts of the derivatives in relation to the fund’s assets was used for the calculation (sum-of-notional approach).
The gross exposure generated via derivatives pursuant to point 40 a) of the “Guidelines on ETFs and other UCITS issues” of the European Securities and Markets Authority (ESMA) totaled USD 0.00 as of the reporting date.
 Exchange rates (indirect quotes)	
As of February 4, 2020 (liquidation date)
| British pound .................. . | GBP | 0.848044 | = | EUR | 1 |
| --- | --- | --- | --- | --- | --- |
| Hong Kong dollar ............... . | HKD | 8.578981 | = | EUR | 1 |
| Indonesian rupiah ............... . | IDR | 15 142.010187 | = | EUR | 1 |
| South Korean won............... . | KRW | 1 311.479212 | = | EUR | 1 |
| Malaysian ringgit ................ . | MYR | 4.538737 | = | EUR | 1 |
| Philippine peso ................. . | PHP | 56.072929 | = | EUR | 1 |
| Singapore dollar ................ . | SGD | 1.513317 | = | EUR | 1 |
| Thai baht ...................... . | THB | 34.157879 | = | EUR | 1 |
| New Taiwan dollar............... . | TWD | 33.295856 | = | EUR | 1 |
| U.S. dollar ..................... . | USD | 1.104450 | = | EUR | 1 |

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

Translation (ENDE, 2020-06-30):
# DWS Invest II Asian Top Dividend (in Auflösung)
| Vermögensübersicht zum 4.2.2020 (Auflösungsstichtag) |  |
| --- | --- |
|  | Bestand in EUR | %-Anteil am Fondsvermögen |
| I. Vermögensgegenstände |  |  |
| 1. Aktien (Branchen) Informationstechnologie | 24 285 484,91 | 18,00 |
| Telekommunikationsdienste | 17 738 123,24 | 13,14 |
| Dauerhafte Konsumgüter | 12 072 168,35 | 8,94 |
| Energie | 1 220 258,36 | 0,91 |
| Hauptverbrauchsgüter | 10 264 402,07 | 7,62 |
| Finanzsektor | 41 464 976,22 | 30,75 |
| Grundstoffe | 6 138 168,37 | 4,54 |
| Industrien | 10 224 141,84 | 7,58 |
| Versorger | 5 814 039,49 | 4,32 |
| Sonstige | 363 167,17 | 0,27 |
| Summe Aktien | 129 584 930,02 | 96,07 |
| 2. Investmentanteile Sonstige Fonds | 1 256 438,16 | 0,93 |
| Summe Investmentanteile | 1 256 438,16 | 0,93 |
| 3. Derivate | 2 727,04 | 0,00 |
| 4. Bankguthaben | 4 236 690,07 | 3,14 |
| 5. Sonstige Vermögensgegenstände | 131 144,67 | 0,10 |
| II. Verbindlichkeiten |  |  |
| 1. Verbindlichkeiten aus Kreditaufnahme | -318 275,07 | - 0,24 |
| III. Fondsvermögen | 134 893 654,89 | 100,00 |
| Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein. |  |  |


#### Vermögensaufstellung zum 4.2.2020 (Auflösungsstichtag)
|  | Stück bzw. | Nominalbetrag | Käufe/ | Verkäufe/ | Währung | Kurs | Kurswert | %-Anteil am |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Wertpapierbezeichnung | Anteile bzw. | bzw. | Zugänge | Abgänge |  |  | in | Fonds- |
| Währung	Bestand	im Berichtszeitraum	EUR	vermögen |

| 127 182 508,18 | 94,29 |
| --- | --- |
| 187 200,00 | 0,14 |
| 141 980,00 | 0,11 |

Börsengehandelte Wertpapiere Aktien
China Construction Bank Corp. .......................	Stück	260 000	EUR	0,72
Industrial & Commercial Bank of China Ltd ..............	Stück	229 000	EUR	0,62
| Rio Tinto PLC .....................................  | Stück | 50 000 | 25 000 |  | GBP | 41,98 | 2 475 106,72 | 1,83 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Agricultural Bank of China Ltd ........................  | Stück | 1 600 000 |  |  | HKD | 3,02 | 563 237,03 | 0,42 |
| AIA Group Ltd ....................................  | Stück | 320 000 |  | 50 000 | HKD | 79,25 | 2 956 061,88 | 2,19 |
| ANTA Sports Products Ltd ...........................  | Stück | 320 000 |  |  | HKD | 69,05 | 2 575 597,14 | 1,91 |
| Bank of China Ltd ..................................  | Stück | 2 800 000 |  |  | HKD | 3,06 | 998 719,96 | 0,74 |
| China Construction Bank Corp. .......................  | Stück | 3 740 000 |  |  | HKD | 6,08 | 2 650 571,07 | 1,96 |
| China Merchants Bank Co., Ltd .......................  | Stück | 440 000 |  |  | HKD | 38,2 | 1 959 206,94 | 1,45 |
| China Mobile Ltd ..................................  | Stück | 267 483 |  |  | HKD | 63,8 | 1 989 212,30 | 1,47 |
| China Overseas Land & Investment Ltd ................  | Stück | 297 493 |  | 50 000 | HKD | 26 | 901 600,97 | 0,67 |
| China Petroleum & Chemical Corp. ....................  | Stück | 609 553 |  |  | HKD | 4,1 | 291 312,82 | 0,22 |
| China Resources Land Ltd ...........................  | Stück | 330 000 |  | 50 000 | HKD | 33,8 | 1 300 154,35 | 0,96 |
| China Vanke Co., Ltd ...............................  | Stück | 315 000 |  |  | HKD | 28,65 | 1 051 960,55 | 0,78 |
| CK Infrastructure Holdings Ltd ........................  | Stück | 81 000 |  |  | HKD | 54,05 | 510 322,82 | 0,38 |
| CLP Holdings Ltd ..................................  | Stück | 105 000 |  |  | HKD | 80,1 | 980 361,14 | 0,73 |
| CNOOC Ltd ......................................  | Stück | 492 327 |  |  | HKD | 11,8 | 677 173,47 | 0,50 |
| Guangdong Investment Ltd ..........................  | Stück | 1 694 135 |  |  | HKD | 15,68 | 3 096 409,17 | 2,30 |
| Guangzhou Automobile Group Co., Ltd .................  | Stück | 1 703 600 |  | 500 000 | HKD | 8,13 | 1 614 442,01 | 1,20 |
| Haier Electronics Group Co., Ltd ......................  | Stück | 450 000 |  |  | HKD | 23,4 | 1 227 418,44 | 0,91 |
| Hang Seng Bank Ltd ...............................  | Stück | 80 000 |  |  | HKD | 157,6 | 1 469 638,34 | 1,09 |
| HKT Trust & HKT Ltd ...............................  | Stück | 676 000 | 166 000 |  | HKD | 11,9 | 937 687,07 | 0,69 |
| Hong Kong Exchanges and Clearing Ltd ................  | Stück | 28 000 |  |  | HKD | 264 | 861 640,75 | 0,64 |
| Industrial & Commercial Bank of China Ltd ..............  | Stück | 2 021 000 |  |  | HKD | 5,29 | 1 246 195,73 | 0,92 |
| Jiangsu Expressway Co., Ltd .........................  | Stück | 500 000 |  |  | HKD | 10,32 | 601 470,00 | 0,45 |
| MTR Corp., Ltd ....................................  | Stück | 160 000 |  |  | HKD | 43,75 | 815 947,68 | 0,60 |
| NagaCorp Ltd .....................................  | Stück | 406 000 |  |  | HKD | 11,18 | 529 093,11 | 0,39 |
| Ping An Insurance Group Co. of China Ltd ..............  | Stück | 265 000 |  |  | HKD | 89,4 | 2 761 516,64 | 2,05 |
| Power Assets Holdings Ltd ..........................  | Stück | 270 000 |  |  | HKD | 55,2 | 1 737 269,18 | 1,29 |
| Samsonite International SA ..........................  | Stück | 43 800 |  |  | HKD | 15,02 | 76 684,63 | 0,06 |
| Sands China Ltd ...................................  | Stück | 125 324 |  | 50 000 | HKD | 37,25 | 544 157,72 | 0,40 |
| Shenzhou International Group Holdings Ltd .............  | Stück | 160 000 |  |  | HKD | 105,5 | 1 967 599,55 | 1,46 |
| Shimao Property Holdings Ltd ........................  | Stück | 510 000 |  |  | HKD | 26,95 | 1 602 113,27 | 1,19 |
| Sun Hung Kai Properties Ltd .........................  | Stück | 50 000 |  |  | HKD | 110,4 | 643 433,03 | 0,48 |
| Sunny Optical Technology Group Co., Ltd ...............  | Stück | 150 000 |  |  | HKD | 134,6 | 2 353 426,24 | 1,74 |
| Techtronic Industries Co., Ltd ........................  | Stück | 205 000 |  |  | HKD | 64,15 | 1 532 903,42 | 1,14 |
| Tencent Holdings Ltd ...............................  | Stück | 108 000 |  | 12 000 | HKD | 393 | 4 947 440,48 | 3,67 |
| Astra International Tbk PT ...........................  | Stück | 1 200 000 |  |  | IDR | 6 400 | 507 198,18 | 0,38 |
| Bank Mandiri Persero Tbk PT .........................  | Stück | 2 200 000 | 600 000 |  | IDR | 7 525 | 1 093 315,87 | 0,81 |
| Bank Rakyat Indonesia Persero Tbk PT .................  | Stück | 7 000 000 |  |  | IDR | 4 560 | 2 108 042,43 | 1,56 |
| Indofood CBP Sukses Makmur Tbk PT .................  | Stück | 1 400 000 |  |  | IDR | 11 600 | 1 072 512,82 | 0,79 |
| Telekomunikasi Indonesia Persero Tbk PT ..............  | Stück | 6 600 000 |  |  | IDR | 3 760 | 1 638 884,12 | 1,21 |
| Coway Co., Ltd ....................................  | Stück | 9 000 |  |  | KRW | 86 500 | 593 604,53 | 0,44 |
| KT&G Corp. ......................................  | Stück | 33 000 |  | 8 000 | KRW | 91 600 | 2 304 878,32 | 1,71 |
| LG Chem Ltd -Pref- ................................  | Stück | 5 400 |  |  | KRW | 195 000 | 802 910,17 | 0,59 |
| Samsung Electronics Co., Ltd ........................  | Stück | 62 000 |  |  | KRW | 58 900 | 2 784 489,43 | 2,06 |
| Samsung Electronics Co., Ltd -Pref- ...................  | Stück | 180 000 |  |  | KRW | 49 650 | 6 814 442,74 | 5,05 |
| Shinhan Financial Group Co., Ltd ......................  | Stück | 28 000 |  |  | KRW | 38 900 | 830 512,59 | 0,62 |
| SK Hynix, Inc. .....................................  | Stück | 22 000 | 5 000 |  | KRW | 97 100 | 1 628 847,78 | 1,21 |
| SK Telecom Co., Ltd ...............................  | Stück | 5 500 |  |  | KRW | 226 500 | 949 881,62 | 0,70 |
| Malayan Banking Bhd ...............................  | Stück | 460 900 |  |  | MYR | 8,4 | 853 003,73 | 0,63 |
| Ayala Land, Inc. ...................................  | Stück | 810 900 |  |  | PHP | 40,95 | 592 199,40 | 0,44 |
| BDO Unibank, Inc. .................................  | Stück | 550 000 | 200 000 |  | PHP | 150,7 | 1 478 164,27 | 1,10 |
| SM Prime Holdings, Inc. ............................  | Stück | 2 400 000 | 1 303 000 |  | PHP | 38,9 | 1 664 974,55 | 1,23 |
| ComfortDelGro Corp., Ltd. ...........................  | Stück | 406 400 |  | 186 000 | SGD | 2,15 | 577 380,51 | 0,43 |
| DBS Group Holdings Ltd ............................  | Stück | 200 000 |  |  | SGD | 25,15 | 3 323 823,41 | 2,46 |
| Singapore Exchange Ltd ............................  | Stück | 300 000 |  |  | SGD | 8,68 | 1 720 722,90 | 1,28 |
| Singapore Telecommunications Ltd ....................  | Stück | 1 000 000 |  | 200 000 | SGD | 3,29 | 2 174 031,62 | 1,61 |
| Thai Beverage PCL .................................  | Stück | 4 600 000 |  | 100 000 | SGD | 0,8 | 2 431 743,57 | 1,80 |
| Airports of Thailand PCL .............................  | Stück | 200 000 |  | 109 000 | THB | 70,75 | 414 252,89 | 0,31 |
| PTT PCL  ........................................  | Stück | 200 000 |  | 500 000 | THB | 43 | 251 772,07 | 0,19 |
| Catcher Technology Co., Ltd .........................  | Stück | 180 000 | 60 000 |  | TWD | 240,5 | 1 300 161,81 | 0,96 |
| Chailease Holding Co., Ltd ...........................  | Stück | 388 054 |  |  | TWD | 128 | 1 491 804,64 | 1,11 |
| Chicony Electronics Co., Ltd .........................  | Stück | 200 728 |  |  | TWD | 85,2 | 513 638,27 | 0,38 |
| CTBC Financial Holding Co., Ltd ......................  | Stück | 2 200 000 |  |  | TWD | 22,3 | 1 473 456,65 | 1,09 |
| Far EasTone Telecommunications Co., Ltd ..............  | Stück | 350 000 |  |  | TWD | 67,9 | 713 752,49 | 0,53 |
| First Financial Holding Co., Ltd .......................  | Stück | 1 068 458 |  |  | TWD | 23,55 | 755 715,25 | 0,56 |
| Formosa Plastics Corp. .............................  | Stück | 163 000 |  |  | TWD | 93,5 | 457 729,64 | 0,34 |
| Hon Hai Precision Industry Co., Ltd ....................  | Stück | 410 800 | 160 000 |  | TWD | 82,2 | 1 014 173,07 | 0,75 |
| Largan Precision Co., Ltd ............................  | Stück | 5 000 |  |  | TWD | 4 835 | 726 066,34 | 0,54 |
| President Chain Store Corp. ..........................  | Stück | 70 000 |  |  | TWD | 299 | 628 606,76 | 0,47 |
| Taiwan Cement Corp. ..............................  | Stück | 749 397 |  |  | TWD | 42,4 | 954 305,94 | 0,71 |
| Taiwan Mobile Co., Ltd .............................  | Stück | 500 000 |  |  | TWD | 107,5 | 1 614 315,02 | 1,20 |
| Taiwan Semiconductor Manufacturing Co., Ltd ...........  | Stück | 462 000 |  |  | TWD | 325 | 4 509 570,25 | 3,34 |
| Uni-President Enterprises Corp. .......................  | Stück | 1 200 000 |  | 250 000 | TWD | 73,5 | 2 648 978,33 | 1,96 |
| Chunghwa Telecom Co., Ltd -ADR- ....................  | Stück | 85 000 |  |  | USD | 36,03 | 2 772 918,52 | 2,06 |


#
| Stück bzw. Wertpapierbezeichnung	Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Währung | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Währung | Bestand | im Berichtszeitraum | EUR | vermögen |
| CK Infrastructure Holdings Ltd ........................  | Stück | 4 000 | USD | 6,958 | 25 201,12 | 0,02 |
| HDFC Bank Ltd -ADR- ..............................  | Stück | 27 000 | USD | 58,9 | 1 439 902,15 | 1,07 |
| ICICI Bank Ltd -ADR- ...............................  | Stück | 100 000 | USD | 14,845 | 1 344 107,87 | 1,00 |
| Infosys Ltd -ADR- ..................................  | Stück | 240 000 | USD | 11,155 | 2 424 011,84 | 1,80 |
| Jardine Matheson Holdings Ltd .......................  | Stück | 2 800 | USD | 57,3 | 145 266,87 | 0,11 |
| Jardine Matheson Holdings Ltd .......................  | Stück | 4 200 | USD | 57,3 | 217 900,30 | 0,16 |
| New Oriental Education & Technology Group, Inc. -ADR- ...  | Stück | 25 000 | USD | 133,09 | 3 012 585,31 | 2,23 |
| Taiwan Semiconductor Manufacturing Co., Ltd -ADR- .....  | Stück | 108 000 | USD | 57,375 | 5 610 484,60 | 4,16 |
| An organisierten Märkten zugelassene oder in diese einbezogene Wertpapiere |  |  |  |  | 2 402 421,84 | 1,78 |
| Aktien BHP Group PLC ...................................	Stück	120 000 | 60 000 |  | GBP | 16,978 | 2 402 421,84 | 1,78 |
| Investmentanteile |  |  |  |  | 1 256 438,16 | 0,93 |
| Gruppeneigene Investmentanteile Deutsche Global Liquidity Series Plc - Managed Dollar Fund - EUR - (0,150%) .................	Anteile	134 | 27 | 180 | USD | 10 339,181 | 1 256 438,16 | 0,93 |
| Summe Wertpapiervermögen |  |  |  |  | 130 841 368,18 | 97,00 |
| Derivate (Bei den mit Minus gekennzeichneten Beständen handelt es sich um verkaufte Positionen) |  |  |  |  |  |  |
| Derivate auf einzelne Wertpapiere |  |  |  |  | 2 727,04 | 0,00 |
| Wertpapier-Optionsscheine |  |  |  |  |  |  |
| Optionsscheine auf Aktien Minor International PCL 20/04/2026 ...................	Stück	34 500 |  |  | THB | 2,7 | 2 727,04 | 0,00 |
| Bankguthaben |  |  |  |  | 4 236 690,07 | 3,14 |
| Verwahrstelle (täglich fällig) EUR-Guthaben	EUR |  |  |  |  | 3 229 706,42 | 2,39 |
| Guthaben in sonstigen EU/EWR-Währungen |  |  |  |  |  |  |
| Britisches Pfund ...................................	GBP	8 498 |  |  |  |  | 10 020,68 | 0,01 |
| Guthaben in Nicht-EU/EWR-Währungen |  |  |  |  |  |  |
| Hongkong Dollar ...................................	HKD	100 594 |  |  |  |  | 11 725,61 | 0,01 |
| Indonesische Rupie ................................	IDR	150 563 536 |  |  |  |  | 9 943,43 | 0,01 |
| Südkoreanischer Won ..............................	KRW	12 835 651 |  |  |  |  | 9 787,16 | 0,01 |
| Malaysischer Ringgit ...............................	MYR	2 257 470 |  |  |  |  | 497 378,30 | 0,36 |
| Philippinischer Peso ................................	PHP	563 101 |  |  |  |  | 10 042,30 | 0,01 |
| Singapur Dollar ....................................	SGD	85 792 |  |  |  |  | 56 691,34 | 0,04 |
| Thailändischer Baht ................................	THB	532 956 |  |  |  |  | 15 602,71 | 0,01 |
| Neue Taiwan Dollar ................................	TWD	2 982 949 |  |  |  |  | 89 589,20 | 0,07 |
| US-Dollar ........................................	USD	327 141 |  |  |  |  | 296 202,92 | 0,22 |
| Sonstige Vermögensgegenstände |  |  |  |  | 131 144,67 | 0,10 |
| Dividenden- / Ausschüttungsansprüche .................  |  |  |  |  | 105 389,77 | 0,08 |
| Zinsansprüche ....................................  |  |  |  |  | 241,63 | 0,00 |
| Forderungen aus der Überschreitung des „Expense Cap“ ..  |  |  |  |  | 25 513,27 | 0,02 |
| Summe der Vermögensgegenstände |  |  |  |  | 135 211 929,96 | 100,24 |
| Sonstige Verbindlichkeiten |  |  |  |  | -318 275,07 | -0,24 |
| Verbindlichkeiten aus Kostenpositionen ................  |  |  |  |  | -291 020,54 | -0,22 |
| Andere sonstige Verbindlichkeiten .....................  |  |  |  |  | -27 254,53 | -0,02 |
| Summe der Verbindlichkeiten |  |  |  |  | -318 275,07 | -0,24 |
| Fondsvermögen |  |  |  |  | 134 893 654,89 | 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 FC ........................................  | EUR | 166,33 |
| Klasse LC ........................................  | EUR | 155,78 |
| Klasse LD ........................................  | EUR | 131,77 |
| Klasse TFD .......................................  | EUR | 107,25 |
| Umlaufende Anteile Klasse FC ........................................  | Stück | 361 002,008 |
| Klasse LC ........................................  | Stück | 470 838,697 |
| Klasse LD ........................................  | Stück | 11 376,782 |
| Klasse TFD .......................................  | Stück | 20,000 |

Zusammensetzung des Referenzportfolios (gem. CSSF-Rundschreiben 11/512) MSCI AC Asia ex Japan High Dividend Yield in EUR
Potenzieller Risikobetrag für das Marktrisiko (gem. CSSF-Rundschreiben 11/512)
| kleinster potenzieller Risikobetrag .....................  | % | 49,430 |
| --- | --- | --- |
| größter potenzieller Risikobetrag ......................  | % | 108,342 |
| durchschnittlicher potenzieller Risikobetrag ..............  | % | 104,142 |

Die Risikokennzahlen wurden für den Zeitraum vom 1.1.2020 bis 4.2.2020 (Auflösungsstichtag) 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 0,00, 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 4.2.2020 (Auflösungsstichtag)
| Britisches Pfund .................  | GBP | 0,848044 | = | EUR | 1 |
| --- | --- | --- | --- | --- | --- |
| Hongkong Dollar .................  | HKD | 8,578981 | = | EUR | 1 |
| Indonesische Rupie ..............  | IDR | 15 142,010187 | = | EUR | 1 |
| Südkoreanischer Won ............  | KRW | 1 311,479212 | = | EUR | 1 |
| Malaysischer Ringgit .............  | MYR | 4,538737 | = | EUR | 1 |
| Philippinischer Peso ..............  | PHP | 56,072929 | = | EUR | 1 |
| Singapur Dollar ..................  | SGD | 1,513317 | = | EUR | 1 |
| Thailändischer Baht ..............  | THB | 34,157879 | = | EUR | 1 |
| Neue Taiwan Dollar ..............  | TWD | 33,295856 | = | EUR | 1 |
| US-Dollar ......................  | USD | 1,104450 | = | EUR | 1 |

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