# DWS Invest Green Bonds
DWS INVEST GREEN BONDS

### Performance of share classes (in EUR)
| Share class | ISIN | 6 months |
| --- | --- | --- |
| Class LD | LU1873225616 | -11.3% |
| Class FD | LU1873225533 | -11.2% |
| Class LC | LU1982200609 | -11.3% |
| Class ND | LU1914384265 | -11.5% |
| Class TFC | LU1956017633 | -11.2% |
| Class XD | LU1873225707 | -11.1% |

“BVI method” performance, i.e., excluding the initial sales charge.
Past performance is no guide to future results.	As of: June 30, 2022
The format used for complete dates
in security names in the investment
portfolio is “day/month/year”.
DWS Invest Green Bonds
| Statement of net assets as of June 30, 2022 |  |
| --- | --- |
|  | Amount in EUR | % of net assets |
| I. Assets |  |  |
| 1. Bonds (issuers) Companies | 164 772 047.27 | 97.92 |
| Central governments | 1 626 124.00 | 0.97 |
| Total bonds | 166 398 171.27 | 98.89 |
| 2. Derivatives | 319 850.04 | 0.19 |
| 3. Cash at bank | 2 393 342.60 | 1.42 |
| 4. Other assets | 857 219.87 | 0.51 |
| 5. Receivables from share certificate transactions | 62 301.79 | 0.04 |
| II. Liabilities |  |  |
| 1. Other liabilities | -1 468 906.91 | -0.88 |
| 2. Liabilities from share certificate transactions | -284 767.73 | -0.17 |
| III. Net assets | 168 277 210.93 | 100.00 |

Negligible rounding errors may have arisen due to the rounding of calculated percentages.
| Investment portfolio – June 30, 2022 |  |
| --- | --- |
| Security name | Count/ units/ | Quantity/ principal | Purchases/ additions | Sales/ disposals | Market price | Total market value in | % of net assets |
| currency | amount	in the reporting period	EUR |
| Securities traded on an exchange |  |  |  |  |  |  | 166 398 171.27 | 98.89 |
| Interest-bearing securities 2.50  % A2A SpA (MTN) 2022/2026...................  | EUR | 680 000 | 680 000 |  | % | 98.237 | 668 011.60 | 0.40 |
| 0.875 % ABN AMRO Bank NV (MTN) 2018/2025 .........  | EUR | 500 000 |  |  | % | 97.07 | 485 350.00 | 0.29 |
| 0.50  % ABN AMRO Bank NV (MTN) 2021/2029 .........  1.375 % Acciona Energia Financiacion Filiales SA (MTN) 2022/2032 ................................  | EUR EUR | 500 000 1 300 000 | 1 300 000 | 500 000 | % % | 80.897 81.699 | 404 485.00 1 062 087.00 | 0.24 0.63 |
| 0.25  % ACEA SpA (MTN) 2021/2030 .................  | EUR | 1 300 000 |  |  | % | 75.927 | 987 051.00 | 0.59 |
| 0.50  % AIB Group PLC (MTN) 2021/2027 * ............  | EUR | 1 110 000 |  |  | % | 86.654 | 961 859.40 | 0.57 |
| 3.625 % AIB Group PLC 2022/2026 *..................  | EUR | 730 000 | 730 000 |  | % | 99.954 | 729 664.20 | 0.43 |
| 0.375 % Air Liquide Finance SA (MTN) 2021/2031 ........  | EUR | 1 100 000 | 200 000 |  | % | 81.402 | 895 422.00 | 0.53 |
| 0.875 % Alliander NV (MTN) 2016/2026 ................  | EUR | 900 000 |  |  | % | 95.2 | 856 800.00 | 0.51 |
| 0.375 % Alliander NV (MTN) 2020/2030 ................  | EUR | 1 100 000 |  |  | % | 83.616 | 919 776.00 | 0.55 |
| 0.75  % AP Moller - Maersk A/S (MTN) 2021/2031 .......  | EUR | 1 000 000 | 630 000 |  | % | 79.858 | 798 580.00 | 0.47 |
| 0.00  % Apple, Inc. (MTN) 2019/2025 .................  | EUR | 400 000 |  |  | % | 94.236 | 376 944.00 | 0.22 |
| 0.50  % Apple, Inc. 2019/2031 .......................  | EUR | 280 000 |  |  | % | 84.044 | 235 323.20 | 0.14 |
| 5.80  % Assicurazioni Generali SpA (MTN) 2022/2032. . . . . 1.00 % Banco Bilbao Vizcaya Argentaria SA (MTN) 2019/2026 ................................  | EUR EUR | 530 000 1 800 000 | 530 000 |  | % % | 99.73 93.107 | 528 569.00 1 675 926.00 | 0.31 1.00 |
| 1.125 % Banco de Sabadell SA (MTN) 2020/2027 *.......  | EUR | 1 500 000 |  |  | % | 91.645 | 1 374 675.00 | 0.82 |
| 0.875 % Banco de Sabadell SA (MTN) 2021/2028 *.......  | EUR | 1 000 000 |  |  | % | 82.051 | 820 510.00 | 0.49 |
| 2.625 % Banco de Sabadell SA (MTN) 2022/2026 *.......  | EUR | 300 000 | 300 000 |  | % | 94.959 | 284 877.00 | 0.17 |
| 0.30  % Banco Santander SA (MTN) 2019/2026 .........  | EUR | 1 200 000 |  | 800 000 | % | 90.236 | 1 082 832.00 | 0.64 |
| 0.625 % Banco Santander SA (MTN) 2021/2029 * ........  | EUR | 900 000 |  |  | % | 83.949 | 755 541.00 | 0.45 |
| 1.375 % Bank of Ireland Group PLC (MTN) 2021/2031 * ...	EUR | 1 000 000 | 210 000 | % | 85.618 | 856 180.00 | 0.51 |
| 0.625 % Bankinter SA (MTN) 2020/2027	EUR | 1 400 000 |  | % | 85.255 | 1 193 570.00 | 0.71 |
| 2020/2027	EUR | 800 000 |  | % | 87.335 | 698 680.00 | 0.42 |
| 0.25  % Banque Federative du Credit Mutuel SA (MTN) |  |  |  |  |  |  |  |  |
| 2021/2028 ................................  | EUR | 800 000 |  | % | 86.049 | 688 392.00 | 0.41 |
| 1.00  % Bayerische Landesbank (MTN) 2021/2031 * .....  | EUR | 1 200 000 | 200 000 | % | 85.548 | 1 026 576.00 | 0.61 |
| 0.375 % Belfius Bank SA (MTN) 2021/2027 .............  | EUR | 1 100 000 |  | % | 87.381 | 961 191.00 | 0.57 |
| 0.50  % Berlin Hyp AG (MTN) 2019/2029 ..............  | EUR | 700 000 |  | % | 84.309 | 590 163.00 | 0.35 |
| 1.125 % BNP Paribas SA (MTN) 2019/2024 .............  | EUR | 600 000 |  | % | 97.407 | 584 442.00 | 0.35 |
| 0.50  % BNP Paribas SA (MTN) 2019/2026 *............  | EUR | 800 000 |  | % | 93.199 | 745 592.00 | 0.44 |
| 0.375 % BNP Paribas SA (MTN) 2020/2027 *............  0.00  % Bundesrepublik Deutschland Bundesanleihe (MTN) 2020/2030 ..........................  | EUR EUR | 600 000 1 000 000 | 500 000 | % % | 88.498 90.546 | 530 988.00 905 460.00 | 0.32 0.54 |
| 0.75 % Caisse Nationale de Reassurance Mutuelle Agricole Groupama (MTN) 2021/2028...........  | EUR | 1 000 000 |  |  | % | 81.269 | 812 690.00 | 0.48 |
| 0.375 % CaixaBank SA (MTN) 2020/2026 * .............  | EUR | 1 300 000 |  |  | % | 90.266 | 1 173 458.00 | 0.70 |
| 1.25  % Commerzbank AG (MTN) 2018/2023 ...........  | EUR | 600 000 |  |  | % | 98.727 | 592 362.00 | 0.35 |
| 3.00  % Commerzbank AG (MTN) 2022/2027 *..........  | EUR | 500 000 | 500 000 |  | % | 97.679 | 488 395.00 | 0.29 |
| 0.25  % Cooperatieve Rabobank UA (MTN) 2019/2026 ....  | EUR | 1 000 000 |  | 200 000 | % | 90.138 | 901 380.00 | 0.54 |
| 0.625 % Corp. Andina de Fomento (MTN) 2019/2026 .....  | EUR | 320 000 |  |  | % | 93.487 | 299 158.40 | 0.18 |
| 0.375 % Credit Agricole SA (MTN) 2019/2025 ...........  | EUR | 900 000 |  |  | % | 92.962 | 836 658.00 | 0.50 |
| 0.45  % Credit Suisse AG/London (MTN) 2020/2025 ......  | EUR | 800 000 |  |  | % | 93.452 | 747 616.00 | 0.44 |
| 0.75  % Danske Bank A/S (MTN) 2021/2029 * ..........  | EUR | 1 450 000 |  |  | % | 84.06 | 1 218 870.00 | 0.72 |
| 1.375 % Danske Bank A/S (MTN) 2022/2027 * ..........  | EUR | 740 000 | 740 000 |  | % | 93.127 | 689 139.80 | 0.41 |
| 1.375 % Deutsche Bank AG (MTN) 2020/2026 * .........  | EUR | 3 000 000 |  |  | % | 96.895 | 2 906 850.00 | 1.73 |
| 1.875 % Deutsche Bank AG (MTN) 2022/2028 * .........  | EUR | 700 000 | 700 000 |  | % | 90.298 | 632 086.00 | 0.38 |
| 3.25  % Deutsche Bank AG (MTN) 2022/2028 * .........  | EUR | 200 000 | 200 000 |  | % | 95.63 | 191 260.00 | 0.11 |
| 0.01  % Deutsche Kreditbank AG (MTN) 2021/2026 ......  | EUR | 1 110 000 |  |  | % | 92.394 | 1 025 573.40 | 0.61 |
| 0.25  % Deutsche Pfandbriefbank AG (MTN) 2021/2025...  | EUR | 1 300 000 | 400 000 |  | % | 90.519 | 1 176 747.00 | 0.70 |
| 2.25  % DIC Asset AG (MTN) 2021/2026 ...............  | EUR | 800 000 | 800 000 |  | % | 67.532 | 540 256.00 | 0.32 |
| 0.625 % Digital Intrepid Holding BV (MTN) 2021/2031 .....  | EUR | 1 500 000 |  |  | % | 70.605 | 1 059 075.00 | 0.63 |
| 1.25  % E.ON International Finance BV (MTN) 2017/2027..  | EUR | 1 500 000 |  |  | % | 92.449 | 1 386 735.00 | 0.82 |
| 0.35  % E.ON SE (MTN) 2019/2030 ...................  | EUR | 1 000 000 |  | 200 000 | % | 81.095 | 810 950.00 | 0.48 |
| 0.375 % E.ON SE (MTN) 2020/2027 ...................  | EUR | 1 000 000 |  | 800 000 | % | 88.167 | 881 670.00 | 0.52 |
| 1.625 % E.ON SE (MTN) 2022/2031 ...................  | EUR | 300 000 | 300 000 |  | % | 87.61 | 262 830.00 | 0.16 |
| 4.496 % EDP - Energias de Portugal SA 2019/2079 * .....  | EUR | 1 000 000 |  | 400 000 | % | 97.119 | 971 190.00 | 0.58 |
| 1.70  % EDP - Energias de Portugal SA 2020/2080 * .....  | EUR | 1 000 000 |  |  | % | 86.18 | 861 800.00 | 0.51 |
| 1.875 % EDP Finance BV (MTN) 2018/2025 .............  | EUR | 400 000 |  |  | % | 98.598 | 394 392.00 | 0.23 |
| 0.375 % EDP Finance BV (MTN) 2019/2026 .............  | EUR | 500 000 |  |  | % | 91.329 | 456 645.00 | 0.27 |
| 1.875 % EDP Finance BV (MTN) 2022/2029	EUR | 500 000 | 500 000 | % | 91.029 | 455 145.00 | 0.27 |
| 2019/2079 *	EUR | 1 000 000 |  | % | 78.382 | 783 820.00 | 0.47 |
| 1.875 % EnBW Energie Baden-Wuerttemberg AG |  |  |  |  |  |  |  |  |
| 2020/2080 * ..............................  | EUR | 900 000 | % | 84.63 | 761 670.00 | 0.45 |
| 1.875 % EnBW International Finance BV (MTN) |  |  |  |  |  |  |  |  |
| 2018/2033 ................................  | EUR | 300 000 |  | % | 81.288 | 243 864.00 | 0.15 |
| 1.50  % Enel Finance International NV (MTN) 2019/2025 ..  | EUR | 800 000 |  | % | 97.882 | 783 056.00 | 0.47 |
| 0.625 % Enexis Holding NV (MTN) 2020/2032 ...........  | EUR | 1 800 000 |  | % | 80.358 | 1 446 444.00 | 0.86 |
| 0.375 % Enexis Holding NV (MTN) 2021/2033 ...........  | EUR | 1 000 000 |  | % | 76.454 | 764 540.00 | 0.45 |
| 1.875 % Engie SA 2021/perpetual * ...................  | EUR | 600 000 | 1 300 000 | % | 69.283 | 415 698.00 | 0.25 |
| 0.25  % Equinix, Inc. (MTN) 2021/2027 ................  | EUR | 1 000 000 |  | % | 86.542 | 865 420.00 | 0.51 |

0.10  % Banque Federative du Credit Mutuel SA (MTN)
1.625 % EnBW Energie Baden-Wuerttemberg AG
| Security name | Count/ units/ currency | Quantity/ principal amount | Purchases/ additions in the | Sales/ disposals reporting period | Market price | Total market value in EUR | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 1.113 % Eurogrid GmbH (MTN) 2020/2032 .............  | EUR | 2 400 000 |  |  | % | 82.023 | 1 968 552.00 | 1.17 |
| 2.25  % Evonik Industries AG (MTN) 2022/2027 .........  | EUR | 1 000 000 | 1 000 000 |  | % | 95.154 | 951 540.00 | 0.57 |
| 0.25  % EWE AG (MTN) 2021/2028 ...................  | EUR | 1 400 000 | 350 000 |  | % | 83.547 | 1 169 658.00 | 0.70 |
| 2.375 % Faurecia SE (MTN) 2021/2029 ................  | EUR | 1 200 000 | 200 000 | 200 000 | % | 70.629 | 847 548.00 | 0.50 |
| 0.25 % FLUVIUS System Operator CVBA (MTN) |  |  |  |  |  |  |  |  |
| 2020/2030 ................................  | EUR | 1 700 000 |  |  | % | 76.63 | 1 302 710.00 | 0.77 |
| 0.875 % Gecina SA (MTN) 2022/2033..................  | EUR | 1 200 000 | 1 200 000 |  | % | 74.539 | 894 468.00 | 0.53 |
| 3.50  % Getlink SE (MTN) 2020/2025..................  | EUR | 1 600 000 |  |  | % | 95.868 | 1 533 888.00 | 0.91 |
| 1.575 % Iberdrola Finanzas SA 2021/perpetual * .........  | EUR | 600 000 |  |  | % | 78.702 | 472 212.00 | 0.28 |
| 1.375 % Iberdrola Finanzas SA (MTN) 2022/2032.........  | EUR | 500 000 | 500 000 |  | % | 86.763 | 433 815.00 | 0.26 |
| 1.875 % Iberdrola International BV 2017/perpetual * ......  | EUR | 1 300 000 | 300 000 |  | % | 98.171 | 1 276 223.00 | 0.76 |
| 1.45 % Iberdrola International BV 2021/perpetual * ......  | EUR | 500 000 |  | 300 000 | % | 83.112 | 415 560.00 | 0.25 |
| 1.825 % Iberdrola International BV 2021/perpetual * ......  | EUR | 800 000 |  |  | % | 73.214 | 585 712.00 | 0.35 |
| 2.50  % ING Groep NV (MTN) 2018/2030 ..............  | EUR | 1 700 000 | 200 000 |  | % | 92.934 | 1 579 878.00 | 0.94 |
| 0.875 % ING Groep NV (MTN) 2021/2032 * .............  | EUR | 600 000 |  |  | % | 84.15 | 504 900.00 | 0.30 |
| 2.125 % ING Groep NV (MTN) 2022/2026 * .............  | EUR | 600 000 | 600 000 |  | % | 97.428 | 584 568.00 | 0.35 |
| 1.50  % Intesa Sanpaolo SpA (MTN) 2019/2024 .........  | EUR | 1 400 000 |  |  | % | 99.154 | 1 388 156.00 | 0.83 |
| 1.50  % Iren SpA (MTN) 2017/2027 ...................  | EUR | 1 200 000 |  |  | % | 91.104 | 1 093 248.00 | 0.65 |
| 0.875 % Iren SpA (MTN) 2019/2029 ...................  | EUR | 500 000 |  | 200 000 | % | 81.625 | 408 125.00 | 0.24 |
| 0.375 % KBC Group NV (MTN) 2020/2027 * ............  | EUR | 2 200 000 | 400 000 |  | % | 90.433 | 1 989 526.00 | 1.18 |
| 0.50  % Koninklijke Philips NV (MTN) 2019/2026 .........  | EUR | 1 000 000 |  |  | % | 92.788 | 927 880.00 | 0.55 |
| 2.125 % Koninklijke Philips NV (MTN) 2022/2029 .........  | EUR | 630 000 | 630 000 |  | % | 93.472 | 588 873.60 | 0.35 |
| 1.375 % La Banque Postale SA (MTN) 2019/2029 ........  | EUR | 2 000 000 | 300 000 |  | % | 87.31 | 1 746 200.00 | 1.04 |
| 1.45  % La Poste SA (MTN) 2018/2028 ................  | EUR | 1 000 000 |  |  | % | 94.23 | 942 300.00 | 0.56 |
| 0.375 % Landesbank Baden-Wuerttemberg (MTN) |  |  |  |  |  |  |  |  |
| 2019/2024 ................................  | EUR | 400 000 |  |  | % | 96.458 | 385 832.00 | 0.23 |
| 0.375 % Landesbank Baden-Wuerttemberg (MTN) |  |  |  |  |  |  |  |  |
|  | 2019/2026 ................................  | EUR | 300 000 |  |  | % | 90.543 | 271 629.00 | 0.16 |
| 0.25 | % Landesbank Baden-Wuerttemberg (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2028 ................................  | EUR | 1 000 000 |  |  | % | 82.867 | 828 670.00 | 0.49 |
| 0.25 | % LeasePlan Corp. NV (MTN) 2021/2026 ..........  | EUR | 1 600 000 | 300 000 |  | % | 89.483 | 1 431 728.00 | 0.85 |
| 0.25 | % LeasePlan Corp., NV (MTN) 2021/2026 .........  | EUR | 600 000 |  |  | % | 87.596 | 525 576.00 | 0.31 |
| 1.00 | % Mediobanca Banca di Credito Finanziario SpA |  |  |  |  |  |  |  |  |
|  | (MTN) 2020/2027 ..........................  | EUR | 1 800 000 |  |  | % | 87.754 | 1 579 572.00 | 0.94 |
| 0.75 | % Mercedes-Benz Group AG (MTN) 2020/2030 .....  | EUR | 1 000 000 | 200 000 | 700 000 | % | 83.553 | 835 530.00 | 0.50 |
| 0.75 | % Mercedes-Benz Group AG (MTN) 2021/2033 .....  | EUR | 480 000 |  |  | % | 76.031 | 364 948.80 | 0.22 |
| 0.956 | % Mizuho Financial Group, Inc. (MTN) 2017/2024 ...  | EUR | 1 000 000 |  | 300 000 | % | 96.965 | 969 650.00 | 0.58 |
| 0.214 | % Mizuho Financial Group, Inc. (MTN) 2020/2025 ...  | EUR | 380 000 |  |  | % | 92.164 | 350 223.20 | 0.21 |
| 2.125 | % National Australia Bank (MTN) 2022/2028 .......  | EUR | 840 000 | 840 000 |  | % | 96.413 | 809 869.20 | 0.48 |
| 0.25 | % National Grid PLC (MTN) 2021/2028 ............  | EUR | 1 180 000 |  |  | % | 82.351 | 971 741.80 | 0.58 |
| 0.50 | % Nationale-Nederlanden Bank NV/The Netherlands |  |  |  |  |  |  |  |  |
|  | (MTN) 2021/2028 ..........................  | EUR | 1 100 000 | 700 000 |  | % | 83.626 | 919 886.00 | 0.55 |
| 0.875 | % Naturgy Finance BV (MTN) 2017/2025 ..........  | EUR | 1 000 000 |  |  | % | 95.746 | 957 460.00 | 0.57 |
| 4.50 | % Neinor Homes SA -Reg- (MTN) 2021/2026.......  | EUR | 800 000 |  | 800 000 | % | 81.775 | 654 200.00 | 0.39 |
| 0.375 | % Nordea Bank Abp (MTN) 2019/2026 ............  | EUR | 600 000 |  |  | % | 92.713 | 556 278.00 | 0.33 |
| 0.50 | % Nordea Bank Abp (MTN) 2021/2031 ............  | EUR | 610 000 |  |  | % | 78.559 | 479 209.90 | 0.28 |
| 1.125 | % Nordea Bank Abp (MTN) 2022/2027 ............  | EUR | 420 000 | 420 000 |  | % | 92.059 | 386 647.80 | 0.23 |
| 3.375 | % Novelis Sheet Ingot GmbH (MTN) 2021/2029 ....  | EUR | 1 200 000 |  |  | % | 79.386 | 952 632.00 | 0.57 |
| 0.625 | % OP Corporate Bank plc (MTN) 2022/2027........  | EUR | 1 200 000 | 1 200 000 |  | % | 87.578 | 1 050 936.00 | 0.62 |
| 0.375 | % OP Corporate Bank Plc (MTN) 2019/2024 .......  | EUR | 1 000 000 |  |  | % | 97.885 | 978 850.00 | 0.58 |
| 1.50 | % Orsted AS 2017/2029 .......................  | EUR | 1 000 000 |  |  | % | 92.185 | 921 850.00 | 0.55 |
| 2.25 | % Orsted AS 2017/3017 *......................  | EUR | 1 200 000 |  |  | % | 95.271 | 1 143 252.00 | 0.68 |
| 1.75 | % Orsted AS 2019/3019 *......................  | EUR | 700 000 |  |  | % | 84.752 | 593 264.00 | 0.35 |
| 2.875 | % Orsted AS (MTN) 2022/2033..................  | EUR | 450 000 | 450 000 |  | % | 97.232 | 437 544.00 | 0.26 |
| 0.625 | % PostNL NV (MTN) 2019/2026 .................  | EUR | 1 200 000 |  |  | % | 92.146 | 1 105 752.00 | 0.66 |
| 0.375 | % Prologis Euro Finance LLC (MTN) 2020/2028 .....  | EUR | 400 000 |  |  | % | 85.31 | 341 240.00 | 0.20 |
| 1.625 | % Prologis International Funding II SA (MTN) |  |  |  |  |  |  |  |  |
|  | 2020/2032 ................................  | EUR | 500 000 |  |  | % | 78.894 | 394 470.00 | 0.23 |
| 0.375 | % Raiffeisen Bank International AG (MTN) |  |  |  |  |  |  |  |  |
| 2019/2026 ................................  | EUR | 1 300 000 |  | % | 87.286 | 1 134 718.00 | 0.67 |
| 1.375 % Raiffeisen Bank International AG 2021/2033 * ....  | EUR | 500 000 | 500 000 | % | 70.803 | 354 015.00 | 0.21 |
| 0.375 % Red Electrica Financiaciones SAU (MTN) |  |  |  |  |  |  |  |
| 2020/2028 ................................  | EUR | 1 400 000 |  | % | 89.738 | 1 256 332.00 | 0.75 |
| 0.50 | % Red Electrica Financiaciones SAU (MTN) |  |  |  |  |  |  |  |  |
| 2021/2033 ................................  | EUR | 400 000 |  |  | % | 80.103 | 320 412.00 | 0.19 |
| 0.25  % Royal Bank of Canada (MTN) 2019/2024 ........  | EUR | 450 000 |  | 550 000 | % | 96.983 | 436 423.50 | 0.26 |
| 1.50  % Royal Schiphol Group NV (MTN) 2018/2030 ......  | EUR | 300 000 |  |  | % | 91.058 | 273 174.00 | 0.16 |
| 2.00  % Royal Schiphol Group NV (MTN) 2020/2029 ......  | EUR | 500 000 |  |  | % | 94.712 | 473 560.00 | 0.28 |
| 0.875 % Royal Schiphol Group NV (MTN) 2020/2032 ......  | EUR | 270 000 |  |  | % | 80.132 | 216 356.40 | 0.13 |
| 0.625 % RWE AG (MTN) 2021/2031 ...................  | EUR | 500 000 |  |  | % | 77.444 | 387 220.00 | 0.23 |
| 1.00  % RWE AG (MTN) 2021/2033 ...................  | EUR | 590 000 |  |  | % | 73.142 | 431 537.80 | 0.26 |
| 1.125 % SBB Treasury Oyj (MTN) 2021/2029 ............  | EUR | 610 000 |  |  | % | 60.238 | 367 451.80 | 0.22 |
| 1.25  % Segro Capital Sarl (MTN) 2022/2026 ............  | EUR | 410 000 | 410 000 |  | % | 93.115 | 381 771.50 | 0.23 |
| 0.75  % Skandinaviska Enskilda Banken AB (MTN) |  |  |  |  |  |  |  |  |
| 2022/2027 ................................  | EUR | 1 200 000 | 1 200 000 |  | % | 88.849 | 1 066 188.00 | 0.63 |
| 0.875 % SKF AB (MTN) 2019/2029 ....................  | EUR | 2 200 000 | 200 000 | 300 000 | % | 87.813 | 1 931 886.00 | 1.15 |
| 0.875 % Societe Generale SA (MTN) 2020/2028 * ........  | EUR | 1 300 000 |  | 500 000 | % | 87.184 | 1 133 392.00 | 0.67 |
| 0.625 % Societe Nationale SNCF SA (MTN) 2020/2030 ....  | EUR | 800 000 |  |  | % | 90.083 | 720 664.00 | 0.43 |
| 0.50  % Stedin Holding NV (MTN) 2019/2029 ...........  | EUR | 1 800 000 | 200 000 |  | % | 82.507 | 1 485 126.00 | 0.88 |
| 0.934 % Sumitomo Mitsui Financial Group, Inc. (MTN) |  |  |  |  |  |  |  |  |
| 2017/2024 ................................  | EUR | 1 100 000 |  |  | % | 96.945 | 1 066 395.00 | 0.63 |

| Security name | Count/ units/ currency | Quantity/ principal amount | Purchases/ additions in the | Sales/ disposals reporting period | Market price | Total market value in EUR | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 0.01  % Svenska Handelsbanken AB (MTN) 2020/2027 ...  | EUR | 1 200 000 |  |  | % | 85.444 | 1 025 328.00 | 0.61 |
| 0.30  % Swedbank AB (MTN) 2021/2027 * .............  | EUR | 560 000 |  |  | % | 89.947 | 503 703.20 | 0.30 |
| 0.375 % Swisscom Finance BV (MTN) 2020/2028 ........  | EUR | 1 300 000 |  |  | % | 88.491 | 1 150 383.00 | 0.68 |
| 1.75  % Talanx AG 2021/2042 * ......................  | EUR | 1 000 000 | 500 000 |  | % | 77.743 | 777 430.00 | 0.46 |
| 1.069 % Telefonica Emisiones SA (MTN) 2019/2024 ......  | EUR | 900 000 |  |  | % | 99.615 | 896 535.00 | 0.53 |
| 2.502 % Telefonica Europe BV 2020/perpetual * .........  | EUR | 2 300 000 |  |  | % | 82.037 | 1 886 851.00 | 1.12 |
| 1.375 % Telia Co. AB 2020/2081 * ....................  | EUR | 1 500 000 |  |  | % | 88.89 | 1 333 350.00 | 0.79 |
| 1.00  % TenneT Holding BV (MTN) 2016/2026 ..........  | EUR | 500 000 |  | 200 000 | % | 95.85 | 479 250.00 | 0.29 |
| 2.995 % TenneT Holding BV 2017/perpetual * ...........  | EUR | 1 500 000 |  |  | % | 96.462 | 1 446 930.00 | 0.86 |
| 1.50  % TenneT Holding BV (MTN) 2019/2039 ..........  | EUR | 800 000 |  |  | % | 74.424 | 595 392.00 | 0.35 |
| 2.374 % TenneT Holding BV 2020/perpetual * ...........  | EUR | 1 000 000 |  | 200 000 | % | 92.626 | 926 260.00 | 0.55 |
| 0.125 % TenneT Holding BV (MTN) 2020/2032 ..........  | EUR | 350 000 |  |  | % | 74.262 | 259 917.00 | 0.15 |
| 0.50  % TenneT Holding BV (MTN) 2020/2040 ..........  | EUR | 420 000 |  |  | % | 59.892 | 251 546.40 | 0.15 |
| 1.625 % TenneT Holding BV (MTN) 2022/2026 ..........  | EUR | 830 000 | 830 000 |  | % | 97.382 | 808 270.60 | 0.48 |
| 2.75  % TenneT Holding BV (MTN) 2022/2042 ..........  1.00  % Terna - Rete Elettrica Nazionale (MTN) 2019/2026 ................................  | EUR EUR | 870 000 1 000 000 | 870 000 |  | % % | 89.452 95.313 | 778 232.40 953 130.00 | 0.46 0.57 |
| 2.375 % Terna - Rete Elettrica Nazionale 2022/perpetual * . | EUR | 860 000 | 860 000 |  | % | 74.95 | 644 570.00 | 0.38 |
| 2.375 % UNIQA Insurance Group AG 2021/2041 * .......  | EUR | 1 200 000 | 900 000 |  | % | 75.405 | 904 860.00 | 0.54 |
| 0.125 % UPM-Kymmene Oyj (MTN) 2020/2028 ..........  | EUR | 1 800 000 |  | 500 000 | % | 82.001 | 1 476 018.00 | 0.88 |
| 0.50  % UPM-Kymmene Oyj (MTN) 2021/2031 ..........  | EUR | 1 010 000 |  |  | % | 75.486 | 762 408.60 | 0.45 |
| 2.25  % UPM-Kymmene Oyj (MTN) 2022/2029 ..........  | EUR | 450 000 | 450 000 |  | % | 93.323 | 419 953.50 | 0.25 |
| 0.50  % Vattenfall AB (MTN) 2019/2026 ...............  | EUR | 900 000 |  |  | % | 93.494 | 841 446.00 | 0.50 |
| 0.05  % Vattenfall AB (MTN) 2020/2025 ...............  | EUR | 1 500 000 |  |  | % | 93.6 | 1 404 000.00 | 0.83 |
| 0.125 % Vattenfall AB (MTN) 2021/2029 ...............  | EUR | 1 200 000 |  |  | % | 84.727 | 1 016 724.00 | 0.60 |
| 1.50  % Verbund AG (MTN) 2014/2024 ................  | EUR | 600 000 |  |  | % | 100.223 | 601 338.00 | 0.36 |
| 0.90  % Verbund AG 2021/2041 ......................  | EUR | 1 600 000 | 400 000 |  | % | 71.535 | 1 144 560.00 | 0.68 |
| 0.25  % VF Corp. (MTN) 2020/2028 ...................  | EUR | 1 600 000 | 500 000 |  | % | 85.19 | 1 363 040.00 | 0.81 |
| 0.00  % Vinci SA (MTN) 2020/2028 ...................  | EUR | 1 100 000 |  |  | % | 84.316 | 927 476.00 | 0.55 |
| 0.90  % Vodafone Group PLC (MTN) 2019/2026 .........  | EUR | 1 000 000 |  |  | % | 93.77 | 937 700.00 | 0.56 |
| 0.625 % Vonovia SE (MTN) 2021/2031 .................  2.875 % VZ Vendor Financing II BV -Reg- (MTN) 2020/2029 ................................  | EUR EUR | 1 600 000 2 100 000 | 300 000 |  | % % | 72.305 74.569 | 1 156 880.00 1 565 949.00 | 0.69 0.93 |
| 2.00  % ZF Finance GmbH (MTN) 2021/2027 ...........  | EUR | 2 000 000 | 400 000 |  | % | 77.397 | 1 547 940.00 | 0.92 |
| 1.70  % Barclays PLC (MTN) 2020/2026 * ..............  | GBP | 1 800 000 |  |  | % | 90.931 | 1 911 136.47 | 1.14 |
| 1.50  % CaixaBank SA (MTN) 2021/2026 * .............  | GBP | 500 000 |  |  | % | 90.023 | 525 570.18 | 0.31 |
| 2.875 % Enel Finance International NV (MTN) 2022/2029 ..  | GBP | 1 000 000 | 1 000 000 |  | % | 91.725 | 1 071 013.51 | 0.64 |
| 2.057 % NatWest Group PLC (MTN) 2021/2028 * ........  | GBP | 790 000 |  |  | % | 87.381 | 806 030.23 | 0.48 |
| 2.125 % Orsted A/S (MTN) 2019/2027 .................  | GBP | 700 000 |  |  | % | 94.662 | 773 714.87 | 0.46 |
| 2.50  % Orsted AS 2021/3021 *......................  | GBP | 500 000 |  | 200 000 | % | 68.111 | 397 644.05 | 0.24 |
| 1.125 % Realty Income Corp. (MTN) 2021/2027 .........  2.25 % Scottish Hydro Electric Transmission PLC (MTN) 2019/2035 ................................  | GBP GBP | 700 000 1 000 000 |  |  | % % | 87.502 78.694 | 715 192.99 918 858.95 | 0.43 0.55 |
| 2.47  % ABN AMRO Bank NV (MTN) 2021/2029 * .......  1.004 % Cooperatieve Rabobank UA -Reg- (MTN) 2020/2026 * ..............................  | USD USD | 1 000 000 500 000 |  | 500 000 | % % | 85.33 89.281 | 819 260.16 428 597.01 | 0.49 0.25 |
| 1.106 % Cooperatieve Rabobank UA -Reg- (MTN) 2021/2027 * ..............................  | USD | 1 000 000 |  |  | % | 88.295 | 847 727.36 | 0.50 |
| 1.71  % EDP Finance BV -Reg- (MTN) 2020/2028 ........  | USD | 700 000 |  |  | % | 85.45 | 574 288.60 | 0.34 |
| 4.625 % ING Groep NV -Reg- (MTN) 2018/2026..........  1.75  % Johnson Controls International Plc Via Tyco Fire & Security Finance SCA (MTN) 2020/2030 ...  | USD USD | 200 000 1 800 000 |  | 500 000 | % % | 100.037 81.616 | 192 092.65 1 410 483.14 | 0.11 0.84 |
| 2.703 % Micron Technology, Inc. 2021/2032 ............  | USD | 1 000 000 | 200 000 | 800 000 | % | 79.854 | 766 684.64 | 0.46 |
| 3.261 % Mizuho Financial Group, Inc. (MTN) 2022/2030 *..  | USD | 600 000 | 600 000 |  | % | 89.852 | 517 605.74 | 0.31 |
| 2.30  % Norfolk Southern Corp. (MTN) 2021/2031 .......  3.40 % NXP BV Via NXP Funding LLC Via NXP USA, Inc. (MTN) 2022/2030 ..........................  | USD USD | 1 000 000 1 800 000 | 1 800 000 | 340 000 | % % | 85.399 89.699 | 819 922.63 1 550 173.10 | 0.49 0.92 |
| 2.875 % PepsiCo, Inc. 2019/2049 .....................  2.20 % PNC Financial Services Group, Inc. (MTN) 2019/2024 ................................  | USD USD | 1 000 000 600 000 |  |  | % % | 79.58 96.955 | 764 053.95 558 523.63 | 0.45 0.33 |
| 1.50 % Prudential Financial, Inc. (MTN) 2020/2026. . . . . . . | USD | 1 000 000 |  |  | % | 91.721 | 880 620.66 | 0.52 |
| 1.15  % Royal Bank of Canada (MTN) 2021/2026 ........  | USD | 1 700 000 | 400 000 | 200 000 | % | 89.214 | 1 456 136.28 | 0.87 |
| 1.538 % Swedbank AB (MTN) 2021/2026...............  | USD | 1 000 000 |  | 500 000 | % | 90.036 | 864 442.84 | 0.51 |
| 2.15  % Toyota Motor Credit Corp. (MTN) 2020/2030 .....  | USD | 1 000 000 |  | 500 000 | % | 86.661 | 832 039.19 | 0.49 |
| 3.875 % Verizon Communications, Inc. (MTN) 2019/2029 ..  | USD | 1 000 000 |  |  | % | 96.862 | 929 979.81 | 0.55 |
| 1.50  % Verizon Communications, Inc. (MTN) 2020/2030 ..  | USD | 1 000 000 |  |  | % | 79.988 | 767 971.19 | 0.46 |
| 0.75  % Visa, Inc. (MTN) 2020/2027...................  | USD | 1 200 000 | 200 000 |  | % | 86.573 | 997 433.16 | 0.59 |
| 2.70  % Welltower, Inc. (MTN) 2019/2027..............  | USD | 1 400 000 |  |  | % | 92.346 | 1 241 269.87 | 0.74 |
| 3.85  % Welltower, Inc. (MTN) 2022/2032..............  | USD | 580 000 | 580 000 |  | % | 91.363 | 508 766.41 | 0.30 |
| Total securities portfolio |  |  |  |  |  |  | 166 398 171.27 | 98.89 |

| Count/ Security name	units/ | Quantity/ principal | Purchases/ additions | Sales/ disposals | Market price | Total market value in | % of net assets |
| --- | --- | --- | --- | --- | --- | --- |
|  | currency | amount | in the reporting period | EUR |  |
| Derivatives (Minus signs denote short positions) |  |  |  |  |  |
| Interest rate derivatives Receivables/payables |  |  |  | 696 584.70 | 0.41 |
| Interest rate futures Germany Federal Republic Bonds 5 year 09/2022 (MS) .....  | Count | -78 | 78 | 45 240.00 | 0.03 |
| Germany Federal Republic Notes 10 year 09/2022 (MS) ....  | Count | -169 | 169 | 385 320.00 | 0.23 |
| UK Treasury Notes 09/2022 (MS) ......................  | Count | -25 | 25 | 126 396.52 | 0.07 |
| US Treasury Notes 10 year Futures 09/2022 (MS) .........  | Count | -17 | 17 | 45 522.61 | 0.03 |
| US Treasury Notes 5 year Futures 09/2022 (MS) ..........  | Count | -15 | 15 | 17 551.96 | 0.01 |
| US Ultra Bond 09/2022 (MS)..........................  | Count | -14 | 14 | 76 553.61 | 0.04 |
| Currency derivatives Receivables/payables |  |  |  | -376 734.66 | -0.22 |
| Forward currency transactions |  |  |  |  |  |
| Forward currency transactions (short) |  |  |  |  |  |
| Open positions EUR/GBP 7.1 million ................................  |  |  |  | -68 544.76 | -0.04 |
| EUR/USD 19.9 million ...............................  |  |  |  | -308 189.90 | -0.18 |
| Cash at bank |  |  |  | 2 393 342.60 | 1.42 |
| Demand deposits at Depositary EUR deposits......................................  | EUR |  |  | 375 962.52 | 0.22 |
| Deposits in non-EU/EEA currencies |  |  |  |  |  |
| British pound .....................................  | GBP | 784 079 |  | 915 518.86 | 0.54 |
| U.S. dollar ........................................  | USD | 1 147 643 |  | 1 101 861.22 | 0.66 |
| Other assets |  |  |  | 857 219.87 | 0.51 |
| Interest receivable .................................  |  |  |  | 853 145.50 | 0.51 |
| Receivables from exceeding the expense cap ............  |  |  |  | 2 060.38 | 0.00 |
| Other receivables ..................................  |  |  |  | 2 013.99 | 0.00 |
| Receivables from share certificate transactions |  |  |  | 62 301.79 | 0.04 |
| Total assets ** |  |  |  | 170 407 620.23 | 101.27 |
| Other liabilities |  |  |  | -1 468 906.91 | -0.88 |
| Liabilities from cost items ............................  |  |  |  | -211 082.31 | -0.13 |
| Additional other liabilities.............................  |  |  |  | -1 257 824.60 | -0.75 |
| Liabilities from share certificate transactions |  |  |  | -284 767.73 | -0.17 |
| Total liabilities |  |  |  | -2 130 409.30 | -1.27 |
| Net assets |  |  |  | 168 277 210.93 | 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 FD .........................................  | EUR | 91.19 |
| Class LC .........................................  | EUR | 90.27 |
| Class LD .........................................  | EUR | 91.03 |
| Class ND .........................................  | EUR | 91.09 |
| Class TFC.........................................  | EUR | 91.76 |
| Class XD .........................................  | EUR | 91.35 |
| Number of shares outstanding Class FD .........................................  | Count | 100.000 |
| Class LC .........................................  | Count | 24 889.000 |
| Class LD .........................................  | Count | 746 946.277 |
| Class ND .........................................  | Count | 5 710.000 |
| Class TFC.........................................  | Count | 972 671.000 |
| Class XD .........................................  | Count | 90 416.000 |

Composition of the reference portfolio (according to CSSF circular 11/512)
70% ICE BofA Green Bond 100% EUR Hedged Index, 20% ICE BofA Global Corporate 100% EUR Hedged Index, 10% ICE BofA Global High Yield Index (HW00), 100% EUR Hedged
Market risk exposure (value-at-risk) (according to CSSF circular 11/512)
| Lowest market risk exposure .........................  | % | 38.822 |
| --- | --- | --- |
| Highest market risk exposure .........................  | % | 111.809 |
| Average market risk exposure.........................  | % | 74.718 |

The values-at-risk were calculated for the period from January 1, 2022, through June 30, 2022, 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 0.4, 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 57 232 929.90 as of the reporting date. Does not include any forward currency transactions entered into for currency hedging purposes at the level of the share classes.
 Market abbreviations	 Futures exchanges
MS = Morgan Stanley Bank AG
Contracting parties for forward currency transactions
Deutsche Bank AG.
 Exchange rates (indirect quotes)	
As of June 30, 2022
| British pound	GBP | 0.856432 | = EUR | 1 |
| --- | --- | --- | --- |
| U.S. dollar	USD | 1.041549 | = 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.
 Footnotes	
* Floating interest rate.
** Does not include positions with a negative balance, if such exist.

Translation (ENDE, 2022-06-30):
# DWS Invest Green Bonds
DWS INVEST GREEN BONDS

### Wertentwicklung der Anteilklassen (in EUR)
| Anteilklasse | ISIN | 6 Monate |
| --- | --- | --- |
| Klasse LD | LU1873225616 | -11,3% |
| Klasse FD | LU1873225533 | -11,2% |
| Klasse LC | LU1982200609 | -11,3% |
| Klasse ND | LU1914384265 | -11,5% |
| Klasse TFC | LU1956017633 | -11,2% |
| Klasse XD | LU1873225707 | -11,1% |

Wertentwicklung nach BVI-Methode, d. h. ohne Berücksichtigung des Ausgabeaufschlages.
Wertentwicklungen der Vergangenheit ermöglichen keine Prognose für die Zukunft.	Stand: 30.6.2022
DWS Invest Green Bonds
| Vermögensübersicht zum 30.6.2022 |  |
| --- | --- |
|  | Bestand in EUR | %-Anteil am Fondsvermögen |
| I. Vermögensgegenstände |  |  |
| 1. Anleihen (Emittenten) Unternehmen | 164 772 047,27 | 97,92 |
| Zentralregierungen | 1 626 124,00 | 0,97 |
| Summe Anleihen | 166 398 171,27 | 98,89 |
| 2. Derivate | 319 850,04 | 0,19 |
| 3. Bankguthaben | 2 393 342,60 | 1,42 |
| 4. Sonstige Vermögensgegenstände | 857 219,87 | 0,51 |
| 5. Forderungen aus Anteilscheingeschäften | 62 301,79 | 0,04 |
| II. Verbindlichkeiten |  |  |
| 1. Sonstige Verbindlichkeiten | -1 468 906,91 | -0,88 |
| 2. Verbindlichkeiten aus Anteilscheingeschäften | -284 767,73 | -0,17 |
| III. Fondsvermögen | 168 277 210,93 | 100,00 |

Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein.
| Vermögensaufstellung zum 30.6.2022 |  |
| --- | --- |
|  | Stück bzw. | Nominalbetrag | Käufe/ | Verkäufe/ | Kurs | Kurswert | %-Anteil am |
| Wertpapierbezeichnung | Anteile bzw. | bzw. | Zugänge | Abgänge |  | in | Fonds- |
|  | Währung | Bestand | im Berichtszeitraum |  |  | EUR | vermögen |
| Börsengehandelte Wertpapiere |  |  |  |  |  | 166 398 171,27 | 98,89 |
| Verzinsliche Wertpapiere 2,50  % A2A SpA (MTN) 2022/2026  .................  | EUR | 680 000 | 680 000 | % | 98,237 | 668 011,60 | 0,40 |
| 0,875 % ABN AMRO Bank NV (MTN) 2018/2025  .......  | EUR | 500 000 |  | % | 97,07 | 485 350,00 | 0,29 |
| 0,50  % ABN AMRO Bank NV (MTN) 2021/2029  .......  1,375 % Acciona Energia Financiacion Filiales SA (MTN) 2022/2032 ..............................  | EUR EUR | 500 000 1 300 000 | 500 000 1 300 000 | % % | 80,897 81,699 | 404 485,00 1 062 087,00 | 0,24 0,63 |
| 0,25  % ACEA SpA (MTN) 2021/2030 ................  | EUR | 1 300 000 |  | % | 75,927 | 987 051,00 | 0,59 |
| 0,50  % AIB Group PLC (MTN) 2021/2027 * ...........  | EUR | 1 110 000 |  | % | 86,654 | 961 859,40 | 0,57 |
| 3,625 % AIB Group PLC 2022/2026 * .................  | EUR | 730 000 | 730 000 | % | 99,954 | 729 664,20 | 0,43 |
| 0,375 % Air Liquide Finance SA (MTN) 2021/2031  ......  | EUR | 1 100 000 | 200 000 | % | 81,402 | 895 422,00 | 0,53 |
| 0,875 % Alliander NV (MTN) 2016/2026  ..............  | EUR | 900 000 |  | % | 95,2 | 856 800,00 | 0,51 |
| 0,375 % Alliander NV (MTN) 2020/2030  ..............  | EUR | 1 100 000 |  | % | 83,616 | 919 776,00 | 0,55 |
| 0,75  % AP Moller - Maersk A/S (MTN) 2021/2031  .....  | EUR | 1 000 000 | 630 000 | % | 79,858 | 798 580,00 | 0,47 |
| 0,00  % Apple, Inc. (MTN) 2019/2025 ................  | EUR | 400 000 |  | % | 94,236 | 376 944,00 | 0,22 |
| 0,50  % Apple, Inc. 2019/2031  .....................  | EUR | 280 000 |  | % | 84,044 | 235 323,20 | 0,14 |
| 5,80 % Assicurazioni Generali SpA (MTN) 2022/2032 ... 1,00 % Banco Bilbao Vizcaya Argentaria SA (MTN) 2019/2026  ..............................  | EUR EUR | 530 000 1 800 000 | 530 000 | % % | 99,73 93,107 | 528 569,00 1 675 926,00 | 0,31 1,00 |
| 1,125 % Banco de Sabadell SA (MTN) 2020/2027 * ......  | EUR | 1 500 000 |  | % | 91,645 | 1 374 675,00 | 0,82 |
| 0,875 % Banco de Sabadell SA (MTN) 2021/2028 * ......  | EUR | 1 000 000 |  | % | 82,051 | 820 510,00 | 0,49 |
| 2,625 % Banco de Sabadell SA (MTN) 2022/2026 * ......  | EUR | 300 000 | 300 000 | % | 94,959 | 284 877,00 | 0,17 |
| 0,30  % Banco Santander SA (MTN) 2019/2026 ........  | EUR | 1 200 000 | 800 000 | % | 90,236 | 1 082 832,00 | 0,64 |
| 0,625 % Banco Santander SA (MTN) 2021/2029 * .......  | EUR | 900 000 |  | % | 83,949 | 755 541,00 | 0,45 |
| 1,375 % Bank of Ireland Group PLC (MTN) 2021/2031 * ..	EUR | 1 000 000 | 210 000 | % | 85,618 | 856 180,00 | 0,51 |
| 0,625 % Bankinter SA (MTN) 2020/2027	EUR | 1 400 000 |  | % | 85,255 | 1 193 570,00 | 0,71 |
| 2020/2027	EUR | 800 000 |  | % | 87,335 | 698 680,00 | 0,42 |
| 0,25  % Banque Federative du Credit Mutuel SA (MTN) |  |  |  |  |  |  |  |  |  |
| 2021/2028  ..............................  | EUR | 800 000 |  | % | 86,049 | 688 392,00 | 0,41 |
| 1,00  % Bayerische Landesbank (MTN) 2021/2031 * ....  | EUR | 1 200 000 | 200 000 | % | 85,548 | 1 026 576,00 | 0,61 |
| 0,375 % Belfius Bank SA (MTN) 2021/2027  ...........  | EUR | 1 100 000 |  | % | 87,381 | 961 191,00 | 0,57 |
| 0,50  % Berlin Hyp AG (MTN) 2019/2029 .............  | EUR | 700 000 |  | % | 84,309 | 590 163,00 | 0,35 |
| 1,125 % BNP Paribas SA (MTN) 2019/2024  ...........  | EUR | 600 000 |  | % | 97,407 | 584 442,00 | 0,35 |
| 0,50  % BNP Paribas SA (MTN) 2019/2026 *  ..........  | EUR | 800 000 |  | % | 93,199 | 745 592,00 | 0,44 |
| 0,375 % BNP Paribas SA (MTN) 2020/2027 *  ..........  0,00  % Bundesrepublik Deutschland Bundesanleihe (MTN) 2020/2030 .........................  | EUR EUR | 600 000 1 000 000 | 500 000 | % % | 88,498 90,546 | 530 988,00 905 460,00 | 0,32 0,54 |
| 0,75 % Caisse Nationale de Reassurance Mutuelle |  |  |  |  |  |  |  |  |  |
| Agricole Groupama (MTN) 2021/2028 .........  | EUR | 1 000 000 |  |  | % | 81,269 | 812 690,00 | 0,48 |
| 0,375 % CaixaBank SA (MTN) 2020/2026 * ............  | EUR | 1 300 000 |  |  | % | 90,266 | 1 173 458,00 | 0,70 |
| 1,25  % Commerzbank AG (MTN) 2018/2023 ..........  | EUR | 600 000 |  |  | % | 98,727 | 592 362,00 | 0,35 |
| 3,00  % Commerzbank AG (MTN) 2022/2027 * .........  | EUR | 500 000 | 500 000 |  | % | 97,679 | 488 395,00 | 0,29 |
| 0,25  % Cooperatieve Rabobank UA (MTN) 2019/2026  ..  | EUR | 1 000 000 |  | 200 000 | % | 90,138 | 901 380,00 | 0,54 |
| 0,625 % Corp. Andina de Fomento (MTN) 2019/2026 ....  | EUR | 320 000 |  |  | % | 93,487 | 299 158,40 | 0,18 |
| 0,375 % Credit Agricole SA (MTN) 2019/2025 ..........  | EUR | 900 000 |  |  | % | 92,962 | 836 658,00 | 0,50 |
| 0,45  % Credit Suisse AG/London (MTN) 2020/2025  ....  | EUR | 800 000 |  |  | % | 93,452 | 747 616,00 | 0,44 |
| 0,75  % Danske Bank A/S (MTN) 2021/2029 * .........  | EUR | 1 450 000 |  |  | % | 84,06 | 1 218 870,00 | 0,72 |
| 1,375 % Danske Bank A/S (MTN) 2022/2027 * .........  | EUR | 740 000 | 740 000 |  | % | 93,127 | 689 139,80 | 0,41 |
| 1,375 % Deutsche Bank AG (MTN) 2020/2026 * ........  | EUR | 3 000 000 |  |  | % | 96,895 | 2 906 850,00 | 1,73 |
| 1,875 % Deutsche Bank AG (MTN) 2022/2028 * ........  | EUR | 700 000 | 700 000 |  | % | 90,298 | 632 086,00 | 0,38 |
| 3,25  % Deutsche Bank AG (MTN) 2022/2028 * ........  | EUR | 200 000 | 200 000 |  | % | 95,63 | 191 260,00 | 0,11 |
| 0,01  % Deutsche Kreditbank AG (MTN) 2021/2026  ....  | EUR | 1 110 000 |  |  | % | 92,394 | 1 025 573,40 | 0,61 |
| 0,25  % Deutsche Pfandbriefbank AG (MTN) 2021/2025  . | EUR | 1 300 000 | 400 000 |  | % | 90,519 | 1 176 747,00 | 0,70 |
| 2,25  % DIC Asset AG (MTN) 2021/2026  .............  | EUR | 800 000 | 800 000 |  | % | 67,532 | 540 256,00 | 0,32 |
| 0,625 % Digital Intrepid Holding BV (MTN) 2021/2031  ...  | EUR | 1 500 000 |  |  | % | 70,605 | 1 059 075,00 | 0,63 |
| 1,25  % E.ON International Finance BV (MTN) 2017/2027 | EUR | 1 500 000 |  |  | % | 92,449 | 1 386 735,00 | 0,82 |
| 0,35  % E.ON SE (MTN) 2019/2030  .................  | EUR | 1 000 000 |  | 200 000 | % | 81,095 | 810 950,00 | 0,48 |
| 0,375 % E.ON SE (MTN) 2020/2027  .................  | EUR | 1 000 000 |  | 800 000 | % | 88,167 | 881 670,00 | 0,52 |
| 1,625 % E.ON SE (MTN) 2022/2031  .................  | EUR | 300 000 | 300 000 |  | % | 87,61 | 262 830,00 | 0,16 |
| 4,496 % EDP - Energias de Portugal SA 2019/2079 * ....  | EUR | 1 000 000 |  | 400 000 | % | 97,119 | 971 190,00 | 0,58 |
| 1,70  % EDP - Energias de Portugal SA 2020/2080 * ....  | EUR | 1 000 000 |  |  | % | 86,18 | 861 800,00 | 0,51 |
| 1,875 % EDP Finance BV (MTN) 2018/2025  ...........  | EUR | 400 000 |  |  | % | 98,598 | 394 392,00 | 0,23 |
| 0,375 % EDP Finance BV (MTN) 2019/2026  ...........  | EUR | 500 000 |  |  | % | 91,329 | 456 645,00 | 0,27 |
| 1,875 % EDP Finance BV (MTN) 2022/2029	EUR | 500 000 | 500 000 | % | 91,029 | 455 145,00 | 0,27 |
| 2019/2079 *	EUR | 1 000 000 |  | % | 78,382 | 783 820,00 | 0,47 |
| 1,875 % EnBW Energie Baden-Wuerttemberg AG |  |  |  |  |  |  |  |  |  |
| 2020/2080 * .............................  | EUR | 900 000 | % | 84,63 | 761 670,00 | 0,45 |
| 1,875 % EnBW International Finance BV (MTN) |  |  |  |  |  |  |  |  |  |
| 2018/2033  ..............................  | EUR | 300 000 |  | % | 81,288 | 243 864,00 | 0,15 |
| 1,50  % Enel Finance International NV (MTN) 2019/2025 . | EUR | 800 000 |  | % | 97,882 | 783 056,00 | 0,47 |
| 0,625 % Enexis Holding NV (MTN) 2020/2032  .........  | EUR | 1 800 000 |  | % | 80,358 | 1 446 444,00 | 0,86 |
| 0,375 % Enexis Holding NV (MTN) 2021/2033  .........  | EUR | 1 000 000 |  | % | 76,454 | 764 540,00 | 0,45 |
| 1,875 % Engie SA 2021/perpetual * ..................  | EUR | 600 000 | 1 300 000 | % | 69,283 | 415 698,00 | 0,25 |
| 0,25  % Equinix, Inc. (MTN) 2021/2027  ..............  | EUR | 1 000 000 |  | % | 86,542 | 865 420,00 | 0,51 |

0,10  % Banque Federative du Credit Mutuel SA (MTN)
1,625 % EnBW Energie Baden-Wuerttemberg AG
| Wertpapierbezeichnung | Stück bzw. Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Währung	Bestand	im Berichtszeitraum	EUR	vermögen |
| 1,113 % Eurogrid GmbH (MTN) 2020/2032 ............  | EUR | 2 400 000 |  |  | % | 82,023 | 1 968 552,00 | 1,17 |
| 2,25  % Evonik Industries AG (MTN) 2022/2027  .......  | EUR | 1 000 000 | 1 000 000 |  | % | 95,154 | 951 540,00 | 0,57 |
| 0,25  % EWE AG (MTN) 2021/2028  .................  | EUR | 1 400 000 | 350 000 |  | % | 83,547 | 1 169 658,00 | 0,70 |
| 2,375 % Faurecia SE (MTN) 2021/2029 ...............  | EUR | 1 200 000 | 200 000 | 200 000 | % | 70,629 | 847 548,00 | 0,50 |
| 0,25 % FLUVIUS System Operator CVBA (MTN) |  |  |  |  |  |  |  |  |
| 2020/2030  ..............................  | EUR | 1 700 000 |  |  | % | 76,63 | 1 302 710,00 | 0,77 |
| 0,875 % Gecina SA (MTN) 2022/2033  ................  | EUR | 1 200 000 | 1 200 000 |  | % | 74,539 | 894 468,00 | 0,53 |
| 3,50  % Getlink SE (MTN) 2020/2025  ................  | EUR | 1 600 000 |  |  | % | 95,868 | 1 533 888,00 | 0,91 |
| 1,575 % Iberdrola Finanzas SA 2021/perpetual * ........  | EUR | 600 000 |  |  | % | 78,702 | 472 212,00 | 0,28 |
| 1,375 % Iberdrola Finanzas SA (MTN) 2022/2032 .......  | EUR | 500 000 | 500 000 |  | % | 86,763 | 433 815,00 | 0,26 |
| 1,875 % Iberdrola International BV 2017/perpetual * .....  | EUR | 1 300 000 | 300 000 |  | % | 98,171 | 1 276 223,00 | 0,76 |
| 1,45 % Iberdrola International BV 2021/perpetual * .....  | EUR | 500 000 |  | 300 000 | % | 83,112 | 415 560,00 | 0,25 |
| 1,825 % Iberdrola International BV 2021/perpetual * .....  | EUR | 800 000 |  |  | % | 73,214 | 585 712,00 | 0,35 |
| 2,50  % ING Groep NV (MTN) 2018/2030 .............  | EUR | 1 700 000 | 200 000 |  | % | 92,934 | 1 579 878,00 | 0,94 |
| 0,875 % ING Groep NV (MTN) 2021/2032 * ............  | EUR | 600 000 |  |  | % | 84,15 | 504 900,00 | 0,30 |
| 2,125 % ING Groep NV (MTN) 2022/2026 * ............  | EUR | 600 000 | 600 000 |  | % | 97,428 | 584 568,00 | 0,35 |
| 1,50  % Intesa Sanpaolo SpA (MTN) 2019/2024 ........  | EUR | 1 400 000 |  |  | % | 99,154 | 1 388 156,00 | 0,83 |
| 1,50  % Iren SpA (MTN) 2017/2027  .................  | EUR | 1 200 000 |  |  | % | 91,104 | 1 093 248,00 | 0,65 |
| 0,875 % Iren SpA (MTN) 2019/2029  .................  | EUR | 500 000 |  | 200 000 | % | 81,625 | 408 125,00 | 0,24 |
| 0,375 % KBC Group NV (MTN) 2020/2027 * ...........  | EUR | 2 200 000 | 400 000 |  | % | 90,433 | 1 989 526,00 | 1,18 |
| 0,50  % Koninklijke Philips NV (MTN) 2019/2026  .......  | EUR | 1 000 000 |  |  | % | 92,788 | 927 880,00 | 0,55 |
| 2,125 % Koninklijke Philips NV (MTN) 2022/2029  .......  | EUR | 630 000 | 630 000 |  | % | 93,472 | 588 873,60 | 0,35 |
| 1,375 % La Banque Postale SA (MTN) 2019/2029  ......  | EUR | 2 000 000 | 300 000 |  | % | 87,31 | 1 746 200,00 | 1,04 |
| 1,45  % La Poste SA (MTN) 2018/2028  ..............  | EUR | 1 000 000 |  |  | % | 94,23 | 942 300,00 | 0,56 |
| 0,375 % Landesbank Baden-Wuerttemberg (MTN) |  |  |  |  |  |  |  |  |
| 2019/2024  ..............................  | EUR | 400 000 |  |  | % | 96,458 | 385 832,00 | 0,23 |
| 0,375 % Landesbank Baden-Wuerttemberg (MTN) |  |  |  |  |  |  |  |  |  |
|  | 2019/2026  ..............................  | EUR | 300 000 |  |  | % | 90,543 | 271 629,00 | 0,16 |
| 0,25 | % Landesbank Baden-Wuerttemberg (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2028  ..............................  | EUR | 1 000 000 |  |  | % | 82,867 | 828 670,00 | 0,49 |
| 0,25 | % LeasePlan Corp. NV (MTN) 2021/2026  ........  | EUR | 1 600 000 | 300 000 |  | % | 89,483 | 1 431 728,00 | 0,85 |
| 0,25 | % LeasePlan Corp., NV (MTN) 2021/2026 ........  | EUR | 600 000 |  |  | % | 87,596 | 525 576,00 | 0,31 |
| 1,00 | % Mediobanca Banca di Credito Finanziario SpA |  |  |  |  |  |  |  |  |
|  | (MTN) 2020/2027 .........................  | EUR | 1 800 000 |  |  | % | 87,754 | 1 579 572,00 | 0,94 |
| 0,75 | % Mercedes-Benz Group AG (MTN) 2020/2030  ...  | EUR | 1 000 000 | 200 000 | 700 000 | % | 83,553 | 835 530,00 | 0,50 |
| 0,75 | % Mercedes-Benz Group AG (MTN) 2021/2033  ...  | EUR | 480 000 |  |  | % | 76,031 | 364 948,80 | 0,22 |
| 0,956 | % Mizuho Financial Group, Inc. (MTN) 2017/2024 . . | EUR | 1 000 000 |  | 300 000 | % | 96,965 | 969 650,00 | 0,58 |
| 0,214 | % Mizuho Financial Group, Inc. (MTN) 2020/2025 . . | EUR | 380 000 |  |  | % | 92,164 | 350 223,20 | 0,21 |
| 2,125 | % National Australia Bank (MTN) 2022/2028 ......  | EUR | 840 000 | 840 000 |  | % | 96,413 | 809 869,20 | 0,48 |
| 0,25 | % National Grid PLC (MTN) 2021/2028  ..........  | EUR | 1 180 000 |  |  | % | 82,351 | 971 741,80 | 0,58 |
| 0,50 | % Nationale-Nederlanden Bank NV/The Netherlands |  |  |  |  |  |  |  |  |
|  | (MTN) 2021/2028 .........................  | EUR | 1 100 000 | 700 000 |  | % | 83,626 | 919 886,00 | 0,55 |
| 0,875 | % Naturgy Finance BV (MTN) 2017/2025  ........  | EUR | 1 000 000 |  |  | % | 95,746 | 957 460,00 | 0,57 |
| 4,50 | % Neinor Homes SA -Reg- (MTN) 2021/2026  .....  | EUR | 800 000 |  | 800 000 | % | 81,775 | 654 200,00 | 0,39 |
| 0,375 | % Nordea Bank Abp (MTN) 2019/2026  ..........  | EUR | 600 000 |  |  | % | 92,713 | 556 278,00 | 0,33 |
| 0,50 | % Nordea Bank Abp (MTN) 2021/2031  ..........  | EUR | 610 000 |  |  | % | 78,559 | 479 209,90 | 0,28 |
| 1,125 | % Nordea Bank Abp (MTN) 2022/2027  ..........  | EUR | 420 000 | 420 000 |  | % | 92,059 | 386 647,80 | 0,23 |
| 3,375 | % Novelis Sheet Ingot GmbH (MTN) 2021/2029 ...  | EUR | 1 200 000 |  |  | % | 79,386 | 952 632,00 | 0,57 |
| 0,625 | % OP Corporate Bank plc (MTN) 2022/2027  ......  | EUR | 1 200 000 | 1 200 000 |  | % | 87,578 | 1 050 936,00 | 0,62 |
| 0,375 | % OP Corporate Bank Plc (MTN) 2019/2024  ......  | EUR | 1 000 000 |  |  | % | 97,885 | 978 850,00 | 0,58 |
| 1,50 | % Orsted AS 2017/2029  .....................  | EUR | 1 000 000 |  |  | % | 92,185 | 921 850,00 | 0,55 |
| 2,25 | % Orsted AS 2017/3017 *  ....................  | EUR | 1 200 000 |  |  | % | 95,271 | 1 143 252,00 | 0,68 |
| 1,75 | % Orsted AS 2019/3019 *  ....................  | EUR | 700 000 |  |  | % | 84,752 | 593 264,00 | 0,35 |
| 2,875 | % Orsted AS (MTN) 2022/2033  ................  | EUR | 450 000 | 450 000 |  | % | 97,232 | 437 544,00 | 0,26 |
| 0,625 | % PostNL NV (MTN) 2019/2026  ...............  | EUR | 1 200 000 |  |  | % | 92,146 | 1 105 752,00 | 0,66 |
| 0,375 | % Prologis Euro Finance LLC (MTN) 2020/2028  ...  | EUR | 400 000 |  |  | % | 85,31 | 341 240,00 | 0,20 |
| 1,625 | % Prologis International Funding II SA (MTN) |  |  |  |  |  |  |  |  |
|  | 2020/2032  ..............................  | EUR | 500 000 |  |  | % | 78,894 | 394 470,00 | 0,23 |
| 0,375 | % Raiffeisen Bank International AG (MTN) |  |  |  |  |  |  |  |  |  |
| 2019/2026  ..............................  | EUR | 1 300 000 |  | % | 87,286 | 1 134 718,00 | 0,67 |
| 1,375 % Raiffeisen Bank International AG 2021/2033 * ...  | EUR | 500 000 | 500 000 | % | 70,803 | 354 015,00 | 0,21 |
| 0,375 % Red Electrica Financiaciones SAU (MTN) |  |  |  |  |  |  |  |
| 2020/2028  ..............................  | EUR | 1 400 000 |  | % | 89,738 | 1 256 332,00 | 0,75 |
| 0,50 | % Red Electrica Financiaciones SAU (MTN) |  |  |  |  |  |  |  |  |  |
| 2021/2033  ..............................  | EUR | 400 000 |  |  | % | 80,103 | 320 412,00 | 0,19 |
| 0,25  % Royal Bank of Canada (MTN) 2019/2024 .......  | EUR | 450 000 |  | 550 000 | % | 96,983 | 436 423,50 | 0,26 |
| 1,50  % Royal Schiphol Group NV (MTN) 2018/2030  ....  | EUR | 300 000 |  |  | % | 91,058 | 273 174,00 | 0,16 |
| 2,00  % Royal Schiphol Group NV (MTN) 2020/2029  ....  | EUR | 500 000 |  |  | % | 94,712 | 473 560,00 | 0,28 |
| 0,875 % Royal Schiphol Group NV (MTN) 2020/2032  ....  | EUR | 270 000 |  |  | % | 80,132 | 216 356,40 | 0,13 |
| 0,625 % RWE AG (MTN) 2021/2031  .................  | EUR | 500 000 |  |  | % | 77,444 | 387 220,00 | 0,23 |
| 1,00  % RWE AG (MTN) 2021/2033  .................  | EUR | 590 000 |  |  | % | 73,142 | 431 537,80 | 0,26 |
| 1,125 % SBB Treasury Oyj (MTN) 2021/2029  ..........  | EUR | 610 000 |  |  | % | 60,238 | 367 451,80 | 0,22 |
| 1,25  % Segro Capital Sarl (MTN) 2022/2026  ..........  | EUR | 410 000 | 410 000 |  | % | 93,115 | 381 771,50 | 0,23 |
| 0,75  % Skandinaviska Enskilda Banken AB (MTN) |  |  |  |  |  |  |  |  |
| 2022/2027  ..............................  | EUR | 1 200 000 | 1 200 000 |  | % | 88,849 | 1 066 188,00 | 0,63 |
| 0,875 % SKF AB (MTN) 2019/2029  ..................  | EUR | 2 200 000 | 200 000 | 300 000 | % | 87,813 | 1 931 886,00 | 1,15 |
| 0,875 % Societe Generale SA (MTN) 2020/2028 * .......  | EUR | 1 300 000 |  | 500 000 | % | 87,184 | 1 133 392,00 | 0,67 |
| 0,625 % Societe Nationale SNCF SA (MTN) 2020/2030  ..  | EUR | 800 000 |  |  | % | 90,083 | 720 664,00 | 0,43 |
| 0,50  % Stedin Holding NV (MTN) 2019/2029 ..........  | EUR | 1 800 000 | 200 000 |  | % | 82,507 | 1 485 126,00 | 0,88 |
| 0,934 % Sumitomo Mitsui Financial Group, Inc. (MTN) |  |  |  |  |  |  |  |  |
| 2017/2024  ..............................  | EUR | 1 100 000 |  |  | % | 96,945 | 1 066 395,00 | 0,63 |

| Wertpapierbezeichnung | Stück bzw. Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Währung	Bestand	im Berichtszeitraum	EUR	vermögen |
| 0,01  % Svenska Handelsbanken AB (MTN) 2020/2027 ..  | EUR | 1 200 000 |  |  | % | 85,444 | 1 025 328,00 | 0,61 |
| 0,30  % Swedbank AB (MTN) 2021/2027 * ............  | EUR | 560 000 |  |  | % | 89,947 | 503 703,20 | 0,30 |
| 0,375 % Swisscom Finance BV (MTN) 2020/2028  ......  | EUR | 1 300 000 |  |  | % | 88,491 | 1 150 383,00 | 0,68 |
| 1,75  % Talanx AG 2021/2042 * .....................  | EUR | 1 000 000 | 500 000 |  | % | 77,743 | 777 430,00 | 0,46 |
| 1,069 % Telefonica Emisiones SA (MTN) 2019/2024  ....  | EUR | 900 000 |  |  | % | 99,615 | 896 535,00 | 0,53 |
| 2,502 % Telefonica Europe BV 2020/perpetual * ........  | EUR | 2 300 000 |  |  | % | 82,037 | 1 886 851,00 | 1,12 |
| 1,375 % Telia Co. AB 2020/2081 * ...................  | EUR | 1 500 000 |  |  | % | 88,89 | 1 333 350,00 | 0,79 |
| 1,00  % TenneT Holding BV (MTN) 2016/2026 .........  | EUR | 500 000 |  | 200 000 | % | 95,85 | 479 250,00 | 0,29 |
| 2,995 % TenneT Holding BV 2017/perpetual * ..........  | EUR | 1 500 000 |  |  | % | 96,462 | 1 446 930,00 | 0,86 |
| 1,50  % TenneT Holding BV (MTN) 2019/2039 .........  | EUR | 800 000 |  |  | % | 74,424 | 595 392,00 | 0,35 |
| 2,374 % TenneT Holding BV 2020/perpetual * ..........  | EUR | 1 000 000 |  | 200 000 | % | 92,626 | 926 260,00 | 0,55 |
| 0,125 % TenneT Holding BV (MTN) 2020/2032 .........  | EUR | 350 000 |  |  | % | 74,262 | 259 917,00 | 0,15 |
| 0,50  % TenneT Holding BV (MTN) 2020/2040 .........  | EUR | 420 000 |  |  | % | 59,892 | 251 546,40 | 0,15 |
| 1,625 % TenneT Holding BV (MTN) 2022/2026 .........  | EUR | 830 000 | 830 000 |  | % | 97,382 | 808 270,60 | 0,48 |
| 2,75  % TenneT Holding BV (MTN) 2022/2042 .........  1,00  % Terna - Rete Elettrica Nazionale (MTN) 2019/2026  ..............................  | EUR EUR | 870 000 1 000 000 | 870 000 |  | % % | 89,452 95,313 | 778 232,40 953 130,00 | 0,46 0,57 |
| 2,375 % Terna - Rete Elettrica Nazionale 2022/perpetual * | EUR | 860 000 | 860 000 |  | % | 74,95 | 644 570,00 | 0,38 |
| 2,375 % UNIQA Insurance Group AG 2021/2041 * ......  | EUR | 1 200 000 | 900 000 |  | % | 75,405 | 904 860,00 | 0,54 |
| 0,125 % UPM-Kymmene Oyj (MTN) 2020/2028  ........  | EUR | 1 800 000 |  | 500 000 | % | 82,001 | 1 476 018,00 | 0,88 |
| 0,50  % UPM-Kymmene Oyj (MTN) 2021/2031  ........  | EUR | 1 010 000 |  |  | % | 75,486 | 762 408,60 | 0,45 |
| 2,25  % UPM-Kymmene Oyj (MTN) 2022/2029  ........  | EUR | 450 000 | 450 000 |  | % | 93,323 | 419 953,50 | 0,25 |
| 0,50  % Vattenfall AB (MTN) 2019/2026 ..............  | EUR | 900 000 |  |  | % | 93,494 | 841 446,00 | 0,50 |
| 0,05  % Vattenfall AB (MTN) 2020/2025 ..............  | EUR | 1 500 000 |  |  | % | 93,6 | 1 404 000,00 | 0,83 |
| 0,125 % Vattenfall AB (MTN) 2021/2029 ..............  | EUR | 1 200 000 |  |  | % | 84,727 | 1 016 724,00 | 0,60 |
| 1,50  % Verbund AG (MTN) 2014/2024  ..............  | EUR | 600 000 |  |  | % | 100,223 | 601 338,00 | 0,36 |
| 0,90  % Verbund AG 2021/2041  ....................  | EUR | 1 600 000 | 400 000 |  | % | 71,535 | 1 144 560,00 | 0,68 |
| 0,25  % VF Corp. (MTN) 2020/2028  .................  | EUR | 1 600 000 | 500 000 |  | % | 85,19 | 1 363 040,00 | 0,81 |
| 0,00  % Vinci SA (MTN) 2020/2028 ..................  | EUR | 1 100 000 |  |  | % | 84,316 | 927 476,00 | 0,55 |
| 0,90  % Vodafone Group PLC (MTN) 2019/2026  .......  | EUR | 1 000 000 |  |  | % | 93,77 | 937 700,00 | 0,56 |
| 0,625 % Vonovia SE (MTN) 2021/2031  ...............  2,875 % VZ Vendor Financing II BV -Reg- (MTN) 2020/2029  ..............................  | EUR EUR | 1 600 000 2 100 000 | 300 000 |  | % % | 72,305 74,569 | 1 156 880,00 1 565 949,00 | 0,69 0,93 |
| 2,00  % ZF Finance GmbH (MTN) 2021/2027 ..........  | EUR | 2 000 000 | 400 000 |  | % | 77,397 | 1 547 940,00 | 0,92 |
| 1,70  % Barclays PLC (MTN) 2020/2026 * .............  | GBP | 1 800 000 |  |  | % | 90,931 | 1 911 136,47 | 1,14 |
| 1,50  % CaixaBank SA (MTN) 2021/2026 * ............  | GBP | 500 000 |  |  | % | 90,023 | 525 570,18 | 0,31 |
| 2,875 % Enel Finance International NV (MTN) 2022/2029 . | GBP | 1 000 000 | 1 000 000 |  | % | 91,725 | 1 071 013,51 | 0,64 |
| 2,057 % NatWest Group PLC (MTN) 2021/2028 * .......  | GBP | 790 000 |  |  | % | 87,381 | 806 030,23 | 0,48 |
| 2,125 % Orsted A/S (MTN) 2019/2027  ...............  | GBP | 700 000 |  |  | % | 94,662 | 773 714,87 | 0,46 |
| 2,50  % Orsted AS 2021/3021 *  ....................  | GBP | 500 000 |  | 200 000 | % | 68,111 | 397 644,05 | 0,24 |
| 1,125 % Realty Income Corp. (MTN) 2021/2027 ........ 2,25 % Scottish Hydro Electric Transmission PLC (MTN) 2019/2035  ..............................  | GBP GBP | 700 000 1 000 000 |  |  | % % | 87,502 78,694 | 715 192,99 918 858,95 | 0,43 0,55 |
| 2,47  % ABN AMRO Bank NV (MTN) 2021/2029 * ......  1,004 % Cooperatieve Rabobank UA -Reg- (MTN) 2020/2026 * .............................  | USD USD | 1 000 000 500 000 |  | 500 000 | % % | 85,33 89,281 | 819 260,16 428 597,01 | 0,49 0,25 |
| 1,106 % Cooperatieve Rabobank UA -Reg- (MTN) 2021/2027 * .............................  | USD | 1 000 000 |  |  | % | 88,295 | 847 727,36 | 0,50 |
| 1,71  % EDP Finance BV -Reg- (MTN) 2020/2028  ......  | USD | 700 000 |  |  | % | 85,45 | 574 288,60 | 0,34 |
| 4,625 % ING Groep NV -Reg- (MTN) 2018/2026  ........  1,75  % Johnson Controls International Plc Via Tyco Fire & Security Finance SCA (MTN) 2020/2030 ..  | USD USD | 200 000 1 800 000 |  | 500 000 | % % | 100,037 81,616 | 192 092,65 1 410 483,14 | 0,11 0,84 |
| 2,703 % Micron Technology, Inc. 2021/2032  ..........  | USD | 1 000 000 | 200 000 | 800 000 | % | 79,854 | 766 684,64 | 0,46 |
| 3,261 % Mizuho Financial Group, Inc. (MTN) 2022/2030 *	USD | 600 000 | 600 000 |  | % | 89,852 | 517 605,74 | 0,31 |
| 2,30  % Norfolk Southern Corp. (MTN) 2021/2031	USD | 1 000 000 |  | 340 000 | % | 85,399 | 819 922,63 | 0,49 |
| 3,40  % NXP BV Via NXP Funding LLC Via NXP USA, Inc. (MTN) 2022/2030 .........................  | USD | 1 800 000 | 1 800 000 |  | % | 89,699 | 1 550 173,10 | 0,92 |
| 2,875 % PepsiCo, Inc. 2019/2049  ...................  2,20 % PNC Financial Services Group, Inc. (MTN) 2019/2024 ..............................  | USD USD | 1 000 000 600 000 |  |  | % % | 79,58 96,955 | 764 053,95 558 523,63 | 0,45 0,33 |
| 1,50  % Prudential Financial, Inc. (MTN) 2020/2026 .....  | USD | 1 000 000 |  |  | % | 91,721 | 880 620,66 | 0,52 |
| 1,15  % Royal Bank of Canada (MTN) 2021/2026 .......  | USD | 1 700 000 | 400 000 | 200 000 | % | 89,214 | 1 456 136,28 | 0,87 |
| 1,538 % Swedbank AB (MTN) 2021/2026  .............  | USD | 1 000 000 |  | 500 000 | % | 90,036 | 864 442,84 | 0,51 |
| 2,15  % Toyota Motor Credit Corp. (MTN) 2020/2030  ...  | USD | 1 000 000 |  | 500 000 | % | 86,661 | 832 039,19 | 0,49 |
| 3,875 % Verizon Communications, Inc. (MTN) 2019/2029 | USD | 1 000 000 |  |  | % | 96,862 | 929 979,81 | 0,55 |
| 1,50  % Verizon Communications, Inc. (MTN) 2020/2030 | USD | 1 000 000 |  |  | % | 79,988 | 767 971,19 | 0,46 |
| 0,75  % Visa, Inc. (MTN) 2020/2027 .................  | USD | 1 200 000 | 200 000 |  | % | 86,573 | 997 433,16 | 0,59 |
| 2,70  % Welltower, Inc. (MTN) 2019/2027  ............  | USD | 1 400 000 |  |  | % | 92,346 | 1 241 269,87 | 0,74 |
| 3,85  % Welltower, Inc. (MTN) 2022/2032  ............  | USD | 580 000 | 580 000 |  | % | 91,363 | 508 766,41 | 0,30 |
| Summe Wertpapiervermögen |  |  |  |  |  |  | 166 398 171,27 | 98,89 |

| Wertpapierbezeichnung | Stück bzw. Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Währung	Bestand	im Berichtszeitraum	EUR	vermögen |
| Derivate (Bei den mit Minus gekennzeichneten Beständen handelt es sich um verkaufte Positionen) |  |  |  |
| Zins-Derivate Forderungen/Verbindlichkeiten |  | 696 584,70 | 0,41 |
| Zinsterminkontrakte Germany Federal Republic Bonds 5 year 09/2022 (MS) ....	Stück	-78 | 78 | 45 240,00 | 0,03 |
| Germany Federal Republic Notes 10 year 09/2022 (MS) ....	Stück	-169 | 169 | 385 320,00 | 0,23 |
| UK Treasury Notes 09/2022 (MS) .....................	Stück	-25 | 25 | 126 396,52 | 0,07 |
| US Treasury Notes 10 year Futures 09/2022 (MS) ........	Stück	-17 | 17 | 45 522,61 | 0,03 |
| US Treasury Notes 5 year Futures 09/2022 (MS) .........	Stück	-15 | 15 | 17 551,96 | 0,01 |
| US Ultra Bond 09/2022 (MS) .........................	Stück	-14 | 14 | 76 553,61 | 0,04 |
| Devisen-Derivate Forderungen/Verbindlichkeiten |  | -376 734,66 | -0,22 |
| Devisentermingeschäfte |  |  |  |
| Devisentermingeschäfte (Verkauf) |  |  |  |
| Offene Positionen EUR/GBP 7,1 Mio. .................................  |  | -68 544,76 | -0,04 |
| EUR/USD 19,9 Mio. ................................  |  | -308 189,90 | -0,18 |
| Bankguthaben |  | 2 393 342,60 | 1,42 |
| Verwahrstelle (täglich fällig) EUR-Guthaben	EUR |  | 375 962,52 | 0,22 |
| Guthaben in Nicht-EU/EWR-Währungen |  |  |  |
| Britisches Pfund ...................................	GBP	784 079 |  | 915 518,86 | 0,54 |
| US-Dollar ........................................	USD	1 147 643 |  | 1 101 861,22 | 0,66 |
| Sonstige Vermögensgegenstände |  | 857 219,87 | 0,51 |
| Zinsansprüche .....................................  |  | 853 145,50 | 0,51 |
| Forderungen aus der Überschreitung des „Expense Cap“ ..  |  | 2 060,38 | 0,00 |
| Sonstige Ansprüche ................................  |  | 2 013,99 | 0,00 |
| Forderungen aus Anteilscheingeschäften |  | 62 301,79 | 0,04 |
| Summe der Vermögensgegenstände ** |  | 170 407 620,23 | 101,27 |
| Sonstige Verbindlichkeiten |  | -1 468 906,91 | -0,88 |
| Verbindlichkeiten aus Kostenpositionen ................  |  | -211 082,31 | -0,13 |
| Andere sonstige Verbindlichkeiten .....................  |  | -1 257 824,60 | -0,75 |
| Verbindlichkeiten aus Anteilscheingeschäften |  | -284 767,73 | -0,17 |
| Summe der Verbindlichkeiten |  | -2 130 409,30 | -1,27 |
| Fondsvermögen |  | 168 277 210,93 | 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 FD ........................................  | EUR | 91,19 |
| Klasse LC ........................................  | EUR | 90,27 |
| Klasse LD ........................................  | EUR | 91,03 |
| Klasse ND ........................................  | EUR | 91,09 |
| Klasse TFC .......................................  | EUR | 91,76 |
| Klasse XD ........................................  | EUR | 91,35 |
| Umlaufende Anteile Klasse FD ........................................  | Stück | 100,000 |
| Klasse LC ........................................  | Stück | 24 889,000 |
| Klasse LD ........................................  | Stück | 746 946,277 |
| Klasse ND ........................................  | Stück | 5 710,000 |
| Klasse TFC .......................................  | Stück | 972 671,000 |
| Klasse XD ........................................  | Stück | 90 416,000 |

Zusammensetzung des Referenzportfolios (gem. CSSF-Rundschreiben 11/512)
70% ICE BofA Green Bond 100% EUR Hedged Index, 20% ICE BofA Global Corporate 100% EUR Hedged Index, 10% ICE BofA Global High Yield Index (HW00), 100% EUR Hedged
Potenzieller Risikobetrag für das Marktrisiko (gem. CSSF-Rundschreiben 11/512)
| kleinster potenzieller Risikobetrag .....................  | % | 38,822 |
| --- | --- | --- |
| größter potenzieller Risikobetrag ......................  | % | 111,809 |
| durchschnittlicher potenzieller Risikobetrag ..............  | % | 74,718 |

Die Risikokennzahlen wurden für den Zeitraum vom 1.1.2022 bis 30.6.2022 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 0,4, wobei zur Berechnung die Summe der Nominalbeträge der Derivate in Relation zum Fondsvermögen gesetzt wurde (Nominalwertmethode).
Das durch Derivate erzielte zugrunde liegende 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 57 232 929,90. Ohne Berücksichtigung gegebenenfalls auf Ebene von Anteilklassen zum Zwecke der Währungsabsicherung abgeschlossener Devisentermingeschäfte.
 Marktschlüssel	 Terminbörsen
MS = Morgan Stanley Bank AG
Vertragspartner der Devisentermingeschäfte
Deutsche Bank AG.
 Devisenkurse (in Mengennotiz)	
per 30.6.2022
| Britisches Pfund	GBP | 0,856432 | = EUR | 1 |
| --- | --- | --- | --- |
| US-Dollar	USD | 1,041549 | = 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.
 Fußnoten	
* Variabler Zinssatz.
** Beinhaltet, sofern vorhanden, keine Positionen mit negativem Bestand.