# DWS Invest ESG Climate Tech
DWS INVEST ESG CLIMATE TECH

### Performance of share classes (in euro)
| Share class | ISIN | 6 months |
| --- | --- | --- |
| Class LD | LU1863261647 | 2.3% |
| Class FC | LU1863264070 | 2.7% |
| Class LC | LU1863264153 | 2.3% |
| Class NC | LU1914384182 | 2.1% |
| Class PFC | LU2066748570 | -3.6% 1 |
| Class TFC | LU1863261720 | 2.7% |
| Class TFD | LU1885667318 | 2.7% |
| Class XC | LU1863261993 | 3.0% |
| Class USD FC 2 | LU1885667409 | 2.7% |
| Class USD LC 2 | LU1885667581 | 2.3% |
| Class USD TFC 2 | LU1885667664 | 2.7% |

1 
Class PFC launched on February 7, 2020
2 
in USD
“BVI method” performance, i.e., excluding the initial sales charge.
Past performance is no guide to future results.	As of: June 30, 2020
The format used for complete dates
in security names in the investment
portfolio is “day/month/year”.
DWS Invest ESG Climate Tech
| Statement of net assets as of June 30, 2020 |  |
| --- | --- |
|  | Amount in EUR | % of net assets |
| I. Assets |  |  |
| 1. Equities (sectors): Information Technology | 16 237 627.99 | 14.33 |
| Consumer Discretionaries | 18 698 062.67 | 16.49 |
| Energy | 18 359 370.76 | 16.20 |
| Consumer Staples | 6 109 407.78 | 5.41 |
| Financials | 8 757 314.50 | 7.73 |
| Basic Materials | 8 396 619.07 | 7.40 |
| Industrials | 23 487 848.03 | 20.72 |
| Utilities | 5 194 890.37 | 4.58 |
| Total equities | 105 241 141.17 | 92.86 |
| 2. Cash at bank | 7 810 299.98 | 6.89 |
| 3. Other assets | 1 935 965.31 | 1.71 |
| 4. Receivables from share certificate transactions | 258 452.19 | 0.23 |
| II. Liabilities |  |  |
| 1. Other liabilities | -1 877 551.84 | - 1.66 |
| 2. Liabilities from share certificate transactions | -32 638.75 | - 0.03 |
|  |  |  |
| III. Net assets | 113 335 668.06 | 100.00 |
| Negligible rounding errors may have arisen due to the rounding of calculated percentages. |  |  |

| Investment portfolio – June 30, 2020 |  |
| --- | --- |
|  | Count/ | Quantity/ | Purchases/ | Sales/ | Currency | Market price | Total market | % of |
| Security name | units/ currency | principal amount | additions in the | disposals reporting period |  |  | value in EUR | net assets |
| Securities traded on an exchange |  |  |  |  |  |  | 105 241 141.17 | 92.86 |
| Equities Geberit AG........................................  | Count | 1 530 | 639 |  | CHF | 472.8 | 679 381.72 | 0.60 |
| Landis+Gyr Group AG ...............................  | Count | 10 260 | 10 260 |  | CHF | 60.95 | 587 308.16 | 0.52 |
| ALK-Abello A/S ....................................  | Count | 2 758 | 845 |  | DKK | 1 772 | 655 758.74 | 0.58 |
| Chr Hansen Holding A/S .............................  | Count | 11 312 | 11 312 |  | DKK | 682.8 | 1 036 379.98 | 0.91 |
| Orsted A/S........................................  | Count | 12 009 | 5 014 |  | DKK | 766.8 | 1 235 591.91 | 1.09 |
| Vestas Wind Systems A/S ...........................  | Count | 6 265 | 5 156 | 4 480 | DKK | 676 | 568 268.88 | 0.50 |
| Akasol AG ........................................  | Count | 7 107 |  |  | EUR | 40.615 | 288 650.81 | 0.26 |
| Alfen Beheer BV ...................................  | Count | 26 780 | 26 780 |  | EUR | 36.15 | 968 097.00 | 0.85 |
| Evonik Industries AG ................................  | Count | 53 248 | 30 115 |  | EUR | 22.45 | 1 195 417.60 | 1.06 |
| Kingspan Group PLC ................................  | Count | 24 963 | 12 578 | 5 160 | EUR | 56.75 | 1 416 650.25 | 1.25 |
| Koninklijke DSM NV ................................  | Count | 15 906 | 6 971 |  | EUR | 122.55 | 1 949 280.30 | 1.72 |
| Koninklijke Philips NV ...............................  | Count | 42 432 | 22 348 |  | EUR | 41.225 | 1 749 259.20 | 1.54 |
| Neoen SA ........................................  | Count | 25 238 |  |  | EUR | 36.2 | 913 615.60 | 0.81 |
| Neste Oyj ........................................  | Count | 97 211 | 39 184 |  | EUR | 34.47 | 3 350 863.17 | 2.96 |
| Nexans SA........................................  | Count | 71 018 | 53 438 |  | EUR | 41.72 | 2 962 870.96 | 2.61 |
| Nordex SE ........................................  | Count | 97 806 | 47 171 |  | EUR | 8.725 | 853 357.35 | 0.75 |
| Rational AG .......................................  | Count | 1 050 | 1 050 |  | EUR | 497.4 | 522 270.00 | 0.46 |
| Schneider Electric SE ...............................  | Count | 32 049 | 14 955 |  | EUR | 98.06 | 3 142 724.94 | 2.77 |
| Solaria Energia y Medio Ambiente SA ..................  | Count | 75 687 | 47 477 | 38 010 | EUR | 11.29 | 854 506.23 | 0.75 |
| Umicore SA .......................................  | Count | 22 903 | 11 643 |  | EUR | 41.58 | 952 306.74 | 0.84 |
| UPM-Kymmene Oyj ................................  | Count | 17 788 | 7 428 |  | EUR | 25.67 | 456 617.96 | 0.40 |
| Verbund AG .......................................  | Count | 31 107 | 12 989 |  | EUR | 39.38 | 1 224 993.66 | 1.08 |
| John Laing Group PLC ..............................  | Count | 601 280 | 292 301 |  | GBP | 3.475 | 2 292 995.36 | 2.02 |
| Smurfit Kappa Group PLC ............................  | Count | 47 691 | 32 808 |  | GBP | 26.5 | 1 387 007.81 | 1.22 |
| Panasonic Corp.....................................  | Count | 152 400 | 152 400 |  | JPY | 939.6 | 1 186 269.96 | 1.05 |
| Sakata Seed Corp. ..................................  | Count | 48 255 | 11 900 |  | JPY | 3 440 | 1 375 169.78 | 1.21 |
| Shimano, Inc.......................................  | Count | 6 963 | 4 000 |  | JPY | 20 750 | 1 196 933.59 | 1.06 |
| Mowi ASA ........................................  | Count | 61 138 | 48 034 |  | NOK | 181.85 | 1 021 821.43 | 0.90 |
| NEL ASA .........................................  | Count | 294 711 | 575 490 | 654 160 | NOK | 18.825 | 509 896.23 | 0.45 |
| Scatec Solar ASA...................................  | Count | 49 740 | 20 770 |  | NOK | 156.9 | 717 264.27 | 0.63 |
| Storebrand ASA....................................  | Count | 142 021 | 87 602 |  | NOK | 49.39 | 644 676.83 | 0.57 |
| Tomra Systems ASA ................................  | Count | 15 481 | 6 968 | 7 130 | NOK | 351.2 | 499 693.83 | 0.44 |
| Nobina AB ........................................  | Count | 75 627 | 75 627 |  | SEK | 55.5 | 400 648.47 | 0.35 |
| Acuity Brands, Inc. .................................  | Count | 8 590 | 8 590 |  | USD | 95.93 | 735 256.77 | 0.65 |
| Agilent Technologies, Inc. ............................  | Count | 33 517 | 13 996 |  | USD | 87.35 | 2 612 278.48 | 2.31 |
| American Water Works Co., Inc........................  | Count | 17 610 | 7 354 |  | USD | 126.13 | 1 981 842.67 | 1.75 |
| Aptiv PLC.........................................  | Count | 18 682 | 10 177 |  | USD | 75.3 | 1 255 190.86 | 1.11 |
| Autodesk, Inc. .....................................  | Count | 2 802 | 3 995 | 6 290 | USD | 232.76 | 581 926.19 | 0.51 |
| Biohaven Pharmaceutical Holding Co., Ltd ...............  | Count | 11 886 | 9 446 | 3 510 | USD | 70.84 | 751 286.70 | 0.66 |
| Carrier Global Corp. .................................  | Count | 54 720 | 54 720 |  | USD | 21.59 | 1 054 120.25 | 0.93 |
| Covanta Holding Corp................................  | Count | 71 936 | 37 906 |  | USD | 9.27 | 595 000.65 | 0.53 |
| Danaher Corp. .....................................  | Count | 20 462 | 8 544 |  | USD | 172.43 | 3 148 127.64 | 2.78 |
| Darling Ingredients, Inc. .............................  | Count | 166 292 | 84 834 |  | USD | 23.75 | 3 523 922.87 | 3.11 |
| Ecolab, Inc. .......................................  | Count | 8 170 | 5 088 |  | USD | 194.74 | 1 419 608.68 | 1.25 |
| EnerSys ..........................................  | Count | 15 253 | 8 513 |  | USD | 63.68 | 866 661.99 | 0.77 |
| Enphase Energy, Inc.................................  | Count | 23 650 | 23 650 |  | USD | 47.88 | 1 010 361.32 | 0.89 |
| Equinix, Inc. .......................................          | Count | 3 269 | 1 365 |  | USD | 693.88 | 2 023 907.76 | 1.79 |
| First Solar, Inc......................................  | Count | 36 310 | 37 225 | 12 938 | USD | 49.37 | 1 599 487.32 | 1.41 |
| Hannon Armstrong Sustainable Infrastructure Capital, Inc ...  | Count | 54 620 | 54 620 |  | USD | 27.85 | 1 357 276.47 | 1.20 |
| Itron, Inc. .........................................           | Count | 45 918 | 26 588 |  | USD | 64.97 | 2 661 872.53 | 2.35 |
| Marsh & McLennan Cos, Inc. .........................  | Count | 30 441 | 13 864 |  | USD | 105.82 | 2 874 207.36 | 2.54 |
| Maxim Integrated Products, Inc........................  | Count | 27 896 | 11 649 |  | USD | 60.57 | 1 507 616.67 | 1.33 |
| Microsoft Corp. ....................................  | Count | 27 399 | 13 322 |  | USD | 199.69 | 4 881 827.77 | 4.31 |
| Nikola Corp. .......................................  | Count | 14 640 | 26 030 | 11 390 | USD | 64.82 | 846 723.33 | 0.75 |
| NVIDIA Corp. ......................................  | Count | 3 546 | 2 859 | 3 300 | USD | 379.26 | 1 199 961.18 | 1.06 |
| NXP Semiconductors NV.............................  | Count | 15 040 | 9 780 |  | USD | 113 | 1 516 413.72 | 1.34 |
| Ormat Technologies, Inc. ............................  | Count | 13 310 | 5 558 |  | USD | 63.36 | 752 462.13 | 0.66 |
| Renewable Energy Group, Inc. ........................  | Count | 31 510 | 31 510 |  | USD | 23.62 | 664 078.96 | 0.59 |
| ServiceMaster Global Holdings, Inc. ....................  | Count | 91 326 | 61 206 |  | USD | 35.47 | 2 890 327.46 | 2.55 |
| Solaredge Technologies, Inc. .........................  | Count | 29 180 | 14 485 |  | USD | 137.52 | 3 580 490.91 | 3.16 |
| Sunrun, Inc. .......................................          | Count | 49 299 | 29 654 |  | USD | 19.48 | 856 877.00 | 0.76 |
| SVB Financial Group ................................  | Count | 5 290 | 5 290 | 1 376 | USD | 209.94 | 990 928.43 | 0.87 |
| Synopsys, Inc. .....................................  | Count | 10 926 | 6 546 |  | USD | 191.62 | 1 868 071.33 | 1.65 |
| TE Connectivity Ltd .................................  | Count | 15 336 | 12 234 |  | USD | 80.32 | 1 099 074.73 | 0.97 |
| Tesla, Inc. ........................................  | Count | 880 | 880 |  | USD | 1 035.89 | 813 369.23 | 0.72 |
| Texas Instruments, Inc...............................  | Count | 4 417 | 5 849 | 11 990 | USD | 127 | 500 521.28 | 0.44 |
| Trane Technologies PLC .............................  | Count | 7 639 | 10 829 | 7 639 | USD | 88.59 | 603 827.15 | 0.53 |
| Trimble, Inc........................................  | Count | 27 248 | 11 378 |  | USD | 42.63 | 1 036 433.37 | 0.91 |
| Verisk Analytics, Inc. ................................  | Count | 4 796 | 2 002 |  | USD | 166.44 | 712 243.19 | 0.63 |
| VMware, Inc. ......................................  | Count | 30 983 | 18 814 |  | USD | 151.25 | 4 181 289.85 | 3.69 |
| Waste Management, Inc. ............................  | Count | 9 742 | 9 004 | 11 820 | USD | 104.16 | 905 400.06 | 0.80 |
| Weyerhaeuser Co...................................  | Count | 43 696 | 18 246 |  | USD | 22.22 | 866 317.65 | 0.76 |
| Xylem, Inc.........................................  | Count | 21 784 | 16 876 | 18 630 | USD | 64.2 | 1 247 854.88 | 1.10 |
| Zoetis, Inc.........................................  | Count | 24 052 | 13 333 | 7 880 | USD | 133.74 | 2 870 145.66 | 2.53 |
| Total securities portfolio |  |  |  |  |  |  | 105 241 141.17 | 92.86 |

| DWS Invest ESG Climate Tech |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  | Count/ | Quantity/ | Purchases/ | Sales/ | Currency | Market price | Total market | % of |
| Security name | units/ currency | principal amount | additions in the | disposals reporting period |  |  | value in EUR | net assets |
| Cash at bank |  |  |  |  |  |  | 7 810 299.98 | 6.89 |
| Demand deposits at Depositary EUR deposits......................................  | EUR |  |  |  |  |  | 231 835.21 | 0.20 |
| Deposits in other EU/EEA currencies |  |  |  |  |  |  |  |  |
| British pound .....................................  | GBP | 8 110 |  |  |  |  | 8 900.73 | 0.01 |
| Danish krone ......................................  | DKK | 68 614 |  |  |  |  | 9 206.54 | 0.01 |
| Norwegian krone ...................................  | NOK | 95 287 |  |  |  |  | 8 757.58 | 0.01 |
| Swedish krona.....................................  | SEK | 101 694 |  |  |  |  | 9 707.07 | 0.01 |
| Deposits in non-EU/EEA currencies |  |  |  |  |  |  |  |  |
| Australian dollar ....................................         | AUD | 294 |  |  |  |  | 180.28 | 0.00 |
| Hong Kong dollar ..................................  | HKD | 78 450 |  |  |  |  | 9 031.54 | 0.01 |
| Japanese yen .....................................  | JPY | 2 763 152 |  |  |  |  | 22 890.77 | 0.02 |
| Canadian dollar ....................................  | CAD | 1 435 |  |  |  |  | 936.74 | 0.00 |
| New Taiwan dollar..................................  | TWD | 34 816 651 |  |  |  |  | 1 052 907.35 | 0.93 |
| Swiss franc .......................................  | CHF | 20 779 |  |  |  |  | 19 514.64 | 0.02 |
| Singapore dollar ...................................  | SGD | 360 |  |  |  |  | 229.91 | 0.00 |
| South Korean won..................................  | KRW | 3 840 166 |  |  |  |  | 2 848.59 | 0.00 |
| U.S. dollar ........................................  | USD | 7 210 178 |  |  |  |  | 6 433 353.03 | 5.67 |
| Other assets |  |  |  |  |  |  | 1 935 965.31 | 1.71 |
| Dividends/Distributions receivable .....................  |  |  |  |  |  |  | 99 650.83 | 0.09 |
| Prepaid placement fee * .............................  |  |  |  |  |  |  | 946 795.26 | 0.83 |
| Receivables from exceeding the expense cap ............  |  |  |  |  |  |  | 42 963.16 | 0.04 |
| Other receivables ..................................  |  |  |  |  |  |  | 846 556.06 | 0.75 |
| Receivables from share certificate transactions |  |  |  |  |  |  | 258 452.19 | 0.23 |
| Total assets |  |  |  |  |  |  | 115 245 858.65 | 101.69 |
| Other liabilities |  |  |  |  |  |  | -1 877 551.84 | -1.66 |
| Additional other liabilities.............................  |  |  |  |  |  |  | -1 877 551.84 | -1.66 |
| Liabilities from share certificate transactions |  |  |  |  |  |  | -32 638.75 | -0.03 |
| Total liabilities |  |  |  |  |  |  | -1 910 190.59 | -1.69 |
| Net assets |  |  |  |  |  |  | 113 335 668.06 | 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 | 119.01 |
| Class LC .........................................  | EUR | 117.27 |
| Class LD .........................................  | EUR | 116.24 |
| Class NC .........................................  | EUR | 129.04 |
| Class PFC ........................................  | EUR | 96.45 |
| Class TFC ........................................  | EUR | 118.40 |
| Class TFD ........................................  | EUR | 115.34 |
| Class XC .........................................  | EUR | 119.41 |
| Class USD FC .....................................  | USD | 114.87 |
| Class USD LC .....................................  | USD | 113.71 |
| Class USD TFC ....................................  | USD | 114.82 |
| Number of shares outstanding Class FC .........................................  | Count | 77 560.034 |
| Class LC .........................................  | Count | 252 247.715 |
| Class LD .........................................  | Count | 82 435.280 |
| Class NC .........................................  | Count | 77 952.316 |
| Class PFC ........................................  | Count | 390 352.000 |
| Class TFC ........................................  | Count | 15 257.760 |
| Class TFD ........................................  | Count | 180.708 |
| Class XC .........................................  | Count | 121 976.000 |
| Class USD FC .....................................  | Count | 258.676 |
| Class USD LC .....................................  | Count | 3 332.555 |
| Class USD TFC ....................................  | Count | 4 643.883 |

Composition of the reference portfolio (according to CSSF circular 11/512) MSCI All Country World Index, in EUR
Market risk exposure (value-at-risk) (according to CSSF circular 11/512)
| Lowest market risk exposure .........................  | % | 34.950 |
| --- | --- | --- |
| Highest market risk exposure .........................  | % | 123.561 |
| Average market risk exposure ........................  | % | 110.749 |

The values-at-risk were calculated for the period from January 1, 2020, through June 30, 2020, using historical simulation with a 99% confidence level, a 10-day holding period and an effective historical observation period of one year. The risk in a reference portfolio that does not contain derivatives is used as the measurement benchmark. Market risk is the risk to the fund’s assets arising from an unfavorable change in market prices. The Company determines the potential market risk by means of the relative value-at-risk approachas defined in CSSF circular 11/512.
In the reporting period, the average leverage effect from the use of derivatives was 0.0, whereby the total of the nominal amounts of the derivatives in relation to the fund’s assets was used for the calculation (sum-of-notional approach).
The gross exposure generated via derivatives pursuant to point 40 a) of the “Guidelines on ETFs and other UCITS issues” of the European Securities and Markets Authority (ESMA) totaled EUR 0.00 as of the reporting date.
 Exchange rates (indirect quotes)	
As of June 30, 2020
| Australian dollar ................. . | AUD | 1.632080 | = | EUR | 1 |
| --- | --- | --- | --- | --- | --- |
| Canadian dollar ................. . | CAD | 1.532233 | = | EUR | 1 |
| Swiss franc .................... . | CHF | 1.064768 | = | EUR | 1 |
| Danish krone ................... . | DKK | 7.452704 | = | EUR | 1 |
| British pound .................. . | GBP | 0.911178 | = | EUR | 1 |
| Hong Kong dollar ............... . | HKD | 8.686201 | = | EUR | 1 |
| Japanese yen .................. . | JPY | 120.710331 | = | EUR | 1 |
| South Korean won............... . | KRW | 1 348.093605 | = | EUR | 1 |
| Norwegian krone ................ . | NOK | 10.880517 | = | EUR | 1 |
| Swedish krona.................. . | SEK | 10.476263 | = | EUR | 1 |
| Singapore dollar ................ . | SGD | 1.564791 | = | EUR | 1 |
| New Taiwan dollar............... . | TWD | 33.067155 | = | EUR | 1 |
| U.S. dollar ..................... . | USD | 1.120750 | = | EUR | 1 |

 Notes on valuation	
Under the responsibility of the Board of Directors of the SICAV, the Management Company determines the net asset values per share and performs the valuation of the assets of the fund. The basic provision of price data and price validation are performed in accordance with the method introduced by the Board of Directors of the SICAV on the basis of the legal and regulatory requirements or the principles for valuation methods defined in the SICAV’s prospectus.
If no trading prices are available, prices are determined with the aid of valuation models (derived market values) which are agreed between State Street Bank International GmbH, Luxembourg branch, as external price service provider and the Management Company and which are based as far as possible on market parameters. This procedure is subject to an ongoing monitoring process. The plausibility of price information from third parties is checked through other pricing sources, model calculations or other suitable procedure.
Assets reported in this report are not valued at derived market values.
 Footnote	
* The prepaid placement fee is amortized over a period of three years (as specified in article 12 (d) of the general section of the fund’s management regulations).

Translation (ENDE, 2020-06-30):
# DWS Invest ESG Climate Tech
DWS INVEST ESG CLIMATE TECH

### Wertentwicklung der Anteilklassen (in EUR)
| Anteilklasse | ISIN | 6 Monate |
| --- | --- | --- |
| Klasse LD | LU1863261647 | 2,3% |
| Klasse FC | LU1863264070 | 2,7% |
| Klasse LC | LU1863264153 | 2,3% |
| Klasse NC | LU1914384182 | 2,1% |
| Klasse PFC | LU2066748570 | -3,6% 1) |
| Klasse TFC | LU1863261720 | 2,7% |
| Klasse TFD | LU1885667318 | 2,7% |
| Klasse XC | LU1863261993 | 3,0% |
| Klasse USD FC 2) | LU1885667409 | 2,7% |
| Klasse USD LC 2) | LU1885667581 | 2,3% |
| Klasse USD TFC 2) | LU1885667664 | 2,7% |

1) 
Klasse PFC aufgelegt am 7.2.2020
2) 
in USD
Wertentwicklung nach BVI-Methode, d. h. ohne Berücksichtigung des Ausgabeaufschlages.
Wertentwicklungen der Vergangenheit ermöglichen keine Prognose für die Zukunft.	Stand: 30.6.2020
DWS Invest ESG Climate Tech
| Vermögensübersicht zum 30.6.2020 |  |
| --- | --- |
|  | Bestand in EUR | %-Anteil am Fondsvermögen |
| I. Vermögensgegenstände |  |  |
| 1. Aktien (Branchen) Informationstechnologie | 16 237 627,99 | 14,33 |
| Dauerhafte Konsumgüter | 18 698 062,67 | 16,49 |
| Energie | 18 359 370,76 | 16,20 |
| Hauptverbrauchsgüter | 6 109 407,78 | 5,41 |
| Finanzsektor | 8 757 314,50 | 7,73 |
| Grundstoffe | 8 396 619,07 | 7,40 |
| Industrien | 23 487 848,03 | 20,72 |
| Versorger | 5 194 890,37 | 4,58 |
| Summe Aktien | 105 241 141,17 | 92,86 |
| 2. Bankguthaben | 7 810 299,98 | 6,89 |
| 3. Sonstige Vermögensgegenstände | 1 935 965,31 | 1,71 |
| 4. Forderungen aus Anteilscheingeschäften | 258 452,19 | 0,23 |
| II. Verbindlichkeiten |  |  |
| 1. Sonstige Verbindlichkeiten | -1 877 551,84 | - 1,66 |
| 2. Verbindlichkeiten aus Anteilscheingeschäften | -32 638,75 | - 0,03 |
|  |  |  |
| III. Fondsvermögen | 113 335 668,06 | 100,00 |
| Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein. |  |  |

| Vermögensaufstellung zum 30.6.2020 |  |
| --- | --- |
|  | Stück bzw. | Nominalbetrag | Käufe/ | Verkäufe/ | Währung | Kurs | Kurswert | %-Anteil am |
| Wertpapierbezeichnung | Anteile bzw. | bzw. | Zugänge | Abgänge |  |  | in | Fonds- |
|  | Währung | Bestand | im Berichtszeitraum |  |  | EUR | vermögen |
| Börsengehandelte Wertpapiere |  |  |  |  |  | 105 241 141,17 | 92,86 |
| Aktien Geberit AG .......................................  | Stück | 1 530 | 639 | CHF | 472,8 | 679 381,72 | 0,60 |
| Landis+Gyr Group AG ..............................  | Stück | 10 260 | 10 260 | CHF | 60,95 | 587 308,16 | 0,52 |
| ALK-Abello A/S  ...................................  | Stück | 2 758 | 845 | DKK | 1 772 | 655 758,74 | 0,58 |
| Chr Hansen Holding A/S .............................  | Stück | 11 312 | 11 312 |  | DKK | 682,8 | 1 036 379,98 | 0,91 |
| Orsted A/S .......................................  | Stück | 12 009 | 5 014 |  | DKK | 766,8 | 1 235 591,91 | 1,09 |
| Vestas Wind Systems A/S ...........................  | Stück | 6 265 | 5 156 | 4 480 | DKK | 676 | 568 268,88 | 0,50 |
| Akasol AG .......................................  | Stück | 7 107 |  |  | EUR | 40,615 | 288 650,81 | 0,26 |
| Alfen Beheer BV ..................................  | Stück | 26 780 | 26 780 |  | EUR | 36,15 | 968 097,00 | 0,85 |
| Evonik Industries AG ...............................  | Stück | 53 248 | 30 115 |  | EUR | 22,45 | 1 195 417,60 | 1,06 |
| Kingspan Group PLC ...............................  | Stück | 24 963 | 12 578 | 5 160 | EUR | 56,75 | 1 416 650,25 | 1,25 |
| Koninklijke DSM NV ................................  | Stück | 15 906 | 6 971 |  | EUR | 122,55 | 1 949 280,30 | 1,72 |
| Koninklijke Philips NV ...............................  | Stück | 42 432 | 22 348 |  | EUR | 41,225 | 1 749 259,20 | 1,54 |
| Neoen SA  .......................................  | Stück | 25 238 |  |  | EUR | 36,2 | 913 615,60 | 0,81 |
| Neste Oyj ........................................  | Stück | 97 211 | 39 184 |  | EUR | 34,47 | 3 350 863,17 | 2,96 |
| Nexans SA .......................................  | Stück | 71 018 | 53 438 |  | EUR | 41,72 | 2 962 870,96 | 2,61 |
| Nordex SE .......................................  | Stück | 97 806 | 47 171 |  | EUR | 8,725 | 853 357,35 | 0,75 |
| Rational AG ......................................  | Stück | 1 050 | 1 050 |  | EUR | 497,4 | 522 270,00 | 0,46 |
| Schneider Electric SE ...............................  | Stück | 32 049 | 14 955 |  | EUR | 98,06 | 3 142 724,94 | 2,77 |
| Solaria Energia y Medio Ambiente SA  .................  | Stück | 75 687 | 47 477 | 38 010 | EUR | 11,29 | 854 506,23 | 0,75 |
| Umicore SA ......................................  | Stück | 22 903 | 11 643 |  | EUR | 41,58 | 952 306,74 | 0,84 |
| UPM-Kymmene Oyj ................................  | Stück | 17 788 | 7 428 |  | EUR | 25,67 | 456 617,96 | 0,40 |
| Verbund AG ......................................  | Stück | 31 107 | 12 989 |  | EUR | 39,38 | 1 224 993,66 | 1,08 |
| John Laing Group PLC  .............................  | Stück | 601 280 | 292 301 |  | GBP | 3,475 | 2 292 995,36 | 2,02 |
| Smurfit Kappa Group PLC ...........................  | Stück | 47 691 | 32 808 |  | GBP | 26,5 | 1 387 007,81 | 1,22 |
| Panasonic Corp. ...................................  | Stück | 152 400 | 152 400 |  | JPY | 939,6 | 1 186 269,96 | 1,05 |
| Sakata Seed Corp. .................................  | Stück | 48 255 | 11 900 |  | JPY | 3 440 | 1 375 169,78 | 1,21 |
| Shimano, Inc. .....................................  | Stück | 6 963 | 4 000 |  | JPY | 20 750 | 1 196 933,59 | 1,06 |
| Mowi ASA .......................................  | Stück | 61 138 | 48 034 |  | NOK | 181,85 | 1 021 821,43 | 0,90 |
| NEL ASA ........................................  | Stück | 294 711 | 575 490 | 654 160 | NOK | 18,825 | 509 896,23 | 0,45 |
| Scatec Solar ASA ..................................  | Stück | 49 740 | 20 770 |  | NOK | 156,9 | 717 264,27 | 0,63 |
| Storebrand ASA ...................................  | Stück | 142 021 | 87 602 |  | NOK | 49,39 | 644 676,83 | 0,57 |
| Tomra Systems ASA ...............................  | Stück | 15 481 | 6 968 | 7 130 | NOK | 351,2 | 499 693,83 | 0,44 |
| Nobina AB .......................................  | Stück | 75 627 | 75 627 |  | SEK | 55,5 | 400 648,47 | 0,35 |
| Acuity Brands, Inc. .................................  | Stück | 8 590 | 8 590 |  | USD | 95,93 | 735 256,77 | 0,65 |
| Agilent Technologies, Inc. ...........................  | Stück | 33 517 | 13 996 |  | USD | 87,35 | 2 612 278,48 | 2,31 |
| American Water Works Co., Inc. ......................  | Stück | 17 610 | 7 354 |  | USD | 126,13 | 1 981 842,67 | 1,75 |
| Aptiv PLC ........................................  | Stück | 18 682 | 10 177 |  | USD | 75,3 | 1 255 190,86 | 1,11 |
| Autodesk, Inc. ....................................  | Stück | 2 802 | 3 995 | 6 290 | USD | 232,76 | 581 926,19 | 0,51 |
| Biohaven Pharmaceutical Holding Co., Ltd ..............  | Stück | 11 886 | 9 446 | 3 510 | USD | 70,84 | 751 286,70 | 0,66 |
| Carrier Global Corp. ................................  | Stück | 54 720 | 54 720 |  | USD | 21,59 | 1 054 120,25 | 0,93 |
| Covanta Holding Corp. ..............................  | Stück | 71 936 | 37 906 |  | USD | 9,27 | 595 000,65 | 0,53 |
| Danaher Corp. ....................................  | Stück | 20 462 | 8 544 |  | USD | 172,43 | 3 148 127,64 | 2,78 |
| Darling Ingredients, Inc. .............................  | Stück | 166 292 | 84 834 |  | USD | 23,75 | 3 523 922,87 | 3,11 |
| Ecolab, Inc. .......................................  | Stück | 8 170 | 5 088 |  | USD | 194,74 | 1 419 608,68 | 1,25 |
| EnerSys .........................................  | Stück | 15 253 | 8 513 |  | USD | 63,68 | 866 661,99 | 0,77 |
| Enphase Energy, Inc. ...............................  | Stück | 23 650 | 23 650 |  | USD | 47,88 | 1 010 361,32 | 0,89 |
| Equinix, Inc. ......................................  | Stück | 3 269 | 1 365 |  | USD | 693,88 | 2 023 907,76 | 1,79 |
| First Solar, Inc. ....................................  | Stück | 36 310 | 37 225 | 12 938 | USD | 49,37 | 1 599 487,32 | 1,41 |
| Hannon Armstrong Sustainable Infrastructure Capital, Inc ..  | Stück | 54 620 | 54 620 |  | USD | 27,85 | 1 357 276,47 | 1,20 |
| Itron, Inc. ........................................  | Stück | 45 918 | 26 588 |  | USD | 64,97 | 2 661 872,53 | 2,35 |
| Marsh & McLennan Cos, Inc. ........................  | Stück | 30 441 | 13 864 |  | USD | 105,82 | 2 874 207,36 | 2,54 |
| Maxim Integrated Products, Inc. ......................  | Stück | 27 896 | 11 649 |  | USD | 60,57 | 1 507 616,67 | 1,33 |
| Microsoft Corp. ...................................  | Stück | 27 399 | 13 322 |  | USD | 199,69 | 4 881 827,77 | 4,31 |
| Nikola Corp. ......................................  | Stück | 14 640 | 26 030 | 11 390 | USD | 64,82 | 846 723,33 | 0,75 |
| NVIDIA Corp. .....................................  | Stück | 3 546 | 2 859 | 3 300 | USD | 379,26 | 1 199 961,18 | 1,06 |
| NXP Semiconductors NV ............................  | Stück | 15 040 | 9 780 |  | USD | 113 | 1 516 413,72 | 1,34 |
| Ormat Technologies, Inc. ...........................  | Stück | 13 310 | 5 558 |  | USD | 63,36 | 752 462,13 | 0,66 |
| Renewable Energy Group, Inc. .......................  | Stück | 31 510 | 31 510 |  | USD | 23,62 | 664 078,96 | 0,59 |
| ServiceMaster Global Holdings, Inc. ...................  | Stück | 91 326 | 61 206 |  | USD | 35,47 | 2 890 327,46 | 2,55 |
| Solaredge Technologies, Inc. .........................  | Stück | 29 180 | 14 485 |  | USD | 137,52 | 3 580 490,91 | 3,16 |
| Sunrun, Inc. ......................................  | Stück | 49 299 | 29 654 |  | USD | 19,48 | 856 877,00 | 0,76 |
| SVB Financial Group ...............................  | Stück | 5 290 | 5 290 | 1 376 | USD | 209,94 | 990 928,43 | 0,87 |
| Synopsys, Inc. ....................................  | Stück | 10 926 | 6 546 |  | USD | 191,62 | 1 868 071,33 | 1,65 |
| TE Connectivity Ltd ................................  | Stück | 15 336 | 12 234 |  | USD | 80,32 | 1 099 074,73 | 0,97 |
| Tesla, Inc. .......................................  | Stück | 880 | 880 |  | USD | 1 035,89 | 813 369,23 | 0,72 |
| Texas Instruments, Inc. .............................  | Stück | 4 417 | 5 849 | 11 990 | USD | 127 | 500 521,28 | 0,44 |
| Trane Technologies PLC ............................  | Stück | 7 639 | 10 829 | 7 639 | USD | 88,59 | 603 827,15 | 0,53 |
| Trimble, Inc. ......................................  | Stück | 27 248 | 11 378 |  | USD | 42,63 | 1 036 433,37 | 0,91 |
| Verisk Analytics, Inc. ...............................  | Stück | 4 796 | 2 002 |  | USD | 166,44 | 712 243,19 | 0,63 |
| VMware, Inc. .....................................  | Stück | 30 983 | 18 814 |  | USD | 151,25 | 4 181 289,85 | 3,69 |
| Waste Management, Inc. ............................  | Stück | 9 742 | 9 004 | 11 820 | USD | 104,16 | 905 400,06 | 0,80 |
| Weyerhaeuser Co. .................................  | Stück | 43 696 | 18 246 |  | USD | 22,22 | 866 317,65 | 0,76 |
| Xylem, Inc. .......................................  | Stück | 21 784 | 16 876 | 18 630 | USD | 64,2 | 1 247 854,88 | 1,10 |
| Zoetis, Inc. .......................................  | Stück | 24 052 | 13 333 | 7 880 | USD | 133,74 | 2 870 145,66 | 2,53 |
| Summe Wertpapiervermögen |  |  |  |  |  |  | 105 241 141,17 | 92,86 |

| DWS Invest ESG Climate Tech |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  | Stück bzw. | Nominalbetrag | Käufe/ | Verkäufe/ | Währung | Kurs | Kurswert | %-Anteil am |
| Wertpapierbezeichnung | Anteile bzw. | bzw. | Zugänge | Abgänge |  |  | in | Fonds- |
|  | Währung | Bestand | im Berichtszeitraum | EUR | vermögen |
| Bankguthaben |  |  |  | 7 810 299,98 | 6,89 |
| Verwahrstelle (täglich fällig) EUR-Guthaben ....................................  | EUR |  |  | 231 835,21 | 0,20 |
| Guthaben in sonstigen EU/EWR-Währungen |  |  |  |  |  |
| Britisches Pfund ...................................  | GBP | 8 110 |  | 8 900,73 | 0,01 |
| Dänische Kronen ..................................  | DKK | 68 614 |  | 9 206,54 | 0,01 |
| Norwegische Kronen ...............................  | NOK | 95 287 |  | 8 757,58 | 0,01 |
| Schwedische Kronen ...............................  | SEK | 101 694 |  | 9 707,07 | 0,01 |
| Guthaben in Nicht-EU/EWR-Währungen |  |  |  |  |  |
| Australischer Dollar ................................  | AUD | 294 |  | 180,28 | 0,00 |
| Hongkong Dollar ...................................  | HKD | 78 450 |  | 9 031,54 | 0,01 |
| Japanischer Yen ...................................  | JPY | 2 763 152 |  | 22 890,77 | 0,02 |
| Kanadischer Dollar .................................  | CAD | 1 435 |  | 936,74 | 0,00 |
| Neue Taiwan Dollar ................................  | TWD | 34 816 651 |  | 1 052 907,35 | 0,93 |
| Schweizer Franken .................................  | CHF | 20 779 |  | 19 514,64 | 0,02 |
| Singapur Dollar ....................................  | SGD | 360 |  | 229,91 | 0,00 |
| Südkoreanischer Won ..............................  | KRW | 3 840 166 |  | 2 848,59 | 0,00 |
| US-Dollar ........................................  | USD | 7 210 178 |  | 6 433 353,03 | 5,67 |
| Sonstige Vermögensgegenstände |  |  |  | 1 935 965,31 | 1,71 |
| Dividenden- / Ausschüttungsansprüche .................  |  |  |  | 99 650,83 | 0,09 |
| Abgegrenzte Platzierungsgebühr * .....................  |  |  |  | 946 795,26 | 0,83 |
| Forderungen aus der Überschreitung des „Expense Cap“ ..  |  |  |  | 42 963,16 | 0,04 |
| Sonstige Ansprüche ................................  |  |  |  | 846 556,06 | 0,75 |
| Forderungen aus Anteilscheingeschäften |  |  |  | 258 452,19 | 0,23 |
| Summe der Vermögensgegenstände |  |  |  | 115 245 858,65 | 101,69 |
| Sonstige Verbindlichkeiten |  |  |  | -1 877 551,84 | -1,66 |
| Andere sonstige Verbindlichkeiten .....................  |  |  |  | -1 877 551,84 | -1,66 |
| Verbindlichkeiten aus Anteilscheingeschäften |  |  |  | -32 638,75 | -0,03 |
| Summe der Verbindlichkeiten |  |  |  | -1 910 190,59 | -1,69 |
| Fondsvermögen |  |  |  | 113 335 668,06 | 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 | 119,01 |
| Klasse LC ........................................  | EUR | 117,27 |
| Klasse LD ........................................  | EUR | 116,24 |
| Klasse NC ........................................  | EUR | 129,04 |
| Klasse PFC .......................................  | EUR | 96,45 |
| Klasse TFC .......................................  | EUR | 118,40 |
| Klasse TFD .......................................  | EUR | 115,34 |
| Klasse XC ........................................  | EUR | 119,41 |
| Klasse USD FC ....................................  | USD | 114,87 |
| Klasse USD LC ....................................  | USD | 113,71 |
| Klasse USD TFC ...................................  | USD | 114,82 |
| Umlaufende Anteile Klasse FC ........................................  | Stück | 77 560,034 |
| Klasse LC ........................................  | Stück | 252 247,715 |
| Klasse LD ........................................  | Stück | 82 435,280 |
| Klasse NC ........................................  | Stück | 77 952,316 |
| Klasse PFC .......................................  | Stück | 390 352,000 |
| Klasse TFC .......................................  | Stück | 15 257,760 |
| Klasse TFD .......................................  | Stück | 180,708 |
| Klasse XC ........................................  | Stück | 121 976,000 |
| Klasse USD FC ....................................  | Stück | 258,676 |
| Klasse USD LC ....................................  | Stück | 3 332,555 |
| Klasse USD TFC ...................................  | Stück | 4 643,883 |

Zusammensetzung des Referenzportfolios (gem. CSSF-Rundschreiben 11/512) MSCI All Country World Index, in EUR
Potenzieller Risikobetrag für das Marktrisiko (gem. CSSF-Rundschreiben 11/512)
| kleinster potenzieller Risikobetrag .....................  | % | 34,950 |
| --- | --- | --- |
| größter potenzieller Risikobetrag ......................  | % | 123,561 |
| durchschnittlicher potenzieller Risikobetrag ..............  | % | 110,749 |

Die Risikokennzahlen wurden für den Zeitraum vom 1.1.2020 bis 30.6.2020 auf Basis der Methode der historischen Simulation mit den Parametern 99% Konfidenzniveau, 10 Tage Haltedauer unter Verwendung eines effektiven, historischen Beobachtungszeitraumes von einem Jahr berechnet. Als Bewertungsmaßstab wird das Risiko eines derivatefreien Vergleichsvermögens herangezogen. Unter dem Marktrisiko versteht man das Risiko, das sich aus der ungünstigsten Entwicklung von Marktpreisen für das Fondsvermögen ergibt. Bei der Ermittlung des Marktrisikopotenzials wendet die Gesellschaft den relativen Value at Risk-Ansatzim Sinne des CSSF-Rundschreibens 11/512 an.
Die durchschnittliche Hebelwirkung aus der Nutzung von Derivaten betrug im Berichtszeitraum 0,0, wobei zur Berechnung die Summe der Nominalbeträge der Derivate in Relation zum Fondsvermögen gesetzt wurde (Nominalwertmethode).
Das durch Derivate erzielte zugrundeliegende Exposure gem. Punkt 40 a) der „Leitlinien zu börsengehandelten Indexfonds und anderen OGAW-Themen“ der European Securities and Markets Authority (ESMA) belief sich zum Berichtsstichtag unter Zugrundelegung einer Bruttobetrachtung auf EUR 0,00.
 Devisenkurse (in Mengennotiz)	
per 30.6.2020
| Australischer Dollar ..............  | AUD | 1,632080 | = | EUR | 1 |
| --- | --- | --- | --- | --- | --- |
| Kanadischer Dollar ...............  | CAD | 1,532233 | = | EUR | 1 |
| Schweizer Franken ...............  | CHF | 1,064768 | = | EUR | 1 |
| Dänische Kronen ................  | DKK | 7,452704 | = | EUR | 1 |
| Britisches Pfund .................  | GBP | 0,911178 | = | EUR | 1 |
| Hongkong Dollar .................  | HKD | 8,686201 | = | EUR | 1 |
| Japanischer Yen .................  | JPY | 120,710331 | = | EUR | 1 |
| Südkoreanischer Won ............  | KRW | 1 348,093605 | = | EUR | 1 |
| Norwegische Kronen .............  | NOK | 10,880517 | = | EUR | 1 |
| Schwedische Kronen .............  | SEK | 10,476263 | = | EUR | 1 |
| Singapur Dollar ..................  | SGD | 1,564791 | = | EUR | 1 |
| Neue Taiwan Dollar ..............  | TWD | 33,067155 | = | EUR | 1 |
| US-Dollar ......................  | USD | 1,120750 | = | EUR | 1 |

 Erläuterungen zur Bewertung	
Die Anteilwerte werden in Verantwortung des Verwaltungsrats der SICAV durch die Verwaltungsgesellschaft ermittelt sowie die Bewertung der Vermögenswerte des Fondsvermögens durchgeführt. Die grundsätzliche Kursversorgung sowie die Preisvalidierung erfolgen nach den vom Verwaltungsrat der SICAV auf der Grundlage der in den gesetzlichen Bestimmungen/ Verordnungen bzw. im Prospekt der SICAV definierten Grundsätze für Bewertungsmethoden eingeführten Verfahren.
Sofern keine handelbaren Kurse vorliegen, werden Bewertungsmodelle zur Preisermittlung (abgeleitete Verkehrswerte) genutzt, die zwischen State Street Bank International GmbH, Luxembourg Branch, als externem Price Service Provider und der Verwaltungsgesellschaft abgestimmt sind und sich so weit als möglich auf Marktparameter stützen. Diese Vorgehensweise unterliegt einem permanenten Kontrollprozess. Preisauskünfte Dritter werden durch andere Preisquellen, modellhafte Rechnungen oder durch andere geeignete Verfahren auf Plausibilität geprüft.
Die in diesem Bericht ausgewiesenen Vermögenswerte werden nicht zu abgeleiteten Verkehrswerten bewertet.
 Fußnote	
* Die abgegrenzte Platzierungsgebühr wird über einen Zeitraum von drei Jahren abgeschrieben (entsprechend Artikel 12 d) des Verwaltungsreglements – Allgemeiner Teil des Fonds).