# DWS Invest II Global Equity High Conviction Fund
| Statement of net assets as of June 30, 2020 |  |
| --- | --- |
|  | Amount in EUR | % of net assets |
| I. Assets |  |  |
| 1. Equities (sectors): Information Technology | 20 190 529.71 | 16.96 |
| Telecommunication Services | 32 878 182.25 | 27.62 |
| Consumer Discretionaries | 32 083 483.66 | 26.93 |
| Consumer Staples | 3 318 629.56 | 2.79 |
| Financials | 23 201 137.22 | 19.49 |
| Industrials | 4 464 367.15 | 3.75 |
| Total equities | 116 136 329.55 | 97.54 |
| 2. Cash at bank | 3 208 208.83 | 2.70 |
| 3. Other assets | 172 156.04 | 0.14 |
| 4. Receivables from share certificate transactions | 34 450.59 | 0.03 |
| II. Liabilities |  |  |
| 1. Other liabilities | -191 146.41 | - 0.16 |
| 2. Liabilities from share certificate transactions | -292 929.76 | - 0.25 |
| III. Net assets | 119 067 068.84 | 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/ | principal | additions | disposals |  |  | value in | net assets |
| currency	amount	in the reporting period	EUR |
| Securities traded on an exchange |  |  |  |  |  |  | 116 136 329.55 | 97.54 |
| Equities Canadian Imperial Bank of Commerce/Canada ............  | Count | 21 900 |  | 31 800 | CAD | 89.9 | 1 284 928.80 | 1.08 |
| Nestle SA ........................................  | Count | 44 000 |  | 6 700 | CHF | 105.06 | 4 341 452.31 | 3.65 |
| Roche Holding AG ..................................  | Count | 8 450 |  |  | CHF | 327.65 | 2 600 230.47 | 2.18 |
| Allianz SE.........................................  | Count | 16 500 | 16 500 |  | EUR | 180.22 | 2 973 630.00 | 2.50 |
| Deutsche Boerse AG................................  | Count | 14 300 |  | 5 700 | EUR | 160.4 | 2 293 720.00 | 1.93 |
| Fresenius SE & Co. KGaA ............................  | Count | 85 100 | 10 700 | 25 000 | EUR | 43.91 | 3 736 741.00 | 3.14 |
| Heineken NV ......................................  | Count | 8 200 | 8 200 |  | EUR | 81.9 | 671 580.00 | 0.56 |
| Talanx AG ........................................  | Count | 66 000 | 27 000 |  | EUR | 32.7 | 2 158 200.00 | 1.81 |
| Unilever NV ......................................  | Count | 90 000 |  |  | EUR | 47.43 | 4 268 700.00 | 3.58 |
| AIA Group Ltd .....................................  | Count | 124 800 | 124 800 |  | HKD | 72.3 | 1 038 778.59 | 0.87 |
| Tencent Holdings Ltd ...............................  | Count | 128 400 |  |  | HKD | 498.6 | 7 370 338.03 | 6.19 |
| Bridgestone Corp. ..................................  | Count | 94 000 | 22 000 | 16 000 | JPY | 3 469 | 2 701 392.64 | 2.27 |
| Samsung Electronics Co., Ltd .........................  | Count | 163 150 |  | 18 100 | KRW | 52 800 | 6 390 001.38 | 5.37 |
| Taiwan Semiconductor Manufacturing Co., Ltd ...........  | Count | 625 000 |  | 122 000 | TWD | 313 | 5 915 991.20 | 4.97 |
| Agilent Technologies, Inc. ............................  | Count | 39 690 |  | 32 300 | USD | 87.35 | 3 093 395.38 | 2.60 |
| Alibaba Group Holding Ltd -ADR- ......................  | Count | 19 130 | 4 500 |  | USD | 215.99 | 3 686 719.01 | 3.10 |
| Alphabet, Inc. .....................................  | Count | 8 950 |  | 4 000 | USD | 1 392.14 | 11 117 249.99 | 9.34 |
| Amdocs Ltd .......................................  | Count | 18 070 |  | 21 900 | USD | 60.45 | 974 643.70 | 0.82 |
| American Express Co. ...............................  | Count | 31 000 |  | 9 800 | USD | 93.66 | 2 590 641.22 | 2.18 |
| Amgen, Inc. .......................................  | Count | 10 778 |  |  | USD | 232.42 | 2 235 131.61 | 1.88 |
| Arista Networks, Inc.................................  | Count | 5 500 | 1 800 | 3 600 | USD | 210.72 | 1 034 093.65 | 0.87 |
| Booking Holdings, Inc. ..............................  | Count | 2 420 | 200 | 2 500 | USD | 1 572.57 | 3 395 601.97 | 2.85 |
| Centene Corp. .....................................  | Count | 44 000 |  |  | USD | 61.43 | 2 411 707.40 | 2.02 |
| Check Point Software Technologies Ltd .................  | Count | 20 750 |  | 13 000 | USD | 106.36 | 1 969 191.05 | 1.65 |
| Facebook, Inc. .....................................  | Count | 24 000 |  |  | USD | 220.1 | 4 713 274.23 | 3.96 |
| Gilead Sciences, Inc. ................................  | Count | 22 300 |  | 15 700 | USD | 75.61 | 1 504 442.26 | 1.26 |
| Home Depot, Inc./The ...............................  | Count | 2 800 | 1 700 | 22 400 | USD | 247.06 | 617 236.92 | 0.52 |
| Honeywell International, Inc...........................  | Count | 10 800 |  | 5 000 | USD | 142.27 | 1 370 971.77 | 1.15 |
| HP, Inc. ..........................................  | Count | 226 300 | 93 000 | 49 000 | USD | 17.05 | 3 442 709.37 | 2.89 |
| Johnson & Johnson.................................  | Count | 13 700 | 22 500 | 8 800 | USD | 138.34 | 1 691 062.90 | 1.42 |
| Marsh & McLennan Cos, Inc. .........................  | Count | 21 950 |  | 20 400 | USD | 105.82 | 2 072 496.02 | 1.74 |
| Medtronic PLC ....................................  | Count | 43 900 |  | 11 900 | USD | 89.43 | 3 502 992.24 | 2.94 |
| Motorola Solutions, Inc. .............................  | Count | 12 600 | 12 600 |  | USD | 138.84 | 1 560 905.37 | 1.31 |
| Progressive Corp./The ...............................  | Count | 65 000 | 5 500 |  | USD | 79.26 | 4 596 834.30 | 3.86 |
| S+P Global, Inc.....................................  | Count | 13 000 |  | 5 300 | USD | 323.54 | 3 752 863.41 | 3.15 |
| UnitedHealth Group, Inc..............................  | Count | 5 300 | 5 300 |  | USD | 288.98 | 1 366 580.06 | 1.15 |
| Visa, Inc. .........................................  | Count | 24 551 |  | 11 300 | USD | 191.36 | 4 191 908.29 | 3.52 |
| VMware, Inc. .....................................  | Count | 11 100 | 11 100 |  | USD | 151.25 | 1 497 993.01 | 1.26 |
| Total securities portfolio |  |  |  |  |  |  | 116 136 329.55 | 97.54 |
| Cash at bank |  |  |  |  |  |  | 3 208 208.83 | 2.70 |
| Demand deposits at Depositary EUR deposits......................................  | EUR |  |  |  |  |  | 27 474.30 | 0.02 |
| Deposits in other EU/EEA currencies |  |  |  |  |  |  |  |  |
| British pound .....................................  | GBP | 2 048 |  |  |  |  | 2 247.39 | 0.00 |
| Danish krone ......................................  | DKK | 6 662 |  |  |  |  | 893.88 | 0.00 |
| Norwegian krone ...................................  | NOK | 24 857 |  |  |  |  | 2 284.59 | 0.00 |
| Swedish krona.....................................  | SEK | 2 262 |  |  |  |  | 215.93 | 0.00 |
| Deposits in non-EU/EEA currencies ....................  |  |  |  |  |  |  |  |  |
| Australian dollar ....................................         | AUD | 4 825 |  |  |  |  | 2 956.50 | 0.00 |
| Brazilian real ......................................  | BRL | 6 502 |  |  |  |  | 1 058.52 | 0.00 |
| Hong Kong dollar ..................................  | HKD | 266 351 |  |  |  |  | 30 663.70 | 0.04 |
| Indonesian rupiah ..................................  | IDR | 2 619 630 |  |  |  |  | 163.63 | 0.00 |
| Israeli shekel ......................................  | ILS | 2 669 |  |  |  |  | 686.35 | 0.00 |
| Japanese yen .....................................  | JPY | 3 228 443 |  |  |  |  | 26 745.37 | 0.02 |
| Canadian dollar ....................................  | CAD | 3 457 |  |  |  |  | 2 256.27 | 0.00 |
| Mexican peso .....................................  | MXN | 3 480 |  |  |  |  | 134.02 | 0.00 |
| New Taiwan dollar..................................  | TWD | 100 001 |  |  |  |  | 3 024.18 | 0.00 |
| Swiss franc .......................................  | CHF | 2 393 |  |  |  |  | 2 247.06 | 0.00 |
| Singapore dollar ...................................  | SGD | 4 303 |  |  |  |  | 2 749.74 | 0.00 |
| South African rand..................................  | ZAR | 4 214 |  |  |  |  | 216.35 | 0.00 |
| South Korean won..................................  | KRW | 4 961 961 |  |  |  |  | 3 680.72 | 0.00 |
| Thai baht .........................................  | THB | 79 664 |  |  |  |  | 2 299.79 | 0.00 |
| U.S. dollar ........................................  | USD | 3 470 077 |  |  |  |  | 3 096 210.54 | 2.62 |
| Other assets |  |  |  |  |  |  | 172 156.04 | 0.14 |
| Dividends/Distributions receivable .....................  |  |  |  |  |  |  | 172 156.04 | 0.14 |


#
| Count/ Security name	units/ | Quantity/ principal | Purchases/ additions | Sales/ disposals | Currency | Market price | Total market value in | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| currency	amount Receivables from share certificate transactions | in the reporting period	EUR 34 450.59 | 0.03 |
| Total assets | 119 551 145.01 | 100.41 |
| Other liabilities | -191 146.41 | -0.16 |
| Liabilities from cost items ............................  | -191 146.41 | -0.16 |
| Liabilities from share certificate transactions | -292 929.76 | -0.25 |
| Total liabilities | -484 076.17 | -0.41 |
| Net assets | 119 067 068.84 | 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 | 205.99 |
| Class LC .........................................  | EUR | 194.30 |
| Class LD .........................................  | EUR | 190.98 |
| Class NC .........................................  | EUR | 184.41 |
| Class TFC ........................................  | EUR | 123.37 |
| Class TFD ........................................  | EUR | 121.86 |
| Number of shares outstanding Class FC .........................................  | Count | 187 256.620 |
| Class LC .........................................  | Count | 310 282.706 |
| Class LD .........................................  | Count | 30 284.662 |
| Class NC .........................................  | Count | 78 172.586 |
| Class TFC ........................................  | Count | 40.000 |
| Class TFD ........................................  | Count | 20.000 |

Composition of the reference portfolio (according to CSSF circular 11/512) MSCI All Countries World Index (EUR)
Market risk exposure (value-at-risk) (according to CSSF circular 11/512)
| Lowest market risk exposure .........................  | % | 83.479 |
| --- | --- | --- |
| Highest market risk exposure .........................  | % | 108.455 |
| Average market risk exposure ........................  | % | 92.503 |

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 92.503 as of the reporting date.
 Exchange rates (indirect quotes)	
As of June 30, 2020
| Australian dollar ................. . | AUD | 1.632080 | = | EUR | 1 |
| --- | --- | --- | --- | --- | --- |
| Brazilian real ................... . | BRL | 6.142380 | = | 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 |
| Indonesian rupiah ............... . | IDR | 16 009.907426 | = | EUR | 1 |
| Israeli shekel ................... . | ILS | 3.888160 | = | EUR | 1 |
| Japanese yen .................. . | JPY | 120.710331 | = | EUR | 1 |
| South Korean won............... . | KRW | 1 348.093605 | = | EUR | 1 |
| Mexican peso .................. . | MXN | 25.965526 | = | EUR | 1 |
| Norwegian krone ................ . | NOK | 10.880517 | = | EUR | 1 |
| Swedish krona.................. . | SEK | 10.476263 | = | EUR | 1 |
| Singapore dollar ................ . | SGD | 1.564791 | = | EUR | 1 |
| Thai baht ...................... . | THB | 34.639567 | = | EUR | 1 |
| New Taiwan dollar............... . | TWD | 33.067155 | = | EUR | 1 |
| U.S. dollar ..................... . | USD | 1.120750 | = | EUR | 1 |
| South African rand............... . | ZAR | 19.478627 | = | EUR | 1 |

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

Translation (ENDE, 2020-06-30):
# DWS Invest II Global Equity High Conviction Fund
| Vermögensübersicht zum 30.6.2020 |  |
| --- | --- |
|  | Bestand in EUR | %-Anteil am Fondsvermögen |
| I. Vermögensgegenstände |  |  |
| 1. Aktien (Branchen) Informationstechnologie | 20 190 529,71 | 16,96 |
| Telekommunikationsdienste | 32 878 182,25 | 27,62 |
| Dauerhafte Konsumgüter | 32 083 483,66 | 26,93 |
| Hauptverbrauchsgüter | 3 318 629,56 | 2,79 |
| Finanzsektor | 23 201 137,22 | 19,49 |
| Industrien | 4 464 367,15 | 3,75 |
| Summe Aktien | 116 136 329,55 | 97,54 |
| 2. Bankguthaben | 3 208 208,83 | 2,70 |
| 3. Sonstige Vermögensgegenstände | 172 156,04 | 0,14 |
| 4. Forderungen aus Anteilscheingeschäften | 34 450,59 | 0,03 |
| II. Verbindlichkeiten |  |  |
| 1. Sonstige Verbindlichkeiten | -191 146,41 | - 0,16 |
| 2. Verbindlichkeiten aus Anteilscheingeschäften | -292 929,76 | - 0,25 |
| III. Fondsvermögen | 119 067 068,84 | 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 |  |  |  |  |  |  | 116 136 329,55 | 97,54 |
| Aktien Canadian Imperial Bank of Commerce/Canada ...........  | Stück | 21 900 |  | 31 800 | CAD | 89,9 | 1 284 928,80 | 1,08 |
| Nestle SA ........................................  | Stück | 44 000 |  | 6 700 | CHF | 105,06 | 4 341 452,31 | 3,65 |
| Roche Holding AG .................................  | Stück | 8 450 |  |  | CHF | 327,65 | 2 600 230,47 | 2,18 |
| Allianz SE ........................................  | Stück | 16 500 | 16 500 |  | EUR | 180,22 | 2 973 630,00 | 2,50 |
| Deutsche Boerse AG ...............................  | Stück | 14 300 |  | 5 700 | EUR | 160,4 | 2 293 720,00 | 1,93 |
| Fresenius SE & Co. KGaA ...........................  | Stück | 85 100 | 10 700 | 25 000 | EUR | 43,91 | 3 736 741,00 | 3,14 |
| Heineken NV .....................................  | Stück | 8 200 | 8 200 |  | EUR | 81,9 | 671 580,00 | 0,56 |
| Talanx AG ........................................  | Stück | 66 000 | 27 000 |  | EUR | 32,7 | 2 158 200,00 | 1,81 |
| Unilever NV ......................................  | Stück | 90 000 |  |  | EUR | 47,43 | 4 268 700,00 | 3,58 |
| AIA Group Ltd ....................................  | Stück | 124 800 | 124 800 |  | HKD | 72,3 | 1 038 778,59 | 0,87 |
| Tencent Holdings Ltd ...............................  | Stück | 128 400 |  |  | HKD | 498,6 | 7 370 338,03 | 6,19 |
| Bridgestone Corp. .................................  | Stück | 94 000 | 22 000 | 16 000 | JPY | 3 469 | 2 701 392,64 | 2,27 |
| Samsung Electronics Co., Ltd ........................  | Stück | 163 150 |  | 18 100 | KRW | 52 800 | 6 390 001,38 | 5,37 |
| Taiwan Semiconductor Manufacturing Co., Ltd ...........  | Stück | 625 000 |  | 122 000 | TWD | 313 | 5 915 991,20 | 4,97 |
| Agilent Technologies, Inc. ...........................  | Stück | 39 690 |  | 32 300 | USD | 87,35 | 3 093 395,38 | 2,60 |
| Alibaba Group Holding Ltd -ADR- ......................  | Stück | 19 130 | 4 500 |  | USD | 215,99 | 3 686 719,01 | 3,10 |
| Alphabet, Inc. .....................................  | Stück | 8 950 |  | 4 000 | USD | 1 392,14 | 11 117 249,99 | 9,34 |
| Amdocs Ltd ......................................  | Stück | 18 070 |  | 21 900 | USD | 60,45 | 974 643,70 | 0,82 |
| American Express Co. ..............................  | Stück | 31 000 |  | 9 800 | USD | 93,66 | 2 590 641,22 | 2,18 |
| Amgen, Inc. ......................................  | Stück | 10 778 |  |  | USD | 232,42 | 2 235 131,61 | 1,88 |
| Arista Networks, Inc. ...............................  | Stück | 5 500 | 1 800 | 3 600 | USD | 210,72 | 1 034 093,65 | 0,87 |
| Booking Holdings, Inc. .............................  | Stück | 2 420 | 200 | 2 500 | USD | 1 572,57 | 3 395 601,97 | 2,85 |
| Centene Corp. ....................................  | Stück | 44 000 |  |  | USD | 61,43 | 2 411 707,40 | 2,02 |
| Check Point Software Technologies Ltd ................  | Stück | 20 750 |  | 13 000 | USD | 106,36 | 1 969 191,05 | 1,65 |
| Facebook, Inc. ....................................  | Stück | 24 000 |  |  | USD | 220,1 | 4 713 274,23 | 3,96 |
| Gilead Sciences, Inc. ...............................  | Stück | 22 300 |  | 15 700 | USD | 75,61 | 1 504 442,26 | 1,26 |
| Home Depot, Inc./The ..............................  | Stück | 2 800 | 1 700 | 22 400 | USD | 247,06 | 617 236,92 | 0,52 |
| Honeywell International, Inc. .........................  | Stück | 10 800 |  | 5 000 | USD | 142,27 | 1 370 971,77 | 1,15 |
| HP, Inc. ..........................................  | Stück | 226 300 | 93 000 | 49 000 | USD | 17,05 | 3 442 709,37 | 2,89 |
| Johnson & Johnson ................................  | Stück | 13 700 | 22 500 | 8 800 | USD | 138,34 | 1 691 062,90 | 1,42 |
| Marsh & McLennan Cos, Inc. ........................  | Stück | 21 950 |  | 20 400 | USD | 105,82 | 2 072 496,02 | 1,74 |
| Medtronic PLC ....................................  | Stück | 43 900 |  | 11 900 | USD | 89,43 | 3 502 992,24 | 2,94 |
| Motorola Solutions, Inc. .............................  | Stück | 12 600 | 12 600 |  | USD | 138,84 | 1 560 905,37 | 1,31 |
| Progressive Corp./The ..............................  | Stück | 65 000 | 5 500 |  | USD | 79,26 | 4 596 834,30 | 3,86 |
| S+P Global, Inc. ...................................  | Stück | 13 000 |  | 5 300 | USD | 323,54 | 3 752 863,41 | 3,15 |
| UnitedHealth Group, Inc. ............................  | Stück | 5 300 | 5 300 |  | USD | 288,98 | 1 366 580,06 | 1,15 |
| Visa, Inc. .........................................  | Stück | 24 551 |  | 11 300 | USD | 191,36 | 4 191 908,29 | 3,52 |
| VMware, Inc. .....................................  | Stück | 11 100 | 11 100 |  | USD | 151,25 | 1 497 993,01 | 1,26 |
| Summe Wertpapiervermögen |  |  |  |  |  |  | 116 136 329,55 | 97,54 |
| Bankguthaben |  |  |  |  |  |  | 3 208 208,83 | 2,70 |
| Verwahrstelle (täglich fällig) EUR-Guthaben ....................................  | EUR |  |  |  |  |  | 27 474,30 | 0,02 |
| Guthaben in sonstigen EU/EWR-Währungen |  |  |  |  |  |  |  |  |
| Britisches Pfund ...................................  | GBP | 2 048 |  |  |  |  | 2 247,39 | 0,00 |
| Dänische Kronen ..................................  | DKK | 6 662 |  |  |  |  | 893,88 | 0,00 |
| Norwegische Kronen ...............................  | NOK | 24 857 |  |  |  |  | 2 284,59 | 0,00 |
| Schwedische Kronen ...............................  | SEK | 2 262 |  |  |  |  | 215,93 | 0,00 |
| Guthaben in Nicht-EU/EWR-Währungen .................  |  |  |  |  |  |  |  |  |
| Australischer Dollar ................................  | AUD | 4 825 |  |  |  |  | 2 956,50 | 0,00 |
| Brasilianischer Real ................................  | BRL | 6 502 |  |  |  |  | 1 058,52 | 0,00 |
| Hongkong Dollar ...................................  | HKD | 266 351 |  |  |  |  | 30 663,70 | 0,04 |
| Indonesische Rupie ................................  | IDR | 2 619 630 |  |  |  |  | 163,63 | 0,00 |
| Israelischer Schekel ................................  | ILS | 2 669 |  |  |  |  | 686,35 | 0,00 |
| Japanischer Yen ...................................  | JPY | 3 228 443 |  |  |  |  | 26 745,37 | 0,02 |
| Kanadischer Dollar .................................  | CAD | 3 457 |  |  |  |  | 2 256,27 | 0,00 |
| Mexikanischer Peso ................................  | MXN | 3 480 |  |  |  |  | 134,02 | 0,00 |
| Neue Taiwan Dollar ................................  | TWD | 100 001 |  |  |  |  | 3 024,18 | 0,00 |
| Schweizer Franken .................................  | CHF | 2 393 |  |  |  |  | 2 247,06 | 0,00 |
| Singapur Dollar ....................................  | SGD | 4 303 |  |  |  |  | 2 749,74 | 0,00 |
| Südafrikanischer Rand ..............................  | ZAR | 4 214 |  |  |  |  | 216,35 | 0,00 |
| Südkoreanischer Won ..............................  | KRW | 4 961 961 |  |  |  |  | 3 680,72 | 0,00 |
| Thailändischer Baht ................................  | THB | 79 664 |  |  |  |  | 2 299,79 | 0,00 |
| US-Dollar ........................................  | USD | 3 470 077 |  |  |  |  | 3 096 210,54 | 2,62 |
| Sonstige Vermögensgegenstände |  |  |  |  |  |  | 172 156,04 | 0,14 |
| Dividenden- / Ausschüttungsansprüche .................  |  |  |  |  |  |  | 172 156,04 | 0,14 |


#
| Wertpapierbezeichnung | Stück bzw. Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Währung | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Währung	Bestand	im Berichtszeitraum	EUR	vermögen |
| Forderungen aus Anteilscheingeschäften | 34 450,59 | 0,03 |
| Summe der Vermögensgegenstände | 119 551 145,01 | 100,41 |
| Sonstige Verbindlichkeiten | -191 146,41 | -0,16 |
| Verbindlichkeiten aus Kostenpositionen ................  | -191 146,41 | -0,16 |
| Verbindlichkeiten aus Anteilscheingeschäften | -292 929,76 | -0,25 |
| Summe der Verbindlichkeiten | -484 076,17 | -0,41 |
| Fondsvermögen | 119 067 068,84 | 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 | 205,99 |
| Klasse LC ........................................  | EUR | 194,30 |
| Klasse LD ........................................  | EUR | 190,98 |
| Klasse NC ........................................  | EUR | 184,41 |
| Klasse TFC .......................................  | EUR | 123,37 |
| Klasse TFD .......................................  | EUR | 121,86 |
| Umlaufende Anteile Klasse FC ........................................  | Stück | 187 256,620 |
| Klasse LC ........................................  | Stück | 310 282,706 |
| Klasse LD ........................................  | Stück | 30 284,662 |
| Klasse NC ........................................  | Stück | 78 172,586 |
| Klasse TFC .......................................  | Stück | 40,000 |
| Klasse TFD .......................................  | Stück | 20,000 |

Zusammensetzung des Referenzportfolios (gem. CSSF-Rundschreiben 11/512) MSCI All Countries World Index (EUR)
Potenzieller Risikobetrag für das Marktrisiko (gem. CSSF-Rundschreiben 11/512)
| kleinster potenzieller Risikobetrag .....................  | % | 83,479 |
| --- | --- | --- |
| größter potenzieller Risikobetrag ......................  | % | 108,455 |
| durchschnittlicher potenzieller Risikobetrag ..............  | % | 92,503 |

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 92,503.
 Devisenkurse (in Mengennotiz)	
per 30.6.2020
| Australischer Dollar ............. . | AUD | 1,632080 | = | EUR | 1 |
| --- | --- | --- | --- | --- | --- |
| Brasilianischer Real ............. . | BRL | 6,142380 | = | 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 |
| Indonesische Rupie ............. . | IDR | 16 009,907426 | = | EUR | 1 |
| Israelischer Schekel ............. . | ILS | 3,888160 | = | EUR | 1 |
| Japanischer Yen ................ . | JPY | 120,710331 | = | EUR | 1 |
| Südkoreanischer Won ........... . | KRW | 1 348,093605 | = | EUR | 1 |
| Mexikanischer Peso ............. . | MXN | 25,965526 | = | EUR | 1 |
| Norwegische Kronen ............ . | NOK | 10,880517 | = | EUR | 1 |
| Schwedische Kronen ............ . | SEK | 10,476263 | = | EUR | 1 |
| Singapur Dollar ................. . | SGD | 1,564791 | = | EUR | 1 |
| Thailändischer Baht ............. . | THB | 34,639567 | = | EUR | 1 |
| Neue Taiwan Dollar ............. . | TWD | 33,067155 | = | EUR | 1 |
| US-Dollar ..................... . | USD | 1,120750 | = | EUR | 1 |
| Südafrikanischer Rand ........... . | ZAR | 19,478627 | = | 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.