# DWS Invest ESG Floating Rate Notes
DWS INVEST ESG FLOATING RATE NOTES

### Performance of share classes (in euro)
| Share class | ISIN | 6 months |
| --- | --- | --- |
| Class LC | LU1965927921 | -0.5% |
| Class FC | LU1965927681 | -0.4% |
| Class IC | LU1965927848 | -0.4% |
| Class TFC | LU1965928069 | -0.4% |
| Class CHF ICH 2 | LU2096458232 | -0.7% 1 |
| Class CHF RCH 2 | LU2059790340 | -0.7% |
| Class CHF TFCH 2 | LU2011205866 | -0.1% |
| Class GBP CH RD 3 | LU2066748810 | 0.1% |
| Class GBP ICH 3 | LU1965927764 | 0.1% |
| Class GBP LCH 3 | LU2066748901 | 0.0% |
| Class USD ICH 4 | LU1965928143 | 0.6% |
| Class USD LCH 4 | LU2066749032 | 0.6% |
| Class USD TFCH 4 | LU1965928226 | 0.6% |

1 
Class CHF ICH launched on January 20, 2020
2 
in CHF
3 
in GBP
4 
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 Floating Rate Notes
| Statement of net assets as of June 30, 2020 |  |
| --- | --- |
|  | Amount in EUR | % of net assets |
| I. Assets |  |  |
| 1. Bonds (issuers) Companies | 184 234 793.06 | 82.18 |
| Central governments | 3 842 779.00 | 1.72 |
| Total bonds | 188 077 572.06 | 83.90 |
| 2. Derivatives | 1 080 191.05 | 0.48 |
| 3. Cash at bank | 37 708 277.14 | 16.82 |
| 4. Other assets | 1 505 461.77 | 0.67 |
| 5. Receivables from share certificate transactions | 507 569.83 | 0.23 |
| II. Liabilities |  |  |
| 1. Other liabilities | -4 640 807.68 | - 2.07 |
| 2. Liabilities from share certificate transactions | -65 708.89 | - 0.03 |
| III. Net assets | 224 172 555.28 | 100.00 |
| Negligible rounding errors may have arisen due to the rounding of calculated percentages. |  |  |

| Investment portfolio – June 30, 2020 |  |
| --- | --- |
|  | Count/ | Quantity/ | Purchases/ | Sales/ | 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 |  |  |  |  |  | 153 910 272.14 | 68.66 |
| Interest-bearing securities 1.00  % ABB Finance BV (MTN) 2019/2020 * ...........  | EUR | 1 200 000 | 400 000 | % | 100.016 | 1 200 198.00 | 0.54 |
| 0.178 % ABN AMRO Bank NV (MTN) 2000/2020 * .......  | EUR | 1 200 000 |  | % | 100 | 1 199 994.00 | 0.54 |
| 1.00  % ABN AMRO Bank NV (MTN) 2018/2021 * .......  | EUR | 600 000 |  | % | 100.25 | 601 500.00 | 0.27 |
| 0.011 % ABN AMRO Bank NV (MTN) 2019/2021 * .......  | EUR | 400 000 |  | % | 100.15 | 400 598.00 | 0.18 |
| 0.105 % Allianz Finance II BV (MTN) 2017/2020 * ........  | EUR | 1 500 000 |  | % | 100.131 | 1 501 965.00 | 0.67 |
| 4.125 % Allied Irish Banks PLC (MTN) 2015/2025 *.......  | EUR | 1 000 000 | 500 000 | % | 100.379 | 1 003 790.00 | 0.45 |
| 1.00  % Anheuser-Busch InBev SA/NV (MTN) 2018/2024 * | EUR | 1 400 000 | 700 000 | % | 98.469 | 1 378 566.00 | 0.61 |
| 0.45  % AT&T, Inc. (MTN) 2018/2023 * ................  | EUR | 1 000 000 | 400 000 | % | 99.323 | 993 230.00 | 0.44 |
| 0.002 % AT&T, Inc. 2018/2020 * .....................  0.207 % Banco Bilbao Vizcaya Argentaria SA (MTN) 2017/2022 * ..............................  | EUR EUR | 600 000 1 000 000 | 200 000 | % % | 100.05 99.897 | 600 300.00 998 970.00 | 0.27 0.45 |
| 0.205 % Banco Bilbao Vizcaya Argentaria SA (MTN) |  |  |  |  |  |  |  |  |
| 2018/2023 * ..............................  | EUR | 1 400 000 | 600 000 | % | 98.512 | 1 379 168.00 | 0.61 |
| 0.622 % Banco Santander SA (MTN) 2017/2022 * ........  | EUR | 1 000 000 | 500 000 | % | 99.961 | 999 610.00 | 0.45 |
| 0.401 % Banco Santander SA (MTN) 2017/2023 * ........  | EUR | 700 000 | 700 000 | % | 99.504 | 696 524.50 | 0.31 |
| 0.387 % Bank of America Corp. (MTN) 2017/2023 * ......  | EUR | 1 000 000 | 500 000 | % | 100.17 | 1 001 705.00 | 0.45 |
| 0.314 % Bank of America Corp. (MTN) 2018/2024 * ......  | EUR | 800 000 | 200 000 | % | 99.644 | 797 152.00 | 0.36 |
| 0.102 % Bank of Montreal (MTN) 2017/2021 * ..........  | EUR | 1 200 000 | 600 000 | % | 100.37 | 1 204 440.00 | 0.54 |
| 0.105 % Bank of Montreal (MTN) 2018/2022 * ..........  | EUR | 1 000 000 | 500 000 | % | 100.19 | 1 001 900.00 | 0.45 |
| 0.221 % Bank of Nova Scotia/The (MTN) 2017/2022 *.....  | EUR | 1 200 000 |  | % | 100.289 | 1 203 468.00 | 0.54 |
| 0.009 % Bank of Nova Scotia/The (MTN) 2019/2021 *.....  | EUR | 400 000 |  | % | 100.14 | 400 558.00 | 0.18 |
| 0.072 % Barclays Bank PLC (MTN) 2001/2021 * .........  | EUR | 400 000 |  | % | 99.258 | 397 030.00 | 0.18 |
| 0.055 % Barclays Bank PLC (MTN) 2017/2020 * .........  | EUR | 600 000 |  | % | 100.052 | 600 312.00 | 0.27 |
| 0.089 % BMW Finance NV (MTN) 2019/2021 * ..........  | EUR | 500 000 |  | % | 99.892 | 499 460.00 | 0.22 |
| 0.087 % BMW Finance NV (MTN) 2020/2022 * ..........  | EUR | 1 000 000 | 1 000 000 | % | 99.764 | 997 645.00 | 0.44 |
| 0.452 % BNP Paribas SA (MTN) 2017/2022 *............  | EUR | 2 500 000 | 2 000 000 | % | 100.569 | 2 514 225.00 | 1.12 |
| 0.355 % BNP Paribas SA (MTN) 2017/2024 *............  | EUR | 1 200 000 | 500 000 | % | 99.557 | 1 194 684.00 | 0.53 |
| 1.00  % BNP Paribas SA (MTN) 2018/2023 *............  | EUR | 1 000 000 | 500 000 | % | 99.152 | 991 525.00 | 0.44 |
| 0.21  % BNP Paribas SA (MTN) 2018/2023 *............  | EUR | 800 000 |  | % | 99.61 | 796 876.00 | 0.36 |
| 0.502 % BPCE SA (MTN) 2014/2021 * .................  | EUR | 1 000 000 | 1 000 000 | % | 100.349 | 1 003 490.00 | 0.45 |
| 0.655 % BPCE SA (MTN) 2017/2022 * .................  | EUR | 700 000 |  | % | 100.826 | 705 785.50 | 0.31 |
| 0.107 % BPCE SA (MTN) 2018/2023 * .................  | EUR | 1 200 000 | 400 000 | % | 99.09 | 1 189 086.00 | 0.53 |
| 0.102 % BPCE SA (MTN) 2018/2023 * .................  0.20 % Canadian Imperial Bank of Commerce (MTN) 2018/2021 * ..............................  | EUR EUR | 800 000 600 000 |  | % % | 99.253 100.414 | 794 024.00 602 481.00 | 0.35 0.27 |
| 0.287 % Carrefour Banque SA (MTN) 2016/2021 * .......  | EUR | 1 000 000 | 500 000 | % | 100.114 | 1 001 145.00 | 0.45 |
| 0.225 % Carrefour Banque SA (MTN) 2018/2022 * .......  | EUR | 1 000 000 | 300 000 | % | 99.97 | 999 705.00 | 0.45 |
| 0.257 % Carrefour Banque SA 2019/2023 * .............  | EUR | 1 200 000 | 500 000 | % | 99.36 | 1 192 326.00 | 0.53 |
| 0.097 % Cassa Depositi e Prestiti SpA (MTN) 2015/2022 * . | EUR | 700 000 | 200 000 | % | 99.426 | 695 982.00 | 0.31 |
| 0.102 % Citigroup, Inc. (MTN) 2018/2023 * .............  | EUR | 1 500 000 | 900 000 | % | 99.528 | 1 492 920.00 | 0.67 |
| 1.00  % Coca-Cola Co./The 2019/2021 * ...............  | EUR | 600 000 |  | % | 100.06 | 600 357.00 | 0.27 |
| 1.00  % Coca-Cola European Partners PLC 2017/2021 *...  | EUR | 1 800 000 | 800 000 | % | 99.906 | 1 798 308.00 | 0.80 |
| 7.75  % Commerzbank AG (MTN) 2011/2021 ...........  | EUR | 800 000 | 300 000 | % | 104.172 | 833 372.00 | 0.37 |
| 0.355 % Commerzbank AG (MTN) 2017/2022 *..........  | EUR | 1 000 000 | 500 000 | % | 99.52 | 995 200.00 | 0.44 |
| 0.05  % Commerzbank AG (MTN) 2018/2020 *..........  | EUR | 1 500 000 | 1 000 000 | % | 100.092 | 1 501 380.00 | 0.67 |
| 2.50  % Cooperatieve Rabobank UA 2014/2026 * ........  | EUR | 1 000 000 | 300 000 | % | 101.136 | 1 011 365.00 | 0.45 |
| 0.407 % Credit Agricole SA/London (MTN) 2017/2022 * ...  | EUR | 900 000 |  | % | 100.47 | 904 230.00 | 0.40 |
| 0.207 % Credit Agricole SA/London (MTN) 2018/2023 * ...  | EUR | 1 500 000 | 800 000 | % | 99.715 | 1 495 725.00 | 0.67 |
| 0.157 % Credit Agricole SA/London (MTN) 2019/2022 * ...  | EUR | 700 000 |  | % | 100.398 | 702 782.50 | 0.31 |
| 0.688 % Credit Suisse AG/London (MTN) 2020/2022 * ....  1.127 % Crédit Suisse Group Funding Guernsey Ltd (MTN) 2015/2022 * ..............................  | EUR EUR | 1 320 000 700 000 | 1 320 000 | % % | 101.025 100.918 | 1 333 530.00 706 426.00 | 0.59 0.31 |
| 0.067 % Daimler AG (MTN) 2017/2024 * ...............  1.00  % Daimler International Finance BV (MTN) 2017/2022 * ..............................  | EUR EUR | 1 000 000 500 000 | 200 000 | % % | 96.144 99.16 | 961 445.00 495 797.50 | 0.43 0.22 |
| 1.00  % Daimler International Finance BV (MTN) |  |  |  |  |  |  |  |  |
| 2018/2023 * ..............................  | EUR | 1 000 000 | 400 000 | % | 98.47 | 984 695.00 | 0.44 |
| 0.105 % Deutsche Bank AG (MTN) 2017/2020 * .........  | EUR | 1 200 000 | 400 000 | % | 99.8 | 1 197 600.00 | 0.53 |
| 0.389 % Deutsche Bank AG (MTN) 2017/2022 * .........  | EUR | 800 000 | 200 000 | % | 97.716 | 781 732.00 | 0.35 |
| 0.499 % Deutsche Pfandbriefbank AG 2020/2023 *.......  1.00 % Deutsche Telekom International Finance BV (MTN) 2018/2022 * ..............................  | EUR EUR | 1 000 000 1 800 000 | 1 000 000 | % % | 99.412 100.188 | 994 120.00 1 803 384.00 | 0.44 0.80 |
| 1.00  % DNB Bank ASA (MTN) 2015/2020 * ............  | EUR | 500 000 |  | % | 100.056 | 500 282.50 | 0.22 |
| 0.364 % DNB Bank ASA (MTN) 2019/2022 * ............  | EUR | 2 400 000 | 1 500 000 | % | 100.856 | 2 420 544.00 | 1.08 |
| 0.005 % Euroclear Bank SA (MTN) 2018/2021 * .........  | EUR | 500 000 |  | % | 100.161 | 500 805.00 | 0.22 |
| 1.463 % European Investment Bank (MTN) 2019/2022 *...  | EUR | 1 500 000 | 1 400 000 | % | 104.422 | 1 566 322.50 | 0.70 |
| 0.025 % Ford Motor Credit Co., LLC (MTN) 2018/2022 * ..  | EUR | 300 000 |  | % | 91.262 | 273 787.50 | 0.12 |
| 1.00  % Gecina SA (MTN) 2017/2022 * ................  | EUR | 1 800 000 |  | % | 99.332 | 1 787 976.00 | 0.80 |
| 0.202 % GlaxoSmithKline Capital PLC (MTN) 2019/2021 * . | EUR | 1 000 000 |  | % | 100.224 | 1 002 235.00 | 0.45 |
| 0.00  % GlaxoSmithKline Capital PLC 2017/2020.........  | EUR | 1 508 000 | 1 508 000 | % | 99.999 | 1 507 984.92 | 0.67 |
| 0.235 % Goldman Sachs Group, Inc. (MTN) 2017/2022 * .. 0.614 % Goldman Sachs Group, Inc./The (MTN) 2016/2021 * ..............................  | EUR EUR | 1 100 000 600 000 | 500 000 | % % | 99.474 100.507 | 1 094 214.00 603 042.00 | 0.49 0.27 |
| 0.159 % Goldman Sachs Group, Inc./The (MTN) |  |  |  |  |  |  |  |  |
| 2020/2023 * ..............................  | EUR | 900 000 | 900 000 | % | 98.756 | 888 804.00 | 0.40 |
| 0.205 % HSBC Bank PLC (MTN) 2019/2021 * ...........  | EUR | 400 000 |  | % | 100.338 | 401 350.00 | 0.18 |

| 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 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 0.301 % HSBC Holdings PLC (MTN) 2017/2022 * ........  | EUR | 1 200 000 | 500 000 | % | 99.974 | 1 199 694.00 | 0.53 |
| 0.121 % HSBC Holdings PLC (MTN) 2017/2023 * ........  | EUR | 1 500 000 | 1 000 000 | % | 98.876 | 1 483 147.50 | 0.66 |
| 1.00  % ING Bank NV (MTN) 2018/2020 * ..............  | EUR | 300 000 |  | % | 100.16 | 300 480.00 | 0.13 |
| 0.006 % ING Bank NV (MTN) 2018/2021 * ..............  | EUR | 300 000 |  | % | 100.312 | 300 937.50 | 0.13 |
| 0.015 % ING Bank NV (MTN) 2019/2021 * ..............  | EUR | 1 000 000 |  | % | 100.221 | 1 002 210.00 | 0.45 |
| 0.015 % ING Bank NV 2019/2022 * ...................  | EUR | 700 000 |  | % | 100.154 | 701 081.50 | 0.31 |
| 0.447 % ING Groep NV (MTN) 2018/2023 * .............  | EUR | 500 000 |  | % | 100.039 | 500 195.00 | 0.22 |
| 0.557 % Intesa Sanpaolo SpA (MTN) 2017/2022 * ........  | EUR | 1 700 000 | 1 000 000 | % | 99.703 | 1 694 951.00 | 0.76 |
| 0.975 % Intesa Sanpaolo SpA (MTN) 2017/2023 * ........  | EUR | 800 000 | 200 000 | % | 99.552 | 796 420.00 | 0.36 |
| 0.305 % Intesa Sanpaolo SpA (MTN) 2019/2022 * ........  | EUR | 400 000 |  | % | 98.649 | 394 596.00 | 0.18 |
| 0.21  % Italy Certificati di Credito del Tesoro/ CCTS-eu (MTN) |  |  |  |  |  |  |  |
| 2015/2022 * ..............................  | EUR | 600 000 |  | % | 100.124 | 600 747.00 | 0.27 |
| 1.00  % John Deere Bank SA (MTN) 2017/2022 *........  | EUR | 700 000 |  | % | 99.173 | 694 211.00 | 0.31 |
| 1.00 % John Deere Cash Management SA (MTN) |  |  |  |  |  |  |  |
| 2017/2020 * ..............................  | EUR | 400 000 |  | % | 100.008 | 400 032.00 | 0.18 |
| 0.14  % KBC Group NV (MTN) 2017/2022 * ............  | EUR | 1 500 000 | 300 000 | % | 99.704 | 1 495 560.00 | 0.67 |
| 1.462 % Kreditanstalt fuer Wiederaufbau 2019/2022 * ....  | EUR | 500 000 |  | % | 104.607 | 523 035.00 | 0.23 |
| 0.284 % Land Baden-Wuerttemberg 2020/2022 * ........  | EUR | 2 500 000 | 2 500 000 | % | 101.842 | 2 546 050.00 | 1.14 |
| 0.107 % Landesbank Baden-Wuerttemberg (MTN) |  |  |  |  |  |  |  |
| 2018/2020 * ..............................  | EUR | 500 000 |  | % | 100.028 | 500 137.50 | 0.22 |
| 0.257 % Landesbank Baden-Wuerttemberg (MTN) |  |  |  |  |  |  |  |  |
| 2020/2022 * ..............................  | EUR | 1 500 000 | 1 500 000 | % | 99.95 | 1 499 250.00 | 0.67 |
| 3.875 % Lincoln Financing SARL -Reg- (MTN) 2019/2024 *. | EUR | 100 000 |  | % | 92.799 | 92 799.00 | 0.04 |
| 0.382 % Lloyds Banking Group PLC (MTN) 2017/2024 * ...  | EUR | 1 200 000 | 600 000 | % | 99.21 | 1 190 520.00 | 0.53 |
| 0.00  % LVMH Moet Hennessy Louis Vuitton SE (MTN) |  |  |  |  |  |  |  |
| 2020/2022 * ..............................  | EUR | 1 300 000 | 1 300 000 | % | 99.89 | 1 298 570.00 | 0.58 |
| 0.401 % Mediobanca Banca di Credito Finanziario SpA |  |  |  |  |  |  |  |  |
| (MTN) 2017/2022 * .........................  | EUR | 1 280 000 | 1 280 000 | % | 99.212 | 1 269 907.20 | 0.57 |
| 0.11  % Mizuho Financial Group, Inc. (MTN) 2018/2023 *..  | EUR | 600 000 |  | % | 99.123 | 594 738.00 | 0.27 |
| 0.314 % Morgan Stanley (MTN) 2016/2022 *............  | EUR | 600 000 |  | % | 100.102 | 600 609.00 | 0.27 |
| 0.00  % Morgan Stanley (MTN) 2017/2021 *............  | EUR | 1 000 000 |  | % | 99.972 | 999 715.00 | 0.45 |
| 0.301 % Morgan Stanley (MTN) 2017/2022 *............  | EUR | 700 000 |  | % | 99.906 | 699 342.00 | 0.31 |
| 1.00  % Morgan Stanley (MTN) 2018/2021 *............  | EUR | 400 000 |  | % | 100.158 | 400 632.00 | 0.18 |
| 0.179 % National Australia Bank Ltd (MTN) 2016/2021 * ...  | EUR | 800 000 |  | % | 100.332 | 802 652.00 | 0.36 |
| 0.308 % National Bank of Canada (MTN) 2019/2021 *.....  | EUR | 500 000 |  | % | 100.499 | 502 495.00 | 0.22 |
| 0.501 % NatWest Markets PLC (MTN) 2018/2021 * ......  | EUR | 400 000 |  | % | 100.504 | 402 018.00 | 0.18 |
| 0.175 % NatWest Markets PLC (MTN) 2019/2021 * ......  | EUR | 600 000 |  | % | 100.154 | 600 927.00 | 0.27 |
| 0.101 % Nordea Bank AB (MTN) 2017/2021 * ...........  | EUR | 600 000 |  | % | 100.418 | 602 508.00 | 0.27 |
| 4.00  % Nordea Bank Abp (MTN) 2010/2021 ............  | EUR | 400 000 |  | % | 102.321 | 409 284.00 | 0.18 |
| 1.875 % Nordea Bank Abp (MTN) 2015/2025 * ..........  | EUR | 1 440 000 | 1 440 000 | % | 100.339 | 1 444 881.60 | 0.64 |
| 0.10  % Nordea Bank Abp (MTN) 2018/2022 * ..........  | EUR | 700 000 |  | % | 100.362 | 702 537.50 | 0.31 |
| 0.112 % Nykredit Realkredit A/S (MTN) 2017/2022 * ......  | EUR | 600 000 |  | % | 100.552 | 603 315.00 | 0.27 |
| 0.357 % OP Corporate Bank plc (MTN) 2017/2022 * ......  | EUR | 1 000 000 |  | % | 100.822 | 1 008 215.00 | 0.45 |
| 0.09  % OP Corporate Bank plc (MTN) 2018/2021 * ......  | EUR | 2 000 000 | 1 600 000 | % | 100.256 | 2 005 130.00 | 0.89 |
| 0.132 % RCI Banque SA (MTN) 2017/2020 * ............  | EUR | 1 500 000 | 1 500 000 | % | 100.017 | 1 500 255.00 | 0.67 |
| 0.257 % RCI Banque SA (MTN) 2017/2021 * ............  | EUR | 500 000 |  | % | 99.1 | 495 500.00 | 0.22 |
| 0.275 % RCI Banque SA (MTN) 2017/2022 * ............  | EUR | 1 100 000 | 300 000 | % | 97.886 | 1 076 751.50 | 0.48 |
| 0.037 % RCI Banque SA (MTN) 2018/2023 * ............  | EUR | 1 400 000 | 700 000 | % | 96.044 | 1 344 616.00 | 0.60 |
| 0.034 % Royal Bank of Canada (MTN) 2015/2020 * .......  | EUR | 800 000 |  | % | 100.042 | 800 336.00 | 0.36 |
| 0.11  % Royal Bank of Canada (MTN) 2018/2020 * .......  | EUR | 500 000 |  | % | 100.044 | 500 222.50 | 0.22 |
| 0.364 % Royal Bank of Canada (MTN) 2019/2021 * .......  | EUR | 800 000 |  | % | 100.306 | 802 452.00 | 0.36 |
| 0.367 % Santander UK Group Holdings PLC (MTN) |  |  |  |  |  |  |  |
| 2017/2023 * ..............................  | EUR | 1 200 000 | 700 000 | % | 98.598 | 1 183 176.00 | 0.53 |
| 0.451 % Santander UK Group Holdings PLC (MTN) |  |  |  |  |  |  |  |  |
| 2018/2024 * ..............................  | EUR | 975 000 | 975 000 | % | 97.844 | 953 974.13 | 0.43 |
| 0.00  % SAP SE 2018/2020 * ........................  | EUR | 1 500 000 |  | % | 100.016 | 1 500 232.50 | 0.67 |
| 1.00  % SAP SE 2018/2021 * ........................  | EUR | 1 500 000 |  | % | 99.972 | 1 499 587.50 | 0.67 |
| 0.304 % Siemens Financieringsmaatschappij NV (MTN) |  |  |  |  |  |  |  |
| 2019/2021 * ..............................  | EUR | 1 200 000 |  | % | 100.479 | 1 205 748.00 | 0.54 |
| 1.00  % Skandinaviska Enskilda Banken AB (MTN) |  |  |  |  |  |  |  |  |
| 2015/2020 * ..............................  | EUR | 2 000 000 | 1 000 000 | % | 100.094 | 2 001 870.00 | 0.89 |
| 0.198 % Snam SpA (MTN) 2017/2022 * ................  | EUR | 700 000 |  | % | 99.726 | 698 082.00 | 0.31 |
| 0.002 % Snam SpA (MTN) 2017/2024 * ................  | EUR | 1 000 000 | 500 000 | % | 97.345 | 973 450.00 | 0.43 |
| 0.462 % Société Générale SA (MTN) 2017/2022 * ........  | EUR | 400 000 |  | % | 100.144 | 400 578.00 | 0.18 |
| 0.39  % Société Générale SA (MTN) 2017/2024 * ........  | EUR | 800 000 | 100 000 | % | 99.204 | 793 636.00 | 0.35 |
| 0.057 % Société Générale SA (MTN) 2018/2023 * ........  | EUR | 1 200 000 | 400 000 | % | 98.762 | 1 185 144.00 | 0.53 |
| 0.257 % Société Générale SA (MTN) 2019/2021 * ........  | EUR | 900 000 | 500 000 | % | 100.338 | 903 037.50 | 0.40 |
| 0.084 % SSE PLC (MTN) 2018/2020 * .................  | EUR | 400 000 |  | % | 99.958 | 399 834.00 | 0.18 |
| 4.00  % Standard Chartered PLC (MTN) 2013/2025 * .....  | EUR | 1 200 000 | 700 000 | % | 100.749 | 1 208 988.00 | 0.54 |
| 0.00  % Stedin Holding NV (MTN) 2017/2022 *..........  | EUR | 1 000 000 | 1 000 000 | % | 99.478 | 994 785.00 | 0.44 |
| 0.055 % Sumitomo Mitsui Financial Group, Inc. (MTN) |  |  |  |  |  |  |  |
| 2017/2022 * ..............................  | EUR | 400 000 |  | % | 99.474 | 397 896.00 | 0.18 |
| 0.099 % Svenska Handelsbanken AB (MTN) 2018/2020 * ..  | EUR | 800 000 |  | % | 100.054 | 800 428.00 | 0.36 |
| 0.087 % Swedbank AB (MTN) 2015/2020 * .............  | EUR | 500 000 |  | % | 100.071 | 500 355.00 | 0.22 |
| 0.148 % Takeda Pharmaceutical Co., Ltd -Reg- 2018/2020 * | EUR | 1 200 000 | 600 000 | % | 100.074 | 1 200 888.00 | 0.54 |
| 0.698 % Takeda Pharmaceutical Co., Ltd -Reg- 2018/2022 * | EUR | 1 500 000 | 700 000 | % | 100.716 | 1 510 740.00 | 0.67 |
| 4.875 % Telecom Italia SpA/Milano (MTN) 2013/2020 .....  | EUR | 2 000 000 | 2 000 000 | % | 100.974 | 2 019 470.00 | 0.90 |
| 0.107 % Toronto-Dominion Bank/The (MTN) 2018/2020 * ..  | EUR | 500 000 |  | % | 100.021 | 500 105.00 | 0.22 |
| 0.314 % Toyota Motor Finance Netherlands BV (MTN) |  |  |  |  |  |  |  |
| 2019/2021 * ..............................  | EUR | 300 000 |  | % | 100.372 | 301 114.50 | 0.13 |
| 0.102 % Toyota Motor Finance Netherlands BV (MTN) |  |  |  |  |  |  |  |  |
| 2019/2022 * ..............................  | EUR | 600 000 | % | 99.617 | 597 702.00 | 0.27 |

| 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 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 0.108 % UBS AG/London (MTN) 2018/2021 * ...........  0.297 % UBS Group Funding Switzerland AG (MTN) 2017/2022 * ..............................  | EUR EUR | 500 000 1 000 000 | 400 000 | % % | 100.266 100.06 | 501 332.50 1 000 605.00 | 0.22 0.45 |
| 0.31  % UniCredit SpA (MTN) 2016/2023 * .............  | EUR | 1 400 000 | 1 400 000 | % | 97.77 | 1 368 787.00 | 0.61 |
| 0.041 % United Parcel Service, Inc. (MTN) 2015/2020 * ...  | EUR | 300 000 |  | % | 100.013 | 300 039.00 | 0.13 |
| 0.10  % Volvo Treasury AB (MTN) 2019/2021 *..........  | EUR | 800 000 | 800 000 | % | 99.845 | 798 760.00 | 0.36 |
| 0.257 % Volvo Treasury AB (MTN) 2019/2021 *..........  | EUR | 1 000 000 |  | % | 100.014 | 1 000 145.00 | 0.45 |
| 0.121 % Volvo Treasury AB (MTN) 2019/2021 *..........  | EUR | 500 000 |  | % | 99.953 | 499 765.00 | 0.22 |
| 0.052 % Vonovia Finance BV (MTN) 2018/2022 * ........  | EUR | 1 500 000 | 500 000 | % | 99.068 | 1 486 012.50 | 0.66 |
| 0.066 % Westpac Banking Corp. (MTN) 2018/2020 * .....  | EUR | 500 000 |  | % | 100.172 | 500 860.00 | 0.22 |
| 0.047 % WPP Finance 2013 (MTN) 2018/2022 * .........  | EUR | 1 800 000 | 800 000 | % | 98.13 | 1 766 349.00 | 0.79 |
| 2.619 % ABN AMRO Bank NV (MTN) 2017/2022 * .......  2.588 % Anheuser-Busch InBev Worldwide, Inc. (MTN) 2018/2024 * ..............................  | USD USD | 500 000 400 000 |  | % % | 100.41 99.942 | 447 959.13 356 697.00 | 0.20 0.16 |
| 2.357 % AstraZeneca PLC (MTN) 2018/2023 * ..........  2.382 % Bank of Communications Co., Ltd/Hong Kong (MTN) 2020/2023 * .........................  | USD USD | 800 000 1 200 000 | 400 000 1 200 000 | % % | 99.902 99.078 | 713 112.04 1 060 845.39 | 0.32 0.47 |
| 3.459 % Barclays PLC (MTN) 2017/2023 * ..............  | USD | 1 000 000 | 600 000 | % | 100.293 | 894 874.32 | 0.40 |
| 3.072 % Barclays PLC (MTN) 2018/2024 * ..............  | USD | 400 000 |  | % | 99.109 | 353 723.99 | 0.16 |
| 2.793 % First Abu Dhabi Bank PJSC (MTN) 2019/2022 *...  | USD | 800 000 | 400 000 | % | 99.88 | 712 947.86 | 0.32 |
| 2.772 % First Abu Dhabi Bank PJSC (MTN) 2019/2024 *...  | USD | 600 000 |  | % | 98 | 524 648.88 | 0.23 |
| 2.692 % HSBC Holdings PLC (MTN) 2018/2024 * ........  | USD | 500 000 | 500 000 | % | 99.566 | 444 196.03 | 0.20 |
| 3.111 % ING Groep NV (MTN) 2017/2022 * .............  | USD | 500 000 |  | % | 100.648 | 449 023.15 | 0.20 |
| 2.232 % Lloyds Bank PLC 2018/2021 * ................  2.647 % Mitsubishi UFJ Financial Group, Inc. (MTN) 2018/2023 * ..............................  | USD USD | 200 000 1 000 000 | 1 000 000 | % % | 100.21 99.684 | 178 826.75 889 436.00 | 0.08 0.40 |
| 2.682 % Mizuho Financial Group, Inc. (MTN) 2018/2023 *..  | USD | 1 000 000 | 600 000 | % | 99.522 | 887 990.54 | 0.40 |
| 2.309 % Mizuho Financial Group, Inc. 2020/2024 * .......  3.497 % Royal Bank of Scotland Group PLC (MTN) 2018/2024 * ..............................  | USD USD | 1 000 000 500 000 | 1 000 000 | % % | 97.818 99.814 | 872 790.89 445 300.20 | 0.39 0.20 |
| 2.20  % Santander UK PLC 2018/2021 * ...............  | USD | 400 000 |  | % | 100.328 | 358 074.65 | 0.16 |
| 3.091 % Standard Chartered PLC -144A- 2019/2022 * ..... 2.643 % Sumitomo Mitsui Financial Group, Inc. (MTN) 2018/2023 * ..............................  | USD USD | 800 000 1 000 000 | 200 000 | % % | 100.176 99.466 | 715 064.30 887 495.33 | 0.32 0.40 |
| 2.594 % Swedbank AB -144A- (MTN) 2017/2022 * .......  | USD | 400 000 |  | % | 100.224 | 357 703.47 | 0.16 |
| 2.758 % Tencent Holdings Ltd -Reg- (MTN) 2019/2024 * .. 2.903 % UBS Group Funding Switzerland AG -144A- (MTN) 2017/2023 * ..............................  | USD USD | 800 000 800 000 | 200 000 | % % | 98.79 100.94 | 705 174.49 720 521.36 | 0.31 0.32 |
| 2.642 % UBS Group Funding Switzerland AG -Reg- (MTN) |  |  |  |  |  |  |  |  |
| 2017/2023 * ..............................  | USD | 800 000 |  | % | 100.25 | 715 592.52 | 0.32 |
| Securities admitted to or included in organized markets |  |  |  |  |  | 34 167 299.92 | 15.24 |
| Interest-bearing securities 0.275 % Ford Motor Credit Co. LLC (MTN) 2017/2024 * ...  | EUR | 200 000 |  | % | 84.447 | 168 894.00 | 0.07 |
| 1.875 % IBM Corp. (MTN) 2014/2020..................  | EUR | 1 000 000 | 1 000 000 | % | 100.608 | 1 006 080.00 | 0.45 |
| 2.346 % AbbVie, Inc. -144A- 2019/2022 * ..............  | USD | 1 400 000 | 600 000 | % | 100.329 | 1 253 273.75 | 0.56 |
| 2.513 % American Express Co. (MTN) 2018/2023 *.......  | USD | 400 000 |  | % | 100.434 | 358 454.75 | 0.16 |
| 2.217 % American Express Co. 2018/2021 * ............  | USD | 400 000 |  | % | 100.32 | 358 046.09 | 0.16 |
| 2.315 % American Express Co. 2019/2022 * ............  | USD | 200 000 |  | % | 100.342 | 179 063.20 | 0.08 |
| 2.238 % American Honda Finance Corp. (MTN) 2019/2021 * | USD | 300 000 | 300 000 | % | 99.94 | 267 518.73 | 0.12 |
| 2.487 % American Honda Finance Corp. (MTN) 2019/2022 * | USD | 800 000 |  | % | 99.796 | 712 351.83 | 0.32 |
| 2.234 % Apple, Inc. (MTN) 2017/2022 * ................  | USD | 400 000 |  | % | 100.656 | 359 243.51 | 0.16 |
| 2.594 % AT&T, Inc. (MTN) 2018/2023 * ................  | USD | 600 000 |  | % | 100.455 | 537 790.26 | 0.24 |
| 3.067 % AT&T, Inc. (MTN) 2018/2024 * ................  2.403 % Australia & New Zealand Banking Group Ltd -144A- (MTN) 2017/2022 * .........................  | USD USD | 600 000 400 000 |  | % % | 100.4 100.75 | 537 497.42 359 582.56 | 0.24 0.16 |
| 2.314 % Australia & New Zealand Banking Group Ltd -144A- (MTN) 2017/2022 * .........................  | USD | 800 000 | 400 000 | % | 100.528 | 717 573.34 | 0.32 |
| 2.186 % Australia & New Zealand Banking Group Ltd -144A- 2019/2022 * ..............................  | USD | 750 000 |  | % | 100.252 | 670 881.37 | 0.30 |
| 2.801 % Bank of America Corp. (MTN) 2017/2023 * ......  | USD | 400 000 |  | % | 100.52 | 358 758.12 | 0.16 |
| 2.511 % Bank of America Corp. (MTN) 2018/2026 * ......  | USD | 600 000 | 100 000 | % | 98.614 | 527 935.97 | 0.23 |
| 2.523 % Bank of Nova Scotia/The (MTN) 2017/2022 *.....  2.549 % Banque Federative du Credit Mutuel SA -144A- (MTN) 2017/2022 * .........................  | USD USD | 400 000 400 000 |  | % % | 100.598 100.466 | 359 038.29 358 568.96 | 0.16 0.16 |
| 2.779 % Banque Federative du Credit Mutuel SA -Reg- |  |  |  |  |  |  |  |  |
| (MTN) 2018/2023 * .........................  | USD | 800 000 | 300 000 | % | 100.538 | 717 651.86 | 0.32 |
| 2.917 % Becton Dickinson and Co. (MTN) 2017/2022 *....  | USD | 700 000 |  | % | 99.994 | 624 544.53 | 0.28 |
| 2.836 % Becton Dickinson and Co. 2018/2020 * .........  | USD | 300 000 |  | % | 99.952 | 267 548.18 | 0.12 |
| 2.503 % BMW Finance NV -144A- 2019/2022 * ..........  | USD | 500 000 |  | % | 99.048 | 441 880.61 | 0.20 |
| 2.368 % BMW US Capital LLC -144A- 2019/2022 * .......  | USD | 200 000 |  | % | 98.612 | 175 975.98 | 0.08 |
| 2.524 % Campbell Soup Co. 2018/2021 * ..............  2.614 % Canadian Imperial Bank of Commerce (MTN) 2017/2022 * ..............................  | USD USD | 400 000 400 000 |  | % % | 100.202 100.74 | 357 624.95 359 543.31 | 0.16 0.16 |
| 2.547 % Canadian Imperial Bank of Commerce (MTN) |  |  |  |  |  |  |  |  |
| 2018/2023 * ..............................  | USD | 400 000 |  | % | 100.098 | 357 255.55 | 0.16 |
| 2.664 % Cardinal Health, Inc. (MTN) 2017/2022 * ........  | USD | 800 000 | 300 000 | % | 99.023 | 706 836.52 | 0.31 |
| 2.721 % Cigna Corp. 2019/2023 *.....................  | USD | 1 000 000 | 600 000 | % | 101.752 | 907 896.86 | 0.40 |
| 2.754 % Citigroup, Inc. (MTN) 2017/2022 * .............  | USD | 200 000 |  | % | 100.436 | 179 230.05 | 0.08 |
| 2.751 % Citigroup, Inc. (MTN) 2017/2023 * .............  | USD | 700 000 | 200 000 | % | 100.052 | 624 903.66 | 0.28 |
| 2.792 % Citigroup, Inc. (MTN) 2017/2024 * .............  | USD | 400 000 |  | % | 99.997 | 356 893.29 | 0.16 |
| 2.454 % Citigroup, Inc. 2019/2022 * ...................  | USD | 800 000 |  | % | 99.748 | 712 012.77 | 0.32 |

| 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 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 3.094 % Credit Suisse Group AG -144A- (MTN) 2017/2023 * | USD | 500 000 |  | % | 100.123 | 446 678.74 | 0.20 |
| 2.605 % CVS Health Corp. 2018/2021 * ................  2.592 % Daimler Finance North America LLC -144A- 2019/2022 * ..............................  | USD USD | 800 000 500 000 | 400 000 | % % | 100.349 98.846 | 716 299.19 440 979.43 | 0.32 0.19 |
| 2.20  % DNB Bank ASA -144A- 2019/2022 * ............  | USD | 500 000 |  | % | 100.792 | 449 665.58 | 0.20 |
| 2.64  % eBay, Inc. (MTN) 2017/2023 * ................  | USD | 500 000 |  | % | 100.457 | 448 168.81 | 0.20 |
| 2.846 % General Mills, Inc. (MTN) 2018/2023 * ..........  | USD | 1 200 000 | 525 000 | % | 100.878 | 1 080 118.21 | 0.48 |
| 2.383 % General Mills, Inc. 2018/2021 * ...............  2.942 % Goldman Sachs Group, Inc./The (MTN) 2017/2023 * ..............................  | USD USD | 400 000 500 000 |  | % % | 100.209 100.146 | 357 649.93 446 779.12 | 0.16 0.20 |
| 2.66  % Goldman Sachs Group, Inc./The (MTN) |  |  |  |  |  |  |  |  |
| 2018/2023 * ..............................  | USD | 800 000 |  | % | 99.564 | 710 695.80 | 0.32 |
| 2.62  % Hewlett Packard Enterprise Co. 2018/2021 *.....  | USD | 600 000 |  | % | 99.835 | 534 472.66 | 0.24 |
| 2.567 % Hewlett Packard Enterprise Co. 2019/2021 *..... 2.677 % Jackson National Life Global Funding -144A- (MTN) 2017/2022 * .........................  | USD USD | 349 000 800 000 | 400 000 | % % | 100.084 100.429 | 311 660.32 716 870.24 | 0.14 0.32 |
| 2.584 % Mitsubishi UFJ Financial Group, Inc. (MTN) |  |  |  |  |  |  |  |  |
| 2017/2022 * ..............................  | USD | 800 000 | 200 000 | % | 100.222 | 715 392.65 | 0.32 |
| 3.027 % Mizuho Financial Group, Inc. (MTN) 2016/2021 *..  | USD | 200 000 |  | % | 100.942 | 180 132.13 | 0.08 |
| 2.768 % Mizuho Financial Group, Inc. (MTN) 2017/2022 *..  | USD | 500 000 |  | % | 99.592 | 444 309.79 | 0.20 |
| 2.683 % Mizuho Financial Group, Inc. 2019/2023 * .......  | USD | 500 000 |  | % | 99.17 | 442 424.89 | 0.20 |
| 2.954 % Morgan Stanley (MTN) 2017/2024 *............  2.448 % National Australia Bank Ltd -144A- (MTN) 2018/2023 * ..............................  | USD USD | 700 000 400 000 | 200 000 | % % | 100.378 100.396 | 626 942.92 358 315.56 | 0.28 0.16 |
| 2.251 % National Australia Bank Ltd -144A- 2020/2022 *. . . | USD | 600 000 | 600 000 | % | 100.066 | 535 709.34 | 0.24 |
| 2.553 % Nordea Bank Abp -144A- (MTN) 2018/2023 * ....  | USD | 400 000 |  | % | 99.513 | 355 165.88 | 0.16 |
| 2.56  % Royal Bank of Canada (MTN) 2018/2023 * .......  | USD | 500 000 |  | % | 99.96 | 445 953.78 | 0.20 |
| 2.196 % Royal Bank of Canada (MTN) 2020/2023 * .......  2.576 % Sumitomo Mitsui Financial Group, Inc. (MTN) 2018/2023 * ..............................  | USD USD | 769 000 1 000 000 | 769 000 500 000 | % % | 99.443 99.742 | 682 326.10 889 962.43 | 0.30 0.40 |
| 2.153 % Svenska Handelsbanken AB 2018/2021 * .......  | USD | 300 000 |  | % | 100.326 | 268 549.29 | 0.12 |
| 2.459 % Toronto-Dominion Bank/The (MTN) 2018/2023 * ..  | USD | 800 000 |  | % | 100.907 | 720 282.24 | 0.32 |
| 2.11 % Toronto-Dominion Bank/The (MTN) 2019/2022 * ..  | USD | 500 000 |  | % | 100.292 | 447 430.47 | 0.20 |
| 2.792 % Verizon Communications, Inc. (MTN) 2018/2025 * | USD | 1 000 000 | 200 000 | % | 101.034 | 901 490.43 | 0.40 |
| 2.833 % Vodafone Group PLC (MTN) 2018/2024 * .......  | USD | 1 000 000 | 200 000 | % | 99.954 | 891 845.10 | 0.40 |
| 2.671 % Westpac Banking Corp. (MTN) 2017/2022 * .....  | USD | 600 000 |  | % | 100.758 | 539 411.32 | 0.24 |
| 2.418 % Westpac Banking Corp. (MTN) 2017/2023 * .....  | USD | 600 000 |  | % | 100.28 | 536 855.00 | 0.24 |
| 2.412 % Westpac Banking Corp. (MTN) 2018/2023 * .....  | USD | 600 000 |  | % | 100.7 | 539 100.82 | 0.24 |
| 2.687 % Westpac Banking Corp. (MTN) 2019/2024 * .....  | USD | 1 000 000 | 400 000 | % | 100.614 | 897 734.02 | 0.40 |
| 2.233 % Westpac Banking Corp. 2020/2023 * ...........  | USD | 233 000 | 233 000 | % | 99.846 | 207 577.46 | 0.09 |
| Total securities portfolio |  |  |  |  |  | 188 077 572.06 | 83.90 |
| Derivatives (Minus signs denote short positions) |  |  |  |  |  |  |  |
| Currency derivatives Receivables/payables |  |  |  |  |  | 1 072 385.62 | 0.48 |
| Forward currency transactions |  |  |  |  |  |  |  |
| Forward currency transactions (long) |  |  |  |  |  |  |  |
| Open positions CHF/EUR 1.1 million ................................  |  |  |  |  |  | 53 811.98 | 0.02 |
| GBP/EUR 0.1 million ................................  |  |  |  |  |  | -519.55 | 0.00 |
| USD/EUR 8.3 million ................................  |  |  |  |  |  | 43 137.41 | 0.02 |
| Forward currency transactions (short) |  |  |  |  |  |  |  |
| Open positions EUR/USD 52.8 million ...............................  |  |  |  |  |  | 975 955.78 | 0.44 |
| Swaps Receivables/payables |  |  |  |  |  | 7 805.43 | 0.00 |
| Credit default swaps |  |  |  |  |  |  |  |
| Protection seller Barclays Bank PLC / 1% / 20/12/2020 (OTC) (CIT) .........  | Count | 1 000 000 |  |  |  | 3 599.02 | 0.00 |
| Markit iTraxx Europe / 1% / 20/06/2024 (OTC) (DB) ........  | Count | 250 000 |  |  |  | 4 206.41 | 0.00 |

| 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 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash at bank |  |  |  |  |  | 37 708 277.14 | 16.82 |
| Demand deposits at Depositary EUR deposits......................................  | EUR |  |  |  |  | 37 208 676.64 | 16.60 |
| Deposits in non-EU/EEA currencies |  |  |  |  |  |  |  |
| U.S. dollar ........................................  | USD | 59 927 |  |  |  | 53 470.50 | 0.02 |
| Time deposits USD deposits (American Honda Finance, Torrance) ........  | USD | 500 000 |  |  |  | 446 130.00 | 0.20 |
| Other assets |  |  |  |  |  | 1 505 461.77 | 0.67 |
| Interest receivable .................................  |  |  |  |  |  | 340 084.49 | 0.15 |
| Receivables from exceeding the expense cap ............  |  |  |  |  |  | 165 377.28 | 0.07 |
| Other receivables ..................................  |  |  |  |  |  | 1 000 000.00 | 0.45 |
| Receivables from share certificate transactions |  |  |  |  |  | 507 569.83 | 0.23 |
| Total assets ** |  |  |  |  |  | 228 879 591.40 | 102.10 |
| Other liabilities |  |  |  |  |  | -4 640 807.68 | -2.07 |
| Additional other liabilities.............................  |  |  |  |  |  | -4 640 807.68 | -2.07 |
| Liabilities from share certificate transactions |  |  |  |  |  | -65 708.89 | -0.03 |
| Total liabilities |  |  |  |  |  | -4 707 036.12 | -2.10 |
| Net assets |  |  |  |  |  | 224 172 555.28 | 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 CHF ICH.....................................  | CHF | 99.33 |
| Class CHF RCH ....................................  | CHF | 99.26 |
| Class CHF TFCH ...................................  | CHF | 100.26 |
| Class FC .........................................  | EUR | 99.63 |
| Class IC ..........................................  | EUR | 99.72 |
| Class LC .........................................  | EUR | 99.50 |
| Class LD .........................................  | EUR | 100.00 |
| Class TFC ........................................  | EUR | 99.63 |
| Class GBP CH RD ..................................  | GBP | 100.21 |
| Class GBP ICH.....................................  | GBP | 101.13 |
| Class GBP LCH ....................................  | GBP | 100.16 |
| Class USD ICH ....................................  | USD | 102.89 |
| Class USD LCH ....................................  | USD | 100.86 |
| Class USD TFCH ...................................  | USD | 102.82 |
| Number of shares outstanding Class CHF ICH.....................................  | Count | 100 006.000 |
| Class CHF RCH ....................................  | Count | 11 113.301 |
| Class CHF TFCH ...................................  | Count | 196.062 |
| Class FC .........................................  | Count | 100.000 |
| Class IC ..........................................  | Count | 1 603 336.000 |
| Class LC .........................................  | Count | 54 334.876 |
| Class LD .........................................  | Count | 0.010 |
| Class TFC ........................................  | Count | 412 301.510 |
| Class GBP CH RD ..................................  | Count | 86.000 |
| Class GBP ICH.....................................  | Count | 86.000 |
| Class GBP LCH ....................................  | Count | 124.074 |
| Class USD ICH ....................................  | Count | 80 113.000 |
| Class USD LCH ....................................  | Count | 110.000 |
| Class USD TFCH ...................................  | Count | 113.000 |

Presentation of the maximum limit (according to CSSF circular 11/512) 2% of portfolio value (January 1, 2020 - May 14, 2020)
Market risk exposure (value-at-risk) (according to CSSF circular 11/512)
| Lowest market risk exposure .........................  | % | 0.084 |
| --- | --- | --- |
| Highest market risk exposure .........................  | % | 1.828 |
| Average market risk exposure ........................  | % | 0.712 |

The values-at-risk were calculated for the period from January 1, 2020, through May 14, 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 absolute value-at-risk approachas defined in CSSF circular 11/512.
Presentation of the maximum limit (according to CSSF circular 11/512) 5% of portfolio value (May 15, 2020 - June 30, 2020)
Market risk exposure (value-at-risk) (according to CSSF circular 11/512)
| Lowest market risk exposure .........................  | % | 0.758 |
| --- | --- | --- |
| Highest market risk exposure .........................  | % | 1.186 |
| Average market risk exposure ........................  | % | 0.900 |

The values-at-risk were calculated for the period from May 15, 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 absolute value-at-risk approachas defined in CSSF circular 11/512.
In the reporting period, the average leverage effect from the use of derivatives was 0.2, 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 48 200 029.00 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	 Contracting parties for derivatives (with the exception of forward currency transactions)
CIT = Citibank AG
DB = Deutsche Bank AG Frankfurt
Contracting parties for forward currency transactions
BNP Paribas SA, Bofa Securities Europe, Citigroup Global Markets Limited, HSBC France, JP Morgan, Royal Bank of Canada (UK) and State Street Bank London
 Exchange rates (indirect quotes)	
As of June 30, 2020
U.S. dollar ..................... .  USD 1.120750	= EUR	1
 Erläuterungen zur Bewertung	
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, 2020-06-30):
# DWS Invest ESG Floating Rate Notes
DWS INVEST ESG FLOATING RATE NOTES

### Wertentwicklung der Anteilklassen (in EUR)
| Anteilklasse | ISIN | 6 Monate |
| --- | --- | --- |
| Klasse LC | LU1965927921 | -0,5% |
| Klasse FC | LU1965927681 | -0,4% |
| Klasse IC | LU1965927848 | -0,4% |
| Klasse TFC | LU1965928069 | -0,4% |
| Klasse CHF ICH 2) | LU2096458232 | -0,7% 1) |
| Klasse CHF RCH 2) | LU2059790340 | -0,7% |
| Klasse CHF TFCH 2) | LU2011205866 | -0,1% |
| Klasse GBP CH RD 3) | LU2066748810 | 0,1% |
| Klasse GBP ICH 3) | LU1965927764 | 0,1% |
| Klasse GBP LCH 3) | LU2066748901 | 0,0% |
| Klasse USD ICH 4) | LU1965928143 | 0,6% |
| Klasse USD LCH 4) | LU2066749032 | 0,6% |
| Klasse USD TFCH 4) | LU1965928226 | 0,6% |

1) 
Klasse CHF ICH aufgelegt am 20.1.2020
2) 
in CHF
3) 
in GBP
4) 
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 Floating Rate Notes
| Vermögensübersicht zum 30.6.2020 |  |
| --- | --- |
|  | Bestand in EUR | %-Anteil am Fondsvermögen |
| I. Vermögensgegenstände |  |  |
| 1. Anleihen (Emittenten) Unternehmen | 184 234 793,06 | 82,18 |
| Zentralregierungen | 3 842 779,00 | 1,72 |
| Summe Anleihen | 188 077 572,06 | 83,90 |
| 2. Derivate | 1 080 191,05 | 0,48 |
| 3. Bankguthaben | 37 708 277,14 | 16,82 |
| 4. Sonstige Vermögensgegenstände | 1 505 461,77 | 0,67 |
| 5. Forderungen aus Anteilscheingeschäften | 507 569,83 | 0,23 |
| II. Verbindlichkeiten |  |  |
| 1. Sonstige Verbindlichkeiten | -4 640 807,68 | - 2,07 |
| 2. Verbindlichkeiten aus Anteilscheingeschäften | -65 708,89 | - 0,03 |
| III. Fondsvermögen | 224 172 555,28 | 100,00 |
| Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein. |  |  |

| Vermögensaufstellung zum 30.6.2020 |  |
| --- | --- |
|  | 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 |  |  |  |  |  | 153 910 272,14 | 68,66 |
| Verzinsliche Wertpapiere 1,00  % ABB Finance BV (MTN) 2019/2020 * ...........  | EUR | 1 200 000 | 400 000 | % | 100,016 | 1 200 198,00 | 0,54 |
| 0,178 % ABN AMRO Bank NV (MTN) 2000/2020 * .......  | EUR | 1 200 000 |  | % | 100 | 1 199 994,00 | 0,54 |
| 1,00  % ABN AMRO Bank NV (MTN) 2018/2021 * .......  | EUR | 600 000 |  | % | 100,25 | 601 500,00 | 0,27 |
| 0,011 % ABN AMRO Bank NV (MTN) 2019/2021 * .......  | EUR | 400 000 |  | % | 100,15 | 400 598,00 | 0,18 |
| 0,105 % Allianz Finance II BV (MTN) 2017/2020 * ........  | EUR | 1 500 000 |  | % | 100,131 | 1 501 965,00 | 0,67 |
| 4,125 % Allied Irish Banks PLC (MTN) 2015/2025 * ......  | EUR | 1 000 000 | 500 000 | % | 100,379 | 1 003 790,00 | 0,45 |
| 1,00  % Anheuser-Busch InBev SA/NV (MTN) 2018/2024 * | EUR | 1 400 000 | 700 000 | % | 98,469 | 1 378 566,00 | 0,61 |
| 0,45  % AT&T, Inc. (MTN) 2018/2023 * ...............  | EUR | 1 000 000 | 400 000 | % | 99,323 | 993 230,00 | 0,44 |
| 0,002 % AT&T, Inc. 2018/2020 * .....................  0,207 % Banco Bilbao Vizcaya Argentaria SA (MTN) 2017/2022 * ..............................  | EUR EUR | 600 000 1 000 000 | 200 000 | % % | 100,05 99,897 | 600 300,00 998 970,00 | 0,27 0,45 |
| 0,205 % Banco Bilbao Vizcaya Argentaria SA (MTN) |  |  |  |  |  |  |  |  |
| 2018/2023 * ..............................  | EUR | 1 400 000 | 600 000 | % | 98,512 | 1 379 168,00 | 0,61 |
| 0,622 % Banco Santander SA (MTN) 2017/2022 * .......  | EUR | 1 000 000 | 500 000 | % | 99,961 | 999 610,00 | 0,45 |
| 0,401 % Banco Santander SA (MTN) 2017/2023 * .......  | EUR | 700 000 | 700 000 | % | 99,504 | 696 524,50 | 0,31 |
| 0,387 % Bank of America Corp. (MTN) 2017/2023 * ......  | EUR | 1 000 000 | 500 000 | % | 100,17 | 1 001 705,00 | 0,45 |
| 0,314 % Bank of America Corp. (MTN) 2018/2024 * ......  | EUR | 800 000 | 200 000 | % | 99,644 | 797 152,00 | 0,36 |
| 0,102 % Bank of Montreal (MTN) 2017/2021 * ..........  | EUR | 1 200 000 | 600 000 | % | 100,37 | 1 204 440,00 | 0,54 |
| 0,105 % Bank of Montreal (MTN) 2018/2022 * ..........  | EUR | 1 000 000 | 500 000 | % | 100,19 | 1 001 900,00 | 0,45 |
| 0,221 % Bank of Nova Scotia/The (MTN) 2017/2022 * ....  | EUR | 1 200 000 |  | % | 100,289 | 1 203 468,00 | 0,54 |
| 0,009 % Bank of Nova Scotia/The (MTN) 2019/2021 * ....  | EUR | 400 000 |  | % | 100,14 | 400 558,00 | 0,18 |
| 0,072 % Barclays Bank PLC (MTN) 2001/2021 * .........  | EUR | 400 000 |  | % | 99,258 | 397 030,00 | 0,18 |
| 0,055 % Barclays Bank PLC (MTN) 2017/2020 * .........  | EUR | 600 000 |  | % | 100,052 | 600 312,00 | 0,27 |
| 0,089 % BMW Finance NV (MTN) 2019/2021 * .........  | EUR | 500 000 |  | % | 99,892 | 499 460,00 | 0,22 |
| 0,087 % BMW Finance NV (MTN) 2020/2022 * .........  | EUR | 1 000 000 | 1 000 000 | % | 99,764 | 997 645,00 | 0,44 |
| 0,452 % BNP Paribas SA (MTN) 2017/2022 * ...........  | EUR | 2 500 000 | 2 000 000 | % | 100,569 | 2 514 225,00 | 1,12 |
| 0,355 % BNP Paribas SA (MTN) 2017/2024 * ...........  | EUR | 1 200 000 | 500 000 | % | 99,557 | 1 194 684,00 | 0,53 |
| 1,00  % BNP Paribas SA (MTN) 2018/2023 * ...........  | EUR | 1 000 000 | 500 000 | % | 99,152 | 991 525,00 | 0,44 |
| 0,21  % BNP Paribas SA (MTN) 2018/2023 * ...........  | EUR | 800 000 |  | % | 99,61 | 796 876,00 | 0,36 |
| 0,502 % BPCE SA (MTN) 2014/2021 * ................  | EUR | 1 000 000 | 1 000 000 | % | 100,349 | 1 003 490,00 | 0,45 |
| 0,655 % BPCE SA (MTN) 2017/2022 * ................  | EUR | 700 000 |  | % | 100,826 | 705 785,50 | 0,31 |
| 0,107 % BPCE SA (MTN) 2018/2023 * ................  | EUR | 1 200 000 | 400 000 | % | 99,09 | 1 189 086,00 | 0,53 |
| 0,102 % BPCE SA (MTN) 2018/2023 * ................  0,20 % Canadian Imperial Bank of Commerce (MTN) 2018/2021 * ..............................  | EUR EUR | 800 000 600 000 |  | % % | 99,253 100,414 | 794 024,00 602 481,00 | 0,35 0,27 |
| 0,287 % Carrefour Banque SA (MTN) 2016/2021 * .......  | EUR | 1 000 000 | 500 000 | % | 100,114 | 1 001 145,00 | 0,45 |
| 0,225 % Carrefour Banque SA (MTN) 2018/2022 * .......  | EUR | 1 000 000 | 300 000 | % | 99,97 | 999 705,00 | 0,45 |
| 0,257 % Carrefour Banque SA 2019/2023 * ............  | EUR | 1 200 000 | 500 000 | % | 99,36 | 1 192 326,00 | 0,53 |
| 0,097 % Cassa Depositi e Prestiti SpA (MTN) 2015/2022 * | EUR | 700 000 | 200 000 | % | 99,426 | 695 982,00 | 0,31 |
| 0,102 % Citigroup, Inc. (MTN) 2018/2023 * .............  | EUR | 1 500 000 | 900 000 | % | 99,528 | 1 492 920,00 | 0,67 |
| 1,00  % Coca-Cola Co./The 2019/2021 * ...............  | EUR | 600 000 |  | % | 100,06 | 600 357,00 | 0,27 |
| 1,00  % Coca-Cola European Partners PLC 2017/2021 * ..  | EUR | 1 800 000 | 800 000 | % | 99,906 | 1 798 308,00 | 0,80 |
| 7,75  % Commerzbank AG (MTN) 2011/2021 ...........  | EUR | 800 000 | 300 000 | % | 104,172 | 833 372,00 | 0,37 |
| 0,355 % Commerzbank AG (MTN) 2017/2022 * .........  | EUR | 1 000 000 | 500 000 | % | 99,52 | 995 200,00 | 0,44 |
| 0,05  % Commerzbank AG (MTN) 2018/2020 * .........  | EUR | 1 500 000 | 1 000 000 | % | 100,092 | 1 501 380,00 | 0,67 |
| 2,50  % Cooperatieve Rabobank UA 2014/2026 * .......  | EUR | 1 000 000 | 300 000 | % | 101,136 | 1 011 365,00 | 0,45 |
| 0,407 % Credit Agricole SA/London (MTN) 2017/2022 * ...  | EUR | 900 000 |  | % | 100,47 | 904 230,00 | 0,40 |
| 0,207 % Credit Agricole SA/London (MTN) 2018/2023 * ...  | EUR | 1 500 000 | 800 000 | % | 99,715 | 1 495 725,00 | 0,67 |
| 0,157 % Credit Agricole SA/London (MTN) 2019/2022 * ...  | EUR | 700 000 |  | % | 100,398 | 702 782,50 | 0,31 |
| 0,688 % Credit Suisse AG/London (MTN) 2020/2022 * .... 1,127 % Crédit Suisse Group Funding Guernsey Ltd (MTN) 2015/2022 * ..............................  | EUR EUR | 1 320 000 700 000 | 1 320 000 | % % | 101,025 100,918 | 1 333 530,00 706 426,00 | 0,59 0,31 |
| 0,067 % Daimler AG (MTN) 2017/2024 * ...............  1,00  % Daimler International Finance BV (MTN) 2017/2022 * ..............................  | EUR EUR | 1 000 000 500 000 | 200 000 | % % | 96,144 99,16 | 961 445,00 495 797,50 | 0,43 0,22 |
| 1,00  % Daimler International Finance BV (MTN) |  |  |  |  |  |  |  |  |
| 2018/2023 * ..............................  | EUR | 1 000 000 | 400 000 | % | 98,47 | 984 695,00 | 0,44 |
| 0,105 % Deutsche Bank AG (MTN) 2017/2020 * ........  | EUR | 1 200 000 | 400 000 | % | 99,8 | 1 197 600,00 | 0,53 |
| 0,389 % Deutsche Bank AG (MTN) 2017/2022 * ........  | EUR | 800 000 | 200 000 | % | 97,716 | 781 732,00 | 0,35 |
| 0,499 % Deutsche Pfandbriefbank AG 2020/2023 * ...... 1,00  % Deutsche Telekom International Finance BV (MTN) 2018/2022 * ..............................  | EUR EUR | 1 000 000 1 800 000 | 1 000 000 | % % | 99,412 100,188 | 994 120,00 1 803 384,00 | 0,44 0,80 |
| 1,00  % DNB Bank ASA (MTN) 2015/2020 * ...........  | EUR | 500 000 |  | % | 100,056 | 500 282,50 | 0,22 |
| 0,364 % DNB Bank ASA (MTN) 2019/2022 * ...........  | EUR | 2 400 000 | 1 500 000 | % | 100,856 | 2 420 544,00 | 1,08 |
| 0,005 % Euroclear Bank SA (MTN) 2018/2021 * .........  | EUR | 500 000 |  | % | 100,161 | 500 805,00 | 0,22 |
| 1,463 % European Investment Bank (MTN) 2019/2022 * ..  | EUR | 1 500 000 | 1 400 000 | % | 104,422 | 1 566 322,50 | 0,70 |
| 0,025 % Ford Motor Credit Co., LLC (MTN) 2018/2022 * ..  | EUR | 300 000 |  | % | 91,262 | 273 787,50 | 0,12 |
| 1,00  % Gecina SA (MTN) 2017/2022 * ...............  | EUR | 1 800 000 |  | % | 99,332 | 1 787 976,00 | 0,80 |
| 0,202 % GlaxoSmithKline Capital PLC (MTN) 2019/2021 * . | EUR | 1 000 000 |  | % | 100,224 | 1 002 235,00 | 0,45 |
| 0,00  % GlaxoSmithKline Capital PLC 2017/2020 ........  | EUR | 1 508 000 | 1 508 000 | % | 99,999 | 1 507 984,92 | 0,67 |
| 0,235 % Goldman Sachs Group, Inc. (MTN) 2017/2022 * .. 0,614 % Goldman Sachs Group, Inc./The (MTN) 2016/2021 * ..............................  | EUR EUR | 1 100 000 600 000 | 500 000 | % % | 99,474 100,507 | 1 094 214,00 603 042,00 | 0,49 0,27 |
| 0,159 % Goldman Sachs Group, Inc./The (MTN) |  |  |  |  |  |  |  |  |
| 2020/2023 * ..............................  | EUR | 900 000 | 900 000 | % | 98,756 | 888 804,00 | 0,40 |
| 0,205 % HSBC Bank PLC (MTN) 2019/2021 * ...........  | EUR | 400 000 |  | % | 100,338 | 401 350,00 | 0,18 |

| Wertpapierbezeichnung | Stück bzw. Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Währung	Bestand	im Berichtszeitraum	EUR	vermögen |
| 0,301 % HSBC Holdings PLC (MTN) 2017/2022 * ........  | EUR | 1 200 000 | 500 000 | % | 99,974 | 1 199 694,00 | 0,53 |
| 0,121 % HSBC Holdings PLC (MTN) 2017/2023 * ........  | EUR | 1 500 000 | 1 000 000 | % | 98,876 | 1 483 147,50 | 0,66 |
| 1,00  % ING Bank NV (MTN) 2018/2020 * .............  | EUR | 300 000 |  | % | 100,16 | 300 480,00 | 0,13 |
| 0,006 % ING Bank NV (MTN) 2018/2021 * .............  | EUR | 300 000 |  | % | 100,312 | 300 937,50 | 0,13 |
| 0,015 % ING Bank NV (MTN) 2019/2021 * .............  | EUR | 1 000 000 |  | % | 100,221 | 1 002 210,00 | 0,45 |
| 0,015 % ING Bank NV 2019/2022 * ...................  | EUR | 700 000 |  | % | 100,154 | 701 081,50 | 0,31 |
| 0,447 % ING Groep NV (MTN) 2018/2023 * ............  | EUR | 500 000 |  | % | 100,039 | 500 195,00 | 0,22 |
| 0,557 % Intesa Sanpaolo SpA (MTN) 2017/2022 * .......  | EUR | 1 700 000 | 1 000 000 | % | 99,703 | 1 694 951,00 | 0,76 |
| 0,975 % Intesa Sanpaolo SpA (MTN) 2017/2023 * .......  | EUR | 800 000 | 200 000 | % | 99,552 | 796 420,00 | 0,36 |
| 0,305 % Intesa Sanpaolo SpA (MTN) 2019/2022 * .......  | EUR | 400 000 |  | % | 98,649 | 394 596,00 | 0,18 |
| 0,21  % Italy Certificati di Credito del Tesoro/ CCTS-eu (MTN) |  |  |  |  |  |  |  |
| 2015/2022 * ..............................  | EUR | 600 000 |  | % | 100,124 | 600 747,00 | 0,27 |
| 1,00  % John Deere Bank SA (MTN) 2017/2022 * .......  | EUR | 700 000 |  | % | 99,173 | 694 211,00 | 0,31 |
| 1,00 % John Deere Cash Management SA (MTN) |  |  |  |  |  |  |  |
| 2017/2020 * ..............................  | EUR | 400 000 |  | % | 100,008 | 400 032,00 | 0,18 |
| 0,14  % KBC Group NV (MTN) 2017/2022 * ............  | EUR | 1 500 000 | 300 000 | % | 99,704 | 1 495 560,00 | 0,67 |
| 1,462 % Kreditanstalt fuer Wiederaufbau 2019/2022 * ....  | EUR | 500 000 |  | % | 104,607 | 523 035,00 | 0,23 |
| 0,284 % Land Baden-Wuerttemberg 2020/2022 * .......  | EUR | 2 500 000 | 2 500 000 | % | 101,842 | 2 546 050,00 | 1,14 |
| 0,107 % Landesbank Baden-Wuerttemberg (MTN) |  |  |  |  |  |  |  |
| 2018/2020 * ..............................  | EUR | 500 000 |  | % | 100,028 | 500 137,50 | 0,22 |
| 0,257 % Landesbank Baden-Wuerttemberg (MTN) |  |  |  |  |  |  |  |  |
| 2020/2022 * ..............................  | EUR | 1 500 000 | 1 500 000 | % | 99,95 | 1 499 250,00 | 0,67 |
| 3,875 % Lincoln Financing SARL -Reg- (MTN) 2019/2024 * | EUR | 100 000 |  | % | 92,799 | 92 799,00 | 0,04 |
| 0,382 % Lloyds Banking Group PLC (MTN) 2017/2024 * ..  | EUR | 1 200 000 | 600 000 | % | 99,21 | 1 190 520,00 | 0,53 |
| 0,00  % LVMH Moet Hennessy Louis Vuitton SE (MTN) |  |  |  |  |  |  |  |
| 2020/2022 * ..............................  | EUR | 1 300 000 | 1 300 000 | % | 99,89 | 1 298 570,00 | 0,58 |
| 0,401 % Mediobanca Banca di Credito Finanziario SpA |  |  |  |  |  |  |  |  |
| (MTN) 2017/2022 * ........................  | EUR | 1 280 000 | 1 280 000 | % | 99,212 | 1 269 907,20 | 0,57 |
| 0,11  % Mizuho Financial Group, Inc. (MTN) 2018/2023 * . | EUR | 600 000 |  | % | 99,123 | 594 738,00 | 0,27 |
| 0,314 % Morgan Stanley (MTN) 2016/2022 * ...........  | EUR | 600 000 |  | % | 100,102 | 600 609,00 | 0,27 |
| 0,00  % Morgan Stanley (MTN) 2017/2021 * ...........  | EUR | 1 000 000 |  | % | 99,972 | 999 715,00 | 0,45 |
| 0,301 % Morgan Stanley (MTN) 2017/2022 * ...........  | EUR | 700 000 |  | % | 99,906 | 699 342,00 | 0,31 |
| 1,00  % Morgan Stanley (MTN) 2018/2021 * ...........  | EUR | 400 000 |  | % | 100,158 | 400 632,00 | 0,18 |
| 0,179 % National Australia Bank Ltd (MTN) 2016/2021 * ..  | EUR | 800 000 |  | % | 100,332 | 802 652,00 | 0,36 |
| 0,308 % National Bank of Canada (MTN) 2019/2021 * ....  | EUR | 500 000 |  | % | 100,499 | 502 495,00 | 0,22 |
| 0,501 % NatWest Markets PLC (MTN) 2018/2021 * ......  | EUR | 400 000 |  | % | 100,504 | 402 018,00 | 0,18 |
| 0,175 % NatWest Markets PLC (MTN) 2019/2021 * ......  | EUR | 600 000 |  | % | 100,154 | 600 927,00 | 0,27 |
| 0,101 % Nordea Bank AB (MTN) 2017/2021 * ..........  | EUR | 600 000 |  | % | 100,418 | 602 508,00 | 0,27 |
| 4,00  % Nordea Bank Abp (MTN) 2010/2021 ...........  | EUR | 400 000 |  | % | 102,321 | 409 284,00 | 0,18 |
| 1,875 % Nordea Bank Abp (MTN) 2015/2025 * ..........  | EUR | 1 440 000 | 1 440 000 | % | 100,339 | 1 444 881,60 | 0,64 |
| 0,10  % Nordea Bank Abp (MTN) 2018/2022 * ..........  | EUR | 700 000 |  | % | 100,362 | 702 537,50 | 0,31 |
| 0,112 % Nykredit Realkredit A/S (MTN) 2017/2022 * .....  | EUR | 600 000 |  | % | 100,552 | 603 315,00 | 0,27 |
| 0,357 % OP Corporate Bank plc (MTN) 2017/2022 * .....  | EUR | 1 000 000 |  | % | 100,822 | 1 008 215,00 | 0,45 |
| 0,09  % OP Corporate Bank plc (MTN) 2018/2021 * .....  | EUR | 2 000 000 | 1 600 000 | % | 100,256 | 2 005 130,00 | 0,89 |
| 0,132 % RCI Banque SA (MTN) 2017/2020 * ...........  | EUR | 1 500 000 | 1 500 000 | % | 100,017 | 1 500 255,00 | 0,67 |
| 0,257 % RCI Banque SA (MTN) 2017/2021 * ...........  | EUR | 500 000 |  | % | 99,1 | 495 500,00 | 0,22 |
| 0,275 % RCI Banque SA (MTN) 2017/2022 * ...........  | EUR | 1 100 000 | 300 000 | % | 97,886 | 1 076 751,50 | 0,48 |
| 0,037 % RCI Banque SA (MTN) 2018/2023 * ...........  | EUR | 1 400 000 | 700 000 | % | 96,044 | 1 344 616,00 | 0,60 |
| 0,034 % Royal Bank of Canada (MTN) 2015/2020 * ......  | EUR | 800 000 |  | % | 100,042 | 800 336,00 | 0,36 |
| 0,11  % Royal Bank of Canada (MTN) 2018/2020 * ......  | EUR | 500 000 |  | % | 100,044 | 500 222,50 | 0,22 |
| 0,364 % Royal Bank of Canada (MTN) 2019/2021 * ......  | EUR | 800 000 |  | % | 100,306 | 802 452,00 | 0,36 |
| 0,367 % Santander UK Group Holdings PLC (MTN) |  |  |  |  |  |  |  |
| 2017/2023 * ..............................  | EUR | 1 200 000 | 700 000 | % | 98,598 | 1 183 176,00 | 0,53 |
| 0,451 % Santander UK Group Holdings PLC (MTN) |  |  |  |  |  |  |  |  |
| 2018/2024 * ..............................  | EUR | 975 000 | 975 000 | % | 97,844 | 953 974,13 | 0,43 |
| 0,00  % SAP SE 2018/2020 * .......................  | EUR | 1 500 000 |  | % | 100,016 | 1 500 232,50 | 0,67 |
| 1,00  % SAP SE 2018/2021 * .......................  | EUR | 1 500 000 |  | % | 99,972 | 1 499 587,50 | 0,67 |
| 0,304 % Siemens Financieringsmaatschappij NV (MTN) |  |  |  |  |  |  |  |
| 2019/2021 * ..............................  | EUR | 1 200 000 |  | % | 100,479 | 1 205 748,00 | 0,54 |
| 1,00  % Skandinaviska Enskilda Banken AB (MTN) |  |  |  |  |  |  |  |  |
| 2015/2020 * ..............................  | EUR | 2 000 000 | 1 000 000 | % | 100,094 | 2 001 870,00 | 0,89 |
| 0,198 % Snam SpA (MTN) 2017/2022 * ...............  | EUR | 700 000 |  | % | 99,726 | 698 082,00 | 0,31 |
| 0,002 % Snam SpA (MTN) 2017/2024 * ...............  | EUR | 1 000 000 | 500 000 | % | 97,345 | 973 450,00 | 0,43 |
| 0,462 % Société Générale SA (MTN) 2017/2022 * .......  | EUR | 400 000 |  | % | 100,144 | 400 578,00 | 0,18 |
| 0,39  % Société Générale SA (MTN) 2017/2024 * .......  | EUR | 800 000 | 100 000 | % | 99,204 | 793 636,00 | 0,35 |
| 0,057 % Société Générale SA (MTN) 2018/2023 * .......  | EUR | 1 200 000 | 400 000 | % | 98,762 | 1 185 144,00 | 0,53 |
| 0,257 % Société Générale SA (MTN) 2019/2021 * .......  | EUR | 900 000 | 500 000 | % | 100,338 | 903 037,50 | 0,40 |
| 0,084 % SSE PLC (MTN) 2018/2020 * .................  | EUR | 400 000 |  | % | 99,958 | 399 834,00 | 0,18 |
| 4,00  % Standard Chartered PLC (MTN) 2013/2025 * ....  | EUR | 1 200 000 | 700 000 | % | 100,749 | 1 208 988,00 | 0,54 |
| 0,00  % Stedin Holding NV (MTN) 2017/2022 * .........  | EUR | 1 000 000 | 1 000 000 | % | 99,478 | 994 785,00 | 0,44 |
| 0,055 % Sumitomo Mitsui Financial Group, Inc. (MTN) |  |  |  |  |  |  |  |
| 2017/2022 * ..............................  | EUR | 400 000 |  | % | 99,474 | 397 896,00 | 0,18 |
| 0,099 % Svenska Handelsbanken AB (MTN) 2018/2020 * . | EUR | 800 000 |  | % | 100,054 | 800 428,00 | 0,36 |
| 0,087 % Swedbank AB (MTN) 2015/2020 * ............  | EUR | 500 000 |  | % | 100,071 | 500 355,00 | 0,22 |
| 0,148 % Takeda Pharmaceutical Co., Ltd -Reg- 2018/2020 * | EUR | 1 200 000 | 600 000 | % | 100,074 | 1 200 888,00 | 0,54 |
| 0,698 % Takeda Pharmaceutical Co., Ltd -Reg- 2018/2022 * | EUR | 1 500 000 | 700 000 | % | 100,716 | 1 510 740,00 | 0,67 |
| 4,875 % Telecom Italia SpA/Milano (MTN) 2013/2020 ....  | EUR | 2 000 000 | 2 000 000 | % | 100,974 | 2 019 470,00 | 0,90 |
| 0,107 % Toronto-Dominion Bank/The (MTN) 2018/2020 * . | EUR | 500 000 |  | % | 100,021 | 500 105,00 | 0,22 |
| 0,314 % Toyota Motor Finance Netherlands BV (MTN) |  |  |  |  |  |  |  |
| 2019/2021 * ..............................  | EUR | 300 000 |  | % | 100,372 | 301 114,50 | 0,13 |
| 0,102 % Toyota Motor Finance Netherlands BV (MTN) |  |  |  |  |  |  |  |  |
| 2019/2022 * ..............................  | EUR | 600 000 | % | 99,617 | 597 702,00 | 0,27 |

| Wertpapierbezeichnung | Stück bzw. Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Währung	Bestand	im Berichtszeitraum	EUR	vermögen |
| 0,108 % UBS AG/London (MTN) 2018/2021 * ...........  | EUR | 500 000 |  | % | 100,266 | 501 332,50 | 0,22 |
| 0,297 % UBS Group Funding Switzerland AG (MTN) |  |  |  |  |  |  |  |
| 2017/2022 * ..............................  | EUR | 1 000 000 | 400 000 | % | 100,06 | 1 000 605,00 | 0,45 |
| 0,31  % UniCredit SpA (MTN) 2016/2023 * ............  | EUR | 1 400 000 | 1 400 000 | % | 97,77 | 1 368 787,00 | 0,61 |
| 0,041 % United Parcel Service, Inc. (MTN) 2015/2020 * ...  | EUR | 300 000 |  | % | 100,013 | 300 039,00 | 0,13 |
| 0,10  % Volvo Treasury AB (MTN) 2019/2021 * .........  | EUR | 800 000 | 800 000 | % | 99,845 | 798 760,00 | 0,36 |
| 0,257 % Volvo Treasury AB (MTN) 2019/2021 * .........  | EUR | 1 000 000 |  | % | 100,014 | 1 000 145,00 | 0,45 |
| 0,121 % Volvo Treasury AB (MTN) 2019/2021 * .........  | EUR | 500 000 |  | % | 99,953 | 499 765,00 | 0,22 |
| 0,052 % Vonovia Finance BV (MTN) 2018/2022 * ........  | EUR | 1 500 000 | 500 000 | % | 99,068 | 1 486 012,50 | 0,66 |
| 0,066 % Westpac Banking Corp. (MTN) 2018/2020 * .....  | EUR | 500 000 |  | % | 100,172 | 500 860,00 | 0,22 |
| 0,047 % WPP Finance 2013 (MTN) 2018/2022 * ........  | EUR | 1 800 000 | 800 000 | % | 98,13 | 1 766 349,00 | 0,79 |
| 2,619 % ABN AMRO Bank NV (MTN) 2017/2022 * .......  | USD | 500 000 |  | % | 100,41 | 447 959,13 | 0,20 |
| 2,588 % Anheuser-Busch InBev Worldwide, Inc. (MTN) |  |  |  |  |  |  |  |
| 2018/2024 * ..............................  | USD | 400 000 |  | % | 99,942 | 356 697,00 | 0,16 |
| 2,357 % AstraZeneca PLC (MTN) 2018/2023 * ..........  | USD | 800 000 | 400 000 | % | 99,902 | 713 112,04 | 0,32 |
| 2,382 % Bank of Communications Co., Ltd/Hong Kong |  |  |  |  |  |  |  |
| (MTN) 2020/2023 * ........................  | USD | 1 200 000 | 1 200 000 | % | 99,078 | 1 060 845,39 | 0,47 |
| 3,459 % Barclays PLC (MTN) 2017/2023 * .............  | USD | 1 000 000 | 600 000 | % | 100,293 | 894 874,32 | 0,40 |
| 3,072 % Barclays PLC (MTN) 2018/2024 * .............  | USD | 400 000 |  | % | 99,109 | 353 723,99 | 0,16 |
| 2,793 % First Abu Dhabi Bank PJSC (MTN) 2019/2022 * ..  | USD | 800 000 | 400 000 | % | 99,88 | 712 947,86 | 0,32 |
| 2,772 % First Abu Dhabi Bank PJSC (MTN) 2019/2024 * ..  | USD | 600 000 |  | % | 98 | 524 648,88 | 0,23 |
| 2,692 % HSBC Holdings PLC (MTN) 2018/2024 * ........  | USD | 500 000 | 500 000 | % | 99,566 | 444 196,03 | 0,20 |
| 3,111 % ING Groep NV (MTN) 2017/2022 * ............  | USD | 500 000 |  | % | 100,648 | 449 023,15 | 0,20 |
| 2,232 % Lloyds Bank PLC 2018/2021 * ................  | USD | 200 000 |  | % | 100,21 | 178 826,75 | 0,08 |
| 2,647 % Mitsubishi UFJ Financial Group, Inc. (MTN) |  |  |  |  |  |  |  |
| 2018/2023 * ..............................  | USD | 1 000 000 | 1 000 000 | % | 99,684 | 889 436,00 | 0,40 |
| 2,682 % Mizuho Financial Group, Inc. (MTN) 2018/2023 * . | USD | 1 000 000 | 600 000 | % | 99,522 | 887 990,54 | 0,40 |
| 2,309 % Mizuho Financial Group, Inc. 2020/2024 * .......  | USD | 1 000 000 | 1 000 000 | % | 97,818 | 872 790,89 | 0,39 |
| 3,497 % Royal Bank of Scotland Group PLC (MTN) |  |  |  |  |  |  |  |
| 2018/2024 * ..............................  | USD | 500 000 |  | % | 99,814 | 445 300,20 | 0,20 |
| 2,20  % Santander UK PLC 2018/2021 * ..............  | USD | 400 000 |  | % | 100,328 | 358 074,65 | 0,16 |
| 3,091 % Standard Chartered PLC -144A- 2019/2022 * ....  | USD | 800 000 |  | % | 100,176 | 715 064,30 | 0,32 |
| 2,643 % Sumitomo Mitsui Financial Group, Inc. (MTN) |  |  |  |  |  |  |  |
| 2018/2023 * ..............................  | USD | 1 000 000 | 200 000 | % | 99,466 | 887 495,33 | 0,40 |
| 2,594 % Swedbank AB -144A- (MTN) 2017/2022 * .......  | USD | 400 000 |  | % | 100,224 | 357 703,47 | 0,16 |
| 2,758 % Tencent Holdings Ltd -Reg- (MTN) 2019/2024 * ..  | USD | 800 000 |  | % | 98,79 | 705 174,49 | 0,31 |
| 2,903 % UBS Group Funding Switzerland AG -144A- (MTN) |  |  |  |  |  |  |  |
| 2017/2023 * ..............................  | USD | 800 000 | 200 000 | % | 100,94 | 720 521,36 | 0,32 |
| 2,642 % UBS Group Funding Switzerland AG -Reg- (MTN) |  |  |  |  |  |  |  |  |
| 2017/2023 * ..............................  | USD | 800 000 | % | 100,25 | 715 592,52 | 0,32 |

| 0,275 % Ford Motor Credit Co. LLC (MTN) 2017/2024 * ..  | EUR | 200 000 |  | % | 84,447 | 168 894,00 | 0,07 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 1,875 % IBM Corp. (MTN) 2014/2020 .................  | EUR | 1 000 000 | 1 000 000 | % | 100,608 | 1 006 080,00 | 0,45 |
| 2,346 % AbbVie, Inc. -144A- 2019/2022 * ..............  | USD | 1 400 000 | 600 000 | % | 100,329 | 1 253 273,75 | 0,56 |
| 2,513 % American Express Co. (MTN) 2018/2023 * ......  | USD | 400 000 |  | % | 100,434 | 358 454,75 | 0,16 |
| 2,217 % American Express Co. 2018/2021 * ............  | USD | 400 000 |  | % | 100,32 | 358 046,09 | 0,16 |
| 2,315 % American Express Co. 2019/2022 * ............  | USD | 200 000 |  | % | 100,342 | 179 063,20 | 0,08 |
| 2,238 % American Honda Finance Corp. (MTN) 2019/2021 * | USD | 300 000 | 300 000 | % | 99,94 | 267 518,73 | 0,12 |
| 2,487 % American Honda Finance Corp. (MTN) 2019/2022 * | USD | 800 000 |  | % | 99,796 | 712 351,83 | 0,32 |
| 2,234 % Apple, Inc. (MTN) 2017/2022 * ...............  | USD | 400 000 |  | % | 100,656 | 359 243,51 | 0,16 |
| 2,594 % AT&T, Inc. (MTN) 2018/2023 * ...............  | USD | 600 000 |  | % | 100,455 | 537 790,26 | 0,24 |
| 3,067 % AT&T, Inc. (MTN) 2018/2024 * ...............  | USD | 600 000 |  | % | 100,4 | 537 497,42 | 0,24 |
| 2,403 % Australia & New Zealand Banking Group Ltd -144A- |  |  |  |  |  |  |  |
| (MTN) 2017/2022 * ........................  | USD | 400 000 |  | % | 100,75 | 359 582,56 | 0,16 |
| 2,314 % Australia & New Zealand Banking Group Ltd -144A- |  |  |  |  |  |  |  |
| (MTN) 2017/2022 * ........................  | USD | 800 000 | 400 000 | % | 100,528 | 717 573,34 | 0,32 |
| 2,186 % Australia & New Zealand Banking Group Ltd -144A- |  |  |  |  |  |  |  |
| 2019/2022 * ..............................  | USD | 750 000 |  | % | 100,252 | 670 881,37 | 0,30 |
| 2,801 % Bank of America Corp. (MTN) 2017/2023 * ......  | USD | 400 000 |  | % | 100,52 | 358 758,12 | 0,16 |
| 2,511 % Bank of America Corp. (MTN) 2018/2026 * ......  | USD | 600 000 | 100 000 | % | 98,614 | 527 935,97 | 0,23 |
| 2,523 % Bank of Nova Scotia/The (MTN) 2017/2022 * ....  | USD | 400 000 |  | % | 100,598 | 359 038,29 | 0,16 |
| 2,549 % Banque Federative du Credit Mutuel SA -144A- |  |  |  |  |  |  |  |
| (MTN) 2017/2022 * ........................  | USD | 400 000 |  | % | 100,466 | 358 568,96 | 0,16 |
| 2,779 % Banque Federative du Credit Mutuel SA -Reg- |  |  |  |  |  |  |  |
| (MTN) 2018/2023 * ........................  | USD | 800 000 | 300 000 | % | 100,538 | 717 651,86 | 0,32 |
| 2,917 % Becton Dickinson and Co. (MTN) 2017/2022 * ...  | USD | 700 000 |  | % | 99,994 | 624 544,53 | 0,28 |
| 2,836 % Becton Dickinson and Co. 2018/2020 * .........  | USD | 300 000 |  | % | 99,952 | 267 548,18 | 0,12 |
| 2,503 % BMW Finance NV -144A- 2019/2022 * .........  | USD | 500 000 |  | % | 99,048 | 441 880,61 | 0,20 |
| 2,368 % BMW US Capital LLC -144A- 2019/2022 * ......  | USD | 200 000 |  | % | 98,612 | 175 975,98 | 0,08 |
| 2,524 % Campbell Soup Co. 2018/2021 * ..............  | USD | 400 000 |  | % | 100,202 | 357 624,95 | 0,16 |
| 2,614 % Canadian Imperial Bank of Commerce (MTN) |  |  |  |  |  |  |  |
| 2017/2022 * ..............................  | USD | 400 000 |  | % | 100,74 | 359 543,31 | 0,16 |
| 2,547 % Canadian Imperial Bank of Commerce (MTN) |  |  |  |  |  |  |  |
| 2018/2023 * ..............................  | USD | 400 000 |  | % | 100,098 | 357 255,55 | 0,16 |
| 2,664 % Cardinal Health, Inc. (MTN) 2017/2022 * ........  | USD | 800 000 | 300 000 | % | 99,023 | 706 836,52 | 0,31 |
| 2,721 % Cigna Corp. 2019/2023 * ....................  | USD | 1 000 000 | 600 000 | % | 101,752 | 907 896,86 | 0,40 |
| 2,754 % Citigroup, Inc. (MTN) 2017/2022 * .............  | USD | 200 000 |  | % | 100,436 | 179 230,05 | 0,08 |
| 2,751 % Citigroup, Inc. (MTN) 2017/2023 * .............  | USD | 700 000 | 200 000 | % | 100,052 | 624 903,66 | 0,28 |
| 2,792 % Citigroup, Inc. (MTN) 2017/2024 * .............  | USD | 400 000 |  | % | 99,997 | 356 893,29 | 0,16 |
| 2,454 % Citigroup, Inc. 2019/2022 * ..................  | USD | 800 000 |  | % | 99,748 | 712 012,77 | 0,32 |

An organisierten Märkten zugelassene oder in diese einbezogene Wertpapiere	34 167 299,92	15,24 Verzinsliche Wertpapiere
| Wertpapierbezeichnung | Stück bzw. Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Währung	Bestand	im Berichtszeitraum	EUR	vermögen |
| 3,094 % Credit Suisse Group AG -144A- (MTN) 2017/2023 * | USD | 500 000 |  | % | 100,123 | 446 678,74 | 0,20 |
| 2,605 % CVS Health Corp. 2018/2021 * ...............  2,592 % Daimler Finance North America LLC -144A- 2019/2022 * ..............................  | USD USD | 800 000 500 000 | 400 000 | % % | 100,349 98,846 | 716 299,19 440 979,43 | 0,32 0,19 |
| 2,20  % DNB Bank ASA -144A- 2019/2022 * ...........  | USD | 500 000 |  | % | 100,792 | 449 665,58 | 0,20 |
| 2,64  % eBay, Inc. (MTN) 2017/2023 * ................  | USD | 500 000 |  | % | 100,457 | 448 168,81 | 0,20 |
| 2,846 % General Mills, Inc. (MTN) 2018/2023 * .........  | USD | 1 200 000 | 525 000 | % | 100,878 | 1 080 118,21 | 0,48 |
| 2,383 % General Mills, Inc. 2018/2021 * ...............  2,942 % Goldman Sachs Group, Inc./The (MTN) 2017/2023 * ..............................  | USD USD | 400 000 500 000 |  | % % | 100,209 100,146 | 357 649,93 446 779,12 | 0,16 0,20 |
| 2,66  % Goldman Sachs Group, Inc./The (MTN) |  |  |  |  |  |  |  |  |
| 2018/2023 * ..............................  | USD | 800 000 |  | % | 99,564 | 710 695,80 | 0,32 |
| 2,62  % Hewlett Packard Enterprise Co. 2018/2021 * ....  | USD | 600 000 |  | % | 99,835 | 534 472,66 | 0,24 |
| 2,567 % Hewlett Packard Enterprise Co. 2019/2021 * .... 2,677 % Jackson National Life Global Funding -144A- (MTN) 2017/2022 * ........................  | USD USD | 349 000 800 000 | 400 000 | % % | 100,084 100,429 | 311 660,32 716 870,24 | 0,14 0,32 |
| 2,584 % Mitsubishi UFJ Financial Group, Inc. (MTN) |  |  |  |  |  |  |  |  |
| 2017/2022 * ..............................  | USD | 800 000 | 200 000 | % | 100,222 | 715 392,65 | 0,32 |
| 3,027 % Mizuho Financial Group, Inc. (MTN) 2016/2021 * . | USD | 200 000 |  | % | 100,942 | 180 132,13 | 0,08 |
| 2,768 % Mizuho Financial Group, Inc. (MTN) 2017/2022 * . | USD | 500 000 |  | % | 99,592 | 444 309,79 | 0,20 |
| 2,683 % Mizuho Financial Group, Inc. 2019/2023 * .......  | USD | 500 000 |  | % | 99,17 | 442 424,89 | 0,20 |
| 2,954 % Morgan Stanley (MTN) 2017/2024 * ...........  2,448 % National Australia Bank Ltd -144A- (MTN) 2018/2023 * ..............................  | USD USD | 700 000 400 000 | 200 000 | % % | 100,378 100,396 | 626 942,92 358 315,56 | 0,28 0,16 |
| 2,251 % National Australia Bank Ltd -144A- 2020/2022 * ..  | USD | 600 000 | 600 000 | % | 100,066 | 535 709,34 | 0,24 |
| 2,553 % Nordea Bank Abp -144A- (MTN) 2018/2023 * ....  | USD | 400 000 |  | % | 99,513 | 355 165,88 | 0,16 |
| 2,56  % Royal Bank of Canada (MTN) 2018/2023 * ......  | USD | 500 000 |  | % | 99,96 | 445 953,78 | 0,20 |
| 2,196 % Royal Bank of Canada (MTN) 2020/2023 * ...... 2,576 % Sumitomo Mitsui Financial Group, Inc. (MTN) 2018/2023 * ..............................  | USD USD | 769 000 1 000 000 | 769 000 500 000 | % % | 99,443 99,742 | 682 326,10 889 962,43 | 0,30 0,40 |
| 2,153 % Svenska Handelsbanken AB 2018/2021 * .......  | USD | 300 000 |  | % | 100,326 | 268 549,29 | 0,12 |
| 2,459 % Toronto-Dominion Bank/The (MTN) 2018/2023 * . | USD | 800 000 |  | % | 100,907 | 720 282,24 | 0,32 |
| 2,11  % Toronto-Dominion Bank/The (MTN) 2019/2022 * . | USD | 500 000 |  | % | 100,292 | 447 430,47 | 0,20 |
| 2,792 % Verizon Communications, Inc. (MTN) 2018/2025 * | USD | 1 000 000 | 200 000 | % | 101,034 | 901 490,43 | 0,40 |
| 2,833 % Vodafone Group PLC (MTN) 2018/2024 * .......  | USD | 1 000 000 | 200 000 | % | 99,954 | 891 845,10 | 0,40 |
| 2,671 % Westpac Banking Corp. (MTN) 2017/2022 * .....  | USD | 600 000 |  | % | 100,758 | 539 411,32 | 0,24 |
| 2,418 % Westpac Banking Corp. (MTN) 2017/2023 * .....  | USD | 600 000 |  | % | 100,28 | 536 855,00 | 0,24 |
| 2,412 % Westpac Banking Corp. (MTN) 2018/2023 * .....  | USD | 600 000 |  | % | 100,7 | 539 100,82 | 0,24 |
| 2,687 % Westpac Banking Corp. (MTN) 2019/2024 * .....  | USD | 1 000 000 | 400 000 | % | 100,614 | 897 734,02 | 0,40 |
| 2,233 % Westpac Banking Corp. 2020/2023 * ..........  | USD | 233 000 | 233 000 | % | 99,846 | 207 577,46 | 0,09 |
| Summe Wertpapiervermögen | 188 077 572,06 | 83,90 |
| Derivate (Bei den mit Minus gekennzeichneten Beständen handelt es sich um verkaufte Positionen) |  |  |
| Devisen-Derivate Forderungen/Verbindlichkeiten | 1 072 385,62 | 0,48 |
| Devisentermingeschäfte |  |  |
| Devisentermingeschäfte (Kauf) |  |  |
| Offene Positionen CHF/EUR 1,1 Mio. .................................  | 53 811,98 | 0,02 |
| GBP/EUR 0,1 Mio. .................................  | -519,55 | 0,00 |
| USD/EUR 8,3 Mio.  ................................  | 43 137,41 | 0,02 |
| Devisentermingeschäfte (Verkauf) |  |  |
| Offene Positionen EUR/USD 52,8 Mio.  ...............................  | 975 955,78 | 0,44 |
| Swaps Forderungen/Verbindlichkeiten | 7 805,43 | 0,00 |
| Credit Default Swaps |  |  |
| Protection Seller Barclays Bank PLC / 1% / 20/12/2020 (OTC) (CIT) ........	Stück	1 000 000 | 3 599,02 | 0,00 |
| Markit iTraxx Europe / 1% / 20/06/2024 (OTC) (DB) .......	Stück	250 000 | 4 206,41 | 0,00 |

| Wertpapierbezeichnung | Stück bzw. Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  | Währung | Bestand | im Berichtszeitraum | EUR | vermögen |
| Bankguthaben |  |  |  | 37 708 277,14 | 16,82 |
| Verwahrstelle (täglich fällig) EUR-Guthaben ....................................  | EUR |  |  | 37 208 676,64 | 16,60 |
| Guthaben in Nicht-EU/EWR-Währungen |  |  |  |  |  |
| US-Dollar ........................................  | USD | 59 927 |  | 53 470,50 | 0,02 |
| Termingelder USD - Guthaben (American Honda Finance, Torrance) ......  | USD | 500 000 |  | 446 130,00 | 0,20 |
| Sonstige Vermögensgegenstände |  |  |  | 1 505 461,77 | 0,67 |
| Zinsansprüche ....................................  |  |  |  | 340 084,49 | 0,15 |
| Forderungen aus der Überschreitung des „Expense Cap“ ..  |  |  |  | 165 377,28 | 0,07 |
| Sonstige Ansprüche ................................  |  |  |  | 1 000 000,00 | 0,45 |
| Forderungen aus Anteilscheingeschäften |  |  |  | 507 569,83 | 0,23 |
| Summe der Vermögensgegenstände ** |  |  |  | 228 879 591,40 | 102,10 |
| Sonstige Verbindlichkeiten |  |  |  | -4 640 807,68 | -2,07 |
| Andere sonstige Verbindlichkeiten .....................  |  |  |  | -4 640 807,68 | -2,07 |
| Verbindlichkeiten aus Anteilscheingeschäften |  |  |  | -65 708,89 | -0,03 |
| Summe der Verbindlichkeiten |  |  |  | -4 707 036,12 | -2,10 |
| Fondsvermögen |  |  |  | 224 172 555,28 | 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 CHF ICH ...................................  | CHF | 99,33 |
| Klasse CHF RCH ..................................  | CHF | 99,26 |
| Klasse CHF TFCH ..................................  | CHF | 100,26 |
| Klasse FC ........................................  | EUR | 99,63 |
| Klasse IC .........................................  | EUR | 99,72 |
| Klasse LC ........................................  | EUR | 99,50 |
| Klasse LD ........................................  | EUR | 100,00 |
| Klasse TFC .......................................  | EUR | 99,63 |
| Klasse GBP CH RD .................................  | GBP | 100,21 |
| Klasse GBP ICH ...................................  | GBP | 101,13 |
| Klasse GBP LCH ...................................  | GBP | 100,16 |
| Klasse USD ICH ...................................  | USD | 102,89 |
| Klasse USD LCH ..................................  | USD | 100,86 |
| Klasse USD TFCH .................................  | USD | 102,82 |
| Umlaufende Anteile Klasse CHF ICH ...................................  | Stück | 100 006,000 |
| Klasse CHF RCH ..................................  | Stück | 11 113,301 |
| Klasse CHF TFCH ..................................  | Stück | 196,062 |
| Klasse FC ........................................  | Stück | 100,000 |
| Klasse IC .........................................  | Stück | 1 603 336,000 |
| Klasse LC ........................................  | Stück | 54 334,876 |
| Klasse LD ........................................  | Stück | 0,010 |
| Klasse TFC .......................................  | Stück | 412 301,510 |
| Klasse GBP CH RD .................................  | Stück | 86,000 |
| Klasse GBP ICH ...................................  | Stück | 86,000 |
| Klasse GBP LCH ...................................  | Stück | 124,074 |
| Klasse USD ICH ...................................  | Stück | 80 113,000 |
| Klasse USD LCH ..................................  | Stück | 110,000 |
| Klasse USD TFCH .................................  | Stück | 113,000 |

Darstellung der Maximalgrenze (gem. CSSF-Rundschreiben 11/512) 2% vom Portfoliowert (1.1.2020 - 14.5.2020)
Potenzieller Risikobetrag für das Marktrisiko (gem. CSSF-Rundschreiben 11/512)
| kleinster potenzieller Risikobetrag .....................  | % | 0,084 |
| --- | --- | --- |
| größter potenzieller Risikobetrag ......................  | % | 1,828 |
| durchschnittlicher potenzieller Risikobetrag ..............  | % | 0,712 |

Die Risikokennzahlen wurden für den Zeitraum vom 1.1.2020 bis 14.5.2020 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 absoluten Value at Risk-Ansatzim Sinne des CSSF-Rundschreibens 11/512 an.
Darstellung der Maximalgrenze (gem. CSSF-Rundschreiben 11/512) 5% vom Portfoliowert (15.5.2020 - 30.6.2020)
Potenzieller Risikobetrag für das Marktrisiko (gem. CSSF-Rundschreiben 11/512)
| kleinster potenzieller Risikobetrag .....................  | % | 0,758 |
| --- | --- | --- |
| größter potenzieller Risikobetrag ......................  | % | 1,186 |
| durchschnittlicher potenzieller Risikobetrag ..............  | % | 0,900 |

Die Risikokennzahlen wurden für den Zeitraum vom 15.5.2020 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 absoluten Value at Risk-Ansatzim Sinne des CSSF-Rundschreibens 11/512 an.
Die durchschnittliche Hebelwirkung aus der Nutzung von Derivaten betrug im Berichtszeitraum 0,2, 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 48 200 029,00. Ohne Berücksichtigung gegebenenfalls auf Ebene von Anteilklassen zum Zwecke der Währungsabsicherung abgeschlossener Devisentermingeschäfte.
 Marktschlüssel	 Vertragspartner der Derivate (mit Ausnahme von Devisentermingeschäften)
CIT = Citibank AG
DB = Deutsche Bank AG Frankfurt
Vertragspartner der Devisentermingeschäfte
BNP Paribas SA, Bofa Securities Europe, Citigroup Global Markets Limited, HSBC France, JP Morgan, Royal Bank of Canada (UK) und State Street Bank London
 Devisenkurse (in Mengennotiz)	
per 30.6.2020 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.
 Fußnoten	
* Variabler Zinssatz.
** Beinhaltet, sofern vorhanden, keine Positionen mit negativem Bestand.