# Contents
Allianz Rentenfonds
Fund Assets in %
50 
40 
30 22.7
20
10
0
21.7 23.2
Belgium	Germany	France	UK	Ireland	Italy	The
Netherlands
Portugal	Spain	USA	Other
countries
Cash reserves, other assets
| Development of net assets and | unit value in a 3-year comparison |  |
| --- | --- | --- |
|  |  | 31/05/2022 | 30/11/2021 | 30/11/2020 | 30/11/2019 |
| Net assets in EUR m |  |  |  |  |  |
| - Unit class A (EUR) | WKN: 847 140/ISIN: DE0008471400 | 785.7 | 1,172.7 | 1,419.0 | 1,088.2 |
| - Unit class IT2 (EUR) | WKN: A2A MPP/ISIN: DE000A2AMPP5 | 1.6 | 1.8 | 0.4 | 0.2 |
| - Unit class P (EUR) | WKN: 979 741/ISIN: DE0009797415 | 23.5 | 84.9 | 73.3 | 21.5 |
| - Unit class P2 (EUR) | WKN: 979 765/ISIN: DE0009797654 | 39.2 | 39.8 | 32.6 | 28.1 |
| - Unit class R (EUR) | WKN: A2D U1G/ISIN: DE000A2DU1G9 | 23,811.96  1) | 22,062.42  1) | 14,240.77  1) | 3,636.44  1) |
| Unit value in EUR |  |  |  |  |  |
| - Unit class A (EUR) | WKN: 847 140/ISIN: DE0008471400 | 79.11 | 87.92 | 90.13 | 88.52 |
| - Unit class IT2 (EUR) | WKN: A2A MPP/ISIN: DE000A2AMPP5 | 950.56 | 1,049.55 | 1,066.77 | 1,035.50 |
| - Unit class P (EUR) | WKN: 979 741/ISIN: DE0009797415 | 1,103.32 | 1,228.57 | 1,259.33 | 1,236.65 |
| - Unit class P2 (EUR) | WKN: 979 765/ISIN: DE0009797654 | 89.23 | 99.36 | 101.85 | 100.01 |
| - Unit class R (EUR) | WKN: A2D U1G/ISIN: DE000A2DU1G9 | 92.88 | 103.39 | 105.97 | 103.99 |

1) 
Not shown in EUR million due to the fund’s low volume.
| Asset overview at 31/05/2022 |  |
| --- | --- |
| Breakdown by asset category – country | Market value in EUR | % of net assets  *) |
| I. Assets |  |  |
| 1. Bonds | 826,299,356.25 | 97.22 |
| Germany | 109,844,168.60 | 12.90 |
| France | 147,511,569.92 | 17.34 |
| The Netherlands | 44,059,798.36 | 5.16 |
| Italy | 197,288,561.26 | 23.21 |
| Ireland | 16,712,842.61 | 1.97 |
| Portugal | 17,961,319.60 | 2.12 |
| Spain | 82,334,565.11 | 9.68 |
| Belgium | 24,898,602.85 | 2.92 |
| Luxembourg | 6,442,477.98 | 0.76 |
| Norway | 1,308,650.58 | 0.15 |
| Sweden | 4,714,739.86 | 0.56 |
| Finland | 9,796,694.10 | 1.16 |
| Austria | 10,082,010.64 | 1.19 |
| Switzerland | 1,416,008.00 | 0.17 |
| Latvia | 1,453,731.35 | 0.17 |
| Poland | 3,712,938.90 | 0.44 |
| Slovakia | 3,964,199.94 | 0.47 |
| Hungary | 4,895,905.00 | 0.58 |
| Romania | 6,769,705.75 | 0.80 |
| Croatia | 3,872,790.91 | 0.46 |
| UK | 17,754,949.84 | 2.10 |
| USA | 18,767,492.34 | 2.21 |
| Canada | 16,203,451.30 | 1.91 |
| Mexico | 7,465,858.17 | 0.89 |
| Peru | 5,562,135.47 | 0.66 |
| Chile | 3,371,746.10 | 0.40 |
| Indonesia | 1,232,890.38 | 0.15 |
| Philippines | 872,445.70 | 0.10 |
| Republic of Korea | 431,343.00 | 0.05 |
| Japan | 2,593,270.08 | 0.31 |
| Australia | 2,703,323.03 | 0.32 |
| Others | 50,299,169.52 | 5.91 |
| 2. Investment units | 8.32 | 0.00 |
| Luxembourg | 8.32 | 0.00 |
| 3. Derivatives | 4,064,936.92 | 0.48 |
| 4. Bank deposits, money market | 22,422,378.20 | 2.63 |
| instruments, money market funds and |  |  |
| money market-related funds |  |  |
| 5. Other assets | 8,409,999.39 | 0.99 |
| II. Liabilities | -11,197,501.89 | -1.32 |
| III. Fund assets | 849,999,177.19 | 100.00 |

| Breakdown by asset category – currency | Market value in EUR | % of net assets  *) |
| --- | --- | --- |
| I. Assets |  |  |
| 1. Bonds | 826,299,356.25 | 97.22 |
| EUR | 803,464,812.00 | 94.52 |
| USD | 22,834,544.25 | 2.70 |
| 2. Investment units | 8.32 | 0.00 |
| EUR | 8.32 | 0.00 |
| 3. Derivatives | 4,064,936.92 | 0.48 |
| 4. Bank deposits, money market instruments, money market funds and | 22,422,378.20 | 2.63 |
| money market-related funds |  |  |
| 5. Other assets | 8,409,999.39 | 0.99 |
| II. Liabilities | -11,197,501.89 | -1.32 |
| III. Fund assets | 849,999,177.19 | 100.00 |

*) 
Minor rounding differences may be the result of percentage rounding during the calculation.

#### Investment portfolio at 31/05/2022
ISIN	Securities	Market	Shares/	Balance  Purchases  Redemptions	Price	Market value	% of net
Units/	31/05/2022	EUR	assets
Currency	in the period under review
| Exchange-traded securities |  |  |  |  |  |  | 770,001,602.46 | 90.58 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Interest-bearing securities |  |  |  |  |  |  | 770,001,602.46 | 90.58 |
| EUR bonds |  |  |  |  |  |  | 752,287,879.20 | 88.49 |
| XS2055646918	0.7500 % AbbVie Inc. Notes 19/27 XS2113911387	1.2500 % Abertis Infraestructuras | EUR | 1,000,000 | 0 | 0 | % | 92.437 | 924,370.10 | 0.11 |
| S.A. MTN 20/28 | EUR | 1,900,000 | 0 | 0 | % | 91.587 | 1,740,147.11 | 0.20 |
| XS2113700921	0.5000 % ACEA S.p.A. MTN 20/29 | EUR | 2,400,000 | 0 | 0 | % | 86.319 | 2,071,662.48 | 0.24 |
| XS2175967343	1.5000 % Achmea B.V. MTN 20/27 FR0013312774	1.0000 % Agence Française | EUR | 2,000,000 | 0 | 0 | % | 98.168 | 1,963,353.80 | 0.23 |
| Développement MTN 18/28 FR0013461688	0.5000 % Agence Française | EUR | 2,800,000 | 0 | 0 | % | 98.160 | 2,748,480.00 | 0.32 |
| Développement MTN 19/35 FR0014000AU2	0.0000 % Agence Française | EUR | 3,000,000 | 0 | 0 | % | 82.661 | 2,479,830.60 | 0.29 |
| Développement MTN 20/27 | EUR | 3,000,000 | 0 | 0 | % | 93.352 | 2,800,547.70 | 0.33 |
| FR0014004QX4	0.1250 % Alstom S.A. Notes 21/27 | EUR | 2,800,000 | 0 | 1,000,000 | % | 88.968 | 2,491,101.76 | 0.29 |
| FR00140010J1	1.7500 % Altarea S.C.A. Bonds 20/30 XS2056491587	2.1240 % Assicurazioni Generali | EUR | 1,400,000 | 0 | 0 | % | 76.087 | 1,065,221.64 | 0.13 |
| S.p.A. MTN 19/30 FR0013520210	0.1250 % AXA Home Loan SFH | EUR | 950,000 | 0 | 0 | % | 87.266 | 829,025.01 | 0.10 |
| S.A. MT Obl.Fin.Hab. 20/35 IT0005461626	0.6250 % Banca Carige S.p.A. | EUR | 2,000,000 | 2,000,000 | 0 | % | 78.166 | 1,563,313.80 | 0.18 |
| MT Cov. Bds 21/28 XS1956973967	1.1250 % Banco Bilbao Vizcaya | EUR | 4,300,000 | 0 | 600,000 | % | 92.701 | 3,986,135.69 | 0.47 |
| Argent. Non-Pref. MTN 19/24 XS2058729653	0.3750 % Banco Bilbao Vizcaya | EUR | 1,100,000 | 0 | 0 | % | 100.020 | 1,100,220.55 | 0.13 |
| Argent. Non-Pref. MTN 19/24 XS2013745703	1.0000 % Banco Bilbao Vizcaya | EUR | 1,000,000 | 0 | 0 | % | 97.584 | 975,841.80 | 0.11 |
| Argent. Non-Pref. MTN 19/26 XS1991397545	1.7500 % Banco de Sabadell S.A. | EUR | 1,000,000 | 0 | 0 | % | 96.141 | 961,405.50 | 0.11 |
| Non-Preferred MTN 19/24 ES0413900566	0.2500 % Banco Santander S.A. | EUR | 2,000,000 | 0 | 0 | % | 98.419 | 1,968,388.80 | 0.23 |
| Mortg.Cov. MTN 19/29 ES0413900558	0.8750 % Banco Santander S.A. | EUR | 3,000,000 | 0 | 0 | % | 90.402 | 2,712,065.40 | 0.32 |
| Mortg.Cov. MTN 19/31 XS1751004232	1.1250 % Banco Santander S.A. | EUR | 5,500,000 | 4,000,000 | 0 | % | 91.960 | 5,057,823.65 | 0.60 |
| Non-Pref. MTN 18/25 | EUR | 2,100,000 | 0 | 0 | % | 98.408 | 2,066,561.70 | 0.24 |
| ES0213679HN2	0.8750 % Bankinter S.A. Non-Pref. Obl. 19/26 | EUR | 2,100,000 | 0 | 0 | % | 94.338 | 1,981,103.88 | 0.23 |
| XS1678970291	2.0000 % Barclays PLC FLR MTN 17/28 | EUR | 1,500,000 | 0 | 2,000,000 | % | 99.653 | 1,494,801.75 | 0.18 |
| XS2082324364	0.7500 % Barclays PLC FLR MTN 19/25 XS2002532724	1.2080 % Becton Dickinson Euro | EUR | 2,000,000 | 0 | 0 | % | 97.371 | 1,947,422.00 | 0.23 |
| Fin.Sarl Notes 19/26 | EUR | 1,300,000 | 0 | 0 | % | 96.704 | 1,257,150.96 | 0.15 |
| XS2280845491	0.0000 % BMW Finance N.V. MTN 21/26 | EUR | 1,250,000 | 0 | 0 | % | 94.465 | 1,180,813.13 | 0.14 |
| FR0013476611	1.1250 % BNP Paribas S.A. FLR MTN 20/32 FR00140005J1	0.3750 % BNP Paribas S.A. FLR | EUR | 1,700,000 | 0 | 1,000,000 | % | 89.906 | 1,528,397.24 | 0.18 |
| Non-Pref. MTN 20/27 | EUR | 1,700,000 | 0 | 0 | % | 91.723 | 1,559,295.76 | 0.18 |
| XS1325645825	2.7500 % BNP Paribas S.A. MTN 15/26 | EUR | 1,000,000 | 0 | 0 | % | 100.200 | 1,001,996.90 | 0.12 |
| FR0013063385	2.7500 % BPCE S.A. FLR MTN 15/27 | EUR | 1,500,000 | 0 | 0 | % | 100.828 | 1,512,414.30 | 0.18 |
| FR00140027U2	0.7500 % BPCE S.A. Non-Preferred MTN 21/31 XS1587911451	2.6250 % Bque Fédérative du | EUR | 1,600,000 | 0 | 1,000,000 | % | 83.982 | 1,343,714.72 | 0.16 |
| Cr. Mutuel MTN 17/27 FR0014001I68	0.2500 % Bque Fédérative du Cr. | EUR | 1,000,000 | 0 | 0 | % | 99.025 | 990,253.40 | 0.12 |
| Mutuel Non-Pref. MTN 21/28 | EUR | 2,000,000 | 0 | 1,600,000 | % | 86.811 | 1,736,217.20 | 0.20 |
| DE0001135473	1.7500 % Bundesrep.Deutschland Anl. 12/22 | EUR | 11,000,000 | 0 | 5,000,000 | % | 100.211 | 11,023,210.00 | 1.30 |
| DE0001102358	1.5000 % Bundesrep.Deutschland Anl. 14/24 | EUR | 14,000,000 | 0 | 0 | % | 102.240 | 14,313,600.00 | 1.68 |
| DE0001102341	2.5000 % Bundesrep.Deutschland Anl. 14/46 | EUR | 4,000,000 | 1,000,000 | 2,000,000 | % | 126.126 | 5,045,040.00 | 0.59 |
| DE0001102390	0.5000 % Bundesrep.Deutschland Anl. 16/26 | EUR | 6,000,000 | 0 | 2,000,000 | % | 99.541 | 5,972,460.00 | 0.70 |
| DE0001102416	0.2500 % Bundesrep.Deutschland Anl. 17/27 | EUR | 4,035,000 | 0 | 0 | % | 97.832 | 3,947,521.20 | 0.46 |
| DE0001102424	0.5000 % Bundesrep.Deutschland Anl. 17/27 | EUR | 3,000,000 | 0 | 0 | % | 98.563 | 2,956,890.00 | 0.35 |
| DE0001102440	0.5000 % Bundesrep.Deutschland Anl. 18/28 | EUR | 4,000,000 | 0 | 8,000,000 | % | 98.207 | 3,928,280.00 | 0.46 |
| DE0001102481	0.0000 % Bundesrep.Deutschland Anl. 19/50 | EUR | 8,000,000 | 2,750,000 | 4,000,000 | % | 69.405 | 5,552,399.20 | 0.65 |
| DE0001102515	0.0000 % Bundesrep.Deutschland Anl. 20/35 | EUR | 7,900,000 | 6,000,000 | 5,600,000 | % | 85.433 | 6,749,206.21 | 0.79 |
| DE0001102549	0.0000 % Bundesrep.Deutschland Anl. 21/36 DE0001030559	0.5000 % Bundesrep.Deutschland | EUR | 8,500,000 | 13,500,000 | 5,000,000 | % | 84.089 | 7,147,564.15 | 0.84 |
| Inflation-Ind. Anl. 14/30 | EUR | 10,000,000 | 10,000,000 | 0 | % | 117.024 | 13,457,877.02 | 1.58 |
| Explanations can be found in the footnotes below the table. |  |  |  |  |  |  |  |  |


#### Investment portfolio at 31/05/2022
ISIN	Securities	Market	Shares/	Balance  Purchases  Redemptions	Price	Market value	% of net
Units/	31/05/2022	EUR	assets
Currency	in the period under review
| FR0013534559 | 0.0000 % Cais. d’Amort.de la |  |
| --- | --- | --- |
| PTCGDCOM0037 | Dette Soc. MTN 20/30 0.3750 % Caixa Geral de Depósitos | EUR | 3,000,000 | 0 | 0 | % | 87.273 | 2,618,178.60 | 0.31 |
|  | S.A. FLR Pref. MTN 21/27 | EUR | 1,700,000 | 0 | 0 | % | 91.716 | 1,559,174.21 | 0.18 |
| XS2310118976 ES0213307061 | 1.2500 % Caixabank S.A. FLR MTN 21/31 1.1250 % Caixabank S.A. Non- | EUR | 1,000,000 | 0 | 1,700,000 | % | 90.887 | 908,865.10 | 0.11 |
| XS2055758804 | Preferred Bonos 19/26 0.6250 % Caixabank S.A. Non- | EUR | 1,500,000 | 0 | 0 | % | 94.107 | 1,411,604.40 | 0.17 |
| XS2013574038 | Preferred MTN 19/24 1.3750 % Caixabank S.A. Non- | EUR | 3,000,000 | 0 | 0 | % | 97.070 | 2,912,087.70 | 0.34 |
|  | Preferred MTN 19/26 | EUR | 1,300,000 | 0 | 0 | % | 95.806 | 1,245,481.64 | 0.15 |
| ES0213307053 XS2393661397 | 0.7500 % Caixabank S.A. Preferred Bonos 19/26 0.0100 % Canadian Imperial Bk of | EUR | 1,300,000 | 0 | 0 | % | 94.336 | 1,226,363.97 | 0.14 |
| IT0005346579 | Comm. MT Cov. Bonds 21/26 2.1250 % Cassa Depositi e | EUR | 2,300,000 | 0 | 0 | % | 94.105 | 2,164,411.78 | 0.25 |
| IT0005366460 | Prestiti SpA MTN 18/23 2.1250 % Cassa Depositi e | EUR | 2,000,000 | 0 | 0 | % | 101.961 | 2,039,214.80 | 0.24 |
| IT0005422032 | Prestiti SpA MTN 19/26 1.0000 % Cassa Depositi e | EUR | 700,000 | 0 | 1,300,000 | % | 100.814 | 705,700.24 | 0.08 |
| XS2300292617 | Prestiti SpA MTN 20/28 0.7500 % Cellnex Finance | EUR | 1,800,000 | 0 | 0 | % | 91.680 | 1,650,241.26 | 0.19 |
|  | Company S.A. MTN 21/26 | EUR | 2,000,000 | 0 | 0 | % | 89.034 | 1,780,676.00 | 0.21 |
| XS2193658619 XS1823623878 | 1.8750 % Cellnex Telecom S.A. MTN 20/29 1.8750 % CNH Industrial Finance | EUR | 1,900,000 | 0 | 0 | % | 83.893 | 1,593,960.35 | 0.19 |
| XS2022084367 | Euro.SA MTN 18/26 1.6250 % CNH Industrial Finance | EUR | 2,000,000 | 0 | 1,000,000 | % | 99.098 | 1,981,951.00 | 0.23 |
|  | Euro.SA MTN 19/29 | EUR | 1,650,000 | 0 | 0 | % | 92.304 | 1,523,011.88 | 0.18 |
| FR0013521630 | 2.5000 % CNP Assurances S.A. FLR Notes 20/51 | EUR | 800,000 | 0 | 0 | % | 88.748 | 709,986.48 | 0.08 |
| FR0014000XY6 BE0002750314 | 0.3750 % CNP Assurances S.A. MTN 20/28 0.0000 % Communauté française | EUR | 2,300,000 | 0 | 1,000,000 | % | 85.692 | 1,970,925.89 | 0.23 |
|  | Belgique MTN 20/29 | EUR | 2,300,000 | 0 | 1,700,000 | % | 90.213 | 2,074,899.00 | 0.24 |
| XS2056430874 FR0014003182 | 0.3750 % Continental AG MTN 19/25 0.3750 % Crédit Agricole S.A. | EUR | 2,550,000 | 0 | 0 | % | 95.300 | 2,430,148.22 | 0.29 |
| IT0005451759 | Non-Preferred MTN 21/28 0.0100 % Credito Emiliano S.p.A. | EUR | 1,000,000 | 0 | 1,900,000 | % | 88.008 | 880,075.80 | 0.10 |
| DE000A2TSDV6 | Mortg.Cov. Bds 21/28 0.0500 % DZ HYP AG MTN | EUR | 4,800,000 | 0 | 0 | % | 89.734 | 4,307,248.80 | 0.51 |
| XS2035564629 | Hyp.-Pfe. R.1215 19/29 1.6250 % EnBW Energie Baden- | EUR | 2,000,000 | 0 | 0 | % | 89.745 | 1,794,904.20 | 0.21 |
|  | Württem. AG FLR Anl. 19/79 | EUR | 700,000 | 0 | 0 | % | 85.766 | 600,361.23 | 0.07 |
| XS2390400633 | 0.0000 % ENEL Finance Intl N.V. MTN 21/26 | EUR | 1,700,000 | 0 | 0 | % | 92.149 | 1,566,533.17 | 0.18 |
| XS2432293673 | 0.2500 % ENEL Finance Intl N.V. MTN 22/25 | EUR | 1,700,000 | 2,700,000 | 1,000,000 | % | 94.770 | 1,611,087.62 | 0.19 |
| XS1713463559 | 3.3750 % ENEL S.p.A. FLR Cap. Secs 18/Und. | EUR | 1,050,000 | 0 | 0 | % | 97.682 | 1,025,664.05 | 0.12 |
| FR0014000RR2 | 1.5000 % Engie S.A. FLR Notes 20/Und. | EUR | 1,500,000 | 0 | 0 | % | 82.936 | 1,244,038.05 | 0.15 |
| XS2242929532 | 2.6250 % ENI S.p.A. FLR Notes 20/Und. | EUR | 1,700,000 | 0 | 0 | % | 95.222 | 1,618,772.47 | 0.19 |
| XS2107315470 | 0.6250 % ENI S.p.A. MTN 20/30 | EUR | 1,350,000 | 0 | 0 | % | 86.733 | 1,170,894.15 | 0.14 |
| XS2297177664 | 0.2500 % Essity AB MTN 21/31 | EUR | 1,650,000 | 0 | 0 | % | 81.322 | 1,341,804.92 | 0.16 |
| XS2333297625 EU000A1G0DD4 | 0.7410 % Eurogrid GmbH MTN 21/33 1.2000 % Europ.Fin.Stab.Facility | EUR | 1,800,000 | 0 | 0 | % | 80.368 | 1,446,626.88 | 0.17 |
| EU000A1G0DR4 | (EFSF) MTN 15/45 0.7500 % Europ.Fin.Stab.Facility | EUR | 700,000 | 0 | 0 | % | 86.720 | 607,037.90 | 0.07 |
| EU000A1G0EE0 | (EFSF) MTN 17/27 0.0500 % Europ.Fin.Stab.Facility | EUR | 3,000,000 | 0 | 0 | % | 98.051 | 2,941,528.20 | 0.35 |
|  | (EFSF) MTN 19/29 | EUR | 4,000,000 | 0 | 0 | % | 90.527 | 3,621,063.20 | 0.43 |
| EU000A283859 | 0.0000 % Europaeische Union MTN 20/30 | EUR | 1,500,000 | 0 | 0 | % | 88.556 | 1,328,344.95 | 0.16 |
| EU000A3KNYF7 | 0.0000 % Europaeische Union MTN 21/26 | EUR | 1,800,000 | 0 | 3,200,000 | % | 96.397 | 1,735,141.68 | 0.20 |
| EU000A3KTGV8 | 0.0000 % Europaeische Union MTN 21/26 | EUR | 1,400,000 | 0 | 0 | % | 95.892 | 1,342,493.04 | 0.16 |
| EU000A287074 | 0.0000 % Europaeische Union MTN 21/28 | EUR | 3,050,000 | 0 | 0 | % | 92.737 | 2,828,487.35 | 0.33 |
| EU000A3KWCF4 | 0.0000 % Europaeische Union MTN 21/28 | EUR | 3,500,000 | 2,000,000 | 0 | % | 92.167 | 3,225,857.25 | 0.38 |
| EU000A3K4DD8 | 1.0000 % Europaeische Union MTN 22/32 | EUR | 4,600,000 | 5,600,000 | 1,000,000 | % | 93.939 | 4,321,202.28 | 0.51 |
| EU000A3K4DG1 | 1.2500 % Europaeische Union MTN 22/43 | EUR | 1,000,000 | 1,000,000 | 0 | % | 88.847 | 888,470.70 | 0.10 |
| EU000A1GVVF8 EU000A1U9894 | 3.0000 % Europäische Union MTN 11/26 1.0000 % Europäischer Stabilitäts. | EUR | 1,000,000 | 0 | 0 | % | 108.155 | 1,081,548.40 | 0.13 |
|  | (ESM) MTN 15/25 | EUR | 7,000,000 | 0 | 0 | % | 100.083 | 7,005,810.70 | 0.82 |

Explanations can be found in the footnotes below the table.

#### Investment portfolio at 31/05/2022
ISIN	Securities	Market	Shares/	Balance  Purchases  Redemptions	Price	Market value	% of net
Units/	31/05/2022	EUR	assets
Currency	in the period under review
| EU000A1Z99B9 | 0.7500 % Europäischer Stabilitäts. |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| EU000A1Z99H6 | (ESM) MTN 17/27 0.5000 % Europäischer Stabilitäts. | EUR | 2,800,000 | 0 | 2,200,000 | % | 98.078 | 2,746,184.84 | 0.32 |
| XS1555331617 | (ESM) MTN 19/29 0.5000 % European Investment | EUR | 3,100,000 | 0 | 0 | % | 94.314 | 2,923,737.41 | 0.34 |
| XS1612977717 | Bank MTN 17/27 1.1250 % European Investment | EUR | 2,500,000 | 0 | 0 | % | 97.285 | 2,432,134.75 | 0.29 |
| XS2102495673 | Bank MTN 17/33 0.0500 % European Investment | EUR | 2,000,000 | 0 | 0 | % | 94.200 | 1,883,999.60 | 0.22 |
| XS2258558464 | Bank MTN 20/30 0.1250 % FCA Bank S.p.A. (Irish | EUR | 3,000,000 | 3,000,000 | 0 | % | 90.092 | 2,702,752.80 | 0.32 |
|  | Branch) MTN 20/23 | EUR | 1,000,000 | 0 | 0 | % | 98.621 | 986,209.90 | 0.12 |
| XS2337252931 | 0.4500 % Fedex Corp. Notes 21/29 | EUR | 2,100,000 | 0 | 0 | % | 87.242 | 1,832,086.20 | 0.22 |
| ES0205032032 XS1843436228 | 1.3820 % Ferrovial Emisiones S.A. Notes 20/26 1.5000 % Fidelity Natl Inform. | EUR | 1,900,000 | 0 | 2,000,000 | % | 98.238 | 1,866,526.18 | 0.22 |
|  | Svcs Inc. Notes 19/27 | EUR | 2,500,000 | 0 | 0 | % | 95.798 | 2,394,959.50 | 0.28 |
| XS2400296773 DE000A2G8W65 | 0.7500 % FNM S.p.A. MTN 21/26 1.0000 % Freie Hansestadt Bremen | EUR | 1,800,000 | 0 | 0 | % | 90.979 | 1,637,619.30 | 0.19 |
| XS2307768734 | Landessch. Ausg.217 19/39 0.6000 % General Motors | EUR | 1,000,000 | 0 | 350,000 | % | 85.917 | 859,172.20 | 0.10 |
| FR0014004EF7 | Financial Co. MTN 21/27 0.7500 % Groupama Assurances | EUR | 2,150,000 | 0 | 0 | % | 88.732 | 1,907,744.67 | 0.22 |
| XS2261215011 | Mutuelles Notes 21/28 0.5000 % Holcim Finance (Luxembg) | EUR | 2,300,000 | 0 | 1,000,000 | % | 84.654 | 1,947,050.97 | 0.23 |
|  | S.A. Notes 20/31 Reg.S | EUR | 2,100,000 | 0 | 0 | % | 80.017 | 1,680,364.14 | 0.20 |
| XS2251736646 | 0.3090 % HSBC Holdings PLC FLR MTN 20/26 | EUR | 2,000,000 | 0 | 0 | % | 93.212 | 1,864,233.40 | 0.22 |
| XS2251736992 | 0.7700 % HSBC Holdings PLC FLR MTN 20/31 | EUR | 600,000 | 0 | 1,000,000 | % | 83.339 | 500,035.50 | 0.06 |
| FR0014000KN6 | 0.2000 % Ile-de-France Mobilités MTN 20/35 | EUR | 1,300,000 | 0 | 0 | % | 78.260 | 1,017,383.77 | 0.12 |
| FR0014003GX7 XS1952576475 | 1.0000 % IMERYS S.A. MTN 21/31 0.7500 % ING Bank N.V. MT | EUR | 1,200,000 | 0 | 0 | % | 79.224 | 950,683.56 | 0.11 |
|  | Mortg.Cov. Bds 19/29 | EUR | 5,000,000 | 5,000,000 | 3,000,000 | % | 94.790 | 4,739,486.50 | 0.56 |
| XS1590823859 | 3.0000 % ING Groep N.V. FLR MTN 17/28 | EUR | 1,700,000 | 0 | 0 | % | 101.277 | 1,721,716.65 | 0.20 |
| XS2281155254 XS1998930926 | 0.2500 % ING Groep N.V. FLR MTN 21/30 0.2500 % International Bank | EUR | 1,500,000 | 0 | 1,000,000 | % | 84.686 | 1,270,284.30 | 0.15 |
| XS2122894855 | Rec. Dev. MTN 19/29 0.0000 % International Bank | EUR | 4,000,000 | 0 | 0 | % | 92.035 | 3,681,391.60 | 0.43 |
| XS2304664167 | Rec. Dev. MTN 20/30 0.6250 % Intesa Sanpaolo S.p.A. | EUR | 2,000,000 | 0 | 0 | % | 88.817 | 1,776,337.80 | 0.21 |
| XS2081018629 | Non-Preferred MTN 21/26 1.0000 % Intesa Sanpaolo | EUR | 3,000,000 | 0 | 0 | % | 92.120 | 2,763,597.60 | 0.33 |
| XS2022424993 | S.p.A. Pref. MTN 19/26 1.7500 % Intesa Sanpaolo | EUR | 2,500,000 | 0 | 2,000,000 | % | 93.412 | 2,335,304.50 | 0.27 |
| XS1979446843 | S.p.A. Pref. MTN 19/29 1.5000 % Intesa Sanpaolo S.p.A. | EUR | 1,300,000 | 0 | 0 | % | 92.161 | 1,198,088.19 | 0.14 |
| XS2317069685 | Preferred MTN 19/24 0.7500 % Intesa Sanpaolo S.p.A. | EUR | 700,000 | 0 | 0 | % | 100.352 | 702,463.02 | 0.08 |
| XS2115091808 | Preferred MTN 21/28 0.6500 % Intl Business Machines | EUR | 2,300,000 | 0 | 0 | % | 89.131 | 2,050,016.68 | 0.24 |
| XS2066003901 | Corp. Notes 20/32 0.0000 % Intl Development | EUR | 1,700,000 | 0 | 1,000,000 | % | 84.846 | 1,442,382.00 | 0.17 |
|  | Association MTN 19/26 | EUR | 1,300,000 | 0 | 0 | % | 94.280 | 1,225,645.07 | 0.14 |
| FR0013509627 | 2.0000 % JCDecaux S.A. Bonds 20/24 | EUR | 2,400,000 | 0 | 0 | % | 100.569 | 2,413,655.52 | 0.28 |
| FR0014000KT3 | 0.8750 % Klépierre S.A. MTN 20/31 | EUR | 1,400,000 | 0 | 1,000,000 | % | 82.091 | 1,149,271.90 | 0.14 |
| BE0000348574 | 1.7000 % Koenigreich Belgien Obl. Lin. 19/50 | EUR | 4,500,000 | 0 | 0 | % | 88.885 | 3,999,824.55 | 0.47 |
| ES0000012J07 | 1.0000 % Koenigreich Spanien Bonos 21/42 | EUR | 1,250,000 | 0 | 0 | % | 75.550 | 944,374.88 | 0.11 |
| XS2229470146 | 0.8750 % Kon. KPN N.V. MTN 20/32 | EUR | 1,400,000 | 0 | 0 | % | 83.715 | 1,172,006.92 | 0.14 |
| BE0000351602 | 0.0000 % Königreich Belgien Bons d’Etat 20/27 | EUR | 6,500,000 | 0 | 0 | % | 94.631 | 6,151,015.00 | 0.72 |
| BE0000347568 | 0.9000 % Königreich Belgien Obl. Lin. 19/29 | EUR | 1,500,000 | 0 | 0 | % | 97.731 | 1,465,965.00 | 0.17 |
| BE0000350596 | 0.4000 % Königreich Belgien Obl. Lin. 20/40 | EUR | 7,000,000 | 0 | 0 | % | 74.995 | 5,249,649.30 | 0.62 |
| BE0000324336 | 4.5000 % Königreich Belgien Obl. Lin. S.64 11/26 | EUR | 3,500,000 | 0 | 2,000,000 | % | 114.070 | 3,992,450.00 | 0.47 |
| BE0000345547 | 0.8000 % Königreich Belgien Obl. Lin. S.85 18/28 | EUR | 2,000,000 | 0 | 5,000,000 | % | 98.240 | 1,964,800.00 | 0.23 |
| NL0010733424 | 2.0000 % Königreich Niederlande Anl. 14/24 | EUR | 4,000,000 | 0 | 4,000,000 | % | 103.248 | 4,129,920.00 | 0.49 |
| NL0013552060 | 0.5000 % Königreich Niederlande Anl. 19/40 | EUR | 7,500,000 | 11,500,000 | 4,000,000 | % | 83.078 | 6,230,849.25 | 0.73 |
| ES00000124H4 | 5.1500 % Königreich Spanien Bonos 13/44 | EUR | 1,500,000 | 0 | 0 | % | 143.791 | 2,156,865.00 | 0.25 |
| ES0000012B88 | 1.4000 % Königreich Spanien Bonos 18/28 | EUR | 7,000,000 | 3,000,000 | 6,000,000 | % | 99.109 | 6,937,629.30 | 0.82 |

Explanations can be found in the footnotes below the table.

#### Investment portfolio at 31/05/2022
ISIN	Securities	Market	Shares/	Balance  Purchases  Redemptions	Price	Market value	% of net
Units/	31/05/2022	EUR	assets
Currency	in the period under review
| ES0000012B47 | 2.7000 % Königreich Spanien Bonos 18/48 | EUR | 6,000,000 | 0 | 2,000,000 | % | 100.155 | 6,009,299.40 | 0.71 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| ES0000012E85 ES00000127Z9 | 0.2500 % Königreich Spanien Bonos 19/24 1.9500 % Königreich Spanien | EUR | 12,000,000 | 0 | 5,000,000 | % | 98.949 | 11,873,880.00 | 1.40 |
| ES0000012G34 | Obligaciones 16/26 1.2500 % Königreich Spanien | EUR | 12,000,000 | 0 | 0 | % | 102.803 | 12,336,360.00 | 1.45 |
| ES0000012G42 | Obligaciones 20/30 1.2000 % Königreich Spanien | EUR | 2,000,000 | 0 | 5,000,000 | % | 95.244 | 1,904,886.60 | 0.22 |
|  | Obligaciones 20/40 | EUR | 9,500,000 | 1,500,000 | 0 | % | 79.813 | 7,582,234.07 | 0.89 |
| DE000A11QTF7 | 0.3750 % Kreditanst.f.Wiederaufbau MTN 15/30 | EUR | 5,000,000 | 5,000,000 | 0 | % | 92.086 | 4,604,304.50 | 0.54 |
| DE000A168Y48 | 1.2500 % Kreditanst.f.Wiederaufbau MTN 16/36 | EUR | 1,300,000 | 0 | 0 | % | 92.566 | 1,203,362.03 | 0.14 |
| DE000A2LQSH4 | 0.7500 % Kreditanst.f.Wiederaufbau MTN 18/28 | EUR | 2,500,000 | 0 | 0 | % | 97.434 | 2,435,861.25 | 0.29 |
| DE000A2LQSN2 | 0.7500 % Kreditanst.f.Wiederaufbau MTN 19/29 | EUR | 1,550,000 | 0 | 0 | % | 96.692 | 1,498,721.97 | 0.18 |
| XS2331327564 | 0.0000 % Kreditanst.f.Wiederaufbau MTN 21/29 | EUR | 2,000,000 | 2,000,000 | 0 | % | 91.013 | 1,820,267.80 | 0.21 |
| DE000A3H2ZF6 FR0013518024 | 0.0000 % Kreditanst.f.Wiederaufbau MTN 21/31 0.5000 % La Banque Postale | EUR | 3,000,000 | 3,000,000 | 0 | % | 87.906 | 2,637,182.10 | 0.31 |
|  | FLR Non-Pref. MTN 20/26 | EUR | 1,100,000 | 0 | 0 | % | 95.283 | 1,048,113.22 | 0.12 |
| DE000A2TR6J9 | 0.3750 % Land Brandenburg Schatzanw. 20/35 | EUR | 2,000,000 | 0 | 0 | % | 83.084 | 1,661,678.40 | 0.20 |
| DE000A1RQC02 DE000NRW0JJ8 | 0.7500 % Land Hessen Schatzanw. S.1607 16/36 1.2500 % Land Nordrhein-Westfalen | EUR | 1,000,000 | 0 | 0 | % | 85.598 | 855,975.00 | 0.10 |
| DE000NRW0J22 | MT Landessch.R.1410 16/36 1.0000 % Land Nordrhein-Westfalen | EUR | 1,500,000 | 0 | 500,000 | % | 92.042 | 1,380,634.65 | 0.16 |
| XS2384269101 | MT Landessch.R.1427 16/46 0.2500 % LeasePlan Corporation | EUR | 1,500,000 | 0 | 500,000 | % | 81.906 | 1,228,584.75 | 0.14 |
| XS1749378342 | N.V. MTN 21/26 0.6250 % Lloyds Banking Group | EUR | 2,450,000 | 0 | 0 | % | 91.244 | 2,235,479.47 | 0.26 |
| IT0005378036 | PLC FLR MTN 18/24 0.5000 % Mediobanca - Bca Cred. | EUR | 1,000,000 | 0 | 0 | % | 100.095 | 1,000,946.30 | 0.12 |
| XS2027957815 | Fin. SpA Mortg.Cov.MTN 19/26 1.1250 % Mediobanca - Bca Cred. | EUR | 1,100,000 | 0 | 0 | % | 96.143 | 1,057,578.17 | 0.12 |
|  | Fin. SpA Preferred MTN 19/25 | EUR | 1,550,000 | 0 | 0 | % | 96.651 | 1,498,089.57 | 0.18 |
| DE000A2YNZW8 | 0.3750 % Mercedes-Benz Int.Fin. B.V. MTN 19/26 | EUR | 2,000,000 | 0 | 0 | % | 94.408 | 1,888,159.60 | 0.22 |
| XS2218405772 | 1.6250 % Merck KGaA FLR Sub.Anl. 20/80 | EUR | 1,500,000 | 0 | 0 | % | 93.529 | 1,402,930.20 | 0.17 |
| XS2080205367 | 0.7500 % NatWest Group PLC FLR MTN 19/25 | EUR | 2,000,000 | 0 | 0 | % | 96.960 | 1,939,205.60 | 0.23 |
| XS2307853098 | 0.7800 % NatWest Group PLC FLR MTN 21/30 | EUR | 1,000,000 | 0 | 0 | % | 85.975 | 859,751.70 | 0.10 |
| XS1076781589 | 4.3750 % NN Group N.V. FLR MTN 14/Und. | EUR | 1,200,000 | 0 | 0 | % | 102.695 | 1,232,334.84 | 0.14 |
| DE000NWB0AK3 | 0.1000 % NRW.BANK MTN IHS Ausg.0AK 20/35 | EUR | 1,700,000 | 1,700,000 | 0 | % | 78.694 | 1,337,789.50 | 0.16 |
| XS2305026762 XS2258389415 | 0.0100 % NTT Finance Corp. Notes 21/25 Reg.S 0.1000 % OP Yrityspankki Oyj | EUR | 2,700,000 | 0 | 0 | % | 96.047 | 2,593,270.08 | 0.31 |
|  | Preferred MTN 20/27 | EUR | 1,000,000 | 0 | 1,450,000 | % | 89.621 | 896,206.10 | 0.11 |
| FR0013447877 | 1.7500 % Orange S.A. FLR MTN 19/Und. | EUR | 1,600,000 | 0 | 0 | % | 92.229 | 1,475,658.40 | 0.17 |
| FR00140005L7 | 1.7500 % Orange S.A. FLR MTN 20/Und. | EUR | 1,500,000 | 0 | 0 | % | 87.966 | 1,319,483.70 | 0.16 |
| XS2270397016 | 0.5000 % Poste Italiane S.p.A. MTN 20/28 | EUR | 1,350,000 | 0 | 0 | % | 87.461 | 1,180,728.23 | 0.14 |
| XS1303312034 | 0.8750 % Provinz British Columbia MTN 15/25 | EUR | 1,000,000 | 0 | 2,000,000 | % | 98.788 | 987,876.20 | 0.12 |
| FR0013476090 | 1.1250 % RCI Banque S.A. MTN 20/27 | EUR | 1,500,000 | 0 | 0 | % | 90.566 | 1,358,496.90 | 0.16 |
| FR0014003067 | 0.0000 % Région Île de France MTN 21/28 | EUR | 1,200,000 | 0 | 1,700,000 | % | 92.265 | 1,107,180.00 | 0.13 |
| FR0010773192 | 4.5000 % Rep. Frankreich OAT 09/41 | EUR | 4,400,000 | 4,400,000 | 0 | % | 139.203 | 6,124,918.36 | 0.72 |
| FR0011619436 | 2.2500 % Rep. Frankreich OAT 13/24 | EUR | 17,000,000 | 0 | 0 | % | 103.551 | 17,603,670.00 | 2.07 |
| FR0011461037 | 3.2500 % Rep. Frankreich OAT 13/45 | EUR | 2,000,000 | 0 | 0 | % | 122.411 | 2,448,229.80 | 0.29 |
| FR0012517027 | 0.5000 % Rep. Frankreich OAT 15/25 | EUR | 22,000,000 | 0 | 6,000,000 | % | 99.421 | 21,872,510.00 | 2.57 |
| FR0013250560 | 1.0000 % Rep. Frankreich OAT 16/27  6) | EUR | 5,000,000 | 0 | 18,000,000 | % | 99.989 | 4,999,450.00 | 0.59 |
| FR0013154044 | 1.2500 % Rep. Frankreich OAT 16/36 | EUR | 6,000,000 | 0 | 4,000,000 | % | 92.993 | 5,579,595.00 | 0.66 |
| FR0013341682 | 0.7500 % Rep. Frankreich OAT 17/28 | EUR | 4,000,000 | 0 | 15,000,000 | % | 97.486 | 3,899,440.00 | 0.46 |
| FR0013407236 | 0.5000 % Rep. Frankreich OAT 18/29 | EUR | 5,000,000 | 0 | 3,000,000 | % | 95.272 | 4,763,600.50 | 0.56 |
| FR0013515806 | 0.5000 % Rep. Frankreich OAT 20/40 | EUR | 4,000,000 | 1,000,000 | 2,000,000 | % | 77.955 | 3,118,208.00 | 0.37 |
| FR0014002JM6 | 0.5000 % Rep. Frankreich OAT 20/44 | EUR | 10,000,000 | 0 | 0 | % | 73.292 | 7,329,229.00 | 0.86 |
| XS1810775145 | 1.7500 % Republik Indonesien Notes 18/25 | EUR | 1,250,000 | 0 | 0 | % | 98.631 | 1,232,890.38 | 0.15 |
| IE00BDHDPQ37 | 0.0000 % Republik Irland Treasury Bonds 17/22 | EUR | 5,000,000 | 0 | 0 | % | 100.155 | 5,007,750.00 | 0.59 |
| IE00BKFVC899 | 0.2000 % Republik Irland Treasury Bonds 20/30 | EUR | 10,500,000 | 2,000,000 | 0 | % | 90.501 | 9,502,584.00 | 1.12 |
| IT0004356843 | 4.7500 % Republik Italien B.T.P. 08/23 | EUR | 6,000,000 | 0 | 0 | % | 105.031 | 6,301,849.80 | 0.74 |
| IT0005045270 | 2.5000 % Republik Italien B.T.P. 14/24 | EUR | 10,000,000 | 0 | 0 | % | 102.674 | 10,267,400.00 | 1.21 |
| IT0005024234 | 3.5000 % Republik Italien B.T.P. 14/30 | EUR | 5,000,000 | 3,000,000 | 0 | % | 106.481 | 5,324,025.00 | 0.63 |
| IT0005090318 | 1.5000 % Republik Italien B.T.P. 15/25 | EUR | 10,000,000 | 0 | 0 | % | 99.737 | 9,973,675.00 | 1.17 |
| IT0005215246 | 0.6500 % Republik Italien B.T.P. 16/23 | EUR | 6,000,000 | 0 | 0 | % | 100.064 | 6,003,810.00 | 0.71 |
| IT0005210650 | 1.2500 % Republik Italien B.T.P. 16/26 | EUR | 16,000,000 | 0 | 6,000,000 | % | 96.866 | 15,498,480.00 | 1.82 |
| IT0005240350 | 2.4500 % Republik Italien B.T.P. 17/33 | EUR | 7,000,000 | 0 | 0 | % | 94.670 | 6,626,882.50 | 0.78 |

Explanations can be found in the footnotes below the table.

#### Investment portfolio at 31/05/2022
ISIN	Securities	Market	Shares/	Balance  Purchases  Redemptions	Price	Market value	% of net
Units/	31/05/2022	EUR	assets
Currency	in the period under review
| IT0005340929 | 2.8000 % Republik Italien B.T.P. 18/28 | EUR | 4,000,000 | 5,000,000 | 10,000,000 | % | 102.423 | 4,096,919.60 | 0.48 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| IT0005358806 | 3.3500 % Republik Italien B.T.P. 18/35 | EUR | 5,000,000 | 0 | 0 | % | 102.540 | 5,127,016.50 | 0.60 |
| IT0005366007 | 1.0000 % Republik Italien B.T.P. 19/22 | EUR | 7,000,000 | 0 | 13,000,000 | % | 100.179 | 7,012,547.50 | 0.83 |
| IT0005365165 | 3.0000 % Republik Italien B.T.P. 19/29 | EUR | 10,000,000 | 0 | 0 | % | 102.979 | 10,297,913.00 | 1.21 |
| IT0005377152 | 3.1000 % Republik Italien B.T.P. 19/40 | EUR | 5,000,000 | 0 | 0 | % | 97.827 | 4,891,325.00 | 0.58 |
| IT0005398406 | 2.4500 % Republik Italien B.T.P. 19/50 | EUR | 8,500,000 | 0 | 2,000,000 | % | 83.477 | 7,095,559.45 | 0.83 |
| IT0005405318 | 0.6000 % Republik Italien B.T.P. 20/23 | EUR | 5,000,000 | 0 | 0 | % | 100.304 | 5,015,180.50 | 0.59 |
| IT0005413171 | 1.6500 % Republik Italien B.T.P. 20/30 | EUR | 6,000,000 | 0 | 0 | % | 91.326 | 5,479,560.00 | 0.64 |
| IT0005402117 | 1.4500 % Republik Italien B.T.P. 20/36 | EUR | 5,000,000 | 0 | 7,000,000 | % | 81.391 | 4,069,537.50 | 0.48 |
| IT0005438004 | 1.5000 % Republik Italien B.T.P. 20/45 | EUR | 3,850,000 | 0 | 0 | % | 71.977 | 2,771,124.13 | 0.33 |
| IT0005449969 | 0.9500 % Republik Italien B.T.P. 21/31 | EUR | 10,000,000 | 3,000,000 | 0 | % | 83.604 | 8,360,350.00 | 0.98 |
| IT0005441883 | 2.1500 % Republik Italien B.T.P. 21/72 | EUR | 1,950,000 | 0 | 0 | % | 70.541 | 1,375,539.75 | 0.16 |
| IT0005496770 IT0005329344 | 3.2500 % Republik Italien B.T.P. 22/38 0.1000 % Republik Italien Inflation- | EUR | 6,900,000 | 6,900,000 | 0 | % | 100.478 | 6,932,964.75 | 0.82 |
| IT0005410912 | Ind. Lkd B.T.P. 18/23 1.4000 % Republik Italien Inflation- | EUR | 5,000,000 | 0 | 0 | % | 104.052 | 5,829,939.03 | 0.69 |
|  | Ind. Lkd B.T.P. 20/25 | EUR | 8,475,000 | 0 | 0 | % | 105.279 | 8,936,828.31 | 1.05 |
| XS2226969686 | 0.0000 % Republik Korea Bonds 20/25 | EUR | 450,000 | 0 | 0 | % | 95.854 | 431,343.00 | 0.05 |
| XS2361416915 | 0.0000 % Republik Lettland MTN 21/29 | EUR | 1,650,000 | 0 | 0 | % | 88.105 | 1,453,731.35 | 0.17 |
| AT0000A2WSC8 | 0.9000 % Republik Oesterreich MTN 22/32 | EUR | 6,700,000 | 6,700,000 | 0 | % | 93.721 | 6,279,315.04 | 0.74 |
| AT0000A269M8 | 0.5000 % Republik Österreich MTN 19/29 | EUR | 4,000,000 | 4,000,000 | 0 | % | 95.067 | 3,802,695.60 | 0.45 |
| XS2447602793 | 2.7500 % Republik Polen MTN 22/32 | EUR | 3,700,000 | 3,700,000 | 0 | % | 100.350 | 3,712,938.90 | 0.44 |
| PTOTETOE0012 | 2.8750 % Republik Portugal Obr. 16/26 | EUR | 3,000,000 | 0 | 0 | % | 106.993 | 3,209,790.00 | 0.38 |
| PTOTEUOE0019 | 4.1250 % Republik Portugal Obr. 17/27 | EUR | 2,000,000 | 0 | 0 | % | 113.134 | 2,262,680.00 | 0.27 |
| PTOTEXOE0024 | 1.9500 % Republik Portugal Obr. 19/29 | EUR | 2,000,000 | 2,000,000 | 2,000,000 | % | 101.953 | 2,039,060.00 | 0.24 |
| PTOTEMOE0035 | 0.7000 % Republik Portugal Obr. 20/27 | EUR | 2,000,000 | 0 | 0 | % | 96.352 | 1,927,040.00 | 0.23 |
| PTOTENOE0034 XS2262211076 | 0.9000 % Republik Portugal Obr. 20/35 1.3750 % Republik Rumaenien | EUR | 2,500,000 | 2,500,000 | 0 | % | 83.818 | 2,095,449.75 | 0.25 |
|  | MTN 20/29 Reg.S | EUR | 1,450,000 | 0 | 0 | % | 80.066 | 1,160,951.06 | 0.14 |
| XS1129788524 | 2.8750 % Republik Rumänien MTN 14/24 | EUR | 1,500,000 | 0 | 500,000 | % | 101.415 | 1,521,232.35 | 0.18 |
| XS2178857285 | 2.7500 % Republik Rumänien MTN 20/26 Reg.S | EUR | 2,850,000 | 0 | 0 | % | 98.431 | 2,805,290.06 | 0.33 |
| XS2178857954 | 3.6240 % Republik Rumänien MTN 20/30 Reg.S | EUR | 1,400,000 | 0 | 0 | % | 91.588 | 1,282,232.28 | 0.15 |
| XS2063268754 | 1.2500 % Royal Mail PLC Notes 19/26 | EUR | 850,000 | 0 | 0 | % | 96.194 | 817,648.58 | 0.10 |
| XS2333391303 | 0.0000 % Royal Schiphol Group N.V. MTN 21/25 | EUR | 1,900,000 | 0 | 0 | % | 95.169 | 1,808,203.02 | 0.21 |
| XS2466426215 XS2078735276 | 1.1250 % Santander UK PLC MT Cov. Bds 22/27 0.5000 % Shell International | EUR | 3,900,000 | 3,900,000 | 0 | % | 98.315 | 3,834,283.44 | 0.45 |
| XS1948598997 | Finance BV MTN 19/31 0.3750 % Skandinaviska Enskilda | EUR | 1,650,000 | 0 | 0 | % | 84.943 | 1,401,563.63 | 0.16 |
|  | Banken MT Cov. Bds 19/26 | EUR | 2,250,000 | 0 | 0 | % | 96.627 | 2,174,100.98 | 0.26 |
| SK4000017158 | 0.2500 % Slowakei Anl. 20/25 | EUR | 4,050,000 | 0 | 0 | % | 97.881 | 3,964,199.94 | 0.47 |
| XS1615680151 FR0013311503 | 1.1250 % SNCF Réseau S.A. MTN 17/27 1.1250 % Société Générale S.A. | EUR | 2,500,000 | 0 | 0 | % | 99.277 | 2,481,925.00 | 0.29 |
|  | Non-Preferred MTN 18/25 | EUR | 2,600,000 | 0 | 0 | % | 98.458 | 2,559,900.46 | 0.30 |
| XS2163333656 XS1947550403 | 1.0000 % Sodexo S.A. Notes 20/29 0.5000 % Sparebank. Sør Boligkreditt | EUR | 2,100,000 | 0 | 1,000,000 | % | 90.959 | 1,910,129.55 | 0.22 |
| XS2183818637 | AS Mrtg.Cov. MTN 19/26 2.5000 % Standard Chartered | EUR | 1,350,000 | 0 | 0 | % | 96.937 | 1,308,650.58 | 0.15 |
|  | PLC FLR MTN 20/30 | EUR | 950,000 | 0 | 0 | % | 97.359 | 924,910.60 | 0.11 |
| XS2314246526 | 1.5000 % Stedin Holding N.V. FLR Notes 21/Und. | EUR | 1,600,000 | 0 | 0 | % | 91.214 | 1,459,430.40 | 0.17 |
| XS2407985220 | 0.0000 % Stedin Holding N.V. MTN 21/26 | EUR | 1,300,000 | 0 | 0 | % | 91.639 | 1,191,310.12 | 0.14 |
| XS2356040357 | 0.7500 % Stellantis N.V. MTN 21/29 | EUR | 2,200,000 | 0 | 0 | % | 85.951 | 1,890,923.98 | 0.22 |
| FR0013445335 | 1.6250 % Suez S.A. FLR Notes 19/Und. | EUR | 1,200,000 | 0 | 0 | % | 91.227 | 1,094,723.28 | 0.13 |
| XS1617859464 | 1.0000 % Swedbank AB FLR MTN 17/27 | EUR | 1,200,000 | 0 | 0 | % | 99.903 | 1,198,833.96 | 0.14 |
| XS1756296965 | 1.4470 % Telefonica Emisiones S.A.U. MTN 18/27 | EUR | 1,100,000 | 0 | 0 | % | 98.174 | 1,079,912.13 | 0.13 |
| XS2233154538 XS2338355105 | 0.1250 % The Coca-Cola Co. Notes 20/29 0.0100 % The Goldman Sachs | EUR | 2,500,000 | 0 | 1,000,000 | % | 87.394 | 2,184,841.75 | 0.26 |
| XS2292954893 | Group Inc. FLR MTN 21/24 0.2500 % The Goldman Sachs | EUR | 2,800,000 | 0 | 0 | % | 99.041 | 2,773,135.40 | 0.33 |
|  | Group Inc. MTN 21/28 | EUR | 1,900,000 | 0 | 1,000,000 | % | 88.021 | 1,672,407.93 | 0.20 |
| XS1195202822 | 2.6250 % TotalEnergies SE FLR MTN 15/Und. | EUR | 2,000,000 | 0 | 0 | % | 98.134 | 1,962,671.80 | 0.23 |
| XS2290960520 | 1.6250 % TotalEnergies SE FLR MTN 21/Und. | EUR | 1,800,000 | 0 | 0 | % | 88.121 | 1,586,180.70 | 0.19 |
| CH0576402181 | 0.2500 % UBS Group AG FLR MTN 20/28 | EUR | 1,600,000 | 0 | 1,000,000 | % | 88.501 | 1,416,008.00 | 0.17 |
| XS1887498282 FR0013330529 | 1.2500 % Ungarn Bonds 18/25 2.1250 % Unibail-Rodamco-Westfield | EUR | 5,000,000 | 0 | 0 | % | 97.918 | 4,895,905.00 | 0.58 |
|  | SE FLR Bonds 18/Und. | EUR | 2,000,000 | 0 | 0 | % | 95.858 | 1,917,153.00 | 0.23 |
| Explanations can | be found in the footnotes below the table. |  |  |  |  |  |  |  |  |


#### Investment portfolio at 31/05/2022
ISIN	Securities	Market	Shares/	Balance  Purchases  Redemptions	Price	Market value	% of net
Units/	31/05/2022	EUR	assets
Currency	in the period under review
| XS1953271225 XS2017471553 | 4.8750 % UniCredit S.p.A. FLR MTN 19/29 1.2500 % UniCredit S.p.A. FLR | EUR | 2,000,000 | 0 | 0 | % | 101.726 | 2,034,516.40 | 0.24 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  | Preferred MTN 19/25 | EUR | 900,000 | 0 | 0 | % | 98.300 | 884,698.20 | 0.10 |
| XS2063547041 FR0124665995 | 0.5000 % UniCredit S.p.A. Preferred MTN 19/25 0.1250 % Union Natle Interp. | EUR | 1,400,000 | 0 | 0 | % | 95.262 | 1,333,671.50 | 0.16 |
| FR0013518487 | Em.Com.Ind. MTN 17/24 0.2500 % Union Natle Interp. | EUR | 3,000,000 | 0 | 0 | % | 98.094 | 2,942,826.60 | 0.35 |
|  | Em.Com.Ind. MTN 20/29 | EUR | 3,300,000 | 0 | 0 | % | 90.922 | 3,000,426.99 | 0.35 |
| XS2257961818 | 0.1250 % UPM Kymmene Corp. MTN 20/28 | EUR | 1,500,000 | 0 | 1,000,000 | % | 86.937 | 1,304,055.75 | 0.15 |
| XS2320453884 | 0.5000 % UPM Kymmene Corp. MTN 21/31 | EUR | 1,000,000 | 0 | 1,750,000 | % | 81.756 | 817,564.70 | 0.10 |
| FR0014004UE6 FR00140007K5 | 1.0000 % Valéo S.E. MTN 21/28 2.2500 % Veolia Environnement | EUR | 1,600,000 | 0 | 0 | % | 82.139 | 1,314,224.32 | 0.15 |
|  | S.A. FLR Notes 20/Und. | EUR | 1,000,000 | 0 | 0 | % | 94.735 | 947,350.00 | 0.11 |
| DE000A2R8ND3 | 0.6250 % Vonovia Finance B.V. MTN 19/27 | EUR | 2,000,000 | 0 | 0 | % | 88.898 | 1,777,967.60 | 0.21 |
| DE000A287179 | 1.0000 % Vonovia Finance B.V. MTN 21/41 | EUR | 600,000 | 0 | 1,600,000 | % | 62.762 | 376,572.00 | 0.04 |
| DE000A3MP4T1 | 0.0000 % Vonovia SE MTN 21/25 | EUR | 600,000 | 0 | 0 | % | 91.936 | 551,615.94 | 0.06 |
| FR0013521564 | 0.8750 % Worldline S.A. Obl. 20/27 | EUR | 1,200,000 | 0 | 0 | % | 92.817 | 1,113,799.08 | 0.13 |
| USD bonds |  |  |  |  |  |  |  | 17,713,723.26 | 2.09 |
| US465410CA47 | 1.2500 % Republik Italien Notes 20/26 | USD | 10,600,000 | 0 | 0 | % | 90.888 | 8,972,806.71 | 1.06 |
| XS0997000251 | 6.0000 % Republik Kroatien Notes 13/24 Reg.S | USD | 4,000,000 | 0 | 0 | % | 103.955 | 3,872,790.91 | 0.46 |
| XS1085735899 | 5.1250 % Republik Portugal MTN 14/24 Reg.S | USD | 5,000,000 | 0 | 0 | % | 104.538 | 4,868,125.64 | 0.57 |
| Securities admitted to or included in regulated markets |  |  |  |  |  |  | 56,297,753.79 | 6.64 |
| Interest-bearing securities |  |  |  |  |  |  | 56,297,753.79 | 6.64 |
| EUR bonds |  |  |  |  |  |  | 51,176,932.80 | 6.03 |
| XS2082818951	1.1250 % Australia & N. Z. Bkg |  |  |  |  |  |  |  |  |
| Grp Ltd. FLR MTN 19/29 | EUR | 1,250,000 | 0 | 0 | % | 96.187 | 1,202,337.50 | 0.14 |
| XS2321466133	1.1250 % Barclays PLC FLR MTN 21/31 XS2337061670	0.5000 % CCEP Finance (Ireland) | EUR | 1,400,000 | 0 | 0 | % | 90.960 | 1,273,440.00 | 0.15 |
| DAC Notes 21/29 XS1907122656	1.5000 % Coca-Cola Europacific | EUR | 1,150,000 | 0 | 0 | % | 87.212 | 1,002,941.45 | 0.12 |
| Pa. PLC Notes 18/27 XS2193734733	1.6250 % Dell Bank International | EUR | 1,350,000 | 0 | 0 | % | 96.168 | 1,298,270.97 | 0.15 |
| DAC Notes 20/24 | EUR | 1,200,000 | 0 | 0 | % | 99.964 | 1,199,567.16 | 0.14 |
| FR0013431244	1.6250 % Engie S.A. FLR Notes 19/Und. | EUR | 2,200,000 | 0 | 0 | % | 93.527 | 2,057,601.92 | 0.24 |
| XS2304340263	0.2500 % Equinix Inc. Notes 21/27 XS1721244371	1.8750 % Iberdrola International | EUR | 1,450,000 | 0 | 0 | % | 90.166 | 1,307,400.77 | 0.15 |
| B.V. FLR Notes 17/Und. XS1890845875	3.2500 % Iberdrola International | EUR | 2,100,000 | 0 | 0 | % | 100.367 | 2,107,714.98 | 0.25 |
| B.V. FLR Securit. 19/Und. | EUR | 1,100,000 | 0 | 0 | % | 100.372 | 1,104,087.38 | 0.13 |
| XS2135361686	1.3500 % Mexiko MTN 20/27 | EUR | 3,750,000 | 0 | 0 | % | 92.569 | 3,471,330.75 | 0.41 |
| XS2104886341	1.1250 % Mexiko MTN 20/30 | EUR | 1,000,000 | 0 | 0 | % | 83.864 | 838,640.00 | 0.10 |
| XS2363910436	2.2500 % Mexiko Notes 21/36 XS2312722916	0.2500 % Mondelez International | EUR | 3,000,000 | 0 | 0 | % | 78.163 | 2,344,894.50 | 0.28 |
| Inc. Notes 21/28 | EUR | 2,600,000 | 0 | 0 | % | 89.545 | 2,328,164.02 | 0.27 |
| XS1315181708	2.7500 % Peru Bonds 15/26 | EUR | 4,000,000 | 0 | 0 | % | 101.633 | 4,065,333.20 | 0.48 |
| XS2104985598	0.7000 % Philippinen Bonds 20/29 | EUR | 1,000,000 | 0 | 0 | % | 87.245 | 872,445.70 | 0.10 |
| XS1807430811	0.6250 % Provinz Ontario MTN 18/25 | EUR | 3,000,000 | 0 | 0 | % | 98.400 | 2,951,988.60 | 0.35 |
| XS2153608141	0.3750 % Provinz Ontario MTN 20/27 | EUR | 2,000,000 | 0 | 0 | % | 95.090 | 1,901,795.00 | 0.22 |
| XS2262263622	0.0100 % Provinz Ontario MTN 20/30 | EUR | 4,450,000 | 0 | 0 | % | 85.805 | 3,818,320.72 | 0.45 |
| XS2435787283	0.5000 % Provinz Quebec MTN 22/32 | EUR | 5,000,000 | 5,000,000 | 0 | % | 87.581 | 4,379,059.00 | 0.52 |
| XS1151586945	1.6250 % Republik Chile Bonds 14/25 | EUR | 1,000,000 | 0 | 0 | % | 99.818 | 998,183.90 | 0.12 |
| XS2369244327	1.3000 % Republik Chile Notes 21/36 | EUR | 3,000,000 | 0 | 0 | % | 79.119 | 2,373,562.20 | 0.28 |
| FI4000523238	1.5000 % Republik Finnland Bonds 22/32 XS2342206591	0.7660 % Westpac Banking | EUR | 6,850,000 | 6,850,000 | 0 | % | 98.962 | 6,778,867.55 | 0.80 |
| Corp. FLR MTN 21/31 | EUR | 1,650,000 | 0 | 0 | % | 90.969 | 1,500,985.53 | 0.18 |
| USD bonds |  |  |  |  |  |  | 5,120,820.99 | 0.61 |
| US05584KAH14	1.6520 % BPCE S.A. FLR Non-Pref. MTN 20/26 | USD | 1,000,000 | 0 | 3,500,000 | % | 91.569 | 852,838.78 | 0.10 |
| US91087BAM28	2.6590 % Mexiko Notes 20/31 | USD | 1,000,000 | 0 | 0 | % | 87.076 | 810,992.92 | 0.10 |
| US715638DP43	1.8620 % Peru Bonds 20/32 XS1917910884	7.8300 % UniCredit S.p.A. Non- | USD | 2,000,000 | 0 | 0 | % | 80.356 | 1,496,802.27 | 0.18 |
| Pref. MTN 18/23 Reg.S | USD | 2,000,000 | 0 | 0 | % | 105.233 | 1,960,187.02 | 0.23 |
| Securities fund units |  |  |  |  |  |  | 8.32 | 0.00 |
| Proprietary securities fund units of investment management company |  |  |  |  |  |  | 8.32 | 0.00 |
| Luxembourg |  |  |  |  |  |  | 8.32 | 0.00 |
| Explanations can be found in the footnotes below the table. |  |  |  |  |  |  |  |  |


#### Investment portfolio at 31/05/2022
ISIN	Securities	Market	Shares/	Balance  Purchases  Redemptions	Price	Market value	% of net
Units/	31/05/2022	EUR	assets
Currency	in the period under review
LU1297616101	Allianz GIF-Allianz Green Bond
Inhaber-Anteile W	UNT	0.009	0	0 EUR	924.600	8.32	0.00
Total securities 
3)	
EUR	826,299,364.57	97.22
Derivatives
(The positions marked with a minus sign have been sold)
| Interest rate derivatives Receivables/payables |  |
| --- | --- |
| Interest rate futures contracts |  |  |  |  | 1,224,888.58 | 0.14 |
| 3M Eurodollar (ED) IRF Dez. 22	XIMM | USD | 705,000,000 |  |  | -1,728,881.44 | -0.20 |
| EURO Bobl Future (FGBM) Juni 22	XEUR | EUR | -47,000,000 |  |  | 1,124,680.00 | 0.13 |
| EURO Bund Future (FGBL) Juni 22	XEUR | EUR | 40,500,000 |  |  | -3,567,450.00 | -0.42 |
| EURO-BTP Future (FBTP) Juni 22	XEUR Five-Year US Treasury Note | EUR | -36,000,000 |  |  | 5,817,160.00 | 0.68 |
| Future (FV) Sep. 22	XCBT Long Term EURO OAT | USD | 44,200,000 |  |  | -161,859.98 | -0.02 |
| Future (FOAT) Juni 22	XEUR | EUR | 13,900,000 |  |  | -258,760.00 | -0.03 |
| Options Options on interest rate futures contracts |  |  |  |  | -19,755.00 | 0.00 |
| EURO Bund Future (FGBL) |  |  |  |  |  |  |
| Put Juli 22 143	XEUR EURO Bund Future (FGBL) | EUR  Quantity | -525 | EUR | -0.135 | 70,875.00 | 0.01 |
| Put Juli 22 144	XEUR EURO Bund Future (FGBL) | EUR  Quantity | -525 | EUR | -0.160 | 84,000.00 | 0.01 |
| Put Juli 22 146	XEUR EURO Bund Future (FGBL) | EUR  Quantity | -525 | EUR | -0.120 | 63,000.00 | 0.01 |
| Put Juli 22 150	XEUR Opt. 1Y Mid-Cur 3M Euribor | EUR  Quantity | 525 | EUR | -0.135 | -70,880.00 | -0.01 |
| IRF Put Sep. 22 97,25	IFEU Opt. 1Y Mid-Cur 3M Euribor | EUR  Quantity | -920 | EUR | -0.008 | 74,750.00 | 0.01 |
| IRF Put Sep. 22 97,75	IFEU Opt. 1Y Mid-Cur 3M Euribor | EUR  Quantity | -920 | EUR | 0.003 | -25,875.00 | 0.00 |
| IRF Put Sep. 22 98,125	IFEU | EUR  Quantity | 920 | EUR | -0.023 | -215,625.00 | -0.03 |
| Total interest rate derivatives |  |  | EUR |  | 1,205,133.58 | 0.14 |
| Foreign exchange derivatives Receivables/payables |  |  |  |  |  |  |
| Options |  |  |  |  |  |  |  |
| Options on foreign exchange futures |  |  |  |  |  | -5,136.44 | 0.00 |
| Cross Rate EUR/USD 2PM Fut. |  |  |  |  |  |  |  |
| (EUU) Put Juni 22 0,97 Cross Rate EUR/USD 2PM | XCME | USD  Quantity | -106,250,000 | USD | 0.000 | -4,947.84 | 0.00 |
| Fut.(EUU) Put Juni 22 1 Cross Rate EUR/USD 2PM Fut. | XCME | USD  Quantity | -21,250,000 | USD | 0.000 | -989.57 | 0.00 |
| (EUU) Put Juni 22 1,035 Cross Rate JPY/USD 2PM | XCME | USD  Quantity | 42,500,000 | USD | 0.000 | 1,979.14 | 0.00 |
| Fut. (JPU) Call Juni 22 80 Cross Rate JPY/USD 2PM | XCME | USD  Quantity | 275,000 | USD | 0.000 | 115.26 | 0.00 |
| Fut. (JPU) Call Juni 22 83 Cross Rate JPY/USD 2PM Fut. | XCME | USD  Quantity | -27,500,000 | USD | 0.000 | -1,280.62 | 0.00 |
| (JPU)Call Juni 22 82,5 | XCME | USD  Quantity | -275,000 | USD | 0.000 | -12.81 | 0.00 |
| Foreign exchange futures (sale) |  |  |  |  |  | 370,378.49 | 0.04 |
| Open positions |  |  |  |  |  |  |  |
| USD/EUR 24.000.000,00 | OTC |  |  |  |  | 370,378.49 | 0.04 |
| Total foreign exchange derivatives |  |  |  | EUR |  | 365,242.05 | 0.04 |
| Swaptions |  |  |  |  |  |  |  |
| Option rights on credit default swaps |  |  |  |  |  | 47,271.78 | 0.00 |
| Payer swap |  |  |  |  |  | 47,271.78 | 0.00 |
| SWP Long Pay ITRAXX SER37 |  |  |  |  |  |  |  |
| V1 BOFASECEUR 20.07.22 / |  |  |  |  |  |  |  |
| BOFASECEUR / 20.07.2022 SWP Short Pay ITRAXX SER37 | OTC | EUR | 90,000,000 |  |  | 109,711.62 | 0.01 |
| V1 BOFASECEUR 20.07.22 / |  |  |  |  |  |  |  |
| BOFASECEUR / 20.07.2022 | OTC | EUR | -180,000,000 |  |  | -62,439.84 | -0.01 |
| Total swaptions |  |  |  | EUR |  | 47,271.78 | 0.00 |
| Credit derivatives |  |  |  |  |  |  |  |
| Explanations can be found in the footnotes below the table. |  |  |  |  |  |  |  |


#### Investment portfolio at 31/05/2022
ISIN	Securities	Market	Shares/	Balance  Purchases  Redemptions	Price	Market value	% of net
Units/	31/05/2022	EUR	assets
Currency	in the period under review
| Credit Default Swaps (CDS) CCP |  |  |  |  | -1,060,800.00 | -0.12 |
| --- | --- | --- | --- | --- | --- | --- |
| Protection buyer |  |  |  |  | -1,060,800.00 | -0.12 |
| CDS ITRAXX EUROPE S36 V1 5Y / |  |  |  |  |  |  |
| JPMORGAN_FRA / 20.12.2026 CDS ITRAXX EUROPE S37 V1 5Y / | IFEU | EUR | 60,000,000 |  | -610,800.00 | -0.07 |
| JPMORGAN_FRA / 20.06.2027 | IFEU | EUR | 60,000,000 |  | -450,000.00 | -0.05 |
| Inflation Swaps (IFS) |  |  |  |  | 3,508,089.51 | 0.42 |
| Protection seller |  |  |  |  | 3,508,089.51 | 0.42 |
| IFS Euro HICP Ex Tob. EUR/ 1.5775% |  |  |  |  |  |  |
| EUR / CITIGLMD_FRA / 15.07.2031 IFS Euro HICP Ex Tob. EUR/2.424% | OTC | EUR | 14,000,000 |  | 2,177,816.52 | 0.26 |
| EUR / GOLDMANS_FRA / 15.02.2027 | OTC | EUR | 22,000,000 |  | 1,330,272.99 | 0.16 |
| Total credit derivatives | EUR |  | 2,447,289.51 | 0.30 |
| Bank deposits, money market instruments, money market funds and money market-related funds |  |  |  |  |
| Bank deposits |  |  |  |  |
| EUR deposits with custodial office |  |  |  |  |
| State Street Bank International GmbH	EUR	 15,467,708.66 | % | 100.000 | 15,467,708.66 | 1.82 |
| Deposits in other EU/EEA currencies |  |  |  |  |  |  |  |  |
| State Street Bank International GmbH | DKK | 383,952.79 | % | 100.000 | 51,611.07 | 0.01 |
| State Street Bank International GmbH | NOK | 153,175.42 | % | 100.000 | 15,098.61 | 0.00 |
| State Street Bank International GmbH | PLN | 95,330.00 | % | 100.000 | 20,805.33 | 0.00 |
| State Street Bank International GmbH | SEK | 52,471.05 | % | 100.000 | 4,978.16 | 0.00 |
| Deposits in non EU/EEA currencies |  |  |  |  |  |  |  |  |
| State Street Bank International GmbH | AUD | 93,021.64 | % | 100.000 | 62,236.40 | 0.01 |
| State Street Bank International GmbH | CAD | 10,501.18 | % | 100.000 | 7,714.65 | 0.00 |
| State Street Bank International GmbH | CHF | 7,512.03 | % | 100.000 | 7,279.80 | 0.00 |
| State Street Bank International GmbH | GBP | 251,657.80 | % | 100.000 | 295,477.05 | 0.03 |
| State Street Bank International GmbH | JPY | 1,986,989.00 | % | 100.000 | 14,487.80 | 0.00 |
| State Street Bank International GmbH | MXN | 2,010,205.89 | % | 100.000 | 95,521.45 | 0.01 |
| State Street Bank International GmbH | USD | 6,833,689.02 | % | 100.000 | 6,364,616.76 | 0.75 |
| State Street Bank International GmbH | ZAR | 248,268.40 | % | 100.000 | 14,842.46 | 0.00 |

| Total bank deposits  7) 12) | EUR | 22,422,378.20 | 2.63 |
| --- | --- | --- | --- |
| Total of bank deposits, money market instruments, money market funds and money market-related funds  30) | EUR | 22,422,378.20 | 2.63 |
| Other assets |  |  |  |  |  |  |
|  | Accrued interest | EUR | 4,051,716.07 |  | 4,051,716.07 | 0.48 |
|  | Receivables from unit transactions | EUR | 116,029.33 |  | 116,029.33 | 0.01 |
|  | Receivables from cash collateral | EUR | 1,491,486.00 |  | 1,491,486.00 | 0.18 |
|  | Receivables from initial margin CCP | EUR | 1,689,968.00 |  | 1,689,968.00 | 0.20 |
|  | Receivables from variation margin CCP | EUR | 1,060,799.99 |  | 1,060,799.99 | 0.12 |
| Total other assets |  |  |  | EUR | 8,409,999.39 | 0.99 |
| Other payables |  |  |  |  |  |  |
|  | Liabilities from unit transactions | EUR | -391,895.13 |  | -391,895.13 | -0.05 |
|  | Liabilities from securities transactions | EUR | -6,830,751.50 |  | -6,830,751.50 | -0.80 |
|  | Accruals | EUR | -504,855.26 |  | -504,855.26 | -0.06 |
|  | Liabilities from cash collateral | EUR | -3,470,000.00 |  | -3,470,000.00 | -0.41 |
| Total other payables |  |  |  | EUR | -11,197,501.89 | -1.32 |
| Fund assets |  |  |  | EUR | 849,999,177.19 | 100.00 |
|  | Total units in circulation of all unit classes |  |  | Shs | 10,393,730 |  |

3) 
The Fund’s securities are partially hedged through transactions with financial instruments.
6) 
These securities are wholly or partially transferred as securities loans.
7) 
These bank deposits have been transferred in whole or in part to a third party as collateral for other derivatives.
12) 
These bank deposits have been transferred in whole or in part to a third party as collateral for centrally cleared derivatives.
30) 
Cash initial margins may be included in bank deposits.
| Securities |  |  | total |
| --- | --- | --- | --- |
| Total collateral for other derivatives granted by third parties (collateral management): | EUR |  | 3,765,240.76 |
| of which: |  |  |  |
| Bank deposits | EUR | 3,470,000.00 |  |
| Debentures | EUR | 295,240.76 |  |
| Total amount of the nominal values of the bank deposits that third parties use as collateral for other derivatives (collateral management): | EUR |  | 1,491,486.00 |
| Total current value of securities that have been pledged to third parties as collateral for other derivatives (Collateral Management): | EUR |  | 380,958.09 |
| Total nominal value of the bank deposits used as collateral to third parties for centrally cleared derivatives | EUR |  | 2,750,767.99 |
| Total amount of the price values of the securities that third parties use as margin securities for forward transactions: | EUR |  | 17,270,490.00 |


#### Allianz Rentenfonds A (EUR)
ISIN	DE0008471400
Fund assets	785,728,641.76
Units in circulation	9,931,570.637
Unit value	79.11
Allianz Rentenfonds IT2 (EUR)
| ISIN | DE000A2AMPP5 |
| --- | --- |
| Fund assets | 1,618,542.00 |
| Units in circulation | 1,702.718 |
| Unit value | 950.56 |
| Allianz Rentenfonds P (EUR) |  |
| ISIN | DE0009797415 |
| Fund assets | 23,459,840.00 |
| Units in circulation | 21,262.999 |
| Unit value | 1,103.32 |
| Allianz Rentenfonds P2 (EUR) |  |
| ISIN | DE0009797654 |
| Fund assets | 39,168,341.47 |
| Units in circulation | 438,937.501 |
| Unit value | 89.23 |
| Allianz Rentenfonds R (EUR) |  |
| ISIN | DE000A2DU1G9 |
| Fund assets | 23,811.96 |
| Units in circulation | 256.373 |
| Unit value | 92.88 |


### Securities prices/market rates

##### Fund assets were valued on the basis of the following prices/market rates:
International bonds: prices as at 30/05/2022 or last known
All other assets: prices/market rates as at 31/05/2022 or last known

### Additional information on valuations
The valuation is conducted by the Custodian in cooperation with the Company.
Equities, subscription rights, exchange-traded funds (ETFs), participation certificates, bonds and exchange-traded derivatives are valued at their market price, provided that a market price is available.
Bonds for which no market price is available are valued at validated broker prices or with the help of regularly reviewed models and on the basis of relevant market information.
Participation certificates for which no market prices are available are valued at the mean of the bid-ask-spread.
Derivatives and subscription rights which are not traded on the market are valued with the help of regularly reviewed models and on the basis of relevant market information.
Investment fund units are valued at the redemption price published by the relevant investment company.
Bank deposits and other assets are valued at their nominal value, term deposits at their current value and liabilities at the repayment value.
Unlisted equities and shareholdings are valued at the current value, which is carefully determined with the help of suitable valuation models, taking account of the current market situation.
The methods used to value the Fund factor in the market effects resulting from the COVID-19 pandemic and from the Russia-Ukraine war. No further adjustments were necessary at the time of preparation of the semi-annual report.
The investments reported in this semi-annual report, amounting to 97.70% of fund assets, are valued at stock market trading prices or market prices and 0.00% at imputed current market values and/or verified brokers’ quotations. The remaining 2.30% of fund assets consists of other assets, other liabilities and cash.

#### Exchange rate(s) and/or conversion factor(s) (indirect quotation) as at 31/05/2022
| UK, Pound Sterling | (GBP) | 1 Euro = GBP | 0.85170 |
| --- | --- | --- | --- |
| Denmark, Krone | (DKK) | 1 Euro = DKK | 7.43935 |
| Norway, Krone | (NOK) | 1 Euro = NOK | 10.14500 |
| Sweden, Krona | (SEK) | 1 Euro = SEK | 10.54025 |
| Switzerland, Franc | (CHF) | 1 Euro = CHF | 1.03190 |
| Poland, Zloty | (PLN) | 1 Euro = PLN | 4.58200 |
| South Africa, Rand | (ZAR) | 1 Euro = ZAR | 16.72690 |
| USA, Dollar | (USD) | 1 Euro = USD | 1.07370 |
| Canada, Dollar | (CAD) | 1 Euro = CAD | 1.36120 |
| Mexico, Peso | (MXN) | 1 Euro = MXN | 21.04455 |
| Japan, Yen | (JPY) | 1 Euro = JPY | 137.14910 |
| Australia, Dollar | (AUD) | 1 Euro = AUD | 1.49465 |
| Market key |  |  |  |
| Financial futures exchanges |  |  |  |
| IFEU | = | London - ICE Futures Europe |
| XCBT | = | Chicago - Chicago Board of Trade (CBOT) |
| XCME | = | Chicago - Chicago Mercantile Exchange (CME) |
| XEUR | = | Eurex (Eurex Frankfurt/Eurex Zürich) |

XIMM	=
Chicago - Chicago Mercantile Exchange (CME) - International Money Market (IMM)

##### OTC-dealt derivatives
OTC	=	Over-the-Counter

### Capital measures
All sales revenues resulting from capital measures (technical revenues) are reported as additions or disposals.

#### Transactions carried out during the reporting period no longer listed in the investment portfolio
– purchases and redemptions of securities, fund units and borrower’s note loans (market allocations as per reporting date):
ISIN	Securities	Shares/	Purchases	Redemptions Units/
Currency
Exchange-traded securities Interest-bearing securities EUR bonds
| ES0200002063 | 0.5500 % Adif - Alta Velocidad MTN 21/31 | EUR | 0 | 1,500,000 |
| --- | --- | --- | --- | --- |
| BE6317598850 | 3.8750 % AGEAS SA/NV FLR Notes 19/Und. | EUR | 0 | 2,000,000 |
| FR0013483526 | 0.0000 % Agence Française Développement MTN 20/25 | EUR | 0 | 1,500,000 |
| FR0014002GB5 | 0.3750 % Agence Française Développement MTN 21/36 | EUR | 0 | 4,400,000 |
| XS2080767010 | 1.8750 % AIB Group PLC FLR MTN 19/29 | EUR | 0 | 3,000,000 |
| XS2230399441 | 2.8750 % AIB Group PLC FLR MTN 20/31 | EUR | 0 | 3,000,000 |
| FR0014001EW8 | 0.0000 % Alstom S.A. Notes 21/29 | EUR | 0 | 2,100,000 |
| XS1115800655 | 5.0000 % ASR Nederland N.V. FLR Securities 14/Und. | EUR | 0 | 1,785,000 |
| ES0312298021 | 3.7500 % AYT Cedulas Ca.Gl.-FTA-S.III AB Notes 05/22 | EUR | 0 | 2,000,000 |
| IT0005321663 | 1.0000 % Banco BPM S.p.A. MT Mortg. Cov. Bds 18/25 | EUR | 0 | 2,000,000 |
| PTBCPIOM0057 | 0.7500 % Banco Com. Português SA (BCP) Obr. Hipotec. 17/22 | EUR | 0 | 2,900,000 |
| XS2076079594 | 0.6250 % Banco de Sabadell S.A. FLR Preferred MTN 19/25 | EUR | 0 | 900,000 |
| XS2228245838 | 1.1250 % Banco de Sabadell S.A. FLR Preferred MTN 20/27 | EUR | 0 | 900,000 |
| XS2247936342 | 1.6250 % Banco Santander S.A. MTN 20/30 | EUR | 0 | 2,000,000 |
| XS1508377584 | 0.8750 % BNG Bank N.V. MTN 16/36 | EUR | 0 | 2,000,000 |
| FR0013431277 | 1.6250 % BNP Paribas S.A. MTN 19/31 | EUR | 0 | 1,400,000 |
| FR0013515749 | 1.2500 % Bque Fédérative du Cr. Mutuel Non-Pref. MTN 20/30 | EUR | 0 | 900,000 |
| DE0001102408 | 0.0000 % Bundesrep.Deutschland Anl. 16/26 | EUR | 0 | 5,000,000 |
| DE0001102465 | 0.2500 % Bundesrep.Deutschland Anl. 19/29 | EUR | 0 | 14,000,000 |
| DE0001102499 | 0.0000 % Bundesrep.Deutschland Anl. 20/30 | EUR | 4,000,000 | 26,000,000 |
| DE0001030732 | 0.0000 % Bundesrep.Deutschland Anl. Gruene 21/31 | EUR | 0 | 1,000,000 |
| DE0001141786 | 0.0000 % Bundesrep.Deutschland Bundesobl. S.178 18/23 | EUR | 0 | 20,000,000 |
| FR0013460607 | 1.1250 % Bureau Veritas SA Notes 19/27 | EUR | 0 | 1,200,000 |
| PTCMGTOM0029 | 0.8750 % Caixa Económica Montepio Geral MT Obr. Hip. 17/22 | EUR | 0 | 2,100,000 |
| XS2025468542 | 0.0400 % Canadian Imperial Bk of Comm. MT Cov. Bonds 19/27 | EUR | 0 | 2,900,000 |
| IT0005399586 | 1.0000 % Cassa Depositi e Prestiti SpA MTN 20/30 | EUR | 0 | 1,200,000 |
| XS2102934697 | 1.0000 % Cellnex Telecom S.A. MTN 20/27 | EUR | 0 | 900,000 |
| XS1859010685 | 1.5000 % Citigroup Inc. FLR MTN 18/26 | EUR | 0 | 500,000 |
| DE000CZ40NS9 | 1.0000 % Commerzbank AG MTN IHS S.923 19/26 | EUR | 0 | 1,800,000 |
| FR0013312154 | 2.6250 % Crédit Agricole Assurances SA FLR Notes 18/48 | EUR | 0 | 700,000 |
| IT0005366288 | 1.0000 % Credit Agricole Italia S.p.A. MT Mtg.Cov.Bds 19/27 | EUR | 0 | 1,000,000 |
| FR0013516184 | 1.6250 % Crédit Agricole S.A. FLR MTN 20/30 | EUR | 0 | 1,700,000 |
| XS2035564975 | 1.1250 % EnBW Energie Baden-Württem. AG FLR Anl. 19/79 | EUR | 0 | 1,200,000 |
| XS2242931603 | 3.3750 % ENI S.p.A. FLR Notes 20/Und. | EUR | 0 | 1,400,000 |
| EU000A1G0DL7 | 1.7000 % Europ.Fin.Stab.Facility (EFSF) MTN 17/43 | EUR | 0 | 2,000,000 |
| EU000A1G0EL5 | 0.0000 % Europ.Fin.Stab.Facility (EFSF) MTN 21/31 | EUR | 0 | 2,000,000 |
| EU000A285VM2 | 0.0000 % Europaeische Union MTN 20/35 | EUR | 0 | 2,500,000 |
| EU000A3KSXE1 | 0.0000 % Europaeische Union MTN 21/31 | EUR | 0 | 4,122,000 |
| EU000A3KM903 | 0.2000 % Europaeische Union MTN 21/36 | EUR | 0 | 1,200,000 |
| EU000A3K4C42 | 0.4000 % Europaeische Union MTN 21/37 | EUR | 0 | 850,000 |
| EU000A3KT6B1 | 0.4500 % Europaeische Union MTN 21/41 | EUR | 0 | 1,200,000 |
| XS2231792586 | 0.5000 % FCA Bank S.p.A. (Irish Branch) MTN 20/23 | EUR | 0 | 1,500,000 |
| ES0378641346 | 0.0500 % Fdo de Tit.D.Def.Sist.Elec.FTA MT Bonos 19/24 | EUR | 0 | 1,200,000 |
| DE000A2G8W40 | 1.2000 % Freie Hansestadt Bremen Landessch. Ausg.215 19/34 | EUR | 0 | 1,000,000 |
| FR0013205069 | 1.0000 % Gecina S.A. MTN 16/29 | EUR | 0 | 1,000,000 |
| FR0013231768 | 1.5000 % IMERYS S.A. MTN 17/27 | EUR | 0 | 800,000 |
| XS2300175655 | 0.5970 % JPMorgan Chase & Co. FLR MTN 21/33 | EUR | 0 | 1,600,000 |
| ES0000012I32 | 0.5000 % Koenigreich Spanien Bonos 21/31 | EUR | 0 | 7,000,000 |
| ES00000127A2 | 1.9500 % Koenigreich Spanien Obligaciones 15/30 | EUR | 0 | 2,000,000 |
| BE0000320292 | 4.2500 % Königreich Belgien Obl. Lin. S.60 10/41 | EUR | 0 | 3,000,000 |
| BE0000346552 | 1.2500 % Königreich Belgien Obl. Lin. S.86 18/33 | EUR | 0 | 5,000,000 |
| ES0000012E51 | 1.4500 % Königreich Spanien Bonos 19/29 | EUR | 0 | 1,000,000 |
| ES0000012A89 | 1.4500 % Königreich Spanien Obligaciones 17/27 | EUR | 0 | 4,000,000 |
| ES00000128Q6 | 2.3500 % Königreich Spanien Obligaciones 17/33 | EUR | 2,500,000 | 4,000,000 |
| ES0000012F76 | 0.5000 % Königreich Spanien Obligaciones 20/30 | EUR | 0 | 2,700,000 |
| DE000A2GSNR0 | 0.6250 % Kreditanst.f.Wiederaufbau Anl. 18/28 | EUR | 0 | 1,000,000 |
| FR0013399169 | 0.5000 % La Banq. Postale Home Loan SFH MT Obl.FinHab 19/26 | EUR | 0 | 1,900,000 |
| FR0014001R34 | 0.7500 % La Banque Postale FLR MTN 21/32 | EUR | 0 | 1,900,000 |

| ISIN | Securities | Shares/ Units/ Currency | Purchases | Redemptions |
| --- | --- | --- | --- | --- |
| FR0014001IP3 | 0.6250 % La Poste MTN 21/36 | EUR | 0 | 1,800,000 |
| DE000A289QR9 | 0.7500 % Mercedes-Benz Group AG MTN 20/30 | EUR | 0 | 1,300,000 |
| XS1511787589 | 1.3750 % Morgan Stanley MTN S.G 16/26 | EUR | 0 | 1,650,000 |
| XS1499594916 | 0.7500 % Nederlandse Waterschapsbank NV MTN 16/41 | EUR | 0 | 2,000,000 |
| XS2010036874 | 1.7500 % Orsted A/S FLR Notes 19/Und. | EUR | 0 | 2,000,000 |
| XS2296204444 | 0.5000 % Prologis Euro Finance LLC Notes 21/32 | EUR | 0 | 1,200,000 |
| FR0011486067 | 1.7500 % Rep. Frankreich OAT 13/23 | EUR | 0 | 15,000,000 |
| FR0012993103 | 1.5000 % Rep. Frankreich OAT 15/31 | EUR | 0 | 4,000,000 |
| FR0013257524 | 2.0000 % Rep. Frankreich OAT 17/48 | EUR | 0 | 1,000,000 |
| FR0013404969 | 1.5000 % Rep. Frankreich OAT 18/50 | EUR | 0 | 8,000,000 |
| FR0013480613 | 0.7500 % Rep. Frankreich OAT 20/52 | EUR | 0 | 5,500,000 |
| IT0004532559 | 5.0000 % Republik Italien B.T.P. 09/40 | EUR | 0 | 2,500,000 |
| IT0005086886 | 1.3500 % Republik Italien B.T.P. 15/22 | EUR | 10,000,000 | 24,000,000 |
| IT0005217390 | 2.8000 % Republik Italien B.T.P. 16/67 | EUR | 0 | 1,000,000 |
| IT0005321325 | 2.9500 % Republik Italien B.T.P. 18/38 | EUR | 0 | 8,000,000 |
| XS2114767457 | 0.0000 % Republik Polen MTN 20/25 | EUR | 0 | 1,500,000 |
| XS2364199757 | 1.7500 % Republik Rumaenien MTN 21/30 Reg.S | EUR | 0 | 3,100,000 |
| FR0013067196 | 3.0000 % SCOR SE FLR Notes 15/46 | EUR | 0 | 1,600,000 |
| FR0013535101 | 1.3750 % SCOR SE FLR Notes 20/51 | EUR | 0 | 1,300,000 |
| FR00140058G6 | 0.3000 % Société du Grand Paris MTN 21/36 | EUR | 0 | 2,700,000 |
| FR0014000OZ2 | 1.0000 % Société Générale S.A. FLR MTN 20/30 | EUR | 0 | 2,200,000 |
| XS1946788194 | 0.5000 % Swedbank Hypotek AB MT Cov. Bds 19/26 | EUR | 0 | 1,950,000 |
| XS2195096420 | 1.3750 % Symrise AG Anl. 20/27 | EUR | 0 | 950,000 |
| XS2348325221 | 0.1250 % TenneT Holding B.V. MTN 21/27 | EUR | 0 | 2,100,000 |
| XS1696445516 | 1.7500 % Ungarn Bonds 17/27 | EUR | 0 | 1,350,000 |
| XS2259191273 | 0.5000 % Ungarn Bonds 20/30 | EUR | 0 | 2,350,000 |
| XS2386583145 | 0.1250 % Ungarn Bonds 21/28 Reg.S | EUR | 0 | 1,400,000 |
| XS1754213947 | 1.0000 % UniCredit S.p.A. Non-Preferred MTN 18/23 | EUR | 0 | 1,300,000 |
| FR0013369758 | 0.8750 % Union Natle Interp.Em.Com.Ind. MTN 18/28 | EUR | 0 | 1,000,000 |
| FR0013410008 | 0.5000 % Union Natle Interp.Em.Com.Ind. MTN 19/29 | EUR | 0 | 1,200,000 |
| FR0013524410 | 0.2500 % Union Natle Interp.Em.Com.Ind. MTN 20/35 | EUR | 0 | 1,600,000 |

Securities admitted to or included in regulated markets Interest-bearing securities
EUR bonds
| XS2131567138 | 4.3750 % ABN AMRO Bank N.V. FLR Cap. Notes 20/Und. | EUR | 0 | 600,000 |
| --- | --- | --- | --- | --- |
| FR0013457058 | 0.5000 % Action Logement Services SAS MTN 19/34 | EUR | 0 | 3,000,000 |
| XS2332245377 | 3.1000 % Cooeperatieve Rabobank U.A. FLR Cap.Sec. 21/Und. | EUR | 0 | 1,800,000 |
| XS2331271242 | 0.6250 % Deutsche Bahn Finance GmbH MTN 21/36 | EUR | 0 | 4,900,000 |
| XS2114143758 | 0.0500 % Santander Consumer Bank AG Pfe. MTN 20/30 | EUR | 0 | 3,000,000 |
| USD bonds |  |  |  |  |
| US37045XCX21 | 2.7500 % General Motors Financial Co. Notes 20/25 | USD | 0 | 2,000,000 |
| XS1935310166 | 6.5720 % UniCredit S.p.A. Non-Pref. MTN 19/22 Reg.S | USD | 0 | 900,000 |
| Commercial paper |  |  |  |  |
| EUR |  |  |  |  |
| ES0L02209093 | 0.0000 % Koenigreich Spanien Zero Letras d.Tesoro 21/22 | EUR | 10,000,000 | 10,000,000 |
|  |  |  |  |  |
|  | Securities | Shares/ |  | Volume |
|  |  | Units/ |  | in ’000 |
|  |  | Currency |  |  |
| Derivatives |  |  |  |  |

(Option premiums and/or contract volumes pertaining to opening transactions; in the case of warrants, purchases and redemptions are indicated.)
Futures contracts
Interest rate futures contracts
Contracts purchased:	EUR	1,017,495 (Underlying(s): 3M Euribor (FEI) IRF Dez. 22, EURO Bund Future (FGBL) Juni 22, EURO Bund Future (FGBL) März 22, Five-
Year US Treasury Note Future (FV) Juni 22, Five-Year US Treasury Note Future (FV) März 22, Long Term EURO OAT Future (FOAT) Juni 22, Ten-Year US Treasury Note Future (TY) Juni 22, Ten-Year US Treasury Note Future (TY) März 22)
Contracts sold:	EUR	163,006 (Underlying(s): EURO Bobl Future (FGBM) Juni 22, EURO-BTP Future (FBTP) Juni 22, EURO-BTP Future (FBTP) März 22, Long Term
EURO OAT Future (FOAT) Juni 22, Long Term EURO OAT Future (FOAT) März 22, US Treasury Long Bond Future (US) Juni 22)
Options Swaptions
Long put options purchased:	EUR	172
(Underlying(s): SWP Long Pay ITRAXX SER37V1 JPMORGAN_FRA 18.05.22)
Short put options sold:	EUR	80
(Underlying(s): SWP Short Pay ITRAXX SER37V1 JPMORGAN_FRA 18.05.22)
Options on interest rate derivatives Options on interest rate futures contracts
Long call options purchased:	EUR	749,390
(Underlying(s): EURO Bund Future (FGBL) Juni 22, Ten-Year US Treasury Note Future (TY) Juni 22, US Treasury Long Bond Future (US) Juni 22, US Treasury Long Bond Future (US) März 22)
Long put options purchased:	EUR	13,395,302 (Underlying(s): 3M Euribor (FEI) IRF Juni 24, 3M Euribor (FEI) IRF März 24, 3M Euribor (FEI) IRF Sep. 23, EURO Bund Future (FGBL) Juni
22, EURO Bund Future (FGBL) März 22, EURO Bund Future (FGBL) Sep. 22, Ten-Year US Treasury Note Future (TY) Juni 22, Ten-Year US Treasury Note Future (TY) März 22, US Treasury Long Bond Future (US) Juni 22, US Treasury Long Bond Future (US) März 22)
Short call options sold:	EUR	702,301 (Underlying(s): EURO Bund Future (FGBL) Juni 22, Ten-Year US Treasury Note Future (TY) Juni 22, US
Treasury Long Bond Future (US) Juni 22, US Treasury Long Bond Future (US) März 22)
Short put options sold:	EUR	18,925,926 (Underlying(s): 3M Euribor (FEI) IRF Juni 24, 3M Euribor (FEI) IRF März 24, 3M Euribor (FEI) IRF Sep. 23, EURO Bund Future
(FGBL) Juni 22, EURO Bund Future (FGBL) März 22, Ten-Year US Treasury Note Future (TY) Juni 22, Ten-Year US Treasury Note Future (TY) März 22, US Treasury Long Bond Future (US) Juni 22, US Treasury Long Bond Future (US) März 22)
Forward exchange deals Foreign exchange futures (sale) Forward sale of currencies:
USD/EUR	EUR	21,107
Foreign exchange futures (purchase) Forward purchase of currencies:
USD/EUR	EUR	6,196
Currency derivatives
Options on currency derivatives Currency options
Long put options purchased:
EUR/JPY	EUR	25,400,000
Short put options sold:
EUR/JPY	EUR	24,500,000

#### Information on target funds
Front-end loads and/or redemption fees were not charged or not paid. Management fee
Allianz GIF-Allianz Green Bond Inhaber-Anteile W	0.27% p.a.

Translation (ENDE, 2022-05-31):
# Inhalt
##### Allianz Rentenfonds

##### Entwicklung von Fondsvermögen und Anteilwert
Struktur des Fondsvermögens in %

##### 50 

##### 40 

##### 30 22,7

##### 20

##### 10

##### 0

##### 21,7 23,2

##### Belgien	Deutsch- land

##### Frank- reich

##### Großbri- tannien

##### Irland	Italien	Nieder- lande

##### Portugal	Spanien	USA	Sonstige

##### Länder

##### Barreser- ven, Sons- tiges
| Entwicklung von Fondsvermögen und Anteilwert im 3-Jahresvergleich |  |
| --- | --- |
|  | 31.05.2022 | 30.11.2021 | 30.11.2020 | 30.11.2019 |
| Fondsvermögen in Mio. EUR |  |  |  |  |
| - Anteilklasse A (EUR)	WKN: 847 140/ISIN: DE0008471400 | 785,7 | 1.172,7 | 1.419,0 | 1.088,2 |
| - Anteilklasse IT2 (EUR)	WKN: A2A MPP/ISIN: DE000A2AMPP5 | 1,6 | 1,8 | 0,4 | 0,2 |
| - Anteilklasse P (EUR)	WKN: 979 741/ISIN: DE0009797415 | 23,5 | 84,9 | 73,3 | 21,5 |
| - Anteilklasse P2 (EUR)	WKN: 979 765/ISIN: DE0009797654 | 39,2 | 39,8 | 32,6 | 28,1 |
| - Anteilklasse R (EUR)	WKN: A2D U1G/ISIN: DE000A2DU1G9 | 23.811,96  1) | 22.062,42  1) | 14.240,77  1) | 3.636,44  1) |
| Anteilwert in EUR |  |  |  |  |
| - Anteilklasse A (EUR)	WKN: 847 140/ISIN: DE0008471400 | 79,11 | 87,92 | 90,13 | 88,52 |
| - Anteilklasse IT2 (EUR)	WKN: A2A MPP/ISIN: DE000A2AMPP5 | 950,56 | 1.049,55 | 1.066,77 | 1.035,50 |
| - Anteilklasse P (EUR)	WKN: 979 741/ISIN: DE0009797415 | 1.103,32 | 1.228,57 | 1.259,33 | 1.236,65 |
| - Anteilklasse P2 (EUR)	WKN: 979 765/ISIN: DE0009797654 | 89,23 | 99,36 | 101,85 | 100,01 |
| - Anteilklasse R (EUR)	WKN: A2D U1G/ISIN: DE000A2DU1G9 | 92,88 | 103,39 | 105,97 | 103,99 |

1) 

##### Darstellungsweise nicht in Mio. EUR, aufgrund des geringen Fondsvermögens.
| Vermögensübersicht zum 31.05.2022 |  |
| --- | --- |
| Gliederung nach Anlagenart - Land | Kurswert in EUR | % des Fonds- vermögens  *) |
| I. Vermögensgegenstände |  |  |
| 1. Anleihen | 826.299.356,25 | 97,22 |
| Deutschland | 109.844.168,60 | 12,90 |
| Frankreich | 147.511.569,92 | 17,34 |
| Niederlande | 44.059.798,36 | 5,16 |
| Italien | 197.288.561,26 | 23,21 |
| Irland | 16.712.842,61 | 1,97 |
| Portugal | 17.961.319,60 | 2,12 |
| Spanien | 82.334.565,11 | 9,68 |
| Belgien | 24.898.602,85 | 2,92 |
| Luxemburg | 6.442.477,98 | 0,76 |
| Norwegen | 1.308.650,58 | 0,15 |
| Schweden | 4.714.739,86 | 0,56 |
| Finnland | 9.796.694,10 | 1,16 |
| Österreich | 10.082.010,64 | 1,19 |
| Schweiz | 1.416.008,00 | 0,17 |
| Lettland | 1.453.731,35 | 0,17 |
| Polen | 3.712.938,90 | 0,44 |
| Slowakei | 3.964.199,94 | 0,47 |
| Ungarn | 4.895.905,00 | 0,58 |
| Rumänien | 6.769.705,75 | 0,80 |
| Kroatien | 3.872.790,91 | 0,46 |
| Großbritannien | 17.754.949,84 | 2,10 |
| USA | 18.767.492,34 | 2,21 |
| Kanada | 16.203.451,30 | 1,91 |
| Mexiko | 7.465.858,17 | 0,89 |
| Peru | 5.562.135,47 | 0,66 |
| Chile | 3.371.746,10 | 0,40 |
| Indonesien | 1.232.890,38 | 0,15 |
| Philippinen | 872.445,70 | 0,10 |
| Korea, Republik | 431.343,00 | 0,05 |
| Japan | 2.593.270,08 | 0,31 |
| Australien | 2.703.323,03 | 0,32 |
| Sonstige | 50.299.169,52 | 5,91 |
| 2. Investmentanteile | 8,32 | 0,00 |
| Luxemburg | 8,32 | 0,00 |
| 3. Derivate | 4.064.936,92 | 0,48 |
| 4. Bankguthaben, Geldmarktpapiere, | 22.422.378,20 | 2,63 |
| Geldmarkt- und geldmarktnahe Fonds |  |  |
| 5. Sonstige Vermögensgegenstände | 8.409.999,39 | 0,99 |
| II. Verbindlichkeiten | -11.197.501,89 | -1,32 |
| III. Fondsvermögen | 849.999.177,19 | 100,00 |

| Gliederung nach Anlagenart - Währung | Kurswert in EUR | % des Fonds- vermögens  *) |
| --- | --- | --- |
| I. Vermögensgegenstände |  |  |
| 1. Anleihen | 826.299.356,25 | 97,22 |
| EUR | 803.464.812,00 | 94,52 |
| USD | 22.834.544,25 | 2,70 |
| 2. Investmentanteile | 8,32 | 0,00 |
| EUR | 8,32 | 0,00 |
| 3. Derivate | 4.064.936,92 | 0,48 |
| 4. Bankguthaben, Geldmarktpapiere, Geldmarkt- und geldmarktnahe Fonds | 22.422.378,20 | 2,63 |
| 5. Sonstige Vermögensgegenstände | 8.409.999,39 | 0,99 |
| II. Verbindlichkeiten | -11.197.501,89 | -1,32 |
| III. Fondsvermögen | 849.999.177,19 | 100,00 |

*) 
Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Run- dungsdifferenzen entstanden sein.

#### Vermögensaufstellung zum 31.05.2022
| ISIN | Gattungsbezeichnung | Markt | Stück bzw. Anteile bzw. | Bestand 31.05.2022 | Käufe/	Verkäufe/ Zugänge	Abgänge | Kurs | Kurswert in EUR | % des Fondsver- |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Währung	im Berichtszeitraum	mögens Börsengehandelte Wertpapiere	770.001.602,46	90,58 Verzinsliche Wertpapiere	770.001.602,46	90,58 |
| EUR-Anleihen |  |  |  |  |  |  |  | 752.287.879,20 | 88,49 |
| XS2055646918 XS2113911387 | 0,7500 % AbbVie Inc. Notes 19/27 1,2500 % Abertis Infraestruc- | EUR | 1.000.000 | 0 | 0 | % | 92,437 | 924.370,10 | 0,11 |
|  | turas S.A. MTN 20/28 | EUR | 1.900.000 | 0 | 0 | % | 91,587 | 1.740.147,11 | 0,20 |
| XS2113700921 | 0,5000 % ACEA S.p.A. MTN 20/29 | EUR | 2.400.000 | 0 | 0 | % | 86,319 | 2.071.662,48 | 0,24 |
| XS2175967343 FR0013312774 | 1,5000 % Achmea B.V. MTN 20/27 1,0000 % Agence Française Dé- | EUR | 2.000.000 | 0 | 0 | % | 98,168 | 1.963.353,80 | 0,23 |
| FR0013461688 | veloppement MTN 18/28 0,5000 % Agence Française Dé- | EUR | 2.800.000 | 0 | 0 | % | 98,160 | 2.748.480,00 | 0,32 |
| FR0014000AU2 | veloppement MTN 19/35 0,0000 % Agence Française Dé- | EUR | 3.000.000 | 0 | 0 | % | 82,661 | 2.479.830,60 | 0,29 |
|  | veloppement MTN 20/27 | EUR | 3.000.000 | 0 | 0 | % | 93,352 | 2.800.547,70 | 0,33 |
| FR0014004QX4 | 0,1250 % Alstom S.A. Notes 21/27 | EUR | 2.800.000 | 0 | 1.000.000 | % | 88,968 | 2.491.101,76 | 0,29 |
| FR00140010J1 XS2056491587 | 1,7500 % Altarea S.C.A. Bonds 20/30 2,1240 % Assicurazioni Gene- | EUR | 1.400.000 | 0 | 0 | % | 76,087 | 1.065.221,64 | 0,13 |
| FR0013520210 | rali S.p.A. MTN 19/30 0,1250 % AXA Home Loan SFH | EUR | 950.000 | 0 | 0 | % | 87,266 | 829.025,01 | 0,10 |
| IT0005461626 | S.A. MT Obl.Fin.Hab. 20/35 0,6250 % Banca Carige S.p.A. | EUR | 2.000.000 | 2.000.000 | 0 | % | 78,166 | 1.563.313,80 | 0,18 |
| XS1956973967 | MT Cov. Bds 21/28 1,1250 % Banco Bilbao Vizcaya Ar- | EUR | 4.300.000 | 0 | 600.000 | % | 92,701 | 3.986.135,69 | 0,47 |
| XS2058729653 | gent. Non-Pref. MTN 19/24 0,3750 % Banco Bilbao Vizcaya Ar- | EUR | 1.100.000 | 0 | 0 | % | 100,020 | 1.100.220,55 | 0,13 |
| XS2013745703 | gent. Non-Pref. MTN 19/24 1,0000 % Banco Bilbao Vizcaya Ar- | EUR | 1.000.000 | 0 | 0 | % | 97,584 | 975.841,80 | 0,11 |
| XS1991397545 | gent. Non-Pref. MTN 19/26 1,7500 % Banco de Sabadell S.A. | EUR | 1.000.000 | 0 | 0 | % | 96,141 | 961.405,50 | 0,11 |
| ES0413900566 | Non-Preferred MTN 19/24 0,2500 % Banco Santander S.A. | EUR | 2.000.000 | 0 | 0 | % | 98,419 | 1.968.388,80 | 0,23 |
| ES0413900558 | Mortg.Cov. MTN 19/29 0,8750 % Banco Santander S.A. | EUR | 3.000.000 | 0 | 0 | % | 90,402 | 2.712.065,40 | 0,32 |
| XS1751004232 | Mortg.Cov. MTN 19/31 1,1250 % Banco Santander S.A. | EUR | 5.500.000 | 4.000.000 | 0 | % | 91,960 | 5.057.823,65 | 0,60 |
|  | Non-Pref. MTN 18/25 | EUR | 2.100.000 | 0 | 0 | % | 98,408 | 2.066.561,70 | 0,24 |
| ES0213679HN2 | 0,8750 % Bankinter S.A. Non-Pref. Obl. 19/26 | EUR | 2.100.000 | 0 | 0 | % | 94,338 | 1.981.103,88 | 0,23 |
| XS1678970291 | 2,0000 % Barclays PLC FLR MTN 17/28 | EUR | 1.500.000 | 0 | 2.000.000 | % | 99,653 | 1.494.801,75 | 0,18 |
| XS2082324364 XS2002532724 | 0,7500 % Barclays PLC FLR MTN 19/25 1,2080 % Becton Dickinson Euro | EUR | 2.000.000 | 0 | 0 | % | 97,371 | 1.947.422,00 | 0,23 |
|  | Fin.Sarl Notes 19/26 | EUR | 1.300.000 | 0 | 0 | % | 96,704 | 1.257.150,96 | 0,15 |
| XS2280845491 | 0,0000 % BMW Finance N.V. MTN 21/26 | EUR | 1.250.000 | 0 | 0 | % | 94,465 | 1.180.813,13 | 0,14 |
| FR0013476611 FR00140005J1 | 1,1250 % BNP Paribas S.A. FLR MTN 20/32 0,3750 % BNP Paribas S.A. FLR | EUR | 1.700.000 | 0 | 1.000.000 | % | 89,906 | 1.528.397,24 | 0,18 |
|  | Non-Pref. MTN 20/27 | EUR | 1.700.000 | 0 | 0 | % | 91,723 | 1.559.295,76 | 0,18 |
| XS1325645825 | 2,7500 % BNP Paribas S.A. MTN 15/26 | EUR | 1.000.000 | 0 | 0 | % | 100,200 | 1.001.996,90 | 0,12 |
| FR0013063385 | 2,7500 % BPCE S.A. FLR MTN 15/27 | EUR | 1.500.000 | 0 | 0 | % | 100,828 | 1.512.414,30 | 0,18 |
| FR00140027U2 XS1587911451 | 0,7500 % BPCE S.A. Non-Preferred MTN 21/31 2,6250 % Bque Fédérative du | EUR | 1.600.000 | 0 | 1.000.000 | % | 83,982 | 1.343.714,72 | 0,16 |
| FR0014001I68 | Cr. Mutuel MTN 17/27 0,2500 % Bque Fédérative du Cr. Mu- | EUR | 1.000.000 | 0 | 0 | % | 99,025 | 990.253,40 | 0,12 |
|  | tuel Non-Pref. MTN 21/28 | EUR | 2.000.000 | 0 | 1.600.000 | % | 86,811 | 1.736.217,20 | 0,20 |
| DE0001135473 | 1,7500 % Bundesrep.Deutschland Anl. 12/22 | EUR | 11.000.000 | 0 | 5.000.000 | % | 100,211 | 11.023.210,00 | 1,30 |
| DE0001102358 | 1,5000 % Bundesrep.Deutschland Anl. 14/24 | EUR | 14.000.000 | 0 | 0 | % | 102,240 | 14.313.600,00 | 1,68 |
| DE0001102341 | 2,5000 % Bundesrep.Deutschland Anl. 14/46 | EUR | 4.000.000 | 1.000.000 | 2.000.000 | % | 126,126 | 5.045.040,00 | 0,59 |
| DE0001102390 | 0,5000 % Bundesrep.Deutschland Anl. 16/26 | EUR | 6.000.000 | 0 | 2.000.000 | % | 99,541 | 5.972.460,00 | 0,70 |
| DE0001102416 | 0,2500 % Bundesrep.Deutschland Anl. 17/27 | EUR | 4.035.000 | 0 | 0 | % | 97,832 | 3.947.521,20 | 0,46 |
| DE0001102424 | 0,5000 % Bundesrep.Deutschland Anl. 17/27 | EUR | 3.000.000 | 0 | 0 | % | 98,563 | 2.956.890,00 | 0,35 |
| DE0001102440 | 0,5000 % Bundesrep.Deutschland Anl. 18/28 | EUR | 4.000.000 | 0 | 8.000.000 | % | 98,207 | 3.928.280,00 | 0,46 |
| DE0001102481 | 0,0000 % Bundesrep.Deutschland Anl. 19/50 | EUR | 8.000.000 | 2.750.000 | 4.000.000 | % | 69,405 | 5.552.399,20 | 0,65 |
| DE0001102515 | 0,0000 % Bundesrep.Deutschland Anl. 20/35 | EUR | 7.900.000 | 6.000.000 | 5.600.000 | % | 85,433 | 6.749.206,21 | 0,79 |
| DE0001102549 DE0001030559 | 0,0000 % Bundesrep.Deutschland Anl. 21/36 0,5000 % Bundesrep.Deutsch- | EUR | 8.500.000 | 13.500.000 | 5.000.000 | % | 84,089 | 7.147.564,15 | 0,84 |
|  | land Inflation-Ind. Anl. 14/30 | EUR | 10.000.000 | 10.000.000 | 0 | % | 117,024 | 13.457.877,02 | 1,58 |

Die Fußnotenerklärungen befinden sich am Ende der Tabelle.

#### Vermögensaufstellung zum 31.05.2022
| ISIN | Gattungsbezeichnung | Markt | Stück bzw. Anteile bzw. Währung | Bestand 31.05.2022 | Käufe/	Verkäufe/ Zugänge	Abgänge im Berichtszeitraum | Kurs | Kurswert in EUR | % des Fondsver- mögens |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| FR0013534559 | 0,0000 % Cais. d‘Amort.de la |  |  |  |  |  |  |  |  |
| PTCGDCOM0037 | Dette Soc. MTN 20/30 0,3750 % Caixa Geral de Depósi- | EUR | 3.000.000 | 0 | 0 | % | 87,273 | 2.618.178,60 | 0,31 |
|  | tos S.A. FLR Pref. MTN 21/27 | EUR | 1.700.000 | 0 | 0 | % | 91,716 | 1.559.174,21 | 0,18 |
| XS2310118976 ES0213307061 | 1,2500 % Caixabank S.A. FLR MTN 21/31 1,1250 % Caixabank S.A. Non- | EUR | 1.000.000 | 0 | 1.700.000 | % | 90,887 | 908.865,10 | 0,11 |
| XS2055758804 | Preferred Bonos 19/26 0,6250 % Caixabank S.A. Non- | EUR | 1.500.000 | 0 | 0 | % | 94,107 | 1.411.604,40 | 0,17 |
| XS2013574038 | Preferred MTN 19/24 1,3750 % Caixabank S.A. Non- | EUR | 3.000.000 | 0 | 0 | % | 97,070 | 2.912.087,70 | 0,34 |
|  | Preferred MTN 19/26 | EUR | 1.300.000 | 0 | 0 | % | 95,806 | 1.245.481,64 | 0,15 |
| ES0213307053 XS2393661397 | 0,7500 % Caixabank S.A. Preferred Bonos 19/26 0,0100 % Canadian Imperial Bk of | EUR | 1.300.000 | 0 | 0 | % | 94,336 | 1.226.363,97 | 0,14 |
| IT0005346579 | Comm. MT Cov. Bonds 21/26 2,1250 % Cassa Depositi e Pres- | EUR | 2.300.000 | 0 | 0 | % | 94,105 | 2.164.411,78 | 0,25 |
| IT0005366460 | titi SpA MTN 18/23 2,1250 % Cassa Depositi e Pres- | EUR | 2.000.000 | 0 | 0 | % | 101,961 | 2.039.214,80 | 0,24 |
| IT0005422032 | titi SpA MTN 19/26 1,0000 % Cassa Depositi e Pres- | EUR | 700.000 | 0 | 1.300.000 | % | 100,814 | 705.700,24 | 0,08 |
| XS2300292617 | titi SpA MTN 20/28 0,7500 % Cellnex Finance Com- | EUR | 1.800.000 | 0 | 0 | % | 91,680 | 1.650.241,26 | 0,19 |
|  | pany S.A. MTN 21/26 | EUR | 2.000.000 | 0 | 0 | % | 89,034 | 1.780.676,00 | 0,21 |
| XS2193658619 XS1823623878 | 1,8750 % Cellnex Telecom S.A. MTN 20/29 1,8750 % CNH Industrial Fi- | EUR | 1.900.000 | 0 | 0 | % | 83,893 | 1.593.960,35 | 0,19 |
| XS2022084367 | nance Euro.SA MTN 18/26 1,6250 % CNH Industrial Fi- | EUR | 2.000.000 | 0 | 1.000.000 | % | 99,098 | 1.981.951,00 | 0,23 |
|  | nance Euro.SA MTN 19/29 | EUR | 1.650.000 | 0 | 0 | % | 92,304 | 1.523.011,88 | 0,18 |
| FR0013521630 | 2,5000 % CNP Assurances S.A. FLR Notes 20/51 | EUR | 800.000 | 0 | 0 | % | 88,748 | 709.986,48 | 0,08 |
| FR0014000XY6 BE0002750314 | 0,3750 % CNP Assurances S.A. MTN 20/28 0,0000 % Communauté fran- | EUR | 2.300.000 | 0 | 1.000.000 | % | 85,692 | 1.970.925,89 | 0,23 |
|  | çaise Belgique MTN 20/29 | EUR | 2.300.000 | 0 | 1.700.000 | % | 90,213 | 2.074.899,00 | 0,24 |
| XS2056430874 FR0014003182 | 0,3750 % Continental AG MTN 19/25 0,3750 % Crédit Agricole S.A. | EUR | 2.550.000 | 0 | 0 | % | 95,300 | 2.430.148,22 | 0,29 |
| IT0005451759 | Non-Preferred MTN 21/28 0,0100 % Credito Emiliano S.p.A. | EUR | 1.000.000 | 0 | 1.900.000 | % | 88,008 | 880.075,80 | 0,10 |
| DE000A2TSDV6 | Mortg.Cov. Bds 21/28 0,0500 % DZ HYP AG MTN | EUR | 4.800.000 | 0 | 0 | % | 89,734 | 4.307.248,80 | 0,51 |
| XS2035564629 | Hyp.-Pfe. R.1215 19/29 1,6250 % EnBW Energie Baden- | EUR | 2.000.000 | 0 | 0 | % | 89,745 | 1.794.904,20 | 0,21 |
|  | Württem. AG FLR Anl. 19/79 | EUR | 700.000 | 0 | 0 | % | 85,766 | 600.361,23 | 0,07 |
| XS2390400633 | 0,0000 % ENEL Finance Intl N.V. MTN 21/26 | EUR | 1.700.000 | 0 | 0 | % | 92,149 | 1.566.533,17 | 0,18 |
| XS2432293673 | 0,2500 % ENEL Finance Intl N.V. MTN 22/25 | EUR | 1.700.000 | 2.700.000 | 1.000.000 | % | 94,770 | 1.611.087,62 | 0,19 |
| XS1713463559 | 3,3750 % ENEL S.p.A. FLR Cap. Secs 18/Und. | EUR | 1.050.000 | 0 | 0 | % | 97,682 | 1.025.664,05 | 0,12 |
| FR0014000RR2 | 1,5000 % Engie S.A. FLR Notes 20/Und. | EUR | 1.500.000 | 0 | 0 | % | 82,936 | 1.244.038,05 | 0,15 |
| XS2242929532 | 2,6250 % ENI S.p.A. FLR Notes 20/Und. | EUR | 1.700.000 | 0 | 0 | % | 95,222 | 1.618.772,47 | 0,19 |
| XS2107315470 | 0,6250 % ENI S.p.A. MTN 20/30 | EUR | 1.350.000 | 0 | 0 | % | 86,733 | 1.170.894,15 | 0,14 |
| XS2297177664 | 0,2500 % Essity AB MTN 21/31 | EUR | 1.650.000 | 0 | 0 | % | 81,322 | 1.341.804,92 | 0,16 |
| XS2333297625 EU000A1G0DD4 | 0,7410 % Eurogrid GmbH MTN 21/33 1,2000 % Europ.Fin.Stab.Faci- | EUR | 1.800.000 | 0 | 0 | % | 80,368 | 1.446.626,88 | 0,17 |
| EU000A1G0DR4 | lity (EFSF) MTN 15/45 0,7500 % Europ.Fin.Stab.Faci- | EUR | 700.000 | 0 | 0 | % | 86,720 | 607.037,90 | 0,07 |
| EU000A1G0EE0 | lity (EFSF) MTN 17/27 0,0500 % Europ.Fin.Stab.Faci- | EUR | 3.000.000 | 0 | 0 | % | 98,051 | 2.941.528,20 | 0,35 |
|  | lity (EFSF) MTN 19/29 | EUR | 4.000.000 | 0 | 0 | % | 90,527 | 3.621.063,20 | 0,43 |
| EU000A283859 | 0,0000 % Europaeische Union MTN 20/30 | EUR | 1.500.000 | 0 | 0 | % | 88,556 | 1.328.344,95 | 0,16 |
| EU000A3KNYF7 | 0,0000 % Europaeische Union MTN 21/26 | EUR | 1.800.000 | 0 | 3.200.000 | % | 96,397 | 1.735.141,68 | 0,20 |
| EU000A3KTGV8 | 0,0000 % Europaeische Union MTN 21/26 | EUR | 1.400.000 | 0 | 0 | % | 95,892 | 1.342.493,04 | 0,16 |
| EU000A287074 | 0,0000 % Europaeische Union MTN 21/28 | EUR | 3.050.000 | 0 | 0 | % | 92,737 | 2.828.487,35 | 0,33 |
| EU000A3KWCF4 | 0,0000 % Europaeische Union MTN 21/28 | EUR | 3.500.000 | 2.000.000 | 0 | % | 92,167 | 3.225.857,25 | 0,38 |
| EU000A3K4DD8 | 1,0000 % Europaeische Union MTN 22/32 | EUR | 4.600.000 | 5.600.000 | 1.000.000 | % | 93,939 | 4.321.202,28 | 0,51 |
| EU000A3K4DG1 | 1,2500 % Europaeische Union MTN 22/43 | EUR | 1.000.000 | 1.000.000 | 0 | % | 88,847 | 888.470,70 | 0,10 |
| EU000A1GVVF8 EU000A1U9894 | 3,0000 % Europäische Union MTN 11/26 1,0000 % Europäischer Stabili- | EUR | 1.000.000 | 0 | 0 | % | 108,155 | 1.081.548,40 | 0,13 |
|  | täts.(ESM) MTN 15/25 | EUR | 7.000.000 | 0 | 0 | % | 100,083 | 7.005.810,70 | 0,82 |

Die Fußnotenerklärungen befinden sich am Ende der Tabelle.

#### Vermögensaufstellung zum 31.05.2022
| ISIN | Gattungsbezeichnung | Markt | Stück bzw. Anteile bzw. Währung | Bestand 31.05.2022 | Käufe/	Verkäufe/ Zugänge	Abgänge im Berichtszeitraum | Kurs | Kurswert in EUR | % des Fondsver- mögens |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| EU000A1Z99B9 | 0,7500 % Europäischer Stabili- |  |  |  |  |  |  |  |  |
| EU000A1Z99H6 | täts.(ESM) MTN 17/27 0,5000 % Europäischer Stabili- | EUR | 2.800.000 | 0 | 2.200.000 | % | 98,078 | 2.746.184,84 | 0,32 |
| XS1555331617 | täts.(ESM) MTN 19/29 0,5000 % European Invest- | EUR | 3.100.000 | 0 | 0 | % | 94,314 | 2.923.737,41 | 0,34 |
| XS1612977717 | ment Bank MTN 17/27 1,1250 % European Invest- | EUR | 2.500.000 | 0 | 0 | % | 97,285 | 2.432.134,75 | 0,29 |
| XS2102495673 | ment Bank MTN 17/33 0,0500 % European Invest- | EUR | 2.000.000 | 0 | 0 | % | 94,200 | 1.883.999,60 | 0,22 |
| XS2258558464 | ment Bank MTN 20/30 0,1250 % FCA Bank S.p.A. (Irish | EUR | 3.000.000 | 3.000.000 | 0 | % | 90,092 | 2.702.752,80 | 0,32 |
|  | Branch) MTN 20/23 | EUR | 1.000.000 | 0 | 0 | % | 98,621 | 986.209,90 | 0,12 |
| XS2337252931 | 0,4500 % Fedex Corp. Notes 21/29 | EUR | 2.100.000 | 0 | 0 | % | 87,242 | 1.832.086,20 | 0,22 |
| ES0205032032 XS1843436228 | 1,3820 % Ferrovial Emisiones S.A. Notes 20/26 1,5000 % Fidelity Natl Inform. | EUR | 1.900.000 | 0 | 2.000.000 | % | 98,238 | 1.866.526,18 | 0,22 |
|  | Svcs Inc. Notes 19/27 | EUR | 2.500.000 | 0 | 0 | % | 95,798 | 2.394.959,50 | 0,28 |
| XS2400296773 DE000A2G8W65 | 0,7500 % FNM S.p.A. MTN 21/26 1,0000 % Freie Hansestadt Bremen | EUR | 1.800.000 | 0 | 0 | % | 90,979 | 1.637.619,30 | 0,19 |
| XS2307768734 | Landessch. Ausg.217 19/39 0,6000 % General Motors Fi- | EUR | 1.000.000 | 0 | 350.000 | % | 85,917 | 859.172,20 | 0,10 |
| FR0014004EF7 | nancial Co. MTN 21/27 0,7500 % Groupama Assuran- | EUR | 2.150.000 | 0 | 0 | % | 88,732 | 1.907.744,67 | 0,22 |
| XS2261215011 | ces Mutuelles Notes 21/28 0,5000 % Holcim Finance (Lu- | EUR | 2.300.000 | 0 | 1.000.000 | % | 84,654 | 1.947.050,97 | 0,23 |
|  | xembg) S.A. Notes 20/31 Reg.S | EUR | 2.100.000 | 0 | 0 | % | 80,017 | 1.680.364,14 | 0,20 |
| XS2251736646 | 0,3090 % HSBC Holdings PLC FLR MTN 20/26 | EUR | 2.000.000 | 0 | 0 | % | 93,212 | 1.864.233,40 | 0,22 |
| XS2251736992 | 0,7700 % HSBC Holdings PLC FLR MTN 20/31 | EUR | 600.000 | 0 | 1.000.000 | % | 83,339 | 500.035,50 | 0,06 |
| FR0014000KN6 | 0,2000 % Ile-de-France Mobilités MTN 20/35 | EUR | 1.300.000 | 0 | 0 | % | 78,260 | 1.017.383,77 | 0,12 |
| FR0014003GX7 XS1952576475 | 1,0000 % IMERYS S.A. MTN 21/31 0,7500 % ING Bank N.V. MT | EUR | 1.200.000 | 0 | 0 | % | 79,224 | 950.683,56 | 0,11 |
|  | Mortg.Cov. Bds 19/29 | EUR | 5.000.000 | 5.000.000 | 3.000.000 | % | 94,790 | 4.739.486,50 | 0,56 |
| XS1590823859 | 3,0000 % ING Groep N.V. FLR MTN 17/28 | EUR | 1.700.000 | 0 | 0 | % | 101,277 | 1.721.716,65 | 0,20 |
| XS2281155254 XS1998930926 | 0,2500 % ING Groep N.V. FLR MTN 21/30 0,2500 % International Bank | EUR | 1.500.000 | 0 | 1.000.000 | % | 84,686 | 1.270.284,30 | 0,15 |
| XS2122894855 | Rec. Dev. MTN 19/29 0,0000 % International Bank | EUR | 4.000.000 | 0 | 0 | % | 92,035 | 3.681.391,60 | 0,43 |
| XS2304664167 | Rec. Dev. MTN 20/30 0,6250 % Intesa Sanpaolo S.p.A. | EUR | 2.000.000 | 0 | 0 | % | 88,817 | 1.776.337,80 | 0,21 |
| XS2081018629 | Non-Preferred MTN 21/26 1,0000 % Intesa Sanpaolo | EUR | 3.000.000 | 0 | 0 | % | 92,120 | 2.763.597,60 | 0,33 |
| XS2022424993 | S.p.A. Pref. MTN 19/26 1,7500 % Intesa Sanpaolo | EUR | 2.500.000 | 0 | 2.000.000 | % | 93,412 | 2.335.304,50 | 0,27 |
| XS1979446843 | S.p.A. Pref. MTN 19/29 1,5000 % Intesa Sanpaolo S.p.A. | EUR | 1.300.000 | 0 | 0 | % | 92,161 | 1.198.088,19 | 0,14 |
| XS2317069685 | Preferred MTN 19/24 0,7500 % Intesa Sanpaolo S.p.A. | EUR | 700.000 | 0 | 0 | % | 100,352 | 702.463,02 | 0,08 |
| XS2115091808 | Preferred MTN 21/28 0,6500 % Intl Business Machi- | EUR | 2.300.000 | 0 | 0 | % | 89,131 | 2.050.016,68 | 0,24 |
| XS2066003901 | nes Corp. Notes 20/32 0,0000 % Intl Development As- | EUR | 1.700.000 | 0 | 1.000.000 | % | 84,846 | 1.442.382,00 | 0,17 |
|  | sociation MTN 19/26 | EUR | 1.300.000 | 0 | 0 | % | 94,280 | 1.225.645,07 | 0,14 |
| FR0013509627 | 2,0000 % JCDecaux S.A. Bonds 20/24 | EUR | 2.400.000 | 0 | 0 | % | 100,569 | 2.413.655,52 | 0,28 |
| FR0014000KT3 | 0,8750 % Klépierre S.A. MTN 20/31 | EUR | 1.400.000 | 0 | 1.000.000 | % | 82,091 | 1.149.271,90 | 0,14 |
| BE0000348574 | 1,7000 % Koenigreich Belgien Obl. Lin. 19/50 | EUR | 4.500.000 | 0 | 0 | % | 88,885 | 3.999.824,55 | 0,47 |
| ES0000012J07 | 1,0000 % Koenigreich Spanien Bonos 21/42 | EUR | 1.250.000 | 0 | 0 | % | 75,550 | 944.374,88 | 0,11 |
| XS2229470146 | 0,8750 % Kon. KPN N.V. MTN 20/32 | EUR | 1.400.000 | 0 | 0 | % | 83,715 | 1.172.006,92 | 0,14 |
| BE0000351602 | 0,0000 % Königreich Belgien Bons d‘Etat 20/27 | EUR | 6.500.000 | 0 | 0 | % | 94,631 | 6.151.015,00 | 0,72 |
| BE0000347568 | 0,9000 % Königreich Belgien Obl. Lin. 19/29 | EUR | 1.500.000 | 0 | 0 | % | 97,731 | 1.465.965,00 | 0,17 |
| BE0000350596 | 0,4000 % Königreich Belgien Obl. Lin. 20/40 | EUR | 7.000.000 | 0 | 0 | % | 74,995 | 5.249.649,30 | 0,62 |
| BE0000324336 | 4,5000 % Königreich Belgien Obl. Lin. S.64 11/26 | EUR | 3.500.000 | 0 | 2.000.000 | % | 114,070 | 3.992.450,00 | 0,47 |
| BE0000345547 | 0,8000 % Königreich Belgien Obl. Lin. S.85 18/28 | EUR | 2.000.000 | 0 | 5.000.000 | % | 98,240 | 1.964.800,00 | 0,23 |
| NL0010733424 | 2,0000 % Königreich Niederlande Anl. 14/24 | EUR | 4.000.000 | 0 | 4.000.000 | % | 103,248 | 4.129.920,00 | 0,49 |
| NL0013552060 | 0,5000 % Königreich Niederlande Anl. 19/40 | EUR | 7.500.000 | 11.500.000 | 4.000.000 | % | 83,078 | 6.230.849,25 | 0,73 |
| ES00000124H4 | 5,1500 % Königreich Spanien Bonos 13/44 | EUR | 1.500.000 | 0 | 0 | % | 143,791 | 2.156.865,00 | 0,25 |
| ES0000012B88 | 1,4000 % Königreich Spanien Bonos 18/28 | EUR | 7.000.000 | 3.000.000 | 6.000.000 | % | 99,109 | 6.937.629,30 | 0,82 |

Die Fußnotenerklärungen befinden sich am Ende der Tabelle.

#### Vermögensaufstellung zum 31.05.2022
| ISIN | Gattungsbezeichnung | Markt | Stück bzw. Anteile bzw. Währung | Bestand 31.05.2022 | Käufe/	Verkäufe/ Zugänge	Abgänge im Berichtszeitraum | Kurs | Kurswert in EUR | % des Fondsver- mögens |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| ES0000012B47 | 2,7000 % Königreich Spanien Bonos 18/48 | EUR | 6.000.000 | 0 | 2.000.000 | % | 100,155 | 6.009.299,40 | 0,71 |
| ES0000012E85 ES00000127Z9 | 0,2500 % Königreich Spanien Bonos 19/24 1,9500 % Königreich Spa- | EUR | 12.000.000 | 0 | 5.000.000 | % | 98,949 | 11.873.880,00 | 1,40 |
| ES0000012G34 | nien Obligaciones 16/26 1,2500 % Königreich Spa- | EUR | 12.000.000 | 0 | 0 | % | 102,803 | 12.336.360,00 | 1,45 |
| ES0000012G42 | nien Obligaciones 20/30 1,2000 % Königreich Spa- | EUR | 2.000.000 | 0 | 5.000.000 | % | 95,244 | 1.904.886,60 | 0,22 |
|  | nien Obligaciones 20/40 | EUR | 9.500.000 | 1.500.000 | 0 | % | 79,813 | 7.582.234,07 | 0,89 |
| DE000A11QTF7 | 0,3750 % Kreditanst.f.Wiederaufbau MTN 15/30 | EUR | 5.000.000 | 5.000.000 | 0 | % | 92,086 | 4.604.304,50 | 0,54 |
| DE000A168Y48 | 1,2500 % Kreditanst.f.Wiederaufbau MTN 16/36 | EUR | 1.300.000 | 0 | 0 | % | 92,566 | 1.203.362,03 | 0,14 |
| DE000A2LQSH4 | 0,7500 % Kreditanst.f.Wiederaufbau MTN 18/28 | EUR | 2.500.000 | 0 | 0 | % | 97,434 | 2.435.861,25 | 0,29 |
| DE000A2LQSN2 | 0,7500 % Kreditanst.f.Wiederaufbau MTN 19/29 | EUR | 1.550.000 | 0 | 0 | % | 96,692 | 1.498.721,97 | 0,18 |
| XS2331327564 | 0,0000 % Kreditanst.f.Wiederaufbau MTN 21/29 | EUR | 2.000.000 | 2.000.000 | 0 | % | 91,013 | 1.820.267,80 | 0,21 |
| DE000A3H2ZF6 FR0013518024 | 0,0000 % Kreditanst.f.Wiederaufbau MTN 21/31 0,5000 % La Banque Postale | EUR | 3.000.000 | 3.000.000 | 0 | % | 87,906 | 2.637.182,10 | 0,31 |
|  | FLR Non-Pref. MTN 20/26 | EUR | 1.100.000 | 0 | 0 | % | 95,283 | 1.048.113,22 | 0,12 |
| DE000A2TR6J9 | 0,3750 % Land Brandenburg Schatzanw. 20/35 | EUR | 2.000.000 | 0 | 0 | % | 83,084 | 1.661.678,40 | 0,20 |
| DE000A1RQC02 DE000NRW0JJ8 | 0,7500 % Land Hessen Schatzanw. S.1607 16/36 1,2500 % Land Nordrhein-Westfalen | EUR | 1.000.000 | 0 | 0 | % | 85,598 | 855.975,00 | 0,10 |
| DE000NRW0J22 | MT Landessch.R.1410 16/36 1,0000 % Land Nordrhein-Westfalen | EUR | 1.500.000 | 0 | 500.000 | % | 92,042 | 1.380.634,65 | 0,16 |
| XS2384269101 | MT Landessch.R.1427 16/46 0,2500 % LeasePlan Corpora- | EUR | 1.500.000 | 0 | 500.000 | % | 81,906 | 1.228.584,75 | 0,14 |
| XS1749378342 | tion N.V. MTN 21/26 0,6250 % Lloyds Banking Group | EUR | 2.450.000 | 0 | 0 | % | 91,244 | 2.235.479,47 | 0,26 |
| IT0005378036 | PLC FLR MTN 18/24 0,5000 % Mediobanca - Bca Cred. | EUR | 1.000.000 | 0 | 0 | % | 100,095 | 1.000.946,30 | 0,12 |
| XS2027957815 | Fin. SpA Mortg.Cov.MTN 19/26 1,1250 % Mediobanca - Bca Cred. | EUR | 1.100.000 | 0 | 0 | % | 96,143 | 1.057.578,17 | 0,12 |
|  | Fin. SpA Preferred MTN 19/25 | EUR | 1.550.000 | 0 | 0 | % | 96,651 | 1.498.089,57 | 0,18 |
| DE000A2YNZW8 | 0,3750 % Mercedes-Benz Int.Fin. B.V. MTN 19/26 | EUR | 2.000.000 | 0 | 0 | % | 94,408 | 1.888.159,60 | 0,22 |
| XS2218405772 | 1,6250 % Merck KGaA FLR Sub.Anl. 20/80 | EUR | 1.500.000 | 0 | 0 | % | 93,529 | 1.402.930,20 | 0,17 |
| XS2080205367 | 0,7500 % NatWest Group PLC FLR MTN 19/25 | EUR | 2.000.000 | 0 | 0 | % | 96,960 | 1.939.205,60 | 0,23 |
| XS2307853098 | 0,7800 % NatWest Group PLC FLR MTN 21/30 | EUR | 1.000.000 | 0 | 0 | % | 85,975 | 859.751,70 | 0,10 |
| XS1076781589 | 4,3750 % NN Group N.V. FLR MTN 14/Und. | EUR | 1.200.000 | 0 | 0 | % | 102,695 | 1.232.334,84 | 0,14 |
| DE000NWB0AK3 | 0,1000 % NRW.BANK MTN IHS Ausg.0AK 20/35 | EUR | 1.700.000 | 1.700.000 | 0 | % | 78,694 | 1.337.789,50 | 0,16 |
| XS2305026762 XS2258389415 | 0,0100 % NTT Finance Corp. Notes 21/25 Reg.S 0,1000 % OP Yrityspankki Oyj | EUR | 2.700.000 | 0 | 0 | % | 96,047 | 2.593.270,08 | 0,31 |
|  | Preferred MTN 20/27 | EUR | 1.000.000 | 0 | 1.450.000 | % | 89,621 | 896.206,10 | 0,11 |
| FR0013447877 | 1,7500 % Orange S.A. FLR MTN 19/Und. | EUR | 1.600.000 | 0 | 0 | % | 92,229 | 1.475.658,40 | 0,17 |
| FR00140005L7 | 1,7500 % Orange S.A. FLR MTN 20/Und. | EUR | 1.500.000 | 0 | 0 | % | 87,966 | 1.319.483,70 | 0,16 |
| XS2270397016 | 0,5000 % Poste Italiane S.p.A. MTN 20/28 | EUR | 1.350.000 | 0 | 0 | % | 87,461 | 1.180.728,23 | 0,14 |
| XS1303312034 | 0,8750 % Provinz British Columbia MTN 15/25 | EUR | 1.000.000 | 0 | 2.000.000 | % | 98,788 | 987.876,20 | 0,12 |
| FR0013476090 | 1,1250 % RCI Banque S.A. MTN 20/27 | EUR | 1.500.000 | 0 | 0 | % | 90,566 | 1.358.496,90 | 0,16 |
| FR0014003067 | 0,0000 % Région Île de France MTN 21/28 | EUR | 1.200.000 | 0 | 1.700.000 | % | 92,265 | 1.107.180,00 | 0,13 |
| FR0010773192 | 4,5000 % Rep. Frankreich OAT 09/41 | EUR | 4.400.000 | 4.400.000 | 0 | % | 139,203 | 6.124.918,36 | 0,72 |
| FR0011619436 | 2,2500 % Rep. Frankreich OAT 13/24 | EUR | 17.000.000 | 0 | 0 | % | 103,551 | 17.603.670,00 | 2,07 |
| FR0011461037 | 3,2500 % Rep. Frankreich OAT 13/45 | EUR | 2.000.000 | 0 | 0 | % | 122,411 | 2.448.229,80 | 0,29 |
| FR0012517027 | 0,5000 % Rep. Frankreich OAT 15/25 | EUR | 22.000.000 | 0 | 6.000.000 | % | 99,421 | 21.872.510,00 | 2,57 |
| FR0013250560 | 1,0000 % Rep. Frankreich OAT 16/27  6) | EUR | 5.000.000 | 0 | 18.000.000 | % | 99,989 | 4.999.450,00 | 0,59 |
| FR0013154044 | 1,2500 % Rep. Frankreich OAT 16/36 | EUR | 6.000.000 | 0 | 4.000.000 | % | 92,993 | 5.579.595,00 | 0,66 |
| FR0013341682 | 0,7500 % Rep. Frankreich OAT 17/28 | EUR | 4.000.000 | 0 | 15.000.000 | % | 97,486 | 3.899.440,00 | 0,46 |
| FR0013407236 | 0,5000 % Rep. Frankreich OAT 18/29 | EUR | 5.000.000 | 0 | 3.000.000 | % | 95,272 | 4.763.600,50 | 0,56 |
| FR0013515806 | 0,5000 % Rep. Frankreich OAT 20/40 | EUR | 4.000.000 | 1.000.000 | 2.000.000 | % | 77,955 | 3.118.208,00 | 0,37 |
| FR0014002JM6 | 0,5000 % Rep. Frankreich OAT 20/44 | EUR | 10.000.000 | 0 | 0 | % | 73,292 | 7.329.229,00 | 0,86 |
| XS1810775145 | 1,7500 % Republik Indonesien Notes 18/25 | EUR | 1.250.000 | 0 | 0 | % | 98,631 | 1.232.890,38 | 0,15 |
| IE00BDHDPQ37 | 0,0000 % Republik Irland Treasury Bonds 17/22 | EUR | 5.000.000 | 0 | 0 | % | 100,155 | 5.007.750,00 | 0,59 |
| IE00BKFVC899 | 0,2000 % Republik Irland Treasury Bonds 20/30 | EUR | 10.500.000 | 2.000.000 | 0 | % | 90,501 | 9.502.584,00 | 1,12 |
| IT0004356843 | 4,7500 % Republik Italien B.T.P. 08/23 | EUR | 6.000.000 | 0 | 0 | % | 105,031 | 6.301.849,80 | 0,74 |
| IT0005045270 | 2,5000 % Republik Italien B.T.P. 14/24 | EUR | 10.000.000 | 0 | 0 | % | 102,674 | 10.267.400,00 | 1,21 |
| IT0005024234 | 3,5000 % Republik Italien B.T.P. 14/30 | EUR | 5.000.000 | 3.000.000 | 0 | % | 106,481 | 5.324.025,00 | 0,63 |
| IT0005090318 | 1,5000 % Republik Italien B.T.P. 15/25 | EUR | 10.000.000 | 0 | 0 | % | 99,737 | 9.973.675,00 | 1,17 |
| IT0005215246 | 0,6500 % Republik Italien B.T.P. 16/23 | EUR | 6.000.000 | 0 | 0 | % | 100,064 | 6.003.810,00 | 0,71 |
| IT0005210650 | 1,2500 % Republik Italien B.T.P. 16/26 | EUR | 16.000.000 | 0 | 6.000.000 | % | 96,866 | 15.498.480,00 | 1,82 |
| IT0005240350 | 2,4500 % Republik Italien B.T.P. 17/33 | EUR | 7.000.000 | 0 | 0 | % | 94,670 | 6.626.882,50 | 0,78 |

Die Fußnotenerklärungen befinden sich am Ende der Tabelle.

#### Vermögensaufstellung zum 31.05.2022
| ISIN | Gattungsbezeichnung | Markt | Stück bzw. Anteile bzw. Währung | Bestand 31.05.2022 | Käufe/	Verkäufe/ Zugänge	Abgänge im Berichtszeitraum | Kurs | Kurswert in EUR | % des Fondsver- mögens |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| IT0005340929 | 2,8000 % Republik Italien B.T.P. 18/28 | EUR | 4.000.000 | 5.000.000 | 10.000.000 | % | 102,423 | 4.096.919,60 | 0,48 |
| IT0005358806 | 3,3500 % Republik Italien B.T.P. 18/35 | EUR | 5.000.000 | 0 | 0 | % | 102,540 | 5.127.016,50 | 0,60 |
| IT0005366007 | 1,0000 % Republik Italien B.T.P. 19/22 | EUR | 7.000.000 | 0 | 13.000.000 | % | 100,179 | 7.012.547,50 | 0,83 |
| IT0005365165 | 3,0000 % Republik Italien B.T.P. 19/29 | EUR | 10.000.000 | 0 | 0 | % | 102,979 | 10.297.913,00 | 1,21 |
| IT0005377152 | 3,1000 % Republik Italien B.T.P. 19/40 | EUR | 5.000.000 | 0 | 0 | % | 97,827 | 4.891.325,00 | 0,58 |
| IT0005398406 | 2,4500 % Republik Italien B.T.P. 19/50 | EUR | 8.500.000 | 0 | 2.000.000 | % | 83,477 | 7.095.559,45 | 0,83 |
| IT0005405318 | 0,6000 % Republik Italien B.T.P. 20/23 | EUR | 5.000.000 | 0 | 0 | % | 100,304 | 5.015.180,50 | 0,59 |
| IT0005413171 | 1,6500 % Republik Italien B.T.P. 20/30 | EUR | 6.000.000 | 0 | 0 | % | 91,326 | 5.479.560,00 | 0,64 |
| IT0005402117 | 1,4500 % Republik Italien B.T.P. 20/36 | EUR | 5.000.000 | 0 | 7.000.000 | % | 81,391 | 4.069.537,50 | 0,48 |
| IT0005438004 | 1,5000 % Republik Italien B.T.P. 20/45 | EUR | 3.850.000 | 0 | 0 | % | 71,977 | 2.771.124,13 | 0,33 |
| IT0005449969 | 0,9500 % Republik Italien B.T.P. 21/31 | EUR | 10.000.000 | 3.000.000 | 0 | % | 83,604 | 8.360.350,00 | 0,98 |
| IT0005441883 | 2,1500 % Republik Italien B.T.P. 21/72 | EUR | 1.950.000 | 0 | 0 | % | 70,541 | 1.375.539,75 | 0,16 |
| IT0005496770 IT0005329344 | 3,2500 % Republik Italien B.T.P. 22/38 0,1000 % Republik Italien Infla- | EUR | 6.900.000 | 6.900.000 | 0 | % | 100,478 | 6.932.964,75 | 0,82 |
| IT0005410912 | tion-Ind. Lkd B.T.P. 18/23 1,4000 % Republik Italien Infla- | EUR | 5.000.000 | 0 | 0 | % | 104,052 | 5.829.939,03 | 0,69 |
|  | tion-Ind. Lkd B.T.P. 20/25 | EUR | 8.475.000 | 0 | 0 | % | 105,279 | 8.936.828,31 | 1,05 |
| XS2226969686 | 0,0000 % Republik Korea Bonds 20/25 | EUR | 450.000 | 0 | 0 | % | 95,854 | 431.343,00 | 0,05 |
| XS2361416915 | 0,0000 % Republik Lettland MTN 21/29 | EUR | 1.650.000 | 0 | 0 | % | 88,105 | 1.453.731,35 | 0,17 |
| AT0000A2WSC8 | 0,9000 % Republik Oesterreich MTN 22/32 | EUR | 6.700.000 | 6.700.000 | 0 | % | 93,721 | 6.279.315,04 | 0,74 |
| AT0000A269M8 | 0,5000 % Republik Österreich MTN 19/29 | EUR | 4.000.000 | 4.000.000 | 0 | % | 95,067 | 3.802.695,60 | 0,45 |
| XS2447602793 | 2,7500 % Republik Polen MTN 22/32 | EUR | 3.700.000 | 3.700.000 | 0 | % | 100,350 | 3.712.938,90 | 0,44 |
| PTOTETOE0012 | 2,8750 % Republik Portugal Obr. 16/26 | EUR | 3.000.000 | 0 | 0 | % | 106,993 | 3.209.790,00 | 0,38 |
| PTOTEUOE0019 | 4,1250 % Republik Portugal Obr. 17/27 | EUR | 2.000.000 | 0 | 0 | % | 113,134 | 2.262.680,00 | 0,27 |
| PTOTEXOE0024 | 1,9500 % Republik Portugal Obr. 19/29 | EUR | 2.000.000 | 2.000.000 | 2.000.000 | % | 101,953 | 2.039.060,00 | 0,24 |
| PTOTEMOE0035 | 0,7000 % Republik Portugal Obr. 20/27 | EUR | 2.000.000 | 0 | 0 | % | 96,352 | 1.927.040,00 | 0,23 |
| PTOTENOE0034 XS2262211076 | 0,9000 % Republik Portugal Obr. 20/35 1,3750 % Republik Ruma- | EUR | 2.500.000 | 2.500.000 | 0 | % | 83,818 | 2.095.449,75 | 0,25 |
|  | enien MTN 20/29 Reg.S | EUR | 1.450.000 | 0 | 0 | % | 80,066 | 1.160.951,06 | 0,14 |
| XS1129788524 | 2,8750 % Republik Rumänien MTN 14/24 | EUR | 1.500.000 | 0 | 500.000 | % | 101,415 | 1.521.232,35 | 0,18 |
| XS2178857285 | 2,7500 % Republik Rumänien MTN 20/26 Reg.S | EUR | 2.850.000 | 0 | 0 | % | 98,431 | 2.805.290,06 | 0,33 |
| XS2178857954 | 3,6240 % Republik Rumänien MTN 20/30 Reg.S | EUR | 1.400.000 | 0 | 0 | % | 91,588 | 1.282.232,28 | 0,15 |
| XS2063268754 | 1,2500 % Royal Mail PLC Notes 19/26 | EUR | 850.000 | 0 | 0 | % | 96,194 | 817.648,58 | 0,10 |
| XS2333391303 | 0,0000 % Royal Schiphol Group N.V. MTN 21/25 | EUR | 1.900.000 | 0 | 0 | % | 95,169 | 1.808.203,02 | 0,21 |
| XS2466426215 XS2078735276 | 1,1250 % Santander UK PLC MT Cov. Bds 22/27 0,5000 % Shell International Fi- | EUR | 3.900.000 | 3.900.000 | 0 | % | 98,315 | 3.834.283,44 | 0,45 |
| XS1948598997 | nance BV MTN 19/31 0,3750 % Skandinaviska Enskilda | EUR | 1.650.000 | 0 | 0 | % | 84,943 | 1.401.563,63 | 0,16 |
|  | Banken MT Cov. Bds 19/26 | EUR | 2.250.000 | 0 | 0 | % | 96,627 | 2.174.100,98 | 0,26 |
| SK4000017158 | 0,2500 % Slowakei Anl. 20/25 | EUR | 4.050.000 | 0 | 0 | % | 97,881 | 3.964.199,94 | 0,47 |
| XS1615680151 FR0013311503 | 1,1250 % SNCF Réseau S.A. MTN 17/27 1,1250 % Société Générale S.A. | EUR | 2.500.000 | 0 | 0 | % | 99,277 | 2.481.925,00 | 0,29 |
|  | Non-Preferred MTN 18/25 | EUR | 2.600.000 | 0 | 0 | % | 98,458 | 2.559.900,46 | 0,30 |
| XS2163333656 XS1947550403 | 1,0000 % Sodexo S.A. Notes 20/29 0,5000 % Sparebank. Sør Boligkre- | EUR | 2.100.000 | 0 | 1.000.000 | % | 90,959 | 1.910.129,55 | 0,22 |
| XS2183818637 | ditt AS Mrtg.Cov. MTN 19/26 2,5000 % Standard Charte- | EUR | 1.350.000 | 0 | 0 | % | 96,937 | 1.308.650,58 | 0,15 |
|  | red PLC FLR MTN 20/30 | EUR | 950.000 | 0 | 0 | % | 97,359 | 924.910,60 | 0,11 |
| XS2314246526 | 1,5000 % Stedin Holding N.V. FLR Notes 21/Und. | EUR | 1.600.000 | 0 | 0 | % | 91,214 | 1.459.430,40 | 0,17 |
| XS2407985220 | 0,0000 % Stedin Holding N.V. MTN 21/26 | EUR | 1.300.000 | 0 | 0 | % | 91,639 | 1.191.310,12 | 0,14 |
| XS2356040357 | 0,7500 % Stellantis N.V. MTN 21/29 | EUR | 2.200.000 | 0 | 0 | % | 85,951 | 1.890.923,98 | 0,22 |
| FR0013445335 | 1,6250 % Suez S.A. FLR Notes 19/Und. | EUR | 1.200.000 | 0 | 0 | % | 91,227 | 1.094.723,28 | 0,13 |
| XS1617859464 | 1,0000 % Swedbank AB FLR MTN 17/27 | EUR | 1.200.000 | 0 | 0 | % | 99,903 | 1.198.833,96 | 0,14 |
| XS1756296965 | 1,4470 % Telefonica Emisiones S.A.U. MTN 18/27 | EUR | 1.100.000 | 0 | 0 | % | 98,174 | 1.079.912,13 | 0,13 |
| XS2233154538 XS2338355105 | 0,1250 % The Coca-Cola Co. Notes 20/29 0,0100 % The Goldman Sachs | EUR | 2.500.000 | 0 | 1.000.000 | % | 87,394 | 2.184.841,75 | 0,26 |
| XS2292954893 | Group Inc. FLR MTN 21/24 0,2500 % The Goldman Sachs | EUR | 2.800.000 | 0 | 0 | % | 99,041 | 2.773.135,40 | 0,33 |
|  | Group Inc. MTN 21/28 | EUR | 1.900.000 | 0 | 1.000.000 | % | 88,021 | 1.672.407,93 | 0,20 |
| XS1195202822 | 2,6250 % TotalEnergies SE FLR MTN 15/Und. | EUR | 2.000.000 | 0 | 0 | % | 98,134 | 1.962.671,80 | 0,23 |
| XS2290960520 | 1,6250 % TotalEnergies SE FLR MTN 21/Und. | EUR | 1.800.000 | 0 | 0 | % | 88,121 | 1.586.180,70 | 0,19 |
| CH0576402181 | 0,2500 % UBS Group AG FLR MTN 20/28 | EUR | 1.600.000 | 0 | 1.000.000 | % | 88,501 | 1.416.008,00 | 0,17 |
| XS1887498282 FR0013330529 | 1,2500 % Ungarn Bonds 18/25 2,1250 % Unibail-Rodamco-West- | EUR | 5.000.000 | 0 | 0 | % | 97,918 | 4.895.905,00 | 0,58 |
|  | field SE FLR Bonds 18/Und. | EUR | 2.000.000 | 0 | 0 | % | 95,858 | 1.917.153,00 | 0,23 |

Die Fußnotenerklärungen befinden sich am Ende der Tabelle.

#### Vermögensaufstellung zum 31.05.2022
| ISIN | Gattungsbezeichnung | Markt | Stück bzw. Anteile bzw. Währung | Bestand 31.05.2022 | Käufe/	Verkäufe/ Zugänge	Abgänge im Berichtszeitraum | Kurs | Kurswert in EUR | % des Fondsver- mögens |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| XS1953271225 XS2017471553 | 4,8750 % UniCredit S.p.A. FLR MTN 19/29 1,2500 % UniCredit S.p.A. FLR | EUR | 2.000.000 | 0 | 0 | % | 101,726 | 2.034.516,40 | 0,24 |
|  | Preferred MTN 19/25 | EUR | 900.000 | 0 | 0 | % | 98,300 | 884.698,20 | 0,10 |
| XS2063547041 FR0124665995 | 0,5000 % UniCredit S.p.A. Preferred MTN 19/25 0,1250 % Union Natle Interp. | EUR | 1.400.000 | 0 | 0 | % | 95,262 | 1.333.671,50 | 0,16 |
| FR0013518487 | Em.Com.Ind. MTN 17/24 0,2500 % Union Natle Interp. | EUR | 3.000.000 | 0 | 0 | % | 98,094 | 2.942.826,60 | 0,35 |
|  | Em.Com.Ind. MTN 20/29 | EUR | 3.300.000 | 0 | 0 | % | 90,922 | 3.000.426,99 | 0,35 |
| XS2257961818 | 0,1250 % UPM Kymmene Corp. MTN 20/28 | EUR | 1.500.000 | 0 | 1.000.000 | % | 86,937 | 1.304.055,75 | 0,15 |
| XS2320453884 | 0,5000 % UPM Kymmene Corp. MTN 21/31 | EUR | 1.000.000 | 0 | 1.750.000 | % | 81,756 | 817.564,70 | 0,10 |
| FR0014004UE6 FR00140007K5 | 1,0000 % Valéo S.E. MTN 21/28 2,2500 % Veolia Environnement | EUR | 1.600.000 | 0 | 0 | % | 82,139 | 1.314.224,32 | 0,15 |
|  | S.A. FLR Notes 20/Und. | EUR | 1.000.000 | 0 | 0 | % | 94,735 | 947.350,00 | 0,11 |
| DE000A2R8ND3 | 0,6250 % Vonovia Finance B.V. MTN 19/27 | EUR | 2.000.000 | 0 | 0 | % | 88,898 | 1.777.967,60 | 0,21 |
| DE000A287179 | 1,0000 % Vonovia Finance B.V. MTN 21/41 | EUR | 600.000 | 0 | 1.600.000 | % | 62,762 | 376.572,00 | 0,04 |
| DE000A3MP4T1 | 0,0000 % Vonovia SE MTN 21/25 | EUR | 600.000 | 0 | 0 | % | 91,936 | 551.615,94 | 0,06 |
| FR0013521564 | 0,8750 % Worldline S.A. Obl. 20/27 | EUR | 1.200.000 | 0 | 0 | % | 92,817 | 1.113.799,08 | 0,13 |
| USD-Anleihen |  |  |  |  |  |  |  | 17.713.723,26 | 2,09 |
| US465410CA47 | 1,2500 % Republik Italien Notes 20/26 | USD | 10.600.000 | 0 | 0 | % | 90,888 | 8.972.806,71 | 1,06 |
| XS0997000251 | 6,0000 % Republik Kroatien Notes 13/24 Reg.S | USD | 4.000.000 | 0 | 0 | % | 103,955 | 3.872.790,91 | 0,46 |
| XS1085735899 | 5,1250 % Republik Portugal MTN 14/24 Reg.S | USD | 5.000.000 | 0 | 0 | % | 104,538 | 4.868.125,64 | 0,57 |
| An organisierten Märkten zugelassene oder in diese einbezogene Wertpapiere | 56.297.753,79 | 6,64 |
| Verzinsliche Wertpapiere | 56.297.753,79 | 6,64 |
| EUR-Anleihen |  |  |  |  |  |  |  | 51.176.932,80 | 6,03 |
| XS2082818951 | 1,1250 % Australia & N. Z. Bkg |  |  |  |  |  |  |  |  |
|  | Grp Ltd. FLR MTN 19/29 | EUR | 1.250.000 | 0 | 0 | % | 96,187 | 1.202.337,50 | 0,14 |
| XS2321466133 XS2337061670 | 1,1250 % Barclays PLC FLR MTN 21/31 0,5000 % CCEP Finance (Ire- | EUR | 1.400.000 | 0 | 0 | % | 90,960 | 1.273.440,00 | 0,15 |
| XS1907122656 | land) DAC Notes 21/29 1,5000 % Coca-Cola Europaci- | EUR | 1.150.000 | 0 | 0 | % | 87,212 | 1.002.941,45 | 0,12 |
| XS2193734733 | fic Pa. PLC Notes 18/27 1,6250 % Dell Bank Internati- | EUR | 1.350.000 | 0 | 0 | % | 96,168 | 1.298.270,97 | 0,15 |
|  | onal DAC Notes 20/24 | EUR | 1.200.000 | 0 | 0 | % | 99,964 | 1.199.567,16 | 0,14 |
| FR0013431244 | 1,6250 % Engie S.A. FLR Notes 19/Und. | EUR | 2.200.000 | 0 | 0 | % | 93,527 | 2.057.601,92 | 0,24 |
| XS2304340263 XS1721244371 | 0,2500 % Equinix Inc. Notes 21/27 1,8750 % Iberdrola Internatio- | EUR | 1.450.000 | 0 | 0 | % | 90,166 | 1.307.400,77 | 0,15 |
| XS1890845875 | nal B.V. FLR Notes 17/Und. 3,2500 % Iberdrola Internatio- | EUR | 2.100.000 | 0 | 0 | % | 100,367 | 2.107.714,98 | 0,25 |
|  | nal B.V. FLR Securit. 19/Und. | EUR | 1.100.000 | 0 | 0 | % | 100,372 | 1.104.087,38 | 0,13 |
| XS2135361686 | 1,3500 % Mexiko MTN 20/27 | EUR | 3.750.000 | 0 | 0 | % | 92,569 | 3.471.330,75 | 0,41 |
| XS2104886341 | 1,1250 % Mexiko MTN 20/30 | EUR | 1.000.000 | 0 | 0 | % | 83,864 | 838.640,00 | 0,10 |
| XS2363910436 XS2312722916 | 2,2500 % Mexiko Notes 21/36 0,2500 % Mondelez Internati- | EUR | 3.000.000 | 0 | 0 | % | 78,163 | 2.344.894,50 | 0,28 |
|  | onal Inc. Notes 21/28 | EUR | 2.600.000 | 0 | 0 | % | 89,545 | 2.328.164,02 | 0,27 |
| XS1315181708 | 2,7500 % Peru Bonds 15/26 | EUR | 4.000.000 | 0 | 0 | % | 101,633 | 4.065.333,20 | 0,48 |
| XS2104985598 | 0,7000 % Philippinen Bonds 20/29 | EUR | 1.000.000 | 0 | 0 | % | 87,245 | 872.445,70 | 0,10 |
| XS1807430811 | 0,6250 % Provinz Ontario MTN 18/25 | EUR | 3.000.000 | 0 | 0 | % | 98,400 | 2.951.988,60 | 0,35 |
| XS2153608141 | 0,3750 % Provinz Ontario MTN 20/27 | EUR | 2.000.000 | 0 | 0 | % | 95,090 | 1.901.795,00 | 0,22 |
| XS2262263622 | 0,0100 % Provinz Ontario MTN 20/30 | EUR | 4.450.000 | 0 | 0 | % | 85,805 | 3.818.320,72 | 0,45 |
| XS2435787283 | 0,5000 % Provinz Quebec MTN 22/32 | EUR | 5.000.000 | 5.000.000 | 0 | % | 87,581 | 4.379.059,00 | 0,52 |
| XS1151586945 | 1,6250 % Republik Chile Bonds 14/25 | EUR | 1.000.000 | 0 | 0 | % | 99,818 | 998.183,90 | 0,12 |
| XS2369244327 | 1,3000 % Republik Chile Notes 21/36 | EUR | 3.000.000 | 0 | 0 | % | 79,119 | 2.373.562,20 | 0,28 |
| FI4000523238 XS2342206591 | 1,5000 % Republik Finnland Bonds 22/32 0,7660 % Westpac Banking | EUR | 6.850.000 | 6.850.000 | 0 | % | 98,962 | 6.778.867,55 | 0,80 |
|  | Corp. FLR MTN 21/31 | EUR | 1.650.000 | 0 | 0 | % | 90,969 | 1.500.985,53 | 0,18 |
| USD-Anleihen |  |  |  |  |  |  |  | 5.120.820,99 | 0,61 |
| US05584KAH14 | 1,6520 % BPCE S.A. FLR Non-Pref. MTN 20/26 | USD | 1.000.000 | 0 | 3.500.000 | % | 91,569 | 852.838,78 | 0,10 |
| US91087BAM28 | 2,6590 % Mexiko Notes 20/31 | USD | 1.000.000 | 0 | 0 | % | 87,076 | 810.992,92 | 0,10 |
| US715638DP43 XS1917910884 | 1,8620 % Peru Bonds 20/32 7,8300 % UniCredit S.p.A. Non- | USD | 2.000.000 | 0 | 0 | % | 80,356 | 1.496.802,27 | 0,18 |
|  | Pref. MTN 18/23 Reg.S | USD | 2.000.000 | 0 | 0 | % | 105,233 | 1.960.187,02 | 0,23 |
| Wertpapier-Investmentanteile | 8,32 | 0,00 |
| KVG - eigene Wertpapier-Investmentanteile | 8,32 | 0,00 |
| Luxemburg | 8,32 | 0,00 |
| Die Fußnotenerklärungen befinden sich am Ende der Tabelle. |  |  |

Vermögensaufstellung zum 31.05.2022
| ISIN | Gattungsbezeichnung | Markt	Stück bzw. | Bestand | Käufe/	Verkäufe/ | Kurs | Kurswert | % des |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  |  | Anteile bzw. Währung | 31.05.2022 | Zugänge	Abgänge im Berichtszeitraum |  | in EUR | Fondsver- mögens |
| LU1297616101 | Allianz GIF-Allianz Green Bond |  |  |  |  |  |  |
|  | Inhaber-Anteile W | ANT | 0,009 | 0	0 EUR | 924,600 | 8,32 | 0,00 |
| Summe Wertpapiervermögen  3) | EUR | 826.299.364,57 | 97,22 |
| Derivate |  |  |  |

Zins-Derivate
(Bei den mit Minus gekennzeichneten Beständen handelt es sich um verkaufte Positionen) Forderungen/ Verbindlichkeiten
| Zinsterminkontrakte |  |  |  |  | 1.224.888,58 | 0,14 |
| --- | --- | --- | --- | --- | --- | --- |
| 3M Eurodollar (ED) IRF Dez. 22	XIMM | USD | 705.000.000 |  |  | -1.728.881,44 | -0,20 |
| EURO Bobl Future (FGBM) Juni 22	XEUR | EUR | -47.000.000 |  |  | 1.124.680,00 | 0,13 |
| EURO Bund Future (FGBL) Juni 22	XEUR | EUR | 40.500.000 |  |  | -3.567.450,00 | -0,42 |
| EURO-BTP Future (FBTP) Juni 22	XEUR Five-Year US Treasury Note | EUR | -36.000.000 |  |  | 5.817.160,00 | 0,68 |
| Future (FV) Sep. 22	XCBT Long Term EURO OAT Fu- | USD | 44.200.000 |  |  | -161.859,98 | -0,02 |
| ture (FOAT) Juni 22	XEUR | EUR | 13.900.000 |  |  | -258.760,00 | -0,03 |
| Optionsrechte Optionsrechte auf Zinsterminkontrakte |  |  |  |  | -19.755,00 | 0,00 |
| EURO Bund Future (FGBL) |  |  |  |  |  |  |
| Put Juli 22 143	XEUR EURO Bund Future (FGBL) | EUR Anzahl | -525 | EUR | -0,135 | 70.875,00 | 0,01 |
| Put Juli 22 144	XEUR EURO Bund Future (FGBL) | EUR Anzahl | -525 | EUR | -0,160 | 84.000,00 | 0,01 |
| Put Juli 22 146	XEUR EURO Bund Future (FGBL) | EUR Anzahl | -525 | EUR | -0,120 | 63.000,00 | 0,01 |
| Put Juli 22 150	XEUR Opt. 1Y Mid-Cur 3M Euri- | EUR Anzahl | 525 | EUR | -0,135 | -70.880,00 | -0,01 |
| bor IRF Put Sep. 22 97,25	IFEU Opt. 1Y Mid-Cur 3M Euri- | EUR Anzahl | -920 | EUR | -0,008 | 74.750,00 | 0,01 |
| bor IRF Put Sep. 22 97,75	IFEU Opt. 1Y Mid-Cur 3M Euribor | EUR Anzahl | -920 | EUR | 0,003 | -25.875,00 | 0,00 |
| IRF Put Sep. 22 98,125	IFEU | EUR Anzahl | 920 | EUR | -0,023 | -215.625,00 | -0,03 |
| Summe Zins-Derivate |  |  | EUR |  | 1.205.133,58 | 0,14 |
| Devisen-Derivate Forderungen/ Verbindlichkeiten |  |  |  |  |  |  |
| Optionsrechte |  |  |  |  |  |  |  |
| Optionsrechte auf Devisenterminkontrakte |  |  |  |  |  | -5.136,44 | 0,00 |
| Cross Rate EUR/USD 2PM Fut. |  |  |  |  |  |  |  |
| (EUU) Put Juni 22 0,97 Cross Rate EUR/USD 2PM | XCME | USD Anzahl | -106.250.000 | USD | 0,000 | -4.947,84 | 0,00 |
| Fut.(EUU) Put Juni 22 1 Cross Rate EUR/USD 2PM Fut. | XCME | USD Anzahl | -21.250.000 | USD | 0,000 | -989,57 | 0,00 |
| (EUU) Put Juni 22 1,035 Cross Rate JPY/USD 2PM | XCME | USD Anzahl | 42.500.000 | USD | 0,000 | 1.979,14 | 0,00 |
| Fut. (JPU) Call Juni 22 80 Cross Rate JPY/USD 2PM | XCME | USD Anzahl | 275.000 | USD | 0,000 | 115,26 | 0,00 |
| Fut. (JPU) Call Juni 22 83 Cross Rate JPY/USD 2PM Fut. | XCME | USD Anzahl | -27.500.000 | USD | 0,000 | -1.280,62 | 0,00 |
| (JPU)Call Juni 22 82,5 | XCME | USD Anzahl | -275.000 | USD | 0,000 | -12,81 | 0,00 |
| Devisenterminkontrakte (Verkauf) |  |  |  |  |  | 370.378,49 | 0,04 |
| Offene Positionen |  |  |  |  |  |  |  |
| USD/EUR 24.000.000,00 | OTC |  |  |  |  | 370.378,49 | 0,04 |
| Summe Devisen-Derivate |  |  |  | EUR |  | 365.242,05 | 0,04 |
| Swaptions |  |  |  |  |  |  |  |
| Optionsrechte auf Credit Default Swaps |  |  |  |  |  | 47.271,78 | 0,00 |
| Payer Swap |  |  |  |  |  | 47.271,78 | 0,00 |
| SWP Long Pay ITRAXX SER37 |  |  |  |  |  |  |  |
| V1 BOFASECEUR 20.07.22 / |  |  |  |  |  |  |  |
| BOFASECEUR / 20.07.2022 SWP Short Pay ITRAXX SER37 | OTC | EUR | 90.000.000 |  |  | 109.711,62 | 0,01 |
| V1 BOFASECEUR 20.07.22 / |  |  |  |  |  |  |  |
| BOFASECEUR / 20.07.2022 | OTC | EUR | -180.000.000 |  |  | -62.439,84 | -0,01 |

Summe Swaptions	EUR	47.271,78	0,00
Kreditderivate
Die Fußnotenerklärungen befinden sich am Ende der Tabelle.

#### Vermögensaufstellung zum 31.05.2022
| ISIN | Gattungsbezeichnung | Markt | Stück bzw. Anteile bzw. | Bestand 31.05.2022 | Käufe/	Verkäufe/ Zugänge	Abgänge | Kurs | Kurswert in EUR | % des Fondsver- |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  | Währung |  | im Berichtszeitraum |  | mögens |
| Credit Default Swaps (CDS) CCP |  |  |  |  | -1.060.800,00 | -0,12 |
| Protection Buyer |  |  |  |  | -1.060.800,00 | -0,12 |
| CDS ITRAXX EUROPE S36 V1 5Y / |  |  |  |  |  |  |
| JPMORGAN_FRA / 20.12.2026 CDS ITRAXX EUROPE S37 V1 5Y / | IFEU | EUR | 60.000.000 |  | -610.800,00 | -0,07 |
| JPMORGAN_FRA / 20.06.2027 | IFEU | EUR | 60.000.000 |  | -450.000,00 | -0,05 |
| Inflation Swaps (IFS) |  |  |  |  | 3.508.089,51 | 0,42 |
| Protection Seller |  |  |  |  | 3.508.089,51 | 0,42 |
| IFS Euro HICP Ex Tob. EUR/ 1,5775% |  |  |  |  |  |  |
| EUR / CITIGLMD_FRA / 15.07.2031 IFS Euro HICP Ex Tob. EUR/2,424% | OTC | EUR | 14.000.000 |  | 2.177.816,52 | 0,26 |
| EUR / GOLDMANS_FRA / 15.02.2027 | OTC | EUR | 22.000.000 |  | 1.330.272,99 | 0,16 |
| Summe Kreditderivate |  |  | EUR |  | 2.447.289,51 | 0,30 |
| Bankguthaben, Geldmarktpapiere, Geldmarkt- und geldmarktnahe Fonds |  |  |  |  |  |  |
| Bankguthaben |  |  |  |  |  |  |
| EUR-Guthaben bei der Verwahrstelle |  |  |  |  |  |  |
| State Street Bank International GmbH | EUR | 15.467.708,66 | % | 100,000 | 15.467.708,66 | 1,82 |
| Guthaben in sonstigen EU/EWR-Währungen |
| State Street Bank International GmbH | DKK | 383.952,79 | % | 100,000 | 51.611,07 | 0,01 |
| State Street Bank International GmbH | NOK | 153.175,42 | % | 100,000 | 15.098,61 | 0,00 |
| State Street Bank International GmbH | PLN | 95.330,00 | % | 100,000 | 20.805,33 | 0,00 |
| State Street Bank International GmbH | SEK | 52.471,05 | % | 100,000 | 4.978,16 | 0,00 |
| Guthaben in Nicht-EU/EWR-Währungen |
| State Street Bank International GmbH | AUD | 93.021,64 | % | 100,000 | 62.236,40 | 0,01 |
| State Street Bank International GmbH | CAD | 10.501,18 | % | 100,000 | 7.714,65 | 0,00 |
| State Street Bank International GmbH | CHF | 7.512,03 | % | 100,000 | 7.279,80 | 0,00 |
| State Street Bank International GmbH | GBP | 251.657,80 | % | 100,000 | 295.477,05 | 0,03 |
| State Street Bank International GmbH | JPY | 1.986.989,00 | % | 100,000 | 14.487,80 | 0,00 |
| State Street Bank International GmbH | MXN | 2.010.205,89 | % | 100,000 | 95.521,45 | 0,01 |
| State Street Bank International GmbH | USD | 6.833.689,02 | % | 100,000 | 6.364.616,76 | 0,75 |
| State Street Bank International GmbH | ZAR | 248.268,40 | % | 100,000 | 14.842,46 | 0,00 |

| Summe Bankguthaben  7) 12) |  | EUR | 22.422.378,20 | 2,63 |
| --- | --- | --- | --- | --- |
| Summe der Bankguthaben, Geldmarktpapiere, Geldmarkt- und geldmarktnahe Fonds  30) |  | EUR | 22.422.378,20 | 2,63 |
| Sonstige Vermögensgegenstände |  |  |  |  |
| Zinsansprüche	EUR | 4.051.716,07 |  | 4.051.716,07 | 0,48 |
| Forderungen aus Anteilscheingeschäften	EUR | 116.029,33 |  | 116.029,33 | 0,01 |
| Forderungen aus Cash Collateral	EUR | 1.491.486,00 |  | 1.491.486,00 | 0,18 |
| Forderungen aus Initial Margin CCP	EUR | 1.689.968,00 |  | 1.689.968,00 | 0,20 |
| Forderungen aus Variation Margin CCP	EUR | 1.060.799,99 |  | 1.060.799,99 | 0,12 |
| Summe Sonstige Vermögensgegenstände |  | EUR | 8.409.999,39 | 0,99 |
| Sonstige Verbindlichkeiten |  |  |  |  |
| Verbindlichkeiten aus Anteilscheingeschäften	EUR | -391.895,13 |  | -391.895,13 | -0,05 |
| Verbindlichkeiten aus Wertpapiergeschäften	EUR | -6.830.751,50 |  | -6.830.751,50 | -0,80 |
| Kostenabgrenzung	EUR | -504.855,26 |  | -504.855,26 | -0,06 |
| Verbindlichkeiten aus Cash Collateral	EUR | -3.470.000,00 |  | -3.470.000,00 | -0,41 |
| Summe Sonstige Verbindlichkeiten |  | EUR | -11.197.501,89 | -1,32 |
| Fondsvermögen |  | EUR | 849.999.177,19 | 100,00 |
| Summe der umlaufenden Anteile aller Anteilklassen |  | STK | 10.393.730 |  |

3) 
Die Wertpapiere des Sondervermögens sind teilweise durch Geschäfte mit Finanzinstrumenten abgesichert.
6) 
Diese Wertpapiere sind ganz oder teilweise als Sicherheit für sonstige Derivate an einen Dritten übertragen worden.
7) 
Diese Bankguthaben sind ganz oder teilweise als Sicherheiten für sonstige Derivate an einen Dritten übertragen worden.
12) 
Diese Bankguthaben sind ganz oder teilweise als Sicherheiten für zentral geclearte Derivate an einen Dritten übertragen worden.
30) 
Im Bankguthaben können Cash Initial Margin enthalten sein.
| Gattungsbezeichnung |  |  | gesamt |
| --- | --- | --- | --- |
| Gesamtbetrag der bei sonstigen Derivaten von Dritten gewährten Sicherheiten (Collateral Manage- ment): | EUR |  | 3.765.240,76 |
| davon: |  |  |  |
| Bankguthaben | EUR | 3.470.000,00 |  |
| Schuldverschreibungen | EUR | 295.240,76 |  |
| Gesamtbetrag der Nennwerte der Bankguthaben, die Dritten als Sicherheiten für sonstige Derivate dienen (Collateral Management): | EUR |  | 1.491.486,00 |
| Gesamtbetrag der Kurswerte der Wertpapiere, die Dritten als Sicherheiten für sonstige Derivate dienen (Collateral Management): | EUR |  | 380.958,09 |
| Gesamtbetrag der Nennwerte der Bankguthaben, die Dritten als Sicherheiten für zentral geclearte Derivate dienen: | EUR |  | 2.750.767,99 |
| Gesamtbetrag der Kurswerte der Wertpapiere, die Dritten als Marginsicherheiten für Termingeschäfte dienen: | EUR |  | 17.270.490,00 |


#### Allianz Rentenfonds A (EUR)

##### ISIN	DE0008471400

##### Fondsvermögen	785.728.641,76

##### Umlaufende Anteile	9.931.570,637

##### Anteilwert	79,11
Allianz Rentenfonds IT2 (EUR)
| ISIN | DE000A2AMPP5 |
| --- | --- |
| Fondsvermögen | 1.618.542,00 |
| Umlaufende Anteile | 1.702,718 |
| Anteilwert | 950,56 |
| Allianz Rentenfonds P (EUR) |  |
| ISIN | DE0009797415 |
| Fondsvermögen | 23.459.840,00 |
| Umlaufende Anteile | 21.262,999 |
| Anteilwert | 1.103,32 |
| Allianz Rentenfonds P2 (EUR) |  |
| ISIN | DE0009797654 |
| Fondsvermögen | 39.168.341,47 |
| Umlaufende Anteile | 438.937,501 |
| Anteilwert | 89,23 |
| Allianz Rentenfonds R (EUR) |  |
| ISIN | DE000A2DU1G9 |
| Fondsvermögen | 23.811,96 |
| Umlaufende Anteile | 256,373 |
| Anteilwert | 92,88 |


### Wertpapierkurse bzw. Marktsätze

##### Die Vermögensgegenstände des Sondervermögens sind auf der Grundlage nachstehender Kurse/Marktsätze bewertet:

##### Internationale Obligationen: Kurse per 30.05.2022 oder letztbekannte

##### Alle anderen Vermögenswerte: Kurse bzw. Marktsätze per 31.05.2022 oder letztbekannte

### Ergänzende Anmerkung zur Bewertung

##### Die Bewertung erfolgt durch die Kapitalverwaltungsgesellschaft (KVG).

##### Aktien, Bezugsrechte, Börsennotierte Fonds (ETFs), Genussscheine, Rentenpapiere und börsengehandelte Derivate werden, sofern vorhanden, grundsätz- lich mit handelbaren Börsenkursen bewertet.
Rentenpapiere, für die keine handelbaren Börsenkurse vorliegen, werden mit validierten Kursstellungen von Brokern oder unter Einbeziehung der relevan- ten Marktinformationen im Rahmen von regelmäßig überprüften Modellen bewertet.

##### Genussscheine, für die keine handelbaren Börsenkurse vorliegen, werden mit dem Mittelwert von Bid- und Ask-Kurs bewertet.

##### Nicht börsengehandelte Derivate und Bezugsrechte werden unter Einbeziehung der relevanten Marktinformationen im Rahmen von regelmäßig über- prüften Modellen bewertet.

##### Investmentfondsanteile werden mit dem von der Investmentgesellschaft veröffentlichten Rücknahmepreis bewertet.

##### Bankguthaben und Sonstige Vermögensgegenstände werden zum Nennwert, Festgelder zum Verkehrswert und Verbindlichkeiten zum Rückzahlungsbe- trag bewertet.
Nicht notierte Aktien und Beteiligungen werden zu dem aktuellen Verkehrswert bewertet, der bei sorgfältiger Einschätzung nach geeigneten Bewertungs- modellen unter Berücksichtigung der aktuellen Marktgegebenheiten angemessen ist.
Die angewandten Verfahren zur Bewertung des Sondervermögens decken die aus der Covid-Pandemie und aus dem Russland-Ukraine-Krieg herrühren- den Marktauswirkungen ab. Darüber hinausgehende Anpassungen waren zum Zeitpunkt der Aufstellung des Halbjahresberichts nicht erforderlich.
Die in diesem Halbjahresbericht ausgewiesenen Anlagen werden i.H.v. 97,70% des Fondsvermögens mit handelbaren Börsenkursen oder Marktpreisen und 0,00% zu abgeleiteten Verkehrswerten bzw. validierten Kursstellungen von Brokern bewertet. Die verbleibenden 2,30% des Fondsvermögens bestehen aus Sonstigen Vermögensgegenständen, Sonstigen Verbindlichkeiten sowie Barvermögen.

#### Devisenkurs(e) bzw. Konversionsfaktor(en) (in Mengennotiz) per 31.05.2022
| Großbritannien, Pfund | (GBP) | 1 Euro = GBP | 0,85170 |
| --- | --- | --- | --- |
| Dänemark, Kronen | (DKK) | 1 Euro = DKK | 7,43935 |
| Norwegen, Kronen | (NOK) | 1 Euro = NOK | 10,14500 |
| Schweden, Kronen | (SEK) | 1 Euro = SEK | 10,54025 |
| Schweiz, Franken | (CHF) | 1 Euro = CHF | 1,03190 |
| Polen, Zloty | (PLN) | 1 Euro = PLN | 4,58200 |
| Südafrika, Rand | (ZAR) | 1 Euro = ZAR | 16,72690 |
| USA, Dollar | (USD) | 1 Euro = USD | 1,07370 |
| Kanada, Dollar | (CAD) | 1 Euro = CAD | 1,36120 |
| Mexiko, Peso | (MXN) | 1 Euro = MXN | 21,04455 |
| Japan, Yen | (JPY) | 1 Euro = JPY | 137,14910 |
| Australien, Dollar | (AUD) | 1 Euro = AUD | 1,49465 |
| Marktschlüssel |  |  |  |
| Terminbörsen |  |  |  |
| IFEU | = | London - ICE Futures Europe |
| XCBT | = | Chicago - Chicago Board of Trade (CBOT) |
| XCME | = | Chicago - Chicago Mercantile Exchange (CME) |
| XEUR | = | Eurex (Eurex Frankfurt/Eurex Zürich) |


##### XIMM	=

##### Chicago - Chicago Mercantile Exchange (CME) - Interna- tional Money Market (IMM)

##### OTC

##### OTC	=	Over-the-Counter

### Kapitalmaßnahmen

##### Alle Umsätze, die aus Kapitalmaßnahmen hervorgehen (technische Umsätze), werden als Zu- oder Abgang ausgewiesen.

#### Während des Berichtszeitraumes abgeschlossene Geschäfte, soweit sie nicht mehr in der Vermögensaufstellung erscheinen

##### - Käufe und Verkäufe in Wertpapieren, Investmentanteilen und Schuldscheindarlehen (Marktzuordnung zum Berichtsstichtag):
| ISIN | Gattungsbezeichnung | Stück bzw. | Käufe/ | Verkäufe/ |
| --- | --- | --- | --- | --- |
|  |  | Anteile bzw. Währung | Zugänge | Abgänge |

Börsengehandelte Wertpapiere Verzinsliche Wertpapiere
EUR-Anleihen
| ES0200002063 | 0,5500 % Adif - Alta Velocidad MTN 21/31 | EUR | 0 | 1.500.000 |
| --- | --- | --- | --- | --- |
| BE6317598850 | 3,8750 % AGEAS SA/NV FLR Notes 19/Und. | EUR | 0 | 2.000.000 |
| FR0013483526 | 0,0000 % Agence Française Développement MTN 20/25 | EUR | 0 | 1.500.000 |
| FR0014002GB5 | 0,3750 % Agence Française Développement MTN 21/36 | EUR | 0 | 4.400.000 |
| XS2080767010 | 1,8750 % AIB Group PLC FLR MTN 19/29 | EUR | 0 | 3.000.000 |
| XS2230399441 | 2,8750 % AIB Group PLC FLR MTN 20/31 | EUR | 0 | 3.000.000 |
| FR0014001EW8 | 0,0000 % Alstom S.A. Notes 21/29 | EUR | 0 | 2.100.000 |
| XS1115800655 | 5,0000 % ASR Nederland N.V. FLR Securities 14/Und. | EUR | 0 | 1.785.000 |
| ES0312298021 | 3,7500 % AYT Cedulas Ca.Gl.-FTA-S.III AB Notes 05/22 | EUR | 0 | 2.000.000 |
| IT0005321663 | 1,0000 % Banco BPM S.p.A. MT Mortg. Cov. Bds 18/25 | EUR | 0 | 2.000.000 |
| PTBCPIOM0057 | 0,7500 % Banco Com. Português SA (BCP) Obr. Hipotec. 17/22 | EUR | 0 | 2.900.000 |
| XS2076079594 | 0,6250 % Banco de Sabadell S.A. FLR Preferred MTN 19/25 | EUR | 0 | 900.000 |
| XS2228245838 | 1,1250 % Banco de Sabadell S.A. FLR Preferred MTN 20/27 | EUR | 0 | 900.000 |
| XS2247936342 | 1,6250 % Banco Santander S.A. MTN 20/30 | EUR | 0 | 2.000.000 |
| XS1508377584 | 0,8750 % BNG Bank N.V. MTN 16/36 | EUR | 0 | 2.000.000 |
| FR0013431277 | 1,6250 % BNP Paribas S.A. MTN 19/31 | EUR | 0 | 1.400.000 |
| FR0013515749 | 1,2500 % Bque Fédérative du Cr. Mutuel Non-Pref. MTN 20/30 | EUR | 0 | 900.000 |
| DE0001102408 | 0,0000 % Bundesrep.Deutschland Anl. 16/26 | EUR | 0 | 5.000.000 |
| DE0001102465 | 0,2500 % Bundesrep.Deutschland Anl. 19/29 | EUR | 0 | 14.000.000 |
| DE0001102499 | 0,0000 % Bundesrep.Deutschland Anl. 20/30 | EUR | 4.000.000 | 26.000.000 |
| DE0001030732 | 0,0000 % Bundesrep.Deutschland Anl. Gruene 21/31 | EUR | 0 | 1.000.000 |
| DE0001141786 | 0,0000 % Bundesrep.Deutschland Bundesobl. S.178 18/23 | EUR | 0 | 20.000.000 |
| FR0013460607 | 1,1250 % Bureau Veritas SA Notes 19/27 | EUR | 0 | 1.200.000 |
| PTCMGTOM0029 | 0,8750 % Caixa Económica Montepio Geral MT Obr. Hip. 17/22 | EUR | 0 | 2.100.000 |
| XS2025468542 | 0,0400 % Canadian Imperial Bk of Comm. MT Cov. Bonds 19/27 | EUR | 0 | 2.900.000 |
| IT0005399586 | 1,0000 % Cassa Depositi e Prestiti SpA MTN 20/30 | EUR | 0 | 1.200.000 |
| XS2102934697 | 1,0000 % Cellnex Telecom S.A. MTN 20/27 | EUR | 0 | 900.000 |
| XS1859010685 | 1,5000 % Citigroup Inc. FLR MTN 18/26 | EUR | 0 | 500.000 |
| DE000CZ40NS9 | 1,0000 % Commerzbank AG MTN IHS S.923 19/26 | EUR | 0 | 1.800.000 |
| FR0013312154 | 2,6250 % Crédit Agricole Assurances SA FLR Notes 18/48 | EUR | 0 | 700.000 |
| IT0005366288 | 1,0000 % Credit Agricole Italia S.p.A. MT Mtg.Cov.Bds 19/27 | EUR | 0 | 1.000.000 |
| FR0013516184 | 1,6250 % Crédit Agricole S.A. FLR MTN 20/30 | EUR | 0 | 1.700.000 |
| XS2035564975 | 1,1250 % EnBW Energie Baden-Württem. AG FLR Anl. 19/79 | EUR | 0 | 1.200.000 |
| XS2242931603 | 3,3750 % ENI S.p.A. FLR Notes 20/Und. | EUR | 0 | 1.400.000 |
| EU000A1G0DL7 | 1,7000 % Europ.Fin.Stab.Facility (EFSF) MTN 17/43 | EUR | 0 | 2.000.000 |
| EU000A1G0EL5 | 0,0000 % Europ.Fin.Stab.Facility (EFSF) MTN 21/31 | EUR | 0 | 2.000.000 |
| EU000A285VM2 | 0,0000 % Europaeische Union MTN 20/35 | EUR | 0 | 2.500.000 |
| EU000A3KSXE1 | 0,0000 % Europaeische Union MTN 21/31 | EUR | 0 | 4.122.000 |
| EU000A3KM903 | 0,2000 % Europaeische Union MTN 21/36 | EUR | 0 | 1.200.000 |
| EU000A3K4C42 | 0,4000 % Europaeische Union MTN 21/37 | EUR | 0 | 850.000 |
| EU000A3KT6B1 | 0,4500 % Europaeische Union MTN 21/41 | EUR | 0 | 1.200.000 |
| XS2231792586 | 0,5000 % FCA Bank S.p.A. (Irish Branch) MTN 20/23 | EUR | 0 | 1.500.000 |
| ES0378641346 | 0,0500 % Fdo de Tit.D.Def.Sist.Elec.FTA MT Bonos 19/24 | EUR | 0 | 1.200.000 |
| DE000A2G8W40 | 1,2000 % Freie Hansestadt Bremen Landessch. Ausg.215 19/34 | EUR | 0 | 1.000.000 |
| FR0013205069 | 1,0000 % Gecina S.A. MTN 16/29 | EUR | 0 | 1.000.000 |
| FR0013231768 | 1,5000 % IMERYS S.A. MTN 17/27 | EUR | 0 | 800.000 |
| XS2300175655 | 0,5970 % JPMorgan Chase & Co. FLR MTN 21/33 | EUR | 0 | 1.600.000 |
| ES0000012I32 | 0,5000 % Koenigreich Spanien Bonos 21/31 | EUR | 0 | 7.000.000 |
| ES00000127A2 | 1,9500 % Koenigreich Spanien Obligaciones 15/30 | EUR | 0 | 2.000.000 |
| BE0000320292 | 4,2500 % Königreich Belgien Obl. Lin. S.60 10/41 | EUR | 0 | 3.000.000 |
| BE0000346552 | 1,2500 % Königreich Belgien Obl. Lin. S.86 18/33 | EUR | 0 | 5.000.000 |
| ES0000012E51 | 1,4500 % Königreich Spanien Bonos 19/29 | EUR | 0 | 1.000.000 |
| ES0000012A89 | 1,4500 % Königreich Spanien Obligaciones 17/27 | EUR | 0 | 4.000.000 |
| ES00000128Q6 | 2,3500 % Königreich Spanien Obligaciones 17/33 | EUR | 2.500.000 | 4.000.000 |
| ES0000012F76 | 0,5000 % Königreich Spanien Obligaciones 20/30 | EUR | 0 | 2.700.000 |
| DE000A2GSNR0 | 0,6250 % Kreditanst.f.Wiederaufbau Anl. 18/28 | EUR | 0 | 1.000.000 |
| FR0013399169 | 0,5000 % La Banq. Postale Home Loan SFH MT Obl.FinHab 19/26 | EUR | 0 | 1.900.000 |
| FR0014001R34 | 0,7500 % La Banque Postale FLR MTN 21/32 | EUR | 0 | 1.900.000 |

| ISIN | Gattungsbezeichnung | Stück bzw. Anteile bzw. Währung | Käufe/ Zugänge | Verkäufe/ Abgänge |
| --- | --- | --- | --- | --- |
| FR0014001IP3 | 0,6250 % La Poste MTN 21/36 | EUR | 0 | 1.800.000 |
| DE000A289QR9 | 0,7500 % Mercedes-Benz Group AG MTN 20/30 | EUR | 0 | 1.300.000 |
| XS1511787589 | 1,3750 % Morgan Stanley MTN S.G 16/26 | EUR | 0 | 1.650.000 |
| XS1499594916 | 0,7500 % Nederlandse Waterschapsbank NV MTN 16/41 | EUR | 0 | 2.000.000 |
| XS2010036874 | 1,7500 % Orsted A/S FLR Notes 19/Und. | EUR | 0 | 2.000.000 |
| XS2296204444 | 0,5000 % Prologis Euro Finance LLC Notes 21/32 | EUR | 0 | 1.200.000 |
| FR0011486067 | 1,7500 % Rep. Frankreich OAT 13/23 | EUR | 0 | 15.000.000 |
| FR0012993103 | 1,5000 % Rep. Frankreich OAT 15/31 | EUR | 0 | 4.000.000 |
| FR0013257524 | 2,0000 % Rep. Frankreich OAT 17/48 | EUR | 0 | 1.000.000 |
| FR0013404969 | 1,5000 % Rep. Frankreich OAT 18/50 | EUR | 0 | 8.000.000 |
| FR0013480613 | 0,7500 % Rep. Frankreich OAT 20/52 | EUR | 0 | 5.500.000 |
| IT0004532559 | 5,0000 % Republik Italien B.T.P. 09/40 | EUR | 0 | 2.500.000 |
| IT0005086886 | 1,3500 % Republik Italien B.T.P. 15/22 | EUR | 10.000.000 | 24.000.000 |
| IT0005217390 | 2,8000 % Republik Italien B.T.P. 16/67 | EUR | 0 | 1.000.000 |
| IT0005321325 | 2,9500 % Republik Italien B.T.P. 18/38 | EUR | 0 | 8.000.000 |
| XS2114767457 | 0,0000 % Republik Polen MTN 20/25 | EUR | 0 | 1.500.000 |
| XS2364199757 | 1,7500 % Republik Rumaenien MTN 21/30 Reg.S | EUR | 0 | 3.100.000 |
| FR0013067196 | 3,0000 % SCOR SE FLR Notes 15/46 | EUR | 0 | 1.600.000 |
| FR0013535101 | 1,3750 % SCOR SE FLR Notes 20/51 | EUR | 0 | 1.300.000 |
| FR00140058G6 | 0,3000 % Société du Grand Paris MTN 21/36 | EUR | 0 | 2.700.000 |
| FR0014000OZ2 | 1,0000 % Société Générale S.A. FLR MTN 20/30 | EUR | 0 | 2.200.000 |
| XS1946788194 | 0,5000 % Swedbank Hypotek AB MT Cov. Bds 19/26 | EUR | 0 | 1.950.000 |
| XS2195096420 | 1,3750 % Symrise AG Anl. 20/27 | EUR | 0 | 950.000 |
| XS2348325221 | 0,1250 % TenneT Holding B.V. MTN 21/27 | EUR | 0 | 2.100.000 |
| XS1696445516 | 1,7500 % Ungarn Bonds 17/27 | EUR | 0 | 1.350.000 |
| XS2259191273 | 0,5000 % Ungarn Bonds 20/30 | EUR | 0 | 2.350.000 |
| XS2386583145 | 0,1250 % Ungarn Bonds 21/28 Reg.S | EUR | 0 | 1.400.000 |
| XS1754213947 | 1,0000 % UniCredit S.p.A. Non-Preferred MTN 18/23 | EUR | 0 | 1.300.000 |
| FR0013369758 | 0,8750 % Union Natle Interp.Em.Com.Ind. MTN 18/28 | EUR | 0 | 1.000.000 |
| FR0013410008 | 0,5000 % Union Natle Interp.Em.Com.Ind. MTN 19/29 | EUR | 0 | 1.200.000 |
| FR0013524410 | 0,2500 % Union Natle Interp.Em.Com.Ind. MTN 20/35 | EUR | 0 | 1.600.000 |

An organisierten Märkten zugelassene oder in diese einbezogene Wertpapiere Verzinsliche Wertpapiere
EUR-Anleihen
| XS2131567138 | 4,3750 % ABN AMRO Bank N.V. FLR Cap. Notes 20/Und. | EUR | 0 | 600.000 |
| --- | --- | --- | --- | --- |
| FR0013457058 | 0,5000 % Action Logement Services SAS MTN 19/34 | EUR | 0 | 3.000.000 |
| XS2332245377 | 3,1000 % Cooeperatieve Rabobank U.A. FLR Cap.Sec. 21/Und. | EUR | 0 | 1.800.000 |
| XS2331271242 | 0,6250 % Deutsche Bahn Finance GmbH MTN 21/36 | EUR | 0 | 4.900.000 |
| XS2114143758 | 0,0500 % Santander Consumer Bank AG Pfe. MTN 20/30 | EUR | 0 | 3.000.000 |
| USD-Anleihen |  |  |  |  |
| US37045XCX21 | 2,7500 % General Motors Financial Co. Notes 20/25 | USD | 0 | 2.000.000 |
| XS1935310166 | 6,5720 % UniCredit S.p.A. Non-Pref. MTN 19/22 Reg.S | USD | 0 | 900.000 |
| Geldmarktpapiere |  |  |  |  |
| EUR |  |  |  |  |
| ES0L02209093 | 0,0000 % Koenigreich Spanien Zero Letras d.Tesoro 21/22 | EUR | 10.000.000 | 10.000.000 |
|  |  |  |  |  |
|  | Gattungsbezeichnung | Stück bzw. |  | Volumen |
|  |  | Anteile bzw. |  | in 1.000 |
|  |  | Währung |  |  |
| Derivate |  |  |  |  |

Terminkontrakte Zinsterminkontrakte
Optionsrechte
(In Opening-Transaktionen umgesetzte Optionsprämien bzw. Volumen der Optionsgeschäfte, bei Optionsscheinen Angabe der Käufe und Verkäufe.)
Gekaufte Kontrakte:	EUR	1.017.495
(Basiswert(e): 3M Euribor (FEI) IRF Dez. 22, EURO Bund Future (FGBL) Juni 22, EURO Bund Future (FGBL) März 22, Five- Year US Treasury Note Future (FV) Juni 22, Five-Year US Treasury Note Future (FV) März 22, Long Term EURO OAT Fu- ture (FOAT) Juni 22, Ten-Year US Treasury Note Future (TY) Juni 22, Ten-Year US Treasury Note Future (TY) März 22)
Verkaufte Kontrakte:	EUR	163.006
(Basiswert(e): EURO Bobl Future (FGBM) Juni 22, EURO-BTP Future (FBTP) Juni 22, EURO-BTP Future (FBTP) März 22, Long Term EURO OAT Future (FOAT) Juni 22, Long Term EURO OAT Future (FOAT) März 22, US Treasury Long Bond Future (US) Juni 22)
Optionsrechte auf Swaps (Swaptions)
Gekaufte Verkaufoptionen (Put):	EUR	172
(Basiswert(e): SWP Long Pay ITRAXX SER37V1 JPMORGAN_FRA 18.05.22)
Verkaufte Verkaufoptionen (Put):	EUR	80
(Basiswert(e): SWP Short Pay ITRAXX SER37V1 JPMORGAN_FRA 18.05.22)
Optionsrechte auf Zins-Derivate Optionsrechte auf Zinsterminkontrakte
Gekaufte Kaufoptionen (Call):	EUR	749.390
(Basiswert(e): EURO Bund Future (FGBL) Juni 22, Ten-Year US Treasury Note Future (TY) Juni 22, US Tre- asury Long Bond Future (US) Juni 22, US Treasury Long Bond Future (US) März 22)
Gekaufte Verkaufoptionen (Put):	EUR	13.395.302
(Basiswert(e): 3M Euribor (FEI) IRF Juni 24, 3M Euribor (FEI) IRF März 24, 3M Euribor (FEI) IRF Sep. 23, EURO Bund Future (FGBL) Juni 22, EURO Bund Future (FGBL) März 22, EURO Bund Future (FGBL) Sep. 22, Ten-Year US Treasury Note Future (TY) Juni 22, Ten-Year US Tre- asury Note Future (TY) März 22, US Treasury Long Bond Future (US) Juni 22, US Treasury Long Bond Future (US) März 22)
Verkaufte Kaufoptionen (Call):	EUR	702.301
(Basiswert(e): EURO Bund Future (FGBL) Juni 22, Ten-Year US Treasury Note Future (TY) Juni 22, US Tre- asury Long Bond Future (US) Juni 22, US Treasury Long Bond Future (US) März 22)
Verkaufte Verkaufoptionen (Put):	EUR	18.925.926
(Basiswert(e): 3M Euribor (FEI) IRF Juni 24, 3M Euribor (FEI) IRF März 24, 3M Euribor (FEI) IRF Sep. 23, EURO Bund Future (FGBL) Juni 22, EURO Bund Future (FGBL) März 22, Ten-Year US Treasury Note Future (TY) Juni 22, Ten-Year US Treasury Note Fu-
ture (TY) März 22, US Treasury Long Bond Future (US) Juni 22, US Treasury Long Bond Future (US) März 22)
Devisentermingeschäfte Devisenterminkontrakte (Verkauf) Verkauf von Devisen auf Termin:
USD/EUR	EUR	21.107
Devisenterminkontrakte (Kauf) Kauf von Devisen auf Termin:
USD/EUR	EUR	6.196
Währungsderivate
Optionsrechte auf Devisen-Derivate Optionsrechte auf Devisen Gekaufte Verkaufoptionen (Put):
EUR/JPY	EUR	25.400.000
Verkaufte Verkaufoptionen (Put):
EUR/JPY	EUR	24.500.000

#### Angaben zu Zielfonds
Ausgabeaufschläge und oder Rücknahmeabschläge wurden nicht erhoben und oder nicht gezahlt. Verwaltungsvergütung
Allianz GIF-Allianz Green Bond Inhaber-Anteile W	0,27% p.a.