# SciBeta HFE Pacific ex-Jap Equity 6F EW UCITS ETF
Investment manager’s report for the financial year ended 31 July 2021
The Sub-Fund’s investment objective is to seek medium to long term capital appreciation by providing Shareholders with a return equivalent to the performance of the Scientific Beta Developed Asia-Pacific ex-Japan HFI Multi-Beta Multi-Strategy Six-Factor Equal Weight Market Beta Adjusted (Leverage) Index Net Return denominated in EUR (the “Index”) before all fees and expenses charged to, or incurred by, the Sub-Fund.
The Scientific Beta Developed Asia-Pacific ex-Japan HFI Multi-Beta Multi-Strategy Six-Factor Equal Weight Market Beta Adjusted (Leverage) Index Net Return is an index designed to have allocation to a portfolio of equities and equity related securities that are listed or traded on any stock exchange that is located in the developed Asia Pacific region excluding Japan through equally-weighted allocations to 6 sub-indices. Each sub-index will reflect one of the six following investment styles: Value, Momentum, Low Volatility, Size, Profitability and Investment.
From Inception to 19 April 2018, the Sub-fund was exposed to Scientific Beta Developed Asia Pacific ex-Japan HFE Multi Beta Multi Strategy Equal Weight (Six Factor) Index and thereafter to Scientific Beta Developed Asia-Pacific ex-Japan HFI Multi-Beta Multi-Strategy Six-Factor Equal Weight Market Beta Adjusted (Leverage) Index.
From 7 December 2017 (its inception) to 19 April 2018 (change of the underlying Index), the performance of the Sub-Fund is -1.04%, compared to -0.86% for the Scientific Beta Developed Asia-Pacific ex-Japan HFE Multi Beta Multi Strategy Equal Weight (Six Factor) Index.
From 19 April 2018 (change of the underlying Index) to 31 July 2021, the performance of the Sub-Fund is 12.27%, compared to 14.67% for the Index.
From 31 July 2020 to 31 July 2021, the performance of the Sub-Fund is 27.94%, compared to 28.76% for the Index.
From 19 April 2018 (change of the underlying Index) to 31 July 2021, the Sub-Fund has an annualised volatility of 20.39% compared to 20.41% for the Index.
In terms of tracking error (annualised standard deviation of the difference in performance between the return of the Sub- Fund and its benchmark) the Sub-Fund has achieved a low tracking error at 0.04% versus the Index.
SciBeta HFE Pacific ex-Jap Equity 6F EW UCITS ETF Schedule of investments as at 31 July 2021
| Holdings | Financial assets at fair value through profit or loss | Fair value € |  | % of net assets |
| --- | --- | --- | --- | --- |
|  | Equities: 96.59% (2020: 95.10%) |  |  |  |
|  | Belgium: 0.24% (2020: 0.75%) |  |  |  |
|  | Basic materials: 0.24% (2020: 0.75%) |  |  |  |
| 2,540 | Tessenderlo | 90,551 |  | 0.24 |
|  | Total Belgium | 	90,551 |  | 	0.24 |
|  | Denmark: 30.10% (2020: 16.96%) |  |  |  |
|  | Consumer, non-cyclical: 4.01% (2020: 0.40%) |  |  |  |
| 17,005 | Schouw | 1,533,979 |  | 4.01 |
|  | Financial: 17.87% (2020: 16.56%) |  |  |  |
| 168,683 | Alm Brand | 1,032,951 |  | 2.70 |
| 40,159 | Jyske Bank | 1,644,497 |  | 4.30 |
| 136,448 | Spar Nord Bank | 1,383,116 |  | 3.61 |
| 65,541 | Sydbank | 1,692,624 |  | 4.42 |
| 25,305 | Topdanmark | 1,087,260 |  | 2.84 |
|  | Industrial: 8.22% (2020: 0.00%) |  |  |  |
| 71,589 | Dampskibsselskabet Norden | 1,723,701 |  | 4.51 |
| 45,410 | FLSmidth | 1,418,146 |  | 3.71 |
|  | Total Denmark | 	11,516,274 |  | 	30.10 |
|  | Germany: 11.98% (2020: 22.84%) |  |  |  |
|  | Basic materials: 0.00% (2020: 5.57%) | – |  | – |
|  | Consumer, cyclical: 6.48% (2020: 8.60%) |  |  |  |
| 39,148 | Fielmann | 2,478,068 |  | 6.48 |
|  | Consumer, non-cyclical: 5.50% (2020: 0.00%) |  |  |  |
| 165,936 | Suedzucker | 2,105,728 |  | 5.50 |
|  | Financial: 0.00% (2020: 4.47%) | – |  | – |
|  | Industrial: 0.00% (2020: 4.20%) | – |  | – |
|  | Total Germany | 	4,583,796 |  | 	11.98 |
|  | Netherlands: 3.78% (2020: 6.25%) |  |  |  |
|  | Consumer, cyclical: 3.78% (2020: 0.00%) |  |  |  |
| 34,679 | Accell | 1,447,849 |  | 3.78 |
|  | Technology: 0.00% (2020: 6.25%) | – |  | – |
|  | Total Netherlands | 	1,447,849 |  | 	3.78 |
|  | Norway: 18.87% (2020: 10.79%) |  |  |  |
|  | Communications: 4.11% (2020: 0.00%) |  |  |  |
| 97,779 | Atea | 1,571,727 |  | 4.11 |
|  | Consumer, non-cyclical: 0.00% (2020: 2.52%) | – |  | – |

SciBeta HFE Pacific ex-Jap Equity 6F EW UCITS ETF Schedule of investments as at 31 July 2021 (continued)
| Holdings | Financial assets at fair value through profit or loss | Fair value € |  | % of net assets |
| --- | --- | --- | --- | --- |
|  | Equities: 96.59% (2020: 95.10%) (continued) |  |  |  |
|  | Norway: 18.87% (2020: 10.79%) (continued) |  |  |  |
|  | Energy: 10.01% (2020: 0.00%) |  |  |  |
| 1,408,830 | Aker Carbon Capture | 2,626,335 |  | 6.87 |
| 748,949 | Aker Solutions | 1,201,737 |  | 3.14 |
|  | Financial: 0.00% (2020: 3.64%) |  |  |  |
| 22 | Olav Thon Eiendomsselskap | 402 |  | – |
|  | Industrial: 4.75% (2020: 4.63%) |  |  |  |
| 75,279 | Kongsberg Gruppen | 1,817,958 |  | 4.75 |
|  | Total Norway | 	7,218,159 |  | 	18.87 |
|  | Spain: 0.00% (2020: 3.97%) | – |  | – |
|  | Financial: 0.00% (2020: 3.97%) | – |  | – |
|  | Sweden: 18.13% (2020: 14.11%) |  |  |  |
|  | Basic materials: 7.16% (2020: 0.00%) |  |  |  |
| 635,495 | SSAB | 2,739,991 |  | 7.16 |
|  | Consumer, non-cyclical: 3.71% (2020: 10.25%) |  |  |  |
| 62,196 | Axfood Aktiebolag | 1,420,370 |  | 3.71 |
|  | Financial: 7.02% (2020: 0.74%) |  |  |  |
| 19,012 | Catena | 963,389 |  | 2.52 |
| 15,105 | Hufvudstaden | 233,028 |  | 0.61 |
| 145,674 | VNV Global | 1,486,332 |  | 3.89 |
|  | Industrial: 0.00% (2020: 3.12%) | – |  | – |
|  | Technology: 0.24% (2020: 0.00%) |  |  |  |
| 4,248 | Embracer | 92,723 |  | 0.24 |
|  | Total Sweden | 	6,935,833 |  | 	18.13 |
|  | Switzerland: 13.49% (2020: 19.43%) |  |  |  |
|  | Consumer, cyclical: 4.31% (2020: 3.51%) |  |  |  |
| 6,360 | ALSO | 1,648,158 |  | 4.31 |
|  | Consumer, non-cyclical: 0.77% (2020: 0.00%) |  |  |  |
| 3 | Chocoladefabriken Lindt & Spruengli | 293,107 |  | 0.77 |
|  | Diversified: 0.04% (2020: 0.00%) |  |  |  |
| 7 | Metall Zug | 14,330 |  | 0.04 |
|  | Financial: 0.00% (2020: 4.84%) |  |  |  |
| 1 | Vaudoise Assurances | 428 |  | – |
|  | Industrial: 4.51% (2020: 7.39%) |  |  |  |
| 19,290 | Zehnder | 1,726,728 |  | 4.51 |

SciBeta HFE Pacific ex-Jap Equity 6F EW UCITS ETF Schedule of investments as at 31 July 2021 (continued)
| Holdings | Financial assets at fair value through profit or loss |  | Fair value € |  | % of net assets |
| --- | --- | --- | --- | --- | --- |
|  | Equities: 96.59% (2020: 95.10%) (continued) |  |  |  |  |
|  | Switzerland: 13.49% (2020: 19.43%) (continued) |  |  |  |  |
|  | Utilities: 3.86% (2020: 3.69%) |  |  |  |  |
| 15,879 | BKW |  | 1,476,064 |  | 3.86 |
|  | Total Switzerland |  | 5,158,815 |  | 13.49 |
|  |  |  |  |  |  |
|  | Total equities |  | 36,951,277 |  | 96.59 |
|  | Financial derivative instruments: 0.00% (2020: 1.61%) |  |  |  |  |
|  | Total return swaps - unrealised gains: 0.00% (2020: 1.61%) |  |  |  |  |
|  | Total financial assets at fair value through profit or loss |  | 36,951,277 |  | 96.59 |
|  | Financial liabilities at fair value through profit or loss |  |  |  |  |
|  | Financial derivative instruments: (3.88%) (2020: (5.53%)) |  |  |  |  |
| Counterparty | Total return swaps - unrealised losses: (3.88%) (2020: (5.53%)) | Notional € | Unrealised loss € |  | % of net assets |
|  | Morgan Stanley Swap |  |  |  |  |
| Morgan Stanley | SciBeta HFE Pacific ex-Jap Equity 6F EW UCITS ETF Financing Leg |  |  |  |  |
|  | (36,951,277) | (768,049) |  | (2.01) |
| Morgan Stanley | SciBeta HFE Pacific ex-Jap Equity Index 6F EW UCITS ETF Reference Portfolio Leg |  |  |  |  |
|  | (38,267,584) | (717,102) |  | (1.87) |
|  | Total total return swaps - unrealised losses |  | (1,485,151) |  | (3.88) |
|  |  |  |  |  |  |
|  | Total financial derivative instruments |  | (1,485,151) |  | (3.88) |
|  |  |  |  |  |  |
|  | Total financial liabilities at fair value through profit or loss |  | (1,485,151) |  | (3.88) |
|  |  |  | Fair value € |  | % of net assets |
|  | Total value of investments |  |  |  |  |
|  | (Cost: € 36,552,497) |  | 35,466,126 |  | 92.71 |
|  | Due from broker |  | 2,825,100 |  | 7.38 |
|  | Other net liabilities |  | (35,597) |  | (0.09) |
|  | Net assets attributable to holders of redeemable participating shares | 	38,255,629 |  | 	100.00 |

| Analysis of portfolio | Fair value € |  | % of total assets |
| --- | --- | --- | --- |
| Transferable securities admitted to official stock exchange listing or dealt in/on another regulated market | 36,951,277 |  | 92.83 |
| Due from broker | 2,825,100 |  | 7.10 |
| Other assets | 29,251 |  | 0.07 |
| Total assets | 	39,805,628 |  | 	100.00 |

SciBeta HFE Pacific ex-Jap Equity 6F EW UCITS ETF
Schedule of significant portfolio movements for the financial year ended 31 July 2021
| Total purchases in the year |  | € 195,649,949 |
| --- | --- | --- |
| Material purchases | Nominal holdings | Cost € |
| Flow Traders | 272,386 | 8,624,710 |
| Embracer | 399,502 | 8,510,489 |
| Denbury | 252,478 | 5,729,190 |
| Suedzucker | 431,555 | 5,669,994 |
| NGM Biopharmaceuticals | 249,502 | 5,144,806 |
| PostNL | 1,550,950 | 5,139,512 |
| Ferrari | 30,888 | 5,007,608 |
| SSAB | 1,529,058 | 4,651,775 |
| Fielmann | 68,655 | 4,612,515 |
| Alm Brand | 441,753 | 4,179,976 |
| FLSmidth | 134,444 | 3,734,404 |
| RTL | 69,472 | 3,393,012 |
| Aker Carbon Capture | 1,606,709 | 3,384,037 |
| Deutsche Pfandbriefbank | 453,626 | 3,361,628 |
| VNV Global | 301,633 | 3,239,867 |
| Lundbeck | 98,851 | 3,226,331 |
| Kongsberg Gruppen | 170,092 | 3,223,806 |
| Autoneum | 21,663 | 3,188,707 |
| LeoVegas | 755,990 | 3,162,703 |
| Hufvudstaden | 345,611 | 3,125,840 |
| Accell | 73,377 | 3,120,486 |
| Zehnder | 41,091 | 3,104,337 |
| Loomis | 109,910 | 3,086,956 |
| Asana | 122,304 | 3,074,184 |
| Axfood Aktiebolag | 146,289 | 3,070,720 |
| Telos | 108,880 | 2,878,495 |
| Pershing Square Tontine | 131,368 | 2,843,222 |
| Schibsted | 88,265 | 2,784,554 |
| Nordic Semiconductor | 313,760 | 2,716,234 |
| Schouw | 30,788 | 2,691,649 |
| Dampskibsselskabet Norden | 197,097 | 2,616,589 |
| Cosan | 185,534 | 2,598,731 |
| Whiting Petroleum | 129,902 | 2,585,330 |
| Swissquote | 27,070 | 2,456,886 |
| Betsson | 415,890 | 2,247,506 |
| Nokia | 538,224 | 2,218,643 |
| ChemoMetec | 44,732 | 2,185,415 |
| Avanza Bank | 131,351 | 2,184,608 |
| XXL | 1,178,873 | 2,027,621 |
| HAL Trust | 17,149 | 2,024,317 |

The statement of material purchases reflect the aggregate purchases of a security exceeding one per cent of the total value of purchases for the financial year. If there were fewer than twenty positions exceeding one per cent, the top twenty positions

Translation (ENDE, 2021-07-31):
# SciBeta HFE Pacific ex-Jap Equity 6F EW UCITS ETF
Bericht des Anlageverwalters für das Geschäftsjahr zum 31. Juli 2021
Das Anlageziel des Fonds besteht in einem mittel- bis langfristigen Kapitalzuwachs durch eine Anlegerrendite, die der Performance des Scientific Beta Developed Asia-Pacific ex-Japan HFI Multi-Beta Multi-Strategy Six-Factor Equal Weight Market Beta Adjusted (Leverage) Index Net Return in EUR (der „Index“) vor allen Gebühren und Ausgaben entspricht, die dem Teilfonds entstehen.
Der Scientific Beta Developed Asia-Pacific ex-Japan HFI Multi-Beta Multi-Strategy Six-Factor Equal Weight Market Beta Adjusted (Leverage) Index Net Return ist ein Index, der eine Allokation in einem Portfolio von Aktien und aktienähnlichen Wertpapieren aufweisen soll, die an einer Börse der entwickelten Asien-Pazifik-Region, mit Ausnahme von Japan, notiert sind oder gehandelt werden. Dies erfolgt durch gleichgewichtete Allokationen in sechs Subindizes. Jeder Subindex entspricht einem der folgenden sechs Anlagestile: Value (Wert), Momentum (Dynamik), Low Volatility (geringe Volatilität), Size (Größe), Profitability (Rentabilität) und Investment (Anlage).
Von der Auflegung bis zum 19. April 2018 war der Teilfonds im Scientific Beta Developed Asia Pacific ex Japan HFE Multi Beta Multi Strategy Equal Weight (Six Factor) Index und danach im Scientific Beta Developed Asia-Pacific ex-Japan HFI Multi-Beta Multi-Strategy Six-Factor Equal Weight Market Beta Adjusted (Leverage) Index engagiert.
Vom 7. Dezember 2017 (Auflegung) bis zum 19. April 2018 (Änderung des zugrunde liegenden Index) betrug die Performance des Teilfonds -1,04 %, verglichen mit -0,86 % für den Scientific Beta Developed Asia-Pacific ex-Japan HFE Multi Beta Multi Strategy Equal Weight (Six Factor) Index.
Vom 19. April 2018 (Änderung des zugrunde liegenden Index) bis zum 31. Juli 2021 betrug die Performance des Teilfonds 12,27 %, verglichen mit 14,67 % für den Index.
Vom 31. Juli 2020 bis zum 31. Juli 2021 belief sich die Wertentwicklung des Teilfonds auf 27,94 %, verglichen mit 28,76 % für den Index.
Vom 19. April 2018 (Änderung des zugrunde liegenden Index) bis zum 31. Juli 2021 betrug die annualisierte Volatilität des Teilfonds 20,39 %, verglichen mit 20,41 % für den Index.
Bezüglich des Tracking Error (annualisierte Standardabweichung des Unterschieds in der Wertentwicklung zwischen der Teilfondsrendite und der Wertentwicklung der Benchmark) hat der Teilfonds gegenüber dem Index einen geringen Tracking Error von lediglich 0,04 % erzielt.
SciBeta HFE Pacific ex-Jap Equity 6F EW UCITS ETF Anlagenverzeichnis zum 31. Juli 2021
|  | Beizulegender |  | % des |
| --- | --- | --- | --- |
| Anlagen | Erfolgswirksam zum beizulegenden Zeitwert bewertete finanzielle | Zeitwert |  | Nettover- |
|  | Vermögenswerte | EUR |  | mögens |
|  | Aktien: 96,59 % (2020: 95,10 %) |  |  |  |
|  | Belgien: 0,24 % (2020: 0,75 %) |  |  |  |
|  | Grundstoffe: 0,24 % (2020: 0,75 %) |  |  |  |
| 2.540 | Tessenderlo | 90.551 |  | 0,24 |
|  | Belgien gesamt | 	90.551 |  | 	0,24 |
|  | Dänemark: 30,10 % (2020: 16,96 %) |  |  |  |
|  | Basiskonsumgüter: 4,01 % (2020: 0,40 %) |  |  |  |
| 17.005 | Schouw | 1.533.979 |  | 4,01 |
|  | Finanzen: 17,87 % (2020: 16,56 %) |  |  |  |
| 168.683 | Alm Brand | 1.032.951 |  | 2,70 |
| 40.159 | Jyske Bank | 1.644.497 |  | 4,30 |
| 136.448 | Spar Nord Bank | 1.383.116 |  | 3,61 |
| 65.541 | Sydbank | 1.692.624 |  | 4,42 |
| 25.305 | Topdanmark | 1.087.260 |  | 2,84 |
|  | Industrie: 8,22 % (2020: 0,00 %) |  |  |  |
| 71.589 | Dampskibsselskabet Norden | 1.723.701 |  | 4,51 |
| 45.410 | FLSmidth | 1.418.146 |  | 3,71 |
|  | Dänemark gesamt | 	11.516.274 |  | 	30,10 |
|  | Deutschland: 11,98 % (2020: 22,84 %) |  |  |  |
|  | Grundstoffe: 0,00 % (2020: 5,57 %) | – |  | – |
|  | Nicht-Basiskonsumgüter: 6,48 % (2020: 8,60 %) |  |  |  |
| 39.148 | Fielmann | 2.478.068 |  | 6,48 |
|  | Basiskonsumgüter: 5,50 % (2020: 0,00 %) |  |  |  |
| 165.936 | Südzucker | 2.105.728 |  | 5,50 |
|  | Finanzen: 0,00 % (2020: 4,47 %) | – |  | – |
|  | Industrie: 0,00 % (2020: 4,20 %) | – |  | – |
|  | Deutschland gesamt | 	4.583.796 |  | 	11,98 |
|  | Niederlande: 3,78 % (2020: 6,25 %) |  |  |  |
|  | Nicht-Basiskonsumgüter: 3,78 % (2020: 0,00 %) |  |  |  |
| 34.679 | Accell | 1.447.849 |  | 3,78 |
|  | Technologie: 0,00 % (2020: 6,25 %) | – |  | – |
|  | Niederlande gesamt | 	1.447.849 |  | 	3,78 |
|  | Norwegen: 18,87 % (2020: 10,79 %) |  |  |  |
|  | Kommunikation: 4,11 % (2020: 0,00 %) |  |  |  |
| 97.779 | Atea | 1.571.727 |  | 4,11 |
|  | Basiskonsumgüter: 0,00 % (2020: 2,52 %) | – |  | – |

SciBeta HFE Pacific ex-Jap Equity 6F EW UCITS ETF Anlagenverzeichnis zum 31. Juli 2021 (Fortsetzung)
|  |  | Beizulegender |  | % des |
| --- | --- | --- | --- | --- |
| Positionen | Erfolgswirksam zum beizulegenden Zeitwert bewertete finanzielle | Zeitwert |  | Nettover- |
|  | Vermögenswerte | EUR |  | mögens |
|  | Aktien: 96,59 % (2020: 95,10 %) (Fortsetzung) |  |  |  |
|  | Norwegen: 18,87 % (2020: 10,79 %) (Fortsetzung) |  |  |  |
|  | Energie: 10,01 % (2020: 0,00 %) |  |  |  |
| 1.408.830 | Aker Carbon Capture | 2.626.335 |  | 6,87 |
| 748.949 | Aker Solutions | 1.201.737 |  | 3,14 |
|  | Finanzen: 0,00 % (2020: 3,64 %) |  |  |  |
| 22 | Olav Thon Eiendomsselskap | 402 |  | – |
|  | Industrie: 4,75 % (2020: 4,63 %) |  |  |  |
| 75.279 | Kongsberg Gruppen | 1.817.958 |  | 4,75 |
|  | Norwegen gesamt | 	7.218.159 |  | 	18,87 |
|  | Spanien: 0,00 % (2020: 3,97 %) | – |  | – |
|  | Finanzen: 0,00 % (2020: 3,97 %) | – |  | – |
|  | Schweden: 18,13 % (2020: 14,11 %) |  |  |  |
|  | Grundstoffe: 7,16 % (2020: 0,00 %) |  |  |  |
| 635.495 | SSAB | 2.739.991 |  | 7,16 |
|  | Basiskonsumgüter: 3,71 % (2020: 10,25 %) |  |  |  |
| 62.196 | Axfood Aktiebolag | 1.420.370 |  | 3,71 |
|  | Finanzen: 7,02 % (2020: 0,74 %) |  |  |  |
| 19.012 | Catena | 963.389 |  | 2,52 |
| 15.105 | Hufvudstaden | 233.028 |  | 0,61 |
| 145.674 | VNV Global | 1.486.332 |  | 3,89 |
|  | Industrie: 0,00 % (2020: 3,12 %) | – |  | – |
|  | Technologie: 0,24 % (2020: 0,00 %) |  |  |  |
| 4.248 | Embracer | 92.723 |  | 0,24 |
|  | Schweden gesamt | 	6.935.833 |  | 	18,13 |
|  | Schweiz: 13,49 % (2020: 19,43 %) |  |  |  |
|  | Nicht-Basiskonsumgüter: 4,31 % (2020: 3,51 %) |  |  |  |
| 6.360 | ALSO | 1.648.158 |  | 4,31 |
|  | Basiskonsumgüter: 0,77 % (2020: 0,00 %) |  |  |  |
| 3 | Chocoladefabriken Lindt & Spruengli | 293.107 |  | 0,77 |
|  | Diversifiziert: 0,04 % (2020: 0,00 %) |  |  |  |
| 7 | Metall Zug | 14.330 |  | 0,04 |
|  | Finanzen: 0,00 % (2020: 4,84 %) |  |  |  |
| 1 | Vaudoise Versicherungen | 428 |  | – |
|  | Industrie: 4,51 % (2020: 7,39 %) |  |  |  |
| 19.290 | Zehnder | 1.726.728 |  | 4,51 |

SciBeta HFE Pacific ex-Jap Equity 6F EW UCITS ETF Anlagenverzeichnis zum 31. Juli 2021 (Fortsetzung)
Positionen Erfolgswirksam zum beizulegenden Zeitwert bewertete finanzielle
Vermögenswerte
Aktien: 96,59 % (2020: 95,10 %) (Fortsetzung)
Schweiz: 13,49 % (2020: 19,43 %) (Fortsetzung)
Versorger: 3,86 % (2020: 3,69 %)
Beizulegender
Zeitwert
EUR
% des Nettover- mögens
15.879 BKW	1.476.064	3,86
Schweiz gesamt		5.158.815	13,49
Summe Aktien	 	36.951.277 	96,59
Derivative Finanzinstrumente: 0,00 % (2020: 1,61 %)
Total Return Swaps - nicht realisierte Gewinne: 0,00 % (2020: 1,61 %)
Erfolgswirksam zum beizulegenden Zeitwert bewertete finanzielle
Vermögenswerte gesamt		36.951.277	96,59
Erfolgswirksam zum beizulegenden Zeitwert bewertete finanzielle
Verbindlichkeiten
Derivative Finanzinstrumente: (3,88 %) (2020: (5,53 %))
Kontrahent Total Return Swaps - nicht realisierte Verluste: (3,88 %) (2020: (5,53 %))
Morgan Stanley Swap
Morgan Stanley SciBeta HFE Pacific ex-Jap Equity 6F EW UCITS ETF
Nennwert
EUR
Nicht realisierter Verlust EUR
% des Nettover- mögens
Financing Leg	(36.951.277)    (768.049)    (2,01)
Morgan Stanley SciBeta HFE Pacific ex-Jap Equity Index 6F EW UCITS ETF
Reference Portfolio Leg	(38.267.584) (717.102) (1,87) Summe Total Return Swaps - nicht realisierte Verluste		 (1.485.151) (3,88) Summe derivative Finanzinstrumente		  (1.485.151)   (3,88)
Erfolgswirksam zum beizulegenden Zeitwert bewertete finanzielle
Verbindlichkeiten gesamt	  (1.485.151)   (3,88)
Gesamtwert der Anlagen
Beizulegender
Zeitwert
EUR
% des Nettover- mögens
(Kosten: 36.552.497 EUR)	35.466.126	92,71
Forderungen an Broker	2.825.100	7,38
Sonstige Nettoverbindlichkeiten	(35.597)	(0,09)
Den Inhabern rückzahlbarer, gewinnberechtigter Anteile
zuzurechnendes Nettovermögen		38.255.629	100,00
Portfolioanalyse
Übertragbare Wertpapiere, die an einer Wertpapierbörse amtlich notiert
Beizulegender
Zeitwert
EUR
% des Gesamtver- mögens
sind oder an einem anderen geregelten Markt gehandelt werden	36.951.277	92,83 Forderungen an Broker		2.825.100		7,10
Sonstige Vermögenswerte		29.251	0,07
Vermögenswerte gesamt
174
	39.805.628	100,00