# Asset Allocation
Security Holdings (excl. Derivatives)
Contribution to Duration (incl. Derivatives)
Contribution to Duration Times Spread (incl. Derivatives)
|  | Fund | Index | Relative | Fund | Index | Relative | Fund | Index | Relative |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Treasury | 62.65 | 52.84 | 9.80 | 4.6 | 4.5 | 0.1 | 13 | 71 | -58 |
| Index Linked | 2.18 | 0.00 | 2.18 | 0.2 | 0.0 | 0.2 | 12 | 0 | 12 |
| Investment Grade - Sovs Supras & Agencies | 0.82 | 21.02 | -20.20 | 0.2 | 0.8 | -0.6 | 15 | 54 | -39 |
| Investment Grade - Financials | 6.15 | 8.96 | -2.82 | 0.4 | 0.5 | -0.1 | 52 | 61 | -9 |
| Investment Grade - Non-Financials | 14.91 | 11.92 | 2.98 | 1.3 | 1.0 | 0.3 | 263 | 149 | 114 |
| Investment Grade - ABS | 0.00 | 0.06 | -0.06 | 0.0 | 0.0 | 0.0 | 0 | 1 | -1 |
| Investment Grade - Emerging Markets | 1.11 | 4.63 | -3.52 | 0.1 | 0.2 | -0.2 | 13 | 28 | -14 |
| High Yield | 3.21 | 0.01 | 3.19 | 0.2 | 0.0 | 0.2 | 62 | 0 | 62 |
| Index Credit Default Swaps | 0.00 | 0.00 | 0.00 | 0.0 | 0.0 | 0.0 | 0 | 0 | 0 |
| Other | 0.31 | 0.54 | -0.23 | 0.0 | 0.0 | 0.0 | 4 | 1 | 3 |
| Interest Rate Derivatives | 0.00 | 0.00 | 0.00 | 0.0 | 0.0 | 0.0 | 0 | 0 | 0 |
| FX / Derivative P&L | -0.04 | 0.00 | -0.04 | -0.8 | 0.0 | -0.8 | -14 | 0 | -14 |
| Cash | 8.73 | 0.00 | 8.73 | 0.0 | 0.0 | 0.0 | 0 | 0 | 0 |
| Rounding adjustment | -0.03 | 0.02 | - | -0.1 | 0.1 | -0.1 | 1 | 0 | 0 |
| TOTAL | 100.00 | 100.00 | - | 6.1 | 7.1 | -1.0 | 421 | 365 | 56 |

Security Holdings as a percent of total net assets. Contribution to duration (CTD) and contribution to duration-times-spread (DTS) are in the appropriate units of measure. CTD and DTS include the effect of derivatives. ‘FX / Derivative P&L’ includes collateral balances with counterparties arising from derivatives used in the fund (this can lead to a negative balance). ‘Index linked’ includes non-government index linked bonds.

Translation (ENDE, 2020-08-31):
# Asset-Allokation
Wertpapierbestände (ohne Derivate)
Durationsbeitrag (mit Derivaten)
Beitrag zu Duration Times Spread (mit Derivaten)
|  | Fonds | Index | Relativ | Fonds | Index | Relativ | Fonds | Index | Relativ |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Staatsanleihen | 62,65 | 52,84 | 9,80 | 4,6 | 4,5 | 0,1 | 13 | 71 | -58 |
| Inflationsindexierte Anleihen | 2,18 | 0,00 | 2,18 | 0,2 | 0,0 | 0,2 | 12 | 0 | 12 |
| Behandl. von Derivaten bei Top-Positionen (sofern gehalten) | 0,82 | 21,02 | -20,20 | 0,2 | 0,8 | -0,6 | 15 | 54 | -39 |
| Investment Grade - Finanzwerte | 6,15 | 8,96 | -2,82 | 0,4 | 0,5 | -0,1 | 52 | 61 | -9 |
| Investment Grade - Nicht-Finanzwerte | 14,91 | 11,92 | 2,98 | 1,3 | 1,0 | 0,3 | 263 | 149 | 114 |
| Investment Grade - ABS | 0,00 | 0,06 | -0,06 | 0,0 | 0,0 | 0,0 | 0 | 1 | -1 |
| Investment Grade - Schwellenländer | 1,11 | 4,63 | -3,52 | 0,1 | 0,2 | -0,2 | 13 | 28 | -14 |
| Hochzinsanleihen | 3,21 | 0,01 | 3,19 | 0,2 | 0,0 | 0,2 | 62 | 0 | 62 |
| Index Credit Default Swaps | 0,00 | 0,00 | 0,00 | 0,0 | 0,0 | 0,0 | 0 | 0 | 0 |
| Sonstige | 0,31 | 0,54 | -0,23 | 0,0 | 0,0 | 0,0 | 4 | 1 | 3 |
| Zinsderivate | 0,00 | 0,00 | 0,00 | 0,0 | 0,0 | 0,0 | 0 | 0 | 0 |
| FX/Derivative P&L | -0,04 | 0,00 | -0,04 | -0,8 | 0,0 | -0,8 | -14 | 0 | -14 |
| Liquide Mittel | 8,73 | 0,00 | 8,73 | 0,0 | 0,0 | 0,0 | 0 | 0 | 0 |
| Rundungsausgleich | -0,03 | 0,02 | - | -0,1 | 0,1 | -0,1 | 1 | 0 | 0 |
| GESAMT | 100,00 | 100,00 | - | 6,1 | 7,1 | -1,0 | 421 | 365 | 56 |

Wertpapierbestände in Prozent des Gesamtnettovermögens. Contribution to Duration (CTD) und der Beitrag zu Duration Times Spread (DTS) sind in den entsprechenden Maßeinheiten angegeben. CTD und DTS berücksichtigen auch den Effekt von Derivaten. "FX/Derivate G&V" enthält Salden mit Gegenparteien für Sicherheiten, die aus vom Fonds verwendeten Derivaten resultieren (negativer Saldo möglich). "Inflationsindexiert" enthält auch inflationsindexierte Anleihen nichtstaatlicher Emittenten.