Deutsche Asset & Wealth Management
DWS Concept SICAV Semiannual Report 2014
DWS Concept Kaldemorgen n DWS Concept Winton Global Equity n
Investment Company with Variable Capital Incorporated under Luxembourg Law
Contents
Semiannual report 2014 for the period from January 1, 2014, through June 30, 2014 General information
2
Semiannual report DWS Concept SICAV
2014
DWS Concept Kaldemorgen
4
DWS Concept Winton Global Equity
5
Investment portfolios for the reporting period
8
1
General information The funds described in this
The corresponding benchmarks – if
Issue and redemption prices
report are sub-funds of a SICAV
available – are also presented in the
The current issue and redemption
(Société d’Investissement à
report. All financial data in this
prices and all other information for
Capital Variable) incorporated
publication is as of June 30, 2014
shareholders may be requested at
under Luxembourg law.
(unless otherwise stated).
any time at the registered office of
Performance
Sales prospectuses
the paying agents. In addition, the
The investment return, or performance,
Fund shares are purchased on the
issue and redemption prices are
of a mutual fund investment is meas-
basis of the current sales prospectus,
published in every country of distri-
ured by the change in value of the
the key investor information document
bution through appropriate media
fund’s shares. The net asset values per
and the articles of incorporation and
(such as the Internet, electronic
share (= redemption prices) with the
by-laws of the SICAV, in combination
information systems, newspapers,
addition of intervening distributions,
with the latest audited annual report
etc.).
which are, for example, reinvested free
and any semiannual report that is
of charge within the scope of invest-
more recent than the latest annual
ment accounts at DWS, are used as
report.
the Management Company and from
the basis for calculating the value. Past performance is not a guide to future results.
As of August 29, 2013 (date of registration in the Commercial Register), Deutsche Asset Management Investmentgesellschaft mbH was merged with DWS Investment GmbH and was renamed Deutsche Asset & Wealth Management Investment GmbH (abbreviated: DeAWM Investment GmbH).
2
Semiannual report
DWS Concept Kaldemorgen Performance of share classes (in euro) Share class
ISIN
6 months
Class LC
LU0599946893
3.4%
Class LD
LU0599946976 3.3%
Class NC
LU0599947198
3.0%
Class FC
LU0599947271
3.7%
LU0599947438
3.8%
Class A2H
LU0599947602
2.2%1
Class E2H3
LU0599947784
2.3%1
Class SC
LU1028182704
2.8%2
Class IC 3
1 2 3
Since inception on February 24, 2014 Since inception on March 24, 2014 in USD
“BVI method” performance, i.e., excluding the initial sales charge. Past performance is no guide to future results.
As of: June 30, 2014
DWS CONCEPT KALDEMORGEN Composition 34.7
Equities Bonds* Cash and other assets
20.6 44.7 0
In % of the fund’s net assets (* incl. pro-rata accrued interest)
4
10
20
30
40
50
As of: June 30, 2014
DWS Concept Winton Global Equity Performance of share classes vs. benchmark (in USD) Share class
ISIN
6 months
Class LC
LU0708390165 7.6%
Class LD
LU0708390249 7.6%
1
1
Class NC
LU0708390322 7.6%
Class ND1
LU0708390595 7.5%
Class FC1
LU0708390678 8.0%
Class FD
LU0708390751 8.1%
Class DS3
LU0727457524 3.6%
1
1
2
Class A2
LU0708389316
6.6%
Class E2
LU0708389589
7.1%
MSCI World (USD) 1 2
6.5%
in euro in GBP
“BVI method” performance, i.e., excluding the initial sales charge. Past performance is no guide to future results.
As of: June 30, 2014
DWS CONCEPT WINTON GLOBAL EQUITY Investment focus by sector Equities 95.9%* Consumer Discretionaries Information Technology Industrials Financials Health Care Consumer Staples Telecommunication Services Materials Energy Utilities Investment funds Cash and other assets
17.8 16.4 13.3 12.3 10.1 7.6 6.0 5.7 3.9 2.8 2.8 1.3 0
In % of the fund’s net assets (* incl. REITs 0.4%)
4
8
12
16
20
As of: June 30, 2014
5
0
s te date omple c str e fo v sed he in rmat u ns in t ”. io r t a ip e r The fo esc th/y rities d y/mon in secu rtfolio is “da o ment p
0
Investment portfolios for the reporting period
DWS Concept Kaldemorgen
Investment portfolio – June 30, 2014 Description
Count/ units/ currency
Quantity/ principal amount
Purchases/ Sales/ additions disposals Currency Market price in the reporting period
Total market value in EUR
% of net assets
Securities traded on an exchange 496 246 195.52 54.27 Equities Nestle SA -Reg- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 275 000 170 000 CHF 68.8 15 568 776.25 1.70 Novartis AG -Reg- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 175 000 175 000 CHF 80.3 11 563 437.01 1.26 Novo Nordisk A/S . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 250 000 250 000 DKK 250.7 8 406 555.33 0.92 Applus Services SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 200 000 383 222 183 222 EUR 15.225 3 045 000.00 0.33 bpost SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 375 000 425 000 EUR 18.395 6 898 125.00 0.75 CTS Eventim AG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 335 563 215 563 70 000 EUR 20.895 7 011 588.89 0.77 Deutsche Bank AG -Reg- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 50 000 675 000 775 000 EUR 25.68 1 284 000.00 0.14 Deutsche Boerse AG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 225 000 225 000 EUR 56.93 12 809 250.00 1.40 Deutsche Wohnen AG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 400 000 400 000 EUR 15.81 6 324 000.00 0.69 E.ON AG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 300 000 500 000 200 000 EUR 15.065 4 519 500.00 0.49 European Aeronautic Defence and Space Co. NV . . . . . . . . . . Count 160 000 160 000 EUR 49.095 7 855 200.00 0.86 Intesa Sanpaolo SpA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 3 000 000 4 000 000 1 000 000 EUR 2.264 6 792 000.00 0.74 Luxottica Group SpA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 25 000 100 000 75 000 EUR 42.19 1 054 750.00 0.12 NH Hoteles SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 700 443 740 182 39 739 EUR 4.35 3 046 927.05 0.33 Parrot SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 42 380 103 620 EUR 18.5 784 030.00 0.09 Raiffeisen International Bank Holding AG . . . . . . . . . . . . . . . . Count 350 000 760 962 410 962 EUR 23.2 8 120 000.00 0.89 Royal Dutch Shell Plc -A- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 700 000 250 000 400 000 EUR 30.075 21 052 500.00 2.30 Sanofi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 100 000 35 000 15 000 EUR 77.99 7 799 000.00 0.85 SAP AG ** . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 160 000 135 000 EUR 56.81 9 089 600.00 0.99 Smurfit Kappa Group Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 150 000 150 000 EUR 16.61 2 491 500.00 0.27 Unipol Gruppo Finanziario SpA . . . . . . . . . . . . . . . . . . . . . . . . Count 4 950 000 4 504 897 1 854 897 EUR 4.076 20 176 200.00 2.21 Anglo American Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 650 000 650 000 GBP 14.3 11 599 282.43 1.27 ASOS Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 100 000 100 000 GBP 29.86 3 726 246.08 0.41 AstraZeneca Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 50 000 50 000 GBP 43.4 2 707 955.12 0.30 Barclays Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 3 500 000 3 500 000 3 250 000 GBP 2.14 9 348 996.68 1.02 BHP Billiton Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 200 000 200 000 GBP 18.985 4 738 297.51 0.52 Smith & Nephew Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 450 000 600 000 725 000 GBP 10.4 5 840 198.15 0.64 Smiths Group Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 175 000 175 000 GBP 12.89 2 814 963.03 0.31 Standard Chartered Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 850 000 1 100 000 250 000 GBP 11.985 12 712 726.19 1.39 WPP Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 300 000 75 000 150 000 GBP 12.714 4 759 944.93 0.52 Prada S.p.A ** . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 2 000 000 2 000 000 HKD 55.1 10 405 312.47 1.14 Singapore Telecommunications Ltd . . . . . . . . . . . . . . . . . . . . . Count 4 000 000 2 500 000 SGD 3.85 9 031 593.70 0.99 Alcoa, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 500 000 750 000 250 000 USD 14.785 5 410 001.53 0.59 Amgen, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 125 000 125 000 USD 118.87 10 873 975.00 1.19 Cisco Systems, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 250 000 650 000 750 000 USD 24.8 4 537 302.60 0.50 FMC Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 175 000 175 000 USD 70.6 9 041 673.16 0.99 Google, Inc. -A- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 11 500 5 500 USD 583.95 4 914 502.47 0.54 Linear Technology Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 300 000 300 000 USD 47 10 318 704.30 1.13 Microsoft Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 250 000 250 000 USD 42.14 7 709 755.30 0.84 Occidental Petroleum Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 120 000 125 000 55 000 USD 102.91 9 037 428.59 0.99 Pfizer, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 350 000 350 000 USD 29.77 7 625 229.75 0.83 SK Telecom Co., Ltd -ADR- . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 200 000 275 000 75 000 USD 25.79 3 774 743.03 0.41 Talang AG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 25 000 70 000 EUR 25.335 633 375.00 0.07 Interest-bearing securities 7.50 % KFW (MTN) 2012/2015 . . . . . . . . . . . . . . . . . . . . . . 7.25 % Altice SA -Reg- 2014/2022 . . . . . . . . . . . . . . . . . . . . 10.125 % Assicurazioni Generali SpA (MTN) 2012/2042 * . . . 8.125 % BAWAG PSK Bank fuer Arbeit und Wirtschaft und Oesterreichische Postsparkasse AG (MTN) 2013/2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.75 % Commerzbank AG (MTN) 2011/2021 . . . . . . . . . . . . 7.00 % Eurofins Scientific (MTN) 2013/2049 * . . . . . . . . . . 9.00 % Hapag-Lloyd AG (MTN) 2010/2015 . . . . . . . . . . . . . 7.75 % Hapag-Lloyd AG (MTN) -Reg- 2013/2018 ** . . . . . . 0.00 % Italy Buoni Ordinari del Tesoro BOT 2014/2014 . . . 4.25 % Italy Buoni Poliennali del Tesoro 2011/2014 . . . . . . 6.00 % Italy Buoni Poliennali del Tesoro 2011/2014 . . . . . . 6.75 % KION Finance SA (MTN) -Reg- 2013/2020 . . . . . . . . 6.125 % Koninklijke KPN NV 2013/2049 * . . . . . . . . . . . . . . . 10.375 % Lloyds Bank PLC (MTN) 2012/2024 * . . . . . . . . . . . 11.875 % Lloyds TSB Bank Plc (MTN) 2011/2021 * . . . . . . . . 5.625 % Numericable Group SA -Reg- 2014/2024 . . . . . . . . . 3.35 % Portugal Obrigacoes do Tesouro OT 2005/2015 . . . 4.125 % Portugal Telecom International Finance BV 2007/2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.25 % Skandinaviska Enskilda Banken AB (MTN) 2009/2049 * . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.375 % Societe Generale 2010/2049 * . . . . . . . . . . . . . . . . . 8.367 % Talanx Finanz Luxembourg SA (MTN) 2012/2042 * . 7.75 % Thomas Cook Group Plc 2013/2020 . . . . . . . . . . . . 5.125 % Turkey Government International Bond 2010/2020 . 9.625 % Unitymedia GmbH -Reg- 2009/2019 . . . . . . . . . . . . 5.125 % Unitymedia Hessen GmbH & Co., KG (MTN) -Reg- 2013/2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.00 % Ziggo Bond Co. BV -Reg- 2010/2018 . . . . . . . . . . . . 14.00 % Barclays Bank Plc 2008/2049 * . . . . . . . . . . . . . . . . 4.95 % Gazprom OAO -Reg- 2012/2022 ** . . . . . . . . . . . . .
8
BRL EUR EUR
23 000 000 23 000 000 4 000 000 4 000 000 2 500 000
% % %
98.325 106.342 139.906
EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR
5 3 4 2 2 20 4 9 3 3
000 5 000 000 000 000 340 000 000 20 000 000 000 000 7 500 000 000 000 000 000 000 4 000 000 000
% % % % % % % % % % % % % %
121.072 124.192 111.725 103.762 106.89 99.904 100.01 102.084 109.534 108.4 131.5 124.494 107.126 103.645
EUR
1 500 000
%
100.5
EUR EUR EUR EUR EUR EUR
1 3 2 2 6 3
800 000 000 000 700 000
000 000 000 000 000 6 700 000 000
% % % % % %
EUR EUR GBP USD
3 3 3 15
000 000 400 000
000 000 000 000 15 000 000
% % % %
000 000 000 382 200 000 000 000 000 000 900 1 100 4 000 8 000
7 527 001.34 4 253 680.00 3 497 637.50 6 3 4 2 2 19 4 9 3 3 1 1 4 8
053 725 469 471 351 980 000 187 286 252 183 369 285 291
0.82 0.46 0.38
625.00 775.00 000.00 975.12 580.00 800.00 400.00 605.00 005.00 000.00 500.00 434.00 020.00 600.00
0.66 0.41 0.49 0.27 0.26 2.18 0.44 1.00 0.36 0.36 0.13 0.15 0.47 0.91
1 507 500.00
0.16
105.236 124.424 130.42 109.964 111.65 107.712
1 3 2 2 7 3
894 732 608 199 480 231
248.00 735.00 400.00 290.00 550.00 375.00
0.21 0.41 0.29 0.24 0.82 0.35
107.851 105.825 136.898 99.73
3 3 5 10
235 174 808 947
530.00 750.00 395.27 651.28
0.35 0.35 0.64 1.20
DWS Concept Kaldemorgen Description
Count/ units/ currency
Quantity/ principal amount
Purchases/ Sales/ additions disposals Currency Market price in the reporting period
Total market value in EUR
% of net assets
5.875 % Iceland Government International Bond -Reg2012/2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . USD 8 000 000 8 000 000 % 110.482 6 468 290.77 5.375 % Indonesia Government International Bond (MTN) -Reg- 2013/2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . USD 10 000 000 10 000 000 % 106.357 7 783 449.88 3.50 % Newmont Mining Corp. 2012/2022 . . . . . . . . . . . . . USD 7 000 000 7 000 000 % 96.434 4 940 057.73 5.375 % Petrobras International Finance Co. 2011/2021 . . . . USD 10 000 000 10 000 000 % 103.922 7 605 214.39 6.125 % Sberbank of Russia 2013/2022 . . . . . . . . . . . . . . . . USD 10 000 000 10 000 000 % 106.98 7 829 079.04 6.464 % T-Mobile USA, Inc. 2013/2019 . . . . . . . . . . . . . . . . . USD 3 000 000 % 106 2 327 197.14 6.625 % Turkey Government International Bond 2014/2045 . USD 6 000 000 10 000 000 4 000 000 % 115.92 5 089 997.28 8.125 % Yingde Gases Investment Ltd -Reg- 2013/2018 ** . USD 2 500 000 2 500 000 % 106.13 1 941 700.23 Securities admitted to or included in organized markets 4 950 554.27
0.71 0.85 0.54 0.83 0.86 0.25 0.56 0.21 0.54
Interest-bearing securities 8.125 % Commerzbank AG -Reg- 2013/2023 ** . . . . . . . . . . USD 5 600 000 % 120.798 4 950 554.27 0.54 Unlisted securities 1 161 335.00 0.13 Interest-bearing securities 9.875 % CEMEX Espana SA/Luxembourg -Reg2012/2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 1 000 000 % 116.134 1 161 335.00 0.13 Total securities portfolio 502 358 084.79 54.94 Derivatives (Minus signs denote short positions) Equity index derivatives -621 514.77 -0.07 Receivables/payables Equity index futures DAX Index Futures 09/2014 246 487.50 EUR (XEUR) . . . . . . . Count 100 100 67 862.50 0.01 S & P MINI 500 Futures 09/2014 71 440.56 USD (CME) . . . . Count -800 800 -689 377.27 -0.08 Interest rate derivatives -517 109.33 -0.06 Receivables/payables
Interest rate futures Euro OAT 09/2014 140 530.00 EUR (XEUR) . . . . . . . . . . . . . . Count -150 150 -297 000.00 -0.03 Germany Federal Republic Notes 10 year 09/2014 147 010.00 EUR (XEUR) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count -400 400 -252 895.00 -0.03 Nikkei 225 Futures 09/2014 55 581.96 USD (CME) . . . . . . . . Count 500 500 32 785.67 0.00 Currency derivatives -625 726.97 -0.07 Receivables/payables Currency futures (short) Open positions EUR/CHF 60.8 million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -47 199.96 -0.01 USD/JPY 10 168.6 million . . . . . . . . . . . . . . . . . . . . . . . . . . . . -204 443.14 -0.02 Closed positions USD/JPY 10 192.3 million . . . . . . . . . . . . . . . . . . . . . . . . . . . . 347 998.94 0.04 Currency futures (long) Open positions JPY/USD 48.7 million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 437.86 0.00 USD/EUR 240.4 million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -725 928.28 -0.08 Closed positions USD/EUR 0.1 million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 407.61 0.00 Cash at bank 405 223 482.60 44.31 Demand deposits at Custodian EUR deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 26 958 257.66 2.95 Deposits in other EU/EEA currencies British pound . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . GBP 657 521 820 524.33 0.09 Danish krone . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DKK 725 597 97 323.80 0.01 Norwegian krone . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NOK 1 911 582 227 577.20 0.03 Swedish krona . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SEK 3 675 957 401 119.76 0.04
9
DWS Concept Kaldemorgen Description
Count/ units/ currency
Quantity/ principal amount
Purchases/ Sales/ additions disposals Currency Market price in the reporting period
Total market value in EUR
% of net assets
Deposits in non-EU/EEA currencies Australian dollar. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . AUD 304 025 209 165.40 0.02 Brazilian real . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BRL 16 687 225 5 554 107.93 0.61 Hong Kong dollar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . HKD 2 202 688 207 982.37 0.02 Japanese yen . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . JPY 208 516 810 1 504 682.71 0.17 Canadian dollar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CAD 5 655 893 3 875 754.97 0.42 Swiss franc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHF 503 420 414 251.21 0.05 Singapore dollar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SGD 302 121 177 183.90 0.02 South Korean won . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . KRW 5 577 116 475 4 033 862.53 0.44 Turkish lira . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . TRY 521 075 179 650.28 0.02 U.S. dollar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . USD 55 426 023 40 562 038.55 4.44 Time deposit EUR deposits (DekaBank Deutsche Girozentrale 0.04% p.a. 01/07/2014) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 110 000 000 110 000 000.00 12.03 EUR deposits (DZ Bank AG 0.00% p.a. 04/07/2014) . . . . . . . . EUR 70 000 000 70 000 000.00 7.65 EUR deposits (Landesbank Baden-Wuerttemberg 0.01% p.a. 01/07/2014) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 70 000 000 70 000 000.00 7.65 EUR deposits (Landesbank Baden-Wuerttemberg 0.04% p.a. 04/07/2014) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 70 000 000 70 000 000.00 7.65 Other assets 11 961 716.08 1.31 Dividends receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 436 927.81 0.05 Interest receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 419 876.57 0.37 Other receivables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 104 911.70 0.89 Receivables from share certificate transactions 6 097 864.98 0.67 Total assets*** 926 093 641.03 101.28 Other liabilities -9 248 973.42 -1.01 Liabilities from cost items . . . . . . . . . . . . . . . . . . . . . . . . . . . . -5 233 225.04 -0.57 Additional other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -4 015 748.38 -0.44 Liabilities from share certificate transactions -171 303.80 -0.02 Total liabilities*** -11 637 120.87 -1.28 Net assets 914 456 520.16 100.00 Negligible rounding errors may have arisen due to the rounding of calculated percentages. Net asset value per share and number of shares outstanding
Count/ currency
Net asset value per share in the respective currency
Net asset value per share Class FC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 124.00 Class IC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 113.26 Class LC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 121.49 Class LD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 120.45 Class NC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 118.68 Class SC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 102.79 Class A2H . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . USD 102.21 Class E2H . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . USD 102.31 Number of shares outstanding Class FC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 1 973 719 Class IC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 543 933 Class LC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 2 349 550 Class LD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 1 771 996 Class NC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 556 463 Class SC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 404 859 Class A2H . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 20 662 Class E2H . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 200 Composition of the reference portfolio (according to CSSF circular 11/512) 70% MSCI AC WORLD INDEX Constituents in EUR, 30% JP Morgan GBI Global Bond Index in EUR Constituents Market risk exposure (value-at-risk) (according to CSSF circular 11/512) Lowest market risk exposure . . . . . . . . . . . . . . . . . . . . . . . . . . % 50.489 Highest market risk exposure . . . . . . . . . . . . . . . . . . . . . . . . . % 94.460 Average market risk exposure . . . . . . . . . . . . . . . . . . . . . . . . . % 70.589
10
DWS Concept Kaldemorgen The values-at-risk were calculated for the period from January 1, 2014, through June 30, 2014, using historical simulation with a 99% confidence level, a 10-day holding period and an effective historical observation period of one year. The risk in a reference portfolio that does not contain derivatives is used as the measurement benchmark. Market risk is the risk to the fund’s assets arising from an unfavorable change in market prices. The Company determines the potential market risk by means of the relative value-at-risk approach as defined in CSSF circular 11/512. In the reporting period, the average leverage effect from the use of derivatives was 1.0, whereby the total of the nominal amounts of the derivatives in relation to the fund’s assets was used for the calculation (sum-of-notional approach). The gross exposure generated via derivatives pursuant to point 40 a) of the “Guidelines on ETFs and other UCITS issues” of the European Securities and Markets Authority (ESMA) totaled EUR 830 292 414.86 as of the reporting date. Does not include any forward currency transactions entered into for currency hedging purposes at the level of the share classes. Market abbreviations
Futures exchanges CME = Chicago Mercantile Exchange XEUR = Eurex Contracting parties for currency futures Deutsche Bank AG Frankfurt, Goldman Sachs International and UBS AG London Securities lending The following securities were transferred under securities loans at the reporting date: Security description
Quantity/ Limited maturity principal amount (– / ’000)
Securities loans Total market value in euro Perpetual
Total
Prada S.p.A Count 2 000 000 10 405 312.00 SAP AG Count 150 000 8 521 500.00 7.75 % Hapag-Lloyd AG (MTN) -Reg- 2013/2018 EUR 1 200 000 1 282 680.00 8.125 % Commerzbank AG -Reg- 2013/2023 USD 1 500 000 1 326 041.33 4.95 % Gazprom OAO -Reg- 2012/2022 USD 5 600 000 4 087 123.15 8.125 % Yingde Gases Investment Ltd -Reg- 2013/2018 USD 1 000 000 776 680.09 Total receivables from securities loans 26 399 336.57 26 399 336.57 Contracting parties for securities loans Barclays Capital Securities Limited, Citigroup Global Markets, Deutsche Bank London, Merrill Lynch International, Nomura International Plc and Unicredit Bank AG. Total collateral pledged by third parties for securities loans EUR 612 661 761.85 including: Equities EUR 27 048 412.49 Other assets EUR 585 613 349.36 Exchange rates (indirect quotes) As of June 30, 2014 Australian dollar . . . . . . . . . . . . . . . . . AUD 1.453517 = EUR 1 Brazilian real . . . . . . . . . . . . . . . . . . . . BRL 3.004483 = EUR 1 Canadian dollar . . . . . . . . . . . . . . . . . CAD 1.459301 = EUR 1 Swiss franc . . . . . . . . . . . . . . . . . . . . . CHF 1.215253 = EUR 1 Danish krone . . . . . . . . . . . . . . . . . . . DKK 7.455491 = EUR 1 British pound . . . . . . . . . . . . . . . . . . . GBP 0.801343 = EUR 1 Hong Kong dollar . . . . . . . . . . . . . . . . HKD 10.590744 = EUR 1 Japanese yen . . . . . . . . . . . . . . . . . . . JPY 138.578591 = EUR 1 South Korean won . . . . . . . . . . . . . . . KRW 1 382.574748 = EUR 1 Norwegian krone . . . . . . . . . . . . . . . . NOK 8.399709 = EUR 1 Swedish krona . . . . . . . . . . . . . . . . . . SEK 9.164238 = EUR 1 Singapore dollar . . . . . . . . . . . . . . . . . SGD 1.705125 = EUR 1 Turkish lira . . . . . . . . . . . . . . . . . . . . . TRY 2.900496 = EUR 1 U.S. dollar . . . . . . . . . . . . . . . . . . . . . . USD 1.366451 = EUR 1 Notes on valuation Under the responsibility of the Board of Directors of the SICAV, the Management Company determines the net asset values per share and performs the valuation of the assets of the fund. The basic provision of price data and price validation are performed in accordance with the method introduced by the Board of Directors of the SICAV on the basis of the legal and regulatory requirements or the principles for valuation methods defined in the SICAV’s prospectus. If no trading prices are available, prices are determined with the aid of valuation models (derived market values) which are agreed between State Street Bank Luxembourg as external price service provider and the Management Company and which are based as far as possible on market parameters. This procedure is subject to an ongoing monitoring process. The plausibility of price information from third parties is checked through other pricing sources, model calculations or other suitable procedure. Assets reported in this report are not valued at derived market values. Footnotes * Floating interest rate ** Some or all of these securities are lent. The equivalent value of the lent securities is *** In the case of derivatives and futures contracts, the amount shown under “Total assets” takes into account any surplus from the netting of single positions within the same product category, while deficits are subsumed under “Total liabilities.”
11
DWS Concept Kaldemorgen Transactions completed during the reporting period that no longer appear in the investment portfolio: Purchases and sales of securities, investment fund units and promissory note loans (Schuldscheindarlehen); market classifications are as of the reporting date
Count/ Count/ Purchases/ Sales/ Purchases/ Sales/ Description units/ Description units/ additions disposals additions disposals currency currency
Securities traded on an exchange Equities ABB Ltd -Reg- . . . . . . . . . . . . . . . . . . . . . . . . . . . Count ADT Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 150 000 Allergan, Inc.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count AOL, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 75 000 Apache Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 125 000 Ashtead Group Plc . . . . . . . . . . . . . . . . . . . . . . . . Count 200 000 Barrick Gold Corp. . . . . . . . . . . . . . . . . . . . . . . . . Count 250 000 BG Group Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count BM&FBOVESPA SA . . . . . . . . . . . . . . . . . . . . . . . Count 1 150 000 British Sky Broadcasting Group Plc . . . . . . . . . . . Count Cia de Concessoes Rodoviarias . . . . . . . . . . . . . . Count 1 250 000 Deutsche Wohnen AG . . . . . . . . . . . . . . . . . . . . Count EMC Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count ENI SpA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 100 000 Estee Lauder Cos, Inc. . . . . . . . . . . . . . . . . . . . . . Count 200 000 Gazprom -ADR- . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 2 722 381 Gilead Sciences, Inc. . . . . . . . . . . . . . . . . . . . . . . Count 100 000 Google, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 11 500 Holcim Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 100 000 Hynix Semiconductor, Inc. . . . . . . . . . . . . . . . . . . Count 100 000 Intel Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 250 000 JBS SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 2 000 000 Just Eat Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 315 291 Kla-Tencor Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . Count MMC Norilsk Nickel -ADR- . . . . . . . . . . . . . . . . . . Count 600 000 Newmont Mining Corp. . . . . . . . . . . . . . . . . . . . . Count 290 000 Numericable Group . . . . . . . . . . . . . . . . . . . . . . . Count 170 000 Petroleo Brasileiro SA -ADR- . . . . . . . . . . . . . . . . Count 200 000 Quest Diagnostics, Inc. . . . . . . . . . . . . . . . . . . . . Count 175 000 Raiffeisen Bank International AG . . . . . . . . . . . . . Count 51 105 Roche Holding AG . . . . . . . . . . . . . . . . . . . . . . . . Count Rock-Tenn Co. -A- . . . . . . . . . . . . . . . . . . . . . . . . Count 25 000 Rosneft Oil Co. -GDR- . . . . . . . . . . . . . . . . . . . . . Count Royal Mail Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 550 000 Sberbank of Russia -ADR- . . . . . . . . . . . . . . . . . . Count 750 000 Stada Arzneimittel AG . . . . . . . . . . . . . . . . . . . . . Count 125 000 Teradata Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . Count Teva Pharmaceutical Industries Ltd -ADR- . . . . . . Count 128 400 UniCredit SpA . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count Unilever NV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 225 000 Vale SA -ADR- . . . . . . . . . . . . . . . . . . . . . . . . . . . Count Vodafone Group Plc . . . . . . . . . . . . . . . . . . . . . . . Count 1 000 000 Interest-bearing securities 8.00 % ING Groep NV (MTN) 2010/2049 . . . . 6.50 % Kabel Deutschland Holding AG 2012/2017 . . . . . . . . . . . . . . . . . . . . . 8.00 % KBC Bank NV/SA 2008/2049 . . . . . . . 7.875 % Kion Finance SA (MTN) 2011/2018 . . 8.75 % KUKA AG (MTN) 2010/2017 . . . . . . . 0.00 % Spain Letras del Tesoro 2012/2014 . . 0.00 % Spain Letras del Tesoro 2012/2014 . .
12
EUR
EUR EUR EUR EUR EUR EUR
300 000 150 000 80 000 75 000 125 000 200 000 250 000 650 000 2 400 000 550 000 1 250 000 420 750 375 000 100 000 200 000 3 222 381 100 000 11 500 100 000 200 000 250 000 2 000 000 315 291 40 584 600 000 450 000 170 000 850 000 175 000 51 105 30 000 25 000 600 000 550 000 1 250 000 125 000 100 000 328 400 1 000 000 225 000 500 000 3 500 000 1 000 000 1 5 1 1 10 3
000 000 600 000 000 500
000 000 000 000 000 000
Unlisted securities Interest-bearing securities 0.00 % Grohe Holding GmbH (MTN) 2012/2017 . . . . . . . . . . . . . . . . . . . . . EUR
1 500 000
Investment fund units Non-group fund units Gold Bullion Securities Ltd (0.400%) . . . . . . . . . . Units iShares MSCI Turkey UCITS ETF (0.000%) . . . . Units 900 000
130 000 900 000
Derivatives (option premiums realized in opening transactions, or total options transactions; in the case of warrants, purchases and sales are shown) Value (’000) Futures contracts Equity index futures Contracts purchased (Underlyings: Dax, S&P 500) EUR 1 037 078 Contracts sold (Underlyings: Dax, Nikkei 225, S&P 500) EUR 359 388 Interest rate futures Contracts purchased (Underlyings: EURO BUND, Euro Futures, EURO OAT) EUR 321 546 Currency futures (short) Futures contracts to sell currencies EUR/CHF EUR 50 000 EUR/USD EUR 897 581 USD/BRL EUR 412 580 USD/JPY EUR 175 215 USD/TRY EUR 91 774 Currency futures (long) Futures contracts to purchase currencies BRL/USD EUR 461 452 CHF/EUR EUR 100 000 JPY/USD EUR 144 924 TRY/USD EUR 91 319 USD/EUR EUR 747 534
DWS Concept Winton Global Equity
Investment portfolio – June 30, 2014 Description
Count/ units/ currency
Quantity/ principal amount
Purchases/ Sales/ additions disposals Currency Market price in the reporting period
Securities traded on an exchange Equities Amcor Ltd/Australia . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Australia & New Zealand Banking Group Ltd . . . . . . . . . . . . . . CSL Ltd. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Fortescue Metals Group Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . GPT Group . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Insurance Australia Group Ltd . . . . . . . . . . . . . . . . . . . . . . . . . Lend Lease Corp., Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Macquarie Group Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . National Australia Bank Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . Orica Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Rio Tinto Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Telstra Corp., Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Woodside Petroleum Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Canadian Tire Corp., Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gildan Activewear, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Magna International, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Shaw Communications, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . Sun Life Financial, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Baloise Holding AG -R- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Lonza Group AG -Reg- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Roche Holding AG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Swiss Re Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SwissCom AG -Reg- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . AP Moeller - Maersk A/S . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Aegon NV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Ageas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Amadeus IT Holding SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Anheuser-Busch InBev NV . . . . . . . . . . . . . . . . . . . . . . . . . . . . AXA SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BASF SE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Belgacom SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Bouygues SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cie Generale des Etablissements Michelin . . . . . . . . . . . . . . . Colruyt SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Continental AG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Credit Agricole SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Delhaize Group . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Deutsche Telekom AG -Reg- . . . . . . . . . . . . . . . . . . . . . . . . . . EDP - Energias de Portugal SA . . . . . . . . . . . . . . . . . . . . . . . . Enagas SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gas Natural SDG SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Henkel AG & Co. KGaA -Pref- . . . . . . . . . . . . . . . . . . . . . . . . . Iberdrola SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . KBC Groep NV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Koninklijke Ahold NV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Lagardere SCA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Mediaset SpA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Merck KGaA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Muenchener Rueckversicherungs AG -Reg- . . . . . . . . . . . . . . OMV AG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OPAP SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Porsche Automobil Holding SE -Pref- . . . . . . . . . . . . . . . . . . . Publicis Groupe SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Red Electrica Corp. SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Renault SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Safran SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Sampo Oyj -A- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stora Enso Oyj -R- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Suez Environnement SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . UPM-Kymmene Oyj . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Valeo SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Veolia Environnement SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Vinci SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Voestalpine AG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Wolters Kluwer NV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . AstraZeneca Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Babcock International Group Plc . . . . . . . . . . . . . . . . . . . . . . . BHP Billiton Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . British American Tobacco Plc . . . . . . . . . . . . . . . . . . . . . . . . . . British Sky Broadcasting Group Plc . . . . . . . . . . . . . . . . . . . . . BT Group Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cable & Wireless Communications Plc . . . . . . . . . . . . . . . . . . Centrica Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cobham Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Daily Mail & General Trust Plc . . . . . . . . . . . . . . . . . . . . . . . . . Drax Group Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . GKN Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Hays Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . IMI Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Ladbrokes Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count
47 25 8 113
679 977 103 908 102 179 334 53 602 10 830 3 569 37 089 13 481 255 380 9 142 15 145 15 645 12 790 11 031 14 532 9 054 4 851 2 866 6 960 2 643 330 88 808 16 018 22 835 2 601 29 736 3 676 30 764 16 887 7 387 8 709 2 736 42 367 11 551 56 635 183 882 11 635 36 711 5 215 20 731 6 121 51 741 25 838 81 480 11 842 448 17 783 48 058 6 676 7 412 11 749 7 278 12 462 13 782 65 457 48 872 42 519 6 635 18 177 7 014 16 774 36 317 17 349 18 935 15 581 12 618 47 816 154 378 613 094 103 271 184 693 52 471 1 647 110 276 210 561 17 502 163 721
19 11 3 130 11 175 23 4 4 37 14 112 8 11 5 4 5 5 4 1 1 2 1
929 313 274 270 421 868 608 470 750 533 593 716 976 482 084 505 812 623 195 846 099 656 040 373 34 015 6 430 11 507 975 13 228 1 389 17 955 9 035 3 142 3 309 2 898 42 965 4 408 76 929 108 991 11 154 14 146 2 008 27 690 2 315 62 994 26 676 30 804 8 232 547 8 112 4 704 4 007 1 812 7 084 2 776 6 556 5 259 87 567 62 705 24 110 2 557 6 873 9 591 7 021 44 464 6 837 10 686 5 890 4 818 17 769 118 818 233 018 39 250 71 169 20 098 6 295 111 969 80 029 23 768 61 894
22 13 3 16 60 80 27 5 1
469 054 817 362 110 011 200 104 181 444 1 112 121 945 3 819 6 137 7 039 5 573 23 181 6 491 3 747 2 295 1 364 3 300 1 285 43 42 244 7 599 10 685 1 216 11 427 1 730 12 471 6 784 3 501 4 116 162 598 5 478 20 294 57 735 117 17 547 2 492 6 959 2 882 11 253 838 38 353 2 860 99 6 999 7 632 2 594 439 3 171 3 450 4 240 6 536 22 110 22 016 16 307 3 172 8 557 2 577 7 470 8 147 8 444 23 381 7 334 5 987 22 199 59 953 289 821 48 818 88 281 24 959 53 740 1 693 99 538 6 266 77 063
AUD AUD AUD AUD AUD AUD AUD AUD AUD AUD AUD AUD AUD CAD CAD CAD CAD CAD CHF CHF CHF CHF CHF DKK EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP
10.43 33.34 66.55 4.35 3.84 5.84 13.11 59.63 32.78 19.48 59.31 5.21 41.07 102.09 62.7 115.34 27.4 39.32 104.6 95.95 265.4 78.95 517 13 560 6.392 29.25 30.31 84.24 17.435 85.41 24.34 30.375 87.74 37.065 169.2 10.35 49.29 12.885 3.656 23.465 23.175 83.99 5.598 39.965 13.775 23.76 3.54 63.59 162.1 32.895 12.95 76.16 62.01 66.68 66.31 47.85 36.87 7.17 14.165 12.52 98.58 14.005 54.87 34.685 21.575 43.4 11.64 18.985 34.905 9.066 3.862 0.5 3.125 3.133 8.405 6.415 3.629 1.466 14.86 1.399
Total market value in USD
208 000 020.99 467 814 506 465
504.02 195.11 953.12 819.20 368.22 984 576.31 660 628.93 607 109.69 109 983.97 679 216.11 751 664.31 1 250 830.63 352 971.65 1 447 776.63 918 527.55 1 381 336.77 283 018.31 535 042.13 1 064 877.05 523 363.64 855 272.28 617 857.99 1 536 437.85 820 146.26 775 680.38 640 218.33 945 759.90 299 400.59 708 432.45 429 020.62 1 023 192.44 700 910.78 885 645.00 441 089.02 632 572.63 599 186.48 777 987.01 997 156.39 918 627.30 373 061.90 1 162 545.36 598 516.10 158 579.52 334 269.04 973 913.47 838 878.91 394 137.93 1 028 982.12 99 232.74 799 335.07 850 412.05 694 763.84 628 045.47 1 070 509.29 659 454.79 814 823.67 694 351.42 641 311.75 945 955.35 727 413.43 893 765.71 347 855.82 525 889.70 795 009.44 1 070 667.74 1 283 925.58 375 832.18 504 407.59 751 024.04 739 237.16 1 016 654.43 522 724.37 550 305.79 986 703.13 752 025.80 18 016.32 682 407.27 526 365.70 443 488.30 390 569.01
% of net assets
96.28 0.22 0.38 0.23 0.22 0.00 0.46 0.31 0.28 0.05 0.31 0.35 0.58 0.16 0.67 0.42 0.64 0.13 0.25 0.49 0.24 0.40 0.29 0.71 0.38 0.36 0.30 0.44 0.14 0.33 0.20 0.47 0.32 0.41 0.20 0.29 0.28 0.36 0.46 0.43 0.17 0.54 0.28 0.07 0.15 0.45 0.39 0.18 0.48 0.05 0.37 0.39 0.32 0.29 0.50 0.31 0.38 0.32 0.30 0.44 0.34 0.41 0.16 0.24 0.37 0.50 0.59 0.17 0.23 0.35 0.34 0.47 0.24 0.25 0.46 0.35 0.01 0.32 0.24 0.21 0.18
13
DWS Concept Winton Global Equity Description
Legal & General Group Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . London Stock Exchange Group Plc . . . . . . . . . . . . . . . . . . . . . Marks & Spencer Group Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . Next Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Old Mutual Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Persimmon Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Reckitt Benckiser Group Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . Resolution Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Rexam Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Royal Dutch Shell Plc -B- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Segro Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Shire Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Tate & Lyle Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Unilever Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Vodafone Group Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . William Hill Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BOC Hong Kong Holdings Ltd . . . . . . . . . . . . . . . . . . . . . . . . . China Construction Bank Corp. -H- . . . . . . . . . . . . . . . . . . . . . China Mobile Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CNOOC Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Hang Seng Bank Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Industrial & Commercial Bank of China -H- . . . . . . . . . . . . . . . Aisin Seiki Co., Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Asahi Kasei Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Bridgestone Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Central Japan Railway Co. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Credit Saison Co., Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Daiwa House Industry Co., Ltd . . . . . . . . . . . . . . . . . . . . . . . . FUJIFILM Holdings Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Hoya Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ITOCHU Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . JGC Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . JX Holdings, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Kajima Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Marubeni Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Mitsubishi Materials Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Mitsubishi UFJ Financial Group, Inc. . . . . . . . . . . . . . . . . . . . . Mitsui & Co., Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Mizuho Financial Group, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . Nippon Express Co., Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Nippon Telegraph & Telephone Corp. . . . . . . . . . . . . . . . . . . . Nippon Yusen KK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NKSJ Holdings, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NTT DoCoMo, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OJI Paper Co., Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Osaka Gas Co., Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Otsuka Holdings Co., Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Sega Sammy Holdings, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . Sekisui House Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Seven & I Holdings Co., Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . Shinsei Bank Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Shionogi & Co., Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Sumitomo Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Sumitomo Metal Mining Co., Ltd . . . . . . . . . . . . . . . . . . . . . . . Sumitomo Mitsui Financial Group, Inc. . . . . . . . . . . . . . . . . . . Sumitomo Mitsui Trust Holdings, Inc. . . . . . . . . . . . . . . . . . . . Taisei Corp.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Toppan Printing Co., Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Toyota Industries Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . West Japan Railway Co. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DnB NOR Bank ASA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Telenor ASA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yara International ASA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Nordea Bank AB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . TeliaSonera AB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DBS Group Holdings Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Singapore Telecommunications Ltd . . . . . . . . . . . . . . . . . . . . . 3M Co. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . AbbVie, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Accenture Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Aflac, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Amgen, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Apollo Group, Inc. -A- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Apple, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Archer-Daniels-Midland Co. . . . . . . . . . . . . . . . . . . . . . . . . . . . Assurant, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . AT&T, Inc.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Autozone, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Avery Dennison Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Bed Bath & Beyond, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Biogen Idec, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Boston Scientific Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CA, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14
Count/ units/ currency
Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count
Quantity/ principal amount
Purchases/ Sales/ additions disposals Currency Market price in the reporting period
97 430 98 926 1 496 23 174 8 844 10 991 103 727 131 049 49 337 11 523 4 590 5 610 150 742 57 294 71 260 23 472 8 921 11 096 9 477 3 631 4 509 151 193 92 771 48 149 2 197 2 198 21 842 8 418 10 441 151 784 169 385 17 601 14 290 5 425 6 660 5 327 7 763 56 796 24 493 9 440 11 709 266 099 338 915 72 816 129 962 49 778 61 819 217 000 94 500 109 000 1 151 000 555 000 520 000 105 500 47 500 54 500 458 000 218 000 171 000 50 200 26 900 23 300 1 436 000 859 000 682 000 9 300 12 900 3 600 90 000 36 000 40 000 1 500 1 600 100 7 400 3 500 3 400 8 400 3 400 3 800 13 000 10 000 22 000 28 700 23 400 8 300 26 300 10 400 11 800 67 400 72 500 5 100 10 000 5 000 6 000 95 800 36 300 41 500 45 000 60 000 15 000 111 000 53 000 49 000 193 000 186 000 78 000 128 500 60 900 53 300 46 000 46 000 382 600 145 600 143 400 84 000 47 000 96 000 14 800 9 700 6 100 97 000 38 000 43 000 14 700 5 600 6 400 52 600 21 100 24 000 146 000 87 000 49 000 112 000 45 000 57 000 21 000 8 200 9 300 6 700 4 300 9 100 20 700 22 500 1 800 13 300 5 100 5 800 201 000 74 000 85 000 41 300 31 400 12 900 28 600 40 100 11 500 39 000 22 000 15 000 16 200 7 000 6 100 145 000 84 000 47 000 110 000 42 000 48 000 73 000 27 000 31 000 12 100 4 600 5 200 12 800 4 900 5 600 24 895 1 385 3 222 25 030 1 393 3 240 15 619 869 2 022 35 539 13 509 16 802 130 211 109 135 58 278 3 000 247 000 110 000 126 000 8 709 4 235 3 662 18 366 5 850 7 976 7 635 2 449 3 425 9 556 3 067 4 289 5 135 1 646 2 302 22 679 12 672 8 100 13 226 12 956 772 15 674 5 029 7 033 9 648 3 094 4 327 26 213 8 405 11 756 1 220 392 548 12 827 4 113 5 752 7 454 2 376 3 329 1 909 613 857 51 009 16 361 22 880 38 674 14 877 15 338
GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP HKD HKD HKD HKD HKD HKD JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY NOK NOK NOK SEK SEK SGD SGD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD
2.251 20.11 4.26 64.6 1.983 12.7 51.25 3.142 5.32 25.36 3.442 46.05 6.845 26.59 1.954 3.27 22.45 5.86 75.2 13.96 126.9 4.9 4 030 775 3 545 14 450 2 108 2 100 2 825 3 366 1 301 3 078 542 448 741 355 621 1 624 208 491 6 318 292 2 728 1 732 417 426 3 140 1 993 1 389 4 268 228 2 114 1 368 1 645 4 244 463 561 784 5 230 4 460 111.7 139.4 308.2 94.6 48.98 16.75 3.85 143.53 56.43 81.52 62.55 118.87 31.17 92.67 44.03 66.04 35.44 533.28 51.05 57.315 317.605 12.76 28.77
Total market value in USD
1
1 1
1
1
1 1
1
1
373 976.12 794 673.53 753 489.30 269 327.69 509 721.17 508 310.98 828 209.91 809 924.29 19 930.46 944 533.41 890 866.31 122 115.44 62 177.30 110 544.57 886 859.04 724 669.22 628 555.39 870 242.76 023 617.68 824 932.42 821 926.19 907 858.15 369 560.72 687 768.08 52 433.07 054 380.52 174 601.39 269 190.95 799 462.60 872 906.37 864 639.35 303 505.40 511 991.32 198 787.16 811 033.87 675 590.40 786 851.06 736 616.87 784 704.43 406 685.40 922 017.45 279 288.07 395 420.80 898 320.76 600 325.40 470 462.95 650 199.67 131 667.90 283 511.31 559 723.91 451 885.82 860 900.26 385 789.08 632 598.73 677 935.22 661 982.94 608 489.87 564 334.66 624 000.39 562 914.76 452 371.28 567 614.32 783 097.04 501 295.65 950 963.94 40 269.26 762 070.76 250 002.77 036 393.38 622 405.20 597 727.80 610 397.45 706 904.43 225 653.42 690 126.22 637 153.92 928 988.72 650 601.60 654 818.35 427 226.01 606 307.95 650 874.84 112 650.98
% of net assets
0.17 0.37 0.35 0.59 0.24 0.24 0.38 0.37 0.01 0.44 0.41 0.52 0.03 0.51 0.41 0.34 0.29 0.40 0.47 0.38 0.38 0.42 0.17 0.32 0.02 0.49 0.08 0.12 0.37 0.40 0.40 0.14 0.24 0.09 0.38 0.31 0.36 0.34 0.36 0.19 0.43 0.13 0.18 0.42 0.28 0.22 0.30 0.06 0.13 0.26 0.21 0.40 0.18 0.29 0.31 0.31 0.28 0.26 0.29 0.26 0.21 0.26 0.36 0.23 0.44 0.02 0.35 0.58 0.48 0.29 0.28 0.28 0.33 0.57 0.32 0.29 0.43 0.30 0.30 0.20 0.28 0.30 0.51
DWS Concept Winton Global Equity Description
Cardinal Health, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CF Industries Holdings, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . Cintas Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cisco Systems, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Coach, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Comcast Corp. -A- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Computer Sciences Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . ConocoPhillips . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Constellation Brands, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Corning, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CR Bard, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CVS Caremark Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Discover Financial Services . . . . . . . . . . . . . . . . . . . . . . . . . . . Dover Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dow Chemical Co. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dun & Bradstreet Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Eli Lilly & Co. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Emerson Electric Co. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Fidelity National Information Services, Inc. . . . . . . . . . . . . . . . First Solar, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . FLIR Systems, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Frontier Communications Corp. . . . . . . . . . . . . . . . . . . . . . . . . GameStop Corp. -A- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gannett Co., Inc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gap, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Garmin Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . General Dynamics Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Genuine Parts Co. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Genworth Financial, Inc. -A- . . . . . . . . . . . . . . . . . . . . . . . . . . . Gilead Sciences, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Google, Inc. -A- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Graham Holdings Co. -B- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . H&R Block, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Harris Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Hasbro, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Helmerich & Payne, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Hershey Co. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Hewlett-Packard Co. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Home Depot, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Humana, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Huntington Bancshares, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . Illinois Tool Works, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Intel Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Jabil Circuit, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Johnson & Johnson . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Kimberly-Clark Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Kla-Tencor Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . L-3 Communications Holdings, Inc. . . . . . . . . . . . . . . . . . . . . . Legg Mason, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Leggett & Platt, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Leidos Holdings, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Linear Technology Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Lorillard, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LyondellBasell Industries NV . . . . . . . . . . . . . . . . . . . . . . . . . . Macy‘s, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Marathon Petroleum Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Mastercard, Inc. -A- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Medtronic, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Micron Technology, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Microsoft Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Molson Coors Brewing Co. . . . . . . . . . . . . . . . . . . . . . . . . . . . Morgan Stanley . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NASDAQ OMX Group, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . Northrop Grumman Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Nvidia Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Oracle Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Parker Hannifin Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Paychex, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PetSmart, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Pfizer, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Phillips 66 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Pitney Bowes, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Precision Castparts Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Qualcomm, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Raytheon Co. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Rockwell Automation, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Safeway, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SanDisk Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Scripps Networks Interactive, Inc. . . . . . . . . . . . . . . . . . . . . . . Seagate Technology Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Southwest Airlines Co. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . St Jude Medical, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Staples, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Count/ units/ currency
Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count Count
Quantity/ principal amount
14 193 2 453 21 975 45 225 6 315 18 050 17 170 20 859 7 097 53 264 8 851 14 578 6 820 13 090 18 693 2 169 18 881 19 469 16 076 9 223 31 690 85 799 16 487 26 542 23 726 18 661 10 844 14 460 20 359 6 712 781 1 572 22 113 18 279 12 355 4 622 12 689 32 450 9 482 11 012 47 911 16 657 47 751 36 818 7 398 9 882 15 353 13 899 17 083 19 681 28 287 23 340 21 945 11 810 16 429 9 844 9 916 23 241 26 867 27 865 10 739 10 671 25 373 10 580 29 125 26 334 6 291 18 670 8 996 44 039 12 581 18 924 2 070 15 146 12 846 3 670 27 883 9 966 12 641 15 389 46 183 11 492 68 247
Purchases/ Sales/ additions disposals Currency Market price in the reporting period
14 952 783 10 313 15 178 1 993 5 810 5 747 28 510 2 275 17 144 10 023 4 692 2 838 5 475 20 334 8 055 9 010 23 203 5 175 2 945 11 017 27 361 9 546 8 513 7 670 9 304 12 363 4 654 6 429 2 153 226 548 7 093 5 882 3 963 1 474 4 083 10 446 3 041 15 588 15 278 22 018 31 601 14 621 10 261 3 181 6 289 4 474 9 652 6 314 11 501 23 477 15 098 4 333 8 853 3 169 13 246 7 875 33 835 11 923 3 444 3 368 8 167 3 666 9 288 15 731 3 266 5 987 2 886 44 581 4 407 6 037 665 15 443 4 136 3 902 8 855 13 115 7 007 4 938 14 865 3 685 38 753
759 1 096 7 284 20 337 2 800 8 117 7 044 7 651 3 182 23 952 1 172 6 555 7 190 5 234 1 641 11 914 6 558 3 734 7 230 4 124 14 249 38 328 6 828 11 906 10 670 8 301 1 519 6 502 9 032 3 011 326 705 9 919 8 219 5 542 2 065 5 705 14 594 4 253 4 576 21 402 5 361 13 839 16 514 2 863 4 444 6 052 6 251 5 568 8 830 8 991 137 8 101 5 311 5 166 4 427 4 448 10 453 6 968 11 650 4 816 4 732 11 411 4 758 13 011 7 055 2 451 8 373 4 036 542 5 553 8 456 929 297 5 778 232 12 419 3 149 5 684 6 905 20 768 5 154 25 642
USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD
69.28 242.11 63.04 24.8 34.12 53.73 63.38 85.78 88.33 21.965 144.02 75.86 62.06 90.22 51.47 110.15 62.8 66.44 54.51 72.46 34.5 5.79 40.67 30.96 41.35 60.92 117.01 87.72 17.37 83.99 583.95 724.49 33.28 75.76 53.15 115.76 97.05 33.92 80.92 128.73 9.59 88.24 30.82 20.98 105.02 111.77 71.74 121.23 51.29 34.22 37.94 47 61.54 97.28 58.6 79.36 73.17 63.97 32.54 42.14 74.43 31.79 38.31 120.72 18.52 40.55 125.61 41.24 59.82 29.77 80.76 27.91 253.63 79.26 93.58 125.59 34.26 103.64 80.68 56.96 27.095 69.68 10.76
Total market value in USD
983 291.04 593 895.83 1 385 304.00 1 121 580.00 215 467.80 969 826.50 1 088 234.60 1 789 285.02 626 878.01 1 169 943.76 1 274 721.02 1 105 887.08 423 249.20 1 180 979.80 962 128.71 238 915.35 1 185 726.80 1 293 520.36 876 302.76 668 298.58 1 093 305.00 496 776.21 670 526.29 821 740.32 981 070.10 1 136 828.12 1 268 856.44 1 268 431.20 353 635.83 563 740.88 456 064.95 1 138 898.28 735 920.64 1 384 817.04 656 668.25 535 042.72 1 231 467.45 1 100 704.00 767 283.44 1 417 574.76 459 466.49 1 469 813.68 1 471 685.82 772 441.64 776 937.96 1 104 511.14 1 101 424.22 1 684 975.77 876 187.07 673 483.82 1 073 208.78 1 096 980.00 1 350 495.30 1 148 876.80 962 739.40 781 219.84 725 553.72 1 486 726.77 874 252.18 1 174 231.10 799 303.77 339 231.09 972 039.63 1 277 217.60 539 395.00 1 067 843.70 790 212.51 769 950.80 538 140.72 1 311 041.03 1 016 041.56 528 168.84 525 014.10 1 200 471.96 1 202 128.68 460 915.30 955 271.58 1 032 876.24 1 019 875.88 876 557.44 1 251 328.39 800 762.56 734 337.72
% of net assets
0.45 0.27 0.64 0.52 0.10 0.45 0.50 0.83 0.29 0.54 0.59 0.51 0.20 0.55 0.45 0.11 0.55 0.60 0.41 0.31 0.51 0.23 0.31 0.38 0.45 0.53 0.59 0.59 0.16 0.26 0.21 0.53 0.34 0.64 0.30 0.25 0.57 0.51 0.35 0.66 0.21 0.68 0.68 0.36 0.36 0.51 0.51 0.78 0.41 0.31 0.50 0.51 0.62 0.53 0.45 0.36 0.34 0.69 0.40 0.54 0.37 0.16 0.45 0.59 0.25 0.49 0.37 0.36 0.25 0.61 0.47 0.24 0.24 0.56 0.56 0.21 0.44 0.48 0.47 0.41 0.58 0.37 0.34
15
DWS Concept Winton Global Equity Description
Count/ units/ currency
Quantity/ principal amount
Purchases/ Sales/ additions disposals Currency Market price in the reporting period
Total market value in USD
% of net assets
Symantec Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 32 140 10 305 14 413 USD 22.67 728 613.80 0.34 Target Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 17 851 5 750 8 032 USD 58.26 1 039 999.26 0.48 TE Connectivity Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 16 575 23 164 6 589 USD 61.94 1 026 655.50 0.48 Texas Instruments, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 8 928 9 621 693 USD 47.78 426 579.84 0.20 TJX Cos, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 14 144 4 535 6 342 USD 53.03 750 056.32 0.35 Torchmark Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 11 457 3 687 5 151 USD 82.08 940 390.56 0.44 Total System Services, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 31 637 10 181 14 225 USD 31.46 995 300.02 0.46 TripAdvisor, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 3 842 1 212 1 703 USD 109.22 419 623.24 0.19 Tyson Foods, Inc. -A- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 29 092 9 364 13 082 USD 37.26 1 083 967.92 0.50 United Parcel Service, Inc. -B- . . . . . . . . . . . . . . . . . . . . . . . . . Count 9 248 2 965 4 147 USD 102.51 948 012.48 0.44 UnitedHealth Group, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 13 352 8 713 6 004 USD 82.04 1 095 398.08 0.51 Valero Energy Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 16 694 5 373 7 507 USD 51.14 853 731.16 0.39 Verisign, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 18 966 14 036 4 502 USD 48.5 919 851.00 0.43 Viacom, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 14 224 5 589 6 396 USD 86.79 1 234 500.96 0.57 Walgreen Co. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 12 967 4 172 5 829 USD 74.13 961 243.71 0.44 Wellpoint, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 11 763 4 334 5 044 USD 108.96 1 281 696.48 0.59 Western Digital Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 10 140 3 252 4 548 USD 92.57 938 659.80 0.43 Wyndham Worldwide Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 8 022 2 573 3 599 USD 75.31 604 136.82 0.28 Wynn Resorts Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 2 820 906 1 267 USD 206.22 581 540.40 0.27 Xerox Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 77 760 24 940 34 878 USD 12.53 974 332.80 0.45 Xilinx, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 22 851 12 447 6 471 USD 47.22 1 079 024.22 0.50 Investment fund units 6 076 818.10 2.81 In-group fund units db x-trackers MSCI Korea TRN Index UCITS ETF (0.450%) . . Units 47 300 47 300 USD 65.31 3 089 163.00 1.43 db x-trackers MSCI Taiwan Index UCITS ETF (0.450%) . . . . . Units 76 080 134 620 58 540 USD 22.16 1 685 932.80 0.78 Non-group fund units SOURCE S&P 500 UCITS ETF (0.200%) . . . . . . . . . . . . . . . . . Units 4 009 4 009 USD 324.7 1 301 722.30 0.60 Total securities portfolio 214 076 839.09 99.09 Cash at bank 3 454 744.29 1.60 Demand deposits at Custodian EUR deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 81 702 111 641.13 0.05 Deposits in other EU/EEA currencies British pound . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . GBP 6 143 10 475.51 0.01 Danish krone . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DKK 1 097 201.06 0.00 Norwegian krone . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NOK 1 195 194.33 0.00 Swedish krona . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SEK 1 346 200.76 0.00 Deposits in non-EU/EEA currencies Australian dollar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . AUD 260 244.65 0.00 Hong Kong dollar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . HKD 103 385 13 339.06 0.01 Japanese yen . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . JPY 15 327 751 151 138.89 0.07 Canadian dollar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CAD 4 787 4 482.34 0.00 Swiss franc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHF 179 201.55 0.00 Singapore dollar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SGD 1 150 921.35 0.00 U.S. dollar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . USD 3 161 703.66 1.46 Other assets 3 765 780.42 1.74 Dividends receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 340 418.20 0.16 Other receivables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 425 362.22 1.58 Receivables from share certificate transactions 78 167.40 0.04 Total assets 221 375 531.20 102.47 Other liabilities -2 307 688.95 -1.07 Additional other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -2 307 688.95 -1.07 Liabilities from share certificate transactions -3 034 247.49 -1.40 Total liabilities -5 341 936.44 -2.47 Net assets 216 033 594.76 100.00 Negligible rounding errors may have arisen due to the rounding of calculated percentages.
16
DWS Concept Winton Global Equity Net asset value per share and number of shares outstanding
Count/ currency
Net asset value per share in the respective currency
Net asset value per share Class FC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 141.07 Class FD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 137.73 Class LC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 137.54 Class LD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 137.09 Class NC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 138.04 Class ND . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 136.60 Class DS3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . GBP 130.43 Class A2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . USD 141.67 Class E2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . USD 144.29 Number of shares outstanding Class FC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 1 112 572 Class FD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 200 Class LC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 5 506 Class LD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 432 Class NC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 651 Class ND . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 212 Class DS3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 201 Class A2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 1 291 Class E2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 200 Composition of the reference portfolio (according to CSSF circular 11/512) MSCI THE WORLD INDEX Constituents USD Market risk exposure (value-at-risk) (according to CSSF circular 11/512) Lowest market risk exposure . . . . . . . . . . . . . . . . . . . . . . . . . . % 92.559 Highest market risk exposure . . . . . . . . . . . . . . . . . . . . . . . . . % 108.745 Average market risk exposure . . . . . . . . . . . . . . . . . . . . . . . . . % 100.097 The values-at-risk were calculated for the period from January 1, 2014, through June 30, 2014, using historical simulation with a 99% confidence level, a 10-day holding period and an effective historical observation period of one year. The risk in a reference portfolio that does not contain derivatives is used as the measurement benchmark. Market risk is the risk to the fund’s assets arising from an unfavorable change in market prices. The Company determines the potential market risk by means of the relative value-at-risk approach as defined in CSSF circular 11/512. In the reporting period, the average leverage effect from the use of derivatives was 0.0, whereby the total of the nominal amounts of the derivatives in relation to the fund’s assets was used for the calculation (sum-of-notional approach). The gross exposure generated via derivatives pursuant to point 40 a) of the “Guidelines on ETFs and other UCITS issues” of the European Securities and Markets Authority (ESMA) totaled EUR 0.00 as of the reporting date. Exchange rates (indirect quotes) As of June 30, 2014 Australian dollar . . . . . . . . . . . . . . . . . AUD 1.063717 = USD 1 Canadian dollar . . . . . . . . . . . . . . . . . . CAD 1.067950 = USD 1 Swiss franc . . . . . . . . . . . . . . . . . . . . . CHF 0.889350 = USD 1 Danish krone. . . . . . . . . . . . . . . . . . . . DKK 5.456100 = USD 1 Euro . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 0.731823 = USD 1 British pound . . . . . . . . . . . . . . . . . . . GBP 0.586441 = USD 1 Hong Kong dollar . . . . . . . . . . . . . . . . HKD 7.750550 = USD 1 Japanese yen . . . . . . . . . . . . . . . . . . . JPY 101.415000 = USD 1 Norwegian krone . . . . . . . . . . . . . . . . NOK 6.147100 = USD 1 Swedish krona . . . . . . . . . . . . . . . . . . SEK 6.706600 = USD 1 Singapore dollar . . . . . . . . . . . . . . . . . SGD 1.247850 = USD 1 Notes on valuation Under the responsibility of the Board of Directors of the SICAV, the Management Company determines the net asset values per share and performs the valuation of the assets of the fund. The basic provision of price data and price validation are performed in accordance with the method introduced by the Board of Directors of the SICAV on the basis of the legal and regulatory requirements or the principles for valuation methods defined in the SICAV’s prospectus. If no trading prices are available, prices are determined with the aid of valuation models (derived market values) which are agreed between State Street Bank Luxembourg as external price service provider and the Management Company and which are based as far as possible on market parameters. This procedure is subject to an ongoing monitoring process. The plausibility of price information from third parties is checked through other pricing sources, model calculations or other suitable procedure. Assets reported in this report are not valued at derived market values. The management fee / all-in fee rates in effect as of the reporting date for the investment fund units held in the securities portfolio are shown in parentheses. A plus sign means that a performance-based fee may also be charged. As the investment fund held units of other investment funds (target funds), further costs, charges and fees may have been incurred at the level of these individual target funds. No initial sales charges or redemption fees were paid during the period under review.
17
DWS Concept Winton Global Equity Transactions completed during the reporting period that no longer appear in the investment portfolio: Purchases and sales of securities, investment fund units and promissory note loans (Schuldscheindarlehen); market classifications are as of the reporting date
Count/ Count/ Purchases/ Sales/ Purchases/ Sales/ Description units/ Description units/ additions disposals additions disposals currency currency
Securities traded on an exchange Equities Abercrombie & Fitch Co. . . . . . . . . . . . . . . . . . . . Count 1 395 Ajinomoto Co., Inc. . . . . . . . . . . . . . . . . . . . . . . . . Count 2 000 All Nippon Airways Co., Ltd . . . . . . . . . . . . . . . . . Count 35 000 Amerisourcebergen Corp. . . . . . . . . . . . . . . . . . . Count 1 715 Asahi Glass Co., Ltd . . . . . . . . . . . . . . . . . . . . . . . Count 15 000 ASML Holding NV . . . . . . . . . . . . . . . . . . . . . . . . Count 576 Babcock International Group Plc -Rights Exp 06May14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 11 782 BAE Systems Plc . . . . . . . . . . . . . . . . . . . . . . . . . Count 30 715 Baxter International, Inc. . . . . . . . . . . . . . . . . . . . Count 888 BCE, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 1 684 Bemis Co., Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 6 575 Best Buy Co., Inc. . . . . . . . . . . . . . . . . . . . . . . . . Count 26 261 BlackBerry Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 3 530 Blackhawk Network Holdings, Inc. . . . . . . . . . . . Count 4 930 Boliden AB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 6 991 Cablevision Systems Corp. . . . . . . . . . . . . . . . . . Count 2 368 Cabot Oil & Gas Corp. . . . . . . . . . . . . . . . . . . . . . Count 937 Campbell Soup Co. . . . . . . . . . . . . . . . . . . . . . . . . Count 1 178 Canadian Oil Sands Ltd . . . . . . . . . . . . . . . . . . . . Count 5 820 Carnival Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 1 907 Celgene Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 1 054 CenturyLink, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . Count 4 093 Cerner Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 329 CFS Retail Property Trust . . . . . . . . . . . . . . . . . . . Count Chevron Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 1 679 Chubb Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 1 198 Cie Financiere Richemont SA . . . . . . . . . . . . . . . Count 1 036 CLP Holdings Ltd . . . . . . . . . . . . . . . . . . . . . . . . . Count 7 000 CME Group, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . Count 2 523 ConAgra Foods, Inc. . . . . . . . . . . . . . . . . . . . . . . . Count Dassault Systemes SA . . . . . . . . . . . . . . . . . . . . . Count 291 Diamond Offshore Drilling, Inc. . . . . . . . . . . . . . . Count 1 694 Distribuidora Internacional de Alimentacion SA . . Count 12 648 eBay, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 899 Electrolux AB . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 2 358 Electronic Arts, Inc. . . . . . . . . . . . . . . . . . . . . . . . Count 1 387 Expedia, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 59 Experian Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count Express Scripts Holding Co. . . . . . . . . . . . . . . . . . Count 1 061 General Mills, Inc. . . . . . . . . . . . . . . . . . . . . . . . . Count 7 517 Google, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 841 Husky Energy, Inc. . . . . . . . . . . . . . . . . . . . . . . . . Count 3 138 Iluka Resources Ltd . . . . . . . . . . . . . . . . . . . . . . . Count 5 173 IMI Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 2 759 InterContinental Hotels Group . . . . . . . . . . . . . . Count 6 545 Intuitive Surgical, Inc. . . . . . . . . . . . . . . . . . . . . . . Count 33 Invensys Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count Invesco Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 1 915 Japan Tobacco, Inc. . . . . . . . . . . . . . . . . . . . . . . . Count 3 600 JDS Uniphase Corp. . . . . . . . . . . . . . . . . . . . . . . . Count 356 Kao Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count Knowles Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 6 732 Koninklijke Ahold NV . . . . . . . . . . . . . . . . . . . . . . Count 13 743 Koninklijke DSM NV . . . . . . . . . . . . . . . . . . . . . . . Count 1 663 Koninklijke Philips Electronics NV . . . . . . . . . . . . Count 4 137 Kroger Co. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 28 017 Kyocera Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 3 100
18
21 39 195 12 77 4
398 000 000 351 000 131
11 170 12 11 30 33 53 4 35 20 8 21 33 16 4 24 1 131 8 6 4 89 11 26 4 10 58 7 16 11 2
782 130 173 884 358 752 963 930 493 867 262 846 520 512 785 366 914 795 664 218 793 000 388 598 731 387 478 709 132 623 099 306 733 972 841 838 109 615 848 654 746 567 800 755 900 732 403 683 809 017 700
8 37 22 28 24 25 29 16 15 12 4 6 70 7 16 28 11
L Brands, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 2 129 Lawson, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 2 100 Loblaw Cos Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . Count 1 906 M&T Bank Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . Count 945 Marui Group Co., Ltd . . . . . . . . . . . . . . . . . . . . . . Count 9 500 Metro AG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 1 006 Millicom International Cellular SA -SDR- . . . . . . . Count 1 517 National Bank of Greece -ADR- . . . . . . . . . . . . . . Count NEC Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 19 000 Nobel Biocare Holding AG . . . . . . . . . . . . . . . . . . Count 7 923 Novo Nordisk A/S . . . . . . . . . . . . . . . . . . . . . . . . . Count 17 003 Novo Nordisk A/S -B- . . . . . . . . . . . . . . . . . . . . . . Count 96 Novozymes A/S . . . . . . . . . . . . . . . . . . . . . . . . . . Count 1 818 Orora Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count Oversea-Chinese Banking Corp., Ltd . . . . . . . . . . Count 14 000 Pearson Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 8 014 Persimmon . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 23 329 Procter & Gamble Co. . . . . . . . . . . . . . . . . . . . . . Count 2 528 Public Service Enterprise Group . . . . . . . . . . . . . . Count 3 611 Public Storage, Inc. . . . . . . . . . . . . . . . . . . . . . . . Count 697 QBE Insurance Group Ltd . . . . . . . . . . . . . . . . . . Count 3 933 Quest Diagnostics, Inc. . . . . . . . . . . . . . . . . . . . . Count 1 996 Ralph Lauren Corp. . . . . . . . . . . . . . . . . . . . . . . . . Count 92 Repsol YPF SA . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 15 937 Rexam Plc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 9 543 Rexam Plc 2014/2014 . . . . . . . . . . . . . . . . . . . . . Count 2 472 Royal & Sun Alliance Insurance Group . . . . . . . . . Count 59 142 RSA Insurance Group Plc -Rights Exp 09Apr14 . . Count 122 116 Ryanair Holdings Plc . . . . . . . . . . . . . . . . . . . . . . . Count 11 671 Sage Group Plc . . . . . . . . . . . . . . . . . . . . . . . . . . Count 3 273 Schneider Electric SA . . . . . . . . . . . . . . . . . . . . . . Count 772 Schneider Electric SA . . . . . . . . . . . . . . . . . . . . . . Count 772 Serco Group Plc . . . . . . . . . . . . . . . . . . . . . . . . . . Count 12 051 Starbucks Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . Count 1 287 Suncorp Group Ltd . . . . . . . . . . . . . . . . . . . . . . . . Count 13 057 Suzuki Motor Corp. . . . . . . . . . . . . . . . . . . . . . . . Count 800 Swedish Match AB . . . . . . . . . . . . . . . . . . . . . . . Count 290 Swire Pacific Ltd -A- . . . . . . . . . . . . . . . . . . . . . . . Count 11 500 Sydney Airport . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 25 183 SYSCO Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 1 028 Tele2 AB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 9 881 Tim Hortons, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . Count 2 590 Tokyo Electric Power Co., Inc. . . . . . . . . . . . . . . . Count 6 500 Twenty-First Century Fox, Inc. . . . . . . . . . . . . . . Count 3 103 Unilever NV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count 926 Urban Outfitters, Inc. . . . . . . . . . . . . . . . . . . . . . . Count 934 Verizon Communications, Inc. . . . . . . . . . . . . . . . Count 5 940 Vodafone Group Plc . . . . . . . . . . . . . . . . . . . . . . . Count 29 035 Wal-Mart Stores, Inc. . . . . . . . . . . . . . . . . . . . . . . Count 2 703 Waste Management, Inc. . . . . . . . . . . . . . . . . . . . Count 4 189 Western Union Co. . . . . . . . . . . . . . . . . . . . . . . . . Count 4 221 Whole Foods Market, Inc. . . . . . . . . . . . . . . . . . . Count 1 377 WW Grainger, Inc. . . . . . . . . . . . . . . . . . . . . . . . . Count 527 Yahoo! Japan Corp. . . . . . . . . . . . . . . . . . . . . . . . Count 13 500 Yamada Denki Co., Ltd . . . . . . . . . . . . . . . . . . . . . Count 7 400 Investment fund units In-group fund units db x-trackers - MSCI World TRN Index ETF (0.350%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Units 34 540
11 9 15 7 38 10 6
046 900 206 151 700 209 839
137 32 17 3 13 50 54 37 23 13 28 5 25 13 3 49 65 2 400 122 94 113
000 192 003 342 524 219 000 053 329 808 163 384 995 031 296 836 261 472 851 116 400 909 772 772 224 403 798 300 820 000 180 560 772 590 800 133 326 063 940 198 669 618 762 011 742 300 000
73 8 54 17 10 64 129 23 43 13 29 23 20 10 5 249 14 21 31 10 2 87 64
138 534
DWS Concept SICAV – June 30, 2014 Statement of net assets as of June 30, 2014 DWS Concept SICAV EUR Consolidated
DWS Concept Kaldemorgen EUR
DWS Concept Winton Global Equity USD
% of net assets
Assets Total securities portfolio
659 024 397.08
61.44
502 358 084.79
Cash at bank
407 751 743.25
38.03
405 223 482.60
3 454 744.29
Other assets
14 717 600.06
1.37
11 961 716.08
3 765 780.42
Receivables from share certificate transactions
214 076 839.09
6 155 069.67
0.57
6 097 864.98
78 167.40
1 087 648 810.06
101.41
925 641 148.45
221 375 531.20
Equity index derivatives
-621 514.77
-0.06
-621 514.77
0.00
Interest rate derivatives
-517 109.33
-0.05
-517 109.33
0.00
Currency derivatives
-625 726.97
-0.06
-625 726.97
0.00
-10 937 792.82
-1.02
-9 248 973.42
-2 307 688.95
= Total assets Liabilities
Other liabilities Liabilities from share certificate transactions Net assets
-2 391 835.30
-0.22
-171 303.80
-3 034 247.49
-15 093 979.19
-1.41
-11 184 628.29
-5 341 936.44
1 072 554 830.87
100.00
914 456 520.16
216 033 594.76
19
Investment Company
Board of Directors
Management Company Management
of the Management Company Klaus-Michael Vogel
DWS Concept SICAV 2, Boulevard Konrad Adenauer
Holger Naumann
Executive Member of the Board of Directors
L -1115 Luxembourg
Chairman
of DWS Investment S.A., Luxembourg
RC B 160 062
Managing Director of Deutsche Asset & Wealth
Member of the Management Board of
Management Investment GmbH,
Deutsche Bank Luxembourg S.A.,
Board of Directors
Frankfurt/Main
Luxembourg
of the Investment Company
Managing Director of DWS Holding & Service GmbH,
Manfred Bauer
Doris Marx
Frankfurt/Main
DWS Investment S.A., Luxembourg
Chairwoman
Managing Director of
DWS Investment S.A., Luxembourg
RREEF Spezial Invest GmbH,
Markus Kohlenbach
Frankfurt/Main
DWS Investment S.A., Luxembourg
Manfred Bauer
Chairman of the Board of Directors of
DWS Investment S.A., Luxembourg
Oppenheim Asset Management
Doris Marx
Services S.à.r.l., Luxembourg
DWS Investment S.A., Luxembourg
Heinz-Wilhelm Fesser
Ralf Rauch
Luxembourg
DWS Investment S.A., Luxembourg
Deutsche Asset & Wealth Management
Marzio Hug
Martin Schönefeld
International GmbH,
Deutsche Bank AG, London
DWS Investment S.A., Luxembourg
Dr. Boris N. Liedtke
Auditor
Markus Kohlenbach DWS Investment S.A., Luxembourg Stephan Scholl
Frankfurt/Main Promoter, Management Company
Chairman of the Management Board of
and Transfer Agent
Deutsche Bank Luxembourg S.A., Luxembourg
DWS Investment S.A.
Dr. Matthias Liermann
2, Boulevard Konrad Adenauer
Deutsche Asset & Wealth Management
L -1115 Luxembourg
Investment GmbH,
Custodian, Administrator and
Equity capital as of December 31, 2013:
Frankfurt/Main
Sub-Transfer Agent
Klaus-Michael Vogel
State Street Bank Luxembourg S.A.
Executive Member of the Board of Directors
49, Avenue J. F. Kennedy
of DWS Investment S.A., Luxembourg
L -1855 Luxembourg
KPMG Luxembourg S.à r.l. 9, Allée Scheffer L -2520 Luxembourg
EUR 221.5 million
Member of the Management Board of Deutsche Bank Luxembourg S.A.,
Fund Manager
Luxembourg For the sub-fund Dr. Asoka Wöhrmann
DWS Concept Kaldemorgen
Managing Director of Deutsche Asset & Wealth
Deutsche Asset & Wealth Management
Management Investment GmbH,
Investment GmbH
Frankfurt/Main
Mainzer Landstraße 178-190
Managing Director of
D-60327 Frankfurt/Main
DWS Holding & Service GmbH, Frankfurt/Main
For the sub-fund DWS Concept Winton Global Equity
Wolfgang Matis (until June 30, 2014)
Winton Capital Management Limited
Deutsche Asset & Wealth Management
1-5 St. Mary Abbot‘s Place
Investment GmbH, Frankfurt/Main
London W8 6LS United Kingdom Sales, Information and Paying Agent Luxembourg Deutsche Bank Luxembourg S.A. 2, Boulevard Konrad Adenauer L -1115 Luxembourg
As of: July 31, 2014
DWS Concept SICAV 2, Boulevard Konrad Adenauer L-1115 Luxembourg RC B 160 062 Tel.: +352 4 21 01-1 Fax: +352 4 21 01-9 00
