DWS Emerging Sovereign Bond Fund USD (AUD) - Semiannual Report 2018
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Deutsche Asset Management S.A. DWS Emerging Sovereign Bond Fund USD (AUD) Semiannual Report 2018 Investment Fund Organized under Luxembourg Law
DWS Emerging Sovereign Bond Fund USD (AUD)
Contents
Semiannual report 2018
for the period from January 1, 2018, through June 30, 2018
General information .................................................................................................... 2
Semiannual report
DWS Emerging Sovereign Bond Fund USD (AUD) ..................................................... 4
Semiannual financial statements ................................................................................ 6
1General information
The fund described in this within the scope of investment Issue and redemption prices
report is an investment fund accounts at Deutsche Asset The current issue and redemp-
(fonds commun de place- Management S.A., are used tion prices and all other infor-
ment) in accordance with as the basis for calculating the mation for unitholders may be
Part II of the Luxembourg value. Past performance is not requested at any time at the
Law of December 17, 2010, a guide to future results. The registered office of the Man-
on undertakings for collec- corresponding benchmark – if agement Company and from
tive investment, as amended, available – is also presented the paying agents. In addition,
and is considered to be in the report. All financial data the issue and redemption
an alternative investment in this publication is as of prices are published in every
fund (“AIF”) in accordance June 30, 2018 (unless other- country of distribution through
with the amended Law of wise stated). appropriate media (such as the
July 12, 2013, on alternative Internet, electronic information
investment fund managers. Sales prospectuses systems, newspapers, etc.).
Fund units are purchased on
Performance the basis of the current sales
The investment return, or per- prospectus and management
formance, of a mutual fund regulations, as well as the key
investment is measured by the investor information document,
change in value of the fund’s in combination with the latest
units. The net asset values per audited annual report and any
unit (= redemption prices) with semiannual report that is more
the addition of intervening dis- recent than the latest annual
tributions, which are, for exam- report.
ple, reinvested free of charge
2Semiannual report
DWS Emerging Sovereign Bond Fund USD (AUD)
DWS Emerging Sovereign Bond Fund USD (AUD)
Performance at a glance
ISIN 6 months
LU0758196686 -10.9%
“BVI method” performance, i.e., excluding the initial sales charge. Past performance is no guide to future results.
As of: June 30, 2018
Data on U.S. dollar basis
4dates
o mplete
d fo r c invest-
mat use riptions in the r”.
The for c
rities d e s nth/y a
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in secu li o is “ day/mo
ortfo
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Semiannual
financial statementsDWS Emerging Sovereign Bond Fund USD (AUD)
Investment portfolio – June 30, 2018
Count/ Quantity/ Purchases/ Sales/ Total market % of
Description currency principal additions disposals Market price value in net assets
(– / ’000) amount in the reporting period USD
Investment fund units 4 186 250.00 99.52
In-group fund units 4 186 250.00 99.52
DWS Emerging Sovereign Bond Master Fund USD
(AUD) (LU0758194046) (0.400%). . . . . . . . . . . . . . . . . . . Count 42 500 3 000 USD 98.5000 4 186 250.00 99.52
Total securities portfolio 4 186 250.00 99.52
Cash at bank 24 070.19 0.57
Demand deposits at Depositary
USD deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . USD 21 458.24 % 100 21 458.24 0.51
Deposits in EU/EEA currencies. . . . . . . . . . . . . . . . . . . . . USD 1 553.41 % 100 1 553.41 0.03
Deposits in non-USD currency
Japanese yen . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . JPY 117 216.00 % 100 1 058.54 0.03
Other assets 50.71 0.00
Interest receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . USD 50.71 % 100 50.71 0.00
Total assets 1 4 210 370.90 100.09
Other liabilities -3 827.23 -0.09
Liabilities from cost items. . . . . . . . . . . . . . . . . . . . . . . . . USD -3 823.56 % 100 -3 823.56 -0.09
Additional other liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . USD -3.67 % 100 -3.67 0.00
Net assets 4 206 543.67 100.00
Net asset value per unit 50.96
Number of units outstanding 82 547.000
Negligible rounding errors may have arisen due to the rounding of calculated percentages.
Exchange rates (indirect quotes)
As of June 29, 2018
Japanese yen . . . . . . . . . . . . . . . . . . . JPY 110.733906 = USD 1
Notes on valuation
The Management Company determines the net asset values per unit 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 Management Company on the basis of the legal and regulatory requirements or the principles for valuation methods defined
in the fund 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.
Investments 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 fund held units of other investment funds (target funds) in the reporting period, further costs, charges and fees may have been
incurred at the level of these individual target funds.
Footnotes
1 Does not include positions with a negative balance, if such exist.
6DWS Emerging Sovereign Bond Fund USD (AUD)
Transactions completed during the reporting period that no longer appear in the investment portfolio
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
Currency futures
Futures contracts to purchase currencies
USD/JPY USD 18
7DWS Emerging Sovereign Bond Fund USD (AUD)
Interim distribution(s) in the reporting period
Type As of Currency Per unit
Interim distribution January 22, 2018 USD 0.20
Interim distribution February 20, 2018 USD 0.20
Interim distribution March 20, 2018 USD 0.20
Interim distribution April 20, 2018 USD 0.20
Interim distribution May 22, 2018 USD 0.20
Interim distribution June 20, 2018 USD 0.20
8DWS Emerging Sovereign Bond Fund USD (AUD)
Information pursuant to Regulation (EU) 2015/2365 on transparency of securities financing
transactions (SFTs) and of reuse and amending Regulation (EU) No. 648/2012 –
Statement in accordance with Section A
There were no securities financing transactions according to the above Regulation in the reporting period.
9Management Company, Alternative Management Board of the AIFM Auditor
Investment Fund Manager (AIFM),
Central Administration Agent, Transfer Agent, Manfred Bauer KPMG Luxembourg
Registrar and Main Distributor Chairman Société coopérative
Deutsche Asset Management S.A., 39, Avenue John F. Kennedy
Deutsche Asset Management S.A. Luxembourg 1855 Luxembourg, Luxembourg
2, Boulevard Konrad Adenauer
1115 Luxembourg, Luxembourg Nathalie Bausch (since February 1, 2018) Depositary
Equity capital as of December 31, 2017: Deutsche Asset Management S.A.,
EUR 285.7 million before profit appropriation Luxembourg State Street Bank Luxembourg S.C.A.
49, Avenue John F. Kennedy
Supervisory Board of the AIFM Ralf Rauch (until April 30, 2018) 1855 Luxembourg, Luxembourg
Deutsche Asset Management
Holger Naumann Investment GmbH, Sub-Transfer Agent
Chairman Frankfurt/Main
Deutsche Asset Management State Street Bank International GmbH
Investment GmbH, Barbara Schots Brienner Straße 59
Frankfurt/Main Deutsche Asset Management S.A., 80333 München, Germany
Luxembourg
Nathalie Bausch (until January 31, 2018) Portfolio Manager
Deutsche Bank Luxembourg S.A.,
Luxembourg Deutsche Asset Management
Investment GmbH
Yves Dermaux (until June 5, 2018) Mainzer Landstraße 11-17
Deutsche Bank AG, 60329 Frankfurt/Main, Germany
London
Sales, Information and Paying Agent
Stefan Kreuzkamp
Deutsche Asset Management Luxembourg
Investment GmbH, Deutsche Bank Luxembourg S.A.
Frankfurt/Main 2, Boulevard Konrad Adenauer
1115 Luxembourg, Luxembourg
Frank Krings
Deutsche Bank Luxembourg S.A.,
Luxembourg
Dr. Matthias Liermann
Deutsche Asset Management
Investment GmbH,
Frankfurt/Main
As of: July 31, 2018Deutsche Asset Management S.A. 2, Boulevard Konrad Adenauer 1115 Luxembourg, Luxembourg Tel.: +352 4 21 01-1 Fax: +352 4 21 01-9 00
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