R.C.S. Luxembourg B-104.413
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R.C.S. Luxembourg B-104.413 Unaudited Semi-Annual Report as at 31 July 2016 No subscription can be accepted on the basis of the financial reports. Subscriptions are only valid if they are made on the basis of the latest published prospectus accompanied by the latest annual report and the most recent semi-annual report, if published thereafter. DB Platinum Table of contents Page Management and Administration 3 Statement of Net Assets 6 Key Figures as at 31 July 2016 11 Statement of Operations and Changes in Net Assets 15 Statistics 20 Statement of Investments DB Platinum Commodity Euro 29 DB Platinum CROCI Branchen Stars 30 DB Platinum Commodity USD 32 DB Platinum CROCI World 33 DB Platinum PWM CROCI Multi Fund 37 DB Platinum CROCI Sectors Fund 38 DB Platinum CROCI UK 40 DB Platinum CROCI Global Dividends 42 DB Platinum TT International 45 DB Platinum CROCI US Dividends 49 DB Platinum Chilton Diversified 51 DB Platinum Ivory Optimal 53 DB Platinum CROCI World ESG 57 DB Platinum Chilton European Equities 61 DB Platinum MCP Terra Grove Pan Asia 63 DB Platinum MidOcean Absolute Return Credit 64 Notes to the Financial Statements 67 Information to Shareholders 174 DB Platinum Management and Administration Registered Office DB Platinum 11-13, boulevard de la Foire L-1528 Luxembourg Grand-Duchy of Luxembourg Board of Directors - Werner Burg (chairman of the Board of Directors), Member of the Management Board, Deutsche Bank Luxembourg S.A., 2, boulevard Konrad Adenauer, L-1115 Luxembourg, Grand-Duchy of Luxembourg - Klaus-Michael Vogel, Independent Director, c/o Deutsche Asset Management S.A., 2, boulevard Konrad Adenauer, L-1115 Luxembourg, Grand-Duchy of Luxembourg - Freddy Brausch, Independent Director, c/o Linklaters LLP, 35, avenue John F. Kennedy, L-1855 Luxembourg, Grand-Duchy of Luxembourg - Alexander McKenna, Head of Product Platform Passive Europe & Asia, Deutsche Bank AG, London Branch, Winchester House, 1 Great Winchester Street, London EC2N 2DB, United Kingdom - Ben O’Bryan, Head of Alternative UCITS Global Product Platform, Deutsche Bank AG, London Branch, Winchester House, 1 Great Winchester Street, London EC2N 2DB, United Kingdom - Philippe Ah-Sun, Chief Operating Officer of Exchange Traded Funds (ETF) and Systematic UCITS, Deutsche Bank AG, London Branch, Winchester House, 1 Great Winchester Street, London EC2N 2DB, United Kingdom Depositary RBC Investor Services Bank S.A. 14, Porte de France L-4360 Esch-sur-Alzette Grand-Duchy of Luxembourg Administrative Agent, Paying Agent, Domiciliary Agent and Listing Agent RBC Investor Services Bank S.A. 14, Porte de France L-4360 Esch-sur-Alzette Grand-Duchy of Luxembourg Registrar and Transfer Agent RBC Investor Services Bank S.A. 14, Porte de France L-4360 Esch-sur-Alzette Grand-Duchy of Luxembourg Management Company Deutsche Asset Management S.A. (previously known as Deutsche Asset & Wealth Management S.A.) 2, boulevard Konrad Adenauer L-1115 Luxembourg Grand-Duchy of Luxembourg Distributor Deutsche Bank AG, acting through its London branch Winchester House 1 Great Winchester Street London EC2N 2DB United Kingdom 3 DB Platinum Management and Administration (continued) Investment Managers 1 State Street Global Advisors Limited 20 Churchill Place, Canary Wharf London E14 5HJ United Kingdom Omega Advisors Inc. 88 Pine Street Wall Street Plaza 31st Floor New York, NY 10005 United States of America (until 31 March 2016) TT International Moor House, Level 13 120 London Wall London EC2Y 5ET United Kingdom Chilton Investment Company, LLC 1290 East Main Street 1st Floor Stamford, CT 06902 United States of America Ivory Investment Management, L.P. 11755 Wilshire Boulevard Suite 1350 Los Angeles, CA 90025 United States of America MCP Asset Management Company Limited Suite 1918 Two Pacific Place 88 Queensway Hong Kong MidOcean Credit Fund Management, L.P. 320 Park Avenue Suite 1600 New York United States of America Sub-Investment Manager 1 Chilton Investment Company Limited 5th Floor 6 St Andrew Street London EC4A 3AE United Kingdom 1 In relation to certain Sub-Funds only, as further detailed in this report. 4 DB Platinum Management and Administration (continued) Independent Auditor of the Company Ernst & Young S.A. 35E, avenue John F. Kennedy, L-1855 Luxembourg Grand-Duchy of Luxembourg Legal Adviser of the Company Linklaters LLP 35, avenue John F. Kennedy, L-1855 Luxembourg Grand-Duchy of Luxembourg Capitalised terms used herein shall have the same meaning as in the current Prospectus. 5 DB Platinum Statement of Net Assets as at 31 July 2016 DB Platinum DB Platinum DB Platinum DB Platinum Commodity Euro CROCI Branchen Commodity USD CROCI World Stars Note EUR EUR USD EUR ASSETS Investment portfolio at market value 79,866,142 43,322,901 37,163,807 123,952,775 Options (long position) at market value 0 0 0 0 Cash at bank 145,572 185,800 18,010 440,565 Amounts receivable on sale of investments 0 362,101 502,667 0 Amounts receivable on subscriptions 72,699 0 6,459,033 12,711 Interest and dividends receivable 482,775 6 119,229 50,744 Interest receivable on CFD 0 0 0 0 Net unrealised gain on forward foreign (13) exchange contracts 0 68,905 177,749 0 Net unrealised gain on futures (14) 0 4,571 0 13,713 Net unrealised gain on CFD (9) 0 0 0 0 Other assets 0 4,761 0 67,130 TOTAL ASSETS 80,567,188 43,949,045 44,440,495 124,537,638 LIABILITIES Options (short position) at market (15) value 0 0 0 0 Bank overdraft 0 4,569 181,214 13,706 Amounts payable on purchase of investments 0 0 0 0 Amounts payable on redemptions 203,886 202,245 6,152,062 0 Payable due to swap counterparty (6,7,8) 0 0 0 0 Interest payable 155 58 173 45 Interest payable on CFD 0 0 0 0 Net unrealised loss on forward foreign (13) exchange contracts 0 0 0 0 Net unrealised loss on futures (14) 0 0 0 0 Unrealised loss on swaps (6,7,8) 5,897,538 0 2,586,536 0 Net unrealised loss on CFD (9) 0 0 0 0 Management fee payable (4) 71,872 40,671 32,557 77,177 Performance fee payable (16) 0 0 0 0 Taxes and expenses payable 21,590 13,064 9,958 30,068 Other liabilities 0 0 0 0 TOTAL LIABILITIES 6,195,041 260,607 8,962,500 120,996 TOTAL NET ASSETS 74,372,147 43,688,438 35,477,995 124,416,642 The accompanying notes form an integral part of these financial statements. 6 DB Platinum Statement of Net Assets (continued) as at 31 July 2016 DB Platinum DB Platinum DB Platinum DB Platinum PWM CROCI Multi CROCI Sectors CROCI UK CROCI Global Fund Fund Dividends Note EUR EUR GBP USD ASSETS Investment portfolio at market value 129,449,785 560,669,122 4,091,333 274,681,539 Options (long position) at market value 0 0 0 0 Cash at bank 4,128,311 1,291,947 56,901 393,562 Amounts receivable on sale of investments 0 0 0 0 Amounts receivable on subscriptions 0 265,280 0 502,128 Interest and dividends receivable 291 323,100 20,272 305,831 Interest receivable on CFD 0 0 0 0 Net unrealised gain on forward foreign (13) exchange contracts 0 0 0 0 Net unrealised gain on futures (14) 0 49,958 7,659 0 Net unrealised gain on CFD (9) 0 0 0 0 Other assets 0 351,605 333 210,063 TOTAL ASSETS 133,578,387 562,951,012 4,176,498 276,093,123 LIABILITIES Options (short position) at market (15) value 0 0 0 0 Bank overdraft 0 49,949 7,659 0 Amounts payable on purchase of investments 0 0 0 0 Amounts payable on redemptions 0 388,238 0 130,596 Payable due to swap counterparty (6,7,8) 0 0 0 0 Interest payable 938 541 1 227 Interest payable on CFD 0 0 0 0 Net unrealised loss on forward foreign (13) exchange contracts 0 204,096 0 0 Net unrealised loss on futures (14) 0 0 0 0 Unrealised loss on swaps (6,7,8) 0 0 0 0 Net unrealised loss on CFD (9) 0 0 0 0 Management fee payable (4) 118,674 344,162 1,606 203,961 Performance fee payable (16) 0 0 0 0 Taxes and expenses payable 52,686 141,497 1,026 71,595 Other liabilities 0 804 0 0 TOTAL LIABILITIES 172,298 1,129,287 10,292 406,379 TOTAL NET ASSETS 133,406,089 561,821,725 4,166,206 275,686,744 The accompanying notes form an integral part of these financial statements. 7 DB Platinum Statement of Net Assets (continued) as at 31 July 2016 DB Platinum DB Platinum DB Platinum DB Platinum TT International CROCI US Chilton Diversified Ivory Optimal Dividends Note USD USD USD USD ASSETS Investment portfolio at market value 2,877,644 133,440,036 114,382,764 207,423,435 Options (long position) at market value 14,565 0 0 780,498 Cash at bank 3,996,585 55,417 27,585,139 24,247,896 Amounts receivable on sale of investments 0 100,402 2,683,896 16,309,213 Amounts receivable on subscriptions 0 77,976 205,544 0 Interest and dividends receivable 2,338 70,687 6,469 50,456 Interest receivable on CFD 0 0 0 104 Net unrealised gain on forward foreign (13) exchange contracts 159,415 0 1,090,790 2,199,368 Net unrealised gain on futures (14) 0 0 0 0 Net unrealised gain on CFD (9) 1,689 0 0 0 Other assets 5,347 0 76,205 7,070,756 TOTAL ASSETS 7,057,583 133,744,518 146,030,807 258,081,726 LIABILITIES Options (short position) at market (15) value 815 0 0 199,360 Bank overdraft 0 0 8,669 3,914,218 Amounts payable on purchase of investments 24,182 0 85,989 3,544,750 Amounts payable on redemptions 0 100,694 29,432 0 Payable due to swap counterparty (6,7,8) 0 0 0 0 Interest payable 108 4 27 226 Interest payable on CFD 403 0 21,728 60,305 Net unrealised loss on forward foreign (13) exchange contracts 0 0 0 0 Net unrealised loss on futures (14) 11,494 0 0 2,148,443 Unrealised loss on swaps (6,7,8) 0 0 0 0 Net unrealised loss on CFD (9) 0 0 3,244,750 3,186,139 Management fee payable (4) 5,920 76,754 190,557 327,712 Performance fee payable (16) 7 0 0 2,227 Taxes and expenses payable 3,520 34,063 52,819 99,851 Other liabilities 1,576 0 1,648,655 7,029,676 TOTAL LIABILITIES 48,025 211,515 5,282,626 20,512,907 TOTAL NET ASSETS 7,009,558 133,533,003 140,748,181 237,568,819 The accompanying notes form an integral part of these financial statements.