Annual Report and Audited Financial Statements for the Year Ended 31 December 2019
Total Page：16
File Type：pdf, Size：1020Kb
Xtrackers** Société d’investissement à capital variable R.C.S. Luxembourg N° B-119.899 Annual Report and Audited Financial Statements For the year ended 31 December 2019 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 of Xtrackers** accompanied by the latest annual report and the most recent semi-annual report, if published thereafter. ** This includes synthetic ETFs. Xtrackers** Table of contents Page Organisation 4 Directors’ Report 6 Independent Auditor’s Report 17 Information for Hong Kong Residents 21 Statistics 22 Statement of Net Assets as at 31 December 2019 44 Statement of Operations and Changes in Net Assets for the year ended 31 December 2019 65 Statement of Changes in Shares Issued for the year ended 31 December 2019 86 Statement of Investments as at 31 December 2019 89 Xtrackers MSCI WORLD SWAP UCITS ETF* 89 Xtrackers MSCI EUROPE UCITS ETF 97 Xtrackers MSCI JAPAN UCITS ETF 108 Xtrackers MSCI USA SWAP UCITS ETF* 115 Xtrackers EURO STOXX 50 UCITS ETF 120 Xtrackers DAX UCITS ETF 122 Xtrackers FTSE MIB UCITS ETF 123 Xtrackers SWITZERLAND UCITS ETF 125 Xtrackers FTSE 100 INCOME UCITS ETF 126 Xtrackers FTSE 250 UCITS ETF 129 Xtrackers FTSE ALL-SHARE UCITS ETF 136 Xtrackers MSCI EMERGING MARKETS SWAP UCITS ETF* 150 Xtrackers MSCI EM ASIA SWAP UCITS ETF* 155 Xtrackers MSCI EM LATIN AMERICA SWAP UCITS ETF* 158 Xtrackers MSCI EM EUROPE, MIDDLE EAST & AFRICA SWAP UCITS ETF* 160 Xtrackers MSCI TAIWAN UCITS ETF 162 Xtrackers MSCI BRAZIL UCITS ETF 164 Xtrackers NIFTY 50 SWAP UCITS ETF* 166 Xtrackers MSCI KOREA UCITS ETF 167 Xtrackers FTSE CHINA 50 UCITS ETF 170 Xtrackers EURO STOXX QUALITY DIVIDEND UCITS ETF 172 Xtrackers STOXX GLOBAL SELECT DIVIDEND 100 SWAP UCITS ETF* 174 Xtrackers STOXX EUROPE 600 BASIC RESOURCES SWAP UCITS ETF* 177 Xtrackers STOXX EUROPE 600 OIL & GAS SWAP UCITS ETF* 179 Xtrackers STOXX EUROPE 600 HEALTH CARE SWAP UCITS ETF* 181 Xtrackers STOXX EUROPE 600 BANKS SWAP UCITS ETF* 182 Xtrackers STOXX EUROPE 600 TELECOMMUNICATIONS SWAP UCITS ETF* 183 Xtrackers STOXX EUROPE 600 TECHNOLOGY SWAP UCITS ETF* 184 Xtrackers STOXX EUROPE 600 UTILITIES SWAP UCITS ETF* 186 Xtrackers STOXX EUROPE 600 FOOD & BEVERAGE SWAP UCITS ETF* 188 Xtrackers STOXX EUROPE 600 INDUSTRIAL GOODS SWAP UCITS ETF* 190 Xtrackers DBLCI COMMODITY OPTIMUM YIELD SWAP UCITS ETF* 192 Xtrackers SHORTDAX DAILY SWAP UCITS ETF* 194 Xtrackers EURO STOXX 50 SHORT DAILY SWAP UCITS ETF* 197 Xtrackers SLI UCITS ETF 199 Xtrackers FTSE 100 SHORT DAILY SWAP UCITS ETF* 200 Xtrackers S&P 500 INVERSE DAILY SWAP UCITS ETF* 201 Xtrackers PORTFOLIO UCITS ETF 203 Xtrackers MSCI AC ASIA EX JAPAN SWAP UCITS ETF* 204 Xtrackers MSCI PACIFIC EX JAPAN UCITS ETF 207 Xtrackers MSCI RUSSIA CAPPED SWAP UCITS ETF* 211 Xtrackers FTSE VIETNAM SWAP UCITS ETF* 212 Xtrackers LPX PRIVATE EQUITY SWAP UCITS ETF* 215 Xtrackers S&P ASX 200 UCITS ETF 216 Xtrackers STOXX EUROPE 600 UCITS ETF 221 Xtrackers S&P GLOBAL INFRASTRUCTURE SWAP UCITS ETF* 235 Xtrackers CAC 40 UCITS ETF 237 Xtrackers MSCI EUROPE MID CAP UCITS ETF 239 *This is a synthetic ETF. **This includes synthetic ETFs. 2 Xtrackers** Table of contents (continued) Page Xtrackers MSCI EUROPE SMALL CAP UCITS ETF 246 Xtrackers S&P SELECT FRONTIER SWAP UCITS ETF* 269 Xtrackers USD OVERNIGHT RATE SWAP UCITS ETF* 271 Xtrackers S&P 500 2X LEVERAGED DAILY SWAP UCITS ETF* 272 Xtrackers SHORTDAX X2 DAILY SWAP UCITS ETF* 273 Xtrackers LEVDAX DAILY SWAP UCITS ETF* 274 Xtrackers DB BLOOMBERG COMMODITY OPTIMUM YIELD SWAP UCITS ETF* 275 Xtrackers S&P 500 2X INVERSE DAILY SWAP UCITS ETF* 276 Xtrackers CSI300 SWAP UCITS ETF* 279 Xtrackers MSCI CANADA UCITS ETF 282 Xtrackers MSCI INDONESIA SWAP UCITS ETF* 285 Xtrackers MSCI MEXICO UCITS ETF 287 Xtrackers MSCI EUROPE VALUE UCITS ETF 288 Xtrackers S&P 500 SWAP UCITS ETF* 293 Xtrackers FTSE DEVELOPED EUROPE REAL ESTATE UCITS ETF 298 Xtrackers MSCI CHINA UCITS ETF 301 Xtrackers MSCI INDIA SWAP UCITS ETF* 318 Xtrackers MSCI MALAYSIA UCITS ETF 320 Xtrackers MSCI THAILAND UCITS ETF 321 Xtrackers MSCI PHILIPPINES UCITS ETF 323 Xtrackers MSCI AFRICA TOP 50 SWAP UCITS ETF* 324 Xtrackers SPAIN UCITS ETF 326 Xtrackers MSCI BANGLADESH SWAP UCITS ETF* 328 Xtrackers MSCI PAKISTAN SWAP UCITS ETF* 329 Xtrackers MSCI SINGAPORE UCITS ETF 331 Xtrackers ATX UCITS ETF 334 Xtrackers MSCI EMU UCITS ETF 335 Xtrackers DAX INCOME UCITS ETF 341 Xtrackers FTSE 100 UCITS ETF 342 Xtrackers NIKKEI 225 UCITS ETF 345 Xtrackers HARVEST CSI300 UCITS ETF 350 Xtrackers HARVEST FTSE CHINA A-H 50 UCITS ETF 363 Notes to the Financial Statements 365 Information for Shareholders - unaudited 415 *This is a synthetic ETF. **This includes synthetic ETFs. 3 Xtrackers** Organisation Registered Office Xtrackers** 49, avenue J.F. Kennedy L-1855 Luxembourg Grand Duchy of Luxembourg Board of Directors - Manooj Mistry (chairman of the Board of Directors) DWS Global Head of Index Investing, DWS Investments UK Limited, Winchester House, 1 Great Winchester St, London EC2N 2DB, United Kingdom. - Philippe Ah-Sun Chief Operating Officer of Exchange Traded Funds (ETF) and Systematic UCITS, DWS Investments UK Limited, Winchester House, 1 Great Winchester Street, London EC2N 2DB, United Kingdom. - Alex McKenna Head of Product Platform Engineering at DWS Investments UK Limited, Winchester House, 1 Great Winchester St, London EC2N 2DB, United Kingdom. - Petra Hansen (1) Director, DWS Investment S.A., 2, boulevard Konrad Adenauer, L-1115 Luxembourg, Grand Duchy of Luxembourg. - Freddy Brausch Member of the Luxembourg bar, Linklaters LLP, 35, avenue John F. Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg. Depositary State Street Bank International GmbH, Luxembourg Branch(2) 49, avenue J.F. Kennedy L-1855 Luxembourg Grand Duchy of Luxembourg Management Company DWS Investment S.A. (renamed from Deutsche Asset Management S.A. on 1 January 2019) 2, boulevard Konrad Adenauer L-1115 Luxembourg Grand Duchy of Luxembourg Administrative Agent, Paying Agent, Domiciliary Agent and Listing Agent State Street Bank International GmbH, Luxembourg Branch(2) 49, avenue J.F. Kennedy L-1855 Luxembourg Grand Duchy of Luxembourg Registrar and Transfer Agent State Street Bank International GmbH, Luxembourg Branch(2) 49, avenue J.F. Kennedy L-1855 Luxembourg Grand Duchy of Luxembourg (1) The Annual General Meeting of the Company, held at its registered office on 8 April 2019, acknowledged that Mrs. Petra Hansen submitted to the Board of Directors a resignation letter with an effective date of 8 April 2019. As a result Petra Hansen has not been re-elected as Director of the Company until the next annual general meeting of shareholders of the Company that will approve the annual accounts for the year ending 31 December 2019. (2) With effect from 4 November 2019, State Street Bank Luxembourg S.C.A. merged into State Street Bank International GmbH. Please see point 1 in the significant events section of the notes to the Financial Statements of this annual report for further information. ** This includes synthetic ETFs. 4 Xtrackers** Organisation (continued) Investment Managers / Sub-Portfolio Manager to certain Sub-Funds (see note 14) DWS Investments UK Limited Winchester House 1 Great Winchester Street London EC2N 2DB United Kingdom DWS Investment GmbH Mainzer Landstrasse 11-17 60329 Frankfurt am Main Germany Harvest Global Investments Limited 31/F, One Exchange Square 8, Connaught Place, Central Hong Kong Hong Kong Securities Lending Agent to certain Sub-Funds (see note 8) Deutsche Bank AG, Frankfurt am Main head office Taunusanlage 12 60325 Frankfurt am Main Germany Deutsche Bank AG, London branch Winchester House 1 Great Winchester Street London EC2N 2DB United Kingdom Deutsche Bank AG, New York branch 60 Wall Street New York NY 10005 United States of America AuditoroftheCompany Ernst & Young S.A. 35E, avenue J.F. Kennedy L-1855 Luxembourg Grand Duchy of Luxembourg Legal Advisers to the Company Elvinger Hoss Prussen société anonyme 2, place Winston Churchill L-1340 Luxembourg Grand Duchy of Luxembourg Hong Kong Representative RBC Investor Services Trust Hong Kong Limited (until 30 September 2019) 42nd floor, One Taikoo Place Taikoo Place 979 King’s Road Quarry Bay, Hong Kong DWS Investments Hong Kong Limited (from 1 October 2019) Level 52, International Commerce Centre, 1 Austin Road West, Kowloon, Hong Kong Capitalised terms used herein shall have the same meaning as in the prospectus of Xtrackers** applicable as at 31 December 2019 (the ؆Prospectus؆) unless the context requires otherwise. ** This includes synthetic ETFs. 5 Xtrackers** Directors’ Report . Full year 2019 performance figures for Share Classes The performance figures in the Directors’report are calculated based on the last official NAVpublished for 2019, which is in some cases different than the NAV used for the purpose of the annual report. NAVs used for the annual report are all dated 31/12/2019 (except for liquidated Sub-Fund or share class) and have been specially calculated for the purpose of the annual report; for the avoidance of doubt, the NAVs as published in the annual report are not NAVs on which any Shareholder could have traded. Computing performance figures with the NAV included in the annual report will lead to different results than the table. Sub-Fund Performance Max Index Share Class Share Currency/ Difference/ ISIN Sub-Fund Name All-In Performance Performance Class Share Class Tracking Fee 2019 2019 Currency Difference Xtrackers MSCI USD/ 0.18%/ LU0274208692 WORLD SWAP 1C