FPM Funds Semiannual Report 2013

Transcription

1 Deutsche Asset & Wealth Management FPM Funds Semiannual Report 2013 FPM Funds Stockpicker Germany All Cap FPM Funds Stockpicker Germany Small/Mid Cap Investment Company with Variable Capital Incorporated under Luxembourg Law

2 FPM Funds Stockpicker Germany All Cap FPM Funds Stockpicker Germany Small/Mid Cap

3 Contents Semiannual report 2013 for the period from January 1, 2013, through June 30, 2013 General information Semiannual report FPM Funds SICAV FPM Funds Stockpicker Germany All Cap 4 FPM Funds Stockpicker Germany Small/Mid Cap 5 Investment portfolios for the reporting period 8 1

4 General information The funds described in this report are sub-funds of a SICAV (Société d Investissement à Capital Variable) incorporated under Luxembourg law. Performance The investment return, or performance, of a mutual fund investment is measured by the change in value of the fund s shares. The net asset values per share (= redemption prices) with the addition of intervening distributions, which are, for example, reinvested free of charge within the scope of investment accounts at DWS, are used as the basis for calculating the value. Past performance is not a guide to future results. The corresponding benchmarks if available are also presented in the report. All financial data in this publication is as of June 30, 2013 (unless otherwise stated). Sales prospectuses Fund shares are purchased on the basis of the current sales prospectus, the key investor information document and the articles of incorporation and by-laws of the SICAV, in combination with the latest audited annual report and any semiannual report that is more recent than the latest annual report. Issue and redemption prices The current issue and redemption prices and all other information for shareholders may be requested at any time at the registered office of the Management Company and from the paying agents. In addition, the issue and redemption prices are published in every country of distribution through appropriate media (such as the Internet, electronic information systems, newspapers, etc.). 2

5 2013 Semiannual report

6 FPM Funds Stockpicker Germany All Cap Performance of share classes (in euro) Share class ISIN 6 months Class C LU % Class I LU % Class R LU BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2013 FPM FUNDS STOCKPICKER GERMANY ALL CAP Investment focus by sector Equities: 98.5 Industrials Consumer Discretionary Health Care Financials Information Technology Telecommunication Services Materials Consumer Staples Cash and other assets In % of the fund s net assets As of: June 30,

7 FPM Funds Stockpicker Germany Small/Mid Cap FPM FUNDS STOCKPICKER GERMANY SMALL/MID CAP Performance at a glance in % months FPM Funds Stockpicker Germany Small/Mid Cap Data on euro basis BVI method performance, i.e., excluding the initial sales charge. Past performance is no guide to future results. As of: June 30, 2013 FPM FUNDS STOCKPICKER GERMANY SMALL/MID CAP Investment focus by sector Equities: 86.6 Industrials Consumer Discretionary 17.1 Health Care Information Technology Telecommunication Services Materials Financials Not classified by MSCI system 2.3 Cash and other assets In % of the fund s net assets Security code: A0D N1Q ISIN: LU As of: June 30,

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9 The format used for complete dates in securities descriptions in the investment portfolio is day/month/year. 0Investment 0 portfolios for the reporting period

10 FPM Funds Stockpicker Germany All Cap Investment portfolio June 30, 2013 Count Quantity/ Purchases/ Sales/ Total market Description currency principal additions disposals Market price value in ( / 000) amount in the reporting period EUR % of net assets Securities traded on an exchange Equities Adler Modemärkte (DE000A1H8MU2).... Count EUR Allianz SE (DE ).... Count EUR Axel Springer Vink. Reg. (DE ).... Count EUR Biotest Pref. (DE ).... Count EUR Celesio (DE000CLS1001)... Count EUR Commerzbank Konv. (DE000CBK1001)... Count EUR Deutsche Bank Reg. (DE ).... Count EUR Deutsche Lufthansa Vink. Reg. (DE ).... Count EUR Dialog Semiconductor (GB ).... Count EUR Drägerwerk (DE ).... Count EUR Dürr (DE ).... Count EUR Eckert & Ziegler Strahlen- und Medizintechnik (DE )... Count EUR Elmos Semiconductor (DE ).... Count EUR euromicron Reg. (DE000A1K0300).... Count EUR Evonik Industries Reg. (DE000EVNK013).... Count EUR Freenet (DE000A0Z2ZZ5).... Count EUR Geratherm Medical (DE ).... Count EUR Grammer (DE ).... Count EUR Metro Ord. (DE ).... Count EUR Nexus (DE )... Count EUR NORMA Group (DE000A1H8BV3).... Count EUR Porsche Automobil Holding Pref. (DE000PAH0038).... Count EUR Rheinmetall Ord. (DE ).... Count EUR SAF Holland (LU ).... Count EUR Schaltbau Holding (DE ).... Count EUR SHW (DE000A1JBPV9).... Count EUR Sixt Pref. (DE ).... Count EUR Software (DE )... Count EUR Talanx Reg. (DE000TLX1005).... Count EUR Volkswagen Pref. (DE ).... Count EUR Wüstenrot & Württembergische Reg. (DE ). Count EUR Total securities portfolio Cash at bank Demand deposits at Custodian EUR deposits.... EUR % Deposits in non-eu/eea currencies Swiss franc.... CHF 3.36 % Other assets Withholding tax claims... EUR % Other liabilities Liabilities from cost items.... EUR % Additional other liabilities.... EUR % Net assets Net asset value per share and Count/ Net asset value per share number of shares outstanding currency in the respective currency Net asset value per share Class C... EUR Class I.... EUR Number of shares outstanding Class C... Count Class I.... Count Negligible rounding errors may have arisen due to the rounding of calculated percentages. 8

11 FPM Funds Stockpicker Germany All Cap Exchange rates (indirect quotes) As of June 28, 2013 Swiss franc.... CHF = EUR 1 Notes on the 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. Investments reported in this report are not valued at derived market values. 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 Description Count currency ( / 000) Purchases/ additions Sales/ disposals Securities traded on an exchange Equities Bauer (DE ).... Count Commerzbank (DE ).... Count Continental (DE )... Count Deutsche Börse Reg. (DE )... Count E.ON Reg. (DE000ENAG999).... Count Fresenius Medical Care (DE ).... Count Heidelberger Druckmaschinen (DE )... Count Hugo Boss Reg. (DE000A1PHFF7).... Count Lanxess (DE ).... Count SAP (DE ).... Count Siemens Reg. (DE )... Count STO Pref. (DE ).... Count Tipp24 Reg. (DE ).... Count

12 FPM Funds Stockpicker Germany Small/Mid Cap Investment portfolio June 30, 2013 Count Quantity/ Purchases/ Sales/ Total market Description currency principal additions disposals Market price value in ( / 000) amount in the reporting period EUR % of net assets Securities traded on an exchange Equities Aareal Bank (DE ).... Count EUR Aurubis (DE )... Count EUR Bechtle (DE )... Count EUR Celesio (DE000CLS1001)... Count EUR CENTROTEC Sustainable (DE )... Count EUR CeWe Color Holding (DE ).... Count EUR Digital Identification Solutions (DE000A0JELZ5).... Count EUR Freenet (DE000A0Z2ZZ5).... Count EUR GfK (DE ).... Count EUR Grenkeleasing (DE ).... Count EUR Jungheinrich Pref. (DE ).... Count EUR Kion Group (DE000KGX8881).... Count EUR Klöckner & Co. (DE000KC01000)... Count EUR KROMI Logistik (DE000A0KFUJ5)... Count EUR Leoni Reg. (DE ).... Count EUR MBB Industries (DE000A0ETBQ4).... Count EUR Nexus (DE )... Count EUR NORMA Group (DE000A1H8BV3).... Count EUR Progress-Werk Oberkirch (DE )... Count EUR QSC Reg. (DE ).... Count EUR Rheinmetall Ord. (DE ).... Count EUR S&T (AT0000A0E9W5)... Count EUR SAF Holland (LU ).... Count EUR Sartorius Pref. (DE ).... Count EUR Sixt Pref. (DE ).... Count EUR Software (DE )... Count EUR STO Pref. (DE ).... Count EUR Surteco (DE )... Count EUR Takkt (DE )... Count EUR Tom Tailor Holding (DE000A0STST2).... Count EUR United Internet Reg. (DE ).... Count EUR Total securities portfolio Cash at bank Demand deposits at Custodian EUR deposits.... EUR % Deposits in non-eu/eea currencies Swiss franc.... CHF % Other assets Withholding tax claims... EUR % Other liabilities Liabilities from cost items.... EUR % Additional other liabilities.... EUR % Net assets Net asset value per share Number of shares outstanding Negligible rounding errors may have arisen due to the rounding of calculated percentages. Exchange rates (indirect quotes) As of June 28, 2013 Swiss franc.... CHF = EUR 1 10

13 FPM Funds Stockpicker Germany Small/Mid Cap Notes on the 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. Investments reported in this report are not valued at derived market values. 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 Description Count currency ( / 000) Purchases/ additions Sales/ disposals Securities traded on an exchange Equities Dialog Semiconductor (GB ).... Count Gerresheimer (DE000A0LD6E6).... Count

14 FPM Funds SICAV June 30, 2013 Portfolio composition (in euro) FPM Funds SICAV FPM Funds Stockpicker Germany Small/Mid Cap FPM Funds Stockpicker Germany Large Cap FPM Funds Stockpicker Germany All Cap Securities portfolio Cash at bank Other assets Other liabilities = Net assets

15 Investment Company FPM Funds SICAV 2, Boulevard Konrad Adenauer L-1115 Luxembourg RC B Board of Directors of the Investment Company Doris Marx Chairwoman Member of the Management of DWS Investment S.A., Luxembourg Michael Koschatzki DWS Investment GmbH, Manfred Piontke Executive Member of the Board of Directors Member of the Management Board of FPM Frankfurt Performance Management AG, Thomas Seppi Member of the Management Board of FPM Frankfurt Performance Management AG, Management Manfred Piontke Member of the Management Board of FPM Frankfurt Performance Management AG, Management Company DWS Investment S.A. 2, Boulevard Konrad Adenauer L-1115 Luxembourg Capital stock as of December 31, 2012: EUR million after appropriation of net profit Board of Directors of the Management Company Wolfgang Matis Chairman Managing Director of DWS Investment GmbH, Managing Director of DWS Holding & Service GmbH, Ernst Wilhelm Contzen Executive Member of the Board of Directors of Deutsche Bank Luxembourg S.A., Luxembourg Heinz-Wilhelm Fesser Luxembourg Frank Kuhnke London Dr. Matthias Liermann (since April 4, 2013) DWS Investment GmbH, Holger Naumann (since April 4, 2013) Managing Director of DWS Investment GmbH, Managing Director of DWS Holding & Service GmbH, Klaus-Michael Vogel Executive Member of the Board of Directors of DWS Investment S.A., Luxembourg Executive Member of the Board of Directors of Deutsche Bank Luxembourg S.A., Luxembourg Dorothee Wetzel (until March 15, 2013) DWS Investment GmbH, Jochen Wiesbach (until March 15, 2013) Managing Director of DWS Finanz-Service GmbH, Dr. Asoka Wöhrmann Managing Director of DWS Investment GmbH, Managing Director of DWS Holding & Service GmbH, Managing Director of DWS Finanz-Service GmbH, Management Company Management Klaus-Michael Vogel Executive Member of the Board of Directors of DWS Investment S.A., Luxembourg Executive Member of the Board of Directors of Deutsche Bank Luxembourg S.A., Luxembourg Manfred Bauer DWS Investment S.A., Luxembourg Markus Kohlenbach DWS Investment S.A., Luxembourg Doris Marx DWS Investment S.A., Luxembourg Ralf Rauch DWS Investment S.A., Luxembourg Martin Schönefeld DWS Investment S.A., Luxembourg Auditor KPMG Luxembourg S.à r.l. 9, Allée Scheffer L-2520 Luxembourg Custodian State Street Bank Luxembourg S.A. 49, Avenue J. F. Kennedy L-1855 Luxembourg Fund Manager DWS Investment GmbH Mainzer Landstraße D Sub-fund Manager FPM Frankfurt Performance Management AG Freiherr-vom-Stein-Straße 11 D Sales, Information and Paying Agent LUXEMBOURG Deutsche Bank Luxembourg S.A. 2, Boulevard Konrad Adenauer L-1115 Luxembourg As of: July 31, 2013

16 FPM Funds SICAV 2, Boulevard Konrad Adenauer L-1115 Luxembourg RC B Tel.: Fax: