Raiffeisen Eurasia Equities

Transcription

1 (Original German name: Raiffeisen-Eurasien-Aktien) semi-annual fund report reporting period Feb 1, 2017 Jul 31, 2017

2 Table of contents General fund information... 3 Fund characteristics... 3 Legal notice... 4 Fund details... 5 Units in circulation... 5 Fund investment policy report... 6 Makeup of fund assets in EUR... 7 Portfolio of investments in EUR as of Jul 31, Appendix reporting period Feb 1, 2017 Jul 31,

3 Report for the reporting period from Feb 1, 2017 to Jul 31, 2017 General fund information ISIN Tranche Income class Currency Launch date AT (R) A income-distributing EUR May 2, 2000 AT0000A1TVW8 (RZ) A income-distributing EUR Apr 3, 2017 AT (R) T income-retaining EUR May 2, 2000 AT0000A1TVV0 (RZ) T income-retaining EUR Apr 3, 2017 AT (R) VTA full income-retaining (outside Austria) EUR May 15, 2000 AT0000A1TVX6 (RZ) VTA full income-retaining (outside Austria) EUR Apr 3, 2017 AT0000A0EYC8 (I) VTA full income-retaining (outside Austria) EUR Jan 4, 2010 Fund characteristics Fund currency EUR Financial year Feb 1 Jan 31 Distribution/payment/reinvestment date Apr 15 Type of fund Investment fund pursuant to 2 of the Austrian Investment Fund Act, InvFG (UCITS) Effective management fee for the fund R-Tranche (EUR): % RZ-Tranche (EUR): % I-Tranche (EUR): % Max. management fee for subfunds % Custodian bank Raiffeisen Bank International AG Management company Raiffeisen Kapitalanlage-Gesellschaft m.b.h. Mooslackengasse 12, A-1190 Vienna Tel Fax Companies register number: w Fund management Raiffeisen Kapitalanlage-Gesellschaft m.b.h. Auditor KPMG Austria GmbH reporting period Feb 1, 2017 Jul 31,

4 Legal notice The software used performs calculations on the basis of more than the two decimal places displayed. Minor discrepancies cannot be ruled out due to further calculations using published results. The value of a unit is calculated by dividing the entire value of the investment fund inclusive of its income by the number of units. The total value of the investment fund is calculated on the basis of the current market prices of the securities, money market instruments and subscription rights in the fund plus the value of the fund s financial investments, cash holdings, credit balances, receivables and other rights net of its payables. That value will be calculated by the custodian bank. The net assets are calculated in accordance with the following principles: a) The value of assets quoted or traded on a stock exchange or other regulated market shall be determined, in principle, on the basis of the most recently available price. b) Where an asset is not quoted or traded on a stock market or another regulated market or where the price for an asset quoted or traded on a stock market or another regulated market does not appropriately reflect its actual market value, the prices provided by reliable data providers or, alternatively, market prices for equivalent securities or other recognized market valuation methods shall be used. Raiffeisen KAG uses the method developed by OeKB (Österreichische Kontrollbank AG) to calculate the fund s performance, on the basis of data provided by the custodian bank (where payment of the redemption price is suspended, using indicative values). Some costs the subscription fee (not exceeding 5.00 % of the invested amount) and any redemption fee (not exceeding 0.00 % of the sold amount) are not included in the performance calculation. Depending on their concrete value, they will reduce a performance accordingly. Past results do not permit any reliable inferences as to the future performance of the fund. reporting period Feb 1, 2017 Jul 31,

5 Dear unitholder, Raiffeisen Kapitalanlage-Gesellschaft m.b.h. is pleased to present its semi-annual fund report for Raiffeisen Eurasia Equities for the reporting period from Feb 1, 2017 to Jul 31, The accounting is based on the price calculation as of Jul 31, Fund details Jan 31, 2017 Jul 31, 2017 Total fund assets in EUR 466,982, ,779, Net asset value/distributing units (R) (AT ) in EUR Issue price/distributing units (R) (AT ) in EUR Net asset value/distributing units (RZ) (AT0000A1TVW8) in EUR Issue price/distributing units (RZ) (AT0000A1TVW8) in EUR Net asset value/reinvested units (R) (AT ) in EUR Issue price/reinvested units (R) (AT ) in EUR Net asset value/reinvested units (RZ) (AT0000A1TVV0) in EUR Issue price/reinvested units (RZ) (AT0000A1TVV0) in EUR Net asset value/fully reinvestet units (R) (AT ) in EUR Issue price/fully reinvested units (R) (AT ) in EUR Net asset value/fully reinvestet units (RZ) (AT0000A1TVX6) in EUR Issue price/fully reinvested units (RZ) (AT0000A1TVX6) in EUR Net asset value/fully reinvestet units (I) (AT0000A0EYC8) in EUR Issue price/fully reinvested units (I) (AT0000A0EYC8) in EUR Units in circulation Units in circulation on Jan 31, 2017 Sales Repurchases Units in circulation on Jul 31, 2017 AT (R) A 242, , , , AT0000A1TVW8 (RZ) A AT (R) T 1,431, , , ,383, AT0000A1TVV0 (RZ) T - 2, , AT (R) VTA 531, , , , AT0000A1TVX6 (RZ) VTA AT0000A0EYC8 (I) VTA 1, , Total units in circulation 2,121, reporting period Feb 1, 2017 Jul 31,

6 Fund investment policy report In the period under review, almost all of the Eurasian stock markets registered price gains on a euro basis. The stock markets in Turkey, China and India achieved the strongest price gains. The Russian stock exchange was the sole negative outlier. The Turkish market performed very strongly following Erdogan s referendum victory in April Political stability in this country would thus appear to be assured at least until the next election in Companies surprisingly strong profit growth and powerful economic growth also had a supportive effect in the first half of This is all the more impressive in that tourism is continuing to suffer due to the effects of the attacks. Russia s stock market was a key beneficiary of Donald Trump s election as the new American president. This reflected market participants hope of an improvement in the tense relationship between the USA and Russia and a removal of the sanctions imposed on Russia. However, these hopes were disappointed. Since the cutbacks in OPEC s and Russia s oil production failed to generate a rise in the price of oil, the gains resulting from the rally in November and December 2016 evaporated. At the end of the reporting period, the stock market was thus at the same level as before the US election. The Eurasia countries are continuing to grow significantly faster than the developed markets in terms of economic growth. For 2017, the economists predict economic growth of approx. 7 % for India and the Philippines, 6 % for China, 5 % for Indonesia and Malaysia, 4 % for Thailand and Turkey and 2 % for Russia. At the country level, the ASEAN countries and India accounted for the fund s largest absolute weightings in the reporting period, followed by China and Russia. At the sector level, the fund s key commitments were financial, information technology and energy stocks. The fund increased its holdings in Chinese technology and Turkish financial companies and reduced its holdings in Indian consumer stocks. reporting period Feb 1, 2017 Jul 31,

7 Makeup of fund assets in EUR Any discrepancies in terms of the market value or the share of the fund assets result from rounding-off. UCITS refers to units in an undertaking for collective investment in transferable securities 166 InvFG refers to units in investment funds in the form of other asset portfolios 166 (1) item 2 InvFG refers to units in special funds 166 (1) item 3 InvFG refers to units in undertakings for collective investment in transferable securities pursuant to 166 (1) item 3 InvFG (such as alternative investments/hedge funds) 166 (1) item 4 InvFG refers to units in real estate funds Type of security OGAW/ 166 Currency Market value in EUR Share of fund assets Equities HKD 69,603, % Equities IDR 30,913, % Equities INR 116,701, % Equities MYR 35,104, % Equities PHP 14,533, % Equities RUB 38,001, % Equities THB 33,104, % Equities TRY 22,213, % Equities USD 1,425, % Total Equities 361,600, % Equities ADR USD 46,325, % Total Equities ADR 46,325, % Equities GDR USD 11,481, % Total Equities GDR 11,481, % Investment certificates Raiffeisen OGAW EUR 9,881, % Total Investment certificates Raiffeisen 9,881, % Total securities 429,290, % Derivative products Valuation of financial futures -94, % Options 99, % Total derivative products 5, % Bank balances/liabilities Bank balances/liabilities in fund currency -415, % Bank balances/liabilities in foreign currency 20,398, % Total bank balances/liabilities 19,983, % reporting period Feb 1, 2017 Jul 31,

8 Type of security OGAW/ 166 Currency Market value in EUR Share of fund assets Accruals and deferrals Interest claims (on securities and bank balances) 9, % Dividends receivable 1,419, % Total accruals and deferrals 1,429, % Other items Various fees -928, % Total other items -928, % Total fund assets 449,779, % reporting period Feb 1, 2017 Jul 31,

9 Portfolio of investments in EUR as of Jul 31, 2017 Dates indicated for securities refer to the issue and redemption dates. An issuer s right of premature redemption (where applicable) is not specified. The securities marked with a Y have an open-ended maturity (is perpetual). The price for forward exchange transactions is indicated in the relevant counter currency for the currency in question. Any discrepancies in terms of the market value or the share of the fund assets result from rounding-off. UCITS refers to units in an undertaking for collective investment in transferable securities 166 InvFG refers to units in investment funds in the form of other asset portfolios 166 (1) item 2 InvFG refers to units in special funds 166 (1) item 3 InvFG refers to units in undertakings for collective investment in transferable securities pursuant to 166 (1) item 3 InvFG (such as alternative investments/hedge funds) 166 (1) item 4 InvFG refers to units in real estate funds Type of security OGAW/ 166 ISIN Security title Currency Volume Purchases Sales Pool-/ In period under review ILB Factor Price Market value in EUR Equities CNE100000Q43 AGRICULTURAL BANK OF CHINA-H 1288 HKD 5,706,000 4,724,000 1,628, ,251, % Equities CNE Z5 BANK OF CHINA LTD-H 3988 HKD 10,443,000 22,898, ,313, % Equities CNE BEIJING CAPITAL INTL AIRPO-H 694 HKD 2,222,000 2,222, ,978, % Equities CNE H1 CHINA CONSTRUCTION BANK-H 939 HKD 4,982, ,000 17,385, ,513, % Equities BMG2109G1033 CHINA GAS HOLDINGS LTD 384 HKD 280, , , % Equities CNE L3 CHINA LIFE INSURANCE CO-H 2628 HKD 744, ,000 1,650, ,002, % Equities CNE M1 CHINA MERCHANTS BANK-H 3968 HKD 973, , , ,714, % Equities HK CHINA MERCHANTS PORT HOLDING 144 HKD 415, , , ,078, % Equities HK CHINA MOBILE LTD 941 HKD 594, , , ,402, % Equities CNE100001SR9 CHINA VANKE CO LTD-H 2202 HKD 1,300,000 1,300, ,244, % Equities HK CNOOC LTD 883 HKD 3,500, ,326, % Equities HK CSPC PHARMACEUTICAL GROUP LT 1093 HKD 823,000 1,138, , ,078, % Equities BMG HAIER ELECTRONICS GROUP CO 1169 HKD 463, , ,021, % Equities KYG4232C1087 HAITIAN INTERNATIONAL HLDGS 1882 HKD 300, , , % Equities CNE G1 IND & COMM BK OF CHINA-H 1398 HKD 5,900,000 5,900,000 1,769, ,485, % Equities BMG5320C1082 KUNLUN ENERGY CO LTD 135 HKD 1,241,000 1,612, , ,025, % Equities BMG NINE DRAGONS PAPER HOLDINGS 2689 HKD 1,040,000 1,446,000 1,850, ,253, % Equities CNE PICC PROPERTY & CASUALTY-H 2328 HKD 1,150,000 1,150, ,812, % Equities CNE X6 PING AN INSURANCE GROUP CO-H 2318 HKD 885,000 1,225, , ,517, % Equities KYG REAL GOLD MINING LTD HKD 425, % Equities HK SHANGHAI INDUSTRIAL HLDG LTD 363 HKD 343,000 9, , , % Equities KYG8586D1097 SUNNY OPTICAL TECH 2382 HKD 82,200 82, , % Equities KYG TENCENT HOLDINGS LTD 700 HKD 526, ,000 80, ,496, % Equities CNE Y2 ZTE CORP-H 763 HKD 1,400,000 1,400, ,120, % Equities ID AKR CORPORINDO TBK PT AKRA IDR 3,735, ,000 6, ,616, % Equities ID ASTRA INTERNATIONAL TBK PT ASII IDR 8,409,400 1,921,800 3,061,100 7, ,270, % Equities ID BANK CENTRAL ASIA TBK PT BBCA IDR 2,450,000 2,302,000 18, ,942, % Equities ID BANK NEGARA INDONESIA PERSER BBNI IDR 4,950,000 2,000,000 7, ,324, % Share of fund assets 1 Since May 2011, Real Gold Mining has been suspended from trading on the Hong Kong stock exchange due to an allegation of false accounting and has been written down to HKD reporting period Feb 1, 2017 Jul 31,

10 Type of security OGAW/ 166 ISIN Security title Currency Volume Purchases Sales Pool-/ In period under review ILB Factor reporting period Feb 1, 2017 Jul 31, Price Market value in EUR Equities ID BANK RAKYAT INDONESIA PERSER BBRI IDR 5,611, ,000 1,363,600 14, ,198, % Equities ID BANK TABUNGAN NEGARA PERSERO BBTN IDR 11,000,000 11,000,000 2, ,819, % Equities ID BUMI SERPONG DAMAI PT BSDE IDR 11,673,200 1, ,304, % Equities ID INDOFOOD SUKSES MAKMUR TBK P INDF IDR 4,793, ,500 1,747,500 8, ,633, % Equities ID JASA MARGA (PERSERO) TBK PT JSMR IDR 2,480,500 2,480,500 5, , % Equities ID PAKUWON JATI TBK PT PWON IDR 30,400,000 30,400, ,349, % Equities ID TELEKOMUNIKASI INDONESIA PER TLKM IDR 19,086,700 1,678,500 2,477,500 4, ,730, % Equities ID WIJAYA KARYA PERSERO TBK PT WIKA IDR 6,200,000 4,200,000 2, , % Equities INE372A01015 APAR INDUSTRIES LTD APR INR 580, , ,021, % Equities INE238A01034 AXIS BANK LTD AXSB INR 241,800 18, ,652, % Equities INE296A01024 BAJAJ FINANCE LTD BAF INR 35,900 35,900 1, , % Equities INE465A01025 BHARAT FORGE LTD BHFC INR 44,900 44, ,000 1, , % Equities INE121J01017 BHARTI INFRATEL LTD BHIN INR 160, , , , % Equities INE323A01026 BOSCH LTD BOS INR 7, , ,463, % Equities INE010B01027 CADILA HEALTHCARE LTD CDH INR 109, , , % Equities INE491A01021 CITY UNION BANK LTD CUBK INR 1,451, , , ,226, % Equities INE169A01031 COROMANDEL INTERNATIONAL LTD CRIN INR 635,300 50, ,681, % Equities INE298A01020 CUMMINS INDIA LTD KKC INR 244,400 18, ,209, % Equities INE047A01021 GRASIM INDUSTRIES LTD GRASIM INR 163,700 60,300 8,000 1, ,840, % Equities INE860A01027 HCL TECHNOLOGIES LTD HCLT INR 725, , , ,594, % Equities INE038A01020 HINDALCO INDUSTRIES LTD HNDL INR 312, , , , % Equities INE094A01015 HINDUSTAN PETROLEUM CORP HPCL INR 170, , , , % Equities INE030A01027 HINDUSTAN UNILEVER LTD HUVR INR 82,000 82,000 1, ,255, % Equities INE001A01036 HOUSING DEVELOPMENT FINANCE HDFC INR 384, ,500 18,800 1, ,095, % Equities INE090A01021 ICICI BANK LTD ICICIBC INR 319, , , ,255, % Equities INE242A01010 INDIAN OIL CORP LTD IOCL INR 148, , , % Equities INE095A01012 INDUSIND BANK LTD IIB INR 200,500 15,100 1, ,331, % Equities INE009A01021 INFOSYS LTD INFO INR 329,200 24, ,355, % Equities INE571A01020 IPCA LABORATORIES LTD IPCA INR 237,000 17, ,513, % Equities INE154A01025 ITC LTD ITC INR 478, , , ,852, % Equities INE019A01038 JSW STEEL LTD JSTL INR 323,300 1,018, , , % Equities INE018A01030 LARSEN & TOUBRO LTD LT INR 71,150 71,150 1, ,096, % Equities INE101A01026 MAHINDRA & MAHINDRA LTD MM INR 60,000 60,000 1, ,109, % Equities INE585B01010 MARUTI SUZUKI INDIA LTD MSIL INR 126,400 16,900 23,000 7, ,795, % Equities INE775A01035 MOTHERSON SUMI SYSTEMS LTD MSS INR 203, , , % Equities INE742F01042 MUNDRA PORT AND SEZ LTD MSEZ INR 255, , , ,342, % Equities INE603J01030 PI INDUSTRIES LTD PI INR 216,300 16, ,195, % Equities INE002A01018 RELIANCE INDUSTRIES LTD RIL INR 482,400 66,600 54,700 1, ,203, % Equities INE020B01018 RURAL ELECTRIFICATION CORP RECL INR 286, , , % Equities INE647A01010 SRF LTD SRF INR 92,000 7,000 1, ,880, % Equities INE062A01020 STATE BANK OF INDIA SBIN INR 845, , ,352, % Equities INE195A01028 SUPREME INDUSTRIES LTD SI INR 337,700 25,400 1, ,020, % Equities INE467B01029 TATA CONSULTANCY SVCS LTD TCS INR 62,070 16,730 2, ,045, % Equities INE155A01022 TATA MOTORS LTD TTMT INR 1,163, , ,880, % Equities INE081A01012 TATA STEEL LTD TATA INR 109, , , % Equities INE528G01019 YES BANK LTD YES INR 57, , ,600 1, ,409, % Equities INE256A01028 ZEE ENTERTAINMENT ENTERPRISE Z INR 437, , ,139, % Equities MYL1023OO000 CIMB GROUP HOLDINGS BHD CIMB MYR 3,336,000 1,843, , ,404, % Equities MYL7277OO006 DIALOG GROUP BHD DLG MYR 5,671,900 2,431, ,165, % Equities MYL3182OO002 GENTING BHD GENT MYR 1,761,500 1,940, , ,376, % Equities MYL4715OO008 GENTING MALAYSIA BHD GENM MYR 2,649, ,200 1,220, ,155, % Share of fund assets

11 Type of security OGAW/ 166 ISIN Security title Currency Volume Purchases Sales Pool-/ In period under review ILB Factor reporting period Feb 1, 2017 Jul 31, Price Market value in EUR Equities MYL5168OO009 HARTALEGA HOLDINGS BHD HART MYR 424, , , % Equities MYL5819OO007 HONG LEONG BANK BERHAD HLBK MYR 560, , ,759, % Equities MYL3336OO004 IJM CORP BHD IJM MYR 3,217, ,226, % Equities MYL1155OO000 MALAYAN BANKING BHD MAY MYR 2,017, , ,865, % Equities MYL5014OO005 MALAYSIA AIRPORTS HLDGS BHD MAHB MYR 1,469,600 1,851, , ,553, % Equities MYL5183OO008 PETRONAS CHEMICALS GROUP BHD PCHEM MYR 778, , , ,075, % Equities MYL5218OO002 SAPURA ENERGY BHD SAPE MYR 3,700,000 6,193,800 3,493, ,140, % Equities MYL4197OO009 SIME DARBY BERHAD SIME MYR 2,432, , , ,594, % Equities MYL4863OO006 TELEKOM MALAYSIA BHD T MYR 1,200,000 1,200, ,510, % Equities MYL5347OO009 TENAGA NASIONAL BHD TNB MYR 950, , ,674, % Equities PHY0486V1154 AYALA CORPORATION AC PHP 110,000 41,700 41, ,644, % Equities PHY0488F1004 AYALA LAND INC ALI PHP 4,177,100 1,444, ,023, % Equities PHY0967S1694 BANK OF THE PHILIPPINE ISLAN BPI PHP 693, ,252, % Equities PHY BDO UNIBANK INC BDO PHP 633, ,333, % Equities PHY2292T1026 ENERGY DEVELOPMENT CORP EDC PHP 9,934, , % Equities PHY GLOBE TELECOM INC GLO PHP 22,300 22,300 2, , % Equities PHY MEGAWORLD CORP MEG PHP 10,082,000 10,082, , % Equities PHY METRO PACIFIC INVESTMENTS CO MPI PHP 10,000,000 7,404, ,146, % Equities PHY7318T1017 ROBINSONS RETAIL HOLDINGS IN RRHI PHP 800, , ,170, % Equities PHY8076N1120 SM PRIME HOLDINGS INC SMPH PHP 3,951,000 1,643, , ,327, % Equities RU ALROSA PJSC ALRS RUB 762,900 21,000 1,255, , % Equities RU000A0JS942 MEGAFON PJSC MFON RUB 49,800 49, , % Equities RU000A0JR4A1 MOSCOW EXCHANGE MICEX-RTS PJ MOEX RUB 542, , , , % Equities RU000A0JPKH7 RUSHYDRO PJSC HYDR RUB 96,825,500 22,328, ,952, ,086, % Equities RU SBERBANK OF RUSSIA PJSC SBER RUB 12,307,900 1,438,000 64, ,072, % Equities RU SBERBANK-PFD-STD SBERPS RUB 258, , , % Equities RU SURGUTNEFTEGAS-PREFERENCE SNGSP RUB 5,885,200 4,324, , ,347, % Equities RU TATNEFT PJSC TATN RUB 371, ,500 11, ,010, % Equities RU TATNEFT-PREF 3 SERIES TATNP RUB 221, , % Equities TH R11 ADVANCED INFO SERVICE-NVDR ADVANC-R THB 465,000 65, ,234, % Equities TH R16 AIRPORTS OF THAILAND PC-NVDR AOT-R THB 2,701,200 2,831, , ,589, % Equities TH R13 BANGKOK LIFE ASSURANCE-NVDR BLA-R THB 1,159, , ,252, % Equities TH R10 CENTRAL PATTANA PCL-NVDR CPN-R THB 1,453,000 1,453, ,534, % Equities TH R16 CENTRAL PLAZA HOTEL PCL-NVDR CENTEL-R THB 1,000, , ,035, % Equities TH R15 CP ALL PCL-NVDR CPALL-R THB 2,015,600 1,699, , ,142, % Equities TH R12 HANA MICROELECTRONICS-NVDR HANA-R THB 900, , , % Equities TH R17 HOME PRODUCT CENTER PCL-NVDR HMPRO-R THB 8,252, , , ,077, % Equities TH KASIKORNBANK PCL-FOREIGN KBANK/F THB 289, ,486, % Equities TH R14 KASIKORNBANK PCL-NVDR KBANK-R THB 300, , ,514, % Equities TH R18 KRUNGTHAI CARD PCL-NVDR KTC-R THB 500, , ,309, % Equities TH R16 LAND & HOUSES PUB - NVDR LH-R THB 4,100,000 1,500,000 2,834, ,042, % Equities TH R18 PTT PCL-NVDR PTT-R THB 556, ,700 48, ,521, % Equities TH R12 SIAM CEMENT PCL-NVDR SCC-R THB 282,900 10,500 3, ,614, % Equities TH R11 THAI OIL PCL-NVDR TOP-R THB 811, ,773, % Equities TRAAKBNK91N6 AKBANK T.A.S. AKBNK TRY 1,352,870 1,130, , ,397, % Equities TRAARCLK91H5 ARCELIK AS ARCLK TRY 113, , , % Equities TREEGYO00017 EMLAK KONUT GAYRIMENKUL YATI EKGYO TRY 1,832,520 1,832,520 1,065, ,432, % Equities TRASAHOL91Q5 HACI OMER SABANCI HOLDING SAHOL TRY 642, , ,674, % Equities TRAKCHOL91Q8 KOC HOLDING AS KCHOL TRY 439, , ,741, % Equities TRAPETKM91E0 PETKIM PETROKIMYA HOLDING AS PETKM TRY 1,502,560 2,102,000 1,311, ,323, % Equities TRATOASO91H3 TOFAS TURK OTOMOBIL FABRIKA TOASO TRY 87,000 87, , % Share of fund assets

12 Type of security OGAW/ 166 ISIN Security title Currency Volume Purchases Sales Pool-/ In period under review ILB Factor Price Market value in EUR Equities TRATUPRS91E8 TUPRAS-TURKIYE PETROL RAFINE TUPRS TRY 32,700 1, , , % Equities TRATCELL91M1 TURKCELL ILETISIM HIZMET AS TCELL TRY 543, , ,709, % Equities TRAGARAN91N1 TURKIYE GARANTI BANKASI GARAN TRY 1,573,100 1,374, , ,015, % Equities TRETHAL00019 TURKIYE HALK BANKASI HALKB TRY 1,036,000 1,036, ,691, % Equities RU ALROSA PJSC ALRS USD 1,200,000 1,200, ,425, % Equities ADR US01609W1027 ALIBABA GROUP HOLDING-SP ADR BABA USD 113, , , ,169, % Equities ADR US BAIDU INC - SPON ADR BIDU USD 22,800 18,500 7, ,270, % Equities ADR US22943F1003 CTRIP.COM INTERNATIONAL-ADR CTRP USD 50,000 50, ,541, % Equities ADR US GAZPROM PAO -SPON ADR OGZD USD 933, ,400 1,053, ,074, % Equities ADR US47215P1066 JD.COM INC-ADR JD USD 70,000 70, ,694, % Equities ADR US69343P1057 LUKOIL PJSC-SPON ADR LKOD USD 264,330 39,700 49, ,502, % Equities ADR US55315J1025 MMC NORILSK NICKEL PJSC-ADR MNOD USD 126, , ,591, % Equities ADR US MOBILE TELESYSTEMS-SP ADR MBT USD 357, ,100 5, ,633, % Equities ADR US TATNEFT PAO-SPONSORED ADR ATAD USD 86,480 16, ,808, % Equities ADR US WEIBO CORP-SPON ADR WB USD 16,000 16, ,039, % Equities GDR US MAIL.RU GROUP-GDR REGS MAIL USD 85,800 85, ,045, % Equities GDR US58517T2096 MEGAFON-REG S GDR MFON USD 51,800 51, , % Equities GDR US NOVATEK PJSC-SPONS GDR REG S NVTK USD 51,900 17,800 24, ,603, % Equities GDR US87238U2033 TCS GROUP HOLDING -REG S TCS USD 94,400 94, ,056, % Equities GDR US98387E2054 X 5 RETAIL GROUP NV-REGS GDR FIVE USD 101, ,349, % Investment certificates Raiffeisen OGAW AT0000A07FR3 RAIFFEISEN RUSSIA EQUITIES (R) T EUR 131,600 12, ,881, % Total licensed securities admitted to trading on the official market or another regulated market and investment certificates 429,290, % Share of fund assets Total securities 429,290, % Stock index future FHHI H-SHARES IDX FUT Aug17 HCQ7 COMB HKD , , % Total financial futures 1-94, % Equity options 0XCC7H August 17 Calls on 939 HK 939S HK 08/30/17 C6.25 HKD 3, , % Total options 1 99, % Bank balances/liabilities EUR -415, % HKD 2,110, % THB % USD 18,288, % Total bank balances/liabilities 19,983, % Accruals and deferrals Interest claims (on securities and bank balances) 9, % Dividends receivable 1,419, % Total accruals and deferrals 1,429, % 1 Price gains and losses as of cut-off date. reporting period Feb 1, 2017 Jul 31,

13 Type of security OGAW/ 166 ISIN Security title Currency Volume Purchases Sales Pool-/ In period under review ILB Factor Price Market value in EUR Other items Various fees -928, % Total other items -928, % Share of fund assets Total fund assets 449,779, % ISIN Income class Currency Net asset value per unit Units in circulation AT R income-distributing EUR , AT0000A1TVW8 RZ income-distributing EUR AT R income-retaining EUR ,383, AT0000A1TVV0 RZ income-retaining EUR , AT R full income-retaining (outside Austria) EUR , AT0000A1TVX6 RZ full income-retaining (outside Austria) EUR AT0000A0EYC8 I full income-retaining (outside Austria) EUR , Exchange rates Foreign currency assets were converted into EUR on the basis of the exchange rates applicable on Jul 28, 2017 Currency Price (1 EUR =) Hong Kong Dollars HKD Indonesian Rupiah IDR 15, Indian Rupees INR Malaysian Ringgit MYR Philippines Pesos PHP Russian Rubles RUB Thai Baht THB Turkish Lira TRY US Dollars USD Securities purchases and sales during the period under review not listed under the portfolio of assets: Type of security OGAW/ 166 ISIN Security title Currency Purchases Additions Equities CNE T8 ALUMINUM CORP OF CHINA LTD-H 2600 HKD 3,110,000 6,392,000 Equities CNE BANK OF COMMUNICATIONS CO-H 3328 HKD 1,434,000 Equities KYG BELLE INTERNATIONAL HOLDINGS 1880 HKD 1,630,000 Equities CNE100001QS1 CHINA CINDA ASSET MANAGEME-H 1359 HKD 3,058,200 Equities CNE Q4 CHINA CITIC BANK CORP LTD-H 998 HKD 1,660,300 Equities CNE G3 CHINA COMMUNICATIONS SERVI-H 552 HKD 1,700,000 Equities CNE CHINA HUARONG ASSET MANAGE-H 2799 HKD 10,572,000 10,572,000 Equities CNE100000HF9 CHINA MINSHENG BANKING-H 1988 HKD 1,007,000 Equities CNE P4 CHINA OILFIELD SERVICES-H 2883 HKD 1,446,000 Equities HK CHINA OVERSEAS LAND & INVEST 688 HKD 326,300 Equities KYG2108Y1052 CHINA RESOURCES LAND LTD 1109 HKD 382,000 Equities KYG COUNTRY GARDEN HOLDINGS CO 2007 HKD 2,088,900 Equities CNE100001TR7 FUYAO GLASS INDUSTRY GROUP-H 3606 HKD 200, ,000 Equities CNE GREAT WALL MOTOR COMPANY-H 2333 HKD 1,169,500 reporting period Feb 1, 2017 Jul 31, Sales Disposals

14 Type of security OGAW/ 166 ISIN Security title Currency Purchases Additions Equities CNE100000Q35 GUANGZHOU AUTOMOBILE GROUP-H 2238 HKD 842,000 Equities KYG4402L1510 HENGAN INTL GROUP CO LTD 1044 HKD 250,000 1,407,000 Equities CNE W8 PETROCHINA CO LTD-H 857 HKD 12,712,000 Equities KYG8020E1199 SEMICONDUCTOR MANUFACTURING 981 HKD 866,400 Equities HK SUN ART RETAIL GROUP LTD 6808 HKD 1,560,300 1,560,300 Equities KYG8878S1030 TINGYI (CAYMAN ISLN) HLDG CO 322 HKD 1,164,000 1,164,000 Equities CNE K1 TSINGTAO BREWERY CO LTD-H 168 HKD 1,250,000 1,250,000 Equities CNE ZIJIN MINING GROUP CO LTD-H 2899 HKD 13,956,000 66,683,700 Equities ID KALBE FARMA TBK PT KLBF IDR 5,058,900 5,058,900 Equities ID MATAHARI DEPARTMENT STORE TB LPPF IDR 1,668,100 Equities ID MITRA KELUARGA KARYASEHAT TB MIKA IDR 7,821,000 Equities INE917I01010 BAJAJ AUTO LTD BJAUT INR 26,100 Equities INE029A01011 BHARAT PETROLEUM CORP LTD BPCL INR 270,700 Equities INE158A01026 HERO MOTOCORP LTD HMCL INR 21,700 Equities INE148I01020 INDIABULLS HOUSING FINANCE L IHFL INR 95,500 Equities INE213A01029 OIL & NATURAL GAS CORP LTD ONGC INR 294,950 Equities INE134E01011 POWER FINANCE CORPORATION POWF INR 695,000 1,318,600 Equities INE690A01010 TTK PRESTIGE LTD TTKPT INR 35,900 Equities INE205A01025 VEDANTA LTD VEDL INR 453,900 Equities MYL5099OO006 AIRASIA BHD AIRA MYR 1,689,600 Equities MYL2488OO004 ALLIANCE FINANCIAL GROUP BHD AFG MYR 1,620,700 Equities MYL6888OO001 AXIATA GROUP BERHAD AXIATA MYR 990,000 Equities MYL5398OO002 GAMUDA BHD GAM MYR 766,500 Equities MYL5225OO007 IHH HEALTHCARE BHD IHH MYR 1,582,000 Equities MYL1295OO004 PUBLIC BANK BERHAD PBK MYR 187,400 Equities MYL4677OO000 YTL CORP BHD YTL MYR 2,590,200 Equities MYL6742OO000 YTL POWER INTERNATIONAL BHD YTLP MYR 2,946,300 Equities PHY ALLIANCE GLOBAL GROUP INC AGI PHP 4,850,000 4,850,000 Equities PHY GT CAPITAL HOLDINGS INC GTCAP PHP 51,500 Equities PHY6028G1361 METROPOLITAN BANK & TRUST MBT PHP 802,900 Equities PHY SM INVESTMENTS CORP SM PHP 40,100 Equities RU000A0JKQU8 MAGNIT PJSC MGNT RUB 14,700 Equities TH R15 BANGKOK EXPRESSWAY AND METRO BEM-R THB 2,640,400 Equities TH R14 CHAROEN POKPHAND FOODS-NVDR CPF-R THB 1,223,100 Equities TH R11 CHULARAT HOSPITAL PCL-NVDR CHG-R THB 13,000,000 Equities TH R10 INDORAMA VENTURES PCL-NVDR IVL-R THB 1,242,300 Equities TH R10 KCE ELECTRONICS - NVDR KCE-R THB 163,000 Equities TH R11 KRUNG THAI BANK - NVDR KTB-R THB 998,000 7,158,500 Equities TH R17 SINO THAI ENGR & CONSTR-NVDR STEC-R THB 1,584,000 Equities TRAEREGL91G3 EREGLI DEMIR VE CELIK FABRIK EREGL TRY 765,800 Equities TRASISEW91Q3 TURK SISE VE CAM FABRIKALARI SISE TRY 987,430 Equities TRAISCTR91N2 TURKIYE IS BANKASI-C ISCTR TRY 1,913,900 Equities GDR US67812M2070 ROSNEFT OIL CO PJSC-REGS GDR ROSN USD 676,900 Equities GDR US SEVERSTAL - GDR REG S SVST USD 217,200 Equities GDR US48122U2042 SISTEMA PJSC-REG S SPONS GDR SSA USD 145,200 Participation certificates XS BOCI FINAL PROD BCHNA 03/30/17 USD 1,799,995 Sales Disposals reporting period Feb 1, 2017 Jul 31,

15 Total return swaps and similar derivative instruments A total return swap is a credit derivative instrument. Income and fluctuations in the value of the underlying financial instrument (underlying instrument or reference asset) are exchanged for fixed interest payments. The fund did not enter into total return swaps or similar derivative instruments in the period under review. Raiffeisen Kapitalanlage-Gesellschaft m.b.h. complies with the code of conduct for the Austrian investment fund industry Vienna, 18 September 2017 reporting period Feb 1, 2017 Jul 31,

16 Appendix Imprint Publisher: Raiffeisen Kapitalanlage-Gesellschaft m.b.h. Mooslackengasse 12, A-1190 Vienna Responsible for contents: Raiffeisen Kapitalanlage-Gesellschaft m.b.h. Mooslackengasse 12, A-1190 Vienna Copyright by publisher, dispatch location: Vienna Raiffeisen Capital Management is the brand of: Raiffeisen Kapitalanlage-Gesellschaft m.b.h. Raiffeisen Immobilien Kapitalanlage-Gesellschaft m.b.h. Raiffeisen Salzburg Invest Kapitalanlage GmbH reporting period Feb 1, 2017 Jul 31,