R.C.S. Luxembourg B85.828 Audited Annual Report as at 31 January 217 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 semiannual report, if published thereafter.
Table of contents Page Management and Administration 3 Directors Report 5 Independent Auditor s Report 12 Statement of Net Assets 13 Key Figures as at 31 January 217 17 Statement of Operations and Changes in Net Assets 23 Statistics 28 Statement of Investments * DB Platinum IV Sovereign Plus 35 DB Platinum IV CROCI Euro 36 DB Platinum IV CROCI US 38 DB Platinum IV CROCI Japan 4 DB Platinum IV Systematic Alpha 41 DB Platinum IV CROCI Europe 44 DB Platinum IV GAM Absolute Return Europe Equity 46 DB Platinum IV Basso 48 DB Platinum IV Clinton Equity Strategies 52 DB Platinum IV Platow 53 DB Platinum IV Dividend Equity Risk Control 55 Notes to the Financial Statements 57 Information to Shareholders unaudited 198 * No Statement of Investments for DB Platinum IV Sovereign Optima 234 and DB Platinum IV Institutional Fixed Income as at 31 January 217, due to their structure.
Management and Administration Registered Office DB Platinum IV 1113, boulevard de la Foire L1528 Luxembourg GrandDuchy 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, L1115 Luxembourg, GrandDuchy of Luxembourg General Manager of Deutsche Bank AG, Luxembourg Branch, 2, boulevard Konrad Adenauer, L1115 Luxembourg, Grand Duchy of Luxembourg KlausMichael Vogel, Independent Director, c/o Deutsche Asset Management S.A., 2, boulevard Konrad Adenauer, L1115 Luxembourg, GrandDuchy of Luxembourg Freddy Brausch, Independent Director, c/o Linklaters LLP, 35, avenue John F. Kennedy, L1855 Luxembourg, GrandDuchy 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 AhSun, 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 L436 EschsurAlzette GrandDuchy of Luxembourg Administrative Agent, Paying Agent, Domiciliary Agent and Listing Agent RBC Investor Services Bank S.A. 14, Porte de France L436 EschsurAlzette GrandDuchy of Luxembourg Registrar and Transfer Agent RBC Investor Services Bank S.A. 14, Porte de France L436 EschsurAlzette GrandDuchy of Luxembourg Management Company Deutsche Asset Management S.A. (previously known as Deutsche Asset & Wealth Management Investment S.A.) 2, boulevard Konrad Adenauer L1115 Luxembourg GrandDuchy of Luxembourg (R.C.S. Luxembourg B25.754) 3
Management and Administration (continued) Investment Managers 1 State Street Global Advisors Limited 2 Churchill Place, Canary Wharf London E14 5HJ United Kingdom GAM Investment Management (Switzerland) Ltd Hardstrasse 21 CH837 Zurich Switzerland Basso Capital Management, L.P. 1266 East Main Street Stamford, Connecticut 692 United States of America Clinton Group, Inc. 51 Madison Avenue, 9 th floor New York City, New York 122 United States of America Veritas Institutional GmbH Messberg 4 D295 Hamburg Germany Portfolio Managers 1 Winton Capital Management Limited Grove House 27 Hammersmith Grove London W6 ONE United Kingdom Marshall Wace LLP George House, 131 Sloane Street, London, SW 1X9AT United Kingdom (until 3 December 216) Distributor Deutsche Bank AG, acting through its London branch Winchester House 1 Great Winchester Street London EC2N 2DB United Kingdom Independent Auditor of the Company Ernst & Young S.A. 35E, avenue John F. Kennedy L1855 Luxembourg GrandDuchy of Luxembourg Legal Adviser of the Company Linklaters LLP 35, avenue John F. Kennedy L1855 Luxembourg GrandDuchy of Luxembourg Capitalised terms used herein shall have the same meaning as in the current Prospectus. 1 In relation to certain SubFunds only, as further detailed in this report. 4
Directors Report The number of subfunds (the SubFunds and individually the SubFund ) in DB Platinum IV decreased during the course of the fiscal year 216217. The following SubFunds have been liquidated: DB Platinum IV Equity Factor Premia (liquidated on 14 July 216) DB Platinum IV Dynamic Cash (liquidated on 7 November 216) DB Platinum IV MW Helium (liquidated on 3 December 216) The SubFunds of DB Platinum IV cover a wide range of economic exposures: short term fixed income, bond, equity, hedge funds and commodities to both retail and institutional clients. DB Platinum IV Sovereign Plus The Investment Objective of the SubFund is to provide the Shareholders with a return linked to the performance of the Deutsche Bank Sovereign Plus Index TM. The index is intended to reflect the total return performance of two indices, the Deutsche Bank Euro Sovereign Elite Index TM (the Fixed Income Index ) and the Deutsche Bank Liquid Commodity (Mean Reversion) Euro Index TM (the Commodity Index ). The Fixed Income Index is intended to reflect the total return performance of sovereign bonds that (1) are selected from the DBIQ Global Sovereign Index, one of the Deutsche Bank Index Quantitative family of fixed income indices as published on the following website http://index.db.com and that are issued by Eurozone sovereign issuers ("Selection Pool") and that (2) have an AAA rating. The Commodity Index is intended to reflect the performance of six commodities (Crude Oil, Heating Oil, Aluminium, Gold, Wheat and Corn) which at or about the Launch Date represent some of the most liquid commodities. The Commodity Index is composed of notional amounts of each of the commodities. The minimum Fixed Income Index weight is 7% and the maximum Commodity Index weight is 3% upon such reweighting. Date 31 January 217 DB Platinum IV Sovereign Plus SubFund s Net Assets EUR 85,121,768 Share Class R1C R1CA R1D Number of Shares 313,44.87 1,134.63 427,29.69 NAV per Share EUR 142.84 EUR 99.52 EUR 94.32 DB Platinum IV CROCI Family of SubFunds The Direct Investment Objective of these SubFunds is to invest into a portfolio of securities selected on the basis of the relevant CROCI Strategy, these being the CROCI Euro Strategy, CROCI Europe Strategy, CROCI US Strategy and CROCI Japan Strategy. These Strategies will generally select a number of shares with the lowest positive CROCI Economic Price Earnings Ratio ( CROCI Economic P/Es ) from a universe comprising respectively European, US and Japanese equities by market capitalisation and for which CROCI Economic P/Es are calculated by the CROCI Investment and Valuation Group. CROCI Economic P/Es are not calculated for companies in the financial sector, which are therefore not eligible for selection. 5
Directors Report (continued) DB Platinum IV CROCI Family of SubFunds (continued) Date 31 January 217 DB Platinum IV CROCI Euro SubFund s Net Assets EUR 284,432,894 Share Class R1C R1CA R1CB R1D R2C Number of Shares 261,193.69 318,92.35 3,282.5 17,891.85 15,79.37 NAV per Share EUR 232.58 EUR 2.38 EUR 147.61 EUR 123.75 EUR 219.54 Share Class I1C I2C RCE Number of Shares 757,635.69 615.62 23,631.8 NAV per Share EUR 248.8 EUR 24,873.7 EUR 137.13 Date 31 January 217 DB Platinum IV CROCI US SubFund s Net Assets 541,789,932 Share Class R1C R1CA R1CB R1CE R2C Number of Shares 975,217.77 17,665.24 16,74.99 148,7.99 4,552.47 NAV per Share 254.64 24.29 183.71 EUR 152.11 244.96 Share Class R2CE I1C I1CE I1DE I2C Number of Shares 1,718.76 739,965.83 239.64 25,. 97.19 NAV per Share EUR 115.7 278.51 EUR 14.66 EUR 13.12 27,853. Share Class RCG RCU Number of Shares 62.11 9,733.91 NAV per Share GBP 157.32 124.27 Date 31 January 217 DB Platinum IV CROCI Japan SubFund s Net Assets JPY 4,26,3,823 Share Class R1C R1CB R1CE R2C I1C Number of Shares 14,244.41 2,311.32 6,55.32 151.49 195,663.87 NAV per Share JPY 15,591.61 JPY 1,69.84 EUR 185.75 JPY 15,179.58 JPY 17,195.25 Share Class I1CE I1CU RCG Number of Shares 9,59. 4,515.49 1,812.6 NAV per Share EUR 139.75 141.7 GBP 154.28 Date 31 January 217 DB Platinum IV CROCI Europe SubFund s Net Assets EUR 21,572,527 Share Class RCE I2CE Number of Shares 14,382. 2,643.11 NAV per Share EUR 97.29 EUR 1.54 6
Directors Report (continued) DB Platinum IV Sovereign Optima 234 The Investment Objective of the SubFund is to outperform, on an expected yield basis, a specified German sovereign bond over the lifetime of the SubFund by providing Shareholders with exposure to a notional dynamic portfolio of high grade bonds or debt securities (the Reference Assets ) and asset swap transaction(s) (the Asset Swap(s) ) on such Reference Assets. Deutsche Asset Management International GmbH, in its capacity as portfolio advisor to the Management Company, will use a rulebased strategy called the Sovereign Optima Strategy which aims to suggest the bonds comprising the Reference Assets with the highest Intrinsic Value (which is determined by using the present value of the Asset Swap spread of each such bond comprising the Reference Assets above the asset swap spread of the specified German sovereign bond) upon the date of a rebalancing, after taking into account expected transaction costs and further adjustments such as, but not limited to, liquidity or the Investment Restrictions. Date 31 January 217 DB Platinum IV Sovereign Optima 234 SubFund s Net Assets EUR 13,43,233 Share Class I1DS I2DE Number of Shares 2,. 599. NAV per Share SEK 112,737.68 EUR 132,18.6 DB Platinum IV Systematic Alpha The Investment Objective of the SubFund is to achieve longterm capital appreciation by gaining exposure to a range of financial instruments (derivatives) in accordance with a computerbased trading strategy (Strategy) designed by Winton Capital Management Limited ( Winton ). Such investments may include derivatives linked to commodities (including energy, metals and crops), share indices, tradeable debt (bonds), interest rates and currencies. In particular, the Sub Fund may invest in (i) agreements where one party agrees to buy or sell eligible assets in the future at a particular price within a fixed term (futures contracts) and agreements where one party has the option to buy or sell future contracts at a particular price within a fixed term (options), traded on recognised exchanges, (ii) foreign currency contracts, (iii) overthecounter derivatives giving exposure to financial indices and/or eligible assets (together, Derivatives Portfolio). Winton will manage the Derivatives Portfolio. In addition, the SubFund will make investments in transferable securities, including eligible commodity linked transferable securities, as are required in order that the SubFund s investments in the Derivatives Portfolio and transferable securities together give effect to the Strategy. State Street Global Advisors Limited will manage the transferrable securities. Date 31 January 217 DB Platinum IV Systematic Alpha SubFund s Net Assets 1,853,768,42 Share Class R1CA R1CC R1CE R1CG R1CN Number of Shares 36.78 4,947.97 5,752.31 372.99 3,224.66 NAV per Share EUR 1,635.52 CHF 1,485.59 EUR 11,867.88 GBP 11,399.5 NOK 91,76.27 Share Class R1CS R1CU R5CG R5CU R6CE Number of Shares 285.23 8,893.42 29.76 745.56 742.94 NAV per Share SGD 22,298.6 12,169.62 GBP 1,44.38 9,999.7 EUR 1,12.85 7
Directors Report (continued) DB Platinum IV Systematic Alpha (continued) Share Class R6CG R6CU I1CC I1CE I1DG Number of Shares 3,28.37 2,896.2 216,212.9 4,682,68.81 11,26.46 NAV per Share GBP 1,234.48 1,166.24 CHF 19.49 EUR 124.95 GBP 15.34 Share Class I1DU I1CG I1CU I5CE I5CU Number of Shares 17,8.87 74,973.13 1,7,17.78 2,323,678.83 659,333.33 NAV per Share 14.76 GBP 118.2 126.6 EUR 1.3 11.75 Share Class RCE RCG RCU I5DG R5CC Number of Shares 1,145.6 1,162.53 972.15 1,879,268.99 1. NAV per Share EUR 1,989.11 GBP 1,62.33 9,825.53 GBP 95.59 CHF 9,37.9 Share Class R5CE R6CC I5CG Number of Shares 1. 23.5 46,962.5 NAV per Share EUR 9,452.94 CHF 9,457.81 GBP 95.3 DB Platinum IV Institutional Fixed Income The Investment Objective of the SubFund is to provide the Shareholders with a fixed or variable income, depending on the Class of Shares held by the investor, until the Maturity Date of the relevant Share Class of the SubFund. The Sub Fund will also aim to provide the Shareholders with a Final Payout upon the Maturity Date of each relevant Share Class. The SubFund will enter into one or more derivative contracts with the swap counterparty(ies) to (i) swap most subscription proceeds for the return on a portfolio comprised of bonds issued by financial institutions, companies, certain special purpose vehicles and governments of certain developed countries, cash deposits and other assets determined by the SubFund's directors and (ii) swap the expected income and expected performance of that portfolio, as well as hedging certain market risks such as foreign exchange risks of the bonds against the dividend payment. Date 31 January 217 DB Platinum IV Institutional Fixed Income SubFund s Net Assets 1,286,444,588 Share Class I1D I2D I4D I5D I6D Number of Shares 2,. 1,355. 763. 2. 2,. NAV per Share EUR 11,694.32 EUR 286,971.29 EUR 189,919.52 EUR 187,64.25 EUR 9,544.43 Share Class I7D I8D Number of Shares 1,5. 1,. NAV per Share EUR 85,395.74 EUR 88,534.19 8
Directors Report (continued) DB Platinum IV GAM Absolute Return Europe Equity The Investment Objective of the SubFund is to seek capital growth via a positive longterm return in both rising and falling financial markets. To achieve the Investment Objective, GAM Investment Management (Switzerland) Ltd (the Investment Manager ) intends to take long and short positions (short positions will be achieved through derivatives only), primarily in equity securities of publicly traded companies, and may also invest in debt securities and other liquid instruments including cash and money market instruments. Date 31 January 217 DB Platinum IV GAM Absolute Return Europe Equity SubFund s Net Assets EUR 25,998,241 Share Class R1CE R1CU I1CE I1CU I1CC Number of Shares 25. 41.87 8,494.54 33,415.12 1. NAV per Share EUR 9,762.54 9,869.46 EUR 98.93 99.98 CHF 93.32 Share Class I1CG I2CE Number of Shares 315.39 142,189.89 NAV per Share GBP 92.9 EUR 1.39 DB Platinum IV Basso The Investment Objective of the SubFund is to seek capital growth via attractive riskadjusted returns. To achieve the Investment Objective, Basso Capital Management, L.P. (the Investment Manager ) will invest on a global basis in debt, equity, options, derivative contracts and other securities and instruments with an emphasis on convertible, exchangeable and other equitylinked securities. Date 31 January 217 DB Platinum IV Basso SubFund s Net Assets 131,669,782 Share Class I1CE I1CU I2CE I3CC I3CE Number of Shares 172,82.76 87,441.66 357,985.28 2,6. 187,756.87 NAV per Share EUR 11.46 13.47 EUR 12.76 CHF 1.7 EUR 12.4 Share Class I3CU I4CE I4CU R1CE R1CU Number of Shares 21,77. 262,464.67 69,763.83 1. 1. NAV per Share 14.46 EUR 11.17 12.86 EUR 1,47.51 1,255.67 Share Class R3CE R3CU R4CE R4CG R4CU Number of Shares 78.8 5. 184.83 74.73 85.51 NAV per Share EUR 1,112.42 1,242.41 EUR 1,145.91 GBP 1,28.9 1,32.82 DB Platinum IV Clinton Equity Strategies The Investment Objective of the SubFund is to seek capital appreciation while minimizing risk so as to achieve a high riskadjusted return. To achieve the Investment Objective, Clinton Group, Inc. (the Investment Manager ) will follow a systematic quantitative trading strategy that attempts to exploit pricing aberrations in equity markets based on the forecasts of its proprietary quantitative equity strategy models. Utilising these models, the Investment Manager intends to take long and short positions, predominantly in the shares of a large number of publicly traded companies. The Investment Manager seeks to generate returns primarily from individual security selection ( alpha ) as opposed to overall market exposure ( beta ). Returns are expected to be derived from both capital appreciation and investment income. 9
Directors Report (continued) DB Platinum IV Clinton Equity Strategies (continued) Date 31 January 217 DB Platinum IV Clinton Equity Strategies SubFund s Net Assets 422,8,578 Share Class I1CC I1CE I1CG I1CU I2CC Number of Shares 75,865.74 222,466.65 7,294. 1,243,678.29 3,255.38 NAV per Share CHF 88.43 EUR 89.5 GBP 9.72 94.77 CHF 92.87 Share Class I2CE I2CG I2CU I3CE I3CU Number of Shares 14,179.4 9,259.77 49,331.83 371,348.59 691,189.35 NAV per Share EUR 94.9 GBP 93.24 96.82 EUR 94.98 97.11 Share Class R1CC R1CE R1CU RCC RCE Number of Shares 46.4 1,15.27 12,884.6 147.81 23.76 NAV per Share CHF 8,733.75 EUR 8,746.15 9,368.26 CHF 8,861.24 EUR 8,967.1 Share Class RCG RCU Number of Shares 77.6 1,533.7 NAV per Share GBP 9,2.1 9,146.27 DB Platinum IV Platow The Investment Objective of the SubFund is to seek to achieve longterm capital appreciation through an allocation of the SubFund s assets to Target Securities and Reserve Assets. Pursuant to the terms of the Asset Allocation Agreement, the Management Company has appointed the Asset Allocation Adviser to propose to the Management Company a selection of investments for the SubFund pursuant to the Investment Objective and subject to the Investment Restrictions. Date 31 January 217 DB Platinum IV Platow SubFund s Net Assets EUR 114,731,269 Share Class I1C R1C Number of Shares 16,782.67 267,32.34 NAV per Share EUR 3,1.53 EUR 234.55 1
Directors Report (continued) DB Platinum IV Dividend Equity Risk Control The Investment Objective of the SubFund is capital appreciation. To achieve its Investment Objective, Veritas Institutional GmbH (the Investment Manager ) will invest into a portfolio of large cap developed market global equities (the Portfolio ) and, as the case may be, short futures positions in equity benchmark indices, such as the Euro Stoxx 5 and the S&P 5 (the Futures Positions ) aiming to reduce equity market risks. In selecting the Portfolio, the Investment Manager intends to utilise the CROCI Global Dividends Strategy (the Strategy ) licensed from Deutsche Bank AG (or any member of the Deutsche Bank group from time to time). Date 31 January 217 DB Platinum IV Dividend Equity Risk Control SubFund s Net Assets EUR 36,582,593 Share Class I1D I2D Number of Shares 179,42. 157,. NAV per Share EUR 11.7 EUR 17.24 Tracking Difference and Tracking Error The table below contains performance differences and tracking error levels realised over the period (from 1 February 216 to 31 January 217) for SubFunds and/or Share Classes which were launched before the beginning of the financial year ending 31 January 217. SubFund Name DB Platinum IV Sovereign Plus Share Class Name Currency of the Share Class Share Class Performance during the year Index performance during the year Performance Difference Realised Tracking Error of the year Anticipated Tracking Error (up to) R1C EUR.11% 1.36% (1.25%).26% 1.% R1CA EUR (1.2%) 1.36% (2.56%).25% 1.% R1D EUR.11% 1.36% (1.25%).26% 1.% The performance differences arose mainly from the allinfee of the respective Share Class. As per the above table, the level of realised tracking error was within the expected range, illustrating the effectiveness of replication techniques over the period. We anticipate that DB Platinum IV will expand its client base in 217. Luxembourg, 5 April 217 While every effort is made to ensure the accuracy of this report, should there be any material differences with the data expressed in the Prospectus and/or Product Annex, the latter will prevail. 11
DB Platinum IV Independent Auditor's Report To the Shareholders of DB Platinum IV 1113, boulevard de la Foire L1528 Luxembourg GrandDuchy of Luxembourg Following our appointment by the Annual General Meeting of the Shareholders of 15 April 216, we have audited the accompanying financial statements of DB Platinum IV and of each of its SubFunds, which comprise the Statement of Net Assets and the Statement of Investments as at 31 January 217 and the Statement of Operations and Changes in Net Assets for the year then ended, and a summary of significant accounting policies and other explanatory notes to the financial statements. Responsibility of the Board of Directors of the SICAV for the financial statements The Board of Directors of the SICAV is responsible for the preparation and fair presentation of these financial statements in accordance with Luxembourg legal and regulatory requirements relating to the preparation and presentation of the financial statements and for such internal control as the Board of Directors of the SICAV determines is necessary to enable the preparation and presentation of financial statements that are free from material misstatement, whether due to fraud or error. Responsibility of the "reviseur d'entreprises agree" Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing as adopted for Luxembourg by the "Commission de Surveillance du Secteur Financier". Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the judgement of the "reviseur d'entreprises agree", including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the "reviseur d'entreprises agree" considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors of the SICAV, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements give a true and fair view of the financial position of DB Platinum IV and of each of its SubFunds as of 31 January 217, and of the results of their operations and changes in their net assets for the year then ended in accordance with Luxembourg legal and regulatory requirements relating to the preparation and presentation of the financial statements. Other matter Supplementary information included in the annual report has been reviewed in the context of our mandate but has not been subject to specific audit procedures carried out in accordance with the standards described above. Consequently, we express no opinion on such information. However, we have no observation to make concerning such information in the context of the financial statements taken as a whole. Luxembourg, 5 April 217 12
Statement of Net Assets as at 31 January 217 DB Platinum IV Sovereign Plus DB Platinum IV CROCI Euro DB Platinum IV CROCI US DB Platinum IV CROCI Japan Note EUR EUR JPY ASSETS Investment portfolio at market value 89,374,889 Options (long position) at market (15) value Cash at bank 217,476 Amounts receivable on sale of investments Amounts receivable on subscriptions Receivable due to swap counterparty (7) Interest and dividends receivable, net 473,811 Interest receivable on CFD gain on forward foreign (11) exchange contracts gain on futures (12) Unrealised gain on swaps (7) gain on CFD (13) Other assets TOTAL ASSETS 9,66,176 285,826,53 342,144 731,466 21,75 287,11,863 539,26,28 666,126 1,978,971 18,268 216,31 1,147,797 1,25 543,216,66 4,1,21,955 26,728,242 9,258,358 4,516,761 396,25 4,51,11,566 LIABILITIES Bank overdraft Amounts payable on purchase of investments Amounts payable on redemptions 142,962 Interest payable 2 Interest payable on CFD loss on forward foreign (11) exchange contracts loss on futures (12) Unrealised loss on swaps (7) 4,687,291 loss on CFD (13) Management fee payable (5) 88,433 Performance fee payable (14) Taxes and expenses payable 25,72 Other liabilities TOTAL LIABILITIES 4,944,48 1,49,654 954,19 4 1,39 159,955 71,947 2,677,969 1,25 914,835 2 356,1 154,621 1 1,426,674 396,25 15,218,3 194 6,475,984 1,942,746 1,46,269 25,79,743 TOTAL NET ASSETS 85,121,768 284,432,894 541,789,932 4,26,3,823 The accompanying notes form an integral part of these financial statements. 13
Statement of Net Assets (continued) as at 31 January 217 DB Platinum IV Sovereign Optima 234* DB Platinum IV Systematic Alpha DB Platinum IV Institutional Fixed Income* DB Platinum IV CROCI Europe Note EUR EUR ASSETS Investment portfolio at market value Options (long position) at market (15) value Cash at bank 172,346 Amounts receivable on sale of investments Amounts receivable on subscriptions Receivable due to swap counterparty (7) 82,45,29 Interest and dividends receivable, net Interest receivable on CFD gain on forward foreign (11) exchange contracts gain on futures (12) Unrealised gain on swaps (7) 2,55,184 gain on CFD (13) Other assets TOTAL ASSETS 13,82,82 1,357,299,84 464,848,974 31,42,86 1,88,257 45,139,646 2,591,389 33,928,436 1,937,91,312 41,244 1,22,393,927 264,285,139 1,286,72,31 21,451,14 12,537 15,321 21,586,872 LIABILITIES Bank overdraft Amounts payable on purchase of investments Amounts payable on redemptions Interest payable 4 Interest payable on CFD loss on forward foreign (11) exchange contracts loss on futures (12) Unrealised loss on swaps (7) loss on CFD (13) Management fee payable (5) 17,587 Performance fee payable (14) Taxes and expenses payable 21,996 Other liabilities TOTAL LIABILITIES 39,587 7,477,82 29,984,36 1,499,363 3 157,24 2,648,782 75,536 31,85,112 83,322,892 39,699 236,23 275,722 1 1,46 7,468 5,416 14,345 TOTAL NET ASSETS 13,43,233 1,853,768,42 1,286,444,588 21,572,527 * No statements of investments as at 31 January 217 due to its structure. The accompanying notes form an integral part of these financial statements. 14
Statement of Net Assets (continued) as at 31 January 217 DB Platinum IV GAM Absolute Return Europe Equity DB Platinum IV Basso DB Platinum IV Clinton Equity Strategies DB Platinum IV Platow Note EUR EUR ASSETS Investment portfolio at market value 22,911,19 Options (long position) at market (15) value Cash at bank 3,161,272 Amounts receivable on sale of investments Amounts receivable on subscriptions Receivable due to swap counterparty (7) Interest and dividends receivable, net 129,197 Interest receivable on CFD 389 gain on forward foreign (11) exchange contracts gain on futures (12) Unrealised gain on swaps (7) gain on CFD (13) 27 Other assets 1,242,843 TOTAL ASSETS 27,444,99 15,615,258 2,348,721 22,287,656 715,47 497,141 646 1,1,96 636,862 12,241,812 145,345,463 369,572,644 46,852,21 9,997,143 1,639,35 2,171 885,154 191,451,41 62,399,29 111,395,352 3,935,764 25,394 115,946 18,355 115,877,811 LIABILITIES Bank overdraft Amounts payable on purchase of investments Amounts payable on redemptions 165,38 Interest payable 2 Interest payable on CFD 13,63 loss on forward foreign (11) exchange contracts 33,31 loss on futures (12) Unrealised loss on swaps (7) loss on CFD (13) Management fee payable (5) 26,338 Performance fee payable (14) Taxes and expenses payable 38,511 Other liabilities 1,17,145 TOTAL LIABILITIES 1,446,749 274,174 1,24,85 599,638 28,32 121,67 131,83 6,433 11,256,152 13,675,681 3,138,28 8 1,145,51 1,729,689 682,84 191,818 191,53,17 198,39,631 667,736 3,919 44 86,533 91,31 1,146,542 TOTAL NET ASSETS 25,998,241 131,669,782 422,8,578 114,731,269 The accompanying notes form an integral part of these financial statements. 15
Statement of Net Assets (continued) as at 31 January 217 DB Platinum IV Dividend Equity Risk Control Combined Note EUR EUR ASSETS Investment portfolio at market value 33,572,685 Options (long position) at market (15) value Cash at bank 3,14,775 Amounts receivable on sale of investments Amounts receivable on subscriptions Receivable due to swap counterparty (7) Interest and dividends receivable, net 3,67 Interest receivable on CFD gain on forward foreign (11) exchange contracts gain on futures (12) 12,575 Unrealised gain on swaps (7) gain on CFD (13) Other assets 2 TOTAL ASSETS 36,63,662 LIABILITIES Bank overdraft 12,575 Amounts payable on purchase of investments Amounts payable on redemptions Interest payable 28 Interest payable on CFD loss on forward foreign (11) exchange contracts loss on futures (12) Unrealised loss on swaps (7) loss on CFD (13) Management fee payable (5) 25,76 Performance fee payable (14) Taxes and expenses payable 1,39 Other liabilities TOTAL LIABILITIES 48,69 TOTAL NET ASSETS 36,582,593 2,791,918,881 2,173,333 55,952,15 11,994,188 31,664,796 1,28,452,973 3,72,519 987 44,577,17 2,414,827 265,55,95 589,575 221,526,446 4,99,392,94 7,19,69 31,142,666 15,28,998 98 1,772,967 86,543 29,38 4,687,291 1,6,526 3,988,374 121,986 1,563,267 218,218,584 285,43,47 4,623,962,533 16 The accompanying notes form an integral part of these financial statements.
Key Figures as at 31 January 217 DB Platinum IV Sovereign Plus DB Platinum IV CROCI Euro DB Platinum IV CROCI US DB Platinum IV CROCI Japan EUR EUR JPY Net asset value per share R1C R1CA R1CB R1CE (EUR) R1D R2C R2CE (EUR) I1C I1CE (EUR) I1CU () I1DE (EUR) I2C RCE RCG (GBP) RCU 142.84 99.52 94.32 232.58 2.38 147.61 123.75 219.54 248.8 24,873.7 137.13 254.64 24.29 183.71 152.11 244.96 115.7 278.51 14.66 13.12 27,853. 157.32 124.27 15,591.61 1,69.84 185.72 15,179.58 17,195.25 139.75 141.7 154.28 Number of shares outstanding R1C R1CA R1CB R1CE R1D R2C R2CE I1C I1CE I1CU I1DE I2C RCE RCG RCU 313,44.87 1,134.63 427,29.69 261,193.69 318,92.35 3,282.5 17,891.85 15,79.37 757,635.69 615.62 23,631.8 975,217.77 17,665.24 16,74.99 148,7.99 4,552.47 1,718.76 739,965.83 239.64 25,. 97.19 62.11 9,733.91 14,244.41 2,311.32 6,55.32 151.49 195,663.87 9,59. 4,515.49 1,812.6 17
Key Figures as at 31 January 217 (continued) DB Platinum IV Sovereign Optima 234 DB Platinum IV Systematic Alpha DB Platinum IV Institutional Fixed Income DB Platinum IV CROCI Europe EUR EUR Net asset value per share R1CA (EUR) R1CC (CHF) R1CE (EUR) R1CG (GBP) R1CN (NOK) R1CS (SGD) R1CU R5CC (CHF) R5CE (EUR) R5CG (GBP) R5CU R6CC (CHF) R6CE (EUR) R6CG (GBP) R6CU I1CC (CHF) I1CE (EUR) I1CG (GBP) I1CU I1D (EUR) I1DG (GBP) I1DS (SEK) I1DU I2CE I2D (EUR) I2DE I4D (EUR) I5CE (EUR) I5CG (GBP) I5CU I5D (EUR) I5DG (GBP) I6D (EUR) I7D (EUR) I8D (EUR) RCE RCE (EUR) RCG (GBP) RCU 112,737.68 132,18.6 1,635.52 1,485.59 11,867.88 11,399.5 91,76.27 22,298.6 12,169.62 9,37.9 9,452.94 1,44.38 9,999.7 9,457.81 1,12.85 1,234.48 1,166.24 19.49 124.95 118.2 126.6 15.34 14.76 1.3 95.3 11.75 95.59 1,989.11 1,62.33 9,825.53 11,694.32 286,971.29 189,919.52 187,64.25 9,544.43 85,395.74 88,534.19 1.54 97.29 18
Key Figures as at 31 January 217 (continued) DB Platinum IV Sovereign Optima 234 DB Platinum IV Systematic Alpha DB Platinum IV Institutional Fixed Income DB Platinum IV CROCI Europe Number of shares outstanding R1CA R1CC R1CE R1CG R1CN R1CS R1CU R5CC R5CE R5CG R5CU R6CC R6CE R6CG R6CU I1CC I1CE I1CG I1CU I1D I1DG I1DS I1DU I2CE I2D I2DE I4D I5CE I5CG I5CU I5D I5DG I6D I7D I8D RCE RCE RCG RCU 2,. 599. 36.78 4,947.97 5,752.31 372.99 3,224.66 285.23 8,893.42 1. 1. 29.76 745.56 23.5 742.94 3,28.37 2,896.2 216,212.9 4,682,68.81 74,973.18 1,7,17.78 11,26.46 17,8.87 2,323,678.83 46,962.5 659,333.33 1,879,268.99 1,145.6 1,162.53 972.15 2,. 1,355. 763. 2. 2,. 1,5. 1,. 2,643.11 14,382. 19
Key Figures as at 31 January 217 (continued) DB Platinum IV GAM Absolute Return Europe Equity DB Platinum IV Basso DB Platinum IV Clinton Equity Strategies DB Platinum IV Platow EUR EUR Net asset value per share R1C R1CC (CHF) R1CE (EUR) R1CE R1CU () R1CU R3CE (EUR) R3CU R4CE (EUR) R4CG (GBP) R4CU I1C I1CC (CHF) I1CE (EUR) I1CE I1CG (GBP) I1CU I1CU () I2CC (CHF) I2CE (EUR) I2CE I2CG (GBP) I2CU I3CC (CHF) I3CE (EUR) I3CU I4CE (EUR) I4CU RCC (CHF) RCE (EUR) RCG (GBP) RCU 9,762.54 9,869.46 93.32 98.93 92.9 99.98 1.39 1,47.51 1,255.67 1,112.42 1,242.41 1,145.91 1,28.9 1,32.82 11.46 13.47 12.76 1.7 12.4 14.46 11.17 12.86 8,733.75 8,746.15 9,368.26 88.43 89.5 9.72 94.77 92.87 94.9 93.24 96.82 94.98 97.11 8,861.24 8,967.1 9,2.1 9,146.27 234.55 3,1.53 2
Key Figures as at 31 January 217 (continued) DB Platinum IV GAM Absolute Return Europe Equity DB Platinum IV Basso DB Platinum IV Clinton Equity Strategies DB Platinum IV Platow Number of shares outstanding R1C R1CC R1CE R1CE R1CU R1CU R3CE R3CU R4CE R4CG R4CU I1C I1CC I1CE I1CE I1CG I1CU I1CU I2CC I2CE I2CE I2CG I2CU I3CC I3CE I3CU I4CE I4CU RCC RCE RCG RCU 25. 41.87 1. 8,494.54 315.39 33,415.12 142,189.89 1. 1. 78.8 5. 184.83 74.73 85.51 172,82.76 87,441.66 357,985.28 2,6. 187,756.87 21,77. 262,464.67 69,763.83 46.4 1,15.27 12,884.6 75,865.74 222,466.65 7,294. 1,243,678.29 3,255.38 14,179.4 9,259.77 49,331.83 371,348.59 691,189.35 147.81 23.76 77.6 1,533.7 267,32.34 16,782.67 21
Key Figures as at 31 January 217 (continued) DB Platinum IV Dividend Equity Risk Control EUR Net asset value per share I1D I2D 11.7 17.24 Number of shares outstanding I1D I2D 179,42. 157,. 22
Statement of Operations and Changes in Net Assets for the Year ended 31 January 217 DB Platinum IV Sovereign Plus DB Platinum IV Dynamic Cash (liquidated as of 7/11/16) DB Platinum IV CROCI Euro DB Platinum IV CROCI US Note EUR EUR EUR NET ASSETS AT THE BEGINNING OF THE YEAR 98,649,54 23,358,252 243,253,934 817,742,87 INCOME Dividends on shares, net Interest on bonds / CFD's bonds, net 971,957 Bank interest 1 Dividends on CFD, net Other income TOTAL INCOME 971,958 1,444,765 23 1,444,788 5,842,392 5,611 5,848,3 13,125,142 4,524 13,129,666 EXPENSES Management Company Fee (5) 1,135,929 Performance Fee (14) Subscription tax (3) 47,499 Bank charges Interest paid 1,719 Interest paid on CFD Asset Allocation Fee (4) Dividends on CFD, net Other fees Fixed Fee (6) 94,531 TOTAL EXPENSES 1,279,678 NET INCOME / (LOSS) FROM INVESTMENTS (37,72) Net realised on sales of investments 989,641 Net realised on CFD Net realised on swaps (1,252,565) Net realised on options Net realised on forward foreign exchange contracts Net realised on futures Net realised on foreign exchange 16 NET REALISED GAIN / (LOSS) (57,484) Change in net unrealised appreciation / (depreciation) on investments 1,81,346 Change in net unrealised appreciation / (depreciation) on futures Change in net unrealised appreciation / (depreciation) on forward foreign exchange contracts Change in net unrealised appreciation / (depreciation) on CFD Change in net unrealised appreciation / (depreciation) on swaps (94,312) Change in net unrealised appreciation / (depreciation) on options NET INCREASE / (DECREASE) IN NET ASSETS AS A RESULT OF OPERATIONS 29,55 54,152 4,192 31 79,881 138,256 1,36,532 1,28,217 (3,457,126) (44,588) 327,719 (983,246) (1,84,155) (185,861) 1,336,894 (916,368) 1,76,198 57,553 1,794 5,831 249,398 2,2,774 3,827,229 12,161,394 15,94 16,139,563 14,26,895 78 3,167,238 5,232,628 223,458 32 57 72,72 6,176,985 6,952,681 (23,833,819) (1,664,893) 163,363 (2,527) (18,385,195) 176,383,859 22,61 1,74,31 159,95,575 EVOLUTION OF THE CAPITAL Subscriptions of shares 371,377 Redemptions of shares (14,189,663) Dividends paid (1) Currency translation NET ASSETS AT THE END OF THE YEAR 85,121,768 21,972,127 (224,414,11) 82,896,52 (71,869,745) (15,53) 284,432,894 29,916,11 (464,444,46) (52,28) 541,789,932 Any inconsistencies on the amounts of changes in net unrealised appreciation/(depreciation) are the result of rounding differences. The accompanying notes form an integral part of these financial statements. 23
Statement of Operations and Changes in Net Assets (continued) for the Year ended 31 January 217 DB Platinum IV CROCI Japan DB Platinum IV Sovereign Optima 234 DB Platinum IV Systematic Alpha DB Platinum IV Institutional Fixed Income Note JPY EUR NET ASSETS AT THE BEGINNING OF THE YEAR 11,748,585,48 132,847,634 2,12,393,68 1,71,444,67 INCOME Dividends on shares, net 172,761,942 Interest on bonds / CFD's bonds, net Bank interest 1,874 Dividends on CFD, net Other income TOTAL INCOME 172,763,816 17,618 17,618 14,333,475 1,688,573 16,638,86 32,66,854 78,464 78,464 EXPENSES Management Company Fee (5) 41,876,17 Performance Fee (14) Subscription tax (3) 877,129 Bank charges 28,83 Interest paid 153,173 Interest paid on CFD Asset Allocation Fee (4) Dividends on CFD, net Other fees Fixed Fee (6) 7,766,388 TOTAL EXPENSES 5,71,663 NET INCOME / (LOSS) FROM INVESTMENTS 122,62,153 Net realised on sales of investments (29,466,383) Net realised on CFD Net realised on swaps Net realised on options Net realised on forward foreign exchange contracts (55,584,855) Net realised on futures 1,277,773 Net realised on foreign exchange 19,645,192 NET REALISED GAIN / (LOSS) 66,933,88 Change in net unrealised appreciation / (depreciation) on investments 442,811,97 Change in net unrealised appreciation / (depreciation) on futures (1,28,75) Change in net unrealised appreciation / (depreciation) on forward foreign exchange contracts (17,973,464) Change in net unrealised appreciation / (depreciation) on CFD Change in net unrealised appreciation / (depreciation) on swaps Change in net unrealised appreciation / (depreciation) on options NET INCREASE / (DECREASE) IN NET ASSETS AS A RESULT OF OPERATIONS 49,743,636 25,987 2,13 1,397 353,397 (335,779) 11,849,519 (4,16) 11,59,58 (6,664,1) 4,845,48 36,837,15 423,563 1,417,268 258,756 6,698,652 3,281,51 48,916,89 (16,256,36) (11,288,219) 91,817,11 (121,834,814) 14,382,38 1,289,387 (41,89,264) (142,554,177) (117,643,845) 85,828,78 9,49 (216,25,169) 462,711 34 931,957 1,394,972 (686,58) 1,4,332 (18,347,215) (8,633,391) (54,184,127) (62,817,518) EVOLUTION OF THE CAPITAL Subscriptions of shares 167,472,648 Redemptions of shares (8,38,77,869) Dividends paid (1) Currency translation NET ASSETS AT THE END OF THE YEAR 4,26,3,823 31,718,48 (63,553,956) (2,813,973) 13,43,233 1,444,48,899 (1,476,783,378) 1,853,768,42 277,817,499 1,286,444,588 Any inconsistencies on the amounts of changes in net unrealised appreciation/(depreciation) are the result of rounding differences. 24 The accompanying notes form an integral part of these financial statements.
Statement of Operations and Changes in Net Assets (continued) for the Year ended 31 January 217 DB Platinum IV Equity Factor Premia (liquidated as of 14/7/16) DB Platinum IV CROCI Europe DB Platinum IV GAM Absolute Return Europe Equity DB Platinum IV Basso Note EUR EUR EUR NET ASSETS AT THE BEGINNING OF THE YEAR 46,311,245 18,551,57 121,832,232 161,33,369 INCOME Dividends on shares, net Interest on bonds / CFD's bonds, net Bank interest Dividends on CFD, net Other income TOTAL INCOME 449,192 6 449,252 24,948 1,,223 8,393 137,431 88,969 1,259,964 111,58 5,15,549 58,483 5,32,612 EXPENSES Management Company Fee (5) 87,269 Performance Fee (14) Subscription tax (3) 2,6 Bank charges 5,397 Interest paid 1,232 Interest paid on CFD Asset Allocation Fee (4) Dividends on CFD, net Other fees 26,635 Fixed Fee (6) 32,51 TOTAL EXPENSES 154,644 NET INCOME / (LOSS) FROM INVESTMENTS (154,644) Net realised on sales of investments (18,63) Net realised on CFD Net realised on swaps 946,386 Net realised on options Net realised on forward foreign exchange contracts (284,984) Net realised on futures Net realised on foreign exchange (2,785) NET REALISED GAIN / (LOSS) 485,343 Change in net unrealised appreciation / (depreciation) on investments 3,246 Change in net unrealised appreciation / (depreciation) on futures Change in net unrealised appreciation / (depreciation) on forward foreign exchange contracts 78,326 Change in net unrealised appreciation / (depreciation) on CFD Change in net unrealised appreciation / (depreciation) on swaps (576,35) Change in net unrealised appreciation / (depreciation) on options NET INCREASE / (DECREASE) IN NET ASSETS AS A RESULT OF OPERATIONS (9,435) 8,181 2,48 56 343 19,758 12,818 346,434 (1,14,933) 665 28 (3,661) (797,287) 3,378,319 257 2,581,289 977,82 7,275 137,269 3,865 465,271 125,497 1,716,997 (457,33) (1,599,316) (4,121,8) (1,116,746) 38,942 (7,255,233) 418,471 (184,259) (1,29) (7,22,311) 1,715,535 645,593 17,643 16,391 2,493 5,85,954 3,23,713 1,444 261,192 1,976,958 (5,656,346) 1,589,941 6,278,631 (77,319) (5,37,233) (23,16) (27,477) (3,222,99) 1,688,663 (28,32) 1,663,379 2,32,695 1,846,31 4,267,836 EVOLUTION OF THE CAPITAL Subscriptions of shares 121,62 Redemptions of shares (46,423,412) Dividends paid (1) Currency translation NET ASSETS AT THE END OF THE YEAR 1,123,89 (683,421) 21,572,527 21,92,68 (11,732,36) 25,998,241 46,172,21 (8,1,624) 131,669,782 Any inconsistencies on the amounts of changes in net unrealised appreciation/(depreciation) are the result of rounding differences. The accompanying notes form an integral part of these financial statements. 25
Statement of Operations and Changes in Net Assets (continued) for the Year ended 31 January 217 DB Platinum IV Clinton Equity Strategies DB Platinum IV MW Helium (liquidated as of 3/12/16) DB Platinum IV Platow DB Platinum IV Dividend Equity Risk Control Note EUR EUR NET ASSETS AT THE BEGINNING OF THE YEAR 34,595,768 144,553,333 16,657,65 21,648,95 INCOME Dividends on shares, net Interest on bonds / CFD's bonds, net Bank interest 167,299 Dividends on CFD, net Other income 925,389 TOTAL INCOME 1,92,688 485,621 121,595 67,216 1,834,678 348 1,835,26 123,48 61 13,375 136,844 EXPENSES Management Company Fee (5) 9,555,498 Performance Fee (14) Subscription tax (3) 117,47 Bank charges 1,248,396 Interest paid 7,151 Interest paid on CFD 26,863,96 Asset Allocation Fee (4) Dividends on CFD, net 6,14,484 Other fees 8,146 Fixed Fee (6) 85,566 TOTAL EXPENSES 44,746,554 NET INCOME / (LOSS) FROM INVESTMENTS (43,653,866) Net realised on sales of investments 1,5,625 Net realised on CFD (42,87,873) Net realised on swaps Net realised on options Net realised on forward foreign exchange contracts (6,564,9) Net realised on futures Net realised on foreign exchange (57,625) NET REALISED GAIN / (LOSS) (91,312,829) Change in net unrealised appreciation / (depreciation) on investments 192,264 Change in net unrealised appreciation / (depreciation) on futures Change in net unrealised appreciation / (depreciation) on forward foreign exchange contracts 1,58,588 Change in net unrealised appreciation / (depreciation) on CFD (2,215,87) Change in net unrealised appreciation / (depreciation) on swaps Change in net unrealised appreciation / (depreciation) on options NET INCREASE / (DECREASE) IN NET ASSETS AS A RESULT OF OPERATIONS (91,755,64) 688,272 8,557 266,2 459 78 163,47 1,126,856 (519,64) (7,797,215) (1,19) (7,375,818) (15,691) (15,718,554) (8,417) (1,497,189) 31,753 (17,192,47) 967,399 35,486 19,43 668,16 19,48 1,799,379 35,647 6,111,517 41 6,147,25 4,55,24 1,22,445 113,195 686 6,113 4,155 32,533 156,682 (19,838) 487,8 (1,511,975) (77,59) (1,122,242) 3,8,261 273,229 2,159,248 EVOLUTION OF THE CAPITAL Subscriptions of shares 477,997,218 Redemptions of shares (268,829,344) Dividends paid (1) Currency translation NET ASSETS AT THE END OF THE YEAR 422,8,578 3,451,31 (13,811,957) 31,647,862 (33,776,13) 114,731,269 15,748,514 (2,58,87) (393,24) 36,582,593 Any inconsistencies on the amounts of changes in net unrealised appreciation/(depreciation) are the result of rounding differences. 26 The accompanying notes form an integral part of these financial statements.
Statement of Operations and Changes in Net Assets (continued) for the Year ended 31 January 217 Combined Note EUR NET ASSETS AT THE BEGINNING OF THE YEAR 5,335,894,5 INCOME Dividends on shares, net 21,943,2 Interest on bonds / CFD's bonds, net 22,55,94 Bank interest 1,897,3 Dividends on CFD, net 15,533,751 Other income 981,859 TOTAL INCOME 62,96,555 EXPENSES Management Company Fee (5) 56,14,25 Performance Fee (14) 597,384 Subscription tax (3) 891,838 Bank charges 2,879,92 Interest paid 293,57 Interest paid on CFD 36,227,745 Asset Allocation Fee (4) 668,16 Dividends on CFD, net 8,671,413 Other fees 35,612 Fixed Fee (6) 6,61,42 TOTAL EXPENSES 113,15,115 NET INCOME / (LOSS) FROM INVESTMENTS (5,18,56) Net realised on sales of investments (18,825,763) Net realised on CFD 47,74,456 Net realised on swaps 17,79,916 Net realised on options (71,545) Net realised on forward foreign exchange contracts (127,57,324) Net realised on futures 5,336,728 Net realised on foreign exchange (15,855,824) NET REALISED GAIN / (LOSS) (141,68,916) Change in net unrealised appreciation / (depreciation) on investments 62,283,73 Change in net unrealised appreciation / (depreciation) on futures (19,983,761) Change in net unrealised appreciation / (depreciation) on forward foreign exchange contracts 83,5,195 Change in net unrealised appreciation / (depreciation) on CFD 15,138 Change in net unrealised appreciation / (depreciation) on swaps (56,981,851) Change in net unrealised appreciation / (depreciation) on options 1,78,439 NET INCREASE / (DECREASE) IN NET ASSETS AS A RESULT OF OPERATIONS (161,544,53) EVOLUTION OF THE CAPITAL Subscriptions of shares 2,318,42,374 Redemptions of shares (2,877,299,694) Dividends paid (1) (3,73,592) Currency translation 12,195,448 NET ASSETS AT THE END OF THE YEAR 4,623,962,533 Any inconsistencies on the amounts of changes in net unrealised appreciation/(depreciation) are the result of rounding differences. The accompanying notes form an integral part of these financial statements. 27
Statistics DB Platinum IV Sovereign Plus DB Platinum IV Dynamic Cash (liquidated as of 7/11/16) DB Platinum IV CROCI Euro DB Platinum IV CROCI US Total Net Asset Value 31 January 217 31 January 216 31 January 215 EUR 85,121,768 98,649,54 135,33,865 EUR 23,358,252 461,354,986 EUR 284,432,894 243,253,934 313,32,41 541,789,932 817,742,87 2,116,822,613 NAV per share at the end of the year 31 January 217 R1C R1CA R1CB R1CE ( EUR) R1D R2C R2CE ( EUR) I1C I1CE ( EUR) I1DE ( EUR) I2C RCE RCG ( GBP) RCU 142.84 99.52 94.32 232.58 2.38 147.61 123.75 219.54 248.8 24,873.7 137.13 254.64 24.29 183.71 152.11 244.96 115.7 278.51 14.66 13.12 27,853. 157.32 124.27 NAV per share at the end of the year 31 January 216 R1C R1CA R1CB R1CE (EUR) R1D R2C R2CE (EUR) I1C I1CE (EUR) I1CU () I1DE (EUR) I2C RCE RCG (GBP) RCU 142.69 1.73 94.22 11. 1,4.32 1,453.23 26.84 18.18 132.33 112.6 196.23 22.6 22,.29 121.34 24.68 19.58 148.84 124.35 197.88 93.54 222.65 113.98 85.3 22,265.46 111.58 99.38 NAV per share at the end of the year 31 January 215 R1C R1CA R1CB R1CE (EUR) R1D R2C R2CE (EUR) I1C I1CE (EUR) I1CU () I1DE (EUR) I2C RCE RCG (GBP) RCU 151.5 18.34 13.62 11.15 1,46.71 1,4.2 24.61 18.2 131.96 111.45 195.9 216.52 21,649.41 119.43 226.62 21.73 166.12 138.9 22.2 1. 245.2 125.34 94.16 24,52.72 116.1 19.48 28
Statistics (continued) DB Platinum IV CROCI Japan DB Platinum IV Sovereign Optima 234 DB Platinum IV Systematic Alpha DB Platinum IV Institutional Fixed Income Total Net Asset Value 31 January 217 31 January 216 31 January 215 JPY 4,26,3,823 11,748,585,48 12,964,45,922 EUR 13,43,233 132,847,634 137,367,338 1,853,768,42 2,12,393,68 1,434,397,538 1,286,444,588 1,71,444,67 83,53,73 NAV per share at the end of the year 31 January 217 R1C R1CA ( EUR) R1CB R1CC ( CHF) R1CE ( EUR) R1CG ( GBP) R1CN ( NOK) R1CS ( SGD) R1CU R2C R5CC ( CHF) R5CE ( EUR) R5CG ( GBP) R5CU R6CC ( CHF) R6CE ( EUR) R6CG ( GBP) R6CU I1C I1CC ( CHF) I1CE ( EUR) I1CG ( GBP) I1CU I1CU ( ) I1D ( EUR) I1DG ( GBP) I1DS ( SEK) I1DU I2D ( EUR) I2DE I4D ( EUR) I5CE ( EUR) I5CG ( GBP) I5CU I5D ( EUR) I5DG ( GBP) I6D ( EUR) I7D ( EUR) I8D ( EUR) RCE ( EUR) RCG ( GBP) RCU 15,591.61 1,69.84 185.72 15,179.58 17,195.25 139.75 141.7 154.28 112,737.68 132,18.6 1,635.52 1,485.59 11,867.88 11,399.5 91,76.27 22,298.6 12,169.62 9,37.9 9,452.94 1,44.38 9,999.7 9,457.81 1,12.85 1,234.48 1,166.24 19.49 124.95 118.2 126.6 15.34 14.76 1.3 95.3 11.75 95.59 1,989.11 1,62.33 9,825.53 11,694.32 286,971.29 189,919.52 187,64.25 9,544.43 85,395.74 88,534.19 29
Statistics (continued) DB Platinum IV CROCI Japan DB Platinum IV Sovereign Optima 234 DB Platinum IV Systematic Alpha DB Platinum IV Institutional Fixed Income JPY EUR NAV per share at the end of the year 31 January 216 R1C R1CA (EUR) R1CB R1CC (CHF) R1CE (EUR) R1CG (GBP) R1CN (NOK) R1CS (SGD) R1CU R2C R5CC (CHF) R5CE (EUR) R5CG (GBP) R5CU R6CC (CHF) R6CE (EUR) R6CG (GBP) R6CU I1C I1CC (CHF) I1CE (EUR) I1CG (GBP) I1CU I1CU () I1D (EUR) I1DG (GBP) I1DS (SEK) I1DU I2D (EUR) I2DE I4D (EUR) I5CE (EUR) I5CU I5D (EUR) I5DG (GBP) I6D (EUR) RCE (EUR) RCG (GBP) RCU 13,563.99 9,33.52 164.28 13,27.57 14,879.18 122.44 122.61 11.13 18,31.12 132,25.15 11,664.95 11,538.45 12,978.84 12,28. 98,841.92 24,18. 13,126.68 1,297.43 1,32.68 1,821.4 1,767.93 1,316.6 1,844.17 1,935.91 1,866.53 119.47 135.43 126.44 134.89 112.65 112.1 18.53 18.72 12.3 11,935.33 11,348.95 1,518.9 14,998.91 297,82.98 185,387.68 198,831.73 97,73.4 3
Statistics (continued) DB Platinum IV CROCI Japan DB Platinum IV Sovereign Optima 234 DB Platinum IV Systematic Alpha DB Platinum IV Institutional Fixed Income JPY EUR NAV per share at the end of the year 31 January 215 R1C R1CA (EUR) R1CB R1CC (CHF) R1CE (EUR) R1CG (GBP) R1CN (NOK) R1CS (SGD) R1CU R2C R5CG (GBP) R5CU R6CE (EUR) R6CG (GBP) R6CU I1C I1CC (CHF) I1CE (EUR) I1CG (GBP) I1CU I1CU () I1D (EUR) I1DG (GBP) I1DS (SEK) I1DU I2C I2D (EUR) I2DE I4D (EUR) I5CE (EUR) I5CU I5D (EUR) RCE (EUR) RCG (GBP) 14,66.76 9,724.6 171.62 13,829.78 15,346.3 126.82 126.87 1,142,652. 11.6 113,85.57 136,641.54 11,856.39 11,763.92 13,11.11 12,349.5 98,565.69 24,12.78 13,253.42 1,875.26 1,854.48 1,887.86 1,89.76 1,874.61 121.15 135.93 126.1 135.13 112.34 112.3 18.9 18.75 11,991.32 11,31.6 16,84.87 328,345.51 193,858.14 23,614.52 31