盧森堡商業暨公司登記處登記編號 B94.920 Allianz Global … · 2) For the period from 01/07/2014 to 30/09/2014 2) 2014 年7 月1日至 4 9 30 日之期間 For additional

2014 年 9 月 30 日經查核之年報

RP Rendite Plus

變動資本投資公司盧森堡商業暨公司登記處登記編號 B94.920

Allianz Global Investors GmbH

RP Rendite Plus

2

一般資訊

RP Rendite Plus(下稱「本公司」)是依據盧森堡大公國法律設

立的開放式變動股本投資公司。本公司經盧森堡金融業監管委

員會(Commission de Surveillance du Secteur Financier，簡稱

CSSF)核准成立為「變動資本投資公司」(SICAV)，其公開說

明書與管理規則係符合《2010年 12月 17日盧森堡集合投資事

業法》第 I篇之範疇(第 2009/65/EC號指令所定義之 UCITS)。

本公司成立於 2003年 7月 31日。

本公司已設立各檔不同的子基金，各子基金分別發行多種類股

之股份。每一檔子基金分別有其獨立的資產組合及獨立的帳目

記錄。2014年 9月 30 日，可供申購及贖回的子基金如下：

- 德盛安聯亞太高息股票基金(基金之配息來源可能為本金)

本年報所呈現的數據是關於 2013年 10月 1日至 2014年 9月 30

日之財報期間，該等數據不必然代表各子基金之未來走勢。

本年報不構成子基金之股份申購要約或申購招攬。僅在依據現

行公開說明書與組織章程，連同投資人重要資訊並輔以經會計

師查核之最近期年報之下，所為之申購始發生效力。若最近期

年報公告日期已逾八個月，則亦須輔以最近期之半年報。

公開說明書、本公司章程、投資人重要資訊以及各年報及半年

報，可向經理公司、保管機構以及任何付款及資訊代理人免費

索取。

RP Rendite Plus

由 Allianz Global Investors GmbH 代辦

6A, route de Trèves

L-2633 Senningerberg

網址：www.allianzglobalinvestors.lu

電子信箱： [email protected]

http://www.allianzglobalinvestors.lu/mailto:[email protected]

RP Rendite Plus [鍵入文字] [鍵入文字]

3

本公司股東重要須知經理公司之合併

2014年 3月 24日，合併公司(Allianz Global Investors Europe

GmbH)管理階層與受合併公司(Allianz Global Investors

Luxembourg S.A.)管理階層決定依據 1915年 8月 10日盧森堡

商業公司法暨其修訂版本第 261條以降以及德國改造法

(UmwG) 第 2條以降、第 46條以降及第 122a條以降之規定

進行跨國合併，將受合併公司併入合併公司。

合併計畫之草擬是依據遵照歐盟 2005/56/EC指令定義之跨國

合併而立法之盧森堡與德國法律有關合併之條文，並於 2014

年 4月 12日向盧森堡大公國公報 Memorial, Recueil des

Sociétés et Associations(簡稱「Memorial」)申報。該合併案

於 2014年 7月 1日生效。此合併對股東並無任何負面影響。

公開說明書之修訂

本公司董事會決定針對公開說明書作如下修訂，於 2014年 7月

1日生效。

– 針對類股採行單一行政管理費，費率如下：

- 德盛安聯亞太高息股票基金- 類股 A (EUR) 年率 2.05%

- 德盛安聯亞太高息股票基金- 類股 CT (EUR) 年率 2.05%

- 德盛安聯亞太高息股票基金- 類股 I (EUR) 年率 0.90%

- 德盛安聯亞太高息股票基金- 類股 I (H-EUR) (EUR) 年率 0.95%

- 德盛安聯亞太高息股票基金- 類股 W (H-EUR) (EUR) 年率 0.70%

RP Rendite Plus

4

目錄

投資政策及子基金資產

德盛安聯亞太高息股票基金 (基金之配息來源可能為本金)………………………………………………………5

本公司合併財務報表 …………………………………………………………………………………………………7

營業概況表

淨資產表

子基金財務報表

投資組合

營業概況表

淨資產表

德盛安聯亞太高息股票基金 (基金之配息來源可能為本金)…………………………………………………………8

備註：本文件是原德文年報英文譯本之中文翻譯，倘有任何歧異，請以德文原本為準。

RP Rendite Plus 德盛安聯亞太高息股票基金

5

德盛安聯亞太高息股票基金

(基金之配息來源可能為本金)

2014年，股市再度受到全球總體經濟因素的主宰。儘管美國

經濟成長轉強，但債券殖利率走升與風險規避之間的拔河又再

次影響全球投資人心理。歐洲面臨嚴峻挑戰，尤其是俄羅斯對

烏克蘭發動攻擊之後。亞洲市場趨勢則表現分歧，2013年表

現落後的市場這一年內顯著反彈，特別是印度，其新任總理莫

迪開始整頓經濟。相形之下，中國改革進程落後，這是因為肅

貪行動開始展開，此舉遏制了投資活動。

本子基金於財報期間內表現不如參考指標。對印度的投資部位

不足以致產生不利的成效，而過高的中國部位又無法提供支撐。

電信、公用事業及能源類股對績效有大幅助益，但卻因金融、

週期性消費品及科技產業表現不佳而被抵銷。

r未來幾年，亞洲將會經歷激烈的政治變革。快速經濟成長的

年代已經結束，不再復返，下一個階段將取決於「3 R」(改

革(reform)、再造(restructuring)及重新評等(re-rating))。亞洲

經濟體必須進行改革，不能僅單獨注重經濟成長，亦即企業

必須再造。由於更高的經濟成長率與更高的利率兩者間最後

勢必扞格，因此全球總經主題亦將持續扮演要角，而我們則

必須據此找到定位。

財報期間的實際績效，可參閱「子基金績效」表格(翻譯

略)。

本子基金的詳細內容，請參閱公開說明書及投資人

重要資訊。

淨資產之配置(%)

50

40

30

20

10

0

27 .20 24 .77

15 .91

11 .99

5 .14 4 .43 6 .82 3 .

澳洲中國香港南韓新加坡台灣其他國家現金準備、其

他資產


6

子基金數據

30/09/2014 30/09/2013 30/09/2012 30/09/2011 子基金資產(百萬歐元) 248.1 196.4 232.6 157.6 流通股數 1) 3,605,870 847,911 1,220,066 876,88

8 每股資產淨值(歐元) - 類股 A (EUR) (配息) 2) WKN: A0F 6SA/ISIN: LU0229176416 118.45 111.78 108.87 --

- 類股 AM (EUR) (配息) 4) WKN: A11 3B9/ISIN: LU1063948902 10.50 -- -- --

- 類股 CT (EUR) (累積) 3) WKN: A0M MVR/ISIN: LU0290518447 109.07 101.28 -- --

- 類股 I (EUR) (配息) WKN: A0F 6SB/ISIN: LU0229176689 143.76 135.73 131.56 105.57

- 類股 I (H-EUR) (配息) WKN: A0K E2B/ISIN: LU0263903469 995.85 992.47 910.74 812.59

- 類股 W (H-EUR) (配息) WKN: A0L AS2/ISIN: LU0266665115 863.69 890.18 849.11 757.03

每股資產淨值(美元) -類股 AM (USD) (配息) 4) WKN: A11 3CA/ISIN: LU1063949389 9.78 -- -- --

1) Accumulated figures for open share classes on the reporting date.

1) 報告日當天公開發行類股的累計數值。

2) Launch date: 18 January 2012

2) 成立日期：2012 年 1 月 18 日。

3) Launch date: 2 September 2013

3) 成立日期：2013 年 9 月 2 日。

4) Launch date: 2 June 2014

4) 成立日期：2014 年 6 月 2 日。


7

本公司合併財務報表營業概況表

2013 年 10月 1日至 2014年 9月 30日

利息

歐元

淨資產表

2014 年 9月 30日

證券及貨幣市場工具

歐元

-債券 6,020,366.74

-交換交易 2,150.65

-存放於銀行之現金 15,098.51

股利 8,373,105.79

收入：

- 投資單位 8,082.00

其他收入 4,445.48

收入合計 14,423,249 .17

支付之利息：

-交換交易 -6,539.51

-對銀行之負債 -7,090.75

經理及中央行政代理費 1) -2,467,964.80

行政費 1) -512,196.82

銷售成本 1) -211,639.43

保管費 -81,272.79

認購稅(Taxe d’Abonnement) -106,819.51

單一行政管理費 2) -1,563,085.55

會計師及其他支出 -142,854.09

支出合計 -5,099,463 .25

經常利益/損失之均化 1,168,931.74

淨利益/損失 10,492,717 .66

已實現之利得/損失

- 選擇權交易 -204,286.29

- 證券交易 15,812,227.72

- 金融期貨合約 18,242.58

- 遠期外匯交易 630,416.69

- 匯兌 -6,830,584.08

- 交換交易 -126,625.19

已實現淨利得/損失之收入均化 932,757.55

已實現淨利得/損失 20,724,866 .64

未實現之增值/貶值變動數：

- 選擇權交易 10,886.90

- 證券交易 15,936,677.26

- 金融期貨交易 82,168.00

- 遠期外匯交易 -4,974,526.41

- 匯兌 140,178.06

- 交換交易 119,054.32

營業損益 32,039,304 .77

1) For the period from 01/10/2013 to 30/06/2014

1) 2013 年 10 月 1 日至 2014 年 6 月 30 日之期間


2) 2014 年 7 月 1 日至 2014 年 9 月 30 日之期間

For additional information please refer to the section “Important notice to our

shareholders”.

更多資訊，請參考「本公司股東重要須知」一節。

(成本價 565,590,648.67 歐元) 595,210,024.85

銀行存款 18,999,006.42

購買選擇權支付之權利金 38,769.14

應收利息

-債券 3,392,763.94

應收股息 948,037.02

應收款項

-申購基金單位 1,511,198.11

-證券交易 3,521,762.51

其他應收款項 12,638.50

未實現利得

-選擇權交易 99,758.00

-期貨交易 163,596.14

-遠期外匯交易 813,301.48

資產合計 624,710,856.11

對銀行負債 -101,306.28

賣出選擇權收取之權利金 -8,976.43

交換交易收取之期初金額 -267.57

應付款項

-基金股份贖回 -511,606.53

-證券交易 -2,862,044.16

其他應付款項 -664,360.13

未實現損失

-選擇權交易 -10,966.56

-期貨交易 -505,988.88

-遠期外匯交易 -4,036,846.07

負債及權益合計 -8,702,362.61

基金資產 616,008,493 .50

第 11頁所列的子基金財務報表合併構成以上所示的本公司財務報表。各附註構成財務報表不可或缺的一部分。

8

德盛安聯亞太高息股票基金 (基金之配息來源可能為本金)

2014 年 9 月 30 日投資組合

ISIN 證券股份/

幣別(單位：千) /

合約數

取得處分持有部位

30/09/2014 價格市值(歐元) 占基金資

產比重

(%)

(財報期間) 證券交易所掛牌之證券及貨幣市場工具 238,225,393 .36 96 .01

股票 224,678,461 .55 90 .55 Australia 62,517,581 .76 25 .20 AU000000AMC4 Amcor Australia STK 293,400 193,900 639,300 AUD 11.330 4,999,438.20 2.02

AU000000BOQ8 Bank of Queensland STK 689,466 170,400 519,066 AUD 11.640 4,170,250.60 1.68

AU000000BHP4 BHP Billiton STK 117,400 226,000 128,100 AUD 33.870 2,994,683.41 1.21

AU000000BSL0 BlueScope Steel STK 767,648 221,600 1,019,848 AUD 5.420 3,815,235.28 1.54

AU000000BXB1 Brambles STK 869,300 317,800 1,195,200 AUD 9.520 7,853,515.82 3.17

AU000000CGF5 Challenger STK 735,569 235,900 1,062,507 AUD 7.120 5,221,537.29 2.10

AU000000CPU5 Computershare STK 501,700 55,600 446,100 AUD 12.160 3,744,142.66 1.50

AU000000GMA5 Genworth Mortgage Insurance STK 626,680 199,440 427,240 AUD 3.420 1,008,520.20 0.41

AU000000QBE9 QBE Insurance Group STK 880,778 58,500 1,221,835 AUD 11.660 9,833,264.07 3.96

AU000000SKI7 Spark Infrastructure Group STK 1,167,50

7

1,532,200 1,167,507 AUD 1.840 1,482,736.25 0.60

AU000000SPO4 Spotless Group Holdings STK 7,284,649

1,787,867 5,496,782 AUD 1.810 6,867,104.85 2.77

AU000000SUN6 Suncorp Group STK 107,400 384,800 401,112 AUD 14.040 3,887,043.07 1.57

AU000000TLS2 Telstra STK 602,400 32,100 570,300 AUD 5.300 2,086,247.51 0.84

AU000000VET1 Vocation STK 1,399,80

9

212,000 1,187,809 AUD 2.400 1,967,634.57 0.79

AU000000WES1 Wesfarmers STK 186,176 235,490 88,875 AUD 42.160 2,586,227.98 1.04 China 61,447,136 .50 24 .77 CNE100000Q43 Agricultural Bank of China -H- STK 9,587,00

0 2,098,000 14,108,000 HKD 3.440 4,942,397.97 1.99

CNE1000001W2 Anhui Conch Cement -H- STK 914,500 914,500 HKD 24.700 2,300,352.98 0.93 CNE1000001Z5 Bank of China -H- STK 20,900,00

0

5,165,000 21,384,000 HKD 3.470 7,556,701.02 3.05

CNE100001QS1 China Cinda Asset Management -H- STK 13,884,000

3,531,000 10,353,000 HKD 3.420 3,605,837.40 1.45

CNE1000002H1 China Construction Bank -H- STK 4,768,00

0

835,000 7,767,000 HKD 5.450 4,310,857.10 1.74

CNE100001NP4 China Machinery Engineering -H- STK 1,902,000 3,060,000 HKD 4.460 1,389,856.95 0.56 CNE100000HF9 China Minsheng Banking -H- STK 1,462,90

0 1,079,500 3,020,900 HKD 7.100 2,184,281.04 0.88

CNE1000002V2 China Telecom -H- STK 7,430,00

0 7,430,000 HKD 4.760 3,601,717.00 1.44

CNE1000019K9 Haitong Securities -H- STK 3,826,000

6,012,000 HKD 11.980 7,334,822.51 2.96

CNE1000006Z4 Huaneng Power International -H- STK 4,752,00

0

3,712,000 8,314,000 HKD 8.480 7,179,921.43 2.89

CNE1000003G1 Industrial & Commercial Bank of China -H- STK 6,861,000

4,629,000 13,491,000 HKD 4.830 6,635,980.36 2.68

CNE1000003J5 Jiangsu Expressway -H- STK 1,832,000 3,792,000 HKD 8.150 3,147,311.70 1.27 CNE1000003X6 Ping An Insurance Group -H- STK 318,000 548,000 616,000 HKD 58.400 3,663,594.33 1.48

CNE100000478 Shenzen Expressway -H- STK 6,734,000 6,734,000 HKD 5.240 3,593,504.71 1.45 Hong Kong 38,842,179 .35 15 .66 HK0000069689 AIA Group STK 203,800 966,400 596,800 HKD 40.150 2,440,215.51 0.98

KYG0535Q1331 ASM Pacific Technology STK 645,500 645,500 HKD 76.850 5,051,890.60 2.04 HK0144000764 China Merchants Holdings International STK 1,724,00

0 486,000 1,238,000 HKD 24.000 3,025,838.23 1.22

HK0688002218 China Overseas Land & Investment STK 2,190,00

0

386,000 1,804,000 HKD 19.960 3,666,999.82 1.48

HK0000093390 HKT Trust and HKT -SS- STK 2,937,140

2,937,140 HKD 9.380 2,805,700.47 1.13

KYG459951268 Hopewell Highway Infrastruct STK 1,035,000 4,486,000 CNH 3.000 1,724,604.29 0.70 HK0013000119 Hutchison Whampoa STK 276,000 200,000 505,000 HKD 94.000 4,834,293.91 1.94

BMG5485F1692 Li & Fung STK 3,072,000

1,364,000 2,738,000 HKD 8.820 2,459,324.57 0.99

HK0008011667 PCCW STK 14,982,00

0

8,699,000 14,982,000 HKD 4.890 7,460,921.51 3.01

HK0016000132 Sun Hung Kai Properties STK 286,000 23,000 263,000 HKD 110.100 2,948,878.55 1.19

HK0019000162 Swire Pacific -A- STK 60,000 47,000 237,500 HKD 100.200 2,423,511.89 0.98

Macao 2,317,955 .84 0 .93

KYG7800X1079 Sands China STK 562,000 562,000 HKD 40.500 2,317,955.84 0.93

Malaysia 3,093,717 .05 1 .25

MYL5347OO009 Tenaga Nasional STK 143,700 969,600 1,036,700 MYR 12.380 3,093,717.05 1.25

New Zealand 2,015,805 .58 0 .81 NZMETE0001S2 Metlifecare STK 1,026,220 662,400 363,820 NZD 4.600 1,027,157.09 0.41

NZZELE0001S1 Z Energy STK 46,700 855,000 406,775 NZD 3.960 988,648.49 0.40 Singapore 12,753,703 .93 5 .14 SG2F77993036 Asian Pay Television Trust STK 10,021,000 723,000 19,924,000 SGD 0.825 10,200,930.07 4.11

SG1T75931496 Singapore Telecommunications STK 626,000 937,000 1,074,000 SGD 3.830 2,552,773.86 1.03 South Korea 29,764,057 .23 11 .99 KR7114090004 Grand Korea Leisure STK 146,145 68,260 77,885 KRW 41,950.000 2,448,371.51 0.99

KR7086790003 Hana Financial Group STK 45,335 118,176 81,339 KRW 38,500.000 2,346,664.95 0.95

KR7105560007 KB Financial Group STK 81,944 81,944 KRW 38,550.000 2,367,189.75 0.95 KR7006650006 Korea Petrochemical STK 34,224 36,982 KRW 72,000.000 1,995,328.56 0.80 KR7030200000 KT STK 200,789 124,670 189,259 KRW 34,300.000 4,864,544.60 1.96

KR7033780008 KT&G STK 10,453 13,231 35,451 KRW 94,500.000 2,510,451.45 1.01

KR7034220004 LG Display STK 69,160 29,594 39,566 KRW 34,000.000 1,008,074.41 0.41

KR7055550008 Shinhan Financial Group STK 130,014 130,014 KRW 48,600.000 4,734,977.48 1.91 KR7017670001 SK Telecom STK 6,990 10,760 34,459 KRW 290,000.000 7,488,454.52 3.01

9

股份/ 取得處分持有部位價格未實現占本子基金

幣別(單位：千)/

合約數

(財報期間)

30/09/2014 利得/損失資產比重(%)

2014 年 9 月 30 日投資組合

ISIN 證券股份/

幣別(單位：千) /

合約數

取得處分持有部位

30/09/2014 價格市值(歐元) 占本子基

金資產比

重(%) (財報期間)

Taiwan 11,002,197 .14 4 .43 TW0002882008 Cathay Financial Holding STK 2,085,450 2,085,450 TWD 49.550 2,686,199.47 1.08 TW0002823002 China Life Insurance STK 3,191,700 3,191,700 TWD 25.100 2,082,526.82 0.84 TW0002324001 Compal Electronics STK 3,443,000 888,000 6,468,000 TWD 22.750 3,825,130.27 1.54

TW0002881000 Fubon Financial Holding STK 488,000 337,000 1,983,838 TWD 46.700 2,408,340.58 0.97

United Kingdom 924,127 .17 0 .37

GB0005405286 HSBC Holdings STK 582,000 114,000 HKD 79.600 924,127.17 0.37

參與股份 8,573,320 .89 3 .46

Ireland 4,882,791 .97 1 .97

AU000000JHX1 James Hardie Industries (CDI‘s) STK 601,800 10,800 591,000 AUD 11.970 4,882,791.97 1.97

Thailand 3,690,528 .92 1 .49

TH0143010R16 Land & House Pub (NVDR‘s) STK 14,532,900 14,532,900 THB 10.400 3,690,528.92 1.49

REITs (不動產投資信託) 4,973,610 .92 2 .00

Australia 4,973,610 .92 2 .00

AU000000LLC3 Lend Lease Group Real Estate Investment Trust STK 275,700 61,800 502,500 AUD 14.340 4,973,610.92 2.00

其他證券及貨幣市場工具 629,888 .43 0 .25

債券 629,888 .43 0 .25

Hong Kong 629,888 .43 0 .25

- 1.0000 % CHN Merchandise HKD FLR-Notes 14/17 HKD 204.4 204.4 % 3,026.000 629,888.43 0.25

證券及貨幣市場工具合計 238,855,281 .79 96 .26

存放於金融機構之存款 10,811,928 .52 4 .36

即期存款 10,811,928 .52 4 .36

State Street Bank GmbH. Luxembourg Branch EUR 10,811,928.52 4.36

存放於金融機構之存款合計 10,811,928 .52 4 .36

證券

衍生性金融商品

標示減號的持有部位指空頭部位。

店頭市場交易之衍生性金融商品 -3,141,476 .79 -1 .24

遠期外匯交易 -3,141,476 .79 -1 .24 Sold EUR / Bought HKD - 08 Oct 2014 EUR -6,081,612.53 274,094.55 0.11

Sold EUR / Bought IDR - 08 Oct 2014 EUR -759,764.21 11,067.24 0.01

Sold EUR / Bought TWD - 08 Oct 2014 EUR -6,134,048.51 94,039.41 0.04

Sold EUR / Bought KRW - 08 Oct 2014 EUR -11,024,568.01 115,228.29 0.05

Sold AUD / Bought EUR - 08 Oct 2014 AUD -35,443,576.00 -78,841.84 -0.03

Sold HKD / Bought EUR - 08 Oct 2014 HKD -348,124,355.00 -2,507,773.30 -1.01

Sold KRW / Bought EUR - 08 Oct 2014 KRW -14,870,424,384.00 -387,176.53 -0.16

Sold TWD / Bought EUR - 08 Oct 2014 TWD -239,586,981.00 -154,075.80 -0.06

Sold EUR / Bought AUD - 08 Oct 2014 EUR -4,226,838.78 -28,378.00 -0.01

Sold NZD / Bought EUR - 08 Oct 2014 NZD -1,946,297.00 38,934.16 0.02

Sold EUR / Bought USD - 08 Oct 2014 EUR -736,767.42 47,841.13 0.02

Sold EUR / Bought MYR - 08 Oct 2014 EUR -1,355,653.89 5,258.15 0.00

Sold EUR / Bought THB - 08 Oct 2014 EUR -716,017.95 2,421.60 0.00

Sold EUR / Bought PHP - 09 Jan 2015 EUR -104,049.82 800.35 0.00

Sold MYR / Bought EUR - 08 Oct 2014 MYR -5,648,313.00 -78,345.73 -0.03

Sold IDR / Bought EUR - 08 Oct 2014 IDR -11,890,323,802.00 -49,392.90 -0.02

Sold PHP / Bought EUR - 08 Oct 2014 PHP -28,230,554.00 -23,553.70 -0.01

Sold USD / Bought EUR - 08 Oct 2014 USD -1,007,120.00 -61,059.98 -0.02

Sold SGD / Bought EUR - 08 Oct 2014 SGD -6,038,898.00 -190,745.46 -0.08

Sold THB / Bought EUR - 08 Oct 2014 THB -29,432,548.00 -31,003.79 -0.01

Sold EUR / Bought NZD - 08 Oct 2014 EUR -571,876.46 -15,944.61 -0.01

Sold EUR / Bought PHP - 08 Oct 2014 EUR -393,777.00 -1,623.61 0.00

Sold TWD / Bought EUR - 09 Jan 2015 TWD -155,754,990.00 -19,918.54 -0.01

Sold CNY / Bought EUR - 09 Jan 2015 CNY -5,701,110.00 -6,816.52 0.00

Sold THB / Bought EUR - 09 Jan 2015 THB -29,432,548.00 -2,972.71 0.00

Sold KRW / Bought EUR - 09 Jan 2015 KRW -11,502,240,308.00 -29,498.62 -0.01

Sold MYR / Bought EUR - 09 Jan 2015 MYR -4,279,142.00 -2,743.24 0.00

Sold CNH / Bought EUR - 08 Oct 2014 CNH -5,701,110.00 -61,296.78 -0.02

衍生性金融商品合計 -3,141,476 .79 -1 .24

其他資產/負債 EUR 1,551,249 .23 0 .62

本子基金淨資產 EUR 248,072,933 .57 100 .00

10

每股資產淨值 - 類股 A (EUR) (配息) EUR 118.45

- 類股 AM (EUR) (配息) EUR 10.50

- 類股 CT (EUR) (累積) EUR 109.07

- 類股 I (EUR) (配息) EUR 143.76

- 類股 I (H-EUR) (配息) EUR 995.85

- 類股 W (H-EUR) (配息) EUR 863.69

- 類股 AM (USD) (配息) USD 9.78

流通股數 - 類股 A (EUR) (配息) STK 257,933

- 類股 AM (EUR) (配息) STK 74,880

- 類股 CT (EUR) (累積) STK 202,589

- 類股 I (EUR) (配息) STK 750,821

- 類股 I (H-EUR) (配息) STK 29,412

- 類股 W (H-EUR) (配息) STK 46,397

- 類股 AM (USD) (配息) STK 2,243,838

財報期間內投資組合成分之詳細變動資訊，可向 Allianz Global Investors GmbH - 盧森堡分行免費索取。

11

營業概況表

2013 年 10月 1日至 2014年 9月 30日

利息

歐元

本子基金淨資產表

2014 年 9月 30日

證券及貨幣市場工具

歐元

-存放於銀行之現金 218.61

股利 6,697,797.95

收入合計 6,698,016.56

支付之利息：

-對銀行之負債 -3,792.74

經理及中央行政代理費 1) -875,936.56

行政費 1) -264,107.37

認購稅(Taxe d’Abonnement) -26,580.44

單一行政管理費 2) -532,280.19

支出合計 -1,702,697 .30

經常利益/損失之均化 901,731.67

淨利益/損失 5,897,050 .93

已實現之利得/損失

-證券交易 11,430,113.86

-遠期外匯交易 2,009,289.43

-匯兌 -5,914,943.49

已實現淨利得/損失之收入均化 239,015.58

已實現淨利得/損失 13,660,526 .31

未實現之增值/貶值變動數：

-證券交易 3,199,261.96

-遠期外匯交易 -5,253,379.32

-匯兌 75,089.12

營業損益 11,681,498 .07


1) 2013 年 10 月 1 日至 2014 年 6 月 30 日之期間


2) 2014 年 7 月 1 日至 2014 年 9 月 30 日之期間


shareholders”.

更多資訊，請參考「本公司股東重要須知」一節。

(成本價 227,008,189.14 歐元) 238,855,281.79

銀行存款 10,807,879.34

應計股利 742,079.47

應收款項

-申購基金單位 1,496,742.21

未實現利得

-遠期外匯交易 589,684.87

資產合計 252,491,667 .68

應付款項

-基金股份贖回 -454,976.39

其他應付款項 -232,596.06

未實現損失

-遠期外匯交易 -3,731,161.66

負債及權益合計 -4,418,734 .11

本子基金資產 248,072,933

Audited Annual Report

as at 30 September 2014

RP Rendite Plus

Société d’Investissement à Capital Variable

R.C.S. Luxembourg Nr. B94.920

Funds authorised in Taiwan available to the Taiwan public

only. Allianz Global Investors GmbH

(the legal successor of

Allianz Global Investors Luxembourg S.A. since 1

July 2014)

RP Rendite Plus

General Information

RP Rendite Plus (the “Company”) is incorporated under the laws of the

Grand Duchy of Luxembourg as an open-ended investment company

with variable share capital. The Company is authorised by the

Commission de Surveillance du Secteur Financier as a “Société

d’Investissement à Capital Variable” (SICAV) whose sales prospectus

and management regulations fall within the scope of Part I of the

Luxembourg Law of 17 December 2010 on Undertakings for

Collective Investment (UCITS as defined by Directive 2009/65/EC).

The Company was formed on 31 July 2003.

The Company has launched different subfunds, which have issued

shares in multiple classes. A separate pool of assets and separate

accounting records are maintained for each subfund. The following

subfunds were available for subscription and redemption on 30

September 2014:

- Allianz High Dividend Asia Pacific

- Allianz Multi Strategie Investment Grade (MSIG)*

- Allianz Vermögenskonzept Ausgewogen*

- Allianz Vermögenskonzept Defensiv*

- Allianz Vermögenskonzept Dynamisch*

The figures presented in this report relate to the period under review

from 1 October 2013 to 30 September 2014. They should not be taken

as an indication of the future development of the Subfunds.

This report does not constitute an offer or an invitation to purchase

shares of the Subfunds. Subscriptions are only valid if made on the

basis of the current sales prospectus and the Articles of Incorporation,

with the Key Investor Information supplemented by the latest

available audited annual report. If the latest annual report was

published more than eight months ago, then the most recent semi-

annual report must also be made available.

The sales prospectus, the Company’s Articles of Incorporation, Key

Investor Information as well as the respective annual and semi- annual

reports can be obtained from the Management Company, the Custodian

and each Paying and Information Agent without charge.

RP Rendite Plus

c/o Allianz Global Investors GmbH

Bockenheimer Landstraße 42-44

D-60323 Frankfurt/Main

Internet: www.allianzglobalinvestors.de

E-Mail: [email protected]

As of effective date of the merger, Allianz Global Investors GmbH

acts through its Luxembourg branch in order to carry out its function

as Central Administration Agent:

6A, route de Trèves

L-2633 Senningerberg

Internet: www.allianzglobalinvestors.lu

E-Mail: [email protected] *標註之基金為未核備基金，以下重複之處亦同。

http://www.allianzglobalinvestors.de/mailto:[email protected]://www.allianzglobalinvestors.lu/mailto:[email protected]

RP Rendite Plus

Important notice to our Shareholders

Amendment to the Sales Prospectus

The Board of Directors of RP Rendite Plus (the “Company”) has

decided to make the following changes effective 28 November

2013:

- Fund management of the subfund Allianz PIMCO Multi

Strategie Investment Grade (MSIG) shall be transferred from the

PIMCO Deutschland GmbH to the Allianz Global Investors

France SA.

- The subfund Allianz PIMCO Multi Strategie Investment Grade

(MSIG) is renamed as Allianz Multi Strategie Investment Grade

(MSIG).

Merger of the Subfunds

The Management Company of Allianz Horizont Fonds and the

Board of Directors of RP Rendite Plus SICAV decided to merge the

following funds with effect from 27 March 2014:

Allianz Horizont Balance -A- EUR (LU0103682786)

with

RP Rendite Plus - Allianz Vermögenskonzept Ausgewogen –C- EUR

(LU0324636652)

Allianz Horizont Defensiv -A- EUR (LU0103682513)

with

RP Rendite Plus - Allianz Vermögenskonzept Defensiv –C- EUR

(LU0324635688)

Allianz Horizont Dynamik -A- EUR (LU0103683248)

with

RP Rendite Plus - Allianz Vermögenskonzept Dynamisch –C- EUR

(LU0458234829)

The issuance of shares in the funds being absorbed ceased on 14

February 2014.

Investors received 1.005092 shares in Allianz Vermögenskonzept

Ausgewogen –C- EUR for each share in Allianz Horizont Balance

-A- EUR.


Defensiv –C- EUR for each share in Allianz Horizont Defensiv -A-

EUR.


Dynamisch –C- EUR for each share in Allianz Horizont Dynamik -A-

EUR.

Merger of the Management Company

On 24 March 2014, the Management of the absorbing company

(Allianz Global Investors Europe GmbH) and that of the absorbed

company (Allianz Global Investors Luxembourg S.A.) decided on a

cross-border merger of the absorbed company into the absorbing

company pursuant to Art. 261 et seqq. of the Luxembourg law on

commercial companies of 10 August 1915 as amended and Sections 2

et seqq., 46 et seqq. and 122a et seqq. of the German Transformation

act (UmwG).

The merger plan was drafted pursuant to the provisions on mergers

under Luxembourg and German law as defined in Directive

2005/56/EC on cross-border mergers and submitted to the Memorial,

Recueil des Sociétés et Associations (“Memorial”), the Official

Gazette of the Grand Duchy of Luxembourg on 12 April 2014. The

merger became effective on 1 July 2014. The merger does not have

any negative impact on the shareholders.

Amendment to the sales prospectus

The Board of Directors of the Company decided to make the

following amendments to the sales prospectus effective 1 July

2014:

– Introduction of an all-in fee at share class level, amounting to:

- Allianz High Dividend Asia Pacific - Class A (EUR) 2.05% p.a.

- Allianz High Dividend Asia Pacific - Class CT (EUR) 2.05% p.a.

- Allianz High Dividend Asia Pacific - Class I (EUR) 0.90% p.a.

- Allianz High Dividend Asia Pacific - Class I (H-EUR) (EUR) 0.95% p.a.

- Allianz High Dividend Asia Pacific - Class W (H-EUR) (EUR) 0.70% p.a.

- Allianz Vermögenskonzept Ausgewogen - Class A (EUR) 1.65% p.a.

- Allianz Vermögenskonzept Ausgewogen - Class C (EUR) 1.65% p.a.

- Allianz Vermögenskonzept Ausgewogen - Class P (EUR) 0.79% p.a.

- Allianz Vermögenskonzept Defensiv - Class A (EUR) 1.55% p.a.

RP Rendite Plus

- Allianz Vermögenskonzept Defensiv - Class C (EUR) 1.55% p.a.

- Allianz Vermögenskonzept Defensiv - Class P (EUR) 0.74% p.a.

- Allianz Vermögenskonzept Dynamisch - Class A (EUR) 1.85% p.a.

- Allianz Vermögenskonzept Dynamisch - Class C (EUR) 1.85% p.a.

- Allianz Vermögenskonzept Dynamisch - Class P (EUR) 0.87% p.a.

The all-in fee covers the following fees and expenses, which are not

charged separately to the Subfunds:

– fee for management and central administration;

– fee for distribution and advisory services;

– custodian fee;

– fee of the Registrar and Transfer Agent;

– costs for the preparation (including translation) and mailing of sales

prospectuses, Articles of Incorporation, key investor information as

well as annual, semi-annual and any interim reports, and other reports

and notifications to shareholders;

– costs of publishing the sales prospectuses, Articles of Incorporation,

key investor information, annual, semi-annual and any interim reports,

other reports and notifications to shareholders, tax information, as well

as subscription and redemption prices, and official announcements

made to shareholders;

– costs of auditing the Company and its Subfunds by the auditor;

– costs of registering the shares for public distribution and/or the

maintenance of such registration;

– costs of preparing share certificates and, if any, coupons and

coupon renewals;

– paying agent and information agent fees;

– costs of assessing the Subfunds by nationally and internationally

recognised rating agencies;

– expenses in connection with the establishment of a subfund;

– costs related to the use of index names, in particular licence fees;

– costs and fees incurred by the Company and by third parties

authorised by the Company relating to the acquisition, use and

maintenance of in-house or third-party computer systems used by fund

managers and investment advisors;

– costs related to obtaining and maintaining a status authorising the

direct investment in assets in a country or to act directly as a

contracting partner in markets in a country;

– costs and expenses by the Company, the Custodian and third parties

authorised by the Company or the Custodian in connection with

monitoring of investment limits and restrictions;

– costs for calculating the risk and performance figures and the

calculation of performance-related fees for the Management

Company by third parties appointed to do so;

– costs related to obtaining information about general shareholders’

meetings of companies or about other meetings of the owners of assets

as well as costs related to direct participation or participation through

authorised third parties in such meetings;

– postage, telephone, fax and telex fees.

The Management Company may levy a lower all-in fee at its own

discretion.

The sales prospectus (as at November 2014) and Key Investor

Information (as at November 2014) can be obtained from the

Management Company, the Custodian and each Paying and

Information Agent without charge.

Subsequent Events

Renaming of the Management Company

Effective 28 November 2014, Allianz Global Investors Europe GmbH

was renamed Allianz Global Investors GmbH.

This name change is equally applicable to Allianz Global Investors

Europe GmbH – Luxembourg Branch – which has been operating

under the name of Allianz Global Investors GmbH –Luxembourg

Branch – since 28 November 2014.

Contents

Performance of the Subfunds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

Investment Policy and Subfund Assets

Allianz High Dividend Asia Pacific . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

Allianz Multi Strategie Investment Grade (MSIG) . . . . . . . . . . . . . . . . . . . . . . 6

Allianz Vermögenskonzept Ausgewogen . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

Allianz Vermögenskonzept Defensiv . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

Allianz Vermögenskonzept Dynamisch . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

Combined Financial Statements of the Company

Statement of Operations

Statement of Net Assets

Statement of Changes in Net Assets

Financial Statements of the Subfunds

Investment Portfolios

Statement of

Operations Statement

of Net Assets

Statement of Changes in Net Assets

Allianz High Dividend Asia Pacific . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

Allianz Multi Strategie Investment Grade (MSIG) . . . . . . . . . . . . . . . . . . . . . . 21

Allianz Vermögenskonzept Ausgewogen . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28

Allianz Vermögenskonzept Defensiv . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39

Allianz Vermögenskonzept Dynamisch . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50

Notes to the Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61

Note for investors in the Federal Republic of Germany . . . . . . . . . . . . . . . . . . 69

Report of the Réviseur d’Entreprises agréé . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70

Directory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71

Note: This document is a translation of the original German text. Should there be any divergence please refer to the latter.

RP Rendite Plus

2

Performance of the Subfunds

Performance in percent

Name of the Subfund Share Class Launch date Initial subscription price

Allianz High Dividend Asia Pacific A (EUR) (distributing) 18/01/2012 100.00

AM (EUR) (distributing) 02/06/2014 10.00 CT (EUR) (accumulating) 02/09/2013 100.00 I (EUR) (distributing) 06/10/2005 100.00 I (H-EUR) (distributing) 27/02/2007 1,000.00 W (H-EUR) (distributing) 16/11/2006 1,000.00 AM (USD) (distributing) 02/06/2014 10.00 Allianz Multi Strategie Investment Grade (MSIG) I (EUR) (distributing) 28/08/2003 100.00

Allianz Vermögenskonzept Ausgewogen A (EUR) (distributing) 11/02/2014 100.00

C (EUR) (distributing) 04/01/2010 100.00 P (EUR) (distributing) 06/02/2014 1,000.00 Allianz Vermögenskonzept Defensiv A (EUR) (distributing) 11/02/2014 100.00

C (EUR) (distributing) 04/01/2010 100.00 P (EUR) (distributing) 06/02/2014 1,000.00 Allianz Vermögenskonzept Dynamisch A (EUR) (distributing) 11/02/2014 100.00

C (EUR) (distributing) 04/01/2010 100.00 P (EUR) (distributing) 06/02/2014 1,000.00

1) The calculation is based on the net asset value per share (excluding sales charge), assuming distributions, if any, were reinvested. The performance is calculated

according to the method recommended by the German BVI (Bundesverband Investment und Asset Management e.V.).

2) For the period from 2 June 2014 (launch date) to 30 September 2014.

3) For the period from 11 February 2014 (launch date) to 30 September 2014.

4) For the period from 6 February 2014 (launch date) to 30 September 2014.

Past performance is no indication of current or future performance.

The performance data do not take account of the commissions and costs incurred on the issue and redemption of shares.

RP Rendite Plus

3

1 year

(30/09/2013-

30/09/2014)

2 years

(30/09/2012-

30/09/2014)

3 years

(30/09/2011-

30/09/2014)

5 years

(30/09/2009-

30/09/2014)

10 years

(30/09/2004-

30/09/2014)

Since

launch

(Launch date

-

30/09/2014)

%1) %1) %1) %1) %1) %1)

7.64 12.94 - - - 22.96

- - - - - 6.022)

7.69 - - - - 9.07

8.94 15.69 47.62 61.56 - 88.70

3.02 15.50 33.65 27.74 - 25.18

3.97 16.95 35.64 29.78 - 39.91

- - - - - -1.232)

4.39 7.31 16.27 26.86 40.88 50.99

- - - - - 5.563)

9.02 16.43 23.89 - - 20.08

- - - - - 7.104)

- - - - - 4.693)

7.70 13.27 19.11 - - 15.35

- - - - - 5.894)

- - - - - 6.043)

9.76 18.50 26.01 - - 21.59

- - - - - 8.124)

4

Allianz High Dividend Asia Pacific


The equity markets were again dominated by global macroeconomic

factors in 2014. The tug-of-war between rising bond yields and risk

aversion again unsettled international investors, despite stronger

economic growth in the US. Europe faced enormous challenges, not

least following Russia’s attack on Ukraine. Asian market trends

diverged over the course of the year. Markets that had lagged behind

in 2013 recovered noticeably, especially India, whose new Prime

Minister Modi began to restructure the economy. By contrast, the

reform agenda in China lost pace as measures to fight corruption

started to take effect, which suppressed investing.

The Subfund underperformed its benchmark in the reporting period.

Insufficient exposure to India had an adverse effect, while China’s

overweight failed to provide support. The telecom, utilities and energy

sectors contributed substantially to performance, which was, however,

wiped out by poor performance in the financial, cyclical consumer

goods and IT sectors.

Asia will witness radical political change in the years to come. The

years of strong growth are over, once and for all, and the next phase

will depend on the “3 Rs” (reform, restructuring and re-

rating). Asia’s economies must undergo reform and focus on more than

growth alone, which means that companies must

restructure. Global macroeconomic themes will also continue to

play a role as conflict eventually emerges between higher growth

rates and higher interest rates, and we need to position ourselves

accordingly.

The exact performance in the period under review is reported in the

table “Performance of the Subfunds” on pages 2 and 3.

Please refer to the sales prospectus and the Key Investor

Information for additional information on the Subfund.

Breakdown of Net Assets in %

50

40

30

20

10

0

27 .20 24 .77

15 .9

1

11 .9

9

5 .14 4 .43 6 .82 3 .74

Australia China Hong Kong South Korea Singapore Taiwan Other countries Cash

reserves,

other assets

5


The Subfund in figures

30/09/2014 30/09/2013 30/09/2012 30/09/2011 Subfund assets in millions of

EUR

248.1 196.4 232.6 157.6 Shares in circulation 1) 3,605,870 847,911 1,220,066 876,88

8 Net asset value per share in

EUR

- Class A (EUR) (distributing) 2) WKN: A0F 6SA/ISIN: LU0229176416 118.45 111.78 108.87 --

- Class AM (EUR) (distributing)

4)

WKN: A11 3B9/ISIN: LU1063948902 10.50 -- -- --

- Class CT (EUR)

(accumulating) 3)

WKN: A0M MVR/ISIN: LU0290518447 109.07 101.28 -- --

- Class I (EUR) (distributing) WKN: A0F 6SB/ISIN: LU0229176689 143.76 135.73 131.56 105.57

- Class I (H-EUR) (distributing) WKN: A0K E2B/ISIN: LU0263903469 995.85 992.47 910.74 812.59

- Class W (H-EUR)

(distributing)

WKN: A0L AS2/ISIN: LU0266665115 863.69 890.18 849.11 757.03

Net asset value per share in

USD

- Class AM (USD) (distributing)

4)

WKN: A11 3CA/ISIN: LU1063949389 9.78 -- -- --


2) Launch date: 18 January 2012

3) Launch date: 2 September 2013

4) Launch date: 2 June 2014

6

Allianz Multi Strategie Investment Grade (MSIG)


The Subfund invests in the international bond market, particularly in

corporate bonds, mortgage bonds and similar securities. Up to

35% of Subfund assets may be invested in bonds from emerging

markets. Bonds without an investment grade rating may not be

acquired. Foreign-exchange exposure exceeding 15% of the Subfund’s

assets must be hedged against the Euro. The investment objective is to

generate an above-average return in Euro over the long term.

In the year under review ending September 2014, the major

international central banks continued their policy of keeping interest

rates low. In light of the robust economy, the US Federal Reserve

ended its bond repurchase programme aimed at supporting the market,

while the European Central Bank (ECB) took further action to

stimulate lending in the Eurozone periphery, which continues to

remain weak. In light of declining inflation, the ECB also lowered the

base rate even further, to 0.05%. In this environment, Euro government

bonds were the primary beneficiaries from further decreases in yields

and reductions in

risk premiums. Performance by mortgage bonds, emerging market and

corporate securities was also positive.

A focus of the Subfund remained on government issues. In addition to

top-rated securities from countries such as Germany and France, Italian

and Spanish bonds in particular were represented. They were joined by

extensive allocations to international corporate bonds with good ratings,

mainly from the industrial and financial sectors. Exposure to covered

bonds similar to mortgage bonds was increased, with particular focus

on

Spanish and Italian banks offering attractive yields. By contrast,

allocations to other asset-backed securities (ABS/MBS) were reduced.

The positions in bonds from emerging markets were also largely

liquidated. The average credit rating in the Subfund was unchanged

overall at AA-. Investments in foreign currency were almost

completely hedged against the Euro.

In terms of maturities, long durations formed one area of focus,

where bond prices benefited particularly from declining interest rates.

A position was also held through derivatives, aimed at benefiting

from rising yields in the segment below one year. As at the end of

September, the duration (average maturity) of the overall portfolio

was just under three years1).

With its investment policy the Subfund obtained a solid gain. The

exact performance in the period under review is reported in

the table “Performance of the Subfunds” on pages 2 and 3.



7



30/09/2014 30/09/2013 30/09/2012 30/09/2011 Subfund assets in millions of EUR 115.5 123.4 353.6 337.0 Shares in circulation

Net asset value per share in EUR

- Class I (EUR) (distributing)

WKN: 121 252/ISIN: LU0174381151

1,044,44

0

110.58

1,130,75

7

109.11

3,235,55

0

109.28

3,233,98

0

104.22

1) Floating-rate notes are considered with the date of the next interest rate change.

8

Allianz Vermögenskonzept Ausgewogen

25

20

15

10

5

0


The Subfund aims at the profile of a portfolio comprising 50% high-

opportunity investments (for example equities, commodities) and

50 % relatively stable investments (EUR bonds). Depending on the

market situation, it may invest up to 70% in relatively high-

opportunity products. It invests at least 30% in relatively stable

products. The objective is to obtain capital growth over the long term.

The aim is also to limit potential losses as at the end of the calendar

year in comparison with the share price at the start of the year (not

guaranteed).

In the year under review ending September 2014, the global equity

market benefited from strong growth in the USA and the policy

adopted by the major central banks of keeping interest rates low.

Concerns about the sustainability of the economic upturn only had an

adverse effect on stock market sentiment in Japan. On the bond

markets, Euro government bonds were the primary beneficiaries from

further decreases in yields and reductions in risk premiums. On

balance, performance by corporate securities was also positive. On the

commodity markets, prices decreased noticeably overall.

On average, around half of the holdings in the Subfund continued to

be interest-bearing investments. Focus remained on public- sector

issues from the Eurozone. In addition to securities with the highest

credit ratings, these also included bonds with more attractive yields

from European peripheral countries, mainly Italy and Spain. Exposure

to European investment grade corporate bonds was increased

somewhat, while allocations to German mortgage bonds and

comparable European covered bonds were reduced. As of end

September, the average rating of the interest- bearing investments was

A+. In terms of maturities, bond

positions focused on the relatively low-volatility three- to five-year

segment.

The equity portfolio comprised broadly diversified international blue

chips, with particular focus on the industrial, financial, healthcare and

commodities sectors. In terms of countries, exposure to German

equities was reduced in favour of US companies. At the same time, the

initial investment in a fund specialising in established stock exchanges

outside of Europe was liquidated.

Derivatives on common stock market indices were used for fine-

tuning the equity/bond weighting and for hedging purposes. We

refrained from investing in commodities, given the environment.

With its investment policy the Subfund obtained a solid gain. The

exact performance in the period under review is reported in

the table “Performance of the Subfunds” on pages 2 and 3.




21 .59

14 .27 13 .25 9 .15 9 .14

5 .56 4 .75 4 .69

2 .73

13 .1

7

1 .70

Germany Italy USA Spain France Switzerland Belgium The

Nether-

lands

United

King-

dom

Other

coun-

tries

Cash re-

serves,

other

assets

9




EUR

80.0 28.0 22.8 18.0 Shares in circulation 1) 688,685 260,933 224,352 186,99


EUR

- Class A (EUR) (distributing) 2) WKN: A0M 2S1/ISIN: LU0324636496 105.56 -- -- --

- Class C (EUR) (distributing) WKN: A0M 2S3/ISIN: LU0324636652 116.17 107.48 101.58 96.38

- Class P (EUR) (distributing) 3) WKN: A1X B8S/ISIN: LU1017863587 1,070.97 -- -- --


2) Launch date: 11 February 2014


Allianz Vermögenskonzept Defensiv

10




70% relatively stable investments (EUR bonds). Depending on the


opportunity products. It invests at least 50% in relatively stable

products. The objective is to obtain capital growth over the long term.

The aim is also to limit potential losses as at the end of the calendar

year in comparison with the share price at the start of the year (not

guaranteed).







further decreases in yields and reductions in risk premiums. On the


On average, around two-thirds of the holdings in the Subfund

continued to be interest-bearing investments. Focus remained on

public-sector issues from the Eurozone. In addition to securities with

the highest credit ratings, these also included bonds with more

attractive yields from European peripheral countries, mainly Italy and

Spain. Exposure to European investment grade corporate bonds was

increased somewhat, while allocations to German mortgage bonds and



A+. In terms of maturities, bond

positions focused on the relatively low-volatility three- to five-year

segment.

The equity portfolio comprised broadly diversified international blue

chips, with particular focus on the industrial, financial, healthcare and

commodities sectors. In terms of countries, focus shifted from

German to US companies. At the same time, the initial investment in

a fund specialising in established stock exchanges outside of Europe

was liquidated.

Derivatives on common stock market indices were used for fine-

tuning the equity/bond weighting and for hedging purposes. We

refrained from investing in commodities, given the environment.

With its investment policy, the Subfund obtained a solid gain. The

exact performance in the period under review is reported in the table

“Performance of the Subfunds” on pages 2 and 3.




25

20

15

10

5

0

19 .21

17 .46

10 .9

0

9 .03 8 .72

5 .97

4 .37 3 .26 2 .82 2 .50 2 .50 2 .45

6 .50

4 .31

Italy Germany Spain USA France Belgium The Neth- Switzer- Suprana- Portugal United Ireland Other Cash re-

erlands land tional Kingdom countries serves, other

assets


11



EUR

117.1 19.8 16.9 15.6 Shares in circulation 1) 1,053,210 190,438 169,612 163,02


EUR

- Class A (EUR) (distributing) 2) WKN: A0M 2ST/ISIN: LU0324635332 104.69 -- -- --

- Class C (EUR) (distributing) WKN: A0M 2SV/ISIN: LU0324635688 111.23 104.22 99.38 95.84

- Class P (EUR) (distributing) 3) WKN: A1X B8R/ISIN: LU1017857340 1,058.92 -- -- --




Allianz Vermögenskonzept Dynamisch

12




30% relatively stable investments (EUR bonds). Depending on the


opportunity products. It may also invest in relatively stable products.

The objective is to obtain capital growth over the long term. The aim is

also to limit potential losses as at the end of the calendar year in

comparison with the share price at the start of the year (not

guaranteed).







further decreases in yields and reductions in risk premiums. On

balance, performance by corporate securities was also positive. On the


On average, considerably more than half of the portfolio was

represented by equity investments. The broadly diversified portfolio

comprising international blue chips focused on the industrial, financial,

healthcare and commodities sectors. In terms

of countries, exposure to German equities was reduced in favour of US

companies. At the same time, the initial investment in a fund

specialising in established stock exchanges outside of Europe was

liquidated. As most commodity prices weakened across the board,

investment in a specialist fund focusing on the same was brought to an

end.

In terms of interest-bearing investments, focus remained on public

sector issues from the Eurozone. In addition to securities

with the highest credit ratings, these also included bonds with more

attractive yields from European peripheral countries, mainly Italy and

Spain. Exposure to European investment grade corporate bonds was

increased somewhat, while allocations to German mortgage bonds and



A+. In terms of maturities, bond positions focused on the relatively

low-volatility three- to five-year segment.

Derivatives on common stock market indices and/or government bonds

were used for fine-tuning the equity/bond weighting and for hedging

purposes.

With its investment policy, the Subfund obtained a solid gain. The

exact performance in the period under review is reported in the table

“Performance of the Subfunds” on pages 2 and 3.




13

50

40

30

20


10

0

24 .5

6

16 .2

1

9 .44 9 .22 7 .76 6 .19 4 .71

3 .54 3 .06

11 .7

3

3 .58

Germany USA France Italy Switzerland Spain The

Nether-

lands

Belgium United

King-

dom

Other

coun-

tries

Cash re-

serves,

other

assets



EUR

55.3 25.1 19.6 16.1 Shares in circulation 1) 460,727 228,723 192,357 167,24


EUR

- Class A (EUR) (distributing) 2) WKN: A0M K21/ISIN: LU0286517833 106.04 -- -- --

- Class C (EUR) (distributing) WKN: A0Y CN6/ISIN: LU0458234829 120.06 109.87 102.10 96.33

- Class P (EUR) (distributing) 3) WKN: A1X B8T/ISIN: LU1017866762 1,081.23 -- -- --




14

RP Rendite Plus

Combined Financial Statements of the Company


for the period from 01/10/2013 to 30/09/2014

Interest on

EU

R

Statement of Net Assets

as at 30/09/2014

Securities and money-market

instruments

EUR

- bonds

6,020,366.7

4

- swap transactions 2,150.65

- cash at banks

15,098.5

1

Dividends

8,373,105.7

9

Income from

- investment units 8,082.00

Other income 4,445.48

Total income

14,423,249 .1

7

Interest paid on

- swap transactions -6,539.51

- bank liabilities -7,090.75

Management and Central Administration Agent Fee 1) -

2,467,964.80

Administration Fee 1) -512,196.82

Distribution costs 1) -211,639.43

Custodian fee -

81,272.79

Taxe d’Abonnement -

106,819.51

All-in-fee 2) -

1,563,085.55

Audit and other expenses -

142,854.09

Total expenses -

5,099,463 .25

Equalisation on ordinary income/loss

1,168,931.7

4

Net income/loss

10,492,717 .6

6

Realised gain/loss on

- options transactions -

204,286.29

- securities transactions

15,812,227.7

2

- financial futures transactions 18,242.58

- forward foreign exchange transactions

630,416.6

9

- foreign exchange -

6,830,584.08

- swap transactions -126,625.19

Income equalisation on net realised gain/loss

932,757.5

5

Net realised gain/loss

20,724,866 .6

4

Changes in unrealised appreciation/depreciation on

- options transactions 10,886.90


15,936,677.2

6

- financial futures transactions 82,168.00

- forward foreign exchange transactions -

4,974,526.41

- foreign exchange

140,178.0

6

- swap transactions

119,054.3

2

Result of operations

32,039,304 .7

7




shareholders”.

15

RP Rendite Plus

(Cost Price EUR 565,590,648.67) 595,210,024.85

Bank deposits 18,999,006.42

Premiums paid on purchase of options 38,769.14

Interest receivable on

- bonds 3,392,763.94

Accrued dividends 948,037.02

Receivable on

- subscriptions of fund units 1,511,198.11

- securities transactions 3,521,762.51

Other receivables 12,638.50

Unrealised gain on

- options transactions 99,758.00

- futures transactions 163,596.14

- forward foreign exchange transactions 813,301.48

Total assets 624,710,856.11

Liabilities to banks -101,306.28

Premiums received on written options -8,976.43

Interest liabilities on swap transactions -267.57

Payable on

- redemptions of fund units -511,606.53

- securities transactions -2,862,044.16

Other payables -664,360.13

Unrealised loss on

- options transactions -10,966.56

- futures transactions -505,988.88

- forward foreign exchange transactions -4,036,846.07

Total liabilities and equity -8,702,362.61

Fund assets

616,008,493 .5

0

The Financial Statements of the Subfunds presented on pages 16 to 60 combine to form the Company’s Financial Statements, which are shown above. The

accompanying notes form an integral part of these financial statements.

16

RP Rendite Plus

Statement of Changes in Net

Assets


EUR

Net assets at the beginning of the reporting period 392,819,331.94

Subscriptions 313,832,138.31

- Class A (EUR) (distributing) 35,173,405.76

- Class AM (EUR) (distributing) 853,318.93

- Class C (EUR) (distributing) 176,296,820.65

- Class CT (EUR) (accumulating) 22,581,490.99

- Class I (EUR) (distributing) 40,989,996.28

- Class I (H-EUR) (distributing) 17,126,954.11

- Class P (EUR) (distributing) 6,209.48

- Class W (H-EUR) (distributing) 2,022,043.39

- Class AM (USD) (distributing) 18,781,898.72

Redemptions -110,206,879.35

- Class A (EUR) (distributing) -6,662,468.54

- Class AM (EUR) (distributing) -35,982.12

- Class C (EUR) (distributing) -11,126,226.15

- Class CT (EUR) (accumulating) -23,004.62

- Class I (EUR) (distributing) -45,476,848.78

- Class I (H-EUR) (distributing) -4,030,408.06

- Class W (H-EUR) (distributing) -42,117,272.35

- Class AM (USD) (distributing) -734,668.73

596,444,590.9

0

Distribution -10,373,712.88

Income equalisation -2,101,689.29

Result of operations 32,039,304.77

Net assets at the end of the reporting period 616,008,493 .50


The accompanying notes form an integral part of these financial statements.

16


Investment Portfolio as at 30/09/2014

ISIN Securities Shares/

Currency (in

1,000)/

Acquisition

s

Disposals Holdings

30/09/2014

Price Market

Value

in

EUR

% of

Subfund Contracts in the period

under review assets Securities and money-market instruments admitted to an official stock exchange listing 238,225,393 .36 96 .01

Equities 224,678,461 .55 90 .55 Australia 62,517,581 .76 25 .20 AU000000AMC4 Amcor Australia STK 293,400 193,900 639,300 AUD 11.330 4,999,438.20 2.02

AU000000BOQ8 Bank of Queensland STK 689,466 170,400 519,066 AUD 11.640 4,170,250.60 1.68

AU000000BHP4 BHP Billiton STK 117,400 226,000 128,100 AUD 33.870 2,994,683.41 1.21

AU000000BSL0 BlueScope Steel STK 767,648 221,600 1,019,848 AUD 5.420 3,815,235.28 1.54

AU000000BXB1 Brambles STK 869,300 317,800 1,195,200 AUD 9.520 7,853,515.82 3.17

AU000000CGF5 Challenger STK 735,569 235,900 1,062,507 AUD 7.120 5,221,537.29 2.10

AU000000CPU5 Computershare STK 501,700 55,600 446,100 AUD 12.160 3,744,142.66 1.50

AU000000GMA5 Genworth Mortgage Insurance STK 626,680 199,440 427,240 AUD 3.420 1,008,520.20 0.41

AU000000QBE9 QBE Insurance Group STK 880,778 58,500 1,221,835 AUD 11.660 9,833,264.07 3.96

AU000000SKI7 Spark Infrastructure Group STK 1,167,507

1,532,200 1,167,507 AUD 1.840 1,482,736.25 0.60

AU000000SPO4 Spotless Group Holdings STK 7,284,649

1,787,867 5,496,782 AUD 1.810 6,867,104.85 2.77

AU000000SUN6 Suncorp Group STK 107,400 384,800 401,112 AUD 14.040 3,887,043.07 1.57

AU000000TLS2 Telstra STK 602,400 32,100 570,300 AUD 5.300 2,086,247.51 0.84

AU000000VET1 Vocation STK 1,399,809

212,000 1,187,809 AUD 2.400 1,967,634.57 0.79

AU000000WES1 Wesfarmers STK 186,176 235,490 88,875 AUD 42.160 2,586,227.98 1.04 China 61,447,136 .50 24 .77 CNE100000Q43 Agricultural Bank of China -H- STK 9,587,00

0

2,098,000 14,108,000 HKD 3.440 4,942,397.97 1.99

CNE1000001W2 Anhui Conch Cement -H- STK 914,500 914,500 HKD 24.700 2,300,352.98 0.93 CNE1000001Z5 Bank of China -H- STK 20,900,00

0 5,165,000 21,384,000 HKD 3.470 7,556,701.02 3.05

CNE100001QS1 China Cinda Asset Management -H- STK 13,884,000

3,531,000 10,353,000 HKD 3.420 3,605,837.40 1.45

CNE1000002H1 China Construction Bank -H- STK 4,768,000

835,000 7,767,000 HKD 5.450 4,310,857.10 1.74

CNE100001NP4 China Machinery Engineering -H- STK 1,902,000 3,060,000 HKD 4.460 1,389,856.95 0.56 CNE100000HF9 China Minsheng Banking -H- STK 1,462,90

0 1,079,500 3,020,900 HKD 7.100 2,184,281.04 0.88

CNE1000002V2 China Telecom -H- STK 7,430,000

7,430,000 HKD 4.760 3,601,717.00 1.44 CNE1000019K9 Haitong Securities -H- STK 3,826,00

0 6,012,000 HKD 11.980 7,334,822.51 2.96

CNE1000006Z4 Huaneng Power International -H- STK 4,752,000

3,712,000 8,314,000 HKD 8.480 7,179,921.43 2.89

CNE1000003G1 Industrial & Commercial Bank of China -H- STK 6,861,000

4,629,000 13,491,000 HKD 4.830 6,635,980.36 2.68

CNE1000003J5 Jiangsu Expressway -H- STK 1,832,000 3,792,000 HKD 8.150 3,147,311.70 1.27 CNE1000003X6 Ping An Insurance Group -H- STK 318,000 548,000 616,000 HKD 58.400 3,663,594.33 1.48

CNE100000478 Shenzen Expressway -H- STK 6,734,000 6,734,000 HKD 5.240 3,593,504.71 1.45 Hong Kong 38,842,179 .35 15 .66 HK0000069689 AIA Group STK 203,800 966,400 596,800 HKD 40.150 2,440,215.51 0.98

KYG0535Q1331 ASM Pacific Technology STK 645,500 645,500 HKD 76.850 5,051,890.60 2.04 HK0144000764 China Merchants Holdings International STK 1,724,00

0 486,000 1,238,000 HKD 24.000 3,025,838.23 1.22

HK0688002218 China Overseas Land & Investment STK 2,190,000

386,000 1,804,000 HKD 19.960 3,666,999.82 1.48

HK0000093390 HKT Trust and HKT -SS- STK 2,937,140

2,937,140 HKD 9.380 2,805,700.47 1.13 KYG459951268 Hopewell Highway Infrastruct STK 1,035,000 4,486,000 CNH 3.000 1,724,604.29 0.70 HK0013000119 Hutchison Whampoa STK 276,000 200,000 505,000 HKD 94.000 4,834,293.91 1.94

BMG5485F1692 Li & Fung STK 3,072,000

1,364,000 2,738,000 HKD 8.820 2,459,324.57 0.99

HK0008011667 PCCW STK 14,982,000

8,699,000 14,982,000 HKD 4.890 7,460,921.51 3.01

HK0016000132 Sun Hung Kai Properties STK 286,000 23,000 263,000 HKD 110.100 2,948,878.55 1.19

HK0019000162 Swire Pacific -A- STK 60,000 47,000 237,500 HKD 100.200 2,423,511.89 0.98

Macao 2,317,955 .84 0 .93

KYG7800X1079 Sands China STK 562,000 562,000 HKD 40.500 2,317,955.84 0.93

Malaysia 3,093,717 .05 1 .25

MYL5347OO009 Tenaga Nasional STK 143,700 969,600 1,036,700 MYR 12.380 3,093,717.05 1.25

New Zealand 2,015,805 .58 0 .81 NZMETE0001S2 Metlifecare STK 1,026,220 662,400 363,820 NZD 4.600 1,027,157.09 0.41

NZZELE0001S1 Z Energy STK 46,700 855,000 406,775 NZD 3.960 988,648.49 0.40 Singapore 12,753,703 .93 5 .14 SG2F77993036 Asian Pay Television Trust STK 10,021,000 723,000 19,924,000 SGD 0.825 10,200,930.07 4.11

SG1T75931496 Singapore Telecommunications STK 626,000 937,000 1,074,000 SGD 3.830 2,552,773.86 1.03 South Korea 29,764,057 .23 11 .99 KR7114090004 Grand Korea Leisure STK 146,145 68,260 77,885 KRW 41,950.000 2,448,371.51 0.99

KR7086790003 Hana Financial Group STK 45,335 118,176 81,339 KRW 38,500.000 2,346,664.95 0.95

KR7105560007 KB Financial Group STK 81,944 81,944 KRW 38,550.000 2,367,189.75 0.95 KR7006650006 Korea Petrochemical STK 34,224 36,982 KRW 72,000.000 1,995,328.56 0.80 KR7030200000 KT STK 200,789 124,670 189,259 KRW 34,300.000 4,864,544.60 1.96

KR7033780008 KT&G STK 10,453 13,231 35,451 KRW 94,500.000 2,510,451.45 1.01

KR7034220004 LG Display STK 69,160 29,594 39,566 KRW 34,000.000 1,008,074.41 0.41

KR7055550008 Shinhan Financial Group STK 130,014 130,014 KRW 48,600.000 4,734,977.48 1.91


17

KR7017670001 SK Telecom STK 6,990 10,760 34,459 KRW 290,000.000 7,488,454.52 3.01



18

Shares/ Acquisition

s

Disposals Holdings Price Unrealised % of

Currency (in

1,000)/

Contract

s

in the

period

under review

30/09/2014 gain/loss Subfund

asset

s


ISIN Securities Shares/

Currency (in 1,000)/

Acquisitions Disposals Holdings

30/09/2014

Price Market Value in EUR

% of

Subfund Contracts in the period under review assets

Taiwan 11,002,197 .14 4 .43 TW0002882008 Cathay Financial Holding STK 2,085,450 2,085,450 TWD 49.550 2,686,199.47 1.08 TW0002823002 China Life Insurance STK 3,191,700 3,191,700 TWD 25.100 2,082,526.82 0.84 TW0002324001 Compal Electronics STK 3,443,000 888,000 6,468,000 TWD 22.750 3,825,130.27 1.54

TW0002881000 Fubon Financial Holding STK 488,000 337,000 1,983,838 TWD 46.700 2,408,340.58 0.97

United Kingdom 924,127 .17 0 .37

GB0005405286 HSBC Holdings STK 582,000 114,000 HKD 79.600 924,127.17 0.37

Participating Shares 8,573,320 .89 3 .46

Ireland 4,882,791 .97 1 .97

AU000000JHX1 James Hardie Industries (CDI‘s) STK 601,800 10,800 591,000 AUD 11.970 4,882,791.97 1.97

Thailand 3,690,528 .92 1 .49

TH0143010R16 Land & House Pub (NVDR‘s) STK 14,532,900 14,532,900 THB 10.400 3,690,528.92 1.49

REITs (Real Estate Investment Trusts) 4,973,610 .92 2 .00

Australia 4,973,610 .92 2 .00

AU000000LLC3 Lend Lease Group Real Estate Investment Trust STK 275,700 61,800 502,500 AUD 14.340 4,973,610.92 2.00

Other securities and money-market instruments 629,888 .43 0 .25

Bonds 629,888 .43 0 .25

Hong Kong 629,888 .43 0 .25

- 1.0000 % CHN Merchandise HKD FLR-Notes 14/17 HKD 204.4 204.4 % 3,026.000 629,888.43 0.25

Total securities and money-market instruments 238,855,281 .79 96 .26

Deposits at financial institutions 10,811,928 .52 4 .36

Sight deposits 10,811,928 .52 4 .36

State Street Bank GmbH. Luxembourg Branch EUR 10,811,928.52 4.36

Total deposits at financial institutions 10,811,928 .52 4 .36

Securities

Derivatives

Holdings marked with a minus are short positions.

OTC-dealt derivatives -3,141,476 .79 -1 .24

Forward exchange deals -3,141,476 .79 -1 .24 Sold EUR / Bought HKD - 08 Oct 2014 EUR -6,081,612.53 274,094.55 0.11

Sold EUR / Bought IDR - 08 Oct 2014 EUR -759,764.21 11,067.24 0.01

Sold EUR / Bought TWD - 08 Oct 2014 EUR -6,134,048.51 94,039.41 0.04

Sold EUR / Bought KRW - 08 Oct 2014 EUR -11,024,568.01 115,228.29 0.05

Sold AUD / Bought EUR - 08 Oct 2014 AUD -35,443,576.00 -78,841.84 -0.03

Sold HKD / Bought EUR - 08 Oct 2014 HKD -348,124,355.00 -2,507,773.30 -1.01

Sold KRW / Bought EUR - 08 Oct 2014 KRW -14,870,424,384.00 -387,176.53 -0.16

Sold TWD / Bought EUR - 08 Oct 2014 TWD -239,586,981.00 -154,075.80 -0.06

Sold EUR / Bought AUD - 08 Oct 2014 EUR -4,226,838.78 -28,378.00 -0.01

Sold NZD / Bought EUR - 08 Oct 2014 NZD -1,946,297.00 38,934.16 0.02

Sold EUR / Bought USD - 08 Oct 2014 EUR -736,767.42 47,841.13 0.02

Sold EUR / Bought MYR - 08 Oct 2014 EUR -1,355,653.89 5,258.15 0.00

Sold EUR / Bought THB - 08 Oct 2014 EUR -716,017.95 2,421.60 0.00

Sold EUR / Bought PHP - 09 Jan 2015 EUR -104,049.82 800.35 0.00

Sold MYR / Bought EUR - 08 Oct 2014 MYR -5,648,313.00 -78,345.73 -0.03

Sold IDR / Bought EUR - 08 Oct 2014 IDR -11,890,323,802.00 -49,392.90 -0.02

Sold PHP / Bought EUR - 08 Oct 2014 PHP -28,230,554.00 -23,553.70 -0.01

Sold USD / Bought EUR - 08 Oct 2014 USD -1,007,120.00 -61,059.98 -0.02

Sold SGD / Bought EUR - 08 Oct 2014 SGD -6,038,898.00 -190,745.46 -0.08

Sold THB / Bought EUR - 08 Oct 2014 THB -29,432,548.00 -31,003.79 -0.01

Sold EUR / Bought NZD - 08 Oct 2014 EUR -571,876.46 -15,944.61 -0.01

Sold EUR / Bought PHP - 08 Oct 2014 EUR -393,777.00 -1,623.61 0.00

Sold TWD / Bought EUR - 09 Jan 2015 TWD -155,754,990.00 -19,918.54 -0.01


19

Sold CNY / Bought EUR - 09 Jan 2015 CNY -5,701,110.00 -6,816.52 0.00

Sold THB / Bought EUR - 09 Jan 2015 THB -29,432,548.00 -2,972.71 0.00

Sold KRW / Bought EUR - 09 Jan 2015 KRW -11,502,240,308.00 -29,498.62 -0.01

Sold MYR / Bought EUR - 09 Jan 2015 MYR -4,279,142.00 -2,743.24 0.00

Sold CNH / Bought EUR - 08 Oct 2014 CNH -5,701,110.00 -61,296.78 -0.02

Total derivatives -3,141,476 .79 -1 .24

Other assets/liabilities EUR 1,551,249 .23 0 .62

Net assets of the Subfund EUR 248,072,933 .57 100 .00



20

Net asset value per share - Class A (EUR) (distributing) EUR 118.45

- Class AM (EUR) (distributing) EUR 10.50

- Class CT (EUR) (accumulating EUR 109.07

- Class I (EUR) (distributing) EUR 143.76

- Class I (H-EUR) (distributing) EUR 995.85

- Class W (H-EUR) (distributing) EUR 863.69

- Class AM (USD) (distributing) USD 9.78

Shares in circulation - Class A (EUR) (distributing) STK 257,933

- Class AM (EUR) (distributing) STK 74,880

- Class CT (EUR) (accumulating STK 202,589

- Class I (EUR) (distributing) STK 750,821

- Class I (H-EUR) (distributing) STK 29,412

- Class W (H-EUR) (distributing) STK 46,397

- Class AM (USD) (distributing) STK 2,243,838

Details of the changes in portfolio composition during the period under review can be obtained free of charge from Allianz Global Investors

GmbH - Luxembourg Branch.


21



Interest on

EU

R

Statement of Net Assets of the

Subfund

as at 30/09/2014

Securities and money-market instruments

EUR

- cash at banks 218.61

Dividends

6,697,797.9

5

Total income

6,698,016 .5

6

Interest paid on

- bank liabilities -3,792.74

Management and Central Administration Agent Fee 1) -875,936.56

Administration Fee 1) -264,107.37

Taxe d’Abonnement -

26,580.44

All-in-fee 2) -532,280.19

Total expenses -

1,702,697 .30

Equalisation on ordinary income/loss

901,731.6

7

Net income/loss

5,897,050 .9

3

Realised gain/loss on


11,430,113.8

6

- forward foreign exchange transactions

2,009,289.4

3

- foreign exchange -

5,914,943.49

Income equalisation on net realised gain/loss

239,015.5

8

Net realised gain/loss

13,660,526 .3

1

Changes in unrealised appreciation/depreciation on


3,199,261.9

6


- foreign exchange 75,089.12

Result of operations 11,681,498 .07




shareholders”.



22

(Cost Price EUR 227,008,189.14) 238,855,281.79

Bank deposits 10,807,879.34

Accrued dividends 742,079.47

Receivable on

- subscriptions of fund shares 1,496,742.21

Unrealised gain on

- forward foreign exchange transactions 589,684.87

Total assets

252,491,667 .6

8

Payable on

- redemptions of fund shares -454,976.39

Other payables -232,596.06

Unrealised loss on


Total liabilities and equity -4,418,734 .11

Net assets of the Subfund

248,072,933 .5

7


23

Statement of Changes in Net Assets of the

Subfund


Net assets of the Subfund at the beginning of the reporting

EUR

period 196,422,817.40

Subscriptions

- Class A (EUR) (distributing) 34,819,334.83

- Class AM (EUR) (distributing) 853,318.93

- Class AM (USD) (distributing) 18,781,898.72

- Class CT (EUR) (accumulating) 22,581,490.99

- Class I (EUR) (distributing) 39,518,223.49

- Class I (H-EUR) (distributing) 17,126,954.11

- Class W (H-EUR) (distributing) 2,022,043.39

Redemptions

- Class A (EUR) (distributing) -6,655,356.67

- Class AM (EUR) (distributing) -35,982.12

- Class AM (USD) (distributing) -734,668.73

- Class CT (EUR) (accumulating) -23,004.62

- Class I (EUR) (distributing) -34,788,774.24

- Class I (H-EUR) (distributing) -4,030,408.06

-

42,117,272.35

243,740,615.0

7

Distribution -6,208,432.32

Income equalisation -1,140,747.25

Result of operations 11,681,498.07

Net assets of the Subfund at the end of the reporting period 248,072,933 .57

Number of shares in issue at the beginning of the

reporting

Class AM

(USD)

(distributing)

Shares

period 0

Number of shares

- issued 2,335,711

- redeemed -91,873



24

Number of shares in issue at the end of the reporting period 2,243,838


21



ISIN Securities Shares/ Acquisitions Disposals Holdings Price Market Value % of

Currency (in 1,000)/ 30/09/2014 in EUR Subfund

Contracts in the period under review assets

Securities and money-market instruments admitted to an official stock exchange listing 111,770,490 .74 96 .78

Bonds 111,770,490 .74 96 .78

Australia 337,368 .00 0 .29

XS0974122516 3.1250 % Australia Pacific Airports

Malbourne EUR MTN 13/23 EUR 300.0 % 112.456 337,368.00 0.29

Belgium 3,018,454 .45 2 .62

BE6258027729 2.2500 % Anheuser-Busch InBev EUR MTN 13/20 EUR 300.0 300.0 % 106.750 320,248.50 0.28

BE6266619319 1.1250 % Belfius Bank EUR MTN 14/17 EUR 300.0 300.0 % 101.309 303,927.00 0.26

BE0932180103 4.3750 % Belgacom EUR MTN 06/16 EUR 300.0 300.0 % 108.522 325,564.50 0.28

BE6271706747 2.8750 % Belgium Government EUR Bonds 14/24 USD 1,000.0 1,000.0 % 100.223 792,523.45 0.69

BE0002420926 2.7500 % Eandis EUR MTN 12/22 EUR 500.0 500.0 % 110.579 552,895.00 0.48

BE0002456318 1.1250 % ING Belgium EUR Notes 13/18 EUR 700.0 700.0 % 103.328 723,296.00 0.63

Bermuda 535,360 .83 0 .46

US66989GAA85 5.1250 % Novartis Securities Investment USD Notes 09/19 USD 600.0 600.0 %

112.836 535,360.83 0.46

British Virgin Islands 347,281 .50 0 .30

XS0617785943 5.5000 % Global Switch Holdings EUR MTN 11/18 EUR 800.0 300.0 % 115.761 347,281.50 0.30

Bulgaria 251,338 .75 0 .22

XS1083844503 2.9500 % Bulgaria Government EUR Bonds 14/24 EUR 250.0 250.0 % 100.536 251,338.75 0.22

Germany 17,216,834 .81 14 .91 DE0001030526 1.7500 % Bundesrepublik Deutschland Inflation Linked EUR Bonds 09/20 EUR 4,398.9 33.3 4,365.6 % 114.035 4,978,266.35 4.31 DE000CZ40JW9 1.6250 % Commerzbank EUR MTN 13/20 EUR 500.0 500.0 % 106.152 530,760.00 0.46 XS1088129660 1.7500 % CRH Finance Germany EUR MTN 14/21 EUR 450.0 450.0 % 101.821 458,192.25 0.40 DE000DB7XJB9 1.2500 % Deutsche Bank EUR MTN 14/21 EUR 200.0 200.0 % 100.013 200,026.00 0.17 DE000DB5DCM7 2.1250 % Deutsche Bank EUR MTN 12/19 EUR 500.0 500.0 % 108.044 540,220.00 0.47 XS0977500767 1.5000 % Deutsche Post EUR MTN 13/18 EUR 300.0 300.0 % 103.998 311,994.00 0.27 XS0456708212 7.0000 % Evonik Industries EUR Notes 09/14 EUR 700.0 % 100.199 701,389.50 0.60 US30254WAD11 1.6250 % FMS Wertmanagement USD Notes 13/18 USD 1,500.0 1,500.0 % 99.891 1,184,847.17 1.03 AU0000KFWHO9 6.0000 % Kreditanstalt für Wiederaufbau AUD MTN

10/20 AUD 1,000.0 1,000.0 % 112.538 776,754.64 0.67

US500769FW98 2.7500 % Kreditanstalt für Wiederaufbau USD MTN 13/20

USD 2,000.0 2,000.0 % 103.438 1,635,893.02 1.42 DE000A1MATC7 0.4090 % Land Berlin EUR FLR-Notes 12/16 S. 366 EUR 400.0 % 100.311 401,244.00 0.35 DE000A1K0V43 0.2260 % Land Bremen EUR FLR-Notes

Documents

盧森堡商業暨公司登記處登記編號 B94.920 Allianz Global … · 2) For the period from 01/07/2014 to 30/09/2014 2) 2014 年7 月1日至 4 9 30 日之期間 For additional