-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LXX7DqwZsMK9neYPUdbsQFYa8DkE44M20X1+NNTMM1DG8XsDpphBLcvdkSe+xTo2 jXPSu0gxm/9RL2vWMF7HLg== 0000088053-05-000243.txt : 20050301 0000088053-05-000243.hdr.sgml : 20050301 20050301113813 ACCESSION NUMBER: 0000088053-05-000243 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041231 FILED AS OF DATE: 20050301 DATE AS OF CHANGE: 20050301 EFFECTIVENESS DATE: 20050301 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SCUDDER ADVISOR FUNDS CENTRAL INDEX KEY: 0000797657 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-04760 FILM NUMBER: 05648657 BUSINESS ADDRESS: STREET 1: FEDERATED INVESTORS TOWERS CITY: PITTSBURGH STATE: PA ZIP: 15222-3770 BUSINESS PHONE: 412881401 MAIL ADDRESS: STREET 1: ONE SOUTH STREET STREET 2: XX CITY: BALTIMORE STATE: MD ZIP: 21202 FORMER COMPANY: FORMER CONFORMED NAME: BT INVESTMENT FUNDS DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: BT TAX FREE INVESTMENT TRUST DATE OF NAME CHANGE: 19880530 N-Q 1 nq123104af_lmr.txt N-Q FILING UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY ------------------------------- Investment Company Act file number 811-04760 Scudder Advisor Funds --------------------- (Exact name of registrant as specified in charter) One South Street Baltimore, MD 21202 ------------------- (Address of principal executive offices) (Zip code) Salvatore Schiavone Two International Place Boston, Massachusetts 02110 --------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: (617) 295-2663 -------------- Date of fiscal year end: 03/31 ----- Date of reporting period: 12/31/04 ---------- Form N-Q is to be used by registered management investment companies, other than small business investment companies registered on Form N-5 (ss.ss. 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-4). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles. A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507. ITEM 1. SCHEDULE OF INVESTMENTS
Scudder Lifecycle Mid Range Fund Investment Portfolio as of December 31, 2004 (Unaudited) - ----------------------------------------------------------------------------------------------------------------------------- Shares Value ($) --------------------------------------- Common Stocks 36.0% Consumer Discretionary 4.3% Auto Components 0.1% Dana Corp. 200 3,466 Delphi Corp. 800 7,216 Goodyear Tire & Rubber Co.* 1,000 14,660 Johnson Controls, Inc. 500 31,720 -------- 57,062 Automobiles 0.2% Ford Motor Co. 2,800 40,992 General Motors Corp. 900 36,054 Harley-Davidson, Inc. 400 24,300 -------- 101,346 Distributors 0.0% Genuine Parts Co. 300 13,218 -------- Hotels Restaurants & Leisure 0.7% Carnival Corp. 1,200 69,156 Darden Restaurants, Inc. 700 19,418 Harrah's Entertainment, Inc. 200 13,378 Hilton Hotels Corp. 600 13,644 International Game Technology 900 30,942 Marriott International, Inc., "A" 300 18,894 McDonald's Corp. 1,900 60,914 Starbucks Corp.* 600 37,416 Starwood Hotels & Resorts Worldwide, Inc. 300 17,520 Wendy's International, Inc. 200 7,852 YUM! Brands, Inc. 400 18,872 -------- 308,006 Household Durables 0.3% Black & Decker Corp. 100 8,833 Centex Corp. 400 23,832 Fortune Brands, Inc. 200 15,436 KB Home 100 10,440 Leggett & Platt, Inc. 300 8,529 Maytag Corp. 100 2,110 Newell Rubbermaid, Inc. 1,000 24,190 Pulte Homes, Inc. 200 12,760 Snap-on, Inc. 100 3,436 The Stanley Works 100 4,899 Whirlpool Corp. 100 6,922 -------- 121,387 Internet & Catalog Retail 0.3% eBay, Inc.* 1,100 127,908 -------- Leisure Equipment & Products 0.0% Brunswick Corp. 100 4,950 Eastman Kodak Co. 400 12,900 -------- 17,850 Media 1.3% Clear Channel Communications, Inc. 100 3,349 Comcast Corp., "A"* 3,400 113,152 Dow Jones & Co., Inc. 100 4,306 Gannett Co., Inc. 400 32,680 Interpublic Group of Companies, Inc.* 600 8,040 Knight-Ridder, Inc. 300 20,082 McGraw-Hill Companies, Inc. 400 36,616 Meredith Corp. 100 5,420 News Corp., "A" 3,900 72,774 Time Warner, Inc.* 6,900 134,136 Univision Communications, Inc., "A"* 500 14,635 Viacom, Inc., "B" 2,600 94,614 Walt Disney Co. 3,100 86,180 -------- 625,984 Multiline Retail 0.3% Big Lots, Inc.* 200 2,426 Dillard's, Inc., "A" 100 2,687 Federated Department Stores, Inc. 300 17,337 J.C. Penny Co., Inc. 400 16,560 Kohl's Corp.* 500 24,585 Nordstrom, Inc. 200 9,346 Target Corp. 1,400 72,702 -------- 145,643 Specialty Retail 0.9% AutoNation, Inc.* 400 7,684 AutoZone, Inc.* 100 9,131 Bed Bath & Beyond, Inc.* 500 19,915 Best Buy Co., Inc. 700 41,594 Circuit City Stores, Inc. 1,200 18,768 Home Depot, Inc. 3,300 141,042 Lowe's Companies, Inc. 1,200 69,108 Office Depot, Inc.* 500 8,680 OfficeMax, Inc. 100 3,138 RadioShack Corp. 200 6,576 Sherwin-Williams Co. 200 8,926 Staples, Inc. 800 26,968 The Gap, Inc. 1,300 27,456 TJX Companies, Inc. 700 17,591 Toys "R" Us, Inc.* 800 16,376 -------- 422,953 Textiles, Apparel & Luxury Goods 0.2% Coach, Inc.* 500 28,200 Jones Apparel Group, Inc. 200 7,316 NIKE, Inc., "B" 500 45,345 Reebok International Ltd. 100 4,400 VF Corp. 200 11,076 -------- 96,337 Consumer Staples 3.6% Beverages 0.8% Adolph Coors Co., "B" 100 7,567 Anheuser-Busch Companies, Inc. 1,200 60,876 Coca-Cola Co. 3,000 124,890 Coca-Cola Enterprises, Inc. 1,400 29,190 Pepsi Bottling Group, Inc. 400 10,816 PepsiCo, Inc. 2,500 130,500 -------- 363,839 Food & Staples Retailing 1.1% Costco Wholesale Corp. 700 33,887 CVS Corp. 600 27,042 Kroger Co.* 1,100 19,294 Safeway, Inc.* 700 13,818 SUPERVALU, Inc. 200 6,904 Sysco Corp. 100 3,818 Wal-Mart Stores, Inc. 6,400 338,048 Walgreen Co. 1,500 57,555 -------- 500,366 Food Products 0.4% Archer-Daniels-Midland Co. 1,600 35,696 ConAgra Foods, Inc. 800 23,560 General Mills, Inc. 800 39,776 Hershey Foods Corp. 400 22,216 Kellogg Co. 600 26,796 McCormick & Co, Inc. 200 7,720 Sara Lee Corp. 100 2,414 William Wrigley Jr. Co. 300 20,757 -------- 178,935 Household Products 0.6% Clorox Co. 200 11,786 Colgate-Palmolive Co. 300 15,348 Kimberly-Clark Corp. 700 46,067 Procter & Gamble Co. 3,800 209,304 -------- 282,505 Personal Products 0.2% Alberto-Culver Co., "B" 400 19,428 Avon Products, Inc. 700 27,090 Gillette Co. 1,500 67,170 -------- 113,688 Tobacco 0.5% Altria Group, Inc. 3,300 201,630 Reynolds American, Inc. 400 31,440 UST, Inc. 500 24,055 -------- 257,125 Energy 2.6% Energy Equipment & Services 0.4% Baker Hughes, Inc. 500 21,335 BJ Services Co. 200 9,308 Halliburton Co. 700 27,468 Nabors Industries Ltd.* 500 25,645 Noble Corp.* 400 19,896 Rowan Companies, Inc.* 200 5,180 Schlumberger Ltd. 900 60,255 Transocean, Inc.* 700 29,673 -------- 198,760 Oil & Gas 2.2% Amerada Hess Corp. 100 8,238 Anadarko Petroleum Corp. 600 38,886 Apache Corp. 700 35,399 Ashland, Inc. 100 5,838 Burlington Resources, Inc. 600 26,100 ChevronTexaco Corp. 2,600 136,526 ConocoPhillips 1,200 104,196 Devon Energy Corp. 700 27,244 El Paso Corp. 1,000 10,400 EOG Resources, Inc. 400 28,544 ExxonMobil Corp. 9,800 502,348 Kerr-McGee Corp. 200 11,558 Kinder Morgan, Inc. 200 14,626 Occidental Petroleum Corp. 600 35,016 Sunoco, Inc. 100 8,171 Unocal Corp. 400 17,296 Valero Energy Corp. 400 18,160 Williams Companies, Inc. 800 13,032 XTO Energy, Inc. 400 14,156 -------- 1,055,734 Financials 7.3% Banks 2.4% AmSouth Bancorp. 500 12,950 Bank of America Corp. 6,100 286,639 BB&T Corp. 800 33,640 Comerica, Inc. 300 18,306 Compass Bancshares, Inc. 200 9,734 Fifth Third Bancorp. 800 37,824 First Horizon National Corp. 200 8,622 Golden West Financial Corp. 500 30,710 KeyCorp. 600 20,340 M&T Bank Corp. 200 21,568 Marshall & Ilsley Corp. 300 13,260 National City Corp. 1,400 52,570 North Fork Bancorp., Inc. 665 19,185 PNC Financial Services Group 400 22,976 Regions Financial Corp. 700 24,913 Sovereign Bancorp, Inc. 500 11,275 SunTrust Banks, Inc. 600 44,328 US Bancorp. 2,800 87,696 Wachovia Corp. 2,400 126,240 Washington Mutual, Inc. 1,300 54,964 Wells Fargo & Co. 2,600 161,590 Zions Bancorp. 100 6,803 -------- 1,106,133 Capital Markets 0.9% Bank of New York Co., Inc. 1,200 40,104 Bear Stearns Companies, Inc. 300 30,693 E*TRADE Financial Corp.* 1,300 19,435 Federated Investors, Inc., "B" 200 6,080 Franklin Resources, Inc. 400 27,860 Goldman Sachs Group, Inc. 700 72,828 Janus Capital Group, Inc. 400 6,724 Lehman Brothers Holdings, Inc. 500 43,740 Mellon Financial Corp. 600 18,666 Merrill Lynch & Co., Inc. 1,400 83,678 Morgan Stanley 1,200 66,624 T. Rowe Price Group, Inc. 200 12,440 -------- 428,872 Consumer Finance 0.5% American Express Co. 1,900 107,103 Capital One Financial Corp. 400 33,684 MBNA Corp. 1,900 53,561 Providian Financial Corp.* 400 6,588 SLM Corp. 600 32,034 -------- 232,970 Diversified Financial Services 1.8% CIT Group, Inc. 300 13,746 Citigroup, Inc. 7,300 351,714 Countrywide Financial Corp. 900 33,309 Fannie Mae 1,500 106,815 Freddie Mac 1,000 73,700 JPMorgan Chase & Co. 5,400 210,654 MGIC Investment Corp. 100 6,891 Moody's Corp. 400 34,740 Principal Financial Group, Inc. 800 32,752 -------- 864,321 Insurance 1.5% ACE Ltd. 400 17,100 AFLAC, Inc. 800 31,872 Allstate Corp. 1,000 51,720 Ambac Financial Group, Inc. 200 16,426 American International Group, Inc. 3,900 256,113 Aon Corp. 500 11,930 Chubb Corp. 300 23,070 Cincinnati Financial Corp. 600 26,556 Jefferson-Pilot Corp. 200 10,392 Lincoln National Corp. 600 28,008 Loews Corp. 300 21,090 Marsh & McLennan Companies, Inc. 800 26,320 MBIA, Inc. 200 12,656 MetLife, Inc. 1,100 44,561 Progressive Corp. 300 25,452 Prudential Financial, Inc. 1,000 54,960 Safeco Corp. 200 10,448 St. Paul Travelers Companies, Inc. 300 11,121 Torchmark Corp. 200 11,428 UnumProvident Corp. 400 7,176 XL Capital Ltd., "A" 200 15,530 -------- 713,929 Real Estate 0.2% Apartment Investment & Management Co., "A", (REIT) 100 3,854 Archstone-Smith Trust, (REIT) 300 11,490 Equity Office Properties Trust, (REIT) 600 17,472 Equity Residential, (REIT) 400 14,472 Plum Creek Timber Co., Inc., (REIT) 300 11,532 ProLogis, (REIT) 300 12,999 Simon Property Group, Inc., (REIT) 300 19,401 -------- 91,220 Health Care 4.5% Biotechnology 0.6% Amgen, Inc.* 2,100 134,715 Applera Corp. - Applied Biosystems Group 300 6,273 Biogen Idec, Inc.* 500 33,305 Chiron Corp.* 300 9,999 Genzyme Corp.* 500 29,035 Gilead Sciences, Inc.* 1,000 34,990 MedImmune, Inc.* 400 10,844 -------- 259,161 Health Care Equipment & Supplies 0.9% Bausch & Lomb, Inc. 100 6,446 Baxter International, Inc. 900 31,086 Becton, Dickinson & Co. 400 22,720 Biomet, Inc. 400 17,356 Boston Scientific Corp.* 1,700 60,435 C.R. Bard, Inc. 200 12,796 Fisher Scientific International, Inc.* 348 21,708 Guidant Corp. 500 36,050 Hospira, Inc.* 200 6,700 Medtronic, Inc. 1,800 89,406 Millipore Corp.* 100 4,981 PerkinElmer, Inc. 200 4,498 St. Jude Medical, Inc.* 900 37,737 Stryker Corp. 600 28,950 Thermo Electron Corp.* 200 6,038 Waters Corp.* 200 9,358 Zimmer Holdings, Inc.* 400 32,048 -------- 428,313 Health Care Providers & Services 0.7% Cardinal Health, Inc. 200 11,630 Caremark Rx, Inc.* 700 27,601 CIGNA Corp. 200 16,314 Express Scripts, Inc.* 300 22,932 HCA, Inc. 600 23,976 Health Management Associates, Inc., "A" 400 9,092 Humana, Inc.* 200 5,938 Laboratory Corp. of America Holdings* 200 9,964 Manor Care, Inc. 100 3,543 McKesson Corp. 400 12,588 Medco Health Solutions, Inc.* 400 16,640 Quest Diagnostics, Inc. 200 19,110 Tenet Healthcare Corp.* 700 7,686 UnitedHealth Group, Inc. 1,100 96,833 WellPoint, Inc.* 500 57,500 -------- 341,347 Pharmaceuticals 2.3% Abbott Laboratories 2,400 111,960 Allergan, Inc. 300 24,321 Bristol-Myers Squibb Co. 3,300 84,546 Eli Lilly & Co. 1,300 73,775 Forest Laboratories, Inc.* 600 26,916 Johnson & Johnson 4,500 285,390 King Pharmaceuticals, Inc.* 400 4,960 Merck & Co., Inc. 3,400 109,276 Mylan Laboratories, Inc. 400 7,076 Pfizer, Inc. 10,400 279,656 Schering-Plough Corp. 1,000 20,880 Watson Pharmaceuticals, Inc.* 500 16,405 Wyeth 1,400 59,626 -------- 1,104,787 Industrials 4.3% Aerospace & Defense 0.8% Boeing Co. 1,300 67,301 General Dynamics Corp. 300 31,380 Goodrich Corp. 200 6,528 Honeywell International, Inc. 1,300 46,033 L-3 Communications Holdings, Inc. 200 14,648 Lockheed Martin Corp. 700 38,885 Northrop Grumman Corp. 600 32,616 Raytheon Co. 700 27,181 Rockwell Collins, Inc. 300 11,832 United Technologies Corp. 800 82,680 -------- 359,084 Air Freight & Logistics 0.4% FedEx Corp. 500 49,245 Ryder System, Inc. 100 4,777 United Parcel Service, Inc., "B" 1,700 145,282 -------- 199,304 Airlines 0.0% Delta Air Lines, Inc.* 200 1,496 Southwest Airlines Co. 1,200 19,536 -------- 21,032 Building Products 0.0% American Standard Companies, Inc.* 300 12,396 -------- Commercial Services & Supplies 0.4% Allied Waste Industries, Inc.* 500 4,640 Apollo Group, Inc., "A"* 300 24,213 Avery Dennison Corp. 200 11,994 Cendant Corp. 2,200 51,436 Cintas Corp. 300 13,161 Equifax, Inc. 200 5,620 H&R Block, Inc. 200 9,800 Monster Worldwide, Inc.* 200 6,728 Pitney Bowes, Inc. 300 13,884 R.R. Donnelley & Sons Co. 700 24,703 Waste Management, Inc. 900 26,946 -------- 193,125 Electrical Equipment 0.2% American Power Conversion Corp. 300 6,420 Cooper Industries, Ltd., "A" 100 6,789 Emerson Electric Co. 600 42,060 Power-One, Inc.* 100 892 Rockwell Automation, Inc. 300 14,865 -------- 71,026 Industrial Conglomerates 1.7% 3M Co. 900 73,863 General Electric Co. 16,000 584,000 Textron, Inc. 200 14,760 Tyco International Ltd. 3,400 121,516 -------- 794,139 Machinery 0.6% Caterpillar, Inc. 500 48,755 Cummins, Inc. 100 8,379 Danaher Corp. 500 28,705 Deere & Co. 600 44,640 Dover Corp. 300 12,582 Eaton Corp. 200 14,472 Illinois Tool Works, Inc. 400 37,072 Ingersoll-Rand Co., "A" 300 24,090 ITT Industries, Inc. 100 8,445 Navistar International Corp.* 100 4,398 PACCAR, Inc. 300 24,144 Pall Corp. 200 5,792 Parker-Hannifin Corp. 400 30,296 -------- 291,770 Road & Rail 0.2% Burlington Northern Santa Fe Corp. 600 28,386 CSX Corp. 300 12,024 Norfolk Southern Corp. 600 21,714 Union Pacific Corp. 400 26,900 -------- 89,024 Trading Companies & Distributors 0.0% W.W. Grainger, Inc. 100 6,662 -------- Information Technology 6.0% Communications Equipment 1.0% ADC Telecommunications, Inc.* 1,200 3,216 Andrew Corp.* 1,200 16,356 Avaya, Inc.* 1,300 22,360 CIENA Corp.* 900 3,006 Cisco Systems, Inc.* 10,000 193,000 Comverse Technologies, Inc.* 300 7,335 Corning, Inc.* 2,100 24,717 JDS Uniphase Corp.* 2,200 6,974 Lucent Technologies, Inc.* 6,700 25,192 Motorola, Inc. 3,700 63,640 QUALCOMM, Inc. 2,500 106,000 Scientific-Atlanta, Inc. 200 6,602 Tellabs, Inc.* 700 6,013 -------- 484,411 Computers & Peripherals 1.5% Apple Computer, Inc.* 800 51,520 Dell, Inc.* 4,100 172,774 EMC Corp.* 3,600 53,532 Gateway, Inc.* 600 3,606 Hewlett-Packard Co. 3,400 71,298 International Business Machines Corp. 2,500 246,450 Lexmark International, Inc., "A"* 400 34,000 NCR Corp.* 300 20,769 Network Appliance, Inc.* 1,000 33,220 QLogic Corp.* 100 3,673 Sun Microsystems, Inc.* 5,100 27,438 -------- 718,280 Electronic Equipment & Instruments 0.1% Agilent Technologies, Inc.* 700 16,870 Jabil Circuit, Inc.* 800 20,464 Molex, Inc. 300 9,000 Sanmina-SCI Corp.* 800 6,776 Solectron Corp.* 1,500 7,995 Symbol Technologies, Inc. 400 6,920 -------- 68,025 Internet Software & Services 0.2% Yahoo!, Inc.* 2,100 79,128 -------- IT Consulting & Services 0.4% Affiliated Computer Services, Inc., "A"* 400 24,076 Automatic Data Processing, Inc. 900 39,915 Computer Sciences Corp.* 300 16,911 Convergys Corp.* 200 2,998 Electronic Data Systems Corp. 800 18,480 First Data Corp. 1,300 55,302 Fiserv, Inc.* 300 12,057 Sabre Holdings Corp. 200 4,434 SunGard Data Systems, Inc.* 400 11,332 Unisys Corp.* 500 5,090 -------- 190,595 Office Electronics 0.1% Xerox Corp.* 1,400 23,814 -------- Semiconductors & Semiconductor Equipment 1.1% Advanced Micro Devices, Inc.* 1,100 24,222 Altera Corp.* 1,100 22,770 Applied Materials, Inc.* 2,600 44,460 Applied Micro Circuits Corp.* 500 2,105 Broadcom Corp., "A"* 500 16,140 Freescale Semiconductor, Inc., "B"* 1,197 21,977 Intel Corp. 8,500 198,815 KLA-Tencor Corp.* 300 13,974 Linear Technology Corp. 500 19,380 LSI Logic Corp.* 600 3,288 Maxim Integrated Products, Inc. 500 21,195 Micron Technology, Inc.* 2,000 24,700 Novellus Systems, Inc.* 200 5,578 NVIDIA Corp.* 300 7,068 PMC-Sierra, Inc.* 300 3,375 Teradyne, Inc.* 300 5,121 Texas Instruments, Inc. 2,600 64,012 -------- 498,180 Software 1.6% Adobe Systems, Inc. 400 25,096 Autodesk, Inc. 300 11,385 BMC Software, Inc.* 300 5,580 Citrix Systems, Inc.* 800 19,624 Computer Associates International, Inc. 900 27,954 Compuware Corp.* 600 3,882 Electronic Arts, Inc.* 500 30,840 Intuit, Inc.* 300 13,203 Mercury Interactive Corp.* 400 18,220 Microsoft Corp. 16,400 438,044 Novell, Inc.* 600 4,050 Oracle Corp.* 7,800 107,016 Parametric Technology Corp.* 2,700 15,903 Siebel Systems, Inc.* 800 8,400 Symantec Corp.* 1,000 25,760 VERITAS Software Corp.* 600 17,130 -------- 772,087 Materials 1.1% Chemicals 0.6% Air Products & Chemicals, Inc. 300 17,391 Dow Chemical Co. 1,400 69,314 E.I. du Pont de Nemours & Co. 1,000 49,050 Eastman Chemical Co. 100 5,773 Ecolab, Inc. 400 14,052 Great Lakes Chemical Corp. 100 2,849 Hercules, Inc.* 1,100 16,335 International Flavors & Fragrances, Inc. 100 4,284 Monsanto Co. 400 22,220 PPG Industries, Inc. 300 20,448 Praxair, Inc. 500 22,075 Rohm & Haas Co. 300 13,269 Sigma-Aldrich Corp. 100 6,046 -------- 263,106 Construction Materials 0.0% Vulcan Materials Co. 200 10,922 -------- Containers & Packaging 0.1% Ball Corp. 500 21,990 Pactiv Corp.* 200 5,058 Sealed Air Corp.* 100 5,327 -------- 32,375 Metals & Mining 0.2% Alcoa, Inc. 1,300 40,846 Newmont Mining Corp. 700 31,087 Nucor Corp. 500 26,170 United States Steel Corp. 200 10,250 -------- 108,353 Paper & Forest Products 0.2% Georgia-Pacific Corp. 400 14,992 International Paper Co. 700 29,400 Louisiana-Pacific Corp. 200 5,350 MeadWestvaco Corp. 700 23,723 Weyerhaeuser Co. 600 40,332 -------- 113,797 Telecommunication Services 1.2% Diversified Telecommunication Services 1.1% ALLTEL Corp. 700 41,132 AT&T Corp. 1,200 22,872 BellSouth Corp. 2,800 77,812 CenturyTel, Inc. 200 7,094 Citizens Communications Co. 500 6,895 Qwest Communications International, Inc.* 2,700 11,988 SBC Communications, Inc. 5,000 128,850 Sprint Corp. 2,200 54,670 Verizon Communications, Inc. 4,200 170,142 -------- 521,455 Wireless Telecommunication Services 0.1% Nextel Communications, Inc., "A"* 2,100 63,000 -------- Utilities 1.1% Electric Utilities 0.7% Allegheny Energy, Inc.* 200 3,942 American Electric Power Co. 600 20,604 CenterPoint Energy, Inc. 500 5,650 Cinergy Corp. 300 12,489 Consolidated Edison, Inc. 400 17,500 DTE Energy Co. 300 12,939 Edison International 500 16,015 Entergy Corp. 300 20,277 Exelon Corp. 1,000 44,070 FirstEnergy Corp. 500 19,755 FPL Group, Inc. 300 22,425 PG&E Corp.* 600 19,968 Pinnacle West Capital Corp. 100 4,441 PPL Corp. 300 15,984 Progress Energy, Inc. 400 18,096 Southern Co. 1,100 36,872 TECO Energy, Inc. 300 4,602 TXU Corp. 500 32,280 Xcel Energy, Inc. 600 10,920 -------- 338,829 Gas Utilities 0.1% KeySpan Corp. 200 7,890 NiSource, Inc. 400 9,112 Peoples Energy Corp. 100 4,395 -------- 21,397 Multi-Utilities 0.3% AES Corp.* 1,000 13,670 Calpine Corp.* 800 3,152 CMS Energy Corp.* 300 3,135 Constellation Energy Group, Inc. 300 13,113 Dominion Resources, Inc. 500 33,870 Duke Energy Corp. 1,400 35,462 Dynegy, Inc., "A"* 600 2,772 Public Service Enterprise Group, Inc. 600 31,062 Sempra Energy 700 25,676 -------- 161,912 Total Common Stocks (Cost $14,357,524) 17,066,927 ---------- Principal Amount ($) Value ($) Corporate Bonds 8.6% Consumer Discretionary 0.4% Auburn Hills Trust, 12.375%, 5/1/2020 24,000 37,643 Comcast Cable Communications, Inc., 8.375%, 3/15/2013 105,000 129,475 General Motors Corp., 8.375%, 7/15/2033 35,000 36,263 -------- 203,381 Energy 1.1% CenterPoint Energy Resources Corp., Series B, 7.875%, 4/1/2013 60,000 71,315 Duke Capital LLC: 4.302%, 5/18/2006 75,000 75,905 5.668%, 8/15/2014 46,000 47,465 Enterprise Products Operating LP, 7.5%, 2/1/2011 79,000 89,570 Halliburton Co., 5.5%, 10/15/2010 135,000 142,193 Pemex Project Funding Master Trust, 144A, 3.79%**, 6/15/2010 80,000 82,080 -------- 508,528 Financials 3.8% Agfirst Farm Credit Bank, 8.393%**, 12/15/2016 325,000 374,258 American General Finance Corp., Series H, 4.0%, 3/15/2011 73,000 70,796 Capital One Bank, 4.875%, 5/15/2008 5,000 5,135 Ford Motor Credit Co.: 5.8%, 1/12/2009 70,000 71,550 6.875%, 2/1/2006 320,000 329,664 General Motors Acceptance Corp.: 6.75%, 1/15/2006 125,000 128,235 6.875%, 9/15/2011 41,000 42,016 Goldman Sachs Group, Inc., 4.75%, 7/15/2013 76,000 75,205 Merrill Lynch & Co., Inc., Series C, 5.0%, 1/15/2015 90,000 89,647 Morgan Stanley, 4.0%, 1/15/2010 75,000 74,148 Pennsylvania Mutual Life Insurance Co., 144A, 6.65%, 6/15/2034 75,000 80,926 RAM Holdings Ltd., 144A, 6.875%, 4/1/2024 220,000 216,060 Republic New York Corp., 5.875%, 10/15/2008 120,000 127,726 Wells Fargo & Co., 4.2%, 1/15/2010 139,000 139,565 --------- 1,824,931 Health Care 0.7% Health Care Service Corp., 144A, 7.75%, 6/15/2011 285,000 333,450 --------- Materials 0.5% Lubrizol Corp.: 4.625%, 10/1/2009 155,000 154,761 6.5%, 10/1/2034 59,000 60,089 --------- 214,850 Telecommunication Services 0.4% Bell Atlantic New Jersey, Inc., Series A, 5.875%, 1/17/2012 80,000 84,997 BellSouth Corp., 5.2%, 9/15/2014 75,000 76,442 SBC Communications, Inc., 4.125%, 9/15/2009 40,000 39,927 --------- 201,366 Utilities 1.7% Consumers Energy Co., 6.25%, 9/15/2006 293,000 305,909 Ohio Valley Electric Corp., 144A, 5.94%, 2/12/2006 335,000 344,609 Pedernales Electric Cooperative, Series 2002-A, 144A, 6.202%, 11/15/2032 145,000 156,003 --------- 806,521 Total Corporate Bonds (Cost $3,958,346) 4,093,027 --------- Asset Backed 3.4% Automobile Receivables 1.3% Drive Auto Receivables Trust, "A4", Series 2002-1, 144A, 4.09%, 1/15/2008 110,000 110,616 MMCA Automobile Trust: A4, Series 2002-2, 4.3%, 3/15/2010 383,990 385,384 A4, Series 2001-4, 4.92%, 8/15/2007 86,476 87,119 B, Series 2002-1, 5.37%, 1/15/2010 35,535 35,902 --------- 619,021 Home Equity Loans 1.7% Advanta Mortgage Loan Trust, "A6", Series 2000-2, 7.72%, 3/25/2015 281,351 296,111 Argent NIM Trust, "A", Series 2004-WN2, 144A, 4.55%, 4/25/2034 72,988 73,129 Park Place Securities NIM Trust, "A", Series 2004-MCW1, 144A, 4.458%, 9/25/2034 95,104 95,104 Renaissance NIM Trust, "A", Series 2004-A, 144A, 4.45%, 6/25/2034 90,365 90,281 Residential Asset Securities Corp., "A2B2", Series 2004-KS2, 2.658%**, 3/25/2034 215,000 215,004 --------- 769,629 Manufactured Housing Receivables 0.4% Greenpoint Manufactured Housing, "A3", Series 1999-5, 7.33%, 8/15/2020 198,321 199,427 --------- Total Asset Backed (Cost $1,583,357) 1,588,077 --------- Foreign Bonds - US$ Denominated 5.6% Energy 0.1% Petroleos Mexicanos, Series P, 9.5%, 9/15/2027 45,000 56,700 --------- Financials 2.6% Deutsche Telekom International Finance BV, 8.75%, 6/15/2030 153,000 202,030 Endurance Specialty Holdings Ltd., 7.0%, 7/15/2034 20,000 20,594 Korea First Bank, 144A, 5.75%**, 3/10/2013 39,000 40,559 PF Export Receivable Master Trust, 144A, 6.6%, 12/1/2011 550,000 587,207 QBE Insurance Group Ltd., 144A, 5.647%**, 7/1/2023 125,000 122,772 Westfield Capital Corp.: 144A, 4.375%, 11/15/2010 15,000 14,836 144A, 5.125%, 11/15/2014 235,000 233,871 --------- 1,221,869 Industrials 1.8% Autopista Del Maipo, 144A, 7.373%, 6/15/2022 455,000 525,366 Tyco International Group SA: 6.75%, 2/15/2011 200,000 224,157 6.875%, 1/15/2029 60,000 68,731 7.0%, 6/15/2028 35,000 40,692 --------- 858,946 Materials 0.4% Sappi Papier Holding AG, 144A, 6.75%, 6/15/2012 157,000 174,444 --------- Sovereign Bonds 0.5% United Mexican States: Series A, 6.75%, 9/27/2034 40,000 39,500 8.375%, 1/14/2011 175,000 205,538 --------- 245,038 Telecommunication Services 0.2% America Movil SA de CV, 144A, 5.75%, 1/15/2015 100,000 99,772 --------- Total Foreign Bonds - US$ Denominated (Cost $2,498,744) 2,656,769 --------- US Government Agency Sponsored Pass-Throughs 3.2% Federal Home Loan Mortgage Corp.: 5.0%, 7/1/2018 112,506 114,344 6.0%, 12/1/2033 260,337 269,050 Federal National Mortgage Association: 4.5% with various maturities from 3/1/2018 until 11/1/2018 218,134 217,931 5.42%, 11/1/2008 114,427 119,366 5.5% with various maturities from 3/1/2018 until 5/1/2034 597,597 608,285 6.0%, 3/1/2015 143,105 150,226 7.0%, 4/1/2032 2 2 9.0%, 11/1/2030 29,747 32,705 Total US Government Agency Sponsored Pass-Throughs --------- (Cost $1,503,460) 1,511,909 Commercial and Non-Agency Mortgage-Backed Securities 4.6% Citigroup Mortgage Loan Trust, Inc., "1A2", Series 2004-NCM-1, 6.5%, 6/25/2034 139,713 146,131 Countrywide Alternative Loan Trust: 1A1, Series 2004-J1, 6.0%, 2/25/2034 71,171 72,155 7A1, Series 2004-J2, 6.0%, 12/25/2033 80,804 82,723 CS First Boston Mortgage Securities Corp.: A2, Series 2001-CK3, 6.04%, 6/15/2034 105,000 107,873 DLJ Commercial Mortgage Corp., "A1A", Series 1998-CF1, 6.14%, 2/18/2031 92,252 92,445 DLJ Mortgage Acceptance Corp., "A1B", Series 1997-CF2, 144A, 6.82%, 10/15/2030 92,218 98,056 GMAC Commercial Mortgage Securities, Inc., "A3", Series 1997-C1, 6.869%, 7/15/2029 200,341 211,949 JPMorgan Commercial Mortgage Finance Corp., "A3", Series 1997-C5, 7.088%, 9/15/2029 174,777 185,869 Master Alternative Loans Trust: 2A1, Series 2004-3, 6.25%, 4/25/2034 257,004 266,320 8A1, Series 2004-3, 7.0%, 4/25/2034 82,928 86,634 Master Asset Securitization Trust, "8A1", Series 2003-6, 5.5%, 7/25/2033 115,512 116,451 Morgan Stanley Capital I, "A1", Series 1999-FNV1, 6.12%, 3/15/2031 100,521 103,582 Residential Asset Securitization Trust, "A1", Series 2003-A11, 4.25%, 11/25/2033 178,247 178,628 Wachovia Bank Commercial Mortgage Trust, "A5", Series 2004-C11, 5.215%, 1/15/2041 210,000 216,207 Washington Mutual MSC Mortgage Pass-Through, "1A22", Series 2003-MS3, 5.75%, 3/25/2033 82,382 82,523 Wells Fargo Mortgage Backed Securities Trust, "1A1", Series 2003-6, 5.0%, 6/25/2018 146,564 147,846 Total Commercial and Non-Agency Mortgage-Backed --------- Securities (Cost $2,217,454) 2,195,392 Collateralized Mortgage Obligations 10.6% Fannie Mae Grantor Trust: 1A3, Series 2004-T2, 7.0%, 11/25/2043 74,523 78,971 1A3, Series 2004-T3, 7.0%, 2/25/2044 39,502 41,860 A2, Series 2002-T16, 7.0%, 7/25/2042 89,220 94,545 Fannie Mae Whole Loan: 1A3, Series 2003-W18, 4.732%, 8/25/2043 150,000 150,723 2A, Series 2003-W8, 7.0%, 10/25/2042 92,395 97,474 2A, Series 2002-W1, 7.5%, 2/25/2042 79,128 84,533 5A, Series 2004-W2, 7.5%, 3/25/2044 230,424 246,651 Federal Home Loan Mortgage Corp.: LB, Series 2755, 4.0%, 9/15/2023 155,000 155,275 LJ, Series 2612, 4.0%, 7/15/2022 100,895 101,162 NB, Series 2750, 4.0%, 12/15/2022 378,000 377,499 TC, Series 2728, 4.0%, 2/15/2023 310,000 309,715 LC, Series 2682, 4.5%, 7/15/2032 230,000 222,235 ON, Series 2776, 4.5%, 11/15/2032 125,000 118,996 BG, Series 2640, 5.0%, 2/15/2032 305,000 306,154 BM, Series 2497, 5.0%, 2/15/2022 29,094 29,435 JD, Series 2778, 5.0%, 12/15/2032 130,000 129,188 OE, Series 2840, 5.0%, 2/15/2033 220,000 216,480 PD, Series 2783, 5.0%, 1/15/2033 112,000 111,068 PD, Series 2844, 5.0%, 12/15/2032 220,000 217,733 PE, Series 2777, 5.0%, 4/15/2033 240,000 238,376 TE, Series 2827, 5.0%, 4/15/2033 175,000 174,068 QE, Series 2113, 6.0%, 11/15/2027 98,283 100,216 Z, Series 2173, 6.5%, 7/15/2029 92,344 96,937 B, Series 1997-M5, 6.65%, 8/25/2007 77,493 81,045 C, Series 1997-M5, 6.74%, 8/25/2007 145,000 155,042 3A, Series T-41, 7.5%, 7/25/2032 51,605 55,014 Federal National Mortgage Association: 2A3, Series 2001-4, 4.16%, 6/25/2042 140,000 140,432 NE, Series 2004-52, 4.5%, 7/25/2033 113,000 107,364 OA, Series 2003-8, 4.5%, 2/25/2016 216,282 217,169 1A5, Series 2003-W14, 4.71%, 9/25/2043 270,000 271,396 KH, Series 2003-92, 5.0%, 3/25/2032 150,000 148,360 1A2, Series 2003-W3, 7.0%, 8/25/2042 11,565 12,255 A3, Series 2002-T19, 7.5%, 7/25/2042 128,380 137,827 Total Collateralized Mortgage Obligations --------- (Cost $5,041,165) 5,025,198 Municipal Investments 4.0% Delaware River, DE, Port Authority, Port District Project, Series A, 7.27%, 1/1/2007 (e) 180,000 192,872 Houston, TX, Airport Revenue, 6.88%, 1/1/2028 (e) 275,000 323,548 Illinois, State General Obligation, 4.95%, 6/1/2023 105,000 102,030 Lansing, MI, Water & Sewer Revenue, Board Water & Light Water Supply Steam, Series B, 7.3%, 7/1/2006 (e) 605,000 639,999 Virginia, Multi-Family Housing Revenue, Housing Development Authority, Series A, 6.51%, 5/1/2019 (e) 610,000 637,096 --------- Total Municipal Investments (Cost $1,731,433) 1,895,545 Government National Mortgage Association 1.9% Government National Mortgage Association: 3.75%, 6/20/2026 310,000 310,291 5.0% with various maturities from 12/16/2032 until 2/20/2033 357,000 356,042 6.0% with various maturities from 10/15/2033 until 7/20/2034 219,730 227,685 Total Government National Mortgage Association --------- (Cost $892,938) 894,018 US Government Backed 10.1% US Treasury Bills: 1.813%***, 1/20/2005 (f) 490,000 489,540 1.94%***, 3/10/2005 2,500,000 2,490,467 2.182%***, 3/24/2005 (f) 40,000 39,805 US Treasury Bond: 6.0%, 2/15/2026 714,000 817,893 7.25%, 5/15/2016 151,000 189,009 US Treasury Note: 3.125%, 10/15/2008 3,000 2,968 3.25%, 1/15/2009 (c) 232,000 229,988 4.25%, 11/15/2013 548,000 551,447 --------- Total US Government Backed (Cost $4,775,203) 4,811,117 Shares Value ($) ------ --------- Securities Lending Collateral 0.1% Daily Assets Fund Institutional, 2.25% (b)(d) (Cost $30,750) 30,750 30,750 --------- Cash Equivalents 14.7% Scudder Cash Management QP Trust, 2.24% (a) (Cost $6,953,114) 6,953,114 6,953,114 --------- % of Net Assets Value ($) ---------- --------- Total Investment Portfolio (Cost $45,543,488) 102.8 48,721,843 Other Assets and Liabilities, Net -2.8 -1,311,094 ---------- Net Assets 100 47,410,749 ==========
For information on the Fund's policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements. * Non-income producing security. In the case of a bond, generally denotes that the issuer has defaulted on the payment of principal or interest or has filed for bankruptcy. ** Floating rate notes are securities whose yields vary with a designated market index or market rate, such as the coupon-equivalent of the US Treasury bill rate. These securities are shown at their current rate as of December 31, 2004. *** Annualized yield at time of purchase; not coupon rate. (a) Scudder Cash Management QP Trust is managed by Deutsche Investment Management Americas Inc. The rate shown is the annualized seven-day yield at period end. (b) Daily Assets Fund Institutional, an affiliated fund, is managed by Deutsche Asset Management, Inc. The rate shown is the annualized seven-day yield at period end. (c) All or a portion of these securities were on loan. The value of all securities loaned at December 31, 2004 amounted to $30,208, which is 0.1% of net assets. (d) Represents collateral held in connection with securities lending. (e) Bond is insured by one of these companies: As of % of Total Insurance Coverage Investment Portfolio - -------------------------------------------------------------------------------- FGIC Financial Guaranty Insurance Company 0.7 - -------------------------------------------------------------------------------- FSA Financial Security Assurance 0.4 - -------------------------------------------------------------------------------- MBIA Municipal Bond Investors Assurance 2.6 - -------------------------------------------------------------------------------- (f) At December 31, 2004, this security has been pledged, in whole or in part, to cover initial margin requirements for open futures contracts. Included in the portfolio are investments in mortgage or asset-backed securities which are interests in separate pools of mortgages or assets. Effective maturities of these investments may be shorter than stated maturities due to prepayments. Some separate investments in the Federal National Mortgage Association and Government National Mortgage Association issues have similar coupon rates and have been aggregated for presentation purposes in the investment portfolio. 144A: Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. REIT: Real Estate Investment Trust At December 31, 2004, open futures contracts purchased were as follows:
Aggregate Unrealized Futures Expiration Date Contracts Face Value ($) Value Appreciation ($) - ------------------------------------------------------------------------------------------------------------------------ Share Price Index 200 3/17/2005 1 76,982 79,487 2,505 - ------------------------------------------------------------------------------------------------------------------------ Topix Index 3/10/2005 8 858,546 895,872 37,326 - ------------------------------------------------------------------------------------------------------------------------ S&P Canada 60 Index 3/17/2005 1 84,403 85,616 1,213 - ------------------------------------------------------------------------------------------------------------------------ Total net unrealized appreciation 41,044 - ------------------------------------------------------------------------------------------------------------------------ At December 31, 2004, open futures contracts sold were as follows: Unrealized Futures Expiration Date Contracts Face Value ($) Value Depreciation ($) - ------------------------------------------------------------------------------------------------------------------------ 10 Year US Treasury Notes 3/21/2005 40 4,453,471 4,477,500 24,029 - ------------------------------------------------------------------------------------------------------------------------ S&P 500 Index 3/17/2005 1 299,045 303,425 4,380 - ------------------------------------------------------------------------------------------------------------------------ Total net unrealized depreciation 28,409 - ------------------------------------------------------------------------------------------------------------------------
As of December 31, 2004, the Fund had the following open forward foreign currency exchange contracts:
Unrealized Contracts to Deliver In Exchange For Date Appreciation - ------------------------------------------------------------------------------------------------------------------------------- JPY 14,068,000 USD 137,402 1/4/2005 74 - ------------------------------------------------------------------------------------------------------------------------------- JPY 25,729,000 USD 251,840 2/2/2005 168 - ------------------------------------------------------------------------------------------------------------------------------- USD 15,929 EUR 12,000 1/4/2005 382 - ------------------------------------------------------------------------------------------------------------------------------- USD 272,020 NZD 379,000 2/2/2005 654 - ------------------------------------------------------------------------------------------------------------------------------- USD 37,952 AUD 50,000 1/4/2005 1,230 - ------------------------------------------------------------------------------------------------------------------------------- EUR 413,000 USD 563,022 2/2/2005 1,521 - ------------------------------------------------------------------------------------------------------------------------------- USD 182,763 NZD 257,000 1/5/2005 2,756 - ------------------------------------------------------------------------------------------------------------------------------- USD 309,264 NZD 433,000 1/5/2005 3,304 - ------------------------------------------------------------------------------------------------------------------------------- GBP 514,000 USD 991,573 1/4/2005 5,021 - ------------------------------------------------------------------------------------------------------------------------------- USD 1,642,173 CAD 1,975,000 2/1/2005 5,887 - ------------------------------------------------------------------------------------------------------------------------------- GBP 846,000 USD 1,824,834 1/4/2005 9,119 - ------------------------------------------------------------------------------------------------------------------------------- USD 2,191,411 AUD 2,816,000 2/2/2005 9,844 - ------------------------------------------------------------------------------------------------------------------------------- USD 2,179,541 GBP 1,143,000 1/4/2005 14,288 - ------------------------------------------------------------------------------------------------------------------------------- USD 2,249,733 AUD 2,909,000 1/4/2005 29,847 - ------------------------------------------------------------------------------------------------------------------------------- Total unrealized appreciation 84,095 - ------------------------------------------------------------------------------------------------------------------------------- Unrealized Contracts to Deliver In Exchange For Date Depreciation - ------------------------------------------------------------------------------------------------------------------------------ CAD 595,000 USD 481,930 1/4/2005 (14,657) - ------------------------------------------------------------------------------------------------------------------------------ USD 807,264 CAD 954,000 1/4/2005 (11,055) - ------------------------------------------------------------------------------------------------------------------------------ AUD 2,816,000 USD 2,196,480 1/4/2005 (10,223) - ------------------------------------------------------------------------------------------------------------------------------ USD 1,358,143 CAD 1,616,000 1/4/2005 (9,430) - ------------------------------------------------------------------------------------------------------------------------------ USD 1,821,428 GBP 946,000 2/2/2005 (9,375) - ------------------------------------------------------------------------------------------------------------------------------ EUR 294,000 USD 391,740 1/4/2005 (7,890) - ------------------------------------------------------------------------------------------------------------------------------ CAD 1,975,000 USD 1,642,412 1/4/2005 (5,923) - ------------------------------------------------------------------------------------------------------------------------------ USD 613,148 GBP 317,000 1/4/2005 (4,710) - ------------------------------------------------------------------------------------------------------------------------------ EUR 131,000 USD 174,508 1/4/2005 (3,559) - ------------------------------------------------------------------------------------------------------------------------------ USD 96,350 JPY 10,068,000 1/4/2005 (1,931) - ------------------------------------------------------------------------------------------------------------------------------ USD 562,919 EUR 413,000 1/4/2005 (1,534) - ------------------------------------------------------------------------------------------------------------------------------ CHF 262,000 USD 229,033 1/4/2005 (1,423) - ------------------------------------------------------------------------------------------------------------------------------ NZD 311,000 USD 223,183 1/5/2005 (1,317) - ------------------------------------------------------------------------------------------------------------------------------ USD 236,588 CHF 268,000 1/4/2005 (855) - ------------------------------------------------------------------------------------------------------------------------------ AUD 143,000 USD 111,340 1/4/2005 (719) - ------------------------------------------------------------------------------------------------------------------------------ NZD 379,000 USD 272,880 1/5/2005 (707) - ------------------------------------------------------------------------------------------------------------------------------ USD 251,383 JPY 25,729,000 1/4/2005 (224) - ------------------------------------------------------------------------------------------------------------------------------ CHF 6,000 USD 5,185 1/4/2005 (93) - ------------------------------------------------------------------------------------------------------------------------------ JPY 1,593,000 USD 15,548 1/4/2005 (2) - ------------------------------------------------------------------------------------------------------------------------------ Total unrealized depreciation (85,627) - ------------------------------------------------------------------------------------------------------------------------------
Currency Abbreviation - -------------------------------------------------------------------------------- AUD Australian Dollar - -------------------------------------------------------------------------------- CAD Canadian Dollar - -------------------------------------------------------------------------------- CHF Swiss Franc - -------------------------------------------------------------------------------- EUR Euros - -------------------------------------------------------------------------------- GBP British Pounds - -------------------------------------------------------------------------------- JPY Japanese Yen - -------------------------------------------------------------------------------- NZD New Zealand Dollar - -------------------------------------------------------------------------------- USD United States Dollar - -------------------------------------------------------------------------------- SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Registrant: Scudder Lifecycle Mid Range Fund By: /s/Julian Sluyters ----------------------------- Julian Sluyters Chief Executive Officer Date: February 22, 2005 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. Registrant: Scudder Lifecycle Mid Range Fund By: /s/Julian Sluyters ----------------------------- Julian Sluyters Chief Executive Officer Date: February 22, 2005 By: /s/Paul Schubert -------------------------- Paul Schubert Chief Financial Officer Date: February 22, 2005 EX-99.CERT 2 cert-af_lmr.txt CERTIFICATION CERTIFICATIONS I, Julian Sluyters, certify that: 1. I have reviewed this report on Form N-Q of Scudder Lifecycle Mid Range Fund; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Registrant: Scudder Lifecycle Mid Range Fund By: /s/ Julian Sluyters --------------------------- Julian Sluyters Chief Executive Officer Date: February 22, 2005 CERTIFICATIONS I, Paul Schubert, certify that: 1. I have reviewed this report on Form N-Q of Scudder Lifecycle Mid Range Fund; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Registrant: Scudder Lifecycle Mid Range Fund By: /s/ Paul Schubert --------------------------- Paul Schubert Chief Financial Officer Date: February 22, 2005 -----END PRIVACY-ENHANCED MESSAGE-----