The New Germany Fund, Inc.
| Schedule of Investments | as of March 31, 2020 (Unaudited) |
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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.
A summary of the Fund’s transactions with affiliated investments during the period ended March 31, 2020 are as follows: |
| Value ($) at 12/31/2019 | Purchases Cost ($) |
Sales Proceeds ($) |
Net Realized Gain/ (Loss) ($) |
Net Change in Unrealized Appreciation/ (Depreciation) ($) |
Income ($) |
Capital Gain Distributions ($) |
Number of Shares at 3/31/2020 |
Value ($) at 3/31/2020 |
| Securities Lending Collateral 4.8% | ||||||||
| DWS Government & Agency Securities Portfolio ''DWS Government Cash Institutional Shares'', 0.33% (a) (b) | ||||||||
| 9,548,819 | 960,408 | (c) – | – | – | 34,052 | – | 10,509,227 | 10,509,227 |
| Cash Equivalents 0.0% | ||||||||
| DWS Central Cash Management Government Fund, 0.32% (b) | ||||||||
| 393,417 | 17,407,089 | 17,742,156 | – | – | 6,983 | – | 58,350 | 58,350 |
| 9,942,236 | 18,367,497 | 17,742,156 | – | – | 41,035 | – | 10,567,577 | 10,567,577 |
| * | Non-income producing security. | ||
| † | All or a portion of these securities were on loan. The value of all securities loaned at March 31, 2020 amounted to $10,175,491, which is 4.7% of net assets. | ||
| (a) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. | ||
| (b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. | ||
| (c) | Represents the net increase (purchases cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended March 31, 2020. |
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144A: Securities 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.
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For purposes of its industry concentration policy, the Fund classifies issuers of portfolio securities at the industry sub-group level. Certain of the categories in the above Schedule of Investments consist of multiple industry sub-groups or industries.
Securities are listed in the country of domicile. For purposes of the Fund's investment objective policy to invest in German companies, non-Germany domiciled securities may qualify as German companies as defined in the Fund's Statement of Investment Objectives, Policies and Investment Restrictions. |
| Fair Value Measurements | ||||
| Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk associated with investing in those securities. | ||||
| The following is a summary of the inputs used as of March 31, 2020 in valuing the Fund’s investments. | ||||
| (d) See Schedule of Investments for additional detailed categorizations. |