0000088053-14-001281.txt : 20140925 0000088053-14-001281.hdr.sgml : 20140925 20140925151840 ACCESSION NUMBER: 0000088053-14-001281 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20140731 FILED AS OF DATE: 20140925 DATE AS OF CHANGE: 20140925 EFFECTIVENESS DATE: 20140925 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DEUTSCHE INTERNATIONAL FUND, INC. CENTRAL INDEX KEY: 0000088053 IRS NUMBER: 132827803 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-00642 FILM NUMBER: 141120531 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 212-454-6778 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: DWS INTERNATIONAL FUND, INC. DATE OF NAME CHANGE: 20060207 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER INTERNATIONAL FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER INTERNATIONAL INVESTMENTS LTD DATE OF NAME CHANGE: 19761203 0000088053 S000006029 Deutsche World Dividend Fund C000016562 Class A SERAX C000016564 Class B SERBX C000016565 Class C SERCX C000016566 Class S SCGEX C000016567 Institutional Class SERNX C000148127 Class R6 N-Q 1 nq073114wdf.htm DEUTSCHE WORLD DIVIDEND FUND nq073114wdf.htm
 
 
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:  811-00642
 
Deutsche International Fund, Inc.
(Exact name of registrant as specified in charter)

345 Park Avenue
New York, NY 10154
(Address of principal executive offices)  (Zip code)
 

Paul Schubert
60 Wall Street
New York, NY 10005
(Name and address of agent for service)
 
Registrant's telephone number, including area code:  (212) 250-3220
 
Date of fiscal year end:  10/31
 
Date of reporting period:  7/31/2014

ITEM 1.
SCHEDULE OF INVESTMENTS


Investment Portfolio    as of July 31, 2014  (Unaudited)
 
Deutsche World Dividend Fund
(formerly DWS World Dividend Fund)
 
Shares
  
Value ($)
  
 
 
Common Stocks 94.8%
  
Bermuda 2.9%
  
PartnerRe Ltd. (a) (Cost $6,514,415)
  
104,762
  
10,932,962
  
Canada 9.3%
  
Bank of Nova Scotia
  
58,155
  
3,947,403
  
Canadian Natural Resources Ltd.
  
306,128
  
13,344,581
  
Canadian Oil Sands Ltd.
  
739,122
  
15,787,730
  
Franco-Nevada Corp. (b)
  
41,263
  
2,334,585
  
 
(Cost $28,443,316)
  
35,414,299
  
Finland 1.4%
  
Sampo Oyj "A"  (Cost $2,673,050)
  
107,240
  
5,325,270
  
France 3.1%
  
Air Liquide SA
  
36,869
  
4,693,228
  
Sanofi
  
67,906
  
7,124,675
  
 
(Cost $7,467,458)
  
11,817,903
  
Germany 2.6%
  
Wincor Nixdorf AG  (Cost $10,031,056)
  
192,219
  
9,786,635
  
Hong Kong 4.1%
  
Jardine Matheson Holdings Ltd.  (Cost $14,472,887)
  
261,285
  
15,657,823
  
Japan 1.3%
  
NTT DoCoMo, Inc.  (Cost $4,649,308)
  
286,558
  
5,052,694
  
Netherlands 7.8%
  
Koninklijke Philips NV
  
238,134
  
7,329,283
  
Unilever NV (CVA)
  
383,633
  
15,793,201
  
Wolters Kluwer NV
  
246,235
  
6,799,721
  
 
(Cost $23,955,194)
  
29,922,205
  
Poland 1.2%
  
Powszechny Zaklad Ubezpieczen SA  (Cost $2,979,179)
  
32,577
  
4,578,261
  
Switzerland 4.0%
  
Nestle SA (Registered)
  
69,274
  
5,142,631
  
Novartis AG (Registered)
  
68,394
  
5,970,071
  
Transocean Ltd. (a) (b)
  
104,913
  
4,232,190
  
 
(Cost $11,153,106)
  
15,344,892
  
United Kingdom 18.3%
  
BAE Systems PLC
  
596,174
  
4,302,681
  
British American Tobacco PLC
  
403,154
  
23,594,340
  
CNH Industrial NV (a)
  
880,166
  
8,106,329
  
Imperial Tobacco Group PLC
  
228,672
  
9,903,950
  
National Grid PLC
  
106,108
  
1,528,285
  
Pearson PLC
  
290,196
  
5,575,006
  
Smiths Group PLC
  
172,226
  
3,694,860
  
Tesco PLC
  
3,034,995
  
13,133,807
  
 
(Cost $63,381,151)
  
69,839,258
  
United States 38.8%
  
C.H. Robinson Worldwide, Inc.
  
255,689
  
17,248,780
  
Cisco Systems, Inc.
  
420,390
  
10,606,440
  
Coach, Inc.
  
340,301
  
11,760,802
  
ConocoPhillips
  
22,536
  
1,859,220
  
Diebold, Inc. (b)
  
176,425
  
6,647,694
  
Leucadia National Corp.
  
382,724
  
9,457,110
  
Microsoft Corp.
  
349,632
  
15,090,117
  
PepsiCo, Inc.
  
224,016
  
19,735,809
  
Procter & Gamble Co.
  
263,359
  
20,362,918
  
Staples, Inc. (b)
  
164,114
  
1,902,081
  
Stryker Corp.
  
46,593
  
3,716,724
  
UGI Corp.
  
352,394
  
17,105,205
  
Verizon Communications, Inc. (c) (d)
  
14,940
  
757,016
  
Verizon Communications, Inc. (c)
  
236,255
  
11,911,977
  
 
(Cost $123,621,817)
  
148,161,893
  
 
Total Common Stocks (Cost $299,341,937)
  
361,834,095
  
 
 
Securities Lending Collateral 2.4%
  
Daily Assets Fund Institutional, 0.10% (e) (f) (Cost $9,026,689)
    
9,026,689
  
9,026,689
  
 
 
Cash Equivalents 5.0%
  
Central Cash Management Fund, 0.06% (e) (Cost $19,062,521)
    
19,062,521
  
19,062,521
  
         
 
% of
Net Assets
  
Value ($)
  
 
Total Investment Portfolio (Cost $327,431,147) †
102.2
  
389,923,305
  
Other Assets and Liabilities, Net
(2.2)
  
(8,221,994)
  
 
Net Assets
100.0
  
381,701,311
  
 
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.
  
 
†
The cost for federal income tax purposes was $328,648,694.  At July 31, 2014, net unrealized appreciation for all securities based on tax cost was $61,274,611.  This consisted of aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost of $69,407,464 and aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value of $8,132,853.
  
(a)
Listed on the New York Stock Exchange.
  
(b)
All or a portion of these securities were on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The value of securities loaned at July 31, 2014 amounted to $8,693,399, which is 2.3 of net assets.
  
(c)
Securities with the same description are the same corporate entity but trade on different stock exchanges.
  
(d)
Listed on the London Stock Exchange.
  
(e)
Affiliated fund managed by Deutsche Investment Management Americas Inc.  The rate shown is the annualized seven-day yield at period end.
  
(f)
Represents collateral held in connection with securities lending.  Income earned by the Fund is net of borrower rebates.
  
 
CVA: Certificaten Van Aandelen (Certificate of Stock)
  
   
At July 31, 2014 the Deutsche World Dividend Fund had the following sector diversification:
  
 
Sector Diversification
  
Market Value ($)
  
As a % of Common Stocks
Consumer Staples
     107,666,656       29.8 %
Industrials
     56,339,756       15.6 %
Information Technology
     42,130,886       11.6 %
Energy
     35,223,721       9.7 %
Financials
     34,241,006       9.5 %
Consumer Discretionary
     26,037,610       7.2 %
Utilities
     18,633,490       5.2 %
Telecommunication Services
     17,721,687       4.9 %
Health Care
     16,811,470       4.6 %
Materials
     7,027,813       1.9 %
Total
     361,834,095       100.0 %
 
Sector diversification is subject to change.
  
 

 
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 or liquidity associated with investing in those securities.

The following is a summary of the inputs used as of July 31, 2014 in valuing the Fund's investments.

Assets
  
Level 1
    
Level 2
    
Level 3
    
Total
  
Common Stocks
                        
Bermuda
   $ 10,932,962     $ —     $ —     $ 10,932,962  
Canada
     35,414,299       —       —       35,414,299  
Finland
     —       5,325,270       —       5,325,270  
France
     —       11,817,903       —       11,817,903  
Germany
     —       9,786,635       —       9,786,635  
Hong Kong
     —       15,657,823       —       15,657,823  
Japan
     —       5,052,694       —       5,052,694  
Netherlands
     —       29,922,205       —       29,922,205  
Poland
     —       4,578,261       —       4,578,261  
Switzerland
     4,232,190       11,112,702       —       15,344,892  
United Kingdom
     8,106,329       61,732,929       —       69,839,258  
United States
     147,404,877       757,016       —       148,161,893  
Short-Term Investments (g)
     28,089,210       —       —       28,089,210  
   
Total
   $ 234,179,867     $ 155,743,438     $ —     $ 389,923,305  
   
 
There have been no transfers between fair value measurement levels during the period ended July 31, 2014.
  
 
(g)
See Investment Portfolio for additional detailed categorizations.
  



ITEM 2.
CONTROLS AND PROCEDURES
   
 
(a)   The Chief Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.
   
 
(b)   There have been no changes in the registrant’s internal control over financial reporting that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal controls over financial reporting.
   
ITEM 3.
EXHIBITS
   
 
Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.

 

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:
Deutsche World Dividend Fund, a series of Deutsche International Fund, Inc.
   
By:
/s/Brian E. Binder
Brian E. Binder
President
   
Date:
9/22/2014


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.

By:
/s/Brian E. Binder
Brian E. Binder
President
   
Date:
9/22/2014
   
   
   
By:
/s/Paul Schubert
Paul Schubert
Chief Financial Officer and Treasurer
   
Date:
9/22/2014

EX-99.CERT 2 ex-99cert.htm CERTIFICATION ex-99cert.htm
 
 
CERTIFICATIONS
 
 
I, Brian E. Binder, certify that:
 
 
1.
I have reviewed this report on Form N-Q of Deutsche World Dividend Fund, a series of Deutsche International Fund, Inc.;
 
 
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.

   
By:
/s/Brian E. Binder
Brian E. Binder
President
   
Date:
9/22/2014


 
 
 

CERTIFICATIONS
 
 
I, Paul Schubert, certify that:
 
 
1.
I have reviewed this report on Form N-Q of Deutsche World Dividend Fund, a series of Deutsche International Fund, Inc.;
 
 
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.
 

   
By:
/s/Paul Schubert
Paul Schubert
Chief Financial Officer and Treasurer
   
Date:
9/22/2014