BlackRock Asset Management Deutschland AG. Annual Report as at 30 April 2011 for the Investment Fund. ishares EURO STOXX (DE)

Transcription

1 BlackRock Asset Management Deutschland AG Annual Report as at 30 April 2011 for the Investment Fund ishares EURO STOXX (DE)

2 Contents. Contents... 2 Notice Note on Licences... 3 Additional Information for Investors in France and Austria Report of the Management Board ishares EURO STOXX (DE)... 6 Composition of the Index... 6 Fund Management Activity Report Annual Report for ishares EURO STOXX (DE) Bases of Taxation Pursuant to Section 5 Para. 1 Sentence 1 No. 1 and No. 2 InvStG Management Company and Custodian Bank

3 Notice. The funds named in this report are governed by German law. Fund units are bought on the basis of the currently valid prospectus and management regulations, supplemented by the most recent annual report concerned and also by the semi-annual report if such a report later than the last annual report exists. The financial statements were drawn up in German and translated into English. Only the German version is legally binding. Note on Licences. Legal Information BlackRock Advisors (UK) Ltd. has been authorised for trading by the British financial market regulator Financial Services Authority ('FSA'), and is under its supervision. The Irish ishares funds mentioned in this document are subfunds of ishares plc, ishares II plc, ishares III plc, ishares IV plc or ishares V plc. These are open-ended investment companies with variable share capital in the form of an umbrella fund, with separate liability for its subfunds. The German ishares funds mentioned in this document are investment funds subject to the German Investment Act (InvG). These funds are managed by BlackRock Asset Management Deutschland AG and are regulated by the Federal Financial Supervisory Authority (BaFin). For Investors in Germany The sales prospectuses of the funds issued in Germany are available free of charge electronically and in hard copy from BlackRock Asset Management Deutschland AG, Max-Joseph-Str. 6, D Munich, Tel: +49 (0) , Fax: +49 (0) , info@ishares.de. The sales prospectuses of the Irish subfunds as well as the annual and semi-annual reports are available free of charge from Commerzbank AG, Jürgen-Ponto- Platz 1, D Frankfurt/Main. Risk Warnings The value of investments in all the ishares funds may fluctuate and investors may not get back the amount invested. Past performance may not be repeated and is no guarantee of future returns. Investment risks from market and currency losses as well as high volatility and concentration risk cannot be excluded. Index - Disclaimers of Liability 'Dow Jones' and 'STOXX' are trademarks and/or service marks of Dow Jones & Company, Inc. and/or STOXX Limited and have been licensed to Barclays Global Investors (Deutschland) AG for specific purposes. The fund ishares DJ EURO STOXX (DE), based on Dow Jones EURO STOXX, is not supported, sold or promoted by Dow Jones or STOXX, and neither Dow Jones nor STOXX make any representations as to the advisability of trading in this product. 'ishares' is a registered trademark of BlackRock Institutional Trust Company, N.A BlackRock Asset Management Deutschland AG. All rights reserved. 3

4 Additional Information for Investors in France and Austria. The sales prospectuses including contractual terms and conditions, financial statements and semi-annual reports can be obtained, without charge, at the relevant paying agent and distributor. Paying Agent and Distributor in France: BNP Paribas Securities Services 20, BD. des Italiens Paris, France Paying Agent and Distributor in Austria: Bank Austria Creditanstalt AG Lasallestr Vienna, Austria Tax Representative in Austria: Ernst & Young Wagramer Str Vienna, Austria 4

5 Report of the Management Board. Dear Investors, BlackRock Asset Management Deutschland AG is able to look back on a very successful fiscal year. Private and institutional investors value the benefits provided by the reasonable pricing, liquidity and transparency of ishares ETFs. BlackRock conducts all its global business in exchange traded index funds (ETFs) under the ishares brand. As at 30 April 2011 the volume of assets under management for the 64 ishares funds currently managed in Germany was EUR billion, making BlackRock Asset Management Deutschland AG the fifth-largest retail fund company in Germany (source: BVI - Bundesverband Investment und Asset Management e.v.). This annual report provides detailed information about the performance of our index funds. Our ETF product range includes 159 ishares funds approved in Germany, providing investors with easy and diversified access to a large number of worldwide markets and asset classes. More than a third of these exchangetraded index funds are both issued and managed in Germany. The code (DE) in the fund name identifies them as such. In November 2010, ishares listed the world s first European high-yield ETF on the Deutsche Börse. Six additional ishares ETFs have been listed on the Deutsche Börse since February These include currency-hedged products on the Japanese and global equity markets and on the S&P 500 and ETFs on the Indian and Russian equity markets which are based on a new, transparent and fully hedged swap-based model, as well as an additional index fund on the US equity market. The crowning achievement of the financial year was winning numerous national and international awards. Among other awards, ishares was awarded the Golden Bull from uro Finanzen as ETF House of the Year 2011 and won readers choice prizes as Best ETF Provider and Best ETF Bond Provider at the portfolio ETF Awards. ETFs have flourished since their launch ten years ago in Germany and Europe. On 11 April 2000, ishares DJ Euro STOXX 50 (now: ishares EURO STOXX 50) and ishares DJ STOXX 50 (now: ishares STOXX Europe 50) were the first exchange-traded index funds to be listed on the Deutsche Börse. This listing of the first ETFs has been instrumental in making a lasting change to the European investment landscape. ETFs have provided investors with new avenues in portfolio management, particularly through their high level of liquidity, efficiency and transparency. As a provider from the outset, ishares retains its outstanding positioning in the European ETF market. We are continuing to invest in excellent service and products that meet the needs of our customers. We adjusted our STOXX-sector product range on 31 March 2011 by transferring our previous swap-based products to existing fully replicating products. This merger makes ishares the only ETF issuer that offers a competitive UCITS IIIcompliant and fully replicating STOXX sector product range. We intend to develop our market leadership further through the continuous and innovative extension of our product range. Among the strategic competitive advantages of ishares ETFs are high market liquidity, narrow bid/ask spreads and a high level of precision in index replication. Please visit our website or call us on +49 (0) for further information. We would like to thank you for your trust and we are looking forward to continuing to work together in partnership. Your BlackRock Asset Management Deutschland AG Directors Dr. Dirk Klee Martina G. Reichl 5

6 ishares EURO STOXX (DE) Composition of the Index Index Securities weight in % Total S.A. Actions au Porteur EO Siemens AG Namens-Aktien o.n Banco Santander S.A. Acciones Nom. EO Telefónica S.A. Acciones Port. EO BASF SE Namens-Aktien o.n Sanofi-Aventis S.A. Actions Port. EO BNP Paribas S.A. Actions Port. EO Bayer AG Namens-Aktien o.n Allianz SE vink.namens-aktien o.n Daimler AG Namens-Aktien o.n E.ON AG Namens-Aktien o.n ENI S.p.A. Azioni nom. EO Deutsche Bank AG Namens-Aktien o.n SAP AG Inhaber-Aktien o.n Banco Bilbao Vizcaya Argent. Acciones Nom. EO GdF Suez S.A. Actions Port. EO Unilever N.V. Cert.v.Aandelen EO ING Groep N.V. Cert.v.Aandelen EO Deutsche Telekom AG Namens-Aktien o.n Société Générale S.A. Actions Port. EO Schneider Electric S.A. Actions Port. EO Anheuser-Busch InBev N.V./S.A. Parts Sociales Nom. o.n LVMH Moët Henn. L. Vuitton SA Actions Port. (C.R.) EO ENEL S.p.A. Azioni nom. EO Danone S.A. Actions Port.(C.R) EO France Télécom Actions Port. EO UniCredit S.p.A. Azioni nom. EO

7 Air Liquide-SA Ét.Expl.P.G.Cl. Actions Port. EO Axa S.A. Actions Port. EO Vivendi S.A. Actions Port. EO Intesa Sanpaolo S.p.A. Azioni nom. EO Vinci S.A. Actions Port. EO Nokia Corp. Registered Shares EO Iberdrola S.A. Acciones Port. EO ArcelorMittal S.A. Actions Nouvelles Nominat. on 0.84 Assicurazioni Generali S.p.A. Azioni nom. EO Linde AG Inhaber-Aktien o.n Bayerische Motoren Werke AG Stammaktien EO Oréal S.A., L' Actions Port. EO Compagnie de Saint-Gobain S.A. Actions au Porteur (C.R.) EO Kon. Philips Electronics N.V. Aandelen aan toonder EO Repsol YPF S.A. Acciones Port. EO Carrefour S.A. Actions Port. EO Volkswagen AG Vorzugsaktien o.st. o.n Münchener Rückvers.-Ges. AG vink.namens-aktien o.n Rwe Ag Inhaber-Stammaktien o.n Kon. KPN N.V. Aandelen aan toonder EO Unibail-Rodamco S.A. Actions Port. EO 5) 0.53 Pernod-Ricard S.A. Actions Port. (C.R.) o.n Industria de Diseño Textil SA Acciones Port. EO ASML Holding N.V. Aandelen op naam EO Akzo Nobel N.V. Aandelen op naam EO Essilor Intl -Cie Génle Opt.SA Actions Port. EO Crh Plc Registered Shares EO Cie Génle Éts Michelin SCpA Actions Nom. EO Crédit Agricole S.A. Actions Port. EO Ahold N.V., Kon. Aandelen aan toonder EO Deutsche Post AG Namens-Aktien O.N Sampo OYJ Bearer Shares Cl.A o.n Deutsche Börse AG Namens-Aktien o.n Telecom Italia S.p.A. Azioni nom. EO adidas AG Inhaber-Aktien o.n ThyssenKrupp AG Inhaber-Aktien o.n Fortum Oyj Registered Shares EO

8 Alcatel-Lucent Actions au Porteur (C.R.) EO Fresenius Medical Care KGaA Inhaber-Stammaktien o.n Bouygues S.A. Actions Port. EO Heineken N.V. Aandelen aan toonder EO Saipem S.p.A. Azioni nom. EO Aegon N.V. Aandelen op naam(demat.)eo MAN SE Inhaber- Stammaktien o.n Alstom S.A. Actions Port. EO Ppr S.A. Actions Port. EO Veolia Environnement S.A. Actions au Porteur EO Vallourec -Us.Tubes Lor.Val.R Actions Port. EO Lafarge S.A. Actions au Porteur EO Renault S.A. Actions Port. EO Infineon Technologies AG Namens-Aktien o.n Henkel AG & Co. KGaA Inhaber-Vorzugsaktien o.st.o.n 0.30 KONE Corp. (New) Registered Shares Cl.B EO Fresenius SE & Co. KGaA Inhaber-Aktien o.n Electricité de France (E.D.F.) Actions au Porteur EO Tenaris S.A. Actions Nom. DL Technip S.A. Actions au Porteur o.n K+S Aktiengesellschaft Inhaber-Aktien o.n Koninklijke DSM N.V. Aandelen op naam EO Erste Group Bank AG Inhaber-Aktien o.n Europ.Aeron.Def.+Space Co.EADS Aandelen aan tonder EO Porsche Automobil Holding SE Inhaber-Vorzugsaktien o.st.o.n 0.27 Safran Actions Port. EO HeidelbergCement AG Inhaber-Aktien o.n Fiat Industrial S.p.A. Azioni nom. EO UPM Kymmene Corp. Bearer Shares o.n Snam Rete Gas Azioni nom. EO 1, EDP - Energias de Portugal SA Acções Nom. EO Reed Elsevier N.V. Aandelen op naam EO Legrand S.A. Actions au Port. EO Cap Gemini S.A. Actions Port. EO Metro Ag Stammaktien o.n Christian Dior S.A. Actions Port. EO Delhaize Group S.A. Parts Sociales Nom. o.n

9 Tnt N.V. Aandelen aan toonder EO Abertis Infraestructuras S.A. Acciones Nom. EO Solvay S.A. Actions Nom. A o.n Portugal Telecom SGPS S.A. Acções Nom. EO Ses S.A. Bearer (repr.shs A)FDR o.n Metso Corp. Registered Shares o.n Fiat S.p.A. Azioni nom. EO Grpe Bruxelles Lambert SA(GBL) Actions Nom. o.n Publicis Groupe S.A. Actions Port. EO STMicroelectronics N.V. Aandelen aan toonder EO Ryanair Holdings PLC Registered Shares EO ) 0.19 Sodexo S.A. Actions Port. EO LANXESS AG bearer shares o.n Atlantia S.p.A. Azioni Nom. EO Ageas Sa/Nv Actions Nominatives o.n National Bank of Greece S.A. Namens-Aktien EO 5, Peugeot S.A Actions Port. (C.R.) EO ACS, Act.de Constr.y Serv. SA Acciones Port. EO Wolters Kluwer N.V. Aandelen op naam EO Red Electrica Corporacion S.A. Acciones Port. EO Stora Enso Oyj Reg. Shares Cl.R o.n. EO Merck KGaA Inhaber-Aktien o.n OMV AG Inhaber-Aktien o.n Nokian Renkaat Oyj Registered Shares EO Parmalat S.p.A. Azioni nom. EO Beiersdorf AG Inhaber-Aktien o.n Wartsila Corp. Reg. Shares o.n Umicore S.A. Actions Nom. New o.n Randstad Holding N.V. Aandelen aan toonder EO Terna S.p.A. Azioni nom. EO ACCOR S.A. Actions Port. EO Fugro N.V. Aandelen op naam EO Belgacom S.A. Actions Nom. o.n GEA Group AG Inhaber-Aktien o.n Banco de Sabadell S.A. Acciones Nom. Serie A EO Gas Natural SDG S.A. Acciones Port. EO Casino,Guichard-Perrachon S.A. Actions Port. EO

10 Suez Environnement Actions Port. EO KBC Groep N.V. Parts Sociales Nom. o.n Unione di Banche Italiane ScpA Azioni nom. EO Ferrovial S.A. Acciones Port. EO Commerzbank AG Inhaber-Aktien o.n Kerry Group PLC Registered Shares A EO voestalpine AG Inhaber-Aktien o.n Mediobanca - Bca Cred.Fin. SpA Azioni nom. EO Arkema Actions au Porteur EO Bco Pop. Esp. SA (POPULARBAN) Acciones Nom. EO Coca Cola Hellenic Bottling Co Namens-Aktien EO Scor Act.au Porteur EO Heineken Holding N.V. Aandelen aan toonder EO Finmeccanica S.p.A. Azioni nom. EO Deutsche Lufthansa AG vink.namens-aktien o.n Lagardère S.C.A. Actions Nom. EO Dassault Systèmes S.A. Actions Port. EO Edenred S.A. Actions Port. EO CGG Veritas S.A. Actions Port. EO Continental AG Inhaber-Aktien o.n Criteria Caixa Corp. Acciones Port. EO Immofinanz AG Inhaber-Aktien o.n Qiagen N.V. Aandelen aan toonder EO Luxottica Group S.p.A. Azioni nom. EO Telekom Austria AG Inhaber-Aktien o.n SBM Offshore N.V. Aandelen op naam EO Galp Energia SGPS S.A. Acções Nominativas EO Rhodia S.A. Actions Port. EO Groupe Eurotunnel S.A. Actions Port. EO Mediaset S.p.A. Azioni nom. EO Natixis S.A. Actions Port. EO Prysmian S.p.A. Azioni nom. EO Eiffage S.A. Actions Port. EO Enel Green Power S.P.A. Azioni nom. EO Banco Popolare Societa Cooper. Azioni nom. o.n Bekaert N.V. Parts Sociales au Port. o.n Ucb S.A. Actions Nom. o.n

11 Valéo S.A. Actions Port. EO Bureau Veritas SA Actions au Porteur EO Air France-KLM S.A. Actions Port. EO Greek Org.of Football Progn. Inhaber-Aktien EO Bilfinger Berger SE Inhaber-Aktien o.n Enagas S.A. Acciones Port. EO Kabel Deutschland Holding AG Inhaber-Aktien o.n Wacker Chemie AG Inhaber-Aktien o.n Établissements Fr. Colruyt SA Actions au Porteur o.n Thales S.A. Actions Port. (C.R.) EO Wendel S.A. Actions Port. EO Corio N.V. Aandelen aan toonder EO Eutelsat Communications Actions Port. EO Brenntag AG Namens-Aktien o.n Bca Monte dei Paschi di Siena Azioni nom. EO Amadeus IT Holding S.A. Acciones Port. EO Hochtief Ag Inhaber-Aktien o.n Aixtron Se Namens-Aktien o.n Gemalto N.V. Aandelen EO Iberdrola Renovables S.A. Acciones Port. EO Klépierre S.A. Actions Port. EO Software AG Inhaber-Aktien o.n Andritz AG Inhaber-Aktien o.n Tognum AG Inhaber-Aktien o.n MTU Aero Engines Holding AG Namens-Aktien o.n Elan Corp. PLC Registered Shares EO Symrise AG Inhaber-Aktien o.n Hannover Rückversicherung AG Namens-Aktien o.n Kon. Boskalis Westminster N.V. Cert.v.Aandelen EO Rheinmetall AG Inhaber-Aktien o.n Jerónimo Martins, SGPS, S.A. Acções Port. EO Kesko Oy Registered Shares Cl. B o.n YIT Oyj Bearer Shares o.n Elisa Oyj Bearer Shares Class A o.n Atos Origin S.A. Actions au Porteur EO Pohjola Pankki Oyj Registered Shares Cl.A o.n CNP Assurances S.A. Actions Port. EO

12 Imtech N.V. Aandelen op naam EO Bca Pop. Emilia Romagna SCaRL Azioni nom. EO Neopost S.A. Actions Port. EO Gecina S.A. Actions Nom. EO Banco Com. Português SA (BCP) Acç. Nom. + Port. Reg. o.n Aéroports de Paris Actions au Port. EO Salzgitter AG Inhaber-Aktien o.n Verbund AG Inhaber-Aktien A o.n Acciona S.A. Acciones Port. EO Grifols S.A. Acciones Port. EO Zodiac Aerospace Actions au Porteur o.n Endesa S.A. Acciones Port. EO Icade S.A. Actions au Porteur o.n Hellenic Telecomm. Organ. S.A. Namens-Aktien EO Outotec Oyi Registered Shares o.n Koninklijke Vopak N.V. Aandelen aan toonder EO Alpha Bank S.A. Namens-Aktien EO Mapfre S.A. Acciones Nom. EO Fraport AG Ffm.Airport.Ser.AG Inhaber-Aktien o.n Rhön-Klinikum Ag Inhaber-Aktien o.n Dcc Plc Registered Shares EO Telenet Group Holding N.V. Actions Nom. o.n Konecranes Oyj Registered Shares o.n Bca Pop. di Sondrio S.C.a.R.L. Azioni nom. EO Bic S.A. Actions Port. EO Eramet S.A. Actions Port. EO United Internet AG Namens-Aktien o.n STADA Arzneimittel AG vink.namens-aktien o.n Wincor Nixdorf AG Inhaber-Aktien o.n Imerys S.A. Actions Port. EO Csm N.V. Aandelen op naam EO Foncière des Régions S.A. Actions Port. EO 3, 0.06 Wienerberger AG Inhaber-Aktien o.n Seb S.A. Actions Port. EO Nutreco N.V. Aandelen aan toonder EO Neste Oil Corp. Registered Shs o.n Nexans S.A. Actions Port. EO

13 ProSiebenSat.1 Media AG Vorzugsaktien o.st.o.n Pirelli & C. S.p.A. Azioni nom. o.n Bolsas y Mercados Espanoles Acciones Nominativas EO Ackermans & van Haaren N.V. Actions Nom. o.n Zardoya Otis S.A. Acciones Port. EO Aalberts Industries N.V. Aandelen aan toonder EO Eurazeo S.A. Actions au Porteur o.n Orion Corp. (New) Registered Shares Cl.B o.n Raiffeisen Bank Intl AG Inhaber-Aktien o.n Ebro Foods S.A. Acciones Nom. EO Dexia S.A. Parts Sociales Nom. o.n Vienna Insurance Group AG Inhaber-Aktien o.n Dragon Oil PLC Registered Shares EO Télévision Fse 1 S.A. (TF1) Actions Port. EO A2A S.p.A. Azioni nom. EO Klöckner & Co SE Namens-Aktien o.n Cie Natle à Portef. S.A. (CNP) Actions au Port. de Cap.o.N Sgl Carbon Se Inhaber-Aktien o.n Axel Springer AG vink.namens-aktien o.n Paddy Power PLC Registered Shares EO Wereldhave N.V. Aandelen aan toonder EO Rautaruukki Oy Registered Shares o.n Banco Espirito Santo S.A. Acç. Nom. + Port. Reg. EO Sanoma Oyj Registered Shares Class B o.n Iliad S.A. Actions au Porteur o.n Mobistar S.A. Actions Nom. o.n Acerinox SA (CE Fab.Acero In.) Acciones Nom. EO Aurubis AG Inhaber-Aktien o.n Davide Campari-Milano S.p.A. Azioni nom. EO Indra Sistemas S.A. Acciones Port. EO Téléperformance S.A. Actions Port. EO Südzucker AG Inhaber-Aktien o.n Cofinimmo S.A., SICAFI Actions Porteur o.n Aperam S.A. Actions Nom. o.n Sofina S.A. Actions Nom. o.n Tecnicas Reunidas S.A. Acciones Port. EO Bankinter S.A. Acciones Nom. EO

14 Gestevision Telecinco S.A. Acciones Nom. EO Public Power Corp. of Greece Inhaber-Aktien EO Celesio AG Namens-Aktien o.n Bourbon S.A. Actions au Porteur o.n Kemira Oy Registered Shares o.n Piraeus Bank S.A. Namens-Aktien EO Gamesa Corp. Tecnologica S.A. Acciones Port. EO Outokumpu Oy Bearer Shares Cl.A o.n Eurocommercial Properties N.V. Cert. van Aandelen 10/EO JCDecaux S.A. Actions au Porteur o.n C&C Group PLC Registered Shares EO EFG Eurobank Ergasias S.A. Namens-Aktien EO Hermes International S.A. Actions au Porteur o.n EDP Renováveis S.A. Acciones Port. EO Banca Carige S.p.A. Azioni nom. EO Delta Lloyd N.V. Aandelen op naam EO EXOR S.p.A. Azioni nom. EO Fomento Construc. Contratas SA Acciones Port. EO biomerieux Actions au Porteur o.n M6 Métropole Télévision S.A. Actions Port.EO PUMA AG Rudolf Dassler Sport Inhaber-Aktien o.n BRISA-Auto-Estradas de Portug. Acções Nom. (Priv.) EO Banca Pop. di Milano S.C.a.R.L Azioni nom. EO Bank of Ireland (The Gov.&Co.) Reg. Capital Stock EO PagesJaunes Group Actions au Porteur EO Banco de Valencia S.A. Acciones Nom. EO

15 ishares EURO STOXX (DE) Fund Management Activity Report The investment objective of the fund ishares EURO STOXX (DE) is to replicate the price index EURO STOXX. The Index contains companies from Eurozone countries that are included in the STOXX Europe 600 index, which in turn contains companies with large, medium and small market capitalisations in 18 developed European economies. Market capitalisation is described as the product of the current share price and the total number of a company's shares. The Investment Fund, which did business under the name ishares DJ EURO STOXX (DE) until 30 June 2010, invests in the securities contained in the Index in line with their weighting in the Index. Dividends are accumulated in the Fund. Additional income is obtained through securities lending. ishares EURO STOXX (DE) is a distributing fund. Income is distributed after expenses have been offset in the course of interim distributions or, as the case may be, six weeks after the end of the financial year. In the reporting period the following index changes were published by the index provider, which were reflected directly in the Fund: New inclusions ISIN 21/06/2010 Outotec Oyi Registered Shares o.n. FI /06/2010 Seb S.A. Actions Port. EO 1 FR /06/2010 C&C Group PLC Registered Shares EO -.01 IE00B010DT83 19/08/2010 Paddy Power PLC Registered Shares EO -.10 IE /07/2010 Edenred S.A. Actions Port. EO 2 FR /09/2010 Amadeus IT Holding S.A. Acciones Port. EO ES /09/2010 Davide Campari-Milano S.p.A. Azioni nom. EO IT /10/2010 ProSiebenSat.1 Media AG Vorzugsaktien o.st.o.n. DE /12/2010 Eurocommercial Properties N.V. Cert. van Aandelen 10/EO 0.50 NL /01/2011 Fiat Industrial S.p.A. Azioni nom. EO 1.50 IT /01/2011 Brenntag AG Namens-Aktien o.n. DE000A1DAHH0 26/01/2011 Aperam S.A. Actions Nom. o.n. LU /02/2011 Fresenius SE & Co. KGaA Inhaber-Aktien o.n. DE /03/2011 Enel Green Power S.P.A. Azioni nom. EO IT

16 New inclusions ISIN 21/03/2011 Kabel Deutschland Holding AG Inhaber-Aktien o.n. DE000KD /03/2011 Axel Springer AG vink.namens-aktien o.n. DE /03/2011 EXOR S.p.A. Azioni nom. EO 1 IT /03/2011 Aalberts Industries N.V. Aandelen aan toonder EO -.25 NL Removals ISIN 21/06/2010 Intercell AG Inhaber-Aktien o.n. AT /06/2010 Befimmo S.C.A. SICAFI Actions au Port. o.n. BE /06/2010 Sacyr Vallehermoso S.A. Acciones Port. EO 1 ES /06/2010 Bank of Greece Namens-Aktien EO 5.60 GRS /06/2010 Koninklijke BAM Groep N.V. Aandelen aan Toonder EO -.10 NL /07/2010 Irish Life & Perm.Grp.Hldg.PLC Registered Shares EO -.32 IE00B59NXW72 20/09/2010 Éts Maurel et Prom S.A. Actions Port. EO -.77 FR /09/2010 Marfin Investment Group Hld.SA Namens-Aktien EO 0.54 GRS /09/2010 Allied Irish Banks PLC Registered Shares -.32 IE /09/2010 Atrium European Real Estat.Ltd Registered Shares o.n. JE00B3DCF752 24/01/2011 Iberia Lin.Aereas de España SA Acciones Nom. EO ES /02/2011 Deutsche Postbank AG Namens-Aktien O.N. DE /02/2011 Fresenius AG Vorzugsaktien o.st. o.n. DE /02/2011 Crucell N.V. Aandelen op naam EO -.24 NL /03/2011 Titan Cement Co. S.A. Namens-Aktien EO 4.- GRS /03/2011 Cimpor-Cim.de Portugal SGPS SA Acções Nom. EO 1 PTCPR0AM /03/2011 Credito Valtellinese S.C.a.R.L Azioni nom. EO 0.50 IT /03/2011 bwin Interactive Entertainm.AG Inhaber-Aktien o.n. AT /03/2011 Soc. Cattolica di Assicur. SpA Azioni nom. EO 3 IT /03/2011 Azimut Holding S.p.A. Azioni nom. EUR o.n. IT /03/2011 SolarWorld AG Inhaber-Aktien o.n. DE

17 Overview of the Index s performance Index name Index level (close) EURO STOXX (price index) /04/2010 Index level (close) /04/2011 High Low Change (%) /02/ /05/ % Overview of the Fund s performance Fund name Unit price (close) ishares EURO STOXX (DE) /04/2010 Unit price (close) High Low Change (%) /04/ ,00 18/02/ /05/ % The realised gains and losses are primarily the result of transactions involving bonds that were carried out as a consequence of changes in indices, corporate actions and the redemption of shares. Material risks and events in the reporting period The Investment Fund is an exchange-traded index fund (ETF) which tracks the performance of the EURO STOXX as closely as possible. In order to achieve the investment objective, fund management activities involved no active management of risks; instead, an exclusively passive investment approach was pursued. Market price risk The Investment Fund was subject to general and specific market price risk arising from individual securities, as throughout the reporting period it replicated the selection of securities and industries prescribed by the index provider within the investment universe of European equities. Volatility for the unit value in the reporting period stood at 20.47%. This meant that the Investment Fund was subject to a high absolute market price risk. Currency risk As prescribed by the index, the Investment Fund invested in the reporting period in Eurozone equities. There was thus no currency risk for Euro investors. Liquidity risk The assets held in the Investment Fund were at all times liquid, so that the liquidity risk is to be regarded as low. 17

18 Operational risk Operational risks for the Investment Fund are managed using the Investment Management Company s risk management system. Business areas/processes that are significant for this Investment Fund and which are outsourced by the Investment Management Company to third parties are subject to an outsourcing controlling process. This includes the outsourcing of the fund accounting to State Street Bank GmbH, Munich and intra-group outsourcing of the trade management process to BlackRock Investment Management (UK) Limited. Processes that are material to this Investment Fund and their related operational risks are subject to a process of regularly identifying, analysing and monitoring operational risks. If operational risks materialise, these events are recorded immediately in a risk database for appropriate documentation and analysis and steps are initiated and taken to minimise the operational risks. With events that affect the Investment Fund, the Company generally compensates for any losses incurred. 18

19 Annual Report for ishares EURO STOXX (DE) for the financial year from 1 May 2010 to 30 April 2011 Detailed summary of assets pursuant to Article 7(2) InvRBV Market value % of in EUR fund assets Equities 510,897, Federal Republic of Germany 140,197, Belgium 16,104, Finland 18,732, France 162,312, Greece 3,583, Ireland 5,716, Italy 45,566, Luxembourg 7,066, Netherlands 44,330, Austria (not including Jungholz and Mittelberg) 5,982, Portugal (incl. Azores and Madeira) 4,164, Spain 57,141, Subscription rights 17, Portugal (incl. Azores and Madeira) 15, Spain 2, Bank accounts 3,143, Other assets 1,129, Other liabilities -73, Fund assets 515,115,

20 Statement of Net Assets as at 30 April 2011 Designation of class of security ISIN Market Units or Balance Purchases/ Sales/ Price Market value % of shares or 30/04/2011 Additions Disposals in EUR fund currency in 1,000 in the reporting period assets Securities Exchange-traded securities Equities A2A S.p.A. Azioni nom. EO 0.52 IT units 234,882 78,618 73,755 EUR , Aalberts Industries N.V. Aandelen aan toonder EO -.25 NL units 17,208 17, EUR , Abertis Infraestructuras S.A. Acciones Nom. EO 3 ES units 67,943 33,321 25,124 EUR ,086, Acciona S.A. Acciones Port. EO 1 ES units 4,781 1,595 1,496 EUR , ACCOR S.A. Actions Port. EO 3 FR units 26,650 9,662 8,325 EUR , Acerinox SA (CE Fab.Acero In.) Acciones Nom. EO -.25 ES units 19,498 6,524 6,119 EUR , Ackermans & van Haaren N.V. Actions Nom. o.n. BE units 4,197 1,400 1,313 EUR , ACS, Act.de Constr.y Serv. SA Acciones Port. EO -.50 ES units 26,721 11,543 12,010 EUR , adidas AG Inhaber-Aktien o.n. DE000A1EWWW0 units 39,126 13,092 12,281 EUR ,966, Aegon N.V. Aandelen op naam(demat.)eo-.12 NL units 324, ,527 90,893 EUR ,742, Aéroports de Paris Actions au Port. EO 3 FR units 5,852 1,955 1,833 EUR , Ageas Sa/Nv Actions Nominatives o.n. BE units 459, , ,462 EUR , Ahold N.V., Kon. Aandelen aan toonder EO0.30 NL units 222,896 74,603 69,988 EUR ,112, Air France-KLM S.A. Actions Port. EO 8.50 FR units 47,330 21,196 14,057 EUR , Air Liquide-SA Ét.Expl.P.G.Cl. Actions Port. EO 11 FR units 53,153 21,088 16,244 EUR ,308, Aixtron Se Namens-Aktien o.n. DE000A0WMPJ6 units 17,325 5,792 5,433 EUR , Akzo Nobel N.V. Aandelen op naam EO 2 NL units 43,322 16,757 13,480 EUR ,271, Alcatel-Lucent Actions au Porteur (C.R.) EO 2 FR units 433, , ,090 EUR ,886, Allianz SE vink.namens-aktien o.n. DE units 84,595 28,308 26,556 EUR ,992, Alpha Bank S.A. Namens-Aktien EO 4.70 GRS units 90,880 30,415 28,533 EUR , Alstom S.A. Actions Port. EO 7 FR units 38,500 13,499 12,053 EUR ,728, Amadeus IT Holding S.A. Acciones Port. EO ES units 35,682 42,633 6,951 EUR , Andritz AG Inhaber-Aktien o.n. AT units 6,905 2,306 2,162 EUR , Anheuser-Busch InBev N.V./S.A. Parts Sociales Nom. o.n. BE units 139,094 50,397 43,472 EUR ,987,

21 Aperam S.A. Actions Nom. o.n. LU units 8,639 10,015 1,376 EUR , ArcelorMittal S.A. Actions Nouvelles Nominat. on LU units 172, , ,902 EUR ,291, Arkema Actions au Porteur EO 10 FR units 9,754 3,554 3,700 EUR , ASML Holding N.V. Aandelen op naam EO -.09 NL units 83,122 29,806 25,668 EUR ,323, Assicurazioni Generali S.p.A. Azioni nom. EO 1 IT units 249,862 83,631 78,457 EUR ,042, Atlantia S.p.A. Azioni Nom. EO 1 IT units 57,332 27,696 21,228 EUR , Atos Origin S.A. Actions au Porteur EO 1 FR units 9,777 4,111 2,932 EUR , Aurubis AG Inhaber-Aktien o.n. DE units 6,496 2,695 1,793 EUR , Axa S.A. Actions Port. EO 2.29 FR units 346, , ,021 EUR ,253, Axel Springer AG vink.namens-aktien o.n. DE units 2,557 2, EUR , Banca Carige S.p.A. Azioni nom. EO 1 IT units 123,686 41,395 38,834 EUR , Banca Pop. di Milano S.C.a.R.L Azioni nom. EO 4 IT units 77,616 25,975 24,368 EUR , Banco Bilbao Vizcaya Argent. Acciones Nom. EO 0.49 ES units 841, , ,830 EUR ,283, Banco Com. Português SA (BCP) Acç. Nom. + Port. Reg. o.n. PTBCP0AM0007 units 673, , ,646 EUR , Banco Com. Português SA (BCP) Anrechte PTBCP0AMI015 units 673, ,995 - EUR , Banco de Sabadell S.A. Acciones Nom. Serie A EO ES A34 units 259, ,414 67,954 EUR , Banco de Valencia S.A. Acciones Nom. EO ) ES F34 units 46, ,594 15,660 EUR , Banco de Valencia S.A. Anrechte ES C2 units 46,138 46,138 - EUR , Banco Espirito Santo S.A. Acç. Nom. + Port. Reg. EO 1 PTBES0AM0007 units 94,145 31,507 29,557 EUR , Banco Popolare Societa Cooper. Azioni nom. o.n. IT units 287, ,515 64,347 EUR , Banco Santander S.A. Acciones Nom. EO 0.50 ES J37 units 1,578, , ,440 EUR ,609, Bank of Ireland (The Gov.&Co.) Reg. Capital Stock EO 0.10 IE units 632, , ,052 EUR , Bankinter S.A. Acciones Nom. EO ) ES I37 units 48,476 17,050 19,619 EUR , BASF SE Namens-Aktien o.n. DE000BASF111 units 171,885 57,529 53,971 EUR ,928, Bayer AG Namens-Aktien o.n. DE000BAY0017 units 154,649 51,759 48,556 EUR ,178, Bayerische Motoren Werke AG Stammaktien EO 1 DE units 60,118 20,118 18,873 EUR ,827, Bca Monte dei Paschi di Siena Azioni nom. EO 0.67 IT units 559, , ,560 EUR , Bca Pop. di Sondrio S.C.a.R.L. Azioni nom. EO 3 IT units 57,627 19,284 18,091 EUR , Bca Pop. Emilia Romagna SCaRL Azioni nom. EO 3 IT units 47,218 15,799 14,821 EUR , Bco Pop. Esp. SA (POPULARBAN) Acciones Nom. EO ES units 168,385 64,333 52,132 EUR , Beiersdorf AG Inhaber-Aktien o.n. DE units 18,638 6,236 5,850 EUR , Bekaert N.V. Parts Sociales au Port. o.n. BE units 6,793 6,196 1,596 EUR , Belgacom S.A. Actions Nom. o.n. BE units 29,388 12,644 8,792 EUR , Bic S.A. Actions Port. EO 3.82 FR units 5,090 1,700 1,594 EUR , Bilfinger Berger SE Inhaber-Aktien o.n. DE units 8,607 2,878 2,699 EUR , biomerieux Actions au Porteur o.n. FR units 2, EUR ,

22 BNP Paribas S.A. Actions Port. EO 2 FR units 186,698 64,139 58,039 EUR ,975, Bolsas y Mercados Espanoles Acciones Nominativas EO 3.23 ES units 12,983 5,567 4,009 EUR , Bourbon S.A. Actions au Porteur o.n. 2) FR units 7,374 2,463 2,310 EUR , Bouygues S.A. Actions Port. EO 1 FR units 55,365 19,601 16,741 EUR ,861, Brenntag AG Namens-Aktien o.n. DE000A1DAHH0 units 6,164 6, EUR , BRISA-Auto-Estradas de Portug. Acções Nom. (Priv.) EO 1 PTBRI0AM0000 units 40,821 13,660 12,814 EUR , Bureau Veritas SA Actions au Porteur EO -.12 FR units 9,759 3,262 3,059 EUR , C&C Group PLC Registered Shares EO -.01 IE00B010DT83 units 65,086 82,081 16,995 EUR , Cap Gemini S.A. Actions Port. EO 8 FR units 29,131 10,011 9,075 EUR ,191, Carrefour S.A. Actions Port. EO 2.5 FR units 113,962 38,141 35,782 EUR ,647, Casino,Guichard-Perrachon S.A. Actions Port. EO 1.53 FR units 10,500 3,509 3,291 EUR , Celesio AG Namens-Aktien o.n. DE000CLS1001 units 14,442 4,829 4,530 EUR , CGG Veritas S.A. Actions Port. EO -.40 FR units 26,407 9,008 10,185 EUR , Christian Dior S.A. Actions Port. EO 2 FR units 10,416 3,483 3,267 EUR ,128, Cie Génle Éts Michelin SCpA Actions Nom. EO 2 FR units 32,989 15,673 9,674 EUR ,232, Cie Natle à Portef. S.A. (CNP) Actions au Port. de Cap.o.N. BE units 5,821 2,232 2,454 EUR , CNP Assurances S.A. Actions Port. EO 1 FR units 26,034 26,363 6,702 EUR , Coca Cola Hellenic Bottling Co Namens-Aktien EO -.50 GRS units 36,254 14,938 10,071 EUR , Cofinimmo S.A., SICAFI Actions Porteur o.n. BE units 2,381 1, EUR , Commerzbank AG Inhaber-Aktien o.n. 2) DE units 164,050 71,984 43,738 EUR , Compagnie de Saint-Gobain S.A. Actions au Porteur (C.R.) EO 4 FR units 81,090 29,364 25,006 EUR ,781, Continental AG Inhaber-Aktien o.n. DE units 9,294 3,107 2,913 EUR , Corio N.V. Aandelen aan toonder EO 10 NL units 10,761 3,712 3,337 EUR , Crédit Agricole S.A. Actions Port. EO 3 FR units 198,249 73,471 68,679 EUR ,228, Crh Plc Registered Shares EO -.32 IE units 134,239 46,810 41,634 EUR ,248, Criteria Caixa Corp. Acciones Port. EO 1 ES units 125,905 42,139 39,532 EUR , Csm N.V. Aandelen op naam EO-.25 NL units 12,343 4,270 3,826 EUR , Daimler AG Namens-Aktien o.n. DE units 166,705 55,797 52,346 EUR ,700, Danone S.A. Actions Port.(C.R) EO-.50 FR units 114,581 38,348 35,976 EUR ,666, Dassault Systèmes S.A. Actions Port. EO 1 FR units 11,568 4,236 3,451 EUR , Davide Campari-Milano S.p.A. Azioni nom. EO IT units 53,222 63,746 10,524 EUR , Dcc Plc Registered Shares EO -.25 IE units 15,523 6,363 4,808 EUR , Delhaize Group S.A. Parts Sociales Nom. o.n. BE units 18,965 6,493 5,893 EUR ,108, Delta Lloyd N.V. Aandelen op naam EO -.20 NL units 11,378 4,155 5,436 EUR , Deutsche Bank AG Namens-Aktien o.n. DE units 174, ,398 47,940 EUR ,680, Deutsche Börse AG Namens-Aktien o.n. DE units 36,467 12,201 11,446 EUR ,045,

23 Deutsche Lufthansa AG vink.namens-aktien o.n. DE units 42,811 14,325 13,438 EUR , Deutsche Post AG Namens-Aktien O.N. DE units 157,229 52,622 49,367 EUR ,100, Deutsche Telekom AG Namens-Aktien o.n. DE units 557, , ,952 EUR ,248, Dexia S.A. Parts Sociales Nom. o.n. BE units 108,078 51,850 45,156 EUR , Dragon Oil PLC Registered Shares EO -.10 IE units 46,023 15,400 14,447 EUR , E.ON AG Namens-Aktien o.n. DE000ENAG999 units 374, , ,506 EUR ,636, Ebro Foods S.A. Acciones Nom. EO 0.60 ES units 17,507 8,304 5,362 EUR , Edenred S.A. Actions Port. EO 2 FR units 30,196 37,201 7,005 EUR , EDP - Energias de Portugal SA Acções Nom. EO 1 PTEDP0AM0009 units 448, , ,686 EUR ,239, EDP Renováveis S.A. Acciones Port. EO 5 ES units 39,951 13,368 12,540 EUR , EFG Eurobank Ergasias S.A. Namens-Aktien EO 3.30 GRS units 56,682 18,968 17,794 EUR , Eiffage S.A. Actions Port. EO 4 FR units 12,490 4,175 3,916 EUR , Elan Corp. PLC Registered Shares EO -.05 IE units 88,509 29,619 27,787 EUR , Electricité de France (E.D.F.) Actions au Porteur EO -.50 FR units 52,382 17,529 16,444 EUR ,488, Elisa Oyj Bearer Shares Class A o.n. FI units 26,109 8,732 8,192 EUR , Enagas S.A. Acciones Port. EO 1.50 ES units 33,485 11,200 10,506 EUR , Endesa S.A. Acciones Port. EO 1.20 ES units 15,721 5,259 4,933 EUR , Enel Green Power S.P.A. Azioni nom. EO IT units 288, ,232 5,955 EUR , ENEL S.p.A. Azioni nom. EO 1 IT units 1,191, , ,247 EUR ,737, ENI S.p.A. Azioni nom. EO 1 IT units 455, , ,102 EUR ,225, Eramet S.A. Actions Port. EO 3.05 FR units 1, EUR , Erste Group Bank AG Inhaber-Aktien o.n. AT units 41,951 17,564 13,381 EUR ,431, Essilor Intl -Cie Génle Opt.SA Actions Port. EO 0.35 FR units 39,833 13,377 13,036 EUR ,251, Établissements Fr. Colruyt SA Actions au Porteur o.n. BE units 13,513 16,178 2,665 EUR , Eurazeo S.A. Actions au Porteur o.n. FR units 5,218 2,025 1,802 EUR , Eurocommercial Properties N.V. Cert. van Aandelen 10/EO 0.50 NL units 6,669 7,895 1,226 EUR , Europ.Aeron.Def.+Space Co.EADS Aandelen aan tonder EO 1 NL units 67,698 22,655 21,253 EUR ,414, Eutelsat Communications Actions Port. EO 1 FR units 17,621 5,893 5,528 EUR , EXOR S.p.A. Azioni nom. EO 1 IT units 8,302 8, EUR , Ferrovial S.A. Acciones Port. EO -.20 ES units 76,653 25,653 24,066 EUR , Fiat Industrial S.p.A. Azioni nom. EO 1.50 IT units 134, ,793 29,960 EUR ,352, Fiat S.p.A. Azioni nom. EO 3.5 IT units 142, , ,726 EUR ,024, Finmeccanica S.p.A. Azioni nom. EO 0.50 IT units 73,054 27,265 25,752 EUR , Fomento Construc. Contratas SA Acciones Port. EO 1 ES units 8,727 2,961 3,335 EUR , Foncière des Régions S.A. Actions Port. EO 3, FR units 4,149 2,415 2,839 EUR , Fortum Oyj Registered Shares EO 3.40 FI units 81,613 27,315 25,625 EUR ,898,

24 France Télécom Actions Port. EO 4 FR units 356, , ,077 EUR ,651, Fraport AG Ffm.Airport.Ser.AG Inhaber-Aktien o.n. DE units 6,566 2,194 2,057 EUR , Fresenius Medical Care KGaA Inhaber-Stammaktien o.n. DE units 35,536 12,182 11,043 EUR ,885, Fresenius SE & Co. KGaA Inhaber-Aktien o.n. DE units 21,373 24,781 3,408 EUR ,514, Fugro N.V. Aandelen op naam EO -.05 NL units 12,788 4,459 3,960 EUR , Galp Energia SGPS S.A. Acções Nominativas EO 1 PTGAL0AM0009 units 40,817 13,659 12,813 EUR , Gamesa Corp. Tecnologica S.A. Acciones Port. EO -.17 ES units 36,591 17,366 12,807 EUR , Gas Natural SDG S.A. Acciones Port. EO 1 ES units 54,575 27,399 19,398 EUR , GdF Suez S.A. Actions Port. EO 1 FR units 249,265 83,429 78,268 EUR ,885, GEA Group AG Inhaber-Aktien o.n. DE units 31,568 42,128 41,474 EUR , Gecina S.A. Actions Nom. EO 0.50 FR units 3,912 1,304 1,223 EUR , Gemalto N.V. Aandelen EO 1 NL units 14,213 5,923 4,394 EUR , Gestevision Telecinco S.A. Acciones Nom. EO ES units 31,508 17,871 8,884 EUR , Greek Org.of Football Progn. Inhaber-Aktien EO 0.30 GRS units 39,153 13,100 12,289 EUR , Grifols S.A. Acciones Port. EO -.50 ES units 28,067 13,072 8,265 EUR , Groupe Eurotunnel S.A. Actions Port. EO -.40 FR units 83,709 36,964 25,538 EUR , Grpe Bruxelles Lambert SA(GBL) Actions Nom. o.n. BE units 15,088 5,044 4,731 EUR ,010, Hannover Rückversicherung AG Namens-Aktien o.n. DE units 11,227 3,752 3,519 EUR , HeidelbergCement AG Inhaber-Aktien o.n. DE units 26,502 8,866 8,317 EUR ,368, Heineken Holding N.V. Aandelen aan toonder EO 1.60 NL units 18,885 6,315 5,925 EUR , Heineken N.V. Aandelen aan toonder EO 1.60 NL units 45,802 15,323 14,378 EUR ,851, Hellenic Telecomm. Organ. S.A. Namens-Aktien EO 2.39 GRS units 45,832 15,336 14,386 EUR , Henkel AG & Co. KGaA Inhaber-Vorzugsaktien o.st.o.n DE units 33,318 11,148 10,458 EUR ,531, Hermes International S.A. Actions au Porteur o.n. FR units 1,348 1,944 12,024 EUR , Hochtief Ag Inhaber-Aktien o.n. DE units 7,878 3,063 4,161 EUR , Iberdrola Renovables S.A. Acciones Port. EO -.50 ES units 157,990 52,879 49,607 EUR , Iberdrola S.A. Acciones Port. EO0.75 ES Y14 units 685, , ,660 EUR ,301, Icade S.A. Actions au Porteur o.n. FR units 4,256 1,641 1,293 EUR , Iliad S.A. Actions au Porteur o.n. FR units 3,055 1, EUR , Imerys S.A. Actions Port. EO 2 FR units 6,128 2,046 1,919 EUR , Immofinanz AG Inhaber-Aktien o.n. AT units 195,260 74,800 60,814 EUR , Imtech N.V. Aandelen op naam EO -.80 NL units 15,370 7,591 5,715 EUR , Indra Sistemas S.A. Acciones Port. EO 0.20 ES units 16,627 5,927 10,091 EUR , Industria de Diseño Textil SA Acciones Port. EO 0.15 ES units 39,645 13,265 12,444 EUR ,400, Infineon Technologies AG Namens-Aktien o.n. DE units 202, , ,420 EUR ,552, ING Groep N.V. Cert.v.Aandelen EO 0.24 NL units 722, , ,784 EUR ,427,

25 Intesa Sanpaolo S.p.A. Azioni nom. EO 0.52 IT units 1,997, , ,660 EUR ,477, JCDecaux S.A. Actions au Porteur o.n. FR units 9,783 3,271 3,068 EUR , Jerónimo Martins, SGPS, S.A. Acções Port. EO 5 PTJMT0AE0001 units 40,130 13,428 12,597 EUR , K+S Aktiengesellschaft Inhaber-Aktien o.n. DE units 26,738 8,947 8,393 EUR ,460, Kabel Deutschland Holding AG Inhaber-Aktien o.n. DE000KD88880 units 13,128 13, EUR , KBC Groep N.V. Parts Sociales Nom. o.n. BE units 26,558 8,966 9,216 EUR , Kemira Oy Registered Shares o.n. FI units 19,038 6,515 6,553 EUR , Kerry Group PLC Registered Shares A EO IE units 24,893 8,328 7,813 EUR , Kesko Oy Registered Shares Cl. B o.n. FI units 12,503 4,319 3,917 EUR , Klépierre S.A. Actions Port. EO 1.40 FR units 17,556 6,929 5,453 EUR , Klöckner & Co SE Namens-Aktien o.n. DE000KC01000 units 11,783 4,001 4,383 EUR , Kon. Boskalis Westminster N.V. Cert.v.Aandelen EO -.80 NL units 12,750 4,496 3,944 EUR , Kon. KPN N.V. Aandelen aan toonder EO -.24 NL units 285,800 99, ,989 EUR ,062, Kon. Philips Electronics N.V. Aandelen aan toonder EO 0.20 NL units 184,408 64,099 57,778 EUR ,691, KONE Corp. (New) Registered Shares Cl.B EO 0.5 FI units 35,840 12,531 11,220 EUR ,515, Konecranes Oyj Registered Shares o.n. FI units 10,407 3,569 4,488 EUR , Koninklijke DSM N.V. Aandelen op naam EO 1.50 NL units 31,132 11,351 13,445 EUR ,449, Koninklijke Vopak N.V. Aandelen aan toonder EO -.50 NL units 11,081 9,061 3,582 EUR , Lafarge S.A. Actions au Porteur EO 4 FR units 34,732 11,621 10,902 EUR ,659, Lagardère S.C.A. Actions Nom. EO 0.50 FR units 22,020 7,365 6,908 EUR , LANXESS AG bearer shares o.n. DE units 15,560 5,204 4,881 EUR , Legrand S.A. Actions au Port. EO 4 FR units 38,697 23,762 9,196 EUR ,193, Linde AG Inhaber-Aktien o.n. DE units 31,848 10,850 9,806 EUR ,872, Luxottica Group S.p.A. Azioni nom. EO 0.50 IT units 27,856 9,319 8,742 EUR , LVMH Moët Henn. L. Vuitton SA Actions Port. (C.R.) EO 0.3 FR units 48,176 16,121 15,123 EUR ,841, M6 Métropole Télévision S.A. Actions Port.EO 0.4 FR units 10,696 3,574 3,352 EUR , MAN SE Inhaber- Stammaktien o.n. DE units 18,481 6,180 5,797 EUR ,738, Mapfre S.A. Acciones Nom. EO ES E34 units 125,968 47,027 49,484 EUR , Mediaset S.p.A. Azioni nom. EO 0.52 IT units 135,590 45,380 42,573 EUR , Mediobanca - Bca Cred.Fin. SpA Azioni nom. EO 0.50 IT units 89,741 31,950 28,073 EUR , Merck KGaA Inhaber-Aktien o.n. DE units 12,085 4,042 3,791 EUR , METRO AG Stammaktien o.n. DE units 23,869 7,986 7,491 EUR ,182, Metso Corp. Registered Shares o.n. FI units 24,996 8,362 7,844 EUR ,034, Mobistar S.A. Actions Nom. o.n. BE units 5,285 1,765 1,655 EUR , MTU Aero Engines Holding AG Namens-Aktien o.n. DE000A0D9PT0 units 9,194 3,071 2,880 EUR , Münchener Rückvers.-Ges. AG vink.namens-aktien o.n. DE units 31,637 10,965 13,636 EUR ,525,