<SEC-DOCUMENT>0001752724-20-167471.txt : 20200824
<SEC-HEADER>0001752724-20-167471.hdr.sgml : 20200824
<ACCEPTANCE-DATETIME>20200824164225
ACCESSION NUMBER:		0001752724-20-167471
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200630
FILED AS OF DATE:		20200824
PERIOD START:           	20201231

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NEW GERMANY FUND INC
		CENTRAL INDEX KEY:			0000858706
		IRS NUMBER:				133555471
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05983
		FILM NUMBER:		201128324

	BUSINESS ADDRESS:	
		STREET 1:		875 THIRD AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022-6225
		BUSINESS PHONE:		212-454-4500

	MAIL ADDRESS:	
		STREET 1:		875 THIRD AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022-6225

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LENOX FUND INC
		DATE OF NAME CHANGE:	19900115
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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      <repPdEnd>2020-12-31</repPdEnd>
      <repPdDate>2020-06-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VOSSLOH AG /EUR/</name>
        <lei>5299003HAEOUVX3HWX43</lei>
        <title>VOSSLOH AG /EUR/ 0.00000000</title>
        <cusip>D9494V101</cusip>
        <identifiers>
          <isin value="DE0007667107"/>
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        <balance>25817.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>1129559.20000000</valUSD>
        <pctVal>0.401858385508</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SECUNET SECURITY NETWORK /EUR/</name>
        <lei>N/A</lei>
        <title>SECUNET SECURITY NETWORKS AG /EUR/ 0.00000000</title>
        <cusip>D69074108</cusip>
        <identifiers>
          <isin value="DE0007276503"/>
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        <balance>726.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>167996.25000000</valUSD>
        <pctVal>0.059767298426</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>STEICO SE /EUR/</name>
        <lei>5299007UCGLCBLO3OE49</lei>
        <title>STEICO SE /EUR/ 0.00000000</title>
        <cusip>D7632P119</cusip>
        <identifiers>
          <isin value="DE000A0LR936"/>
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        <balance>27374.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>1030098.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNIPER SE /EUR/</name>
        <lei>N/A</lei>
        <title>UNIPER SE /EUR/ 0.00000000</title>
        <cusip>D8530Z100</cusip>
        <identifiers>
          <isin value="DE000UNSE018"/>
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        <balance>77416.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>2495791.97000000</valUSD>
        <pctVal>0.887917102201</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>LEG IMMOBILIEN AG /EUR/</name>
        <lei>391200SO40AKONBO0Z96</lei>
        <title>LEG IMMOBILIEN AG /EUR/ 0.00000000</title>
        <cusip>D4960A103</cusip>
        <identifiers>
          <isin value="DE000LEG1110"/>
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        <balance>101926.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>12937762.77000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIEMENS HEALTHINEERS AG /EUR/</name>
        <lei>N/A</lei>
        <title>SIEMENS HEALTHINEERS AG /EUR/ 144A 0.00000000</title>
        <cusip>D6T479107</cusip>
        <identifiers>
          <isin value="DE000SHL1006"/>
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        <balance>126771.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>6073439.51000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LANXESS AG /EUR/</name>
        <lei>N/A</lei>
        <title>LANXESS AG /EUR/ 0.00000000</title>
        <cusip>D5032B102</cusip>
        <identifiers>
          <isin value="DE0005470405"/>
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        <balance>59215.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>3123601.20000000</valUSD>
        <pctVal>1.111270073497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JOST WERKE AG /EUR/</name>
        <lei>N/A</lei>
        <title>JOST WERKE AG /EUR/ 144A 0.00000000</title>
        <cusip>D3S57J100</cusip>
        <identifiers>
          <isin value="DE000JST4000"/>
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        <balance>89626.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>3025340.42000000</valUSD>
        <pctVal>1.076312261273</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HELLA GMBH &amp; CO KGAA /EUR/</name>
        <lei>529900PLX4ADJFWIY024</lei>
        <title>HELLA GMBH &amp; CO KGAA /EUR/ 0.00000000</title>
        <cusip>D3R112160</cusip>
        <identifiers>
          <isin value="DE000A13SX22"/>
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        <balance>146278.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>5981032.42000000</valUSD>
        <pctVal>2.127846005746</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DWS</name>
        <lei>N/A</lei>
        <title>DWS CENTRAL CASH MANAGEMENT GOVERNMENT FUND 0.00000000</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="495583"/>
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        <balance>66669.24000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>66668.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FLATEX AG /EUR/</name>
        <lei>N/A</lei>
        <title>FLATEX AG /EUR/ 0.00000000</title>
        <cusip>D3763G127</cusip>
        <identifiers>
          <isin value="DE000FTG1111"/>
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        <balance>37680.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>1925830.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TAG IMMOBILIEN AG /EUR/</name>
        <lei>529900TAE68USJNXLR59</lei>
        <title>TAG IMMOBILIEN AG /EUR/ 0.00000000</title>
        <cusip>D8283Q174</cusip>
        <identifiers>
          <isin value="DE0008303504"/>
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        <balance>27997.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>EVONIK INDUSTRIES AG /EUR/</name>
        <lei>N/A</lei>
        <title>EVONIK INDUSTRIES AG /EUR/ 0.00000000</title>
        <cusip>D2R90Y117</cusip>
        <identifiers>
          <isin value="DE000EVNK013"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW WORK SE /EUR/</name>
        <lei>N/A</lei>
        <title>NEW WORK SE /EUR/ 0.00000000</title>
        <cusip>D5S1L6106</cusip>
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          <isin value="DE000NWRK013"/>
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        <assetCat>EC</assetCat>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DIALOG SEMICONDUCTOR PLC /EUR/</name>
        <lei>N/A</lei>
        <title>DIALOG SEMICONDUCTOR PLC /EUR/ 0.00000000</title>
        <cusip>G5821P111</cusip>
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          <isin value="GB0059822006"/>
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      <invstOrSec>
        <name>TEAMVIEWER AG /EUR/</name>
        <lei>N/A</lei>
        <title>TEAMVIEWER AG /EUR/ 0.00000000</title>
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          <isin value="DE000A2YN900"/>
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      <invstOrSec>
        <name>SCOUT24 AG /EUR/</name>
        <lei>5493007EIKM2ENQS7U66</lei>
        <title>SCOUT24 AG /EUR/ 144A 0.00000000</title>
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      <invstOrSec>
        <name>INSTONE REAL ESTATE GROU /EUR/</name>
        <lei>N/A</lei>
        <title>INSTONE REAL ESTATE GROUP AG /EUR/ 144A 0.00000000</title>
        <cusip>D3706C100</cusip>
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          <isin value="DE000A2NBX80"/>
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      <invstOrSec>
        <name>TLG IMMOBILIEN AG /EUR/</name>
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      <invstOrSec>
        <name>SYMRISE AG /EUR/</name>
        <lei>N/A</lei>
        <title>SYMRISE AG /EUR/ 0.00000000</title>
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      <invstOrSec>
        <name>PATRIZIA AG /EUR/</name>
        <lei>N/A</lei>
        <title>PATRIZIA AG /EUR/ 0.00000000</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>PUMA SE /EUR/</name>
        <lei>N/A</lei>
        <title>PUMA SE /EUR/ 0.00000000</title>
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          <isin value="DE0006969603"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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      </invstOrSec>
      <invstOrSec>
        <name>FIELMANN AG /EUR/</name>
        <lei>N/A</lei>
        <title>FIELMANN AG /EUR/ 0.00000000</title>
        <cusip>D2617N114</cusip>
        <identifiers>
          <isin value="DE0005772206"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>AMADEUS FIRE AG /EUR/</name>
        <lei>N/A</lei>
        <title>AMADEUS FIRE AG /EUR/ 0.00000000</title>
        <cusip>D0349N105</cusip>
        <identifiers>
          <isin value="DE0005093108"/>
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        <balance>3233.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>400931.83000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EVOTEC SE /EUR/</name>
        <lei>529900F9KI6OYITO9B12</lei>
        <title>EVOTEC SE /EUR/ 0.00000000</title>
        <cusip>D1646D105</cusip>
        <identifiers>
          <isin value="DE0005664809"/>
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        <balance>122525.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>3330702.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE PFANDBRIEFBANK  /EUR/</name>
        <lei>N/A</lei>
        <title>DEUTSCHE PFANDBRIEFBANK AG /EUR/ 144A 0.00000000</title>
        <cusip>D1R83Y100</cusip>
        <identifiers>
          <isin value="DE0008019001"/>
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        <balance>34202.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>249724.19000000</valUSD>
        <pctVal>0.088843293751</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SAF-HOLLAND SE /EUR/</name>
        <lei>222100QJQLUJHWREL058</lei>
        <title>SAF-HOLLAND SE /EUR/ 0.00000000</title>
        <cusip>L7999A102</cusip>
        <identifiers>
          <isin value="LU0307018795"/>
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        <balance>521533.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>3072720.41000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>THYSSENKRUPP AG /EUR/</name>
        <lei>549300UDG16DOYUPR330</lei>
        <title>THYSSENKRUPP AG /EUR/ 0.00000000</title>
        <cusip>D8398Q119</cusip>
        <identifiers>
          <isin value="DE0007500001"/>
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        <balance>1206228.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>8555191.63000000</valUSD>
        <pctVal>3.043643481586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>WACKER CHEMIE AG /EUR/</name>
        <lei>N/A</lei>
        <title>WACKER CHEMIE AG /EUR/ 0.00000000</title>
        <cusip>D9540Z106</cusip>
        <identifiers>
          <isin value="DE000WCH8881"/>
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        <balance>16553.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>1134976.84000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TELEFONICA DEUTSCHLAND H /EUR/</name>
        <lei>N/A</lei>
        <title>TELEFONICA DEUTSCHLAND HOLDI /EUR/ 0.00000000</title>
        <cusip>D8T9CK101</cusip>
        <identifiers>
          <isin value="DE000A1J5RX9"/>
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        <balance>275269.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>812293.79000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>JUNGHEINRICH - PRFD /EUR/</name>
        <lei>N/A</lei>
        <title>JUNGHEINRICH - PRFD /EUR/ 0.00000000</title>
        <cusip>D37552102</cusip>
        <identifiers>
          <isin value="DE0006219934"/>
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        <balance>51373.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>1198003.36000000</valUSD>
        <pctVal>0.426208467943</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BRENNTAG AG /EUR/</name>
        <lei>N/A</lei>
        <title>BRENNTAG AG /EUR/ 0.00000000</title>
        <cusip>D12459117</cusip>
        <identifiers>
          <isin value="DE000A1DAHH0"/>
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        <balance>174732.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>9179849.83000000</valUSD>
        <pctVal>3.265875424584</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BECHTLE AG /EUR/</name>
        <lei>N/A</lei>
        <title>BECHTLE AG /EUR/ 0.00000000</title>
        <cusip>D0873U103</cusip>
        <identifiers>
          <isin value="DE0005158703"/>
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        <balance>21641.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>3816565.64000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SARTORIUS STEDIM BIOTECH /EUR/</name>
        <lei>N/A</lei>
        <title>SARTORIUS STEDIM BIOTECH /EUR/ 0.00000000</title>
        <cusip>F8005V210</cusip>
        <identifiers>
          <isin value="FR0013154002"/>
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        <balance>5467.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>1381743.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PROSIEBENSAT.1 MEDIA SE /EUR/</name>
        <lei>N/A</lei>
        <title>PROSIEBENSAT.1 MEDIA SE /EUR/ 0.00000000</title>
        <cusip>D6216S143</cusip>
        <identifiers>
          <isin value="DE000PSM7770"/>
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        <balance>235363.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SARTORIUS AG-VORZUG /EUR/</name>
        <lei>N/A</lei>
        <title>SARTORIUS AG-VORZUG /EUR/ 0.00000000</title>
        <cusip>D6705R119</cusip>
        <identifiers>
          <isin value="DE0007165631"/>
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        <balance>19325.00000000</balance>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>HYPOPORT SE /EUR/</name>
        <lei>N/A</lei>
        <title>HYPOPORT SE /EUR/ 0.00000000</title>
        <cusip>D3149E101</cusip>
        <identifiers>
          <isin value="DE0005493365"/>
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        <balance>4295.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>CARL ZEISS MEDITEC AG -  /EUR/</name>
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        <title>CARL ZEISS MEDITEC AG - BR /EUR/ 0.00000000</title>
        <cusip>D14895102</cusip>
        <identifiers>
          <isin value="DE0005313704"/>
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      <invstOrSec>
        <name>KION GROUP AG /EUR/</name>
        <lei>N/A</lei>
        <title>KION GROUP AG /EUR/ 0.00000000</title>
        <cusip>D4S14D103</cusip>
        <identifiers>
          <isin value="DE000KGX8881"/>
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      <invstOrSec>
        <name>HELLOFRESH SE /EUR/</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>NORDEX SE /EUR/</name>
        <lei>N/A</lei>
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          <isin value="DE000A0D6554"/>
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      <invstOrSec>
        <name>COMPUGROUP MEDICAL SE &amp;  /EUR/</name>
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        <name>ZALANDO SE /EUR/</name>
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        <name>DEUTSCHE LUFTHANSA-REG /EUR/</name>
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      <invstOrSec>
        <name>UNITED INTERNET AG-REG S /EUR/</name>
        <lei>3VEKWPJHTD4NKMBVG947</lei>
        <title>UNITED INTERNET AG-REG SHARE /EUR/ 0.00000000</title>
        <cusip>D8542B125</cusip>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>DEUTZ AG /EUR/</name>
        <lei>N/A</lei>
        <title>DEUTZ AG /EUR/ 0.00000000</title>
        <cusip>D39176108</cusip>
        <identifiers>
          <isin value="DE0006305006"/>
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        <balance>730895.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>3435124.06000000</valUSD>
        <pctVal>1.222099212482</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CORESTATE CAPITAL HOLDIN /EUR/</name>
        <lei>N/A</lei>
        <title>CORESTATE CAPITAL HOLDING S. /EUR/ 0.00000000</title>
        <cusip>L1994V104</cusip>
        <identifiers>
          <isin value="LU1296758029"/>
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        <balance>172321.00000000</balance>
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        <valUSD>3476484.50000000</valUSD>
        <pctVal>1.236813837127</pctVal>
        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
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        <name>MORPHOSYS AG /EUR/</name>
        <lei>N/A</lei>
        <title>MORPHOSYS AG /EUR/ 0.00000000</title>
        <cusip>D55040105</cusip>
        <identifiers>
          <isin value="DE0006632003"/>
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        <balance>24464.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KWS SAAT SE AND CO KGAA /EUR/</name>
        <lei>529900FR2K4P9L9XLV21</lei>
        <title>KWS SAAT SE AND CO KGAA /EUR/ 0.00000000</title>
        <cusip>D39062100</cusip>
        <identifiers>
          <isin value="DE0007074007"/>
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        <balance>96249.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
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        <pctVal>2.565558113934</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DELIVERY HERO SE /EUR/</name>
        <lei>529900C3EX1FZGE48X78</lei>
        <title>DELIVERY HERO SE /EUR/ 0.00000000</title>
        <cusip>D1T0KZ103</cusip>
        <identifiers>
          <isin value="DE000A2E4K43"/>
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        <balance>182292.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
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        <pctVal>6.626403202181</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FRAPORT AG FRANKFURT AIR /EUR/</name>
        <lei>5299001ERX0K10IZUL40</lei>
        <title>FRAPORT AG FRANKFURT AIRPORT /EUR/ 0.00000000</title>
        <cusip>D3856U108</cusip>
        <identifiers>
          <isin value="DE0005773303"/>
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        <balance>67502.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
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        <pctVal>1.047205630965</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DERMAPHARM HOLDING SE /EUR/</name>
        <lei>N/A</lei>
        <title>DERMAPHARM HOLDING SE /EUR/ 0.00000000</title>
        <cusip>D1T0ZJ103</cusip>
        <identifiers>
          <isin value="DE000A2GS5D8"/>
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        <balance>41744.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>2076569.49000000</valUSD>
        <pctVal>0.738772135756</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>PFEIFFER VACUUM TECHNOLO /EUR/</name>
        <lei>8945004AW6QK8JHNQP69</lei>
        <title>PFEIFFER VACUUM TECHNOLOGY /EUR/ 0.00000000</title>
        <cusip>D6058X101</cusip>
        <identifiers>
          <isin value="DE0006916604"/>
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        <balance>4519.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HANNOVER RUECKVERSICHERU SE /EUR/</name>
        <lei>N/A</lei>
        <title>HANNOVER RUECKVERSICHERU SE /EUR/ 0.00000000</title>
        <cusip>D3015J135</cusip>
        <identifiers>
          <isin value="DE0008402215"/>
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        <balance>15415.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>2656223.70000000</valUSD>
        <pctVal>0.944993204102</pctVal>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HAMBURGER HAFEN UND LOGI /EUR/</name>
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        <cusip>D3211S103</cusip>
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          <isin value="DE000A0S8488"/>
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        <balance>60746.00000000</balance>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AIRBUS SE /EUR/</name>
        <lei>N/A</lei>
        <title>AIRBUS SE /EUR/ 0.00000000</title>
        <cusip>N0280G100</cusip>
        <identifiers>
          <isin value="NL0000235190"/>
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        <balance>232055.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>16557592.07000000</valUSD>
        <pctVal>5.890622835134</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TALANX AG /EUR/</name>
        <lei>N/A</lei>
        <title>TALANX AG /EUR/ 0.00000000</title>
        <cusip>D82827110</cusip>
        <identifiers>
          <isin value="DE000TLX1005"/>
        </identifiers>
        <balance>58809.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
        <valUSD>2185269.75000000</valUSD>
        <pctVal>0.777443956576</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COMMERZBANK AG /EUR/</name>
        <lei>851WYGNLUQLFZBSYGB56</lei>
        <title>COMMERZBANK AG /EUR/ 0.00000000</title>
        <cusip>D172W1279</cusip>
        <identifiers>
          <isin value="DE000CBK1001"/>
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        <balance>401788.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89023413"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DWS</name>
        <lei>N/A</lei>
        <title>DWS Gov&amp;Agency Sec Portfolio DWS Gov Cash Inst Shs</title>
        <cusip>147539670</cusip>
        <identifiers>
          <isin value="US1475396701"/>
        </identifiers>
        <balance>21964081.80000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21964081.80000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="21964081.80000000" isCashCollateral="Y"/>
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        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>New Germany Fund Inc</ncom:nameOfApplicant>
      <ncom:signature>Diane Kenneally </ncom:signature>
      <ncom:signerName>Diane Kenneally </ncom:signerName>
      <ncom:title>Treasurer and Chief Financial Officer </ncom:title>
    </signature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
