<SEC-DOCUMENT>0001752724-21-189028.txt : 20210827
<SEC-HEADER>0001752724-21-189028.hdr.sgml : 20210827
<ACCEPTANCE-DATETIME>20210827123437
ACCESSION NUMBER:		0001752724-21-189028
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210630
FILED AS OF DATE:		20210827
PERIOD START:           	20211231

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:		211216492

	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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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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      </invstOrSec>
      <invstOrSec>
        <name>K+S AG-REG /EUR/</name>
        <lei>529900YURAYD4IJX2J91</lei>
        <title>K+S AG-REG /EUR/ 0.00000000</title>
        <cusip>D48164129</cusip>
        <identifiers>
          <isin value="DE000KSAG888"/>
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        <balance>141893.00000000</balance>
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      </invstOrSec>
      <invstOrSec>
        <name>AMADEUS FIRE AG /EUR/</name>
        <lei>391200TJJ820ZDHNFJ33</lei>
        <title>AMADEUS FIRE AG /EUR/ 0.00000000</title>
        <cusip>D0349N105</cusip>
        <identifiers>
          <isin value="DE0005093108"/>
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        <balance>3336.00000000</balance>
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      <invstOrSec>
        <name>NORDEX SE /EUR/</name>
        <lei>529900HVDYCUWVD0OE76</lei>
        <title>NORDEX SE /EUR/ 0.00000000</title>
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          <isin value="DE000A0D6554"/>
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        <assetCat>EC</assetCat>
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      <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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        <assetCat>EC</assetCat>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PROSIEBENSAT.1 MEDIA SE /EUR/</name>
        <lei>529900NY0WWQUKOMWQ37</lei>
        <title>PROSIEBENSAT.1 MEDIA SE /EUR/ 0.00000000</title>
        <cusip>D6216S143</cusip>
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          <isin value="DE000PSM7770"/>
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        <balance>186672.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
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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>GEA GROUP AG /EUR/</name>
        <lei>549300PHUU0ZZWO8EO07</lei>
        <title>GEA GROUP AG /EUR/ 0.00000000</title>
        <cusip>D28304109</cusip>
        <identifiers>
          <isin value="DE0006602006"/>
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        <balance>100204.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VERBIO VEREINIGTE BIOENE /EUR/</name>
        <lei>529900W51PINCFFALS96</lei>
        <title>VERBIO VEREINIGTE BIOENERGI /EUR/ 0.00000000</title>
        <cusip>D86145105</cusip>
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          <isin value="DE000A0JL9W6"/>
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        <invCountry>DE</invCountry>
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      <invstOrSec>
        <name>TEAMVIEWER AG /EUR/</name>
        <lei>N/A</lei>
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        <cusip>D8T895100</cusip>
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          <isin value="DE000A2YN900"/>
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      <invstOrSec>
        <name>DEUTSCHE PFANDBRIEFBANK  /EUR/</name>
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        <title>DEUTSCHE PFANDBRIEFBANK AG /EUR/ 144A 0.00000000</title>
        <cusip>D1R83Y100</cusip>
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      <invstOrSec>
        <name>HAMBURGER HAFEN UND LOGI /EUR/</name>
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      <invstOrSec>
        <name>SAF-HOLLAND SE /EUR/</name>
        <lei>222100QJQLUJHWREL058</lei>
        <title>SAF-HOLLAND SE /EUR/ 0.00000000</title>
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          <isin value="DE000SAFH001"/>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>CANCOM SE /EUR/</name>
        <lei>391200T4AUN1BPBXAO14</lei>
        <title>CANCOM SE /EUR/ 0.00000000</title>
        <cusip>D8238N102</cusip>
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          <isin value="DE0005419105"/>
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        <name>BRENNTAG SE /EUR/</name>
        <lei>NNROIXVWJ7CPSR27SV97</lei>
        <title>BRENNTAG SE /EUR/ 0.00000000</title>
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        <name>PFEIFFER VACUUM TECHNOLO /EUR/</name>
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        <title>PFEIFFER VACUUM TECHNOLOGY /EUR/ 0.00000000</title>
        <cusip>D6058X101</cusip>
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        <name>ZALANDO SE /EUR/</name>
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        <name>AROUNDTOWN SA /EUR/</name>
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        <name>LEG IMMOBILIEN SE /EUR/</name>
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        <name>TAG IMMOBILIEN AG /EUR/</name>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BEFESA SA /EUR/</name>
        <lei>222100VXGA8L6J4ZWG61</lei>
        <title>BEFESA SA /EUR/ 144A 0.00000000</title>
        <cusip>L0R30V103</cusip>
        <identifiers>
          <isin value="LU1704650164"/>
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        <balance>139301.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
        <valUSD>10702963.88000000</valUSD>
        <pctVal>2.985109946893</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AUTO1 GROUP SE /EUR/</name>
        <lei>391200S2LPXG5ZD5G304</lei>
        <title>AUTO1 GROUP SE /EUR/ 144A 0.00000000</title>
        <cusip>D0R06D102</cusip>
        <identifiers>
          <isin value="DE000A2LQ884"/>
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        <balance>143632.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
        <valUSD>6309780.33000000</valUSD>
        <pctVal>1.759829168534</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PATRIZIA AG /EUR/</name>
        <lei>N/A</lei>
        <title>PATRIZIA AG /EUR/ 0.00000000</title>
        <cusip>D5988D110</cusip>
        <identifiers>
          <isin value="DE000PAT1AG3"/>
        </identifiers>
        <balance>62004.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
        <valUSD>1617399.14000000</valUSD>
        <pctVal>0.451100677816</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INSTONE REAL ESTATE GROU /EUR/</name>
        <lei>391200DINUIRPDZQHX03</lei>
        <title>INSTONE REAL ESTATE GROUP AG /EUR/ 144A 0.00000000</title>
        <cusip>D3706C100</cusip>
        <identifiers>
          <isin value="DE000A2NBX80"/>
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        <balance>315139.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
        <valUSD>9490971.93000000</valUSD>
        <pctVal>2.647079354053</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>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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        <balance>92578.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
        <valUSD>7239314.00000000</valUSD>
        <pctVal>2.019080739912</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>CHERRY AG /EUR/</name>
        <lei>N/A</lei>
        <title>CHERRY AG /EUR/ 0.00000000</title>
        <cusip>D1T3GZ102</cusip>
        <identifiers>
          <isin value="DE000A3CRRN9"/>
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        <balance>144736.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
        <valUSD>5422985.82000000</valUSD>
        <pctVal>1.512497761801</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>KNORR-BREMSE AG /EUR/</name>
        <lei>N/A</lei>
        <title>KNORR-BREMSE AG /EUR/ 0.00000000</title>
        <cusip>D4S43E114</cusip>
        <identifiers>
          <isin value="DE000KBX1006"/>
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        <balance>22216.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
        <valUSD>2555126.59000000</valUSD>
        <pctVal>0.712637535256</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>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>149671.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
        <valUSD>1061595.06000000</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SHOP APOTHEKE EUROPE NV /EUR/</name>
        <lei>529900JK6UXHY1YKZ082</lei>
        <title>SHOP APOTHEKE EUROPE NV /EUR/ 144A 0.00000000</title>
        <cusip>N7975Z103</cusip>
        <identifiers>
          <isin value="NL0012044747"/>
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        <balance>11485.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
        <valUSD>2157053.90000000</valUSD>
        <pctVal>0.601613078869</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <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>60709.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
        <valUSD>4995596.69000000</valUSD>
        <pctVal>1.393296804247</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>MORPHOSYS AG /EUR/</name>
        <lei>529900493806K77LRE72</lei>
        <title>MORPHOSYS AG /EUR/ 0.00000000</title>
        <cusip>D55040105</cusip>
        <identifiers>
          <isin value="DE0006632003"/>
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        <balance>20715.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
        <valUSD>1606831.35000000</valUSD>
        <pctVal>0.448153268537</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>KRONES AG /EUR/</name>
        <lei>N/A</lei>
        <title>KRONES AG /EUR/ 0.00000000</title>
        <cusip>D47441171</cusip>
        <identifiers>
          <isin value="DE0006335003"/>
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        <balance>12690.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
        <valUSD>1133756.26000000</valUSD>
        <pctVal>0.316210269138</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PORSCHE AUTOMOBIL HLDG-P /EUR/</name>
        <lei>52990053Z17ZYM1KFV27</lei>
        <title>PORSCHE AUTOMOBIL HLDG-PRF /EUR/ 0.00000000</title>
        <cusip>D6240C122</cusip>
        <identifiers>
          <isin value="DE000PAH0038"/>
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        <balance>103652.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
        <valUSD>11105259.94000000</valUSD>
        <pctVal>3.097312322213</pctVal>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <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>99507.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
        <valUSD>4510583.75000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HENSOLDT AG /EUR/</name>
        <lei>894500686FYLLZD3M624</lei>
        <title>HENSOLDT AG /EUR/ 0.00000000</title>
        <cusip>D3R14P109</cusip>
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          <isin value="DE000HAG0005"/>
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        <balance>216980.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
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      <invstOrSec>
        <name>HYPOPORT SE /EUR/</name>
        <lei>391200GNIFXXP6KRYQ46</lei>
        <title>HYPOPORT SE /EUR/ 0.00000000</title>
        <cusip>D3149E101</cusip>
        <identifiers>
          <isin value="DE0005493365"/>
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        <balance>7268.00000000</balance>
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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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          <isin value="DE0005089031"/>
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      <invstOrSec>
        <name>THYSSENKRUPP AG /EUR/</name>
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        <title>THYSSENKRUPP AG /EUR/ 0.00000000</title>
        <cusip>D8398Q119</cusip>
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      <invstOrSec>
        <name>SCOUT24 AG /EUR/</name>
        <lei>5493007EIKM2ENQS7U66</lei>
        <title>SCOUT24 AG /EUR/ 144A 0.00000000</title>
        <cusip>D345XT105</cusip>
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      <invstOrSec>
        <name>NEW WORK SE /EUR/</name>
        <lei>N/A</lei>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>KION GROUP AG /EUR/</name>
        <lei>5299005KY91C4C6U9H17</lei>
        <title>KION GROUP AG /EUR/ 0.00000000</title>
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        <name>ALSTOM /EUR/</name>
        <lei>96950032TUYMW11FB530</lei>
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        <name>JUNGHEINRICH - PRFD /EUR/</name>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FLATEXDEGIRO AG /EUR/</name>
        <lei>529900IRBZTADXJB6757</lei>
        <title>FLATEXDEGIRO AG /EUR/ 0.00000000</title>
        <cusip>D3763G127</cusip>
        <identifiers>
          <isin value="DE000FTG1111"/>
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        <balance>31094.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
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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>GLOBAL FASHION GROUP SA /EUR/</name>
        <lei>5493001035L29EQRO222</lei>
        <title>GLOBAL FASHION GROUP SA /EUR/ 0.00000000</title>
        <cusip>L4379H104</cusip>
        <identifiers>
          <isin value="LU2010095458"/>
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        <balance>109470.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</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>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>22899.00000000</balance>
        <units>NS</units>
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        <pctVal>0.322216052831</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <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>129000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </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>765.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
        <valUSD>340147.69000000</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>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>102064.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
        <valUSD>6087169.43000000</valUSD>
        <pctVal>1.697741879506</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>TALANX AG /EUR/</name>
        <lei>N/A</lei>
        <title>TALANX AG /EUR/ 0.00000000</title>
        <cusip>D82827110</cusip>
        <identifiers>
          <isin value="DE000TLX1005"/>
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        <balance>49800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
        <valUSD>2035970.21000000</valUSD>
        <pctVal>0.567842234505</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>SYMRISE AG /EUR/</name>
        <lei>529900D82I6R9601CF26</lei>
        <title>SYMRISE AG /EUR/ 0.00000000</title>
        <cusip>D827A1108</cusip>
        <identifiers>
          <isin value="DE000SYM9999"/>
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        <balance>52160.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
        <valUSD>7266918.16000000</valUSD>
        <pctVal>2.026779677656</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RTL GROUP /EUR/</name>
        <lei>N/A</lei>
        <title>RTL GROUP /EUR/ 0.00000000</title>
        <cusip>L80326108</cusip>
        <identifiers>
          <isin value="LU0061462528"/>
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        <balance>30818.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>LU</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SARTORIUS AG-VORZUG /EUR/</name>
        <lei>529900EQV2DY4FOAMU38</lei>
        <title>SARTORIUS AG-VORZUG /EUR/ 0.00000000</title>
        <cusip>D6705R119</cusip>
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          <isin value="DE0007165631"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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      <invstOrSec>
        <name>ABOUT YOU HOLDING AG /EUR/</name>
        <lei>894500DKEE3GY8870322</lei>
        <title>ABOUT YOU HOLDING AG /EUR/ 0.00000000</title>
        <cusip>D0R5GC102</cusip>
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          <isin value="DE000A3CNK42"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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      <invstOrSec>
        <name>AIRBUS SE /EUR/</name>
        <lei>MINO79WLOO247M1IL051</lei>
        <title>AIRBUS SE /EUR/ 0.00000000</title>
        <cusip>N0280G100</cusip>
        <identifiers>
          <isin value="NL0000235190"/>
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        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>
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      <invstOrSec>
        <name>BECHTLE AG /EUR/</name>
        <lei>529900HA2QT774RUXW59</lei>
        <title>BECHTLE AG /EUR/ 0.00000000</title>
        <cusip>D0873U103</cusip>
        <identifiers>
          <isin value="DE0005158703"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <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>41920.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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        <name>UNIPER SE /EUR/</name>
        <lei>549300UXRTWGIBZQ4J67</lei>
        <title>UNIPER SE /EUR/ 0.00000000</title>
        <cusip>D8530Z100</cusip>
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          <isin value="DE000UNSE018"/>
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        <assetCat>EC</assetCat>
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        <name>SIXT SE /EUR/</name>
        <lei>N/A</lei>
        <title>SIXT SE /EUR/ 0.00000000</title>
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        <identifiers>
          <isin value="DE0007231326"/>
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        <name>STABILUS SA /EUR/</name>
        <lei>529900JOSL94HJN4VZ28</lei>
        <title>STABILUS SA /EUR/ 0.00000000</title>
        <cusip>L8750H104</cusip>
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        <name>DWS</name>
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        <name>EVONIK INDUSTRIES AG /EUR/</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>FRIEDRICH VORWERK GROUP  /EUR/</name>
        <lei>529900NBM89YAM5ENI18</lei>
        <title>FRIEDRICH VORWERK GROUP SE /EUR/ 0.00000000</title>
        <cusip>D2R9Z3109</cusip>
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        <assetCat>EC</assetCat>
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        <name>DEUTSCHE LUFTHANSA-REG /EUR/</name>
        <lei>529900PH63HYJ86ASW55</lei>
        <title>DEUTSCHE LUFTHANSA-REG /EUR/ 0.00000000</title>
        <cusip>D1908N106</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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      <invstOrSec>
        <name>DEUTZ AG /EUR/</name>
        <lei>5299005DETTV58V2PP63</lei>
        <title>DEUTZ AG /EUR/ 0.00000000</title>
        <cusip>D39176108</cusip>
        <identifiers>
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        <balance>1171121.00000000</balance>
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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>
        <name>KNAUS TABBERT AG /EUR/</name>
        <lei>391200V57NOSGK8UVW09</lei>
        <title>KNAUS TABBERT AG /EUR/ 0.00000000</title>
        <cusip>D4S484103</cusip>
        <identifiers>
          <isin value="DE000A2YN504"/>
        </identifiers>
        <balance>68608.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
        <valUSD>5263248.31000000</valUSD>
        <pctVal>1.467946174471</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>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"/>
        </identifiers>
        <balance>82451.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84338365"/>
        <valUSD>5052347.95000000</valUSD>
        <pctVal>1.409125013389</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>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2021-07-30</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>
