# Unaudited semi-annual report as of 30 April 2020
| Table of contents | Page |  | ISIN |
| --- | --- | --- | --- |
| Management and Administration | 3 |  |  |
| Features of the Company | 5 |  |  |
| Focused SICAV | 9 |  |  |
| Focused SICAV – Corporate Bond EUR Focused SICAV – Equity Overlay Fund I CHF | 11 18 | F-acc (CHF hedged) F-acc (USD hedged) F-acc F-UKdist (GBP hedged) F-UKdist F-acc | LU0224579853 LU0581055034 LU1272229326 LU0526609044 LU0526609127 LU2099998119 |
| Focused SICAV – Equity Overlay Fund II CHF | 22 | F-acc | LU2099998382 |
| Focused SICAV – Global Bond Focused SICAV – High Grade Bond CHF | 26 40 | (USD) F-acc (CHF hedged) F-acc (EUR hedged) F-acc (GBP hedged) F-acc (JPY hedged) F-acc F-UKdist (CHF hedged) F-UKdist (EUR hedged) F-UKdist (GBP hedged) F-UKdist F-acc | LU0326808440 LU0326809257 LU0326809505 LU0326809844 LU1490620330 LU1164771658 LU1311286220 LU0526609390 LU0326810180 LU0224580604 |
| Focused SICAV – High Grade Bond EUR | 45 | F-UKdist F-acc | LU1314779882 LU0224580430 |
| Focused SICAV – High Grade Bond GBP | 51 | F-UKdist F-acc | LU0526609473 LU0270448243 |
| Focused SICAV – High Grade Bond USD | 56 | F-UKdist F-acc | LU0526609556 LU0224580786 |
| Focused SICAV – High Grade Long Term Bond CHF | 65 | (CHF hedged) F-acc (EUR hedged) F-acc (GBP hedged) F-acc (JPY hedged) F-acc (SGD hedged) F-acc F-UKdist (CHF hedged) F-UKdist (EUR hedged) F-UKdist (GBP hedged) F-UKdist F-acc | LU1339538412 LU1132652998 LU1339538503 LU1786948718 LU1344159089 LU0721134624 LU1554453867 LU1554452620 LU1554454329 LU0270449050 |
| Focused SICAV – High Grade Long Term Bond EUR | 70 | F-UKdist F-acc | LU1008480078 LU0270448839 |
| Focused SICAV – High Grade Long Term Bond GBP | 78 | (CHF hedged) F-acc (USD hedged) F-acc F-UKdist F-acc | LU1272229672 LU1272229839 LU0526609630 LU0270450223 |
| Focused SICAV – High Grade Long Term Bond USD | 83 | F-UKdist F-acc | LU0526609713 LU0270450066 |
|  |  | (CHF hedged) F-acc (EUR hedged) F-acc (GBP hedged) F-acc (JPY hedged) F-acc (SGD hedged) F-acc F-UKdist (CHF hedged) F-UKdist (EUR hedged) F-UKdist (GBP hedged) F-UKdist | LU1140787604 LU1140787190 LU1339538339 LU1786951779 LU1002056536 LU0723399837 LU1140787786 LU1140787356 LU1545517606 |
| Focused SICAV – US Corporate Bond Sustainable USD 91 Focused SICAV – US Treasury Bond USD	100 | F-acc (CHF hedged) F-acc (EUR hedged) F-acc (GBP hedged) F-acc (CHF hedged) F-UKdist F-acc (CHF hedged) F-acc (EUR hedged) F-acc | LU1484152423 LU1484152696 LU1484153157 LU1865229824 LU1490621650 LU1936847935 LU1936848156 LU1936848230 |

| Focused SICAV – World Bank Bond USD Focused SICAV – World Bank Long Term Bond USD | 105 110 | F-acc (CHF hedged) F-acc (EUR hedged) F-acc (GBP hedged) F-acc (CHF hedged) F-dist F-acc | LU1739534615 LU1739534888 LU1739534706 LU1786990751 LU1739534961 LU1739535000 |
| --- | --- | --- | --- |
|  |  | (CHF hedged) F-acc (EUR hedged) F-acc (GBP hedged) F-acc (CHF hedged) F-dist | LU1739535265 LU1739535182 LU1786992294 LU1739535349 |
| Notes to the Financial Statements | 115 |  |  |
| Appendix | 123 |  |  |


## Sales restrictions
Shares of this Company may not be offered, sold or distributed within the United States of America.

## Sale in Germany:
Shares of the following subfunds have not been authorized for public distribution to investors
in Germany:
Focused SICAV
- High Grade Bond GBP
- High Grade Long Term Bond GBP


## Internet address
http://www.ubs.com/funds

Translation (ENDE, 2020-04-30):
# Ungeprüfler Halbjahresbericht per 30. April 2020
| Inhaltsverzeichnis | Seite |  | ISIN |
| --- | --- | --- | --- |
| Management und Verwaltung | 3 |  |  |
| Charakteristik der Gesellschaft | 5 |  |  |
| Focused SICAV | 9 |  |  |
| Focused SICAV – Corporate Bond EUR Focused SICAV – Equity Overlay Fund I CHF | 11 18 | F-acc (CHF hedged) F-acc (USD hedged) F-acc F-UKdist (GBP hedged) F-UKdist F-acc | LU0224579853 LU0581055034 LU1272229326 LU0526609044 LU0526609127 LU2099998119 |
| Focused SICAV – Equity Overlay Fund II CHF | 22 | F-acc | LU2099998382 |
| Focused SICAV – Global Bond Focused SICAV – High Grade Bond CHF | 26 40 | (USD) F-acc (CHF hedged) F-acc (EUR hedged) F-acc (GBP hedged) F-acc (JPY hedged) F-acc F-UKdist (CHF hedged) F-UKdist (EUR hedged) F-UKdist (GBP hedged) F-UKdist F-acc | LU0326808440 LU0326809257 LU0326809505 LU0326809844 LU1490620330 LU1164771658 LU1311286220 LU0526609390 LU0326810180 LU0224580604 |
| Focused SICAV – High Grade Bond EUR | 45 | F-UKdist F-acc | LU1314779882 LU0224580430 |
| Focused SICAV – High Grade Bond GBP | 51 | F-UKdist F-acc | LU0526609473 LU0270448243 |
| Focused SICAV – High Grade Bond USD | 56 | F-UKdist F-acc | LU0526609556 LU0224580786 |
| Focused SICAV – High Grade Long Term Bond CHF | 65 | (CHF hedged) F-acc (EUR hedged) F-acc (GBP hedged) F-acc (JPY hedged) F-acc (SGD hedged) F-acc F-UKdist (CHF hedged) F-UKdist (EUR hedged) F-UKdist (GBP hedged) F-UKdist F-acc | LU1339538412 LU1132652998 LU1339538503 LU1786948718 LU1344159089 LU0721134624 LU1554453867 LU1554452620 LU1554454329 LU0270449050 |
| Focused SICAV – High Grade Long Term Bond EUR | 70 | F-UKdist F-acc | LU1008480078 LU0270448839 |
| Focused SICAV – High Grade Long Term Bond GBP | 78 | (CHF hedged) F-acc (USD hedged) F-acc F-UKdist F-acc | LU1272229672 LU1272229839 LU0526609630 LU0270450223 |
| Focused SICAV – High Grade Long Term Bond USD | 83 | F-UKdist F-acc | LU0526609713 LU0270450066 |
|  |  | (CHF hedged) F-acc (EUR hedged) F-acc (GBP hedged) F-acc (JPY hedged) F-acc (SGD hedged) F-acc F-UKdist (CHF hedged) F-UKdist (EUR hedged) F-UKdist (GBP hedged) F-UKdist | LU1140787604 LU1140787190 LU1339538339 LU1786951779 LU1002056536 LU0723399837 LU1140787786 LU1140787356 LU1545517606 |
| Focused SICAV – US Corporate Bond Sustainable USD 91 Focused SICAV – US Treasury Bond USD	100 | F-acc (CHF hedged) F-acc (EUR hedged) F-acc (GBP hedged) F-acc (CHF hedged) F-UKdist F-acc (CHF hedged) F-acc (EUR hedged) F-acc | LU1484152423 LU1484152696 LU1484153157 LU1865229824 LU1490621650 LU1936847935 LU1936848156 LU1936848230 |

| Focused SICAV – World Bank Bond USD Focused SICAV – World Bank Long Term Bond USD | 105 110 | F-acc (CHF hedged) F-acc (EUR hedged) F-acc (GBP hedged) F-acc (CHF hedged) F-dist F-acc | LU1739534615 LU1739534888 LU1739534706 LU1786990751 LU1739534961 LU1739535000 |
| --- | --- | --- | --- |
|  |  | (CHF hedged) F-acc (EUR hedged) F-acc (GBP hedged) F-acc (CHF hedged) F-dist | LU1739535265 LU1739535182 LU1786992294 LU1739535349 |
| Erläuterungen zum Halbjahresbericht (Anhang) | 115 |  |  |
| Weitere Angaben | 124 |  |  |


## Verkaufsrestriktionen
Innerhalb der USA dürfen Aktien dieser Gesellschaft weder angeboten noch verkauft oder ausgeliefert werden.

## Vertrieb in Deutschland:
Aktien der folgenden Subfonds dürfen nicht öffentlich an Anleger in der Bundesrepublik Deutschland vertrieben werden:
Focused SICAV
- High Grade Bond GBP
- High Grade Long Term Bond GBP


## Internetadresse
http://www.ubs.com/funds