# UBS (Lux) Equity SICAV – Global Opportunity Unconstrained (USD)
| Most important figures |  |
| --- | --- |
|  | ISIN | 30.11.2019 | 31.5.2019 | 31.5.2018 |
| Net assets in USD |  | 70 375 204.97 | 59 744 560.53 | 153 360 213.31 |
| Class I-B-acc | LU1323608122 |  |  |  |
| Shares outstanding |  | 168 140.7940 | 116 376.6610 | 95 128.5560 |
| Net asset value per share in USD |  | 137.64 | 124.73 | 119.50 |
| Issue and redemption price per share in USD 1 |  | 137.64 | 124.73 | 119.50 |
| Class (EUR) I-B-acc | LU1776281823 |  |  |  |
| Shares outstanding |  | 25 877.0000 | 28 569.0000 | 816 943.0000 |
| Net asset value per share in EUR |  | 124.17 | 111.34 | 102.14 |
| Issue and redemption price per share in EUR 1 |  | 124.17 | 111.34 | 102.14 |
| Class P-4%-mdist | LU1278831067 |  |  |  |
| Shares outstanding |  | 15 430.5070 | 18 430.5070 | 20 512.4410 |
| Net asset value per share in USD |  | 113.62 | 106.07 | 107.88 |
| Issue and redemption price per share in USD 1 |  | 113.62 | 106.07 | 107.88 |
| Class (EUR hedged) P-4%-mdist | LU1278831570 |  |  |  |
| Shares outstanding |  | 6 124.9490 | 5 108.9310 | 5 164.0760 |
| Net asset value per share in EUR |  | 103.89 | 98.36 | 103.09 |
| Issue and redemption price per share in EUR 1 |  | 103.89 | 98.36 | 103.09 |
| Class P-acc | LU1278830929 |  |  |  |
| Shares outstanding |  | 51 558.1180 | 61 912.3910 | 181 576.7940 |
| Net asset value per share in USD |  | 133.71 | 122.39 | 119.64 |
| Issue and redemption price per share in USD 1 |  | 133.71 | 122.39 | 119.64 |
| Class (HKD) P-acc 2 | LU1278831737 |  |  |  |
| Shares outstanding |  | - | - | 195.9450 |
| Net asset value per share in HKD |  | - | - | 1 209.88 |
| Issue and redemption price per share in HKD 1 |  | - | - | 1 209.88 |
| Class (CHF hedged) P-acc 3 | LU1278831224 |  |  |  |
| Shares outstanding |  | - | - | 3 250.9140 |
| Net asset value per share in CHF |  | - | - | 113.01 |
| Issue and redemption price per share in CHF 1 |  | - | - | 113.01 |
| Class (EUR hedged) P-acc | LU1278831497 |  |  |  |
| Shares outstanding |  | 26 705.5750 | 28 147.3500 | 31 734.0300 |
| Net asset value per share in EUR |  | 122.24 | 113.47 | 114.28 |
| Issue and redemption price per share in EUR 1 |  | 122.24 | 113.47 | 114.28 |
| Class (SGD hedged) P-acc 3 | LU1278831653 |  |  |  |
| Shares outstanding |  | - | - | 14 405.3790 |
| Net asset value per share in SGD |  | - | - | 116.36 |
| Issue and redemption price per share in SGD 1 |  | - | - | 116.36 |
| Class Q-acc | LU1294558454 |  |  |  |
| Shares outstanding |  | 25 809.8160 | 30 170.1640 | 37 132.1820 |
| Net asset value per share in USD |  | 142.62 | 129.88 | 125.68 |
| Issue and redemption price per share in USD 1 |  | 142.62 | 129.88 | 125.68 |
| Class (CHF hedged) Q-acc 3 | LU1294558611 |  |  |  |
| Shares outstanding |  | - | - | 8 390.6280 |
| Net asset value per share in CHF |  | - | - | 118.66 |
| Issue and redemption price per share in CHF 1 |  | - | - | 118.66 |
| Class (EUR hedged) Q-acc | LU1294558538 |  |  |  |
| Shares outstanding |  | 31 244.8550 | 30 092.9800 | 34 095.8680 |
| Net asset value per share in EUR |  | 130.33 | 120.37 | 120.00 |
| Issue and redemption price per share in EUR 1 |  | 130.33 | 120.37 | 120.00 |
| Class U-X-acc | LU1278831141 |  |  |  |
| Shares outstanding | 1 546.8800 | 1 518.8950 | 290.9740 |
| Net asset value per share in USD | 14 591.71 | 13 218.99 | 12 655.35 |
| Issue and redemption price per share in USD 1 | 14 591.71 | 13 218.99 | 12 655.35 |
| 1  See note 1 2  The share class (HKD) P-acc was in circulation until 19.2.2019 3  The share classes (CHF hedged) P-acc, (SGD hedged) P-acc and (CHF hedged) Q-acc were in circulation until 29.1.2019 |  |  |  |

UBS (Lux) Equity SICAV – Global Opportunity Unconstrained (USD) Semi-Annual Report as of 30 November 2019

## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
| United States | 67.21 |
| --- | --- |
| Japan | 8.79 |
| China | 7.42 |
| Ireland | 3.34 |
| Australia | 1.50 |
| Sweden | 1.49 |
| Hong Kong | 1.30 |
| Germany | 1.26 |
| South Africa | 1.20 |
| Denmark | 1.06 |
| France | 0.66 |
| Canada | 0.53 |
| The Netherlands | 0.27 |
| Argentina | 0.26 |
| Total | 96.29 |

Economic Breakdown as a % of net assets	
| Internet, software & IT services | 24.33 |
| --- | --- |
| Banks & credit institutions | 12.70 |
| Retail trade, department stores | 7.49 |
| Miscellaneous services | 5.86 |
| Pharmaceuticals, cosmetics & medical products | 5.69 |
| Energy & water supply | 4.47 |
| Electronics & semiconductors | 3.95 |
| Petroleum | 3.73 |
| Insurance | 3.42 |
| Building industry & materials | 3.12 |
| Graphic design, publishing & media | 2.73 |
| Vehicles | 2.72 |
| Finance & holding companies | 2.39 |
| Biotechnology | 1.74 |
| Telecommunications | 1.59 |
| Healthcare & social services | 1.57 |
| Lodging, catering & leisure | 1.57 |
| Food & soft drinks | 1.26 |
| Traffic & transportation | 1.26 |
| Mechanical engineering & industrial equipment | 1.17 |
| Chemicals | 1.14 |
| Computer hardware & network equipment providers | 0.96 |
| Electrical devices & components | 0.90 |
| Precious metals & stones | 0.53 |
| Total | 96.29 |

UBS (Lux) Equity SICAV – Global Opportunity Unconstrained (USD)
Semi-Annual Report as of 30 November 2019

## Statement of Net Assets
Assets	30.11.2019
USD
Investments in securities, cost	60 492 268.91
Investments in securities, unrealized appreciation (depreciation)		7 268 905.55	 Total investments in securities (Note 1)			67 761 174.46
Cash at banks, deposits on demand and deposit accounts	2 269 563.55*
Receivable on securities sales (Note 1)	81 325.60
Receivable on dividends	76 592.35
Other receivables	47 517.86
Unrealized gain (loss) on forward foreign exchange contracts (Note 1)	-91 990.70
Total Assets	70 469 125.05
Liabilities
Unrealized gain (loss) on Synthetic Equity Swaps (Note 1)	324 941.93
Bank overdraft	-7 001.74
Payable on securities purchases (Note 1)	-63 068.45
Provisions for flat fee (Note 2)	-14 101.76
Provisions for taxe d’abonnement (Note 3)	-2 524.74
Provisions for other commissions and fees (Note 2)		-7 223.39		 Total provisions			-23 849.89
Total Liabilities	-93 920.08
Net assets at the end of the period	70 375 204.97

## Statement of Operations
Income	1.6.2019-30.11.2019
USD
Interest on liquid assets	65 356.92
Dividends	266 936.72
Income on Synthetic Equity Swaps (Note 1)	254 907.09
Income on securities lending (Note 13)	6 925.48
Total income	601 647.93
Expenses
Other income (Note 4)	7 521.72
Interest paid on Synthetic Equity Swaps (Note 1)	-297 109.64
Flat fee (Note 2)	-186 707.13
Taxe d’abonnement (Note 3)	-7 611.38
Cost on securities lending (Note 13)	-2 770.19
Other commissions and fees (Note 2)	-4 630.23
Net income (loss) on investments	98 387.24
Total expenses	-503 260.69
Interest on cash and bank overdraft	-4 432.12
Realized gain (loss) (Note 1)
Realized gain (loss) on market-priced securities without options	1 357 324.47
Realized gain (loss) on forward foreign exchange contracts	-326 215.71
Realized gain (loss) on Synthetic Equity Swaps	1 737 908.66
Net realized gain (loss) of the period	2 804 148.23
Total realized gain (loss)	2 705 760.99
Realized gain (loss) on foreign exchange	-63 256.43
Changes in unrealized appreciation (depreciation) (Note 1)
Unrealized appreciation (depreciation) on market-priced securities without options	3 467 367.58
Unrealized appreciation (depreciation) on forward foreign exchange contracts	13 644.71
Total changes in unrealized appreciation (depreciation)	3 236 622.51
Unrealized appreciation (depreciation) on Synthetic Equity Swaps	-244 389.78
Net increase (decrease) in net assets as a result of operations	6 040 770.74
* As at 30 November 2019, cash amounts serves as collateral for the counterparty Goldman Sachs for an amount of USD 370 000.00.
UBS (Lux) Equity SICAV – Global Opportunity Unconstrained (USD) Semi-Annual Report as of 30 November 2019
| Statement of Changes in Net Assets |  |
| --- | --- |
|  | USD |
|  | 1.6.2019-30.11.2019 |
| Net assets at the beginning of the period | 59 744 560.53 |
| Subscriptions | 12 656 476.76 |
| Redemptions | 	-8 016 700.32	 |
| Total net subscriptions (redemptions) | 4 639 776.44 |
| Dividend paid | -49 902.74 |
| Net income (loss) on investments | 98 387.24 |
| Total realized gain (loss) | 2 705 760.99 |
| Total changes in unrealized appreciation (depreciation) | 	3 236 622.51	 |
| Net increase (decrease) in net assets as a result of operations | 6 040 770.74 |
| Net assets at the end of the period | 70 375 204.97 |
| Changes in the Number of Shares outstanding |  |
|  | 1.6.2019-30.11.2019 |
| Class | I-B-acc |
| Number of shares outstanding at the beginning of the period | 116 376.6610 |
| Number of shares issued | 72 087.2230 |
| Number of shares redeemed | -20 323.0900 |
| Number of shares outstanding at the end of the period | 168 140.7940 |
| Class | (EUR) I-B-acc |
| Number of shares outstanding at the beginning of the period | 28 569.0000 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -2 692.0000 |
| Number of shares outstanding at the end of the period | 25 877.0000 |
| Class | P-4%-mdist |
| Number of shares outstanding at the beginning of the period | 18 430.5070 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -3 000.0000 |
| Number of shares outstanding at the end of the period | 15 430.5070 |
| Class | (EUR hedged) P-4%-mdist |
| Number of shares outstanding at the beginning of the period | 5 108.9310 |
| Number of shares issued | 1 520.7900 |
| Number of shares redeemed | -504.7720 |
| Number of shares outstanding at the end of the period | 6 124.9490 |
| Class | P-acc |
| Number of shares outstanding at the beginning of the period | 61 912.3910 |
| Number of shares issued | 57.9540 |
| Number of shares redeemed | -10 412.2270 |
| Number of shares outstanding at the end of the period | 51 558.1180 |
| Class | (EUR hedged) P-acc |
| Number of shares outstanding at the beginning of the period | 28 147.3500 |
| Number of shares issued | 514.2320 |
| Number of shares redeemed | -1 956.0070 |
| Number of shares outstanding at the end of the period | 26 705.5750 |
| Class | Q-acc |
| Number of shares outstanding at the beginning of the period | 30 170.1640 |
| Number of shares issued | 0.5040 |
| Number of shares redeemed | -4 360.8520 |
| Number of shares outstanding at the end of the period | 25 809.8160 |
| Class | (EUR hedged) Q-acc |
| Number of shares outstanding at the beginning of the period | 30 092.9800 |
| Number of shares issued | 2 855.8770 |
| Number of shares redeemed | -1 704.0020 |
| Number of shares outstanding at the end of the period | 31 244.8550 |
| Class | U-X-acc |
| Number of shares outstanding at the beginning of the period | 1 518.8950 |
| Number of shares issued | 170.0000 |
| Number of shares redeemed | -142.0150 |
| Number of shares outstanding at the end of the period | 1 546.8800 |

UBS (Lux) Equity SICAV – Global Opportunity Unconstrained (USD)
Semi-Annual Report as of 30 November 2019
| Monthly Distribution 1 |  |
| --- | --- |
| UBS (Lux) Equity SICAV – Global Opportunity Unconstrained (USD) | Ex-Date | Pay-Date | Currency | Amount per share |
| P-4%-mdist | 11.6.2019 | 14.6.2019 | USD | 0.35 |
| P-4%-mdist | 10.7.2019 | 15.7.2019 | USD | 0.38 |
| P-4%-mdist | 12.8.2019 | 16.8.2019 | USD | 0.38 |
| P-4%-mdist | 10.9.2019 | 13.9.2019 | USD | 0.37 |
| P-4%-mdist | 10.10.2019 | 15.10.2019 | USD | 0.36 |
| P-4%-mdist | 11.11.2019 | 14.11.2019 | USD | 0.36 |
| (EUR hedged) P-4%-mdist | 11.6.2019 | 14.6.2019 | EUR | 0.32 |
| (EUR hedged) P-4%-mdist | 10.7.2019 | 15.7.2019 | EUR | 0.35 |
| (EUR hedged) P-4%-mdist | 12.8.2019 | 16.8.2019 | EUR | 0.35 |
| (EUR hedged) P-4%-mdist | 10.9.2019 | 13.9.2019 | EUR | 0.34 |
| (EUR hedged) P-4%-mdist | 10.10.2019 | 15.10.2019 | EUR | 0.33 |
| (EUR hedged) P-4%-mdist | 11.11.2019 | 14.11.2019 | EUR | 0.33 |
| 1  See note 5 |  |  |  |  |

UBS (Lux) Equity SICAV – Global Opportunity Unconstrained (USD) Semi-Annual Report as of 30 November 2019

## Statement of Investments in Securities and other Net Assets as of 30 November 2019
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Transferable securities and money market instruments listed on an official stock exchange |  |  |  |
| Bearer shares |  |  |  |
| Argentina |  |  |  |
| USD	GEOPARK LIMITED COM USD0.001 | 10 200.00 | 184 212.00 | 0.26 |
| Total Argentina |  | 184 212.00 | 0.26 |
| Australia |  |  |  |
| AUD	ARISTOCRAT LEISURE NPV | 45 934.00 | 1 053 886.18 | 1.50 |
| Total Australia |  | 1 053 886.18 | 1.50 |
| Canada |  |  |  |
| CAD	IVANHOE MINES LTD COM NPV CL’A’ | 140 405.00 | 371 030.72 | 0.53 |
| Total Canada |  | 371 030.72 | 0.53 |
| China |  |  |  |
| HKD	CHINA MEIDONG AUTO HKD0.1 | 466 000.00 | 525 070.42 | 0.75 |
| CNY	HANGZHOU HIKVISION ‘A’CNY1 | 142 300.00 | 636 112.29 | 0.90 |
| HKD	TENCENT HLDGS LIMI HKD0.00002 | 8 440.00 | 357 751.84 | 0.51 |
| HKD	WUXI BIOLOGICS (CA USD0.000025) | 42 500.00 | 480 230.59 | 0.68 |
| HKD	ZHONGSHENG GROUP H HKD0.0001 REG’S | 160 500.00 | 568 985.34 | 0.81 |
| Total China |  | 2 568 150.48 | 3.65 |
| Denmark |  |  |  |
| DKK	GENMAB AS DKK1 (BEARER) | 3 200.00 | 746 118.88 | 1.06 |
| Total Denmark |  | 746 118.88 | 1.06 |
| France |  |  |  |
| EUR	CGG EUR0.01 | 176 445.00 | 463 024.85 | 0.66 |
| Total France |  | 463 024.85 | 0.66 |
| Germany |  |  |  |
| EUR	RWE AG (NEU) NPV | 23 193.00 | 688 158.72 | 0.98 |
| EUR	SERVICEWARE SE NPV | 13 616.00 | 199 432.71 | 0.28 |
| Total Germany |  | 887 591.43 | 1.26 |
| Hong Kong |  |  |  |
| HKD	AIA GROUP LTD NPV | 91 400.00 | 915 430.36 | 1.30 |
| Total Hong Kong |  | 915 430.36 | 1.30 |
| Sweden |  |  |  |
| SEK	LUNDIN PETROLEUM A NPV | 33 994.00 | 1 048 356.83 | 1.49 |
| Total Sweden |  | 1 048 356.83 | 1.49 |
| United States |  |  |  |
| USD	ALPHABET INC CAP STK USD0.001 CL C | 1 158.00 | 1 511 143.68 | 2.15 |
| USD	COCA-COLA CO COM USD0.25 | 16 646.00 | 888 896.40 | 1.26 |
| USD	EDWARDS LIFESCIENCES CORP COM | 4 722.00 | 1 156 606.68 | 1.64 |
| USD	EPAM SYS INC COM USD0.001 | 3 864.00 | 818 588.40 | 1.16 |
| USD	JP MORGAN CHASE & COM USD1 | 13 515.00 | 1 780 736.40 | 2.53 |
| USD	MARSH & MCLENNAN COM USD1 | 8 070.00 | 872 124.90 | 1.24 |
| USD	NEXTERA ENERGY INC COM USD0.01 | 6 895.00 | 1 612 188.90 | 2.29 |
| USD	PAYCOM SOFTWARE IN COM USD0.01 | 3 671.00 | 1 016 169.51 | 1.45 |
| USD	SHERWIN-WILLIAMS COM USD1 | 1 805.00 | 1 052 549.65 | 1.50 |
| USD	VEEVA SYSTEMS INC COM USD0.00001 CL ‘A’ | 6 039.00 | 900 898.02 | 1.28 |
| USD	ZOETIS INC COM USD0.01 CL ‘A’ | 12 511.00 | 1 507 825.72 | 2.14 |
| Total United States |  | 13 117 728.26 | 18.64 |
| Total Bearer shares |  | 21 355 529.99 | 30.35 |
| Registered shares |  |  |  |
| Ireland |  |  |  |
| USD	ACCENTURE PLC SHS CL A ‘NEW’ | 6 028.00 | 1 212 592.48 | 1.72 |
| EUR	CRH ORD EUR0.32 | 29 778.00 | 1 140 297.83 | 1.62 |
| Total Ireland |  | 2 352 890.31 | 3.34 |
| Japan |  |  |  |
| JPY	NIPPON TEL&TEL CP NPV | 22 200.00 | 1 120 440.14 | 1.59 |
| JPY	SOFTBANK GROUP CO NPV | 28 400.00 | 1 102 960.45 | 1.57 |
| JPY	SONY CORP NPV | 18 000.00 | 1 134 800.47 | 1.61 |
| JPY	TOKIO MARINE HLDG NPV | 20 500.00 | 1 114 199.61 | 1.59 |
| JPY	TOYOTA MOTOR CORP NPV | 11 800.00 | 823 015.24 | 1.17 |
| JPY	WEST JAPAN RAILWAY NPV | 10 100.00 | 888 811.06 | 1.26 |
| Total Japan |  | 6 184 226.97 | 8.79 |
| United States |  |  |  |
| USD	ADOBE INC COM USD0.0001 | 3 337.00 | 1 032 901.61 | 1.47 |
| USD	AIR PRODS & CHEMS COM USD1 | 3 379.00 | 798 559.07 | 1.13 |
| USD	AMAZON COM INC COM USD0.01 | 1 022.00 | 1 840 417.60 | 2.62 |
| USD	AMER EXPRESS CO COM USD0.20 | 13 019.00 | 1 563 842.28 | 2.22 |

UBS (Lux) Equity SICAV – Global Opportunity Unconstrained (USD)
Semi-Annual Report as of 30 November 2019
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | AMER INTL GRP COM USD2.50 | 11 758.00 | 619 176.28 | 0.88 |
| USD | ANTHEM INC COM USD0.01 | 2 238.00 | 646 021.08 | 0.92 |
| USD | AUTO DATA PROCESS COM USD0.10 | 8 525.00 | 1 455 899.50 | 2.07 |
| USD | BROADCOM CORP COM USD1.00 | 2 142.00 | 677 321.82 | 0.96 |
| USD | CITIGROUP INC COM USD0.01 | 14 460.00 | 1 086 235.20 | 1.54 |
| USD | COMCAST CORP COM CLS’A’ USD0.01 | 24 362.00 | 1 075 582.30 | 1.53 |
| USD | DANAHER CORP COM USD0.01 | 5 624.00 | 820 991.52 | 1.17 |
| USD | DOLLAR TREE INC | 4 193.00 | 383 491.78 | 0.55 |
| USD | EVERSOURCE ENERGY COM USD5 | 10 248.00 | 846 894.72 | 1.20 |
| USD | FACEBOOK INC COM USD0.000006 CL ‘A’ | 6 598.00 | 1 330 420.72 | 1.89 |
| USD | GLOBAL PAYMENTS COM NPV | 10 236.00 | 1 853 739.60 | 2.63 |
| USD | HESS CORPORATION COM USD1 | 10 017.00 | 621 955.53 | 0.88 |
| USD | HOME DEPOT INC COM USD0.05 | 5 415.00 | 1 194 061.65 | 1.70 |
| USD | KOSMOS ENERGY LTD COM USD0.01 | 82 108.00 | 490 184.76 | 0.70 |
| USD | MASTERCARD INC COM USD0.0001 CLASS ‘A’ | 10 340.00 | 3 021 658.20 | 4.29 |
| USD | MEDTRONIC PLC USD0.0001 | 12 000.00 | 1 336 680.00 | 1.90 |
| USD | MICROSOFT CORP COM USD0.0000125 | 33 103.00 | 5 011 132.14 | 7.12 |
| USD | THERMO FISHER SCIE COM USD1 | 5 249.00 | 1 647 923.55 | 2.34 |
| USD | TJX COS INC COM USD1 | 18 296.00 | 1 118 434.48 | 1.59 |
| USD | VISA INC COM STK USD0.0001 | 8 029.00 | 1 481 430.79 | 2.11 |
| USD | WALMART INC COM USD0.10 | 9 401.00 | 1 119 565.09 | 1.59 |
| USD | YUM BRANDS INC COM | 10 974.00 | 1 104 752.58 | 1.57 |
| Total United States |  | 34 179 273.85 | 48.57 |
| Total Registered shares |  | 42 716 391.13 | 60.70 |
| Depository receipts |  |  |  |
| China |  |  |  |
| USD	ALIBABA GROUP HLDG SPON ADS EACH REP ONE ORD-ADR | 9 287.00 | 1 857 400.00 | 2.64 |
| USD	BAIDU INC ADS EACH REPR 10 ORD CLS’A | 2 850.00 | 337 810.50 | 0.48 |
| USD	TAL EDUCATION GRP ADS EA REPR 2 CL A ORD SHS | 10 400.00 | 460 304.00 | 0.65 |
| Total China |  | 2 655 514.50 | 3.77 |
| The Netherlands |  |  |  |
| USD	PROSUS N.V. SPON ADR EACH REP 1 ORD SHS | 13 982.00 | 190 434.84 | 0.27 |
| Total The Netherlands |  | 190 434.84 | 0.27 |
| South Africa |  |  |  |
| USD	NASPERS SPON ADR EACH REP 0.2 ORD | 29 600.00 | 843 304.00 | 1.20 |
| Total South Africa |  | 843 304.00 | 1.20 |
| Total Depository receipts |  | 3 689 253.34 | 5.24 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 67 761 174.46 | 96.29 |
| Total investments in securities |  | 67 761 174.46 | 96.29 |


## Derivative instruments
Derivative instruments not listed on an official stock exchange and not traded on another regulated market
Synthetic Equity Swaps*
| EUR | GOLDMAN SACHS/SIEMENS GAMESA (SYNTHETIC EQUITY SWAP) | -33 795.00 | -63 046.41 | -0.09 |
| --- | --- | --- | --- | --- |
| GBP | GOLDMAN SACHS/NEXT PLC (SYNTHETIC EQUITY SWAP) | 2 355.00 | 5 361.30 | 0.01 |
| GBP | GOLDMAN SACHS/RECKITT BENCKISER GRP (SYNTHETIC EQUITY SWAP) | 10 503.00 | 13 857.34 | 0.02 |
| GBP | GOLDMAN SACHS/WPP PLC (SYNTHETIC EQUITY SWAP) | -17 036.00 | -8 219.46 | -0.01 |
| GBP | GOLDMAN SACHS/MARKS & SPENCER (SYNTHETIC EQUITY SWAP) | -216 873.00 | -36 605.74 | -0.05 |
| USD | GOLDMAN SACHS/HUTCHISON PORT HL NPV(SYNTHETIC EQUITY SWAP) | -2 554 800.00 | -7 664.40 | -0.01 |
| GBP | GOLDMAN SACHS/ASTRAZENECA ORD (SYNTHETIC EQUITY SWAP) | 16 910.00 | -9 405.43 | -0.01 |
| USD | GOLDMAN SACHS/TESLA MOTORS INC COM(SYNTHETIC EQUITY SWAP) | -1 062.00 | 7 706.08 | 0.01 |
| EUR | GOLDMAN SACHS/FUGRO NV (SYNTHETIC EQUITY SWAP) | -32 067.00 | -15 839.97 | -0.02 |
| EUR | GOLDMAN SACHS/OUTOKUMPU OYJ (SYNTHETIC EQUITY SWAP) | -95 359.00 | 13 979.80 | 0.02 |
| USD | GOLDMAN SACHS/TRANSOCEAN LTD (SYNTHETIC EQUITY SWAP) | -55 990.00 | -3 384.17 | 0.00 |
| EUR | GOLDMAN SACHS/SAFRAN(SYNTHETIC EQUITY SWAP) | 9 408.00 | 68 463.52 | 0.10 |
| CHF | GOLDMAN SACHS/DUFRY AG(SYNTHETIC EQUITY SWAP) | -7 791.00 | -93 552.81 | -0.13 |
| CHF | GOLDMAN SACHS/NOVARTIS AG (SYNTHETIC EQUITY SWAP) | 15 665.00 | 93 580.88 | 0.13 |
| CHF | GOLDMAN SACHS/NESTLE SA(SYNTHETIC EQUITY SWAP) | 15 822.00 | -21 512.22 | -0.03 |
| USD | GOLDMAN SACHS/GAP INC DEL COM(SYNTHETIC EQUITY SWAP) | -8 053.00 | -2 818.55 | 0.00 |
| EUR | GOLDMAN SACHS/PERNOD RICARD(SYNTHETIC EQUITY SWAP) | 6 950.00 | 8 263.95 | 0.01 |
| EUR | GOLDMAN SACHS/GROUPE DANONE ORD (SYNTHETIC EQUITY SWAP) | 15 481.00 | 6 593.15 | 0.01 |
| USD | GOLDMAN SACHS/ZAYO GROUP HOLDING COM(SYNTHETIC EQUITY SWAP) | -14 814.00 | -1 481.40 | 0.00 |
| USD | GOLDMAN SACHS/MATTEL INC COM(SYNTHETIC EQUITY SWAP) | -20 109.00 | 4 826.16 | 0.01 |
| EUR | GOLDMAN SACHS/DEUTSCHE BANK AG-REG (SYNTHETIC EQUITY SWAP) | -53 725.00 | -2 961.86 | 0.00 |
| EUR | GOLDMAN SACHS/LVMH MOET HENNESSY (SYNTHETIC EQUITY SWAP) | 2 388.00 | 56 328.87 | 0.08 |
| GBP | GOLDMAN SACHS/SOUTH32 LTD NPV(SYNTHETIC EQUITY SWAP) | -140 055.00 | -8 587.04 | -0.01 |
| EUR | GOLDMAN SACHS/SAMPO OYJ SER’A’ (SYNTHETIC EQUITY SWAP) | 36 568.00 | -1 612.80 | 0.00 |
| DKK | GOLDMAN SACHS/VESTAS WIND SYSTEM(SYNTHETIC EQUITY SWAP) | -1 983.00 | -28 853.64 | -0.04 |
| EUR | GOLDMAN SACHS/MONCLER SPA NPV (SYNTHETIC EQUITY SWAP) | 17 402.00 | 100 350.34 | 0.14 |
| GBP | GOLDMAN SACHS/ITV ORD (SYNTHETIC EQUITY SWAP) | -183 478.00 | -29 072.78 | -0.04 |
| EUR | GOLDMAN SACHS/VARTA AG (SYNTHETIC EQUITY SWAP) | 6 865.00 | 112 026.37 | 0.16 |
| JPY | GOLDMAN SACHS/KEYENCE CORP NPV(SYNTHETIC EQUITY SWAP) | 840.00 | 23 241.70 | 0.03 |
| JPY | GOLDMAN SACHS/HITACHI NPV(SYNTHETIC EQUITY SWAP) | 32 600.00 | 68 766.32 | 0.10 |

* Positive nominal: the subfund is “Receiver”, negative nominal: the subfund is “Payer”.
UBS (Lux) Equity SICAV – Global Opportunity Unconstrained (USD) Semi-Annual Report as of 30 November 2019
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | GOLDMAN SACHS/SNAP-ON INC COM (SYNTHETIC EQUITY SWAP) | -2 947.00 | 6 433.01 | 0.01 |
| JPY | GOLDMAN SACHS/SEVEN BANK NPV(SYNTHETIC EQUITY SWAP) | -47 600.00 | -10 431.92 | -0.01 |
| USD | GOLDMAN SACHS/KRATOS DEFENSE (SYNTHETIC EQUITY SWAP) | -19 789.00 | 7 901.10 | 0.01 |
| DKK | GOLDMAN SACHS/ISS A/S (SYNTHETIC EQUITY SWAP) | -20 018.00 | 49 663.67 | 0.07 |
| GBP | GOLDMAN SACHS/BP ORD (SYNTHETIC EQUITY SWAP) | 233 492.00 | -27 483.99 | -0.04 |
| EUR | GOLDMAN SACHS/SCHNEIDER ELECTRIC (SYNTHETIC EQUITY SWAP) | 12 125.00 | 58 021.57 | 0.08 |
| EUR | GOLDMAN SACHS/CASINO GUICH-PERR (SYNTHETIC EQUITY SWAP) | -6 741.00 | 62 657.04 | 0.09 |
| USD | GOLDMAN SACHS/GTT COMMUNICATIONS COM (SYNTHETIC EQUITY SWAP) | -7 587.00 | -10 166.58 | -0.01 |
| GBP | GOLDMAN SACHS/BEAZLEY PLC (SYNTHETIC EQUITY SWAP) | 21 725.00 | -15 315.21 | -0.02 |
| USD | GOLDMAN SACHS/AUTODESK INC COM (SYNTHETIC EQUITY SWAP) | -2 349.00 | -78 785.46 | -0.11 |
| HKD | GOLDMAN SACHS/CANVEST ENVIRONMENT(SYNTHETIC EQUITY SWAP) | -554 000.00 | -7 785.12 | -0.01 |
| USD | GOLDMAN SACHS/FRANKS INTERNATIONAL(SYNTHETIC EQUITY SWAP) | -60 482.00 | -12 096.40 | -0.02 |
| USD | GOLDMAN SACHS/MACY’S INC (SYNTHETIC EQUITY SWAP) | -14 734.00 | -2 357.44 | 0.00 |
| USD | GOLDMAN SACHS/HANESBRANDS INC COM (SYNTHETIC EQUITY SWAP) | -32 975.00 | 1 183.76 | 0.00 |
| USD | GOLDMAN SACHS/ABBVIE INC (SYNTHETIC EQUITY SWAP) | -2 276.00 | -18 617.68 | -0.03 |
| USD | GOLDMAN SACHS/NEWOCEAN ENERGY HL (SYNTHETIC EQUITY SWAP) | -892 000.00 | 15 809.62 | 0.02 |
| USD | GOLDMAN SACHS/ASCENA RETAIL GRP COM (SYNTHETIC EQUITY SWAP) | -88 322.00 | -8 699.72 | -0.01 |
| USD | GOLDMAN SACHS/SAMSUNG HEAVY (SYNTHETIC EQUITY SWAP) | -49 339.00 | 16 734.44 | 0.02 |
| EUR | GOLDMAN SACHS/KERING(SYNTHETIC EQUITY SWAP) | 1 103.00 | 44 390.12 | 0.06 |
| SEK | GOLDMAN SACHS/BILLERUDKORSNAS AB NPV (SYNTHETIC EQUITY SWAP) | -39 121.00 | 27 995.68 | 0.04 |
| HKD | GOLDMAN SACHS/361 DEGREES INTERN (SYNTHETIC EQUITY SWAP) | -905 000.00 | 21 966.72 | 0.03 |
| EUR | GOLDMAN SACHS/AIR LIQUIDE POST-SUB (SYNTHETIC EQUITY SWAP) | 5 768.00 | 25 121.20 | 0.03 |
| USD | GOLDMAN SACHS/MACERICH CO COM (SYNTHETIC EQUITY SWAP) | -19 800.00 | 15 286.56 | 0.02 |
| USD | GOLDMAN SACHS/WAYFAIR INC COM(SYNTHETIC EQUITY SWAP) | -2 947.00 | -7 927.43 | -0.01 |
| HKD | GOLDMAN SACHS/XIAOMI CORPORATION (SYNTHETIC EQUITY SWAP) | -163 200.00 | -1 042.45 | 0.00 |
| EUR | GOLDMAN SACHS/EUTELSAT COMMUNICA (SYNTHETIC EQUITY SWAP) | -17 134.00 | 39 862.01 | 0.06 |
| EUR | GOLDMAN SACHS/AXA (SYNTHETIC EQUITY SWAP) | 29 625.00 | 32 991.17 | 0.05 |
| USD | GOLDMAN SACHS/IQIYI INC SPON EACH AD (SYNTHETIC EQUITY SWAP) | -15 700.00 | -25 292.80 | -0.05 |
| USD | GOLDMAN SACHS/KROGER CO COM (SYNTHETIC EQUITY SWAP) | -9 388.00 | -19 021.40 | -0.03 |
| USD | GOLDMAN SACHS/URBAN OUTFITTERS INC COM (SYNTHETIC EQUITY SWAP) | -6 292.00 | 19 127.68 | 0.03 |
| USD | GOLDMAN SACHS/UNDER ARMOUR INC (SYNTHETIC EQUITY SWAP) | -13 419.00 | 23 617.44 | 0.03 |
| CAD | GOLDMAN SACHS/IMPERIAL OIL LTD COM (SYNTHETIC EQUITY SWAP) | -10 100.00 | -3 497.84 | 0.00 |
| USD | GOLDMAN SACHS/CANADA GOOSE HLDGS COM (SYNTHETIC EQUITY SWAP) | -5 118.00 | 18 834.24 | 0.03 |
| EUR | GOLDMAN SACHS/KNORR BREMSE (SYNTHETIC EQUITY SWAP) | -3 351.00 | 6 507.03 | 0.01 |
| USD | GOLDMAN SACHS/WILEY(JOHN) & SONS CLASS’A’COM (SYNTHETIC EQUITY SWAP) | -7 554.00 | -8 989.26 | -0.01 |
| EUR | GOLDMAN SACH/KONINKLIJKE PHILIPS (SYNTHETIC EQUITY SWAP) | 21 168.00 | 67 102.03 | 0.09 |
| EUR | GOLDMAN SACHS/FUCHS PETROLUB SE NON-VTG PRF NP (SYNTHETIC EQUITY SWAP) | -6 849.00 | -6 947.57 | -0.01 |
| GBP | GOLDMAN SACHS/SOFTCAT PLC ORD (SYNTHETIC EQUITY SWAP) | 37 086.00 | 58 681.18 | 0.08 |
| DKK | GOLDMAN SACHS/H.LUNDBECK (SYNTHETIC EQUITY SWAP) | -7 721.00 | -35 663.08 | -0.05 |
| USD | GOLDMAN SACHS/8X8 INC NEW COM (SYNTHETIC EQUITY SWAP) | -24 397.00 | -29 276.40 | -0.04 |
| EUR | GOLDMAN SACHS/HAPAG-LLOYD AG (SYNTHETIC EQUITY SWAP) | -4 028.00 | -35 530.18 | -0.05 |
| USD | GOLDMAN SACHS/SLACK TECHNOLOGIES (SYNTHETIC EQUITY SWAP) | -13 130.00 | -10 766.60 | -0.03 |
| USD | GOLDMAN SACHS/FASTENAL COM (SYNTHETIC EQUITY SWAP) | -13 273.00 | 5 574.66 | 0.01 |
| USD | GOLDMAN SACHS/OMNICOM GROUP INC COM (SYNTHETIC EQUITY SWAP) | -7 879.00 | -12 290.74 | -0.02 |
| GBP | GOLDMAN SACHS/GREGGS ORD (SYNTHETIC EQUITY SWAP) | -13 909.00 | -55 053.35 | -0.08 |
| EUR | GOLDMAN SACHS/ZOOPLUS AG NPV (SYNTHETIC EQUITY SWAP) | -1 743.00 | 15 566.84 | 0.02 |
| USD | GOLDMAN SACHS/BED BATH & BEYOND INC COM (SYNTHETIC EQUITY SWAP) | -25 942.00 | -21 347.63 | -0.03 |
| EUR | GOLDMAN SACHS/ARCELORMITTAL NPV (SYNTHETIC EQUITY SWAP) | -21 886.00 | -55 454.20 | -0.08 |
| USD | GOLDMAN SACHS/CLOROX CO DEL COM (SYNTHETIC EQUITY SWAP) | -3 878.00 | -1 927.83 | 0.00 |
| USD | GOLDMAN SACHS/CHEWY INC (SYNTHETIC EQUITY SWAP) | -15 705.00 | -35 421.06 | -0.05 |
| USD | GOLDMAN SACHS/SMUCKER(JM)CO COM NPV (SYNTHETIC EQUITY SWAP) | -3 264.00 | 1 401.89 | 0.00 |
| EUR | GOLDMAN SACHS/LEGRAND SA (SYNTHETIC EQUITY SWAP) | 8 895.00 | -4 740.02 | -0.01 |
| USD | GOLDMAN SACHS/PENNEY J C INC COM (SYNTHETIC EQUITY SWAP) | -301 864.00 | -4 286.47 | -0.01 |
| Total Synthetic Equity Swaps | 324 941.93 | 0.46 |
| Total Derivative instruments not listed on an official stock exchange and not traded on another regulated market | 324 941.93 | 0.46 |
| Total Derivative instruments | 324 941.93 | 0.46 |
| Forward Foreign Exchange contracts |  |  |
| Forward Foreign Exchange contracts (Purchase/Sale) |  |  |

| JPY | 287 900 000.00 | USD | 2 657 389.65 | 14.1.2020 | -19 296.44 | -0.03 |
| --- | --- | --- | --- | --- | --- | --- |
| EUR | 4 510 000.00 | USD | 5 011 300.03 | 14.1.2020 | -22 461.05 | -0.03 |
| USD | 1 026 529.21 | ZAR | 15 230 000.00 | 14.1.2020 | -6 615.15 | -0.01 |
| GBP | 2 765 000.00 | USD | 3 588 029.90 | 14.1.2020 | -5 182.80 | -0.01 |
| EUR | 7 695 400.00 | USD | 8 550 151.16 | 14.1.2020 | -37 709.58 | -0.05 |
| EUR | 120 600.00 | USD | 134 130.11 | 14.1.2020 | -725.68 | 0.00 |
| Total Forward Foreign Exchange contracts (Purchase/Sale) | -91 990.70 | -0.13 |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 2 269 563.55* | 3.22 |
| Bank overdraft and other short-term liabilities | -7 001.74 | -0.01 |
| Other assets and liabilities | 118 517.47 | 0.17 |
| Total net assets | 70 375 204.97 | 100.00 |
| * As at 30 November 2019, cash amounts serves as collateral for the counterparty Goldman Sachs for an amount of USD 370 000.00. |  |  |

UBS (Lux) Equity SICAV – Global Opportunity Unconstrained (USD)
Semi-Annual Report as of 30 November 2019

Translation (ENDE, 2019-11-30):
# UBS (Lux) Equity SICAV – Global Opportunity Unconstrained (USD)
| Wichtigste Daten |  |
| --- | --- |
|  | ISIN | 30.11.2019 | 31.5.2019 | 31.5.2018 |
| Nettovermögen in USD |  | 70 375 204.97 | 59 744 560.53 | 153 360 213.31 |
| Klasse I-B-acc | LU1323608122 |  |  |  |
| Aktien im Umlauf |  | 168 140.7940 | 116 376.6610 | 95 128.5560 |
| Nettoinventarwert pro Aktie in USD |  | 137.64 | 124.73 | 119.50 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 137.64 | 124.73 | 119.50 |
| Klasse (EUR) I-B-acc | LU1776281823 |  |  |  |
| Aktien im Umlauf |  | 25 877.0000 | 28 569.0000 | 816 943.0000 |
| Nettoinventarwert pro Aktie in EUR |  | 124.17 | 111.34 | 102.14 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 1 |  | 124.17 | 111.34 | 102.14 |
| Klasse P-4%-mdist | LU1278831067 |  |  |  |
| Aktien im Umlauf |  | 15 430.5070 | 18 430.5070 | 20 512.4410 |
| Nettoinventarwert pro Aktie in USD |  | 113.62 | 106.07 | 107.88 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 113.62 | 106.07 | 107.88 |
| Klasse (EUR hedged) P-4%-mdist | LU1278831570 |  |  |  |
| Aktien im Umlauf |  | 6 124.9490 | 5 108.9310 | 5 164.0760 |
| Nettoinventarwert pro Aktie in EUR |  | 103.89 | 98.36 | 103.09 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 1 |  | 103.89 | 98.36 | 103.09 |
| Klasse P-acc | LU1278830929 |  |  |  |
| Aktien im Umlauf |  | 51 558.1180 | 61 912.3910 | 181 576.7940 |
| Nettoinventarwert pro Aktie in USD |  | 133.71 | 122.39 | 119.64 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 133.71 | 122.39 | 119.64 |
| Klasse (HKD) P-acc 2 | LU1278831737 |  |  |  |
| Aktien im Umlauf |  | - | - | 195.9450 |
| Nettoinventarwert pro Aktie in HKD |  | - | - | 1 209.88 |
| Ausgabe- und Rücknahmepreis pro Aktie in HKD 1 |  | - | - | 1 209.88 |
| Klasse (CHF hedged) P-acc 3 | LU1278831224 |  |  |  |
| Aktien im Umlauf |  | - | - | 3 250.9140 |
| Nettoinventarwert pro Aktie in CHF |  | - | - | 113.01 |
| Ausgabe- und Rücknahmepreis pro Aktie in CHF 1 |  | - | - | 113.01 |
| Klasse (EUR hedged) P-acc | LU1278831497 |  |  |  |
| Aktien im Umlauf |  | 26 705.5750 | 28 147.3500 | 31 734.0300 |
| Nettoinventarwert pro Aktie in EUR |  | 122.24 | 113.47 | 114.28 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 1 |  | 122.24 | 113.47 | 114.28 |
| Klasse (SGD hedged) P-acc 3 | LU1278831653 |  |  |  |
| Aktien im Umlauf |  | - | - | 14 405.3790 |
| Nettoinventarwert pro Aktie in SGD |  | - | - | 116.36 |
| Ausgabe- und Rücknahmepreis pro Aktie in SGD 1 |  | - | - | 116.36 |
| Klasse Q-acc | LU1294558454 |  |  |  |
| Aktien im Umlauf |  | 25 809.8160 | 30 170.1640 | 37 132.1820 |
| Nettoinventarwert pro Aktie in USD |  | 142.62 | 129.88 | 125.68 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 142.62 | 129.88 | 125.68 |
| Klasse (CHF hedged) Q-acc 3 | LU1294558611 |  |  |  |
| Aktien im Umlauf |  | - | - | 8 390.6280 |
| Nettoinventarwert pro Aktie in CHF |  | - | - | 118.66 |
| Ausgabe- und Rücknahmepreis pro Aktie in CHF 1 |  | - | - | 118.66 |
| Klasse (EUR hedged) Q-acc | LU1294558538 |  |  |  |
| Aktien im Umlauf |  | 31 244.8550 | 30 092.9800 | 34 095.8680 |
| Nettoinventarwert pro Aktie in EUR |  | 130.33 | 120.37 | 120.00 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 1 |  | 130.33 | 120.37 | 120.00 |
| Klasse U-X-acc | LU1278831141 |  |  |  |
| Aktien im Umlauf | 1 546.8800 | 1 518.8950 | 290.9740 |
| Nettoinventarwert pro Aktie in USD | 14 591.71 | 13 218.99 | 12 655.35 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 | 14 591.71 | 13 218.99 | 12 655.35 |
| 1  Siehe Erläuterung 1 2  Die Aktienklasse (HKD) P-acc war bis zum 19.2.2019 im Umlauf 3  Die Aktienklassen (CHF hedged) P-acc, (SGD hedged) P-acc und (CHF hedged) Q-acc waren bis zum 29.1.2019 im Umlauf |  |  |  |

UBS (Lux) Equity SICAV – Global Opportunity Unconstrained (USD)
Halbjahresbericht per 30. November 2019
UBS (Lux) Equity SICAV – Global Opportunity Unconstrained (USD) Halbjahresbericht per 30. November 2019

## Struktur des Wertpapierbestandes
Geographische Aufteilung in % des Nettovermögens	
| Vereinigte Staaten | 67.21 |
| --- | --- |
| Japan | 8.79 |
| China | 7.42 |
| Irland | 3.34 |
| Australien | 1.50 |
| Schweden | 1.49 |
| Hongkong | 1.30 |
| Deutschland | 1.26 |
| Südafrika | 1.20 |
| Dänemark | 1.06 |
| Frankreich | 0.66 |
| Kanada | 0.53 |
| Niederlande | 0.27 |
| Argentinien | 0.26 |
| Total | 96.29 |

Wirtschaftliche Aufteilung in % des Nettovermögens	
| Internet, Software & IT-Dienste | 24.33 |
| --- | --- |
| Banken & Kreditinstitute | 12.70 |
| Detailhandel, Warenhäuser | 7.49 |
| Diverse Dienstleistungen | 5.86 |
| Pharmazeutik, Kosmetik & medizinische Produkte | 5.69 |
| Energie- & Wasserversorgung | 4.47 |
| Elektronik & Halbleiter | 3.95 |
| Erdöl | 3.73 |
| Versicherungen | 3.42 |
| Baugewerbe & Baumaterial | 3.12 |
| Grafisches Gewerbe, Verlage & Medien | 2.73 |
| Fahrzeuge | 2.72 |
| Finanz- & Beteiligungsgesellschaften | 2.39 |
| Biotechnologie | 1.74 |
| Telekommunikation | 1.59 |
| Gesundheits- & Sozialwesen | 1.57 |
| Gastgewerbe & Freizeit | 1.57 |
| Nahrungsmittel & Softdrinks | 1.26 |
| Verkehr & Transport | 1.26 |
| Maschinen & Apparate | 1.17 |
| Chemie | 1.14 |
| Computer & Netzwerkausrüster | 0.96 |
| Elektrische Geräte & Komponenten | 0.90 |
| Edelmetalle und -steine | 0.53 |
| Total | 96.29 |


## Nettovermögensaufstellung
Aktiva	30.11.2019
USD
Wertpapierbestand, Einstandswert	60 492 268.91
Wertpapierbestand, nicht realisierte Werterhöhung (-minderung)		7 268 905.55	
Total Wertpapierbestand (Erläuterung 1)	67 761 174.46
Bankguthaben, Sicht- und Fristgelder	2 269 563.55*
Forderungen aus Wertpapierverkäufen (Erläuterung 1)	81 325.60
Forderungen aus Dividenden	76 592.35
Sonstige Forderungen	47 517.86
Nicht realisierter Kursgewinn (-verlust) aus Devisenterminkontrakten (Erläuterung 1)	-91 990.70
Total Aktiva	70 469 125.05
Passiva
Nicht realisierter Kursgewinn (-verlust) aus Synthetic Equity Swaps (Erläuterung 1)	324 941.93
Kontokorrentkredit	-7 001.74
Verbindlichkeiten aus Wertpapierkäufen (Erläuterung 1)	-63 068.45
Rückstellungen für pauschale Verwaltungskommission (Erläuterung 2)	-14 101.76
Rückstellungen für Abonnementsabgabe (Erläuterung 3)	-2 524.74
Rückstellungen für sonstige Kommissionen und Gebühren (Erläuterung 2)		-7 223.39		 Total Rückstellungen für Aufwendungen			-23 849.89
Total Passiva	-93 920.08
Nettovermögen am Ende der Berichtsperiode	70 375 204.97

## Ertrags- und Aufwandsrechnung
Erträge	1.6.2019-30.11.2019
USD
Zinsertrag aus liquiden Mitteln	65 356.92
Dividenden	266 936.72
Erträge aus Synthetic Equity Swaps (Erläuterung 1)	254 907.09
Erträge aus Securities Lending (Erläuterung 13)	6 925.48
Total Erträge	601 647.93
Aufwendungen
Sonstige Erträge (Erläuterung 4)	7 521.72
Aufwand aus Synthetic Equity Swaps (Erläuterung 1)	-297 109.64
Pauschale Verwaltungskommission (Erläuterung 2)	-186 707.13
Abonnementsabgabe (Erläuterung 3)	-7 611.38
Kosten aus Securities Lending (Erläuterung 13)	-2 770.19
Sonstige Kommissionen und Gebühren (Erläuterung 2)	-4 630.23
Nettoerträge (-verluste) aus Anlagen	98 387.24
Total Aufwendungen	-503 260.69
Zinsaufwand aus liquiden Mitteln und Kontokorrentkredit	-4 432.12
Realisierte Gewinne (Verluste) (Erläuterung 1)
Realisierter Kursgewinn (-verlust) aus marktbewerteten Wertpapieren ausser Optionen	1 357 324.47
Realisierter Kursgewinn (-verlust) aus Devisenterminkontrakten	-326 215.71
Realisierter Kursgewinn (-verlust) aus Synthetic Equity Swaps	1 737 908.66
Realisierter Nettogewinn (-verlust) der Berichtsperiode	2 804 148.23
Total der realisierten Gewinne (Verluste)	2 705 760.99
Realisierter Währungsgewinn (-verlust)	-63 256.43
Veränderungen der nicht realisierten Werterhöhung (-minderung) (Erläuterung 1)
Nicht realisierte Werterhöhung (-minderung) marktbewerteter Wertpapiere ausser Optionen	3 467 367.58
Nicht realisierte Werterhöhung (-minderung) von Devisenterminkontrakten	13 644.71
Total der Veränderungen der nicht realisierten Werterhöhung (-minderung)	3 236 622.51
Nicht realisierte Werterhöhung (-minderung) von Synthetic Equity Swaps	-244 389.78
Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit	6 040 770.74
* Zum 30. November 2019 wurden gegenüber Goldman Sachs Bankguthaben in Höhe von USD 370 000.00 als Sicherheit eingesetzt.
UBS (Lux) Equity SICAV – Global Opportunity Unconstrained (USD)
Halbjahresbericht per 30. November 2019
| Veränderungen des Nettovermögens |  |
| --- | --- |
|  | USD |
|  | 1.6.2019-30.11.2019 |
| Nettovermögen zu Beginn der Berichtsperiode | 59 744 560.53 |
| Zeichnungen | 12 656 476.76 |
| Rücknahmen | 	-8 016 700.32	 |
| Total Mittelzufluss (-abfluss) | 4 639 776.44 |
| Ausbezahlte Dividende | -49 902.74 |
| Nettoerträge (-verluste) aus Anlagen | 98 387.24 |
| Total der realisierten Gewinne (Verluste) | 2 705 760.99 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | 	3 236 622.51	 |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | 6 040 770.74 |
| Nettovermögen am Ende der Berichtsperiode | 70 375 204.97 |
| Entwicklung der Aktien im Umlauf |  |
|  | 1.6.2019-30.11.2019 |
| Klasse | I-B-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode | 116 376.6610 |
| Anzahl der ausgegebenen Aktien | 72 087.2230 |
| Anzahl der zurückgegebenen Aktien | -20 323.0900 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode | 168 140.7940 |
| Klasse | (EUR) I-B-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode | 28 569.0000 |
| Anzahl der ausgegebenen Aktien | 0.0000 |
| Anzahl der zurückgegebenen Aktien | -2 692.0000 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode | 25 877.0000 |
| Klasse | P-4%-mdist |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode | 18 430.5070 |
| Anzahl der ausgegebenen Aktien | 0.0000 |
| Anzahl der zurückgegebenen Aktien | -3 000.0000 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode | 15 430.5070 |
| Klasse | (EUR hedged) P-4%-mdist |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode | 5 108.9310 |
| Anzahl der ausgegebenen Aktien | 1 520.7900 |
| Anzahl der zurückgegebenen Aktien | -504.7720 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode | 6 124.9490 |
| Klasse | P-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode | 61 912.3910 |
| Anzahl der ausgegebenen Aktien | 57.9540 |
| Anzahl der zurückgegebenen Aktien | -10 412.2270 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode | 51 558.1180 |
| Klasse | (EUR hedged) P-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode | 28 147.3500 |
| Anzahl der ausgegebenen Aktien | 514.2320 |
| Anzahl der zurückgegebenen Aktien | -1 956.0070 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode | 26 705.5750 |
| Klasse | Q-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode | 30 170.1640 |
| Anzahl der ausgegebenen Aktien | 0.5040 |
| Anzahl der zurückgegebenen Aktien | -4 360.8520 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode | 25 809.8160 |
| Klasse | (EUR hedged) Q-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode | 30 092.9800 |
| Anzahl der ausgegebenen Aktien | 2 855.8770 |
| Anzahl der zurückgegebenen Aktien | -1 704.0020 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode | 31 244.8550 |
| Klasse | U-X-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode | 1 518.8950 |
| Anzahl der ausgegebenen Aktien | 170.0000 |
| Anzahl der zurückgegebenen Aktien | -142.0150 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode | 1 546.8800 |

UBS (Lux) Equity SICAV – Global Opportunity Unconstrained (USD) Halbjahresbericht per 30. November 2019
| Monatliche Ausschüttung 1 |  |
| --- | --- |
| UBS (Lux) Equity SICAV – Global Opportunity Unconstrained (USD) | Ex-Date | Pay-Date | Währung | Betrag pro Aktie |
| P-4%-mdist | 11.6.2019 | 14.6.2019 | USD | 0.35 |
| P-4%-mdist | 10.7.2019 | 15.7.2019 | USD | 0.38 |
| P-4%-mdist | 12.8.2019 | 16.8.2019 | USD | 0.38 |
| P-4%-mdist | 10.9.2019 | 13.9.2019 | USD | 0.37 |
| P-4%-mdist | 10.10.2019 | 15.10.2019 | USD | 0.36 |
| P-4%-mdist | 11.11.2019 | 14.11.2019 | USD | 0.36 |
| (EUR hedged) P-4%-mdist | 11.6.2019 | 14.6.2019 | EUR | 0.32 |
| (EUR hedged) P-4%-mdist | 10.7.2019 | 15.7.2019 | EUR | 0.35 |
| (EUR hedged) P-4%-mdist | 12.8.2019 | 16.8.2019 | EUR | 0.35 |
| (EUR hedged) P-4%-mdist | 10.9.2019 | 13.9.2019 | EUR | 0.34 |
| (EUR hedged) P-4%-mdist | 10.10.2019 | 15.10.2019 | EUR | 0.33 |
| (EUR hedged) P-4%-mdist | 11.11.2019 | 14.11.2019 | EUR | 0.33 |
| 1  Siehe Erläuterung 5 |  |  |  |  |

UBS (Lux) Equity SICAV – Global Opportunity Unconstrained (USD)
Halbjahresbericht per 30. November 2019

## Aufstellung der Wertpapierbestände und anderer Nettovermögenswerte per 30. November 2019
| Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
| Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden |  |  |  |
| Inhaberaktien |  |  |  |
| Argentinien |  |  |  |
| USD	GEOPARK LIMITED COM USD0.001 | 10 200.00 | 184 212.00 | 0.26 |
| Total Argentinien |  | 184 212.00 | 0.26 |
| Australien |  |  |  |
| AUD	ARISTOCRAT LEISURE NPV | 45 934.00 | 1 053 886.18 | 1.50 |
| Total Australien |  | 1 053 886.18 | 1.50 |
| Kanada |  |  |  |
| CAD	IVANHOE MINES LTD COM NPV CL’A’ | 140 405.00 | 371 030.72 | 0.53 |
| Total Kanada |  | 371 030.72 | 0.53 |
| China |  |  |  |
| HKD	CHINA MEIDONG AUTO HKD0.1 | 466 000.00 | 525 070.42 | 0.75 |
| CNY	HANGZHOU HIKVISION ‘A’CNY1 | 142 300.00 | 636 112.29 | 0.90 |
| HKD	TENCENT HLDGS LIMI HKD0.00002 | 8 440.00 | 357 751.84 | 0.51 |
| HKD	WUXI BIOLOGICS (CA USD0.000025) | 42 500.00 | 480 230.59 | 0.68 |
| HKD	ZHONGSHENG GROUP H HKD0.0001 REG’S | 160 500.00 | 568 985.34 | 0.81 |
| Total China |  | 2 568 150.48 | 3.65 |
| Dänemark |  |  |  |
| DKK	GENMAB AS DKK1 (BEARER) | 3 200.00 | 746 118.88 | 1.06 |
| Total Dänemark |  | 746 118.88 | 1.06 |
| Frankreich |  |  |  |
| EUR	CGG EUR0.01 | 176 445.00 | 463 024.85 | 0.66 |
| Total Frankreich |  | 463 024.85 | 0.66 |
| Deutschland |  |  |  |
| EUR	RWE AG (NEU) NPV | 23 193.00 | 688 158.72 | 0.98 |
| EUR	SERVICEWARE SE NPV | 13 616.00 | 199 432.71 | 0.28 |
| Total Deutschland |  | 887 591.43 | 1.26 |
| Hongkong |  |  |  |
| HKD	AIA GROUP LTD NPV | 91 400.00 | 915 430.36 | 1.30 |
| Total Hongkong |  | 915 430.36 | 1.30 |
| Schweden |  |  |  |
| SEK	LUNDIN PETROLEUM A NPV | 33 994.00 | 1 048 356.83 | 1.49 |
| Total Schweden |  | 1 048 356.83 | 1.49 |
| Vereinigte Staaten |  |  |  |
| USD	ALPHABET INC CAP STK USD0.001 CL C | 1 158.00 | 1 511 143.68 | 2.15 |
| USD	COCA-COLA CO COM USD0.25 | 16 646.00 | 888 896.40 | 1.26 |
| USD	EDWARDS LIFESCIENCES CORP COM | 4 722.00 | 1 156 606.68 | 1.64 |
| USD	EPAM SYS INC COM USD0.001 | 3 864.00 | 818 588.40 | 1.16 |
| USD	JP MORGAN CHASE & COM USD1 | 13 515.00 | 1 780 736.40 | 2.53 |
| USD	MARSH & MCLENNAN COM USD1 | 8 070.00 | 872 124.90 | 1.24 |
| USD	NEXTERA ENERGY INC COM USD0.01 | 6 895.00 | 1 612 188.90 | 2.29 |
| USD	PAYCOM SOFTWARE IN COM USD0.01 | 3 671.00 | 1 016 169.51 | 1.45 |
| USD	SHERWIN-WILLIAMS COM USD1 | 1 805.00 | 1 052 549.65 | 1.50 |
| USD	VEEVA SYSTEMS INC COM USD0.00001 CL ‘A’ | 6 039.00 | 900 898.02 | 1.28 |
| USD	ZOETIS INC COM USD0.01 CL ‘A’ | 12 511.00 | 1 507 825.72 | 2.14 |
| Total Vereinigte Staaten |  | 13 117 728.26 | 18.64 |
| Total Inhaberaktien |  | 21 355 529.99 | 30.35 |
| Namensaktien |  |  |  |
| Irland |  |  |  |
| USD	ACCENTURE PLC SHS CL A ‘NEW’ | 6 028.00 | 1 212 592.48 | 1.72 |
| EUR	CRH ORD EUR0.32 | 29 778.00 | 1 140 297.83 | 1.62 |
| Total Irland |  | 2 352 890.31 | 3.34 |
| Japan |  |  |  |
| JPY	NIPPON TEL&TEL CP NPV | 22 200.00 | 1 120 440.14 | 1.59 |
| JPY	SOFTBANK GROUP CO NPV | 28 400.00 | 1 102 960.45 | 1.57 |
| JPY	SONY CORP NPV | 18 000.00 | 1 134 800.47 | 1.61 |
| JPY	TOKIO MARINE HLDG NPV | 20 500.00 | 1 114 199.61 | 1.59 |
| JPY	TOYOTA MOTOR CORP NPV | 11 800.00 | 823 015.24 | 1.17 |
| JPY	WEST JAPAN RAILWAY NPV | 10 100.00 | 888 811.06 | 1.26 |
| Total Japan |  | 6 184 226.97 | 8.79 |
| Vereinigte Staaten |  |  |  |
| USD	ADOBE INC COM USD0.0001 | 3 337.00 | 1 032 901.61 | 1.47 |
| USD	AIR PRODS & CHEMS COM USD1 | 3 379.00 | 798 559.07 | 1.13 |
| USD	AMAZON COM INC COM USD0.01 | 1 022.00 | 1 840 417.60 | 2.62 |
| USD	AMER EXPRESS CO COM USD0.20 | 13 019.00 | 1 563 842.28 | 2.22 |

UBS (Lux) Equity SICAV – Global Opportunity Unconstrained (USD) Halbjahresbericht per 30. November 2019
|  | Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
|  |  |  |  |  |
| USD | AMER INTL GRP COM USD2.50 | 11 758.00 | 619 176.28 | 0.88 |
| USD | ANTHEM INC COM USD0.01 | 2 238.00 | 646 021.08 | 0.92 |
| USD | AUTO DATA PROCESS COM USD0.10 | 8 525.00 | 1 455 899.50 | 2.07 |
| USD | BROADCOM CORP COM USD1.00 | 2 142.00 | 677 321.82 | 0.96 |
| USD | CITIGROUP INC COM USD0.01 | 14 460.00 | 1 086 235.20 | 1.54 |
| USD | COMCAST CORP COM CLS’A’ USD0.01 | 24 362.00 | 1 075 582.30 | 1.53 |
| USD | DANAHER CORP COM USD0.01 | 5 624.00 | 820 991.52 | 1.17 |
| USD | DOLLAR TREE INC | 4 193.00 | 383 491.78 | 0.55 |
| USD | EVERSOURCE ENERGY COM USD5 | 10 248.00 | 846 894.72 | 1.20 |
| USD | FACEBOOK INC COM USD0.000006 CL ‘A’ | 6 598.00 | 1 330 420.72 | 1.89 |
| USD | GLOBAL PAYMENTS COM NPV | 10 236.00 | 1 853 739.60 | 2.63 |
| USD | HESS CORPORATION COM USD1 | 10 017.00 | 621 955.53 | 0.88 |
| USD | HOME DEPOT INC COM USD0.05 | 5 415.00 | 1 194 061.65 | 1.70 |
| USD | KOSMOS ENERGY LTD COM USD0.01 | 82 108.00 | 490 184.76 | 0.70 |
| USD | MASTERCARD INC COM USD0.0001 CLASS ‘A’ | 10 340.00 | 3 021 658.20 | 4.29 |
| USD | MEDTRONIC PLC USD0.0001 | 12 000.00 | 1 336 680.00 | 1.90 |
| USD | MICROSOFT CORP COM USD0.0000125 | 33 103.00 | 5 011 132.14 | 7.12 |
| USD | THERMO FISHER SCIE COM USD1 | 5 249.00 | 1 647 923.55 | 2.34 |
| USD | TJX COS INC COM USD1 | 18 296.00 | 1 118 434.48 | 1.59 |
| USD | VISA INC COM STK USD0.0001 | 8 029.00 | 1 481 430.79 | 2.11 |
| USD | WALMART INC COM USD0.10 | 9 401.00 | 1 119 565.09 | 1.59 |
| USD | YUM BRANDS INC COM | 10 974.00 | 1 104 752.58 | 1.57 |
| Total Vereinigte Staaten |  | 34 179 273.85 | 48.57 |
| Total Namensaktien |  | 42 716 391.13 | 60.70 |
| Depository Receipts |  |  |  |
| China |  |  |  |
| USD	ALIBABA GROUP HLDG SPON ADS EACH REP ONE ORD-ADR | 9 287.00 | 1 857 400.00 | 2.64 |
| USD	BAIDU INC ADS EACH REPR 10 ORD CLS’A | 2 850.00 | 337 810.50 | 0.48 |
| USD	TAL EDUCATION GRP ADS EA REPR 2 CL A ORD SHS | 10 400.00 | 460 304.00 | 0.65 |
| Total China |  | 2 655 514.50 | 3.77 |
| Niederlande |  |  |  |
| USD	PROSUS N.V. SPON ADR EACH REP 1 ORD SHS | 13 982.00 | 190 434.84 | 0.27 |
| Total Niederlande |  | 190 434.84 | 0.27 |
| Südafrika |  |  |  |
| USD	NASPERS SPON ADR EACH REP 0.2 ORD | 29 600.00 | 843 304.00 | 1.20 |
| Total Südafrika |  | 843 304.00 | 1.20 |
| Total Depository Receipts |  | 3 689 253.34 | 5.24 |
| Total Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden |  | 67 761 174.46 | 96.29 |
| Total des Wertpapierbestandes |  | 67 761 174.46 | 96.29 |


## Derivative Instrumente
Derivative Instrumente, die nicht an einer offiziellen Börse oder einem anderen geregelten Markt gehandelt werden
Synthetic Equity Swaps*
| EUR | GOLDMAN SACHS/SIEMENS GAMESA (SYNTHETIC EQUITY SWAP) | -33 795.00 | -63 046.41 | -0.09 |
| --- | --- | --- | --- | --- |
| GBP | GOLDMAN SACHS/NEXT PLC (SYNTHETIC EQUITY SWAP) | 2 355.00 | 5 361.30 | 0.01 |
| GBP | GOLDMAN SACHS/RECKITT BENCKISER GRP (SYNTHETIC EQUITY SWAP) | 10 503.00 | 13 857.34 | 0.02 |
| GBP | GOLDMAN SACHS/WPP PLC (SYNTHETIC EQUITY SWAP) | -17 036.00 | -8 219.46 | -0.01 |
| GBP | GOLDMAN SACHS/MARKS & SPENCER (SYNTHETIC EQUITY SWAP) | -216 873.00 | -36 605.74 | -0.05 |
| USD | GOLDMAN SACHS/HUTCHISON PORT HL NPV(SYNTHETIC EQUITY SWAP) | -2 554 800.00 | -7 664.40 | -0.01 |
| GBP | GOLDMAN SACHS/ASTRAZENECA ORD (SYNTHETIC EQUITY SWAP) | 16 910.00 | -9 405.43 | -0.01 |
| USD | GOLDMAN SACHS/TESLA MOTORS INC COM(SYNTHETIC EQUITY SWAP) | -1 062.00 | 7 706.08 | 0.01 |
| EUR | GOLDMAN SACHS/FUGRO NV (SYNTHETIC EQUITY SWAP) | -32 067.00 | -15 839.97 | -0.02 |
| EUR | GOLDMAN SACHS/OUTOKUMPU OYJ (SYNTHETIC EQUITY SWAP) | -95 359.00 | 13 979.80 | 0.02 |
| USD | GOLDMAN SACHS/TRANSOCEAN LTD (SYNTHETIC EQUITY SWAP) | -55 990.00 | -3 384.17 | 0.00 |
| EUR | GOLDMAN SACHS/SAFRAN(SYNTHETIC EQUITY SWAP) | 9 408.00 | 68 463.52 | 0.10 |
| CHF | GOLDMAN SACHS/DUFRY AG(SYNTHETIC EQUITY SWAP) | -7 791.00 | -93 552.81 | -0.13 |
| CHF | GOLDMAN SACHS/NOVARTIS AG (SYNTHETIC EQUITY SWAP) | 15 665.00 | 93 580.88 | 0.13 |
| CHF | GOLDMAN SACHS/NESTLE SA(SYNTHETIC EQUITY SWAP) | 15 822.00 | -21 512.22 | -0.03 |
| USD | GOLDMAN SACHS/GAP INC DEL COM(SYNTHETIC EQUITY SWAP) | -8 053.00 | -2 818.55 | 0.00 |
| EUR | GOLDMAN SACHS/PERNOD RICARD(SYNTHETIC EQUITY SWAP) | 6 950.00 | 8 263.95 | 0.01 |
| EUR | GOLDMAN SACHS/GROUPE DANONE ORD (SYNTHETIC EQUITY SWAP) | 15 481.00 | 6 593.15 | 0.01 |
| USD | GOLDMAN SACHS/ZAYO GROUP HOLDING COM(SYNTHETIC EQUITY SWAP) | -14 814.00 | -1 481.40 | 0.00 |
| USD | GOLDMAN SACHS/MATTEL INC COM(SYNTHETIC EQUITY SWAP) | -20 109.00 | 4 826.16 | 0.01 |
| EUR | GOLDMAN SACHS/DEUTSCHE BANK AG-REG (SYNTHETIC EQUITY SWAP) | -53 725.00 | -2 961.86 | 0.00 |
| EUR | GOLDMAN SACHS/LVMH MOET HENNESSY (SYNTHETIC EQUITY SWAP) | 2 388.00 | 56 328.87 | 0.08 |
| GBP | GOLDMAN SACHS/SOUTH32 LTD NPV(SYNTHETIC EQUITY SWAP) | -140 055.00 | -8 587.04 | -0.01 |
| EUR | GOLDMAN SACHS/SAMPO OYJ SER’A’ (SYNTHETIC EQUITY SWAP) | 36 568.00 | -1 612.80 | 0.00 |
| DKK | GOLDMAN SACHS/VESTAS WIND SYSTEM(SYNTHETIC EQUITY SWAP) | -1 983.00 | -28 853.64 | -0.04 |
| EUR | GOLDMAN SACHS/MONCLER SPA NPV (SYNTHETIC EQUITY SWAP) | 17 402.00 | 100 350.34 | 0.14 |
| GBP | GOLDMAN SACHS/ITV ORD (SYNTHETIC EQUITY SWAP) | -183 478.00 | -29 072.78 | -0.04 |
| EUR | GOLDMAN SACHS/VARTA AG (SYNTHETIC EQUITY SWAP) | 6 865.00 | 112 026.37 | 0.16 |
| JPY | GOLDMAN SACHS/KEYENCE CORP NPV(SYNTHETIC EQUITY SWAP) | 840.00 | 23 241.70 | 0.03 |
| JPY | GOLDMAN SACHS/HITACHI NPV(SYNTHETIC EQUITY SWAP) | 32 600.00 | 68 766.32 | 0.10 |

* Nominal positiv: der Subfonds ist «Receiver», Nominal negativ: der Subfonds ist «Payer».
UBS (Lux) Equity SICAV – Global Opportunity Unconstrained (USD)
Halbjahresbericht per 30. November 2019
|  | Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
|  |  |  |  |  |
| USD | GOLDMAN SACHS/SNAP-ON INC COM (SYNTHETIC EQUITY SWAP) | -2 947.00 | 6 433.01 | 0.01 |
| JPY | GOLDMAN SACHS/SEVEN BANK NPV(SYNTHETIC EQUITY SWAP) | -47 600.00 | -10 431.92 | -0.01 |
| USD | GOLDMAN SACHS/KRATOS DEFENSE (SYNTHETIC EQUITY SWAP) | -19 789.00 | 7 901.10 | 0.01 |
| DKK | GOLDMAN SACHS/ISS A/S (SYNTHETIC EQUITY SWAP) | -20 018.00 | 49 663.67 | 0.07 |
| GBP | GOLDMAN SACHS/BP ORD (SYNTHETIC EQUITY SWAP) | 233 492.00 | -27 483.99 | -0.04 |
| EUR | GOLDMAN SACHS/SCHNEIDER ELECTRIC (SYNTHETIC EQUITY SWAP) | 12 125.00 | 58 021.57 | 0.08 |
| EUR | GOLDMAN SACHS/CASINO GUICH-PERR (SYNTHETIC EQUITY SWAP) | -6 741.00 | 62 657.04 | 0.09 |
| USD | GOLDMAN SACHS/GTT COMMUNICATIONS COM (SYNTHETIC EQUITY SWAP) | -7 587.00 | -10 166.58 | -0.01 |
| GBP | GOLDMAN SACHS/BEAZLEY PLC (SYNTHETIC EQUITY SWAP) | 21 725.00 | -15 315.21 | -0.02 |
| USD | GOLDMAN SACHS/AUTODESK INC COM (SYNTHETIC EQUITY SWAP) | -2 349.00 | -78 785.46 | -0.11 |
| HKD | GOLDMAN SACHS/CANVEST ENVIRONMENT(SYNTHETIC EQUITY SWAP) | -554 000.00 | -7 785.12 | -0.01 |
| USD | GOLDMAN SACHS/FRANKS INTERNATIONAL(SYNTHETIC EQUITY SWAP) | -60 482.00 | -12 096.40 | -0.02 |
| USD | GOLDMAN SACHS/MACY’S INC (SYNTHETIC EQUITY SWAP) | -14 734.00 | -2 357.44 | 0.00 |
| USD | GOLDMAN SACHS/HANESBRANDS INC COM (SYNTHETIC EQUITY SWAP) | -32 975.00 | 1 183.76 | 0.00 |
| USD | GOLDMAN SACHS/ABBVIE INC (SYNTHETIC EQUITY SWAP) | -2 276.00 | -18 617.68 | -0.03 |
| USD | GOLDMAN SACHS/NEWOCEAN ENERGY HL (SYNTHETIC EQUITY SWAP) | -892 000.00 | 15 809.62 | 0.02 |
| USD | GOLDMAN SACHS/ASCENA RETAIL GRP COM (SYNTHETIC EQUITY SWAP) | -88 322.00 | -8 699.72 | -0.01 |
| USD | GOLDMAN SACHS/SAMSUNG HEAVY (SYNTHETIC EQUITY SWAP) | -49 339.00 | 16 734.44 | 0.02 |
| EUR | GOLDMAN SACHS/KERING(SYNTHETIC EQUITY SWAP) | 1 103.00 | 44 390.12 | 0.06 |
| SEK | GOLDMAN SACHS/BILLERUDKORSNAS AB NPV (SYNTHETIC EQUITY SWAP) | -39 121.00 | 27 995.68 | 0.04 |
| HKD | GOLDMAN SACHS/361 DEGREES INTERN (SYNTHETIC EQUITY SWAP) | -905 000.00 | 21 966.72 | 0.03 |
| EUR | GOLDMAN SACHS/AIR LIQUIDE POST-SUB (SYNTHETIC EQUITY SWAP) | 5 768.00 | 25 121.20 | 0.03 |
| USD | GOLDMAN SACHS/MACERICH CO COM (SYNTHETIC EQUITY SWAP) | -19 800.00 | 15 286.56 | 0.02 |
| USD | GOLDMAN SACHS/WAYFAIR INC COM(SYNTHETIC EQUITY SWAP) | -2 947.00 | -7 927.43 | -0.01 |
| HKD | GOLDMAN SACHS/XIAOMI CORPORATION (SYNTHETIC EQUITY SWAP) | -163 200.00 | -1 042.45 | 0.00 |
| EUR | GOLDMAN SACHS/EUTELSAT COMMUNICA (SYNTHETIC EQUITY SWAP) | -17 134.00 | 39 862.01 | 0.06 |
| EUR | GOLDMAN SACHS/AXA (SYNTHETIC EQUITY SWAP) | 29 625.00 | 32 991.17 | 0.05 |
| USD | GOLDMAN SACHS/IQIYI INC SPON EACH AD (SYNTHETIC EQUITY SWAP) | -15 700.00 | -25 292.80 | -0.05 |
| USD | GOLDMAN SACHS/KROGER CO COM (SYNTHETIC EQUITY SWAP) | -9 388.00 | -19 021.40 | -0.03 |
| USD | GOLDMAN SACHS/URBAN OUTFITTERS INC COM (SYNTHETIC EQUITY SWAP) | -6 292.00 | 19 127.68 | 0.03 |
| USD | GOLDMAN SACHS/UNDER ARMOUR INC (SYNTHETIC EQUITY SWAP) | -13 419.00 | 23 617.44 | 0.03 |
| CAD | GOLDMAN SACHS/IMPERIAL OIL LTD COM (SYNTHETIC EQUITY SWAP) | -10 100.00 | -3 497.84 | 0.00 |
| USD | GOLDMAN SACHS/CANADA GOOSE HLDGS COM (SYNTHETIC EQUITY SWAP) | -5 118.00 | 18 834.24 | 0.03 |
| EUR | GOLDMAN SACHS/KNORR BREMSE (SYNTHETIC EQUITY SWAP) | -3 351.00 | 6 507.03 | 0.01 |
| USD | GOLDMAN SACHS/WILEY(JOHN) & SONS CLASS’A’COM (SYNTHETIC EQUITY SWAP) | -7 554.00 | -8 989.26 | -0.01 |
| EUR | GOLDMAN SACH/KONINKLIJKE PHILIPS (SYNTHETIC EQUITY SWAP) | 21 168.00 | 67 102.03 | 0.09 |
| EUR | GOLDMAN SACHS/FUCHS PETROLUB SE NON-VTG PRF NP (SYNTHETIC EQUITY SWAP) | -6 849.00 | -6 947.57 | -0.01 |
| GBP | GOLDMAN SACHS/SOFTCAT PLC ORD (SYNTHETIC EQUITY SWAP) | 37 086.00 | 58 681.18 | 0.08 |
| DKK | GOLDMAN SACHS/H.LUNDBECK (SYNTHETIC EQUITY SWAP) | -7 721.00 | -35 663.08 | -0.05 |
| USD | GOLDMAN SACHS/8X8 INC NEW COM (SYNTHETIC EQUITY SWAP) | -24 397.00 | -29 276.40 | -0.04 |
| EUR | GOLDMAN SACHS/HAPAG-LLOYD AG (SYNTHETIC EQUITY SWAP) | -4 028.00 | -35 530.18 | -0.05 |
| USD | GOLDMAN SACHS/SLACK TECHNOLOGIES (SYNTHETIC EQUITY SWAP) | -13 130.00 | -10 766.60 | -0.03 |
| USD | GOLDMAN SACHS/FASTENAL COM (SYNTHETIC EQUITY SWAP) | -13 273.00 | 5 574.66 | 0.01 |
| USD | GOLDMAN SACHS/OMNICOM GROUP INC COM (SYNTHETIC EQUITY SWAP) | -7 879.00 | -12 290.74 | -0.02 |
| GBP | GOLDMAN SACHS/GREGGS ORD (SYNTHETIC EQUITY SWAP) | -13 909.00 | -55 053.35 | -0.08 |
| EUR | GOLDMAN SACHS/ZOOPLUS AG NPV (SYNTHETIC EQUITY SWAP) | -1 743.00 | 15 566.84 | 0.02 |
| USD | GOLDMAN SACHS/BED BATH & BEYOND INC COM (SYNTHETIC EQUITY SWAP) | -25 942.00 | -21 347.63 | -0.03 |
| EUR | GOLDMAN SACHS/ARCELORMITTAL NPV (SYNTHETIC EQUITY SWAP) | -21 886.00 | -55 454.20 | -0.08 |
| USD | GOLDMAN SACHS/CLOROX CO DEL COM (SYNTHETIC EQUITY SWAP) | -3 878.00 | -1 927.83 | 0.00 |
| USD | GOLDMAN SACHS/CHEWY INC (SYNTHETIC EQUITY SWAP) | -15 705.00 | -35 421.06 | -0.05 |
| USD | GOLDMAN SACHS/SMUCKER(JM)CO COM NPV (SYNTHETIC EQUITY SWAP) | -3 264.00 | 1 401.89 | 0.00 |
| EUR | GOLDMAN SACHS/LEGRAND SA (SYNTHETIC EQUITY SWAP) | 8 895.00 | -4 740.02 | -0.01 |
| USD | GOLDMAN SACHS/PENNEY J C INC COM (SYNTHETIC EQUITY SWAP) | -301 864.00 | -4 286.47 | -0.01 |
| Total Synthetic Equity Swaps | 324 941.93 | 0.46 |
| Total Derivative Instrumente, die nicht an einer offiziellen Börse oder einem anderen geregelten Markt gehandelt werden | 324 941.93 | 0.46 |
| Total Derivative Instrumente | 324 941.93 | 0.46 |
| Devisenterminkontrakte |  |  |
| Devisenterminkontrakte (Kauf/Verkauf) |  |  |

| JPY | 287 900 000.00 | USD | 2 657 389.65 | 14.1.2020 | -19 296.44 | -0.03 |
| --- | --- | --- | --- | --- | --- | --- |
| EUR | 4 510 000.00 | USD | 5 011 300.03 | 14.1.2020 | -22 461.05 | -0.03 |
| USD | 1 026 529.21 | ZAR | 15 230 000.00 | 14.1.2020 | -6 615.15 | -0.01 |
| GBP | 2 765 000.00 | USD | 3 588 029.90 | 14.1.2020 | -5 182.80 | -0.01 |
| EUR | 7 695 400.00 | USD | 8 550 151.16 | 14.1.2020 | -37 709.58 | -0.05 |
| EUR | 120 600.00 | USD | 134 130.11 | 14.1.2020 | -725.68 | 0.00 |
| Total Devisenterminkontrakte (Kauf/Verkauf) | -91 990.70 | -0.13 |
| Bankguthaben, Sicht- und Fristgelder und andere liquide Mittel | 2 269 563.55* | 3.22 |
| Kontokorrentkredit und andere kurzfristige Verbindlichkeiten | -7 001.74 | -0.01 |
| Andere Aktiva und Passiva | 118 517.47 | 0.17 |
| Total des Nettovermögens | 70 375 204.97 | 100.00 |
| * Zum 30. November 2019 wurden gegenüber Goldman Sachs Bankguthaben in Höhe von USD 370 000.00 als Sicherheit eingesetzt. |  |  |

UBS (Lux) Equity SICAV – Global Opportunity Unconstrained (USD) Halbjahresbericht per 30. November 2019