# Unaudited semi-annual report as of 31 May 2022
| Table of contents | Page |  | ISIN |
| --- | --- | --- | --- |
| Management and Administration | 3 |  |  |
| Features of the Fund | 5 |  |  |
| UBS (Lux) Equity Fund | 11 |  |  |
| UBS (Lux) Equity Fund – Biotech (USD) UBS (Lux) Equity Fund – China Opportunity (USD) | 13 17 | P-acc (SEK) P-acc Q-acc QL-acc F-acc | LU0069152568 LU1991432631 LU0400035332 LU2208649280 LU0403295958 |
| UBS (Lux) Equity Fund |  | I-A1-acc (EUR) I-A1-acc I-A2-acc I-A3-acc (EUR) I-A3-dist I-B-acc (EUR) I-B-acc I-X-acc K-1-acc (HKD) K-1-acc K-X-acc P-acc (AUD hedged) P-acc (EUR) P-acc (EUR hedged) P-acc (HKD) P-acc (RMB hedged) P-acc (SEK) P-acc (SGD) P-acc P-mdist (AUD hedged) P-mdist (HKD) P-mdist Q-acc (EUR) Q-acc (EUR hedged) Q-acc (HKD) Q-acc (RMB hedged) Q-acc (SGD) Q-acc U-X-acc | LU1017642064 LU2084644850 LU2059874102 LU1951186714 LU2258404156 LU1751696524 LU1732805723 LU2310059436 LU0403295446 LU1097938507 LU1860987491 LU0067412154 LU1227825731 LU2131365186 LU2000522420 LU1008478684 LU1115430461 LU1620846664 LU0880133367 LU1152091168 LU1230129766 LU1152091754 LU0403296170 LU1923635863 LU2191389209 LU1240779154 LU1240779311 LU1240779584 LU2227887226 |
| – Emerging Markets Sustainable Leaders (USD) UBS (Lux) Equity Fund | 26 | I-B-acc (CHF) I-X-acc K-B-acc (EUR) N-acc P-acc (CHF hedged) P-acc (SGD) P-acc Q-acc (CHF hedged) Q-acc | LU0400030887 LU2459597451 LU2340118129 LU0577512071 LU0106959298 LU0763732723 LU0443062806 LU0400029954 LU1240778859 |
| – Euro Countries Opportunity Sustainable (EUR) UBS (Lux) Equity Fund | 31 | I-A1-acc I-A3-acc I-B-acc I-X-acc P-acc Q-acc U-X-acc | LU0401310601 LU2450200667 LU0401311328 LU0401311674 LU0085870433 LU0401310437 LU0401311831 |
| – European Opportunity Sustainable (EUR) | 36 | I-A1-acc I-A2-acc I-A3-acc I-X-acc K-B-acc P-acc (USD hedged) P-acc Q-acc (USD hedged) Q-acc U-X-acc | LU0401336408 LU0401337042 LU1202188246 LU0401338529 LU2282402812 LU0006391097 LU0964806797 LU0358043668 LU1240779741 LU0401339337 |

| UBS (Lux) Equity Fund – Global Sustainable (USD) UBS (Lux) Equity Fund – Global Sustainable Improvers (USD) | 42 50 | I-A1-acc I-A2-acc (EUR) I-A3-acc I-B-acc (EUR) I-B-acc (JPY hedged) I-B-acc I-X-acc (CAD) I-X-acc P-acc (EUR hedged) P-acc (EUR) P-dist Q-acc (EUR) Q-acc U-X-acc P-acc | LU0401295539 LU2035667513 LU2422547757 LU2212341031 LU0401299366 LU1807254583 LU1363474898 LU1043178554 LU0076532638 LU2000521885 LU0401296933 LU1240780160 LU1902337663 LU2038037458 LU2388907649 |
| --- | --- | --- | --- |
| UBS (Lux) Equity Fund – Greater China (USD) | 55 | Q-acc U-X-acc F-acc | LU2388907722 LU2391792749 LU0403290058 |
| UBS (Lux) Equity Fund – Japan (JPY) | 61 | I-A1-acc I-A2-acc I-A3-acc I-X-acc (EUR) N-acc P-acc (CHF hedged) P-acc (EUR hedged) P-acc (SGD) P-acc Q-acc (CHF hedged) Q-acc (EUR hedged) Q-acc I-A1-acc | LU0403290488 LU0403290645 LU2059875505 LU0403291452 LU0577510026 LU0072913022 LU0763739066 LU0763739140 LU0501845795 LU0403290215 LU1240780590 LU1240780673 LU0403304966 |
| UBS (Lux) Equity Fund – Mid Caps Europe Sustainable (EUR) | 65 | I-B-acc P-acc Q-acc I-B-acc | LU0403305690 LU0098994485 LU0403304701 LU0403311318 |
| UBS (Lux) Equity Fund – Mid Caps USA (USD) | 70 | P-acc Q-acc I-B-acc | LU0049842692 LU0403310344 LU0403314254 |
| UBS (Lux) Equity Fund – Small Caps USA (USD) | 74 | (CHF hedged) I-B-acc P-acc (CHF hedged) P-acc Q-acc (CHF hedged) Q-acc U-X-acc F-acc | LU2220381201 LU0049842262 LU0781589055 LU0358044807 LU1240780913 LU0403314684 LU0404627084 |
| UBS (Lux) Equity Fund |  | I-B-acc P-acc Q-acc U-X-acc | LU2245806570 LU0038842364 LU0404627241 LU2227885360 |
| – Sustainable Health Transformation (USD) UBS (Lux) Equity Fund – Tech Opportunity (USD) | 79 84 | F-acc P-acc (CHF hedged) P-acc (EUR hedged) P-acc Q-acc (CHF hedged) Q-acc (EUR hedged) Q-acc P-acc | LU2418149048 LU0085953304 LU2402148493 LU2402148576 LU0358044559 LU2402148659 LU2402148733 LU0081259029 |
| UBS (Lux) Equity Fund – US Sustainable (USD) | 88 | (CHF hedged) P-acc (EUR hedged) P-acc Q-acc (CHF hedged) Q-acc (EUR hedged) Q-acc P-acc | LU0855184452 LU0804734787 LU0404636747 LU1240779824 LU0979667374 LU0098995292 |
|  |  | Q-acc | LU0358044989 |
| Notes to the Financial Statements | 92 |  |  |
| Appendix 1 – Collateral – Securities Lending (unaudited) Appendix 2 – Securities Financing Transaction Regulation (SFTR) (unaudited) | 104 107 |  |  |

Sales restrictions
Units of this Fund may not be offered, sold or distributed within the United States of America.
Internet address
www.ubs.com/funds

Translation (ENFR, 2022-05-31):
# Rapport semestriel non révisé au 31 mai 2022
| Sommaire | Page |  | ISIN |
| --- | --- | --- | --- |
| Gestion et administration | 3 |  |  |
| Caractéristiques du Fonds | 5 |  |  |
| UBS (Lux) Equity Fund | 12 |  |  |
| UBS (Lux) Equity Fund – Biotech (USD) UBS (Lux) Equity Fund – China Opportunity (USD) | 14 18 | P-acc (SEK) P-acc Q-acc QL-acc F-acc | LU0069152568 LU1991432631 LU0400035332 LU2208649280 LU0403295958 |
| UBS (Lux) Equity Fund |  | I-A1-acc (EUR) I-A1-acc I-A2-acc I-A3-acc (EUR) I-A3-dist I-B-acc (EUR) I-B-acc I-X-acc K-1-acc (HKD) K-1-acc K-X-acc P-acc (AUD hedged) P-acc (EUR) P-acc (EUR hedged) P-acc (HKD) P-acc (RMB hedged) P-acc (SEK) P-acc (SGD) P-acc P-mdist (AUD hedged) P-mdist (HKD) P-mdist Q-acc (EUR) Q-acc (EUR hedged) Q-acc (HKD) Q-acc (RMB hedged) Q-acc (SGD) Q-acc U-X-acc | LU1017642064 LU2084644850 LU2059874102 LU1951186714 LU2258404156 LU1751696524 LU1732805723 LU2310059436 LU0403295446 LU1097938507 LU1860987491 LU0067412154 LU1227825731 LU2131365186 LU2000522420 LU1008478684 LU1115430461 LU1620846664 LU0880133367 LU1152091168 LU1230129766 LU1152091754 LU0403296170 LU1923635863 LU2191389209 LU1240779154 LU1240779311 LU1240779584 LU2227887226 |
| – Emerging Markets Sustainable Leaders (USD) UBS (Lux) Equity Fund | 27 | I-B-acc (CHF) I-X-acc K-B-acc (EUR) N-acc P-acc (CHF hedged) P-acc (SGD) P-acc Q-acc (CHF hedged) Q-acc | LU0400030887 LU2459597451 LU2340118129 LU0577512071 LU0106959298 LU0763732723 LU0443062806 LU0400029954 LU1240778859 |
| – Euro Countries Opportunity Sustainable (EUR) UBS (Lux) Equity Fund | 32 | I-A1-acc I-A3-acc I-B-acc I-X-acc P-acc Q-acc U-X-acc | LU0401310601 LU2450200667 LU0401311328 LU0401311674 LU0085870433 LU0401310437 LU0401311831 |
| – European Opportunity Sustainable (EUR) | 37 | I-A1-acc I-A2-acc I-A3-acc I-X-acc K-B-acc P-acc (USD hedged) P-acc Q-acc (USD hedged) Q-acc U-X-acc | LU0401336408 LU0401337042 LU1202188246 LU0401338529 LU2282402812 LU0006391097 LU0964806797 LU0358043668 LU1240779741 LU0401339337 |

| UBS (Lux) Equity Fund – Global Sustainable (USD) UBS (Lux) Equity Fund – Global Sustainable Improvers (USD) | 43 51 | I-A1-acc I-A2-acc (EUR) I-A3-acc I-B-acc (EUR) I-B-acc (JPY hedged) I-B-acc I-X-acc (CAD) I-X-acc P-acc (EUR hedged) P-acc (EUR) P-dist Q-acc (EUR) Q-acc U-X-acc P-acc | LU0401295539 LU2035667513 LU2422547757 LU2212341031 LU0401299366 LU1807254583 LU1363474898 LU1043178554 LU0076532638 LU2000521885 LU0401296933 LU1240780160 LU1902337663 LU2038037458 LU2388907649 |
| --- | --- | --- | --- |
| UBS (Lux) Equity Fund – Greater China (USD) | 56 | Q-acc U-X-acc F-acc | LU2388907722 LU2391792749 LU0403290058 |
| UBS (Lux) Equity Fund – Japan (JPY) | 62 | I-A1-acc I-A2-acc I-A3-acc I-X-acc (EUR) N-acc P-acc (CHF hedged) P-acc (EUR hedged) P-acc (SGD) P-acc Q-acc (CHF hedged) Q-acc (EUR hedged) Q-acc I-A1-acc | LU0403290488 LU0403290645 LU2059875505 LU0403291452 LU0577510026 LU0072913022 LU0763739066 LU0763739140 LU0501845795 LU0403290215 LU1240780590 LU1240780673 LU0403304966 |
| UBS (Lux) Equity Fund – Mid Caps Europe Sustainable (EUR) | 66 | I-B-acc P-acc Q-acc I-B-acc | LU0403305690 LU0098994485 LU0403304701 LU0403311318 |
| UBS (Lux) Equity Fund – Mid Caps USA (USD) | 71 | P-acc Q-acc I-B-acc | LU0049842692 LU0403310344 LU0403314254 |
| UBS (Lux) Equity Fund – Small Caps USA (USD) | 75 | (CHF hedged) I-B-acc P-acc (CHF hedged) P-acc Q-acc (CHF hedged) Q-acc U-X-acc F-acc | LU2220381201 LU0049842262 LU0781589055 LU0358044807 LU1240780913 LU0403314684 LU0404627084 |
| UBS (Lux) Equity Fund |  | I-B-acc P-acc Q-acc U-X-acc | LU2245806570 LU0038842364 LU0404627241 LU2227885360 |
| – Sustainable Health Transformation (USD) UBS (Lux) Equity Fund – Tech Opportunity (USD) | 80 85 | F-acc P-acc (CHF hedged) P-acc (EUR hedged) P-acc Q-acc (CHF hedged) Q-acc (EUR hedged) Q-acc P-acc | LU2418149048 LU0085953304 LU2402148493 LU2402148576 LU0358044559 LU2402148659 LU2402148733 LU0081259029 |
| UBS (Lux) Equity Fund – US Sustainable (USD) | 89 | (CHF hedged) P-acc (EUR hedged) P-acc Q-acc (CHF hedged) Q-acc (EUR hedged) Q-acc P-acc | LU0855184452 LU0804734787 LU0404636747 LU1240779824 LU0979667374 LU0098995292 |
|  |  | Q-acc | LU0358044989 |
| Notes aux états financiers | 93 |  |  |
| Annexe 1 – Garanties – Prêts de titres (non audité) Annexe 2 – Transparence des opérations de financement sur titres et de la réutilisation (SFTR) (non audité) | 107 110 |  |  |
| Restrictions de vente Les parts de ce Fonds ne peuvent être offertes, vendues ou livrées sur le territoire des Etats-Unis d’Amérique. |  |  |  |

Adresse Internet
www.ubs.com/funds