# UBS (Lux) SICAV 2 – EUR Corporate Bond Sustainable (EUR)
| Most important figures |  |
| --- | --- |
|  | ISIN | 30.4.2020 | 31.10.2019 | 31.10.2018 |
| Net assets in EUR |  | 34 516 766.34 | 39 549 170.69 | 41 501 626.91 |
| Class P-acc | LU0224519792 |  |  |  |
| Shares outstanding |  | 263 008.2000 | 292 287.0650 | 326 364.4420 |
| Net asset value per share in EUR |  | 129.73 | 134.24 | 126.60 |
| Issue and redemption price per share in EUR 1 |  | 129.73 | 134.24 | 126.60 |
| Class Q-acc | LU0417377784 |  |  |  |
| Shares outstanding |  | 3 779.2500 | 2 885.5750 | 1 801.2370 |
| Net asset value per share in EUR |  | 105.23 | 108.82 | 102.11 |
| Issue and redemption price per share in EUR 1 |  | 105.23 | 108.82 | 102.11 |
| 1  See note 1 |  |  |  |  |


### Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
| France | 19.56 |
| --- | --- |
| The Netherlands | 17.14 |
| United States | 13.80 |
| United Kingdom | 11.78 |
| Germany | 8.25 |
| Luxembourg | 7.08 |
| Ireland | 3.46 |
| Australia | 2.95 |
| Spain | 2.58 |
| Switzerland | 2.09 |
| Italy | 2.04 |
| Finland | 1.80 |
| Japan | 1.72 |
| Belgium | 0.68 |
| Sweden | 0.58 |
| Singapore | 0.57 |
| Austria | 0.30 |
| Denmark | 0.29 |
| Total | 96.67 |

Economic Breakdown as a % of net assets	
| Banks & credit institutions | 31.92 |
| --- | --- |
| Finance & holding companies | 26.81 |
| Telecommunications | 7.52 |
| Insurance | 5.62 |
| Energy & water supply | 5.61 |
| Supranational organisations | 2.44 |
| Food & soft drinks | 2.39 |
| Building industry & materials | 2.36 |
| Petroleum | 2.30 |
| Electrical devices & components | 1.78 |
| Tobacco & alcohol | 1.52 |
| Traffic & transportation | 1.47 |
| Investment funds | 1.31 |
| Pharmaceuticals, cosmetics & medical products | 1.24 |
| Miscellaneous services | 0.91 |
| Electronics & semiconductors | 0.58 |
| Vehicles | 0.54 |
| Miscellaneous trading companies | 0.35 |
| Total | 96.67 |

UBS (Lux) SICAV 2 – EUR Corporate Bond Sustainable (EUR)
Semi-Annual Report as of 30 April 2020

### Statement of Net Assets
Assets	30.4.2020
EUR
Investments in securities, cost	33 392 868.52
| Investments in securities, unrealized appreciation (depreciation) | 	-27 253.53	 |
| --- | --- |
| Total investments in securities (Note 1) | 33 365 614.99 |
| Cash at banks, deposits on demand and deposit accounts | 1 018 221.34 |
| Other liquid assets (Margins) | 62 910.33 |
| Interest receivable on securities | 311 251.62 |
| Other assets | 38 355.07 |
| Unrealized gain (loss) on financial futures (Note 1) | -3 530.00 |
| Unrealized gain (loss) on swaps (Note 1) | -6 636.53 |
| Total Assets | 34 786 186.82 |
|  |  |
| Liabilities |  |
| Payable on securities purchases (Note 1) | -186 325.42 |
| Payable on redemptions | -63 664.60 |
| Provisions for flat fee (Note 2) | -12 562.36 |
| Provisions for taxe d’abonnement (Note 3) | -1 422.40 |
| Provisions for other commissions and fees (Note 2) | 	-5 445.70	 |
| Total provisions | -19 430.46 |
| Total Liabilities | -269 420.48 |
|  |  |
| Net assets at the end of the period | 34 516 766.34 |
| Statement of Operations | EUR |
| Income | 1.11.2019-30.4.2020 |
| Interest on securities | 396 827.69 |
| Interest received on swaps (Note 1) | 12 406.83 |
| Income on securities lending (Note 12) | 7 627.40 |
| Other income (Note 4) | 3 229.64 |
| Total income | 420 091.56 |
|  |  |
| Expenses |  |
| Interest paid on swaps (Note 1) | -5 087.46 |
| Cost on securities lending (Note 12) | -3 050.96 |
| Flat fee (Note 2) | -88 326.30 |
| Taxe d’abonnement (Note 3) | -8 451.78 |
| Other commissions and fees (Note 2) | -5 398.21 |
| Interest on cash and bank overdraft | -533.17 |
| Total expenses | -110 847.88 |
|  |  |
| Net income (loss) on investments | 309 243.68 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | 68 667.46 |
| Realized gain (loss) on yield-evaluated securities and money market instruments | -282.42 |
| Realized gain (loss) on financial futures | 3 198.00 |
| Realized gain (loss) on swaps | 90 221.68 |
| Total realized gain (loss) | 161 804.72 |
|  |  |
| Net realized gain (loss) of the period | 471 048.40 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | -1 691 506.30 |
| Unrealized appreciation (depreciation) on yield-evaluated securities and money market instruments | 188.86 |
| Unrealized appreciation (depreciation) on financial futures | -860.00 |
| Unrealized appreciation (depreciation) on swaps | -6 636.53 |
| Total changes in unrealized appreciation (depreciation) | -1 698 813.97 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | -1 227 765.57 |

UBS (Lux) SICAV 2 – EUR Corporate Bond Sustainable (EUR) Semi-Annual Report as of 30 April 2020
| Statement of Changes in Net Assets |  |
| --- | --- |
|  | EUR |
|  | 1.11.2019-30.4.2020 |
| Net assets at the beginning of the period | 39 549 170.69 |
| Subscriptions | 186 585.98 |
| Redemptions | 	-3 991 224.76	 |
| Total net subscriptions (redemptions) | -3 804 638.78 |
| Net income (loss) on investments | 309 243.68 |
| Total realized gain (loss) | 161 804.72 |
| Total changes in unrealized appreciation (depreciation) | 	-1 698 813.97	 |
| Net increase (decrease) in net assets as a result of operations | -1 227 765.57 |
| Net assets at the end of the period | 34 516 766.34 |
| Changes in the Number of Shares outstanding |  |
|  | 1.11.2019-30.4.2020 |
| Class | P-acc |
| Number of shares outstanding at the beginning of the period | 292 287.0650 |
| Number of shares issued | 395.5980 |
| Number of shares redeemed | -29 674.4630 |
| Number of shares outstanding at the end of the period | 263 008.2000 |
| Class | Q-acc |
| Number of shares outstanding at the beginning of the period | 2 885.5750 |
| Number of shares issued | 1 240.5570 |
| Number of shares redeemed | -346.8820 |
| Number of shares outstanding at the end of the period | 3 779.2500 |

UBS (Lux) SICAV 2 – EUR Corporate Bond Sustainable (EUR)
Semi-Annual Report as of 30 April 2020

### Statement of Investments in Securities and other Net Assets as of 30 April 2020
| Description | Quantity/ | Valuation in EUR | 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 |  |  |  |
| Notes, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	ANHEUSER-BUSCH INBEV SA/NV-REG-S 3.70000% 20-02.04.40 | 200 000.00 | 233 930.00 | 0.68 |
| EUR	AUSNET SERVICES HOLDINGS PTY LTD-REG-S 0.62500% 20-25.08.30 | 300 000.00 | 291 152.40 | 0.84 |
| EUR	BP CAPITAL MARKETS PLC-REG-S 2.82200% 20-07.04.32 | 300 000.00 | 329 445.00 | 0.95 |
| EUR	CIE DE SAINT-GOBAIN-REG-S 2.37500% 20-04.10.27 | 100 000.00 | 105 960.00 | 0.31 |
| EUR	ENEL FINANCE INTERNATIONAL NV-REG-S 1.37500% 16-01.06.26 | 600 000.00 | 625 693.50 | 1.81 |
| EUR	FORD MOTOR CREDIT CO LLC 1.51400% 19-17.02.23 | 100 000.00 | 89 000.00 | 0.26 |
| Total EUR |  | 1 675 180.90 | 4.85 |
| Total Notes, fixed rate |  | 1 675 180.90 | 4.85 |
| Notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	AUSTRALIA & NZ BANKING GRP-REG-S-SUB 1.125%/VAR 19-21.11.29 | 200 000.00 | 192 634.00 | 0.56 |
| Total EUR |  | 192 634.00 | 0.56 |
| Total Notes, floating rate |  | 192 634.00 | 0.56 |
| Medium term notes, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	ABERTIS INFRAESTRUCTURAS SA-REG-S 2.37500% 19-27.09.27 | 100 000.00 | 97 294.08 | 0.28 |
| EUR	ABERTIS INFRAESTRUCTURAS SA-REG-S 3.00000% 19-27.03.31 | 200 000.00 | 198 944.40 | 0.58 |
| EUR	ABN AMRO BANK NV-REG-S-SUB 7.12500% 12-06.07.22 | 300 000.00 | 334 831.89 | 0.97 |
| EUR	AIB GROUP PLC-REG-S 1.25000% 19-28.05.24 | 100 000.00 | 97 320.46 | 0.28 |
| EUR	ANGLO AMERICAN CAPITAL PLC-REG-S 1.62500% 17-18.09.25 | 200 000.00 | 202 160.00 | 0.59 |
| EUR	APRR SA-REG-S 1.62500% 17-13.01.32 | 100 000.00 | 105 294.00 | 0.30 |
| EUR	ASSICURAZIONI GENERALI SPA-REG-S-SUB 4.12500% 14-04.05.26 | 200 000.00 | 216 750.00 | 0.63 |
| EUR	AUTOSTRADE PER L’ITALIA SPA 4.37500% 10-16.09.25 | 100 000.00 | 103 909.40 | 0.30 |
| EUR	BANCO BILBAO VIZCAYA ARGENTARIA-REG-S 0.37500% 19-02.10.24 | 300 000.00 | 286 855.80 | 0.83 |
| EUR	BANK OF AMERICA CORP-REG-S 1.37500% 15-26.03.25 | 300 000.00 | 308 339.40 | 0.89 |
| EUR	BANQUE FEDER DU CREDIT MUTUEL-REG-S-SUB 2.37500% 16-24.03.26 | 600 000.00 | 621 960.00 | 1.80 |
| EUR	BARCLAYS BANK PLC-SUB 6.62500% 11-30.03.22 | 175 000.00 | 188 983.90 | 0.55 |
| EUR	BMW FINANCE NV-REG-S 2.62500% 14-17.01.24 | 100 000.00 | 107 075.20 | 0.31 |
| EUR	BNP PARIBAS SA-REG-S 1.37500% 19-28.05.29 | 200 000.00 | 206 028.40 | 0.60 |
| EUR	BNP PARIBAS SA-REG-S 1.50000% 17-17.11.25 | 200 000.00 | 206 150.00 | 0.60 |
| EUR	BP CAPITAL MARKETS PLC-REG-S 1.59400% 18-03.07.28 | 400 000.00 | 398 580.00 | 1.15 |
| EUR	BPCE SA-REG-S 1.12500% 17-18.01.23 | 100 000.00 | 100 695.40 | 0.29 |
| EUR	CIE DE SAINT-GOBAIN-REG-S 1.12500% 18-23.03.26 | 400 000.00 | 396 107.62 | 1.15 |
| EUR	CITIGROUP INC-REG-S 1.50000% 16-26.10.28 | 300 000.00 | 309 925.20 | 0.90 |
| EUR	CREDIT AGRICOLE SA LONDON 2.37500% 14-20.05.24 | 300 000.00 | 324 494.40 | 0.94 |
| EUR	CREDIT AGRICOLE SA LONDON-REG-S 1.87500% 16-20.12.26 | 300 000.00 | 316 230.00 | 0.92 |
| EUR	DEUTSCHE BAHN FINANCE GMBH-REG-S 0.75000% 20-16.07.35 | 100 000.00 | 101 585.80 | 0.29 |
| EUR	DEUTSCHE BANK AG-REG-S 1.62500% 19-12.02.21 | 200 000.00 | 198 184.80 | 0.57 |
| EUR	DEUTSCHE BANK-REG-S 2.37500% 13-11.01.23 | 200 000.00 | 198 855.20 | 0.58 |
| EUR	DEUTSCHE TELEKOM AG-REG-S 2.25000% 19-29.03.39 | 100 000.00 | 117 402.60 | 0.34 |
| EUR	DEUTSCHE TELEKOM INTL FINANCE BV-REG-S 1.50000% 16-03.04.28 | 400 000.00 | 425 507.20 | 1.23 |
| EUR	DIAGEO FINANCE PLC-REG-S 1.75000% 14-23.09.24 | 300 000.00 | 315 051.00 | 0.91 |
| EUR	DIAGEO FINANCE PLC-REG-S 1.00000% 18-22.04.25 | 100 000.00 | 101 902.46 | 0.30 |
| EUR	ENGIE SA-REG-S 1.75000% 20-27.03.28 | 100 000.00 | 108 876.60 | 0.32 |
| EUR	ENGIE SA-REG-S 2.37500% 14-19.05.26 | 100 000.00 | 111 606.33 | 0.32 |
| EUR	EUROGRID GMBH-REG-S 1.50000% 16-18.04.28 | 300 000.00 | 315 090.00 | 0.91 |
| EUR	EUROPEAN INVESTMENT BANK 3.00000% 13-14.10.33 | 600 000.00 | 840 988.80 | 2.44 |
| EUR	FORD MOTOR CREDIT CO LLC 3.02100% 19-06.03.24 | 100 000.00 | 88 613.20 | 0.26 |
| EUR	GE CAPITAL EUROPEAN FUNDING 4.62500% 07-22.02.27 | 200 000.00 | 230 530.00 | 0.67 |
| EUR	GE CAPITAL EUROPEAN FUNDING-REG-S 0.80000% 15-21.01.22 | 420 000.00 | 415 353.12 | 1.20 |
| EUR	GENERAL MOTORS FINANCIAL CO INC-REG-S 0.95500% 16-07.09.23 | 200 000.00 | 176 624.40 | 0.51 |
| EUR	GENERAL MOTORS FINANCIAL CO INC-REG-S 1.69400% 18-26.03.25 | 200 000.00 | 173 415.20 | 0.50 |
| EUR	GLENCORE FINANCE EUROPE SA-REG-S 1.75000% 15-17.03.25 | 400 000.00 | 391 248.52 | 1.13 |
| EUR	GOLDMAN SACHS GROUP INC-REG-S 1.62500% 16-27.07.26 | 400 000.00 | 409 824.00 | 1.19 |
| EUR	HEIDELBERGCEMENT AG-REG-S 1.50000% 16-07.02.25 | 100 000.00 | 98 996.00 | 0.29 |
| EUR	HOLCIM FINANCE LUXEMBOURG SA-REG-S 2.25000% 16-26.05.28 | 100 000.00 | 103 513.00 | 0.30 |
| EUR	HSBC HOLDINGS PLC-SUB 3.00000% 15-30.06.25 | 200 000.00 | 212 595.20 | 0.62 |
| EUR	INNOGY FINANCE II BV-REG-S 5.75000% 03-14.02.33 | 100 000.00 | 154 595.00 | 0.45 |
| EUR	JPMORGAN CHASE & CO-REG-S 1.50000% 15-27.01.25 | 400 000.00 | 414 080.00 | 1.20 |
| EUR	LANDESBANK BADEN-WUERTTEMBERG-REG-S-SUB 3.62500% 15-16.06.25 | 200 000.00 | 205 154.00 | 0.59 |
| EUR	LLOYDS BANK PLC-REG-S 1.25000% 15-13.01.25 | 100 000.00 | 103 040.00 | 0.30 |
| EUR	LOGICOR FINANCING SARL-REG-S 3.25000% 18-13.11.28 | 200 000.00 | 204 793.60 | 0.59 |
| EUR	LOGICOR FINANCING SARL-REG-S 1.62500% 19-15.07.27 | 300 000.00 | 284 880.00 | 0.83 |
| EUR	MORGAN STANLEY 1.75000% 15-30.01.25 | 400 000.00 | 415 940.00 | 1.21 |
| EUR	MORGAN STANLEY 1.87500% 17-27.04.27 | 200 000.00 | 212 134.00 | 0.61 |
| EUR	NATWEST MARKETS PLC-REG-S 1.00000% 19-28.05.24 | 200 000.00 | 194 473.20 | 0.56 |
| EUR	OP CORPORATE BANK PLC-REG-S-SUB 5.75000% 12-28.02.22 | 209 000.00 | 226 357.37 | 0.66 |
| EUR	ORANGE SA 1.12500% 19-15.07.24 | 300 000.00 | 309 621.00 | 0.90 |
| EUR	ORANGE SA-REG-S 1.37500% 18-20.03.28 | 300 000.00 | 321 558.60 | 0.93 |
| EUR	RAIFFEISEN BANK INTL AG-SUB 6.62500% 11-18.05.21 | 100 000.00 | 103 822.40 | 0.30 |
| EUR	SANOFI-REG-S 0.87500% 19-21.03.29 | 100 000.00 | 106 221.90 | 0.31 |
| EUR	SANOFI-REG-S 1.37500% 18-21.03.30 | 200 000.00 | 222 579.60 | 0.64 |
| EUR	SANTANDER CONSUMER FINANCE SA-REG-S 0.87500% 18-30.05.23 | 100 000.00 | 99 285.36 | 0.29 |
| EUR	SCHAEFFLER AG-REG-S 1.87500% 19-26.03.24 | 100 000.00 | 94 875.00 | 0.27 |
| EUR	SCHAEFFLER AG-REG-S 2.87500% 19-26.03.27 | 100 000.00 | 92 000.00 | 0.27 |
| EUR	SKY PLC-REG-S 2.50000% 14-15.09.26 | 200 000.00 | 223 059.38 | 0.65 |
| EUR	SOCIETE GENERALE-REG-S 1.25000% 19-15.02.24 | 200 000.00 | 201 487.60 | 0.58 |
| EUR	SUMITOMO MITSUI FIN GP INC-REG-S 0.81900% 18-23.07.23 | 600 000.00 | 593 869.32 | 1.72 |
| EUR	TELEFONICA EMISIONES SA-REG-S 1.46000% 16-13.04.26 | 200 000.00 | 207 384.82 | 0.60 |

UBS (Lux) SICAV 2 – EUR Corporate Bond Sustainable (EUR) Semi-Annual Report as of 30 April 2020
|  | Description | Quantity/ | Valuation in EUR | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| EUR | UNICREDITO ITALIANO SPA 1.00000% 18-18.01.23 | 400 000.00 | 384 947.20 | 1.12 |
| EUR | UNION FENOSA FINANCE BV-REG-S 1.25000% 20-15.01.26 | 200 000.00 | 205 584.00 | 0.60 |
| EUR | VEOLIA ENVIRONNEMENT-REG-S 0.89200% 19-14.01.24 | 100 000.00 | 101 815.00 | 0.29 |
| EUR | VEOLIA ENVIRONNEMENT SA-REG-S 1.25000% 20-15.04.28 | 100 000.00 | 104 557.00 | 0.30 |
| EUR | VERIZON COMMUNICATIONS INC 3.25000% 14-17.02.26 | 300 000.00 | 348 600.00 | 1.01 |
| EUR | VINCI SA-REG-S 1.62500% 19-18.01.29 | 200 000.00 | 212 024.00 | 0.61 |
| EUR | VODAFONE GROUP PLC-REG-S 1.60000% 16-29.07.31 | 200 000.00 | 210 746.00 | 0.61 |
| Total EUR |  |  | 16 823 178.33 | 48.74 |
| Total Medium term notes, fixed rate |  | 16 823 178.33 | 48.74 |
| Medium term notes, zero coupon |  |  |  |
| EUR |  |  |  |
| EUR	E.ON SE-REG-S 0.00000% 19-28.08.24 | 100 000.00 | 98 836.80 | 0.29 |
| Total EUR |  | 98 836.80 | 0.29 |
| Total Medium term notes, zero coupon |  | 98 836.80 | 0.29 |
| Medium term notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	ALLIANZ FINANCE II-SUB 5.750%/3M EURIBOR+334.9BP 11-08.07.41 | 100 000.00 | 105 119.80 | 0.31 |
| EUR	ALLIANZ SE-REG-S-SUB 4.750%/3M EURIBOR+360BP 13-PRP | 300 000.00 | 332 178.00 | 0.96 |
| EUR	AVIVA PLC-REG-S-SUB 3.375%/VAR 15-04.12.45 | 300 000.00 | 320 802.60 | 0.93 |
| EUR	AVIVA PLC-SUB 6.125%/VAR 13-05.07.43 | 200 000.00 | 226 037.20 | 0.66 |
| EUR	AXA SA-REG-S-SUB 3.375%/VAR 16-06.07.47 | 100 000.00 | 110 934.00 | 0.32 |
| EUR	AXA SA-REG-S-SUB 3.941%/VAR 14-PRP | 200 000.00 | 216 000.00 | 0.63 |
| EUR	BNP PARIBAS SA-REG-S 1.125%/VAR 20-17.04.29 | 100 000.00 | 99 820.00 | 0.29 |
| EUR	BNP PARIBAS-REG-S 2.125%/VAR 19-23.01.27 | 200 000.00 | 211 911.60 | 0.61 |
| EUR	CITIGROUP INC-SUB 4.250%/FLR 05-25.02.30 | 100 000.00 | 111 167.00 | 0.32 |
| EUR	COMMONWEALTH BK OF AUSTRLIA-REG-S-SUB 1.936%/VAR 17-03.10.29 | 200 000.00 | 199 732.00 | 0.58 |
| EUR	CREDIT SUISSE GROUP AG-REG-S 3.250%/VAR 20-02.04.26 | 100 000.00 | 108 483.00 | 0.31 |
| EUR	DANONE SA-REG-S-SUB 1.750%/VAR 17-PRP | 300 000.00 | 296 625.00 | 0.86 |
| EUR	DANSKE BANK AS-REG-S-SUB 2.500%/VAR 19-21.06.29 | 100 000.00 | 100 812.40 | 0.29 |
| EUR	DBS GROUP HOLDINGS LTD-REG-S-SUB 1.500%/VAR 18-11.04.28 | 200 000.00 | 196 828.42 | 0.57 |
| EUR	ELECTRICITE DE FRANCE SA-REG-S-SUB 5.000%/VAR 14-PRP | 100 000.00 | 102 720.20 | 0.30 |
| EUR	ENBW ENERGIE BADEN-WUERTT-REG-S-SUB 3.625%/VAR 14-02.04.76 | 400 000.00 | 405 412.00 | 1.17 |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S-SUB 2.625%/VAR 18-PRP | 600 000.00 | 614 280.00 | 1.78 |
| EUR	ING BANK NV-SUB 3.625%/VAR 14-25.02.26 | 470 000.00 | 476 307.40 | 1.38 |
| EUR	ING GROEP NV-SUB 3.000%/VAR 17-11.04.28 | 200 000.00 | 206 139.20 | 0.60 |
| EUR	JPMORGAN CHASE & CO-REG-S 1.047%/VAR 19-04.11.32 | 100 000.00 | 97 309.80 | 0.28 |
| EUR	JPMORGAN CHASE & CO-REG-S 0.389%/3M EURIBOR+65BP 20-24.02.28 | 400 000.00 | 382 896.00 | 1.11 |
| EUR	LA BANQUE POSTALE-REG-S-SUB-2.750%/VAR 14-23.04.26 | 300 000.00 | 300 366.00 | 0.87 |
| EUR	NORDEA BANK ABP-REG-S-SUB 1.000%/VAR 16-07.09.26 | 400 000.00 | 394 056.00 | 1.14 |
| EUR	SVENSKA HANDELSBANKEN AB-REG-S-SUB 1.250%/VAR 18-02.03.28 | 200 000.00 | 199 012.00 | 0.58 |
| EUR	TOTAL SA-REG-S-SUB 2.250%/VAR 15-PRP | 300 000.00 | 294 750.00 | 0.85 |
| EUR	TOTAL SA-REG-S-SUB 3.369%/VAR 16-PRP | 200 000.00 | 207 986.40 | 0.60 |
| Total EUR |  | 6 317 686.02 | 18.30 |
| Total Medium term notes, floating rate |  | 6 317 686.02 | 18.30 |
| Bonds, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	ARGENTUM NETHERLANDS BV FOR GIV-REG-S 1.12500% 18-17.09.25 | 400 000.00 | 413 888.80 | 1.20 |
| EUR	ARGENTUM NETHERLANDS BV FOR GIV-REG-S 2.00000% 18-17.09.30 | 100 000.00 | 108 955.00 | 0.32 |
| EUR	AT&T INC 2.60000% 14-17.12.29 | 200 000.00 | 224 479.70 | 0.65 |
| EUR	AT&T INC 3.50000% 13-17.12.25 | 300 000.00 | 341 858.40 | 0.99 |
| EUR	BAYER CAPITAL CORP BV-REG-S 0.62500% 18-15.12.22 | 200 000.00 | 200 514.00 | 0.58 |
| EUR	COCA-COLA EUROPEAN PARTNERS PLC-REG-S 1.75000% 16-26.05.28 | 500 000.00 | 527 094.00 | 1.53 |
| EUR	CREDIT AGRICOLE SA-REG-S-SUB 2.62500% 15-17.03.27 | 100 000.00 | 108 606.80 | 0.31 |
| EUR	GIE PSA TRESORERIE 6.00000% 03-19.09.33 | 100 000.00 | 121 763.40 | 0.35 |
| EUR	GOLDMAN SACHS GROUP INC-SUB 4.75000% 06-12.10.21 | 160 000.00 | 166 693.12 | 0.48 |
| EUR	LANDESBANK BADEN-WUERTTEMBERG-REG-S-SUB 2.87500% 16-28.09.26 | 100 000.00 | 97 174.40 | 0.28 |
| EUR	MOLSON COORS BREWING CO 1.25000% 16-15.07.24 | 300 000.00 | 292 018.80 | 0.85 |
| EUR	NOVARTIS FINANCE SA-REG-S 1.37500% 18-14.08.30 | 100 000.00 | 110 120.20 | 0.32 |
| EUR	RABOBANK NEDERLAND NV-SUB 3.87500% 13-25.07.23 | 300 000.00 | 324 479.40 | 0.94 |
| EUR	THERMO FISHER SCIENTIFIC INC 0.75000% 16-12.09.24 | 200 000.00 | 201 545.38 | 0.58 |
| EUR	WINTERSHALL DEA FINANCE-REG-S 1.82300% 19-25.09.31 | 300 000.00 | 246 675.36 | 0.72 |
| Total EUR |  | 3 485 866.76 | 10.10 |
| Total Bonds, fixed rate |  | 3 485 866.76 | 10.10 |
| Bonds, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	ALLIANDER NV-REG-S-SUB 1.625%/VAR 18-PRP | 300 000.00 | 298 875.00 | 0.87 |
| EUR	ALLIANZ SE-REG-S-SUB 1.301%/3M EURIBOR+235BP 19-25.09.49 | 100 000.00 | 98 750.00 | 0.29 |
| EUR	BHP BILLITON FINANCE LTD-REG-S-SUB 5.625%/VAR 15-22.10.79 | 300 000.00 | 334 001.40 | 0.97 |
| EUR	BNP PARIBAS SA-REG-S-SUB 6.125%/VAR 15-PRP | 200 000.00 | 203 500.00 | 0.59 |
| EUR	CENTRICA PLC-REG-S-SUB 3.000%/VAR 15-10.04.76 | 100 000.00 | 97 986.00 | 0.28 |
| EUR	DEUTSCHE BAHN FINANCE GMBH-REG-S-SUB 0.950%/VAR 19-PRP | 300 000.00 | 294 000.00 | 0.85 |
| EUR	ENGIE SA-REG-S-SUB 1.375%/VAR 18-PRP | 200 000.00 | 195 584.00 | 0.57 |
| EUR	ENGIE SA-REG-S-SUB 3.87500%/VAR 14-PRP | 200 000.00 | 211 901.32 | 0.61 |
| EUR	HOLCIM FINANCE LUXEMBOURG SA-REG-S-SUB 3.000%/VAR 19-PRP | 200 000.00 | 195 444.00 | 0.57 |
| EUR	MERCK KGAA-REG-S-SUB 2.625%/VAR 14-12.12.74 | 100 000.00 | 100 688.40 | 0.29 |
| EUR	RABOBANK NEDERLAND NV-REG-S-SUB 2.500%/VAR 14-26.05.26 | 300 000.00 | 300 181.20 | 0.87 |
| EUR	RABOBANK NEDERLAND NV-REG-S-SUB 3.250%/VAR 19-PRP | 200 000.00 | 182 500.00 | 0.53 |
| EUR	SOCIETE GENERALE-REG-S-SUB 6.750%/VAR 14-PRP | 200 000.00 | 200 074.40 | 0.58 |
| EUR	SSE PLC-REG-S-SUB 2.375%/VAR 15-PRP | 100 000.00 | 98 161.20 | 0.28 |
| EUR	SWISS RE FINANCE LUX SA-REG-S-SUB 2.534%/VAR 19-30.04.50 | 300 000.00 | 312 795.60 | 0.91 |
| EUR	TELEFONICA EUROPE BV-REG-S-SUB 3.000%/VAR 18-PRP | 300 000.00 | 290 322.60 | 0.84 |

UBS (Lux) SICAV 2 – EUR Corporate Bond Sustainable (EUR)
Semi-Annual Report as of 30 April 2020
|  | Description | Quantity/ | Valuation in EUR | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| EUR | UBS GROUP AG-REG-S 1.250%/VAR 18-17.04.25 | 400 000.00 | 405 168.00 | 1.17 |
| EUR | UBS GROUP AG-REG-S-SUB 5.750%/VAR 15-PRP | 200 000.00 | 206 436.00 | 0.60 |
| EUR | VOLKSWAGEN INTL FINANCE NV-REG-S-SUB 3.500%/VAR 15-PRP | 100 000.00 | 94 518.08 | 0.27 |
| EUR | VOLKSWAGEN INTL FINANCE NV-REG-S-SUB 4.625%/VAR 18-PRP | 200 000.00 | 199 490.40 | 0.58 |
| Total EUR |  |  | 4 320 377.60 | 12.52 |
| Total Bonds, floating rate | 4 320 377.60 | 12.52 |
| Total Transferable securities and money market instruments listed on an official stock exchange | 32 913 760.41 | 95.36 |
| UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 |  |  |
| Investment funds, open end |  |  |
| Ireland |  |  |
| EUR	UBS (IRL) SELECT MONEY MARKET FUND-EUR-S-DIST	45.48 | 451 854.58 | 1.31 |
| Total Ireland | 451 854.58 | 1.31 |
| Total Investment funds, open end | 451 854.58 | 1.31 |
| Total UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 | 451 854.58 | 1.31 |
| Total investments in securities | 33 365 614.99 | 96.67 |

| Derivative instruments |  |
| --- | --- |
| Derivative instruments listed on an official stock exchange |
| Financial Futures on bonds |
|  |  |  |  |
| EUR	EURO-BUND FUTURE 08.06.20 | 5.00 | -3 530.00 | -0.01 |
| Total Financial Futures on bonds | -3 530.00 | -0.01 |
| Total Derivative instruments listed on an official stock exchange | -3 530.00 | -0.01 |
| Derivative instruments not listed on an official stock exchange and not traded on another regulated market |  |  |
| Credit default swaps* |  |  |
|  |  |  |
| EUR	ICE/ITRX.XOVER.32-V1 CDI PAYER 5.00000% 19-20.12.24	-400 000.00 | -6 636.53 | -0.02 |
| Total Credit default swaps | -6 636.53 | -0.02 |
| Total Derivative instruments not listed on an official stock exchange and not traded on another regulated market | -6 636.53 | -0.02 |
| Total Derivative instruments | -10 166.53 | -0.03 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 1 081 131.67 | 3.13 |
| Other assets and liabilities | 80 186.21 | 0.23 |
| Total net assets | 34 516 766.34 | 100.00 |
| * Positive nominal: the subfund is “Receiver”, negative nominal: the subfund is “Payer”. |  |  |

UBS (Lux) SICAV 2 – EUR Corporate Bond Sustainable (EUR) Semi-Annual Report as of 30 April 2020

Translation (ENDE, 2020-04-30):
# UBS (Lux) SICAV 2 – EUR Corporate Bond Sustainable (EUR)
| Wichtigste Daten |  |
| --- | --- |
|  | ISIN | 30.4.2020 | 31.10.2019 | 31.10.2018 |
| Nettovermögen in EUR |  | 34 516 766.34 | 39 549 170.69 | 41 501 626.91 |
| Klasse P-acc | LU0224519792 |  |  |  |
| Aktien im Umlauf |  | 263 008.2000 | 292 287.0650 | 326 364.4420 |
| Nettoinventarwert pro Aktie in EUR |  | 129.73 | 134.24 | 126.60 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 1 |  | 129.73 | 134.24 | 126.60 |
| Klasse Q-acc | LU0417377784 |  |  |  |
| Aktien im Umlauf |  | 3 779.2500 | 2 885.5750 | 1 801.2370 |
| Nettoinventarwert pro Aktie in EUR |  | 105.23 | 108.82 | 102.11 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 1 |  | 105.23 | 108.82 | 102.11 |
| 1  Siehe Erläuterung 1 |  |  |  |  |


### Struktur des Wertpapierbestandes
Geographische Aufteilung in % des Nettovermögens	
| Frankreich | 19.56 |
| --- | --- |
| Niederlande | 17.14 |
| Vereinigte Staaten | 13.80 |
| Grossbritannien | 11.78 |
| Deutschland | 8.25 |
| Luxemburg | 7.08 |
| Irland | 3.46 |
| Australien | 2.95 |
| Spanien | 2.58 |
| Schweiz | 2.09 |
| Italien | 2.04 |
| Finnland | 1.80 |
| Japan | 1.72 |
| Belgien | 0.68 |
| Schweden | 0.58 |
| Singapur | 0.57 |
| Österreich | 0.30 |
| Dänemark | 0.29 |
| Total | 96.67 |

Wirtschaftliche Aufteilung in % des Nettovermögens	
| Banken & Kreditinstitute | 31.92 |
| --- | --- |
| Finanz- & Beteiligungsgesellschaften | 26.81 |
| Telekommunikation | 7.52 |
| Versicherungen | 5.62 |
| Energie- & Wasserversorgung | 5.61 |
| Supranationale Organisationen | 2.44 |
| Nahrungsmittel & Softdrinks | 2.39 |
| Baugewerbe & Baumaterial | 2.36 |
| Erdöl | 2.30 |
| Elektrische Geräte & Komponenten | 1.78 |
| Tabak & alkoholische Getränke | 1.52 |
| Verkehr & Transport | 1.47 |
| Anlagefonds | 1.31 |
| Pharmazeutik, Kosmetik & medizinische Produkte | 1.24 |
| Diverse Dienstleistungen | 0.91 |
| Elektronik & Halbleiter | 0.58 |
| Fahrzeuge | 0.54 |
| Diverse Handelsfirmen | 0.35 |
| Total | 96.67 |

UBS (Lux) SICAV 2 – EUR Corporate Bond Sustainable (EUR)
Halbjahresbericht per 30. April 2020

### Nettovermögensaufstellung
Aktiva	30.4.2020
EUR
Wertpapierbestand, Einstandswert	33 392 868.52
| Wertpapierbestand, nicht realisierte Werterhöhung (-minderung) | 	-27 253.53	 |
| --- | --- |
| Total Wertpapierbestand (Erläuterung 1) | 33 365 614.99 |
| Bankguthaben, Sicht- und Fristgelder | 1 018 221.34 |
| Andere liquide Mittel (Margins) | 62 910.33 |
| Zinsforderungen aus Wertpapieren | 311 251.62 |
| Sonstige Aktiva | 38 355.07 |
| Nicht realisierter Kursgewinn (-verlust) aus Finanzterminkontrakten (Erläuterung 1) | -3 530.00 |
| Nicht realisierter Kursgewinn (-verlust) aus Swaps (Erläuterung 1) | -6 636.53 |
| Total Aktiva | 34 786 186.82 |
|  |  |
| Passiva |  |
| Verbindlichkeiten aus Wertpapierkäufen (Erläuterung 1) | -186 325.42 |
| Verbindlichkeiten aus Rücknahmen | -63 664.60 |
| Rückstellungen für pauschale Verwaltungskommission (Erläuterung 2) | -12 562.36 |
| Rückstellungen für Abonnementsabgabe (Erläuterung 3) | -1 422.40 |
| Rückstellungen für sonstige Kommissionen und Gebühren (Erläuterung 2) | 	-5 445.70	 |
| Total Rückstellungen für Aufwendungen | -19 430.46 |
| Total Passiva | -269 420.48 |
|  |  |
| Nettovermögen am Ende der Berichtsperiode | 34 516 766.34 |
| Ertrags- und Aufwandsrechnung | EUR |
| Erträge | 1.11.2019-30.4.2020 |
| Zinsen auf Wertpapiere | 396 827.69 |
| Zinsertrag auf Swaps (Erläuterung 1) | 12 406.83 |
| Erträge aus Securities Lending (Erläuterung 12) | 7 627.40 |
| Sonstige Erträge (Erläuterung 4) | 3 229.64 |
| Total Erträge | 420 091.56 |
|  |  |
| Aufwendungen |  |
| Zinsaufwand auf Swaps (Erläuterung 1) | -5 087.46 |
| Kosten aus Securities Lending (Erläuterung 12) | -3 050.96 |
| Pauschale Verwaltungskommission (Erläuterung 2) | -88 326.30 |
| Abonnementsabgabe (Erläuterung 3) | -8 451.78 |
| Sonstige Kommissionen und Gebühren (Erläuterung 2) | -5 398.21 |
| Zinsaufwand auf liquide Mittel und Kontokorrentkredit | -533.17 |
| Total Aufwendungen | -110 847.88 |
|  |  |
| Nettoerträge (-verluste) aus Anlagen | 309 243.68 |
|  |  |
| Realisierte Gewinne (Verluste) (Erläuterung 1) |  |
| Realisierter Kursgewinn (-verlust) aus marktbewerteten Wertpapieren ausser Optionen | 68 667.46 |
| Realisierter Kursgewinn (-verlust) aus renditebewerteten Wertpapieren und Geldmarktinstrumenten | -282.42 |
| Realisierter Kursgewinn (-verlust) aus Finanzterminkontrakten | 3 198.00 |
| Realisierter Kursgewinn (-verlust) aus Swaps | 90 221.68 |
| Total der realisierten Gewinne (Verluste) | 161 804.72 |
|  |  |
| Realisierter Nettogewinn (-verlust) der Berichtsperiode | 471 048.40 |
|  |  |
| Veränderungen der nicht realisierten Werterhöhung (-minderung) (Erläuterung 1) |  |
| Nicht realisierte Werterhöhung (-minderung) marktbewerteter Wertpapiere ausser Optionen | -1 691 506.30 |
| Nicht realisierte Werterhöhung (-minderung) renditebewerteter Wertpapiere und Geldmarktinstrumente | 188.86 |
| Nicht realisierte Werterhöhung (-minderung) von Finanzterminkontrakten | -860.00 |
| Nicht realisierte Werterhöhung (-minderung) von Swaps | -6 636.53 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | -1 698 813.97 |
|  |  |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | -1 227 765.57 |

UBS (Lux) SICAV 2 – EUR Corporate Bond Sustainable (EUR) Halbjahresbericht per 30. April 2020
| Veränderungen des Nettovermögens |  |
| --- | --- |
|  | EUR |
|  | 1.11.2019-30.4.2020 |
| Nettovermögen zu Beginn der Berichtsperiode | 39 549 170.69 |
| Zeichnungen | 186 585.98 |
| Rücknahmen | 	-3 991 224.76	 |
| Total Mittelzufluss (-abfluss) | -3 804 638.78 |
| Nettoerträge (-verluste) aus Anlagen | 309 243.68 |
| Total der realisierten Gewinne (Verluste) | 161 804.72 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | 	-1 698 813.97	 |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | -1 227 765.57 |
| Nettovermögen am Ende der Berichtsperiode | 34 516 766.34 |
| Entwicklung der Aktien im Umlauf |  |
|  | 1.11.2019-30.4.2020 |
| Klasse | P-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode | 292 287.0650 |
| Anzahl der ausgegebenen Aktien | 395.5980 |
| Anzahl der zurückgegebenen Aktien | -29 674.4630 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode | 263 008.2000 |
| Klasse | Q-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode | 2 885.5750 |
| Anzahl der ausgegebenen Aktien | 1 240.5570 |
| Anzahl der zurückgegebenen Aktien | -346.8820 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode | 3 779.2500 |

UBS (Lux) SICAV 2 – EUR Corporate Bond Sustainable (EUR)
Halbjahresbericht per 30. April 2020

### Aufstellung der Wertpapierbestände und anderer Nettovermögenswerte per 30. April 2020
| Bezeichnung | Anzahl/ | Bewertung in EUR | 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 |  |  |  |
| Notes, fester Zins |  |  |  |
| EUR |  |  |  |
| EUR	ANHEUSER-BUSCH INBEV SA/NV-REG-S 3.70000% 20-02.04.40 | 200 000.00 | 233 930.00 | 0.68 |
| EUR	AUSNET SERVICES HOLDINGS PTY LTD-REG-S 0.62500% 20-25.08.30 | 300 000.00 | 291 152.40 | 0.84 |
| EUR	BP CAPITAL MARKETS PLC-REG-S 2.82200% 20-07.04.32 | 300 000.00 | 329 445.00 | 0.95 |
| EUR	CIE DE SAINT-GOBAIN-REG-S 2.37500% 20-04.10.27 | 100 000.00 | 105 960.00 | 0.31 |
| EUR	ENEL FINANCE INTERNATIONAL NV-REG-S 1.37500% 16-01.06.26 | 600 000.00 | 625 693.50 | 1.81 |
| EUR	FORD MOTOR CREDIT CO LLC 1.51400% 19-17.02.23 | 100 000.00 | 89 000.00 | 0.26 |
| Total EUR |  | 1 675 180.90 | 4.85 |
| Total Notes, fester Zins |  | 1 675 180.90 | 4.85 |
| Notes, variabler Zins |  |  |  |
| EUR |  |  |  |
| EUR	AUSTRALIA & NZ BANKING GRP-REG-S-SUB 1.125%/VAR 19-21.11.29 | 200 000.00 | 192 634.00 | 0.56 |
| Total EUR |  | 192 634.00 | 0.56 |
| Total Notes, variabler Zins |  | 192 634.00 | 0.56 |
| Medium-Term Notes, fester Zins |  |  |  |
| EUR |  |  |  |
| EUR	ABERTIS INFRAESTRUCTURAS SA-REG-S 2.37500% 19-27.09.27 | 100 000.00 | 97 294.08 | 0.28 |
| EUR	ABERTIS INFRAESTRUCTURAS SA-REG-S 3.00000% 19-27.03.31 | 200 000.00 | 198 944.40 | 0.58 |
| EUR	ABN AMRO BANK NV-REG-S-SUB 7.12500% 12-06.07.22 | 300 000.00 | 334 831.89 | 0.97 |
| EUR	AIB GROUP PLC-REG-S 1.25000% 19-28.05.24 | 100 000.00 | 97 320.46 | 0.28 |
| EUR	ANGLO AMERICAN CAPITAL PLC-REG-S 1.62500% 17-18.09.25 | 200 000.00 | 202 160.00 | 0.59 |
| EUR	APRR SA-REG-S 1.62500% 17-13.01.32 | 100 000.00 | 105 294.00 | 0.30 |
| EUR	ASSICURAZIONI GENERALI SPA-REG-S-SUB 4.12500% 14-04.05.26 | 200 000.00 | 216 750.00 | 0.63 |
| EUR	AUTOSTRADE PER L’ITALIA SPA 4.37500% 10-16.09.25 | 100 000.00 | 103 909.40 | 0.30 |
| EUR	BANCO BILBAO VIZCAYA ARGENTARIA-REG-S 0.37500% 19-02.10.24 | 300 000.00 | 286 855.80 | 0.83 |
| EUR	BANK OF AMERICA CORP-REG-S 1.37500% 15-26.03.25 | 300 000.00 | 308 339.40 | 0.89 |
| EUR	BANQUE FEDER DU CREDIT MUTUEL-REG-S-SUB 2.37500% 16-24.03.26 | 600 000.00 | 621 960.00 | 1.80 |
| EUR	BARCLAYS BANK PLC-SUB 6.62500% 11-30.03.22 | 175 000.00 | 188 983.90 | 0.55 |
| EUR	BMW FINANCE NV-REG-S 2.62500% 14-17.01.24 | 100 000.00 | 107 075.20 | 0.31 |
| EUR	BNP PARIBAS SA-REG-S 1.37500% 19-28.05.29 | 200 000.00 | 206 028.40 | 0.60 |
| EUR	BNP PARIBAS SA-REG-S 1.50000% 17-17.11.25 | 200 000.00 | 206 150.00 | 0.60 |
| EUR	BP CAPITAL MARKETS PLC-REG-S 1.59400% 18-03.07.28 | 400 000.00 | 398 580.00 | 1.15 |
| EUR	BPCE SA-REG-S 1.12500% 17-18.01.23 | 100 000.00 | 100 695.40 | 0.29 |
| EUR	CIE DE SAINT-GOBAIN-REG-S 1.12500% 18-23.03.26 | 400 000.00 | 396 107.62 | 1.15 |
| EUR	CITIGROUP INC-REG-S 1.50000% 16-26.10.28 | 300 000.00 | 309 925.20 | 0.90 |
| EUR	CREDIT AGRICOLE SA LONDON 2.37500% 14-20.05.24 | 300 000.00 | 324 494.40 | 0.94 |
| EUR	CREDIT AGRICOLE SA LONDON-REG-S 1.87500% 16-20.12.26 | 300 000.00 | 316 230.00 | 0.92 |
| EUR	DEUTSCHE BAHN FINANCE GMBH-REG-S 0.75000% 20-16.07.35 | 100 000.00 | 101 585.80 | 0.29 |
| EUR	DEUTSCHE BANK AG-REG-S 1.62500% 19-12.02.21 | 200 000.00 | 198 184.80 | 0.57 |
| EUR	DEUTSCHE BANK-REG-S 2.37500% 13-11.01.23 | 200 000.00 | 198 855.20 | 0.58 |
| EUR	DEUTSCHE TELEKOM AG-REG-S 2.25000% 19-29.03.39 | 100 000.00 | 117 402.60 | 0.34 |
| EUR	DEUTSCHE TELEKOM INTL FINANCE BV-REG-S 1.50000% 16-03.04.28 | 400 000.00 | 425 507.20 | 1.23 |
| EUR	DIAGEO FINANCE PLC-REG-S 1.75000% 14-23.09.24 | 300 000.00 | 315 051.00 | 0.91 |
| EUR	DIAGEO FINANCE PLC-REG-S 1.00000% 18-22.04.25 | 100 000.00 | 101 902.46 | 0.30 |
| EUR	ENGIE SA-REG-S 1.75000% 20-27.03.28 | 100 000.00 | 108 876.60 | 0.32 |
| EUR	ENGIE SA-REG-S 2.37500% 14-19.05.26 | 100 000.00 | 111 606.33 | 0.32 |
| EUR	EUROGRID GMBH-REG-S 1.50000% 16-18.04.28 | 300 000.00 | 315 090.00 | 0.91 |
| EUR	EUROPEAN INVESTMENT BANK 3.00000% 13-14.10.33 | 600 000.00 | 840 988.80 | 2.44 |
| EUR	FORD MOTOR CREDIT CO LLC 3.02100% 19-06.03.24 | 100 000.00 | 88 613.20 | 0.26 |
| EUR	GE CAPITAL EUROPEAN FUNDING 4.62500% 07-22.02.27 | 200 000.00 | 230 530.00 | 0.67 |
| EUR	GE CAPITAL EUROPEAN FUNDING-REG-S 0.80000% 15-21.01.22 | 420 000.00 | 415 353.12 | 1.20 |
| EUR	GENERAL MOTORS FINANCIAL CO INC-REG-S 0.95500% 16-07.09.23 | 200 000.00 | 176 624.40 | 0.51 |
| EUR	GENERAL MOTORS FINANCIAL CO INC-REG-S 1.69400% 18-26.03.25 | 200 000.00 | 173 415.20 | 0.50 |
| EUR	GLENCORE FINANCE EUROPE SA-REG-S 1.75000% 15-17.03.25 | 400 000.00 | 391 248.52 | 1.13 |
| EUR	GOLDMAN SACHS GROUP INC-REG-S 1.62500% 16-27.07.26 | 400 000.00 | 409 824.00 | 1.19 |
| EUR	HEIDELBERGCEMENT AG-REG-S 1.50000% 16-07.02.25 | 100 000.00 | 98 996.00 | 0.29 |
| EUR	HOLCIM FINANCE LUXEMBOURG SA-REG-S 2.25000% 16-26.05.28 | 100 000.00 | 103 513.00 | 0.30 |
| EUR	HSBC HOLDINGS PLC-SUB 3.00000% 15-30.06.25 | 200 000.00 | 212 595.20 | 0.62 |
| EUR	INNOGY FINANCE II BV-REG-S 5.75000% 03-14.02.33 | 100 000.00 | 154 595.00 | 0.45 |
| EUR	JPMORGAN CHASE & CO-REG-S 1.50000% 15-27.01.25 | 400 000.00 | 414 080.00 | 1.20 |
| EUR	LANDESBANK BADEN-WUERTTEMBERG-REG-S-SUB 3.62500% 15-16.06.25 | 200 000.00 | 205 154.00 | 0.59 |
| EUR	LLOYDS BANK PLC-REG-S 1.25000% 15-13.01.25 | 100 000.00 | 103 040.00 | 0.30 |
| EUR	LOGICOR FINANCING SARL-REG-S 3.25000% 18-13.11.28 | 200 000.00 | 204 793.60 | 0.59 |
| EUR	LOGICOR FINANCING SARL-REG-S 1.62500% 19-15.07.27 | 300 000.00 | 284 880.00 | 0.83 |
| EUR	MORGAN STANLEY 1.75000% 15-30.01.25 | 400 000.00 | 415 940.00 | 1.21 |
| EUR	MORGAN STANLEY 1.87500% 17-27.04.27 | 200 000.00 | 212 134.00 | 0.61 |
| EUR	NATWEST MARKETS PLC-REG-S 1.00000% 19-28.05.24 | 200 000.00 | 194 473.20 | 0.56 |
| EUR	OP CORPORATE BANK PLC-REG-S-SUB 5.75000% 12-28.02.22 | 209 000.00 | 226 357.37 | 0.66 |
| EUR	ORANGE SA 1.12500% 19-15.07.24 | 300 000.00 | 309 621.00 | 0.90 |
| EUR	ORANGE SA-REG-S 1.37500% 18-20.03.28 | 300 000.00 | 321 558.60 | 0.93 |
| EUR	RAIFFEISEN BANK INTL AG-SUB 6.62500% 11-18.05.21 | 100 000.00 | 103 822.40 | 0.30 |
| EUR	SANOFI-REG-S 0.87500% 19-21.03.29 | 100 000.00 | 106 221.90 | 0.31 |
| EUR	SANOFI-REG-S 1.37500% 18-21.03.30 | 200 000.00 | 222 579.60 | 0.64 |
| EUR	SANTANDER CONSUMER FINANCE SA-REG-S 0.87500% 18-30.05.23 | 100 000.00 | 99 285.36 | 0.29 |
| EUR	SCHAEFFLER AG-REG-S 1.87500% 19-26.03.24 | 100 000.00 | 94 875.00 | 0.27 |
| EUR	SCHAEFFLER AG-REG-S 2.87500% 19-26.03.27 | 100 000.00 | 92 000.00 | 0.27 |
| EUR	SKY PLC-REG-S 2.50000% 14-15.09.26 | 200 000.00 | 223 059.38 | 0.65 |
| EUR	SOCIETE GENERALE-REG-S 1.25000% 19-15.02.24 | 200 000.00 | 201 487.60 | 0.58 |
| EUR	SUMITOMO MITSUI FIN GP INC-REG-S 0.81900% 18-23.07.23 | 600 000.00 | 593 869.32 | 1.72 |
| EUR	TELEFONICA EMISIONES SA-REG-S 1.46000% 16-13.04.26 | 200 000.00 | 207 384.82 | 0.60 |

UBS (Lux) SICAV 2 – EUR Corporate Bond Sustainable (EUR) Halbjahresbericht per 30. April 2020
|  | Bezeichnung | Anzahl/ | Bewertung in EUR | in % des |
| --- | --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
|  |  |  |  |  |
| EUR | UNICREDITO ITALIANO SPA 1.00000% 18-18.01.23 | 400 000.00 | 384 947.20 | 1.12 |
| EUR | UNION FENOSA FINANCE BV-REG-S 1.25000% 20-15.01.26 | 200 000.00 | 205 584.00 | 0.60 |
| EUR | VEOLIA ENVIRONNEMENT-REG-S 0.89200% 19-14.01.24 | 100 000.00 | 101 815.00 | 0.29 |
| EUR | VEOLIA ENVIRONNEMENT SA-REG-S 1.25000% 20-15.04.28 | 100 000.00 | 104 557.00 | 0.30 |
| EUR | VERIZON COMMUNICATIONS INC 3.25000% 14-17.02.26 | 300 000.00 | 348 600.00 | 1.01 |
| EUR | VINCI SA-REG-S 1.62500% 19-18.01.29 | 200 000.00 | 212 024.00 | 0.61 |
| EUR | VODAFONE GROUP PLC-REG-S 1.60000% 16-29.07.31 | 200 000.00 | 210 746.00 | 0.61 |
| Total EUR |  |  | 16 823 178.33 | 48.74 |
| Total Medium-Term Notes, fester Zins |  | 16 823 178.33 | 48.74 |
| Medium-Term Notes, Nullcoupon |  |  |  |
| EUR |  |  |  |
| EUR	E.ON SE-REG-S 0.00000% 19-28.08.24 | 100 000.00 | 98 836.80 | 0.29 |
| Total EUR |  | 98 836.80 | 0.29 |
| Total Medium-Term Notes, Nullcoupon |  | 98 836.80 | 0.29 |
| Medium-Term Notes, variabler Zins |  |  |  |
| EUR |  |  |  |
| EUR	ALLIANZ FINANCE II-SUB 5.750%/3M EURIBOR+334.9BP 11-08.07.41 | 100 000.00 | 105 119.80 | 0.31 |
| EUR	ALLIANZ SE-REG-S-SUB 4.750%/3M EURIBOR+360BP 13-PRP | 300 000.00 | 332 178.00 | 0.96 |
| EUR	AVIVA PLC-REG-S-SUB 3.375%/VAR 15-04.12.45 | 300 000.00 | 320 802.60 | 0.93 |
| EUR	AVIVA PLC-SUB 6.125%/VAR 13-05.07.43 | 200 000.00 | 226 037.20 | 0.66 |
| EUR	AXA SA-REG-S-SUB 3.375%/VAR 16-06.07.47 | 100 000.00 | 110 934.00 | 0.32 |
| EUR	AXA SA-REG-S-SUB 3.941%/VAR 14-PRP | 200 000.00 | 216 000.00 | 0.63 |
| EUR	BNP PARIBAS SA-REG-S 1.125%/VAR 20-17.04.29 | 100 000.00 | 99 820.00 | 0.29 |
| EUR	BNP PARIBAS-REG-S 2.125%/VAR 19-23.01.27 | 200 000.00 | 211 911.60 | 0.61 |
| EUR	CITIGROUP INC-SUB 4.250%/FLR 05-25.02.30 | 100 000.00 | 111 167.00 | 0.32 |
| EUR	COMMONWEALTH BK OF AUSTRLIA-REG-S-SUB 1.936%/VAR 17-03.10.29 | 200 000.00 | 199 732.00 | 0.58 |
| EUR	CREDIT SUISSE GROUP AG-REG-S 3.250%/VAR 20-02.04.26 | 100 000.00 | 108 483.00 | 0.31 |
| EUR	DANONE SA-REG-S-SUB 1.750%/VAR 17-PRP | 300 000.00 | 296 625.00 | 0.86 |
| EUR	DANSKE BANK AS-REG-S-SUB 2.500%/VAR 19-21.06.29 | 100 000.00 | 100 812.40 | 0.29 |
| EUR	DBS GROUP HOLDINGS LTD-REG-S-SUB 1.500%/VAR 18-11.04.28 | 200 000.00 | 196 828.42 | 0.57 |
| EUR	ELECTRICITE DE FRANCE SA-REG-S-SUB 5.000%/VAR 14-PRP | 100 000.00 | 102 720.20 | 0.30 |
| EUR	ENBW ENERGIE BADEN-WUERTT-REG-S-SUB 3.625%/VAR 14-02.04.76 | 400 000.00 | 405 412.00 | 1.17 |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S-SUB 2.625%/VAR 18-PRP | 600 000.00 | 614 280.00 | 1.78 |
| EUR	ING BANK NV-SUB 3.625%/VAR 14-25.02.26 | 470 000.00 | 476 307.40 | 1.38 |
| EUR	ING GROEP NV-SUB 3.000%/VAR 17-11.04.28 | 200 000.00 | 206 139.20 | 0.60 |
| EUR	JPMORGAN CHASE & CO-REG-S 1.047%/VAR 19-04.11.32 | 100 000.00 | 97 309.80 | 0.28 |
| EUR	JPMORGAN CHASE & CO-REG-S 0.389%/3M EURIBOR+65BP 20-24.02.28 | 400 000.00 | 382 896.00 | 1.11 |
| EUR	LA BANQUE POSTALE-REG-S-SUB-2.750%/VAR 14-23.04.26 | 300 000.00 | 300 366.00 | 0.87 |
| EUR	NORDEA BANK ABP-REG-S-SUB 1.000%/VAR 16-07.09.26 | 400 000.00 | 394 056.00 | 1.14 |
| EUR	SVENSKA HANDELSBANKEN AB-REG-S-SUB 1.250%/VAR 18-02.03.28 | 200 000.00 | 199 012.00 | 0.58 |
| EUR	TOTAL SA-REG-S-SUB 2.250%/VAR 15-PRP | 300 000.00 | 294 750.00 | 0.85 |
| EUR	TOTAL SA-REG-S-SUB 3.369%/VAR 16-PRP | 200 000.00 | 207 986.40 | 0.60 |
| Total EUR |  | 6 317 686.02 | 18.30 |
| Total Medium-Term Notes, variabler Zins |  | 6 317 686.02 | 18.30 |
| Anleihen, fester Zins |  |  |  |
| EUR |  |  |  |
| EUR	ARGENTUM NETHERLANDS BV FOR GIV-REG-S 1.12500% 18-17.09.25 | 400 000.00 | 413 888.80 | 1.20 |
| EUR	ARGENTUM NETHERLANDS BV FOR GIV-REG-S 2.00000% 18-17.09.30 | 100 000.00 | 108 955.00 | 0.32 |
| EUR	AT&T INC 2.60000% 14-17.12.29 | 200 000.00 | 224 479.70 | 0.65 |
| EUR	AT&T INC 3.50000% 13-17.12.25 | 300 000.00 | 341 858.40 | 0.99 |
| EUR	BAYER CAPITAL CORP BV-REG-S 0.62500% 18-15.12.22 | 200 000.00 | 200 514.00 | 0.58 |
| EUR	COCA-COLA EUROPEAN PARTNERS PLC-REG-S 1.75000% 16-26.05.28 | 500 000.00 | 527 094.00 | 1.53 |
| EUR	CREDIT AGRICOLE SA-REG-S-SUB 2.62500% 15-17.03.27 | 100 000.00 | 108 606.80 | 0.31 |
| EUR	GIE PSA TRESORERIE 6.00000% 03-19.09.33 | 100 000.00 | 121 763.40 | 0.35 |
| EUR	GOLDMAN SACHS GROUP INC-SUB 4.75000% 06-12.10.21 | 160 000.00 | 166 693.12 | 0.48 |
| EUR	LANDESBANK BADEN-WUERTTEMBERG-REG-S-SUB 2.87500% 16-28.09.26 | 100 000.00 | 97 174.40 | 0.28 |
| EUR	MOLSON COORS BREWING CO 1.25000% 16-15.07.24 | 300 000.00 | 292 018.80 | 0.85 |
| EUR	NOVARTIS FINANCE SA-REG-S 1.37500% 18-14.08.30 | 100 000.00 | 110 120.20 | 0.32 |
| EUR	RABOBANK NEDERLAND NV-SUB 3.87500% 13-25.07.23 | 300 000.00 | 324 479.40 | 0.94 |
| EUR	THERMO FISHER SCIENTIFIC INC 0.75000% 16-12.09.24 | 200 000.00 | 201 545.38 | 0.58 |
| EUR	WINTERSHALL DEA FINANCE-REG-S 1.82300% 19-25.09.31 | 300 000.00 | 246 675.36 | 0.72 |
| Total EUR |  | 3 485 866.76 | 10.10 |
| Total Anleihen, fester Zins |  | 3 485 866.76 | 10.10 |
| Anleihen, variabler Zins |  |  |  |
| EUR |  |  |  |
| EUR	ALLIANDER NV-REG-S-SUB 1.625%/VAR 18-PRP | 300 000.00 | 298 875.00 | 0.87 |
| EUR	ALLIANZ SE-REG-S-SUB 1.301%/3M EURIBOR+235BP 19-25.09.49 | 100 000.00 | 98 750.00 | 0.29 |
| EUR	BHP BILLITON FINANCE LTD-REG-S-SUB 5.625%/VAR 15-22.10.79 | 300 000.00 | 334 001.40 | 0.97 |
| EUR	BNP PARIBAS SA-REG-S-SUB 6.125%/VAR 15-PRP | 200 000.00 | 203 500.00 | 0.59 |
| EUR	CENTRICA PLC-REG-S-SUB 3.000%/VAR 15-10.04.76 | 100 000.00 | 97 986.00 | 0.28 |
| EUR	DEUTSCHE BAHN FINANCE GMBH-REG-S-SUB 0.950%/VAR 19-PRP | 300 000.00 | 294 000.00 | 0.85 |
| EUR	ENGIE SA-REG-S-SUB 1.375%/VAR 18-PRP | 200 000.00 | 195 584.00 | 0.57 |
| EUR	ENGIE SA-REG-S-SUB 3.87500%/VAR 14-PRP | 200 000.00 | 211 901.32 | 0.61 |
| EUR	HOLCIM FINANCE LUXEMBOURG SA-REG-S-SUB 3.000%/VAR 19-PRP | 200 000.00 | 195 444.00 | 0.57 |
| EUR	MERCK KGAA-REG-S-SUB 2.625%/VAR 14-12.12.74 | 100 000.00 | 100 688.40 | 0.29 |
| EUR	RABOBANK NEDERLAND NV-REG-S-SUB 2.500%/VAR 14-26.05.26 | 300 000.00 | 300 181.20 | 0.87 |
| EUR	RABOBANK NEDERLAND NV-REG-S-SUB 3.250%/VAR 19-PRP | 200 000.00 | 182 500.00 | 0.53 |
| EUR	SOCIETE GENERALE-REG-S-SUB 6.750%/VAR 14-PRP | 200 000.00 | 200 074.40 | 0.58 |
| EUR	SSE PLC-REG-S-SUB 2.375%/VAR 15-PRP | 100 000.00 | 98 161.20 | 0.28 |
| EUR	SWISS RE FINANCE LUX SA-REG-S-SUB 2.534%/VAR 19-30.04.50 | 300 000.00 | 312 795.60 | 0.91 |
| EUR	TELEFONICA EUROPE BV-REG-S-SUB 3.000%/VAR 18-PRP | 300 000.00 | 290 322.60 | 0.84 |

UBS (Lux) SICAV 2 – EUR Corporate Bond Sustainable (EUR)
Halbjahresbericht per 30. April 2020
|  | Bezeichnung | Anzahl/ | Bewertung in EUR | in % des |
| --- | --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
|  |  |  |  |  |
| EUR | UBS GROUP AG-REG-S 1.250%/VAR 18-17.04.25 | 400 000.00 | 405 168.00 | 1.17 |
| EUR | UBS GROUP AG-REG-S-SUB 5.750%/VAR 15-PRP | 200 000.00 | 206 436.00 | 0.60 |
| EUR | VOLKSWAGEN INTL FINANCE NV-REG-S-SUB 3.500%/VAR 15-PRP | 100 000.00 | 94 518.08 | 0.27 |
| EUR | VOLKSWAGEN INTL FINANCE NV-REG-S-SUB 4.625%/VAR 18-PRP | 200 000.00 | 199 490.40 | 0.58 |
| Total EUR |  |  | 4 320 377.60 | 12.52 |
| Total Anleihen, variabler Zins | 4 320 377.60 | 12.52 |
| Total Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden | 32 913 760.41 | 95.36 |

OGAW/Andere OGA im Sinne des Artikels 41 (1) e) des abgeänderten luxemburgischen Gesetzes vom 17. Dezember 2010
Investment Fonds, open end
Irland
| EUR | UBS (IRL) SELECT MONEY MARKET FUND-EUR-S-DIST | 45.48 | 451 854.58 | 1.31 |
| --- | --- | --- | --- | --- |
| Total Irland | 451 854.58 | 1.31 |
| Total Investment Fonds, open end | 451 854.58 | 1.31 |
| Total OGAW/Andere OGA im Sinne des Artikels 41 (1) e) des abgeänderten luxemburgischen Gesetzes vom 17. Dezember 2010 | 451 854.58 | 1.31 |
| Total des Wertpapierbestandes | 33 365 614.99 | 96.67 |

| Derivative Instrumente |  |
| --- | --- |
| Derivative Instrumente, die an einer offiziellen Börse gehandelt werden Finanzterminkontrakte auf Anleihen |
|  |  |  |  |
| EUR	EURO-BUND FUTURE 08.06.20 | 5.00 | -3 530.00 | -0.01 |
| Total Finanzterminkontrakte auf Anleihen |  | -3 530.00 | -0.01 |
| Total Derivative Instrumente, die an einer offiziellen Börse gehandelt werden |  | -3 530.00 | -0.01 |

Derivative Instrumente, die nicht an einer offiziellen Börse oder einem anderen geregelten Markt gehandelt werden
Credit-Default-Swaps*
| EUR | ICE/ITRX.XOVER.32-V1 CDI PAYER 5.00000% 19-20.12.24 | -400 000.00 | -6 636.53 | -0.02 |
| --- | --- | --- | --- | --- |
| Total Credit-Default-Swaps | -6 636.53 | -0.02 |
| Total Derivative Instrumente, die nicht an einer offiziellen Börse oder einem anderen geregelten Markt gehandelt werden | -6 636.53 | -0.02 |
| Total Derivative Instrumente | -10 166.53 | -0.03 |
|  |  |  |
| Bankguthaben, Sicht- und Fristgelder und andere liquide Mittel | 1 081 131.67 | 3.13 |
| Andere Aktiva und Passiva | 80 186.21 | 0.23 |
| Total des Nettovermögens | 34 516 766.34 | 100.00 |
| * Nominal positiv: der Subfonds ist «Receiver», Nominal negativ: der Subfonds ist «Payer». |  |  |

UBS (Lux) SICAV 2 – EUR Corporate Bond Sustainable (EUR) Halbjahresbericht per 30. April 2020