# UBS (Lux) Bond SICAV – Global Dynamic (USD)
| Most important figures |  |
| --- | --- |
|  | ISIN | 30.11.2019 | 31.5.2019 | 31.5.2018 |
| Net assets in USD |  | 691 356 719.25 | 345 226 235.61 | 166 898 136.08 |
| Class (EUR hedged) F-acc | LU1287054065 |  |  |  |
| Shares outstanding |  | 39 312.0000 | 39 312.0000 | 73 800.0000 |
| Net asset value per share in EUR |  | 108.07 | 104.31 | 100.48 |
| Issue and redemption price per share in EUR 1 |  | 108.07 | 104.31 | 100.48 |
| Class (EUR hedged) I-B-acc | LU1193130314 |  |  |  |
| Shares outstanding |  | 71 888.0010 | 76 930.6480 | 252 859.7350 |
| Net asset value per share in EUR |  | 115.08 | 110.81 | 106.22 |
| Issue and redemption price per share in EUR 1 |  | 115.08 | 110.81 | 106.22 |
| Class I-X-acc | LU1138686867 |  |  |  |
| Shares outstanding |  | 148 191.2100 | 155 684.2320 | 150 835.7230 |
| Net asset value per share in USD |  | 127.10 | 120.66 | 112.24 |
| Issue and redemption price per share in USD 1 |  | 127.10 | 120.66 | 112.24 |
| Class (CHF hedged) I-X-acc | LU1557225098 |  |  |  |
| Shares outstanding |  | 220 913.2110 | 76 329.2180 | 24 566.0930 |
| Net asset value per share in CHF |  | 118.64 | 114.44 | 110.00 |
| Issue and redemption price per share in CHF 1 |  | 118.64 | 114.44 | 110.00 |
| Class (EUR hedged) I-X-acc | LU1822788151 |  |  |  |
| Shares outstanding |  | 18 095.2770 | 147 615.8720 | 100.0000 |
| Net asset value per share in EUR |  | 108.35 | 104.29 | 99.91 |
| Issue and redemption price per share in EUR 1 |  | 108.35 | 104.29 | 99.91 |
| Class K-X-acc 2 | LU1860987145 |  |  |  |
| Shares outstanding |  | 78 158.3670 | 78 158.3670 | - |
| Net asset value per share in USD |  | 112.54 | 106.86 | - |
| Issue and redemption price per share in USD 1 |  | 112.54 | 106.86 | - |
| Class K-X-dist 3 | LU1917356179 |  |  |  |
| Shares outstanding |  | 100 000.0000 | - | - |
| Net asset value per share in USD |  | 102.48 | - | - |
| Issue and redemption price per share in USD 1 |  | 102.48 | - | - |
| Class P-4%-mdist 4 | LU2051222904 |  |  |  |
| Shares outstanding |  | 32 707.1080 | - | - |
| Net asset value per share in USD |  | 101.20 | - | - |
| Issue and redemption price per share in USD 1 |  | 101.20 | - | - |
| Class P-acc | LU0891671751 |  |  |  |
| Shares outstanding |  | 372 894.4140 | 153 812.5500 | 82 301.5820 |
| Net asset value per share in USD |  | 123.57 | 118.15 | 111.50 |
| Issue and redemption price per share in USD 1 |  | 123.57 | 118.15 | 111.50 |
| Class (CHF hedged) P-acc | LU0891672213 |  |  |  |
| Shares outstanding |  | 179 130.8870 | 163 166.4700 | 83 901.6530 |
| Net asset value per share in CHF |  | 109.93 | 106.82 | 104.16 |
| Issue and redemption price per share in CHF 1 |  | 109.93 | 106.82 | 104.16 |
| Class (EUR hedged) P-acc | LU0891672056 |  |  |  |
| Shares outstanding |  | 1 141 157.2980 | 371 635.5540 | 189 914.0200 |
| Net asset value per share in EUR |  | 113.30 | 109.85 | 106.77 |
| Issue and redemption price per share in EUR 1 |  | 113.30 | 109.85 | 106.77 |
| Class P-dist | LU0891671835 |  |  |  |
| Shares outstanding |  | 52 951.8220 | 22 159.6960 | 5 070.3840 |
| Net asset value per share in USD |  | 111.74 | 107.64 | 103.00 |
| Issue and redemption price per share in USD 1 |  | 111.74 | 107.64 | 103.00 |
| Class (CHF hedged) P-dist | LU0891672304 |  |  |  |
| Shares outstanding |  | 41 250.0060 | 38 696.4800 | 36 827.5790 |
| Net asset value per share in CHF |  | 99.32 | 97.24 | 96.19 |
| Issue and redemption price per share in CHF 1 |  | 99.32 | 97.24 | 96.19 |
| Class (EUR hedged) P-dist | LU0891672130 |  |  |  |
| Shares outstanding |  | 137 904.4800 | 69 975.8500 | 28 108.0600 |
| Net asset value per share in EUR |  | 102.20 | 99.86 | 98.46 |
| Issue and redemption price per share in EUR 1 |  | 102.20 | 99.86 | 98.46 |
| Class Q-4%-mdist 5 | LU2038039314 |  |  |  |
| Shares outstanding |  | 68 522.4290 | - | - |
| Net asset value per share in USD |  | 100.63 | - | - |
| Issue and redemption price per share in USD 1 |  | 100.63 | - | - |
| Class Q-acc | LU1240774783 |  |  |  |
| Shares outstanding |  | 549 283.3060 | 109 344.1960 | 44 660.4030 |
| Net asset value per share in USD |  | 121.15 | 115.50 | 108.35 |
| Issue and redemption price per share in USD 1 |  | 121.15 | 115.50 | 108.35 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Semi-Annual Report as of 30 November 2019
|  | ISIN | 30.11.2019 | 31.5.2019 | 31.5.2018 |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Class (CHF hedged) Q-acc | LU1240774437 |  |  |  |
| Shares outstanding |  | 393 463.8660 | 223 158.2510 | 229 726.8440 |
| Net asset value per share in CHF |  | 108.92 | 105.52 | 102.28 |
| Issue and redemption price per share in CHF 1 |  | 108.92 | 105.52 | 102.28 |
| Class (EUR hedged) Q-acc | LU1240774601 |  |  |  |
| Shares outstanding |  | 1 718 159.9830 | 1 041 535.4190 | 153 253.3920 |
| Net asset value per share in EUR |  | 110.98 | 107.28 | 103.66 |
| Issue and redemption price per share in EUR 1 |  | 110.98 | 107.28 | 103.66 |
| Class Q-dist | LU1240774866 |  |  |  |
| Shares outstanding |  | 213 332.5260 | 57 642.8900 | 11 864.7890 |
| Net asset value per share in USD |  | 112.32 | 108.51 | 103.79 |
| Issue and redemption price per share in USD 1 |  | 112.32 | 108.51 | 103.79 |
| Class (CHF hedged) Q-dist | LU1240774510 |  |  |  |
| Shares outstanding |  | 146 100.9680 | 109 190.2340 | 61 646.1860 |
| Net asset value per share in CHF |  | 100.87 | 99.05 | 97.98 |
| Issue and redemption price per share in CHF 1 |  | 100.87 | 99.05 | 97.98 |
| Class (EUR hedged) Q-dist | LU1109640307 |  |  |  |
| Shares outstanding |  | 78 845.7890 | 51 633.6620 | 30 181.2360 |
| Net asset value per share in EUR |  | 101.28 | 99.27 | 97.88 |
| Issue and redemption price per share in EUR 1 |  | 101.28 | 99.27 | 97.88 |
| 1  See note 1 2  First NAV: 28.8.2018 3  First NAV: 17.7.2019 4  First NAV: 24.9.2019 5  First NAV: 10.9.2019 |  |  |  |  |


## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
United States	40.21
New Zealand	16.22
Mexico	5.20
Italy	4.02
China	2.85
Luxembourg	2.23
United Kingdom	2.17
Ireland	2.13
South Africa	1.96
Japan	1.93
Slovenia	1.61
The Netherlands	1.40
France	1.36
Chile	0.70
Saudi Arabia	0.70
Brazil	0.69
Sweden	0.66
Romania	0.59
Morocco	0.57
Greece	0.54
Kazakhstan	0.54
Ghana	0.47
Guatemala	0.45
Costa Rica	0.43
Germany	0.43
Australia	0.43
Indonesia	0.34
Denmark	0.31
Switzerland	0.26
British Virgin Islands	0.21
Spain	0.20
Turkey	0.19
Mongolia	0.19
Norway	0.19
Portugal	0.19
Canada	0.18
Nigeria	0.16
Egypt	0.16
Peru	0.14
Oman	0.14
Argentina	0.14
Sri Lanka	0.14
Colombia	0.11
Uruguay	0.10
Poland	0.10
Ukraine	0.10
Belgium	0.09
Kenya	0.08
India	0.08
Ecuador	0.07
Hong Kong	0.07
Hungary	0.07
Jersey	0.04
Bermuda	0.03
Cayman Islands	0.03
Venezuela	0.01
Economic Breakdown as a % of net assets	
Countries & central governments	63.56
Banks & credit institutions	6.53
Mortgage & funding institutions	6.52
Finance & holding companies	4.70
Miscellaneous unclassified companies	2.73
Investment funds	2.07
Telecommunications	1.19
Petroleum	1.11
Energy & water supply	0.72
Pharmaceuticals, cosmetics & medical products	0.70
Internet, software & IT services	0.61
Traffic & transportation	0.57
Insurance	0.51
Miscellaneous services	0.49
Real Estate	0.44
Computer hardware & network equipment providers	0.40
Healthcare & social services	0.35
Vehicles	0.26
Tobacco & alcohol	0.21
Packaging industry	0.18
Food & soft drinks	0.15
Chemicals	0.11
Graphic design, publishing & media	0.11
Building industry & materials	0.08
Aerospace industry	0.08
Precious metals & stones	0.06
Biotechnology	0.05
Agriculture & fishery	0.05
Mining, coal & steel	0.04
Electrical devices & components	0.03
Total	94.61
Total	94.61
UBS (Lux) Bond SICAV – Global Dynamic (USD) Semi-Annual Report as of 30 November 2019

## Statement of Net Assets
Assets	30.11.2019
USD
Investments in securities, cost	629 597 321.94
Investments in securities, unrealized appreciation (depreciation)		24 515 354.91	 Total investments in securities (Note 1)			654 112 676.85
Cash at banks, deposits on demand and deposit accounts	34 678 722.26*
Other liquid assets (Margins)	19 990 399.27
Receivable on subscriptions	7 529 309.97
Interest receivable on securities	5 527 589.76
Interest receivable on liquid assets	893.52
Receivable on dividends	43 751.95
Unrealized gain (loss) on financial futures (Note 1)	3 563 979.41
Unrealized gain (loss) on forward foreign exchange contracts (Note 1)	801 067.18
Unrealized gain (loss) on swaps (Note 1)	-5 595 052.09
Bank overdraft	-16 790 282.63
Payable on securities purchases (Note 1)	-11 828 572.01
Payable on redemptions	-382 351.96
Provisions for flat fee (Note 2)	-227 127.50
Provisions for taxe d’abonnement (Note 3)	-53 135.94
Provisions for other commissions and fees (Note 2)		-15 148.79		 Total provisions			-295 412.23

## Statement of Operations
USD
Interest on liquid assets	126 935.74
Interest on securities	6 774 915.98
Dividends	204 316.56
Interest received on swaps (Note 1)	11 549 303.55
Income on securities lending (Note 13)	92 168.37
Other income (Note 4)	73 809.62
Interest paid on swaps (Note 1)	-12 032 858.18
Flat fee (Note 2)	-2 244 818.10
Taxe d’abonnement (Note 3)	-131 118.44
Cost on securities lending (Note 13)	-36 867.35
Other commissions and fees (Note 2)	-28 187.83
Interest on cash and bank overdraft	-79 646.98
Realized gain (loss) on market-priced securities without options	4 581 809.64
Realized gain (loss) on financial futures	-6 762 011.75
Realized gain (loss) on forward foreign exchange contracts	-10 285 625.98
Realized gain (loss) on swaps	-2 426 037.13
Realized gain (loss) on foreign exchange	3 695 358.96
Unrealized appreciation (depreciation) on market-priced securities without options	12 087 891.36
Unrealized appreciation (depreciation) on financial futures	6 678 684.22
Unrealized appreciation (depreciation) on forward foreign exchange contracts	-1 902 671.84
Unrealized appreciation (depreciation) on swaps	3 884 063.40
* As at 30 November 2019, cash amounts serve as collateral for the counterparty Goldman Sachs for an amount of USD 380 000.00, Bank of America for an amount of USD 840 000.00, and Citibank for an amount of USD 380 000.00.
UBS (Lux) Bond SICAV – Global Dynamic (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 | 345 226 235.61 |
| Subscriptions | 388 243 201.70 |
| Redemptions | 	-55 234 223.52	 |
| Total net subscriptions (redemptions) | 333 008 978.18 |
| Dividend paid | -697 908.36 |
| Net income (loss) on investments | 4 267 952.94 |
| Total realized gain (loss) | -11 196 506.26 |
| Total changes in unrealized appreciation (depreciation) | 	20 747 967.14	 |
| Net increase (decrease) in net assets as a result of operations | 13 819 413.82 |
| Net assets at the end of the period | 691 356 719.25 |
| Changes in the Number of Shares outstanding |  |
|  | 1.6.2019-30.11.2019 |
| Class | (EUR hedged) F-acc |
| Number of shares outstanding at the beginning of the period | 39 312.0000 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 39 312.0000 |
| Class | (EUR hedged) I-B-acc |
| Number of shares outstanding at the beginning of the period | 76 930.6480 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -5 042.6470 |
| Number of shares outstanding at the end of the period | 71 888.0010 |
| Class | I-X-acc |
| Number of shares outstanding at the beginning of the period | 155 684.2320 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -7 493.0220 |
| Number of shares outstanding at the end of the period | 148 191.2100 |
| Class | (CHF hedged) I-X-acc |
| Number of shares outstanding at the beginning of the period | 76 329.2180 |
| Number of shares issued | 144 583.9930 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 220 913.2110 |
| Class | (EUR hedged) I-X-acc |
| Number of shares outstanding at the beginning of the period | 147 615.8720 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -129 520.5950 |
| Number of shares outstanding at the end of the period | 18 095.2770 |
| Class | K-X-acc |
| Number of shares outstanding at the beginning of the period | 78 158.3670 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 78 158.3670 |
| Class | K-X-dist |
| Number of shares outstanding at the beginning of the period | 0.0000 |
| Number of shares issued | 100 000.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 100 000.0000 |
| Class | P-4%-mdist |
| Number of shares outstanding at the beginning of the period | 0.0000 |
| Number of shares issued | 32 707.1080 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 32 707.1080 |
| Class | P-acc |
| Number of shares outstanding at the beginning of the period | 153 812.5500 |
| Number of shares issued | 231 344.5460 |
| Number of shares redeemed | -12 262.6820 |
| Number of shares outstanding at the end of the period | 372 894.4140 |
| Class | (CHF hedged) P-acc |
| Number of shares outstanding at the beginning of the period | 163 166.4700 |
| Number of shares issued | 27 694.2440 |
| Number of shares redeemed | -11 729.8270 |
| Number of shares outstanding at the end of the period | 179 130.8870 |
| Class | (EUR hedged) P-acc |
| Number of shares outstanding at the beginning of the period | 371 635.5540 |
| Number of shares issued | 834 483.4870 |
| Number of shares redeemed | -64 961.7430 |
| Number of shares outstanding at the end of the period | 1 141 157.2980 |
| Class | P-dist |
| Number of shares outstanding at the beginning of the period | 22 159.6960 |
| Number of shares issued | 35 470.7050 |
| Number of shares redeemed | -4 678.5790 |
| Number of shares outstanding at the end of the period | 52 951.8220 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Semi-Annual Report as of 30 November 2019
| Class |  |  | (CHF hedged) P-dist |
| --- | --- | --- | --- |
| Number of shares outstanding at the beginning of the period |  |  | 38 696.4800 |
| Number of shares issued |  |  | 6 153.9640 |
| Number of shares redeemed |  |  | -3 600.4380 |
| Number of shares outstanding at the end of the period |  |  | 41 250.0060 |
| Class |  |  | (EUR hedged) P-dist |
| Number of shares outstanding at the beginning of the period |  |  | 69 975.8500 |
| Number of shares issued |  |  | 72 499.9250 |
| Number of shares redeemed |  |  | -4 571.2950 |
| Number of shares outstanding at the end of the period |  |  | 137 904.4800 |
| Class |  |  | Q-4%-mdist |
| Number of shares outstanding at the beginning of the period |  |  | 0.0000 |
| Number of shares issued |  |  | 68 522.4290 |
| Number of shares redeemed |  |  | 0.0000 |
| Number of shares outstanding at the end of the period |  |  | 68 522.4290 |
| Class |  |  | Q-acc |
| Number of shares outstanding at the beginning of the period |  |  | 109 344.1960 |
| Number of shares issued |  |  | 458 426.9370 |
| Number of shares redeemed |  |  | -18 487.8270 |
| Number of shares outstanding at the end of the period |  |  | 549 283.3060 |
| Class |  |  | (CHF hedged) Q-acc |
| Number of shares outstanding at the beginning of the period |  |  | 223 158.2510 |
| Number of shares issued |  |  | 178 079.4490 |
| Number of shares redeemed |  |  | -7 773.8340 |
| Number of shares outstanding at the end of the period |  |  | 393 463.8660 |
| Class |  |  | (EUR hedged) Q-acc |
| Number of shares outstanding at the beginning of the period |  |  | 1 041 535.4190 |
| Number of shares issued |  |  | 847 199.7470 |
| Number of shares redeemed |  |  | -170 575.1830 |
| Number of shares outstanding at the end of the period |  |  | 1 718 159.9830 |
| Class |  |  | Q-dist |
| Number of shares outstanding at the beginning of the period |  |  | 57 642.8900 |
| Number of shares issued |  |  | 162 243.9260 |
| Number of shares redeemed |  |  | -6 554.2900 |
| Number of shares outstanding at the end of the period |  |  | 213 332.5260 |
| Class |  |  | (CHF hedged) Q-dist |
| Number of shares outstanding at the beginning of the period |  |  | 109 190.2340 |
| Number of shares issued |  |  | 37 061.7340 |
| Number of shares redeemed |  |  | -151.0000 |
| Number of shares outstanding at the end of the period |  |  | 146 100.9680 |
| Class |  |  | (EUR hedged) Q-dist |
| Number of shares outstanding at the beginning of the period |  |  | 51 633.6620 |
| Number of shares issued |  |  | 38 052.8980 |
| Number of shares redeemed |  |  | -10 840.7710 |
| Number of shares outstanding at the end of the period |  |  | 78 845.7890 |
| Annual Distribution 1 |  |  |  |
| UBS (Lux) Bond SICAV – Global Dynamic (USD)	Ex-Date | Pay-Date | Currency | Amount per share |
| P-dist	1.8.2019 | 6.8.2019 | USD | 0.81 |
| (CHF hedged) P-dist	1.8.2019 | 6.8.2019 | CHF | 0.75 |
| (EUR hedged) P-dist	1.8.2019 | 6.8.2019 | EUR | 0.78 |
| Q-dist	1.8.2019 | 6.8.2019 | USD | 1.46 |
| (CHF hedged) Q-dist	1.8.2019 | 6.8.2019 | CHF | 1.35 |
| (EUR hedged) Q-dist	1.8.2019 | 6.8.2019 | EUR | 1.38 |
| Monthly Distribution 1 |  |  |  |
| UBS (Lux) Bond SICAV – Global Dynamic (USD)	Ex-Date | Pay-Date | Currency | Amount per share |
| P-4%-mdist	11.11.2019 | 14.11.2019 | USD | 0.33 |
| Q-4%-mdist	10.10.2019 | 15.10.2019 | USD | 0.22 |
| Q-4%-mdist	11.11.2019 | 14.11.2019 | USD | 0.33 |
| 1  See note 5 |  |  |  |

UBS (Lux) Bond SICAV – Global Dynamic (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 Notes, fixed rate |  |  |  |
| BRL |  |  |  |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF 10.00000% 16-01.01.27 | 10 250.00 | 2 850 265.08 | 0.41 |
| Total BRL |  | 2 850 265.08 | 0.41 |
| EUR |  |  |  |
| EUR	ALTICE FINCO SA-REG-S 9.00000% 13-15.06.23 | 400 000.00 | 456 564.61 | 0.07 |
| EUR	ALTICE FRANCE-REG-S 5.87500% 18-01.02.27 | 2 240 000.00 | 2 747 926.18 | 0.40 |
| EUR	ALTICE LUXEMBOURG SA-REG-S 8.00000% 19-15.05.27 | 1 925 000.00 | 2 352 053.92 | 0.34 |
| EUR	ARD FINANCE SA-REG-S (PIK) 5.00000% 19-30.06.27 | 2 000 000.00 | 2 198 407.98 | 0.32 |
| EUR	ARDAGH PACKAGING FINANCE/MP-REG-S 2.12500% 19-15.08.26 | 400 000.00 | 453 719.90 | 0.07 |
| EUR	BACARDI LTD-REG-S 2.75000% 13-03.07.23 | 200 000.00 | 237 189.11 | 0.03 |
| EUR	CHINA, PEOPLE’S REPUBLIC OF-REG-S 1.00000% 19-12.11.39 | 1 610 000.00 | 1 739 682.28 | 0.25 |
| EUR	DKT FINANCE APS-REG-S 7.00000% 18-17.06.23 | 1 200 000.00 | 1 395 970.99 | 0.20 |
| EUR	DREAM GLOBAL FUNDING 1 SARL-REG-S 1.37500% 17-21.12.21 | 300 000.00 | 334 541.63 | 0.05 |
| EUR	EUROPCAR MOBILITY GROUP-REG-S 4.00000% 19-30.04.26 | 900 000.00 | 954 650.93 | 0.14 |
| EUR	FINANCIAL & RISK US HOLDINGS INC-REG-S 6.87500% 18-15.11.26 | 700 000.00 | 872 118.01 | 0.13 |
| EUR	FISERV INC 1.62500% 19-01.07.30 | 495 000.00 | 571 662.82 | 0.08 |
| EUR	FORD MOTOR CREDIT CO LLC 1.51400% 19-17.02.23 | 235 000.00 | 258 003.56 | 0.04 |
| EUR	INFOR US INC 5.75000% 16-15.05.22 | 100 000.00 | 111 583.12 | 0.02 |
| EUR	INTERNATIONAL GAME TECHNOLOGY PLC-REG-S 2.37500% 19-15.04.28 | 520 000.00 | 573 982.69 | 0.08 |
| EUR	LOXAM SAS-REG-S 2.87500% 19-15.04.26 | 205 000.00 | 227 163.16 | 0.03 |
| EUR	LOXAM SAS-REG-S 3.75000% 19-15.07.26 | 700 000.00 | 796 209.51 | 0.11 |
| EUR	SOFTBANK GROUP CORP-REG-S 4.50000% 18-20.04.25 | 1 400 000.00 | 1 675 605.78 | 0.24 |
| EUR	UNILABS SUBHOLDING AB-REG-S 5.75000% 17-15.05.25 | 1 750 000.00 | 2 001 908.13 | 0.29 |
| Total EUR |  | 19 958 944.31 | 2.89 |
| USD |  |  |  |
| USD	ABBOTT LABORATORIES 4.90000% 16-30.11.46 | 120 000.00 | 159 373.30 | 0.02 |
| USD	ABBVIE INC 4.25000% 18-14.11.28 | 85 000.00 | 93 665.94 | 0.01 |
| USD	ABBVIE INC 4.87500% 18-14.11.48 | 180 000.00 | 205 765.63 | 0.03 |
| USD	AECOM TECHNOLOGY CORP 5.87500% 15-15.10.24 | 450 000.00 | 491 625.00 | 0.07 |
| USD	ALIBABA GROUP HOLDING LTD 3.40000% 17-06.12.27 | 400 000.00 | 415 632.00 | 0.06 |
| USD	ALLERGAN FUNDING SCS 4.75000% 15-15.03.45 | 100 000.00 | 109 921.96 | 0.02 |
| USD	ALTICE FINANCING SA-144A 6.62500% 15-15.02.23 | 200 000.00 | 204 500.00 | 0.03 |
| USD	ALTRIA GROUP INC 4.40000% 19-14.02.26 | 105 000.00 | 113 552.70 | 0.02 |
| USD	ALTRIA GROUP INC 4.80000% 19-14.02.29 | 300 000.00 | 331 671.69 | 0.05 |
| USD	AMERICAN EXPRESS CO 3.40000% 18-27.02.23 | 750 000.00 | 778 996.87 | 0.11 |
| USD	ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.15000% 19-23.01.25 | 80 000.00 | 87 100.93 | 0.01 |
| USD	ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.75000% 19-23.01.29 | 125 000.00 | 145 062.18 | 0.02 |
| USD	ANTHEM INC 3.65000% 17-01.12.27 | 150 000.00 | 158 410.23 | 0.02 |
| USD	APPLE INC 1.80000% 19-11.09.24 | 165 000.00 | 163 704.06 | 0.02 |
| USD	APT PIPELINES LTD-REG-S 4.20000% 15-23.03.25 | 1 000 000.00 | 1 063 860.00 | 0.15 |
| USD	ARGENTINA, REPUBLIC OF 6.87500% 18-11.01.48 | 1 000 000.00 | 400 312.50 | 0.06 |
| USD	AT&T INC 4.35000% 19-01.03.29 | 285 000.00 | 314 419.72 | 0.05 |
| USD	AT&T INC 4.75000% 15-15.05.46 | 200 000.00 | 223 592.36 | 0.03 |
| USD	CANADIAN NATURAL RESOURCES LTD 3.85000% 17-01.06.27 | 400 000.00 | 423 567.20 | 0.06 |
| USD	CF INDUSTRIES INC 5.15000% 14-15.03.34 | 300 000.00 | 327 000.00 | 0.05 |
| USD	CHILE, REPUBLIC OF 3.12500% 14-27.03.25 | 4 000 000.00 | 4 166 000.00 | 0.60 |
| USD	CHILE, REPUBLIC OF 3.86000% 17-21.06.47 | 600 000.00 | 670 312.50 | 0.10 |
| USD	CIGNA CORP 3.40000% 19-17.09.21 | 90 000.00 | 91 980.41 | 0.01 |
| USD	CIGNA CORP 4.37500% 19-15.10.28 | 170 000.00 | 188 580.76 | 0.03 |
| USD	CIGNA CORP 4.90000% 19-15.12.48 | 50 000.00 | 59 227.90 | 0.01 |
| USD	CITIGROUP INC 4.65000% 18-23.07.48 | 100 000.00 | 124 153.80 | 0.02 |
| USD	CNPC GENERAL CAPITAL LTD-REG-S 3.40000% 13-16.04.23 | 700 000.00 | 719 250.00 | 0.10 |
| USD	COMCAST CORP 3.95000% 18-15.10.25 | 95 000.00 | 103 590.35 | 0.02 |
| USD	COMCAST CORP 4.15000% 18-15.10.28 | 60 000.00 | 67 640.96 | 0.01 |
| USD	COMCAST CORP 4.70000% 18-15.10.48 | 200 000.00 | 248 334.94 | 0.04 |
| USD	COMCAST CORP 4.95000% 18-15.10.58 | 50 000.00 | 65 306.54 | 0.01 |
| USD	CONAGRA BRANDS INC 3.80000% 18-22.10.21 | 50 000.00 | 51 479.22 | 0.01 |
| USD	CONAGRA BRANDS INC 5.40000% 18-01.11.48 | 185 000.00 | 220 218.14 | 0.03 |
| USD	CONAGRA INC 4.60000% 18-01.11.25 | 80 000.00 | 88 014.12 | 0.01 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 4.25000% 12-26.01.23 | 2 000 000.00 | 1 988 750.00 | 0.29 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 7.15800% 15-12.03.45 | 1 000 000.00 | 1 008 125.00 | 0.15 |
| USD	CREDIT SUISSE GROUP AG-144A 4.28200% 17-09.01.28 | 250 000.00 | 271 846.72 | 0.04 |
| USD	CVS HEALTH CORP 2.62500% 19-15.08.24 | 560 000.00 | 564 503.35 | 0.08 |
| USD	CVS HEALTH CORP 4.30000% 18-25.03.28 | 175 000.00 | 190 758.43 | 0.03 |
| USD	DEUTSCHE BANK AG/NEW YORK NY 3.15000% 18-22.01.21 | 150 000.00 | 150 201.27 | 0.02 |
| USD	DISCOVERY COMMUNICATIONS LLC 5.30000% 19-15.05.49 | 250 000.00 | 288 605.60 | 0.04 |
| USD	ECUADOR, REPUBLIC OF-REG-S 8.87500% 17-23.10.27 | 620 000.00 | 497 550.00 | 0.07 |
| USD	ENABLE MIDSTREAM PARTNERS LP 3.90000% 15-15.05.24 | 400 000.00 | 403 124.88 | 0.06 |
| USD	ENERGY TRANSFER OPERATING LP 4.50000% 19-15.04.24 | 340 000.00 | 359 471.66 | 0.05 |
| USD	FISERV INC 3.20000% 19-01.07.26 | 320 000.00 | 331 456.48 | 0.05 |
| USD	GE CAPITAL INTL FUNDING CO 4.41800% 16-15.11.35 | 400 000.00 | 430 557.36 | 0.06 |
| USD	GENERAL ELECTRIC CO 3.15000% 12-07.09.22 | 260 000.00 | 265 115.50 | 0.04 |
| USD	GHANA GOVT INTNL BOND-REG-S 7.87500% 13-07.08.23 | 3 000 000.00 | 3 250 312.50 | 0.47 |
| USD	GILEAD SCIENCES INC 4.75000% 15-01.03.46 | 300 000.00 | 362 114.64 | 0.05 |
| USD	GUATEMALA, REPUBLIC OF-REG-S 5.75000% 12-06.06.22 | 500 000.00 | 532 500.00 | 0.08 |
| USD	HUMANA INC 3.12500% 19-15.08.29 | 1 015 000.00 | 1 030 492.36 | 0.15 |
| USD	INDONESIA, REPUBLIC OF-REG-S 5.25000% 12-17.01.42 | 1 200 000.00 | 1 434 375.00 | 0.21 |
| USD	INTERNATIONAL BUSINESS MACHINES CORP 2.85000% 19-13.05.22 | 1 310 000.00 | 1 335 055.98 | 0.19 |
| USD	INTERNATIONAL BUSINESS MACHINES CORP 3.30000% 19-15.05.26 | 750 000.00 | 789 241.28 | 0.11 |
| USD	JPMORGAN CHASE & CO 3.20000% 13-25.01.23 | 500 000.00 | 516 966.95 | 0.08 |
| USD	KENYA, REPUBLIC OF-REG-S 8.25000% 18-28.02.48 | 550 000.00 | 563 234.38 | 0.08 |
| USD	KINDER MORGAN INC 3.15000% 17-15.01.23 | 290 000.00 | 296 197.18 | 0.04 |
| USD	MARATHON OIL CORP 3.85000% 15-01.06.25 | 270 000.00 | 282 846.79 | 0.04 |
| USD	MEXICHEM SAB DE CV-REG-S 4.00000% 17-04.10.27 | 200 000.00 | 201 375.00 | 0.03 |
| USD	MEXICHEM SAB DE CV-REG-S 5.50000% 17-15.01.48 | 200 000.00 | 198 687.50 | 0.03 |
| USD	MPLX LP 5.20000% 17-01.03.47 | 250 000.00 | 263 665.47 | 0.04 |
| USD	NEPTUNE ENERGY BONDCO PLC-REG-S 6.62500% 18-15.05.25 | 1 250 000.00 | 1 245 375.00 | 0.18 |

UBS (Lux) Bond SICAV – Global Dynamic (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 | NEXEN INC 6.40000% 07-15.05.37 | 575 000.00 | 802 125.00 | 0.12 |
| USD | NIGERIA, FEDERAL REPUBLIC OF-REG-S 6.75000% 11-28.01.21 | 550 000.00 | 569 250.00 | 0.08 |
| USD | NIGERIA, FEDERAL REPUBLIC OF-REG-S 9.24800% 18-21.01.49 | 500 000.00 | 541 406.25 | 0.08 |
| USD | OCP SA-REG-S 5.62500% 14-25.04.24 | 300 000.00 | 328 800.00 | 0.05 |
| USD | OMAN GOVT INTERNATIONAL BOND-REG-S 6.75000% 18-17.01.48 | 1 040 000.00 | 985 725.00 | 0.14 |
| USD | PAYPAL HOLDINGS INC 2.65000% 19-01.10.26 | 295 000.00 | 295 762.37 | 0.04 |
| USD | PERTAMINA PT-REG-S 4.875000% 12-03.05.22 | 500 000.00 | 527 500.00 | 0.08 |
| USD | PETROLEOS MEXICANOS 6.50000% 18-13.03.27 | 230 000.00 | 240 692.13 | 0.04 |
| USD | REYNOLDS AMERICAN INC 5.70000% 15-15.08.35 | 400 000.00 | 459 127.84 | 0.07 |
| USD | ROYAL BANK OF SCOTLAND GROUP PLC-SUB 6.10000% 13-10.06.23 | 400 000.00 | 438 226.52 | 0.06 |
| USD | ROYAL BANK OF SCOTLAND GROUP PLC 3.87500% 16-12.09.23 | 200 000.00 | 208 057.52 | 0.03 |
| USD | SINOPEC CAPITAL 2013 LTD-REG-S 3.12500% 13-24.04.23 | 700 000.00 | 712 250.00 | 0.10 |
| USD | SOUTH AFRICA, REPUBLIC OF 4.87500% 16-14.04.26 | 500 000.00 | 516 406.25 | 0.07 |
| USD | SRI LANKA, DEMOCRATIC REP OF-REG-S 6.25000% 10-04.10.20 | 510 000.00 | 512 550.00 | 0.07 |
| USD | SRI LANKA, DEMOCRATIC REP OF-REG-S 6.20000% 17-11.05.27 | 500 000.00 | 451 093.76 | 0.07 |
| USD | SUMITOMO MITSUI FIN GP INC-SUB 3.20200% 19-17.09.29 | 320 000.00 | 324 499.20 | 0.05 |
| USD | SUNCORP-METWAY LTD-REG-S 2.80000% 17-04.05.22 | 150 000.00 | 151 504.50 | 0.02 |
| USD | SUNTRUST BANKS INC 2.70000% 16-27.01.22 | 350 000.00 | 353 850.11 | 0.05 |
| USD | SYNGENTA FINANCE NV-144A 3.69800% 18-24.04.20 | 200 000.00 | 200 607.74 | 0.03 |
| USD | SYNGENTA FINANCE NV-144A 3.93300% 18-23.04.21 | 200 000.00 | 203 519.36 | 0.03 |
| USD | TELEFONICA EMISIONES SA 5.52000% 19-01.03.49 | 440 000.00 | 543 022.30 | 0.08 |
| USD | TURKEY, REPUBLIC OF 6.87500% 06-17.03.36 | 680 000.00 | 682 125.00 | 0.10 |
| USD | UKRAINE, GOVERNMENT OF-REG-S 7.37500% 17-25.09.32 | 650 000.00 | 661 375.00 | 0.10 |
| USD | UNITED TECHNOLOGIES CORP 4.62500% 18-16.11.48 | 200 000.00 | 250 517.58 | 0.04 |
| USD | UNITED TECHNOLOGIES CORP 3.35000% 18-16.08.21 | 50 000.00 | 51 134.71 | 0.01 |
| USD | UNITED TECHNOLOGIES CORP 3.95000% 18-16.08.25 | 215 000.00 | 233 728.39 | 0.03 |
| USD | URUGUAY, REPUBLIC OF 4.12500% 12-20.11.45 | 660 000.00 | 703 518.75 | 0.10 |
| USD | VALERO ENERGY CORP 4.90000% 15-15.03.45 | 200 000.00 | 227 224.28 | 0.03 |
| USD | VEB FINANCE PLC-REG-S LPN 5.94200% 13-21.11.23 | 500 000.00 | 551 250.00 | 0.08 |
| USD | VERIZON COMMUNICATIONS INC 3.37600% 18-15.02.25 | 440 000.00 | 464 784.76 | 0.07 |
| USD | VTB BK OJSC VIA VTB CPTL SA-REG-S LPN 6.55100% 10-13.10.20 | 500 000.00 | 516 500.00 | 0.07 |
| USD | WALT DISNEY CO 1.75000% 19-30.08.24 | 990 000.00 | 978 924.87 | 0.14 |
| USD | WELLS FARGO & CO 3.06900% 17-24.01.23 | 150 000.00 | 152 846.64 | 0.02 |
| USD | YPF SA-REG-S 6.95000% 17-21.07.27 | 400 000.00 | 304 750.00 | 0.04 |
| USD | YPF SA-REG-S 7.00000% 17-15.12.47 | 230 000.00 | 157 334.38 | 0.02 |
| Total USD |  |  | 47 430 320.40 | 6.86 |
| Total Notes, fixed rate |  | 70 239 529.79 | 10.16 |
| Notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S-SUB 3.250%/VAR 19-PRP | 100 000.00 | 120 192.22 | 0.02 |
| EUR	ING GROUP NV-SUB VAR 03-PRP | 300 000.00 | 277 789.05 | 0.04 |
| EUR	ITALY, REPUBLIC OF-144A-REG-S 2.350%/CPI LINKED 14-15.09.24 | 3 500 000.00 | 4 536 913.45 | 0.66 |
| EUR	NOVO BANCO SA-REG-S-SUB 8.500%/VAR 18-06.07.28 | 1 100 000.00 | 1 284 523.04 | 0.18 |
| Total EUR |  | 6 219 417.76 | 0.90 |
| GBP |  |  |  |
| GBP	M&G PLC-REG-S-SUB 3.875%/VAR 19-20.07.49 | 100 000.00 | 132 099.96 | 0.02 |
| Total GBP |  | 132 099.96 | 0.02 |
| USD |  |  |  |
| USD	AEGON NV-SUB VAR/10YR CMS+10BP 04-31.12.PRP | 500 000.00 | 402 911.00 | 0.06 |
| USD	CORP FINANCIERA DE DESARROL-REG-S-SUB 5.250%/VAR 14-15.07.29 | 250 000.00 | 267 812.50 | 0.04 |
| USD	CREDIT SUISSE GROUP AG-REG-S-SUB 6.250%/VAR 14-PRP | 480 000.00 | 517 987.20 | 0.07 |
| USD	ELECTRICITE DE FRANCE SA-REG-S-SUB 5.625%/VAR 14-PRP | 450 000.00 | 472 500.00 | 0.07 |
| USD	STANDARD CHARTERED PLC-REG-S-SUB 7.750%/VAR 17-PRP | 400 000.00 | 439 000.00 | 0.06 |
| Total USD |  | 2 100 210.70 | 0.30 |
| Total Notes, floating rate |  | 8 451 728.42 | 1.22 |
| Medium term notes, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	A.P. MOELLER-MAERSK-REG-S 1.75000% 18-16.03.26 | 100 000.00 | 114 436.65 | 0.02 |
| EUR	ABERTIS INFRAESTRUCTURAS SA-REG-S 1.50000% 19-27.06.24 | 100 000.00 | 114 086.90 | 0.02 |
| EUR	ABERTIS INFRAESTRUCTURAS SA-REG-S 2.37500% 19-27.09.27 | 100 000.00 | 119 042.87 | 0.02 |
| EUR	AKELIUS RESIDENTIAL PROPERTY AB-REG-S 1.75000% 17-07.02.25 | 100 000.00 | 115 550.71 | 0.02 |
| EUR	AROUNDTOWN SA-REG-S 2.00000% 18-02.11.26 | 100 000.00 | 117 319.06 | 0.02 |
| EUR	BANCO BPM SPA 2.50000% 19-21.06.24 | 890 000.00 | 1 014 152.69 | 0.15 |
| EUR	BANK OF IRELAND GROUP PLC-REG-S 1.37500% 18-29.08.23 | 180 000.00 | 203 550.77 | 0.03 |
| EUR	BNP PARIBAS-REG-S 1.25000% 18-19.03.25 | 200 000.00 | 230 010.30 | 0.03 |
| EUR	BNP PARIBAS-REG-S 1.00000% 18-17.04.24 | 400 000.00 | 454 452.02 | 0.07 |
| EUR	BPCE SA-REG-S 1.37500% 18-23.03.26 | 100 000.00 | 116 179.42 | 0.02 |
| EUR	CANAL DE ISABEL II GESTION SA-REG-S 1.68000% 15-26.02.25 | 200 000.00 | 233 122.85 | 0.03 |
| EUR	CNH INDUSTRIAL FINANCE EUROPE SA-REG-S 1.87500% 18-19.01.26 | 235 000.00 | 272 773.85 | 0.04 |
| EUR	COMMERZBANK AG-REG-S 0.50000% 18-28.08.23 | 295 000.00 | 328 872.26 | 0.05 |
| EUR	COMMERZBANK AG-REG-S 0.62500% 19-28.08.24 | 255 000.00 | 285 434.43 | 0.04 |
| EUR	CPI PROPERTY GROUP SA-REG-S 1.45000% 18-14.04.22 | 400 000.00 | 452 066.00 | 0.06 |
| EUR	CREDIT AGRICOLE SA LONDON-REG-S 1.37500% 18-13.03.25 | 200 000.00 | 231 472.78 | 0.03 |
| EUR	DANSKE BANK AS-REG-S 1.37500% 19-24.05.22 | 255 000.00 | 288 462.24 | 0.04 |
| EUR	DEUTSCHE BANK AG-REG-S 1.12500% 18-30.08.23 | 340 000.00 | 385 035.86 | 0.06 |
| EUR	DEUTSCHE BANK AG-REG-S 1.62500% 19-12.02.21 | 200 000.00 | 222 846.40 | 0.03 |
| EUR	DNB BANK ASA-REG-S 0.05000% 19-14.11.23 | 1 200 000.00 | 1 319 494.65 | 0.19 |
| EUR	EDP FINANCE BV-REG-S 2.00000% 15-22.04.25 | 200 000.00 | 238 661.30 | 0.03 |
| EUR	FORD MOTOR CREDIT CO LLC 3.02100% 19-06.03.24 | 110 000.00 | 126 765.50 | 0.02 |
| EUR	GAS NETWORKS IRELAND-REG-S 0.12500% 19-04.12.24 | 505 000.00 | 555 448.81 | 0.08 |
| EUR	GLOBALWORTH REAL ESTATE INVEST-REG-S 3.00000% 18-29.03.25 | 200 000.00 | 238 092.69 | 0.03 |
| EUR	GOLDMAN SACHS GROUP INC-REG-S 2.00000% 15-27.07.23 | 500 000.00 | 586 561.15 | 0.08 |
| EUR	GOLDMAN SACHS GROUP INC-REG-S 2.00000% 18-01.11.28 | 270 000.00 | 326 877.98 | 0.05 |
| EUR	HEIDELBERGCEMENT FIN LUX SA-REG-S 1.12500% 19-01.12.27 | 140 000.00 | 156 786.90 | 0.02 |
| EUR	ING GROEP NV-REG-S 2.00000% 18-20.09.28 | 200 000.00 | 245 963.58 | 0.03 |
| EUR	KBC GROUP NV-REG-S 1.12500% 19-25.01.24 | 200 000.00 | 228 631.61 | 0.03 |
| EUR	ORANO SA 4.87500% 09-23.09.24 | 200 000.00 | 255 251.90 | 0.04 |

UBS (Lux) Bond SICAV – Global Dynamic (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) |  |
|  |  |  |  |  |
| EUR | ORANO SA-REG-S 3.37500% 19-23.04.26 | 1 000 000.00 | 1 179 437.99 | 0.17 |
| EUR | REDEXIS GAS FINANCE BV-REG-S 1.87500% 15-27.04.27 | 300 000.00 | 340 883.34 | 0.05 |
| EUR | REN FINANCE B V-REG-S 2.50000% 15-12.02.25 | 600 000.00 | 730 001.03 | 0.11 |
| EUR | ROMANIA-REG-S 4.62500% 19-03.04.49 | 2 000 000.00 | 2 735 826.25 | 0.40 |
| EUR | SANOFI-REG-S 1.37500% 18-21.03.30 | 100 000.00 | 122 228.06 | 0.02 |
| EUR | SCHAEFFLER AG-REG-S 2.87500% 19-26.03.27 | 80 000.00 | 95 388.13 | 0.01 |
| EUR | TELECOM ITALIA FINANCE SA 7.75000% 03-24.01.33 | 400 000.00 | 650 410.51 | 0.09 |
| EUR | VODAFONE GROUP PLC-REG-S 2.50000% 19-24.05.39 | 230 000.00 | 277 945.94 | 0.04 |
| EUR | VOLKSWAGEN FINANCIAL SERVICES AG-REG-S 1.50000% 19-01.10.24 | 230 000.00 | 262 326.84 | 0.04 |
| EUR | VOLKSWAGEN LEASING GMBH-REG-S 1.62500% 18-15.08.25 | 140 000.00 | 160 696.94 | 0.02 |
| EUR | VONOVIA FINANCE BV-REG-S 1.62500% 19-07.10.39 | 300 000.00 | 324 368.82 | 0.05 |
| Total EUR |  |  | 16 456 917.98 | 2.38 |
| GBP |  |  |  |  |
| GBP | AA BOND CO LTD-REG-S 2.87500% 16-31.01.22 | 200 000.00 | 251 865.15 | 0.04 |
| GBP | LLOYDS BANKING GROUP PLC 2.25000% 17-16.10.24 | 100 000.00 | 132 670.94 | 0.02 |
| Total GBP |  |  | 384 536.09 | 0.06 |
| NZD |  |  |  |  |
| NZD | BNP PARIBAS-REG-S 5.87500% 13-04.12.19 | 250 000.00 | 160 571.28 | 0.02 |
| Total NZD |  |  | 160 571.28 | 0.02 |
| USD |  |  |  |  |
| USD | ABN AMRO BANK NV-144A 2.65000% 18-19.01.21 | 400 000.00 | 402 509.84 | 0.06 |
| USD | BANK OF AMERICA CORP 3.87500% 15-01.08.25 | 1 000 000.00 | 1 074 900.50 | 0.16 |
| USD | EGYPT, REPUBLIC OF-REG-S 8.70020% 19-01.03.49 | 1 000 000.00 | 1 073 125.00 | 0.15 |
| USD | INDIAN OIL CORP LTD-REG-S 5.75000% 13-01.08.23 | 500 000.00 | 546 406.25 | 0.08 |
| USD | KAZAKHSTAN, REPUBLIC OF-REG-S 5.12500% 15-21.07.25 | 2 000 000.00 | 2 287 000.00 | 0.33 |
| USD | MIRVAC GROUP FINANCE LTD-REG-S 3.62500% 17-18.03.27 | 200 000.00 | 206 043.32 | 0.03 |
| USD | MONGOLIA,GOVERNMENT OF-REG-S 8.75000% 17-09.03.24 | 1 190 000.00 | 1 342 840.63 | 0.19 |
| USD | MORGAN STANLEY-SUB 4.35000% 14-08.09.26 | 1 000 000.00 | 1 094 160.20 | 0.16 |
| USD | PERTAMINA PERSERO PT-REG-S 4.70000% 19-30.07.49 | 390 000.00 | 407 550.00 | 0.06 |
| USD | PHOENIX GROUP HOLDINGS PLC-REG-S-SUB 5.37500% 17-06.07.27 | 600 000.00 | 624 000.00 | 0.09 |
| USD | ROMANIA-REG-S 6.12500% 14-22.01.44 | 700 000.00 | 908 250.00 | 0.13 |
| USD | SAUDI ARABIAN OIL CO-REG-S 2.87500% 19-16.04.24 | 200 000.00 | 202 800.00 | 0.03 |
| USD | SAUDI ARABIAN OIL CO-REG-S 3.50000% 19-16.04.29 | 325 000.00 | 339 421.88 | 0.05 |
| USD | SAUDI GOVERNMENT INTERNATIONAL BD-REG-S 4.00000% 18-17.04.25 | 4 000 000.00 | 4 288 000.00 | 0.62 |
| Total USD |  |  | 14 797 007.62 | 2.14 |
| Total Medium term notes, fixed rate |  | 31 799 032.97 | 4.60 |
| Medium term notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	ALLIED IRISH BANKS PLC-REG-S-SUB 7.375%/VAR 15-PRP | 400 000.00 | 469 958.99 | 0.07 |
| EUR	AXA SA-REG-S-SUB 3.250%/VAR 18-28.05.49 | 120 000.00 | 150 719.77 | 0.02 |
| EUR	CAIXABANK SA-REG-S-SUB 2.750%/VAR 17-14.07.28 | 300 000.00 | 348 615.50 | 0.05 |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S-SUB 2.625%/VAR 18-PRP | 100 000.00 | 117 013.43 | 0.02 |
| EUR	ROYAL BK OF SCOTLAND GP PLC-REG-S 2.000%/VAR 18-04.03.25 | 600 000.00 | 694 644.62 | 0.10 |
| EUR	SVENSKA HANDELSBANKEN AB-REG-S-SUB 1.625%/VAR 18-05.03.29 | 340 000.00 | 391 636.07 | 0.06 |
| EUR	TOTAL SA-REG-S-SUB 2.625%/VAR 15-PRP | 260 000.00 | 307 919.27 | 0.04 |
| EUR	UBS AG-REG-S-SUB 4.750%/VAR 14-12.02.26 | 200 000.00 | 231 270.35 | 0.03 |
| Total EUR |  | 2 711 778.00 | 0.39 |
| GBP |  |  |  |
| GBP	ELECTRICITE DE FRANCE SA-REG-S-SUB 6.000%/VAR 13-PRP | 100 000.00 | 142 349.68 | 0.02 |
| Total GBP |  | 142 349.68 | 0.02 |
| Total Medium term notes, floating rate |  | 2 854 127.68 | 0.41 |
| Bonds, fixed rate |  |  |  |
| CNY |  |  |  |
| CNY	CHINA DEVELOPMENT BANK CORP 3.80000% 16-25.01.36 | 125 000 000.00 | 17 572 706.89 | 2.54 |
| Total CNY |  | 17 572 706.89 | 2.54 |
| EUR |  |  |  |
| EUR	ABBOTT IRELAND FINCING DAC-REG-S 0.87500% 18-27.09.23 | 165 000.00 | 187 278.80 | 0.03 |
| EUR	ADLER REAL ESTATE AG-REG-S 3.00000% 18-27.04.26 | 600 000.00 | 682 568.50 | 0.10 |
| EUR	ADO PROPERTIES SA-REG-S 1.50000% 17-26.07.24 | 200 000.00 | 218 784.07 | 0.03 |
| EUR	ALLERGAN FUNDING SCS 2.62500% 18-15.11.28 | 100 000.00 | 126 195.44 | 0.02 |
| EUR	ARDAGH PACKAGING FINANCE/MP-REG-S 2.75000% 17-15.03.24 | 700 000.00 | 786 175.85 | 0.11 |
| EUR	BUZZI UNICEM SPA-REG-S 2.12500% 16-28.04.23 | 500 000.00 | 580 873.77 | 0.08 |
| EUR	CDP RETI SPA-REG-S 1.87500% 15-29.05.22 | 520 000.00 | 588 962.03 | 0.09 |
| EUR	DXC TECHNOLOGY CO 1.75000% 18-15.01.26 | 200 000.00 | 218 792.89 | 0.03 |
| EUR	EIRCOM FINANCE DAC-REG-S 3.50000% 19-15.05.26 | 1 110 000.00 | 1 277 761.46 | 0.19 |
| EUR	GLOBALWORTH REAL ESTATE INVEST-REG-S 2.87500% 17-20.06.22 | 180 000.00 | 209 383.74 | 0.03 |
| EUR	GREECE, HELLENIC REPUBLIC OF-144A-REG-S 1.87500% 19-23.07.26 | 3 235 000.00 | 3 757 598.06 | 0.54 |
| EUR	INTRUM JUSTITIA AB-REG-S 2.75000% 17-15.07.22 | 280 000.00 | 156 100.60 | 0.02 |
| EUR	INTRUM JUSTITIA AB-REG-S 3.12500% 17-15.07.24 | 570 000.00 | 635 527.28 | 0.09 |
| EUR	ITALY, REPUBLIC OF-BTP-144A-REG-S 3.250% 14-01.09.46 | 3 000 000.00 | 3 977 536.88 | 0.58 |
| EUR	ITALY, REPUBLIC OF-BTP 1.60000% 16-01.06.26 | 12 000 000.00 | 13 850 605.40 | 2.00 |
| EUR	MATTERHORN TELECOM SA-REG-S 2.62500% 19-15.09.24 | 810 000.00 | 917 025.16 | 0.13 |
| EUR	MATTERHORN TELECOM SA-REG-S 3.12500% 19-15.09.26 | 370 000.00 | 413 265.51 | 0.06 |
| EUR	MPT OPERATING PARTNERSHIP LP/FIN CORP 3.32500% 17-24.03.25 | 470 000.00 | 570 083.58 | 0.08 |
| EUR	MYLAN NV-REG-S 3.12500% 16-22.11.28 | 100 000.00 | 124 932.52 | 0.02 |
| EUR	SIKA CAPITAL BV-REG-S 0.87500% 19-29.04.27 | 680 000.00 | 775 260.11 | 0.11 |
| EUR	SLOVENIA, REPUBLIC OF-REG-S 1.50000% 15-25.03.35 | 3 000 000.00 | 3 768 444.23 | 0.55 |
| EUR	SLOVENIA, REPUBLIC OF-REG-S 3.12500% 15-07.08.45 | 4 500 000.00 | 7 371 687.00 | 1.07 |
| EUR	SMURFIT KAPPA TREASURY ULC-REG-S 1.50000% 19-15.09.27 | 170 000.00 | 188 564.78 | 0.03 |
| EUR	SUNSHINE MID BV-REG-S 6.50000% 18-15.05.26 | 1 100 000.00 | 1 274 837.14 | 0.18 |
| EUR	TAURON POLSKA ENERGIA SA-REG-S 2.37500% 17-05.07.27 | 600 000.00 | 702 775.19 | 0.10 |
| EUR	TLG IMMOBILIEN AG-REG-S 0.37500% 19-23.09.22 | 100 000.00 | 110 696.63 | 0.02 |

UBS (Lux) Bond SICAV – Global Dynamic (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) |  |
|  |  |  |  |  |
| EUR | UMG GROUPE VYV 1.62500% 19-02.07.29 | 100 000.00 | 115 354.01 | 0.02 |
| EUR | UPC HOLDING BV-REG-S 3.87500% 17-15.06.29 | 900 000.00 | 1 031 944.28 | 0.15 |
| EUR | VERISURE MIDHOLDING AB-REG-S 5.75000% 17-01.12.23 | 1 140 000.00 | 1 293 101.72 | 0.19 |
| EUR | VIVION INVESTMENTS SARL-REG-S 3.00000% 19-08.08.24 | 200 000.00 | 219 417.40 | 0.03 |
| EUR | VOLKSWAGEN INTERNATIONAL FIN NV-REG-S 1.12500% 17-02.10.23 | 200 000.00 | 226 014.04 | 0.03 |
| Total EUR |  |  | 46 357 548.07 | 6.71 |
| GBP |  |  |  |  |
| GBP | BRACKEN MIDCO1 PLC-REG-S (PIK) 8.87500% 18-15.10.23 | 500 000.00 | 633 958.58 | 0.09 |
| GBP | BUPA FINANCE PLC-REG-S-SUB 5.00000% 13-25.04.23 | 100 000.00 | 141 793.47 | 0.02 |
| GBP | DIGNITY FINANCE PLC-REG-S 4.69560% 14-31.12.49 | 151 000.00 | 160 064.47 | 0.02 |
| GBP | MILLER HOMES GROUP HOLDINGS PLC-REG-S 5.50000% 17-15.10.24 | 1 000 000.00 | 1 338 240.10 | 0.20 |
| GBP | ROTHESAY LIFE PLC-REG-S-SUB 3.37500% 19-12.07.26 | 545 000.00 | 701 693.55 | 0.10 |
| GBP | SCOTTISH WIDOWS PLC-REG-S-SUB 5.50000% 13-16.06.23 | 200 000.00 | 287 514.22 | 0.04 |
| GBP | UNITED KINGDOM OF GREAT BRITAIN-REG-S 1.50000% 16-22.07.47 | 3 000 000.00 | 4 149 884.31 | 0.60 |
| GBP | VIRGIN MEDIA SECURED FINANCE PLC-REG-S 4.87500% 15-15.01.27 | 400 000.00 | 527 748.00 | 0.08 |
| Total GBP |  |  | 7 940 896.70 | 1.15 |
| MXN |  |  |  |  |
| MXN | MEXICO, UNITED MEXICAN STATES 7.75000% 11-13.11.42 | 6 471 700.00 | 34 636 725.53 | 5.01 |
| Total MXN |  | 34 636 725.53 | 5.01 |
| NZD |  |  |  |  |
| NZD | NEW ZEALAND 4.50000% 14-15.04.27 | 200 000.00 | 158 037.06 | 0.02 |
| NZD | NEW ZEALAND-REG-S 2.75000% 16-15.04.25 | 200 000.00 | 139 366.76 | 0.02 |
| NZD | NEW ZEALAND-REG-S 5.50000% 11-15.04.23 | 200 000.00 | 147 557.41 | 0.02 |
| Total NZD |  |  | 444 961.23 | 0.06 |
| USD |  |  |  |  |
| USD | AMERICAN AIRLINES PASS THROUGH TRUST 4.37500% 14-01.10.22 | 235 000.00 | 135 449.69 | 0.02 |
| USD | ARGENTINA, REPUBLIC OF (PIK) 8.28000% 05-31.12.33 | 150 000.00 | 103 312.67 | 0.01 |
| USD | BALTIMORE GAS & ELECTRIC CO 3.50000% 16-15.08.46 | 200 000.00 | 207 742.10 | 0.03 |
| USD | BRAZIL, FEDERATIVE REPUBLIC OF 7.12500% 06-20.01.37 | 600 000.00 | 760 500.00 | 0.11 |
| USD | CITIGROUP INC 3.87500% 13-25.10.23 | 600 000.00 | 637 195.80 | 0.09 |
| USD | CNAC HK FINBRIDGE CO LTD-REG-S 3.50000% 17-19.07.22 | 245 000.00 | 249 134.37 | 0.04 |
| USD | CNAC HK FINBRIDGE CO LTD-REG-S 4.62500% 18-14.03.23 | 200 000.00 | 210 500.00 | 0.03 |
| USD | COLOMBIA, REPUBLIC OF 6.12500% 09-18.01.41 | 600 000.00 | 766 687.50 | 0.11 |
| USD | GAZ CAPITAL SA/GAZPROM-REG-S LPN 7.28800% 07-16.08.37 | 630 000.00 | 862 509.38 | 0.12 |
| USD | GOLDMAN SACHS GROUP INC-SUB 5.15000% 15-22.05.45 | 200 000.00 | 245 999.08 | 0.04 |
| USD | HCA INC 5.37500% 15-01.02.25 | 400 000.00 | 442 000.00 | 0.06 |
| USD | KAZAKHSTAN, REPUBLIC OF-REG-S 4.87500% 14-14-10.44 | 1 200 000.00 | 1 456 125.00 | 0.21 |
| USD | MAGYAR EXPORT-IMPORT BANK RT-REG-S 4.00000% 14-30.01.20 | 450 000.00 | 451 125.00 | 0.06 |
| USD | MEXICO CITY AIRPORT TRUST-REG-S 5.50000% 17-31.07.47 | 450 000.00 | 452 390.63 | 0.07 |
| USD | MOROCCO, KINGDOM OF THE-REG-S 5.50000% 12-11.12.42 | 3 000 000.00 | 3 608 437.50 | 0.52 |
| USD | PETROLEOS DE VENEZUE-REG-S *DEFAULTED* 6.00000% 14-16.05.24 | 600 000.00 | 43 500.00 | 0.01 |
| USD | REYNOLDS AMERICAN INC 4.45000% 15-12.06.25 | 150 000.00 | 160 617.99 | 0.02 |
| USD | SFC CAPITAL LTD-REG-S 5.37500% 16-16.06.23 | 500 000.00 | 531 875.00 | 0.08 |
| USD | SOUTH AFRICA, REPUBLIC OF 6.30000% 18-22.06.48 | 500 000.00 | 525 000.00 | 0.08 |
| USD | TURKEY, REPUBLIC OF 6.62500% 14-17.02.45 | 700 000.00 | 665 656.25 | 0.10 |
| Total USD |  |  | 12 515 757.96 | 1.81 |
| ZAR |  |  |  |  |
| ZAR | SOUTH AFRICA, REPUBLIC OF 8.50000% 13-31.01.37 | 210 000 000.00 | 12 526 543.71 | 1.81 |
| Total ZAR |  |  | 12 526 543.71 | 1.81 |
| Total Bonds, fixed rate |  | 131 995 140.09 | 19.09 |
| Bonds, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	AG INSURANCE SA/NV-REG-S-SUB 3.500%/VAR 15-30.06.47 | 300 000.00 | 372 954.45 | 0.05 |
| EUR	BANK OF IRELAND-REG-S-SUB 7.375%/VAR 15-PRP | 400 000.00 | 456 749.84 | 0.07 |
| EUR	ELM BV-REG-S-SUB 2.600%/VAR 15-PRP | 290 000.00 | 345 327.93 | 0.05 |
| EUR	ENGIE SA-REG-S-SUB 3.250%/VAR 19-PRP | 100 000.00 | 120 578.13 | 0.02 |
| EUR	HOLCIM FINANCE LUXEMBOURG SA-REG-S-SUB 3.000%/VAR 19-PRP | 200 000.00 | 230 443.40 | 0.03 |
| EUR	ITALY, REPUBLIC OF 2.550%/CPI LINKED 09-15.09.41 | 1 500 000.00 | 2 408 732.26 | 0.35 |
| EUR	ORSTED A/S-REG-S-SUB 3.000%/VAR 15-06.11.3015 | 300 000.00 | 337 395.60 | 0.05 |
| EUR	RABOBANK NEDERLAND NV REG-S 5.500%/VAR 15-PRP | 400 000.00 | 452 779.61 | 0.07 |
| EUR	TELEFONICA EUROPE BV-REG-S-SUB 3.875%/VAR 18-PRP | 700 000.00 | 828 818.90 | 0.12 |
| EUR	UNIBAIL-RODAMCO SE-REG-S-SUB 2.125%/VAR 18-PRP | 200 000.00 | 224 634.91 | 0.03 |
| EUR	VONOVIA FINANCE BV-REG-S-SUB 4.000%/VAR 14-PRP | 300 000.00 | 352 964.09 | 0.05 |
| Total EUR |  | 6 131 379.12 | 0.89 |
| GBP |  |  |  |
| GBP	BARCLAYS PLC-REG-S-SUB 7.250%/VAR 17-PRP | 200 000.00 | 280 366.12 | 0.04 |
| GBP	BUPA FINANCE PLC 6.125%/VAR 04-PRP | 75 000.00 | 100 407.94 | 0.02 |
| GBP	CYBG PLC-REG-S-SUB 8.750%/VAR 16-PRP | 1 020 000.00 | 1 392 098.96 | 0.20 |
| GBP	M&G PLC-REG-S-SUB 5.625%/VAR 18-20.10.51 | 150 000.00 | 220 793.35 | 0.03 |
| GBP	RABOBANK NEDERLAND NV-SUB VAR 08-PRP | 100 000.00 | 196 025.01 | 0.03 |
| GBP	SANTANDER UK GROUP HOLD PLC-REG-S-SUB 6.750%/VAR 17-PRP | 200 000.00 | 279 396.00 | 0.04 |
| Total GBP |  | 2 469 087.38 | 0.36 |
| USD |  |  |  |
| USD	CREDIT SUISSE GROUP AG-REG-S-SUB 7.500%/VAR 18-PRP | 730 000.00 | 795 043.00 | 0.11 |
| USD	QBE INSURANCE GROUP LTD-REG-S-SUB 6.750%/VAR 14-02.12.44 | 380 000.00 | 423 654.40 | 0.06 |
| USD	SCOR SE-REG-S-SUB 5.250%/VAR 18-PRP | 200 000.00 | 197 000.00 | 0.03 |
| USD	WESTPAC BANKING CORP-SUB 5.000%/VAR 17-PRP | 200 000.00 | 197 942.00 | 0.03 |
| Total USD |  | 1 613 639.40 | 0.23 |
| Total Bonds, floating rate |  | 10 214 105.90 | 1.48 |

UBS (Lux) Bond SICAV – Global Dynamic (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) |  |
| Treasury notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 3.12500% 14-15.08.44 | 2 500 000.00 | 2 940 820.25 | 0.43 |
| USD	AMERICA, UNITED STATES OF 3.00000% 17-15.05.47 | 1 200 000.00 | 1 397 109.36 | 0.20 |
| USD	AMERICA, UNITED STATES OF 2.87500% 19-15.05.49 | 2 000 000.00 | 2 289 531.19 | 0.33 |
| USD	AMERICA, UNITED STATES OF 1.87500% 17-31.07.22 | 675 000.00 | 679 693.34 | 0.10 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.08.27 | 600 000.00 | 622 101.54 | 0.09 |
| USD	AMERICA, UNITED STATES OF 2.87500% 18-30.04.25 | 30 000 000.00 | 31 867 968.00 | 4.61 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-31.12.23 | 9 000 000.00 | 9 222 890.40 | 1.33 |
| USD	AMERICA, UNITED STATES OF 2.50000% 14-15.05.24 | 6 000 000.00 | 6 223 125.00 | 0.90 |
| Total USD |  | 55 243 239.08 | 7.99 |
| Total Treasury notes, fixed rate |  | 55 243 239.08 | 7.99 |
| Treasury notes, floating rate |  |  |  |
| BRL |  |  |  |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF 6.000%/IPCA LINKD 10-15.08.50 | 1 050.00 | 1 154 289.34 | 0.17 |
| Total BRL |  | 1 154 289.34 | 0.17 |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 0.500%/CPI LINKED 19-15.04.24 | 6 000 000.00 | 6 177 297.71 | 0.89 |
| USD	AMERICA, UNITED STATES OF 0.625%/CPI LINKED 16-15.01.26 | 20 000 000.00 | 22 166 353.11 | 3.21 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 15-15.07.25 | 22 000 000.00 | 24 132 346.67 | 3.49 |
| USD	AMERICA, UNITED STATES OF 0.750%/CPI LINKED 18-15.07.28 | 5 000 000.00 | 5 367 294.36 | 0.78 |
| Total USD |  | 57 843 291.85 | 8.37 |
| Total Treasury notes, floating rate |  | 58 997 581.19 | 8.54 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 369 794 485.12 | 53.49 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Asset Backed Securities, fixed rate |  |  |  |
| USD |  |  |  |
| USD	DRIVE AUTO RECEIVABLES TRUST-144A 4.18000% 16-15.03.24 | 1 000 000.00 | 1 012 243.68 | 0.14 |
| USD	SOFI CONSUMER LOAN PROGRAM-144A 3.85000% 17-25.05.26 | 1 000 000.00 | 1 021 462.30 | 0.15 |
| Total USD |  | 2 033 705.98 | 0.29 |
| Total Asset Backed Securities, fixed rate |  | 2 033 705.98 | 0.29 |
| Asset Backed Securities, floating rate |  |  |  |
| USD |  |  |  |
| USD	SOFI PROFESSIONA LOAN PROGRAM LLC-144A VAR 17-26.03.40 | 850 000.00 | 906 802.61 | 0.13 |
| Total USD |  | 906 802.61 | 0.13 |
| Total Asset Backed Securities, floating rate |  | 906 802.61 | 0.13 |
| Mortgage Backed Securities, fixed rate |  |  |  |
| USD |  |  |  |
| USD	BANK BNK-144A 3.00000% 18-01.11.61 | 2 000 000.00 | 1 799 995.40 | 0.26 |
| USD	BENCHMARK MORTGAGE TRUST-SUB 4.51000% 18-01.05.53 | 2 000 000.00 | 2 303 158.20 | 0.33 |
| USD	BENCHMARK MORTGAGE TRUST-SUB 3.97900% 19-01.03.62 | 1 350 000.00 | 1 475 110.31 | 0.21 |
| USD	CITIGROUP COMMERCIAL MORTGAGE 3.36600% 16-01.11.49 | 1 500 000.00 | 1 556 495.70 | 0.23 |
| USD	CITIGROUP COMMERCIAL MORTGAGE TRST-144A 3.00000% 17-01.10.50 | 1 861 000.00 | 1 691 775.37 | 0.25 |
| USD	COMM 2015-CCRE24 MORTGAGE TRUST-SUB 3.46300% 15-01.08.48 | 2 500 000.00 | 2 346 423.75 | 0.34 |
| USD	COMM MORTGAGE TRUST-SUB 4.22800% 18-01.05.51 | 2 500 000.00 | 2 795 308.25 | 0.40 |
| USD	GS MORTGAGE SECURITIES-144A 2.70000% 17-01.11.50 | 1 100 000.00 | 1 001 273.35 | 0.15 |
| USD	HILTON USA TRUST-144A-SUB 5.51909% 16-01.11.35 | 325 000.00 | 325 396.66 | 0.05 |
| USD	JPMDB COMM MRTG SEC TRST-144A-SUB 3.00000% 17-01.10.50 | 1 000 000.00 | 896 406.60 | 0.13 |
| USD	JPMDB COMMERCIAL MORTGAGE TRT 4.42100% 18-01.06.51 | 1 150 000.00 | 1 277 240.25 | 0.19 |
| USD	MORGAN STANLEY BOA MERR LYH TRT 15-C24 3.73200% 15-01.05.48 | 800 000.00 | 857 558.72 | 0.12 |
| USD	MORGAN STANLEY CAPITAL INC-SUB 3.33000% 17-01.12.50 | 450 000.00 | 476 582.99 | 0.07 |
| USD	MORGAN STANLEY CAPITAL I TRUST-144A 3.00000% 18-01.12.51 | 2 000 000.00 | 1 750 467.20 | 0.25 |
| USD	WELLS FRGO COM MRTGAGE TRST-144A-SUB 3.00000% 18-01.08.51 | 1 000 000.00 | 916 306.60 | 0.13 |
| Total USD |  | 21 469 499.35 | 3.11 |
| Total Mortgage Backed Securities, fixed rate |  | 21 469 499.35 | 3.11 |
| Mortgage Backed Securities, floating rate |  |  |  |
| USD |  |  |  |
| USD	ASHFORD HOSPITALITY TRT-144A 1M LIBOR+310BP 18-15.04.35 | 1 750 000.00 | 1 749 986.35 | 0.25 |
| USD	AVENTURA MALL TRUST-144A FLR 18-01.07.40 | 2 060 000.00 | 2 300 367.60 | 0.33 |
| USD	BANK 2017-BNK9-144A-SUB VAR 17-01.11.54 | 2 000 000.00 | 1 753 048.60 | 0.25 |
| USD	BANK-BNK14-144A-SUB VAR 18-01.09.60 | 400 000.00 | 344 362.32 | 0.05 |
| USD	BANK-BNK7-SUB VAR 17-01.09.60 | 250 000.00 | 262 690.95 | 0.04 |
| USD	BANK-SUB FLR 18-01.02.61 | 895 000.00 | 943 891.17 | 0.14 |
| USD	BBCMS TRUST CBM-144A 1M LIBOR+119.1098BP 18-15.07.37 | 1 650 000.00 | 1 649 973.44 | 0.24 |
| USD	BENCHMARK 2018-B2 MORTGAGE TRUST-SUB FLR 18-01.02.51 | 1 400 000.00 | 1 527 339.66 | 0.22 |
| USD	BENCHMARK MORTGAGE TRUST-144A-SUB FLR 18-01.02.51 | 897 000.00 | 800 748.05 | 0.12 |
| USD	BENCHMARK MORTGAGE TRUST-SUB FLR 18-01.10.51 | 1 500 000.00 | 1 679 091.90 | 0.24 |
| USD	BENCHMARK MORTGAGE TRUST-SUB FLR 18-01.10.51 | 1 950 000.00 | 2 105 629.31 | 0.30 |
| USD	BENCHMARK MORTGAGE TRUST FLR 18-01.01.52 | 2 000 000.00 | 2 261 503.20 | 0.33 |
| USD	BX TRUST-144A 1M LIBOR+80BP 18-15.05.35 | 1 300 000.00 | 1 295 111.09 | 0.19 |
| USD	BX TRUST-144A 1M LIBOR+122BP 18-15.05.35 | 2 000 000.00 | 1 999 973.20 | 0.29 |

UBS (Lux) Bond SICAV – Global Dynamic (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 | CAESARS PALACE LAS VEGAS TRUST-144A-SUB VAR 17-01.10.34 | 275 000.00 | 284 939.35 | 0.04 |
| USD | CD MORTGAGE TRUST FLR 17-01.11.50 | 2 220 000.00 | 2 365 100.53 | 0.34 |
| USD | CD MORTGAGE TRUST FLR 17-01.11.50 | 500 000.00 | 525 578.25 | 0.08 |
| USD | CSAIL 2015-C4 COMMERCIAL MORTGAGE TRUST-SUB VAR 15-01.11.48 | 500 000.00 | 531 026.25 | 0.08 |
| USD | CSWF TOP-144A-SUB FLR 18-15.08.35 | 1 625 000.00 | 1 624 476.42 | 0.23 |
| USD | GS MORTGAGE SECURITIES TRUST 2014-SUB VAR 14-01.01.47 | 500 000.00 | 494 593.00 | 0.07 |
| USD | GS MORTGAGE SECURITIES TRUST-144A-SUB VAR 17-01.10.32 | 2 550 000.00 | 2 578 201.47 | 0.37 |
| USD | JP MORGAN CHASE MORTGAGE SECURITIES-144A-SUB FLR 18-01.01.31 | 2 045 000.00 | 2 101 887.81 | 0.30 |
| USD | JP MORGAN CHASE MORTGAGE SECURITIES-144A-SUB FLR 18-01.01.31 | 2 000 000.00 | 2 042 609.60 | 0.30 |
| USD | JPMCC MORTGAGE SECURITIES-144A 1M LIBOR+300BP 18-15.02.35 | 1 500 000.00 | 1 499 978.25 | 0.22 |
| USD | ROSSLYN PORTFOLIO TRUST ROSS 1M LIBOR+300BP 17-15.06.33 | 700 000.00 | 703 463.67 | 0.10 |
| USD | WELLS FARGO COMMERCIAL MORTGAGE FLR 17-01.12.50 | 1 400 000.00 | 1 502 682.44 | 0.22 |
| USD | WORLDWIDE PLAZA TRUST-144A-SUB FLR 17-01.11.36 | 2 675 000.00 | 2 838 363.06 | 0.41 |
| Total USD |  |  | 39 766 616.94 | 5.75 |
| Total Mortgage Backed Securities, floating rate |  | 39 766 616.94 | 5.75 |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	ALTRIA GROUP INC 4.25000% 12-09.08.42 | 150 000.00 | 150 984.03 | 0.02 |
| USD	BNP PARIBAS-144A 4.40000% 18-14.08.28 | 200 000.00 | 222 227.38 | 0.03 |
| USD	BRAZIL MINAS SPE-REG-S 5.33300% 13-15.02.28 | 200 000.00 | 193 320.00 | 0.03 |
| USD	BRISTOL-MYERS SQUIBB CO-144A 2.60000% 19-16.05.22 | 235 000.00 | 239 019.63 | 0.03 |
| USD	BRISTOL-MYERS SQUIBB CO-144A 4.25000% 19-26.10.49 | 1 040 000.00 | 1 235 133.22 | 0.18 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.62500% 18-15.01.24 | 200 000.00 | 205 810.86 | 0.03 |
| USD	CCO HOLDINGS LLC/CAPITAL CORP-144A 5.50000% 16-01.05.26 | 500 000.00 | 527 500.00 | 0.08 |
| USD	CITIGROUP INC-SUB 4.60000% 16-09.03.26 | 200 000.00 | 220 126.10 | 0.03 |
| USD	COMMONWEALTH BANK OF AUSTRALIA-144A 2.05000% 17-18.09.20 | 150 000.00 | 149 934.00 | 0.02 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 5.30000% 19-01.10.29 | 355 000.00 | 392 951.55 | 0.06 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 7.12500% 16-15.06.24 | 250 000.00 | 264 375.00 | 0.04 |
| USD	DIAMONDBACK ENERGY INC 3.25000% 19-01.12.26 | 255 000.00 | 254 951.55 | 0.04 |
| USD	ENERGY TRANSFER PARTNERS LP 6.00000% 18-15.06.48 | 400 000.00 | 456 302.12 | 0.07 |
| USD	ENLINK MIDSTREAM PARTNERS LP 4.40000% 14-01.04.24 | 410 000.00 | 377 200.00 | 0.05 |
| USD	ENTERPRISE PRODUCTS OPERATING LLC 4.85000% 13-15.03.44 | 260 000.00 | 297 391.38 | 0.04 |
| USD	FREEPORT-MCMORAN INC 3.87500% 13-15.03.23 | 400 000.00 | 408 160.00 | 0.06 |
| USD	GENERAL MOTORS FINANCIAL CO 4.35000% 18-09.04.25 | 300 000.00 | 316 051.71 | 0.04 |
| USD	GLENCORE FUNDING LLC-144A 4.87500% 19-12.03.29 | 250 000.00 | 270 797.98 | 0.04 |
| USD	GUATEMALA, REPUBLIC OF-REG-S 4.37500% 17-05.06.27 | 2 500 000.00 | 2 547 656.25 | 0.37 |
| USD	HARTFORD FINANCIAL SERVICES GROUP INC 4.40000% 18-15.03.48 | 155 000.00 | 178 108.84 | 0.03 |
| USD	JPMORGAN CHASE & CO-SUB 3.62500% 16-01.12.27 | 300 000.00 | 316 765.47 | 0.05 |
| USD	KRAFT HEINZ FOODS CO-144A 4.87500% 15-15.02.25 | 103 000.00 | 105 917.50 | 0.01 |
| USD	MICROSOFT CORP 3.50000% 12-15.11.42 | 200 000.00 | 219 993.20 | 0.03 |
| USD	MOTIVA ENTERPRISES LLC-144A 6.85000% 10-15.01.40 | 100 000.00 | 121 226.81 | 0.02 |
| USD	MPLX LP-144A 4.25000% 19-01.12.27 | 400 000.00 | 419 416.08 | 0.06 |
| USD	ONCOR ELECTRIC DELIVERY CO 3.70000% 19-15.11.28 | 1 250 000.00 | 1 372 910.00 | 0.20 |
| USD	ORIGIN ENERGY FINANCE LTD-REG-S 5.45000% 11-14.10.21 | 140 000.00 | 147 261.80 | 0.02 |
| USD	PERU, REPUBLIC OF 5.62500% 10-18.11.50 | 500 000.00 | 729 375.00 | 0.10 |
| USD	PETROBRAS GLOBAL FINANCE BV-144A 5.09300% 19-15.01.30 | 461 000.00 | 481 514.50 | 0.07 |
| USD	PETROLEOS MEXICANOS 6.37500% 14-23.01.45 | 200 000.00 | 191 843.76 | 0.03 |
| USD	PHILLIPS 66 PARTNERS LP 4.68000% 15-15.02.45 | 210 000.00 | 226 784.25 | 0.03 |
| USD	SOUTHWESTERN ELECTRIC POWER 6.20000% 10-15.03.40 | 150 000.00 | 199 912.44 | 0.03 |
| USD	SPRINT CORP 7.87500% 14-15.09.23 | 500 000.00 | 549 687.50 | 0.08 |
| USD	TEACHERS INSURANCE&ANNUITY ASS-144A-SUB 4.90000% 14-15.09.44 | 200 000.00 | 250 714.92 | 0.04 |
| USD	WESTPAC BANKING CORP-SUB 4.42100% 19-24.07.39 | 325 000.00 | 351 672.75 | 0.05 |
| Total USD |  | 14 592 997.58 | 2.11 |
| Total Notes, fixed rate |  | 14 592 997.58 | 2.11 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	JPMORGAN CHASE & CO 2.739%/VAR 19-15.10.30 | 540 000.00 | 538 751.07 | 0.08 |
| USD	LLOYDS BANKING GROUP PLC 3.574%/3M LIBOR+120.5BP 17-07.11.28 | 200 000.00 | 206 618.50 | 0.03 |
| USD	STANDARD CHARTERED PLC-REG-S 3.885%/VAR 18-15.03.24 | 400 000.00 | 413 938.52 | 0.06 |
| USD	WESTPAC BANKING CORP-SUB 4.110%/VAR 19-24.07.34 | 450 000.00 | 465 754.50 | 0.07 |
| Total USD |  | 1 625 062.59 | 0.24 |
| Total Notes, floating rate |  | 1 625 062.59 | 0.24 |
| Medium term notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	INTESA SANPAOLO SPA-144A-SUB 7.700%/VAR 15-PRP | 800 000.00 | 854 000.00 | 0.12 |
| Total USD |  | 854 000.00 | 0.12 |
| Total Medium term notes, floating rate |  | 854 000.00 | 0.12 |
| Bonds, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	PANTHER BF AGGR 2/PANTHER FIN CO-REG-S 4.37500% 19-15.05.26 | 1 460 000.00 | 1 674 187.84 | 0.24 |
| Total EUR |  | 1 674 187.84 | 0.24 |
| USD |  |  |  |
| USD	FIVE CORNERS FUNDING TRUST-144A 4.41900% 13-15.11.23 | 200 000.00 | 216 346.28 | 0.03 |
| USD	NETFLIX INC 4.37500% 16-15.11.26 | 500 000.00 | 506 250.00 | 0.08 |
| USD	PHILLIPS 66 4.65000% 14-15.11.34 | 250 000.00 | 293 637.43 | 0.04 |
| Total USD |  | 1 016 233.71 | 0.15 |
| Total Bonds, fixed rate |  | 2 690 421.55 | 0.39 |

UBS (Lux) Bond SICAV – Global Dynamic (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) |  |
| Bonds, floating rate |  |  |  |
| JPY |  |  |  |
| JPY	JAPAN 0.100%/CPI LINKED 19-10.03.29 | 1 200 000 000.00 | 11 327 944.05 | 1.64 |
| Total JPY |  | 11 327 944.05 | 1.64 |
| NZD |  |  |  |
| NZD	NEW ZEALAND 2.500%/CPI LINKED 17-20.09.40 | 60 500 000.00 | 56 020 192.06 | 8.10 |
| NZD	NEW ZEALAND 3.000%/CPI LINKED 13-20.09.30 | 37 000 000.00 | 33 101 743.12 | 4.79 |
| NZD	NEW ZEALAND-REG-S 2.500%/CPI LINKED 14-20.09.35 | 25 000 000.00 | 22 340 848.07 | 3.23 |
| Total NZD |  | 111 462 783.25 | 16.12 |
| Total Bonds, floating rate |  | 122 790 727.30 | 17.76 |
| Treasury notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 1.75000% 17-30.06.22 | 1 300 000.00 | 1 305 179.59 | 0.19 |
| USD	AMERICA, UNITED STATES OF 2.00000% 13-15.02.23 | 6 200 000.00 | 6 275 077.66 | 0.91 |
| Total USD |  | 7 580 257.25 | 1.10 |
| Total Treasury notes, fixed rate |  | 7 580 257.25 | 1.10 |
| Treasury notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 0.750%/CPI LINKED 15-15.02.45 | 25 500 000.00 | 29 383 808.67 | 4.25 |
| USD	AMERICA, UNITED STATES OF 1.000%/INFLATION LINKD 16-15.02.46 | 21 000 000.00 | 25 497 696.09 | 3.69 |
| Total USD |  | 54 881 504.76 | 7.94 |
| Total Treasury notes, floating rate |  | 54 881 504.76 | 7.94 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 269 191 595.91 | 38.94 |

Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market
Asset Backed Securities, fixed rate
| USD |  |
| --- | --- |
| USD | AMERICREDIT AUTOMOBILE RECEIVABLES TRST 2.71000% 16-08.09.22 | 1 000 000.00 | 1 006 237.10 | 0.14 |
| Total USD |  |  | 1 006 237.10 | 0.14 |
| Total Asset Backed Securities, fixed rate |  | 1 006 237.10 | 0.14 |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	NOBLE ENERGY INC 3.85000% 17-15.01.28 | 250 000.00 | 259 768.72 | 0.04 |
| Total USD |  | 259 768.72 | 0.04 |
| Total Notes, fixed rate | 259 768.72 | 0.04 |
| Total Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market | 1 266 005.82 | 0.18 |
| UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 |  |  |
| Investment funds, open end |  |  |
| Ireland |  |  |
| USD	UBS (IRL) SELECT MONEY MARKET FUND-USD-S-DIST	880.59 | 8 805 940.00 | 1.27 |
| Total Ireland | 8 805 940.00 | 1.27 |
| Luxembourg |  |  |
| USD	UBS (LUX) BOND SICAV - MULTI INCOME (USD) U-X-ACC	500.00 | 5 054 650.00 | 0.73 |
| Total Luxembourg | 5 054 650.00 | 0.73 |
| Total Investment funds, open end | 13 860 590.00 | 2.00 |
| Total UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 | 13 860 590.00 | 2.00 |
| Total investments in securities | 654 112 676.85 | 94.61 |

| Derivative instruments |  |
| --- | --- |
| Derivative instruments listed on an official stock exchange Financial Futures on bonds |
|  |  |  |  |
| EUR	EURO BTP ITALY GOVERMENT FUTURE 06.12.19 | -20.00 | 95 705.68 | 0.01 |
| EUR	EURO-BUND FUTURE 06.12.19 | -315.00 | 1 301 101.08 | 0.19 |
| EUR	EURO-BOBL FUTURE 06.12.19 | -190.00 | 439 937.40 | 0.06 |
| EUR	EURO-BUXL FUTURE 06.12.19 | -170.00 | 1 969 459.71 | 0.29 |
| EUR	EURO-OAT FUTURE 06.12.19 | 41.00 | -182 182.60 | -0.03 |
| GBP	LONG GILT FUTURE 27.03.20 | 35.00 | -33 501.65 | 0.00 |
| JPY	JAPAN GOVERNMENT 10Y BOND (OSE) FUTURE 13.12.19 | 37.00 | -134 211.49 | -0.02 |
| AUD	AUSTRALIA 10YR BOND FUTURE 16.12.19 | -10.00 | -9 399.52 | 0.00 |

UBS (Lux) Bond SICAV – Global Dynamic (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 | US 10YR ULTRA NOTE FUTURE 20.03.20 | -80.00 | 18 750.00 | 0.00 |
| USD | US 5YR TREASURY NOTE FUTURE 31.03.20 | -950.00 | 37 109.85 | 0.01 |
| USD | US ULTRA LONG BOND (CBT) FUTURE 20.03.20 | 235.00 | 20 195.20 | 0.00 |
| USD | US 2YR TREASURY NOTE FUTURE 31.03.20 | -900.00 | 0.00 | 0.00 |
| USD | US 10YR TREASURY NOTE FUTURE 20.03.20 | -250.00 | 41 015.75 | 0.01 |
| Total Financial Futures on bonds | 3 563 979.41 | 0.52 |
| Total Derivative instruments listed on an official stock exchange | 3 563 979.41 | 0.52 |
| Derivative instruments not listed on an official stock exchange and not traded on another regulated market |  |  |
| Swaps and forward swaps on interest rates |  |  |
|  |  |  |
| CAD	LCH/INTEREST RATE SWAP PAYER 3.49750% 19-25.06.24	-5 000 000.00 CAD	LCH/INTEREST RATE SWAP REC CAB3M 19-25.06.24 | -299 206.87 | -0.04 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.29200% 20-03.02.25	-8 000 000.00 USD	LCH/INTEREST RATE SWAP REC 3ML 20-03.02.25 | -273 404.56 | -0.04 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.37200% 15-28.04.45	-2 000 000.00 USD	LCH/INTEREST RATE SWAP REC 3ML 15-28.04.45 | -209 330.87 | -0.03 |
| GBP	LCH/INTEREST RATE SWAP PAYER 2.27700% 15-13.05.45	-1 200 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 15-13.05.45 | -456 006.96 | -0.07 |
| GBP	LCH/INTEREST RATE SWAP PAYER 2.33100% 15-14.05.45	-1 200 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 15-14.05.45 | -475 495.71 | -0.07 |
| JPY	LCH/INTEREST RATE SWAP PAYER 1.51890% 15-05.06.45	-300 000 000.00 JPY	LCH/INTEREST RATE SWAP REC 6ML 15-05.06.45 | -835 401.21 | -0.12 |
| JPY	LCH/INTEREST RATE SWAP PAYER 1.55125% 15-08.06.45	-300 000 000.00 JPY	LCH/INTEREST RATE SWAP REC 6ML 15-08.06.45 | -857 770.66 | -0.12 |
| JPY	LCH/INTEREST RATE SWAP PAYER 1.56450% 15-15.06.45	-200 000 000.00 JPY	LCH/INTEREST RATE SWAP REC 6ML 15-15.06.45 | -577 855.64 | -0.08 |
| GBP	LCH/INTEREST RATE SWAP PAYER 2.36950% 15-12.06.45	-800 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 15-12.06.45 | -333 721.06 | -0.05 |
| JPY	LCH/INTEREST RATE SWAP PAYER 1.45625% 15-23.06.45	-200 000 000.00 JPY	LCH/INTEREST RATE SWAP REC 6ML 15-23.06.45 | -527 171.90 | -0.08 |
| GBP	LCH/INTEREST RATE SWAP PAYER 2.43600% 15-25.06.45	-1 200 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 15-25.06.45 | -525 020.73 | -0.08 |
| JPY	LCH/INTEREST RATE SWAP PAYER 1.52750% 15-06.07.45	-300 000 000.00 JPY	LCH/INTEREST RATE SWAP REC 6ML 15-06.07.45 | -840 060.26 | -0.12 |
| GBP	LCH/INTEREST RATE SWAP PAYER 2.47600% 15-13.07.45	-1 200 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 15-13.07.45 | -539 605.98 | -0.08 |
| GBP	LCH/INTEREST RATE SWAP PAYER 2.46100% 15-15.07.45	-1 600 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 15-15.07.45 | -712 383.86 | -0.10 |
| GBP	LCH/INTEREST RATE SWAP PAYER 2.24350% 15-31.07.45	-2 000 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 15-31.07.45 | -756 396.78 | -0.11 |
| GBP	LCH/INTEREST RATE SWAP PAYER 2.08300% 15-04.08.45	-800 000.00 GBP	LCH/INTEREST RATE SWAP REC 3ML 15-04.08.45 | -286 289.88 | -0.04 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.56500% 15-10.11.45	-2 500 000.00 USD	LCH/INTEREST RATE SWAP REC 3ML 15-10.11.45 | -368 099.58 | -0.05 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.60800% 15-19.11.45	-2 400 000.00 USD	LCH/INTEREST RATE SWAP REC 3ML 15-19.11.45 | -375 307.88 | -0.05 |
| JPY	LCH/INTEREST RATE SWAP PAYER 0.56750% 16-05.04.46	-250 000 000.00 JPY	LCH/INTEREST RATE SWAP REC 6ML 16-05.04.46 | -135 321.70 | -0.02 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.12350% 16-18.04.46	-2 000 000.00 USD	LCH/INTEREST RATE SWAP REC 3ML 16-18.04.46 | -107 714.01 | -0.02 |
| JPY	LCH/INTEREST RATE SWAP PAYER 0.59900% 16-30.04.46	-200 000 000.00 JPY	LCH/INTEREST RATE SWAP REC 6ML 16-30.04.46 | -122 298.17 | -0.02 |
| JPY	LCH/INTEREST RATE SWAP PAYER 0.52500% 16-23.09.46	-210 000 000.00 JPY	LCH/INTEREST RATE SWAP REC 6ML 16-23.09.46 | -92 006.42 | -0.01 |
| GBP	LCH/INTEREST RATE SWAP PAYER 1.19900% 16-11.10.46	-1 000 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 16-11.10.46 | -59 099.47 | -0.01 |
| GBP	LCH/INTEREST RATE SWAP PAYER 1.21650% 16-13.10.46	-1 500 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 16-13.10.46 | -96 876.51 | -0.01 |
| SEK	LCH/INTEREST RATE SWAP PAYER 0.30750% 17-14.02.22	-50 000 000.00 SEK	LCH/INTEREST RATE SWAP REC 3MS 17-14.02.22 | -23 329.58 | 0.00 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.39400% 17-23.03.27	-4 600 000.00 USD	LCH/INTEREST RATE SWAP REC 3ML 17-23.03.27 | -245 249.29 | -0.04 |
| GBP	LCH/INTEREST RATE SWAP PAYER 1.43900% 17-29.03.47	-1 250 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 17-29.03.47 | -172 043.91 | -0.03 |
| GBP	LCH/INTEREST RATE SWAP PAYER 1.40950% 17-31.03.47	-1 250 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 17-31.03.47 | -160 172.74 | -0.02 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.34600% 17-07.04.27	-5 000 000.00 USD	LCH/INTEREST RATE SWAP REC 3ML 17-07.04.27 | -250 818.65 | -0.04 |
| SEK	LCH/INTEREST RATE SWAP PAYER 0.23250% 17-22.05.22	-45 000 000.00 SEK	LCH/INTEREST RATE SWAP REC 3MS 17-22.05.22 | -6 556.25 | 0.00 |
| JPY	LCH/INTEREST RATE SWAP PAYER 0.79150% 17-29.05.47	-160 000 000.00 JPY	LCH/INTEREST RATE SWAP REC 6ML 17-29.05.47 | -172 673.46 | -0.03 |
| JPY	LCH/INTEREST RATE SWAP PAYER 0.87750% 17-28.07.47	-160 000 000.00 JPY	LCH/INTEREST RATE SWAP REC 6ML 17-28.07.47 | -211 707.43 | -0.03 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.57230% 17-01.08.47	-1 800 000.00 USD	LCH/INTEREST RATE SWAP REC 3ML 17-01.08.47 | -293 278.61 | -0.04 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.24850% 17-02.08.27	-4 300 000.00 USD	LCH/INTEREST RATE SWAP REC 3ML 17-02.08.27 | -216 402.81 | -0.03 |
| SEK	LCH/INTEREST RATE SWAP PAYER 0.43500% 17-21.09.22	-40 000 000.00 SEK	LCH/INTEREST RATE SWAP REC 3MS 17-21.09.22 | -27 857.47 | 0.00 |
| GBP	LCH/INTEREST RATE SWAP PAYER 1.72300% 18-21.02.48	-1 200 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 18-21.02.48 | -284 748.27 | -0.04 |
| JPY	LCH/INTEREST RATE SWAP PAYER 0.91625% 18-27.02.48	-160 000 000.00 JPY	LCH/INTEREST RATE SWAP REC 6ML 18-27.02.48 | -228 828.41 | -0.03 |
| SEK	LCH/INTEREST RATE SWAP PAYER 0.49750% 18-10.04.23	-75 000 000.00 SEK	LCH/INTEREST RATE SWAP REC 3MS 18-10.04.23 | -92 407.96 | -0.01 |
| SEK	LCH/INTEREST RATE SWAP PAYER 0.52100% 18-02.05.23	-60 000 000.00 SEK	LCH/INTEREST RATE SWAP REC 3MS 18-02.05.23 | -77 051.60 | -0.01 |
| SEK	LCH/INTEREST RATE SWAP PAYER 0.52500% 18-07.05.23	-80 000 000.00 SEK	LCH/INTEREST RATE SWAP REC 3MS 18-07.05.23 | -103 066.50 | -0.02 |

UBS (Lux) Bond SICAV – Global Dynamic (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) |  |
|  |  |  |  |  |
| SEK | LCH/INTEREST RATE SWAP PAYER 0.67400% 18-19.10.23 | -75 000 000.00 | -130 542.64 | -0.02 |
| SEK | LCH/INTEREST RATE SWAP REC 3MS 18-19.10.23 |  |  |  |
| SEK | LCH/INTEREST RATE SWAP PAYER 0.65750% 18-23.10.23 | -75 000 000.00 | -125 241.46 | -0.02 |
| SEK | LCH/INTEREST RATE SWAP REC 3MS 18-23.10.23 |  |  |  |
| SEK | LCH/INTEREST RATE SWAP PAYER 0.59400% 18-31.10.23 | -75 000 000.00 | -104 279.86 | -0.02 |
| SEK | LCH/INTEREST RATE SWAP REC 3MS 18-31.10.23 |  |  |  |
| JPY | LCH/INTEREST RATE SWAP PAYER 0.71375% 18-27.12.48 | -440 000 000.00 | -410 325.85 | -0.06 |
| JPY | LCH/INTEREST RATE SWAP REC 6ML 18-27.12.48 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAYER 1.55291% 19-01.02.49 | -1 200 000.00 | -223 870.66 | -0.03 |
| GBP | LCH/INTEREST RATE SWAP REC 6ML 19-01.02.49 |  |  |  |
| SEK | LCH/INTEREST RATE SWAP PAYER 0.43750% 19-05.02.24 | -65 000 000.00 | -68 399.99 | -0.01 |
| SEK | LCH/INTEREST RATE SWAP REC 3MS 19-05.02.24 |  |  |  |
| JPY | LCH/INTEREST RATE SWAP PAYER 0.63500% 19-14.03.49 | -390 000 000.00 | -278 545.49 | -0.04 |
| JPY | LCH/INTEREST RATE SWAP REC 6ML 19-14.03.49 |  |  |  |
| CHF | LCH/INTEREST RATE SWAP PAYER -0.49000% 19-09.04.23 | -22 000 000.00 | -68 127.92 | -0.01 |
| CHF | LCH/INTEREST RATE SWAP REC 6ML 19-09.04.23 |  |  |  |
| JPY | LCH/INTEREST RATE SWAP PAYER 0.54275% 19-10.04.49 | -355 000 000.00 | -166 584.94 | -0.02 |
| JPY | LCH/INTEREST RATE SWAP REC 6ML 19-10.04.49 |  |  |  |
| CHF | LCH/INTEREST RATE SWAP PAYER -0.39500% 19-11.04.24 | -15 200 000.00 | -119 512.45 | -0.02 |
| CHF | LCH/INTEREST RATE SWAP REC 6ML 19-11.04.24 |  |  |  |
| SEK | LCH/INTEREST RATE SWAP PAYER 0.38000% 19-12.04.24 | -145 000 000.00 | -99 683.73 | -0.01 |
| SEK | LCH/INTEREST RATE SWAP REC 3MS 19-12.04.24 |  |  |  |
| CHF | LCH/INTEREST RATE SWAP PAYER -0.36000% 19-23.04.24 | -19 000 000.00 | -178 453.40 | -0.03 |
| CHF | LCH/INTEREST RATE SWAP REC 6ML 19-23.04.24 |  |  |  |
| CHF | LCH/INTEREST RATE SWAP PAYER -0.57750% 19-14.06.24 | -14 000 000.00 | -16 202.18 | 0.00 |
| CHF | LCH/INTEREST RATE SWAP REC 6ML 19-14.06.24 |  |  |  |
| SEK | LCH/INTEREST RATE SWAP PAYER 0.13200% 19-14.06.24 | -120 000 000.00 | 86 141.76 | 0.01 |
| SEK | LCH/INTEREST RATE SWAP REC 3MS 19-14.06.24 |  |  |  |
| SEK | LCH/INTEREST RATE SWAP PAYER 0.27400% 19-13.08.29 | -90 000 000.00 | 243 827.67 | 0.04 |
| SEK | LCH/INTEREST RATE SWAP REC 3MS 19-13.08.29 |  |  |  |
| CHF | LCH/INTEREST RATE SWAP PAYER -0.81250% 19-13.08.24 | -20 000 000.00 | 214 125.92 | 0.03 |
| CHF | LCH/INTEREST RATE SWAP REC 6ML 19-13.08.24 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.58300% 24-23.09.29 | -54 000 000.00 | 274 564.07 | 0.04 |
| NZD | LCH/INTEREST RATE SWAP REC 3MF 24-23.09.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.20750% 19-27.09.29 | -35 900 000.00 | 569 018.72 | 0.08 |
| NZD | LCH/INTEREST RATE SWAP REC 3MF 19-27.09.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.47300% 24-14.10.29 | -55 000 000.00 | 469 906.29 | 0.07 |
| NZD | LCH/INTEREST RATE SWAP REC 3MF 24-14.10.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.67500% 24-30.10.29 | -32 000 000.00 | 87 608.53 | 0.01 |
| NZD | LCH/INTEREST RATE SWAP REC 3MF 24-30.10.29 |  |  |  |
| CHF | LCH/INTEREST RATE SWAP PAYER -0.52250% 19-21.11.24 | -25 500 000.00 | -65 407.21 | -0.01 |
| CHF | LCH/INTEREST RATE SWAP REC 6ML 19-21.11.24 |  |  |  |
| INR | CITI/INTEREST RATE SWAP PAYER 4.98000% 19-29.11.24 | -3 885 000 000.00 | 12 028.82 | 0.00 |
| INR | CITI/INTEREST RATE SWAP REC 6MFMBCMP 19-29.11.24 |  |  |  |
| NZD | BC/INTEREST RATE SWAP REC 5.20000% 13-09.12.23 | 1 200 000.00 | 138 862.40 | 0.02 |
| NZD | BC/INTEREST RATE SWAP PAYER 3MFRA 13-09.12.23 |  |  |  |
| NZD | BC/INTEREST RATE SWAP REC 5.14300% 14-17.02.24 | 2 100 000.00 | 238 665.77 | 0.03 |
| NZD | BC/INTEREST RATE SWAP PAYER 3ML 14-17.02.24 |  |  |  |
| CAD | LCH/INTEREST RATE SWAP REC 2.34500% 20-03.02.25 | 10 000 000.00 | 185 023.56 | 0.03 |
| CAD | LCH/INTEREST RATE SWAP PAYER CAB3M 20-03.02.25 |  |  |  |
| CNY | UBS/INTEREST RATE SWAP REC 2.75000% 15-13.08.20 | 75 000 000.00 | 6 933.97 | 0.00 |
| CNY | UBS/INTEREST RATE SWAP PAYER CNRR007 15-13.08.20 |  |  |  |
| CNY | MORGAN STANLEY/INTEREST RATE SWAP REC 2.70000% 15-18.09.20 | 90 000 000.00 | 3 036.25 | 0.00 |
| CNY | MORGAN STANLEY/INTEREST RATE SWAP PAYER CNRR007 15-18.09.20 |  |  |  |
| JPY | LCH/INTEREST RATE SWAP REC 1.85125% 25-27.10.45 | 350 000 000.00 | 875 352.78 | 0.13 |
| JPY | LCH/INTEREST RATE SWAP PAYER 6ML 25-22.10.45 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 2.88000% 16-22.04.21 | 65 000 000.00 | 26 638.14 | 0.00 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 16-22.04.21 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 6.28000% 16-23.07.26 | 95 000 000.00 | -134 811.76 | -0.02 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 16-23.07.26 |  |  |  |
| JPY | LCH/INTEREST RATE SWAP REC 0.32000% 16-21.09.31 | 400 000 000.00 | 96 320.02 | 0.01 |
| JPY | LCH/INTEREST RATE SWAP PAYER 6ML 16-21.09.31 |  |  |  |
| AUD | LCH/INTEREST RATE SWAP REC 2.12600% 17-10.07.20 | 9 000 000.00 | 59 585.36 | 0.01 |
| AUD | LCH/INTEREST RATE SWAP PAYER 3MB 17-10.07.20 |  |  |  |
| ZAR | LCH/INTEREST RATE SWAP REC 8.31500% 18-11.06.28 | 45 000 000.00 | 133 615.83 | 0.02 |
| ZAR | LCH/INTEREST RATE SWAP PAYER 3M 18-11.06.28 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 8.40000% 18-09.10.28 | 115 000 000.00 | 621 132.72 | 0.09 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 18-09.10.28 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 8.74000% 18-17.10.28 | 60 000 000.00 | 396 411.47 | 0.06 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 18-17.10.28 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 8.87500% 18-18.10.28 | 125 000 000.00 | 885 589.36 | 0.13 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 18-18.10.28 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP REC 1.77500% 18-16.11.48 | 2 000 000.00 | 514 562.33 | 0.07 |
| GBP | LCH/INTEREST RATE SWAP PAYER 6ML 18-16.11.48 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 8.68750% 19-22.12.28 | 160 000 000.00 | 1 040 847.12 | 0.15 |
| MXN | CME/INTEREST RATE SWAP PAYER 19-22.12.28 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 2.95500% 19-19.03.24 | 80 000 000.00 | 37 098.66 | 0.01 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 19-19.03.24 |  |  |  |
| ZAR | LCH/INTEREST RATE SWAP REC 8.08000% 19-20.03.29 | 60 000 000.00 | 92 127.16 | 0.01 |
| ZAR | LCH/INTEREST RATE SWAP PAYER 3MJ 19-20.03.29 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP REC 1.08409% 19-29.03.24 | 18 000 000.00 | 275 731.71 | 0.04 |
| GBP | LCH/INTEREST RATE SWAP PAYER 6ML 19-29.03.24 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 8.07500% 19-19.03.29 | 165 000 000.00 | 714 483.94 | 0.10 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 19-19.03.29 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 3.02250% 19-02.04.24 | 105 000 000.00 | 88 432.12 | 0.01 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAY CNRR007 19-02.04.24 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 3.08000% 19-09.04.24 | 130 000 000.00 | 154 134.55 | 0.02 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 19-09.04.24 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 3.14000% 19-10.04.24 | 110 000 000.00 | 170 022.33 | 0.02 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 19-10.04.24 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP REC 1.43349% 19-10.04.49 | 2 400 000.00 | 347 699.24 | 0.05 |
| GBP | LCH/INTEREST RATE SWAP PAYER 6ML 19-10.04.49 |  |  |  |
| CNY | HSBC/INTEREST RATE SWAP REC 3.23500% 19-17.04.24 | 135 000 000.00 | 284 719.25 | 0.04 |
| CNY | HSBC/INTEREST RATE SWAP PAYER CNRR007 19-17.04.24 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 8.20500% 19-20.04.29 | 160 000 000.00 | 772 415.11 | 0.11 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 19-20.04.29 |  |  |  |

UBS (Lux) Bond SICAV – Global Dynamic (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) |  |
|  |  |  |  |  |
| GBP | LCH/INTEREST RATE SWAP REC 1.22300% 19-07.06.49 | 2 000 000.00 | 148 850.80 | 0.02 |
| GBP | LCH/INTEREST RATE SWAP PAYER 6ML 19-07.06.49 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP REC 1.18689% 19-20.06.49 | 2 900 000.00 | 178 991.12 | 0.03 |
| GBP | LCH/INTEREST RATE SWAP PAYER 6ML 19-20.06.49 |  |  |  |
| ZAR | LCH/INTEREST RATE SWAP REC 7.68000% 19-21.06.29 | 204 000 000.00 | -101 913.58 | -0.01 |
| ZAR | LCH/INTEREST RATE SWAP PAYER 3MJ 19-21.06.29 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 2.87500% 19-25.06.24 | 137 000 000.00 | -18 321.48 | 0.00 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 19-25.06.24 |  |  |  |
| CNY | HSBC/INTEREST RATE SWAP REC 2.87250% 19-16.07.24 | 90 000 000.00 | -16 330.86 | 0.00 |
| CNY | HSBC/INTEREST RATE SWAP PAYER CNRR007 19-16.07.24 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 7.31000% 19-25.07.29 | 220 000 000.00 | 331 753.28 | 0.05 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 19-25.07.29 |  |  |  |
| ZAR | LCH/INTEREST RATE SWAP REC 7.71500% 19-08.08.29 | 190 000 000.00 | -92 009.62 | -0.01 |
| ZAR | LCH/INTEREST RATE SWAP PAYER 3MJ 19-08.08.29 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.77000% 19-28.08.24 | 180 000 000.00 | -161 798.74 | -0.02 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 19-28.08.24 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.83000% 19-30.08.24 | 145 000 000.00 | -75 443.94 | -0.01 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 19-30.08.24 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.78300% 19-10.09.24 | 180 000 000.00 | -148 586.08 | -0.02 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 19-10.09.24 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.94000% 19-19.09.24 | 75 000 000.00 | 16 388.39 | 0.00 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 19-19.09.24 |  |  |  |
| CAD | LCH/INTEREST RATE SWAP REC 1.83100% 24-19.09.29 | 46 000 000.00 | -215 994.28 | -0.03 |
| CAD | LCH/INTEREST RATE SWAP PAYER 3MC 24-19.09.29 |  |  |  |
| CAD | LCH/INTEREST RATE SWAP REC 1.68250% 19-02.10.24 | 30 000 000.00 | -174 088.50 | -0.03 |
| CAD | LCH/INTEREST RATE SWAP PAYER 3MC 19-02.10.24 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 6.68000% 19-26.09.29 | 150 000 000.00 | -141 827.56 | -0.02 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 19-26.09.29 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.96250% 19-21.10.24 | 140 000 000.00 | 44 583.48 | 0.01 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 19-21.10.24 |  |  |  |
| CNY | CITIGROUP/INTEREST RATE SWAP REC 3.03500% 19-23.10.24 | 271 000 000.00 | 216 251.92 | 0.03 |
| CNY | CITIGROUP/INTEREST RATE SWAP PAYER CNRR007 19-23.10.24 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 3.15750% 19-30.10.24 | 111 000 000.00 | 178 855.83 | 0.03 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 19-30.10.24 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP REC 1.22000% 19-21.11.24 | 42 500 000.00 | 19 438.59 | 0.00 |
| NZD | LCH/INTEREST RATE SWAP PAYER 3MF 19-21.11.24 |  |  |  |
| Total Swaps and forward swaps on interest rates |  | -4 512 567.45 | -0.65 |
| Credit default swaps* |  |  |  |
|  |  |  |  |
| USD	ICE/CDX.NA.IG.24 JUN20 CDI PAYER 1.00000% 15-20.06.20 | -14 880 000.00 | -102 928.27 | -0.02 |
| USD	BOA/MEX CREDIT DEFAULT SWAP PAYER 1.00000% 19-20.06.24 | -8 750 000.00 | -88 584.52 | -0.01 |
| USD	CITIBANK/BRAZIL CREDIT DEFAULT SWAP PAYER 1.00000% 19-20.06.24 | -5 500 000.00 | 18 627.71 | 0.00 |
| USD	JPMORGAN/BRAZIL CREDIT DEFAULT SWAP PAYER 1.00000% 19-20.06.24 | -5 500 000.00 | 18 627.71 | 0.00 |
| USD	JP MORGAN/TCKBCN CREDIT DEFAULT SWAP REC 1.00000% 14-20.03.20 | 70 000.00 | 325.54 | 0.00 |
| USD	GOLDMAN SACHS/MEX CREDIT DEFAULT SWAP REC 1.00000% 15-20.09.20 | 7 000 000.00 | 55 352.11 | 0.01 |
| USD	JPMORGAN/MEX CREDIT DEFAULT SWAP REC 1.00000% 15-20.09.20 | 8 000 000.00 | 63 259.56 | 0.01 |
| USD	BOA/TURKEY CREDIT DEFAULT SWAP REC 1.00000% 19-20.06.24 | 8 750 000.00 | -720 045.86 | -0.11 |
| USD	CITIBANK/SOAF CREDIT DEFAULT SWAP REC 1.00000% 19-20.06.24 | 5 500 000.00 | -163 559.31 | -0.02 |
| USD	JPMORGAN/SOAF CREDIT DEFAULT SWAP REC 1.00000% 19-20.06.24 | 5 500 000.00 | -163 559.31 | -0.02 |
| Total Credit default swaps |  | -1 082 484.64 | -0.16 |
| Total Derivative instruments not listed on an official stock exchange and not traded on another regulated market |  | -5 595 052.09 | -0.81 |
| Total Derivative instruments |  | -2 031 072.68 | -0.29 |
| Forward Foreign Exchange contracts |  |  |  |
| Forward Foreign Exchange contracts (Purchase/Sale) |  |  |  |

| USD | 5 882 900.02 | INR | 417 480 000.00 | 5.12.2019 | 62 923.67 | 0.01 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 5 471 324.53 | CLP | 3 951 500 000.00 | 5.12.2019 | 573 078.60 | 0.08 |
| COP | 19 101 203 000.00 | USD | 5 643 729.65 | 5.12.2019 | -225 097.96 | -0.03 |
| USD | 5 675 729.31 | TWD | 171 600 000.00 | 5.12.2019 | 50 882.94 | 0.01 |
| KRW | 6 685 000 000.00 | USD | 5 734 210.55 | 5.12.2019 | -74 233.11 | -0.01 |
| MYR | 23 389 000.00 | USD | 5 596 793.49 | 5.12.2019 | -1 673.58 | 0.00 |
| USD | 10 914 824.26 | CNY | 77 015 000.00 | 5.12.2019 | -43 602.31 | -0.01 |
| USD | 4 253 117.91 | CNY | 30 010 000.00 | 5.12.2019 | -16 990.27 | 0.00 |
| BRL | 55 390 000.00 | USD | 13 726 364.83 | 5.12.2019 | -629 170.35 | -0.09 |
| CLP | 3 951 500 000.00 | USD | 5 350 566.00 | 5.12.2019 | -452 320.07 | -0.07 |
| USD | 5 639 064.45 | COP | 19 101 203 000.00 | 5.12.2019 | 220 432.76 | 0.03 |
| ARS | 192 404 413.00 | USD | 2 983 014.16 | 5.12.2019 | 193 303.51 | 0.03 |
| USD | 14 146 317.04 | JPY | 1 526 000 000.00 | 5.12.2019 | 209 133.38 | 0.03 |
| PLN | 67 520 000.00 | USD | 17 720 817.34 | 5.12.2019 | -456 999.53 | -0.07 |
| NOK | 607 940 000.00 | USD | 66 926 368.07 | 5.12.2019 | -913 757.81 | -0.13 |
| USD | 21 334 341.18 | CAD | 28 055 000.00 | 5.12.2019 | 212 564.40 | 0.03 |
| USD | 122 857 523.77 | NZD | 190 480 000.00 | 5.12.2019 | 581 269.18 | 0.09 |
| USD | 9 867 828.94 | GBP | 7 625 000.00 | 5.12.2019 | 3 976.53 | 0.00 |
| USD | 14 042 676.27 | ZAR | 208 140 000.00 | 5.12.2019 | -155 024.69 | -0.02 |
| AUD | 31 165 000.00 | USD | 21 553 751.40 | 5.12.2019 | -471 797.78 | -0.07 |
| SEK | 324 440 000.00 | USD | 34 022 327.05 | 5.12.2019 | -121 914.40 | -0.02 |
| USD | 181 636 878.45 | EUR | 162 385 000.00 | 5.12.2019 | 2 553 025.10 | 0.37 |
| USD | 5 651 012.09 | THB | 170 660 000.00 | 6.12.2019 | 2 936.28 | 0.00 |
| USD | 1 444 902.08 | CHF | 1 425 000.00 | 5.12.2019 | 18 646.98 | 0.00 |
| HUF | 5 394 550 000.00 | USD | 18 385 374.53 | 5.12.2019 | -592 631.05 | -0.09 |
| USD | 37 812 250.87 | MXN | 724 280 000.00 | 5.12.2019 | 697 950.74 | 0.10 |
| NOK | 11 980 000.00 | EUR | 1 176 052.00 | 5.12.2019 | 3 845.30 | 0.00 |
| AUD | 3 190 000.00 | USD | 2 200 860.11 | 5.12.2019 | -42 944.75 | -0.01 |
| NOK | 17 050 000.00 | EUR | 1 680 173.67 | 5.12.2019 | -1 595.21 | 0.00 |
| SEK | 6 710 000.00 | EUR | 629 654.73 | 5.12.2019 | 6 714.54 | 0.00 |
| USD | 2 033 627.91 | GBP | 1 585 000.00 | 5.12.2019 | -16 759.77 | 0.00 |
| NZD | 8 170 893.33 | AUD | 7 525 000.00 | 5.12.2019 | 154 808.24 | 0.02 |
| EUR | 15 885 000.00 | PLN | 67 786 235.24 | 5.12.2019 | 186 644.92 | 0.03 |
| CLP | 4 828 384 000.00 | USD | 6 380 000.00 | 5.12.2019 | -394 776.09 | -0.06 |

* Positive nominal: the subfund is “Receiver”, negative nominal: the subfund is “Payer”.
UBS (Lux) Bond SICAV – Global Dynamic (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) |  |

Forward Foreign Exchange contracts (Continued)
Forward Foreign Exchange contracts (Purchase/Sale)
| INR | 417 480 000.00 | USD | 5 783 873.65 | 5.12.2019 | 36 102.70 | 0.01 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 17 072 553.70 | EUR | 15 495 000.00 | 5.12.2019 | -15 873.85 | 0.00 |
| MXN | 38 500 000.00 | USD | 1 968 674.55 | 5.12.2019 | 4 182.02 | 0.00 |
| BRL | 8 270 000.00 | USD | 1 976 955.44 | 5.12.2019 | -21 479.75 | 0.00 |
| HUF | 514 600 000.00 | USD | 1 692 346.75 | 5.12.2019 | 4 948.82 | 0.00 |
| COP | 22 323 315 000.00 | USD | 6 495 000.00 | 5.12.2019 | -162 319.17 | -0.02 |
| AUD | 9 330 000.00 | NZD | 9 923 761.20 | 5.12.2019 | -59 035.89 | -0.01 |
| NOK | 17 470 000.00 | CAD | 2 543 473.45 | 5.12.2019 | -17 941.66 | 0.00 |
| NZD | 10 371 172.50 | AUD | 9 750 000.00 | 5.12.2019 | 62 129.45 | 0.01 |
| SEK | 16 910 000.00 | USD | 1 752 674.51 | 5.12.2019 | 14 234.56 | 0.00 |
| USD | 9 628 065.00 | NZD | 15 000 000.00 | 5.12.2019 | -997.47 | 0.00 |
| USD | 2 859 783.85 | CNY | 20 110 000.00 | 5.12.2019 | -1 658.19 | 0.00 |
| NOK | 14 830 000.00 | EUR | 1 466 664.12 | 5.12.2019 | -7 184.90 | 0.00 |
| USD | 6 636 810.16 | MXN | 129 570 000.00 | 5.12.2019 | -2 748.94 | 0.00 |
| AUD | 1 395 000.00 | USD | 949 523.77 | 5.12.2019 | -5 858.59 | 0.00 |
| MYR | 4 789 000.00 | USD | 1 149 819.93 | 5.12.2019 | -4 194.67 | 0.00 |
| KRW | 1 187 000 000.00 | USD | 1 009 611.30 | 5.12.2019 | -4 616.05 | 0.00 |
| EUR | 340 864 000.00 | USD | 376 852 421.12 | 16.1.2020 | 293 333.24 | 0.04 |
| CHF | 104 674 700.00 | USD | 105 368 021.58 | 16.1.2020 | -205 503.30 | -0.03 |
| EUR | 2 052 500.00 | USD | 2 269 344.57 | 16.1.2020 | 1 624.68 | 0.00 |
| USD | 6 785 000.00 | THB | 205 113 264.00 | 6.12.2019 | -3 323.36 | 0.00 |
| INR | 485 127 500.00 | USD | 6 785 000.00 | 5.12.2019 | -21 968.06 | 0.00 |
| EUR | 2 135 900.00 | USD | 2 360 662.89 | 16.1.2020 | 2 583.50 | 0.00 |
| EUR | 1 376 000.00 | USD | 1 519 373.70 | 16.1.2020 | 3 088.51 | 0.00 |
| AUD | 9 750 000.00 | NZD | 10 273 770.00 | 5.12.2019 | 391.11 | 0.00 |
| TWD | 171 600 000.00 | USD | 5 626 229.51 | 5.12.2019 | -1 383.14 | 0.00 |
| USD | 5 637 319.32 | TWD | 171 600 000.00 | 7.1.2020 | 388.34 | 0.00 |
| USD | 6 774 577.57 | INR | 485 127 500.00 | 5.12.2019 | 11 545.63 | 0.00 |
| USD | 6 752 456.27 | MYR | 28 178 000.00 | 5.12.2019 | 11 711.10 | 0.00 |
| MYR | 28 178 000.00 | USD | 6 749 221.56 | 7.1.2020 | -15 452.42 | 0.00 |
| INR | 485 130 000.00 | USD | 6 753 863.29 | 7.1.2020 | -9 531.60 | 0.00 |
| USD | 6 671 921.48 | KRW | 7 872 000 000.00 | 5.12.2019 | 6 948.79 | 0.00 |
| KRW | 7 872 000 000.00 | USD | 6 676 844.78 | 7.1.2020 | -6 407.78 | 0.00 |
| CNY | 127 135 000.00 | USD | 18 091 070.79 | 5.12.2019 | -1 094.00 | 0.00 |
| USD | 18 080 779.35 | CNY | 127 135 000.00 | 7.1.2020 | 2 678.85 | 0.00 |
| EUR | 2 421 200.00 | USD | 2 673 968.44 | 16.1.2020 | 4 945.44 | 0.00 |
| CHF | 786 800.00 | USD | 790 677.48 | 16.1.2020 | -210.74 | 0.00 |
| USD | 5 945 553.50 | CLP | 4 828 384 000.00 | 5.12.2019 | -39 670.41 | -0.01 |
| CLP | 4 828 400 000.00 | USD | 5 955 106.07 | 7.1.2020 | 41 650.71 | 0.01 |
| USD | 15 049 645.39 | BRL | 63 660 000.00 | 5.12.2019 | -3 024.78 | 0.00 |
| USD | 6 356 296.98 | COP | 22 323 315 000.00 | 5.12.2019 | 23 616.15 | 0.00 |
| BRL | 63 660 000.00 | USD | 15 029 038.20 | 7.1.2020 | -165.94 | 0.00 |
| COP | 22 323 315 000.00 | USD | 6 345 095.50 | 7.1.2020 | -24 351.36 | 0.00 |
| USD | 2 198 258.00 | EUR | 2 000 000.00 | 5.12.2019 | -7 411.90 | 0.00 |
| ARS | 192 404 413.00 | USD | 2 946 468.81 | 7.1.2020 | -205 584.63 | -0.03 |
| USD | 3 174 990.31 | ARS | 192 404 413.00 | 5.12.2019 | -1 327.36 | 0.00 |
| EUR | 927 400.00 | USD | 1 022 602.25 | 16.1.2020 | 3 510.72 | 0.00 |
| CHF | 363 400.00 | USD | 364 169.13 | 16.1.2020 | 924.43 | 0.00 |
| Total Forward Foreign Exchange contracts (Purchase/Sale) | 801 067.18 | 0.12 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 54 669 121.53* | 7.91 |
| Bank overdraft and other short-term liabilities | -16 790 282.63 | -2.43 |
| Other assets and liabilities | 595 209.00 | 0.08 |
| Total net assets | 691 356 719.25 | 100.00 |

* As at 30 November 2019, cash amounts serve as collateral for the counterparty Goldman Sachs for an amount of USD 380 000.00, Bank of America for an amount of USD 840 000.00, and Citibank for an amount of USD 380 000.00.
UBS (Lux) Bond SICAV – Global Dynamic (USD) Semi-Annual Report as of 30 November 2019

Translation (ENFR, 2019-11-30):
# UBS (Lux) Bond SICAV – Global Dynamic (USD)
| Données principales |  |
| --- | --- |
|  | ISIN | 30.11.2019 | 31.5.2019 | 31.5.2018 |
| Actif net en USD |  | 691 356 719.25 | 345 226 235.61 | 166 898 136.08 |
| Catégorie (EUR hedged) F-acc | LU1287054065 |  |  |  |
| Actions en circulation |  | 39 312.0000 | 39 312.0000 | 73 800.0000 |
| Valeur nette d’inventaire par action en EUR |  | 108.07 | 104.31 | 100.48 |
| Prix d’émission et de rachat par action en EUR 1 |  | 108.07 | 104.31 | 100.48 |
| Catégorie (EUR hedged) I-B-acc | LU1193130314 |  |  |  |
| Actions en circulation |  | 71 888.0010 | 76 930.6480 | 252 859.7350 |
| Valeur nette d’inventaire par action en EUR |  | 115.08 | 110.81 | 106.22 |
| Prix d’émission et de rachat par action en EUR 1 |  | 115.08 | 110.81 | 106.22 |
| Catégorie I-X-acc | LU1138686867 |  |  |  |
| Actions en circulation |  | 148 191.2100 | 155 684.2320 | 150 835.7230 |
| Valeur nette d’inventaire par action en USD |  | 127.10 | 120.66 | 112.24 |
| Prix d’émission et de rachat par action en USD 1 |  | 127.10 | 120.66 | 112.24 |
| Catégorie (CHF hedged) I-X-acc | LU1557225098 |  |  |  |
| Actions en circulation |  | 220 913.2110 | 76 329.2180 | 24 566.0930 |
| Valeur nette d’inventaire par action en CHF |  | 118.64 | 114.44 | 110.00 |
| Prix d’émission et de rachat par action en CHF 1 |  | 118.64 | 114.44 | 110.00 |
| Catégorie (EUR hedged) I-X-acc | LU1822788151 |  |  |  |
| Actions en circulation |  | 18 095.2770 | 147 615.8720 | 100.0000 |
| Valeur nette d’inventaire par action en EUR |  | 108.35 | 104.29 | 99.91 |
| Prix d’émission et de rachat par action en EUR 1 |  | 108.35 | 104.29 | 99.91 |
| Catégorie K-X-acc 2 | LU1860987145 |  |  |  |
| Actions en circulation |  | 78 158.3670 | 78 158.3670 | - |
| Valeur nette d’inventaire par action en USD |  | 112.54 | 106.86 | - |
| Prix d’émission et de rachat par action en USD 1 |  | 112.54 | 106.86 | - |
| Catégorie K-X-dist 3 | LU1917356179 |  |  |  |
| Actions en circulation |  | 100 000.0000 | - | - |
| Valeur nette d’inventaire par action en USD |  | 102.48 | - | - |
| Prix d’émission et de rachat par action en USD 1 |  | 102.48 | - | - |
| Catégorie P-4%-mdist 4 | LU2051222904 |  |  |  |
| Actions en circulation |  | 32 707.1080 | - | - |
| Valeur nette d’inventaire par action en USD |  | 101.20 | - | - |
| Prix d’émission et de rachat par action en USD 1 |  | 101.20 | - | - |
| Catégorie P-acc | LU0891671751 |  |  |  |
| Actions en circulation |  | 372 894.4140 | 153 812.5500 | 82 301.5820 |
| Valeur nette d’inventaire par action en USD |  | 123.57 | 118.15 | 111.50 |
| Prix d’émission et de rachat par action en USD 1 |  | 123.57 | 118.15 | 111.50 |
| Catégorie (CHF hedged) P-acc | LU0891672213 |  |  |  |
| Actions en circulation |  | 179 130.8870 | 163 166.4700 | 83 901.6530 |
| Valeur nette d’inventaire par action en CHF |  | 109.93 | 106.82 | 104.16 |
| Prix d’émission et de rachat par action en CHF 1 |  | 109.93 | 106.82 | 104.16 |
| Catégorie (EUR hedged) P-acc | LU0891672056 |  |  |  |
| Actions en circulation |  | 1 141 157.2980 | 371 635.5540 | 189 914.0200 |
| Valeur nette d’inventaire par action en EUR |  | 113.30 | 109.85 | 106.77 |
| Prix d’émission et de rachat par action en EUR 1 |  | 113.30 | 109.85 | 106.77 |
| Catégorie P-dist | LU0891671835 |  |  |  |
| Actions en circulation |  | 52 951.8220 | 22 159.6960 | 5 070.3840 |
| Valeur nette d’inventaire par action en USD |  | 111.74 | 107.64 | 103.00 |
| Prix d’émission et de rachat par action en USD 1 |  | 111.74 | 107.64 | 103.00 |
| Catégorie (CHF hedged) P-dist | LU0891672304 |  |  |  |
| Actions en circulation |  | 41 250.0060 | 38 696.4800 | 36 827.5790 |
| Valeur nette d’inventaire par action en CHF |  | 99.32 | 97.24 | 96.19 |
| Prix d’émission et de rachat par action en CHF 1 |  | 99.32 | 97.24 | 96.19 |
| Catégorie (EUR hedged) P-dist | LU0891672130 |  |  |  |
| Actions en circulation |  | 137 904.4800 | 69 975.8500 | 28 108.0600 |
| Valeur nette d’inventaire par action en EUR |  | 102.20 | 99.86 | 98.46 |
| Prix d’émission et de rachat par action en EUR 1 |  | 102.20 | 99.86 | 98.46 |
| Catégorie Q-4%-mdist 5 | LU2038039314 |  |  |  |
| Actions en circulation |  | 68 522.4290 | - | - |
| Valeur nette d’inventaire par action en USD |  | 100.63 | - | - |
| Prix d’émission et de rachat par action en USD 1 |  | 100.63 | - | - |
| Catégorie Q-acc | LU1240774783 |  |  |  |
| Actions en circulation |  | 549 283.3060 | 109 344.1960 | 44 660.4030 |
| Valeur nette d’inventaire par action en USD |  | 121.15 | 115.50 | 108.35 |
| Prix d’émission et de rachat par action en USD 1 |  | 121.15 | 115.50 | 108.35 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2019
|  | ISIN | 30.11.2019 | 31.5.2019 | 31.5.2018 |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Catégorie (CHF hedged) Q-acc | LU1240774437 |  |  |  |
| Actions en circulation |  | 393 463.8660 | 223 158.2510 | 229 726.8440 |
| Valeur nette d’inventaire par action en CHF |  | 108.92 | 105.52 | 102.28 |
| Prix d’émission et de rachat par action en CHF 1 |  | 108.92 | 105.52 | 102.28 |
| Catégorie (EUR hedged) Q-acc | LU1240774601 |  |  |  |
| Actions en circulation |  | 1 718 159.9830 | 1 041 535.4190 | 153 253.3920 |
| Valeur nette d’inventaire par action en EUR |  | 110.98 | 107.28 | 103.66 |
| Prix d’émission et de rachat par action en EUR 1 |  | 110.98 | 107.28 | 103.66 |
| Catégorie Q-dist | LU1240774866 |  |  |  |
| Actions en circulation |  | 213 332.5260 | 57 642.8900 | 11 864.7890 |
| Valeur nette d’inventaire par action en USD |  | 112.32 | 108.51 | 103.79 |
| Prix d’émission et de rachat par action en USD 1 |  | 112.32 | 108.51 | 103.79 |
| Catégorie (CHF hedged) Q-dist | LU1240774510 |  |  |  |
| Actions en circulation |  | 146 100.9680 | 109 190.2340 | 61 646.1860 |
| Valeur nette d’inventaire par action en CHF |  | 100.87 | 99.05 | 97.98 |
| Prix d’émission et de rachat par action en CHF 1 |  | 100.87 | 99.05 | 97.98 |
| Catégorie (EUR hedged) Q-dist | LU1109640307 |  |  |  |
| Actions en circulation |  | 78 845.7890 | 51 633.6620 | 30 181.2360 |
| Valeur nette d’inventaire par action en EUR |  | 101.28 | 99.27 | 97.88 |
| Prix d’émission et de rachat par action en EUR 1 |  | 101.28 | 99.27 | 97.88 |
| 1  Voir note 1 2  Première VNI 28.8.2018 3  Première VNI 17.7.2019 4  Première VNI 24.9.2019 5  Première VNI 10.9.2019 |  |  |  |  |
| Structure du portefeuille-titres |  |  |  |  |

Répartition géographique en % de l’actif net	
Etats-Unis	40.21
Nouvelle-Zélande	16.22
Mexique	5.20
Italie	4.02
Chine	2.85
Luxembourg	2.23
Grande-Bretagne	2.17
Irlande	2.13
Afrique du Sud	1.96
Japon	1.93
Slovénie	1.61
Pays-Bas	1.40
France	1.36
Chili	0.70
Arabie saoudite	0.70
Brésil	0.69
Suède	0.66
Roumanie	0.59
Maroc	0.57
Grèce	0.54
Kazakhstan	0.54
Ghana	0.47
Guatemala	0.45
Costa Rica	0.43
Allemagne	0.43
Australie	0.43
Indonésie	0.34
Danemark	0.31
Suisse	0.26
Iles Vierges britanniques	0.21
Espagne	0.20
Turquie	0.19
Mongolie	0.19
Norvège	0.19
Portugal	0.19
Canada	0.18
Nigéria	0.16
Egypte	0.16
Pérou	0.14
Oman	0.14
Argentine	0.14
Sri Lanka	0.14
Colombie	0.11
Uruguay	0.10
Pologne	0.10
Ukraine	0.10
Belgique	0.09
Kenya	0.08
Inde	0.08
Equateur	0.07
Hong Kong	0.07
Hongrie	0.07
Jersey	0.04
Bermudes	0.03
Iles Caïmans	0.03
Venezuela	0.01
Répartition économique en % de l’actif net	
Gouvernements nationaux et centraux	63.56
Banques & instituts de crédit	6.53
Emetteurs d’obligations sécurisées (Pfandbriefe) et
sociétés de refinancement	6.52
Etablissements financiers et sociétés de participation	4.70
Diverses sociétés non classées	2.73
Fonds de placement	2.07
Télécommunications	1.19
Pétrole	1.11
Distribution d’énergie & d’eau	0.72
Produits pharmaceutiques, cosmétiques & médicaux	0.70
Internet, logiciels et services informatiques	0.61
Trafic et transport	0.57
Assurances	0.51
Services divers	0.49
Immobilier	0.44
Equipement informatique et de réseau	0.40
Soins de santé & services sociaux	0.35
Véhicules	0.26
Tabac et boissons alcoolisées	0.21
Industrie de conditionnement	0.18
Alimentation & softs	0.15
Chimie	0.11
Industrie graphique, édition et médias	0.11
Bâtiment et matériaux de construction	0.08
Industrie aéronautique et spatiale	0.08
Métaux précieux et pierres précieuses	0.06
Biotechnologie	0.05
Agriculture et pêche	0.05
Industrie minière, charbon et acier	0.04
Appareils et composants électriques	0.03
Total	94.61
Total	94.61
UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2019

## Etat des actifs nets
Actif	30.11.2019
USD
Portefeuille-titres, cours d’achat	629 597 321.94
Portefeuille-titres, plus-/(moins)-value non réalisée		24 515 354.91	
Total du Portefeuille-titres (note 1)	654 112 676.85
Avoirs en banque, dépôts à vue et à terme	34 678 722.26*
Autres liquidités (marges)	19 990 399.27
Créances sur souscriptions	7 529 309.97
Intérêts à recevoir sur titres	5 527 589.76
Intérêts à recevoir sur liquidités	893.52
Créances sur dividendes	43 751.95
Bénéfice/(perte) non réalisé(e) sur contrats financiers à terme (note 1)	3 563 979.41
Bénéfice/(perte) non réalisé(e) sur contrats de change à terme (note 1)	801 067.18
Bénéfice/(perte) non réalisé(e) sur swaps (note 1)	-5 595 052.09
Crédit en compte courant	-16 790 282.63
Engagements sur achats de titres (note 1)	-11 828 572.01
Engagements sur rachats	-382 351.96
Provisions pour commission de gestion forfaitaire (note 2)	-227 127.50
Provisions pour taxe d’abonnement (note 3)	-53 135.94
Provisions pour autres commissions et frais (note 2)		-15 148.79		 Total des Provisions pour frais			-295 412.23

## Etat des opérations
Revenus	1.6.2019-30.11.2019
USD
Revenus d’intérêts sur liquidités	126 935.74
Intérêts sur titres	6 774 915.98
Dividendes	204 316.56
Revenus d’intérêts sur swaps (note 1)	11 549 303.55
Revenus sur prêts de titres (note 13)	92 168.37
Total des Revenus	18 821 449.82
Charges
Autres revenus (note 4)	73 809.62
Charges d’intérêts sur swaps (note 1)	-12 032 858.18
Commission de gestion forfaitaire (note 2)	-2 244 818.10
Taxe d’abonnement (note 3)	-131 118.44
Frais sur prêts de titres (note 13)	-36 867.35
Autres commissions et frais (note 2)	-28 187.83
Revenus/pertes net(te)s de placements	4 267 952.94
Total des Charges	-14 553 496.88
Charges d’intérêts sur liquidités et crédit en compte courant	-79 646.98
Bénéfices/(pertes) réalisé(e)s (note 1)
Bénéfice/(perte) réalisé(e) sur titres évalués à la valeur de marché hors options	4 581 809.64
Bénéfice/perte réalisé(e) sur contrats financiers à terme	-6 762 011.75
Bénéfice/(perte) réalisé(e) sur contrats de change à terme	-10 285 625.98
Bénéfice/(perte) réalisé(e) sur swaps	-2 426 037.13
Bénéfice/(perte) net(te) réalisé(e) au cours de la période	-6 928 553.32
Total des Bénéfices/(pertes) réalisé(e)s	-11 196 506.26
Bénéfice/(perte) de change réalisé(e)	3 695 358.96
Fluctuations de la plus-/(moins)-value non réalisée (note 1)
Plus-/(moins)-value non réalisée sur titres évalués à la valeur de marché hors options	12 087 891.36
Plus-/(moins)-value non réalisée sur contrats financiers à terme	6 678 684.22
Plus-/(moins)-value non réalisée sur contrats de change à terme	-1 902 671.84
Total des Fluctuations de la plus-/(moins)-value non réalisée	20 747 967.14
Plus-/(moins)-value non réalisée sur swaps	3 884 063.40
Augmentation/(diminution) nette de l’actif net issue de l’activité	13 819 413.82
* Au 30 novembre 2019, des avoirs en banque ont été utilisés à titre de garanties, à hauteur de 380 000.00 USD en faveur de Goldman Sachs, à hauteur de 840 000.00 USD en faveur de Bank of America et à hauteur de 380 000.00 USD en faveur de Citibank.
UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2019
| Fluctuations de l’actif net |  |
| --- | --- |
|  | USD |
|  | 1.6.2019-30.11.2019 |
| Actif net au début de la période | 345 226 235.61 |
| Souscriptions | 388 243 201.70 |
| Rachats | 	-55 234 223.52	 |
| Total des Entrées/(sorties) de capitaux | 333 008 978.18 |
| Dividendes versés | -697 908.36 |
| Revenus/pertes net(te)s de placements | 4 267 952.94 |
| Total des Bénéfices/(pertes) réalisé(e)s | -11 196 506.26 |
| Total des Fluctuations de la plus-/(moins)-value non réalisée | 	20 747 967.14	 |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | 13 819 413.82 |
| Actif net à la fin de la période | 691 356 719.25 |
| Evolution des actions en circulation |  |
|  | 1.6.2019-30.11.2019 |
| Catégorie | (EUR hedged) F-acc |
| Nombre d’actions en circulation au début de la période | 39 312.0000 |
| Nombre d’actions émises | 0.0000 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de la période | 39 312.0000 |
| Catégorie | (EUR hedged) I-B-acc |
| Nombre d’actions en circulation au début de la période | 76 930.6480 |
| Nombre d’actions émises | 0.0000 |
| Nombre d’actions rachetées | -5 042.6470 |
| Nombre d’actions en circulation à la fin de la période | 71 888.0010 |
| Catégorie | I-X-acc |
| Nombre d’actions en circulation au début de la période | 155 684.2320 |
| Nombre d’actions émises | 0.0000 |
| Nombre d’actions rachetées | -7 493.0220 |
| Nombre d’actions en circulation à la fin de la période | 148 191.2100 |
| Catégorie | (CHF hedged) I-X-acc |
| Nombre d’actions en circulation au début de la période | 76 329.2180 |
| Nombre d’actions émises | 144 583.9930 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de la période | 220 913.2110 |
| Catégorie | (EUR hedged) I-X-acc |
| Nombre d’actions en circulation au début de la période | 147 615.8720 |
| Nombre d’actions émises | 0.0000 |
| Nombre d’actions rachetées | -129 520.5950 |
| Nombre d’actions en circulation à la fin de la période | 18 095.2770 |
| Catégorie | K-X-acc |
| Nombre d’actions en circulation au début de la période | 78 158.3670 |
| Nombre d’actions émises | 0.0000 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de la période | 78 158.3670 |
| Catégorie | K-X-dist |
| Nombre d’actions en circulation au début de la période | 0.0000 |
| Nombre d’actions émises | 100 000.0000 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de la période | 100 000.0000 |
| Catégorie | P-4%-mdist |
| Nombre d’actions en circulation au début de la période | 0.0000 |
| Nombre d’actions émises | 32 707.1080 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de la période | 32 707.1080 |
| Catégorie | P-acc |
| Nombre d’actions en circulation au début de la période | 153 812.5500 |
| Nombre d’actions émises | 231 344.5460 |
| Nombre d’actions rachetées | -12 262.6820 |
| Nombre d’actions en circulation à la fin de la période | 372 894.4140 |
| Catégorie | (CHF hedged) P-acc |
| Nombre d’actions en circulation au début de la période | 163 166.4700 |
| Nombre d’actions émises | 27 694.2440 |
| Nombre d’actions rachetées | -11 729.8270 |
| Nombre d’actions en circulation à la fin de la période | 179 130.8870 |
| Catégorie | (EUR hedged) P-acc |
| Nombre d’actions en circulation au début de la période | 371 635.5540 |
| Nombre d’actions émises | 834 483.4870 |
| Nombre d’actions rachetées | -64 961.7430 |
| Nombre d’actions en circulation à la fin de la période | 1 141 157.2980 |
| Catégorie | P-dist |
| Nombre d’actions en circulation au début de la période | 22 159.6960 |
| Nombre d’actions émises | 35 470.7050 |
| Nombre d’actions rachetées | -4 678.5790 |
| Nombre d’actions en circulation à la fin de la période | 52 951.8220 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2019
| Catégorie |  |  | (CHF hedged) P-dist |
| --- | --- | --- | --- |
| Nombre d’actions en circulation au début de la période |  |  | 38 696.4800 |
| Nombre d’actions émises |  |  | 6 153.9640 |
| Nombre d’actions rachetées |  |  | -3 600.4380 |
| Nombre d’actions en circulation à la fin de la période |  |  | 41 250.0060 |
| Catégorie |  |  | (EUR hedged) P-dist |
| Nombre d’actions en circulation au début de la période |  |  | 69 975.8500 |
| Nombre d’actions émises |  |  | 72 499.9250 |
| Nombre d’actions rachetées |  |  | -4 571.2950 |
| Nombre d’actions en circulation à la fin de la période |  |  | 137 904.4800 |
| Catégorie |  |  | Q-4%-mdist |
| Nombre d’actions en circulation au début de la période |  |  | 0.0000 |
| Nombre d’actions émises |  |  | 68 522.4290 |
| Nombre d’actions rachetées |  |  | 0.0000 |
| Nombre d’actions en circulation à la fin de la période |  |  | 68 522.4290 |
| Catégorie |  |  | Q-acc |
| Nombre d’actions en circulation au début de la période |  |  | 109 344.1960 |
| Nombre d’actions émises |  |  | 458 426.9370 |
| Nombre d’actions rachetées |  |  | -18 487.8270 |
| Nombre d’actions en circulation à la fin de la période |  |  | 549 283.3060 |
| Catégorie |  |  | (CHF hedged) Q-acc |
| Nombre d’actions en circulation au début de la période |  |  | 223 158.2510 |
| Nombre d’actions émises |  |  | 178 079.4490 |
| Nombre d’actions rachetées |  |  | -7 773.8340 |
| Nombre d’actions en circulation à la fin de la période |  |  | 393 463.8660 |
| Catégorie |  |  | (EUR hedged) Q-acc |
| Nombre d’actions en circulation au début de la période |  |  | 1 041 535.4190 |
| Nombre d’actions émises |  |  | 847 199.7470 |
| Nombre d’actions rachetées |  |  | -170 575.1830 |
| Nombre d’actions en circulation à la fin de la période |  |  | 1 718 159.9830 |
| Catégorie |  |  | Q-dist |
| Nombre d’actions en circulation au début de la période |  |  | 57 642.8900 |
| Nombre d’actions émises |  |  | 162 243.9260 |
| Nombre d’actions rachetées |  |  | -6 554.2900 |
| Nombre d’actions en circulation à la fin de la période |  |  | 213 332.5260 |
| Catégorie |  |  | (CHF hedged) Q-dist |
| Nombre d’actions en circulation au début de la période |  |  | 109 190.2340 |
| Nombre d’actions émises |  |  | 37 061.7340 |
| Nombre d’actions rachetées |  |  | -151.0000 |
| Nombre d’actions en circulation à la fin de la période |  |  | 146 100.9680 |
| Catégorie |  |  | (EUR hedged) Q-dist |
| Nombre d’actions en circulation au début de la période |  |  | 51 633.6620 |
| Nombre d’actions émises |  |  | 38 052.8980 |
| Nombre d’actions rachetées |  |  | -10 840.7710 |
| Nombre d’actions en circulation à la fin de la période |  |  | 78 845.7890 |
| Distribution annuelle 1 |  |  |  |
| UBS (Lux) Bond SICAV – Global Dynamic (USD)	Date de détachement | Date de versement | Devise | Montant par action |
| P-dist	1.8.2019 | 6.8.2019 | USD | 0.81 |
| (CHF hedged) P-dist	1.8.2019 | 6.8.2019 | CHF | 0.75 |
| (EUR hedged) P-dist	1.8.2019 | 6.8.2019 | EUR | 0.78 |
| Q-dist	1.8.2019 | 6.8.2019 | USD | 1.46 |
| (CHF hedged) Q-dist	1.8.2019 | 6.8.2019 | CHF | 1.35 |
| (EUR hedged) Q-dist	1.8.2019 | 6.8.2019 | EUR | 1.38 |
| Distribution mensuelle 1 |  |  |  |
| UBS (Lux) Bond SICAV – Global Dynamic (USD)	Date de détachement | Date de versement | Devise | Montant par action |
| P-4%-mdist	11.11.2019 | 14.11.2019 | USD | 0.33 |
| Q-4%-mdist	10.10.2019 | 15.10.2019 | USD | 0.22 |
| Q-4%-mdist	11.11.2019 | 14.11.2019 | USD | 0.33 |
| 1  Voir note 5 |  |  |  |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2019

## Etat du portefeuille-titres et autres actifs nets au 30 novembre 2019
| Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
| Titres et instruments du marché monétaire négociés sur une bourse officielle Billets, taux fixe |  |  |  |
| BRL |  |  |  |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF 10.00000% 16-01.01.27 | 10 250.00 | 2 850 265.08 | 0.41 |
| Total BRL |  | 2 850 265.08 | 0.41 |
| EUR |  |  |  |
| EUR	ALTICE FINCO SA-REG-S 9.00000% 13-15.06.23 | 400 000.00 | 456 564.61 | 0.07 |
| EUR	ALTICE FRANCE-REG-S 5.87500% 18-01.02.27 | 2 240 000.00 | 2 747 926.18 | 0.40 |
| EUR	ALTICE LUXEMBOURG SA-REG-S 8.00000% 19-15.05.27 | 1 925 000.00 | 2 352 053.92 | 0.34 |
| EUR	ARD FINANCE SA-REG-S (PIK) 5.00000% 19-30.06.27 | 2 000 000.00 | 2 198 407.98 | 0.32 |
| EUR	ARDAGH PACKAGING FINANCE/MP-REG-S 2.12500% 19-15.08.26 | 400 000.00 | 453 719.90 | 0.07 |
| EUR	BACARDI LTD-REG-S 2.75000% 13-03.07.23 | 200 000.00 | 237 189.11 | 0.03 |
| EUR	CHINA, PEOPLE’S REPUBLIC OF-REG-S 1.00000% 19-12.11.39 | 1 610 000.00 | 1 739 682.28 | 0.25 |
| EUR	DKT FINANCE APS-REG-S 7.00000% 18-17.06.23 | 1 200 000.00 | 1 395 970.99 | 0.20 |
| EUR	DREAM GLOBAL FUNDING 1 SARL-REG-S 1.37500% 17-21.12.21 | 300 000.00 | 334 541.63 | 0.05 |
| EUR	EUROPCAR MOBILITY GROUP-REG-S 4.00000% 19-30.04.26 | 900 000.00 | 954 650.93 | 0.14 |
| EUR	FINANCIAL & RISK US HOLDINGS INC-REG-S 6.87500% 18-15.11.26 | 700 000.00 | 872 118.01 | 0.13 |
| EUR	FISERV INC 1.62500% 19-01.07.30 | 495 000.00 | 571 662.82 | 0.08 |
| EUR	FORD MOTOR CREDIT CO LLC 1.51400% 19-17.02.23 | 235 000.00 | 258 003.56 | 0.04 |
| EUR	INFOR US INC 5.75000% 16-15.05.22 | 100 000.00 | 111 583.12 | 0.02 |
| EUR	INTERNATIONAL GAME TECHNOLOGY PLC-REG-S 2.37500% 19-15.04.28 | 520 000.00 | 573 982.69 | 0.08 |
| EUR	LOXAM SAS-REG-S 2.87500% 19-15.04.26 | 205 000.00 | 227 163.16 | 0.03 |
| EUR	LOXAM SAS-REG-S 3.75000% 19-15.07.26 | 700 000.00 | 796 209.51 | 0.11 |
| EUR	SOFTBANK GROUP CORP-REG-S 4.50000% 18-20.04.25 | 1 400 000.00 | 1 675 605.78 | 0.24 |
| EUR	UNILABS SUBHOLDING AB-REG-S 5.75000% 17-15.05.25 | 1 750 000.00 | 2 001 908.13 | 0.29 |
| Total EUR |  | 19 958 944.31 | 2.89 |
| USD |  |  |  |
| USD	ABBOTT LABORATORIES 4.90000% 16-30.11.46 | 120 000.00 | 159 373.30 | 0.02 |
| USD	ABBVIE INC 4.25000% 18-14.11.28 | 85 000.00 | 93 665.94 | 0.01 |
| USD	ABBVIE INC 4.87500% 18-14.11.48 | 180 000.00 | 205 765.63 | 0.03 |
| USD	AECOM TECHNOLOGY CORP 5.87500% 15-15.10.24 | 450 000.00 | 491 625.00 | 0.07 |
| USD	ALIBABA GROUP HOLDING LTD 3.40000% 17-06.12.27 | 400 000.00 | 415 632.00 | 0.06 |
| USD	ALLERGAN FUNDING SCS 4.75000% 15-15.03.45 | 100 000.00 | 109 921.96 | 0.02 |
| USD	ALTICE FINANCING SA-144A 6.62500% 15-15.02.23 | 200 000.00 | 204 500.00 | 0.03 |
| USD	ALTRIA GROUP INC 4.40000% 19-14.02.26 | 105 000.00 | 113 552.70 | 0.02 |
| USD	ALTRIA GROUP INC 4.80000% 19-14.02.29 | 300 000.00 | 331 671.69 | 0.05 |
| USD	AMERICAN EXPRESS CO 3.40000% 18-27.02.23 | 750 000.00 | 778 996.87 | 0.11 |
| USD	ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.15000% 19-23.01.25 | 80 000.00 | 87 100.93 | 0.01 |
| USD	ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.75000% 19-23.01.29 | 125 000.00 | 145 062.18 | 0.02 |
| USD	ANTHEM INC 3.65000% 17-01.12.27 | 150 000.00 | 158 410.23 | 0.02 |
| USD	APPLE INC 1.80000% 19-11.09.24 | 165 000.00 | 163 704.06 | 0.02 |
| USD	APT PIPELINES LTD-REG-S 4.20000% 15-23.03.25 | 1 000 000.00 | 1 063 860.00 | 0.15 |
| USD	ARGENTINA, REPUBLIC OF 6.87500% 18-11.01.48 | 1 000 000.00 | 400 312.50 | 0.06 |
| USD	AT&T INC 4.35000% 19-01.03.29 | 285 000.00 | 314 419.72 | 0.05 |
| USD	AT&T INC 4.75000% 15-15.05.46 | 200 000.00 | 223 592.36 | 0.03 |
| USD	CANADIAN NATURAL RESOURCES LTD 3.85000% 17-01.06.27 | 400 000.00 | 423 567.20 | 0.06 |
| USD	CF INDUSTRIES INC 5.15000% 14-15.03.34 | 300 000.00 | 327 000.00 | 0.05 |
| USD	CHILE, REPUBLIC OF 3.12500% 14-27.03.25 | 4 000 000.00 | 4 166 000.00 | 0.60 |
| USD	CHILE, REPUBLIC OF 3.86000% 17-21.06.47 | 600 000.00 | 670 312.50 | 0.10 |
| USD	CIGNA CORP 3.40000% 19-17.09.21 | 90 000.00 | 91 980.41 | 0.01 |
| USD	CIGNA CORP 4.37500% 19-15.10.28 | 170 000.00 | 188 580.76 | 0.03 |
| USD	CIGNA CORP 4.90000% 19-15.12.48 | 50 000.00 | 59 227.90 | 0.01 |
| USD	CITIGROUP INC 4.65000% 18-23.07.48 | 100 000.00 | 124 153.80 | 0.02 |
| USD	CNPC GENERAL CAPITAL LTD-REG-S 3.40000% 13-16.04.23 | 700 000.00 | 719 250.00 | 0.10 |
| USD	COMCAST CORP 3.95000% 18-15.10.25 | 95 000.00 | 103 590.35 | 0.02 |
| USD	COMCAST CORP 4.15000% 18-15.10.28 | 60 000.00 | 67 640.96 | 0.01 |
| USD	COMCAST CORP 4.70000% 18-15.10.48 | 200 000.00 | 248 334.94 | 0.04 |
| USD	COMCAST CORP 4.95000% 18-15.10.58 | 50 000.00 | 65 306.54 | 0.01 |
| USD	CONAGRA BRANDS INC 3.80000% 18-22.10.21 | 50 000.00 | 51 479.22 | 0.01 |
| USD	CONAGRA BRANDS INC 5.40000% 18-01.11.48 | 185 000.00 | 220 218.14 | 0.03 |
| USD	CONAGRA INC 4.60000% 18-01.11.25 | 80 000.00 | 88 014.12 | 0.01 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 4.25000% 12-26.01.23 | 2 000 000.00 | 1 988 750.00 | 0.29 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 7.15800% 15-12.03.45 | 1 000 000.00 | 1 008 125.00 | 0.15 |
| USD	CREDIT SUISSE GROUP AG-144A 4.28200% 17-09.01.28 | 250 000.00 | 271 846.72 | 0.04 |
| USD	CVS HEALTH CORP 2.62500% 19-15.08.24 | 560 000.00 | 564 503.35 | 0.08 |
| USD	CVS HEALTH CORP 4.30000% 18-25.03.28 | 175 000.00 | 190 758.43 | 0.03 |
| USD	DEUTSCHE BANK AG/NEW YORK NY 3.15000% 18-22.01.21 | 150 000.00 | 150 201.27 | 0.02 |
| USD	DISCOVERY COMMUNICATIONS LLC 5.30000% 19-15.05.49 | 250 000.00 | 288 605.60 | 0.04 |
| USD	ECUADOR, REPUBLIC OF-REG-S 8.87500% 17-23.10.27 | 620 000.00 | 497 550.00 | 0.07 |
| USD	ENABLE MIDSTREAM PARTNERS LP 3.90000% 15-15.05.24 | 400 000.00 | 403 124.88 | 0.06 |
| USD	ENERGY TRANSFER OPERATING LP 4.50000% 19-15.04.24 | 340 000.00 | 359 471.66 | 0.05 |
| USD	FISERV INC 3.20000% 19-01.07.26 | 320 000.00 | 331 456.48 | 0.05 |
| USD	GE CAPITAL INTL FUNDING CO 4.41800% 16-15.11.35 | 400 000.00 | 430 557.36 | 0.06 |
| USD	GENERAL ELECTRIC CO 3.15000% 12-07.09.22 | 260 000.00 | 265 115.50 | 0.04 |
| USD	GHANA GOVT INTNL BOND-REG-S 7.87500% 13-07.08.23 | 3 000 000.00 | 3 250 312.50 | 0.47 |
| USD	GILEAD SCIENCES INC 4.75000% 15-01.03.46 | 300 000.00 | 362 114.64 | 0.05 |
| USD	GUATEMALA, REPUBLIC OF-REG-S 5.75000% 12-06.06.22 | 500 000.00 | 532 500.00 | 0.08 |
| USD	HUMANA INC 3.12500% 19-15.08.29 | 1 015 000.00 | 1 030 492.36 | 0.15 |
| USD	INDONESIA, REPUBLIC OF-REG-S 5.25000% 12-17.01.42 | 1 200 000.00 | 1 434 375.00 | 0.21 |
| USD	INTERNATIONAL BUSINESS MACHINES CORP 2.85000% 19-13.05.22 | 1 310 000.00 | 1 335 055.98 | 0.19 |
| USD	INTERNATIONAL BUSINESS MACHINES CORP 3.30000% 19-15.05.26 | 750 000.00 | 789 241.28 | 0.11 |
| USD	JPMORGAN CHASE & CO 3.20000% 13-25.01.23 | 500 000.00 | 516 966.95 | 0.08 |
| USD	KENYA, REPUBLIC OF-REG-S 8.25000% 18-28.02.48 | 550 000.00 | 563 234.38 | 0.08 |
| USD	KINDER MORGAN INC 3.15000% 17-15.01.23 | 290 000.00 | 296 197.18 | 0.04 |
| USD	MARATHON OIL CORP 3.85000% 15-01.06.25 | 270 000.00 | 282 846.79 | 0.04 |
| USD	MEXICHEM SAB DE CV-REG-S 4.00000% 17-04.10.27 | 200 000.00 | 201 375.00 | 0.03 |
| USD	MEXICHEM SAB DE CV-REG-S 5.50000% 17-15.01.48 | 200 000.00 | 198 687.50 | 0.03 |
| USD	MPLX LP 5.20000% 17-01.03.47 | 250 000.00 | 263 665.47 | 0.04 |
| USD	NEPTUNE ENERGY BONDCO PLC-REG-S 6.62500% 18-15.05.25 | 1 250 000.00 | 1 245 375.00 | 0.18 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2019
|  | Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| USD | NEXEN INC 6.40000% 07-15.05.37 | 575 000.00 | 802 125.00 | 0.12 |
| USD | NIGERIA, FEDERAL REPUBLIC OF-REG-S 6.75000% 11-28.01.21 | 550 000.00 | 569 250.00 | 0.08 |
| USD | NIGERIA, FEDERAL REPUBLIC OF-REG-S 9.24800% 18-21.01.49 | 500 000.00 | 541 406.25 | 0.08 |
| USD | OCP SA-REG-S 5.62500% 14-25.04.24 | 300 000.00 | 328 800.00 | 0.05 |
| USD | OMAN GOVT INTERNATIONAL BOND-REG-S 6.75000% 18-17.01.48 | 1 040 000.00 | 985 725.00 | 0.14 |
| USD | PAYPAL HOLDINGS INC 2.65000% 19-01.10.26 | 295 000.00 | 295 762.37 | 0.04 |
| USD | PERTAMINA PT-REG-S 4.875000% 12-03.05.22 | 500 000.00 | 527 500.00 | 0.08 |
| USD | PETROLEOS MEXICANOS 6.50000% 18-13.03.27 | 230 000.00 | 240 692.13 | 0.04 |
| USD | REYNOLDS AMERICAN INC 5.70000% 15-15.08.35 | 400 000.00 | 459 127.84 | 0.07 |
| USD | ROYAL BANK OF SCOTLAND GROUP PLC-SUB 6.10000% 13-10.06.23 | 400 000.00 | 438 226.52 | 0.06 |
| USD | ROYAL BANK OF SCOTLAND GROUP PLC 3.87500% 16-12.09.23 | 200 000.00 | 208 057.52 | 0.03 |
| USD | SINOPEC CAPITAL 2013 LTD-REG-S 3.12500% 13-24.04.23 | 700 000.00 | 712 250.00 | 0.10 |
| USD | SOUTH AFRICA, REPUBLIC OF 4.87500% 16-14.04.26 | 500 000.00 | 516 406.25 | 0.07 |
| USD | SRI LANKA, DEMOCRATIC REP OF-REG-S 6.25000% 10-04.10.20 | 510 000.00 | 512 550.00 | 0.07 |
| USD | SRI LANKA, DEMOCRATIC REP OF-REG-S 6.20000% 17-11.05.27 | 500 000.00 | 451 093.76 | 0.07 |
| USD | SUMITOMO MITSUI FIN GP INC-SUB 3.20200% 19-17.09.29 | 320 000.00 | 324 499.20 | 0.05 |
| USD | SUNCORP-METWAY LTD-REG-S 2.80000% 17-04.05.22 | 150 000.00 | 151 504.50 | 0.02 |
| USD | SUNTRUST BANKS INC 2.70000% 16-27.01.22 | 350 000.00 | 353 850.11 | 0.05 |
| USD | SYNGENTA FINANCE NV-144A 3.69800% 18-24.04.20 | 200 000.00 | 200 607.74 | 0.03 |
| USD | SYNGENTA FINANCE NV-144A 3.93300% 18-23.04.21 | 200 000.00 | 203 519.36 | 0.03 |
| USD | TELEFONICA EMISIONES SA 5.52000% 19-01.03.49 | 440 000.00 | 543 022.30 | 0.08 |
| USD | TURKEY, REPUBLIC OF 6.87500% 06-17.03.36 | 680 000.00 | 682 125.00 | 0.10 |
| USD | UKRAINE, GOVERNMENT OF-REG-S 7.37500% 17-25.09.32 | 650 000.00 | 661 375.00 | 0.10 |
| USD | UNITED TECHNOLOGIES CORP 4.62500% 18-16.11.48 | 200 000.00 | 250 517.58 | 0.04 |
| USD | UNITED TECHNOLOGIES CORP 3.35000% 18-16.08.21 | 50 000.00 | 51 134.71 | 0.01 |
| USD | UNITED TECHNOLOGIES CORP 3.95000% 18-16.08.25 | 215 000.00 | 233 728.39 | 0.03 |
| USD | URUGUAY, REPUBLIC OF 4.12500% 12-20.11.45 | 660 000.00 | 703 518.75 | 0.10 |
| USD | VALERO ENERGY CORP 4.90000% 15-15.03.45 | 200 000.00 | 227 224.28 | 0.03 |
| USD | VEB FINANCE PLC-REG-S LPN 5.94200% 13-21.11.23 | 500 000.00 | 551 250.00 | 0.08 |
| USD | VERIZON COMMUNICATIONS INC 3.37600% 18-15.02.25 | 440 000.00 | 464 784.76 | 0.07 |
| USD | VTB BK OJSC VIA VTB CPTL SA-REG-S LPN 6.55100% 10-13.10.20 | 500 000.00 | 516 500.00 | 0.07 |
| USD | WALT DISNEY CO 1.75000% 19-30.08.24 | 990 000.00 | 978 924.87 | 0.14 |
| USD | WELLS FARGO & CO 3.06900% 17-24.01.23 | 150 000.00 | 152 846.64 | 0.02 |
| USD | YPF SA-REG-S 6.95000% 17-21.07.27 | 400 000.00 | 304 750.00 | 0.04 |
| USD | YPF SA-REG-S 7.00000% 17-15.12.47 | 230 000.00 | 157 334.38 | 0.02 |
| Total USD |  |  | 47 430 320.40 | 6.86 |
| Total des Billets, taux fixe |  | 70 239 529.79 | 10.16 |
| Billets, taux variable |  |  |  |
| EUR |  |  |  |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S-SUB 3.250%/VAR 19-PRP | 100 000.00 | 120 192.22 | 0.02 |
| EUR	ING GROUP NV-SUB VAR 03-PRP | 300 000.00 | 277 789.05 | 0.04 |
| EUR	ITALY, REPUBLIC OF-144A-REG-S 2.350%/CPI LINKED 14-15.09.24 | 3 500 000.00 | 4 536 913.45 | 0.66 |
| EUR	NOVO BANCO SA-REG-S-SUB 8.500%/VAR 18-06.07.28 | 1 100 000.00 | 1 284 523.04 | 0.18 |
| Total EUR |  | 6 219 417.76 | 0.90 |
| GBP |  |  |  |
| GBP	M&G PLC-REG-S-SUB 3.875%/VAR 19-20.07.49 | 100 000.00 | 132 099.96 | 0.02 |
| Total GBP |  | 132 099.96 | 0.02 |
| USD |  |  |  |
| USD	AEGON NV-SUB VAR/10YR CMS+10BP 04-31.12.PRP | 500 000.00 | 402 911.00 | 0.06 |
| USD	CORP FINANCIERA DE DESARROL-REG-S-SUB 5.250%/VAR 14-15.07.29 | 250 000.00 | 267 812.50 | 0.04 |
| USD	CREDIT SUISSE GROUP AG-REG-S-SUB 6.250%/VAR 14-PRP | 480 000.00 | 517 987.20 | 0.07 |
| USD	ELECTRICITE DE FRANCE SA-REG-S-SUB 5.625%/VAR 14-PRP | 450 000.00 | 472 500.00 | 0.07 |
| USD	STANDARD CHARTERED PLC-REG-S-SUB 7.750%/VAR 17-PRP | 400 000.00 | 439 000.00 | 0.06 |
| Total USD |  | 2 100 210.70 | 0.30 |
| Total des Billets, taux variable |  | 8 451 728.42 | 1.22 |
| Medium-Term Notes, taux fixe |  |  |  |
| EUR |  |  |  |
| EUR	A.P. MOELLER-MAERSK-REG-S 1.75000% 18-16.03.26 | 100 000.00 | 114 436.65 | 0.02 |
| EUR	ABERTIS INFRAESTRUCTURAS SA-REG-S 1.50000% 19-27.06.24 | 100 000.00 | 114 086.90 | 0.02 |
| EUR	ABERTIS INFRAESTRUCTURAS SA-REG-S 2.37500% 19-27.09.27 | 100 000.00 | 119 042.87 | 0.02 |
| EUR	AKELIUS RESIDENTIAL PROPERTY AB-REG-S 1.75000% 17-07.02.25 | 100 000.00 | 115 550.71 | 0.02 |
| EUR	AROUNDTOWN SA-REG-S 2.00000% 18-02.11.26 | 100 000.00 | 117 319.06 | 0.02 |
| EUR	BANCO BPM SPA 2.50000% 19-21.06.24 | 890 000.00 | 1 014 152.69 | 0.15 |
| EUR	BANK OF IRELAND GROUP PLC-REG-S 1.37500% 18-29.08.23 | 180 000.00 | 203 550.77 | 0.03 |
| EUR	BNP PARIBAS-REG-S 1.25000% 18-19.03.25 | 200 000.00 | 230 010.30 | 0.03 |
| EUR	BNP PARIBAS-REG-S 1.00000% 18-17.04.24 | 400 000.00 | 454 452.02 | 0.07 |
| EUR	BPCE SA-REG-S 1.37500% 18-23.03.26 | 100 000.00 | 116 179.42 | 0.02 |
| EUR	CANAL DE ISABEL II GESTION SA-REG-S 1.68000% 15-26.02.25 | 200 000.00 | 233 122.85 | 0.03 |
| EUR	CNH INDUSTRIAL FINANCE EUROPE SA-REG-S 1.87500% 18-19.01.26 | 235 000.00 | 272 773.85 | 0.04 |
| EUR	COMMERZBANK AG-REG-S 0.50000% 18-28.08.23 | 295 000.00 | 328 872.26 | 0.05 |
| EUR	COMMERZBANK AG-REG-S 0.62500% 19-28.08.24 | 255 000.00 | 285 434.43 | 0.04 |
| EUR	CPI PROPERTY GROUP SA-REG-S 1.45000% 18-14.04.22 | 400 000.00 | 452 066.00 | 0.06 |
| EUR	CREDIT AGRICOLE SA LONDON-REG-S 1.37500% 18-13.03.25 | 200 000.00 | 231 472.78 | 0.03 |
| EUR	DANSKE BANK AS-REG-S 1.37500% 19-24.05.22 | 255 000.00 | 288 462.24 | 0.04 |
| EUR	DEUTSCHE BANK AG-REG-S 1.12500% 18-30.08.23 | 340 000.00 | 385 035.86 | 0.06 |
| EUR	DEUTSCHE BANK AG-REG-S 1.62500% 19-12.02.21 | 200 000.00 | 222 846.40 | 0.03 |
| EUR	DNB BANK ASA-REG-S 0.05000% 19-14.11.23 | 1 200 000.00 | 1 319 494.65 | 0.19 |
| EUR	EDP FINANCE BV-REG-S 2.00000% 15-22.04.25 | 200 000.00 | 238 661.30 | 0.03 |
| EUR	FORD MOTOR CREDIT CO LLC 3.02100% 19-06.03.24 | 110 000.00 | 126 765.50 | 0.02 |
| EUR	GAS NETWORKS IRELAND-REG-S 0.12500% 19-04.12.24 | 505 000.00 | 555 448.81 | 0.08 |
| EUR	GLOBALWORTH REAL ESTATE INVEST-REG-S 3.00000% 18-29.03.25 | 200 000.00 | 238 092.69 | 0.03 |
| EUR	GOLDMAN SACHS GROUP INC-REG-S 2.00000% 15-27.07.23 | 500 000.00 | 586 561.15 | 0.08 |
| EUR	GOLDMAN SACHS GROUP INC-REG-S 2.00000% 18-01.11.28 | 270 000.00 | 326 877.98 | 0.05 |
| EUR	HEIDELBERGCEMENT FIN LUX SA-REG-S 1.12500% 19-01.12.27 | 140 000.00 | 156 786.90 | 0.02 |
| EUR	ING GROEP NV-REG-S 2.00000% 18-20.09.28 | 200 000.00 | 245 963.58 | 0.03 |
| EUR	KBC GROUP NV-REG-S 1.12500% 19-25.01.24 | 200 000.00 | 228 631.61 | 0.03 |
| EUR	ORANO SA 4.87500% 09-23.09.24 | 200 000.00 | 255 251.90 | 0.04 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2019
|  | Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  |  | Nominal | Bénéfice/(perte) non | de |
|  |  |  | réalisé(e) sur futures/ | l’actif |
|  |  |  | Contrats de | net |
|  |  |  | change à terme/ |  |
|  |  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| EUR | ORANO SA-REG-S 3.37500% 19-23.04.26 | 1 000 000.00 | 1 179 437.99 | 0.17 |
| EUR | REDEXIS GAS FINANCE BV-REG-S 1.87500% 15-27.04.27 | 300 000.00 | 340 883.34 | 0.05 |
| EUR | REN FINANCE B V-REG-S 2.50000% 15-12.02.25 | 600 000.00 | 730 001.03 | 0.11 |
| EUR | ROMANIA-REG-S 4.62500% 19-03.04.49 | 2 000 000.00 | 2 735 826.25 | 0.40 |
| EUR | SANOFI-REG-S 1.37500% 18-21.03.30 | 100 000.00 | 122 228.06 | 0.02 |
| EUR | SCHAEFFLER AG-REG-S 2.87500% 19-26.03.27 | 80 000.00 | 95 388.13 | 0.01 |
| EUR | TELECOM ITALIA FINANCE SA 7.75000% 03-24.01.33 | 400 000.00 | 650 410.51 | 0.09 |
| EUR | VODAFONE GROUP PLC-REG-S 2.50000% 19-24.05.39 | 230 000.00 | 277 945.94 | 0.04 |
| EUR | VOLKSWAGEN FINANCIAL SERVICES AG-REG-S 1.50000% 19-01.10.24 | 230 000.00 | 262 326.84 | 0.04 |
| EUR | VOLKSWAGEN LEASING GMBH-REG-S 1.62500% 18-15.08.25 | 140 000.00 | 160 696.94 | 0.02 |
| EUR | VONOVIA FINANCE BV-REG-S 1.62500% 19-07.10.39 | 300 000.00 | 324 368.82 | 0.05 |
| Total EUR |  |  | 16 456 917.98 | 2.38 |
| GBP |  |  |  |  |
| GBP | AA BOND CO LTD-REG-S 2.87500% 16-31.01.22 | 200 000.00 | 251 865.15 | 0.04 |
| GBP | LLOYDS BANKING GROUP PLC 2.25000% 17-16.10.24 | 100 000.00 | 132 670.94 | 0.02 |
| Total GBP |  |  | 384 536.09 | 0.06 |
| NZD |  |  |  |  |
| NZD | BNP PARIBAS-REG-S 5.87500% 13-04.12.19 | 250 000.00 | 160 571.28 | 0.02 |
| Total NZD |  |  | 160 571.28 | 0.02 |
| USD |  |  |  |  |
| USD | ABN AMRO BANK NV-144A 2.65000% 18-19.01.21 | 400 000.00 | 402 509.84 | 0.06 |
| USD | BANK OF AMERICA CORP 3.87500% 15-01.08.25 | 1 000 000.00 | 1 074 900.50 | 0.16 |
| USD | EGYPT, REPUBLIC OF-REG-S 8.70020% 19-01.03.49 | 1 000 000.00 | 1 073 125.00 | 0.15 |
| USD | INDIAN OIL CORP LTD-REG-S 5.75000% 13-01.08.23 | 500 000.00 | 546 406.25 | 0.08 |
| USD | KAZAKHSTAN, REPUBLIC OF-REG-S 5.12500% 15-21.07.25 | 2 000 000.00 | 2 287 000.00 | 0.33 |
| USD | MIRVAC GROUP FINANCE LTD-REG-S 3.62500% 17-18.03.27 | 200 000.00 | 206 043.32 | 0.03 |
| USD | MONGOLIA,GOVERNMENT OF-REG-S 8.75000% 17-09.03.24 | 1 190 000.00 | 1 342 840.63 | 0.19 |
| USD | MORGAN STANLEY-SUB 4.35000% 14-08.09.26 | 1 000 000.00 | 1 094 160.20 | 0.16 |
| USD | PERTAMINA PERSERO PT-REG-S 4.70000% 19-30.07.49 | 390 000.00 | 407 550.00 | 0.06 |
| USD | PHOENIX GROUP HOLDINGS PLC-REG-S-SUB 5.37500% 17-06.07.27 | 600 000.00 | 624 000.00 | 0.09 |
| USD | ROMANIA-REG-S 6.12500% 14-22.01.44 | 700 000.00 | 908 250.00 | 0.13 |
| USD | SAUDI ARABIAN OIL CO-REG-S 2.87500% 19-16.04.24 | 200 000.00 | 202 800.00 | 0.03 |
| USD | SAUDI ARABIAN OIL CO-REG-S 3.50000% 19-16.04.29 | 325 000.00 | 339 421.88 | 0.05 |
| USD | SAUDI GOVERNMENT INTERNATIONAL BD-REG-S 4.00000% 18-17.04.25 | 4 000 000.00 | 4 288 000.00 | 0.62 |
| Total USD |  |  | 14 797 007.62 | 2.14 |
| Total des Medium-Term Notes, taux fixe |  | 31 799 032.97 | 4.60 |
| Medium-Term Notes, taux variable |  |  |  |
| EUR |  |  |  |
| EUR	ALLIED IRISH BANKS PLC-REG-S-SUB 7.375%/VAR 15-PRP | 400 000.00 | 469 958.99 | 0.07 |
| EUR	AXA SA-REG-S-SUB 3.250%/VAR 18-28.05.49 | 120 000.00 | 150 719.77 | 0.02 |
| EUR	CAIXABANK SA-REG-S-SUB 2.750%/VAR 17-14.07.28 | 300 000.00 | 348 615.50 | 0.05 |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S-SUB 2.625%/VAR 18-PRP | 100 000.00 | 117 013.43 | 0.02 |
| EUR	ROYAL BK OF SCOTLAND GP PLC-REG-S 2.000%/VAR 18-04.03.25 | 600 000.00 | 694 644.62 | 0.10 |
| EUR	SVENSKA HANDELSBANKEN AB-REG-S-SUB 1.625%/VAR 18-05.03.29 | 340 000.00 | 391 636.07 | 0.06 |
| EUR	TOTAL SA-REG-S-SUB 2.625%/VAR 15-PRP | 260 000.00 | 307 919.27 | 0.04 |
| EUR	UBS AG-REG-S-SUB 4.750%/VAR 14-12.02.26 | 200 000.00 | 231 270.35 | 0.03 |
| Total EUR |  | 2 711 778.00 | 0.39 |
| GBP |  |  |  |
| GBP	ELECTRICITE DE FRANCE SA-REG-S-SUB 6.000%/VAR 13-PRP | 100 000.00 | 142 349.68 | 0.02 |
| Total GBP |  | 142 349.68 | 0.02 |
| Total des Medium-Term Notes, taux variable |  | 2 854 127.68 | 0.41 |
| Obligations, taux fixe |  |  |  |
| CNY |  |  |  |
| CNY	CHINA DEVELOPMENT BANK CORP 3.80000% 16-25.01.36 | 125 000 000.00 | 17 572 706.89 | 2.54 |
| Total CNY |  | 17 572 706.89 | 2.54 |
| EUR |  |  |  |
| EUR	ABBOTT IRELAND FINCING DAC-REG-S 0.87500% 18-27.09.23 | 165 000.00 | 187 278.80 | 0.03 |
| EUR	ADLER REAL ESTATE AG-REG-S 3.00000% 18-27.04.26 | 600 000.00 | 682 568.50 | 0.10 |
| EUR	ADO PROPERTIES SA-REG-S 1.50000% 17-26.07.24 | 200 000.00 | 218 784.07 | 0.03 |
| EUR	ALLERGAN FUNDING SCS 2.62500% 18-15.11.28 | 100 000.00 | 126 195.44 | 0.02 |
| EUR	ARDAGH PACKAGING FINANCE/MP-REG-S 2.75000% 17-15.03.24 | 700 000.00 | 786 175.85 | 0.11 |
| EUR	BUZZI UNICEM SPA-REG-S 2.12500% 16-28.04.23 | 500 000.00 | 580 873.77 | 0.08 |
| EUR	CDP RETI SPA-REG-S 1.87500% 15-29.05.22 | 520 000.00 | 588 962.03 | 0.09 |
| EUR	DXC TECHNOLOGY CO 1.75000% 18-15.01.26 | 200 000.00 | 218 792.89 | 0.03 |
| EUR	EIRCOM FINANCE DAC-REG-S 3.50000% 19-15.05.26 | 1 110 000.00 | 1 277 761.46 | 0.19 |
| EUR	GLOBALWORTH REAL ESTATE INVEST-REG-S 2.87500% 17-20.06.22 | 180 000.00 | 209 383.74 | 0.03 |
| EUR	GREECE, HELLENIC REPUBLIC OF-144A-REG-S 1.87500% 19-23.07.26 | 3 235 000.00 | 3 757 598.06 | 0.54 |
| EUR	INTRUM JUSTITIA AB-REG-S 2.75000% 17-15.07.22 | 280 000.00 | 156 100.60 | 0.02 |
| EUR	INTRUM JUSTITIA AB-REG-S 3.12500% 17-15.07.24 | 570 000.00 | 635 527.28 | 0.09 |
| EUR	ITALY, REPUBLIC OF-BTP-144A-REG-S 3.250% 14-01.09.46 | 3 000 000.00 | 3 977 536.88 | 0.58 |
| EUR	ITALY, REPUBLIC OF-BTP 1.60000% 16-01.06.26 | 12 000 000.00 | 13 850 605.40 | 2.00 |
| EUR	MATTERHORN TELECOM SA-REG-S 2.62500% 19-15.09.24 | 810 000.00 | 917 025.16 | 0.13 |
| EUR	MATTERHORN TELECOM SA-REG-S 3.12500% 19-15.09.26 | 370 000.00 | 413 265.51 | 0.06 |
| EUR	MPT OPERATING PARTNERSHIP LP/FIN CORP 3.32500% 17-24.03.25 | 470 000.00 | 570 083.58 | 0.08 |
| EUR	MYLAN NV-REG-S 3.12500% 16-22.11.28 | 100 000.00 | 124 932.52 | 0.02 |
| EUR	SIKA CAPITAL BV-REG-S 0.87500% 19-29.04.27 | 680 000.00 | 775 260.11 | 0.11 |
| EUR	SLOVENIA, REPUBLIC OF-REG-S 1.50000% 15-25.03.35 | 3 000 000.00 | 3 768 444.23 | 0.55 |
| EUR	SLOVENIA, REPUBLIC OF-REG-S 3.12500% 15-07.08.45 | 4 500 000.00 | 7 371 687.00 | 1.07 |
| EUR	SMURFIT KAPPA TREASURY ULC-REG-S 1.50000% 19-15.09.27 | 170 000.00 | 188 564.78 | 0.03 |
| EUR	SUNSHINE MID BV-REG-S 6.50000% 18-15.05.26 | 1 100 000.00 | 1 274 837.14 | 0.18 |
| EUR	TAURON POLSKA ENERGIA SA-REG-S 2.37500% 17-05.07.27 | 600 000.00 | 702 775.19 | 0.10 |
| EUR	TLG IMMOBILIEN AG-REG-S 0.37500% 19-23.09.22 | 100 000.00 | 110 696.63 | 0.02 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2019
|  | Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  |  | Nominal | Bénéfice/(perte) non | de |
|  |  |  | réalisé(e) sur futures/ | l’actif |
|  |  |  | Contrats de | net |
|  |  |  | change à terme/ |  |
|  |  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| EUR | UMG GROUPE VYV 1.62500% 19-02.07.29 | 100 000.00 | 115 354.01 | 0.02 |
| EUR | UPC HOLDING BV-REG-S 3.87500% 17-15.06.29 | 900 000.00 | 1 031 944.28 | 0.15 |
| EUR | VERISURE MIDHOLDING AB-REG-S 5.75000% 17-01.12.23 | 1 140 000.00 | 1 293 101.72 | 0.19 |
| EUR | VIVION INVESTMENTS SARL-REG-S 3.00000% 19-08.08.24 | 200 000.00 | 219 417.40 | 0.03 |
| EUR | VOLKSWAGEN INTERNATIONAL FIN NV-REG-S 1.12500% 17-02.10.23 | 200 000.00 | 226 014.04 | 0.03 |
| Total EUR |  |  | 46 357 548.07 | 6.71 |
| GBP |  |  |  |  |
| GBP | BRACKEN MIDCO1 PLC-REG-S (PIK) 8.87500% 18-15.10.23 | 500 000.00 | 633 958.58 | 0.09 |
| GBP | BUPA FINANCE PLC-REG-S-SUB 5.00000% 13-25.04.23 | 100 000.00 | 141 793.47 | 0.02 |
| GBP | DIGNITY FINANCE PLC-REG-S 4.69560% 14-31.12.49 | 151 000.00 | 160 064.47 | 0.02 |
| GBP | MILLER HOMES GROUP HOLDINGS PLC-REG-S 5.50000% 17-15.10.24 | 1 000 000.00 | 1 338 240.10 | 0.20 |
| GBP | ROTHESAY LIFE PLC-REG-S-SUB 3.37500% 19-12.07.26 | 545 000.00 | 701 693.55 | 0.10 |
| GBP | SCOTTISH WIDOWS PLC-REG-S-SUB 5.50000% 13-16.06.23 | 200 000.00 | 287 514.22 | 0.04 |
| GBP | UNITED KINGDOM OF GREAT BRITAIN-REG-S 1.50000% 16-22.07.47 | 3 000 000.00 | 4 149 884.31 | 0.60 |
| GBP | VIRGIN MEDIA SECURED FINANCE PLC-REG-S 4.87500% 15-15.01.27 | 400 000.00 | 527 748.00 | 0.08 |
| Total GBP |  |  | 7 940 896.70 | 1.15 |
| MXN |  |  |  |  |
| MXN | MEXICO, UNITED MEXICAN STATES 7.75000% 11-13.11.42 | 6 471 700.00 | 34 636 725.53 | 5.01 |
| Total MXN |  | 34 636 725.53 | 5.01 |
| NZD |  |  |  |  |
| NZD | NEW ZEALAND 4.50000% 14-15.04.27 | 200 000.00 | 158 037.06 | 0.02 |
| NZD | NEW ZEALAND-REG-S 2.75000% 16-15.04.25 | 200 000.00 | 139 366.76 | 0.02 |
| NZD | NEW ZEALAND-REG-S 5.50000% 11-15.04.23 | 200 000.00 | 147 557.41 | 0.02 |
| Total NZD |  |  | 444 961.23 | 0.06 |
| USD |  |  |  |  |
| USD | AMERICAN AIRLINES PASS THROUGH TRUST 4.37500% 14-01.10.22 | 235 000.00 | 135 449.69 | 0.02 |
| USD | ARGENTINA, REPUBLIC OF (PIK) 8.28000% 05-31.12.33 | 150 000.00 | 103 312.67 | 0.01 |
| USD | BALTIMORE GAS & ELECTRIC CO 3.50000% 16-15.08.46 | 200 000.00 | 207 742.10 | 0.03 |
| USD | BRAZIL, FEDERATIVE REPUBLIC OF 7.12500% 06-20.01.37 | 600 000.00 | 760 500.00 | 0.11 |
| USD | CITIGROUP INC 3.87500% 13-25.10.23 | 600 000.00 | 637 195.80 | 0.09 |
| USD | CNAC HK FINBRIDGE CO LTD-REG-S 3.50000% 17-19.07.22 | 245 000.00 | 249 134.37 | 0.04 |
| USD | CNAC HK FINBRIDGE CO LTD-REG-S 4.62500% 18-14.03.23 | 200 000.00 | 210 500.00 | 0.03 |
| USD | COLOMBIA, REPUBLIC OF 6.12500% 09-18.01.41 | 600 000.00 | 766 687.50 | 0.11 |
| USD | GAZ CAPITAL SA/GAZPROM-REG-S LPN 7.28800% 07-16.08.37 | 630 000.00 | 862 509.38 | 0.12 |
| USD | GOLDMAN SACHS GROUP INC-SUB 5.15000% 15-22.05.45 | 200 000.00 | 245 999.08 | 0.04 |
| USD | HCA INC 5.37500% 15-01.02.25 | 400 000.00 | 442 000.00 | 0.06 |
| USD | KAZAKHSTAN, REPUBLIC OF-REG-S 4.87500% 14-14-10.44 | 1 200 000.00 | 1 456 125.00 | 0.21 |
| USD | MAGYAR EXPORT-IMPORT BANK RT-REG-S 4.00000% 14-30.01.20 | 450 000.00 | 451 125.00 | 0.06 |
| USD | MEXICO CITY AIRPORT TRUST-REG-S 5.50000% 17-31.07.47 | 450 000.00 | 452 390.63 | 0.07 |
| USD | MOROCCO, KINGDOM OF THE-REG-S 5.50000% 12-11.12.42 | 3 000 000.00 | 3 608 437.50 | 0.52 |
| USD | PETROLEOS DE VENEZUE-REG-S *DEFAULTED* 6.00000% 14-16.05.24 | 600 000.00 | 43 500.00 | 0.01 |
| USD | REYNOLDS AMERICAN INC 4.45000% 15-12.06.25 | 150 000.00 | 160 617.99 | 0.02 |
| USD | SFC CAPITAL LTD-REG-S 5.37500% 16-16.06.23 | 500 000.00 | 531 875.00 | 0.08 |
| USD | SOUTH AFRICA, REPUBLIC OF 6.30000% 18-22.06.48 | 500 000.00 | 525 000.00 | 0.08 |
| USD | TURKEY, REPUBLIC OF 6.62500% 14-17.02.45 | 700 000.00 | 665 656.25 | 0.10 |
| Total USD |  |  | 12 515 757.96 | 1.81 |
| ZAR |  |  |  |  |
| ZAR | SOUTH AFRICA, REPUBLIC OF 8.50000% 13-31.01.37 | 210 000 000.00 | 12 526 543.71 | 1.81 |
| Total ZAR |  |  | 12 526 543.71 | 1.81 |
| Total des Obligations, taux fixe |  | 131 995 140.09 | 19.09 |
| Obligations, taux variable |  |  |  |
| EUR |  |  |  |
| EUR	AG INSURANCE SA/NV-REG-S-SUB 3.500%/VAR 15-30.06.47 | 300 000.00 | 372 954.45 | 0.05 |
| EUR	BANK OF IRELAND-REG-S-SUB 7.375%/VAR 15-PRP | 400 000.00 | 456 749.84 | 0.07 |
| EUR	ELM BV-REG-S-SUB 2.600%/VAR 15-PRP | 290 000.00 | 345 327.93 | 0.05 |
| EUR	ENGIE SA-REG-S-SUB 3.250%/VAR 19-PRP | 100 000.00 | 120 578.13 | 0.02 |
| EUR	HOLCIM FINANCE LUXEMBOURG SA-REG-S-SUB 3.000%/VAR 19-PRP | 200 000.00 | 230 443.40 | 0.03 |
| EUR	ITALY, REPUBLIC OF 2.550%/CPI LINKED 09-15.09.41 | 1 500 000.00 | 2 408 732.26 | 0.35 |
| EUR	ORSTED A/S-REG-S-SUB 3.000%/VAR 15-06.11.3015 | 300 000.00 | 337 395.60 | 0.05 |
| EUR	RABOBANK NEDERLAND NV REG-S 5.500%/VAR 15-PRP | 400 000.00 | 452 779.61 | 0.07 |
| EUR	TELEFONICA EUROPE BV-REG-S-SUB 3.875%/VAR 18-PRP | 700 000.00 | 828 818.90 | 0.12 |
| EUR	UNIBAIL-RODAMCO SE-REG-S-SUB 2.125%/VAR 18-PRP | 200 000.00 | 224 634.91 | 0.03 |
| EUR	VONOVIA FINANCE BV-REG-S-SUB 4.000%/VAR 14-PRP | 300 000.00 | 352 964.09 | 0.05 |
| Total EUR |  | 6 131 379.12 | 0.89 |
| GBP |  |  |  |
| GBP	BARCLAYS PLC-REG-S-SUB 7.250%/VAR 17-PRP | 200 000.00 | 280 366.12 | 0.04 |
| GBP	BUPA FINANCE PLC 6.125%/VAR 04-PRP | 75 000.00 | 100 407.94 | 0.02 |
| GBP	CYBG PLC-REG-S-SUB 8.750%/VAR 16-PRP | 1 020 000.00 | 1 392 098.96 | 0.20 |
| GBP	M&G PLC-REG-S-SUB 5.625%/VAR 18-20.10.51 | 150 000.00 | 220 793.35 | 0.03 |
| GBP	RABOBANK NEDERLAND NV-SUB VAR 08-PRP | 100 000.00 | 196 025.01 | 0.03 |
| GBP	SANTANDER UK GROUP HOLD PLC-REG-S-SUB 6.750%/VAR 17-PRP | 200 000.00 | 279 396.00 | 0.04 |
| Total GBP |  | 2 469 087.38 | 0.36 |
| USD |  |  |  |
| USD	CREDIT SUISSE GROUP AG-REG-S-SUB 7.500%/VAR 18-PRP | 730 000.00 | 795 043.00 | 0.11 |
| USD	QBE INSURANCE GROUP LTD-REG-S-SUB 6.750%/VAR 14-02.12.44 | 380 000.00 | 423 654.40 | 0.06 |
| USD	SCOR SE-REG-S-SUB 5.250%/VAR 18-PRP | 200 000.00 | 197 000.00 | 0.03 |
| USD	WESTPAC BANKING CORP-SUB 5.000%/VAR 17-PRP | 200 000.00 | 197 942.00 | 0.03 |
| Total USD |  | 1 613 639.40 | 0.23 |
| Total des Obligations, taux variable |  | 10 214 105.90 | 1.48 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2019
| Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |

Bons du Trésor à moyen terme, taux fixe
| USD |  |
| --- | --- |
| USD | AMERICA, UNITED STATES OF 3.12500% 14-15.08.44 | 2 500 000.00 | 2 940 820.25 | 0.43 |
| USD | AMERICA, UNITED STATES OF 3.00000% 17-15.05.47 | 1 200 000.00 | 1 397 109.36 | 0.20 |
| USD | AMERICA, UNITED STATES OF 2.87500% 19-15.05.49 | 2 000 000.00 | 2 289 531.19 | 0.33 |
| USD | AMERICA, UNITED STATES OF 1.87500% 17-31.07.22 | 675 000.00 | 679 693.34 | 0.10 |
| USD | AMERICA, UNITED STATES OF 2.25000% 17-15.08.27 | 600 000.00 | 622 101.54 | 0.09 |
| USD | AMERICA, UNITED STATES OF 2.87500% 18-30.04.25 | 30 000 000.00 | 31 867 968.00 | 4.61 |
| USD | AMERICA, UNITED STATES OF 2.25000% 17-31.12.23 | 9 000 000.00 | 9 222 890.40 | 1.33 |
| USD | AMERICA, UNITED STATES OF 2.50000% 14-15.05.24 | 6 000 000.00 | 6 223 125.00 | 0.90 |
| Total USD |  |  | 55 243 239.08 | 7.99 |
| Total des Bons du Trésor à moyen terme, taux fixe |  | 55 243 239.08 | 7.99 |
| Bons du Trésor à moyen terme, taux variable |  |  |  |
| BRL |  |  |  |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF 6.000%/IPCA LINKD 10-15.08.50 | 1 050.00 | 1 154 289.34 | 0.17 |
| Total BRL |  | 1 154 289.34 | 0.17 |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 0.500%/CPI LINKED 19-15.04.24 | 6 000 000.00 | 6 177 297.71 | 0.89 |
| USD	AMERICA, UNITED STATES OF 0.625%/CPI LINKED 16-15.01.26 | 20 000 000.00 | 22 166 353.11 | 3.21 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 15-15.07.25 | 22 000 000.00 | 24 132 346.67 | 3.49 |
| USD	AMERICA, UNITED STATES OF 0.750%/CPI LINKED 18-15.07.28 | 5 000 000.00 | 5 367 294.36 | 0.78 |
| Total USD |  | 57 843 291.85 | 8.37 |
| Total des Bons du Trésor à moyen terme, taux variable |  | 58 997 581.19 | 8.54 |
| Total des Titres et instruments du marché monétaire négociés sur une bourse officielle |  | 369 794 485.12 | 53.49 |
| Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  |  |  |
| Titres adossés à des actifs, taux fixe |  |  |  |
| USD |  |  |  |
| USD	DRIVE AUTO RECEIVABLES TRUST-144A 4.18000% 16-15.03.24 | 1 000 000.00 | 1 012 243.68 | 0.14 |
| USD	SOFI CONSUMER LOAN PROGRAM-144A 3.85000% 17-25.05.26 | 1 000 000.00 | 1 021 462.30 | 0.15 |
| Total USD |  | 2 033 705.98 | 0.29 |
| Total des Titres adossés à des actifs, taux fixe |  | 2 033 705.98 | 0.29 |
| Titres adossés à des actifs, taux variable |  |  |  |
| USD |  |  |  |
| USD	SOFI PROFESSIONA LOAN PROGRAM LLC-144A VAR 17-26.03.40 | 850 000.00 | 906 802.61 | 0.13 |
| Total USD |  | 906 802.61 | 0.13 |
| Total des Titres adossés à des actifs, taux variable |  | 906 802.61 | 0.13 |
| Titres adossés à des hypothèques, taux fixe |  |  |  |
| USD |  |  |  |
| USD	BANK BNK-144A 3.00000% 18-01.11.61 | 2 000 000.00 | 1 799 995.40 | 0.26 |
| USD	BENCHMARK MORTGAGE TRUST-SUB 4.51000% 18-01.05.53 | 2 000 000.00 | 2 303 158.20 | 0.33 |
| USD	BENCHMARK MORTGAGE TRUST-SUB 3.97900% 19-01.03.62 | 1 350 000.00 | 1 475 110.31 | 0.21 |
| USD	CITIGROUP COMMERCIAL MORTGAGE 3.36600% 16-01.11.49 | 1 500 000.00 | 1 556 495.70 | 0.23 |
| USD	CITIGROUP COMMERCIAL MORTGAGE TRST-144A 3.00000% 17-01.10.50 | 1 861 000.00 | 1 691 775.37 | 0.25 |
| USD	COMM 2015-CCRE24 MORTGAGE TRUST-SUB 3.46300% 15-01.08.48 | 2 500 000.00 | 2 346 423.75 | 0.34 |
| USD	COMM MORTGAGE TRUST-SUB 4.22800% 18-01.05.51 | 2 500 000.00 | 2 795 308.25 | 0.40 |
| USD	GS MORTGAGE SECURITIES-144A 2.70000% 17-01.11.50 | 1 100 000.00 | 1 001 273.35 | 0.15 |
| USD	HILTON USA TRUST-144A-SUB 5.51909% 16-01.11.35 | 325 000.00 | 325 396.66 | 0.05 |
| USD	JPMDB COMM MRTG SEC TRST-144A-SUB 3.00000% 17-01.10.50 | 1 000 000.00 | 896 406.60 | 0.13 |
| USD	JPMDB COMMERCIAL MORTGAGE TRT 4.42100% 18-01.06.51 | 1 150 000.00 | 1 277 240.25 | 0.19 |
| USD	MORGAN STANLEY BOA MERR LYH TRT 15-C24 3.73200% 15-01.05.48 | 800 000.00 | 857 558.72 | 0.12 |
| USD	MORGAN STANLEY CAPITAL INC-SUB 3.33000% 17-01.12.50 | 450 000.00 | 476 582.99 | 0.07 |
| USD	MORGAN STANLEY CAPITAL I TRUST-144A 3.00000% 18-01.12.51 | 2 000 000.00 | 1 750 467.20 | 0.25 |
| USD	WELLS FRGO COM MRTGAGE TRST-144A-SUB 3.00000% 18-01.08.51 | 1 000 000.00 | 916 306.60 | 0.13 |
| Total USD |  | 21 469 499.35 | 3.11 |
| Total des Titres adossés à des hypothèques, taux fixe |  | 21 469 499.35 | 3.11 |
| Titres adossés à des hypothèques, taux variable |  |  |  |
| USD |  |  |  |
| USD	ASHFORD HOSPITALITY TRT-144A 1M LIBOR+310BP 18-15.04.35 | 1 750 000.00 | 1 749 986.35 | 0.25 |
| USD	AVENTURA MALL TRUST-144A FLR 18-01.07.40 | 2 060 000.00 | 2 300 367.60 | 0.33 |
| USD	BANK 2017-BNK9-144A-SUB VAR 17-01.11.54 | 2 000 000.00 | 1 753 048.60 | 0.25 |
| USD	BANK-BNK14-144A-SUB VAR 18-01.09.60 | 400 000.00 | 344 362.32 | 0.05 |
| USD	BANK-BNK7-SUB VAR 17-01.09.60 | 250 000.00 | 262 690.95 | 0.04 |
| USD	BANK-SUB FLR 18-01.02.61 | 895 000.00 | 943 891.17 | 0.14 |
| USD	BBCMS TRUST CBM-144A 1M LIBOR+119.1098BP 18-15.07.37 | 1 650 000.00 | 1 649 973.44 | 0.24 |
| USD	BENCHMARK 2018-B2 MORTGAGE TRUST-SUB FLR 18-01.02.51 | 1 400 000.00 | 1 527 339.66 | 0.22 |
| USD	BENCHMARK MORTGAGE TRUST-144A-SUB FLR 18-01.02.51 | 897 000.00 | 800 748.05 | 0.12 |
| USD	BENCHMARK MORTGAGE TRUST-SUB FLR 18-01.10.51 | 1 500 000.00 | 1 679 091.90 | 0.24 |
| USD	BENCHMARK MORTGAGE TRUST-SUB FLR 18-01.10.51 | 1 950 000.00 | 2 105 629.31 | 0.30 |
| USD	BENCHMARK MORTGAGE TRUST FLR 18-01.01.52 | 2 000 000.00 | 2 261 503.20 | 0.33 |
| USD	BX TRUST-144A 1M LIBOR+80BP 18-15.05.35 | 1 300 000.00 | 1 295 111.09 | 0.19 |
| USD	BX TRUST-144A 1M LIBOR+122BP 18-15.05.35 | 2 000 000.00 | 1 999 973.20 | 0.29 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2019
|  | Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| USD | CAESARS PALACE LAS VEGAS TRUST-144A-SUB VAR 17-01.10.34 | 275 000.00 | 284 939.35 | 0.04 |
| USD | CD MORTGAGE TRUST FLR 17-01.11.50 | 2 220 000.00 | 2 365 100.53 | 0.34 |
| USD | CD MORTGAGE TRUST FLR 17-01.11.50 | 500 000.00 | 525 578.25 | 0.08 |
| USD | CSAIL 2015-C4 COMMERCIAL MORTGAGE TRUST-SUB VAR 15-01.11.48 | 500 000.00 | 531 026.25 | 0.08 |
| USD | CSWF TOP-144A-SUB FLR 18-15.08.35 | 1 625 000.00 | 1 624 476.42 | 0.23 |
| USD | GS MORTGAGE SECURITIES TRUST 2014-SUB VAR 14-01.01.47 | 500 000.00 | 494 593.00 | 0.07 |
| USD | GS MORTGAGE SECURITIES TRUST-144A-SUB VAR 17-01.10.32 | 2 550 000.00 | 2 578 201.47 | 0.37 |
| USD | JP MORGAN CHASE MORTGAGE SECURITIES-144A-SUB FLR 18-01.01.31 | 2 045 000.00 | 2 101 887.81 | 0.30 |
| USD | JP MORGAN CHASE MORTGAGE SECURITIES-144A-SUB FLR 18-01.01.31 | 2 000 000.00 | 2 042 609.60 | 0.30 |
| USD | JPMCC MORTGAGE SECURITIES-144A 1M LIBOR+300BP 18-15.02.35 | 1 500 000.00 | 1 499 978.25 | 0.22 |
| USD | ROSSLYN PORTFOLIO TRUST ROSS 1M LIBOR+300BP 17-15.06.33 | 700 000.00 | 703 463.67 | 0.10 |
| USD | WELLS FARGO COMMERCIAL MORTGAGE FLR 17-01.12.50 | 1 400 000.00 | 1 502 682.44 | 0.22 |
| USD | WORLDWIDE PLAZA TRUST-144A-SUB FLR 17-01.11.36 | 2 675 000.00 | 2 838 363.06 | 0.41 |
| Total USD |  |  | 39 766 616.94 | 5.75 |
| Total des Titres adossés à des hypothèques, taux variable |  | 39 766 616.94 | 5.75 |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	ALTRIA GROUP INC 4.25000% 12-09.08.42 | 150 000.00 | 150 984.03 | 0.02 |
| USD	BNP PARIBAS-144A 4.40000% 18-14.08.28 | 200 000.00 | 222 227.38 | 0.03 |
| USD	BRAZIL MINAS SPE-REG-S 5.33300% 13-15.02.28 | 200 000.00 | 193 320.00 | 0.03 |
| USD	BRISTOL-MYERS SQUIBB CO-144A 2.60000% 19-16.05.22 | 235 000.00 | 239 019.63 | 0.03 |
| USD	BRISTOL-MYERS SQUIBB CO-144A 4.25000% 19-26.10.49 | 1 040 000.00 | 1 235 133.22 | 0.18 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.62500% 18-15.01.24 | 200 000.00 | 205 810.86 | 0.03 |
| USD	CCO HOLDINGS LLC/CAPITAL CORP-144A 5.50000% 16-01.05.26 | 500 000.00 | 527 500.00 | 0.08 |
| USD	CITIGROUP INC-SUB 4.60000% 16-09.03.26 | 200 000.00 | 220 126.10 | 0.03 |
| USD	COMMONWEALTH BANK OF AUSTRALIA-144A 2.05000% 17-18.09.20 | 150 000.00 | 149 934.00 | 0.02 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 5.30000% 19-01.10.29 | 355 000.00 | 392 951.55 | 0.06 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 7.12500% 16-15.06.24 | 250 000.00 | 264 375.00 | 0.04 |
| USD	DIAMONDBACK ENERGY INC 3.25000% 19-01.12.26 | 255 000.00 | 254 951.55 | 0.04 |
| USD	ENERGY TRANSFER PARTNERS LP 6.00000% 18-15.06.48 | 400 000.00 | 456 302.12 | 0.07 |
| USD	ENLINK MIDSTREAM PARTNERS LP 4.40000% 14-01.04.24 | 410 000.00 | 377 200.00 | 0.05 |
| USD	ENTERPRISE PRODUCTS OPERATING LLC 4.85000% 13-15.03.44 | 260 000.00 | 297 391.38 | 0.04 |
| USD	FREEPORT-MCMORAN INC 3.87500% 13-15.03.23 | 400 000.00 | 408 160.00 | 0.06 |
| USD	GENERAL MOTORS FINANCIAL CO 4.35000% 18-09.04.25 | 300 000.00 | 316 051.71 | 0.04 |
| USD	GLENCORE FUNDING LLC-144A 4.87500% 19-12.03.29 | 250 000.00 | 270 797.98 | 0.04 |
| USD	GUATEMALA, REPUBLIC OF-REG-S 4.37500% 17-05.06.27 | 2 500 000.00 | 2 547 656.25 | 0.37 |
| USD	HARTFORD FINANCIAL SERVICES GROUP INC 4.40000% 18-15.03.48 | 155 000.00 | 178 108.84 | 0.03 |
| USD	JPMORGAN CHASE & CO-SUB 3.62500% 16-01.12.27 | 300 000.00 | 316 765.47 | 0.05 |
| USD	KRAFT HEINZ FOODS CO-144A 4.87500% 15-15.02.25 | 103 000.00 | 105 917.50 | 0.01 |
| USD	MICROSOFT CORP 3.50000% 12-15.11.42 | 200 000.00 | 219 993.20 | 0.03 |
| USD	MOTIVA ENTERPRISES LLC-144A 6.85000% 10-15.01.40 | 100 000.00 | 121 226.81 | 0.02 |
| USD	MPLX LP-144A 4.25000% 19-01.12.27 | 400 000.00 | 419 416.08 | 0.06 |
| USD	ONCOR ELECTRIC DELIVERY CO 3.70000% 19-15.11.28 | 1 250 000.00 | 1 372 910.00 | 0.20 |
| USD	ORIGIN ENERGY FINANCE LTD-REG-S 5.45000% 11-14.10.21 | 140 000.00 | 147 261.80 | 0.02 |
| USD	PERU, REPUBLIC OF 5.62500% 10-18.11.50 | 500 000.00 | 729 375.00 | 0.10 |
| USD	PETROBRAS GLOBAL FINANCE BV-144A 5.09300% 19-15.01.30 | 461 000.00 | 481 514.50 | 0.07 |
| USD	PETROLEOS MEXICANOS 6.37500% 14-23.01.45 | 200 000.00 | 191 843.76 | 0.03 |
| USD	PHILLIPS 66 PARTNERS LP 4.68000% 15-15.02.45 | 210 000.00 | 226 784.25 | 0.03 |
| USD	SOUTHWESTERN ELECTRIC POWER 6.20000% 10-15.03.40 | 150 000.00 | 199 912.44 | 0.03 |
| USD	SPRINT CORP 7.87500% 14-15.09.23 | 500 000.00 | 549 687.50 | 0.08 |
| USD	TEACHERS INSURANCE&ANNUITY ASS-144A-SUB 4.90000% 14-15.09.44 | 200 000.00 | 250 714.92 | 0.04 |
| USD	WESTPAC BANKING CORP-SUB 4.42100% 19-24.07.39 | 325 000.00 | 351 672.75 | 0.05 |
| Total USD |  | 14 592 997.58 | 2.11 |
| Total des Billets, taux fixe |  | 14 592 997.58 | 2.11 |
| Billets, taux variable |  |  |  |
| USD |  |  |  |
| USD	JPMORGAN CHASE & CO 2.739%/VAR 19-15.10.30 | 540 000.00 | 538 751.07 | 0.08 |
| USD	LLOYDS BANKING GROUP PLC 3.574%/3M LIBOR+120.5BP 17-07.11.28 | 200 000.00 | 206 618.50 | 0.03 |
| USD	STANDARD CHARTERED PLC-REG-S 3.885%/VAR 18-15.03.24 | 400 000.00 | 413 938.52 | 0.06 |
| USD	WESTPAC BANKING CORP-SUB 4.110%/VAR 19-24.07.34 | 450 000.00 | 465 754.50 | 0.07 |
| Total USD |  | 1 625 062.59 | 0.24 |
| Total des Billets, taux variable |  | 1 625 062.59 | 0.24 |
| Medium-Term Notes, taux variable |  |  |  |
| USD |  |  |  |
| USD	INTESA SANPAOLO SPA-144A-SUB 7.700%/VAR 15-PRP | 800 000.00 | 854 000.00 | 0.12 |
| Total USD |  | 854 000.00 | 0.12 |
| Total des Medium-Term Notes, taux variable |  | 854 000.00 | 0.12 |
| Obligations, taux fixe |  |  |  |
| EUR |  |  |  |
| EUR	PANTHER BF AGGR 2/PANTHER FIN CO-REG-S 4.37500% 19-15.05.26 | 1 460 000.00 | 1 674 187.84 | 0.24 |
| Total EUR |  | 1 674 187.84 | 0.24 |
| USD |  |  |  |
| USD	FIVE CORNERS FUNDING TRUST-144A 4.41900% 13-15.11.23 | 200 000.00 | 216 346.28 | 0.03 |
| USD	NETFLIX INC 4.37500% 16-15.11.26 | 500 000.00 | 506 250.00 | 0.08 |
| USD	PHILLIPS 66 4.65000% 14-15.11.34 | 250 000.00 | 293 637.43 | 0.04 |
| Total USD |  | 1 016 233.71 | 0.15 |
| Total des Obligations, taux fixe |  | 2 690 421.55 | 0.39 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2019
| Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
| Obligations, taux variable |  |  |  |
| JPY |  |  |  |
| JPY	JAPAN 0.100%/CPI LINKED 19-10.03.29 | 1 200 000 000.00 | 11 327 944.05 | 1.64 |
| Total JPY |  | 11 327 944.05 | 1.64 |
| NZD |  |  |  |
| NZD	NEW ZEALAND 2.500%/CPI LINKED 17-20.09.40 | 60 500 000.00 | 56 020 192.06 | 8.10 |
| NZD	NEW ZEALAND 3.000%/CPI LINKED 13-20.09.30 | 37 000 000.00 | 33 101 743.12 | 4.79 |
| NZD	NEW ZEALAND-REG-S 2.500%/CPI LINKED 14-20.09.35 | 25 000 000.00 | 22 340 848.07 | 3.23 |
| Total NZD |  | 111 462 783.25 | 16.12 |
| Total des Obligations, taux variable |  | 122 790 727.30 | 17.76 |
| Bons du Trésor à moyen terme, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 1.75000% 17-30.06.22 | 1 300 000.00 | 1 305 179.59 | 0.19 |
| USD	AMERICA, UNITED STATES OF 2.00000% 13-15.02.23 | 6 200 000.00 | 6 275 077.66 | 0.91 |
| Total USD |  | 7 580 257.25 | 1.10 |
| Total des Bons du Trésor à moyen terme, taux fixe |  | 7 580 257.25 | 1.10 |
| Bons du Trésor à moyen terme, taux variable |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 0.750%/CPI LINKED 15-15.02.45 | 25 500 000.00 | 29 383 808.67 | 4.25 |
| USD	AMERICA, UNITED STATES OF 1.000%/INFLATION LINKD 16-15.02.46 | 21 000 000.00 | 25 497 696.09 | 3.69 |
| Total USD |  | 54 881 504.76 | 7.94 |
| Total des Bons du Trésor à moyen terme, taux variable |  | 54 881 504.76 | 7.94 |
| Total des Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  | 269 191 595.91 | 38.94 |

Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé
Titres adossés à des actifs, taux fixe
| USD |  |
| --- | --- |
| USD | AMERICREDIT AUTOMOBILE RECEIVABLES TRST 2.71000% 16-08.09.22 | 1 000 000.00 | 1 006 237.10 | 0.14 |
| Total USD |  |  | 1 006 237.10 | 0.14 |
| Total des Titres adossés à des actifs, taux fixe |  | 1 006 237.10 | 0.14 |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	NOBLE ENERGY INC 3.85000% 17-15.01.28 | 250 000.00 | 259 768.72 | 0.04 |
| Total USD |  | 259 768.72 | 0.04 |
| Total des Billets, taux fixe |  | 259 768.72 | 0.04 |
| Total des Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé |  | 1 266 005.82 | 0.18 |

OPCVM/Autres OPC au sens de l’article 41 (1) e) de la loi luxembourgeoise du 17 décembre 2010, telle que modifiée
Fonds d’investissement, ouvert
| Irlande |  |
| --- | --- |
| USD | UBS (IRL) SELECT MONEY MARKET FUND-USD-S-DIST | 880.59 | 8 805 940.00 | 1.27 |
| Total Irlande |  | 8 805 940.00 | 1.27 |
| Luxembourg |  |  |  |
| USD	UBS (LUX) BOND SICAV - MULTI INCOME (USD) U-X-ACC | 500.00 | 5 054 650.00 | 0.73 |
| Total Luxembourg |  | 5 054 650.00 | 0.73 |
| Total des Fonds d’investissement, ouvert |  | 13 860 590.00 | 2.00 |
| Total des OPCVM/Autres OPC au sens de l’article 41 (1) e) de la loi luxembourgeoise du 17 décembre 2010, telle que modifiée |  | 13 860 590.00 | 2.00 |
| Total du Portefeuille-titres |  | 654 112 676.85 | 94.61 |

| Instruments dérivés |  |
| --- | --- |
| Instruments dérivés négociés sur une bourse officielle Contrats financiers à terme sur obligations |
|  |  |  |  |
| EUR	EURO BTP ITALY GOVERMENT FUTURE 06.12.19 | -20.00 | 95 705.68 | 0.01 |
| EUR	EURO-BUND FUTURE 06.12.19 | -315.00 | 1 301 101.08 | 0.19 |
| EUR	EURO-BOBL FUTURE 06.12.19 | -190.00 | 439 937.40 | 0.06 |
| EUR	EURO-BUXL FUTURE 06.12.19 | -170.00 | 1 969 459.71 | 0.29 |
| EUR	EURO-OAT FUTURE 06.12.19 | 41.00 | -182 182.60 | -0.03 |
| GBP	LONG GILT FUTURE 27.03.20 | 35.00 | -33 501.65 | 0.00 |
| JPY	JAPAN GOVERNMENT 10Y BOND (OSE) FUTURE 13.12.19 | 37.00 | -134 211.49 | -0.02 |
| AUD	AUSTRALIA 10YR BOND FUTURE 16.12.19 | -10.00 | -9 399.52 | 0.00 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2019
|  | Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| USD | US 10YR ULTRA NOTE FUTURE 20.03.20 | -80.00 | 18 750.00 | 0.00 |
| USD | US 5YR TREASURY NOTE FUTURE 31.03.20 | -950.00 | 37 109.85 | 0.01 |
| USD | US ULTRA LONG BOND (CBT) FUTURE 20.03.20 | 235.00 | 20 195.20 | 0.00 |
| USD | US 2YR TREASURY NOTE FUTURE 31.03.20 | -900.00 | 0.00 | 0.00 |
| USD | US 10YR TREASURY NOTE FUTURE 20.03.20 | -250.00 | 41 015.75 | 0.01 |
| Total des Contrats financiers à terme sur obligations | 3 563 979.41 | 0.52 |
| Total des Instruments dérivés négociés sur une bourse officielle | 3 563 979.41 | 0.52 |
| Instruments dérivés non négociés sur une bourse officielle ou sur un autre marché réglementé |  |  |
| Swaps et Swaps à terme sur taux d’intérêt |  |  |
|  |  |  |
| CAD	LCH/INTEREST RATE SWAP PAYER 3.49750% 19-25.06.24	-5 000 000.00 CAD	LCH/INTEREST RATE SWAP REC CAB3M 19-25.06.24 | -299 206.87 | -0.04 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.29200% 20-03.02.25	-8 000 000.00 USD	LCH/INTEREST RATE SWAP REC 3ML 20-03.02.25 | -273 404.56 | -0.04 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.37200% 15-28.04.45	-2 000 000.00 USD	LCH/INTEREST RATE SWAP REC 3ML 15-28.04.45 | -209 330.87 | -0.03 |
| GBP	LCH/INTEREST RATE SWAP PAYER 2.27700% 15-13.05.45	-1 200 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 15-13.05.45 | -456 006.96 | -0.07 |
| GBP	LCH/INTEREST RATE SWAP PAYER 2.33100% 15-14.05.45	-1 200 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 15-14.05.45 | -475 495.71 | -0.07 |
| JPY	LCH/INTEREST RATE SWAP PAYER 1.51890% 15-05.06.45	-300 000 000.00 JPY	LCH/INTEREST RATE SWAP REC 6ML 15-05.06.45 | -835 401.21 | -0.12 |
| JPY	LCH/INTEREST RATE SWAP PAYER 1.55125% 15-08.06.45	-300 000 000.00 JPY	LCH/INTEREST RATE SWAP REC 6ML 15-08.06.45 | -857 770.66 | -0.12 |
| JPY	LCH/INTEREST RATE SWAP PAYER 1.56450% 15-15.06.45	-200 000 000.00 JPY	LCH/INTEREST RATE SWAP REC 6ML 15-15.06.45 | -577 855.64 | -0.08 |
| GBP	LCH/INTEREST RATE SWAP PAYER 2.36950% 15-12.06.45	-800 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 15-12.06.45 | -333 721.06 | -0.05 |
| JPY	LCH/INTEREST RATE SWAP PAYER 1.45625% 15-23.06.45	-200 000 000.00 JPY	LCH/INTEREST RATE SWAP REC 6ML 15-23.06.45 | -527 171.90 | -0.08 |
| GBP	LCH/INTEREST RATE SWAP PAYER 2.43600% 15-25.06.45	-1 200 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 15-25.06.45 | -525 020.73 | -0.08 |
| JPY	LCH/INTEREST RATE SWAP PAYER 1.52750% 15-06.07.45	-300 000 000.00 JPY	LCH/INTEREST RATE SWAP REC 6ML 15-06.07.45 | -840 060.26 | -0.12 |
| GBP	LCH/INTEREST RATE SWAP PAYER 2.47600% 15-13.07.45	-1 200 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 15-13.07.45 | -539 605.98 | -0.08 |
| GBP	LCH/INTEREST RATE SWAP PAYER 2.46100% 15-15.07.45	-1 600 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 15-15.07.45 | -712 383.86 | -0.10 |
| GBP	LCH/INTEREST RATE SWAP PAYER 2.24350% 15-31.07.45	-2 000 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 15-31.07.45 | -756 396.78 | -0.11 |
| GBP	LCH/INTEREST RATE SWAP PAYER 2.08300% 15-04.08.45	-800 000.00 GBP	LCH/INTEREST RATE SWAP REC 3ML 15-04.08.45 | -286 289.88 | -0.04 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.56500% 15-10.11.45	-2 500 000.00 USD	LCH/INTEREST RATE SWAP REC 3ML 15-10.11.45 | -368 099.58 | -0.05 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.60800% 15-19.11.45	-2 400 000.00 USD	LCH/INTEREST RATE SWAP REC 3ML 15-19.11.45 | -375 307.88 | -0.05 |
| JPY	LCH/INTEREST RATE SWAP PAYER 0.56750% 16-05.04.46	-250 000 000.00 JPY	LCH/INTEREST RATE SWAP REC 6ML 16-05.04.46 | -135 321.70 | -0.02 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.12350% 16-18.04.46	-2 000 000.00 USD	LCH/INTEREST RATE SWAP REC 3ML 16-18.04.46 | -107 714.01 | -0.02 |
| JPY	LCH/INTEREST RATE SWAP PAYER 0.59900% 16-30.04.46	-200 000 000.00 JPY	LCH/INTEREST RATE SWAP REC 6ML 16-30.04.46 | -122 298.17 | -0.02 |
| JPY	LCH/INTEREST RATE SWAP PAYER 0.52500% 16-23.09.46	-210 000 000.00 JPY	LCH/INTEREST RATE SWAP REC 6ML 16-23.09.46 | -92 006.42 | -0.01 |
| GBP	LCH/INTEREST RATE SWAP PAYER 1.19900% 16-11.10.46	-1 000 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 16-11.10.46 | -59 099.47 | -0.01 |
| GBP	LCH/INTEREST RATE SWAP PAYER 1.21650% 16-13.10.46	-1 500 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 16-13.10.46 | -96 876.51 | -0.01 |
| SEK	LCH/INTEREST RATE SWAP PAYER 0.30750% 17-14.02.22	-50 000 000.00 SEK	LCH/INTEREST RATE SWAP REC 3MS 17-14.02.22 | -23 329.58 | 0.00 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.39400% 17-23.03.27	-4 600 000.00 USD	LCH/INTEREST RATE SWAP REC 3ML 17-23.03.27 | -245 249.29 | -0.04 |
| GBP	LCH/INTEREST RATE SWAP PAYER 1.43900% 17-29.03.47	-1 250 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 17-29.03.47 | -172 043.91 | -0.03 |
| GBP	LCH/INTEREST RATE SWAP PAYER 1.40950% 17-31.03.47	-1 250 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 17-31.03.47 | -160 172.74 | -0.02 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.34600% 17-07.04.27	-5 000 000.00 USD	LCH/INTEREST RATE SWAP REC 3ML 17-07.04.27 | -250 818.65 | -0.04 |
| SEK	LCH/INTEREST RATE SWAP PAYER 0.23250% 17-22.05.22	-45 000 000.00 SEK	LCH/INTEREST RATE SWAP REC 3MS 17-22.05.22 | -6 556.25 | 0.00 |
| JPY	LCH/INTEREST RATE SWAP PAYER 0.79150% 17-29.05.47	-160 000 000.00 JPY	LCH/INTEREST RATE SWAP REC 6ML 17-29.05.47 | -172 673.46 | -0.03 |
| JPY	LCH/INTEREST RATE SWAP PAYER 0.87750% 17-28.07.47	-160 000 000.00 JPY	LCH/INTEREST RATE SWAP REC 6ML 17-28.07.47 | -211 707.43 | -0.03 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.57230% 17-01.08.47	-1 800 000.00 USD	LCH/INTEREST RATE SWAP REC 3ML 17-01.08.47 | -293 278.61 | -0.04 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.24850% 17-02.08.27	-4 300 000.00 USD	LCH/INTEREST RATE SWAP REC 3ML 17-02.08.27 | -216 402.81 | -0.03 |
| SEK	LCH/INTEREST RATE SWAP PAYER 0.43500% 17-21.09.22	-40 000 000.00 SEK	LCH/INTEREST RATE SWAP REC 3MS 17-21.09.22 | -27 857.47 | 0.00 |
| GBP	LCH/INTEREST RATE SWAP PAYER 1.72300% 18-21.02.48	-1 200 000.00 GBP	LCH/INTEREST RATE SWAP REC 6ML 18-21.02.48 | -284 748.27 | -0.04 |
| JPY	LCH/INTEREST RATE SWAP PAYER 0.91625% 18-27.02.48	-160 000 000.00 JPY	LCH/INTEREST RATE SWAP REC 6ML 18-27.02.48 | -228 828.41 | -0.03 |
| SEK	LCH/INTEREST RATE SWAP PAYER 0.49750% 18-10.04.23	-75 000 000.00 SEK	LCH/INTEREST RATE SWAP REC 3MS 18-10.04.23 | -92 407.96 | -0.01 |
| SEK	LCH/INTEREST RATE SWAP PAYER 0.52100% 18-02.05.23	-60 000 000.00 SEK	LCH/INTEREST RATE SWAP REC 3MS 18-02.05.23 | -77 051.60 | -0.01 |
| SEK	LCH/INTEREST RATE SWAP PAYER 0.52500% 18-07.05.23	-80 000 000.00 SEK	LCH/INTEREST RATE SWAP REC 3MS 18-07.05.23 | -103 066.50 | -0.02 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2019
|  | Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| SEK | LCH/INTEREST RATE SWAP PAYER 0.67400% 18-19.10.23 | -75 000 000.00 | -130 542.64 | -0.02 |
| SEK | LCH/INTEREST RATE SWAP REC 3MS 18-19.10.23 |  |  |  |
| SEK | LCH/INTEREST RATE SWAP PAYER 0.65750% 18-23.10.23 | -75 000 000.00 | -125 241.46 | -0.02 |
| SEK | LCH/INTEREST RATE SWAP REC 3MS 18-23.10.23 |  |  |  |
| SEK | LCH/INTEREST RATE SWAP PAYER 0.59400% 18-31.10.23 | -75 000 000.00 | -104 279.86 | -0.02 |
| SEK | LCH/INTEREST RATE SWAP REC 3MS 18-31.10.23 |  |  |  |
| JPY | LCH/INTEREST RATE SWAP PAYER 0.71375% 18-27.12.48 | -440 000 000.00 | -410 325.85 | -0.06 |
| JPY | LCH/INTEREST RATE SWAP REC 6ML 18-27.12.48 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAYER 1.55291% 19-01.02.49 | -1 200 000.00 | -223 870.66 | -0.03 |
| GBP | LCH/INTEREST RATE SWAP REC 6ML 19-01.02.49 |  |  |  |
| SEK | LCH/INTEREST RATE SWAP PAYER 0.43750% 19-05.02.24 | -65 000 000.00 | -68 399.99 | -0.01 |
| SEK | LCH/INTEREST RATE SWAP REC 3MS 19-05.02.24 |  |  |  |
| JPY | LCH/INTEREST RATE SWAP PAYER 0.63500% 19-14.03.49 | -390 000 000.00 | -278 545.49 | -0.04 |
| JPY | LCH/INTEREST RATE SWAP REC 6ML 19-14.03.49 |  |  |  |
| CHF | LCH/INTEREST RATE SWAP PAYER -0.49000% 19-09.04.23 | -22 000 000.00 | -68 127.92 | -0.01 |
| CHF | LCH/INTEREST RATE SWAP REC 6ML 19-09.04.23 |  |  |  |
| JPY | LCH/INTEREST RATE SWAP PAYER 0.54275% 19-10.04.49 | -355 000 000.00 | -166 584.94 | -0.02 |
| JPY | LCH/INTEREST RATE SWAP REC 6ML 19-10.04.49 |  |  |  |
| CHF | LCH/INTEREST RATE SWAP PAYER -0.39500% 19-11.04.24 | -15 200 000.00 | -119 512.45 | -0.02 |
| CHF | LCH/INTEREST RATE SWAP REC 6ML 19-11.04.24 |  |  |  |
| SEK | LCH/INTEREST RATE SWAP PAYER 0.38000% 19-12.04.24 | -145 000 000.00 | -99 683.73 | -0.01 |
| SEK | LCH/INTEREST RATE SWAP REC 3MS 19-12.04.24 |  |  |  |
| CHF | LCH/INTEREST RATE SWAP PAYER -0.36000% 19-23.04.24 | -19 000 000.00 | -178 453.40 | -0.03 |
| CHF | LCH/INTEREST RATE SWAP REC 6ML 19-23.04.24 |  |  |  |
| CHF | LCH/INTEREST RATE SWAP PAYER -0.57750% 19-14.06.24 | -14 000 000.00 | -16 202.18 | 0.00 |
| CHF | LCH/INTEREST RATE SWAP REC 6ML 19-14.06.24 |  |  |  |
| SEK | LCH/INTEREST RATE SWAP PAYER 0.13200% 19-14.06.24 | -120 000 000.00 | 86 141.76 | 0.01 |
| SEK | LCH/INTEREST RATE SWAP REC 3MS 19-14.06.24 |  |  |  |
| SEK | LCH/INTEREST RATE SWAP PAYER 0.27400% 19-13.08.29 | -90 000 000.00 | 243 827.67 | 0.04 |
| SEK | LCH/INTEREST RATE SWAP REC 3MS 19-13.08.29 |  |  |  |
| CHF | LCH/INTEREST RATE SWAP PAYER -0.81250% 19-13.08.24 | -20 000 000.00 | 214 125.92 | 0.03 |
| CHF | LCH/INTEREST RATE SWAP REC 6ML 19-13.08.24 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.58300% 24-23.09.29 | -54 000 000.00 | 274 564.07 | 0.04 |
| NZD | LCH/INTEREST RATE SWAP REC 3MF 24-23.09.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.20750% 19-27.09.29 | -35 900 000.00 | 569 018.72 | 0.08 |
| NZD | LCH/INTEREST RATE SWAP REC 3MF 19-27.09.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.47300% 24-14.10.29 | -55 000 000.00 | 469 906.29 | 0.07 |
| NZD | LCH/INTEREST RATE SWAP REC 3MF 24-14.10.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.67500% 24-30.10.29 | -32 000 000.00 | 87 608.53 | 0.01 |
| NZD | LCH/INTEREST RATE SWAP REC 3MF 24-30.10.29 |  |  |  |
| CHF | LCH/INTEREST RATE SWAP PAYER -0.52250% 19-21.11.24 | -25 500 000.00 | -65 407.21 | -0.01 |
| CHF | LCH/INTEREST RATE SWAP REC 6ML 19-21.11.24 |  |  |  |
| INR | CITI/INTEREST RATE SWAP PAYER 4.98000% 19-29.11.24 | -3 885 000 000.00 | 12 028.82 | 0.00 |
| INR | CITI/INTEREST RATE SWAP REC 6MFMBCMP 19-29.11.24 |  |  |  |
| NZD | BC/INTEREST RATE SWAP REC 5.20000% 13-09.12.23 | 1 200 000.00 | 138 862.40 | 0.02 |
| NZD | BC/INTEREST RATE SWAP PAYER 3MFRA 13-09.12.23 |  |  |  |
| NZD | BC/INTEREST RATE SWAP REC 5.14300% 14-17.02.24 | 2 100 000.00 | 238 665.77 | 0.03 |
| NZD | BC/INTEREST RATE SWAP PAYER 3ML 14-17.02.24 |  |  |  |
| CAD | LCH/INTEREST RATE SWAP REC 2.34500% 20-03.02.25 | 10 000 000.00 | 185 023.56 | 0.03 |
| CAD | LCH/INTEREST RATE SWAP PAYER CAB3M 20-03.02.25 |  |  |  |
| CNY | UBS/INTEREST RATE SWAP REC 2.75000% 15-13.08.20 | 75 000 000.00 | 6 933.97 | 0.00 |
| CNY | UBS/INTEREST RATE SWAP PAYER CNRR007 15-13.08.20 |  |  |  |
| CNY | MORGAN STANLEY/INTEREST RATE SWAP REC 2.70000% 15-18.09.20 | 90 000 000.00 | 3 036.25 | 0.00 |
| CNY | MORGAN STANLEY/INTEREST RATE SWAP PAYER CNRR007 15-18.09.20 |  |  |  |
| JPY | LCH/INTEREST RATE SWAP REC 1.85125% 25-27.10.45 | 350 000 000.00 | 875 352.78 | 0.13 |
| JPY | LCH/INTEREST RATE SWAP PAYER 6ML 25-22.10.45 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 2.88000% 16-22.04.21 | 65 000 000.00 | 26 638.14 | 0.00 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 16-22.04.21 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 6.28000% 16-23.07.26 | 95 000 000.00 | -134 811.76 | -0.02 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 16-23.07.26 |  |  |  |
| JPY | LCH/INTEREST RATE SWAP REC 0.32000% 16-21.09.31 | 400 000 000.00 | 96 320.02 | 0.01 |
| JPY | LCH/INTEREST RATE SWAP PAYER 6ML 16-21.09.31 |  |  |  |
| AUD | LCH/INTEREST RATE SWAP REC 2.12600% 17-10.07.20 | 9 000 000.00 | 59 585.36 | 0.01 |
| AUD | LCH/INTEREST RATE SWAP PAYER 3MB 17-10.07.20 |  |  |  |
| ZAR | LCH/INTEREST RATE SWAP REC 8.31500% 18-11.06.28 | 45 000 000.00 | 133 615.83 | 0.02 |
| ZAR | LCH/INTEREST RATE SWAP PAYER 3M 18-11.06.28 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 8.40000% 18-09.10.28 | 115 000 000.00 | 621 132.72 | 0.09 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 18-09.10.28 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 8.74000% 18-17.10.28 | 60 000 000.00 | 396 411.47 | 0.06 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 18-17.10.28 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 8.87500% 18-18.10.28 | 125 000 000.00 | 885 589.36 | 0.13 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 18-18.10.28 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP REC 1.77500% 18-16.11.48 | 2 000 000.00 | 514 562.33 | 0.07 |
| GBP | LCH/INTEREST RATE SWAP PAYER 6ML 18-16.11.48 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 8.68750% 19-22.12.28 | 160 000 000.00 | 1 040 847.12 | 0.15 |
| MXN | CME/INTEREST RATE SWAP PAYER 19-22.12.28 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 2.95500% 19-19.03.24 | 80 000 000.00 | 37 098.66 | 0.01 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 19-19.03.24 |  |  |  |
| ZAR | LCH/INTEREST RATE SWAP REC 8.08000% 19-20.03.29 | 60 000 000.00 | 92 127.16 | 0.01 |
| ZAR | LCH/INTEREST RATE SWAP PAYER 3MJ 19-20.03.29 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP REC 1.08409% 19-29.03.24 | 18 000 000.00 | 275 731.71 | 0.04 |
| GBP | LCH/INTEREST RATE SWAP PAYER 6ML 19-29.03.24 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 8.07500% 19-19.03.29 | 165 000 000.00 | 714 483.94 | 0.10 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 19-19.03.29 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 3.02250% 19-02.04.24 | 105 000 000.00 | 88 432.12 | 0.01 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAY CNRR007 19-02.04.24 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 3.08000% 19-09.04.24 | 130 000 000.00 | 154 134.55 | 0.02 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 19-09.04.24 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 3.14000% 19-10.04.24 | 110 000 000.00 | 170 022.33 | 0.02 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 19-10.04.24 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP REC 1.43349% 19-10.04.49 | 2 400 000.00 | 347 699.24 | 0.05 |
| GBP | LCH/INTEREST RATE SWAP PAYER 6ML 19-10.04.49 |  |  |  |
| CNY | HSBC/INTEREST RATE SWAP REC 3.23500% 19-17.04.24 | 135 000 000.00 | 284 719.25 | 0.04 |
| CNY | HSBC/INTEREST RATE SWAP PAYER CNRR007 19-17.04.24 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 8.20500% 19-20.04.29 | 160 000 000.00 | 772 415.11 | 0.11 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 19-20.04.29 |  |  |  |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2019
|  | Dénomination | Nombre/ Nominal | Evaluation en USD Bénéfice/(perte) non réalisé(e) sur futures/ Contrats de change à terme/ Swaps (note 1) | en % de l’actif net |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| GBP | LCH/INTEREST RATE SWAP REC 1.22300% 19-07.06.49 | 2 000 000.00 | 148 850.80 | 0.02 |
| GBP | LCH/INTEREST RATE SWAP PAYER 6ML 19-07.06.49 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP REC 1.18689% 19-20.06.49 | 2 900 000.00 | 178 991.12 | 0.03 |
| GBP | LCH/INTEREST RATE SWAP PAYER 6ML 19-20.06.49 |  |  |  |
| ZAR | LCH/INTEREST RATE SWAP REC 7.68000% 19-21.06.29 | 204 000 000.00 | -101 913.58 | -0.01 |
| ZAR | LCH/INTEREST RATE SWAP PAYER 3MJ 19-21.06.29 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 2.87500% 19-25.06.24 | 137 000 000.00 | -18 321.48 | 0.00 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 19-25.06.24 |  |  |  |
| CNY | HSBC/INTEREST RATE SWAP REC 2.87250% 19-16.07.24 | 90 000 000.00 | -16 330.86 | 0.00 |
| CNY | HSBC/INTEREST RATE SWAP PAYER CNRR007 19-16.07.24 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 7.31000% 19-25.07.29 | 220 000 000.00 | 331 753.28 | 0.05 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 19-25.07.29 |  |  |  |
| ZAR | LCH/INTEREST RATE SWAP REC 7.71500% 19-08.08.29 | 190 000 000.00 | -92 009.62 | -0.01 |
| ZAR | LCH/INTEREST RATE SWAP PAYER 3MJ 19-08.08.29 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.77000% 19-28.08.24 | 180 000 000.00 | -161 798.74 | -0.02 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 19-28.08.24 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.83000% 19-30.08.24 | 145 000 000.00 | -75 443.94 | -0.01 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 19-30.08.24 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.78300% 19-10.09.24 | 180 000 000.00 | -148 586.08 | -0.02 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 19-10.09.24 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.94000% 19-19.09.24 | 75 000 000.00 | 16 388.39 | 0.00 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 19-19.09.24 |  |  |  |
| CAD | LCH/INTEREST RATE SWAP REC 1.83100% 24-19.09.29 | 46 000 000.00 | -215 994.28 | -0.03 |
| CAD | LCH/INTEREST RATE SWAP PAYER 3MC 24-19.09.29 |  |  |  |
| CAD | LCH/INTEREST RATE SWAP REC 1.68250% 19-02.10.24 | 30 000 000.00 | -174 088.50 | -0.03 |
| CAD | LCH/INTEREST RATE SWAP PAYER 3MC 19-02.10.24 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 6.68000% 19-26.09.29 | 150 000 000.00 | -141 827.56 | -0.02 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 19-26.09.29 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.96250% 19-21.10.24 | 140 000 000.00 | 44 583.48 | 0.01 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 19-21.10.24 |  |  |  |
| CNY | CITIGROUP/INTEREST RATE SWAP REC 3.03500% 19-23.10.24 | 271 000 000.00 | 216 251.92 | 0.03 |
| CNY | CITIGROUP/INTEREST RATE SWAP PAYER CNRR007 19-23.10.24 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 3.15750% 19-30.10.24 | 111 000 000.00 | 178 855.83 | 0.03 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 19-30.10.24 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP REC 1.22000% 19-21.11.24 | 42 500 000.00 | 19 438.59 | 0.00 |
| NZD | LCH/INTEREST RATE SWAP PAYER 3MF 19-21.11.24 |  |  |  |
| Total des Swaps et Swaps à terme sur taux d’intérêt |  | -4 512 567.45 | -0.65 |
| Credit Default Swaps* |  |  |  |
|  |  |  |  |
| USD	ICE/CDX.NA.IG.24 JUN20 CDI PAYER 1.00000% 15-20.06.20 | -14 880 000.00 | -102 928.27 | -0.02 |
| USD	BOA/MEX CREDIT DEFAULT SWAP PAYER 1.00000% 19-20.06.24 | -8 750 000.00 | -88 584.52 | -0.01 |
| USD	CITIBANK/BRAZIL CREDIT DEFAULT SWAP PAYER 1.00000% 19-20.06.24 | -5 500 000.00 | 18 627.71 | 0.00 |
| USD	JPMORGAN/BRAZIL CREDIT DEFAULT SWAP PAYER 1.00000% 19-20.06.24 | -5 500 000.00 | 18 627.71 | 0.00 |
| USD	JP MORGAN/TCKBCN CREDIT DEFAULT SWAP REC 1.00000% 14-20.03.20 | 70 000.00 | 325.54 | 0.00 |
| USD	GOLDMAN SACHS/MEX CREDIT DEFAULT SWAP REC 1.00000% 15-20.09.20 | 7 000 000.00 | 55 352.11 | 0.01 |
| USD	JPMORGAN/MEX CREDIT DEFAULT SWAP REC 1.00000% 15-20.09.20 | 8 000 000.00 | 63 259.56 | 0.01 |
| USD	BOA/TURKEY CREDIT DEFAULT SWAP REC 1.00000% 19-20.06.24 | 8 750 000.00 | -720 045.86 | -0.11 |
| USD	CITIBANK/SOAF CREDIT DEFAULT SWAP REC 1.00000% 19-20.06.24 | 5 500 000.00 | -163 559.31 | -0.02 |
| USD	JPMORGAN/SOAF CREDIT DEFAULT SWAP REC 1.00000% 19-20.06.24 | 5 500 000.00 | -163 559.31 | -0.02 |
| Total des Credit Default Swaps |  | -1 082 484.64 | -0.16 |
| Total des Instruments dérivés non négociés sur une bourse officielle ou sur un autre marché réglementé |  | -5 595 052.09 | -0.81 |
| Total des Instruments dérivés |  | -2 031 072.68 | -0.29 |
| Contrats de change à terme |  |  |  |
| Contrats de change à terme (achat/vente) |  |  |  |

| USD | 5 882 900.02 | INR | 417 480 000.00 | 5.12.2019 | 62 923.67 | 0.01 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 5 471 324.53 | CLP | 3 951 500 000.00 | 5.12.2019 | 573 078.60 | 0.08 |
| COP | 19 101 203 000.00 | USD | 5 643 729.65 | 5.12.2019 | -225 097.96 | -0.03 |
| USD | 5 675 729.31 | TWD | 171 600 000.00 | 5.12.2019 | 50 882.94 | 0.01 |
| KRW | 6 685 000 000.00 | USD | 5 734 210.55 | 5.12.2019 | -74 233.11 | -0.01 |
| MYR | 23 389 000.00 | USD | 5 596 793.49 | 5.12.2019 | -1 673.58 | 0.00 |
| USD | 10 914 824.26 | CNY | 77 015 000.00 | 5.12.2019 | -43 602.31 | -0.01 |
| USD | 4 253 117.91 | CNY | 30 010 000.00 | 5.12.2019 | -16 990.27 | 0.00 |
| BRL | 55 390 000.00 | USD | 13 726 364.83 | 5.12.2019 | -629 170.35 | -0.09 |
| CLP | 3 951 500 000.00 | USD | 5 350 566.00 | 5.12.2019 | -452 320.07 | -0.07 |
| USD | 5 639 064.45 | COP | 19 101 203 000.00 | 5.12.2019 | 220 432.76 | 0.03 |
| ARS | 192 404 413.00 | USD | 2 983 014.16 | 5.12.2019 | 193 303.51 | 0.03 |
| USD | 14 146 317.04 | JPY | 1 526 000 000.00 | 5.12.2019 | 209 133.38 | 0.03 |
| PLN | 67 520 000.00 | USD | 17 720 817.34 | 5.12.2019 | -456 999.53 | -0.07 |
| NOK | 607 940 000.00 | USD | 66 926 368.07 | 5.12.2019 | -913 757.81 | -0.13 |
| USD | 21 334 341.18 | CAD | 28 055 000.00 | 5.12.2019 | 212 564.40 | 0.03 |
| USD | 122 857 523.77 | NZD | 190 480 000.00 | 5.12.2019 | 581 269.18 | 0.09 |
| USD | 9 867 828.94 | GBP | 7 625 000.00 | 5.12.2019 | 3 976.53 | 0.00 |
| USD | 14 042 676.27 | ZAR | 208 140 000.00 | 5.12.2019 | -155 024.69 | -0.02 |
| AUD | 31 165 000.00 | USD | 21 553 751.40 | 5.12.2019 | -471 797.78 | -0.07 |
| SEK | 324 440 000.00 | USD | 34 022 327.05 | 5.12.2019 | -121 914.40 | -0.02 |
| USD | 181 636 878.45 | EUR | 162 385 000.00 | 5.12.2019 | 2 553 025.10 | 0.37 |
| USD | 5 651 012.09 | THB | 170 660 000.00 | 6.12.2019 | 2 936.28 | 0.00 |
| USD | 1 444 902.08 | CHF | 1 425 000.00 | 5.12.2019 | 18 646.98 | 0.00 |
| HUF | 5 394 550 000.00 | USD | 18 385 374.53 | 5.12.2019 | -592 631.05 | -0.09 |
| USD | 37 812 250.87 | MXN | 724 280 000.00 | 5.12.2019 | 697 950.74 | 0.10 |
| NOK | 11 980 000.00 | EUR | 1 176 052.00 | 5.12.2019 | 3 845.30 | 0.00 |
| AUD | 3 190 000.00 | USD | 2 200 860.11 | 5.12.2019 | -42 944.75 | -0.01 |
| NOK | 17 050 000.00 | EUR | 1 680 173.67 | 5.12.2019 | -1 595.21 | 0.00 |
| SEK | 6 710 000.00 | EUR | 629 654.73 | 5.12.2019 | 6 714.54 | 0.00 |
| USD | 2 033 627.91 | GBP | 1 585 000.00 | 5.12.2019 | -16 759.77 | 0.00 |
| NZD | 8 170 893.33 | AUD | 7 525 000.00 | 5.12.2019 | 154 808.24 | 0.02 |
| EUR | 15 885 000.00 | PLN | 67 786 235.24 | 5.12.2019 | 186 644.92 | 0.03 |
| CLP | 4 828 384 000.00 | USD | 6 380 000.00 | 5.12.2019 | -394 776.09 | -0.06 |

* Nominal positif: le compartiment est «receveur», nominal négatif: le compartiment est «payeur».
UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2019
| Dénomination	Nombre/ | Evaluation en USD | en % |
| --- | --- | --- |
| Nominal | Bénéfice/(perte) non | de |
|  | réalisé(e) sur futures/ | l’actif |
|  | Contrats de | net |
|  | change à terme/ |  |
|  | Swaps (note 1) |  |

Contrats de change à terme (suite)
Contrats de change à terme (achat/vente)
| INR | 417 480 000.00 | USD | 5 783 873.65 | 5.12.2019 | 36 102.70 | 0.01 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 17 072 553.70 | EUR | 15 495 000.00 | 5.12.2019 | -15 873.85 | 0.00 |
| MXN | 38 500 000.00 | USD | 1 968 674.55 | 5.12.2019 | 4 182.02 | 0.00 |
| BRL | 8 270 000.00 | USD | 1 976 955.44 | 5.12.2019 | -21 479.75 | 0.00 |
| HUF | 514 600 000.00 | USD | 1 692 346.75 | 5.12.2019 | 4 948.82 | 0.00 |
| COP | 22 323 315 000.00 | USD | 6 495 000.00 | 5.12.2019 | -162 319.17 | -0.02 |
| AUD | 9 330 000.00 | NZD | 9 923 761.20 | 5.12.2019 | -59 035.89 | -0.01 |
| NOK | 17 470 000.00 | CAD | 2 543 473.45 | 5.12.2019 | -17 941.66 | 0.00 |
| NZD | 10 371 172.50 | AUD | 9 750 000.00 | 5.12.2019 | 62 129.45 | 0.01 |
| SEK | 16 910 000.00 | USD | 1 752 674.51 | 5.12.2019 | 14 234.56 | 0.00 |
| USD | 9 628 065.00 | NZD | 15 000 000.00 | 5.12.2019 | -997.47 | 0.00 |
| USD | 2 859 783.85 | CNY | 20 110 000.00 | 5.12.2019 | -1 658.19 | 0.00 |
| NOK | 14 830 000.00 | EUR | 1 466 664.12 | 5.12.2019 | -7 184.90 | 0.00 |
| USD | 6 636 810.16 | MXN | 129 570 000.00 | 5.12.2019 | -2 748.94 | 0.00 |
| AUD | 1 395 000.00 | USD | 949 523.77 | 5.12.2019 | -5 858.59 | 0.00 |
| MYR | 4 789 000.00 | USD | 1 149 819.93 | 5.12.2019 | -4 194.67 | 0.00 |
| KRW | 1 187 000 000.00 | USD | 1 009 611.30 | 5.12.2019 | -4 616.05 | 0.00 |
| EUR | 340 864 000.00 | USD | 376 852 421.12 | 16.1.2020 | 293 333.24 | 0.04 |
| CHF | 104 674 700.00 | USD | 105 368 021.58 | 16.1.2020 | -205 503.30 | -0.03 |
| EUR | 2 052 500.00 | USD | 2 269 344.57 | 16.1.2020 | 1 624.68 | 0.00 |
| USD | 6 785 000.00 | THB | 205 113 264.00 | 6.12.2019 | -3 323.36 | 0.00 |
| INR | 485 127 500.00 | USD | 6 785 000.00 | 5.12.2019 | -21 968.06 | 0.00 |
| EUR | 2 135 900.00 | USD | 2 360 662.89 | 16.1.2020 | 2 583.50 | 0.00 |
| EUR | 1 376 000.00 | USD | 1 519 373.70 | 16.1.2020 | 3 088.51 | 0.00 |
| AUD | 9 750 000.00 | NZD | 10 273 770.00 | 5.12.2019 | 391.11 | 0.00 |
| TWD | 171 600 000.00 | USD | 5 626 229.51 | 5.12.2019 | -1 383.14 | 0.00 |
| USD | 5 637 319.32 | TWD | 171 600 000.00 | 7.1.2020 | 388.34 | 0.00 |
| USD | 6 774 577.57 | INR | 485 127 500.00 | 5.12.2019 | 11 545.63 | 0.00 |
| USD | 6 752 456.27 | MYR | 28 178 000.00 | 5.12.2019 | 11 711.10 | 0.00 |
| MYR | 28 178 000.00 | USD | 6 749 221.56 | 7.1.2020 | -15 452.42 | 0.00 |
| INR | 485 130 000.00 | USD | 6 753 863.29 | 7.1.2020 | -9 531.60 | 0.00 |
| USD | 6 671 921.48 | KRW | 7 872 000 000.00 | 5.12.2019 | 6 948.79 | 0.00 |
| KRW | 7 872 000 000.00 | USD | 6 676 844.78 | 7.1.2020 | -6 407.78 | 0.00 |
| CNY | 127 135 000.00 | USD | 18 091 070.79 | 5.12.2019 | -1 094.00 | 0.00 |
| USD | 18 080 779.35 | CNY | 127 135 000.00 | 7.1.2020 | 2 678.85 | 0.00 |
| EUR | 2 421 200.00 | USD | 2 673 968.44 | 16.1.2020 | 4 945.44 | 0.00 |
| CHF | 786 800.00 | USD | 790 677.48 | 16.1.2020 | -210.74 | 0.00 |
| USD | 5 945 553.50 | CLP | 4 828 384 000.00 | 5.12.2019 | -39 670.41 | -0.01 |
| CLP | 4 828 400 000.00 | USD | 5 955 106.07 | 7.1.2020 | 41 650.71 | 0.01 |
| USD | 15 049 645.39 | BRL | 63 660 000.00 | 5.12.2019 | -3 024.78 | 0.00 |
| USD | 6 356 296.98 | COP | 22 323 315 000.00 | 5.12.2019 | 23 616.15 | 0.00 |
| BRL | 63 660 000.00 | USD | 15 029 038.20 | 7.1.2020 | -165.94 | 0.00 |
| COP | 22 323 315 000.00 | USD | 6 345 095.50 | 7.1.2020 | -24 351.36 | 0.00 |
| USD | 2 198 258.00 | EUR | 2 000 000.00 | 5.12.2019 | -7 411.90 | 0.00 |
| ARS | 192 404 413.00 | USD | 2 946 468.81 | 7.1.2020 | -205 584.63 | -0.03 |
| USD | 3 174 990.31 | ARS | 192 404 413.00 | 5.12.2019 | -1 327.36 | 0.00 |
| EUR | 927 400.00 | USD | 1 022 602.25 | 16.1.2020 | 3 510.72 | 0.00 |
| CHF | 363 400.00 | USD | 364 169.13 | 16.1.2020 | 924.43 | 0.00 |
| Total des Contrats de change à terme (achat/vente) | 801 067.18 | 0.12 |
|  |  |  |
| Avoirs en banque, dépôts à vue et à terme et autres liquidités | 54 669 121.53* | 7.91 |
| Crédit en compte courant et autres engagements à court terme | -16 790 282.63 | -2.43 |
| Autres actifs et passifs | 595 209.00 | 0.08 |
| Total de l’Actif net | 691 356 719.25 | 100.00 |

* Au 30 novembre 2019, des avoirs en banque ont été utilisés à titre de garanties, à hauteur de 380 000.00 USD en faveur de Goldman Sachs, à hauteur de 840 000.00 USD en faveur de Bank of America et à hauteur de 380 000.00 USD en faveur de Citibank.
UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2019