# Unaudited semi-annual report as of 31 March 2020
| Table of contents | Page |  | ISIN |
| --- | --- | --- | --- |
| Management and Administration | 4 |  |  |
| Features of the Company | 6 |  |  |
| UBS (Lux) Key Selection SICAV | 12 |  |  |
| UBS (Lux) Key Selection SICAV – Asian Equities (USD) UBS (Lux) Key Selection SICAV | 14 | I-A2-acc I-B-acc I-X-dist K-X-acc P-acc (GBP) P-dist Q-acc U-X-acc | LU2066630570 LU1881004144 LU1425939128 LU1810131091 LU0235996351 LU0246169758 LU0425184842 LU0425186540 |
| – Asian Global Strategy Balanced (USD) UBS (Lux) Key Selection SICAV | 19 | P-4%-mdist P-acc (HKD) P-acc P-dist P-mdist (HKD) P-mdist (SGD hedged) P-mdist Q-4%-mdist Q-acc | LU1107510874 LU0974636200 LU0974636622 LU0974636382 LU0974636119 LU0974636549 LU0974636895 LU1240791019 LU1240791100 |
| – China A Equity Quantitative (USD) UBS (Lux) Key Selection SICAV | 28 | I-X-acc Q-acc | LU2072949774 LU2090086534 |
| – China Allocation Opportunity (USD) UBS (Lux) Key Selection SICAV | 32 | I-A3-acc I-X-acc P-6%-mdist (HKD) P-6%-mdist (AUD hedged) P-6%-mdist (RMB hedged) P-6%-mdist (SGD hedged) P-6%-mdist P-acc P-mdist (HKD) P-mdist (AUD hedged) P-mdist (SGD hedged) P-mdist Q-6%-mdist Q-acc | LU2095280298 LU1946875082 LU1226288253 LU1226288170 LU1269690746 LU1226287958 LU1226288097 LU1226287529 LU1226287875 LU1951186391 LU2092904486 LU1226287792 LU2037085722 LU2118508683 |
| – China Equity Long Short (USD) | 41 | I-X-acc | LU2072950194 |
| UBS (Lux) Key Selection SICAV – Digital Transformation Dynamic (USD) | 44 | P-acc | LU2041032165 |
|  |  | (CHF hedged) P-acc (EUR hedged) P-acc Q-acc (CHF hedged) Q-acc (EUR hedged) Q-acc | LU2041033056 LU2041032678 LU2041032322 LU2041033213 LU2041032835 |
| UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD) | 49 | F-acc I-A1-acc (EUR hedged) I-A2-acc I-B-acc (EUR hedged) I-B-acc I-X-acc (CHF hedged) I-X-acc (EUR hedged) I-X-acc (EUR hedged) N-4%-mdist (EUR hedged) N-acc (EUR hedged) P-4%-mdist P-acc (CHF hedged) P-acc (EUR hedged) P-acc Q-acc (EUR hedged) Q-acc | LU0425150785 LU0425151833 LU0920342325 LU0425154183 LU0945635695 LU0425154852 LU0943632256 LU1191107694 LU1240811577 LU1089022138 LU1240811494 LU0218832805 LU0849400626 LU0849401350 LU1240792256 LU1121267162 |

| UBS (Lux) Key Selection SICAV |  |  |  |
| --- | --- | --- | --- |
| – Emerging Markets Income (USD) | 60 | (EUR hedged) N-8%-mdist | LU1121267089 |
|  |  | (EUR hedged) N-acc | LU1392922438 |
|  |  | P-acc | LU0878005551 |
|  |  | (CHF hedged) P-acc | LU1392922271 |
|  |  | (EUR hedged) P-acc | LU0878006104 |
|  |  | P-dist | LU0878005478 |
|  |  | (EUR hedged) P-dist | LU0878005809 |
|  |  | P-mdist | LU0878004406 |
|  |  | (HKD) P-mdist | LU0882747503 |
|  |  | (SGD hedged) P-mdist | LU0882747412 |
|  |  | Q-acc | LU1240793221 |
|  |  | (CHF hedged) Q-acc | LU1392922354 |
|  |  | (EUR hedged) Q-acc | LU0943632330 |
|  |  | Q-dist | LU1240793494 |
|  |  | (EUR hedged) Q-dist | LU1240792926 |
| UBS (Lux) Key Selection SICAV |  |  |  |
| – European Equity Value Opportunity (EUR) | 67 | I-B-acc | LU0421770834 |
|  |  | K-1-acc | LU0421769158 |
|  |  | P-acc | LU0153925689 |
|  |  | Q-acc | LU0421769745 |
| UBS (Lux) Key Selection SICAV |  |  |  |
| – European Growth and Income (EUR) | 72 | K-1-8%-mdist | LU1055648213 |
|  |  | (HKD hedged) P-6%-mdist | LU1722559652 |
|  |  | (USD hedged) P-6%-mdist | LU1722559579 |
|  |  | P-8%-mdist | LU1038902414 |
|  |  | (AUD hedged) P-8%-mdist | LU1089952383 |
|  |  | (GBP hedged) P-8%-mdist | LU1124146223 |
|  |  | (HKD hedged) P-8%-mdist | LU1038902844 |
|  |  | (RMB hedged) P-8%-mdist | LU1038902760 |
|  |  | (SGD hedged) P-8%-mdist | LU1038903065 |
|  |  | (USD hedged) P-8%-mdist | LU1038902687 |
|  |  | P-acc | LU1038902331 |
|  |  | (SGD hedged) P-acc | LU1038902927 |
|  |  | (USD hedged) P-acc | LU1038902505 |
|  |  | (SGD hedged) P-mdist | LU1046463953 |
|  |  | (USD hedged) P-mdist | LU1046463011 |
|  |  | Q-8%-mdist | LU1240794625 |
|  |  | (GBP hedged) Q-8%-mdist | LU1240793734 |
|  |  | (USD hedged) Q-8%-mdist | LU1240794385 |
|  |  | Q-acc | LU1240794898 |
|  |  | (USD hedged) Q-acc | LU1240794468 |
|  |  | (USD hedged) Q-mdist | LU1240794542 |
| UBS (Lux) Key Selection SICAV – Global Allocation (CHF) | 85 | K-1-acc | LU0423409522 |
|  |  | P-acc | LU0197216715 |
|  |  | Q-acc | LU0423410538 |
| UBS (Lux) Key Selection SICAV – Global Allocation (EUR) | 92 | I-A2-acc | LU0423399384 |
|  |  | (CAD hedged) I-X-dist | LU0423402782 |
|  |  | (USD hedged) I-X-dist | LU1611256956 |
|  |  | K-1-UKdist | LU1240062015 |
|  |  | N-6%-mdist | LU1121266784 |
|  |  | N-acc | LU0423397842 |
|  |  | P-acc | LU0197216558 |
|  |  | (CAD hedged) P-acc | LU0218832045 |
|  |  | (GBP hedged) P-acc | LU0678606244 |
|  |  | Q-acc | LU0423398907 |
|  |  | (CAD hedged) Q-acc | LU0423401628 |
|  |  | (GBP hedged) Q-acc | LU1240794971 |
| UBS (Lux) Key Selection SICAV – Global Allocation (USD) | 105 | I-X-acc | LU0423408631 |
|  |  | K-1-acc | LU0423406858 |
|  |  | P-acc | LU0197216392 |
|  |  | (JPY) P-acc | LU0953722104 |
|  |  | Q-acc | LU0423407401 |
| UBS (Lux) Key Selection SICAV |  |  |  |
| – Global Allocation Focus Europe (EUR) | 112 | K-1-acc | LU0424172541 |
|  |  | P-acc | LU0263318890 |
|  |  | (CHF hedged) P-acc | LU0263319278 |
|  |  | Q-acc | LU0424173358 |
|  |  | (CHF hedged) Q-acc | LU0424176021 |
| UBS (Lux) Key Selection SICAV – Global Equities (USD) | 119 | I-X-acc | LU0421789263 |
|  |  | P-acc | LU0161942395 |
|  |  | (EUR) P-acc | LU0161942635 |
|  |  | Q-acc | LU0421788299 |
|  |  | (EUR) Q-acc | LU1240795606 |
| UBS (Lux) Key Selection SICAV – Global Multi Income (USD) | 124 | I-X-acc | LU1564462627 |
|  |  | (EUR hedged) I-X-acc | LU1918890614 |
|  |  | K-1-acc | LU1252257644 |
|  |  | (EUR hedged) P-4%-qdist | LU1669356955 |
|  |  | P-acc | LU1224425600 |
|  |  | (CHF hedged) P-acc | LU1450632309 |
|  |  | (EUR hedged) P-acc | LU1450629776 |
|  |  | (GBP hedged) P-acc | LU1918891000 |
|  |  | P-dist | LU1918889954 |
|  |  | (CHF hedged) P-dist | LU1918890374 |
|  |  | (EUR hedged) P-dist | LU1918890705 |
|  |  | (GBP hedged) P-UKdist | LU1918891182 |

| UBS (Lux) Key Selection SICAV |  | P-mdist (HKD) P-mdist (RMB hedged) P-mdist (SGD hedged) P-mdist Q-acc (CHF hedged) Q-acc (EUR hedged) Q-acc Q-dist (CHF hedged) Q-dist (EUR hedged) Q-dist | LU1224426327 LU1224420122 LU1224420718 LU1224425519 LU1918890028 LU1918890457 LU1918890887 LU1918890291 LU1918890531 LU1918890960 |
| --- | --- | --- | --- |
| – Multi Asset Defensive Growth (EUR) UBS (Lux) Key Selection SICAV | 132 | I-X-acc P-acc Q-acc | LU1877492717 LU1877492550 LU1877492634 |
| – Multi Asset Defensive Growth (USD) UBS (Lux) Key Selection SICAV | 136 | I-X-acc P-acc Q-acc | LU1732779621 LU1732779464 LU1732779548 |
| – Multi Strategy Alternatives (EUR) UBS (Lux) Key Selection SICAV | 140 | I-A1-acc (CHF hedged) I-A1-acc (USD hedged) I-A1-acc P-acc (CHF hedged) P-acc (USD hedged) P-acc Q-acc (CHF hedged) Q-acc (GBP hedged) Q-acc (USD hedged) Q-acc U-X-acc | LU0508499026 LU0508499539 LU0508499885 LU0502418741 LU0502419046 LU0502419392 LU1240795515 LU1240795358 LU1273487584 LU1240795432 LU0500994743 |
| – Systematic Allocation Portfolio Equity (USD) | 144 | F-acc (CHF hedged) F-acc (EUR hedged) F-acc (JPY hedged) F-acc F-UKdist (CHF hedged) F-UKdist (EUR hedged) F-UKdist (GBP hedged) F-UKdist | LU1735538461 LU1735538628 LU1735538974 LU1735539352 LU1735538545 LU1735538891 LU1735539196 LU1735539279 |
| Notes to the Financial Statements | 163 |  |  |
| Appendix | 177 |  |  |
| Sales restrictions |  |  |  |

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

## Sale in Germany
Shares of the subfunds UBS (Lux) Key Selection SICAV
- China A Equity Quantitative (USD)
- China Equity Long Short (USD)may not be publicly distributed to investors in Germany.


## Internet address
www.ubs.com/funds

Translation (ENDE, 2020-03-31):
# Ungeprüfter Halbjahresbericht per 31. März 2020
| Inhaltsverzeichnis | Seite |  | ISIN |
| --- | --- | --- | --- |
| Management und Verwaltung | 4 |  |  |
| Charakteristik der Gesellschaft | 6 |  |  |
| UBS (Lux) Key Selection SICAV | 12 |  |  |
| UBS (Lux) Key Selection SICAV – Asian Equities (USD) UBS (Lux) Key Selection SICAV | 14 | I-A2-acc I-B-acc I-X-dist K-X-acc P-acc (GBP) P-dist Q-acc U-X-acc | LU2066630570 LU1881004144 LU1425939128 LU1810131091 LU0235996351 LU0246169758 LU0425184842 LU0425186540 |
| – Asian Global Strategy Balanced (USD) UBS (Lux) Key Selection SICAV | 19 | P-4%-mdist P-acc (HKD) P-acc P-dist P-mdist (HKD) P-mdist (SGD hedged) P-mdist Q-4%-mdist Q-acc | LU1107510874 LU0974636200 LU0974636622 LU0974636382 LU0974636119 LU0974636549 LU0974636895 LU1240791019 LU1240791100 |
| – China A Equity Quantitative (USD) UBS (Lux) Key Selection SICAV | 28 | I-X-acc Q-acc | LU2072949774 LU2090086534 |
| – China Allocation Opportunity (USD) UBS (Lux) Key Selection SICAV | 32 | I-A3-acc I-X-acc P-6%-mdist (HKD) P-6%-mdist (AUD hedged) P-6%-mdist (RMB hedged) P-6%-mdist (SGD hedged) P-6%-mdist P-acc P-mdist (HKD) P-mdist (AUD hedged) P-mdist (SGD hedged) P-mdist Q-6%-mdist Q-acc | LU2095280298 LU1946875082 LU1226288253 LU1226288170 LU1269690746 LU1226287958 LU1226288097 LU1226287529 LU1226287875 LU1951186391 LU2092904486 LU1226287792 LU2037085722 LU2118508683 |
| – China Equity Long Short (USD) | 41 | I-X-acc | LU2072950194 |
| UBS (Lux) Key Selection SICAV – Digital Transformation Dynamic (USD) | 44 | P-acc | LU2041032165 |
|  |  | (CHF hedged) P-acc (EUR hedged) P-acc Q-acc (CHF hedged) Q-acc (EUR hedged) Q-acc | LU2041033056 LU2041032678 LU2041032322 LU2041033213 LU2041032835 |
| UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD) | 49 | F-acc I-A1-acc (EUR hedged) I-A2-acc I-B-acc (EUR hedged) I-B-acc I-X-acc (CHF hedged) I-X-acc (EUR hedged) I-X-acc (EUR hedged) N-4%-mdist (EUR hedged) N-acc (EUR hedged) P-4%-mdist P-acc (CHF hedged) P-acc (EUR hedged) P-acc Q-acc (EUR hedged) Q-acc | LU0425150785 LU0425151833 LU0920342325 LU0425154183 LU0945635695 LU0425154852 LU0943632256 LU1191107694 LU1240811577 LU1089022138 LU1240811494 LU0218832805 LU0849400626 LU0849401350 LU1240792256 LU1121267162 |

| UBS (Lux) Key Selection SICAV |  |  |  |
| --- | --- | --- | --- |
| – Emerging Markets Income (USD) | 60 | (EUR hedged) N-8%-mdist | LU1121267089 |
|  |  | (EUR hedged) N-acc | LU1392922438 |
|  |  | P-acc | LU0878005551 |
|  |  | (CHF hedged) P-acc | LU1392922271 |
|  |  | (EUR hedged) P-acc | LU0878006104 |
|  |  | P-dist | LU0878005478 |
|  |  | (EUR hedged) P-dist | LU0878005809 |
|  |  | P-mdist | LU0878004406 |
|  |  | (HKD) P-mdist | LU0882747503 |
|  |  | (SGD hedged) P-mdist | LU0882747412 |
|  |  | Q-acc | LU1240793221 |
|  |  | (CHF hedged) Q-acc | LU1392922354 |
|  |  | (EUR hedged) Q-acc | LU0943632330 |
|  |  | Q-dist | LU1240793494 |
|  |  | (EUR hedged) Q-dist | LU1240792926 |
| UBS (Lux) Key Selection SICAV |  |  |  |
| – European Equity Value Opportunity (EUR) | 67 | I-B-acc | LU0421770834 |
|  |  | K-1-acc | LU0421769158 |
|  |  | P-acc | LU0153925689 |
|  |  | Q-acc | LU0421769745 |
| UBS (Lux) Key Selection SICAV |  |  |  |
| – European Growth and Income (EUR) | 72 | K-1-8%-mdist | LU1055648213 |
|  |  | (HKD hedged) P-6%-mdist | LU1722559652 |
|  |  | (USD hedged) P-6%-mdist | LU1722559579 |
|  |  | P-8%-mdist | LU1038902414 |
|  |  | (AUD hedged) P-8%-mdist | LU1089952383 |
|  |  | (GBP hedged) P-8%-mdist | LU1124146223 |
|  |  | (HKD hedged) P-8%-mdist | LU1038902844 |
|  |  | (RMB hedged) P-8%-mdist | LU1038902760 |
|  |  | (SGD hedged) P-8%-mdist | LU1038903065 |
|  |  | (USD hedged) P-8%-mdist | LU1038902687 |
|  |  | P-acc | LU1038902331 |
|  |  | (SGD hedged) P-acc | LU1038902927 |
|  |  | (USD hedged) P-acc | LU1038902505 |
|  |  | (SGD hedged) P-mdist | LU1046463953 |
|  |  | (USD hedged) P-mdist | LU1046463011 |
|  |  | Q-8%-mdist | LU1240794625 |
|  |  | (GBP hedged) Q-8%-mdist | LU1240793734 |
|  |  | (USD hedged) Q-8%-mdist | LU1240794385 |
|  |  | Q-acc | LU1240794898 |
|  |  | (USD hedged) Q-acc | LU1240794468 |
|  |  | (USD hedged) Q-mdist | LU1240794542 |
| UBS (Lux) Key Selection SICAV – Global Allocation (CHF) | 85 | K-1-acc | LU0423409522 |
|  |  | P-acc | LU0197216715 |
|  |  | Q-acc | LU0423410538 |
| UBS (Lux) Key Selection SICAV – Global Allocation (EUR) | 92 | I-A2-acc | LU0423399384 |
|  |  | (CAD hedged) I-X-dist | LU0423402782 |
|  |  | (USD hedged) I-X-dist | LU1611256956 |
|  |  | K-1-UKdist | LU1240062015 |
|  |  | N-6%-mdist | LU1121266784 |
|  |  | N-acc | LU0423397842 |
|  |  | P-acc | LU0197216558 |
|  |  | (CAD hedged) P-acc | LU0218832045 |
|  |  | (GBP hedged) P-acc | LU0678606244 |
|  |  | Q-acc | LU0423398907 |
|  |  | (CAD hedged) Q-acc | LU0423401628 |
|  |  | (GBP hedged) Q-acc | LU1240794971 |
| UBS (Lux) Key Selection SICAV – Global Allocation (USD) | 105 | I-X-acc | LU0423408631 |
|  |  | K-1-acc | LU0423406858 |
|  |  | P-acc | LU0197216392 |
|  |  | (JPY) P-acc | LU0953722104 |
|  |  | Q-acc | LU0423407401 |
| UBS (Lux) Key Selection SICAV |  |  |  |
| – Global Allocation Focus Europe (EUR) | 112 | K-1-acc | LU0424172541 |
|  |  | P-acc | LU0263318890 |
|  |  | (CHF hedged) P-acc | LU0263319278 |
|  |  | Q-acc | LU0424173358 |
|  |  | (CHF hedged) Q-acc | LU0424176021 |
| UBS (Lux) Key Selection SICAV – Global Equities (USD) | 119 | I-X-acc | LU0421789263 |
|  |  | P-acc | LU0161942395 |
|  |  | (EUR) P-acc | LU0161942635 |
|  |  | Q-acc | LU0421788299 |
|  |  | (EUR) Q-acc | LU1240795606 |
| UBS (Lux) Key Selection SICAV – Global Multi Income (USD) | 124 | I-X-acc | LU1564462627 |
|  |  | (EUR hedged) I-X-acc | LU1918890614 |
|  |  | K-1-acc | LU1252257644 |
|  |  | (EUR hedged) P-4%-qdist | LU1669356955 |
|  |  | P-acc | LU1224425600 |
|  |  | (CHF hedged) P-acc | LU1450632309 |
|  |  | (EUR hedged) P-acc | LU1450629776 |
|  |  | (GBP hedged) P-acc | LU1918891000 |
|  |  | P-dist | LU1918889954 |
|  |  | (CHF hedged) P-dist | LU1918890374 |
|  |  | (EUR hedged) P-dist | LU1918890705 |
|  |  | (GBP hedged) P-UKdist | LU1918891182 |

| UBS (Lux) Key Selection SICAV |  | P-mdist (HKD) P-mdist (RMB hedged) P-mdist (SGD hedged) P-mdist Q-acc (CHF hedged) Q-acc (EUR hedged) Q-acc Q-dist (CHF hedged) Q-dist (EUR hedged) Q-dist | LU1224426327 LU1224420122 LU1224420718 LU1224425519 LU1918890028 LU1918890457 LU1918890887 LU1918890291 LU1918890531 LU1918890960 |
| --- | --- | --- | --- |
| – Multi Asset Defensive Growth (EUR) UBS (Lux) Key Selection SICAV | 132 | I-X-acc P-acc Q-acc | LU1877492717 LU1877492550 LU1877492634 |
| – Multi Asset Defensive Growth (USD) UBS (Lux) Key Selection SICAV | 136 | I-X-acc P-acc Q-acc | LU1732779621 LU1732779464 LU1732779548 |
| – Multi Strategy Alternatives (EUR) UBS (Lux) Key Selection SICAV | 140 | I-A1-acc (CHF hedged) I-A1-acc (USD hedged) I-A1-acc P-acc (CHF hedged) P-acc (USD hedged) P-acc Q-acc (CHF hedged) Q-acc (GBP hedged) Q-acc (USD hedged) Q-acc U-X-acc | LU0508499026 LU0508499539 LU0508499885 LU0502418741 LU0502419046 LU0502419392 LU1240795515 LU1240795358 LU1273487584 LU1240795432 LU0500994743 |
| – Systematic Allocation Portfolio Equity (USD) | 144 | F-acc (CHF hedged) F-acc (EUR hedged) F-acc (JPY hedged) F-acc F-UKdist (CHF hedged) F-UKdist (EUR hedged) F-UKdist (GBP hedged) F-UKdist | LU1735538461 LU1735538628 LU1735538974 LU1735539352 LU1735538545 LU1735538891 LU1735539196 LU1735539279 |
| Erläuterungen zum Halbjahresbericht (Anhang) | 163 |  |  |
| Weitere Angaben | 177 |  |  |
| Verkaufsrestriktionen |  |  |  |
| Innerhalb der USA dürfen Aktien dieser Gesellschaft weder angeboten noch verkauft oder ausgeliefert werden. |  |  |  |
| Vertrieb in Deutschland |  |  |  |
| Aktien der Subfonds UBS (Lux) Key Selection SICAV - China A Equity Quantitative (USD)
- China Equity Long Short (USD)dürfen nicht öffentlich an Anleger in der Bundesrepublik Deutschland vertrieben werden.
 |  |  |  |


## Internetadresse
www.ubs.com/funds