# UBS (Lux) Bond SICAV
– Short Duration High Yield Sustainable (USD)
| Most important figures |  |
| --- | --- |
|  | ISIN | 30.11.2020 | 31.5.2020 | 31.5.2019 |
| Net assets in USD |  | 911 336 927.01 | 604 427 049.91 | 607 137 667.02 |
| Class (CHF hedged) F-acc | LU0949706443 |  |  |  |
| Shares outstanding |  | 400.0000 | 400.0000 | 400.0000 |
| Net asset value per share in CHF |  | 120.15 | 113.05 | 116.40 |
| Issue and redemption price per share in CHF 1 |  | 120.15 | 113.05 | 116.40 |
| Class (EUR hedged) F-acc | LU0949593064 |  |  |  |
| Shares outstanding |  | 49 255.0000 | 49 270.0000 | 94 493.0000 |
| Net asset value per share in EUR |  | 123.68 | 118.40 | 121.35 |
| Issue and redemption price per share in EUR 1 |  | 123.68 | 118.40 | 121.35 |
| Class I-A1-acc | LU0849031918 |  |  |  |
| Shares outstanding |  | 71 740.1050 | 71 740.1050 | 67 275.9230 |
| Net asset value per share in USD |  | 129.77 | 121.38 | 121.34 |
| Issue and redemption price per share in USD 1 |  | 129.77 | 121.38 | 121.34 |
| Class (CHF hedged) I-A1-acc | LU0913264692 |  |  |  |
| Shares outstanding |  | 38 728.1470 | 37 437.4670 | 74 464.8520 |
| Net asset value per share in CHF |  | 110.13 | 103.69 | 106.86 |
| Issue and redemption price per share in CHF 1 |  | 110.13 | 103.69 | 106.86 |
| Class I-A2-acc | LU0838526746 |  |  |  |
| Shares outstanding |  | 734.2540 | 734.2540 | 65 136.4540 |
| Net asset value per share in USD |  | 129.82 | 121.40 | 121.32 |
| Issue and redemption price per share in USD 1 |  | 129.82 | 121.40 | 121.32 |
| Class (EUR hedged) I-A2-acc | LU0612440262 |  |  |  |
| Shares outstanding |  | 256 566.0010 | 252 531.0880 | 90 923.4790 |
| Net asset value per share in EUR |  | 108.44 | 103.83 | 106.48 |
| Issue and redemption price per share in EUR 1 |  | 108.44 | 103.83 | 106.48 |
| Class (EUR hedged) I-A3-qdist 2 | LU2095324419 |  |  |  |
| Shares outstanding |  | 1 000 000.0000 | 1 000 000.0000 | - |
| Net asset value per share in EUR |  | 96.12 | 94.10 | - |
| Issue and redemption price per share in EUR 1 |  | 96.12 | 94.10 | - |
| Class I-B-acc | LU0913264429 |  |  |  |
| Shares outstanding |  | 169 278.7060 | 114 668.7460 | 706.7460 |
| Net asset value per share in USD |  | 132.12 | 123.25 | 122.55 |
| Issue and redemption price per share in USD 1 |  | 132.12 | 123.25 | 122.55 |
| Class (EUR hedged) I-B-acc | LU0965046831 |  |  |  |
| Shares outstanding |  | 107 769.0040 | 68 003.8060 | 104 525.3870 |
| Net asset value per share in EUR |  | 102.31 | 108.01 | 110.20 |
| Issue and redemption price per share in EUR 1 |  | 102.31 | 108.01 | 110.20 |
| Class (EUR hedged) I-B-dist 3 | LU2191347462 |  |  |  |
| Shares outstanding |  | 2 223 132.7880 | - | - |
| Net asset value per share in EUR |  | 104.11 | - | - |
| Issue and redemption price per share in EUR 1 |  | 104.11 | - | - |
| Class I-X-acc | LU0912930210 |  |  |  |
| Shares outstanding |  | 456 623.8070 | 496 910.8850 | 569 708.2820 |
| Net asset value per share in USD |  | 127.36 | 118.77 | 118.02 |
| Issue and redemption price per share in USD 1 |  | 127.36 | 118.77 | 118.02 |
| Class (EUR hedged) I-X-acc | LU1822788235 |  |  |  |
| Shares outstanding |  | 251 470.4980 | 252 514.6590 | 355 901.8440 |
| Net asset value per share in EUR |  | 105.67 | 100.90 | 102.88 |
| Issue and redemption price per share in EUR 1 |  | 105.67 | 100.90 | 102.88 |
| Class I-X-UKdist | LU1336831943 |  |  |  |
| Shares outstanding |  | 73 254.8710 | 73 889.4670 | 72 575.9610 |
| Net asset value per share in USD |  | 99.13 | 97.70 | 102.64 |
| Issue and redemption price per share in USD 1 |  | 99.13 | 97.70 | 102.64 |
| Class (EUR hedged) K-1-acc | LU0599212312 |  |  |  |
| Shares outstanding |  | 0.4000 | 0.4000 | 0.4000 |
| Net asset value per share in EUR |  | 3 665 123.28 | 3 513 126.73 | 3 609 344.88 |
| Issue and redemption price per share in EUR 1 |  | 3 665 123.28 | 3 513 126.73 | 3 609 344.88 |
| Class K-B-mdist 4 | LU2204823756 |  |  |  |
| Shares outstanding |  | 132 267.5700 | - | - |
| Net asset value per share in USD |  | 101.02 | - | - |
| Issue and redemption price per share in USD 1 |  | 101.02 | - | - |
| Class K-X-acc | LU1525457625 |  |  |  |
| Shares outstanding |  | 39 870.2750 | 152 138.0510 | 152 138.0510 |
| Net asset value per share in USD |  | 120.62 | 112.50 | 111.84 |
| Issue and redemption price per share in USD 1 |  | 120.62 | 112.50 | 111.84 |

UBS (Lux) Bond SICAV – Short Duration High Yield Sustainable (USD)
Semi-Annual Report as of 30 November 2020
|  | ISIN | 30.11.2020 | 31.5.2020 | 31.5.2019 |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Class (EUR hedged) K-X-acc | LU1856010993 |  |  |  |
| Shares outstanding |  | 14 971.6990 | 62 449.8950 | 16 375.3740 |
| Net asset value per share in EUR |  | 105.09 | 100.35 | 102.36 |
| Issue and redemption price per share in EUR 1 |  | 105.09 | 100.35 | 102.36 |
| Class (EUR hedged) N-dist | LU0843236083 |  |  |  |
| Shares outstanding |  | 22 088.7080 | 26 887.4500 | 23 148.6840 |
| Net asset value per share in EUR |  | 75.95 | 76.21 | 82.26 |
| Issue and redemption price per share in EUR 1 |  | 75.95 | 76.21 | 82.26 |
| Class P-acc | LU0577855355 |  |  |  |
| Shares outstanding |  | 551 481.3550 | 606 634.4750 | 718 688.3460 |
| Net asset value per share in USD |  | 131.86 | 123.78 | 124.60 |
| Issue and redemption price per share in USD 1 |  | 131.86 | 123.78 | 124.60 |
| Class (CHF hedged) P-acc | LU0577855785 |  |  |  |
| Shares outstanding |  | 353 876.7390 | 387 677.7760 | 489 348.4600 |
| Net asset value per share in CHF |  | 113.23 | 106.98 | 111.05 |
| Issue and redemption price per share in CHF 1 |  | 113.23 | 106.98 | 111.05 |
| Class (EUR hedged) P-acc | LU0577855942 |  |  |  |
| Shares outstanding |  | 603 805.5920 | 682 001.0940 | 898 797.0720 |
| Net asset value per share in EUR |  | 116.52 | 112.02 | 115.74 |
| Issue and redemption price per share in EUR 1 |  | 116.52 | 112.02 | 115.74 |
| Class P-mdist | LU0590765581 |  |  |  |
| Shares outstanding |  | 111 764.3140 | 119 133.6090 | 131 028.7020 |
| Net asset value per share in USD |  | 80.76 | 77.71 | 82.38 |
| Issue and redemption price per share in USD 1 |  | 80.76 | 77.71 | 82.38 |
| Class (EUR hedged) P-qdist | LU1669357847 |  |  |  |
| Shares outstanding |  | 5 375.6600 | 5 375.6600 | 5 713.0740 |
| Net asset value per share in EUR |  | 88.92 | 87.07 | 93.77 |
| Issue and redemption price per share in EUR 1 |  | 88.92 | 87.07 | 93.77 |
| Class Q-acc | LU1240776721 |  |  |  |
| Shares outstanding |  | 265 371.2010 | 266 206.6660 | 389 721.2880 |
| Net asset value per share in USD |  | 119.32 | 111.70 | 111.84 |
| Issue and redemption price per share in USD 1 |  | 119.32 | 111.70 | 111.84 |
| Class (CHF hedged) Q-acc | LU1240776218 |  |  |  |
| Shares outstanding |  | 242 345.2590 | 260 419.9280 | 314 993.9060 |
| Net asset value per share in CHF |  | 104.92 | 98.86 | 102.07 |
| Issue and redemption price per share in CHF 1 |  | 104.92 | 98.86 | 102.07 |
| Class (EUR hedged) Q-acc | LU0577855512 |  |  |  |
| Shares outstanding |  | 239 073.9980 | 260 154.8430 | 425 382.6140 |
| Net asset value per share in EUR |  | 124.25 | 119.10 | 122.40 |
| Issue and redemption price per share in EUR 1 |  | 124.25 | 119.10 | 122.40 |
| Class Q-dist | LU0803109510 |  |  |  |
| Shares outstanding |  | 8 144.9710 | 11 324.9710 | 18 157.9710 |
| Net asset value per share in USD |  | 86.72 | 85.35 | 89.58 |
| Issue and redemption price per share in USD 1 |  | 86.72 | 85.35 | 89.58 |
| Class Q-mdist | LU1240776994 |  |  |  |
| Shares outstanding |  | 15 652.9030 | 15 652.9050 | 25 620.7960 |
| Net asset value per share in USD |  | 94.29 | 90.50 | 95.44 |
| Issue and redemption price per share in USD 1 |  | 94.29 | 90.50 | 95.44 |
| 1  See note 1 2  First NAV: 22.1.2020 3  First NAV: 30.6.2020 4  First NAV: 31.7.2020 |  |  |  |  |

UBS (Lux) Bond SICAV – Short Duration High Yield Sustainable (USD) Semi-Annual Report as of 30 November 2020

## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
United States	74.29
Canada	6.30
United Kingdom	3.64
France	1.75
The Netherlands	1.41
Luxembourg	1.39
Ireland	1.36
Germany	0.92
Curacao	0.77
Japan	0.72
Italy	0.64
Denmark	0.59
Multinationals	0.49
Sweden	0.36
Australia	0.28
China	0.04
Poland	0.02
Total	94.97
Economic Breakdown as a % of net assets	
Finance & holding companies	27.77
Telecommunications	9.49
Healthcare & social services	7.47
Countries & central governments	4.94
Building industry & materials	4.69
Internet, software & IT services	3.99
Petroleum	3.95
Pharmaceuticals, cosmetics & medical products	3.09
Mechanical engineering & industrial equipment	2.62
Miscellaneous services	2.31
Energy & water supply	2.25
Vehicles	2.19
Packaging industry	2.04
Graphic design, publishing & media	1.96
Banks & credit institutions	1.71
Lodging, catering & leisure	1.61
Food & soft drinks	1.61
Electrical devices & components	1.49
Computer hardware & network equipment providers	1.34
Traffic & transportation	1.29
Miscellaneous consumer goods	1.26
Textiles, garments & leather goods	0.92
Real Estate	0.91
Aerospace industry	0.90
Miscellaneous unclassified companies	0.80
Agriculture & fishery	0.70
Environmental services & recycling	0.65
Chemicals	0.60
Investment funds	0.42
Total	94.97
UBS (Lux) Bond SICAV – Short Duration High Yield Sustainable (USD)
Semi-Annual Report as of 30 November 2020

## Statement of Net Assets
Assets	30.11.2020
USD
Investments in securities, cost	864 647 416.84
| Investments in securities, unrealized appreciation (depreciation) | 	847 100.08	 |
| --- | --- |
| Total investments in securities (Note 1) | 865 494 516.92 |
| Cash at banks, deposits on demand and deposit accounts | 22 855 181.48 |
| Other liquid assets (Margins) | 437 587.79 |
| Receivable on securities sales (Note 1) | 1 819 759.17 |
| Receivable on subscriptions | 214 992.90 |
| Interest receivable on securities | 11 770 102.56 |
| Unrealized gain on forward foreign exchange contracts (Note 1) | 4 597 747.19 |
| Unrealized gain on swaps (Note 1) | 5 224 483.53 |
| Total Assets | 912 414 371.54 |
|  |  |
| Liabilities |  |
| Bank overdraft | -1 321.50 |
| Interest payable on bank overdraft | -11.42 |
| Payable on redemptions | -852 168.89 |
| Provisions for flat fee (Note 2) | -181 734.88 |
| Provisions for taxe d’abonnement (Note 3) | -37 086.03 |
| Provisions for other commissions and fees (Note 2) | 	-5 121.81	 |
| Total provisions | -223 942.72 |
| Total Liabilities | -1 077 444.53 |
|  |  |
| Net assets at the end of the period | 911 336 927.01 |
| Statement of Operations | USD |
| Income | 1.6.2020-30.11.2020 |
| Interest on liquid assets | 75.99 |
| Interest on securities | 20 290 099.92 |
| Interest received on swaps (Note 1) | 1 373 517.11 |
| Income on securities lending (Note 12) | 7 978.85 |
| Other income (Note 4) | 3 015 033.94 |
| Total income | 24 686 705.81 |
|  |  |
| Expenses |  |
| Interest paid on swaps (Note 1) | -722 867.28 |
| Flat fee (Note 2) | -2 275 944.94 |
| Taxe d’abonnement (Note 3) | -115 486.33 |
| Cost on securities lending (Note 12) | -3 191.54 |
| Other commissions and fees (Note 2) | -38 407.42 |
| Interest on cash and bank overdraft | -31 334.90 |
| Total expenses | -3 187 232.41 |
|  |  |
| Net income (loss) on investments | 21 499 473.40 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | -7 320 127.83 |
| Realized gain (loss) on options | 237 888.00 |
| Realized gain (loss) on forward foreign exchange contracts | 37 360 329.58 |
| Realized gain (loss) on swaps | -860 245.57 |
| Realized gain (loss) on foreign exchange | 2 348 468.15 |
| Total realized gain (loss) | 31 766 312.33 |
|  |  |
| Net realized gain (loss) of the period | 53 265 785.73 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | 28 848 486.75 |
| Unrealized appreciation (depreciation) on options | 161 717.82 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | -3 337 935.45 |
| Unrealized appreciation (depreciation) on swaps | 5 218 060.67 |
| Total changes in unrealized appreciation (depreciation) | 30 890 329.79 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | 84 156 115.52 |

UBS (Lux) Bond SICAV – Short Duration High Yield Sustainable (USD) Semi-Annual Report as of 30 November 2020
| Changes in Net Assets |  |
| --- | --- |
|  | USD |
|  | 1.6.2020-30.11.2020 |
| Net assets at the beginning of the period | 604 427 049.91 |
| Subscriptions | 415 804 704.33 |
| Redemptions | 	-189 497 020.77	 |
| Total net subscriptions (redemptions) | 226 307 683.56 |
| Dividend paid | -3 553 921.98 |
| Net income (loss) on investments | 21 499 473.40 |
| Total realized gain (loss) | 31 766 312.33 |
| Total changes in unrealized appreciation (depreciation) | 	30 890 329.79	 |
| Net increase (decrease) in net assets as a result of operations | 84 156 115.52 |
| Net assets at the end of the period | 911 336 927.01 |
| Changes in the Number of Shares outstanding |  |
|  | 1.6.2020-30.11.2020 |
| Class | (CHF hedged) F-acc |
| Number of shares outstanding at the beginning of the period | 400.0000 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 400.0000 |
| Class | (EUR hedged) F-acc |
| Number of shares outstanding at the beginning of the period | 49 270.0000 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -15.0000 |
| Number of shares outstanding at the end of the period | 49 255.0000 |
| Class | I-A1-acc |
| Number of shares outstanding at the beginning of the period | 71 740.1050 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 71 740.1050 |
| Class | (CHF hedged) I-A1-acc |
| Number of shares outstanding at the beginning of the period | 37 437.4670 |
| Number of shares issued | 8 593.6120 |
| Number of shares redeemed | -7 302.9320 |
| Number of shares outstanding at the end of the period | 38 728.1470 |
| Class | I-A2-acc |
| Number of shares outstanding at the beginning of the period | 734.2540 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 734.2540 |
| Class | (EUR hedged) I-A2-acc |
| Number of shares outstanding at the beginning of the period | 252 531.0880 |
| Number of shares issued | 339 403.5360 |
| Number of shares redeemed | -335 368.6230 |
| Number of shares outstanding at the end of the period | 256 566.0010 |
| Class | (EUR hedged) I-A3-qdist |
| Number of shares outstanding at the beginning of the period | 1 000 000.0000 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 1 000 000.0000 |
| Class | I-B-acc |
| Number of shares outstanding at the beginning of the period | 114 668.7460 |
| Number of shares issued | 54 609.9600 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 169 278.7060 |
| Class | (EUR hedged) I-B-acc |
| Number of shares outstanding at the beginning of the period | 68 003.8060 |
| Number of shares issued | 107 769.0040 |
| Number of shares redeemed | -68 003.8060 |
| Number of shares outstanding at the end of the period | 107 769.0040 |
| Class | (EUR hedged) I-B-dist |
| Number of shares outstanding at the beginning of the period | 0.0000 |
| Number of shares issued | 2 223 132.7880 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 2 223 132.7880 |
| Class | I-X-acc |
| Number of shares outstanding at the beginning of the period | 496 910.8850 |
| Number of shares issued | 2 788.5420 |
| Number of shares redeemed | -43 075.6200 |
| Number of shares outstanding at the end of the period | 456 623.8070 |

UBS (Lux) Bond SICAV – Short Duration High Yield Sustainable (USD)
Semi-Annual Report as of 30 November 2020
| Class | (EUR hedged) I-X-acc |
| --- | --- |
| Number of shares outstanding at the beginning of the period | 252 514.6590 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -1 044.1610 |
| Number of shares outstanding at the end of the period | 251 470.4980 |
| Class | I-X-UKdist |
| Number of shares outstanding at the beginning of the period | 73 889.4670 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -634.5960 |
| Number of shares outstanding at the end of the period | 73 254.8710 |
| Class | (EUR hedged) K-1-acc |
| Number of shares outstanding at the beginning of the period | 0.4000 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 0.4000 |
| Class | K-B-mdist |
| Number of shares outstanding at the beginning of the period | 0.0000 |
| Number of shares issued | 132 267.5700 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 132 267.5700 |
| Class | K-X-acc |
| Number of shares outstanding at the beginning of the period | 152 138.0510 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -112 267.7760 |
| Number of shares outstanding at the end of the period | 39 870.2750 |
| Class | (EUR hedged) K-X-acc |
| Number of shares outstanding at the beginning of the period | 62 449.8950 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -47 478.1960 |
| Number of shares outstanding at the end of the period | 14 971.6990 |
| Class | (EUR hedged) N-dist |
| Number of shares outstanding at the beginning of the period | 26 887.4500 |
| Number of shares issued | 816.0430 |
| Number of shares redeemed | -5 614.7850 |
| Number of shares outstanding at the end of the period | 22 088.7080 |
| Class | P-acc |
| Number of shares outstanding at the beginning of the period | 606 634.4750 |
| Number of shares issued | 3 828.2370 |
| Number of shares redeemed | -58 981.3570 |
| Number of shares outstanding at the end of the period | 551 481.3550 |
| Class | (CHF hedged) P-acc |
| Number of shares outstanding at the beginning of the period | 387 677.7760 |
| Number of shares issued | 1 017.8370 |
| Number of shares redeemed | -34 818.8740 |
| Number of shares outstanding at the end of the period | 353 876.7390 |
| Class | (EUR hedged) P-acc |
| Number of shares outstanding at the beginning of the period | 682 001.0940 |
| Number of shares issued | 4 597.4700 |
| Number of shares redeemed | -82 792.9720 |
| Number of shares outstanding at the end of the period | 603 805.5920 |
| Class | P-mdist |
| Number of shares outstanding at the beginning of the period | 119 133.6090 |
| Number of shares issued | 100.0000 |
| Number of shares redeemed | -7 469.2950 |
| Number of shares outstanding at the end of the period | 111 764.3140 |
| Class | (EUR hedged) P-qdist |
| Number of shares outstanding at the beginning of the period | 5 375.6600 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 5 375.6600 |
| Class | Q-acc |
| Number of shares outstanding at the beginning of the period | 266 206.6660 |
| Number of shares issued | 14 121.9500 |
| Number of shares redeemed | -14 957.4150 |
| Number of shares outstanding at the end of the period | 265 371.2010 |
| Class | (CHF hedged) Q-acc |
| Number of shares outstanding at the beginning of the period | 260 419.9280 |
| Number of shares issued | 1 754.0930 |
| Number of shares redeemed | -19 828.7620 |
| Number of shares outstanding at the end of the period | 242 345.2590 |
| Class | (EUR hedged) Q-acc |
| Number of shares outstanding at the beginning of the period | 260 154.8430 |
| Number of shares issued | 615 423.1280 |
| Number of shares redeemed | -636 503.9730 |
| Number of shares outstanding at the end of the period | 239 073.9980 |

UBS (Lux) Bond SICAV – Short Duration High Yield Sustainable (USD) Semi-Annual Report as of 30 November 2020
| Class |  |  | Q-dist |
| --- | --- | --- | --- |
| Number of shares outstanding at the beginning of the period |  |  | 11 324.9710 |
| Number of shares issued |  |  | 0.0000 |
| Number of shares redeemed |  |  | -3 180.0000 |
| Number of shares outstanding at the end of the period |  |  | 8 144.9710 |
| Class |  |  | Q-mdist |
| Number of shares outstanding at the beginning of the period |  |  | 15 652.9050 |
| Number of shares issued |  |  | 0.0000 |
| Number of shares redeemed |  |  | -0.0020 |
| Number of shares outstanding at the end of the period |  |  | 15 652.9030 |
| Annual Distribution 1 |  |  |  |
| UBS (Lux) Bond SICAV – Short Duration High Yield Sustainable (USD)	Ex-Date | Pay-Date | Currency | Amount per share |
| I-X-UKdist	15.6.2020 | 18.6.2020 | USD | 5.29 |
| (EUR hedged) N-dist	3.8.2020 | 6.8.2020 | EUR | 3.09 |
| Q-dist	3.8.2020 | 6.8.2020 | USD | 4.36 |
| Quarterly Distribution 1 |  |  |  |
| UBS (Lux) Bond SICAV – Short Duration High Yield Sustainable (USD)	Ex-Date | Pay-Date | Currency | Amount per share |
| (EUR hedged) I-A3-qdist	15.7.2020 | 20.7.2020 | EUR | 1.14 |
| (EUR hedged) I-A3-qdist	15.10.2020 | 20.10.2020 | EUR | 1.09 |
| (EUR hedged) P-qdist	15.7.2020 | 20.7.2020 | EUR | 0.84 |
| (EUR hedged) P-qdist	15.10.2020 | 20.10.2020 | EUR | 0.78 |
| Monthly Distribution 1 |  |  |  |
| UBS (Lux) Bond SICAV – Short Duration High Yield Sustainable (USD)	Ex-Date | Pay-Date | Currency | Amount per share |
| K-B-mdist	15.9.2020 | 18.9.2020 | USD | 0.44 |
| K-B-mdist	15.10.2020 | 20.10.2020 | USD | 0.44 |
| K-B-mdist	16.11.2020 | 19.11.2020 | USD | 0.44 |
| P-mdist	15.6.2020 | 18.6.2020 | USD | 0.35 |
| P-mdist	15.7.2020 | 20.7.2020 | USD | 0.35 |
| P-mdist	17.8.2020 | 20.8.2020 | USD | 0.35 |
| P-mdist	15.9.2020 | 18.9.2020 | USD | 0.35 |
| P-mdist	15.10.2020 | 20.10.2020 | USD | 0.35 |
| P-mdist	16.11.2020 | 19.11.2020 | USD | 0.22 |
| Q-mdist	15.6.2020 | 18.6.2020 | USD | 0.41 |
| Q-mdist	15.7.2020 | 20.7.2020 | USD | 0.41 |
| Q-mdist	17.8.2020 | 20.8.2020 | USD | 0.41 |
| Q-mdist	15.9.2020 | 18.9.2020 | USD | 0.41 |
| Q-mdist	15.10.2020 | 20.10.2020 | USD | 0.41 |
| Q-mdist	16.11.2020 | 19.11.2020 | USD | 0.26 |
| 1  See note 5 |  |  |  |

UBS (Lux) Bond SICAV – Short Duration High Yield Sustainable (USD)
Semi-Annual Report as of 30 November 2020

## Statement of Investments in Securities and other Net Assets as of 30 November 2020
| 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 |  |  |  |
| EUR |  |  |  |
| EUR	DKT FINANCE APS-REG-S 7.00000% 18-17.06.23 | 4 375 000.00 | 5 382 892.52 | 0.59 |
| EUR	NIDDA HEALTHCARE HOLDING AG-REG-S 3.50000% 17-30.09.24 | 7 000 000.00 | 8 373 400.00 | 0.92 |
| EUR	SOFTBANK GROUP CORP-REG-S 4.00000% 18-20.04.23 | 5 250 000.00 | 6 538 536.86 | 0.71 |
| EUR	VALEANT PHARMACEUTICALS INTL-REG-S 4.50000% 15-15.05.23 | 4 475 000.00 | 5 358 348.00 | 0.59 |
| Total EUR |  | 25 653 177.38 | 2.81 |
| USD |  |  |  |
| USD	ACADIA HEALTHCARE CO INC 5.62500% 15-15.02.23 | 3 000 000.00 | 3 015 000.00 | 0.33 |
| USD	AECOM TECHNOLOGY CORP 5.87500% 15-15.10.24 | 6 450 000.00 | 7 159 500.00 | 0.79 |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 4.50000% 20-15.09.23 | 4 825 000.00 | 5 166 427.61 | 0.57 |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 3.15000% 20-15.02.24 | 4 850 000.00 | 5 007 916.97 | 0.55 |
| USD	ALTICE FRANCE-144A 7.37500% 16-01.05.26 | 7 800 000.00 | 8 190 000.00 | 0.90 |
| USD	ARDAGH PACKAGING FINANCE/MP-144A 4.12500% 19-15.08.26 | 2 145 000.00 | 2 225 437.50 | 0.24 |
| USD	BALL CORP 4.00000% 13-15.11.23 | 1 675 000.00 | 1 785 081.00 | 0.20 |
| USD	BALL CORP 5.00000% 12-15.03.22 | 2 525 000.00 | 2 632 123.13 | 0.29 |
| USD	BARCLAYS BANK PLC-144A-SUB 10.17900% 09-12.06.21 | 2 325 000.00 | 2 436 050.84 | 0.27 |
| USD	BOMBARDIER INC-144A 8.75000% 16-01.12.21 | 9 850 000.00 | 10 095 757.50 | 1.11 |
| USD	BUCKEYE PARTNERS L P 4.15000% 13-01.07.23 | 3 275 000.00 | 3 307 750.00 | 0.36 |
| USD	CABLEVISION SYSTEMS CORP 5.87500% 12-15.09.22 | 6 644 000.00 | 7 067 555.00 | 0.78 |
| USD	CENOVUS ENERGY INC 5.37500% 20-15.07.25 | 2 675 000.00 | 2 943 045.70 | 0.32 |
| USD	CENTURYLINK INC 5.80000% 12-15.03.22 | 3 525 000.00 | 3 666 000.00 | 0.40 |
| USD	CENTURYLINK INC 6.45000% 11-15.06.21 | 10 000 000.00 | 10 250 000.00 | 1.12 |
| USD	CENTURYLINK INC 6.75000% 13-01.12.23 | 11 735 000.00 | 13 014 701.75 | 1.43 |
| USD	CIT GROUP INC 4.75000% 18-16.02.24 | 4 770 000.00 | 5 187 375.00 | 0.57 |
| USD	CIT GROUP INC 5.00000% 13-01.08.23 | 4 275 000.00 | 4 638 375.00 | 0.51 |
| USD	COVANTA HOLDING CORP 5.87500% 17-01.07.25 | 5 725 000.00 | 5 961 156.25 | 0.65 |
| USD	EQT MIDSTREAM PARTNERS LP 4.75000% 18-15.07.23 | 1 645 000.00 | 1 677 900.00 | 0.18 |
| USD	FORD MOTOR CREDIT CO 3.37500% 20-13.11.25 | 1 000 000.00 | 1 007 700.00 | 0.11 |
| USD	FORD MOTOR CREDIT CO LLC 5.87500% 11-02.08.21 | 7 020 000.00 | 7 186 654.80 | 0.79 |
| USD	FORD MOTOR CREDIT CO LLC 4.25000% 12-20.09.22 | 2 400 000.00 | 2 459 544.00 | 0.27 |
| USD	FORD MOTOR CREDIT CO LLC 4.37500% 13-06.08.23 | 3 300 000.00 | 3 442 692.00 | 0.38 |
| USD	FORD MOTOR CREDIT CO LLC 3.47000% 18-05.04.21 | 3 500 000.00 | 3 508 750.00 | 0.39 |
| USD	FORD MOTOR CREDIT CO LLC 3.81300% 18-12.10.21 | 6 300 000.00 | 6 376 387.50 | 0.70 |
| USD	FORD MOTOR CREDIT CO LLC 5.59600% 19-07.01.22 | 10 925 000.00 | 11 239 093.75 | 1.23 |
| USD	FRESENIUS MEDICAL CARE US FINANCE-144A 5.75000% 11-15.02.21 | 2 105 000.00 | 2 126 113.15 | 0.23 |
| USD	HCA INC 5.87500% 12-01.05.23 | 5 175 000.00 | 5 660 156.25 | 0.62 |
| USD	HILLENBRAND INC 5.75000% 20-15.06.25 | 6 545 000.00 | 7 003 150.00 | 0.77 |
| USD	INTERNATIONAL GAME TECHNOLOGY PLC-144A 6.25000% 15-15.02.22 | 5 720 000.00 | 5 884 736.00 | 0.65 |
| USD	ISTAR INC 4.75000% 19-01.10.24 | 2 395 000.00 | 2 395 000.00 | 0.26 |
| USD	KB HOME 7.00000% 13-15.12.21 | 5 000 000.00 | 5 200 000.00 | 0.57 |
| USD	KB HOME 7.62500% 15-15.05.23 | 7 900 000.00 | 8 729 500.00 | 0.96 |
| USD	KRAFT HEINZ FOODS CO 4.00000% 18-15.06.23 | 2 265 000.00 | 2 427 613.64 | 0.27 |
| USD	LEVEL 3 FINANCING INC 5.37500% 16-01.05.25 | 2 400 000.00 | 2 463 720.00 | 0.27 |
| USD	M/I HOMES INC 5.62500% 17-01.08.25 | 1 460 000.00 | 1 518 400.00 | 0.17 |
| USD	MGM RESORTS INTL 7.75000% 12-15.03.22 | 2 100 000.00 | 2 242 170.00 | 0.25 |
| USD	MOLINA HEALTHCARE INC 5.37500% 16-15.11.22 | 5 400 000.00 | 5 683 500.00 | 0.62 |
| USD	NAVIENT CORP 5.87500% 15-25.03.21 | 7 400 000.00 | 7 514 034.00 | 0.82 |
| USD	NETFLIX INC 5.50000% 15-15.02.22 | 4 425 000.00 | 4 649 015.62 | 0.51 |
| USD	NETFLIX INC 5.87500% 15-15.02.25 | 10 640 000.00 | 12 156 200.00 | 1.33 |
| USD	NEWFIELD EXPLORATION CO 5.75000% 11-30.01.22 | 2 750 000.00 | 2 847 615.93 | 0.31 |
| USD	NRG ENERGY INC 6.62500% 17-15.01.27 | 3 065 000.00 | 3 225 912.50 | 0.35 |
| USD	NRG ENERGY INC 7.25000% 17-15.05.26 | 2 215 000.00 | 2 347 235.50 | 0.26 |
| USD	NUSTAR LOGISTICS LP 4.75000% 12-01.02.22 | 4 140 000.00 | 4 191 750.00 | 0.46 |
| USD	PENSKE AUTOMOTIVE GROUP INC-SUB 5.37500% 14-01.12.24 | 2 000 000.00 | 2 034 710.00 | 0.22 |
| USD	PENSKE AUTOMOTIVE GROUP INC-SUB 3.50000% 20-01.09.25 | 4 475 000.00 | 4 536 620.75 | 0.50 |
| USD	PULTEGROUP INC 5.50000% 16-01.03.26 | 2 910 000.00 | 3 496 728.75 | 0.38 |
| USD	RHP HOTEL PROPERTIES/RHP FINANCE 5.00000% 15-15.04.23 | 3 200 000.00 | 3 184 000.00 | 0.35 |
| USD	SEALED AIR CORP-144A 5.12500% 14-01.12.24 | 3 800 000.00 | 4 165 750.00 | 0.46 |
| USD	SPRINGLEAF FINANCE CORP 7.75000% 13-01.10.21 | 7 905 000.00 | 8 280 487.50 | 0.91 |
| USD	SPRINGLEAF FINANCE CORP 6.12500% 17-15.05.22 | 1 600 000.00 | 1 688 000.00 | 0.19 |
| USD	SPRINGLEAF FINANCE CORP 5.62500% 17-15.03.23 | 4 450 000.00 | 4 728 125.00 | 0.52 |
| USD	SPRINT CORP 7.25000% 14-15.09.21 | 6 950 000.00 | 7 236 687.50 | 0.79 |
| USD	SPRINT CORP 7.87500% 14-15.09.23 | 11 000 000.00 | 12 686 802.70 | 1.39 |
| USD	T-MOBILE USA INC 4.00000% 17-15.04.22 | 4 399 000.00 | 4 536 556.73 | 0.50 |
| USD	TELECOM ITALIA SPA-144A 5.30300% 14-30.05.24 | 5 400 000.00 | 5 868 990.00 | 0.64 |
| USD	TENET HEALTHCARE CORP 4.62500% 17-15.07.24 | 8 535 000.00 | 8 684 362.50 | 0.95 |
| USD	TEVA PHARMACEUTICAL FINANCE CO BV 3.65000% 11-10.11.21 | 7 035 000.00 | 7 032 801.56 | 0.77 |
| USD	TEVA PHARMACEUTICAL FINANCE NL III BV 2.20000% 16-21.07.21 | 2 759 000.00 | 2 749 515.93 | 0.30 |
| USD	TOLL BROTHERS FINANCE CORP 4.37500% 13-15.04.23 | 2 405 000.00 | 2 552 306.25 | 0.28 |
| USD	TRANSDIGM INC-SUB 6.50000% 14-15.07.24 | 4 670 000.00 | 4 740 050.00 | 0.52 |
| USD	VIRGIN AUSTRALIA HOLDINGS LTD-REG-S 7.87500% 16-15.10.21 | 1 926 000.00 | 115 560.00 | 0.01 |
| USD	VIRGIN MEDIA SECURED FINANCE PLC-144A 5.50000% 16-15.08.26 | 8 600 000.00 | 8 997 750.00 | 0.99 |
| USD	WESTERN MIDSTREAM OPERATING LP 5.37500% 11-01.06.21 | 4 157 000.00 | 4 188 177.50 | 0.46 |
| USD	WILLIAMS COMPANIES INC 7.87500% 01-01.09.21 | 1 005 000.00 | 1 059 514.32 | 0.12 |
| USD	WYNDHAM WORLDWIDE CORP 5.62500% 11-01.03.21 | 2 575 000.00 | 2 600 750.00 | 0.29 |
| USD	WYNDHAM WORLDWIDE CORP 3.90000% 13-01.03.23 | 3 692 000.00 | 3 747 380.00 | 0.41 |
| USD	YUZHOU PROPERTIES CO LTD-REG-S 6.37500% 18-06.03.21 | 350 000.00 | 351 813.00 | 0.04 |
| Total USD |  | 338 177 237.88 | 37.11 |
| Total Notes, fixed rate |  | 363 830 415.26 | 39.92 |
| Notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	SYNLAB BONDCO PLC-REG-S 3M EURIBOR+475BP 20-01.07.25 | 4 400 000.00 | 5 358 503.26 | 0.59 |
| Total EUR |  | 5 358 503.26 | 0.59 |

UBS (Lux) Bond SICAV – Short Duration High Yield Sustainable (USD) Semi-Annual Report as of 30 November 2020
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| GBP |  |  |  |  |
| GBP | PREMIER FOODS FINANCE PLC-REG-S 3M LIBOR+500BP 17-15.07.22 | 3 045 856.00 | 4 073 282.87 | 0.44 |
| Total GBP |  |  | 4 073 282.87 | 0.44 |
| USD |  |  |  |  |
| USD | WYNDHAM WORLDWIDE CORP STEP UP/RATING LINKED 17-01.04.24 | 1 525 000.00 | 1 627 937.50 | 0.18 |
| Total USD |  |  | 1 627 937.50 | 0.18 |
| Total Notes, floating rate |  | 11 059 723.63 | 1.21 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	NAVIENT CORP 7.25000% 12-25.01.22 | 2 505 000.00 | 2 636 512.50 | 0.29 |
| Total USD |  | 2 636 512.50 | 0.29 |
| Total Medium term notes, fixed rate |  | 2 636 512.50 | 0.29 |
| Bonds, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	ALTICE FINANCING SA-REG-S 2.25000% 20-15.01.25 | 5 170 000.00 | 5 985 106.48 | 0.66 |
| EUR	ALTICE FRANCE-REG-S 2.12500% 20-15.02.25 | 2 000 000.00 | 2 304 005.60 | 0.25 |
| EUR	VERISURE MIDHOLDING AB-REG-S 5.75000% 17-01.12.23 | 2 690 000.00 | 3 247 703.34 | 0.36 |
| Total EUR |  | 11 536 815.42 | 1.27 |
| GBP |  |  |  |
| GBP	MILLER HOMES GROUP HOLDINGS PLC-REG-S 5.50000% 17-15.10.24 | 3 500 000.00 | 4 789 489.54 | 0.52 |
| Total GBP |  | 4 789 489.54 | 0.52 |
| USD |  |  |  |
| USD	ALLY FINANCIAL INC 4.62500% 15-19.05.22 | 12 550 000.00 | 13 275 762.74 | 1.46 |
| USD	CANPACK SA AND EASTERN PA-144A 3.12500% 20-01.11.25 | 205 000.00 | 208 075.00 | 0.02 |
| USD	HCA INC 5.37500% 15-01.02.25 | 2 925 000.00 | 3 274 625.25 | 0.36 |
| Total USD |  | 16 758 462.99 | 1.84 |
| Total Bonds, fixed rate |  | 33 084 767.95 | 3.63 |
| Bonds, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	PICARD GROUPE SA-REG-S 3M EURIBOR+300BP 17-30.11.23 | 4 575 000.00 | 5 441 782.30 | 0.60 |
| Total EUR |  | 5 441 782.30 | 0.60 |
| Total Bonds, floating rate |  | 5 441 782.30 | 0.60 |
| Treasury notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 0.12500% 20-31.07.22 | 45 000 000.00 | 44 987 695.20 | 4.94 |
| Total USD |  | 44 987 695.20 | 4.94 |
| Total Treasury notes, fixed rate |  | 44 987 695.20 | 4.94 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 461 040 896.84 | 50.59 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Notes, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	ALTICE FRANCE HOLDING SA-REG-S 8.00000% 19-15.05.27 | 2 000 000.00 | 2 579 404.34 | 0.28 |
| Total EUR |  | 2 579 404.34 | 0.28 |
| USD |  |  |  |
| USD	ALBERTSONS COS INC/SAFEWAY INC-144A 3.25000% 20-15.03.26 | 1 945 000.00 | 1 965 111.30 | 0.22 |
| USD	ALBERTSONS COS LLC / SAFEWAY INC-144A 3.50000% 20-15.02.23 | 7 750 000.00 | 7 943 750.00 | 0.87 |
| USD	ALCOA NEDERLAND HOLDING BV-144A 6.75000% 16-30.09.24 | 3 775 000.00 | 3 911 843.75 | 0.43 |
| USD	BEACON ROOFING SUPPLY INC-144A 4.50000% 19-15.11.26 | 4 920 000.00 | 5 122 950.00 | 0.56 |
| USD	BERRY GLOBAL INC-144A 4.87500% 19-15.07.26 | 4 990 000.00 | 5 297 683.40 | 0.58 |
| USD	BOMBARDIER INC-144A 6.12500% 13-15.01.23 | 3 225 000.00 | 3 015 375.00 | 0.33 |
| USD	CALPINE CORP-144A 5.25000% 16-01.06.26 | 3 946 000.00 | 4 088 253.30 | 0.45 |
| USD	CCO HOLDINGS LLC/CAPITAL CORP-144A 5.75000% 15-15.02.26 | 8 700 000.00 | 9 015 375.00 | 0.99 |
| USD	CCO HOLDINGS LLC/CAPITAL CORP-144A 5.50000% 16-01.05.26 | 2 375 000.00 | 2 473 562.50 | 0.27 |
| USD	CENOVUS ENERGY INC 3.00000% 12-15.08.22 | 2 250 000.00 | 2 255 928.30 | 0.25 |
| USD	CENTENE CORP 4.25000% 20-15.12.27 | 13 100 000.00 | 13 844 342.00 | 1.52 |
| USD	CENTENE CORP-144A 5.37500% 18-01.06.26 | 1 150 000.00 | 1 208 937.50 | 0.13 |
| USD	CHENIERE ENERGY PARTNERS LP 5.25000% 18-01.10.25 | 2 480 000.00 | 2 545 100.00 | 0.28 |
| USD	COGENT COMMUNICATIONS GROUP INC-144A 5.37500% 15-01.03.22 | 3 475 000.00 | 3 565 211.00 | 0.39 |
| USD	COMMSCOPE INC-144A 5.50000% 19-01.03.24 | 4 400 000.00 | 4 521 000.00 | 0.50 |
| USD	COTT HOLDINGS INC-144A 5.50000% 17-01.04.25 | 5 115 000.00 | 5 287 631.25 | 0.58 |
| USD	CROWN AMERICAS LLC 4.50000% 13-15.01.23 | 6 500 000.00 | 6 857 500.00 | 0.75 |
| USD	CSC HOLDINGS LLC-144A 5.25000% 14-01.06.24 | 5 260 000.00 | 5 693 950.00 | 0.63 |
| USD	DCP MIDSTREAM OPERATING LP-144A 4.75000% 11-30.09.21 | 2 765 000.00 | 2 803 018.75 | 0.31 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 5.87500% 16-15.06.21 | 4 677 000.00 | 4 686 354.00 | 0.51 |
| USD	DELTA AIR LINES INC / SKYMILES LTD-144A 4.50000% 20-20.10.25 | 815 000.00 | 860 345.37 | 0.09 |
| USD	DELTA AIR LINES INC-144A 7.00000% 20-01.05.25 | 4 050 000.00 | 4 626 917.24 | 0.51 |
| USD	FMG RESOURCES AUGUST 2006 PTY LTD-144A 4.75000% 17-15.05.22 | 2 425 000.00 | 2 486 207.00 | 0.27 |
| USD	GANNETT CO INC-144A 5.50000% 14-15.09.2024 | 1 678 000.00 | 1 711 560.00 | 0.19 |
| USD	GRAY TELEVISION INC-144A 5.87500% 16-15.07.26 | 6 320 000.00 | 6 604 400.00 | 0.73 |
| USD	GREAT LAKES DREDGE & DOCK CORP 8.00000% 17-15.05.22 | 7 750 000.00 | 7 943 750.00 | 0.87 |

UBS (Lux) Bond SICAV – Short Duration High Yield Sustainable (USD)
Semi-Annual Report as of 30 November 2020
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | HANESBRANDS INC-144A 4.62500% 16-15.05.24 | 3 915 000.00 | 4 115 643.75 | 0.45 |
| USD | HANESBRANDS INC-144A 5.37500% 20-15.05.25 | 2 000 000.00 | 2 128 760.00 | 0.23 |
| USD | HD SUPPLY INC-144A 5.37500% 18-15.10.26 | 1 795 000.00 | 1 902 700.00 | 0.21 |
| USD | HILCORP ENERGY I LP/FINANCE CO-144A 5.00000% 14-01.12.24 | 675 000.00 | 658 125.00 | 0.07 |
| USD | ICAHN ENTERPRISES FINANCE CORP 4.75000% 20-15.09.24 | 4 845 000.00 | 4 990 350.00 | 0.55 |
| USD | LADDER CAPITAL FIN HLDG LLLP/CORP-144A 5.87500% 14-01.08.21 | 2 299 000.00 | 2 293 252.50 | 0.25 |
| USD | LADDER CAPITAL FIN HLDG LLLP/CORP-144A 5.25000% 17-15.03.22 | 3 825 000.00 | 3 815 437.50 | 0.42 |
| USD | LAMB WESTON HOLDINGS INC-144A 4.87500% 16-01.11.26 | 6 117 000.00 | 6 361 680.00 | 0.70 |
| USD | LENNAR CORP 5.25000% 18-01.06.26 | 2 365 000.00 | 2 796 612.50 | 0.31 |
| USD | LENNAR CORP 6.25000% 18-15.12.21 | 3 590 000.00 | 3 690 520.00 | 0.41 |
| USD | LIFEPOINT HEALTH INC-144A 6.75000% 20-15.04.25 | 4 235 000.00 | 4 520 862.50 | 0.50 |
| USD | MATTEL INC 3.15000% 13-15.03.23 | 3 473 000.00 | 3 511 706.59 | 0.39 |
| USD | MEG ENERGY CORP-144A 7.00000% 13-31.03.24 | 3 200 000.00 | 3 216 000.00 | 0.35 |
| USD | MERITOR INC 6.25000% 14-15.02.24 | 5 255 000.00 | 5 361 413.75 | 0.59 |
| USD | MERITOR INC-144A 6.25000% 20-01.06.25 | 4 180 000.00 | 4 456 925.00 | 0.49 |
| USD | MGM RESORTS INTL 6.00000% 14-15.03.23 | 4 200 000.00 | 4 493 076.00 | 0.49 |
| USD | MOLINA HEALTHCARE INC-144A 4.87500% 17-15.06.25 | 3 945 000.00 | 4 041 179.10 | 0.44 |
| USD | MUELLER WATER PRODUCTS INC-144A 5.50000% 18-15.06.26 | 4 306 000.00 | 4 467 475.00 | 0.49 |
| USD | NAVIENT CORP 6.62500% 16-26.07.21 | 5 700 000.00 | 5 828 250.00 | 0.64 |
| USD | NAVISTAR INTERNATIONAL CORP-144A 9.50000% 20-01.05.25 | 6 045 000.00 | 6 762 843.75 | 0.74 |
| USD | NETFLIX INC 5.75000% 14-01.03.24 | 1 575 000.00 | 1 771 882.88 | 0.19 |
| USD | NEWELL BRANDS INC 4.87500% 20-01.06.25 | 7 200 000.00 | 7 956 000.00 | 0.87 |
| USD | NIELSEN CO LUXEMBOURG SARL/THE-144A 5.50000% 13-01.10.21 | 466 000.00 | 463 670.00 | 0.05 |
| USD | NIELSEN FINANCE LLC/CO-144A 5.00000% 14-15.04.22 | 5 829 000.00 | 5 829 000.00 | 0.64 |
| USD | NOVA CHEMICALS CORP-144A 5.25000% 13-01.08.23 | 4 095 000.00 | 4 105 237.50 | 0.45 |
| USD | NUSTAR LOGISTICS LP 6.75000% 13-01.02.21 | 4 121 000.00 | 4 127 181.50 | 0.45 |
| USD | OI EUROPEAN GROUP BV-144A 4.00000% 17-15.03.23 | 6 085 000.00 | 6 237 125.00 | 0.68 |
| USD | OWENS-BROCKWAY GLASS CONTAINER INC-144A 5.87500% 15-15.08.23 | 6 715 000.00 | 7 218 625.00 | 0.79 |
| USD | PBF LOGISTICS LP/FINANCE CORP 6.87500% 15-15.05.23 | 2 730 000.00 | 2 617 442.10 | 0.29 |
| USD | PICASSO FINANCE SUB INC -144A 6.12500% 20-15.06.25 | 6 057 000.00 | 6 480 990.00 | 0.71 |
| USD | POST HOLDINGS INC-144A 5.00000% 16-15.08.26 | 8 760 000.00 | 9 088 500.00 | 1.00 |
| USD | PRESTIGE BRANDS INC-144A 6.37500% 16-01.03.24 | 840 000.00 | 860 815.20 | 0.09 |
| USD | SCIENTIFIC GAMES INTERNATIONAL-144A 5.00000% 17-15.10.25 | 5 175 000.00 | 5 323 781.25 | 0.58 |
| USD | SEALED AIR CORP-144A 5.25000% 13-01.04.23 | 2 925 000.00 | 3 110 591.25 | 0.34 |
| USD | SERVICE CORP INTERNATIONAL 8.00000% 09-15.11.21 | 3 620 000.00 | 3 846 575.80 | 0.42 |
| USD | SINCLAIR TELEVISION GROUP INC-144A 5.62500% 14-01.08.24 | 4 250 000.00 | 4 330 325.00 | 0.48 |
| USD | SIRIUS XM RADIO INC-144A 5.37500% 16-15.07.26 | 3 300 000.00 | 3 432 000.00 | 0.38 |
| USD | SIRIUS XM RADIO INC-144A 3.87500% 17-01.08.22 | 6 583 000.00 | 6 681 745.00 | 0.73 |
| USD | SIRIUS XM RADIO INC-144A 4.62500% 19-15.07.24 | 8 355 000.00 | 8 654 777.40 | 0.95 |
| USD | TAYLOR MOR/MOR HOLDINGS II INC-144A 5.62500% 14-01.03.24 | 1 780 000.00 | 1 904 600.00 | 0.21 |
| USD | TEGNA INC-144A 4.75000% 20-15.03.26 | 4 945 000.00 | 5 247 881.25 | 0.58 |
| USD | TENET HEALTHCARE CORP-144A 4.62500% 19-01.09.24 | 3 970 000.00 | 4 105 774.00 | 0.45 |
| USD | TENNANT CO 5.62500% 18-01.05.25 | 3 875 000.00 | 4 020 312.50 | 0.44 |
| USD | TERRAFORM POWER OPERATING LLC-144A 4.25000% 17-31.01.23 | 9 501 000.00 | 9 809 782.50 | 1.08 |
| USD | TRANSDIGM INC-144A 8.00000% 20-15.12.25 | 3 100 000.00 | 3 386 750.00 | 0.37 |
| USD | TRI POINTE HOLDINGS INC 5.87500% 15-15.06.24 | 1 640 000.00 | 1 789 568.00 | 0.20 |
| USD | VALEANT PHARMACEUTICALS INTL-144A 7.00000% 17-15.03.24 | 3 125 000.00 | 3 220 312.50 | 0.35 |
| USD | VALEANT PHARMACEUTICALS INTL-144A 9.00000% 17-15.12.25 | 8 125 000.00 | 8 926 937.50 | 0.98 |
| USD | VALVOLINE INC 4.37500% 17-15.08.25 | 3 469 000.00 | 3 586 286.89 | 0.39 |
| USD | VIDEOTRON LTD-144A 5.37500% 14-15.06.24 | 6 125 000.00 | 6 800 036.25 | 0.75 |
| USD | VIDEOTRON LTEE 5.00000% 12-15.07.22 | 4 000 000.00 | 4 205 000.00 | 0.46 |
| USD | VIRGIN AUSTRALIA HOLDINGS LTD-144A 7.87500% 16-15.10.21 | 95 000.00 | 7 006.25 | 0.00 |
| USD | VISTRA OPERATIONS CO LLC-144A 5.50000% 18-01.09.26 | 6 235 000.00 | 6 523 992.25 | 0.72 |
| USD | WILLIAM CARTER CO-144A 5.50000% 20-15.05.25 | 2 000 000.00 | 2 120 000.00 | 0.23 |
| USD | WR GRACE & CO-CONN-144A 5.62500% 14-01.10.24 | 1 300 000.00 | 1 400 750.00 | 0.15 |
| USD | WW INTERNATIONAL INC-144A 8.62500% 17-01.12.25 | 2 925 000.00 | 3 052 530.00 | 0.34 |
| Total USD |  |  | 361 992 654.37 | 39.72 |
| Total Notes, fixed rate |  | 364 572 058.71 | 40.00 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	CONTINENTAL RESOURCES INC 4.50000% 13-15.04.23 | 4 500 000.00 | 4 612 500.00 | 0.51 |
| Total USD |  | 4 612 500.00 | 0.51 |
| Total Bonds, fixed rate |  | 4 612 500.00 | 0.51 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 369 184 558.71 | 40.51 |

Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market
Notes, fixed rate
| USD |  |
| --- | --- |
| USD | ARDAGH PACKAGING FINANCE PLC-144A 5.25000% 20-30.04.25 | 4 200 000.00 | 4 440 975.00 | 0.49 |
| USD | CASCADES INC/CASCADES USA INC-144A 5.12500% 19-15.01.26 | 3 075 000.00 | 3 255 656.25 | 0.36 |
| USD | CDW LLC/CDW FINANCE CORP 4.12500% 20-01.05.25 | 4 845 000.00 | 5 026 687.50 | 0.55 |
| USD | COMMERCIAL METALS CO 5.75000% 19-15.04.26 | 2 055 000.00 | 2 137 200.00 | 0.23 |
| USD | IHS MARKIT LTD-144A 5.00000% 16-01.11.22 | 1 500 000.00 | 1 609 059.00 | 0.17 |
| USD | INTELSAT JACKSON HOLDINGS SA-144A 9.50000% 16-30.09.22 | 3 275 000.00 | 3 616 320.50 | 0.40 |
| USD | SERVICE PROPERTIES TRUST 7.50000% 20-15.09.25 | 2 100 000.00 | 2 349 444.30 | 0.26 |
| Total USD |  |  | 22 435 342.55 | 2.46 |
| Total Notes, fixed rate | 22 435 342.55 | 2.46 |
| Total Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market | 22 435 342.55 | 2.46 |

UBS (Lux) Bond SICAV – Short Duration High Yield Sustainable (USD) Semi-Annual Report as of 30 November 2020
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Recently issued transferable securities and money market instruments |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	JAGUAR HOLDINGS/PHARMA PROD DEV-144A 4.62500% 20-15.06.25 | 4 380 000.00 | 4 577 100.00 | 0.50 |
| USD	PERFORMANCE FOOD GROUP INC-144A 6.87500% 20-01.05.25 | 2 905 000.00 | 3 122 875.00 | 0.34 |
| USD	VICI PROPERTIES LP /VCI NTE CO INC-144A 3.50000% 20-15.02.25 | 5 215 000.00 | 5 319 300.00 | 0.59 |
| Total USD |  | 13 019 275.00 | 1.43 |
| Total Notes, fixed rate | 13 019 275.00 | 1.43 |
| Total Recently issued transferable securities and money market instruments | 13 019 275.00 | 1.43 |
| Derivative instruments not listed on an official stock exchange and not traded on another regulated market |  |  |
| Options on other swaps, classic-styled |  |  |
| USD |  |  |
| USD	JPM/CDX.NA.HY.35 SWAPTION PUT 102.00000 21-20.01.21	-35 400 000.00 | -78 580.92 | -0.01 |
| USD	JPM/CDX.NA.HY.35 SWAPTION PUT 104.00000 21-20.01.21	-35 400 000.00 | -106 975.26 | -0.01 |
| Total USD | -185 556.18 | -0.02 |
| Total Options on other swaps, classic-styled | -185 556.18 | -0.02 |
| Total Derivative instruments not listed on an official stock exchange and not traded on another regulated market | -185 556.18 | -0.02 |
| Total investments in securities | 865 494 516.92 | 94.97 |

| Derivative instruments |  |
| --- | --- |
| Derivative instruments not listed on an official stock exchange and not traded on another regulated market |
| Credit default swaps* |
|  |  |  |
| USD	ICE/CDX.NA.HY.34 CDI REC 5.00000% 20-20.06.25	53 360 000.00 | 5 224 483.53 | 0.57 |
| Total Credit default swaps | 5 224 483.53 | 0.57 |
| Total Derivative instruments not listed on an official stock exchange and not traded on another regulated market | 5 224 483.53 | 0.57 |
| Total Derivative instruments | 5 224 483.53 | 0.57 |
| Forward Foreign Exchange contracts |  |  |
| Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date |  |  |

| USD | 10 616 025.88 | GBP | 8 020 000.00 | 14.1.2021 | -98 133.91 | -0.01 |
| --- | --- | --- | --- | --- | --- | --- |
| CHF | 69 399 200.00 | USD | 76 351 072.00 | 14.1.2021 | 440 281.18 | 0.05 |
| USD | 51 846 349.38 | EUR | 43 625 000.00 | 14.1.2021 | -411 558.43 | -0.05 |
| EUR | 495 591 700.00 | USD | 588 988 433.82 | 14.1.2021 | 4 675 414.23 | 0.51 |
| USD | 834 688.32 | CHF | 761 800.00 | 14.1.2021 | -8 255.88 | 0.00 |
| Total Forward Foreign Exchange contracts | 4 597 747.19 | 0.50 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 23 292 769.27 | 2.56 |
| Bank overdraft and other short-term liabilities | -1 321.50 | 0.00 |
| Other assets and liabilities | 12 728 731.60 | 1.40 |
| Total net assets | 911 336 927.01 | 100.00 |
| * Positive nominal: the subfund is “Receiver”, negative nominal: the subfund is “Payer”. |  |  |

UBS (Lux) Bond SICAV – Short Duration High Yield Sustainable (USD)
Semi-Annual Report as of 30 November 2020

Translation (ENFR, 2020-11-30):
# UBS (Lux) Bond SICAV
– Asian Investment Grade Bonds (USD)
| Données principales |  |
| --- | --- |
|  | ISIN | 30.11.2020 | 31.5.2020 | 31.5.2019 |
| Actif net en USD |  | 62 062 816.61 | 71 802 087.51 | 44 893 595.89 |
| Catégorie I-B-acc | LU1377678567 |  |  |  |
| Actions en circulation |  | 103 389.0000 | 173 273.0000 | 20 000.0000 |
| Valeur nette d’inventaire par action en USD |  | 128.31 | 121.44 | 112.65 |
| Prix d’émission et de rachat par action en USD 1 |  | 128.31 | 121.44 | 112.65 |
| Catégorie U-X-acc | LU1377216947 |  |  |  |
| Actions en circulation |  | 3 791.0000 | 4 168.0000 | 3 777.0000 |
| Valeur nette d’inventaire par action en USD |  | 12 871.78 | 12 178.50 | 11 289.55 |
| Prix d’émission et de rachat par action en USD 1 |  | 12 871.78 | 12 178.50 | 11 289.55 |
| 1  Voir note 1 |  |  |  |  |


## Structure du portefeuille-titres
Répartition géographique en % de l’actif net	
| Hong Kong | 16.32 |
| --- | --- |
| Philippines | 12.74 |
| Iles Caïmans | 8.73 |
| Indonésie | 8.67 |
| Chine | 8.46 |
| Îles Vierges britanniques | 7.41 |
| Singapour | 6.91 |
| Inde | 4.87 |
| Corée du Sud | 3.51 |
| Thaïlande | 2.85 |
| France | 2.81 |
| Ile Maurice | 1.16 |
| Malaisie | 0.70 |
| Macao | 0.49 |
| Mexique | 0.34 |
| Etats-Unis | 0.34 |
| Total | 86.31 |

Répartition économique en % de l’actif net	
| Etablissements financiers et sociétés de participation | 23.95 |
| --- | --- |
| Banques & instituts de crédit | 13.10 |
| Gouvernements nationaux et centraux | 12.37 |
| Distribution d’énergie & d’eau | 7.09 |
| Immobilier | 6.07 |
| Pétrole | 4.29 |
| Télécommunications | 4.12 |
| Services divers | 2.54 |
| Chimie | 2.35 |
| Internet, logiciels et services informatiques | 2.20 |
| Emetteurs d’obligations sécurisées (Pfandbriefe) et |  |
| sociétés de refinancement | 1.99 |
| Trafic et transport | 1.20 |
| Diverses sociétés commerciales | 1.02 |
| Industrie graphique, édition et médias | 0.99 |
| Industrie minière, charbon et acier | 0.75 |
| Appareils et composants électriques | 0.66 |
| Fonds de placement | 0.50 |
| Electronique et semi-conducteurs | 0.43 |
| Villes, communes | 0.36 |
| Diverses sociétés non classées | 0.33 |
| Total | 86.31 |

UBS (Lux) Bond SICAV – Asian Investment Grade Bonds (USD)
Rapport semestriel au 30 novembre 2020

## Etat des actifs nets
Actif	30.11.2020
USD
Portefeuille-titres, cours d’achat	51 179 065.75
| Portefeuille-titres, plus-/(moins)-value non réalisée | 	2 385 490.99	 |
| --- | --- |
| Total du Portefeuille-titres (note 1) | 53 564 556.74 |
| Avoirs en banque, dépôts à vue et à terme | 7 241 612.06 |
| Autres liquidités (marges) | 64 925.14 |
| Créances sur souscriptions | 666 951.17 |
| Intérêts à recevoir sur titres | 519 204.15 |
| Autres créances | 21 185.18 |
| Total de l’Actif | 62 078 434.44 |
|  |  |
| Passif |  |
| Perte non réalisé(e) sur contrats financiers à terme (note 1) | -11 210.97 |
| Provisions pour commission de gestion forfaitaire (note 2) | -349.76 |
| Provisions pour taxe d’abonnement (note 3) | -1 028.76 |
| Provisions pour autres commissions et frais (note 2) | 	-3 028.34	 |
| Total des Provisions pour frais | -4 406.86 |
| Total du Passif | -15 617.83 |
|  |  |
| Actif net à la fin de la période | 62 062 816.61 |
| Etat des opérations | USD |
| Revenus | 1.6.2020-30.11.2020 |
| Intérêts sur titres | 1 066 622.99 |
| Revenus sur prêts de titres (note 12) | 4 937.92 |
| Autres revenus (note 4) | 106 299.09 |
| Total des Revenus | 1 177 860.00 |
|  |  |
| Charges |  |
| Commission de gestion forfaitaire (note 2) | -5 170.48 |
| Taxe d’abonnement (note 3) | -3 180.21 |
| Frais sur prêts de titres (note 12) | -1 975.17 |
| Autres commissions et frais (note 2) | -2 989.54 |
| Charges d’intérêts sur liquidités et crédit en compte courant | -289.74 |
| Total des Charges | -13 605.14 |
|  |  |
| Revenus/pertes net(te)s de placements | 1 164 254.86 |
|  |  |
| Bénéfices/(pertes) réalisé(e)s (note 1) |  |
| Bénéfice/(perte) réalisé(e) sur titres évalués à la valeur de marché hors options | 1 669 431.38 |
| Bénéfice/(perte) réalisé(e) sur instruments du marché monétaire et titres évalués en fonction des rendements | -1 492.29 |
| Bénéfice/perte réalisé(e) sur contrats financiers à terme | 117 857.83 |
| Bénéfice/(perte) de change réalisé(e) | 1 159.54 |
| Total des Bénéfices/(pertes) réalisé(e)s | 1 786 956.46 |
|  |  |
| Bénéfice/(perte) net(te) réalisé(e) au cours de la période | 2 951 211.32 |
|  |  |
| 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 | 803 089.27 |
| Plus-/(moins)-value non réalisée sur instruments du marché monétaire et titres évalués en fonction des rendements | 1 938.00 |
| Plus-/(moins)-value non réalisée sur contrats financiers à terme | -29 687.59 |
| Total des Fluctuations de la plus-/(moins)-value non réalisée | 775 339.68 |
|  |  |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | 3 726 551.00 |

UBS (Lux) Bond SICAV – Asian Investment Grade Bonds (USD) Rapport semestriel au 30 novembre 2020
| Fluctuations de l’actif net |  |
| --- | --- |
|  | USD |
|  | 1.6.2020-30.11.2020 |
| Actif net au début de la période | 71 802 087.51 |
| Souscriptions | 12 421 086.76 |
| Rachats | 	-25 886 908.66	 |
| Total des Entrées/(sorties) de capitaux | -13 465 821.90 |
| Revenus/pertes net(te)s de placements | 1 164 254.86 |
| Total des Bénéfices/(pertes) réalisé(e)s | 1 786 956.46 |
| Total des Fluctuations de la plus-/(moins)-value non réalisée | 	775 339.68	 |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | 3 726 551.00 |
| Actif net à la fin de la période | 62 062 816.61 |
| Evolution des actions en circulation |  |
|  | 1.6.2020-30.11.2020 |
| Catégorie | I-B-acc |
| Nombre d’actions en circulation au début de la période | 173 273.0000 |
| Nombre d’actions émises | 41 122.0000 |
| Nombre d’actions rachetées | -111 006.0000 |
| Nombre d’actions en circulation à la fin de la période | 103 389.0000 |
| Catégorie | U-X-acc |
| Nombre d’actions en circulation au début de la période | 4 168.0000 |
| Nombre d’actions émises | 576.0000 |
| Nombre d’actions rachetées | -953.0000 |
| Nombre d’actions en circulation à la fin de la période | 3 791.0000 |

UBS (Lux) Bond SICAV – Asian Investment Grade Bonds (USD)
Rapport semestriel au 30 novembre 2020

## Etat du portefeuille-titres et autres actifs nets au 30 novembre 2020
| 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 |  |  |  |
| USD |  |  |  |
| USD	BAIDU INC 3.07500% 20-07.04.25 | 250 000.00 | 265 504.73 | 0.43 |
| USD	BHARTI AIRTEL LTD-REG-S 4.37500% 15-10.06.25 | 1 236 000.00 | 1 337 197.50 | 2.15 |
| USD	CHINA HUANENG GP HK TREASURY MGT-REG-S 2.60000% 19-10.12.24 | 200 000.00 | 207 625.00 | 0.33 |
| USD	CK HUTCHISON INTERNATIONAL 16 LTD-REG-S 2.75000% 16-03.10.26 | 400 000.00 | 431 500.00 | 0.69 |
| USD	CNAC HK FINBRIDGE CO LTD-REG-S 5.12500% 18-14.03.28 | 350 000.00 | 381 390.62 | 0.61 |
| USD	CNAC HK FINBRIDGE CO LTD-REG-S 3.87500% 19-19.06.29 | 350 000.00 | 355 906.25 | 0.57 |
| USD	CNPC GENERAL CAPITAL LTD-REG-S 3.40000% 13-16.04.23 | 200 000.00 | 210 187.50 | 0.34 |
| USD	ENN ENERGY HOLDINGS LTD-REG-S 2.62500% 20-17.09.30 | 700 000.00 | 704 593.75 | 1.14 |
| USD	EXPORT-IMPORT BANK OF CHINA-REG-S 2.87500% 16-26.04.26 | 200 000.00 | 217 875.00 | 0.35 |
| USD	HPHT FINANCE 19 LTD-REG-S 2.87500% 19-05.11.24 | 250 000.00 | 260 072.50 | 0.42 |
| USD	HUTCHINSON WHAMPOA INTL 11 LTSD-REG-S 4.62500% 12-13.01.22 | 500 000.00 | 520 643.40 | 0.84 |
| USD	HUTCHISON WHAMPOA INTL 12 II LTD-REG-S 3.25000% 12-08.11.22 | 550 000.00 | 575 228.50 | 0.93 |
| USD	HYUNDAI CAPITAL AMERICA-REG-S 3.00000% 20-10.02.27 | 200 000.00 | 211 362.54 | 0.34 |
| USD	INDONESIA, REPUBLIC OF-REG-S 5.25000% 12-17.01.42 | 200 000.00 | 261 875.00 | 0.42 |
| USD	KOREA HYDRO&NUCLEAR POWER CO LTD-REG-S 3.00000% 12-19.09.22 | 250 000.00 | 260 546.87 | 0.42 |
| USD	LLPL CAPITAL PTE LTD-REG-S 6.87500% 19-04.02.39 | 200 000.00 | 218 787.00 | 0.35 |
| USD	ONGC VIDESH VANKORNEFT PTE LTD-REG-S 3.75000% 16-27.07.26 | 200 000.00 | 214 812.50 | 0.35 |
| USD	PHILIPPINES, REPUBLIC OF THE 5.50000% 11-30.03.26 | 1 500 000.00 | 1 863 750.00 | 3.00 |
| USD	PHILIPPINES, REPUBLIC OF THE 2.45700% 20-05.05.30 | 400 000.00 | 432 000.00 | 0.70 |
| USD	PLDT INC-REG-S 2.50000% 20-23.01.31 | 450 000.00 | 466 312.50 | 0.75 |
| USD	POWER SECTOR ASST & LIAB MGT CORP-REG-S 7.39000% 09-02.12.24 | 1 000 000.00 | 1 254 062.50 | 2.02 |
| USD	REC LTD-REG-S 3.50000% 19-12.12.24 | 200 000.00 | 208 312.50 | 0.34 |
| USD	SHIMAO PROPERTY HOLDINGS LTD-REG-S 4.60000% 20-13.07.30 | 300 000.00 | 321 000.00 | 0.52 |
| USD	SINOPEC GROUP OVERSEAS DEVELOPMNT-REG-S 3.25000% 15-28.04.25 | 200 000.00 | 214 812.50 | 0.35 |
| Total USD |  | 11 395 358.66 | 18.36 |
| Total des Billets, taux fixe |  | 11 395 358.66 | 18.36 |
| Billets, taux variable |  |  |  |
| USD |  |  |  |
| USD	CHINA DEV BANK FIN LEASING-REG-S-SUB 2.875%/VAR 20-28.09.30 | 1 025 000.00 | 1 034 630.39 | 1.67 |
| USD	IND & COM BK CHINA MACAU-REG-S-SUB 2.875%/VAR 19-12.09.29 | 300 000.00 | 306 031.05 | 0.49 |
| Total USD |  | 1 340 661.44 | 2.16 |
| Total des Billets, taux variable |  | 1 340 661.44 | 2.16 |
| Medium-Term Notes, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AIRPORT AUTHORITY HONG KONG-REG-S 3.45000% 19-21.02.29 | 200 000.00 | 224 540.92 | 0.36 |
| USD	BANK OF CHINA LTD/PARIS 0.95000% 20-21.09.23 | 1 750 000.00 | 1 745 284.27 | 2.81 |
| USD	BANK OF CHINA/HONG KONG-REG-S 3.62500% 19-17.04.29 | 200 000.00 | 222 687.50 | 0.36 |
| USD	BANK OF EAST ASIA LTD-REG-S-SUB 4.00000% 20-29.05.30 | 900 000.00 | 932 805.00 | 1.50 |
| USD	BDO UNIBANK INC-REG-S 2.12500% 20-13.01.26 | 1 250 000.00 | 1 268 750.00 | 2.04 |
| USD	BOC AVIATION LTD-REG-S 3.50000% 19-10.10.24 | 200 000.00 | 211 490.00 | 0.34 |
| USD	BOCOM LEASING MGT HONG KONG-REG-S 4.37500% 19-22.01.24 | 500 000.00 | 535 937.50 | 0.86 |
| USD	CASTLE PEAK POWER FINANCE CO LTD-REG-S 2.20000% 20-22.06.30 | 450 000.00 | 456 403.14 | 0.74 |
| USD	CITIC LTD-REG-S 4.00000% 18-11.01.28 | 500 000.00 | 551 562.50 | 0.89 |
| USD	CLP POWER HONG KONG FINANCING LTD-REG-S 2.12500% 20-30.06.30 | 975 000.00 | 985 966.70 | 1.59 |
| USD	CMB INTERNATIONAL LEASING MGT LTD-REG-S 2.75000% 20-12.08.30 | 875 000.00 | 853 651.75 | 1.38 |
| USD	EXPORT IMPORT BANK OF THAILAND-REG-S 1.45700% 20-15.10.25 | 400 000.00 | 401 526.68 | 0.65 |
| USD	HUARONG FINANCE-REG-S 3.75000% 19-29.05.24 | 1 250 000.00 | 1 308 593.75 | 2.11 |
| USD	ICBCIL FINANCE CO LTD-REG-S 3.62500% 16-19.05.26 | 250 000.00 | 273 125.00 | 0.44 |
| USD	INDONESIA, REPUBLIC OF-REG-S 3.85000% 17-18.07.27 | 1 800 000.00 | 2 054 812.50 | 3.31 |
| USD	INDONESIA, REPUBLIC OF-REG-S 4.75000% 17-18.07.47 | 350 000.00 | 443 843.75 | 0.71 |
| USD	INDUSTRIAL COMMERCIAL BANK CHINA-REG-S 1.20000% 20-09.09.25 | 625 000.00 | 615 385.81 | 0.99 |
| USD	MTR CORP LTD-REG-S 1.62500% 20-19.08.30 | 750 000.00 | 742 619.98 | 1.20 |
| USD	NAN FUNG TREASURY LTD-REG-S 3.87500% 17-03.10.27 | 1 000 000.00 | 1 032 800.00 | 1.66 |
| USD	NAN FUNG TREASURY LTD-REG-S 5.00000% 18-05.09.28 | 1 000 000.00 | 1 105 789.40 | 1.78 |
| USD	OVERSEA-CHINESE BANKING CORP-REG-S-SUB 4.25000% 14-19.06.24 | 200 000.00 | 218 812.50 | 0.35 |
| USD	PERTAMINA PT-REG-S 6.50000% 18-07.11.48 | 325 000.00 | 456 218.75 | 0.73 |
| USD	PERUSAHAAN LISTRIK NEGARA PT-REG-S 4.37500% 19-05.02.50 | 525 000.00 | 567 820.31 | 0.91 |
| USD	PETRONAS CAPITAL LTD-REG-S 4.55000% 20-21.04.50 | 325 000.00 | 435 804.69 | 0.70 |
| USD	PSA TREASURY PTE LTD-REG-S 2.12500% 19-05.09.29 | 300 000.00 | 311 439.00 | 0.50 |
| USD	PTT TREASURY CENTER CO LTD-REG-S 4.50000% 19-25.10.42 | 553 000.00 | 635 085.93 | 1.02 |
| USD	SHINHAN FIN GROUP CO LTD-REG-S 1.35000% 20-10.01.26 | 925 000.00 | 934 347.59 | 1.51 |
| USD	SIAM COMMERCIAL BK CAYMAN ISLAND-REG-S 2.75000% 17-16.05.23 | 525 000.00 | 545 671.87 | 0.88 |
| USD	SIAM COMMERCIAL BK CAYMAN ISLAND-REG-S 4.40000% 19-11.02.29 | 375 000.00 | 433 710.94 | 0.70 |
| USD	SINGTEL GROUP TREASURY PTE LTD-REG-S 3.25000% 15-30.06.25 | 200 000.00 | 219 840.90 | 0.35 |
| USD	SINGTEL GROUP TREASURY PTE LTD-REG-S 3.87500% 18-28.08.28 | 350 000.00 | 407 479.59 | 0.66 |
| USD	SP POWERASSETS LTD-REG-S 3.25000% 15-24.11.25 | 200 000.00 | 222 168.00 | 0.36 |
| USD	STATE GRID OVERSEAS INVESTMENT-REG-S 3.50000% 17-04.05.27 | 500 000.00 | 556 250.00 | 0.90 |
| USD	SUN HUNG KAI PROP CAP MRKT LTD-REG-S 2.87500% 20-21.01.30 | 2 000 000.00 | 2 108 401.40 | 3.40 |
| USD	SUN HUNG KAI PROPERTIES LTD-REG-S 4.50000% 12-14.02.22 | 200 000.00 | 207 750.00 | 0.33 |
| USD	TEMASEK FINANCIAL I LTD-REG-S 2.50000% 20-06.10.70 | 1 000 000.00 | 1 002 530.00 | 1.62 |
| USD	TENCENT HOLDINDS LTD-REG-S 3.80000% 15-11.02.25 | 1 000 000.00 | 1 096 562.50 | 1.77 |
| USD	TENCENT HOLDINGS LTD-REG-S 3.92500% 18-19.01.38 | 200 000.00 | 227 500.00 | 0.37 |
| USD	TENCENT HOLDINGS LTD-REG-S 2.39000% 20-03.06.30 | 375 000.00 | 384 609.38 | 0.62 |
| USD	THAIOIL TREASURY CENTER CO LTD-REG-S 3.75000% 20-18.06.50 | 725 000.00 | 730 531.75 | 1.18 |
| Total USD |  | 27 670 111.25 | 44.58 |
| Total des Medium-Term Notes, taux fixe |  | 27 670 111.25 | 44.58 |

UBS (Lux) Bond SICAV – Asian Investment Grade Bonds (USD) Rapport semestriel au 30 novembre 2020
| 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) |  |

Medium-Term Notes, taux variable
| USD |  |
| --- | --- |
| USD | DBS GROUP HOLDINGS LTD-REG-S-SUB 4.520%/VAR 18-11.12.28 | 200 000.00 | 217 760.00 | 0.35 |
| USD | SHINHAN FIN GROUP CO LTD-REG-S-SUB 3.340%/VAR 19-05.02.30 | 525 000.00 | 553 218.75 | 0.89 |
| USD | UNITED OVERSEAS BANK LTD-REG-S-SUB 3.750%/VAR 19-15.04.29 | 400 000.00 | 426 656.00 | 0.69 |
| USD | WING LUNG BANK LTD-REG-S-SUB 3.750%/H15T5Y+175BP 17-22.11.27 | 200 000.00 | 204 390.86 | 0.33 |
| Total USD |  |  | 1 402 025.61 | 2.26 |
| Total des Medium-Term Notes, taux variable |  | 1 402 025.61 | 2.26 |
| Obligations, taux fixe |  |  |  |
| USD |  |  |  |
| USD	BANK RAKYAT INDONESIA-REG-S 3.95000% 19-28.03.24 | 200 000.00 | 213 437.50 | 0.34 |
| USD	BLUESTAR FINANCE HOLDINGS LTD-REG-S 3.50000% 16-30.09.21 | 200 000.00 | 201 687.50 | 0.33 |
| USD	CHINA CLEAN ENERGY DEVELOPMENT-REG-S 4.00000% 15-05.11.25 | 200 000.00 | 220 375.00 | 0.36 |
| USD	CHINA HUADIAN OVERSEAS DEVP18 LTD-REG-S 3.87500% 18-17.05.23 | 250 000.00 | 264 822.50 | 0.43 |
| USD	CMHI FINANCE BVI CO LTD-REG-S 5.00000% 18-06.08.28 | 250 000.00 | 292 109.38 | 0.47 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 5.62500% 20-14.01.30 | 650 000.00 | 712 968.75 | 1.15 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 4.80000% 20-06.08.30 | 225 000.00 | 239 625.00 | 0.39 |
| USD	HINDUSTAN PETROLEUM CORP LTD-REG-S 4.00000% 17-12.07.27 | 220 000.00 | 231 825.00 | 0.37 |
| USD	HKT CAPITAL NO 5 LTD-REG-S 3.25000% 19-30.09.29 | 700 000.00 | 753 183.55 | 1.21 |
| USD	LONGFOR PROPERTIES CO LTD-REG-S 4.50000% 18-16.01.28 | 350 000.00 | 387 734.38 | 0.62 |
| USD	MINERA Y METALURGICA DEL BOLEO-REG-S 3.25000% 19-17.04.24 | 200 000.00 | 212 562.50 | 0.34 |
| USD	NONGHYUP BANK-REG-S 2.87500% 17-17.07.22 | 200 000.00 | 207 312.50 | 0.33 |
| USD	NWD MTN LTD-REG-S 4.12500% 19-18.07.29 | 525 000.00 | 543 890.60 | 0.88 |
| USD	OIL INDIA LTD-REG-S 5.12500% 19-04.02.29 | 908 000.00 | 1 026 323.75 | 1.65 |
| USD	PERUSAHAAN PENERBIT SBSN-REG-S 4.15000% 17-29.03.27 | 225 000.00 | 257 484.37 | 0.41 |
| USD	PERUSAHAAN PENERBIT SBSN-REG-S 3.80000% 20-23.06.50 | 650 000.00 | 718 859.38 | 1.16 |
| USD	PHILIPPINES, REPUBLIC OF THE 3.70000% 16-01.03.41 | 2 250 000.00 | 2 622 656.25 | 4.23 |
| USD	POWER FINANCE CORP LTD-REG-S 4.50000% 19-18.06.29 | 200 000.00 | 217 812.50 | 0.35 |
| USD	STAR ENERGY GEOTHERMAL DARAJAT II-REG-S 4.85000% 20-14.10.38 | 375 000.00 | 407 929.69 | 0.66 |
| USD	UPL CORP LTD-REG-S 4.62500% 20-16.06.30 | 675 000.00 | 721 195.31 | 1.16 |
| USD	WOORI BANK-REG-S-SUB 4.75000% 14-30.04.24 | 200 000.00 | 221 875.00 | 0.36 |
| Total USD |  | 10 675 670.41 | 17.20 |
| Total des Obligations, taux fixe |  | 10 675 670.41 | 17.20 |
| Obligations, taux variable |  |  |  |
| USD |  |  |  |
| USD	CHINA CONSTRUCTION BK CORP-REG-S-SUB 2.450%/VAR 20-24.06.30 | 275 000.00 | 278 437.50 | 0.45 |
| USD	CHINA MINMETALS CORP-REG-S 3.750%/VAR 17-PRP | 250 000.00 | 253 046.87 | 0.41 |
| Total USD |  | 531 484.37 | 0.86 |
| Total des Obligations, taux variable |  | 531 484.37 | 0.86 |
| Total des Titres et instruments du marché monétaire négociés sur une bourse officielle |  | 53 015 311.74 | 85.42 |
| Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  |  |  |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	ALIBABA GROUP HOLDING LTD 3.60000% 15-28.11.24 | 500 000.00 | 549 245.00 | 0.89 |
| Total USD |  | 549 245.00 | 0.89 |
| Total des Billets, taux fixe |  | 549 245.00 | 0.89 |
| Total des Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  | 549 245.00 | 0.89 |
| Total du Portefeuille-titres |  | 53 564 556.74 | 86.31 |

| Instruments dérivés |  |
| --- | --- |
| Instruments dérivés négociés sur une bourse officielle |
| Contrats financiers à terme sur obligations |
|  |  |  |  |
| USD	US 2YR TREASURY NOTE FUTURE 31.03.21 | 55.00 | 5 585.91 | 0.01 |
| USD	US 5YR TREASURY NOTE FUTURE 31.03.21 | -37.00 | -7 515.63 | -0.01 |
| USD	US 10YR TREASURY NOTE FUTURE 22.03.21 | -22.00 | -9 281.25 | -0.02 |
| Total des Contrats financiers à terme sur obligations |  | -11 210.97 | -0.02 |
| Total des Instruments dérivés négociés sur une bourse officielle |  | -11 210.97 | -0.02 |
| Total des Instruments dérivés |  | -11 210.97 | -0.02 |
|  |  |  |  |
| Avoirs en banque, dépôts à vue et à terme et autres liquidités |  | 7 306 537.20 | 11.77 |
| Autres actifs et passifs |  | 1 202 933.64 | 1.94 |
| Total de l’Actif net |  | 62 062 816.61 | 100.00 |

UBS (Lux) Bond SICAV – Asian Investment Grade Bonds (USD)
Rapport semestriel au 30 novembre 2020