# UBS (Lux) Equity Fund – Mid Caps Europe (EUR)
| Most important figures |  |
| --- | --- |
|  | ISIN | 31.5.2021 | 30.11.2020 | 30.11.2019 |
| Net assets in EUR |  | 233 569 797.57 | 182 432 778.67 | 177 064 827.19 |
| Class I-B-acc | LU0403311318 |  |  |  |
| Units outstanding |  | 367 754.0540 | 367 754.0540 | 367 754.0540 |
| Net asset value per unit in EUR |  | 365.79 | 304.44 | 275.61 |
| Issue and redemption price per unit in EUR 1 |  | 365.64 | 304.44 | 275.61 |
| Class P-acc | LU0049842692 |  |  |  |
| Units outstanding |  | 40 882.5980 | 38 340.1100 | 44 137.9230 |
| Net asset value per unit in EUR |  | 1 572.45 | 1 321.17 | 1 219.01 |
| Issue and redemption price per unit in EUR 1 |  | 1 571.82 | 1 321.17 | 1 219.01 |
| Class Q-acc | LU0403310344 |  |  |  |
| Units outstanding |  | 144 057.2470 | 98 188.2550 | 118 664.6360 |
| Net asset value per unit in EUR |  | 241.33 | 201.86 | 184.58 |
| Issue and redemption price per unit in EUR 1 |  | 241.23 | 201.86 | 184.58 |
| 1  See note 1 |  |  |  |  |


## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
United Kingdom	28.25
France	11.60
Germany	11.57
Switzerland	9.25
Sweden	6.28
Ireland	6.19
Italy	4.23
Denmark	3.24
The Netherlands	3.00
Luxembourg	2.90
Finland	2.83
Portugal	1.54
Austria	1.47
Norway	1.42
Spain	1.41
Faroe Islands	0.91
Belgium	0.32
Total	96.41
Economic Breakdown as a % of net assets	
Mechanical engineering & industrial equipment	10.23
Building industry & materials	9.40
Chemicals	6.41
Telecommunications	5.73
Banks & credit institutions	5.57
Finance & holding companies	5.47
Petroleum	5.30
Pharmaceuticals, cosmetics & medical products	5.08
Internet, software & IT services	3.78
Insurance	3.35
Forestry, paper & pulp products	3.33
Graphic design, publishing & media	3.17
Textiles, garments & leather goods	3.10
Mining, coal & steel	2.33
Retail trade, department stores	2.33
Agriculture & fishery	2.32
Real Estate	2.32
Healthcare & social services	2.04
Computer hardware & network equipment providers	1.84
Miscellaneous unclassified companies	1.74
Biotechnology	1.69
Investment funds	1.61
Electrical devices & components	1.52
Vehicles	1.41
Food & soft drinks	1.33
Mortgage & funding institutions	1.33
Miscellaneous services	0.92
Electronics & semiconductors	0.66
Lodging, catering & leisure	0.57
Energy & water supply	0.53
Total	96.41
UBS (Lux) Equity Fund – Mid Caps Europe (EUR) Semi-Annual Report as of 31 May 2021

## Statement of Net Assets
Assets	31.5.2021
EUR
Investments in securities, cost	158 346 920.61
| Investments in securities, unrealized appreciation (depreciation) | 	66 843 885.29	 |
| --- | --- |
| Total investments in securities (Note 1) | 225 190 805.90 |
| Cash at banks, deposits on demand and deposit accounts | 7 996 523.27 |
| Receivable on subscriptions | 247 961.82 |
| Interest receivable on liquid assets | 1 512.19 |
| Receivable on dividends | 181 792.97 |
| Other receivables | 204 123.19 |
| Total Assets | 233 822 719.34 |
|  |  |
| Liabilities |  |
| Payable on redemptions | -37 225.81 |
| Provisions for flat fee (Note 2) | -199 851.22 |
| Provisions for taxe d’abonnement (Note 3) | -10 553.91 |
| Provisions for other commissions and fees (Note 2) | 	-5 290.83	 |
| Total provisions | -215 695.96 |
| Total Liabilities | -252 921.77 |
|  |  |
| Net assets at the end of the period | 233 569 797.57 |
| Statement of Operations | EUR |
| Income | 1.12.2020-31.5.2021 |
| Interest on liquid assets | 622.39 |
| Dividends | 2 232 221.25 |
| Income on securities lending (Note 11) | 43 130.20 |
| Other income (Note 1 a) | 17 690.18 |
| Total income | 2 293 664.02 |
|  |  |
| Expenses |  |
| Flat fee (Note 2) | -729 176.70 |
| Taxe d’abonnement (Note 3) | -29 442.92 |
| Cost on securities lending (Note 11) | -17 252.08 |
| Other commissions and fees (Note 2) | -5 270.14 |
| Interest on cash and bank overdraft | -5 828.62 |
| Total expenses | -786 970.46 |
|  |  |
| Net income (loss) on investments | 1 506 693.56 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | 5 521 848.51 |
| Realized gain (loss) on foreign exchange | -36 310.61 |
| Total realized gain (loss) | 5 485 537.90 |
|  |  |
| Net realized gain (loss) of the period | 6 992 231.46 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | 30 165 566.29 |
| Total changes in unrealized appreciation (depreciation) | 30 165 566.29 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | 37 157 797.75 |

UBS (Lux) Equity Fund – Mid Caps Europe (EUR) Semi-Annual Report as of 31 May 2021
| Statement of Changes in Net Assets |  |
| --- | --- |
|  | EUR |
|  | 1.12.2020-31.5.2021 |
| Net assets at the beginning of the period | 182 432 778.67 |
| Subscriptions | 20 579 753.53 |
| Redemptions | 	-6 600 532.38	 |
| Total net subscriptions (redemptions) | 13 979 221.15 |
| Net income (loss) on investments | 1 506 693.56 |
| Total realized gain (loss) | 5 485 537.90 |
| Total changes in unrealized appreciation (depreciation) | 	30 165 566.29	 |
| Net increase (decrease) in net assets as a result of operations | 37 157 797.75 |
| Net assets at the end of the period | 233 569 797.57 |
| Development of the outstanding units |  |
|  | 1.12.2020-31.5.2021 |
| Class | I-B-acc |
| Number of units outstanding at the beginning of the period | 367 754.0540 |
| Number of units issued | 0.0000 |
| Number of units redeemed | 0.0000 |
| Number of units outstanding at the end of the period | 367 754.0540 |
| Class | P-acc |
| Number of units outstanding at the beginning of the period | 38 340.1100 |
| Number of units issued | 4 977.4120 |
| Number of units redeemed | -2 434.9240 |
| Number of units outstanding at the end of the period | 40 882.5980 |
| Class | Q-acc |
| Number of units outstanding at the beginning of the period | 98 188.2550 |
| Number of units issued | 59 503.7480 |
| Number of units redeemed | -13 634.7560 |
| Number of units outstanding at the end of the period | 144 057.2470 |

UBS (Lux) Equity Fund – Mid Caps Europe (EUR) Semi-Annual Report as of 31 May 2021

## Statement of Investments in Securities and other Net Assets as of 31 May 2021
| Description | Quantity/ | Valuation in EUR | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Transferable securities and money market instruments listed on an official stock exchange |  |  |  |
| Bearer shares |  |  |  |
| Austria |  |  |  |
| EUR	ERSTE GROUP BK AG NPV | 102 471.00 | 3 445 075.02 | 1.47 |
| Total Austria |  | 3 445 075.02 | 1.47 |
| Belgium |  |  |  |
| EUR	GALAPAGOS NV NPV | 12 276.00 | 750 063.60 | 0.32 |
| Total Belgium |  | 750 063.60 | 0.32 |
| Denmark |  |  |  |
| DKK	GENMAB AS DKK1 (BEARER) | 11 890.00 | 3 937 584.33 | 1.69 |
| Total Denmark |  | 3 937 584.33 | 1.69 |
| Faroe Islands |  |  |  |
| NOK	P/F BAKKAFROST DKK1 | 29 235.00 | 2 115 410.16 | 0.91 |
| Total Faroe Islands |  | 2 115 410.16 | 0.91 |
| France |  |  |  |
| EUR	ALSTOM EUR7.00 | 77 225.00 | 3 551 577.75 | 1.52 |
| EUR	FAURECIA EUR7 | 74 670.00 | 3 302 654.10 | 1.42 |
| EUR	JC DECAUX SA NPV | 123 533.00 | 2 967 262.66 | 1.27 |
| EUR	ORPEA EUR2.5 | 46 531.00 | 4 769 427.50 | 2.04 |
| EUR	PUBLICIS GROUPE SA EUR0.40 | 80 057.00 | 4 443 163.50 | 1.90 |
| EUR	TELEPERFORMANCE EUR2.50 | 16 492.00 | 5 188 383.20 | 2.22 |
| EUR	UBISOFT ENTERTAIN EUR0.31 | 47 867.00 | 2 870 105.32 | 1.23 |
| Total France |  | 27 092 574.03 | 11.60 |
| Germany |  |  |  |
| EUR	COMMERZBANK AG NPV | 404 431.00 | 2 668 435.74 | 1.14 |
| EUR	COVESTRO AG NPV | 79 177.00 | 4 536 842.10 | 1.94 |
| EUR	DEUTSCHE WOHNEN AG NPV (BR) | 45 793.00 | 2 390 394.60 | 1.02 |
| EUR	KION GROUP AG NPV | 48 825.00 | 4 268 281.50 | 1.83 |
| EUR	KNORR BREMSE AG NPV | 21 413.00 | 2 177 702.10 | 0.93 |
| EUR	LANXESS AG NPV | 51 616.00 | 3 164 060.80 | 1.36 |
| Total Germany |  | 19 205 716.84 | 8.22 |
| Ireland |  |  |  |
| EUR	BANK OF IRELAND GR EUR1 | 555 599.00 | 2 913 561.16 | 1.25 |
| GBP	DCC ORD EUR0.25 | 30 982.00 | 2 156 929.51 | 0.92 |
| Total Ireland |  | 5 070 490.67 | 2.17 |
| Italy |  |  |  |
| EUR	BANCA MEDIOLANUM NPV | 195 037.00 | 1 580 969.92 | 0.68 |
| EUR	INFRASTRUTTURE WIR NPV | 554 413.00 | 5 076 205.43 | 2.17 |
| Total Italy |  | 6 657 175.35 | 2.85 |
| The Netherlands |  |  |  |
| EUR	ASR NEDERLAND N.V. EUR0.16 | 83 841.00 | 2 952 041.61 | 1.26 |
| Total The Netherlands |  | 2 952 041.61 | 1.26 |
| Norway |  |  |  |
| NOK	YARA INTERNATIONAL NOK1.7 | 75 592.00 | 3 309 346.21 | 1.42 |
| Total Norway |  | 3 309 346.21 | 1.42 |
| Sweden |  |  |  |
| SEK	LUNDIN ENERGY AB NPV | 139 050.00 | 3 910 175.86 | 1.67 |
| Total Sweden |  | 3 910 175.86 | 1.67 |
| United Kingdom |  |  |  |
| GBP	3I GROUP ORD GBP0.738636 | 571 972.00 | 8 265 908.81 | 3.54 |
| GBP	AVEVA GROUP ORD GBP0.03556 | 59 286.00 | 2 411 797.30 | 1.03 |
| GBP	ITV ORD GBP0.10 | 2 081 549.00 | 3 107 394.37 | 1.33 |
| GBP	JD SPORTS FASHION ORD GBP0.0025 | 494 816.00 | 5 437 661.37 | 2.33 |
| GBP	MELROSE INDUST PLC ORD GBP0.0685714 | 1 508 462.00 | 3 028 805.76 | 1.30 |
| GBP	SPIRAX-SARCO ENG ORD GBP0.269230769 | 16 353.00 | 2 414 603.74 | 1.03 |
| GBP	WOOD GROUP (JOHN) ORD GBP0.0428571(POST CONS) | 562 890.00 | 1 602 717.69 | 0.69 |
| Total United Kingdom |  | 26 268 889.04 | 11.25 |
| Total Bearer shares |  | 104 714 542.72 | 44.83 |
| Registered shares |  |  |  |
| Denmark |  |  |  |
| DKK	H.LUNDBECK A/S DKK5 | 92 853.00 | 2 397 694.53 | 1.03 |
| DKK	VESTAS WIND SYSTEM DKK0.20 (POST SPLIT) | 38 500.00 | 1 225 818.10 | 0.52 |
| Total Denmark |  | 3 623 512.63 | 1.55 |
| Finland |  |  |  |
| EUR	NESTE OIL OYJ NPV | 60 708.00 | 3 272 161.20 | 1.40 |
| EUR	STORA ENSO OYJ NPV SER’R’ | 233 604.00 | 3 344 041.26 | 1.43 |
| Total Finland |  | 6 616 202.46 | 2.83 |
| Germany |  |  |  |
| EUR	BRENNTAG AG | 42 308.00 | 3 263 639.12 | 1.40 |
| EUR	INFINEON TECHNOLOG AG NPV (REGD) | 46 000.00 | 1 530 190.00 | 0.65 |
| EUR	VONOVIA SE NPV | 59 152.00 | 3 025 033.28 | 1.30 |
| Total Germany |  | 7 818 862.40 | 3.35 |
| UBS (Lux) Equity Fund – Mid Caps Europe (EUR) Semi-Annual Report as of 31 May 2021 |  |  |  |

|  | Description | Quantity/ | Valuation in EUR | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Ireland |  |  |  |  |
| EUR | KINGSPAN GROUP ORD EUR0.13(DUBLIN LISTING) | 64 447.00 | 4 953 396.42 | 2.12 |
| EUR | SMURFIT KAPPA GRP ORD EUR0.001 | 102 146.00 | 4 440 286.62 | 1.90 |
| Total Ireland	9 393 683.04	4.02 |
| Italy |  |  |  |  |
| EUR | MONCLER SPA NPV | 55 413.00 | 3 220 603.56 | 1.38 |
| Total Italy |  | 3 220 603.56 | 1.38 |
| Luxembourg |  |  |  |
| EUR	ARCELORMITTAL NPV(POST STOCK SPLIT) | 85 691.00 | 2 304 659.45 | 0.98 |
| EUR	EUROFINS SCIENTIFI EUR0.01 | 50 720.00 | 4 477 054.40 | 1.92 |
| Total Luxembourg |  | 6 781 713.85 | 2.90 |
| The Netherlands |  |  |  |
| EUR	CNH INDUSTRIAL NV COM EUR0.01 | 287 753.00 | 4 064 511.13 | 1.74 |
| Total The Netherlands |  | 4 064 511.13 | 1.74 |
| Portugal |  |  |  |
| EUR	GALP ENERGIA EUR1-B | 353 801.00 | 3 601 694.18 | 1.54 |
| Total Portugal |  | 3 601 694.18 | 1.54 |
| Spain |  |  |  |
| EUR	BANKINTER SA EUR0.3(REGD) | 514 162.00 | 2 411 419.78 | 1.03 |
| EUR	LINEA DIRECTA SA EUR0.04 | 514 162.00 | 876 132.04 | 0.38 |
| Total Spain |  | 3 287 551.82 | 1.41 |
| Sweden |  |  |  |
| SEK	AVANZA BANK HLDG NPV (POST SPLIT) | 86 680.00 | 2 410 138.82 | 1.03 |
| SEK	BOLIDEN AB NPV (POST SPLIT) | 95 623.00 | 3 136 043.61 | 1.34 |
| SEK	EMBRACER GROUP AB SER’B’NPV (POST SPLIT) | 71 439.00 | 1 742 559.29 | 0.75 |
| SEK	HEXAGON AB SER’B’NPV (POST SPLIT) | 297 213.00 | 3 465 080.73 | 1.49 |
| Total Sweden |  | 10 753 822.45 | 4.61 |
| Switzerland |  |  |  |
| CHF	BARRY CALLEBAUT AG CHF0.02 (REGD) | 1 664.00 | 3 114 352.75 | 1.33 |
| CHF	GEBERIT CHF0.10(REGD) | 7 021.00 | 4 154 149.68 | 1.78 |
| CHF	LOGITECH INTL CHF0.25(REGD) (POST-SUBD) | 42 499.00 | 4 305 593.36 | 1.84 |
| CHF	STRAUMANN HLDG CHF0.1(REGD) | 3 315.00 | 4 243 273.69 | 1.82 |
| CHF	SWISS LIFE HLDG CHF5.1(REGD) | 9 406.00 | 3 989 630.04 | 1.71 |
| CHF	TEMENOS AG CHF5 (REGD) | 14 270.00 | 1 796 743.33 | 0.77 |
| Total Switzerland |  | 21 603 742.85 | 9.25 |
| United Kingdom |  |  |  |
| GBP	ASHTEAD GROUP ORD GBP0.10 | 142 521.00 | 8 530 256.90 | 3.65 |
| GBP	CARNIVAL PLC ORD USD1.66 | 65 193.00 | 1 338 100.71 | 0.57 |
| GBP	CRODA INTL ORD GBP0.10609756 | 49 397.00 | 4 013 268.18 | 1.72 |
| GBP	DR. MARTENS PLC ORD GBP0.01 | 705 058.00 | 4 019 944.14 | 1.72 |
| GBP	FERGUSON PLC (NEW) ORD GBP0.10 | 53 611.00 | 5 973 727.74 | 2.56 |
| GBP	HARGREAVES LANSDOW ORD GBP0.004 (WI) | 160 683.00 | 3 095 545.21 | 1.33 |
| GBP	LONDON STOCK EXCH ORD GBP0.06918604 | 23 900.00 | 2 104 591.99 | 0.90 |
| GBP	PERSIMMON ORD GBP0.10 | 120 851.00 | 4 439 990.52 | 1.90 |
| GBP	TAYLOR WIMPEY ORD GBP0.01 | 1 222 784.00 | 2 436 718.03 | 1.04 |
| Total United Kingdom |  | 35 952 143.42 | 15.39 |
| Total Registered shares |  | 116 718 043.79 | 49.97 |
| Investment funds, closed end |  |  |  |
| United Kingdom |  |  |  |
| GBP	SEGRO PLC REIT | 309 774.00 | 3 758 219.39 | 1.61 |
| Total United Kingdom |  | 3 758 219.39 | 1.61 |
| Total Investment funds, closed end |  | 3 758 219.39 | 1.61 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 225 190 805.90 | 96.41 |
| Total investments in securities |  | 225 190 805.90 | 96.41 |
|  |  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets |  | 7 996 523.27 | 3.42 |
| Other assets and liabilities |  | 382 468.40 | 0.17 |
| Total net assets |  | 233 569 797.57 | 100.00 |

UBS (Lux) Equity Fund – Mid Caps Europe (EUR) Semi-Annual Report as of 31 May 2021

Translation (ENDE, 2021-05-31):
# UBS (Lux) Equity Fund – Mid Caps Europe (EUR)
| Wichtigste Daten |  |
| --- | --- |
|  | ISIN | 31.5.2021 | 30.11.2020 | 30.11.2019 |
| Nettovermögen in EUR |  | 233 569 797.57 | 182 432 778.67 | 177 064 827.19 |
| Klasse I-B-acc | LU0403311318 |  |  |  |
| Anteile im Umlauf |  | 367 754.0540 | 367 754.0540 | 367 754.0540 |
| Nettoinventarwert pro Anteil in EUR |  | 365.79 | 304.44 | 275.61 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | 365.64 | 304.44 | 275.61 |
| Klasse P-acc | LU0049842692 |  |  |  |
| Anteile im Umlauf |  | 40 882.5980 | 38 340.1100 | 44 137.9230 |
| Nettoinventarwert pro Anteil in EUR |  | 1 572.45 | 1 321.17 | 1 219.01 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | 1 571.82 | 1 321.17 | 1 219.01 |
| Klasse Q-acc | LU0403310344 |  |  |  |
| Anteile im Umlauf |  | 144 057.2470 | 98 188.2550 | 118 664.6360 |
| Nettoinventarwert pro Anteil in EUR |  | 241.33 | 201.86 | 184.58 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | 241.23 | 201.86 | 184.58 |
| 1  Siehe Erläuterung 1 |  |  |  |  |


## Struktur des Wertpapierbestandes
Geographische Aufteilung in % des Nettovermögens	
Grossbritannien	28.25
Frankreich	11.60
Deutschland	11.57
Schweiz	9.25
Schweden	6.28
Irland	6.19
Italien	4.23
Dänemark	3.24
Niederlande	3.00
Luxemburg	2.90
Finnland	2.83
Portugal	1.54
Österreich	1.47
Norwegen	1.42
Spanien	1.41
Färöer Inseln	0.91
Belgien	0.32
Total	96.41
Wirtschaftliche Aufteilung in % des Nettovermögens	
Maschinen & Apparate	10.23
Baugewerbe & Baumaterial	9.40
Chemie	6.41
Telekommunikation	5.73
Banken & Kreditinstitute	5.57
Finanz- & Beteiligungsgesellschaften	5.47
Erdöl	5.30
Pharmazeutik, Kosmetik & medizinische Produkte	5.08
Internet, Software & IT-Dienste	3.78
Versicherungen	3.35
Forstwirtschaft, Holz & Papier	3.33
Grafisches Gewerbe, Verlage & Medien	3.17
Textilien, Kleidung & Lederwaren	3.10
Bergbau, Kohle & Stahl	2.33
Detailhandel, Warenhäuser	2.33
Landwirtschaft & Fischerei	2.32
Immobilien	2.32
Gesundheits- & Sozialwesen	2.04
Computer & Netzwerkausrüster	1.84
Diverse nicht klassierte Gesellschaften	1.74
Biotechnologie	1.69
Anlagefonds	1.61
Elektrische Geräte & Komponenten	1.52
Fahrzeuge	1.41
Nahrungsmittel & Softdrinks	1.33
Pfandbriefinstitute & Refinanzierungsgesellschaften	1.33
Diverse Dienstleistungen	0.92
Elektronik & Halbleiter	0.66
Gastgewerbe & Freizeit	0.57
Energie- & Wasserversorgung	0.53
Total	96.41
UBS (Lux) Equity Fund – Mid Caps Europe (EUR) Halbjahresbericht per 31. Mai 2021

## Nettovermögensaufstellung
Aktiva	31.5.2021
EUR
Wertpapierbestand, Einstandswert	158 346 920.61
| Wertpapierbestand, nicht realisierte Werterhöhung (-minderung) | 	66 843 885.29	 |
| --- | --- |
| Total Wertpapierbestand (Erläuterung 1) | 225 190 805.90 |
| Bankguthaben, Sicht- und Fristgelder | 7 996 523.27 |
| Forderungen aus Zeichnungen | 247 961.82 |
| Zinsforderungen aus liquiden Mitteln | 1 512.19 |
| Forderungen aus Dividenden | 181 792.97 |
| Andere Forderungen | 204 123.19 |
| Total Aktiva | 233 822 719.34 |
|  |  |
| Passiva |  |
| Verbindlichkeiten aus Rücknahmen | -37 225.81 |
| Rückstellungen für Pauschale Verwaltungskommission (Erläuterung 2) | -199 851.22 |
| Rückstellungen für Abonnementsabgabe (Erläuterung 3) | -10 553.91 |
| Rückstellungen für andere Kommissionen und Gebühren (Erläuterung 2) | 	-5 290.83	 |
| Total Rückstellungen für Aufwendungen | -215 695.96 |
| Total Passiva | -252 921.77 |
|  |  |
| Nettovermögen am Ende der Berichtsperiode | 233 569 797.57 |
| Ertrags- und Aufwandsrechnung | EUR |
| Erträge | 1.12.2020-31.5.2021 |
| Zinsertrag aus liquiden Mitteln | 622.39 |
| Dividenden | 2 232 221.25 |
| Erträge aus Securities Lending (Erläuterung 11) | 43 130.20 |
| Andere Erträge (Erläuterung 1 a) | 17 690.18 |
| Total Erträge | 2 293 664.02 |
|  |  |
| Aufwendungen |  |
| Pauschale Verwaltungskommission (Erläuterung 2) | -729 176.70 |
| Abonnementsabgabe (Erläuterung 3) | -29 442.92 |
| Kosten aus Securities Lending (Erläuterung 11) | -17 252.08 |
| Andere Kommissionen und Gebühren (Erläuterung 2) | -5 270.14 |
| Zinsaufwand aus liquiden Mitteln und Kontokorrentkredit | -5 828.62 |
| Total Aufwendungen | -786 970.46 |
|  |  |
| Nettoerträge (-verluste) aus Anlagen | 1 506 693.56 |
|  |  |
| Realisierte Gewinne (Verluste) (Erläuterung 1) |  |
| Realisierter Kursgewinn (-verlust) aus marktbewerteten Wertpapieren ausser Optionen | 5 521 848.51 |
| Realisierter Währungsgewinn (-verlust) | -36 310.61 |
| Total der realisierten Gewinne (Verluste) | 5 485 537.90 |
|  |  |
| Realisierter Nettogewinn (-verlust) der Berichtsperiode | 6 992 231.46 |
|  |  |
| Veränderungen der nicht realisierten Werterhöhung (-minderung) (Erläuterung 1) |  |
| Nicht realisierte Werterhöhung (-minderung) marktbewerteter Wertpapiere ausser Optionen | 30 165 566.29 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | 30 165 566.29 |
|  |  |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | 37 157 797.75 |

UBS (Lux) Equity Fund – Mid Caps Europe (EUR) Halbjahresbericht per 31. Mai 2021
| Veränderung des Nettovermögens |  |
| --- | --- |
|  | EUR |
|  | 1.12.2020-31.5.2021 |
| Nettovermögen zu Beginn der Berichtsperiode | 182 432 778.67 |
| Zeichnungen | 20 579 753.53 |
| Rücknahmen | 	-6 600 532.38	 |
| Total Mittelzufluss (-abfluss) | 13 979 221.15 |
| Nettoerträge (-verluste) aus Anlagen | 1 506 693.56 |
| Total der realisierten Gewinne (Verluste) | 5 485 537.90 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | 	30 165 566.29	 |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | 37 157 797.75 |
| Nettovermögen am Ende der Berichtsperiode | 233 569 797.57 |
| Entwicklung der Anteile im Umlauf |  |
|  | 1.12.2020-31.5.2021 |
| Klasse | I-B-acc |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode | 367 754.0540 |
| Anzahl der ausgegebenen Anteile | 0.0000 |
| Anzahl der zurückgegebenen Anteile | 0.0000 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode | 367 754.0540 |
| Klasse | P-acc |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode | 38 340.1100 |
| Anzahl der ausgegebenen Anteile | 4 977.4120 |
| Anzahl der zurückgegebenen Anteile | -2 434.9240 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode | 40 882.5980 |
| Klasse | Q-acc |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode | 98 188.2550 |
| Anzahl der ausgegebenen Anteile | 59 503.7480 |
| Anzahl der zurückgegebenen Anteile | -13 634.7560 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode | 144 057.2470 |

UBS (Lux) Equity Fund – Mid Caps Europe (EUR) Halbjahresbericht per 31. Mai 2021

## Aufstellung der Wertpapierbestände und anderer Nettovermögenswerte per 31. Mai 2021
| Bezeichnung | Anzahl/ | Bewertung in EUR | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
| Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden |  |  |  |
| Inhaberaktien |  |  |  |
| Österreich |  |  |  |
| EUR	ERSTE GROUP BK AG NPV | 102 471.00 | 3 445 075.02 | 1.47 |
| Total Österreich |  | 3 445 075.02 | 1.47 |
| Belgien |  |  |  |
| EUR	GALAPAGOS NV NPV | 12 276.00 | 750 063.60 | 0.32 |
| Total Belgien |  | 750 063.60 | 0.32 |
| Dänemark |  |  |  |
| DKK	GENMAB AS DKK1 (BEARER) | 11 890.00 | 3 937 584.33 | 1.69 |
| Total Dänemark |  | 3 937 584.33 | 1.69 |
| Färöer Inseln |  |  |  |
| NOK	P/F BAKKAFROST DKK1 | 29 235.00 | 2 115 410.16 | 0.91 |
| Total Färöer Inseln |  | 2 115 410.16 | 0.91 |
| Frankreich |  |  |  |
| EUR	ALSTOM EUR7.00 | 77 225.00 | 3 551 577.75 | 1.52 |
| EUR	FAURECIA EUR7 | 74 670.00 | 3 302 654.10 | 1.42 |
| EUR	JC DECAUX SA NPV | 123 533.00 | 2 967 262.66 | 1.27 |
| EUR	ORPEA EUR2.5 | 46 531.00 | 4 769 427.50 | 2.04 |
| EUR	PUBLICIS GROUPE SA EUR0.40 | 80 057.00 | 4 443 163.50 | 1.90 |
| EUR	TELEPERFORMANCE EUR2.50 | 16 492.00 | 5 188 383.20 | 2.22 |
| EUR	UBISOFT ENTERTAIN EUR0.31 | 47 867.00 | 2 870 105.32 | 1.23 |
| Total Frankreich |  | 27 092 574.03 | 11.60 |
| Deutschland |  |  |  |
| EUR	COMMERZBANK AG NPV | 404 431.00 | 2 668 435.74 | 1.14 |
| EUR	COVESTRO AG NPV | 79 177.00 | 4 536 842.10 | 1.94 |
| EUR	DEUTSCHE WOHNEN AG NPV (BR) | 45 793.00 | 2 390 394.60 | 1.02 |
| EUR	KION GROUP AG NPV | 48 825.00 | 4 268 281.50 | 1.83 |
| EUR	KNORR BREMSE AG NPV | 21 413.00 | 2 177 702.10 | 0.93 |
| EUR	LANXESS AG NPV | 51 616.00 | 3 164 060.80 | 1.36 |
| Total Deutschland |  | 19 205 716.84 | 8.22 |
| Irland |  |  |  |
| EUR	BANK OF IRELAND GR EUR1 | 555 599.00 | 2 913 561.16 | 1.25 |
| GBP	DCC ORD EUR0.25 | 30 982.00 | 2 156 929.51 | 0.92 |
| Total Irland |  | 5 070 490.67 | 2.17 |
| Italien |  |  |  |
| EUR	BANCA MEDIOLANUM NPV | 195 037.00 | 1 580 969.92 | 0.68 |
| EUR	INFRASTRUTTURE WIR NPV | 554 413.00 | 5 076 205.43 | 2.17 |
| Total Italien |  | 6 657 175.35 | 2.85 |
| Niederlande |  |  |  |
| EUR	ASR NEDERLAND N.V. EUR0.16 | 83 841.00 | 2 952 041.61 | 1.26 |
| Total Niederlande |  | 2 952 041.61 | 1.26 |
| Norwegen |  |  |  |
| NOK	YARA INTERNATIONAL NOK1.7 | 75 592.00 | 3 309 346.21 | 1.42 |
| Total Norwegen |  | 3 309 346.21 | 1.42 |
| Schweden |  |  |  |
| SEK	LUNDIN ENERGY AB NPV | 139 050.00 | 3 910 175.86 | 1.67 |
| Total Schweden |  | 3 910 175.86 | 1.67 |
| Grossbritannien |  |  |  |
| GBP	3I GROUP ORD GBP0.738636 | 571 972.00 | 8 265 908.81 | 3.54 |
| GBP	AVEVA GROUP ORD GBP0.03556 | 59 286.00 | 2 411 797.30 | 1.03 |
| GBP	ITV ORD GBP0.10 | 2 081 549.00 | 3 107 394.37 | 1.33 |
| GBP	JD SPORTS FASHION ORD GBP0.0025 | 494 816.00 | 5 437 661.37 | 2.33 |
| GBP	MELROSE INDUST PLC ORD GBP0.0685714 | 1 508 462.00 | 3 028 805.76 | 1.30 |
| GBP	SPIRAX-SARCO ENG ORD GBP0.269230769 | 16 353.00 | 2 414 603.74 | 1.03 |
| GBP	WOOD GROUP (JOHN) ORD GBP0.0428571(POST CONS) | 562 890.00 | 1 602 717.69 | 0.69 |
| Total Grossbritannien |  | 26 268 889.04 | 11.25 |
| Total Inhaberaktien |  | 104 714 542.72 | 44.83 |
| Namensaktien |  |  |  |
| Dänemark |  |  |  |
| DKK	H.LUNDBECK A/S DKK5 | 92 853.00 | 2 397 694.53 | 1.03 |
| DKK	VESTAS WIND SYSTEM DKK0.20 (POST SPLIT) | 38 500.00 | 1 225 818.10 | 0.52 |
| Total Dänemark |  | 3 623 512.63 | 1.55 |
| Finnland |  |  |  |
| EUR	NESTE OIL OYJ NPV | 60 708.00 | 3 272 161.20 | 1.40 |
| EUR	STORA ENSO OYJ NPV SER’R’ | 233 604.00 | 3 344 041.26 | 1.43 |
| Total Finnland |  | 6 616 202.46 | 2.83 |
| Deutschland |  |  |  |
| EUR	BRENNTAG AG | 42 308.00 | 3 263 639.12 | 1.40 |
| EUR	INFINEON TECHNOLOG AG NPV (REGD) | 46 000.00 | 1 530 190.00 | 0.65 |
| EUR	VONOVIA SE NPV | 59 152.00 | 3 025 033.28 | 1.30 |
| Total Deutschland |  | 7 818 862.40 | 3.35 |
| UBS (Lux) Equity Fund – Mid Caps Europe (EUR) Halbjahresbericht per 31. Mai 2021 |  |  |  |

|  | Bezeichnung | Anzahl/ | Bewertung in EUR | in % des |
| --- | --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
| Irland |  |  |  |  |
| EUR | KINGSPAN GROUP ORD EUR0.13(DUBLIN LISTING) | 64 447.00 | 4 953 396.42 | 2.12 |
| EUR | SMURFIT KAPPA GRP ORD EUR0.001 | 102 146.00 | 4 440 286.62 | 1.90 |
| Total Irland | 9 393 683.04 | 4.02 |
| Italien |  |  |  |  |
| EUR | MONCLER SPA NPV | 55 413.00 | 3 220 603.56 | 1.38 |
| Total Italien |  | 3 220 603.56 | 1.38 |
| Luxemburg |  |  |  |
| EUR	ARCELORMITTAL NPV(POST STOCK SPLIT) | 85 691.00 | 2 304 659.45 | 0.98 |
| EUR	EUROFINS SCIENTIFI EUR0.01 | 50 720.00 | 4 477 054.40 | 1.92 |
| Total Luxemburg |  | 6 781 713.85 | 2.90 |
| Niederlande |  |  |  |
| EUR	CNH INDUSTRIAL NV COM EUR0.01 | 287 753.00 | 4 064 511.13 | 1.74 |
| Total Niederlande |  | 4 064 511.13 | 1.74 |
| Portugal |  |  |  |
| EUR	GALP ENERGIA EUR1-B | 353 801.00 | 3 601 694.18 | 1.54 |
| Total Portugal |  | 3 601 694.18 | 1.54 |
| Spanien |  |  |  |
| EUR	BANKINTER SA EUR0.3(REGD) | 514 162.00 | 2 411 419.78 | 1.03 |
| EUR	LINEA DIRECTA SA EUR0.04 | 514 162.00 | 876 132.04 | 0.38 |
| Total Spanien |  | 3 287 551.82 | 1.41 |
| Schweden |  |  |  |
| SEK	AVANZA BANK HLDG NPV (POST SPLIT) | 86 680.00 | 2 410 138.82 | 1.03 |
| SEK	BOLIDEN AB NPV (POST SPLIT) | 95 623.00 | 3 136 043.61 | 1.34 |
| SEK	EMBRACER GROUP AB SER’B’NPV (POST SPLIT) | 71 439.00 | 1 742 559.29 | 0.75 |
| SEK	HEXAGON AB SER’B’NPV (POST SPLIT) | 297 213.00 | 3 465 080.73 | 1.49 |
| Total Schweden |  | 10 753 822.45 | 4.61 |
| Schweiz |  |  |  |
| CHF	BARRY CALLEBAUT AG CHF0.02 (REGD) | 1 664.00 | 3 114 352.75 | 1.33 |
| CHF	GEBERIT CHF0.10(REGD) | 7 021.00 | 4 154 149.68 | 1.78 |
| CHF	LOGITECH INTL CHF0.25(REGD) (POST-SUBD) | 42 499.00 | 4 305 593.36 | 1.84 |
| CHF	STRAUMANN HLDG CHF0.1(REGD) | 3 315.00 | 4 243 273.69 | 1.82 |
| CHF	SWISS LIFE HLDG CHF5.1(REGD) | 9 406.00 | 3 989 630.04 | 1.71 |
| CHF	TEMENOS AG CHF5 (REGD) | 14 270.00 | 1 796 743.33 | 0.77 |
| Total Schweiz |  | 21 603 742.85 | 9.25 |
| Grossbritannien |  |  |  |
| GBP	ASHTEAD GROUP ORD GBP0.10 | 142 521.00 | 8 530 256.90 | 3.65 |
| GBP	CARNIVAL PLC ORD USD1.66 | 65 193.00 | 1 338 100.71 | 0.57 |
| GBP	CRODA INTL ORD GBP0.10609756 | 49 397.00 | 4 013 268.18 | 1.72 |
| GBP	DR. MARTENS PLC ORD GBP0.01 | 705 058.00 | 4 019 944.14 | 1.72 |
| GBP	FERGUSON PLC (NEW) ORD GBP0.10 | 53 611.00 | 5 973 727.74 | 2.56 |
| GBP	HARGREAVES LANSDOW ORD GBP0.004 (WI) | 160 683.00 | 3 095 545.21 | 1.33 |
| GBP	LONDON STOCK EXCH ORD GBP0.06918604 | 23 900.00 | 2 104 591.99 | 0.90 |
| GBP	PERSIMMON ORD GBP0.10 | 120 851.00 | 4 439 990.52 | 1.90 |
| GBP	TAYLOR WIMPEY ORD GBP0.01 | 1 222 784.00 | 2 436 718.03 | 1.04 |
| Total Grossbritannien |  | 35 952 143.42 | 15.39 |
| Total Namensaktien |  | 116 718 043.79 | 49.97 |
| Investment Fonds, closed end |  |  |  |
| Grossbritannien |  |  |  |
| GBP	SEGRO PLC REIT | 309 774.00 | 3 758 219.39 | 1.61 |
| Total Grossbritannien |  | 3 758 219.39 | 1.61 |
| Total Investment Fonds, closed end |  | 3 758 219.39 | 1.61 |
| Total Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden |  | 225 190 805.90 | 96.41 |
| Total des Wertpapierbestandes |  | 225 190 805.90 | 96.41 |
|  |  |  |  |
| Bankguthaben, Sicht- und Fristgelder und andere liquide Mittel |  | 7 996 523.27 | 3.42 |
| Andere Aktiva und Passiva |  | 382 468.40 | 0.17 |
| Total des Nettovermögens |  | 233 569 797.57 | 100.00 |

UBS (Lux) Equity Fund – Mid Caps Europe (EUR) Halbjahresbericht per 31. Mai 2021