# UBS (Lux) Bond SICAV
– Emerging Economies Local Currency Bond (USD)
| Most important figures |  |
| --- | --- |
|  | ISIN | 30.11.2022 | 31.5.2022 | 31.5.2021 |
| Net assets in USD |  | 274 844 105.66 | 288 583 251.06 | 385 737 648.78 |
| Class I-A1-acc | LU1390335583 |  |  |  |
| Shares outstanding |  | 15 179.1970 | 15 179.1970 | 41 774.5600 |
| Net asset value per share in USD |  | 100.18 | 100.36 | 120.09 |
| Issue and redemption price per share in USD 1 |  | 100.18 | 100.36 | 120.09 |
| Class I-B-acc | LU1881004227 |  |  |  |
| Shares outstanding |  | 103 710.0010 | 132 560.0010 | 231 183.0480 |
| Net asset value per share in USD |  | 99.01 | 98.93 | 117.77 |
| Issue and redemption price per share in USD 1 |  | 99.01 | 98.93 | 117.77 |
| Class I-X-acc | LU1131112325 |  |  |  |
| Shares outstanding |  | 2 439 695.4500 | 2 505 884.1850 | 2 312 406.0520 |
| Net asset value per share in USD |  | 90.29 | 90.17 | 107.21 |
| Issue and redemption price per share in USD 1 |  | 90.29 | 90.17 | 107.21 |
| Class P-acc | LU0775387714 |  |  |  |
| Shares outstanding |  | 130 707.7950 | 141 155.4680 | 177 581.8330 |
| Net asset value per share in USD |  | 77.09 | 77.58 | 93.68 |
| Issue and redemption price per share in USD 1 |  | 77.09 | 77.58 | 93.68 |
| Class (EUR hedged) P-acc | LU2064626802 |  |  |  |
| Shares outstanding |  | 92 161.0410 | 102 800.5960 | 120 551.9550 |
| Net asset value per share in EUR |  | 79.35 | 81.14 | 99.34 |
| Issue and redemption price per share in EUR 1 |  | 79.35 | 81.14 | 99.34 |
| Class P-dist | LU0775387805 |  |  |  |
| Shares outstanding |  | 7 001.9420 | 7 001.9460 | 6 848.9080 |
| Net asset value per share in USD |  | 48.90 | 51.30 | 64.47 |
| Issue and redemption price per share in USD 1 |  | 48.90 | 51.30 | 64.47 |
| Class (EUR hedged) P-dist | LU2064626984 |  |  |  |
| Shares outstanding |  | 229 731.1750 | 232 161.1040 | 251 886.3650 |
| Net asset value per share in EUR |  | 71.25 | 76.48 | 97.34 |
| Issue and redemption price per share in EUR 1 |  | 71.25 | 76.48 | 97.34 |
| Class P-mdist 2 | LU0775387987 |  |  |  |
| Shares outstanding |  | - | - | 8 287.3030 |
| Net asset value per share in USD |  | - | - | 95.85 |
| Issue and redemption price per share in USD 1 |  | - | - | 95.85 |
| Class Q-acc | LU1240772902 |  |  |  |
| Shares outstanding |  | 28 151.7730 | 28 427.7650 | 113 832.3400 |
| Net asset value per share in USD |  | 98.84 | 99.12 | 118.84 |
| Issue and redemption price per share in USD 1 |  | 98.84 | 99.12 | 118.84 |
| Class (EUR hedged) Q-acc | LU2064627016 |  |  |  |
| Shares outstanding |  | 18 245.5580 | 18 245.5580 | 34 554.5650 |
| Net asset value per share in EUR |  | 81.06 | 82.60 | 100.42 |
| Issue and redemption price per share in EUR 1 |  | 81.06 | 82.60 | 100.42 |
| Class (EUR hedged) Q-dist | LU2064627107 |  |  |  |
| Shares outstanding |  | 8 637.6600 | 9 264.8220 | 9 264.8220 |
| Net asset value per share in EUR |  | 71.31 | 76.55 | 97.35 |
| Issue and redemption price per share in EUR 1 |  | 71.31 | 76.55 | 97.35 |
| Class U-X-acc 3 | LU0775388282 |  |  |  |
| Shares outstanding |  | - | - | 1 359.4990 |
| Net asset value per share in USD |  | - | - | 10 745.73 |
| Issue and redemption price per share in USD 1 |  | - | - | 10 745.73 |
| Class U-X-UKdist-mdist | LU1957417519 |  |  |  |
| Shares outstanding |  | 394.8360 | 449.8360 | 969.9200 |
| Net asset value per share in USD |  | 7 690.34 | 7 866.99 | 9 897.35 |
| Issue and redemption price per share in USD 1 |  | 7 690.34 | 7 866.99 | 9 897.35 |
| 1  See note 1 2  The share class P-mdist was in circulation until 15.3.2022 3  The share class U-X-acc was in circulation until 19.5.2022 |  |  |  |  |

UBS (Lux) Bond SICAV – Emerging Economies Local Currency Bond (USD) Semi-Annual Report as of 30 November 2022

### Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
South Africa	9.84
Mexico	8.59
Malaysia	8.45
Brazil	8.08
Indonesia	7.90
Thailand	7.53
China	7.39
Czech Republic	6.20
Poland	5.73
United States	5.40
Colombia	4.68
Russian Federation (CIS)	4.65
Peru	3.13
Hungary	2.67
Romania	1.82
United Kingdom	1.51
India	0.82
Egypt	0.47
Canada	0.32
Uruguay	0.31
Costa Rica	0.31
Mauritius	0.30
United Arab Emirates	0.30
Israel	0.29
Uzbekistan	0.28
Dominican Republic	0.26
Luxembourg	0.26
The Netherlands	0.24
Lebanon	0.02
Argentina	0.01
Economic Breakdown as a % of net assets	
Countries & central governments	91.26
Finance & holding companies	1.48
Energy & water supply	1.20
Supranational organisations	0.99
Mining, coal & steel	0.64
Cantons, federal states	0.55
Telecommunications	0.42
Petroleum	0.37
Mechanical engineering & industrial equipment	0.30
Miscellaneous unclassified companies	0.28
Investment funds	0.26
Real Estate	0.01
Total	97.76
Total	97.76
UBS (Lux) Bond SICAV – Emerging Economies Local Currency Bond (USD)
Semi-Annual Report as of 30 November 2022

### Statement of Net Assets
Assets	30.11.2022
USD
Investments in securities, cost	329 456 831.07
Investments in securities, unrealized appreciation (depreciation)	60 773 539.54
Total investments in securities (Note 1)	268 683 291.53
Cash at banks, deposits on demand and deposit accounts	6 890 340.10*
Other liquid assets (Margins)	1 402 760.49
Receivable on subscriptions	36.42
Interest receivable on securities	4 048 081.08
Interest receivable on liquid assets	547.74
Prepaid expenses	52 370.03
Unrealized gain on financial futures (Note 1)	5 609.38
Total Assets	283 329 621.52
Liabilities
Unrealized gain on forward foreign exchange contracts (Note 1)	2 246 584.75
Unrealized loss on swaps (Note 1)	-3 848 830.04
Interest payable on bank overdraft	-65.39
Payable on securities purchases (Note 1)	-3 562 556.32
Payable on redemptions	-1 000 000.02
Provisions for flat fee (Note 2)	-48 380.14
Provisions for taxe d’abonnement (Note 3)	-7 172.51
Provisions for other commissions and fees (Note 2)		-18 511.44		 Total provisions			-74 064.09
Total Liabilities	-8 485 515.86
Net assets at the end of the period	274 844 105.66

### Statement of Operations
Income	1.6.2022-30.11.2022
USD
Interest on liquid assets	82 166.62
Interest on securities	6 007 557.59
Interest received on swaps (Note 1)	532 425.80
Net income on securities lending (Note 11)	8 708.10
Total income	6 642 244.01
Expenses
Other income (Note 4)	11 385.90
Interest paid on swaps (Note 1)	-717 549.94
Flat fee (Note 2)	-296 810.39
Taxe d’abonnement (Note 3)	-20 387.67
Other commissions and fees (Note 2)	-17 869.87
Total expenses	-1 058 114.52
Net income (loss) on investments	5 584 129.49
Realized gain (loss) (Note 1)
Interest on cash and bank overdraft	-5 496.65
Realized gain (loss) on market-priced securities without options	-11 080 238.26
Realized gain (loss) on yield-evaluated securities and money market instruments	240 566.79
Realized gain (loss) on financial futures	295 218.52
Realized gain (loss) on forward foreign exchange contracts	-7 393 328.73
Realized gain (loss) on swaps	-351.34
Total realized gain (loss)	-14 453 834.80
Net realized gain (loss) of the period	-8 869 705.31
Changes in unrealized appreciation (depreciation) (Note 1)
Realized gain (loss) on foreign exchange	3 484 298.22
Unrealized appreciation (depreciation) on market-priced securities without options	6 694 688.87
Unrealized appreciation (depreciation) on yield-evaluated securities and money market instruments	-173 584.54
Unrealized appreciation (depreciation) on financial futures	-104 815.67
Unrealized appreciation (depreciation) on forward foreign exchange contracts	317 100.05
Total changes in unrealized appreciation (depreciation)	6 810 274.18
Net increase (decrease) in net assets as a result of operations	-2 059 431.13
Unrealized appreciation (depreciation) on swaps	76 885.47
* As at 30 November 2022, cash amounts serve as collateral for the counterparty Credit Suisse for an amount of USD 2 530 000.00, HSBC Bank for an amount of USD 972 000.00, JP Morgan for an amount of USD 161 092.00 and Morgan Stanley London for an amount of USD 304 000.00.
UBS (Lux) Bond SICAV – Emerging Economies Local Currency Bond (USD) Semi-Annual Report as of 30 November 2022
| Changes in Net Assets |  |
| --- | --- |
|  | USD |
|  | 1.6.2022-30.11.2022 |
| Net assets at the beginning of the period | 288 583 251.06 |
| Subscriptions | 2 806 620.40 |
| Redemptions | 	-13 519 365.16	 |
| Total net subscriptions (redemptions) | -10 712 744.76 |
| Dividend paid | -966 969.51 |
| Net income (loss) on investments | 5 584 129.49 |
| Total realized gain (loss) | -14 453 834.80 |
| Total changes in unrealized appreciation (depreciation) | 	6 810 274.18	 |
| Net increase (decrease) in net assets as a result of operations | -2 059 431.13 |
| Net assets at the end of the period | 274 844 105.66 |
| Changes in the Number of Shares outstanding |  |
|  | 1.6.2022-30.11.2022 |
| Class | I-A1-acc |
| Number of shares outstanding at the beginning of the period | 15 179.1970 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 15 179.1970 |
| Class | I-B-acc |
| Number of shares outstanding at the beginning of the period | 132 560.0010 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -28 850.0000 |
| Number of shares outstanding at the end of the period | 103 710.0010 |
| Class | I-X-acc |
| Number of shares outstanding at the beginning of the period | 2 505 884.1850 |
| Number of shares issued | 31 719.5020 |
| Number of shares redeemed | -97 908.2370 |
| Number of shares outstanding at the end of the period | 2 439 695.4500 |
| Class | P-acc |
| Number of shares outstanding at the beginning of the period | 141 155.4680 |
| Number of shares issued | 154.5370 |
| Number of shares redeemed | -10 602.2100 |
| Number of shares outstanding at the end of the period | 130 707.7950 |
| Class | (EUR hedged) P-acc |
| Number of shares outstanding at the beginning of the period | 102 800.5960 |
| Number of shares issued | 1 050.0820 |
| Number of shares redeemed | -11 689.6370 |
| Number of shares outstanding at the end of the period | 92 161.0410 |
| Class | P-dist |
| Number of shares outstanding at the beginning of the period | 7 001.9460 |
| Number of shares issued | 0.0060 |
| Number of shares redeemed | -0.0100 |
| Number of shares outstanding at the end of the period | 7 001.9420 |
| Class | (EUR hedged) P-dist |
| Number of shares outstanding at the beginning of the period | 232 161.1040 |
| Number of shares issued | 379.1840 |
| Number of shares redeemed | -2 809.1130 |
| Number of shares outstanding at the end of the period | 229 731.1750 |
| Class | Q-acc |
| Number of shares outstanding at the beginning of the period | 28 427.7650 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -275.9920 |
| Number of shares outstanding at the end of the period | 28 151.7730 |
| Class | (EUR hedged) Q-acc |
| Number of shares outstanding at the beginning of the period | 18 245.5580 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 18 245.5580 |
| Class | (EUR hedged) Q-dist |
| Number of shares outstanding at the beginning of the period | 9 264.8220 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -627.1620 |
| Number of shares outstanding at the end of the period | 8 637.6600 |
| Class | U-X-UKdist-mdist |
| Number of shares outstanding at the beginning of the period | 449.8360 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -55.0000 |
| Number of shares outstanding at the end of the period | 394.8360 |

UBS (Lux) Bond SICAV – Emerging Economies Local Currency Bond (USD)
Semi-Annual Report as of 30 November 2022
| Annual Distribution 1 |  |
| --- | --- |
| UBS (Lux) Bond SICAV – Emerging Economies Local Currency Bond (USD) | Ex-Date | Pay-Date | Currency | Amount per share |
| P-dist | 1.8.2022 | 4.8.2022 | USD | 2.04 |
| (EUR hedged) P-dist | 1.8.2022 | 4.8.2022 | EUR | 3.51 |
| (EUR hedged) Q-dist | 1.8.2022 | 4.8.2022 | EUR | 3.78 |
| Monthly Distribution 1 |  |  |  |  |
| UBS (Lux) Bond SICAV – Emerging Economies Local Currency Bond (USD) | Ex-Date | Pay-Date | Currency | Amount per share |
| U-X-UKdist-mdist | 15.7.2022 | 20.7.2022 | USD | 58.82 |
| U-X-UKdist-mdist | 16.8.2022 | 19.8.2022 | USD | 29.61 |
| U-X-UKdist-mdist | 15.9.2022 | 20.9.2022 | USD | 31.65 |
| U-X-UKdist-mdist | 17.10.2022 | 20.10.2022 | USD | 25.02 |
| U-X-UKdist-mdist | 15.11.2022 | 18.11.2022 | USD | 33.51 |
| 1  See note 5 |  |  |  |  |

UBS (Lux) Bond SICAV – Emerging Economies Local Currency Bond (USD) Semi-Annual Report as of 30 November 2022

### Statement of Investments in Securities and other Net Assets as of 30 November 2022
| 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 |  |  |
| Treasury bills, zero coupon |  |  |
| BRL |  |  |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF TB 0.00000% 05.04.19-01.07.23	18 400.00 | 3 244 409.18 | 1.18 |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF 0.00000% 08.01.21-01.07.24	1 300.00 | 202 518.55 | 0.07 |
| Total BRL | 3 446 927.73 | 1.25 |
| Total Treasury bills, zero coupon | 3 446 927.73 | 1.25 |
| Treasury bills, floating rate |  |  |
| BRL |  |  |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF FLR/SELIC 06.04.22-01.09.28	2 400.00 | 5 639 973.12 | 2.05 |
| Total BRL | 5 639 973.12 | 2.05 |
| Total Treasury bills, floating rate | 5 639 973.12 | 2.05 |
| Notes, fixed rate |  |  |
| BRL |  |  |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF 10.00000% 20-01.01.31	13 500.00 | 2 231 438.25 | 0.82 |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF 0.01000% 22-01.01.33	64 000.00 | 10 887 911.89 | 3.96 |
| Total BRL | 13 119 350.14 | 4.78 |
| COP |  |  |
| COP	BOGOTA DISTRIRO CAPITAL-REG-S 9.75000% 07-26.07.28	9 000 000 000.00 | 1 520 895.46 | 0.55 |
| COP	COLOMBIA, REPUBLIC OF 4.37500% 12-21.03.23	15 600 000 000.00 | 3 148 274.71 | 1.15 |
| COP	EMPRESAS PUBLICAS DE MEDELLIN ESP-REG-S 8.37500% 17-08.11.27	6 900 000 000.00 | 1 053 670.15 | 0.38 |
| Total COP | 5 722 840.32 | 2.08 |
| DOP |  |  |
| DOP	DOMINICAN REPUBLIC-REG-S 8.90000% 18-15.02.23	20 150 000.00 | 367 129.86 | 0.13 |
| DOP	DOMINICAN REPUBLIC-REG-S 9.75000% 19-05.06.26	20 000 000.00 | 348 716.78 | 0.13 |
| Total DOP | 715 846.64 | 0.26 |
| MXN |  |  |
| MXN	PETROLEOS MEXICANOS-REG-S 7.19000% 13-12.09.24	42 650.00 | 201 310.38 | 0.07 |
| Total MXN | 201 310.38 | 0.07 |
| PEN |  |  |
| PEN	PERU, REPUBLIC OF-REG-S 5.40000% 19-12.08.34	4 500 000.00 | 963 023.63 | 0.35 |
| PEN	TELEFONICA DEL PERU SAA-REG-S 7.37500% 19-10.04.27	5 000 000.00 | 1 157 949.14 | 0.42 |
| Total PEN | 2 120 972.77 | 0.77 |
| USD |  |  |
| USD	ADANI GREEN ENERGY LTD-REG-S 4.37500% 21-08.09.24	950 000.00 | 849 718.00 | 0.31 |
| USD	CHINA EVERGRANDE GRO-REG-S *DEFAULTED* 12.00000% 20-22.01.24	350 000.00 | 19 250.00 | 0.01 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 4.25000% 12-26.01.23	850 000.00 | 846 440.62 | 0.31 |
| USD	FIRST QUANTUM MINERALS LTD-REG-S 7.50000% 17-01.04.25	900 000.00 | 886 950.00 | 0.32 |
| USD	HTA GROUP LTD/MAURITIUS-REG-S 7.00000% 20-18.12.25	900 000.00 | 828 054.00 | 0.30 |
| USD	IHS NETHERLANDS HOLDCO BV-REG-S 8.00000% 19-18.09.27	785 000.00 | 647 281.56 | 0.24 |
| USD	IPOTEKA-BANK ATIB-REG-S 5.50000% 20-19.11.25	915 000.00 | 774 245.55 | 0.28 |
| USD	LIQUID TELECOMMUNICATIONS FIN-REG-S 5.50000% 21-04.09.26	800 000.00 | 552 000.00 | 0.20 |
| USD	OZTEL HOLDINGS SPC-REG-S 5.62500% 18-24.10.23	825 000.00 | 819 740.62 | 0.30 |
| USD	UNIFIN FINANCIE DE CV-REG-S *DEFAULTED*9.87500% 21-28.01.29	550 000.00 | 19 250.00 | 0.01 |
| USD	VEDANTA RESOURCES PLC-REG-S 7.12500% 13-31.05.23	965 000.00 | 882 975.00 | 0.32 |
| Total USD | 7 125 905.35 | 2.60 |
| UYU |  |  |
| UYU	URUGUAY, REPUBLIC OF 8.25000% 21-21.05.31	26 500 000.00 | 576 729.15 | 0.21 |
| Total UYU | 576 729.15 | 0.21 |
| ZAR |  |  |
| ZAR	SOUTH AFRICA, REPUBLIC OF 6.25000% 06-31.03.36	58 350 000.00 | 2 258 807.37 | 0.82 |
| Total ZAR | 2 258 807.37 | 0.82 |
| Total Notes, fixed rate | 31 841 762.12 | 11.59 |
| Medium term notes, fixed rate |  |  |
| IDR |  |  |
| IDR	EUROPEAN BANK FOR RECONSTR & DEVT 6.45000% 17-13.12.22	42 900 000 000.00 | 2 727 829.54 | 0.99 |
| Total IDR | 2 727 829.54 | 0.99 |
| USD |  |  |
| USD	LEBANON, REPUBLIC OF *DEFAULT* 6.37500% 10-09.03.20	750 000.00 | 43 500.00 | 0.01 |
| USD	REC LTD-REG-S 5.25000% 18-13.11.23	1 400 000.00 | 1 391 950.00 | 0.51 |
| Total USD | 1 435 450.00 | 0.52 |
| Total Medium term notes, fixed rate | 4 163 279.54 | 1.51 |
| Bonds, fixed rate |  |  |
| ARS |  |  |
| ARS	ARGENTINA, REPUBLIC OF 16.00000% 16-17.10.23	9 590 000.00 | 31 784.86 | 0.01 |
| Total ARS | 31 784.86 | 0.01 |

UBS (Lux) Bond SICAV – Emerging Economies Local Currency Bond (USD)
Semi-Annual Report as of 30 November 2022
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| CNY |  |  |  |  |
| CNY | CHINA, PEOPLE’S REPUBLIC OF 3.19000% 19-11.04.24 | 10 000 000.00 | 1 420 926.45 | 0.52 |
| CNY | CHINA, PEOPLE’S REPUBLIC OF 3.29000% 19-23.05.29 | 15 000 000.00 | 2 175 586.87 | 0.79 |
| CNY | CHINA, PEOPLE’S REPUBLIC OF 3.25000% 19-06.06.26 | 15 000 000.00 | 2 157 668.82 | 0.79 |
| CNY | CHINA, PEOPLE’S REPUBLIC OF 2.94000% 19-17.10.24 | 20 000 000.00 | 2 831 779.05 | 1.03 |
| CNY | CHINA, PEOPLE’S REPUBLIC OF 3.13000% 19-21.11.29 | 10 000 000.00 | 1 429 445.19 | 0.52 |
| CNY | CHINA, PEOPLE’S REPUBLIC OF 3.12000% 19-05.12.26 | 11 400 000.00 | 1 630 288.08 | 0.59 |
| CNY | CHINA, PEOPLE’S REPUBLIC OF 2.85000% 20-04.06.27 | 19 000 000.00 | 2 677 549.90 | 0.97 |
| CNY | CHINA, PEOPLE’S REPUBLIC OF 3.81000% 20-14.09.50 | 7 100 000.00 | 1 077 269.29 | 0.39 |
| CNY | CHINA, PEOPLE’S REPUBLIC OF 3.27000% 20-19.11.30 | 18 000 000.00 | 2 607 773.35 | 0.95 |
| CNY | CHINA, PEOPLE’S REPUBLIC OF 3.53000% 21-18.10.51 | 6 000 000.00 | 869 851.38 | 0.32 |
| Total CNY |  |  | 18 878 138.38 | 6.87 |
| COP |  |  |  |  |
| COP | COLOMBIA, REPUBLIC OF 7.50000% 11-26.08.26 | 11 400 000 000.00 | 2 009 898.06 | 0.73 |
| COP | COLOMBIA, REPUBLIC OF 7.75000% 14-18.09.30 | 5 150 000 000.00 | 798 253.54 | 0.29 |
| COP | COLOMBIA, REPUBLIC OF 7.00000% 17-30.06.32 | 8 800 000 000.00 | 1 232 063.66 | 0.45 |
| COP | COLOMBIA, REPUBLIC OF 7.25000% 18-18.10.34 | 1 470 000 000.00 | 199 967.74 | 0.07 |
| COP | COLOMBIA, REPUBLIC OF 7.25000% 20-26.10.50 | 12 700 000 000.00 | 1 492 957.59 | 0.55 |
| COP | COLOMBIA, REPUBLIC OF 9.85000% 07-28.06.27 | 7 150 000 000.00 | 1 316 802.26 | 0.48 |
| Total COP |  |  | 7 049 942.85 | 2.57 |
| CZK |  |  |  |  |
| CZK | CZECH REPUBLIC 1.75000% 21-23.06.32 | 216 270 000.00 | 7 090 609.77 | 2.58 |
| CZK | CZECH REPUBLIC 2.50000% 13-25.08.28 | 27 000 000.00 | 1 013 104.43 | 0.37 |
| CZK | CZECH REPUBLIC-REG-S 0.95000% 15-15.05.30 | 34 200 000.00 | 1 102 809.66 | 0.40 |
| CZK | CZECH REPUBLIC-REG-S 0.45000% 15-25.10.23 | 195 500 000.00 | 7 840 387.19 | 2.85 |
| Total CZK |  |  | 17 046 911.05 | 6.20 |
| EGP |  |  |  |  |
| EGP | EGYPT, REPUBLIC OF 14.36900% 20-20.10.25 | 10 000 000.00 | 372 778.57 | 0.14 |
| EGP | EGYPT, REPUBLIC OF 14.48300% 21-06.04.26 | 25 000 000.00 | 913 251.02 | 0.33 |
| Total EGP |  |  | 1 286 029.59 | 0.47 |
| HUF |  |  |  |  |
| HUF | HUNGARY GOVERNMENT BOND 2.25000% 20-20.04.33 | 760 000 000.00 | 1 135 770.46 | 0.41 |
| HUF | HUNGARY GOVERNMENT BOND 4.75000% 22-24.11.32 | 160 000 000.00 | 307 152.25 | 0.11 |
| HUF | HUNGARY, REPUBLIC OF 6.00000% 06-24.11.23 | 462 900 000.00 | 1 094 814.24 | 0.40 |
| HUF | HUNGARY, REPUBLIC OF 6.75000% 11-22.10.28 | 772 000 000.00 | 1 778 542.20 | 0.65 |
| HUF | HUNGARY, REPUBLIC OF 3.25000% 15-22.10.31 | 441 000 000.00 | 770 067.06 | 0.28 |
| HUF | HUNGARY, REPUBLIC OF 3.00000% 16-27.10.27 | 1 156 000 000.00 | 2 244 917.20 | 0.82 |
| Total HUF |  |  | 7 331 263.41 | 2.67 |
| IDR |  |  |  |  |
| IDR | INDONESIA, REPUBLIC OF 8.25000% 11-15.06.32 | 27 556 000 000.00 | 1 894 402.97 | 0.69 |
| IDR | INDONESIA, REPUBLIC OF 7.00000% 11-15.05.27 | 5 822 000 000.00 | 375 636.61 | 0.14 |
| IDR | INDONESIA, REPUBLIC OF 6.12500% 13-15.05.28 | 52 800 000 000.00 | 3 252 275.79 | 1.18 |
| IDR | INDONESIA, REPUBLIC OF 8.37500% 13-15.03.34 | 12 300 000 000.00 | 856 148.10 | 0.31 |
| IDR | INDONESIA, REPUBLIC OF 9.00000% 13-15.03.29 | 24 100 000 000.00 | 1 694 344.96 | 0.62 |
| IDR | INDONESIA, REPUBLIC OF 8.25000% 15-15.05.36 | 7 800 000 000.00 | 539 948.26 | 0.20 |
| IDR | INDONESIA, REPUBLIC OF 7.50000% 17-15.05.38 | 23 500 000 000.00 | 1 528 175.25 | 0.55 |
| IDR | INDONESIA, REPUBLIC OF 8.25000% 18-15.05.29 | 23 860 000 000.00 | 1 620 595.52 | 0.59 |
| IDR | INDONESIA, REPUBLIC OF 8.37500% 19-15.04.39 | 67 000 000 000.00 | 4 695 513.22 | 1.71 |
| IDR | INDONESIA, REPUBLIC OF 7.50000% 19-15.06.35 | 3 400 000 000.00 | 223 150.90 | 0.08 |
| IDR | INDONESIA, REPUBLIC OF 6.50000% 19-15.06.25 | 3 600 000 000.00 | 229 526.64 | 0.08 |
| IDR | INDONESIA, REPUBLIC OF 7.00000% 19-15.09.30 | 10 700 000 000.00 | 682 204.19 | 0.25 |
| IDR | INDONESIA, REPUBLIC OF 6.50000% 20-15.02.31 | 49 700 000 000.00 | 3 064 487.04 | 1.11 |
| IDR | INDONESIA, REPUBLIC OF 6.37500% 21-15.04.32 | 17 000 000 000.00 | 1 041 731.08 | 0.38 |
| Total IDR |  |  | 21 698 140.53 | 7.89 |
| MXN |  |  |  |  |
| MXN | MEXICO, UNITED MEXICAN STATES 8.00000% 03-07.12.23 | 383 000.00 | 1 924 657.29 | 0.70 |
| MXN | MEXICO, UNITED MEXICAN STATES 10.00000% 05-05.12.24 | 848 300.00 | 4 360 052.26 | 1.59 |
| MXN | MEXICO, UNITED MEXICAN STATES 10.00000% 06-20.11.36 | 265 700.00 | 1 450 107.45 | 0.53 |
| MXN | MEXICO, UNITED MEXICAN STATES 7.50000% 07-03.06.27 | 938 140.00 | 4 521 192.22 | 1.64 |
| MXN | MEXICO, UNITED MEXICAN STATES 8.50000% 09-31.05.29 | 460 000.00 | 2 285 599.40 | 0.83 |
| MXN | MEXICO, UNITED MEXICAN STATES 7.75000% 11-13.11.42 | 339 650.00 | 1 512 861.25 | 0.55 |
| MXN | MEXICO, UNITED MEXICAN STATES 5.75000% 15-05.03.26 | 286 330.00 | 1 318 904.84 | 0.48 |
| MXN | MEXICO, UNITED MEXICAN STATES 8.00000% 17-07.11.47 | 663 200.00 | 3 021 790.26 | 1.10 |
| Total MXN |  | 20 395 164.97 | 7.42 |
| PEN |  |  |  |  |
| PEN | FONDO MIVIVIENDA SA-REG-S 7.00000% 17-14.02.24 | 4 125 000.00 | 1 050 168.46 | 0.38 |
| Total PEN |  |  | 1 050 168.46 | 0.38 |
| PLN |  |  |  |  |
| PLN | POLAND, REPUBLIC OF 4.00000% 12-25.10.23 | 4 600 000.00 | 989 325.76 | 0.36 |
| PLN | POLAND, REPUBLIC OF 2.75000% 13-25.04.28 | 2 000 000.00 | 364 148.99 | 0.13 |
| PLN | POLAND, REPUBLIC OF 3.2500% 14-25.07.25 | 8 500 000.00 | 1 707 582.77 | 0.62 |
| PLN | POLAND, REPUBLIC OF 2.50000% 15-25.07.26 | 15 970 000.00 | 3 018 466.84 | 1.10 |
| PLN | POLAND, REPUBLIC OF 4.00000% 17-25.04.47 | 2 500 000.00 | 380 933.50 | 0.14 |
| PLN | POLAND, REPUBLIC OF 2.50000% 18-25.04.24 | 8 500 000.00 | 1 770 229.52 | 0.64 |
| PLN | POLAND, REPUBLIC OF 2.75000% 19-25.10.29 | 2 000 000.00 | 349 527.52 | 0.13 |
| PLN | POLAND, REPUBLIC OF 2.25000% 19-25.10.24 | 7 900 000.00 | 1 600 324.68 | 0.58 |
| PLN | POLAND, REPUBLIC OF 1.75000% 21-25.04.32 | 36 500 000.00 | 5 378 240.71 | 1.96 |
| Total PLN |  |  | 15 558 780.29 | 5.66 |
| RON |  |  |  |  |
| RON | ROMANIA 3.50000% 15-19.12.22 | 1 275 000.00 | 265 615.69 | 0.10 |
| RON | ROMANIA 5.00000% 18-12.02.29 | 800 000.00 | 144 893.40 | 0.05 |
| RON | ROMANIA 5.80000% 12-26.07.27 | 13 000 000.00 | 2 516 183.71 | 0.91 |
| RON | ROMANIA 5.85000% 13-26.04.23 | 3 000 000.00 | 621 595.32 | 0.23 |
| RON | ROMANIA GOVERNMENT BOND 4.75000% 19-11.10.34 | 9 300 000.00 | 1 445 560.77 | 0.53 |
| Total RON | 4 993 848.89 | 1.82 |

UBS (Lux) Bond SICAV – Emerging Economies Local Currency Bond (USD) Semi-Annual Report as of 30 November 2022
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| RUB |  |  |  |  |
| RUB | RUSSIA, FEDERATION OF 8.15000% 12-03.02.27	317 400 000.00 | 2 136 847.30 | 0.78 |
| RUB | RUSSIA, FEDERATION OF 7.00000% 13-25.01.23 | 49 500 000.00 | 333 251.23 | 0.12 |
| RUB | RUSSIA, FEDERATION OF 7.05000% 13-19.01.28	404 400 000.00 | 2 722 561.58 | 0.99 |
| RUB | RUSSIA, FEDERATION OF 7.00000% 13-16.08.23	163 050 000.00 | 1 097 709.36 | 0.40 |
| RUB | RUSSIA, FEDERATION OF 7.70000% 17-23.03.33	200 780 000.00 | 1 351 720.86 | 0.49 |
| RUB | RUSSIA, FEDERATION OF STEP 18-23.05.29 | 99 200 000.00 | 667 848.93 | 0.24 |
| RUB | RUSSIA, FEDERATION OF 6.90000% 21-23.07.31 | 92 000 000.00 | 619 376.03 | 0.23 |
| Total RUB |  |  | 8 929 315.29 | 3.25 |
| THB |  |  |  |  |
| THB | THAILAND, KINGDOM OF 3.85000% 10-12.12.25 | 31 000 000.00 | 928 464.20 | 0.34 |
| THB | THAILAND, KINGDOM OF 2.12500% 16-17.12.26 | 48 100 000.00 | 1 362 599.96 | 0.49 |
| THB | THAILAND, KINGDOM OF 2.87500% 18-17.12.28	125 700 000.00 | 3 665 039.53 | 1.33 |
| THB | THAILAND, KINGDOM OF 4.87500% 09-22.06.29 | 83 100 000.00 | 2 695 746.80 | 0.98 |
| THB | THAILAND, KINGDOM OF 1.60000% 19-17.12.29 | 14 000 000.00 | 374 787.65 | 0.14 |
| THB | THAILAND, KINGDOM OF 1.58500% 20-17.12.35 | 11 200 000.00 | 264 158.48 | 0.10 |
| THB | THAILAND, KINGDOM OF 3.40000% 15-17.06.36 | 68 000 000.00 | 1 938 573.66 | 0.70 |
| THB | THAILAND, KINGDOM OF 3.30000% 18-17.06.38 | 51 600 000.00 | 1 424 845.37 | 0.52 |
| THB | THAILAND, KINGDOM OF 2.00000% 21-17.06.42 | 69 000 000.00 | 1 496 717.13 | 0.54 |
| THB | THAILAND, KINGDOM OF 4.67500% 13-29.06.44 | 5 450 000.00 | 173 282.65 | 0.06 |
| THB | THAILAND, KINGDOM OF 2.87500% 16-17.06.46 | 64 100 000.00 | 1 507 586.02 | 0.55 |
| THB | THAILAND, KINGDOM OF 3.65000% 10-20.06.31 | 52 700 000.00 | 1 618 681.59 | 0.59 |
| THB | THAILAND, KINGDOM OF 3.77500% 12-25.06.32 | 7 800 000.00 | 241 090.08 | 0.09 |
| THB | THAILAND, KINGDOM OF 2.00000% 21-17.12.31 | 97 685 000.00 | 2 630 327.01 | 0.96 |
| Total THB |  |  | 20 321 900.13 | 7.39 |
| USD |  |  |  |  |
| USD | ENERGEAN ISRAEL FINANCE LTD-144A-REG-S 4.50000% 21-30.03.24 | 830 000.00 | 801 987.50 | 0.29 |
| Total USD |  |  | 801 987.50 | 0.29 |
| UYU |  |  |  |  |
| UYU | URUGUAY, REPUBLIC OF-REG-S 8.50000% 17-15.03.28 | 11 800 000.00 | 271 965.42 | 0.10 |
| Total UYU |  |  | 271 965.42 | 0.10 |
| ZAR |  |  |  |  |
| ZAR | SOUTH AFRICA, REPUBLIC OF 10.5000% 98-21.12.26 | 26 000 000.00 | 1 620 324.59 | 0.59 |
| ZAR | SOUTH AFRICA, REPUBLIC OF 7.00000% 10-28.02.31 | 26 700 000.00 | 1 262 036.71 | 0.46 |
| ZAR | SOUTH AFRICA, REPUBLIC OF 6.50000% 10-28.02.41 | 38 400 000.00 | 1 419 960.27 | 0.52 |
| ZAR | SOUTH AFRICA, REPUBLIC OF 7.75000% 12-28.02.23 | 32 650 000.00 | 1 922 668.46 | 0.70 |
| ZAR | SOUTH AFRICA, REPUBLIC OF 8.75000% 12-28.02.48	144 000 000.00 | 6 657 641.65 | 2.42 |
| ZAR | SOUTH AFRICA, REPUBLIC OF 8.75000% 14-31.01.44 | 41 300 000.00 | 1 908 887.10 | 0.69 |
| ZAR | SOUTH AFRICA, REPUBLIC OF 8.00000% 13-31.01.30 | 48 150 000.00 | 2 510 985.32 | 0.91 |
| ZAR | SOUTH AFRICA, REPUBLIC OF 8.25000% 13-31.03.32 | 17 300 000.00 | 866 301.35 | 0.32 |
| ZAR | SOUTH AFRICA, REPUBLIC OF 8.87500% 15-28.02.35	133 400 000.00 | 6 628 588.12 | 2.41 |
| Total ZAR |  |  | 24 797 393.57 | 9.02 |
| Total Bonds, fixed rate |  | 170 442 735.19 | 62.01 |
| Bonds, floating rate |  |  |  |
| MXN |  |  |  |
| MXN	MEXICAN UDIBONOS 4.500%/MXUDI LINKED 05-22.11.35 | 74 000.00 | 2 993 415.52 | 1.09 |
| Total MXN |  | 2 993 415.52 | 1.09 |
| PLN |  |  |  |
| PLN	POLAND, REPUBLIC OF 2.750%/CPI LINKED 08-25.08.23 | 570 000.00 | 202 372.29 | 0.08 |
| Total PLN |  | 202 372.29 | 0.08 |
| Total Bonds, floating rate |  | 3 195 787.81 | 1.17 |
| Convertible bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	GLOBAL INVESTMENT FINANCIAL *DEFAULT* 11.00000% 96-06.04.06 | 2 000 000.00 | 20.00 | 0.00 |
| Total USD |  | 20.00 | 0.00 |
| Total Convertible bonds, fixed rate |  | 20.00 | 0.00 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 218 730 485.51 | 79.58 |
| Transferable securities and money market instruments traded on another regulated market |  |  |
| Treasury bills, zero coupon |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF TB 0.00000% 18.08.22-16.02.23 | 7 000 000.00 | 6 938 222.13 | 2.52 |
| USD	AMERICA, UNITED STATES OF TB 0.00000% 15.09.22-16.03.23 | 8 000 000.00 | 7 900 585.44 | 2.88 |
| Total USD |  | 14 838 807.57 | 5.40 |
| Total Treasury bills, zero coupon |  | 14 838 807.57 | 5.40 |
| Notes, fixed rate |  |  |  |
| PEN |  |  |  |
| PEN	PERU, REPUBLIC OF-REG-S 6.35000% 16-12.08.28 | 13 650 000.00 | 3 422 527.10 | 1.25 |
| Total PEN |  | 3 422 527.10 | 1.25 |
| Total Notes, fixed rate |  | 3 422 527.10 | 1.25 |

UBS (Lux) Bond SICAV – Emerging Economies Local Currency Bond (USD)
Semi-Annual Report as of 30 November 2022
| Description	Quantity/ | Valuation in USD | as a % |
| --- | --- | --- |
| Nominal | Unrealized gain | of net |
|  | (loss) on Futures/ | assets |
|  | Forward |  |
|  | Exchange Contracts/ |  |
|  | Swaps (Note 1) |  |

Medium term notes, fixed rate
| USD |  |
| --- | --- |
| USD | SHARP EQUIPAMENTOS ELETR-REG-S*DEFAULT* 9.62500% 97-30.10.05 | 1 080 000.00 | 10.80 | 0.00 |
| Total USD |  |  | 10.80 | 0.00 |
| Total Medium term notes, fixed rate |  | 10.80 | 0.00 |
| Bonds, fixed rate |  |  |  |
| COP |  |  |  |
| COP	COLOMBIA, REPUBLIC OF-REG-S 6.00000% 12-28.04.28 | 572 000 000.00 | 87 876.72 | 0.03 |
| Total COP |  | 87 876.72 | 0.03 |
| MYR |  |  |  |
| MYR	MALAYSIA 2.63200% 20-15.04.31 | 19 927 000.00 | 3 976 349.39 | 1.45 |
| MYR	MALAYSIA 3.58200% 22-15.07.32 | 13 500 000.00 | 2 905 284.99 | 1.06 |
| MYR	MALAYSIA 3.73300% 13-15.06.28 | 27 350 000.00 | 6 034 895.11 | 2.20 |
| MYR	MALAYSIA 3.80000% 16-17.08.23 | 3 100 000.00 | 699 808.88 | 0.26 |
| MYR	MALAYSIA 3.82800% 19-05.07.34 | 3 000 000.00 | 644 856.66 | 0.23 |
| MYR	MALAYSIA 3.88500% 19-15.08.29 | 6 018 000.00 | 1 331 307.44 | 0.48 |
| MYR	MALAYSIA 3.95500% 15-15.09.25 | 2 950 000.00 | 664 388.42 | 0.24 |
| MYR	MALAYSIA 4.06500% 20-15.06.50 | 12 100 000.00 | 2 506 869.70 | 0.91 |
| MYR	MALAYSIA 4.07000% 16-30.09.26 | 3 550 000.00 | 799 566.16 | 0.29 |
| MYR	MALAYSIA 4.25400% 15-31.05.35 | 500 000.00 | 110 713.88 | 0.04 |
| MYR	MALAYSIA 4.49800% 10-15.04.30 | 1 950 000.00 | 446 748.40 | 0.16 |
| MYR	MALAYSIA 4.76200% 17-07.04.37 | 7 980 000.00 | 1 875 169.91 | 0.68 |
| MYR	MALAYSIA 4.92100% 18-06.07.48 | 1 100 000.00 | 255 815.85 | 0.09 |
| Total MYR |  | 22 251 774.79 | 8.09 |
| PEN |  |  |  |
| PEN	PERU, REPUBLIC OF 6.95000% 08-12.08.31 | 6 700 000.00 | 1 684 606.53 | 0.61 |
| PEN	PERU, REPUBLIC OF-REG-S 5.35000% 19-12.08.40 | 1 700 000.00 | 336 770.80 | 0.12 |
| Total PEN |  | 2 021 377.33 | 0.73 |
| RUB |  |  |  |
| RUB	RUSSIA, FEDERATION OF 8.50000% 15-17.09.31 | 70 500 000.00 | 474 630.54 | 0.17 |
| RUB	RUSSIA, FEDERATION OF 7.75000% 16-16.09.26 | 206 150 000.00 | 1 387 873.57 | 0.50 |
| RUB	RUSSIA, FEDERATION OF 7.10000% 17-16.10.24 | 35 000 000.00 | 235 632.18 | 0.09 |
| RUB	RUSSIA, FEDERATION OF 7.25000% 18-10.05.34 | 20 000 000.00 | 134 646.96 | 0.05 |
| RUB	RUSSIA, FEDERATION OF 7.65000% 19-10.04.30 | 125 700 000.00 | 846 256.16 | 0.31 |
| RUB	RUSSIA, FEDERATION OF 7.70000% 19-16.03.39 | 114 300 000.00 | 769 507.39 | 0.28 |
| Total RUB |  | 3 848 546.80 | 1.40 |
| USD |  |  |  |
| USD	1MDB GLOBAL INV-REG-S 4.40000% 13-09.03.23 | 1 000 000.00 | 978 937.50 | 0.36 |
| Total USD |  | 978 937.50 | 0.36 |
| Total Bonds, fixed rate |  | 29 188 513.14 | 10.61 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 47 449 858.61 | 17.26 |

Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market
Equities
| Mexico |  |
| --- | --- |
| MXN | HIPOTECARIA SU CASITA SA DE CV | 15 777.00 | 0.01 | 0.00 |
| Total Mexico |  | 0.01 | 0.00 |
| Total Equities |  | 0.01 | 0.00 |
| Investment funds, closed end |  |  |  |
| Bermuda |  |  |  |
| USD	SIDEK CREDITOR TRUST-B1 | 889 210.59 | 8.89 | 0.00 |
| USD	SIDEK CREDITOR TRUST-A1 | 222 274.28 | 2.22 | 0.00 |
| Total Bermuda |  | 11.11 | 0.00 |
| Total Investment funds, closed end |  | 11.11 | 0.00 |
| Domestic Certificates of Deposits, zero coupon |  |  |  |
| USD |  |  |  |
| USD	LOJAS ARAPUA INTL INC-DEFAULT CD 0.00000% 10.06.97-05.06.98 | 1 000 000.00 | 10.00 | 0.00 |
| Total USD |  | 10.00 | 0.00 |
| Total Domestic Certificates of Deposits, zero coupon |  | 10.00 | 0.00 |
| Bonds, fixed rate |  |  |  |
| CNY |  |  |  |
| CNY	CHINA, PEOPLE’S REPUBLIC OF 3.02000% 21-27.05.31 | 10 000 000.00 | 1 415 894.54 | 0.52 |
| Total CNY |  | 1 415 894.54 | 0.52 |

UBS (Lux) Bond SICAV – Emerging Economies Local Currency Bond (USD) Semi-Annual Report as of 30 November 2022
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| THB |  |  |  |  |
| THB | THAILAND, KINGDOM OF 3.39000% 22-17.06.37 | 13 500 000.00 | 384 022.15 | 0.14 |
| Total THB |  |  | 384 022.15 | 0.14 |
| Total Bonds, fixed rate | 1 799 916.69 | 0.66 |
| Total Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market | 1 799 937.81 | 0.66 |
| UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 |  |  |
| Investment funds, open end |  |  |
| Luxembourg |  |  |
| USD	UBS (LUX) BOND SICAV - CHINA HIGH YIELD (USD) U-X-ACC	160.00 | 703 009.60 | 0.26 |
| Total Luxembourg | 703 009.60 | 0.26 |
| Total Investment funds, open end | 703 009.60 | 0.26 |
| Total UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 | 703 009.60 | 0.26 |
| Total investments in securities | 268 683 291.53 | 97.76 |

| Derivative instruments |  |
| --- | --- |
| Derivative instruments listed on an official stock exchange |
| Financial Futures on bonds |
|  |  |  |  |
| USD	US 10YR ULTRA NOTE FUTURE 22.03.23 | -89.00 | 5 609.38 | 0.00 |
| Total Financial Futures on bonds |  | 5 609.38 | 0.00 |
| Total Derivative instruments listed on an official stock exchange |  | 5 609.38 | 0.00 |
| Derivative instruments not listed on an official stock exchange and not traded on | another regulated market |  |  |
| Swaps and forward swaps on interest rates |  |  |  |
|  |  |  |  |
| CLP	HSBC/INTEREST RATE SWAP REC 4.43250% 18-01.10.28 | 1 400 000 000.00 | -109 599.43 | -0.04 |
| CLP	HSBC/INTEREST RATE SWAP PAYER CLICP 18-01.10.28 |  |  |  |
| BRL	CREDIT SUISSE/INTEREST RATE SWAP REC 4.79500% 21-02.01.23 | 51 000 000.00 | -668 862.46 | -0.24 |
| BRL	CREDIT SUISSE/INTEREST RATE SWAP PAYER BZD 21-02.01.23 |  |  |  |
| BRL	CREDIT SUISSE/INTEREST RATE SWAP REC 7.90000% 21-04.01.27 | 47 000 000.00 | -1 178 304.15 | -0.43 |
| BRL	CREDIT SUISSE/INTEREST RATE PAYER BZD 21-04.01.27 |  |  |  |
| BRL	BANK OF AMERI/INTEREST RATE SWAP REC 9.76000% 17-02.01.23 | 15 800 000.00 | 431 725.06 | 0.16 |
| BRL	BANK OF AMERI/INTEREST RATE SWAP PAY BZD 17-02.01.23 |  |  |  |
| MXN	CME/INTEREST RATE SWAP REC 8.78500% 18-26.10.28 | 30 000 000.00 | 11 463.40 | 0.00 |
| MXN	CME/INTEREST RATE SWAP PAY MXI 18-26.10.28 |  |  |  |
| MXN	CME/INTEREST RATE SWAP REC 6.76500% 19-10.10.29 | 43 000 000.00 | -213 898.62 | -0.08 |
| MXN	CME/INTEREST RATE SWAP PAY MXI 19-10.10.29 |  |  |  |
| MXN	CME/INTEREST RATE SWAP REC 5.92750% 20-09.05.30 | 62 000 000.00 | -467 179.39 | -0.17 |
| MXN	CME/INTEREST RATE SWAP PAY MXI 20-09.05.30 |  |  |  |
| CLP	CREDIT SUISSE/INTEREST RATE SWAP REC 4.04000% 19-04.02.29 | 1 000 000 000.00 | -114 328.29 | -0.04 |
| CLP	CREDIT SUISSE/INTEREST RATE SWAP PAY CLICP 19-04.02.29 |  |  |  |
| CLP	CREDIT SUISSE/INTEREST RATE SWAP REC 2.88000% 19-05.08.29 | 3 000 000 000.00 | -579 248.32 | -0.21 |
| CLP	CREDIT SUISSE/INTEREST RATE SWAP PAY CLICP 19-05.08.29 |  |  |  |
| BRL	HSBC/INTEREST RATE SWAP REC 6.53750% 20-04.01.27 | 24 000 000.00 | -783 466.19 | -0.29 |
| BRL	HSBC/INTEREST RATE SWAP PAY BZD 20-04.01.27 |  |  |  |
| CLP	BANK OF AMERI/INTEREST RATE SWAP REC 3.13000% 19-19.11.29 | 900 000 000.00 | -138 545.40 | -0.05 |
| CLP	BANK OF AMERI/INTEREST RATE SWAP PAY CLICP 19-19.11.29 |  |  |  |
| MXN	CME/INTEREST RATE SWAP REC 7.99500% 17-22.12.22 | 70 000 000.00 | -6 325.56 | 0.00 |
| MXN	CME/INTEREST RATE SWAP PAY MXI 17-22.12.22 |  |  |  |
| BRL	GS/INTEREST RATE SWAP REC 12.31000% 22-02.01.29 | 25 000 000.00 | -32 260.69 | -0.01 |
| BRL	GS/INTEREST RATE SWAP PAY BZD 22-02.01.29 |  |  |  |
| Total Swaps and forward swaps on interest rates |  | -3 848 830.04 | -1.40 |
| Total Derivative instruments not listed on an official stock exchange and not traded on another regulated market |  | -3 848 830.04 | -1.40 |
| Total Derivative instruments |  | -3 843 220.66 | -1.40 |
| Forward Foreign Exchange contracts |  |  |  |
| Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date |  |  |  |

| CLP | 6 093 200 000.00 | USD | 6 615 780.50 | 15.12.2022 | 168 258.45 | 0.06 |
| --- | --- | --- | --- | --- | --- | --- |
| MYR | 23 951 000.00 | USD | 5 314 767.56 | 15.12.2022 | 82 154.41 | 0.03 |
| TRY | 30 400 000.00 | USD | 1 554 788.69 | 15.12.2022 | 71 676.52 | 0.03 |
| EGP | 24 000 000.00 | USD | 1 112 656.47 | 15.12.2022 | -142 895.62 | -0.05 |
| CNY | 24 575 000.00 | USD | 3 528 862.72 | 15.12.2022 | -55 940.74 | -0.02 |
| IDR | 37 300 000 000.00 | USD | 2 494 315.90 | 15.12.2022 | -118 777.25 | -0.04 |
| PHP | 12 800 000.00 | USD | 222 585.47 | 15.12.2022 | 3 718.52 | 0.00 |
| USD | 7 202.54 | KRW | 10 000 000.00 | 15.12.2022 | -377.05 | 0.00 |
| USD | 1 832 258.44 | PEN | 7 163 000.00 | 15.12.2022 | -27 836.72 | -0.01 |
| BRL | 122 290 000.00 | USD | 23 156 467.58 | 15.12.2022 | 37 396.28 | 0.01 |
| USD | 3 141 971.03 | COP | 13 780 000 000.00 | 15.12.2022 | 287 371.96 | 0.10 |
| TRY | 25 160 000.00 | USD | 1 279 509.32 | 15.12.2022 | 66 604.65 | 0.02 |
| MXN | 169 110 000.00 | USD | 8 288 387.05 | 15.12.2022 | 420 344.89 | 0.15 |
| ZAR | 17 200 000.00 | USD | 966 370.58 | 15.12.2022 | 44 262.10 | 0.02 |

UBS (Lux) Bond SICAV – Emerging Economies Local Currency Bond (USD)
Semi-Annual Report as of 30 November 2022
| Description	Quantity/ | Valuation in USD | as a % |
| --- | --- | --- |
| Nominal | Unrealized gain | of net |
|  | (loss) on Futures/ | assets |
|  | Forward |  |
|  | Exchange Contracts/ |  |
|  | Swaps (Note 1) |  |

Forward Foreign Exchange contracts (Continued)
Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date
| CZK | 56 510 000.00 | USD | 2 282 135.98 | 15.12.2022 | 105 771.02 | 0.04 |
| --- | --- | --- | --- | --- | --- | --- |
| PLN | 17 455 000.00 | USD | 3 654 411.39 | 15.12.2022 | 180 679.47 | 0.07 |
| THB | 281 690 000.00 | USD | 7 668 243.20 | 15.12.2022 | 330 144.43 | 0.12 |
| RON | 23 319 000.00 | USD | 4 670 974.62 | 15.12.2022 | 190 858.93 | 0.07 |
| USD | 218 939.30 | MXN | 4 460 000.00 | 15.12.2022 | -10 739.28 | 0.00 |
| USD | 249 850.69 | ZAR | 4 440 000.00 | 15.12.2022 | -11 033.56 | 0.00 |
| USD | 318 116.32 | THB | 11 700 000.00 | 15.12.2022 | -14 096.88 | -0.01 |
| USD | 139 973.38 | PLN | 668 000.00 | 15.12.2022 | -6 794.92 | 0.00 |
| USD | 3 625 209.15 | BRL | 19 500 000.00 | 15.12.2022 | -73 215.46 | -0.03 |
| USD | 196 043.96 | MYR | 892 000.00 | 15.12.2022 | -4 952.01 | 0.00 |
| USD | 236 294.90 | CNY | 1 650 000.00 | 15.12.2022 | 3 118.04 | 0.00 |
| HUF | 394 400 000.00 | USD | 952 501.25 | 15.12.2022 | 34 086.15 | 0.01 |
| ZAR | 2 900 000.00 | USD | 162 535.35 | 15.12.2022 | 7 862.02 | 0.00 |
| MXN | 3 530 000.00 | USD | 173 710.68 | 15.12.2022 | 8 075.28 | 0.00 |
| PLN | 650 000.00 | USD | 135 881.07 | 15.12.2022 | 6 932.40 | 0.00 |
| THB | 12 000 000.00 | USD | 326 157.86 | 15.12.2022 | 14 573.62 | 0.01 |
| MYR | 701 000.00 | USD | 153 967.80 | 15.12.2022 | 3 989.79 | 0.00 |
| BRL | 1 400 000.00 | USD | 266 638.73 | 15.12.2022 | -1 110.81 | 0.00 |
| CNY | 1 150 000.00 | USD | 164 396.09 | 15.12.2022 | -1 878.89 | 0.00 |
| USD | 638 559.60 | CZK | 16 300 000.00 | 15.12.2022 | -50 219.10 | -0.02 |
| CLP | 198 000 000.00 | USD | 200 856.17 | 15.12.2022 | 19 592.81 | 0.01 |
| COP | 600 000 000.00 | USD | 133 237.70 | 15.12.2022 | -8 944.56 | 0.00 |
| BRL | 10 500 000.00 | USD | 1 976 284.59 | 15.12.2022 | 15 174.81 | 0.01 |
| KRW | 1 890 000 000.00 | USD | 1 318 819.34 | 15.12.2022 | 113 723.64 | 0.04 |
| ZAR | 34 300 000.00 | USD | 1 910 180.10 | 15.12.2022 | 105 209.49 | 0.04 |
| CLP | 1 190 000 000.00 | USD | 1 227 436.82 | 15.12.2022 | 97 483.80 | 0.04 |
| COP | 6 070 000 000.00 | USD | 1 318 132.46 | 15.12.2022 | -60 700.21 | -0.02 |
| USD | 166 456.78 | TRY | 3 410 000.00 | 15.12.2022 | -15 985.53 | -0.01 |
| USD | 967 476.06 | MXN | 19 600 000.00 | 15.12.2022 | -41 873.75 | -0.02 |
| PLN | 1 130 000.00 | USD | 227 572.95 | 15.12.2022 | 20 702.77 | 0.01 |
| CZK | 6 710 000.00 | USD | 266 603.41 | 15.12.2022 | 16 936.78 | 0.01 |
| USD | 544 327.76 | RON | 2 770 000.00 | 15.12.2022 | -33 196.10 | -0.01 |
| THB | 4 680 000.00 | USD | 124 180.42 | 15.12.2022 | 8 704.86 | 0.00 |
| MYR | 2 680 000.00 | USD | 575 477.78 | 15.12.2022 | 28 411.45 | 0.01 |
| USD | 712 367.49 | CNY | 5 040 000.00 | 15.12.2022 | 118.18 | 0.00 |
| USD | 470 321.54 | IDR | 7 220 000 000.00 | 15.12.2022 | 10 498.78 | 0.00 |
| EGP | 5 230 000.00 | USD | 241 013.82 | 15.12.2022 | -29 686.77 | -0.01 |
| USD | 1 283 748.32 | ZAR | 23 300 000.00 | 15.12.2022 | -85 306.42 | -0.03 |
| USD | 1 343 572.77 | KRW | 1 900 000 000.00 | 15.12.2022 | -96 549.81 | -0.04 |
| USD | 1 447 132.14 | CLP | 1 370 000 000.00 | 15.12.2022 | -78 196.65 | -0.03 |
| USD | 1 388 472.25 | COP | 6 480 000 000.00 | 15.12.2022 | 46 106.36 | 0.02 |
| USD | 112 726.61 | CNY | 804 000.00 | 15.12.2022 | -894.11 | 0.00 |
| USD | 2 828 618.97 | BRL | 15 300 000.00 | 15.12.2022 | -73 221.88 | -0.03 |
| USD | 186 666.45 | ZAR | 3 420 000.00 | 15.12.2022 | -14 284.93 | -0.01 |
| USD | 147 264.21 | PLN | 734 000.00 | 15.12.2022 | -14 005.15 | -0.01 |
| USD | 306 399.03 | THB | 11 700 000.00 | 15.12.2022 | -25 814.17 | -0.01 |
| USD | 235 021.49 | MXN | 4 770 000.00 | 15.12.2022 | -10 621.29 | 0.00 |
| USD | 170 383.68 | MYR | 806 000.00 | 15.12.2022 | -11 233.75 | 0.00 |
| USD | 264 461.75 | IDR | 4 110 000 000.00 | 15.12.2022 | 2 706.69 | 0.00 |
| USD | 112 496.33 | CNY | 804 000.00 | 15.12.2022 | -1 124.39 | 0.00 |
| THB | 14 900 000.00 | USD | 392 839.25 | 15.12.2022 | 30 235.68 | 0.01 |
| BRL | 1 240 000.00 | USD | 232 645.84 | 15.12.2022 | 2 536.03 | 0.00 |
| MYR | 1 050 000.00 | USD | 222 175.20 | 15.12.2022 | 14 423.19 | 0.01 |
| IDR | 4 490 000 000.00 | USD | 289 441.94 | 15.12.2022 | -3 485.68 | 0.00 |
| CNY | 1 460 000.00 | USD | 203 993.24 | 15.12.2022 | 2 332.95 | 0.00 |
| USD | 1 208 732.35 | TRY | 23 600 000.00 | 15.12.2022 | -53 918.27 | -0.02 |
| CZK | 55 400 000.00 | USD | 2 206 339.76 | 15.12.2022 | 134 662.68 | 0.05 |
| CZK | 5 220 000.00 | USD | 212 839.57 | 15.12.2022 | 7 738.64 | 0.00 |
| USD | 202 560.62 | THB | 7 610 000.00 | 15.12.2022 | -13 519.93 | 0.00 |
| RON | 581 000.00 | USD | 118 380.57 | 15.12.2022 | 2 753.50 | 0.00 |
| PLN | 731 000.00 | USD | 154 359.75 | 15.12.2022 | 6 250.47 | 0.00 |
| USD | 739 249.39 | IDR | 11 500 000 000.00 | 15.12.2022 | 6 844.71 | 0.00 |
| COP | 1 520 000 000.00 | USD | 313 323.25 | 15.12.2022 | 1 552.70 | 0.00 |
| BRL | 738 000.00 | USD | 138 160.33 | 15.12.2022 | 1 810.82 | 0.00 |
| USD | 111 388.78 | ZAR | 2 030 000.00 | 15.12.2022 | -7 889.38 | 0.00 |
| USD | 200 675.96 | MYR | 950 000.00 | 15.12.2022 | -13 389.25 | 0.00 |
| USD | 150 641.03 | IDR | 2 350 000 000.00 | 15.12.2022 | 975.73 | 0.00 |
| USD | 113 097.71 | CNY | 816 000.00 | 15.12.2022 | -2 218.84 | 0.00 |
| USD | 109 561.10 | COP | 535 000 000.00 | 15.12.2022 | -1 266.95 | 0.00 |
| USD | 228 369.42 | BRL | 1 230 000.00 | 15.12.2022 | -4 915.82 | 0.00 |
| USD | 5 673 735.81 | CZK | 141 000 000.00 | 15.12.2022 | -284 411.20 | -0.10 |
| IDR | 9 140 000 000.00 | USD | 583 004.84 | 15.12.2022 | -902.34 | 0.00 |
| ZAR | 2 720 000.00 | USD | 148 524.64 | 15.12.2022 | 11 296.34 | 0.00 |
| USD | 563 138.60 | MXN | 11 200 000.00 | 15.12.2022 | -13 632.72 | 0.00 |
| USD | 1 275 853.98 | BRL | 6 580 000.00 | 15.12.2022 | 27 872.75 | 0.01 |
| CNY | 2 960 000.00 | USD | 409 603.54 | 15.12.2022 | 8 701.61 | 0.00 |
| EUR | 24 320 400.00 | USD | 24 126 418.06 | 6.12.2022 | 917 046.93 | 0.33 |
| TRY | 24 600 000.00 | USD | 1 276 183.29 | 15.12.2022 | 39 969.48 | 0.01 |
| EGP | 24 500 000.00 | USD | 993 109.04 | 15.12.2022 | -3 144.84 | 0.00 |
| COP | 13 300 000 000.00 | USD | 2 631 578.95 | 15.12.2022 | 123 585.61 | 0.04 |
| MXN | 24 600 000.00 | USD | 1 252 656.29 | 15.12.2022 | 14 180.71 | 0.01 |
| ZAR | 22 600 000.00 | USD | 1 251 620.39 | 15.12.2022 | 76 303.95 | 0.03 |
| KRW | 1 840 000 000.00 | USD | 1 306 651.14 | 15.12.2022 | 87 993.88 | 0.03 |
| CNY | 8 940 000.00 | USD | 1 250 524.55 | 15.12.2022 | 12 870.06 | 0.00 |
| USD | 192 854.31 | CZK | 4 900 000.00 | 15.12.2022 | -14 201.86 | -0.01 |
| EUR | 423 900.00 | USD | 427 827.01 | 6.12.2022 | 8 675.88 | 0.00 |
| USD | 255 404.89 | EUR | 254 600.00 | 6.12.2022 | -6 764.57 | 0.00 |
| USD | 2 620 928.89 | BRL | 13 600 000.00 | 15.12.2022 | 41 514.80 | 0.01 |
| BRL | 4 400 000.00 | USD | 820 283.37 | 15.12.2022 | 14 232.95 | 0.01 |
| BRL | 14 200 000.00 | USD | 2 649 253.73 | 15.12.2022 | 43 958.04 | 0.02 |
| IDR | 38 000 000 000.00 | USD | 2 455 256.19 | 15.12.2022 | -35 136.38 | -0.01 |
| USD | 163 258.24 | CZK | 3 850 000.00 | 15.12.2022 | 571.25 | 0.00 |

UBS (Lux) Bond SICAV – Emerging Economies Local Currency Bond (USD) Semi-Annual Report as of 30 November 2022
| Description	Quantity/ | Valuation in USD | as a % |
| --- | --- | --- |
| Nominal | Unrealized gain | of net |
|  | (loss) on Futures/ | assets |
|  | Forward |  |
|  | Exchange Contracts/ |  |
|  | Swaps (Note 1) |  |

Forward Foreign Exchange contracts (Continued)
Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date
| USD | 269 326.40 | ZAR | 4 670 000.00 | 15.12.2022 | -5 072.12 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 485 244.91 | THB | 17 300 000.00 | 15.12.2022 | -5 976.31 | 0.00 |
| USD | 222 979.69 | CNY | 1 570 000.00 | 15.12.2022 | 1 108.38 | 0.00 |
| USD | 381 335.90 | MYR | 1 750 000.00 | 15.12.2022 | -12 994.75 | 0.00 |
| CNY | 29 300 000.00 | USD | 4 182 129.60 | 15.12.2022 | -41 473.89 | -0.03 |
| EUR | 715 000.00 | USD | 742 033.51 | 6.12.2022 | -5 775.99 | 0.00 |
| IDR | 3 350 000 000.00 | USD | 214 238.96 | 15.12.2022 | -886.29 | 0.00 |
| USD | 5 184 428.13 | BRL | 27 900 000.00 | 15.12.2022 | -107 164.00 | -0.04 |
| USD | 278 862.52 | MXN | 5 410 000.00 | 15.12.2022 | 261.37 | 0.00 |
| USD | 1 376 910.83 | KRW | 1 860 000 000.00 | 15.12.2022 | -32 893.38 | -0.01 |
| USD | 2 670 094.94 | COP | 13 500 000 000.00 | 15.12.2022 | -126 500.67 | -0.05 |
| USD | 1 456 827.48 | CNY | 10 400 000.00 | 15.12.2022 | -12 893.32 | 0.00 |
| USD | 137 308.94 | PLN | 627 000.00 | 15.12.2022 | -451.13 | 0.00 |
| USD | 1 635 777.73 | MXN | 32 000 000.00 | 15.12.2022 | -12 140.32 | 0.00 |
| USD | 181 204.20 | MYR | 821 000.00 | 15.12.2022 | -3 793.21 | 0.00 |
| USD | 138 389.37 | PEN | 531 000.00 | 15.12.2022 | 498.75 | 0.00 |
| USD | 198 528.01 | ZAR | 3 440 000.00 | 15.12.2022 | -3 598.53 | 0.00 |
| USD | 185 130.11 | BRL | 996 000.00 | 15.12.2022 | -3 774.04 | 0.00 |
| USD | 388 785.15 | EUR | 378 300.00 | 6.12.2022 | -762.01 | 0.00 |
| USD | 158 006.86 | MXN | 3 070 000.00 | 15.12.2022 | -90.28 | 0.00 |
| USD | 209 823.98 | THB | 7 560 000.00 | 15.12.2022 | -4 836.85 | 0.00 |
| USD | 181 469.65 | IDR | 2 840 000 000.00 | 15.12.2022 | 597.54 | 0.00 |
| KRW | 1 840 000 000.00 | USD | 1 387 213.51 | 15.12.2022 | 7 431.51 | 0.00 |
| USD | 1 425 052.88 | ZAR | 24 200 000.00 | 15.12.2022 | 3 116.20 | 0.00 |
| USD | 2 776 525.16 | MXN | 53 900 000.00 | 15.12.2022 | 813.19 | 0.00 |
| Total Forward Foreign Exchange contracts | 2 246 584.75 | 0.82 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 8 293 100.59* | 3.02 |
| Other assets and liabilities | -535 650.55 | -0.20 |
| Total net assets | 274 844 105.66 | 100.00 |

* As at 30 November 2022, cash amounts serve as collateral for the counterparty Credit Suisse for an amount of USD 2 530 000.00, HSBC Bank for an amount of USD 972 000.00, JP Morgan for an amount of USD 161 092.00 and Morgan Stanley London for an amount of USD 304 000.00.
UBS (Lux) Bond SICAV – Emerging Economies Local Currency Bond (USD)
Semi-Annual Report as of 30 November 2022

Translation (ENFR, 2022-11-30):
# UBS (Lux) Bond SICAV
– Asian Investment Grade Bonds Sustainable (USD)
| Données principales |  |
| --- | --- |
|  | ISIN | 30.11.2022 | 31.5.2022 | 31.5.2021 |
| Actif net en USD |  | 106 931 374.15 | 133 158 299.76 | 89 439 023.89 |
| Catégorie I-B-acc | LU1377678567 |  |  |  |
| Actions en circulation |  | 132 407.0000 | 184 428.0000 | 142 946.0000 |
| Valeur nette d’inventaire par action en USD |  | 113.89 | 118.12 | 128.30 |
| Prix d’émission et de rachat par action en USD 1 |  | 114.19 | 118.12 | 128.30 |
| Catégorie U-X-acc | LU1377216947 |  |  |  |
| Actions en circulation |  | 8 028.7420 | 9 389.7600 | 5 522.0000 |
| Valeur nette d’inventaire par action en USD |  | 11 440.32 | 11 861.19 | 12 875.47 |
| Prix d’émission et de rachat par action en USD 1 |  | 11 470.06 | 11 861.19 | 12 875.47 |
| 1  Voir note 1 |  |  |  |  |


## Structure du portefeuille-titres
Répartition géographique en % de l’actif net	
| Iles Caïmans | 14.54 |
| --- | --- |
| Hong Kong | 13.09 |
| Îles Vierges britanniques | 12.16 |
| Chine | 10.58 |
| Indonésie | 8.14 |
| Corée du Sud | 7.60 |
| Singapour | 7.54 |
| Etats-Unis | 5.19 |
| Inde | 4.29 |
| Philippines | 3.78 |
| Thaïlande | 2.80 |
| Japon | 2.54 |
| Malaisie | 1.75 |
| Grande-Bretagne | 1.24 |
| Macao | 0.27 |
| France | 0.23 |
| Total | 95.74 |

Répartition économique en % de l’actif net	
| Etablissements financiers et sociétés de participation | 30.86 |
| --- | --- |
| Banques & instituts de crédit | 23.42 |
| Gouvernements nationaux et centraux | 12.66 |
| Internet, logiciels et services informatiques | 4.31 |
| Emetteurs d’obligations sécurisées (Pfandbriefe) et |  |
| sociétés de refinancement | 3.25 |
| Services divers | 3.19 |
| Chimie | 2.95 |
| Pétrole | 2.61 |
| Industrie graphique, édition et médias | 2.37 |
| Télécommunications | 2.30 |
| Immobilier | 1.99 |
| Diverses sociétés commerciales | 1.42 |
| Trafic et transport | 0.96 |
| Industrie minière, charbon et acier | 0.88 |
| Villes, communes | 0.79 |
| Distribution d’énergie & d’eau | 0.70 |
| Alimentation & softs | 0.61 |
| Equipement informatique et de réseau | 0.47 |
| Total | 95.74 |

UBS (Lux) Bond SICAV – Asian Investment Grade Bonds Sustainable (USD)
Rapport semestriel au 30 novembre 2022

## Etat des actifs nets
Actif	30.11.2022
USD
Portefeuille-titres, cours d’achat	113 041 390.62
| Portefeuille-titres, plus- (moins-) value non-réalisée | 	-10 665 744.40	 |
| --- | --- |
| Total portefeuille-titres (note 1) | 102 375 646.22 |
| Avoirs en banque, dépôts à vue et à terme | 3 891 887.88 |
| Autres liquidités (marges) | 390 612.56 |
| A recevoir sur ventes de titres (note 1) | 2 688 192.35 |
| Intérêts à recevoir sur titres | 846 142.76 |
| Frais payés d’avance | 21 517.94 |
| Bénéfice non réalisé sur contrats financiers à terme (note 1) | 8 627.73 |
| Total Actif | 110 222 627.44 |
|  |  |
| Passif |  |
| Crédit en compte courant | -137 580.12 |
| A payer sur achats de titres (note 1) | -3 143 075.32 |
| Provisions pour commission de gestion forfaitaire (note 2) | -821.85 |
| Provisions pour taxe d’abonnement (note 3) | -1 772.51 |
| Provisions pour autres commissions et frais (note 2) | 	-8 003.49	 |
| Total des Provisions pour frais | -10 597.85 |
| Total Passif | -3 291 253.29 |
|  |  |
| Actifs nets à la fin de la période | 106 931 374.15 |
| Etat des opérations | USD |
| Revenus | 1.6.2022-30.11.2022 |
| Revenus d’intérêts sur liquidités | 29 736.42 |
| Intérêts sur titres | 1 938 997.98 |
| Revenus nets sur prêts de titres (note 11) | 40 726.52 |
| Autres revenus (note 4) | 36 876.28 |
| Total des Revenus | 2 046 337.20 |
|  |  |
| Charges |  |
| Commission de gestion forfaitaire (note 2) | -6 068.03 |
| Taxe d’abonnement (note 3) | -5 680.70 |
| Autres commissions et frais (note 2) | -7 842.62 |
| Charges d’intérêts sur liquidités et crédit en compte courant | -1 085.36 |
| Total des Charges | -20 676.71 |
|  |  |
| Revenus (Pertes) net(te)s des investissements | 2 025 660.49 |
|  |  |
| Bénéfices (pertes) réalisé(e)s (note 1) |  |
| Bénéfice (perte) réalisé(e) sur titres évalués à la valeur de marché hors options | -7 361 038.49 |
| Bénéfice (perte) réalisé(e) sur contrats financiers à terme | -1 019 302.88 |
| Bénéfice (perte) réalisé(e) de change réalisé(e) | -2 551.74 |
| Total des Bénéfices (pertes) réalisé(e)s | -8 382 893.11 |
|  |  |
| Bénéfice (perte) net(te) réalisé(e) au cours de la période | -6 357 232.62 |
|  |  |
| Variations des plus- (moins-) values non-réalisées (note 1) |  |
| Plus- (Moins-) value non réalisée sur titres évalués à la valeur de marché hors options | 1 283 947.92 |
| Plus- (Moins-) value non réalisée sur contrats financiers à terme | 132 604.32 |
| Total des Variations des plus- (moins-) values non-réalisées | 1 416 552.24 |
|  |  |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | -4 940 680.38 |

UBS (Lux) Bond SICAV – Asian Investment Grade Bonds Sustainable (USD) Rapport semestriel au 30 novembre 2022
| Variations de l’actif net |  |
| --- | --- |
|  | USD |
|  | 1.6.2022-30.11.2022 |
| Actif net au début de la période | 133 158 299.76 |
| Souscriptions | 2 560 994.01 |
| Rachats | 	-23 847 239.24	 |
| Souscriptions (Rachats) net(te)s | -21 286 245.23 |
| Revenus (Pertes) net(te)s des investissements | 2 025 660.49 |
| Total des Bénéfices (pertes) réalisé(e)s | -8 382 893.11 |
| Total des Variations des plus- (moins-) values non-réalisées | 	1 416 552.24	 |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | -4 940 680.38 |
| Actifs nets à la fin de la période | 106 931 374.15 |
| Evolution des actions en circulation |  |
|  | 1.6.2022-30.11.2022 |
| Catégorie | I-B-acc |
| Nombre d’actions en circulation au début de la période | 184 428.0000 |
| Nombre d’actions émises | 0.0000 |
| Nombre d’actions rachetées | -52 021.0000 |
| Nombre d’actions en circulation à la fin de la période | 132 407.0000 |
| Catégorie | U-X-acc |
| Nombre d’actions en circulation au début de la période | 9 389.7600 |
| Nombre d’actions émises | 222.9820 |
| Nombre d’actions rachetées | -1 584.0000 |
| Nombre d’actions en circulation à la fin de la période | 8 028.7420 |

UBS (Lux) Bond SICAV – Asian Investment Grade Bonds Sustainable (USD)
Rapport semestriel au 30 novembre 2022

## Etat du portefeuille-titres et autres actifs nets au 30 novembre 2022
| 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	ADANI PORTS & SPL ECO ZONE LTD-REG-S 5.00000% 21-02.08.41 | 600 000.00 | 424 612.50 | 0.40 |
| USD	AIRPORT AUTHORITY-REG-S 3.25000% 22-12.01.52 | 1 150 000.00 | 840 508.77 | 0.79 |
| USD	ALIBABA GROUP HOLDING LTD 3.60000% 15-28.11.24 | 200 000.00 | 192 286.00 | 0.18 |
| USD	ALIBABA GROUP HOLDING LTD 2.80000% 17-06.06.23 | 700 000.00 | 690 711.00 | 0.65 |
| USD	ALIBABA GROUP HOLDING LTD 3.15000% 21-09.02.51 | 850 000.00 | 541 033.50 | 0.51 |
| USD	AMBER CIRCLE FUNDING LTD-REG-S 3.25000% 12-04.12.22 | 1 290 000.00 | 1 289 742.00 | 1.21 |
| USD	BAIDU INC 3.07500% 20-07.04.25 | 250 000.00 | 234 757.50 | 0.22 |
| USD	BAIDU INC 4.12500% 15-30.06.25 | 750 000.00 | 720 712.50 | 0.67 |
| USD	BHARTI AIRTEL LTD-REG-S 4.37500% 15-10.06.25 | 800 000.00 | 773 150.00 | 0.72 |
| USD	CITIC LTD-REG-S 6.80000% 12-17.01.23 | 500 000.00 | 500 990.00 | 0.47 |
| USD	CK HUTCHISON INTERNATIONAL 20 LTD-REG-S 2.50000% 20-08.05.30 | 250 000.00 | 210 206.94 | 0.20 |
| USD	CK HUTCHISON INTNL 17 II LTD-REG-S 2.75000% 17-29.03.23 | 1 500 000.00 | 1 489 300.80 | 1.39 |
| USD	CNAC HK FINBRIDGE CO LTD-REG-S 5.12500% 18-14.03.28 | 600 000.00 | 566 925.00 | 0.53 |
| USD	CNAC HK FINBRIDGE CO LTD-REG-S 3.00000% 20-22.09.30 | 200 000.00 | 159 966.00 | 0.15 |
| USD	FRANSHION BRILLIANT LTD-REG-S 4.25000% 19-23.07.29 | 200 000.00 | 130 725.00 | 0.12 |
| USD	HAIDILAO INTERNATIONAL HOLDING-REG-S 2.15000% 21-14.01.26 | 400 000.00 | 334 000.00 | 0.31 |
| USD	HKT CAPITAL NO 4 LTD-REG-S 3.00000% 16-14.07.26 | 1 500 000.00 | 1 382 801.90 | 1.29 |
| USD	HUARONG FINANCE 2017 CO-REG-S 4.75000% 17-27.04.27 | 1 000 000.00 | 843 000.00 | 0.79 |
| USD	INDOFOOD CBP SUKSES MAKMUR TBK PT-REG-S 3.39800% 21-09.06.31 | 400 000.00 | 322 000.00 | 0.30 |
| USD	INDONESIA, REPUBLIC OF 4.10000% 18-24.04.28 | 1 500 000.00 | 1 461 843.75 | 1.37 |
| USD	INDONESIA, REPUBLIC OF 3.70000% 19-30.10.49 | 1 775 000.00 | 1 360 289.00 | 1.27 |
| USD	INDONESIA, REPUBLIC OF 4.65000% 22-20.09.32 | 625 000.00 | 614 131.25 | 0.57 |
| USD	INDONESIA, REPUBLIC OF-REG-S 5.25000% 12-17.01.42 | 200 000.00 | 195 662.50 | 0.18 |
| USD	KOREA NATIONAL OIL CORP-REG-S 2.62500% 16-14.04.26 | 300 000.00 | 276 806.25 | 0.26 |
| USD	KOREA NATIONAL OIL CORP-REG-S 2.62500% 22-18.04.32 | 300 000.00 | 239 688.00 | 0.22 |
| USD	LENOVO GROUP LTD-REG-S 3.42100% 20-02.11.30 | 400 000.00 | 307 950.00 | 0.29 |
| USD	LENOVO GROUP LTD-REG-S 6.53600% 22-27.07.32 | 200 000.00 | 191 748.00 | 0.18 |
| USD	LEVC FINANCE LTD-REG-S 1.37500% 21-25.03.24 | 1 600 000.00 | 1 519 808.00 | 1.42 |
| USD	LG CHEM LTD-REG-S 2.37500% 21-07.07.31 | 1 250 000.00 | 973 612.50 | 0.91 |
| USD	MALAYSIA SOVEREIGN SUKUK BHD-REG-S 3.04300% 15-22.04.25 | 800 000.00 | 771 900.00 | 0.72 |
| USD	MEITUAN DIANPING-REG-S 3.05000% 20-28.10.30 | 1 396 000.00 | 1 029 375.50 | 0.96 |
| USD	NORINCHUKIN BANK/THE REG-S 4.86700% 22-14.09.27 | 200 000.00 | 198 281.42 | 0.19 |
| USD	NORINCHUKIN BANK/THE-REG-S 5.07100% 22-14.09.32 | 200 000.00 | 196 620.36 | 0.18 |
| USD	PERUSAHAAN PENERBIT SBSN INDONESI-REG-S 4.40000% 22-06.06.27 | 1 500 000.00 | 1 475 906.25 | 1.38 |
| USD	PHILIPPINES, REPUBLIC OF THE 5.60900% 22-13.04.33 | 300 000.00 | 316 158.00 | 0.30 |
| USD	PHILIPPINES, REPUBLIC OF THE 5.17000% 22-13.10.27 | 825 000.00 | 841 590.75 | 0.79 |
| USD	POSCO-REG-S 4.50000% 22-04.08.27 | 1 000 000.00 | 936 970.00 | 0.88 |
| USD	RELIANCE INDUSTRIES LTD-REG-S 2.87500% 22-12.01.32 | 1 150 000.00 | 944 403.00 | 0.88 |
| USD	RELIANCE INDUSTRIES LTD-REG-S 3.62500% 22-12.01.52 | 750 000.00 | 506 859.37 | 0.47 |
| USD	SHINHAN BANK CO LTD-REG-S 3.87500% 18-05.11.23 | 400 000.00 | 395 220.00 | 0.37 |
| USD	SHINHAN CARD CO LTD-REG-S 2.50000% 22-27.01.27 | 750 000.00 | 648 090.00 | 0.61 |
| USD	STATE BANK OF INDIA LONDON-REG-S 4.87500% 14-17.04.24 | 1 200 000.00 | 1 188 225.00 | 1.11 |
| USD	STATE BANK OF INDIA LONDON-REG-S 4.37500% 19-24.01.24 | 1 100 000.00 | 1 083 706.25 | 1.01 |
| USD	STATE BANK OF INDIA LONDON-REG-S 4.50000% 18-28.09.23 | 250 000.00 | 247 792.50 | 0.23 |
| USD	SUMITOMO MITSUI TRUST BANK LTD-REG-S 4.95000% 22-15.09.27 | 1 100 000.00 | 1 089 347.71 | 1.02 |
| USD	TENCENT HOLDINGS LTD-REG-S 3.28000% 19-11.04.24 | 300 000.00 | 291 054.00 | 0.27 |
| USD	TSMC GLOBAL LTD-REG-S 2.25000% 21-23.04.31 | 1 650 000.00 | 1 333 843.50 | 1.25 |
| USD	WOORI BANK-REG-S 1.75000% 21-23.03.26 | 1 500 000.00 | 1 318 260.00 | 1.23 |
| Total USD |  | 33 602 572.27 | 31.42 |
| Total des Billets, taux fixe |  | 33 602 572.27 | 31.42 |
| Billets, taux variable |  |  |  |
| USD |  |  |  |
| USD	BANGKOK BANK -REG-S-SUB 3.466%/VAR 21-23.09.36 | 700 000.00 | 549 843.00 | 0.51 |
| USD	IND & COM BK CHINA MACAU-REG-S-SUB 2.875%/VAR 19-12.09.29 | 300 000.00 | 285 018.00 | 0.27 |
| USD	OVERSEA-CHINESE BKNG-REG-S-SUB 1.832%/VAR 20-10.09.30 | 2 375 000.00 | 2 121 065.00 | 1.98 |
| Total USD |  | 2 955 926.00 | 2.76 |
| Total des Billets, taux variable |  | 2 955 926.00 | 2.76 |
| Medium-Term Notes, taux fixe |  |  |  |
| USD |  |  |  |
| USD	BANGKOK BANK PCL/HONG KONG-REG-S 4.30000% 22-15.06.27 | 400 000.00 | 386 240.00 | 0.36 |
| USD	BANGKOK BANK PUBLIC CO LTD-REG-S 5.00000% 13-03.10.23 | 700 000.00 | 697 943.75 | 0.65 |
| USD	BANK MANDIRI PERSERO TBK PT-REG-S 4.75000% 20-13.05.25 | 1 200 000.00 | 1 169 100.00 | 1.09 |
| USD	BANK OF CHINA LTD/PARIS 0.95000% 20-21.09.23 | 250 000.00 | 242 265.00 | 0.23 |
| USD	BANK OF CHINA/HONG KONG-REG-S 3.62500% 19-17.04.29 | 200 000.00 | 187 604.00 | 0.18 |
| USD	BANK OF EAST ASIA LTD-REG-S-SUB 4.00000% 20-29.05.30 | 250 000.00 | 222 500.00 | 0.21 |
| USD	BANKOK BANK PCL HONG KONG-REG-S 4.05000% 18-19.03.24 | 200 000.00 | 196 662.50 | 0.18 |
| USD	BDO UNIBANK INC-REG-S 2.95000% 17-06.03.23 | 500 000.00 | 494 781.25 | 0.46 |
| USD	BDO UNIBANK INC-REG-S 2.12500% 20-13.01.26 | 250 000.00 | 225 000.00 | 0.21 |
| USD	BOC AVIATION LTD-REG-S 3.50000% 19-10.10.24 | 300 000.00 | 285 372.00 | 0.27 |
| USD	BOC AVIATION LTD-REG-S 4.00000% 19-25.01.24 | 1 000 000.00 | 976 760.00 | 0.91 |
| USD	BOC AVIATION LTD-REG-S 2.75000% 20-02.12.23 | 800 000.00 | 775 328.00 | 0.73 |
| USD	BOCOM LEASING MGT HONG KONG-REG-S 4.37500% 19-22.01.24 | 1 500 000.00 | 1 478 250.00 | 1.38 |
| USD	BOCOM LEASING MGT HONG KONG-REG-S 1.75000% 20-14.07.23 | 1 000 000.00 | 978 210.00 | 0.91 |
| USD	CDBL FUNDING 1-REG-S 3.50000% 20-24.10.27 | 900 000.00 | 822 195.00 | 0.77 |
| USD	CDBL FUNDING 2-REG-S 2.00000% 21-04.03.26 | 1 200 000.00 | 1 081 632.00 | 1.01 |
| USD	CHINA CINDA 2020 I MANAGEMENT LTD-REG-S 3.12500% 20-18.03.30 | 1 200 000.00 | 968 640.00 | 0.91 |
| USD	CITIC LTD-REG-S 2.85000% 20-25.02.30 | 200 000.00 | 167 304.00 | 0.16 |
| USD	CITIC LTD-REG-S 3.50000% 22-17.02.32 | 1 375 000.00 | 1 166 440.00 | 1.09 |
| USD	CK PROPERTY FINANCE MTN LTD-REG-S 0.75000% 21-30.06.24 | 800 000.00 | 744 896.00 | 0.70 |
| USD	CMB INTERNATIONAL LEASING MGT LTD-REG-S 2.75000% 20-12.08.30 | 1 275 000.00 | 969 637.50 | 0.91 |
| USD	FAR EAST HORIZON LTD-REG-S 3.37500% 20-18.02.25 | 800 000.00 | 657 650.00 | 0.62 |

UBS (Lux) Bond SICAV – Asian Investment Grade Bonds Sustainable (USD) Rapport semestriel au 30 novembre 2022
|  | Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| USD | GC TREASURY CENTER CO LTD-REG-S 4.30000% 21-18.03.51 | 325 000.00 | 228 373.44 | 0.21 |
| USD | GC TREASURY CENTER CO LTD-REG-S 5.20000% 22-30.03.52 | 300 000.00 | 239 962.50 | 0.22 |
| USD | GLP CHINA HOLDINGS LTD-REG-S 2.95000% 21-29.03.26 | 200 000.00 | 126 412.50 | 0.12 |
| USD | HONG KONG GOVERNMEN INT BD-REG-S 0.62500% 21-02.02.26 | 1 000 000.00 | 896 200.05 | 0.84 |
| USD | HUARONG FINANCE-REG-S 4.50000% 19-29.05.29 | 450 000.00 | 357 131.25 | 0.33 |
| USD | ICBCIL FINANCE CO LTD-REG-S 3.62500% 16-19.05.26 | 250 000.00 | 237 859.37 | 0.22 |
| USD | ICBCIL FINANCE CO LTD-REG-S 1.62500% 21-02.11.24 | 1 200 000.00 | 1 113 324.00 | 1.04 |
| USD | INDONESIA, REPUBLIC OF-REG-S 4.75000% 17-18.07.47 | 350 000.00 | 316 815.63 | 0.30 |
| USD | INDUSTRIAL & COMME BK OF CHINA/HK-REG-S 1.20000% 20-20.07.25 | 800 000.00 | 726 296.00 | 0.68 |
| USD | INDUSTRIAL COMMERCIAL BANK CHINA-REG-S 1.20000% 20-09.09.25 | 325 000.00 | 293 611.50 | 0.27 |
| USD | INDUSTRIAL COMMERCIAL BANK CHINA-REG-S 1.00000% 20-09.09.23 | 500 000.00 | 485 240.00 | 0.45 |
| USD | INVENTIVE GLOBAL INVESTMENTS LTD-REG-S 1.65000% 20-03.09.25 | 3 135 000.00 | 2 822 783.47 | 2.64 |
| USD | KASIKORNBANK PCL/HONG KONG-REG-S 3.25600% 18-12.07.23 | 1 385 000.00 | 1 368 812.81 | 1.28 |
| USD | NAN FUNG TREASURY LTD-REG-S 3.62500% 20-27.08.30 | 530 000.00 | 397 295.91 | 0.37 |
| USD | PERTAMINA PERSERO PT-REG-S 4.70000% 19-30.07.49 | 1 000 000.00 | 826 437.50 | 0.77 |
| USD | PERTAMINA PT-REG-S 6.45000% 14-30.05.44 | 450 000.00 | 457 396.88 | 0.43 |
| USD | PTT TREASURY CENTER CO LTD-REG-S 4.50000% 19-25.10.42 | 353 000.00 | 285 224.00 | 0.27 |
| USD | REC LTD-REG-S 2.25000% 21-01.09.26 | 850 000.00 | 746 565.62 | 0.70 |
| USD | RHB BANK BHD-REG-S 3.76600% 19-19.02.24 | 930 000.00 | 911 574.38 | 0.85 |
| USD | SHINHAN FIN GROUP CO LTD-REG-S 1.35000% 20-10.01.26 | 1 025 000.00 | 907 934.75 | 0.85 |
| USD | SIAM COMMERCIAL BK CAYMAN ISLAND-REG-S 2.75000% 17-16.05.23 | 1 164 000.00 | 1 151 487.00 | 1.08 |
| USD | SIAM COMMERCIAL BK CAYMAN ISLAND-REG-S 3.90000% 19-11.02.24 | 2 000 000.00 | 1 968 500.00 | 1.84 |
| USD | SINGAPORE AIRLINES LTD-REG-S 3.00000% 21-20.07.26 | 650 000.00 | 600 978.24 | 0.56 |
| USD | SINGAPORE EXCHANGE LTD-REG-S 1.23400% 21-03.09.26 | 600 000.00 | 523 379.14 | 0.49 |
| USD | SINGTEL GROUP TREASURY PTE LTD-REG-S 3.25000% 15-30.06.25 | 200 000.00 | 191 150.38 | 0.18 |
| USD | SINGTEL GROUP TREASURY PTE LTD-REG-S 3.87500% 18-28.08.28 | 350 000.00 | 333 008.41 | 0.31 |
| USD | SP POWERASSETS LTD-REG-S 3.25000% 15-24.11.25 | 200 000.00 | 191 229.54 | 0.18 |
| USD | STATE GRID OVERSEAS INVESTMENT-REG-S 3.50000% 17-04.05.27 | 200 000.00 | 190 820.00 | 0.18 |
| USD | STATE GRID OVERSEAS INVESTMENT-REG-S 4.25000% 18-02.05.28 | 2 800 000.00 | 2 727 900.00 | 2.55 |
| USD | SUMITOMO CORP-REG-S 1.55000% 21-06.07.26 | 1 400 000.00 | 1 230 199.01 | 1.15 |
| USD | SUN HUNG KAI PROP CAP MRKT LTD-REG-S 2.87500% 20-21.01.30 | 400 000.00 | 340 161.92 | 0.32 |
| USD | SUN HUNG KAI PROPERTIES CAPITAL-REG-S 3.62500% 12-16.01.23 | 1 500 000.00 | 1 497 330.00 | 1.40 |
| USD | SWIRE PACIFIC MTN FINANCING LTD-REG-S 4.50000% 13-09.10.23 | 1 000 000.00 | 993 315.00 | 0.93 |
| USD | SWIRE PROPERTIES MTN FINANCING-REG-S 3.62500% 16-13.01.26 | 1 000 000.00 | 967 552.99 | 0.90 |
| USD | TEMASEK FINANCIAL I LTD-REG-S 2.50000% 20-06.10.70 | 250 000.00 | 151 493.60 | 0.14 |
| USD | TENCENT HOLDINGS LTD-REG-S 3.97500% 19-11.04.29 | 2 200 000.00 | 2 002 412.49 | 1.87 |
| USD | TENCENT HOLDINGS LTD-REG-S 3.24000% 20-03.06.50 | 400 000.00 | 246 075.00 | 0.23 |
| USD | THAIOIL TREASURY CENTER CO LTD-REG-S 3.50000% 19-17.10.49 | 1 650 000.00 | 989 278.13 | 0.93 |
| USD | VANKE REAL ESTAT HONG KONG CO LTD-REG-S 3.50000% 19-12.11.29 | 550 000.00 | 386 650.00 | 0.36 |
| USD | WHEELOCK MTN BVI LTD-REG-S 2.37500% 21-25.01.26 | 850 000.00 | 776 233.16 | 0.73 |
| Total USD |  |  | 46 098 816.57 | 43.11 |
| Total des Medium-Term Notes, taux fixe |  | 46 098 816.57 | 43.11 |
| Medium-Term Notes, taux variable |  |  |  |
| USD |  |  |  |
| USD	BANK OF EAST ASIA LTD-REG-S-SUB 4.875%/VAR 22-22.04.32 | 450 000.00 | 389 578.28 | 0.36 |
| USD	DAH SING BANK LTD-REG-S-SUB 3.000%/VAR 21-02.11.31 | 500 000.00 | 433 222.04 | 0.41 |
| USD	DBS GROUP HOLDINGS LTD-REG-S-SUB 4.520%/VAR 18-11.12.28 | 200 000.00 | 197 440.61 | 0.19 |
| USD	KEB HANA BANK-REG-S-SUB 3.500%/VAR 21-PRP | 1 000 000.00 | 845 850.00 | 0.79 |
| USD	SHINHAN FIN GROUP CO LTD-REG-S-SUB 3.340%/VAR 19-05.02.30 | 775 000.00 | 709 754.69 | 0.66 |
| USD	UNITED OVERSEAS BANK LTD-REG-S-SUB 3.750%/VAR 19-15.04.29 | 800 000.00 | 776 835.12 | 0.73 |
| Total USD |  | 3 352 680.74 | 3.14 |
| Total des Medium-Term Notes, taux variable |  | 3 352 680.74 | 3.14 |
| Obligations, taux fixe |  |  |  |
| USD |  |  |  |
| USD	BAIDU INC 3.87500% 18-29.09.23 | 1 000 000.00 | 986 160.00 | 0.92 |
| USD	BANK OF CHINA LTD/MACAU-REG-S 3.50000% 17-20.04.27 | 2 000 000.00 | 1 920 420.00 | 1.80 |
| USD	GLOBAL LOGISTIC PROPERTIES LTD-REG-S 3.87500% 15-04.06.25 | 265 000.00 | 164 303.50 | 0.15 |
| USD	HKT CAPITAL NO 5 LTD-REG-S 3.25000% 19-30.09.29 | 350 000.00 | 304 182.37 | 0.28 |
| USD	HUTCHISON WHAMPOA INTERNATIONAL14-REG-S 3.62500% 14-31.10.24 | 1 000 000.00 | 970 187.50 | 0.91 |
| USD	INDUSTRIAL BANK OF KOREA-REG-S 0.62500% 21-17.09.24 | 225 000.00 | 207 605.25 | 0.19 |
| USD	LONGFOR GROUP HOLDINGS LTD-REG-S 3.95000% 19-16.09.29 | 200 000.00 | 135 787.50 | 0.13 |
| USD	LONGFOR PROPERTIES-REG-S 3.85000% 20-13.01.32 | 350 000.00 | 224 284.37 | 0.21 |
| USD	MALAYSIA WAKALA SUKUK BHD-REG-S 3.07500% 21-28.04.51 | 250 000.00 | 187 859.38 | 0.18 |
| USD	PERUSAHAAN PENERBIT SBSN-REG-S 3.80000% 20-23.06.50 | 650 000.00 | 506 467.00 | 0.47 |
| USD	PHILIPPINES, REPUBLIC OF THE 3.95000% 15-20.01.40 | 900 000.00 | 756 099.00 | 0.71 |
| USD	PHILIPPINES, REPUBLIC OF THE 3.70000% 16-01.03.41 | 1 750 000.00 | 1 413 317.50 | 1.32 |
| USD	STATE GRID OVERSEAS INV 2013 LTD-REG-S 3.12500% 13-22.05.23 | 1 000 000.00 | 991 440.00 | 0.93 |
| USD	XIAOMI BEST TIME INTER LTD-REG-S 4.10000% 21-14.07.51 | 600 000.00 | 305 724.00 | 0.29 |
| Total USD |  | 9 073 837.37 | 8.49 |
| Total des Obligations, taux fixe |  | 9 073 837.37 | 8.49 |
| Obligations, taux variable |  |  |  |
| USD |  |  |  |
| USD	BANK OF COMMUNICATIONS H/K-REG-S 2.304%/VAR 21-08.07.31 | 1 200 000.00 | 1 075 875.96 | 1.01 |
| USD	SHINHAN FINANCIAL GROUP CO LTD-REG-S-SUB 2.875%VAR 21-PRP | 800 000.00 | 668 000.00 | 0.62 |
| Total USD |  | 1 743 875.96 | 1.63 |
| Total des Obligations, taux variable |  | 1 743 875.96 | 1.63 |

UBS (Lux) Bond SICAV – Asian Investment Grade Bonds Sustainable (USD)
Rapport semestriel au 30 novembre 2022
| Dénomination	Nombre/ | Evaluation en USD | en % |
| --- | --- | --- |
| Nominal | Bénéfice/(perte) non | de |
|  | réalisé(e) sur futures/ | l’actif |
|  | Contrats de | net |
|  | change à terme/ |  |
|  | Swaps (note 1) |  |

Bons du Trésor à moyen terme, taux fixe
| USD |  |
| --- | --- |
| USD | AMERICA, UNITED STATES OF 0.25000% 20-15.06.23 | 4 500 000.00 | 4 395 410.14 | 4.11 |
| USD | AMERICA, UNITED STATES OF 0.12500% 20-31.12.22 | 200 000.00 | 199 367.17 | 0.19 |
| Total USD |  |  | 4 594 777.31 | 4.30 |
| Total des Bons du Trésor à moyen terme, taux fixe |  | 4 594 777.31 | 4.30 |
| Total des Titres et instruments du marché monétaire négociés sur une bourse officielle |  | 101 422 486.22 | 94.85 |
| Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  |  |  |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	INDUSTRIAL & COMMERCIAL BANK OF CN/NY 3.53800% 17-08.11.27 | 1 000 000.00 | 953 160.00 | 0.89 |
| Total USD |  | 953 160.00 | 0.89 |
| Total des Billets, taux fixe |  | 953 160.00 | 0.89 |
| Total des Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  | 953 160.00 | 0.89 |
| Total du Portefeuille-titres |  | 102 375 646.22 | 95.74 |

| Instruments dérivés |  |
| --- | --- |
| Instruments dérivés négociés sur une bourse officielle Contrats financiers à terme sur obligations |
|  |  |  |  |
| JPY	JAPAN GOVERNMENT 10Y BOND (OSE) FUTURE 13.12.22 | -4.00 | -3 583.20 | 0.00 |
| USD	US ULTRA LONG BOND (CBT) FUTURE 22.03.23 | 15.00 | 4 687.50 | 0.00 |
| USD	US 10YR TREASURY NOTE FUTURE 22.03.23 | 87.00 | 7 523.43 | 0.01 |
| Total des Contrats financiers à terme sur obligations |  | 8 627.73 | 0.01 |
| Total des Instruments dérivés négociés sur une bourse officielle |  | 8 627.73 | 0.01 |
| Total des Instruments dérivés |  | 8 627.73 | 0.01 |
|  |  |  |  |
| Avoirs en banque, dépôts à vue et à terme et autres liquidités |  | 4 282 500.44 | 4.00 |
| Crédit en compte courant et autres engagements à court terme |  | -137 580.12 | -0.13 |
| Autres actifs et passifs |  | 402 179.88 | 0.38 |
| Total de l’Actif net |  | 106 931 374.15 | 100.00 |

UBS (Lux) Bond SICAV – Asian Investment Grade Bonds Sustainable (USD) Rapport semestriel au 30 novembre 2022