# UBS (Lux) SICAV 2 – Low Duration EUR Bond (EUR)
| Most important figures |  |
| --- | --- |
|  | ISIN | 30.4.2020 | 31.10.2019 | 31.10.2018 |
| Net assets in EUR |  | 173 508 502.18 | 210 094 047.94 | 123 386 095.43 |
| Class F-acc | LU0417386850 |  |  |  |
| Shares outstanding |  | 79 016.5930 | 58 566.5930 | 183 575.5500 |
| Net asset value per share in EUR |  | 100.40 | 101.18 | 101.02 |
| Issue and redemption price per share in EUR 1 |  | 100.40 | 101.18 | 101.02 |
| Class I-A1-acc 2 | LU1940070516 |  |  |  |
| Shares outstanding |  | 80 092.0000 | - | - |
| Net asset value per share in EUR |  | 99.22 | - | - |
| Issue and redemption price per share in EUR 1 |  | 99.22 | - | - |
| Class P-acc | LU0224521939 |  |  |  |
| Shares outstanding |  | 1 247 738.7010 | 1 424 288.1880 | 944 558.6470 |
| Net asset value per share in EUR |  | 110.19 | 111.06 | 110.93 |
| Issue and redemption price per share in EUR 1 |  | 110.19 | 111.06 | 110.93 |
| Class (SEK hedged) P-acc 3 | LU2008307097 |  |  |  |
| Shares outstanding |  | 100 245.2100 | 387 867.4100 | - |
| Net asset value per share in SEK |  | 696.83 | 700.62 | - |
| Issue and redemption price per share in SEK 1 |  | 696.83 | 700.62 | - |
| Class Q-acc | LU0417387072 |  |  |  |
| Shares outstanding |  | 138 842.3690 | 209 526.7800 | 623.6250 |
| Net asset value per share in EUR |  | 98.05 | 98.82 | 98.72 |
| Issue and redemption price per share in EUR 1 |  | 98.05 | 98.82 | 98.72 |
| 1  See note 1 2  First NAV: 13.2.2020 3  First NAV: 24.6.2019 |  |  |  |  |


### Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
| The Netherlands | 19.64 |
| --- | --- |
| France | 16.27 |
| United States | 15.67 |
| United Kingdom | 11.55 |
| Australia | 7.67 |
| Germany | 6.94 |
| Spain | 3.50 |
| Sweden | 2.97 |
| Finland | 2.82 |
| Luxembourg | 2.67 |
| Norway | 1.43 |
| Italy | 1.36 |
| Ireland | 1.26 |
| Japan | 0.82 |
| Total | 94.57 |

Economic Breakdown as a % of net assets	
| Banks & credit institutions | 40.14 |
| --- | --- |
| Finance & holding companies | 27.31 |
| Telecommunications | 6.63 |
| Energy & water supply | 3.99 |
| Food & soft drinks | 2.71 |
| Tobacco & alcohol | 2.50 |
| Pharmaceuticals, cosmetics & medical products | 1.96 |
| Petroleum | 1.92 |
| Lodging, catering & leisure | 1.38 |
| Miscellaneous services | 1.17 |
| Electrical devices & components | 0.94 |
| Insurance | 0.85 |
| Computer hardware & network equipment providers | 0.81 |
| Miscellaneous consumer goods | 0.75 |
| Internet, software & IT services | 0.64 |
| Real Estate | 0.57 |
| Building industry & materials | 0.30 |
| Total | 94.57 |

UBS (Lux) SICAV 2 – Low Duration EUR Bond (EUR) Semi-Annual Report as of 30 April 2020

### Statement of Net Assets
Assets	30.4.2020
EUR
Investments in securities, cost	167 909 517.32
| Investments in securities, unrealized appreciation (depreciation) | 	-3 821 190.39	 |
| --- | --- |
| Total investments in securities (Note 1) | 164 088 326.93 |
| Cash at banks, deposits on demand and deposit accounts | 7 620 752.53 |
| Other liquid assets (Margins) | 25 588.40 |
| Receivable on subscriptions | 371 333.72 |
| Interest receivable on securities | 1 477 494.19 |
| Other assets | 112 195.44 |
| Unrealized gain (loss) on financial futures (Note 1) | 7 250.00 |
| Unrealized gain (loss) on forward foreign exchange contracts (Note 1) | 223 038.01 |
| Total Assets | 173 925 979.22 |
|  |  |
| Liabilities |  |
| Interest payable on bank overdraft | -4 421.79 |
| Payable on securities purchases (Note 1) | -8 507.37 |
| Payable on redemptions | -361 355.33 |
| Provisions for taxe d’abonnement (Note 3) | -13 493.44 |
| Provisions for other commissions and fees (Note 2) | 	-29 699.11	 |
| Total provisions | -43 192.55 |
| Total Liabilities | -417 477.04 |
|  |  |
| Net assets at the end of the period | 173 508 502.18 |
| Statement of Operations | EUR |
| Income | 1.11.2019-30.4.2020 |
| Interest on securities | 2 057 571.25 |
| Other income (Note 4) | 130 372.17 |
| Total income | 2 187 943.42 |
|  |  |
| Expenses |  |
| Taxe d’abonnement (Note 3) | -43 662.39 |
| Other commissions and fees (Note 2) | -29 699.11 |
| Interest on cash and bank overdraft | -13 551.73 |
| Total expenses | -86 913.23 |
|  |  |
| Net income (loss) on investments | 2 101 030.19 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | -1 862 734.78 |
| Realized gain (loss) on yield-evaluated securities and money market instruments | -8 562.95 |
| Realized gain (loss) on financial futures | 110 156.50 |
| Realized gain (loss) on forward foreign exchange contracts | 190 976.23 |
| Realized gain (loss) on foreign exchange | -84 520.61 |
| Total realized gain (loss) | -1 654 685.61 |
|  |  |
| Net realized gain (loss) of the period | 446 344.58 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | -1 874 872.24 |
| Unrealized appreciation (depreciation) on yield-evaluated securities and money market instruments | -3 043.57 |
| Unrealized appreciation (depreciation) on financial futures | -180 300.00 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | 244 128.15 |
| Total changes in unrealized appreciation (depreciation) | -1 814 087.66 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | -1 367 743.08 |

UBS (Lux) SICAV 2 – Low Duration EUR Bond (EUR) Semi-Annual Report as of 30 April 2020
| Statement of Changes in Net Assets |  |
| --- | --- |
|  | EUR |
|  | 1.11.2019-30.4.2020 |
| Net assets at the beginning of the period | 210 094 047.94 |
| Subscriptions | 71 674 580.66 |
| Redemptions | 	-106 892 383.34	 |
| Total net subscriptions (redemptions) | -35 217 802.68 |
| Net income (loss) on investments | 2 101 030.19 |
| Total realized gain (loss) | -1 654 685.61 |
| Total changes in unrealized appreciation (depreciation) | 	-1 814 087.66	 |
| Net increase (decrease) in net assets as a result of operations | -1 367 743.08 |
| Net assets at the end of the period | 173 508 502.18 |
| Changes in the Number of Shares outstanding |  |
|  | 1.11.2019-30.4.2020 |
| Class | F-acc |
| Number of shares outstanding at the beginning of the period | 58 566.5930 |
| Number of shares issued | 104 262.3260 |
| Number of shares redeemed | -83 812.3260 |
| Number of shares outstanding at the end of the period | 79 016.5930 |
| Class | I-A1-acc |
| Number of shares outstanding at the beginning of the period | 0.0000 |
| Number of shares issued | 80 092.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 80 092.0000 |
| Class | P-acc |
| Number of shares outstanding at the beginning of the period | 1 424 288.1880 |
| Number of shares issued | 379 858.4540 |
| Number of shares redeemed | -556 407.9410 |
| Number of shares outstanding at the end of the period | 1 247 738.7010 |
| Class | (SEK hedged) P-acc |
| Number of shares outstanding at the beginning of the period | 387 867.4100 |
| Number of shares issued | 16 578.1400 |
| Number of shares redeemed | -304 200.3400 |
| Number of shares outstanding at the end of the period | 100 245.2100 |
| Class | Q-acc |
| Number of shares outstanding at the beginning of the period | 209 526.7800 |
| Number of shares issued | 101 810.7080 |
| Number of shares redeemed | -172 495.1190 |
| Number of shares outstanding at the end of the period | 138 842.3690 |

UBS (Lux) SICAV 2 – Low Duration EUR Bond (EUR) Semi-Annual Report as of 30 April 2020

### Statement of Investments in Securities and other Net Assets as of 30 April 2020
| 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 |  |  |  |
| Notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	AT&T INC 3M EURIBOR+40BP 18-03.08.20 | 800 000.00 | 799 416.00 | 0.46 |
| Total EUR |  | 799 416.00 | 0.46 |
| Total Notes, floating rate |  | 799 416.00 | 0.46 |
| Medium term notes, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	ABN AMRO BANK NV-SUB 6.37500% 11-27.04.21 | 1 700 000.00 | 1 785 108.80 | 1.03 |
| EUR	ACHMEA BANK NV 2.75000% 14-18.02.21 | 2 300 000.00 | 2 337 646.40 | 1.35 |
| EUR	AIR LIQUIDE FINANCE SA-REG-S 0.50000% 16-13.06.22 | 2 200 000.00 | 2 213 283.60 | 1.28 |
| EUR	ALLIANDER NV-REG-S 2.25000% 12-14.11.22 | 1 700 000.00 | 1 795 577.40 | 1.03 |
| EUR	ANGLO AMERICAN CAPITAL PLC 3.50000% 12-28.03.22 | 1 700 000.00 | 1 758 701.00 | 1.01 |
| EUR	BANCO BILBAO VIZCAYA ARGENTARIA SA 1.00000% 16-20.01.21 | 2 100 000.00 | 2 110 416.00 | 1.22 |
| EUR	BANCO SANTANDER SA 1.37500% 16-03.03.21 | 2 300 000.00 | 2 317 360.40 | 1.33 |
| EUR	BANK OF AMERICA CORP-REG-S 2.50000% 13-27.07.20 | 2 700 000.00 | 2 712 258.00 | 1.56 |
| EUR	BANK OF AMERICA CORP-REG-S 1.62500% 15-14.09.22 | 900 000.00 | 918 273.60 | 0.53 |
| EUR	BANQUE FEDERATIVE DU CREDIT MUTUEL-SUB 4.00000% 10-22.10.20 | 1 100 000.00 | 1 115 527.60 | 0.64 |
| EUR	BANQUE FEDERATIVE DU CREDIT MUTUEL 2.62500% 13-24.02.21 | 1 600 000.00 | 1 630 531.20 | 0.94 |
| EUR	BMW FINANCE NV 2.00000% 13-04.09.20 | 2 100 000.00 | 2 106 951.00 | 1.21 |
| EUR	BNP PARIBAS 3.75000% 10-25.11.20 | 2 500 000.00 | 2 550 170.00 | 1.47 |
| EUR	BP CAPITAL MARKETS PLC-REG-S 2.51700% 13-17.02.21 | 2 500 000.00 | 2 540 320.00 | 1.46 |
| EUR	BPCE SA 2.12500% 14-17.03.21 | 2 300 000.00 | 2 334 665.60 | 1.34 |
| EUR	BRITISH TELECOMMUNICATIONS PLC-REG-S 0.62500% 16-10.03.21 | 500 000.00 | 498 591.00 | 0.29 |
| EUR	CIE DE SAINT-GOBAIN SA 3.62500% 12-15.06.21 | 500 000.00 | 515 701.00 | 0.30 |
| EUR	CITIGROUP INC-REG-S 1.37500% 14-27.10.21 | 2 500 000.00 | 2 527 240.00 | 1.46 |
| EUR	CITIGROUP INC-REG-S 0.50000% 19-29.01.22 | 900 000.00 | 897 566.40 | 0.52 |
| EUR	COMMERZBANK AG 4.00000% 10-16.09.20 | 2 200 000.00 | 2 223 474.00 | 1.28 |
| EUR	COMMONWEALTH BANK OF AUSTRALIA-REG-S 0.50000% 17-11.07.22 | 3 700 000.00 | 3 692 230.00 | 2.13 |
| EUR	DANONE SA-REG-S 0.16700% 16-03.11.20 | 2 000 000.00 | 1 999 472.00 | 1.15 |
| EUR	DEUTSCHE BAHN FINANCE BV 3.75000% 11-01.06.21 | 2 000 000.00 | 2 079 304.00 | 1.20 |
| EUR	DEUTSCHE TELEKOM INTL FINANCE-REG-S 2.12500% 13-18.01.21 | 1 000 000.00 | 1 012 338.00 | 0.58 |
| EUR	DNB BANK ASA 4.37500% 11-24.02.21 | 2 400 000.00 | 2 478 693.36 | 1.43 |
| EUR	ENGIE SA 6.37500% 09-18.01.21 | 1 000 000.00 | 1 042 090.00 | 0.60 |
| EUR	ENGIE SA-REG-S 1.37500% 14-19.05.20 | 500 000.00 | 500 185.00 | 0.29 |
| EUR	EUROGRID GMBH 3.87500% 10-22.10.20 | 2 000 000.00 | 2 033 280.00 | 1.17 |
| EUR	GE CAPITAL EUROPEAN FUNDING 4.35000% 06-03.11.21 | 2 100 000.00 | 2 185 706.25 | 1.26 |
| EUR	GLENCORE FINANCE EUROPE SA-REG-S 3.37500% 13-30.09.20 | 2 500 000.00 | 2 508 750.00 | 1.45 |
| EUR	GOLDMAN SACHS GROUP INC-REG-S 2.62500% 13-19.08.20 | 700 000.00 | 704 074.00 | 0.41 |
| EUR	GOLDMAN SACHS GROUP INC-REG-S 1.37500% 15-26.07.22 | 800 000.00 | 809 840.00 | 0.47 |
| EUR	HEINEKEN NV 2.00000% 13-06.04.21 | 1 200 000.00 | 1 217 112.00 | 0.70 |
| EUR	HEINEKEN NV-REG-S 2.12500% 12-04.08.20 | 900 000.00 | 903 947.40 | 0.52 |
| EUR	HOLCIM US FINANCE SARL & CIE 2.62500% 12-07.09.20 | 2 100 000.00 | 2 116 926.00 | 1.22 |
| EUR	HSBC FRANCE SA-REG-S 0.20000% 18-04.09.21 | 1 900 000.00 | 1 894 664.80 | 1.09 |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S 3.50000% 13-01.02.21 | 1 600 000.00 | 1 637 497.60 | 0.94 |
| EUR	ING BANK NV-REG-S 0.75000% 15-24.11.20 | 2 800 000.00 | 2 807 694.40 | 1.62 |
| EUR	INTESA SANPAOLO SPA-REG-S 0.87500% 17-27.06.22 | 1 900 000.00 | 1 878 583.20 | 1.08 |
| EUR	JPMORGAN CHASE & CO 2.62500% 13-23.04.21 | 2 900 000.00 | 2 964 032.00 | 1.71 |
| EUR	LINDE FINANCE BV 0.25000% 17-18.01.22 | 2 200 000.00 | 2 207 097.20 | 1.27 |
| EUR	MCDONALD’S CORP-REG-S 0.50000% 16-15.01.21 | 2 400 000.00 | 2 398 857.60 | 1.38 |
| EUR	MORGAN STANLEY 1.00000% 16-02.12.22 | 500 000.00 | 502 462.00 | 0.29 |
| EUR	MORGAN STANLEY 5.37500% 10-10.08.20 | 2 500 000.00 | 2 532 795.00 | 1.46 |
| EUR	NATIONAL AUSTRALIA BANK LTD-REG-S 0.87500% 15-20.01.22 | 1 300 000.00 | 1 309 321.00 | 0.75 |
| EUR	NORDEA BANK ABP-REG-S 2.00000% 14-17.02.21 | 1 200 000.00 | 1 217 318.40 | 0.70 |
| EUR	NORDEA BANK ABP-SUB 4.00000% 10-29.03.21 | 1 000 000.00 | 1 023 448.00 | 0.59 |
| EUR	OP CORPORATE BANK PLC-REG-S-SUB 5.75000% 12-28.02.22 | 500 000.00 | 541 524.80 | 0.31 |
| EUR	OP CORPORATE BANK PLC-REG-S 2.00000% 14-03.03.21 | 1 200 000.00 | 1 218 192.00 | 0.70 |
| EUR	ORANGE 3.00000% 12-15.06.22 | 1 000 000.00 | 1 058 762.00 | 0.61 |
| EUR	ORIGIN ENERGY FINANCE LTD-REG-S 2.50000% 13-23.10.20 | 1 000 000.00 | 1 006 300.00 | 0.58 |
| EUR	RABOBANK NEDERLAND NV-SUB 3.75000% 10-09.11.20 | 1 900 000.00 | 1 926 524.00 | 1.11 |
| EUR	REPSOL INTERNATIONAL FINANCE BV-REG-S 2.62500% 13-28.05.20 | 2 100 000.00 | 2 102 226.00 | 1.21 |
| EUR	SHELL INTERNATIONAL FINANCE BV-REG-S 1.25000% 15-15.03.22 | 1 900 000.00 | 1 924 988.80 | 1.11 |
| EUR	SIEMENS FINANCIERINGSMAATSCH NV-REG-S 1.75000% 13-12.03.21 | 1 900 000.00 | 1 924 950.80 | 1.11 |
| EUR	SKANDINAVISKA ENSKILDA BANKEN AB-REG-S 2.00000% 14-19.02.21 | 2 500 000.00 | 2 533 970.00 | 1.46 |
| EUR	SKY PLC-REG-S 1.50000% 14-15.09.21 | 2 400 000.00 | 2 426 769.60 | 1.40 |
| EUR	SVENSKA HANDELSBANKEN AB-REG-S 2.25000% 13-27.08.20 | 2 600 000.00 | 2 615 678.00 | 1.51 |
| EUR	TELEFONICA EMISIONES SA-REG-S 2.24200% 14-27.05.22 | 1 600 000.00 | 1 652 063.52 | 0.95 |
| EUR	TENNET HOLDING BV-REG-S 2.12500% 13-01.11.20 | 2 200 000.00 | 2 220 790.00 | 1.28 |
| EUR	TOTAL CAPITAL INTERNATIONAL SA-REG-S 2.12500% 13-19.11.21 | 1 600 000.00 | 1 641 577.60 | 0.95 |
| EUR	TOYOTA MOTOR CREDIT CORP-REG-S 1.80000% 13-23.07.20 | 2 400 000.00 | 2 407 104.00 | 1.39 |
| EUR	UNIBAIL-RODAMCO SE-REG-S 0.12500% 18-14.05.21 | 1 000 000.00 | 983 912.00 | 0.57 |
| EUR	UNICREDITO ITALIANO SPA 1.00000% 18-18.01.23 | 500 000.00 | 481 184.00 | 0.28 |
| EUR	VEOLIA ENVIRONNEMENT 4.24700% 10-06.01.21 | 1 500 000.00 | 1 536 771.00 | 0.89 |
| EUR	VERIZON COMMUNICATIONS INC 2.37500% 14-17.02.22 | 2 200 000.00 | 2 285 518.40 | 1.32 |
| EUR	VOLKSWAGEN FINANCIAL SERVICES AG-REG-S 0.25000% 18-16.10.20 | 2 400 000.00 | 2 387 620.80 | 1.38 |
| EUR	WUERTH FINANCE INTERNATIONAL BV 1.75000% 13-21.05.20 | 2 100 000.00 | 2 101 281.00 | 1.21 |
| Total EUR |  | 121 524 790.53 | 70.04 |
| Total Medium term notes, fixed rate |  | 121 524 790.53 | 70.04 |

UBS (Lux) SICAV 2 – Low Duration EUR Bond (EUR) Semi-Annual Report as of 30 April 2020
| Description | Quantity/ | Valuation in EUR | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |

Medium term notes, zero coupon
| EUR |  |
| --- | --- |
| EUR | DIAGEO FINANCE PLC-REG-S 0.00000% 17-17.11.20 | 2 400 000.00 | 2 396 798.40 | 1.38 |
| EUR | HENKEL AG & CO KGAA-REG-S 0.00000% 16-13.09.21 | 1 300 000.00 | 1 298 115.00 | 0.75 |
| EUR | SANOFI-REG-S 0.00000% 19-21.03.22 | 2 800 000.00 | 2 802 777.60 | 1.62 |
| Total EUR |  |  | 6 497 691.00 | 3.75 |
| Total Medium term notes, zero coupon |  | 6 497 691.00 | 3.75 |
| Medium term notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	ABB FINANCE BV-REG-S 3M EURIBOR+35BP 19-12.10.20 | 1 700 000.00 | 1 699 099.00 | 0.98 |
| EUR	ABN AMRO BANK NV-REG-S 3M EURIBOR+40BP 19-15.01.21 | 900 000.00 | 898 704.00 | 0.52 |
| EUR	ALLIANZ FINANCE II-SUB 5.750%/3M EURIBOR+334.9BP 11-08.07.41 | 1 400 000.00 | 1 471 677.20 | 0.85 |
| EUR	CREDIT AGRICOLE SA LONDON-REG-S 3M EURIBOR+55BP 19-17.01.22 | 2 300 000.00 | 2 288 523.00 | 1.32 |
| EUR	ENBW ENERGIE BADEN-WUERTT-REG-S-SUB 3.625%/VAR 14-02.04.76 | 900 000.00 | 912 177.00 | 0.53 |
| EUR	GOLDMAN SACHS GROUP-REG-S 3M EURIBOR+70BP 15-29.05.20 | 700 000.00 | 699 847.40 | 0.40 |
| EUR	NATIONAL AUSTRALIA BK LTD-REG-S 3M EURIBOR+57BP 16-19.04.21 | 1 300 000.00 | 1 298 598.60 | 0.75 |
| EUR	OP CORPORATE BANK PLC-REG-S 3M EURIBOR+50BP 18-22.05.21 | 900 000.00 | 897 120.00 | 0.52 |
| EUR	SOCIETE GENERALE-REG-S 3M EURIBOR+37BP 19-14.01.21 | 2 200 000.00 | 2 194 962.00 | 1.26 |
| EUR	TOTAL SA-REG-S-SUB 2.250%/VAR 15-PRP | 1 100 000.00 | 1 080 750.00 | 0.62 |
| EUR	WESTPAC BANKING CORP-REG-S 3M EURIBOR+50BP 18-04.12.20 | 2 000 000.00 | 1 997 628.00 | 1.15 |
| Total EUR |  | 15 439 086.20 | 8.90 |
| Total Medium term notes, floating rate |  | 15 439 086.20 | 8.90 |
| Bonds, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	AT&T INC 2.65000% 13-17.12.21 | 1 000 000.00 | 1 028 128.00 | 0.59 |
| EUR	COCA-COLA EUROPEAN PARTNERS PLC-REG-S 0.75000% 16-24.02.22 | 1 700 000.00 | 1 706 143.80 | 0.98 |
| EUR	CREDIT SUISSE LONDON BRANCH-REG-S 1.12500% 15-15.09.20 | 2 400 000.00 | 2 406 945.60 | 1.39 |
| EUR	INTERNATIONAL BUSINESS MACHINES CORP 1.87500% 13-06.11.20 | 1 400 000.00 | 1 410 833.20 | 0.81 |
| EUR	ORIGIN ENERGY FINANCE LTD-REG-S 3.50000% 13-04.10.21 | 1 200 000.00 | 1 242 192.00 | 0.71 |
| EUR	PFIZER INC 0.25000% 17-06.03.22 | 600 000.00 | 602 160.00 | 0.35 |
| EUR	SAP SE-REG-S 0.25000% 18-10.03.22 | 1 100 000.00 | 1 103 823.60 | 0.64 |
| EUR	SUMITOMO MITSUI BANKING CORP-REG-S 2.25000% 13-16.12.20 | 1 400 000.00 | 1 415 831.20 | 0.82 |
| EUR	TELSTRA CORP LTD 3.62500% 10-15.03.21 | 1 700 000.00 | 1 749 045.00 | 1.01 |
| Total EUR |  | 12 665 102.40 | 7.30 |
| Total Bonds, fixed rate |  | 12 665 102.40 | 7.30 |
| Bonds, zero coupon |  |  |  |
| EUR |  |  |  |
| EUR	COCA-COLA CO/THE 0.00000% 17-09.03.21 | 1 000 000.00 | 998 264.00 | 0.57 |
| EUR	GLAXOSMITHKLINE CAPITAL PLC-REG-S 0.00000% 17-12.09.20 | 1 800 000.00 | 1 798 747.20 | 1.04 |
| Total EUR |  | 2 797 011.20 | 1.61 |
| Total Bonds, zero coupon |  | 2 797 011.20 | 1.61 |
| Bonds, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	BHP BILLITON FINANCE LTD-REG-S-SUB 4.750%/VAR 15-22.04.76 | 1 000 000.00 | 1 019 936.00 | 0.59 |
| EUR	ENGIE SA-REG-S-SUB 4.750%/VAR 13-PRP | 1 100 000.00 | 1 133 000.00 | 0.65 |
| Total EUR |  | 2 152 936.00 | 1.24 |
| Total Bonds, floating rate |  | 2 152 936.00 | 1.24 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 161 876 033.33 | 93.30 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Medium term notes, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	BAT INTERNATIONAL FINANCE PLC 4.00000% 10-07.07.20 | 2 200 000.00 | 2 212 293.60 | 1.27 |
| Total EUR |  | 2 212 293.60 | 1.27 |
| Total Medium term notes, fixed rate |  | 2 212 293.60 | 1.27 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 2 212 293.60 | 1.27 |
| Total investments in securities |  | 164 088 326.93 | 94.57 |

UBS (Lux) SICAV 2 – Low Duration EUR Bond (EUR) Semi-Annual Report as of 30 April 2020
| Description	Quantity/ | Valuation in EUR | as a % |
| --- | --- | --- |
| Nominal | Unrealized gain | of net |
|  | (loss) on Futures/ | assets |
|  | Forward |  |
|  | Exchange Contracts/ |  |
|  | Swaps (Note 1) |  |
| Derivative instruments |  |  |  |
| Derivative instruments listed on an official stock exchange Financial Futures on bonds |  |  |  |
|  |  |  |  |
| EUR	EURO-SCHATZ FUTURE 08.06.20 | -145.00 | 7 250.00 | 0.00 |
| Total Financial Futures on bonds |  | 7 250.00 | 0.00 |
| Total Derivative instruments listed on an official stock exchange |  | 7 250.00 | 0.00 |
| Total Derivative instruments |  | 7 250.00 | 0.00 |
| Forward Foreign Exchange contracts Forward Foreign Exchange contracts (Purchase/Sale) |  |  |  |

| SEK | 79 760 700.00 | EUR | 7 216 631.21 | 4.5.2020 | 239 023.53 | 0.14 |
| --- | --- | --- | --- | --- | --- | --- |
| SEK | 1 475 300.00 | EUR | 133 159.66 | 4.5.2020 | 4 744.44 | 0.00 |
| EUR | 798 523.12 | SEK | 8 769 000.00 | 4.5.2020 | -21 161.72 | -0.01 |
| EUR | 291 511.37 | SEK | 3 204 400.00 | 4.5.2020 | -8 020.86 | 0.00 |
| SEK | 69 262 600.00 | EUR | 6 463 892.35 | 2.6.2020 | 8 452.62 | 0.00 |
| Total Forward Foreign Exchange contracts (Purchase/Sale) | 223 038.01 | 0.13 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 7 646 340.93 | 4.41 |
| Other assets and liabilities | 1 543 546.31 | 0.89 |
| Total net assets | 173 508 502.18 | 100.00 |

UBS (Lux) SICAV 2 – Low Duration EUR Bond (EUR) Semi-Annual Report as of 30 April 2020

Translation (ENDE, 2020-04-30):
# UBS (Lux) SICAV 2 – Low Duration EUR Bond (EUR)
| Wichtigste Daten |  |
| --- | --- |
|  | ISIN | 30.4.2020 | 31.10.2019 | 31.10.2018 |
| Nettovermögen in EUR |  | 173 508 502.18 | 210 094 047.94 | 123 386 095.43 |
| Klasse F-acc | LU0417386850 |  |  |  |
| Aktien im Umlauf |  | 79 016.5930 | 58 566.5930 | 183 575.5500 |
| Nettoinventarwert pro Aktie in EUR |  | 100.40 | 101.18 | 101.02 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 1 |  | 100.40 | 101.18 | 101.02 |
| Klasse I-A1-acc 2 | LU1940070516 |  |  |  |
| Aktien im Umlauf |  | 80 092.0000 | - | - |
| Nettoinventarwert pro Aktie in EUR |  | 99.22 | - | - |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 1 |  | 99.22 | - | - |
| Klasse P-acc | LU0224521939 |  |  |  |
| Aktien im Umlauf |  | 1 247 738.7010 | 1 424 288.1880 | 944 558.6470 |
| Nettoinventarwert pro Aktie in EUR |  | 110.19 | 111.06 | 110.93 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 1 |  | 110.19 | 111.06 | 110.93 |
| Klasse (SEK hedged) P-acc 3 | LU2008307097 |  |  |  |
| Aktien im Umlauf |  | 100 245.2100 | 387 867.4100 | - |
| Nettoinventarwert pro Aktie in SEK |  | 696.83 | 700.62 | - |
| Ausgabe- und Rücknahmepreis pro Aktie in SEK 1 |  | 696.83 | 700.62 | - |
| Klasse Q-acc | LU0417387072 |  |  |  |
| Aktien im Umlauf |  | 138 842.3690 | 209 526.7800 | 623.6250 |
| Nettoinventarwert pro Aktie in EUR |  | 98.05 | 98.82 | 98.72 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 1 |  | 98.05 | 98.82 | 98.72 |
| 1  Siehe Erläuterung 1 2  Erste NAV 13.2.2020 3  Erste NAV 24.6.2019 |  |  |  |  |


### Struktur des Wertpapierbestandes
Geographische Aufteilung in % des Nettovermögens	
| Niederlande | 19.64 |
| --- | --- |
| Frankreich | 16.27 |
| Vereinigte Staaten | 15.67 |
| Grossbritannien | 11.55 |
| Australien | 7.67 |
| Deutschland | 6.94 |
| Spanien | 3.50 |
| Schweden | 2.97 |
| Finnland | 2.82 |
| Luxemburg | 2.67 |
| Norwegen | 1.43 |
| Italien | 1.36 |
| Irland | 1.26 |
| Japan | 0.82 |
| Total | 94.57 |

Wirtschaftliche Aufteilung in % des Nettovermögens	
| Banken & Kreditinstitute | 40.14 |
| --- | --- |
| Finanz- & Beteiligungsgesellschaften | 27.31 |
| Telekommunikation | 6.63 |
| Energie- & Wasserversorgung | 3.99 |
| Nahrungsmittel & Softdrinks | 2.71 |
| Tabak & alkoholische Getränke | 2.50 |
| Pharmazeutik, Kosmetik & medizinische Produkte | 1.96 |
| Erdöl | 1.92 |
| Gastgewerbe & Freizeit | 1.38 |
| Diverse Dienstleistungen | 1.17 |
| Elektrische Geräte & Komponenten | 0.94 |
| Versicherungen | 0.85 |
| Computer & Netzwerkausrüster | 0.81 |
| Diverse Konsumgüter | 0.75 |
| Internet, Software & IT-Dienste | 0.64 |
| Immobilien | 0.57 |
| Baugewerbe & Baumaterial | 0.30 |
| Total | 94.57 |

UBS (Lux) SICAV 2 – Low Duration EUR Bond (EUR) Halbjahresbericht per 30. April 2020

### Nettovermögensaufstellung
Aktiva	30.4.2020
EUR
Wertpapierbestand, Einstandswert	167 909 517.32
| Wertpapierbestand, nicht realisierte Werterhöhung (-minderung) | 	-3 821 190.39	 |
| --- | --- |
| Total Wertpapierbestand (Erläuterung 1) | 164 088 326.93 |
| Bankguthaben, Sicht- und Fristgelder | 7 620 752.53 |
| Andere liquide Mittel (Margins) | 25 588.40 |
| Forderungen aus Zeichnungen | 371 333.72 |
| Zinsforderungen aus Wertpapieren | 1 477 494.19 |
| Sonstige Aktiva | 112 195.44 |
| Nicht realisierter Kursgewinn (-verlust) aus Finanzterminkontrakten (Erläuterung 1) | 7 250.00 |
| Nicht realisierter Kursgewinn (-verlust) aus Devisenterminkontrakten (Erläuterung 1) | 223 038.01 |
| Total Aktiva | 173 925 979.22 |
|  |  |
| Passiva |  |
| Zinsverbindlichkeiten aus Kontokorrentkredit | -4 421.79 |
| Verbindlichkeiten aus Wertpapierkäufen (Erläuterung 1) | -8 507.37 |
| Verbindlichkeiten aus Rücknahmen | -361 355.33 |
| Rückstellungen für Abonnementsabgabe (Erläuterung 3) | -13 493.44 |
| Rückstellungen für sonstige Kommissionen und Gebühren (Erläuterung 2) | 	-29 699.11	 |
| Total Rückstellungen für Aufwendungen | -43 192.55 |
| Total Passiva | -417 477.04 |
|  |  |
| Nettovermögen am Ende der Berichtsperiode | 173 508 502.18 |
| Ertrags- und Aufwandsrechnung | EUR |
| Erträge | 1.11.2019-30.4.2020 |
| Zinsen auf Wertpapiere | 2 057 571.25 |
| Sonstige Erträge (Erläuterung 4) | 130 372.17 |
| Total Erträge | 2 187 943.42 |
|  |  |
| Aufwendungen |  |
| Abonnementsabgabe (Erläuterung 3) | -43 662.39 |
| Sonstige Kommissionen und Gebühren (Erläuterung 2) | -29 699.11 |
| Zinsaufwand auf liquide Mittel und Kontokorrentkredit | -13 551.73 |
| Total Aufwendungen | -86 913.23 |
|  |  |
| Nettoerträge (-verluste) aus Anlagen | 2 101 030.19 |
|  |  |
| Realisierte Gewinne (Verluste) (Erläuterung 1) |  |
| Realisierter Kursgewinn (-verlust) aus marktbewerteten Wertpapieren ausser Optionen | -1 862 734.78 |
| Realisierter Kursgewinn (-verlust) aus renditebewerteten Wertpapieren und Geldmarktinstrumenten | -8 562.95 |
| Realisierter Kursgewinn (-verlust) aus Finanzterminkontrakten | 110 156.50 |
| Realisierter Kursgewinn (-verlust) aus Devisenterminkontrakten | 190 976.23 |
| Realisierter Währungsgewinn (-verlust) | -84 520.61 |
| Total der realisierten Gewinne (Verluste) | -1 654 685.61 |
|  |  |
| Realisierter Nettogewinn (-verlust) der Berichtsperiode | 446 344.58 |
|  |  |
| Veränderungen der nicht realisierten Werterhöhung (-minderung) (Erläuterung 1) |  |
| Nicht realisierte Werterhöhung (-minderung) marktbewerteter Wertpapiere ausser Optionen | -1 874 872.24 |
| Nicht realisierte Werterhöhung (-minderung) renditebewerteter Wertpapiere und Geldmarktinstrumente | -3 043.57 |
| Nicht realisierte Werterhöhung (-minderung) von Finanzterminkontrakten | -180 300.00 |
| Nicht realisierte Werterhöhung (-minderung) von Devisenterminkontrakten | 244 128.15 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | -1 814 087.66 |
|  |  |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | -1 367 743.08 |

UBS (Lux) SICAV 2 – Low Duration EUR Bond (EUR) Halbjahresbericht per 30. April 2020
| Veränderungen des Nettovermögens |  |
| --- | --- |
|  | EUR |
|  | 1.11.2019-30.4.2020 |
| Nettovermögen zu Beginn der Berichtsperiode | 210 094 047.94 |
| Zeichnungen | 71 674 580.66 |
| Rücknahmen | 	-106 892 383.34	 |
| Total Mittelzufluss (-abfluss) | -35 217 802.68 |
| Nettoerträge (-verluste) aus Anlagen | 2 101 030.19 |
| Total der realisierten Gewinne (Verluste) | -1 654 685.61 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | 	-1 814 087.66	 |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | -1 367 743.08 |
| Nettovermögen am Ende der Berichtsperiode | 173 508 502.18 |
| Entwicklung der Aktien im Umlauf |  |
|  | 1.11.2019-30.4.2020 |
| Klasse | F-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode | 58 566.5930 |
| Anzahl der ausgegebenen Aktien | 104 262.3260 |
| Anzahl der zurückgegebenen Aktien | -83 812.3260 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode | 79 016.5930 |
| Klasse | I-A1-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode | 0.0000 |
| Anzahl der ausgegebenen Aktien | 80 092.0000 |
| Anzahl der zurückgegebenen Aktien | 0.0000 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode | 80 092.0000 |
| Klasse | P-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode | 1 424 288.1880 |
| Anzahl der ausgegebenen Aktien | 379 858.4540 |
| Anzahl der zurückgegebenen Aktien | -556 407.9410 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode | 1 247 738.7010 |
| Klasse | (SEK hedged) P-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode | 387 867.4100 |
| Anzahl der ausgegebenen Aktien | 16 578.1400 |
| Anzahl der zurückgegebenen Aktien | -304 200.3400 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode | 100 245.2100 |
| Klasse | Q-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode | 209 526.7800 |
| Anzahl der ausgegebenen Aktien | 101 810.7080 |
| Anzahl der zurückgegebenen Aktien | -172 495.1190 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode | 138 842.3690 |

UBS (Lux) SICAV 2 – Low Duration EUR Bond (EUR) Halbjahresbericht per 30. April 2020

### Aufstellung der Wertpapierbestände und anderer Nettovermögenswerte per 30. April 2020
| 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 |  |  |  |
| Notes, variabler Zins |  |  |  |
| EUR |  |  |  |
| EUR	AT&T INC 3M EURIBOR+40BP 18-03.08.20 | 800 000.00 | 799 416.00 | 0.46 |
| Total EUR |  | 799 416.00 | 0.46 |
| Total Notes, variabler Zins |  | 799 416.00 | 0.46 |
| Medium-Term Notes, fester Zins |  |  |  |
| EUR |  |  |  |
| EUR	ABN AMRO BANK NV-SUB 6.37500% 11-27.04.21 | 1 700 000.00 | 1 785 108.80 | 1.03 |
| EUR	ACHMEA BANK NV 2.75000% 14-18.02.21 | 2 300 000.00 | 2 337 646.40 | 1.35 |
| EUR	AIR LIQUIDE FINANCE SA-REG-S 0.50000% 16-13.06.22 | 2 200 000.00 | 2 213 283.60 | 1.28 |
| EUR	ALLIANDER NV-REG-S 2.25000% 12-14.11.22 | 1 700 000.00 | 1 795 577.40 | 1.03 |
| EUR	ANGLO AMERICAN CAPITAL PLC 3.50000% 12-28.03.22 | 1 700 000.00 | 1 758 701.00 | 1.01 |
| EUR	BANCO BILBAO VIZCAYA ARGENTARIA SA 1.00000% 16-20.01.21 | 2 100 000.00 | 2 110 416.00 | 1.22 |
| EUR	BANCO SANTANDER SA 1.37500% 16-03.03.21 | 2 300 000.00 | 2 317 360.40 | 1.33 |
| EUR	BANK OF AMERICA CORP-REG-S 2.50000% 13-27.07.20 | 2 700 000.00 | 2 712 258.00 | 1.56 |
| EUR	BANK OF AMERICA CORP-REG-S 1.62500% 15-14.09.22 | 900 000.00 | 918 273.60 | 0.53 |
| EUR	BANQUE FEDERATIVE DU CREDIT MUTUEL-SUB 4.00000% 10-22.10.20 | 1 100 000.00 | 1 115 527.60 | 0.64 |
| EUR	BANQUE FEDERATIVE DU CREDIT MUTUEL 2.62500% 13-24.02.21 | 1 600 000.00 | 1 630 531.20 | 0.94 |
| EUR	BMW FINANCE NV 2.00000% 13-04.09.20 | 2 100 000.00 | 2 106 951.00 | 1.21 |
| EUR	BNP PARIBAS 3.75000% 10-25.11.20 | 2 500 000.00 | 2 550 170.00 | 1.47 |
| EUR	BP CAPITAL MARKETS PLC-REG-S 2.51700% 13-17.02.21 | 2 500 000.00 | 2 540 320.00 | 1.46 |
| EUR	BPCE SA 2.12500% 14-17.03.21 | 2 300 000.00 | 2 334 665.60 | 1.34 |
| EUR	BRITISH TELECOMMUNICATIONS PLC-REG-S 0.62500% 16-10.03.21 | 500 000.00 | 498 591.00 | 0.29 |
| EUR	CIE DE SAINT-GOBAIN SA 3.62500% 12-15.06.21 | 500 000.00 | 515 701.00 | 0.30 |
| EUR	CITIGROUP INC-REG-S 1.37500% 14-27.10.21 | 2 500 000.00 | 2 527 240.00 | 1.46 |
| EUR	CITIGROUP INC-REG-S 0.50000% 19-29.01.22 | 900 000.00 | 897 566.40 | 0.52 |
| EUR	COMMERZBANK AG 4.00000% 10-16.09.20 | 2 200 000.00 | 2 223 474.00 | 1.28 |
| EUR	COMMONWEALTH BANK OF AUSTRALIA-REG-S 0.50000% 17-11.07.22 | 3 700 000.00 | 3 692 230.00 | 2.13 |
| EUR	DANONE SA-REG-S 0.16700% 16-03.11.20 | 2 000 000.00 | 1 999 472.00 | 1.15 |
| EUR	DEUTSCHE BAHN FINANCE BV 3.75000% 11-01.06.21 | 2 000 000.00 | 2 079 304.00 | 1.20 |
| EUR	DEUTSCHE TELEKOM INTL FINANCE-REG-S 2.12500% 13-18.01.21 | 1 000 000.00 | 1 012 338.00 | 0.58 |
| EUR	DNB BANK ASA 4.37500% 11-24.02.21 | 2 400 000.00 | 2 478 693.36 | 1.43 |
| EUR	ENGIE SA 6.37500% 09-18.01.21 | 1 000 000.00 | 1 042 090.00 | 0.60 |
| EUR	ENGIE SA-REG-S 1.37500% 14-19.05.20 | 500 000.00 | 500 185.00 | 0.29 |
| EUR	EUROGRID GMBH 3.87500% 10-22.10.20 | 2 000 000.00 | 2 033 280.00 | 1.17 |
| EUR	GE CAPITAL EUROPEAN FUNDING 4.35000% 06-03.11.21 | 2 100 000.00 | 2 185 706.25 | 1.26 |
| EUR	GLENCORE FINANCE EUROPE SA-REG-S 3.37500% 13-30.09.20 | 2 500 000.00 | 2 508 750.00 | 1.45 |
| EUR	GOLDMAN SACHS GROUP INC-REG-S 2.62500% 13-19.08.20 | 700 000.00 | 704 074.00 | 0.41 |
| EUR	GOLDMAN SACHS GROUP INC-REG-S 1.37500% 15-26.07.22 | 800 000.00 | 809 840.00 | 0.47 |
| EUR	HEINEKEN NV 2.00000% 13-06.04.21 | 1 200 000.00 | 1 217 112.00 | 0.70 |
| EUR	HEINEKEN NV-REG-S 2.12500% 12-04.08.20 | 900 000.00 | 903 947.40 | 0.52 |
| EUR	HOLCIM US FINANCE SARL & CIE 2.62500% 12-07.09.20 | 2 100 000.00 | 2 116 926.00 | 1.22 |
| EUR	HSBC FRANCE SA-REG-S 0.20000% 18-04.09.21 | 1 900 000.00 | 1 894 664.80 | 1.09 |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S 3.50000% 13-01.02.21 | 1 600 000.00 | 1 637 497.60 | 0.94 |
| EUR	ING BANK NV-REG-S 0.75000% 15-24.11.20 | 2 800 000.00 | 2 807 694.40 | 1.62 |
| EUR	INTESA SANPAOLO SPA-REG-S 0.87500% 17-27.06.22 | 1 900 000.00 | 1 878 583.20 | 1.08 |
| EUR	JPMORGAN CHASE & CO 2.62500% 13-23.04.21 | 2 900 000.00 | 2 964 032.00 | 1.71 |
| EUR	LINDE FINANCE BV 0.25000% 17-18.01.22 | 2 200 000.00 | 2 207 097.20 | 1.27 |
| EUR	MCDONALD’S CORP-REG-S 0.50000% 16-15.01.21 | 2 400 000.00 | 2 398 857.60 | 1.38 |
| EUR	MORGAN STANLEY 1.00000% 16-02.12.22 | 500 000.00 | 502 462.00 | 0.29 |
| EUR	MORGAN STANLEY 5.37500% 10-10.08.20 | 2 500 000.00 | 2 532 795.00 | 1.46 |
| EUR	NATIONAL AUSTRALIA BANK LTD-REG-S 0.87500% 15-20.01.22 | 1 300 000.00 | 1 309 321.00 | 0.75 |
| EUR	NORDEA BANK ABP-REG-S 2.00000% 14-17.02.21 | 1 200 000.00 | 1 217 318.40 | 0.70 |
| EUR	NORDEA BANK ABP-SUB 4.00000% 10-29.03.21 | 1 000 000.00 | 1 023 448.00 | 0.59 |
| EUR	OP CORPORATE BANK PLC-REG-S-SUB 5.75000% 12-28.02.22 | 500 000.00 | 541 524.80 | 0.31 |
| EUR	OP CORPORATE BANK PLC-REG-S 2.00000% 14-03.03.21 | 1 200 000.00 | 1 218 192.00 | 0.70 |
| EUR	ORANGE 3.00000% 12-15.06.22 | 1 000 000.00 | 1 058 762.00 | 0.61 |
| EUR	ORIGIN ENERGY FINANCE LTD-REG-S 2.50000% 13-23.10.20 | 1 000 000.00 | 1 006 300.00 | 0.58 |
| EUR	RABOBANK NEDERLAND NV-SUB 3.75000% 10-09.11.20 | 1 900 000.00 | 1 926 524.00 | 1.11 |
| EUR	REPSOL INTERNATIONAL FINANCE BV-REG-S 2.62500% 13-28.05.20 | 2 100 000.00 | 2 102 226.00 | 1.21 |
| EUR	SHELL INTERNATIONAL FINANCE BV-REG-S 1.25000% 15-15.03.22 | 1 900 000.00 | 1 924 988.80 | 1.11 |
| EUR	SIEMENS FINANCIERINGSMAATSCH NV-REG-S 1.75000% 13-12.03.21 | 1 900 000.00 | 1 924 950.80 | 1.11 |
| EUR	SKANDINAVISKA ENSKILDA BANKEN AB-REG-S 2.00000% 14-19.02.21 | 2 500 000.00 | 2 533 970.00 | 1.46 |
| EUR	SKY PLC-REG-S 1.50000% 14-15.09.21 | 2 400 000.00 | 2 426 769.60 | 1.40 |
| EUR	SVENSKA HANDELSBANKEN AB-REG-S 2.25000% 13-27.08.20 | 2 600 000.00 | 2 615 678.00 | 1.51 |
| EUR	TELEFONICA EMISIONES SA-REG-S 2.24200% 14-27.05.22 | 1 600 000.00 | 1 652 063.52 | 0.95 |
| EUR	TENNET HOLDING BV-REG-S 2.12500% 13-01.11.20 | 2 200 000.00 | 2 220 790.00 | 1.28 |
| EUR	TOTAL CAPITAL INTERNATIONAL SA-REG-S 2.12500% 13-19.11.21 | 1 600 000.00 | 1 641 577.60 | 0.95 |
| EUR	TOYOTA MOTOR CREDIT CORP-REG-S 1.80000% 13-23.07.20 | 2 400 000.00 | 2 407 104.00 | 1.39 |
| EUR	UNIBAIL-RODAMCO SE-REG-S 0.12500% 18-14.05.21 | 1 000 000.00 | 983 912.00 | 0.57 |
| EUR	UNICREDITO ITALIANO SPA 1.00000% 18-18.01.23 | 500 000.00 | 481 184.00 | 0.28 |
| EUR	VEOLIA ENVIRONNEMENT 4.24700% 10-06.01.21 | 1 500 000.00 | 1 536 771.00 | 0.89 |
| EUR	VERIZON COMMUNICATIONS INC 2.37500% 14-17.02.22 | 2 200 000.00 | 2 285 518.40 | 1.32 |
| EUR	VOLKSWAGEN FINANCIAL SERVICES AG-REG-S 0.25000% 18-16.10.20 | 2 400 000.00 | 2 387 620.80 | 1.38 |
| EUR	WUERTH FINANCE INTERNATIONAL BV 1.75000% 13-21.05.20 | 2 100 000.00 | 2 101 281.00 | 1.21 |
| Total EUR |  | 121 524 790.53 | 70.04 |
| Total Medium-Term Notes, fester Zins |  | 121 524 790.53 | 70.04 |

UBS (Lux) SICAV 2 – Low Duration EUR Bond (EUR) Halbjahresbericht per 30. April 2020
| Bezeichnung | Anzahl/ | Bewertung in EUR | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |

Medium-Term Notes, Nullcoupon
| EUR |  |
| --- | --- |
| EUR | DIAGEO FINANCE PLC-REG-S 0.00000% 17-17.11.20 | 2 400 000.00 | 2 396 798.40 | 1.38 |
| EUR | HENKEL AG & CO KGAA-REG-S 0.00000% 16-13.09.21 | 1 300 000.00 | 1 298 115.00 | 0.75 |
| EUR | SANOFI-REG-S 0.00000% 19-21.03.22 | 2 800 000.00 | 2 802 777.60 | 1.62 |
| Total EUR |  |  | 6 497 691.00 | 3.75 |
| Total Medium-Term Notes, Nullcoupon |  | 6 497 691.00 | 3.75 |
| Medium-Term Notes, variabler Zins |  |  |  |
| EUR |  |  |  |
| EUR	ABB FINANCE BV-REG-S 3M EURIBOR+35BP 19-12.10.20 | 1 700 000.00 | 1 699 099.00 | 0.98 |
| EUR	ABN AMRO BANK NV-REG-S 3M EURIBOR+40BP 19-15.01.21 | 900 000.00 | 898 704.00 | 0.52 |
| EUR	ALLIANZ FINANCE II-SUB 5.750%/3M EURIBOR+334.9BP 11-08.07.41 | 1 400 000.00 | 1 471 677.20 | 0.85 |
| EUR	CREDIT AGRICOLE SA LONDON-REG-S 3M EURIBOR+55BP 19-17.01.22 | 2 300 000.00 | 2 288 523.00 | 1.32 |
| EUR	ENBW ENERGIE BADEN-WUERTT-REG-S-SUB 3.625%/VAR 14-02.04.76 | 900 000.00 | 912 177.00 | 0.53 |
| EUR	GOLDMAN SACHS GROUP-REG-S 3M EURIBOR+70BP 15-29.05.20 | 700 000.00 | 699 847.40 | 0.40 |
| EUR	NATIONAL AUSTRALIA BK LTD-REG-S 3M EURIBOR+57BP 16-19.04.21 | 1 300 000.00 | 1 298 598.60 | 0.75 |
| EUR	OP CORPORATE BANK PLC-REG-S 3M EURIBOR+50BP 18-22.05.21 | 900 000.00 | 897 120.00 | 0.52 |
| EUR	SOCIETE GENERALE-REG-S 3M EURIBOR+37BP 19-14.01.21 | 2 200 000.00 | 2 194 962.00 | 1.26 |
| EUR	TOTAL SA-REG-S-SUB 2.250%/VAR 15-PRP | 1 100 000.00 | 1 080 750.00 | 0.62 |
| EUR	WESTPAC BANKING CORP-REG-S 3M EURIBOR+50BP 18-04.12.20 | 2 000 000.00 | 1 997 628.00 | 1.15 |
| Total EUR |  | 15 439 086.20 | 8.90 |
| Total Medium-Term Notes, variabler Zins |  | 15 439 086.20 | 8.90 |
| Anleihen, fester Zins |  |  |  |
| EUR |  |  |  |
| EUR	AT&T INC 2.65000% 13-17.12.21 | 1 000 000.00 | 1 028 128.00 | 0.59 |
| EUR	COCA-COLA EUROPEAN PARTNERS PLC-REG-S 0.75000% 16-24.02.22 | 1 700 000.00 | 1 706 143.80 | 0.98 |
| EUR	CREDIT SUISSE LONDON BRANCH-REG-S 1.12500% 15-15.09.20 | 2 400 000.00 | 2 406 945.60 | 1.39 |
| EUR	INTERNATIONAL BUSINESS MACHINES CORP 1.87500% 13-06.11.20 | 1 400 000.00 | 1 410 833.20 | 0.81 |
| EUR	ORIGIN ENERGY FINANCE LTD-REG-S 3.50000% 13-04.10.21 | 1 200 000.00 | 1 242 192.00 | 0.71 |
| EUR	PFIZER INC 0.25000% 17-06.03.22 | 600 000.00 | 602 160.00 | 0.35 |
| EUR	SAP SE-REG-S 0.25000% 18-10.03.22 | 1 100 000.00 | 1 103 823.60 | 0.64 |
| EUR	SUMITOMO MITSUI BANKING CORP-REG-S 2.25000% 13-16.12.20 | 1 400 000.00 | 1 415 831.20 | 0.82 |
| EUR	TELSTRA CORP LTD 3.62500% 10-15.03.21 | 1 700 000.00 | 1 749 045.00 | 1.01 |
| Total EUR |  | 12 665 102.40 | 7.30 |
| Total Anleihen, fester Zins |  | 12 665 102.40 | 7.30 |
| Anleihen, Nullcoupon |  |  |  |
| EUR |  |  |  |
| EUR	COCA-COLA CO/THE 0.00000% 17-09.03.21 | 1 000 000.00 | 998 264.00 | 0.57 |
| EUR	GLAXOSMITHKLINE CAPITAL PLC-REG-S 0.00000% 17-12.09.20 | 1 800 000.00 | 1 798 747.20 | 1.04 |
| Total EUR |  | 2 797 011.20 | 1.61 |
| Total Anleihen, Nullcoupon |  | 2 797 011.20 | 1.61 |
| Anleihen, variabler Zins |  |  |  |
| EUR |  |  |  |
| EUR	BHP BILLITON FINANCE LTD-REG-S-SUB 4.750%/VAR 15-22.04.76 | 1 000 000.00 | 1 019 936.00 | 0.59 |
| EUR	ENGIE SA-REG-S-SUB 4.750%/VAR 13-PRP | 1 100 000.00 | 1 133 000.00 | 0.65 |
| Total EUR |  | 2 152 936.00 | 1.24 |
| Total Anleihen, variabler Zins | 2 152 936.00 | 1.24 |
| Total Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden | 161 876 033.33 | 93.30 |
| Wertpapiere und Geldmarktinstrumente, die an einem anderen geregelten Markt gehandelt werden |  |  |
| Medium-Term Notes, fester Zins |  |  |
| EUR |  |  |
| EUR	BAT INTERNATIONAL FINANCE PLC 4.00000% 10-07.07.20	2 200 000.00 | 2 212 293.60 | 1.27 |
| Total EUR | 2 212 293.60 | 1.27 |
| Total Medium-Term Notes, fester Zins | 2 212 293.60 | 1.27 |
| Total Wertpapiere und Geldmarktinstrumente, die an einem anderen geregelten Markt gehandelt werden | 2 212 293.60 | 1.27 |
| Total des Wertpapierbestandes | 164 088 326.93 | 94.57 |

UBS (Lux) SICAV 2 – Low Duration EUR Bond (EUR) Halbjahresbericht per 30. April 2020
| Bezeichnung	Anzahl/ | Bewertung in EUR | in % des |
| --- | --- | --- |
| Nominal | NR Kursgewinn | Netto- |
|  | (-verlust) auf Futures/ | vermögens |
|  | Devisentermin- |  |
|  | kontrakten/ |  |
|  | Swaps (Erl. 1) |  |
| Derivative Instrumente |  |  |  |
| Derivative Instrumente, die an einer offiziellen Börse gehandelt werden Finanzterminkontrakte auf Anleihen |  |  |  |
|  |  |  |  |
| EUR	EURO-SCHATZ FUTURE 08.06.20 | -145.00 | 7 250.00 | 0.00 |
| Total Finanzterminkontrakte auf Anleihen |  | 7 250.00 | 0.00 |
| Total Derivative Instrumente, die an einer offiziellen Börse gehandelt werden |  | 7 250.00 | 0.00 |
| Total Derivative Instrumente |  | 7 250.00 | 0.00 |
| Devisenterminkontrakte Devisenterminkontrakte (Kauf/Verkauf) |  |  |  |

| SEK | 79 760 700.00 | EUR | 7 216 631.21 | 4.5.2020 | 239 023.53 | 0.14 |
| --- | --- | --- | --- | --- | --- | --- |
| SEK | 1 475 300.00 | EUR | 133 159.66 | 4.5.2020 | 4 744.44 | 0.00 |
| EUR | 798 523.12 | SEK | 8 769 000.00 | 4.5.2020 | -21 161.72 | -0.01 |
| EUR | 291 511.37 | SEK | 3 204 400.00 | 4.5.2020 | -8 020.86 | 0.00 |
| SEK | 69 262 600.00 | EUR | 6 463 892.35 | 2.6.2020 | 8 452.62 | 0.00 |
| Total Devisenterminkontrakte (Kauf/Verkauf) | 223 038.01 | 0.13 |
|  |  |  |
| Bankguthaben, Sicht- und Fristgelder und andere liquide Mittel | 7 646 340.93 | 4.41 |
| Andere Aktiva und Passiva | 1 543 546.31 | 0.89 |
| Total des Nettovermögens | 173 508 502.18 | 100.00 |

UBS (Lux) SICAV 2 – Low Duration EUR Bond (EUR) Halbjahresbericht per 30. April 2020