# UBS (Lux) Bond SICAV – Asian High Yield (USD)
| Most important figures |  |
| --- | --- |
|  | ISIN | 30.11.2020 | 31.5.2020 | 31.5.2019 |
| Net assets in USD |  | 2 723 118 785.96 | 1 293 042 503.64 | 247 306 013.74 |
| Class F-acc | LU0949706286 |  |  |  |
| Shares outstanding |  | 411 315.7110 | 334 219.4960 | 73 426.0000 |
| Net asset value per share in USD |  | 172.93 | 160.00 | 160.00 |
| Issue and redemption price per share in USD 1 |  | 172.93 | 158.11 | 160.00 |
| Class F-dist 2 | LU2073878949 |  |  |  |
| Shares outstanding |  | 420 000.0000 | 298 000.0000 | - |
| Net asset value per share in USD |  | 101.65 | 96.92 | - |
| Issue and redemption price per share in USD 1 |  | 101.65 | 95.78 | - |
| Class I-A1-acc | LU0871581103 |  |  |  |
| Shares outstanding |  | 772 880.3940 | 1 639 873.6450 | 2 359.6900 |
| Net asset value per share in USD |  | 116.56 | 107.93 | 108.12 |
| Issue and redemption price per share in USD 1 |  | 116.56 | 106.66 | 108.12 |
| Class (SEK hedged) I-A1-acc 3 | LU2191342232 |  |  |  |
| Shares outstanding |  | 175 218.0320 | - | - |
| Net asset value per share in SEK |  | 733.52 | - | - |
| Issue and redemption price per share in SEK 1 |  | 733.52 | - | - |
| Class I-A3-acc 4 | LU2177575094 |  |  |  |
| Shares outstanding |  | 2 087 490.9110 | - | - |
| Net asset value per share in USD |  | 104.85 | - | - |
| Issue and redemption price per share in USD 1 |  | 104.85 | - | - |
| Class (GBP hedged) I-A3-acc 5 | LU2177569360 |  |  |  |
| Shares outstanding |  | 80 938.2740 | - | - |
| Net asset value per share in GBP |  | 105.03 | - | - |
| Issue and redemption price per share in GBP 1 |  | 105.03 | - | - |
| Class (GBP hedged) I-A3-dist 5 | LU2181694816 |  |  |  |
| Shares outstanding |  | 160 096.1570 | - | - |
| Net asset value per share in GBP |  | 105.02 | - | - |
| Issue and redemption price per share in GBP 1 |  | 105.02 | - | - |
| Class I-B-acc | LU1739859327 |  |  |  |
| Shares outstanding |  | 693 913.6890 | 422 930.1780 | 85 789.3520 |
| Net asset value per share in USD |  | 120.03 | 110.82 | 110.38 |
| Issue and redemption price per share in USD 1 |  | 120.03 | 109.51 | 110.38 |
| Class (CHF hedged) I-B-acc 6 | LU2240824107 |  |  |  |
| Shares outstanding |  | 39 741.3470 | - | - |
| Net asset value per share in CHF |  | 101.99 | - | - |
| Issue and redemption price per share in CHF 1 |  | 101.99 | - | - |
| Class (EUR hedged) I-B-acc 7 | LU2198571015 |  |  |  |
| Shares outstanding |  | 93 377.8100 | - | - |
| Net asset value per share in EUR |  | 104.37 | - | - |
| Issue and redemption price per share in EUR 1 |  | 104.37 | - | - |
| Class (EUR hedged) I-B-dist 8 | LU2197080505 |  |  |  |
| Shares outstanding |  | 445 247.3310 | - | - |
| Net asset value per share in EUR |  | 104.81 | - | - |
| Issue and redemption price per share in EUR 1 |  | 104.81 | - | - |
| Class I-X-dist | LU0883523861 |  |  |  |
| Shares outstanding |  | 2 174 245.3000 | 1 378 211.2250 | 275 770.6660 |
| Net asset value per share in USD |  | 99.76 | 97.75 | 103.28 |
| Issue and redemption price per share in USD 1 |  | 99.76 | 96.60 | 103.28 |
| Class K-1-acc | LU0725271869 |  |  |  |
| Shares outstanding |  | 2.3000 | 2.4000 | 0.3000 |
| Net asset value per share in USD |  | 8 439 592.89 | 7 824 748.28 | 7 858 814.83 |
| Issue and redemption price per share in USD 1 |  | 8 439 592.89 | 7 732 416.25 | 7 858 814.83 |
| Class K-1-mdist 9 | LU2179105015 |  |  |  |
| Shares outstanding |  | 4.6000 | - | - |
| Net asset value per share in USD |  | 5 093 591.84 | - | - |
| Issue and redemption price per share in USD 1 |  | 5 093 591.84 | - | - |
| Class K-B-mdist 10 | LU2204822782 |  |  |  |
| Shares outstanding |  | 145 359.9800 | - | - |
| Net asset value per share in USD |  | 101.73 | - | - |
| Issue and redemption price per share in USD 1 |  | 101.73 | - | - |

UBS (Lux) Bond SICAV – Asian High Yield (USD) Semi-Annual Report as of 30 November 2020
|  | ISIN | 30.11.2020 | 31.5.2020 | 31.5.2019 |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Class (EUR hedged) K-B-mdist 11 | LU2204822949 |  |  |  |
| Shares outstanding |  | 67 651.6710 | - | - |
| Net asset value per share in EUR |  | 101.01 | - | - |
| Issue and redemption price per share in EUR 1 |  | 101.01 | - | - |
| Class K-X-acc | LU1957417949 |  |  |  |
| Shares outstanding |  | 164 684.0390 | 188 260.5750 | 99 495.3510 |
| Net asset value per share in USD |  | 109.73 | 101.28 | 100.80 |
| Issue and redemption price per share in USD 1 |  | 109.73 | 100.08 | 100.80 |
| Class (EUR hedged) K-X-mdist 12 | LU1957417865 |  |  |  |
| Shares outstanding |  | - | 47 055.6450 | 23 500.0000 |
| Net asset value per share in EUR |  | - | 91.41 | 99.70 |
| Issue and redemption price per share in EUR 1 |  | - | 90.33 | 99.70 |
| Class P-acc | LU0626906662 |  |  |  |
| Shares outstanding |  | 1 742 539.2920 | 1 028 251.1590 | 148 003.3460 |
| Net asset value per share in USD |  | 161.49 | 150.12 | 151.51 |
| Issue and redemption price per share in USD 1 |  | 161.49 | 148.35 | 151.51 |
| Class (CHF hedged) P-acc | LU0626907470 |  |  |  |
| Shares outstanding |  | 86 571.2010 | 55 632.6460 | 40 833.4360 |
| Net asset value per share in CHF |  | 139.07 | 130.06 | 135.40 |
| Issue and redemption price per share in CHF 1 |  | 139.07 | 128.53 | 135.40 |
| Class (EUR hedged) P-acc | LU0626907397 |  |  |  |
| Shares outstanding |  | 387 431.9660 | 183 106.2150 | 95 846.6690 |
| Net asset value per share in EUR |  | 144.12 | 134.66 | 139.50 |
| Issue and redemption price per share in EUR 1 |  | 144.12 | 133.07 | 139.50 |
| Class P-dist | LU0725271786 |  |  |  |
| Shares outstanding |  | 214 736.7700 | 142 238.6460 | 66 041.4660 |
| Net asset value per share in USD |  | 107.06 | 103.56 | 109.48 |
| Issue and redemption price per share in USD 1 |  | 107.06 | 102.34 | 109.48 |
| Class P-mdist | LU0626906746 |  |  |  |
| Shares outstanding |  | 4 880 252.0020 | 2 298 110.2570 | 154 898.1270 |
| Net asset value per share in USD |  | 91.03 | 87.46 | 94.13 |
| Issue and redemption price per share in USD 1 |  | 91.03 | 86.43 | 94.13 |
| Class (AUD hedged) P-mdist 13 | LU2199720918 |  |  |  |
| Shares outstanding |  | 59 641.7410 | - | - |
| Net asset value per share in AUD |  | 100.65 | - | - |
| Issue and redemption price per share in AUD 1 |  | 100.65 | - | - |
| Class (HKD) P-mdist 14 | LU2184895089 |  |  |  |
| Shares outstanding |  | 138 959.8680 | - | - |
| Net asset value per share in HKD |  | 999.55 | - | - |
| Issue and redemption price per share in HKD 1 |  | 999.55 | - | - |
| Class (SGD hedged) P-mdist 15 | LU0626907124 |  |  |  |
| Shares outstanding |  | 985 781.9820 | 419 262.3710 | - |
| Net asset value per share in SGD |  | 98.28 | 94.42 | - |
| Issue and redemption price per share in SGD 1 |  | 98.28 | 93.31 | - |
| Class (ZAR hedged) P-mdist 16 | LU2185891624 |  |  |  |
| Shares outstanding |  | 16 256.6290 | - | - |
| Net asset value per share in ZAR |  | 994.90 | - | - |
| Issue and redemption price per share in ZAR 1 |  | 994.90 | - | - |
| Class Q-acc | LU1240770955 |  |  |  |
| Shares outstanding |  | 1 972 548.2720 | 622 481.3330 | 399 449.0500 |
| Net asset value per share in USD |  | 136.44 | 126.45 | 126.85 |
| Issue and redemption price per share in USD 1 |  | 136.44 | 124.96 | 126.85 |
| Class (CHF hedged) Q-acc | LU1240770799 |  |  |  |
| Shares outstanding |  | 218 268.0470 | 210 050.9440 | 185 396.4680 |
| Net asset value per share in CHF |  | 122.97 | 114.65 | 118.67 |
| Issue and redemption price per share in CHF 1 |  | 122.97 | 113.30 | 118.67 |
| Class (EUR hedged) Q-acc | LU1240770872 |  |  |  |
| Shares outstanding |  | 454 642.8240 | 294 268.2270 | 98 299.5150 |
| Net asset value per share in EUR |  | 125.93 | 117.30 | 120.82 |
| Issue and redemption price per share in EUR 1 |  | 125.93 | 115.92 | 120.82 |
| Class (GBP hedged) Q-acc 5 | LU2183825921 |  |  |  |
| Shares outstanding |  | 52 116.0500 | - | - |
| Net asset value per share in GBP |  | 104.84 | - | - |
| Issue and redemption price per share in GBP 1 |  | 104.84 | - | - |
| Class Q-dist | LU1240771094 |  |  |  |
| Shares outstanding |  | 440 969.5310 | 192 054.3410 | 46 753.3500 |
| Net asset value per share in USD |  | 110.31 | 106.17 | 112.22 |
| Issue and redemption price per share in USD 1 |  | 110.31 | 104.92 | 112.22 |
| Class Q-mdist | LU1240771177 |  |  |  |
| Shares outstanding |  | 2 655 908.6860 | 1 654 829.7440 | 21 772.1490 |
| Net asset value per share in USD |  | 100.48 | 96.24 | 102.99 |
| Issue and redemption price per share in USD 1 |  | 100.48 | 95.10 | 102.99 |
| Class (SGD hedged) Q-mdist 17 | LU2181965513 |  |  |  |
| Shares outstanding |  | 227 157.6960 | - | - |
| Net asset value per share in SGD |  | 101.91 | - | - |
| Issue and redemption price per share in SGD 1 |  | 101.91 | - | - |

UBS (Lux) Bond SICAV – Asian High Yield (USD) Semi-Annual Report as of 30 November 2020
ISIN	30.11.2020	31.5.2020	31.5.2019
| Class U-X-acc	LU0626906829 |  |
| --- | --- |
| Shares outstanding | 13 345.0000 | 4 824.0000 | 2 172.0000 |
| Net asset value per share in USD | 12 265.17 | 11 317.92 | 11 259.59 |
| Issue and redemption price per share in USD 1 | 12 265.17 | 11 184.37 | 11 259.59 |
| 1  See note 1 2  First NAV: 14.11.2019 3  First NAV: 6.7.2020 4  First NAV: 10.6.2020 5  First NAV: 24.6.2020 6  First NAV: 13.10.2020 7  First NAV: 16.7.2020 8  First NAV: 30.6.2020 9  First NAV: 12.6.2020 10  First NAV: 31.7.2020 11  First NAV: 7.8.2020 12  The share class (EUR hedged) K-X-mdist was in circulation until 12.8.2020 13  First NAV: 5.8.2020 14  First NAV: 17.8.2020 15  First NAV: 2.9.2019 16  First NAV: 22.9.2020 17  First NAV: 9.6.2020 |  |  |  |


## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
China	27.37
Cayman Islands	12.46
Hong Kong	10.68
India	8.67
British Virgin Islands	7.20
Philippines	2.49
Mauritius	2.40
Singapore	2.22
Thailand	2.07
Sri Lanka	1.91
Macau	1.90
Indonesia	1.86
United Kingdom	1.45
United States	0.98
Malaysia	0.48
The Netherlands	0.42
Pakistan	0.12
Mongolia	0.09
Chile	0.06
South Korea	0.04
Australia	0.02
Total	84.89
Economic Breakdown as a % of net assets	
Real Estate	30.66
Finance & holding companies	19.12
Banks & credit institutions	8.63
Building industry & materials	4.83
Energy & water supply	4.09
Lodging, catering & leisure	3.16
Mining, coal & steel	2.35
Miscellaneous services	2.21
Countries & central governments	2.02
Traffic & transportation	1.28
Chemicals	1.15
Mortgage & funding institutions	1.08
Telecommunications	1.05
Petroleum	1.01
Electrical devices & components	0.87
Mechanical engineering & industrial equipment	0.44
Biotechnology	0.35
Retail trade, department stores	0.21
Electronics & semiconductors	0.13
Non-ferrous metals	0.06
Tobacco & alcohol	0.05
Pharmaceuticals, cosmetics & medical products	0.04
Healthcare & social services	0.03
Rubber & tyres	0.03
Aerospace industry	0.02
Miscellaneous trading companies	0.01
Textiles, garments & leather goods	0.01
Total	84.89
UBS (Lux) Bond SICAV – Asian High Yield (USD) Semi-Annual Report as of 30 November 2020

## Statement of Net Assets
Assets	30.11.2020
USD
Investments in securities, cost	2 314 662 499.90
Investments in securities, unrealized appreciation (depreciation)	2 946 915.66
Total investments in securities (Note 1)	2 311 715 584.24
Cash at banks, deposits on demand and deposit accounts	347 225 026.14*
Other liquid assets (Margins)	1 554 860.16
Receivable on subscriptions	25 493 582.83
Interest receivable on securities	41 126 208.05
Other receivables	142 508.08
Unrealized gain on financial futures (Note 1)	583 999.97
Total Assets	2 728 791 656.71
Liabilities
Unrealized gain on forward foreign exchange contracts (Note 1)	949 887.24
Interest payable on bank overdraft	-53.87
Payable on securities purchases (Note 1)	-17.75
Payable on redemptions	-4 536 213.79
Provisions for flat fee (Note 2)	-883 230.63
Provisions for taxe d’abonnement (Note 3)	-158 896.05
Provisions for other commissions and fees (Note 2)		-94 458.66		 Total provisions			-1 136 585.34
Total Liabilities	-5 672 870.75
Net assets at the end of the period	2 723 118 785.96

## Statement of Operations
Income	1.6.2020-30.11.2020
USD
Interest on liquid assets	19 809.61
Interest on securities	62 935 481.42
Income on securities lending (Note 12)	146 266.12
Total income	67 058 660.79
Expenses
Other income (Note 4)	3 957 103.64
Flat fee (Note 2)	-8 668 674.91
Taxe d’abonnement (Note 3)	-436 719.78
Cost on securities lending (Note 12)	-58 506.45
Other commissions and fees (Note 2)	-93 100.13
Net income (loss) on investments	57 774 133.49
Total expenses	-9 284 527.30
Interest on cash and bank overdraft	-27 526.03
Realized gain (loss) (Note 1)
Realized gain (loss) on market-priced securities without options	10 809 410.23
Realized gain (loss) on financial futures	3 945 866.29
Realized gain (loss) on forward foreign exchange contracts	12 404 546.43
Total realized gain (loss)	28 415 994.67
Net realized gain (loss) of the period	86 190 128.16
Changes in unrealized appreciation (depreciation) (Note 1)
Realized gain (loss) on foreign exchange	1 256 171.72
Unrealized appreciation (depreciation) on market-priced securities without options	76 366 932.84
Unrealized appreciation (depreciation) on financial futures	583 999.97
Total changes in unrealized appreciation (depreciation)	75 505 591.38
Net increase (decrease) in net assets as a result of operations	161 695 719.54
Unrealized appreciation (depreciation) on forward foreign exchange contracts	-1 445 341.43
* As at 30 November 2020, cash amounts serve as collateral for the counterparty Bank of America for an amount of USD 1 180 000.00, Citibank for an amount of USD 1 470 000.00 and JP Morgan for an amount of USD 3 177 000.00.
UBS (Lux) Bond SICAV – Asian High Yield (USD) Semi-Annual Report as of 30 November 2020
| Changes in Net Assets |  |
| --- | --- |
|  | USD |
|  | 1.6.2020-30.11.2020 |
| Net assets at the beginning of the period | 1 293 042 503.64 |
| Subscriptions | 1 854 847 621.38 |
| Redemptions | 	-552 765 539.36	 |
| Total net subscriptions (redemptions) | 1 302 082 082.02 |
| Dividend paid | -33 701 519.24 |
| Net income (loss) on investments | 57 774 133.49 |
| Total realized gain (loss) | 28 415 994.67 |
| Total changes in unrealized appreciation (depreciation) | 	75 505 591.38	 |
| Net increase (decrease) in net assets as a result of operations | 161 695 719.54 |
| Net assets at the end of the period | 2 723 118 785.96 |
| Changes in the Number of Shares outstanding |  |
|  | 1.6.2020-30.11.2020 |
| Class | F-acc |
| Number of shares outstanding at the beginning of the period | 334 219.4960 |
| Number of shares issued | 112 136.8760 |
| Number of shares redeemed | -35 040.6610 |
| Number of shares outstanding at the end of the period | 411 315.7110 |
| Class | F-dist |
| Number of shares outstanding at the beginning of the period | 298 000.0000 |
| Number of shares issued | 122 000.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 420 000.0000 |
| Class | I-A1-acc |
| Number of shares outstanding at the beginning of the period | 1 639 873.6450 |
| Number of shares issued | 1 771 255.2850 |
| Number of shares redeemed | -2 638 248.5360 |
| Number of shares outstanding at the end of the period | 772 880.3940 |
| Class | (SEK hedged) I-A1-acc |
| Number of shares outstanding at the beginning of the period | 0.0000 |
| Number of shares issued | 204 335.9050 |
| Number of shares redeemed | -29 117.8730 |
| Number of shares outstanding at the end of the period | 175 218.0320 |
| Class | I-A3-acc |
| Number of shares outstanding at the beginning of the period | 0.0000 |
| Number of shares issued | 2 411 412.9220 |
| Number of shares redeemed | -323 922.0110 |
| Number of shares outstanding at the end of the period | 2 087 490.9110 |
| Class | (GBP hedged) I-A3-acc |
| Number of shares outstanding at the beginning of the period | 0.0000 |
| Number of shares issued | 88 945.2560 |
| Number of shares redeemed | -8 006.9820 |
| Number of shares outstanding at the end of the period | 80 938.2740 |
| Class | (GBP hedged) I-A3-dist |
| Number of shares outstanding at the beginning of the period | 0.0000 |
| Number of shares issued | 167 680.6510 |
| Number of shares redeemed | -7 584.4940 |
| Number of shares outstanding at the end of the period | 160 096.1570 |
| Class | I-B-acc |
| Number of shares outstanding at the beginning of the period | 422 930.1780 |
| Number of shares issued | 284 257.5110 |
| Number of shares redeemed | -13 274.0000 |
| Number of shares outstanding at the end of the period | 693 913.6890 |
| Class | (CHF hedged) I-B-acc |
| Number of shares outstanding at the beginning of the period | 0.0000 |
| Number of shares issued | 39 741.3470 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 39 741.3470 |
| Class | (EUR hedged) I-B-acc |
| Number of shares outstanding at the beginning of the period | 0.0000 |
| Number of shares issued | 93 377.8100 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 93 377.8100 |
| Class | (EUR hedged) I-B-dist |
| Number of shares outstanding at the beginning of the period | 0.0000 |
| Number of shares issued | 449 146.7270 |
| Number of shares redeemed | -3 899.3960 |
| Number of shares outstanding at the end of the period | 445 247.3310 |
| Class | I-X-dist |
| Number of shares outstanding at the beginning of the period | 1 378 211.2250 |
| Number of shares issued | 830 102.6460 |
| Number of shares redeemed | -34 068.5710 |
| Number of shares outstanding at the end of the period | 2 174 245.3000 |

UBS (Lux) Bond SICAV – Asian High Yield (USD) Semi-Annual Report as of 30 November 2020
| Class | K-1-acc |
| --- | --- |
| Number of shares outstanding at the beginning of the period | 2.4000 |
| Number of shares issued | 0.7000 |
| Number of shares redeemed | -0.8000 |
| Number of shares outstanding at the end of the period | 2.3000 |
| Class | K-1-mdist |
| Number of shares outstanding at the beginning of the period | 0.0000 |
| Number of shares issued | 4.6000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 4.6000 |
| Class | K-B-mdist |
| Number of shares outstanding at the beginning of the period | 0.0000 |
| Number of shares issued | 145 359.9800 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 145 359.9800 |
| Class | (EUR hedged) K-B-mdist |
| Number of shares outstanding at the beginning of the period | 0.0000 |
| Number of shares issued | 67 651.6710 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 67 651.6710 |
| Class | K-X-acc |
| Number of shares outstanding at the beginning of the period | 188 260.5750 |
| Number of shares issued | 66 482.3630 |
| Number of shares redeemed | -90 058.8990 |
| Number of shares outstanding at the end of the period | 164 684.0390 |
| Class | (EUR hedged) K-X-mdist |
| Number of shares outstanding at the beginning of the period | 47 055.6450 |
| Number of shares issued | 24 113.1710 |
| Number of shares redeemed | -71 168.8160 |
| Number of shares outstanding at the end of the period | 0.0000 |
| Class | P-acc |
| Number of shares outstanding at the beginning of the period | 1 028 251.1590 |
| Number of shares issued | 876 140.5030 |
| Number of shares redeemed | -161 852.3700 |
| Number of shares outstanding at the end of the period | 1 742 539.2920 |
| Class | (CHF hedged) P-acc |
| Number of shares outstanding at the beginning of the period | 55 632.6460 |
| Number of shares issued | 32 384.8430 |
| Number of shares redeemed | -1 446.2880 |
| Number of shares outstanding at the end of the period | 86 571.2010 |
| Class | (EUR hedged) P-acc |
| Number of shares outstanding at the beginning of the period | 183 106.2150 |
| Number of shares issued | 243 297.0770 |
| Number of shares redeemed | -38 971.3260 |
| Number of shares outstanding at the end of the period | 387 431.9660 |
| Class | P-dist |
| Number of shares outstanding at the beginning of the period | 142 238.6460 |
| Number of shares issued | 109 255.0500 |
| Number of shares redeemed | -36 756.9260 |
| Number of shares outstanding at the end of the period | 214 736.7700 |
| Class | P-mdist |
| Number of shares outstanding at the beginning of the period | 2 298 110.2570 |
| Number of shares issued | 3 123 392.2090 |
| Number of shares redeemed | -541 250.4640 |
| Number of shares outstanding at the end of the period | 4 880 252.0020 |
| Class | (AUD hedged) P-mdist |
| Number of shares outstanding at the beginning of the period | 0.0000 |
| Number of shares issued | 59 641.7410 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 59 641.7410 |
| Class | (HKD) P-mdist |
| Number of shares outstanding at the beginning of the period | 0.0000 |
| Number of shares issued | 139 308.1320 |
| Number of shares redeemed | -348.2640 |
| Number of shares outstanding at the end of the period | 138 959.8680 |
| Class | (SGD hedged) P-mdist |
| Number of shares outstanding at the beginning of the period | 419 262.3710 |
| Number of shares issued | 640 025.5210 |
| Number of shares redeemed | -73 505.9100 |
| Number of shares outstanding at the end of the period | 985 781.9820 |
| Class | (ZAR hedged) P-mdist |
| Number of shares outstanding at the beginning of the period | 0.0000 |
| Number of shares issued | 16 256.6290 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 16 256.6290 |
| Class | Q-acc |
| Number of shares outstanding at the beginning of the period | 622 481.3330 |
| Number of shares issued | 1 470 638.9270 |
| Number of shares redeemed | -120 571.9880 |
| Number of shares outstanding at the end of the period | 1 972 548.2720 |

UBS (Lux) Bond SICAV – Asian High Yield (USD) Semi-Annual Report as of 30 November 2020
| Class |  |  | (CHF hedged) Q-acc |
| --- | --- | --- | --- |
| Number of shares outstanding at the beginning of the period |  |  | 210 050.9440 |
| Number of shares issued |  |  | 70 726.0310 |
| Number of shares redeemed |  |  | -62 508.9280 |
| Number of shares outstanding at the end of the period |  |  | 218 268.0470 |
| Class |  |  | (EUR hedged) Q-acc |
| Number of shares outstanding at the beginning of the period |  |  | 294 268.2270 |
| Number of shares issued |  |  | 396 029.5030 |
| Number of shares redeemed |  |  | -235 654.9060 |
| Number of shares outstanding at the end of the period |  |  | 454 642.8240 |
| Class |  |  | (GBP hedged) Q-acc |
| Number of shares outstanding at the beginning of the period |  |  | 0.0000 |
| Number of shares issued |  |  | 52 336.2060 |
| Number of shares redeemed |  |  | -220.1560 |
| Number of shares outstanding at the end of the period |  |  | 52 116.0500 |
| Class |  |  | Q-dist |
| Number of shares outstanding at the beginning of the period |  |  | 192 054.3410 |
| Number of shares issued |  |  | 286 090.6710 |
| Number of shares redeemed |  |  | -37 175.4810 |
| Number of shares outstanding at the end of the period |  |  | 440 969.5310 |
| Class |  |  | Q-mdist |
| Number of shares outstanding at the beginning of the period |  |  | 1 654 829.7440 |
| Number of shares issued |  |  | 1 077 957.0970 |
| Number of shares redeemed |  |  | -76 878.1550 |
| Number of shares outstanding at the end of the period |  |  | 2 655 908.6860 |
| Class |  |  | (SGD hedged) Q-mdist |
| Number of shares outstanding at the beginning of the period |  |  | 0.0000 |
| Number of shares issued |  |  | 229 139.6600 |
| Number of shares redeemed |  |  | -1 981.9640 |
| Number of shares outstanding at the end of the period |  |  | 227 157.6960 |
| Class |  |  | U-X-acc |
| Number of shares outstanding at the beginning of the period |  |  | 4 824.0000 |
| Number of shares issued |  |  | 10 880.0000 |
| Number of shares redeemed |  |  | -2 359.0000 |
| Number of shares outstanding at the end of the period |  |  | 13 345.0000 |
| Annual Distribution 1 |  |  |  |
| UBS (Lux) Bond SICAV – Asian High Yield (USD)	Ex-Date | Pay-Date | Currency | Amount per share |
| F-dist	3.8.2020 | 6.8.2020 | USD | 3.00 |
| I-X-dist	3.8.2020 | 6.8.2020 | USD | 5.97 |
| P-dist	3.8.2020 | 6.8.2020 | USD | 4.23 |
| Q-dist	3.8.2020 | 6.8.2020 | USD | 4.13 |
| Monthly Distribution 1 |  |  |  |
| UBS (Lux) Bond SICAV – Asian High Yield (USD)	Ex-Date | Pay-Date | Currency | Amount per share |
| K-1-mdist	15.7.2020 | 20.7.2020 | USD | 26 803.15 |
| K-1-mdist	17.8.2020 | 20.8.2020 | USD | 26 538.33 |
| K-1-mdist	15.9.2020 | 18.9.2020 | USD | 28 591.94 |
| K-1-mdist	15.10.2020 | 20.10.2020 | USD | 28 003.49 |
| K-1-mdist	16.11.2020 | 19.11.2020 | USD | 28 098.97 |
| K-B-mdist	15.9.2020 | 18.9.2020 | USD | 0.57 |
| K-B-mdist	15.10.2020 | 20.10.2020 | USD | 0.56 |
| K-B-mdist	16.11.2020 | 19.11.2020 | USD | 0.56 |
| (EUR hedged) K-B-mdist	15.9.2020 | 18.9.2020 | EUR | 0.49 |
| (EUR hedged) K-B-mdist	15.10.2020 | 20.10.2020 | EUR | 0.49 |
| (EUR hedged) K-B-mdist	16.11.2020 | 19.11.2020 | EUR | 0.49 |
| (EUR hedged) K-X-mdist	15.6.2020 | 18.6.2020 | EUR | 0.53 |
| (EUR hedged) K-X-mdist	15.7.2020 | 20.7.2020 | EUR | 0.50 |
| P-mdist	15.6.2020 | 18.6.2020 | USD | 0.50 |
| P-mdist	15.7.2020 | 20.7.2020 | USD | 0.48 |
| P-mdist	17.8.2020 | 20.8.2020 | USD | 0.48 |
| P-mdist	15.9.2020 | 18.9.2020 | USD | 0.51 |
| P-mdist	15.10.2020 | 20.10.2020 | USD | 0.50 |
| P-mdist	16.11.2020 | 19.11.2020 | USD | 0.50 |
| (AUD hedged) P-mdist	15.9.2020 | 18.9.2020 | AUD | 0.56 |
| (AUD hedged) P-mdist	15.10.2020 | 20.10.2020 | AUD | 0.54 |
| (AUD hedged) P-mdist	16.11.2020 | 19.11.2020 | AUD | 0.54 |
| (HKD) P-mdist	15.9.2020 | 18.9.2020 | HKD | 5.51 |
| (HKD) P-mdist	15.10.2020 | 20.10.2020 | HKD | 5.40 |
| (HKD) P-mdist	16.11.2020 | 19.11.2020 | HKD | 5.39 |
| (SGD hedged) P-mdist	15.6.2020 | 18.6.2020 | SGD | 0.50 |
| (SGD hedged) P-mdist	15.7.2020 | 20.7.2020 | SGD | 0.50 |
| (SGD hedged) P-mdist	17.8.2020 | 20.8.2020 | SGD | 0.50 |
| (SGD hedged) P-mdist	15.9.2020 | 18.9.2020 | SGD | 0.53 |
| (SGD hedged) P-mdist	15.10.2020 | 20.10.2020 | SGD | 0.52 |
| 1  See note 5 |  |  |  |

UBS (Lux) Bond SICAV – Asian High Yield (USD) Semi-Annual Report as of 30 November 2020
| UBS (Lux) Bond SICAV – Asian High Yield (USD) | Ex-Date | Pay-Date | Currency | Amount per share |
| --- | --- | --- | --- | --- |
| (SGD hedged) P-mdist | 16.11.2020 | 19.11.2020 | SGD | 0.52 |
| (ZAR hedged) P-mdist | 15.10.2020 | 20.10.2020 | ZAR | 9.51 |
| (ZAR hedged) P-mdist | 16.11.2020 | 19.11.2020 | ZAR | 9.49 |
| Q-mdist | 15.6.2020 | 18.6.2020 | USD | 0.55 |
| Q-mdist | 15.7.2020 | 20.7.2020 | USD | 0.53 |
| Q-mdist | 17.8.2020 | 20.8.2020 | USD | 0.53 |
| Q-mdist | 15.9.2020 | 18.9.2020 | USD | 0.56 |
| Q-mdist | 15.10.2020 | 20.10.2020 | USD | 0.55 |
| Q-mdist | 16.11.2020 | 19.11.2020 | USD | 0.55 |
| (SGD hedged) Q-mdist | 15.7.2020 | 20.7.2020 | SGD | 0.52 |
| (SGD hedged) Q-mdist | 17.8.2020 | 20.8.2020 | SGD | 0.51 |
| (SGD hedged) Q-mdist | 15.9.2020 | 18.9.2020 | SGD | 0.55 |
| (SGD hedged) Q-mdist | 15.10.2020 | 20.10.2020 | SGD | 0.54 |
| (SGD hedged) Q-mdist | 16.11.2020 | 19.11.2020 | SGD | 0.54 |

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

## Statement of Investments in Securities and other Net Assets as of 30 November 2020
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Transferable securities and money market instruments listed on an official stock exchange Notes, fixed rate |  |  |  |
| CNY |  |  |  |
| CNY	CIFI HOLDINGS GROUP CO LTD-REG-S 6.70000% 19-23.04.22 | 19 000 000.00 | 2 965 051.58 | 0.11 |
| Total CNY |  | 2 965 051.58 | 0.11 |
| USD |  |  |  |
| USD	ABJA INVESTMENT CO PTE LTD-REG-S 5.45000% 18-24.01.28 | 425 000.00 | 437 656.50 | 0.02 |
| USD	ADANI ELECTRICITY MUMBAI LTD-REG-S 3.94900% 20-12.02.30 | 8 825 000.00 | 9 244 187.50 | 0.34 |
| USD	ADANI PORTS AND SPECIAL ECO ZONE-REG-S 3.37500% 19-24.07.24 | 600 000.00 | 620 625.00 | 0.02 |
| USD	AGILE GROUP HOLDINGS LTD-REG-S 5.75000% 20-02.01.25 | 22 200 000.00 | 22 227 750.00 | 0.82 |
| USD	ANTON OILFIELD SERVICES GROUP-REG-S 7.50000% 19-02.12.22 | 2 700 000.00 | 1 946 700.00 | 0.07 |
| USD	APL REALTY HOLDINGS PTE LTD-REG-S 5.95000% 17-02.06.24 | 6 200 000.00 | 4 474 292.00 | 0.16 |
| USD	AZURE POWER ENERGY LTD-REG-S 5.50000% 17-03.11.22 | 13 900 000.00 | 14 308 312.50 | 0.53 |
| USD	BRIGHT SCHOLAR EDU HOLD LTD-REG-S 7.45000% 19-31.07.22 | 900 000.00 | 931 500.00 | 0.03 |
| USD	CENTRAL CHINA REAL ESTATE-REG-S 7.25000% 19-24.04.23 | 5 525 000.00 | 5 552 625.00 | 0.20 |
| USD	CENTRAL CHINA REAL ESTATE-REG-S 7.25000% 20-16.07.24 | 800 000.00 | 781 000.00 | 0.03 |
| USD	CENTRAL CHINA REAL ESTATE-REG-S 7.65000% 20-27.08.23 | 11 450 000.00 | 11 535 875.00 | 0.42 |
| USD	CHINA AOYUAN GROUP LTD-REG-S 7.95000% 19-19.02.23 | 5 000 000.00 | 5 262 500.00 | 0.19 |
| USD	CHINA AOYUAN GROUP LTD-REG-S 6.20000% 20-24.03.26 | 20 000 000.00 | 19 981 250.00 | 0.73 |
| USD	CHINA AOYUAN GROUP LTD-REG-S 5.98000% 20-18.08.25 | 4 000 000.00 | 4 012 400.00 | 0.15 |
| USD	CHINA EVERGRANDE GROUP-REG-S 9.50000% 19-11.04.22 | 3 000 000.00 | 2 727 187.49 | 0.10 |
| USD	CHINA EVERGRANDE GROUP-REG-S 10.00000% 19-11.04.23 | 5 000 000.00 | 4 260 937.50 | 0.16 |
| USD	CHINA EVERGRANDE GROUP-REG-S 10.50000% 19-11.04.24 | 4 000 000.00 | 3 305 000.00 | 0.12 |
| USD	CHINA EVERGRANDE GROUP-REG-S 12.00000% 20-22.01.24 | 7 000 000.00 | 6 118 437.50 | 0.22 |
| USD	CHINA SOUTH CITY HOLDINGS LTD-REG-S 7.25000% 17-20.11.22 | 2 000 000.00 | 1 801 250.00 | 0.07 |
| USD	CHINA SOUTH CITY HOLDINGS LTD-REG-S 11.50000% 19-12.02.22 | 3 600 000.00 | 3 577 500.00 | 0.13 |
| USD	CIFI HOLDINGS GROUP CO LTD-REG-S 6.00000% 20-16.07.25 | 2 700 000.00 | 2 827 406.25 | 0.10 |
| USD	CIFI HOLDINGS GROUP CO LTD-REG-S 5.95000% 20-20.10.25 | 8 000 000.00 | 8 390 000.00 | 0.31 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 7.25000% 19-08.04.26 | 5 000 000.00 | 5 584 375.00 | 0.21 |
| USD	EASY TACTIC LTD-REG-S 5.75000% 17-13.01.22 | 2 500 000.00 | 2 349 218.75 | 0.09 |
| USD	EASY TACTIC LTD-REG-S 8.12500% 19-11.07.24 | 1 775 000.00 | 1 513 742.18 | 0.06 |
| USD	EASY TACTIC LTD-REG-S 8.62500% 20-05.03.24 | 6 000 000.00 | 5 274 375.00 | 0.19 |
| USD	FANTASIA HOLDINGS GROUP CO LTD-REG-S 11.75000% 19-17.04.22 | 2 600 000.00 | 2 715 375.00 | 0.10 |
| USD	FANTASIA HOLDINGS GROUP CO LTD-REG-S 12.25000% 19-18.10.22 | 1 425 000.00 | 1 510 500.00 | 0.06 |
| USD	FANTASIA HOLDINGS GROUP CO LTD-REG-S 10.87500% 20-09.01.23 | 13 950 000.00 | 14 381 578.13 | 0.53 |
| USD	FANTASIA HOLDINGS GROUP CO LTD-REG-S 11.87500% 20-01.06.23 | 8 325 000.00 | 8 728 242.19 | 0.32 |
| USD	FANTASIA HOLDINGS GROUP CO LTD-REG-S 9.25000% 20-28.07.23 | 17 150 000.00 | 16 892 750.00 | 0.62 |
| USD	FORTUNE STAR BVI LTD-REG-S 6.85000% 20-02.07.24 | 18 575 000.00 | 19 503 750.00 | 0.72 |
| USD	FORTUNE STAR BVI LTD-REG-S 5.95000% 20-19.10.25 | 12 750 000.00 | 13 036 875.00 | 0.48 |
| USD	GOLDEN EAGLE RETAIL GROUP-REG-S 4.62500% 13-21.05.23 | 5 750 000.00 | 5 787 734.37 | 0.21 |
| USD	GREENKO DUTCH BV-REG-S 5.25000% 17-24.07.24 | 1 000 000.00 | 1 032 187.50 | 0.04 |
| USD	GREENKO MAURITIUS LTD-REG-S 6.25000% 19-21.02.23 | 18 575 000.00 | 19 225 125.00 | 0.71 |
| USD	GREENTOWN CHINA HOLDINGS LTD-REG-S 5.65000% 20-13.07.25 | 7 450 000.00 | 7 701 437.50 | 0.28 |
| USD	HEJUN SHUNZE INVESTMENT CO LTD-REG-S 9.00000% 20-04.03.21 | 5 000 000.00 | 4 993 750.00 | 0.18 |
| USD	HEJUN SHUNZE INVESTMENT CO LTD-REG-S 11.00000% 20-04.06.22 | 10 250 000.00 | 10 403 750.00 | 0.38 |
| USD	HILONG HOLDING LTD-REG-S *DEFAULTED* 8.25000% 19-26.09.22 | 2 500 000.00 | 1 405 859.50 | 0.05 |
| USD	INTERNATIONAL CONT TERM SERV-REG-S 4.75000% 20-17.06.30 | 19 750 000.00 | 21 181 875.00 | 0.78 |
| USD	JGSH PHILIPPINES LTD-REG-S 4.12500% 20-09.07.30 | 11 650 000.00 | 12 072 312.50 | 0.44 |
| USD	JINGRUI HOLDINGS LTD-REG-S 10.87500% 19-04.10.21 | 6 000 000.00 | 5 887 500.00 | 0.22 |
| USD	JINGRUI HOLDINGS LTD-REG-S 12.75000% 20-11.03.22 | 1 000 000.00 | 987 812.50 | 0.04 |
| USD	JINGRUI HOLDINGS LTD-REG-S 14.50000% 20-19.02.23 | 6 000 000.00 | 5 979 900.00 | 0.22 |
| USD	KAISA GROUP HOLDINGS LTD-REG-S 11.50000% 19-30.01.23 | 5 000 000.00 | 5 160 937.50 | 0.19 |
| USD	KAISA GROUP HOLDINGS LTD-REG-S 10.87500% 19-23.07.23 | 2 250 000.00 | 2 299 921.88 | 0.08 |
| USD	KAISA GROUP HOLDINGS LTD-REG-S 11.95000% 19-12.11.23 | 13 000 000.00 | 13 548 437.50 | 0.50 |
| USD	KAISA GROUP HOLDINGS LTD-REG-S 10.50000% 20-15.01.25 | 6 400 000.00 | 6 273 999.99 | 0.23 |
| USD	KAISA GROUP HOLDINGS LTD-REG-S 9.95000% 20-23.07.25 | 15 000 000.00 | 14 325 000.00 | 0.53 |
| USD	KAISA GROUP HOLDINGS LTD-REG-S 11.25000% 20-16.04.25 | 44 575 000.00 | 44 421 773.43 | 1.63 |
| USD	KWG GROUP HOLDINGS LTD-REG-S 6.30000% 20-13.02.26 | 34 650 000.00 | 34 606 687.50 | 1.27 |
| USD	LOGAN GROUP CO LTD-REG-S 5.25000% 20-19.10.25 | 4 000 000.00 | 4 075 000.00 | 0.15 |
| USD	LOGAN PROPERTY HOLDINGS CO LTD-REG-S 5.25000% 17-23.02.23 | 3 250 000.00 | 3 282 500.00 | 0.12 |
| USD	MEDCO OAK TREE PTE LTD-REG-S 7.37500% 19-14.05.26 | 5 000 000.00 | 5 253 125.00 | 0.19 |
| USD	MELCO RESORTS FINANCE LTD-REG-S 4.87500% 17-06.06.25 | 750 000.00 | 766 447.50 | 0.03 |
| USD	MELCO RESORTS FINANCE LTD-REG-S 5.62500% 19-17.07.27 | 5 000 000.00 | 5 200 000.00 | 0.19 |
| USD	MELCO RESORTS FINANCE LTD-REG-S 5.37500% 19-04.12.29 | 8 500 000.00 | 8 694 735.00 | 0.32 |
| USD	MELCO RESORTS FINANCE LTD-REG-S 5.75000% 20-21.07.28 | 15 000 000.00 | 15 772 200.00 | 0.58 |
| USD	MGM CHINA HOLDINGS LTD-REG-S 5.25000% 20-18.06.25 | 17 950 000.00 | 18 410 058.50 | 0.68 |
| USD	MONGOLIA,GOVERNMENT OF-REG-S 5.12500% 12-05.12.22 | 1 302 000.00 | 1 347 163.12 | 0.05 |
| USD	NEERG ENERGY LTD-REG-S 6.00000% 17-13.02.22 | 12 730 000.00 | 12 948 796.87 | 0.48 |
| USD	PAKISTAN, ISLAMIC REPUBLIC OF-REG-S 6.87500% 17-05.12.27 | 3 250 000.00 | 3 344 453.12 | 0.12 |
| USD	PERIAMA HOLDINGS LLC/DE-REG-S 5.95000% 20-19.04.26 | 25 275 000.00 | 26 728 312.50 | 0.98 |
| USD	POWERLONG REAL ESTATE HOLDINGS-REG-S 6.95000% 19-23.07.23 | 8 000 000.00 | 8 250 000.00 | 0.30 |
| USD	REDCO PROPERTIES GROUP LTD-REG-S 13.00000% 20-27.05.23 | 2 100 000.00 | 2 206 968.75 | 0.08 |
| USD	REDCO PROPERTIES GROUP LTD-REG-S 11.00000% 20-06.08.22 | 4 200 000.00 | 4 273 500.00 | 0.16 |
| USD	REDSUN PROPERTIES GROUP LTD-REG-S 9.70000% 20-16.04.23 | 11 250 000.00 | 11 626 171.88 | 0.43 |
| USD	RENEW POWER PVT LTD-REG-S 6.45000% 19-27.09.22 | 15 000 000.00 | 15 534 375.00 | 0.57 |
| USD	RKPF OVERSEAS 2019 A LTD-REG-S 5.90000% 20-05.03.25 | 7 750 000.00 | 7 793 593.75 | 0.29 |
| USD	RONSHINE CHINA HOLDINGS LTD-REG-S 8.95000% 19-22.01.23 | 21 500 000.00 | 22 312 968.75 | 0.82 |
| USD	RONSHINE CHINA HOLDINGS LTD-REG-S 7.35000% 20-15.12.23 | 15 050 000.00 | 15 148 765.62 | 0.56 |
| USD	SCENERY JOURNEY LTD-REG-S 12.00000% 20-24.10.23 | 10 425 000.00 | 9 099 070.32 | 0.33 |
| USD	SEAZEN GROUP LTD-REG-S 6.45000% 20-11.06.22 | 12 000 000.00 | 12 225 000.00 | 0.45 |
| USD	SHIMAO PROPERTY HOLDINGS LTD-REG-S 5.60000% 19-15.07.26 | 1 250 000.00 | 1 360 156.25 | 0.05 |
| USD	SHIMAO PROPERTY HOLDINGS LTD-REG-S 4.60000% 20-13.07.30 | 9 725 000.00 | 10 405 750.00 | 0.38 |
| USD	SHUI ON DEVELOPMENT HOLDING LTD-REG-S 6.25000% 19-28.11.21 | 796 000.00 | 808 935.00 | 0.03 |
| USD	SHUI ON DEVELOPMENT HOLDING LTD-REG-S 6.15000% 20-24.08.24 | 44 925 000.00 | 45 205 781.25 | 1.66 |
| USD	SRI LANKA, DEMOCRATIC REP OF-REG-S 5.87500% 12-25.07.22 | 2 000 000.00 | 1 458 125.00 | 0.05 |
| USD	SRI LANKA, DEMOCRATIC REP OF-REG-S 6.20000% 17-11.05.27 | 23 705 000.00 | 13 963 726.56 | 0.51 |
| USD	SRI LANKA, DEMOCRATIC REP OF-REG-S 6.75000% 18-18.04.28 | 10 000 000.00 | 5 887 500.00 | 0.22 |
| USD	SRI LANKA, DEMOCRATIC REP OF-REG-S 6.85000% 19-14.03.24 | 2 425 000.00 | 1 548 968.75 | 0.06 |
| USD	SRI LANKA, DEMOCRATIC REP OF-REG-S 7.55000% 19-28.03.30 | 47 000 000.00 | 27 500 170.00 | 1.01 |
| USD	SRILANKAN AIRLINES LTD-REG-S 7.00000% 19-25.06.24 | 3 150 000.00 | 1 760 062.50 | 0.06 |

UBS (Lux) Bond SICAV – Asian High Yield (USD) Semi-Annual Report as of 30 November 2020
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | STAR ENERGY GEOTHERMAL WAYANG-REG-S 6.75000% 18-24.04.33 | 7 500 000.00 | 7 589 039.06 | 0.28 |
| USD | STUDIO CITY FINANCE LTD-REG-S 7.25000% 19-11.02.24 | 14 249 000.00 | 14 846 318.08 | 0.55 |
| USD | STUDIO CITY FINANCE LTD-REG-S 6.50000% 20-15.01.28 | 16 475 000.00 | 17 367 780.25 | 0.64 |
| USD | SUNAC CHINA HOLDINGS LTD-REG-S 8.35000% 18-19.04.23 | 12 000 000.00 | 12 551 250.00 | 0.46 |
| USD | SUNAC CHINA HOLDINGS LTD-REG-S 6.50000% 20-09.07.23 | 2 000 000.00 | 2 005 000.00 | 0.07 |
| USD | SUNAC CHINA HOLDINGS LTD-REG-S 7.00000% 20-09.07.25 | 21 625 000.00 | 21 625 000.00 | 0.79 |
| USD | SUNAC CHINA HOLDINGS LTD-REG-S 6.65000% 20-03.08.24 | 16 700 000.00 | 16 720 875.00 | 0.61 |
| USD | THETA CAPITAL PTE LTD-REG-S 6.75000% 16-31.10.26 | 10 920 000.00 | 9 913 312.50 | 0.36 |
| USD | VEDANTA RESOURCES PLC-REG-S 6.37500% 17-30.07.22 | 9 200 000.00 | 6 992 000.00 | 0.26 |
| USD | VEDANTA RESOURCES PLC-REG-S 6.12500% 17-09.08.24 | 36 500 000.00 | 22 036 875.00 | 0.81 |
| USD | VIRGIN AUSTRALIA HOLD-REG-S *DEFAULTED* 8.12500% 19-15.11.24 | 11 000 000.00 | 673 750.00 | 0.02 |
| USD | WYNN MACAU LTD-REG-S 4.87500% 17-01.10.24 | 3 750 000.00 | 3 756 037.50 | 0.14 |
| USD | WYNN MACAU LTD-REG-S 5.50000% 17-01.10.27 | 4 000 000.00 | 4 030 000.00 | 0.15 |
| USD | WYNN MACAU LTD-REG-S 5.12500% 19-15.12.29 | 2 000 000.00 | 2 011 333.40 | 0.07 |
| USD | WYNN MACAU LTD-REG-S 5.50000% 20-15.01.26 | 25 350 000.00 | 25 631 892.00 | 0.94 |
| USD | YANGO JUSTICE INTERNATIONAL LTD-REG-S 8.25000% 20-25.11.23 | 12 600 000.00 | 13 017 375.00 | 0.48 |
| USD | YANGO JUSTICE INTERNATIONAL LTD-REG-S 7.50000% 20-15.04.24 | 11 925 000.00 | 12 044 250.00 | 0.44 |
| USD | YANGO JUSTICE INTERNATIONAL LTD-REG-S 7.50000% 20-17.02.25 | 3 575 000.00 | 3 592 875.00 | 0.13 |
| USD | YANLORD LAND HK CO LTD-REG-S 6.80000% 19-27.02.24 | 1 000 000.00 | 1 047 187.50 | 0.04 |
| USD | YUZHOU GROUP HOLDINGS CO LTD-REG-S 7.85000% 20-12.08.26 | 22 350 000.00 | 22 845 890.63 | 0.84 |
| USD | YUZHOU PROPERTIES CO LTD-REG-S 6.00000% 16-25.10.23 | 2 425 000.00 | 2 450 007.82 | 0.09 |
| USD | YUZHOU PROPERTIES CO LTD-REG-S 8.37500% 19-30.10.24 | 6 850 000.00 | 7 308 093.75 | 0.27 |
| USD | YUZHOU PROPERTIES CO LTD-REG-S 7.37500% 20-13.01.26 | 11 000 000.00 | 11 165 000.00 | 0.41 |
| USD | YUZHOU PROPERTIES CO LTD-REG-S 7.70000% 20-20.02.25 | 3 000 000.00 | 3 124 687.50 | 0.11 |
| USD | ZHENRO PROPERTIES GROUP LTD-REG-S 7.35000% 20-05.02.25 | 8 900 000.00 | 8 769 281.25 | 0.32 |
| Total USD |  |  | 1 020 418 667.39 | 37.47 |
| Total Notes, fixed rate |  | 1 023 383 718.97 | 37.58 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AXIATA SPV5 LABUAN LTD-REG-S 3.06400% 20-19.08.50 | 13 025 000.00 | 13 029 070.32 | 0.48 |
| USD	CENTRAL PLAZA DEVELOPMENT LTD-REG-S 3.85000% 20-14.07.25 | 10 000 000.00 | 9 659 375.00 | 0.35 |
| USD	FAR EAST HORIZON LTD-REG-S 3.37500% 20-18.02.25 | 5 000 000.00 | 4 984 375.00 | 0.18 |
| USD	GAJAH TUNGGAL TBK PT-REG-S 8.37500% 17-10.08.22 | 1 000 000.00 | 872 920.00 | 0.03 |
| USD	GLP CHINA HOLDINGS LTD-REG-S 4.97400% 19-26.02.24 | 16 383 000.00 | 17 417 176.87 | 0.64 |
| USD	GREENLAND GLOBAL INVESTMENT LTD-REG-S 5.25000% 18-12.02.21 | 750 000.00 | 742 680.00 | 0.03 |
| USD	HPCL MITTAL ENERGY LTD-REG-S 5.45000% 19-22.10.26 | 5 000 000.00 | 5 140 625.00 | 0.19 |
| USD	KWG GROUP HOLDINGS LTD-REG-S 7.40000% 19-05.03.24 | 15 000 000.00 | 15 900 000.00 | 0.58 |
| USD	KWG GROUP HOLDINGS LTD-REG-S 5.95000% 20-10.08.25 | 7 000 000.00 | 7 008 750.00 | 0.26 |
| USD	MUTHOOT FINANCE LTD-REG-S 6.12500% 19-31.10.22 | 7 000 000.00 | 7 312 812.50 | 0.27 |
| USD	MUTHOOT FINANCE LTD-REG-S 4.40000% 20-02.09.23 | 30 000 000.00 | 30 431 250.00 | 1.12 |
| USD	NWD MTN LTD-REG-S 4.50000% 20-19.05.30 | 27 760 000.00 | 29 460 855.20 | 1.08 |
| USD	REDCO PROPERTIES GROUP LTD-REG-S 9.90000% 20-17.02.24 | 12 825 000.00 | 12 431 785.50 | 0.46 |
| USD	SAN MIGUEL CORP-REG-S 4.87500% 13-26.04.23 | 1 300 000.00 | 1 307 592.00 | 0.05 |
| USD	SHRIRAM TRANSPORT FINANCE CO LTD-REG-S 5.95000% 19-24.10.22 | 5 000 000.00 | 5 126 562.50 | 0.19 |
| USD	SHRIRAM TRANSPORT FINANCE CO LTD-REG-S 5.10000% 20-16.07.23 | 29 500 000.00 | 30 053 125.00 | 1.10 |
| USD	THAIOIL TREASURY CENTER CO LTD-REG-S 3.75000% 20-18.06.50 | 9 200 000.00 | 9 270 196.00 | 0.34 |
| USD	YES BANK IFSC BANKING UNIT BR-REG-S 3.75000% 18-06.02.23 | 27 232 000.00 | 26 917 130.01 | 0.99 |
| Total USD |  | 227 066 280.90 | 8.34 |
| Total Medium term notes, fixed rate |  | 227 066 280.90 | 8.34 |
| Medium term notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BANGKOK BANK PCL/HONG KONG-REG-S-SUB 3.733%/VAR 19-25.09.34 | 2 150 000.00 | 2 187 625.00 | 0.08 |
| USD	BANGKOK BANK PCL/HONG KONG-REG-S-SUB 5.000%/VAR 20-PRP | 46 525 000.00 | 47 222 875.00 | 1.74 |
| USD	BANK OF EAST ASIA LTD-REG-S-SUB 5.825%/VAR 20-PRP | 32 850 000.00 | 34 081 875.00 | 1.25 |
| USD	CITIC BANK INTERNATIONAL LTD-REG-S-SUB 4.250%/VAR 16-PRP | 500 000.00 | 501 250.00 | 0.02 |
| USD	KASIKORNBANK PCL-REG-S-SUB 5.275%/VAR 20-PRP | 46 750 000.00 | 47 159 062.50 | 1.73 |
| USD	KASIKORNBANK PCL/HONG KONG-REG-S-SUB 3.343%/VAR 19-02.10.31 | 24 876 000.00 | 25 054 796.25 | 0.92 |
| USD	OLAM INTERNATIONAL LTD-REG-S-SUB 5.350%/VAR 16-PRP | 350 000.00 | 350 109.37 | 0.01 |
| USD	WOORI BANK-REG-S-SUB 5.250%/VAR 17-PRP | 1 125 000.00 | 1 168 593.75 | 0.04 |
| Total USD |  | 157 726 186.87 | 5.79 |
| Total Medium term notes, floating rate |  | 157 726 186.87 | 5.79 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	ABJA INVESTMENT CO PTE LTD-REG-S 5.95000% 14-31.07.24 | 24 700 000.00 | 26 344 093.75 | 0.97 |
| USD	ADANI GREEN ENERGY UP LTD-REG-S 6.25000% 19-10.12.24 | 2 000 000.00 | 2 198 125.00 | 0.08 |
| USD	AGILE GROUP HOLDINGS LTD-REG-S 6.05000% 20-13.10.25 | 16 500 000.00 | 16 592 812.50 | 0.61 |
| USD	ALAM SUTERA REALTY TBK PT (PAY IN KIND) STEP UP 20-02.05.24 | 6 875 000.00 | 5 087 500.00 | 0.19 |
| USD	ALAM SUTERA REALTY TBK PT (PAY IN KIND) STEP UP 20-02.11.25 | 20 625 000.00 | 14 643 750.00 | 0.54 |
| USD	BANK TABUNGAN NEGARA PERSERO-REG-S-SUB 4.20000% 20-23.01.25 | 2 250 000.00 | 2 273 906.25 | 0.08 |
| USD	CENTRAL CHINA REAL ESTATE-REG-S 6.75000% 16-08.11.21 | 8 775 000.00 | 8 834 494.50 | 0.32 |
| USD	CENTRAL CHINA REAL ESTATE-REG-S 6.50000% 18-05.03.21 | 6 300 000.00 | 6 311 403.00 | 0.23 |
| USD	CFLD CAYMAN INVESTMENT LTD-REG-S 8.05000% 20-13.01.25 | 60 000 000.00 | 49 781 250.00 | 1.83 |
| USD	CHINA AOYUAN PROPERTY GROUP LTD-REG-S 5.37500% 17-13.09.22 | 6 875 000.00 | 6 906 625.00 | 0.25 |
| USD	CHINA AOYUAN PROPERTY GROUP LTD-REG-S 8.50000% 19-23.01.22 | 8 000 000.00 | 8 190 000.00 | 0.30 |
| USD	CHINA EVERGRANDE GROUP-REG-S 8.25000% 17-23.03.22 | 34 250 000.00 | 30 846 406.25 | 1.13 |
| USD	CHINA EVERGRANDE GROUP-REG-S 7.50000% 17-28.06.23 | 8 731 000.00 | 6 990 256.87 | 0.26 |
| USD	CHINA EVERGRANDE GROUP-REG-S 8.75000% 17-28.06.25 | 14 400 000.00 | 11 101 500.00 | 0.41 |
| USD	CHINA GRAND AUTOMOTIVE SERV LTD-REG-S 8.62500% 19-08.04.22 | 1 249 000.00 | 1 135 028.75 | 0.04 |
| USD	CHINA OIL & GAS GROUP LTD-REG-S 4.62500% 17-20.04.22 | 200 000.00 | 200 818.00 | 0.01 |
| USD	CHINA SCE GROUP HOLDINGS LTD-REG-S 7.00000% 20-02.05.25 | 14 875 000.00 | 15 098 125.00 | 0.55 |
| USD	CHINA SCE PROPERTY HOLDINGS LTD-REG-S 5.87500% 17-10.03.22 | 10 453 000.00 | 10 547 181.53 | 0.39 |
| USD	CIFI HOLDINGS GROUP CO LTD-REG-S 5.25000% 20-13.05.26 | 10 000 000.00 | 10 150 000.00 | 0.37 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 5.12500% 20-14.01.27 | 7 550 000.00 | 8 078 500.00 | 0.30 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 5.40000% 20-27.05.25 | 6 650 000.00 | 7 154 984.38 | 0.26 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 4.80000% 20-06.08.30 | 13 975 000.00 | 14 883 375.00 | 0.55 |
| USD	DEVELOPMENT BANK OF MONGOLIA LLC-REG-S 7.25000% 18-23.10.23 | 900 000.00 | 961 593.75 | 0.03 |
| USD	EASY TACTIC LTD-REG-S 5.87500% 17-13.02.23 | 24 525 000.00 | 21 298 491.00 | 0.78 |

UBS (Lux) Bond SICAV – Asian High Yield (USD) Semi-Annual Report as of 30 November 2020
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  |  | Nominal | Unrealized gain | of net |
|  |  |  | (loss) on Futures/ | assets |
|  |  |  | Forward |  |
|  |  |  | Exchange Contracts/ |  |
|  |  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | EASY TACTIC LTD-REG-S 7.00000% 18-25.04.21 | 3 000 000.00 | 2 963 040.00 | 0.11 |
| USD | EASY TACTIC LTD-REG-S 8.87500% 18-27.09.21 | 3 000 000.00 | 2 955 000.00 | 0.11 |
| USD | EASY TACTIC LTD-REG-S 8.12500% 19-27.02.23 | 20 750 000.00 | 18 739 843.75 | 0.69 |
| USD | EASY TACTIC LTD-REG-S 8.62500% 19-27.02.24 | 4 600 000.00 | 4 032 187.50 | 0.15 |
| USD | EHI CAR SERVICES LTD-REG-S 5.87500% 17-14.08.22 | 1 500 000.00 | 1 322 812.50 | 0.05 |
| USD | FORTUNE STAR BVI LTD-REG-S 5.25000% 17-23.03.22 | 10 500 000.00 | 10 598 437.50 | 0.39 |
| USD | FORTUNE STAR BVI LTD-REG-S 5.37500% 17-05.12.20 | 2 194 000.00 | 2 191 498.84 | 0.08 |
| USD | FPC RESOURCES LTD-REG-S 4.37500% 20-11.09.27 | 23 775 000.00 | 24 607 125.00 | 0.90 |
| USD | FUFENG GROUP LTD-REG-S 5.87500% 18-28.08.21 | 9 500 000.00 | 9 651 557.30 | 0.35 |
| USD | GOLDEN WHEEL TIANDI HLDGS CO LTD-REG-S 12.95000% 20-14.03.22 | 5 000 000.00 | 4 900 000.00 | 0.18 |
| USD | GREENKO INVESTMENT CO-REG-S 4.87500% 16-16.08.23 | 7 717 000.00 | 7 825 520.32 | 0.29 |
| USD | GREENKO SOLAR MAURITIUS LTD-REG-S 5.55000% 19-29.01.25 | 5 000 000.00 | 5 150 000.00 | 0.19 |
| USD | GREENKO SOLAR MAURITIUS LTD-REG-S 5.95000% 19-29.07.26 | 10 000 000.00 | 10 687 500.00 | 0.39 |
| USD | HILONG HOLDING LTD-REG-S *DEFAULTED* 7.25000% 17-22.06.20 | 1 400 000.00 | 793 625.00 | 0.03 |
| USD | HPCL MITTAL ENERGY LTD-REG-S 5.25000% 17-28.04.27 | 3 350 000.00 | 3 449 453.13 | 0.13 |
| USD | JSW STEEL LTD-REG-S 5.25000% 17-13.04.22 | 1 000 000.00 | 1 024 375.00 | 0.04 |
| USD | JSW STEEL LTD-REG-S 5.95000% 19-18.04.24 | 6 290 000.00 | 6 639 881.25 | 0.24 |
| USD | KAISA GROUP HOLDINGS LTD-REG-S 8.50000% 17-30.06.22 | 5 000 000.00 | 5 020 312.50 | 0.18 |
| USD | KAISA GROUP HOLDINGS LTD-REG-S 9.37500% 17-30.06.24 | 14 000 000.00 | 13 479 375.00 | 0.49 |
| USD | KWG GROUP HOLDINGS LTD-REG-S 5.87500% 17-10.11.24 | 3 300 000.00 | 3 358 781.25 | 0.12 |
| USD | KWG PROPERTY HOLDING LTD-REG-S 7.40000% 20-13.01.27 | 10 000 000.00 | 10 259 375.00 | 0.38 |
| USD | LAI FUNG BONDS-REG-S 5.65000% 18-18.01.23 | 3 830 000.00 | 3 561 900.58 | 0.13 |
| USD | LODHA DEVELOPERS INTL LTD-REG-S 14.00000% 20-12.03.23 | 11 000 000.00 | 10 560 000.00 | 0.39 |
| USD | LS FINANCE 2025 LTD-REG-S 4.50000% 15-26.06.25 | 750 000.00 | 720 072.97 | 0.03 |
| USD | MARBLE II PTE LTD-REG-S 5.30000% 17-20.06.22 | 500 000.00 | 502 187.50 | 0.02 |
| USD | MELCO RESORTS FINANCE LTD-REG-S 5.25000% 19-26.04.26 | 1 000 000.00 | 1 034 740.00 | 0.04 |
| USD | MODERNLA OVE PTE LTD-REG-S *DEFAULTED* 6.95000% 17-13.04.24 | 19 625 000.00 | 8 690 195.31 | 0.32 |
| USD | NWD FINANCE BVI LTD-REG-S 5.75000% 16-PRP | 1 000 000.00 | 1 005 005.20 | 0.04 |
| USD | NWD MTN LTD-REG-S 4.12500% 19-18.07.29 | 14 500 000.00 | 15 021 740.44 | 0.55 |
| USD | PB INTERNATIONAL BV-REG-S 7.62500% 17-26.01.22 | 500 000.00 | 324 218.75 | 0.01 |
| USD | PRIME BLOOM HOLDINGS LTD-REG-S 6.95000% 17-05.07.22 | 840 000.00 | 154 350.00 | 0.01 |
| USD | PROVEN HONOUR CAPITAL LTD-REG-S 4.12500% 16-06.05.26 | 34 000 000.00 | 35 700 000.00 | 1.31 |
| USD | RENEW POWER PVT LTD-REG-S 5.87500% 20-05.03.27 | 4 450 000.00 | 4 650 250.00 | 0.17 |
| USD | RENEW POWER SYNTHETIC-REG-S 6.67000% 19-12.03.24 | 12 000 000.00 | 12 675 000.00 | 0.46 |
| USD | RKPF OVERSEAS 2019 A LTD-REG-S 6.00000% 20-04.09.25 | 22 500 000.00 | 22 668 750.00 | 0.83 |
| USD | ROYAL CAPITAL BV-REG-S 5.87500% 18-PRP | 2 835 000.00 | 2 867 779.68 | 0.10 |
| USD | SCENERY JOURNEY LTD-REG-S 13.75000% 18-06.11.23 | 5 000 000.00 | 4 500 000.00 | 0.16 |
| USD | SEAZEN GROUP LTD-REG-S 6.00000% 20-12.08.24 | 11 275 000.00 | 11 500 500.00 | 0.42 |
| USD | SHIMAO PROPERTY HOLDINGS LTD-REG-S 4.75000% 17-03.07.22 | 1 000 000.00 | 1 021 250.00 | 0.04 |
| USD | STAR ENERGY GEOTHERMAL DARAJAT II-REG-S 4.85000% 20-14.10.38 | 21 475 000.00 | 23 360 773.43 | 0.86 |
| USD | SUNAC CHINA HOLDINGS LTD-REG-S 7.95000% 19-11.10.23 | 6 600 000.00 | 6 849 562.50 | 0.25 |
| USD | SUNAC CHINA HOLDINGS LTD-REG-S 6.50000% 20-10.01.25 | 5 500 000.00 | 5 417 500.00 | 0.20 |
| USD | THETA CAPITAL PTE LTD-REG-S 8.12500% 20-22.01.25 | 9 000 000.00 | 8 870 625.00 | 0.33 |
| USD | TIMES CHINA HOLDINGS LTD-REG-S 7.85000% 18-04.06.21 | 12 469 000.00 | 12 595 560.35 | 0.46 |
| USD | TIMES CHINA HOLDINGS LTD-REG-S 7.62500% 19-21.02.22 | 12 000 000.00 | 12 195 000.00 | 0.45 |
| USD | TSINGHUA UNIC LTD-REG-S 4.75000% 18-31.01.21 | 6 000 000.00 | 1 939 687.80 | 0.07 |
| USD | TSINGHUA UNIC LTD-REG-S 5.37500% 18-31.01.23 | 7 475 000.00 | 1 719 250.00 | 0.06 |
| USD | UPL CORP LTD-REG-S 4.62500% 20-16.06.30 | 29 250 000.00 | 31 251 796.87 | 1.15 |
| USD | VEDANTA RESOURCES FINANCE II PLC-REG-S 9.25000% 19-23.04.26 | 2 000 000.00 | 1 305 000.00 | 0.05 |
| USD | VEDANTA RESOURCES FINANCE II PLC-REG-S 8.00000% 19-23.04.23 | 13 365 000.00 | 9 021 375.00 | 0.33 |
| USD | WANDA PROPERTIES INTERNATIONAL-REG-S 7.25000% 14-19.01.24 | 7 500 000.00 | 7 425 000.00 | 0.27 |
| USD | WANDA PROPERTIES OVERSEAS LTD-REG-S 6.95000% 19-05.12.22 | 4 000 000.00 | 4 010 000.00 | 0.15 |
| USD | WANDA PROPERTIES OVERSEAS LTD-REG-S 6.87500% 20-23.07.23 | 3 000 000.00 | 2 970 000.00 | 0.11 |
| USD | WEALTH DRIVEN LTD-REG-S 5.50000% 16-17.08.23 | 5 850 000.00 | 5 941 406.25 | 0.22 |
| USD | YANLORD LAND HK CO LTD-REG-S 6.75000% 18-23.04.23 | 16 000 000.00 | 16 610 000.00 | 0.61 |
| USD | YUZHOU PROPERTIES CO LTD-REG-S 8.50000% 19-04.02.23 | 1 000 000.00 | 1 067 187.50 | 0.04 |
| USD | YUZHOU PROPERTIES CO LTD-REG-S 8.50000% 19-26.02.24 | 4 000 000.00 | 4 263 750.00 | 0.16 |
| USD | YUZHOU PROPERTIES CO LTD-REG-S 8.30000% 19-27.05.25 | 2 525 000.00 | 2 663 875.00 | 0.10 |
| USD | ZOOMLION HK SPV CO LTD-REG-S 6.12500% 12-20.12.22 | 1 250 000.00 | 1 301 137.50 | 0.05 |
| Total USD |  |  | 733 196 349.00 | 26.92 |
| Total Bonds, fixed rate |  | 733 196 349.00 | 26.92 |
| Bonds, floating rate |  |  |  |
| USD |  |  |  |
| USD	BANK OF EAST ASIA LTD/THE-REG-S-SUB 5.625%/VAR 17-PRP | 2 470 000.00 | 2 507 050.00 | 0.09 |
| USD	BANK OF EAST ASIA LTD/THE-REG-S-SUB 5.875%/VAR 19-PRP | 8 322 000.00 | 8 609 941.20 | 0.32 |
| USD	BAOXIN AUTO FINANCE I LTD-REG-S 5.625%/VAR 17-PRP | 2 900 000.00 | 2 219 406.25 | 0.08 |
| USD	CHALIECO HONG KONG CORP LTD-REG-S 5.000%/VAR 19-PRP | 1 575 000.00 | 1 594 195.31 | 0.06 |
| USD	CHINA MINMETALS CORP-REG-S 3.750%/VAR 17-PRP | 500 000.00 | 506 093.75 | 0.02 |
| USD	ESTATE SKY LTD-REG-S 5.750%/VAR 17-PRP | 1 900 000.00 | 1 710 000.00 | 0.06 |
| USD	FRANSHION BRILLIANT LTD-REG-S-SUB 5.750%/VAR 17-PRP | 2 550 000.00 | 2 402 578.13 | 0.09 |
| USD	FRANSHION BRILLIANT LTD-REG-S-SUB 4.875%/VAR 17-PRP | 2 000 000.00 | 1 669 375.00 | 0.06 |
| USD	KING TALENT MANAGEMENT LTD-REG-S-SUB 5.600%/VAR 17-PRP | 7 290 000.00 | 6 324 075.00 | 0.23 |
| USD	NETWORK I2I LTD-REG-S-SUB 5.650%/VAR 19-PRP | 27 375 000.00 | 28 606 875.00 | 1.05 |
| USD	NWD FINANCE BVI LTD-REG-S 5.250%/VAR 20-PRP | 11 625 000.00 | 12 179 835.68 | 0.45 |
| USD	PETRON CORP-REG-S 4.600%/VAR 18-PRP | 8 190 000.00 | 7 754 906.25 | 0.28 |
| USD	POSTAL SAVINGS BANK OF CHINA-REG-S-SUB 4.500%/VAR 17-PRP | 20 725 000.00 | 21 217 218.75 | 0.78 |
| USD	ROYAL CAPITAL BV-REG-S 4.875%/VAR 16-PRP | 7 000 000.00 | 7 067 830.00 | 0.26 |
| USD	SHUI ON DEVELOPMENT HOLDING LTD-REG-S 6.400%/VAR 17-PRP | 5 500 000.00 | 5 410 625.00 | 0.20 |
| USD	SINO OCEAN LAND TREASURE-REG-S-SUB 4.900%/VAR 17-PRP | 9 417 000.00 | 7 857 309.37 | 0.29 |
| USD	SMC GLOBAL POWER HOLDINGS CORP-REG-S-SUB 6.750%/VAR 15-PRP | 8 350 000.00 | 8 369 288.50 | 0.31 |
| USD	SMC GLOBAL POWER HOLDINGS CORP-REG-S 6.500%/VAR 19-PRP | 3 500 000.00 | 3 531 718.75 | 0.13 |
| USD	SMC GLOBAL POWER HOLDINGS CORP-REG-S 5.700%/VAR 20-PRP | 3 325 000.00 | 3 259 539.06 | 0.12 |
| USD	SMC GLOBAL POWER HOLDINGS CORP-REG-S 7.000%/VAR 20-PRP | 21 900 000.00 | 22 474 875.00 | 0.82 |
| Total USD |  | 155 272 736.00 | 5.70 |
| Total Bonds, floating rate |  | 155 272 736.00 | 5.70 |

UBS (Lux) Bond SICAV – Asian High Yield (USD) Semi-Annual Report as of 30 November 2020
| Description	Quantity/ | Valuation in USD | as a % |
| --- | --- | --- |
| Nominal | Unrealized gain | of net |
|  | (loss) on Futures/ | assets |
|  | Forward |  |
|  | Exchange Contracts/ |  |
|  | Swaps (Note 1) |  |

Convertible bonds, floating rate
USD
| USD | BANK OF CHINA LTD-REG-S-SUB 3.600%/VAR 20-PRP | 15 000 000.00 | 15 070 312.50 | 0.56 |
| --- | --- | --- | --- | --- |
| Total USD | 15 070 312.50 | 0.56 |
| Total Convertible bonds, floating rate |  | 15 070 312.50 | 0.56 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 2 311 715 584.24 | 84.89 |
| Total investments in securities |  | 2 311 715 584.24 | 84.89 |
| Derivative instruments |  |  |  |
| Derivative instruments listed on an official stock exchange |  |  |  |
| Financial Futures on bonds |  |  |  |
|  |  |  |  |
| USD	US ULTRA LONG BOND (CBT) FUTURE 22.03.21 | 64.00 | 146 499.97 | 0.00 |
| USD	US 10YR TREASURY NOTE FUTURE 22.03.21 | 1 000.00 | 437 500.00 | 0.02 |
| Total Financial Futures on bonds |  | 583 999.97 | 0.02 |
| Total Derivative instruments listed on an official stock exchange |  | 583 999.97 | 0.02 |
| Total Derivative instruments |  | 583 999.97 | 0.02 |
| Forward Foreign Exchange contracts |  |  |  |
| Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date |  |  |  |

| USD | 60 335 000.00 | KRW | 68 399 858 780.00 | 15.12.2020 | -1 404 756.93 | -0.05 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 60 525 944.83 | KRW | 68 741 131 320.00 | 15.12.2020 | -1 521 854.90 | -0.06 |
| INR | 483 470 000.00 | USD | 6 502 622.73 | 15.12.2020 | 24 378.21 | 0.00 |
| GBP | 29 951 300.00 | USD | 40 074 420.08 | 21.1.2021 | -60 282.70 | 0.00 |
| AUD | 5 599 700.00 | USD | 4 123 378.29 | 21.1.2021 | 4 776.42 | 0.00 |
| SEK | 123 690 700.00 | USD | 14 360 039.67 | 21.1.2021 | 123 467.95 | 0.00 |
| SGD | 114 181 400.00 | USD | 85 074 769.21 | 21.1.2021 | 158 129.05 | 0.01 |
| ZAR | 15 349 100.00 | USD | 993 415.57 | 21.1.2021 | -8 245.76 | 0.00 |
| CHF | 41 657 700.00 | USD | 45 782 471.80 | 21.1.2021 | 321 324.60 | 0.01 |
| EUR | 169 256 100.00 | USD | 201 489 570.20 | 21.1.2021 | 1 290 448.40 | 0.05 |
| SGD | 1 359 100.00 | USD | 1 013 934.42 | 21.1.2021 | 591.87 | 0.00 |
| ZAR | 251 600.00 | USD | 16 405.77 | 21.1.2021 | -257.02 | 0.00 |
| SGD | 1 384 400.00 | USD | 1 034 880.81 | 21.1.2021 | -1 468.85 | 0.00 |
| AUD | 247 000.00 | USD | 182 819.03 | 21.1.2021 | -728.17 | 0.00 |
| EUR | 1 922 000.00 | USD | 2 299 150.22 | 21.1.2021 | 3 533.09 | 0.00 |
| INR | 9 445 900 000.00 | USD | 127 051 528.64 | 15.12.2020 | 471 168.09 | 0.02 |
| USD | 63 711 172.81 | IDR | 952 290 900 000.00 | 15.12.2020 | -3 435 800.64 | -0.13 |
| USD | 2 769 502.48 | CNH | 19 040 000.00 | 15.12.2020 | -121 863.00 | 0.00 |
| INR | 599 260 000.00 | USD | 8 087 943.53 | 15.12.2020 | 2 259.76 | 0.00 |
| USD | 6 088 479.69 | IDR | 91 589 000 000.00 | 15.12.2020 | -369 551.31 | -0.01 |
| KRW | 81 445 866 600.00 | USD | 70 140 000.00 | 15.12.2020 | 3 375 473.52 | 0.12 |
| USD | 64 700 000.00 | INR | 4 762 696 400.00 | 15.12.2020 | 402 062.42 | 0.01 |
| KRW | 55 695 123 500.00 | USD | 48 575 000.00 | 15.12.2020 | 1 697 083.14 | 0.06 |
| Total Forward Foreign Exchange contracts | 949 887.24 | 0.03 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 348 779 886.30* | 12.81 |
| Other assets and liabilities | 61 089 428.21 | 2.25 |
| Total net assets | 2 723 118 785.96 | 100.00 |

* As at 30 November 2020, cash amounts serve as collateral for the counterparty Bank of America for an amount of USD 1 180 000.00, Citibank for an amount of USD 1 470 000.00 and JP Morgan for an amount of USD 3 177 000.00.
UBS (Lux) Bond SICAV – Asian High Yield (USD) Semi-Annual Report as of 30 November 2020

Translation (ENFR, 2020-11-30):
# UBS (Lux) Bond SICAV – Asian High Yield (USD)
| Données principales |  |
| --- | --- |
|  | ISIN | 30.11.2020 | 31.5.2020 | 31.5.2019 |
| Actif net en USD |  | 2 723 118 785.96 | 1 293 042 503.64 | 247 306 013.74 |
| Catégorie F-acc | LU0949706286 |  |  |  |
| Actions en circulation |  | 411 315.7110 | 334 219.4960 | 73 426.0000 |
| Valeur nette d’inventaire par action en USD |  | 172.93 | 160.00 | 160.00 |
| Prix d’émission et de rachat par action en USD 1 |  | 172.93 | 158.11 | 160.00 |
| Catégorie F-dist 2 | LU2073878949 |  |  |  |
| Actions en circulation |  | 420 000.0000 | 298 000.0000 | - |
| Valeur nette d’inventaire par action en USD |  | 101.65 | 96.92 | - |
| Prix d’émission et de rachat par action en USD 1 |  | 101.65 | 95.78 | - |
| Catégorie I-A1-acc | LU0871581103 |  |  |  |
| Actions en circulation |  | 772 880.3940 | 1 639 873.6450 | 2 359.6900 |
| Valeur nette d’inventaire par action en USD |  | 116.56 | 107.93 | 108.12 |
| Prix d’émission et de rachat par action en USD 1 |  | 116.56 | 106.66 | 108.12 |
| Catégorie (SEK hedged) I-A1-acc 3 | LU2191342232 |  |  |  |
| Actions en circulation |  | 175 218.0320 | - | - |
| Valeur nette d’inventaire par action en SEK |  | 733.52 | - | - |
| Prix d’émission et de rachat par action en SEK 1 |  | 733.52 | - | - |
| Catégorie I-A3-acc 4 | LU2177575094 |  |  |  |
| Actions en circulation |  | 2 087 490.9110 | - | - |
| Valeur nette d’inventaire par action en USD |  | 104.85 | - | - |
| Prix d’émission et de rachat par action en USD 1 |  | 104.85 | - | - |
| Catégorie (GBP hedged) I-A3-acc 5 | LU2177569360 |  |  |  |
| Actions en circulation |  | 80 938.2740 | - | - |
| Valeur nette d’inventaire par action en GBP |  | 105.03 | - | - |
| Prix d’émission et de rachat par action en GBP 1 |  | 105.03 | - | - |
| Catégorie (GBP hedged) I-A3-dist 5 | LU2181694816 |  |  |  |
| Actions en circulation |  | 160 096.1570 | - | - |
| Valeur nette d’inventaire par action en GBP |  | 105.02 | - | - |
| Prix d’émission et de rachat par action en GBP 1 |  | 105.02 | - | - |
| Catégorie I-B-acc | LU1739859327 |  |  |  |
| Actions en circulation |  | 693 913.6890 | 422 930.1780 | 85 789.3520 |
| Valeur nette d’inventaire par action en USD |  | 120.03 | 110.82 | 110.38 |
| Prix d’émission et de rachat par action en USD 1 |  | 120.03 | 109.51 | 110.38 |
| Catégorie (CHF hedged) I-B-acc 6 | LU2240824107 |  |  |  |
| Actions en circulation |  | 39 741.3470 | - | - |
| Valeur nette d’inventaire par action en CHF |  | 101.99 | - | - |
| Prix d’émission et de rachat par action en CHF 1 |  | 101.99 | - | - |
| Catégorie (EUR hedged) I-B-acc 7 | LU2198571015 |  |  |  |
| Actions en circulation |  | 93 377.8100 | - | - |
| Valeur nette d’inventaire par action en EUR |  | 104.37 | - | - |
| Prix d’émission et de rachat par action en EUR 1 |  | 104.37 | - | - |
| Catégorie (EUR hedged) I-B-dist 8 | LU2197080505 |  |  |  |
| Actions en circulation |  | 445 247.3310 | - | - |
| Valeur nette d’inventaire par action en EUR |  | 104.81 | - | - |
| Prix d’émission et de rachat par action en EUR 1 |  | 104.81 | - | - |
| Catégorie I-X-dist | LU0883523861 |  |  |  |
| Actions en circulation |  | 2 174 245.3000 | 1 378 211.2250 | 275 770.6660 |
| Valeur nette d’inventaire par action en USD |  | 99.76 | 97.75 | 103.28 |
| Prix d’émission et de rachat par action en USD 1 |  | 99.76 | 96.60 | 103.28 |
| Catégorie K-1-acc | LU0725271869 |  |  |  |
| Actions en circulation |  | 2.3000 | 2.4000 | 0.3000 |
| Valeur nette d’inventaire par action en USD |  | 8 439 592.89 | 7 824 748.28 | 7 858 814.83 |
| Prix d’émission et de rachat par action en USD 1 |  | 8 439 592.89 | 7 732 416.25 | 7 858 814.83 |
| Catégorie K-1-mdist 9 | LU2179105015 |  |  |  |
| Actions en circulation |  | 4.6000 | - | - |
| Valeur nette d’inventaire par action en USD |  | 5 093 591.84 | - | - |
| Prix d’émission et de rachat par action en USD 1 |  | 5 093 591.84 | - | - |
| Catégorie K-B-mdist 10 | LU2204822782 |  |  |  |
| Actions en circulation |  | 145 359.9800 | - | - |
| Valeur nette d’inventaire par action en USD |  | 101.73 | - | - |
| Prix d’émission et de rachat par action en USD 1 |  | 101.73 | - | - |

UBS (Lux) Bond SICAV – Asian High Yield (USD) Rapport semestriel au 30 novembre 2020
|  | ISIN | 30.11.2020 | 31.5.2020 | 31.5.2019 |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Catégorie (EUR hedged) K-B-mdist 11 | LU2204822949 |  |  |  |
| Actions en circulation |  | 67 651.6710 | - | - |
| Valeur nette d’inventaire par action en EUR |  | 101.01 | - | - |
| Prix d’émission et de rachat par action en EUR 1 |  | 101.01 | - | - |
| Catégorie K-X-acc | LU1957417949 |  |  |  |
| Actions en circulation |  | 164 684.0390 | 188 260.5750 | 99 495.3510 |
| Valeur nette d’inventaire par action en USD |  | 109.73 | 101.28 | 100.80 |
| Prix d’émission et de rachat par action en USD 1 |  | 109.73 | 100.08 | 100.80 |
| Catégorie (EUR hedged) K-X-mdist 12 | LU1957417865 |  |  |  |
| Actions en circulation |  | - | 47 055.6450 | 23 500.0000 |
| Valeur nette d’inventaire par action en EUR |  | - | 91.41 | 99.70 |
| Prix d’émission et de rachat par action en EUR 1 |  | - | 90.33 | 99.70 |
| Catégorie P-acc | LU0626906662 |  |  |  |
| Actions en circulation |  | 1 742 539.2920 | 1 028 251.1590 | 148 003.3460 |
| Valeur nette d’inventaire par action en USD |  | 161.49 | 150.12 | 151.51 |
| Prix d’émission et de rachat par action en USD 1 |  | 161.49 | 148.35 | 151.51 |
| Catégorie (CHF hedged) P-acc | LU0626907470 |  |  |  |
| Actions en circulation |  | 86 571.2010 | 55 632.6460 | 40 833.4360 |
| Valeur nette d’inventaire par action en CHF |  | 139.07 | 130.06 | 135.40 |
| Prix d’émission et de rachat par action en CHF 1 |  | 139.07 | 128.53 | 135.40 |
| Catégorie (EUR hedged) P-acc | LU0626907397 |  |  |  |
| Actions en circulation |  | 387 431.9660 | 183 106.2150 | 95 846.6690 |
| Valeur nette d’inventaire par action en EUR |  | 144.12 | 134.66 | 139.50 |
| Prix d’émission et de rachat par action en EUR 1 |  | 144.12 | 133.07 | 139.50 |
| Catégorie P-dist | LU0725271786 |  |  |  |
| Actions en circulation |  | 214 736.7700 | 142 238.6460 | 66 041.4660 |
| Valeur nette d’inventaire par action en USD |  | 107.06 | 103.56 | 109.48 |
| Prix d’émission et de rachat par action en USD 1 |  | 107.06 | 102.34 | 109.48 |
| Catégorie P-mdist | LU0626906746 |  |  |  |
| Actions en circulation |  | 4 880 252.0020 | 2 298 110.2570 | 154 898.1270 |
| Valeur nette d’inventaire par action en USD |  | 91.03 | 87.46 | 94.13 |
| Prix d’émission et de rachat par action en USD 1 |  | 91.03 | 86.43 | 94.13 |
| Catégorie (AUD hedged) P-mdist 13 | LU2199720918 |  |  |  |
| Actions en circulation |  | 59 641.7410 | - | - |
| Valeur nette d’inventaire par action en AUD |  | 100.65 | - | - |
| Prix d’émission et de rachat par action en AUD 1 |  | 100.65 | - | - |
| Catégorie (HKD) P-mdist 14 | LU2184895089 |  |  |  |
| Actions en circulation |  | 138 959.8680 | - | - |
| Valeur nette d’inventaire par action en HKD |  | 999.55 | - | - |
| Prix d’émission et de rachat par action en HKD 1 |  | 999.55 | - | - |
| Catégorie (SGD hedged) P-mdist 15 | LU0626907124 |  |  |  |
| Actions en circulation |  | 985 781.9820 | 419 262.3710 | - |
| Valeur nette d’inventaire par action en SGD |  | 98.28 | 94.42 | - |
| Prix d’émission et de rachat par action en SGD 1 |  | 98.28 | 93.31 | - |
| Catégorie (ZAR hedged) P-mdist 16 | LU2185891624 |  |  |  |
| Actions en circulation |  | 16 256.6290 | - | - |
| Valeur nette d’inventaire par action en ZAR |  | 994.90 | - | - |
| Prix d’émission et de rachat par action en ZAR 1 |  | 994.90 | - | - |
| Catégorie Q-acc | LU1240770955 |  |  |  |
| Actions en circulation |  | 1 972 548.2720 | 622 481.3330 | 399 449.0500 |
| Valeur nette d’inventaire par action en USD |  | 136.44 | 126.45 | 126.85 |
| Prix d’émission et de rachat par action en USD 1 |  | 136.44 | 124.96 | 126.85 |
| Catégorie (CHF hedged) Q-acc | LU1240770799 |  |  |  |
| Actions en circulation |  | 218 268.0470 | 210 050.9440 | 185 396.4680 |
| Valeur nette d’inventaire par action en CHF |  | 122.97 | 114.65 | 118.67 |
| Prix d’émission et de rachat par action en CHF 1 |  | 122.97 | 113.30 | 118.67 |
| Catégorie (EUR hedged) Q-acc | LU1240770872 |  |  |  |
| Actions en circulation |  | 454 642.8240 | 294 268.2270 | 98 299.5150 |
| Valeur nette d’inventaire par action en EUR |  | 125.93 | 117.30 | 120.82 |
| Prix d’émission et de rachat par action en EUR 1 |  | 125.93 | 115.92 | 120.82 |
| Catégorie (GBP hedged) Q-acc 5 | LU2183825921 |  |  |  |
| Actions en circulation |  | 52 116.0500 | - | - |
| Valeur nette d’inventaire par action en GBP |  | 104.84 | - | - |
| Prix d’émission et de rachat par action en GBP 1 |  | 104.84 | - | - |
| Catégorie Q-dist | LU1240771094 |  |  |  |
| Actions en circulation |  | 440 969.5310 | 192 054.3410 | 46 753.3500 |
| Valeur nette d’inventaire par action en USD |  | 110.31 | 106.17 | 112.22 |
| Prix d’émission et de rachat par action en USD 1 |  | 110.31 | 104.92 | 112.22 |
| Catégorie Q-mdist | LU1240771177 |  |  |  |
| Actions en circulation |  | 2 655 908.6860 | 1 654 829.7440 | 21 772.1490 |
| Valeur nette d’inventaire par action en USD |  | 100.48 | 96.24 | 102.99 |
| Prix d’émission et de rachat par action en USD 1 |  | 100.48 | 95.10 | 102.99 |
| Catégorie (SGD hedged) Q-mdist 17 | LU2181965513 |  |  |  |
| Actions en circulation |  | 227 157.6960 | - | - |
| Valeur nette d’inventaire par action en SGD |  | 101.91 | - | - |
| Prix d’émission et de rachat par action en SGD 1 |  | 101.91 | - | - |

UBS (Lux) Bond SICAV – Asian High Yield (USD) Rapport semestriel au 30 novembre 2020
ISIN	30.11.2020	31.5.2020	31.5.2019
| Catégorie U-X-acc	LU0626906829 |  |
| --- | --- |
| Actions en circulation | 13 345.0000 | 4 824.0000 | 2 172.0000 |
| Valeur nette d’inventaire par action en USD | 12 265.17 | 11 317.92 | 11 259.59 |
| Prix d’émission et de rachat par action en USD 1 | 12 265.17 | 11 184.37 | 11 259.59 |
| 1  Voir note 1 2  Première VNI 14.11.2019 3  Première VNI 6.7.2020 4  Première VNI 10.6.2020 5  Première VNI 24.6.2020 6  Première VNI 13.10.2020 7  Première VNI 16.7.2020 8  Première VNI 30.6.2020 9  Première VNI 12.6.2020 10  Première VNI 31.7.2020 11  Première VNI 7.8.2020 12  La catégorie d’actions (EUR hedged) K-X-mdist était en circulation jusqu’au 12.8.2020 13  Première VNI 5.8.2020 14  Première VNI 17.8.2020 15  Première VNI 2.9.2019 16  Première VNI 22.9.2020 17  Première VNI 9.6.2020 |  |  |  |


## Structure du portefeuille-titres
Répartition géographique en % de l’actif net	
Chine	27.37
Iles Caïmans	12.46
Hong Kong	10.68
Inde	8.67
Îles Vierges britanniques	7.20
Philippines	2.49
Ile Maurice	2.40
Singapour	2.22
Thaïlande	2.07
Sri Lanka	1.91
Macao	1.90
Indonésie	1.86
Grande-Bretagne	1.45
Etats-Unis	0.98
Malaisie	0.48
Pays-Bas	0.42
Pakistan	0.12
Mongolie	0.09
Chili	0.06
Corée du Sud	0.04
Australie	0.02
Total	84.89
Répartition économique en % de l’actif net	
Immobilier	30.66
Etablissements financiers et sociétés de participation	19.12
Banques & instituts de crédit	8.63
Bâtiment et matériaux de construction	4.83
Distribution d’énergie & d’eau	4.09
Restauration et loisirs	3.16
Industrie minière, charbon et acier	2.35
Services divers	2.21
Gouvernements nationaux et centraux	2.02
Trafic et transport	1.28
Chimie	1.15
Emetteurs d’obligations sécurisées (Pfandbriefe) et
sociétés de refinancement	1.08
Télécommunications	1.05
Pétrole	1.01
Appareils et composants électriques	0.87
Machines et appareils	0.44
Biotechnologie	0.35
Commerce de détail, centres commerciaux	0.21
Electronique et semi-conducteurs	0.13
Métaux non ferreux	0.06
Tabac et boissons alcoolisées	0.05
Produits pharmaceutiques, cosmétiques & médicaux	0.04
Soins de santé & services sociaux	0.03
Pneus et caoutchouc	0.03
Industrie aéronautique et spatiale	0.02
Diverses sociétés commerciales	0.01
Textiles, habillement & maroquinerie	0.01
Total	84.89
UBS (Lux) Bond SICAV – Asian High Yield (USD) Rapport semestriel au 30 novembre 2020

## Etat des actifs nets
Actif	30.11.2020
USD
Portefeuille-titres, cours d’achat	2 314 662 499.90
Portefeuille-titres, plus-/(moins)-value non réalisée	2 946 915.66
Total du Portefeuille-titres (note 1)	2 311 715 584.24
Avoirs en banque, dépôts à vue et à terme	347 225 026.14*
Autres liquidités (marges)	1 554 860.16
Créances sur souscriptions	25 493 582.83
Intérêts à recevoir sur titres	41 126 208.05
Autres créances	142 508.08
Bénéfice non réalisé(e) sur contrats financiers à terme (note 1)	583 999.97
Total de l’Actif	2 728 791 656.71
Passif
Bénéfice non réalisé(e) sur contrats de change à terme (note 1)	949 887.24
Intérêts à payer sur crédit en compte courant	-53.87
Engagements sur achats de titres (note 1)	-17.75
Engagements sur rachats	-4 536 213.79
Provisions pour commission de gestion forfaitaire (note 2)	-883 230.63
Provisions pour taxe d’abonnement (note 3)	-158 896.05
Provisions pour autres commissions et frais (note 2)		-94 458.66		 Total des Provisions pour frais			-1 136 585.34
Total du Passif	-5 672 870.75
Actif net à la fin de la période	2 723 118 785.96

## Etat des opérations
Revenus	1.6.2020-30.11.2020
USD
Revenus d’intérêts sur liquidités	19 809.61
Intérêts sur titres	62 935 481.42
Revenus sur prêts de titres (note 12)	146 266.12
Total des Revenus	67 058 660.79
Charges
Autres revenus (note 4)	3 957 103.64
Commission de gestion forfaitaire (note 2)	-8 668 674.91
Taxe d’abonnement (note 3)	-436 719.78
Frais sur prêts de titres (note 12)	-58 506.45
Autres commissions et frais (note 2)	-93 100.13
Revenus/pertes net(te)s de placements	57 774 133.49
Total des Charges	-9 284 527.30
Charges d’intérêts sur liquidités et crédit en compte courant	-27 526.03
Bénéfices/(pertes) réalisé(e)s (note 1)
Bénéfice/(perte) réalisé(e) sur titres évalués à la valeur de marché hors options	10 809 410.23
Bénéfice/perte réalisé(e) sur contrats financiers à terme	3 945 866.29
Bénéfice/(perte) réalisé(e) sur contrats de change à terme	12 404 546.43
Total des Bénéfices/(pertes) réalisé(e)s	28 415 994.67
Bénéfice/(perte) net(te) réalisé(e) au cours de la période	86 190 128.16
Fluctuations de la plus-/(moins)-value non réalisée (note 1)
Bénéfice/(perte) de change réalisé(e)	1 256 171.72
Plus-/(moins)-value non réalisée sur titres évalués à la valeur de marché hors options	76 366 932.84
Plus-/(moins)-value non réalisée sur contrats financiers à terme	583 999.97
Total des Fluctuations de la plus-/(moins)-value non réalisée	75 505 591.38
Augmentation/(diminution) nette de l’actif net issue de l’activité	161 695 719.54
Plus-/(moins)-value non réalisée sur contrats de change à terme	-1 445 341.43
* Au 30 novembre 2020, des avoirs en banque ont été utilisés à titre de garanties, à hauteur de 1 180 000.00 USD en faveur de Bank of America, à hauteur de 1 470 000.00 USD en faveur de Citibank London et à hauteur de 3 177 000.00 USD en faveur de JP Morgan .
UBS (Lux) Bond SICAV – Asian High Yield (USD) Rapport semestriel au 30 novembre 2020
| Fluctuations de l’actif net |  |
| --- | --- |
|  | USD |
|  | 1.6.2020-30.11.2020 |
| Actif net au début de la période | 1 293 042 503.64 |
| Souscriptions | 1 854 847 621.38 |
| Rachats | 	-552 765 539.36	 |
| Total des Entrées/(sorties) de capitaux | 1 302 082 082.02 |
| Dividendes versés | -33 701 519.24 |
| Revenus/pertes net(te)s de placements | 57 774 133.49 |
| Total des Bénéfices/(pertes) réalisé(e)s | 28 415 994.67 |
| Total des Fluctuations de la plus-/(moins)-value non réalisée | 	75 505 591.38	 |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | 161 695 719.54 |
| Actif net à la fin de la période | 2 723 118 785.96 |
| Evolution des actions en circulation |  |
|  | 1.6.2020-30.11.2020 |
| Catégorie | F-acc |
| Nombre d’actions en circulation au début de la période | 334 219.4960 |
| Nombre d’actions émises | 112 136.8760 |
| Nombre d’actions rachetées | -35 040.6610 |
| Nombre d’actions en circulation à la fin de la période | 411 315.7110 |
| Catégorie | F-dist |
| Nombre d’actions en circulation au début de la période | 298 000.0000 |
| Nombre d’actions émises | 122 000.0000 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de la période | 420 000.0000 |
| Catégorie | I-A1-acc |
| Nombre d’actions en circulation au début de la période | 1 639 873.6450 |
| Nombre d’actions émises | 1 771 255.2850 |
| Nombre d’actions rachetées | -2 638 248.5360 |
| Nombre d’actions en circulation à la fin de la période | 772 880.3940 |
| Catégorie | (SEK hedged) I-A1-acc |
| Nombre d’actions en circulation au début de la période | 0.0000 |
| Nombre d’actions émises | 204 335.9050 |
| Nombre d’actions rachetées | -29 117.8730 |
| Nombre d’actions en circulation à la fin de la période | 175 218.0320 |
| Catégorie | I-A3-acc |
| Nombre d’actions en circulation au début de la période | 0.0000 |
| Nombre d’actions émises | 2 411 412.9220 |
| Nombre d’actions rachetées | -323 922.0110 |
| Nombre d’actions en circulation à la fin de la période | 2 087 490.9110 |
| Catégorie | (GBP hedged) I-A3-acc |
| Nombre d’actions en circulation au début de la période | 0.0000 |
| Nombre d’actions émises | 88 945.2560 |
| Nombre d’actions rachetées | -8 006.9820 |
| Nombre d’actions en circulation à la fin de la période | 80 938.2740 |
| Catégorie | (GBP hedged) I-A3-dist |
| Nombre d’actions en circulation au début de la période | 0.0000 |
| Nombre d’actions émises | 167 680.6510 |
| Nombre d’actions rachetées | -7 584.4940 |
| Nombre d’actions en circulation à la fin de la période | 160 096.1570 |
| Catégorie | I-B-acc |
| Nombre d’actions en circulation au début de la période | 422 930.1780 |
| Nombre d’actions émises | 284 257.5110 |
| Nombre d’actions rachetées | -13 274.0000 |
| Nombre d’actions en circulation à la fin de la période | 693 913.6890 |
| Catégorie | (CHF hedged) I-B-acc |
| Nombre d’actions en circulation au début de la période | 0.0000 |
| Nombre d’actions émises | 39 741.3470 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de la période | 39 741.3470 |
| Catégorie | (EUR hedged) I-B-acc |
| Nombre d’actions en circulation au début de la période | 0.0000 |
| Nombre d’actions émises | 93 377.8100 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de la période | 93 377.8100 |
| Catégorie | (EUR hedged) I-B-dist |
| Nombre d’actions en circulation au début de la période | 0.0000 |
| Nombre d’actions émises | 449 146.7270 |
| Nombre d’actions rachetées | -3 899.3960 |
| Nombre d’actions en circulation à la fin de la période | 445 247.3310 |
| Catégorie | I-X-dist |
| Nombre d’actions en circulation au début de la période | 1 378 211.2250 |
| Nombre d’actions émises | 830 102.6460 |
| Nombre d’actions rachetées | -34 068.5710 |
| Nombre d’actions en circulation à la fin de la période | 2 174 245.3000 |

UBS (Lux) Bond SICAV – Asian High Yield (USD) Rapport semestriel au 30 novembre 2020
| Catégorie | K-1-acc |
| --- | --- |
| Nombre d’actions en circulation au début de la période | 2.4000 |
| Nombre d’actions émises | 0.7000 |
| Nombre d’actions rachetées | -0.8000 |
| Nombre d’actions en circulation à la fin de la période | 2.3000 |
| Catégorie | K-1-mdist |
| Nombre d’actions en circulation au début de la période | 0.0000 |
| Nombre d’actions émises | 4.6000 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de la période | 4.6000 |
| Catégorie | K-B-mdist |
| Nombre d’actions en circulation au début de la période | 0.0000 |
| Nombre d’actions émises | 145 359.9800 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de la période | 145 359.9800 |
| Catégorie | (EUR hedged) K-B-mdist |
| Nombre d’actions en circulation au début de la période | 0.0000 |
| Nombre d’actions émises | 67 651.6710 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de la période | 67 651.6710 |
| Catégorie | K-X-acc |
| Nombre d’actions en circulation au début de la période | 188 260.5750 |
| Nombre d’actions émises | 66 482.3630 |
| Nombre d’actions rachetées | -90 058.8990 |
| Nombre d’actions en circulation à la fin de la période | 164 684.0390 |
| Catégorie | (EUR hedged) K-X-mdist |
| Nombre d’actions en circulation au début de la période | 47 055.6450 |
| Nombre d’actions émises | 24 113.1710 |
| Nombre d’actions rachetées | -71 168.8160 |
| Nombre d’actions en circulation à la fin de la période | 0.0000 |
| Catégorie | P-acc |
| Nombre d’actions en circulation au début de la période | 1 028 251.1590 |
| Nombre d’actions émises | 876 140.5030 |
| Nombre d’actions rachetées | -161 852.3700 |
| Nombre d’actions en circulation à la fin de la période | 1 742 539.2920 |
| Catégorie | (CHF hedged) P-acc |
| Nombre d’actions en circulation au début de la période | 55 632.6460 |
| Nombre d’actions émises | 32 384.8430 |
| Nombre d’actions rachetées | -1 446.2880 |
| Nombre d’actions en circulation à la fin de la période | 86 571.2010 |
| Catégorie | (EUR hedged) P-acc |
| Nombre d’actions en circulation au début de la période | 183 106.2150 |
| Nombre d’actions émises | 243 297.0770 |
| Nombre d’actions rachetées | -38 971.3260 |
| Nombre d’actions en circulation à la fin de la période | 387 431.9660 |
| Catégorie | P-dist |
| Nombre d’actions en circulation au début de la période | 142 238.6460 |
| Nombre d’actions émises | 109 255.0500 |
| Nombre d’actions rachetées | -36 756.9260 |
| Nombre d’actions en circulation à la fin de la période | 214 736.7700 |
| Catégorie | P-mdist |
| Nombre d’actions en circulation au début de la période | 2 298 110.2570 |
| Nombre d’actions émises | 3 123 392.2090 |
| Nombre d’actions rachetées | -541 250.4640 |
| Nombre d’actions en circulation à la fin de la période | 4 880 252.0020 |
| Catégorie | (AUD hedged) P-mdist |
| Nombre d’actions en circulation au début de la période | 0.0000 |
| Nombre d’actions émises | 59 641.7410 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de la période | 59 641.7410 |
| Catégorie | (HKD) P-mdist |
| Nombre d’actions en circulation au début de la période | 0.0000 |
| Nombre d’actions émises | 139 308.1320 |
| Nombre d’actions rachetées | -348.2640 |
| Nombre d’actions en circulation à la fin de la période | 138 959.8680 |
| Catégorie | (SGD hedged) P-mdist |
| Nombre d’actions en circulation au début de la période | 419 262.3710 |
| Nombre d’actions émises | 640 025.5210 |
| Nombre d’actions rachetées | -73 505.9100 |
| Nombre d’actions en circulation à la fin de la période | 985 781.9820 |
| Catégorie | (ZAR hedged) P-mdist |
| Nombre d’actions en circulation au début de la période | 0.0000 |
| Nombre d’actions émises | 16 256.6290 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de la période | 16 256.6290 |
| Catégorie | Q-acc |
| Nombre d’actions en circulation au début de la période | 622 481.3330 |
| Nombre d’actions émises | 1 470 638.9270 |
| Nombre d’actions rachetées | -120 571.9880 |
| Nombre d’actions en circulation à la fin de la période | 1 972 548.2720 |

UBS (Lux) Bond SICAV – Asian High Yield (USD) Rapport semestriel au 30 novembre 2020
| Catégorie | (CHF hedged) Q-acc |
| --- | --- |
| Nombre d’actions en circulation au début de la période | 210 050.9440 |
| Nombre d’actions émises | 70 726.0310 |
| Nombre d’actions rachetées | -62 508.9280 |
| Nombre d’actions en circulation à la fin de la période | 218 268.0470 |
| Catégorie | (EUR hedged) Q-acc |
| Nombre d’actions en circulation au début de la période | 294 268.2270 |
| Nombre d’actions émises | 396 029.5030 |
| Nombre d’actions rachetées | -235 654.9060 |
| Nombre d’actions en circulation à la fin de la période | 454 642.8240 |
| Catégorie | (GBP hedged) Q-acc |
| Nombre d’actions en circulation au début de la période | 0.0000 |
| Nombre d’actions émises | 52 336.2060 |
| Nombre d’actions rachetées | -220.1560 |
| Nombre d’actions en circulation à la fin de la période | 52 116.0500 |
| Catégorie | Q-dist |
| Nombre d’actions en circulation au début de la période | 192 054.3410 |
| Nombre d’actions émises | 286 090.6710 |
| Nombre d’actions rachetées | -37 175.4810 |
| Nombre d’actions en circulation à la fin de la période | 440 969.5310 |
| Catégorie | Q-mdist |
| Nombre d’actions en circulation au début de la période | 1 654 829.7440 |
| Nombre d’actions émises | 1 077 957.0970 |
| Nombre d’actions rachetées | -76 878.1550 |
| Nombre d’actions en circulation à la fin de la période | 2 655 908.6860 |
| Catégorie | (SGD hedged) Q-mdist |
| Nombre d’actions en circulation au début de la période | 0.0000 |
| Nombre d’actions émises | 229 139.6600 |
| Nombre d’actions rachetées | -1 981.9640 |
| Nombre d’actions en circulation à la fin de la période | 227 157.6960 |
| Catégorie | U-X-acc |
| Nombre d’actions en circulation au début de la période | 4 824.0000 |
| Nombre d’actions émises | 10 880.0000 |
| Nombre d’actions rachetées | -2 359.0000 |
| Nombre d’actions en circulation à la fin de la période | 13 345.0000 |

| Distribution annuelle 1 |  |
| --- | --- |
| UBS (Lux) Bond SICAV – Asian High Yield (USD) | Date de détachement | Date de versement | Devise | Montant par action |
| F-dist | 3.8.2020 | 6.8.2020 | USD | 3.00 |
| I-X-dist | 3.8.2020 | 6.8.2020 | USD | 5.97 |
| P-dist | 3.8.2020 | 6.8.2020 | USD | 4.23 |
| Q-dist | 3.8.2020 | 6.8.2020 | USD | 4.13 |
| Distribution mensuelle 1 |  |  |  |  |
| UBS (Lux) Bond SICAV – Asian High Yield (USD) | Date de détachement | Date de versement | Devise | Montant par action |
| K-1-mdist | 15.7.2020 | 20.7.2020 | USD | 26 803.15 |
| K-1-mdist | 17.8.2020 | 20.8.2020 | USD | 26 538.33 |
| K-1-mdist | 15.9.2020 | 18.9.2020 | USD | 28 591.94 |
| K-1-mdist | 15.10.2020 | 20.10.2020 | USD | 28 003.49 |
| K-1-mdist | 16.11.2020 | 19.11.2020 | USD | 28 098.97 |
| K-B-mdist | 15.9.2020 | 18.9.2020 | USD | 0.57 |
| K-B-mdist | 15.10.2020 | 20.10.2020 | USD | 0.56 |
| K-B-mdist | 16.11.2020 | 19.11.2020 | USD | 0.56 |
| (EUR hedged) K-B-mdist | 15.9.2020 | 18.9.2020 | EUR | 0.49 |
| (EUR hedged) K-B-mdist | 15.10.2020 | 20.10.2020 | EUR | 0.49 |
| (EUR hedged) K-B-mdist | 16.11.2020 | 19.11.2020 | EUR | 0.49 |
| (EUR hedged) K-X-mdist | 15.6.2020 | 18.6.2020 | EUR | 0.53 |
| (EUR hedged) K-X-mdist | 15.7.2020 | 20.7.2020 | EUR | 0.50 |
| P-mdist | 15.6.2020 | 18.6.2020 | USD | 0.50 |
| P-mdist | 15.7.2020 | 20.7.2020 | USD | 0.48 |
| P-mdist | 17.8.2020 | 20.8.2020 | USD | 0.48 |
| P-mdist | 15.9.2020 | 18.9.2020 | USD | 0.51 |
| P-mdist | 15.10.2020 | 20.10.2020 | USD | 0.50 |
| P-mdist | 16.11.2020 | 19.11.2020 | USD | 0.50 |
| (AUD hedged) P-mdist | 15.9.2020 | 18.9.2020 | AUD | 0.56 |
| (AUD hedged) P-mdist | 15.10.2020 | 20.10.2020 | AUD | 0.54 |
| (AUD hedged) P-mdist | 16.11.2020 | 19.11.2020 | AUD | 0.54 |
| (HKD) P-mdist | 15.9.2020 | 18.9.2020 | HKD | 5.51 |
| (HKD) P-mdist | 15.10.2020 | 20.10.2020 | HKD | 5.40 |
| (HKD) P-mdist | 16.11.2020 | 19.11.2020 | HKD | 5.39 |
| (SGD hedged) P-mdist | 15.6.2020 | 18.6.2020 | SGD | 0.50 |
| (SGD hedged) P-mdist | 15.7.2020 | 20.7.2020 | SGD | 0.50 |
| (SGD hedged) P-mdist | 17.8.2020 | 20.8.2020 | SGD | 0.50 |
| (SGD hedged) P-mdist | 15.9.2020 | 18.9.2020 | SGD | 0.53 |
| (SGD hedged) P-mdist | 15.10.2020 | 20.10.2020 | SGD | 0.52 |
| 1  Voir note 5 |  |  |  |  |

UBS (Lux) Bond SICAV – Asian High Yield (USD) Rapport semestriel au 30 novembre 2020
| UBS (Lux) Bond SICAV |  |  |  |  |
| --- | --- | --- | --- | --- |
| – Asian High Yield (USD) | Date de détachement | Date de versement | Devise | Montant par action |
| (SGD hedged) P-mdist | 16.11.2020 | 19.11.2020 | SGD | 0.52 |
| (ZAR hedged) P-mdist | 15.10.2020 | 20.10.2020 | ZAR | 9.51 |
| (ZAR hedged) P-mdist | 16.11.2020 | 19.11.2020 | ZAR | 9.49 |
| Q-mdist | 15.6.2020 | 18.6.2020 | USD | 0.55 |
| Q-mdist | 15.7.2020 | 20.7.2020 | USD | 0.53 |
| Q-mdist | 17.8.2020 | 20.8.2020 | USD | 0.53 |
| Q-mdist | 15.9.2020 | 18.9.2020 | USD | 0.56 |
| Q-mdist | 15.10.2020 | 20.10.2020 | USD | 0.55 |
| Q-mdist | 16.11.2020 | 19.11.2020 | USD | 0.55 |
| (SGD hedged) Q-mdist | 15.7.2020 | 20.7.2020 | SGD | 0.52 |
| (SGD hedged) Q-mdist | 17.8.2020 | 20.8.2020 | SGD | 0.51 |
| (SGD hedged) Q-mdist | 15.9.2020 | 18.9.2020 | SGD | 0.55 |
| (SGD hedged) Q-mdist | 15.10.2020 | 20.10.2020 | SGD | 0.54 |
| (SGD hedged) Q-mdist | 16.11.2020 | 19.11.2020 | SGD | 0.54 |

UBS (Lux) Bond SICAV – Asian High Yield (USD) Rapport semestriel au 30 novembre 2020

## Etat du portefeuille-titres et autres actifs nets au 30 novembre 2020
| Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
| Titres et instruments du marché monétaire négociés sur une bourse officielle Billets, taux fixe |  |  |  |
| CNY |  |  |  |
| CNY	CIFI HOLDINGS GROUP CO LTD-REG-S 6.70000% 19-23.04.22 | 19 000 000.00 | 2 965 051.58 | 0.11 |
| Total CNY |  | 2 965 051.58 | 0.11 |
| USD |  |  |  |
| USD	ABJA INVESTMENT CO PTE LTD-REG-S 5.45000% 18-24.01.28 | 425 000.00 | 437 656.50 | 0.02 |
| USD	ADANI ELECTRICITY MUMBAI LTD-REG-S 3.94900% 20-12.02.30 | 8 825 000.00 | 9 244 187.50 | 0.34 |
| USD	ADANI PORTS AND SPECIAL ECO ZONE-REG-S 3.37500% 19-24.07.24 | 600 000.00 | 620 625.00 | 0.02 |
| USD	AGILE GROUP HOLDINGS LTD-REG-S 5.75000% 20-02.01.25 | 22 200 000.00 | 22 227 750.00 | 0.82 |
| USD	ANTON OILFIELD SERVICES GROUP-REG-S 7.50000% 19-02.12.22 | 2 700 000.00 | 1 946 700.00 | 0.07 |
| USD	APL REALTY HOLDINGS PTE LTD-REG-S 5.95000% 17-02.06.24 | 6 200 000.00 | 4 474 292.00 | 0.16 |
| USD	AZURE POWER ENERGY LTD-REG-S 5.50000% 17-03.11.22 | 13 900 000.00 | 14 308 312.50 | 0.53 |
| USD	BRIGHT SCHOLAR EDU HOLD LTD-REG-S 7.45000% 19-31.07.22 | 900 000.00 | 931 500.00 | 0.03 |
| USD	CENTRAL CHINA REAL ESTATE-REG-S 7.25000% 19-24.04.23 | 5 525 000.00 | 5 552 625.00 | 0.20 |
| USD	CENTRAL CHINA REAL ESTATE-REG-S 7.25000% 20-16.07.24 | 800 000.00 | 781 000.00 | 0.03 |
| USD	CENTRAL CHINA REAL ESTATE-REG-S 7.65000% 20-27.08.23 | 11 450 000.00 | 11 535 875.00 | 0.42 |
| USD	CHINA AOYUAN GROUP LTD-REG-S 7.95000% 19-19.02.23 | 5 000 000.00 | 5 262 500.00 | 0.19 |
| USD	CHINA AOYUAN GROUP LTD-REG-S 6.20000% 20-24.03.26 | 20 000 000.00 | 19 981 250.00 | 0.73 |
| USD	CHINA AOYUAN GROUP LTD-REG-S 5.98000% 20-18.08.25 | 4 000 000.00 | 4 012 400.00 | 0.15 |
| USD	CHINA EVERGRANDE GROUP-REG-S 9.50000% 19-11.04.22 | 3 000 000.00 | 2 727 187.49 | 0.10 |
| USD	CHINA EVERGRANDE GROUP-REG-S 10.00000% 19-11.04.23 | 5 000 000.00 | 4 260 937.50 | 0.16 |
| USD	CHINA EVERGRANDE GROUP-REG-S 10.50000% 19-11.04.24 | 4 000 000.00 | 3 305 000.00 | 0.12 |
| USD	CHINA EVERGRANDE GROUP-REG-S 12.00000% 20-22.01.24 | 7 000 000.00 | 6 118 437.50 | 0.22 |
| USD	CHINA SOUTH CITY HOLDINGS LTD-REG-S 7.25000% 17-20.11.22 | 2 000 000.00 | 1 801 250.00 | 0.07 |
| USD	CHINA SOUTH CITY HOLDINGS LTD-REG-S 11.50000% 19-12.02.22 | 3 600 000.00 | 3 577 500.00 | 0.13 |
| USD	CIFI HOLDINGS GROUP CO LTD-REG-S 6.00000% 20-16.07.25 | 2 700 000.00 | 2 827 406.25 | 0.10 |
| USD	CIFI HOLDINGS GROUP CO LTD-REG-S 5.95000% 20-20.10.25 | 8 000 000.00 | 8 390 000.00 | 0.31 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 7.25000% 19-08.04.26 | 5 000 000.00 | 5 584 375.00 | 0.21 |
| USD	EASY TACTIC LTD-REG-S 5.75000% 17-13.01.22 | 2 500 000.00 | 2 349 218.75 | 0.09 |
| USD	EASY TACTIC LTD-REG-S 8.12500% 19-11.07.24 | 1 775 000.00 | 1 513 742.18 | 0.06 |
| USD	EASY TACTIC LTD-REG-S 8.62500% 20-05.03.24 | 6 000 000.00 | 5 274 375.00 | 0.19 |
| USD	FANTASIA HOLDINGS GROUP CO LTD-REG-S 11.75000% 19-17.04.22 | 2 600 000.00 | 2 715 375.00 | 0.10 |
| USD	FANTASIA HOLDINGS GROUP CO LTD-REG-S 12.25000% 19-18.10.22 | 1 425 000.00 | 1 510 500.00 | 0.06 |
| USD	FANTASIA HOLDINGS GROUP CO LTD-REG-S 10.87500% 20-09.01.23 | 13 950 000.00 | 14 381 578.13 | 0.53 |
| USD	FANTASIA HOLDINGS GROUP CO LTD-REG-S 11.87500% 20-01.06.23 | 8 325 000.00 | 8 728 242.19 | 0.32 |
| USD	FANTASIA HOLDINGS GROUP CO LTD-REG-S 9.25000% 20-28.07.23 | 17 150 000.00 | 16 892 750.00 | 0.62 |
| USD	FORTUNE STAR BVI LTD-REG-S 6.85000% 20-02.07.24 | 18 575 000.00 | 19 503 750.00 | 0.72 |
| USD	FORTUNE STAR BVI LTD-REG-S 5.95000% 20-19.10.25 | 12 750 000.00 | 13 036 875.00 | 0.48 |
| USD	GOLDEN EAGLE RETAIL GROUP-REG-S 4.62500% 13-21.05.23 | 5 750 000.00 | 5 787 734.37 | 0.21 |
| USD	GREENKO DUTCH BV-REG-S 5.25000% 17-24.07.24 | 1 000 000.00 | 1 032 187.50 | 0.04 |
| USD	GREENKO MAURITIUS LTD-REG-S 6.25000% 19-21.02.23 | 18 575 000.00 | 19 225 125.00 | 0.71 |
| USD	GREENTOWN CHINA HOLDINGS LTD-REG-S 5.65000% 20-13.07.25 | 7 450 000.00 | 7 701 437.50 | 0.28 |
| USD	HEJUN SHUNZE INVESTMENT CO LTD-REG-S 9.00000% 20-04.03.21 | 5 000 000.00 | 4 993 750.00 | 0.18 |
| USD	HEJUN SHUNZE INVESTMENT CO LTD-REG-S 11.00000% 20-04.06.22 | 10 250 000.00 | 10 403 750.00 | 0.38 |
| USD	HILONG HOLDING LTD-REG-S *DEFAULTED* 8.25000% 19-26.09.22 | 2 500 000.00 | 1 405 859.50 | 0.05 |
| USD	INTERNATIONAL CONT TERM SERV-REG-S 4.75000% 20-17.06.30 | 19 750 000.00 | 21 181 875.00 | 0.78 |
| USD	JGSH PHILIPPINES LTD-REG-S 4.12500% 20-09.07.30 | 11 650 000.00 | 12 072 312.50 | 0.44 |
| USD	JINGRUI HOLDINGS LTD-REG-S 10.87500% 19-04.10.21 | 6 000 000.00 | 5 887 500.00 | 0.22 |
| USD	JINGRUI HOLDINGS LTD-REG-S 12.75000% 20-11.03.22 | 1 000 000.00 | 987 812.50 | 0.04 |
| USD	JINGRUI HOLDINGS LTD-REG-S 14.50000% 20-19.02.23 | 6 000 000.00 | 5 979 900.00 | 0.22 |
| USD	KAISA GROUP HOLDINGS LTD-REG-S 11.50000% 19-30.01.23 | 5 000 000.00 | 5 160 937.50 | 0.19 |
| USD	KAISA GROUP HOLDINGS LTD-REG-S 10.87500% 19-23.07.23 | 2 250 000.00 | 2 299 921.88 | 0.08 |
| USD	KAISA GROUP HOLDINGS LTD-REG-S 11.95000% 19-12.11.23 | 13 000 000.00 | 13 548 437.50 | 0.50 |
| USD	KAISA GROUP HOLDINGS LTD-REG-S 10.50000% 20-15.01.25 | 6 400 000.00 | 6 273 999.99 | 0.23 |
| USD	KAISA GROUP HOLDINGS LTD-REG-S 9.95000% 20-23.07.25 | 15 000 000.00 | 14 325 000.00 | 0.53 |
| USD	KAISA GROUP HOLDINGS LTD-REG-S 11.25000% 20-16.04.25 | 44 575 000.00 | 44 421 773.43 | 1.63 |
| USD	KWG GROUP HOLDINGS LTD-REG-S 6.30000% 20-13.02.26 | 34 650 000.00 | 34 606 687.50 | 1.27 |
| USD	LOGAN GROUP CO LTD-REG-S 5.25000% 20-19.10.25 | 4 000 000.00 | 4 075 000.00 | 0.15 |
| USD	LOGAN PROPERTY HOLDINGS CO LTD-REG-S 5.25000% 17-23.02.23 | 3 250 000.00 | 3 282 500.00 | 0.12 |
| USD	MEDCO OAK TREE PTE LTD-REG-S 7.37500% 19-14.05.26 | 5 000 000.00 | 5 253 125.00 | 0.19 |
| USD	MELCO RESORTS FINANCE LTD-REG-S 4.87500% 17-06.06.25 | 750 000.00 | 766 447.50 | 0.03 |
| USD	MELCO RESORTS FINANCE LTD-REG-S 5.62500% 19-17.07.27 | 5 000 000.00 | 5 200 000.00 | 0.19 |
| USD	MELCO RESORTS FINANCE LTD-REG-S 5.37500% 19-04.12.29 | 8 500 000.00 | 8 694 735.00 | 0.32 |
| USD	MELCO RESORTS FINANCE LTD-REG-S 5.75000% 20-21.07.28 | 15 000 000.00 | 15 772 200.00 | 0.58 |
| USD	MGM CHINA HOLDINGS LTD-REG-S 5.25000% 20-18.06.25 | 17 950 000.00 | 18 410 058.50 | 0.68 |
| USD	MONGOLIA,GOVERNMENT OF-REG-S 5.12500% 12-05.12.22 | 1 302 000.00 | 1 347 163.12 | 0.05 |
| USD	NEERG ENERGY LTD-REG-S 6.00000% 17-13.02.22 | 12 730 000.00 | 12 948 796.87 | 0.48 |
| USD	PAKISTAN, ISLAMIC REPUBLIC OF-REG-S 6.87500% 17-05.12.27 | 3 250 000.00 | 3 344 453.12 | 0.12 |
| USD	PERIAMA HOLDINGS LLC/DE-REG-S 5.95000% 20-19.04.26 | 25 275 000.00 | 26 728 312.50 | 0.98 |
| USD	POWERLONG REAL ESTATE HOLDINGS-REG-S 6.95000% 19-23.07.23 | 8 000 000.00 | 8 250 000.00 | 0.30 |
| USD	REDCO PROPERTIES GROUP LTD-REG-S 13.00000% 20-27.05.23 | 2 100 000.00 | 2 206 968.75 | 0.08 |
| USD	REDCO PROPERTIES GROUP LTD-REG-S 11.00000% 20-06.08.22 | 4 200 000.00 | 4 273 500.00 | 0.16 |
| USD	REDSUN PROPERTIES GROUP LTD-REG-S 9.70000% 20-16.04.23 | 11 250 000.00 | 11 626 171.88 | 0.43 |
| USD	RENEW POWER PVT LTD-REG-S 6.45000% 19-27.09.22 | 15 000 000.00 | 15 534 375.00 | 0.57 |
| USD	RKPF OVERSEAS 2019 A LTD-REG-S 5.90000% 20-05.03.25 | 7 750 000.00 | 7 793 593.75 | 0.29 |
| USD	RONSHINE CHINA HOLDINGS LTD-REG-S 8.95000% 19-22.01.23 | 21 500 000.00 | 22 312 968.75 | 0.82 |
| USD	RONSHINE CHINA HOLDINGS LTD-REG-S 7.35000% 20-15.12.23 | 15 050 000.00 | 15 148 765.62 | 0.56 |
| USD	SCENERY JOURNEY LTD-REG-S 12.00000% 20-24.10.23 | 10 425 000.00 | 9 099 070.32 | 0.33 |
| USD	SEAZEN GROUP LTD-REG-S 6.45000% 20-11.06.22 | 12 000 000.00 | 12 225 000.00 | 0.45 |
| USD	SHIMAO PROPERTY HOLDINGS LTD-REG-S 5.60000% 19-15.07.26 | 1 250 000.00 | 1 360 156.25 | 0.05 |
| USD	SHIMAO PROPERTY HOLDINGS LTD-REG-S 4.60000% 20-13.07.30 | 9 725 000.00 | 10 405 750.00 | 0.38 |
| USD	SHUI ON DEVELOPMENT HOLDING LTD-REG-S 6.25000% 19-28.11.21 | 796 000.00 | 808 935.00 | 0.03 |
| USD	SHUI ON DEVELOPMENT HOLDING LTD-REG-S 6.15000% 20-24.08.24 | 44 925 000.00 | 45 205 781.25 | 1.66 |
| USD	SRI LANKA, DEMOCRATIC REP OF-REG-S 5.87500% 12-25.07.22 | 2 000 000.00 | 1 458 125.00 | 0.05 |
| USD	SRI LANKA, DEMOCRATIC REP OF-REG-S 6.20000% 17-11.05.27 | 23 705 000.00 | 13 963 726.56 | 0.51 |
| USD	SRI LANKA, DEMOCRATIC REP OF-REG-S 6.75000% 18-18.04.28 | 10 000 000.00 | 5 887 500.00 | 0.22 |
| USD	SRI LANKA, DEMOCRATIC REP OF-REG-S 6.85000% 19-14.03.24 | 2 425 000.00 | 1 548 968.75 | 0.06 |
| USD	SRI LANKA, DEMOCRATIC REP OF-REG-S 7.55000% 19-28.03.30 | 47 000 000.00 | 27 500 170.00 | 1.01 |
| USD	SRILANKAN AIRLINES LTD-REG-S 7.00000% 19-25.06.24 | 3 150 000.00 | 1 760 062.50 | 0.06 |

UBS (Lux) Bond SICAV – Asian High Yield (USD) Rapport semestriel au 30 novembre 2020
|  | Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| USD | STAR ENERGY GEOTHERMAL WAYANG-REG-S 6.75000% 18-24.04.33 | 7 500 000.00 | 7 589 039.06 | 0.28 |
| USD | STUDIO CITY FINANCE LTD-REG-S 7.25000% 19-11.02.24 | 14 249 000.00 | 14 846 318.08 | 0.55 |
| USD | STUDIO CITY FINANCE LTD-REG-S 6.50000% 20-15.01.28 | 16 475 000.00 | 17 367 780.25 | 0.64 |
| USD | SUNAC CHINA HOLDINGS LTD-REG-S 8.35000% 18-19.04.23 | 12 000 000.00 | 12 551 250.00 | 0.46 |
| USD | SUNAC CHINA HOLDINGS LTD-REG-S 6.50000% 20-09.07.23 | 2 000 000.00 | 2 005 000.00 | 0.07 |
| USD | SUNAC CHINA HOLDINGS LTD-REG-S 7.00000% 20-09.07.25 | 21 625 000.00 | 21 625 000.00 | 0.79 |
| USD | SUNAC CHINA HOLDINGS LTD-REG-S 6.65000% 20-03.08.24 | 16 700 000.00 | 16 720 875.00 | 0.61 |
| USD | THETA CAPITAL PTE LTD-REG-S 6.75000% 16-31.10.26 | 10 920 000.00 | 9 913 312.50 | 0.36 |
| USD | VEDANTA RESOURCES PLC-REG-S 6.37500% 17-30.07.22 | 9 200 000.00 | 6 992 000.00 | 0.26 |
| USD | VEDANTA RESOURCES PLC-REG-S 6.12500% 17-09.08.24 | 36 500 000.00 | 22 036 875.00 | 0.81 |
| USD | VIRGIN AUSTRALIA HOLD-REG-S *DEFAULTED* 8.12500% 19-15.11.24 | 11 000 000.00 | 673 750.00 | 0.02 |
| USD | WYNN MACAU LTD-REG-S 4.87500% 17-01.10.24 | 3 750 000.00 | 3 756 037.50 | 0.14 |
| USD | WYNN MACAU LTD-REG-S 5.50000% 17-01.10.27 | 4 000 000.00 | 4 030 000.00 | 0.15 |
| USD | WYNN MACAU LTD-REG-S 5.12500% 19-15.12.29 | 2 000 000.00 | 2 011 333.40 | 0.07 |
| USD | WYNN MACAU LTD-REG-S 5.50000% 20-15.01.26 | 25 350 000.00 | 25 631 892.00 | 0.94 |
| USD | YANGO JUSTICE INTERNATIONAL LTD-REG-S 8.25000% 20-25.11.23 | 12 600 000.00 | 13 017 375.00 | 0.48 |
| USD | YANGO JUSTICE INTERNATIONAL LTD-REG-S 7.50000% 20-15.04.24 | 11 925 000.00 | 12 044 250.00 | 0.44 |
| USD | YANGO JUSTICE INTERNATIONAL LTD-REG-S 7.50000% 20-17.02.25 | 3 575 000.00 | 3 592 875.00 | 0.13 |
| USD | YANLORD LAND HK CO LTD-REG-S 6.80000% 19-27.02.24 | 1 000 000.00 | 1 047 187.50 | 0.04 |
| USD | YUZHOU GROUP HOLDINGS CO LTD-REG-S 7.85000% 20-12.08.26 | 22 350 000.00 | 22 845 890.63 | 0.84 |
| USD | YUZHOU PROPERTIES CO LTD-REG-S 6.00000% 16-25.10.23 | 2 425 000.00 | 2 450 007.82 | 0.09 |
| USD | YUZHOU PROPERTIES CO LTD-REG-S 8.37500% 19-30.10.24 | 6 850 000.00 | 7 308 093.75 | 0.27 |
| USD | YUZHOU PROPERTIES CO LTD-REG-S 7.37500% 20-13.01.26 | 11 000 000.00 | 11 165 000.00 | 0.41 |
| USD | YUZHOU PROPERTIES CO LTD-REG-S 7.70000% 20-20.02.25 | 3 000 000.00 | 3 124 687.50 | 0.11 |
| USD | ZHENRO PROPERTIES GROUP LTD-REG-S 7.35000% 20-05.02.25 | 8 900 000.00 | 8 769 281.25 | 0.32 |
| Total USD |  |  | 1 020 418 667.39 | 37.47 |
| Total des Billets, taux fixe |  | 1 023 383 718.97 | 37.58 |
| Medium-Term Notes, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AXIATA SPV5 LABUAN LTD-REG-S 3.06400% 20-19.08.50 | 13 025 000.00 | 13 029 070.32 | 0.48 |
| USD	CENTRAL PLAZA DEVELOPMENT LTD-REG-S 3.85000% 20-14.07.25 | 10 000 000.00 | 9 659 375.00 | 0.35 |
| USD	FAR EAST HORIZON LTD-REG-S 3.37500% 20-18.02.25 | 5 000 000.00 | 4 984 375.00 | 0.18 |
| USD	GAJAH TUNGGAL TBK PT-REG-S 8.37500% 17-10.08.22 | 1 000 000.00 | 872 920.00 | 0.03 |
| USD	GLP CHINA HOLDINGS LTD-REG-S 4.97400% 19-26.02.24 | 16 383 000.00 | 17 417 176.87 | 0.64 |
| USD	GREENLAND GLOBAL INVESTMENT LTD-REG-S 5.25000% 18-12.02.21 | 750 000.00 | 742 680.00 | 0.03 |
| USD	HPCL MITTAL ENERGY LTD-REG-S 5.45000% 19-22.10.26 | 5 000 000.00 | 5 140 625.00 | 0.19 |
| USD	KWG GROUP HOLDINGS LTD-REG-S 7.40000% 19-05.03.24 | 15 000 000.00 | 15 900 000.00 | 0.58 |
| USD	KWG GROUP HOLDINGS LTD-REG-S 5.95000% 20-10.08.25 | 7 000 000.00 | 7 008 750.00 | 0.26 |
| USD	MUTHOOT FINANCE LTD-REG-S 6.12500% 19-31.10.22 | 7 000 000.00 | 7 312 812.50 | 0.27 |
| USD	MUTHOOT FINANCE LTD-REG-S 4.40000% 20-02.09.23 | 30 000 000.00 | 30 431 250.00 | 1.12 |
| USD	NWD MTN LTD-REG-S 4.50000% 20-19.05.30 | 27 760 000.00 | 29 460 855.20 | 1.08 |
| USD	REDCO PROPERTIES GROUP LTD-REG-S 9.90000% 20-17.02.24 | 12 825 000.00 | 12 431 785.50 | 0.46 |
| USD	SAN MIGUEL CORP-REG-S 4.87500% 13-26.04.23 | 1 300 000.00 | 1 307 592.00 | 0.05 |
| USD	SHRIRAM TRANSPORT FINANCE CO LTD-REG-S 5.95000% 19-24.10.22 | 5 000 000.00 | 5 126 562.50 | 0.19 |
| USD	SHRIRAM TRANSPORT FINANCE CO LTD-REG-S 5.10000% 20-16.07.23 | 29 500 000.00 | 30 053 125.00 | 1.10 |
| USD	THAIOIL TREASURY CENTER CO LTD-REG-S 3.75000% 20-18.06.50 | 9 200 000.00 | 9 270 196.00 | 0.34 |
| USD	YES BANK IFSC BANKING UNIT BR-REG-S 3.75000% 18-06.02.23 | 27 232 000.00 | 26 917 130.01 | 0.99 |
| Total USD |  | 227 066 280.90 | 8.34 |
| Total des Medium-Term Notes, taux fixe |  | 227 066 280.90 | 8.34 |
| Medium-Term Notes, taux variable |  |  |  |
| USD |  |  |  |
| USD	BANGKOK BANK PCL/HONG KONG-REG-S-SUB 3.733%/VAR 19-25.09.34 | 2 150 000.00 | 2 187 625.00 | 0.08 |
| USD	BANGKOK BANK PCL/HONG KONG-REG-S-SUB 5.000%/VAR 20-PRP | 46 525 000.00 | 47 222 875.00 | 1.74 |
| USD	BANK OF EAST ASIA LTD-REG-S-SUB 5.825%/VAR 20-PRP | 32 850 000.00 | 34 081 875.00 | 1.25 |
| USD	CITIC BANK INTERNATIONAL LTD-REG-S-SUB 4.250%/VAR 16-PRP | 500 000.00 | 501 250.00 | 0.02 |
| USD	KASIKORNBANK PCL-REG-S-SUB 5.275%/VAR 20-PRP | 46 750 000.00 | 47 159 062.50 | 1.73 |
| USD	KASIKORNBANK PCL/HONG KONG-REG-S-SUB 3.343%/VAR 19-02.10.31 | 24 876 000.00 | 25 054 796.25 | 0.92 |
| USD	OLAM INTERNATIONAL LTD-REG-S-SUB 5.350%/VAR 16-PRP | 350 000.00 | 350 109.37 | 0.01 |
| USD	WOORI BANK-REG-S-SUB 5.250%/VAR 17-PRP | 1 125 000.00 | 1 168 593.75 | 0.04 |
| Total USD |  | 157 726 186.87 | 5.79 |
| Total des Medium-Term Notes, taux variable |  | 157 726 186.87 | 5.79 |
| Obligations, taux fixe |  |  |  |
| USD |  |  |  |
| USD	ABJA INVESTMENT CO PTE LTD-REG-S 5.95000% 14-31.07.24 | 24 700 000.00 | 26 344 093.75 | 0.97 |
| USD	ADANI GREEN ENERGY UP LTD-REG-S 6.25000% 19-10.12.24 | 2 000 000.00 | 2 198 125.00 | 0.08 |
| USD	AGILE GROUP HOLDINGS LTD-REG-S 6.05000% 20-13.10.25 | 16 500 000.00 | 16 592 812.50 | 0.61 |
| USD	ALAM SUTERA REALTY TBK PT (PAY IN KIND) STEP UP 20-02.05.24 | 6 875 000.00 | 5 087 500.00 | 0.19 |
| USD	ALAM SUTERA REALTY TBK PT (PAY IN KIND) STEP UP 20-02.11.25 | 20 625 000.00 | 14 643 750.00 | 0.54 |
| USD	BANK TABUNGAN NEGARA PERSERO-REG-S-SUB 4.20000% 20-23.01.25 | 2 250 000.00 | 2 273 906.25 | 0.08 |
| USD	CENTRAL CHINA REAL ESTATE-REG-S 6.75000% 16-08.11.21 | 8 775 000.00 | 8 834 494.50 | 0.32 |
| USD	CENTRAL CHINA REAL ESTATE-REG-S 6.50000% 18-05.03.21 | 6 300 000.00 | 6 311 403.00 | 0.23 |
| USD	CFLD CAYMAN INVESTMENT LTD-REG-S 8.05000% 20-13.01.25 | 60 000 000.00 | 49 781 250.00 | 1.83 |
| USD	CHINA AOYUAN PROPERTY GROUP LTD-REG-S 5.37500% 17-13.09.22 | 6 875 000.00 | 6 906 625.00 | 0.25 |
| USD	CHINA AOYUAN PROPERTY GROUP LTD-REG-S 8.50000% 19-23.01.22 | 8 000 000.00 | 8 190 000.00 | 0.30 |
| USD	CHINA EVERGRANDE GROUP-REG-S 8.25000% 17-23.03.22 | 34 250 000.00 | 30 846 406.25 | 1.13 |
| USD	CHINA EVERGRANDE GROUP-REG-S 7.50000% 17-28.06.23 | 8 731 000.00 | 6 990 256.87 | 0.26 |
| USD	CHINA EVERGRANDE GROUP-REG-S 8.75000% 17-28.06.25 | 14 400 000.00 | 11 101 500.00 | 0.41 |
| USD	CHINA GRAND AUTOMOTIVE SERV LTD-REG-S 8.62500% 19-08.04.22 | 1 249 000.00 | 1 135 028.75 | 0.04 |
| USD	CHINA OIL & GAS GROUP LTD-REG-S 4.62500% 17-20.04.22 | 200 000.00 | 200 818.00 | 0.01 |
| USD	CHINA SCE GROUP HOLDINGS LTD-REG-S 7.00000% 20-02.05.25 | 14 875 000.00 | 15 098 125.00 | 0.55 |
| USD	CHINA SCE PROPERTY HOLDINGS LTD-REG-S 5.87500% 17-10.03.22 | 10 453 000.00 | 10 547 181.53 | 0.39 |
| USD	CIFI HOLDINGS GROUP CO LTD-REG-S 5.25000% 20-13.05.26 | 10 000 000.00 | 10 150 000.00 | 0.37 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 5.12500% 20-14.01.27 | 7 550 000.00 | 8 078 500.00 | 0.30 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 5.40000% 20-27.05.25 | 6 650 000.00 | 7 154 984.38 | 0.26 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 4.80000% 20-06.08.30 | 13 975 000.00 | 14 883 375.00 | 0.55 |
| USD	DEVELOPMENT BANK OF MONGOLIA LLC-REG-S 7.25000% 18-23.10.23 | 900 000.00 | 961 593.75 | 0.03 |
| USD	EASY TACTIC LTD-REG-S 5.87500% 17-13.02.23 | 24 525 000.00 | 21 298 491.00 | 0.78 |

UBS (Lux) Bond SICAV – Asian High Yield (USD) Rapport semestriel au 30 novembre 2020
|  | Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  |  | Nominal | Bénéfice/(perte) non | de |
|  |  |  | réalisé(e) sur futures/ | l’actif |
|  |  |  | Contrats de | net |
|  |  |  | change à terme/ |  |
|  |  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| USD | EASY TACTIC LTD-REG-S 7.00000% 18-25.04.21 | 3 000 000.00 | 2 963 040.00 | 0.11 |
| USD | EASY TACTIC LTD-REG-S 8.87500% 18-27.09.21 | 3 000 000.00 | 2 955 000.00 | 0.11 |
| USD | EASY TACTIC LTD-REG-S 8.12500% 19-27.02.23 | 20 750 000.00 | 18 739 843.75 | 0.69 |
| USD | EASY TACTIC LTD-REG-S 8.62500% 19-27.02.24 | 4 600 000.00 | 4 032 187.50 | 0.15 |
| USD | EHI CAR SERVICES LTD-REG-S 5.87500% 17-14.08.22 | 1 500 000.00 | 1 322 812.50 | 0.05 |
| USD | FORTUNE STAR BVI LTD-REG-S 5.25000% 17-23.03.22 | 10 500 000.00 | 10 598 437.50 | 0.39 |
| USD | FORTUNE STAR BVI LTD-REG-S 5.37500% 17-05.12.20 | 2 194 000.00 | 2 191 498.84 | 0.08 |
| USD | FPC RESOURCES LTD-REG-S 4.37500% 20-11.09.27 | 23 775 000.00 | 24 607 125.00 | 0.90 |
| USD | FUFENG GROUP LTD-REG-S 5.87500% 18-28.08.21 | 9 500 000.00 | 9 651 557.30 | 0.35 |
| USD | GOLDEN WHEEL TIANDI HLDGS CO LTD-REG-S 12.95000% 20-14.03.22 | 5 000 000.00 | 4 900 000.00 | 0.18 |
| USD | GREENKO INVESTMENT CO-REG-S 4.87500% 16-16.08.23 | 7 717 000.00 | 7 825 520.32 | 0.29 |
| USD | GREENKO SOLAR MAURITIUS LTD-REG-S 5.55000% 19-29.01.25 | 5 000 000.00 | 5 150 000.00 | 0.19 |
| USD | GREENKO SOLAR MAURITIUS LTD-REG-S 5.95000% 19-29.07.26 | 10 000 000.00 | 10 687 500.00 | 0.39 |
| USD | HILONG HOLDING LTD-REG-S *DEFAULTED* 7.25000% 17-22.06.20 | 1 400 000.00 | 793 625.00 | 0.03 |
| USD | HPCL MITTAL ENERGY LTD-REG-S 5.25000% 17-28.04.27 | 3 350 000.00 | 3 449 453.13 | 0.13 |
| USD | JSW STEEL LTD-REG-S 5.25000% 17-13.04.22 | 1 000 000.00 | 1 024 375.00 | 0.04 |
| USD | JSW STEEL LTD-REG-S 5.95000% 19-18.04.24 | 6 290 000.00 | 6 639 881.25 | 0.24 |
| USD | KAISA GROUP HOLDINGS LTD-REG-S 8.50000% 17-30.06.22 | 5 000 000.00 | 5 020 312.50 | 0.18 |
| USD | KAISA GROUP HOLDINGS LTD-REG-S 9.37500% 17-30.06.24 | 14 000 000.00 | 13 479 375.00 | 0.49 |
| USD | KWG GROUP HOLDINGS LTD-REG-S 5.87500% 17-10.11.24 | 3 300 000.00 | 3 358 781.25 | 0.12 |
| USD | KWG PROPERTY HOLDING LTD-REG-S 7.40000% 20-13.01.27 | 10 000 000.00 | 10 259 375.00 | 0.38 |
| USD | LAI FUNG BONDS-REG-S 5.65000% 18-18.01.23 | 3 830 000.00 | 3 561 900.58 | 0.13 |
| USD | LODHA DEVELOPERS INTL LTD-REG-S 14.00000% 20-12.03.23 | 11 000 000.00 | 10 560 000.00 | 0.39 |
| USD | LS FINANCE 2025 LTD-REG-S 4.50000% 15-26.06.25 | 750 000.00 | 720 072.97 | 0.03 |
| USD | MARBLE II PTE LTD-REG-S 5.30000% 17-20.06.22 | 500 000.00 | 502 187.50 | 0.02 |
| USD | MELCO RESORTS FINANCE LTD-REG-S 5.25000% 19-26.04.26 | 1 000 000.00 | 1 034 740.00 | 0.04 |
| USD | MODERNLA OVE PTE LTD-REG-S *DEFAULTED* 6.95000% 17-13.04.24 | 19 625 000.00 | 8 690 195.31 | 0.32 |
| USD | NWD FINANCE BVI LTD-REG-S 5.75000% 16-PRP | 1 000 000.00 | 1 005 005.20 | 0.04 |
| USD | NWD MTN LTD-REG-S 4.12500% 19-18.07.29 | 14 500 000.00 | 15 021 740.44 | 0.55 |
| USD | PB INTERNATIONAL BV-REG-S 7.62500% 17-26.01.22 | 500 000.00 | 324 218.75 | 0.01 |
| USD | PRIME BLOOM HOLDINGS LTD-REG-S 6.95000% 17-05.07.22 | 840 000.00 | 154 350.00 | 0.01 |
| USD | PROVEN HONOUR CAPITAL LTD-REG-S 4.12500% 16-06.05.26 | 34 000 000.00 | 35 700 000.00 | 1.31 |
| USD | RENEW POWER PVT LTD-REG-S 5.87500% 20-05.03.27 | 4 450 000.00 | 4 650 250.00 | 0.17 |
| USD | RENEW POWER SYNTHETIC-REG-S 6.67000% 19-12.03.24 | 12 000 000.00 | 12 675 000.00 | 0.46 |
| USD | RKPF OVERSEAS 2019 A LTD-REG-S 6.00000% 20-04.09.25 | 22 500 000.00 | 22 668 750.00 | 0.83 |
| USD | ROYAL CAPITAL BV-REG-S 5.87500% 18-PRP | 2 835 000.00 | 2 867 779.68 | 0.10 |
| USD | SCENERY JOURNEY LTD-REG-S 13.75000% 18-06.11.23 | 5 000 000.00 | 4 500 000.00 | 0.16 |
| USD | SEAZEN GROUP LTD-REG-S 6.00000% 20-12.08.24 | 11 275 000.00 | 11 500 500.00 | 0.42 |
| USD | SHIMAO PROPERTY HOLDINGS LTD-REG-S 4.75000% 17-03.07.22 | 1 000 000.00 | 1 021 250.00 | 0.04 |
| USD | STAR ENERGY GEOTHERMAL DARAJAT II-REG-S 4.85000% 20-14.10.38 | 21 475 000.00 | 23 360 773.43 | 0.86 |
| USD | SUNAC CHINA HOLDINGS LTD-REG-S 7.95000% 19-11.10.23 | 6 600 000.00 | 6 849 562.50 | 0.25 |
| USD | SUNAC CHINA HOLDINGS LTD-REG-S 6.50000% 20-10.01.25 | 5 500 000.00 | 5 417 500.00 | 0.20 |
| USD | THETA CAPITAL PTE LTD-REG-S 8.12500% 20-22.01.25 | 9 000 000.00 | 8 870 625.00 | 0.33 |
| USD | TIMES CHINA HOLDINGS LTD-REG-S 7.85000% 18-04.06.21 | 12 469 000.00 | 12 595 560.35 | 0.46 |
| USD | TIMES CHINA HOLDINGS LTD-REG-S 7.62500% 19-21.02.22 | 12 000 000.00 | 12 195 000.00 | 0.45 |
| USD | TSINGHUA UNIC LTD-REG-S 4.75000% 18-31.01.21 | 6 000 000.00 | 1 939 687.80 | 0.07 |
| USD | TSINGHUA UNIC LTD-REG-S 5.37500% 18-31.01.23 | 7 475 000.00 | 1 719 250.00 | 0.06 |
| USD | UPL CORP LTD-REG-S 4.62500% 20-16.06.30 | 29 250 000.00 | 31 251 796.87 | 1.15 |
| USD | VEDANTA RESOURCES FINANCE II PLC-REG-S 9.25000% 19-23.04.26 | 2 000 000.00 | 1 305 000.00 | 0.05 |
| USD | VEDANTA RESOURCES FINANCE II PLC-REG-S 8.00000% 19-23.04.23 | 13 365 000.00 | 9 021 375.00 | 0.33 |
| USD | WANDA PROPERTIES INTERNATIONAL-REG-S 7.25000% 14-19.01.24 | 7 500 000.00 | 7 425 000.00 | 0.27 |
| USD | WANDA PROPERTIES OVERSEAS LTD-REG-S 6.95000% 19-05.12.22 | 4 000 000.00 | 4 010 000.00 | 0.15 |
| USD | WANDA PROPERTIES OVERSEAS LTD-REG-S 6.87500% 20-23.07.23 | 3 000 000.00 | 2 970 000.00 | 0.11 |
| USD | WEALTH DRIVEN LTD-REG-S 5.50000% 16-17.08.23 | 5 850 000.00 | 5 941 406.25 | 0.22 |
| USD | YANLORD LAND HK CO LTD-REG-S 6.75000% 18-23.04.23 | 16 000 000.00 | 16 610 000.00 | 0.61 |
| USD | YUZHOU PROPERTIES CO LTD-REG-S 8.50000% 19-04.02.23 | 1 000 000.00 | 1 067 187.50 | 0.04 |
| USD | YUZHOU PROPERTIES CO LTD-REG-S 8.50000% 19-26.02.24 | 4 000 000.00 | 4 263 750.00 | 0.16 |
| USD | YUZHOU PROPERTIES CO LTD-REG-S 8.30000% 19-27.05.25 | 2 525 000.00 | 2 663 875.00 | 0.10 |
| USD | ZOOMLION HK SPV CO LTD-REG-S 6.12500% 12-20.12.22 | 1 250 000.00 | 1 301 137.50 | 0.05 |
| Total USD |  |  | 733 196 349.00 | 26.92 |
| Total des Obligations, taux fixe |  | 733 196 349.00 | 26.92 |
| Obligations, taux variable |  |  |  |
| USD |  |  |  |
| USD	BANK OF EAST ASIA LTD/THE-REG-S-SUB 5.625%/VAR 17-PRP | 2 470 000.00 | 2 507 050.00 | 0.09 |
| USD	BANK OF EAST ASIA LTD/THE-REG-S-SUB 5.875%/VAR 19-PRP | 8 322 000.00 | 8 609 941.20 | 0.32 |
| USD	BAOXIN AUTO FINANCE I LTD-REG-S 5.625%/VAR 17-PRP | 2 900 000.00 | 2 219 406.25 | 0.08 |
| USD	CHALIECO HONG KONG CORP LTD-REG-S 5.000%/VAR 19-PRP | 1 575 000.00 | 1 594 195.31 | 0.06 |
| USD	CHINA MINMETALS CORP-REG-S 3.750%/VAR 17-PRP | 500 000.00 | 506 093.75 | 0.02 |
| USD	ESTATE SKY LTD-REG-S 5.750%/VAR 17-PRP | 1 900 000.00 | 1 710 000.00 | 0.06 |
| USD	FRANSHION BRILLIANT LTD-REG-S-SUB 5.750%/VAR 17-PRP | 2 550 000.00 | 2 402 578.13 | 0.09 |
| USD	FRANSHION BRILLIANT LTD-REG-S-SUB 4.875%/VAR 17-PRP | 2 000 000.00 | 1 669 375.00 | 0.06 |
| USD	KING TALENT MANAGEMENT LTD-REG-S-SUB 5.600%/VAR 17-PRP | 7 290 000.00 | 6 324 075.00 | 0.23 |
| USD	NETWORK I2I LTD-REG-S-SUB 5.650%/VAR 19-PRP | 27 375 000.00 | 28 606 875.00 | 1.05 |
| USD	NWD FINANCE BVI LTD-REG-S 5.250%/VAR 20-PRP | 11 625 000.00 | 12 179 835.68 | 0.45 |
| USD	PETRON CORP-REG-S 4.600%/VAR 18-PRP | 8 190 000.00 | 7 754 906.25 | 0.28 |
| USD	POSTAL SAVINGS BANK OF CHINA-REG-S-SUB 4.500%/VAR 17-PRP | 20 725 000.00 | 21 217 218.75 | 0.78 |
| USD	ROYAL CAPITAL BV-REG-S 4.875%/VAR 16-PRP | 7 000 000.00 | 7 067 830.00 | 0.26 |
| USD	SHUI ON DEVELOPMENT HOLDING LTD-REG-S 6.400%/VAR 17-PRP | 5 500 000.00 | 5 410 625.00 | 0.20 |
| USD	SINO OCEAN LAND TREASURE-REG-S-SUB 4.900%/VAR 17-PRP | 9 417 000.00 | 7 857 309.37 | 0.29 |
| USD	SMC GLOBAL POWER HOLDINGS CORP-REG-S-SUB 6.750%/VAR 15-PRP | 8 350 000.00 | 8 369 288.50 | 0.31 |
| USD	SMC GLOBAL POWER HOLDINGS CORP-REG-S 6.500%/VAR 19-PRP | 3 500 000.00 | 3 531 718.75 | 0.13 |
| USD	SMC GLOBAL POWER HOLDINGS CORP-REG-S 5.700%/VAR 20-PRP | 3 325 000.00 | 3 259 539.06 | 0.12 |
| USD	SMC GLOBAL POWER HOLDINGS CORP-REG-S 7.000%/VAR 20-PRP | 21 900 000.00 | 22 474 875.00 | 0.82 |
| Total USD |  | 155 272 736.00 | 5.70 |
| Total des Obligations, taux variable |  | 155 272 736.00 | 5.70 |

UBS (Lux) Bond SICAV – Asian High Yield (USD) Rapport semestriel au 30 novembre 2020
| Dénomination	Nombre/ | Evaluation en USD | en % |
| --- | --- | --- |
| Nominal | Bénéfice/(perte) non | de |
|  | réalisé(e) sur futures/ | l’actif |
|  | Contrats de | net |
|  | change à terme/ |  |
|  | Swaps (note 1) |  |

Obligations convertibles, taux variable
USD
| USD | BANK OF CHINA LTD-REG-S-SUB 3.600%/VAR 20-PRP | 15 000 000.00 | 15 070 312.50 | 0.56 |
| --- | --- | --- | --- | --- |
| Total USD | 15 070 312.50 | 0.56 |
| Total des Obligations convertibles, taux variable | 15 070 312.50 | 0.56 |
| Total des Titres et instruments du marché monétaire négociés sur une bourse officielle | 2 311 715 584.24 | 84.89 |
| Total du Portefeuille-titres | 2 311 715 584.24 | 84.89 |

| Instruments dérivés |  |
| --- | --- |
| Instruments dérivés négociés sur une bourse officielle |
| Contrats financiers à terme sur obligations |
|  |  |  |  |
| USD	US ULTRA LONG BOND (CBT) FUTURE 22.03.21 | 64.00 | 146 499.97 | 0.00 |
| USD	US 10YR TREASURY NOTE FUTURE 22.03.21 | 1 000.00 | 437 500.00 | 0.02 |
| Total des Contrats financiers à terme sur obligations |  | 583 999.97 | 0.02 |
| Total des Instruments dérivés négociés sur une bourse officielle |  | 583 999.97 | 0.02 |
| Total des Instruments dérivés |  | 583 999.97 | 0.02 |
| Contrats de change à terme |  |  |  |
| Devise achetée/Montant acheté/Devise vendue/Montant vendu/Date de maturité |  |  |  |

| USD | 60 335 000.00 | KRW | 68 399 858 780.00 | 15.12.2020 | -1 404 756.93 | -0.05 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 60 525 944.83 | KRW | 68 741 131 320.00 | 15.12.2020 | -1 521 854.90 | -0.06 |
| INR | 483 470 000.00 | USD | 6 502 622.73 | 15.12.2020 | 24 378.21 | 0.00 |
| GBP | 29 951 300.00 | USD | 40 074 420.08 | 21.1.2021 | -60 282.70 | 0.00 |
| AUD | 5 599 700.00 | USD | 4 123 378.29 | 21.1.2021 | 4 776.42 | 0.00 |
| SEK | 123 690 700.00 | USD | 14 360 039.67 | 21.1.2021 | 123 467.95 | 0.00 |
| SGD | 114 181 400.00 | USD | 85 074 769.21 | 21.1.2021 | 158 129.05 | 0.01 |
| ZAR | 15 349 100.00 | USD | 993 415.57 | 21.1.2021 | -8 245.76 | 0.00 |
| CHF | 41 657 700.00 | USD | 45 782 471.80 | 21.1.2021 | 321 324.60 | 0.01 |
| EUR | 169 256 100.00 | USD | 201 489 570.20 | 21.1.2021 | 1 290 448.40 | 0.05 |
| SGD | 1 359 100.00 | USD | 1 013 934.42 | 21.1.2021 | 591.87 | 0.00 |
| ZAR | 251 600.00 | USD | 16 405.77 | 21.1.2021 | -257.02 | 0.00 |
| SGD | 1 384 400.00 | USD | 1 034 880.81 | 21.1.2021 | -1 468.85 | 0.00 |
| AUD | 247 000.00 | USD | 182 819.03 | 21.1.2021 | -728.17 | 0.00 |
| EUR | 1 922 000.00 | USD | 2 299 150.22 | 21.1.2021 | 3 533.09 | 0.00 |
| INR | 9 445 900 000.00 | USD | 127 051 528.64 | 15.12.2020 | 471 168.09 | 0.02 |
| USD | 63 711 172.81 | IDR | 952 290 900 000.00 | 15.12.2020 | -3 435 800.64 | -0.13 |
| USD | 2 769 502.48 | CNH | 19 040 000.00 | 15.12.2020 | -121 863.00 | 0.00 |
| INR | 599 260 000.00 | USD | 8 087 943.53 | 15.12.2020 | 2 259.76 | 0.00 |
| USD | 6 088 479.69 | IDR | 91 589 000 000.00 | 15.12.2020 | -369 551.31 | -0.01 |
| KRW | 81 445 866 600.00 | USD | 70 140 000.00 | 15.12.2020 | 3 375 473.52 | 0.12 |
| USD | 64 700 000.00 | INR | 4 762 696 400.00 | 15.12.2020 | 402 062.42 | 0.01 |
| KRW | 55 695 123 500.00 | USD | 48 575 000.00 | 15.12.2020 | 1 697 083.14 | 0.06 |
| Total des Contrats de change à terme | 949 887.24 | 0.03 |
|  |  |  |
| Avoirs en banque, dépôts à vue et à terme et autres liquidités | 348 779 886.30* | 12.81 |
| Autres actifs et passifs | 61 089 428.21 | 2.25 |
| Total de l’Actif net | 2 723 118 785.96 | 100.00 |

* Au 30 novembre 2020, des avoirs en banque ont été utilisés à titre de garanties, à hauteur de 1 180 000.00 USD en faveur de Bank of America, à hauteur de 1 470 000.00 USD en faveur de Citibank London et à hauteur de 3 177 000.00 USD en faveur de JP Morgan .
UBS (Lux) Bond SICAV – Asian High Yield (USD) Rapport semestriel au 30 novembre 2020