# UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD)
| Most important figures |  |
| --- | --- |
|  | ISIN | 30.9.2021 | 31.3.2021 | 31.3.2020 |
| Net assets in USD |  | 699 666 791.25 | 670 960 500.68 | 239 902 499.64 |
| Class F-acc | LU0464245496 |  |  |  |
| Units outstanding |  | 327 221.6990 | 328 115.8620 | 217 947.8180 |
| Net asset value per unit in USD |  | 183.98 | 185.35 | 167.72 |
| Issue and redemption price per unit in USD 1 |  | 184.90 | 185.35 | 166.46 |
| Class (EUR hedged) F-acc | LU0464251627 |  |  |  |
| Units outstanding |  | 117 953.5270 | 122 155.5300 | 37 333.5300 |
| Net asset value per unit in EUR |  | 161.16 | 162.91 | 149.04 |
| Issue and redemption price per unit in EUR 1 |  | 161.97 | 162.91 | 147.92 |
| Class (SGD hedged) F-acc | LU0964819261 |  |  |  |
| Units outstanding |  | 54 223.8510 | 50 825.0000 | 43 645.7350 |
| Net asset value per unit in SGD |  | 102.90 | 103.62 | 94.01 |
| Issue and redemption price per unit in SGD 1 |  | 103.41 | 103.62 | 93.30 |
| Class I-A1-acc | LU0464245819 |  |  |  |
| Units outstanding |  | 334 158.8290 | 574 626.2000 | 120 329.5010 |
| Net asset value per unit in USD |  | 159.14 | 160.47 | 145.61 |
| Issue and redemption price per unit in USD 1 |  | 159.94 | 160.47 | 144.52 |
| Class (EUR hedged) I-A1-acc 2 | LU2257650221 |  |  |  |
| Units outstanding |  | 98 422.4220 | 100.0000 | - |
| Net asset value per unit in EUR |  | 99.15 | 100.28 | - |
| Issue and redemption price per unit in EUR 1 |  | 99.65 | 100.28 | - |
| Class (GBP hedged) I-A2-dist 3 | LU2215770434 |  |  |  |
| Units outstanding |  | 597 147.1470 | 544 453.3450 | - |
| Net asset value per unit in GBP |  | 99.08 | 101.24 | - |
| Issue and redemption price per unit in GBP 1 |  | 99.58 | 101.24 | - |
| Class I-A3-acc 4 | LU0464246205 |  |  |  |
| Units outstanding |  | 39 391.8190 | 100.0000 | - |
| Net asset value per unit in USD |  | 98.39 | 99.12 | - |
| Issue and redemption price per unit in USD 1 |  | 98.88 | 99.12 | - |
| Class I-B-acc | LU1881004490 |  |  |  |
| Units outstanding |  | 548 310.0000 | 490 130.0000 | 184 910.0000 |
| Net asset value per unit in USD |  | 123.79 | 124.49 | 112.33 |
| Issue and redemption price per unit in USD 1 |  | 124.41 | 124.49 | 111.49 |
| Class I-X-acc | LU0464246890 |  |  |  |
| Units outstanding |  | 362 573.2070 | 96 676.6320 | 5 085.9790 |
| Net asset value per unit in USD |  | 188.24 | 189.19 | 170.51 |
| Issue and redemption price per unit in USD 1 |  | 189.18 | 189.19 | 169.23 |
| Class I-X-dist | LU0464246627 |  |  |  |
| Units outstanding |  | 31 300.0000 | 77 599.9850 | 97 559.9850 |
| Net asset value per unit in USD |  | 106.85 | 114.08 | 108.29 |
| Issue and redemption price per unit in USD 1 |  | 107.38 | 114.08 | 107.48 |
| Class K-B-acc 5 | LU2333664980 |  |  |  |
| Units outstanding |  | 305 090.2700 | - | - |
| Net asset value per unit in USD |  | 97.34 | - | - |
| Issue and redemption price per unit in USD 1 |  | 97.83 | - | - |
| Class (EUR hedged) N-acc | LU0464250819 |  |  |  |
| Units outstanding |  | 19 806.1270 | 14 018.7260 | 8 523.3950 |
| Net asset value per unit in EUR |  | 129.71 | 131.88 | 122.16 |
| Issue and redemption price per unit in EUR 1 |  | 130.36 | 131.88 | 121.24 |
| Class P-acc | LU0464244333 |  |  |  |
| Units outstanding |  | 292 382.1520 | 316 817.3310 | 308 150.1680 |
| Net asset value per unit in USD |  | 166.17 | 168.13 | 153.78 |
| Issue and redemption price per unit in USD 1 |  | 167.00 | 168.13 | 152.63 |
| Class (EUR hedged) P-acc | LU0464250652 |  |  |  |
| Units outstanding |  | 307 699.5660 | 308 087.3580 | 178 050.0760 |
| Net asset value per unit in EUR |  | 148.32 | 150.60 | 139.15 |
| Issue and redemption price per unit in EUR 1 |  | 149.06 | 150.60 | 138.11 |
| Class (SGD hedged) P-acc | LU0464247518 |  |  |  |
| Units outstanding |  | 5 509.0980 | 6 538.3690 | 5 041.7320 |
| Net asset value per unit in SGD |  | 157.87 | 159.68 | 146.31 |
| Issue and redemption price per unit in SGD 1 |  | 158.66 | 159.68 | 145.21 |
| 1  See note 1 2  First NAV: 26.11.2020 3  First NAV: 21.10.2020 4  First NAV: 3.3.2021 5  First NAV: 6.7.2021 |  |  |  |  |

UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) Semi-Annual Report as of 30 September 2021
|  | ISIN | 30.9.2021 | 31.3.2021 | 31.3.2020 |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Class (EUR hedged) P-dist | LU0464250496 |  |  |  |
| Units outstanding |  | 65 582.3960 | 60 033.6140 | 50 145.3160 |
| Net asset value per unit in EUR |  | 102.56 | 106.45 | 101.74 |
| Issue and redemption price per unit in EUR 1 |  | 103.07 | 106.45 | 100.98 |
| Class P-mdist | LU0464244259 |  |  |  |
| Units outstanding |  | 408 421.7670 | 399 283.9970 | 204 086.5510 |
| Net asset value per unit in USD |  | 97.17 | 100.09 | 94.82 |
| Issue and redemption price per unit in USD 1 |  | 97.66 | 100.09 | 94.11 |
| Class (SGD hedged) P-mdist | LU0464247435 |  |  |  |
| Units outstanding |  | 70 961.1870 | 86 224.2390 | 65 432.2390 |
| Net asset value per unit in SGD |  | 96.33 | 99.30 | 93.97 |
| Issue and redemption price per unit in SGD 1 |  | 96.81 | 99.30 | 93.27 |
| Class Q-acc | LU0464245652 |  |  |  |
| Units outstanding |  | 115 264.0470 | 181 844.0360 | 165 684.1910 |
| Net asset value per unit in USD |  | 131.52 | 132.72 | 120.62 |
| Issue and redemption price per unit in USD 1 |  | 132.18 | 132.72 | 119.72 |
| Class (EUR hedged) Q-acc | LU0464251973 |  |  |  |
| Units outstanding |  | 131 613.6350 | 233 991.2350 | 23 612.6750 |
| Net asset value per unit in EUR |  | 119.30 | 120.82 | 110.93 |
| Issue and redemption price per unit in EUR 1 |  | 119.90 | 120.82 | 110.10 |
| Class (EUR hedged) Q-dist | LU0464251890 |  |  |  |
| Units outstanding |  | 727 557.1150 | 678 287.1150 | 7 775.4370 |
| Net asset value per unit in EUR |  | 99.79 | 103.90 | 98.62 |
| Issue and redemption price per unit in EUR 1 |  | 100.29 | 103.90 | 97.88 |
| Class (GBP hedged) Q-dist 6 | LU2215770780 |  |  |  |
| Units outstanding |  | 9 981.4630 | 5 886.3280 | - |
| Net asset value per unit in GBP |  | 99.94 | 101.84 | - |
| Issue and redemption price per unit in GBP 1 |  | 100.44 | 101.84 | - |
| Class Q-mdist | LU0464245579 |  |  |  |
| Units outstanding |  | 59 800.5620 | 71 003.9970 | 19 425.0830 |
| Net asset value per unit in USD |  | 105.67 | 108.59 | 102.17 |
| Issue and redemption price per unit in USD 1 |  | 106.20 | 108.59 | 101.40 |
| Class U-X-UKdist-mdist | LU1896727721 |  |  |  |
| Units outstanding |  | 1 232.9870 | 1 192.9870 | 1 311.9870 |
| Net asset value per unit in USD |  | 10 743.32 | 10 962.14 | 10 251.65 |
| Issue and redemption price per unit in USD 1 |  | 10 797.04 | 10 962.14 | 10 174.76 |
| 1  See note 1 6  First NAV: 18.9.2020 |  |  |  |  |


## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
Hong Kong	15.97
Cayman Islands	15.84
British Virgin Islands	9.89
China	7.74
Singapore	6.88
Philippines	5.22
Luxembourg	4.98
South Korea	4.92
Japan	3.29
India	3.20
Indonesia	2.63
Malaysia	1.79
Thailand	1.49
Pakistan	0.85
Vietnam	0.79
United States	0.75
United Kingdom	0.74
Ireland	0.61
France	0.54
Macau	0.40
Sri Lanka	0.27
Mauritius	0.19
Mexico	0.16
The Netherlands	0.12
Mongolia	0.07
Chile	0.07
Economic Breakdown as a % of net assets	
Finance & holding companies	26.58
Banks & credit institutions	15.74
Real Estate	11.00
Investment funds	7.31
Countries & central governments	4.38
Building industry & materials	4.14
Internet, software & IT services	3.88
Energy & water supply	3.13
Petroleum	2.50
Miscellaneous trading companies	1.83
Food & soft drinks	1.12
Miscellaneous unclassified companies	1.11
Chemicals	1.08
Miscellaneous services	1.01
Traffic & transportation	0.93
Mining, coal & steel	0.91
Insurance	0.88
Cities & municipal authorities	0.70
Lodging, catering & leisure	0.50
Telecommunications	0.28
Mechanical engineering & industrial equipment	0.22
Graphic design, publishing & media	0.15
Electronics & semiconductors	0.02
Total	89.40
Total	89.40
UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) Semi-Annual Report as of 30 September 2021

## Statement of Net Assets
Assets	30.9.2021
USD
Investments in securities, cost	642 679 823.07
| Investments in securities, unrealized appreciation (depreciation) | 	-17 147 258.32	 |
| --- | --- |
| Total investments in securities (Note 1) | 625 532 564.75 |
| Cash at banks, deposits on demand and deposit accounts | 95 803 862.16 |
| Other liquid assets (Margins) | 209 020.13 |
| Receivable on subscriptions | 2 273 597.78 |
| Interest receivable on securities | 6 285 441.59 |
| Other receivables | 8 417 205.44 |
| Unrealized gain on financial futures (Note 1) | 421 015.74 |
| Total Assets | 738 942 707.59 |
|  |  |
| Liabilities |  |
| Unrealized loss on forward foreign exchange contracts (Note 1) | -3 558 271.86 |
| Interest payable on bank overdraft | -6.85 |
| Payable on securities purchases (Note 1) | -33 094 987.68 |
| Payable on redemptions | -2 317 981.32 |
| Provisions for flat fee (Note 2) | -188 071.98 |
| Provisions for taxe d’abonnement (Note 3) | -46 309.50 |
| Provisions for other commissions and fees (Note 2) | 	-70 287.15	 |
| Total provisions | -304 668.63 |
| Total Liabilities | -39 275 916.34 |
|  |  |
| Net assets at the end of the period | 699 666 791.25 |
| Statement of Operations | USD |
| Income | 1.4.2021-30.9.2021 |
| Interest on liquid assets | 241.82 |
| Interest on securities | 12 982 438.74 |
| Net income on securities lending | 107 092.55 |
| Total income | 13 089 773.11 |
|  |  |
| Expenses |  |
| Flat fee (Note 2) | -2 461 807.34 |
| Taxe d’abonnement (Note 3) | -96 197.35 |
| Other commissions and fees (Note 2) | -71 816.24 |
| Interest on cash and bank overdraft | -9 281.72 |
| Other expenses | -21 202.70 |
| Total expenses | -2 660 305.35 |
|  |  |
| Net income (loss) on investments | 10 429 467.76 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | 5 656 370.43 |
| Realized gain (loss) on financial futures | -3 542 647.97 |
| Realized gain (loss) on forward foreign exchange contracts | -6 451 041.39 |
| Realized gain (loss) on foreign exchange | 286 608.47 |
| Total realized gain (loss) | -4 050 710.46 |
|  |  |
| Net realized gain (loss) of the period | 6 378 757.30 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | -18 097 462.82 |
| Unrealized appreciation (depreciation) on financial futures | -605 390.40 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | -473 850.16 |
| Total changes in unrealized appreciation (depreciation) | -19 176 703.38 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | -12 797 946.08 |

UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) Semi-Annual Report as of 30 September 2021
| Statement of Changes in Net Assets |  |
| --- | --- |
|  | USD |
|  | 1.4.2021-30.9.2021 |
| Net assets at the beginning of the period | 670 960 500.68 |
| Subscriptions | 225 857 085.79 |
| Redemptions | 	-179 134 609.83	 |
| Total net subscriptions (redemptions) | 46 722 475.96 |
| Dividend paid | -5 218 239.31 |
| Net income (loss) on investments | 10 429 467.76 |
| Total realized gain (loss) | -4 050 710.46 |
| Total changes in unrealized appreciation (depreciation) | 	-19 176 703.38	 |
| Net increase (decrease) in net assets as a result of operations | -12 797 946.08 |
| Net assets at the end of the period | 699 666 791.25 |
| Development of the outstanding units |  |
|  | 1.4.2021-30.9.2021 |
| Class | F-acc |
| Number of units outstanding at the beginning of the period | 328 115.8620 |
| Number of units issued | 52 014.6920 |
| Number of units redeemed | -52 908.8550 |
| Number of units outstanding at the end of the period | 327 221.6990 |
| Class | (EUR hedged) F-acc |
| Number of units outstanding at the beginning of the period | 122 155.5300 |
| Number of units issued | 8 012.9970 |
| Number of units redeemed | -12 215.0000 |
| Number of units outstanding at the end of the period | 117 953.5270 |
| Class | (SGD hedged) F-acc |
| Number of units outstanding at the beginning of the period | 50 825.0000 |
| Number of units issued | 9 676.1950 |
| Number of units redeemed | -6 277.3440 |
| Number of units outstanding at the end of the period | 54 223.8510 |
| Class | I-A1-acc |
| Number of units outstanding at the beginning of the period | 574 626.2000 |
| Number of units issued | 164 251.8410 |
| Number of units redeemed | -404 719.2120 |
| Number of units outstanding at the end of the period | 334 158.8290 |
| Class | (EUR hedged) I-A1-acc |
| Number of units outstanding at the beginning of the period | 100.0000 |
| Number of units issued | 98 422.4220 |
| Number of units redeemed | -100.0000 |
| Number of units outstanding at the end of the period | 98 422.4220 |
| Class | (GBP hedged) I-A2-dist |
| Number of units outstanding at the beginning of the period | 544 453.3450 |
| Number of units issued | 70 395.1040 |
| Number of units redeemed | -17 701.3020 |
| Number of units outstanding at the end of the period | 597 147.1470 |
| Class | I-A3-acc |
| Number of units outstanding at the beginning of the period | 100.0000 |
| Number of units issued | 48 132.2230 |
| Number of units redeemed | -8 840.4040 |
| Number of units outstanding at the end of the period | 39 391.8190 |
| Class | I-B-acc |
| Number of units outstanding at the beginning of the period | 490 130.0000 |
| Number of units issued | 66 680.0000 |
| Number of units redeemed | -8 500.0000 |
| Number of units outstanding at the end of the period | 548 310.0000 |
| Class | I-X-acc |
| Number of units outstanding at the beginning of the period | 96 676.6320 |
| Number of units issued | 265 896.5750 |
| Number of units redeemed | 0.0000 |
| Number of units outstanding at the end of the period | 362 573.2070 |
| Class | I-X-dist |
| Number of units outstanding at the beginning of the period | 77 599.9850 |
| Number of units issued | 0.0000 |
| Number of units redeemed | -46 299.9850 |
| Number of units outstanding at the end of the period | 31 300.0000 |
| Class | K-B-acc |
| Number of units outstanding at the beginning of the period | 0.0000 |
| Number of units issued | 305 090.2700 |
| Number of units redeemed | 0.0000 |
| Number of units outstanding at the end of the period | 305 090.2700 |
| Class | (EUR hedged) N-acc |
| Number of units outstanding at the beginning of the period | 14 018.7260 |
| Number of units issued | 7 260.1740 |
| Number of units redeemed | -1 472.7730 |
| Number of units outstanding at the end of the period | 19 806.1270 |

UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) Semi-Annual Report as of 30 September 2021
| Class | P-acc |
| --- | --- |
| Number of units outstanding at the beginning of the period | 316 817.3310 |
| Number of units issued | 39 581.8750 |
| Number of units redeemed | -64 017.0540 |
| Number of units outstanding at the end of the period | 292 382.1520 |
| Class | (EUR hedged) P-acc |
| Number of units outstanding at the beginning of the period | 308 087.3580 |
| Number of units issued | 30 476.9410 |
| Number of units redeemed | -30 864.7330 |
| Number of units outstanding at the end of the period | 307 699.5660 |
| Class | (SGD hedged) P-acc |
| Number of units outstanding at the beginning of the period | 6 538.3690 |
| Number of units issued | 712.4660 |
| Number of units redeemed | -1 741.7370 |
| Number of units outstanding at the end of the period | 5 509.0980 |
| Class | (EUR hedged) P-dist |
| Number of units outstanding at the beginning of the period | 60 033.6140 |
| Number of units issued | 8 898.6810 |
| Number of units redeemed | -3 349.8990 |
| Number of units outstanding at the end of the period | 65 582.3960 |
| Class | P-mdist |
| Number of units outstanding at the beginning of the period | 399 283.9970 |
| Number of units issued | 184 953.4810 |
| Number of units redeemed | -175 815.7110 |
| Number of units outstanding at the end of the period | 408 421.7670 |
| Class | (SGD hedged) P-mdist |
| Number of units outstanding at the beginning of the period | 86 224.2390 |
| Number of units issued | 807.8360 |
| Number of units redeemed | -16 070.8880 |
| Number of units outstanding at the end of the period | 70 961.1870 |
| Class | Q-acc |
| Number of units outstanding at the beginning of the period | 181 844.0360 |
| Number of units issued | 46 917.1280 |
| Number of units redeemed | -113 497.1170 |
| Number of units outstanding at the end of the period | 115 264.0470 |
| Class | (EUR hedged) Q-acc |
| Number of units outstanding at the beginning of the period | 233 991.2350 |
| Number of units issued | 134 462.2800 |
| Number of units redeemed | -236 839.8800 |
| Number of units outstanding at the end of the period | 131 613.6350 |
| Class | (EUR hedged) Q-dist |
| Number of units outstanding at the beginning of the period | 678 287.1150 |
| Number of units issued | 79 865.0000 |
| Number of units redeemed | -30 595.0000 |
| Number of units outstanding at the end of the period | 727 557.1150 |
| Class | (GBP hedged) Q-dist |
| Number of units outstanding at the beginning of the period | 5 886.3280 |
| Number of units issued | 5 592.5410 |
| Number of units redeemed | -1 497.4060 |
| Number of units outstanding at the end of the period | 9 981.4630 |
| Class | Q-mdist |
| Number of units outstanding at the beginning of the period | 71 003.9970 |
| Number of units issued | 9 631.9140 |
| Number of units redeemed | -20 835.3490 |
| Number of units outstanding at the end of the period | 59 800.5620 |
| Class | U-X-UKdist-mdist |
| Number of units outstanding at the beginning of the period | 1 192.9870 |
| Number of units issued | 40.0000 |
| Number of units redeemed | 0.0000 |
| Number of units outstanding at the end of the period | 1 232.9870 |

UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) Semi-Annual Report as of 30 September 2021
| Annual Distribution 1 |  |
| --- | --- |
| UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) | Ex-Date | Pay-Date | Currency | Amount per unit |
| (GBP hedged) I-A2-dist | 1.6.2021 | 4.6.2021 | GBP | 1.34 |
| I-X-dist | 1.6.2021 | 4.6.2021 | USD | 6.76 |
| (EUR hedged) P-dist | 1.6.2021 | 4.6.2021 | EUR | 2.33 |
| (EUR hedged) Q-dist | 1.6.2021 | 4.6.2021 | EUR | 2.86 |
| (GBP hedged) Q-dist | 1.6.2021 | 4.6.2021 | GBP | 0.91 |
| Monthly Distribution 1 |  |  |  |  |
| UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) | Ex-Date | Pay-Date | Currency | Amount per unit |
| P-mdist | 15.4.2021 | 20.4.2021 | USD | 0.29 |
| P-mdist | 17.5.2021 | 20.5.2021 | USD | 0.30 |
| P-mdist | 15.6.2021 | 18.6.2021 | USD | 0.30 |
| P-mdist | 15.7.2021 | 20.7.2021 | USD | 0.30 |
| P-mdist | 16.8.2021 | 19.8.2021 | USD | 0.30 |
| P-mdist | 15.9.2021 | 20.9.2021 | USD | 0.30 |
| (SGD hedged) P-mdist | 15.4.2021 | 20.4.2021 | SGD | 0.29 |
| (SGD hedged) P-mdist | 17.5.2021 | 20.5.2021 | SGD | 0.32 |
| (SGD hedged) P-mdist | 15.6.2021 | 18.6.2021 | SGD | 0.32 |
| (SGD hedged) P-mdist | 15.7.2021 | 21.7.2021 | SGD | 0.32 |
| (SGD hedged) P-mdist | 16.8.2021 | 19.8.2021 | SGD | 0.31 |
| (SGD hedged) P-mdist | 15.9.2021 | 20.9.2021 | SGD | 0.32 |
| Q-mdist | 15.4.2021 | 20.4.2021 | USD | 0.32 |
| Q-mdist | 17.5.2021 | 20.5.2021 | USD | 0.33 |
| Q-mdist | 15.6.2021 | 18.6.2021 | USD | 0.33 |
| Q-mdist | 15.7.2021 | 20.7.2021 | USD | 0.33 |
| Q-mdist | 16.8.2021 | 19.8.2021 | USD | 0.33 |
| Q-mdist | 15.9.2021 | 20.9.2021 | USD | 0.33 |
| U-X-UKdist-mdist | 17.5.2021 | 20.5.2021 | USD | 30.95 |
| U-X-UKdist-mdist | 15.6.2021 | 18.6.2021 | USD | 34.04 |
| U-X-UKdist-mdist | 15.7.2021 | 20.7.2021 | USD | 34.86 |
| U-X-UKdist-mdist | 16.8.2021 | 19.8.2021 | USD | 33.65 |
| U-X-UKdist-mdist | 15.9.2021 | 20.9.2021 | USD | 33.72 |
| 1  See note 4 |  |  |  |  |

UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) Semi-Annual Report as of 30 September 2021

## Statement of Investments in Securities and other Net Assets as of 30 September 2021
| 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 |  |  |  |
| USD |  |  |  |
| USD	AIRPORT AUTHORITY-REG-S 1.62500% 21-04.02.31 | 4 600 000.00 | 4 428 632.98 | 0.63 |
| USD	ANTON OILFIELD SERVICES GROUP-REG-S 8.75000% 21-26.01.25 | 3 500 000.00 | 3 377 500.00 | 0.48 |
| USD	AYC FINANCE LTD-REG-S 3.90000% 21-PRP | 11 975 000.00 | 11 528 931.25 | 1.65 |
| USD	BHARTI AIRTEL LTD-REG-S 3.25000% 21-03.06.31 | 1 950 000.00 | 1 938 690.00 | 0.28 |
| USD	CENTRAL CHINA REAL ESTATE-REG-S 7.25000% 19-24.04.23 | 425 000.00 | 282 625.00 | 0.04 |
| USD	CENTRAL CHINA REAL ESTATE-REG-S 7.25000% 20-16.07.24 | 3 600 000.00 | 2 189 925.00 | 0.31 |
| USD	CENTRAL CHINA REAL ESTATE-REG-S 7.65000% 20-27.08.23 | 2 000 000.00 | 1 260 000.00 | 0.18 |
| USD	CHAMPION PATH HOLDINGS-REG-S 4.50000% 21-27.01.26 | 1 750 000.00 | 1 780 261.88 | 0.25 |
| USD	CHINA HUANENG GP HK TREASURY MGT-REG-S 2.60000% 19-10.12.24 | 4 000 000.00 | 4 163 840.00 | 0.60 |
| USD	CHINA OIL AND GAS GROUP LTD-REG-S 4.70000% 21-30.06.26 | 1 400 000.00 | 1 435 000.00 | 0.21 |
| USD	CK HUTCHISON INTERNATIONAL 20 LTD-REG-S 2.50000% 20-08.05.30 | 3 400 000.00 | 3 457 934.94 | 0.49 |
| USD	CLIFFTON LTD-REG-S 6.25000% 21-25.10.25 | 1 350 000.00 | 1 323 000.00 | 0.19 |
| USD	CNAC HK FINBRIDGE CO LTD-REG-S 5.12500% 18-14.03.28 | 1 375 000.00 | 1 568 352.50 | 0.22 |
| USD	CNAC HK FINBRIDGE CO LTD-REG-S 3.87500% 19-19.06.29 | 3 500 000.00 | 3 734 010.00 | 0.53 |
| USD	CNOOC FINANCE 2015 USA LLC 4.37500% 18-02.05.28 | 1 250 000.00 | 1 399 062.50 | 0.20 |
| USD	EASY TACTIC LTD-REG-S 8.12500% 19-11.07.24 | 3 850 000.00 | 2 473 625.00 | 0.35 |
| USD	FANTASIA HOLDINGS GROUP CO LTD-REG-S 12.25000% 19-18.10.22 | 200 000.00 | 66 000.00 | 0.01 |
| USD	FANTASIA HOLDINGS GROUP CO LTD-REG-S 9.25000% 20-28.07.23 | 475 000.00 | 147 805.75 | 0.02 |
| USD	FANTASIA HOLDINGS GROUP CO LTD-REG-S 9.87500% 20-19.10.23 | 2 200 000.00 | 660 000.00 | 0.09 |
| USD	FORTUNE STAR BVI LTD-REG-S 6.85000% 20-02.07.24 | 1 400 000.00 | 1 452 500.00 | 0.21 |
| USD	FORTUNE STAR BVI LTD-REG-S 5.95000% 20-19.10.25 | 2 650 000.00 | 2 696 375.00 | 0.39 |
| USD	GOLDEN WHEEL TIANDI HLDGS CO LTD-REG-S 16.00000% 20-11.07.23 | 2 000 000.00 | 920 600.00 | 0.13 |
| USD	HYUNDAI CAPITAL AMERICA-REG-S 3.50000% 19-02.11.26 | 800 000.00 | 856 778.85 | 0.12 |
| USD	HYUNDAI CAPITAL AMERICA-REG-S 2.65000% 20-10.02.25 | 500 000.00 | 519 361.96 | 0.07 |
| USD	INDOFOOD CBP SUKSES MAKMUR TBK PT-REG-S 4.74500% 21-09.06.51 | 3 375 000.00 | 3 476 621.25 | 0.50 |
| USD	INDOFOOD CBP SUKSES MAKMUR TBK PT-REG-S 3.39800% 21-09.06.31 | 4 300 000.00 | 4 343 473.00 | 0.62 |
| USD	INTERNATIONAL CONT TERM SERV-REG-S 4.75000% 20-17.06.30 | 250 000.00 | 279 656.25 | 0.04 |
| USD	JINGRUI HOLDINGS LTD-REG-S 14.50000% 20-19.02.23 | 200 000.00 | 173 662.50 | 0.02 |
| USD	JMH CO LTD-REG-S 2.50000% 21-09.04.31 | 5 225 000.00 | 5 191 983.90 | 0.74 |
| USD	JSW HYDRO ENERGY LTD-REG-S 4.12500% 21-18.05.31 | 200 000.00 | 198 000.00 | 0.03 |
| USD	KAISA GROUP HOLDINGS LTD-REG-S 10.50000% 20-15.01.25 | 3 250 000.00 | 2 486 250.00 | 0.36 |
| USD	KAISA GROUP HOLDINGS LTD-REG-S 11.25000% 20-16.04.25 | 6 675 000.00 | 5 156 437.50 | 0.74 |
| USD	KOREA NATIONAL OIL CORP-REG-S 2.37500% 21-07.04.31 | 8 400 000.00 | 8 453 340.00 | 1.21 |
| USD	KWG GROUP HOLDINGS LTD-REG-S 6.30000% 20-13.02.26 | 2 675 000.00 | 2 394 125.00 | 0.34 |
| USD	LAI SUN MTN LTD-REG-S 5.00000% 21-28.07.26 | 3 650 000.00 | 3 630 665.58 | 0.52 |
| USD	LAI SUN MTN LTD-REG-S 5.00000% 21-28.07.26 | 4 800 000.00 | 4 773 960.00 | 0.68 |
| USD	LEVC FINANCE LTD-REG-S 1.37500% 21-25.03.24 | 7 512 000.00 | 7 528 692.42 | 1.08 |
| USD	LOGAN GROUP CO LTD-REG-S 4.70000% 21-06.07.26 | 1 700 000.00 | 1 598 000.00 | 0.23 |
| USD	MEGA ADVANCE INVESTMENTS LTD-REG-S 6.37500% 11-12.05.41 | 6 230 000.00 | 8 434 485.50 | 1.21 |
| USD	MEITUAN DIANPING-REG-S 3.05000% 20-28.10.30 | 14 965 000.00 | 13 854 784.06 | 1.98 |
| USD	MELCO RESORTS FINANCE LTD-REG-S 5.75000% 20-21.07.28 | 2 000 000.00 | 2 045 795.40 | 0.29 |
| USD	NEW METRO GLOBAL LTD-REG-S 4.50000% 21-02.05.26 | 7 000 000.00 | 6 422 500.00 | 0.92 |
| USD	ONGC VIDESH VANKORNEFT PTE LTD-REG-S 3.75000% 16-27.07.26 | 300 000.00 | 317 118.75 | 0.05 |
| USD	PAKUWON JATI TBK PT-REG-S 4.87500% 21-29.04.28 | 675 000.00 | 696 642.19 | 0.10 |
| USD	PHILIPPINES, REPUBLIC OF 2.65000% 20-10.12.45 | 6 075 000.00 | 5 551 031.25 | 0.79 |
| USD	POWERLONG REAL ESTATE HOLDINGS-REG-S 6.95000% 19-23.07.23 | 1 800 000.00 | 1 790 212.50 | 0.26 |
| USD	REDSUN PROPERTIES GROUP LTD-REG-S 9.50000% 21-20.09.23 | 3 150 000.00 | 2 962 449.00 | 0.42 |
| USD	RELIANCE INDUSTRIES LTD-REG-S 5.40000% 12-14.02.22 | 2 250 000.00 | 2 282 765.63 | 0.33 |
| USD	RONSHINE CHINA HOLDINGS LTD-REG-S 7.35000% 20-15.12.23 | 3 475 000.00 | 2 432 500.00 | 0.35 |
| USD	SHIMAO PROPERTY HOLDINGS LTD-REG-S 5.20000% 21-16.01.27 | 2 350 000.00 | 2 270 687.50 | 0.32 |
| USD	SHUI ON DEVELOPMENT HOLDINGLT-REG-S 5.50000% 21-29.06.26 | 2 525 000.00 | 2 398 750.00 | 0.34 |
| USD	SINOPEC GRP OVERSEAS DEV LTD-REG-S 2.15000% 20-13.05.25 | 400 000.00 | 408 908.00 | 0.06 |
| USD	SOFTBANK GROUP CORP-REG-S 4.00000% 21-06.07.26 | 4 175 000.00 | 4 101 581.28 | 0.59 |
| USD	SRILANKAN AIRLINES LTD-REG-S 7.00000% 19-25.06.24 | 525 000.00 | 318 379.68 | 0.05 |
| USD	STUDIO CITY FINANCE LTD-REG-S 6.50000% 20-15.01.28 | 2 900 000.00 | 2 863 750.00 | 0.41 |
| USD	SUNAC CHINA HOLDINGS LTD-REG-S 7.00000% 20-09.07.25 | 1 000 000.00 | 797 500.00 | 0.11 |
| USD	TIMES CHINA HOLDINGS LTD-REG-S 6.75000% 20-08.07.25 | 2 000 000.00 | 1 830 000.00 | 0.26 |
| USD	TSMC GLOBAL LTD-REG-S 2.25000% 21-23.04.31 | 9 250 000.00 | 9 218 180.00 | 1.32 |
| USD	VEDANTA RESOURCES PLC-REG-S 6.12500% 17-09.08.24 | 5 500 000.00 | 4 914 937.50 | 0.70 |
| USD	WOORI BANK-REG-S 1.75000% 21-23.03.26 | 2 600 000.00 | 2 592 356.00 | 0.37 |
| USD	WYNN MACAU LTD-REG-S 5.50000% 20-15.01.26 | 650 000.00 | 629 203.64 | 0.09 |
| USD	YANGO JUSTICE INTERNATIONAL LTD-REG-S 7.50000% 20-15.04.24 | 1 675 000.00 | 1 289 750.00 | 0.18 |
| USD	YANGO JUSTICE INTERNATIONAL LTD-REG-S 7.50000% 20-17.02.25 | 275 000.00 | 178 750.00 | 0.03 |
| USD	YUZHOU PROPERTIES CO LTD-REG-S 7.37500% 20-13.01.26 | 6 524 000.00 | 4 371 080.00 | 0.62 |
| USD	ZHENRO PROPERTIES GROUP LTD-REG-S 7.35000% 20-05.02.25 | 2 575 000.00 | 2 214 500.00 | 0.32 |
| Total USD |  | 190 534 277.89 | 27.23 |
| Total Notes, fixed rate |  | 190 534 277.89 | 27.23 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	CHINA DEV BANK FIN LEASING-REG-S-SUB 2.875%/VAR 20-28.09.30 | 8 675 000.00 | 8 779 642.19 | 1.26 |
| USD	GLOBAL LOGISTIC PROPERTIES-REG-S-SUB 4.500%/VAR 21-PRP | 4 150 000.00 | 4 072 187.50 | 0.58 |
| USD	IND & COM BK CHINA MACAU-REG-S-SUB 2.875%/VAR 19-12.09.29 | 2 100 000.00 | 2 167 331.25 | 0.31 |
| USD	OVERSEA-CHINESE BKNG-REG-S-SUB 1.832%/VAR 20-10.09.30 | 17 076 000.00 | 17 017 600.08 | 2.43 |
| Total USD |  | 32 036 761.02 | 4.58 |
| Total Notes, floating rate |  | 32 036 761.02 | 4.58 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AIRPORT AUTHORITY HONG KONG-REG-S 3.45000% 19-21.02.29 | 450 000.00 | 494 221.40 | 0.07 |
| USD	BANK MANDIRI PERSERO TBK PT-REG-S 4.75000% 20-13.05.25 | 3 000 000.00 | 3 314 625.00 | 0.47 |
| USD	BANK MANDIRI PERSERO TBK PT-REG-S 2.00000% 21-19.04.26 | 1 275 000.00 | 1 275 000.00 | 0.18 |
| USD	BANK NEGARA INDONESIA PERSERO-REG-S-SUB 3.75000% 21-30.03.26 | 725 000.00 | 741 392.25 | 0.11 |

UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) Semi-Annual Report as of 30 September 2021
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | BANK OF CHINA LTD/PARIS 0.95000% 20-21.09.23 | 3 750 000.00 | 3 757 462.50 | 0.54 |
| USD | BANK OF CHINA/HONG KONG-REG-S 3.62500% 19-17.04.29 | 3 400 000.00 | 3 719 838.00 | 0.53 |
| USD | BDO UNIBANK INC-REG-S 2.12500% 20-13.01.26 | 3 150 000.00 | 3 228 750.00 | 0.46 |
| USD | BOC AVIATION LTD-REG-S 3.50000% 19-10.10.24 | 4 950 000.00 | 5 259 570.03 | 0.75 |
| USD | BOC AVIATION USA CORP-REG-S 1.62500% 21-29.04.24 | 2 443 000.00 | 2 461 773.26 | 0.35 |
| USD | BOCOM LEASING MGT HONG KONG-REG-S 4.37500% 19-22.01.24 | 950 000.00 | 1 014 006.25 | 0.15 |
| USD | CDBL FUNDING 1-REG-S 3.50000% 20-24.10.27 | 10 008 000.00 | 10 556 238.24 | 1.51 |
| USD | CHINA CONSTRUCTION BANK CORP/HK-REG-S 1.25000% 20-04.08.25 | 3 000 000.00 | 2 978 940.00 | 0.43 |
| USD | CHINA DEVELOPMENT BANK CORP-REG-S 1.00000% 20-27.10.25 | 1 000 000.00 | 985 860.00 | 0.14 |
| USD | CHINA EVERGRANDE GROUP-REG-S 9.50000% 17-29.03.24 | 475 000.00 | 113 346.87 | 0.02 |
| USD | CHINA MERCHANTS FINANCE CO LTD-REG-S 5.00000% 12-04.05.22 | 2 550 000.00 | 2 610 243.75 | 0.37 |
| USD | CHINA OVERSEAS FINAN CAYMAN VIII-REG-S 3.45000% 19-15.07.29 | 2 000 000.00 | 2 086 625.00 | 0.30 |
| USD | CHINA OVERSEAS FINAN CAYMAN VIII-REG-S 2.75000% 20-02.03.30 | 500 000.00 | 496 343.75 | 0.07 |
| USD | CHINA PING AN INSUROVER HOLD LTD-REG-S 2.85000% 21-12.08.31 | 6 650 000.00 | 6 174 721.77 | 0.88 |
| USD | CICC HONG KONG FIN 2016 MTN LTD-REG-S 2.00000% 21-26.01.26 | 1 975 000.00 | 1 957 304.00 | 0.28 |
| USD | CITIC LTD-REG-S 4.00000% 18-11.01.28 | 1 200 000.00 | 1 310 475.00 | 0.19 |
| USD | CMB INTERNATIONAL LEASING MGT LTD-REG-S 2.75000% 20-12.08.30 | 2 550 000.00 | 2 499 478.13 | 0.36 |
| USD | EXPORT IMPORT BANK OF THAILAND-REG-S 1.45700% 20-15.10.25 | 5 425 000.00 | 5 405 578.50 | 0.77 |
| USD | EXPORT-IMPORT BANK OF INDIA-REG-S 2.25000% 21-13.01.31 | 625 000.00 | 583 881.25 | 0.08 |
| USD | FAR EAST HORIZON LTD-REG-S 2.62500% 21-03.03.24 | 6 925 000.00 | 6 932 790.63 | 0.99 |
| USD | GC TREASURY CENTER CO LTD-REG-S 4.30000% 21-18.03.51 | 1 825 000.00 | 1 984 578.00 | 0.28 |
| USD | HONGKONG LAND FINANCE CO LTD-REG-S 2.25000% 21-15.07.31 | 2 525 000.00 | 2 467 180.40 | 0.35 |
| USD | ICBCIL FINANCE CO LTD-REG-S 1.75000% 20-25.08.25 | 1 000 000.00 | 994 562.50 | 0.14 |
| USD | INDIAN RAILWAY FINANCE CORP LTD-REG-S 3.73000% 19-29.03.24 | 8 000 000.00 | 8 454 000.00 | 1.21 |
| USD | INDONESIA, REPUBLIC OF-REG-S 3.85000% 17-18.07.27 | 600 000.00 | 664 987.50 | 0.10 |
| USD | INDONESIA, REPUBLIC OF-REG-S 4.75000% 17-18.07.47 | 525 000.00 | 615 168.75 | 0.09 |
| USD | INDUSTRIAL COMMERCIAL BANK CHINA-REG-S 1.20000% 20-09.09.25 | 3 525 000.00 | 3 491 583.00 | 0.50 |
| USD | NAN FUNG TREASURY LTD-REG-S 3.87500% 17-03.10.27 | 1 450 000.00 | 1 515 953.83 | 0.22 |
| USD | NAN FUNG TREASURY LTD-REG-S 5.00000% 18-05.09.28 | 1 000 000.00 | 1 099 747.50 | 0.16 |
| USD | NWD MTN LTD-REG-S 4.50000% 20-19.05.30 | 2 000 000.00 | 2 042 985.80 | 0.29 |
| USD | PAKISTAN, ISLAMIC REPUBLIC OF-REG-S 7.37500% 21-08.04.31 | 6 000 000.00 | 5 977 500.00 | 0.85 |
| USD | PERTAMINA PT-REG-S 6.45000% 14-30.05.44 | 800 000.00 | 1 039 150.00 | 0.15 |
| USD | PERTAMINA PT-REG-S 6.50000% 18-07.11.48 | 900 000.00 | 1 189 856.25 | 0.17 |
| USD | PETRONAS CAPITAL LTD-REG-S 4.55000% 20-21.04.50 | 1 700 000.00 | 2 075 381.25 | 0.30 |
| USD | PSA TREASURY PTE LTD-REG-S 2.12500% 19-05.09.29 | 2 500 000.00 | 2 530 706.00 | 0.36 |
| USD | PTT TREASURY CENTER CO LTD-REG-S 4.50000% 19-25.10.42 | 2 020 000.00 | 2 248 260.00 | 0.32 |
| USD | REC LTD-REG-S 2.25000% 21-01.09.26 | 4 075 000.00 | 3 970 068.75 | 0.57 |
| USD | REDCO PROPERTIES GROUP LTD-REG-S 9.90000% 20-17.02.24 | 2 050 000.00 | 1 728 790.63 | 0.25 |
| USD | RHB BANK BHD-REG-S 1.65800% 21-29.06.26 | 8 650 000.00 | 8 673 182.00 | 1.24 |
| USD | SHINHAN FIN GROUP CO LTD-REG-S 1.35000% 20-10.01.26 | 5 275 000.00 | 5 236 123.25 | 0.75 |
| USD | SHRIRAM TRANSPORT FINANCE CO LTD-REG-S 5.10000% 20-16.07.23 | 700 000.00 | 711 506.25 | 0.10 |
| USD | SHRIRAM TRANSPORT FINANCE CO LTD-REG-S 4.40000% 21-13.03.24 | 3 675 000.00 | 3 667 650.00 | 0.52 |
| USD | SIAM COMMERCIAL BK CAYMAN ISLAND-REG-S 4.40000% 19-11.02.29 | 225 000.00 | 256 190.63 | 0.04 |
| USD | SINGAPORE AIRLINES LTD-REG-S 3.00000% 21-20.07.26 | 925 000.00 | 945 470.25 | 0.14 |
| USD | SINGAPORE EXCHANGE LTD-REG-S 1.23400% 21-03.09.26 | 4 975 000.00 | 4 947 940.48 | 0.71 |
| USD | SINGTEL GROUP TREASURY PTE LTD-REG-S 3.25000% 15-30.06.25 | 1 000 000.00 | 1 070 189.30 | 0.15 |
| USD | SP GROUP TREASURY PTE LTD-REG-S 3.37500% 19-27.02.29 | 600 000.00 | 657 675.00 | 0.09 |
| USD | SP POWERASSETS LTD-REG-S 3.25000% 15-24.11.25 | 1 000 000.00 | 1 080 869.20 | 0.15 |
| USD | STATE BANK OF INDIA/LONDON-REG-S 1.80000% 21-13.07.26 | 300 000.00 | 297 024.00 | 0.04 |
| USD | STATE GRID OVERSEAS INVESTMENT-REG-S 3.50000% 17-04.05.27 | 2 750 000.00 | 3 005 090.00 | 0.43 |
| USD | STATE GRID OVERSEAS INVESTMENT-REG-S 4.25000% 18-02.05.28 | 2 657 000.00 | 3 023 666.00 | 0.43 |
| USD | SUMITOMO CORP-REG-S 1.55000% 21-06.07.26 | 10 600 000.00 | 10 551 389.56 | 1.51 |
| USD | SUN HUNG KAI PROP CAP MRKT LTD-REG-S 2.87500% 20-21.01.30 | 6 100 000.00 | 6 328 990.95 | 0.90 |
| USD | SUN HUNG KAI PROPERTIES LTD-REG-S 2.75000% 20-13.05.30 | 2 000 000.00 | 2 034 580.00 | 0.29 |
| USD | TEMASEK FINANCIAL I LTD-REG-S 2.50000% 20-06.10.70 | 1 300 000.00 | 1 190 350.85 | 0.17 |
| USD | TENCENT HOLDINGS LTD-REG-S 3.92500% 18-19.01.38 | 1 000 000.00 | 1 062 062.50 | 0.15 |
| USD | WHEELOCK MTN BVI LTD-REG-S 2.37500% 21-25.01.26 | 8 270 000.00 | 8 177 565.13 | 1.17 |
| USD | YES BANK IFSC BANKING UNIT BR-REG-S 3.75000% 18-06.02.23 | 300 000.00 | 296 212.50 | 0.04 |
| Total USD |  |  | 177 262 653.59 | 25.33 |
| Total Medium term notes, fixed rate |  | 177 262 653.59 | 25.33 |
| Medium term notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BANGKOK BANK PCL/HONG KONG-REG-S-SUB 5.000%/VAR 20-PRP | 275 000.00 | 286 653.13 | 0.04 |
| USD	DAH SING BANK LTD-REG-S-SUB 4.250%/VAR 16-30.11.26 | 9 460 000.00 | 9 488 285.40 | 1.36 |
| USD	DBS GROUP HOLDINGS LTD-REG-S-SUB 4.520%/VAR 18-11.12.28 | 1 000 000.00 | 1 072 060.00 | 0.15 |
| USD	KASIKORNBANK PCL-REG-S-SUB 5.275%/VAR 20-PRP | 350 000.00 | 366 034.38 | 0.05 |
| USD	SHINHAN BANK-REG-S-SUB 3.875%/VAR 16-07.12.26 | 2 000 000.00 | 2 009 125.00 | 0.29 |
| USD	SHINHAN FIN GROUP CO LTD-REG-S-SUB 3.340%/VAR 19-05.02.30 | 3 475 000.00 | 3 605 964.06 | 0.52 |
| USD	UNITED OVERSEAS BANK LTD-REG-S-SUB 2.880%/VAR 16-08.03.27 | 830 000.00 | 836 730.89 | 0.12 |
| USD	WING LUNG BANK LTD-REG-S-SUB 3.750%/H15T5Y+175BP 17-22.11.27 | 625 000.00 | 637 914.38 | 0.09 |
| Total USD |  | 18 302 767.24 | 2.62 |
| Total Medium term notes, floating rate |  | 18 302 767.24 | 2.62 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AGILE GROUP HOLDINGS LTD-REG-S 6.05000% 20-13.10.25 | 1 000 000.00 | 937 500.00 | 0.13 |
| USD	AGILE GROUP HOLDINGS LTD-REG-S 5.50000% 21-21.04.25 | 2 250 000.00 | 2 103 750.00 | 0.30 |
| USD	BANK RAKYAT INDONESIA-REG-S 3.95000% 19-28.03.24 | 725 000.00 | 768 579.75 | 0.11 |
| USD	BANK TABUNGAN NEGARA PERSERO-REG-S-SUB 4.20000% 20-23.01.25 | 250 000.00 | 254 715.00 | 0.04 |
| USD	BIM LAND JSC-REG-S 7.37500% 21-07.05.26 | 6 000 000.00 | 5 509 875.00 | 0.79 |
| USD	CENTRAL PLAZA DEVELOPMENT LTD-REG-S 4.65000% 21-19.01.26 | 1 600 000.00 | 1 547 300.00 | 0.22 |
| USD	CHIBA BANK LTD/THE-REG-S 1.35000% 21-08.09.26 | 8 425 000.00 | 8 380 963.11 | 1.20 |
| USD	CHINA AOYUAN PROPERTY GROUP LTD-REG-S 5.88000% 21-01.03.27 | 2 000 000.00 | 1 510 000.00 | 0.22 |
| USD	CHINA EVERGRANDE GROUP-REG-S 7.50000% 17-28.06.23 | 1 100 000.00 | 261 250.00 | 0.04 |
| USD	CHINA EVERGRANDE GROUP-REG-S 8.75000% 17-28.06.25 | 2 500 000.00 | 593 750.00 | 0.08 |
| USD	CMHI FINANCE BVI CO LTD-REG-S 5.00000% 18-06.08.28 | 1 750 000.00 | 1 998 828.13 | 0.29 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 5.12500% 20-14.01.27 | 450 000.00 | 455 568.75 | 0.06 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 5.62500% 20-14.01.30 | 15 600 000.00 | 15 924 675.00 | 2.28 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 5.40000% 20-27.05.25 | 4 000 000.00 | 4 072 000.00 | 0.58 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 4.80000% 20-06.08.30 | 950 000.00 | 942 162.50 | 0.13 |
| USD	EHI CAR SERVICES LTD-REG-S 7.75000% 21-14.11.24 | 3 650 000.00 | 3 650 000.00 | 0.52 |

UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) Semi-Annual Report as of 30 September 2021
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | ENN ENERGY HOLDINGS LTD-REG-S 3.25000% 17-24.07.22 | 2 110 000.00 | 2 140 726.88 | 0.31 |
| USD | FPC RESOURCES LTD-REG-S 4.37500% 20-11.09.27 | 1 175 000.00 | 1 253 431.25 | 0.18 |
| USD | GREENKO DUTCH BV-REG-S 3.85000% 21-29.03.26 | 815 000.00 | 825 340.31 | 0.12 |
| USD | HUTCHISON WHAMPOA INTERNATIONAL14-REG-S 3.62500% 14-31.10.24 | 5 572 000.00 | 6 032 734.75 | 0.86 |
| USD | INDUSTRIAL BANK OF KOREA-REG-S 0.62500% 21-17.09.24 | 8 775 000.00 | 8 756 533.89 | 1.25 |
| USD | KAISA GROUP HOLDINGS LTD-REG-S 9.37500% 17-30.06.24 | 3 000 000.00 | 2 302 500.00 | 0.33 |
| USD | KAISA GROUP HOLDINGS LTD-REG-S 11.70000% 21-11.11.25 | 1 200 000.00 | 909 000.00 | 0.13 |
| USD | KWG GROUP HOLDINGS LTD-REG-S 7.87500% 19-01.09.23 | 1 750 000.00 | 1 688 750.00 | 0.24 |
| USD | LMIRT CAPITAL PTE LTD-REG-S 7.50000% 21-09.02.26 | 3 575 000.00 | 3 673 312.50 | 0.52 |
| USD | LS FINANCE 2017 LTD-REG-S 4.80000% 21-18.06.26 | 4 375 000.00 | 4 232 014.46 | 0.60 |
| USD | MALAYSIA WAKALA SUKUK BHD-REG-S 3.07500% 21-28.04.51 | 1 750 000.00 | 1 776 031.25 | 0.25 |
| USD | MINERA Y METALURGICA DEL BOLEO-REG-S 3.25000% 19-17.04.24 | 1 100 000.00 | 1 160 486.36 | 0.17 |
| USD | MONGOLIA,GOVERNMENT OF-REG-S 4.45000% 21-07.07.31 | 500 000.00 | 483 125.00 | 0.07 |
| USD | NEW METRO GLOBAL LTD-REG-S 4.80000% 20-15.12.24 | 2 150 000.00 | 2 022 182.50 | 0.29 |
| USD | NWD MTN LTD-REG-S 4.12500% 19-18.07.29 | 1 425 000.00 | 1 420 354.50 | 0.20 |
| USD | OIL INDIA LTD-REG-S 5.12500% 19-04.02.29 | 268 000.00 | 299 456.50 | 0.04 |
| USD | PHILIPPINES, REPUBLIC OF THE 3.95000% 15-20.01.40 | 4 625 000.00 | 5 043 562.50 | 0.72 |
| USD | PHILIPPINES, REPUBLIC OF THE 3.70000% 16-01.03.41 | 10 150 000.00 | 10 729 184.37 | 1.53 |
| USD | POWERLONG REAL ESTATE HOLDINGS-REG-S 5.95000% 20-30.04.25 | 500 000.00 | 475 000.00 | 0.07 |
| USD | POWERLONG REAL ESTATE HOLDING LTD-REG-S 4.90000% 21-13.05.26 | 3 000 000.00 | 2 790 000.00 | 0.40 |
| USD | RKPF OVERSEAS 2020 A LTD-REG-S 5.12500% 21-26.07.26 | 4 100 000.00 | 3 690 000.00 | 0.53 |
| USD | SHINHAN CARD CO LTD-REG-S 1.37500% 21-23.06.26 | 3 800 000.00 | 3 746 078.00 | 0.54 |
| USD | SRI LANKA, DEMOCRATIC REP OF-REG-S 6.85000% 15-03.11.25 | 2 500 000.00 | 1 564 531.25 | 0.22 |
| USD | SUNAC CHINA HOLDINGS LTD-REG-S 7.50000% 19-01.02.24 | 3 000 000.00 | 2 437 500.00 | 0.35 |
| USD | SUNAC CHINA HOLDINGS LTD-REG-S 6.50000% 20-10.01.25 | 3 000 000.00 | 2 392 500.00 | 0.34 |
| USD | TALENT YIELD INTERNATIONAL LTD-REG-S 3.12500% 21-06.05.31 | 2 475 000.00 | 2 558 799.29 | 0.37 |
| USD | TSINGHUA UNIC LTD *DEFAULTED*-REG-S 5.37500% 18-31.01.23 | 325 000.00 | 139 100.00 | 0.02 |
| USD | YUZHOU PROPERTIES CO LTD-REG-S 8.30000% 19-27.05.25 | 2 275 000.00 | 1 666 437.50 | 0.24 |
| Total USD |  |  | 125 119 590.30 | 17.88 |
| Total Bonds, fixed rate |  | 125 119 590.30 | 17.88 |
| Bonds, floating rate |  |  |  |
| USD |  |  |  |
| USD	BANK OF COMMUNICATIONS H/K-REG-S 2.304%/VAR 21-08.07.31 | 14 150 000.00 | 13 882 028.72 | 1.98 |
| USD	BANK OF EAST ASIA LTD/THE-REG-S-SUB 5.875%/VAR 19-PRP | 500 000.00 | 516 040.00 | 0.07 |
| USD	CHINA CONSTRUCTION BK CORP-REG-S-SUB 2.450%/VAR 20-24.06.30 | 225 000.00 | 227 650.50 | 0.03 |
| USD	CHINA MINMETALS CORP-REG-S 3.750%/VAR 17-PRP | 250 000.00 | 255 422.50 | 0.04 |
| USD	HUANENG HONG KONG CAPITAL LTD-REG-S 3.600%/VAR 17-PRP | 500 000.00 | 507 945.00 | 0.07 |
| USD	INDUSTRIAL & COMM BK OF CHINA-REG-S 3.200%/VAR 21-PRP | 1 400 000.00 | 1 401 750.00 | 0.20 |
| USD	SINO OCEAN LAND TREASURE-REG-S-SUB 4.900%/VAR 17-PRP | 525 000.00 | 441 000.00 | 0.06 |
| USD	SMC GLOBAL POWER HOLDINGS CORP-REG-S 5.700%/VAR 20-PRP | 675 000.00 | 673 650.00 | 0.10 |
| USD	SMC GLOBAL POWER HOLDINGS CORP-REG-S 7.000%/VAR 20-PRP | 2 575 000.00 | 2 688 139.06 | 0.39 |
| USD	SMC GLOBAL POWER HOLDINGS CORP-REG-S 5.450%/VAR 21-PRP | 8 450 000.00 | 8 365 500.00 | 1.20 |
| Total USD |  | 28 959 125.78 | 4.14 |
| Total Bonds, floating rate |  | 28 959 125.78 | 4.14 |
| Convertible bonds, floating rate |  |  |  |
| USD |  |  |  |
| USD	KRUNG THAI/CAYMAN ISLANDS-REG-S-SUB COCO 4.400%/VAR 21-PRP | 425 000.00 | 423 984.25 | 0.06 |
| Total USD |  | 423 984.25 | 0.06 |
| Total Convertible bonds, floating rate |  | 423 984.25 | 0.06 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 572 639 160.07 | 81.84 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	SMBC AVIATION CAPITAL FINANCE DAC-REG-S 2.30000% 21-15.06.28 | 4 250 000.00 | 4 264 260.96 | 0.61 |
| Total USD |  | 4 264 260.96 | 0.61 |
| Total Notes, fixed rate | 4 264 260.96 | 0.61 |
| Total Transferable securities and money market instruments traded on another regulated market | 4 264 260.96 | 0.61 |
| UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 |  |  |
| Investment funds, open end |  |  |
| Hong Kong |  |  |
| USD	UBS (HK) FUND SERIES - ASIA INCOME BOND (USD)-E USD ACC	1 420.00 | 13 776 223.72 | 1.97 |
| Total Hong Kong | 13 776 223.72 | 1.97 |
| Luxembourg |  |  |
| USD	UBS (LUX) BOND SICAV-ASIAN INVST GRADE BONDS (USD)-U-X-CAP	1 500.00 | 19 407 255.00 | 2.77 |
| USD	UBS (LUX) BOND SICAV - MULTI INCOME (USD)-U-X-ACC- CAP	120.00 | 1 286 820.00 | 0.19 |
| USD	UBS (LUX) BOND SICAV - CHINA HIGH YIELD (USD) U-X-ACC	1 500.00 | 14 158 845.00 | 2.02 |
| Total Luxembourg | 34 852 920.00 | 4.98 |
| Total Investment funds, open end | 48 629 143.72 | 6.95 |
| Total UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 | 48 629 143.72 | 6.95 |
| Total investments in securities | 625 532 564.75 | 89.40 |

UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) Semi-Annual Report as of 30 September 2021
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Derivative instruments |  |  |  |
| Derivative instruments listed on an official stock exchange Financial Futures on bonds |  |  |  |
|  |  |  |  |
| USD	US ULTRA LONG BOND (CBT) FUTURE 21.12.21 | 24.00 | -198 000.00 | -0.03 |
| USD	US 10YR TREASURY NOTE FUTURE 21.12.21 | -369.00 | 412 187.64 | 0.06 |
| USD	US 5YR TREASURY NOTE FUTURE 31.12.21 | -329.00 | 206 828.10 | 0.03 |
| Total Financial Futures on bonds |  | 421 015.74 | 0.06 |
| Total Derivative instruments listed on an official stock exchange |  | 421 015.74 | 0.06 |
| Total Derivative instruments |  | 421 015.74 | 0.06 |
| Forward Foreign Exchange contracts Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date |  |  |  |

| USD | 36 517 631.85 | CNH | 237 350 000.00 | 15.12.2021 | -40 266.80 | -0.01 |
| --- | --- | --- | --- | --- | --- | --- |
| EUR | 163 888 900.00 | USD | 192 313 610.54 | 27.10.2021 | -2 281 900.63 | -0.32 |
| SGD | 13 296 200.00 | USD | 9 864 469.45 | 27.10.2021 | -71 069.96 | -0.01 |
| GBP | 59 300 100.00 | USD | 81 056 553.58 | 27.10.2021 | -1 096 515.48 | -0.16 |
| EUR | 5 341 900.00 | USD | 6 261 216.95 | 27.10.2021 | -67 201.42 | -0.01 |
| USD | 135 535.09 | SGD | 184 400.00 | 27.10.2021 | -285.89 | 0.00 |
| USD | 234 937.68 | GBP | 175 000.00 | 27.10.2021 | -1 031.68 | 0.00 |
| Total Forward Foreign Exchange contracts | -3 558 271.86 | -0.51 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 96 012 882.29 | 13.72 |
| Other assets and liabilities | -18 741 399.67 | -2.67 |
| Total net assets | 699 666 791.25 | 100.00 |

UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) Semi-Annual Report as of 30 September 2021

Translation (ENFR, 2021-09-30):
# UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD)
| Données principales |  |
| --- | --- |
|  | ISIN | 30.9.2021 | 31.3.2021 | 31.3.2020 |
| Actif net en USD |  | 699 666 791.25 | 670 960 500.68 | 239 902 499.64 |
| Catégorie F-acc | LU0464245496 |  |  |  |
| Parts en circulation |  | 327 221.6990 | 328 115.8620 | 217 947.8180 |
| Valeur nette d’inventaire par part en USD |  | 183.98 | 185.35 | 167.72 |
| Prix d’émission et de rachat par part en USD 1 |  | 184.90 | 185.35 | 166.46 |
| Catégorie (EUR hedged) F-acc | LU0464251627 |  |  |  |
| Parts en circulation |  | 117 953.5270 | 122 155.5300 | 37 333.5300 |
| Valeur nette d’inventaire par part en EUR |  | 161.16 | 162.91 | 149.04 |
| Prix d’émission et de rachat par part en EUR 1 |  | 161.97 | 162.91 | 147.92 |
| Catégorie (SGD hedged) F-acc | LU0964819261 |  |  |  |
| Parts en circulation |  | 54 223.8510 | 50 825.0000 | 43 645.7350 |
| Valeur nette d’inventaire par part en SGD |  | 102.90 | 103.62 | 94.01 |
| Prix d’émission et de rachat par part en SGD 1 |  | 103.41 | 103.62 | 93.30 |
| Catégorie I-A1-acc | LU0464245819 |  |  |  |
| Parts en circulation |  | 334 158.8290 | 574 626.2000 | 120 329.5010 |
| Valeur nette d’inventaire par part en USD |  | 159.14 | 160.47 | 145.61 |
| Prix d’émission et de rachat par part en USD 1 |  | 159.94 | 160.47 | 144.52 |
| Catégorie (EUR hedged) I-A1-acc 2 | LU2257650221 |  |  |  |
| Parts en circulation |  | 98 422.4220 | 100.0000 | - |
| Valeur nette d’inventaire par part en EUR |  | 99.15 | 100.28 | - |
| Prix d’émission et de rachat par part en EUR 1 |  | 99.65 | 100.28 | - |
| Catégorie (GBP hedged) I-A2-dist 3 | LU2215770434 |  |  |  |
| Parts en circulation |  | 597 147.1470 | 544 453.3450 | - |
| Valeur nette d’inventaire par part en GBP |  | 99.08 | 101.24 | - |
| Prix d’émission et de rachat par part en GBP 1 |  | 99.58 | 101.24 | - |
| Catégorie I-A3-acc 4 | LU0464246205 |  |  |  |
| Parts en circulation |  | 39 391.8190 | 100.0000 | - |
| Valeur nette d’inventaire par part en USD |  | 98.39 | 99.12 | - |
| Prix d’émission et de rachat par part en USD 1 |  | 98.88 | 99.12 | - |
| Catégorie I-B-acc | LU1881004490 |  |  |  |
| Parts en circulation |  | 548 310.0000 | 490 130.0000 | 184 910.0000 |
| Valeur nette d’inventaire par part en USD |  | 123.79 | 124.49 | 112.33 |
| Prix d’émission et de rachat par part en USD 1 |  | 124.41 | 124.49 | 111.49 |
| Catégorie I-X-acc | LU0464246890 |  |  |  |
| Parts en circulation |  | 362 573.2070 | 96 676.6320 | 5 085.9790 |
| Valeur nette d’inventaire par part en USD |  | 188.24 | 189.19 | 170.51 |
| Prix d’émission et de rachat par part en USD 1 |  | 189.18 | 189.19 | 169.23 |
| Catégorie I-X-dist | LU0464246627 |  |  |  |
| Parts en circulation |  | 31 300.0000 | 77 599.9850 | 97 559.9850 |
| Valeur nette d’inventaire par part en USD |  | 106.85 | 114.08 | 108.29 |
| Prix d’émission et de rachat par part en USD 1 |  | 107.38 | 114.08 | 107.48 |
| Catégorie K-B-acc 5 | LU2333664980 |  |  |  |
| Parts en circulation |  | 305 090.2700 | - | - |
| Valeur nette d’inventaire par part en USD |  | 97.34 | - | - |
| Prix d’émission et de rachat par part en USD 1 |  | 97.83 | - | - |
| Catégorie (EUR hedged) N-acc | LU0464250819 |  |  |  |
| Parts en circulation |  | 19 806.1270 | 14 018.7260 | 8 523.3950 |
| Valeur nette d’inventaire par part en EUR |  | 129.71 | 131.88 | 122.16 |
| Prix d’émission et de rachat par part en EUR 1 |  | 130.36 | 131.88 | 121.24 |
| Catégorie P-acc | LU0464244333 |  |  |  |
| Parts en circulation |  | 292 382.1520 | 316 817.3310 | 308 150.1680 |
| Valeur nette d’inventaire par part en USD |  | 166.17 | 168.13 | 153.78 |
| Prix d’émission et de rachat par part en USD 1 |  | 167.00 | 168.13 | 152.63 |
| Catégorie (EUR hedged) P-acc | LU0464250652 |  |  |  |
| Parts en circulation |  | 307 699.5660 | 308 087.3580 | 178 050.0760 |
| Valeur nette d’inventaire par part en EUR |  | 148.32 | 150.60 | 139.15 |
| Prix d’émission et de rachat par part en EUR 1 |  | 149.06 | 150.60 | 138.11 |
| Catégorie (SGD hedged) P-acc | LU0464247518 |  |  |  |
| Parts en circulation |  | 5 509.0980 | 6 538.3690 | 5 041.7320 |
| Valeur nette d’inventaire par part en SGD |  | 157.87 | 159.68 | 146.31 |
| Prix d’émission et de rachat par part en SGD 1 |  | 158.66 | 159.68 | 145.21 |
| 1  Voir note 1 2  Première VNI 26.11.2020 3  Première VNI 21.10.2020 4  Première VNI 3.3.2021 5  Première VNI 6.7.2021 |  |  |  |  |

UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) Rapport semestriel au 30 septembre 2021
|  | ISIN | 30.9.2021 | 31.3.2021 | 31.3.2020 |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Catégorie (EUR hedged) P-dist | LU0464250496 |  |  |  |
| Parts en circulation |  | 65 582.3960 | 60 033.6140 | 50 145.3160 |
| Valeur nette d’inventaire par part en EUR |  | 102.56 | 106.45 | 101.74 |
| Prix d’émission et de rachat par part en EUR 1 |  | 103.07 | 106.45 | 100.98 |
| Catégorie P-mdist | LU0464244259 |  |  |  |
| Parts en circulation |  | 408 421.7670 | 399 283.9970 | 204 086.5510 |
| Valeur nette d’inventaire par part en USD |  | 97.17 | 100.09 | 94.82 |
| Prix d’émission et de rachat par part en USD 1 |  | 97.66 | 100.09 | 94.11 |
| Catégorie (SGD hedged) P-mdist | LU0464247435 |  |  |  |
| Parts en circulation |  | 70 961.1870 | 86 224.2390 | 65 432.2390 |
| Valeur nette d’inventaire par part en SGD |  | 96.33 | 99.30 | 93.97 |
| Prix d’émission et de rachat par part en SGD 1 |  | 96.81 | 99.30 | 93.27 |
| Catégorie Q-acc | LU0464245652 |  |  |  |
| Parts en circulation |  | 115 264.0470 | 181 844.0360 | 165 684.1910 |
| Valeur nette d’inventaire par part en USD |  | 131.52 | 132.72 | 120.62 |
| Prix d’émission et de rachat par part en USD 1 |  | 132.18 | 132.72 | 119.72 |
| Catégorie (EUR hedged) Q-acc | LU0464251973 |  |  |  |
| Parts en circulation |  | 131 613.6350 | 233 991.2350 | 23 612.6750 |
| Valeur nette d’inventaire par part en EUR |  | 119.30 | 120.82 | 110.93 |
| Prix d’émission et de rachat par part en EUR 1 |  | 119.90 | 120.82 | 110.10 |
| Catégorie (EUR hedged) Q-dist | LU0464251890 |  |  |  |
| Parts en circulation |  | 727 557.1150 | 678 287.1150 | 7 775.4370 |
| Valeur nette d’inventaire par part en EUR |  | 99.79 | 103.90 | 98.62 |
| Prix d’émission et de rachat par part en EUR 1 |  | 100.29 | 103.90 | 97.88 |
| Catégorie (GBP hedged) Q-dist 6 | LU2215770780 |  |  |  |
| Parts en circulation |  | 9 981.4630 | 5 886.3280 | - |
| Valeur nette d’inventaire par part en GBP |  | 99.94 | 101.84 | - |
| Prix d’émission et de rachat par part en GBP 1 |  | 100.44 | 101.84 | - |
| Catégorie Q-mdist | LU0464245579 |  |  |  |
| Parts en circulation |  | 59 800.5620 | 71 003.9970 | 19 425.0830 |
| Valeur nette d’inventaire par part en USD |  | 105.67 | 108.59 | 102.17 |
| Prix d’émission et de rachat par part en USD 1 |  | 106.20 | 108.59 | 101.40 |
| Catégorie U-X-UKdist-mdist | LU1896727721 |  |  |  |
| Parts en circulation |  | 1 232.9870 | 1 192.9870 | 1 311.9870 |
| Valeur nette d’inventaire par part en USD |  | 10 743.32 | 10 962.14 | 10 251.65 |
| Prix d’émission et de rachat par part en USD 1 |  | 10 797.04 | 10 962.14 | 10 174.76 |
| 1  Voir note 1 6  Première VNI 18.9.2020 |  |  |  |  |
| Structure du portefeuille-titres |  |  |  |  |

Répartition géographique en % de l’actif net	
Hong Kong	15.97
Iles Caïmans	15.84
Îles Vierges britanniques	9.89
Chine	7.74
Singapour	6.88
Philippines	5.22
Luxembourg	4.98
Corée du Sud	4.92
Japon	3.29
Inde	3.20
Indonésie	2.63
Malaisie	1.79
Thaïlande	1.49
Pakistan	0.85
Vietnam	0.79
Etats-Unis	0.75
Grande-Bretagne	0.74
Irlande	0.61
France	0.54
Macao	0.40
Sri Lanka	0.27
Ile Maurice	0.19
Mexique	0.16
Pays-Bas	0.12
Mongolie	0.07
Chili	0.07
Répartition économique en % de l’actif net	
Etablissements financiers et sociétés de participation	26.58
Banques & instituts de crédit	15.74
Immobilier	11.00
Fonds de placement	7.31
Gouvernements nationaux et centraux	4.38
Bâtiment et matériaux de construction	4.14
Internet, logiciels et services informatiques	3.88
Distribution d’énergie & d’eau	3.13
Pétrole	2.50
Diverses sociétés commerciales	1.83
Alimentation & softs	1.12
Diverses sociétés non classées	1.11
Chimie	1.08
Services divers	1.01
Trafic et transport	0.93
Industrie minière, charbon et acier	0.91
Assurances	0.88
Villes, communes	0.70
Restauration et loisirs	0.50
Télécommunications	0.28
Machines et appareils	0.22
Industrie graphique, édition et médias	0.15
Electronique et semi-conducteurs	0.02
Total	89.40
Total	89.40
UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) Rapport semestriel au 30 septembre 2021

## Etat des actifs nets
Actif	30.9.2021
USD
Portefeuille-titres, cours d’achat	642 679 823.07
| Portefeuille-titres, plus- (moins-) value non-réalisée | 	-17 147 258.32	 |
| --- | --- |
| Total portefeuille-titres (note 1) | 625 532 564.75 |
| Avoirs en banque, dépôts à vue et à terme | 95 803 862.16 |
| Autres liquidités (marges) | 209 020.13 |
| A recevoir sur souscriptions | 2 273 597.78 |
| Intérêts à recevoir sur titres | 6 285 441.59 |
| Autres créances | 8 417 205.44 |
| Bénéfice non réalisé sur contrats financiers à terme (note 1) | 421 015.74 |
| Total Actif | 738 942 707.59 |
|  |  |
| Passif |  |
| Perte non réalisée sur contrats de change à terme (note 1) | -3 558 271.86 |
| Intérêts à payer sur crédit en compte courant | -6.85 |
| A payer sur achats de titres (note 1) | -33 094 987.68 |
| A payer sur rachats | -2 317 981.32 |
| Provisions pour commission de gestion forfaitaire (note 2) | -188 071.98 |
| Provisions pour taxe d’abonnement (note 3) | -46 309.50 |
| Provisions pour autres commissions et frais (note 2) | 	-70 287.15	 |
| Total des Provisions pour frais | -304 668.63 |
| Total Passif | -39 275 916.34 |
|  |  |
| Actifs nets à la fin de la période | 699 666 791.25 |
| Etat des opérations | USD |
| Revenus | 1.4.2021-30.9.2021 |
| Revenus d’intérêts sur liquidités | 241.82 |
| Intérêts sur titres | 12 982 438.74 |
| Revenus nets sur prêts de titres | 107 092.55 |
| Total des Revenus | 13 089 773.11 |
|  |  |
| Charges |  |
| Commission de gestion forfaitaire (note 2) | -2 461 807.34 |
| Taxe d’abonnement (note 3) | -96 197.35 |
| Autres commissions et frais (note 2) | -71 816.24 |
| Charges d’intérêts sur liquidités et crédit en compte courant | -9 281.72 |
| Autres charges | -21 202.70 |
| Total des Charges | -2 660 305.35 |
|  |  |
| Revenus (Pertes) net(te)s des investissements | 10 429 467.76 |
|  |  |
| Bénéfices (pertes) réalisé(e)s (note 1) |  |
| Bénéfice (perte) réalisé(e) sur titres évalués à la valeur de marché hors options | 5 656 370.43 |
| Bénéfice (perte) réalisé(e) sur contrats financiers à terme | -3 542 647.97 |
| Bénéfice (perte) réalisé(e) sur contrats de change à terme | -6 451 041.39 |
| Bénéfice (perte) réalisé(e) de change réalisé(e) | 286 608.47 |
| Total des Bénéfices (pertes) réalisé(e)s | -4 050 710.46 |
|  |  |
| Bénéfice (perte) net(te) réalisé(e) au cours de la période | 6 378 757.30 |
|  |  |
| Variations des plus- (moins-) values non-réalisées (note 1) |  |
| Plus- (Moins-) value non réalisée sur titres évalués à la valeur de marché hors options | -18 097 462.82 |
| Plus- (Moins-) value non réalisée sur contrats financiers à terme | -605 390.40 |
| Plus- (Moins-) value non réalisée sur contrats de change à terme | -473 850.16 |
| Total des Variations des plus- (moins-) values non-réalisées | -19 176 703.38 |
|  |  |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | -12 797 946.08 |

UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) Rapport semestriel au 30 septembre 2021
| Variations de l’actif net |  |
| --- | --- |
|  | USD |
|  | 1.4.2021-30.9.2021 |
| Actif net au début de la période | 670 960 500.68 |
| Souscriptions | 225 857 085.79 |
| Rachats | 	-179 134 609.83	 |
| Souscriptions (Rachats) net(te)s | 46 722 475.96 |
| Dividendes versés | -5 218 239.31 |
| Revenus (Pertes) net(te)s des investissements | 10 429 467.76 |
| Total des Bénéfices (pertes) réalisé(e)s | -4 050 710.46 |
| Total des Variations des plus- (moins-) values non-réalisées | 	-19 176 703.38	 |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | -12 797 946.08 |
| Actifs nets à la fin de la période | 699 666 791.25 |
| Evolution des parts en circulation |  |
|  | 1.4.2021-30.9.2021 |
| Catégorie | F-acc |
| Nombre de parts en circulation au début de la période | 328 115.8620 |
| Nombre de parts émises | 52 014.6920 |
| Nombre de parts rachetées | -52 908.8550 |
| Nombre de parts en circulation à la fin de la période | 327 221.6990 |
| Catégorie | (EUR hedged) F-acc |
| Nombre de parts en circulation au début de la période | 122 155.5300 |
| Nombre de parts émises | 8 012.9970 |
| Nombre de parts rachetées | -12 215.0000 |
| Nombre de parts en circulation à la fin de la période | 117 953.5270 |
| Catégorie | (SGD hedged) F-acc |
| Nombre de parts en circulation au début de la période | 50 825.0000 |
| Nombre de parts émises | 9 676.1950 |
| Nombre de parts rachetées | -6 277.3440 |
| Nombre de parts en circulation à la fin de la période | 54 223.8510 |
| Catégorie | I-A1-acc |
| Nombre de parts en circulation au début de la période | 574 626.2000 |
| Nombre de parts émises | 164 251.8410 |
| Nombre de parts rachetées | -404 719.2120 |
| Nombre de parts en circulation à la fin de la période | 334 158.8290 |
| Catégorie | (EUR hedged) I-A1-acc |
| Nombre de parts en circulation au début de la période | 100.0000 |
| Nombre de parts émises | 98 422.4220 |
| Nombre de parts rachetées | -100.0000 |
| Nombre de parts en circulation à la fin de la période | 98 422.4220 |
| Catégorie | (GBP hedged) I-A2-dist |
| Nombre de parts en circulation au début de la période | 544 453.3450 |
| Nombre de parts émises | 70 395.1040 |
| Nombre de parts rachetées | -17 701.3020 |
| Nombre de parts en circulation à la fin de la période | 597 147.1470 |
| Catégorie | I-A3-acc |
| Nombre de parts en circulation au début de la période | 100.0000 |
| Nombre de parts émises | 48 132.2230 |
| Nombre de parts rachetées | -8 840.4040 |
| Nombre de parts en circulation à la fin de la période | 39 391.8190 |
| Catégorie | I-B-acc |
| Nombre de parts en circulation au début de la période | 490 130.0000 |
| Nombre de parts émises | 66 680.0000 |
| Nombre de parts rachetées | -8 500.0000 |
| Nombre de parts en circulation à la fin de la période | 548 310.0000 |
| Catégorie | I-X-acc |
| Nombre de parts en circulation au début de la période | 96 676.6320 |
| Nombre de parts émises | 265 896.5750 |
| Nombre de parts rachetées | 0.0000 |
| Nombre de parts en circulation à la fin de la période | 362 573.2070 |
| Catégorie | I-X-dist |
| Nombre de parts en circulation au début de la période | 77 599.9850 |
| Nombre de parts émises | 0.0000 |
| Nombre de parts rachetées | -46 299.9850 |
| Nombre de parts en circulation à la fin de la période | 31 300.0000 |
| Catégorie | K-B-acc |
| Nombre de parts en circulation au début de la période | 0.0000 |
| Nombre de parts émises | 305 090.2700 |
| Nombre de parts rachetées | 0.0000 |
| Nombre de parts en circulation à la fin de la période | 305 090.2700 |
| Catégorie | (EUR hedged) N-acc |
| Nombre de parts en circulation au début de la période | 14 018.7260 |
| Nombre de parts émises | 7 260.1740 |
| Nombre de parts rachetées | -1 472.7730 |
| Nombre de parts en circulation à la fin de la période | 19 806.1270 |

UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) Rapport semestriel au 30 septembre 2021
| Catégorie | P-acc |
| --- | --- |
| Nombre de parts en circulation au début de la période | 316 817.3310 |
| Nombre de parts émises | 39 581.8750 |
| Nombre de parts rachetées | -64 017.0540 |
| Nombre de parts en circulation à la fin de la période | 292 382.1520 |
| Catégorie | (EUR hedged) P-acc |
| Nombre de parts en circulation au début de la période | 308 087.3580 |
| Nombre de parts émises | 30 476.9410 |
| Nombre de parts rachetées | -30 864.7330 |
| Nombre de parts en circulation à la fin de la période | 307 699.5660 |
| Catégorie | (SGD hedged) P-acc |
| Nombre de parts en circulation au début de la période | 6 538.3690 |
| Nombre de parts émises | 712.4660 |
| Nombre de parts rachetées | -1 741.7370 |
| Nombre de parts en circulation à la fin de la période | 5 509.0980 |
| Catégorie | (EUR hedged) P-dist |
| Nombre de parts en circulation au début de la période | 60 033.6140 |
| Nombre de parts émises | 8 898.6810 |
| Nombre de parts rachetées | -3 349.8990 |
| Nombre de parts en circulation à la fin de la période | 65 582.3960 |
| Catégorie | P-mdist |
| Nombre de parts en circulation au début de la période | 399 283.9970 |
| Nombre de parts émises | 184 953.4810 |
| Nombre de parts rachetées | -175 815.7110 |
| Nombre de parts en circulation à la fin de la période | 408 421.7670 |
| Catégorie | (SGD hedged) P-mdist |
| Nombre de parts en circulation au début de la période | 86 224.2390 |
| Nombre de parts émises | 807.8360 |
| Nombre de parts rachetées | -16 070.8880 |
| Nombre de parts en circulation à la fin de la période | 70 961.1870 |
| Catégorie | Q-acc |
| Nombre de parts en circulation au début de la période | 181 844.0360 |
| Nombre de parts émises | 46 917.1280 |
| Nombre de parts rachetées | -113 497.1170 |
| Nombre de parts en circulation à la fin de la période | 115 264.0470 |
| Catégorie | (EUR hedged) Q-acc |
| Nombre de parts en circulation au début de la période | 233 991.2350 |
| Nombre de parts émises | 134 462.2800 |
| Nombre de parts rachetées | -236 839.8800 |
| Nombre de parts en circulation à la fin de la période | 131 613.6350 |
| Catégorie | (EUR hedged) Q-dist |
| Nombre de parts en circulation au début de la période | 678 287.1150 |
| Nombre de parts émises | 79 865.0000 |
| Nombre de parts rachetées | -30 595.0000 |
| Nombre de parts en circulation à la fin de la période | 727 557.1150 |
| Catégorie | (GBP hedged) Q-dist |
| Nombre de parts en circulation au début de la période | 5 886.3280 |
| Nombre de parts émises | 5 592.5410 |
| Nombre de parts rachetées | -1 497.4060 |
| Nombre de parts en circulation à la fin de la période | 9 981.4630 |
| Catégorie | Q-mdist |
| Nombre de parts en circulation au début de la période | 71 003.9970 |
| Nombre de parts émises | 9 631.9140 |
| Nombre de parts rachetées | -20 835.3490 |
| Nombre de parts en circulation à la fin de la période | 59 800.5620 |
| Catégorie | U-X-UKdist-mdist |
| Nombre de parts en circulation au début de la période | 1 192.9870 |
| Nombre de parts émises | 40.0000 |
| Nombre de parts rachetées | 0.0000 |
| Nombre de parts en circulation à la fin de la période | 1 232.9870 |

UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) Rapport semestriel au 30 septembre 2021
| Distribution annuelle 1 |  |
| --- | --- |
| UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) | Date de détachement | Date de versement | Devise | Montant par part |
| (GBP hedged) I-A2-dist | 1.6.2021 | 4.6.2021 | GBP | 1.34 |
| I-X-dist | 1.6.2021 | 4.6.2021 | USD | 6.76 |
| (EUR hedged) P-dist | 1.6.2021 | 4.6.2021 | EUR | 2.33 |
| (EUR hedged) Q-dist | 1.6.2021 | 4.6.2021 | EUR | 2.86 |
| (GBP hedged) Q-dist | 1.6.2021 | 4.6.2021 | GBP | 0.91 |
| Distribution mensuelle 1 |  |  |  |  |
| UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) | Date de détachement | Date de versement | Devise | Montant par part |
| P-mdist | 15.4.2021 | 20.4.2021 | USD | 0.29 |
| P-mdist | 17.5.2021 | 20.5.2021 | USD | 0.30 |
| P-mdist | 15.6.2021 | 18.6.2021 | USD | 0.30 |
| P-mdist | 15.7.2021 | 20.7.2021 | USD | 0.30 |
| P-mdist | 16.8.2021 | 19.8.2021 | USD | 0.30 |
| P-mdist | 15.9.2021 | 20.9.2021 | USD | 0.30 |
| (SGD hedged) P-mdist | 15.4.2021 | 20.4.2021 | SGD | 0.29 |
| (SGD hedged) P-mdist | 17.5.2021 | 20.5.2021 | SGD | 0.32 |
| (SGD hedged) P-mdist | 15.6.2021 | 18.6.2021 | SGD | 0.32 |
| (SGD hedged) P-mdist | 15.7.2021 | 21.7.2021 | SGD | 0.32 |
| (SGD hedged) P-mdist | 16.8.2021 | 19.8.2021 | SGD | 0.31 |
| (SGD hedged) P-mdist | 15.9.2021 | 20.9.2021 | SGD | 0.32 |
| Q-mdist | 15.4.2021 | 20.4.2021 | USD | 0.32 |
| Q-mdist | 17.5.2021 | 20.5.2021 | USD | 0.33 |
| Q-mdist | 15.6.2021 | 18.6.2021 | USD | 0.33 |
| Q-mdist | 15.7.2021 | 20.7.2021 | USD | 0.33 |
| Q-mdist | 16.8.2021 | 19.8.2021 | USD | 0.33 |
| Q-mdist | 15.9.2021 | 20.9.2021 | USD | 0.33 |
| U-X-UKdist-mdist | 17.5.2021 | 20.5.2021 | USD | 30.95 |
| U-X-UKdist-mdist | 15.6.2021 | 18.6.2021 | USD | 34.04 |
| U-X-UKdist-mdist | 15.7.2021 | 20.7.2021 | USD | 34.86 |
| U-X-UKdist-mdist | 16.8.2021 | 19.8.2021 | USD | 33.65 |
| U-X-UKdist-mdist | 15.9.2021 | 20.9.2021 | USD | 33.72 |
| 1  Voir note 4 |  |  |  |  |

UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) Rapport semestriel au 30 septembre 2021

## Etat du portefeuille-titres et autres actifs nets au 30 septembre 2021
| Dénomination | Quantité/ | Evaluation en USD | en % |
| --- | --- | --- | --- |
|  | Nominal | Plus- (Moins-) value non- | des |
|  |  | réalisée sur Futures/ | actifs |
|  |  | Contrats de | nets |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
| Titres et instruments du marché monétaire négociés sur une bourse officielle |  |  |  |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AIRPORT AUTHORITY-REG-S 1.62500% 21-04.02.31 | 4 600 000.00 | 4 428 632.98 | 0.63 |
| USD	ANTON OILFIELD SERVICES GROUP-REG-S 8.75000% 21-26.01.25 | 3 500 000.00 | 3 377 500.00 | 0.48 |
| USD	AYC FINANCE LTD-REG-S 3.90000% 21-PRP | 11 975 000.00 | 11 528 931.25 | 1.65 |
| USD	BHARTI AIRTEL LTD-REG-S 3.25000% 21-03.06.31 | 1 950 000.00 | 1 938 690.00 | 0.28 |
| USD	CENTRAL CHINA REAL ESTATE-REG-S 7.25000% 19-24.04.23 | 425 000.00 | 282 625.00 | 0.04 |
| USD	CENTRAL CHINA REAL ESTATE-REG-S 7.25000% 20-16.07.24 | 3 600 000.00 | 2 189 925.00 | 0.31 |
| USD	CENTRAL CHINA REAL ESTATE-REG-S 7.65000% 20-27.08.23 | 2 000 000.00 | 1 260 000.00 | 0.18 |
| USD	CHAMPION PATH HOLDINGS-REG-S 4.50000% 21-27.01.26 | 1 750 000.00 | 1 780 261.88 | 0.25 |
| USD	CHINA HUANENG GP HK TREASURY MGT-REG-S 2.60000% 19-10.12.24 | 4 000 000.00 | 4 163 840.00 | 0.60 |
| USD	CHINA OIL AND GAS GROUP LTD-REG-S 4.70000% 21-30.06.26 | 1 400 000.00 | 1 435 000.00 | 0.21 |
| USD	CK HUTCHISON INTERNATIONAL 20 LTD-REG-S 2.50000% 20-08.05.30 | 3 400 000.00 | 3 457 934.94 | 0.49 |
| USD	CLIFFTON LTD-REG-S 6.25000% 21-25.10.25 | 1 350 000.00 | 1 323 000.00 | 0.19 |
| USD	CNAC HK FINBRIDGE CO LTD-REG-S 5.12500% 18-14.03.28 | 1 375 000.00 | 1 568 352.50 | 0.22 |
| USD	CNAC HK FINBRIDGE CO LTD-REG-S 3.87500% 19-19.06.29 | 3 500 000.00 | 3 734 010.00 | 0.53 |
| USD	CNOOC FINANCE 2015 USA LLC 4.37500% 18-02.05.28 | 1 250 000.00 | 1 399 062.50 | 0.20 |
| USD	EASY TACTIC LTD-REG-S 8.12500% 19-11.07.24 | 3 850 000.00 | 2 473 625.00 | 0.35 |
| USD	FANTASIA HOLDINGS GROUP CO LTD-REG-S 12.25000% 19-18.10.22 | 200 000.00 | 66 000.00 | 0.01 |
| USD	FANTASIA HOLDINGS GROUP CO LTD-REG-S 9.25000% 20-28.07.23 | 475 000.00 | 147 805.75 | 0.02 |
| USD	FANTASIA HOLDINGS GROUP CO LTD-REG-S 9.87500% 20-19.10.23 | 2 200 000.00 | 660 000.00 | 0.09 |
| USD	FORTUNE STAR BVI LTD-REG-S 6.85000% 20-02.07.24 | 1 400 000.00 | 1 452 500.00 | 0.21 |
| USD	FORTUNE STAR BVI LTD-REG-S 5.95000% 20-19.10.25 | 2 650 000.00 | 2 696 375.00 | 0.39 |
| USD	GOLDEN WHEEL TIANDI HLDGS CO LTD-REG-S 16.00000% 20-11.07.23 | 2 000 000.00 | 920 600.00 | 0.13 |
| USD	HYUNDAI CAPITAL AMERICA-REG-S 3.50000% 19-02.11.26 | 800 000.00 | 856 778.85 | 0.12 |
| USD	HYUNDAI CAPITAL AMERICA-REG-S 2.65000% 20-10.02.25 | 500 000.00 | 519 361.96 | 0.07 |
| USD	INDOFOOD CBP SUKSES MAKMUR TBK PT-REG-S 4.74500% 21-09.06.51 | 3 375 000.00 | 3 476 621.25 | 0.50 |
| USD	INDOFOOD CBP SUKSES MAKMUR TBK PT-REG-S 3.39800% 21-09.06.31 | 4 300 000.00 | 4 343 473.00 | 0.62 |
| USD	INTERNATIONAL CONT TERM SERV-REG-S 4.75000% 20-17.06.30 | 250 000.00 | 279 656.25 | 0.04 |
| USD	JINGRUI HOLDINGS LTD-REG-S 14.50000% 20-19.02.23 | 200 000.00 | 173 662.50 | 0.02 |
| USD	JMH CO LTD-REG-S 2.50000% 21-09.04.31 | 5 225 000.00 | 5 191 983.90 | 0.74 |
| USD	JSW HYDRO ENERGY LTD-REG-S 4.12500% 21-18.05.31 | 200 000.00 | 198 000.00 | 0.03 |
| USD	KAISA GROUP HOLDINGS LTD-REG-S 10.50000% 20-15.01.25 | 3 250 000.00 | 2 486 250.00 | 0.36 |
| USD	KAISA GROUP HOLDINGS LTD-REG-S 11.25000% 20-16.04.25 | 6 675 000.00 | 5 156 437.50 | 0.74 |
| USD	KOREA NATIONAL OIL CORP-REG-S 2.37500% 21-07.04.31 | 8 400 000.00 | 8 453 340.00 | 1.21 |
| USD	KWG GROUP HOLDINGS LTD-REG-S 6.30000% 20-13.02.26 | 2 675 000.00 | 2 394 125.00 | 0.34 |
| USD	LAI SUN MTN LTD-REG-S 5.00000% 21-28.07.26 | 3 650 000.00 | 3 630 665.58 | 0.52 |
| USD	LAI SUN MTN LTD-REG-S 5.00000% 21-28.07.26 | 4 800 000.00 | 4 773 960.00 | 0.68 |
| USD	LEVC FINANCE LTD-REG-S 1.37500% 21-25.03.24 | 7 512 000.00 | 7 528 692.42 | 1.08 |
| USD	LOGAN GROUP CO LTD-REG-S 4.70000% 21-06.07.26 | 1 700 000.00 | 1 598 000.00 | 0.23 |
| USD	MEGA ADVANCE INVESTMENTS LTD-REG-S 6.37500% 11-12.05.41 | 6 230 000.00 | 8 434 485.50 | 1.21 |
| USD	MEITUAN DIANPING-REG-S 3.05000% 20-28.10.30 | 14 965 000.00 | 13 854 784.06 | 1.98 |
| USD	MELCO RESORTS FINANCE LTD-REG-S 5.75000% 20-21.07.28 | 2 000 000.00 | 2 045 795.40 | 0.29 |
| USD	NEW METRO GLOBAL LTD-REG-S 4.50000% 21-02.05.26 | 7 000 000.00 | 6 422 500.00 | 0.92 |
| USD	ONGC VIDESH VANKORNEFT PTE LTD-REG-S 3.75000% 16-27.07.26 | 300 000.00 | 317 118.75 | 0.05 |
| USD	PAKUWON JATI TBK PT-REG-S 4.87500% 21-29.04.28 | 675 000.00 | 696 642.19 | 0.10 |
| USD	PHILIPPINES, REPUBLIC OF 2.65000% 20-10.12.45 | 6 075 000.00 | 5 551 031.25 | 0.79 |
| USD	POWERLONG REAL ESTATE HOLDINGS-REG-S 6.95000% 19-23.07.23 | 1 800 000.00 | 1 790 212.50 | 0.26 |
| USD	REDSUN PROPERTIES GROUP LTD-REG-S 9.50000% 21-20.09.23 | 3 150 000.00 | 2 962 449.00 | 0.42 |
| USD	RELIANCE INDUSTRIES LTD-REG-S 5.40000% 12-14.02.22 | 2 250 000.00 | 2 282 765.63 | 0.33 |
| USD	RONSHINE CHINA HOLDINGS LTD-REG-S 7.35000% 20-15.12.23 | 3 475 000.00 | 2 432 500.00 | 0.35 |
| USD	SHIMAO PROPERTY HOLDINGS LTD-REG-S 5.20000% 21-16.01.27 | 2 350 000.00 | 2 270 687.50 | 0.32 |
| USD	SHUI ON DEVELOPMENT HOLDINGLT-REG-S 5.50000% 21-29.06.26 | 2 525 000.00 | 2 398 750.00 | 0.34 |
| USD	SINOPEC GRP OVERSEAS DEV LTD-REG-S 2.15000% 20-13.05.25 | 400 000.00 | 408 908.00 | 0.06 |
| USD	SOFTBANK GROUP CORP-REG-S 4.00000% 21-06.07.26 | 4 175 000.00 | 4 101 581.28 | 0.59 |
| USD	SRILANKAN AIRLINES LTD-REG-S 7.00000% 19-25.06.24 | 525 000.00 | 318 379.68 | 0.05 |
| USD	STUDIO CITY FINANCE LTD-REG-S 6.50000% 20-15.01.28 | 2 900 000.00 | 2 863 750.00 | 0.41 |
| USD	SUNAC CHINA HOLDINGS LTD-REG-S 7.00000% 20-09.07.25 | 1 000 000.00 | 797 500.00 | 0.11 |
| USD	TIMES CHINA HOLDINGS LTD-REG-S 6.75000% 20-08.07.25 | 2 000 000.00 | 1 830 000.00 | 0.26 |
| USD	TSMC GLOBAL LTD-REG-S 2.25000% 21-23.04.31 | 9 250 000.00 | 9 218 180.00 | 1.32 |
| USD	VEDANTA RESOURCES PLC-REG-S 6.12500% 17-09.08.24 | 5 500 000.00 | 4 914 937.50 | 0.70 |
| USD	WOORI BANK-REG-S 1.75000% 21-23.03.26 | 2 600 000.00 | 2 592 356.00 | 0.37 |
| USD	WYNN MACAU LTD-REG-S 5.50000% 20-15.01.26 | 650 000.00 | 629 203.64 | 0.09 |
| USD	YANGO JUSTICE INTERNATIONAL LTD-REG-S 7.50000% 20-15.04.24 | 1 675 000.00 | 1 289 750.00 | 0.18 |
| USD	YANGO JUSTICE INTERNATIONAL LTD-REG-S 7.50000% 20-17.02.25 | 275 000.00 | 178 750.00 | 0.03 |
| USD	YUZHOU PROPERTIES CO LTD-REG-S 7.37500% 20-13.01.26 | 6 524 000.00 | 4 371 080.00 | 0.62 |
| USD	ZHENRO PROPERTIES GROUP LTD-REG-S 7.35000% 20-05.02.25 | 2 575 000.00 | 2 214 500.00 | 0.32 |
| Total USD |  | 190 534 277.89 | 27.23 |
| Total des Billets, taux fixe |  | 190 534 277.89 | 27.23 |
| Billets, taux variable |  |  |  |
| USD |  |  |  |
| USD	CHINA DEV BANK FIN LEASING-REG-S-SUB 2.875%/VAR 20-28.09.30 | 8 675 000.00 | 8 779 642.19 | 1.26 |
| USD	GLOBAL LOGISTIC PROPERTIES-REG-S-SUB 4.500%/VAR 21-PRP | 4 150 000.00 | 4 072 187.50 | 0.58 |
| USD	IND & COM BK CHINA MACAU-REG-S-SUB 2.875%/VAR 19-12.09.29 | 2 100 000.00 | 2 167 331.25 | 0.31 |
| USD	OVERSEA-CHINESE BKNG-REG-S-SUB 1.832%/VAR 20-10.09.30 | 17 076 000.00 | 17 017 600.08 | 2.43 |
| Total USD |  | 32 036 761.02 | 4.58 |
| Total des Billets, taux variable |  | 32 036 761.02 | 4.58 |
| Medium-Term Notes, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AIRPORT AUTHORITY HONG KONG-REG-S 3.45000% 19-21.02.29 | 450 000.00 | 494 221.40 | 0.07 |
| USD	BANK MANDIRI PERSERO TBK PT-REG-S 4.75000% 20-13.05.25 | 3 000 000.00 | 3 314 625.00 | 0.47 |
| USD	BANK MANDIRI PERSERO TBK PT-REG-S 2.00000% 21-19.04.26 | 1 275 000.00 | 1 275 000.00 | 0.18 |
| USD	BANK NEGARA INDONESIA PERSERO-REG-S-SUB 3.75000% 21-30.03.26 | 725 000.00 | 741 392.25 | 0.11 |

UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) Rapport semestriel au 30 septembre 2021
|  | Dénomination | Quantité/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Plus- (Moins-) value non- | des |
|  |  | réalisée sur Futures/ | actifs |
|  |  | Contrats de | nets |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| USD | BANK OF CHINA LTD/PARIS 0.95000% 20-21.09.23 | 3 750 000.00 | 3 757 462.50 | 0.54 |
| USD | BANK OF CHINA/HONG KONG-REG-S 3.62500% 19-17.04.29 | 3 400 000.00 | 3 719 838.00 | 0.53 |
| USD | BDO UNIBANK INC-REG-S 2.12500% 20-13.01.26 | 3 150 000.00 | 3 228 750.00 | 0.46 |
| USD | BOC AVIATION LTD-REG-S 3.50000% 19-10.10.24 | 4 950 000.00 | 5 259 570.03 | 0.75 |
| USD | BOC AVIATION USA CORP-REG-S 1.62500% 21-29.04.24 | 2 443 000.00 | 2 461 773.26 | 0.35 |
| USD | BOCOM LEASING MGT HONG KONG-REG-S 4.37500% 19-22.01.24 | 950 000.00 | 1 014 006.25 | 0.15 |
| USD | CDBL FUNDING 1-REG-S 3.50000% 20-24.10.27 | 10 008 000.00 | 10 556 238.24 | 1.51 |
| USD | CHINA CONSTRUCTION BANK CORP/HK-REG-S 1.25000% 20-04.08.25 | 3 000 000.00 | 2 978 940.00 | 0.43 |
| USD | CHINA DEVELOPMENT BANK CORP-REG-S 1.00000% 20-27.10.25 | 1 000 000.00 | 985 860.00 | 0.14 |
| USD | CHINA EVERGRANDE GROUP-REG-S 9.50000% 17-29.03.24 | 475 000.00 | 113 346.87 | 0.02 |
| USD | CHINA MERCHANTS FINANCE CO LTD-REG-S 5.00000% 12-04.05.22 | 2 550 000.00 | 2 610 243.75 | 0.37 |
| USD | CHINA OVERSEAS FINAN CAYMAN VIII-REG-S 3.45000% 19-15.07.29 | 2 000 000.00 | 2 086 625.00 | 0.30 |
| USD | CHINA OVERSEAS FINAN CAYMAN VIII-REG-S 2.75000% 20-02.03.30 | 500 000.00 | 496 343.75 | 0.07 |
| USD | CHINA PING AN INSUROVER HOLD LTD-REG-S 2.85000% 21-12.08.31 | 6 650 000.00 | 6 174 721.77 | 0.88 |
| USD | CICC HONG KONG FIN 2016 MTN LTD-REG-S 2.00000% 21-26.01.26 | 1 975 000.00 | 1 957 304.00 | 0.28 |
| USD | CITIC LTD-REG-S 4.00000% 18-11.01.28 | 1 200 000.00 | 1 310 475.00 | 0.19 |
| USD | CMB INTERNATIONAL LEASING MGT LTD-REG-S 2.75000% 20-12.08.30 | 2 550 000.00 | 2 499 478.13 | 0.36 |
| USD | EXPORT IMPORT BANK OF THAILAND-REG-S 1.45700% 20-15.10.25 | 5 425 000.00 | 5 405 578.50 | 0.77 |
| USD | EXPORT-IMPORT BANK OF INDIA-REG-S 2.25000% 21-13.01.31 | 625 000.00 | 583 881.25 | 0.08 |
| USD | FAR EAST HORIZON LTD-REG-S 2.62500% 21-03.03.24 | 6 925 000.00 | 6 932 790.63 | 0.99 |
| USD | GC TREASURY CENTER CO LTD-REG-S 4.30000% 21-18.03.51 | 1 825 000.00 | 1 984 578.00 | 0.28 |
| USD | HONGKONG LAND FINANCE CO LTD-REG-S 2.25000% 21-15.07.31 | 2 525 000.00 | 2 467 180.40 | 0.35 |
| USD | ICBCIL FINANCE CO LTD-REG-S 1.75000% 20-25.08.25 | 1 000 000.00 | 994 562.50 | 0.14 |
| USD | INDIAN RAILWAY FINANCE CORP LTD-REG-S 3.73000% 19-29.03.24 | 8 000 000.00 | 8 454 000.00 | 1.21 |
| USD | INDONESIA, REPUBLIC OF-REG-S 3.85000% 17-18.07.27 | 600 000.00 | 664 987.50 | 0.10 |
| USD | INDONESIA, REPUBLIC OF-REG-S 4.75000% 17-18.07.47 | 525 000.00 | 615 168.75 | 0.09 |
| USD | INDUSTRIAL COMMERCIAL BANK CHINA-REG-S 1.20000% 20-09.09.25 | 3 525 000.00 | 3 491 583.00 | 0.50 |
| USD | NAN FUNG TREASURY LTD-REG-S 3.87500% 17-03.10.27 | 1 450 000.00 | 1 515 953.83 | 0.22 |
| USD | NAN FUNG TREASURY LTD-REG-S 5.00000% 18-05.09.28 | 1 000 000.00 | 1 099 747.50 | 0.16 |
| USD | NWD MTN LTD-REG-S 4.50000% 20-19.05.30 | 2 000 000.00 | 2 042 985.80 | 0.29 |
| USD | PAKISTAN, ISLAMIC REPUBLIC OF-REG-S 7.37500% 21-08.04.31 | 6 000 000.00 | 5 977 500.00 | 0.85 |
| USD | PERTAMINA PT-REG-S 6.45000% 14-30.05.44 | 800 000.00 | 1 039 150.00 | 0.15 |
| USD | PERTAMINA PT-REG-S 6.50000% 18-07.11.48 | 900 000.00 | 1 189 856.25 | 0.17 |
| USD | PETRONAS CAPITAL LTD-REG-S 4.55000% 20-21.04.50 | 1 700 000.00 | 2 075 381.25 | 0.30 |
| USD | PSA TREASURY PTE LTD-REG-S 2.12500% 19-05.09.29 | 2 500 000.00 | 2 530 706.00 | 0.36 |
| USD | PTT TREASURY CENTER CO LTD-REG-S 4.50000% 19-25.10.42 | 2 020 000.00 | 2 248 260.00 | 0.32 |
| USD | REC LTD-REG-S 2.25000% 21-01.09.26 | 4 075 000.00 | 3 970 068.75 | 0.57 |
| USD | REDCO PROPERTIES GROUP LTD-REG-S 9.90000% 20-17.02.24 | 2 050 000.00 | 1 728 790.63 | 0.25 |
| USD | RHB BANK BHD-REG-S 1.65800% 21-29.06.26 | 8 650 000.00 | 8 673 182.00 | 1.24 |
| USD | SHINHAN FIN GROUP CO LTD-REG-S 1.35000% 20-10.01.26 | 5 275 000.00 | 5 236 123.25 | 0.75 |
| USD | SHRIRAM TRANSPORT FINANCE CO LTD-REG-S 5.10000% 20-16.07.23 | 700 000.00 | 711 506.25 | 0.10 |
| USD | SHRIRAM TRANSPORT FINANCE CO LTD-REG-S 4.40000% 21-13.03.24 | 3 675 000.00 | 3 667 650.00 | 0.52 |
| USD | SIAM COMMERCIAL BK CAYMAN ISLAND-REG-S 4.40000% 19-11.02.29 | 225 000.00 | 256 190.63 | 0.04 |
| USD | SINGAPORE AIRLINES LTD-REG-S 3.00000% 21-20.07.26 | 925 000.00 | 945 470.25 | 0.14 |
| USD | SINGAPORE EXCHANGE LTD-REG-S 1.23400% 21-03.09.26 | 4 975 000.00 | 4 947 940.48 | 0.71 |
| USD | SINGTEL GROUP TREASURY PTE LTD-REG-S 3.25000% 15-30.06.25 | 1 000 000.00 | 1 070 189.30 | 0.15 |
| USD | SP GROUP TREASURY PTE LTD-REG-S 3.37500% 19-27.02.29 | 600 000.00 | 657 675.00 | 0.09 |
| USD | SP POWERASSETS LTD-REG-S 3.25000% 15-24.11.25 | 1 000 000.00 | 1 080 869.20 | 0.15 |
| USD | STATE BANK OF INDIA/LONDON-REG-S 1.80000% 21-13.07.26 | 300 000.00 | 297 024.00 | 0.04 |
| USD | STATE GRID OVERSEAS INVESTMENT-REG-S 3.50000% 17-04.05.27 | 2 750 000.00 | 3 005 090.00 | 0.43 |
| USD | STATE GRID OVERSEAS INVESTMENT-REG-S 4.25000% 18-02.05.28 | 2 657 000.00 | 3 023 666.00 | 0.43 |
| USD | SUMITOMO CORP-REG-S 1.55000% 21-06.07.26 | 10 600 000.00 | 10 551 389.56 | 1.51 |
| USD | SUN HUNG KAI PROP CAP MRKT LTD-REG-S 2.87500% 20-21.01.30 | 6 100 000.00 | 6 328 990.95 | 0.90 |
| USD | SUN HUNG KAI PROPERTIES LTD-REG-S 2.75000% 20-13.05.30 | 2 000 000.00 | 2 034 580.00 | 0.29 |
| USD | TEMASEK FINANCIAL I LTD-REG-S 2.50000% 20-06.10.70 | 1 300 000.00 | 1 190 350.85 | 0.17 |
| USD | TENCENT HOLDINGS LTD-REG-S 3.92500% 18-19.01.38 | 1 000 000.00 | 1 062 062.50 | 0.15 |
| USD | WHEELOCK MTN BVI LTD-REG-S 2.37500% 21-25.01.26 | 8 270 000.00 | 8 177 565.13 | 1.17 |
| USD | YES BANK IFSC BANKING UNIT BR-REG-S 3.75000% 18-06.02.23 | 300 000.00 | 296 212.50 | 0.04 |
| Total USD |  |  | 177 262 653.59 | 25.33 |
| Total des Medium-Term Notes, taux fixe |  | 177 262 653.59 | 25.33 |
| Medium-Term Notes, taux variable |  |  |  |
| USD |  |  |  |
| USD	BANGKOK BANK PCL/HONG KONG-REG-S-SUB 5.000%/VAR 20-PRP | 275 000.00 | 286 653.13 | 0.04 |
| USD	DAH SING BANK LTD-REG-S-SUB 4.250%/VAR 16-30.11.26 | 9 460 000.00 | 9 488 285.40 | 1.36 |
| USD	DBS GROUP HOLDINGS LTD-REG-S-SUB 4.520%/VAR 18-11.12.28 | 1 000 000.00 | 1 072 060.00 | 0.15 |
| USD	KASIKORNBANK PCL-REG-S-SUB 5.275%/VAR 20-PRP | 350 000.00 | 366 034.38 | 0.05 |
| USD	SHINHAN BANK-REG-S-SUB 3.875%/VAR 16-07.12.26 | 2 000 000.00 | 2 009 125.00 | 0.29 |
| USD	SHINHAN FIN GROUP CO LTD-REG-S-SUB 3.340%/VAR 19-05.02.30 | 3 475 000.00 | 3 605 964.06 | 0.52 |
| USD	UNITED OVERSEAS BANK LTD-REG-S-SUB 2.880%/VAR 16-08.03.27 | 830 000.00 | 836 730.89 | 0.12 |
| USD	WING LUNG BANK LTD-REG-S-SUB 3.750%/H15T5Y+175BP 17-22.11.27 | 625 000.00 | 637 914.38 | 0.09 |
| Total USD |  | 18 302 767.24 | 2.62 |
| Total des Medium-Term Notes, taux variable |  | 18 302 767.24 | 2.62 |
| Obligations, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AGILE GROUP HOLDINGS LTD-REG-S 6.05000% 20-13.10.25 | 1 000 000.00 | 937 500.00 | 0.13 |
| USD	AGILE GROUP HOLDINGS LTD-REG-S 5.50000% 21-21.04.25 | 2 250 000.00 | 2 103 750.00 | 0.30 |
| USD	BANK RAKYAT INDONESIA-REG-S 3.95000% 19-28.03.24 | 725 000.00 | 768 579.75 | 0.11 |
| USD	BANK TABUNGAN NEGARA PERSERO-REG-S-SUB 4.20000% 20-23.01.25 | 250 000.00 | 254 715.00 | 0.04 |
| USD	BIM LAND JSC-REG-S 7.37500% 21-07.05.26 | 6 000 000.00 | 5 509 875.00 | 0.79 |
| USD	CENTRAL PLAZA DEVELOPMENT LTD-REG-S 4.65000% 21-19.01.26 | 1 600 000.00 | 1 547 300.00 | 0.22 |
| USD	CHIBA BANK LTD/THE-REG-S 1.35000% 21-08.09.26 | 8 425 000.00 | 8 380 963.11 | 1.20 |
| USD	CHINA AOYUAN PROPERTY GROUP LTD-REG-S 5.88000% 21-01.03.27 | 2 000 000.00 | 1 510 000.00 | 0.22 |
| USD	CHINA EVERGRANDE GROUP-REG-S 7.50000% 17-28.06.23 | 1 100 000.00 | 261 250.00 | 0.04 |
| USD	CHINA EVERGRANDE GROUP-REG-S 8.75000% 17-28.06.25 | 2 500 000.00 | 593 750.00 | 0.08 |
| USD	CMHI FINANCE BVI CO LTD-REG-S 5.00000% 18-06.08.28 | 1 750 000.00 | 1 998 828.13 | 0.29 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 5.12500% 20-14.01.27 | 450 000.00 | 455 568.75 | 0.06 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 5.62500% 20-14.01.30 | 15 600 000.00 | 15 924 675.00 | 2.28 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 5.40000% 20-27.05.25 | 4 000 000.00 | 4 072 000.00 | 0.58 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 4.80000% 20-06.08.30 | 950 000.00 | 942 162.50 | 0.13 |
| USD	EHI CAR SERVICES LTD-REG-S 7.75000% 21-14.11.24 | 3 650 000.00 | 3 650 000.00 | 0.52 |

UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) Rapport semestriel au 30 septembre 2021
|  | Dénomination | Quantité/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Plus- (Moins-) value non- | des |
|  |  | réalisée sur Futures/ | actifs |
|  |  | Contrats de | nets |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| USD | ENN ENERGY HOLDINGS LTD-REG-S 3.25000% 17-24.07.22 | 2 110 000.00 | 2 140 726.88 | 0.31 |
| USD | FPC RESOURCES LTD-REG-S 4.37500% 20-11.09.27 | 1 175 000.00 | 1 253 431.25 | 0.18 |
| USD | GREENKO DUTCH BV-REG-S 3.85000% 21-29.03.26 | 815 000.00 | 825 340.31 | 0.12 |
| USD | HUTCHISON WHAMPOA INTERNATIONAL14-REG-S 3.62500% 14-31.10.24 | 5 572 000.00 | 6 032 734.75 | 0.86 |
| USD | INDUSTRIAL BANK OF KOREA-REG-S 0.62500% 21-17.09.24 | 8 775 000.00 | 8 756 533.89 | 1.25 |
| USD | KAISA GROUP HOLDINGS LTD-REG-S 9.37500% 17-30.06.24 | 3 000 000.00 | 2 302 500.00 | 0.33 |
| USD | KAISA GROUP HOLDINGS LTD-REG-S 11.70000% 21-11.11.25 | 1 200 000.00 | 909 000.00 | 0.13 |
| USD | KWG GROUP HOLDINGS LTD-REG-S 7.87500% 19-01.09.23 | 1 750 000.00 | 1 688 750.00 | 0.24 |
| USD | LMIRT CAPITAL PTE LTD-REG-S 7.50000% 21-09.02.26 | 3 575 000.00 | 3 673 312.50 | 0.52 |
| USD | LS FINANCE 2017 LTD-REG-S 4.80000% 21-18.06.26 | 4 375 000.00 | 4 232 014.46 | 0.60 |
| USD | MALAYSIA WAKALA SUKUK BHD-REG-S 3.07500% 21-28.04.51 | 1 750 000.00 | 1 776 031.25 | 0.25 |
| USD | MINERA Y METALURGICA DEL BOLEO-REG-S 3.25000% 19-17.04.24 | 1 100 000.00 | 1 160 486.36 | 0.17 |
| USD | MONGOLIA,GOVERNMENT OF-REG-S 4.45000% 21-07.07.31 | 500 000.00 | 483 125.00 | 0.07 |
| USD | NEW METRO GLOBAL LTD-REG-S 4.80000% 20-15.12.24 | 2 150 000.00 | 2 022 182.50 | 0.29 |
| USD | NWD MTN LTD-REG-S 4.12500% 19-18.07.29 | 1 425 000.00 | 1 420 354.50 | 0.20 |
| USD | OIL INDIA LTD-REG-S 5.12500% 19-04.02.29 | 268 000.00 | 299 456.50 | 0.04 |
| USD | PHILIPPINES, REPUBLIC OF THE 3.95000% 15-20.01.40 | 4 625 000.00 | 5 043 562.50 | 0.72 |
| USD | PHILIPPINES, REPUBLIC OF THE 3.70000% 16-01.03.41 | 10 150 000.00 | 10 729 184.37 | 1.53 |
| USD | POWERLONG REAL ESTATE HOLDINGS-REG-S 5.95000% 20-30.04.25 | 500 000.00 | 475 000.00 | 0.07 |
| USD | POWERLONG REAL ESTATE HOLDING LTD-REG-S 4.90000% 21-13.05.26 | 3 000 000.00 | 2 790 000.00 | 0.40 |
| USD | RKPF OVERSEAS 2020 A LTD-REG-S 5.12500% 21-26.07.26 | 4 100 000.00 | 3 690 000.00 | 0.53 |
| USD | SHINHAN CARD CO LTD-REG-S 1.37500% 21-23.06.26 | 3 800 000.00 | 3 746 078.00 | 0.54 |
| USD | SRI LANKA, DEMOCRATIC REP OF-REG-S 6.85000% 15-03.11.25 | 2 500 000.00 | 1 564 531.25 | 0.22 |
| USD | SUNAC CHINA HOLDINGS LTD-REG-S 7.50000% 19-01.02.24 | 3 000 000.00 | 2 437 500.00 | 0.35 |
| USD | SUNAC CHINA HOLDINGS LTD-REG-S 6.50000% 20-10.01.25 | 3 000 000.00 | 2 392 500.00 | 0.34 |
| USD | TALENT YIELD INTERNATIONAL LTD-REG-S 3.12500% 21-06.05.31 | 2 475 000.00 | 2 558 799.29 | 0.37 |
| USD | TSINGHUA UNIC LTD *DEFAULTED*-REG-S 5.37500% 18-31.01.23 | 325 000.00 | 139 100.00 | 0.02 |
| USD | YUZHOU PROPERTIES CO LTD-REG-S 8.30000% 19-27.05.25 | 2 275 000.00 | 1 666 437.50 | 0.24 |
| Total USD |  |  | 125 119 590.30 | 17.88 |
| Total des Obligations, taux fixe |  | 125 119 590.30 | 17.88 |
| Obligations, taux variable |  |  |  |
| USD |  |  |  |
| USD	BANK OF COMMUNICATIONS H/K-REG-S 2.304%/VAR 21-08.07.31 | 14 150 000.00 | 13 882 028.72 | 1.98 |
| USD	BANK OF EAST ASIA LTD/THE-REG-S-SUB 5.875%/VAR 19-PRP | 500 000.00 | 516 040.00 | 0.07 |
| USD	CHINA CONSTRUCTION BK CORP-REG-S-SUB 2.450%/VAR 20-24.06.30 | 225 000.00 | 227 650.50 | 0.03 |
| USD	CHINA MINMETALS CORP-REG-S 3.750%/VAR 17-PRP | 250 000.00 | 255 422.50 | 0.04 |
| USD	HUANENG HONG KONG CAPITAL LTD-REG-S 3.600%/VAR 17-PRP | 500 000.00 | 507 945.00 | 0.07 |
| USD	INDUSTRIAL & COMM BK OF CHINA-REG-S 3.200%/VAR 21-PRP | 1 400 000.00 | 1 401 750.00 | 0.20 |
| USD	SINO OCEAN LAND TREASURE-REG-S-SUB 4.900%/VAR 17-PRP | 525 000.00 | 441 000.00 | 0.06 |
| USD	SMC GLOBAL POWER HOLDINGS CORP-REG-S 5.700%/VAR 20-PRP | 675 000.00 | 673 650.00 | 0.10 |
| USD	SMC GLOBAL POWER HOLDINGS CORP-REG-S 7.000%/VAR 20-PRP | 2 575 000.00 | 2 688 139.06 | 0.39 |
| USD	SMC GLOBAL POWER HOLDINGS CORP-REG-S 5.450%/VAR 21-PRP | 8 450 000.00 | 8 365 500.00 | 1.20 |
| Total USD |  | 28 959 125.78 | 4.14 |
| Total des Obligations, taux variable |  | 28 959 125.78 | 4.14 |
| Obligations convertibles, taux variable |  |  |  |
| USD |  |  |  |
| USD	KRUNG THAI/CAYMAN ISLANDS-REG-S-SUB COCO 4.400%/VAR 21-PRP | 425 000.00 | 423 984.25 | 0.06 |
| Total USD |  | 423 984.25 | 0.06 |
| Total des Obligations convertibles, taux variable |  | 423 984.25 | 0.06 |
| Total des Titres et instruments du marché monétaire négociés sur une bourse officielle |  | 572 639 160.07 | 81.84 |
| Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  |  |  |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	SMBC AVIATION CAPITAL FINANCE DAC-REG-S 2.30000% 21-15.06.28 | 4 250 000.00 | 4 264 260.96 | 0.61 |
| Total USD |  | 4 264 260.96 | 0.61 |
| Total des Billets, taux fixe |  | 4 264 260.96 | 0.61 |
| Total des Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  | 4 264 260.96 | 0.61 |

OPCVM/Autres OPC au sens de l’article 41 (1) e) de la loi luxembourgeoise du 17 décembre 2010, telle que modifiée
Fonds d’investissement, ouvert
Hong Kong
| USD | UBS (HK) FUND SERIES - ASIA INCOME BOND (USD)-E USD ACC | 1 420.00 | 13 776 223.72 | 1.97 |
| --- | --- | --- | --- | --- |
| Total Hong Kong |  | 13 776 223.72 | 1.97 |
| Luxembourg |  |  |  |
| USD	UBS (LUX) BOND SICAV-ASIAN INVST GRADE BONDS (USD)-U-X-CAP | 1 500.00 | 19 407 255.00 | 2.77 |
| USD	UBS (LUX) BOND SICAV - MULTI INCOME (USD)-U-X-ACC- CAP | 120.00 | 1 286 820.00 | 0.19 |
| USD	UBS (LUX) BOND SICAV - CHINA HIGH YIELD (USD) U-X-ACC | 1 500.00 | 14 158 845.00 | 2.02 |
| Total Luxembourg |  | 34 852 920.00 | 4.98 |
| Total des Fonds d’investissement, ouvert |  | 48 629 143.72 | 6.95 |
| Total des OPCVM/Autres OPC au sens de l’article 41 (1) e) de la loi luxembourgeoise du 17 décembre 2010, telle que modifiée |  | 48 629 143.72 | 6.95 |
| Total du Portefeuille-titres |  | 625 532 564.75 | 89.40 |

UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) Rapport semestriel au 30 septembre 2021
| Dénomination | Quantité/ | Evaluation en USD | en % |
| --- | --- | --- | --- |
|  | Nominal | Plus- (Moins-) value non- | des |
|  |  | réalisée sur Futures/ | actifs |
|  |  | Contrats de | nets |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
| Instruments dérivés |  |  |  |
| Instruments dérivés négociés sur une bourse officielle Contrats financiers à terme sur obligations |  |  |  |
|  |  |  |  |
| USD	US ULTRA LONG BOND (CBT) FUTURE 21.12.21 | 24.00 | -198 000.00 | -0.03 |
| USD	US 10YR TREASURY NOTE FUTURE 21.12.21 | -369.00 | 412 187.64 | 0.06 |
| USD	US 5YR TREASURY NOTE FUTURE 31.12.21 | -329.00 | 206 828.10 | 0.03 |
| Total des Contrats financiers à terme sur obligations |  | 421 015.74 | 0.06 |
| Total des Instruments dérivés négociés sur une bourse officielle |  | 421 015.74 | 0.06 |
| Total des Instruments dérivés |  | 421 015.74 | 0.06 |
| Contrats de change à terme Devise achetée/Montant acheté/Devise vendue/Montant vendu/Date de maturité |  |  |  |

| USD | 36 517 631.85 | CNH | 237 350 000.00 | 15.12.2021 | -40 266.80 | -0.01 |
| --- | --- | --- | --- | --- | --- | --- |
| EUR | 163 888 900.00 | USD | 192 313 610.54 | 27.10.2021 | -2 281 900.63 | -0.32 |
| SGD | 13 296 200.00 | USD | 9 864 469.45 | 27.10.2021 | -71 069.96 | -0.01 |
| GBP | 59 300 100.00 | USD | 81 056 553.58 | 27.10.2021 | -1 096 515.48 | -0.16 |
| EUR | 5 341 900.00 | USD | 6 261 216.95 | 27.10.2021 | -67 201.42 | -0.01 |
| USD | 135 535.09 | SGD | 184 400.00 | 27.10.2021 | -285.89 | 0.00 |
| USD | 234 937.68 | GBP | 175 000.00 | 27.10.2021 | -1 031.68 | 0.00 |
| Total des Contrats de change à terme | -3 558 271.86 | -0.51 |
|  |  |  |
| Avoirs en banque, dépôts à vue et à terme et autres liquidités | 96 012 882.29 | 13.72 |
| Autres actifs et passifs | -18 741 399.67 | -2.67 |
| Total de l’Actif net | 699 666 791.25 | 100.00 |

UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) Rapport semestriel au 30 septembre 2021