# UBS (Lux) Bond Fund – EUR Flexible
| Most important figures |  |
| --- | --- |
|  | ISIN | 30.9.2021 | 31.3.2021 | 31.3.2020 |
| Net assets in EUR |  | 211 729 759.56 | 217 572 340.82 | 202 290 809.89 |
| Class I-A1-acc | LU2092777270 |  |  |  |
| Units outstanding |  | 364 270.2110 | 54 696.3930 | 139 407.4160 |
| Net asset value per unit in EUR |  | 104.24 | 103.54 | 93.05 |
| Issue and redemption price per unit in EUR 1 |  | 104.24 | 103.54 | 92.40 |
| Class P-2%-qdist | LU1669358142 |  |  |  |
| Units outstanding |  | 514.6050 | 806.2500 | 100.0000 |
| Net asset value per unit in EUR |  | 104.88 | 105.45 | 97.13 |
| Issue and redemption price per unit in EUR 1 |  | 104.88 | 105.45 | 96.45 |
| Class P-acc | LU0033050237 |  |  |  |
| Units outstanding |  | 270 775.8360 | 286 619.8160 | 287 108.4080 |
| Net asset value per unit in EUR |  | 449.94 | 447.97 | 404.54 |
| Issue and redemption price per unit in EUR 1 |  | 449.94 | 447.97 | 401.71 |
| Class P-dist | LU0033049577 |  |  |  |
| Units outstanding |  | 301 068.5760 | 311 310.6320 | 329 176.9000 |
| Net asset value per unit in EUR |  | 142.92 | 144.27 | 132.57 |
| Issue and redemption price per unit in EUR 1 |  | 142.92 | 144.27 | 131.64 |
| Class Q-acc | LU0358407707 |  |  |  |
| Units outstanding |  | 43 613.2470 | 215 974.4560 | 172 832.0700 |
| Net asset value per unit in EUR |  | 173.15 | 172.04 | 154.74 |
| Issue and redemption price per unit in EUR 1 |  | 173.15 | 172.04 | 153.66 |
| Class Q-dist | LU0415166585 |  |  |  |
| Units outstanding |  | 12 059.8960 | 12 500.5400 | 27 971.0800 |
| Net asset value per unit in EUR |  | 107.20 | 108.57 | 99.42 |
| Issue and redemption price per unit in EUR 1 |  | 107.20 | 108.57 | 98.72 |
| 1  See note 1 |  |  |  |  |

UBS (Lux) Bond Fund – EUR Flexible
Semi-Annual Report as of 30 September 2021

## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
United States	10.41
New Zealand	9.83
France	8.93
Italy	7.64
Luxembourg	7.54
The Netherlands	6.80
Spain	6.58
Germany	5.57
United Kingdom	3.98
Mexico	2.21
Ireland	2.06
Portugal	1.87
Belgium	1.87
Slovenia	1.86
Australia	1.65
South Africa	1.56
Russian Federation (CIS)	1.56
Austria	1.51
Greece	1.13
Supranationals	0.97
Costa Rica	0.63
Romania	0.60
Cayman Islands	0.56
Sweden	0.52
Switzerland	0.50
Ukraine	0.50
Venezuela	0.48
India	0.45
Poland	0.43
Japan	0.42
Kazakhstan	0.42
Slovakia	0.40
Turkey	0.39
Peru	0.38
Saudi Arabia	0.34
Chile	0.33
Oman	0.31
Indonesia	0.29
Uruguay	0.29
Brazil	0.24
Philippines	0.24
Hong Kong	0.24
Mongolia	0.23
Morocco	0.23
Colombia	0.22
Norway	0.21
China	0.20
Bulgaria	0.19
Finland	0.19
Egypt	0.18
Denmark	0.18
Guatemala	0.18
Bermuda	0.13
Argentina	0.12
Jersey	0.12
Ecuador	0.10
Canada	0.09
Economic Breakdown as a % of net assets	
Countries & central governments	46.94
Banks & credit institutions	12.42
Finance & holding companies	10.41
Investment funds	3.87
Mortgage & funding institutions	3.66
Supranational organisations	3.52
Telecommunications	2.11
Energy & water supply	2.00
Traffic & transportation	1.41
Tobacco & alcohol	1.31
Real Estate	1.15
Electrical devices & components	0.90
Public, non-profit institutions	0.87
Computer hardware & network equipment providers	0.86
Petroleum	0.84
Insurance	0.70
Internet, software & IT services	0.65
Vehicles	0.57
Miscellaneous services	0.56
Miscellaneous unclassified companies	0.50
Retail trade, department stores	0.43
Pharmaceuticals, cosmetics & medical products	0.39
Chemicals	0.32
Mechanical engineering & industrial equipment	0.20
Healthcare & social services	0.15
Textiles, garments & leather goods	0.14
Packaging industry	0.09
Environmental services & recycling	0.09
Total	97.06
Total	97.06
UBS (Lux) Bond Fund – EUR Flexible Semi-Annual Report as of 30 September 2021

## Statement of Net Assets
Assets	30.9.2021
EUR
Investments in securities, cost	194 919 152.19
Investments in securities, unrealized appreciation (depreciation)		10 592 123.63	 Total investments in securities (Note 1)			205 511 275.82
Cash at banks, deposits on demand and deposit accounts	7 069 864.80*
Other liquid assets (Margins)	1 432 969.25
Receivable on subscriptions	103 253.84
Interest receivable on securities	1 655 306.95
Interest receivable on liquid assets	15.55
Other receivables	41 405.72
Unrealized gain on Swaps (Note 1)	2 352 851.91
Unrealized loss on financial futures (Note 1)	-147 507.22
Unrealized loss on forward foreign exchange contracts (Note 1)	-664 186.28
Bank overdraft	-3 977 685.19
Interest payable on bank overdraft	-9.42
Payable on securities purchases (Note 1)	-1 166 216.94
Payable on redemptions	-367 671.24
Provisions for flat fee (Note 2)	-70 452.39
Provisions for taxe d’abonnement (Note 3)	-21 804.24
Provisions for other commissions and fees (Note 2)		-21 651.36		 Total provisions			-113 907.99
Net assets at the end of the period	211 729 759.56

## Statement of Operations
EUR
Income	1.4.2021-30.9.2021
Interest on liquid assets	8 964.00
Interest on securities	2 553 387.33
Dividends	255 099.89
Interest received on swaps (Note 1)	1 520 491.01
Net income on securities lending	29 584.27
Total income	4 372 988.04
Expenses
Other income	5 461.54
Interest paid on swaps (Note 1)	-1 284 955.03
Flat fee (Note 2)	-873 866.41
Taxe d’abonnement (Note 3)	-44 290.63
Other commissions and fees (Note 2)	-21 337.21
Interest on cash and bank overdraft	-39 129.25
Total expenses	-2 275 492.97
Net income (loss) on investments	2 097 495.07
Realized gain (loss) (Note 1)
Other expenses	-11 914.44
Realized gain (loss) on market-priced securities without options	-86 314.90
Realized gain (loss) on yield-evaluated securities and money market instruments	-3 552.25
Realized gain (loss) on financial futures	713 369.01
Realized gain (loss) on forward foreign exchange contracts	-1 799 057.92
Realized gain (loss) on swaps	-1 770 324.27
Total realized gain (loss)	-2 312 670.86
Net realized gain (loss) of the period	-215 175.79
Changes in unrealized appreciation (depreciation) (Note 1)
Realized gain (loss) on foreign exchange	633 209.47
Unrealized appreciation (depreciation) on market-priced securities without options	-361 667.05
Unrealized appreciation (depreciation) on options	12 989.83
Unrealized appreciation (depreciation) on yield-evaluated securities and money market instruments	-19 893.13
Unrealized appreciation (depreciation) on financial futures	-190 708.47
Unrealized appreciation (depreciation) on forward foreign exchange contracts	167 769.11
Total changes in unrealized appreciation (depreciation)	1 221 787.75
Net increase (decrease) in net assets as a result of operations	1 006 611.96
Unrealized appreciation (depreciation) on swaps	1 613 297.46
* As at 30 September 2021, cash amounts serve as collateral for the counterparty JP Morgan for an amount of EUR 76 000.00 and Bank of America for an amount of EUR 410 000.00.
UBS (Lux) Bond Fund – EUR Flexible
Semi-Annual Report as of 30 September 2021
| Statement of Changes in Net Assets |  |
| --- | --- |
|  |  | EUR |
|  |  | 1.4.2021-30.9.2021 |
| Net assets at the beginning of the period |  | 217 572 340.82 |
| Subscriptions |  | 43 395 277.28 |
| Redemptions |  | 	-49 612 654.93	 |
| Total net subscriptions (redemptions) |  | -6 217 377.65 |
| Dividend paid |  | -631 815.57 |
| Net income (loss) on investments |  | 2 097 495.07 |
| Total realized gain (loss) |  | -2 312 670.86 |
| Total changes in unrealized appreciation (depreciation) |  | 	1 221 787.75	 |
| Net increase (decrease) in net assets as a result of operations |  | 1 006 611.96 |
| Net assets at the end of the period |  | 211 729 759.56 |
| Development of the outstanding units |  |  |
|  |  | 1.4.2021-30.9.2021 |
| Class |  | I-A1-acc |
| Number of units outstanding at the beginning of the period |  | 54 696.3930 |
| Number of units issued |  | 334 907.4650 |
| Number of units redeemed |  | -25 333.6470 |
| Number of units outstanding at the end of the period |  | 364 270.2110 |
| Class |  | P-2%-qdist |
| Number of units outstanding at the beginning of the period |  | 806.2500 |
| Number of units issued |  | 0.0000 |
| Number of units redeemed |  | -291.6450 |
| Number of units outstanding at the end of the period |  | 514.6050 |
| Class |  | P-acc |
| Number of units outstanding at the beginning of the period |  | 286 619.8160 |
| Number of units issued |  | 4 568.6780 |
| Number of units redeemed |  | -20 412.6580 |
| Number of units outstanding at the end of the period |  | 270 775.8360 |
| Class |  | P-dist |
| Number of units outstanding at the beginning of the period |  | 311 310.6320 |
| Number of units issued |  | 6 537.6770 |
| Number of units redeemed |  | -16 779.7330 |
| Number of units outstanding at the end of the period |  | 301 068.5760 |
| Class |  | Q-acc |
| Number of units outstanding at the beginning of the period |  | 215 974.4560 |
| Number of units issued |  | 33 714.8400 |
| Number of units redeemed |  | -206 076.0490 |
| Number of units outstanding at the end of the period |  | 43 613.2470 |
| Class |  | Q-dist |
| Number of units outstanding at the beginning of the period |  | 12 500.5400 |
| Number of units issued |  | 933.9930 |
| Number of units redeemed |  | -1 374.6370 |
| Number of units outstanding at the end of the period |  | 12 059.8960 |
| Annual Distribution 1 |  |  |
| UBS (Lux) Bond Fund – EUR Flexible	Ex-Date | Pay-Date | Currency	Amount per unit |
| P-dist	1.6.2021 | 4.6.2021 | EUR	1.97 |
| Q-dist	1.6.2021 | 4.6.2021 | EUR	2.05 |
| Quarterly Distribution 1 |  |  |
| UBS (Lux) Bond Fund – EUR Flexible	Ex-Date | Pay-Date | Currency	Amount per unit |
| P-2%-qdist	12.4.2021 | 15.4.2021 | EUR	0.52 |
| P-2%-qdist	12.7.2021 | 15.7.2021 | EUR	0.52 |
| 1  See note 4 |  |  |

UBS (Lux) Bond Fund – EUR Flexible 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 EUR | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Transferable securities and money market instruments listed on an official stock exchange |  |  |  |
| Notes, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	ALTICE FINCO SA-REG-S 4.75000% 17-15.01.28 | 330 000.00 | 313 585.80 | 0.15 |
| EUR	ALTICE FRANCE HOLDING SA-REG-S 8.00000% 19-15.05.27 | 195 000.00 | 207 480.00 | 0.10 |
| EUR	ALTICE FRANCE-REG-S 5.87500% 18-01.02.27 | 600 000.00 | 627 216.00 | 0.30 |
| EUR	AMERICAN EXPRESS CREDIT CORP 0.62500% 16-22.11.21 | 100 000.00 | 100 073.60 | 0.05 |
| EUR	ANHEUSER-BUSCH INBEV SA/NV-REG-S 3.70000% 20-02.04.40 | 100 000.00 | 133 814.22 | 0.06 |
| EUR	ARDAGH PACKAGING FINANCE/MP-REG-S 2.12500% 19-15.08.26 | 200 000.00 | 200 000.00 | 0.09 |
| EUR	ARGENTINA, REPUBLIC OF 0.12500% 20-09.07.30 | 679 000.00 | 244 440.00 | 0.12 |
| EUR	ARGENTINA, REPUBLIC OF 0.50000% 20-09.07.29 | 22 046.00 | 8 465.67 | 0.00 |
| EUR	AT&T INC 0.80000% 19-04.03.30 | 460 000.00 | 462 946.76 | 0.22 |
| EUR	BACARDI LTD-REG-S 2.75000% 13-03.07.23 | 100 000.00 | 104 696.00 | 0.05 |
| EUR	BP CAPITAL MARKETS PLC-REG-S 1.87600% 20-07.04.24 | 700 000.00 | 735 672.00 | 0.35 |
| EUR	BULGARIAN ENERGY HOLDING EAD-REG-S 2.45000% 21-22.07.28 | 410 000.00 | 411 312.00 | 0.19 |
| EUR	CHILE, REPUBLIC OF 0.83000% 19-02.07.31 | 700 000.00 | 697 725.00 | 0.33 |
| EUR	CHINA, PEOPLE’S REPUBLIC OF-REG-S 1.00000% 19-12.11.39 | 435 000.00 | 430 187.82 | 0.20 |
| EUR	CORP ANDINA DE FOMENTO-REG-S 0.25000% 21-04.02.26 | 1 010 000.00 | 1 010 735.28 | 0.48 |
| EUR	FISERV INC 1.62500% 19-01.07.30 | 395 000.00 | 423 263.91 | 0.20 |
| EUR	GOLDMAN SACHS GROUP INC-REG-S 3.37500% 20-27.03.25 | 815 000.00 | 908 395.74 | 0.43 |
| EUR	GTC AURORA LUXEMBOURG SA-REG-S 2.25000% 21-23.06.26 | 245 000.00 | 249 064.06 | 0.12 |
| EUR	INDONESIA, REPUBLIC OF 1.40000% 19-30.10.31 | 400 000.00 | 406 200.00 | 0.19 |
| EUR	INTERNATIONAL GAME TECHNOLOGY PLC-REG-S 2.37500% 19-15.04.28 | 160 000.00 | 157 800.00 | 0.07 |
| EUR	JAGUAR LAND ROVER AUTOMOTIVE PLC-REG-S 4.50000% 18-15.01.26 | 300 000.00 | 303 750.00 | 0.14 |
| EUR	JAGUAR LAND ROVER AUTOMOTIVE PLC-REG-S 4.50000% 21-15.07.28 | 295 000.00 | 290 798.02 | 0.14 |
| EUR	LOXAM SAS-REG-S 3.75000% 19-15.07.26 | 400 000.00 | 408 600.00 | 0.19 |
| EUR	LVMH MOET HENNESSY LOUIS VUITTON-REG-S 0.12500% 20-11.02.28 | 200 000.00 | 201 204.00 | 0.10 |
| EUR	LVMH MOET HENNESSY LOUIS VUITTON-REG-S 0.37500% 20-11.02.31 | 100 000.00 | 100 989.00 | 0.05 |
| EUR	MACIF-REG-S-SUB 0.62500% 21-21.06.27 | 200 000.00 | 198 638.00 | 0.09 |
| EUR	NATIONAL GRID ELECTRICITY TRANS-REG-S 0.19000% 20-20.01.25 | 100 000.00 | 100 649.00 | 0.05 |
| EUR	NETFLIX INC 3.62500% 17-15.05.27 | 200 000.00 | 231 000.00 | 0.11 |
| EUR	PERU, REPUBLIC OF 0.12500% 21-11.03.33 | 400 000.00 | 386 000.00 | 0.18 |
| EUR	PETROBRAS GLOBAL FINANCE BV 4.75000% 14-14.01.25 | 300 000.00 | 335 587.50 | 0.16 |
| EUR	SAUDI GOVERNMENT INTERNATIONAL BD-REG-S 0.75000% 19-09.07.27 | 700 000.00 | 717 150.00 | 0.34 |
| EUR	TELE COLUMBUS AG-REG-S 3.87500% 18-02.05.25 | 560 000.00 | 561 400.00 | 0.27 |
| EUR	TRITAX EUROBOX PLC-REG-S 0.95000% 21-02.06.26 | 140 000.00 | 141 528.10 | 0.07 |
| EUR	TURKEY, REPUBLIC OF 4.37500% 21-08.07.27 | 600 000.00 | 594 351.60 | 0.28 |
| EUR	UKRAINE, GOVERNMENT OF-REG-S 4.37500% 20-27.01.30 | 600 000.00 | 556 500.00 | 0.26 |
| EUR	UNILABS SUBHOLDING AB-REG-S 5.75000% 17-15.05.25 | 400 000.00 | 406 160.00 | 0.19 |
| EUR	VANTAGE TOWERS AG-REG-S 0.37500% 21-31.03.27 | 300 000.00 | 299 724.00 | 0.14 |
| EUR	VEB FINANCE PLC-REG-S LPN 4.03200% 13-21.02.23 | 610 000.00 | 636 801.87 | 0.30 |
| EUR	VERISURE MIDHOLDING AB-REG-S 5.25000% 21-15.02.29 | 145 000.00 | 148 752.60 | 0.07 |
| Total EUR |  | 14 452 657.55 | 6.83 |
| GBP |  |  |  |
| GBP	CPUK FINANCE LTD-REG-S 4.50000% 21-28.08.27 | 110 000.00 | 130 084.11 | 0.06 |
| Total GBP |  | 130 084.11 | 0.06 |
| USD |  |  |  |
| USD	AERCAP IRELAND CAP/ GLBL AVIATION TRUST 6.50000% 20-15.07.25 | 150 000.00 | 150 058.46 | 0.07 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 4.25000% 12-26.01.23 | 800 000.00 | 703 999.30 | 0.33 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 7.15800% 15-12.03.45 | 740 000.00 | 638 628.71 | 0.30 |
| USD	ECUADOR GOVT INTERNATIONAL BD-REG-S STEP-UP/DOWN 20-31.07.35 | 198 120.00 | 111 116.10 | 0.05 |
| USD	ECUADOR, REPUBLIC OF-REG-S STEP-UP 0.50000% 20-31.07.30 | 75 600.00 | 54 631.34 | 0.03 |
| USD	ECUADOR, REPUBLIC OF-REG-S STEP-UP 20-31.07.40 | 90 800.00 | 45 382.37 | 0.02 |
| USD	EQT CORP 3.90000% 17-01.10.27 | 430 000.00 | 401 534.92 | 0.19 |
| USD	GENERAL ELECTRIC CO 3.45000% 20-01.05.27 | 60 000.00 | 56 779.99 | 0.03 |
| USD	GUATEMALA, REPUBLIC OF-REG-S 4.87500% 13-13.02.28 | 400 000.00 | 371 953.05 | 0.18 |
| USD	MEITUAN DIANPING-REG-S 3.05000% 20-28.10.30 | 700 000.00 | 559 186.12 | 0.26 |
| USD	OMAN GOVT INTERNATIONAL BOND-REG-S 6.75000% 18-17.01.48 | 760 000.00 | 646 462.31 | 0.31 |
| USD	PEGASUS HAVA TASIMACILIGI AS-REG-S 9.25000% 21-30.04.26 | 260 000.00 | 236 679.76 | 0.11 |
| USD	PLAINS ALL AMERICAN PIPELINE LP 3.80000% 20-15.09.30 | 135 000.00 | 124 358.48 | 0.06 |
| USD	SANTOS FINANCE LTD-REG-S 3.64900% 21-29.04.31 | 320 000.00 | 281 167.83 | 0.13 |
| USD	SHIMAO PROPERTY HOLDINGS LTD-REG-S 3.45000% 21-11.01.31 | 200 000.00 | 153 587.30 | 0.07 |
| USD	SHIMAO PROPERTY HOLDINGS LTD-REG-S 5.20000% 21-16.01.27 | 200 000.00 | 166 745.76 | 0.08 |
| USD	UKRAINE, GOVERNMENT OF-REG-S 7.37500% 17-25.09.32 | 560 000.00 | 492 799.52 | 0.23 |
| USD	URUGUAY, REPUBLIC OF 4.12500% 12-20.11.45 | 600 000.00 | 603 552.79 | 0.29 |
| USD	VISTRA OPERATIONS CO LLC-144A 4.37500% 21-01.05.29 | 80 000.00 | 69 451.14 | 0.03 |
| USD	WASTE CONNECTIONS INC 2.95000% 21-15.01.52 | 220 000.00 | 185 736.77 | 0.09 |
| Total USD |  | 6 053 812.02 | 2.86 |
| Total Notes, fixed rate |  | 20 636 553.68 | 9.75 |
| Notes, zero coupon |  |  |  |
| USD |  |  |  |
| USD	ECUADOR, REPUBLIC OF-REG-S 0.00000% 20-31.07.30 | 16 232.00 | 7 283.01 | 0.00 |
| Total USD |  | 7 283.01 | 0.00 |
| Total Notes, zero coupon |  | 7 283.01 | 0.00 |
| Notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	ABANCA CORP BANCARIA SA-REG-S-SUB VAR 21-PRP | 200 000.00 | 214 750.40 | 0.10 |
| EUR	AUSTRALIA & NZ BANKING GRP-REG-S-SUB 1.125%/VAR 19-21.11.29 | 200 000.00 | 204 730.00 | 0.10 |
| EUR	BARCLAYS PLC-REG-S 0.577%VAR 21-09.08.29 | 605 000.00 | 597 301.98 | 0.28 |
| EUR	BRITISH AMERICAN TOBACCO PLC-REG-S -SUB 3.750%/VAR 21-PRP | 375 000.00 | 372 562.50 | 0.18 |
| EUR	ENI SPA-REG-S-SUB 3.375%/VAR 20-PRP | 100 000.00 | 106 530.00 | 0.05 |
| EUR	MORGAN STANLEY 0.406%VAR 21-29.10.27 | 1 100 000.00 | 1 105 500.00 | 0.52 |

UBS (Lux) Bond Fund – EUR Flexible
Semi-Annual Report as of 30 September 2021
|  | Description | Quantity/ | Valuation in EUR | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| EUR | RAKUTEN GROUP INC-REG-S-SUB 4.250%VAR 21-PRP | 425 000.00 | 428 292.35 | 0.20 |
| EUR | WESTPAC BANKING CORP-REG-SUB 0.766%/VAR 21-13.05.31 | 500 000.00 | 500 065.75 | 0.24 |
| EUR | WINTERSHALL DEA FINANCE 2BV-REG-S-SUB 3.000%/VAR 21-PRP | 800 000.00 | 792 267.20 | 0.37 |
| Total EUR |  |  | 4 322 000.18 | 2.04 |
| USD |  |  |  |  |
| USD | ALLIANZ SE-REG-S-SUB 3.500%/VAR 20-PRP | 200 000.00 | 174 589.07 | 0.08 |
| Total USD |  |  | 174 589.07 | 0.08 |
| Total Notes, floating rate |  | 4 496 589.25 | 2.12 |
| Medium term notes, fixed rate |  |  |  |
| AUD |  |  |  |
| AUD	QANTAS AIRWAYS LTD 3.15000% 21-27.09.28 | 220 000.00 | 135 507.61 | 0.06 |
| Total AUD |  | 135 507.61 | 0.06 |
| EUR |  |  |  |
| EUR	ABERTIS INFRAESTRUCTURAS SA-REG-S 2.37500% 19-27.09.27 | 100 000.00 | 109 938.80 | 0.05 |
| EUR	ABN AMRO BANK NV-REG-S 1.25000% 18-10.01.33 | 500 000.00 | 554 925.00 | 0.26 |
| EUR	AEROPORTI DI ROMA SPA-REG-S 1.75000% 21-30.07.31 | 215 000.00 | 222 778.70 | 0.11 |
| EUR	AKER BP ASA-REG-S 1.12500% 21-12.05.29 | 100 000.00 | 100 679.37 | 0.05 |
| EUR	ANHEUSER-BUSCH INBEV SA/NV-REG-S 1.15000% 18-22.01.27 | 200 000.00 | 210 334.14 | 0.10 |
| EUR	AROUNDTOWN SA-REG-S 2.00000% 18-02.11.26 | 100 000.00 | 108 192.00 | 0.05 |
| EUR	ASTRAZENECA PLC-REG-S 0.37500% 21-03.06.29 | 185 000.00 | 184 915.27 | 0.09 |
| EUR	AURIZON NETWORK PTY LTD-REG-S 2.00000% 14-18.09.24 | 100 000.00 | 105 994.91 | 0.05 |
| EUR	AUTOSTRADE PER L’ITALIA SPA-REG-S 1.12500% 15-04.11.21 | 100 000.00 | 100 000.00 | 0.05 |
| EUR	BANCO BILBAO VIZCAYA ARGENTARIA SA 0.62500% 16-18.03.23 | 1 000 000.00 | 1 015 262.00 | 0.48 |
| EUR	BANCO BPM SPA 2.50000% 19-21.06.24 | 400 000.00 | 422 020.00 | 0.20 |
| EUR	BANCO DE SABADELL SA-REG-S-SUB 2.50000% 21-15.04.31 | 600 000.00 | 609 456.00 | 0.29 |
| EUR	BANCO SANTANDER SA-REG-S-SUB 3.25000% 16-04.04.26 | 100 000.00 | 112 321.00 | 0.05 |
| EUR	BANK OF IRELAND GROUP PLC-REG-S 1.37500% 18-29.08.23 | 255 000.00 | 262 099.20 | 0.12 |
| EUR	BANQUE FEDER DU CREDIT MUTUEL-REG-S-SUB 3.00000% 15-11.09.25 | 200 000.00 | 221 837.20 | 0.10 |
| EUR	BAT INTERNATIONAL FINANCE PLC-REG-S 0.87500% 15-13.10.23 | 200 000.00 | 203 138.40 | 0.10 |
| EUR	BAT INTERNATIONAL FINANCE PLC-REG-S 1.25000% 15-13.03.27 | 300 000.00 | 308 664.00 | 0.15 |
| EUR	BNP PARIBAS-REG-S-SUB 2.87500% 16-01.10.26 | 2 400 000.00 | 2 687 136.00 | 1.27 |
| EUR	BPCE SA-REG-S 1.37500% 18-23.03.26 | 300 000.00 | 315 145.20 | 0.15 |
| EUR	CANAL DE ISABEL II GESTION SA-REG-S 1.68000% 15-26.02.25 | 400 000.00 | 421 525.00 | 0.20 |
| EUR	CELLNEX FINANCE CO SA-REG-S 1.50000% 21-08.06.28 | 500 000.00 | 500 557.00 | 0.24 |
| EUR	CELLNEX FINANCE CO SA-REG-S 2.00000% 21-15.09.32 | 400 000.00 | 391 688.00 | 0.18 |
| EUR	CITIGROUP INC-REG-S 2.37500% 14-22.05.24 | 300 000.00 | 320 187.00 | 0.15 |
| EUR	CNH INDUSTRIAL FINANCE EUROPE SA-REG-S 1.87500% 18-19.01.26 | 305 000.00 | 325 093.56 | 0.15 |
| EUR	COMMERZBANK AG-REG-S 0.62500% 19-28.08.24 | 165 000.00 | 168 291.17 | 0.08 |
| EUR	CPI PROPERTY GROUP SA-REG-S 2.75000% 20-12.05.26 | 155 000.00 | 169 785.45 | 0.08 |
| EUR	CREDIT AGRICOLE SA LONDON-REG-S 1.37500% 18-13.03.25 | 300 000.00 | 313 743.00 | 0.15 |
| EUR	CTP BV-REG-S 0.50000% 21-21.06.25 | 295 000.00 | 296 502.73 | 0.14 |
| EUR	DAIMLER AG-REG-S 2.00000% 20-22.08.26 | 175 000.00 | 191 485.00 | 0.09 |
| EUR	DANSKE BANK AS-REG-S 1.37500% 19-24.05.22 | 250 000.00 | 252 811.00 | 0.12 |
| EUR	DANSKE BANK AS-REG-S-SUB 1.50000% 20-02.09.30 | 120 000.00 | 122 996.64 | 0.06 |
| EUR	DEUTSCHE BANK AG-REG-S 1.12500% 18-30.08.23 | 480 000.00 | 492 253.01 | 0.23 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 2.00000% 21-14.07.24 | 400 000.00 | 407 322.40 | 0.19 |
| EUR	DNB BANK ASA-REG-S 0.05000% 19-14.11.23 | 335 000.00 | 337 810.65 | 0.16 |
| EUR	EDP FINANCE BV-REG-S 1.50000% 17-22.11.27 | 270 000.00 | 289 263.96 | 0.14 |
| EUR	EGYPT, REPUBLIC OF-REG-S 6.37500% 19-11.04.31 | 400 000.00 | 391 000.00 | 0.18 |
| EUR	ELECTRICITE DE FRANCE-REG-S 1.87500% 16-13.10.36 | 2 600 000.00 | 2 845 882.00 | 1.34 |
| EUR	ELENIA VERKKO OYJ-REG-S 0.37500% 20-06.02.27 | 100 000.00 | 100 334.80 | 0.05 |
| EUR	ELIA TRANSMISSION BELGIUM SA-REG-S 0.87500% 20-28.04.30 | 100 000.00 | 102 873.14 | 0.05 |
| EUR	EUROPEAN FINANCIAL STABILITY FAC-REG-S 1.80000% 17-10.07.48 | 1 700 000.00 | 2 192 731.40 | 1.04 |
| EUR	EUROPEAN STABILITY MECHANISM-REG-S 0.50000% 16-02.03.26 | 1 500 000.00 | 1 556 727.00 | 0.74 |
| EUR	FMS WERTMANAGEMENT 0.37500% 15-29.04.30 | 1 800 000.00 | 1 846 720.80 | 0.87 |
| EUR	FORD MOTOR CREDIT CO LLC 3.02100% 19-06.03.24 | 250 000.00 | 260 578.00 | 0.12 |
| EUR	GE CAPITAL EUROPEAN FUNDING 4.62500% 07-22.02.27 | 1 550 000.00 | 1 900 710.60 | 0.90 |
| EUR	GENERAL MOTORS FINANCIAL CO INC-REG-S 1.69400% 18-26.03.25 | 500 000.00 | 523 534.00 | 0.25 |
| EUR	GLENCORE FINANCE EUROPE SA-REG-S 1.75000% 15-17.03.25 | 200 000.00 | 209 414.80 | 0.10 |
| EUR	GLOBALWORTH REAL ESTATE INVEST-REG-S 3.00000% 18-29.03.25 | 100 000.00 | 106 956.25 | 0.05 |
| EUR	GOLDMAN SACHS GROUP INC-REG-S 2.00000% 18-01.11.28 | 410 000.00 | 451 282.90 | 0.21 |
| EUR	HEIDELBERGCEMENT FIN LUX SA-REG-S 1.12500% 19-01.12.27 | 80 000.00 | 83 696.00 | 0.04 |
| EUR	KAZAKHSTAN, REPUBLIC OF-REG-S 2.37500% 18-09.11.28 | 800 000.00 | 889 400.00 | 0.42 |
| EUR	KBC GROUP NV-REG-S 1.12500% 19-25.01.24 | 200 000.00 | 206 370.00 | 0.10 |
| EUR	KREDITANSTALT FUER WIEDERAUFBAU-REG-S 0.37500% 15-23.04.30 | 2 000 000.00 | 2 074 588.00 | 0.98 |
| EUR	MEXICO, UNITED STATES OF 3.00000% 15-06.03.45 | 200 000.00 | 207 912.50 | 0.10 |
| EUR	NATIONAL AUSTRALIA BANK LTD 1.87500% 12-13.01.23 | 500 000.00 | 514 825.00 | 0.24 |
| EUR	NEW YORK LIFE GLOBAL FUNDING-REG-S 0.25000% 20-23.01.27 | 390 000.00 | 393 120.00 | 0.19 |
| EUR	PETROLEOS MEXICANOS-REG-S 3.75000% 17-21.02.24 | 300 000.00 | 309 993.75 | 0.15 |
| EUR	PHILIP MORRIS INTERNATIONAL INC 2.87500% 14-03.03.26 | 1 450 000.00 | 1 626 235.90 | 0.77 |
| EUR	PHILIPPINES, REPUBLIC OF THE 0.87500% 19-17.05.27 | 500 000.00 | 509 000.00 | 0.24 |
| EUR	POLAND, REPUBLIC OF-REG-S 2.00000% 19-08.03.49 | 560 000.00 | 690 655.00 | 0.33 |
| EUR	PPF ARENA 1 BV-REG-S 2.12500% 19-31.01.25 | 450 000.00 | 463 568.40 | 0.22 |
| EUR	RABOBANK NEDERLAND NV-REG-S 1.50000% 18-26.04.38 | 1 500 000.00 | 1 743 625.95 | 0.82 |
| EUR	REDEXIS GAS FINANCE BV-REG-S 1.87500% 15-27.04.27 | 600 000.00 | 642 788.40 | 0.30 |
| EUR	REN FINANCE B V-REG-S 2.50000% 15-12.02.25 | 400 000.00 | 433 958.40 | 0.20 |
| EUR	ROBERT BOSCH GMBH-REG-S 1.75000% 14-08.07.24 | 1 500 000.00 | 1 583 790.00 | 0.75 |
| EUR	ROMANIA-REG-S 4.62500% 19-03.04.49 | 1 000 000.00 | 1 170 500.00 | 0.55 |
| EUR	RYANAIR DAC-REG-S 0.87500% 21-25.05.26 | 335 000.00 | 340 285.63 | 0.16 |
| EUR	SVENSKA HANDELSBANKEN AB-REG-S 1.00000% 20-15.04.25 | 145 000.00 | 151 005.90 | 0.07 |
| EUR	TOTAL CAPITAL INTERNATIONAL SA-REG-S 1.99400% 20-08.04.32 | 100 000.00 | 114 477.80 | 0.05 |
| EUR	TRATON FINANCE LUXEMBOURG SA-REG-S 1.25000% 21-24.03.33 | 300 000.00 | 301 998.00 | 0.14 |
| EUR	UBS GROUP AG-REG-S 1.25000% 16-01.09.26 | 900 000.00 | 943 416.00 | 0.45 |
| EUR	UNION FENOSA FINANCE BV-REG-S 1.25000% 20-15.01.26 | 200 000.00 | 209 931.62 | 0.10 |
| EUR	VODAFONE GROUP PLC-REG-S 1.60000% 16-29.07.31 | 300 000.00 | 323 211.00 | 0.15 |
| EUR	VODAFONE GROUP PLC-REG-S 2.50000% 19-24.05.39 | 150 000.00 | 173 565.00 | 0.08 |
| EUR	VOLKSWAGEN FINANCIAL SERVICES AG-REG-S 1.50000% 19-01.10.24 | 680 000.00 | 709 260.40 | 0.33 |
| EUR	VONOVIA SE-REG-S 0.37500% 21-16.06.27 | 300 000.00 | 300 061.20 | 0.14 |
| EUR	VONOVIA SE-REG-S 1.62500% 21-01.09.51 | 200 000.00 | 186 492.00 | 0.09 |

UBS (Lux) Bond Fund – EUR Flexible Semi-Annual Report as of 30 September 2021
|  | Description | Quantity/ | Valuation in EUR | as a % |
| --- | --- | --- | --- | --- |
|  |  | Nominal | Unrealized gain | of net |
|  |  |  | (loss) on Futures/ | assets |
|  |  |  | Forward |  |
|  |  |  | Exchange Contracts/ |  |
|  |  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| EUR | WESTPAC BANKING CORP-REG-S 0.37500% 19-02.04.26 | 600 000.00 | 614 794.38 | 0.29 |
| EUR | WESTPAC BANKING CORP-REG-S 0.01000% 21-22.09.28 | 925 000.00 | 922 049.25 | 0.44 |
| EUR | ZF FINANCE GMBH-REG-S 3.75000% 20-21.09.28 | 300 000.00 | 327 000.00 | 0.15 |
| Total EUR |  |  | 44 506 473.93 | 21.02 |
| GBP |  |  |  |  |
| GBP | AA BOND CO LTD-REG-S 3.25000% 21-31.07.28 | 100 000.00 | 118 823.26 | 0.06 |
| Total GBP |  |  | 118 823.26 | 0.06 |
| USD |  |  |  |  |
| USD | INDIAN RAILWAY FINANCE CORP LTD-REG-S 2.80000% 21-10.02.31 | 585 000.00 | 486 954.01 | 0.23 |
| USD | MONGOLIA,GOVERNMENT OF-REG-S 8.75000% 17-09.03.24 | 500 000.00 | 487 860.78 | 0.23 |
| USD | PERTAMINA PERSERO PT-REG-S 4.70000% 19-30.07.49 | 215 000.00 | 199 229.09 | 0.10 |
| USD | QTEL INTERNATIONAL FINANCE LTD-REG-S 2.62500% 21-08.04.31 | 200 000.00 | 176 021.40 | 0.08 |
| USD | REC LTD-REG-S 2.25000% 21-01.09.26 | 560 000.00 | 470 753.70 | 0.22 |
| Total USD |  |  | 1 820 818.98 | 0.86 |
| Total Medium term notes, fixed rate |  | 46 581 623.78 | 22.00 |
| Medium term notes, zero coupon |  |  |  |
| EUR |  |  |  |
| EUR	SIEMENS FINANCIERINGSMAATSCH NV-REG-S 0.00000% 20-20.02.23 | 400 000.00 | 402 092.00 | 0.19 |
| Total EUR |  | 402 092.00 | 0.19 |
| Total Medium term notes, zero coupon |  | 402 092.00 | 0.19 |
| Medium term notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	AXA SA-REG-S-SUB 3.250%/VAR 18-28.05.49 | 100 000.00 | 114 387.60 | 0.05 |
| EUR	BANK OF AMERICA CORP-REG-S 0.808%/VAR 19-09.05.26 | 900 000.00 | 924 021.00 | 0.44 |
| EUR	BANK OF AMERICA CORP-REG-S 3.648%/VAR 20-31.03.29 | 330 000.00 | 395 811.24 | 0.19 |
| EUR	BARCLAYS PLC-REG-S 3.375%/VAR 20-02.04.25 | 170 000.00 | 183 943.96 | 0.09 |
| EUR	COMMONWEALTH BK OF AUSTRLIA-REG-S-SUB 1.936%/VAR 17-03.10.29 | 200 000.00 | 209 414.00 | 0.10 |
| EUR	CREDIT AGRICOLE SA-REG-S 1.000%/VAR 20-22.04.26 | 700 000.00 | 721 308.00 | 0.34 |
| EUR	CREDIT SUISSE GROUP AG-REG-S 3.250%/VAR 20-02.04.26 | 100 000.00 | 110 128.00 | 0.05 |
| EUR	DEUTSCHE BANK AG-REG-S 1.000%/VAR 20-19.11.25 | 200 000.00 | 204 290.00 | 0.10 |
| EUR	DEUTSCHE BANK AG-REG-S 1.750%/VAR 20-19.11.30 | 200 000.00 | 210 460.00 | 0.10 |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S-SUB 2.625%/VAR 18-PRP | 100 000.00 | 105 071.00 | 0.05 |
| EUR	ING GROEP NV-SUB 3.000%/VAR 17-11.04.28 | 600 000.00 | 626 958.00 | 0.29 |
| EUR	LLOYDS BANKING GROUP PLC-REG-S 3.500%/VAR 20-01.04.26 | 115 000.00 | 128 639.00 | 0.06 |
| EUR	NATWEST GROUP PLC-REG-S 2.000%/VAR 18-04.03.25 | 400 000.00 | 419 030.40 | 0.20 |
| EUR	NATWEST GROUP PLC-REG-S-SUB 1.043%/VAR 21-14.09.32 | 270 000.00 | 268 937.82 | 0.13 |
| EUR	TOTAL SE-REG-S-SUB 2.625%/VAR 15-PRP | 100 000.00 | 105 328.60 | 0.05 |
| EUR	TOTAL SE-REG-S-SUB 2.125%/VAR 21-PRP | 510 000.00 | 498 518.88 | 0.23 |
| EUR	VIRGIN MONEY UK PLC-REG-S 0.000%/VAR 21-27.05.24 | 230 000.00 | 231 863.00 | 0.11 |
| Total EUR |  | 5 458 110.50 | 2.58 |
| Total Medium term notes, floating rate |  | 5 458 110.50 | 2.58 |
| Bonds, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	ABBOTT IRELAND FINCING DAC-REG-S 0.87500% 18-27.09.23 | 225 000.00 | 230 197.50 | 0.11 |
| EUR	ADLER REAL ESTATE AG-REG-S 3.00000% 18-27.04.26 | 400 000.00 | 349 600.00 | 0.16 |
| EUR	ADO PROPERTIES SA-REG-S 1.50000% 17-26.07.24 | 100 000.00 | 87 750.00 | 0.04 |
| EUR	ALSTRIA OFFICE REIT-AG-REG-S 1.50000% 20-23.06.26 | 200 000.00 | 208 328.80 | 0.10 |
| EUR	ALTRIA GROUP INC 2.20000% 19-15.06.27 | 400 000.00 | 430 718.40 | 0.20 |
| EUR	APPLE INC 1.37500% 17-24.05.29 | 500 000.00 | 544 264.00 | 0.26 |
| EUR	AROUNDTOWN SA-REG-S 0.37500% 19-23.09.22 | 100 000.00 | 100 452.60 | 0.05 |
| EUR	AUSTRIA, REPUBLIC OF 2.40000% 13-23.05.34 | 2 500 000.00 | 3 189 580.00 | 1.51 |
| EUR	AUTOSTRADE PER L’ITALIA SPA REG-S 2.00000% 21-15.01.30 | 455 000.00 | 477 067.50 | 0.23 |
| EUR	BELGIUM, KINGDOM OF-144A-REG-S 1.90000% 15-22.06.38 | 2 700 000.00 | 3 300 442.20 | 1.56 |
| EUR	BNZ INTERNATIONAL FUND LTD/LONDON 0.50000% 17-03.07.24 | 900 000.00 | 919 908.00 | 0.43 |
| EUR	BPCE SA-REG-S 0.25000% 20-15.01.26 | 200 000.00 | 201 644.00 | 0.10 |
| EUR	BRISTOL MYERS SQUIBB CO 1.75000% 15-15.05.35 | 200 000.00 | 225 256.40 | 0.11 |
| EUR	CAIXABANK SA-REG-S 1.12500% 15-05.08.22 | 1 000 000.00 | 1 013 148.00 | 0.48 |
| EUR	CELANESE US HOLDINGS LLC 0.62500% 21-10.09.28 | 180 000.00 | 178 937.64 | 0.08 |
| EUR	CHUBB INA HOLDINGS INC 2.50000% 18-15.03.38 | 200 000.00 | 239 038.40 | 0.11 |
| EUR	CNAC HK FINBRIDGE CO LTD-REG-S 1.75000% 18-14.06.22 | 500 000.00 | 505 250.00 | 0.24 |
| EUR	EUROPEAN INVESTMENT BANK 1.00000% 16-14.04.32 | 2 000 000.00 | 2 193 024.00 | 1.04 |
| EUR	EUROPEAN UNION-REG-S 0.10000% 20-04.10.40 | 535 000.00 | 498 596.46 | 0.24 |
| EUR	FINNAIR OYJ-REG-S 4.25000% 21-19.05.25 | 295 000.00 | 304 956.25 | 0.14 |
| EUR	FRANCE, REPUBLIC OF-OAT 4.00000% 06-25.10.38 | 1 910 000.00 | 3 009 090.40 | 1.42 |
| EUR	FRANCE, REPUBLIC OF-OAT 4.50000% 09-25.04.41 | 1 040 000.00 | 1 790 441.12 | 0.85 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 3.25000% 12-25.05.45 | 2 000 000.00 | 3 104 552.00 | 1.47 |
| EUR	FRANCE, REPUBLIC OF-OAT-144A-REG-S 1.50000% 19-25.05.50 | 700 000.00 | 810 247.20 | 0.38 |
| EUR	GERMANY, REPUBLIC OF-REG-S 1.25000% 17-15.08.48 | 1 000 000.00 | 1 262 062.00 | 0.60 |
| EUR	GREECE, HELLENIC REPUBLIC OF-144A-REG-S 1.87500% 19-23.07.26 | 2 210 000.00 | 2 394 259.19 | 1.13 |
| EUR	IMPERIAL BRANDS FINANCE PLC-REG-S 1.37500% 17-27.01.25 | 900 000.00 | 928 569.60 | 0.44 |
| EUR	INEOS QUATTRO FINANCE 2 PLC-REG-S 2.50000% 21-15.01.26 | 200 000.00 | 201 744.40 | 0.10 |
| EUR	INTERNATIONAL BUSINESS MACHINES CORP 0.37500% 19-31.01.23 | 300 000.00 | 302 922.60 | 0.14 |
| EUR	INTERNATIONAL BUSINESS MACHINES CORP 1.25000% 19-29.01.27 | 200 000.00 | 211 636.00 | 0.10 |
| EUR	INTRUM JUSTITIA AB-REG-S 3.12500% 17-15.07.24 | 400 000.00 | 402 020.00 | 0.19 |
| EUR	IRELAND, REPUBLIC OF-REG-S 1.70000% 17-15.05.37 | 730 000.00 | 861 662.80 | 0.41 |
| EUR	ITALY, REPUBLIC OF-BTP-144A-REG-S 3.250% 14-01.09.46 | 3 600 000.00 | 4 731 120.00 | 2.23 |
| EUR	ITALY, REPUBLIC OF-BTP-144A-REG-S 1.65000% 15-01.03.32 | 2 600 000.00 | 2 788 656.00 | 1.32 |
| EUR	ITALY, REPUBLIC OF-BTP-144A-REG-S 2.70000% 16-01.03.47 | 1 300 000.00 | 1 561 300.00 | 0.74 |
| EUR	ITALY, REPUBLIC OF-BTP-144A-REG-S 2.25000% 16-01.09.36 | 4 283 000.00 | 4 859 543.19 | 2.29 |
| EUR	ITALY, REPUBLIC OF-BTP 2.05000% 17-01.08.27 | 600 000.00 | 660 960.00 | 0.31 |
| EUR	ITALY, REPUBLIC OF-BTP-REG-S 3.00000% 19-01.08.29 | 200 000.00 | 237 040.00 | 0.11 |
| EUR	MATTERHORN TELECOM SA-REG-S 3.12500% 19-15.09.26 | 330 000.00 | 330 000.00 | 0.16 |
| EUR	MPT OPERATING PARTNERSHIP LP/FIN CORP 3.32500% 17-24.03.25 | 300 000.00 | 325 746.60 | 0.15 |
| EUR	NETHERLANDS, KINGDOM OF THE 4.00000% 05-15.01.37 | 1 200 000.00 | 1 904 380.80 | 0.90 |
| EUR	PERU, REPUBLIC OF 3.75000% 16-01.03.30 | 350 000.00 | 414 378.12 | 0.20 |

UBS (Lux) Bond Fund – EUR Flexible
Semi-Annual Report as of 30 September 2021
|  | Description | Quantity/ | Valuation in EUR | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| EUR | PORTUGAL, REPUBLIC OF-144A-REG-S 2.87500% 15-15.10.25 | 2 000 000.00 | 2 274 751.20 | 1.07 |
| EUR | PORTUGAL, REPUBLIC OF-144A-REG-S 2.25000% 18-18.04.34 | 1 400 000.00 | 1 689 336.60 | 0.80 |
| EUR | RABOBANK NEDERLAND NV-SUB 3.87500% 13-25.07.23 | 3 000 000.00 | 3 218 928.00 | 1.52 |
| EUR | SLOVAKIA, REPUBLIC OF-REG-S 0.75000% 19-09.04.30 | 800 000.00 | 852 819.20 | 0.40 |
| EUR | SLOVENIA, REPUBLIC OF-REG-S 1.50000% 15-25.03.35 | 2 500 000.00 | 2 822 720.00 | 1.33 |
| EUR | SLOVENIA, REPUBLIC OF-REG-S 3.12500% 15-07.08.45 | 750 000.00 | 1 125 178.50 | 0.53 |
| EUR | SPAIN, KINGDOM OF-144A-REG-S 2.90000% 16-31.10.46 | 2 000 000.00 | 2 737 968.00 | 1.29 |
| EUR | SPAIN, KINGDOM OF-144A-REG-S 1.50000% 17-30.04.27 | 100 000.00 | 109 316.73 | 0.05 |
| EUR | SPAIN, KINGDOM OF-144A-REG-S 2.70000% 18-31.10.48 | 2 600 000.00 | 3 457 864.80 | 1.63 |
| EUR | SPAIN, KINGDOM OF-144A-REG-S 1.85000% 19-30.07.35 | 2 826 000.00 | 3 239 647.27 | 1.53 |
| EUR | STANDARD PROFIL AUTOMOTIVE GMBH-REG-S 6.25000% 21-30.04.26 | 470 000.00 | 428 640.00 | 0.20 |
| EUR | TAURON POLSKA ENERGIA SA-REG-S 2.37500% 17-05.07.27 | 200 000.00 | 209 600.00 | 0.10 |
| EUR | TEVA PHARMACEUTICAL FINANCE II BV-REG-S 1.12500% 16-15.10.24 | 200 000.00 | 190 787.50 | 0.09 |
| EUR | UMG GROUPE VYV 1.62500% 19-02.07.29 | 100 000.00 | 106 728.40 | 0.05 |
| EUR | UNITED GROUP BV-REG-S 3.12500% 20-15.02.26 | 335 000.00 | 323 945.00 | 0.15 |
| EUR | UPC HOLDING BV-REG-S 3.87500% 17-15.06.29 | 350 000.00 | 359 247.00 | 0.17 |
| EUR | UTAH ACQUISITION SUB INC-REG-S 3.12500% 16-22.11.28 | 100 000.00 | 115 527.20 | 0.05 |
| EUR | VERIZON COMMUNICATIONS INC 0.87500% 19-08.04.27 | 550 000.00 | 568 714.30 | 0.27 |
| EUR | VOLKSWAGEN INTERNATIONAL FIN NV-REG-S 1.12500% 17-02.10.23 | 600 000.00 | 614 916.00 | 0.29 |
| EUR | VOLKSWAGEN INTERNATIONAL FIN NV-REG-S 4.12500% 18-16.11.38 | 200 000.00 | 275 728.00 | 0.13 |
| EUR | WINTERSHALL DEA FINANCE BV-REG-S 1.33200% 19-25.09.28 | 300 000.00 | 310 651.80 | 0.15 |
| Total EUR |  |  | 73 323 507.67 | 34.63 |
| GBP |  |  |  |  |
| GBP | BELLIS ACQUISITION CO PLC-REG-S 3.25000% 21-16.02.26 | 310 000.00 | 354 245.21 | 0.17 |
| GBP | BERKELEY GROUP PLC/THE-REG-S 2.50000% 21-11.08.31 | 160 000.00 | 180 447.59 | 0.09 |
| GBP | PREMIER FOODS FINANCE PLC-REG-S 3.50000% 21-15.10.26 | 280 000.00 | 327 797.26 | 0.15 |
| GBP | ROTHESAY LIFE PLC-REG-S-SUB 3.37500% 19-12.07.26 | 315 000.00 | 390 465.24 | 0.18 |
| GBP | VERY GROUP FUNDING PLC/THE-REG-S 6.50000% 21-01.08.26 | 450 000.00 | 530 666.09 | 0.25 |
| Total GBP |  |  | 1 783 621.39 | 0.84 |
| MXN |  |  |  |  |
| MXN | MEXICO, UNITED MEXICAN STATES 7.75000% 11-13.11.42 | 1 003 800.00 | 4 163 148.98 | 1.97 |
| Total MXN |  | 4 163 148.98 | 1.97 |
| USD |  |  |  |  |
| USD | BRAZIL, FEDERATIVE REPUBLIC OF 5.62500% 16-21.02.47 | 600 000.00 | 516 027.43 | 0.24 |
| USD | COLOMBIA, REPUBLIC OF 6.12500% 09-18.01.41 | 500 000.00 | 474 513.56 | 0.22 |
| USD | COUNTRY GARDEN HOLDINGS CO LTD-REG-S 2.70000% 21-12.07.26 | 200 000.00 | 159 627.25 | 0.08 |
| USD | MOROCCO, KINGDOM OF THE-REG-S 5.50000% 12-11.12.42 | 500 000.00 | 484 894.74 | 0.23 |
| Total USD |  |  | 1 635 062.98 | 0.77 |
| ZAR |  |  |  |  |
| ZAR | SOUTH AFRICA, REPUBLIC OF 8.75000% 12-28.02.48 | 70 000 000.00 | 3 304 245.65 | 1.56 |
| Total ZAR |  |  | 3 304 245.65 | 1.56 |
| Total Bonds, fixed rate |  | 84 209 586.67 | 39.77 |
| Bonds, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	BP CAPITAL MARKETS PLC-REG-S 3.250%/VAR 20-PRP | 130 000.00 | 138 728.20 | 0.06 |
| EUR	BP CAPITAL MARKETS PLC-REG-S-SUB 3.625%/VAR 20-PRP | 100 000.00 | 108 250.00 | 0.05 |
| EUR	ELECTRICITE DE FRANCE SA-REG-S-SUB 4.000%/VAR 18-PRP | 200 000.00 | 213 420.00 | 0.10 |
| EUR	HOLCIM FINANCE LUXEMBOURG SA-REG-S-SUB 3.000%/VAR 19-PRP | 300 000.00 | 313 672.80 | 0.15 |
| EUR	SES SA-REG-S-SUB 2.875%/VAR 21-PRP | 695 000.00 | 707 839.43 | 0.33 |
| EUR	UNIBAIL-RODAMCO SE-REG-S-SUB 2.125%/VAR 18-PRP | 100 000.00 | 99 754.00 | 0.05 |
| EUR	UNIBAIL-RODAMCO SE-REG-S-SUB 2.875%/VAR 18-PRP | 100 000.00 | 101 859.00 | 0.05 |
| EUR	VONOVIA FINANCE BV-REG-S-SUB 4.000%/VAR 14-PRP | 100 000.00 | 100 738.00 | 0.05 |
| Total EUR |  | 1 784 261.43 | 0.84 |
| GBP |  |  |  |
| GBP	M&G PLC-REG-S-SUB 5.625%/VAR 18-20.10.51 | 190 000.00 | 260 802.04 | 0.13 |
| Total GBP |  | 260 802.04 | 0.13 |
| NZD |  |  |  |
| NZD	NEW ZEALAND-REG-S 2.500%/CPI LINKED 14-20.09.35 | 8 000 000.00 | 6 705 417.00 | 3.17 |
| Total NZD |  | 6 705 417.00 | 3.17 |
| USD |  |  |  |
| USD	RAKUTEN GROUP INC-REG-S-SUB 6.250%/VAR 21-PRP | 540 000.00 | 492 730.48 | 0.23 |
| Total USD |  | 492 730.48 | 0.23 |
| Total Bonds, floating rate |  | 9 243 210.95 | 4.37 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 171 035 049.84 | 80.78 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Asset Backed Securities, floating rate |  |  |  |
| USD |  |  |  |
| USD	SOFI PROFESSIONA LOAN PROGRAM LLC-144A VAR 17-26.03.40 | 475 000.00 | 427 496.59 | 0.20 |
| Total USD |  | 427 496.59 | 0.20 |
| Total Asset Backed Securities, floating rate |  | 427 496.59 | 0.20 |

UBS (Lux) Bond Fund – EUR Flexible Semi-Annual Report as of 30 September 2021
| Description	Quantity/ | Valuation in EUR | as a % |
| --- | --- | --- |
| Nominal | Unrealized gain | of net |
|  | (loss) on Futures/ | assets |
|  | Forward |  |
|  | Exchange Contracts/ |  |
|  | Swaps (Note 1) |  |

Mortgage Backed Securities, fixed rate
| USD |  |
| --- | --- |
| USD | BENCHMARK MORTGAGE TRUST-SUB 3.97900% 19-01.03.62 | 750 000.00 | 723 352.75 | 0.34 |
| USD | MSBAM LYNCH TRUST-SUB 3.99400% 16-01.12.49 | 313 000.00 | 294 312.21 | 0.14 |
| Total USD |  |  | 1 017 664.96 | 0.48 |
| Total Mortgage Backed Securities, fixed rate |  | 1 017 664.96 | 0.48 |
| Mortgage Backed Securities, floating rate |  |  |  |
| USD |  |  |  |
| USD	AVENTURA MALL TRUST-144A FLR 18-01.07.40 | 650 000.00 | 633 183.06 | 0.30 |
| USD	BAMLL COMMERCIAL MORT SET-144A 1M LIBOR+135BP 18-15.09.34 | 550 000.00 | 472 772.87 | 0.22 |
| USD	BANK 2017-BNK9 VAR 17-01.11.54 | 450 000.00 | 427 342.79 | 0.20 |
| USD	BANK-SUB FLR 18-01.02.61 | 505 000.00 | 466 903.72 | 0.22 |
| USD	BBCMS TRUST CBM-144A 1M LIBOR+119.1098BP 18-15.07.37 | 550 000.00 | 474 721.58 | 0.22 |
| USD	BENCHMARK MORTGAGE TRUST VAR 18-01.02.51 | 250 000.00 | 240 914.11 | 0.11 |
| USD	BENCHMARK MORTGAGE TRUST-SUB FLR 18-01.10.51 | 550 000.00 | 519 989.97 | 0.25 |
| USD	CAMB COMM MORTGAGE TRUST-144A-SUB 1M LIBOR+145BP 19-15.12.37 | 175 000.00 | 151 138.38 | 0.07 |
| USD	CAMB COMM MORTGAGE TRUST-144A-SUB 1M LIBOR+175BP 19-15.12.37 | 430 000.00 | 371 369.41 | 0.18 |
| USD	CHT COSMO MORTGAGE TRUST-144A-SUB 1M LIBOR+225BP 17-15.11.36 | 600 000.00 | 518 200.63 | 0.25 |
| USD	CORE TRUST CORE-144A 1M LIBOR+110BP 19-15.12.31 | 230 000.00 | 158 572.71 | 0.08 |
| USD	GS MORTGAGE SECURITIES TRUST-144A VAR 17-01.01.43 | 1 225 000.00 | 1 151 810.97 | 0.54 |
| USD	JP MORGAN CHASE MORTGAGE SECURITIES-144A-SUB FLR 18-01.01.31 | 685 000.00 | 601 709.80 | 0.28 |
| Total USD |  | 6 188 630.00 | 2.92 |
| Total Mortgage Backed Securities, floating rate |  | 6 188 630.00 | 2.92 |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AMERICAN AIRLINES GROUP INC-144A 3.75000% 20-01.03.25 | 700 000.00 | 544 259.89 | 0.26 |
| USD	AVOLON HOLDINGS FUNDING LTD-144A 2.12500% 21-21.02.26 | 165 000.00 | 140 768.59 | 0.06 |
| USD	DELL INTERNATIONAL LLC / EMC CORP 5.30000% 21-01.10.29 | 280 000.00 | 292 047.79 | 0.14 |
| USD	ENLINK MIDSTREAM PARTNERS LP 4.40000% 14-01.04.24 | 110 000.00 | 98 654.99 | 0.05 |
| Total USD |  | 1 075 731.26 | 0.51 |
| Total Notes, fixed rate |  | 1 075 731.26 | 0.51 |
| Bonds, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	PANTHER BF AGGR 2/PANTHER FIN CO-REG-S 4.37500% 19-15.05.26 | 400 000.00 | 413 505.60 | 0.19 |
| Total EUR |  | 413 505.60 | 0.19 |
| RUB |  |  |  |
| RUB	RUSSIA, FEDERATION OF 7.65000% 19-10.04.30 | 270 000 000.00 | 3 293 708.91 | 1.56 |
| Total RUB |  | 3 293 708.91 | 1.56 |
| Total Bonds, fixed rate |  | 3 707 214.51 | 1.75 |
| Bonds, floating rate |  |  |  |
| NZD |  |  |  |
| NZD	NEW ZEALAND 2.500%/CPI LINKED 17-20.09.40 | 14 000 000.00 | 11 677 479.85 | 5.52 |
| NZD	NEW ZEALAND 3.000%/CPI LINKED 13-20.09.30 | 1 800 000.00 | 1 511 922.39 | 0.71 |
| Total NZD |  | 13 189 402.24 | 6.23 |
| Total Bonds, floating rate |  | 13 189 402.24 | 6.23 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 25 606 139.56 | 12.09 |
| Recently issued transferable securities and money market instruments |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	BROADCOM INC-144A 1.95000% 21-15.02.28 | 200 000.00 | 170 395.07 | 0.08 |
| USD	BROADCOM INC-144A 2.60000% 21-15.02.33 | 700 000.00 | 580 190.61 | 0.27 |
| Total USD |  | 750 585.68 | 0.35 |
| Total Notes, fixed rate |  | 750 585.68 | 0.35 |
| Total Recently issued transferable securities and money market instruments |  | 750 585.68 | 0.35 |
| UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of | 17 December 2010 |  |  |
| Investment funds, open end |  |  |  |
| Luxembourg |  |  |  |
| EUR	UBS (LUX) BOND FUND - EURO HIGH YIELD (EUR) I-X-ACC | 100.00 | 14 389.00 | 0.01 |
| USD	UBS (LUX) BOND SICAV - ASIAN HIGH YIELD (USD) I-X-DIST | 45 000.00 | 3 474 351.78 | 1.64 |
| USD	UBS (LUX) BOND SICAV - MULTI INCOME (USD)-U-X-ACC- CAP | 320.00 | 2 960 887.01 | 1.40 |
| USD	UBS (LUX) BOND SICAV - CHINA HIGH YIELD (USD) U-X-ACC | 200.00 | 1 628 927.91 | 0.77 |
| Total Luxembourg |  | 8 078 555.70 | 3.82 |
| Total Investment funds, open end |  | 8 078 555.70 | 3.82 |
| Total UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 |  | 8 078 555.70 | 3.82 |

UBS (Lux) Bond Fund – EUR Flexible
Semi-Annual Report as of 30 September 2021
| Description	Quantity/ | Valuation in EUR | as a % |
| --- | --- | --- |
| Nominal | Unrealized gain | of net |
|  | (loss) on Futures/ | assets |
|  | Forward |  |
|  | Exchange Contracts/ |  |
|  | Swaps (Note 1) |  |

Derivative instruments not listed on an official stock exchange and not traded on another regulated market
Options on other swaps, classic-styled
| USD |  |
| --- | --- |
| USD | GOLDMAN SACH/CDX.NA.HY.36 SWAPTION PUT 108.00000 21-17.11.21 | 19 500 000.00 | 115 741.45 | 0.05 |
| USD | GOLDMAN SACH/CDX.NA.HY.36 SWAPTION PUT 105.00000 21-17.11.21 | -19 500 000.00 | -47 165.45 | -0.02 |
| USD | GOLDMAN SACH/CDX.NA.HY.36 SWAPTION PUT 103.00000 21-17.11.21 | -19 500 000.00 | -27 630.96 | -0.01 |
| Total USD |  |  | 40 945.04 | 0.02 |
| Total Options on other swaps, classic-styled |  | 40 945.04 | 0.02 |
| Total Derivative instruments not listed on an official stock exchange and not traded on another regulated market |  | 40 945.04 | 0.02 |
| Total investments in securities |  | 205 511 275.82 | 97.06 |
| Derivative instruments |  |  |  |
| Derivative instruments listed on an official stock exchange |  |  |  |
| Financial Futures on bonds |  |  |  |
|  |  |  |  |
| EUR	EURO BTP ITALY GOVERNMENT FUTURE 08.12.21 | 40.00 | -50 290.00 | -0.02 |
| EUR	SHORT EURO BTP ITALY GOVERMENT FUTURE 08.12.21 | 40.00 | -6 400.00 | 0.00 |
| EUR	EURO-BOBL FUTURE 08.12.21 | 112.00 | -91 840.00 | -0.04 |
| EUR	EURO-SCHATZ FUTURE 08.12.21 | 280.00 | -21 000.00 | -0.01 |
| EUR	EURO-BUXL FUTURE 08.12.21 | -9.00 | 9 600.00 | 0.00 |
| EUR	EURO-OAT FUTURE 08.12.21 | 110.00 | -321 200.00 | -0.15 |
| GBP	LONG GILT FUTURE 29.12.21 | 20.00 | -87 954.84 | -0.04 |
| JPY	JAPAN GOVERNMENT 10Y BOND (OSE) FUTURE 13.12.21 | -5.00 | 18 560.07 | 0.01 |
| CAD	CAN 10YR BOND FUTURE 20.12.21 | -10.00 | 22 884.92 | 0.01 |
| USD	US ULTRA LONG BOND (CBT) FUTURE 21.12.21 | -21.00 | 88 617.40 | 0.04 |
| USD	US 10YR TREASURY NOTE FUTURE 21.12.21 | -35.00 | 38 457.51 | 0.02 |
| USD	US 5YR TREASURY NOTE FUTURE 31.12.21 | -120.00 | 58 242.37 | 0.03 |
| USD	US 10YR ULTRA NOTE FUTURE 21.12.21 | -76.00 | 139 808.66 | 0.06 |
| USD	US LONG BOND FUTURE 21.12.21 | -24.00 | 55 006.69 | 0.02 |
| Total Financial Futures on bonds | -147 507.22 | -0.07 |
| Total Derivative instruments listed on an official stock exchange | -147 507.22 | -0.07 |
| Derivative instruments not listed on an official stock exchange and not traded on another regulated market |  |  |
| Swaps and forward swaps on interest rates |  |  |

| NZD NZD | LCH/INTEREST RATE SWAP PAYER 2.27500% 18-17.10.22 LCH/INTEREST RATE SWAP REC 3MF 18-17.10.22 | -27 000 000.00 | -350 557.68 | -0.16 |
| --- | --- | --- | --- | --- |
| USD | LCH/INTEREST RATE SWAP PAY 1.29910% 20-03.03.50 | -1 000 000.00 | 107 674.86 | 0.05 |
| USD | LCH/INTEREST RATE SWAP REC 3M LIBOR 20-03.03.50 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAY 2.11600% 20-23.01.30 | -24 500 000.00 | -66 463.51 | -0.03 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 20-23.01.30 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAY 1.91900% 20-10.02.30 | -29 000 000.00 | 30 639.88 | 0.01 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 20-10.02.30 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAY 0.88000% 20-07.05.30 | -10 000 000.00 | 211 612.45 | 0.10 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 20-07.05.30 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAY 0.50088% 21-02.02.51 | -2 700 000.00 | 395 663.72 | 0.19 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 21-02.02.51 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAY 0.51415% 21-03.02.51 | -1 500 000.00 | 213 829.74 | 0.10 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 21-03.02.51 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAY 0.52190% 21-04.02.51 | -1 500 000.00 | 210 369.27 | 0.10 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 21-04.02.51 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAY 0.88544% 21-28.02.51 | -800 000.00 | 24 724.28 | 0.01 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 21-28.02.51 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAY 1.20750% 19-27.09.29 | -11 200 000.00 | 449 383.83 | 0.21 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 19-27.09.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAY 1.67500% 24-30.10.29 | -18 000 000.00 | 369 322.56 | 0.17 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 24-30.10.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAY 1.58300% 24-24.09.29 | -19 000 000.00 | 431 940.52 | 0.20 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 24-24.09.29 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP PAY 2.80500% 21-02.04.26 | -55 000 000.00 | -118 195.55 | -0.05 |
| CNY | CITI/INTEREST RATE SWAP REC CNRR007 21-02.04.26 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP PAY CNRR007 19-28.08.24 | -80 000 000.00 | 131 447.11 | 0.06 |
| CNY | CITI/INTEREST RATE SWAP REC 2.77000% 19-28.08.24 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP PAY CNRR007 20-10.06.25 | -50 000 000.00 | -41 080.57 | -0.02 |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 2.23500% 20-10.06.25 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP PAY CNRR007 20-11.06.25 | -50 000 000.00 | -32 239.30 | -0.01 |
| CNY | CITI/INTEREST RATE SWAP REC 2.27000% 20-11.06.25 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP PAY CNRR007 20-12.06.25 | -48 000 000.00 | -48 030.71 | -0.02 |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 2.19500% 20-12.06.25 |  |  |  |
| MXN | CME/INTEREST RATE SWAP PAY MXI 18-26.06.28 | -135 000 000.00 | 258 835.87 | 0.12 |
| MXN | CME/INTEREST RATE SWAP REC 8.07000% 18-26.06.28 |  |  |  |
| MXN | CME/INTEREST RATE SWAP PAY MXI 18-12.07.28 | -120 000 000.00 | 254 071.66 | 0.12 |
| MXN | CME/INTEREST RATE SWAP REC 8.13500% 18-12.07.28 |  |  |  |
| CNY | HSBC/INTEREST RATE SWAP PAY CNRR007 18-20.11.21 | -133 000 000.00 | 28 072.87 | 0.01 |
| CNY | HSBC/INTEREST RATE SWAP REC 2.89500% 18-20.11.21 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAY 3MFRA 21-22.06.26 | -11 000 000.00 | -133 619.23 | -0.06 |
| NZD | LCH/INTEREST RATE SWAP REC 1.32000% 21-22.06.26 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP PAY 6ML 21-10.08.26 | -2 200 000 000.00 | -101 764.21 | -0.05 |
| HUF | LCH/INTEREST RATE SWAP REC 2.59600% 21-10.08.26 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP PAY 6ML 21-17.09.26 | -1 220 000 000.00 | -27 980.70 | -0.01 |
| HUF | LCH/INTEREST RATE SWAP REC 2.83500% 21-17.09.26 |  |  |  |

Total Swaps and forward swaps on interest rates	2 197 657.16	1.04
UBS (Lux) Bond Fund – EUR Flexible Semi-Annual Report as of 30 September 2021
| Description | Quantity/ | Valuation in EUR | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |

Credit default swaps*
| USD | CITIBANK/BRAZIL CREDIT DEFAULT SWAP PAYER 1.00000% 19-20.06.24 | -1 900 000.00 | 12 871.25 | 0.01 |
| --- | --- | --- | --- | --- |
| USD | BOA/MEX CREDIT DEFAULT SWAP PAY 1.00000% 19-20.06.24 | -3 200 000.00 | -37 691.16 | -0.02 |
| USD | JPMORGAN/BRAZIL CREDIT DEFAULT SWAP PAY 1.00000% 19-20.06.24 | -1 900 000.00 | 12 871.25 | 0.01 |
| USD | BOA/TURKEY CREDIT DEFAULT SWAP REC 1.00000% 19-20.06.24 | 3 200 000.00 | -202 609.94 | -0.10 |
| USD | CITI/SOAF CREDIT DEFAULT SWAP REC 1.00000% 19-20.06.24 | 1 900 000.00 | -11 262.82 | -0.01 |
| USD | JPMORGAN/SOAF CREDIT DEFAULT SWAP REC 1.00000% 19-20.06.24 | 1 900 000.00 | -11 262.82 | -0.01 |
| EUR | ICE/MARKIT ITRX EUR CDI REC 1.00000% 19-20.06.22 | 11 300 000.00 | 78 676.88 | 0.04 |
| EUR | ICE/MARKIT ITRX EUR CDI REC 5.00000% 20-20.12.22 | 6 253 310.00 | 313 602.11 | 0.15 |
| Total Credit default swaps | 155 194.75 | 0.07 |
| Total Derivative instruments not listed on an official stock exchange and not traded on another regulated market | 2 352 851.91 | 1.11 |
| Total Derivative instruments | 2 205 344.69 | 1.04 |
| Forward Foreign Exchange contracts |  |  |
| Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date |  |  |

| MYR | 4 004 000.00 | USD | 955 608.59 | 6.10.2021 | 541.55 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| KRW | 2 283 000 000.00 | USD | 1 970 872.86 | 6.10.2021 | -36 566.26 | -0.02 |
| USD | 3 736 964.16 | RUB | 275 223 300.00 | 6.10.2021 | -36 244.73 | -0.02 |
| USD | 2 019 872.35 | TWD | 55 700 000.00 | 6.10.2021 | 16 811.96 | 0.01 |
| USD | 1 030 287.11 | IDR | 14 712 500 000.00 | 6.10.2021 | 2 260.35 | 0.00 |
| USD | 1 031 726.51 | INR | 75 510 000.00 | 6.10.2021 | 12 547.89 | 0.01 |
| EUR | 34 376 074.25 | USD | 40 740 000.00 | 6.10.2021 | -773 947.51 | -0.37 |
| EUR | 3 762 430.25 | CAD | 5 620 000.00 | 6.10.2021 | -65 045.40 | -0.03 |
| EUR | 860 000.00 | NZD | 1 434 038.30 | 6.10.2021 | 6 480.01 | 0.00 |
| EUR | 19 318 824.14 | NZD | 32 230 000.00 | 6.10.2021 | 135 968.80 | 0.06 |
| NOK | 44 760 000.00 | EUR | 4 354 655.78 | 6.10.2021 | 69 253.39 | 0.03 |
| PLN | 12 160 000.00 | EUR | 2 693 040.33 | 6.10.2021 | -51 192.80 | -0.02 |
| EUR | 1 484 376.67 | GBP | 1 275 000.00 | 6.10.2021 | 1 111.88 | 0.00 |
| TRY | 4 450 000.00 | EUR | 443 483.14 | 6.10.2021 | -12 079.75 | -0.01 |
| SGD | 1 385 000.00 | EUR | 868 175.65 | 6.10.2021 | 12 019.88 | 0.01 |
| EUR | 2 514 299.49 | SEK | 25 600 000.00 | 6.10.2021 | -10 460.66 | 0.00 |
| EUR | 4 092 642.29 | ZAR | 70 320 000.00 | 6.10.2021 | 62 075.43 | 0.03 |
| AUD | 2 445 000.00 | EUR | 1 530 009.88 | 6.10.2021 | -6 177.75 | 0.00 |
| EUR | 852 111.26 | CHF | 925 000.00 | 6.10.2021 | -3 499.81 | 0.00 |
| EUR | 4 374 008.93 | MXN | 104 140 000.00 | 6.10.2021 | 3 624.80 | 0.00 |
| EUR | 1 458 465.27 | JPY | 190 600 000.00 | 6.10.2021 | -15 445.81 | -0.01 |
| CHF | 925 000.00 | EUR | 850 697.53 | 6.10.2021 | 4 913.54 | 0.00 |
| CAD | 1 291 880.58 | NZD | 1 445 000.00 | 6.10.2021 | 19 786.89 | 0.01 |
| EUR | 860 000.00 | NOK | 8 856 355.68 | 6.10.2021 | -15 328.71 | -0.01 |
| AUD | 1 390 000.00 | NZD | 1 440 889.29 | 6.10.2021 | 8 712.61 | 0.00 |
| INR | 75 510 000.00 | USD | 1 021 786.20 | 6.10.2021 | -3 969.74 | 0.00 |
| USD | 1 020 000.00 | CNY | 6 597 972.00 | 8.10.2021 | -1 343.79 | 0.00 |
| PLN | 3 890 000.00 | JPY | 110 585 733.00 | 6.10.2021 | -10 030.18 | 0.00 |
| USD | 360 000.00 | EUR | 304 662.27 | 6.10.2021 | 5 941.75 | 0.00 |
| ZAR | 3 060 000.00 | USD | 210 261.23 | 6.10.2021 | -6 019.88 | 0.00 |
| USD | 453 634.95 | NZD | 645 000.00 | 6.10.2021 | 7 496.68 | 0.00 |
| CAD | 1 279 318.65 | AUD | 1 380 000.00 | 6.10.2021 | 11 197.80 | 0.02 |
| EUR | 866 941.36 | NOK | 8 740 000.00 | 6.10.2021 | 3 112.80 | 0.00 |
| EUR | 215 902.84 | GBP | 185 000.00 | 6.10.2021 | 684.03 | 0.00 |
| CNY | 6 597 972.00 | USD | 1 020 331.25 | 8.10.2021 | 1 058.73 | 0.00 |
| USD | 1 017 654.77 | CNY | 6 600 000.00 | 4.11.2021 | -1 717.89 | 0.00 |
| USD | 1 924 552.16 | KRW | 2 283 000 000.00 | 6.10.2021 | -3 401.28 | 0.00 |
| KRW | 2 283 000 000.00 | USD | 1 923 595.43 | 4.11.2021 | 3 749.37 | 0.00 |
| USD | 995 000.00 | IDR | 14 307 105 000.00 | 4.11.2021 | -879.42 | 0.00 |
| USD | 995 000.00 | CNY | 6 449 092.50 | 4.11.2021 | -1 148.23 | 0.00 |
| USD | 955 608.59 | MYR | 4 004 000.00 | 6.10.2021 | -541.63 | 0.00 |
| RUB | 275 223 300.00 | USD | 3 778 484.51 | 6.10.2021 | 397.47 | 0.00 |
| MYR | 4 004 000.00 | USD | 954 014.77 | 3.11.2021 | 611.89 | 0.00 |
| USD | 3 759 644.89 | RUB | 275 223 300.00 | 3.11.2021 | 1 213.28 | 0.00 |
| IDR | 14 712 500 000.00 | USD | 1 028 990.07 | 6.10.2021 | -1 139.38 | 0.00 |
| TWD | 55 700 000.00 | USD | 2 003 597.12 | 6.10.2021 | -2 777.85 | 0.00 |
| USD | 1 020 378.58 | CNY | 6 597 972.00 | 8.10.2021 | -1 017.30 | 0.00 |
| USD | 1 025 475.71 | IDR | 14 712 500 000.00 | 4.11.2021 | 1 071.96 | 0.00 |
| USD | 2 006 556.43 | TWD | 55 700 000.00 | 4.11.2021 | 1 755.83 | 0.00 |
| USD | 130 000.00 | EUR | 112 356.54 | 6.10.2021 | -193.98 | 0.00 |
| USD | 995 000.00 | CAD | 1 258 201.18 | 6.10.2021 | 1 582.89 | 0.00 |
| Total Forward Foreign Exchange contracts | -664 186.28 | -0.31 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 8 502 834.05** | 4.02 |
| Bank overdraft and other short-term liabilities | -3 977 694.61 | -1.88 |
| Other assets and liabilities | 152 185.89 | 0.07 |
| Total net assets | 211 729 759.56 | 100.00 |
| * Positive nominal: the subfund is “Receiver”, negative nominal: the subfund is “Payer”. ** As at 30 September 2021, cash amounts serve as collateral for the counterparty JP Morgan for an amount of EUR 76 000.00 and Bank of America for an amount of EUR 410 000.00. |  |  |

UBS (Lux) Bond Fund – EUR Flexible
Semi-Annual Report as of 30 September 2021

Translation (ENFR, 2021-09-30):
# UBS (Lux) Bond Fund – EUR Flexible
| Données principales |  |
| --- | --- |
|  | ISIN | 30.9.2021 | 31.3.2021 | 31.3.2020 |
| Actif net en EUR |  | 211 729 759.56 | 217 572 340.82 | 202 290 809.89 |
| Catégorie I-A1-acc | LU2092777270 |  |  |  |
| Parts en circulation |  | 364 270.2110 | 54 696.3930 | 139 407.4160 |
| Valeur nette d’inventaire par part en EUR |  | 104.24 | 103.54 | 93.05 |
| Prix d’émission et de rachat par part en EUR 1 |  | 104.24 | 103.54 | 92.40 |
| Catégorie P-2%-qdist | LU1669358142 |  |  |  |
| Parts en circulation |  | 514.6050 | 806.2500 | 100.0000 |
| Valeur nette d’inventaire par part en EUR |  | 104.88 | 105.45 | 97.13 |
| Prix d’émission et de rachat par part en EUR 1 |  | 104.88 | 105.45 | 96.45 |
| Catégorie P-acc | LU0033050237 |  |  |  |
| Parts en circulation |  | 270 775.8360 | 286 619.8160 | 287 108.4080 |
| Valeur nette d’inventaire par part en EUR |  | 449.94 | 447.97 | 404.54 |
| Prix d’émission et de rachat par part en EUR 1 |  | 449.94 | 447.97 | 401.71 |
| Catégorie P-dist | LU0033049577 |  |  |  |
| Parts en circulation |  | 301 068.5760 | 311 310.6320 | 329 176.9000 |
| Valeur nette d’inventaire par part en EUR |  | 142.92 | 144.27 | 132.57 |
| Prix d’émission et de rachat par part en EUR 1 |  | 142.92 | 144.27 | 131.64 |
| Catégorie Q-acc | LU0358407707 |  |  |  |
| Parts en circulation |  | 43 613.2470 | 215 974.4560 | 172 832.0700 |
| Valeur nette d’inventaire par part en EUR |  | 173.15 | 172.04 | 154.74 |
| Prix d’émission et de rachat par part en EUR 1 |  | 173.15 | 172.04 | 153.66 |
| Catégorie Q-dist | LU0415166585 |  |  |  |
| Parts en circulation |  | 12 059.8960 | 12 500.5400 | 27 971.0800 |
| Valeur nette d’inventaire par part en EUR |  | 107.20 | 108.57 | 99.42 |
| Prix d’émission et de rachat par part en EUR 1 |  | 107.20 | 108.57 | 98.72 |
| 1  Voir note 1 |  |  |  |  |

UBS (Lux) Bond Fund – EUR Flexible Rapport semestriel au 30 septembre 2021

## Structure du portefeuille-titres
Répartition géographique en % de l’actif net	
Etats-Unis	10.41
Nouvelle-Zélande	9.83
France	8.93
Italie	7.64
Luxembourg	7.54
Pays-Bas	6.80
Espagne	6.58
Allemagne	5.57
Grande-Bretagne	3.98
Mexique	2.21
Irlande	2.06
Portugal	1.87
Belgique	1.87
Slovénie	1.86
Australie	1.65
Afrique du Sud	1.56
Fédération russe (CEI)	1.56
Autriche	1.51
Grèce	1.13
Supranational	0.97
Costa Rica	0.63
Roumanie	0.60
Iles Caïmans	0.56
Suède	0.52
Suisse	0.50
Ukraine	0.50
Venezuela	0.48
Inde	0.45
Pologne	0.43
Japon	0.42
Kazakhstan	0.42
Slovaquie	0.40
Turquie	0.39
Pérou	0.38
Arabie saoudite	0.34
Chili	0.33
Oman	0.31
Indonésie	0.29
Uruguay	0.29
Brésil	0.24
Philippines	0.24
Hong Kong	0.24
Mongolie	0.23
Maroc	0.23
Colombie	0.22
Norvège	0.21
Chine	0.20
Bulgarie	0.19
Finlande	0.19
Egypte	0.18
Danemark	0.18
Guatemala	0.18
Bermudes	0.13
Argentine	0.12
Jersey	0.12
Equateur	0.10
Canada	0.09
Répartition économique en % de l’actif net	
Gouvernements nationaux et centraux	46.94
Banques & instituts de crédit	12.42
Etablissements financiers et sociétés de participation	10.41
Fonds de placement	3.87
Emetteurs d’obligations sécurisées (Pfandbriefe)
et sociétés de refinancement	3.66
Organisations supranationales	3.52
Télécommunications	2.11
Distribution d’énergie & d’eau	2.00
Trafic et transport	1.41
Tabac et boissons alcoolisées	1.31
Immobilier	1.15
Appareils et composants électriques	0.90
Sociétés publiques	0.87
Equipement informatique et de réseau	0.86
Pétrole	0.84
Assurances	0.70
Internet, logiciels et services informatiques	0.65
Véhicules	0.57
Services divers	0.56
Diverses sociétés non classées	0.50
Commerce de détail, centres commerciaux	0.43
Produits pharmaceutiques, cosmétiques & médicaux	0.39
Chimie	0.32
Machines et appareils	0.20
Soins de santé & services sociaux	0.15
Textiles, habillement & maroquinerie	0.14
Industrie de conditionnement	0.09
Environnement et recyclage	0.09
Total	97.06
Total	97.06
UBS (Lux) Bond Fund – EUR Flexible Rapport semestriel au 30 septembre 2021

## Etat des actifs nets
Actif	30.9.2021
EUR
Portefeuille-titres, cours d’achat	194 919 152.19
Portefeuille-titres, plus- (moins-) value non-réalisée		10 592 123.63	
Total portefeuille-titres (note 1)	205 511 275.82
Avoirs en banque, dépôts à vue et à terme	7 069 864.80*
Autres liquidités (marges)	1 432 969.25
A recevoir sur souscriptions	103 253.84
Intérêts à recevoir sur titres	1 655 306.95
Intérêts à recevoir sur liquidités	15.55
Autres créances	41 405.72
Bénéfice non réalisé sur swaps (note 1)	2 352 851.91
Perte non réalisée sur contrats financiers à terme (note 1)	-147 507.22
Perte non réalisée sur contrats de change à terme (note 1)	-664 186.28
Crédit en compte courant	-3 977 685.19
Intérêts à payer sur crédit en compte courant	-9.42
A payer sur achats de titres (note 1)	-1 166 216.94
A payer sur rachats	-367 671.24
Provisions pour commission de gestion forfaitaire (note 2)	-70 452.39
Provisions pour taxe d’abonnement (note 3)	-21 804.24
Provisions pour autres commissions et frais (note 2)		-21 651.36		 Total des Provisions pour frais			-113 907.99
Actifs nets à la fin de la période	211 729 759.56

## Etat des opérations
EUR
Revenus	1.4.2021-30.9.2021
Revenus d’intérêts sur liquidités	8 964.00
Intérêts sur titres	2 553 387.33
Dividendes	255 099.89
Revenus d’intérêts sur swaps (note 1)	1 520 491.01
Revenus nets sur prêts de titres	29 584.27
Total des Revenus	4 372 988.04
Charges
Autres revenus	5 461.54
Charges d’intérêts sur swaps (note 1)	-1 284 955.03
Commission de gestion forfaitaire (note 2)	-873 866.41
Taxe d’abonnement (note 3)	-44 290.63
Autres commissions et frais (note 2)	-21 337.21
Charges d’intérêts sur liquidités et crédit en compte courant	-39 129.25
Total des Charges	-2 275 492.97
Revenus (Pertes) net(te)s des investissements	2 097 495.07
Bénéfices (pertes) réalisé(e)s (note 1)
Autres charges	-11 914.44
Bénéfice (perte) réalisé(e) sur titres évalués à la valeur de marché hors options	-86 314.90
Bénéfice (perte) réalisé(e) sur instruments du marché monétaire et titres évalués en fonction des rendements	-3 552.25
Bénéfice (perte) réalisé(e) sur contrats financiers à terme	713 369.01
Bénéfice (perte) réalisé(e) sur contrats de change à terme	-1 799 057.92
Bénéfice (perte) réalisé(e) sur swaps	-1 770 324.27
Total des Bénéfices (pertes) réalisé(e)s	-2 312 670.86
Bénéfice (perte) net(te) réalisé(e) au cours de la période	-215 175.79
Variations des plus- (moins-) values non-réalisées (note 1)
Bénéfice (perte) réalisé(e) de change réalisé(e)	633 209.47
Plus- (Moins-) value non réalisée sur titres évalués à la valeur de marché hors options	-361 667.05
Plus- (Moins-) value non réalisée sur options	12 989.83
Plus- (Moins-) value non réalisée sur instruments du marché monétaire et titres évalués en fonction des rendements	-19 893.13
Plus- (Moins-) value non réalisée sur contrats financiers à terme	-190 708.47
Plus- (Moins-) value non réalisée sur contrats de change à terme	167 769.11
Total des Variations des plus- (moins-) values non-réalisées	1 221 787.75
Augmentation/(diminution) nette de l’actif net issue de l’activité	1 006 611.96
Plus- (Moins-) value non réalisée sur swaps	1 613 297.46
* Au 30 septembre 2021, des avoirs en banque ont été utilisés à titre de garantie, à hauteur de 76 000.00 EUR en faveur de JP Morgan et à hauteur de 410 000.00 EUR en faveur de Bank of America.
UBS (Lux) Bond Fund – EUR Flexible Rapport semestriel au 30 septembre 2021
| Variations de l’actif net |  |
| --- | --- |
|  |  | EUR |
|  |  | 1.4.2021-30.9.2021 |
| Actif net au début de la période |  | 217 572 340.82 |
| Souscriptions |  | 43 395 277.28 |
| Rachats |  | 	-49 612 654.93	 |
| Souscriptions (Rachats) net(te)s |  | -6 217 377.65 |
| Dividendes versés |  | -631 815.57 |
| Revenus (Pertes) net(te)s des investissements |  | 2 097 495.07 |
| Total des Bénéfices (pertes) réalisé(e)s |  | -2 312 670.86 |
| Total des Variations des plus- (moins-) values non-réalisées |  | 	1 221 787.75	 |
| Augmentation/(diminution) nette de l’actif net issue de l’activité |  | 1 006 611.96 |
| Actifs nets à la fin de la période |  | 211 729 759.56 |
| Evolution des parts en circulation |  |  |
|  |  | 1.4.2021-30.9.2021 |
| Catégorie |  | I-A1-acc |
| Nombre de parts en circulation au début de la période |  | 54 696.3930 |
| Nombre de parts émises |  | 334 907.4650 |
| Nombre de parts rachetées |  | -25 333.6470 |
| Nombre de parts en circulation à la fin de la période |  | 364 270.2110 |
| Catégorie |  | P-2%-qdist |
| Nombre de parts en circulation au début de la période |  | 806.2500 |
| Nombre de parts émises |  | 0.0000 |
| Nombre de parts rachetées |  | -291.6450 |
| Nombre de parts en circulation à la fin de la période |  | 514.6050 |
| Catégorie |  | P-acc |
| Nombre de parts en circulation au début de la période |  | 286 619.8160 |
| Nombre de parts émises |  | 4 568.6780 |
| Nombre de parts rachetées |  | -20 412.6580 |
| Nombre de parts en circulation à la fin de la période |  | 270 775.8360 |
| Catégorie |  | P-dist |
| Nombre de parts en circulation au début de la période |  | 311 310.6320 |
| Nombre de parts émises |  | 6 537.6770 |
| Nombre de parts rachetées |  | -16 779.7330 |
| Nombre de parts en circulation à la fin de la période |  | 301 068.5760 |
| Catégorie |  | Q-acc |
| Nombre de parts en circulation au début de la période |  | 215 974.4560 |
| Nombre de parts émises |  | 33 714.8400 |
| Nombre de parts rachetées |  | -206 076.0490 |
| Nombre de parts en circulation à la fin de la période |  | 43 613.2470 |
| Catégorie |  | Q-dist |
| Nombre de parts en circulation au début de la période |  | 12 500.5400 |
| Nombre de parts émises |  | 933.9930 |
| Nombre de parts rachetées |  | -1 374.6370 |
| Nombre de parts en circulation à la fin de la période |  | 12 059.8960 |
| Distribution annuelle 1 |  |  |
| UBS (Lux) Bond Fund – EUR Flexible	Date de détachement | Date de versement | Devise	Montant par part |
| P-dist	1.6.2021 | 4.6.2021 | EUR	1.97 |
| Q-dist	1.6.2021 | 4.6.2021 | EUR	2.05 |
| Distribution trimestrielle 1 |  |  |
| UBS (Lux) Bond Fund – EUR Flexible	Date de détachement | Date de versement | Devise	Montant par part |
| P-2%-qdist	12.4.2021 | 15.4.2021 | EUR	0.52 |
| P-2%-qdist	12.7.2021 | 15.7.2021 | EUR	0.52 |
| 1  Voir note 4 |  |  |

UBS (Lux) Bond Fund – EUR Flexible Rapport semestriel au 30 septembre 2021

## Etat du portefeuille-titres et autres actifs nets au 30 septembre 2021
| Dénomination | Quantité/ | Evaluation en EUR | 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 |  |  |  |
| EUR |  |  |  |
| EUR	ALTICE FINCO SA-REG-S 4.75000% 17-15.01.28 | 330 000.00 | 313 585.80 | 0.15 |
| EUR	ALTICE FRANCE HOLDING SA-REG-S 8.00000% 19-15.05.27 | 195 000.00 | 207 480.00 | 0.10 |
| EUR	ALTICE FRANCE-REG-S 5.87500% 18-01.02.27 | 600 000.00 | 627 216.00 | 0.30 |
| EUR	AMERICAN EXPRESS CREDIT CORP 0.62500% 16-22.11.21 | 100 000.00 | 100 073.60 | 0.05 |
| EUR	ANHEUSER-BUSCH INBEV SA/NV-REG-S 3.70000% 20-02.04.40 | 100 000.00 | 133 814.22 | 0.06 |
| EUR	ARDAGH PACKAGING FINANCE/MP-REG-S 2.12500% 19-15.08.26 | 200 000.00 | 200 000.00 | 0.09 |
| EUR	ARGENTINA, REPUBLIC OF 0.12500% 20-09.07.30 | 679 000.00 | 244 440.00 | 0.12 |
| EUR	ARGENTINA, REPUBLIC OF 0.50000% 20-09.07.29 | 22 046.00 | 8 465.67 | 0.00 |
| EUR	AT&T INC 0.80000% 19-04.03.30 | 460 000.00 | 462 946.76 | 0.22 |
| EUR	BACARDI LTD-REG-S 2.75000% 13-03.07.23 | 100 000.00 | 104 696.00 | 0.05 |
| EUR	BP CAPITAL MARKETS PLC-REG-S 1.87600% 20-07.04.24 | 700 000.00 | 735 672.00 | 0.35 |
| EUR	BULGARIAN ENERGY HOLDING EAD-REG-S 2.45000% 21-22.07.28 | 410 000.00 | 411 312.00 | 0.19 |
| EUR	CHILE, REPUBLIC OF 0.83000% 19-02.07.31 | 700 000.00 | 697 725.00 | 0.33 |
| EUR	CHINA, PEOPLE’S REPUBLIC OF-REG-S 1.00000% 19-12.11.39 | 435 000.00 | 430 187.82 | 0.20 |
| EUR	CORP ANDINA DE FOMENTO-REG-S 0.25000% 21-04.02.26 | 1 010 000.00 | 1 010 735.28 | 0.48 |
| EUR	FISERV INC 1.62500% 19-01.07.30 | 395 000.00 | 423 263.91 | 0.20 |
| EUR	GOLDMAN SACHS GROUP INC-REG-S 3.37500% 20-27.03.25 | 815 000.00 | 908 395.74 | 0.43 |
| EUR	GTC AURORA LUXEMBOURG SA-REG-S 2.25000% 21-23.06.26 | 245 000.00 | 249 064.06 | 0.12 |
| EUR	INDONESIA, REPUBLIC OF 1.40000% 19-30.10.31 | 400 000.00 | 406 200.00 | 0.19 |
| EUR	INTERNATIONAL GAME TECHNOLOGY PLC-REG-S 2.37500% 19-15.04.28 | 160 000.00 | 157 800.00 | 0.07 |
| EUR	JAGUAR LAND ROVER AUTOMOTIVE PLC-REG-S 4.50000% 18-15.01.26 | 300 000.00 | 303 750.00 | 0.14 |
| EUR	JAGUAR LAND ROVER AUTOMOTIVE PLC-REG-S 4.50000% 21-15.07.28 | 295 000.00 | 290 798.02 | 0.14 |
| EUR	LOXAM SAS-REG-S 3.75000% 19-15.07.26 | 400 000.00 | 408 600.00 | 0.19 |
| EUR	LVMH MOET HENNESSY LOUIS VUITTON-REG-S 0.12500% 20-11.02.28 | 200 000.00 | 201 204.00 | 0.10 |
| EUR	LVMH MOET HENNESSY LOUIS VUITTON-REG-S 0.37500% 20-11.02.31 | 100 000.00 | 100 989.00 | 0.05 |
| EUR	MACIF-REG-S-SUB 0.62500% 21-21.06.27 | 200 000.00 | 198 638.00 | 0.09 |
| EUR	NATIONAL GRID ELECTRICITY TRANS-REG-S 0.19000% 20-20.01.25 | 100 000.00 | 100 649.00 | 0.05 |
| EUR	NETFLIX INC 3.62500% 17-15.05.27 | 200 000.00 | 231 000.00 | 0.11 |
| EUR	PERU, REPUBLIC OF 0.12500% 21-11.03.33 | 400 000.00 | 386 000.00 | 0.18 |
| EUR	PETROBRAS GLOBAL FINANCE BV 4.75000% 14-14.01.25 | 300 000.00 | 335 587.50 | 0.16 |
| EUR	SAUDI GOVERNMENT INTERNATIONAL BD-REG-S 0.75000% 19-09.07.27 | 700 000.00 | 717 150.00 | 0.34 |
| EUR	TELE COLUMBUS AG-REG-S 3.87500% 18-02.05.25 | 560 000.00 | 561 400.00 | 0.27 |
| EUR	TRITAX EUROBOX PLC-REG-S 0.95000% 21-02.06.26 | 140 000.00 | 141 528.10 | 0.07 |
| EUR	TURKEY, REPUBLIC OF 4.37500% 21-08.07.27 | 600 000.00 | 594 351.60 | 0.28 |
| EUR	UKRAINE, GOVERNMENT OF-REG-S 4.37500% 20-27.01.30 | 600 000.00 | 556 500.00 | 0.26 |
| EUR	UNILABS SUBHOLDING AB-REG-S 5.75000% 17-15.05.25 | 400 000.00 | 406 160.00 | 0.19 |
| EUR	VANTAGE TOWERS AG-REG-S 0.37500% 21-31.03.27 | 300 000.00 | 299 724.00 | 0.14 |
| EUR	VEB FINANCE PLC-REG-S LPN 4.03200% 13-21.02.23 | 610 000.00 | 636 801.87 | 0.30 |
| EUR	VERISURE MIDHOLDING AB-REG-S 5.25000% 21-15.02.29 | 145 000.00 | 148 752.60 | 0.07 |
| Total EUR |  | 14 452 657.55 | 6.83 |
| GBP |  |  |  |
| GBP	CPUK FINANCE LTD-REG-S 4.50000% 21-28.08.27 | 110 000.00 | 130 084.11 | 0.06 |
| Total GBP |  | 130 084.11 | 0.06 |
| USD |  |  |  |
| USD	AERCAP IRELAND CAP/ GLBL AVIATION TRUST 6.50000% 20-15.07.25 | 150 000.00 | 150 058.46 | 0.07 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 4.25000% 12-26.01.23 | 800 000.00 | 703 999.30 | 0.33 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 7.15800% 15-12.03.45 | 740 000.00 | 638 628.71 | 0.30 |
| USD	ECUADOR GOVT INTERNATIONAL BD-REG-S STEP-UP/DOWN 20-31.07.35 | 198 120.00 | 111 116.10 | 0.05 |
| USD	ECUADOR, REPUBLIC OF-REG-S STEP-UP 0.50000% 20-31.07.30 | 75 600.00 | 54 631.34 | 0.03 |
| USD	ECUADOR, REPUBLIC OF-REG-S STEP-UP 20-31.07.40 | 90 800.00 | 45 382.37 | 0.02 |
| USD	EQT CORP 3.90000% 17-01.10.27 | 430 000.00 | 401 534.92 | 0.19 |
| USD	GENERAL ELECTRIC CO 3.45000% 20-01.05.27 | 60 000.00 | 56 779.99 | 0.03 |
| USD	GUATEMALA, REPUBLIC OF-REG-S 4.87500% 13-13.02.28 | 400 000.00 | 371 953.05 | 0.18 |
| USD	MEITUAN DIANPING-REG-S 3.05000% 20-28.10.30 | 700 000.00 | 559 186.12 | 0.26 |
| USD	OMAN GOVT INTERNATIONAL BOND-REG-S 6.75000% 18-17.01.48 | 760 000.00 | 646 462.31 | 0.31 |
| USD	PEGASUS HAVA TASIMACILIGI AS-REG-S 9.25000% 21-30.04.26 | 260 000.00 | 236 679.76 | 0.11 |
| USD	PLAINS ALL AMERICAN PIPELINE LP 3.80000% 20-15.09.30 | 135 000.00 | 124 358.48 | 0.06 |
| USD	SANTOS FINANCE LTD-REG-S 3.64900% 21-29.04.31 | 320 000.00 | 281 167.83 | 0.13 |
| USD	SHIMAO PROPERTY HOLDINGS LTD-REG-S 3.45000% 21-11.01.31 | 200 000.00 | 153 587.30 | 0.07 |
| USD	SHIMAO PROPERTY HOLDINGS LTD-REG-S 5.20000% 21-16.01.27 | 200 000.00 | 166 745.76 | 0.08 |
| USD	UKRAINE, GOVERNMENT OF-REG-S 7.37500% 17-25.09.32 | 560 000.00 | 492 799.52 | 0.23 |
| USD	URUGUAY, REPUBLIC OF 4.12500% 12-20.11.45 | 600 000.00 | 603 552.79 | 0.29 |
| USD	VISTRA OPERATIONS CO LLC-144A 4.37500% 21-01.05.29 | 80 000.00 | 69 451.14 | 0.03 |
| USD	WASTE CONNECTIONS INC 2.95000% 21-15.01.52 | 220 000.00 | 185 736.77 | 0.09 |
| Total USD |  | 6 053 812.02 | 2.86 |
| Total des Billets, taux fixe |  | 20 636 553.68 | 9.75 |
| Billets, coupon zéro |  |  |  |
| USD |  |  |  |
| USD	ECUADOR, REPUBLIC OF-REG-S 0.00000% 20-31.07.30 | 16 232.00 | 7 283.01 | 0.00 |
| Total USD |  | 7 283.01 | 0.00 |
| Total des Billets, coupon zéro |  | 7 283.01 | 0.00 |
| Billets, taux variable |  |  |  |
| EUR |  |  |  |
| EUR	ABANCA CORP BANCARIA SA-REG-S-SUB VAR 21-PRP | 200 000.00 | 214 750.40 | 0.10 |
| EUR	AUSTRALIA & NZ BANKING GRP-REG-S-SUB 1.125%/VAR 19-21.11.29 | 200 000.00 | 204 730.00 | 0.10 |
| EUR	BARCLAYS PLC-REG-S 0.577%VAR 21-09.08.29 | 605 000.00 | 597 301.98 | 0.28 |
| EUR	BRITISH AMERICAN TOBACCO PLC-REG-S -SUB 3.750%/VAR 21-PRP | 375 000.00 | 372 562.50 | 0.18 |
| EUR	ENI SPA-REG-S-SUB 3.375%/VAR 20-PRP | 100 000.00 | 106 530.00 | 0.05 |
| EUR	MORGAN STANLEY 0.406%VAR 21-29.10.27 | 1 100 000.00 | 1 105 500.00 | 0.52 |

UBS (Lux) Bond Fund – EUR Flexible Rapport semestriel au 30 septembre 2021
|  | Dénomination | Quantité/ | Evaluation en EUR | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Plus- (Moins-) value non- | des |
|  |  | réalisée sur Futures/ | actifs |
|  |  | Contrats de | nets |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| EUR | RAKUTEN GROUP INC-REG-S-SUB 4.250%VAR 21-PRP | 425 000.00 | 428 292.35 | 0.20 |
| EUR | WESTPAC BANKING CORP-REG-SUB 0.766%/VAR 21-13.05.31 | 500 000.00 | 500 065.75 | 0.24 |
| EUR | WINTERSHALL DEA FINANCE 2BV-REG-S-SUB 3.000%/VAR 21-PRP | 800 000.00 | 792 267.20 | 0.37 |
| Total EUR |  |  | 4 322 000.18 | 2.04 |
| USD |  |  |  |  |
| USD | ALLIANZ SE-REG-S-SUB 3.500%/VAR 20-PRP | 200 000.00 | 174 589.07 | 0.08 |
| Total USD |  |  | 174 589.07 | 0.08 |
| Total des Billets, taux variable |  | 4 496 589.25 | 2.12 |
| Medium-Term Notes, taux fixe |  |  |  |
| AUD |  |  |  |
| AUD	QANTAS AIRWAYS LTD 3.15000% 21-27.09.28 | 220 000.00 | 135 507.61 | 0.06 |
| Total AUD |  | 135 507.61 | 0.06 |
| EUR |  |  |  |
| EUR	ABERTIS INFRAESTRUCTURAS SA-REG-S 2.37500% 19-27.09.27 | 100 000.00 | 109 938.80 | 0.05 |
| EUR	ABN AMRO BANK NV-REG-S 1.25000% 18-10.01.33 | 500 000.00 | 554 925.00 | 0.26 |
| EUR	AEROPORTI DI ROMA SPA-REG-S 1.75000% 21-30.07.31 | 215 000.00 | 222 778.70 | 0.11 |
| EUR	AKER BP ASA-REG-S 1.12500% 21-12.05.29 | 100 000.00 | 100 679.37 | 0.05 |
| EUR	ANHEUSER-BUSCH INBEV SA/NV-REG-S 1.15000% 18-22.01.27 | 200 000.00 | 210 334.14 | 0.10 |
| EUR	AROUNDTOWN SA-REG-S 2.00000% 18-02.11.26 | 100 000.00 | 108 192.00 | 0.05 |
| EUR	ASTRAZENECA PLC-REG-S 0.37500% 21-03.06.29 | 185 000.00 | 184 915.27 | 0.09 |
| EUR	AURIZON NETWORK PTY LTD-REG-S 2.00000% 14-18.09.24 | 100 000.00 | 105 994.91 | 0.05 |
| EUR	AUTOSTRADE PER L’ITALIA SPA-REG-S 1.12500% 15-04.11.21 | 100 000.00 | 100 000.00 | 0.05 |
| EUR	BANCO BILBAO VIZCAYA ARGENTARIA SA 0.62500% 16-18.03.23 | 1 000 000.00 | 1 015 262.00 | 0.48 |
| EUR	BANCO BPM SPA 2.50000% 19-21.06.24 | 400 000.00 | 422 020.00 | 0.20 |
| EUR	BANCO DE SABADELL SA-REG-S-SUB 2.50000% 21-15.04.31 | 600 000.00 | 609 456.00 | 0.29 |
| EUR	BANCO SANTANDER SA-REG-S-SUB 3.25000% 16-04.04.26 | 100 000.00 | 112 321.00 | 0.05 |
| EUR	BANK OF IRELAND GROUP PLC-REG-S 1.37500% 18-29.08.23 | 255 000.00 | 262 099.20 | 0.12 |
| EUR	BANQUE FEDER DU CREDIT MUTUEL-REG-S-SUB 3.00000% 15-11.09.25 | 200 000.00 | 221 837.20 | 0.10 |
| EUR	BAT INTERNATIONAL FINANCE PLC-REG-S 0.87500% 15-13.10.23 | 200 000.00 | 203 138.40 | 0.10 |
| EUR	BAT INTERNATIONAL FINANCE PLC-REG-S 1.25000% 15-13.03.27 | 300 000.00 | 308 664.00 | 0.15 |
| EUR	BNP PARIBAS-REG-S-SUB 2.87500% 16-01.10.26 | 2 400 000.00 | 2 687 136.00 | 1.27 |
| EUR	BPCE SA-REG-S 1.37500% 18-23.03.26 | 300 000.00 | 315 145.20 | 0.15 |
| EUR	CANAL DE ISABEL II GESTION SA-REG-S 1.68000% 15-26.02.25 | 400 000.00 | 421 525.00 | 0.20 |
| EUR	CELLNEX FINANCE CO SA-REG-S 1.50000% 21-08.06.28 | 500 000.00 | 500 557.00 | 0.24 |
| EUR	CELLNEX FINANCE CO SA-REG-S 2.00000% 21-15.09.32 | 400 000.00 | 391 688.00 | 0.18 |
| EUR	CITIGROUP INC-REG-S 2.37500% 14-22.05.24 | 300 000.00 | 320 187.00 | 0.15 |
| EUR	CNH INDUSTRIAL FINANCE EUROPE SA-REG-S 1.87500% 18-19.01.26 | 305 000.00 | 325 093.56 | 0.15 |
| EUR	COMMERZBANK AG-REG-S 0.62500% 19-28.08.24 | 165 000.00 | 168 291.17 | 0.08 |
| EUR	CPI PROPERTY GROUP SA-REG-S 2.75000% 20-12.05.26 | 155 000.00 | 169 785.45 | 0.08 |
| EUR	CREDIT AGRICOLE SA LONDON-REG-S 1.37500% 18-13.03.25 | 300 000.00 | 313 743.00 | 0.15 |
| EUR	CTP BV-REG-S 0.50000% 21-21.06.25 | 295 000.00 | 296 502.73 | 0.14 |
| EUR	DAIMLER AG-REG-S 2.00000% 20-22.08.26 | 175 000.00 | 191 485.00 | 0.09 |
| EUR	DANSKE BANK AS-REG-S 1.37500% 19-24.05.22 | 250 000.00 | 252 811.00 | 0.12 |
| EUR	DANSKE BANK AS-REG-S-SUB 1.50000% 20-02.09.30 | 120 000.00 | 122 996.64 | 0.06 |
| EUR	DEUTSCHE BANK AG-REG-S 1.12500% 18-30.08.23 | 480 000.00 | 492 253.01 | 0.23 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 2.00000% 21-14.07.24 | 400 000.00 | 407 322.40 | 0.19 |
| EUR	DNB BANK ASA-REG-S 0.05000% 19-14.11.23 | 335 000.00 | 337 810.65 | 0.16 |
| EUR	EDP FINANCE BV-REG-S 1.50000% 17-22.11.27 | 270 000.00 | 289 263.96 | 0.14 |
| EUR	EGYPT, REPUBLIC OF-REG-S 6.37500% 19-11.04.31 | 400 000.00 | 391 000.00 | 0.18 |
| EUR	ELECTRICITE DE FRANCE-REG-S 1.87500% 16-13.10.36 | 2 600 000.00 | 2 845 882.00 | 1.34 |
| EUR	ELENIA VERKKO OYJ-REG-S 0.37500% 20-06.02.27 | 100 000.00 | 100 334.80 | 0.05 |
| EUR	ELIA TRANSMISSION BELGIUM SA-REG-S 0.87500% 20-28.04.30 | 100 000.00 | 102 873.14 | 0.05 |
| EUR	EUROPEAN FINANCIAL STABILITY FAC-REG-S 1.80000% 17-10.07.48 | 1 700 000.00 | 2 192 731.40 | 1.04 |
| EUR	EUROPEAN STABILITY MECHANISM-REG-S 0.50000% 16-02.03.26 | 1 500 000.00 | 1 556 727.00 | 0.74 |
| EUR	FMS WERTMANAGEMENT 0.37500% 15-29.04.30 | 1 800 000.00 | 1 846 720.80 | 0.87 |
| EUR	FORD MOTOR CREDIT CO LLC 3.02100% 19-06.03.24 | 250 000.00 | 260 578.00 | 0.12 |
| EUR	GE CAPITAL EUROPEAN FUNDING 4.62500% 07-22.02.27 | 1 550 000.00 | 1 900 710.60 | 0.90 |
| EUR	GENERAL MOTORS FINANCIAL CO INC-REG-S 1.69400% 18-26.03.25 | 500 000.00 | 523 534.00 | 0.25 |
| EUR	GLENCORE FINANCE EUROPE SA-REG-S 1.75000% 15-17.03.25 | 200 000.00 | 209 414.80 | 0.10 |
| EUR	GLOBALWORTH REAL ESTATE INVEST-REG-S 3.00000% 18-29.03.25 | 100 000.00 | 106 956.25 | 0.05 |
| EUR	GOLDMAN SACHS GROUP INC-REG-S 2.00000% 18-01.11.28 | 410 000.00 | 451 282.90 | 0.21 |
| EUR	HEIDELBERGCEMENT FIN LUX SA-REG-S 1.12500% 19-01.12.27 | 80 000.00 | 83 696.00 | 0.04 |
| EUR	KAZAKHSTAN, REPUBLIC OF-REG-S 2.37500% 18-09.11.28 | 800 000.00 | 889 400.00 | 0.42 |
| EUR	KBC GROUP NV-REG-S 1.12500% 19-25.01.24 | 200 000.00 | 206 370.00 | 0.10 |
| EUR	KREDITANSTALT FUER WIEDERAUFBAU-REG-S 0.37500% 15-23.04.30 | 2 000 000.00 | 2 074 588.00 | 0.98 |
| EUR	MEXICO, UNITED STATES OF 3.00000% 15-06.03.45 | 200 000.00 | 207 912.50 | 0.10 |
| EUR	NATIONAL AUSTRALIA BANK LTD 1.87500% 12-13.01.23 | 500 000.00 | 514 825.00 | 0.24 |
| EUR	NEW YORK LIFE GLOBAL FUNDING-REG-S 0.25000% 20-23.01.27 | 390 000.00 | 393 120.00 | 0.19 |
| EUR	PETROLEOS MEXICANOS-REG-S 3.75000% 17-21.02.24 | 300 000.00 | 309 993.75 | 0.15 |
| EUR	PHILIP MORRIS INTERNATIONAL INC 2.87500% 14-03.03.26 | 1 450 000.00 | 1 626 235.90 | 0.77 |
| EUR	PHILIPPINES, REPUBLIC OF THE 0.87500% 19-17.05.27 | 500 000.00 | 509 000.00 | 0.24 |
| EUR	POLAND, REPUBLIC OF-REG-S 2.00000% 19-08.03.49 | 560 000.00 | 690 655.00 | 0.33 |
| EUR	PPF ARENA 1 BV-REG-S 2.12500% 19-31.01.25 | 450 000.00 | 463 568.40 | 0.22 |
| EUR	RABOBANK NEDERLAND NV-REG-S 1.50000% 18-26.04.38 | 1 500 000.00 | 1 743 625.95 | 0.82 |
| EUR	REDEXIS GAS FINANCE BV-REG-S 1.87500% 15-27.04.27 | 600 000.00 | 642 788.40 | 0.30 |
| EUR	REN FINANCE B V-REG-S 2.50000% 15-12.02.25 | 400 000.00 | 433 958.40 | 0.20 |
| EUR	ROBERT BOSCH GMBH-REG-S 1.75000% 14-08.07.24 | 1 500 000.00 | 1 583 790.00 | 0.75 |
| EUR	ROMANIA-REG-S 4.62500% 19-03.04.49 | 1 000 000.00 | 1 170 500.00 | 0.55 |
| EUR	RYANAIR DAC-REG-S 0.87500% 21-25.05.26 | 335 000.00 | 340 285.63 | 0.16 |
| EUR	SVENSKA HANDELSBANKEN AB-REG-S 1.00000% 20-15.04.25 | 145 000.00 | 151 005.90 | 0.07 |
| EUR	TOTAL CAPITAL INTERNATIONAL SA-REG-S 1.99400% 20-08.04.32 | 100 000.00 | 114 477.80 | 0.05 |
| EUR	TRATON FINANCE LUXEMBOURG SA-REG-S 1.25000% 21-24.03.33 | 300 000.00 | 301 998.00 | 0.14 |
| EUR	UBS GROUP AG-REG-S 1.25000% 16-01.09.26 | 900 000.00 | 943 416.00 | 0.45 |
| EUR	UNION FENOSA FINANCE BV-REG-S 1.25000% 20-15.01.26 | 200 000.00 | 209 931.62 | 0.10 |
| EUR	VODAFONE GROUP PLC-REG-S 1.60000% 16-29.07.31 | 300 000.00 | 323 211.00 | 0.15 |
| EUR	VODAFONE GROUP PLC-REG-S 2.50000% 19-24.05.39 | 150 000.00 | 173 565.00 | 0.08 |
| EUR	VOLKSWAGEN FINANCIAL SERVICES AG-REG-S 1.50000% 19-01.10.24 | 680 000.00 | 709 260.40 | 0.33 |
| EUR	VONOVIA SE-REG-S 0.37500% 21-16.06.27 | 300 000.00 | 300 061.20 | 0.14 |
| EUR	VONOVIA SE-REG-S 1.62500% 21-01.09.51 | 200 000.00 | 186 492.00 | 0.09 |

UBS (Lux) Bond Fund – EUR Flexible Rapport semestriel au 30 septembre 2021
|  | Dénomination | Quantité/ | Evaluation en EUR | en % |
| --- | --- | --- | --- | --- |
|  |  | Nominal | Plus- (Moins-) value non- | des |
|  |  |  | réalisée sur Futures/ | actifs |
|  |  |  | Contrats de | nets |
|  |  |  | change à terme/ |  |
|  |  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| EUR | WESTPAC BANKING CORP-REG-S 0.37500% 19-02.04.26 | 600 000.00 | 614 794.38 | 0.29 |
| EUR | WESTPAC BANKING CORP-REG-S 0.01000% 21-22.09.28 | 925 000.00 | 922 049.25 | 0.44 |
| EUR | ZF FINANCE GMBH-REG-S 3.75000% 20-21.09.28 | 300 000.00 | 327 000.00 | 0.15 |
| Total EUR |  |  | 44 506 473.93 | 21.02 |
| GBP |  |  |  |  |
| GBP | AA BOND CO LTD-REG-S 3.25000% 21-31.07.28 | 100 000.00 | 118 823.26 | 0.06 |
| Total GBP |  |  | 118 823.26 | 0.06 |
| USD |  |  |  |  |
| USD | INDIAN RAILWAY FINANCE CORP LTD-REG-S 2.80000% 21-10.02.31 | 585 000.00 | 486 954.01 | 0.23 |
| USD | MONGOLIA,GOVERNMENT OF-REG-S 8.75000% 17-09.03.24 | 500 000.00 | 487 860.78 | 0.23 |
| USD | PERTAMINA PERSERO PT-REG-S 4.70000% 19-30.07.49 | 215 000.00 | 199 229.09 | 0.10 |
| USD | QTEL INTERNATIONAL FINANCE LTD-REG-S 2.62500% 21-08.04.31 | 200 000.00 | 176 021.40 | 0.08 |
| USD | REC LTD-REG-S 2.25000% 21-01.09.26 | 560 000.00 | 470 753.70 | 0.22 |
| Total USD |  |  | 1 820 818.98 | 0.86 |
| Total des Medium-Term Notes, taux fixe |  | 46 581 623.78 | 22.00 |
| Medium-Term Notes, coupon zéro |  |  |  |
| EUR |  |  |  |
| EUR	SIEMENS FINANCIERINGSMAATSCH NV-REG-S 0.00000% 20-20.02.23 | 400 000.00 | 402 092.00 | 0.19 |
| Total EUR |  | 402 092.00 | 0.19 |
| Total des Medium-Term Notes, coupon zéro |  | 402 092.00 | 0.19 |
| Medium-Term Notes, taux variable |  |  |  |
| EUR |  |  |  |
| EUR	AXA SA-REG-S-SUB 3.250%/VAR 18-28.05.49 | 100 000.00 | 114 387.60 | 0.05 |
| EUR	BANK OF AMERICA CORP-REG-S 0.808%/VAR 19-09.05.26 | 900 000.00 | 924 021.00 | 0.44 |
| EUR	BANK OF AMERICA CORP-REG-S 3.648%/VAR 20-31.03.29 | 330 000.00 | 395 811.24 | 0.19 |
| EUR	BARCLAYS PLC-REG-S 3.375%/VAR 20-02.04.25 | 170 000.00 | 183 943.96 | 0.09 |
| EUR	COMMONWEALTH BK OF AUSTRLIA-REG-S-SUB 1.936%/VAR 17-03.10.29 | 200 000.00 | 209 414.00 | 0.10 |
| EUR	CREDIT AGRICOLE SA-REG-S 1.000%/VAR 20-22.04.26 | 700 000.00 | 721 308.00 | 0.34 |
| EUR	CREDIT SUISSE GROUP AG-REG-S 3.250%/VAR 20-02.04.26 | 100 000.00 | 110 128.00 | 0.05 |
| EUR	DEUTSCHE BANK AG-REG-S 1.000%/VAR 20-19.11.25 | 200 000.00 | 204 290.00 | 0.10 |
| EUR	DEUTSCHE BANK AG-REG-S 1.750%/VAR 20-19.11.30 | 200 000.00 | 210 460.00 | 0.10 |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S-SUB 2.625%/VAR 18-PRP | 100 000.00 | 105 071.00 | 0.05 |
| EUR	ING GROEP NV-SUB 3.000%/VAR 17-11.04.28 | 600 000.00 | 626 958.00 | 0.29 |
| EUR	LLOYDS BANKING GROUP PLC-REG-S 3.500%/VAR 20-01.04.26 | 115 000.00 | 128 639.00 | 0.06 |
| EUR	NATWEST GROUP PLC-REG-S 2.000%/VAR 18-04.03.25 | 400 000.00 | 419 030.40 | 0.20 |
| EUR	NATWEST GROUP PLC-REG-S-SUB 1.043%/VAR 21-14.09.32 | 270 000.00 | 268 937.82 | 0.13 |
| EUR	TOTAL SE-REG-S-SUB 2.625%/VAR 15-PRP | 100 000.00 | 105 328.60 | 0.05 |
| EUR	TOTAL SE-REG-S-SUB 2.125%/VAR 21-PRP | 510 000.00 | 498 518.88 | 0.23 |
| EUR	VIRGIN MONEY UK PLC-REG-S 0.000%/VAR 21-27.05.24 | 230 000.00 | 231 863.00 | 0.11 |
| Total EUR |  | 5 458 110.50 | 2.58 |
| Total des Medium-Term Notes, taux variable |  | 5 458 110.50 | 2.58 |
| Obligations, taux fixe |  |  |  |
| EUR |  |  |  |
| EUR	ABBOTT IRELAND FINCING DAC-REG-S 0.87500% 18-27.09.23 | 225 000.00 | 230 197.50 | 0.11 |
| EUR	ADLER REAL ESTATE AG-REG-S 3.00000% 18-27.04.26 | 400 000.00 | 349 600.00 | 0.16 |
| EUR	ADO PROPERTIES SA-REG-S 1.50000% 17-26.07.24 | 100 000.00 | 87 750.00 | 0.04 |
| EUR	ALSTRIA OFFICE REIT-AG-REG-S 1.50000% 20-23.06.26 | 200 000.00 | 208 328.80 | 0.10 |
| EUR	ALTRIA GROUP INC 2.20000% 19-15.06.27 | 400 000.00 | 430 718.40 | 0.20 |
| EUR	APPLE INC 1.37500% 17-24.05.29 | 500 000.00 | 544 264.00 | 0.26 |
| EUR	AROUNDTOWN SA-REG-S 0.37500% 19-23.09.22 | 100 000.00 | 100 452.60 | 0.05 |
| EUR	AUSTRIA, REPUBLIC OF 2.40000% 13-23.05.34 | 2 500 000.00 | 3 189 580.00 | 1.51 |
| EUR	AUTOSTRADE PER L’ITALIA SPA REG-S 2.00000% 21-15.01.30 | 455 000.00 | 477 067.50 | 0.23 |
| EUR	BELGIUM, KINGDOM OF-144A-REG-S 1.90000% 15-22.06.38 | 2 700 000.00 | 3 300 442.20 | 1.56 |
| EUR	BNZ INTERNATIONAL FUND LTD/LONDON 0.50000% 17-03.07.24 | 900 000.00 | 919 908.00 | 0.43 |
| EUR	BPCE SA-REG-S 0.25000% 20-15.01.26 | 200 000.00 | 201 644.00 | 0.10 |
| EUR	BRISTOL MYERS SQUIBB CO 1.75000% 15-15.05.35 | 200 000.00 | 225 256.40 | 0.11 |
| EUR	CAIXABANK SA-REG-S 1.12500% 15-05.08.22 | 1 000 000.00 | 1 013 148.00 | 0.48 |
| EUR	CELANESE US HOLDINGS LLC 0.62500% 21-10.09.28 | 180 000.00 | 178 937.64 | 0.08 |
| EUR	CHUBB INA HOLDINGS INC 2.50000% 18-15.03.38 | 200 000.00 | 239 038.40 | 0.11 |
| EUR	CNAC HK FINBRIDGE CO LTD-REG-S 1.75000% 18-14.06.22 | 500 000.00 | 505 250.00 | 0.24 |
| EUR	EUROPEAN INVESTMENT BANK 1.00000% 16-14.04.32 | 2 000 000.00 | 2 193 024.00 | 1.04 |
| EUR	EUROPEAN UNION-REG-S 0.10000% 20-04.10.40 | 535 000.00 | 498 596.46 | 0.24 |
| EUR	FINNAIR OYJ-REG-S 4.25000% 21-19.05.25 | 295 000.00 | 304 956.25 | 0.14 |
| EUR	FRANCE, REPUBLIC OF-OAT 4.00000% 06-25.10.38 | 1 910 000.00 | 3 009 090.40 | 1.42 |
| EUR	FRANCE, REPUBLIC OF-OAT 4.50000% 09-25.04.41 | 1 040 000.00 | 1 790 441.12 | 0.85 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 3.25000% 12-25.05.45 | 2 000 000.00 | 3 104 552.00 | 1.47 |
| EUR	FRANCE, REPUBLIC OF-OAT-144A-REG-S 1.50000% 19-25.05.50 | 700 000.00 | 810 247.20 | 0.38 |
| EUR	GERMANY, REPUBLIC OF-REG-S 1.25000% 17-15.08.48 | 1 000 000.00 | 1 262 062.00 | 0.60 |
| EUR	GREECE, HELLENIC REPUBLIC OF-144A-REG-S 1.87500% 19-23.07.26 | 2 210 000.00 | 2 394 259.19 | 1.13 |
| EUR	IMPERIAL BRANDS FINANCE PLC-REG-S 1.37500% 17-27.01.25 | 900 000.00 | 928 569.60 | 0.44 |
| EUR	INEOS QUATTRO FINANCE 2 PLC-REG-S 2.50000% 21-15.01.26 | 200 000.00 | 201 744.40 | 0.10 |
| EUR	INTERNATIONAL BUSINESS MACHINES CORP 0.37500% 19-31.01.23 | 300 000.00 | 302 922.60 | 0.14 |
| EUR	INTERNATIONAL BUSINESS MACHINES CORP 1.25000% 19-29.01.27 | 200 000.00 | 211 636.00 | 0.10 |
| EUR	INTRUM JUSTITIA AB-REG-S 3.12500% 17-15.07.24 | 400 000.00 | 402 020.00 | 0.19 |
| EUR	IRELAND, REPUBLIC OF-REG-S 1.70000% 17-15.05.37 | 730 000.00 | 861 662.80 | 0.41 |
| EUR	ITALY, REPUBLIC OF-BTP-144A-REG-S 3.250% 14-01.09.46 | 3 600 000.00 | 4 731 120.00 | 2.23 |
| EUR	ITALY, REPUBLIC OF-BTP-144A-REG-S 1.65000% 15-01.03.32 | 2 600 000.00 | 2 788 656.00 | 1.32 |
| EUR	ITALY, REPUBLIC OF-BTP-144A-REG-S 2.70000% 16-01.03.47 | 1 300 000.00 | 1 561 300.00 | 0.74 |
| EUR	ITALY, REPUBLIC OF-BTP-144A-REG-S 2.25000% 16-01.09.36 | 4 283 000.00 | 4 859 543.19 | 2.29 |
| EUR	ITALY, REPUBLIC OF-BTP 2.05000% 17-01.08.27 | 600 000.00 | 660 960.00 | 0.31 |
| EUR	ITALY, REPUBLIC OF-BTP-REG-S 3.00000% 19-01.08.29 | 200 000.00 | 237 040.00 | 0.11 |
| EUR	MATTERHORN TELECOM SA-REG-S 3.12500% 19-15.09.26 | 330 000.00 | 330 000.00 | 0.16 |
| EUR	MPT OPERATING PARTNERSHIP LP/FIN CORP 3.32500% 17-24.03.25 | 300 000.00 | 325 746.60 | 0.15 |
| EUR	NETHERLANDS, KINGDOM OF THE 4.00000% 05-15.01.37 | 1 200 000.00 | 1 904 380.80 | 0.90 |
| EUR	PERU, REPUBLIC OF 3.75000% 16-01.03.30 | 350 000.00 | 414 378.12 | 0.20 |

UBS (Lux) Bond Fund – EUR Flexible Rapport semestriel au 30 septembre 2021
|  | Dénomination | Quantité/ | Evaluation en EUR | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Plus- (Moins-) value non- | des |
|  |  | réalisée sur Futures/ | actifs |
|  |  | Contrats de | nets |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| EUR | PORTUGAL, REPUBLIC OF-144A-REG-S 2.87500% 15-15.10.25 | 2 000 000.00 | 2 274 751.20 | 1.07 |
| EUR | PORTUGAL, REPUBLIC OF-144A-REG-S 2.25000% 18-18.04.34 | 1 400 000.00 | 1 689 336.60 | 0.80 |
| EUR | RABOBANK NEDERLAND NV-SUB 3.87500% 13-25.07.23 | 3 000 000.00 | 3 218 928.00 | 1.52 |
| EUR | SLOVAKIA, REPUBLIC OF-REG-S 0.75000% 19-09.04.30 | 800 000.00 | 852 819.20 | 0.40 |
| EUR | SLOVENIA, REPUBLIC OF-REG-S 1.50000% 15-25.03.35 | 2 500 000.00 | 2 822 720.00 | 1.33 |
| EUR | SLOVENIA, REPUBLIC OF-REG-S 3.12500% 15-07.08.45 | 750 000.00 | 1 125 178.50 | 0.53 |
| EUR | SPAIN, KINGDOM OF-144A-REG-S 2.90000% 16-31.10.46 | 2 000 000.00 | 2 737 968.00 | 1.29 |
| EUR | SPAIN, KINGDOM OF-144A-REG-S 1.50000% 17-30.04.27 | 100 000.00 | 109 316.73 | 0.05 |
| EUR | SPAIN, KINGDOM OF-144A-REG-S 2.70000% 18-31.10.48 | 2 600 000.00 | 3 457 864.80 | 1.63 |
| EUR | SPAIN, KINGDOM OF-144A-REG-S 1.85000% 19-30.07.35 | 2 826 000.00 | 3 239 647.27 | 1.53 |
| EUR | STANDARD PROFIL AUTOMOTIVE GMBH-REG-S 6.25000% 21-30.04.26 | 470 000.00 | 428 640.00 | 0.20 |
| EUR | TAURON POLSKA ENERGIA SA-REG-S 2.37500% 17-05.07.27 | 200 000.00 | 209 600.00 | 0.10 |
| EUR | TEVA PHARMACEUTICAL FINANCE II BV-REG-S 1.12500% 16-15.10.24 | 200 000.00 | 190 787.50 | 0.09 |
| EUR | UMG GROUPE VYV 1.62500% 19-02.07.29 | 100 000.00 | 106 728.40 | 0.05 |
| EUR | UNITED GROUP BV-REG-S 3.12500% 20-15.02.26 | 335 000.00 | 323 945.00 | 0.15 |
| EUR | UPC HOLDING BV-REG-S 3.87500% 17-15.06.29 | 350 000.00 | 359 247.00 | 0.17 |
| EUR | UTAH ACQUISITION SUB INC-REG-S 3.12500% 16-22.11.28 | 100 000.00 | 115 527.20 | 0.05 |
| EUR | VERIZON COMMUNICATIONS INC 0.87500% 19-08.04.27 | 550 000.00 | 568 714.30 | 0.27 |
| EUR | VOLKSWAGEN INTERNATIONAL FIN NV-REG-S 1.12500% 17-02.10.23 | 600 000.00 | 614 916.00 | 0.29 |
| EUR | VOLKSWAGEN INTERNATIONAL FIN NV-REG-S 4.12500% 18-16.11.38 | 200 000.00 | 275 728.00 | 0.13 |
| EUR | WINTERSHALL DEA FINANCE BV-REG-S 1.33200% 19-25.09.28 | 300 000.00 | 310 651.80 | 0.15 |
| Total EUR |  |  | 73 323 507.67 | 34.63 |
| GBP |  |  |  |  |
| GBP | BELLIS ACQUISITION CO PLC-REG-S 3.25000% 21-16.02.26 | 310 000.00 | 354 245.21 | 0.17 |
| GBP | BERKELEY GROUP PLC/THE-REG-S 2.50000% 21-11.08.31 | 160 000.00 | 180 447.59 | 0.09 |
| GBP | PREMIER FOODS FINANCE PLC-REG-S 3.50000% 21-15.10.26 | 280 000.00 | 327 797.26 | 0.15 |
| GBP | ROTHESAY LIFE PLC-REG-S-SUB 3.37500% 19-12.07.26 | 315 000.00 | 390 465.24 | 0.18 |
| GBP | VERY GROUP FUNDING PLC/THE-REG-S 6.50000% 21-01.08.26 | 450 000.00 | 530 666.09 | 0.25 |
| Total GBP |  |  | 1 783 621.39 | 0.84 |
| MXN |  |  |  |  |
| MXN | MEXICO, UNITED MEXICAN STATES 7.75000% 11-13.11.42 | 1 003 800.00 | 4 163 148.98 | 1.97 |
| Total MXN |  | 4 163 148.98 | 1.97 |
| USD |  |  |  |  |
| USD | BRAZIL, FEDERATIVE REPUBLIC OF 5.62500% 16-21.02.47 | 600 000.00 | 516 027.43 | 0.24 |
| USD | COLOMBIA, REPUBLIC OF 6.12500% 09-18.01.41 | 500 000.00 | 474 513.56 | 0.22 |
| USD | COUNTRY GARDEN HOLDINGS CO LTD-REG-S 2.70000% 21-12.07.26 | 200 000.00 | 159 627.25 | 0.08 |
| USD | MOROCCO, KINGDOM OF THE-REG-S 5.50000% 12-11.12.42 | 500 000.00 | 484 894.74 | 0.23 |
| Total USD |  |  | 1 635 062.98 | 0.77 |
| ZAR |  |  |  |  |
| ZAR | SOUTH AFRICA, REPUBLIC OF 8.75000% 12-28.02.48 | 70 000 000.00 | 3 304 245.65 | 1.56 |
| Total ZAR |  |  | 3 304 245.65 | 1.56 |
| Total des Obligations, taux fixe |  | 84 209 586.67 | 39.77 |
| Obligations, taux variable |  |  |  |
| EUR |  |  |  |
| EUR	BP CAPITAL MARKETS PLC-REG-S 3.250%/VAR 20-PRP | 130 000.00 | 138 728.20 | 0.06 |
| EUR	BP CAPITAL MARKETS PLC-REG-S-SUB 3.625%/VAR 20-PRP | 100 000.00 | 108 250.00 | 0.05 |
| EUR	ELECTRICITE DE FRANCE SA-REG-S-SUB 4.000%/VAR 18-PRP | 200 000.00 | 213 420.00 | 0.10 |
| EUR	HOLCIM FINANCE LUXEMBOURG SA-REG-S-SUB 3.000%/VAR 19-PRP | 300 000.00 | 313 672.80 | 0.15 |
| EUR	SES SA-REG-S-SUB 2.875%/VAR 21-PRP | 695 000.00 | 707 839.43 | 0.33 |
| EUR	UNIBAIL-RODAMCO SE-REG-S-SUB 2.125%/VAR 18-PRP | 100 000.00 | 99 754.00 | 0.05 |
| EUR	UNIBAIL-RODAMCO SE-REG-S-SUB 2.875%/VAR 18-PRP | 100 000.00 | 101 859.00 | 0.05 |
| EUR	VONOVIA FINANCE BV-REG-S-SUB 4.000%/VAR 14-PRP | 100 000.00 | 100 738.00 | 0.05 |
| Total EUR |  | 1 784 261.43 | 0.84 |
| GBP |  |  |  |
| GBP	M&G PLC-REG-S-SUB 5.625%/VAR 18-20.10.51 | 190 000.00 | 260 802.04 | 0.13 |
| Total GBP |  | 260 802.04 | 0.13 |
| NZD |  |  |  |
| NZD	NEW ZEALAND-REG-S 2.500%/CPI LINKED 14-20.09.35 | 8 000 000.00 | 6 705 417.00 | 3.17 |
| Total NZD |  | 6 705 417.00 | 3.17 |
| USD |  |  |  |
| USD	RAKUTEN GROUP INC-REG-S-SUB 6.250%/VAR 21-PRP | 540 000.00 | 492 730.48 | 0.23 |
| Total USD |  | 492 730.48 | 0.23 |
| Total des Obligations, taux variable |  | 9 243 210.95 | 4.37 |
| Total des Titres et instruments du marché monétaire négociés sur une bourse officielle |  | 171 035 049.84 | 80.78 |
| Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  |  |  |
| Titres adossés à des actifs, taux variable |  |  |  |
| USD |  |  |  |
| USD	SOFI PROFESSIONA LOAN PROGRAM LLC-144A VAR 17-26.03.40 | 475 000.00 | 427 496.59 | 0.20 |
| Total USD |  | 427 496.59 | 0.20 |
| Total des Titres adossés à des actifs, taux variable |  | 427 496.59 | 0.20 |

UBS (Lux) Bond Fund – EUR Flexible Rapport semestriel au 30 septembre 2021
| Dénomination | Quantité/ | Evaluation en EUR | en % |
| --- | --- | --- | --- |
|  | Nominal | Plus- (Moins-) value non- | des |
|  |  | réalisée sur Futures/ | actifs |
|  |  | Contrats de | nets |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |

Titres adossés à des hypothèques, taux fixe
| USD |  |
| --- | --- |
| USD | BENCHMARK MORTGAGE TRUST-SUB 3.97900% 19-01.03.62 | 750 000.00 | 723 352.75 | 0.34 |
| USD | MSBAM LYNCH TRUST-SUB 3.99400% 16-01.12.49 | 313 000.00 | 294 312.21 | 0.14 |
| Total USD |  |  | 1 017 664.96 | 0.48 |
| Total des Titres adossés à des hypothèques, taux fixe |  | 1 017 664.96 | 0.48 |
| Titres adossés à des hypothèques, taux variable |  |  |  |
| USD |  |  |  |
| USD	AVENTURA MALL TRUST-144A FLR 18-01.07.40 | 650 000.00 | 633 183.06 | 0.30 |
| USD	BAMLL COMMERCIAL MORT SET-144A 1M LIBOR+135BP 18-15.09.34 | 550 000.00 | 472 772.87 | 0.22 |
| USD	BANK 2017-BNK9 VAR 17-01.11.54 | 450 000.00 | 427 342.79 | 0.20 |
| USD	BANK-SUB FLR 18-01.02.61 | 505 000.00 | 466 903.72 | 0.22 |
| USD	BBCMS TRUST CBM-144A 1M LIBOR+119.1098BP 18-15.07.37 | 550 000.00 | 474 721.58 | 0.22 |
| USD	BENCHMARK MORTGAGE TRUST VAR 18-01.02.51 | 250 000.00 | 240 914.11 | 0.11 |
| USD	BENCHMARK MORTGAGE TRUST-SUB FLR 18-01.10.51 | 550 000.00 | 519 989.97 | 0.25 |
| USD	CAMB COMM MORTGAGE TRUST-144A-SUB 1M LIBOR+145BP 19-15.12.37 | 175 000.00 | 151 138.38 | 0.07 |
| USD	CAMB COMM MORTGAGE TRUST-144A-SUB 1M LIBOR+175BP 19-15.12.37 | 430 000.00 | 371 369.41 | 0.18 |
| USD	CHT COSMO MORTGAGE TRUST-144A-SUB 1M LIBOR+225BP 17-15.11.36 | 600 000.00 | 518 200.63 | 0.25 |
| USD	CORE TRUST CORE-144A 1M LIBOR+110BP 19-15.12.31 | 230 000.00 | 158 572.71 | 0.08 |
| USD	GS MORTGAGE SECURITIES TRUST-144A VAR 17-01.01.43 | 1 225 000.00 | 1 151 810.97 | 0.54 |
| USD	JP MORGAN CHASE MORTGAGE SECURITIES-144A-SUB FLR 18-01.01.31 | 685 000.00 | 601 709.80 | 0.28 |
| Total USD |  | 6 188 630.00 | 2.92 |
| Total des Titres adossés à des hypothèques, taux variable |  | 6 188 630.00 | 2.92 |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AMERICAN AIRLINES GROUP INC-144A 3.75000% 20-01.03.25 | 700 000.00 | 544 259.89 | 0.26 |
| USD	AVOLON HOLDINGS FUNDING LTD-144A 2.12500% 21-21.02.26 | 165 000.00 | 140 768.59 | 0.06 |
| USD	DELL INTERNATIONAL LLC / EMC CORP 5.30000% 21-01.10.29 | 280 000.00 | 292 047.79 | 0.14 |
| USD	ENLINK MIDSTREAM PARTNERS LP 4.40000% 14-01.04.24 | 110 000.00 | 98 654.99 | 0.05 |
| Total USD |  | 1 075 731.26 | 0.51 |
| Total des Billets, taux fixe |  | 1 075 731.26 | 0.51 |
| Obligations, taux fixe |  |  |  |
| EUR |  |  |  |
| EUR	PANTHER BF AGGR 2/PANTHER FIN CO-REG-S 4.37500% 19-15.05.26 | 400 000.00 | 413 505.60 | 0.19 |
| Total EUR |  | 413 505.60 | 0.19 |
| RUB |  |  |  |
| RUB	RUSSIA, FEDERATION OF 7.65000% 19-10.04.30 | 270 000 000.00 | 3 293 708.91 | 1.56 |
| Total RUB |  | 3 293 708.91 | 1.56 |
| Total des Obligations, taux fixe |  | 3 707 214.51 | 1.75 |
| Obligations, taux variable |  |  |  |
| NZD |  |  |  |
| NZD	NEW ZEALAND 2.500%/CPI LINKED 17-20.09.40 | 14 000 000.00 | 11 677 479.85 | 5.52 |
| NZD	NEW ZEALAND 3.000%/CPI LINKED 13-20.09.30 | 1 800 000.00 | 1 511 922.39 | 0.71 |
| Total NZD |  | 13 189 402.24 | 6.23 |
| Total des Obligations, taux variable |  | 13 189 402.24 | 6.23 |
| Total des Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  | 25 606 139.56 | 12.09 |
| Nouvelles émissions de titres et instruments du marché monétaire |  |  |  |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	BROADCOM INC-144A 1.95000% 21-15.02.28 | 200 000.00 | 170 395.07 | 0.08 |
| USD	BROADCOM INC-144A 2.60000% 21-15.02.33 | 700 000.00 | 580 190.61 | 0.27 |
| Total USD |  | 750 585.68 | 0.35 |
| Total des Billets, taux fixe |  | 750 585.68 | 0.35 |
| Total des Nouvelles émissions de titres et instruments du marché monétaire |  | 750 585.68 | 0.35 |

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
Luxembourg
| EUR | UBS (LUX) BOND FUND - EURO HIGH YIELD (EUR) I-X-ACC | 100.00 | 14 389.00 | 0.01 |
| --- | --- | --- | --- | --- |
| USD | UBS (LUX) BOND SICAV - ASIAN HIGH YIELD (USD) I-X-DIST | 45 000.00 | 3 474 351.78 | 1.64 |
| USD | UBS (LUX) BOND SICAV - MULTI INCOME (USD)-U-X-ACC- CAP | 320.00 | 2 960 887.01 | 1.40 |
| USD | UBS (LUX) BOND SICAV - CHINA HIGH YIELD (USD) U-X-ACC | 200.00 | 1 628 927.91 | 0.77 |
| Total Luxembourg | 8 078 555.70 | 3.82 |
| Total des Fonds d’investissement, ouvert | 8 078 555.70 | 3.82 |
| Total des OPCVM/Autres OPC au sens de l’article 41 (1) e) de la loi luxembourgeoise du 17 décembre 2010, telle que modifiée | 8 078 555.70 | 3.82 |

UBS (Lux) Bond Fund – EUR Flexible Rapport semestriel au 30 septembre 2021
| Dénomination	Quantité/ | Evaluation en EUR | en % |
| --- | --- | --- |
| Nominal | Plus- (Moins-) value non- | des |
|  | réalisée sur Futures/ | actifs |
|  | Contrats de | nets |
|  | change à terme/ |  |
|  | Swaps (note 1) |  |

Instruments dérivés non négociés sur une bourse officielle ou sur un autre marché réglementé
Options sur autres swaps, classic-styled
| USD |  |
| --- | --- |
| USD | GOLDMAN SACH/CDX.NA.HY.36 SWAPTION PUT 108.00000 21-17.11.21 | 19 500 000.00 | 115 741.45 | 0.05 |
| USD | GOLDMAN SACH/CDX.NA.HY.36 SWAPTION PUT 105.00000 21-17.11.21 | -19 500 000.00 | -47 165.45 | -0.02 |
| USD | GOLDMAN SACH/CDX.NA.HY.36 SWAPTION PUT 103.00000 21-17.11.21 | -19 500 000.00 | -27 630.96 | -0.01 |
| Total USD |  |  | 40 945.04 | 0.02 |
| Total Options sur autres swaps, classic-styled |  | 40 945.04 | 0.02 |
| Total des Instruments dérivés non négociés sur une bourse officielle ou sur un autre marché | réglementé | 40 945.04 | 0.02 |
| Total du Portefeuille-titres |  | 205 511 275.82 | 97.06 |
| Instruments dérivés |  |  |  |
| Instruments dérivés négociés sur une bourse officielle |  |  |  |
| Contrats financiers à terme sur obligations |  |  |  |
|  |  |  |  |
| EUR	EURO BTP ITALY GOVERNMENT FUTURE 08.12.21 | 40.00 | -50 290.00 | -0.02 |
| EUR	SHORT EURO BTP ITALY GOVERMENT FUTURE 08.12.21 | 40.00 | -6 400.00 | 0.00 |
| EUR	EURO-BOBL FUTURE 08.12.21 | 112.00 | -91 840.00 | -0.04 |
| EUR	EURO-SCHATZ FUTURE 08.12.21 | 280.00 | -21 000.00 | -0.01 |
| EUR	EURO-BUXL FUTURE 08.12.21 | -9.00 | 9 600.00 | 0.00 |
| EUR	EURO-OAT FUTURE 08.12.21 | 110.00 | -321 200.00 | -0.15 |
| GBP	LONG GILT FUTURE 29.12.21 | 20.00 | -87 954.84 | -0.04 |
| JPY	JAPAN GOVERNMENT 10Y BOND (OSE) FUTURE 13.12.21 | -5.00 | 18 560.07 | 0.01 |
| CAD	CAN 10YR BOND FUTURE 20.12.21 | -10.00 | 22 884.92 | 0.01 |
| USD	US ULTRA LONG BOND (CBT) FUTURE 21.12.21 | -21.00 | 88 617.40 | 0.04 |
| USD	US 10YR TREASURY NOTE FUTURE 21.12.21 | -35.00 | 38 457.51 | 0.02 |
| USD	US 5YR TREASURY NOTE FUTURE 31.12.21 | -120.00 | 58 242.37 | 0.03 |
| USD	US 10YR ULTRA NOTE FUTURE 21.12.21 | -76.00 | 139 808.66 | 0.06 |
| USD	US LONG BOND FUTURE 21.12.21 | -24.00 | 55 006.69 | 0.02 |
| Total des Contrats financiers à terme sur obligations |  | -147 507.22 | -0.07 |
| Total des Instruments dérivés négociés sur une bourse officielle |  | -147 507.22 | -0.07 |
| Instruments dérivés non négociés sur une bourse officielle ou sur un | autre marché réglementé |  |  |
| Swaps et Swaps à terme sur taux d’intérêt |  |  |  |
|  |  |  |  |
| NZD	LCH/INTEREST RATE SWAP PAYER 2.27500% 18-17.10.22 | -27 000 000.00 | -350 557.68 | -0.16 |
| NZD	LCH/INTEREST RATE SWAP REC 3MF 18-17.10.22 |  |  |  |
| USD	LCH/INTEREST RATE SWAP PAY 1.29910% 20-03.03.50 | -1 000 000.00 | 107 674.86 | 0.05 |
| USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 20-03.03.50 |  |  |  |
| PLN	LCH/INTEREST RATE SWAP PAY 2.11600% 20-23.01.30 | -24 500 000.00 | -66 463.51 | -0.03 |
| PLN	LCH/INTEREST RATE SWAP REC 6MWIB 20-23.01.30 |  |  |  |
| PLN	LCH/INTEREST RATE SWAP PAY 1.91900% 20-10.02.30 | -29 000 000.00 | 30 639.88 | 0.01 |
| PLN	LCH/INTEREST RATE SWAP REC 6MWIB 20-10.02.30 |  |  |  |
| PLN	LCH/INTEREST RATE SWAP PAY 0.88000% 20-07.05.30 | -10 000 000.00 | 211 612.45 | 0.10 |
| PLN	LCH/INTEREST RATE SWAP REC 6MWIB 20-07.05.30 |  |  |  |
| GBP	LCH/INTEREST RATE SWAP PAY 0.50088% 21-02.02.51 | -2 700 000.00 | 395 663.72 | 0.19 |
| GBP	LCH/INTEREST RATE SWAP REC SONIA O/N 21-02.02.51 |  |  |  |
| GBP	LCH/INTEREST RATE SWAP PAY 0.51415% 21-03.02.51 | -1 500 000.00 | 213 829.74 | 0.10 |
| GBP	LCH/INTEREST RATE SWAP REC SONIA O/N 21-03.02.51 |  |  |  |
| GBP	LCH/INTEREST RATE SWAP PAY 0.52190% 21-04.02.51 | -1 500 000.00 | 210 369.27 | 0.10 |
| GBP	LCH/INTEREST RATE SWAP REC SONIA O/N 21-04.02.51 |  |  |  |
| GBP	LCH/INTEREST RATE SWAP PAY 0.88544% 21-28.02.51 | -800 000.00 | 24 724.28 | 0.01 |
| GBP	LCH/INTEREST RATE SWAP REC SONIA O/N 21-28.02.51 |  |  |  |
| NZD	LCH/INTEREST RATE SWAP PAY 1.20750% 19-27.09.29 | -11 200 000.00 | 449 383.83 | 0.21 |
| NZD	LCH/INTEREST RATE SWAP REC 3MFRA 19-27.09.29 |  |  |  |
| NZD	LCH/INTEREST RATE SWAP PAY 1.67500% 24-30.10.29 | -18 000 000.00 | 369 322.56 | 0.17 |
| NZD	LCH/INTEREST RATE SWAP REC 3MFRA 24-30.10.29 |  |  |  |
| NZD	LCH/INTEREST RATE SWAP PAY 1.58300% 24-24.09.29 | -19 000 000.00 | 431 940.52 | 0.20 |
| NZD	LCH/INTEREST RATE SWAP REC 3MFRA 24-24.09.29 |  |  |  |
| CNY	CITI/INTEREST RATE SWAP PAY 2.80500% 21-02.04.26 | -55 000 000.00 | -118 195.55 | -0.05 |
| CNY	CITI/INTEREST RATE SWAP REC CNRR007 21-02.04.26 |  |  |  |
| CNY	CITI/INTEREST RATE SWAP PAY CNRR007 19-28.08.24 | -80 000 000.00 | 131 447.11 | 0.06 |
| CNY	CITI/INTEREST RATE SWAP REC 2.77000% 19-28.08.24 |  |  |  |
| CNY	JPMORGAN/INTEREST RATE SWAP PAY CNRR007 20-10.06.25 | -50 000 000.00 | -41 080.57 | -0.02 |
| CNY	JPMORGAN/INTEREST RATE SWAP REC 2.23500% 20-10.06.25 |  |  |  |
| CNY	CITI/INTEREST RATE SWAP PAY CNRR007 20-11.06.25 | -50 000 000.00 | -32 239.30 | -0.01 |
| CNY	CITI/INTEREST RATE SWAP REC 2.27000% 20-11.06.25 |  |  |  |
| CNY	JPMORGAN/INTEREST RATE SWAP PAY CNRR007 20-12.06.25 | -48 000 000.00 | -48 030.71 | -0.02 |
| CNY	JPMORGAN/INTEREST RATE SWAP REC 2.19500% 20-12.06.25 |  |  |  |
| MXN	CME/INTEREST RATE SWAP PAY MXI 18-26.06.28 | -135 000 000.00 | 258 835.87 | 0.12 |
| MXN	CME/INTEREST RATE SWAP REC 8.07000% 18-26.06.28 |  |  |  |
| MXN	CME/INTEREST RATE SWAP PAY MXI 18-12.07.28 | -120 000 000.00 | 254 071.66 | 0.12 |
| MXN	CME/INTEREST RATE SWAP REC 8.13500% 18-12.07.28 |  |  |  |
| CNY	HSBC/INTEREST RATE SWAP PAY CNRR007 18-20.11.21 | -133 000 000.00 | 28 072.87 | 0.01 |
| CNY	HSBC/INTEREST RATE SWAP REC 2.89500% 18-20.11.21 |  |  |  |
| NZD	LCH/INTEREST RATE SWAP PAY 3MFRA 21-22.06.26 | -11 000 000.00 | -133 619.23 | -0.06 |
| NZD	LCH/INTEREST RATE SWAP REC 1.32000% 21-22.06.26 |  |  |  |
| HUF	LCH/INTEREST RATE SWAP PAY 6ML 21-10.08.26 | -2 200 000 000.00 | -101 764.21 | -0.05 |
| HUF	LCH/INTEREST RATE SWAP REC 2.59600% 21-10.08.26 |  |  |  |
| HUF	LCH/INTEREST RATE SWAP PAY 6ML 21-17.09.26 | -1 220 000 000.00 | -27 980.70 | -0.01 |
| HUF	LCH/INTEREST RATE SWAP REC 2.83500% 21-17.09.26 |  |  |  |
| Total des Swaps et Swaps à terme sur taux d’intérêt |  | 2 197 657.16 | 1.04 |

UBS (Lux) Bond Fund – EUR Flexible Rapport semestriel au 30 septembre 2021
| Dénomination | Quantité/ | Evaluation en EUR | en % |
| --- | --- | --- | --- |
|  | Nominal | Plus- (Moins-) value non- | des |
|  |  | réalisée sur Futures/ | actifs |
|  |  | Contrats de | nets |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
| Credit Default Swaps* |  |  |  |

| USD | CITIBANK/BRAZIL CREDIT DEFAULT SWAP PAYER 1.00000% 19-20.06.24 | -1 900 000.00 | 12 871.25 | 0.01 |
| --- | --- | --- | --- | --- |
| USD | BOA/MEX CREDIT DEFAULT SWAP PAY 1.00000% 19-20.06.24 | -3 200 000.00 | -37 691.16 | -0.02 |
| USD | JPMORGAN/BRAZIL CREDIT DEFAULT SWAP PAY 1.00000% 19-20.06.24 | -1 900 000.00 | 12 871.25 | 0.01 |
| USD | BOA/TURKEY CREDIT DEFAULT SWAP REC 1.00000% 19-20.06.24 | 3 200 000.00 | -202 609.94 | -0.10 |
| USD | CITI/SOAF CREDIT DEFAULT SWAP REC 1.00000% 19-20.06.24 | 1 900 000.00 | -11 262.82 | -0.01 |
| USD | JPMORGAN/SOAF CREDIT DEFAULT SWAP REC 1.00000% 19-20.06.24 | 1 900 000.00 | -11 262.82 | -0.01 |
| EUR | ICE/MARKIT ITRX EUR CDI REC 1.00000% 19-20.06.22 | 11 300 000.00 | 78 676.88 | 0.04 |
| EUR | ICE/MARKIT ITRX EUR CDI REC 5.00000% 20-20.12.22 | 6 253 310.00 | 313 602.11 | 0.15 |
| Total des Credit Default Swaps | 155 194.75 | 0.07 |
| Total des Instruments dérivés non négociés sur une bourse officielle ou sur un autre marché réglementé | 2 352 851.91 | 1.11 |
| Total des Instruments dérivés | 2 205 344.69 | 1.04 |
| Contrats de change à terme |  |  |
| Devise achetée/Montant acheté/Devise vendue/Montant vendu/Date de maturité |  |  |

| MYR | 4 004 000.00 | USD | 955 608.59 | 6.10.2021 | 541.55 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| KRW | 2 283 000 000.00 | USD | 1 970 872.86 | 6.10.2021 | -36 566.26 | -0.02 |
| USD | 3 736 964.16 | RUB | 275 223 300.00 | 6.10.2021 | -36 244.73 | -0.02 |
| USD | 2 019 872.35 | TWD | 55 700 000.00 | 6.10.2021 | 16 811.96 | 0.01 |
| USD | 1 030 287.11 | IDR | 14 712 500 000.00 | 6.10.2021 | 2 260.35 | 0.00 |
| USD | 1 031 726.51 | INR | 75 510 000.00 | 6.10.2021 | 12 547.89 | 0.01 |
| EUR | 34 376 074.25 | USD | 40 740 000.00 | 6.10.2021 | -773 947.51 | -0.37 |
| EUR | 3 762 430.25 | CAD | 5 620 000.00 | 6.10.2021 | -65 045.40 | -0.03 |
| EUR | 860 000.00 | NZD | 1 434 038.30 | 6.10.2021 | 6 480.01 | 0.00 |
| EUR | 19 318 824.14 | NZD | 32 230 000.00 | 6.10.2021 | 135 968.80 | 0.06 |
| NOK | 44 760 000.00 | EUR | 4 354 655.78 | 6.10.2021 | 69 253.39 | 0.03 |
| PLN | 12 160 000.00 | EUR | 2 693 040.33 | 6.10.2021 | -51 192.80 | -0.02 |
| EUR | 1 484 376.67 | GBP | 1 275 000.00 | 6.10.2021 | 1 111.88 | 0.00 |
| TRY | 4 450 000.00 | EUR | 443 483.14 | 6.10.2021 | -12 079.75 | -0.01 |
| SGD | 1 385 000.00 | EUR | 868 175.65 | 6.10.2021 | 12 019.88 | 0.01 |
| EUR | 2 514 299.49 | SEK | 25 600 000.00 | 6.10.2021 | -10 460.66 | 0.00 |
| EUR | 4 092 642.29 | ZAR | 70 320 000.00 | 6.10.2021 | 62 075.43 | 0.03 |
| AUD | 2 445 000.00 | EUR | 1 530 009.88 | 6.10.2021 | -6 177.75 | 0.00 |
| EUR | 852 111.26 | CHF | 925 000.00 | 6.10.2021 | -3 499.81 | 0.00 |
| EUR | 4 374 008.93 | MXN | 104 140 000.00 | 6.10.2021 | 3 624.80 | 0.00 |
| EUR | 1 458 465.27 | JPY | 190 600 000.00 | 6.10.2021 | -15 445.81 | -0.01 |
| CHF | 925 000.00 | EUR | 850 697.53 | 6.10.2021 | 4 913.54 | 0.00 |
| CAD | 1 291 880.58 | NZD | 1 445 000.00 | 6.10.2021 | 19 786.89 | 0.01 |
| EUR | 860 000.00 | NOK | 8 856 355.68 | 6.10.2021 | -15 328.71 | -0.01 |
| AUD | 1 390 000.00 | NZD | 1 440 889.29 | 6.10.2021 | 8 712.61 | 0.00 |
| INR | 75 510 000.00 | USD | 1 021 786.20 | 6.10.2021 | -3 969.74 | 0.00 |
| USD | 1 020 000.00 | CNY | 6 597 972.00 | 8.10.2021 | -1 343.79 | 0.00 |
| PLN | 3 890 000.00 | JPY | 110 585 733.00 | 6.10.2021 | -10 030.18 | 0.00 |
| USD | 360 000.00 | EUR | 304 662.27 | 6.10.2021 | 5 941.75 | 0.00 |
| ZAR | 3 060 000.00 | USD | 210 261.23 | 6.10.2021 | -6 019.88 | 0.00 |
| USD | 453 634.95 | NZD | 645 000.00 | 6.10.2021 | 7 496.68 | 0.00 |
| CAD | 1 279 318.65 | AUD | 1 380 000.00 | 6.10.2021 | 11 197.80 | 0.02 |
| EUR | 866 941.36 | NOK | 8 740 000.00 | 6.10.2021 | 3 112.80 | 0.00 |
| EUR | 215 902.84 | GBP | 185 000.00 | 6.10.2021 | 684.03 | 0.00 |
| CNY | 6 597 972.00 | USD | 1 020 331.25 | 8.10.2021 | 1 058.73 | 0.00 |
| USD | 1 017 654.77 | CNY | 6 600 000.00 | 4.11.2021 | -1 717.89 | 0.00 |
| USD | 1 924 552.16 | KRW | 2 283 000 000.00 | 6.10.2021 | -3 401.28 | 0.00 |
| KRW | 2 283 000 000.00 | USD | 1 923 595.43 | 4.11.2021 | 3 749.37 | 0.00 |
| USD | 995 000.00 | IDR | 14 307 105 000.00 | 4.11.2021 | -879.42 | 0.00 |
| USD | 995 000.00 | CNY | 6 449 092.50 | 4.11.2021 | -1 148.23 | 0.00 |
| USD | 955 608.59 | MYR | 4 004 000.00 | 6.10.2021 | -541.63 | 0.00 |
| RUB | 275 223 300.00 | USD | 3 778 484.51 | 6.10.2021 | 397.47 | 0.00 |
| MYR | 4 004 000.00 | USD | 954 014.77 | 3.11.2021 | 611.89 | 0.00 |
| USD | 3 759 644.89 | RUB | 275 223 300.00 | 3.11.2021 | 1 213.28 | 0.00 |
| IDR | 14 712 500 000.00 | USD | 1 028 990.07 | 6.10.2021 | -1 139.38 | 0.00 |
| TWD | 55 700 000.00 | USD | 2 003 597.12 | 6.10.2021 | -2 777.85 | 0.00 |
| USD | 1 020 378.58 | CNY | 6 597 972.00 | 8.10.2021 | -1 017.30 | 0.00 |
| USD | 1 025 475.71 | IDR | 14 712 500 000.00 | 4.11.2021 | 1 071.96 | 0.00 |
| USD | 2 006 556.43 | TWD | 55 700 000.00 | 4.11.2021 | 1 755.83 | 0.00 |
| USD | 130 000.00 | EUR | 112 356.54 | 6.10.2021 | -193.98 | 0.00 |
| USD | 995 000.00 | CAD | 1 258 201.18 | 6.10.2021 | 1 582.89 | 0.00 |
| Total des Contrats de change à terme | -664 186.28 | -0.31 |
|  |  |  |
| Avoirs en banque, dépôts à vue et à terme et autres liquidités | 8 502 834.05** | 4.02 |
| Crédit en compte courant et autres engagements à court terme | -3 977 694.61 | -1.88 |
| Autres actifs et passifs | 152 185.89 | 0.07 |
| Total de l’Actif net | 211 729 759.56 | 100.00 |

* Nominal positif: le compartiment est «receveur», nominal négatif: le compartiment est «payeur».
** Au 30 septembre 2021, des avoirs en banque ont été utilisés à titre de garantie, à hauteur de 76 000.00 EUR en faveur de JP Morgan et à hauteur de 410 000.00 EUR en faveur de Bank of America.
UBS (Lux) Bond Fund – EUR Flexible Rapport semestriel au 30 septembre 2021