# UBS (Lux) Emerging Economies Fund – Global Bonds (USD)
| Most important figures |  |
| --- | --- |
|  | ISIN | 28.2.2023 | 31.8.2022 | 31.8.2021 |
| Net assets in USD |  | 642 500 663.95 | 526 290 243.03 | 1 270 338 935.50 |
| Class F-acc | LU0426895057 |  |  |  |
| Units outstanding |  | 52 654.0000 | 66 392.0000 | 73 877.0000 |
| Net asset value per unit in USD |  | 1 735.82 | 1 696.87 | 2 183.48 |
| Issue and redemption price per unit in USD 1 |  | 1 724.36 | 1 696.87 | 2 183.48 |
| Class (CHF hedged) F-dist 2 | LU0944429587 |  |  |  |
| Units outstanding |  | - | - | 3 310.0000 |
| Net asset value per unit in CHF |  | - | - | 108.46 |
| Issue and redemption price per unit in CHF 1 |  | - | - | 108.46 |
| Class I-A1-acc | LU0426895305 |  |  |  |
| Units outstanding |  | 46 928.9770 | 41 534.4440 | 89 511.1450 |
| Net asset value per unit in USD |  | 151.95 | 148.68 | 191.71 |
| Issue and redemption price per unit in USD 1 |  | 150.95 | 148.68 | 191.71 |
| Class (EUR hedged) I-A1-acc 3 | LU2586839198 |  |  |  |
| Units outstanding |  | 58 496.0580 | - | - |
| Net asset value per unit in EUR |  | 99.66 | - | - |
| Issue and redemption price per unit in EUR 1 |  | 99.00 | - | - |
| Class I-B-acc | LU0426896022 |  |  |  |
| Units outstanding |  | 251 423.3020 | 135 192.7530 | 253 819.2690 |
| Net asset value per unit in USD |  | 166.14 | 162.10 | 207.77 |
| Issue and redemption price per unit in USD 1 |  | 165.04 | 162.10 | 207.77 |
| Class (EUR hedged) I-B-acc 4 | LU2199275095 |  |  |  |
| Units outstanding |  | - | 3 866.3400 | 185 222.9410 |
| Net asset value per unit in EUR |  | - | 82.59 | 107.59 |
| Issue and redemption price per unit in EUR 1 |  | - | 82.59 | 107.59 |
| Class I-X-acc | LU0426896378 |  |  |  |
| Units outstanding |  | 159 193.8820 | 154 265.0620 | 150 291.2790 |
| Net asset value per unit in USD |  | 167.72 | 163.55 | 209.40 |
| Issue and redemption price per unit in USD 1 |  | 166.61 | 163.55 | 209.40 |
| Class (CHF hedged) I-X-acc | LU0654573939 |  |  |  |
| Units outstanding |  | 313 988.6150 | 272 851.1780 | 268 639.1830 |
| Net asset value per unit in CHF |  | 85.04 | 84.68 | 110.26 |
| Issue and redemption price per unit in CHF 1 |  | 84.48 | 84.68 | 110.26 |
| Class (EUR hedged) I-X-acc | LU0674194641 |  |  |  |
| Units outstanding |  | 749 090.7920 | 686 434.6490 | 694 768.7630 |
| Net asset value per unit in EUR |  | 100.33 | 99.46 | 129.45 |
| Issue and redemption price per unit in EUR 1 |  | 99.67 | 99.46 | 129.45 |
| Class I-X-dist | LU0426896295 |  |  |  |
| Units outstanding |  | 372 825.0000 | 236 488.0000 | 288 055.0000 |
| Net asset value per unit in USD |  | 56.26 | 58.90 | 79.12 |
| Issue and redemption price per unit in USD 1 |  | 55.89 | 58.90 | 79.12 |
| Class K-X-acc | LU1572324363 |  |  |  |
| Units outstanding |  | 29 941.2400 | 29 941.2400 | 29 941.2400 |
| Net asset value per unit in USD |  | 102.37 | 99.84 | 127.88 |
| Issue and redemption price per unit in USD 1 |  | 101.69 | 99.84 | 127.88 |
| Class P-acc | LU0084219863 |  |  |  |
| Units outstanding |  | 36 383.9550 | 37 870.5750 | 40 197.9640 |
| Net asset value per unit in USD |  | 1 548.84 | 1 522.13 | 1 979.67 |
| Issue and redemption price per unit in USD 1 |  | 1 538.62 | 1 522.13 | 1 979.67 |
| Class (CHF hedged) P-acc | LU0776291576 |  |  |  |
| Units outstanding |  | 2 990.7130 | 3 391.3170 | 3 274.7070 |
| Net asset value per unit in CHF |  | 76.26 | 76.55 | 101.30 |
| Issue and redemption price per unit in CHF 1 |  | 75.76 | 76.55 | 101.30 |
| Class (EUR hedged) P-acc | LU0776291659 |  |  |  |
| Units outstanding |  | 6 572.5300 | 6 572.5300 | 7 420.5300 |
| Net asset value per unit in EUR |  | 79.53 | 79.48 | 105.13 |
| Issue and redemption price per unit in EUR 1 |  | 79.01 | 79.48 | 105.13 |
| Class (CHF hedged) P-dist | LU0505553213 |  |  |  |
| Units outstanding |  | 62 187.1330 | 65 685.6570 | 73 295.5000 |
| Net asset value per unit in CHF |  | 47.84 | 51.76 | 70.67 |
| Issue and redemption price per unit in CHF 1 |  | 47.52 | 51.76 | 70.67 |
| Class P-mdist | LU0281209311 |  |  |  |
| Units outstanding |  | 803 162.2760 | 1 122 305.4870 | 1 227 613.8400 |
| Net asset value per unit in USD |  | 42.90 | 43.24 | 59.37 |
| Issue and redemption price per unit in USD 1 |  | 42.62 | 43.24 | 59.37 |

UBS (Lux) Emerging Economies Fund – Global Bonds (USD) Semi-Annual Report as of 28 February 2023
|  | ISIN | 28.2.2023 | 31.8.2022 | 31.8.2021 |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Class Q-acc | LU0358455698 |  |  |  |
| Units outstanding |  | 44 562.1610 | 42 336.8930 | 51 825.5140 |
| Net asset value per unit in USD |  | 97.43 | 95.40 | 123.18 |
| Issue and redemption price per unit in USD 1 |  | 96.79 | 95.40 | 123.18 |
| Class (EUR hedged) Q-acc 5 | LU0848087846 |  |  |  |
| Units outstanding |  | 1 135.4000 | 67 970.3790 | - |
| Net asset value per unit in EUR |  | 81.39 | 81.01 | - |
| Issue and redemption price per unit in EUR 1 |  | 80.85 | 81.01 | - |
| Class Q-dist | LU0426895131 |  |  |  |
| Units outstanding |  | 13 026.6700 | 11 922.5530 | 11 045.3640 |
| Net asset value per unit in USD |  | 64.05 | 66.41 | 89.14 |
| Issue and redemption price per unit in USD 1 |  | 63.63 | 66.41 | 89.14 |
| Class (CHF hedged) Q-dist | LU1240777703 |  |  |  |
| Units outstanding |  | 53 060.2740 | 54 182.6870 | 71 389.9490 |
| Net asset value per unit in CHF |  | 63.73 | 67.73 | 92.50 |
| Issue and redemption price per unit in CHF 1 |  | 63.31 | 67.73 | 92.50 |
| Class U-X-acc | LU0426896535 |  |  |  |
| Units outstanding |  | 16 719.0000 | 8 525.0000 | 41 328.0000 |
| Net asset value per unit in USD |  | 11 975.99 | 11 678.28 | 14 952.14 |
| Issue and redemption price per unit in USD 1 |  | 11 896.95 | 11 678.28 | 14 952.14 |
| Class U-X-UKdist-mdist | LU1896727648 |  |  |  |
| Units outstanding |  | 4 375.8940 | 3 442.8840 | 2 561.1840 |
| Net asset value per unit in USD |  | 7 587.89 | 7 728.95 | 10 429.33 |
| Issue and redemption price per unit in USD 1 |  | 7 537.81 | 7 728.95 | 10 429.33 |
| 1  See note 1 2  The unit class (CHF hedged) F-dist was in circulation until 25.10.2021 3  First NAV: 21.2.2023 4  The unit class (EUR hedged) I-B-acc was in circulation until 14.11.2022 5  First NAV: 28.1.2022 |  |  |  |  |

UBS (Lux) Emerging Economies Fund – Global Bonds (USD) Semi-Annual Report as of 28 February 2023

### Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
Mexico	6.19
Brazil	4.66
Indonesia	4.37
United States	4.02
Turkey	3.82
Malaysia	3.47
United Arab Emirates	3.20
Philippines	3.18
Cayman Islands	3.17
Chile	3.12
Dominican Republic	2.82
Qatar	2.69
Colombia	2.51
Egypt	2.48
Bahrain	2.34
Peru	2.32
Panama	2.31
Saudi Arabia	2.26
Hungary	2.16
Oman	2.12
Romania	2.04
South Africa	2.00
Nigeria	1.61
Uruguay	1.40
Argentina	1.36
Ecuador	1.24
Angola	1.15
Ghana	1.12
Poland	1.10
Costa Rica	0.99
Ukraine	0.94
Guatemala	0.94
China	0.94
Kazakhstan	0.87
Uzbekistan	0.79
Russian Federation (CIS)	0.77
Jamaica	0.70
Luxembourg	0.70
Jordan	0.65
Paraguay	0.65
Trinidad And Tobago	0.63
Kenya	0.61
Mongolia	0.61
El Salvador	0.61
Venezuela	0.57
Mauritius	0.54
United Kingdom	0.52
Gabon	0.45
Hong Kong	0.43
British Virgin Islands	0.41
Iraq	0.41
Lebanon	0.41
Ivory Coast	0.36
Pakistan	0.34
Zambia	0.34
Morocco	0.27
Senegal	0.23
Georgia	0.20
India	0.20
Honduras	0.18
Mozambique	0.17
Vietnam	0.12
Suriname	0.06
Economic Breakdown as a % of net assets	
Countries & central governments	65.92
Petroleum	8.60
Finance & holding companies	7.18
Mortgage & funding institutions	2.46
Traffic & transportation	2.20
Energy & water supply	1.66
Banks & credit institutions	1.61
Mining, coal & steel	0.84
Chemicals	0.70
Investment funds	0.45
Cantons, federal states	0.37
Aerospace industry	0.37
Electrical devices & components	0.34
Miscellaneous unclassified companies	0.32
Real Estate	0.24
Mechanical engineering & industrial equipment	0.22
Telecommunications	0.20
Miscellaneous services	0.16
Total	93.84
Total	93.84
UBS (Lux) Emerging Economies Fund – Global Bonds (USD) Semi-Annual Report as of 28 February 2023

### Statement of Net Assets
Assets	28.2.2023
USD
Investments in securities, cost	761 174 255.85
Investments in securities, unrealized appreciation (depreciation)	158 251 530.90
Total investments in securities (Note 1)	602 922 724.95
Cash at banks, deposits on demand and deposit accounts	16 914 482.04*
Other liquid assets (Margins)	1 864 511.93
Receivable on securities sales (Note 1)	14 218 264.12
Receivable on subscriptions	6 337 723.01
Interest receivable on securities	9 343 758.02
Interest receivable on liquid assets	12 718.51
Total Assets	651 646 221.80
Liabilities
Prepaid expenses	32 039.22
Unrealized loss on financial futures (Note 1)	-336 640.67
Unrealized loss on forward foreign exchange contracts (Note 1)	-1 917 430.66
Bank overdraft	-21.84
Interest payable on bank overdraft	-1.86
Payable on redemptions	-6 624 783.40
Provisions for flat fee (Note 2)	-166 073.15
Provisions for taxe d’abonnement (Note 3)	-17 244.34
Provisions for other commissions and fees (Note 2)		-83 361.93		 Total provisions			-266 679.42
Total Liabilities	-9 145 557.85
Net assets at the end of the period	642 500 663.95

### Statement of Operations
Income	1.9.2022-28.2.2023
USD
Interest on liquid assets	244 218.77
Interest on securities	14 982 540.49
Net income on securities lending (Note 10)	288 428.66
Total income	16 479 638.05
Expenses
Other income (Note 4)	964 450.13
Flat fee (Note 2)	-1 113 343.68
Taxe d’abonnement (Note 3)	-48 552.95
Other commissions and fees (Note 2)	-81 419.15
Total expenses	-1 256 710.91
Net income (loss) on investments	15 222 927.14
Realized gain (loss) (Note 1)
Interest on cash and bank overdraft	-13 395.13
Realized gain (loss) on market-priced securities without options	-16 040 464.66
Realized gain (loss) on yield-evaluated securities and money market instruments	244 073.44
Realized gain (loss) on financial futures	873 046.10
Realized gain (loss) on forward foreign exchange contracts	2 060 256.35
Total realized gain (loss)	-11 566 134.38
Net realized gain (loss) of the period	3 656 792.76
Changes in unrealized appreciation (depreciation) (Note 1)
Realized gain (loss) on foreign exchange	1 296 954.39
Unrealized appreciation (depreciation) on market-priced securities without options	9 588 963.49
Unrealized appreciation (depreciation) on yield-evaluated securities and money market instruments	-46 982.97
Unrealized appreciation (depreciation) on financial futures	-352 695.45
Total changes in unrealized appreciation (depreciation)	9 044 755.21
Net increase (decrease) in net assets as a result of operations	12 701 547.97
Unrealized appreciation (depreciation) on forward foreign exchange contracts	-144 529.86
* As at 28 February 2023, cash amounts serve as collateral for the counterparty Citibank for an amount of USD 50 000.00.
UBS (Lux) Emerging Economies Fund – Global Bonds (USD) Semi-Annual Report as of 28 February 2023
| Statement of Changes in Net Assets |  |
| --- | --- |
|  | USD |
|  | 1.9.2022-28.2.2023 |
| Net assets at the beginning of the period | 526 290 243.03 |
| Subscriptions | 178 934 938.63 |
| Redemptions | 	-71 821 007.61	 |
| Total net subscriptions (redemptions) | 107 113 931.02 |
| Dividend paid | -3 605 058.07 |
| Net income (loss) on investments | 15 222 927.14 |
| Total realized gain (loss) | -11 566 134.38 |
| Total changes in unrealized appreciation (depreciation) | 	9 044 755.21	 |
| Net increase (decrease) in net assets as a result of operations | 12 701 547.97 |
| Net assets at the end of the period | 642 500 663.95 |
| Development of the outstanding units |  |
|  | 1.9.2022-28.2.2023 |
| Class | F-acc |
| Number of units outstanding at the beginning of the period | 66 392.0000 |
| Number of units issued | 1 864.0000 |
| Number of units redeemed | -15 602.0000 |
| Number of units outstanding at the end of the period | 52 654.0000 |
| Class | I-A1-acc |
| Number of units outstanding at the beginning of the period | 41 534.4440 |
| Number of units issued | 8 800.3940 |
| Number of units redeemed | -3 405.8610 |
| Number of units outstanding at the end of the period | 46 928.9770 |
| Class | (EUR hedged) I-A1-acc |
| Number of units outstanding at the beginning of the period | 0.0000 |
| Number of units issued | 58 496.0580 |
| Number of units redeemed | 0.0000 |
| Number of units outstanding at the end of the period | 58 496.0580 |
| Class | I-B-acc |
| Number of units outstanding at the beginning of the period | 135 192.7530 |
| Number of units issued | 126 948.5490 |
| Number of units redeemed | -10 718.0000 |
| Number of units outstanding at the end of the period | 251 423.3020 |
| Class | (EUR hedged) I-B-acc |
| Number of units outstanding at the beginning of the period | 3 866.3400 |
| Number of units issued | 0.0000 |
| Number of units redeemed | -3 866.3400 |
| Number of units outstanding at the end of the period | 0.0000 |
| Class | I-X-acc |
| Number of units outstanding at the beginning of the period | 154 265.0620 |
| Number of units issued | 5 624.9400 |
| Number of units redeemed | -696.1200 |
| Number of units outstanding at the end of the period | 159 193.8820 |
| Class | (CHF hedged) I-X-acc |
| Number of units outstanding at the beginning of the period | 272 851.1780 |
| Number of units issued | 50 025.1750 |
| Number of units redeemed | -8 887.7380 |
| Number of units outstanding at the end of the period | 313 988.6150 |
| Class | (EUR hedged) I-X-acc |
| Number of units outstanding at the beginning of the period | 686 434.6490 |
| Number of units issued | 68 816.1260 |
| Number of units redeemed | -6 159.9830 |
| Number of units outstanding at the end of the period | 749 090.7920 |
| Class | I-X-dist |
| Number of units outstanding at the beginning of the period | 236 488.0000 |
| Number of units issued | 141 943.0000 |
| Number of units redeemed | -5 606.0000 |
| Number of units outstanding at the end of the period | 372 825.0000 |
| Class | K-X-acc |
| Number of units outstanding at the beginning of the period | 29 941.2400 |
| Number of units issued | 0.0000 |
| Number of units redeemed | 0.0000 |
| Number of units outstanding at the end of the period | 29 941.2400 |
| Class | P-acc |
| Number of units outstanding at the beginning of the period | 37 870.5750 |
| Number of units issued | 2 303.1120 |
| Number of units redeemed | -3 789.7320 |
| Number of units outstanding at the end of the period | 36 383.9550 |
| Class | (CHF hedged) P-acc |
| Number of units outstanding at the beginning of the period | 3 391.3170 |
| Number of units issued | 0.0000 |
| Number of units redeemed | -400.6040 |
| Number of units outstanding at the end of the period | 2 990.7130 |

UBS (Lux) Emerging Economies Fund – Global Bonds (USD) Semi-Annual Report as of 28 February 2023
| Class |  |  | (EUR hedged) P-acc |
| --- | --- | --- | --- |
| Number of units outstanding at the beginning of the period |  |  | 6 572.5300 |
| Number of units issued |  |  | 0.0000 |
| Number of units redeemed |  |  | 0.0000 |
| Number of units outstanding at the end of the period |  |  | 6 572.5300 |
| Class |  |  | (CHF hedged) P-dist |
| Number of units outstanding at the beginning of the period |  |  | 65 685.6570 |
| Number of units issued |  |  | 4.5720 |
| Number of units redeemed |  |  | -3 503.0960 |
| Number of units outstanding at the end of the period |  |  | 62 187.1330 |
| Class |  |  | P-mdist |
| Number of units outstanding at the beginning of the period |  |  | 1 122 305.4870 |
| Number of units issued |  |  | 17 164.7630 |
| Number of units redeemed |  |  | -336 307.9740 |
| Number of units outstanding at the end of the period |  |  | 803 162.2760 |
| Class |  |  | Q-acc |
| Number of units outstanding at the beginning of the period |  |  | 42 336.8930 |
| Number of units issued |  |  | 8 885.6730 |
| Number of units redeemed |  |  | -6 660.4050 |
| Number of units outstanding at the end of the period |  |  | 44 562.1610 |
| Class |  |  | (EUR hedged) Q-acc |
| Number of units outstanding at the beginning of the period |  |  | 67 970.3790 |
| Number of units issued |  |  | 79 580.2210 |
| Number of units redeemed |  |  | -146 415.2000 |
| Number of units outstanding at the end of the period |  |  | 1 135.4000 |
| Class |  |  | Q-dist |
| Number of units outstanding at the beginning of the period |  |  | 11 922.5530 |
| Number of units issued |  |  | 1 104.1170 |
| Number of units redeemed |  |  | 0.0000 |
| Number of units outstanding at the end of the period |  |  | 13 026.6700 |
| Class |  |  | (CHF hedged) Q-dist |
| Number of units outstanding at the beginning of the period |  |  | 54 182.6870 |
| Number of units issued |  |  | 1 156.2830 |
| Number of units redeemed |  |  | -2 278.6960 |
| Number of units outstanding at the end of the period |  |  | 53 060.2740 |
| Class |  |  | U-X-acc |
| Number of units outstanding at the beginning of the period |  |  | 8 525.0000 |
| Number of units issued |  |  | 8 748.0000 |
| Number of units redeemed |  |  | -554.0000 |
| Number of units outstanding at the end of the period |  |  | 16 719.0000 |
| Class |  |  | U-X-UKdist-mdist |
| Number of units outstanding at the beginning of the period |  |  | 3 442.8840 |
| Number of units issued |  |  | 1 090.0100 |
| Number of units redeemed |  |  | -157.0000 |
| Number of units outstanding at the end of the period |  |  | 4 375.8940 |
| Annual Distribution 1 |  |  |  |
| UBS (Lux) Emerging Economies Fund – Global Bonds (USD)	Ex-Date | Pay-Date | Currency | Amount per unit |
| I-X-dist	2.11.2022 | 7.11.2022 | USD | 3.79 |
| (CHF hedged) P-dist	2.11.2022 | 7.11.2022 | CHF | 3.47 |
| Q-dist	2.11.2022 | 7.11.2022 | USD | 3.46 |
| (CHF hedged) Q-dist	2.11.2022 | 7.11.2022 | CHF | 3.71 |
| Monthly Distribution 1 |  |  |  |
| UBS (Lux) Emerging Economies Fund – Global Bonds (USD)	Ex-Date | Pay-Date | Currency | Amount per unit |
| P-mdist	15.9.2022 | 20.9.2022 | USD | 0.19 |
| P-mdist	17.10.2022 | 20.10.2022 | USD | 0.18 |
| P-mdist	15.11.2022 | 18.11.2022 | USD | 0.17 |
| P-mdist	15.12.2022 | 20.12.2022 | USD | 0.18 |
| P-mdist	17.1.2023 | 20.1.2023 | USD | 0.18 |
| P-mdist	15.2.2023 | 21.2.2023 | USD | 0.18 |
| U-X-UKdist-mdist	15.9.2022 | 20.9.2022 | USD | 56.86 |
| U-X-UKdist-mdist	17.10.2022 | 20.10.2022 | USD | 49.82 |
| U-X-UKdist-mdist	15.11.2022 | 18.11.2022 | USD | 54.10 |
| U-X-UKdist-mdist	15.12.2022 | 20.12.2022 | USD | 63.42 |
| U-X-UKdist-mdist	17.1.2023 | 20.1.2023 | USD | 55.92 |
| U-X-UKdist-mdist	15.2.2023 | 21.2.2023 | USD | 50.33 |
| 1  See note 5 |  |  |  |

UBS (Lux) Emerging Economies Fund – Global Bonds (USD) Semi-Annual Report as of 28 February 2023

### Statement of Investments in Securities and other Net Assets as of 28 February 2023
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Transferable securities and money market instruments listed on an official stock exchange |  |  |  |
| Notes, fixed rate |  |  |  |
| BRL |  |  |  |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF 10.00000% 22-01.01.33 | 105 400.00 | 16 607 178.61 | 2.58 |
| Total BRL |  | 16 607 178.61 | 2.58 |
| EUR |  |  |  |
| EUR	UKRAINE, GOVERNMENT OF-REG-S 4.37500% 20-27.01.32 | 7 600 000.00 | 1 329 867.00 | 0.21 |
| EUR	UKRAINE, GOVERNMENT OF-REG-S 6.75000% 19-20.06.28 | 800 000.00 | 138 554.33 | 0.02 |
| Total EUR |  | 1 468 421.33 | 0.23 |
| USD |  |  |  |
| USD	AEROPUERTO INTERNACIONAL DE TOCU-REG-S 5.12500% 21-11.08.61 | 3 000 000.00 | 2 352 750.00 | 0.37 |
| USD	ARGENTINA, REPUBLIC OF STEP-UP 20-09.07.30 | 6 450 000.00 | 2 089 800.00 | 0.33 |
| USD	ARGENTINA, REPUBLIC OF STEP-UP 20-09.07.35 | 2 600 000.00 | 739 700.00 | 0.12 |
| USD	ARGENTINA, REPUBLIC OF STEP-UP 20-09.01.38 | 4 400 000.00 | 1 533 950.00 | 0.24 |
| USD	ARGENTINE REPUBLIC GOVT INTERNATIONAL STEP-UP 20-09.07.46 | 10 750 000.00 | 3 099 359.37 | 0.48 |
| USD	BRAZIL LOAN TRUST 1-REG-S 5.47700% 13-24.07.23 | 2 870 000.00 | 235 182.19 | 0.04 |
| USD	BRAZIL, FEDERATIVE REPUBLIC OF 4.75000% 19-14.01.50 | 7 400 000.00 | 5 306 262.50 | 0.83 |
| USD	BRAZIL, REPUBLIC OF 3.75000% 21-12.09.31 | 9 550 000.00 | 8 026 775.00 | 1.25 |
| USD	CHILE, REPUBLIC OF 3.25000% 21-21.09.71 | 1 000 000.00 | 613 000.00 | 0.10 |
| USD	CHILE, REPUBLIC OF 3.50000% 21-15.04.53 | 4 650 000.00 | 3 306 731.25 | 0.51 |
| USD	CHINA EVERGRANDE GRO-REG-S *DEFAULTED* 12.00000% 20-22.01.24 | 950 000.00 | 80 750.00 | 0.01 |
| USD	CNAC HK FINBRIDGE CO LTD-REG-S 3.87500% 19-19.06.29 | 2 200 000.00 | 1 963 412.00 | 0.31 |
| USD	CNAC HK FINBRIDGE CO LTD-REG-S 3.00000% 20-22.09.30 | 1 000 000.00 | 825 570.00 | 0.13 |
| USD	COLOMBIA, REPUBLIC OF 5.20000% 19-15.05.49 | 1 400 000.00 | 925 575.00 | 0.14 |
| USD	COLOMBIA, REPUBLIC OF 7.50000% 23-02.02.34 | 4 000 000.00 | 3 784 000.00 | 0.59 |
| USD	CORP NACIONAL DEL COBRE DE-REG-S 5.12500% 23-02.02.33 | 2 100 000.00 | 2 034 112.50 | 0.32 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 7.15800% 15-12.03.45 | 1 800 000.00 | 1 741 275.00 | 0.27 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 6.12500% 19-19.02.31 | 2 500 000.00 | 2 417 656.25 | 0.38 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 7.25000% 19-08.04.26 | 1 975 000.00 | 1 347 937.50 | 0.21 |
| USD	DAE FUNDING LLC-REG-S 3.37500% 21-20.03.28 | 4 200 000.00 | 3 738 000.00 | 0.58 |
| USD	DOMINICAN REPUBLIC-REG-S 6.85000% 15-27.01.45 | 7 300 000.00 | 6 486 962.50 | 1.01 |
| USD	DOMINICAN REPUBLIC-REG-S 5.87500% 20-30.01.60 | 1 400 000.00 | 1 045 012.50 | 0.16 |
| USD	DOMINICAN REPUBLIC-REG-S 5.30000% 21-21.01.41 | 1 140 000.00 | 889 057.50 | 0.14 |
| USD	DOMINICAN REPUBLIC-REG-S 7.05000% 23-03.02.31 | 1 500 000.00 | 1 498 593.75 | 0.23 |
| USD	DUBAI, GOVERNMENT OF-REG-S 5.25000% 13-30.01.43 | 1 500 000.00 | 1 364 343.75 | 0.21 |
| USD	ECUADOR GOVT INTERNATIONAL BD-REG-S STEP-UP/DOWN 20-31.07.35 | 5 495 000.00 | 1 919 128.75 | 0.30 |
| USD	ECUADOR, REPUBLIC OF-REG-S STEP-UP 0.50000% 20-31.07.30 | 9 580 000.00 | 4 624 146.25 | 0.72 |
| USD	ECUADOR, REPUBLIC OF-REG-S STEP-UP 20-31.07.40 | 4 520 000.00 | 1 402 047.51 | 0.22 |
| USD	EGYPT, REPUBLIC OF-REG-S 7.62500% 20-29.05.32 | 2 600 000.00 | 1 835 925.00 | 0.29 |
| USD	EL SALVADOR, REPUBLIC OF-REG-S 8.62500% 17-28.02.29 | 3 150 000.00 | 1 568 700.00 | 0.24 |
| USD	EL SALVADOR, REPUBLIC OF-REG-S 8.25000% 02-10.04.32 | 2 500 000.00 | 1 243 437.50 | 0.19 |
| USD	EMPRESA DE L FERROCARRILE DEL EST-REG-S 3.06800% 20-18.08.50 | 1 500 000.00 | 908 718.75 | 0.14 |
| USD	EMPRESA DE TRANSPORTE DE PASA MET-REG-S 3.65000% 20-07.05.30 | 1 060 000.00 | 948 700.00 | 0.15 |
| USD	EMPRESA DE TRANSPORTE DE PASA MET-REG-S 4.70000% 20-07.05.50 | 1 330 000.00 | 1 131 165.00 | 0.18 |
| USD	EMPRESA NACIONAL DEL PETROLEO-REG-S 4.50000% 17-14.09.47 | 1 000 000.00 | 760 500.00 | 0.12 |
| USD	EMPRESA NACIONAL DEL PETROLEO-REG-S 5.25000% 18-06.11.29 | 1 600 000.00 | 1 514 300.00 | 0.24 |
| USD	EMPRESA NACIONAL DEL PETROLEO-REG-S 3.45000% 21-16.09.31 | 8 650 000.00 | 7 108 137.50 | 1.11 |
| USD	ESKOM HOLDINGS SOC LTD-REG-S 7.12500% 15-11.02.25 | 850 000.00 | 834 785.00 | 0.13 |
| USD	EXPORT-IMPORT BANK OF INDIA-REG-S 3.87500% 18-01.02.28 | 1 000 000.00 | 922 062.50 | 0.14 |
| USD	GABON, REPUBLIC OF-REG-S 6.62500% 20-06.02.31 | 1 300 000.00 | 1 052 431.25 | 0.16 |
| USD	GACI FIRST INVESTMENT CO-REG-S 5.00000% 22-13.10.27 | 2 450 000.00 | 2 419 375.00 | 0.38 |
| USD	GACI FIRST INVESTMENT CO-REG-S 4.75000% 23-14.02.30 | 3 000 000.00 | 2 927 970.00 | 0.46 |
| USD	GACI FIRST INVESTMENT CO-REG-S 4.87500% 23-14.02.35 | 3 850 000.00 | 3 652 879.99 | 0.57 |
| USD	GACI FIRST INVESTMENT CO-REG-S 5.12500% 23-14.02.53 | 2 450 000.00 | 2 202 550.00 | 0.34 |
| USD	GHANA GOVT INTNL BOND-REG-S 7.62500% 18-16.05.29 | 2 400 000.00 | 900 000.00 | 0.14 |
| USD	GHANA GOVT INTNL BOND-REG-S 8.62500% 21-07.04.34 | 4 750 000.00 | 1 781 250.00 | 0.28 |
| USD	GUATEMALA GOVERNMENT BOND-REG-S 4.65000% 21-07.10.41 | 850 000.00 | 685 471.88 | 0.11 |
| USD	GUATEMALA, REPUBLIC OF-REG-S 5.25000% 22-10.08.29 | 2 400 000.00 | 2 299 200.00 | 0.36 |
| USD	HERITAGE PETROLEUM CO LTD-REG-S 9.00000% 22-12.08.29 | 2 500 000.00 | 2 618 750.00 | 0.41 |
| USD	HONDURAS, REPUBLIC OF-REG-S 5.62500% 20-24.06.30 | 1 480 000.00 | 1 178 265.00 | 0.18 |
| USD	HTA GROUP LTD/MAURITIUS-REG-S 7.00000% 20-18.12.25 | 1 500 000.00 | 1 417 781.25 | 0.22 |
| USD	HUNGARY, REPUBLIC OF-REG-S 5.50000% 22-16.06.34 | 1 200 000.00 | 1 147 500.00 | 0.18 |
| USD	HUNGARY, REPUBLIC OF-REG-S 2.12500% 21-22.09.31 | 2 140 000.00 | 1 631 750.00 | 0.25 |
| USD	HUNGARY, REPUBLIC OF-REG-S 3.12500% 21-21.09.51 | 1 800 000.00 | 1 093 500.00 | 0.17 |
| USD	HUNGARY, REPUBLIC OF-REG-S 6.12500% 23-22.05.28 | 3 500 000.00 | 3 545 500.00 | 0.55 |
| USD	HUNGARY, REPUBLIC OF-REG-S 6.25000% 22-22.09.32 | 3 950 000.00 | 3 994 437.50 | 0.62 |
| USD	HUNGARY, REPUBLIC OF-REG-S 6.75000% 22-25.09.52 | 2 400 000.00 | 2 460 000.00 | 0.38 |
| USD	INDONESIA, REPUBLIC OF 2.85000% 20-14.02.30 | 5 370 000.00 | 4 733 319.37 | 0.74 |
| USD	INDONESIA, REPUBLIC OF 4.45000% 20-15.04.70 | 1 300 000.00 | 1 085 643.00 | 0.17 |
| USD	INDONESIA, REPUBLIC OF 4.85000% 23-11.01.33 | 3 200 000.00 | 3 132 352.00 | 0.49 |
| USD	INDONESIA, REPUBLIC OF 5.65000% 23-11.01.53 | 1 800 000.00 | 1 822 698.00 | 0.28 |
| USD	INDONESIA, REPUBLIC OF-REG-S 7.75000% 08-17.01.38 | 1 485 000.00 | 1 812 442.50 | 0.28 |
| USD	INSTITUTO COSTARRICENSE DE ELECT-REG-S 6.75000% 21-07.10.31 | 2 300 000.00 | 2 190 462.50 | 0.34 |
| USD	IPOTEKA-BANK ATIB-REG-S 5.50000% 20-19.11.25 | 1 110 000.00 | 1 043 261.25 | 0.16 |
| USD	JORDAN, KINGDOM OF-REG-S 5.85000% 20-07.07.30 | 4 650 000.00 | 4 196 625.00 | 0.65 |
| USD	JSC GEORGIAN RAILWAY-REG-S 4.00000% 21-17.06.28 | 1 500 000.00 | 1 312 500.00 | 0.20 |
| USD	KAZMUNAYGAS NATIONAL CO-REG-S 6.37500% 18-24.10.48 | 2 000 000.00 | 1 675 000.00 | 0.26 |
| USD	KAZTRANSGAS JSC-REG-S 4.37500% 17-26.09.27 | 1 000 000.00 | 898 000.00 | 0.14 |
| USD	KENYA, REPUBLIC OF-REG-S 7.25000% 18-28.02.28 | 2 045 000.00 | 1 766 368.75 | 0.28 |
| USD	KENYA, REPUBLIC OF-REG-S 8.00000% 19-22.05.32 | 2 550 000.00 | 2 177 062.50 | 0.34 |
| USD	LIQUID TELECOMMUNICATIONS FIN-REG-S 5.50000% 21-04.09.26 | 1 800 000.00 | 1 251 000.00 | 0.19 |
| USD	MDGH GMTN RSC LTD-REG-S 5.50000% 22-28.04.33 | 2 500 000.00 | 2 589 250.00 | 0.40 |
| USD	MEXICO GOVERNMENT INTERNATIONAL BOND 2.65900% 20-24.05.31 | 500 000.00 | 403 500.00 | 0.06 |
| USD	MEXICO, UNITED STATES OF 4.28000% 21-14.08.41 | 3 000 000.00 | 2 394 937.50 | 0.37 |
| USD	MEXICO, UNITED STATES OF 3.50000% 22-12.02.34 | 6 900 000.00 | 5 602 800.00 | 0.87 |
| USD	MEXICO, UNITED STATES OF 4.87500% 22-19.05.33 | 7 250 000.00 | 6 728 000.00 | 1.05 |

UBS (Lux) Emerging Economies Fund – Global Bonds (USD) Semi-Annual Report as of 28 February 2023
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | MEXICO, UNITED STATES OF 6.35000% 23-09.02.35 | 2 800 000.00 | 2 875 600.00 | 0.45 |
| USD | MONGOLIA,GOVERNMENT OF-REG-S 8.65000% 23-19.01.28 | 2 000 000.00 | 2 027 720.00 | 0.32 |
| USD | MOZAMBIQUE INT BOND-REG-S STEP-UP 19-15.09.31 | 1 444 000.00 | 1 093 198.25 | 0.17 |
| USD | NATIONAL BANK OF UZBEKISTAN-REG-S 4.85000% 20-21.10.25 | 760 000.00 | 710 600.00 | 0.11 |
| USD | NIGERIA, FEDERAL REPUBLIC OF-REG-S 7.62500% 18-21.11.25 | 3 500 000.00 | 3 150 000.00 | 0.49 |
| USD | OCP SA-REG-S 5.12500% 21-23.06.51 | 1 110 000.00 | 799 200.00 | 0.12 |
| USD | OCP SA-REG-S 6.87500% 14-25.04.44 | 1 000 000.00 | 908 750.00 | 0.14 |
| USD | OIL AND GAS HOLDING CO BSCC/THE-REG-S 7.62500% 18-07.11.24 | 2 360 000.00 | 2 401 300.00 | 0.37 |
| USD | OIL AND GAS HOLDING CO BSCC/THE-REG-S 8.37500% 18-07.11.28 | 2 520 000.00 | 2 658 600.00 | 0.41 |
| USD | OMAN GOVERNMENT INTERNATIONAL-REG-S 7.00000% 21-25.01.51 | 2 300 000.00 | 2 268 375.00 | 0.35 |
| USD | OMAN GOVT INTERNATIONAL BOND-REG-S 6.75000% 18-17.01.48 | 6 700 000.00 | 6 423 625.00 | 1.00 |
| USD | OMAN GOVT INTERNATIONAL BOND-REG-S 6.25000% 21-25.01.31 | 3 000 000.00 | 3 024 000.00 | 0.47 |
| USD | PAKISTAN, ISLAMIC REPUBLIC OF-REG-S 6.87500% 17-05.12.27 | 3 030 000.00 | 1 333 533.30 | 0.21 |
| USD | PANAMA, REPUBLIC OF 3.87000% 19-23.07.60 | 4 480 000.00 | 2 852 640.00 | 0.44 |
| USD | PANAMA, REPUBLIC OF 4.50000% 20-01.04.56 | 3 230 000.00 | 2 353 458.75 | 0.37 |
| USD | PANAMA, REPUBLIC OF 4.50000% 22-19.01.63 | 1 700 000.00 | 1 211 568.75 | 0.19 |
| USD | PANAMA, REPUBLIC OF 6.40000% 22-14.02.35 | 3 850 000.00 | 3 956 596.88 | 0.62 |
| USD | PARAGUAY, REPUBLIC OF-REG-S 6.10000% 14-11.08.44 | 1 150 000.00 | 1 083 012.50 | 0.17 |
| USD | PARAGUAY, REPUBLIC OF-REG-S 5.60000% 18-13.03.48 | 3 600 000.00 | 3 088 800.00 | 0.48 |
| USD | PERTAMINA PT-REG-S 6.50000% 11-27.05.41 | 1 680 000.00 | 1 697 115.00 | 0.26 |
| USD | PERTAMINA PT-REG-S 6.00000% 12-03.05.42 | 1 000 000.00 | 966 400.00 | 0.15 |
| USD | PERU, REPUBLIC OF 3.30000% 21-11.03.41 | 3 600 000.00 | 2 618 550.00 | 0.41 |
| USD | PERU, REPUBLIC OF 3.55000% 21-10.03.51 | 1 150 000.00 | 814 918.75 | 0.13 |
| USD | PERU, REPUBLIC OF 3.00000% 21-15.01.34 | 1 750 000.00 | 1 375 171.86 | 0.21 |
| USD | PERUSAHAAN LISTRIK NEGARA PT-REG-S 4.87500% 19-17.07.49 | 2 500 000.00 | 1 994 218.75 | 0.31 |
| USD | PERUSAHAAN PENERBIT SBSN-REG-S 4.40000% 18-01.03.28 | 1 890 000.00 | 1 852 407.90 | 0.29 |
| USD | PERUVIAN GOVERNMENT INTERNATIONAL BOND 1.86200% 20-01.12.32 | 5 000 000.00 | 3 622 812.50 | 0.56 |
| USD | PERUVIAN GOVERNMENT INTERNATIONAL BOND 2.78000% 20-01.12.60 | 2 600 000.00 | 1 493 862.50 | 0.23 |
| USD | PETROLEOS DE VENEZUE-REG-S *DEFAULTED* 5.50000% 07-12.04.37 | 7 750 000.00 | 348 750.00 | 0.05 |
| USD | PETROLEOS MEXICANOS 6.70000% 22-16.02.32 | 5 700 000.00 | 4 512 120.00 | 0.70 |
| USD | PETROLEOS MEXICANOS 7.69000% 20-23.01.50 | 9 600 000.00 | 6 743 520.00 | 1.05 |
| USD | PETROLEOS MEXICANOS-REG-S 10.00000% 23-07.02.33 | 8 400 000.00 | 8 050 560.00 | 1.25 |
| USD | PETRORIO LUXEMBOURG SARL-REG-S 6.12500% 21-09.06.26 | 1 700 000.00 | 1 605 990.00 | 0.25 |
| USD | PHILIPPINES, REPUBLIC OF THE 2.95000% 20-05.05.45 | 2 210 000.00 | 1 563 818.10 | 0.24 |
| USD | PHILIPPINES, REPUBLIC OF THE 2.45700% 20-05.05.30 | 1 000 000.00 | 840 110.00 | 0.13 |
| USD | PHILIPPINES, REPUBLIC OF THE 3.55600% 22-29.09.32 | 1 700 000.00 | 1 504 687.00 | 0.23 |
| USD | PHILIPPINES, REPUBLIC OF THE 5.00000% 23-17.07.33 | 3 800 000.00 | 3 757 668.00 | 0.59 |
| USD | PHILIPPINES, REPUBLIC OF THE 5.50000% 23-17.01.48 | 1 700 000.00 | 1 721 437.00 | 0.27 |
| USD | QATAR PETROLEUM-REG-S 2.25000% 21-12.07.31 | 5 280 000.00 | 4 325 640.00 | 0.67 |
| USD | QATAR PETROLEUM-REG-S 3.30000% 21-12.07.51 | 3 500 000.00 | 2 540 343.75 | 0.40 |
| USD | QATAR PETROLEUM-REG-S 3.12500% 21-12.07.41 | 4 200 000.00 | 3 174 412.50 | 0.49 |
| USD | QATAR, STATE OF-REG-S 3.75000% 20-16.04.30 | 2 500 000.00 | 2 371 562.51 | 0.37 |
| USD | QATAR, STATE OF-REG-S 4.40000% 20-16.04.50 | 4 450 000.00 | 3 993 875.00 | 0.62 |
| USD | ROMANIA-REG-S 3.00000% 20-14.02.31 | 4 320 000.00 | 3 488 400.00 | 0.54 |
| USD | ROMANIA-REG-S 3.62500% 22-27.03.32 | 5 000 000.00 | 4 112 500.00 | 0.64 |
| USD | ROMANIA-REG-S 7.12500% 23-17.01.33 | 3 000 000.00 | 3 142 500.00 | 0.49 |
| USD | ROMANIA-REG-S 7.62500% 23-17.01.53 | 1 300 000.00 | 1 403 187.50 | 0.22 |
| USD | SENEGAL, REPUBLIC OF-REG-S 6.75000% 18-13.03.48 | 2 150 000.00 | 1 507 687.50 | 0.23 |
| USD | SINOPEC GROUP OVERSEA DEVELOPMENT-REG-S 3.50000% 16-03.05.26 | 1 970 000.00 | 1 869 667.90 | 0.29 |
| USD | SINOPEC GROUP OVERSEAS DEVELOPMNT-REG-S 4.10000% 15-28.04.45 | 900 000.00 | 773 982.00 | 0.12 |
| USD | SINOPEC GRP OVERSEAS DEV LTD-REG-S 4.25000% 18-12.09.28 | 2 870 000.00 | 2 787 889.30 | 0.43 |
| USD | SINOPEC GUP OVERSEAS DEVPT-REG-S 2.30000% 21-08.01.31 | 2 000 000.00 | 1 688 620.00 | 0.26 |
| USD | SOUTH AFRICA, REPUBLIC OF 5.65000% 17-27.09.47 | 4 850 000.00 | 3 528 375.00 | 0.55 |
| USD | SOUTH AFRICA, REPUBLIC OF 4.85000% 19-30.09.29 | 3 100 000.00 | 2 724 125.00 | 0.42 |
| USD | SOUTH AFRICA, REPUBLIC OF 5.75000% 19-30.09.49 | 3 050 000.00 | 2 215 062.50 | 0.35 |
| USD | TRINIDAD & TOBAGO, REPUBLIC OF-REG-S 4.50000% 20-26.06.30 | 1 500 000.00 | 1 406 062.51 | 0.22 |
| USD | TURKEY, REPUBLIC OF 4.75000% 21-26.01.26 | 2 000 000.00 | 1 785 000.00 | 0.28 |
| USD | TURKEY, REPUBLIC OF 6.50000% 21-20.09.33 | 5 950 000.00 | 4 774 875.00 | 0.74 |
| USD | TURKEY, REPUBLIC OF 9.87500% 22-15.01.28 | 4 900 000.00 | 4 967 375.00 | 0.77 |
| USD | TURKEY, REPUBLIC OF 8.60000% 22-24.09.27 | 2 000 000.00 | 1 962 500.00 | 0.31 |
| USD | TURKEY,REPUBLIC OF 9.37500% 23-19.01.33 | 4 500 000.00 | 4 342 500.00 | 0.68 |
| USD | TURKIYE IHRACAT KREDI BANKASI AS-REG-S 9.37500% 23-31.01.26 | 3 350 000.00 | 3 299 750.00 | 0.51 |
| USD | UKRAINE RAILWAYS VIA RL CPTL MKTS-REG-S 8.25000% 19-09.07.24 | 2 350 000.00 | 458 250.00 | 0.07 |
| USD | UKRAINE, GOVERNMENT OF-REG-S STEP UP/DOWN 15-01.09.26 | 4 000 000.00 | 730 750.00 | 0.11 |
| USD | UKRAINE, GOVERNMENT OF-REG-S STEP UP/DOWN 15-01.09.27 | 5 000 000.00 | 896 250.00 | 0.14 |
| USD | UKRAINE, GOVERNMENT OF-REG-S STEP UP/DOWN 17-25.09.34 | 5 200 000.00 | 891 800.00 | 0.14 |
| USD | UKRAINE, GOVERNMENT OF-REG-S 7.25300% 20-15.03.35 | 5 300 000.00 | 900 337.50 | 0.14 |
| USD | UNIFIN FINANCIE DE CV-REG-S *DEFAULTED*9.87500% 21-28.01.29 | 1 700 000.00 | 42 500.00 | 0.01 |
| USD | UZBEKNEFTEGAZ JSC-REG-S 4.75000% 21-16.11.28 | 4 000 000.00 | 3 310 000.00 | 0.52 |
| USD | VEDANTA RESOURCES PLC-REG-S 7.12500% 13-31.05.23 | 1 800 000.00 | 1 645 650.00 | 0.26 |
| USD | VENEZUELA, REP. OF-REG-S *DEFAULTED* 7.75000% 09-13.10.19 | 9 055 000.00 | 745 679.25 | 0.12 |
| USD | YUZHOU GROUP HOLDINGS-REG-S *DEFAULTED* 7.85000% 20-12.08.26 | 800 000.00 | 102 000.00 | 0.02 |
| USD | ZAMBIA, REPUBLIC OF-REG-S *DEFAULTED* 8.97000% 15-30.07.27 | 4 900 000.00 | 2 180 500.00 | 0.34 |
| Total USD |  |  | 339 385 662.07 | 52.82 |
| Total Notes, fixed rate |  | 357 461 262.01 | 55.63 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	CORP FINANCIERA DE DESARROL-REG-S-SUB 5.250%/VAR 14-15.07.29 | 3 050 000.00 | 2 933 337.50 | 0.46 |
| USD	DP WORLD SALAAM-REG-S-SUB 6.000%/VAR 20-PRP | 1 300 000.00 | 1 291 875.00 | 0.20 |
| Total USD |  | 4 225 212.50 | 0.66 |
| Total Notes, floating rate |  | 4 225 212.50 | 0.66 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	ABU DHABI PORTS CO PJSC-REG-S 2.50000% 21-06.05.31 | 1 660 000.00 | 1 366 014.00 | 0.21 |
| USD	ABU DHABI, EMIRATE OF-REG-S 3.12500% 20-16.04.30 | 1 060 000.00 | 971 225.00 | 0.15 |
| USD	ABU DHABI, EMIRATE OF-REG-S 3.87500% 20-16.04.50 | 1 700 000.00 | 1 398 250.00 | 0.22 |
| USD	ANGOLAN GOVT INTERNATIONAL BOND-REG-S 9.12500% 19-26.11.49 | 3 900 000.00 | 3 305 250.00 | 0.51 |
| USD	BAHRAIN GVT INTERNATIONAL BOND-REG-S 5.25000% 21-25.01.33 | 3 000 000.00 | 2 613 750.00 | 0.41 |
| USD	DP WORLD CRESCENT LTD-REG-S 3.87500% 19-18.07.29 | 5 500 000.00 | 5 109 156.25 | 0.79 |

UBS (Lux) Emerging Economies Fund – Global Bonds (USD) Semi-Annual Report as of 28 February 2023
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  |  | Nominal | Unrealized gain | of net |
|  |  |  | (loss) on Futures/ | assets |
|  |  |  | Forward |  |
|  |  |  | Exchange Contracts/ |  |
|  |  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | DUBAI, GOVERNMENT OF-REG-S 3.90000% 20-09.09.50 | 6 350 000.00 | 4 505 721.88 | 0.70 |
| USD | EGYPT, REPUBLIC OF-REG-S 8.50000% 17-31.01.47 | 3 500 000.00 | 2 231 250.00 | 0.35 |
| USD | EGYPT, REPUBLIC OF-REG-S 3.87500% 21-16.02.26 | 6 580 000.00 | 5 231 100.00 | 0.81 |
| USD | EGYPT, REPUBLIC OF-REG-S 7.30000% 21-30.09.33 | 4 800 000.00 | 3 240 000.00 | 0.50 |
| USD | EGYPT, REPUBLIC OF-REG-S 8.75000% 21-30.09.51 | 5 300 000.00 | 3 392 000.00 | 0.53 |
| USD | EXPORT-IMPORT BANK OF INDIA-REG-S 3.25000% 20-15.01.30 | 400 000.00 | 345 075.00 | 0.05 |
| USD | FINANCE DEP GOVT OF SHARJAH-REG-S 4.37500% 21-10.03.51 | 660 000.00 | 445 500.00 | 0.07 |
| USD | FINANCE DEPRTMENT GOVT OF SHARJAH-REG-S 3.62500% 21-10.03.33 | 3 580 000.00 | 2 877 425.00 | 0.45 |
| USD | GREENKO POWER II LTD-REG-S 4.30000% 21-13.12.28 | 1 000 000.00 | 805 661.87 | 0.13 |
| USD | INDONESIA, REPUBLIC OF-REG-S 4.75000% 17-18.07.47 | 3 040 000.00 | 2 819 934.40 | 0.44 |
| USD | KAZAKHSTAN, REPUBLIC OF-REG-S 6.50000% 15-21.07.45 | 2 830 000.00 | 2 992 371.25 | 0.47 |
| USD | LEBANON, REPUBLIC OF *DEFAULT* 6.37500% 10-09.03.20 | 4 150 000.00 | 283 496.88 | 0.04 |
| USD | NIGERIA, FEDERAL REP OF-REG-S 7.37500% 21-28.09.33 | 3 600 000.00 | 2 610 000.00 | 0.41 |
| USD | NIGERIA, FEDERAL REP OF-REG-S 8.25000% 21-28.09.51 | 3 000 000.00 | 2 070 000.00 | 0.32 |
| USD | NIGERIA, FEDERAL REP OF-REG-S 8.37500% 22-24.03.29 | 3 000 000.00 | 2 527 500.00 | 0.39 |
| USD | OMAN GOVT INTERNATIONAL BOND-REG-S 6.00000% 19-01.08.29 | 1 940 000.00 | 1 936 120.00 | 0.30 |
| USD | PAKISTAN, ISLAMIC REPUBLIC OF-REG-S 7.37500% 21-08.04.31 | 2 000 000.00 | 860 220.00 | 0.13 |
| USD | PERTAMINA PERSERO PT-REG-S 4.15000% 20-25.02.60 | 1 000 000.00 | 708 312.50 | 0.11 |
| USD | PERUSAHAAN LISTRIK NEGARA PT-REG-S 5.45000% 18-21.05.28 | 2 743 000.00 | 2 708 369.63 | 0.42 |
| USD | PETRONAS CAPITAL LTD-REG-S 3.50000% 20-21.04.30 | 9 500 000.00 | 8 657 350.00 | 1.35 |
| USD | PETRONAS CAPITAL LTD-REG-S 4.80000% 20-21.04.60 | 2 000 000.00 | 1 835 375.00 | 0.29 |
| USD | PETRONAS CAPITAL LTD-REG-S 2.48000% 21-28.01.32 | 6 500 000.00 | 5 329 187.51 | 0.83 |
| USD | POLAND, REPUBLIC OF 5.50000% 22-16.11.27 | 3 850 000.00 | 3 924 767.00 | 0.61 |
| USD | POLAND, REPUBLIC OF 5.75000% 22-16.11.32 | 3 000 000.00 | 3 139 440.00 | 0.49 |
| USD | ROMANIA -REG-S 6.00000% 22-25.05.34 | 1 000 000.00 | 970 000.00 | 0.15 |
| USD | SAUDI GOVERNMENT INTERNATIONAL BD-REG-S 4.50000% 16-26.10.46 | 950 000.00 | 816 287.50 | 0.13 |
| USD | SAUDI GOVERNMENT INTERNATIONAL BD-REG-S 5.00000% 18-17.04.49 | 1 000 000.00 | 918 750.00 | 0.14 |
| USD | SAUDI GOVERNMENT INTERNATIONAL BD-REG-S 3.45000% 21-02.02.61 | 7 800 000.00 | 5 368 837.50 | 0.84 |
| USD | SAUDI GOVERNMENT INTERNATIONAL BD-REG-S 4.75000% 23-18.01.28 | 2 700 000.00 | 2 669 625.00 | 0.42 |
| USD | SAUDI GOVERNMENT INTERNATIONAL BD-REG-S 4.87500% 23-18.07.33 | 2 900 000.00 | 2 856 500.00 | 0.44 |
| USD | SAUDI GOVERNMENT INTERNATIONAL-REG-S 5.00000% 23-18.01.53 | 2 100 000.00 | 1 916 250.00 | 0.30 |
| Total USD |  |  | 95 756 073.17 | 14.90 |
| Total Medium term notes, fixed rate |  | 95 756 073.17 | 14.90 |
| Bonds, fixed rate |  |  |  |
| MXN |  |  |  |
| MXN	MEXICO, UNITED MEXICAN STATES 7.50000% 22-26.05.33 | 500 000.00 | 2 401 036.83 | 0.37 |
| Total MXN |  | 2 401 036.83 | 0.37 |
| USD |  |  |  |
| USD	ANGOLAN GOVT INTERNATIONAL BOND-REG-S 8.25000% 18-09.05.28 | 4 400 000.00 | 4 064 500.00 | 0.63 |
| USD	ARGENTINA, REPUBLIC OF STEP-UP 20-09.07.41 | 4 000 000.00 | 1 256 000.00 | 0.19 |
| USD	AUTORIDAD DEL CANAL DE PANAMA-REG-S 4.95000% 15-29.07.35 | 2 250 000.00 | 2 099 953.12 | 0.33 |
| USD	BAHRAIN GVT INTERNATIONAL BOND-REG-S 7.00000% 16-12.10.28 | 3 000 000.00 | 3 067 500.00 | 0.48 |
| USD	BAHRAIN GVT INTERNATIONAL BOND-REG-S 7.50000% 17-20.09.47 | 4 600 000.00 | 4 278 000.00 | 0.67 |
| USD	COLOMBIA, REPUBLIC OF 7.37500% 06-18.09.37 | 1 660 000.00 | 1 536 330.00 | 0.24 |
| USD	COLOMBIA, REPUBLIC OF 6.12500% 09-18.01.41 | 6 450 000.00 | 5 034 225.00 | 0.78 |
| USD	COLOMBIA, REPUBLIC OF 8.00000% 22-20.04.33 | 4 900 000.00 | 4 838 137.50 | 0.75 |
| USD	CORP NACIONAL DEL COBRE DE CHILE-REG-S 5.62500% 13-18.10.43 | 1 800 000.00 | 1 736 212.50 | 0.27 |
| USD	DEVELOPMENT BANK OF MONGOLIA LLC-REG-S 7.25000% 18-23.10.23 | 2 000 000.00 | 1 894 750.00 | 0.29 |
| USD	DOMINICAN REPUBLIC INTERNATIONAL-REG-S 6.00000% 22-22.02.33 | 5 750 000.00 | 5 203 031.26 | 0.81 |
| USD	DOMINICAN REPUBLIC-REG-S 5.50000% 22-22.02.29 | 3 250 000.00 | 3 006 859.38 | 0.47 |
| USD	EL SALVADOR, REPUBLIC OF-REG-S 7.65000% 05-15.06.35 | 2 390 000.00 | 1 103 582.50 | 0.17 |
| USD	GABON, REPUBLIC OF-REG-S 6.95000% 15-16.06.25 | 1 950 000.00 | 1 869 562.50 | 0.29 |
| USD	GHANA GOVT INTNL BOND-REG-S 7.87500% 19-26.03.27 | 1 805 000.00 | 703 950.00 | 0.11 |
| USD	GHANA GOVT INTNL BOND-REG-S 8.95000% 19-26.03.51 | 2 700 000.00 | 988 875.00 | 0.15 |
| USD	GHANA GOVT INTNL BOND-REG-S 8.75000% 20-11.03.61 | 7 750 000.00 | 2 819 062.50 | 0.44 |
| USD	GUATEMALA, REPUBLIC OF-REG-S 8.12500% 04-06.10.34 | 2 720 000.00 | 3 025 660.00 | 0.47 |
| USD	IHS HOLDING LTD-REG-S 5.62500% 21-29.11.26 | 1 500 000.00 | 1 272 468.75 | 0.20 |
| USD	IRAQ INTERNATIONAL BOND-REG-S 5.80000% 06-15.01.28 | 3 700 000.00 | 2 119 261.71 | 0.33 |
| USD	IRAQ INTERNATIONAL BOND-REG-S 6.75200% 17-09.03.23 | 500 000.00 | 498 100.00 | 0.08 |
| USD	IVORY COAST, REPUBLIC OF-REG-S 6.37500% 15-03.03.28 | 600 000.00 | 567 000.00 | 0.09 |
| USD	IVORY COAST, REPUBLIC OF-REG-S 6.12500% 17-15.06.33 | 2 050 000.00 | 1 763 000.00 | 0.27 |
| USD	JAMAICA, GOVERNMENT OF 8.00000% 07-15.03.39 | 3 750 000.00 | 4 490 625.00 | 0.70 |
| USD	LEBANON, REPUBLIC OF-REG-S *DEFAULTED* 6.00000% 12-27.01.23 | 13 000 000.00 | 888 062.50 | 0.14 |
| USD	LEBANON, REPUBLIC OF-REG-S *DEFAULTED* 6.20000% 15-26.02.25 | 11 000 000.00 | 742 500.00 | 0.12 |
| USD	LEBANON, REPUBLIC OF-REG-S *DEFAULTED* 7.05000% 15-02.11.35 | 5 200 000.00 | 351 000.00 | 0.05 |
| USD	LEBANON, REPUBLIC OF-REG-S *DEFAULTED* 6.65000% 15-03.11.28 | 1 500 000.00 | 101 250.00 | 0.02 |
| USD	LEBANON, REPUBLIC OF-REG-S *DEFAULTED* 6.65000% 16-22.04.24 | 3 500 000.00 | 239 093.75 | 0.04 |
| USD	PERU, REPUBLIC OF 2.78300% 20-23.01.31 | 2 500 000.00 | 2 058 281.25 | 0.32 |
| USD	PERUSAHAAN PENERBIT SBSN-REG-S 2.80000% 20-23.06.30 | 3 150 000.00 | 2 747 981.25 | 0.43 |
| USD	PETROLEOS DE VENEZUE-REG-S *DEFAULTED* 6.00000% 14-16.05.24 | 29 400 000.00 | 1 323 000.00 | 0.21 |
| USD	PHILIPPINES, REPUBLIC OF THE 6.37500% 07-15.01.32 | 1 695 000.00 | 1 824 430.20 | 0.28 |
| USD	PHILIPPINES, REPUBLIC OF THE 3.70000% 16-01.03.41 | 1 675 000.00 | 1 344 371.75 | 0.21 |
| USD	PHILIPPINES, REPUBLIC OF THE 3.70000% 17-02.02.42 | 3 360 000.00 | 2 679 600.00 | 0.42 |
| USD	QATAR, STATE OF-REG-S 4.62500% 16-02.06.46 | 950 000.00 | 883 084.37 | 0.14 |
| USD	RUSSIA, FEDERATION OF-REG-S 4.37500% 18-21.03.29 | 7 400 000.00 | 3 034 000.00 | 0.47 |
| USD	RUSSIA, FEDERATION OF-REG-S 5.10000% 19-28.03.35 | 4 600 000.00 | 1 886 000.00 | 0.29 |
| USD	SHARJAH SUKUK PROGRAM LTD 2.94200% 20-10.06.27 | 2 200 000.00 | 1 974 912.50 | 0.31 |
| USD	SOUTH AFRICA, REPUBLIC OF 4.30000% 16-12.10.28 | 4 000 000.00 | 3 540 000.00 | 0.55 |
| USD	TURKEY, REPUBLIC OF 5.87500% 21-26.06.31 | 4 300 000.00 | 3 407 750.00 | 0.53 |
| USD	URUGUAY, REPUBLIC OF 5.10000% 14-18.06.50 | 8 700 000.00 | 8 517 300.00 | 1.33 |
| USD	URUGUAY, REPUBLIC OF 4.97500% 18-20.04.55 | 500 000.00 | 478 500.00 | 0.07 |
| USD	VENEZUELA, REP. OF-REG-S *DEFAULTED* 7.00000% 07-31.03.38 | 7 055 000.00 | 687 862.50 | 0.11 |
| USD	VIETNAM, SOCIALIST REPUBLIC-REG-S 4.80000% 14-19.11.24 | 800 000.00 | 781 088.00 | 0.12 |
| Total USD |  | 98 726 714.79 | 15.37 |
| Total Bonds, fixed rate |  | 101 127 751.62 | 15.74 |

UBS (Lux) Emerging Economies Fund – Global Bonds (USD) Semi-Annual Report as of 28 February 2023
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Bonds, floating rate |  |  |  |
| USD |  |  |  |
| USD	NBK TIER 1 FINANCING LTD-REG-S-SUB 3.625%/VAR 21-PRP | 1 500 000.00 | 1 326 375.00 | 0.21 |
| USD	UKRAINE, GOVERNMENT OF-REG-S VAR 15-01.08.41 | 4 300 000.00 | 1 163 150.00 | 0.18 |
| Total USD |  | 2 489 525.00 | 0.39 |
| Total Bonds, floating rate |  | 2 489 525.00 | 0.39 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 561 059 824.30 | 87.32 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Treasury bills, zero coupon |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF TB 0.00000% 20.12.22-18.04.23 | 12 900 000.00 | 12 820 815.54 | 2.00 |
| Total USD |  | 12 820 815.54 | 2.00 |
| Total Treasury bills, zero coupon |  | 12 820 815.54 | 2.00 |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	BRAZIL MINAS SPE-REG-S 5.33300% 13-15.02.28 | 1 550 000.00 | 758 434.37 | 0.12 |
| USD	PETROLEOS DE VENEZUE-REG-S *DEFAULTED* 6.00000% 13-15.11.26 | 11 700 000.00 | 526 500.00 | 0.08 |
| USD	SURINAME, REPUBLIC OF-REG-S *DEFAULTED* 9.25000% 16-26.10.26 | 600 000.00 | 403 800.00 | 0.06 |
| Total USD |  | 1 688 734.37 | 0.26 |
| Total Notes, fixed rate |  | 1 688 734.37 | 0.26 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	1MDB GLOBAL INV-REG-S 4.40000% 13-09.03.23 | 6 500 000.00 | 6 455 150.00 | 1.01 |
| USD	POWER SECTOR ASST & LIAB MGT CORP 9.62500% 03-15.05.28 | 4 520 000.00 | 5 223 425.00 | 0.81 |
| Total USD |  | 11 678 575.00 | 1.82 |
| Total Bonds, fixed rate |  | 11 678 575.00 | 1.82 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 26 188 124.91 | 4.08 |
| Other money market instruments in accordance with Article 41 (1) h) |  |  |  |
| Treasury bills, zero coupon |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF TB 0.00000% 08.11.22-07.03.23 | 12 800 000.00 | 12 790 580.74 | 1.99 |
| Total USD | 12 790 580.74 | 1.99 |
| Total Treasury bills, zero coupon | 12 790 580.74 | 1.99 |
| Total Other money market instruments in accordance with Article 41 (1) h) | 12 790 580.74 | 1.99 |
| UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 |  |  |
| Investment funds, open end |  |  |
| Luxembourg |  |  |
| USD	UBS (LUX) BOND SICAV - CHINA HIGH YIELD (USD) U-X-ACC	500.00 | 2 884 195.00 | 0.45 |
| Total Luxembourg | 2 884 195.00 | 0.45 |
| Total Investment funds, open end | 2 884 195.00 | 0.45 |
| Total UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 | 2 884 195.00 | 0.45 |
| Total investments in securities | 602 922 724.95 | 93.84 |

| Derivative instruments |  |
| --- | --- |
| Derivative instruments listed on an official stock exchange |
| Financial Futures on bonds |
|  |  |  |  |
| USD	US 10YR ULTRA NOTE FUTURE 21.06.23 | -783.00 | -91 500.00 | -0.01 |
| USD	US ULTRA LONG BOND (CBT) FUTURE 21.06.23 | -8.00 | 2 000.00 | 0.00 |
| USD	US LONG BOND FUTURE 21.06.23 | 182.00 | -59 718.75 | -0.01 |
| USD	US 10YR TREASURY NOTE FUTURE 21.06.23 | 46.00 | 0.00 | 0.00 |
| USD	US 2YR TREASURY NOTE FUTURE 30.06.23 | 310.00 | -142 890.78 | -0.02 |
| USD	US 5YR TREASURY NOTE FUTURE 30.06.23 | 228.00 | -44 531.14 | -0.01 |
| Total Financial Futures on bonds |  | -336 640.67 | -0.05 |
| Total Derivative instruments listed on an official stock exchange |  | -336 640.67 | -0.05 |
| Total Derivative instruments |  | -336 640.67 | -0.05 |

UBS (Lux) Emerging Economies Fund – Global Bonds (USD) Semi-Annual Report as of 28 February 2023
| Description	Quantity/ | Valuation in USD | as a % |
| --- | --- | --- |
| Nominal | Unrealized gain | of net |
|  | (loss) on Futures/ | assets |
|  | Forward |  |
|  | Exchange Contracts/ |  |
|  | Swaps (Note 1) |  |

Forward Foreign Exchange contracts
Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date
| USD | 2 755 102.04 | PEN | 10 800 000.00 | 16.3.2023 | -79 394.84 | -0.01 |
| --- | --- | --- | --- | --- | --- | --- |
| KRW | 1 810 000 000.00 | USD | 1 374 220.83 | 16.3.2023 | -1 337.72 | 0.00 |
| IDR | 37 500 000 000.00 | USD | 2 396 625.55 | 16.3.2023 | 63 266.03 | 0.01 |
| CNH | 9 530 000.00 | USD | 1 377 948.60 | 16.3.2023 | -5 701.49 | 0.00 |
| PEN | 10 800 000.00 | USD | 2 803 010.64 | 16.3.2023 | 31 486.24 | 0.00 |
| USD | 1 836 109.03 | EUR | 1 730 000.00 | 16.3.2023 | -245.85 | 0.00 |
| CLP | 1 200 000 000.00 | USD | 1 393 728.22 | 16.3.2023 | 45 446.26 | 0.01 |
| ZAR | 24 400 000.00 | USD | 1 392 236.66 | 16.3.2023 | -64 770.75 | -0.01 |
| MXN | 27 800 000.00 | USD | 1 393 164.01 | 16.3.2023 | 119 508.72 | 0.02 |
| COP | 6 760 000 000.00 | USD | 1 386 666.67 | 16.3.2023 | 5 097.41 | 0.00 |
| USD | 1 376 058.03 | CNH | 9 530 000.00 | 16.3.2023 | 3 810.92 | 0.00 |
| USD | 1 393 639.86 | ZAR | 24 400 000.00 | 16.3.2023 | 66 173.95 | 0.01 |
| USD | 1 382 904.73 | MXN | 27 800 000.00 | 16.3.2023 | -129 768.00 | -0.02 |
| USD | 1 385 936.03 | COP | 6 760 000 000.00 | 16.3.2023 | -5 828.05 | 0.00 |
| USD | 1 354 631.15 | CLP | 1 200 000 000.00 | 16.3.2023 | -84 543.33 | -0.01 |
| USD | 1 379 783.50 | KRW | 1 810 000 000.00 | 16.3.2023 | 6 900.39 | 0.00 |
| USD | 2 395 400.83 | IDR | 37 500 000 000.00 | 16.3.2023 | -64 490.75 | -0.01 |
| MXN | 26 100 000.00 | USD | 1 367 021.13 | 16.3.2023 | 53 150.03 | 0.01 |
| ZAR | 23 000 000.00 | USD | 1 363 640.95 | 16.3.2023 | -112 341.12 | -0.02 |
| CNH | 9 200 000.00 | USD | 1 368 963.32 | 16.3.2023 | -44 233.69 | -0.01 |
| IDR | 20 800 000 000.00 | USD | 1 370 013.69 | 16.3.2023 | -5 593.83 | 0.00 |
| BRL | 7 140 000.00 | USD | 1 372 971.31 | 16.3.2023 | -9 525.90 | 0.00 |
| COP | 6 490 000 000.00 | USD | 1 365 453.40 | 16.3.2023 | -29 277.53 | 0.00 |
| JPY | 362 700 000.00 | USD | 2 817 121.29 | 16.3.2023 | -148 781.17 | -0.02 |
| USD | 7 375 724.74 | BRL | 38 800 000.00 | 16.3.2023 | -33 474.39 | -0.01 |
| USD | 1 336 983.49 | ZAR | 23 000 000.00 | 16.3.2023 | 85 683.66 | 0.01 |
| ZAR | 56 800 000.00 | USD | 3 334 823.71 | 16.3.2023 | -244 657.16 | -0.04 |
| USD | 3 199 821.62 | ZAR | 56 800 000.00 | 16.3.2023 | 109 655.07 | 0.02 |
| USD | 7 502 863.69 | BRL | 39 300 000.00 | 16.3.2023 | -1 814.81 | 0.00 |
| USD | 1 341 227.77 | COP | 6 490 000 000.00 | 16.3.2023 | 5 051.90 | 0.00 |
| BRL | 17 700 000.00 | USD | 3 358 614.66 | 16.3.2023 | 21 355.05 | 0.00 |
| MXN | 36 000 000.00 | USD | 1 915 958.91 | 16.3.2023 | 42 897.86 | 0.01 |
| EUR | 81 834 800.00 | USD | 87 905 158.16 | 17.3.2023 | -1 033 241.93 | -0.16 |
| CHF | 33 265 800.00 | USD | 36 129 339.16 | 17.3.2023 | -571 968.22 | -0.09 |
| USD | 2 717 713.22 | JPY | 362 700 000.00 | 16.3.2023 | 49 373.10 | 0.01 |
| USD | 1 363 576.77 | IDR | 20 800 000 000.00 | 16.3.2023 | -843.09 | 0.00 |
| USD | 1 342 732.46 | CNH | 9 200 000.00 | 16.3.2023 | 18 002.83 | 0.00 |
| USD | 378 511.10 | CHF | 349 300.00 | 17.3.2023 | 5 148.98 | 0.00 |
| USD | 1 206 072.60 | EUR | 1 128 000.00 | 17.3.2023 | 8 641.66 | 0.00 |
| USD | 1 061 227.28 | EUR | 999 400.00 | 17.3.2023 | 311.96 | 0.00 |
| USD | 581 319.08 | CHF | 541 100.00 | 17.3.2023 | 2 944.49 | 0.00 |
| USD | 3 222 029.48 | CNH | 22 400 000.00 | 16.3.2023 | -3 399.19 | 0.00 |
| USD | 2 589 427.28 | MXN | 47 900 000.00 | 16.3.2023 | -16 940.48 | 0.00 |
| USD | 3 639 956.32 | BRL | 18 900 000.00 | 16.3.2023 | 30 836.12 | 0.00 |
| Total Forward Foreign Exchange contracts | -1 917 430.66 | -0.30 |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 18 778 993.97* | 2.92 |
| Bank overdraft and other short-term liabilities | -21.84 | 0.00 |
| Other assets and liabilities | 23 053 038.20 | 3.59 |
| Total net assets | 642 500 663.95 | 100.00 |
| * As at 28 February 2023, cash amounts serve as collateral for the counterparty Citibank for an amount of USD 50 000.00. |  |  |

UBS (Lux) Emerging Economies Fund – Global Bonds (USD) Semi-Annual Report as of 28 February 2023

Translation (ENDE, 2023-02-28):
# UBS (Lux) Emerging Economies Fund – Global Bonds (USD)
| Wichtigste Daten |  |
| --- | --- |
|  | ISIN | 28.2.2023 | 31.8.2022 | 31.8.2021 |
| Nettovermögen in USD |  | 642 500 663.95 | 526 290 243.03 | 1 270 338 935.50 |
| Klasse F-acc | LU0426895057 |  |  |  |
| Anteile im Umlauf |  | 52 654.0000 | 66 392.0000 | 73 877.0000 |
| Nettoinventarwert pro Anteil in USD |  | 1 735.82 | 1 696.87 | 2 183.48 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 |  | 1 724.36 | 1 696.87 | 2 183.48 |
| Klasse (CHF hedged) F-dist 2 | LU0944429587 |  |  |  |
| Anteile im Umlauf |  | - | - | 3 310.0000 |
| Nettoinventarwert pro Anteil in CHF |  | - | - | 108.46 |
| Ausgabe- und Rücknahmepreis pro Anteil in CHF 1 |  | - | - | 108.46 |
| Klasse I-A1-acc | LU0426895305 |  |  |  |
| Anteile im Umlauf |  | 46 928.9770 | 41 534.4440 | 89 511.1450 |
| Nettoinventarwert pro Anteil in USD |  | 151.95 | 148.68 | 191.71 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 |  | 150.95 | 148.68 | 191.71 |
| Klasse (EUR hedged) I-A1-acc 3 | LU2586839198 |  |  |  |
| Anteile im Umlauf |  | 58 496.0580 | - | - |
| Nettoinventarwert pro Anteil in EUR |  | 99.66 | - | - |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | 99.00 | - | - |
| Klasse I-B-acc | LU0426896022 |  |  |  |
| Anteile im Umlauf |  | 251 423.3020 | 135 192.7530 | 253 819.2690 |
| Nettoinventarwert pro Anteil in USD |  | 166.14 | 162.10 | 207.77 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 |  | 165.04 | 162.10 | 207.77 |
| Klasse (EUR hedged) I-B-acc 4 | LU2199275095 |  |  |  |
| Anteile im Umlauf |  | - | 3 866.3400 | 185 222.9410 |
| Nettoinventarwert pro Anteil in EUR |  | - | 82.59 | 107.59 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | - | 82.59 | 107.59 |
| Klasse I-X-acc | LU0426896378 |  |  |  |
| Anteile im Umlauf |  | 159 193.8820 | 154 265.0620 | 150 291.2790 |
| Nettoinventarwert pro Anteil in USD |  | 167.72 | 163.55 | 209.40 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 |  | 166.61 | 163.55 | 209.40 |
| Klasse (CHF hedged) I-X-acc | LU0654573939 |  |  |  |
| Anteile im Umlauf |  | 313 988.6150 | 272 851.1780 | 268 639.1830 |
| Nettoinventarwert pro Anteil in CHF |  | 85.04 | 84.68 | 110.26 |
| Ausgabe- und Rücknahmepreis pro Anteil in CHF 1 |  | 84.48 | 84.68 | 110.26 |
| Klasse (EUR hedged) I-X-acc | LU0674194641 |  |  |  |
| Anteile im Umlauf |  | 749 090.7920 | 686 434.6490 | 694 768.7630 |
| Nettoinventarwert pro Anteil in EUR |  | 100.33 | 99.46 | 129.45 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | 99.67 | 99.46 | 129.45 |
| Klasse I-X-dist | LU0426896295 |  |  |  |
| Anteile im Umlauf |  | 372 825.0000 | 236 488.0000 | 288 055.0000 |
| Nettoinventarwert pro Anteil in USD |  | 56.26 | 58.90 | 79.12 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 |  | 55.89 | 58.90 | 79.12 |
| Klasse K-X-acc | LU1572324363 |  |  |  |
| Anteile im Umlauf |  | 29 941.2400 | 29 941.2400 | 29 941.2400 |
| Nettoinventarwert pro Anteil in USD |  | 102.37 | 99.84 | 127.88 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 |  | 101.69 | 99.84 | 127.88 |
| Klasse P-acc | LU0084219863 |  |  |  |
| Anteile im Umlauf |  | 36 383.9550 | 37 870.5750 | 40 197.9640 |
| Nettoinventarwert pro Anteil in USD |  | 1 548.84 | 1 522.13 | 1 979.67 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 |  | 1 538.62 | 1 522.13 | 1 979.67 |
| Klasse (CHF hedged) P-acc | LU0776291576 |  |  |  |
| Anteile im Umlauf |  | 2 990.7130 | 3 391.3170 | 3 274.7070 |
| Nettoinventarwert pro Anteil in CHF |  | 76.26 | 76.55 | 101.30 |
| Ausgabe- und Rücknahmepreis pro Anteil in CHF 1 |  | 75.76 | 76.55 | 101.30 |
| Klasse (EUR hedged) P-acc | LU0776291659 |  |  |  |
| Anteile im Umlauf |  | 6 572.5300 | 6 572.5300 | 7 420.5300 |
| Nettoinventarwert pro Anteil in EUR |  | 79.53 | 79.48 | 105.13 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | 79.01 | 79.48 | 105.13 |
| Klasse (CHF hedged) P-dist | LU0505553213 |  |  |  |
| Anteile im Umlauf |  | 62 187.1330 | 65 685.6570 | 73 295.5000 |
| Nettoinventarwert pro Anteil in CHF |  | 47.84 | 51.76 | 70.67 |
| Ausgabe- und Rücknahmepreis pro Anteil in CHF 1 |  | 47.52 | 51.76 | 70.67 |
| Klasse P-mdist | LU0281209311 |  |  |  |
| Anteile im Umlauf |  | 803 162.2760 | 1 122 305.4870 | 1 227 613.8400 |
| Nettoinventarwert pro Anteil in USD |  | 42.90 | 43.24 | 59.37 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 |  | 42.62 | 43.24 | 59.37 |

UBS (Lux) Emerging Economies Fund – Global Bonds (USD)
Halbjahresbericht per 28. Februar 2023
|  | ISIN | 28.2.2023 | 31.8.2022 | 31.8.2021 |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Klasse Q-acc | LU0358455698 |  |  |  |
| Anteile im Umlauf |  | 44 562.1610 | 42 336.8930 | 51 825.5140 |
| Nettoinventarwert pro Anteil in USD |  | 97.43 | 95.40 | 123.18 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 |  | 96.79 | 95.40 | 123.18 |
| Klasse (EUR hedged) Q-acc 5 | LU0848087846 |  |  |  |
| Anteile im Umlauf |  | 1 135.4000 | 67 970.3790 | - |
| Nettoinventarwert pro Anteil in EUR |  | 81.39 | 81.01 | - |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | 80.85 | 81.01 | - |
| Klasse Q-dist | LU0426895131 |  |  |  |
| Anteile im Umlauf |  | 13 026.6700 | 11 922.5530 | 11 045.3640 |
| Nettoinventarwert pro Anteil in USD |  | 64.05 | 66.41 | 89.14 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 |  | 63.63 | 66.41 | 89.14 |
| Klasse (CHF hedged) Q-dist | LU1240777703 |  |  |  |
| Anteile im Umlauf |  | 53 060.2740 | 54 182.6870 | 71 389.9490 |
| Nettoinventarwert pro Anteil in CHF |  | 63.73 | 67.73 | 92.50 |
| Ausgabe- und Rücknahmepreis pro Anteil in CHF 1 |  | 63.31 | 67.73 | 92.50 |
| Klasse U-X-acc | LU0426896535 |  |  |  |
| Anteile im Umlauf |  | 16 719.0000 | 8 525.0000 | 41 328.0000 |
| Nettoinventarwert pro Anteil in USD |  | 11 975.99 | 11 678.28 | 14 952.14 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 |  | 11 896.95 | 11 678.28 | 14 952.14 |
| Klasse U-X-UKdist-mdist | LU1896727648 |  |  |  |
| Anteile im Umlauf | 4 375.8940 | 3 442.8840 | 2 561.1840 |
| Nettoinventarwert pro Anteil in USD | 7 587.89 | 7 728.95 | 10 429.33 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 | 7 537.81 | 7 728.95 | 10 429.33 |
| 1  Siehe Erläuterung 1 2  Die Anteilsklasse (CHF hedged) F-dist war bis zum 25.10.2021 im Umlauf 3  Erste NAV 21.2.2023 4  Die Anteilsklasse (EUR hedged) I-B-acc war bis zum 14.11.2022 im Umlauf 5  Erste NAV 28.1.2022 |  |  |  |

UBS (Lux) Emerging Economies Fund – Global Bonds (USD) Halbjahresbericht per 28. Februar 2023

### Struktur des Wertpapierbestandes
Geographische Aufteilung in % des Nettovermögens	
Mexiko	6.19
Brasilien	4.66
Indonesien	4.37
Vereinigte Staaten	4.02
Türkei	3.82
Malaysia	3.47
Vereinigte Arabische Emirate	3.20
Philippinen	3.18
Cayman-Inseln	3.17
Chile	3.12
Dominikanische Republik	2.82
Katar	2.69
Kolumbien	2.51
Ägypten	2.48
Bahrain	2.34
Peru	2.32
Panama	2.31
Saudiarabia	2.26
Ungarn	2.16
Oman	2.12
Rumänien	2.04
Südafrika	2.00
Nigeria	1.61
Uruguay	1.40
Argentinien	1.36
Ecuador	1.24
Angola	1.15
Ghana	1.12
Polen	1.10
Costa Rica	0.99
Ukraine	0.94
Guatemala	0.94
China	0.94
Kasachstan	0.87
Uzbekistan	0.79
Russische Föderation (GUS)	0.77
Jamaika	0.70
Luxemburg	0.70
Jordanien	0.65
Paraguay	0.65
Trinidad und Tobago	0.63
Kenia	0.61
Mongolei	0.61
El Salvador	0.61
Venezuela	0.57
Mauritius	0.54
Grossbritannien	0.52
Gabun	0.45
Hongkong	0.43
Britische Jungferninseln	0.41
Irak	0.41
Libanon	0.41
Elfenbeinküste	0.36
Pakistan	0.34
Sambia	0.34
Marokko	0.27
Senegal	0.23
Georgien	0.20
Indien	0.20
Honduras	0.18
Mosambik	0.17
Vietnam	0.12
Suriname	0.06
Wirtschaftliche Aufteilung in % des Nettovermögens	
Länder- & Zentralregierungen	65.92
Erdöl	8.60
Finanz- & Beteiligungsgesellschaften	7.18
Pfandbriefinstitute & Refinanzierungsgesellschaften	2.46
Verkehr & Transport	2.20
Energie- & Wasserversorgung	1.66
Banken & Kreditinstitute	1.61
Bergbau, Kohle & Stahl	0.84
Chemie	0.70
Anlagefonds	0.45
Kantone, Bundesstaaten	0.37
Flugzeug- & Raumfahrtindustrie	0.37
Elektrische Geräte & Komponenten	0.34
Diverse nicht klassierte Gesellschaften	0.32
Immobilien	0.24
Maschinen & Apparate	0.22
Telekommunikation	0.20
Diverse Dienstleistungen	0.16
Total	93.84
Total	93.84
UBS (Lux) Emerging Economies Fund – Global Bonds (USD)
Halbjahresbericht per 28. Februar 2023

### Nettovermögensaufstellung
Aktiva	28.2.2023
USD
Wertpapierbestand, Einstandswert	761 174 255.85
Wertpapierbestand, nicht realisierte Werterhöhung (-minderung)	158 251 530.90
Total Wertpapierbestand (Erläuterung 1)	602 922 724.95
Bankguthaben, Sicht- und Fristgelder	16 914 482.04*
Andere liquide Mittel (Margins)	1 864 511.93
Forderungen aus Wertpapierverkäufen (Erläuterung 1)	14 218 264.12
Forderungen aus Zeichnungen	6 337 723.01
Zinsforderungen aus Wertpapieren	9 343 758.02
Zinsforderungen aus liquiden Mitteln	12 718.51
Total Aktiva	651 646 221.80
Passiva
Vorausbezahlte Kosten	32 039.22
Nicht realisierter Kursverlust aus Finanzterminkontrakten (Erläuterung 1)	-336 640.67
Nicht realisierter Kursverlust aus Devisenterminkontrakten (Erläuterung 1)	-1 917 430.66
Kontokorrentkredit	-21.84
Zinsverbindlichkeiten aus Kontokorrentkredit	-1.86
Verbindlichkeiten aus Rücknahmen	-6 624 783.40
Rückstellungen für pauschale Verwaltungskommission (Erläuterung 2)	-166 073.15
Rückstellungen für Abonnementsabgabe (Erläuterung 3)	-17 244.34
Rückstellungen für sonstige Kommissionen und Gebühren (Erläuterung 2)		-83 361.93		 Total Rückstellungen für Aufwendungen			-266 679.42
Total Passiva	-9 145 557.85
Nettovermögen am Ende der Berichtsperiode	642 500 663.95

### Ertrags- und Aufwandsrechnung
Erträge	1.9.2022-28.2.2023
USD
Zinsertrag auf liquide Mittel	244 218.77
Zinsen auf Wertpapiere	14 982 540.49
Nettoerträge aus Securities Lending (Erläuterung 10)	288 428.66
Total Erträge	16 479 638.05
Aufwendungen
Sonstige Erträge (Erläuterung 4)	964 450.13
Pauschale Verwaltungskommission (Erläuterung 2)	-1 113 343.68
Abonnementsabgabe (Erläuterung 3)	-48 552.95
Sonstige Kommissionen und Gebühren (Erläuterung 2)	-81 419.15
Nettoerträge (-verluste) aus Anlagen	15 222 927.14
Total Aufwendungen	-1 256 710.91
Zinsaufwand auf liquide Mittel und Kontokorrentkredit	-13 395.13
Realisierte Gewinne (Verluste) (Erläuterung 1)
Realisierter Kursgewinn (-verlust) aus marktbewerteten Wertpapieren ausser Optionen	-16 040 464.66 Realisierter Kursgewinn (-verlust) aus renditebewerteten Wertpapieren und Geldmarktinstrumenten		244 073.44
Realisierter Kursgewinn (-verlust) aus Finanzterminkontrakten	873 046.10
Realisierter Kursgewinn (-verlust) aus Devisenterminkontrakten	2 060 256.35
Total der realisierten Gewinne (Verluste)	-11 566 134.38
Realisierter Nettogewinn (-verlust) der Berichtsperiode	3 656 792.76
Veränderungen der nicht realisierten Werterhöhung (-minderung) (Erläuterung 1)
Realisierter Währungsgewinn (-verlust)	1 296 954.39
Nicht realisierte Werterhöhung (-minderung) marktbewerteter Wertpapiere ausser Optionen	9 588 963.49
Nicht realisierte Werterhöhung (-minderung) renditebewerteter Wertpapiere und Geldmarktinstrumente	-46 982.97
Nicht realisierte Werterhöhung (-minderung) von Finanzterminkontrakten	-352 695.45
Total der Veränderungen der nicht realisierten Werterhöhung (-minderung)	9 044 755.21
Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit	12 701 547.97
Nicht realisierte Werterhöhung (-minderung) von Devisenterminkontrakten	-144 529.86
* Zum 28. Februar 2023 wurden gegenüber Citibank Bankguthaben in Höhe von USD 50 000.00 als Sicherheit eingesetzt.
UBS (Lux) Emerging Economies Fund – Global Bonds (USD) Halbjahresbericht per 28. Februar 2023
| Veränderung des Nettovermögens |  |
| --- | --- |
|  | USD |
|  | 1.9.2022-28.2.2023 |
| Nettovermögen zu Beginn der Berichtsperiode | 526 290 243.03 |
| Zeichnungen | 178 934 938.63 |
| Rücknahmen | 	-71 821 007.61	 |
| Total Mittelzufluss (-abfluss) | 107 113 931.02 |
| Ausbezahlte Dividende | -3 605 058.07 |
| Nettoerträge (-verluste) aus Anlagen | 15 222 927.14 |
| Total der realisierten Gewinne (Verluste) | -11 566 134.38 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | 	9 044 755.21	 |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | 12 701 547.97 |
| Nettovermögen am Ende der Berichtsperiode | 642 500 663.95 |
| Entwicklung der Anteile im Umlauf |  |
|  | 1.9.2022-28.2.2023 |
| Klasse | F-acc |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode | 66 392.0000 |
| Anzahl der ausgegebenen Anteile | 1 864.0000 |
| Anzahl der zurückgegebenen Anteile | -15 602.0000 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode | 52 654.0000 |
| Klasse | I-A1-acc |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode | 41 534.4440 |
| Anzahl der ausgegebenen Anteile | 8 800.3940 |
| Anzahl der zurückgegebenen Anteile | -3 405.8610 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode | 46 928.9770 |
| Klasse | (EUR hedged) I-A1-acc |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode | 0.0000 |
| Anzahl der ausgegebenen Anteile | 58 496.0580 |
| Anzahl der zurückgegebenen Anteile | 0.0000 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode | 58 496.0580 |
| Klasse | I-B-acc |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode | 135 192.7530 |
| Anzahl der ausgegebenen Anteile | 126 948.5490 |
| Anzahl der zurückgegebenen Anteile | -10 718.0000 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode | 251 423.3020 |
| Klasse | (EUR hedged) I-B-acc |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode | 3 866.3400 |
| Anzahl der ausgegebenen Anteile | 0.0000 |
| Anzahl der zurückgegebenen Anteile | -3 866.3400 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode | 0.0000 |
| Klasse | I-X-acc |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode | 154 265.0620 |
| Anzahl der ausgegebenen Anteile | 5 624.9400 |
| Anzahl der zurückgegebenen Anteile | -696.1200 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode | 159 193.8820 |
| Klasse | (CHF hedged) I-X-acc |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode | 272 851.1780 |
| Anzahl der ausgegebenen Anteile | 50 025.1750 |
| Anzahl der zurückgegebenen Anteile | -8 887.7380 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode | 313 988.6150 |
| Klasse | (EUR hedged) I-X-acc |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode | 686 434.6490 |
| Anzahl der ausgegebenen Anteile | 68 816.1260 |
| Anzahl der zurückgegebenen Anteile | -6 159.9830 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode | 749 090.7920 |
| Klasse | I-X-dist |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode | 236 488.0000 |
| Anzahl der ausgegebenen Anteile | 141 943.0000 |
| Anzahl der zurückgegebenen Anteile | -5 606.0000 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode | 372 825.0000 |
| Klasse | K-X-acc |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode | 29 941.2400 |
| Anzahl der ausgegebenen Anteile | 0.0000 |
| Anzahl der zurückgegebenen Anteile | 0.0000 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode | 29 941.2400 |
| Klasse | P-acc |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode | 37 870.5750 |
| Anzahl der ausgegebenen Anteile | 2 303.1120 |
| Anzahl der zurückgegebenen Anteile | -3 789.7320 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode | 36 383.9550 |
| Klasse | (CHF hedged) P-acc |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode | 3 391.3170 |
| Anzahl der ausgegebenen Anteile | 0.0000 |
| Anzahl der zurückgegebenen Anteile | -400.6040 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode | 2 990.7130 |

UBS (Lux) Emerging Economies Fund – Global Bonds (USD)
Halbjahresbericht per 28. Februar 2023
| Klasse |  |  | (EUR hedged) P-acc |
| --- | --- | --- | --- |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode |  |  | 6 572.5300 |
| Anzahl der ausgegebenen Anteile |  |  | 0.0000 |
| Anzahl der zurückgegebenen Anteile |  |  | 0.0000 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode |  |  | 6 572.5300 |
| Klasse |  |  | (CHF hedged) P-dist |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode |  |  | 65 685.6570 |
| Anzahl der ausgegebenen Anteile |  |  | 4.5720 |
| Anzahl der zurückgegebenen Anteile |  |  | -3 503.0960 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode |  |  | 62 187.1330 |
| Klasse |  |  | P-mdist |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode |  |  | 1 122 305.4870 |
| Anzahl der ausgegebenen Anteile |  |  | 17 164.7630 |
| Anzahl der zurückgegebenen Anteile |  |  | -336 307.9740 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode |  |  | 803 162.2760 |
| Klasse |  |  | Q-acc |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode |  |  | 42 336.8930 |
| Anzahl der ausgegebenen Anteile |  |  | 8 885.6730 |
| Anzahl der zurückgegebenen Anteile |  |  | -6 660.4050 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode |  |  | 44 562.1610 |
| Klasse |  |  | (EUR hedged) Q-acc |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode |  |  | 67 970.3790 |
| Anzahl der ausgegebenen Anteile |  |  | 79 580.2210 |
| Anzahl der zurückgegebenen Anteile |  |  | -146 415.2000 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode |  |  | 1 135.4000 |
| Klasse |  |  | Q-dist |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode |  |  | 11 922.5530 |
| Anzahl der ausgegebenen Anteile |  |  | 1 104.1170 |
| Anzahl der zurückgegebenen Anteile |  |  | 0.0000 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode |  |  | 13 026.6700 |
| Klasse |  |  | (CHF hedged) Q-dist |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode |  |  | 54 182.6870 |
| Anzahl der ausgegebenen Anteile |  |  | 1 156.2830 |
| Anzahl der zurückgegebenen Anteile |  |  | -2 278.6960 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode |  |  | 53 060.2740 |
| Klasse |  |  | U-X-acc |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode |  |  | 8 525.0000 |
| Anzahl der ausgegebenen Anteile |  |  | 8 748.0000 |
| Anzahl der zurückgegebenen Anteile |  |  | -554.0000 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode |  |  | 16 719.0000 |
| Klasse |  |  | U-X-UKdist-mdist |
| Anzahl der Anteile im Umlauf zu Beginn der Berichtsperiode |  |  | 3 442.8840 |
| Anzahl der ausgegebenen Anteile |  |  | 1 090.0100 |
| Anzahl der zurückgegebenen Anteile |  |  | -157.0000 |
| Anzahl der Anteile im Umlauf am Ende der Berichtsperiode |  |  | 4 375.8940 |
| Jährliche Ausschüttung 1 |  |  |  |
| UBS (Lux) Emerging Economies Fund – Global Bonds (USD)	Ex-Date | Pay-Date | Währung | Betrag pro Anteil |
| I-X-dist	2.11.2022 | 7.11.2022 | USD | 3.79 |
| (CHF hedged) P-dist	2.11.2022 | 7.11.2022 | CHF | 3.47 |
| Q-dist	2.11.2022 | 7.11.2022 | USD | 3.46 |
| (CHF hedged) Q-dist	2.11.2022 | 7.11.2022 | CHF | 3.71 |
| Monatliche Ausschüttung 1 |  |  |  |
| UBS (Lux) Emerging Economies Fund – Global Bonds (USD)	Ex-Date | Pay-Date | Währung | Betrag pro Anteil |
| P-mdist	15.9.2022 | 20.9.2022 | USD | 0.19 |
| P-mdist	17.10.2022 | 20.10.2022 | USD | 0.18 |
| P-mdist	15.11.2022 | 18.11.2022 | USD | 0.17 |
| P-mdist	15.12.2022 | 20.12.2022 | USD | 0.18 |
| P-mdist	17.1.2023 | 20.1.2023 | USD | 0.18 |
| P-mdist	15.2.2023 | 21.2.2023 | USD | 0.18 |
| U-X-UKdist-mdist	15.9.2022 | 20.9.2022 | USD | 56.86 |
| U-X-UKdist-mdist	17.10.2022 | 20.10.2022 | USD | 49.82 |
| U-X-UKdist-mdist	15.11.2022 | 18.11.2022 | USD | 54.10 |
| U-X-UKdist-mdist	15.12.2022 | 20.12.2022 | USD | 63.42 |
| U-X-UKdist-mdist	17.1.2023 | 20.1.2023 | USD | 55.92 |
| U-X-UKdist-mdist	15.2.2023 | 21.2.2023 | USD | 50.33 |
| 1  Siehe Erläuterung 5 |  |  |  |

UBS (Lux) Emerging Economies Fund – Global Bonds (USD) Halbjahresbericht per 28. Februar 2023

### Aufstellung der Wertpapierbestände und anderer Nettovermögenswerte per 28. Februar 2023
| Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
| Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden |  |  |  |
| Notes, fester Zins |  |  |  |
| BRL |  |  |  |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF 10.00000% 22-01.01.33 | 105 400.00 | 16 607 178.61 | 2.58 |
| Total BRL |  | 16 607 178.61 | 2.58 |
| EUR |  |  |  |
| EUR	UKRAINE, GOVERNMENT OF-REG-S 4.37500% 20-27.01.32 | 7 600 000.00 | 1 329 867.00 | 0.21 |
| EUR	UKRAINE, GOVERNMENT OF-REG-S 6.75000% 19-20.06.28 | 800 000.00 | 138 554.33 | 0.02 |
| Total EUR |  | 1 468 421.33 | 0.23 |
| USD |  |  |  |
| USD	AEROPUERTO INTERNACIONAL DE TOCU-REG-S 5.12500% 21-11.08.61 | 3 000 000.00 | 2 352 750.00 | 0.37 |
| USD	ARGENTINA, REPUBLIC OF STEP-UP 20-09.07.30 | 6 450 000.00 | 2 089 800.00 | 0.33 |
| USD	ARGENTINA, REPUBLIC OF STEP-UP 20-09.07.35 | 2 600 000.00 | 739 700.00 | 0.12 |
| USD	ARGENTINA, REPUBLIC OF STEP-UP 20-09.01.38 | 4 400 000.00 | 1 533 950.00 | 0.24 |
| USD	ARGENTINE REPUBLIC GOVT INTERNATIONAL STEP-UP 20-09.07.46 | 10 750 000.00 | 3 099 359.37 | 0.48 |
| USD	BRAZIL LOAN TRUST 1-REG-S 5.47700% 13-24.07.23 | 2 870 000.00 | 235 182.19 | 0.04 |
| USD	BRAZIL, FEDERATIVE REPUBLIC OF 4.75000% 19-14.01.50 | 7 400 000.00 | 5 306 262.50 | 0.83 |
| USD	BRAZIL, REPUBLIC OF 3.75000% 21-12.09.31 | 9 550 000.00 | 8 026 775.00 | 1.25 |
| USD	CHILE, REPUBLIC OF 3.25000% 21-21.09.71 | 1 000 000.00 | 613 000.00 | 0.10 |
| USD	CHILE, REPUBLIC OF 3.50000% 21-15.04.53 | 4 650 000.00 | 3 306 731.25 | 0.51 |
| USD	CHINA EVERGRANDE GRO-REG-S *DEFAULTED* 12.00000% 20-22.01.24 | 950 000.00 | 80 750.00 | 0.01 |
| USD	CNAC HK FINBRIDGE CO LTD-REG-S 3.87500% 19-19.06.29 | 2 200 000.00 | 1 963 412.00 | 0.31 |
| USD	CNAC HK FINBRIDGE CO LTD-REG-S 3.00000% 20-22.09.30 | 1 000 000.00 | 825 570.00 | 0.13 |
| USD	COLOMBIA, REPUBLIC OF 5.20000% 19-15.05.49 | 1 400 000.00 | 925 575.00 | 0.14 |
| USD	COLOMBIA, REPUBLIC OF 7.50000% 23-02.02.34 | 4 000 000.00 | 3 784 000.00 | 0.59 |
| USD	CORP NACIONAL DEL COBRE DE-REG-S 5.12500% 23-02.02.33 | 2 100 000.00 | 2 034 112.50 | 0.32 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 7.15800% 15-12.03.45 | 1 800 000.00 | 1 741 275.00 | 0.27 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 6.12500% 19-19.02.31 | 2 500 000.00 | 2 417 656.25 | 0.38 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 7.25000% 19-08.04.26 | 1 975 000.00 | 1 347 937.50 | 0.21 |
| USD	DAE FUNDING LLC-REG-S 3.37500% 21-20.03.28 | 4 200 000.00 | 3 738 000.00 | 0.58 |
| USD	DOMINICAN REPUBLIC-REG-S 6.85000% 15-27.01.45 | 7 300 000.00 | 6 486 962.50 | 1.01 |
| USD	DOMINICAN REPUBLIC-REG-S 5.87500% 20-30.01.60 | 1 400 000.00 | 1 045 012.50 | 0.16 |
| USD	DOMINICAN REPUBLIC-REG-S 5.30000% 21-21.01.41 | 1 140 000.00 | 889 057.50 | 0.14 |
| USD	DOMINICAN REPUBLIC-REG-S 7.05000% 23-03.02.31 | 1 500 000.00 | 1 498 593.75 | 0.23 |
| USD	DUBAI, GOVERNMENT OF-REG-S 5.25000% 13-30.01.43 | 1 500 000.00 | 1 364 343.75 | 0.21 |
| USD	ECUADOR GOVT INTERNATIONAL BD-REG-S STEP-UP/DOWN 20-31.07.35 | 5 495 000.00 | 1 919 128.75 | 0.30 |
| USD	ECUADOR, REPUBLIC OF-REG-S STEP-UP 0.50000% 20-31.07.30 | 9 580 000.00 | 4 624 146.25 | 0.72 |
| USD	ECUADOR, REPUBLIC OF-REG-S STEP-UP 20-31.07.40 | 4 520 000.00 | 1 402 047.51 | 0.22 |
| USD	EGYPT, REPUBLIC OF-REG-S 7.62500% 20-29.05.32 | 2 600 000.00 | 1 835 925.00 | 0.29 |
| USD	EL SALVADOR, REPUBLIC OF-REG-S 8.62500% 17-28.02.29 | 3 150 000.00 | 1 568 700.00 | 0.24 |
| USD	EL SALVADOR, REPUBLIC OF-REG-S 8.25000% 02-10.04.32 | 2 500 000.00 | 1 243 437.50 | 0.19 |
| USD	EMPRESA DE L FERROCARRILE DEL EST-REG-S 3.06800% 20-18.08.50 | 1 500 000.00 | 908 718.75 | 0.14 |
| USD	EMPRESA DE TRANSPORTE DE PASA MET-REG-S 3.65000% 20-07.05.30 | 1 060 000.00 | 948 700.00 | 0.15 |
| USD	EMPRESA DE TRANSPORTE DE PASA MET-REG-S 4.70000% 20-07.05.50 | 1 330 000.00 | 1 131 165.00 | 0.18 |
| USD	EMPRESA NACIONAL DEL PETROLEO-REG-S 4.50000% 17-14.09.47 | 1 000 000.00 | 760 500.00 | 0.12 |
| USD	EMPRESA NACIONAL DEL PETROLEO-REG-S 5.25000% 18-06.11.29 | 1 600 000.00 | 1 514 300.00 | 0.24 |
| USD	EMPRESA NACIONAL DEL PETROLEO-REG-S 3.45000% 21-16.09.31 | 8 650 000.00 | 7 108 137.50 | 1.11 |
| USD	ESKOM HOLDINGS SOC LTD-REG-S 7.12500% 15-11.02.25 | 850 000.00 | 834 785.00 | 0.13 |
| USD	EXPORT-IMPORT BANK OF INDIA-REG-S 3.87500% 18-01.02.28 | 1 000 000.00 | 922 062.50 | 0.14 |
| USD	GABON, REPUBLIC OF-REG-S 6.62500% 20-06.02.31 | 1 300 000.00 | 1 052 431.25 | 0.16 |
| USD	GACI FIRST INVESTMENT CO-REG-S 5.00000% 22-13.10.27 | 2 450 000.00 | 2 419 375.00 | 0.38 |
| USD	GACI FIRST INVESTMENT CO-REG-S 4.75000% 23-14.02.30 | 3 000 000.00 | 2 927 970.00 | 0.46 |
| USD	GACI FIRST INVESTMENT CO-REG-S 4.87500% 23-14.02.35 | 3 850 000.00 | 3 652 879.99 | 0.57 |
| USD	GACI FIRST INVESTMENT CO-REG-S 5.12500% 23-14.02.53 | 2 450 000.00 | 2 202 550.00 | 0.34 |
| USD	GHANA GOVT INTNL BOND-REG-S 7.62500% 18-16.05.29 | 2 400 000.00 | 900 000.00 | 0.14 |
| USD	GHANA GOVT INTNL BOND-REG-S 8.62500% 21-07.04.34 | 4 750 000.00 | 1 781 250.00 | 0.28 |
| USD	GUATEMALA GOVERNMENT BOND-REG-S 4.65000% 21-07.10.41 | 850 000.00 | 685 471.88 | 0.11 |
| USD	GUATEMALA, REPUBLIC OF-REG-S 5.25000% 22-10.08.29 | 2 400 000.00 | 2 299 200.00 | 0.36 |
| USD	HERITAGE PETROLEUM CO LTD-REG-S 9.00000% 22-12.08.29 | 2 500 000.00 | 2 618 750.00 | 0.41 |
| USD	HONDURAS, REPUBLIC OF-REG-S 5.62500% 20-24.06.30 | 1 480 000.00 | 1 178 265.00 | 0.18 |
| USD	HTA GROUP LTD/MAURITIUS-REG-S 7.00000% 20-18.12.25 | 1 500 000.00 | 1 417 781.25 | 0.22 |
| USD	HUNGARY, REPUBLIC OF-REG-S 5.50000% 22-16.06.34 | 1 200 000.00 | 1 147 500.00 | 0.18 |
| USD	HUNGARY, REPUBLIC OF-REG-S 2.12500% 21-22.09.31 | 2 140 000.00 | 1 631 750.00 | 0.25 |
| USD	HUNGARY, REPUBLIC OF-REG-S 3.12500% 21-21.09.51 | 1 800 000.00 | 1 093 500.00 | 0.17 |
| USD	HUNGARY, REPUBLIC OF-REG-S 6.12500% 23-22.05.28 | 3 500 000.00 | 3 545 500.00 | 0.55 |
| USD	HUNGARY, REPUBLIC OF-REG-S 6.25000% 22-22.09.32 | 3 950 000.00 | 3 994 437.50 | 0.62 |
| USD	HUNGARY, REPUBLIC OF-REG-S 6.75000% 22-25.09.52 | 2 400 000.00 | 2 460 000.00 | 0.38 |
| USD	INDONESIA, REPUBLIC OF 2.85000% 20-14.02.30 | 5 370 000.00 | 4 733 319.37 | 0.74 |
| USD	INDONESIA, REPUBLIC OF 4.45000% 20-15.04.70 | 1 300 000.00 | 1 085 643.00 | 0.17 |
| USD	INDONESIA, REPUBLIC OF 4.85000% 23-11.01.33 | 3 200 000.00 | 3 132 352.00 | 0.49 |
| USD	INDONESIA, REPUBLIC OF 5.65000% 23-11.01.53 | 1 800 000.00 | 1 822 698.00 | 0.28 |
| USD	INDONESIA, REPUBLIC OF-REG-S 7.75000% 08-17.01.38 | 1 485 000.00 | 1 812 442.50 | 0.28 |
| USD	INSTITUTO COSTARRICENSE DE ELECT-REG-S 6.75000% 21-07.10.31 | 2 300 000.00 | 2 190 462.50 | 0.34 |
| USD	IPOTEKA-BANK ATIB-REG-S 5.50000% 20-19.11.25 | 1 110 000.00 | 1 043 261.25 | 0.16 |
| USD	JORDAN, KINGDOM OF-REG-S 5.85000% 20-07.07.30 | 4 650 000.00 | 4 196 625.00 | 0.65 |
| USD	JSC GEORGIAN RAILWAY-REG-S 4.00000% 21-17.06.28 | 1 500 000.00 | 1 312 500.00 | 0.20 |
| USD	KAZMUNAYGAS NATIONAL CO-REG-S 6.37500% 18-24.10.48 | 2 000 000.00 | 1 675 000.00 | 0.26 |
| USD	KAZTRANSGAS JSC-REG-S 4.37500% 17-26.09.27 | 1 000 000.00 | 898 000.00 | 0.14 |
| USD	KENYA, REPUBLIC OF-REG-S 7.25000% 18-28.02.28 | 2 045 000.00 | 1 766 368.75 | 0.28 |
| USD	KENYA, REPUBLIC OF-REG-S 8.00000% 19-22.05.32 | 2 550 000.00 | 2 177 062.50 | 0.34 |
| USD	LIQUID TELECOMMUNICATIONS FIN-REG-S 5.50000% 21-04.09.26 | 1 800 000.00 | 1 251 000.00 | 0.19 |
| USD	MDGH GMTN RSC LTD-REG-S 5.50000% 22-28.04.33 | 2 500 000.00 | 2 589 250.00 | 0.40 |
| USD	MEXICO GOVERNMENT INTERNATIONAL BOND 2.65900% 20-24.05.31 | 500 000.00 | 403 500.00 | 0.06 |
| USD	MEXICO, UNITED STATES OF 4.28000% 21-14.08.41 | 3 000 000.00 | 2 394 937.50 | 0.37 |
| USD	MEXICO, UNITED STATES OF 3.50000% 22-12.02.34 | 6 900 000.00 | 5 602 800.00 | 0.87 |
| USD	MEXICO, UNITED STATES OF 4.87500% 22-19.05.33 | 7 250 000.00 | 6 728 000.00 | 1.05 |

UBS (Lux) Emerging Economies Fund – Global Bonds (USD)
Halbjahresbericht per 28. Februar 2023
|  | Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
|  |  |  |  |  |
| USD | MEXICO, UNITED STATES OF 6.35000% 23-09.02.35 | 2 800 000.00 | 2 875 600.00 | 0.45 |
| USD | MONGOLIA,GOVERNMENT OF-REG-S 8.65000% 23-19.01.28 | 2 000 000.00 | 2 027 720.00 | 0.32 |
| USD | MOZAMBIQUE INT BOND-REG-S STEP-UP 19-15.09.31 | 1 444 000.00 | 1 093 198.25 | 0.17 |
| USD | NATIONAL BANK OF UZBEKISTAN-REG-S 4.85000% 20-21.10.25 | 760 000.00 | 710 600.00 | 0.11 |
| USD | NIGERIA, FEDERAL REPUBLIC OF-REG-S 7.62500% 18-21.11.25 | 3 500 000.00 | 3 150 000.00 | 0.49 |
| USD | OCP SA-REG-S 5.12500% 21-23.06.51 | 1 110 000.00 | 799 200.00 | 0.12 |
| USD | OCP SA-REG-S 6.87500% 14-25.04.44 | 1 000 000.00 | 908 750.00 | 0.14 |
| USD | OIL AND GAS HOLDING CO BSCC/THE-REG-S 7.62500% 18-07.11.24 | 2 360 000.00 | 2 401 300.00 | 0.37 |
| USD | OIL AND GAS HOLDING CO BSCC/THE-REG-S 8.37500% 18-07.11.28 | 2 520 000.00 | 2 658 600.00 | 0.41 |
| USD | OMAN GOVERNMENT INTERNATIONAL-REG-S 7.00000% 21-25.01.51 | 2 300 000.00 | 2 268 375.00 | 0.35 |
| USD | OMAN GOVT INTERNATIONAL BOND-REG-S 6.75000% 18-17.01.48 | 6 700 000.00 | 6 423 625.00 | 1.00 |
| USD | OMAN GOVT INTERNATIONAL BOND-REG-S 6.25000% 21-25.01.31 | 3 000 000.00 | 3 024 000.00 | 0.47 |
| USD | PAKISTAN, ISLAMIC REPUBLIC OF-REG-S 6.87500% 17-05.12.27 | 3 030 000.00 | 1 333 533.30 | 0.21 |
| USD | PANAMA, REPUBLIC OF 3.87000% 19-23.07.60 | 4 480 000.00 | 2 852 640.00 | 0.44 |
| USD | PANAMA, REPUBLIC OF 4.50000% 20-01.04.56 | 3 230 000.00 | 2 353 458.75 | 0.37 |
| USD | PANAMA, REPUBLIC OF 4.50000% 22-19.01.63 | 1 700 000.00 | 1 211 568.75 | 0.19 |
| USD | PANAMA, REPUBLIC OF 6.40000% 22-14.02.35 | 3 850 000.00 | 3 956 596.88 | 0.62 |
| USD | PARAGUAY, REPUBLIC OF-REG-S 6.10000% 14-11.08.44 | 1 150 000.00 | 1 083 012.50 | 0.17 |
| USD | PARAGUAY, REPUBLIC OF-REG-S 5.60000% 18-13.03.48 | 3 600 000.00 | 3 088 800.00 | 0.48 |
| USD | PERTAMINA PT-REG-S 6.50000% 11-27.05.41 | 1 680 000.00 | 1 697 115.00 | 0.26 |
| USD | PERTAMINA PT-REG-S 6.00000% 12-03.05.42 | 1 000 000.00 | 966 400.00 | 0.15 |
| USD | PERU, REPUBLIC OF 3.30000% 21-11.03.41 | 3 600 000.00 | 2 618 550.00 | 0.41 |
| USD | PERU, REPUBLIC OF 3.55000% 21-10.03.51 | 1 150 000.00 | 814 918.75 | 0.13 |
| USD | PERU, REPUBLIC OF 3.00000% 21-15.01.34 | 1 750 000.00 | 1 375 171.86 | 0.21 |
| USD | PERUSAHAAN LISTRIK NEGARA PT-REG-S 4.87500% 19-17.07.49 | 2 500 000.00 | 1 994 218.75 | 0.31 |
| USD | PERUSAHAAN PENERBIT SBSN-REG-S 4.40000% 18-01.03.28 | 1 890 000.00 | 1 852 407.90 | 0.29 |
| USD | PERUVIAN GOVERNMENT INTERNATIONAL BOND 1.86200% 20-01.12.32 | 5 000 000.00 | 3 622 812.50 | 0.56 |
| USD | PERUVIAN GOVERNMENT INTERNATIONAL BOND 2.78000% 20-01.12.60 | 2 600 000.00 | 1 493 862.50 | 0.23 |
| USD | PETROLEOS DE VENEZUE-REG-S *DEFAULTED* 5.50000% 07-12.04.37 | 7 750 000.00 | 348 750.00 | 0.05 |
| USD | PETROLEOS MEXICANOS 6.70000% 22-16.02.32 | 5 700 000.00 | 4 512 120.00 | 0.70 |
| USD | PETROLEOS MEXICANOS 7.69000% 20-23.01.50 | 9 600 000.00 | 6 743 520.00 | 1.05 |
| USD | PETROLEOS MEXICANOS-REG-S 10.00000% 23-07.02.33 | 8 400 000.00 | 8 050 560.00 | 1.25 |
| USD | PETRORIO LUXEMBOURG SARL-REG-S 6.12500% 21-09.06.26 | 1 700 000.00 | 1 605 990.00 | 0.25 |
| USD | PHILIPPINES, REPUBLIC OF THE 2.95000% 20-05.05.45 | 2 210 000.00 | 1 563 818.10 | 0.24 |
| USD | PHILIPPINES, REPUBLIC OF THE 2.45700% 20-05.05.30 | 1 000 000.00 | 840 110.00 | 0.13 |
| USD | PHILIPPINES, REPUBLIC OF THE 3.55600% 22-29.09.32 | 1 700 000.00 | 1 504 687.00 | 0.23 |
| USD | PHILIPPINES, REPUBLIC OF THE 5.00000% 23-17.07.33 | 3 800 000.00 | 3 757 668.00 | 0.59 |
| USD | PHILIPPINES, REPUBLIC OF THE 5.50000% 23-17.01.48 | 1 700 000.00 | 1 721 437.00 | 0.27 |
| USD | QATAR PETROLEUM-REG-S 2.25000% 21-12.07.31 | 5 280 000.00 | 4 325 640.00 | 0.67 |
| USD | QATAR PETROLEUM-REG-S 3.30000% 21-12.07.51 | 3 500 000.00 | 2 540 343.75 | 0.40 |
| USD | QATAR PETROLEUM-REG-S 3.12500% 21-12.07.41 | 4 200 000.00 | 3 174 412.50 | 0.49 |
| USD | QATAR, STATE OF-REG-S 3.75000% 20-16.04.30 | 2 500 000.00 | 2 371 562.51 | 0.37 |
| USD | QATAR, STATE OF-REG-S 4.40000% 20-16.04.50 | 4 450 000.00 | 3 993 875.00 | 0.62 |
| USD | ROMANIA-REG-S 3.00000% 20-14.02.31 | 4 320 000.00 | 3 488 400.00 | 0.54 |
| USD | ROMANIA-REG-S 3.62500% 22-27.03.32 | 5 000 000.00 | 4 112 500.00 | 0.64 |
| USD | ROMANIA-REG-S 7.12500% 23-17.01.33 | 3 000 000.00 | 3 142 500.00 | 0.49 |
| USD | ROMANIA-REG-S 7.62500% 23-17.01.53 | 1 300 000.00 | 1 403 187.50 | 0.22 |
| USD | SENEGAL, REPUBLIC OF-REG-S 6.75000% 18-13.03.48 | 2 150 000.00 | 1 507 687.50 | 0.23 |
| USD | SINOPEC GROUP OVERSEA DEVELOPMENT-REG-S 3.50000% 16-03.05.26 | 1 970 000.00 | 1 869 667.90 | 0.29 |
| USD | SINOPEC GROUP OVERSEAS DEVELOPMNT-REG-S 4.10000% 15-28.04.45 | 900 000.00 | 773 982.00 | 0.12 |
| USD | SINOPEC GRP OVERSEAS DEV LTD-REG-S 4.25000% 18-12.09.28 | 2 870 000.00 | 2 787 889.30 | 0.43 |
| USD | SINOPEC GUP OVERSEAS DEVPT-REG-S 2.30000% 21-08.01.31 | 2 000 000.00 | 1 688 620.00 | 0.26 |
| USD | SOUTH AFRICA, REPUBLIC OF 5.65000% 17-27.09.47 | 4 850 000.00 | 3 528 375.00 | 0.55 |
| USD | SOUTH AFRICA, REPUBLIC OF 4.85000% 19-30.09.29 | 3 100 000.00 | 2 724 125.00 | 0.42 |
| USD | SOUTH AFRICA, REPUBLIC OF 5.75000% 19-30.09.49 | 3 050 000.00 | 2 215 062.50 | 0.35 |
| USD | TRINIDAD & TOBAGO, REPUBLIC OF-REG-S 4.50000% 20-26.06.30 | 1 500 000.00 | 1 406 062.51 | 0.22 |
| USD | TURKEY, REPUBLIC OF 4.75000% 21-26.01.26 | 2 000 000.00 | 1 785 000.00 | 0.28 |
| USD | TURKEY, REPUBLIC OF 6.50000% 21-20.09.33 | 5 950 000.00 | 4 774 875.00 | 0.74 |
| USD | TURKEY, REPUBLIC OF 9.87500% 22-15.01.28 | 4 900 000.00 | 4 967 375.00 | 0.77 |
| USD | TURKEY, REPUBLIC OF 8.60000% 22-24.09.27 | 2 000 000.00 | 1 962 500.00 | 0.31 |
| USD | TURKEY,REPUBLIC OF 9.37500% 23-19.01.33 | 4 500 000.00 | 4 342 500.00 | 0.68 |
| USD | TURKIYE IHRACAT KREDI BANKASI AS-REG-S 9.37500% 23-31.01.26 | 3 350 000.00 | 3 299 750.00 | 0.51 |
| USD | UKRAINE RAILWAYS VIA RL CPTL MKTS-REG-S 8.25000% 19-09.07.24 | 2 350 000.00 | 458 250.00 | 0.07 |
| USD | UKRAINE, GOVERNMENT OF-REG-S STEP UP/DOWN 15-01.09.26 | 4 000 000.00 | 730 750.00 | 0.11 |
| USD | UKRAINE, GOVERNMENT OF-REG-S STEP UP/DOWN 15-01.09.27 | 5 000 000.00 | 896 250.00 | 0.14 |
| USD | UKRAINE, GOVERNMENT OF-REG-S STEP UP/DOWN 17-25.09.34 | 5 200 000.00 | 891 800.00 | 0.14 |
| USD | UKRAINE, GOVERNMENT OF-REG-S 7.25300% 20-15.03.35 | 5 300 000.00 | 900 337.50 | 0.14 |
| USD | UNIFIN FINANCIE DE CV-REG-S *DEFAULTED*9.87500% 21-28.01.29 | 1 700 000.00 | 42 500.00 | 0.01 |
| USD | UZBEKNEFTEGAZ JSC-REG-S 4.75000% 21-16.11.28 | 4 000 000.00 | 3 310 000.00 | 0.52 |
| USD | VEDANTA RESOURCES PLC-REG-S 7.12500% 13-31.05.23 | 1 800 000.00 | 1 645 650.00 | 0.26 |
| USD | VENEZUELA, REP. OF-REG-S *DEFAULTED* 7.75000% 09-13.10.19 | 9 055 000.00 | 745 679.25 | 0.12 |
| USD | YUZHOU GROUP HOLDINGS-REG-S *DEFAULTED* 7.85000% 20-12.08.26 | 800 000.00 | 102 000.00 | 0.02 |
| USD | ZAMBIA, REPUBLIC OF-REG-S *DEFAULTED* 8.97000% 15-30.07.27 | 4 900 000.00 | 2 180 500.00 | 0.34 |
| Total USD |  |  | 339 385 662.07 | 52.82 |
| Total Notes, fester Zins |  | 357 461 262.01 | 55.63 |
| Notes, variabler Zins |  |  |  |
| USD |  |  |  |
| USD	CORP FINANCIERA DE DESARROL-REG-S-SUB 5.250%/VAR 14-15.07.29 | 3 050 000.00 | 2 933 337.50 | 0.46 |
| USD	DP WORLD SALAAM-REG-S-SUB 6.000%/VAR 20-PRP | 1 300 000.00 | 1 291 875.00 | 0.20 |
| Total USD |  | 4 225 212.50 | 0.66 |
| Total Notes, variabler Zins |  | 4 225 212.50 | 0.66 |
| Medium-Term Notes, fester Zins |  |  |  |
| USD |  |  |  |
| USD	ABU DHABI PORTS CO PJSC-REG-S 2.50000% 21-06.05.31 | 1 660 000.00 | 1 366 014.00 | 0.21 |
| USD	ABU DHABI, EMIRATE OF-REG-S 3.12500% 20-16.04.30 | 1 060 000.00 | 971 225.00 | 0.15 |
| USD	ABU DHABI, EMIRATE OF-REG-S 3.87500% 20-16.04.50 | 1 700 000.00 | 1 398 250.00 | 0.22 |
| USD	ANGOLAN GOVT INTERNATIONAL BOND-REG-S 9.12500% 19-26.11.49 | 3 900 000.00 | 3 305 250.00 | 0.51 |
| USD	BAHRAIN GVT INTERNATIONAL BOND-REG-S 5.25000% 21-25.01.33 | 3 000 000.00 | 2 613 750.00 | 0.41 |
| USD	DP WORLD CRESCENT LTD-REG-S 3.87500% 19-18.07.29 | 5 500 000.00 | 5 109 156.25 | 0.79 |

UBS (Lux) Emerging Economies Fund – Global Bonds (USD) Halbjahresbericht per 28. Februar 2023
|  | Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- | --- |
|  |  | Nominal | NR Kursgewinn | Netto- |
|  |  |  | (-verlust) auf Futures/ | vermögens |
|  |  |  | Devisentermin- |  |
|  |  |  | kontrakten/ |  |
|  |  |  | Swaps (Erl. 1) |  |
|  |  |  |  |  |
| USD | DUBAI, GOVERNMENT OF-REG-S 3.90000% 20-09.09.50 | 6 350 000.00 | 4 505 721.88 | 0.70 |
| USD | EGYPT, REPUBLIC OF-REG-S 8.50000% 17-31.01.47 | 3 500 000.00 | 2 231 250.00 | 0.35 |
| USD | EGYPT, REPUBLIC OF-REG-S 3.87500% 21-16.02.26 | 6 580 000.00 | 5 231 100.00 | 0.81 |
| USD | EGYPT, REPUBLIC OF-REG-S 7.30000% 21-30.09.33 | 4 800 000.00 | 3 240 000.00 | 0.50 |
| USD | EGYPT, REPUBLIC OF-REG-S 8.75000% 21-30.09.51 | 5 300 000.00 | 3 392 000.00 | 0.53 |
| USD | EXPORT-IMPORT BANK OF INDIA-REG-S 3.25000% 20-15.01.30 | 400 000.00 | 345 075.00 | 0.05 |
| USD | FINANCE DEP GOVT OF SHARJAH-REG-S 4.37500% 21-10.03.51 | 660 000.00 | 445 500.00 | 0.07 |
| USD | FINANCE DEPRTMENT GOVT OF SHARJAH-REG-S 3.62500% 21-10.03.33 | 3 580 000.00 | 2 877 425.00 | 0.45 |
| USD | GREENKO POWER II LTD-REG-S 4.30000% 21-13.12.28 | 1 000 000.00 | 805 661.87 | 0.13 |
| USD | INDONESIA, REPUBLIC OF-REG-S 4.75000% 17-18.07.47 | 3 040 000.00 | 2 819 934.40 | 0.44 |
| USD | KAZAKHSTAN, REPUBLIC OF-REG-S 6.50000% 15-21.07.45 | 2 830 000.00 | 2 992 371.25 | 0.47 |
| USD | LEBANON, REPUBLIC OF *DEFAULT* 6.37500% 10-09.03.20 | 4 150 000.00 | 283 496.88 | 0.04 |
| USD | NIGERIA, FEDERAL REP OF-REG-S 7.37500% 21-28.09.33 | 3 600 000.00 | 2 610 000.00 | 0.41 |
| USD | NIGERIA, FEDERAL REP OF-REG-S 8.25000% 21-28.09.51 | 3 000 000.00 | 2 070 000.00 | 0.32 |
| USD | NIGERIA, FEDERAL REP OF-REG-S 8.37500% 22-24.03.29 | 3 000 000.00 | 2 527 500.00 | 0.39 |
| USD | OMAN GOVT INTERNATIONAL BOND-REG-S 6.00000% 19-01.08.29 | 1 940 000.00 | 1 936 120.00 | 0.30 |
| USD | PAKISTAN, ISLAMIC REPUBLIC OF-REG-S 7.37500% 21-08.04.31 | 2 000 000.00 | 860 220.00 | 0.13 |
| USD | PERTAMINA PERSERO PT-REG-S 4.15000% 20-25.02.60 | 1 000 000.00 | 708 312.50 | 0.11 |
| USD | PERUSAHAAN LISTRIK NEGARA PT-REG-S 5.45000% 18-21.05.28 | 2 743 000.00 | 2 708 369.63 | 0.42 |
| USD | PETRONAS CAPITAL LTD-REG-S 3.50000% 20-21.04.30 | 9 500 000.00 | 8 657 350.00 | 1.35 |
| USD | PETRONAS CAPITAL LTD-REG-S 4.80000% 20-21.04.60 | 2 000 000.00 | 1 835 375.00 | 0.29 |
| USD | PETRONAS CAPITAL LTD-REG-S 2.48000% 21-28.01.32 | 6 500 000.00 | 5 329 187.51 | 0.83 |
| USD | POLAND, REPUBLIC OF 5.50000% 22-16.11.27 | 3 850 000.00 | 3 924 767.00 | 0.61 |
| USD | POLAND, REPUBLIC OF 5.75000% 22-16.11.32 | 3 000 000.00 | 3 139 440.00 | 0.49 |
| USD | ROMANIA -REG-S 6.00000% 22-25.05.34 | 1 000 000.00 | 970 000.00 | 0.15 |
| USD | SAUDI GOVERNMENT INTERNATIONAL BD-REG-S 4.50000% 16-26.10.46 | 950 000.00 | 816 287.50 | 0.13 |
| USD | SAUDI GOVERNMENT INTERNATIONAL BD-REG-S 5.00000% 18-17.04.49 | 1 000 000.00 | 918 750.00 | 0.14 |
| USD | SAUDI GOVERNMENT INTERNATIONAL BD-REG-S 3.45000% 21-02.02.61 | 7 800 000.00 | 5 368 837.50 | 0.84 |
| USD | SAUDI GOVERNMENT INTERNATIONAL BD-REG-S 4.75000% 23-18.01.28 | 2 700 000.00 | 2 669 625.00 | 0.42 |
| USD | SAUDI GOVERNMENT INTERNATIONAL BD-REG-S 4.87500% 23-18.07.33 | 2 900 000.00 | 2 856 500.00 | 0.44 |
| USD | SAUDI GOVERNMENT INTERNATIONAL-REG-S 5.00000% 23-18.01.53 | 2 100 000.00 | 1 916 250.00 | 0.30 |
| Total USD |  |  | 95 756 073.17 | 14.90 |
| Total Medium-Term Notes, fester Zins |  | 95 756 073.17 | 14.90 |
| Anleihen, fester Zins |  |  |  |
| MXN |  |  |  |
| MXN	MEXICO, UNITED MEXICAN STATES 7.50000% 22-26.05.33 | 500 000.00 | 2 401 036.83 | 0.37 |
| Total MXN |  | 2 401 036.83 | 0.37 |
| USD |  |  |  |
| USD	ANGOLAN GOVT INTERNATIONAL BOND-REG-S 8.25000% 18-09.05.28 | 4 400 000.00 | 4 064 500.00 | 0.63 |
| USD	ARGENTINA, REPUBLIC OF STEP-UP 20-09.07.41 | 4 000 000.00 | 1 256 000.00 | 0.19 |
| USD	AUTORIDAD DEL CANAL DE PANAMA-REG-S 4.95000% 15-29.07.35 | 2 250 000.00 | 2 099 953.12 | 0.33 |
| USD	BAHRAIN GVT INTERNATIONAL BOND-REG-S 7.00000% 16-12.10.28 | 3 000 000.00 | 3 067 500.00 | 0.48 |
| USD	BAHRAIN GVT INTERNATIONAL BOND-REG-S 7.50000% 17-20.09.47 | 4 600 000.00 | 4 278 000.00 | 0.67 |
| USD	COLOMBIA, REPUBLIC OF 7.37500% 06-18.09.37 | 1 660 000.00 | 1 536 330.00 | 0.24 |
| USD	COLOMBIA, REPUBLIC OF 6.12500% 09-18.01.41 | 6 450 000.00 | 5 034 225.00 | 0.78 |
| USD	COLOMBIA, REPUBLIC OF 8.00000% 22-20.04.33 | 4 900 000.00 | 4 838 137.50 | 0.75 |
| USD	CORP NACIONAL DEL COBRE DE CHILE-REG-S 5.62500% 13-18.10.43 | 1 800 000.00 | 1 736 212.50 | 0.27 |
| USD	DEVELOPMENT BANK OF MONGOLIA LLC-REG-S 7.25000% 18-23.10.23 | 2 000 000.00 | 1 894 750.00 | 0.29 |
| USD	DOMINICAN REPUBLIC INTERNATIONAL-REG-S 6.00000% 22-22.02.33 | 5 750 000.00 | 5 203 031.26 | 0.81 |
| USD	DOMINICAN REPUBLIC-REG-S 5.50000% 22-22.02.29 | 3 250 000.00 | 3 006 859.38 | 0.47 |
| USD	EL SALVADOR, REPUBLIC OF-REG-S 7.65000% 05-15.06.35 | 2 390 000.00 | 1 103 582.50 | 0.17 |
| USD	GABON, REPUBLIC OF-REG-S 6.95000% 15-16.06.25 | 1 950 000.00 | 1 869 562.50 | 0.29 |
| USD	GHANA GOVT INTNL BOND-REG-S 7.87500% 19-26.03.27 | 1 805 000.00 | 703 950.00 | 0.11 |
| USD	GHANA GOVT INTNL BOND-REG-S 8.95000% 19-26.03.51 | 2 700 000.00 | 988 875.00 | 0.15 |
| USD	GHANA GOVT INTNL BOND-REG-S 8.75000% 20-11.03.61 | 7 750 000.00 | 2 819 062.50 | 0.44 |
| USD	GUATEMALA, REPUBLIC OF-REG-S 8.12500% 04-06.10.34 | 2 720 000.00 | 3 025 660.00 | 0.47 |
| USD	IHS HOLDING LTD-REG-S 5.62500% 21-29.11.26 | 1 500 000.00 | 1 272 468.75 | 0.20 |
| USD	IRAQ INTERNATIONAL BOND-REG-S 5.80000% 06-15.01.28 | 3 700 000.00 | 2 119 261.71 | 0.33 |
| USD	IRAQ INTERNATIONAL BOND-REG-S 6.75200% 17-09.03.23 | 500 000.00 | 498 100.00 | 0.08 |
| USD	IVORY COAST, REPUBLIC OF-REG-S 6.37500% 15-03.03.28 | 600 000.00 | 567 000.00 | 0.09 |
| USD	IVORY COAST, REPUBLIC OF-REG-S 6.12500% 17-15.06.33 | 2 050 000.00 | 1 763 000.00 | 0.27 |
| USD	JAMAICA, GOVERNMENT OF 8.00000% 07-15.03.39 | 3 750 000.00 | 4 490 625.00 | 0.70 |
| USD	LEBANON, REPUBLIC OF-REG-S *DEFAULTED* 6.00000% 12-27.01.23 | 13 000 000.00 | 888 062.50 | 0.14 |
| USD	LEBANON, REPUBLIC OF-REG-S *DEFAULTED* 6.20000% 15-26.02.25 | 11 000 000.00 | 742 500.00 | 0.12 |
| USD	LEBANON, REPUBLIC OF-REG-S *DEFAULTED* 7.05000% 15-02.11.35 | 5 200 000.00 | 351 000.00 | 0.05 |
| USD	LEBANON, REPUBLIC OF-REG-S *DEFAULTED* 6.65000% 15-03.11.28 | 1 500 000.00 | 101 250.00 | 0.02 |
| USD	LEBANON, REPUBLIC OF-REG-S *DEFAULTED* 6.65000% 16-22.04.24 | 3 500 000.00 | 239 093.75 | 0.04 |
| USD	PERU, REPUBLIC OF 2.78300% 20-23.01.31 | 2 500 000.00 | 2 058 281.25 | 0.32 |
| USD	PERUSAHAAN PENERBIT SBSN-REG-S 2.80000% 20-23.06.30 | 3 150 000.00 | 2 747 981.25 | 0.43 |
| USD	PETROLEOS DE VENEZUE-REG-S *DEFAULTED* 6.00000% 14-16.05.24 | 29 400 000.00 | 1 323 000.00 | 0.21 |
| USD	PHILIPPINES, REPUBLIC OF THE 6.37500% 07-15.01.32 | 1 695 000.00 | 1 824 430.20 | 0.28 |
| USD	PHILIPPINES, REPUBLIC OF THE 3.70000% 16-01.03.41 | 1 675 000.00 | 1 344 371.75 | 0.21 |
| USD	PHILIPPINES, REPUBLIC OF THE 3.70000% 17-02.02.42 | 3 360 000.00 | 2 679 600.00 | 0.42 |
| USD	QATAR, STATE OF-REG-S 4.62500% 16-02.06.46 | 950 000.00 | 883 084.37 | 0.14 |
| USD	RUSSIA, FEDERATION OF-REG-S 4.37500% 18-21.03.29 | 7 400 000.00 | 3 034 000.00 | 0.47 |
| USD	RUSSIA, FEDERATION OF-REG-S 5.10000% 19-28.03.35 | 4 600 000.00 | 1 886 000.00 | 0.29 |
| USD	SHARJAH SUKUK PROGRAM LTD 2.94200% 20-10.06.27 | 2 200 000.00 | 1 974 912.50 | 0.31 |
| USD	SOUTH AFRICA, REPUBLIC OF 4.30000% 16-12.10.28 | 4 000 000.00 | 3 540 000.00 | 0.55 |
| USD	TURKEY, REPUBLIC OF 5.87500% 21-26.06.31 | 4 300 000.00 | 3 407 750.00 | 0.53 |
| USD	URUGUAY, REPUBLIC OF 5.10000% 14-18.06.50 | 8 700 000.00 | 8 517 300.00 | 1.33 |
| USD	URUGUAY, REPUBLIC OF 4.97500% 18-20.04.55 | 500 000.00 | 478 500.00 | 0.07 |
| USD	VENEZUELA, REP. OF-REG-S *DEFAULTED* 7.00000% 07-31.03.38 | 7 055 000.00 | 687 862.50 | 0.11 |
| USD	VIETNAM, SOCIALIST REPUBLIC-REG-S 4.80000% 14-19.11.24 | 800 000.00 | 781 088.00 | 0.12 |
| Total USD |  | 98 726 714.79 | 15.37 |
| Total Anleihen, fester Zins |  | 101 127 751.62 | 15.74 |

UBS (Lux) Emerging Economies Fund – Global Bonds (USD)
Halbjahresbericht per 28. Februar 2023
| Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |

Anleihen, variabler Zins
| USD |  |
| --- | --- |
| USD | NBK TIER 1 FINANCING LTD-REG-S-SUB 3.625%/VAR 21-PRP | 1 500 000.00 | 1 326 375.00 | 0.21 |
| USD | UKRAINE, GOVERNMENT OF-REG-S VAR 15-01.08.41 | 4 300 000.00 | 1 163 150.00 | 0.18 |
| Total USD |  |  | 2 489 525.00 | 0.39 |
| Total Anleihen, variabler Zins | 2 489 525.00 | 0.39 |
| Total Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden | 561 059 824.30 | 87.32 |
| Wertpapiere und Geldmarktinstrumente, die an einem anderen geregelten Markt gehandelt werden |  |  |
| Treasury-Bills, Nullcoupon |  |  |
| USD |  |  |
| USD	AMERICA, UNITED STATES OF TB 0.00000% 20.12.22-18.04.23	12 900 000.00 | 12 820 815.54 | 2.00 |
| Total USD | 12 820 815.54 | 2.00 |
| Total Treasury-Bills, Nullcoupon | 12 820 815.54 | 2.00 |
| Notes, fester Zins |  |  |
| USD |  |  |
| USD	BRAZIL MINAS SPE-REG-S 5.33300% 13-15.02.28	1 550 000.00 | 758 434.37 | 0.12 |
| USD	PETROLEOS DE VENEZUE-REG-S *DEFAULTED* 6.00000% 13-15.11.26	11 700 000.00 | 526 500.00 | 0.08 |
| USD	SURINAME, REPUBLIC OF-REG-S *DEFAULTED* 9.25000% 16-26.10.26	600 000.00 | 403 800.00 | 0.06 |
| Total USD | 1 688 734.37 | 0.26 |
| Total Notes, fester Zins | 1 688 734.37 | 0.26 |
| Anleihen, fester Zins |  |  |
| USD |  |  |
| USD	1MDB GLOBAL INV-REG-S 4.40000% 13-09.03.23	6 500 000.00 | 6 455 150.00 | 1.01 |
| USD	POWER SECTOR ASST & LIAB MGT CORP 9.62500% 03-15.05.28	4 520 000.00 | 5 223 425.00 | 0.81 |
| Total USD | 11 678 575.00 | 1.82 |
| Total Anleihen, fester Zins | 11 678 575.00 | 1.82 |
| Total Wertpapiere und Geldmarktinstrumente, die an einem anderen geregelten Markt gehandelt werden | 26 188 124.91 | 4.08 |
| Andere Geldmarktinstrumente im Sinne des Artikel 41 (1) h) |  |  |
| Treasury-Bills, Nullcoupon |  |  |
| USD |  |  |
| USD	AMERICA, UNITED STATES OF TB 0.00000% 08.11.22-07.03.23	12 800 000.00 | 12 790 580.74 | 1.99 |
| Total USD | 12 790 580.74 | 1.99 |
| Total Treasury-Bills, Nullcoupon | 12 790 580.74 | 1.99 |
| Total Andere Geldmarktinstrumente im Sinne des Artikel 41 (1) h) | 12 790 580.74 | 1.99 |

OGAW/Andere OGA im Sinne des Artikels 41 (1) e) des abgeänderten luxemburgischen Gesetzes vom 17. Dezember 2010
Investment Fonds, open end
Luxemburg
| USD | UBS (LUX) BOND SICAV - CHINA HIGH YIELD (USD) U-X-ACC | 500.00 | 2 884 195.00 | 0.45 |
| --- | --- | --- | --- | --- |
| Total Luxemburg | 2 884 195.00 | 0.45 |
| Total Investment Fonds, open end | 2 884 195.00 | 0.45 |
| Total OGAW/Andere OGA im Sinne des Artikels 41 (1) e) des abgeänderten luxemburgischen Gesetzes vom 17. Dezember 2010 | 2 884 195.00 | 0.45 |
| Total des Wertpapierbestandes | 602 922 724.95 | 93.84 |

| Derivative Instrumente |  |
| --- | --- |
| Derivative Instrumente, die an einer offiziellen Börse gehandelt werden |
| Finanzterminkontrakte auf Anleihen |
|  |  |  |  |
| USD	US 10YR ULTRA NOTE FUTURE 21.06.23 | -783.00 | -91 500.00 | -0.01 |
| USD	US ULTRA LONG BOND (CBT) FUTURE 21.06.23 | -8.00 | 2 000.00 | 0.00 |
| USD	US LONG BOND FUTURE 21.06.23 | 182.00 | -59 718.75 | -0.01 |
| USD	US 10YR TREASURY NOTE FUTURE 21.06.23 | 46.00 | 0.00 | 0.00 |
| USD	US 2YR TREASURY NOTE FUTURE 30.06.23 | 310.00 | -142 890.78 | -0.02 |
| USD	US 5YR TREASURY NOTE FUTURE 30.06.23 | 228.00 | -44 531.14 | -0.01 |
| Total Finanzterminkontrakte auf Anleihen |  | -336 640.67 | -0.05 |
| Total Derivative Instrumente, die an einer offiziellen Börse gehandelt werden |  | -336 640.67 | -0.05 |
| Total Derivative Instrumente |  | -336 640.67 | -0.05 |

UBS (Lux) Emerging Economies Fund – Global Bonds (USD) Halbjahresbericht per 28. Februar 2023
| Bezeichnung	Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- |
| Nominal | NR Kursgewinn | Netto- |
|  | (-verlust) auf Futures/ | vermögens |
|  | Devisentermin- |  |
|  | kontrakten/ |  |
|  | Swaps (Erl. 1) |  |

Devisenterminkontrakte
Gekaufte Währung/ Gekaufter Betrag/Verkaufte Währung/Verkaufter Betrag/Fälligkeitsdatum
| USD | 2 755 102.04 | PEN | 10 800 000.00 | 16.3.2023 | -79 394.84 | -0.01 |
| --- | --- | --- | --- | --- | --- | --- |
| KRW | 1 810 000 000.00 | USD | 1 374 220.83 | 16.3.2023 | -1 337.72 | 0.00 |
| IDR | 37 500 000 000.00 | USD | 2 396 625.55 | 16.3.2023 | 63 266.03 | 0.01 |
| CNH | 9 530 000.00 | USD | 1 377 948.60 | 16.3.2023 | -5 701.49 | 0.00 |
| PEN | 10 800 000.00 | USD | 2 803 010.64 | 16.3.2023 | 31 486.24 | 0.00 |
| USD | 1 836 109.03 | EUR | 1 730 000.00 | 16.3.2023 | -245.85 | 0.00 |
| CLP | 1 200 000 000.00 | USD | 1 393 728.22 | 16.3.2023 | 45 446.26 | 0.01 |
| ZAR | 24 400 000.00 | USD | 1 392 236.66 | 16.3.2023 | -64 770.75 | -0.01 |
| MXN | 27 800 000.00 | USD | 1 393 164.01 | 16.3.2023 | 119 508.72 | 0.02 |
| COP | 6 760 000 000.00 | USD | 1 386 666.67 | 16.3.2023 | 5 097.41 | 0.00 |
| USD | 1 376 058.03 | CNH | 9 530 000.00 | 16.3.2023 | 3 810.92 | 0.00 |
| USD | 1 393 639.86 | ZAR | 24 400 000.00 | 16.3.2023 | 66 173.95 | 0.01 |
| USD | 1 382 904.73 | MXN | 27 800 000.00 | 16.3.2023 | -129 768.00 | -0.02 |
| USD | 1 385 936.03 | COP | 6 760 000 000.00 | 16.3.2023 | -5 828.05 | 0.00 |
| USD | 1 354 631.15 | CLP | 1 200 000 000.00 | 16.3.2023 | -84 543.33 | -0.01 |
| USD | 1 379 783.50 | KRW | 1 810 000 000.00 | 16.3.2023 | 6 900.39 | 0.00 |
| USD | 2 395 400.83 | IDR | 37 500 000 000.00 | 16.3.2023 | -64 490.75 | -0.01 |
| MXN | 26 100 000.00 | USD | 1 367 021.13 | 16.3.2023 | 53 150.03 | 0.01 |
| ZAR | 23 000 000.00 | USD | 1 363 640.95 | 16.3.2023 | -112 341.12 | -0.02 |
| CNH | 9 200 000.00 | USD | 1 368 963.32 | 16.3.2023 | -44 233.69 | -0.01 |
| IDR | 20 800 000 000.00 | USD | 1 370 013.69 | 16.3.2023 | -5 593.83 | 0.00 |
| BRL | 7 140 000.00 | USD | 1 372 971.31 | 16.3.2023 | -9 525.90 | 0.00 |
| COP | 6 490 000 000.00 | USD | 1 365 453.40 | 16.3.2023 | -29 277.53 | 0.00 |
| JPY | 362 700 000.00 | USD | 2 817 121.29 | 16.3.2023 | -148 781.17 | -0.02 |
| USD | 7 375 724.74 | BRL | 38 800 000.00 | 16.3.2023 | -33 474.39 | -0.01 |
| USD | 1 336 983.49 | ZAR | 23 000 000.00 | 16.3.2023 | 85 683.66 | 0.01 |
| ZAR | 56 800 000.00 | USD | 3 334 823.71 | 16.3.2023 | -244 657.16 | -0.04 |
| USD | 3 199 821.62 | ZAR | 56 800 000.00 | 16.3.2023 | 109 655.07 | 0.02 |
| USD | 7 502 863.69 | BRL | 39 300 000.00 | 16.3.2023 | -1 814.81 | 0.00 |
| USD | 1 341 227.77 | COP | 6 490 000 000.00 | 16.3.2023 | 5 051.90 | 0.00 |
| BRL | 17 700 000.00 | USD | 3 358 614.66 | 16.3.2023 | 21 355.05 | 0.00 |
| MXN | 36 000 000.00 | USD | 1 915 958.91 | 16.3.2023 | 42 897.86 | 0.01 |
| EUR | 81 834 800.00 | USD | 87 905 158.16 | 17.3.2023 | -1 033 241.93 | -0.16 |
| CHF | 33 265 800.00 | USD | 36 129 339.16 | 17.3.2023 | -571 968.22 | -0.09 |
| USD | 2 717 713.22 | JPY | 362 700 000.00 | 16.3.2023 | 49 373.10 | 0.01 |
| USD | 1 363 576.77 | IDR | 20 800 000 000.00 | 16.3.2023 | -843.09 | 0.00 |
| USD | 1 342 732.46 | CNH | 9 200 000.00 | 16.3.2023 | 18 002.83 | 0.00 |
| USD | 378 511.10 | CHF | 349 300.00 | 17.3.2023 | 5 148.98 | 0.00 |
| USD | 1 206 072.60 | EUR | 1 128 000.00 | 17.3.2023 | 8 641.66 | 0.00 |
| USD | 1 061 227.28 | EUR | 999 400.00 | 17.3.2023 | 311.96 | 0.00 |
| USD | 581 319.08 | CHF | 541 100.00 | 17.3.2023 | 2 944.49 | 0.00 |
| USD | 3 222 029.48 | CNH | 22 400 000.00 | 16.3.2023 | -3 399.19 | 0.00 |
| USD | 2 589 427.28 | MXN | 47 900 000.00 | 16.3.2023 | -16 940.48 | 0.00 |
| USD | 3 639 956.32 | BRL | 18 900 000.00 | 16.3.2023 | 30 836.12 | 0.00 |
| Total Devisenterminkontrakte | -1 917 430.66 | -0.30 |
| Bankguthaben, Sicht- und Fristgelder und andere liquide Mittel | 18 778 993.97* | 2.92 |
| Kontokorrentkredit und andere kurzfristige Verbindlichkeiten | -21.84 | 0.00 |
| Andere Aktiva und Passiva | 23 053 038.20 | 3.59 |
| Total des Nettovermögens | 642 500 663.95 | 100.00 |
| * Zum 28. Februar 2023 wurden gegenüber Citibank Bankguthaben in Höhe von USD 50 000.00 als Sicherheit eingesetzt. |  |  |

UBS (Lux) Emerging Economies Fund – Global Bonds (USD)
Halbjahresbericht per 28. Februar 2023