# UBS (Lux) Bond SICAV
– Global Short Term Flexible (USD)
| Most important figures |  |
| --- | --- |
|  | ISIN | 30.11.2020 | 31.5.2020 | 31.5.2019 |
| Net assets in USD |  | 61 897 792.94 | 66 508 516.42 | 39 807 002.63 |
| Class (AUD hedged) F-acc 1 | LU1991162741 |  |  |  |
| Shares outstanding |  | - | - | - |
| Net asset value per share in AUD |  | - | - | - |
| Issue and redemption price per share in AUD 2 |  | - | - | - |
| Class (EUR hedged) I-X-acc 3 | LU2073878865 |  |  |  |
| Shares outstanding |  | - | 54 754.0000 | - |
| Net asset value per share in EUR |  | - | 99.75 | - |
| Issue and redemption price per share in EUR 2 |  | - | 99.75 | - |
| Class (EUR hedged) K-1-acc | LU0719382987 |  |  |  |
| Shares outstanding |  | 1.1000 | 1.1000 | 1.1000 |
| Net asset value per share in EUR |  | 3 123 428.62 | 3 051 254.40 | 3 053 138.47 |
| Issue and redemption price per share in EUR 2 |  | 3 130 300.16 | 3 051 254.40 | 3 053 138.47 |
| Class P-acc | LU0659916679 |  |  |  |
| Shares outstanding |  | 32 232.1700 | 31 664.1040 | 64 046.8510 |
| Net asset value per share in USD |  | 88.99 | 86.64 | 84.74 |
| Issue and redemption price per share in USD 2 |  | 89.19 | 86.64 | 84.74 |
| Class (AUD hedged) P-acc 4 | LU1991167542 |  |  |  |
| Shares outstanding |  | 389 076.9980 | 412 627.7010 | - |
| Net asset value per share in AUD |  | 103.39 | 100.93 | - |
| Issue and redemption price per share in AUD 2 |  | 103.62 | 100.93 | - |
| Class (CHF hedged) P-acc | LU0726085425 |  |  |  |
| Shares outstanding |  | 11 020.5950 | 11 960.1580 | 13 493.3710 |
| Net asset value per share in CHF |  | 90.30 | 88.46 | 89.22 |
| Issue and redemption price per share in CHF 2 |  | 90.50 | 88.46 | 89.22 |
| Class (EUR hedged) P-acc | LU0706127809 |  |  |  |
| Shares outstanding |  | 153 769.8410 | 176 193.1270 | 221 918.0080 |
| Net asset value per share in EUR |  | 102.17 | 100.00 | 100.42 |
| Issue and redemption price per share in EUR 2 |  | 102.39 | 100.00 | 100.42 |
| Class P-dist | LU0659904402 |  |  |  |
| Shares outstanding |  | 10 656.9820 | 11 407.0280 | 11 107.4500 |
| Net asset value per share in USD |  | 74.24 | 73.47 | 73.13 |
| Issue and redemption price per share in USD 2 |  | 74.40 | 73.47 | 73.13 |
| Class (EUR hedged) P-dist 5 | LU2251373150 |  |  |  |
| Shares outstanding |  | 100.0000 | - | - |
| Net asset value per share in EUR |  | 100.74 | - | - |
| Issue and redemption price per share in EUR 2 |  | 100.96 | - | - |
| Class (AUD hedged) Q-acc 4 | LU1991167898 |  |  |  |
| Shares outstanding |  | 34 466.9610 | 41 960.3070 | - |
| Net asset value per share in AUD |  | 103.89 | 101.25 | - |
| Issue and redemption price per share in AUD 2 |  | 104.12 | 101.25 | - |
| Class (EUR hedged) Q-acc | LU0718864688 |  |  |  |
| Shares outstanding | 15 554.9030 | 17 198.9220 | 33 321.5820 |
| Net asset value per share in EUR | 104.49 | 102.10 | 102.18 |
| Issue and redemption price per share in EUR 2 | 104.72 | 102.10 | 102.18 |
| 1  For the period from 14.6.2019 to 19.6.2019 the share class (AUD hedged) F-acc was in circulation 2  See note 1 3  For the period from 13.11.2019 to 16.11.2020 the share class (EUR hedged) I-X-acc was in circulation 4  First NAV: 14.6.2019 5  First NAV: 5.11.2020 |  |  |  |

UBS (Lux) Bond SICAV – Global Short Term Flexible (USD) Semi-Annual Report as of 30 November 2020

## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
United States	36.40
New Zealand	10.69
Canada	7.76
South Africa	4.22
United Kingdom	3.40
Spain	3.20
Japan	3.02
China	2.53
France	2.26
Mexico	1.98
Italy	1.76
The Netherlands	1.47
Australia	1.38
Romania	1.28
Germany	1.24
Saudi Arabia	1.00
Kazakhstan	0.93
Ukraine	0.88
Supranationals	0.73
Singapore	0.65
Ireland	0.65
Guatemala	0.53
Chile	0.50
Ghana	0.49
Sweden	0.43
Luxembourg	0.41
Norway	0.39
Mongolia	0.37
Nigeria	0.36
Uruguay	0.35
Kenya	0.35
British Virgin Islands	0.34
Cayman Islands	0.34
Indonesia	0.33
Brazil	0.33
Hong Kong	0.33
Colombia	0.33
Thailand	0.32
Oman	0.32
Costa Rica	0.30
Poland	0.29
Sri Lanka	0.21
Denmark	0.20
Economic Breakdown as a % of net assets	
Countries & central governments	58.72
Banks & credit institutions	9.32
Finance & holding companies	6.61
Mortgage & funding institutions	3.96
Telecommunications	2.58
Cantons, federal states	2.14
Energy & water supply	1.55
Petroleum	1.54
Computer hardware & network equipment providers	1.48
Healthcare & social services	0.85
Miscellaneous unclassified companies	0.81
Cities & municipal authorities	0.79
Pharmaceuticals, cosmetics & medical products	0.76
Supranational organisations	0.73
Insurance	0.73
Textiles, garments & leather goods	0.58
Internet, software & IT services	0.46
Traffic & transportation	0.40
Tobacco & alcohol	0.40
Chemicals	0.33
Building industry & materials	0.22
Miscellaneous services	0.21
Aerospace industry	0.08
Total	95.25
Total	95.25
UBS (Lux) Bond SICAV – Global Short Term Flexible (USD) Semi-Annual Report as of 30 November 2020

## Statement of Net Assets
Assets	30.11.2020
USD
Investments in securities, cost	57 284 800.88
| Investments in securities, unrealized appreciation (depreciation) | 	1 675 151.36	 |
| --- | --- |
| Total investments in securities (Note 1) | 58 959 952.24 |
| Cash at banks, deposits on demand and deposit accounts | 2 810 668.73 |
| Other liquid assets (Margins) | 1 100 018.94 |
| Receivable on subscriptions | 95 091.19 |
| Interest receivable on securities | 466 970.06 |
| Interest receivable on liquid assets | 5 498.90 |
| Other receivables | 59 207.82 |
| Total Assets | 63 497 407.88 |
|  |  |
| Liabilities |  |
| Unrealized loss on financial futures (Note 1) | -54 108.27 |
| Unrealized loss on forward foreign exchange contracts (Note 1) | -612 214.01 |
| Unrealized loss on swaps (Note 1) | -276 268.02 |
| Bank overdraft | -607 311.20 |
| Payable on securities purchases (Note 1) | -105.20 |
| Payable on redemptions | -20 709.04 |
| Provisions for flat fee (Note 2) | -20 763.85 |
| Provisions for taxe d’abonnement (Note 3) | -5 131.46 |
| Provisions for other commissions and fees (Note 2) | 	-3 003.89	 |
| Total provisions | -28 899.20 |
| Total Liabilities | -1 599 614.94 |
|  |  |
| Net assets at the end of the period | 61 897 792.94 |
| Statement of Operations | USD |
| Income | 1.6.2020-30.11.2020 |
| Interest on liquid assets | 7 289.43 |
| Interest on securities | 877 561.15 |
| Interest received on swaps (Note 1) | 351 379.08 |
| Income on securities lending (Note 12) | 13 947.68 |
| Other income (Note 4) | 7 363.70 |
| Total income | 1 257 541.04 |
|  |  |
| Expenses |  |
| Interest paid on swaps (Note 1) | -220 952.37 |
| Flat fee (Note 2) | -256 787.29 |
| Taxe d’abonnement (Note 3) | -16 055.85 |
| Cost on securities lending (Note 12) | -5 579.07 |
| Other commissions and fees (Note 2) | -2 963.51 |
| Interest on cash and bank overdraft | -929.11 |
| Total expenses | -503 267.20 |
|  |  |
| Net income (loss) on investments | 754 273.84 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | 918 954.03 |
| Realized gain (loss) on yield-evaluated securities and money market instruments | -1 719.31 |
| Realized gain (loss) on financial futures | -1 932.28 |
| Realized gain (loss) on forward foreign exchange contracts | 3 918 416.57 |
| Realized gain (loss) on swaps | 789 469.52 |
| Realized gain (loss) on foreign exchange | 597 848.54 |
| Total realized gain (loss) | 6 221 037.07 |
|  |  |
| Net realized gain (loss) of the period | 6 975 310.91 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | 2 832 223.21 |
| Unrealized appreciation (depreciation) on yield-evaluated securities and money market instruments | -1 703.33 |
| Unrealized appreciation (depreciation) on financial futures | -45 120.04 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | -1 761 836.99 |
| Unrealized appreciation (depreciation) on swaps | -824 037.76 |
| Total changes in unrealized appreciation (depreciation) | 199 525.09 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | 7 174 836.00 |

UBS (Lux) Bond SICAV – Global Short Term Flexible (USD) Semi-Annual Report as of 30 November 2020
| Changes in Net Assets |  |
| --- | --- |
|  |  | USD |
|  |  | 1.6.2020-30.11.2020 |
| Net assets at the beginning of the period |  | 66 508 516.42 |
| Subscriptions |  | 1 190 754.90 |
| Redemptions |  | 	-12 962 625.95	 |
| Total net subscriptions (redemptions) |  | -11 771 871.05 |
| Dividend paid |  | -13 688.43 |
| Net income (loss) on investments |  | 754 273.84 |
| Total realized gain (loss) |  | 6 221 037.07 |
| Total changes in unrealized appreciation (depreciation) |  | 	199 525.09	 |
| Net increase (decrease) in net assets as a result of operations |  | 7 174 836.00 |
| Net assets at the end of the period |  | 61 897 792.94 |
| Changes in the Number of Shares outstanding |  |  |
|  |  | 1.6.2020-30.11.2020 |
| Class |  | (EUR hedged) I-X-acc |
| Number of shares outstanding at the beginning of the period |  | 54 754.0000 |
| Number of shares issued |  | 0.0000 |
| Number of shares redeemed |  | -54 754.0000 |
| Number of shares outstanding at the end of the period |  | 0.0000 |
| Class |  | (EUR hedged) K-1-acc |
| Number of shares outstanding at the beginning of the period |  | 1.1000 |
| Number of shares issued |  | 0.0000 |
| Number of shares redeemed |  | 0.0000 |
| Number of shares outstanding at the end of the period |  | 1.1000 |
| Class |  | P-acc |
| Number of shares outstanding at the beginning of the period |  | 31 664.1040 |
| Number of shares issued |  | 847.0070 |
| Number of shares redeemed |  | -278.9410 |
| Number of shares outstanding at the end of the period |  | 32 232.1700 |
| Class |  | (AUD hedged) P-acc |
| Number of shares outstanding at the beginning of the period |  | 412 627.7010 |
| Number of shares issued |  | 7 546.0980 |
| Number of shares redeemed |  | -31 096.8010 |
| Number of shares outstanding at the end of the period |  | 389 076.9980 |
| Class |  | (CHF hedged) P-acc |
| Number of shares outstanding at the beginning of the period |  | 11 960.1580 |
| Number of shares issued |  | 62.3380 |
| Number of shares redeemed |  | -1 001.9010 |
| Number of shares outstanding at the end of the period |  | 11 020.5950 |
| Class |  | (EUR hedged) P-acc |
| Number of shares outstanding at the beginning of the period |  | 176 193.1270 |
| Number of shares issued |  | 4 511.7580 |
| Number of shares redeemed |  | -26 935.0440 |
| Number of shares outstanding at the end of the period |  | 153 769.8410 |
| Class |  | P-dist |
| Number of shares outstanding at the beginning of the period |  | 11 407.0280 |
| Number of shares issued |  | 1.1980 |
| Number of shares redeemed |  | -751.2440 |
| Number of shares outstanding at the end of the period |  | 10 656.9820 |
| Class |  | (EUR hedged) P-dist |
| Number of shares outstanding at the beginning of the period |  | 0.0000 |
| Number of shares issued |  | 100.0000 |
| Number of shares redeemed |  | 0.0000 |
| Number of shares outstanding at the end of the period |  | 100.0000 |
| Class |  | (AUD hedged) Q-acc |
| Number of shares outstanding at the beginning of the period |  | 41 960.3070 |
| Number of shares issued |  | 0.0000 |
| Number of shares redeemed |  | -7 493.3460 |
| Number of shares outstanding at the end of the period |  | 34 466.9610 |
| Class |  | (EUR hedged) Q-acc |
| Number of shares outstanding at the beginning of the period |  | 17 198.9220 |
| Number of shares issued |  | 11.9020 |
| Number of shares redeemed |  | -1 655.9210 |
| Number of shares outstanding at the end of the period |  | 15 554.9030 |
| Annual Distribution 1 |  |  |
| UBS (Lux) Bond SICAV – Global Short Term Flexible (USD)	Ex-Date | Pay-Date | Currency	Amount per share |
| P-dist	3.8.2020 | 6.8.2020 | USD	1.20 |
| 1  See note 5 |  |  |

UBS (Lux) Bond SICAV – Global Short Term Flexible (USD) Semi-Annual Report as of 30 November 2020

## Statement of Investments in Securities and other Net Assets as of 30 November 2020
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Transferable securities and money market instruments listed on an official stock exchange |  |  |  |
| Notes, fixed rate |  |  |  |
| AUD |  |  |  |
| AUD	AT&T INC 3.45000% 18-19.09.23 | 1 000 000.00 | 791 435.85 | 1.27 |
| Total AUD |  | 791 435.85 | 1.27 |
| CAD |  |  |  |
| CAD	BRITISH COLUMBIA, PROVINCE OF 3.30000% 13-18.12.23 | 1 000 000.00 | 837 217.38 | 1.35 |
| Total CAD |  | 837 217.38 | 1.35 |
| EUR |  |  |  |
| EUR	ALTICE FRANCE-REG-S 5.87500% 18-01.02.27 | 100 000.00 | 127 544.83 | 0.21 |
| EUR	BNG BANK NV-REG-S 0.05000% 20-02.04.25 | 520 000.00 | 636 833.14 | 1.03 |
| EUR	FINANCIAL & RISK US HOLDINGS INC-REG-S 6.87500% 18-15.11.26 | 100 000.00 | 128 890.55 | 0.21 |
| EUR	MERCK & CO INC 1.12500% 14-15.10.21 | 100 000.00 | 120 722.89 | 0.20 |
| EUR	PHILIP MORRIS INTERNATIONAL INC 2.87500% 12-30.05.24 | 100 000.00 | 132 075.31 | 0.21 |
| EUR	SOFTBANK GROUP CORP-REG-S 5.00000% 18-15.04.28 | 100 000.00 | 130 617.87 | 0.21 |
| EUR	UKRAINE, GOVERNMENT OF-REG-S 4.37500% 20-27.01.30 | 300 000.00 | 335 534.10 | 0.54 |
| EUR	UNILABS SUBHOLDING AB-REG-S 5.75000% 17-15.05.25 | 100 000.00 | 122 730.12 | 0.20 |
| Total EUR |  | 1 734 948.81 | 2.81 |
| GBP |  |  |  |
| GBP	TRAVIS PERKINS PLC-REG-S 3.75000% 20-17.02.26 | 100 000.00 | 137 517.68 | 0.22 |
| Total GBP |  | 137 517.68 | 0.22 |
| USD |  |  |  |
| USD	ADOBE INC 1.70000% 20-01.02.23 | 150 000.00 | 154 686.94 | 0.25 |
| USD	AECOM TECHNOLOGY CORP 5.87500% 15-15.10.24 | 50 000.00 | 55 500.00 | 0.09 |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 4.50000% 20-15.09.23 | 150 000.00 | 160 614.33 | 0.26 |
| USD	ALTRIA GROUP INC 4.40000% 19-14.02.26 | 100 000.00 | 115 831.27 | 0.19 |
| USD	AMBER CIRCLE FUNDING LTD-REG-S 3.25000% 12-04.12.22 | 200 000.00 | 207 812.50 | 0.34 |
| USD	AMERICAN EXPRESS CO 3.40000% 18-27.02.23 | 100 000.00 | 106 415.40 | 0.17 |
| USD	APPLE INC 1.80000% 19-11.09.24 | 100 000.00 | 104 624.94 | 0.17 |
| USD	BERKSHIRE HATHAWAY ENERGY CO 2.80000% 18-15.01.23 | 100 000.00 | 104 938.70 | 0.17 |
| USD	BRAZIL, FEDERATIVE REPUBLIC OF 2.62500% 12-05.01.23 | 200 000.00 | 207 312.50 | 0.33 |
| USD	BRISTOL-MYERS SQUIBB CO 2.60000% 20-16.05.22 | 100 000.00 | 103 375.32 | 0.17 |
| USD	CHEVRON CORP 1.14100% 20-11.05.23 | 160 000.00 | 163 217.01 | 0.26 |
| USD	CHILE, REPUBLIC OF 2.25000% 12-30.10.22 | 300 000.00 | 309 375.00 | 0.50 |
| USD	CIGNA CORP 3.40000% 19-17.09.21 | 100 000.00 | 102 410.58 | 0.17 |
| USD	CITIGROUP INC 2.75000% 17-25.04.22 | 150 000.00 | 154 644.00 | 0.25 |
| USD	CNOOC FINANCE 2012 LTD-REG-S 3.87500% 12-02.05.22 | 200 000.00 | 207 937.50 | 0.34 |
| USD	CNPC HK OVERSEAS CAPITAL LTD-REG-S 4.50000% 11-28.04.21 | 270 000.00 | 273 859.35 | 0.44 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 4.25000% 12-26.01.23 | 200 000.00 | 188 437.50 | 0.30 |
| USD	CVS HEALTH CORP 2.62500% 19-15.08.24 | 90 000.00 | 96 326.51 | 0.16 |
| USD	DIAGEO CAPITAL PLC 2.12500% 19-24.10.24 | 200 000.00 | 211 218.52 | 0.34 |
| USD	DOMINION ENERGY INC 2.00000% 16-15.08.21 | 70 000.00 | 70 701.77 | 0.11 |
| USD	ENERGY TRANSFER OPERATING LP 4.50000% 19-15.04.24 | 100 000.00 | 107 800.70 | 0.17 |
| USD	EXELON CORP 2.45000% 16-15.04.21 | 140 000.00 | 140 923.50 | 0.23 |
| USD	EXXON MOBIL CORP 1.90200% 19-16.08.22 | 120 000.00 | 123 487.81 | 0.20 |
| USD	GHANA GOVT INTNL BOND-REG-S 6.37500% 20-11.02.27 | 300 000.00 | 301 218.75 | 0.49 |
| USD	GOLDMAN SACHS GROUP INC 3.50000% 20-01.04.25 | 150 000.00 | 166 024.72 | 0.27 |
| USD	GUATEMALA, REPUBLIC OF-REG-S 4.37500% 17-05.06.27 | 300 000.00 | 328 781.25 | 0.53 |
| USD	HONEYWELL INTERNATIONAL INC 2.15000% 19-08.08.22 | 50 000.00 | 51 530.90 | 0.08 |
| USD	HSBC BANK PLC-144A 4.75000% 11-19.01.21 | 190 000.00 | 191 073.16 | 0.31 |
| USD	INDONESIA, REPUBLIC OF-REG-S 3.75000% 12-25.04.22 | 200 000.00 | 207 437.50 | 0.33 |
| USD	INTERNATIONAL BUSINESS MACHINES CORP 2.85000% 19-13.05.22 | 350 000.00 | 363 097.21 | 0.59 |
| USD	KENYA, REPUBLIC OF-REG-S 6.87500% 14-24.06.24 | 200 000.00 | 216 312.50 | 0.35 |
| USD	KINDER MORGAN INC 3.15000% 17-15.01.23 | 100 000.00 | 104 999.18 | 0.17 |
| USD	MORGAN STANLEY 2.50000% 16-21.04.21 | 230 000.00 | 231 920.57 | 0.37 |
| USD	NIGERIA, FEDERAL REPUBLIC OF-REG-S 7.62500% 18-21.11.25 | 200 000.00 | 225 312.50 | 0.36 |
| USD	OMAN GOVT INTERNATIONAL BOND-REG-S 4.12500% 18-17.01.23 | 200 000.00 | 199 437.50 | 0.32 |
| USD	ONCOR ELECTRIC DELIVERY CO 2.75000% 19-01.06.24 | 110 000.00 | 117 936.87 | 0.19 |
| USD	SAUDI ARABIAN OIL CO-REG-S 1.62500% 20-24.11.25 | 200 000.00 | 203 602.00 | 0.33 |
| USD	SOUTH AFRICA, REPUBLIC OF 5.87500% 07-30.05.22 | 400 000.00 | 425 375.00 | 0.69 |
| USD	SOUTHWEST AIRLINES CO 4.75000% 20-04.05.23 | 100 000.00 | 108 455.26 | 0.18 |
| USD	SOUTHWESTERN ELECTRIC POWER 3.55000% 12-15.02.22 | 130 000.00 | 133 704.07 | 0.22 |
| USD	SPRINT CORP 7.87500% 14-15.09.23 | 50 000.00 | 57 667.29 | 0.09 |
| USD	SRI LANKA, DEMOCRATIC REP OF-REG-S 6.85000% 19-14.03.24 | 200 000.00 | 127 750.00 | 0.21 |
| USD	TEVA PHARMACEUTICAL FINANCE NL III BV 2.20000% 16-21.07.21 | 26 000.00 | 25 910.62 | 0.04 |
| USD	TRUIST FINANCIAL CORP 2.70000% 16-27.01.22 | 50 000.00 | 51 289.35 | 0.08 |
| USD	UKRAINE, GOVERNMENT OF-REG-S 7.75000% 15-01.09.21 | 200 000.00 | 207 200.00 | 0.33 |
| USD	URUGUAY, REPUBLIC OF 4.50000% 13-14.08.24 | 200 000.00 | 219 562.50 | 0.35 |
| USD	WALT DISNEY CO 1.75000% 19-30.08.24 | 100 000.00 | 103 615.79 | 0.17 |
| USD	WESTPAC BANKING CORP 2.80000% 17-11.01.22 | 100 000.00 | 102 709.00 | 0.17 |
| USD	WESTPAC BANKING CORP 2.00000% 20-13.01.23 | 75 000.00 | 77 686.35 | 0.13 |
| USD	XCEL ENERGY INC 2.40000% 16-15.03.21 | 130 000.00 | 130 542.95 | 0.21 |
| Total USD |  | 8 151 604.44 | 13.17 |
| Total Notes, fixed rate |  | 11 652 724.16 | 18.82 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	ALLIANZ SE-REG-S-SUB 3.500%/VAR 20-PRP | 200 000.00 | 202 100.00 | 0.32 |
| Total USD |  | 202 100.00 | 0.32 |
| Total Notes, floating rate |  | 202 100.00 | 0.32 |

UBS (Lux) Bond SICAV – Global Short Term Flexible (USD) Semi-Annual Report as of 30 November 2020
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Medium term notes, fixed rate |  |  |  |
| AUD |  |  |  |
| AUD	APPLE INC-REG-S 3.70000% 15-28.08.22 | 500 000.00 | 390 405.23 | 0.63 |
| AUD	GENERAL MOTORS FINANCIAL CO INC 3.85000% 19-21.02.23 | 500 000.00 | 385 343.07 | 0.62 |
| AUD	LLOYDS BANKING GROUP 3.65000% 17-20.03.23 | 500 000.00 | 389 145.22 | 0.63 |
| AUD	VERIZON COMMUNICATIONS INC 3.50000% 17-17.02.23 | 500 000.00 | 391 867.88 | 0.63 |
| AUD	WESTPAC BANKING CORP 3.25000% 18-16.11.23 | 500 000.00 | 400 010.08 | 0.65 |
| Total AUD |  | 1 956 771.48 | 3.16 |
| EUR |  |  |  |
| EUR	BAT INTERNATIONAL FINANCE PLC-REG-S 0.87500% 15-13.10.23 | 100 000.00 | 122 370.54 | 0.20 |
| EUR	BNP PARIBAS-REG-S 1.12500% 18-22.11.23 | 100 000.00 | 123 942.83 | 0.20 |
| EUR	COMMERZBANK AG-REG-S 0.50000% 18-28.08.23 | 30 000.00 | 36 550.25 | 0.06 |
| EUR	DANSKE BANK AS-REG-S 1.37500% 19-24.05.22 | 100 000.00 | 122 307.62 | 0.20 |
| EUR	DEUTSCHE BANK AG-REG-S 1.12500% 18-30.08.23 | 50 000.00 | 61 861.48 | 0.10 |
| EUR	DNB BANK ASA-REG-S 0.05000% 19-14.11.23 | 200 000.00 | 241 231.91 | 0.39 |
| EUR	EDP FINANCE BV-REG-S 2.37500% 16-23.03.23 | 100 000.00 | 126 724.47 | 0.20 |
| EUR	KREDITANSTALT FUER WIEDERAUFBAU-REG-S 0.01000% 20-31.03.25 | 280 000.00 | 344 314.21 | 0.56 |
| EUR	ROMANIA-REG-S 4.62500% 19-03.04.49 | 300 000.00 | 469 433.73 | 0.76 |
| EUR	SPAIN, KINGDOM OF 0.45000% 17-31.10.22 | 700 000.00 | 854 123.64 | 1.38 |
| EUR	STANDARD CHARTERED PLC-REG-S 1.62500% 14-13.06.21 | 100 000.00 | 120 851.61 | 0.20 |
| Total EUR |  | 2 623 712.29 | 4.25 |
| GBP |  |  |  |
| GBP	AUTOSTRADE PER L’ITALIA SPA 6.25000% 04-09.06.22 | 100 000.00 | 141 115.32 | 0.23 |
| GBP	CHINA DEVELOPMENT BANK-REG-S 1.25000% 20-21.01.23 | 100 000.00 | 134 594.40 | 0.21 |
| GBP	PHOENIX GROUP HOLDINGS PLC-REG-S-SUB 4.12500% 17-20.07.22 | 200 000.00 | 277 856.19 | 0.45 |
| Total GBP |  | 553 565.91 | 0.89 |
| NZD |  |  |  |
| NZD	INTL BK FOR RECONSTR & DEVT WORLD BANK 3.50000% 16-22.01.21 | 640 000.00 | 451 847.54 | 0.73 |
| Total NZD |  | 451 847.54 | 0.73 |
| USD |  |  |  |
| USD	EXPORT IMPORT BANK OF THAILAND-REG-S 1.45700% 20-15.10.25 | 200 000.00 | 200 763.34 | 0.32 |
| USD	KAZAKHSTAN, REPUBLIC OF-REG-S 5.12500% 15-21.07.25 | 300 000.00 | 352 950.00 | 0.57 |
| USD	MONGOLIA,GOVERNMENT OF-REG-S 8.75000% 17-09.03.24 | 200 000.00 | 231 000.00 | 0.37 |
| USD	ROMANIA-REG-S 6.75000% 12-07.02.22 | 300 000.00 | 321 093.75 | 0.52 |
| USD	SAUDI ARABIAN OIL CO-REG-S 2.87500% 19-16.04.24 | 200 000.00 | 211 250.00 | 0.34 |
| USD	SAUDI GOVERNMENT INTERNATIONAL BD-REG-S 2.37500% 16-26.10.21 | 200 000.00 | 202 900.00 | 0.33 |
| USD	SWEDEN, KINGDOM OF-REG-S 0.75000% 20-30.03.22 | 130 000.00 | 130 911.30 | 0.21 |
| USD	UNITED OVERSEAS BANK LTD-REG-S 3.20000% 18-23.04.21 | 200 000.00 | 201 930.00 | 0.33 |
| Total USD |  | 1 852 798.39 | 2.99 |
| Total Medium term notes, fixed rate |  | 7 438 695.61 | 12.02 |
| Medium term notes, zero coupon |  |  |  |
| EUR |  |  |  |
| EUR	LVMH MOET HENNESSY LOUIS VUITTON-REG-S 0.00000% 20-11.02.24 | 300 000.00 | 361 458.86 | 0.58 |
| EUR	POLAND, REPUBLIC OF-REG-S 0.00000% 20-10.02.25 | 150 000.00 | 181 112.16 | 0.29 |
| EUR	SIEMENS FINANCIERINGSMAATSCH NV-REG-S 0.00000% 20-20.02.23 | 100 000.00 | 120 389.87 | 0.20 |
| Total EUR |  | 662 960.89 | 1.07 |
| Total Medium term notes, zero coupon |  | 662 960.89 | 1.07 |
| Medium term notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	ALLIED IRISH BANKS PLC-REG-S-SUB 7.375%/VAR 15-PRP | 200 000.00 | 239 240.00 | 0.39 |
| EUR	DEUTSCHE BANK AG-REG-S 1.000%/VAR 20-19.11.25 | 100 000.00 | 120 758.79 | 0.19 |
| Total EUR |  | 359 998.79 | 0.58 |
| GBP |  |  |  |
| GBP	IMPERIAL BRANDS FIN-REG-S 9.000%/RATING LINKED 09-17.02.22 | 150 000.00 | 220 476.30 | 0.36 |
| Total GBP |  | 220 476.30 | 0.36 |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 2.816%/VAR 17-21.07.23 | 200 000.00 | 207 539.32 | 0.33 |
| USD	DBS GROUP HOLDINGS LTD-REG-S-SUB 3.600%/VAR 16-PRP | 200 000.00 | 201 638.00 | 0.33 |
| Total USD |  | 409 177.32 | 0.66 |
| Total Medium term notes, floating rate |  | 989 652.41 | 1.60 |
| Bonds, fixed rate |  |  |  |
| AUD |  |  |  |
| AUD	SUMITOMO MITSUI FIN GP INC 3.66200% 17-29.03.22 | 500 000.00 | 382 812.00 | 0.62 |
| Total AUD |  | 382 812.00 | 0.62 |
| CAD |  |  |  |
| CAD	CANADA, GOVERNMENT 1.00000% 17-01.09.22 | 3 700 000.00 | 2 893 132.18 | 4.67 |
| Total CAD |  | 2 893 132.18 | 4.67 |
| CNY |  |  |  |
| CNY	CHINA DEVELOPMENT BANK CORP 3.80000% 16-25.01.36 | 5 000 000.00 | 745 078.53 | 1.20 |
| Total CNY |  | 745 078.53 | 1.20 |

UBS (Lux) Bond SICAV – Global Short Term Flexible (USD) Semi-Annual Report as of 30 November 2020
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| EUR |  |  |  |  |
| EUR | INTRUM JUSTITIA AB-REG-S 2.75000% 17-15.07.22 | 100 000.00 | 11 961.09 | 0.02 |
| EUR | ITALY, REPUBLIC OF-BTP-144A-REG-S 3.250% 14-01.09.46 | 100 000.00 | 167 640.25 | 0.27 |
| EUR | ITALY, REPUBLIC OF-BTP 1.60000% 16-01.06.26 | 600 000.00 | 778 322.91 | 1.26 |
| EUR | MPT OPERATING PARTNERSHIP LP/FIN CORP 3.32500% 17-24.03.25 | 100 000.00 | 126 712.03 | 0.20 |
| EUR | SPAIN, KINGDOM OF-144A-REG-S 4.40000% 13-31.10.23 | 400 000.00 | 548 206.98 | 0.89 |
| EUR | SPAIN, KINGDOM OF-144A-REG-S 2.15000%15-31.10.25 | 430 000.00 | 580 101.98 | 0.94 |
| Total EUR |  |  | 2 212 945.24 | 3.58 |
| GBP |  |  |  |  |
| GBP | BUPA FINANCE PLC-REG-S-SUB 5.00000% 13-25.04.23 | 200 000.00 | 289 709.59 | 0.47 |
| GBP | SCOTTISH WIDOWS PLC-REG-S-SUB 5.50000% 13-16.06.23 | 100 000.00 | 147 238.57 | 0.24 |
| Total GBP |  |  | 436 948.16 | 0.71 |
| MXN |  |  |  |  |
| MXN | MEXICO, UNITED MEXICAN STATES 7.75000% 11-13.11.42 | 136 000.00 | 746 422.85 | 1.21 |
| Total MXN |  | 746 422.85 | 1.21 |
| NZD |  |  |  |  |
| NZD | NEW ZEALAND LOC GOV FUNDING AGENCY 6.00000% 13-15.05.21 | 240 000.00 | 173 035.55 | 0.28 |
| Total NZD |  |  | 173 035.55 | 0.28 |
| USD |  |  |  |  |
| USD | CHINA, PEOPLE’S REPUBLIC OF-REG-S 1.87500% 19-03.12.22 | 400 000.00 | 412 250.00 | 0.67 |
| USD | CNAC HK FINBRIDGE CO LTD-REG-S 4.62500% 18-14.03.23 | 200 000.00 | 206 562.50 | 0.33 |
| USD | COLOMBIA, REPUBLIC OF 4.37500% 11-12.07.21 | 200 000.00 | 204 937.50 | 0.33 |
| USD | ENTERPRISE PRODUCTS OPERATING LLC 2.80000% 18-15.02.21 | 100 000.00 | 100 501.89 | 0.16 |
| USD | HCA INC 5.37500% 15-01.02.25 | 100 000.00 | 111 953.00 | 0.18 |
| USD | JAPAN BANK FOR INTL COOPERATION 0.62500% 20-22.05.23 | 200 000.00 | 201 026.00 | 0.33 |
| USD | KAZAKHSTAN, REPUBLIC OF-REG-S 3.87500% 14-14.10.24 | 200 000.00 | 221 000.00 | 0.36 |
| USD | PETROLEOS MEXICANOS 5.50000% 10-21.01.21 | 150 000.00 | 150 515.62 | 0.24 |
| Total USD |  |  | 1 608 746.51 | 2.60 |
| ZAR |  |  |  |  |
| ZAR | SOUTH AFRICA, REPUBLIC OF 8.75000% 12-28.02.48 | 24 000 000.00 | 1 240 242.77 | 2.00 |
| ZAR | SOUTH AFRICA, REPUBLIC OF 8.50000% 13-31.01.37 | 18 000 000.00 | 948 820.32 | 1.53 |
| Total ZAR |  |  | 2 189 063.09 | 3.53 |
| Total Bonds, fixed rate |  | 11 388 184.11 | 18.40 |
| Bonds, zero coupon |  |  |  |
| EUR |  |  |  |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.00000% 19-25.02.22 | 650 000.00 | 784 062.81 | 1.27 |
| Total EUR |  | 784 062.81 | 1.27 |
| Total Bonds, zero coupon |  | 784 062.81 | 1.27 |
| Bonds, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	HOLCIM FINANCE LUXEMBOURG SA-REG-S-SUB 3.000%/VAR 19-PRP | 100 000.00 | 124 318.67 | 0.20 |
| Total EUR |  | 124 318.67 | 0.20 |
| NZD |  |  |  |
| NZD	NEW ZEALAND 2.000%/CPI LINKED 12-20.09.25 | 3 770 000.00 | 3 280 335.80 | 5.30 |
| Total NZD |  | 3 280 335.80 | 5.30 |
| Total Bonds, floating rate |  | 3 404 654.47 | 5.50 |
| Treasury notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 2.62500% 19-31.01.26 | 3 800 000.00 | 4 235 218.56 | 6.84 |
| USD	AMERICA, UNITED STATES OF 2.12500% 19-15.05.22 | 3 100 000.00 | 3 189 730.43 | 5.15 |
| USD	AMERICA, UNITED STATES OF 2.00000% 14-31.10.21 | 160 000.00 | 162 762.50 | 0.26 |
| USD	AMERICA, UNITED STATES OF 2.75000% 13-15.11.23 | 1 600 000.00 | 1 721 124.96 | 2.78 |
| USD	AMERICA, UNITED STATES OF 1.62500% 19-30.11.26 | 1 100 000.00 | 1 173 562.50 | 1.90 |
| USD	AMERICA, UNITED STATES OF 0.50000% 20-30.06.27 | 910 000.00 | 906 089.84 | 1.47 |
| Total USD |  | 11 388 488.79 | 18.40 |
| Total Treasury notes, fixed rate |  | 11 388 488.79 | 18.40 |
| Treasury notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 0.625%/CPI LINKED 18-15.04.23 | 1 000 000.00 | 1 094 358.79 | 1.77 |
| Total USD |  | 1 094 358.79 | 1.77 |
| Total Treasury notes, floating rate |  | 1 094 358.79 | 1.77 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 49 005 882.04 | 79.17 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Asset Backed Securities, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AMERICAN CREDIT ACCEPTANCE-144A 3.69000% 17-12.06.23 | 124 000.00 | 74 710.55 | 0.12 |
| USD	CPS AUTO TRUST-144A 4.61000% 17-15.12.22 | 350 000.00 | 327 529.23 | 0.53 |
| USD	DELL EQUIPMENT FINANCE TRUST-144A 3.53000% 18-22.06.23 | 350 000.00 | 354 477.41 | 0.57 |
| USD	DRIVE AUTO RECEIVABLES TRUST 3.84000% 17-15.03.23 | 137 000.00 | 58 297.93 | 0.09 |

UBS (Lux) Bond SICAV – Global Short Term Flexible (USD) Semi-Annual Report as of 30 November 2020
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | FLAGSHIP CREDIT AUTO TRUST-144A 3.62000% 17-15.07.23 | 100 000.00 | 102 267.43 | 0.17 |
| USD | SOFI CONSUMER LOAN PROGRAM-144A 3.79000% 18-26.04.27 | 350 000.00 | 357 521.15 | 0.58 |
| Total USD |  |  | 1 274 803.70 | 2.06 |
| Total Asset Backed Securities, fixed rate |  | 1 274 803.70 | 2.06 |
| Mortgage Backed Securities, fixed rate |  |  |  |
| USD |  |  |  |
| USD	MSBAM LYNCH TRUST-SUB 3.99400% 16-01.12.49 | 100 000.00 | 111 813.35 | 0.18 |
| Total USD |  | 111 813.35 | 0.18 |
| Total Mortgage Backed Securities, fixed rate |  | 111 813.35 | 0.18 |
| Mortgage Backed Securities, floating rate |  |  |  |
| USD |  |  |  |
| USD	AVENTURA MALL TRUST-144A FLR 18-01.07.40 | 200 000.00 | 215 852.48 | 0.35 |
| USD	BAMLL COMMERCIAL MORT SET-144A 1M LIBOR+135BP 18-15.09.34 | 175 000.00 | 166 669.40 | 0.27 |
| USD	BANK 2017-BNK9 VAR 17-01.11.54 | 150 000.00 | 170 633.84 | 0.28 |
| USD	BBCMS TRUST CBM-144A 1M LIBOR+119.1098BP 18-15.07.37 | 200 000.00 | 187 477.84 | 0.30 |
| USD	BENCHMARK MORTGAGE TRUST VAR 18-01.02.51 | 100 000.00 | 113 769.50 | 0.18 |
| USD	CAMB COMM MORTGAGE TRUST-144A-SUB 1M LIBOR+175BP 19-15.12.37 | 140 000.00 | 138 947.10 | 0.22 |
| USD	CORE TRUST CORE-144A 1M LIBOR+110BP 19-15.12.31 | 100 000.00 | 98 889.92 | 0.16 |
| USD	JPMCC COMMERCIAL MORTGAGE SEC TRUST VAR 17-01.09.50 | 300 000.00 | 302 516.37 | 0.49 |
| USD	JPMDB COMMER MORTGAGE SECURITIES TRUST VAR 17-01.03.50 | 150 000.00 | 167 304.39 | 0.27 |
| Total USD |  | 1 562 060.84 | 2.52 |
| Total Mortgage Backed Securities, floating rate |  | 1 562 060.84 | 2.52 |
| Notes, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	ALTICE FRANCE HOLDING SA-REG-S 8.00000% 19-15.05.27 | 100 000.00 | 128 970.22 | 0.21 |
| Total EUR |  | 128 970.22 | 0.21 |
| USD |  |  |  |
| USD	ABB FINANCE USA INC 2.87500% 12-08.05.22 | 160 000.00 | 165 647.76 | 0.27 |
| USD	CANADIAN NATURAL RESOURCES LTD 3.45000% 11-15.11.21 | 98 000.00 | 99 985.59 | 0.16 |
| USD	CCO HOLDINGS LLC/CAPITAL CORP-144A 4.00000% 17-01.03.23 | 100 000.00 | 100 750.00 | 0.16 |
| USD	COMMONWEALTH BANK OF AUSTRALIA-144A 3.45000% 18-16.03.23 | 180 000.00 | 192 078.00 | 0.31 |
| USD	ENLINK MIDSTREAM PARTNERS LP 4.40000% 14-01.04.24 | 50 000.00 | 48 185.00 | 0.08 |
| USD	MEXICO, UNITED STATES OF 4.00000% 13-02.10.23 | 300 000.00 | 326 437.50 | 0.53 |
| Total USD |  | 933 083.85 | 1.51 |
| Total Notes, fixed rate |  | 1 062 054.07 | 1.72 |
| Medium term notes, fixed rate |  |  |  |
| AUD |  |  |  |
| AUD	AUSGRID FINANCE PTY LTD-REG-S 3.75000% 17-30.10.24 | 100 000.00 | 80 591.49 | 0.13 |
| Total AUD |  | 80 591.49 | 0.13 |
| USD |  |  |  |
| USD	NATIONAL RURAL UTILITIES COOP FIN CORP 1.75000% 20-21.01.22 | 300 000.00 | 305 140.59 | 0.49 |
| Total USD |  | 305 140.59 | 0.49 |
| Total Medium term notes, fixed rate |  | 385 732.08 | 0.62 |
| Bonds, fixed rate |  |  |  |
| CAD |  |  |  |
| CAD	ALBERTA, PROVINCE OF 3.40000% 13-01.12.23 | 580 000.00 | 485 680.07 | 0.78 |
| CAD	YORK, REGIONAL MUNICIPALITY OF 4.00000% 11-30.06.21 | 620 000.00 | 488 699.13 | 0.79 |
| Total CAD |  | 974 379.20 | 1.57 |
| USD |  |  |  |
| USD	FIVE CORNERS FUNDING TRUST-144A 4.41900% 13-15.11.23 | 100 000.00 | 111 277.06 | 0.18 |
| Total USD |  | 111 277.06 | 0.18 |
| Total Bonds, fixed rate |  | 1 085 656.26 | 1.75 |
| Bonds, floating rate |  |  |  |
| JPY |  |  |  |
| JPY	JAPAN 0.100%/CPI LINKED 19-10.03.29 | 120 000 000.00 | 1 153 802.66 | 1.87 |
| Total JPY |  | 1 153 802.66 | 1.87 |
| NZD |  |  |  |
| NZD	NEW ZEALAND 2.500%/CPI LINKED 17-20.09.40 | 500 000.00 | 543 714.19 | 0.88 |
| NZD	NEW ZEALAND 3.000%/CPI LINKED 13-20.09.30 | 2 560 000.00 | 2 619 264.76 | 4.23 |
| Total NZD |  | 3 162 978.95 | 5.11 |
| USD |  |  |  |
| USD	PACIFIC GAS AND ELECTRIC CO 3M LIBOR+137.5BP 20-15.11.21 | 155 000.00 | 155 168.29 | 0.25 |
| Total USD |  | 155 168.29 | 0.25 |
| Total Bonds, floating rate |  | 4 471 949.90 | 7.23 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 9 954 070.20 | 16.08 |
| Total investments in securities |  | 58 959 952.24 | 95.25 |
| UBS (Lux) Bond SICAV – Global Short Term Flexible (USD) |  |  |  |
| Semi-Annual Report as of 30 November 2020 |  |  |  |

| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Derivative instruments |  |  |  |
| Derivative instruments listed on an official stock exchange |  |  |  |
| Financial Futures on bonds |  |  |  |
|  |  |  |  |
| EUR	EURO BTP ITALY GOVERMENT FUTURE 08.12.20 | -6.00 | -40 551.18 | -0.07 |
| EUR	EURO-BUND FUTURE 08.12.20 | -5.00 | -6 064.73 | -0.01 |
| EUR	EURO-SCHATZ FUTURE 08.12.20 | 40.00 | 956.96 | 0.00 |
| GBP	LONG GILT FUTURE 29.03.21 | -14.00 | -747.63 | 0.00 |
| CAD	CAN 10YR BOND FUTURE 22.03.21 | -12.00 | -3 889.19 | -0.01 |
| USD	US ULTRA LONG BOND (CBT) FUTURE 22.03.21 | 3.00 | 1 968.75 | 0.00 |
| USD	US 5YR TREASURY NOTE FUTURE 31.03.21 | -17.00 | -2 656.25 | 0.00 |
| USD	US 10YR ULTRA NOTE FUTURE 22.03.21 | 5.00 | 3 125.00 | 0.01 |
| USD	US 10YR TREASURY NOTE FUTURE 22.03.21 | -20.00 | -6 250.00 | -0.01 |
| Total Financial Futures on bonds |  | -54 108.27 | -0.09 |
| Total Derivative instruments listed on an official stock exchange |  | -54 108.27 | -0.09 |
| Derivative instruments not listed on an official stock exchange and not traded on another | regulated market |  |  |
| Swaps and forward swaps on interest rates |  |  |  |
|  |  |  |  |
| JPY	LCH/INTEREST RATE SWAP PAYER 0.79125% 18-20.12.48 | -40 000 000.00 | -50 086.40 | -0.08 |
| JPY	LCH/INTEREST RATE SWAP REC 6ML 18-20.12.48 |  |  |  |
| NZD	LCH/INTEREST RATE SWAP PAYER 1.58300% 24-24.09.29 | -2 500 000.00 | -37 629.92 | -0.06 |
| NZD	LCH/INTEREST RATE SWAP REC 3MF 24-24.09.29 |  |  |  |
| CAD	LCH/INTEREST RATE SWAP PAYER 1.89300% 19-03.12.29 | -2 700 000.00 | -152 070.43 | -0.25 |
| CAD	LCH/INTEREST RATE SWAP REC 3MC 19-03.12.29 |  |  |  |
| GBP	LCH/INTEREST RATE SWAP PAYER 1.14124% 19-13.12.49 | -400 000.00 | -71 288.47 | -0.11 |
| GBP	LCH/INTEREST RATE SWAP REC 6ML 19-13.12.49 |  |  |  |
| PLN	LCH/INTEREST RATE SWAP PAYER 2.11600% 20-23.01.30 | -6 500 000.00 | -189 913.13 | -0.31 |
| PLN	LCH/INTEREST RATE SWAP REC 6MWIB 20-23.01.30 |  |  |  |
| PLN	LCH/INTEREST RATE SWAP PAYER 1.91900% 20-10.02.30 | -6 000 000.00 | -143 656.47 | -0.23 |
| PLN	LCH/INTEREST RATE SWAP REC 6MWIBR 20-10.02.30 |  |  |  |
| PLN	LCH/INTEREST RATE SWAP PAYER 1.66500% 20-27.02.30 | -4 500 000.00 | -77 426.48 | -0.12 |
| PLN	LCH/INTEREST RATE SWAP REC 6MWIBR 20-27.02.30 |  |  |  |
| PLN	LCH/INTEREST RATE SWAP PAYER 1.34000% 20-06.03.30 | -3 000 000.00 | -26 292.55 | -0.04 |
| PLN	LCH/INTEREST RATE SWAP REC 6MWIBR 20-06.03.30 |  |  |  |
| CNY	JPMORGAN/INTEREST RATE SWAP REC 2.84500% 19-04.09.24 | 35 000 000.00 | 27 537.17 | 0.04 |
| CNY	JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 19-04.09.24 |  |  |  |
| CNY	CITI/INTEREST RATE SWAP REC 2.78300% 19-10.09.24 | 15 000 000.00 | 6 025.65 | 0.01 |
| CNY	CITI/INTEREST RATE SWAP PAYER CNRR007 19-10.09.24 |  |  |  |
| CAD	LCH/INTEREST RATE SWAP REC 1.83100% 24-19.09.29 | 2 000 000.00 | 28 488.00 | 0.05 |
| CAD	LCH/INTEREST RATE SWAP PAYER 3MC 24-19.09.29 |  |  |  |
| CAD	LCH/INTEREST RATE SWAP REC 1.68250% 19-02.10.24 | 4 000 000.00 | 119 226.83 | 0.19 |
| CAD	LCH/INTEREST RATE SWAP PAYER 3MC 19-02.10.24 |  |  |  |
| CNY	CITIGROUP/INTEREST RATE SWAP REC 3.03500% 19-23.10.24 | 11 000 000.00 | 19 286.82 | 0.03 |
| CNY	CITIGROUP/INTEREST RATE SWAP PAYER CNRR007 19-23.10.24 |  |  |  |
| CNY	JPMORGAN/INTEREST RATE SWAP REC 3.15750% 19-30.10.24 | 7 000 000.00 | 17 095.20 | 0.03 |
| CNY	JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 19-30.10.24 |  |  |  |
| MXN	CME/INTEREST RATE SWAP REC 6.92500% 19-21.11.29 | 50 000 000.00 | 270 733.34 | 0.44 |
| MXN	CME/INTEREST RATE SWAP PAYER MXI 19-21.11.29 |  |  |  |
| CNY	CITI/INTEREST RATE SWAP REC 2.44500% 20-04.03.25 | 10 000 000.00 | -18 899.36 | -0.03 |
| CNY	CITI/INTEREST RATE SWAP PAYER CNRR007 20-04.03.25 |  |  |  |
| CNY	CITI/INTEREST RATE SWAP REC 2.82000% 20-20.11.25 | 10 000 000.00 | 2 602.18 | 0.00 |
| CNY	CITI/INTEREST RATE SWAP PAYER CNRR007 20-20.11.25 |  |  |  |
| Total Swaps and forward swaps on interest rates |  | -276 268.02 | -0.44 |
| Total Derivative instruments not listed on an official stock exchange and not traded on another regulated market |  | -276 268.02 | -0.44 |
| Total Derivative instruments |  | -330 376.29 | -0.53 |
| Forward Foreign Exchange contracts |  |  |  |
| Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date |  |  |  |

| IDR | 3 727 000 000.00 | USD | 253 021.05 | 4.12.2020 | 10 750.10 | 0.02 |
| --- | --- | --- | --- | --- | --- | --- |
| INR | 18 920 000.00 | USD | 255 323.74 | 4.12.2020 | 166.50 | 0.00 |
| RUB | 55 383 500.00 | USD | 699 922.91 | 4.12.2020 | 24 005.77 | 0.04 |
| USD | 475 668.52 | PHP | 23 000 000.00 | 4.12.2020 | -2 609.68 | 0.00 |
| MYR | 1 170 000.00 | USD | 281 182.41 | 4.12.2020 | 5 975.26 | 0.01 |
| BRL | 1 120 000.00 | USD | 194 941.95 | 4.12.2020 | 12 994.93 | 0.02 |
| COP | 1 913 720 000.00 | USD | 496 941.05 | 4.12.2020 | 36 654.34 | 0.06 |
| USD | 303 137.12 | TWD | 8 600 000.00 | 4.12.2020 | 1 485.93 | 0.00 |
| USD | 958 678.57 | JPY | 100 500 000.00 | 4.12.2020 | -5 131.71 | -0.01 |
| EUR | 400 000.00 | NOK | 4 447 760.00 | 4.12.2020 | -23 705.55 | -0.04 |
| USD | 7 068 238.37 | CAD | 9 300 000.00 | 4.12.2020 | -108 259.75 | -0.17 |
| USD | 8 745 450.25 | EUR | 7 475 000.00 | 4.12.2020 | -196 381.43 | -0.32 |
| USD | 81 941.06 | CHF | 75 000.00 | 4.12.2020 | -906.69 | 0.00 |
| NOK | 13 170 000.00 | USD | 1 395 405.02 | 4.12.2020 | 91 624.68 | 0.15 |
| HUF | 78 850 000.00 | USD | 252 613.11 | 4.12.2020 | 10 054.18 | 0.02 |
| USD | 762 596.69 | THB | 23 680 000.00 | 4.12.2020 | -20 202.45 | -0.03 |
| CZK | 10 900 000.00 | USD | 473 716.76 | 4.12.2020 | 21 963.39 | 0.04 |
| USD | 798 562.50 | SEK | 7 080 000.00 | 4.12.2020 | -29 542.06 | -0.05 |
| USD | 2 073 496.63 | ZAR | 33 490 000.00 | 4.12.2020 | -90 145.99 | -0.15 |
| USD | 344 348.05 | MXN | 7 300 000.00 | 4.12.2020 | -17 768.90 | -0.03 |
| PLN | 1 740 000.00 | USD | 444 458.29 | 4.12.2020 | 19 791.99 | 0.03 |
| USD | 1 595 955.75 | GBP | 1 230 000.00 | 4.12.2020 | -46 168.05 | -0.07 |
| USD | 2 920 251.85 | AUD | 4 105 000.00 | 4.12.2020 | -104 551.61 | -0.17 |
| USD | 8 029 059.42 | NZD | 12 040 000.00 | 4.12.2020 | -432 672.65 | -0.70 |
| NZD | 45 000.00 | USD | 30 031.56 | 4.12.2020 | 1 594.52 | 0.00 |
| GBP | 65 000.00 | USD | 84 450.93 | 4.12.2020 | 2 327.97 | 0.00 |

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

Forward Foreign Exchange contracts (Continued)
Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date
| CAD | 140 000.00 | USD | 106 421.47 | 4.12.2020 | 1 611.84 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| JPY | 6 500 000.00 | USD | 62 273.30 | 4.12.2020 | 62.69 | 0.00 |
| EUR | 35 000.00 | USD | 41 028.30 | 4.12.2020 | 839.81 | 0.00 |
| GBP | 200 000.00 | JPY | 27 161 960.00 | 4.12.2020 | 6 524.59 | 0.01 |
| AUD | 320 000.00 | CHF | 209 369.60 | 4.12.2020 | 4 517.19 | 0.01 |
| BRL | 1 283 630.00 | USD | 230 000.00 | 4.12.2020 | 8 316.08 | 0.01 |
| USD | 230 000.00 | JPY | 23 856 175.00 | 4.12.2020 | 1 215.65 | 0.00 |
| USD | 43 581.24 | AUD | 60 000.00 | 4.12.2020 | -630.26 | 0.00 |
| USD | 74 387.59 | MXN | 1 550 000.00 | 4.12.2020 | -2 500.25 | 0.00 |
| USD | 50 926.00 | ZAR | 780 000.00 | 4.12.2020 | 533.61 | 0.00 |
| INR | 17 052 200.00 | USD | 230 000.00 | 4.12.2020 | 268.01 | 0.00 |
| AUD | 320 000.00 | NZD | 341 648.00 | 4.12.2020 | -4 316.10 | -0.01 |
| USD | 64 934.63 | EUR | 55 000.00 | 4.12.2020 | -858.11 | 0.00 |
| USD | 81 284.87 | PLN | 310 000.00 | 4.12.2020 | -1 426.39 | 0.00 |
| USD | 66 131.80 | GBP | 50 000.00 | 4.12.2020 | -621.20 | 0.00 |
| USD | 43 548.34 | ZAR | 680 000.00 | 4.12.2020 | -383.49 | 0.00 |
| USD | 65 829.95 | GBP | 50 000.00 | 4.12.2020 | -923.05 | 0.00 |
| CAD | 1 925 000.00 | USD | 1 470 063.77 | 4.12.2020 | 15 394.18 | 0.01 |
| USD | 51 115.89 | AUD | 70 000.00 | 4.12.2020 | -464.19 | 0.00 |
| USD | 142 393.68 | EUR | 120 000.00 | 4.12.2020 | -1 154.12 | 0.00 |
| NZD | 245 000.00 | USD | 168 875.56 | 4.12.2020 | 3 310.85 | 0.01 |
| USD | 91 520.06 | NOK | 830 000.00 | 4.12.2020 | -2 195.56 | 0.00 |
| CAD | 293 145.13 | NZD | 325 000.00 | 4.12.2020 | -2 200.27 | 0.00 |
| AUD | 320 000.00 | NZD | 337 562.88 | 4.12.2020 | -1 445.08 | 0.00 |
| EUR | 414 999.37 | CZK | 10 900 000.00 | 4.12.2020 | 755.23 | 0.00 |
| TRY | 838 765.62 | USD | 110 000.00 | 4.12.2020 | -2 809.03 | 0.00 |
| CHF | 205 000.00 | JPY | 23 372 757.00 | 4.12.2020 | 2 302.20 | 0.00 |
| AUD | 42 741 100.00 | USD | 31 472 708.17 | 21.1.2021 | 36 457.17 | 0.06 |
| TRY | 880 550.00 | USD | 110 000.00 | 4.12.2020 | 2 530.85 | 0.00 |
| CHF | 976 300.00 | USD | 1 072 969.16 | 21.1.2021 | 7 530.64 | 0.01 |
| EUR | 20 430 900.00 | USD | 24 321 801.46 | 21.1.2021 | 155 770.00 | 0.25 |
| CAD | 295 000.00 | JPY | 23 619 175.00 | 4.12.2020 | 1 130.11 | 0.00 |
| AUD | 469 500.00 | USD | 345 210.67 | 21.1.2021 | 909.41 | 0.00 |
| USD | 241 039.69 | EUR | 202 700.00 | 21.1.2021 | -1 808.34 | 0.00 |
| USD | 477 713.62 | PHP | 23 000 000.00 | 7.1.2021 | 381.70 | 0.00 |
| PHP | 23 000 000.00 | USD | 478 170.48 | 4.12.2020 | 107.72 | 0.00 |
| MYR | 1 170 000.00 | USD | 287 187.04 | 7.1.2021 | -288.73 | 0.00 |
| USD | 287 257.55 | MYR | 1 170 000.00 | 4.12.2020 | 99.88 | 0.00 |
| USD | 730 653.03 | RUB | 55 383 500.00 | 4.12.2020 | 6 724.35 | 0.01 |
| USD | 302 923.56 | TWD | 8 600 000.00 | 7.1.2021 | 660.10 | 0.00 |
| TWD | 8 600 000.00 | USD | 301 331.46 | 4.12.2020 | 319.73 | 0.00 |
| IDR | 3 727 000 000.00 | USD | 263 001.91 | 7.1.2021 | -699.93 | 0.00 |
| INR | 35 980 000.00 | USD | 485 069.09 | 7.1.2021 | -584.58 | 0.00 |
| USD | 263 578.50 | IDR | 3 727 000 000.00 | 4.12.2020 | -192.65 | 0.00 |
| USD | 486 525.01 | INR | 35 972 200.00 | 4.12.2020 | 766.76 | 0.00 |
| BRL | 2 410 000.00 | USD | 451 226.36 | 7.1.2021 | -3 994.19 | -0.01 |
| USD | 450 328.81 | BRL | 2 403 630.00 | 4.12.2020 | 4 075.85 | 0.01 |
| COP | 1 913 720 000.00 | USD | 529 046.53 | 7.1.2021 | 3 698.27 | 0.01 |
| USD | 529 822.81 | COP | 1 913 720 000.00 | 4.12.2020 | -3 772.58 | -0.01 |
| EUR | 59 100.00 | USD | 70 697.07 | 21.1.2021 | 108.64 | 0.00 |
| RUB | 55 383 500.00 | USD | 728 002.26 | 11.1.2021 | -7 212.06 | -0.01 |
| Total Forward Foreign Exchange contracts | -612 214.01 | -0.99 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 3 910 687.67 | 6.32 |
| Bank overdraft and other short-term liabilities | -607 311.20 | -0.98 |
| Other assets and liabilities | 577 054.53 | 0.93 |
| Total net assets | 61 897 792.94 | 100.00 |

UBS (Lux) Bond SICAV – Global Short Term Flexible (USD) Semi-Annual Report as of 30 November 2020

Translation (ENFR, 2020-11-30):
# UBS (Lux) Bond SICAV
– Global Short Term Flexible (USD)
| Données principales |  |
| --- | --- |
|  | ISIN | 30.11.2020 | 31.5.2020 | 31.5.2019 |
| Actif net en USD |  | 61 897 792.94 | 66 508 516.42 | 39 807 002.63 |
| Catégorie (AUD hedged) F-acc 1 | LU1991162741 |  |  |  |
| Actions en circulation |  | - | - | - |
| Valeur nette d’inventaire par action en AUD |  | - | - | - |
| Prix d’émission et de rachat par action en AUD 2 |  | - | - | - |
| Catégorie (EUR hedged) I-X-acc 3 | LU2073878865 |  |  |  |
| Actions en circulation |  | - | 54 754.0000 | - |
| Valeur nette d’inventaire par action en EUR |  | - | 99.75 | - |
| Prix d’émission et de rachat par action en EUR 2 |  | - | 99.75 | - |
| Catégorie (EUR hedged) K-1-acc | LU0719382987 |  |  |  |
| Actions en circulation |  | 1.1000 | 1.1000 | 1.1000 |
| Valeur nette d’inventaire par action en EUR |  | 3 123 428.62 | 3 051 254.40 | 3 053 138.47 |
| Prix d’émission et de rachat par action en EUR 2 |  | 3 130 300.16 | 3 051 254.40 | 3 053 138.47 |
| Catégorie P-acc | LU0659916679 |  |  |  |
| Actions en circulation |  | 32 232.1700 | 31 664.1040 | 64 046.8510 |
| Valeur nette d’inventaire par action en USD |  | 88.99 | 86.64 | 84.74 |
| Prix d’émission et de rachat par action en USD 2 |  | 89.19 | 86.64 | 84.74 |
| Catégorie (AUD hedged) P-acc 4 | LU1991167542 |  |  |  |
| Actions en circulation |  | 389 076.9980 | 412 627.7010 | - |
| Valeur nette d’inventaire par action en AUD |  | 103.39 | 100.93 | - |
| Prix d’émission et de rachat par action en AUD 2 |  | 103.62 | 100.93 | - |
| Catégorie (CHF hedged) P-acc | LU0726085425 |  |  |  |
| Actions en circulation |  | 11 020.5950 | 11 960.1580 | 13 493.3710 |
| Valeur nette d’inventaire par action en CHF |  | 90.30 | 88.46 | 89.22 |
| Prix d’émission et de rachat par action en CHF 2 |  | 90.50 | 88.46 | 89.22 |
| Catégorie (EUR hedged) P-acc | LU0706127809 |  |  |  |
| Actions en circulation |  | 153 769.8410 | 176 193.1270 | 221 918.0080 |
| Valeur nette d’inventaire par action en EUR |  | 102.17 | 100.00 | 100.42 |
| Prix d’émission et de rachat par action en EUR 2 |  | 102.39 | 100.00 | 100.42 |
| Catégorie P-dist | LU0659904402 |  |  |  |
| Actions en circulation |  | 10 656.9820 | 11 407.0280 | 11 107.4500 |
| Valeur nette d’inventaire par action en USD |  | 74.24 | 73.47 | 73.13 |
| Prix d’émission et de rachat par action en USD 2 |  | 74.40 | 73.47 | 73.13 |
| Catégorie (EUR hedged) P-dist 5 | LU2251373150 |  |  |  |
| Actions en circulation |  | 100.0000 | - | - |
| Valeur nette d’inventaire par action en EUR |  | 100.74 | - | - |
| Prix d’émission et de rachat par action en EUR 2 |  | 100.96 | - | - |
| Catégorie (AUD hedged) Q-acc 4 | LU1991167898 |  |  |  |
| Actions en circulation |  | 34 466.9610 | 41 960.3070 | - |
| Valeur nette d’inventaire par action en AUD |  | 103.89 | 101.25 | - |
| Prix d’émission et de rachat par action en AUD 2 |  | 104.12 | 101.25 | - |
| Catégorie (EUR hedged) Q-acc | LU0718864688 |  |  |  |
| Actions en circulation | 15 554.9030 | 17 198.9220 | 33 321.5820 |
| Valeur nette d’inventaire par action en EUR | 104.49 | 102.10 | 102.18 |
| Prix d’émission et de rachat par action en EUR 2 | 104.72 | 102.10 | 102.18 |
| 1  La catégorie d’actions (AUD hedged) F-acc était en circulation pour la période allant du 14.6.2019 au 19.6.2019 2  Voir note 1 3  La catégorie d’actions (EUR hedged) I-X-acc était en circulation pour la période allant du 13.11.2019 au 16.11.2020 4  Première VNI 14.6.2019 5  Première VNI 5.11.2020 |  |  |  |

UBS (Lux) Bond SICAV – Global Short Term Flexible (USD) Rapport semestriel au 30 novembre 2020

## Structure du portefeuille-titres
Répartition géographique en % de l’actif net	
Etats-Unis	36.40
Nouvelle-Zélande	10.69
Canada	7.76
Afrique du Sud	4.22
Grande-Bretagne	3.40
Espagne	3.20
Japon	3.02
Chine	2.53
France	2.26
Mexique	1.98
Italie	1.76
Pays-Bas	1.47
Australie	1.38
Roumanie	1.28
Allemagne	1.24
Arabie saoudite	1.00
Kazakhstan	0.93
Ukraine	0.88
Supranationaux	0.73
Singapour	0.65
Irlande	0.65
Guatemala	0.53
Chili	0.50
Ghana	0.49
Suède	0.43
Luxembourg	0.41
Norvège	0.39
Mongolie	0.37
Nigéria	0.36
Uruguay	0.35
Kenya	0.35
Îles Vierges britanniques	0.34
Iles Caïmans	0.34
Indonésie	0.33
Brésil	0.33
Hong Kong	0.33
Colombie	0.33
Thaïlande	0.32
Oman	0.32
Costa Rica	0.30
Pologne	0.29
Sri Lanka	0.21
Danemark	0.20
Répartition économique en % de l’actif net	
Gouvernements nationaux et centraux	58.72
Banques & instituts de crédit	9.32
Etablissements financiers et sociétés de participation	6.61
Emetteurs d’obligations sécurisées (Pfandbriefe) et
sociétés de refinancement	3.96
Télécommunications	2.58
Cantons, Etats fédéraux	2.14
Distribution d’énergie & d’eau	1.55
Pétrole	1.54
Equipement informatique et de réseau	1.48
Soins de santé & services sociaux	0.85
Diverses sociétés non classées	0.81
Villes, communes	0.79
Produits pharmaceutiques, cosmétiques & médicaux	0.76
Organisations supranationales	0.73
Assurances	0.73
Textiles, habillement & maroquinerie	0.58
Internet, logiciels et services informatiques	0.46
Trafic et transport	0.40
Tabac et boissons alcoolisées	0.40
Chimie	0.33
Bâtiment et matériaux de construction	0.22
Services divers	0.21
Industrie aéronautique et spatiale	0.08
Total	95.25
Total	95.25
UBS (Lux) Bond SICAV – Global Short Term Flexible (USD) Rapport semestriel au 30 novembre 2020

## Etat des actifs nets
Actif	30.11.2020
USD
Portefeuille-titres, cours d’achat	57 284 800.88
| Portefeuille-titres, plus-/(moins)-value non réalisée | 	1 675 151.36	 |
| --- | --- |
| Total du Portefeuille-titres (note 1) | 58 959 952.24 |
| Avoirs en banque, dépôts à vue et à terme | 2 810 668.73 |
| Autres liquidités (marges) | 1 100 018.94 |
| Créances sur souscriptions | 95 091.19 |
| Intérêts à recevoir sur titres | 466 970.06 |
| Intérêts à recevoir sur liquidités | 5 498.90 |
| Autres créances | 59 207.82 |
| Total de l’Actif | 63 497 407.88 |
|  |  |
| Passif |  |
| Perte non réalisé(e) sur contrats financiers à terme (note 1) | -54 108.27 |
| Perte non réalisé(e) sur contrats de change à terme (note 1) | -612 214.01 |
| Perte non réalisé(e) sur swaps (note 1) | -276 268.02 |
| Crédit en compte courant | -607 311.20 |
| Engagements sur achats de titres (note 1) | -105.20 |
| Engagements sur rachats | -20 709.04 |
| Provisions pour commission de gestion forfaitaire (note 2) | -20 763.85 |
| Provisions pour taxe d’abonnement (note 3) | -5 131.46 |
| Provisions pour autres commissions et frais (note 2) | 	-3 003.89	 |
| Total des Provisions pour frais | -28 899.20 |
| Total du Passif | -1 599 614.94 |
|  |  |
| Actif net à la fin de la période | 61 897 792.94 |
| Etat des opérations | USD |
| Revenus | 1.6.2020-30.11.2020 |
| Revenus d’intérêts sur liquidités | 7 289.43 |
| Intérêts sur titres | 877 561.15 |
| Revenus d’intérêts sur swaps (note 1) | 351 379.08 |
| Revenus sur prêts de titres (note 12) | 13 947.68 |
| Autres revenus (note 4) | 7 363.70 |
| Total des Revenus | 1 257 541.04 |
|  |  |
| Charges |  |
| Charges d’intérêts sur swaps (note 1) | -220 952.37 |
| Commission de gestion forfaitaire (note 2) | -256 787.29 |
| Taxe d’abonnement (note 3) | -16 055.85 |
| Frais sur prêts de titres (note 12) | -5 579.07 |
| Autres commissions et frais (note 2) | -2 963.51 |
| Charges d’intérêts sur liquidités et crédit en compte courant | -929.11 |
| Total des Charges | -503 267.20 |
|  |  |
| Revenus/pertes net(te)s de placements | 754 273.84 |
|  |  |
| Bénéfices/(pertes) réalisé(e)s (note 1) |  |
| Bénéfice/(perte) réalisé(e) sur titres évalués à la valeur de marché hors options | 918 954.03 |
| Bénéfice/(perte) réalisé(e) sur instruments du marché monétaire et titres évalués en fonction des rendements | -1 719.31 |
| Bénéfice/perte réalisé(e) sur contrats financiers à terme | -1 932.28 |
| Bénéfice/(perte) réalisé(e) sur contrats de change à terme | 3 918 416.57 |
| Bénéfice/(perte) réalisé(e) sur swaps | 789 469.52 |
| Bénéfice/(perte) de change réalisé(e) | 597 848.54 |
| Total des Bénéfices/(pertes) réalisé(e)s | 6 221 037.07 |
|  |  |
| Bénéfice/(perte) net(te) réalisé(e) au cours de la période | 6 975 310.91 |
|  |  |
| Fluctuations de la plus-/(moins)-value non réalisée (note 1) |  |
| Plus-/(moins)-value non réalisée sur titres évalués à la valeur de marché hors options | 2 832 223.21 |
| Plus-/(moins)-value non réalisée sur instruments du marché monétaire et titres évalués en fonction des rendements | -1 703.33 |
| Plus-/(moins)-value non réalisée sur contrats financiers à terme | -45 120.04 |
| Plus-/(moins)-value non réalisée sur contrats de change à terme | -1 761 836.99 |
| Plus-/(moins)-value non réalisée sur swaps | -824 037.76 |
| Total des Fluctuations de la plus-/(moins)-value non réalisée | 199 525.09 |
|  |  |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | 7 174 836.00 |

UBS (Lux) Bond SICAV – Global Short Term Flexible (USD) Rapport semestriel au 30 novembre 2020
| Fluctuations de l’actif net |  |
| --- | --- |
|  |  | USD |
|  |  | 1.6.2020-30.11.2020 |
| Actif net au début de la période |  | 66 508 516.42 |
| Souscriptions |  | 1 190 754.90 |
| Rachats |  | 	-12 962 625.95	 |
| Total des Entrées/(sorties) de capitaux |  | -11 771 871.05 |
| Dividendes versés |  | -13 688.43 |
| Revenus/pertes net(te)s de placements |  | 754 273.84 |
| Total des Bénéfices/(pertes) réalisé(e)s |  | 6 221 037.07 |
| Total des Fluctuations de la plus-/(moins)-value non réalisée |  | 	199 525.09	 |
| Augmentation/(diminution) nette de l’actif net issue de l’activité |  | 7 174 836.00 |
| Actif net à la fin de la période |  | 61 897 792.94 |
| Evolution des actions en circulation |  |  |
|  |  | 1.6.2020-30.11.2020 |
| Catégorie |  | (EUR hedged) I-X-acc |
| Nombre d’actions en circulation au début de la période |  | 54 754.0000 |
| Nombre d’actions émises |  | 0.0000 |
| Nombre d’actions rachetées |  | -54 754.0000 |
| Nombre d’actions en circulation à la fin de la période |  | 0.0000 |
| Catégorie |  | (EUR hedged) K-1-acc |
| Nombre d’actions en circulation au début de la période |  | 1.1000 |
| Nombre d’actions émises |  | 0.0000 |
| Nombre d’actions rachetées |  | 0.0000 |
| Nombre d’actions en circulation à la fin de la période |  | 1.1000 |
| Catégorie |  | P-acc |
| Nombre d’actions en circulation au début de la période |  | 31 664.1040 |
| Nombre d’actions émises |  | 847.0070 |
| Nombre d’actions rachetées |  | -278.9410 |
| Nombre d’actions en circulation à la fin de la période |  | 32 232.1700 |
| Catégorie |  | (AUD hedged) P-acc |
| Nombre d’actions en circulation au début de la période |  | 412 627.7010 |
| Nombre d’actions émises |  | 7 546.0980 |
| Nombre d’actions rachetées |  | -31 096.8010 |
| Nombre d’actions en circulation à la fin de la période |  | 389 076.9980 |
| Catégorie |  | (CHF hedged) P-acc |
| Nombre d’actions en circulation au début de la période |  | 11 960.1580 |
| Nombre d’actions émises |  | 62.3380 |
| Nombre d’actions rachetées |  | -1 001.9010 |
| Nombre d’actions en circulation à la fin de la période |  | 11 020.5950 |
| Catégorie |  | (EUR hedged) P-acc |
| Nombre d’actions en circulation au début de la période |  | 176 193.1270 |
| Nombre d’actions émises |  | 4 511.7580 |
| Nombre d’actions rachetées |  | -26 935.0440 |
| Nombre d’actions en circulation à la fin de la période |  | 153 769.8410 |
| Catégorie |  | P-dist |
| Nombre d’actions en circulation au début de la période |  | 11 407.0280 |
| Nombre d’actions émises |  | 1.1980 |
| Nombre d’actions rachetées |  | -751.2440 |
| Nombre d’actions en circulation à la fin de la période |  | 10 656.9820 |
| Catégorie |  | (EUR hedged) P-dist |
| Nombre d’actions en circulation au début de la période |  | 0.0000 |
| Nombre d’actions émises |  | 100.0000 |
| Nombre d’actions rachetées |  | 0.0000 |
| Nombre d’actions en circulation à la fin de la période |  | 100.0000 |
| Catégorie |  | (AUD hedged) Q-acc |
| Nombre d’actions en circulation au début de la période |  | 41 960.3070 |
| Nombre d’actions émises |  | 0.0000 |
| Nombre d’actions rachetées |  | -7 493.3460 |
| Nombre d’actions en circulation à la fin de la période |  | 34 466.9610 |
| Catégorie |  | (EUR hedged) Q-acc |
| Nombre d’actions en circulation au début de la période |  | 17 198.9220 |
| Nombre d’actions émises |  | 11.9020 |
| Nombre d’actions rachetées |  | -1 655.9210 |
| Nombre d’actions en circulation à la fin de la période |  | 15 554.9030 |
| Distribution annuelle 1 |  |  |
| UBS (Lux) Bond SICAV – Global Short Term Flexible (USD)	Date de détachement | Date de versement | Devise	Montant par action |
| P-dist	3.8.2020 | 6.8.2020 | USD	1.20 |
| 1  Voir note 5 |  |  |

UBS (Lux) Bond SICAV – Global Short Term Flexible (USD) Rapport semestriel au 30 novembre 2020

## Etat du portefeuille-titres et autres actifs nets au 30 novembre 2020
| Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
| Titres et instruments du marché monétaire négociés sur une bourse officielle |  |  |  |
| Billets, taux fixe |  |  |  |
| AUD |  |  |  |
| AUD	AT&T INC 3.45000% 18-19.09.23 | 1 000 000.00 | 791 435.85 | 1.27 |
| Total AUD |  | 791 435.85 | 1.27 |
| CAD |  |  |  |
| CAD	BRITISH COLUMBIA, PROVINCE OF 3.30000% 13-18.12.23 | 1 000 000.00 | 837 217.38 | 1.35 |
| Total CAD |  | 837 217.38 | 1.35 |
| EUR |  |  |  |
| EUR	ALTICE FRANCE-REG-S 5.87500% 18-01.02.27 | 100 000.00 | 127 544.83 | 0.21 |
| EUR	BNG BANK NV-REG-S 0.05000% 20-02.04.25 | 520 000.00 | 636 833.14 | 1.03 |
| EUR	FINANCIAL & RISK US HOLDINGS INC-REG-S 6.87500% 18-15.11.26 | 100 000.00 | 128 890.55 | 0.21 |
| EUR	MERCK & CO INC 1.12500% 14-15.10.21 | 100 000.00 | 120 722.89 | 0.20 |
| EUR	PHILIP MORRIS INTERNATIONAL INC 2.87500% 12-30.05.24 | 100 000.00 | 132 075.31 | 0.21 |
| EUR	SOFTBANK GROUP CORP-REG-S 5.00000% 18-15.04.28 | 100 000.00 | 130 617.87 | 0.21 |
| EUR	UKRAINE, GOVERNMENT OF-REG-S 4.37500% 20-27.01.30 | 300 000.00 | 335 534.10 | 0.54 |
| EUR	UNILABS SUBHOLDING AB-REG-S 5.75000% 17-15.05.25 | 100 000.00 | 122 730.12 | 0.20 |
| Total EUR |  | 1 734 948.81 | 2.81 |
| GBP |  |  |  |
| GBP	TRAVIS PERKINS PLC-REG-S 3.75000% 20-17.02.26 | 100 000.00 | 137 517.68 | 0.22 |
| Total GBP |  | 137 517.68 | 0.22 |
| USD |  |  |  |
| USD	ADOBE INC 1.70000% 20-01.02.23 | 150 000.00 | 154 686.94 | 0.25 |
| USD	AECOM TECHNOLOGY CORP 5.87500% 15-15.10.24 | 50 000.00 | 55 500.00 | 0.09 |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 4.50000% 20-15.09.23 | 150 000.00 | 160 614.33 | 0.26 |
| USD	ALTRIA GROUP INC 4.40000% 19-14.02.26 | 100 000.00 | 115 831.27 | 0.19 |
| USD	AMBER CIRCLE FUNDING LTD-REG-S 3.25000% 12-04.12.22 | 200 000.00 | 207 812.50 | 0.34 |
| USD	AMERICAN EXPRESS CO 3.40000% 18-27.02.23 | 100 000.00 | 106 415.40 | 0.17 |
| USD	APPLE INC 1.80000% 19-11.09.24 | 100 000.00 | 104 624.94 | 0.17 |
| USD	BERKSHIRE HATHAWAY ENERGY CO 2.80000% 18-15.01.23 | 100 000.00 | 104 938.70 | 0.17 |
| USD	BRAZIL, FEDERATIVE REPUBLIC OF 2.62500% 12-05.01.23 | 200 000.00 | 207 312.50 | 0.33 |
| USD	BRISTOL-MYERS SQUIBB CO 2.60000% 20-16.05.22 | 100 000.00 | 103 375.32 | 0.17 |
| USD	CHEVRON CORP 1.14100% 20-11.05.23 | 160 000.00 | 163 217.01 | 0.26 |
| USD	CHILE, REPUBLIC OF 2.25000% 12-30.10.22 | 300 000.00 | 309 375.00 | 0.50 |
| USD	CIGNA CORP 3.40000% 19-17.09.21 | 100 000.00 | 102 410.58 | 0.17 |
| USD	CITIGROUP INC 2.75000% 17-25.04.22 | 150 000.00 | 154 644.00 | 0.25 |
| USD	CNOOC FINANCE 2012 LTD-REG-S 3.87500% 12-02.05.22 | 200 000.00 | 207 937.50 | 0.34 |
| USD	CNPC HK OVERSEAS CAPITAL LTD-REG-S 4.50000% 11-28.04.21 | 270 000.00 | 273 859.35 | 0.44 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 4.25000% 12-26.01.23 | 200 000.00 | 188 437.50 | 0.30 |
| USD	CVS HEALTH CORP 2.62500% 19-15.08.24 | 90 000.00 | 96 326.51 | 0.16 |
| USD	DIAGEO CAPITAL PLC 2.12500% 19-24.10.24 | 200 000.00 | 211 218.52 | 0.34 |
| USD	DOMINION ENERGY INC 2.00000% 16-15.08.21 | 70 000.00 | 70 701.77 | 0.11 |
| USD	ENERGY TRANSFER OPERATING LP 4.50000% 19-15.04.24 | 100 000.00 | 107 800.70 | 0.17 |
| USD	EXELON CORP 2.45000% 16-15.04.21 | 140 000.00 | 140 923.50 | 0.23 |
| USD	EXXON MOBIL CORP 1.90200% 19-16.08.22 | 120 000.00 | 123 487.81 | 0.20 |
| USD	GHANA GOVT INTNL BOND-REG-S 6.37500% 20-11.02.27 | 300 000.00 | 301 218.75 | 0.49 |
| USD	GOLDMAN SACHS GROUP INC 3.50000% 20-01.04.25 | 150 000.00 | 166 024.72 | 0.27 |
| USD	GUATEMALA, REPUBLIC OF-REG-S 4.37500% 17-05.06.27 | 300 000.00 | 328 781.25 | 0.53 |
| USD	HONEYWELL INTERNATIONAL INC 2.15000% 19-08.08.22 | 50 000.00 | 51 530.90 | 0.08 |
| USD	HSBC BANK PLC-144A 4.75000% 11-19.01.21 | 190 000.00 | 191 073.16 | 0.31 |
| USD	INDONESIA, REPUBLIC OF-REG-S 3.75000% 12-25.04.22 | 200 000.00 | 207 437.50 | 0.33 |
| USD	INTERNATIONAL BUSINESS MACHINES CORP 2.85000% 19-13.05.22 | 350 000.00 | 363 097.21 | 0.59 |
| USD	KENYA, REPUBLIC OF-REG-S 6.87500% 14-24.06.24 | 200 000.00 | 216 312.50 | 0.35 |
| USD	KINDER MORGAN INC 3.15000% 17-15.01.23 | 100 000.00 | 104 999.18 | 0.17 |
| USD	MORGAN STANLEY 2.50000% 16-21.04.21 | 230 000.00 | 231 920.57 | 0.37 |
| USD	NIGERIA, FEDERAL REPUBLIC OF-REG-S 7.62500% 18-21.11.25 | 200 000.00 | 225 312.50 | 0.36 |
| USD	OMAN GOVT INTERNATIONAL BOND-REG-S 4.12500% 18-17.01.23 | 200 000.00 | 199 437.50 | 0.32 |
| USD	ONCOR ELECTRIC DELIVERY CO 2.75000% 19-01.06.24 | 110 000.00 | 117 936.87 | 0.19 |
| USD	SAUDI ARABIAN OIL CO-REG-S 1.62500% 20-24.11.25 | 200 000.00 | 203 602.00 | 0.33 |
| USD	SOUTH AFRICA, REPUBLIC OF 5.87500% 07-30.05.22 | 400 000.00 | 425 375.00 | 0.69 |
| USD	SOUTHWEST AIRLINES CO 4.75000% 20-04.05.23 | 100 000.00 | 108 455.26 | 0.18 |
| USD	SOUTHWESTERN ELECTRIC POWER 3.55000% 12-15.02.22 | 130 000.00 | 133 704.07 | 0.22 |
| USD	SPRINT CORP 7.87500% 14-15.09.23 | 50 000.00 | 57 667.29 | 0.09 |
| USD	SRI LANKA, DEMOCRATIC REP OF-REG-S 6.85000% 19-14.03.24 | 200 000.00 | 127 750.00 | 0.21 |
| USD	TEVA PHARMACEUTICAL FINANCE NL III BV 2.20000% 16-21.07.21 | 26 000.00 | 25 910.62 | 0.04 |
| USD	TRUIST FINANCIAL CORP 2.70000% 16-27.01.22 | 50 000.00 | 51 289.35 | 0.08 |
| USD	UKRAINE, GOVERNMENT OF-REG-S 7.75000% 15-01.09.21 | 200 000.00 | 207 200.00 | 0.33 |
| USD	URUGUAY, REPUBLIC OF 4.50000% 13-14.08.24 | 200 000.00 | 219 562.50 | 0.35 |
| USD	WALT DISNEY CO 1.75000% 19-30.08.24 | 100 000.00 | 103 615.79 | 0.17 |
| USD	WESTPAC BANKING CORP 2.80000% 17-11.01.22 | 100 000.00 | 102 709.00 | 0.17 |
| USD	WESTPAC BANKING CORP 2.00000% 20-13.01.23 | 75 000.00 | 77 686.35 | 0.13 |
| USD	XCEL ENERGY INC 2.40000% 16-15.03.21 | 130 000.00 | 130 542.95 | 0.21 |
| Total USD |  | 8 151 604.44 | 13.17 |
| Total des Billets, taux fixe |  | 11 652 724.16 | 18.82 |
| Billets, taux variable |  |  |  |
| USD |  |  |  |
| USD	ALLIANZ SE-REG-S-SUB 3.500%/VAR 20-PRP | 200 000.00 | 202 100.00 | 0.32 |
| Total USD |  | 202 100.00 | 0.32 |
| Total des Billets, taux variable |  | 202 100.00 | 0.32 |

UBS (Lux) Bond SICAV – Global Short Term Flexible (USD) Rapport semestriel au 30 novembre 2020
| Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
| Medium-Term Notes, taux fixe |  |  |  |
| AUD |  |  |  |
| AUD	APPLE INC-REG-S 3.70000% 15-28.08.22 | 500 000.00 | 390 405.23 | 0.63 |
| AUD	GENERAL MOTORS FINANCIAL CO INC 3.85000% 19-21.02.23 | 500 000.00 | 385 343.07 | 0.62 |
| AUD	LLOYDS BANKING GROUP 3.65000% 17-20.03.23 | 500 000.00 | 389 145.22 | 0.63 |
| AUD	VERIZON COMMUNICATIONS INC 3.50000% 17-17.02.23 | 500 000.00 | 391 867.88 | 0.63 |
| AUD	WESTPAC BANKING CORP 3.25000% 18-16.11.23 | 500 000.00 | 400 010.08 | 0.65 |
| Total AUD |  | 1 956 771.48 | 3.16 |
| EUR |  |  |  |
| EUR	BAT INTERNATIONAL FINANCE PLC-REG-S 0.87500% 15-13.10.23 | 100 000.00 | 122 370.54 | 0.20 |
| EUR	BNP PARIBAS-REG-S 1.12500% 18-22.11.23 | 100 000.00 | 123 942.83 | 0.20 |
| EUR	COMMERZBANK AG-REG-S 0.50000% 18-28.08.23 | 30 000.00 | 36 550.25 | 0.06 |
| EUR	DANSKE BANK AS-REG-S 1.37500% 19-24.05.22 | 100 000.00 | 122 307.62 | 0.20 |
| EUR	DEUTSCHE BANK AG-REG-S 1.12500% 18-30.08.23 | 50 000.00 | 61 861.48 | 0.10 |
| EUR	DNB BANK ASA-REG-S 0.05000% 19-14.11.23 | 200 000.00 | 241 231.91 | 0.39 |
| EUR	EDP FINANCE BV-REG-S 2.37500% 16-23.03.23 | 100 000.00 | 126 724.47 | 0.20 |
| EUR	KREDITANSTALT FUER WIEDERAUFBAU-REG-S 0.01000% 20-31.03.25 | 280 000.00 | 344 314.21 | 0.56 |
| EUR	ROMANIA-REG-S 4.62500% 19-03.04.49 | 300 000.00 | 469 433.73 | 0.76 |
| EUR	SPAIN, KINGDOM OF 0.45000% 17-31.10.22 | 700 000.00 | 854 123.64 | 1.38 |
| EUR	STANDARD CHARTERED PLC-REG-S 1.62500% 14-13.06.21 | 100 000.00 | 120 851.61 | 0.20 |
| Total EUR |  | 2 623 712.29 | 4.25 |
| GBP |  |  |  |
| GBP	AUTOSTRADE PER L’ITALIA SPA 6.25000% 04-09.06.22 | 100 000.00 | 141 115.32 | 0.23 |
| GBP	CHINA DEVELOPMENT BANK-REG-S 1.25000% 20-21.01.23 | 100 000.00 | 134 594.40 | 0.21 |
| GBP	PHOENIX GROUP HOLDINGS PLC-REG-S-SUB 4.12500% 17-20.07.22 | 200 000.00 | 277 856.19 | 0.45 |
| Total GBP |  | 553 565.91 | 0.89 |
| NZD |  |  |  |
| NZD	INTL BK FOR RECONSTR & DEVT WORLD BANK 3.50000% 16-22.01.21 | 640 000.00 | 451 847.54 | 0.73 |
| Total NZD |  | 451 847.54 | 0.73 |
| USD |  |  |  |
| USD	EXPORT IMPORT BANK OF THAILAND-REG-S 1.45700% 20-15.10.25 | 200 000.00 | 200 763.34 | 0.32 |
| USD	KAZAKHSTAN, REPUBLIC OF-REG-S 5.12500% 15-21.07.25 | 300 000.00 | 352 950.00 | 0.57 |
| USD	MONGOLIA,GOVERNMENT OF-REG-S 8.75000% 17-09.03.24 | 200 000.00 | 231 000.00 | 0.37 |
| USD	ROMANIA-REG-S 6.75000% 12-07.02.22 | 300 000.00 | 321 093.75 | 0.52 |
| USD	SAUDI ARABIAN OIL CO-REG-S 2.87500% 19-16.04.24 | 200 000.00 | 211 250.00 | 0.34 |
| USD	SAUDI GOVERNMENT INTERNATIONAL BD-REG-S 2.37500% 16-26.10.21 | 200 000.00 | 202 900.00 | 0.33 |
| USD	SWEDEN, KINGDOM OF-REG-S 0.75000% 20-30.03.22 | 130 000.00 | 130 911.30 | 0.21 |
| USD	UNITED OVERSEAS BANK LTD-REG-S 3.20000% 18-23.04.21 | 200 000.00 | 201 930.00 | 0.33 |
| Total USD |  | 1 852 798.39 | 2.99 |
| Total des Medium-Term Notes, taux fixe |  | 7 438 695.61 | 12.02 |
| Medium-Term Notes, coupon zéro |  |  |  |
| EUR |  |  |  |
| EUR	LVMH MOET HENNESSY LOUIS VUITTON-REG-S 0.00000% 20-11.02.24 | 300 000.00 | 361 458.86 | 0.58 |
| EUR	POLAND, REPUBLIC OF-REG-S 0.00000% 20-10.02.25 | 150 000.00 | 181 112.16 | 0.29 |
| EUR	SIEMENS FINANCIERINGSMAATSCH NV-REG-S 0.00000% 20-20.02.23 | 100 000.00 | 120 389.87 | 0.20 |
| Total EUR |  | 662 960.89 | 1.07 |
| Total des Medium-Term Notes, coupon zéro |  | 662 960.89 | 1.07 |
| Medium-Term Notes, taux variable |  |  |  |
| EUR |  |  |  |
| EUR	ALLIED IRISH BANKS PLC-REG-S-SUB 7.375%/VAR 15-PRP | 200 000.00 | 239 240.00 | 0.39 |
| EUR	DEUTSCHE BANK AG-REG-S 1.000%/VAR 20-19.11.25 | 100 000.00 | 120 758.79 | 0.19 |
| Total EUR |  | 359 998.79 | 0.58 |
| GBP |  |  |  |
| GBP	IMPERIAL BRANDS FIN-REG-S 9.000%/RATING LINKED 09-17.02.22 | 150 000.00 | 220 476.30 | 0.36 |
| Total GBP |  | 220 476.30 | 0.36 |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 2.816%/VAR 17-21.07.23 | 200 000.00 | 207 539.32 | 0.33 |
| USD	DBS GROUP HOLDINGS LTD-REG-S-SUB 3.600%/VAR 16-PRP | 200 000.00 | 201 638.00 | 0.33 |
| Total USD |  | 409 177.32 | 0.66 |
| Total des Medium-Term Notes, taux variable |  | 989 652.41 | 1.60 |
| Obligations, taux fixe |  |  |  |
| AUD |  |  |  |
| AUD	SUMITOMO MITSUI FIN GP INC 3.66200% 17-29.03.22 | 500 000.00 | 382 812.00 | 0.62 |
| Total AUD |  | 382 812.00 | 0.62 |
| CAD |  |  |  |
| CAD	CANADA, GOVERNMENT 1.00000% 17-01.09.22 | 3 700 000.00 | 2 893 132.18 | 4.67 |
| Total CAD |  | 2 893 132.18 | 4.67 |
| CNY |  |  |  |
| CNY	CHINA DEVELOPMENT BANK CORP 3.80000% 16-25.01.36 | 5 000 000.00 | 745 078.53 | 1.20 |
| Total CNY |  | 745 078.53 | 1.20 |

UBS (Lux) Bond SICAV – Global Short Term Flexible (USD) Rapport semestriel au 30 novembre 2020
|  | Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
| EUR |  |  |  |  |
| EUR | INTRUM JUSTITIA AB-REG-S 2.75000% 17-15.07.22 | 100 000.00 | 11 961.09 | 0.02 |
| EUR | ITALY, REPUBLIC OF-BTP-144A-REG-S 3.250% 14-01.09.46 | 100 000.00 | 167 640.25 | 0.27 |
| EUR | ITALY, REPUBLIC OF-BTP 1.60000% 16-01.06.26 | 600 000.00 | 778 322.91 | 1.26 |
| EUR | MPT OPERATING PARTNERSHIP LP/FIN CORP 3.32500% 17-24.03.25 | 100 000.00 | 126 712.03 | 0.20 |
| EUR | SPAIN, KINGDOM OF-144A-REG-S 4.40000% 13-31.10.23 | 400 000.00 | 548 206.98 | 0.89 |
| EUR | SPAIN, KINGDOM OF-144A-REG-S 2.15000%15-31.10.25 | 430 000.00 | 580 101.98 | 0.94 |
| Total EUR |  |  | 2 212 945.24 | 3.58 |
| GBP |  |  |  |  |
| GBP | BUPA FINANCE PLC-REG-S-SUB 5.00000% 13-25.04.23 | 200 000.00 | 289 709.59 | 0.47 |
| GBP | SCOTTISH WIDOWS PLC-REG-S-SUB 5.50000% 13-16.06.23 | 100 000.00 | 147 238.57 | 0.24 |
| Total GBP |  |  | 436 948.16 | 0.71 |
| MXN |  |  |  |  |
| MXN | MEXICO, UNITED MEXICAN STATES 7.75000% 11-13.11.42 | 136 000.00 | 746 422.85 | 1.21 |
| Total MXN |  | 746 422.85 | 1.21 |
| NZD |  |  |  |  |
| NZD | NEW ZEALAND LOC GOV FUNDING AGENCY 6.00000% 13-15.05.21 | 240 000.00 | 173 035.55 | 0.28 |
| Total NZD |  |  | 173 035.55 | 0.28 |
| USD |  |  |  |  |
| USD | CHINA, PEOPLE’S REPUBLIC OF-REG-S 1.87500% 19-03.12.22 | 400 000.00 | 412 250.00 | 0.67 |
| USD | CNAC HK FINBRIDGE CO LTD-REG-S 4.62500% 18-14.03.23 | 200 000.00 | 206 562.50 | 0.33 |
| USD | COLOMBIA, REPUBLIC OF 4.37500% 11-12.07.21 | 200 000.00 | 204 937.50 | 0.33 |
| USD | ENTERPRISE PRODUCTS OPERATING LLC 2.80000% 18-15.02.21 | 100 000.00 | 100 501.89 | 0.16 |
| USD | HCA INC 5.37500% 15-01.02.25 | 100 000.00 | 111 953.00 | 0.18 |
| USD | JAPAN BANK FOR INTL COOPERATION 0.62500% 20-22.05.23 | 200 000.00 | 201 026.00 | 0.33 |
| USD | KAZAKHSTAN, REPUBLIC OF-REG-S 3.87500% 14-14.10.24 | 200 000.00 | 221 000.00 | 0.36 |
| USD | PETROLEOS MEXICANOS 5.50000% 10-21.01.21 | 150 000.00 | 150 515.62 | 0.24 |
| Total USD |  |  | 1 608 746.51 | 2.60 |
| ZAR |  |  |  |  |
| ZAR | SOUTH AFRICA, REPUBLIC OF 8.75000% 12-28.02.48 | 24 000 000.00 | 1 240 242.77 | 2.00 |
| ZAR | SOUTH AFRICA, REPUBLIC OF 8.50000% 13-31.01.37 | 18 000 000.00 | 948 820.32 | 1.53 |
| Total ZAR |  |  | 2 189 063.09 | 3.53 |
| Total des Obligations, taux fixe |  | 11 388 184.11 | 18.40 |
| Obligations, coupon zéro |  |  |  |
| EUR |  |  |  |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.00000% 19-25.02.22 | 650 000.00 | 784 062.81 | 1.27 |
| Total EUR |  | 784 062.81 | 1.27 |
| Total des Obligations, coupon zéro |  | 784 062.81 | 1.27 |
| Obligations, taux variable |  |  |  |
| EUR |  |  |  |
| EUR	HOLCIM FINANCE LUXEMBOURG SA-REG-S-SUB 3.000%/VAR 19-PRP | 100 000.00 | 124 318.67 | 0.20 |
| Total EUR |  | 124 318.67 | 0.20 |
| NZD |  |  |  |
| NZD	NEW ZEALAND 2.000%/CPI LINKED 12-20.09.25 | 3 770 000.00 | 3 280 335.80 | 5.30 |
| Total NZD |  | 3 280 335.80 | 5.30 |
| Total des Obligations, taux variable |  | 3 404 654.47 | 5.50 |
| Bons du Trésor à moyen terme, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 2.62500% 19-31.01.26 | 3 800 000.00 | 4 235 218.56 | 6.84 |
| USD	AMERICA, UNITED STATES OF 2.12500% 19-15.05.22 | 3 100 000.00 | 3 189 730.43 | 5.15 |
| USD	AMERICA, UNITED STATES OF 2.00000% 14-31.10.21 | 160 000.00 | 162 762.50 | 0.26 |
| USD	AMERICA, UNITED STATES OF 2.75000% 13-15.11.23 | 1 600 000.00 | 1 721 124.96 | 2.78 |
| USD	AMERICA, UNITED STATES OF 1.62500% 19-30.11.26 | 1 100 000.00 | 1 173 562.50 | 1.90 |
| USD	AMERICA, UNITED STATES OF 0.50000% 20-30.06.27 | 910 000.00 | 906 089.84 | 1.47 |
| Total USD |  | 11 388 488.79 | 18.40 |
| Total des Bons du Trésor à moyen terme, taux fixe |  | 11 388 488.79 | 18.40 |
| Bons du Trésor à moyen terme, taux variable |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 0.625%/CPI LINKED 18-15.04.23 | 1 000 000.00 | 1 094 358.79 | 1.77 |
| Total USD |  | 1 094 358.79 | 1.77 |
| Total des Bons du Trésor à moyen terme, taux variable |  | 1 094 358.79 | 1.77 |
| Total des Titres et instruments du marché monétaire négociés sur une bourse officielle |  | 49 005 882.04 | 79.17 |
| Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  |  |  |
| Titres adossés à des actifs, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AMERICAN CREDIT ACCEPTANCE-144A 3.69000% 17-12.06.23 | 124 000.00 | 74 710.55 | 0.12 |
| USD	CPS AUTO TRUST-144A 4.61000% 17-15.12.22 | 350 000.00 | 327 529.23 | 0.53 |
| USD	DELL EQUIPMENT FINANCE TRUST-144A 3.53000% 18-22.06.23 | 350 000.00 | 354 477.41 | 0.57 |
| USD	DRIVE AUTO RECEIVABLES TRUST 3.84000% 17-15.03.23 | 137 000.00 | 58 297.93 | 0.09 |

UBS (Lux) Bond SICAV – Global Short Term Flexible (USD) Rapport semestriel au 30 novembre 2020
|  | Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| USD | FLAGSHIP CREDIT AUTO TRUST-144A 3.62000% 17-15.07.23 | 100 000.00 | 102 267.43 | 0.17 |
| USD | SOFI CONSUMER LOAN PROGRAM-144A 3.79000% 18-26.04.27 | 350 000.00 | 357 521.15 | 0.58 |
| Total USD |  |  | 1 274 803.70 | 2.06 |
| Total des Titres adossés à des actifs, taux fixe |  | 1 274 803.70 | 2.06 |
| Titres adossés à des hypothèques, taux fixe |  |  |  |
| USD |  |  |  |
| USD	MSBAM LYNCH TRUST-SUB 3.99400% 16-01.12.49 | 100 000.00 | 111 813.35 | 0.18 |
| Total USD |  | 111 813.35 | 0.18 |
| Total des Titres adossés à des hypothèques, taux fixe |  | 111 813.35 | 0.18 |
| Titres adossés à des hypothèques, taux variable |  |  |  |
| USD |  |  |  |
| USD	AVENTURA MALL TRUST-144A FLR 18-01.07.40 | 200 000.00 | 215 852.48 | 0.35 |
| USD	BAMLL COMMERCIAL MORT SET-144A 1M LIBOR+135BP 18-15.09.34 | 175 000.00 | 166 669.40 | 0.27 |
| USD	BANK 2017-BNK9 VAR 17-01.11.54 | 150 000.00 | 170 633.84 | 0.28 |
| USD	BBCMS TRUST CBM-144A 1M LIBOR+119.1098BP 18-15.07.37 | 200 000.00 | 187 477.84 | 0.30 |
| USD	BENCHMARK MORTGAGE TRUST VAR 18-01.02.51 | 100 000.00 | 113 769.50 | 0.18 |
| USD	CAMB COMM MORTGAGE TRUST-144A-SUB 1M LIBOR+175BP 19-15.12.37 | 140 000.00 | 138 947.10 | 0.22 |
| USD	CORE TRUST CORE-144A 1M LIBOR+110BP 19-15.12.31 | 100 000.00 | 98 889.92 | 0.16 |
| USD	JPMCC COMMERCIAL MORTGAGE SEC TRUST VAR 17-01.09.50 | 300 000.00 | 302 516.37 | 0.49 |
| USD	JPMDB COMMER MORTGAGE SECURITIES TRUST VAR 17-01.03.50 | 150 000.00 | 167 304.39 | 0.27 |
| Total USD |  | 1 562 060.84 | 2.52 |
| Total des Titres adossés à des hypothèques, taux variable |  | 1 562 060.84 | 2.52 |
| Billets, taux fixe |  |  |  |
| EUR |  |  |  |
| EUR	ALTICE FRANCE HOLDING SA-REG-S 8.00000% 19-15.05.27 | 100 000.00 | 128 970.22 | 0.21 |
| Total EUR |  | 128 970.22 | 0.21 |
| USD |  |  |  |
| USD	ABB FINANCE USA INC 2.87500% 12-08.05.22 | 160 000.00 | 165 647.76 | 0.27 |
| USD	CANADIAN NATURAL RESOURCES LTD 3.45000% 11-15.11.21 | 98 000.00 | 99 985.59 | 0.16 |
| USD	CCO HOLDINGS LLC/CAPITAL CORP-144A 4.00000% 17-01.03.23 | 100 000.00 | 100 750.00 | 0.16 |
| USD	COMMONWEALTH BANK OF AUSTRALIA-144A 3.45000% 18-16.03.23 | 180 000.00 | 192 078.00 | 0.31 |
| USD	ENLINK MIDSTREAM PARTNERS LP 4.40000% 14-01.04.24 | 50 000.00 | 48 185.00 | 0.08 |
| USD	MEXICO, UNITED STATES OF 4.00000% 13-02.10.23 | 300 000.00 | 326 437.50 | 0.53 |
| Total USD |  | 933 083.85 | 1.51 |
| Total des Billets, taux fixe |  | 1 062 054.07 | 1.72 |
| Medium-Term Notes, taux fixe |  |  |  |
| AUD |  |  |  |
| AUD	AUSGRID FINANCE PTY LTD-REG-S 3.75000% 17-30.10.24 | 100 000.00 | 80 591.49 | 0.13 |
| Total AUD |  | 80 591.49 | 0.13 |
| USD |  |  |  |
| USD	NATIONAL RURAL UTILITIES COOP FIN CORP 1.75000% 20-21.01.22 | 300 000.00 | 305 140.59 | 0.49 |
| Total USD |  | 305 140.59 | 0.49 |
| Total des Medium-Term Notes, taux fixe |  | 385 732.08 | 0.62 |
| Obligations, taux fixe |  |  |  |
| CAD |  |  |  |
| CAD	ALBERTA, PROVINCE OF 3.40000% 13-01.12.23 | 580 000.00 | 485 680.07 | 0.78 |
| CAD	YORK, REGIONAL MUNICIPALITY OF 4.00000% 11-30.06.21 | 620 000.00 | 488 699.13 | 0.79 |
| Total CAD |  | 974 379.20 | 1.57 |
| USD |  |  |  |
| USD	FIVE CORNERS FUNDING TRUST-144A 4.41900% 13-15.11.23 | 100 000.00 | 111 277.06 | 0.18 |
| Total USD |  | 111 277.06 | 0.18 |
| Total des Obligations, taux fixe |  | 1 085 656.26 | 1.75 |
| Obligations, taux variable |  |  |  |
| JPY |  |  |  |
| JPY	JAPAN 0.100%/CPI LINKED 19-10.03.29 | 120 000 000.00 | 1 153 802.66 | 1.87 |
| Total JPY |  | 1 153 802.66 | 1.87 |
| NZD |  |  |  |
| NZD	NEW ZEALAND 2.500%/CPI LINKED 17-20.09.40 | 500 000.00 | 543 714.19 | 0.88 |
| NZD	NEW ZEALAND 3.000%/CPI LINKED 13-20.09.30 | 2 560 000.00 | 2 619 264.76 | 4.23 |
| Total NZD |  | 3 162 978.95 | 5.11 |
| USD |  |  |  |
| USD	PACIFIC GAS AND ELECTRIC CO 3M LIBOR+137.5BP 20-15.11.21 | 155 000.00 | 155 168.29 | 0.25 |
| Total USD |  | 155 168.29 | 0.25 |
| Total des Obligations, taux variable |  | 4 471 949.90 | 7.23 |
| Total des Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  | 9 954 070.20 | 16.08 |
| Total du Portefeuille-titres |  | 58 959 952.24 | 95.25 |

UBS (Lux) Bond SICAV – Global Short Term Flexible (USD) Rapport semestriel au 30 novembre 2020
| Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
| Instruments dérivés |  |  |  |
| Instruments dérivés négociés sur une bourse officielle Contrats financiers à terme sur obligations |  |  |  |
|  |  |  |  |
| EUR	EURO BTP ITALY GOVERMENT FUTURE 08.12.20 | -6.00 | -40 551.18 | -0.07 |
| EUR	EURO-BUND FUTURE 08.12.20 | -5.00 | -6 064.73 | -0.01 |
| EUR	EURO-SCHATZ FUTURE 08.12.20 | 40.00 | 956.96 | 0.00 |
| GBP	LONG GILT FUTURE 29.03.21 | -14.00 | -747.63 | 0.00 |
| CAD	CAN 10YR BOND FUTURE 22.03.21 | -12.00 | -3 889.19 | -0.01 |
| USD	US ULTRA LONG BOND (CBT) FUTURE 22.03.21 | 3.00 | 1 968.75 | 0.00 |
| USD	US 5YR TREASURY NOTE FUTURE 31.03.21 | -17.00 | -2 656.25 | 0.00 |
| USD	US 10YR ULTRA NOTE FUTURE 22.03.21 | 5.00 | 3 125.00 | 0.01 |
| USD	US 10YR TREASURY NOTE FUTURE 22.03.21 | -20.00 | -6 250.00 | -0.01 |
| Total des Contrats financiers à terme sur obligations | -54 108.27 | -0.09 |
| Total des Instruments dérivés négociés sur une bourse officielle | -54 108.27 | -0.09 |
| Instruments dérivés non négociés sur une bourse officielle ou sur un autre marché réglementé Swaps et Swaps à terme sur taux d’intérêt |  |  |

| JPY JPY | LCH/INTEREST RATE SWAP PAYER 0.79125% 18-20.12.48 LCH/INTEREST RATE SWAP REC 6ML 18-20.12.48 | -40 000 000.00 | -50 086.40 | -0.08 |
| --- | --- | --- | --- | --- |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.58300% 24-24.09.29 | -2 500 000.00 | -37 629.92 | -0.06 |
| NZD | LCH/INTEREST RATE SWAP REC 3MF 24-24.09.29 |  |  |  |
| CAD | LCH/INTEREST RATE SWAP PAYER 1.89300% 19-03.12.29 | -2 700 000.00 | -152 070.43 | -0.25 |
| CAD | LCH/INTEREST RATE SWAP REC 3MC 19-03.12.29 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAYER 1.14124% 19-13.12.49 | -400 000.00 | -71 288.47 | -0.11 |
| GBP | LCH/INTEREST RATE SWAP REC 6ML 19-13.12.49 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAYER 2.11600% 20-23.01.30 | -6 500 000.00 | -189 913.13 | -0.31 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 20-23.01.30 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAYER 1.91900% 20-10.02.30 | -6 000 000.00 | -143 656.47 | -0.23 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIBR 20-10.02.30 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAYER 1.66500% 20-27.02.30 | -4 500 000.00 | -77 426.48 | -0.12 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIBR 20-27.02.30 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAYER 1.34000% 20-06.03.30 | -3 000 000.00 | -26 292.55 | -0.04 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIBR 20-06.03.30 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 2.84500% 19-04.09.24 | 35 000 000.00 | 27 537.17 | 0.04 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 19-04.09.24 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.78300% 19-10.09.24 | 15 000 000.00 | 6 025.65 | 0.01 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 19-10.09.24 |  |  |  |
| CAD | LCH/INTEREST RATE SWAP REC 1.83100% 24-19.09.29 | 2 000 000.00 | 28 488.00 | 0.05 |
| CAD | LCH/INTEREST RATE SWAP PAYER 3MC 24-19.09.29 |  |  |  |
| CAD | LCH/INTEREST RATE SWAP REC 1.68250% 19-02.10.24 | 4 000 000.00 | 119 226.83 | 0.19 |
| CAD | LCH/INTEREST RATE SWAP PAYER 3MC 19-02.10.24 |  |  |  |
| CNY | CITIGROUP/INTEREST RATE SWAP REC 3.03500% 19-23.10.24 | 11 000 000.00 | 19 286.82 | 0.03 |
| CNY | CITIGROUP/INTEREST RATE SWAP PAYER CNRR007 19-23.10.24 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 3.15750% 19-30.10.24 | 7 000 000.00 | 17 095.20 | 0.03 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 19-30.10.24 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 6.92500% 19-21.11.29 | 50 000 000.00 | 270 733.34 | 0.44 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 19-21.11.29 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.44500% 20-04.03.25 | 10 000 000.00 | -18 899.36 | -0.03 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 20-04.03.25 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.82000% 20-20.11.25 | 10 000 000.00 | 2 602.18 | 0.00 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 20-20.11.25 |  |  |  |
| Total des Swaps et Swaps à terme sur taux d’intérêt | -276 268.02 | -0.44 |
| Total des Instruments dérivés non négociés sur une bourse officielle ou sur un autre marché réglementé | -276 268.02 | -0.44 |
| Total des Instruments dérivés | -330 376.29 | -0.53 |
| Contrats de change à terme |  |  |
| Devise achetée/Montant acheté/Devise vendue/Montant vendu/Date de maturité |  |  |

| IDR | 3 727 000 000.00 | USD | 253 021.05 | 4.12.2020 | 10 750.10 | 0.02 |
| --- | --- | --- | --- | --- | --- | --- |
| INR | 18 920 000.00 | USD | 255 323.74 | 4.12.2020 | 166.50 | 0.00 |
| RUB | 55 383 500.00 | USD | 699 922.91 | 4.12.2020 | 24 005.77 | 0.04 |
| USD | 475 668.52 | PHP | 23 000 000.00 | 4.12.2020 | -2 609.68 | 0.00 |
| MYR | 1 170 000.00 | USD | 281 182.41 | 4.12.2020 | 5 975.26 | 0.01 |
| BRL | 1 120 000.00 | USD | 194 941.95 | 4.12.2020 | 12 994.93 | 0.02 |
| COP | 1 913 720 000.00 | USD | 496 941.05 | 4.12.2020 | 36 654.34 | 0.06 |
| USD | 303 137.12 | TWD | 8 600 000.00 | 4.12.2020 | 1 485.93 | 0.00 |
| USD | 958 678.57 | JPY | 100 500 000.00 | 4.12.2020 | -5 131.71 | -0.01 |
| EUR | 400 000.00 | NOK | 4 447 760.00 | 4.12.2020 | -23 705.55 | -0.04 |
| USD | 7 068 238.37 | CAD | 9 300 000.00 | 4.12.2020 | -108 259.75 | -0.17 |
| USD | 8 745 450.25 | EUR | 7 475 000.00 | 4.12.2020 | -196 381.43 | -0.32 |
| USD | 81 941.06 | CHF | 75 000.00 | 4.12.2020 | -906.69 | 0.00 |
| NOK | 13 170 000.00 | USD | 1 395 405.02 | 4.12.2020 | 91 624.68 | 0.15 |
| HUF | 78 850 000.00 | USD | 252 613.11 | 4.12.2020 | 10 054.18 | 0.02 |
| USD | 762 596.69 | THB | 23 680 000.00 | 4.12.2020 | -20 202.45 | -0.03 |
| CZK | 10 900 000.00 | USD | 473 716.76 | 4.12.2020 | 21 963.39 | 0.04 |
| USD | 798 562.50 | SEK | 7 080 000.00 | 4.12.2020 | -29 542.06 | -0.05 |
| USD | 2 073 496.63 | ZAR | 33 490 000.00 | 4.12.2020 | -90 145.99 | -0.15 |
| USD | 344 348.05 | MXN | 7 300 000.00 | 4.12.2020 | -17 768.90 | -0.03 |
| PLN | 1 740 000.00 | USD | 444 458.29 | 4.12.2020 | 19 791.99 | 0.03 |
| USD | 1 595 955.75 | GBP | 1 230 000.00 | 4.12.2020 | -46 168.05 | -0.07 |
| USD | 2 920 251.85 | AUD | 4 105 000.00 | 4.12.2020 | -104 551.61 | -0.17 |
| USD | 8 029 059.42 | NZD | 12 040 000.00 | 4.12.2020 | -432 672.65 | -0.70 |
| NZD | 45 000.00 | USD | 30 031.56 | 4.12.2020 | 1 594.52 | 0.00 |
| GBP | 65 000.00 | USD | 84 450.93 | 4.12.2020 | 2 327.97 | 0.00 |

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

Contrats de change à terme (suite)
Devise achetée/Montant acheté/Devise vendue/Montant vendu/Date de maturité
| CAD | 140 000.00 | USD | 106 421.47 | 4.12.2020 | 1 611.84 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| JPY | 6 500 000.00 | USD | 62 273.30 | 4.12.2020 | 62.69 | 0.00 |
| EUR | 35 000.00 | USD | 41 028.30 | 4.12.2020 | 839.81 | 0.00 |
| GBP | 200 000.00 | JPY | 27 161 960.00 | 4.12.2020 | 6 524.59 | 0.01 |
| AUD | 320 000.00 | CHF | 209 369.60 | 4.12.2020 | 4 517.19 | 0.01 |
| BRL | 1 283 630.00 | USD | 230 000.00 | 4.12.2020 | 8 316.08 | 0.01 |
| USD | 230 000.00 | JPY | 23 856 175.00 | 4.12.2020 | 1 215.65 | 0.00 |
| USD | 43 581.24 | AUD | 60 000.00 | 4.12.2020 | -630.26 | 0.00 |
| USD | 74 387.59 | MXN | 1 550 000.00 | 4.12.2020 | -2 500.25 | 0.00 |
| USD | 50 926.00 | ZAR | 780 000.00 | 4.12.2020 | 533.61 | 0.00 |
| INR | 17 052 200.00 | USD | 230 000.00 | 4.12.2020 | 268.01 | 0.00 |
| AUD | 320 000.00 | NZD | 341 648.00 | 4.12.2020 | -4 316.10 | -0.01 |
| USD | 64 934.63 | EUR | 55 000.00 | 4.12.2020 | -858.11 | 0.00 |
| USD | 81 284.87 | PLN | 310 000.00 | 4.12.2020 | -1 426.39 | 0.00 |
| USD | 66 131.80 | GBP | 50 000.00 | 4.12.2020 | -621.20 | 0.00 |
| USD | 43 548.34 | ZAR | 680 000.00 | 4.12.2020 | -383.49 | 0.00 |
| USD | 65 829.95 | GBP | 50 000.00 | 4.12.2020 | -923.05 | 0.00 |
| CAD | 1 925 000.00 | USD | 1 470 063.77 | 4.12.2020 | 15 394.18 | 0.01 |
| USD | 51 115.89 | AUD | 70 000.00 | 4.12.2020 | -464.19 | 0.00 |
| USD | 142 393.68 | EUR | 120 000.00 | 4.12.2020 | -1 154.12 | 0.00 |
| NZD | 245 000.00 | USD | 168 875.56 | 4.12.2020 | 3 310.85 | 0.01 |
| USD | 91 520.06 | NOK | 830 000.00 | 4.12.2020 | -2 195.56 | 0.00 |
| CAD | 293 145.13 | NZD | 325 000.00 | 4.12.2020 | -2 200.27 | 0.00 |
| AUD | 320 000.00 | NZD | 337 562.88 | 4.12.2020 | -1 445.08 | 0.00 |
| EUR | 414 999.37 | CZK | 10 900 000.00 | 4.12.2020 | 755.23 | 0.00 |
| TRY | 838 765.62 | USD | 110 000.00 | 4.12.2020 | -2 809.03 | 0.00 |
| CHF | 205 000.00 | JPY | 23 372 757.00 | 4.12.2020 | 2 302.20 | 0.00 |
| AUD | 42 741 100.00 | USD | 31 472 708.17 | 21.1.2021 | 36 457.17 | 0.06 |
| TRY | 880 550.00 | USD | 110 000.00 | 4.12.2020 | 2 530.85 | 0.00 |
| CHF | 976 300.00 | USD | 1 072 969.16 | 21.1.2021 | 7 530.64 | 0.01 |
| EUR | 20 430 900.00 | USD | 24 321 801.46 | 21.1.2021 | 155 770.00 | 0.25 |
| CAD | 295 000.00 | JPY | 23 619 175.00 | 4.12.2020 | 1 130.11 | 0.00 |
| AUD | 469 500.00 | USD | 345 210.67 | 21.1.2021 | 909.41 | 0.00 |
| USD | 241 039.69 | EUR | 202 700.00 | 21.1.2021 | -1 808.34 | 0.00 |
| USD | 477 713.62 | PHP | 23 000 000.00 | 7.1.2021 | 381.70 | 0.00 |
| PHP | 23 000 000.00 | USD | 478 170.48 | 4.12.2020 | 107.72 | 0.00 |
| MYR | 1 170 000.00 | USD | 287 187.04 | 7.1.2021 | -288.73 | 0.00 |
| USD | 287 257.55 | MYR | 1 170 000.00 | 4.12.2020 | 99.88 | 0.00 |
| USD | 730 653.03 | RUB | 55 383 500.00 | 4.12.2020 | 6 724.35 | 0.01 |
| USD | 302 923.56 | TWD | 8 600 000.00 | 7.1.2021 | 660.10 | 0.00 |
| TWD | 8 600 000.00 | USD | 301 331.46 | 4.12.2020 | 319.73 | 0.00 |
| IDR | 3 727 000 000.00 | USD | 263 001.91 | 7.1.2021 | -699.93 | 0.00 |
| INR | 35 980 000.00 | USD | 485 069.09 | 7.1.2021 | -584.58 | 0.00 |
| USD | 263 578.50 | IDR | 3 727 000 000.00 | 4.12.2020 | -192.65 | 0.00 |
| USD | 486 525.01 | INR | 35 972 200.00 | 4.12.2020 | 766.76 | 0.00 |
| BRL | 2 410 000.00 | USD | 451 226.36 | 7.1.2021 | -3 994.19 | -0.01 |
| USD | 450 328.81 | BRL | 2 403 630.00 | 4.12.2020 | 4 075.85 | 0.01 |
| COP | 1 913 720 000.00 | USD | 529 046.53 | 7.1.2021 | 3 698.27 | 0.01 |
| USD | 529 822.81 | COP | 1 913 720 000.00 | 4.12.2020 | -3 772.58 | -0.01 |
| EUR | 59 100.00 | USD | 70 697.07 | 21.1.2021 | 108.64 | 0.00 |
| RUB | 55 383 500.00 | USD | 728 002.26 | 11.1.2021 | -7 212.06 | -0.01 |
| Total des Contrats de change à terme | -612 214.01 | -0.99 |
|  |  |  |
| Avoirs en banque, dépôts à vue et à terme et autres liquidités | 3 910 687.67 | 6.32 |
| Crédit en compte courant et autres engagements à court terme | -607 311.20 | -0.98 |
| Autres actifs et passifs | 577 054.53 | 0.93 |
| Total de l’Actif net | 61 897 792.94 | 100.00 |

UBS (Lux) Bond SICAV – Global Short Term Flexible (USD) Rapport semestriel au 30 novembre 2020