# UBS (Lux) Equity SICAV
– Asian Smaller Companies (USD)
| Most important figures |  |
| --- | --- |
|  | ISIN | 30.11.2019 | 31.5.2019 | 31.5.2018 |
| Net assets in USD |  | 57 198 859.00 | 52 350 975.75 | 70 576 771.92 |
| Class I-B-acc 1 | LU0794919935 |  |  |  |
| Shares outstanding |  | 75 637.2870 | 60 597.2870 | - |
| Net asset value per share in USD |  | 111.61 | 100.40 | - |
| Issue and redemption price per share in USD 2 |  | 111.61 | 100.40 | - |
| Class P-acc | LU0746413003 |  |  |  |
| Shares outstanding |  | 163 981.1580 | 198 640.5490 | 330 362.9620 |
| Net asset value per share in USD |  | 189.61 | 172.09 | 197.05 |
| Issue and redemption price per share in USD 2 |  | 189.61 | 172.09 | 197.05 |
| Class Q-acc | LU1240781994 |  |  |  |
| Shares outstanding |  | 120 900.2280 | 91 492.2720 | 36 547.4690 |
| Net asset value per share in USD |  | 146.11 | 132.06 | 149.95 |
| Issue and redemption price per share in USD 2 |  | 146.11 | 132.06 | 149.95 |
| 1  First NAV: 25.9.2018 2  See note 1 |  |  |  |  |

UBS (Lux) Equity SICAV – Asian Smaller Companies (USD) Semi-Annual Report as of 30 November 2019

## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
| China | 16.91 |
| --- | --- |
| Taiwan | 16.64 |
| Hong Kong | 13.43 |
| South Korea | 12.92 |
| India | 11.58 |
| Singapore | 8.25 |
| Thailand | 8.05 |
| Philippines | 4.21 |
| Indonesia | 2.52 |
| Malaysia | 2.46 |
| Total | 96.97 |

Economic Breakdown as a % of net assets	
| Electronics & semiconductors | 10.08 |
| --- | --- |
| Finance & holding companies | 7.69 |
| Miscellaneous unclassified companies | 6.37 |
| Mechanical engineering & industrial equipment | 6.27 |
| Electrical devices & components | 6.10 |
| Lodging, catering & leisure | 5.39 |
| Pharmaceuticals, cosmetics & medical products | 5.10 |
| Banks & credit institutions | 4.99 |
| Food & soft drinks | 4.24 |
| Real Estate | 4.22 |
| Textiles, garments & leather goods | 4.13 |
| Traffic & transportation | 3.69 |
| Healthcare & social services | 3.65 |
| Miscellaneous consumer goods | 3.14 |
| Internet, software & IT services | 2.91 |
| Aerospace industry | 2.82 |
| Vehicles | 2.58 |
| Retail trade, department stores | 2.52 |
| Insurance | 2.28 |
| Biotechnology | 2.01 |
| Computer hardware & network equipment providers | 1.33 |
| Miscellaneous trading companies | 1.32 |
| Petroleum | 1.18 |
| Graphic design, publishing & media | 1.15 |
| Building industry & materials | 1.08 |
| Chemicals | 0.73 |
| Total | 96.97 |


## Statement of Net Assets
Assets	30.11.2019
USD
Investments in securities, cost	45 278 875.28
| Investments in securities, unrealized appreciation (depreciation) | 	10 187 834.18	 |
| --- | --- |
| Total investments in securities (Note 1) | 55 466 709.46 |
| Cash at banks, deposits on demand and deposit accounts | 1 258 765.19 |
| Receivable on securities sales (Note 1) | 400 743.87 |
| Receivable on subscriptions | 608 192.64 |
| Receivable on dividends | 22 546.11 |
| Other receivables | 26 658.55 |
| Total Assets | 57 783 615.82 |
|  |  |
| Liabilities |  |
| Bank overdraft | -52 975.13 |
| Payable on securities purchases (Note 1) | -307 581.84 |
| Payable on redemptions | -85 168.07 |
| Other liabilities | -95 705.66 |
| Provisions for flat fee (Note 2) | -30 745.97 |
| Provisions for taxe d’abonnement (Note 3) | -4 113.01 |
| Provisions for other commissions and fees (Note 2) | 	-8 467.14	 |
| Total provisions | -43 326.12 |
| Total Liabilities | -584 756.82 |
|  |  |
| Net assets at the end of the period | 57 198 859.00 |
| Statement of Operations | USD |
| Income | 1.6.2019-30.11.2019 |
| Interest on liquid assets | 7 355.02 |
| Dividends | 621 823.11 |
| Income on securities lending (Note 13) | 8 946.42 |
| Other income (Note 4) | 43 779.57 |
| Total income | 681 904.12 |
|  |  |
| Expenses |  |
| Flat fee (Note 2) | -378 200.68 |
| Taxe d’abonnement (Note 3) | -11 762.81 |
| Cost on securities lending (Note 13) | -3 578.57 |
| Other commissions and fees (Note 2) | -5 865.77 |
| Total expenses | -399 407.83 |
|  |  |
| Net income (loss) on investments | 282 496.29 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | 668 370.20 |
| Realized gain (loss) on forward foreign exchange contracts | 360.33 |
| Realized gain (loss) on foreign exchange | -18 025.79 |
| Total realized gain (loss) | 650 704.74 |
|  |  |
| Net realized gain (loss) of the period | 933 201.03 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | 4 379 220.30 |
| Total changes in unrealized appreciation (depreciation) | 4 379 220.30 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | 5 312 421.33 |

UBS (Lux) Equity SICAV – Asian Smaller Companies (USD) Semi-Annual Report as of 30 November 2019
| Statement of Changes in Net Assets |  |
| --- | --- |
|  | USD |
|  | 1.6.2019-30.11.2019 |
| Net assets at the beginning of the period | 52 350 975.75 |
| Subscriptions | 8 403 596.21 |
| Redemptions | 	-8 868 134.29	 |
| Total net subscriptions (redemptions) | -464 538.08 |
| Net income (loss) on investments | 282 496.29 |
| Total realized gain (loss) | 650 704.74 |
| Total changes in unrealized appreciation (depreciation) | 	4 379 220.30	 |
| Net increase (decrease) in net assets as a result of operations | 5 312 421.33 |
| Net assets at the end of the period | 57 198 859.00 |
| Changes in the Number of Shares outstanding |  |
|  | 1.6.2019-30.11.2019 |
| Class | I-B-acc |
| Number of shares outstanding at the beginning of the period | 60 597.2870 |
| Number of shares issued | 20 370.0000 |
| Number of shares redeemed | -5 330.0000 |
| Number of shares outstanding at the end of the period | 75 637.2870 |
| Class | P-acc |
| Number of shares outstanding at the beginning of the period | 198 640.5490 |
| Number of shares issued | 8 868.6800 |
| Number of shares redeemed | -43 528.0710 |
| Number of shares outstanding at the end of the period | 163 981.1580 |
| Class | Q-acc |
| Number of shares outstanding at the beginning of the period | 91 492.2720 |
| Number of shares issued | 32 251.3080 |
| Number of shares redeemed | -2 843.3520 |
| Number of shares outstanding at the end of the period | 120 900.2280 |

UBS (Lux) Equity SICAV – Asian Smaller Companies (USD) Semi-Annual Report as of 30 November 2019

## Statement of Investments in Securities and other Net Assets as of 30 November 2019
| 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 |  |  |  |
| Bearer shares |  |  |  |
| China |  |  |  |
| HKD	CHINA MEIDONG AUTO HKD0.1 | 1 312 000.00 | 1 478 612.08 | 2.59 |
| CNY	HUALAN BIOLOGICAL ‘A’CNY1 | 138 270.00 | 658 437.94 | 1.15 |
| CNY	JOYOUNG CO. LTD. ‘A’CNY1 | 289 538.00 | 930 856.53 | 1.63 |
| HKD	PACIFIC TEXTILES H HKD0.001 | 932 000.00 | 694 282.63 | 1.21 |
| CNY	ZHEJIANG SUPOR COO ‘A’CNY1 | 44 700.00 | 456 765.10 | 0.80 |
| Total China |  | 4 218 954.28 | 7.38 |
| Hong Kong |  |  |  |
| HKD	CHINA EVERBRIGHT HKD1 | 588 000.00 | 946 672.37 | 1.65 |
| HKD	CHINA JINMAO HOLDI NPV | 1 626 000.00 | 1 080 377.96 | 1.89 |
| HKD	FAR EAST HORIZON L HKD0.01 | 1 778 000.00 | 1 615 299.99 | 2.82 |
| HKD	SHN INTL HLDGS HKD1 | 868 000.00 | 1 834 455.00 | 3.21 |
| HKD	SSY GROUP LIMITED HKD0.02 | 1 044 000.00 | 821 737.38 | 1.44 |
| HKD	TECHTRONIC INDUSTR HKD0.1 | 184 000.00 | 1 383 617.74 | 2.42 |
| Total Hong Kong |  | 7 682 160.44 | 13.43 |
| India |  |  |  |
| INR	CITY UNION BANK INR1 | 407 108.00 | 1 274 422.58 | 2.23 |
| INR	COLGATE-PALM (IND) INR1.00 | 30 076.00 | 617 424.70 | 1.08 |
| INR	CROMPTON GREAVES C INR2 | 186 658.00 | 661 908.26 | 1.16 |
| INR	DLF LIMITED INR2 | 253 457.00 | 775 428.68 | 1.36 |
| INR	GODREJ CONSUMER PR INR1 | 52 744.00 | 532 498.74 | 0.93 |
| INR	ICICI PRUDENTIAL L INR10 | 107 800.00 | 754 256.61 | 1.32 |
| INR	MARICO LTD INR1 | 275 674.00 | 1 381 609.05 | 2.41 |
| INR	SRF LIMITED INR10 | 13 980.00 | 623 287.67 | 1.09 |
| Total India |  | 6 620 836.29 | 11.58 |
| Indonesia |  |  |  |
| IDR	INDOCEMENT TUNGGAL IDR500 | 448 300.00 | 616 591.76 | 1.08 |
| IDR	PT BANK NEGARA IND LKD SHS(IDR7500 & IDR375) | 1 555 800.00 | 827 260.48 | 1.44 |
| Total Indonesia |  | 1 443 852.24 | 2.52 |
| Malaysia |  |  |  |
| MYR	AEON CREDIT SER(M) MYR0.5 | 212 900.00 | 750 362.26 | 1.31 |
| Total Malaysia |  | 750 362.26 | 1.31 |
| Philippines |  |  |  |
| PHP	CENTURY PACIFIC FO PHP1 | 1 705 500.00 | 510 827.71 | 0.89 |
| PHP	MACROASIA CORP PHP1 | 3 694 150.00 | 1 308 564.40 | 2.28 |
| PHP	PHILIPPINE SEVEN PHP1 | 200 685.00 | 592 003.97 | 1.04 |
| Total Philippines |  | 2 411 396.08 | 4.21 |
| Singapore |  |  |  |
| SGD	SATS LTD NPV | 220 600.00 | 804 031.18 | 1.40 |
| SGD	SINGAPORE TECH ENG NPV | 533 500.00 | 1 612 584.62 | 2.82 |
| SGD	UOL GROUP LIMITED SGD1 | 98 300.00 | 558 281.55 | 0.98 |
| SGD	VENTURE CORP LTD SGD0.25 | 150 300.00 | 1 745 717.42 | 3.05 |
| Total Singapore |  | 4 720 614.77 | 8.25 |
| South Korea |  |  |  |
| KRW	KOH YOUNG TECHNOLO KRW500 | 6 982.00 | 592 301.12 | 1.04 |
| KRW	S&S TECH CORPORATI KRW500 | 74 868.00 | 569 837.35 | 1.00 |
| KRW	SEOJIN SYSTEM CO L KRW500 | 46 329.00 | 968 823.95 | 1.69 |
| KRW	SPIGEN KOREA CO LT KRW500 | 21 562.00 | 865 291.37 | 1.51 |
| KRW	TOBESOFT CO LTD KRW5000 | 135 329.00 | 341 430.35 | 0.60 |
| KRW	VITZROCELL CO LTD KRW500 | 56 431.00 | 594 815.24 | 1.04 |
| KRW	WONIK QNC CORPORAT KRW500 | 194 104.00 | 2 013 100.98 | 3.52 |
| KRW	WOOSHIN SYSTEMS KRW500 | 263 166.00 | 1 024 902.61 | 1.79 |
| Total South Korea |  | 6 970 502.97 | 12.19 |
| Taiwan |  |  |  |
| TWD	ASPEED TECHNOLOGY TWD10 | 14 000.00 | 390 947.38 | 0.68 |
| TWD	CHAILEASE HOLDING TWD10 | 364 558.00 | 1 630 984.97 | 2.85 |
| TWD	CHIPBOND TECHNOLO TWD10 | 280 000.00 | 576 326.18 | 1.01 |
| TWD	GLOBAL PMX CO LTD TWD10 | 332 000.00 | 1 969 551.46 | 3.44 |
| TWD	KUNG LONG BATTERIE TWD10 | 261 000.00 | 1 248 947.08 | 2.19 |
| TWD	NANYA TECHNOLOGY C TWD10 | 282 000.00 | 658 081.64 | 1.15 |
| TWD	NIEN MADE ENTERPRI TWD10 | 82 000.00 | 752 527.82 | 1.32 |
| TWD	POSIFLEX INC TWD10 | 228 000.00 | 762 229.40 | 1.33 |
| Total Taiwan |  | 7 989 595.93 | 13.97 |
| Total Bearer shares |  | 42 808 275.26 | 74.84 |
| Registered shares |  |  |  |
| China |  |  |  |
| HKD	CANSINO BIOLOGICS CNY1 H | 171 000.00 | 1 147 115.76 | 2.01 |
| HKD	YIHAI INTERNATIONA USD0.00001 | 348 000.00 | 2 214 422.16 | 3.87 |
| Total China |  | 3 361 537.92 | 5.88 |
| Malaysia |  |  |  |
| MYR	MYNEWS HOLDINGS BE NPV | 2 248 700.00 | 656 869.15 | 1.15 |
| Total Malaysia |  | 656 869.15 | 1.15 |

UBS (Lux) Equity SICAV – Asian Smaller Companies (USD) Semi-Annual Report as of 30 November 2019
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| South Korea |  |  |  |
| KRW	CHUNBO CO LTD KRW500 | 9 263.00 | 420 350.38 | 0.73 |
| Total South Korea |  | 420 350.38 | 0.73 |
| Taiwan |  |  |  |  |
| TWD | CHIEF TELECOM INC TWD10 | 96 000.00 | 681 208.11 | 1.19 |
| Total Taiwan | 681 208.11 | 1.19 |
| Thailand |  |  |  |  |
| THB | OSOTSPA PCL THB1 (ALIEN) | 602 900.00 | 818 032.60 | 1.43 |
| Total Thailand | 818 032.60 | 1.43 |
| Total Registered shares | 5 937 998.16 | 10.38 |
| Depository receipts |  |  |
| China |  |  |
| USD	TAL EDUCATION GRP ADS EA REPR 2 CL A ORD SHS	46 176.00 | 2 087 155.20 | 3.65 |
| Total China | 2 087 155.20 | 3.65 |
| Thailand |  |  |  |  |
| THB | NETBAY PLC THB1 (NVDR) | 596 800.00 | 641 879.70 | 1.12 |
| THB | SABINA PUB CO LTD THB1(NVDR) | 1 160 300.00 | 1 046 353.11 | 1.83 |
| THB | SIAM WELLNESS GP THB0.25(NVDR) | 1 683 100.00 | 868 912.39 | 1.52 |
| THB | STAR PETROLEUM PLC THB6.92 (NVDR) | 2 049 600.00 | 674 891.04 | 1.18 |
| THB | TQM CORPORATION THB1 (NVDR) | 307 300.00 | 551 701.00 | 0.97 |
| Total Thailand |  | 3 783 737.24 | 6.62 |
| Total Depository receipts |  | 5 870 892.44 | 10.27 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 54 617 165.86 | 95.49 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Bearer shares |  |  |  |
| Taiwan |  |  |  |
| TWD	POYA INTERNATIONAL TWD10 | 60 000.00 | 849 543.60 | 1.48 |
| Total Taiwan |  | 849 543.60 | 1.48 |
| Total Bearer shares |  | 849 543.60 | 1.48 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 849 543.60 | 1.48 |
| Total investments in securities |  | 55 466 709.46 | 96.97 |
|  |  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets |  | 1 258 765.19 | 2.20 |
| Bank overdraft and other short-term liabilities |  | -52 975.13 | -0.09 |
| Other assets and liabilities |  | 526 359.48 | 0.92 |
| Total net assets |  | 57 198 859.00 | 100.00 |

UBS (Lux) Equity SICAV – Asian Smaller Companies (USD) Semi-Annual Report as of 30 November 2019

Translation (ENDE, 2019-11-30):
# UBS (Lux) Equity SICAV
– Asian Smaller Companies (USD)
| Wichtigste Daten |  |
| --- | --- |
|  | ISIN | 30.11.2019 | 31.5.2019 | 31.5.2018 |
| Nettovermögen in USD |  | 57 198 859.00 | 52 350 975.75 | 70 576 771.92 |
| Klasse I-B-acc 1 | LU0794919935 |  |  |  |
| Aktien im Umlauf |  | 75 637.2870 | 60 597.2870 | - |
| Nettoinventarwert pro Aktie in USD |  | 111.61 | 100.40 | - |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 2 |  | 111.61 | 100.40 | - |
| Klasse P-acc | LU0746413003 |  |  |  |
| Aktien im Umlauf |  | 163 981.1580 | 198 640.5490 | 330 362.9620 |
| Nettoinventarwert pro Aktie in USD |  | 189.61 | 172.09 | 197.05 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 2 |  | 189.61 | 172.09 | 197.05 |
| Klasse Q-acc | LU1240781994 |  |  |  |
| Aktien im Umlauf |  | 120 900.2280 | 91 492.2720 | 36 547.4690 |
| Nettoinventarwert pro Aktie in USD |  | 146.11 | 132.06 | 149.95 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 2 |  | 146.11 | 132.06 | 149.95 |
| 1  Erste NAV 25.9.2018 2  Siehe Erläuterung 1 |  |  |  |  |


## Struktur des Wertpapierbestandes
Geographische Aufteilung in % des Nettovermögens	
| China | 16.91 |
| --- | --- |
| Taiwan | 16.64 |
| Hongkong | 13.43 |
| Südkorea | 12.92 |
| Indien | 11.58 |
| Singapur | 8.25 |
| Thailand | 8.05 |
| Philippinen | 4.21 |
| Indonesien | 2.52 |
| Malaysia | 2.46 |
| Total | 96.97 |

Wirtschaftliche Aufteilung in % des Nettovermögens	
| Elektronik & Halbleiter | 10.08 |
| --- | --- |
| Finanz- & Beteiligungsgesellschaften | 7.69 |
| Diverse nicht klassierte Gesellschaften | 6.37 |
| Maschinen & Apparate | 6.27 |
| Elektrische Geräte & Komponenten | 6.10 |
| Gastgewerbe & Freizeit | 5.39 |
| Pharmazeutik, Kosmetik & medizinische Produkte | 5.10 |
| Banken & Kreditinstitute | 4.99 |
| Nahrungsmittel & Softdrinks | 4.24 |
| Immobilien | 4.22 |
| Textilien, Kleidung & Lederwaren | 4.13 |
| Verkehr & Transport | 3.69 |
| Gesundheits- & Sozialwesen | 3.65 |
| Diverse Konsumgüter | 3.14 |
| Internet, Software & IT-Dienste | 2.91 |
| Flugzeug- & Raumfahrtindustrie | 2.82 |
| Fahrzeuge | 2.58 |
| Detailhandel, Warenhäuser | 2.52 |
| Versicherungen | 2.28 |
| Biotechnologie | 2.01 |
| Computer & Netzwerkausrüster | 1.33 |
| Diverse Handelsfirmen | 1.32 |
| Erdöl | 1.18 |
| Grafisches Gewerbe, Verlage & Medien | 1.15 |
| Baugewerbe & Baumaterial | 1.08 |
| Chemie | 0.73 |
| Total | 96.97 |

UBS (Lux) Equity SICAV – Asian Smaller Companies (USD) Halbjahresbericht per 30. November 2019

## Nettovermögensaufstellung
Aktiva	30.11.2019
USD
Wertpapierbestand, Einstandswert	45 278 875.28
| Wertpapierbestand, nicht realisierte Werterhöhung (-minderung) | 	10 187 834.18	 |
| --- | --- |
| Total Wertpapierbestand (Erläuterung 1) | 55 466 709.46 |
| Bankguthaben, Sicht- und Fristgelder | 1 258 765.19 |
| Forderungen aus Wertpapierverkäufen (Erläuterung 1) | 400 743.87 |
| Forderungen aus Zeichnungen | 608 192.64 |
| Forderungen aus Dividenden | 22 546.11 |
| Sonstige Forderungen | 26 658.55 |
| Total Aktiva | 57 783 615.82 |
|  |  |
| Passiva |  |
| Kontokorrentkredit | -52 975.13 |
| Verbindlichkeiten aus Wertpapierkäufen (Erläuterung 1) | -307 581.84 |
| Verbindlichkeiten aus Rücknahmen | -85 168.07 |
| Andere Verbindlichkeiten | -95 705.66 |
| Rückstellungen für pauschale Verwaltungskommission (Erläuterung 2) | -30 745.97 |
| Rückstellungen für Abonnementsabgabe (Erläuterung 3) | -4 113.01 |
| Rückstellungen für sonstige Kommissionen und Gebühren (Erläuterung 2) | 	-8 467.14	 |
| Total Rückstellungen für Aufwendungen | -43 326.12 |
| Total Passiva | -584 756.82 |
|  |  |
| Nettovermögen am Ende der Berichtsperiode | 57 198 859.00 |
| Ertrags- und Aufwandsrechnung | USD |
| Erträge | 1.6.2019-30.11.2019 |
| Zinsertrag aus liquiden Mitteln | 7 355.02 |
| Dividenden | 621 823.11 |
| Erträge aus Securities Lending (Erläuterung 13) | 8 946.42 |
| Sonstige Erträge (Erläuterung 4) | 43 779.57 |
| Total Erträge | 681 904.12 |
|  |  |
| Aufwendungen |  |
| Pauschale Verwaltungskommission (Erläuterung 2) | -378 200.68 |
| Abonnementsabgabe (Erläuterung 3) | -11 762.81 |
| Kosten aus Securities Lending (Erläuterung 13) | -3 578.57 |
| Sonstige Kommissionen und Gebühren (Erläuterung 2) | -5 865.77 |
| Total Aufwendungen | -399 407.83 |
|  |  |
| Nettoerträge (-verluste) aus Anlagen | 282 496.29 |
|  |  |
| Realisierte Gewinne (Verluste) (Erläuterung 1) |  |
| Realisierter Kursgewinn (-verlust) aus marktbewerteten Wertpapieren ausser Optionen | 668 370.20 |
| Realisierter Kursgewinn (-verlust) aus Devisenterminkontrakten | 360.33 |
| Realisierter Währungsgewinn (-verlust) | -18 025.79 |
| Total der realisierten Gewinne (Verluste) | 650 704.74 |
|  |  |
| Realisierter Nettogewinn (-verlust) der Berichtsperiode | 933 201.03 |
|  |  |
| Veränderungen der nicht realisierten Werterhöhung (-minderung) (Erläuterung 1) |  |
| Nicht realisierte Werterhöhung (-minderung) marktbewerteter Wertpapiere ausser Optionen | 4 379 220.30 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | 4 379 220.30 |
|  |  |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | 5 312 421.33 |

UBS (Lux) Equity SICAV – Asian Smaller Companies (USD) Halbjahresbericht per 30. November 2019
| Veränderungen des Nettovermögens |  |
| --- | --- |
|  | USD |
|  | 1.6.2019-30.11.2019 |
| Nettovermögen zu Beginn der Berichtsperiode | 52 350 975.75 |
| Zeichnungen | 8 403 596.21 |
| Rücknahmen | 	-8 868 134.29	 |
| Total Mittelzufluss (-abfluss) | -464 538.08 |
| Nettoerträge (-verluste) aus Anlagen | 282 496.29 |
| Total der realisierten Gewinne (Verluste) | 650 704.74 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | 	4 379 220.30	 |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | 5 312 421.33 |
| Nettovermögen am Ende der Berichtsperiode | 57 198 859.00 |
| Entwicklung der Aktien im Umlauf |  |
|  | 1.6.2019-30.11.2019 |
| Klasse | I-B-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode | 60 597.2870 |
| Anzahl der ausgegebenen Aktien | 20 370.0000 |
| Anzahl der zurückgegebenen Aktien | -5 330.0000 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode | 75 637.2870 |
| Klasse | P-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode | 198 640.5490 |
| Anzahl der ausgegebenen Aktien | 8 868.6800 |
| Anzahl der zurückgegebenen Aktien | -43 528.0710 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode | 163 981.1580 |
| Klasse | Q-acc |
| Anzahl der Aktien im Umlauf zu Beginn der Berichtsperiode | 91 492.2720 |
| Anzahl der ausgegebenen Aktien | 32 251.3080 |
| Anzahl der zurückgegebenen Aktien | -2 843.3520 |
| Anzahl der Aktien im Umlauf am Ende der Berichtsperiode | 120 900.2280 |

UBS (Lux) Equity SICAV – Asian Smaller Companies (USD) Halbjahresbericht per 30. November 2019

## Aufstellung der Wertpapierbestände und anderer Nettovermögenswerte per 30. November 2019
| 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 |  |  |  |
| Inhaberaktien |  |  |  |
| China |  |  |  |
| HKD	CHINA MEIDONG AUTO HKD0.1 | 1 312 000.00 | 1 478 612.08 | 2.59 |
| CNY	HUALAN BIOLOGICAL ‘A’CNY1 | 138 270.00 | 658 437.94 | 1.15 |
| CNY	JOYOUNG CO. LTD. ‘A’CNY1 | 289 538.00 | 930 856.53 | 1.63 |
| HKD	PACIFIC TEXTILES H HKD0.001 | 932 000.00 | 694 282.63 | 1.21 |
| CNY	ZHEJIANG SUPOR COO ‘A’CNY1 | 44 700.00 | 456 765.10 | 0.80 |
| Total China |  | 4 218 954.28 | 7.38 |
| Hongkong |  |  |  |
| HKD	CHINA EVERBRIGHT HKD1 | 588 000.00 | 946 672.37 | 1.65 |
| HKD	CHINA JINMAO HOLDI NPV | 1 626 000.00 | 1 080 377.96 | 1.89 |
| HKD	FAR EAST HORIZON L HKD0.01 | 1 778 000.00 | 1 615 299.99 | 2.82 |
| HKD	SHN INTL HLDGS HKD1 | 868 000.00 | 1 834 455.00 | 3.21 |
| HKD	SSY GROUP LIMITED HKD0.02 | 1 044 000.00 | 821 737.38 | 1.44 |
| HKD	TECHTRONIC INDUSTR HKD0.1 | 184 000.00 | 1 383 617.74 | 2.42 |
| Total Hongkong |  | 7 682 160.44 | 13.43 |
| Indien |  |  |  |
| INR	CITY UNION BANK INR1 | 407 108.00 | 1 274 422.58 | 2.23 |
| INR	COLGATE-PALM (IND) INR1.00 | 30 076.00 | 617 424.70 | 1.08 |
| INR	CROMPTON GREAVES C INR2 | 186 658.00 | 661 908.26 | 1.16 |
| INR	DLF LIMITED INR2 | 253 457.00 | 775 428.68 | 1.36 |
| INR	GODREJ CONSUMER PR INR1 | 52 744.00 | 532 498.74 | 0.93 |
| INR	ICICI PRUDENTIAL L INR10 | 107 800.00 | 754 256.61 | 1.32 |
| INR	MARICO LTD INR1 | 275 674.00 | 1 381 609.05 | 2.41 |
| INR	SRF LIMITED INR10 | 13 980.00 | 623 287.67 | 1.09 |
| Total Indien |  | 6 620 836.29 | 11.58 |
| Indonesien |  |  |  |
| IDR	INDOCEMENT TUNGGAL IDR500 | 448 300.00 | 616 591.76 | 1.08 |
| IDR	PT BANK NEGARA IND LKD SHS(IDR7500 & IDR375) | 1 555 800.00 | 827 260.48 | 1.44 |
| Total Indonesien |  | 1 443 852.24 | 2.52 |
| Malaysia |  |  |  |
| MYR	AEON CREDIT SER(M) MYR0.5 | 212 900.00 | 750 362.26 | 1.31 |
| Total Malaysia |  | 750 362.26 | 1.31 |
| Philippinen |  |  |  |
| PHP	CENTURY PACIFIC FO PHP1 | 1 705 500.00 | 510 827.71 | 0.89 |
| PHP	MACROASIA CORP PHP1 | 3 694 150.00 | 1 308 564.40 | 2.28 |
| PHP	PHILIPPINE SEVEN PHP1 | 200 685.00 | 592 003.97 | 1.04 |
| Total Philippinen |  | 2 411 396.08 | 4.21 |
| Singapur |  |  |  |
| SGD	SATS LTD NPV | 220 600.00 | 804 031.18 | 1.40 |
| SGD	SINGAPORE TECH ENG NPV | 533 500.00 | 1 612 584.62 | 2.82 |
| SGD	UOL GROUP LIMITED SGD1 | 98 300.00 | 558 281.55 | 0.98 |
| SGD	VENTURE CORP LTD SGD0.25 | 150 300.00 | 1 745 717.42 | 3.05 |
| Total Singapur |  | 4 720 614.77 | 8.25 |
| Südkorea |  |  |  |
| KRW	KOH YOUNG TECHNOLO KRW500 | 6 982.00 | 592 301.12 | 1.04 |
| KRW	S&S TECH CORPORATI KRW500 | 74 868.00 | 569 837.35 | 1.00 |
| KRW	SEOJIN SYSTEM CO L KRW500 | 46 329.00 | 968 823.95 | 1.69 |
| KRW	SPIGEN KOREA CO LT KRW500 | 21 562.00 | 865 291.37 | 1.51 |
| KRW	TOBESOFT CO LTD KRW5000 | 135 329.00 | 341 430.35 | 0.60 |
| KRW	VITZROCELL CO LTD KRW500 | 56 431.00 | 594 815.24 | 1.04 |
| KRW	WONIK QNC CORPORAT KRW500 | 194 104.00 | 2 013 100.98 | 3.52 |
| KRW	WOOSHIN SYSTEMS KRW500 | 263 166.00 | 1 024 902.61 | 1.79 |
| Total Südkorea |  | 6 970 502.97 | 12.19 |
| Taiwan |  |  |  |
| TWD	ASPEED TECHNOLOGY TWD10 | 14 000.00 | 390 947.38 | 0.68 |
| TWD	CHAILEASE HOLDING TWD10 | 364 558.00 | 1 630 984.97 | 2.85 |
| TWD	CHIPBOND TECHNOLO TWD10 | 280 000.00 | 576 326.18 | 1.01 |
| TWD	GLOBAL PMX CO LTD TWD10 | 332 000.00 | 1 969 551.46 | 3.44 |
| TWD	KUNG LONG BATTERIE TWD10 | 261 000.00 | 1 248 947.08 | 2.19 |
| TWD	NANYA TECHNOLOGY C TWD10 | 282 000.00 | 658 081.64 | 1.15 |
| TWD	NIEN MADE ENTERPRI TWD10 | 82 000.00 | 752 527.82 | 1.32 |
| TWD	POSIFLEX INC TWD10 | 228 000.00 | 762 229.40 | 1.33 |
| Total Taiwan |  | 7 989 595.93 | 13.97 |
| Total Inhaberaktien |  | 42 808 275.26 | 74.84 |
| Namensaktien |  |  |  |
| China |  |  |  |
| HKD	CANSINO BIOLOGICS CNY1 H | 171 000.00 | 1 147 115.76 | 2.01 |
| HKD	YIHAI INTERNATIONA USD0.00001 | 348 000.00 | 2 214 422.16 | 3.87 |
| Total China |  | 3 361 537.92 | 5.88 |
| Malaysia |  |  |  |
| MYR	MYNEWS HOLDINGS BE NPV | 2 248 700.00 | 656 869.15 | 1.15 |
| Total Malaysia |  | 656 869.15 | 1.15 |

UBS (Lux) Equity SICAV – Asian Smaller Companies (USD) Halbjahresbericht per 30. November 2019
|  | Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
| Südkorea |  |  |  |  |
| KRW | CHUNBO CO LTD KRW500 | 9 263.00 | 420 350.38 | 0.73 |
| Total Südkorea	420 350.38	0.73 |
| Taiwan |  |  |  |  |
| TWD | CHIEF TELECOM INC TWD10 | 96 000.00 | 681 208.11 | 1.19 |
| Total Taiwan | 681 208.11 | 1.19 |
| Thailand |  |  |  |  |
| THB | OSOTSPA PCL THB1 (ALIEN) | 602 900.00 | 818 032.60 | 1.43 |
| Total Thailand | 818 032.60 | 1.43 |
| Total Namensaktien | 5 937 998.16 | 10.38 |
| Depository Receipts |  |  |
| China |  |  |
| USD	TAL EDUCATION GRP ADS EA REPR 2 CL A ORD SHS	46 176.00 | 2 087 155.20 | 3.65 |
| Total China | 2 087 155.20 | 3.65 |
| Thailand |  |  |  |  |
| THB | NETBAY PLC THB1 (NVDR) | 596 800.00 | 641 879.70 | 1.12 |
| THB | SABINA PUB CO LTD THB1(NVDR) | 1 160 300.00 | 1 046 353.11 | 1.83 |
| THB | SIAM WELLNESS GP THB0.25(NVDR) | 1 683 100.00 | 868 912.39 | 1.52 |
| THB | STAR PETROLEUM PLC THB6.92 (NVDR) | 2 049 600.00 | 674 891.04 | 1.18 |
| THB | TQM CORPORATION THB1 (NVDR) | 307 300.00 | 551 701.00 | 0.97 |
| Total Thailand | 3 783 737.24 | 6.62 |
| Total Depository Receipts | 5 870 892.44 | 10.27 |
| Total Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden | 54 617 165.86 | 95.49 |
| Wertpapiere und Geldmarktinstrumente, die an einem anderen geregelten Markt gehandelt werden |  |  |
| Inhaberaktien |  |  |
| Taiwan |  |  |
| TWD	POYA INTERNATIONAL TWD10	60 000.00 | 849 543.60 | 1.48 |
| Total Taiwan | 849 543.60 | 1.48 |
| Total Inhaberaktien | 849 543.60 | 1.48 |
| Total Wertpapiere und Geldmarktinstrumente, die an einem anderen geregelten Markt gehandelt werden | 849 543.60 | 1.48 |
| Total des Wertpapierbestandes | 55 466 709.46 | 96.97 |
|  |  |  |
| Bankguthaben, Sicht- und Fristgelder und andere liquide Mittel | 1 258 765.19 | 2.20 |
| Kontokorrentkredit und andere kurzfristige Verbindlichkeiten | -52 975.13 | -0.09 |
| Andere Aktiva und Passiva | 526 359.48 | 0.92 |
| Total des Nettovermögens | 57 198 859.00 | 100.00 |

UBS (Lux) Equity SICAV – Asian Smaller Companies (USD) Halbjahresbericht per 30. November 2019