# UBS (Lux) Bond SICAV – Global Corporates (USD)
| Most important figures |  |
| --- | --- |
|  | ISIN | 30.11.2019 | 31.5.2019 | 31.5.2018 |
| Net assets in USD |  | 542 331 230.07 | 481 560 310.90 | 556 111 844.67 |
| Class (CHF hedged) I-A1-acc | LU0390863529 |  |  |  |
| Shares outstanding |  | 243 805.6740 | 229 483.2690 | 204 883.1070 |
| Net asset value per share in CHF |  | 130.13 | 125.33 | 121.37 |
| Issue and redemption price per share in CHF 1 |  | 130.13 | 125.33 | 121.37 |
| Class I-A2-acc | LU0390870227 |  |  |  |
| Shares outstanding |  | 400 700.2090 | 400 700.2090 | 312 162.2090 |
| Net asset value per share in USD |  | 115.73 | 109.44 | 102.20 |
| Issue and redemption price per share in USD 1 |  | 115.73 | 109.44 | 102.20 |
| Class I-B-acc | LU0390870730 |  |  |  |
| Shares outstanding |  | 38 441.0960 | 39 051.9810 | 47 408.4210 |
| Net asset value per share in USD |  | 173.17 | 163.65 | 152.63 |
| Issue and redemption price per share in USD 1 |  | 173.17 | 163.65 | 152.63 |
| Class (CHF hedged) I-B-acc | LU0390864253 |  |  |  |
| Shares outstanding |  | 175 053.6090 | 204 133.7840 | 193 631.7770 |
| Net asset value per share in CHF |  | 142.50 | 136.90 | 131.94 |
| Issue and redemption price per share in CHF 1 |  | 142.50 | 136.90 | 131.94 |
| Class I-X-acc | LU0390870904 |  |  |  |
| Shares outstanding |  | 925 741.2060 | 921 561.8740 | 1 260 819.8740 |
| Net asset value per share in USD |  | 174.17 | 164.55 | 153.36 |
| Issue and redemption price per share in USD 1 |  | 174.17 | 164.55 | 153.36 |
| Class (CHF hedged) I-X-acc | LU0390864410 |  |  |  |
| Shares outstanding |  | 881 557.0760 | 882 498.1190 | 856 424.6170 |
| Net asset value per share in CHF |  | 148.43 | 142.55 | 137.30 |
| Issue and redemption price per share in CHF 1 |  | 148.43 | 142.55 | 137.30 |
| Class (EUR hedged) I-X-acc | LU0390868080 |  |  |  |
| Shares outstanding |  | 240 584.4590 | 199 728.4490 | 494 512.9820 |
| Net asset value per share in EUR |  | 124.64 | 119.39 | 114.47 |
| Issue and redemption price per share in EUR 1 |  | 124.64 | 119.39 | 114.47 |
| Class I-X-UKdist | LU1336832081 |  |  |  |
| Shares outstanding |  | 411 136.1450 | 68 364.2440 | 70 555.1060 |
| Net asset value per share in USD |  | 111.28 | 108.50 | 104.40 |
| Issue and redemption price per share in USD 1 |  | 111.28 | 108.50 | 104.40 |
| Class (CHF hedged) U-X-acc | LU0390864766 |  |  |  |
| Shares outstanding |  | 928.3000 | 928.3000 | 935.3000 |
| Net asset value per share in CHF |  | 13 681.39 | 13 139.63 | 12 655.21 |
| Issue and redemption price per share in CHF 1 |  | 13 681.39 | 13 139.63 | 12 655.21 |
| Class U-X-dist | LU0390871035 |  |  |  |
| Shares outstanding |  | 3 981.8160 | 4 355.9030 | 5 841.5340 |
| Net asset value per share in USD |  | 12 281.16 | 11 964.02 | 11 511.05 |
| Issue and redemption price per share in USD 1 |  | 12 281.16 | 11 964.02 | 11 511.05 |
| 1  See note 1 |  |  |  |  |

UBS (Lux) Bond SICAV – Global Corporates (USD) Semi-Annual Report as of 30 November 2019

## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
| United States | 44.04 |
| --- | --- |
| United Kingdom | 12.46 |
| The Netherlands | 6.58 |
| France | 5.60 |
| Australia | 4.85 |
| Luxembourg | 2.33 |
| Spain | 2.08 |
| Canada | 2.07 |
| Germany | 1.90 |
| Ireland | 1.36 |
| Japan | 1.19 |
| Italy | 1.04 |
| Mexico | 0.89 |
| British Virgin Islands | 0.65 |
| Denmark | 0.64 |
| Belgium | 0.61 |
| Switzerland | 0.60 |
| Sweden | 0.51 |
| Singapore | 0.43 |
| Finland | 0.40 |
| Jersey | 0.40 |
| Hong Kong | 0.39 |
| China | 0.34 |
| New Zealand | 0.32 |
| Bermuda | 0.28 |
| Poland | 0.22 |
| Romania | 0.22 |
| Norway | 0.22 |
| Saudi Arabia | 0.19 |
| Czech Republic | 0.19 |
| Chile | 0.18 |
| Austria | 0.17 |
| Cayman Islands | 0.12 |
| Portugal | 0.11 |
| Curacao | 0.07 |
| Total | 93.65 |

Economic Breakdown as a % of net assets	
| Banks & credit institutions | 24.34 |
| --- | --- |
| Finance & holding companies | 21.86 |
| Insurance | 6.18 |
| Petroleum | 5.00 |
| Energy & water supply | 4.83 |
| Telecommunications | 4.16 |
| Pharmaceuticals, cosmetics & medical products | 3.71 |
| Real Estate | 2.78 |
| Internet, software & IT services | 2.18 |
| Retail trade, department stores | 2.06 |
| Traffic & transportation | 2.03 |
| Tobacco & alcohol | 1.69 |
| Computer hardware & network equipment providers | 1.32 |
| Miscellaneous unclassified companies | 1.30 |
| Electrical devices & components | 1.22 |
| Chemicals | 1.10 |
| Graphic design, publishing & media | 1.09 |
| Miscellaneous services | 1.06 |
| Food & soft drinks | 0.95 |
| Mortgage & funding institutions | 0.83 |
| Healthcare & social services | 0.53 |
| Miscellaneous consumer goods | 0.52 |
| Countries & central governments | 0.42 |
| Mining, coal & steel | 0.40 |
| Biotechnology | 0.40 |
| Aerospace industry | 0.36 |
| Vehicles | 0.28 |
| Mechanical engineering & industrial equipment | 0.25 |
| Precious metals & stones | 0.24 |
| Investment funds | 0.22 |
| Building industry & materials | 0.18 |
| Agriculture & fishery | 0.16 |
| Total | 93.65 |

UBS (Lux) Bond SICAV – Global Corporates (USD) Semi-Annual Report as of 30 November 2019

## Statement of Net Assets
Assets	30.11.2019
USD
Investments in securities, cost	491 747 056.70
| Investments in securities, unrealized appreciation (depreciation) | 	16 146 324.50	 |
| --- | --- |
| Total investments in securities (Note 1) | 507 893 381.20 |
| Cash at banks, deposits on demand and deposit accounts | 31 869 276.15 |
| Other liquid assets (Margins) | 789 239.14 |
| Receivable on subscriptions | 2 995.63 |
| Interest receivable on securities | 4 993 707.73 |
| Interest receivable on liquid assets | 333.84 |
| Unrealized gain (loss) on financial futures (Note 1) | 590 594.10 |
| Unrealized gain (loss) on forward foreign exchange contracts (Note 1) | -834 913.10 |
| Unrealized gain (loss) on swaps (Note 1) | 2 847.62 |
| Total Assets | 545 307 462.31 |
|  |  |
| Liabilities |  |
| Payable on securities purchases (Note 1) | -2 902 946.67 |
| Payable on redemptions | -7 944.92 |
| Provisions for flat fee (Note 2) | -16 872.68 |
| Provisions for taxe d’abonnement (Note 3) | -8 842.37 |
| Provisions for other commissions and fees (Note 2) | 	-39 625.60	 |
| Total provisions | -65 340.65 |
| Total Liabilities | -2 976 232.24 |
|  |  |
| Net assets at the end of the period | 542 331 230.07 |
| Statement of Operations | USD |
| Income | 1.6.2019-30.11.2019 |
| Interest on liquid assets | 72 800.08 |
| Interest on securities | 7 830 790.80 |
| Interest received on swaps (Note 1) | 2 070.00 |
| Income on securities lending (Note 13) | 60 043.70 |
| Total income | 7 965 704.58 |
|  |  |
| Expenses |  |
| Flat fee (Note 2) | -214 024.50 |
| Taxe d’abonnement (Note 3) | -26 282.59 |
| Cost on securities lending (Note 13) | -24 017.48 |
| Other commissions and fees (Note 2) | -28 842.28 |
| Interest on cash and bank overdraft | -15 758.96 |
| Total expenses | -308 925.81 |
|  |  |
| Net income (loss) on investments | 7 656 778.77 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | 1 785 194.22 |
| Realized gain (loss) on options | -492 823.25 |
| Realized gain (loss) on financial futures | -2 450 638.21 |
| Realized gain (loss) on forward foreign exchange contracts | 7 843 769.61 |
| Realized gain (loss) on foreign exchange | -3 149 398.64 |
| Total realized gain (loss) | 3 536 103.73 |
|  |  |
| Net realized gain (loss) of the period | 11 192 882.50 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | 17 629 449.71 |
| Unrealized appreciation (depreciation) on options | -92 557.66 |
| Unrealized appreciation (depreciation) on yield-evaluated securities and money market instruments | -133.99 |
| Unrealized appreciation (depreciation) on financial futures | 1 418 015.34 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | -4 622 828.96 |
| Unrealized appreciation (depreciation) on swaps | -1 350.83 |
| Total changes in unrealized appreciation (depreciation) | 14 330 593.61 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | 25 523 476.11 |

UBS (Lux) Bond SICAV – Global Corporates (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 |  | 481 560 310.90 |
| Subscriptions |  | 54 535 089.82 |
| Redemptions |  | 	-17 472 182.94	 |
| Total net subscriptions (redemptions) |  | 37 062 906.88 |
| Dividend paid |  | -1 815 463.82 |
| Net income (loss) on investments |  | 7 656 778.77 |
| Total realized gain (loss) |  | 3 536 103.73 |
| Total changes in unrealized appreciation (depreciation) |  | 	14 330 593.61	 |
| Net increase (decrease) in net assets as a result of operations |  | 25 523 476.11 |
| Net assets at the end of the period |  | 542 331 230.07 |
| Changes in the Number of Shares outstanding |  |  |
|  |  | 1.6.2019-30.11.2019 |
| Class |  | (CHF hedged) I-A1-acc |
| Number of shares outstanding at the beginning of the period |  | 229 483.2690 |
| Number of shares issued |  | 23 858.0000 |
| Number of shares redeemed |  | -9 535.5950 |
| Number of shares outstanding at the end of the period |  | 243 805.6740 |
| Class |  | I-A2-acc |
| Number of shares outstanding at the beginning of the period |  | 400 700.2090 |
| Number of shares issued |  | 0.0000 |
| Number of shares redeemed |  | 0.0000 |
| Number of shares outstanding at the end of the period |  | 400 700.2090 |
| Class |  | I-B-acc |
| Number of shares outstanding at the beginning of the period |  | 39 051.9810 |
| Number of shares issued |  | 0.0000 |
| Number of shares redeemed |  | -610.8850 |
| Number of shares outstanding at the end of the period |  | 38 441.0960 |
| Class |  | (CHF hedged) I-B-acc |
| Number of shares outstanding at the beginning of the period |  | 204 133.7840 |
| Number of shares issued |  | 0.0000 |
| Number of shares redeemed |  | -29 080.1750 |
| Number of shares outstanding at the end of the period |  | 175 053.6090 |
| Class |  | I-X-acc |
| Number of shares outstanding at the beginning of the period |  | 921 561.8740 |
| Number of shares issued |  | 5 187.7460 |
| Number of shares redeemed |  | -1 008.4140 |
| Number of shares outstanding at the end of the period |  | 925 741.2060 |
| Class |  | (CHF hedged) I-X-acc |
| Number of shares outstanding at the beginning of the period |  | 882 498.1190 |
| Number of shares issued |  | 32 008.9290 |
| Number of shares redeemed |  | -32 949.9720 |
| Number of shares outstanding at the end of the period |  | 881 557.0760 |
| Class |  | (EUR hedged) I-X-acc |
| Number of shares outstanding at the beginning of the period |  | 199 728.4490 |
| Number of shares issued |  | 56 342.0490 |
| Number of shares redeemed |  | -15 486.0390 |
| Number of shares outstanding at the end of the period |  | 240 584.4590 |
| Class |  | I-X-UKdist |
| Number of shares outstanding at the beginning of the period |  | 68 364.2440 |
| Number of shares issued |  | 344 810.4990 |
| Number of shares redeemed |  | -2 038.5980 |
| Number of shares outstanding at the end of the period |  | 411 136.1450 |
| Class |  | (CHF hedged) U-X-acc |
| Number of shares outstanding at the beginning of the period |  | 928.3000 |
| Number of shares issued |  | 0.0000 |
| Number of shares redeemed |  | 0.0000 |
| Number of shares outstanding at the end of the period |  | 928.3000 |
| Class |  | U-X-dist |
| Number of shares outstanding at the beginning of the period |  | 4 355.9030 |
| Number of shares issued |  | 0.0000 |
| Number of shares redeemed |  | -374.0870 |
| Number of shares outstanding at the end of the period |  | 3 981.8160 |
| Annual Distribution 1 |  |  |
| UBS (Lux) Bond SICAV – Global Corporates (USD)	Ex-Date | Pay-Date | Currency	Amount per share |
| I-X-UKdist	17.6.2019 | 20.6.2019 | USD	3.39 |
| I-X-UKdist	27.8.2019 | 30.8.2019 | USD	0.01 |
| U-X-dist	1.8.2019 | 6.8.2019 | USD	375.40 |
| 1  See note 5 |  |  |

UBS (Lux) Bond SICAV – Global Corporates (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 |  |  |  |
| Notes, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	BACARDI LTD-REG-S 2.75000% 13-03.07.23 | 1 270 000.00 | 1 506 150.83 | 0.28 |
| EUR	DREAM GLOBAL FUNDING 1 SARL-REG-S 1.37500% 17-21.12.21 | 2 700 000.00 | 3 010 874.67 | 0.56 |
| EUR	FISERV INC 1.62500% 19-01.07.30 | 2 130 000.00 | 2 459 882.42 | 0.45 |
| EUR	FORD MOTOR CREDIT CO LLC 1.51400% 19-17.02.23 | 1 435 000.00 | 1 575 468.54 | 0.29 |
| EUR	MEDTRONIC GLOBAL HOLDINGS SCA 1.12500% 19-07.03.27 | 420 000.00 | 486 529.08 | 0.09 |
| EUR	TEVA PHARMACEUTICAL FINANCE II BV 4.50000% 18-01.03.25 | 325 000.00 | 352 185.94 | 0.06 |
| Total EUR |  | 9 391 091.48 | 1.73 |
| USD |  |  |  |
| USD	ABBOTT LABORATORIES 4.90000% 16-30.11.46 | 1 300 000.00 | 1 726 544.17 | 0.32 |
| USD	ABBVIE INC 4.25000% 18-14.11.28 | 1 050 000.00 | 1 157 049.81 | 0.21 |
| USD	ABBVIE INC 4.87500% 18-14.11.48 | 750 000.00 | 857 356.80 | 0.16 |
| USD	ALBEMARLE CORPORATION 5.45000% 14-01.12.44 | 1 030 000.00 | 1 199 542.02 | 0.22 |
| USD	ALIBABA GROUP HOLDING LTD 3.40000% 17-06.12.27 | 630 000.00 | 654 620.40 | 0.12 |
| USD	ALIBABA GROUP HOLDING LTD 4.20000% 17-06.12.47 | 1 065 000.00 | 1 190 470.31 | 0.22 |
| USD	ALLERGAN FUNDING SCS 3.45000% 15-15.03.22 | 885 000.00 | 904 263.52 | 0.17 |
| USD	ALLERGAN FUNDING SCS 4.75000% 15-15.03.45 | 260 000.00 | 285 797.10 | 0.05 |
| USD	ALPHABET INC 1.99800% 16-15.08.26 | 2 380 000.00 | 2 372 948.85 | 0.44 |
| USD	ALTRIA GROUP INC 4.40000% 19-14.02.26 | 820 000.00 | 886 792.53 | 0.16 |
| USD	ALTRIA GROUP INC 4.80000% 19-14.02.29 | 315 000.00 | 348 255.27 | 0.06 |
| USD	ALTRIA GROUP INC 5.95000% 19-14.02.49 | 840 000.00 | 1 011 997.81 | 0.19 |
| USD	AMERICAN EXPRESS CO 3.40000% 18-27.02.23 | 3 025 000.00 | 3 141 954.06 | 0.58 |
| USD	AMGEN INC 4.40000% 15-01.05.45 | 560 000.00 | 633 169.72 | 0.12 |
| USD	ANHEUSER-BUSCH COS 3.65000% 19-01.02.26 | 1 020 000.00 | 1 093 325.35 | 0.20 |
| USD	ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.15000% 19-23.01.25 | 465 000.00 | 506 274.14 | 0.09 |
| USD	ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.75000% 19-23.01.29 | 735 000.00 | 852 965.66 | 0.16 |
| USD	ANTHEM INC 3.65000% 17-01.12.27 | 510 000.00 | 538 594.79 | 0.10 |
| USD	APPLE INC 1.80000% 19-11.09.24 | 770 000.00 | 763 952.27 | 0.14 |
| USD	APPLE INC 3.85000% 16-04.08.46 | 1 670 000.00 | 1 887 236.44 | 0.35 |
| USD	APT PIPELINES LTD-REG-S 4.20000% 15-23.03.25 | 1 650 000.00 | 1 755 369.00 | 0.32 |
| USD	APT PIPELINES LTD-REG-S 4.25000% 17-15.07.27 | 490 000.00 | 526 901.90 | 0.10 |
| USD	AT&T INC 4.35000% 19-01.03.29 | 2 185 000.00 | 2 410 551.22 | 0.44 |
| USD	AT&T INC 4.75000% 15-15.05.46 | 1 930 000.00 | 2 157 666.27 | 0.40 |
| USD	AT&T INC 5.55000% 11-15.08.41 | 1 140 000.00 | 1 384 804.74 | 0.26 |
| USD	BARCLAYS PLC 3.68400% 17-10.01.23 | 1 110 000.00 | 1 134 484.82 | 0.21 |
| USD	BAT CAPITAL CORP 3.55700% 18-15.08.27 | 905 000.00 | 921 826.21 | 0.17 |
| USD	CANADIAN NATURAL RESOURCES LTD 2.95000% 17-15.01.23 | 780 000.00 | 793 533.39 | 0.15 |
| USD	CANADIAN NATURAL RESOURCES LTD 3.85000% 17-01.06.27 | 1 200 000.00 | 1 270 701.60 | 0.23 |
| USD	CCO LLC/CAPITAL 4.50000% 18-01.02.24 | 1 260 000.00 | 1 348 033.81 | 0.25 |
| USD	CENOVUS ENERGY INC 4.25000% 17-15.04.27 | 950 000.00 | 997 528.12 | 0.18 |
| USD	CF INDUSTRIES INC 5.15000% 14-15.03.34 | 800 000.00 | 872 000.00 | 0.16 |
| USD	CIGNA CORP 3.40000% 19-17.09.21 | 1 010 000.00 | 1 032 224.65 | 0.19 |
| USD	CIGNA CORP 4.37500% 19-15.10.28 | 1 100 000.00 | 1 220 228.46 | 0.22 |
| USD	CIGNA CORP 4.90000% 19-15.12.48 | 430 000.00 | 509 359.94 | 0.09 |
| USD	CITIGROUP INC 4.65000% 18-23.07.48 | 2 090 000.00 | 2 594 814.42 | 0.48 |
| USD	CNAC HK FINBRIDGE CO LTD-REG-S 4.12500% 18-14.03.21 | 465 000.00 | 473 282.82 | 0.09 |
| USD	CNPC GENERAL CAPITAL LTD-REG-S 3.40000% 13-16.04.23 | 650 000.00 | 667 875.00 | 0.12 |
| USD	COMCAST CORP 3.95000% 18-15.10.25 | 1 070 000.00 | 1 166 754.53 | 0.22 |
| USD	COMCAST CORP 4.15000% 18-15.10.28 | 895 000.00 | 1 008 977.62 | 0.19 |
| USD	COMCAST CORP 4.70000% 18-15.10.48 | 700 000.00 | 869 172.29 | 0.16 |
| USD	COMCAST CORP 4.95000% 18-15.10.58 | 500 000.00 | 653 065.35 | 0.12 |
| USD	CONAGRA BRANDS INC 3.80000% 18-22.10.21 | 350 000.00 | 360 354.58 | 0.07 |
| USD	CONAGRA BRANDS INC 5.40000% 18-01.11.48 | 720 000.00 | 857 065.18 | 0.16 |
| USD	CONAGRA INC 4.60000% 18-01.11.25 | 870 000.00 | 957 153.55 | 0.18 |
| USD	CORP NACIONAL DEL COBRE DE CHILE-REG-S 3.62500% 17-01.08.27 | 940 000.00 | 979 656.25 | 0.18 |
| USD	CREDIT SUISSE GROUP AG-144A 4.28200% 17-09.01.28 | 550 000.00 | 598 062.80 | 0.11 |
| USD	CVS HEALTH CORP 2.62500% 19-15.08.24 | 615 000.00 | 619 945.65 | 0.11 |
| USD	CVS HEALTH CORP 3.35000% 18-09.03.21 | 324 000.00 | 329 193.85 | 0.06 |
| USD	CVS HEALTH CORP 4.30000% 18-25.03.28 | 1 240 000.00 | 1 351 659.77 | 0.25 |
| USD	CVS HEALTH CORP 5.05000% 18-25.03.48 | 600 000.00 | 709 877.64 | 0.13 |
| USD	CVS HEALTH CORP 5.12500% 15-20.07.45 | 1 325 000.00 | 1 565 408.93 | 0.29 |
| USD	DEUTSCHE BANK AG/NEW YORK NY 3.15000% 18-22.01.21 | 1 500 000.00 | 1 502 012.70 | 0.28 |
| USD	DISCOVERY COMMUNICATIONS LLC 5.30000% 19-15.05.49 | 1 360 000.00 | 1 570 014.47 | 0.29 |
| USD	DOMINION ENERGY INC 2.85000% 16-15.08.26 | 390 000.00 | 395 225.84 | 0.07 |
| USD	ENABLE MIDSTREAM PARTNERS LP 3.90000% 15-15.05.24 | 865 000.00 | 871 757.55 | 0.16 |
| USD	ENERGY TRANSFER OPERATING LP 4.50000% 19-15.04.24 | 830 000.00 | 877 533.77 | 0.16 |
| USD	ENERGY TRANSFER PARTNERS LP 6.05000% 11-01.06.41 | 1 320 000.00 | 1 465 363.16 | 0.27 |
| USD	EXELON CORP 3.40000% 16-15.04.26 | 500 000.00 | 522 529.70 | 0.10 |
| USD	FEDEX CORP 4.55000% 16-01.04.46 | 240 000.00 | 251 401.11 | 0.05 |
| USD	FISERV INC 3.20000% 19-01.07.26 | 1 720 000.00 | 1 781 578.58 | 0.33 |
| USD	GE CAPITAL INTL FUNDING CO 2.34200% 16-15.11.20 | 1 293 000.00 | 1 291 646.87 | 0.24 |
| USD	GE CAPITAL INTL FUNDING CO 4.41800% 16-15.11.35 | 2 900 000.00 | 3 121 540.86 | 0.58 |
| USD	GENERAL ELECTRIC CO 3.15000% 12-07.09.22 | 510 000.00 | 520 034.25 | 0.10 |
| USD	GILEAD SCIENCES INC 4.75000% 15-01.03.46 | 535 000.00 | 645 771.11 | 0.12 |
| USD	HCP INC 3.87500% 14-15.08.24 | 860 000.00 | 916 842.48 | 0.17 |
| USD	HONEYWELL INTERNATIONAL INC 2.15000% 19-08.08.22 | 185 000.00 | 186 224.57 | 0.03 |
| USD	HSBC HOLDINGS PLC 5.10000% 11-05.04.21 | 1 785 000.00 | 1 854 853.65 | 0.34 |
| USD	HUMANA INC 3.12500% 19-15.08.29 | 1 130 000.00 | 1 147 247.64 | 0.21 |
| USD	ILLINOIS TOOL WORKS INC 2.65000% 16-15.11.26 | 1 335 000.00 | 1 373 224.12 | 0.25 |
| USD	IMPERIAL BRANDS FINANCE PLC-144A 2.95000% 15-21.07.20 | 1 875 000.00 | 1 881 482.43 | 0.35 |
| USD	INTERNATIONAL BUSINESS MACHINES CORP 2.85000% 19-13.05.22 | 2 150 000.00 | 2 191 122.41 | 0.40 |
| USD	INTERNATIONAL BUSINESS MACHINES CORP 3.30000% 19-15.05.26 | 2 225 000.00 | 2 341 415.78 | 0.43 |
| USD	JPMORGAN CHASE & CO 3.20000% 13-25.01.23 | 7 570 000.00 | 7 826 879.63 | 1.44 |
| USD	KINDER MORGAN INC 3.15000% 17-15.01.23 | 1 160 000.00 | 1 184 788.74 | 0.22 |
| USD	KRAFT HEINZ FOODS CO 5.00000% 13-04.06.42 | 1 125 000.00 | 1 195 158.49 | 0.22 |
| USD	KROGER CO 3.87500% 16-15.10.46 | 240 000.00 | 234 410.08 | 0.04 |
| USD	LINCOLN NATIONAL CORP 3.80000% 18-01.03.28 | 1 885 000.00 | 2 003 986.66 | 0.37 |

UBS (Lux) Bond SICAV – Global Corporates (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) |  |
|  |  |  |  |  |
| USD | LLOYDS BANKING GROUP PLC 4.45000% 18-08.05.25 | 920 000.00 | 1 001 606.57 | 0.18 |
| USD | LOWE’S COS INC 4.25000% 14-15.09.44 | 920 000.00 | 996 977.14 | 0.18 |
| USD | MARATHON OIL CORP 3.85000% 15-01.06.25 | 860 000.00 | 900 919.40 | 0.17 |
| USD | MASTERCARD INC 2.00000% 19-03.03.25 | 1 290 000.00 | 1 287 559.97 | 0.24 |
| USD | MEXICHEM SAB DE CV-REG-S 4.00000% 17-04.10.27 | 1 085 000.00 | 1 092 459.37 | 0.20 |
| USD | MEXICHEM SAB DE CV-REG-S 5.50000% 17-15.01.48 | 1 080 000.00 | 1 072 912.50 | 0.20 |
| USD | MICROSOFT CORP 3.70000% 16-08.08.46 | 1 285 000.00 | 1 469 003.13 | 0.27 |
| USD | MORGAN STANLEY 2.50000% 16-21.04.21 | 4 200 000.00 | 4 225 906.86 | 0.78 |
| USD | MPLX LP 5.20000% 17-01.03.47 | 1 090 000.00 | 1 149 581.47 | 0.21 |
| USD | NEXEN INC 6.40000% 07-15.05.37 | 1 020 000.00 | 1 422 900.00 | 0.26 |
| USD | PAYPAL HOLDINGS INC 2.65000% 19-01.10.26 | 1 165 000.00 | 1 168 010.71 | 0.22 |
| USD | PHILIP MORRIS INTERNATIONAL INC 4.25000% 14-10.11.44 | 620 000.00 | 691 987.46 | 0.13 |
| USD | QUALCOMM INC 4.30000% 17-20.05.47 | 630 000.00 | 711 787.86 | 0.13 |
| USD | RAKUTEN INC-REG-S 3.54600% 19-27.11.24 | 2 270 000.00 | 2 330 643.28 | 0.43 |
| USD | RECKITT BENCKISER TREAS SERV-144A 2.37500% 17-24.06.22 | 1 400 000.00 | 1 407 900.90 | 0.26 |
| USD | REYNOLDS AMERICAN INC 5.70000% 15-15.08.35 | 425 000.00 | 487 823.33 | 0.09 |
| USD | ROCHE HOLDINGS INC-REG-S 2.62500% 16-15.05.26 | 1 320 000.00 | 1 355 565.68 | 0.25 |
| USD | ROYAL BANK OF SCOTLAND GROUP PLC-SUB 6.10000% 13-10.06.23 | 1 260 000.00 | 1 380 413.54 | 0.25 |
| USD | ROYAL BANK OF SCOTLAND GROUP PLC 4.80000% 16-05.04.26 | 1 000 000.00 | 1 108 226.70 | 0.20 |
| USD | ROYAL BANK OF SCOTLAND GROUP PLC 3.87500% 16-12.09.23 | 2 100 000.00 | 2 184 603.96 | 0.40 |
| USD | SCENTRE GROUP TRUST 1 /2-REG-S 2.37500% 15-28.04.21 | 1 090 000.00 | 1 089 346.00 | 0.20 |
| USD | SEMPRA ENERGY 6.00000% 09-15.10.39 | 920 000.00 | 1 193 936.71 | 0.22 |
| USD | SGSP AUSTRALIA ASSETS PTY LTD-REG-S 3.25000% 16-29.07.26 | 1 450 000.00 | 1 494 421.62 | 0.28 |
| USD | SINOPEC CAPITAL 2013 LTD-REG-S 3.12500% 13-24.04.23 | 1 800 000.00 | 1 831 500.00 | 0.34 |
| USD | SOUTHERN CO 3.25000% 16-01.07.26 | 1 050 000.00 | 1 088 821.44 | 0.20 |
| USD | SOUTHERN CO 4.40000% 16-01.07.46 | 320 000.00 | 359 325.12 | 0.07 |
| USD | SUMITOMO MITSUI FIN GP INC 2.93400% 16-09.03.21 | 600 000.00 | 605 814.00 | 0.11 |
| USD | SUMITOMO MITSUI FIN GP INC-SUB 3.20200% 19-17.09.29 | 1 280 000.00 | 1 297 996.80 | 0.24 |
| USD | SUNCORP-METWAY LTD-REG-S 2.80000% 17-04.05.22 | 750 000.00 | 757 522.50 | 0.14 |
| USD | SUNTRUST BANKS INC 2.70000% 16-27.01.22 | 1 410 000.00 | 1 425 510.42 | 0.26 |
| USD | SYNGENTA FINANCE NV-144A 3.69800% 18-24.04.20 | 375 000.00 | 376 139.51 | 0.07 |
| USD | SYNGENTA FINANCE NV-144A 3.93300% 18-23.04.21 | 340 000.00 | 345 982.91 | 0.06 |
| USD | TELEFONICA EMISIONES SA 5.52000% 19-01.03.49 | 3 460 000.00 | 4 270 129.94 | 0.79 |
| USD | TELSTRA CORP LTD-REG-S 4.80000% 11-12.10.21 | 920 000.00 | 962 669.60 | 0.18 |
| USD | TEVA PHARMACEUTICAL FINANCE NL III BV 2.80000% 16-21.07.23 | 700 000.00 | 631 750.00 | 0.12 |
| USD | TIME WARNER CABLE LLC 5.00000% 09-01.02.20 | 2 197 000.00 | 2 205 954.31 | 0.41 |
| USD | UNION PACIFIC CORP 4.05000% 15-15.11.45 | 440 000.00 | 482 417.54 | 0.09 |
| USD | UNITED TECHNOLOGIES CORP 4.62500% 18-16.11.48 | 450 000.00 | 563 664.56 | 0.10 |
| USD | UNITED TECHNOLOGIES CORP 3.35000% 18-16.08.21 | 390 000.00 | 398 850.74 | 0.07 |
| USD | UNITED TECHNOLOGIES CORP 3.95000% 18-16.08.25 | 740 000.00 | 804 460.51 | 0.15 |
| USD | VALERO ENERGY CORP 4.90000% 15-15.03.45 | 1 080 000.00 | 1 227 011.11 | 0.23 |
| USD | VERIZON COMMUNICATIONS INC 3.37600% 18-15.02.25 | 550 000.00 | 580 980.95 | 0.11 |
| USD | VERIZON COMMUNICATIONS INC 3.87500% 19-08.02.29 | 450 000.00 | 497 544.70 | 0.09 |
| USD | VMWARE INC 3.90000% 17-21.08.27 | 1 010 000.00 | 1 058 100.75 | 0.20 |
| USD | VODAFONE GROUP PLC 4.37500% 13-19.02.43 | 300 000.00 | 318 432.24 | 0.06 |
| USD | WALT DISNEY CO 1.75000% 19-30.08.24 | 4 190 000.00 | 4 143 126.47 | 0.76 |
| USD | WELLS FARGO & CO 2.10000% 16-26.07.21 | 1 270 000.00 | 1 272 656.97 | 0.23 |
| USD | WELLS FARGO & CO 3.06900% 17-24.01.23 | 1 805 000.00 | 1 839 254.57 | 0.34 |
| USD | WESTPAC BANKING CORP 2.80000% 17-11.01.22 | 480 000.00 | 487 075.20 | 0.09 |
| USD | WILLIAMS COMPANIES INC 4.55000% 14-24.06.24 | 590 000.00 | 631 591.11 | 0.12 |
| USD | WILLIAMS COS INC/THE 4.30000% 14-04.03.24 | 1 170 000.00 | 1 235 809.58 | 0.23 |
| USD | WILLIAMS COS INC/THE 4.90000% 14-15.01.45 | 425 000.00 | 440 768.77 | 0.08 |
| USD | WPP FINANCE 2010 3.75000% 14-19.09.24 | 690 000.00 | 724 093.18 | 0.13 |
| USD | XLIT LTD 5.25000% 13-15.12.43 | 503 000.00 | 664 474.57 | 0.12 |
| Total USD |  |  | 160 018 616.26 | 29.51 |
| Total Notes, fixed rate |  | 169 409 707.74 | 31.24 |
| Notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S-SUB 3.250%/VAR 19-PRP | 300 000.00 | 360 576.66 | 0.06 |
| Total EUR |  | 360 576.66 | 0.06 |
| GBP |  |  |  |
| GBP	M&G PLC-REG-S-SUB 3.875%/VAR 19-20.07.49 | 450 000.00 | 594 449.80 | 0.11 |
| Total GBP |  | 594 449.80 | 0.11 |
| USD |  |  |  |
| USD	BHP BILLITON FINANCE USA-REG-S-SUB 6.750%/VAR 15-19.10.75 | 1 280 000.00 | 1 497 062.40 | 0.28 |
| USD	ELECTRICITE DE FRANCE SA-REG-S-SUB 5.625%/VAR 14-PRP | 690 000.00 | 724 500.00 | 0.13 |
| USD	ROYAL BK OF SCOTLAND GP PLC 4.519%/VAR 18-25.06.24 | 1 375 000.00 | 1 454 859.18 | 0.27 |
| Total USD |  | 3 676 421.58 | 0.68 |
| Total Notes, floating rate |  | 4 631 448.04 | 0.85 |
| Medium term notes, fixed rate |  |  |  |
| AUD |  |  |  |
| AUD	AURIZON NETWORK PTY LTD-REG-S 4.00000% 17-21.06.24 | 690 000.00 | 501 094.30 | 0.09 |
| AUD	BANCO SANTANDER SA 4.00000% 17-19.01.23 | 2 200 000.00 | 1 562 821.35 | 0.29 |
| AUD	COCA-COLA CO/THE-REG-S 2.60000% 15-09.06.20 | 960 000.00 | 653 590.71 | 0.12 |
| Total AUD |  | 2 717 506.36 | 0.50 |
| EUR |  |  |  |
| EUR	A.P. MOELLER-MAERSK-REG-S 1.75000% 18-16.03.26 | 1 000 000.00 | 1 144 366.49 | 0.21 |
| EUR	ABERTIS INFRAESTRUCTURAS SA-REG-S 1.50000% 19-27.06.24 | 400 000.00 | 456 347.61 | 0.08 |
| EUR	ABERTIS INFRAESTRUCTURAS SA-REG-S 2.37500% 19-27.09.27 | 800 000.00 | 952 342.97 | 0.18 |
| EUR	AKELIUS RESIDENTIAL PROPERTY AB-REG-S 1.75000% 17-07.02.25 | 1 200 000.00 | 1 386 608.59 | 0.26 |
| EUR	AROUNDTOWN SA-REG-S 2.00000% 18-02.11.26 | 1 200 000.00 | 1 407 828.78 | 0.26 |
| EUR	AURIZON NETWORK PTY LTD-REG-S 2.00000% 14-18.09.24 | 920 000.00 | 1 098 606.82 | 0.20 |
| EUR	AUSGRID FINANCE PTY LTD-REG-S 1.25000% 18-30.07.25 | 1 200 000.00 | 1 370 440.20 | 0.25 |
| EUR	AUSTRALIA PACIFIC AIR MELBOUNRE-REG-S 1.75000% 14-15.10.24 | 850 000.00 | 1 001 907.47 | 0.18 |
| EUR	AUTOSTRADE PER L’ITALIA SPA-REG-S 1.12500% 15-04.11.21 | 210 000.00 | 229 565.82 | 0.04 |
| EUR	BANCO SANTANDER SA-REG-S-SUB 3.25000% 16-04.04.26 | 700 000.00 | 873 604.54 | 0.16 |

UBS (Lux) Bond SICAV – Global Corporates (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) |  |
|  |  |  |  |  |
| EUR | BANK OF IRELAND GROUP PLC-REG-S 1.37500% 18-29.08.23 | 480 000.00 | 542 802.05 | 0.10 |
| EUR | BANQUE FEDER DU CREDIT MUTUEL-REG-S-SUB 3.00000% 15-11.09.25 | 600 000.00 | 747 081.18 | 0.14 |
| EUR | BARCLAYS BANK PLC-SUB 6.62500% 11-30.03.22 | 400 000.00 | 504 637.97 | 0.09 |
| EUR | BAT INTERNATIONAL FINANCE PLC-REG-S 0.87500% 15-13.10.23 | 2 800 000.00 | 3 135 188.41 | 0.58 |
| EUR | BNP PARIBAS-REG-S 1.25000% 18-19.03.25 | 2 980 000.00 | 3 427 153.45 | 0.63 |
| EUR | BNP PARIBAS-REG-S 1.00000% 18-17.04.24 | 910 000.00 | 1 033 878.36 | 0.19 |
| EUR | BNP PARIBAS-REG-S 1.12500% 18-22.11.23 | 1 300 000.00 | 1 481 512.90 | 0.27 |
| EUR | BPCE SA-REG-S 1.37500% 18-23.03.26 | 2 000 000.00 | 2 323 588.37 | 0.43 |
| EUR | CANAL DE ISABEL II GESTION SA-REG-S 1.68000% 15-26.02.25 | 700 000.00 | 815 929.98 | 0.15 |
| EUR | CNH INDUSTRIAL FINANCE EUROPE SA-REG-S 1.87500% 18-19.01.26 | 1 200 000.00 | 1 392 887.72 | 0.26 |
| EUR | COMMERZBANK AG-REG-S 0.50000% 18-28.08.23 | 780 000.00 | 869 560.55 | 0.16 |
| EUR | COMMERZBANK AG-REG-S 0.62500% 19-28.08.24 | 745 000.00 | 833 916.27 | 0.15 |
| EUR | CPI PROPERTY GROUP SA-REG-S 1.45000% 18-14.04.22 | 875 000.00 | 988 894.38 | 0.18 |
| EUR | CREDIT AGRICOLE SA LONDON-REG-S 1.37500% 18-13.03.25 | 2 600 000.00 | 3 009 146.23 | 0.55 |
| EUR | DANSKE BANK AS-REG-S 1.37500% 19-24.05.22 | 1 290 000.00 | 1 459 279.59 | 0.27 |
| EUR | DEUTSCHE BANK AG-REG-S 1.12500% 18-30.08.23 | 900 000.00 | 1 019 212.56 | 0.19 |
| EUR | DEUTSCHE BANK AG-REG-S 1.62500% 19-12.02.21 | 500 000.00 | 557 116.00 | 0.10 |
| EUR | DIAGEO FINANCE PLC-REG-S 2.37500% 14-20.05.26 | 660 000.00 | 826 400.11 | 0.15 |
| EUR | DNB BANK ASA-REG-S 0.05000% 19-14.11.23 | 1 065 000.00 | 1 171 051.50 | 0.22 |
| EUR | EDP FINANCE BV-REG-S 2.00000% 15-22.04.25 | 550 000.00 | 656 318.57 | 0.12 |
| EUR | EDP FINANCE BV-REG-S 1.50000% 17-22.11.27 | 1 100 000.00 | 1 288 583.70 | 0.24 |
| EUR | FORD MOTOR CREDIT CO LLC 3.02100% 19-06.03.24 | 815 000.00 | 939 217.18 | 0.17 |
| EUR | GALP GAS NATURAL DISTRIBUICAO SA-REG-S 1.37500% 16-19.09.23 | 500 000.00 | 572 515.19 | 0.11 |
| EUR | GAS NETWORKS IRELAND-REG-S 1.37500% 16-05.12.26 | 715 000.00 | 841 819.20 | 0.16 |
| EUR | GAS NETWORKS IRELAND-REG-S 0.12500% 19-04.12.24 | 915 000.00 | 1 006 407.25 | 0.19 |
| EUR | GE CAPITAL EUROPEAN FUNDING 5.37500% 09-23.01.20 | 500 000.00 | 555 420.42 | 0.10 |
| EUR | GLOBALWORTH REAL ESTATE INVEST-REG-S 3.00000% 18-29.03.25 | 1 000 000.00 | 1 190 463.44 | 0.22 |
| EUR | GOLDMAN SACHS GROUP INC-REG-S 2.00000% 15-27.07.23 | 3 850 000.00 | 4 516 520.83 | 0.83 |
| EUR | GOLDMAN SACHS GROUP INC-REG-S 1.62500% 16-27.07.26 | 1 700 000.00 | 1 997 299.49 | 0.37 |
| EUR | GOLDMAN SACHS GROUP INC-REG-S 2.00000% 18-01.11.28 | 750 000.00 | 907 994.41 | 0.17 |
| EUR | HEIDELBERGCEMENT FIN LUX SA-REG-S 1.12500% 19-01.12.27 | 735 000.00 | 823 131.20 | 0.15 |
| EUR | ING GROEP NV-REG-S 1.12500% 18-14.02.25 | 1 900 000.00 | 2 172 553.33 | 0.40 |
| EUR | ING GROEP NV-REG-S 2.00000% 18-20.09.28 | 700 000.00 | 860 872.59 | 0.16 |
| EUR | ITALGAS SPA-REG-S 1.62500% 17-19.01.27 | 900 000.00 | 1 070 564.18 | 0.20 |
| EUR | KBC GROUP NV-REG-S 1.12500% 19-25.01.24 | 800 000.00 | 914 526.43 | 0.17 |
| EUR | NET4GAS SRO-REG-S 2.50000% 14-28.07.21 | 900 000.00 | 1 028 401.64 | 0.19 |
| EUR | PETROLEOS MEXICANOS-REG-S 3.75000% 17-21.02.24 | 1 200 000.00 | 1 397 545.49 | 0.26 |
| EUR | REDEXIS GAS FINANCE BV-REG-S 1.87500% 15-27.04.27 | 2 000 000.00 | 2 272 555.62 | 0.42 |
| EUR | REN FINANCE B V-REG-S 2.50000% 15-12.02.25 | 1 300 000.00 | 1 581 668.89 | 0.29 |
| EUR | RTE EDF TRANSPORT SA-REG-S 1.00000% 16-19.10.26 | 300 000.00 | 348 250.41 | 0.06 |
| EUR | SANOFI-REG-S 1.37500% 18-21.03.30 | 1 200 000.00 | 1 466 736.74 | 0.27 |
| EUR | SANTANDER CONSUMER FINANCE SA-REG-S 1.00000% 19-27.02.24 | 1 400 000.00 | 1 585 472.64 | 0.29 |
| EUR | SCHAEFFLER AG-REG-S 2.87500% 19-26.03.27 | 545 000.00 | 649 831.65 | 0.12 |
| EUR | SGSP AUSTRALIA ASSETS PTY LTD-REG-S 2.00000% 14-30.06.22 | 650 000.00 | 749 986.84 | 0.14 |
| EUR | SKY PLC-REG-S 2.50000% 14-15.09.26 | 760 000.00 | 955 570.84 | 0.18 |
| EUR | STEDIN HOLDING NV-REG-S 0.87500% 17-24.10.25 | 610 000.00 | 698 083.73 | 0.13 |
| EUR | VODAFONE GROUP PLC-REG-S 2.50000% 19-24.05.39 | 1 345 000.00 | 1 625 379.54 | 0.30 |
| EUR | VOLKSWAGEN FINANCIAL SERVICES AG-REG-S 1.50000% 19-01.10.24 | 1 195 000.00 | 1 362 959.03 | 0.25 |
| EUR | VOLKSWAGEN LEASING GMBH-REG-S 1.62500% 18-15.08.25 | 900 000.00 | 1 033 051.73 | 0.19 |
| EUR | VONOVIA FINANCE BV-REG-S 1.62500% 19-07.10.39 | 1 000 000.00 | 1 081 229.41 | 0.20 |
| Total EUR |  |  | 74 211 788.48 | 13.68 |
| GBP |  |  |  |  |
| GBP | AA BOND CO LTD-REG-S 2.87500% 16-31.01.22 | 656 000.00 | 826 117.68 | 0.15 |
| GBP | ANGLIAN WATER SERVICES FINANCING-REG-S 4.50000% 13-22.02.26 | 535 000.00 | 765 657.02 | 0.14 |
| GBP | ANNINGTON FUNDING PLC-REG-S 2.64600% 17-12.07.25 | 1 350 000.00 | 1 803 078.59 | 0.33 |
| GBP | ARQIVA FINANCING PLC-REG-S 4.88200% 13-31.12.32 | 550 000.00 | 729 342.53 | 0.14 |
| GBP | BANK NEDERLANDSE GEMEENTEN NV-REG-S 1.37500% 15-09.12.19 | 1 000 000.00 | 1 293 603.48 | 0.24 |
| GBP | BAT INTERNATIONAL FINANCE PLC-REG-S 2.25000% 16-09.09.52 | 650 000.00 | 612 617.25 | 0.11 |
| GBP | CADENT FINANCE PLC-REG-S 2.75000% 16-22.09.46 | 900 000.00 | 1 194 220.00 | 0.22 |
| GBP | DEUTSCHE BANK AG 1.87500% 17-28.02.20 | 500 000.00 | 646 612.90 | 0.12 |
| GBP | GATWICK FUNDING LTD 5.25000% 12-23.01.26 | 585 000.00 | 871 785.21 | 0.16 |
| GBP | JPMORGAN CHASE & CO-REG-S 1.87500% 15-10.02.20 | 1 000 000.00 | 1 295 654.97 | 0.24 |
| GBP | LLOYDS BANKING GROUP PLC 2.25000% 17-16.10.24 | 780 000.00 | 1 034 833.36 | 0.19 |
| GBP | PHOENIX GROUP HOLDINGS PLC-REG-S-SUB 4.12500% 17-20.07.22 | 1 550 000.00 | 2 091 056.58 | 0.39 |
| GBP | THAMES WATER UTILITIES FINANCE PLC 5.12500% 06-28.09.37 | 850 000.00 | 1 475 514.02 | 0.27 |
| GBP | VICINITY CENTRES TRUST-REG-S 3.37500% 16-07.04.26 | 610 000.00 | 847 672.77 | 0.16 |
| GBP | WESTERN POWER DISTRIBUTION WEST MIDLAND 5.75000% 11-16.04.32 | 310 000.00 | 554 666.51 | 0.10 |
| Total GBP |  |  | 16 042 432.87 | 2.96 |
| USD |  |  |  |  |
| USD | ABN AMRO BANK NV-144A 2.65000% 18-19.01.21 | 1 950 000.00 | 1 962 235.47 | 0.36 |
| USD | BANK OF AMERICA CORP 3.87500% 15-01.08.25 | 6 370 000.00 | 6 847 116.18 | 1.26 |
| USD | GENERAL ELECTRIC CO 4.37500% 10-16.09.20 | 440 000.00 | 446 893.97 | 0.08 |
| USD | GENERAL ELECTRIC CO 6.75000% 02-15.03.32 | 760 000.00 | 984 937.35 | 0.18 |
| USD | HENKEL AG & CO KGAA-REG-S 2.00000% 17-12.06.20 | 1 410 000.00 | 1 409 436.00 | 0.26 |
| USD | MIRVAC GROUP FINANCE LTD-REG-S 3.62500% 17-18.03.27 | 1 765 000.00 | 1 818 332.30 | 0.34 |
| USD | MORGAN STANLEY 4.00000% 15-23.07.25 | 2 410 000.00 | 2 605 243.98 | 0.48 |
| USD | MORGAN STANLEY-SUB 4.35000% 14-08.09.26 | 1 000 000.00 | 1 094 160.20 | 0.20 |
| USD | PHOENIX GROUP HOLDINGS PLC-REG-S-SUB 5.37500% 17-06.07.27 | 785 000.00 | 816 400.00 | 0.15 |
| USD | SAUDI ARABIAN OIL CO-REG-S 2.87500% 19-16.04.24 | 200 000.00 | 202 800.00 | 0.04 |
| USD | SAUDI ARABIAN OIL CO-REG-S 3.50000% 19-16.04.29 | 590 000.00 | 616 181.25 | 0.12 |
| USD | SAUDI ARABIAN OIL CO-REG-S 4.37500% 19-16.04.49 | 200 000.00 | 219 875.00 | 0.04 |
| USD | WALT DISNEY CO/THE 1.85000% 16-30.07.26 | 210 000.00 | 207 191.89 | 0.04 |
| USD | WELLS FARGO & CO 2.62500% 17-22.07.22 | 1 330 000.00 | 1 346 035.02 | 0.25 |
| Total USD |  |  | 20 576 838.61 | 3.80 |
| Total Medium term notes, fixed rate |  | 113 548 566.32 | 20.94 |
| Medium term notes, zero coupon |  |  |  |
| EUR |  |  |  |
| EUR	SANOFI-REG-S 0.00000% 16-13.01.20 | 1 000 000.00 | 1 102 818.31 | 0.20 |
| Total EUR |  | 1 102 818.31 | 0.20 |
| Total Medium term notes, zero coupon |  | 1 102 818.31 | 0.20 |
| UBS (Lux) Bond SICAV – Global Corporates (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) |  |
| Medium term notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	ALLIANZ SE-REG-S-SUB 4.750%/3M EURIBOR+360BP 13-PRP | 300 000.00 | 380 746.31 | 0.07 |
| EUR	AXA SA-REG-S-SUB 3.250%/VAR 18-28.05.49 | 1 700 000.00 | 2 135 196.81 | 0.39 |
| EUR	AXA SA-REG-S-SUB 3.375%/VAR 16-06.07.47 | 1 200 000.00 | 1 512 304.99 | 0.28 |
| EUR	BARCLAYS PLC-REG-S-SUB 2.625%/VAR 15-11.11.25 | 1 400 000.00 | 1 569 137.84 | 0.29 |
| EUR	COMMONWEALTH BK OF AUSTRLIA-REG-S-SUB 1.936%/VAR 17-03.10.29 | 1 000 000.00 | 1 143 219.78 | 0.21 |
| EUR	DBS GROUP HOLDINGS LTD-REG-S-SUB 1.500%/VAR 18-11.04.28 | 1 200 000.00 | 1 340 089.41 | 0.25 |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S-SUB 2.625%/VAR 18-PRP | 1 400 000.00 | 1 638 187.95 | 0.30 |
| EUR	NATIONWIDE BUILDING SOCIETY-REG-S-SUB 2.000%/VAR 17-25.07.29 | 1 100 000.00 | 1 251 980.19 | 0.23 |
| EUR	ROYAL BK OF SCOTLAND GP PLC-REG-S 2.000%/VAR 18-04.03.25 | 700 000.00 | 810 418.72 | 0.15 |
| EUR	SVENSKA HANDELSBANKEN AB-REG-S-SUB 1.625%/VAR 18-05.03.29 | 1 200 000.00 | 1 382 244.94 | 0.26 |
| EUR	TOTAL SA-REG-S-SUB 2.625%/VAR 15-PRP | 695 000.00 | 823 091.89 | 0.15 |
| EUR	UBS AG-REG-S-SUB 4.750%/VAR 14-12.02.26 | 665 000.00 | 768 973.91 | 0.14 |
| Total EUR |  | 14 755 592.74 | 2.72 |
| GBP |  |  |  |
| GBP	AVIVA PLC-REG-S-SUB 5.125%VAR 15-04.06.50 | 1 035 000.00 | 1 540 212.24 | 0.28 |
| GBP	BARCLAYS PLC-REG-S 2.375%/VAR 17-06.10.23 | 900 000.00 | 1 179 987.09 | 0.22 |
| GBP	CYBG PLC-REG-S 3.375%/VAR 18-24.04.26 | 1 000 000.00 | 1 287 912.28 | 0.24 |
| GBP	IMPERIAL BRANDS FIN-REG-S 9.000%/RATING LINKED 09-17.02.22 | 400 000.00 | 600 039.13 | 0.11 |
| GBP	M&G PLC-REG-S-SUB 5.000%/VAR 15-20.07.55 | 750 000.00 | 1 078 808.10 | 0.20 |
| GBP	MARKS & SPENCER PLC 6.125%/RATING LINKED 09-02.12.19 | 2 000 000.00 | 2 587 000.00 | 0.48 |
| GBP	YORKSHIRE WATER SERVICES FIN-REG-S 3.750%/VAR 10-22.03.46 | 550 000.00 | 738 412.34 | 0.13 |
| Total GBP |  | 9 012 371.18 | 1.66 |
| USD |  |  |  |
| USD	DBS GROUP HOLDINGS LTD-REG-S-SUB 3.600%/VAR 16-PRP | 995 000.00 | 1 000 900.35 | 0.19 |
| Total USD |  | 1 000 900.35 | 0.19 |
| Total Medium term notes, floating rate |  | 24 768 864.27 | 4.57 |
| Bonds, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	ABBOTT IRELAND FINCING DAC-REG-S 0.87500% 18-27.09.23 | 930 000.00 | 1 055 571.45 | 0.19 |
| EUR	ADO PROPERTIES SA-REG-S 1.50000% 17-26.07.24 | 1 500 000.00 | 1 640 880.50 | 0.30 |
| EUR	ALLERGAN FUNDING SCS 2.12500% 17-01.06.29 | 610 000.00 | 737 654.66 | 0.14 |
| EUR	ALLERGAN FUNDING SCS 2.62500% 18-15.11.28 | 605 000.00 | 763 482.39 | 0.14 |
| EUR	BUZZI UNICEM SPA-REG-S 2.12500% 16-28.04.23 | 840 000.00 | 975 867.93 | 0.18 |
| EUR	CDP RETI SPA-REG-S 1.87500% 15-29.05.22 | 950 000.00 | 1 075 988.31 | 0.20 |
| EUR	CHUBB INA HOLDINGS INC 2.50000% 18-15.03.38 | 1 700 000.00 | 2 254 751.07 | 0.42 |
| EUR	DXC TECHNOLOGY CO 1.75000% 18-15.01.26 | 1 100 000.00 | 1 203 360.88 | 0.22 |
| EUR	FCC AQUALIA SA-REG-S 2.62900% 17-08.06.27 | 635 000.00 | 750 396.51 | 0.14 |
| EUR	IMPERIAL BRANDS FINANCE PLC-REG-S 1.37500% 17-27.01.25 | 525 000.00 | 591 119.57 | 0.11 |
| EUR	ITALY, REPUBLIC OF-BTP 1.35000% 15-15.04.22 | 2 000 000.00 | 2 269 230.19 | 0.42 |
| EUR	KRAFT HEINZ FOODS CO-REG-S 2.25000% 16-25.05.28 | 500 000.00 | 587 829.14 | 0.11 |
| EUR	LIBERTY MUTUAL GROUP INC-REG-S 2.75000% 16-04.05.26 | 680 000.00 | 838 990.39 | 0.15 |
| EUR	MEDTRONIC GLOBAL HOLDINGS SCA 2.25000% 19-07.03.39 | 410 000.00 | 521 557.95 | 0.10 |
| EUR	MYLAN NV-REG-S 3.12500% 16-22.11.28 | 900 000.00 | 1 124 392.67 | 0.21 |
| EUR	PETROLEOS MEXICANOS-REG-S 5.50000% 05-24.02.25 | 400 000.00 | 499 202.15 | 0.09 |
| EUR	RESA SA/BELGIUM-REG-S 1.00000% 16-22.07.26 | 900 000.00 | 1 016 774.09 | 0.19 |
| EUR	SIKA CAPITAL BV-REG-S 0.87500% 19-29.04.27 | 550 000.00 | 627 048.62 | 0.12 |
| EUR	TAURON POLSKA ENERGIA SA-REG-S 2.37500% 17-05.07.27 | 1 020 000.00 | 1 194 717.82 | 0.22 |
| EUR	TDF INFRASTRUCTURE SAS 2.87500% 15-19.10.22 | 600 000.00 | 701 849.01 | 0.13 |
| EUR	TEVA PHARMACEUTICAL FINANCE II BV-REG-S 1.12500% 16-15.10.24 | 1 300 000.00 | 1 225 539.90 | 0.23 |
| EUR	TLG IMMOBILIEN AG-REG-S 0.37500% 19-23.09.22 | 500 000.00 | 553 483.14 | 0.10 |
| EUR	TRANSPORT ET INFRASTRUCTURES GAZ-REG-S 2.20000% 15-05.08.25 | 700 000.00 | 843 444.89 | 0.15 |
| EUR	UMG GROUPE VYV 1.62500% 19-02.07.29 | 800 000.00 | 922 832.10 | 0.17 |
| EUR	VERIZON COMMUNICATIONS INC 2.87500% 17-15.01.38 | 700 000.00 | 930 069.04 | 0.17 |
| EUR	VOLKSWAGEN INTERNATIONAL FIN NV-REG-S 1.12500% 17-02.10.23 | 1 700 000.00 | 1 921 119.30 | 0.35 |
| EUR	VOLKSWAGEN INTERNATIONAL FIN NV-REG-S 4.12500% 18-16.11.38 | 1 500 000.00 | 2 105 289.00 | 0.39 |
| EUR	VONOVIA FINANCE BV-REG-S 0.75000% 18-15.01.24 | 300 000.00 | 336 770.43 | 0.06 |
| EUR	VVO-YHTYMA OYJ-REG-S 1.62500% 16-17.10.23 | 860 000.00 | 985 678.23 | 0.18 |
| Total EUR |  | 30 254 891.33 | 5.58 |
| GBP |  |  |  |
| GBP	BARCLAYS BANK PLC-SUB 9.50000% 96-07.08.21 | 1 050 000.00 | 1 529 133.79 | 0.28 |
| GBP	BUPA FINANCE PLC-REG-S-SUB 5.00000% 13-25.04.23 | 330 000.00 | 467 918.46 | 0.09 |
| GBP	NORTHUMBRIAN WATER FINANCE PLC-REG-S 1.62500% 16-11.10.26 | 660 000.00 | 848 674.82 | 0.16 |
| GBP	ROTHESAY LIFE PLC-REG-S-SUB 3.37500% 19-12.07.26 | 2 750 000.00 | 3 540 655.51 | 0.65 |
| GBP	SCOTTISH WIDOWS PLC-REG-S-SUB 5.50000% 13-16.06.23 | 820 000.00 | 1 178 808.28 | 0.22 |
| GBP	TESCO PROPERTY FINANCE 4 PLC 5.80060% 11-13.10.40 | 375 000.00 | 619 380.76 | 0.11 |
| Total GBP |  | 8 184 571.62 | 1.51 |
| USD |  |  |  |
| USD	AMERICAN AIRLINES PASS THROUGH TRUST 4.37500% 14-01.10.22 | 680 000.00 | 391 939.52 | 0.07 |
| USD	BALTIMORE GAS & ELECTRIC CO 3.50000% 16-15.08.46 | 750 000.00 | 779 032.88 | 0.14 |
| USD	CITIGROUP INC 3.87500% 13-25.10.23 | 4 290 000.00 | 4 555 949.97 | 0.84 |
| USD	CNAC HK FINBRIDGE CO LTD-REG-S 3.50000% 17-19.07.22 | 700 000.00 | 711 812.50 | 0.13 |
| USD	CNAC HK FINBRIDGE CO LTD-REG-S 4.62500% 18-14.03.23 | 895 000.00 | 941 987.50 | 0.17 |
| USD	CONSUMERS ENERGY COMPANY 3.25000% 16-15.08.46 | 350 000.00 | 358 390.17 | 0.07 |
| USD	CPI PROPERTY GROUP SA-REG-S 4.75000% 19-08.03.23 | 640 000.00 | 672 000.00 | 0.12 |
| USD	GOLDMAN SACHS GROUP INC-SUB 5.15000% 15-22.05.45 | 1 080 000.00 | 1 328 395.03 | 0.25 |
| USD	KROGER CO 3.70000% 17-01.08.27 | 1 335 000.00 | 1 428 769.87 | 0.26 |
| USD	MEXICO CITY AIRPORT TRUST-REG-S 5.50000% 17-31.07.47 | 737 000.00 | 740 915.31 | 0.14 |
| USD	MICROSOFT CORP 2.40000% 16-08.08.26 | 710 000.00 | 722 564.09 | 0.13 |
| USD	MITSUBISHI UFJ FINANCIAL GROUP INC 2.66500% 17-25.07.22 | 765 000.00 | 773 246.70 | 0.14 |
| USD	NATL RURAL UTIL COOPERATIVE FIN CORP 3.70000% 19-15.03.29 | 560 000.00 | 613 907.90 | 0.11 |
| USD	REYNOLDS AMERICAN INC 4.45000% 15-12.06.25 | 990 000.00 | 1 060 078.73 | 0.20 |
| USD	SHELL INTERNATIONAL FINANCE BV 4.37500% 15-11.05.45 | 850 000.00 | 1 024 284.08 | 0.19 |
| USD	SOUTHERN CALIFORNIA EDISON CO 4.00000% 17-01.04.47 | 745 000.00 | 783 660.81 | 0.15 |

UBS (Lux) Bond SICAV – Global Corporates (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) |  |
|  |  |  |  |  |
| USD | SOUTHERN CALIFORNIA EDISON CO 2.85000% 19-01.08.29 | 680 000.00 | 685 103.06 | 0.13 |
| USD | SUNCOR ENERGY INC 6.50000% 07-15.06.38 | 1 210 000.00 | 1 646 483.30 | 0.30 |
| USD | VERIZON COMMUNICATIONS INC 5.25000% 17-16.03.37 | 405 000.00 | 511 778.78 | 0.10 |
| Total USD |  |  | 19 730 300.20 | 3.64 |
| Total Bonds, fixed rate |  | 58 169 763.15 | 10.73 |
| Bonds, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	AG INSURANCE SA/NV-REG-S-SUB 3.500%/VAR 15-30.06.47 | 1 100 000.00 | 1 367 499.65 | 0.25 |
| EUR	ALLIANDER NV-REG-S-SUB 1.625%/VAR 18-PRP | 365 000.00 | 421 855.09 | 0.08 |
| EUR	ATF NETHERLANDS BV-REG-S-SUB 3.750%/VAR 16-PRP | 1 200 000.00 | 1 387 622.09 | 0.26 |
| EUR	CREDIT LOGEMENT SA-SUB 4.60400%/3M EURIBOR+115BP 06-PRP | 900 000.00 | 792 959.05 | 0.15 |
| EUR	ELECTRICITE DE FRANCE SA-REG-S-SUB 4.000%/VAR 18-PRP | 800 000.00 | 955 954.20 | 0.18 |
| EUR	ELM BV-REG-S-SUB 2.600%/VAR 15-PRP | 590 000.00 | 702 563.71 | 0.13 |
| EUR	ENGIE SA-REG-S-SUB 3.250%/VAR 19-PRP | 300 000.00 | 361 734.39 | 0.07 |
| EUR	OMV AG-REG-S-SUB 2.875%/VAR 18-PRP | 800 000.00 | 940 075.52 | 0.17 |
| EUR	ORSTED A/S-REG-S-SUB 3.000%/VAR 15-06.11.3015 | 440 000.00 | 494 846.88 | 0.09 |
| EUR	ORSTED A/S-REG-S-SUB 2.250%/VAR 17-24.11.3017 | 340 000.00 | 389 879.36 | 0.07 |
| EUR	RABOBANK NEDERLAND NV REG-S 5.500%/VAR 15-PRP | 3 000 000.00 | 3 395 847.02 | 0.63 |
| EUR	SWISS LIFE AG VIA DEMETER INV BV-SUB 4.375%/VAR 15-PRP | 1 000 000.00 | 1 265 557.78 | 0.23 |
| EUR	UNIBAIL-RODAMCO SE-REG-S-SUB 2.125%/VAR 18-PRP | 700 000.00 | 786 222.16 | 0.14 |
| EUR	UNIBAIL-RODAMCO SE-REG-S-SUB 2.875%/VAR 18-PRP | 700 000.00 | 810 411.00 | 0.15 |
| EUR	VOLKSWAGEN INTL FINANCE NV-REG-S-SUB 3.375%/VAR 18-PRP | 1 500 000.00 | 1 746 518.40 | 0.32 |
| EUR	VONOVIA FINANCE BV-REG-S-SUB 4.000%/VAR 14-PRP | 700 000.00 | 823 582.88 | 0.15 |
| Total EUR |  | 16 643 129.18 | 3.07 |
| GBP |  |  |  |
| GBP	BUPA FINANCE PLC 6.125%/VAR 04-PRP | 520 000.00 | 696 161.70 | 0.13 |
| GBP	HSBC BANK CAPITAL FUNDING STERLING-SUB 5.86200%/VAR 04-PRP | 350 000.00 | 458 949.97 | 0.08 |
| GBP	M&G PLC-REG-S-SUB 5.625%/VAR 18-20.10.51 | 1 900 000.00 | 2 796 715.75 | 0.52 |
| GBP	SSE PLC-REG-S-SUB 3.875%/VAR 15-PRP | 595 000.00 | 774 896.78 | 0.14 |
| Total GBP |  | 4 726 724.20 | 0.87 |
| USD |  |  |  |
| USD	HUANENG HONG KONG CAPITAL LTD-REG-S 3.600%/VAR 17-PRP | 1 030 000.00 | 1 029 034.38 | 0.19 |
| USD	QBE INSURANCE GROUP LTD-REG-S-SUB 6.750%/VAR 14-02.12.44 | 2 070 000.00 | 2 307 801.60 | 0.42 |
| USD	SCOR SE-REG-S-SUB 5.250%/VAR 18-PRP | 1 800 000.00 | 1 773 000.00 | 0.33 |
| USD	WESTPAC BANKING CORP-SUB 5.000%/VAR 17-PRP | 1 750 000.00 | 1 731 992.50 | 0.32 |
| Total USD |  | 6 841 828.48 | 1.26 |
| Total Bonds, floating rate |  | 28 211 681.86 | 5.20 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 399 842 849.69 | 73.73 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Notes, fixed rate |  |  |  |
| CAD |  |  |  |
| CAD	ROYAL BANK OF CANADA 1.65000% 16-15.07.21 | 2 850 000.00 | 2 133 342.75 | 0.39 |
| CAD	TELUS CORP 3.75000% 14-17.01.25 | 310 000.00 | 245 217.99 | 0.05 |
| CAD	TORONTO-DOMINION BANK 2.04500% 16-08.03.21 | 2 650 000.00 | 1 995 884.43 | 0.37 |
| Total CAD |  | 4 374 445.17 | 0.81 |
| USD |  |  |  |
| USD	ABB FINANCE USA INC 2.87500% 12-08.05.22 | 900 000.00 | 918 247.77 | 0.17 |
| USD	ABBVIE INC 2.90000% 13-06.11.22 | 790 000.00 | 804 589.49 | 0.15 |
| USD	ABBVIE INC 4.40000% 13-06.11.42 | 880 000.00 | 949 760.50 | 0.18 |
| USD	ALTRIA GROUP INC 4.25000% 12-09.08.42 | 2 200 000.00 | 2 214 432.44 | 0.41 |
| USD	AMAZON.COM INC 2.80000% 18-22.08.24 | 2 540 000.00 | 2 626 993.98 | 0.48 |
| USD	APACHE CORP 4.25000% 12-15.01.44 | 1 710 000.00 | 1 499 593.75 | 0.28 |
| USD	AUSTRALIA & NEW ZEALAND BNK-REG-S-SUB 4.50000% 14-19.03.24 | 1 200 000.00 | 1 276 638.12 | 0.24 |
| USD	BNP PARIBAS-144A 4.40000% 18-14.08.28 | 1 360 000.00 | 1 511 146.19 | 0.28 |
| USD	BRISTOL-MYERS SQUIBB CO-144A 2.60000% 19-16.05.22 | 350 000.00 | 355 986.68 | 0.07 |
| USD	BRISTOL-MYERS SQUIBB CO-144A 4.25000% 19-26.10.49 | 1 625 000.00 | 1 929 895.66 | 0.36 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.62500% 18-15.01.24 | 1 950 000.00 | 2 006 655.88 | 0.37 |
| USD	BURLINGTON NORTHERN SANTA FE LLC 5.40000% 11-01.06.41 | 800 000.00 | 1 042 040.24 | 0.19 |
| USD	CCO LLC/CAPITAL 5.37500% 17-01.05.47 | 425 000.00 | 473 351.01 | 0.09 |
| USD	CHEVRON PHILLIPS CHEMICAL CO LLC-144A 3.30000% 18-01.05.23 | 2 460 000.00 | 2 541 564.01 | 0.47 |
| USD	CITIGROUP INC-SUB 4.60000% 16-09.03.26 | 550 000.00 | 605 346.78 | 0.11 |
| USD	COMMONWEALTH BANK OF AUSTRALIA-144A 2.05000% 17-18.09.20 | 895 000.00 | 894 606.20 | 0.16 |
| USD	CREDIT SUISSE NEW YORK 3.00000% 14-29.10.21 | 950 000.00 | 966 876.37 | 0.18 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 5.30000% 19-01.10.29 | 1 965 000.00 | 2 175 069.89 | 0.40 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 8.35000% 16-15.07.46 | 1 640 000.00 | 2 200 443.76 | 0.41 |
| USD	DIAGEO CAPITAL PLC 3.87500% 13-29.04.43 | 690 000.00 | 785 920.41 | 0.14 |
| USD	DIAMONDBACK ENERGY INC 3.25000% 19-01.12.26 | 610 000.00 | 609 884.10 | 0.11 |
| USD	EASTMAN CHEMICAL CO 2.70000% 14-15.01.20 | 77 000.00 | 77 018.93 | 0.01 |
| USD	EATON CORP 4.15000% 13-02.11.42 | 760 000.00 | 861 219.61 | 0.16 |
| USD	ELECTRICITE DE FRANCE-REG-S 6.95000% 09-26.01.39 | 525 000.00 | 755 109.18 | 0.14 |
| USD	ENERGY TRANSFER PARTNERS LP 6.00000% 18-15.06.48 | 1 060 000.00 | 1 209 200.62 | 0.22 |
| USD	ENLINK MIDSTREAM PARTNERS LP 4.40000% 14-01.04.24 | 1 000 000.00 | 920 000.00 | 0.17 |
| USD	ENTERPRISE PRODUCTS OPERATING LLC 4.85000% 13-15.03.44 | 750 000.00 | 857 859.75 | 0.16 |
| USD	ERAC USA FINANCE LLC-144A 5.62500% 12-15.03.42 | 730 000.00 | 920 562.48 | 0.17 |
| USD	FREEPORT-MCMORAN INC 3.87500% 13-15.03.23 | 1 250 000.00 | 1 275 500.00 | 0.24 |
| USD	GENERAL ELECTRIC CO 4.12500% 12-09.10.42 | 34 000.00 | 35 895.60 | 0.01 |
| USD	GENERAL MOTORS FINANCIAL CO 4.35000% 18-09.04.25 | 2 170 000.00 | 2 286 107.37 | 0.42 |
| USD	GILEAD SCIENCES INC 4.80000% 14-01.04.44 | 740 000.00 | 888 529.39 | 0.16 |
| USD	GLENCORE FUNDING LLC-144A 4.87500% 19-12.03.29 | 1 100 000.00 | 1 191 511.09 | 0.22 |
| USD	HARTFORD FINANCIAL SERVICES GROUP INC 4.30000% 13-15.04.43 | 815 000.00 | 907 721.24 | 0.17 |
| USD	HARTFORD FINANCIAL SERVICES GROUP INC 4.40000% 18-15.03.48 | 1 080 000.00 | 1 241 016.44 | 0.23 |
| USD	HOME DEPOT INC/THE 4.87500% 13-15.02.44 | 570 000.00 | 726 551.58 | 0.13 |
| USD	JPMORGAN CHASE & CO-SUB 3.62500% 16-01.12.27 | 1 600 000.00 | 1 689 415.84 | 0.31 |
| USD	KINDER MORGAN INC-144A 5.62500% 13-15.11.23 | 800 000.00 | 884 719.04 | 0.16 |

UBS (Lux) Bond SICAV – Global Corporates (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) |  |
|  |  |  |  |  |
| USD | KRAFT HEINZ FOODS CO-144A 4.87500% 15-15.02.25 | 547 000.00 | 562 493.89 | 0.10 |
| USD | KROGER CO 4.65000% 17-15.01.48 | 200 000.00 | 219 290.04 | 0.04 |
| USD | LIBERTY MUTUAL GROUP INC-144A 4.56900% 19-01.02.29 | 967 000.00 | 1 089 213.62 | 0.20 |
| USD | LLOYDS BANKING GROUP PLC 4.37500% 18-22.03.28 | 1 010 000.00 | 1 107 614.99 | 0.20 |
| USD | MERCK & CO INC 3.70000% 15-10.02.45 | 290 000.00 | 326 172.16 | 0.06 |
| USD | METROPOLITAN LIFE GLOBAL FUNDING-144A 2.40000% 18-08.01.21 | 1 035 000.00 | 1 040 265.15 | 0.19 |
| USD | MICROSOFT CORP 3.50000% 12-15.11.42 | 690 000.00 | 758 976.54 | 0.14 |
| USD | MORGAN STANLEY 6.37500% 12-24.07.42 | 570 000.00 | 845 353.83 | 0.16 |
| USD | MOTIVA ENTERPRISES LLC-144A 6.85000% 10-15.01.40 | 620 000.00 | 751 606.22 | 0.14 |
| USD | MPLX LP-144A 4.25000% 19-01.12.27 | 400 000.00 | 419 416.08 | 0.08 |
| USD | NBC UNIVERSAL INC 4.37500% 11-01.04.21 | 2 330 000.00 | 2 402 771.96 | 0.44 |
| USD | NORDEA BANK ABP-144A 2.12500% 17-29.05.20 | 1 210 000.00 | 1 211 161.72 | 0.22 |
| USD | ONCOR ELECTRIC DELIVERY CO 3.70000% 19-15.11.28 | 700 000.00 | 768 829.60 | 0.14 |
| USD | ORIGIN ENERGY FINANCE LTD-REG-S 5.45000% 11-14.10.21 | 840 000.00 | 883 570.80 | 0.16 |
| USD | PHILLIPS 66 PARTNERS LP 4.68000% 15-15.02.45 | 450 000.00 | 485 966.25 | 0.09 |
| USD | PPL CAPITAL FUNDING INC 4.70000% 13-01.06.43 | 1 360 000.00 | 1 544 774.09 | 0.28 |
| USD | SOUTHWESTERN ELECTRIC POWER 6.20000% 10-15.03.40 | 1 660 000.00 | 2 212 364.33 | 0.41 |
| USD | SUMITOMO MITSUI BANKING 2.51400% 18-17.01.20 | 1 440 000.00 | 1 440 417.60 | 0.27 |
| USD | SWISS RE TREASURY (US) CORP-144A 4.25000% 12-06.12.42 | 630 000.00 | 720 274.59 | 0.13 |
| USD | TEACHERS INSURANCE&ANNUITY ASS-144A-SUB 4.90000% 14-15.09.44 | 715 000.00 | 896 305.84 | 0.17 |
| USD | TEVA PHARMACEUTICAL FINANCE IV LLC 3.65000% 11-10.11.21 | 400 000.00 | 392 495.01 | 0.07 |
| USD | UNITD AIRLNS 2016-1 CL B PAS THRUGH TRT 3.65000% 17-07.01.26 | 355 000.00 | 314 707.94 | 0.06 |
| USD | VIRGINIA ELECTRIC & POWER CO 4.00000% 16-15.11.46 | 730 000.00 | 820 818.35 | 0.15 |
| USD | WALT DISNEY CO 6.20000% 19-15.12.34 | 2 040 000.00 | 2 890 686.52 | 0.53 |
| USD | WESTPAC BANKING CORP-SUB 4.42100% 19-24.07.39 | 1 230 000.00 | 1 330 946.10 | 0.25 |
| USD | XCEL ENERGY INC 4.80000% 11-15.09.41 | 1 510 000.00 | 1 749 430.88 | 0.32 |
| Total USD |  |  | 72 302 905.49 | 13.33 |
| Total Notes, fixed rate |  | 76 677 350.66 | 14.14 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BK OF AMERICA CORP 3.004%/VAR 18-20.12.23 | 2 600 000.00 | 2 655 414.84 | 0.49 |
| USD	JPMORGAN CHASE & CO 2.739%/VAR 19-15.10.30 | 2 370 000.00 | 2 364 518.59 | 0.44 |
| USD	LLOYDS BANKING GROUP PLC 3.574%/3M LIBOR+120.5BP 17-07.11.28 | 1 725 000.00 | 1 782 084.56 | 0.33 |
| USD	STANDARD CHARTERED PLC-REG-S 3.885%/VAR 18-15.03.24 | 3 900 000.00 | 4 035 900.57 | 0.74 |
| USD	WESTPAC BANKING CORP-SUB 4.110%/VAR 19-24.07.34 | 1 720 000.00 | 1 780 217.20 | 0.33 |
| Total USD |  | 12 618 135.76 | 2.33 |
| Total Notes, floating rate |  | 12 618 135.76 | 2.33 |
| Medium term notes, fixed rate |  |  |  |
| AUD |  |  |  |
| AUD	AUSGRID FINANCE PTY LTD-REG-S 3.75000% 17-30.10.24 | 960 000.00 | 704 992.78 | 0.13 |
| Total AUD |  | 704 992.78 | 0.13 |
| CAD |  |  |  |
| CAD	BELL CANADA 4.75000% 14-29.09.44 | 260 000.00 | 227 451.30 | 0.04 |
| CAD	SUNCOR ENERGY INC 3.00000% 16-14.09.26 | 650 000.00 | 503 067.94 | 0.09 |
| Total CAD |  | 730 519.24 | 0.13 |
| GBP |  |  |  |
| GBP	NATIONAL GRID ELECTRICITY TRANSMISSION 4.00000% 12-08.06.27 | 670 000.00 | 1 020 008.84 | 0.19 |
| Total GBP |  | 1 020 008.84 | 0.19 |
| Total Medium term notes, fixed rate |  | 2 455 520.86 | 0.45 |
| Bonds, fixed rate |  |  |  |
| JPY |  |  |  |
| JPY	BERKSHIRE HATHAWAY FINANCE CORP 0.44000% 19-13.09.29 | 280 000 000.00 | 2 546 914.54 | 0.47 |
| Total JPY |  | 2 546 914.54 | 0.47 |
| USD |  |  |  |
| USD	AT&T INC 3.00000% 12-15.02.22 | 1 070 000.00 | 1 091 572.81 | 0.20 |
| USD	COMCAST CORP 4.75000% 14-01.03.44 | 380 000.00 | 463 854.64 | 0.09 |
| USD	DUKE ENERGY CAROLINAS LLC 4.00000% 12-30.09.42 | 1 145 000.00 | 1 289 046.27 | 0.24 |
| USD	FIVE CORNERS FUNDING TRUST-144A 4.41900% 13-15.11.23 | 2 410 000.00 | 2 606 972.67 | 0.48 |
| USD	MONONGAHELA POWER CO-144A 5.40000% 13-15.12.43 | 630 000.00 | 834 549.60 | 0.15 |
| USD	PACIFICORP 6.00000% 09-15.01.39 | 1 265 000.00 | 1 753 590.31 | 0.32 |
| USD	PHILLIPS 66 4.65000% 14-15.11.34 | 650 000.00 | 763 457.30 | 0.14 |
| USD	TIME WARNER CABLE LLC 4.50000% 12-15.09.42 | 795 000.00 | 796 172.78 | 0.15 |
| USD	UBS GROUP AG-144A 2.95000% 15-24.09.20 | 1 900 000.00 | 1 914 454.25 | 0.35 |
| Total USD |  | 11 513 670.63 | 2.12 |
| Total Bonds, fixed rate |  | 14 060 585.17 | 2.59 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 105 811 592.45 | 19.51 |

Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market
Notes, fixed rate
| USD |  |
| --- | --- |
| USD | NOBLE ENERGY INC 3.85000% 17-15.01.28 | 700 000.00 | 727 352.43 | 0.13 |
| Total USD |  |  | 727 352.43 | 0.13 |
| Total Notes, fixed rate | 727 352.43 | 0.13 |
| Total Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market | 727 352.43 | 0.13 |

UBS (Lux) Bond SICAV – Global Corporates (USD) Semi-Annual Report as of 30 November 2019
Recently issued transferable securities and money market instruments
Notes, fixed rate
USD
| USD | BRISTOL MYERS SQUIBB CO-144A 3.87500% 19-15.08.25 | 1 390 000.00 | 1 500 512.78 | 0.28 |
| --- | --- | --- | --- | --- |
| Total USD | 1 500 512.78 | 0.28 |
| Total Notes, fixed rate | 1 500 512.78 | 0.28 |
| Total Recently issued transferable securities and money market instruments | 1 500 512.78 | 0.28 |
| Derivative instruments not listed on an official stock exchange and not traded on another regulated market |  |  |
| Options on other swaps, classic-styled |  |  |
| EUR |  |  |
| EUR	BARCLAYS/ITRX.EUR.S32 SWAPTION PUT 62.50000% 18.12.19	19 000 000.00 | 11 073.85 | 0.00 |
| Total EUR | 11 073.85 | 0.00 |
| Total Options on other swaps, classic-styled | 11 073.85 | 0.00 |
| Total Derivative instruments not listed on an official stock exchange and not traded on another regulated market | 11 073.85 | 0.00 |
| Total investments in securities | 507 893 381.20 | 93.65 |
| Derivative instruments |  |  |
| Derivative instruments listed on an official stock exchange |  |  |
| Financial Futures on bonds |  |  |
|  |  |  |
| EUR	EURO-BUND FUTURE 06.12.19	-108.00 | 547 771.68 | 0.10 |
| EUR	EURO-BOBL FUTURE 06.12.19	-29.00 | 67 148.34 | 0.01 |
| GBP	LONG GILT FUTURE 27.03.20	-64.00 | 60 432.32 | 0.01 |
| CAD	CANADA 10YR BOND FUTURE 20.03.20	69.00 | 2 077.92 | 0.00 |
| USD	US 5YR TREASURY NOTE FUTURE 31.03.20	455.00 | -17 773.66 | 0.00 |
| USD	US ULTRA LONG BOND (CBT) FUTURE 20.03.20	-40.00 | -3 750.00 | 0.00 |
| USD	US 10YR TREASURY NOTE FUTURE 20.03.20	380.00 | -65 312.50 | -0.01 |
| Total Financial Futures on bonds | 590 594.10 | 0.11 |
| Total Derivative instruments listed on an official stock exchange | 590 594.10 | 0.11 |
| Derivative instruments not listed on an official stock exchange and not traded on another regulated market |  |  |
| Credit default swaps* |  |  |
|  |  |  |
| USD	JP MORGAN/TCKBCN CREDIT DEFAULT SWAP REC 1.00000% 14-20.03.20	190 000.00 | 883.60 | 0.00 |
| USD	BARCLAYS/TCKBCN CREDIT DEFAULT SWAP REC 1.00000% 15-20.09.20	215 000.00 | 1 964.02 | 0.00 |
| Total Credit default swaps | 2 847.62 | 0.00 |
| Total Derivative instruments not listed on an official stock exchange and not traded on another regulated market | 2 847.62 | 0.00 |
| Total Derivative instruments | 593 441.72 | 0.11 |
| Forward Foreign Exchange contracts |  |  |
| Forward Foreign Exchange contracts (Purchase/Sale) |  |  |

| USD | 3 364 499.84 | JPY | 362 900 000.00 | 5.12.2019 | 50 080.48 | 0.01 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 34 210 630.55 | GBP | 26 435 000.00 | 5.12.2019 | 13 786.16 | 0.00 |
| USD | 5 649 541.38 | CAD | 7 430 000.00 | 5.12.2019 | 55 714.92 | 0.01 |
| USD | 154 897 773.36 | EUR | 138 480 000.00 | 5.12.2019 | 2 177 189.49 | 0.40 |
| USD | 3 386 767.29 | AUD | 4 895 000.00 | 5.12.2019 | 75 483.38 | 0.02 |
| CHF | 199 594 100.00 | USD | 202 465 711.68 | 5.12.2019 | -2 695 814.17 | -0.49 |
| EUR | 30 364 300.00 | USD | 33 964 200.32 | 5.12.2019 | -477 389.05 | -0.09 |
| USD | 6 798 580.38 | GBP | 5 295 000.00 | 5.12.2019 | -51 137.46 | -0.01 |
| USD | 1 035 317.01 | EUR | 933 400.00 | 5.12.2019 | 5 930.87 | 0.00 |
| USD | 2 787 885.73 | CHF | 2 774 200.00 | 5.12.2019 | 11 242.28 | 0.00 |
| Total Forward Foreign Exchange contracts (Purchase/Sale) | -834 913.10 | -0.15 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 32 658 515.29 | 6.02 |
| Other assets and liabilities | 2 020 804.96 | 0.37 |
| Total net assets | 542 331 230.07 | 100.00 |
| * Positive nominal: the subfund is “Receiver”, negative nominal: the subfund is “Payer”. |  |  |

UBS (Lux) Bond SICAV – Global Corporates (USD) Semi-Annual Report as of 30 November 2019

Translation (ENFR, 2019-11-30):
# UBS (Lux) Bond SICAV – Global Corporates (USD)
| Données principales |  |
| --- | --- |
|  | ISIN | 30.11.2019 | 31.5.2019 | 31.5.2018 |
| Actif net en USD |  | 542 331 230.07 | 481 560 310.90 | 556 111 844.67 |
| Catégorie (CHF hedged) I-A1-acc | LU0390863529 |  |  |  |
| Actions en circulation |  | 243 805.6740 | 229 483.2690 | 204 883.1070 |
| Valeur nette d’inventaire par action en CHF |  | 130.13 | 125.33 | 121.37 |
| Prix d’émission et de rachat par action en CHF 1 |  | 130.13 | 125.33 | 121.37 |
| Catégorie I-A2-acc | LU0390870227 |  |  |  |
| Actions en circulation |  | 400 700.2090 | 400 700.2090 | 312 162.2090 |
| Valeur nette d’inventaire par action en USD |  | 115.73 | 109.44 | 102.20 |
| Prix d’émission et de rachat par action en USD 1 |  | 115.73 | 109.44 | 102.20 |
| Catégorie I-B-acc | LU0390870730 |  |  |  |
| Actions en circulation |  | 38 441.0960 | 39 051.9810 | 47 408.4210 |
| Valeur nette d’inventaire par action en USD |  | 173.17 | 163.65 | 152.63 |
| Prix d’émission et de rachat par action en USD 1 |  | 173.17 | 163.65 | 152.63 |
| Catégorie (CHF hedged) I-B-acc | LU0390864253 |  |  |  |
| Actions en circulation |  | 175 053.6090 | 204 133.7840 | 193 631.7770 |
| Valeur nette d’inventaire par action en CHF |  | 142.50 | 136.90 | 131.94 |
| Prix d’émission et de rachat par action en CHF 1 |  | 142.50 | 136.90 | 131.94 |
| Catégorie I-X-acc | LU0390870904 |  |  |  |
| Actions en circulation |  | 925 741.2060 | 921 561.8740 | 1 260 819.8740 |
| Valeur nette d’inventaire par action en USD |  | 174.17 | 164.55 | 153.36 |
| Prix d’émission et de rachat par action en USD 1 |  | 174.17 | 164.55 | 153.36 |
| Catégorie (CHF hedged) I-X-acc | LU0390864410 |  |  |  |
| Actions en circulation |  | 881 557.0760 | 882 498.1190 | 856 424.6170 |
| Valeur nette d’inventaire par action en CHF |  | 148.43 | 142.55 | 137.30 |
| Prix d’émission et de rachat par action en CHF 1 |  | 148.43 | 142.55 | 137.30 |
| Catégorie (EUR hedged) I-X-acc | LU0390868080 |  |  |  |
| Actions en circulation |  | 240 584.4590 | 199 728.4490 | 494 512.9820 |
| Valeur nette d’inventaire par action en EUR |  | 124.64 | 119.39 | 114.47 |
| Prix d’émission et de rachat par action en EUR 1 |  | 124.64 | 119.39 | 114.47 |
| Catégorie I-X-UKdist | LU1336832081 |  |  |  |
| Actions en circulation |  | 411 136.1450 | 68 364.2440 | 70 555.1060 |
| Valeur nette d’inventaire par action en USD |  | 111.28 | 108.50 | 104.40 |
| Prix d’émission et de rachat par action en USD 1 |  | 111.28 | 108.50 | 104.40 |
| Catégorie (CHF hedged) U-X-acc | LU0390864766 |  |  |  |
| Actions en circulation |  | 928.3000 | 928.3000 | 935.3000 |
| Valeur nette d’inventaire par action en CHF |  | 13 681.39 | 13 139.63 | 12 655.21 |
| Prix d’émission et de rachat par action en CHF 1 |  | 13 681.39 | 13 139.63 | 12 655.21 |
| Catégorie U-X-dist | LU0390871035 |  |  |  |
| Actions en circulation |  | 3 981.8160 | 4 355.9030 | 5 841.5340 |
| Valeur nette d’inventaire par action en USD |  | 12 281.16 | 11 964.02 | 11 511.05 |
| Prix d’émission et de rachat par action en USD 1 |  | 12 281.16 | 11 964.02 | 11 511.05 |
| 1  Voir note 1 |  |  |  |  |

UBS (Lux) Bond SICAV – Global Corporates (USD) Rapport semestriel au 30 novembre 2019
UBS (Lux) Bond SICAV – Global Corporates (USD) Rapport semestriel au 30 novembre 2019

## Structure du portefeuille-titres
Répartition géographique en % de l’actif net	
| Etats-Unis | 44.04 |
| --- | --- |
| Grande-Bretagne | 12.46 |
| Pays-Bas | 6.58 |
| France | 5.60 |
| Australie | 4.85 |
| Luxembourg | 2.33 |
| Espagne | 2.08 |
| Canada | 2.07 |
| Allemagne | 1.90 |
| Irlande | 1.36 |
| Japon | 1.19 |
| Italie | 1.04 |
| Mexique | 0.89 |
| Iles Vierges britanniques | 0.65 |
| Danemark | 0.64 |
| Belgique | 0.61 |
| Suisse | 0.60 |
| Suède | 0.51 |
| Singapour | 0.43 |
| Finlande | 0.40 |
| Jersey | 0.40 |
| Hong Kong | 0.39 |
| Chine | 0.34 |
| Nouvelle-Zélande | 0.32 |
| Bermudes | 0.28 |
| Pologne | 0.22 |
| Roumanie | 0.22 |
| Norvège | 0.22 |
| Arabie saoudite | 0.19 |
| République tchèque | 0.19 |
| Chili | 0.18 |
| Autriche | 0.17 |
| Iles Caïmans | 0.12 |
| Portugal | 0.11 |
| Curaçao | 0.07 |
| Total | 93.65 |

Répartition économique en % de l’actif net	
| Banques & instituts de crédit | 24.34 |
| --- | --- |
| Etablissements financiers et sociétés de participation | 21.86 |
| Assurances | 6.18 |
| Pétrole | 5.00 |
| Distribution d’énergie & d’eau | 4.83 |
| Télécommunications | 4.16 |
| Produits pharmaceutiques, cosmétiques & médicaux | 3.71 |
| Immobilier | 2.78 |
| Internet, logiciels et services informatiques | 2.18 |
| Commerce de détail, centres commerciaux | 2.06 |
| Trafic et transport | 2.03 |
| Tabac et boissons alcoolisées | 1.69 |
| Equipement informatique et de réseau | 1.32 |
| Diverses sociétés non classées | 1.30 |
| Appareils et composants électriques | 1.22 |
| Chimie | 1.10 |
| Industrie graphique, édition et médias | 1.09 |
| Services divers | 1.06 |
| Alimentation & softs | 0.95 |
| Emetteurs d’obligations sécurisées (Pfandbriefe) et |  |
| sociétés de refinancement | 0.83 |
| Soins de santé & services sociaux | 0.53 |
| Biens de consommation divers | 0.52 |
| Gouvernements nationaux et centraux | 0.42 |
| Industrie minière, charbon et acier | 0.40 |
| Biotechnologie | 0.40 |
| Industrie aéronautique et spatiale | 0.36 |
| Véhicules | 0.28 |
| Machines et appareils | 0.25 |
| Métaux précieux et pierres précieuses | 0.24 |
| Fonds de placement | 0.22 |
| Bâtiment et matériaux de construction | 0.18 |
| Agriculture et pêche | 0.16 |
| Total | 93.65 |


## Etat des actifs nets
Actif	30.11.2019
USD
Portefeuille-titres, cours d’achat	491 747 056.70
| Portefeuille-titres, plus-/(moins)-value non réalisée | 	16 146 324.50	 |
| --- | --- |
| Total du Portefeuille-titres (note 1) | 507 893 381.20 |
| Avoirs en banque, dépôts à vue et à terme | 31 869 276.15 |
| Autres liquidités (marges) | 789 239.14 |
| Créances sur souscriptions | 2 995.63 |
| Intérêts à recevoir sur titres | 4 993 707.73 |
| Intérêts à recevoir sur liquidités | 333.84 |
| Bénéfice/(perte) non réalisé(e) sur contrats financiers à terme (note 1) | 590 594.10 |
| Bénéfice/(perte) non réalisé(e) sur contrats de change à terme (note 1) | -834 913.10 |
| Bénéfice/(perte) non réalisé(e) sur swaps (note 1) | 2 847.62 |
| Total de l’Actif | 545 307 462.31 |
|  |  |
| Passif |  |
| Engagements sur achats de titres (note 1) | -2 902 946.67 |
| Engagements sur rachats | -7 944.92 |
| Provisions pour commission de gestion forfaitaire (note 2) | -16 872.68 |
| Provisions pour taxe d’abonnement (note 3) | -8 842.37 |
| Provisions pour autres commissions et frais (note 2) | 	-39 625.60	 |
| Total des Provisions pour frais | -65 340.65 |
| Total du Passif | -2 976 232.24 |
|  |  |
| Actif net à la fin de la période | 542 331 230.07 |
| Etat des opérations | USD |
| Revenus | 1.6.2019-30.11.2019 |
| Revenus d’intérêts sur liquidités | 72 800.08 |
| Intérêts sur titres | 7 830 790.80 |
| Revenus d’intérêts sur swaps (note 1) | 2 070.00 |
| Revenus sur prêts de titres (note 13) | 60 043.70 |
| Total des Revenus | 7 965 704.58 |
|  |  |
| Charges |  |
| Commission de gestion forfaitaire (note 2) | -214 024.50 |
| Taxe d’abonnement (note 3) | -26 282.59 |
| Frais sur prêts de titres (note 13) | -24 017.48 |
| Autres commissions et frais (note 2) | -28 842.28 |
| Charges d’intérêts sur liquidités et crédit en compte courant | -15 758.96 |
| Total des Charges | -308 925.81 |
|  |  |
| Revenus/pertes net(te)s de placements | 7 656 778.77 |
|  |  |
| Bénéfices/(pertes) réalisé(e)s (note 1) |  |
| Bénéfice/(perte) réalisé(e) sur titres évalués à la valeur de marché hors options | 1 785 194.22 |
| Bénéfice/perte réalisé(e) sur options | -492 823.25 |
| Bénéfice/perte réalisé(e) sur contrats financiers à terme | -2 450 638.21 |
| Bénéfice/(perte) réalisé(e) sur contrats de change à terme | 7 843 769.61 |
| Bénéfice/(perte) de change réalisé(e) | -3 149 398.64 |
| Total des Bénéfices/(pertes) réalisé(e)s | 3 536 103.73 |
|  |  |
| Bénéfice/(perte) net(te) réalisé(e) au cours de la période | 11 192 882.50 |
|  |  |
| 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 | 17 629 449.71 |
| Plus-/(moins)-value non réalisée sur options | -92 557.66 |
| Plus-/(moins)-value non réalisée sur instruments du marché monétaire et titres évalués en fonction des rendements | -133.99 |
| Plus-/(moins)-value non réalisée sur contrats financiers à terme | 1 418 015.34 |
| Plus-/(moins)-value non réalisée sur contrats de change à terme | -4 622 828.96 |
| Plus-/(moins)-value non réalisée sur swaps | -1 350.83 |
| Total des Fluctuations de la plus-/(moins)-value non réalisée | 14 330 593.61 |
|  |  |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | 25 523 476.11 |

UBS (Lux) Bond SICAV – Global Corporates (USD) Rapport semestriel au 30 novembre 2019
| Fluctuations de l’actif net |  |
| --- | --- |
|  |  | USD |
|  |  | 1.6.2019-30.11.2019 |
| Actif net au début de la période |  | 481 560 310.90 |
| Souscriptions |  | 54 535 089.82 |
| Rachats |  | 	-17 472 182.94	 |
| Total des Entrées/(sorties) de capitaux |  | 37 062 906.88 |
| Dividendes versés |  | -1 815 463.82 |
| Revenus/pertes net(te)s de placements |  | 7 656 778.77 |
| Total des Bénéfices/(pertes) réalisé(e)s |  | 3 536 103.73 |
| Total des Fluctuations de la plus-/(moins)-value non réalisée |  | 	14 330 593.61	 |
| Augmentation/(diminution) nette de l’actif net issue de l’activité |  | 25 523 476.11 |
| Actif net à la fin de la période |  | 542 331 230.07 |
| Evolution des actions en circulation |  |  |
|  |  | 1.6.2019-30.11.2019 |
| Catégorie |  | (CHF hedged) I-A1-acc |
| Nombre d’actions en circulation au début de la période |  | 229 483.2690 |
| Nombre d’actions émises |  | 23 858.0000 |
| Nombre d’actions rachetées |  | -9 535.5950 |
| Nombre d’actions en circulation à la fin de la période |  | 243 805.6740 |
| Catégorie |  | I-A2-acc |
| Nombre d’actions en circulation au début de la période |  | 400 700.2090 |
| Nombre d’actions émises |  | 0.0000 |
| Nombre d’actions rachetées |  | 0.0000 |
| Nombre d’actions en circulation à la fin de la période |  | 400 700.2090 |
| Catégorie |  | I-B-acc |
| Nombre d’actions en circulation au début de la période |  | 39 051.9810 |
| Nombre d’actions émises |  | 0.0000 |
| Nombre d’actions rachetées |  | -610.8850 |
| Nombre d’actions en circulation à la fin de la période |  | 38 441.0960 |
| Catégorie |  | (CHF hedged) I-B-acc |
| Nombre d’actions en circulation au début de la période |  | 204 133.7840 |
| Nombre d’actions émises |  | 0.0000 |
| Nombre d’actions rachetées |  | -29 080.1750 |
| Nombre d’actions en circulation à la fin de la période |  | 175 053.6090 |
| Catégorie |  | I-X-acc |
| Nombre d’actions en circulation au début de la période |  | 921 561.8740 |
| Nombre d’actions émises |  | 5 187.7460 |
| Nombre d’actions rachetées |  | -1 008.4140 |
| Nombre d’actions en circulation à la fin de la période |  | 925 741.2060 |
| Catégorie |  | (CHF hedged) I-X-acc |
| Nombre d’actions en circulation au début de la période |  | 882 498.1190 |
| Nombre d’actions émises |  | 32 008.9290 |
| Nombre d’actions rachetées |  | -32 949.9720 |
| Nombre d’actions en circulation à la fin de la période |  | 881 557.0760 |
| Catégorie |  | (EUR hedged) I-X-acc |
| Nombre d’actions en circulation au début de la période |  | 199 728.4490 |
| Nombre d’actions émises |  | 56 342.0490 |
| Nombre d’actions rachetées |  | -15 486.0390 |
| Nombre d’actions en circulation à la fin de la période |  | 240 584.4590 |
| Catégorie |  | I-X-UKdist |
| Nombre d’actions en circulation au début de la période |  | 68 364.2440 |
| Nombre d’actions émises |  | 344 810.4990 |
| Nombre d’actions rachetées |  | -2 038.5980 |
| Nombre d’actions en circulation à la fin de la période |  | 411 136.1450 |
| Catégorie |  | (CHF hedged) U-X-acc |
| Nombre d’actions en circulation au début de la période |  | 928.3000 |
| Nombre d’actions émises |  | 0.0000 |
| Nombre d’actions rachetées |  | 0.0000 |
| Nombre d’actions en circulation à la fin de la période |  | 928.3000 |
| Catégorie |  | U-X-dist |
| Nombre d’actions en circulation au début de la période |  | 4 355.9030 |
| Nombre d’actions émises |  | 0.0000 |
| Nombre d’actions rachetées |  | -374.0870 |
| Nombre d’actions en circulation à la fin de la période |  | 3 981.8160 |
| Distribution annuelle 1 |  |  |
| UBS (Lux) Bond SICAV – Global Corporates (USD)	Date de détachement | Date de versement | Devise	Montant par action |
| I-X-UKdist	17.6.2019 | 20.6.2019 | USD	3.39 |
| I-X-UKdist	27.8.2019 | 30.8.2019 | USD	0.01 |
| U-X-dist	1.8.2019 | 6.8.2019 | USD	375.40 |
| 1  Voir note 5 |  |  |

UBS (Lux) Bond SICAV – Global Corporates (USD) Rapport semestriel au 30 novembre 2019

## Etat du portefeuille-titres et autres actifs nets au 30 novembre 2019
| 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 |  |  |  |
| EUR |  |  |  |
| EUR	BACARDI LTD-REG-S 2.75000% 13-03.07.23 | 1 270 000.00 | 1 506 150.83 | 0.28 |
| EUR	DREAM GLOBAL FUNDING 1 SARL-REG-S 1.37500% 17-21.12.21 | 2 700 000.00 | 3 010 874.67 | 0.56 |
| EUR	FISERV INC 1.62500% 19-01.07.30 | 2 130 000.00 | 2 459 882.42 | 0.45 |
| EUR	FORD MOTOR CREDIT CO LLC 1.51400% 19-17.02.23 | 1 435 000.00 | 1 575 468.54 | 0.29 |
| EUR	MEDTRONIC GLOBAL HOLDINGS SCA 1.12500% 19-07.03.27 | 420 000.00 | 486 529.08 | 0.09 |
| EUR	TEVA PHARMACEUTICAL FINANCE II BV 4.50000% 18-01.03.25 | 325 000.00 | 352 185.94 | 0.06 |
| Total EUR |  | 9 391 091.48 | 1.73 |
| USD |  |  |  |
| USD	ABBOTT LABORATORIES 4.90000% 16-30.11.46 | 1 300 000.00 | 1 726 544.17 | 0.32 |
| USD	ABBVIE INC 4.25000% 18-14.11.28 | 1 050 000.00 | 1 157 049.81 | 0.21 |
| USD	ABBVIE INC 4.87500% 18-14.11.48 | 750 000.00 | 857 356.80 | 0.16 |
| USD	ALBEMARLE CORPORATION 5.45000% 14-01.12.44 | 1 030 000.00 | 1 199 542.02 | 0.22 |
| USD	ALIBABA GROUP HOLDING LTD 3.40000% 17-06.12.27 | 630 000.00 | 654 620.40 | 0.12 |
| USD	ALIBABA GROUP HOLDING LTD 4.20000% 17-06.12.47 | 1 065 000.00 | 1 190 470.31 | 0.22 |
| USD	ALLERGAN FUNDING SCS 3.45000% 15-15.03.22 | 885 000.00 | 904 263.52 | 0.17 |
| USD	ALLERGAN FUNDING SCS 4.75000% 15-15.03.45 | 260 000.00 | 285 797.10 | 0.05 |
| USD	ALPHABET INC 1.99800% 16-15.08.26 | 2 380 000.00 | 2 372 948.85 | 0.44 |
| USD	ALTRIA GROUP INC 4.40000% 19-14.02.26 | 820 000.00 | 886 792.53 | 0.16 |
| USD	ALTRIA GROUP INC 4.80000% 19-14.02.29 | 315 000.00 | 348 255.27 | 0.06 |
| USD	ALTRIA GROUP INC 5.95000% 19-14.02.49 | 840 000.00 | 1 011 997.81 | 0.19 |
| USD	AMERICAN EXPRESS CO 3.40000% 18-27.02.23 | 3 025 000.00 | 3 141 954.06 | 0.58 |
| USD	AMGEN INC 4.40000% 15-01.05.45 | 560 000.00 | 633 169.72 | 0.12 |
| USD	ANHEUSER-BUSCH COS 3.65000% 19-01.02.26 | 1 020 000.00 | 1 093 325.35 | 0.20 |
| USD	ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.15000% 19-23.01.25 | 465 000.00 | 506 274.14 | 0.09 |
| USD	ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.75000% 19-23.01.29 | 735 000.00 | 852 965.66 | 0.16 |
| USD	ANTHEM INC 3.65000% 17-01.12.27 | 510 000.00 | 538 594.79 | 0.10 |
| USD	APPLE INC 1.80000% 19-11.09.24 | 770 000.00 | 763 952.27 | 0.14 |
| USD	APPLE INC 3.85000% 16-04.08.46 | 1 670 000.00 | 1 887 236.44 | 0.35 |
| USD	APT PIPELINES LTD-REG-S 4.20000% 15-23.03.25 | 1 650 000.00 | 1 755 369.00 | 0.32 |
| USD	APT PIPELINES LTD-REG-S 4.25000% 17-15.07.27 | 490 000.00 | 526 901.90 | 0.10 |
| USD	AT&T INC 4.35000% 19-01.03.29 | 2 185 000.00 | 2 410 551.22 | 0.44 |
| USD	AT&T INC 4.75000% 15-15.05.46 | 1 930 000.00 | 2 157 666.27 | 0.40 |
| USD	AT&T INC 5.55000% 11-15.08.41 | 1 140 000.00 | 1 384 804.74 | 0.26 |
| USD	BARCLAYS PLC 3.68400% 17-10.01.23 | 1 110 000.00 | 1 134 484.82 | 0.21 |
| USD	BAT CAPITAL CORP 3.55700% 18-15.08.27 | 905 000.00 | 921 826.21 | 0.17 |
| USD	CANADIAN NATURAL RESOURCES LTD 2.95000% 17-15.01.23 | 780 000.00 | 793 533.39 | 0.15 |
| USD	CANADIAN NATURAL RESOURCES LTD 3.85000% 17-01.06.27 | 1 200 000.00 | 1 270 701.60 | 0.23 |
| USD	CCO LLC/CAPITAL 4.50000% 18-01.02.24 | 1 260 000.00 | 1 348 033.81 | 0.25 |
| USD	CENOVUS ENERGY INC 4.25000% 17-15.04.27 | 950 000.00 | 997 528.12 | 0.18 |
| USD	CF INDUSTRIES INC 5.15000% 14-15.03.34 | 800 000.00 | 872 000.00 | 0.16 |
| USD	CIGNA CORP 3.40000% 19-17.09.21 | 1 010 000.00 | 1 032 224.65 | 0.19 |
| USD	CIGNA CORP 4.37500% 19-15.10.28 | 1 100 000.00 | 1 220 228.46 | 0.22 |
| USD	CIGNA CORP 4.90000% 19-15.12.48 | 430 000.00 | 509 359.94 | 0.09 |
| USD	CITIGROUP INC 4.65000% 18-23.07.48 | 2 090 000.00 | 2 594 814.42 | 0.48 |
| USD	CNAC HK FINBRIDGE CO LTD-REG-S 4.12500% 18-14.03.21 | 465 000.00 | 473 282.82 | 0.09 |
| USD	CNPC GENERAL CAPITAL LTD-REG-S 3.40000% 13-16.04.23 | 650 000.00 | 667 875.00 | 0.12 |
| USD	COMCAST CORP 3.95000% 18-15.10.25 | 1 070 000.00 | 1 166 754.53 | 0.22 |
| USD	COMCAST CORP 4.15000% 18-15.10.28 | 895 000.00 | 1 008 977.62 | 0.19 |
| USD	COMCAST CORP 4.70000% 18-15.10.48 | 700 000.00 | 869 172.29 | 0.16 |
| USD	COMCAST CORP 4.95000% 18-15.10.58 | 500 000.00 | 653 065.35 | 0.12 |
| USD	CONAGRA BRANDS INC 3.80000% 18-22.10.21 | 350 000.00 | 360 354.58 | 0.07 |
| USD	CONAGRA BRANDS INC 5.40000% 18-01.11.48 | 720 000.00 | 857 065.18 | 0.16 |
| USD	CONAGRA INC 4.60000% 18-01.11.25 | 870 000.00 | 957 153.55 | 0.18 |
| USD	CORP NACIONAL DEL COBRE DE CHILE-REG-S 3.62500% 17-01.08.27 | 940 000.00 | 979 656.25 | 0.18 |
| USD	CREDIT SUISSE GROUP AG-144A 4.28200% 17-09.01.28 | 550 000.00 | 598 062.80 | 0.11 |
| USD	CVS HEALTH CORP 2.62500% 19-15.08.24 | 615 000.00 | 619 945.65 | 0.11 |
| USD	CVS HEALTH CORP 3.35000% 18-09.03.21 | 324 000.00 | 329 193.85 | 0.06 |
| USD	CVS HEALTH CORP 4.30000% 18-25.03.28 | 1 240 000.00 | 1 351 659.77 | 0.25 |
| USD	CVS HEALTH CORP 5.05000% 18-25.03.48 | 600 000.00 | 709 877.64 | 0.13 |
| USD	CVS HEALTH CORP 5.12500% 15-20.07.45 | 1 325 000.00 | 1 565 408.93 | 0.29 |
| USD	DEUTSCHE BANK AG/NEW YORK NY 3.15000% 18-22.01.21 | 1 500 000.00 | 1 502 012.70 | 0.28 |
| USD	DISCOVERY COMMUNICATIONS LLC 5.30000% 19-15.05.49 | 1 360 000.00 | 1 570 014.47 | 0.29 |
| USD	DOMINION ENERGY INC 2.85000% 16-15.08.26 | 390 000.00 | 395 225.84 | 0.07 |
| USD	ENABLE MIDSTREAM PARTNERS LP 3.90000% 15-15.05.24 | 865 000.00 | 871 757.55 | 0.16 |
| USD	ENERGY TRANSFER OPERATING LP 4.50000% 19-15.04.24 | 830 000.00 | 877 533.77 | 0.16 |
| USD	ENERGY TRANSFER PARTNERS LP 6.05000% 11-01.06.41 | 1 320 000.00 | 1 465 363.16 | 0.27 |
| USD	EXELON CORP 3.40000% 16-15.04.26 | 500 000.00 | 522 529.70 | 0.10 |
| USD	FEDEX CORP 4.55000% 16-01.04.46 | 240 000.00 | 251 401.11 | 0.05 |
| USD	FISERV INC 3.20000% 19-01.07.26 | 1 720 000.00 | 1 781 578.58 | 0.33 |
| USD	GE CAPITAL INTL FUNDING CO 2.34200% 16-15.11.20 | 1 293 000.00 | 1 291 646.87 | 0.24 |
| USD	GE CAPITAL INTL FUNDING CO 4.41800% 16-15.11.35 | 2 900 000.00 | 3 121 540.86 | 0.58 |
| USD	GENERAL ELECTRIC CO 3.15000% 12-07.09.22 | 510 000.00 | 520 034.25 | 0.10 |
| USD	GILEAD SCIENCES INC 4.75000% 15-01.03.46 | 535 000.00 | 645 771.11 | 0.12 |
| USD	HCP INC 3.87500% 14-15.08.24 | 860 000.00 | 916 842.48 | 0.17 |
| USD	HONEYWELL INTERNATIONAL INC 2.15000% 19-08.08.22 | 185 000.00 | 186 224.57 | 0.03 |
| USD	HSBC HOLDINGS PLC 5.10000% 11-05.04.21 | 1 785 000.00 | 1 854 853.65 | 0.34 |
| USD	HUMANA INC 3.12500% 19-15.08.29 | 1 130 000.00 | 1 147 247.64 | 0.21 |
| USD	ILLINOIS TOOL WORKS INC 2.65000% 16-15.11.26 | 1 335 000.00 | 1 373 224.12 | 0.25 |
| USD	IMPERIAL BRANDS FINANCE PLC-144A 2.95000% 15-21.07.20 | 1 875 000.00 | 1 881 482.43 | 0.35 |
| USD	INTERNATIONAL BUSINESS MACHINES CORP 2.85000% 19-13.05.22 | 2 150 000.00 | 2 191 122.41 | 0.40 |
| USD	INTERNATIONAL BUSINESS MACHINES CORP 3.30000% 19-15.05.26 | 2 225 000.00 | 2 341 415.78 | 0.43 |
| USD	JPMORGAN CHASE & CO 3.20000% 13-25.01.23 | 7 570 000.00 | 7 826 879.63 | 1.44 |
| USD	KINDER MORGAN INC 3.15000% 17-15.01.23 | 1 160 000.00 | 1 184 788.74 | 0.22 |
| USD	KRAFT HEINZ FOODS CO 5.00000% 13-04.06.42 | 1 125 000.00 | 1 195 158.49 | 0.22 |
| USD	KROGER CO 3.87500% 16-15.10.46 | 240 000.00 | 234 410.08 | 0.04 |
| USD	LINCOLN NATIONAL CORP 3.80000% 18-01.03.28 | 1 885 000.00 | 2 003 986.66 | 0.37 |

UBS (Lux) Bond SICAV – Global Corporates (USD) Rapport semestriel au 30 novembre 2019
|  | 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 | LLOYDS BANKING GROUP PLC 4.45000% 18-08.05.25 | 920 000.00 | 1 001 606.57 | 0.18 |
| USD | LOWE’S COS INC 4.25000% 14-15.09.44 | 920 000.00 | 996 977.14 | 0.18 |
| USD | MARATHON OIL CORP 3.85000% 15-01.06.25 | 860 000.00 | 900 919.40 | 0.17 |
| USD | MASTERCARD INC 2.00000% 19-03.03.25 | 1 290 000.00 | 1 287 559.97 | 0.24 |
| USD | MEXICHEM SAB DE CV-REG-S 4.00000% 17-04.10.27 | 1 085 000.00 | 1 092 459.37 | 0.20 |
| USD | MEXICHEM SAB DE CV-REG-S 5.50000% 17-15.01.48 | 1 080 000.00 | 1 072 912.50 | 0.20 |
| USD | MICROSOFT CORP 3.70000% 16-08.08.46 | 1 285 000.00 | 1 469 003.13 | 0.27 |
| USD | MORGAN STANLEY 2.50000% 16-21.04.21 | 4 200 000.00 | 4 225 906.86 | 0.78 |
| USD | MPLX LP 5.20000% 17-01.03.47 | 1 090 000.00 | 1 149 581.47 | 0.21 |
| USD | NEXEN INC 6.40000% 07-15.05.37 | 1 020 000.00 | 1 422 900.00 | 0.26 |
| USD | PAYPAL HOLDINGS INC 2.65000% 19-01.10.26 | 1 165 000.00 | 1 168 010.71 | 0.22 |
| USD | PHILIP MORRIS INTERNATIONAL INC 4.25000% 14-10.11.44 | 620 000.00 | 691 987.46 | 0.13 |
| USD | QUALCOMM INC 4.30000% 17-20.05.47 | 630 000.00 | 711 787.86 | 0.13 |
| USD | RAKUTEN INC-REG-S 3.54600% 19-27.11.24 | 2 270 000.00 | 2 330 643.28 | 0.43 |
| USD | RECKITT BENCKISER TREAS SERV-144A 2.37500% 17-24.06.22 | 1 400 000.00 | 1 407 900.90 | 0.26 |
| USD | REYNOLDS AMERICAN INC 5.70000% 15-15.08.35 | 425 000.00 | 487 823.33 | 0.09 |
| USD | ROCHE HOLDINGS INC-REG-S 2.62500% 16-15.05.26 | 1 320 000.00 | 1 355 565.68 | 0.25 |
| USD | ROYAL BANK OF SCOTLAND GROUP PLC-SUB 6.10000% 13-10.06.23 | 1 260 000.00 | 1 380 413.54 | 0.25 |
| USD | ROYAL BANK OF SCOTLAND GROUP PLC 4.80000% 16-05.04.26 | 1 000 000.00 | 1 108 226.70 | 0.20 |
| USD | ROYAL BANK OF SCOTLAND GROUP PLC 3.87500% 16-12.09.23 | 2 100 000.00 | 2 184 603.96 | 0.40 |
| USD | SCENTRE GROUP TRUST 1 /2-REG-S 2.37500% 15-28.04.21 | 1 090 000.00 | 1 089 346.00 | 0.20 |
| USD | SEMPRA ENERGY 6.00000% 09-15.10.39 | 920 000.00 | 1 193 936.71 | 0.22 |
| USD | SGSP AUSTRALIA ASSETS PTY LTD-REG-S 3.25000% 16-29.07.26 | 1 450 000.00 | 1 494 421.62 | 0.28 |
| USD | SINOPEC CAPITAL 2013 LTD-REG-S 3.12500% 13-24.04.23 | 1 800 000.00 | 1 831 500.00 | 0.34 |
| USD | SOUTHERN CO 3.25000% 16-01.07.26 | 1 050 000.00 | 1 088 821.44 | 0.20 |
| USD | SOUTHERN CO 4.40000% 16-01.07.46 | 320 000.00 | 359 325.12 | 0.07 |
| USD | SUMITOMO MITSUI FIN GP INC 2.93400% 16-09.03.21 | 600 000.00 | 605 814.00 | 0.11 |
| USD | SUMITOMO MITSUI FIN GP INC-SUB 3.20200% 19-17.09.29 | 1 280 000.00 | 1 297 996.80 | 0.24 |
| USD | SUNCORP-METWAY LTD-REG-S 2.80000% 17-04.05.22 | 750 000.00 | 757 522.50 | 0.14 |
| USD | SUNTRUST BANKS INC 2.70000% 16-27.01.22 | 1 410 000.00 | 1 425 510.42 | 0.26 |
| USD | SYNGENTA FINANCE NV-144A 3.69800% 18-24.04.20 | 375 000.00 | 376 139.51 | 0.07 |
| USD | SYNGENTA FINANCE NV-144A 3.93300% 18-23.04.21 | 340 000.00 | 345 982.91 | 0.06 |
| USD | TELEFONICA EMISIONES SA 5.52000% 19-01.03.49 | 3 460 000.00 | 4 270 129.94 | 0.79 |
| USD | TELSTRA CORP LTD-REG-S 4.80000% 11-12.10.21 | 920 000.00 | 962 669.60 | 0.18 |
| USD | TEVA PHARMACEUTICAL FINANCE NL III BV 2.80000% 16-21.07.23 | 700 000.00 | 631 750.00 | 0.12 |
| USD | TIME WARNER CABLE LLC 5.00000% 09-01.02.20 | 2 197 000.00 | 2 205 954.31 | 0.41 |
| USD | UNION PACIFIC CORP 4.05000% 15-15.11.45 | 440 000.00 | 482 417.54 | 0.09 |
| USD | UNITED TECHNOLOGIES CORP 4.62500% 18-16.11.48 | 450 000.00 | 563 664.56 | 0.10 |
| USD | UNITED TECHNOLOGIES CORP 3.35000% 18-16.08.21 | 390 000.00 | 398 850.74 | 0.07 |
| USD | UNITED TECHNOLOGIES CORP 3.95000% 18-16.08.25 | 740 000.00 | 804 460.51 | 0.15 |
| USD | VALERO ENERGY CORP 4.90000% 15-15.03.45 | 1 080 000.00 | 1 227 011.11 | 0.23 |
| USD | VERIZON COMMUNICATIONS INC 3.37600% 18-15.02.25 | 550 000.00 | 580 980.95 | 0.11 |
| USD | VERIZON COMMUNICATIONS INC 3.87500% 19-08.02.29 | 450 000.00 | 497 544.70 | 0.09 |
| USD | VMWARE INC 3.90000% 17-21.08.27 | 1 010 000.00 | 1 058 100.75 | 0.20 |
| USD | VODAFONE GROUP PLC 4.37500% 13-19.02.43 | 300 000.00 | 318 432.24 | 0.06 |
| USD | WALT DISNEY CO 1.75000% 19-30.08.24 | 4 190 000.00 | 4 143 126.47 | 0.76 |
| USD | WELLS FARGO & CO 2.10000% 16-26.07.21 | 1 270 000.00 | 1 272 656.97 | 0.23 |
| USD | WELLS FARGO & CO 3.06900% 17-24.01.23 | 1 805 000.00 | 1 839 254.57 | 0.34 |
| USD | WESTPAC BANKING CORP 2.80000% 17-11.01.22 | 480 000.00 | 487 075.20 | 0.09 |
| USD | WILLIAMS COMPANIES INC 4.55000% 14-24.06.24 | 590 000.00 | 631 591.11 | 0.12 |
| USD | WILLIAMS COS INC/THE 4.30000% 14-04.03.24 | 1 170 000.00 | 1 235 809.58 | 0.23 |
| USD | WILLIAMS COS INC/THE 4.90000% 14-15.01.45 | 425 000.00 | 440 768.77 | 0.08 |
| USD | WPP FINANCE 2010 3.75000% 14-19.09.24 | 690 000.00 | 724 093.18 | 0.13 |
| USD | XLIT LTD 5.25000% 13-15.12.43 | 503 000.00 | 664 474.57 | 0.12 |
| Total USD |  |  | 160 018 616.26 | 29.51 |
| Total des Billets, taux fixe |  | 169 409 707.74 | 31.24 |
| Billets, taux variable |  |  |  |
| EUR |  |  |  |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S-SUB 3.250%/VAR 19-PRP | 300 000.00 | 360 576.66 | 0.06 |
| Total EUR |  | 360 576.66 | 0.06 |
| GBP |  |  |  |
| GBP	M&G PLC-REG-S-SUB 3.875%/VAR 19-20.07.49 | 450 000.00 | 594 449.80 | 0.11 |
| Total GBP |  | 594 449.80 | 0.11 |
| USD |  |  |  |
| USD	BHP BILLITON FINANCE USA-REG-S-SUB 6.750%/VAR 15-19.10.75 | 1 280 000.00 | 1 497 062.40 | 0.28 |
| USD	ELECTRICITE DE FRANCE SA-REG-S-SUB 5.625%/VAR 14-PRP | 690 000.00 | 724 500.00 | 0.13 |
| USD	ROYAL BK OF SCOTLAND GP PLC 4.519%/VAR 18-25.06.24 | 1 375 000.00 | 1 454 859.18 | 0.27 |
| Total USD |  | 3 676 421.58 | 0.68 |
| Total des Billets, taux variable |  | 4 631 448.04 | 0.85 |
| Medium-Term Notes, taux fixe |  |  |  |
| AUD |  |  |  |
| AUD	AURIZON NETWORK PTY LTD-REG-S 4.00000% 17-21.06.24 | 690 000.00 | 501 094.30 | 0.09 |
| AUD	BANCO SANTANDER SA 4.00000% 17-19.01.23 | 2 200 000.00 | 1 562 821.35 | 0.29 |
| AUD	COCA-COLA CO/THE-REG-S 2.60000% 15-09.06.20 | 960 000.00 | 653 590.71 | 0.12 |
| Total AUD |  | 2 717 506.36 | 0.50 |
| EUR |  |  |  |
| EUR	A.P. MOELLER-MAERSK-REG-S 1.75000% 18-16.03.26 | 1 000 000.00 | 1 144 366.49 | 0.21 |
| EUR	ABERTIS INFRAESTRUCTURAS SA-REG-S 1.50000% 19-27.06.24 | 400 000.00 | 456 347.61 | 0.08 |
| EUR	ABERTIS INFRAESTRUCTURAS SA-REG-S 2.37500% 19-27.09.27 | 800 000.00 | 952 342.97 | 0.18 |
| EUR	AKELIUS RESIDENTIAL PROPERTY AB-REG-S 1.75000% 17-07.02.25 | 1 200 000.00 | 1 386 608.59 | 0.26 |
| EUR	AROUNDTOWN SA-REG-S 2.00000% 18-02.11.26 | 1 200 000.00 | 1 407 828.78 | 0.26 |
| EUR	AURIZON NETWORK PTY LTD-REG-S 2.00000% 14-18.09.24 | 920 000.00 | 1 098 606.82 | 0.20 |
| EUR	AUSGRID FINANCE PTY LTD-REG-S 1.25000% 18-30.07.25 | 1 200 000.00 | 1 370 440.20 | 0.25 |
| EUR	AUSTRALIA PACIFIC AIR MELBOUNRE-REG-S 1.75000% 14-15.10.24 | 850 000.00 | 1 001 907.47 | 0.18 |
| EUR	AUTOSTRADE PER L’ITALIA SPA-REG-S 1.12500% 15-04.11.21 | 210 000.00 | 229 565.82 | 0.04 |
| EUR	BANCO SANTANDER SA-REG-S-SUB 3.25000% 16-04.04.26 | 700 000.00 | 873 604.54 | 0.16 |

UBS (Lux) Bond SICAV – Global Corporates (USD) Rapport semestriel au 30 novembre 2019
|  | 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 | BANK OF IRELAND GROUP PLC-REG-S 1.37500% 18-29.08.23 | 480 000.00 | 542 802.05 | 0.10 |
| EUR | BANQUE FEDER DU CREDIT MUTUEL-REG-S-SUB 3.00000% 15-11.09.25 | 600 000.00 | 747 081.18 | 0.14 |
| EUR | BARCLAYS BANK PLC-SUB 6.62500% 11-30.03.22 | 400 000.00 | 504 637.97 | 0.09 |
| EUR | BAT INTERNATIONAL FINANCE PLC-REG-S 0.87500% 15-13.10.23 | 2 800 000.00 | 3 135 188.41 | 0.58 |
| EUR | BNP PARIBAS-REG-S 1.25000% 18-19.03.25 | 2 980 000.00 | 3 427 153.45 | 0.63 |
| EUR | BNP PARIBAS-REG-S 1.00000% 18-17.04.24 | 910 000.00 | 1 033 878.36 | 0.19 |
| EUR | BNP PARIBAS-REG-S 1.12500% 18-22.11.23 | 1 300 000.00 | 1 481 512.90 | 0.27 |
| EUR | BPCE SA-REG-S 1.37500% 18-23.03.26 | 2 000 000.00 | 2 323 588.37 | 0.43 |
| EUR | CANAL DE ISABEL II GESTION SA-REG-S 1.68000% 15-26.02.25 | 700 000.00 | 815 929.98 | 0.15 |
| EUR | CNH INDUSTRIAL FINANCE EUROPE SA-REG-S 1.87500% 18-19.01.26 | 1 200 000.00 | 1 392 887.72 | 0.26 |
| EUR | COMMERZBANK AG-REG-S 0.50000% 18-28.08.23 | 780 000.00 | 869 560.55 | 0.16 |
| EUR | COMMERZBANK AG-REG-S 0.62500% 19-28.08.24 | 745 000.00 | 833 916.27 | 0.15 |
| EUR | CPI PROPERTY GROUP SA-REG-S 1.45000% 18-14.04.22 | 875 000.00 | 988 894.38 | 0.18 |
| EUR | CREDIT AGRICOLE SA LONDON-REG-S 1.37500% 18-13.03.25 | 2 600 000.00 | 3 009 146.23 | 0.55 |
| EUR | DANSKE BANK AS-REG-S 1.37500% 19-24.05.22 | 1 290 000.00 | 1 459 279.59 | 0.27 |
| EUR | DEUTSCHE BANK AG-REG-S 1.12500% 18-30.08.23 | 900 000.00 | 1 019 212.56 | 0.19 |
| EUR | DEUTSCHE BANK AG-REG-S 1.62500% 19-12.02.21 | 500 000.00 | 557 116.00 | 0.10 |
| EUR | DIAGEO FINANCE PLC-REG-S 2.37500% 14-20.05.26 | 660 000.00 | 826 400.11 | 0.15 |
| EUR | DNB BANK ASA-REG-S 0.05000% 19-14.11.23 | 1 065 000.00 | 1 171 051.50 | 0.22 |
| EUR | EDP FINANCE BV-REG-S 2.00000% 15-22.04.25 | 550 000.00 | 656 318.57 | 0.12 |
| EUR | EDP FINANCE BV-REG-S 1.50000% 17-22.11.27 | 1 100 000.00 | 1 288 583.70 | 0.24 |
| EUR | FORD MOTOR CREDIT CO LLC 3.02100% 19-06.03.24 | 815 000.00 | 939 217.18 | 0.17 |
| EUR | GALP GAS NATURAL DISTRIBUICAO SA-REG-S 1.37500% 16-19.09.23 | 500 000.00 | 572 515.19 | 0.11 |
| EUR | GAS NETWORKS IRELAND-REG-S 1.37500% 16-05.12.26 | 715 000.00 | 841 819.20 | 0.16 |
| EUR | GAS NETWORKS IRELAND-REG-S 0.12500% 19-04.12.24 | 915 000.00 | 1 006 407.25 | 0.19 |
| EUR | GE CAPITAL EUROPEAN FUNDING 5.37500% 09-23.01.20 | 500 000.00 | 555 420.42 | 0.10 |
| EUR | GLOBALWORTH REAL ESTATE INVEST-REG-S 3.00000% 18-29.03.25 | 1 000 000.00 | 1 190 463.44 | 0.22 |
| EUR | GOLDMAN SACHS GROUP INC-REG-S 2.00000% 15-27.07.23 | 3 850 000.00 | 4 516 520.83 | 0.83 |
| EUR | GOLDMAN SACHS GROUP INC-REG-S 1.62500% 16-27.07.26 | 1 700 000.00 | 1 997 299.49 | 0.37 |
| EUR | GOLDMAN SACHS GROUP INC-REG-S 2.00000% 18-01.11.28 | 750 000.00 | 907 994.41 | 0.17 |
| EUR | HEIDELBERGCEMENT FIN LUX SA-REG-S 1.12500% 19-01.12.27 | 735 000.00 | 823 131.20 | 0.15 |
| EUR | ING GROEP NV-REG-S 1.12500% 18-14.02.25 | 1 900 000.00 | 2 172 553.33 | 0.40 |
| EUR | ING GROEP NV-REG-S 2.00000% 18-20.09.28 | 700 000.00 | 860 872.59 | 0.16 |
| EUR | ITALGAS SPA-REG-S 1.62500% 17-19.01.27 | 900 000.00 | 1 070 564.18 | 0.20 |
| EUR | KBC GROUP NV-REG-S 1.12500% 19-25.01.24 | 800 000.00 | 914 526.43 | 0.17 |
| EUR | NET4GAS SRO-REG-S 2.50000% 14-28.07.21 | 900 000.00 | 1 028 401.64 | 0.19 |
| EUR | PETROLEOS MEXICANOS-REG-S 3.75000% 17-21.02.24 | 1 200 000.00 | 1 397 545.49 | 0.26 |
| EUR | REDEXIS GAS FINANCE BV-REG-S 1.87500% 15-27.04.27 | 2 000 000.00 | 2 272 555.62 | 0.42 |
| EUR | REN FINANCE B V-REG-S 2.50000% 15-12.02.25 | 1 300 000.00 | 1 581 668.89 | 0.29 |
| EUR | RTE EDF TRANSPORT SA-REG-S 1.00000% 16-19.10.26 | 300 000.00 | 348 250.41 | 0.06 |
| EUR | SANOFI-REG-S 1.37500% 18-21.03.30 | 1 200 000.00 | 1 466 736.74 | 0.27 |
| EUR | SANTANDER CONSUMER FINANCE SA-REG-S 1.00000% 19-27.02.24 | 1 400 000.00 | 1 585 472.64 | 0.29 |
| EUR | SCHAEFFLER AG-REG-S 2.87500% 19-26.03.27 | 545 000.00 | 649 831.65 | 0.12 |
| EUR | SGSP AUSTRALIA ASSETS PTY LTD-REG-S 2.00000% 14-30.06.22 | 650 000.00 | 749 986.84 | 0.14 |
| EUR | SKY PLC-REG-S 2.50000% 14-15.09.26 | 760 000.00 | 955 570.84 | 0.18 |
| EUR | STEDIN HOLDING NV-REG-S 0.87500% 17-24.10.25 | 610 000.00 | 698 083.73 | 0.13 |
| EUR | VODAFONE GROUP PLC-REG-S 2.50000% 19-24.05.39 | 1 345 000.00 | 1 625 379.54 | 0.30 |
| EUR | VOLKSWAGEN FINANCIAL SERVICES AG-REG-S 1.50000% 19-01.10.24 | 1 195 000.00 | 1 362 959.03 | 0.25 |
| EUR | VOLKSWAGEN LEASING GMBH-REG-S 1.62500% 18-15.08.25 | 900 000.00 | 1 033 051.73 | 0.19 |
| EUR | VONOVIA FINANCE BV-REG-S 1.62500% 19-07.10.39 | 1 000 000.00 | 1 081 229.41 | 0.20 |
| Total EUR |  |  | 74 211 788.48 | 13.68 |
| GBP |  |  |  |  |
| GBP | AA BOND CO LTD-REG-S 2.87500% 16-31.01.22 | 656 000.00 | 826 117.68 | 0.15 |
| GBP | ANGLIAN WATER SERVICES FINANCING-REG-S 4.50000% 13-22.02.26 | 535 000.00 | 765 657.02 | 0.14 |
| GBP | ANNINGTON FUNDING PLC-REG-S 2.64600% 17-12.07.25 | 1 350 000.00 | 1 803 078.59 | 0.33 |
| GBP | ARQIVA FINANCING PLC-REG-S 4.88200% 13-31.12.32 | 550 000.00 | 729 342.53 | 0.14 |
| GBP | BANK NEDERLANDSE GEMEENTEN NV-REG-S 1.37500% 15-09.12.19 | 1 000 000.00 | 1 293 603.48 | 0.24 |
| GBP | BAT INTERNATIONAL FINANCE PLC-REG-S 2.25000% 16-09.09.52 | 650 000.00 | 612 617.25 | 0.11 |
| GBP | CADENT FINANCE PLC-REG-S 2.75000% 16-22.09.46 | 900 000.00 | 1 194 220.00 | 0.22 |
| GBP | DEUTSCHE BANK AG 1.87500% 17-28.02.20 | 500 000.00 | 646 612.90 | 0.12 |
| GBP | GATWICK FUNDING LTD 5.25000% 12-23.01.26 | 585 000.00 | 871 785.21 | 0.16 |
| GBP | JPMORGAN CHASE & CO-REG-S 1.87500% 15-10.02.20 | 1 000 000.00 | 1 295 654.97 | 0.24 |
| GBP | LLOYDS BANKING GROUP PLC 2.25000% 17-16.10.24 | 780 000.00 | 1 034 833.36 | 0.19 |
| GBP | PHOENIX GROUP HOLDINGS PLC-REG-S-SUB 4.12500% 17-20.07.22 | 1 550 000.00 | 2 091 056.58 | 0.39 |
| GBP | THAMES WATER UTILITIES FINANCE PLC 5.12500% 06-28.09.37 | 850 000.00 | 1 475 514.02 | 0.27 |
| GBP | VICINITY CENTRES TRUST-REG-S 3.37500% 16-07.04.26 | 610 000.00 | 847 672.77 | 0.16 |
| GBP | WESTERN POWER DISTRIBUTION WEST MIDLAND 5.75000% 11-16.04.32 | 310 000.00 | 554 666.51 | 0.10 |
| Total GBP |  |  | 16 042 432.87 | 2.96 |
| USD |  |  |  |  |
| USD | ABN AMRO BANK NV-144A 2.65000% 18-19.01.21 | 1 950 000.00 | 1 962 235.47 | 0.36 |
| USD | BANK OF AMERICA CORP 3.87500% 15-01.08.25 | 6 370 000.00 | 6 847 116.18 | 1.26 |
| USD | GENERAL ELECTRIC CO 4.37500% 10-16.09.20 | 440 000.00 | 446 893.97 | 0.08 |
| USD | GENERAL ELECTRIC CO 6.75000% 02-15.03.32 | 760 000.00 | 984 937.35 | 0.18 |
| USD | HENKEL AG & CO KGAA-REG-S 2.00000% 17-12.06.20 | 1 410 000.00 | 1 409 436.00 | 0.26 |
| USD | MIRVAC GROUP FINANCE LTD-REG-S 3.62500% 17-18.03.27 | 1 765 000.00 | 1 818 332.30 | 0.34 |
| USD | MORGAN STANLEY 4.00000% 15-23.07.25 | 2 410 000.00 | 2 605 243.98 | 0.48 |
| USD | MORGAN STANLEY-SUB 4.35000% 14-08.09.26 | 1 000 000.00 | 1 094 160.20 | 0.20 |
| USD | PHOENIX GROUP HOLDINGS PLC-REG-S-SUB 5.37500% 17-06.07.27 | 785 000.00 | 816 400.00 | 0.15 |
| USD | SAUDI ARABIAN OIL CO-REG-S 2.87500% 19-16.04.24 | 200 000.00 | 202 800.00 | 0.04 |
| USD | SAUDI ARABIAN OIL CO-REG-S 3.50000% 19-16.04.29 | 590 000.00 | 616 181.25 | 0.12 |
| USD | SAUDI ARABIAN OIL CO-REG-S 4.37500% 19-16.04.49 | 200 000.00 | 219 875.00 | 0.04 |
| USD | WALT DISNEY CO/THE 1.85000% 16-30.07.26 | 210 000.00 | 207 191.89 | 0.04 |
| USD | WELLS FARGO & CO 2.62500% 17-22.07.22 | 1 330 000.00 | 1 346 035.02 | 0.25 |
| Total USD |  |  | 20 576 838.61 | 3.80 |
| Total des Medium-Term Notes, taux fixe |  | 113 548 566.32 | 20.94 |
| Medium-Term Notes, coupon zéro |  |  |  |
| EUR |  |  |  |
| EUR	SANOFI-REG-S 0.00000% 16-13.01.20 | 1 000 000.00 | 1 102 818.31 | 0.20 |
| Total EUR |  | 1 102 818.31 | 0.20 |
| Total des Medium-Term Notes, coupon zéro |  | 1 102 818.31 | 0.20 |

UBS (Lux) Bond SICAV – Global Corporates (USD) Rapport semestriel au 30 novembre 2019
| 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 variable |  |  |  |
| EUR |  |  |  |
| EUR	ALLIANZ SE-REG-S-SUB 4.750%/3M EURIBOR+360BP 13-PRP | 300 000.00 | 380 746.31 | 0.07 |
| EUR	AXA SA-REG-S-SUB 3.250%/VAR 18-28.05.49 | 1 700 000.00 | 2 135 196.81 | 0.39 |
| EUR	AXA SA-REG-S-SUB 3.375%/VAR 16-06.07.47 | 1 200 000.00 | 1 512 304.99 | 0.28 |
| EUR	BARCLAYS PLC-REG-S-SUB 2.625%/VAR 15-11.11.25 | 1 400 000.00 | 1 569 137.84 | 0.29 |
| EUR	COMMONWEALTH BK OF AUSTRLIA-REG-S-SUB 1.936%/VAR 17-03.10.29 | 1 000 000.00 | 1 143 219.78 | 0.21 |
| EUR	DBS GROUP HOLDINGS LTD-REG-S-SUB 1.500%/VAR 18-11.04.28 | 1 200 000.00 | 1 340 089.41 | 0.25 |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S-SUB 2.625%/VAR 18-PRP | 1 400 000.00 | 1 638 187.95 | 0.30 |
| EUR	NATIONWIDE BUILDING SOCIETY-REG-S-SUB 2.000%/VAR 17-25.07.29 | 1 100 000.00 | 1 251 980.19 | 0.23 |
| EUR	ROYAL BK OF SCOTLAND GP PLC-REG-S 2.000%/VAR 18-04.03.25 | 700 000.00 | 810 418.72 | 0.15 |
| EUR	SVENSKA HANDELSBANKEN AB-REG-S-SUB 1.625%/VAR 18-05.03.29 | 1 200 000.00 | 1 382 244.94 | 0.26 |
| EUR	TOTAL SA-REG-S-SUB 2.625%/VAR 15-PRP | 695 000.00 | 823 091.89 | 0.15 |
| EUR	UBS AG-REG-S-SUB 4.750%/VAR 14-12.02.26 | 665 000.00 | 768 973.91 | 0.14 |
| Total EUR |  | 14 755 592.74 | 2.72 |
| GBP |  |  |  |
| GBP	AVIVA PLC-REG-S-SUB 5.125%VAR 15-04.06.50 | 1 035 000.00 | 1 540 212.24 | 0.28 |
| GBP	BARCLAYS PLC-REG-S 2.375%/VAR 17-06.10.23 | 900 000.00 | 1 179 987.09 | 0.22 |
| GBP	CYBG PLC-REG-S 3.375%/VAR 18-24.04.26 | 1 000 000.00 | 1 287 912.28 | 0.24 |
| GBP	IMPERIAL BRANDS FIN-REG-S 9.000%/RATING LINKED 09-17.02.22 | 400 000.00 | 600 039.13 | 0.11 |
| GBP	M&G PLC-REG-S-SUB 5.000%/VAR 15-20.07.55 | 750 000.00 | 1 078 808.10 | 0.20 |
| GBP	MARKS & SPENCER PLC 6.125%/RATING LINKED 09-02.12.19 | 2 000 000.00 | 2 587 000.00 | 0.48 |
| GBP	YORKSHIRE WATER SERVICES FIN-REG-S 3.750%/VAR 10-22.03.46 | 550 000.00 | 738 412.34 | 0.13 |
| Total GBP |  | 9 012 371.18 | 1.66 |
| USD |  |  |  |
| USD	DBS GROUP HOLDINGS LTD-REG-S-SUB 3.600%/VAR 16-PRP | 995 000.00 | 1 000 900.35 | 0.19 |
| Total USD |  | 1 000 900.35 | 0.19 |
| Total des Medium-Term Notes, taux variable |  | 24 768 864.27 | 4.57 |
| Obligations, taux fixe |  |  |  |
| EUR |  |  |  |
| EUR	ABBOTT IRELAND FINCING DAC-REG-S 0.87500% 18-27.09.23 | 930 000.00 | 1 055 571.45 | 0.19 |
| EUR	ADO PROPERTIES SA-REG-S 1.50000% 17-26.07.24 | 1 500 000.00 | 1 640 880.50 | 0.30 |
| EUR	ALLERGAN FUNDING SCS 2.12500% 17-01.06.29 | 610 000.00 | 737 654.66 | 0.14 |
| EUR	ALLERGAN FUNDING SCS 2.62500% 18-15.11.28 | 605 000.00 | 763 482.39 | 0.14 |
| EUR	BUZZI UNICEM SPA-REG-S 2.12500% 16-28.04.23 | 840 000.00 | 975 867.93 | 0.18 |
| EUR	CDP RETI SPA-REG-S 1.87500% 15-29.05.22 | 950 000.00 | 1 075 988.31 | 0.20 |
| EUR	CHUBB INA HOLDINGS INC 2.50000% 18-15.03.38 | 1 700 000.00 | 2 254 751.07 | 0.42 |
| EUR	DXC TECHNOLOGY CO 1.75000% 18-15.01.26 | 1 100 000.00 | 1 203 360.88 | 0.22 |
| EUR	FCC AQUALIA SA-REG-S 2.62900% 17-08.06.27 | 635 000.00 | 750 396.51 | 0.14 |
| EUR	IMPERIAL BRANDS FINANCE PLC-REG-S 1.37500% 17-27.01.25 | 525 000.00 | 591 119.57 | 0.11 |
| EUR	ITALY, REPUBLIC OF-BTP 1.35000% 15-15.04.22 | 2 000 000.00 | 2 269 230.19 | 0.42 |
| EUR	KRAFT HEINZ FOODS CO-REG-S 2.25000% 16-25.05.28 | 500 000.00 | 587 829.14 | 0.11 |
| EUR	LIBERTY MUTUAL GROUP INC-REG-S 2.75000% 16-04.05.26 | 680 000.00 | 838 990.39 | 0.15 |
| EUR	MEDTRONIC GLOBAL HOLDINGS SCA 2.25000% 19-07.03.39 | 410 000.00 | 521 557.95 | 0.10 |
| EUR	MYLAN NV-REG-S 3.12500% 16-22.11.28 | 900 000.00 | 1 124 392.67 | 0.21 |
| EUR	PETROLEOS MEXICANOS-REG-S 5.50000% 05-24.02.25 | 400 000.00 | 499 202.15 | 0.09 |
| EUR	RESA SA/BELGIUM-REG-S 1.00000% 16-22.07.26 | 900 000.00 | 1 016 774.09 | 0.19 |
| EUR	SIKA CAPITAL BV-REG-S 0.87500% 19-29.04.27 | 550 000.00 | 627 048.62 | 0.12 |
| EUR	TAURON POLSKA ENERGIA SA-REG-S 2.37500% 17-05.07.27 | 1 020 000.00 | 1 194 717.82 | 0.22 |
| EUR	TDF INFRASTRUCTURE SAS 2.87500% 15-19.10.22 | 600 000.00 | 701 849.01 | 0.13 |
| EUR	TEVA PHARMACEUTICAL FINANCE II BV-REG-S 1.12500% 16-15.10.24 | 1 300 000.00 | 1 225 539.90 | 0.23 |
| EUR	TLG IMMOBILIEN AG-REG-S 0.37500% 19-23.09.22 | 500 000.00 | 553 483.14 | 0.10 |
| EUR	TRANSPORT ET INFRASTRUCTURES GAZ-REG-S 2.20000% 15-05.08.25 | 700 000.00 | 843 444.89 | 0.15 |
| EUR	UMG GROUPE VYV 1.62500% 19-02.07.29 | 800 000.00 | 922 832.10 | 0.17 |
| EUR	VERIZON COMMUNICATIONS INC 2.87500% 17-15.01.38 | 700 000.00 | 930 069.04 | 0.17 |
| EUR	VOLKSWAGEN INTERNATIONAL FIN NV-REG-S 1.12500% 17-02.10.23 | 1 700 000.00 | 1 921 119.30 | 0.35 |
| EUR	VOLKSWAGEN INTERNATIONAL FIN NV-REG-S 4.12500% 18-16.11.38 | 1 500 000.00 | 2 105 289.00 | 0.39 |
| EUR	VONOVIA FINANCE BV-REG-S 0.75000% 18-15.01.24 | 300 000.00 | 336 770.43 | 0.06 |
| EUR	VVO-YHTYMA OYJ-REG-S 1.62500% 16-17.10.23 | 860 000.00 | 985 678.23 | 0.18 |
| Total EUR |  | 30 254 891.33 | 5.58 |
| GBP |  |  |  |
| GBP	BARCLAYS BANK PLC-SUB 9.50000% 96-07.08.21 | 1 050 000.00 | 1 529 133.79 | 0.28 |
| GBP	BUPA FINANCE PLC-REG-S-SUB 5.00000% 13-25.04.23 | 330 000.00 | 467 918.46 | 0.09 |
| GBP	NORTHUMBRIAN WATER FINANCE PLC-REG-S 1.62500% 16-11.10.26 | 660 000.00 | 848 674.82 | 0.16 |
| GBP	ROTHESAY LIFE PLC-REG-S-SUB 3.37500% 19-12.07.26 | 2 750 000.00 | 3 540 655.51 | 0.65 |
| GBP	SCOTTISH WIDOWS PLC-REG-S-SUB 5.50000% 13-16.06.23 | 820 000.00 | 1 178 808.28 | 0.22 |
| GBP	TESCO PROPERTY FINANCE 4 PLC 5.80060% 11-13.10.40 | 375 000.00 | 619 380.76 | 0.11 |
| Total GBP |  | 8 184 571.62 | 1.51 |
| USD |  |  |  |
| USD	AMERICAN AIRLINES PASS THROUGH TRUST 4.37500% 14-01.10.22 | 680 000.00 | 391 939.52 | 0.07 |
| USD	BALTIMORE GAS & ELECTRIC CO 3.50000% 16-15.08.46 | 750 000.00 | 779 032.88 | 0.14 |
| USD	CITIGROUP INC 3.87500% 13-25.10.23 | 4 290 000.00 | 4 555 949.97 | 0.84 |
| USD	CNAC HK FINBRIDGE CO LTD-REG-S 3.50000% 17-19.07.22 | 700 000.00 | 711 812.50 | 0.13 |
| USD	CNAC HK FINBRIDGE CO LTD-REG-S 4.62500% 18-14.03.23 | 895 000.00 | 941 987.50 | 0.17 |
| USD	CONSUMERS ENERGY COMPANY 3.25000% 16-15.08.46 | 350 000.00 | 358 390.17 | 0.07 |
| USD	CPI PROPERTY GROUP SA-REG-S 4.75000% 19-08.03.23 | 640 000.00 | 672 000.00 | 0.12 |
| USD	GOLDMAN SACHS GROUP INC-SUB 5.15000% 15-22.05.45 | 1 080 000.00 | 1 328 395.03 | 0.25 |
| USD	KROGER CO 3.70000% 17-01.08.27 | 1 335 000.00 | 1 428 769.87 | 0.26 |
| USD	MEXICO CITY AIRPORT TRUST-REG-S 5.50000% 17-31.07.47 | 737 000.00 | 740 915.31 | 0.14 |
| USD	MICROSOFT CORP 2.40000% 16-08.08.26 | 710 000.00 | 722 564.09 | 0.13 |
| USD	MITSUBISHI UFJ FINANCIAL GROUP INC 2.66500% 17-25.07.22 | 765 000.00 | 773 246.70 | 0.14 |
| USD	NATL RURAL UTIL COOPERATIVE FIN CORP 3.70000% 19-15.03.29 | 560 000.00 | 613 907.90 | 0.11 |
| USD	REYNOLDS AMERICAN INC 4.45000% 15-12.06.25 | 990 000.00 | 1 060 078.73 | 0.20 |
| USD	SHELL INTERNATIONAL FINANCE BV 4.37500% 15-11.05.45 | 850 000.00 | 1 024 284.08 | 0.19 |
| USD	SOUTHERN CALIFORNIA EDISON CO 4.00000% 17-01.04.47 | 745 000.00 | 783 660.81 | 0.15 |

UBS (Lux) Bond SICAV – Global Corporates (USD) Rapport semestriel au 30 novembre 2019
|  | 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 | SOUTHERN CALIFORNIA EDISON CO 2.85000% 19-01.08.29 | 680 000.00 | 685 103.06 | 0.13 |
| USD | SUNCOR ENERGY INC 6.50000% 07-15.06.38 | 1 210 000.00 | 1 646 483.30 | 0.30 |
| USD | VERIZON COMMUNICATIONS INC 5.25000% 17-16.03.37 | 405 000.00 | 511 778.78 | 0.10 |
| Total USD |  |  | 19 730 300.20 | 3.64 |
| Total des Obligations, taux fixe |  | 58 169 763.15 | 10.73 |
| Obligations, taux variable |  |  |  |
| EUR |  |  |  |
| EUR	AG INSURANCE SA/NV-REG-S-SUB 3.500%/VAR 15-30.06.47 | 1 100 000.00 | 1 367 499.65 | 0.25 |
| EUR	ALLIANDER NV-REG-S-SUB 1.625%/VAR 18-PRP | 365 000.00 | 421 855.09 | 0.08 |
| EUR	ATF NETHERLANDS BV-REG-S-SUB 3.750%/VAR 16-PRP | 1 200 000.00 | 1 387 622.09 | 0.26 |
| EUR	CREDIT LOGEMENT SA-SUB 4.60400%/3M EURIBOR+115BP 06-PRP | 900 000.00 | 792 959.05 | 0.15 |
| EUR	ELECTRICITE DE FRANCE SA-REG-S-SUB 4.000%/VAR 18-PRP | 800 000.00 | 955 954.20 | 0.18 |
| EUR	ELM BV-REG-S-SUB 2.600%/VAR 15-PRP | 590 000.00 | 702 563.71 | 0.13 |
| EUR	ENGIE SA-REG-S-SUB 3.250%/VAR 19-PRP | 300 000.00 | 361 734.39 | 0.07 |
| EUR	OMV AG-REG-S-SUB 2.875%/VAR 18-PRP | 800 000.00 | 940 075.52 | 0.17 |
| EUR	ORSTED A/S-REG-S-SUB 3.000%/VAR 15-06.11.3015 | 440 000.00 | 494 846.88 | 0.09 |
| EUR	ORSTED A/S-REG-S-SUB 2.250%/VAR 17-24.11.3017 | 340 000.00 | 389 879.36 | 0.07 |
| EUR	RABOBANK NEDERLAND NV REG-S 5.500%/VAR 15-PRP | 3 000 000.00 | 3 395 847.02 | 0.63 |
| EUR	SWISS LIFE AG VIA DEMETER INV BV-SUB 4.375%/VAR 15-PRP | 1 000 000.00 | 1 265 557.78 | 0.23 |
| EUR	UNIBAIL-RODAMCO SE-REG-S-SUB 2.125%/VAR 18-PRP | 700 000.00 | 786 222.16 | 0.14 |
| EUR	UNIBAIL-RODAMCO SE-REG-S-SUB 2.875%/VAR 18-PRP | 700 000.00 | 810 411.00 | 0.15 |
| EUR	VOLKSWAGEN INTL FINANCE NV-REG-S-SUB 3.375%/VAR 18-PRP | 1 500 000.00 | 1 746 518.40 | 0.32 |
| EUR	VONOVIA FINANCE BV-REG-S-SUB 4.000%/VAR 14-PRP | 700 000.00 | 823 582.88 | 0.15 |
| Total EUR |  | 16 643 129.18 | 3.07 |
| GBP |  |  |  |
| GBP	BUPA FINANCE PLC 6.125%/VAR 04-PRP | 520 000.00 | 696 161.70 | 0.13 |
| GBP	HSBC BANK CAPITAL FUNDING STERLING-SUB 5.86200%/VAR 04-PRP | 350 000.00 | 458 949.97 | 0.08 |
| GBP	M&G PLC-REG-S-SUB 5.625%/VAR 18-20.10.51 | 1 900 000.00 | 2 796 715.75 | 0.52 |
| GBP	SSE PLC-REG-S-SUB 3.875%/VAR 15-PRP | 595 000.00 | 774 896.78 | 0.14 |
| Total GBP |  | 4 726 724.20 | 0.87 |
| USD |  |  |  |
| USD	HUANENG HONG KONG CAPITAL LTD-REG-S 3.600%/VAR 17-PRP | 1 030 000.00 | 1 029 034.38 | 0.19 |
| USD	QBE INSURANCE GROUP LTD-REG-S-SUB 6.750%/VAR 14-02.12.44 | 2 070 000.00 | 2 307 801.60 | 0.42 |
| USD	SCOR SE-REG-S-SUB 5.250%/VAR 18-PRP | 1 800 000.00 | 1 773 000.00 | 0.33 |
| USD	WESTPAC BANKING CORP-SUB 5.000%/VAR 17-PRP | 1 750 000.00 | 1 731 992.50 | 0.32 |
| Total USD |  | 6 841 828.48 | 1.26 |
| Total des Obligations, taux variable |  | 28 211 681.86 | 5.20 |
| Total des Titres et instruments du marché monétaire négociés sur une bourse officielle |  | 399 842 849.69 | 73.73 |
| Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  |  |  |
| Billets, taux fixe |  |  |  |
| CAD |  |  |  |
| CAD	ROYAL BANK OF CANADA 1.65000% 16-15.07.21 | 2 850 000.00 | 2 133 342.75 | 0.39 |
| CAD	TELUS CORP 3.75000% 14-17.01.25 | 310 000.00 | 245 217.99 | 0.05 |
| CAD	TORONTO-DOMINION BANK 2.04500% 16-08.03.21 | 2 650 000.00 | 1 995 884.43 | 0.37 |
| Total CAD |  | 4 374 445.17 | 0.81 |
| USD |  |  |  |
| USD	ABB FINANCE USA INC 2.87500% 12-08.05.22 | 900 000.00 | 918 247.77 | 0.17 |
| USD	ABBVIE INC 2.90000% 13-06.11.22 | 790 000.00 | 804 589.49 | 0.15 |
| USD	ABBVIE INC 4.40000% 13-06.11.42 | 880 000.00 | 949 760.50 | 0.18 |
| USD	ALTRIA GROUP INC 4.25000% 12-09.08.42 | 2 200 000.00 | 2 214 432.44 | 0.41 |
| USD	AMAZON.COM INC 2.80000% 18-22.08.24 | 2 540 000.00 | 2 626 993.98 | 0.48 |
| USD	APACHE CORP 4.25000% 12-15.01.44 | 1 710 000.00 | 1 499 593.75 | 0.28 |
| USD	AUSTRALIA & NEW ZEALAND BNK-REG-S-SUB 4.50000% 14-19.03.24 | 1 200 000.00 | 1 276 638.12 | 0.24 |
| USD	BNP PARIBAS-144A 4.40000% 18-14.08.28 | 1 360 000.00 | 1 511 146.19 | 0.28 |
| USD	BRISTOL-MYERS SQUIBB CO-144A 2.60000% 19-16.05.22 | 350 000.00 | 355 986.68 | 0.07 |
| USD	BRISTOL-MYERS SQUIBB CO-144A 4.25000% 19-26.10.49 | 1 625 000.00 | 1 929 895.66 | 0.36 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.62500% 18-15.01.24 | 1 950 000.00 | 2 006 655.88 | 0.37 |
| USD	BURLINGTON NORTHERN SANTA FE LLC 5.40000% 11-01.06.41 | 800 000.00 | 1 042 040.24 | 0.19 |
| USD	CCO LLC/CAPITAL 5.37500% 17-01.05.47 | 425 000.00 | 473 351.01 | 0.09 |
| USD	CHEVRON PHILLIPS CHEMICAL CO LLC-144A 3.30000% 18-01.05.23 | 2 460 000.00 | 2 541 564.01 | 0.47 |
| USD	CITIGROUP INC-SUB 4.60000% 16-09.03.26 | 550 000.00 | 605 346.78 | 0.11 |
| USD	COMMONWEALTH BANK OF AUSTRALIA-144A 2.05000% 17-18.09.20 | 895 000.00 | 894 606.20 | 0.16 |
| USD	CREDIT SUISSE NEW YORK 3.00000% 14-29.10.21 | 950 000.00 | 966 876.37 | 0.18 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 5.30000% 19-01.10.29 | 1 965 000.00 | 2 175 069.89 | 0.40 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 8.35000% 16-15.07.46 | 1 640 000.00 | 2 200 443.76 | 0.41 |
| USD	DIAGEO CAPITAL PLC 3.87500% 13-29.04.43 | 690 000.00 | 785 920.41 | 0.14 |
| USD	DIAMONDBACK ENERGY INC 3.25000% 19-01.12.26 | 610 000.00 | 609 884.10 | 0.11 |
| USD	EASTMAN CHEMICAL CO 2.70000% 14-15.01.20 | 77 000.00 | 77 018.93 | 0.01 |
| USD	EATON CORP 4.15000% 13-02.11.42 | 760 000.00 | 861 219.61 | 0.16 |
| USD	ELECTRICITE DE FRANCE-REG-S 6.95000% 09-26.01.39 | 525 000.00 | 755 109.18 | 0.14 |
| USD	ENERGY TRANSFER PARTNERS LP 6.00000% 18-15.06.48 | 1 060 000.00 | 1 209 200.62 | 0.22 |
| USD	ENLINK MIDSTREAM PARTNERS LP 4.40000% 14-01.04.24 | 1 000 000.00 | 920 000.00 | 0.17 |
| USD	ENTERPRISE PRODUCTS OPERATING LLC 4.85000% 13-15.03.44 | 750 000.00 | 857 859.75 | 0.16 |
| USD	ERAC USA FINANCE LLC-144A 5.62500% 12-15.03.42 | 730 000.00 | 920 562.48 | 0.17 |
| USD	FREEPORT-MCMORAN INC 3.87500% 13-15.03.23 | 1 250 000.00 | 1 275 500.00 | 0.24 |
| USD	GENERAL ELECTRIC CO 4.12500% 12-09.10.42 | 34 000.00 | 35 895.60 | 0.01 |
| USD	GENERAL MOTORS FINANCIAL CO 4.35000% 18-09.04.25 | 2 170 000.00 | 2 286 107.37 | 0.42 |
| USD	GILEAD SCIENCES INC 4.80000% 14-01.04.44 | 740 000.00 | 888 529.39 | 0.16 |
| USD	GLENCORE FUNDING LLC-144A 4.87500% 19-12.03.29 | 1 100 000.00 | 1 191 511.09 | 0.22 |
| USD	HARTFORD FINANCIAL SERVICES GROUP INC 4.30000% 13-15.04.43 | 815 000.00 | 907 721.24 | 0.17 |
| USD	HARTFORD FINANCIAL SERVICES GROUP INC 4.40000% 18-15.03.48 | 1 080 000.00 | 1 241 016.44 | 0.23 |
| USD	HOME DEPOT INC/THE 4.87500% 13-15.02.44 | 570 000.00 | 726 551.58 | 0.13 |
| USD	JPMORGAN CHASE & CO-SUB 3.62500% 16-01.12.27 | 1 600 000.00 | 1 689 415.84 | 0.31 |
| USD	KINDER MORGAN INC-144A 5.62500% 13-15.11.23 | 800 000.00 | 884 719.04 | 0.16 |

UBS (Lux) Bond SICAV – Global Corporates (USD) Rapport semestriel au 30 novembre 2019
|  | 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 | KRAFT HEINZ FOODS CO-144A 4.87500% 15-15.02.25 | 547 000.00 | 562 493.89 | 0.10 |
| USD | KROGER CO 4.65000% 17-15.01.48 | 200 000.00 | 219 290.04 | 0.04 |
| USD | LIBERTY MUTUAL GROUP INC-144A 4.56900% 19-01.02.29 | 967 000.00 | 1 089 213.62 | 0.20 |
| USD | LLOYDS BANKING GROUP PLC 4.37500% 18-22.03.28 | 1 010 000.00 | 1 107 614.99 | 0.20 |
| USD | MERCK & CO INC 3.70000% 15-10.02.45 | 290 000.00 | 326 172.16 | 0.06 |
| USD | METROPOLITAN LIFE GLOBAL FUNDING-144A 2.40000% 18-08.01.21 | 1 035 000.00 | 1 040 265.15 | 0.19 |
| USD | MICROSOFT CORP 3.50000% 12-15.11.42 | 690 000.00 | 758 976.54 | 0.14 |
| USD | MORGAN STANLEY 6.37500% 12-24.07.42 | 570 000.00 | 845 353.83 | 0.16 |
| USD | MOTIVA ENTERPRISES LLC-144A 6.85000% 10-15.01.40 | 620 000.00 | 751 606.22 | 0.14 |
| USD | MPLX LP-144A 4.25000% 19-01.12.27 | 400 000.00 | 419 416.08 | 0.08 |
| USD | NBC UNIVERSAL INC 4.37500% 11-01.04.21 | 2 330 000.00 | 2 402 771.96 | 0.44 |
| USD | NORDEA BANK ABP-144A 2.12500% 17-29.05.20 | 1 210 000.00 | 1 211 161.72 | 0.22 |
| USD | ONCOR ELECTRIC DELIVERY CO 3.70000% 19-15.11.28 | 700 000.00 | 768 829.60 | 0.14 |
| USD | ORIGIN ENERGY FINANCE LTD-REG-S 5.45000% 11-14.10.21 | 840 000.00 | 883 570.80 | 0.16 |
| USD | PHILLIPS 66 PARTNERS LP 4.68000% 15-15.02.45 | 450 000.00 | 485 966.25 | 0.09 |
| USD | PPL CAPITAL FUNDING INC 4.70000% 13-01.06.43 | 1 360 000.00 | 1 544 774.09 | 0.28 |
| USD | SOUTHWESTERN ELECTRIC POWER 6.20000% 10-15.03.40 | 1 660 000.00 | 2 212 364.33 | 0.41 |
| USD | SUMITOMO MITSUI BANKING 2.51400% 18-17.01.20 | 1 440 000.00 | 1 440 417.60 | 0.27 |
| USD | SWISS RE TREASURY (US) CORP-144A 4.25000% 12-06.12.42 | 630 000.00 | 720 274.59 | 0.13 |
| USD | TEACHERS INSURANCE&ANNUITY ASS-144A-SUB 4.90000% 14-15.09.44 | 715 000.00 | 896 305.84 | 0.17 |
| USD | TEVA PHARMACEUTICAL FINANCE IV LLC 3.65000% 11-10.11.21 | 400 000.00 | 392 495.01 | 0.07 |
| USD | UNITD AIRLNS 2016-1 CL B PAS THRUGH TRT 3.65000% 17-07.01.26 | 355 000.00 | 314 707.94 | 0.06 |
| USD | VIRGINIA ELECTRIC & POWER CO 4.00000% 16-15.11.46 | 730 000.00 | 820 818.35 | 0.15 |
| USD | WALT DISNEY CO 6.20000% 19-15.12.34 | 2 040 000.00 | 2 890 686.52 | 0.53 |
| USD | WESTPAC BANKING CORP-SUB 4.42100% 19-24.07.39 | 1 230 000.00 | 1 330 946.10 | 0.25 |
| USD | XCEL ENERGY INC 4.80000% 11-15.09.41 | 1 510 000.00 | 1 749 430.88 | 0.32 |
| Total USD |  |  | 72 302 905.49 | 13.33 |
| Total des Billets, taux fixe |  | 76 677 350.66 | 14.14 |
| Billets, taux variable |  |  |  |
| USD |  |  |  |
| USD	BK OF AMERICA CORP 3.004%/VAR 18-20.12.23 | 2 600 000.00 | 2 655 414.84 | 0.49 |
| USD	JPMORGAN CHASE & CO 2.739%/VAR 19-15.10.30 | 2 370 000.00 | 2 364 518.59 | 0.44 |
| USD	LLOYDS BANKING GROUP PLC 3.574%/3M LIBOR+120.5BP 17-07.11.28 | 1 725 000.00 | 1 782 084.56 | 0.33 |
| USD	STANDARD CHARTERED PLC-REG-S 3.885%/VAR 18-15.03.24 | 3 900 000.00 | 4 035 900.57 | 0.74 |
| USD	WESTPAC BANKING CORP-SUB 4.110%/VAR 19-24.07.34 | 1 720 000.00 | 1 780 217.20 | 0.33 |
| Total USD |  | 12 618 135.76 | 2.33 |
| Total des Billets, taux variable |  | 12 618 135.76 | 2.33 |
| Medium-Term Notes, taux fixe |  |  |  |
| AUD |  |  |  |
| AUD	AUSGRID FINANCE PTY LTD-REG-S 3.75000% 17-30.10.24 | 960 000.00 | 704 992.78 | 0.13 |
| Total AUD |  | 704 992.78 | 0.13 |
| CAD |  |  |  |
| CAD	BELL CANADA 4.75000% 14-29.09.44 | 260 000.00 | 227 451.30 | 0.04 |
| CAD	SUNCOR ENERGY INC 3.00000% 16-14.09.26 | 650 000.00 | 503 067.94 | 0.09 |
| Total CAD |  | 730 519.24 | 0.13 |
| GBP |  |  |  |
| GBP	NATIONAL GRID ELECTRICITY TRANSMISSION 4.00000% 12-08.06.27 | 670 000.00 | 1 020 008.84 | 0.19 |
| Total GBP |  | 1 020 008.84 | 0.19 |
| Total des Medium-Term Notes, taux fixe |  | 2 455 520.86 | 0.45 |
| Obligations, taux fixe |  |  |  |
| JPY |  |  |  |
| JPY	BERKSHIRE HATHAWAY FINANCE CORP 0.44000% 19-13.09.29 | 280 000 000.00 | 2 546 914.54 | 0.47 |
| Total JPY |  | 2 546 914.54 | 0.47 |
| USD |  |  |  |
| USD	AT&T INC 3.00000% 12-15.02.22 | 1 070 000.00 | 1 091 572.81 | 0.20 |
| USD	COMCAST CORP 4.75000% 14-01.03.44 | 380 000.00 | 463 854.64 | 0.09 |
| USD	DUKE ENERGY CAROLINAS LLC 4.00000% 12-30.09.42 | 1 145 000.00 | 1 289 046.27 | 0.24 |
| USD	FIVE CORNERS FUNDING TRUST-144A 4.41900% 13-15.11.23 | 2 410 000.00 | 2 606 972.67 | 0.48 |
| USD	MONONGAHELA POWER CO-144A 5.40000% 13-15.12.43 | 630 000.00 | 834 549.60 | 0.15 |
| USD	PACIFICORP 6.00000% 09-15.01.39 | 1 265 000.00 | 1 753 590.31 | 0.32 |
| USD	PHILLIPS 66 4.65000% 14-15.11.34 | 650 000.00 | 763 457.30 | 0.14 |
| USD	TIME WARNER CABLE LLC 4.50000% 12-15.09.42 | 795 000.00 | 796 172.78 | 0.15 |
| USD	UBS GROUP AG-144A 2.95000% 15-24.09.20 | 1 900 000.00 | 1 914 454.25 | 0.35 |
| Total USD |  | 11 513 670.63 | 2.12 |
| Total des Obligations, taux fixe |  | 14 060 585.17 | 2.59 |
| Total des Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  | 105 811 592.45 | 19.51 |

Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé
Billets, taux fixe
| USD |  |
| --- | --- |
| USD | NOBLE ENERGY INC 3.85000% 17-15.01.28 | 700 000.00 | 727 352.43 | 0.13 |
| Total USD |  |  | 727 352.43 | 0.13 |
| Total des Billets, taux fixe | 727 352.43 | 0.13 |
| Total des Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé | 727 352.43 | 0.13 |

UBS (Lux) Bond SICAV – Global Corporates (USD) Rapport semestriel au 30 novembre 2019
| 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) |  |
| Nouvelles émissions de titres et instruments du marché monétaire Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	BRISTOL MYERS SQUIBB CO-144A 3.87500% 19-15.08.25 | 1 390 000.00 | 1 500 512.78 | 0.28 |
| Total USD |  | 1 500 512.78 | 0.28 |
| Total des Billets, taux fixe |  | 1 500 512.78 | 0.28 |
| Total des Nouvelles émissions de titres et instruments du marché monétaire |  | 1 500 512.78 | 0.28 |
| Instruments dérivés non négociés sur une bourse officielle ou sur un autre marché Options sur autres swaps, classic-styled | réglementé |  |  |
| EUR |  |  |  |
| EUR	BARCLAYS/ITRX.EUR.S32 SWAPTION PUT 62.50000% 18.12.19 | 19 000 000.00 | 11 073.85 | 0.00 |
| Total EUR |  | 11 073.85 | 0.00 |
| Total des Options sur autres swaps, classic-styled |  | 11 073.85 | 0.00 |
| Total des Instruments dérivés non négociés sur une bourse officielle ou sur un autre marché réglementé |  | 11 073.85 | 0.00 |
| Total du Portefeuille-titres |  | 507 893 381.20 | 93.65 |

| Instruments dérivés |  |
| --- | --- |
| Instruments dérivés négociés sur une bourse officielle |
| Contrats financiers à terme sur obligations |
|  |  |  |
| EUR	EURO-BUND FUTURE 06.12.19	-108.00 | 547 771.68 | 0.10 |
| EUR	EURO-BOBL FUTURE 06.12.19	-29.00 | 67 148.34 | 0.01 |
| GBP	LONG GILT FUTURE 27.03.20	-64.00 | 60 432.32 | 0.01 |
| CAD	CANADA 10YR BOND FUTURE 20.03.20	69.00 | 2 077.92 | 0.00 |
| USD	US 5YR TREASURY NOTE FUTURE 31.03.20	455.00 | -17 773.66 | 0.00 |
| USD	US ULTRA LONG BOND (CBT) FUTURE 20.03.20	-40.00 | -3 750.00 | 0.00 |
| USD	US 10YR TREASURY NOTE FUTURE 20.03.20	380.00 | -65 312.50 | -0.01 |
| Total des Contrats financiers à terme sur obligations | 590 594.10 | 0.11 |
| Total des Instruments dérivés négociés sur une bourse officielle | 590 594.10 | 0.11 |
| Instruments dérivés non négociés sur une bourse officielle ou sur un autre marché réglementé |  |  |
| Credit Default Swaps* |  |  |
|  |  |  |
| USD	JP MORGAN/TCKBCN CREDIT DEFAULT SWAP REC 1.00000% 14-20.03.20	190 000.00 | 883.60 | 0.00 |
| USD	BARCLAYS/TCKBCN CREDIT DEFAULT SWAP REC 1.00000% 15-20.09.20	215 000.00 | 1 964.02 | 0.00 |
| Total des Credit Default Swaps | 2 847.62 | 0.00 |
| Total des Instruments dérivés non négociés sur une bourse officielle ou sur un autre marché réglementé | 2 847.62 | 0.00 |
| Total des Instruments dérivés | 593 441.72 | 0.11 |
| Contrats de change à terme |  |  |
| Contrats de change à terme (achat/vente) |  |  |

| USD | 3 364 499.84 | JPY | 362 900 000.00 | 5.12.2019 | 50 080.48 | 0.01 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 34 210 630.55 | GBP | 26 435 000.00 | 5.12.2019 | 13 786.16 | 0.00 |
| USD | 5 649 541.38 | CAD | 7 430 000.00 | 5.12.2019 | 55 714.92 | 0.01 |
| USD | 154 897 773.36 | EUR | 138 480 000.00 | 5.12.2019 | 2 177 189.49 | 0.40 |
| USD | 3 386 767.29 | AUD | 4 895 000.00 | 5.12.2019 | 75 483.38 | 0.02 |
| CHF | 199 594 100.00 | USD | 202 465 711.68 | 5.12.2019 | -2 695 814.17 | -0.49 |
| EUR | 30 364 300.00 | USD | 33 964 200.32 | 5.12.2019 | -477 389.05 | -0.09 |
| USD | 6 798 580.38 | GBP | 5 295 000.00 | 5.12.2019 | -51 137.46 | -0.01 |
| USD | 1 035 317.01 | EUR | 933 400.00 | 5.12.2019 | 5 930.87 | 0.00 |
| USD | 2 787 885.73 | CHF | 2 774 200.00 | 5.12.2019 | 11 242.28 | 0.00 |
| Total des Contrats de change à terme (achat/vente) | -834 913.10 | -0.15 |
|  |  |  |
| Avoirs en banque, dépôts à vue et à terme et autres liquidités | 32 658 515.29 | 6.02 |
| Autres actifs et passifs | 2 020 804.96 | 0.37 |
| Total de l’Actif net | 542 331 230.07 | 100.00 |
| * Nominal positif: le compartiment est «receveur», nominal négatif: le compartiment est «payeur». |  |  |

UBS (Lux) Bond SICAV – Global Corporates (USD) Rapport semestriel au 30 novembre 2019