# UBS (Lux) Bond SICAV – Global Dynamic (USD)
| Most important figures |  |
| --- | --- |
|  | ISIN | 30.11.2022 | 31.5.2022 | 31.5.2021 |
| Net assets in USD |  | 1 175 964 785.41 | 1 073 426 743.85 | 1 387 273 948.99 |
| Class (EUR hedged) I-A1-acc | LU1240811650 |  |  |  |
| Shares outstanding |  | 609 326.9260 | 322 802.7180 | 696 720.5160 |
| Net asset value per share in EUR |  | 95.61 | 97.92 | 103.07 |
| Issue and redemption price per share in EUR 1 |  | 95.61 | 97.92 | 103.07 |
| Class I-A2-acc 2 | LU2189802106 |  |  |  |
| Shares outstanding |  | - | - | 984 720.2910 |
| Net asset value per share in USD |  | - | - | 104.75 |
| Issue and redemption price per share in USD 1 |  | - | - | 104.75 |
| Class I-A3-acc 3 | LU2099389871 |  |  |  |
| Shares outstanding |  | 935 802.4030 | 1 008 279.6370 | - |
| Net asset value per share in USD |  | 98.64 | 99.73 | - |
| Issue and redemption price per share in USD 1 |  | 98.64 | 99.73 | - |
| Class (EUR hedged) I-A3-acc | LU2134544555 |  |  |  |
| Shares outstanding |  | 32 802.6880 | 33 212.6330 | 43 257.2780 |
| Net asset value per share in EUR |  | 110.93 | 113.56 | 119.41 |
| Issue and redemption price per share in EUR 1 |  | 110.93 | 113.56 | 119.41 |
| Class I-B-acc | LU2113590561 |  |  |  |
| Shares outstanding |  | 93 144.7580 | 108 417.0740 | 296 804.2700 |
| Net asset value per share in USD |  | 96.81 | 97.64 | 101.26 |
| Issue and redemption price per share in USD 1 |  | 96.81 | 97.64 | 101.26 |
| Class (EUR hedged) I-B-acc | LU1193130314 |  |  |  |
| Shares outstanding |  | 78 958.1720 | 327 004.9150 | 410 405.4760 |
| Net asset value per share in EUR |  | 98.21 | 100.27 | 104.90 |
| Issue and redemption price per share in EUR 1 |  | 98.21 | 100.27 | 104.90 |
| Class I-X-acc | LU1138686867 |  |  |  |
| Shares outstanding |  | 228 439.6520 | 289 585.6960 | 378 558.2010 |
| Net asset value per share in USD |  | 130.50 | 131.57 | 136.37 |
| Issue and redemption price per share in USD 1 |  | 130.50 | 131.57 | 136.37 |
| Class (CHF hedged) I-X-acc | LU1557225098 |  |  |  |
| Shares outstanding |  | 848 737.4720 | 824 422.3640 | 511 993.5060 |
| Net asset value per share in CHF |  | 115.78 | 118.47 | 123.99 |
| Issue and redemption price per share in CHF 1 |  | 115.78 | 118.47 | 123.99 |
| Class (EUR hedged) I-X-acc | LU1822788151 |  |  |  |
| Shares outstanding |  | 155 895.5390 | 155 895.5390 | 121 225.2080 |
| Net asset value per share in EUR |  | 106.53 | 108.73 | 113.68 |
| Issue and redemption price per share in EUR 1 |  | 106.53 | 108.73 | 113.68 |
| Class (CAD hedged) I-X-qdist 4 | LU2493301084 |  |  |  |
| Shares outstanding |  | 2 700 000.0000 | - | - |
| Net asset value per share in CAD |  | 102.24 | - | - |
| Issue and redemption price per share in CAD 1 |  | 102.24 | - | - |
| Class K-B-acc | LU2282404438 |  |  |  |
| Shares outstanding |  | 296 651.9660 | 296 651.9660 | 326 900.0000 |
| Net asset value per share in USD |  | 94.86 | 95.69 | 99.29 |
| Issue and redemption price per share in USD 1 |  | 94.86 | 95.69 | 99.29 |
| Class K-X-acc | LU1860987145 |  |  |  |
| Shares outstanding |  | 140 788.8360 | 223 508.6630 | 164 788.8360 |
| Net asset value per share in USD |  | 115.43 | 116.39 | 120.69 |
| Issue and redemption price per share in USD 1 |  | 115.43 | 116.39 | 120.69 |
| Class K-X-dist | LU1917356179 |  |  |  |
| Shares outstanding |  | 149 093.0950 | 149 093.0950 | 149 093.0950 |
| Net asset value per share in USD |  | 96.83 | 100.45 | 107.42 |
| Issue and redemption price per share in USD 1 |  | 96.83 | 100.45 | 107.42 |
| Class P-4%-mdist | LU2051222904 |  |  |  |
| Shares outstanding |  | 30 897.7750 | 30 110.7940 | 43 916.0810 |
| Net asset value per share in USD |  | 88.39 | 91.54 | 100.16 |
| Issue and redemption price per share in USD 1 |  | 88.39 | 91.54 | 100.16 |
| Class P-acc | LU0891671751 |  |  |  |
| Shares outstanding |  | 586 498.0160 | 622 714.0450 | 649 268.7490 |
| Net asset value per share in USD |  | 121.51 | 123.39 | 129.75 |
| Issue and redemption price per share in USD 1 |  | 121.51 | 123.39 | 129.75 |
| Class (CHF hedged) P-acc | LU0891672213 |  |  |  |
| Shares outstanding |  | 123 208.9580 | 101 053.1660 | 124 770.3430 |
| Net asset value per share in CHF |  | 102.61 | 105.77 | 112.36 |
| Issue and redemption price per share in CHF 1 |  | 102.61 | 105.77 | 112.36 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Semi-Annual Report as of 30 November 2022
|  | ISIN | 30.11.2022 | 31.5.2022 | 31.5.2021 |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Class (EUR hedged) P-acc | LU0891672056 |  |  |  |
| Shares outstanding |  | 2 147 654.6310 | 2 373 561.3340 | 2 792 700.8260 |
| Net asset value per share in EUR |  | 106.51 | 109.52 | 116.22 |
| Issue and redemption price per share in EUR 1 |  | 106.51 | 109.52 | 116.22 |
| Class P-dist | LU0891671835 |  |  |  |
| Shares outstanding |  | 59 699.1500 | 48 293.2440 | 44 236.5250 |
| Net asset value per share in USD |  | 105.51 | 108.32 | 115.52 |
| Issue and redemption price per share in USD 1 |  | 105.51 | 108.32 | 115.52 |
| Class (CHF hedged) P-dist | LU0891672304 |  |  |  |
| Shares outstanding |  | 37 869.0600 | 36 153.5680 | 40 564.8980 |
| Net asset value per share in CHF |  | 88.58 | 92.68 | 100.14 |
| Issue and redemption price per share in CHF 1 |  | 88.58 | 92.68 | 100.14 |
| Class (EUR hedged) P-dist | LU0891672130 |  |  |  |
| Shares outstanding |  | 66 686.9600 | 100 801.5470 | 145 771.3230 |
| Net asset value per share in EUR |  | 91.64 | 95.86 | 103.31 |
| Issue and redemption price per share in EUR 1 |  | 91.64 | 95.86 | 103.31 |
| Class Q-4%-mdist | LU2038039314 |  |  |  |
| Shares outstanding |  | 43 145.2060 | 137 554.7230 | 128 104.7630 |
| Net asset value per share in USD |  | 89.53 | 92.44 | 100.52 |
| Issue and redemption price per share in USD 1 |  | 89.53 | 92.44 | 100.52 |
| Class Q-acc | LU1240774783 |  |  |  |
| Shares outstanding |  | 783 090.3320 | 804 984.6060 | 983 891.7330 |
| Net asset value per share in USD |  | 121.29 | 122.80 | 128.35 |
| Issue and redemption price per share in USD 1 |  | 121.29 | 122.80 | 128.35 |
| Class (CHF hedged) Q-acc | LU1240774437 |  |  |  |
| Shares outstanding |  | 393 975.0120 | 412 244.6670 | 474 582.3430 |
| Net asset value per share in CHF |  | 103.50 | 106.37 | 112.32 |
| Issue and redemption price per share in CHF 1 |  | 103.50 | 106.37 | 112.32 |
| Class (EUR hedged) Q-acc | LU1240774601 |  |  |  |
| Shares outstanding |  | 637 869.1960 | 617 139.2940 | 845 260.0870 |
| Net asset value per share in EUR |  | 106.26 | 108.94 | 114.91 |
| Issue and redemption price per share in EUR 1 |  | 106.26 | 108.94 | 114.91 |
| Class Q-dist | LU1240774866 |  |  |  |
| Shares outstanding |  | 184 422.1050 | 219 860.9530 | 235 677.3560 |
| Net asset value per share in USD |  | 105.78 | 109.38 | 117.01 |
| Issue and redemption price per share in USD 1 |  | 105.78 | 109.38 | 117.01 |
| Class (CHF hedged) Q-dist | LU1240774510 |  |  |  |
| Shares outstanding |  | 150 276.9680 | 143 870.9260 | 153 651.6680 |
| Net asset value per share in CHF |  | 90.11 | 94.47 | 101.94 |
| Issue and redemption price per share in CHF 1 |  | 90.11 | 94.47 | 101.94 |
| Class (EUR hedged) Q-dist | LU1109640307 |  |  |  |
| Shares outstanding | 68 249.8430 | 57 812.7180 | 68 774.5520 |
| Net asset value per share in EUR | 90.59 | 94.64 | 102.27 |
| Issue and redemption price per share in EUR 1 | 90.59 | 94.64 | 102.27 |
| 1  See note 1 2  For the period from 2.7.2020 to 12.4.2022 the share class I-A2-acc was in circulation 3  First NAV: 13.4.2022 4  First NAV: 14.7.2022 |  |  |  |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Semi-Annual Report as of 30 November 2022

### Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
United States	42.35
New Zealand	12.35
United Kingdom	7.45
Luxembourg	4.25
Italy	4.08
Spain	3.71
Mexico	3.31
France	2.44
The Netherlands	2.01
Slovenia	1.38
Germany	1.28
China	1.28
Brazil	1.21
Russian Federation (CIS)	1.09
Canada	0.72
Denmark	0.63
Switzerland	0.57
Australia	0.56
Japan	0.44
Cayman Islands	0.35
Turkey	0.34
Romania	0.33
Norway	0.33
Peru	0.28
Greece	0.27
Kazakhstan	0.27
India	0.20
Colombia	0.18
Mongolia	0.17
Costa Rica	0.17
Bulgaria	0.14
Thailand	0.14
Finland	0.14
Ghana	0.12
Egypt	0.11
Saudi Arabia	0.11
Kenya	0.10
Nigeria	0.10
Philippines	0.10
Bermuda	0.09
Poland	0.07
Czech Republic	0.07
Ecuador	0.06
Argentina	0.06
Ireland	0.06
Sweden	0.05
Jersey	0.04
Belgium	0.04
Chile	0.04
Economic Breakdown as a % of net assets	
Countries & central governments	69.42
Mortgage & funding institutions	4.89
Finance & holding companies	4.66
Banks & credit institutions	4.49
Investment funds	2.84
Traffic & transportation	1.39
Telecommunications	1.07
Energy & water supply	0.90
Insurance	0.88
Chemicals	0.72
Miscellaneous unclassified companies	0.68
Petroleum	0.63
Real Estate	0.56
Cantons, federal states	0.50
Retail trade, department stores	0.44
Internet, software & IT services	0.42
Mining, coal & steel	0.27
Tobacco & alcohol	0.20
Vehicles	0.19
Electrical devices & components	0.18
Mechanical engineering & industrial equipment	0.10
Healthcare & social services	0.07
Computer hardware & network equipment providers	0.05
Packaging industry	0.04
Graphic design, publishing & media	0.03
Miscellaneous services	0.02
Total	95.64
Total	95.64
UBS (Lux) Bond SICAV – Global Dynamic (USD) Semi-Annual Report as of 30 November 2022

### Statement of Net Assets
USD
Investments in securities, cost	1 338 927 822.58
Investments in securities, unrealized appreciation (depreciation)	214 245 815.64
Total investments in securities (Note 1)	1 124 682 006.94
Cash at banks, deposits on demand and deposit accounts	57 797 262.36*
Other liquid assets (Margins)	27 403 169.33
Receivable on securities sales (Note 1)	40 600 971.49
Receivable on subscriptions	662 216.20
Interest receivable on securities	8 355 766.80
Interest receivable on liquid assets	5 589.52
Prepaid expenses	72 294.91
Unrealized gain on financial futures (Note 1)	710 074.53
Unrealized gain on swaps (Note 1)	6 211 190.14
Unrealized loss on forward foreign exchange contracts (Note 1)	-31 161 082.58
Bank overdraft	-9 322 202.36
Interest payable on bank overdraft	-386.89
Payable on securities purchases (Note 1)	-48 482 734.38
Payable on redemptions	-768 715.78
Provisions for flat fee (Note 2)	-661 118.47
Provisions for taxe d’abonnement (Note 3)	-63 033.31
Provisions for other commissions and fees (Note 2)		-76 483.04		 Total provisions			-800 634.82

### Statement of Operations
USD
Interest on liquid assets	522 198.83
Interest on securities	14 543 929.76
Dividends	1 793 438.66
Interest received on swaps (Note 1)	16 391 399.96
Net income on securities lending (Note 11)	196 862.31
Other income (Note 4)	844 010.90
Interest paid on swaps (Note 1)	-16 548 382.79
Flat fee (Note 2)	-3 968 016.68
Taxe d’abonnement (Note 3)	-175 977.36
Other commissions and fees (Note 2)	-74 686.45
Interest on cash and bank overdraft	-255 265.89
Realized gain (loss) on market-priced securities without options	-38 366 025.94
Realized gain (loss) on yield-evaluated securities and money market instruments	584 555.89
Realized gain (loss) on financial futures	46 275 101.33
Realized gain (loss) on forward foreign exchange contracts	8 188 291.06
Realized gain (loss) on swaps	12 965 566.10
Realized gain (loss) on foreign exchange	11 836 484.70
Unrealized appreciation (depreciation) on market-priced securities without options	-20 971 765.96 Unrealized appreciation (depreciation) on yield-evaluated securities and money market instruments		6 391.22
Unrealized appreciation (depreciation) on financial futures	-15 919 874.56
Unrealized appreciation (depreciation) on forward foreign exchange contracts	-35 438 731.83
Unrealized appreciation (depreciation) on swaps	-23 835 919.71
* As at 30 November 2022, cash amounts serve as collateral for the counterparty Citibank for an amount of USD 1 240 000.00, JP Morgan for an amount of USD 546 000.00 and Morgan Stanley London for an amount of USD 51 000.00.
UBS (Lux) Bond SICAV – Global Dynamic (USD) Semi-Annual Report as of 30 November 2022
| Changes in Net Assets |  |
| --- | --- |
|  | USD |
|  | 1.6.2022-30.11.2022 |
| Net assets at the beginning of the period | 1 073 426 743.85 |
| Subscriptions | 293 595 022.69 |
| Redemptions | 	-146 451 900.53	 |
| Total net subscriptions (redemptions) | 147 143 122.16 |
| Dividend paid | -3 198 664.15 |
| Net income (loss) on investments | 13 269 511.25 |
| Total realized gain (loss) | 41 483 973.14 |
| Total changes in unrealized appreciation (depreciation) | 	-96 159 900.84	 |
| Net increase (decrease) in net assets as a result of operations | -41 406 416.45 |
| Net assets at the end of the period | 1 175 964 785.41 |
| Changes in the Number of Shares outstanding |  |
|  | 1.6.2022-30.11.2022 |
| Class | (EUR hedged) I-A1-acc |
| Number of shares outstanding at the beginning of the period | 322 802.7180 |
| Number of shares issued | 311 090.6250 |
| Number of shares redeemed | -24 566.4170 |
| Number of shares outstanding at the end of the period | 609 326.9260 |
| Class | I-A3-acc |
| Number of shares outstanding at the beginning of the period | 1 008 279.6370 |
| Number of shares issued | 58 603.6090 |
| Number of shares redeemed | -131 080.8430 |
| Number of shares outstanding at the end of the period | 935 802.4030 |
| Class | (EUR hedged) I-A3-acc |
| Number of shares outstanding at the beginning of the period | 33 212.6330 |
| Number of shares issued | 3 349.0050 |
| Number of shares redeemed | -3 758.9500 |
| Number of shares outstanding at the end of the period | 32 802.6880 |
| Class | I-B-acc |
| Number of shares outstanding at the beginning of the period | 108 417.0740 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -15 272.3160 |
| Number of shares outstanding at the end of the period | 93 144.7580 |
| Class | (EUR hedged) I-B-acc |
| Number of shares outstanding at the beginning of the period | 327 004.9150 |
| Number of shares issued | 40 885.2000 |
| Number of shares redeemed | -288 931.9430 |
| Number of shares outstanding at the end of the period | 78 958.1720 |
| Class | I-X-acc |
| Number of shares outstanding at the beginning of the period | 289 585.6960 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -61 146.0440 |
| Number of shares outstanding at the end of the period | 228 439.6520 |
| Class | (CHF hedged) I-X-acc |
| Number of shares outstanding at the beginning of the period | 824 422.3640 |
| Number of shares issued | 26 865.9730 |
| Number of shares redeemed | -2 550.8650 |
| Number of shares outstanding at the end of the period | 848 737.4720 |
| Class | (EUR hedged) I-X-acc |
| Number of shares outstanding at the beginning of the period | 155 895.5390 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 155 895.5390 |
| Class | (CAD hedged) I-X-qdist |
| Number of shares outstanding at the beginning of the period | 0.0000 |
| Number of shares issued | 2 700 000.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 2 700 000.0000 |
| Class | K-B-acc |
| Number of shares outstanding at the beginning of the period | 296 651.9660 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 296 651.9660 |
| Class | K-X-acc |
| Number of shares outstanding at the beginning of the period | 223 508.6630 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -82 719.8270 |
| Number of shares outstanding at the end of the period | 140 788.8360 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Semi-Annual Report as of 30 November 2022
| Class | K-X-dist |
| --- | --- |
| Number of shares outstanding at the beginning of the period | 149 093.0950 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 149 093.0950 |
| Class | P-4%-mdist |
| Number of shares outstanding at the beginning of the period | 30 110.7940 |
| Number of shares issued | 41 492.2970 |
| Number of shares redeemed | -40 705.3160 |
| Number of shares outstanding at the end of the period | 30 897.7750 |
| Class | P-acc |
| Number of shares outstanding at the beginning of the period | 622 714.0450 |
| Number of shares issued | 26 704.8350 |
| Number of shares redeemed | -62 920.8640 |
| Number of shares outstanding at the end of the period | 586 498.0160 |
| Class | (CHF hedged) P-acc |
| Number of shares outstanding at the beginning of the period | 101 053.1660 |
| Number of shares issued | 27 585.0950 |
| Number of shares redeemed | -5 429.3030 |
| Number of shares outstanding at the end of the period | 123 208.9580 |
| Class | (EUR hedged) P-acc |
| Number of shares outstanding at the beginning of the period | 2 373 561.3340 |
| Number of shares issued | 36 832.8570 |
| Number of shares redeemed | -262 739.5600 |
| Number of shares outstanding at the end of the period | 2 147 654.6310 |
| Class | P-dist |
| Number of shares outstanding at the beginning of the period | 48 293.2440 |
| Number of shares issued | 13 042.8390 |
| Number of shares redeemed | -1 636.9330 |
| Number of shares outstanding at the end of the period | 59 699.1500 |
| Class | (CHF hedged) P-dist |
| Number of shares outstanding at the beginning of the period | 36 153.5680 |
| Number of shares issued | 3 363.5220 |
| Number of shares redeemed | -1 648.0300 |
| Number of shares outstanding at the end of the period | 37 869.0600 |
| Class | (EUR hedged) P-dist |
| Number of shares outstanding at the beginning of the period | 100 801.5470 |
| Number of shares issued | 2 712.3760 |
| Number of shares redeemed | -36 826.9630 |
| Number of shares outstanding at the end of the period | 66 686.9600 |
| Class | Q-4%-mdist |
| Number of shares outstanding at the beginning of the period | 137 554.7230 |
| Number of shares issued | 5 695.4080 |
| Number of shares redeemed | -100 104.9250 |
| Number of shares outstanding at the end of the period | 43 145.2060 |
| Class | Q-acc |
| Number of shares outstanding at the beginning of the period | 804 984.6060 |
| Number of shares issued | 87 824.2550 |
| Number of shares redeemed | -109 718.5290 |
| Number of shares outstanding at the end of the period | 783 090.3320 |
| Class | (CHF hedged) Q-acc |
| Number of shares outstanding at the beginning of the period | 412 244.6670 |
| Number of shares issued | 26 098.1880 |
| Number of shares redeemed | -44 367.8430 |
| Number of shares outstanding at the end of the period | 393 975.0120 |
| Class | (EUR hedged) Q-acc |
| Number of shares outstanding at the beginning of the period | 617 139.2940 |
| Number of shares issued | 90 594.6740 |
| Number of shares redeemed | -69 864.7720 |
| Number of shares outstanding at the end of the period | 637 869.1960 |
| Class | Q-dist |
| Number of shares outstanding at the beginning of the period | 219 860.9530 |
| Number of shares issued | 5 781.1180 |
| Number of shares redeemed | -41 219.9660 |
| Number of shares outstanding at the end of the period | 184 422.1050 |
| Class | (CHF hedged) Q-dist |
| Number of shares outstanding at the beginning of the period | 143 870.9260 |
| Number of shares issued | 16 562.7770 |
| Number of shares redeemed | -10 156.7350 |
| Number of shares outstanding at the end of the period | 150 276.9680 |
| Class | (EUR hedged) Q-dist |
| Number of shares outstanding at the beginning of the period | 57 812.7180 |
| Number of shares issued | 11 605.8850 |
| Number of shares redeemed | -1 168.7600 |
| Number of shares outstanding at the end of the period | 68 249.8430 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Semi-Annual Report as of 30 November 2022
| Annual Distribution 1 |  |
| --- | --- |
| UBS (Lux) Bond SICAV – Global Dynamic (USD) | Ex-Date | Pay-Date | Currency | Amount per share |
| K-X-dist | 1.8.2022 | 4.8.2022 | USD | 2.73 |
| P-dist | 1.8.2022 | 4.8.2022 | USD | 1.14 |
| (CHF hedged) P-dist | 1.8.2022 | 4.8.2022 | CHF | 1.32 |
| (EUR hedged) P-dist | 1.8.2022 | 4.8.2022 | EUR | 1.57 |
| Q-dist | 1.8.2022 | 4.8.2022 | USD | 2.22 |
| (CHF hedged) Q-dist | 1.8.2022 | 4.8.2022 | CHF | 1.80 |
| (EUR hedged) Q-dist | 1.8.2022 | 4.8.2022 | EUR | 1.70 |
| Quarterly Distribution 1 |  |  |  |  |
| UBS (Lux) Bond SICAV – Global Dynamic (USD) | Ex-Date | Pay-Date | Currency | Amount per share |
| (CAD hedged) I-X-qdist | 17.10.2022 | 20.10.2022 | CAD | 0.69 |
| Monthly Distribution 1 |  |  |  |  |
| UBS (Lux) Bond SICAV – Global Dynamic (USD) | Ex-Date | Pay-Date | Currency | Amount per share |
| P-4%-mdist | 10.6.2022 | 15.6.2022 | USD | 0.30 |
| P-4%-mdist | 11.7.2022 | 14.7.2022 | USD | 0.29 |
| P-4%-mdist | 10.8.2022 | 15.8.2022 | USD | 0.29 |
| P-4%-mdist | 13.9.2022 | 16.9.2022 | USD | 0.29 |
| P-4%-mdist | 11.10.2022 | 14.10.2022 | USD | 0.28 |
| P-4%-mdist | 10.11.2022 | 15.11.2022 | USD | 0.28 |
| Q-4%-mdist | 10.6.2022 | 15.6.2022 | USD | 0.30 |
| Q-4%-mdist | 11.7.2022 | 14.7.2022 | USD | 0.29 |
| Q-4%-mdist | 10.8.2022 | 15.8.2022 | USD | 0.29 |
| Q-4%-mdist | 13.9.2022 | 16.9.2022 | USD | 0.29 |
| Q-4%-mdist | 11.10.2022 | 14.10.2022 | USD | 0.29 |
| Q-4%-mdist | 10.11.2022 | 15.11.2022 | USD | 0.29 |
| 1  See note 5 |  |  |  |  |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Semi-Annual Report as of 30 November 2022

### Statement of Investments in Securities and other Net Assets as of 30 November 2022
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Transferable securities and money market instruments listed on an official stock exchange |  |  |  |
| Notes, fixed rate |  |  |  |
| BRL |  |  |  |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF 10.00000% 16-01.01.27 | 10 250.00 | 1 787 816.66 | 0.15 |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF 10.00000% 20-01.01.31 | 70 550.00 | 11 661 331.03 | 0.99 |
| Total BRL |  | 13 449 147.69 | 1.14 |
| CAD |  |  |  |
| CAD	ONTARIO, PROVINCE OF 2.70000% 19-02.06.29 | 6 000 000.00 | 4 184 306.26 | 0.36 |
| CAD	QUEBEC, PROVINCE OF 2.30000% 19-01.09.29 | 2 500 000.00 | 1 698 618.80 | 0.14 |
| Total CAD |  | 5 882 925.06 | 0.50 |
| EUR |  |  |  |
| EUR	ALTICE FINCO SA-REG-S 4.75000% 17-15.01.28 | 1 000 000.00 | 787 939.66 | 0.07 |
| EUR	ALTICE FRANCE HOLDING SA-REG-S 8.00000% 19-15.05.27 | 3 125 000.00 | 2 443 102.04 | 0.21 |
| EUR	ALTICE FRANCE-REG-S 5.87500% 18-01.02.27 | 2 240 000.00 | 2 075 866.65 | 0.18 |
| EUR	ARD FINANCE SA-REG-S (PIK) 5.00000% 19-30.06.27 | 2 202 600.00 | 1 590 778.08 | 0.13 |
| EUR	BACARDI LTD-REG-S 2.75000% 13-03.07.23 | 200 000.00 | 205 120.69 | 0.02 |
| EUR	BP CAPITAL MARKETS BV-REG-S 0.93300% 20-04.12.40 | 790 000.00 | 542 016.05 | 0.05 |
| EUR	BULGARIAN ENERGY HOLDING EAD-REG-S 2.45000% 21-22.07.28 | 2 115 000.00 | 1 675 203.22 | 0.14 |
| EUR	CELANESE US HOLDINGS LLC 4.77700% 22-19.07.26 | 1 000 000.00 | 994 833.55 | 0.08 |
| EUR	CHINA, PEOPLE’S REPUBLIC OF-REG-S 1.00000% 19-12.11.39 | 2 810 000.00 | 2 069 263.80 | 0.18 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 2.87500% 21-11.02.25 | 2 000 000.00 | 1 954 110.95 | 0.17 |
| EUR	DKT FINANCE APS-REG-S 7.00000% 18-17.06.23 | 5 225 000.00 | 5 237 600.82 | 0.44 |
| EUR	EG GLOBAL FINANCE PLC-REG-S 4.37500% 19-07.02.25 | 2 500 000.00 | 2 246 130.00 | 0.19 |
| EUR	EG GLOBAL FINANCE PLC-REG-S 6.25000% 19-30.10.25 | 500 000.00 | 450 471.88 | 0.04 |
| EUR	FISERV INC 1.62500% 19-01.07.30 | 495 000.00 | 433 484.15 | 0.04 |
| EUR	GTC AURORA LUXEMBOURG SA-REG-S 2.25000% 21-23.06.26 | 1 315 000.00 | 986 381.53 | 0.08 |
| EUR	JAGUAR LAND ROVER AUTOMOTIVE PLC-REG-S 4.50000% 18-15.01.26 | 1 700 000.00 | 1 554 786.74 | 0.13 |
| EUR	MACIF-REG-S-SUB 0.62500% 21-21.06.27 | 1 000 000.00 | 854 339.73 | 0.07 |
| EUR	NATIONAL GRID ELECTRICITY TRANS-REG-S 0.19000% 20-20.01.25 | 535 000.00 | 516 590.27 | 0.04 |
| EUR	TELE COLUMBUS AG-REG-S 3.87500% 18-02.05.25 | 545 000.00 | 438 001.63 | 0.04 |
| EUR	TEVA PHARMACEUTICAL FINANCE II BV 4.50000% 18-01.03.25 | 1 500 000.00 | 1 489 742.67 | 0.13 |
| EUR	TRITAX EUROBOX PLC-REG-S 0.95000% 21-02.06.26 | 760 000.00 | 641 155.14 | 0.05 |
| EUR	VERISURE MIDHOLDING AB-REG-S 5.25000% 21-15.02.29 | 715 000.00 | 593 561.05 | 0.05 |
| Total EUR |  | 29 780 480.30 | 2.53 |
| GBP |  |  |  |
| GBP	CPUK FINANCE LTD-REG-S 4.50000% 21-28.08.27 | 530 000.00 | 523 823.90 | 0.05 |
| Total GBP |  | 523 823.90 | 0.05 |
| USD |  |  |  |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 4.50000% 20-15.09.23 | 240 000.00 | 237 028.45 | 0.02 |
| USD	AERCAP IRELAND CAP/ GLBL AVIATION TRUST 6.50000% 20-15.07.25 | 310 000.00 | 313 180.62 | 0.03 |
| USD	ALTRIA GROUP INC 4.25000% 12-09.08.42 | 150 000.00 | 111 843.56 | 0.01 |
| USD	ALTRIA GROUP INC 4.80000% 19-14.02.29 | 56 000.00 | 53 752.61 | 0.00 |
| USD	AMERICAN EXPRESS CO 3.40000% 18-27.02.23 | 750 000.00 | 747 992.77 | 0.06 |
| USD	APT PIPELINES LTD-REG-S 4.20000% 15-23.03.25 | 1 000 000.00 | 961 869.10 | 0.08 |
| USD	ARCELORMITTAL SA 6.80000% 22-29.11.32 | 2 695 000.00 | 2 723 646.82 | 0.23 |
| USD	ARGENTINA, REPUBLIC OF STEP-UP 20-09.07.35 | 970 000.00 | 235 225.00 | 0.02 |
| USD	ARGENTINA, REPUBLIC OF STEP-UP 20-09.01.38 | 210 305.00 | 63 590.97 | 0.01 |
| USD	ARGENTINA, REPUBLIC OF 1.00000% 20-09.07.29 | 55 703.00 | 14 482.78 | 0.00 |
| USD	CELANESE US HOLDINGS LLC 6.05000% 22-15.03.25 | 1 980 000.00 | 1 970 055.45 | 0.17 |
| USD	CELANESE US HOLDINGS LLC 6.16500% 22-15.07.27 | 1 595 000.00 | 1 561 104.80 | 0.13 |
| USD	CELANESE US HOLDINGS LLC 5.90000% 22-05.07.24 | 1 545 000.00 | 1 535 553.49 | 0.13 |
| USD	CHILE, REPUBLIC OF 3.86000% 17-21.06.47 | 600 000.00 | 477 750.00 | 0.04 |
| USD	COLOMBIA, REPUBLIC OF 5.20000% 19-15.05.49 | 1 000 000.00 | 672 500.00 | 0.06 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 4.25000% 12-26.01.23 | 2 000 000.00 | 1 991 625.00 | 0.17 |
| USD	DISCOVERY COMMUNICATIONS LLC 5.30000% 19-15.05.49 | 500 000.00 | 392 623.10 | 0.03 |
| USD	ECUADOR GOVT INTERNATIONAL BD-REG-S STEP-UP/DOWN 20-31.07.35 | 802 386.00 | 349 439.10 | 0.03 |
| USD	ECUADOR, REPUBLIC OF-REG-S STEP-UP 0.50000% 20-31.07.30 | 306 180.00 | 185 391.99 | 0.02 |
| USD	ECUADOR, REPUBLIC OF-REG-S STEP-UP 20-31.07.40 | 367 740.00 | 145 785.93 | 0.01 |
| USD	FISERV INC 3.20000% 19-01.07.26 | 620 000.00 | 583 645.08 | 0.05 |
| USD	FLOWSERVE CORP 3.50000% 20-01.10.30 | 1 450 000.00 | 1 213 628.29 | 0.10 |
| USD	GENERAL MOTORS CO 6.12500% 20-01.10.25 | 705 000.00 | 714 224.02 | 0.06 |
| USD	GENERAL MOTORS FINANCIAL CO 4.35000% 18-09.04.25 | 300 000.00 | 293 616.16 | 0.03 |
| USD	GEORGIA POWER CO 2.10000% 20-30.07.23 | 480 000.00 | 470 103.42 | 0.04 |
| USD	GHANA GOVT INTNL BOND-REG-S 6.37500% 20-11.02.27 | 3 700 000.00 | 1 406 000.00 | 0.12 |
| USD	GOLDMAN SACHS GROUP INC 3.50000% 20-01.04.25 | 1 100 000.00 | 1 064 449.44 | 0.09 |
| USD	INTERNATIONAL BUSINESS MACHINES CORP 3.30000% 19-15.05.26 | 550 000.00 | 525 057.29 | 0.05 |
| USD	JPMORGAN CHASE & CO 3.20000% 13-25.01.23 | 500 000.00 | 499 029.86 | 0.04 |
| USD	KENYA, REPUBLIC OF-REG-S 8.25000% 18-28.02.48 | 1 550 000.00 | 1 214 812.50 | 0.10 |
| USD	MEITUAN DIANPING-REG-S 3.05000% 20-28.10.30 | 3 600 000.00 | 2 654 550.00 | 0.23 |
| USD	NIGERIA, FEDERAL REPUBLIC OF-REG-S 9.24800% 18-21.01.49 | 1 500 000.00 | 1 136 250.00 | 0.10 |
| USD	PEGASUS HAVA TASIMACILIGI AS-REG-S 9.25000% 21-30.04.26 | 1 315 000.00 | 1 235 524.68 | 0.11 |
| USD	PHILIPPINES, REPUBLIC OF THE 2.45700% 20-05.05.30 | 1 300 000.00 | 1 114 893.00 | 0.10 |
| USD	RAKUTEN GROUP INC-REG-S 10.25000% 22-30.11.24 | 3 945 000.00 | 3 872 795.61 | 0.33 |
| USD	RELIANCE INDUSTRIES LTD-REG-S 3.62500% 22-12.01.52 | 3 500 000.00 | 2 365 343.75 | 0.20 |
| USD	REYNOLDS AMERICAN INC 5.70000% 15-15.08.35 | 400 000.00 | 369 274.43 | 0.03 |
| USD	SANTOS FINANCE LTD-REG-S 3.64900% 21-29.04.31 | 1 540 000.00 | 1 230 622.93 | 0.10 |
| USD	SAUDI ARABIAN OIL CO-REG-S 1.62500% 20-24.11.25 | 420 000.00 | 383 250.00 | 0.03 |
| USD	SHIMAO PRPTY HLDG LTD-REG-S *DEFAULTED* 4.60000% 20-13.07.30 | 200 000.00 | 21 000.00 | 0.00 |
| USD	SHIMAO PRPTY HLDG LTD-REG-S *DEFAULTED* 3.45000% 21-11.01.31 | 725 000.00 | 76 125.00 | 0.01 |
| USD	SHIMAO PRPTY HLDG LTD-REG-S *DEFAULTED* 5.20000% 21-16.01.27 | 970 000.00 | 106 700.00 | 0.01 |
| USD	SPRINT CORP 7.87500% 14-15.09.23 | 1 000 000.00 | 1 021 640.00 | 0.09 |
| USD	SUNAC CHINA HOLDINGS-REG-S *DEFAULTED* 7.00000% 20-09.07.25 | 875 000.00 | 95 156.25 | 0.01 |
| USD	TURKEY, REPUBLIC OF 6.87500% 06-17.03.36 | 2 680 000.00 | 2 237 800.00 | 0.19 |
| USD	VEB FINANCE PLC-REG-S LPN 5.94200% 13-21.11.23 | 500 000.00 | 24 062.50 | 0.00 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Semi-Annual Report as of 30 November 2022
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | VMWARE INC 1.00000% 21-15.08.24 | 1 040 000.00 | 968 373.13 | 0.08 |
| USD | WESTPAC BANKING CORP-SUB 4.42100% 19-24.07.39 | 325 000.00 | 263 347.86 | 0.02 |
| USD | YPF SA-REG-S 6.95000% 17-21.07.27 | 400 000.00 | 266 600.00 | 0.02 |
| USD | YPF SA-REG-S 7.00000% 17-15.12.47 | 230 000.00 | 126 500.00 | 0.01 |
| Total USD |  |  | 42 298 816.74 | 3.60 |
| Total Notes, fixed rate |  | 91 935 193.69 | 7.82 |
| Notes, zero coupon |  |  |  |
| USD |  |  |  |
| USD	ECUADOR, REPUBLIC OF-REG-S 0.00000% 20-31.07.30 | 105 089.00 | 38 442.87 | 0.00 |
| Total USD |  | 38 442.87 | 0.00 |
| Total Notes, zero coupon |  | 38 442.87 | 0.00 |
| Notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	ASR NEDERLAND NV-REG-S-SUB 7.000%/VAR 22-07.12.43 | 990 000.00 | 1 062 406.91 | 0.09 |
| EUR	BPCE SA-REG-S-SUB 1.500%/VAR 21-13.01.42 | 2 600 000.00 | 2 287 841.12 | 0.20 |
| EUR	BRITISH AMERICAN TOBACCO PLC-REG-S -SUB 3.750%/VAR 21-PRP | 2 070 000.00 | 1 615 676.40 | 0.14 |
| EUR	CREDIT SUISSE GROUP-REG-S 2.125%/VAR 22-13.10.26 | 2 560 000.00 | 2 247 572.07 | 0.19 |
| EUR	CREDIT SUISSE GROUP-REG-S 2.875%/VAR 22-02.04.32 | 1 595 000.00 | 1 167 436.23 | 0.10 |
| EUR	ENI SPA-REG-S-SUB 3.375%/VAR 20-PRP | 375 000.00 | 322 409.15 | 0.03 |
| EUR	ITALY, REPUBLIC OF-144A-REG-S 2.350%/CPI LINKED 14-15.09.24 | 4 270 000.00 | 5 526 851.85 | 0.47 |
| EUR	ORSTED AS-REG-S-SUB 5.250%/VAR 22-08.12.22 | 790 000.00 | 813 423.50 | 0.07 |
| EUR	RAKUTEN GROUP INC-REG-S-SUB 4.250%VAR 21-PRP | 2 210 000.00 | 1 333 009.10 | 0.11 |
| EUR	TELEFONICA EUROPE BV-REG-S-SUB 7.125%/VAR 22-PRP | 1 600 000.00 | 1 703 815.40 | 0.14 |
| EUR	VOLKSWAGEN INTERNATIONAL FIN-REG-S-SUB 4.375%/VAR 22-PRP | 600 000.00 | 515 780.52 | 0.04 |
| EUR	WINTERSHALL DEA FINANCE 2BV-REG-S-SUB 2.498%/VAR 21-PRP | 1 900 000.00 | 1 613 976.38 | 0.14 |
| EUR	WINTERSHALL DEA FINANCE 2BV-REG-S-SUB 3.000%/VAR 21-PRP | 1 500 000.00 | 1 167 172.11 | 0.10 |
| Total EUR |  | 21 377 370.74 | 1.82 |
| USD |  |  |  |
| USD	ALLIANZ SE-REG-S-SUB 3.500%/VAR 20-PRP | 800 000.00 | 679 000.00 | 0.06 |
| USD	BARCLAYS PLC-SUB COCO 8.000% 22-PRP | 1 035 000.00 | 975 487.50 | 0.08 |
| USD	CORP FINANCIERA DE DESARROL-REG-S-SUB 5.250%/VAR 14-15.07.29 | 500 000.00 | 474 000.00 | 0.04 |
| USD	CREDIT SUISSE GROUP AG-REG-S-SUB 6.250%/VAR 14-PRP | 480 000.00 | 364 800.00 | 0.03 |
| USD	DEUTSCHE BANK AG/NEW YORK NY 2.222%/VAR 20-18.09.24 | 355 000.00 | 340 587.66 | 0.03 |
| USD	ELECTRICITE DE FRANCE SA-REG-S-SUB 5.625%/VAR 14-PRP | 450 000.00 | 423 340.90 | 0.04 |
| USD	PRUDENTIAL PLC-SUB-REG-S 2.950%/VAR 21-03.11.33 | 3 105 000.00 | 2 456 353.08 | 0.21 |
| USD	SOCIETE GENERAL SA-REG-S-SUB 7.375%/VAR 18-PRP | 2 000 000.00 | 1 919 740.00 | 0.16 |
| USD	SOCIETE GENERALE SA-REG-S-SUB 9.375%/VAR 22-PRP | 2 100 000.00 | 2 155 125.00 | 0.18 |
| USD	STANDARD CHARTERED PLC-REG-S 3.885%/VAR 18-15.03.24 | 400 000.00 | 397 085.49 | 0.03 |
| USD	VODAFONE GROUP PLC-SUB 3.250%/VAR 21-04.06.81 | 960 000.00 | 796 608.00 | 0.07 |
| USD	WESTPAC BANKING CORP-SUB 4.110%/VAR 19-24.07.34 | 450 000.00 | 381 602.21 | 0.03 |
| Total USD |  | 11 363 729.84 | 0.96 |
| Total Notes, floating rate |  | 32 741 100.58 | 2.78 |
| Medium term notes, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	AEROPORTI DI ROMA SPA-REG-S 1.75000% 21-30.07.31 | 1 090 000.00 | 861 278.44 | 0.07 |
| EUR	AROUNDTOWN SA-REG-S 2.00000% 18-02.11.26 | 100 000.00 | 84 542.30 | 0.01 |
| EUR	BANCO DE SABADELL SA-REG-S-SUB 2.50000% 21-15.04.31 | 2 500 000.00 | 2 210 658.55 | 0.19 |
| EUR	CANAL DE ISABEL II GESTION SA-REG-S 1.68000% 15-26.02.25 | 200 000.00 | 197 190.74 | 0.02 |
| EUR	CEZ AS-REG-S 2.37500% 22-06.04.27 | 805 000.00 | 759 939.57 | 0.06 |
| EUR	CPI PROPERTY GROUP SA-REG-S 2.75000% 20-12.05.26 | 930 000.00 | 769 334.51 | 0.07 |
| EUR	CTP NV-REG-S 0.87500% 22-20.01.26 | 3 885 000.00 | 3 278 211.92 | 0.28 |
| EUR	DANSKE BANK AS-REG-S-SUB 1.50000% 20-02.09.30 | 285 000.00 | 263 941.48 | 0.02 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 2.87500% 21-16.05.27 | 1 100 000.00 | 993 665.79 | 0.08 |
| EUR	DNB BANK ASA-REG-S 0.05000% 19-14.11.23 | 1 200 000.00 | 1 203 640.26 | 0.10 |
| EUR	ELECTRICITE DE FRANCE-REG-S 2.00000% 19-09.12.49 | 300 000.00 | 203 681.03 | 0.02 |
| EUR	ELENIA VERKKO OYJ-REG-S 0.37500% 20-06.02.27 | 445 000.00 | 392 685.09 | 0.03 |
| EUR	ENBW INTERNATIONAL FINANCE BV-REG-S 4.04900% 22-22.11.29 | 1 045 000.00 | 1 097 123.03 | 0.09 |
| EUR	FERROVIE DELLO STATO ITALIANE SPA-REG-S 3.75000% 22-14.04.27 | 3 220 000.00 | 3 244 654.50 | 0.28 |
| EUR	GLOBALWORTH REAL ESTATE INVEST-REG-S 3.00000% 18-29.03.25 | 200 000.00 | 180 484.77 | 0.02 |
| EUR	KBC GROUP NV-REG-S 1.12500% 19-25.01.24 | 200 000.00 | 201 605.47 | 0.02 |
| EUR	NASSA TOPCO AS-REG-S 2.87500% 17-06.04.24 | 1 400 000.00 | 1 364 634.27 | 0.12 |
| EUR	NEW YORK LIFE GLOBAL FUNDING-REG-S 0.25000% 20-23.01.27 | 1 265 000.00 | 1 148 972.90 | 0.10 |
| EUR	ORANO SA-REG-S 5.37500% 22-15.05.27 | 2 300 000.00 | 2 449 187.27 | 0.21 |
| EUR	P3 GROUP SARL-REG-S 0.87500% 22-26.01.26 | 2 240 000.00 | 1 904 184.84 | 0.16 |
| EUR	PPF ARENA 1 BV-REG-S 2.12500% 19-31.01.25 | 4 750 000.00 | 4 589 004.36 | 0.39 |
| EUR	REDEXIS GAS FINANCE BV-REG-S 1.87500% 15-27.04.27 | 400 000.00 | 372 413.69 | 0.03 |
| EUR	REN FINANCE B V-REG-S 2.50000% 15-12.02.25 | 600 000.00 | 603 738.99 | 0.05 |
| EUR	ROMANIA-REG-S 4.62500% 19-03.04.49 | 4 000 000.00 | 3 091 009.30 | 0.26 |
| EUR	RWE AG-REG-S 2.75000% 22-24.05.30 | 2 400 000.00 | 2 317 686.15 | 0.20 |
| EUR	SELP FINANCE SARL-REG-S 3.75000% 22-10.08.27 | 1 250 000.00 | 1 216 294.66 | 0.10 |
| EUR	TDC NET A/S-REG-S 5.05600% 22-31.05.28 | 1 130 000.00 | 1 138 489.14 | 0.10 |
| EUR	UNICAJA BANCO SA-REG-S 4.50000% 22-30.06.25 | 1 400 000.00 | 1 434 267.86 | 0.12 |
| EUR	VONOVIA SE-REG-S 1.62500% 21-01.09.51 | 900 000.00 | 516 726.97 | 0.04 |
| EUR	VONOVIA SE-REG-S 5.00000% 22-23.11.30 | 900 000.00 | 944 825.78 | 0.08 |
| EUR	WESTERN POWER DISTRIBUTION EAST-REG-S 3.94900% 22-20.09.32 | 795 000.00 | 834 237.58 | 0.07 |
| Total EUR |  | 39 868 311.21 | 3.39 |
| GBP |  |  |  |
| GBP	CHINA DEVELOPMENT BANK-REG-S 1.25000% 20-21.01.23 | 880 000.00 | 1 043 931.03 | 0.09 |
| GBP	CPI PROPERTY GROUP SA-REG-S 2.75000% 20-22.01.28 | 160 000.00 | 131 987.45 | 0.01 |
| GBP	FORD MOTOR CREDIT CO LLC 2.74800% 20-14.06.24 | 1 550 000.00 | 1 742 063.41 | 0.15 |
| GBP	LLOYDS BANKING GROUP PLC 2.25000% 17-16.10.24 | 100 000.00 | 112 654.13 | 0.01 |
| Total GBP |  | 3 030 636.02 | 0.26 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Semi-Annual Report as of 30 November 2022
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  |  | Nominal | Unrealized gain | of net |
|  |  |  | (loss) on Futures/ | assets |
|  |  |  | Forward |  |
|  |  |  | Exchange Contracts/ |  |
|  |  |  | Swaps (Note 1) |  |
| USD |  |  |  |  |
| USD | EGYPT, REPUBLIC OF-REG-S 8.70020% 19-01.03.49 | 2 000 000.00 | 1 335 000.00 | 0.11 |
| USD | GC TREASURY CENTER CO LTD-REG-S 4.40000% 22-30.03.32 | 1 840 000.00 | 1 628 436.80 | 0.14 |
| USD | KAZAKHSTAN, REPUBLIC OF-REG-S 5.12500% 15-21.07.25 | 2 000 000.00 | 2 067 250.00 | 0.18 |
| USD | MEXICO, UNITED STATES OF 4.75000% 12-08.03.44 | 1 800 000.00 | 1 517 962.50 | 0.13 |
| USD | MIRVAC GROUP FINANCE LTD-REG-S 3.62500% 17-18.03.27 | 200 000.00 | 184 312.97 | 0.02 |
| USD | MONGOLIA,GOVERNMENT OF-REG-S 8.75000% 17-09.03.24 | 2 190 000.00 | 2 048 745.00 | 0.17 |
| USD | PHOENIX GROUP HOLDINGS PLC-REG-S-SUB 5.37500% 17-06.07.27 | 600 000.00 | 546 436.80 | 0.05 |
| USD | ROMANIA-REG-S 6.12500% 14-22.01.44 | 700 000.00 | 637 131.26 | 0.05 |
| USD | SAUDI ARABIAN OIL CO-REG-S 3.50000% 19-16.04.29 | 935 000.00 | 864 875.00 | 0.07 |
| Total USD |  |  | 10 830 150.33 | 0.92 |
| Total Medium term notes, fixed rate |  | 53 729 097.56 | 4.57 |
| Medium term notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	AXA SA-REG-S-SUB 3.250%/VAR 18-28.05.49 | 120 000.00 | 112 115.04 | 0.01 |
| EUR	BANCO BPM SPA-REG-S 6.000%/VAR 22-21.01.28 | 3 375 000.00 | 3 520 939.65 | 0.30 |
| EUR	BANCO DE SABADELL SA-REG-S 2.625%/VAR 22-24.03.26 | 600 000.00 | 581 045.09 | 0.05 |
| EUR	BARCLAYS PLC-REG-S 3.375%/VAR 20-02.04.25 | 540 000.00 | 550 172.89 | 0.05 |
| EUR	CREDIT SUISSE GROUP AG-REG-S 0.650%/VAR 20-14.01.28 | 900 000.00 | 691 939.01 | 0.06 |
| EUR	DEUTSCHE BANK AG-REG-S 1.000%/VAR 20-19.11.25 | 1 300 000.00 | 1 245 248.42 | 0.10 |
| EUR	DEUTSCHE BANK AG-REG-S 1.750%/VAR 20-19.11.30 | 600 000.00 | 490 059.44 | 0.04 |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S-SUB 2.625%/VAR 18-PRP | 100 000.00 | 99 991.57 | 0.01 |
| EUR	TOTAL SE-REG-S-SUB 2.625%/VAR 15-PRP | 4 260 000.00 | 4 150 299.26 | 0.35 |
| Total EUR |  | 11 441 810.37 | 0.97 |
| GBP |  |  |  |
| GBP	ELECTRICITE DE FRANCE SA-REG-S-SUB 6.000%/VAR 13-PRP | 100 000.00 | 105 692.38 | 0.01 |
| Total GBP |  | 105 692.38 | 0.01 |
| USD |  |  |  |
| USD	HSBC BANK PLC-SUB 6M LIBOR+25BP 85-PRP | 1 000 000.00 | 675 000.00 | 0.06 |
| Total USD |  | 675 000.00 | 0.06 |
| Total Medium term notes, floating rate |  | 12 222 502.75 | 1.04 |
| Bonds, fixed rate |  |  |  |
| CAD |  |  |  |
| CAD	CANADA, GOVERNMENT 2.25000% 18-01.06.29 | 3 000 000.00 | 2 119 030.76 | 0.18 |
| Total CAD |  | 2 119 030.76 | 0.18 |
| CNY |  |  |  |
| CNY	CHINA DEVELOPMENT BANK CORP 3.80000% 16-25.01.36 | 80 000 000.00 | 11 840 406.33 | 1.01 |
| Total CNY |  | 11 840 406.33 | 1.01 |
| EUR |  |  |  |
| EUR	ABBOTT IRELAND FINCING DAC-REG-S 0.87500% 18-27.09.23 | 165 000.00 | 167 469.58 | 0.01 |
| EUR	ADLER REAL ESTATE AG-REG-S 1.87500% 18-27.04.23 | 800 000.00 | 766 471.46 | 0.07 |
| EUR	ADO PROPERTIES SA-REG-S 1.50000% 17-26.07.24 | 1 500 000.00 | 1 066 181.98 | 0.09 |
| EUR	ALSTRIA OFFICE REIT-AG-REG-S 1.50000% 20-23.06.26 | 600 000.00 | 489 677.65 | 0.04 |
| EUR	AUTOSTRADE PER L’ITALIA SPA REG-S 2.00000% 21-15.01.30 | 5 480 000.00 | 4 614 553.08 | 0.39 |
| EUR	FINNAIR OYJ-REG-S 4.25000% 21-19.05.25 | 1 550 000.00 | 1 200 958.02 | 0.10 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 1.00000% 17-25.05.27 | 6 500 000.00 | 6 357 258.85 | 0.54 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.50000% 19-25.05.29 | 4 500 000.00 | 4 152 540.35 | 0.35 |
| EUR	GERMANY, REPUBLIC OF-REG-S 0.25000% 18-15.08.28 | 1 700 000.00 | 1 595 060.06 | 0.14 |
| EUR	GREECE, HELLENIC REPUBLIC OF-144A-REG-S 1.87500% 19-23.07.26 | 3 235 000.00 | 3 176 712.90 | 0.27 |
| EUR	ITALY, REPUBLIC OF-BTP-144A-REG-S 3.250% 14-01.09.46 | 9 350 000.00 | 8 720 150.12 | 0.74 |
| EUR	ITALY, REPUBLIC OF-BTP 1.60000% 16-01.06.26 | 7 200 000.00 | 7 055 142.03 | 0.60 |
| EUR	ITALY, REPUBLIC OF-BTP-144A-REG-S 2.80000% 16-01.03.67 | 1 800 000.00 | 1 430 097.36 | 0.12 |
| EUR	ITALY, REPUBLIC OF-BTP-REG-S 0.95000% 20-01.08.30 | 13 280 000.00 | 11 254 383.42 | 0.96 |
| EUR	MAPFRE SA-REG-S-SUB 2.87500% 22-13.04.30 | 1 300 000.00 | 1 128 239.62 | 0.10 |
| EUR	MPT OPERATING PARTNERSHIP LP/FIN CORP 3.32500% 17-24.03.25 | 800 000.00 | 736 982.28 | 0.06 |
| EUR	SLOVENIA, REPUBLIC OF-REG-S 1.50000% 15-25.03.35 | 6 000 000.00 | 5 027 760.36 | 0.43 |
| EUR	SLOVENIA, REPUBLIC OF-REG-S 3.12500% 15-07.08.45 | 7 000 000.00 | 6 858 632.51 | 0.58 |
| EUR	SLOVENIA, REPUBLIC OF-REG-S 0.48750% 20-20.10.50 | 8 433 000.00 | 4 328 841.99 | 0.37 |
| EUR	SPAIN, KINGDOM OF-144A-REG-S 2.15000%15-31.10.25 | 17 120 000.00 | 17 546 521.00 | 1.49 |
| EUR	SPAIN, KINGDOM OF-144A-REG-S 1.40000% 18-30.07.28 | 8 330 000.00 | 8 044 405.22 | 0.68 |
| EUR	SPAIN, KINGDOM OF-144A-REG-S 1.90000% 22-31.10.52 | 10 400 000.00 | 7 868 395.84 | 0.67 |
| EUR	SUMMER BIDCO BV-REG-S (PIK) 9.00000% 19-15.11.25 | 1 250 000.00 | 1 135 734.96 | 0.10 |
| EUR	TAURON POLSKA ENERGIA SA-REG-S 2.37500% 17-05.07.27 | 1 000 000.00 | 834 209.56 | 0.07 |
| EUR	UMG GROUPE VYV 1.62500% 19-02.07.29 | 1 100 000.00 | 967 004.03 | 0.08 |
| EUR	UNITED GROUP BV-REG-S 3.12500% 20-15.02.26 | 2 160 000.00 | 1 844 146.15 | 0.16 |
| EUR	VOLKSWAGEN INTERNATIONAL FIN NV-REG-S 1.12500% 17-02.10.23 | 200 000.00 | 202 639.65 | 0.02 |
| Total EUR |  | 108 570 170.03 | 9.23 |
| GBP |  |  |  |
| GBP	BELLIS ACQUISITION CO PLC-REG-S 3.25000% 21-16.02.26 | 1 475 000.00 | 1 428 104.53 | 0.12 |
| GBP	BERKELEY GROUP PLC/THE-REG-S 2.50000% 21-11.08.31 | 835 000.00 | 663 021.18 | 0.06 |
| GBP	BUPA FINANCE PLC-REG-S-SUB 5.00000% 13-25.04.23 | 16 000.00 | 19 022.96 | 0.00 |
| GBP	DIGNITY FINANCE PLC-REG-S 4.69560% 14-31.12.49 | 151 000.00 | 125 610.72 | 0.01 |
| GBP	JERROLD FINCO PLC-REG-S 5.25000% 21-15.01.27 | 2 315 000.00 | 2 308 931.80 | 0.20 |
| GBP	ROTHESAY LIFE PLC-REG-S-SUB 3.37500% 19-12.07.26 | 845 000.00 | 905 679.45 | 0.08 |
| GBP	SCOTTISH WIDOWS PLC-REG-S-SUB 5.50000% 13-16.06.23 | 200 000.00 | 238 180.00 | 0.02 |
| GBP	UNITED KINGDOM OF GREAT BRITAIN-REG-S 1.50000% 16-22.07.47 | 3 000 000.00 | 2 396 888.70 | 0.20 |
| GBP	UNITED KINGDOM OF GRT BRI & N IRL-REG-S 1.00000% 18-22.04.24 | 25 000 000.00 | 28 865 570.12 | 2.45 |
| GBP	UNITED KINGDOM OF GREAT BRITAIN-REG-S 0.87500% 19-22.10.29 | 7 500 000.00 | 7 661 208.56 | 0.65 |
| GBP	UNITED KINGDOM OF GREAT BRITAIN-REG-S 0.12500% 20-31.01.24 | 22 500 000.00 | 25 817 759.29 | 2.20 |
| Total GBP |  | 70 429 977.31 | 5.99 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Semi-Annual Report as of 30 November 2022
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  |  | Nominal | Unrealized gain | of net |
|  |  |  | (loss) on Futures/ | assets |
|  |  |  | Forward |  |
|  |  |  | Exchange Contracts/ |  |
|  |  |  | Swaps (Note 1) |  |
| MXN |  |  |  |  |
| MXN | MEXICO, UNITED MEXICAN STATES 7.75000% 11-13.11.42 | 8 291 700.00 | 36 932 700.26 | 3.14 |
| Total MXN |  | 36 932 700.26 | 3.14 |
| NZD |  |  |  |  |
| NZD | NEW ZEALAND 1.50000% 19-15.05.31 | 34 000 000.00 | 17 179 427.25 | 1.46 |
| NZD | NEW ZEALAND 1.75000% 20-15.05.41 | 5 000 000.00 | 2 094 256.03 | 0.18 |
| NZD | NEW ZEALAND 4.50000% 14-15.04.27 | 200 000.00 | 125 034.89 | 0.01 |
| NZD | NEW ZEALAND-REG-S 2.75000% 16-15.04.25 | 200 000.00 | 119 063.62 | 0.01 |
| NZD | NEW ZEALAND-REG-S 2.75000% 16-15.04.37 | 46 800 000.00 | 24 496 909.44 | 2.08 |
| NZD | NEW ZEALAND-REG-S 5.50000% 11-15.04.23 | 200 000.00 | 124 638.62 | 0.01 |
| Total NZD |  |  | 44 139 329.85 | 3.75 |
| USD |  |  |  |  |
| USD | CITIGROUP INC 3.87500% 13-25.10.23 | 600 000.00 | 595 438.11 | 0.05 |
| USD | COLOMBIA, REPUBLIC OF 6.12500% 09-18.01.41 | 1 900 000.00 | 1 491 500.00 | 0.13 |
| USD | COUNTRY GARDEN HOLDINGS CO LTD-REG-S 2.70000% 21-12.07.26 | 920 000.00 | 409 400.00 | 0.03 |
| USD | KAZAKHSTAN, REPUBLIC OF-REG-S 4.87500% 14-14-10.44 | 1 200 000.00 | 1 066 200.00 | 0.09 |
| USD | MEXICO CITY AIRPORT TRUST-REG-S 5.50000% 17-31.07.47 | 650 000.00 | 477 750.00 | 0.04 |
| USD | PACIFIC GAS & ELECTRIC CO 2.10000% 20-01.08.27 | 535 000.00 | 455 224.80 | 0.04 |
| USD | PACIFIC GAS & ELECTRIC CO 2.50000% 20-01.02.31 | 415 000.00 | 325 453.72 | 0.03 |
| USD | PERU, REPUBLIC OF 2.78300% 20-23.01.31 | 3 320 000.00 | 2 805 400.00 | 0.24 |
| USD | PETROLEOS DE VENEZUE-REG-S *DEFAULTED* 6.00000% 14-16.05.24 | 600 000.00 | 25 500.00 | 0.00 |
| USD | PHILLIPS 66 4.65000% 14-15.11.34 | 250 000.00 | 236 768.89 | 0.02 |
| USD | REYNOLDS AMERICAN INC 4.45000% 15-12.06.25 | 150 000.00 | 147 300.29 | 0.01 |
| USD | SOUTHERN CALIFORNIA EDISON CO 2.85000% 19-01.08.29 | 500 000.00 | 437 299.88 | 0.04 |
| USD | SUNAC CHINA HOLDINGS-REG-S *DEFAULTED* 6.50000% 20-10.01.25 | 910 000.00 | 98 962.50 | 0.01 |
| USD | TURKEY, REPUBLIC OF 6.62500% 14-17.02.45 | 700 000.00 | 532 000.00 | 0.05 |
| Total USD |  |  | 9 104 198.19 | 0.78 |
| Total Bonds, fixed rate |  | 283 135 812.73 | 24.08 |
| Bonds, zero coupon |  |  |  |
| EUR |  |  |  |
| EUR	GERMANY, REPUBLIC OF-REG-S 0.00000% 21-15.08.50 | 4 167 000.00 | 2 660 708.31 | 0.23 |
| Total EUR |  | 2 660 708.31 | 0.23 |
| Total Bonds, zero coupon |  | 2 660 708.31 | 0.23 |
| Bonds, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	ABANCA CORP BANCARIA SA-REG-S-SUB 6.125%/VAR 19-18.01.29 | 1 700 000.00 | 1 727 737.25 | 0.15 |
| EUR	AG INSURANCE SA/NV-REG-S-SUB 3.500%/VAR 15-30.06.47 | 300 000.00 | 280 198.66 | 0.02 |
| EUR	BANCO DE CREDITO SOCIAL-REG-S 8.000%/VAR 22-22.09.26 | 2 800 000.00 | 2 916 612.94 | 0.25 |
| EUR	BP CAPITAL MARKETS PLC-REG-S 3.250%/VAR 20-PRP | 490 000.00 | 464 166.22 | 0.04 |
| EUR	BP CAPITAL MARKETS PLC-REG-S-SUB 3.625%/VAR 20-PRP | 390 000.00 | 345 003.28 | 0.03 |
| EUR	ELM BV-REG-S-SUB 2.600%/VAR 15-PRP | 290 000.00 | 276 902.34 | 0.02 |
| EUR	HOLCIM FINANCE LUXEMBOURG SA-REG-S-SUB 3.000%/VAR 19-PRP | 200 000.00 | 197 698.84 | 0.02 |
| EUR	RABOBANK NEDERLAND NV-REG-S-SUB 3.250%/VAR 19-PRP | 1 000 000.00 | 888 073.13 | 0.08 |
| EUR	SES SA-REG-S-SUB 2.875%/VAR 21-PRP | 3 585 000.00 | 2 949 714.04 | 0.25 |
| EUR	UNIBAIL-RODAMCO SE-REG-S-SUB 2.125%/VAR 18-PRP | 200 000.00 | 177 120.39 | 0.01 |
| Total EUR |  | 10 223 227.09 | 0.87 |
| GBP |  |  |  |
| GBP	BARCLAYS PLC-REG-S-SUB 7.250%/VAR 17-PRP | 200 000.00 | 236 691.38 | 0.02 |
| GBP	M&G PLC-REG-S-SUB 5.625%/VAR 18-20.10.51 | 950 000.00 | 1 040 020.71 | 0.09 |
| GBP	SANTANDER UK GROUP HOLD PLC-REG-S-SUB 6.750%/VAR 17-PRP | 200 000.00 | 231 369.95 | 0.02 |
| Total GBP |  | 1 508 082.04 | 0.13 |
| NZD |  |  |  |
| NZD	NEW ZEALAND-REG-S 2.500%/CPI LINKED 14-20.09.35 | 4 000 000.00 | 3 041 402.48 | 0.26 |
| Total NZD |  | 3 041 402.48 | 0.26 |
| USD |  |  |  |
| USD	CREDIT SUISSE GROUP AG-REG-S-SUB 7.500%/VAR 18-PRP | 2 880 000.00 | 2 231 424.00 | 0.19 |
| USD	QBE INSURANCE GROUP LTD-REG-S-SUB 6.750%/VAR 14-02.12.44 | 380 000.00 | 362 482.00 | 0.03 |
| USD	SCOR SE-REG-S-SUB 5.250%/VAR 18-PRP | 400 000.00 | 297 977.60 | 0.03 |
| USD	WESTPAC BANKING CORP-SUB 5.000%/VAR 17-PRP | 200 000.00 | 167 184.80 | 0.01 |
| Total USD |  | 3 059 068.40 | 0.26 |
| Total Bonds, floating rate |  | 17 831 780.01 | 1.52 |
| Treasury notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 3.12500% 14-15.08.44 | 9 700 000.00 | 8 383 300.76 | 0.71 |
| USD	AMERICA, UNITED STATES OF 3.00000% 17-15.05.47 | 12 000 000.00 | 10 087 968.72 | 0.86 |
| USD	AMERICA, UNITED STATES OF 2.87500% 19-15.05.49 | 26 000 000.00 | 21 546 484.44 | 1.83 |
| USD	AMERICA, UNITED STATES OF 2.87500% 18-30.04.25 | 15 000 000.00 | 14 534 179.65 | 1.24 |
| USD	AMERICA, UNITED STATES OF 2.00000% 13-15.02.23 | 30 000 000.00 | 29 855 237.10 | 2.54 |
| USD	AMERICA, UNITED STATES OF 1.62500% 19-30.11.26 | 40 000 000.00 | 36 592 187.60 | 3.11 |
| USD	AMERICA, UNITED STATES OF 0.62500% 20-15.05.30 | 17 000 000.00 | 13 663 750.00 | 1.16 |
| USD	AMERICA, UNITED STATES OF 0.50000% 20-30.06.27 | 39 500 000.00 | 33 953 027.25 | 2.89 |
| USD	AMERICA, UNITED STATES OF 0.62500% 20-15.08.30 | 12 425 000.00 | 9 925 439.39 | 0.84 |
| USD	AMERICA, UNITED STATES OF 0.50000% 20-31.08.27 | 20 000 000.00 | 17 104 687.59 | 1.45 |
| USD	AMERICA, UNITED STATES OF 0.12500% 21-30.04.23 | 25 000 000.00 | 24 534 179.75 | 2.09 |
| USD	AMERICA, UNITED STATES OF 1.37500% 21-31.10.28 | 40 000 000.00 | 34 868 750.00 | 2.97 |
| USD	AMERICA, UNITED STATES OF TB 1.75000% 22-15.03.25 | 10 500 000.00 | 9 932 753.88 | 0.85 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 22-15.04.27 | 76 350 000.00 | 75 627 632.45 | 6.43 |
| USD	AMERICA, UNITED STATES OF 2.75000% 22-15.08.32 | 5 375 000.00 | 4 978 593.75 | 0.42 |
| Total USD |  | 345 588 172.33 | 29.39 |
| Total Treasury notes, fixed rate |  | 345 588 172.33 | 29.39 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Semi-Annual Report as of 30 November 2022
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Treasury notes, floating rate |  |  |  |
| BRL |  |  |  |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF 6.000%/IPCA LINKD 10-15.08.50 | 1 050.00 | 788 015.07 | 0.06 |
| Total BRL |  | 788 015.07 | 0.06 |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 0.750%/CPI LINKED 15-15.02.45 | 59 900 000.00 | 63 120 942.93 | 5.37 |
| Total USD |  | 63 120 942.93 | 5.37 |
| Total Treasury notes, floating rate |  | 63 908 958.00 | 5.43 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 903 791 768.83 | 76.86 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Asset Backed Securities, fixed rate |  |  |  |
| USD |  |  |  |
| USD	DRIVE AUTO RECEIVABLES TRUST 4.30000% 18-15.04.26 | 1 000 000.00 | 528 439.03 | 0.05 |
| USD	DT AUTO OWNER TRUST-144A 4.19000% 18-15.07.24 | 1 000 000.00 | 26 694.23 | 0.00 |
| Total USD |  | 555 133.26 | 0.05 |
| Total Asset Backed Securities, fixed rate |  | 555 133.26 | 0.05 |
| Asset Backed Securities, floating rate |  |  |  |
| USD |  |  |  |
| USD	SOFI PROFESSIONA LOAN PROGRAM LLC-144A VAR 17-26.03.40 | 850 000.00 | 751 355.12 | 0.06 |
| Total USD |  | 751 355.12 | 0.06 |
| Total Asset Backed Securities, floating rate |  | 751 355.12 | 0.06 |
| Mortgage Backed Securities, fixed rate |  |  |  |
| USD |  |  |  |
| USD	BANK 2018-BNK14-SUB 4.23100% 18-01.09.60 | 900 000.00 | 855 135.63 | 0.07 |
| USD	BANK BNK-SUB 4.40700% 18-01.11.61 | 1 850 000.00 | 1 777 536.98 | 0.15 |
| USD	BENCHMARK MORTGAGE TRUST 3.94360% 18-01.07.51 | 1 350 000.00 | 1 267 593.30 | 0.11 |
| USD	BENCHMARK MORTGAGE TRUST 4.44100% 18-01.10.51 | 1 500 000.00 | 1 396 908.45 | 0.12 |
| USD	BENCHMARK MORTGAGE TRUST-SUB 4.51000% 18-01.05.53 | 2 000 000.00 | 1 931 717.40 | 0.16 |
| USD	BENCHMARK MORTGAGE TRUST-SUB 3.97900% 19-01.03.62 | 1 350 000.00 | 1 215 762.75 | 0.10 |
| USD	BWAY 2013-1515 MORTGAGE TRUST-144A 3.44620% 21-10.03.33 | 1 300 000.00 | 1 160 302.65 | 0.10 |
| USD	CITIGROUP COMMERCIAL MORTGAGE TRUST 3.96300% 18-01.06.51 | 1 000 000.00 | 656 722.20 | 0.06 |
| USD	CITIGROUP COMMERCIAL MORTGAGE TRUST 4.22800% 18-01.06.51 | 2 775 000.00 | 2 632 648.61 | 0.22 |
| USD	CITIGROUP COMMERCIAL MORTGAGE 3.36600% 16-01.11.49 | 1 500 000.00 | 1 347 201.45 | 0.11 |
| USD	COMM 2015-CCRE22 MORTGAGE TRUST 3.92600% 15-01.03.48 | 2 000 000.00 | 1 860 289.00 | 0.16 |
| USD	COMM MORTGAGE TRUST-SUB 4.22800% 18-01.05.51 | 2 500 000.00 | 2 364 437.50 | 0.20 |
| USD	CSAIL COMMERCIAL MORTGAGE TRUST-SUB 4.42160% 18-01.11.51 | 1 490 000.00 | 1 406 127.30 | 0.12 |
| USD	HUDSON YARDS 2016-10HY MORTGAGE-144A 2.83500% 16-01.08.38 | 2 950 000.00 | 2 635 455.66 | 0.22 |
| USD	JPMDB COMMERCIAL MORTGAGE TRT 4.42100% 18-01.06.51 | 1 150 000.00 | 1 056 631.96 | 0.09 |
| USD	MORGAN STANLEY BOA MERR LYH TRT 15-C24 3.73200% 15-01.05.48 | 800 000.00 | 760 695.84 | 0.07 |
| USD	MORGAN STANLEY CAPITAL INC-SUB 3.33000% 17-01.12.50 | 450 000.00 | 413 667.45 | 0.04 |
| USD	MORGAN STANLEY CAPITAL I TRUST-SUB 4.31000% 18-01.12.51 | 1 355 000.00 | 1 283 604.38 | 0.11 |
| USD	MSBAM LYNCH TRUST-SUB 3.99400% 16-01.12.49 | 600 000.00 | 553 158.06 | 0.05 |
| USD	WELLS FARGO COMMERCIAL MORTGAGE TRUST 4.21200% 18-01.05.51 | 1 400 000.00 | 1 328 975.48 | 0.11 |
| Total USD |  | 27 904 572.05 | 2.37 |
| Total Mortgage Backed Securities, fixed rate |  | 27 904 572.05 | 2.37 |
| Mortgage Backed Securities, floating rate |  |  |  |
| USD |  |  |  |
| USD	AVENTURA MALL TRUST-144A FLR 18-01.07.40 | 2 060 000.00 | 1 853 509.72 | 0.16 |
| USD	BAMLL COMMERCIAL MORT SET-144A 1M LIBOR+135BP 18-15.09.34 | 1 575 000.00 | 1 495 670.56 | 0.13 |
| USD	BAMLL COMMERCIAL MORTGAGE-144A VAR 15-01.04.33 | 2 650 000.00 | 2 337 389.57 | 0.20 |
| USD	BANK 2017-BNK9 VAR 17-01.11.54 | 1 500 000.00 | 1 355 158.20 | 0.12 |
| USD	BANK-SUB FLR 18-01.02.61 | 895 000.00 | 756 012.49 | 0.05 |
| USD	BBCMS TRUST CBM-144A 1M LIBOR+119.1098BP 18-15.07.37 | 1 650 000.00 | 1 565 104.37 | 0.13 |
| USD	BENCHMARK MORTGAGE TRUST-SUB FLR 18-01.10.51 | 1 950 000.00 | 1 663 585.17 | 0.14 |
| USD	BENCHMARK MORTGAGE TRUST FLR 18-01.01.52 | 2 000 000.00 | 1 852 846.80 | 0.16 |
| USD	BX TRUST-144A 1M LIBOR+80BP 18-15.05.35 | 1 300 000.00 | 1 259 139.31 | 0.11 |
| USD	BX TRUST-144A 1M LIBOR+122BP 18-15.05.35 | 2 000 000.00 | 1 909 509.20 | 0.16 |
| USD	CAMB COMM MORTGAGE TRUST-144A-SUB 1M LIBOR+145BP 19-15.12.37 | 500 000.00 | 481 192.55 | 0.04 |
| USD	CAMB COMM MORTGAGE TRUST-144A-SUB 1M LIBOR+175BP 19-15.12.37 | 1 620 000.00 | 1 555 005.76 | 0.13 |
| USD	CD MORTGAGE TRUST FLR 17-01.11.50 | 2 220 000.00 | 2 004 146.51 | 0.17 |
| USD	CSAIL 2015-C4 COMMERCIAL MORTGAGE TRUST-SUB VAR 15-01.11.48 | 500 000.00 | 448 791.65 | 0.04 |
| USD	GS MORTGAGE SECURITIES CORP II 4.155%/VAR 18-01.07.51 | 330 000.00 | 311 736.11 | 0.03 |
| USD	GS MORTGAGE SECURITIES TRUST-144A VAR 17-01.01.43 | 1 950 000.00 | 1 724 703.05 | 0.15 |
| USD	JP MORGAN CHASE MORTGAGE SECURITIES-144A-SUB FLR 18-01.01.31 | 2 045 000.00 | 2 028 257.17 | 0.17 |
| USD	JP MORGAN CHASE MORTGAGE SECURITIES-144A-SUB FLR 18-01.01.31 | 2 000 000.00 | 1 977 324.80 | 0.17 |
| USD	JPMCC COMMERCIAL MORTGAGE SEC TRUST VAR 17-01.09.50 | 3 200 000.00 | 2 644 785.92 | 0.21 |
| USD	MAD MORTGAGE TRUST-144A 2.975%/VAR 17-01.08.34 | 1 500 000.00 | 1 396 153.05 | 0.12 |
| USD	MAD MORTGAGE TRUST-144A 3.478%/VAR 17-01.08.34 | 1 500 000.00 | 1 378 130.10 | 0.12 |
| USD	MAD MORTGAGE TRUST-144A 3.599%/VAR 17-01.08.34 | 1 000 000.00 | 897 546.50 | 0.08 |
| USD	WELLS FARGO COMMERCIAL MORTGAGE FLR 17-01.12.50 | 1 400 000.00 | 1 252 490.26 | 0.11 |
| Total USD |  | 34 148 188.82 | 2.90 |
| Total Mortgage Backed Securities, floating rate |  | 34 148 188.82 | 2.90 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Semi-Annual Report as of 30 November 2022
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |

Notes, fixed rate
| USD |  |
| --- | --- |
| USD | AKER BP ASA-144A 3.00000% 20-15.01.25 | 565 000.00 | 534 584.94 | 0.05 |
| USD | AKER BP ASA-144A 4.00000% 20-15.01.31 | 525 000.00 | 466 273.11 | 0.04 |
| USD | AVOLON HOLDINGS FUNDING LTD-144A 2.12500% 21-21.02.26 | 730 000.00 | 622 076.80 | 0.05 |
| USD | BRAZIL MINAS SPE-REG-S 5.33300% 13-15.02.28 | 200 000.00 | 115 560.00 | 0.01 |
| USD | CAMERON LNG LLC-144A 3.30200% 19-15.01.35 | 340 000.00 | 281 010.04 | 0.02 |
| USD | COLONIAL ENTERPRISES INC-144A 3.25000% 20-15.05.30 | 470 000.00 | 411 402.88 | 0.03 |
| USD | INFOR INC-144A 1.75000% 20-15.07.25 | 355 000.00 | 322 249.26 | 0.03 |
| USD | LUNDIN ENERGY FINANCE BV-144A 2.00000% 21-15.07.26 | 365 000.00 | 321 348.17 | 0.03 |
| USD | LUNDIN ENERGY FINANCE BV-144A 3.10000% 21-15.07.31 | 375 000.00 | 309 017.25 | 0.03 |
| USD | SOUTHWESTERN ELECTRIC POWER 6.20000% 10-15.03.40 | 150 000.00 | 153 302.35 | 0.01 |
| USD | TECK RESOURCES LTD 3.90000% 20-15.07.30 | 530 000.00 | 476 482.06 | 0.04 |
| USD | TRITON CONTAINER INTERNATIONAL LTD-144A 2.05000% 21-15.04.26 | 920 000.00 | 793 868.00 | 0.07 |
| Total USD |  |  | 4 807 174.86 | 0.41 |
| Total Notes, fixed rate |  | 4 807 174.86 | 0.41 |
| Medium term notes, fixed rate |  |  |  |
| AUD |  |  |  |
| AUD	AURIZON FINANCE PTY LTD 3.00000% 21-09.03.28 | 2 160 000.00 | 1 212 745.80 | 0.10 |
| Total AUD |  | 1 212 745.80 | 0.10 |
| Total Medium term notes, fixed rate |  | 1 212 745.80 | 0.10 |
| Medium term notes, floating rate |  |  |  |
| AUD |  |  |  |
| AUD	NATIONAL AUSTRALIA BANK-SUB 6.322%/VAR 22-03.08.32	1 760 000.00 | 1 193 134.31 | 0.10 |
| Total AUD | 1 193 134.31 | 0.10 |
| USD |  |  |  |  |
| USD | INTESA SANPAOLO SPA-144A-SUB 7.700%/VAR 15-PRP | 1 500 000.00 | 1 382 558.88 | 0.12 |
| Total USD |  |  | 1 382 558.88 | 0.12 |
| Total Medium term notes, floating rate |  | 2 575 693.19 | 0.22 |
| Bonds, fixed rate |  |  |  |
| RUB |  |  |  |
| RUB	RUSSIA, FEDERATION OF 7.65000% 19-10.04.30 | 1 900 000 000.00 | 12 791 461.45 | 1.09 |
| Total RUB |  | 12 791 461.45 | 1.09 |
| USD |  |  |  |
| USD	FIVE CORNERS FUNDING TRUST-144A 4.41900% 13-15.11.23 | 200 000.00 | 198 065.84 | 0.02 |
| Total USD |  | 198 065.84 | 0.02 |
| Total Bonds, fixed rate |  | 12 989 527.29 | 1.11 |
| Bonds, floating rate |  |  |  |
| NZD |  |  |  |
| NZD	NEW ZEALAND 2.500%/CPI LINKED 17-20.09.40 | 85 650 000.00 | 64 443 638.22 | 5.48 |
| NZD	NEW ZEALAND 3.000%/CPI LINKED 13-20.09.30 | 42 000 000.00 | 33 655 893.51 | 2.86 |
| Total NZD |  | 98 099 531.73 | 8.34 |
| USD |  |  |  |
| USD	SCENTRE GROUP TRUST 2-REG-S-SUB 4.750%/VAR 20-24.09.80 | 650 000.00 | 572 202.08 | 0.05 |
| Total USD |  | 572 202.08 | 0.05 |
| Total Bonds, floating rate |  | 98 671 733.81 | 8.39 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 183 616 124.20 | 15.61 |

Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market
Mortgage Backed Securities, fixed rate
| USD |  |
| --- | --- |
| USD | DBGS 2018-BIOD MORTGAGE TRUST-SUB 4.76400% 18-01.10.51 | 1 300 000.00 | 1 217 200.66 | 0.10 |
| Total USD |  |  | 1 217 200.66 | 0.10 |
| Total Mortgage Backed Securities, fixed rate |  | 1 217 200.66 | 0.10 |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	VISTRA OPERATIONS CO LLC-144A 5.12500% 22-13.05.25 | 1 535 000.00 | 1 495 271.66 | 0.13 |
| Total USD |  | 1 495 271.66 | 0.13 |
| Total Notes, fixed rate |  | 1 495 271.66 | 0.13 |
| Total Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market |  | 2 712 472.32 | 0.23 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Semi-Annual Report as of 30 November 2022
Recently issued transferable securities and money market instruments
Notes, fixed rate
USD
| USD | ENEL FINANCE INTERNATIONAL NV-144A 6.80000% 22-14.10.25 | 1 280 000.00 | 1 325 466.48 | 0.11 |
| --- | --- | --- | --- | --- |
| Total USD | 1 325 466.48 | 0.11 |
| Total Notes, fixed rate	1 325 466.48 | 0.11 |
| Total Recently issued transferable securities and money market instruments	1 325 466.48 | 0.11 |
| UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 |  |
| Investment funds, open end |  |
| Ireland |  |
| EUR	ISHARES EURO HIGH YIELD CORPORATE BOND UCITS ETF EUR	1 000.00	92 781.76 | 0.01 |
| Total Ireland	92 781.76 | 0.01 |
| Luxembourg |  |
| EUR	UBS (LUX) BOND FUND - EURO HIGH YIELD (EUR) I-X-ACC	500.00	68 389.35 | 0.00 |
| USD	UBS (LUX) BOND SICAV - ASIAN HIGH YIELD (USD) I-X-DIST	378 000.00	18 658 080.00 | 1.59 |
| USD	UBS (LUX) BOND SICAV - MULTI INCOME (USD)-U-X-ACC- CAP	400.00	3 871 780.00 | 0.33 |
| USD	UBS (LUX) BOND SICAV - CHINA HIGH YIELD (USD) U-X-ACC	2 400.00	10 545 144.00 | 0.90 |
| Total Luxembourg	33 143 393.35 | 2.82 |
| Total Investment funds, open end	33 236 175.11 | 2.83 |
| Total UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010	33 236 175.11 | 2.83 |
| Total investments in securities	1 124 682 006.94 | 95.64 |

| Derivative instruments |  |
| --- | --- |
| Derivative instruments listed on an official stock exchange |
| Financial Futures on bonds |
|  |  |  |  |
| EUR	EURO BTP ITALY GOVERNMENT FUTURE 08.12.22 | -322.00 | -805 371.64 | -0.07 |
| EUR	EURO-BUND FUTURE 08.12.22 | 55.00 | 44 552.96 | 0.00 |
| EUR	EURO-BOBL FUTURE 08.12.22 | -580.00 | 1 588 544.02 | 0.14 |
| EUR	EURO-SCHATZ FUTURE 08.12.22 | -734.00 | 997 607.29 | 0.08 |
| EUR	EURO-BUXL FUTURE 08.12.22 | -203.00 | 115 444.36 | 0.01 |
| GBP	LONG GILT FUTURE 29.03.23 | 30.00 | -30 725.22 | 0.00 |
| JPY	JAPAN GOVERNMENT 10Y BOND (OSE) FUTURE 13.12.22 | -156.00 | -247 384.26 | -0.02 |
| AUD	AUSTRALIA 3YR BOND FUTURE 15.12.22 | -1 540.00 | -39 326.39 | 0.00 |
| USD	US ULTRA LONG BOND (CBT) FUTURE 22.03.23 | -93.00 | 93 000.00 | 0.01 |
| USD	US 10YR ULTRA NOTE FUTURE 22.03.23 | -574.00 | -134 531.25 | -0.01 |
| USD	US 10YR TREASURY NOTE FUTURE 22.03.23 | -860.00 | -342 655.82 | -0.03 |
| USD	US 2YR TREASURY NOTE FUTURE 31.03.23 | -429.00 | -194 391.05 | -0.02 |
| USD	US 5YR TREASURY NOTE FUTURE 31.03.23 | -646.00 | -257 390.95 | -0.02 |
| USD	US LONG BOND FUTURE 22.03.23 | 560.00 | -192 500.00 | -0.02 |
| CAD	CAN 10YR BOND FUTURE 22.03.23 | -2 019.00 | 115 202.48 | 0.01 |
| Total Financial Futures on bonds | 710 074.53 | 0.06 |
| Total Derivative instruments listed on an official stock exchange | 710 074.53 | 0.06 |
| Derivative instruments not listed on an official stock exchange and not traded on another regulated market |  |  |
| Swaps and forward swaps on interest rates |  |  |
|  |  |  |
| USD	LCH/INTEREST RATE SWAP PAYER 2.29200% 20-03.02.25	-8 000 000.00 USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 20-03.02.25 | 344 362.22 | 0.03 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.56500% 15-10.11.45	-2 500 000.00 USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 15-10.11.45 | 387 350.87 | 0.03 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.60800% 15-19.11.45	-2 400 000.00 USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 15-19.11.45 | 354 375.27 | 0.03 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.12350% 16-18.04.46	-2 000 000.00 USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 16-18.04.46 | 454 376.96 | 0.04 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.39400% 17-23.03.27	-4 600 000.00 USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 17-23.03.27 | 288 502.32 | 0.02 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.34600% 17-07.04.27	-5 000 000.00 USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 17-07.04.27 | 322 479.22 | 0.03 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.57230% 17-01.08.47	-1 800 000.00 USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 17-01.08.47 | 267 690.08 | 0.02 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.24850% 17-02.08.27	-4 300 000.00 USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 17-02.08.27 | 282 035.67 | 0.02 |
| USD	LCH/INTEREST RATE SWAP PAYER 1.29910% 20-03.03.50	-5 800 000.00 USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 20-03.03.50 | 2 235 610.98 | 0.19 |
| PLN	LCH/INTEREST RATE SWAP PAYER 2.11600% 20-23.01.30	-142 000 000.00 PLN	LCH/INTEREST RATE SWAP REC 6MWIB 20-23.01.30 | 6 720 598.29 | 0.57 |
| PLN	LCH/INTEREST RATE SWAP PAYER 1.91900% 20-10.02.30	-155 000 000.00 PLN	LCH/INTEREST RATE SWAP REC 6MWIB 20-10.02.30 | 7 737 433.20 | 0.66 |
| PLN	LCH/INTEREST RATE SWAP PAYER 0.85750% 20-23.07.30	-87 000 000.00 PLN	LCH/INTEREST RATE SWAP REC 6MWIB 20-23.07.30 | 6 064 721.51 | 0.52 |
| GBP	LCH/INTEREST RATE SWAP PAYER 0.34200% 20-10.09.50	-10 000.00 GBP	LCH/INTEREST RATE SWAP REC SONIA O/N 20-10.09.50 | 5 855.68 | 0.00 |
| GBP	LCH/INTEREST RATE SWAP PAYER 0.13510% 20-16.09.30	-100 000.00 GBP	LCH/INTEREST RATE SWAP REC SONIA O/N 20-16.09.30 | 27 366.03 | 0.00 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Semi-Annual Report as of 30 November 2022
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.20750% 19-27.09.29 | -35 900 000.00 | 4 309 102.33 | 0.37 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 19-27.09.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.67500% 24-30.10.29 | -32 000 000.00 | 1 998 962.43 | 0.17 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 24-30.10.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.58300% 24-24.09.29 | -54 000 000.00 | 3 530 439.65 | 0.30 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 24-24.09.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.47300% 24-15.10.29 | -55 000 000.00 | 3 733 051.91 | 0.32 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 24-15.10.29 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP PAYER 2.80500% 21-02.04.26 | -755 000 000.00 | -712 165.63 | -0.06 |
| CNY | CITI/INTEREST RATE SWAP REC CNRR007 21-02.04.26 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAYER 1.72500% 21-17.06.31 | -84 500 000.00 | 5 373 305.01 | 0.46 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 21-17.06.31 |  |  |  |
| USD | LCH/INTEREST RATE SWAP PAYER 1.82280% 21-29.10.51 | -11 900 000.00 | 3 495 530.09 | 0.30 |
| USD | LCH/INTEREST RATE SWAP REC 3M LIBOR 21-29.10.51 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAYER 3.79250% 22-17.01.32 | -61 500 000.00 | 1 758 061.59 | 0.15 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 22-17.01.32 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAYER 3.86400% 22-19.01.32 | -61 000 000.00 | 1 669 144.64 | 0.14 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 22-19.01.32 |  |  |  |
| KRW | JPMORGAN/INTEREST RATE SWAP PAYER 2.15900% 22-25.01.32 | -42 300 000 000.00 | 3 280 374.31 | 0.28 |
| KRW | JPMORGAN/INTEREST RATE SWAP REC 3MKWCD 22-25.01.32 |  |  |  |
| USD | LCH/INTEREST RATE SWAP PAYER 3.46108% 22-08.11.52 | -1 300 000.00 | -90 897.28 | -0.01 |
| USD | LCH/INTEREST RATE SWAP REC 3ML 22-08.11.52 |  |  |  |
| INR | MORGAN STANLEY/INTEREST RATE SWAP PAYER 6.34900% 22-28.11.27 | -1 955 000 000.00 | -14 773.61 | 0.00 |
| INR | MORGAN STANLEY/INTEREST RATE SWAP REC O/N MIBOR 22-28.11.27 |  |  |  |
| NZD | BC/INTEREST RATE SWAP REC 5.14300% 14-17.02.24 | 2 100 000.00 | 16 390.74 | 0.00 |
| NZD | BC/INTEREST RATE SWAP PAYERER 3ML 14-17.02.24 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 3.02250% 19-02.04.24 | 105 000 000.00 | 158 365.45 | 0.01 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 19-02.04.24 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.94000% 19-19.09.24 | 75 000 000.00 | 120 742.13 | 0.01 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 19-19.09.24 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.96250% 19-21.10.24 | 140 000 000.00 | 214 397.69 | 0.02 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 19-21.10.24 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 3.15750% 19-30.10.24 | 111 000 000.00 | 226 282.77 | 0.02 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 19-30.10.24 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.92500% 20-16.01.25 | 114 000 000.00 | 171 786.42 | 0.01 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 20-16.01.25 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 2.23500% 20-10.06.25 | 110 000 000.00 | -97 684.01 | -0.01 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 20-10.06.25 |  |  |  |
| NZD | BARCLAYS/INTEREST RATE SWAP REC 5.20000% 13-09.12.23 | 1 200 000.00 | 12 412.04 | 0.00 |
| NZD | BARCLAYS/INTEREST RATE SWAP PAYER 3MFRA 13-09.12.23 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP REC 1.22000% 19-21.11.24 | 42 500 000.00 | -1 936 643.42 | -0.16 |
| NZD | LCH/INTEREST RATE SWAP PAYER 3MFRA 19-21.11.24 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 6.28000% 16-23.07.26 | 95 000 000.00 | -405 292.60 | -0.03 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 16-23.07.26 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 8.20500% 19-20.04.29 | 160 000 000.00 | -171 120.99 | -0.01 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 19-20.04.29 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 6.68000% 19-26.09.29 | 150 000 000.00 | -766 471.92 | -0.07 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 19-26.09.29 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 6.84250% 20-09.01.30 | 320 000 000.00 | -1 552 071.35 | -0.13 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 20-09.01.30 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 6.53600% 20-14.02.30 | 245 000 000.00 | -1 396 483.09 | -0.12 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 20-14.02.30 |  |  |  |
| CNY | HSBC/INTEREST RATE SWAP REC 2.87250% 19-16.07.24 | 90 000 000.00 | 112 001.20 | 0.01 |
| CNY | HSBC/INTEREST RATE SWAP PAYER CNRR007 19-16.07.24 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP REC 1.32000% 21-22.06.26 | 119 000 000.00 | -8 239 287.83 | -0.70 |
| NZD | LCH/INTEREST RATE SWAP PAYER 3MFRA 21-22.06.26 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 2.59600% 21-10.08.26 | 17 900 000 000.00 | -10 859 486.24 | -0.92 |
| HUF | LCH/INTEREST RATE SWAP PAYER 6ML 21-10.08.26 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 2.83500% 21-17.09.26 | 8 870 000 000.00 | -5 082 197.72 | -0.43 |
| HUF | LCH/INTEREST RATE SWAP PAYER 6ML 21-17.09.26 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 7.50000% 21-22.09.31 | 477 000 000.00 | -1 658 429.18 | -0.14 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 21-22.09.31 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 7.44000% 21-16.10.26 | 660 000 000.00 | -1 592 635.66 | -0.14 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 21-16.10.26 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 7.49250% 21-19.10.26 | 660 000 000.00 | -1 523 564.62 | -0.13 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 21-19.10.26 |  |  |  |
| CZK | CITI/INTEREST RATE SWAP REC 3.43000% 21-16.12.26 | 500 000 000.00 | -1 077 086.86 | -0.09 |
| CZK | CG/INTEREST RATE SWAP PAYER PRIBOR 6M 21-16.12.26 |  |  |  |
| ZAR | LCH/INTEREST RATE SWAP REC 7.67000% 22-06.01.32 | 223 000 000.00 | -957 193.80 | -0.08 |
| ZAR | LCH/INTEREST RATE SWAP PAYER 3MZAR 22-06.01.32 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 4.82000% 22-17.01.27 | 9 050 000 000.00 | -3 487 811.58 | -0.30 |
| HUF | LCH/INTEREST RATE SWAP PAYER 6MHUF 22-17.01.27 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 4.95100% 22-19.01.27 | 9 050 000 000.00 | -3 370 882.92 | -0.29 |
| HUF | LCH/INTEREST RATE SWAP PAYER 6MHUF 22-19.01.27 |  |  |  |
| KRW | JPMORGAN/INTEREST RATE SWAP REC 2.02000% 22-25.01.24 | 90 000 000 000.00 | -1 665 250.91 | -0.14 |
| KRW | JPMORGAN/INTEREST RATE SWAP PAYER 3MKWCD 22-25.01.24 |  |  |  |
| KRW | JPMORGAN/INTEREST RATE SWAP REC 2.02000% 22-25.01.24 | 90 000 000 000.00 | -1 665 250.91 | -0.14 |
| KRW | JPMORGAN/INTEREST RATE SWAP PAYER 3MKWCD 22-25.01.24 |  |  |  |
| KRW | JPMORGAN/INTEREST RATE SWAP REC 2.02000% 22-25.01.24 | 39 000 000 000.00 | -721 608.73 | -0.06 |
| KRW | JPMORGAN/INTEREST RATE SWAP PAYER 3MKWCD 22-25.01.24 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP REC 4.60500% 22-29.11.27 | 32 000 000.00 | 58 651.43 | 0.00 |
| NZD | LCH/INTEREST RATE SWAP PAYER 3MFRA 22-29.11.27 |  |  |  |
| Total Swaps and forward swaps on interest rates |  | 6 687 469.27 | 0.57 |
| Credit default swaps* |  |  |  |
|  |  |  |  |
| USD	BOA/MEX CREDIT DEFAULT SWAP PAY 1.00000% 19-20.06.24 | -8 750 000.00 | -77 753.57 | -0.01 |
| USD	BOA/TURKEY CREDIT DEFAULT SWAP REC 1.00000% 19-20.06.24 | 8 750 000.00 | -398 525.56 | -0.03 |
| Total Credit default swaps |  | -476 279.13 | -0.04 |
| Total Derivative instruments not listed on an official stock exchange and not traded on another regulated market |  | 6 211 190.14 | 0.53 |
| Total Derivative instruments |  | 6 921 264.67 | 0.59 |
| * Positive nominal: the subfund is “Receiver”, negative nominal: the subfund is “Payer”. |  |  |  |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Semi-Annual Report as of 30 November 2022
| Description	Quantity/ | Valuation in USD | as a % |
| --- | --- | --- |
| Nominal | Unrealized gain | of net |
|  | (loss) on Futures/ | assets |
|  | Forward |  |
|  | Exchange Contracts/ |  |
|  | Swaps (Note 1) |  |

Forward Foreign Exchange contracts
Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date
| USD | 14 060 956.29 | BRL | 75 430 000.00 | 6.12.2022 | -279 143.42 | -0.02 |
| --- | --- | --- | --- | --- | --- | --- |
| KRW | 31 865 000 000.00 | USD | 22 342 588.70 | 6.12.2022 | 1 816 018.09 | 0.15 |
| USD | 22 192 122.06 | TWD | 712 700 000.00 | 6.12.2022 | -888 163.99 | -0.07 |
| CNY | 68 400 000.00 | USD | 9 493 407.36 | 6.12.2022 | 95 657.73 | 0.01 |
| MYR | 26 255 000.00 | USD | 5 548 980.24 | 6.12.2022 | 356 327.90 | 0.03 |
| COP | 55 627 575 000.00 | USD | 11 473 151.49 | 6.12.2022 | 72 332.40 | 0.01 |
| USD | 35 083 836.98 | MXN | 697 580 000.00 | 6.12.2022 | -915 693.40 | -0.08 |
| JPY | 1 012 800 000.00 | USD | 6 881 987.44 | 6.12.2022 | 377 069.39 | 0.03 |
| AUD | 27 940 000.00 | USD | 17 961 698.39 | 6.12.2022 | 750 376.09 | 0.06 |
| SEK | 126 940 000.00 | USD | 11 560 073.54 | 6.12.2022 | 344 324.03 | 0.03 |
| PLN | 42 130 000.00 | USD | 8 845 743.63 | 6.12.2022 | 433 262.06 | 0.04 |
| CHF | 12 160 000.00 | USD | 12 243 622.72 | 6.12.2022 | 521 001.36 | 0.04 |
| USD | 86 899 135.86 | GBP | 75 490 000.00 | 6.12.2022 | -3 004 509.15 | -0.25 |
| USD | 22 143 448.07 | CZK | 549 770 000.00 | 6.12.2022 | -1 102 967.10 | -0.09 |
| USD | 146 432 166.00 | NZD | 248 865 000.00 | 6.12.2022 | -8 137 595.14 | -0.69 |
| USD | 14 688 243.14 | CAD | 19 980 000.00 | 6.12.2022 | -49 604.99 | 0.00 |
| USD | 22 871 705.28 | THB | 856 200 000.00 | 6.12.2022 | -1 409 505.23 | -0.12 |
| USD | 218 483 343.74 | EUR | 220 240 000.00 | 6.12.2022 | -8 304 567.99 | -0.71 |
| HUF | 1 439 500 000.00 | USD | 3 459 442.07 | 6.12.2022 | 154 841.17 | 0.01 |
| USD | 2 588 857.53 | CAD | 3 490 000.00 | 6.12.2022 | 14 528.70 | 0.00 |
| USD | 3 546 287.99 | HUF | 1 439 500 000.00 | 6.12.2022 | -67 995.25 | -0.01 |
| AUD | 17 428 573.29 | EUR | 11 145 000.00 | 6.12.2022 | 195 959.79 | 0.02 |
| EUR | 11 985 000.00 | CHF | 11 789 225.03 | 6.12.2022 | -34 085.66 | 0.00 |
| USD | 2 475 743.53 | MXN | 48 270 000.00 | 6.12.2022 | -15 293.10 | 0.00 |
| PLN | 11 555 000.00 | USD | 2 495 659.86 | 6.12.2022 | 49 294.11 | 0.00 |
| BRL | 32 043 925.00 | USD | 5 975 000.00 | 6.12.2022 | 116 914.09 | 0.01 |
| USD | 5 975 000.00 | MXN | 116 333 608.50 | 6.12.2022 | -28 548.37 | 0.00 |
| GBP | 5 817 405.31 | EUR | 6 584 499.50 | 6.12.2022 | 147 875.05 | 0.01 |
| GBP | 4 573 235.81 | EUR | 5 230 500.50 | 6.12.2022 | 60 412.03 | 0.01 |
| CAD | 4 014 612.59 | MXN | 59 220 000.00 | 6.12.2022 | -94 846.34 | -0.01 |
| PLN | 18 025 000.00 | HUF | 1 560 842 430.00 | 6.12.2022 | 51 023.23 | 0.00 |
| USD | 5 620 000.00 | SGD | 7 720 346.86 | 6.12.2022 | -14 032.65 | 0.00 |
| IDR | 87 256 120 000.00 | USD | 5 620 000.00 | 6.12.2022 | -71 543.05 | -0.01 |
| USD | 3 019 248.86 | HUF | 1 203 850 000.00 | 6.12.2022 | -3 366.55 | 0.00 |
| USD | 12 380 179.60 | EUR | 11 860 000.00 | 6.12.2022 | 167 572.29 | 0.01 |
| USD | 1 491 652.73 | EUR | 1 430 000.00 | 6.12.2022 | 19 137.68 | 0.00 |
| CHF | 162 497 000.00 | USD | 174 032 761.60 | 12.1.2023 | -2 513 475.59 | -0.21 |
| EUR | 383 279 800.00 | USD | 401 306 598.83 | 12.1.2023 | -5 239 989.47 | -0.45 |
| CAD | 269 600 000.00 | USD | 203 506 163.61 | 12.1.2023 | -4 491 213.85 | -0.38 |
| USD | 5 670 000.00 | SGD | 7 751 292.57 | 6.12.2022 | 13 384.28 | 0.00 |
| IDR | 88 610 760 000.00 | USD | 5 670 000.00 | 6.12.2022 | -35 403.97 | 0.00 |
| USD | 3 057 730.29 | AUD | 4 525 000.00 | 6.12.2022 | 27 231.47 | 0.00 |
| PLN | 25 000 000.00 | USD | 5 523 732.72 | 6.12.2022 | -17 557.97 | 0.00 |
| CAD | 1 450 000.00 | USD | 1 091 831.29 | 6.12.2022 | -22 267.74 | 0.00 |
| CHF | 2 534 500.00 | USD | 2 707 541.70 | 12.1.2023 | -32 319.20 | 0.00 |
| EUR | 5 329 500.00 | USD | 5 568 980.02 | 12.1.2023 | -61 679.62 | -0.01 |
| AUD | 17 480 000.00 | NZD | 18 980 483.20 | 6.12.2022 | -81 989.34 | -0.01 |
| AUD | 2 280 000.00 | NZD | 2 472 944.77 | 6.12.2022 | -8 973.55 | 0.00 |
| USD | 2 349 743.62 | CAD | 3 140 000.00 | 6.12.2022 | 33 585.31 | 0.00 |
| USD | 4 900 944.83 | EUR | 4 725 000.00 | 6.12.2022 | 35 466.79 | 0.00 |
| USD | 2 767 533.77 | EUR | 2 695 000.00 | 6.12.2022 | -7 590.74 | 0.00 |
| PLN | 9 255 000.00 | USD | 2 034 081.85 | 6.12.2022 | 4 304.04 | 0.00 |
| CZK | 297 330 452.80 | PLN | 57 230 000.00 | 6.12.2022 | -32 449.86 | 0.00 |
| CAD | 1 563 791.23 | HUF | 466 250 000.00 | 6.12.2022 | -17 163.68 | 0.00 |
| EUR | 10 965 000.00 | AUD | 16 910 508.09 | 6.12.2022 | -34 364.96 | 0.00 |
| CAD | 16 046 315.81 | GBP | 9 895 000.00 | 6.12.2022 | 51 946.18 | 0.00 |
| GBP | 1 200 000.00 | USD | 1 451 325.60 | 6.12.2022 | -22 204.21 | 0.00 |
| PLN | 9 000 000.00 | USD | 2 006 623.64 | 6.12.2022 | -24 400.73 | 0.00 |
| USD | 1 500 000.00 | CAD | 2 015 526.00 | 6.12.2022 | 13 287.48 | 0.00 |
| USD | 1 202 727.01 | EUR | 1 155 900.00 | 12.1.2023 | 8 264.39 | 0.00 |
| EUR | 11 330 000.00 | USD | 11 713 577.15 | 6.12.2022 | -46 727.17 | 0.00 |
| USD | 23 177 235.77 | TWD | 712 700 000.00 | 6.1.2023 | -131 133.44 | -0.01 |
| TWD | 712 700 000.00 | USD | 23 042 353.70 | 6.12.2022 | 37 932.35 | 0.00 |
| USD | 9 559 748.43 | CNY | 68 400 000.00 | 6.12.2022 | -29 316.66 | 0.00 |
| CNY | 68 400 000.00 | USD | 9 579 831.93 | 6.1.2023 | 119 830.66 | 0.01 |
| MYR | 26 255 000.00 | USD | 5 820 217.25 | 6.1.2023 | 99 214.88 | 0.01 |
| USD | 5 815 060.91 | MYR | 26 255 000.00 | 6.12.2022 | -90 247.23 | -0.01 |
| IDR | 175 866 900 000.00 | USD | 11 164 734.64 | 6.1.2023 | 29 995.11 | 0.00 |
| USD | 11 173 245.24 | IDR | 175 866 880 000.00 | 6.12.2022 | -9 807.73 | 0.00 |
| USD | 24 030 920.06 | KRW | 31 865 000 000.00 | 6.12.2022 | -127 686.73 | -0.01 |
| KRW | 31 865 000 000.00 | USD | 24 053 595.02 | 6.1.2023 | 122 134.81 | 0.01 |
| USD | 8 128 512.55 | BRL | 43 390 000.00 | 6.1.2023 | -67 094.07 | -0.01 |
| COP | 55 627 575 000.00 | USD | 11 509 709.09 | 6.1.2023 | -30 673.00 | 0.00 |
| BRL | 43 386 075.00 | USD | 8 181 420.89 | 6.12.2022 | 66 764.73 | 0.01 |
| USD | 11 577 018.73 | COP | 55 627 575 000.00 | 6.12.2022 | 31 534.84 | 0.00 |
| EUR | 1 000 000.00 | USD | 1 032 426.00 | 6.12.2022 | -2 695.20 | 0.00 |
| Total Forward Foreign Exchange contracts | -31 161 082.58 | -2.65 |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 85 200 431.69* | 7.25 |
| Bank overdraft and other short-term liabilities | -9 322 202.36 | -0.79 |
| Other assets and liabilities | -355 632.95 | -0.04 |
| Total net assets | 1 175 964 785.41 | 100.00 |

* As at 30 November 2022, cash amounts serve as collateral for the counterparty Citibank for an amount of USD 1 240 000.00, JP Morgan for an amount of USD 546 000.00 and Morgan Stanley London for an amount of USD 51 000.00.
UBS (Lux) Bond SICAV – Global Dynamic (USD) Semi-Annual Report as of 30 November 2022

Translation (ENFR, 2022-11-30):
# UBS (Lux) Bond SICAV – Global Dynamic (USD)
| Données principales |  |
| --- | --- |
|  | ISIN | 30.11.2022 | 31.5.2022 | 31.5.2021 |
| Actif net en USD |  | 1 175 964 785.41 | 1 073 426 743.85 | 1 387 273 948.99 |
| Catégorie (EUR hedged) I-A1-acc | LU1240811650 |  |  |  |
| Actions en circulation |  | 609 326.9260 | 322 802.7180 | 696 720.5160 |
| Valeur nette d’inventaire par action en EUR |  | 95.61 | 97.92 | 103.07 |
| Prix d’émission et de rachat par action en EUR 1 |  | 95.61 | 97.92 | 103.07 |
| Catégorie I-A2-acc 2 | LU2189802106 |  |  |  |
| Actions en circulation |  | - | - | 984 720.2910 |
| Valeur nette d’inventaire par action en USD |  | - | - | 104.75 |
| Prix d’émission et de rachat par action en USD 1 |  | - | - | 104.75 |
| Catégorie I-A3-acc 3 | LU2099389871 |  |  |  |
| Actions en circulation |  | 935 802.4030 | 1 008 279.6370 | - |
| Valeur nette d’inventaire par action en USD |  | 98.64 | 99.73 | - |
| Prix d’émission et de rachat par action en USD 1 |  | 98.64 | 99.73 | - |
| Catégorie (EUR hedged) I-A3-acc | LU2134544555 |  |  |  |
| Actions en circulation |  | 32 802.6880 | 33 212.6330 | 43 257.2780 |
| Valeur nette d’inventaire par action en EUR |  | 110.93 | 113.56 | 119.41 |
| Prix d’émission et de rachat par action en EUR 1 |  | 110.93 | 113.56 | 119.41 |
| Catégorie I-B-acc | LU2113590561 |  |  |  |
| Actions en circulation |  | 93 144.7580 | 108 417.0740 | 296 804.2700 |
| Valeur nette d’inventaire par action en USD |  | 96.81 | 97.64 | 101.26 |
| Prix d’émission et de rachat par action en USD 1 |  | 96.81 | 97.64 | 101.26 |
| Catégorie (EUR hedged) I-B-acc | LU1193130314 |  |  |  |
| Actions en circulation |  | 78 958.1720 | 327 004.9150 | 410 405.4760 |
| Valeur nette d’inventaire par action en EUR |  | 98.21 | 100.27 | 104.90 |
| Prix d’émission et de rachat par action en EUR 1 |  | 98.21 | 100.27 | 104.90 |
| Catégorie I-X-acc | LU1138686867 |  |  |  |
| Actions en circulation |  | 228 439.6520 | 289 585.6960 | 378 558.2010 |
| Valeur nette d’inventaire par action en USD |  | 130.50 | 131.57 | 136.37 |
| Prix d’émission et de rachat par action en USD 1 |  | 130.50 | 131.57 | 136.37 |
| Catégorie (CHF hedged) I-X-acc | LU1557225098 |  |  |  |
| Actions en circulation |  | 848 737.4720 | 824 422.3640 | 511 993.5060 |
| Valeur nette d’inventaire par action en CHF |  | 115.78 | 118.47 | 123.99 |
| Prix d’émission et de rachat par action en CHF 1 |  | 115.78 | 118.47 | 123.99 |
| Catégorie (EUR hedged) I-X-acc | LU1822788151 |  |  |  |
| Actions en circulation |  | 155 895.5390 | 155 895.5390 | 121 225.2080 |
| Valeur nette d’inventaire par action en EUR |  | 106.53 | 108.73 | 113.68 |
| Prix d’émission et de rachat par action en EUR 1 |  | 106.53 | 108.73 | 113.68 |
| Catégorie (CAD hedged) I-X-qdist 4 | LU2493301084 |  |  |  |
| Actions en circulation |  | 2 700 000.0000 | - | - |
| Valeur nette d’inventaire par action en CAD |  | 102.24 | - | - |
| Prix d’émission et de rachat par action en CAD 1 |  | 102.24 | - | - |
| Catégorie K-B-acc | LU2282404438 |  |  |  |
| Actions en circulation |  | 296 651.9660 | 296 651.9660 | 326 900.0000 |
| Valeur nette d’inventaire par action en USD |  | 94.86 | 95.69 | 99.29 |
| Prix d’émission et de rachat par action en USD 1 |  | 94.86 | 95.69 | 99.29 |
| Catégorie K-X-acc | LU1860987145 |  |  |  |
| Actions en circulation |  | 140 788.8360 | 223 508.6630 | 164 788.8360 |
| Valeur nette d’inventaire par action en USD |  | 115.43 | 116.39 | 120.69 |
| Prix d’émission et de rachat par action en USD 1 |  | 115.43 | 116.39 | 120.69 |
| Catégorie K-X-dist | LU1917356179 |  |  |  |
| Actions en circulation |  | 149 093.0950 | 149 093.0950 | 149 093.0950 |
| Valeur nette d’inventaire par action en USD |  | 96.83 | 100.45 | 107.42 |
| Prix d’émission et de rachat par action en USD 1 |  | 96.83 | 100.45 | 107.42 |
| Catégorie P-4%-mdist | LU2051222904 |  |  |  |
| Actions en circulation |  | 30 897.7750 | 30 110.7940 | 43 916.0810 |
| Valeur nette d’inventaire par action en USD |  | 88.39 | 91.54 | 100.16 |
| Prix d’émission et de rachat par action en USD 1 |  | 88.39 | 91.54 | 100.16 |
| Catégorie P-acc | LU0891671751 |  |  |  |
| Actions en circulation |  | 586 498.0160 | 622 714.0450 | 649 268.7490 |
| Valeur nette d’inventaire par action en USD |  | 121.51 | 123.39 | 129.75 |
| Prix d’émission et de rachat par action en USD 1 |  | 121.51 | 123.39 | 129.75 |
| Catégorie (CHF hedged) P-acc | LU0891672213 |  |  |  |
| Actions en circulation |  | 123 208.9580 | 101 053.1660 | 124 770.3430 |
| Valeur nette d’inventaire par action en CHF |  | 102.61 | 105.77 | 112.36 |
| Prix d’émission et de rachat par action en CHF 1 |  | 102.61 | 105.77 | 112.36 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2022
|  | ISIN | 30.11.2022 | 31.5.2022 | 31.5.2021 |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Catégorie (EUR hedged) P-acc | LU0891672056 |  |  |  |
| Actions en circulation |  | 2 147 654.6310 | 2 373 561.3340 | 2 792 700.8260 |
| Valeur nette d’inventaire par action en EUR |  | 106.51 | 109.52 | 116.22 |
| Prix d’émission et de rachat par action en EUR 1 |  | 106.51 | 109.52 | 116.22 |
| Catégorie P-dist | LU0891671835 |  |  |  |
| Actions en circulation |  | 59 699.1500 | 48 293.2440 | 44 236.5250 |
| Valeur nette d’inventaire par action en USD |  | 105.51 | 108.32 | 115.52 |
| Prix d’émission et de rachat par action en USD 1 |  | 105.51 | 108.32 | 115.52 |
| Catégorie (CHF hedged) P-dist | LU0891672304 |  |  |  |
| Actions en circulation |  | 37 869.0600 | 36 153.5680 | 40 564.8980 |
| Valeur nette d’inventaire par action en CHF |  | 88.58 | 92.68 | 100.14 |
| Prix d’émission et de rachat par action en CHF 1 |  | 88.58 | 92.68 | 100.14 |
| Catégorie (EUR hedged) P-dist | LU0891672130 |  |  |  |
| Actions en circulation |  | 66 686.9600 | 100 801.5470 | 145 771.3230 |
| Valeur nette d’inventaire par action en EUR |  | 91.64 | 95.86 | 103.31 |
| Prix d’émission et de rachat par action en EUR 1 |  | 91.64 | 95.86 | 103.31 |
| Catégorie Q-4%-mdist | LU2038039314 |  |  |  |
| Actions en circulation |  | 43 145.2060 | 137 554.7230 | 128 104.7630 |
| Valeur nette d’inventaire par action en USD |  | 89.53 | 92.44 | 100.52 |
| Prix d’émission et de rachat par action en USD 1 |  | 89.53 | 92.44 | 100.52 |
| Catégorie Q-acc | LU1240774783 |  |  |  |
| Actions en circulation |  | 783 090.3320 | 804 984.6060 | 983 891.7330 |
| Valeur nette d’inventaire par action en USD |  | 121.29 | 122.80 | 128.35 |
| Prix d’émission et de rachat par action en USD 1 |  | 121.29 | 122.80 | 128.35 |
| Catégorie (CHF hedged) Q-acc | LU1240774437 |  |  |  |
| Actions en circulation |  | 393 975.0120 | 412 244.6670 | 474 582.3430 |
| Valeur nette d’inventaire par action en CHF |  | 103.50 | 106.37 | 112.32 |
| Prix d’émission et de rachat par action en CHF 1 |  | 103.50 | 106.37 | 112.32 |
| Catégorie (EUR hedged) Q-acc | LU1240774601 |  |  |  |
| Actions en circulation |  | 637 869.1960 | 617 139.2940 | 845 260.0870 |
| Valeur nette d’inventaire par action en EUR |  | 106.26 | 108.94 | 114.91 |
| Prix d’émission et de rachat par action en EUR 1 |  | 106.26 | 108.94 | 114.91 |
| Catégorie Q-dist | LU1240774866 |  |  |  |
| Actions en circulation |  | 184 422.1050 | 219 860.9530 | 235 677.3560 |
| Valeur nette d’inventaire par action en USD |  | 105.78 | 109.38 | 117.01 |
| Prix d’émission et de rachat par action en USD 1 |  | 105.78 | 109.38 | 117.01 |
| Catégorie (CHF hedged) Q-dist | LU1240774510 |  |  |  |
| Actions en circulation |  | 150 276.9680 | 143 870.9260 | 153 651.6680 |
| Valeur nette d’inventaire par action en CHF |  | 90.11 | 94.47 | 101.94 |
| Prix d’émission et de rachat par action en CHF 1 |  | 90.11 | 94.47 | 101.94 |
| Catégorie (EUR hedged) Q-dist | LU1109640307 |  |  |  |
| Actions en circulation | 68 249.8430 | 57 812.7180 | 68 774.5520 |
| Valeur nette d’inventaire par action en EUR | 90.59 | 94.64 | 102.27 |
| Prix d’émission et de rachat par action en EUR 1 | 90.59 | 94.64 | 102.27 |
| 1  Voir note 1 2  La catégorie d’actions I-A2-acc était en circulation pour la période allant du 2.7.2020 au 12.4.2022 3  Première VNI 13.4.2022 4  Première VNI 14.7.2022 |  |  |  |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2022

## Structure du portefeuille-titres
Répartition géographique en % de l’actif net	
Etats-Unis	42.35
Nouvelle-Zélande	12.35
Grande-Bretagne	7.45
Luxembourg	4.25
Italie	4.08
Espagne	3.71
Mexique	3.31
France	2.44
Pays-Bas	2.01
Slovénie	1.38
Allemagne	1.28
Chine	1.28
Brésil	1.21
Fédération russe (CEI)	1.09
Canada	0.72
Danemark	0.63
Suisse	0.57
Australie	0.56
Japon	0.44
Iles Caïmans	0.35
Turquie	0.34
Roumanie	0.33
Norvège	0.33
Pérou	0.28
Grèce	0.27
Kazakhstan	0.27
Inde	0.20
Colombie	0.18
Mongolie	0.17
Costa Rica	0.17
Bulgarie	0.14
Thaïlande	0.14
Finlande	0.14
Ghana	0.12
Egypte	0.11
Arabie saoudite	0.11
Kenya	0.10
Nigéria	0.10
Philippines	0.10
Bermudes	0.09
Pologne	0.07
République tchèque	0.07
Equateur	0.06
Argentine	0.06
Irlande	0.06
Suède	0.05
Jersey	0.04
Belgique	0.04
Chili	0.04
Répartition économique en % de l’actif net	
Gouvernements nationaux et centraux	69.42
Emetteurs d’obligations sécurisées (Pfandbriefe) et
sociétés de refinancement	4.89
Etablissements financiers et sociétés de participation	4.66
Banques & instituts de crédit	4.49
Fonds de placement	2.84
Trafic et transport	1.39
Télécommunications	1.07
Distribution d’énergie & d’eau	0.90
Assurances	0.88
Chimie	0.72
Diverses sociétés non classées	0.68
Pétrole	0.63
Immobilier	0.56
Cantons, Etats fédéraux	0.50
Commerce de détail, centres commerciaux	0.44
Internet, logiciels et services informatiques	0.42
Industrie minière, charbon et acier	0.27
Tabac et boissons alcoolisées	0.20
Véhicules	0.19
Appareils et composants électriques	0.18
Machines et appareils	0.10
Soins de santé & services sociaux	0.07
Equipement informatique et de réseau	0.05
Industrie de conditionnement	0.04
Industrie graphique, édition et médias	0.03
Services divers	0.02
Total	95.64
Total	95.64
UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2022

## Etat des actifs nets
USD
Portefeuille-titres, cours d’achat	1 338 927 822.58
Portefeuille-titres, plus- (moins-) value non-réalisée	214 245 815.64
Total portefeuille-titres (note 1)	1 124 682 006.94
Avoirs en banque, dépôts à vue et à terme	57 797 262.36*
Autres liquidités (marges)	27 403 169.33
A recevoir sur ventes de titres (note 1)	40 600 971.49
A recevoir sur souscriptions	662 216.20
Intérêts à recevoir sur titres	8 355 766.80
Intérêts à recevoir sur liquidités	5 589.52
Frais payés d’avance	72 294.91
Bénéfice non réalisé sur contrats financiers à terme (note 1)	710 074.53
Bénéfice non réalisé sur swaps (note 1)	6 211 190.14
Perte non réalisée sur contrats de change à terme (note 1)	-31 161 082.58
Crédit en compte courant	-9 322 202.36
Intérêts à payer sur crédit en compte courant	-386.89
A payer sur achats de titres (note 1)	-48 482 734.38
A payer sur rachats	-768 715.78
Provisions pour commission de gestion forfaitaire (note 2)	-661 118.47
Provisions pour taxe d’abonnement (note 3)	-63 033.31
Provisions pour autres commissions et frais (note 2)		-76 483.04		 Total des Provisions pour frais			-800 634.82

## Etat des opérations
USD
Revenus d’intérêts sur liquidités	522 198.83
Intérêts sur titres	14 543 929.76
Dividendes	1 793 438.66
Revenus d’intérêts sur swaps (note 1)	16 391 399.96
Revenus nets sur prêts de titres (note 11)	196 862.31
Autres revenus (note 4)	844 010.90
Charges d’intérêts sur swaps (note 1)	-16 548 382.79
Commission de gestion forfaitaire (note 2)	-3 968 016.68
Taxe d’abonnement (note 3)	-175 977.36
Autres commissions et frais (note 2)	-74 686.45
Charges d’intérêts sur liquidités et crédit en compte courant	-255 265.89
Bénéfice (perte) réalisé(e) sur titres évalués à la valeur de marché hors options	-38 366 025.94 Bénéfice (perte) réalisé(e) sur instruments du marché monétaire et titres évalués en fonction des rendements		584 555.89
Bénéfice (perte) réalisé(e) sur contrats financiers à terme	46 275 101.33
Bénéfice (perte) réalisé(e) sur contrats de change à terme	8 188 291.06
Bénéfice (perte) réalisé(e) sur swaps	12 965 566.10
Bénéfice (perte) réalisé(e) de change réalisé(e)	11 836 484.70
Plus- (Moins-) value non réalisée sur titres évalués à la valeur de marché hors options	-20 971 765.96 Plus- (Moins-) value non réalisée sur instruments du marché monétaire et titres évalués en fonction des rendements		6 391.22
Plus- (Moins-) value non réalisée sur contrats financiers à terme	-15 919 874.56
Plus- (Moins-) value non réalisée sur contrats de change à terme	-35 438 731.83
Plus- (Moins-) value non réalisée sur swaps	-23 835 919.71
* Au 30 novembre 2022, des avoirs en banque ont été utilisés à titre de garanties, à hauteur de 1 240 000.00 USD en faveur de Citibank, à hauteur de 546 000.00 USD en faveur de JP Morgan et à hauteur de 51 000.00 USD en faveur de Morgan Stanley London.
UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2022
| Variations de l’actif net |  |
| --- | --- |
|  | USD |
|  | 1.6.2022-30.11.2022 |
| Actif net au début de la période | 1 073 426 743.85 |
| Souscriptions | 293 595 022.69 |
| Rachats | 	-146 451 900.53	 |
| Souscriptions (Rachats) net(te)s | 147 143 122.16 |
| Dividendes versés | -3 198 664.15 |
| Revenus (Pertes) net(te)s des investissements | 13 269 511.25 |
| Total des Bénéfices (pertes) réalisé(e)s | 41 483 973.14 |
| Total des Variations des plus- (moins-) values non-réalisées | 	-96 159 900.84	 |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | -41 406 416.45 |
| Actifs nets à la fin de la période | 1 175 964 785.41 |
| Evolution des actions en circulation |  |
|  | 1.6.2022-30.11.2022 |
| Catégorie | (EUR hedged) I-A1-acc |
| Nombre d’actions en circulation au début de la période | 322 802.7180 |
| Nombre d’actions émises | 311 090.6250 |
| Nombre d’actions rachetées | -24 566.4170 |
| Nombre d’actions en circulation à la fin de la période | 609 326.9260 |
| Catégorie | I-A3-acc |
| Nombre d’actions en circulation au début de la période | 1 008 279.6370 |
| Nombre d’actions émises | 58 603.6090 |
| Nombre d’actions rachetées | -131 080.8430 |
| Nombre d’actions en circulation à la fin de la période | 935 802.4030 |
| Catégorie | (EUR hedged) I-A3-acc |
| Nombre d’actions en circulation au début de la période | 33 212.6330 |
| Nombre d’actions émises | 3 349.0050 |
| Nombre d’actions rachetées | -3 758.9500 |
| Nombre d’actions en circulation à la fin de la période | 32 802.6880 |
| Catégorie | I-B-acc |
| Nombre d’actions en circulation au début de la période | 108 417.0740 |
| Nombre d’actions émises | 0.0000 |
| Nombre d’actions rachetées | -15 272.3160 |
| Nombre d’actions en circulation à la fin de la période | 93 144.7580 |
| Catégorie | (EUR hedged) I-B-acc |
| Nombre d’actions en circulation au début de la période | 327 004.9150 |
| Nombre d’actions émises | 40 885.2000 |
| Nombre d’actions rachetées | -288 931.9430 |
| Nombre d’actions en circulation à la fin de la période | 78 958.1720 |
| Catégorie | I-X-acc |
| Nombre d’actions en circulation au début de la période | 289 585.6960 |
| Nombre d’actions émises | 0.0000 |
| Nombre d’actions rachetées | -61 146.0440 |
| Nombre d’actions en circulation à la fin de la période | 228 439.6520 |
| Catégorie | (CHF hedged) I-X-acc |
| Nombre d’actions en circulation au début de la période | 824 422.3640 |
| Nombre d’actions émises | 26 865.9730 |
| Nombre d’actions rachetées | -2 550.8650 |
| Nombre d’actions en circulation à la fin de la période | 848 737.4720 |
| Catégorie | (EUR hedged) I-X-acc |
| Nombre d’actions en circulation au début de la période | 155 895.5390 |
| Nombre d’actions émises | 0.0000 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de la période | 155 895.5390 |
| Catégorie | (CAD hedged) I-X-qdist |
| Nombre d’actions en circulation au début de la période | 0.0000 |
| Nombre d’actions émises | 2 700 000.0000 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de la période | 2 700 000.0000 |
| Catégorie | K-B-acc |
| Nombre d’actions en circulation au début de la période | 296 651.9660 |
| Nombre d’actions émises | 0.0000 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de la période | 296 651.9660 |
| Catégorie | K-X-acc |
| Nombre d’actions en circulation au début de la période | 223 508.6630 |
| Nombre d’actions émises | 0.0000 |
| Nombre d’actions rachetées | -82 719.8270 |
| Nombre d’actions en circulation à la fin de la période | 140 788.8360 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2022
| Catégorie | K-X-dist |
| --- | --- |
| Nombre d’actions en circulation au début de la période | 149 093.0950 |
| Nombre d’actions émises | 0.0000 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de la période | 149 093.0950 |
| Catégorie | P-4%-mdist |
| Nombre d’actions en circulation au début de la période | 30 110.7940 |
| Nombre d’actions émises | 41 492.2970 |
| Nombre d’actions rachetées | -40 705.3160 |
| Nombre d’actions en circulation à la fin de la période | 30 897.7750 |
| Catégorie | P-acc |
| Nombre d’actions en circulation au début de la période | 622 714.0450 |
| Nombre d’actions émises | 26 704.8350 |
| Nombre d’actions rachetées | -62 920.8640 |
| Nombre d’actions en circulation à la fin de la période | 586 498.0160 |
| Catégorie | (CHF hedged) P-acc |
| Nombre d’actions en circulation au début de la période | 101 053.1660 |
| Nombre d’actions émises | 27 585.0950 |
| Nombre d’actions rachetées | -5 429.3030 |
| Nombre d’actions en circulation à la fin de la période | 123 208.9580 |
| Catégorie | (EUR hedged) P-acc |
| Nombre d’actions en circulation au début de la période | 2 373 561.3340 |
| Nombre d’actions émises | 36 832.8570 |
| Nombre d’actions rachetées | -262 739.5600 |
| Nombre d’actions en circulation à la fin de la période | 2 147 654.6310 |
| Catégorie | P-dist |
| Nombre d’actions en circulation au début de la période | 48 293.2440 |
| Nombre d’actions émises | 13 042.8390 |
| Nombre d’actions rachetées | -1 636.9330 |
| Nombre d’actions en circulation à la fin de la période | 59 699.1500 |
| Catégorie | (CHF hedged) P-dist |
| Nombre d’actions en circulation au début de la période | 36 153.5680 |
| Nombre d’actions émises | 3 363.5220 |
| Nombre d’actions rachetées | -1 648.0300 |
| Nombre d’actions en circulation à la fin de la période | 37 869.0600 |
| Catégorie | (EUR hedged) P-dist |
| Nombre d’actions en circulation au début de la période | 100 801.5470 |
| Nombre d’actions émises | 2 712.3760 |
| Nombre d’actions rachetées | -36 826.9630 |
| Nombre d’actions en circulation à la fin de la période | 66 686.9600 |
| Catégorie | Q-4%-mdist |
| Nombre d’actions en circulation au début de la période | 137 554.7230 |
| Nombre d’actions émises | 5 695.4080 |
| Nombre d’actions rachetées | -100 104.9250 |
| Nombre d’actions en circulation à la fin de la période | 43 145.2060 |
| Catégorie | Q-acc |
| Nombre d’actions en circulation au début de la période | 804 984.6060 |
| Nombre d’actions émises | 87 824.2550 |
| Nombre d’actions rachetées | -109 718.5290 |
| Nombre d’actions en circulation à la fin de la période | 783 090.3320 |
| Catégorie | (CHF hedged) Q-acc |
| Nombre d’actions en circulation au début de la période | 412 244.6670 |
| Nombre d’actions émises | 26 098.1880 |
| Nombre d’actions rachetées | -44 367.8430 |
| Nombre d’actions en circulation à la fin de la période | 393 975.0120 |
| Catégorie | (EUR hedged) Q-acc |
| Nombre d’actions en circulation au début de la période | 617 139.2940 |
| Nombre d’actions émises | 90 594.6740 |
| Nombre d’actions rachetées | -69 864.7720 |
| Nombre d’actions en circulation à la fin de la période | 637 869.1960 |
| Catégorie | Q-dist |
| Nombre d’actions en circulation au début de la période | 219 860.9530 |
| Nombre d’actions émises | 5 781.1180 |
| Nombre d’actions rachetées | -41 219.9660 |
| Nombre d’actions en circulation à la fin de la période | 184 422.1050 |
| Catégorie | (CHF hedged) Q-dist |
| Nombre d’actions en circulation au début de la période | 143 870.9260 |
| Nombre d’actions émises | 16 562.7770 |
| Nombre d’actions rachetées | -10 156.7350 |
| Nombre d’actions en circulation à la fin de la période | 150 276.9680 |
| Catégorie | (EUR hedged) Q-dist |
| Nombre d’actions en circulation au début de la période | 57 812.7180 |
| Nombre d’actions émises | 11 605.8850 |
| Nombre d’actions rachetées | -1 168.7600 |
| Nombre d’actions en circulation à la fin de la période | 68 249.8430 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2022
| Distribution annuelle 1 |  |
| --- | --- |
| UBS (Lux) Bond SICAV – Global Dynamic (USD) | Date de détachement | Date de versement | Devise | Montant par action |
| K-X-dist | 1.8.2022 | 4.8.2022 | USD | 2.73 |
| P-dist | 1.8.2022 | 4.8.2022 | USD | 1.14 |
| (CHF hedged) P-dist | 1.8.2022 | 4.8.2022 | CHF | 1.32 |
| (EUR hedged) P-dist | 1.8.2022 | 4.8.2022 | EUR | 1.57 |
| Q-dist | 1.8.2022 | 4.8.2022 | USD | 2.22 |
| (CHF hedged) Q-dist | 1.8.2022 | 4.8.2022 | CHF | 1.80 |
| (EUR hedged) Q-dist | 1.8.2022 | 4.8.2022 | EUR | 1.70 |
| Distribution trimestrielle 1 |  |  |  |  |
| UBS (Lux) Bond SICAV – Global Dynamic (USD) | Date de détachement | Date de versement | Devise | Montant par action |
| (CAD hedged) I-X-qdist | 17.10.2022 | 20.10.2022 | CAD | 0.69 |
| Distribution mensuelle 1 |  |  |  |  |
| UBS (Lux) Bond SICAV – Global Dynamic (USD) | Date de détachement | Date de versement | Devise | Montant par action |
| P-4%-mdist | 10.6.2022 | 15.6.2022 | USD | 0.30 |
| P-4%-mdist | 11.7.2022 | 14.7.2022 | USD | 0.29 |
| P-4%-mdist | 10.8.2022 | 15.8.2022 | USD | 0.29 |
| P-4%-mdist | 13.9.2022 | 16.9.2022 | USD | 0.29 |
| P-4%-mdist | 11.10.2022 | 14.10.2022 | USD | 0.28 |
| P-4%-mdist | 10.11.2022 | 15.11.2022 | USD | 0.28 |
| Q-4%-mdist | 10.6.2022 | 15.6.2022 | USD | 0.30 |
| Q-4%-mdist | 11.7.2022 | 14.7.2022 | USD | 0.29 |
| Q-4%-mdist | 10.8.2022 | 15.8.2022 | USD | 0.29 |
| Q-4%-mdist | 13.9.2022 | 16.9.2022 | USD | 0.29 |
| Q-4%-mdist | 11.10.2022 | 14.10.2022 | USD | 0.29 |
| Q-4%-mdist | 10.11.2022 | 15.11.2022 | USD | 0.29 |
| 1  Voir note 5 |  |  |  |  |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2022

## Etat du portefeuille-titres et autres actifs nets au 30 novembre 2022
| 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 |  |  |  |
| BRL |  |  |  |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF 10.00000% 16-01.01.27 | 10 250.00 | 1 787 816.66 | 0.15 |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF 10.00000% 20-01.01.31 | 70 550.00 | 11 661 331.03 | 0.99 |
| Total BRL |  | 13 449 147.69 | 1.14 |
| CAD |  |  |  |
| CAD	ONTARIO, PROVINCE OF 2.70000% 19-02.06.29 | 6 000 000.00 | 4 184 306.26 | 0.36 |
| CAD	QUEBEC, PROVINCE OF 2.30000% 19-01.09.29 | 2 500 000.00 | 1 698 618.80 | 0.14 |
| Total CAD |  | 5 882 925.06 | 0.50 |
| EUR |  |  |  |
| EUR	ALTICE FINCO SA-REG-S 4.75000% 17-15.01.28 | 1 000 000.00 | 787 939.66 | 0.07 |
| EUR	ALTICE FRANCE HOLDING SA-REG-S 8.00000% 19-15.05.27 | 3 125 000.00 | 2 443 102.04 | 0.21 |
| EUR	ALTICE FRANCE-REG-S 5.87500% 18-01.02.27 | 2 240 000.00 | 2 075 866.65 | 0.18 |
| EUR	ARD FINANCE SA-REG-S (PIK) 5.00000% 19-30.06.27 | 2 202 600.00 | 1 590 778.08 | 0.13 |
| EUR	BACARDI LTD-REG-S 2.75000% 13-03.07.23 | 200 000.00 | 205 120.69 | 0.02 |
| EUR	BP CAPITAL MARKETS BV-REG-S 0.93300% 20-04.12.40 | 790 000.00 | 542 016.05 | 0.05 |
| EUR	BULGARIAN ENERGY HOLDING EAD-REG-S 2.45000% 21-22.07.28 | 2 115 000.00 | 1 675 203.22 | 0.14 |
| EUR	CELANESE US HOLDINGS LLC 4.77700% 22-19.07.26 | 1 000 000.00 | 994 833.55 | 0.08 |
| EUR	CHINA, PEOPLE’S REPUBLIC OF-REG-S 1.00000% 19-12.11.39 | 2 810 000.00 | 2 069 263.80 | 0.18 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 2.87500% 21-11.02.25 | 2 000 000.00 | 1 954 110.95 | 0.17 |
| EUR	DKT FINANCE APS-REG-S 7.00000% 18-17.06.23 | 5 225 000.00 | 5 237 600.82 | 0.44 |
| EUR	EG GLOBAL FINANCE PLC-REG-S 4.37500% 19-07.02.25 | 2 500 000.00 | 2 246 130.00 | 0.19 |
| EUR	EG GLOBAL FINANCE PLC-REG-S 6.25000% 19-30.10.25 | 500 000.00 | 450 471.88 | 0.04 |
| EUR	FISERV INC 1.62500% 19-01.07.30 | 495 000.00 | 433 484.15 | 0.04 |
| EUR	GTC AURORA LUXEMBOURG SA-REG-S 2.25000% 21-23.06.26 | 1 315 000.00 | 986 381.53 | 0.08 |
| EUR	JAGUAR LAND ROVER AUTOMOTIVE PLC-REG-S 4.50000% 18-15.01.26 | 1 700 000.00 | 1 554 786.74 | 0.13 |
| EUR	MACIF-REG-S-SUB 0.62500% 21-21.06.27 | 1 000 000.00 | 854 339.73 | 0.07 |
| EUR	NATIONAL GRID ELECTRICITY TRANS-REG-S 0.19000% 20-20.01.25 | 535 000.00 | 516 590.27 | 0.04 |
| EUR	TELE COLUMBUS AG-REG-S 3.87500% 18-02.05.25 | 545 000.00 | 438 001.63 | 0.04 |
| EUR	TEVA PHARMACEUTICAL FINANCE II BV 4.50000% 18-01.03.25 | 1 500 000.00 | 1 489 742.67 | 0.13 |
| EUR	TRITAX EUROBOX PLC-REG-S 0.95000% 21-02.06.26 | 760 000.00 | 641 155.14 | 0.05 |
| EUR	VERISURE MIDHOLDING AB-REG-S 5.25000% 21-15.02.29 | 715 000.00 | 593 561.05 | 0.05 |
| Total EUR |  | 29 780 480.30 | 2.53 |
| GBP |  |  |  |
| GBP	CPUK FINANCE LTD-REG-S 4.50000% 21-28.08.27 | 530 000.00 | 523 823.90 | 0.05 |
| Total GBP |  | 523 823.90 | 0.05 |
| USD |  |  |  |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 4.50000% 20-15.09.23 | 240 000.00 | 237 028.45 | 0.02 |
| USD	AERCAP IRELAND CAP/ GLBL AVIATION TRUST 6.50000% 20-15.07.25 | 310 000.00 | 313 180.62 | 0.03 |
| USD	ALTRIA GROUP INC 4.25000% 12-09.08.42 | 150 000.00 | 111 843.56 | 0.01 |
| USD	ALTRIA GROUP INC 4.80000% 19-14.02.29 | 56 000.00 | 53 752.61 | 0.00 |
| USD	AMERICAN EXPRESS CO 3.40000% 18-27.02.23 | 750 000.00 | 747 992.77 | 0.06 |
| USD	APT PIPELINES LTD-REG-S 4.20000% 15-23.03.25 | 1 000 000.00 | 961 869.10 | 0.08 |
| USD	ARCELORMITTAL SA 6.80000% 22-29.11.32 | 2 695 000.00 | 2 723 646.82 | 0.23 |
| USD	ARGENTINA, REPUBLIC OF STEP-UP 20-09.07.35 | 970 000.00 | 235 225.00 | 0.02 |
| USD	ARGENTINA, REPUBLIC OF STEP-UP 20-09.01.38 | 210 305.00 | 63 590.97 | 0.01 |
| USD	ARGENTINA, REPUBLIC OF 1.00000% 20-09.07.29 | 55 703.00 | 14 482.78 | 0.00 |
| USD	CELANESE US HOLDINGS LLC 6.05000% 22-15.03.25 | 1 980 000.00 | 1 970 055.45 | 0.17 |
| USD	CELANESE US HOLDINGS LLC 6.16500% 22-15.07.27 | 1 595 000.00 | 1 561 104.80 | 0.13 |
| USD	CELANESE US HOLDINGS LLC 5.90000% 22-05.07.24 | 1 545 000.00 | 1 535 553.49 | 0.13 |
| USD	CHILE, REPUBLIC OF 3.86000% 17-21.06.47 | 600 000.00 | 477 750.00 | 0.04 |
| USD	COLOMBIA, REPUBLIC OF 5.20000% 19-15.05.49 | 1 000 000.00 | 672 500.00 | 0.06 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 4.25000% 12-26.01.23 | 2 000 000.00 | 1 991 625.00 | 0.17 |
| USD	DISCOVERY COMMUNICATIONS LLC 5.30000% 19-15.05.49 | 500 000.00 | 392 623.10 | 0.03 |
| USD	ECUADOR GOVT INTERNATIONAL BD-REG-S STEP-UP/DOWN 20-31.07.35 | 802 386.00 | 349 439.10 | 0.03 |
| USD	ECUADOR, REPUBLIC OF-REG-S STEP-UP 0.50000% 20-31.07.30 | 306 180.00 | 185 391.99 | 0.02 |
| USD	ECUADOR, REPUBLIC OF-REG-S STEP-UP 20-31.07.40 | 367 740.00 | 145 785.93 | 0.01 |
| USD	FISERV INC 3.20000% 19-01.07.26 | 620 000.00 | 583 645.08 | 0.05 |
| USD	FLOWSERVE CORP 3.50000% 20-01.10.30 | 1 450 000.00 | 1 213 628.29 | 0.10 |
| USD	GENERAL MOTORS CO 6.12500% 20-01.10.25 | 705 000.00 | 714 224.02 | 0.06 |
| USD	GENERAL MOTORS FINANCIAL CO 4.35000% 18-09.04.25 | 300 000.00 | 293 616.16 | 0.03 |
| USD	GEORGIA POWER CO 2.10000% 20-30.07.23 | 480 000.00 | 470 103.42 | 0.04 |
| USD	GHANA GOVT INTNL BOND-REG-S 6.37500% 20-11.02.27 | 3 700 000.00 | 1 406 000.00 | 0.12 |
| USD	GOLDMAN SACHS GROUP INC 3.50000% 20-01.04.25 | 1 100 000.00 | 1 064 449.44 | 0.09 |
| USD	INTERNATIONAL BUSINESS MACHINES CORP 3.30000% 19-15.05.26 | 550 000.00 | 525 057.29 | 0.05 |
| USD	JPMORGAN CHASE & CO 3.20000% 13-25.01.23 | 500 000.00 | 499 029.86 | 0.04 |
| USD	KENYA, REPUBLIC OF-REG-S 8.25000% 18-28.02.48 | 1 550 000.00 | 1 214 812.50 | 0.10 |
| USD	MEITUAN DIANPING-REG-S 3.05000% 20-28.10.30 | 3 600 000.00 | 2 654 550.00 | 0.23 |
| USD	NIGERIA, FEDERAL REPUBLIC OF-REG-S 9.24800% 18-21.01.49 | 1 500 000.00 | 1 136 250.00 | 0.10 |
| USD	PEGASUS HAVA TASIMACILIGI AS-REG-S 9.25000% 21-30.04.26 | 1 315 000.00 | 1 235 524.68 | 0.11 |
| USD	PHILIPPINES, REPUBLIC OF THE 2.45700% 20-05.05.30 | 1 300 000.00 | 1 114 893.00 | 0.10 |
| USD	RAKUTEN GROUP INC-REG-S 10.25000% 22-30.11.24 | 3 945 000.00 | 3 872 795.61 | 0.33 |
| USD	RELIANCE INDUSTRIES LTD-REG-S 3.62500% 22-12.01.52 | 3 500 000.00 | 2 365 343.75 | 0.20 |
| USD	REYNOLDS AMERICAN INC 5.70000% 15-15.08.35 | 400 000.00 | 369 274.43 | 0.03 |
| USD	SANTOS FINANCE LTD-REG-S 3.64900% 21-29.04.31 | 1 540 000.00 | 1 230 622.93 | 0.10 |
| USD	SAUDI ARABIAN OIL CO-REG-S 1.62500% 20-24.11.25 | 420 000.00 | 383 250.00 | 0.03 |
| USD	SHIMAO PRPTY HLDG LTD-REG-S *DEFAULTED* 4.60000% 20-13.07.30 | 200 000.00 | 21 000.00 | 0.00 |
| USD	SHIMAO PRPTY HLDG LTD-REG-S *DEFAULTED* 3.45000% 21-11.01.31 | 725 000.00 | 76 125.00 | 0.01 |
| USD	SHIMAO PRPTY HLDG LTD-REG-S *DEFAULTED* 5.20000% 21-16.01.27 | 970 000.00 | 106 700.00 | 0.01 |
| USD	SPRINT CORP 7.87500% 14-15.09.23 | 1 000 000.00 | 1 021 640.00 | 0.09 |
| USD	SUNAC CHINA HOLDINGS-REG-S *DEFAULTED* 7.00000% 20-09.07.25 | 875 000.00 | 95 156.25 | 0.01 |
| USD	TURKEY, REPUBLIC OF 6.87500% 06-17.03.36 | 2 680 000.00 | 2 237 800.00 | 0.19 |
| USD	VEB FINANCE PLC-REG-S LPN 5.94200% 13-21.11.23 | 500 000.00 | 24 062.50 | 0.00 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2022
|  | 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 | VMWARE INC 1.00000% 21-15.08.24 | 1 040 000.00 | 968 373.13 | 0.08 |
| USD | WESTPAC BANKING CORP-SUB 4.42100% 19-24.07.39 | 325 000.00 | 263 347.86 | 0.02 |
| USD | YPF SA-REG-S 6.95000% 17-21.07.27 | 400 000.00 | 266 600.00 | 0.02 |
| USD | YPF SA-REG-S 7.00000% 17-15.12.47 | 230 000.00 | 126 500.00 | 0.01 |
| Total USD |  |  | 42 298 816.74 | 3.60 |
| Total des Billets, taux fixe |  | 91 935 193.69 | 7.82 |
| Billets, coupon zéro |  |  |  |
| USD |  |  |  |
| USD	ECUADOR, REPUBLIC OF-REG-S 0.00000% 20-31.07.30 | 105 089.00 | 38 442.87 | 0.00 |
| Total USD |  | 38 442.87 | 0.00 |
| Total des Billets, coupon zéro |  | 38 442.87 | 0.00 |
| Billets, taux variable |  |  |  |
| EUR |  |  |  |
| EUR	ASR NEDERLAND NV-REG-S-SUB 7.000%/VAR 22-07.12.43 | 990 000.00 | 1 062 406.91 | 0.09 |
| EUR	BPCE SA-REG-S-SUB 1.500%/VAR 21-13.01.42 | 2 600 000.00 | 2 287 841.12 | 0.20 |
| EUR	BRITISH AMERICAN TOBACCO PLC-REG-S -SUB 3.750%/VAR 21-PRP | 2 070 000.00 | 1 615 676.40 | 0.14 |
| EUR	CREDIT SUISSE GROUP-REG-S 2.125%/VAR 22-13.10.26 | 2 560 000.00 | 2 247 572.07 | 0.19 |
| EUR	CREDIT SUISSE GROUP-REG-S 2.875%/VAR 22-02.04.32 | 1 595 000.00 | 1 167 436.23 | 0.10 |
| EUR	ENI SPA-REG-S-SUB 3.375%/VAR 20-PRP | 375 000.00 | 322 409.15 | 0.03 |
| EUR	ITALY, REPUBLIC OF-144A-REG-S 2.350%/CPI LINKED 14-15.09.24 | 4 270 000.00 | 5 526 851.85 | 0.47 |
| EUR	ORSTED AS-REG-S-SUB 5.250%/VAR 22-08.12.22 | 790 000.00 | 813 423.50 | 0.07 |
| EUR	RAKUTEN GROUP INC-REG-S-SUB 4.250%VAR 21-PRP | 2 210 000.00 | 1 333 009.10 | 0.11 |
| EUR	TELEFONICA EUROPE BV-REG-S-SUB 7.125%/VAR 22-PRP | 1 600 000.00 | 1 703 815.40 | 0.14 |
| EUR	VOLKSWAGEN INTERNATIONAL FIN-REG-S-SUB 4.375%/VAR 22-PRP | 600 000.00 | 515 780.52 | 0.04 |
| EUR	WINTERSHALL DEA FINANCE 2BV-REG-S-SUB 2.498%/VAR 21-PRP | 1 900 000.00 | 1 613 976.38 | 0.14 |
| EUR	WINTERSHALL DEA FINANCE 2BV-REG-S-SUB 3.000%/VAR 21-PRP | 1 500 000.00 | 1 167 172.11 | 0.10 |
| Total EUR |  | 21 377 370.74 | 1.82 |
| USD |  |  |  |
| USD	ALLIANZ SE-REG-S-SUB 3.500%/VAR 20-PRP | 800 000.00 | 679 000.00 | 0.06 |
| USD	BARCLAYS PLC-SUB COCO 8.000% 22-PRP | 1 035 000.00 | 975 487.50 | 0.08 |
| USD	CORP FINANCIERA DE DESARROL-REG-S-SUB 5.250%/VAR 14-15.07.29 | 500 000.00 | 474 000.00 | 0.04 |
| USD	CREDIT SUISSE GROUP AG-REG-S-SUB 6.250%/VAR 14-PRP | 480 000.00 | 364 800.00 | 0.03 |
| USD	DEUTSCHE BANK AG/NEW YORK NY 2.222%/VAR 20-18.09.24 | 355 000.00 | 340 587.66 | 0.03 |
| USD	ELECTRICITE DE FRANCE SA-REG-S-SUB 5.625%/VAR 14-PRP | 450 000.00 | 423 340.90 | 0.04 |
| USD	PRUDENTIAL PLC-SUB-REG-S 2.950%/VAR 21-03.11.33 | 3 105 000.00 | 2 456 353.08 | 0.21 |
| USD	SOCIETE GENERAL SA-REG-S-SUB 7.375%/VAR 18-PRP | 2 000 000.00 | 1 919 740.00 | 0.16 |
| USD	SOCIETE GENERALE SA-REG-S-SUB 9.375%/VAR 22-PRP | 2 100 000.00 | 2 155 125.00 | 0.18 |
| USD	STANDARD CHARTERED PLC-REG-S 3.885%/VAR 18-15.03.24 | 400 000.00 | 397 085.49 | 0.03 |
| USD	VODAFONE GROUP PLC-SUB 3.250%/VAR 21-04.06.81 | 960 000.00 | 796 608.00 | 0.07 |
| USD	WESTPAC BANKING CORP-SUB 4.110%/VAR 19-24.07.34 | 450 000.00 | 381 602.21 | 0.03 |
| Total USD |  | 11 363 729.84 | 0.96 |
| Total des Billets, taux variable |  | 32 741 100.58 | 2.78 |
| Medium-Term Notes, taux fixe |  |  |  |
| EUR |  |  |  |
| EUR	AEROPORTI DI ROMA SPA-REG-S 1.75000% 21-30.07.31 | 1 090 000.00 | 861 278.44 | 0.07 |
| EUR	AROUNDTOWN SA-REG-S 2.00000% 18-02.11.26 | 100 000.00 | 84 542.30 | 0.01 |
| EUR	BANCO DE SABADELL SA-REG-S-SUB 2.50000% 21-15.04.31 | 2 500 000.00 | 2 210 658.55 | 0.19 |
| EUR	CANAL DE ISABEL II GESTION SA-REG-S 1.68000% 15-26.02.25 | 200 000.00 | 197 190.74 | 0.02 |
| EUR	CEZ AS-REG-S 2.37500% 22-06.04.27 | 805 000.00 | 759 939.57 | 0.06 |
| EUR	CPI PROPERTY GROUP SA-REG-S 2.75000% 20-12.05.26 | 930 000.00 | 769 334.51 | 0.07 |
| EUR	CTP NV-REG-S 0.87500% 22-20.01.26 | 3 885 000.00 | 3 278 211.92 | 0.28 |
| EUR	DANSKE BANK AS-REG-S-SUB 1.50000% 20-02.09.30 | 285 000.00 | 263 941.48 | 0.02 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 2.87500% 21-16.05.27 | 1 100 000.00 | 993 665.79 | 0.08 |
| EUR	DNB BANK ASA-REG-S 0.05000% 19-14.11.23 | 1 200 000.00 | 1 203 640.26 | 0.10 |
| EUR	ELECTRICITE DE FRANCE-REG-S 2.00000% 19-09.12.49 | 300 000.00 | 203 681.03 | 0.02 |
| EUR	ELENIA VERKKO OYJ-REG-S 0.37500% 20-06.02.27 | 445 000.00 | 392 685.09 | 0.03 |
| EUR	ENBW INTERNATIONAL FINANCE BV-REG-S 4.04900% 22-22.11.29 | 1 045 000.00 | 1 097 123.03 | 0.09 |
| EUR	FERROVIE DELLO STATO ITALIANE SPA-REG-S 3.75000% 22-14.04.27 | 3 220 000.00 | 3 244 654.50 | 0.28 |
| EUR	GLOBALWORTH REAL ESTATE INVEST-REG-S 3.00000% 18-29.03.25 | 200 000.00 | 180 484.77 | 0.02 |
| EUR	KBC GROUP NV-REG-S 1.12500% 19-25.01.24 | 200 000.00 | 201 605.47 | 0.02 |
| EUR	NASSA TOPCO AS-REG-S 2.87500% 17-06.04.24 | 1 400 000.00 | 1 364 634.27 | 0.12 |
| EUR	NEW YORK LIFE GLOBAL FUNDING-REG-S 0.25000% 20-23.01.27 | 1 265 000.00 | 1 148 972.90 | 0.10 |
| EUR	ORANO SA-REG-S 5.37500% 22-15.05.27 | 2 300 000.00 | 2 449 187.27 | 0.21 |
| EUR	P3 GROUP SARL-REG-S 0.87500% 22-26.01.26 | 2 240 000.00 | 1 904 184.84 | 0.16 |
| EUR	PPF ARENA 1 BV-REG-S 2.12500% 19-31.01.25 | 4 750 000.00 | 4 589 004.36 | 0.39 |
| EUR	REDEXIS GAS FINANCE BV-REG-S 1.87500% 15-27.04.27 | 400 000.00 | 372 413.69 | 0.03 |
| EUR	REN FINANCE B V-REG-S 2.50000% 15-12.02.25 | 600 000.00 | 603 738.99 | 0.05 |
| EUR	ROMANIA-REG-S 4.62500% 19-03.04.49 | 4 000 000.00 | 3 091 009.30 | 0.26 |
| EUR	RWE AG-REG-S 2.75000% 22-24.05.30 | 2 400 000.00 | 2 317 686.15 | 0.20 |
| EUR	SELP FINANCE SARL-REG-S 3.75000% 22-10.08.27 | 1 250 000.00 | 1 216 294.66 | 0.10 |
| EUR	TDC NET A/S-REG-S 5.05600% 22-31.05.28 | 1 130 000.00 | 1 138 489.14 | 0.10 |
| EUR	UNICAJA BANCO SA-REG-S 4.50000% 22-30.06.25 | 1 400 000.00 | 1 434 267.86 | 0.12 |
| EUR	VONOVIA SE-REG-S 1.62500% 21-01.09.51 | 900 000.00 | 516 726.97 | 0.04 |
| EUR	VONOVIA SE-REG-S 5.00000% 22-23.11.30 | 900 000.00 | 944 825.78 | 0.08 |
| EUR	WESTERN POWER DISTRIBUTION EAST-REG-S 3.94900% 22-20.09.32 | 795 000.00 | 834 237.58 | 0.07 |
| Total EUR |  | 39 868 311.21 | 3.39 |
| GBP |  |  |  |
| GBP	CHINA DEVELOPMENT BANK-REG-S 1.25000% 20-21.01.23 | 880 000.00 | 1 043 931.03 | 0.09 |
| GBP	CPI PROPERTY GROUP SA-REG-S 2.75000% 20-22.01.28 | 160 000.00 | 131 987.45 | 0.01 |
| GBP	FORD MOTOR CREDIT CO LLC 2.74800% 20-14.06.24 | 1 550 000.00 | 1 742 063.41 | 0.15 |
| GBP	LLOYDS BANKING GROUP PLC 2.25000% 17-16.10.24 | 100 000.00 | 112 654.13 | 0.01 |
| Total GBP |  | 3 030 636.02 | 0.26 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2022
|  | 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 |  |  |  |  |
| USD | EGYPT, REPUBLIC OF-REG-S 8.70020% 19-01.03.49 | 2 000 000.00 | 1 335 000.00 | 0.11 |
| USD | GC TREASURY CENTER CO LTD-REG-S 4.40000% 22-30.03.32 | 1 840 000.00 | 1 628 436.80 | 0.14 |
| USD | KAZAKHSTAN, REPUBLIC OF-REG-S 5.12500% 15-21.07.25 | 2 000 000.00 | 2 067 250.00 | 0.18 |
| USD | MEXICO, UNITED STATES OF 4.75000% 12-08.03.44 | 1 800 000.00 | 1 517 962.50 | 0.13 |
| USD | MIRVAC GROUP FINANCE LTD-REG-S 3.62500% 17-18.03.27 | 200 000.00 | 184 312.97 | 0.02 |
| USD | MONGOLIA,GOVERNMENT OF-REG-S 8.75000% 17-09.03.24 | 2 190 000.00 | 2 048 745.00 | 0.17 |
| USD | PHOENIX GROUP HOLDINGS PLC-REG-S-SUB 5.37500% 17-06.07.27 | 600 000.00 | 546 436.80 | 0.05 |
| USD | ROMANIA-REG-S 6.12500% 14-22.01.44 | 700 000.00 | 637 131.26 | 0.05 |
| USD | SAUDI ARABIAN OIL CO-REG-S 3.50000% 19-16.04.29 | 935 000.00 | 864 875.00 | 0.07 |
| Total USD |  |  | 10 830 150.33 | 0.92 |
| Total des Medium-Term Notes, taux fixe |  | 53 729 097.56 | 4.57 |
| Medium-Term Notes, taux variable |  |  |  |
| EUR |  |  |  |
| EUR	AXA SA-REG-S-SUB 3.250%/VAR 18-28.05.49 | 120 000.00 | 112 115.04 | 0.01 |
| EUR	BANCO BPM SPA-REG-S 6.000%/VAR 22-21.01.28 | 3 375 000.00 | 3 520 939.65 | 0.30 |
| EUR	BANCO DE SABADELL SA-REG-S 2.625%/VAR 22-24.03.26 | 600 000.00 | 581 045.09 | 0.05 |
| EUR	BARCLAYS PLC-REG-S 3.375%/VAR 20-02.04.25 | 540 000.00 | 550 172.89 | 0.05 |
| EUR	CREDIT SUISSE GROUP AG-REG-S 0.650%/VAR 20-14.01.28 | 900 000.00 | 691 939.01 | 0.06 |
| EUR	DEUTSCHE BANK AG-REG-S 1.000%/VAR 20-19.11.25 | 1 300 000.00 | 1 245 248.42 | 0.10 |
| EUR	DEUTSCHE BANK AG-REG-S 1.750%/VAR 20-19.11.30 | 600 000.00 | 490 059.44 | 0.04 |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S-SUB 2.625%/VAR 18-PRP | 100 000.00 | 99 991.57 | 0.01 |
| EUR	TOTAL SE-REG-S-SUB 2.625%/VAR 15-PRP | 4 260 000.00 | 4 150 299.26 | 0.35 |
| Total EUR |  | 11 441 810.37 | 0.97 |
| GBP |  |  |  |
| GBP	ELECTRICITE DE FRANCE SA-REG-S-SUB 6.000%/VAR 13-PRP | 100 000.00 | 105 692.38 | 0.01 |
| Total GBP |  | 105 692.38 | 0.01 |
| USD |  |  |  |
| USD	HSBC BANK PLC-SUB 6M LIBOR+25BP 85-PRP | 1 000 000.00 | 675 000.00 | 0.06 |
| Total USD |  | 675 000.00 | 0.06 |
| Total des Medium-Term Notes, taux variable |  | 12 222 502.75 | 1.04 |
| Obligations, taux fixe |  |  |  |
| CAD |  |  |  |
| CAD	CANADA, GOVERNMENT 2.25000% 18-01.06.29 | 3 000 000.00 | 2 119 030.76 | 0.18 |
| Total CAD |  | 2 119 030.76 | 0.18 |
| CNY |  |  |  |
| CNY	CHINA DEVELOPMENT BANK CORP 3.80000% 16-25.01.36 | 80 000 000.00 | 11 840 406.33 | 1.01 |
| Total CNY |  | 11 840 406.33 | 1.01 |
| EUR |  |  |  |
| EUR	ABBOTT IRELAND FINCING DAC-REG-S 0.87500% 18-27.09.23 | 165 000.00 | 167 469.58 | 0.01 |
| EUR	ADLER REAL ESTATE AG-REG-S 1.87500% 18-27.04.23 | 800 000.00 | 766 471.46 | 0.07 |
| EUR	ADO PROPERTIES SA-REG-S 1.50000% 17-26.07.24 | 1 500 000.00 | 1 066 181.98 | 0.09 |
| EUR	ALSTRIA OFFICE REIT-AG-REG-S 1.50000% 20-23.06.26 | 600 000.00 | 489 677.65 | 0.04 |
| EUR	AUTOSTRADE PER L’ITALIA SPA REG-S 2.00000% 21-15.01.30 | 5 480 000.00 | 4 614 553.08 | 0.39 |
| EUR	FINNAIR OYJ-REG-S 4.25000% 21-19.05.25 | 1 550 000.00 | 1 200 958.02 | 0.10 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 1.00000% 17-25.05.27 | 6 500 000.00 | 6 357 258.85 | 0.54 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.50000% 19-25.05.29 | 4 500 000.00 | 4 152 540.35 | 0.35 |
| EUR	GERMANY, REPUBLIC OF-REG-S 0.25000% 18-15.08.28 | 1 700 000.00 | 1 595 060.06 | 0.14 |
| EUR	GREECE, HELLENIC REPUBLIC OF-144A-REG-S 1.87500% 19-23.07.26 | 3 235 000.00 | 3 176 712.90 | 0.27 |
| EUR	ITALY, REPUBLIC OF-BTP-144A-REG-S 3.250% 14-01.09.46 | 9 350 000.00 | 8 720 150.12 | 0.74 |
| EUR	ITALY, REPUBLIC OF-BTP 1.60000% 16-01.06.26 | 7 200 000.00 | 7 055 142.03 | 0.60 |
| EUR	ITALY, REPUBLIC OF-BTP-144A-REG-S 2.80000% 16-01.03.67 | 1 800 000.00 | 1 430 097.36 | 0.12 |
| EUR	ITALY, REPUBLIC OF-BTP-REG-S 0.95000% 20-01.08.30 | 13 280 000.00 | 11 254 383.42 | 0.96 |
| EUR	MAPFRE SA-REG-S-SUB 2.87500% 22-13.04.30 | 1 300 000.00 | 1 128 239.62 | 0.10 |
| EUR	MPT OPERATING PARTNERSHIP LP/FIN CORP 3.32500% 17-24.03.25 | 800 000.00 | 736 982.28 | 0.06 |
| EUR	SLOVENIA, REPUBLIC OF-REG-S 1.50000% 15-25.03.35 | 6 000 000.00 | 5 027 760.36 | 0.43 |
| EUR	SLOVENIA, REPUBLIC OF-REG-S 3.12500% 15-07.08.45 | 7 000 000.00 | 6 858 632.51 | 0.58 |
| EUR	SLOVENIA, REPUBLIC OF-REG-S 0.48750% 20-20.10.50 | 8 433 000.00 | 4 328 841.99 | 0.37 |
| EUR	SPAIN, KINGDOM OF-144A-REG-S 2.15000%15-31.10.25 | 17 120 000.00 | 17 546 521.00 | 1.49 |
| EUR	SPAIN, KINGDOM OF-144A-REG-S 1.40000% 18-30.07.28 | 8 330 000.00 | 8 044 405.22 | 0.68 |
| EUR	SPAIN, KINGDOM OF-144A-REG-S 1.90000% 22-31.10.52 | 10 400 000.00 | 7 868 395.84 | 0.67 |
| EUR	SUMMER BIDCO BV-REG-S (PIK) 9.00000% 19-15.11.25 | 1 250 000.00 | 1 135 734.96 | 0.10 |
| EUR	TAURON POLSKA ENERGIA SA-REG-S 2.37500% 17-05.07.27 | 1 000 000.00 | 834 209.56 | 0.07 |
| EUR	UMG GROUPE VYV 1.62500% 19-02.07.29 | 1 100 000.00 | 967 004.03 | 0.08 |
| EUR	UNITED GROUP BV-REG-S 3.12500% 20-15.02.26 | 2 160 000.00 | 1 844 146.15 | 0.16 |
| EUR	VOLKSWAGEN INTERNATIONAL FIN NV-REG-S 1.12500% 17-02.10.23 | 200 000.00 | 202 639.65 | 0.02 |
| Total EUR |  | 108 570 170.03 | 9.23 |
| GBP |  |  |  |
| GBP	BELLIS ACQUISITION CO PLC-REG-S 3.25000% 21-16.02.26 | 1 475 000.00 | 1 428 104.53 | 0.12 |
| GBP	BERKELEY GROUP PLC/THE-REG-S 2.50000% 21-11.08.31 | 835 000.00 | 663 021.18 | 0.06 |
| GBP	BUPA FINANCE PLC-REG-S-SUB 5.00000% 13-25.04.23 | 16 000.00 | 19 022.96 | 0.00 |
| GBP	DIGNITY FINANCE PLC-REG-S 4.69560% 14-31.12.49 | 151 000.00 | 125 610.72 | 0.01 |
| GBP	JERROLD FINCO PLC-REG-S 5.25000% 21-15.01.27 | 2 315 000.00 | 2 308 931.80 | 0.20 |
| GBP	ROTHESAY LIFE PLC-REG-S-SUB 3.37500% 19-12.07.26 | 845 000.00 | 905 679.45 | 0.08 |
| GBP	SCOTTISH WIDOWS PLC-REG-S-SUB 5.50000% 13-16.06.23 | 200 000.00 | 238 180.00 | 0.02 |
| GBP	UNITED KINGDOM OF GREAT BRITAIN-REG-S 1.50000% 16-22.07.47 | 3 000 000.00 | 2 396 888.70 | 0.20 |
| GBP	UNITED KINGDOM OF GRT BRI & N IRL-REG-S 1.00000% 18-22.04.24 | 25 000 000.00 | 28 865 570.12 | 2.45 |
| GBP	UNITED KINGDOM OF GREAT BRITAIN-REG-S 0.87500% 19-22.10.29 | 7 500 000.00 | 7 661 208.56 | 0.65 |
| GBP	UNITED KINGDOM OF GREAT BRITAIN-REG-S 0.12500% 20-31.01.24 | 22 500 000.00 | 25 817 759.29 | 2.20 |
| Total GBP |  | 70 429 977.31 | 5.99 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2022
|  | 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) |  |
| MXN |  |  |  |  |
| MXN | MEXICO, UNITED MEXICAN STATES 7.75000% 11-13.11.42 | 8 291 700.00 | 36 932 700.26 | 3.14 |
| Total MXN |  | 36 932 700.26 | 3.14 |
| NZD |  |  |  |  |
| NZD | NEW ZEALAND 1.50000% 19-15.05.31 | 34 000 000.00 | 17 179 427.25 | 1.46 |
| NZD | NEW ZEALAND 1.75000% 20-15.05.41 | 5 000 000.00 | 2 094 256.03 | 0.18 |
| NZD | NEW ZEALAND 4.50000% 14-15.04.27 | 200 000.00 | 125 034.89 | 0.01 |
| NZD | NEW ZEALAND-REG-S 2.75000% 16-15.04.25 | 200 000.00 | 119 063.62 | 0.01 |
| NZD | NEW ZEALAND-REG-S 2.75000% 16-15.04.37 | 46 800 000.00 | 24 496 909.44 | 2.08 |
| NZD | NEW ZEALAND-REG-S 5.50000% 11-15.04.23 | 200 000.00 | 124 638.62 | 0.01 |
| Total NZD |  |  | 44 139 329.85 | 3.75 |
| USD |  |  |  |  |
| USD | CITIGROUP INC 3.87500% 13-25.10.23 | 600 000.00 | 595 438.11 | 0.05 |
| USD | COLOMBIA, REPUBLIC OF 6.12500% 09-18.01.41 | 1 900 000.00 | 1 491 500.00 | 0.13 |
| USD | COUNTRY GARDEN HOLDINGS CO LTD-REG-S 2.70000% 21-12.07.26 | 920 000.00 | 409 400.00 | 0.03 |
| USD | KAZAKHSTAN, REPUBLIC OF-REG-S 4.87500% 14-14-10.44 | 1 200 000.00 | 1 066 200.00 | 0.09 |
| USD | MEXICO CITY AIRPORT TRUST-REG-S 5.50000% 17-31.07.47 | 650 000.00 | 477 750.00 | 0.04 |
| USD | PACIFIC GAS & ELECTRIC CO 2.10000% 20-01.08.27 | 535 000.00 | 455 224.80 | 0.04 |
| USD | PACIFIC GAS & ELECTRIC CO 2.50000% 20-01.02.31 | 415 000.00 | 325 453.72 | 0.03 |
| USD | PERU, REPUBLIC OF 2.78300% 20-23.01.31 | 3 320 000.00 | 2 805 400.00 | 0.24 |
| USD | PETROLEOS DE VENEZUE-REG-S *DEFAULTED* 6.00000% 14-16.05.24 | 600 000.00 | 25 500.00 | 0.00 |
| USD | PHILLIPS 66 4.65000% 14-15.11.34 | 250 000.00 | 236 768.89 | 0.02 |
| USD | REYNOLDS AMERICAN INC 4.45000% 15-12.06.25 | 150 000.00 | 147 300.29 | 0.01 |
| USD | SOUTHERN CALIFORNIA EDISON CO 2.85000% 19-01.08.29 | 500 000.00 | 437 299.88 | 0.04 |
| USD | SUNAC CHINA HOLDINGS-REG-S *DEFAULTED* 6.50000% 20-10.01.25 | 910 000.00 | 98 962.50 | 0.01 |
| USD | TURKEY, REPUBLIC OF 6.62500% 14-17.02.45 | 700 000.00 | 532 000.00 | 0.05 |
| Total USD |  |  | 9 104 198.19 | 0.78 |
| Total des Obligations, taux fixe |  | 283 135 812.73 | 24.08 |
| Obligations, coupon zéro |  |  |  |
| EUR |  |  |  |
| EUR	GERMANY, REPUBLIC OF-REG-S 0.00000% 21-15.08.50 | 4 167 000.00 | 2 660 708.31 | 0.23 |
| Total EUR |  | 2 660 708.31 | 0.23 |
| Total des Obligations, coupon zéro |  | 2 660 708.31 | 0.23 |
| Obligations, taux variable |  |  |  |
| EUR |  |  |  |
| EUR	ABANCA CORP BANCARIA SA-REG-S-SUB 6.125%/VAR 19-18.01.29 | 1 700 000.00 | 1 727 737.25 | 0.15 |
| EUR	AG INSURANCE SA/NV-REG-S-SUB 3.500%/VAR 15-30.06.47 | 300 000.00 | 280 198.66 | 0.02 |
| EUR	BANCO DE CREDITO SOCIAL-REG-S 8.000%/VAR 22-22.09.26 | 2 800 000.00 | 2 916 612.94 | 0.25 |
| EUR	BP CAPITAL MARKETS PLC-REG-S 3.250%/VAR 20-PRP | 490 000.00 | 464 166.22 | 0.04 |
| EUR	BP CAPITAL MARKETS PLC-REG-S-SUB 3.625%/VAR 20-PRP | 390 000.00 | 345 003.28 | 0.03 |
| EUR	ELM BV-REG-S-SUB 2.600%/VAR 15-PRP | 290 000.00 | 276 902.34 | 0.02 |
| EUR	HOLCIM FINANCE LUXEMBOURG SA-REG-S-SUB 3.000%/VAR 19-PRP | 200 000.00 | 197 698.84 | 0.02 |
| EUR	RABOBANK NEDERLAND NV-REG-S-SUB 3.250%/VAR 19-PRP | 1 000 000.00 | 888 073.13 | 0.08 |
| EUR	SES SA-REG-S-SUB 2.875%/VAR 21-PRP | 3 585 000.00 | 2 949 714.04 | 0.25 |
| EUR	UNIBAIL-RODAMCO SE-REG-S-SUB 2.125%/VAR 18-PRP | 200 000.00 | 177 120.39 | 0.01 |
| Total EUR |  | 10 223 227.09 | 0.87 |
| GBP |  |  |  |
| GBP	BARCLAYS PLC-REG-S-SUB 7.250%/VAR 17-PRP | 200 000.00 | 236 691.38 | 0.02 |
| GBP	M&G PLC-REG-S-SUB 5.625%/VAR 18-20.10.51 | 950 000.00 | 1 040 020.71 | 0.09 |
| GBP	SANTANDER UK GROUP HOLD PLC-REG-S-SUB 6.750%/VAR 17-PRP | 200 000.00 | 231 369.95 | 0.02 |
| Total GBP |  | 1 508 082.04 | 0.13 |
| NZD |  |  |  |
| NZD	NEW ZEALAND-REG-S 2.500%/CPI LINKED 14-20.09.35 | 4 000 000.00 | 3 041 402.48 | 0.26 |
| Total NZD |  | 3 041 402.48 | 0.26 |
| USD |  |  |  |
| USD	CREDIT SUISSE GROUP AG-REG-S-SUB 7.500%/VAR 18-PRP | 2 880 000.00 | 2 231 424.00 | 0.19 |
| USD	QBE INSURANCE GROUP LTD-REG-S-SUB 6.750%/VAR 14-02.12.44 | 380 000.00 | 362 482.00 | 0.03 |
| USD	SCOR SE-REG-S-SUB 5.250%/VAR 18-PRP | 400 000.00 | 297 977.60 | 0.03 |
| USD	WESTPAC BANKING CORP-SUB 5.000%/VAR 17-PRP | 200 000.00 | 167 184.80 | 0.01 |
| Total USD |  | 3 059 068.40 | 0.26 |
| Total des Obligations, taux variable |  | 17 831 780.01 | 1.52 |
| Bons du Trésor à moyen terme, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 3.12500% 14-15.08.44 | 9 700 000.00 | 8 383 300.76 | 0.71 |
| USD	AMERICA, UNITED STATES OF 3.00000% 17-15.05.47 | 12 000 000.00 | 10 087 968.72 | 0.86 |
| USD	AMERICA, UNITED STATES OF 2.87500% 19-15.05.49 | 26 000 000.00 | 21 546 484.44 | 1.83 |
| USD	AMERICA, UNITED STATES OF 2.87500% 18-30.04.25 | 15 000 000.00 | 14 534 179.65 | 1.24 |
| USD	AMERICA, UNITED STATES OF 2.00000% 13-15.02.23 | 30 000 000.00 | 29 855 237.10 | 2.54 |
| USD	AMERICA, UNITED STATES OF 1.62500% 19-30.11.26 | 40 000 000.00 | 36 592 187.60 | 3.11 |
| USD	AMERICA, UNITED STATES OF 0.62500% 20-15.05.30 | 17 000 000.00 | 13 663 750.00 | 1.16 |
| USD	AMERICA, UNITED STATES OF 0.50000% 20-30.06.27 | 39 500 000.00 | 33 953 027.25 | 2.89 |
| USD	AMERICA, UNITED STATES OF 0.62500% 20-15.08.30 | 12 425 000.00 | 9 925 439.39 | 0.84 |
| USD	AMERICA, UNITED STATES OF 0.50000% 20-31.08.27 | 20 000 000.00 | 17 104 687.59 | 1.45 |
| USD	AMERICA, UNITED STATES OF 0.12500% 21-30.04.23 | 25 000 000.00 | 24 534 179.75 | 2.09 |
| USD	AMERICA, UNITED STATES OF 1.37500% 21-31.10.28 | 40 000 000.00 | 34 868 750.00 | 2.97 |
| USD	AMERICA, UNITED STATES OF TB 1.75000% 22-15.03.25 | 10 500 000.00 | 9 932 753.88 | 0.85 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 22-15.04.27 | 76 350 000.00 | 75 627 632.45 | 6.43 |
| USD	AMERICA, UNITED STATES OF 2.75000% 22-15.08.32 | 5 375 000.00 | 4 978 593.75 | 0.42 |
| Total USD |  | 345 588 172.33 | 29.39 |
| Total des Bons du Trésor à moyen terme, taux fixe |  | 345 588 172.33 | 29.39 |
| UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2022 |  |  |  |

|  | 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) |  |
| Bons du | Trésor à moyen terme, taux variable |  |  |  |
| BRL |  |  |  |  |
| BRL | BRAZIL, FEDERATIVE REPUBLIC OF 6.000%/IPCA LINKD 10-15.08.50 | 1 050.00 | 788 015.07 | 0.06 |
| Total BRL |  |  | 788 015.07 | 0.06 |
| USD |  |  |  |  |
| USD | AMERICA, UNITED STATES OF 0.750%/CPI LINKED 15-15.02.45 | 59 900 000.00 | 63 120 942.93 | 5.37 |
| Total USD |  |  | 63 120 942.93 | 5.37 |
| Total des Bons du Trésor à moyen terme, taux variable |  | 63 908 958.00 | 5.43 |
| Total des Titres et instruments du marché monétaire négociés sur une bourse officielle |  | 903 791 768.83 | 76.86 |
| Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  |  |  |
| Titres adossés à des actifs, taux fixe |  |  |  |
| USD |  |  |  |
| USD	DRIVE AUTO RECEIVABLES TRUST 4.30000% 18-15.04.26 | 1 000 000.00 | 528 439.03 | 0.05 |
| USD	DT AUTO OWNER TRUST-144A 4.19000% 18-15.07.24 | 1 000 000.00 | 26 694.23 | 0.00 |
| Total USD |  | 555 133.26 | 0.05 |
| Total des Titres adossés à des actifs, taux fixe |  | 555 133.26 | 0.05 |
| Titres adossés à des actifs, taux variable |  |  |  |
| USD |  |  |  |
| USD	SOFI PROFESSIONA LOAN PROGRAM LLC-144A VAR 17-26.03.40 | 850 000.00 | 751 355.12 | 0.06 |
| Total USD |  | 751 355.12 | 0.06 |
| Total des Titres adossés à des actifs, taux variable |  | 751 355.12 | 0.06 |
| Titres adossés à des hypothèques, taux fixe |  |  |  |
| USD |  |  |  |
| USD	BANK 2018-BNK14-SUB 4.23100% 18-01.09.60 | 900 000.00 | 855 135.63 | 0.07 |
| USD	BANK BNK-SUB 4.40700% 18-01.11.61 | 1 850 000.00 | 1 777 536.98 | 0.15 |
| USD	BENCHMARK MORTGAGE TRUST 3.94360% 18-01.07.51 | 1 350 000.00 | 1 267 593.30 | 0.11 |
| USD	BENCHMARK MORTGAGE TRUST 4.44100% 18-01.10.51 | 1 500 000.00 | 1 396 908.45 | 0.12 |
| USD	BENCHMARK MORTGAGE TRUST-SUB 4.51000% 18-01.05.53 | 2 000 000.00 | 1 931 717.40 | 0.16 |
| USD	BENCHMARK MORTGAGE TRUST-SUB 3.97900% 19-01.03.62 | 1 350 000.00 | 1 215 762.75 | 0.10 |
| USD	BWAY 2013-1515 MORTGAGE TRUST-144A 3.44620% 21-10.03.33 | 1 300 000.00 | 1 160 302.65 | 0.10 |
| USD	CITIGROUP COMMERCIAL MORTGAGE TRUST 3.96300% 18-01.06.51 | 1 000 000.00 | 656 722.20 | 0.06 |
| USD	CITIGROUP COMMERCIAL MORTGAGE TRUST 4.22800% 18-01.06.51 | 2 775 000.00 | 2 632 648.61 | 0.22 |
| USD	CITIGROUP COMMERCIAL MORTGAGE 3.36600% 16-01.11.49 | 1 500 000.00 | 1 347 201.45 | 0.11 |
| USD	COMM 2015-CCRE22 MORTGAGE TRUST 3.92600% 15-01.03.48 | 2 000 000.00 | 1 860 289.00 | 0.16 |
| USD	COMM MORTGAGE TRUST-SUB 4.22800% 18-01.05.51 | 2 500 000.00 | 2 364 437.50 | 0.20 |
| USD	CSAIL COMMERCIAL MORTGAGE TRUST-SUB 4.42160% 18-01.11.51 | 1 490 000.00 | 1 406 127.30 | 0.12 |
| USD	HUDSON YARDS 2016-10HY MORTGAGE-144A 2.83500% 16-01.08.38 | 2 950 000.00 | 2 635 455.66 | 0.22 |
| USD	JPMDB COMMERCIAL MORTGAGE TRT 4.42100% 18-01.06.51 | 1 150 000.00 | 1 056 631.96 | 0.09 |
| USD	MORGAN STANLEY BOA MERR LYH TRT 15-C24 3.73200% 15-01.05.48 | 800 000.00 | 760 695.84 | 0.07 |
| USD	MORGAN STANLEY CAPITAL INC-SUB 3.33000% 17-01.12.50 | 450 000.00 | 413 667.45 | 0.04 |
| USD	MORGAN STANLEY CAPITAL I TRUST-SUB 4.31000% 18-01.12.51 | 1 355 000.00 | 1 283 604.38 | 0.11 |
| USD	MSBAM LYNCH TRUST-SUB 3.99400% 16-01.12.49 | 600 000.00 | 553 158.06 | 0.05 |
| USD	WELLS FARGO COMMERCIAL MORTGAGE TRUST 4.21200% 18-01.05.51 | 1 400 000.00 | 1 328 975.48 | 0.11 |
| Total USD |  | 27 904 572.05 | 2.37 |
| Total des Titres adossés à des hypothèques, taux fixe |  | 27 904 572.05 | 2.37 |
| Titres adossés à des hypothèques, taux variable |  |  |  |
| USD |  |  |  |
| USD	AVENTURA MALL TRUST-144A FLR 18-01.07.40 | 2 060 000.00 | 1 853 509.72 | 0.16 |
| USD	BAMLL COMMERCIAL MORT SET-144A 1M LIBOR+135BP 18-15.09.34 | 1 575 000.00 | 1 495 670.56 | 0.13 |
| USD	BAMLL COMMERCIAL MORTGAGE-144A VAR 15-01.04.33 | 2 650 000.00 | 2 337 389.57 | 0.20 |
| USD	BANK 2017-BNK9 VAR 17-01.11.54 | 1 500 000.00 | 1 355 158.20 | 0.12 |
| USD	BANK-SUB FLR 18-01.02.61 | 895 000.00 | 756 012.49 | 0.05 |
| USD	BBCMS TRUST CBM-144A 1M LIBOR+119.1098BP 18-15.07.37 | 1 650 000.00 | 1 565 104.37 | 0.13 |
| USD	BENCHMARK MORTGAGE TRUST-SUB FLR 18-01.10.51 | 1 950 000.00 | 1 663 585.17 | 0.14 |
| USD	BENCHMARK MORTGAGE TRUST FLR 18-01.01.52 | 2 000 000.00 | 1 852 846.80 | 0.16 |
| USD	BX TRUST-144A 1M LIBOR+80BP 18-15.05.35 | 1 300 000.00 | 1 259 139.31 | 0.11 |
| USD	BX TRUST-144A 1M LIBOR+122BP 18-15.05.35 | 2 000 000.00 | 1 909 509.20 | 0.16 |
| USD	CAMB COMM MORTGAGE TRUST-144A-SUB 1M LIBOR+145BP 19-15.12.37 | 500 000.00 | 481 192.55 | 0.04 |
| USD	CAMB COMM MORTGAGE TRUST-144A-SUB 1M LIBOR+175BP 19-15.12.37 | 1 620 000.00 | 1 555 005.76 | 0.13 |
| USD	CD MORTGAGE TRUST FLR 17-01.11.50 | 2 220 000.00 | 2 004 146.51 | 0.17 |
| USD	CSAIL 2015-C4 COMMERCIAL MORTGAGE TRUST-SUB VAR 15-01.11.48 | 500 000.00 | 448 791.65 | 0.04 |
| USD	GS MORTGAGE SECURITIES CORP II 4.155%/VAR 18-01.07.51 | 330 000.00 | 311 736.11 | 0.03 |
| USD	GS MORTGAGE SECURITIES TRUST-144A VAR 17-01.01.43 | 1 950 000.00 | 1 724 703.05 | 0.15 |
| USD	JP MORGAN CHASE MORTGAGE SECURITIES-144A-SUB FLR 18-01.01.31 | 2 045 000.00 | 2 028 257.17 | 0.17 |
| USD	JP MORGAN CHASE MORTGAGE SECURITIES-144A-SUB FLR 18-01.01.31 | 2 000 000.00 | 1 977 324.80 | 0.17 |
| USD	JPMCC COMMERCIAL MORTGAGE SEC TRUST VAR 17-01.09.50 | 3 200 000.00 | 2 644 785.92 | 0.21 |
| USD	MAD MORTGAGE TRUST-144A 2.975%/VAR 17-01.08.34 | 1 500 000.00 | 1 396 153.05 | 0.12 |
| USD	MAD MORTGAGE TRUST-144A 3.478%/VAR 17-01.08.34 | 1 500 000.00 | 1 378 130.10 | 0.12 |
| USD	MAD MORTGAGE TRUST-144A 3.599%/VAR 17-01.08.34 | 1 000 000.00 | 897 546.50 | 0.08 |
| USD	WELLS FARGO COMMERCIAL MORTGAGE FLR 17-01.12.50 | 1 400 000.00 | 1 252 490.26 | 0.11 |
| Total USD |  | 34 148 188.82 | 2.90 |
| Total des Titres adossés à des hypothèques, taux variable |  | 34 148 188.82 | 2.90 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2022
| 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) |  |

Billets, taux fixe
| USD |  |
| --- | --- |
| USD | AKER BP ASA-144A 3.00000% 20-15.01.25 | 565 000.00 | 534 584.94 | 0.05 |
| USD | AKER BP ASA-144A 4.00000% 20-15.01.31 | 525 000.00 | 466 273.11 | 0.04 |
| USD | AVOLON HOLDINGS FUNDING LTD-144A 2.12500% 21-21.02.26 | 730 000.00 | 622 076.80 | 0.05 |
| USD | BRAZIL MINAS SPE-REG-S 5.33300% 13-15.02.28 | 200 000.00 | 115 560.00 | 0.01 |
| USD | CAMERON LNG LLC-144A 3.30200% 19-15.01.35 | 340 000.00 | 281 010.04 | 0.02 |
| USD | COLONIAL ENTERPRISES INC-144A 3.25000% 20-15.05.30 | 470 000.00 | 411 402.88 | 0.03 |
| USD | INFOR INC-144A 1.75000% 20-15.07.25 | 355 000.00 | 322 249.26 | 0.03 |
| USD | LUNDIN ENERGY FINANCE BV-144A 2.00000% 21-15.07.26 | 365 000.00 | 321 348.17 | 0.03 |
| USD | LUNDIN ENERGY FINANCE BV-144A 3.10000% 21-15.07.31 | 375 000.00 | 309 017.25 | 0.03 |
| USD | SOUTHWESTERN ELECTRIC POWER 6.20000% 10-15.03.40 | 150 000.00 | 153 302.35 | 0.01 |
| USD | TECK RESOURCES LTD 3.90000% 20-15.07.30 | 530 000.00 | 476 482.06 | 0.04 |
| USD | TRITON CONTAINER INTERNATIONAL LTD-144A 2.05000% 21-15.04.26 | 920 000.00 | 793 868.00 | 0.07 |
| Total USD |  |  | 4 807 174.86 | 0.41 |
| Total des Billets, taux fixe |  | 4 807 174.86 | 0.41 |
| Medium-Term Notes, taux fixe |  |  |  |
| AUD |  |  |  |
| AUD	AURIZON FINANCE PTY LTD 3.00000% 21-09.03.28 | 2 160 000.00 | 1 212 745.80 | 0.10 |
| Total AUD |  | 1 212 745.80 | 0.10 |
| Total des Medium-Term Notes, taux fixe |  | 1 212 745.80 | 0.10 |
| Medium-Term Notes, taux variable |  |  |  |
| AUD |  |  |  |
| AUD	NATIONAL AUSTRALIA BANK-SUB 6.322%/VAR 22-03.08.32	1 760 000.00 | 1 193 134.31 | 0.10 |
| Total AUD | 1 193 134.31 | 0.10 |
| USD |  |  |  |  |
| USD | INTESA SANPAOLO SPA-144A-SUB 7.700%/VAR 15-PRP | 1 500 000.00 | 1 382 558.88 | 0.12 |
| Total USD |  |  | 1 382 558.88 | 0.12 |
| Total des Medium-Term Notes, taux variable |  | 2 575 693.19 | 0.22 |
| Obligations, taux fixe |  |  |  |
| RUB |  |  |  |
| RUB	RUSSIA, FEDERATION OF 7.65000% 19-10.04.30 | 1 900 000 000.00 | 12 791 461.45 | 1.09 |
| Total RUB |  | 12 791 461.45 | 1.09 |
| USD |  |  |  |
| USD	FIVE CORNERS FUNDING TRUST-144A 4.41900% 13-15.11.23 | 200 000.00 | 198 065.84 | 0.02 |
| Total USD |  | 198 065.84 | 0.02 |
| Total des Obligations, taux fixe |  | 12 989 527.29 | 1.11 |
| Obligations, taux variable |  |  |  |
| NZD |  |  |  |
| NZD	NEW ZEALAND 2.500%/CPI LINKED 17-20.09.40 | 85 650 000.00 | 64 443 638.22 | 5.48 |
| NZD	NEW ZEALAND 3.000%/CPI LINKED 13-20.09.30 | 42 000 000.00 | 33 655 893.51 | 2.86 |
| Total NZD |  | 98 099 531.73 | 8.34 |
| USD |  |  |  |
| USD	SCENTRE GROUP TRUST 2-REG-S-SUB 4.750%/VAR 20-24.09.80 | 650 000.00 | 572 202.08 | 0.05 |
| Total USD |  | 572 202.08 | 0.05 |
| Total des Obligations, taux variable |  | 98 671 733.81 | 8.39 |
| Total des Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  | 183 616 124.20 | 15.61 |

Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé
Titres adossés à des hypothèques, taux fixe
| USD |  |
| --- | --- |
| USD | DBGS 2018-BIOD MORTGAGE TRUST-SUB 4.76400% 18-01.10.51 | 1 300 000.00 | 1 217 200.66 | 0.10 |
| Total USD |  |  | 1 217 200.66 | 0.10 |
| Total des Titres adossés à des hypothèques, taux fixe |  | 1 217 200.66 | 0.10 |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	VISTRA OPERATIONS CO LLC-144A 5.12500% 22-13.05.25 | 1 535 000.00 | 1 495 271.66 | 0.13 |
| Total USD |  | 1 495 271.66 | 0.13 |
| Total des Billets, taux fixe |  | 1 495 271.66 | 0.13 |
| Total des Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé |  | 2 712 472.32 | 0.23 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2022
| 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	ENEL FINANCE INTERNATIONAL NV-144A 6.80000% 22-14.10.25 | 1 280 000.00 | 1 325 466.48 | 0.11 |
| Total USD |  | 1 325 466.48 | 0.11 |
| Total des Billets, taux fixe |  | 1 325 466.48 | 0.11 |
| Total des Nouvelles émissions de titres et instruments du marché monétaire |  | 1 325 466.48 | 0.11 |

OPCVM/Autres OPC au sens de l’article 41 (1) e) de la loi luxembourgeoise du 17 décembre 2010, telle que modifiée
Fonds d’investissement, ouvert
| Irlande |  |
| --- | --- |
| EUR | ISHARES EURO HIGH YIELD CORPORATE BOND UCITS ETF EUR | 1 000.00 | 92 781.76 | 0.01 |
| Total Irlande |  | 92 781.76 | 0.01 |
| Luxembourg |  |  |  |
| EUR	UBS (LUX) BOND FUND - EURO HIGH YIELD (EUR) I-X-ACC | 500.00 | 68 389.35 | 0.00 |
| USD	UBS (LUX) BOND SICAV - ASIAN HIGH YIELD (USD) I-X-DIST | 378 000.00 | 18 658 080.00 | 1.59 |
| USD	UBS (LUX) BOND SICAV - MULTI INCOME (USD)-U-X-ACC- CAP | 400.00 | 3 871 780.00 | 0.33 |
| USD	UBS (LUX) BOND SICAV - CHINA HIGH YIELD (USD) U-X-ACC | 2 400.00 | 10 545 144.00 | 0.90 |
| Total Luxembourg |  | 33 143 393.35 | 2.82 |
| Total des Fonds d’investissement, ouvert |  | 33 236 175.11 | 2.83 |
| Total des OPCVM/Autres OPC au sens de l’article 41 (1) e) de la loi luxembourgeoise du 17 décembre 2010, telle que modifiée | 33 236 175.11 | 2.83 |
| Total du Portefeuille-titres |  | 1 124 682 006.94 | 95.64 |

| Instruments dérivés |  |
| --- | --- |
| Instruments dérivés négociés sur une bourse officielle |
| Contrats financiers à terme sur obligations |
|  |  |  |
| EUR	EURO BTP ITALY GOVERNMENT FUTURE 08.12.22	-322.00 | -805 371.64 | -0.07 |
| EUR	EURO-BUND FUTURE 08.12.22	55.00 | 44 552.96 | 0.00 |
| EUR	EURO-BOBL FUTURE 08.12.22	-580.00 | 1 588 544.02 | 0.14 |
| EUR	EURO-SCHATZ FUTURE 08.12.22	-734.00 | 997 607.29 | 0.08 |
| EUR	EURO-BUXL FUTURE 08.12.22	-203.00 | 115 444.36 | 0.01 |
| GBP	LONG GILT FUTURE 29.03.23	30.00 | -30 725.22 | 0.00 |
| JPY	JAPAN GOVERNMENT 10Y BOND (OSE) FUTURE 13.12.22	-156.00 | -247 384.26 | -0.02 |
| AUD	AUSTRALIA 3YR BOND FUTURE 15.12.22	-1 540.00 | -39 326.39 | 0.00 |
| USD	US ULTRA LONG BOND (CBT) FUTURE 22.03.23	-93.00 | 93 000.00 | 0.01 |
| USD	US 10YR ULTRA NOTE FUTURE 22.03.23	-574.00 | -134 531.25 | -0.01 |
| USD	US 10YR TREASURY NOTE FUTURE 22.03.23	-860.00 | -342 655.82 | -0.03 |
| USD	US 2YR TREASURY NOTE FUTURE 31.03.23	-429.00 | -194 391.05 | -0.02 |
| USD	US 5YR TREASURY NOTE FUTURE 31.03.23	-646.00 | -257 390.95 | -0.02 |
| USD	US LONG BOND FUTURE 22.03.23	560.00 | -192 500.00 | -0.02 |
| CAD	CAN 10YR BOND FUTURE 22.03.23	-2 019.00 | 115 202.48 | 0.01 |
| Total des Contrats financiers à terme sur obligations | 710 074.53 | 0.06 |
| Total des Instruments dérivés négociés sur une bourse officielle | 710 074.53 | 0.06 |
| Instruments dérivés non négociés sur une bourse officielle ou sur un autre marché réglementé |  |  |
| Swaps et Swaps à terme sur taux d’intérêt |  |  |
|  |  |  |
| USD	LCH/INTEREST RATE SWAP PAYER 2.29200% 20-03.02.25	-8 000 000.00 USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 20-03.02.25 | 344 362.22 | 0.03 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.56500% 15-10.11.45	-2 500 000.00 USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 15-10.11.45 | 387 350.87 | 0.03 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.60800% 15-19.11.45	-2 400 000.00 USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 15-19.11.45 | 354 375.27 | 0.03 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.12350% 16-18.04.46	-2 000 000.00 USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 16-18.04.46 | 454 376.96 | 0.04 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.39400% 17-23.03.27	-4 600 000.00 USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 17-23.03.27 | 288 502.32 | 0.02 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.34600% 17-07.04.27	-5 000 000.00 USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 17-07.04.27 | 322 479.22 | 0.03 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.57230% 17-01.08.47	-1 800 000.00 USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 17-01.08.47 | 267 690.08 | 0.02 |
| USD	LCH/INTEREST RATE SWAP PAYER 2.24850% 17-02.08.27	-4 300 000.00 USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 17-02.08.27 | 282 035.67 | 0.02 |
| USD	LCH/INTEREST RATE SWAP PAYER 1.29910% 20-03.03.50	-5 800 000.00 USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 20-03.03.50 | 2 235 610.98 | 0.19 |
| PLN	LCH/INTEREST RATE SWAP PAYER 2.11600% 20-23.01.30	-142 000 000.00 PLN	LCH/INTEREST RATE SWAP REC 6MWIB 20-23.01.30 | 6 720 598.29 | 0.57 |
| PLN	LCH/INTEREST RATE SWAP PAYER 1.91900% 20-10.02.30	-155 000 000.00 PLN	LCH/INTEREST RATE SWAP REC 6MWIB 20-10.02.30 | 7 737 433.20 | 0.66 |
| PLN	LCH/INTEREST RATE SWAP PAYER 0.85750% 20-23.07.30	-87 000 000.00 PLN	LCH/INTEREST RATE SWAP REC 6MWIB 20-23.07.30 | 6 064 721.51 | 0.52 |
| GBP	LCH/INTEREST RATE SWAP PAYER 0.34200% 20-10.09.50	-10 000.00 GBP	LCH/INTEREST RATE SWAP REC SONIA O/N 20-10.09.50 | 5 855.68 | 0.00 |
| GBP	LCH/INTEREST RATE SWAP PAYER 0.13510% 20-16.09.30	-100 000.00 GBP	LCH/INTEREST RATE SWAP REC SONIA O/N 20-16.09.30 | 27 366.03 | 0.00 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2022
|  | Dénomination | Nombre/ Nominal | Evaluation en USD Bénéfice/(perte) non réalisé(e) sur futures/ Contrats de change à terme/ Swaps (note 1) | en % de l’actif net |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.20750% 19-27.09.29 | -35 900 000.00 | 4 309 102.33 | 0.37 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 19-27.09.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.67500% 24-30.10.29 | -32 000 000.00 | 1 998 962.43 | 0.17 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 24-30.10.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.58300% 24-24.09.29 | -54 000 000.00 | 3 530 439.65 | 0.30 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 24-24.09.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.47300% 24-15.10.29 | -55 000 000.00 | 3 733 051.91 | 0.32 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 24-15.10.29 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP PAYER 2.80500% 21-02.04.26 | -755 000 000.00 | -712 165.63 | -0.06 |
| CNY | CITI/INTEREST RATE SWAP REC CNRR007 21-02.04.26 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAYER 1.72500% 21-17.06.31 | -84 500 000.00 | 5 373 305.01 | 0.46 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 21-17.06.31 |  |  |  |
| USD | LCH/INTEREST RATE SWAP PAYER 1.82280% 21-29.10.51 | -11 900 000.00 | 3 495 530.09 | 0.30 |
| USD | LCH/INTEREST RATE SWAP REC 3M LIBOR 21-29.10.51 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAYER 3.79250% 22-17.01.32 | -61 500 000.00 | 1 758 061.59 | 0.15 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 22-17.01.32 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAYER 3.86400% 22-19.01.32 | -61 000 000.00 | 1 669 144.64 | 0.14 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 22-19.01.32 |  |  |  |
| KRW | JPMORGAN/INTEREST RATE SWAP PAYER 2.15900% 22-25.01.32 | -42 300 000 000.00 | 3 280 374.31 | 0.28 |
| KRW | JPMORGAN/INTEREST RATE SWAP REC 3MKWCD 22-25.01.32 |  |  |  |
| USD | LCH/INTEREST RATE SWAP PAYER 3.46108% 22-08.11.52 | -1 300 000.00 | -90 897.28 | -0.01 |
| USD | LCH/INTEREST RATE SWAP REC 3ML 22-08.11.52 |  |  |  |
| INR | MORGAN STANLEY/INTEREST RATE SWAP PAYER 6.34900% 22-28.11.27 | -1 955 000 000.00 | -14 773.61 | 0.00 |
| INR | MORGAN STANLEY/INTEREST RATE SWAP REC O/N MIBOR 22-28.11.27 |  |  |  |
| NZD | BC/INTEREST RATE SWAP REC 5.14300% 14-17.02.24 | 2 100 000.00 | 16 390.74 | 0.00 |
| NZD | BC/INTEREST RATE SWAP PAYERER 3ML 14-17.02.24 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 3.02250% 19-02.04.24 | 105 000 000.00 | 158 365.45 | 0.01 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 19-02.04.24 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.94000% 19-19.09.24 | 75 000 000.00 | 120 742.13 | 0.01 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 19-19.09.24 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.96250% 19-21.10.24 | 140 000 000.00 | 214 397.69 | 0.02 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 19-21.10.24 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 3.15750% 19-30.10.24 | 111 000 000.00 | 226 282.77 | 0.02 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 19-30.10.24 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.92500% 20-16.01.25 | 114 000 000.00 | 171 786.42 | 0.01 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 20-16.01.25 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 2.23500% 20-10.06.25 | 110 000 000.00 | -97 684.01 | -0.01 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 20-10.06.25 |  |  |  |
| NZD | BARCLAYS/INTEREST RATE SWAP REC 5.20000% 13-09.12.23 | 1 200 000.00 | 12 412.04 | 0.00 |
| NZD | BARCLAYS/INTEREST RATE SWAP PAYER 3MFRA 13-09.12.23 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP REC 1.22000% 19-21.11.24 | 42 500 000.00 | -1 936 643.42 | -0.16 |
| NZD | LCH/INTEREST RATE SWAP PAYER 3MFRA 19-21.11.24 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 6.28000% 16-23.07.26 | 95 000 000.00 | -405 292.60 | -0.03 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 16-23.07.26 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 8.20500% 19-20.04.29 | 160 000 000.00 | -171 120.99 | -0.01 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 19-20.04.29 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 6.68000% 19-26.09.29 | 150 000 000.00 | -766 471.92 | -0.07 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 19-26.09.29 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 6.84250% 20-09.01.30 | 320 000 000.00 | -1 552 071.35 | -0.13 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 20-09.01.30 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 6.53600% 20-14.02.30 | 245 000 000.00 | -1 396 483.09 | -0.12 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 20-14.02.30 |  |  |  |
| CNY | HSBC/INTEREST RATE SWAP REC 2.87250% 19-16.07.24 | 90 000 000.00 | 112 001.20 | 0.01 |
| CNY | HSBC/INTEREST RATE SWAP PAYER CNRR007 19-16.07.24 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP REC 1.32000% 21-22.06.26 | 119 000 000.00 | -8 239 287.83 | -0.70 |
| NZD | LCH/INTEREST RATE SWAP PAYER 3MFRA 21-22.06.26 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 2.59600% 21-10.08.26 | 17 900 000 000.00 | -10 859 486.24 | -0.92 |
| HUF | LCH/INTEREST RATE SWAP PAYER 6ML 21-10.08.26 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 2.83500% 21-17.09.26 | 8 870 000 000.00 | -5 082 197.72 | -0.43 |
| HUF | LCH/INTEREST RATE SWAP PAYER 6ML 21-17.09.26 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 7.50000% 21-22.09.31 | 477 000 000.00 | -1 658 429.18 | -0.14 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 21-22.09.31 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 7.44000% 21-16.10.26 | 660 000 000.00 | -1 592 635.66 | -0.14 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 21-16.10.26 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 7.49250% 21-19.10.26 | 660 000 000.00 | -1 523 564.62 | -0.13 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 21-19.10.26 |  |  |  |
| CZK | CITI/INTEREST RATE SWAP REC 3.43000% 21-16.12.26 | 500 000 000.00 | -1 077 086.86 | -0.09 |
| CZK | CG/INTEREST RATE SWAP PAYER PRIBOR 6M 21-16.12.26 |  |  |  |
| ZAR | LCH/INTEREST RATE SWAP REC 7.67000% 22-06.01.32 | 223 000 000.00 | -957 193.80 | -0.08 |
| ZAR | LCH/INTEREST RATE SWAP PAYER 3MZAR 22-06.01.32 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 4.82000% 22-17.01.27 | 9 050 000 000.00 | -3 487 811.58 | -0.30 |
| HUF | LCH/INTEREST RATE SWAP PAYER 6MHUF 22-17.01.27 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 4.95100% 22-19.01.27 | 9 050 000 000.00 | -3 370 882.92 | -0.29 |
| HUF | LCH/INTEREST RATE SWAP PAYER 6MHUF 22-19.01.27 |  |  |  |
| KRW | JPMORGAN/INTEREST RATE SWAP REC 2.02000% 22-25.01.24 | 90 000 000 000.00 | -1 665 250.91 | -0.14 |
| KRW | JPMORGAN/INTEREST RATE SWAP PAYER 3MKWCD 22-25.01.24 |  |  |  |
| KRW | JPMORGAN/INTEREST RATE SWAP REC 2.02000% 22-25.01.24 | 90 000 000 000.00 | -1 665 250.91 | -0.14 |
| KRW | JPMORGAN/INTEREST RATE SWAP PAYER 3MKWCD 22-25.01.24 |  |  |  |
| KRW | JPMORGAN/INTEREST RATE SWAP REC 2.02000% 22-25.01.24 | 39 000 000 000.00 | -721 608.73 | -0.06 |
| KRW | JPMORGAN/INTEREST RATE SWAP PAYER 3MKWCD 22-25.01.24 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP REC 4.60500% 22-29.11.27 | 32 000 000.00 | 58 651.43 | 0.00 |
| NZD | LCH/INTEREST RATE SWAP PAYER 3MFRA 22-29.11.27 |  |  |  |
| Total des Swaps et Swaps à terme sur taux d’intérêt |  | 6 687 469.27 | 0.57 |
| Credit Default Swaps* |  |  |  |
|  |  |  |  |
| USD	BOA/MEX CREDIT DEFAULT SWAP PAY 1.00000% 19-20.06.24 | -8 750 000.00 | -77 753.57 | -0.01 |
| USD	BOA/TURKEY CREDIT DEFAULT SWAP REC 1.00000% 19-20.06.24 | 8 750 000.00 | -398 525.56 | -0.03 |
| Total des Credit Default Swaps |  | -476 279.13 | -0.04 |
| Total des Instruments dérivés non négociés sur une bourse officielle ou sur un autre marché réglementé |  | 6 211 190.14 | 0.53 |
| Total des Instruments dérivés |  | 6 921 264.67 | 0.59 |
| * Nominal positif: le compartiment est «receveur», nominal négatif: le compartiment est «payeur». |  |  |  |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2022
| Dénomination	Nombre/ | Evaluation en USD | en % |
| --- | --- | --- |
| Nominal | Bénéfice/(perte) non | de |
|  | réalisé(e) sur futures/ | l’actif |
|  | Contrats de | net |
|  | change à terme/ |  |
|  | Swaps (note 1) |  |

Contrats de change à terme
Devise achetée/Montant acheté/Devise vendue/Montant vendu/Date de maturité
| USD | 14 060 956.29 | BRL | 75 430 000.00 | 6.12.2022 | -279 143.42 | -0.02 |
| --- | --- | --- | --- | --- | --- | --- |
| KRW | 31 865 000 000.00 | USD | 22 342 588.70 | 6.12.2022 | 1 816 018.09 | 0.15 |
| USD | 22 192 122.06 | TWD | 712 700 000.00 | 6.12.2022 | -888 163.99 | -0.07 |
| CNY | 68 400 000.00 | USD | 9 493 407.36 | 6.12.2022 | 95 657.73 | 0.01 |
| MYR | 26 255 000.00 | USD | 5 548 980.24 | 6.12.2022 | 356 327.90 | 0.03 |
| COP | 55 627 575 000.00 | USD | 11 473 151.49 | 6.12.2022 | 72 332.40 | 0.01 |
| USD | 35 083 836.98 | MXN | 697 580 000.00 | 6.12.2022 | -915 693.40 | -0.08 |
| JPY | 1 012 800 000.00 | USD | 6 881 987.44 | 6.12.2022 | 377 069.39 | 0.03 |
| AUD | 27 940 000.00 | USD | 17 961 698.39 | 6.12.2022 | 750 376.09 | 0.06 |
| SEK | 126 940 000.00 | USD | 11 560 073.54 | 6.12.2022 | 344 324.03 | 0.03 |
| PLN | 42 130 000.00 | USD | 8 845 743.63 | 6.12.2022 | 433 262.06 | 0.04 |
| CHF | 12 160 000.00 | USD | 12 243 622.72 | 6.12.2022 | 521 001.36 | 0.04 |
| USD | 86 899 135.86 | GBP | 75 490 000.00 | 6.12.2022 | -3 004 509.15 | -0.25 |
| USD | 22 143 448.07 | CZK | 549 770 000.00 | 6.12.2022 | -1 102 967.10 | -0.09 |
| USD | 146 432 166.00 | NZD | 248 865 000.00 | 6.12.2022 | -8 137 595.14 | -0.69 |
| USD | 14 688 243.14 | CAD | 19 980 000.00 | 6.12.2022 | -49 604.99 | 0.00 |
| USD | 22 871 705.28 | THB | 856 200 000.00 | 6.12.2022 | -1 409 505.23 | -0.12 |
| USD | 218 483 343.74 | EUR | 220 240 000.00 | 6.12.2022 | -8 304 567.99 | -0.71 |
| HUF | 1 439 500 000.00 | USD | 3 459 442.07 | 6.12.2022 | 154 841.17 | 0.01 |
| USD | 2 588 857.53 | CAD | 3 490 000.00 | 6.12.2022 | 14 528.70 | 0.00 |
| USD | 3 546 287.99 | HUF | 1 439 500 000.00 | 6.12.2022 | -67 995.25 | -0.01 |
| AUD | 17 428 573.29 | EUR | 11 145 000.00 | 6.12.2022 | 195 959.79 | 0.02 |
| EUR | 11 985 000.00 | CHF | 11 789 225.03 | 6.12.2022 | -34 085.66 | 0.00 |
| USD | 2 475 743.53 | MXN | 48 270 000.00 | 6.12.2022 | -15 293.10 | 0.00 |
| PLN | 11 555 000.00 | USD | 2 495 659.86 | 6.12.2022 | 49 294.11 | 0.00 |
| BRL | 32 043 925.00 | USD | 5 975 000.00 | 6.12.2022 | 116 914.09 | 0.01 |
| USD | 5 975 000.00 | MXN | 116 333 608.50 | 6.12.2022 | -28 548.37 | 0.00 |
| GBP | 5 817 405.31 | EUR | 6 584 499.50 | 6.12.2022 | 147 875.05 | 0.01 |
| GBP | 4 573 235.81 | EUR | 5 230 500.50 | 6.12.2022 | 60 412.03 | 0.01 |
| CAD | 4 014 612.59 | MXN | 59 220 000.00 | 6.12.2022 | -94 846.34 | -0.01 |
| PLN | 18 025 000.00 | HUF | 1 560 842 430.00 | 6.12.2022 | 51 023.23 | 0.00 |
| USD | 5 620 000.00 | SGD | 7 720 346.86 | 6.12.2022 | -14 032.65 | 0.00 |
| IDR | 87 256 120 000.00 | USD | 5 620 000.00 | 6.12.2022 | -71 543.05 | -0.01 |
| USD | 3 019 248.86 | HUF | 1 203 850 000.00 | 6.12.2022 | -3 366.55 | 0.00 |
| USD | 12 380 179.60 | EUR | 11 860 000.00 | 6.12.2022 | 167 572.29 | 0.01 |
| USD | 1 491 652.73 | EUR | 1 430 000.00 | 6.12.2022 | 19 137.68 | 0.00 |
| CHF | 162 497 000.00 | USD | 174 032 761.60 | 12.1.2023 | -2 513 475.59 | -0.21 |
| EUR | 383 279 800.00 | USD | 401 306 598.83 | 12.1.2023 | -5 239 989.47 | -0.45 |
| CAD | 269 600 000.00 | USD | 203 506 163.61 | 12.1.2023 | -4 491 213.85 | -0.38 |
| USD | 5 670 000.00 | SGD | 7 751 292.57 | 6.12.2022 | 13 384.28 | 0.00 |
| IDR | 88 610 760 000.00 | USD | 5 670 000.00 | 6.12.2022 | -35 403.97 | 0.00 |
| USD | 3 057 730.29 | AUD | 4 525 000.00 | 6.12.2022 | 27 231.47 | 0.00 |
| PLN | 25 000 000.00 | USD | 5 523 732.72 | 6.12.2022 | -17 557.97 | 0.00 |
| CAD | 1 450 000.00 | USD | 1 091 831.29 | 6.12.2022 | -22 267.74 | 0.00 |
| CHF | 2 534 500.00 | USD | 2 707 541.70 | 12.1.2023 | -32 319.20 | 0.00 |
| EUR | 5 329 500.00 | USD | 5 568 980.02 | 12.1.2023 | -61 679.62 | -0.01 |
| AUD | 17 480 000.00 | NZD | 18 980 483.20 | 6.12.2022 | -81 989.34 | -0.01 |
| AUD | 2 280 000.00 | NZD | 2 472 944.77 | 6.12.2022 | -8 973.55 | 0.00 |
| USD | 2 349 743.62 | CAD | 3 140 000.00 | 6.12.2022 | 33 585.31 | 0.00 |
| USD | 4 900 944.83 | EUR | 4 725 000.00 | 6.12.2022 | 35 466.79 | 0.00 |
| USD | 2 767 533.77 | EUR | 2 695 000.00 | 6.12.2022 | -7 590.74 | 0.00 |
| PLN | 9 255 000.00 | USD | 2 034 081.85 | 6.12.2022 | 4 304.04 | 0.00 |
| CZK | 297 330 452.80 | PLN | 57 230 000.00 | 6.12.2022 | -32 449.86 | 0.00 |
| CAD | 1 563 791.23 | HUF | 466 250 000.00 | 6.12.2022 | -17 163.68 | 0.00 |
| EUR | 10 965 000.00 | AUD | 16 910 508.09 | 6.12.2022 | -34 364.96 | 0.00 |
| CAD | 16 046 315.81 | GBP | 9 895 000.00 | 6.12.2022 | 51 946.18 | 0.00 |
| GBP | 1 200 000.00 | USD | 1 451 325.60 | 6.12.2022 | -22 204.21 | 0.00 |
| PLN | 9 000 000.00 | USD | 2 006 623.64 | 6.12.2022 | -24 400.73 | 0.00 |
| USD | 1 500 000.00 | CAD | 2 015 526.00 | 6.12.2022 | 13 287.48 | 0.00 |
| USD | 1 202 727.01 | EUR | 1 155 900.00 | 12.1.2023 | 8 264.39 | 0.00 |
| EUR | 11 330 000.00 | USD | 11 713 577.15 | 6.12.2022 | -46 727.17 | 0.00 |
| USD | 23 177 235.77 | TWD | 712 700 000.00 | 6.1.2023 | -131 133.44 | -0.01 |
| TWD | 712 700 000.00 | USD | 23 042 353.70 | 6.12.2022 | 37 932.35 | 0.00 |
| USD | 9 559 748.43 | CNY | 68 400 000.00 | 6.12.2022 | -29 316.66 | 0.00 |
| CNY | 68 400 000.00 | USD | 9 579 831.93 | 6.1.2023 | 119 830.66 | 0.01 |
| MYR | 26 255 000.00 | USD | 5 820 217.25 | 6.1.2023 | 99 214.88 | 0.01 |
| USD | 5 815 060.91 | MYR | 26 255 000.00 | 6.12.2022 | -90 247.23 | -0.01 |
| IDR | 175 866 900 000.00 | USD | 11 164 734.64 | 6.1.2023 | 29 995.11 | 0.00 |
| USD | 11 173 245.24 | IDR | 175 866 880 000.00 | 6.12.2022 | -9 807.73 | 0.00 |
| USD | 24 030 920.06 | KRW | 31 865 000 000.00 | 6.12.2022 | -127 686.73 | -0.01 |
| KRW | 31 865 000 000.00 | USD | 24 053 595.02 | 6.1.2023 | 122 134.81 | 0.01 |
| USD | 8 128 512.55 | BRL | 43 390 000.00 | 6.1.2023 | -67 094.07 | -0.01 |
| COP | 55 627 575 000.00 | USD | 11 509 709.09 | 6.1.2023 | -30 673.00 | 0.00 |
| BRL | 43 386 075.00 | USD | 8 181 420.89 | 6.12.2022 | 66 764.73 | 0.01 |
| USD | 11 577 018.73 | COP | 55 627 575 000.00 | 6.12.2022 | 31 534.84 | 0.00 |
| EUR | 1 000 000.00 | USD | 1 032 426.00 | 6.12.2022 | -2 695.20 | 0.00 |
| Total des Contrats de change à terme | -31 161 082.58 | -2.65 |
| Avoirs en banque, dépôts à vue et à terme et autres liquidités | 85 200 431.69* | 7.25 |
| Crédit en compte courant et autres engagements à court terme | -9 322 202.36 | -0.79 |
| Autres actifs et passifs | -355 632.95 | -0.04 |
| Total de l’Actif net | 1 175 964 785.41 | 100.00 |

* Au 30 novembre 2022, des avoirs en banque ont été utilisés à titre de garanties, à hauteur de 1 240 000.00 USD en faveur de Citibank, à hauteur de 546 000.00 USD en faveur de JP Morgan et à hauteur de 51 000.00 USD en faveur de Morgan Stanley London.
UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport semestriel au 30 novembre 2022