# Annual report and audited financial statement as of 31 March 2023
| Table of contents | Page |  | ISIN |
| --- | --- | --- | --- |
| Management and Administration | 4 |  |  |
| Features of the Fund | 6 |  |  |
| Independent auditor’s report | 13 |  |  |
| UBS (Lux) Bond Fund | 15 |  |  |
| UBS (Lux) Bond Fund – Asia Flexible (USD)* UBS (Lux) Bond Fund – AUD | 17 30 | F-acc (EUR hedged) F-acc (SGD hedged) F-acc I-A1-acc (EUR hedged) I-A1-acc (GBP hedged) I-A2-dist I-A3-acc I-A3-dist (EUR hedged) I-A3-dist (GBP hedged) I-A3-dist I-B-acc I-X-acc I-X-dist K-B-acc (EUR hedged) N-acc P-acc (EUR hedged) P-acc (SGD hedged) P-acc (EUR hedged) P-dist P-mdist (SGD hedged) P-mdist Q-acc (EUR hedged) Q-acc (EUR hedged) Q-dist (GBP hedged) Q-dist Q-mdist U-X-UKdist-mdist F-acc | LU0464245496 LU0464251627 LU0964819261 LU0464245819 LU2257650221 LU2215770434 LU0464246205 LU2478388304 LU2521230677 LU2521230750 LU1881004490 LU0464246890 LU0464246627 LU2333664980 LU0464250819 LU0464244333 LU0464250652 LU0464247518 LU0464250496 LU0464244259 LU0464247435 LU0464245652 LU0464251973 LU0464251890 LU2215770780 LU0464245579 LU1896727721 LU0415157832 |
| UBS (Lux) Bond Fund – CHF Flexible** | 37 | I-B-dist I-X-acc N-acc P-acc P-dist Q-acc Q-dist F-acc | LU2199642260 LU0415159374 LU0415156602 LU0035338325 LU0035338242 LU0415158053 LU0415157915 LU0415163566 |
| UBS (Lux) Bond Fund – Convert Europe (EUR) | 45 | I-A1-acc I-A3-acc P-acc P-dist Q-acc Q-dist I-A1-acc | LU0415164028 LU0415164531 LU0010001369 LU0010001286 LU0415163723 LU0415163640 LU0415179133 |
|  |  | (CHF hedged) I-A1-acc I-A1-dist I-A2-acc I-X-acc (CHF hedged) I-X-acc (CZK hedged) I-X-acc I-X-dist P-acc (CHF hedged) P-acc P-dist Q-acc (CHF hedged) Q-acc Q-dist U-X-dist | LU1331651429 LU0804734944 LU0415179307 LU0415180065 LU1415541744 LU1676335794 LU0415179992 LU0108066076 LU0776290768 LU0108060624 LU0358408184 LU1240769197 LU0415178911 LU0415180149 |
| * formerly UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) ** formerly UBS (Lux) Bond Fund – CHF |  |  |  |

| UBS (Lux) Bond Fund – EUR Flexible | 53 | I-A1-acc | LU2092777270 |
| --- | --- | --- | --- |
|  |  | P-2%-qdist | LU1669358142 |
|  |  | P-acc | LU0033050237 |
|  |  | P-dist | LU0033049577 |
|  |  | Q-acc | LU0358407707 |
|  |  | Q-dist | LU0415166585 |
| UBS (Lux) Bond Fund – Euro High Yield (EUR) | 64 | F-acc | LU0415181469 |
|  |  | (USD hedged) F-acc | LU1611257251 |
|  |  | I-A1-acc | LU0415181899 |
|  |  | I-A2-acc | LU1368322555 |
|  |  | (USD hedged) I-A2-acc | LU1545724228 |
|  |  | I-B-acc | LU0415182517 |
|  |  | (USD hedged) I-B-acc | LU2107562485 |
|  |  | I-X-acc | LU0415182780 |
|  |  | (CHF hedged) I-X-acc | LU0654646750 |
|  |  | K-1-acc | LU0415180909 |
|  |  | (USD hedged) K-1-acc | LU1004765761 |
|  |  | (USD hedged) K-1-mdist | LU1329801796 |
|  |  | K-B-mdist | LU2208382932 |
|  |  | N-dist | LU0415180495 |
|  |  | P-6%-mdist | LU1076698254 |
|  |  | P-acc | LU0086177085 |
|  |  | (CHF hedged) P-acc | LU0776290842 |
|  |  | (USD hedged) P-acc | LU0994471687 |
|  |  | P-dist | LU0085995990 |
|  |  | P-mdist | LU0417441200 |
|  |  | (AUD hedged) P-mdist | LU0945635778 |
|  |  | (CAD hedged) P-mdist | LU0945635851 |
|  |  | (GBP hedged) P-mdist | LU0997192736 |
|  |  | (HKD hedged) P-mdist | LU0973218331 |
|  |  | (JPY hedged) P-mdist | LU1545771492 |
|  |  | (RMB hedged) P-mdist | LU0968750884 |
|  |  | (SGD hedged) P-mdist | LU0989134753 |
|  |  | (USD hedged) P-mdist | LU0937166394 |
|  |  | (ZAR hedged) P-mdist | LU2186299629 |
|  |  | Q-6%-mdist | LU1240770286 |
|  |  | (USD hedged) Q-6%-mdist | LU1317082110 |
|  |  | Q-acc | LU0358408267 |
|  |  | (CHF hedged) Q-acc | LU1240769437 |
|  |  | (USD hedged) Q-acc | LU1240770013 |
|  |  | Q-dist | LU0415181543 |
|  |  | Q-mdist | LU1240770369 |
|  |  | (GBP hedged) Q-mdist | LU1240769510 |
|  |  | (USD hedged) Q-mdist | LU1240770104 |
|  |  | (USD hedged) U-X-acc | LU2272237822 |
|  |  | U-X-UKdist-mdist | LU1839734958 |
| UBS (Lux) Bond Fund – Global Flexible | 81 | (CAD hedged) F-acc | LU1467593940 |
|  |  | (GBP hedged) F-acc | LU1991433100 |
|  |  | (EUR hedged) I-A1-acc | LU0487187873 |
|  |  | (EUR hedged) I-A3-acc | LU2388426038 |
|  |  | I-B-acc | LU0415185379 |
|  |  | (EUR hedged) I-B-acc | LU2198574894 |
|  |  | (EUR hedged) I-X-acc | LU0487188764 |
|  |  | P-acc | LU0071006638 |
|  |  | (CAD hedged) P-acc | LU1467572357 |
|  |  | (EUR hedged) P-acc | LU0487186396 |
|  |  | (GBP hedged) P-acc | LU1991433365 |
|  |  | (USD hedged) P-acc | LU2064451730 |
|  |  | P-dist | LU0071005408 |
|  |  | (CAD hedged) P-dist | LU1467578123 |
|  |  | (EUR hedged) P-dist | LU0487186123 |
|  |  | (GBP hedged) P-dist | LU1991433795 |
|  |  | (USD hedged) P-dist | LU2064452977 |
|  |  | (EUR hedged) P-2%-qdist | LU1669358571 |
|  |  | Q-acc | LU0415184216 |
|  |  | (CAD hedged) Q-acc | LU1467583982 |
|  |  | (EUR hedged) Q-acc | LU0487187527 |
|  |  | (GBP hedged) Q-acc | LU1991433878 |
|  |  | (USD hedged) Q-acc | LU2064456457 |
|  |  | Q-dist | LU0415184133 |
|  |  | (CAD hedged) Q-dist | LU1467589328 |
|  |  | (GBP hedged) Q-dist | LU1991433951 |
|  |  | (USD hedged) Q-dist | LU2064456614 |

Sales restrictions
Units of this fund may not be offered, sold or distributed within the United States of America.

#### Internet address
www.ubs.com/funds

Translation (ENFR, 2023-03-31):
# Rapport annuel et états financiers révisés au 31 mars 2023
| Sommaire | Page |  | ISIN |
| --- | --- | --- | --- |
| Gestion et administration | 4 |  |  |
| Caractéristiques du Fonds | 6 |  |  |
| Rapport du Réviseur d’entreprises agréé | 13 |  |  |
| UBS (Lux) Bond Fund | 15 |  |  |
| UBS (Lux) Bond Fund – Asia Flexible (USD)* UBS (Lux) Bond Fund – AUD | 17 30 | F-acc (EUR hedged) F-acc (SGD hedged) F-acc I-A1-acc (EUR hedged) I-A1-acc (GBP hedged) I-A2-dist I-A3-acc I-A3-dist (EUR hedged) I-A3-dist (GBP hedged) I-A3-dist I-B-acc I-X-acc I-X-dist K-B-acc (EUR hedged) N-acc P-acc (EUR hedged) P-acc (SGD hedged) P-acc (EUR hedged) P-dist P-mdist (SGD hedged) P-mdist Q-acc (EUR hedged) Q-acc (EUR hedged) Q-dist (GBP hedged) Q-dist Q-mdist U-X-UKdist-mdist F-acc | LU0464245496 LU0464251627 LU0964819261 LU0464245819 LU2257650221 LU2215770434 LU0464246205 LU2478388304 LU2521230677 LU2521230750 LU1881004490 LU0464246890 LU0464246627 LU2333664980 LU0464250819 LU0464244333 LU0464250652 LU0464247518 LU0464250496 LU0464244259 LU0464247435 LU0464245652 LU0464251973 LU0464251890 LU2215770780 LU0464245579 LU1896727721 LU0415157832 |
| UBS (Lux) Bond Fund – CHF Flexible** | 37 | I-B-dist I-X-acc N-acc P-acc P-dist Q-acc Q-dist F-acc | LU2199642260 LU0415159374 LU0415156602 LU0035338325 LU0035338242 LU0415158053 LU0415157915 LU0415163566 |
| UBS (Lux) Bond Fund – Convert Europe (EUR) | 45 | I-A1-acc I-A3-acc P-acc P-dist Q-acc Q-dist I-A1-acc | LU0415164028 LU0415164531 LU0010001369 LU0010001286 LU0415163723 LU0415163640 LU0415179133 |
|  |  | (CHF hedged) I-A1-acc I-A1-dist I-A2-acc I-X-acc (CHF hedged) I-X-acc (CZK hedged) I-X-acc I-X-dist P-acc (CHF hedged) P-acc P-dist Q-acc (CHF hedged) Q-acc Q-dist U-X-dist | LU1331651429 LU0804734944 LU0415179307 LU0415180065 LU1415541744 LU1676335794 LU0415179992 LU0108066076 LU0776290768 LU0108060624 LU0358408184 LU1240769197 LU0415178911 LU0415180149 |
| * anciennement: UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD) ** anciennement: UBS (Lux) Bond Fund – CHF |  |  |  |

| UBS (Lux) Bond Fund – EUR Flexible | 53 | I-A1-acc | LU2092777270 |
| --- | --- | --- | --- |
|  |  | P-2%-qdist | LU1669358142 |
|  |  | P-acc | LU0033050237 |
|  |  | P-dist | LU0033049577 |
|  |  | Q-acc | LU0358407707 |
|  |  | Q-dist | LU0415166585 |
| UBS (Lux) Bond Fund – Euro High Yield (EUR) | 64 | F-acc | LU0415181469 |
|  |  | (USD hedged) F-acc | LU1611257251 |
|  |  | I-A1-acc | LU0415181899 |
|  |  | I-A2-acc | LU1368322555 |
|  |  | (USD hedged) I-A2-acc | LU1545724228 |
|  |  | I-B-acc | LU0415182517 |
|  |  | (USD hedged) I-B-acc | LU2107562485 |
|  |  | I-X-acc | LU0415182780 |
|  |  | (CHF hedged) I-X-acc | LU0654646750 |
|  |  | K-1-acc | LU0415180909 |
|  |  | (USD hedged) K-1-acc | LU1004765761 |
|  |  | (USD hedged) K-1-mdist | LU1329801796 |
|  |  | K-B-mdist | LU2208382932 |
|  |  | N-dist | LU0415180495 |
|  |  | P-6%-mdist | LU1076698254 |
|  |  | P-acc | LU0086177085 |
|  |  | (CHF hedged) P-acc | LU0776290842 |
|  |  | (USD hedged) P-acc | LU0994471687 |
|  |  | P-dist | LU0085995990 |
|  |  | P-mdist | LU0417441200 |
|  |  | (AUD hedged) P-mdist | LU0945635778 |
|  |  | (CAD hedged) P-mdist | LU0945635851 |
|  |  | (GBP hedged) P-mdist | LU0997192736 |
|  |  | (HKD hedged) P-mdist | LU0973218331 |
|  |  | (JPY hedged) P-mdist | LU1545771492 |
|  |  | (RMB hedged) P-mdist | LU0968750884 |
|  |  | (SGD hedged) P-mdist | LU0989134753 |
|  |  | (USD hedged) P-mdist | LU0937166394 |
|  |  | (ZAR hedged) P-mdist | LU2186299629 |
|  |  | Q-6%-mdist | LU1240770286 |
|  |  | (USD hedged) Q-6%-mdist | LU1317082110 |
|  |  | Q-acc | LU0358408267 |
|  |  | (CHF hedged) Q-acc | LU1240769437 |
|  |  | (USD hedged) Q-acc | LU1240770013 |
|  |  | Q-dist | LU0415181543 |
|  |  | Q-mdist | LU1240770369 |
|  |  | (GBP hedged) Q-mdist | LU1240769510 |
|  |  | (USD hedged) Q-mdist | LU1240770104 |
|  |  | (USD hedged) U-X-acc | LU2272237822 |
|  |  | U-X-UKdist-mdist | LU1839734958 |
| UBS (Lux) Bond Fund – Global Flexible | 81 | (CAD hedged) F-acc | LU1467593940 |
|  |  | (GBP hedged) F-acc | LU1991433100 |
|  |  | (EUR hedged) I-A1-acc | LU0487187873 |
|  |  | (EUR hedged) I-A3-acc | LU2388426038 |
|  |  | I-B-acc | LU0415185379 |
|  |  | (EUR hedged) I-B-acc | LU2198574894 |
|  |  | (EUR hedged) I-X-acc | LU0487188764 |
|  |  | P-acc | LU0071006638 |
|  |  | (CAD hedged) P-acc | LU1467572357 |
|  |  | (EUR hedged) P-acc | LU0487186396 |
|  |  | (GBP hedged) P-acc | LU1991433365 |
|  |  | (USD hedged) P-acc | LU2064451730 |
|  |  | P-dist | LU0071005408 |
|  |  | (CAD hedged) P-dist | LU1467578123 |
|  |  | (EUR hedged) P-dist | LU0487186123 |
|  |  | (GBP hedged) P-dist | LU1991433795 |
|  |  | (USD hedged) P-dist | LU2064452977 |
|  |  | (EUR hedged) P-2%-qdist | LU1669358571 |
|  |  | Q-acc | LU0415184216 |
|  |  | (CAD hedged) Q-acc | LU1467583982 |
|  |  | (EUR hedged) Q-acc | LU0487187527 |
|  |  | (GBP hedged) Q-acc | LU1991433878 |
|  |  | (USD hedged) Q-acc | LU2064456457 |
|  |  | Q-dist | LU0415184133 |
|  |  | (CAD hedged) Q-dist | LU1467589328 |
|  |  | (GBP hedged) Q-dist | LU1991433951 |
|  |  | (USD hedged) Q-dist | LU2064456614 |

Restrictions de vente
Les parts de ce Fonds ne peuvent être offertes, vendues ou livrées sur le territoire des Etats-Unis d’Amérique.

### Adresse Internet
www.ubs.com/funds