# UBS (Lux) Bond SICAV
– Short Term USD Corporates Sustainable (USD)*
| Three-year comparison |  |
| --- | --- |
|  | ISIN | 31.5.2022 | 31.5.2021 | 31.5.2020 |
| Net assets in USD |  | 700 977 615.75 | 1 008 206 695.37 | 877 789 937.60 |
| Class F-acc | LU0396352246 |  |  |  |
| Shares outstanding |  | 231 925.0000 | 354 929.2490 | 419 131.3950 |
| Net asset value per share in USD |  | 111.82 | 115.73 | 111.94 |
| Issue and redemption price per share in USD 1 |  | 111.82 | 115.73 | 111.94 |
| Class (CHF hedged) F-acc | LU1289971720 |  |  |  |
| Shares outstanding |  | 233 062.0000 | 392 668.0000 | 301 244.0000 |
| Net asset value per share in CHF |  | 98.34 | 102.89 | 100.71 |
| Issue and redemption price per share in CHF 1 |  | 98.34 | 102.89 | 100.71 |
| Class (EUR hedged) F-acc | LU1717044058 |  |  |  |
| Shares outstanding |  | 176 305.8240 | 194 570.7880 | 253 762.7880 |
| Net asset value per share in EUR |  | 98.99 | 103.32 | 100.93 |
| Issue and redemption price per share in EUR 1 |  | 98.99 | 103.32 | 100.93 |
| Class I-A1-acc | LU0849031678 |  |  |  |
| Shares outstanding |  | 63 547.7350 | 367 843.0520 | 104 598.6990 |
| Net asset value per share in USD |  | 114.44 | 118.60 | 114.88 |
| Issue and redemption price per share in USD 1 |  | 114.44 | 118.60 | 114.88 |
| Class I-A2-acc | LU0838529096 |  |  |  |
| Shares outstanding |  | 10 809.4490 | 21 153.0110 | 28 776.7380 |
| Net asset value per share in USD |  | 115.25 | 119.39 | 115.59 |
| Issue and redemption price per share in USD 1 |  | 115.25 | 119.39 | 115.59 |
| Class (EUR hedged) I-A3-acc 2 | LU2352401819 |  |  |  |
| Shares outstanding |  | 1 660 237.5670 | - | - |
| Net asset value per share in EUR |  | 95.92 | - | - |
| Issue and redemption price per share in EUR 1 |  | 95.92 | - | - |
| Class I-B-acc | LU0396353483 |  |  |  |
| Shares outstanding |  | 352 423.9550 | 775 546.7270 | 432 286.4070 |
| Net asset value per share in USD |  | 115.10 | 118.86 | 114.71 |
| Issue and redemption price per share in USD 1 |  | 115.10 | 118.86 | 114.71 |
| Class (EUR hedged) I-B-acc | LU1323607827 |  |  |  |
| Shares outstanding |  | 343 998.1870 | 678 297.3960 | 446 504.5090 |
| Net asset value per share in EUR |  | 101.57 | 105.74 | 103.04 |
| Issue and redemption price per share in EUR 1 |  | 101.57 | 105.74 | 103.04 |
| Class I-X-acc | LU0396353640 |  |  |  |
| Shares outstanding |  | 499 150.5490 | 617 147.4280 | 629 678.4730 |
| Net asset value per share in USD |  | 115.86 | 119.57 | 115.32 |
| Issue and redemption price per share in USD 1 |  | 115.86 | 119.57 | 115.32 |
| Class (CHF hedged) I-X-acc | LU0920821211 |  |  |  |
| Shares outstanding |  | 1 534 204.0270 | 2 035 224.9160 | 2 234 861.3020 |
| Net asset value per share in CHF |  | 100.73 | 105.05 | 102.50 |
| Issue and redemption price per share in CHF 1 |  | 100.73 | 105.05 | 102.50 |
| Class (EUR hedged) I-X-acc | LU1632887292 |  |  |  |
| Shares outstanding |  | 683 732.7840 | 728 623.6320 | 698 516.7320 |
| Net asset value per share in EUR |  | 99.99 | 104.03 | 101.30 |
| Issue and redemption price per share in EUR 1 |  | 99.99 | 104.03 | 101.30 |
| Class (EUR hedged) I-X-UKdist 3 | LU1885553575 |  |  |  |
| Shares outstanding |  | - | - | 66 800.0000 |
| Net asset value per share in EUR |  | - | - | 101.13 |
| Issue and redemption price per share in EUR 1 |  | - | - | 101.13 |
| Class (CHF hedged) K-B-acc 4 | LU2273245626 |  |  |  |
| Shares outstanding |  | 5 498.7010 | 5 498.7010 | - |
| Net asset value per share in CHF |  | 96.08 | 100.28 | - |
| Issue and redemption price per share in CHF 1 |  | 96.08 | 100.28 | - |
| Class K-B-mdist 5 | LU2204822436 |  |  |  |
| Shares outstanding |  | 30 933.7340 | 92 248.4920 | - |
| Net asset value per share in USD |  | 96.73 | 101.02 | - |
| Issue and redemption price per share in USD 1 |  | 96.73 | 101.02 | - |
| Class K-X-acc 6 | LU1564462387 |  |  |  |
| Shares outstanding |  | - | - | 136 879.8750 |
| Net asset value per share in USD |  | - | - | 110.37 |
| Issue and redemption price per share in USD 1 |  | - | - | 110.37 |
| Class (EUR hedged) K-X-acc | LU1620846318 |  |  |  |
| Shares outstanding |  | 25.5790 | 25.5790 | 23 475.2070 |
| Net asset value per share in EUR |  | 99.98 | 104.05 | 101.36 |
| Issue and redemption price per share in EUR 1 |  | 99.98 | 104.05 | 101.36 |

UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
* formerly UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)
Annual report and audited financial statements as of 31 May 2022
|  | ISIN | 31.5.2022 | 31.5.2021 | 31.5.2020 |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Class P-acc | LU0151774972 |  |  |  |
| Shares outstanding |  | 390 075.5730 | 415 204.4590 | 341 732.9980 |
| Net asset value per share in USD |  | 143.95 | 149.83 | 145.74 |
| Issue and redemption price per share in USD 1 |  | 143.95 | 149.83 | 145.74 |
| Class Q-acc | LU0396352592 |  |  |  |
| Shares outstanding |  | 200 208.7440 | 144 134.9500 | 147 443.7160 |
| Net asset value per share in USD |  | 116.54 | 120.86 | 117.14 |
| Issue and redemption price per share in USD 1 |  | 116.54 | 120.86 | 117.14 |
| Class U-X-acc 7 | LU0396353996 |  |  |  |
| Shares outstanding |  | - | 15 520.0000 | 15 617.0000 |
| Net asset value per share in USD |  | - | 11 458.80 | 11 051.43 |
| Issue and redemption price per share in USD 1 |  | - | 11 458.80 | 11 051.43 |
| 1  See note 1 2  First NAV: 21.6.2021 3  The share class (EUR hedged) I-X-UKdist was in circulation until 17.9.2020 4  First NAV: 22.12.2020 5  First NAV: 31.7.2020 6  The share class K-X-acc was in circulation until 5.8.2020 7  The share class U-X-acc was in circulation until 8.11.2021 |  |  |  |  |
| Performance |  |  |  |  |
|  | Currency | 2021/2022 | 2020/2021 | 2019/2020 |
| Class F-acc | USD | -3.4% | 3.4% | 3.7% |
| Class (CHF hedged) F-acc | CHF | -4.4% | 2.2% | 0.5% |
| Class (EUR hedged) F-acc | EUR | -4.2% | 2.4% | 1.1% |
| Class I-A1-acc | USD | -3.5% | 3.2% | 3.5% |
| Class I-A2-acc | USD | -3.5% | 3.3% | 3.6% |
| Class (EUR hedged) I-A3-acc 1 | EUR | - | - | - |
| Class I-B-acc | USD | -3.2% | 3.6% | 4.0% |
| Class (EUR hedged) I-B-acc | EUR | -3.9% | 2.6% | 1.4% |
| Class I-X-acc | USD | -3.1% | 3.7% | 4.0% |
| Class (CHF hedged) I-X-acc | CHF | -4.1% | 2.5% | 0.9% |
| Class (EUR hedged) I-X-acc | EUR | -3.9% | 2.7% | 1.4% |
| Class (EUR hedged) I-X-UKdist 2 | EUR | - | - | 1.4% |
| Class (CHF hedged) K-B-acc | CHF | -4.2% | - | - |
| Class K-B-mdist | USD | -3.2% | - | - |
| Class K-X-acc 3 | USD | - | - | 4.0% |
| Class (EUR hedged) K-X-acc | EUR | -3.9% | 2.7% | 1.4% |
| Class P-acc | USD | -3.9% | 2.8% | 3.1% |
| Class Q-acc | USD | -3.6% | 3.2% | 3.5% |
| Class U-X-acc 4 | USD | - | 3.7% | 4.0% |
| Benchmark: 5 |  |  |  |  |
| Bloomberg Barclays Eurodollar Corporate 1-3yrs | USD | -3.6% | 2.8% | 4.4% |
| Bloomberg Barclays Eurodollar Corporate 1-3yrs (hedged CHF) | CHF | -4.8% | 1.6% | 1.4% |
| Bloomberg Barclays Eurodollar Corporate 1-3yrs (hedged EUR) | EUR | -4.7% | 1.9% | 1.8% |
| 1  Due to the recent launch, there is no data for the calculation of the performance available. |  |  |  |  |

2 
The share class (EUR hedged) I-X-UKdist was in circulation until 17.9.2020. Due to this fact, there is no data for the calculation of the performance available.
3 
The share class K-X-acc was in circulation until 5.8.2020. Due to this fact, there is no data for the calculation of the performance available.
4 
The share class U-X-acc was in circulation until 8.11.2021. Due to this fact, there is no data for the calculation of the performance available.
5 
The subfund is actively managed. The index is a point of reference against which the performance of the subfund may be measured.
Historical performance is no indicator of current or future performance.
The performance data does not take account of any commissions and costs charged when subscribing and redeeming shares. The performance data were not audited.
UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
- formerly UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)Annual report and audited financial statements as of 31 May 2022


## Report of the Portfolio Manager
In the financial year, from 1 June 2021 to 31 May 2022, US fixed income markets delivered a negative performance.
While the focus in 2020/2021 was on global growth & fiscal policy, Q122 was clearly dominated by inflation (worries) and its challenge for central banks. The response of the central banks and thus also the re-pricing of the yield curve didn’t take too long. While in December the Fed dots predicted only 3 hikes for whole year 2022, we got 3 hikes YTD and the market prices another 7.5 hikes until year end. The US yield curve on average has shifted upwards by 180bp over 12 months, with the 2-year taking the brunt of the pain by raising 260bp.
US investment grade corporate credit spreads widened steadily over the financial year and were close to 50bp wider at the end of May 2022. The credit market remains unsettled as we navigate through this period of persis- tent inflation and monetary policy tightening. However, overall corporate spreads of 130bp and the Corporate index now yielding 4.20% is giving investors a much more attractive entry point than the start of the year. The credit market continues to be supported by steady corporate fundamentals and a growth environment (low unemployment and strong wages) that should be able to withstand tightening financial conditions.
The subfund generated a negative performance in the financial year. The main negative return driver was the average yield increase of 260bp paired with a duration of 1.9 yrs which explains roughly 80% of the negative return. The subfund has followed a diversified approach, investing across a range of industries and issuers. At the end of the financial year, the option-adjusted duration of the subfund was close to unchanged at 1.9 years. Dura- tion management, spread management and mainly issue selection contributed positively to relative performance.

## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
| United States | 39.40 |
| --- | --- |
| United Kingdom | 10.30 |
| France | 5.23 |
| Ireland | 4.21 |
| Australia | 4.03 |
| The Netherlands | 4.03 |
| Canada | 3.67 |
| Switzerland | 3.51 |
| Cayman Islands | 3.11 |
| Spain | 1.82 |
| Germany | 1.57 |
| Japan | 1.35 |
| Sweden | 1.29 |
| China | 1.27 |
| New Zealand | 1.19 |
| Singapore | 1.08 |
| Italy | 1.07 |
| Multinationals | 0.86 |
| Finland | 0.80 |
| Mexico | 0.79 |
| United Arab Emirates | 0.73 |
| Norway | 0.49 |
| Belgium | 0.43 |
| Guernsey | 0.43 |
| South Korea | 0.43 |
| Uzbekistan | 0.35 |
| Austria | 0.31 |
| Hong Kong | 0.31 |
| Turkey | 0.28 |
| Luxembourg | 0.27 |
| Jersey | 0.18 |
| Supranationals | 0.13 |
| Bermuda | 0.08 |
| Total | 95.00 |

Economic Breakdown as a % of net assets	
| Banks & credit institutions | 37.60 |
| --- | --- |
| Finance & holding companies | 23.10 |
| Traffic & transportation | 3.25 |
| Investment funds | 2.93 |
| Telecommunications | 2.85 |
| Mortgage & funding institutions | 2.62 |
| Insurance | 2.36 |
| Energy & water supply | 2.24 |
| Internet, software & IT services | 2.21 |
| Food & soft drinks | 2.04 |
| Vehicles | 1.81 |
| Biotechnology | 1.55 |
| Pharmaceuticals, cosmetics & medical products | 1.26 |
| Computer hardware & network equipment providers | 1.23 |
| Petroleum | 1.16 |
| Real Estate | 0.86 |
| Electronics & semiconductors | 0.77 |
| Graphic design, publishing & media | 0.72 |
| Miscellaneous unclassified companies | 0.65 |
| Mining, coal & steel | 0.61 |
| Retail trade, department stores | 0.43 |
| Mechanical engineering & industrial equipment | 0.43 |
| Building industry & materials | 0.42 |
| Healthcare & social services | 0.40 |
| Electrical devices & components | 0.36 |
| Aerospace industry | 0.30 |
| Agriculture & fishery | 0.29 |
| Chemicals | 0.28 |
| Supranational organisations | 0.14 |
| Miscellaneous services | 0.13 |
| Total | 95.00 |

UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
* formerly UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)
Annual report and audited financial statements as of 31 May 2022

## Statement of Net Assets
USD
Assets	31.5.2022
Investments in securities, cost	707 499 112.77
| Investments in securities, unrealized appreciation (depreciation) | 	-41 564 369.80	 |
| --- | --- |
| Total investments in securities (Note 1) | 665 934 742.97 |
| Cash at banks, deposits on demand and deposit accounts | 12 993 993.64 |
| Other liquid assets (Margins) | 262 885.20 |
| Receivable on securities sales (Note 1) | 327 589.65 |
| Receivable on subscriptions | 8 628 925.22 |
| Interest receivable on securities | 5 049 240.79 |
| Prepaid expenses | 39 517.27 |
| Unrealized gain on financial futures (Note 1) | 163 437.02 |
| Unrealized gain on forward foreign exchange contracts (Note 1) | 8 438 841.24 |
| Total Assets | 701 839 173.00 |
|  |  |
| Liabilities |  |
| Payable on redemptions | -636 948.85 |
| Provisions for flat fee (Note 2) | -119 667.83 |
| Provisions for taxe d’abonnement (Note 3) | -18 086.31 |
| Provisions for other commissions and fees (Note 2) | 	-86 854.26	 |
| Total provisions | -224 608.40 |
| Total Liabilities | -861 557.25 |
|  |  |
| Net assets at the end of the financial year | 700 977 615.75 |
| Statement of Operations | USD |
| Income | 1.6.2021-31.5.2022 |
| Interest on liquid assets | 2 118.42 |
| Interest on securities | 29 528 560.56 |
| Dividends | 102.85 |
| Net income on securities lending (Note 17) | 130 659.50 |
| Other income (Note 4) | 816 503.19 |
| Total income | 30 477 944.52 |
|  |  |
| Expenses |  |
| Interest paid on swaps (Note 1) | -1 699.93 |
| Flat fee (Note 2) | -1 698 085.02 |
| Taxe d’abonnement (Note 3) | -134 739.41 |
| Other commissions and fees (Note 2) | -91 661.60 |
| Interest on cash and bank overdraft | -10 208.72 |
| Total expenses | -1 936 394.68 |
|  |  |
| Net income (loss) on investments | 28 541 549.84 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | -6 955 970.29 |
| Realized gain (loss) on yield-evaluated securities and money market instruments | 198 136.08 |
| Realized gain (loss) on financial futures | 852 398.30 |
| Realized gain (loss) on forward foreign exchange contracts | -43 315 775.09 |
| Realized gain (loss) on swaps | 59 956.64 |
| Realized gain (loss) on foreign exchange | -16 057 264.83 |
| Total realized gain (loss) | -65 218 519.19 |
|  |  |
| Net realized gain (loss) of the financial year | -36 676 969.35 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | -52 190 786.55 |
| Unrealized appreciation (depreciation) on yield-evaluated securities and money market instruments | -152 347.77 |
| Unrealized appreciation (depreciation) on financial futures | 182 577.65 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | -1 133 665.61 |
| Total changes in unrealized appreciation (depreciation) | -53 294 222.28 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | -89 971 191.63 |

UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
- formerly UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)Annual report and audited financial statements as of 31 May 2022

| Changes in Net Assets |  |
| --- | --- |
|  | USD |
|  | 1.6.2021-31.5.2022 |
| Net assets at the beginning of the financial year | 1 008 206 695.37 |
| Subscriptions | 410 368 373.60 |
| Redemptions | 	-627 557 047.33	 |
| Total net subscriptions (redemptions) | -217 188 673.73 |
| Dividend paid | -69 214.26 |
| Net income (loss) on investments | 28 541 549.84 |
| Total realized gain (loss) | -65 218 519.19 |
| Total changes in unrealized appreciation (depreciation) | 	-53 294 222.28	 |
| Net increase (decrease) in net assets as a result of operations | -89 971 191.63 |
| Net assets at the end of the financial year | 700 977 615.75 |
| Changes in the Number of Shares outstanding |  |
|  | 1.6.2021-31.5.2022 |
| Class | F-acc |
| Number of shares outstanding at the beginning of the financial year | 354 929.2490 |
| Number of shares issued | 130 279.0000 |
| Number of shares redeemed | -253 283.2490 |
| Number of shares outstanding at the end of the financial year | 231 925.0000 |
| Class | (CHF hedged) F-acc |
| Number of shares outstanding at the beginning of the financial year | 392 668.0000 |
| Number of shares issued | 107 552.0000 |
| Number of shares redeemed | -267 158.0000 |
| Number of shares outstanding at the end of the financial year | 233 062.0000 |
| Class | (EUR hedged) F-acc |
| Number of shares outstanding at the beginning of the financial year | 194 570.7880 |
| Number of shares issued | 18 601.0360 |
| Number of shares redeemed | -36 866.0000 |
| Number of shares outstanding at the end of the financial year | 176 305.8240 |
| Class | I-A1-acc |
| Number of shares outstanding at the beginning of the financial year | 367 843.0520 |
| Number of shares issued | 125 410.1120 |
| Number of shares redeemed | -429 705.4290 |
| Number of shares outstanding at the end of the financial year | 63 547.7350 |
| Class | I-A2-acc |
| Number of shares outstanding at the beginning of the financial year | 21 153.0110 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -10 343.5620 |
| Number of shares outstanding at the end of the financial year | 10 809.4490 |
| Class | (EUR hedged) I-A3-acc |
| Number of shares outstanding at the beginning of the financial year | 0.0000 |
| Number of shares issued | 1 685 647.3460 |
| Number of shares redeemed | -25 409.7790 |
| Number of shares outstanding at the end of the financial year | 1 660 237.5670 |
| Class | I-B-acc |
| Number of shares outstanding at the beginning of the financial year | 775 546.7270 |
| Number of shares issued | 23 527.9890 |
| Number of shares redeemed | -446 650.7610 |
| Number of shares outstanding at the end of the financial year | 352 423.9550 |
| Class | (EUR hedged) I-B-acc |
| Number of shares outstanding at the beginning of the financial year | 678 297.3960 |
| Number of shares issued | 79 995.4240 |
| Number of shares redeemed | -414 294.6330 |
| Number of shares outstanding at the end of the financial year | 343 998.1870 |
| Class | I-X-acc |
| Number of shares outstanding at the beginning of the financial year | 617 147.4280 |
| Number of shares issued | 258 230.2440 |
| Number of shares redeemed | -376 227.1230 |
| Number of shares outstanding at the end of the financial year | 499 150.5490 |
| Class | (CHF hedged) I-X-acc |
| Number of shares outstanding at the beginning of the financial year | 2 035 224.9160 |
| Number of shares issued | 218 010.8810 |
| Number of shares redeemed | -719 031.7700 |
| Number of shares outstanding at the end of the financial year | 1 534 204.0270 |
| Class | (EUR hedged) I-X-acc |
| Number of shares outstanding at the beginning of the financial year | 728 623.6320 |
| Number of shares issued | 265 022.1620 |
| Number of shares redeemed | -309 913.0100 |
| Number of shares outstanding at the end of the financial year | 683 732.7840 |
| Class | (CHF hedged) K-B-acc |
| Number of shares outstanding at the beginning of the financial year | 5 498.7010 |
| Number of shares issued | 248 954.3910 |
| Number of shares redeemed | -248 954.3910 |
| Number of shares outstanding at the end of the financial year | 5 498.7010 |

UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
- formerly UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)Annual report and audited financial statements as of 31 May 2022

| Class | K-B-mdist |
| --- | --- |
| Number of shares outstanding at the beginning of the financial year | 92 248.4920 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -61 314.7580 |
| Number of shares outstanding at the end of the financial year | 30 933.7340 |
| Class | (EUR hedged) K-X-acc |
| Number of shares outstanding at the beginning of the financial year | 25.5790 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the financial year | 25.5790 |
| Class | P-acc |
| Number of shares outstanding at the beginning of the financial year | 415 204.4590 |
| Number of shares issued | 147 279.1660 |
| Number of shares redeemed | -172 408.0520 |
| Number of shares outstanding at the end of the financial year | 390 075.5730 |
| Class | Q-acc |
| Number of shares outstanding at the beginning of the financial year | 144 134.9500 |
| Number of shares issued | 121 663.9950 |
| Number of shares redeemed | -65 590.2010 |
| Number of shares outstanding at the end of the financial year | 200 208.7440 |
| Class | U-X-acc |
| Number of shares outstanding at the beginning of the financial year | 15 520.0000 |
| Number of shares issued | 444.0000 |
| Number of shares redeemed | -15 964.0000 |
| Number of shares outstanding at the end of the financial year | 0.0000 |

| Monthly Distribution 1 |  |
| --- | --- |
| UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)* | Ex-Date | Pay-Date | Currency | Amount per share |
| K-B-mdist | 15.6.2021 | 18.6.2021 | USD | 0.09 |
| K-B-mdist | 15.7.2021 | 20.7.2021 | USD | 0.09 |
| K-B-mdist | 16.8.2021 | 19.8.2021 | USD | 0.09 |
| K-B-mdist | 15.9.2021 | 20.9.2021 | USD | 0.09 |
| K-B-mdist | 15.10.2021 | 20.10.2021 | USD | 0.09 |
| K-B-mdist | 15.11.2021 | 18.11.2021 | USD | 0.09 |
| K-B-mdist | 15.12.2021 | 20.12.2021 | USD | 0.09 |
| K-B-mdist | 17.1.2022 | 20.1.2022 | USD | 0.09 |
| K-B-mdist | 15.2.2022 | 18.2.2022 | USD | 0.09 |
| K-B-mdist | 15.3.2022 | 18.3.2022 | USD | 0.09 |
| K-B-mdist | 19.4.2022 | 22.4.2022 | USD | 0.09 |
| K-B-mdist | 16.5.2022 | 19.5.2022 | USD | 0.09 |
| 1  See note 5 |  |  |  |  |

UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
- formerly UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)Annual report and audited financial statements as of 31 May 2022


## Statement of Investments in Securities and other Net Assets as of 31 May 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 |  |  |  |
| CHF |  |  |  |
| CHF	LONZA SWISS FINANCE AG-REG-S 1.00000% 20-28.04.23 | 4 250 000.00 | 4 460 826.25 | 0.64 |
| Total CHF |  | 4 460 826.25 | 0.64 |
| EUR |  |  |  |
| EUR	INTL CONSOLIDATED AIRLINES GROUP-REG-S 0.50000% 19-04.07.23 | 2 000 000.00 | 2 067 221.12 | 0.29 |
| Total EUR |  | 2 067 221.12 | 0.29 |
| GBP |  |  |  |
| GBP	BUPA FINANCE PLC-REG-S-SUB 5.00000% 16-08.12.26 | 1 000 000.00 | 1 310 326.34 | 0.19 |
| Total GBP |  | 1 310 326.34 | 0.19 |
| USD |  |  |  |
| USD	ABBVIE INC 2.60000% 20-21.11.24 | 4 000 000.00 | 3 941 150.12 | 0.56 |
| USD	ABBVIE INC 3.75000% 18-14.11.23 | 1 000 000.00 | 1 014 495.29 | 0.14 |
| USD	ADOBE INC 3.25000% 15-01.02.25 | 3 000 000.00 | 3 015 160.47 | 0.43 |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 4.50000% 20-15.09.23 | 4 000 000.00 | 4 013 795.48 | 0.57 |
| USD	AETNA INC 2.80000% 16-15.06.23 | 1 500 000.00 | 1 502 735.46 | 0.21 |
| USD	AIG GLOBAL FUNDING-REG-S 0.65000% 21-17.06.24 | 1 000 000.00 | 948 017.73 | 0.14 |
| USD	ALLY FINANCIAL INC 1.45000% 20-02.10.23 | 2 500 000.00 | 2 443 577.28 | 0.35 |
| USD	ALLY FINANCIAL INC 3.87500% 19-21.05.24 | 2 500 000.00 | 2 513 003.68 | 0.36 |
| USD	AMERICAN AIRLINES GROUP INC-REG-S 5.00000% 19-01.06.22 | 3 000 000.00 | 3 000 000.00 | 0.43 |
| USD	AMERICAN EXPRESS CO 3.00000% 17-30.10.24 | 2 500 000.00 | 2 493 602.33 | 0.36 |
| USD	AMERICAN TOWER CORP 3.37500% 19-15.05.24 | 1 000 000.00 | 998 656.89 | 0.14 |
| USD	AMERICAN TOWER CORP 0.60000% 20-15.01.24 | 2 000 000.00 | 1 919 066.20 | 0.27 |
| USD	AMGEN INC 3.62500% 14-22.05.24 | 3 000 000.00 | 3 035 112.63 | 0.43 |
| USD	ANALOG DEVICES INC 2.95000% 20-01.04.25 | 500 000.00 | 496 407.31 | 0.07 |
| USD	ANGLO AMERICAN CAPITAL PLC-144A 3.62500% 17-11.09.24 | 2 000 000.00 | 1 990 800.00 | 0.28 |
| USD	ANGLO AMERICAN CAPITAL PLC-REG-S 3.62500% 17-11.09.24 | 485 000.00 | 482 769.00 | 0.07 |
| USD	ANZ NEW ZEALAND INT’L LTD/LONDON-REG-S 2.16600% 22-18.02.25 | 2 000 000.00 | 1 939 689.40 | 0.28 |
| USD	APPLE INC 3.00000% 17-09.02.24 | 5 000 000.00 | 5 031 333.30 | 0.72 |
| USD	APT PIPELINES LTD-REG-S 4.20000% 15-23.03.25 | 2 000 000.00 | 2 009 073.00 | 0.29 |
| USD	APTIV PLC 2.39600% 22-18.02.25 | 1 300 000.00 | 1 256 355.70 | 0.18 |
| USD	ASTRAZENECA FINANCE LLC 0.70000% 21-28.05.24 | 6 100 000.00 | 5 840 233.46 | 0.83 |
| USD	AT&T INC 0.90000% 21-25.03.24 | 2 000 000.00 | 1 927 333.88 | 0.28 |
| USD	AVOLON HOLDINGS FUNDING LTD-REG-S 5.12500% 18-01.10.23 | 500 000.00 | 505 115.00 | 0.07 |
| USD	BANCO SANTANDER SA 2.70600% 19-27.06.24 | 7 000 000.00 | 6 889 380.89 | 0.98 |
| USD	BANCO SANTANDER SA-REG-S 4.12500% 12-09.11.22 | 2 500 000.00 | 2 504 500.00 | 0.36 |
| USD	BANK OF IRELAND GROUP PLC-144A 4.50000% 18-25.11.23 | 500 000.00 | 504 226.76 | 0.07 |
| USD	BANK OF NOVA SCOTIA 0.40000% 21-15.09.23 | 5 000 000.00 | 4 846 549.50 | 0.69 |
| USD	BANK OF NOVA SCOTIA 0.55000% 20-15.09.23 | 3 000 000.00 | 2 913 819.87 | 0.42 |
| USD	BANK OF NOVA SCOTIA/THE 0.70000% 21-15.04.24 | 2 000 000.00 | 1 909 090.20 | 0.27 |
| USD	BANQUE FEDERATIVE DU CREDIT MUT-REG-S 3.75000% 18-20.07.23 | 1 000 000.00 | 1 007 712.48 | 0.14 |
| USD	BANQUE FEDERATIVE DU CREDIT MUTUL-REG-S 0.99800% 21-04.02.25 | 3 000 000.00 | 2 785 978.80 | 0.40 |
| USD	BARCLAYS BANK PLC 3.75000% 14-15.05.24 | 500 000.00 | 504 081.91 | 0.07 |
| USD	BARRY CALLEBAUT SERVICES NV-REG-S 5.50000% 13-15.06.23 | 3 000 000.00 | 3 048 005.10 | 0.44 |
| USD	BAYER US FINANCE II LLC-REG-S 3.87500% 18-15.12.23 | 2 000 000.00 | 2 016 149.52 | 0.29 |
| USD	BBVA BANCOMER SA/TEXAS-REG-S 4.37500% 14-10.04.24 | 3 000 000.00 | 3 000 900.00 | 0.43 |
| USD	BMW US CAPITAL LLC-REG-S 3.80000% 20-06.04.23 | 3 000 000.00 | 3 026 972.25 | 0.43 |
| USD	BMW US CAPITAL LLC-REG-S 0.75000% 21-12.08.24 | 2 275 000.00 | 2 159 596.37 | 0.31 |
| USD	BPCE SA-REG-S 4.00000% 18-12.09.23 | 7 230 000.00 | 7 268 319.00 | 1.04 |
| USD	BRISTOL-MYERS SQUIBB CO 2.90000% 20-26.07.24 | 3 000 000.00 | 3 004 814.88 | 0.43 |
| USD	CANADIAN PACIFIC RAILWAY 1.35000% 21-02.12.24 | 3 000 000.00 | 2 851 836.54 | 0.41 |
| USD	CCO LLC/CAPITAL 4.90800% 16-23.07.25 | 2 500 000.00 | 2 552 698.17 | 0.36 |
| USD	CIGNA CORP 0.61300% 21-15.03.24 | 5 000 000.00 | 4 784 450.50 | 0.68 |
| USD	COCA-COLA EUROPACIFIC PARTNERS PLC-144A 0.80000% 21-03.05.24 | 3 000 000.00 | 2 857 038.06 | 0.41 |
| USD	COMCAST CORP 3.70000% 18-15.04.24 | 3 000 000.00 | 3 049 587.87 | 0.44 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 6.50000% 19-08.04.24 | 4 000 000.00 | 2 860 000.00 | 0.41 |
| USD	CREDIT AGRICOLE SA LONDON-REG-S 2.37500% 19-22.01.25 | 445 000.00 | 430 194.32 | 0.06 |
| USD	CREDIT SUISSE GROUP AG 3.80000% 16-09.06.23 | 3 000 000.00 | 3 012 648.12 | 0.43 |
| USD	DAIMLER FINANCE NORTH AMERICA LLC-REG-S 3.65000% 19-22.02.24 | 2 000 000.00 | 2 015 349.78 | 0.29 |
| USD	DAIMLER FINANCE NORTH AMERICA-REG-S 2.12500% 20-10.03.25 | 3 000 000.00 | 2 884 723.95 | 0.41 |
| USD	DEUTSCHE BANK AG/NEW YORK NY 3.95000% 18-27.02.23 | 3 000 000.00 | 3 011 761.35 | 0.43 |
| USD	DEUTSCHE BANK AG/NEW YORK NY 0.89800% 21-28.05.24 | 2 000 000.00 | 1 894 677.42 | 0.27 |
| USD	DUPONT DE NEMOURS INC 4.20500% 18-15.11.23 | 2 000 000.00 | 2 037 916.18 | 0.29 |
| USD	ELECTRICITE DE FRANCE SA-REG-S 3.62500% 15-13.10.25 | 2 000 000.00 | 1 980 309.20 | 0.28 |
| USD	ENBRIDGE INC 2.50000% 19-15.01.25 | 2 500 000.00 | 2 426 053.10 | 0.35 |
| USD	ENI SPA-REG-S 4.00000% 18-12.09.23 | 3 465 000.00 | 3 497 609.95 | 0.50 |
| USD	EVERSOURCE ENERGY 3.80000% 18-01.12.23 | 1 000 000.00 | 1 008 220.16 | 0.14 |
| USD	EXELON GENERATION CO LLC 3.25000% 20-01.06.25 | 3 000 000.00 | 2 944 134.15 | 0.42 |
| USD	FISERV INC 2.75000% 19-01.07.24 | 3 500 000.00 | 3 450 966.36 | 0.49 |
| USD	FMG RESOURCES AUGUST 2006 PTY LTD-REG-S 5.12500% 17-15.05.24 | 2 350 000.00 | 2 395 284.50 | 0.34 |
| USD	FORD MOTOR CREDIT CO LLC 4.37500% 13-06.08.23 | 3 000 000.00 | 3 001 350.39 | 0.43 |
| USD	GENERAL MOTORS CO 4.87500% 14-02.10.23 | 4 000 000.00 | 4 075 943.48 | 0.58 |
| USD	GENERAL MOTORS CO 5.40000% 20-02.10.23 | 3 000 000.00 | 3 084 310.17 | 0.44 |
| USD	GENERAL MOTORS FINANCIAL CO INC 2.90000% 20-26.02.25 | 1 000 000.00 | 972 288.71 | 0.14 |
| USD	GLENCORE FUNDING LLC-REG-S 4.12500% 19-12.03.24 | 3 510 000.00 | 3 535 464.07 | 0.50 |
| USD	GOLDMAN SACHS GROUP INC 3.50000% 20-01.04.25 | 1 000 000.00 | 998 655.44 | 0.14 |
| USD	HARLEY-DAVIDSON FINANCIAL SERVICE-REG-S 3.35000% 20-08.06.25 | 2 500 000.00 | 2 435 568.02 | 0.35 |
| USD	HEWLETT PACKARD ENTERPRISE CO 4.45000% 20-02.10.23 | 2 500 000.00 | 2 545 850.95 | 0.36 |
| USD	HSBC HOLDINGS PLC-SUB 4.25000% 14-14.03.24 | 3 000 000.00 | 3 035 625.90 | 0.43 |
| USD	ING BANK NV-REG-S-SUB 5.80000% 13-25.09.23 | 2 914 000.00 | 2 989 354.67 | 0.43 |
| USD	ING GROEP NV 3.55000% 19-09.04.24 | 3 898 000.00 | 3 901 563.82 | 0.56 |
| USD	ING GROEP NV 4.10000% 18-02.10.23 | 2 564 000.00 | 2 599 576.09 | 0.37 |
| USD	INVESCO FINANCE PLC 3.75000% 15-15.01.26 | 1 000 000.00 | 998 558.04 | 0.14 |
| USD	KELLOGG CO 2.65000% 16-01.12.23 | 2 000 000.00 | 1 992 900.52 | 0.28 |
| USD	KINDER MORGAN INC 3.15000% 17-15.01.23 | 1 500 000.00 | 1 505 800.11 | 0.22 |

UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
- formerly UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)Annual report and audited financial statements as of 31 May 2022

|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | KROGER CO 4.00000% 14-01.02.24 | 2 000 000.00 | 2 028 274.36 | 0.29 |
| USD | LENNOX INTERNATIONAL INC 1.35000% 20-01.08.25 | 900 000.00 | 827 990.31 | 0.12 |
| USD | LLOYDS BANKING GROUP PLC 4.05000% 18-16.08.23 | 5 000 000.00 | 5 059 066.00 | 0.72 |
| USD | LLOYDS BANKING GROUP PLC 4.45000% 18-08.05.25 | 2 000 000.00 | 2 031 366.98 | 0.29 |
| USD | LLOYDS BANKING GROUP PLC 3.90000% 19-12.03.24 | 1 500 000.00 | 1 507 616.62 | 0.22 |
| USD | LOWE’S COS INC 3.87500% 13-15.09.23 | 1 000 000.00 | 1 011 942.22 | 0.14 |
| USD | MARSH & MCLENNAN COS INC 3.87500% 19-15.03.24 | 3 000 000.00 | 3 034 590.81 | 0.43 |
| USD | METLIFE INC 3.60000% 14-10.04.24 | 3 000 000.00 | 3 043 410.57 | 0.43 |
| USD | MICROSOFT CORP 3.12500% 15-03.11.25 | 2 000 000.00 | 2 015 046.68 | 0.29 |
| USD | MOODY’S CORP 3.75000% 20-24.03.25 | 3 000 000.00 | 3 024 219.69 | 0.43 |
| USD | NATIONAL BANK OF UZBEKISTAN-REG-S 4.85000% 20-21.10.25 | 1 667 000.00 | 1 529 264.13 | 0.22 |
| USD | NATWEST GROUP PLC 3.87500% 16-12.09.23 | 9 000 000.00 | 9 052 631.10 | 1.29 |
| USD | NESTLE HOLDINGS INC-REG-S 0.60600% 21-14.09.24 | 6 000 000.00 | 5 691 316.68 | 0.81 |
| USD | NOMURA HOLDINGS INC 2.64800% 20-16.01.25 | 5 000 000.00 | 4 875 612.00 | 0.70 |
| USD | NORDEA BANK ABP-REG-S 1.00000% 20-09.06.23 | 1 200 000.00 | 1 179 955.82 | 0.17 |
| USD | PARK AEROSPACE HOLDINGS LTD-144A 5.50000% 17-15.02.24 | 4 500 000.00 | 4 541 022.81 | 0.65 |
| USD | PARK AEROSPACE HOLDINGS LTD-REG-S 5.25000% 17-15.08.22 | 58 000.00 | 58 122.77 | 0.01 |
| USD | PLAINS ALL AMERICAN PIPELINE LP 3.85000% 13-15.10.23 | 1 000 000.00 | 1 003 355.04 | 0.14 |
| USD | QUANTA SERVICES INC 0.95000% 21-01.10.24 | 1 325 000.00 | 1 247 885.70 | 0.18 |
| USD | ROPER TECHNOLOGIES INC 3.65000% 18-15.09.23 | 3 000 000.00 | 3 025 300.35 | 0.43 |
| USD | SALESFORCE.COM INC 0.62500% 21-15.07.24 | 2 260 000.00 | 2 155 458.73 | 0.31 |
| USD | SHIMAO PROPERTY HOLDINGS LTD-REG-S 6.12500% 19-21.02.24 | 1 000 000.00 | 140 000.00 | 0.02 |
| USD | SHIMAO PROPERTY HOLDINGS LTD-REG-S 3.97500% 21-16.09.23 | 600 000.00 | 90 000.00 | 0.01 |
| USD | SHINHAN BANK CO LTD-REG-S 3.87500% 18-05.11.23 | 1 000 000.00 | 1 012 140.00 | 0.14 |
| USD | SOCIETE GENERALE SA-REG-S-SUB 5.00000% 14-17.01.24 | 500 000.00 | 507 001.32 | 0.07 |
| USD | SOCIETE GENERALE-REG-S 2.62500% 19-16.10.24 | 7 030 000.00 | 6 845 486.26 | 0.98 |
| USD | SOUTHWEST AIRLINES CO 4.75000% 20-04.05.23 | 2 515 000.00 | 2 555 465.49 | 0.36 |
| USD | SPRINGLEAF FINANCE CORP 6.12500% 19-15.03.24 | 2 000 000.00 | 2 020 292.96 | 0.29 |
| USD | SUMITOMO MITSUI BANKING CORP 3.95000% 13-19.07.23 | 3 000 000.00 | 3 038 489.10 | 0.43 |
| USD | SUNCORP-METWAY LTD-REG-S 3.30000% 19-15.04.24 | 430 000.00 | 429 775.59 | 0.06 |
| USD | SVENSKA HANDELSBANKEN AB-REG-S 0.55000% 21-11.06.24 | 2 250 000.00 | 2 133 601.40 | 0.30 |
| USD | SWEDBANK AB-REG-S 0.60000% 20-25.09.23 | 3 000 000.00 | 2 907 236.07 | 0.42 |
| USD | TELECOM ITALIA SPA-144A 5.30300% 14-30.05.24 | 2 000 000.00 | 2 029 200.00 | 0.29 |
| USD | TENCENT HOLDINGS LTD-REG-S 3.28000% 19-11.04.24 | 2 000 000.00 | 1 990 440.00 | 0.28 |
| USD | THERMO FISHER SCIENTIFIC INC 1.21500% 21-18.10.24 | 650 000.00 | 622 393.37 | 0.09 |
| USD | TOTAL CAPITAL INTERNATIONAL SA 3.75000% 14-10.04.24 | 2 400 000.00 | 2 441 358.48 | 0.35 |
| USD | UBS AG LONDON-144A 1.37500% 22-13.01.25 | 2 000 000.00 | 1 897 109.00 | 0.27 |
| USD | UNITED PARCEL SERVICE INC 3.90000% 20-01.04.25 | 1 500 000.00 | 1 531 640.25 | 0.22 |
| USD | UZBEK INDUSTRIAL AND CONS ATB-REG-S 5.75000% 19-02.12.24 | 1 000 000.00 | 911 380.00 | 0.13 |
| USD | VERIZON COMMUNICATIONS INC 0.85000% 20-20.11.25 | 6 333 000.00 | 5 843 797.28 | 0.83 |
| USD | VMWARE INC 4.50000% 20-15.05.25 | 4 796 000.00 | 4 887 552.76 | 0.70 |
| USD | WILLIAMS COMPANIES INC 4.55000% 14-24.06.24 | 3 000 000.00 | 3 050 288.10 | 0.44 |
| Total USD |  |  | 294 153 948.00 | 41.96 |
| Total Notes, fixed rate |  | 301 992 321.71 | 43.08 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	ABN AMRO BANK NV-REG-S-SUB 4.400%/VAR 17-27.03.28 | 5 200 000.00 | 5 196 141.60 | 0.74 |
| USD	BANCO SANTANDER SA 0.701%/VAR 21-30.06.24 | 2 200 000.00 | 2 135 544.69 | 0.30 |
| USD	BANK OF AMERICA CORP 3.550%/3M LIBOR+78BP 18-05.03.24 | 5 500 000.00 | 5 521 742.87 | 0.79 |
| USD	BNP PARIBAS-REG-S 2.819% /VAR 19-19.11.25 | 5 000 000.00 | 4 836 141.70 | 0.69 |
| USD	CITIGROUP INC 2.014%/VAR 22-25.01.26 | 3 000 000.00 | 2 855 066.19 | 0.41 |
| USD	CITIGROUP INC 3.352%/VAR 19-24.04.25 | 7 000 000.00 | 6 952 967.98 | 0.99 |
| USD	CREDIT SUISSE GROUP AG-REG-S 4.207%/VAR 18-12.06.24 | 8 000 000.00 | 8 019 678.32 | 1.14 |
| USD	DNB BANK ASA-REG-S 0.856%/VAR 21-30.09.25 | 3 660 000.00 | 3 440 765.12 | 0.49 |
| USD	ELECTRICITE DE FRANCE SA-REG-S-SUB 5.625%/VAR 14-PRP | 2 800 000.00 | 2 736 440.00 | 0.39 |
| USD	GOLDMAN SACHS GROUP INC 2.905%/VAR 17-24.07.23 | 3 000 000.00 | 3 000 421.74 | 0.43 |
| USD	HSBC HOLDINGS PLC 4.292%/VAR 18-12.09.26 | 4 000 000.00 | 3 985 495.76 | 0.57 |
| USD	JPMORGAN CHASE & CO 3.220%/VAR 17-01.03.25 | 7 000 000.00 | 6 960 673.44 | 0.99 |
| USD	JPMORGAN CHASE & CO 3.797%/VAR 18-23.07.24 | 8 000 000.00 | 8 045 620.96 | 1.15 |
| USD	JPMORGAN CHASE & CO 0.824%/VAR 21-01.06.25 | 1 000 000.00 | 948 105.92 | 0.13 |
| USD	JPMORGAN CHASE 1.561%/VAR 21-10.12.25 | 4 000 000.00 | 3 795 078.52 | 0.54 |
| USD	MORGAN STANLEY 0.790%/VAR 21-30.05.25 | 9 000 000.00 | 8 494 011.90 | 1.21 |
| USD	MORGAN STANLEY 3.737%/VAR 18-24.04.24 | 7 657 000.00 | 7 689 971.73 | 1.10 |
| USD	NATIONWIDE BUILDING SOCIETY-144A 4.363%/VAR 18-01.08.24 | 2 000 000.00 | 2 018 241.96 | 0.29 |
| USD	PRUDENTIAL FINANCIAL INC-SUB 5.875%/VAR 12-15.09.42 | 2 000 000.00 | 1 991 909.48 | 0.28 |
| USD	SANTANDER UK GRP HOLD PLC 4.796%/3M LIBOR+157BP 18-15.11.24 | 2 000 000.00 | 2 029 317.32 | 0.29 |
| USD	SOCIETE GENERALE SA-REG-S 2.226%/VAR 22-21.01.26 | 1 620 000.00 | 1 526 610.39 | 0.22 |
| USD	STANDARD CHARTERED PLC-REG-S 3.885%/VAR 18-15.03.24 | 11 190 000.00 | 11 210 208.69 | 1.60 |
| USD	UBS GROUP AG-REG-S 2.859%/VAR 17-15.08.23 | 2 000 000.00 | 1 999 920.00 | 0.29 |
| Total USD |  | 105 390 076.28 | 15.03 |
| Total Notes, floating rate |  | 105 390 076.28 | 15.03 |
| Medium term notes, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	CELLNEX TELECOM SA-REG-S 2.87500% 17-18.04.25 | 1 500 000.00 | 1 607 421.34 | 0.23 |
| EUR	CELLNEX TELECOM SAU-REG-S 3.12500% 15-27.07.22 | 2 000 000.00 | 2 148 404.73 | 0.31 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 2.00000% 21-14.07.24 | 2 400 000.00 | 2 515 260.72 | 0.36 |
| EUR	FORTUM OYJ-REG-S 0.87500% 19-27.02.23 | 2 000 000.00 | 2 124 781.53 | 0.30 |
| EUR	WIZZ AIR FINANCE CO BV-REG-S 1.35000% 21-19.01.24 | 1 400 000.00 | 1 437 495.38 | 0.20 |
| Total EUR |  | 9 833 363.70 | 1.40 |
| USD |  |  |  |
| USD	AAREAL BANK AG-REG-S 0.62500% 21-14.02.25 | 2 000 000.00 | 1 867 768.54 | 0.27 |
| USD	ADCB FINANCE CAYMAN LTD-REG-S-SUB 4.50000% 13-06.03.23 | 4 000 000.00 | 4 033 250.00 | 0.58 |
| USD	AGRICULTURAL BANK OF CHINA LTD/NE-REG-S 1.50000% 22-18.01.25 | 1 000 000.00 | 959 990.00 | 0.14 |
| USD	AIB GROUP PLC-REG-S 4.75000% 18-12.10.23 | 3 500 000.00 | 3 525 205.32 | 0.50 |
| USD	ARAB PETROLEUM INVESTMENTS CORP-REG-S 1.46000% 20-30.06.25 | 1 000 000.00 | 945 000.00 | 0.14 |
| USD	BANK OF CHINA LTD-REG-S-SUB 5.00000% 14-13.11.24 | 3 000 000.00 | 3 104 850.00 | 0.44 |
| USD	BNP PARIBAS-REG-S 3.80000% 17-10.01.24 | 4 000 000.00 | 4 013 856.76 | 0.57 |
| USD	CREDIT AGRICOLE SA LONDON-REG-S 3.25000% 17-04.10.24 | 4 000 000.00 | 3 950 857.48 | 0.56 |

UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
- formerly UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)Annual report and audited financial statements as of 31 May 2022

|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  |  | Nominal | Unrealized gain | of net |
|  |  |  | (loss) on Futures/ | assets |
|  |  |  | Forward |  |
|  |  |  | Exchange Contracts/ |  |
|  |  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | GOLDMAN SACHS GROUP INC STEP-UP 18-31.05.24 | 1 258 000.00 | 1 270 882.80 | 0.18 |
| USD | JOHN DEERE CAPITAL CORP 0.625000% 21-10.09.24 | 910 000.00 | 865 951.67 | 0.12 |
| USD | MDGH - GMTN BV-REG-S 2.50000% 19-07.11.24 | 2 000 000.00 | 1 962 250.00 | 0.28 |
| USD | OVERSEA-CHINESE BANKING CORP-144A-SUB 4.25000% 14-19.06.24 | 2 000 000.00 | 2 034 891.20 | 0.29 |
| USD | QNB FINANCE LTD-REG-S 3.50000% 19-28.03.24 | 2 000 000.00 | 1 997 250.00 | 0.29 |
| USD | SWIRE PACIFIC MTN FINANCING LTD-REG-S 4.50000% 13-09.10.23 | 1 500 000.00 | 1 531 253.85 | 0.22 |
| USD | SWIRE PROPERTIES MTN FINANCING-REG-S 4.37500% 12-18.06.22 | 2 000 000.00 | 2 001 300.00 | 0.29 |
| USD | TORONTO-DOMINION BANK 3.25000% 19-11.03.24 | 3 000 000.00 | 3 013 559.52 | 0.43 |
| USD | TOYOTA MOTOR CREDIT CORP 1.45000% 22-13.01.25 | 1 700 000.00 | 1 632 855.95 | 0.23 |
| USD | YAPI VE KREDI BANKASI AS-REG-S 6.10000% 18-16.03.23 | 2 000 000.00 | 1 977 250.00 | 0.28 |
| Total USD |  |  | 40 688 223.09 | 5.81 |
| Total Medium term notes, fixed rate |  | 50 521 586.79 | 7.21 |
| Medium term notes, zero coupon |  |  |  |
| EUR |  |  |  |
| EUR	BECTON DICKINSON AND CO 0.00000% 21-13.08.23 | 840 000.00 | 888 751.25 | 0.13 |
| Total EUR |  | 888 751.25 | 0.13 |
| Total Medium term notes, zero coupon |  | 888 751.25 | 0.13 |
| Medium term notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	ALLIANZ SE-REG-S-SUB 4.750%/3M EURIBOR+360BP 13-PRP | 1 500 000.00 | 1 663 147.77 | 0.24 |
| Total EUR |  | 1 663 147.77 | 0.24 |
| USD |  |  |  |
| USD	AIB GROUP PLC-REG-S 4.263%/VAR 19-10.04.25 | 1 500 000.00 | 1 493 112.67 | 0.21 |
| USD	BANK OF AMERICA CORP 0.981%/VAR 20-25.09.25 | 3 000 000.00 | 2 814 069.54 | 0.40 |
| USD	BANK OF AMERICA CORP 0.810%/VAR 20-24.10.24 | 7 000 000.00 | 6 750 907.80 | 0.96 |
| USD	DBS GROUP HOLDINGS LTD-144A-SUB 4.520%/VAR 18-11.12.28 | 3 000 000.00 | 3 045 438.48 | 0.43 |
| USD	MACQUARIE GROUP LTD-144A 1.201%/VAR 21-14.10.25 | 4 000 000.00 | 3 755 730.80 | 0.54 |
| USD	MACQUARIE GROUP LTD-REG-S 4.150%/3M LIBOR+133BP 18-27.03.24 | 2 530 000.00 | 2 546 227.93 | 0.36 |
| USD	RABOBANK NEDERLAND NV-REG-S-SUB 4.000%/VAR 17-10.04.29 | 3 000 000.00 | 2 977 380.00 | 0.43 |
| USD	UNITED OVERSEAS BANK LTD-REG-S-SUB 3.750%/VAR 19-15.04.29 | 2 453 000.00 | 2 457 107.30 | 0.35 |
| Total USD |  | 25 839 974.52 | 3.68 |
| Total Medium term notes, floating rate |  | 27 503 122.29 | 3.92 |
| Bonds, fixed rate |  |  |  |
| CHF |  |  |  |
| CHF	KUEHNE+NAGEL INTERNATIONAL AG-REG-S 0.02000% 19-18.11.22 | 4 570 000.00 | 4 767 140.99 | 0.68 |
| Total CHF |  | 4 767 140.99 | 0.68 |
| EUR |  |  |  |
| EUR	WIENERBERGER AG-REG-S 2.00000% 18-02.05.24 | 2 000 000.00 | 2 147 689.13 | 0.31 |
| Total EUR |  | 2 147 689.13 | 0.31 |
| GBP |  |  |  |
| GBP	JAGUAR LAND ROVER AUTOMOTIVE PLC-REG-S 3.87500% 15-01.03.23 | 500 000.00 | 617 511.72 | 0.09 |
| Total GBP |  | 617 511.72 | 0.09 |
| USD |  |  |  |
| USD	BP CAPITAL MARKETS PLC 3.81400% 14-10.02.24 | 2 500 000.00 | 2 539 713.40 | 0.36 |
| USD	CANADIAN IMPERIAL BANK OF-REG-S 1.15000% 21-08.07.26 | 3 000 000.00 | 2 745 043.08 | 0.39 |
| USD	CK HUTCHISON INTERNATIONAL LTD-REG-S 3.25000% 19-11.04.24 | 4 000 000.00 | 4 021 825.08 | 0.57 |
| USD	DANONE-REG-S 2.58900% 16-02.11.23 | 729 000.00 | 725 994.82 | 0.10 |
| USD	DEUTSCHE BANK AG/LONDON 3.70000% 14-30.05.24 | 5 000 000.00 | 4 979 790.35 | 0.71 |
| USD	GILEAD SCIENCES INC 3.70000% 14-01.04.24 | 3 000 000.00 | 3 038 707.26 | 0.43 |
| USD	KINDER MORGAN INC 4.30000% 14-01.06.25 | 2 000 000.00 | 2 027 523.76 | 0.29 |
| USD	LG CHEM LTD-REG-S 3.25000% 19-15.10.24 | 2 000 000.00 | 1 991 080.00 | 0.29 |
| USD	MIZUHO FINANCE GRP CAY 3 LTD-REG-S-SUB 4.60000% 14-27.03.24 | 5 000 000.00 | 5 055 860.40 | 0.72 |
| USD	NOVARTIS CAPITAL CORP 3.40000% 14-06.05.24 | 2 000 000.00 | 2 026 864.70 | 0.29 |
| USD	SOUTHERN CALIFORNIA EDISON CO 0.70000% 21-01.08.23 | 1 000 000.00 | 973 786.96 | 0.14 |
| USD	SUMITOMO MITSUI FIN GP INC-144A-SUB 4.43600% 14-02.04.24 | 1 500 000.00 | 1 516 707.54 | 0.22 |
| USD	UBS AG-REG-S-SUB 5.12500% 14-15.05.24 | 3 400 000.00 | 3 450 320.00 | 0.49 |
| USD	UNILEVER CAPITAL CORP 3.25000% 18-07.03.24 | 1 500 000.00 | 1 510 659.60 | 0.22 |
| Total USD |  | 36 603 876.95 | 5.22 |
| Total Bonds, fixed rate |  | 44 136 218.79 | 6.30 |
| Bonds, floating rate |  |  |  |
| USD |  |  |  |
| USD	ALLSTATE CORP-SUB 5.750%/3M LIBOR+293.8BP 13-15.08.53 | 250 000.00 | 233 748.77 | 0.03 |
| USD	BP CAPITAL MARKETS PLC-SUB 4.375%/VAR 20-PRP | 3 800 000.00 | 3 701 649.84 | 0.53 |
| USD	NBK TIER 1 FINANCING 2 LTD-REG-S-SUB 4.500%/VAR 19-PRP | 3 300 000.00 | 3 126 337.50 | 0.45 |
| USD	SKANDINAVISKA ENSKILDA BANKEN-REG-S-SUB 5.125%/VAR 19-PRP | 3 000 000.00 | 2 868 750.00 | 0.41 |
| USD	SSE PLC-REG-S-SUB 4.750%/VAR 17-16.09.77 | 2 000 000.00 | 2 000 000.00 | 0.29 |
| USD	SWISS RE FINANCE LUXEMBOURG-REG-S-SUB 4.250%/VAR 19-PRP | 2 000 000.00 | 1 910 200.00 | 0.27 |
| USD	VODAFONE GROUP PLC-REG-S-SUB 6.250%/VAR 18-03.10.78 | 3 000 000.00 | 3 014 568.00 | 0.43 |
| Total USD |  | 16 855 254.11 | 2.41 |
| Total Bonds, floating rate |  | 16 855 254.11 | 2.41 |

UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
- formerly UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)Annual report and audited financial statements as of 31 May 2022

| Description	Quantity/ | Valuation in USD | as a % |
| --- | --- | --- |
| Nominal | Unrealized gain | of net |
|  | (loss) on Futures/ | assets |
|  | Forward |  |
|  | Exchange Contracts/ |  |
|  | Swaps (Note 1) |  |

Convertible bonds, floating rate
| USD |  |
| --- | --- |
| USD | BANK OF MONTREAL-SUB 4.338%/VAR 18-05.10.28 | 5 000 000.00 | 5 047 292.15 | 0.72 |
| USD | BARCLAYS PLC-SUB COCO 8.000%/VAR 19-PRP | 3 000 000.00 | 3 113 707.02 | 0.44 |
| Total USD |  |  | 8 160 999.17 | 1.16 |
| Total Convertible bonds, floating rate |  | 8 160 999.17 | 1.16 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 555 448 330.39 | 79.24 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Asset Backed Securities, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AMERICREDIT AUTOMOBILE RECEIVABLE TRUST 4.04000% 18-18.11.24 | 1 100 000.00 | 1 106 265.27 | 0.16 |
| USD	COLT MERGER SUB INC-144A 3.60000% 18-25.02.48 | 4 338 000.00 | 1 676 203.39 | 0.24 |
| USD	EXETER AUTOMOBILE RECEIVABLE TRUST-144A 3.53000% 18-15.11.23 | 520 000.00 | 176 108.97 | 0.02 |
| USD	EXETER AUTOMOBILE RECEIVABLES-144A 4.35000% 18-16.09.24 | 865 000.00 | 487 423.62 | 0.07 |
| Total USD |  | 3 446 001.25 | 0.49 |
| Total Asset Backed Securities, fixed rate |  | 3 446 001.25 | 0.49 |
| Mortgage Backed Securities, fixed rate |  |  |  |
| USD |  |  |  |
| USD	BWAY 2013-1515 MORTGAGE TRUST-144A 3.45430% 13-10.03.33 | 4 000 000.00 | 3 883 074.00 | 0.56 |
| USD	COMM 2015-3BP MORTGAGE TRUST-144A-SUB 3.17800% 15-01.02.35 | 4 055 000.00 | 3 927 876.97 | 0.56 |
| USD	COMM 2015-CCRE22 MORTGAGE TRUST 3.92600% 15-01.03.48 | 1 000 000.00 | 981 659.50 | 0.14 |
| USD	JP MORGAN CHASE MORTGAGE SEC-144A 3.73450% 18-01.01.31 | 2 605 000.00 | 2 601 673.15 | 0.37 |
| Total USD |  | 11 394 283.62 | 1.63 |
| Total Mortgage Backed Securities, fixed rate |  | 11 394 283.62 | 1.63 |
| Mortgage Backed Securities, floating rate |  |  |  |
| USD |  |  |  |
| USD	BAMLL COMMERCIAL MORTGAGE-144A 3.21800% 15-01.04.33 | 3 750 000.00 | 3 624 676.88 | 0.52 |
| USD	CITYLINE COMMERCIAL MORTGAGE TRUST VAR 21-01.11.31 | 1 000 000.00 | 968 935.30 | 0.14 |
| USD	COMM 2014-CCRE15 MORTGAGE TRUST-SUB VAR 14-01.02.47 | 325 000.00 | 325 537.00 | 0.04 |
| USD	COMMERCIAL MORTGAGE PASS-THR-144A 3.812163%/VAR 13-01.06.46 | 2 500 000.00 | 2 503 689.00 | 0.36 |
| USD	MSCG TRUST 2018-SELF-144A-SUB 1M LIBOR+90BP 18-15.10.37 | 1 000 000.00 | 984 370.80 | 0.14 |
| Total USD |  | 8 407 208.98 | 1.20 |
| Total Mortgage Backed Securities, floating rate |  | 8 407 208.98 | 1.20 |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AUSTRALIA & NEW ZEALAND BNK-REG-S-SUB 4.50000% 14-19.03.24 | 5 000 000.00 | 5 051 724.80 | 0.72 |
| USD	BAKER HUGHES HOLDINGS LLC / BAKER HUGH 1.23100% 21-15.12.23 | 1 500 000.00 | 1 464 461.67 | 0.21 |
| USD	BANK OF NEW ZEALAND-144A 3.50000% 19-20.02.24 | 4 885 000.00 | 4 908 391.92 | 0.70 |
| USD	BAYER US FINANCE LLC-144A 3.37500% 14-08.10.24 | 2 000 000.00 | 1 983 836.26 | 0.28 |
| USD	BERRY GLOBAL INC 0.95000% 21-15.02.24 | 1 000 000.00 | 951 388.44 | 0.14 |
| USD	CITADEL LP-REG-S 5.37500% 17-17.01.23 | 500 000.00 | 503 259.99 | 0.07 |
| USD	DELL INTERNATIONAL LLC / EMC CORP 5.45000% 21-15.06.23 | 1 036 000.00 | 1 056 458.61 | 0.15 |
| USD	DELTA AIR LINES INC / SKYMILES-REG-S 4.50000% 20-20.10.25 | 3 000 000.00 | 2 992 813.83 | 0.43 |
| USD	ENEL FINANCE INTERNATIONAL SA-144A 2.65000% 19-10.09.24 | 2 400 000.00 | 2 343 152.72 | 0.33 |
| USD	ERAC USA FINANCE LLC-144A 2.70000% 16-01.11.23 | 1 000 000.00 | 993 320.76 | 0.14 |
| USD	GLENCORE FUNDING LLC-144A 4.12500% 13-30.05.23 | 750 000.00 | 756 705.00 | 0.11 |
| USD	GLP CAPITAL LP / GLP FINANC II INC 5.37500% 14-01.11.23 | 1 000 000.00 | 1 012 240.00 | 0.14 |
| USD	LIBERTY MUTUAL GROUP INC-144A 4.25000% 13-15.06.23 | 1 850 000.00 | 1 863 608.62 | 0.27 |
| USD	NORDEA BANK AB-144A 0.62500% 21-24.05.24 | 2 400 000.00 | 2 277 617.81 | 0.33 |
| USD	NXP BV / NXP FUNDING LLC 4.87500% 22-01.03.24 | 3 000 000.00 | 3 051 660.00 | 0.44 |
| USD	RABOBANK UTRECHT-144A 2.62500% 19-22.07.24 | 2 000 000.00 | 1 966 221.84 | 0.28 |
| USD	ROCHE HOLDINGS INC-144A 0.45000% 21-05.03.24 | 5 000 000.00 | 4 791 524.65 | 0.68 |
| USD	SCHLUMBERGER HOLDINGS CORP-144A 3.75000% 19-01.05.24 | 500 000.00 | 504 757.63 | 0.07 |
| USD	SQUARE INC-144A 2.75000% 21-01.06.26 | 1 000 000.00 | 922 325.00 | 0.13 |
| USD	SUNCORP-METWAY LTD-144A 3.30000% 19-15.04.24 | 2 350 000.00 | 2 351 653.46 | 0.34 |
| Total USD |  | 41 747 123.01 | 5.96 |
| Total Notes, fixed rate |  | 41 747 123.01 | 5.96 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	MACQUARIE GROUP LTD-144A 3.189%/VAR 17-28.11.23 | 2 800 000.00 | 2 799 744.36 | 0.40 |
| Total USD |  | 2 799 744.36 | 0.40 |
| Total Notes, floating rate |  | 2 799 744.36 | 0.40 |

UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
- formerly UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)Annual report and audited financial statements as of 31 May 2022

| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |

Medium term notes, fixed rate
| USD |  |
| --- | --- |
| USD | ASB BANK LTD-REG-S 3.12500% 19-23.05.24 | 1 500 000.00 | 1 497 605.70 | 0.21 |
| USD | BRIGHTHOUSE FINANCIAL GLOBAL FUND-REG-S 0.60000% 21-28.06.23 | 1 200 000.00 | 1 169 525.35 | 0.17 |
| USD | CREDIT AGRICOLE SA LONDON-144A 3.25000% 17-04.10.24 | 2 700 000.00 | 2 666 828.80 | 0.38 |
| USD | INTESA SANPAOLO SPA-144A-SUB 5.01700% 14-26.06.24 | 2 000 000.00 | 1 991 062.14 | 0.28 |
| Total USD |  |  | 7 325 021.99 | 1.04 |
| Total Medium term notes, fixed rate |  | 7 325 021.99 | 1.04 |
| Bonds, floating rate |  |  |  |
| USD |  |  |  |
| USD	SCENTRE GROUP TRUST 2-REG-S-SUB 4.750%/VAR 20-24.09.80 | 3 700 000.00 | 3 521 144.59 | 0.50 |
| Total USD |  | 3 521 144.59 | 0.50 |
| Total Bonds, floating rate |  | 3 521 144.59 | 0.50 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 78 640 527.80 | 11.22 |

Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market
Notes, fixed rate
| USD |  |
| --- | --- |
| USD | ATHENE GLOBAL FUNDING-REG-S 1.20000% 20-13.10.23 | 2 000 000.00 | 1 939 346.94 | 0.28 |
| USD | SIEMENS FINANCIERINGSMAATSCHAPPIJ-144A 0.65000% 21-11.03.24 | 5 000 000.00 | 4 809 034.30 | 0.69 |
| USD | SWEDBANK AB-REG-S 3.35600% 22-04.04.25 | 1 156 000.00 | 1 150 220.00 | 0.16 |
| USD | TRITON CONTAINER INTERNATIONAL-REG-S 1.15000% 21-07.06.24 | 585 000.00 | 553 117.50 | 0.08 |
| Total USD |  |  | 8 451 718.74 | 1.21 |
| Total Notes, fixed rate |  | 8 451 718.74 | 1.21 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	NBN CO LTD-REG-S 0.87500% 21-08.10.24 | 3 600 000.00 | 3 394 166.04 | 0.48 |
| Total USD |  | 3 394 166.04 | 0.48 |
| Total Medium term notes, fixed rate | 3 394 166.04 | 0.48 |
| Total Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market | 11 845 884.78 | 1.69 |
| UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 |  |  |
| Investment funds, open end |  |  |
| Ireland |  |  |
| USD	UBS (IRL) SELECT MONEY MARKET FUND-USD-S-DIST	2 000.00 | 20 000 000.00 | 2.85 |
| Total Ireland | 20 000 000.00 | 2.85 |
| Total Investment funds, open end | 20 000 000.00 | 2.85 |
| Total UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 | 20 000 000.00 | 2.85 |
| Total investments in securities | 665 934 742.97 | 95.00 |

| Derivative instruments |  |
| --- | --- |
| Derivative instruments listed on an official stock exchange |
| Financial Futures on bonds |
|  |  |  |  |
| USD	US 5YR TREASURY NOTE FUTURE 30.09.22 | -140.00 | -24 062.50 | 0.00 |
| USD	US 2YR TREASURY NOTE FUTURE 30.09.22 | 480.00 | 187 499.52 | 0.02 |
| Total Financial Futures on bonds |  | 163 437.02 | 0.02 |
| Total Derivative instruments listed on an official stock exchange |  | 163 437.02 | 0.02 |
| Total Derivative instruments |  | 163 437.02 | 0.02 |
| Forward Foreign Exchange contracts |  |  |  |
| Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date |  |  |  |

| USD | 2 853 931.92 | EUR | 2 400 000.00 | 30.6.2022 | 278 930.89 | 0.04 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 994 926.79 | EUR | 842 500.00 | 10.8.2022 | 88 927.41 | 0.01 |
| USD | 1 251 438.37 | EUR | 1 058 000.00 | 10.8.2022 | 113 696.71 | 0.02 |
| USD | 1 266 239.96 | EUR | 1 060 000.00 | 10.8.2022 | 126 347.56 | 0.02 |
| USD | 4 790 082.33 | CHF | 4 360 000.00 | 2.9.2022 | 216 207.97 | 0.03 |
| USD | 1 617 785.05 | EUR | 1 370 000.00 | 4.8.2022 | 145 018.45 | 0.02 |
| USD | 4 985 600.06 | CHF | 4 584 000.00 | 2.9.2022 | 176 737.65 | 0.03 |
| USD | 3 564 690.00 | EUR | 3 100 000.00 | 2.9.2022 | 226 780.50 | 0.02 |

UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
- formerly UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)Annual report and audited financial statements as of 31 May 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 (Continued)
Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date
| USD | 2 321 542.35 | EUR | 2 015 000.00 | 27.2.2023 | 126 375.97 | 0.02 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 2 672 509.20 | GBP | 2 000 000.00 | 1.3.2023 | 142 878.37 | 0.02 |
| USD | 558 398.90 | EUR | 500 000.00 | 19.1.2023 | 15 125.37 | 0.00 |
| EUR | 276 050 800.00 | USD | 290 969 689.44 | 2.6.2022 | 4 749 730.03 | 0.68 |
| CHF | 180 720 300.00 | USD | 186 079 003.13 | 2.6.2022 | 2 456 075.88 | 0.35 |
| USD | 4 767 931.37 | CHF | 4 707 700.00 | 2.6.2022 | -143 340.86 | -0.02 |
| USD | 608 432.98 | CHF | 610 000.00 | 2.6.2022 | -27 944.88 | 0.00 |
| USD | 2 109 845.12 | EUR | 1 930 000.00 | 30.5.2023 | -4 668.07 | 0.00 |
| USD | 1 660 808.32 | EUR | 1 516 000.00 | 30.5.2023 | -125.36 | 0.00 |
| EUR | 276 050 800.00 | USD | 296 714 858.68 | 1.7.2022 | -517 307.28 | -0.08 |
| CHF | 175 402 600.00 | USD | 183 031 155.53 | 1.7.2022 | 269 394.93 | 0.04 |
| Total Forward Foreign Exchange contracts | 8 438 841.24 | 1.20 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 13 256 878.84 | 1.89 |
| Other assets and liabilities | 13 183 715.68 | 1.89 |
| Total net assets | 700 977 615.75 | 100.00 |

UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
- formerly UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)Annual report and audited financial statements as of 31 May 2022

Translation (ENFR, 2022-05-31):
# UBS (Lux) Bond SICAV
– Short Term USD Corporates Sustainable (USD)*
| Comparaison sur trois ans |  |
| --- | --- |
|  | ISIN | 31.5.2022 | 31.5.2021 | 31.5.2020 |
| Actif net en USD |  | 700 977 615.75 | 1 008 206 695.37 | 877 789 937.60 |
| Catégorie F-acc | LU0396352246 |  |  |  |
| Actions en circulation |  | 231 925.0000 | 354 929.2490 | 419 131.3950 |
| Valeur nette d’inventaire par action en USD |  | 111.82 | 115.73 | 111.94 |
| Prix d’émission et de rachat par action en USD 1 |  | 111.82 | 115.73 | 111.94 |
| Catégorie (CHF hedged) F-acc | LU1289971720 |  |  |  |
| Actions en circulation |  | 233 062.0000 | 392 668.0000 | 301 244.0000 |
| Valeur nette d’inventaire par action en CHF |  | 98.34 | 102.89 | 100.71 |
| Prix d’émission et de rachat par action en CHF 1 |  | 98.34 | 102.89 | 100.71 |
| Catégorie (EUR hedged) F-acc | LU1717044058 |  |  |  |
| Actions en circulation |  | 176 305.8240 | 194 570.7880 | 253 762.7880 |
| Valeur nette d’inventaire par action en EUR |  | 98.99 | 103.32 | 100.93 |
| Prix d’émission et de rachat par action en EUR 1 |  | 98.99 | 103.32 | 100.93 |
| Catégorie I-A1-acc | LU0849031678 |  |  |  |
| Actions en circulation |  | 63 547.7350 | 367 843.0520 | 104 598.6990 |
| Valeur nette d’inventaire par action en USD |  | 114.44 | 118.60 | 114.88 |
| Prix d’émission et de rachat par action en USD 1 |  | 114.44 | 118.60 | 114.88 |
| Catégorie I-A2-acc | LU0838529096 |  |  |  |
| Actions en circulation |  | 10 809.4490 | 21 153.0110 | 28 776.7380 |
| Valeur nette d’inventaire par action en USD |  | 115.25 | 119.39 | 115.59 |
| Prix d’émission et de rachat par action en USD 1 |  | 115.25 | 119.39 | 115.59 |
| Catégorie (EUR hedged) I-A3-acc 2 | LU2352401819 |  |  |  |
| Actions en circulation |  | 1 660 237.5670 | - | - |
| Valeur nette d’inventaire par action en EUR |  | 95.92 | - | - |
| Prix d’émission et de rachat par action en EUR 1 |  | 95.92 | - | - |
| Catégorie I-B-acc | LU0396353483 |  |  |  |
| Actions en circulation |  | 352 423.9550 | 775 546.7270 | 432 286.4070 |
| Valeur nette d’inventaire par action en USD |  | 115.10 | 118.86 | 114.71 |
| Prix d’émission et de rachat par action en USD 1 |  | 115.10 | 118.86 | 114.71 |
| Catégorie (EUR hedged) I-B-acc | LU1323607827 |  |  |  |
| Actions en circulation |  | 343 998.1870 | 678 297.3960 | 446 504.5090 |
| Valeur nette d’inventaire par action en EUR |  | 101.57 | 105.74 | 103.04 |
| Prix d’émission et de rachat par action en EUR 1 |  | 101.57 | 105.74 | 103.04 |
| Catégorie I-X-acc | LU0396353640 |  |  |  |
| Actions en circulation |  | 499 150.5490 | 617 147.4280 | 629 678.4730 |
| Valeur nette d’inventaire par action en USD |  | 115.86 | 119.57 | 115.32 |
| Prix d’émission et de rachat par action en USD 1 |  | 115.86 | 119.57 | 115.32 |
| Catégorie (CHF hedged) I-X-acc | LU0920821211 |  |  |  |
| Actions en circulation |  | 1 534 204.0270 | 2 035 224.9160 | 2 234 861.3020 |
| Valeur nette d’inventaire par action en CHF |  | 100.73 | 105.05 | 102.50 |
| Prix d’émission et de rachat par action en CHF 1 |  | 100.73 | 105.05 | 102.50 |
| Catégorie (EUR hedged) I-X-acc | LU1632887292 |  |  |  |
| Actions en circulation |  | 683 732.7840 | 728 623.6320 | 698 516.7320 |
| Valeur nette d’inventaire par action en EUR |  | 99.99 | 104.03 | 101.30 |
| Prix d’émission et de rachat par action en EUR 1 |  | 99.99 | 104.03 | 101.30 |
| Catégorie (EUR hedged) I-X-UKdist 3 | LU1885553575 |  |  |  |
| Actions en circulation |  | - | - | 66 800.0000 |
| Valeur nette d’inventaire par action en EUR |  | - | - | 101.13 |
| Prix d’émission et de rachat par action en EUR 1 |  | - | - | 101.13 |
| Catégorie (CHF hedged) K-B-acc 4 | LU2273245626 |  |  |  |
| Actions en circulation |  | 5 498.7010 | 5 498.7010 | - |
| Valeur nette d’inventaire par action en CHF |  | 96.08 | 100.28 | - |
| Prix d’émission et de rachat par action en CHF 1 |  | 96.08 | 100.28 | - |
| Catégorie K-B-mdist 5 | LU2204822436 |  |  |  |
| Actions en circulation |  | 30 933.7340 | 92 248.4920 | - |
| Valeur nette d’inventaire par action en USD |  | 96.73 | 101.02 | - |
| Prix d’émission et de rachat par action en USD 1 |  | 96.73 | 101.02 | - |
| Catégorie K-X-acc 6 | LU1564462387 |  |  |  |
| Actions en circulation |  | - | - | 136 879.8750 |
| Valeur nette d’inventaire par action en USD |  | - | - | 110.37 |
| Prix d’émission et de rachat par action en USD 1 |  | - | - | 110.37 |
| Catégorie (EUR hedged) K-X-acc | LU1620846318 |  |  |  |
| Actions en circulation |  | 25.5790 | 25.5790 | 23 475.2070 |
| Valeur nette d’inventaire par action en EUR |  | 99.98 | 104.05 | 101.36 |
| Prix d’émission et de rachat par action en EUR 1 |  | 99.98 | 104.05 | 101.36 |

UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
- anciennement UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)Rapport annuel et états financiers révisés au 31 mai 2022

|  | ISIN | 31.5.2022 | 31.5.2021 | 31.5.2020 |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Catégorie P-acc | LU0151774972 |  |  |  |
| Actions en circulation |  | 390 075.5730 | 415 204.4590 | 341 732.9980 |
| Valeur nette d’inventaire par action en USD |  | 143.95 | 149.83 | 145.74 |
| Prix d’émission et de rachat par action en USD 1 |  | 143.95 | 149.83 | 145.74 |
| Catégorie Q-acc | LU0396352592 |  |  |  |
| Actions en circulation |  | 200 208.7440 | 144 134.9500 | 147 443.7160 |
| Valeur nette d’inventaire par action en USD |  | 116.54 | 120.86 | 117.14 |
| Prix d’émission et de rachat par action en USD 1 |  | 116.54 | 120.86 | 117.14 |
| Catégorie U-X-acc 7 | LU0396353996 |  |  |  |
| Actions en circulation |  | - | 15 520.0000 | 15 617.0000 |
| Valeur nette d’inventaire par action en USD |  | - | 11 458.80 | 11 051.43 |
| Prix d’émission et de rachat par action en USD 1 |  | - | 11 458.80 | 11 051.43 |
| 1  Voir note 1 2  Première VNI 21.6.2021 3  La catégorie d’actions (EUR hedged) I-X-UKdist était en circulation jusqu’au 17.9.2020 4  Première VNI 22.12.2020 5  Première VNI 31.7.2020 6  La catégorie d’actions K-X-acc était en circulation jusqu’au 5.8.2020 7  La catégorie d’actions U-X-acc était en circulation jusqu’au 8.11.2021 |  |  |  |  |
| Performance |  |  |  |  |
|  | Devise | 2021/2022 | 2020/2021 | 2019/2020 |
| Catégorie F-acc | USD | -3.4% | 3.4% | 3.7% |
| Catégorie (CHF hedged) F-acc | CHF | -4.4% | 2.2% | 0.5% |
| Catégorie (EUR hedged) F-acc | EUR | -4.2% | 2.4% | 1.1% |
| Catégorie I-A1-acc | USD | -3.5% | 3.2% | 3.5% |
| Catégorie I-A2-acc | USD | -3.5% | 3.3% | 3.6% |
| Catégorie (EUR hedged) I-A3-acc 1 | EUR | - | - | - |
| Catégorie I-B-acc | USD | -3.2% | 3.6% | 4.0% |
| Catégorie (EUR hedged) I-B-acc | EUR | -3.9% | 2.6% | 1.4% |
| Catégorie I-X-acc | USD | -3.1% | 3.7% | 4.0% |
| Catégorie (CHF hedged) I-X-acc | CHF | -4.1% | 2.5% | 0.9% |
| Catégorie (EUR hedged) I-X-acc | EUR | -3.9% | 2.7% | 1.4% |
| Catégorie (EUR hedged) I-X-UKdist 2 | EUR | - | - | 1.4% |
| Catégorie (CHF hedged) K-B-acc | CHF | -4.2% | - | - |
| Catégorie K-B-mdist | USD | -3.2% | - | - |
| Catégorie K-X-acc 3 | USD | - | - | 4.0% |
| Catégorie (EUR hedged) K-X-acc | EUR | -3.9% | 2.7% | 1.4% |
| Catégorie P-acc | USD | -3.9% | 2.8% | 3.1% |
| Catégorie Q-acc | USD | -3.6% | 3.2% | 3.5% |
| Catégorie U-X-acc 4 | USD | - | 3.7% | 4.0% |
| Benchmark: 5 |  |  |  |  |
| Bloomberg Barclays Eurodollar Corporate 1-3yrs | USD | -3.6% | 2.8% | 4.4% |
| Bloomberg Barclays Eurodollar Corporate 1-3yrs (hedged CHF) | CHF | -4.8% | 1.6% | 1.4% |
| Bloomberg Barclays Eurodollar Corporate 1-3yrs (hedged EUR) | EUR | -4.7% | 1.9% | 1.8% |
| 1  Aucune donnée n’est disponible pour calculer la performance du fonds vu son lancement récent. |  |  |  |  |

2 
La catégorie d’actions (EUR hedged) I-X-UKdist était en circulation jusqu’au 17.9.2020. Dès lors, aucune donnée n’est disponible pour calculer la performance.
3 
La catégorie d’actions K-X-acc était en circulation jusqu’au 5.8.2020. Dès lors, aucune donnée n’est disponible pour calculer la performance.
4 
La catégorie d’actions U-X-acc était en circulation jusqu’au 8.11.2021. Dès lors, aucune donnée n’est disponible pour calculer la performance.
5 
Le compartiment est géré activement. L’indice est un point de référence par rapport auquel le rendement du compartiment peut être mesuré.
La performance historique n’est pas un indicateur de la performance actuelle ou future.
Les données de performance ne tiennent pas compte des commissions et des frais prélevés lors de l’émission et du rachat des actions. Les données de performance ne sont pas auditées.
UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
- anciennement UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)Rapport annuel et états financiers révisés au 31 mai 2022


## Rapport du Gestionnaire de portefeuille
Au cours de l’exercice allant du 1
er 
juin 2021 au 31 mai 2022, les marchés obligataires américains ont affiché une performance négative.
Alors qu’en 2020/2021, l’attention s’était concentré sur la croissance mondiale et la politique budgétaire, le premier trimestre 2022 a été nettement dominé par l’inflation (ou tout au moins les craintes d’inflation) et par la difficulté qu’elle constitue pour les banques centra- les. La réaction des banques centrales et par conséquent la réévaluation de la courbe des rendements ne se sont pas fait attendre. Tandis qu’en décembre, le graphique à points de la Fed ne prévoyait que 3 hausses pour toute l’année 2022, nous avons eu 3 hausses depuis le début de l’année et le marché intègre 7.5 hausses supplémen- taires jusqu’à la fin de l’année. La courbe des taux amé- ricaine a en moyenne progressé de 180 points de base (pb) sur 12 mois, les taux à 2 ans étant les plus touchés, avec une hausse de 260 pb.
Les écarts de crédit des titres d’entreprise américains notés Investment grade se sont progressivement élargis pendant l’exercice financier, s’approchant d’une hausse de 50 pb fin mai 2022. Le marché du crédit reste per- turbé, tandis que nous traversons cette période d’inflation persistante et de resserrement de la politique monétaire. Toutefois, les écarts globaux des entreprises atteignant 130 pb et l’indice des entreprises offrant désormais un rendement de 4.20%, les investisseurs ont désormais un point d’entrée beaucoup plus attrayant qu’en début d’année. Le marché du crédit continue d’être soutenu par de solides fondamentaux d’entreprise et un contexte de croissance (faible taux de chômage et salaires élevés) qui devrait être capable de supporter le resserrement des conditions financières.
Le compartiment a généré une performance négative au cours de l’exercice. Le principal facteur de rende- ment négatif a été la hausse moyenne des rendements de 260 pb, couplée à une duration de 1.9 an, ce qui explique environ 80% du rendement négatif. Le compar- timent a adopté une approche diversifiée en investissant dans une variété de secteurs et émetteurs. À la fin de l’exercice financier, la duration du compartiment ajustée de l’option n’avait guère varié, à 1.9 an. La gestion de la duration, la gestion des écarts et surtout la sélection d’émissions ont apporté une contribution positive à la performance relative.

## Structure du portefeuille-titres
Répartition géographique en % de l’actif net	
| Etats-Unis | 39.40 |
| --- | --- |
| Grande-Bretagne | 10.30 |
| France | 5.23 |
| Irlande | 4.21 |
| Australie | 4.03 |
| Pays-Bas | 4.03 |
| Canada | 3.67 |
| Suisse | 3.51 |
| Iles Caïmans | 3.11 |
| Espagne | 1.82 |
| Allemagne | 1.57 |
| Japon | 1.35 |
| Suède | 1.29 |
| Chine | 1.27 |
| Nouvelle-Zélande | 1.19 |
| Singapour | 1.08 |
| Italie | 1.07 |
| Multinationaux | 0.86 |
| Finlande | 0.80 |
| Mexique | 0.79 |
| Emirats arabes unis | 0.73 |
| Norvège | 0.49 |
| Belgique | 0.43 |
| Guernesey | 0.43 |
| Corée du Sud | 0.43 |
| Ouzbékistan | 0.35 |
| Autriche | 0.31 |
| Hong Kong | 0.31 |
| Turquie | 0.28 |
| Luxembourg | 0.27 |
| Jersey | 0.18 |
| Supranationaux | 0.13 |
| Bermudes | 0.08 |
| Total | 95.00 |

Répartition économique en % de l’actif net	
| Banques & instituts de crédit | 37.60 |
| --- | --- |
| Etablissements financiers et sociétés de participation | 23.10 |
| Trafic et transport | 3.25 |
| Fonds de placement | 2.93 |
| Télécommunications | 2.85 |
| Emetteurs d’obligations sécurisées (Pfandbriefe) et |  |
| sociétés de refinancement | 2.62 |
| Assurances | 2.36 |
| Distribution d’énergie & d’eau | 2.24 |
| Internet, logiciels et services informatiques | 2.21 |
| Alimentation & softs | 2.04 |
| Véhicules | 1.81 |
| Biotechnologie | 1.55 |
| Produits pharmaceutiques, cosmétiques & médicaux | 1.26 |
| Equipement informatique et de réseau | 1.23 |
| Pétrole | 1.16 |
| Immobilier | 0.86 |
| Electronique et semi-conducteurs | 0.77 |
| Industrie graphique, édition et médias | 0.72 |
| Diverses sociétés non classées | 0.65 |
| Industrie minière, charbon et acier | 0.61 |
| Commerce de détail, centres commerciaux | 0.43 |
| Machines et appareils | 0.43 |
| Bâtiment et matériaux de construction | 0.42 |
| Soins de santé & services sociaux | 0.40 |
| Appareils et composants électriques | 0.36 |
| Industrie aéronautique et spatiale | 0.30 |
| Agriculture et pêche | 0.29 |
| Chimie | 0.28 |
| Organisations supranationales | 0.14 |
| Services divers | 0.13 |
| Total | 95.00 |

UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
- anciennement UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)Rapport annuel et états financiers révisés au 31 mai 2022


## Etat des actifs nets
USD
Actif	31.5.2022
Portefeuille-titres, cours d’achat	707 499 112.77
| Portefeuille-titres, plus- (moins-) value non-réalisée | 	-41 564 369.80	 |
| --- | --- |
| Total portefeuille-titres (note 1) | 665 934 742.97 |
| Avoirs en banque, dépôts à vue et à terme | 12 993 993.64 |
| Autres liquidités (marges) | 262 885.20 |
| A recevoir sur ventes de titres (note 1) | 327 589.65 |
| A recevoir sur souscriptions | 8 628 925.22 |
| Intérêts à recevoir sur titres | 5 049 240.79 |
| Frais payés d’avance | 39 517.27 |
| Bénéfice non réalisé sur contrats financiers à terme (note 1) | 163 437.02 |
| Bénéfice non réalisé sur contrats de change à terme (note 1) | 8 438 841.24 |
| Total Actif | 701 839 173.00 |
|  |  |
| Passif |  |
| A payer sur rachats | -636 948.85 |
| Provisions pour commission de gestion forfaitaire (note 2) | -119 667.83 |
| Provisions pour taxe d’abonnement (note 3) | -18 086.31 |
| Provisions pour autres commissions et frais (note 2) | 	-86 854.26	 |
| Total des Provisions pour frais | -224 608.40 |
| Total Passif | -861 557.25 |
|  |  |
| Actifs nets à la fin de l’exercice | 700 977 615.75 |
| Etat des opérations | USD |
| Revenus | 1.6.2021-31.5.2022 |
| Revenus d’intérêts sur liquidités | 2 118.42 |
| Intérêts sur titres | 29 528 560.56 |
| Dividendes | 102.85 |
| Revenus nets sur prêts de titres (note 17) | 130 659.50 |
| Autres revenus (note 4) | 816 503.19 |
| Total des Revenus | 30 477 944.52 |
|  |  |
| Charges |  |
| Charges d’intérêts sur swaps (note 1) | -1 699.93 |
| Commission de gestion forfaitaire (note 2) | -1 698 085.02 |
| Taxe d’abonnement (note 3) | -134 739.41 |
| Autres commissions et frais (note 2) | -91 661.60 |
| Charges d’intérêts sur liquidités et crédit en compte courant | -10 208.72 |
| Total des Charges | -1 936 394.68 |
|  |  |
| Revenus (Pertes) net(te)s des investissements | 28 541 549.84 |
|  |  |
| Bénéfices (pertes) réalisé(e)s (note 1) |  |
| Bénéfice (perte) réalisé(e) sur titres évalués à la valeur de marché hors options | -6 955 970.29 |
| Bénéfice (perte) réalisé(e) sur instruments du marché monétaire et titres évalués en fonction des rendements | 198 136.08 |
| Bénéfice (perte) réalisé(e) sur contrats financiers à terme | 852 398.30 |
| Bénéfice (perte) réalisé(e) sur contrats de change à terme | -43 315 775.09 |
| Bénéfice (perte) réalisé(e) sur swaps | 59 956.64 |
| Bénéfice (perte) réalisé(e) de change réalisé(e) | -16 057 264.83 |
| Total des Bénéfices (pertes) réalisé(e)s | -65 218 519.19 |
|  |  |
| Bénéfice (perte) net(te) réalisé(e) au cours de l’exercice | -36 676 969.35 |
|  |  |
| Variations des plus- (moins-) values non-réalisées (note 1) |  |
| Plus- (Moins-) value non réalisée sur titres évalués à la valeur de marché hors options | -52 190 786.55 |
| Plus- (Moins-) value non réalisée sur instruments du marché monétaire et titres évalués en fonction des rendements	-152 347.77 |
| Plus- (Moins-) value non réalisée sur contrats financiers à terme | 182 577.65 |
| Plus- (Moins-) value non réalisée sur contrats de change à terme | -1 133 665.61 |
| Total des Variations des plus- (moins-) values non-réalisées | -53 294 222.28 |
|  |  |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | -89 971 191.63 |

UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
- anciennement UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)Rapport annuel et états financiers révisés au 31 mai 2022

| Variations de l’actif net |  |
| --- | --- |
|  | USD |
|  | 1.6.2021-31.5.2022 |
| Actif net au début de l’exercice | 1 008 206 695.37 |
| Souscriptions | 410 368 373.60 |
| Rachats | 	-627 557 047.33	 |
| Souscriptions (Rachats) net(te)s | -217 188 673.73 |
| Dividendes versés | -69 214.26 |
| Revenus (Pertes) net(te)s des investissements | 28 541 549.84 |
| Total des Bénéfices (pertes) réalisé(e)s | -65 218 519.19 |
| Total des Variations des plus- (moins-) values non-réalisées | 	-53 294 222.28	 |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | -89 971 191.63 |
| Actifs nets à la fin de l’exercice | 700 977 615.75 |
| Evolution des actions en circulation |  |
|  | 1.6.2021-31.5.2022 |
| Catégorie | F-acc |
| Nombre d’actions en circulation au début de l’exercice | 354 929.2490 |
| Nombre d’actions émises | 130 279.0000 |
| Nombre d’actions rachetées | -253 283.2490 |
| Nombre d’actions en circulation à la fin de l’exercice | 231 925.0000 |
| Catégorie | (CHF hedged) F-acc |
| Nombre d’actions en circulation au début de l’exercice | 392 668.0000 |
| Nombre d’actions émises | 107 552.0000 |
| Nombre d’actions rachetées | -267 158.0000 |
| Nombre d’actions en circulation à la fin de l’exercice | 233 062.0000 |
| Catégorie | (EUR hedged) F-acc |
| Nombre d’actions en circulation au début de l’exercice | 194 570.7880 |
| Nombre d’actions émises | 18 601.0360 |
| Nombre d’actions rachetées | -36 866.0000 |
| Nombre d’actions en circulation à la fin de l’exercice | 176 305.8240 |
| Catégorie | I-A1-acc |
| Nombre d’actions en circulation au début de l’exercice | 367 843.0520 |
| Nombre d’actions émises | 125 410.1120 |
| Nombre d’actions rachetées | -429 705.4290 |
| Nombre d’actions en circulation à la fin de l’exercice | 63 547.7350 |
| Catégorie | I-A2-acc |
| Nombre d’actions en circulation au début de l’exercice | 21 153.0110 |
| Nombre d’actions émises | 0.0000 |
| Nombre d’actions rachetées | -10 343.5620 |
| Nombre d’actions en circulation à la fin de l’exercice | 10 809.4490 |
| Catégorie | (EUR hedged) I-A3-acc |
| Nombre d’actions en circulation au début de l’exercice | 0.0000 |
| Nombre d’actions émises | 1 685 647.3460 |
| Nombre d’actions rachetées | -25 409.7790 |
| Nombre d’actions en circulation à la fin de l’exercice | 1 660 237.5670 |
| Catégorie | I-B-acc |
| Nombre d’actions en circulation au début de l’exercice | 775 546.7270 |
| Nombre d’actions émises | 23 527.9890 |
| Nombre d’actions rachetées | -446 650.7610 |
| Nombre d’actions en circulation à la fin de l’exercice | 352 423.9550 |
| Catégorie | (EUR hedged) I-B-acc |
| Nombre d’actions en circulation au début de l’exercice | 678 297.3960 |
| Nombre d’actions émises | 79 995.4240 |
| Nombre d’actions rachetées | -414 294.6330 |
| Nombre d’actions en circulation à la fin de l’exercice | 343 998.1870 |
| Catégorie | I-X-acc |
| Nombre d’actions en circulation au début de l’exercice | 617 147.4280 |
| Nombre d’actions émises | 258 230.2440 |
| Nombre d’actions rachetées | -376 227.1230 |
| Nombre d’actions en circulation à la fin de l’exercice | 499 150.5490 |
| Catégorie | (CHF hedged) I-X-acc |
| Nombre d’actions en circulation au début de l’exercice | 2 035 224.9160 |
| Nombre d’actions émises | 218 010.8810 |
| Nombre d’actions rachetées | -719 031.7700 |
| Nombre d’actions en circulation à la fin de l’exercice | 1 534 204.0270 |
| Catégorie | (EUR hedged) I-X-acc |
| Nombre d’actions en circulation au début de l’exercice | 728 623.6320 |
| Nombre d’actions émises | 265 022.1620 |
| Nombre d’actions rachetées | -309 913.0100 |
| Nombre d’actions en circulation à la fin de l’exercice | 683 732.7840 |
| Catégorie | (CHF hedged) K-B-acc |
| Nombre d’actions en circulation au début de l’exercice | 5 498.7010 |
| Nombre d’actions émises | 248 954.3910 |
| Nombre d’actions rachetées | -248 954.3910 |
| Nombre d’actions en circulation à la fin de l’exercice | 5 498.7010 |

UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
- anciennement UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)Rapport annuel et états financiers révisés au 31 mai 2022

| Catégorie |  |  |  | K-B-mdist |
| --- | --- | --- | --- | --- |
| Nombre d’actions en circulation au début de l’exercice |  |  |  | 92 248.4920 |
| Nombre d’actions émises |  |  |  | 0.0000 |
| Nombre d’actions rachetées |  |  |  | -61 314.7580 |
| Nombre d’actions en circulation à la fin de l’exercice |  |  |  | 30 933.7340 |
| Catégorie |  |  |  | (EUR hedged) K-X-acc |
| Nombre d’actions en circulation au début de l’exercice |  |  |  | 25.5790 |
| Nombre d’actions émises |  |  |  | 0.0000 |
| Nombre d’actions rachetées |  |  |  | 0.0000 |
| Nombre d’actions en circulation à la fin de l’exercice |  |  |  | 25.5790 |
| Catégorie |  |  |  | P-acc |
| Nombre d’actions en circulation au début de l’exercice |  |  |  | 415 204.4590 |
| Nombre d’actions émises |  |  |  | 147 279.1660 |
| Nombre d’actions rachetées |  |  |  | -172 408.0520 |
| Nombre d’actions en circulation à la fin de l’exercice |  |  |  | 390 075.5730 |
| Catégorie |  |  |  | Q-acc |
| Nombre d’actions en circulation au début de l’exercice |  |  |  | 144 134.9500 |
| Nombre d’actions émises |  |  |  | 121 663.9950 |
| Nombre d’actions rachetées |  |  |  | -65 590.2010 |
| Nombre d’actions en circulation à la fin de l’exercice |  |  |  | 200 208.7440 |
| Catégorie |  |  |  | U-X-acc |
| Nombre d’actions en circulation au début de l’exercice |  |  |  | 15 520.0000 |
| Nombre d’actions émises |  |  |  | 444.0000 |
| Nombre d’actions rachetées |  |  |  | -15 964.0000 |
| Nombre d’actions en circulation à la fin de l’exercice |  |  |  | 0.0000 |
| Distribution mensuelle 1 |  |  |  |  |
| UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)* | Date de détachement | Date de versement | Devise | Montant par action |
| K-B-mdist | 15.6.2021 | 18.6.2021 | USD | 0.09 |
| K-B-mdist | 15.7.2021 | 20.7.2021 | USD | 0.09 |
| K-B-mdist | 16.8.2021 | 19.8.2021 | USD | 0.09 |
| K-B-mdist | 15.9.2021 | 20.9.2021 | USD | 0.09 |
| K-B-mdist | 15.10.2021 | 20.10.2021 | USD | 0.09 |
| K-B-mdist | 15.11.2021 | 18.11.2021 | USD | 0.09 |
| K-B-mdist | 15.12.2021 | 20.12.2021 | USD | 0.09 |
| K-B-mdist | 17.1.2022 | 20.1.2022 | USD | 0.09 |
| K-B-mdist | 15.2.2022 | 18.2.2022 | USD | 0.09 |
| K-B-mdist | 15.3.2022 | 18.3.2022 | USD | 0.09 |
| K-B-mdist | 19.4.2022 | 22.4.2022 | USD | 0.09 |
| K-B-mdist | 16.5.2022 | 19.5.2022 | USD | 0.09 |
| 1  Voir note 5 |  |  |  |  |

UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
- anciennement UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)Rapport annuel et états financiers révisés au 31 mai 2022


## Etat du portefeuille-titres et autres actifs nets au 31 mai 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 |  |  |  |
| CHF |  |  |  |
| CHF	LONZA SWISS FINANCE AG-REG-S 1.00000% 20-28.04.23 | 4 250 000.00 | 4 460 826.25 | 0.64 |
| Total CHF |  | 4 460 826.25 | 0.64 |
| EUR |  |  |  |
| EUR	INTL CONSOLIDATED AIRLINES GROUP-REG-S 0.50000% 19-04.07.23 | 2 000 000.00 | 2 067 221.12 | 0.29 |
| Total EUR |  | 2 067 221.12 | 0.29 |
| GBP |  |  |  |
| GBP	BUPA FINANCE PLC-REG-S-SUB 5.00000% 16-08.12.26 | 1 000 000.00 | 1 310 326.34 | 0.19 |
| Total GBP |  | 1 310 326.34 | 0.19 |
| USD |  |  |  |
| USD	ABBVIE INC 2.60000% 20-21.11.24 | 4 000 000.00 | 3 941 150.12 | 0.56 |
| USD	ABBVIE INC 3.75000% 18-14.11.23 | 1 000 000.00 | 1 014 495.29 | 0.14 |
| USD	ADOBE INC 3.25000% 15-01.02.25 | 3 000 000.00 | 3 015 160.47 | 0.43 |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 4.50000% 20-15.09.23 | 4 000 000.00 | 4 013 795.48 | 0.57 |
| USD	AETNA INC 2.80000% 16-15.06.23 | 1 500 000.00 | 1 502 735.46 | 0.21 |
| USD	AIG GLOBAL FUNDING-REG-S 0.65000% 21-17.06.24 | 1 000 000.00 | 948 017.73 | 0.14 |
| USD	ALLY FINANCIAL INC 1.45000% 20-02.10.23 | 2 500 000.00 | 2 443 577.28 | 0.35 |
| USD	ALLY FINANCIAL INC 3.87500% 19-21.05.24 | 2 500 000.00 | 2 513 003.68 | 0.36 |
| USD	AMERICAN AIRLINES GROUP INC-REG-S 5.00000% 19-01.06.22 | 3 000 000.00 | 3 000 000.00 | 0.43 |
| USD	AMERICAN EXPRESS CO 3.00000% 17-30.10.24 | 2 500 000.00 | 2 493 602.33 | 0.36 |
| USD	AMERICAN TOWER CORP 3.37500% 19-15.05.24 | 1 000 000.00 | 998 656.89 | 0.14 |
| USD	AMERICAN TOWER CORP 0.60000% 20-15.01.24 | 2 000 000.00 | 1 919 066.20 | 0.27 |
| USD	AMGEN INC 3.62500% 14-22.05.24 | 3 000 000.00 | 3 035 112.63 | 0.43 |
| USD	ANALOG DEVICES INC 2.95000% 20-01.04.25 | 500 000.00 | 496 407.31 | 0.07 |
| USD	ANGLO AMERICAN CAPITAL PLC-144A 3.62500% 17-11.09.24 | 2 000 000.00 | 1 990 800.00 | 0.28 |
| USD	ANGLO AMERICAN CAPITAL PLC-REG-S 3.62500% 17-11.09.24 | 485 000.00 | 482 769.00 | 0.07 |
| USD	ANZ NEW ZEALAND INT’L LTD/LONDON-REG-S 2.16600% 22-18.02.25 | 2 000 000.00 | 1 939 689.40 | 0.28 |
| USD	APPLE INC 3.00000% 17-09.02.24 | 5 000 000.00 | 5 031 333.30 | 0.72 |
| USD	APT PIPELINES LTD-REG-S 4.20000% 15-23.03.25 | 2 000 000.00 | 2 009 073.00 | 0.29 |
| USD	APTIV PLC 2.39600% 22-18.02.25 | 1 300 000.00 | 1 256 355.70 | 0.18 |
| USD	ASTRAZENECA FINANCE LLC 0.70000% 21-28.05.24 | 6 100 000.00 | 5 840 233.46 | 0.83 |
| USD	AT&T INC 0.90000% 21-25.03.24 | 2 000 000.00 | 1 927 333.88 | 0.28 |
| USD	AVOLON HOLDINGS FUNDING LTD-REG-S 5.12500% 18-01.10.23 | 500 000.00 | 505 115.00 | 0.07 |
| USD	BANCO SANTANDER SA 2.70600% 19-27.06.24 | 7 000 000.00 | 6 889 380.89 | 0.98 |
| USD	BANCO SANTANDER SA-REG-S 4.12500% 12-09.11.22 | 2 500 000.00 | 2 504 500.00 | 0.36 |
| USD	BANK OF IRELAND GROUP PLC-144A 4.50000% 18-25.11.23 | 500 000.00 | 504 226.76 | 0.07 |
| USD	BANK OF NOVA SCOTIA 0.40000% 21-15.09.23 | 5 000 000.00 | 4 846 549.50 | 0.69 |
| USD	BANK OF NOVA SCOTIA 0.55000% 20-15.09.23 | 3 000 000.00 | 2 913 819.87 | 0.42 |
| USD	BANK OF NOVA SCOTIA/THE 0.70000% 21-15.04.24 | 2 000 000.00 | 1 909 090.20 | 0.27 |
| USD	BANQUE FEDERATIVE DU CREDIT MUT-REG-S 3.75000% 18-20.07.23 | 1 000 000.00 | 1 007 712.48 | 0.14 |
| USD	BANQUE FEDERATIVE DU CREDIT MUTUL-REG-S 0.99800% 21-04.02.25 | 3 000 000.00 | 2 785 978.80 | 0.40 |
| USD	BARCLAYS BANK PLC 3.75000% 14-15.05.24 | 500 000.00 | 504 081.91 | 0.07 |
| USD	BARRY CALLEBAUT SERVICES NV-REG-S 5.50000% 13-15.06.23 | 3 000 000.00 | 3 048 005.10 | 0.44 |
| USD	BAYER US FINANCE II LLC-REG-S 3.87500% 18-15.12.23 | 2 000 000.00 | 2 016 149.52 | 0.29 |
| USD	BBVA BANCOMER SA/TEXAS-REG-S 4.37500% 14-10.04.24 | 3 000 000.00 | 3 000 900.00 | 0.43 |
| USD	BMW US CAPITAL LLC-REG-S 3.80000% 20-06.04.23 | 3 000 000.00 | 3 026 972.25 | 0.43 |
| USD	BMW US CAPITAL LLC-REG-S 0.75000% 21-12.08.24 | 2 275 000.00 | 2 159 596.37 | 0.31 |
| USD	BPCE SA-REG-S 4.00000% 18-12.09.23 | 7 230 000.00 | 7 268 319.00 | 1.04 |
| USD	BRISTOL-MYERS SQUIBB CO 2.90000% 20-26.07.24 | 3 000 000.00 | 3 004 814.88 | 0.43 |
| USD	CANADIAN PACIFIC RAILWAY 1.35000% 21-02.12.24 | 3 000 000.00 | 2 851 836.54 | 0.41 |
| USD	CCO LLC/CAPITAL 4.90800% 16-23.07.25 | 2 500 000.00 | 2 552 698.17 | 0.36 |
| USD	CIGNA CORP 0.61300% 21-15.03.24 | 5 000 000.00 | 4 784 450.50 | 0.68 |
| USD	COCA-COLA EUROPACIFIC PARTNERS PLC-144A 0.80000% 21-03.05.24 | 3 000 000.00 | 2 857 038.06 | 0.41 |
| USD	COMCAST CORP 3.70000% 18-15.04.24 | 3 000 000.00 | 3 049 587.87 | 0.44 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 6.50000% 19-08.04.24 | 4 000 000.00 | 2 860 000.00 | 0.41 |
| USD	CREDIT AGRICOLE SA LONDON-REG-S 2.37500% 19-22.01.25 | 445 000.00 | 430 194.32 | 0.06 |
| USD	CREDIT SUISSE GROUP AG 3.80000% 16-09.06.23 | 3 000 000.00 | 3 012 648.12 | 0.43 |
| USD	DAIMLER FINANCE NORTH AMERICA LLC-REG-S 3.65000% 19-22.02.24 | 2 000 000.00 | 2 015 349.78 | 0.29 |
| USD	DAIMLER FINANCE NORTH AMERICA-REG-S 2.12500% 20-10.03.25 | 3 000 000.00 | 2 884 723.95 | 0.41 |
| USD	DEUTSCHE BANK AG/NEW YORK NY 3.95000% 18-27.02.23 | 3 000 000.00 | 3 011 761.35 | 0.43 |
| USD	DEUTSCHE BANK AG/NEW YORK NY 0.89800% 21-28.05.24 | 2 000 000.00 | 1 894 677.42 | 0.27 |
| USD	DUPONT DE NEMOURS INC 4.20500% 18-15.11.23 | 2 000 000.00 | 2 037 916.18 | 0.29 |
| USD	ELECTRICITE DE FRANCE SA-REG-S 3.62500% 15-13.10.25 | 2 000 000.00 | 1 980 309.20 | 0.28 |
| USD	ENBRIDGE INC 2.50000% 19-15.01.25 | 2 500 000.00 | 2 426 053.10 | 0.35 |
| USD	ENI SPA-REG-S 4.00000% 18-12.09.23 | 3 465 000.00 | 3 497 609.95 | 0.50 |
| USD	EVERSOURCE ENERGY 3.80000% 18-01.12.23 | 1 000 000.00 | 1 008 220.16 | 0.14 |
| USD	EXELON GENERATION CO LLC 3.25000% 20-01.06.25 | 3 000 000.00 | 2 944 134.15 | 0.42 |
| USD	FISERV INC 2.75000% 19-01.07.24 | 3 500 000.00 | 3 450 966.36 | 0.49 |
| USD	FMG RESOURCES AUGUST 2006 PTY LTD-REG-S 5.12500% 17-15.05.24 | 2 350 000.00 | 2 395 284.50 | 0.34 |
| USD	FORD MOTOR CREDIT CO LLC 4.37500% 13-06.08.23 | 3 000 000.00 | 3 001 350.39 | 0.43 |
| USD	GENERAL MOTORS CO 4.87500% 14-02.10.23 | 4 000 000.00 | 4 075 943.48 | 0.58 |
| USD	GENERAL MOTORS CO 5.40000% 20-02.10.23 | 3 000 000.00 | 3 084 310.17 | 0.44 |
| USD	GENERAL MOTORS FINANCIAL CO INC 2.90000% 20-26.02.25 | 1 000 000.00 | 972 288.71 | 0.14 |
| USD	GLENCORE FUNDING LLC-REG-S 4.12500% 19-12.03.24 | 3 510 000.00 | 3 535 464.07 | 0.50 |
| USD	GOLDMAN SACHS GROUP INC 3.50000% 20-01.04.25 | 1 000 000.00 | 998 655.44 | 0.14 |
| USD	HARLEY-DAVIDSON FINANCIAL SERVICE-REG-S 3.35000% 20-08.06.25 | 2 500 000.00 | 2 435 568.02 | 0.35 |
| USD	HEWLETT PACKARD ENTERPRISE CO 4.45000% 20-02.10.23 | 2 500 000.00 | 2 545 850.95 | 0.36 |
| USD	HSBC HOLDINGS PLC-SUB 4.25000% 14-14.03.24 | 3 000 000.00 | 3 035 625.90 | 0.43 |
| USD	ING BANK NV-REG-S-SUB 5.80000% 13-25.09.23 | 2 914 000.00 | 2 989 354.67 | 0.43 |
| USD	ING GROEP NV 3.55000% 19-09.04.24 | 3 898 000.00 | 3 901 563.82 | 0.56 |
| USD	ING GROEP NV 4.10000% 18-02.10.23 | 2 564 000.00 | 2 599 576.09 | 0.37 |
| USD	INVESCO FINANCE PLC 3.75000% 15-15.01.26 | 1 000 000.00 | 998 558.04 | 0.14 |
| USD	KELLOGG CO 2.65000% 16-01.12.23 | 2 000 000.00 | 1 992 900.52 | 0.28 |
| USD	KINDER MORGAN INC 3.15000% 17-15.01.23 | 1 500 000.00 | 1 505 800.11 | 0.22 |

UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
- anciennement UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)Rapport annuel et états financiers révisés au 31 mai 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 | KROGER CO 4.00000% 14-01.02.24 | 2 000 000.00 | 2 028 274.36 | 0.29 |
| USD | LENNOX INTERNATIONAL INC 1.35000% 20-01.08.25 | 900 000.00 | 827 990.31 | 0.12 |
| USD | LLOYDS BANKING GROUP PLC 4.05000% 18-16.08.23 | 5 000 000.00 | 5 059 066.00 | 0.72 |
| USD | LLOYDS BANKING GROUP PLC 4.45000% 18-08.05.25 | 2 000 000.00 | 2 031 366.98 | 0.29 |
| USD | LLOYDS BANKING GROUP PLC 3.90000% 19-12.03.24 | 1 500 000.00 | 1 507 616.62 | 0.22 |
| USD | LOWE’S COS INC 3.87500% 13-15.09.23 | 1 000 000.00 | 1 011 942.22 | 0.14 |
| USD | MARSH & MCLENNAN COS INC 3.87500% 19-15.03.24 | 3 000 000.00 | 3 034 590.81 | 0.43 |
| USD | METLIFE INC 3.60000% 14-10.04.24 | 3 000 000.00 | 3 043 410.57 | 0.43 |
| USD | MICROSOFT CORP 3.12500% 15-03.11.25 | 2 000 000.00 | 2 015 046.68 | 0.29 |
| USD | MOODY’S CORP 3.75000% 20-24.03.25 | 3 000 000.00 | 3 024 219.69 | 0.43 |
| USD | NATIONAL BANK OF UZBEKISTAN-REG-S 4.85000% 20-21.10.25 | 1 667 000.00 | 1 529 264.13 | 0.22 |
| USD | NATWEST GROUP PLC 3.87500% 16-12.09.23 | 9 000 000.00 | 9 052 631.10 | 1.29 |
| USD | NESTLE HOLDINGS INC-REG-S 0.60600% 21-14.09.24 | 6 000 000.00 | 5 691 316.68 | 0.81 |
| USD | NOMURA HOLDINGS INC 2.64800% 20-16.01.25 | 5 000 000.00 | 4 875 612.00 | 0.70 |
| USD | NORDEA BANK ABP-REG-S 1.00000% 20-09.06.23 | 1 200 000.00 | 1 179 955.82 | 0.17 |
| USD | PARK AEROSPACE HOLDINGS LTD-144A 5.50000% 17-15.02.24 | 4 500 000.00 | 4 541 022.81 | 0.65 |
| USD | PARK AEROSPACE HOLDINGS LTD-REG-S 5.25000% 17-15.08.22 | 58 000.00 | 58 122.77 | 0.01 |
| USD | PLAINS ALL AMERICAN PIPELINE LP 3.85000% 13-15.10.23 | 1 000 000.00 | 1 003 355.04 | 0.14 |
| USD | QUANTA SERVICES INC 0.95000% 21-01.10.24 | 1 325 000.00 | 1 247 885.70 | 0.18 |
| USD | ROPER TECHNOLOGIES INC 3.65000% 18-15.09.23 | 3 000 000.00 | 3 025 300.35 | 0.43 |
| USD | SALESFORCE.COM INC 0.62500% 21-15.07.24 | 2 260 000.00 | 2 155 458.73 | 0.31 |
| USD | SHIMAO PROPERTY HOLDINGS LTD-REG-S 6.12500% 19-21.02.24 | 1 000 000.00 | 140 000.00 | 0.02 |
| USD | SHIMAO PROPERTY HOLDINGS LTD-REG-S 3.97500% 21-16.09.23 | 600 000.00 | 90 000.00 | 0.01 |
| USD | SHINHAN BANK CO LTD-REG-S 3.87500% 18-05.11.23 | 1 000 000.00 | 1 012 140.00 | 0.14 |
| USD | SOCIETE GENERALE SA-REG-S-SUB 5.00000% 14-17.01.24 | 500 000.00 | 507 001.32 | 0.07 |
| USD | SOCIETE GENERALE-REG-S 2.62500% 19-16.10.24 | 7 030 000.00 | 6 845 486.26 | 0.98 |
| USD | SOUTHWEST AIRLINES CO 4.75000% 20-04.05.23 | 2 515 000.00 | 2 555 465.49 | 0.36 |
| USD | SPRINGLEAF FINANCE CORP 6.12500% 19-15.03.24 | 2 000 000.00 | 2 020 292.96 | 0.29 |
| USD | SUMITOMO MITSUI BANKING CORP 3.95000% 13-19.07.23 | 3 000 000.00 | 3 038 489.10 | 0.43 |
| USD | SUNCORP-METWAY LTD-REG-S 3.30000% 19-15.04.24 | 430 000.00 | 429 775.59 | 0.06 |
| USD | SVENSKA HANDELSBANKEN AB-REG-S 0.55000% 21-11.06.24 | 2 250 000.00 | 2 133 601.40 | 0.30 |
| USD | SWEDBANK AB-REG-S 0.60000% 20-25.09.23 | 3 000 000.00 | 2 907 236.07 | 0.42 |
| USD | TELECOM ITALIA SPA-144A 5.30300% 14-30.05.24 | 2 000 000.00 | 2 029 200.00 | 0.29 |
| USD | TENCENT HOLDINGS LTD-REG-S 3.28000% 19-11.04.24 | 2 000 000.00 | 1 990 440.00 | 0.28 |
| USD | THERMO FISHER SCIENTIFIC INC 1.21500% 21-18.10.24 | 650 000.00 | 622 393.37 | 0.09 |
| USD | TOTAL CAPITAL INTERNATIONAL SA 3.75000% 14-10.04.24 | 2 400 000.00 | 2 441 358.48 | 0.35 |
| USD | UBS AG LONDON-144A 1.37500% 22-13.01.25 | 2 000 000.00 | 1 897 109.00 | 0.27 |
| USD | UNITED PARCEL SERVICE INC 3.90000% 20-01.04.25 | 1 500 000.00 | 1 531 640.25 | 0.22 |
| USD | UZBEK INDUSTRIAL AND CONS ATB-REG-S 5.75000% 19-02.12.24 | 1 000 000.00 | 911 380.00 | 0.13 |
| USD | VERIZON COMMUNICATIONS INC 0.85000% 20-20.11.25 | 6 333 000.00 | 5 843 797.28 | 0.83 |
| USD | VMWARE INC 4.50000% 20-15.05.25 | 4 796 000.00 | 4 887 552.76 | 0.70 |
| USD | WILLIAMS COMPANIES INC 4.55000% 14-24.06.24 | 3 000 000.00 | 3 050 288.10 | 0.44 |
| Total USD |  |  | 294 153 948.00 | 41.96 |
| Total des Billets, taux fixe |  | 301 992 321.71 | 43.08 |
| Billets, taux variable |  |  |  |
| USD |  |  |  |
| USD	ABN AMRO BANK NV-REG-S-SUB 4.400%/VAR 17-27.03.28 | 5 200 000.00 | 5 196 141.60 | 0.74 |
| USD	BANCO SANTANDER SA 0.701%/VAR 21-30.06.24 | 2 200 000.00 | 2 135 544.69 | 0.30 |
| USD	BANK OF AMERICA CORP 3.550%/3M LIBOR+78BP 18-05.03.24 | 5 500 000.00 | 5 521 742.87 | 0.79 |
| USD	BNP PARIBAS-REG-S 2.819% /VAR 19-19.11.25 | 5 000 000.00 | 4 836 141.70 | 0.69 |
| USD	CITIGROUP INC 2.014%/VAR 22-25.01.26 | 3 000 000.00 | 2 855 066.19 | 0.41 |
| USD	CITIGROUP INC 3.352%/VAR 19-24.04.25 | 7 000 000.00 | 6 952 967.98 | 0.99 |
| USD	CREDIT SUISSE GROUP AG-REG-S 4.207%/VAR 18-12.06.24 | 8 000 000.00 | 8 019 678.32 | 1.14 |
| USD	DNB BANK ASA-REG-S 0.856%/VAR 21-30.09.25 | 3 660 000.00 | 3 440 765.12 | 0.49 |
| USD	ELECTRICITE DE FRANCE SA-REG-S-SUB 5.625%/VAR 14-PRP | 2 800 000.00 | 2 736 440.00 | 0.39 |
| USD	GOLDMAN SACHS GROUP INC 2.905%/VAR 17-24.07.23 | 3 000 000.00 | 3 000 421.74 | 0.43 |
| USD	HSBC HOLDINGS PLC 4.292%/VAR 18-12.09.26 | 4 000 000.00 | 3 985 495.76 | 0.57 |
| USD	JPMORGAN CHASE & CO 3.220%/VAR 17-01.03.25 | 7 000 000.00 | 6 960 673.44 | 0.99 |
| USD	JPMORGAN CHASE & CO 3.797%/VAR 18-23.07.24 | 8 000 000.00 | 8 045 620.96 | 1.15 |
| USD	JPMORGAN CHASE & CO 0.824%/VAR 21-01.06.25 | 1 000 000.00 | 948 105.92 | 0.13 |
| USD	JPMORGAN CHASE 1.561%/VAR 21-10.12.25 | 4 000 000.00 | 3 795 078.52 | 0.54 |
| USD	MORGAN STANLEY 0.790%/VAR 21-30.05.25 | 9 000 000.00 | 8 494 011.90 | 1.21 |
| USD	MORGAN STANLEY 3.737%/VAR 18-24.04.24 | 7 657 000.00 | 7 689 971.73 | 1.10 |
| USD	NATIONWIDE BUILDING SOCIETY-144A 4.363%/VAR 18-01.08.24 | 2 000 000.00 | 2 018 241.96 | 0.29 |
| USD	PRUDENTIAL FINANCIAL INC-SUB 5.875%/VAR 12-15.09.42 | 2 000 000.00 | 1 991 909.48 | 0.28 |
| USD	SANTANDER UK GRP HOLD PLC 4.796%/3M LIBOR+157BP 18-15.11.24 | 2 000 000.00 | 2 029 317.32 | 0.29 |
| USD	SOCIETE GENERALE SA-REG-S 2.226%/VAR 22-21.01.26 | 1 620 000.00 | 1 526 610.39 | 0.22 |
| USD	STANDARD CHARTERED PLC-REG-S 3.885%/VAR 18-15.03.24 | 11 190 000.00 | 11 210 208.69 | 1.60 |
| USD	UBS GROUP AG-REG-S 2.859%/VAR 17-15.08.23 | 2 000 000.00 | 1 999 920.00 | 0.29 |
| Total USD |  | 105 390 076.28 | 15.03 |
| Total des Billets, taux variable |  | 105 390 076.28 | 15.03 |
| Medium-Term Notes, taux fixe |  |  |  |
| EUR |  |  |  |
| EUR	CELLNEX TELECOM SA-REG-S 2.87500% 17-18.04.25 | 1 500 000.00 | 1 607 421.34 | 0.23 |
| EUR	CELLNEX TELECOM SAU-REG-S 3.12500% 15-27.07.22 | 2 000 000.00 | 2 148 404.73 | 0.31 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 2.00000% 21-14.07.24 | 2 400 000.00 | 2 515 260.72 | 0.36 |
| EUR	FORTUM OYJ-REG-S 0.87500% 19-27.02.23 | 2 000 000.00 | 2 124 781.53 | 0.30 |
| EUR	WIZZ AIR FINANCE CO BV-REG-S 1.35000% 21-19.01.24 | 1 400 000.00 | 1 437 495.38 | 0.20 |
| Total EUR |  | 9 833 363.70 | 1.40 |
| USD |  |  |  |
| USD	AAREAL BANK AG-REG-S 0.62500% 21-14.02.25 | 2 000 000.00 | 1 867 768.54 | 0.27 |
| USD	ADCB FINANCE CAYMAN LTD-REG-S-SUB 4.50000% 13-06.03.23 | 4 000 000.00 | 4 033 250.00 | 0.58 |
| USD	AGRICULTURAL BANK OF CHINA LTD/NE-REG-S 1.50000% 22-18.01.25 | 1 000 000.00 | 959 990.00 | 0.14 |
| USD	AIB GROUP PLC-REG-S 4.75000% 18-12.10.23 | 3 500 000.00 | 3 525 205.32 | 0.50 |
| USD	ARAB PETROLEUM INVESTMENTS CORP-REG-S 1.46000% 20-30.06.25 | 1 000 000.00 | 945 000.00 | 0.14 |
| USD	BANK OF CHINA LTD-REG-S-SUB 5.00000% 14-13.11.24 | 3 000 000.00 | 3 104 850.00 | 0.44 |
| USD	BNP PARIBAS-REG-S 3.80000% 17-10.01.24 | 4 000 000.00 | 4 013 856.76 | 0.57 |
| USD	CREDIT AGRICOLE SA LONDON-REG-S 3.25000% 17-04.10.24 | 4 000 000.00 | 3 950 857.48 | 0.56 |

UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
- anciennement UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)Rapport annuel et états financiers révisés au 31 mai 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 | GOLDMAN SACHS GROUP INC STEP-UP 18-31.05.24 | 1 258 000.00 | 1 270 882.80 | 0.18 |
| USD | JOHN DEERE CAPITAL CORP 0.625000% 21-10.09.24 | 910 000.00 | 865 951.67 | 0.12 |
| USD | MDGH - GMTN BV-REG-S 2.50000% 19-07.11.24 | 2 000 000.00 | 1 962 250.00 | 0.28 |
| USD | OVERSEA-CHINESE BANKING CORP-144A-SUB 4.25000% 14-19.06.24 | 2 000 000.00 | 2 034 891.20 | 0.29 |
| USD | QNB FINANCE LTD-REG-S 3.50000% 19-28.03.24 | 2 000 000.00 | 1 997 250.00 | 0.29 |
| USD | SWIRE PACIFIC MTN FINANCING LTD-REG-S 4.50000% 13-09.10.23 | 1 500 000.00 | 1 531 253.85 | 0.22 |
| USD | SWIRE PROPERTIES MTN FINANCING-REG-S 4.37500% 12-18.06.22 | 2 000 000.00 | 2 001 300.00 | 0.29 |
| USD | TORONTO-DOMINION BANK 3.25000% 19-11.03.24 | 3 000 000.00 | 3 013 559.52 | 0.43 |
| USD | TOYOTA MOTOR CREDIT CORP 1.45000% 22-13.01.25 | 1 700 000.00 | 1 632 855.95 | 0.23 |
| USD | YAPI VE KREDI BANKASI AS-REG-S 6.10000% 18-16.03.23 | 2 000 000.00 | 1 977 250.00 | 0.28 |
| Total USD |  |  | 40 688 223.09 | 5.81 |
| Total des Medium-Term Notes, taux fixe |  | 50 521 586.79 | 7.21 |
| Medium-Term Notes, coupon zéro |  |  |  |
| EUR |  |  |  |
| EUR	BECTON DICKINSON AND CO 0.00000% 21-13.08.23 | 840 000.00 | 888 751.25 | 0.13 |
| Total EUR |  | 888 751.25 | 0.13 |
| Total des Medium-Term Notes, coupon zéro |  | 888 751.25 | 0.13 |
| Medium-Term Notes, taux variable |  |  |  |
| EUR |  |  |  |
| EUR	ALLIANZ SE-REG-S-SUB 4.750%/3M EURIBOR+360BP 13-PRP | 1 500 000.00 | 1 663 147.77 | 0.24 |
| Total EUR |  | 1 663 147.77 | 0.24 |
| USD |  |  |  |
| USD	AIB GROUP PLC-REG-S 4.263%/VAR 19-10.04.25 | 1 500 000.00 | 1 493 112.67 | 0.21 |
| USD	BANK OF AMERICA CORP 0.981%/VAR 20-25.09.25 | 3 000 000.00 | 2 814 069.54 | 0.40 |
| USD	BANK OF AMERICA CORP 0.810%/VAR 20-24.10.24 | 7 000 000.00 | 6 750 907.80 | 0.96 |
| USD	DBS GROUP HOLDINGS LTD-144A-SUB 4.520%/VAR 18-11.12.28 | 3 000 000.00 | 3 045 438.48 | 0.43 |
| USD	MACQUARIE GROUP LTD-144A 1.201%/VAR 21-14.10.25 | 4 000 000.00 | 3 755 730.80 | 0.54 |
| USD	MACQUARIE GROUP LTD-REG-S 4.150%/3M LIBOR+133BP 18-27.03.24 | 2 530 000.00 | 2 546 227.93 | 0.36 |
| USD	RABOBANK NEDERLAND NV-REG-S-SUB 4.000%/VAR 17-10.04.29 | 3 000 000.00 | 2 977 380.00 | 0.43 |
| USD	UNITED OVERSEAS BANK LTD-REG-S-SUB 3.750%/VAR 19-15.04.29 | 2 453 000.00 | 2 457 107.30 | 0.35 |
| Total USD |  | 25 839 974.52 | 3.68 |
| Total des Medium-Term Notes, taux variable |  | 27 503 122.29 | 3.92 |
| Obligations, taux fixe |  |  |  |
| CHF |  |  |  |
| CHF	KUEHNE+NAGEL INTERNATIONAL AG-REG-S 0.02000% 19-18.11.22 | 4 570 000.00 | 4 767 140.99 | 0.68 |
| Total CHF |  | 4 767 140.99 | 0.68 |
| EUR |  |  |  |
| EUR	WIENERBERGER AG-REG-S 2.00000% 18-02.05.24 | 2 000 000.00 | 2 147 689.13 | 0.31 |
| Total EUR |  | 2 147 689.13 | 0.31 |
| GBP |  |  |  |
| GBP	JAGUAR LAND ROVER AUTOMOTIVE PLC-REG-S 3.87500% 15-01.03.23 | 500 000.00 | 617 511.72 | 0.09 |
| Total GBP |  | 617 511.72 | 0.09 |
| USD |  |  |  |
| USD	BP CAPITAL MARKETS PLC 3.81400% 14-10.02.24 | 2 500 000.00 | 2 539 713.40 | 0.36 |
| USD	CANADIAN IMPERIAL BANK OF-REG-S 1.15000% 21-08.07.26 | 3 000 000.00 | 2 745 043.08 | 0.39 |
| USD	CK HUTCHISON INTERNATIONAL LTD-REG-S 3.25000% 19-11.04.24 | 4 000 000.00 | 4 021 825.08 | 0.57 |
| USD	DANONE-REG-S 2.58900% 16-02.11.23 | 729 000.00 | 725 994.82 | 0.10 |
| USD	DEUTSCHE BANK AG/LONDON 3.70000% 14-30.05.24 | 5 000 000.00 | 4 979 790.35 | 0.71 |
| USD	GILEAD SCIENCES INC 3.70000% 14-01.04.24 | 3 000 000.00 | 3 038 707.26 | 0.43 |
| USD	KINDER MORGAN INC 4.30000% 14-01.06.25 | 2 000 000.00 | 2 027 523.76 | 0.29 |
| USD	LG CHEM LTD-REG-S 3.25000% 19-15.10.24 | 2 000 000.00 | 1 991 080.00 | 0.29 |
| USD	MIZUHO FINANCE GRP CAY 3 LTD-REG-S-SUB 4.60000% 14-27.03.24 | 5 000 000.00 | 5 055 860.40 | 0.72 |
| USD	NOVARTIS CAPITAL CORP 3.40000% 14-06.05.24 | 2 000 000.00 | 2 026 864.70 | 0.29 |
| USD	SOUTHERN CALIFORNIA EDISON CO 0.70000% 21-01.08.23 | 1 000 000.00 | 973 786.96 | 0.14 |
| USD	SUMITOMO MITSUI FIN GP INC-144A-SUB 4.43600% 14-02.04.24 | 1 500 000.00 | 1 516 707.54 | 0.22 |
| USD	UBS AG-REG-S-SUB 5.12500% 14-15.05.24 | 3 400 000.00 | 3 450 320.00 | 0.49 |
| USD	UNILEVER CAPITAL CORP 3.25000% 18-07.03.24 | 1 500 000.00 | 1 510 659.60 | 0.22 |
| Total USD |  | 36 603 876.95 | 5.22 |
| Total des Obligations, taux fixe |  | 44 136 218.79 | 6.30 |
| Obligations, taux variable |  |  |  |
| USD |  |  |  |
| USD	ALLSTATE CORP-SUB 5.750%/3M LIBOR+293.8BP 13-15.08.53 | 250 000.00 | 233 748.77 | 0.03 |
| USD	BP CAPITAL MARKETS PLC-SUB 4.375%/VAR 20-PRP | 3 800 000.00 | 3 701 649.84 | 0.53 |
| USD	NBK TIER 1 FINANCING 2 LTD-REG-S-SUB 4.500%/VAR 19-PRP | 3 300 000.00 | 3 126 337.50 | 0.45 |
| USD	SKANDINAVISKA ENSKILDA BANKEN-REG-S-SUB 5.125%/VAR 19-PRP | 3 000 000.00 | 2 868 750.00 | 0.41 |
| USD	SSE PLC-REG-S-SUB 4.750%/VAR 17-16.09.77 | 2 000 000.00 | 2 000 000.00 | 0.29 |
| USD	SWISS RE FINANCE LUXEMBOURG-REG-S-SUB 4.250%/VAR 19-PRP | 2 000 000.00 | 1 910 200.00 | 0.27 |
| USD	VODAFONE GROUP PLC-REG-S-SUB 6.250%/VAR 18-03.10.78 | 3 000 000.00 | 3 014 568.00 | 0.43 |
| Total USD |  | 16 855 254.11 | 2.41 |
| Total des Obligations, taux variable |  | 16 855 254.11 | 2.41 |

UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
- anciennement UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)Rapport annuel et états financiers révisés au 31 mai 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) |  |

Obligations convertibles, taux variable
| USD |  |
| --- | --- |
| USD | BANK OF MONTREAL-SUB 4.338%/VAR 18-05.10.28 | 5 000 000.00 | 5 047 292.15 | 0.72 |
| USD | BARCLAYS PLC-SUB COCO 8.000%/VAR 19-PRP | 3 000 000.00 | 3 113 707.02 | 0.44 |
| Total USD |  |  | 8 160 999.17 | 1.16 |
| Total des Obligations convertibles, taux variable |  | 8 160 999.17 | 1.16 |
| Total des Titres et instruments du marché monétaire négociés sur une bourse officielle |  | 555 448 330.39 | 79.24 |
| Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  |  |  |
| Titres adossés à des actifs, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AMERICREDIT AUTOMOBILE RECEIVABLE TRUST 4.04000% 18-18.11.24 | 1 100 000.00 | 1 106 265.27 | 0.16 |
| USD	COLT MERGER SUB INC-144A 3.60000% 18-25.02.48 | 4 338 000.00 | 1 676 203.39 | 0.24 |
| USD	EXETER AUTOMOBILE RECEIVABLE TRUST-144A 3.53000% 18-15.11.23 | 520 000.00 | 176 108.97 | 0.02 |
| USD	EXETER AUTOMOBILE RECEIVABLES-144A 4.35000% 18-16.09.24 | 865 000.00 | 487 423.62 | 0.07 |
| Total USD |  | 3 446 001.25 | 0.49 |
| Total des Titres adossés à des actifs, taux fixe |  | 3 446 001.25 | 0.49 |
| Titres adossés à des hypothèques, taux fixe |  |  |  |
| USD |  |  |  |
| USD	BWAY 2013-1515 MORTGAGE TRUST-144A 3.45430% 13-10.03.33 | 4 000 000.00 | 3 883 074.00 | 0.56 |
| USD	COMM 2015-3BP MORTGAGE TRUST-144A-SUB 3.17800% 15-01.02.35 | 4 055 000.00 | 3 927 876.97 | 0.56 |
| USD	COMM 2015-CCRE22 MORTGAGE TRUST 3.92600% 15-01.03.48 | 1 000 000.00 | 981 659.50 | 0.14 |
| USD	JP MORGAN CHASE MORTGAGE SEC-144A 3.73450% 18-01.01.31 | 2 605 000.00 | 2 601 673.15 | 0.37 |
| Total USD |  | 11 394 283.62 | 1.63 |
| Total des Titres adossés à des hypothèques, taux fixe |  | 11 394 283.62 | 1.63 |
| Titres adossés à des hypothèques, taux variable |  |  |  |
| USD |  |  |  |
| USD	BAMLL COMMERCIAL MORTGAGE-144A 3.21800% 15-01.04.33 | 3 750 000.00 | 3 624 676.88 | 0.52 |
| USD	CITYLINE COMMERCIAL MORTGAGE TRUST VAR 21-01.11.31 | 1 000 000.00 | 968 935.30 | 0.14 |
| USD	COMM 2014-CCRE15 MORTGAGE TRUST-SUB VAR 14-01.02.47 | 325 000.00 | 325 537.00 | 0.04 |
| USD	COMMERCIAL MORTGAGE PASS-THR-144A 3.812163%/VAR 13-01.06.46 | 2 500 000.00 | 2 503 689.00 | 0.36 |
| USD	MSCG TRUST 2018-SELF-144A-SUB 1M LIBOR+90BP 18-15.10.37 | 1 000 000.00 | 984 370.80 | 0.14 |
| Total USD |  | 8 407 208.98 | 1.20 |
| Total des Titres adossés à des hypothèques, taux variable |  | 8 407 208.98 | 1.20 |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AUSTRALIA & NEW ZEALAND BNK-REG-S-SUB 4.50000% 14-19.03.24 | 5 000 000.00 | 5 051 724.80 | 0.72 |
| USD	BAKER HUGHES HOLDINGS LLC / BAKER HUGH 1.23100% 21-15.12.23 | 1 500 000.00 | 1 464 461.67 | 0.21 |
| USD	BANK OF NEW ZEALAND-144A 3.50000% 19-20.02.24 | 4 885 000.00 | 4 908 391.92 | 0.70 |
| USD	BAYER US FINANCE LLC-144A 3.37500% 14-08.10.24 | 2 000 000.00 | 1 983 836.26 | 0.28 |
| USD	BERRY GLOBAL INC 0.95000% 21-15.02.24 | 1 000 000.00 | 951 388.44 | 0.14 |
| USD	CITADEL LP-REG-S 5.37500% 17-17.01.23 | 500 000.00 | 503 259.99 | 0.07 |
| USD	DELL INTERNATIONAL LLC / EMC CORP 5.45000% 21-15.06.23 | 1 036 000.00 | 1 056 458.61 | 0.15 |
| USD	DELTA AIR LINES INC / SKYMILES-REG-S 4.50000% 20-20.10.25 | 3 000 000.00 | 2 992 813.83 | 0.43 |
| USD	ENEL FINANCE INTERNATIONAL SA-144A 2.65000% 19-10.09.24 | 2 400 000.00 | 2 343 152.72 | 0.33 |
| USD	ERAC USA FINANCE LLC-144A 2.70000% 16-01.11.23 | 1 000 000.00 | 993 320.76 | 0.14 |
| USD	GLENCORE FUNDING LLC-144A 4.12500% 13-30.05.23 | 750 000.00 | 756 705.00 | 0.11 |
| USD	GLP CAPITAL LP / GLP FINANC II INC 5.37500% 14-01.11.23 | 1 000 000.00 | 1 012 240.00 | 0.14 |
| USD	LIBERTY MUTUAL GROUP INC-144A 4.25000% 13-15.06.23 | 1 850 000.00 | 1 863 608.62 | 0.27 |
| USD	NORDEA BANK AB-144A 0.62500% 21-24.05.24 | 2 400 000.00 | 2 277 617.81 | 0.33 |
| USD	NXP BV / NXP FUNDING LLC 4.87500% 22-01.03.24 | 3 000 000.00 | 3 051 660.00 | 0.44 |
| USD	RABOBANK UTRECHT-144A 2.62500% 19-22.07.24 | 2 000 000.00 | 1 966 221.84 | 0.28 |
| USD	ROCHE HOLDINGS INC-144A 0.45000% 21-05.03.24 | 5 000 000.00 | 4 791 524.65 | 0.68 |
| USD	SCHLUMBERGER HOLDINGS CORP-144A 3.75000% 19-01.05.24 | 500 000.00 | 504 757.63 | 0.07 |
| USD	SQUARE INC-144A 2.75000% 21-01.06.26 | 1 000 000.00 | 922 325.00 | 0.13 |
| USD	SUNCORP-METWAY LTD-144A 3.30000% 19-15.04.24 | 2 350 000.00 | 2 351 653.46 | 0.34 |
| Total USD |  | 41 747 123.01 | 5.96 |
| Total des Billets, taux fixe |  | 41 747 123.01 | 5.96 |
| Billets, taux variable |  |  |  |
| USD |  |  |  |
| USD	MACQUARIE GROUP LTD-144A 3.189%/VAR 17-28.11.23 | 2 800 000.00 | 2 799 744.36 | 0.40 |
| Total USD |  | 2 799 744.36 | 0.40 |
| Total des Billets, taux variable |  | 2 799 744.36 | 0.40 |

UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
- anciennement UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)Rapport annuel et états financiers révisés au 31 mai 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) |  |
| Medium-Term Notes, taux fixe |  |  |  |
| USD |  |  |  |
| USD	ASB BANK LTD-REG-S 3.12500% 19-23.05.24 | 1 500 000.00 | 1 497 605.70 | 0.21 |
| USD	BRIGHTHOUSE FINANCIAL GLOBAL FUND-REG-S 0.60000% 21-28.06.23 | 1 200 000.00 | 1 169 525.35 | 0.17 |
| USD	CREDIT AGRICOLE SA LONDON-144A 3.25000% 17-04.10.24 | 2 700 000.00 | 2 666 828.80 | 0.38 |
| USD	INTESA SANPAOLO SPA-144A-SUB 5.01700% 14-26.06.24 | 2 000 000.00 | 1 991 062.14 | 0.28 |
| Total USD |  | 7 325 021.99 | 1.04 |
| Total des Medium-Term Notes, taux fixe |  | 7 325 021.99 | 1.04 |
| Obligations, taux variable |  |  |  |
| USD |  |  |  |
| USD	SCENTRE GROUP TRUST 2-REG-S-SUB 4.750%/VAR 20-24.09.80 | 3 700 000.00 | 3 521 144.59 | 0.50 |
| Total USD |  | 3 521 144.59 | 0.50 |
| Total des Obligations, taux variable |  | 3 521 144.59 | 0.50 |
| Total des Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  | 78 640 527.80 | 11.22 |

Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé
Billets, taux fixe
| USD |  |
| --- | --- |
| USD | ATHENE GLOBAL FUNDING-REG-S 1.20000% 20-13.10.23 | 2 000 000.00 | 1 939 346.94 | 0.28 |
| USD | SIEMENS FINANCIERINGSMAATSCHAPPIJ-144A 0.65000% 21-11.03.24 | 5 000 000.00 | 4 809 034.30 | 0.69 |
| USD | SWEDBANK AB-REG-S 3.35600% 22-04.04.25 | 1 156 000.00 | 1 150 220.00 | 0.16 |
| USD | TRITON CONTAINER INTERNATIONAL-REG-S 1.15000% 21-07.06.24 | 585 000.00 | 553 117.50 | 0.08 |
| Total USD |  |  | 8 451 718.74 | 1.21 |
| Total des Billets, taux fixe |  | 8 451 718.74 | 1.21 |
| Medium-Term Notes, taux fixe |  |  |  |
| USD |  |  |  |
| USD	NBN CO LTD-REG-S 0.87500% 21-08.10.24 | 3 600 000.00 | 3 394 166.04 | 0.48 |
| Total USD |  | 3 394 166.04 | 0.48 |
| Total des Medium-Term Notes, taux fixe |  | 3 394 166.04 | 0.48 |
| Total des Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé |  | 11 845 884.78 | 1.69 |

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
| USD | UBS (IRL) SELECT MONEY MARKET FUND-USD-S-DIST | 2 000.00 | 20 000 000.00 | 2.85 |
| --- | --- | --- | --- | --- |
| Total Irlande | 20 000 000.00 | 2.85 |
| Total des Fonds d’investissement, ouvert | 20 000 000.00 | 2.85 |
| Total des OPCVM/Autres OPC au sens de l’article 41 (1) e) de la loi luxembourgeoise du 17 décembre 2010, telle que modifiée | 20 000 000.00 | 2.85 |
| Total du Portefeuille-titres | 665 934 742.97 | 95.00 |

| Instruments dérivés |  |
| --- | --- |
| Instruments dérivés négociés sur une bourse officielle |
| Contrats financiers à terme sur obligations |
|  |  |  |  |
| USD	US 5YR TREASURY NOTE FUTURE 30.09.22 | -140.00 | -24 062.50 | 0.00 |
| USD	US 2YR TREASURY NOTE FUTURE 30.09.22 | 480.00 | 187 499.52 | 0.02 |
| Total des Contrats financiers à terme sur obligations |  | 163 437.02 | 0.02 |
| Total des Instruments dérivés négociés sur une bourse officielle |  | 163 437.02 | 0.02 |
| Total des Instruments dérivés |  | 163 437.02 | 0.02 |
| Contrats de change à terme |  |  |  |
| Devise achetée/Montant acheté/Devise vendue/Montant vendu/Date de maturité |  |  |  |

| USD | 2 853 931.92 | EUR | 2 400 000.00 | 30.6.2022 | 278 930.89 | 0.04 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 994 926.79 | EUR | 842 500.00 | 10.8.2022 | 88 927.41 | 0.01 |
| USD | 1 251 438.37 | EUR | 1 058 000.00 | 10.8.2022 | 113 696.71 | 0.02 |
| USD | 1 266 239.96 | EUR | 1 060 000.00 | 10.8.2022 | 126 347.56 | 0.02 |
| USD | 4 790 082.33 | CHF | 4 360 000.00 | 2.9.2022 | 216 207.97 | 0.03 |
| USD | 1 617 785.05 | EUR | 1 370 000.00 | 4.8.2022 | 145 018.45 | 0.02 |
| USD | 4 985 600.06 | CHF | 4 584 000.00 | 2.9.2022 | 176 737.65 | 0.03 |
| USD | 3 564 690.00 | EUR | 3 100 000.00 | 2.9.2022 | 226 780.50 | 0.02 |

UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
- anciennement UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)Rapport annuel et états financiers révisés au 31 mai 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 (suite)
Devise achetée/Montant acheté/Devise vendue/Montant vendu/Date de maturité
| USD | 2 321 542.35 | EUR | 2 015 000.00 | 27.2.2023 | 126 375.97 | 0.02 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 2 672 509.20 | GBP | 2 000 000.00 | 1.3.2023 | 142 878.37 | 0.02 |
| USD | 558 398.90 | EUR | 500 000.00 | 19.1.2023 | 15 125.37 | 0.00 |
| EUR | 276 050 800.00 | USD | 290 969 689.44 | 2.6.2022 | 4 749 730.03 | 0.68 |
| CHF | 180 720 300.00 | USD | 186 079 003.13 | 2.6.2022 | 2 456 075.88 | 0.35 |
| USD | 4 767 931.37 | CHF | 4 707 700.00 | 2.6.2022 | -143 340.86 | -0.02 |
| USD | 608 432.98 | CHF | 610 000.00 | 2.6.2022 | -27 944.88 | 0.00 |
| USD | 2 109 845.12 | EUR | 1 930 000.00 | 30.5.2023 | -4 668.07 | 0.00 |
| USD | 1 660 808.32 | EUR | 1 516 000.00 | 30.5.2023 | -125.36 | 0.00 |
| EUR | 276 050 800.00 | USD | 296 714 858.68 | 1.7.2022 | -517 307.28 | -0.08 |
| CHF | 175 402 600.00 | USD | 183 031 155.53 | 1.7.2022 | 269 394.93 | 0.04 |
| Total des Contrats de change à terme | 8 438 841.24 | 1.20 |
|  |  |  |
| Avoirs en banque, dépôts à vue et à terme et autres liquidités | 13 256 878.84 | 1.89 |
| Autres actifs et passifs | 13 183 715.68 | 1.89 |
| Total de l’Actif net | 700 977 615.75 | 100.00 |

UBS (Lux) Bond SICAV – Short Term USD Corporates Sustainable (USD)*
- anciennement UBS (Lux) Bond SICAV – Short Term USD Corporates (USD)Rapport annuel et états financiers révisés au 31 mai 2022

| Actions en circulation | - | 8 426.0000 | 8 536.0000 |
| --- | --- | --- | --- |
| Valeur nette d’inventaire par action en USD | - | 12 902.82 | 12 323.89 |
| Prix d’émission et de rachat par action en USD 1 | - | 12 902.82 | 12 323.89 |
| 1  Voir note 1 2  La classe d’actions I-B-acc était active jusqu’au 7.8.2019 - réactivée le 18.8.2021 et I-B-acc était en circulation jusqu’au 15.11.2021 3  La catégorie d’actions I-B-dist était en circulation pour la période allant du 19.1.2021 au 17.8.2021 4  Première VNI 15.9.2020 5  La catégorie d’actions U-X-acc était en circulation jusqu’au 9.11.2021 |  |  |  |