# UBS (Lux) Strategy Fund – Fixed Income (CHF)
| Three-year comparison |  |
| --- | --- |
|  | ISIN | 31.1.2021 | 31.1.2020 | 31.1.2019 |
| Net assets in CHF |  | 204 613 530.32 | 229 585 535.74 | 262 595 759.33 |
| Class P-acc | LU0039343222 |  |  |  |
| Units outstanding |  | 78 812.4810 | 87 782.9010 | 97 919.9100 |
| Net asset value per unit in CHF |  | 1 778.06 | 1 767.83 | 1 727.99 |
| Issue and redemption price per unit in CHF 1 |  | 1 778.06 | 1 767.83 | 1 727.99 |
| Class P-dist | LU0039343149 |  |  |  |
| Units outstanding |  | 66 929.8980 | 76 698.7160 | 97 128.6050 |
| Net asset value per unit in CHF |  | 877.05 | 883.32 | 873.15 |
| Issue and redemption price per unit in CHF 1 |  | 877.05 | 883.32 | 873.15 |
| Class Q-acc | LU1240799699 |  |  |  |
| Units outstanding |  | 17 619.2110 | 21 138.2320 | 27 290.3010 |
| Net asset value per unit in CHF |  | 104.03 | 102.99 | 100.24 |
| Issue and redemption price per unit in CHF 1 |  | 104.03 | 102.99 | 100.24 |
| Class Q-dist | LU1240799772 |  |  |  |
| Units outstanding |  | 40 863.9290 | 45 789.2880 | 60 553.2600 |
| Net asset value per unit in CHF |  | 96.58 | 97.70 | 96.57 |
| Issue and redemption price per unit in CHF 1 |  | 96.58 | 97.70 | 96.57 |
| 1  See note 1 |  |  |  |  |
| Performance |  |  |  |  |
|  | Currency | 2020/2021 | 2019/2020 | 2018/2019 |
| Class P-acc | CHF | 0.6% | 2.3% | -1.9% |
| Class P-dist | CHF | 0.6% | 2.3% | -1.9% |
| Class Q-acc | CHF | 1.0% | 2.7% | -1.4% |
| Class Q-dist | CHF | 1.0% | 2.8% | -1.4% |

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 units. The performance data were not audited.
The subfund has no benchmark.

## Report of the Portfolio Manager
In Quarter 1 Covid-19 plunged the global economy into the deepest recession in decades. Subsequent govern- ment aid packages stabilized economic activity and supported a strong recovery across the global financial markets.
Several break-through announcements in the phar- maceutical sector further improved the investor senti- ment towards the year-end whereas scepticism about the implementation of vaccination programmes some- what diminished hopes of a quick normalization in 2021.
Due to its defensive nature the strategy weathered the challenging beginning of 2020 well. The subsequent countermove help to recoup the losses.
Over the financial year, from 1 February 2020 to 31 January 2021 the subfund generated a positive performance.

## Structure of the Securities Portfolio
Classification by Currency as a % of net assets	
CHF	44.36
USD	41.61
EUR	12.39
Classification by Instrument as a % of net assets	
Investment funds, open end	49.07
Medium term notes, fixed rate	24.32
Bonds, fixed rate	12.58
Bonds, zero coupon	3.51
Treasury notes, floating rate	2.96
Treasury notes, fixed rate	1.96
Notes, fixed rate	1.58
Medium term notes, zero coupon	1.45
Notes, zero coupon	0.75
Notes, floating rate	0.18
Total	98.36
UBS (Lux) Strategy Fund – Fixed Income (CHF)
Annual report and audited financial statements as of 31 January 2021

## Statement of Net Assets
Assets	31.1.2021
CHF
Investments in securities, cost	194 750 352.59
| Investments in securities, unrealized appreciation (depreciation) | 	6 498 738.15	 |
| --- | --- |
| Total investments in securities (Note 1) | 201 249 090.74 |
| Cash at banks, deposits on demand and deposit accounts | 2 827 676.15 |
| Other liquid assets (Margins) | 336 443.30 |
| Receivable on subscriptions | 3 572.06 |
| Interest receivable on securities | 327 342.05 |
| Interest receivable on liquid assets | 4.04 |
| Unrealized gain on forward foreign exchange contracts (Note 1) | 246 337.29 |
| Total Assets | 204 990 465.63 |
|  |  |
| Liabilities |  |
| Unrealized loss on financial futures (Note 1) | -143 184.10 |
| Bank overdraft | -0.66 |
| Interest payable on bank overdraft | -10.64 |
| Payable on redemptions | -134 446.56 |
| Provisions for flat fee (Note 2) | -83 819.80 |
| Provisions for taxe d’abonnement (Note 3) | -4 197.14 |
| Provisions for other commissions and fees (Note 2) | 	-11 276.41	 |
| Total provisions | -99 293.35 |
| Total Liabilities | -376 935.31 |
|  |  |
| Net assets at the end of the financial year | 204 613 530.32 |
| Statement of Operations | CHF |
| Income | 1.2.2020-31.1.2021 |
| Interest on liquid assets | 815.30 |
| Interest on securities | 784 697.96 |
| Dividends | 397 801.00 |
| Interest received on swaps (Note 1) | 12 678.60 |
| Income on securities lending (Note 15) | 15 432.47 |
| Other income (Note 4) | 39 523.96 |
| Total income | 1 250 949.29 |
|  |  |
| Expenses |  |
| Interest paid on swaps (Note 1) | -3 558.55 |
| Flat fee (Note 2) | -2 279 480.33 |
| Taxe d’abonnement (Note 3) | -53 789.95 |
| Cost on securities lending (Note 15) | -6 172.99 |
| Other commissions and fees (Note 2) | -26 185.22 |
| Interest on cash and bank overdraft | -4 127.78 |
| Total expenses | -2 373 314.82 |
|  |  |
| Net income (loss) on investments | -1 122 365.53 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | 920 738.85 |
| Realized gain (loss) on yield-evaluated securities and money market instruments | -13 724.47 |
| Realized gain (loss) on financial futures | -25 286.00 |
| Realized gain (loss) on forward foreign exchange contracts | 6 620 147.91 |
| Realized gain (loss) on swaps | 70 320.12 |
| Realized gain (loss) on foreign exchange | -1 072 289.09 |
| Total realized gain (loss) | 6 499 907.32 |
|  |  |
| Net realized gain (loss) of the financial year | 5 377 541.79 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | -3 599 258.78 |
| Unrealized appreciation (depreciation) on yield-evaluated securities and money market instruments | -20 162.61 |
| Unrealized appreciation (depreciation) on financial futures | -143 184.10 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | -787 190.12 |
| Total changes in unrealized appreciation (depreciation) | -4 549 795.61 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | 827 746.18 |

UBS (Lux) Strategy Fund – Fixed Income (CHF) Annual report and audited financial statements as of 31 January 2021
| Statement of Changes in Net Assets |  |
| --- | --- |
|  |  | CHF |
|  |  | 1.2.2020-31.1.2021 |
| Net assets at the beginning of the financial year |  | 229 585 535.74 |
| Subscriptions |  | 2 225 704.87 |
| Redemptions |  | 	-27 143 053.13	 |
| Total net subscriptions (redemptions) |  | -24 917 348.26 |
| Dividend paid |  | -882 403.34 |
| Net income (loss) on investments |  | -1 122 365.53 |
| Total realized gain (loss) |  | 6 499 907.32 |
| Total changes in unrealized appreciation (depreciation) |  | 	-4 549 795.61	 |
| Net increase (decrease) in net assets as a result of operations |  | 827 746.18 |
| Net assets at the end of the financial year |  | 204 613 530.32 |
| Development of the outstanding units |  |  |
|  |  | 1.2.2020-31.1.2021 |
| Class |  | P-acc |
| Number of units outstanding at the beginning of the financial year |  | 87 782.9010 |
| Number of units issued |  | 1 202.4410 |
| Number of units redeemed |  | -10 172.8610 |
| Number of units outstanding at the end of the financial year |  | 78 812.4810 |
| Class |  | P-dist |
| Number of units outstanding at the beginning of the financial year |  | 76 698.7160 |
| Number of units issued |  | 130.1640 |
| Number of units redeemed |  | -9 898.9820 |
| Number of units outstanding at the end of the financial year |  | 66 929.8980 |
| Class |  | Q-acc |
| Number of units outstanding at the beginning of the financial year |  | 21 138.2320 |
| Number of units issued |  | 0.0000 |
| Number of units redeemed |  | -3 519.0210 |
| Number of units outstanding at the end of the financial year |  | 17 619.2110 |
| Class |  | Q-dist |
| Number of units outstanding at the beginning of the financial year |  | 45 789.2880 |
| Number of units issued |  | 0.0000 |
| Number of units redeemed |  | -4 925.3590 |
| Number of units outstanding at the end of the financial year |  | 40 863.9290 |
| Annual Distribution 1 |  |  |
| UBS (Lux) Strategy Fund – Fixed Income (CHF)	Ex-Date | Pay-Date | Currency	Amount per unit |
| P-dist	1.4.2020 | 6.4.2020 | CHF	10.58 |
| Q-dist	1.4.2020 | 6.4.2020 | CHF	1.95 |
| 1  See note 5 |  |  |

UBS (Lux) Strategy Fund – Fixed Income (CHF)
Annual report and audited financial statements as of 31 January 2021

## Statement of Investments in Securities and other Net Assets as of 31 January 2021
| Description | Quantity/ | Valuation in CHF | 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	EUROPEAN INVESTMENT BANK 1.62500% 11-23.11.23 | 850 000.00 | 905 250.00 | 0.44 |
| CHF	EUROPEAN INVESTMENT BANK 1.62500% 14-04.02.25 | 500 000.00 | 545 750.00 | 0.27 |
| CHF	PFANDBRIEFBK SCHWEIZERI HYPO INST-REG-S 0.12500% 20-14.10.33 | 1 100 000.00 | 1 122 000.00 | 0.55 |
| CHF	SULZER AG 0.87500% 20-18.11.27 | 650 000.00 | 661 375.00 | 0.32 |
| Total CHF |  | 3 234 375.00 | 1.58 |
| Total Notes, fixed rate |  | 3 234 375.00 | 1.58 |
| Notes, zero coupon |  |  |  |
| CHF |  |  |  |
| CHF	CREDIT SUISSE SCHWEIZ AG-REG-S 0.00000% 20-31.07.25 | 1 300 000.00 | 1 321 450.00 | 0.65 |
| CHF	PFANDBRIEFBK SCHWEIZERISCHER HYPO-REG-S 0.00000% 19-16.08.23 | 200 000.00 | 203 020.00 | 0.10 |
| Total CHF |  | 1 524 470.00 | 0.75 |
| Total Notes, zero coupon |  | 1 524 470.00 | 0.75 |
| Notes, floating rate |  |  |  |
| CHF |  |  |  |
| CHF	HELVETIA SCHWEIZ VERSICHERUNGS-REG-S-SUB 1.750%/VAR 20-PRP | 350 000.00 | 359 100.00 | 0.18 |
| Total CHF |  | 359 100.00 | 0.18 |
| Total Notes, floating rate |  | 359 100.00 | 0.18 |
| Medium term notes, fixed rate |  |  |  |
| CHF |  |  |  |
| CHF	ADCB FINANCE CAYMAN LTD-REG-S 0.37500% 18-23.01.23 | 650 000.00 | 653 656.25 | 0.32 |
| CHF	ADCB FINANCE CAYMAN LTD 0.72500% 18-15.02.24 | 300 000.00 | 304 968.75 | 0.15 |
| CHF	AGENCE FRANCAISE DE DEVELOPPEMENT 2.62500% 10-18.02.25 | 500 000.00 | 563 250.00 | 0.27 |
| CHF	AMP GROUP FINANCE SERVICES LTD-REG-S 0.80000% 19-18.07.23 | 1 200 000.00 | 1 199 400.00 | 0.59 |
| CHF	AMP GROUP FINANCE SERVICES LTD-REG-S 0.20310% 20-03.06.24 | 360 000.00 | 352 260.00 | 0.17 |
| CHF	AUCKLAND COUNCIL 1.12500% 13-07.02.24 | 650 000.00 | 682 825.00 | 0.33 |
| CHF	BANCO DE CREDITO E INVERSIONES-REG-S 0.40000% 19-22.11.24 | 325 000.00 | 327 437.50 | 0.16 |
| CHF	BANCO SANTANDER CHILE-REG-S 0.38400% 19-27.09.24 | 300 000.00 | 301 854.00 | 0.15 |
| CHF	BANK OF NOVA SCOTIA-REG-S 0.20000% 18-19.11.25 | 1 500 000.00 | 1 545 750.00 | 0.76 |
| CHF	BASELLANDSCHAFTLICHE KANTONALBANK 0.05000% 20-28.01.31 | 850 000.00 | 852 550.00 | 0.42 |
| CHF	BERLIN HYP AG 0.25000% 20-11.09.28 | 1 000 000.00 | 1 021 000.00 | 0.50 |
| CHF	BMW INTERNATIONAL INVESTMENT BV-REG-S 0.30000% 19-05.09.24 | 650 000.00 | 663 325.00 | 0.32 |
| CHF	BNG BANK NV 2.50000% 05-21.07.25 | 900 000.00 | 1 023 750.00 | 0.50 |
| CHF	BNZ INTERNATIONAL FUND LTD/LONDON-REG-S 0.11100% 20-24.07.28 | 300 000.00 | 302 100.00 | 0.15 |
| CHF	CAISSE D’AMORTIS DE LA DETTE SOCIALE 2.50000% 11-09.12.25 | 500 000.00 | 571 500.00 | 0.28 |
| CHF	CAISSE DES DEPOTS ET CONSIGNATIONS 0.25000% 18-30.05.25 | 200 000.00 | 206 200.00 | 0.10 |
| CHF	CBQ FINANCE LTD-REG-S 0.69700% 18-22.03.21 | 1 300 000.00 | 1 300 406.25 | 0.64 |
| CHF	CENTRAL AMERICAN BK ECO INTEGRAT 0.19400% 15-19.11.21 | 200 000.00 | 201 300.00 | 0.10 |
| CHF	CENTRAL AMERICAN BK ECO INTEGRAT-REG-S 0.20000% 19-25.03.24 | 1 000 000.00 | 1 016 500.00 | 0.50 |
| CHF	CITIGROUP INC-REG-S 0.50000% 19-01.11.28 | 275 000.00 | 282 287.50 | 0.14 |
| CHF	COMMONWEALTH BANK OF AUSTRALIA 1.50000% 14-07.02.22 | 185 000.00 | 188 922.00 | 0.09 |
| CHF	CORP ANDINA DE FOMENTO 1.37500% 13-11.02.21 | 1 700 000.00 | 1 700 850.00 | 0.83 |
| CHF	CORPORACION ANDINA DE FOMENTO 0.50000% 15-26.02.26 | 500 000.00 | 511 250.00 | 0.25 |
| CHF	CREDIT AGRICOLE HOME LOAN SFH SA 0.25000% 15-18.06.26 | 600 000.00 | 620 700.00 | 0.30 |
| CHF	CREDIT AGRICOLE HOME LOAN SFH SA-REG-S 0.25000% 18-08.12.25 | 1 450 000.00 | 1 496 400.00 | 0.73 |
| CHF	CREDIT AGRICOLE SA LONDON 0.30000% 17-18.04.24 | 700 000.00 | 712 747.00 | 0.35 |
| CHF	DANSKE BANK AS-REG-S 0.62500% 19-24.11.22 | 1 000 000.00 | 1 011 000.00 | 0.49 |
| CHF	DEUTSCHE BAHN FINANCE BV 1.37500% 13-24.07.23 | 200 000.00 | 210 100.00 | 0.10 |
| CHF	DEUTSCHE BAHN FINANCE GMBH-REG-S 0.50000% 18-18.07.28 | 970 000.00 | 1 027 133.00 | 0.50 |
| CHF	DNB BANK ASA-REG-S 0.05000% 19-13.03.24 | 1 000 000.00 | 1 011 500.00 | 0.49 |
| CHF	DVB BANK SE 0.57500% 15-17.06.22 | 910 000.00 | 915 915.00 | 0.45 |
| CHF	EUROPEAN INVESTMENT BANK 1.50000% 12-02.08.24 | 2 000 000.00 | 2 153 000.00 | 1.05 |
| CHF	EXPORT-IMPORT BANK OF KOREA-REG-S 0.25300% 18-06.03.23 | 1 200 000.00 | 1 215 600.00 | 0.59 |
| CHF	FIRST ABU DHABI BANK PJSC-REG-S 0.20500% 19-04.12.25 | 450 000.00 | 453 796.87 | 0.22 |
| CHF	HYPO NOE GRUPPE BANK AG-REG-S 0.10000% 19-27.11.24 | 600 000.00 | 603 900.00 | 0.29 |
| CHF	HYUNDAI CAPITAL SERVICES INC-REG-S 0.75250% 20-06.07.23 | 325 000.00 | 331 201.00 | 0.16 |
| CHF	INSTITUTO DE CREDITO OFICIAL 3.25000% 07-28.06.24 | 700 000.00 | 788 550.00 | 0.39 |
| CHF	JACKSON NATIONAL LIFE GLOBAL FUND-REG-S 0.30000% 18-18.12.23 | 400 000.00 | 406 000.00 | 0.20 |
| CHF	JACKSON NATIONAL LIFE GLOBAL FUND-REG-S 0.12500% 20-14.07.28 | 600 000.00 | 600 000.00 | 0.29 |
| CHF	JPMORGAN CHASE & CO 0.50000% 15-04.12.23 | 350 000.00 | 358 225.00 | 0.17 |
| CHF	KOMMUNEKREDIT 2.87500% 06-13.10.31 | 400 000.00 | 534 200.00 | 0.26 |
| CHF	KOREA DEVELOPMENT BANK-REG-S 0.44500% 20-08.05.25 | 250 000.00 | 257 750.00 | 0.13 |
| CHF	KOREA GAS CORP-REG-S 0.20750% 18-02.08.23 | 500 000.00 | 506 250.00 | 0.25 |
| CHF	KOREA LAND & HOUSING CORP-REG-S 0.19250% 20-15.06.25 | 280 000.00 | 283 850.00 | 0.14 |
| CHF	KOREA NATIONAL OIL CORP-REG-S 0.37300% 18-01.06.23 | 800 000.00 | 813 600.00 | 0.40 |
| CHF	LAFARGEHOLCIM HELVETIA FINANCE-REG-S 1.05000% 20-11.04.22 | 700 000.00 | 709 940.00 | 0.35 |
| CHF	LUZERNER KANTONALBANK-REG-S 0.10000% 18-08.05.24 | 1 500 000.00 | 1 525 500.00 | 0.75 |
| CHF	MUENCHENER HYPOTHEKENBANK EG-REG-S 0.50000% 18-14.06.28 | 250 000.00 | 264 625.00 | 0.13 |
| CHF	MUENCHENER HYPOTHEKENBANK EG-REG-S 0.00100% 19-19.02.24 | 1 600 000.00 | 1 628 000.00 | 0.80 |
| CHF	MUENCHENER HYPOTHEKENBANK EG-REG-S 0.20000% 19-18.06.31 | 400 000.00 | 413 200.00 | 0.20 |
| CHF	MUNICIPALITY FINANCE PLC 1.37500% 12-08.06.27 | 500 000.00 | 557 500.00 | 0.27 |
| CHF	MUNICIPALITY FINANCE PLC 0.87500% 13-01.02.23 | 1 000 000.00 | 1 031 000.00 | 0.50 |
| CHF	NATIONAL AUSTRALIA BANK LTD 0.25000% 18-13.03.24 | 2 000 000.00 | 2 039 000.00 | 1.00 |
| CHF	NATIONAL AUSTRALIA BANK LTD-REG-S 0.06500% 20-29.01.29 | 900 000.00 | 910 800.00 | 0.44 |
| CHF	NATIONWIDE BUILDING SOCIETY-REG-S 0.16750% 19-11.07.31 | 250 000.00 | 256 625.00 | 0.13 |
| CHF	NATWEST MARKETS PLC-REG-S 0.12500% 19-13.09.23 | 400 000.00 | 402 000.00 | 0.20 |
| CHF	NEDERLANDSE WATERSCHAPSBANK NV 2.37500% 06-27.01.23 | 1 200 000.00 | 1 273 200.00 | 0.62 |
| CHF	NEDERLANDSE WATERSCHAPSBANK NV 1.37500% 12-13.09.27 | 200 000.00 | 223 600.00 | 0.11 |

UBS (Lux) Strategy Fund – Fixed Income (CHF) Annual report and audited financial statements as of 31 January 2021
|  | Description | Quantity/ | Valuation in CHF | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| CHF | OESTERREICHISCHE KONTROLLBANK AG 1.75000% 12-24.05.23 | 700 000.00 | 739 550.00 | 0.36 |
| CHF | ONTARIO, PROVINCE OF 0.25000% 17-28.06.29 | 500 000.00 | 517 750.00 | 0.25 |
| CHF | PFANDBRIEFBK SCHWEIZERISCHER HYPO INST 0.25000% 17-12.10.27 | 500 000.00 | 519 800.00 | 0.25 |
| CHF | PFANDBRIEFBK SCHWEIZER HYPO INST-REG-S 0.12500% 19-08.05.29 | 650 000.00 | 669 305.00 | 0.33 |
| CHF | SANTANDER CONSUMER FINANCE SA-REG-S 0.15000% 19-10.12.24 | 700 000.00 | 708 050.00 | 0.35 |
| CHF | SYNGENTA FINANCE LTD REG-S 1.62500% 14-01.11.24 | 650 000.00 | 653 250.00 | 0.32 |
| CHF | TOTAL CAPITAL INTERNATIONAL SA-REG-S 1.00000% 14-29.08.24 | 500 000.00 | 525 000.00 | 0.26 |
| CHF | UBS GROUP AG-REG-S 0.87500% 19-30.01.25 | 1 400 000.00 | 1 448 300.00 | 0.71 |
| CHF | VERIZON COMMUNICATIONS INC-REG-S 0.37500% 17-31.05.23 | 650 000.00 | 661 050.00 | 0.32 |
| Total CHF |  |  | 49 761 805.12 | 24.32 |
| Total Medium term notes, fixed rate |  | 49 761 805.12 | 24.32 |
| Medium term notes, zero coupon |  |  |  |
| CHF |  |  |  |
| CHF	BANK OF THE PHILIPPINE ISLANDS-REG-S 0.00000% 19-24.09.21 | 400 000.00 | 398 875.00 | 0.20 |
| CHF	EXPORT-IMPORT BANK OF KOREA-REG-S 0.00000% 19-27.05.25 | 500 000.00 | 504 750.00 | 0.25 |
| CHF	KOREA HYDRO & NUCLEAR POWER CO-REG-S 0.00000% 19-19.07.24 | 1 300 000.00 | 1 308 892.00 | 0.64 |
| CHF	NATIONWIDE BUILDING SOCIETY-REG-S 0.00000% 19-11.07.25 | 730 000.00 | 743 140.00 | 0.36 |
| Total CHF |  | 2 955 657.00 | 1.45 |
| Total Medium term notes, zero coupon |  | 2 955 657.00 | 1.45 |
| Bonds, fixed rate |  |  |  |
| CHF |  |  |  |
| CHF	AARGAUISCHE KANTONALBANK 0.15000% 15-18.05.22 | 700 000.00 | 706 510.00 | 0.35 |
| CHF	APPLE INC-REG-S 0.37500% 15-25.11.24 | 280 000.00 | 289 100.00 | 0.14 |
| CHF	BASLER KANTONALBANK 0.15000% 19-02.04.27 | 600 000.00 | 613 500.00 | 0.30 |
| CHF	BASLER KANTONALBANK 0.12500% 20-10.09.32 | 375 000.00 | 378 562.50 | 0.19 |
| CHF	CENTRAL AMERICAN BK ECO INTEGRAT 1.12500% 14-24.02.23 | 1 300 000.00 | 1 342 250.00 | 0.66 |
| CHF	COOP-GRUPPE GENOSSENSCHAFT-REG-S 0.75000% 20-05.05.23 | 550 000.00 | 561 275.00 | 0.27 |
| CHF	DEUTSCHE PFANDBRIEFBANK AG-REG-S 0.12500% 19-05.06.23 | 900 000.00 | 903 600.00 | 0.44 |
| CHF	EUROPEAN INVESTMNT BANK 1.62500% 12-02.04.26 | 500 000.00 | 556 750.00 | 0.27 |
| CHF	FREIBURGER KANTONALBANK 0.14000% 20-12.06.30 | 1 400 000.00 | 1 421 000.00 | 0.69 |
| CHF	GENEVA, CANTON OF-REG-S 0.37500% 20-27.02.30 | 550 000.00 | 574 750.00 | 0.28 |
| CHF	GRAUBUENDNER KANTONALBANK 1.37500% 13-11.03.25 | 1 300 000.00 | 1 396 850.00 | 0.68 |
| CHF	KOREA NATIONAL OIL CORP-REG-S 0.87500 20-21.04.25 | 600 000.00 | 628 200.00 | 0.31 |
| CHF	MONDELEZ INTERNATIONAL INC-REG-S 0.61700% 17-30.09.24 | 1 400 000.00 | 1 436 400.00 | 0.70 |
| CHF	MONDELEZ INTL-REG-S 0.62500% 15-30.12.21 | 150 000.00 | 151 230.00 | 0.07 |
| CHF	OESTERREICHISCHE KONTROLLBANK AG 2.62500% 06-22.11.24 | 2 050 000.00 | 2 300 100.00 | 1.12 |
| CHF	PFANDBRIEFBK SCHWEIZERISCHER HYPO INST 1.87500% 10-15.09.31 | 1 600 000.00 | 1 939 520.00 | 0.95 |
| CHF	PFANDBRIEFBK SCHWEIZERISCHER HYPO INST 1.50000% 14-15.12.25 | 1 000 000.00 | 1 095 800.00 | 0.54 |
| CHF	PFANDBRIEFZENTR SCHWEIZ KANTONALBANKEN 0.01000% 17-05.02.24 | 600 000.00 | 610 200.00 | 0.30 |
| CHF	PFANDBRIEFZENTR SCHWEIZ KANTONALBANKEN 0.25000% 17-06.12.27 | 500 000.00 | 519 500.00 | 0.25 |
| CHF	PFANDBRIEFZENTR SCHWEIZ KANTONAL-REG-S 0.10000% 19-03.12.31 | 1 700 000.00 | 1 740 800.00 | 0.85 |
| CHF	PFANDBRIEFZENTR SCHWEIZ KANTONBK-REG-S 0.12500% 20-03.09.35 | 900 000.00 | 913 230.00 | 0.45 |
| CHF	RAIFFEISEN SCHWEIZ GENOSSENSCHAFT-REG-S 0.18250% 20-11.11.25 | 600 000.00 | 603 000.00 | 0.29 |
| CHF	ROCHE KAPITALMARKT AG 0.10000% 17-23.09.24 | 350 000.00 | 357 175.00 | 0.17 |
| CHF	SGS SA-REG-S 0.45000% 20-06.11.23 | 480 000.00 | 489 120.00 | 0.24 |
| CHF	ST GALLER KANTONALBANK 1.37500% 12-22.06.27 | 700 000.00 | 772 100.00 | 0.38 |
| CHF	UBS AG/LONDON-REG-S 0.17000% 20-13.05.22 | 1 200 000.00 | 1 211 400.00 | 0.59 |
| CHF	UBS GROUP AG-REG-S 0.75000% 16-22.02.22 | 400 000.00 | 404 840.00 | 0.20 |
| CHF	UBS GROUP AG-REG-S 0.62500% 17-18.05.24 | 800 000.00 | 817 600.00 | 0.40 |
| CHF	ZUERCHER KANTONALBANK 0.03000% 16-11.02.22 | 200 000.00 | 201 300.00 | 0.10 |
| CHF	ZUGER KANTONALBANK 0.12500% 19-03.12.29 | 800 000.00 | 811 600.00 | 0.40 |
| Total CHF |  | 25 747 262.50 | 12.58 |
| Total Bonds, fixed rate |  | 25 747 262.50 | 12.58 |
| Bonds, zero coupon |  |  |  |
| CHF |  |  |  |
| CHF	BALOISE HOLDING AG-REG-S 0.00000% 19-23.09.22 | 1 000 000.00 | 997 900.00 | 0.49 |
| CHF	BASEL-STADT, CANTON OF 0.00000% 16-05.09.23 | 500 000.00 | 508 500.00 | 0.25 |
| CHF	BASLER KANTONALBANK-REG-S 0.00000% 18-11.04.22 | 650 000.00 | 653 835.00 | 0.32 |
| CHF	KOREA NATIONAL OIL CORP-REG-S 0.00000% 19-04.10.24 | 1 500 000.00 | 1 514 062.50 | 0.74 |
| CHF	PFANDBRIEFBK SCHWEIZERISCHER HYPO-REG-S 0.00000% 19-06.04.27 | 1 000 000.00 | 1 023 000.00 | 0.50 |
| CHF	PFANDBRIEFZENTR SCHWEIZ KANTONALBANKEN 0.00000% 15-25.07.23 | 260 000.00 | 263 926.00 | 0.13 |
| CHF	PFANDBRIEFZENTR SCHWEIZ KANTONALBANKEN 0.00000% 16-27.01.27 | 200 000.00 | 204 380.00 | 0.10 |
| CHF	VALIANT BANK AG-REG-S 0.00000% 19-31.10.25 | 900 000.00 | 915 750.00 | 0.45 |
| CHF	WALLISER KANTONALBANK-REG-S 0.00000% 20-14.02.29 | 500 000.00 | 502 000.00 | 0.24 |
| CHF	ZUERCHER KANTONALBANK 0.00000% 21-21.01.33 | 600 000.00 | 595 800.00 | 0.29 |
| Total CHF |  | 7 179 153.50 | 3.51 |
| Total Bonds, zero coupon |  | 7 179 153.50 | 3.51 |
| Treasury notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 5.37500% 01-15.02.31 | 350 000.00 | 440 683.87 | 0.22 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.08.27 | 515 000.00 | 504 226.84 | 0.25 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.11.27 | 520 000.00 | 509 284.88 | 0.25 |
| USD	AMERICA, UNITED STATES OF 2.87500% 18-31.05.25 | 210 000.00 | 207 190.63 | 0.10 |
| USD	AMERICA, UNITED STATES OF 2.75000% 14-15.02.24 | 435 000.00 | 417 102.69 | 0.20 |
| USD	AMERICA, UNITED STATES OF 1.12500% 16-31.07.21 | 560 000.00 | 500 744.72 | 0.25 |
| USD	AMERICA, UNITED STATES OF 1.75000% 12-15.05.22 | 455 000.00 | 413 337.70 | 0.20 |
| USD	AMERICA, UNITED STATES OF 1.37500% 16-30.09.23 | 225 000.00 | 206 665.20 | 0.10 |
| USD	AMERICA, UNITED STATES OF 2.12500% 15-15.05.25 | 325 000.00 | 311 154.12 | 0.15 |
| USD	AMERICA, UNITED STATES OF 1.75000% 19-15.11.29 | 200 000.00 | 189 818.40 | 0.09 |
| USD	AMERICA, UNITED STATES OF 0.25000% 20-31.07.25 | 355 000.00 | 314 191.95 | 0.15 |
| Total USD |  | 4 014 401.00 | 1.96 |
| Total Treasury notes, fixed rate |  | 4 014 401.00 | 1.96 |
| UBS (Lux) Strategy Fund – Fixed Income (CHF) Annual report and audited financial statements as of 31 January 2021 |  |  |  |

| Description | Quantity/ | Valuation in CHF | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Treasury notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 3.875%/CPI LINKED 99-15.04.29 | 320 000.00 | 651 930.87 | 0.32 |
| USD	AMERICA, UNITED STATES OF 2.375%/CPI LINKED 04-15.01.25 | 540 000.00 | 780 358.43 | 0.38 |
| USD	AMERICA, UNITED STATES OF 0.625%/CPI LINKED 16-15.01.26 | 600 000.00 | 657 380.90 | 0.32 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 17-15.01.27 | 600 000.00 | 646 936.01 | 0.32 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI INDEX 13-15.07.23 | 570 000.00 | 604 007.12 | 0.29 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 15-15.07.25 | 735 000.00 | 794 519.64 | 0.39 |
| USD	AMERICA, UNITED STATES OF 0.750%/CPI LINKED 18-15.07.28 | 600 000.00 | 648 664.80 | 0.32 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 20-15.01.30 | 660 000.00 | 664 889.77 | 0.32 |
| Total USD |  | 5 448 687.54 | 2.66 |
| Total Treasury notes, floating rate |  | 5 448 687.54 | 2.66 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 100 224 911.66 | 48.99 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Treasury notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 12-15.07.22 | 590 000.00 | 615 239.72 | 0.30 |
| Total USD | 615 239.72 | 0.30 |
| Total Treasury notes, floating rate | 615 239.72 | 0.30 |
| Total Transferable securities and money market instruments traded on another regulated market | 615 239.72 | 0.30 |
| UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 |  |  |
| Investment funds, open end |  |  |
| Luxembourg |  |  |
| EUR | UBS (LUX) BOND FUND - EURO HIGH YIELD (EUR) I-X-ACC | 29 811.00 | 4 473 606.03 | 2.19 |
| EUR | UBS (LUX) BOND SICAV - EUR CORP SUSTAINABLE (EUR) U-X-ACC | 1 518.00 | 20 881 931.01 | 10.20 |
| USD | UBS (LUX) BOND SICAV - SHORT TERM USD CORPORATES (USD) U-X-A | 499.00 | 5 061 963.56 | 2.47 |
| USD | UBS (LUX) BOND SICAV - USD CORPORATES U-X-ACC | 282.00 | 3 286 721.57 | 1.61 |
| USD | UBS (LUX) BOND SICAV - USD HIGH YIELD U-X-ACC | 346.00 | 6 540 106.84 | 3.20 |
| USD | UBS (LUX) BOND SICAV - EMERGING ECONOMIES CORP (USD)-I-X-DIS | 89 442.00 | 8 895 658.04 | 4.35 |
| USD | UBS (LUX) BOND SICAV - USD INVEST GRADE CORP USD U X ACC | 3 363.43 | 36 810 482.14 | 17.99 |
| USD | UBS (LUX) EMERGING ECONOMIES FUND-GLOBAL BONDS (USD)-U-X ACC | 1 116.00 | 14 458 470.17 | 7.06 |
| Total Luxembourg | 100 408 939.36 | 49.07 |
| Total Investment funds, open end | 100 408 939.36 | 49.07 |
| Total UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 | 100 408 939.36 | 49.07 |
| Total investments in securities | 201 249 090.74 | 98.36 |

| Derivative instruments |  |
| --- | --- |
| Derivative instruments listed on an official stock exchange |
| Financial Futures on bonds |
|  |  |  |  |
| EUR	EURO BTP ITALY GOVERMENT FUTURE 08.03.21 | 25.00 | -4 323.10 | 0.00 |
| USD	US LONG BOND FUTURE 22.03.21 | 27.00 | -138 861.00 | -0.07 |
| Total Financial Futures on bonds |  | -143 184.10 | -0.07 |
| Total Derivative instruments listed on an official stock exchange |  | -143 184.10 | -0.07 |
| Total Derivative instruments |  | -143 184.10 | -0.07 |
| Forward Foreign Exchange contracts |  |  |  |
| Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date |  |  |  |

| CHF | 13 491 982.92 | EUR | 12 493 657.25 | 4.2.2021 | -10 408.10 | -0.01 |
| --- | --- | --- | --- | --- | --- | --- |
| CHF | 731 690.30 | AUD | 1 100 000.00 | 4.2.2021 | -19 044.35 | -0.01 |
| SGD | 1 090 000.00 | CHF | 736 764.27 | 4.2.2021 | -6 186.71 | 0.00 |
| CHF | 43 846 323.97 | USD | 48 278 269.07 | 4.2.2021 | 902 562.73 | 0.44 |
| EUR | 120 000.00 | CHF | 129 496.56 | 4.2.2021 | 192.20 | 0.00 |
| EUR | 130 000.00 | CHF | 140 529.09 | 4.2.2021 | -32.93 | 0.00 |
| USD | 150 000.00 | CHF | 134 821.35 | 4.2.2021 | -1 395.60 | 0.00 |
| EUR | 120 000.00 | CHF | 130 137.36 | 4.2.2021 | -448.60 | 0.00 |
| EUR | 120 000.00 | CHF | 129 248.88 | 4.2.2021 | 439.88 | 0.00 |
| USD | 200 000.00 | CHF | 177 362.00 | 4.2.2021 | 539.00 | 0.00 |
| CAD | 600 000.00 | JPY | 48 882 960.00 | 4.2.2021 | 2 462.11 | 0.00 |
| NOK | 6 190 000.00 | USD | 701 227.32 | 4.2.2021 | 20 016.38 | 0.01 |
| AUD | 940 000.00 | JPY | 73 703 837.00 | 4.2.2021 | 15 320.89 | 0.01 |
| CHF | 161 601.51 | EUR | 150 000.00 | 4.2.2021 | -509.44 | 0.00 |
| CHF | 566 852.74 | USD | 640 000.00 | 4.2.2021 | -2 430.45 | 0.00 |
| EUR | 120 000.00 | CHF | 129 703.20 | 4.2.2021 | -14.44 | 0.00 |
| USD | 250 000.00 | CHF | 220 797.25 | 4.2.2021 | 1 579.00 | 0.00 |
| EUR | 150 000.00 | CHF | 162 649.05 | 4.2.2021 | -538.10 | 0.00 |

UBS (Lux) Strategy Fund – Fixed Income (CHF) Annual report and audited financial statements as of 31 January 2021
| Description	Quantity/ | Valuation in CHF | 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
| CHF | 12 873 296.79 | EUR | 11 913 144.96 | 19.3.2021 | 2 059.71 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| CHF | 1 050 033.10 | JPY | 123 388 864.00 | 19.3.2021 | 2 496.41 | 0.00 |
| NOK | 6 190 000.00 | CHF | 643 817.69 | 19.3.2021 | -911.72 | 0.00 |
| CAD | 600 000.00 | CHF | 414 690.00 | 19.3.2021 | 2 631.94 | 0.00 |
| CHF | 41 790 740.26 | USD | 47 783 509.05 | 19.3.2021 | -661 033.39 | -0.32 |
| CHF | 102 525.45 | AUD | 150 000.00 | 19.3.2021 | 252.39 | 0.00 |
| SGD | 1 080 000.00 | CHF | 717 420.63 | 19.3.2021 | 5 560.02 | 0.00 |
| CHF | 1 194.22 | GBP | 999.42 | 19.3.2021 | -25.34 | 0.00 |
| CHF | 128 095.90 | USD | 145 000.00 | 19.3.2021 | -724.84 | 0.00 |
| CHF | 128 254.10 | USD | 145 000.00 | 4.2.2021 | -724.12 | 0.00 |
| IDR | 23 407 270 000.00 | USD | 1 653 289.31 | 26.3.2021 | 7 312.13 | 0.00 |
| INR | 118 910 000.00 | USD | 1 612 645.11 | 26.3.2021 | 6 423.42 | 0.00 |
| RUB | 68 830 000.00 | USD | 926 959.67 | 26.3.2021 | -17 898.16 | -0.01 |
| USD | 1 677 349.66 | TWD | 46 580 000.00 | 26.3.2021 | 3 341.11 | 0.00 |
| CHF | 265 713.60 | USD | 300 000.00 | 4.2.2021 | -1 137.90 | 0.00 |
| CHF | 265 386.90 | USD | 300 000.00 | 19.3.2021 | -1 138.78 | 0.00 |
| CHF | 102 702.27 | GBP | 85 000.00 | 4.2.2021 | -1 124.04 | 0.00 |
| CHF | 102 597.64 | GBP | 85 000.00 | 19.3.2021 | -1 125.02 | 0.00 |
| Total Forward Foreign Exchange contracts | 246 337.29 | 0.11 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 3 164 119.45 | 1.55 |
| Bank overdraft and other short-term liabilities | -0.66 | 0.00 |
| Other assets and liabilities | 97 167.60 | 0.05 |
| Total net assets | 204 613 530.32 | 100.00 |

UBS (Lux) Strategy Fund – Fixed Income (CHF)
Annual report and audited financial statements as of 31 January 2021

Translation (ENFR, 2021-01-31):
# UBS (Lux) Strategy Fund – Fixed Income (CHF)
| Comparaison sur trois ans |  |
| --- | --- |
|  | ISIN | 31.1.2021 | 31.1.2020 | 31.1.2019 |
| Actif net en CHF |  | 204 613 530.32 | 229 585 535.74 | 262 595 759.33 |
| Catégorie P-acc | LU0039343222 |  |  |  |
| Parts en circulation |  | 78 812.4810 | 87 782.9010 | 97 919.9100 |
| Valeur nette d’inventaire par part en CHF |  | 1 778.06 | 1 767.83 | 1 727.99 |
| Prix d’émission et de rachat par part en CHF 1 |  | 1 778.06 | 1 767.83 | 1 727.99 |
| Catégorie P-dist | LU0039343149 |  |  |  |
| Parts en circulation |  | 66 929.8980 | 76 698.7160 | 97 128.6050 |
| Valeur nette d’inventaire par part en CHF |  | 877.05 | 883.32 | 873.15 |
| Prix d’émission et de rachat par part en CHF 1 |  | 877.05 | 883.32 | 873.15 |
| Catégorie Q-acc | LU1240799699 |  |  |  |
| Parts en circulation |  | 17 619.2110 | 21 138.2320 | 27 290.3010 |
| Valeur nette d’inventaire par part en CHF |  | 104.03 | 102.99 | 100.24 |
| Prix d’émission et de rachat par part en CHF 1 |  | 104.03 | 102.99 | 100.24 |
| Catégorie Q-dist | LU1240799772 |  |  |  |
| Parts en circulation |  | 40 863.9290 | 45 789.2880 | 60 553.2600 |
| Valeur nette d’inventaire par part en CHF |  | 96.58 | 97.70 | 96.57 |
| Prix d’émission et de rachat par part en CHF 1 |  | 96.58 | 97.70 | 96.57 |
| 1  Voir note 1 |  |  |  |  |
| Performance |  |  |  |  |
|  | Devise | 2020/2021 | 2019/2020 | 2018/2019 |
| Catégorie P-acc | CHF | 0.6% | 2.3% | -1.9% |
| Catégorie P-dist | CHF | 0.6% | 2.3% | -1.9% |
| Catégorie Q-acc | CHF | 1.0% | 2.7% | -1.4% |
| Catégorie Q-dist | CHF | 1.0% | 2.8% | -1.4% |

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 parts. Les données de performance ne sont pas auditées.
Le compartiment n’a pas d’indice de référence.

## Rapport du Gestionnaire de portefeuille
Au premier trimestre, le Covid-19 a fait plonger l’écono- mie mondiale dans la plus forte récession des dernières décennies. Les plans d’aide successifs des gouvernements ont stabilisé l’activité économique et ont contribué à une solide reprise sur l’ensemble des marchés financiers in- ternationaux.
Plusieurs annonces d’avancées dans le secteur pharma- ceutique ont encore amélioré l’opinion des investisseurs vers la fin de l’année, même si le scepticisme vis-à-vis de la mise en œuvre des programmes de vaccination a quelque peu réduit l’espoir de voir une normalisation ra- pide de la situation en 2021.
En raison de sa nature défensive, la stratégie a bien ré- sisté aux débuts difficiles de 2020. La réaction ultérieure a permis de récupérer les pertes.
Au cours de l’exercice allant du 1
er 
février 2020 au 31 janvier 2021, le compartiment a affiché une perfor- mance positive.

## Structure du portefeuille-titres
Répartition selon les devises en % de l’actif net	
CHF	44.36
USD	41.61
EUR	12.39
Répartition selon les instruments de placement en % de l’actif net	
| Fonds d’investissement, ouvert | 49.07 |
| --- | --- |
| Medium-Term Notes, taux fixe | 24.32 |
| Obligations, taux fixe | 12.58 |
| Obligations, coupon zéro | 3.51 |
| Bons du Trésor à moyen terme, taux variable | 2.96 |
| Bons du Trésor à moyen terme, taux fixe | 1.96 |
| Billets, taux fixe | 1.58 |
| Medium-Term Notes, coupon zéro | 1.45 |
| Notes, coupon zéro | 0.75 |
| Billets, taux variable | 0.18 |
| Total | 98.36 |

UBS (Lux) Strategy Fund – Fixed Income (CHF) Rapport annuel et états financiers révisés au 31 janvier 2021

## Etat des actifs nets
Actif	31.1.2021
CHF
Portefeuille-titres, cours d’achat	194 750 352.59
| Portefeuille-titres, plus-/(moins)-value non réalisée | 	6 498 738.15	 |
| --- | --- |
| Total du Portefeuille-titres (note 1) | 201 249 090.74 |
| Avoirs en banque, dépôts à vue et à terme | 2 827 676.15 |
| Autres liquidités (marges) | 336 443.30 |
| Créances sur souscriptions | 3 572.06 |
| Intérêts à recevoir sur titres | 327 342.05 |
| Intérêts à recevoir sur liquidités | 4.04 |
| Bénéfice non réalisé(e) sur contrats de change à terme (note 1) | 246 337.29 |
| Total de l’Actif | 204 990 465.63 |
|  |  |
| Passif |  |
| Perte non réalisé(e) sur contrats financiers à terme (note 1) | -143 184.10 |
| Crédit en compte courant | -0.66 |
| Intérêts à payer sur crédit en compte courant | -10.64 |
| Engagements sur rachats | -134 446.56 |
| Provisions pour commission de gestion forfaitaire (note 2) | -83 819.80 |
| Provisions pour taxe d’abonnement (note 3) | -4 197.14 |
| Provisions pour autres commissions et frais (note 2) | 	-11 276.41	 |
| Total des Provisions pour frais | -99 293.35 |
| Total du Passif | -376 935.31 |
|  |  |
| Actif net à la fin de l’exercice | 204 613 530.32 |
| Etat des opérations | CHF |
| Revenus | 1.2.2020-31.1.2021 |
| Revenus d’intérêts sur liquidités | 815.30 |
| Intérêts sur titres | 784 697.96 |
| Dividendes | 397 801.00 |
| Revenus d’intérêts sur swaps (note 1) | 12 678.60 |
| Revenus sur prêts de titres (note 15) | 15 432.47 |
| Autres revenus (note 4) | 39 523.96 |
| Total des Revenus | 1 250 949.29 |
|  |  |
| Charges |  |
| Charges d’intérêts sur swaps (note 1) | -3 558.55 |
| Commission de gestion forfaitaire (note 2) | -2 279 480.33 |
| Taxe d’abonnement (note 3) | -53 789.95 |
| Frais sur prêts de titres (note 15) | -6 172.99 |
| Autres commissions et frais (note 2) | -26 185.22 |
| Charges d’intérêts sur liquidités et crédit en compte courant | -4 127.78 |
| Total des Charges | -2 373 314.82 |
|  |  |
| Revenus/pertes net(te)s de placements | -1 122 365.53 |
|  |  |
| Bénéfices/(pertes) réalisé(e)s (note 1) |  |
| Bénéfice/(perte) réalisé(e) sur titres évalués à la valeur de marché hors options | 920 738.85 |
| Bénéfice/(perte) réalisé(e) sur instruments du marché monétaire et titres évalués en fonction des rendements | -13 724.47 |
| Bénéfice/perte réalisé(e) sur contrats financiers à terme | -25 286.00 |
| Bénéfice/(perte) réalisé(e) sur contrats de change à terme | 6 620 147.91 |
| Bénéfice/(perte) réalisé(e) sur swaps | 70 320.12 |
| Bénéfice/(perte) de change réalisé(e) | -1 072 289.09 |
| Total des Bénéfices/(pertes) réalisé(e)s | 6 499 907.32 |
|  |  |
| Bénéfice/(perte) net(te) réalisé(e) au cours de l’exercice | 5 377 541.79 |
|  |  |
| Fluctuations de la plus-/(moins)-value non réalisée (note 1) |  |
| Plus-/(moins)-value non réalisée sur titres évalués à la valeur de marché hors options | -3 599 258.78 |
| Plus-/(moins)-value non réalisée sur instruments du marché monétaire et titres évalués en fonction des rendements | -20 162.61 |
| Plus-/(moins)-value non réalisée sur contrats financiers à terme | -143 184.10 |
| Plus-/(moins)-value non réalisée sur contrats de change à terme | -787 190.12 |
| Total des Fluctuations de la plus-/(moins)-value non réalisée | -4 549 795.61 |
|  |  |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | 827 746.18 |

UBS (Lux) Strategy Fund – Fixed Income (CHF)
Rapport annuel et états financiers révisés au 31 janvier 2021
| Fluctuations de l’actif net |  |
| --- | --- |
|  |  | CHF |
|  |  | 1.2.2020-31.1.2021 |
| Actif net au début de l’exercice |  | 229 585 535.74 |
| Souscriptions |  | 2 225 704.87 |
| Rachats |  | 	-27 143 053.13	 |
| Total des Entrées/(sorties) de capitaux |  | -24 917 348.26 |
| Dividendes versés |  | -882 403.34 |
| Revenus/pertes net(te)s de placements |  | -1 122 365.53 |
| Total des Bénéfices/(pertes) réalisé(e)s |  | 6 499 907.32 |
| Total des Fluctuations de la plus-/(moins)-value non réalisée |  | 	-4 549 795.61	 |
| Augmentation/(diminution) nette de l’actif net issue de l’activité |  | 827 746.18 |
| Actif net à la fin de l’exercice |  | 204 613 530.32 |
| Evolution des parts en circulation |  |  |
|  |  | 1.2.2020-31.1.2021 |
| Catégorie |  | P-acc |
| Nombre de parts en circulation au début de l’exercice |  | 87 782.9010 |
| Nombre de parts émises |  | 1 202.4410 |
| Nombre de parts rachetées |  | -10 172.8610 |
| Nombre de parts en circulation à la fin de l’exercice |  | 78 812.4810 |
| Catégorie |  | P-dist |
| Nombre de parts en circulation au début de l’exercice |  | 76 698.7160 |
| Nombre de parts émises |  | 130.1640 |
| Nombre de parts rachetées |  | -9 898.9820 |
| Nombre de parts en circulation à la fin de l’exercice |  | 66 929.8980 |
| Catégorie |  | Q-acc |
| Nombre de parts en circulation au début de l’exercice |  | 21 138.2320 |
| Nombre de parts émises |  | 0.0000 |
| Nombre de parts rachetées |  | -3 519.0210 |
| Nombre de parts en circulation à la fin de l’exercice |  | 17 619.2110 |
| Catégorie |  | Q-dist |
| Nombre de parts en circulation au début de l’exercice |  | 45 789.2880 |
| Nombre de parts émises |  | 0.0000 |
| Nombre de parts rachetées |  | -4 925.3590 |
| Nombre de parts en circulation à la fin de l’exercice |  | 40 863.9290 |
| Distribution annuelle 1 |  |  |
| UBS (Lux) Strategy Fund – Fixed Income (CHF)	Date de détachement | Date de versement | Devise	Montant par part |
| P-dist	1.4.2020 | 6.4.2020 | CHF	10.58 |
| Q-dist	1.4.2020 | 6.4.2020 | CHF	1.95 |
| 1  Voir note 5 |  |  |

UBS (Lux) Strategy Fund – Fixed Income (CHF) Rapport annuel et états financiers révisés au 31 janvier 2021

## Etat du portefeuille-titres et autres actifs nets au 31 janvier 2021
| Dénomination | Nombre/ | Evaluation en CHF | 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	EUROPEAN INVESTMENT BANK 1.62500% 11-23.11.23 | 850 000.00 | 905 250.00 | 0.44 |
| CHF	EUROPEAN INVESTMENT BANK 1.62500% 14-04.02.25 | 500 000.00 | 545 750.00 | 0.27 |
| CHF	PFANDBRIEFBK SCHWEIZERI HYPO INST-REG-S 0.12500% 20-14.10.33 | 1 100 000.00 | 1 122 000.00 | 0.55 |
| CHF	SULZER AG 0.87500% 20-18.11.27 | 650 000.00 | 661 375.00 | 0.32 |
| Total CHF |  | 3 234 375.00 | 1.58 |
| Total des Billets, taux fixe |  | 3 234 375.00 | 1.58 |
| Billets, coupon zéro |  |  |  |
| CHF |  |  |  |
| CHF	CREDIT SUISSE SCHWEIZ AG-REG-S 0.00000% 20-31.07.25 | 1 300 000.00 | 1 321 450.00 | 0.65 |
| CHF	PFANDBRIEFBK SCHWEIZERISCHER HYPO-REG-S 0.00000% 19-16.08.23 | 200 000.00 | 203 020.00 | 0.10 |
| Total CHF |  | 1 524 470.00 | 0.75 |
| Total des Billets, coupon zéro |  | 1 524 470.00 | 0.75 |
| Billets, taux variable |  |  |  |
| CHF |  |  |  |
| CHF	HELVETIA SCHWEIZ VERSICHERUNGS-REG-S-SUB 1.750%/VAR 20-PRP | 350 000.00 | 359 100.00 | 0.18 |
| Total CHF |  | 359 100.00 | 0.18 |
| Total des Billets, taux variable |  | 359 100.00 | 0.18 |
| Medium-Term Notes, taux fixe |  |  |  |
| CHF |  |  |  |
| CHF	ADCB FINANCE CAYMAN LTD-REG-S 0.37500% 18-23.01.23 | 650 000.00 | 653 656.25 | 0.32 |
| CHF	ADCB FINANCE CAYMAN LTD 0.72500% 18-15.02.24 | 300 000.00 | 304 968.75 | 0.15 |
| CHF	AGENCE FRANCAISE DE DEVELOPPEMENT 2.62500% 10-18.02.25 | 500 000.00 | 563 250.00 | 0.27 |
| CHF	AMP GROUP FINANCE SERVICES LTD-REG-S 0.80000% 19-18.07.23 | 1 200 000.00 | 1 199 400.00 | 0.59 |
| CHF	AMP GROUP FINANCE SERVICES LTD-REG-S 0.20310% 20-03.06.24 | 360 000.00 | 352 260.00 | 0.17 |
| CHF	AUCKLAND COUNCIL 1.12500% 13-07.02.24 | 650 000.00 | 682 825.00 | 0.33 |
| CHF	BANCO DE CREDITO E INVERSIONES-REG-S 0.40000% 19-22.11.24 | 325 000.00 | 327 437.50 | 0.16 |
| CHF	BANCO SANTANDER CHILE-REG-S 0.38400% 19-27.09.24 | 300 000.00 | 301 854.00 | 0.15 |
| CHF	BANK OF NOVA SCOTIA-REG-S 0.20000% 18-19.11.25 | 1 500 000.00 | 1 545 750.00 | 0.76 |
| CHF	BASELLANDSCHAFTLICHE KANTONALBANK 0.05000% 20-28.01.31 | 850 000.00 | 852 550.00 | 0.42 |
| CHF	BERLIN HYP AG 0.25000% 20-11.09.28 | 1 000 000.00 | 1 021 000.00 | 0.50 |
| CHF	BMW INTERNATIONAL INVESTMENT BV-REG-S 0.30000% 19-05.09.24 | 650 000.00 | 663 325.00 | 0.32 |
| CHF	BNG BANK NV 2.50000% 05-21.07.25 | 900 000.00 | 1 023 750.00 | 0.50 |
| CHF	BNZ INTERNATIONAL FUND LTD/LONDON-REG-S 0.11100% 20-24.07.28 | 300 000.00 | 302 100.00 | 0.15 |
| CHF	CAISSE D’AMORTIS DE LA DETTE SOCIALE 2.50000% 11-09.12.25 | 500 000.00 | 571 500.00 | 0.28 |
| CHF	CAISSE DES DEPOTS ET CONSIGNATIONS 0.25000% 18-30.05.25 | 200 000.00 | 206 200.00 | 0.10 |
| CHF	CBQ FINANCE LTD-REG-S 0.69700% 18-22.03.21 | 1 300 000.00 | 1 300 406.25 | 0.64 |
| CHF	CENTRAL AMERICAN BK ECO INTEGRAT 0.19400% 15-19.11.21 | 200 000.00 | 201 300.00 | 0.10 |
| CHF	CENTRAL AMERICAN BK ECO INTEGRAT-REG-S 0.20000% 19-25.03.24 | 1 000 000.00 | 1 016 500.00 | 0.50 |
| CHF	CITIGROUP INC-REG-S 0.50000% 19-01.11.28 | 275 000.00 | 282 287.50 | 0.14 |
| CHF	COMMONWEALTH BANK OF AUSTRALIA 1.50000% 14-07.02.22 | 185 000.00 | 188 922.00 | 0.09 |
| CHF	CORP ANDINA DE FOMENTO 1.37500% 13-11.02.21 | 1 700 000.00 | 1 700 850.00 | 0.83 |
| CHF	CORPORACION ANDINA DE FOMENTO 0.50000% 15-26.02.26 | 500 000.00 | 511 250.00 | 0.25 |
| CHF	CREDIT AGRICOLE HOME LOAN SFH SA 0.25000% 15-18.06.26 | 600 000.00 | 620 700.00 | 0.30 |
| CHF	CREDIT AGRICOLE HOME LOAN SFH SA-REG-S 0.25000% 18-08.12.25 | 1 450 000.00 | 1 496 400.00 | 0.73 |
| CHF	CREDIT AGRICOLE SA LONDON 0.30000% 17-18.04.24 | 700 000.00 | 712 747.00 | 0.35 |
| CHF	DANSKE BANK AS-REG-S 0.62500% 19-24.11.22 | 1 000 000.00 | 1 011 000.00 | 0.49 |
| CHF	DEUTSCHE BAHN FINANCE BV 1.37500% 13-24.07.23 | 200 000.00 | 210 100.00 | 0.10 |
| CHF	DEUTSCHE BAHN FINANCE GMBH-REG-S 0.50000% 18-18.07.28 | 970 000.00 | 1 027 133.00 | 0.50 |
| CHF	DNB BANK ASA-REG-S 0.05000% 19-13.03.24 | 1 000 000.00 | 1 011 500.00 | 0.49 |
| CHF	DVB BANK SE 0.57500% 15-17.06.22 | 910 000.00 | 915 915.00 | 0.45 |
| CHF	EUROPEAN INVESTMENT BANK 1.50000% 12-02.08.24 | 2 000 000.00 | 2 153 000.00 | 1.05 |
| CHF	EXPORT-IMPORT BANK OF KOREA-REG-S 0.25300% 18-06.03.23 | 1 200 000.00 | 1 215 600.00 | 0.59 |
| CHF	FIRST ABU DHABI BANK PJSC-REG-S 0.20500% 19-04.12.25 | 450 000.00 | 453 796.87 | 0.22 |
| CHF	HYPO NOE GRUPPE BANK AG-REG-S 0.10000% 19-27.11.24 | 600 000.00 | 603 900.00 | 0.29 |
| CHF	HYUNDAI CAPITAL SERVICES INC-REG-S 0.75250% 20-06.07.23 | 325 000.00 | 331 201.00 | 0.16 |
| CHF	INSTITUTO DE CREDITO OFICIAL 3.25000% 07-28.06.24 | 700 000.00 | 788 550.00 | 0.39 |
| CHF	JACKSON NATIONAL LIFE GLOBAL FUND-REG-S 0.30000% 18-18.12.23 | 400 000.00 | 406 000.00 | 0.20 |
| CHF	JACKSON NATIONAL LIFE GLOBAL FUND-REG-S 0.12500% 20-14.07.28 | 600 000.00 | 600 000.00 | 0.29 |
| CHF	JPMORGAN CHASE & CO 0.50000% 15-04.12.23 | 350 000.00 | 358 225.00 | 0.17 |
| CHF	KOMMUNEKREDIT 2.87500% 06-13.10.31 | 400 000.00 | 534 200.00 | 0.26 |
| CHF	KOREA DEVELOPMENT BANK-REG-S 0.44500% 20-08.05.25 | 250 000.00 | 257 750.00 | 0.13 |
| CHF	KOREA GAS CORP-REG-S 0.20750% 18-02.08.23 | 500 000.00 | 506 250.00 | 0.25 |
| CHF	KOREA LAND & HOUSING CORP-REG-S 0.19250% 20-15.06.25 | 280 000.00 | 283 850.00 | 0.14 |
| CHF	KOREA NATIONAL OIL CORP-REG-S 0.37300% 18-01.06.23 | 800 000.00 | 813 600.00 | 0.40 |
| CHF	LAFARGEHOLCIM HELVETIA FINANCE-REG-S 1.05000% 20-11.04.22 | 700 000.00 | 709 940.00 | 0.35 |
| CHF	LUZERNER KANTONALBANK-REG-S 0.10000% 18-08.05.24 | 1 500 000.00 | 1 525 500.00 | 0.75 |
| CHF	MUENCHENER HYPOTHEKENBANK EG-REG-S 0.50000% 18-14.06.28 | 250 000.00 | 264 625.00 | 0.13 |
| CHF	MUENCHENER HYPOTHEKENBANK EG-REG-S 0.00100% 19-19.02.24 | 1 600 000.00 | 1 628 000.00 | 0.80 |
| CHF	MUENCHENER HYPOTHEKENBANK EG-REG-S 0.20000% 19-18.06.31 | 400 000.00 | 413 200.00 | 0.20 |
| CHF	MUNICIPALITY FINANCE PLC 1.37500% 12-08.06.27 | 500 000.00 | 557 500.00 | 0.27 |
| CHF	MUNICIPALITY FINANCE PLC 0.87500% 13-01.02.23 | 1 000 000.00 | 1 031 000.00 | 0.50 |
| CHF	NATIONAL AUSTRALIA BANK LTD 0.25000% 18-13.03.24 | 2 000 000.00 | 2 039 000.00 | 1.00 |
| CHF	NATIONAL AUSTRALIA BANK LTD-REG-S 0.06500% 20-29.01.29 | 900 000.00 | 910 800.00 | 0.44 |
| CHF	NATIONWIDE BUILDING SOCIETY-REG-S 0.16750% 19-11.07.31 | 250 000.00 | 256 625.00 | 0.13 |
| CHF	NATWEST MARKETS PLC-REG-S 0.12500% 19-13.09.23 | 400 000.00 | 402 000.00 | 0.20 |
| CHF	NEDERLANDSE WATERSCHAPSBANK NV 2.37500% 06-27.01.23 | 1 200 000.00 | 1 273 200.00 | 0.62 |
| CHF	NEDERLANDSE WATERSCHAPSBANK NV 1.37500% 12-13.09.27 | 200 000.00 | 223 600.00 | 0.11 |

UBS (Lux) Strategy Fund – Fixed Income (CHF)
Rapport annuel et états financiers révisés au 31 janvier 2021
|  | Dénomination | Nombre/ | Evaluation en CHF | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | contrats de | net |
|  |  | change à terme/ |  |
|  |  | swaps (note 1) |  |
|  |  |  |  |  |
| CHF | OESTERREICHISCHE KONTROLLBANK AG 1.75000% 12-24.05.23 | 700 000.00 | 739 550.00 | 0.36 |
| CHF | ONTARIO, PROVINCE OF 0.25000% 17-28.06.29 | 500 000.00 | 517 750.00 | 0.25 |
| CHF | PFANDBRIEFBK SCHWEIZERISCHER HYPO INST 0.25000% 17-12.10.27 | 500 000.00 | 519 800.00 | 0.25 |
| CHF | PFANDBRIEFBK SCHWEIZER HYPO INST-REG-S 0.12500% 19-08.05.29 | 650 000.00 | 669 305.00 | 0.33 |
| CHF | SANTANDER CONSUMER FINANCE SA-REG-S 0.15000% 19-10.12.24 | 700 000.00 | 708 050.00 | 0.35 |
| CHF | SYNGENTA FINANCE LTD REG-S 1.62500% 14-01.11.24 | 650 000.00 | 653 250.00 | 0.32 |
| CHF | TOTAL CAPITAL INTERNATIONAL SA-REG-S 1.00000% 14-29.08.24 | 500 000.00 | 525 000.00 | 0.26 |
| CHF | UBS GROUP AG-REG-S 0.87500% 19-30.01.25 | 1 400 000.00 | 1 448 300.00 | 0.71 |
| CHF | VERIZON COMMUNICATIONS INC-REG-S 0.37500% 17-31.05.23 | 650 000.00 | 661 050.00 | 0.32 |
| Total CHF |  |  | 49 761 805.12 | 24.32 |
| Total des Medium-Term Notes, taux fixe |  | 49 761 805.12 | 24.32 |
| Medium-Term Billets, coupon zéro |  |  |  |
| CHF |  |  |  |
| CHF	BANK OF THE PHILIPPINE ISLANDS-REG-S 0.00000% 19-24.09.21 | 400 000.00 | 398 875.00 | 0.20 |
| CHF	EXPORT-IMPORT BANK OF KOREA-REG-S 0.00000% 19-27.05.25 | 500 000.00 | 504 750.00 | 0.25 |
| CHF	KOREA HYDRO & NUCLEAR POWER CO-REG-S 0.00000% 19-19.07.24 | 1 300 000.00 | 1 308 892.00 | 0.64 |
| CHF	NATIONWIDE BUILDING SOCIETY-REG-S 0.00000% 19-11.07.25 | 730 000.00 | 743 140.00 | 0.36 |
| Total CHF |  | 2 955 657.00 | 1.45 |
| Total des Medium-Term Notes, coupon zéro |  | 2 955 657.00 | 1.45 |
| Obligations, taux fixe |  |  |  |
| CHF |  |  |  |
| CHF	AARGAUISCHE KANTONALBANK 0.15000% 15-18.05.22 | 700 000.00 | 706 510.00 | 0.35 |
| CHF	APPLE INC-REG-S 0.37500% 15-25.11.24 | 280 000.00 | 289 100.00 | 0.14 |
| CHF	BASLER KANTONALBANK 0.15000% 19-02.04.27 | 600 000.00 | 613 500.00 | 0.30 |
| CHF	BASLER KANTONALBANK 0.12500% 20-10.09.32 | 375 000.00 | 378 562.50 | 0.19 |
| CHF	CENTRAL AMERICAN BK ECO INTEGRAT 1.12500% 14-24.02.23 | 1 300 000.00 | 1 342 250.00 | 0.66 |
| CHF	COOP-GRUPPE GENOSSENSCHAFT-REG-S 0.75000% 20-05.05.23 | 550 000.00 | 561 275.00 | 0.27 |
| CHF	DEUTSCHE PFANDBRIEFBANK AG-REG-S 0.12500% 19-05.06.23 | 900 000.00 | 903 600.00 | 0.44 |
| CHF	EUROPEAN INVESTMNT BANK 1.62500% 12-02.04.26 | 500 000.00 | 556 750.00 | 0.27 |
| CHF	FREIBURGER KANTONALBANK 0.14000% 20-12.06.30 | 1 400 000.00 | 1 421 000.00 | 0.69 |
| CHF	GENEVA, CANTON OF-REG-S 0.37500% 20-27.02.30 | 550 000.00 | 574 750.00 | 0.28 |
| CHF	GRAUBUENDNER KANTONALBANK 1.37500% 13-11.03.25 | 1 300 000.00 | 1 396 850.00 | 0.68 |
| CHF	KOREA NATIONAL OIL CORP-REG-S 0.87500 20-21.04.25 | 600 000.00 | 628 200.00 | 0.31 |
| CHF	MONDELEZ INTERNATIONAL INC-REG-S 0.61700% 17-30.09.24 | 1 400 000.00 | 1 436 400.00 | 0.70 |
| CHF	MONDELEZ INTL-REG-S 0.62500% 15-30.12.21 | 150 000.00 | 151 230.00 | 0.07 |
| CHF	OESTERREICHISCHE KONTROLLBANK AG 2.62500% 06-22.11.24 | 2 050 000.00 | 2 300 100.00 | 1.12 |
| CHF	PFANDBRIEFBK SCHWEIZERISCHER HYPO INST 1.87500% 10-15.09.31 | 1 600 000.00 | 1 939 520.00 | 0.95 |
| CHF	PFANDBRIEFBK SCHWEIZERISCHER HYPO INST 1.50000% 14-15.12.25 | 1 000 000.00 | 1 095 800.00 | 0.54 |
| CHF	PFANDBRIEFZENTR SCHWEIZ KANTONALBANKEN 0.01000% 17-05.02.24 | 600 000.00 | 610 200.00 | 0.30 |
| CHF	PFANDBRIEFZENTR SCHWEIZ KANTONALBANKEN 0.25000% 17-06.12.27 | 500 000.00 | 519 500.00 | 0.25 |
| CHF	PFANDBRIEFZENTR SCHWEIZ KANTONAL-REG-S 0.10000% 19-03.12.31 | 1 700 000.00 | 1 740 800.00 | 0.85 |
| CHF	PFANDBRIEFZENTR SCHWEIZ KANTONBK-REG-S 0.12500% 20-03.09.35 | 900 000.00 | 913 230.00 | 0.45 |
| CHF	RAIFFEISEN SCHWEIZ GENOSSENSCHAFT-REG-S 0.18250% 20-11.11.25 | 600 000.00 | 603 000.00 | 0.29 |
| CHF	ROCHE KAPITALMARKT AG 0.10000% 17-23.09.24 | 350 000.00 | 357 175.00 | 0.17 |
| CHF	SGS SA-REG-S 0.45000% 20-06.11.23 | 480 000.00 | 489 120.00 | 0.24 |
| CHF	ST GALLER KANTONALBANK 1.37500% 12-22.06.27 | 700 000.00 | 772 100.00 | 0.38 |
| CHF	UBS AG/LONDON-REG-S 0.17000% 20-13.05.22 | 1 200 000.00 | 1 211 400.00 | 0.59 |
| CHF	UBS GROUP AG-REG-S 0.75000% 16-22.02.22 | 400 000.00 | 404 840.00 | 0.20 |
| CHF	UBS GROUP AG-REG-S 0.62500% 17-18.05.24 | 800 000.00 | 817 600.00 | 0.40 |
| CHF	ZUERCHER KANTONALBANK 0.03000% 16-11.02.22 | 200 000.00 | 201 300.00 | 0.10 |
| CHF	ZUGER KANTONALBANK 0.12500% 19-03.12.29 | 800 000.00 | 811 600.00 | 0.40 |
| Total CHF |  | 25 747 262.50 | 12.58 |
| Total des Obligations, taux fixe |  | 25 747 262.50 | 12.58 |
| Obligations, coupon zéro |  |  |  |
| CHF |  |  |  |
| CHF	BALOISE HOLDING AG-REG-S 0.00000% 19-23.09.22 | 1 000 000.00 | 997 900.00 | 0.49 |
| CHF	BASEL-STADT, CANTON OF 0.00000% 16-05.09.23 | 500 000.00 | 508 500.00 | 0.25 |
| CHF	BASLER KANTONALBANK-REG-S 0.00000% 18-11.04.22 | 650 000.00 | 653 835.00 | 0.32 |
| CHF	KOREA NATIONAL OIL CORP-REG-S 0.00000% 19-04.10.24 | 1 500 000.00 | 1 514 062.50 | 0.74 |
| CHF	PFANDBRIEFBK SCHWEIZERISCHER HYPO-REG-S 0.00000% 19-06.04.27 | 1 000 000.00 | 1 023 000.00 | 0.50 |
| CHF	PFANDBRIEFZENTR SCHWEIZ KANTONALBANKEN 0.00000% 15-25.07.23 | 260 000.00 | 263 926.00 | 0.13 |
| CHF	PFANDBRIEFZENTR SCHWEIZ KANTONALBANKEN 0.00000% 16-27.01.27 | 200 000.00 | 204 380.00 | 0.10 |
| CHF	VALIANT BANK AG-REG-S 0.00000% 19-31.10.25 | 900 000.00 | 915 750.00 | 0.45 |
| CHF	WALLISER KANTONALBANK-REG-S 0.00000% 20-14.02.29 | 500 000.00 | 502 000.00 | 0.24 |
| CHF	ZUERCHER KANTONALBANK 0.00000% 21-21.01.33 | 600 000.00 | 595 800.00 | 0.29 |
| Total CHF |  | 7 179 153.50 | 3.51 |
| Total des Obligations, coupon zéro |  | 7 179 153.50 | 3.51 |
| Bons du Trésor à moyen terme, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 5.37500% 01-15.02.31 | 350 000.00 | 440 683.87 | 0.22 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.08.27 | 515 000.00 | 504 226.84 | 0.25 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.11.27 | 520 000.00 | 509 284.88 | 0.25 |
| USD	AMERICA, UNITED STATES OF 2.87500% 18-31.05.25 | 210 000.00 | 207 190.63 | 0.10 |
| USD	AMERICA, UNITED STATES OF 2.75000% 14-15.02.24 | 435 000.00 | 417 102.69 | 0.20 |
| USD	AMERICA, UNITED STATES OF 1.12500% 16-31.07.21 | 560 000.00 | 500 744.72 | 0.25 |
| USD	AMERICA, UNITED STATES OF 1.75000% 12-15.05.22 | 455 000.00 | 413 337.70 | 0.20 |
| USD	AMERICA, UNITED STATES OF 1.37500% 16-30.09.23 | 225 000.00 | 206 665.20 | 0.10 |
| USD	AMERICA, UNITED STATES OF 2.12500% 15-15.05.25 | 325 000.00 | 311 154.12 | 0.15 |
| USD	AMERICA, UNITED STATES OF 1.75000% 19-15.11.29 | 200 000.00 | 189 818.40 | 0.09 |
| USD	AMERICA, UNITED STATES OF 0.25000% 20-31.07.25 | 355 000.00 | 314 191.95 | 0.15 |
| Total USD |  | 4 014 401.00 | 1.96 |
| Total des Bons du Trésor à moyen terme, taux fixe |  | 4 014 401.00 | 1.96 |

UBS (Lux) Strategy Fund – Fixed Income (CHF) Rapport annuel et états financiers révisés au 31 janvier 2021
| Dénomination | Nombre/ | Evaluation en CHF | en % |
| --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | contrats de | net |
|  |  | change à terme/ |  |
|  |  | swaps (note 1) |  |

Bons du Trésor à moyen terme, taux variable
| USD |  |
| --- | --- |
| USD | AMERICA, UNITED STATES OF 3.875%/CPI LINKED 99-15.04.29 | 320 000.00 | 651 930.87 | 0.32 |
| USD | AMERICA, UNITED STATES OF 2.375%/CPI LINKED 04-15.01.25 | 540 000.00 | 780 358.43 | 0.38 |
| USD | AMERICA, UNITED STATES OF 0.625%/CPI LINKED 16-15.01.26 | 600 000.00 | 657 380.90 | 0.32 |
| USD | AMERICA, UNITED STATES OF 0.375%/CPI LINKED 17-15.01.27 | 600 000.00 | 646 936.01 | 0.32 |
| USD | AMERICA, UNITED STATES OF 0.375%/CPI INDEX 13-15.07.23 | 570 000.00 | 604 007.12 | 0.29 |
| USD | AMERICA, UNITED STATES OF 0.375%/CPI LINKED 15-15.07.25 | 735 000.00 | 794 519.64 | 0.39 |
| USD | AMERICA, UNITED STATES OF 0.750%/CPI LINKED 18-15.07.28 | 600 000.00 | 648 664.80 | 0.32 |
| USD | AMERICA, UNITED STATES OF 0.125%/CPI LINKED 20-15.01.30 | 660 000.00 | 664 889.77 | 0.32 |
| Total USD |  |  | 5 448 687.54 | 2.66 |
| Total des Bons du Trésor à moyen terme, taux variable |  | 5 448 687.54 | 2.66 |
| Total des Titres et instruments du marché monétaire négociés sur une bourse officielle |  | 100 224 911.66 | 48.99 |
| Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  |  |  |
| Bons du Trésor à moyen terme, taux variable |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 12-15.07.22 | 590 000.00 | 615 239.72 | 0.30 |
| Total USD |  | 615 239.72 | 0.30 |
| Total des Bons du Trésor à moyen terme, taux variable |  | 615 239.72 | 0.30 |
| Total des Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  | 615 239.72 | 0.30 |

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
Luxembourg
| EUR | UBS (LUX) BOND FUND - EURO HIGH YIELD (EUR) I-X-ACC | 29 811.00 | 4 473 606.03 | 2.19 |
| --- | --- | --- | --- | --- |
| EUR | UBS (LUX) BOND SICAV - EUR CORP SUSTAINABLE (EUR) U-X-ACC | 1 518.00 | 20 881 931.01 | 10.20 |
| USD | UBS (LUX) BOND SICAV - SHORT TERM USD CORPORATES (USD) U-X-A | 499.00 | 5 061 963.56 | 2.47 |
| USD | UBS (LUX) BOND SICAV - USD CORPORATES U-X-ACC | 282.00 | 3 286 721.57 | 1.61 |
| USD | UBS (LUX) BOND SICAV - USD HIGH YIELD U-X-ACC | 346.00 | 6 540 106.84 | 3.20 |
| USD | UBS (LUX) BOND SICAV - EMERGING ECONOMIES CORP (USD)-I-X-DIS | 89 442.00 | 8 895 658.04 | 4.35 |
| USD | UBS (LUX) BOND SICAV - USD INVEST GRADE CORP USD U X ACC | 3 363.43 | 36 810 482.14 | 17.99 |
| USD | UBS (LUX) EMERGING ECONOMIES FUND-GLOBAL BONDS (USD)-U-X ACC | 1 116.00 | 14 458 470.17 | 7.06 |
| Total Luxembourg | 100 408 939.36 | 49.07 |
| Total des Fonds d’investissement, ouvert | 100 408 939.36 | 49.07 |
| Total des OPCVM/Autres OPC au sens de l’article 41 (1) e) de la loi luxembourgeoise du 17 décembre 2010, telle que modifiée | 100 408 939.36 | 49.07 |
| Total du Portefeuille-titres | 201 249 090.74 | 98.36 |

| Instruments dérivés |  |
| --- | --- |
| Instruments dérivés négociés sur une bourse officielle |
| Contrats financiers à terme sur obligations |
|  |  |  |  |
| EUR	EURO BTP ITALY GOVERMENT FUTURE 08.03.21 | 25.00 | -4 323.10 | 0.00 |
| USD	US LONG BOND FUTURE 22.03.21 | 27.00 | -138 861.00 | -0.07 |
| Total des Contrats financiers à terme sur obligations |  | -143 184.10 | -0.07 |
| Total des Instruments dérivés négociés sur une bourse officielle |  | -143 184.10 | -0.07 |
| Total des Instruments dérivés |  | -143 184.10 | -0.07 |
| Contrats de change à terme |  |  |  |
| Devise achetée/Montant acheté/Devise vendue/Montant vendu/Date de maturité |  |  |  |

| CHF | 13 491 982.92 | EUR | 12 493 657.25 | 4.2.2021 | -10 408.10 | -0.01 |
| --- | --- | --- | --- | --- | --- | --- |
| CHF | 731 690.30 | AUD | 1 100 000.00 | 4.2.2021 | -19 044.35 | -0.01 |
| SGD | 1 090 000.00 | CHF | 736 764.27 | 4.2.2021 | -6 186.71 | 0.00 |
| CHF | 43 846 323.97 | USD | 48 278 269.07 | 4.2.2021 | 902 562.73 | 0.44 |
| EUR | 120 000.00 | CHF | 129 496.56 | 4.2.2021 | 192.20 | 0.00 |
| EUR | 130 000.00 | CHF | 140 529.09 | 4.2.2021 | -32.93 | 0.00 |
| USD | 150 000.00 | CHF | 134 821.35 | 4.2.2021 | -1 395.60 | 0.00 |
| EUR | 120 000.00 | CHF | 130 137.36 | 4.2.2021 | -448.60 | 0.00 |
| EUR | 120 000.00 | CHF | 129 248.88 | 4.2.2021 | 439.88 | 0.00 |
| USD | 200 000.00 | CHF | 177 362.00 | 4.2.2021 | 539.00 | 0.00 |
| CAD | 600 000.00 | JPY | 48 882 960.00 | 4.2.2021 | 2 462.11 | 0.00 |
| NOK | 6 190 000.00 | USD | 701 227.32 | 4.2.2021 | 20 016.38 | 0.01 |
| AUD | 940 000.00 | JPY | 73 703 837.00 | 4.2.2021 | 15 320.89 | 0.01 |
| CHF | 161 601.51 | EUR | 150 000.00 | 4.2.2021 | -509.44 | 0.00 |
| CHF | 566 852.74 | USD | 640 000.00 | 4.2.2021 | -2 430.45 | 0.00 |
| EUR | 120 000.00 | CHF | 129 703.20 | 4.2.2021 | -14.44 | 0.00 |
| USD | 250 000.00 | CHF | 220 797.25 | 4.2.2021 | 1 579.00 | 0.00 |
| EUR | 150 000.00 | CHF | 162 649.05 | 4.2.2021 | -538.10 | 0.00 |

UBS (Lux) Strategy Fund – Fixed Income (CHF)
Rapport annuel et états financiers révisés au 31 janvier 2021
| Dénomination	Nombre/ | Evaluation en CHF | 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
| CHF | 12 873 296.79 | EUR | 11 913 144.96 | 19.3.2021 | 2 059.71 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| CHF | 1 050 033.10 | JPY | 123 388 864.00 | 19.3.2021 | 2 496.41 | 0.00 |
| NOK | 6 190 000.00 | CHF | 643 817.69 | 19.3.2021 | -911.72 | 0.00 |
| CAD | 600 000.00 | CHF | 414 690.00 | 19.3.2021 | 2 631.94 | 0.00 |
| CHF | 41 790 740.26 | USD | 47 783 509.05 | 19.3.2021 | -661 033.39 | -0.32 |
| CHF | 102 525.45 | AUD | 150 000.00 | 19.3.2021 | 252.39 | 0.00 |
| SGD | 1 080 000.00 | CHF | 717 420.63 | 19.3.2021 | 5 560.02 | 0.00 |
| CHF | 1 194.22 | GBP | 999.42 | 19.3.2021 | -25.34 | 0.00 |
| CHF | 128 095.90 | USD | 145 000.00 | 19.3.2021 | -724.84 | 0.00 |
| CHF | 128 254.10 | USD | 145 000.00 | 4.2.2021 | -724.12 | 0.00 |
| IDR | 23 407 270 000.00 | USD | 1 653 289.31 | 26.3.2021 | 7 312.13 | 0.00 |
| INR | 118 910 000.00 | USD | 1 612 645.11 | 26.3.2021 | 6 423.42 | 0.00 |
| RUB | 68 830 000.00 | USD | 926 959.67 | 26.3.2021 | -17 898.16 | -0.01 |
| USD | 1 677 349.66 | TWD | 46 580 000.00 | 26.3.2021 | 3 341.11 | 0.00 |
| CHF | 265 713.60 | USD | 300 000.00 | 4.2.2021 | -1 137.90 | 0.00 |
| CHF | 265 386.90 | USD | 300 000.00 | 19.3.2021 | -1 138.78 | 0.00 |
| CHF | 102 702.27 | GBP | 85 000.00 | 4.2.2021 | -1 124.04 | 0.00 |
| CHF | 102 597.64 | GBP | 85 000.00 | 19.3.2021 | -1 125.02 | 0.00 |
| Total des Contrats de change à terme | 246 337.29 | 0.11 |
|  |  |  |
| Avoirs en banque, dépôts à vue et à terme et autres liquidités | 3 164 119.45 | 1.55 |
| Crédit en compte courant et autres engagements à court terme | -0.66 | 0.00 |
| Autres actifs et passifs | 97 167.60 | 0.05 |
| Total de l’Actif net | 204 613 530.32 | 100.00 |

UBS (Lux) Strategy Fund – Fixed Income (CHF) Rapport annuel et états financiers révisés au 31 janvier 2021