# UBS (Lux) Bond SICAV – Fixed Maturity Series 1 (USD)
| Three-year comparison |  |
| --- | --- |
|  | ISIN | 31.5.2022 |  | 31.5.2021 | 31.5.2020 |
| Net assets in USD |  | 64 469 617.11 |  | 87 642 444.56 | 100 052 940.59 |
| Class P-qdist | LU2100412902 |  |  |  |  |
| Shares outstanding |  | 706 043.6160 |  | 815 043.6160 | 915 543.6160 |
| Net asset value per share in USD |  | 90.81 |  | 107.02 | 106.58 |
| Issue and redemption price per share in USD 1 |  | 90.81 |  | 107.02 | 106.58 |
| Class (HKD) P-qdist | LU2100413033 |  |  |  |  |
| Shares outstanding |  | 3 000.0000 |  | 3 000.0000 | 18 000.0000 |
| Net asset value per share in HKD |  | 918.36 |  | 1 070.70 | 1 065.15 |
| Issue and redemption price per share in HKD 1 |  | 918.36 |  | 1 070.70 | 1 065.15 |
| 1  See note 1 |  |  |  |  |  |
| Performance |  |  |  |  |  |
|  |  | Currency | 2021/2022 | 2020/2021 | 2020 |
| Class P-qdist |  | USD | -10.6% | 5.1% | - |
| Class (HKD) P-qdist |  | HKD | -9.6% | 5.2% | - |

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.
The subfund has no benchmark.
UBS (Lux) Bond SICAV – Fixed Maturity Series 1 (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 Treasury yields increased particularly as inflation reached multi-decade highs in the US and the Fed began to shift to a more hawkish monetary policy. The Fed had mostly maintained rates at very low levels but began shifting to tighter monetary policy and increasing rates during the latter part of the reporting period to com- bat inflation. US Treasury yields increased sharply as a result reflecting expectations for tighter monetary policy. Credit spreads across most sectors including investment grade, high yield, and Asia credit finished the period at higher levels. Spread widening was in part driven by the volatility induced by a shift in monetary policy and higher interest rates, but also given geopolitical risks and funda- mental concerns in the Asia region in particular.
The subfund delivered a negative performance during the financial year. Both the increase in US Treasury yields as well as a widening of credit spreads across the invest- ment grade, high yield, and Asia credit sectors were the primary drivers of performance over the course of the period. The fund also had an allocation to the Chinese real estate sector during the reporting period which was negatively impacted by a number of defaults within the sector. Income was a positive contributor but not enough to offset the negative effects from interest rates and credit spread movements. The subfund has followed a diversified approach, investing across a range of sec- tors and regions with a fixed maturity approach. The option-adjusted duration of the subfund at the end of the reporting period was lower than at the beginning of the period as underlying holdings moved closer to final maturity with the fund duration finishing the period at
1.2 years.

## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
| United States | 65.16 |
| --- | --- |
| United Kingdom | 4.75 |
| China | 4.44 |
| Finland | 2.66 |
| Mexico | 2.61 |
| Cayman Islands | 2.33 |
| Ireland | 2.18 |
| Singapore | 2.15 |
| Mongolia | 2.10 |
| Hong Kong | 1.87 |
| The Netherlands | 1.74 |
| British Virgin Islands | 1.73 |
| South Korea | 1.38 |
| Australia | 0.95 |
| Bahamas | 0.78 |
| Indonesia | 0.66 |
| Canada | 0.66 |
| Malaysia | 0.31 |
| Total | 98.46 |

Economic Breakdown as a % of net assets	
| Finance & holding companies | 26.60 |
| --- | --- |
| Banks & credit institutions | 23.88 |
| Telecommunications | 7.14 |
| Real Estate | 4.85 |
| Building industry & materials | 4.45 |
| Internet, software & IT services | 3.52 |
| Pharmaceuticals, cosmetics & medical products | 3.44 |
| Petroleum | 3.19 |
| Lodging, catering & leisure | 3.17 |
| Graphic design, publishing & media | 2.33 |
| Aerospace industry | 2.07 |
| Mining, coal & steel | 1.98 |
| Insurance | 1.91 |
| Miscellaneous services | 1.90 |
| Countries & central governments | 1.84 |
| Textiles, garments & leather goods | 1.23 |
| Packaging industry | 1.01 |
| Mortgage & funding institutions | 0.79 |
| Miscellaneous trading companies | 0.77 |
| Retail trade, department stores | 0.65 |
| Healthcare & social services | 0.63 |
| Computer hardware & network equipment providers | 0.56 |
| Electronics & semiconductors | 0.55 |
| Total | 98.46 |

UBS (Lux) Bond SICAV – Fixed Maturity Series 1 (USD) Annual report and audited financial statements as of 31 May 2022

## Statement of Net Assets
Assets	31.5.2022
USD
Investments in securities, cost	69 571 575.32
| Investments in securities, unrealized appreciation (depreciation) | 	-6 097 105.66	 |
| --- | --- |
| Total investments in securities (Note 1) | 63 474 469.66 |
| Cash at banks, deposits on demand and deposit accounts | 733 266.12 |
| Interest receivable on securities | 747 735.36 |
| Prepaid expenses | 18 536.13 |
| Total Assets | 64 974 007.27 |
|  |  |
| Liabilities |  |
| Payable on securities purchases (Note 1) | -458 415.71 |
| Provisions for flat fee (Note 2) | -33 287.67 |
| Provisions for taxe d’abonnement (Note 3) | -5 401.99 |
| Provisions for other commissions and fees (Note 2) | 	-7 284.79	 |
| Total provisions | -45 974.45 |
| Total Liabilities | -504 390.16 |
|  |  |
| Net assets at the end of the financial year | 64 469 617.11 |
| Statement of Operations | USD |
| Income | 1.6.2021-31.5.2022 |
| Interest on liquid assets | 42.16 |
| Interest on securities | 3 617 195.55 |
| Net income on securities lending (Note 17) | 1 615.71 |
| Other income (Note 4) | 24 030.40 |
| Total income | 3 642 883.82 |
|  |  |
| Expenses |  |
| Flat fee (Note 2) | -467 092.34 |
| Taxe d’abonnement (Note 3) | -37 352.25 |
| Other commissions and fees (Note 2) | -19 008.45 |
| Total expenses | -523 453.04 |
|  |  |
| Net income (loss) on investments | 3 119 430.78 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | -259 404.57 |
| Realized gain (loss) on foreign exchange | -1 721.38 |
| Total realized gain (loss) | -261 125.95 |
|  |  |
| Net realized gain (loss) of the financial year | 2 858 304.83 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | -11 613 554.67 |
| Total changes in unrealized appreciation (depreciation) | -11 613 554.67 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | -8 755 249.84 |

UBS (Lux) Bond SICAV – Fixed Maturity Series 1 (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 | 87 642 444.56 |
| Redemptions | 	-10 277 340.34	 |
| Total redemptions | -10 277 340.34 |
| Dividend paid | -4 140 237.27 |
| Net income (loss) on investments | 3 119 430.78 |
| Total realized gain (loss) | -261 125.95 |
| Total changes in unrealized appreciation (depreciation) | 	-11 613 554.67	 |
| Net increase (decrease) in net assets as a result of operations | -8 755 249.84 |
| Net assets at the end of the financial year | 64 469 617.11 |

| Changes in the Number of Shares outstanding |  |
| --- | --- |
|  | 1.6.2021-31.5.2022 |
| Class | P-qdist |
| Number of shares outstanding at the beginning of the financial year | 815 043.6160 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -109 000.0000 |
| Number of shares outstanding at the end of the financial year | 706 043.6160 |
| Class | (HKD) P-qdist |
| Number of shares outstanding at the beginning of the financial year | 3 000.0000 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the financial year | 3 000.0000 |

| Quarterly Distribution 1 |  |
| --- | --- |
| UBS (Lux) Bond SICAV – Fixed Maturity Series 1 (USD) | Ex-Date | Pay-Date | Currency | Amount per share |
| P-qdist | 15.6.2021 | 18.6.2021 | USD | 1.31 |
| P-qdist | 15.9.2021 | 20.9.2021 | USD | 1.31 |
| P-qdist | 15.12.2021 | 20.12.2021 | USD | 1.30 |
| P-qdist | 15.3.2022 | 18.3.2022 | USD | 1.28 |
| (HKD) P-qdist | 15.6.2021 | 18.6.2021 | HKD | 13.18 |
| (HKD) P-qdist | 15.9.2021 | 20.9.2021 | HKD | 13.18 |
| (HKD) P-qdist | 15.12.2021 | 20.12.2021 | HKD | 13.03 |
| (HKD) P-qdist | 15.3.2022 | 18.3.2022 | HKD | 12.89 |
| 1  See note 5 |  |  |  |  |

UBS (Lux) Bond SICAV – Fixed Maturity Series 1 (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 |  |  |  |
| USD |  |  |  |
| USD	ABBOTT LABORATORIES 3.40000% 16-30.11.23 | 1 425 000.00 | 1 442 586.47 | 2.24 |
| USD	ADOBE INC 1.70000% 20-01.02.23 | 350 000.00 | 348 759.65 | 0.54 |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 4.50000% 20-15.09.23 | 1 400 000.00 | 1 404 828.42 | 2.18 |
| USD	AIR LEASE CORP 3.00000% 16-15.09.23 | 500 000.00 | 495 693.00 | 0.77 |
| USD	BALL CORP 4.00000% 13-15.11.23 | 650 000.00 | 651 514.50 | 1.01 |
| USD	BERKSHIRE HATHAWAY INC 2.75000% 16-15.03.23 | 1 475 000.00 | 1 481 420.52 | 2.30 |
| USD	BOEING CO 4.50800% 20-01.05.23 | 1 325 000.00 | 1 336 996.46 | 2.07 |
| USD	BUCKEYE PARTNERS L P 4.15000% 13-01.07.23 | 425 000.00 | 426 831.88 | 0.66 |
| USD	CANARA BANK/LONDON-REG-S 3.87500% 19-28.03.24 | 1 500 000.00 | 1 491 505.20 | 2.31 |
| USD	CENTURYLINK INC 6.75000% 13-01.12.23 | 225 000.00 | 230 343.75 | 0.36 |
| USD	CENTURYLINK INC 7.50000% 16-01.04.24 | 1 200 000.00 | 1 241 640.00 | 1.93 |
| USD	CHINA CINDA FINANCE (2014) LTD-REG-S 5.62500% 14-14.05.24 | 200 000.00 | 206 537.50 | 0.32 |
| USD	CIGNA CORP 3.75000% 19-15.07.23 | 673 000.00 | 679 744.08 | 1.05 |
| USD	COMCAST CORP 3.70000% 18-15.04.24 | 1 475 000.00 | 1 499 380.70 | 2.32 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 6.50000% 19-08.04.24 | 725 000.00 | 518 375.00 | 0.80 |
| USD	DCP MIDSTREAM OPERATING LP 3.87500% 13-15.03.23 | 550 000.00 | 549 536.29 | 0.85 |
| USD	ENLINK MIDSTREAM PARTNERS LP 4.40000% 14-01.04.24 | 360 000.00 | 359 550.00 | 0.56 |
| USD	EQT MIDSTREAM PARTNERS LP 4.75000% 18-15.07.23 | 415 000.00 | 421 557.00 | 0.65 |
| USD	EXPORT-IMPORT BANK OF KOREA 4.00000% 14-14.01.24 | 575 000.00 | 585 529.69 | 0.91 |
| USD	FIFTH THIRD BANCORP 3.65000% 19-25.01.24 | 750 000.00 | 755 303.81 | 1.17 |
| USD	FORD MOTOR CREDIT CO LLC 5.58400% 19-18.03.24 | 1 325 000.00 | 1 340 735.69 | 2.08 |
| USD	FORTUNE STAR BVI LTD-REG-S 6.75000% 19-02.07.23 | 375 000.00 | 368 156.25 | 0.57 |
| USD	GENERAL MOTORS FINANCIAL CO INC 3.95000% 17-13.04.24 | 500 000.00 | 503 319.11 | 0.78 |
| USD	GENWORTH HOLDINGS INC 4.80000% 18-15.02.24 | 550 000.00 | 551 578.50 | 0.85 |
| USD	GLAXOSMITHKLINE CAPITAL INC 3.37500% 18-15.05.23 | 1 450 000.00 | 1 465 295.08 | 2.27 |
| USD	GOLDMAN SACHS GROUP INC/THE 3.20000% 18-23.02.23 | 775 000.00 | 778 442.38 | 1.21 |
| USD	INDONESIA, REPUBLIC OF 4.45000% 18-11.02.24 | 200 000.00 | 203 272.00 | 0.32 |
| USD	JPMORGAN CHASE & CO 2.70000% 16-18.05.23 | 1 525 000.00 | 1 526 777.57 | 2.37 |
| USD	KAISA GROUP HOLDINGS-REG-S *DEFAULTED* 11.50000% 19-30.01.23 | 1 350 000.00 | 216 000.00 | 0.34 |
| USD	KB HOME 7.62500% 15-15.05.23 | 825 000.00 | 836 814.00 | 1.30 |
| USD	LENNAR CORP 4.87500% 15-15.12.23 | 450 000.00 | 458 073.63 | 0.71 |
| USD	LOGAN PROPERTY HOLDINGS CO LTD-REG-S 5.25000% 17-23.02.23 | 225 000.00 | 52 875.00 | 0.08 |
| USD	MGM RESORTS INTL 6.00000% 14-15.03.23 | 350 000.00 | 353 500.00 | 0.55 |
| USD	NAVIENT CORP 7.25000% 16-25.09.23 | 238 000.00 | 243 374.31 | 0.38 |
| USD	NEW METRO GLOBAL LTD-REG-S 6.80000% 20-05.08.23 | 800 000.00 | 540 664.00 | 0.84 |
| USD	PETROLEOS MEXICANOS 4.87500% 13-18.01.24 | 830 000.00 | 832 075.00 | 1.29 |
| USD	QUALCOMM INC 2.60000% 17-30.01.23 | 306 000.00 | 306 655.05 | 0.48 |
| USD	RANGE RESOURCES CORP 5.00000% 17-15.03.23 | 375 000.00 | 375 468.75 | 0.58 |
| USD	REDSUN PROPERTIES GROUP LTD-REG-S 9.70000% 20-16.04.23 | 675 000.00 | 121 500.00 | 0.19 |
| USD	RKPF OVERSEAS 2019 A LTD-REG-S 7.87500% 19-01.02.23 | 255 000.00 | 220 575.00 | 0.34 |
| USD	RONSHINE CHINA HOLDINGS LTD-REG-S 8.10000% 19-09.06.23 | 675 000.00 | 108 000.00 | 0.17 |
| USD	SEAZEN GROUP LIMITED-REG-S 6.15000% 19-15.04.23 | 575 000.00 | 405 375.00 | 0.63 |
| USD	SERVICE PROPERTIES TRUST 4.65000% 14-15.03.24 | 430 000.00 | 397 536.37 | 0.62 |
| USD	SPRINGLEAF FINANCE CORP 5.62500% 17-15.03.23 | 1 425 000.00 | 1 435 730.25 | 2.23 |
| USD	SPRINT CORP 7.87500% 14-15.09.23 | 1 525 000.00 | 1 597 437.50 | 2.48 |
| USD	TENET HEALTHCARE CORP 6.75000% 15-15.06.23 | 400 000.00 | 407 880.41 | 0.63 |
| USD	TEVA PHARMACEUTICAL FINANCE NL III BV 6.00000% 18-15.04.24 | 410 000.00 | 413 280.00 | 0.64 |
| USD	UNITED AIRLINES HOLDINGS INC 5.00000% 17-01.02.24 | 400 000.00 | 399 888.08 | 0.62 |
| USD	US BANCORP 3.37500% 19-05.02.24 | 1 100 000.00 | 1 107 379.02 | 1.72 |
| USD	YANLORD LAND HK CO LTD-REG-S 6.80000% 19-27.02.24 | 400 000.00 | 380 152.00 | 0.59 |
| USD	YUM BRANDS INC 3.87500% 13-01.11.23 | 900 000.00 | 902 250.00 | 1.40 |
| Total USD |  | 34 977 693.87 | 54.26 |
| Total Notes, fixed rate |  | 34 977 693.87 | 54.26 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BK OF AMERICA CORP 3.004%/VAR 18-20.12.23 | 1 400 000.00 | 1 399 641.01 | 2.17 |
| USD	CITIGROUP INC 2.876%/VAR 17-24.07.23 | 1 550 000.00 | 1 550 390.81 | 2.40 |
| USD	LLOYDS BANKING GROUP PLC 2.907%/3M LIBOR+81BP 17-07.11.23 | 1 575 000.00 | 1 573 358.00 | 2.44 |
| USD	WYNDHAM WORLDWIDE CORP STEP UP/RATING LINKED 17-01.04.24 | 400 000.00 | 403 240.00 | 0.63 |
| Total USD |  | 4 926 629.82 | 7.64 |
| Total Notes, floating rate |  | 4 926 629.82 | 7.64 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	BANK OF CHINA/HONG KONG-REG-S 3.12500% 19-17.04.24 | 200 000.00 | 200 316.00 | 0.31 |
| USD	BANKOK BANK PCL HONG KONG-REG-S 4.05000% 18-19.03.24 | 200 000.00 | 202 600.00 | 0.31 |
| USD	BOC AVIATION LTD-REG-S 4.00000% 19-25.01.24 | 1 375 000.00 | 1 383 411.70 | 2.15 |
| USD	BOCOM LEASING MGT HONG KONG-REG-S 4.37500% 19-22.01.24 | 200 000.00 | 202 600.00 | 0.31 |
| USD	GREENLAND GLOBAL INVESTMENT LTD-REG-S 6.75000% 19-26.09.23 | 550 000.00 | 156 750.00 | 0.24 |
| USD	ICBCIL FINANCE CO LTD-REG-S 3.75000% 19-05.03.24 | 200 000.00 | 200 560.80 | 0.31 |
| USD	INDONESIA EXIMBANK-REG-S 3.87500% 17-06.04.24 | 225 000.00 | 224 550.00 | 0.35 |
| USD	KASIKORNBANK PCL/HONG KONG-REG-S 3.25600% 18-12.07.23 | 200 000.00 | 200 600.00 | 0.31 |
| USD	KWG GROUP HOLDINGS LTD-REG-S 7.40000% 19-05.03.24 | 875 000.00 | 245 000.00 | 0.38 |
| USD	MONGOLIA,GOVERNMENT OF-REG-S 8.75000% 17-09.03.24 | 660 000.00 | 676 623.76 | 1.05 |
| USD	MORGAN STANLEY-SUB 4.10000% 13-22.05.23 | 1 525 000.00 | 1 544 760.29 | 2.40 |
| USD	NAVIENT CORP 6.12500% 14-25.03.24 | 500 000.00 | 499 206.56 | 0.78 |
| USD	RHB BANK BHD-REG-S 3.76600% 19-19.02.24 | 200 000.00 | 201 537.50 | 0.31 |
| USD	SIAM COMMERCIAL BK CAYMAN ISLAND-REG-S 3.90000% 19-11.02.24 | 200 000.00 | 201 975.00 | 0.31 |
| USD	WELLS FARGO & CO 3.75000% 19-24.01.24 | 750 000.00 | 759 748.80 | 1.18 |
| Total USD |  | 6 900 240.41 | 10.70 |
| Total Medium term notes, fixed rate |  | 6 900 240.41 | 10.70 |
| UBS (Lux) Bond SICAV – Fixed Maturity Series 1 (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) |  |

Bonds, fixed rate
| USD |  |
| --- | --- |
| USD | BAIDU INC 3.87500% 18-29.09.23 | 200 000.00 | 201 758.00 | 0.31 |
| USD | BRASKEM FINANCE LTD 6.45000% 14-03.02.24 | 500 000.00 | 521 562.50 | 0.81 |
| USD | CHINA SCE PROPERTY HOLDINGS LTD-REG-S 7.37500% 19-09.04.24 | 225 000.00 | 119 250.00 | 0.19 |
| USD | COMPETITION TEAM TECHNOLOGIES LTD-REG-S 3.75000% 19-12.03.24 | 500 000.00 | 503 843.75 | 0.78 |
| USD | DEVELOPMENT BANK OF MONGOLIA LLC-REG-S 7.25000% 18-23.10.23 | 700 000.00 | 679 350.00 | 1.05 |
| USD | EASY TACTIC LTD-REG-S 8.62500% 19-27.02.24 | 2 050 000.00 | 415 509.38 | 0.65 |
| USD | JABABEKA INTERNATIONAL BV-REG-S 6.50000% 16-05.10.23 | 500 000.00 | 350 000.00 | 0.54 |
| USD | KOREA, REPUBLIC OF 3.87500% 13-11.09.23 | 300 000.00 | 304 556.25 | 0.47 |
| USD | MINERA Y METALURGICA DEL BOLEO-REG-S 3.25000% 19-17.04.24 | 850 000.00 | 848 565.63 | 1.32 |
| USD | SEAGATE HDD CAYMAN 4.87500% 17-01.03.24 | 350 000.00 | 359 744.00 | 0.56 |
| USD | STATE GRID OVERSEAS INV 2013 LTD-REG-S 3.12500% 13-22.05.23 | 200 000.00 | 200 528.00 | 0.31 |
| USD | SUNAC CHINA HOLDINGS LTD-REG-S 7.50000% 19-01.02.24 | 225 000.00 | 36 000.00 | 0.06 |
| USD | YUZHOU PROPERTIES-REG-S*DEFAULTED* 8.50000% 19-26.02.24 | 725 000.00 | 79 750.00 | 0.12 |
| Total USD |  |  | 4 620 417.51 | 7.17 |
| Total Bonds, fixed rate |  | 4 620 417.51 | 7.17 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 51 424 981.61 | 79.77 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	ALBERTSONS COS LLC / SAFEWAY INC-144A 3.50000% 20-15.02.23 | 900 000.00 | 895 517.91 | 1.39 |
| USD	CCO HOLDINGS LLC/CAPITAL CORP-144A 4.00000% 17-01.03.23 | 730 000.00 | 726 255.10 | 1.13 |
| USD	FIRST QUANTUM MINERALS LTD-144A 6.50000% 18-01.03.24 | 425 000.00 | 425 398.44 | 0.66 |
| USD	FMG RESOURCES AUGUST 2006 PTY LTD-144A 5.12500% 17-15.05.24 | 600 000.00 | 611 562.00 | 0.95 |
| USD	HANESBRANDS INC-144A 4.62500% 16-15.05.24 | 800 000.00 | 796 000.00 | 1.23 |
| USD	NETFLIX INC 5.75000% 14-01.03.24 | 1 650 000.00 | 1 716 858.00 | 2.66 |
| USD	NEWMARK GROUP INC 6.12500% 19-15.11.23 | 350 000.00 | 353 062.50 | 0.55 |
| USD	NORDEA BANK ABP-144A 3.75000% 18-30.08.23 | 1 700 000.00 | 1 713 707.13 | 2.66 |
| USD	OWENS-BROCKWAY GLASS CONTAINER INC-144A 5.87500% 15-15.08.23 | 878 000.00 | 886 780.00 | 1.38 |
| USD	PRICOA GLOBAL FUNDING I-144A 2.45000% 17-21.09.22 | 509 000.00 | 509 423.58 | 0.79 |
| USD	PRIME SEC SER BORROWER LLC/FIN INC-144A 5.25000% 19-15.04.24 | 350 000.00 | 349 562.50 | 0.54 |
| USD	QVC INC 4.85000% 14-01.04.24 | 350 000.00 | 341 250.00 | 0.53 |
| USD	REALOGY GROUP/CO ISSUER-144A 4.87500% 16-01.06.23 | 350 000.00 | 347 504.50 | 0.54 |
| USD	ROYAL CARIBBEAN CRUISES LTD-144A 9.12500% 20-15.06.23 | 375 000.00 | 382 500.00 | 0.59 |
| USD	SENSATA TECHNOLOGIES BV-144A 4.87500% 13-15.10.23 | 355 000.00 | 355 885.85 | 0.55 |
| USD	TAYLOR MOR/MOR HOLDINGS II INC-144A 5.62500% 14-01.03.24 | 350 000.00 | 353 020.54 | 0.55 |
| Total USD |  | 10 764 288.05 | 16.70 |
| Total Notes, fixed rate |  | 10 764 288.05 | 16.70 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	ELANCO ANIMAL HEALTH INC STEP-UP/RTG LKD 19-27.08.23 | 355 000.00 | 362 100.00 | 0.56 |
| Total USD |  | 362 100.00 | 0.56 |
| Total Notes, floating rate |  | 362 100.00 | 0.56 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 11 126 388.05 | 17.26 |

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 | NORDSTROM INC 2.30000% 21-08.04.24 | 435 000.00 | 417 600.00 | 0.65 |
| USD | VICI PROPERTIES LP /VCI NTE CO INC-144A 5.62500% 22-01.05.24 | 500 000.00 | 505 500.00 | 0.78 |
| Total USD |  |  | 923 100.00 | 1.43 |
| Total Notes, fixed rate | 923 100.00 | 1.43 |
| Total Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market | 923 100.00 | 1.43 |
| Total investments in securities | 63 474 469.66 | 98.46 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 733 266.12 | 1.14 |
| Other assets and liabilities | 261 881.33 | 0.40 |
| Total net assets | 64 469 617.11 | 100.00 |

UBS (Lux) Bond SICAV – Fixed Maturity Series 1 (USD) Annual report and audited financial statements as of 31 May 2022

Translation (ENFR, 2022-05-31):
# UBS (Lux) Bond SICAV – Fixed Maturity Series 1 (USD)
| Comparaison sur trois ans |  |
| --- | --- |
|  | ISIN | 31.5.2022 |  | 31.5.2021 | 31.5.2020 |
| Actif net en USD |  | 64 469 617.11 |  | 87 642 444.56 | 100 052 940.59 |
| Catégorie P-qdist | LU2100412902 |  |  |  |  |
| Actions en circulation |  | 706 043.6160 |  | 815 043.6160 | 915 543.6160 |
| Valeur nette d’inventaire par action en USD |  | 90.81 |  | 107.02 | 106.58 |
| Prix d’émission et de rachat par action en USD 1 |  | 90.81 |  | 107.02 | 106.58 |
| Catégorie (HKD) P-qdist | LU2100413033 |  |  |  |  |
| Actions en circulation |  | 3 000.0000 |  | 3 000.0000 | 18 000.0000 |
| Valeur nette d’inventaire par action en HKD |  | 918.36 |  | 1 070.70 | 1 065.15 |
| Prix d’émission et de rachat par action en HKD 1 |  | 918.36 |  | 1 070.70 | 1 065.15 |
| 1  Voir note 1 |  |  |  |  |  |
| Performance |  |  |  |  |  |
|  |  | Devise | 2021/2022 | 2020/2021 | 2020 |
| Catégorie P-qdist |  | USD | -10.6% | 5.1% | - |
| Catégorie (HKD) P-qdist |  | HKD | -9.6% | 5.2% | - |

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.
Le compartiment n’a pas d’indice de référence.
UBS (Lux) Bond SICAV – Fixed Maturity Series 1 (USD) Rapport annuel et états financiers révisés au 31 mai 2022

## Rapport du Gestionnaire de portefeuille
Au cours de l’exercice financier compris entre le 1
er 
juin 2021 et le 31 mai 2022, les rendements des bons du Trésor américain ont augmenté, en particulier dans la mesure où l’inflation a atteint des sommets jamais vus depuis plusieurs décennies aux États-Unis et où la Fed a commencé à s’orienter vers une politique monétaire plus belliciste. Pour l’essentiel, la Fed a maintenu ses taux à des niveaux très bas, mais a commencé à resserrer sa politique monétaire et à augmenter ses taux au cours de la dernière partie de la période sous revue afin de lutter contre l’inflation. Les rendements des bons du Tré- sor américain ont nettement augmenté en conséquence, reflétant les prévisions de resserrement de la politique monétaire. Les écarts de crédit de la plupart des secteurs, y compris le crédit «Investment grade», à haut rende- ment et asiatique, ont terminé la période à des niveaux plus élevés. L’élargissement des écarts a été en partie imputable à la volatilité induite par un changement de politique monétaire et la hausse des taux d’intérêt, mais aussi aux risques géopolitiques et aux craintes liées aux fondamentaux, en particulier en Asie.
Le compartiment a réalisé une performance négative au cours de l’exercice. Tant la hausse des rendements des bons du Trésor américain que l’élargissement des écarts dans les secteurs du crédit «Investment grade», à haut rendement et asiatique, ont constitué les principaux moteurs de performance sur la période. Au cours de la période sous revue, le fonds disposait également d’une allocation au secteur immobilier chinois, qui a pâti d’un certain nombre de défauts de paiement dans le secteur. Les revenus ont apporté une contribution positive, qui n’a cependant pas été suffisante pour annuler les effets négatifs de l’évolution des taux d’intérêt et des écarts de crédit. Le compartiment a adopté une approche diversi- fiée, investissant dans une grande variété de secteurs et de régions selon une stratégie à échéance fixe. La dura- tion du compartiment ajustée de l’option a diminué à la fin de la période sous revue par rapport au début de la période, les participations sous-jacentes se rapprochant de l’échéance finale, la duration du fonds terminant à
1.2 an.

## Structure du portefeuille-titres
Répartition géographique en % de l’actif net	
| Etats-Unis | 65.16 |
| --- | --- |
| Grande-Bretagne | 4.75 |
| Chine | 4.44 |
| Finlande | 2.66 |
| Mexique | 2.61 |
| Iles Caïmans | 2.33 |
| Irlande | 2.18 |
| Singapour | 2.15 |
| Mongolie | 2.10 |
| Hong Kong | 1.87 |
| Pays-Bas | 1.74 |
| Iles Vierges britanniques | 1.73 |
| Corée du Sud | 1.38 |
| Australie | 0.95 |
| Bahamas | 0.78 |
| Indonésie | 0.66 |
| Canada | 0.66 |
| Malaisie | 0.31 |
| Total | 98.46 |

Répartition économique en % de l’actif net	
| Etablissements financiers et sociétés de participation | 26.60 |
| --- | --- |
| Banques & instituts de crédit | 23.88 |
| Télécommunications | 7.14 |
| Immobilier | 4.85 |
| Bâtiment et matériaux de construction | 4.45 |
| Internet, logiciels et services informatiques | 3.52 |
| Produits pharmaceutiques, cosmétiques & médicaux | 3.44 |
| Pétrole | 3.19 |
| Restauration et loisirs | 3.17 |
| Industrie graphique, édition et médias | 2.33 |
| Industrie aéronautique et spatiale | 2.07 |
| Industrie minière, charbon et acier | 1.98 |
| Assurances | 1.91 |
| Services divers | 1.90 |
| Gouvernements nationaux et centraux | 1.84 |
| Textiles, habillement & maroquinerie | 1.23 |
| Industrie de conditionnement | 1.01 |
| Emetteurs d’obligations sécurisées (Pfandbriefe) et |  |
| sociétés de refinancement | 0.79 |
| Diverses sociétés commerciales | 0.77 |
| Commerce de détail, centres commerciaux | 0.65 |
| Soins de santé & services sociaux | 0.63 |
| Equipement informatique et de réseau | 0.56 |
| Electronique et semi-conducteurs | 0.55 |
| Total | 98.46 |

UBS (Lux) Bond SICAV – Fixed Maturity Series 1 (USD) Rapport annuel et états financiers révisés au 31 mai 2022

## Etat des actifs nets
Actif	31.5.2022
USD
Portefeuille-titres, cours d’achat	69 571 575.32
| Portefeuille-titres, plus- (moins-) value non-réalisée | 	-6 097 105.66	 |
| --- | --- |
| Total portefeuille-titres (note 1) | 63 474 469.66 |
| Avoirs en banque, dépôts à vue et à terme | 733 266.12 |
| Intérêts à recevoir sur titres | 747 735.36 |
| Frais payés d’avance | 18 536.13 |
| Total Actif | 64 974 007.27 |
|  |  |
| Passif |  |
| A payer sur achats de titres (note 1) | -458 415.71 |
| Provisions pour commission de gestion forfaitaire (note 2) | -33 287.67 |
| Provisions pour taxe d’abonnement (note 3) | -5 401.99 |
| Provisions pour autres commissions et frais (note 2) | 	-7 284.79	 |
| Total des Provisions pour frais | -45 974.45 |
| Total Passif | -504 390.16 |
|  |  |
| Actifs nets à la fin de l’exercice | 64 469 617.11 |
| Etat des opérations | USD |
| Revenus | 1.6.2021-31.5.2022 |
| Revenus d’intérêts sur liquidités | 42.16 |
| Intérêts sur titres | 3 617 195.55 |
| Revenus nets sur prêts de titres (note 17) | 1 615.71 |
| Autres revenus (note 4) | 24 030.40 |
| Total des Revenus | 3 642 883.82 |
|  |  |
| Charges |  |
| Commission de gestion forfaitaire (note 2) | -467 092.34 |
| Taxe d’abonnement (note 3) | -37 352.25 |
| Autres commissions et frais (note 2) | -19 008.45 |
| Total des Charges | -523 453.04 |
|  |  |
| Revenus (Pertes) net(te)s des investissements | 3 119 430.78 |
|  |  |
| Bénéfices (pertes) réalisé(e)s (note 1) |  |
| Bénéfice (perte) réalisé(e) sur titres évalués à la valeur de marché hors options | -259 404.57 |
| Bénéfice (perte) réalisé(e) de change réalisé(e) | -1 721.38 |
| Total des Bénéfices (pertes) réalisé(e)s | -261 125.95 |
|  |  |
| Bénéfice (perte) net(te) réalisé(e) au cours de l’exercice | 2 858 304.83 |
|  |  |
| Variations des plus- (moins-) values non-réalisées (note 1) |  |
| Plus- (Moins-) value non réalisée sur titres évalués à la valeur de marché hors options | -11 613 554.67 |
| Total des Variations des plus- (moins-) values non-réalisées | -11 613 554.67 |
|  |  |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | -8 755 249.84 |

UBS (Lux) Bond SICAV – Fixed Maturity Series 1 (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 | 87 642 444.56 |
| Rachats | 	-10 277 340.34	 |
| Total Rachats | -10 277 340.34 |
| Dividendes versés | -4 140 237.27 |
| Revenus (Pertes) net(te)s des investissements | 3 119 430.78 |
| Total des Bénéfices (pertes) réalisé(e)s | -261 125.95 |
| Total des Variations des plus- (moins-) values non-réalisées | 	-11 613 554.67	 |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | -8 755 249.84 |
| Actifs nets à la fin de l’exercice | 64 469 617.11 |

| Evolution des actions en circulation |  |
| --- | --- |
|  | 1.6.2021-31.5.2022 |
| Catégorie | P-qdist |
| Nombre d’actions en circulation au début de l’exercice | 815 043.6160 |
| Nombre d’actions émises | 0.0000 |
| Nombre d’actions rachetées | -109 000.0000 |
| Nombre d’actions en circulation à la fin de l’exercice | 706 043.6160 |
| Catégorie | (HKD) P-qdist |
| Nombre d’actions en circulation au début de l’exercice | 3 000.0000 |
| Nombre d’actions émises | 0.0000 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de l’exercice | 3 000.0000 |

| Distribution trimestrielle 1 |  |
| --- | --- |
| UBS (Lux) Bond SICAV – Fixed Maturity Series 1 (USD) | Date de détachement | Date de versement | Devise | Montant par action |
| P-qdist | 15.6.2021 | 18.6.2021 | USD | 1.31 |
| P-qdist | 15.9.2021 | 20.9.2021 | USD | 1.31 |
| P-qdist | 15.12.2021 | 20.12.2021 | USD | 1.30 |
| P-qdist | 15.3.2022 | 18.3.2022 | USD | 1.28 |
| (HKD) P-qdist | 15.6.2021 | 18.6.2021 | HKD | 13.18 |
| (HKD) P-qdist | 15.9.2021 | 20.9.2021 | HKD | 13.18 |
| (HKD) P-qdist | 15.12.2021 | 20.12.2021 | HKD | 13.03 |
| (HKD) P-qdist | 15.3.2022 | 18.3.2022 | HKD | 12.89 |
| 1  Voir note 5 |  |  |  |  |

UBS (Lux) Bond SICAV – Fixed Maturity Series 1 (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 |  |  |  |
| USD |  |  |  |
| USD	ABBOTT LABORATORIES 3.40000% 16-30.11.23 | 1 425 000.00 | 1 442 586.47 | 2.24 |
| USD	ADOBE INC 1.70000% 20-01.02.23 | 350 000.00 | 348 759.65 | 0.54 |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 4.50000% 20-15.09.23 | 1 400 000.00 | 1 404 828.42 | 2.18 |
| USD	AIR LEASE CORP 3.00000% 16-15.09.23 | 500 000.00 | 495 693.00 | 0.77 |
| USD	BALL CORP 4.00000% 13-15.11.23 | 650 000.00 | 651 514.50 | 1.01 |
| USD	BERKSHIRE HATHAWAY INC 2.75000% 16-15.03.23 | 1 475 000.00 | 1 481 420.52 | 2.30 |
| USD	BOEING CO 4.50800% 20-01.05.23 | 1 325 000.00 | 1 336 996.46 | 2.07 |
| USD	BUCKEYE PARTNERS L P 4.15000% 13-01.07.23 | 425 000.00 | 426 831.88 | 0.66 |
| USD	CANARA BANK/LONDON-REG-S 3.87500% 19-28.03.24 | 1 500 000.00 | 1 491 505.20 | 2.31 |
| USD	CENTURYLINK INC 6.75000% 13-01.12.23 | 225 000.00 | 230 343.75 | 0.36 |
| USD	CENTURYLINK INC 7.50000% 16-01.04.24 | 1 200 000.00 | 1 241 640.00 | 1.93 |
| USD	CHINA CINDA FINANCE (2014) LTD-REG-S 5.62500% 14-14.05.24 | 200 000.00 | 206 537.50 | 0.32 |
| USD	CIGNA CORP 3.75000% 19-15.07.23 | 673 000.00 | 679 744.08 | 1.05 |
| USD	COMCAST CORP 3.70000% 18-15.04.24 | 1 475 000.00 | 1 499 380.70 | 2.32 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 6.50000% 19-08.04.24 | 725 000.00 | 518 375.00 | 0.80 |
| USD	DCP MIDSTREAM OPERATING LP 3.87500% 13-15.03.23 | 550 000.00 | 549 536.29 | 0.85 |
| USD	ENLINK MIDSTREAM PARTNERS LP 4.40000% 14-01.04.24 | 360 000.00 | 359 550.00 | 0.56 |
| USD	EQT MIDSTREAM PARTNERS LP 4.75000% 18-15.07.23 | 415 000.00 | 421 557.00 | 0.65 |
| USD	EXPORT-IMPORT BANK OF KOREA 4.00000% 14-14.01.24 | 575 000.00 | 585 529.69 | 0.91 |
| USD	FIFTH THIRD BANCORP 3.65000% 19-25.01.24 | 750 000.00 | 755 303.81 | 1.17 |
| USD	FORD MOTOR CREDIT CO LLC 5.58400% 19-18.03.24 | 1 325 000.00 | 1 340 735.69 | 2.08 |
| USD	FORTUNE STAR BVI LTD-REG-S 6.75000% 19-02.07.23 | 375 000.00 | 368 156.25 | 0.57 |
| USD	GENERAL MOTORS FINANCIAL CO INC 3.95000% 17-13.04.24 | 500 000.00 | 503 319.11 | 0.78 |
| USD	GENWORTH HOLDINGS INC 4.80000% 18-15.02.24 | 550 000.00 | 551 578.50 | 0.85 |
| USD	GLAXOSMITHKLINE CAPITAL INC 3.37500% 18-15.05.23 | 1 450 000.00 | 1 465 295.08 | 2.27 |
| USD	GOLDMAN SACHS GROUP INC/THE 3.20000% 18-23.02.23 | 775 000.00 | 778 442.38 | 1.21 |
| USD	INDONESIA, REPUBLIC OF 4.45000% 18-11.02.24 | 200 000.00 | 203 272.00 | 0.32 |
| USD	JPMORGAN CHASE & CO 2.70000% 16-18.05.23 | 1 525 000.00 | 1 526 777.57 | 2.37 |
| USD	KAISA GROUP HOLDINGS-REG-S *DEFAULTED* 11.50000% 19-30.01.23 | 1 350 000.00 | 216 000.00 | 0.34 |
| USD	KB HOME 7.62500% 15-15.05.23 | 825 000.00 | 836 814.00 | 1.30 |
| USD	LENNAR CORP 4.87500% 15-15.12.23 | 450 000.00 | 458 073.63 | 0.71 |
| USD	LOGAN PROPERTY HOLDINGS CO LTD-REG-S 5.25000% 17-23.02.23 | 225 000.00 | 52 875.00 | 0.08 |
| USD	MGM RESORTS INTL 6.00000% 14-15.03.23 | 350 000.00 | 353 500.00 | 0.55 |
| USD	NAVIENT CORP 7.25000% 16-25.09.23 | 238 000.00 | 243 374.31 | 0.38 |
| USD	NEW METRO GLOBAL LTD-REG-S 6.80000% 20-05.08.23 | 800 000.00 | 540 664.00 | 0.84 |
| USD	PETROLEOS MEXICANOS 4.87500% 13-18.01.24 | 830 000.00 | 832 075.00 | 1.29 |
| USD	QUALCOMM INC 2.60000% 17-30.01.23 | 306 000.00 | 306 655.05 | 0.48 |
| USD	RANGE RESOURCES CORP 5.00000% 17-15.03.23 | 375 000.00 | 375 468.75 | 0.58 |
| USD	REDSUN PROPERTIES GROUP LTD-REG-S 9.70000% 20-16.04.23 | 675 000.00 | 121 500.00 | 0.19 |
| USD	RKPF OVERSEAS 2019 A LTD-REG-S 7.87500% 19-01.02.23 | 255 000.00 | 220 575.00 | 0.34 |
| USD	RONSHINE CHINA HOLDINGS LTD-REG-S 8.10000% 19-09.06.23 | 675 000.00 | 108 000.00 | 0.17 |
| USD	SEAZEN GROUP LIMITED-REG-S 6.15000% 19-15.04.23 | 575 000.00 | 405 375.00 | 0.63 |
| USD	SERVICE PROPERTIES TRUST 4.65000% 14-15.03.24 | 430 000.00 | 397 536.37 | 0.62 |
| USD	SPRINGLEAF FINANCE CORP 5.62500% 17-15.03.23 | 1 425 000.00 | 1 435 730.25 | 2.23 |
| USD	SPRINT CORP 7.87500% 14-15.09.23 | 1 525 000.00 | 1 597 437.50 | 2.48 |
| USD	TENET HEALTHCARE CORP 6.75000% 15-15.06.23 | 400 000.00 | 407 880.41 | 0.63 |
| USD	TEVA PHARMACEUTICAL FINANCE NL III BV 6.00000% 18-15.04.24 | 410 000.00 | 413 280.00 | 0.64 |
| USD	UNITED AIRLINES HOLDINGS INC 5.00000% 17-01.02.24 | 400 000.00 | 399 888.08 | 0.62 |
| USD	US BANCORP 3.37500% 19-05.02.24 | 1 100 000.00 | 1 107 379.02 | 1.72 |
| USD	YANLORD LAND HK CO LTD-REG-S 6.80000% 19-27.02.24 | 400 000.00 | 380 152.00 | 0.59 |
| USD	YUM BRANDS INC 3.87500% 13-01.11.23 | 900 000.00 | 902 250.00 | 1.40 |
| Total USD |  | 34 977 693.87 | 54.26 |
| Total des Billets, taux fixe |  | 34 977 693.87 | 54.26 |
| Billets, taux variable |  |  |  |
| USD |  |  |  |
| USD	BK OF AMERICA CORP 3.004%/VAR 18-20.12.23 | 1 400 000.00 | 1 399 641.01 | 2.17 |
| USD	CITIGROUP INC 2.876%/VAR 17-24.07.23 | 1 550 000.00 | 1 550 390.81 | 2.40 |
| USD	LLOYDS BANKING GROUP PLC 2.907%/3M LIBOR+81BP 17-07.11.23 | 1 575 000.00 | 1 573 358.00 | 2.44 |
| USD	WYNDHAM WORLDWIDE CORP STEP UP/RATING LINKED 17-01.04.24 | 400 000.00 | 403 240.00 | 0.63 |
| Total USD |  | 4 926 629.82 | 7.64 |
| Total des Billets, taux variable |  | 4 926 629.82 | 7.64 |
| Medium-Term Notes, taux fixe |  |  |  |
| USD |  |  |  |
| USD	BANK OF CHINA/HONG KONG-REG-S 3.12500% 19-17.04.24 | 200 000.00 | 200 316.00 | 0.31 |
| USD	BANKOK BANK PCL HONG KONG-REG-S 4.05000% 18-19.03.24 | 200 000.00 | 202 600.00 | 0.31 |
| USD	BOC AVIATION LTD-REG-S 4.00000% 19-25.01.24 | 1 375 000.00 | 1 383 411.70 | 2.15 |
| USD	BOCOM LEASING MGT HONG KONG-REG-S 4.37500% 19-22.01.24 | 200 000.00 | 202 600.00 | 0.31 |
| USD	GREENLAND GLOBAL INVESTMENT LTD-REG-S 6.75000% 19-26.09.23 | 550 000.00 | 156 750.00 | 0.24 |
| USD	ICBCIL FINANCE CO LTD-REG-S 3.75000% 19-05.03.24 | 200 000.00 | 200 560.80 | 0.31 |
| USD	INDONESIA EXIMBANK-REG-S 3.87500% 17-06.04.24 | 225 000.00 | 224 550.00 | 0.35 |
| USD	KASIKORNBANK PCL/HONG KONG-REG-S 3.25600% 18-12.07.23 | 200 000.00 | 200 600.00 | 0.31 |
| USD	KWG GROUP HOLDINGS LTD-REG-S 7.40000% 19-05.03.24 | 875 000.00 | 245 000.00 | 0.38 |
| USD	MONGOLIA,GOVERNMENT OF-REG-S 8.75000% 17-09.03.24 | 660 000.00 | 676 623.76 | 1.05 |
| USD	MORGAN STANLEY-SUB 4.10000% 13-22.05.23 | 1 525 000.00 | 1 544 760.29 | 2.40 |
| USD	NAVIENT CORP 6.12500% 14-25.03.24 | 500 000.00 | 499 206.56 | 0.78 |
| USD	RHB BANK BHD-REG-S 3.76600% 19-19.02.24 | 200 000.00 | 201 537.50 | 0.31 |
| USD	SIAM COMMERCIAL BK CAYMAN ISLAND-REG-S 3.90000% 19-11.02.24 | 200 000.00 | 201 975.00 | 0.31 |
| USD	WELLS FARGO & CO 3.75000% 19-24.01.24 | 750 000.00 | 759 748.80 | 1.18 |
| Total USD |  | 6 900 240.41 | 10.70 |
| Total des Medium-Term Notes, taux fixe |  | 6 900 240.41 | 10.70 |

UBS (Lux) Bond SICAV – Fixed Maturity Series 1 (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, taux fixe |  |  |  |
| USD |  |  |  |
| USD	BAIDU INC 3.87500% 18-29.09.23 | 200 000.00 | 201 758.00 | 0.31 |
| USD	BRASKEM FINANCE LTD 6.45000% 14-03.02.24 | 500 000.00 | 521 562.50 | 0.81 |
| USD	CHINA SCE PROPERTY HOLDINGS LTD-REG-S 7.37500% 19-09.04.24 | 225 000.00 | 119 250.00 | 0.19 |
| USD	COMPETITION TEAM TECHNOLOGIES LTD-REG-S 3.75000% 19-12.03.24 | 500 000.00 | 503 843.75 | 0.78 |
| USD	DEVELOPMENT BANK OF MONGOLIA LLC-REG-S 7.25000% 18-23.10.23 | 700 000.00 | 679 350.00 | 1.05 |
| USD	EASY TACTIC LTD-REG-S 8.62500% 19-27.02.24 | 2 050 000.00 | 415 509.38 | 0.65 |
| USD	JABABEKA INTERNATIONAL BV-REG-S 6.50000% 16-05.10.23 | 500 000.00 | 350 000.00 | 0.54 |
| USD	KOREA, REPUBLIC OF 3.87500% 13-11.09.23 | 300 000.00 | 304 556.25 | 0.47 |
| USD	MINERA Y METALURGICA DEL BOLEO-REG-S 3.25000% 19-17.04.24 | 850 000.00 | 848 565.63 | 1.32 |
| USD	SEAGATE HDD CAYMAN 4.87500% 17-01.03.24 | 350 000.00 | 359 744.00 | 0.56 |
| USD	STATE GRID OVERSEAS INV 2013 LTD-REG-S 3.12500% 13-22.05.23 | 200 000.00 | 200 528.00 | 0.31 |
| USD	SUNAC CHINA HOLDINGS LTD-REG-S 7.50000% 19-01.02.24 | 225 000.00 | 36 000.00 | 0.06 |
| USD	YUZHOU PROPERTIES-REG-S*DEFAULTED* 8.50000% 19-26.02.24 | 725 000.00 | 79 750.00 | 0.12 |
| Total USD |  | 4 620 417.51 | 7.17 |
| Total des Obligations, taux fixe |  | 4 620 417.51 | 7.17 |
| Total des Titres et instruments du marché monétaire négociés sur une bourse officielle |  | 51 424 981.61 | 79.77 |
| Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  |  |  |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	ALBERTSONS COS LLC / SAFEWAY INC-144A 3.50000% 20-15.02.23 | 900 000.00 | 895 517.91 | 1.39 |
| USD	CCO HOLDINGS LLC/CAPITAL CORP-144A 4.00000% 17-01.03.23 | 730 000.00 | 726 255.10 | 1.13 |
| USD	FIRST QUANTUM MINERALS LTD-144A 6.50000% 18-01.03.24 | 425 000.00 | 425 398.44 | 0.66 |
| USD	FMG RESOURCES AUGUST 2006 PTY LTD-144A 5.12500% 17-15.05.24 | 600 000.00 | 611 562.00 | 0.95 |
| USD	HANESBRANDS INC-144A 4.62500% 16-15.05.24 | 800 000.00 | 796 000.00 | 1.23 |
| USD	NETFLIX INC 5.75000% 14-01.03.24 | 1 650 000.00 | 1 716 858.00 | 2.66 |
| USD	NEWMARK GROUP INC 6.12500% 19-15.11.23 | 350 000.00 | 353 062.50 | 0.55 |
| USD	NORDEA BANK ABP-144A 3.75000% 18-30.08.23 | 1 700 000.00 | 1 713 707.13 | 2.66 |
| USD	OWENS-BROCKWAY GLASS CONTAINER INC-144A 5.87500% 15-15.08.23 | 878 000.00 | 886 780.00 | 1.38 |
| USD	PRICOA GLOBAL FUNDING I-144A 2.45000% 17-21.09.22 | 509 000.00 | 509 423.58 | 0.79 |
| USD	PRIME SEC SER BORROWER LLC/FIN INC-144A 5.25000% 19-15.04.24 | 350 000.00 | 349 562.50 | 0.54 |
| USD	QVC INC 4.85000% 14-01.04.24 | 350 000.00 | 341 250.00 | 0.53 |
| USD	REALOGY GROUP/CO ISSUER-144A 4.87500% 16-01.06.23 | 350 000.00 | 347 504.50 | 0.54 |
| USD	ROYAL CARIBBEAN CRUISES LTD-144A 9.12500% 20-15.06.23 | 375 000.00 | 382 500.00 | 0.59 |
| USD	SENSATA TECHNOLOGIES BV-144A 4.87500% 13-15.10.23 | 355 000.00 | 355 885.85 | 0.55 |
| USD	TAYLOR MOR/MOR HOLDINGS II INC-144A 5.62500% 14-01.03.24 | 350 000.00 | 353 020.54 | 0.55 |
| Total USD |  | 10 764 288.05 | 16.70 |
| Total des Billets, taux fixe |  | 10 764 288.05 | 16.70 |
| Billets, taux variable |  |  |  |
| USD |  |  |  |
| USD	ELANCO ANIMAL HEALTH INC STEP-UP/RTG LKD 19-27.08.23 | 355 000.00 | 362 100.00 | 0.56 |
| Total USD |  | 362 100.00 | 0.56 |
| Total des Billets, taux variable |  | 362 100.00 | 0.56 |
| Total des Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  | 11 126 388.05 | 17.26 |

Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé
Billets, taux fixe
| USD |  |
| --- | --- |
| USD | NORDSTROM INC 2.30000% 21-08.04.24 | 435 000.00 | 417 600.00 | 0.65 |
| USD | VICI PROPERTIES LP /VCI NTE CO INC-144A 5.62500% 22-01.05.24 | 500 000.00 | 505 500.00 | 0.78 |
| Total USD |  |  | 923 100.00 | 1.43 |
| Total des Billets, taux fixe | 923 100.00 | 1.43 |
| Total des Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé | 923 100.00 | 1.43 |
| Total du Portefeuille-titres | 63 474 469.66 | 98.46 |
|  |  |  |
| Avoirs en banque, dépôts à vue et à terme et autres liquidités | 733 266.12 | 1.14 |
| Autres actifs et passifs | 261 881.33 | 0.40 |
| Total de l’Actif net | 64 469 617.11 | 100.00 |

UBS (Lux) Bond SICAV – Fixed Maturity Series 1 (USD) Rapport annuel et états financiers révisés au 31 mai 2022