# UBS (Lux) Institutional Fund
– Equities Europe (ex UK ex Switzerland) Passive II
| Most important figures |  |
| --- | --- |
|  | ISIN | 31.12.2021 | 31.12.2020 |
| Net assets in CHF |  | 2 664 326 684.17 | 806 063 551.65 |
| Class FA 1 | LU2250202996 |  |  |
| Units outstanding |  | 15 624.4390 | - |
| Net asset value per unit in CHF |  | 116 415.09 | - |
| Issue and redemption price per unit in CHF 2 |  | 116 415.09 | - |
| Tracking error (%)* |  | 0.5150 | - |
| Class XA 3 | LU2108968301 |  |  |
| Units outstanding |  | 566 870.5620 | 642 209.0160 |
| Net asset value per unit in CHF |  | 1 491.36 | 1 255.14 |
| Issue and redemption price per unit in CHF 2 |  | 1 491.36 | 1 255.14 |
| Tracking error (%)* |  | 0.5328 | 0.0054 |

* The subfund’s portfolio manager shall endeavour, under normal market conditions, to keep the tracking error (the divergence between the yield of the subfund and that of the tracked index) below 1%. However, this may exceed 1% in exceptional circumstances.
1 
First NAV: 14.1.2021
2 
See note 1
3 
First NAV: 14.5.2020
UBS (Lux) Institutional Fund – Equities Europe (ex UK ex Switzerland) Passive II Annual report and audited financial statements as of 31 December 2021

## Report of the Portfolio Manager
During the financial year, from 1 January 2021 to 31 December 2021, European equities performed posi- tively. Despite the ongoing pandemic, 2021 was a posi- tive year for most global markets, including European markets, with investors focusing on economic and earnings fundamentals over worries about the COVID-
19 pandemic. Equity performance was supported by a strong rebound in economic growth and continued accommodative fiscal and monetary policies despite inflation rising to multi-decade highs. More recently, in Q3 and Q4, inflation pressures were a key topic of discussion for the European Central Bank’s Governing Council. An improving outlook for inflation put the ECB in a more hawkish mood, asset purchases will be wound down quicker in 2022 than previously thought. More- over, widespread restrictions are returning across the continent as the fourth COVID-19 wave hits the region.
In the financial year, the subfund posted a positive performance. This is a passive subfund which aims to replicate the performance of an index and no active decisions are applied. The performance of the subfund reflects the performance of the benchmark.

## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
| France | 27.59 |
| --- | --- |
| Germany | 21.54 |
| The Netherlands | 13.26 |
| Sweden | 9.17 |
| Denmark | 6.64 |
| Spain | 5.57 |
| Italy | 5.06 |
| Finland | 3.08 |
| Belgium | 1.95 |
| Ireland | 1.69 |
| Norway | 1.62 |
| United Kingdom | 0.70 |
| Luxembourg | 0.70 |
| Austria | 0.58 |
| Portugal | 0.38 |
| Poland | 0.04 |
| Total | 99.57 |

Economic Breakdown as a % of net assets	
| Pharmaceuticals, cosmetics & medical products | 10.11 |
| --- | --- |
| Banks & credit institutions | 9.12 |
| Electronics & semiconductors | 6.83 |
| Internet, software & IT services | 5.83 |
| Textiles, garments & leather goods | 5.47 |
| Energy & water supply | 5.39 |
| Telecommunications | 5.05 |
| Chemicals | 4.98 |
| Mechanical engineering & industrial equipment | 4.55 |
| Vehicles | 4.40 |
| Insurance | 4.23 |
| Petroleum | 4.15 |
| Finance & holding companies | 3.83 |
| Traffic & transportation | 2.84 |
| Building industry & materials | 2.81 |
| Tobacco & alcohol | 2.56 |
| Retail trade, department stores | 2.48 |
| Electrical devices & components | 2.25 |
| Various capital goods | 1.88 |
| Aerospace industry | 1.53 |
| Food & soft drinks | 1.41 |
| Real Estate | 1.33 |
| Miscellaneous services | 1.17 |
| Biotechnology | 0.87 |
| Forestry, paper & pulp products | 0.79 |
| Graphic design, publishing & media | 0.75 |
| Miscellaneous consumer goods | 0.65 |
| Mining, coal & steel | 0.63 |
| Rubber & tyres | 0.55 |
| Lodging, catering & leisure | 0.28 |
| Miscellaneous unclassified companies | 0.28 |
| Agriculture & fishery | 0.27 |
| Non-ferrous metals | 0.12 |
| Environmental services & recycling | 0.11 |
| Healthcare & social services | 0.07 |
| Total | 99.57 |

UBS (Lux) Institutional Fund – Equities Europe (ex UK ex Switzerland) Passive II Annual report and audited financial statements as of 31 December 2021
| Statement of Net Assets | CHF |
| --- | --- |
| Assets | 31.12.2021 |
| Investments in securities, cost | 2 302 262 042.51 |
| Investments in securities, unrealized appreciation (depreciation) | 	350 670 810.61	 |
| Total investments in securities (Note 1) | 2 652 932 853.12 |
| Cash at banks, deposits on demand and deposit accounts | 9 760 335.04 |
| Other liquid assets (Margins) | 487 995.93 |
| Receivable on securities sales (Note 1) | 3 120.79 |
| Receivable on subscriptions | 9 827 082.59 |
| Receivable on dividends | 54 188.47 |
| Other receivables | 290 862.05 |
| Unrealized gain on financial futures (Note 1) | 244 435.27 |
| Total Assets | 2 673 600 873.26 |
|  |  |
| Liabilities |  |
| Payable on securities purchases (Note 1) | -3 151 524.65 |
| Payable on redemptions | -6 006 559.16 |
| Provisions for other commissions and fees (Note 2) | 	-116 105.28	 |
| Total provisions | -116 105.28 |
| Total Liabilities | -9 274 189.09 |
|  |  |
| Net assets at the end of the financial year | 2 664 326 684.17 |
| Statement of Operations | CHF |
| Income | 1.1.2021-31.12.2021 |
| Dividends | 54 787 426.45 |
| Other income (Note 2, 4) | 545 318.37 |
| Total income | 55 332 744.82 |
|  |  |
| Expenses |  |
| Other commissions and fees (Note 2) | -120 953.23 |
| Interest on cash and bank overdraft | -67 571.99 |
| Total expenses | -188 525.22 |
|  |  |
| Net income (loss) on investments | 55 144 219.60 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | 39 750 538.96 |
| Realized gain (loss) on financial futures | 1 563 184.54 |
| Realized gain (loss) on forward foreign exchange contracts | -1 763.25 |
| Realized gain (loss) on foreign exchange | -472 235.39 |
| Total realized gain (loss) | 40 839 724.86 |
|  |  |
| Net realized gain (loss) of the financial year | 95 983 944.46 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | 320 026 234.61 |
| Unrealized appreciation (depreciation) on financial futures | 239 854.88 |
| Total changes in unrealized appreciation (depreciation) | 320 266 089.49 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | 416 250 033.95 |

UBS (Lux) Institutional Fund – Equities Europe (ex UK ex Switzerland) Passive II Annual report and audited financial statements as of 31 December 2021
| Statement of Changes in Net Assets |  |
| --- | --- |
|  | CHF |
|  | 1.1.2021-31.12.2021 |
| Net assets at the beginning of the financial year | 806 063 551.65 |
| Subscriptions | 1 917 371 053.27 |
| Redemptions | 	-475 357 954.70	 |
| Total net subscriptions (redemptions) | 1 442 013 098.57 |
| Net income (loss) on investments | 55 144 219.60 |
| Total realized gain (loss) | 40 839 724.86 |
| Total changes in unrealized appreciation (depreciation) | 	320 266 089.49	 |
| Net increase (decrease) in net assets as a result of operations | 416 250 033.95 |
| Net assets at the end of the financial year | 2 664 326 684.17 |
| Development of the outstanding units |  |
|  | 1.1.2021-31.12.2021 |
| Class | FA |
| Number of units outstanding at the beginning of the financial year | 0.0000 |
| Number of units issued | 18 233.9390 |
| Number of units redeemed | -2 609.5000 |
| Number of units outstanding at the end of the financial year | 15 624.4390 |
| Class | XA |
| Number of units outstanding at the beginning of the financial year | 642 209.0160 |
| Number of units issued | 54 130.7460 |
| Number of units redeemed | -129 469.2000 |
| Number of units outstanding at the end of the financial year | 566 870.5620 |

UBS (Lux) Institutional Fund – Equities Europe (ex UK ex Switzerland) Passive II Annual report and audited financial statements as of 31 December 2021

## Statement of Investments in Securities and other Net Assets as of 31 December 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 |  |  |  |
| Equities |  |  |  |
| Austria |  |  |  |
| EUR	ERSTE GROUP BK AG NPV | 143 310.00 | 6 140 146.60 | 0.23 |
| EUR	OMV AG NPV(VAR) | 59 938.00 | 3 102 161.98 | 0.12 |
| EUR	RAIFFEISEN BK INTL NPV (REGD) | 57 645.00 | 1 545 797.66 | 0.06 |
| EUR	VERBUND AG CLASS’A’NPV | 28 246.00 | 2 894 542.81 | 0.11 |
| EUR	VOESTALPINE AG NPV | 49 997.00 | 1 657 756.18 | 0.06 |
| Total Austria |  | 15 340 405.23 | 0.58 |
| Belgium |  |  |  |
| EUR	AGEAS NPV | 69 019.00 | 3 257 495.13 | 0.12 |
| EUR	ANHEUSER-BUSCH IN NPV | 320 103.00 | 17 635 311.50 | 0.66 |
| EUR	COLRUYT SA NPV | 21 014.00 | 811 294.08 | 0.03 |
| EUR	ELIA SYS OPERATOR NPV | 13 957.00 | 1 673 216.61 | 0.06 |
| EUR	GPE BRUXELLES LAM NPV | 46 592.00 | 4 738 846.42 | 0.18 |
| EUR	KBC GROUP NV NPV | 105 221.00 | 8 227 084.47 | 0.31 |
| EUR	PROXIMUS SA NPV | 63 963.00 | 1 135 968.72 | 0.04 |
| EUR	SOFINA NPV | 6 281.00 | 2 811 507.66 | 0.10 |
| EUR	SOLVAY SA NPV | 29 905.00 | 3 166 805.81 | 0.12 |
| EUR	UCB NPV | 52 838.00 | 5 494 023.06 | 0.21 |
| EUR	UMICORE NPV | 83 962.00 | 3 110 180.20 | 0.12 |
| Total Belgium |  | 52 061 733.66 | 1.95 |
| Denmark |  |  |  |
| DKK	A.P. MOELLER-MAERSK SER’B’DKK1000 | 2 413.00 | 7 883 075.74 | 0.30 |
| DKK	A.P. MOLLER-MAERSK ‘A’DKK1000 | 1 332.00 | 4 041 640.03 | 0.15 |
| DKK	AMBU A/S SER’B’DKK0.5 | 68 233.00 | 1 644 508.41 | 0.06 |
| DKK	CARLSBERG SER’B’DKK20 | 41 283.00 | 6 496 104.68 | 0.24 |
| DKK	CHR. HANSEN HLDG DKK10 | 41 758.00 | 2 998 331.41 | 0.11 |
| DKK	COLOPLAST DKK1 B | 48 738.00 | 7 815 172.30 | 0.29 |
| DKK	DANSKE BANK A/S DKK10 | 294 648.00 | 4 636 446.61 | 0.17 |
| DKK	DEMANT A/S DKK0.20 | 43 634.00 | 2 037 018.56 | 0.08 |
| DKK	DSV PANALPINA A/S DKK1 | 84 204.00 | 17 918 822.67 | 0.67 |
| DKK	GENMAB AS DKK1 (BEARER) | 27 311.00 | 10 006 653.94 | 0.38 |
| DKK	GN STORE NORD DKK4 | 53 772.00 | 3 081 132.89 | 0.12 |
| DKK	NOVO-NORDISK AS DKK0.2 SER’B’ | 697 788.00 | 71 450 679.88 | 2.68 |
| DKK	NOVOZYMES A/S SER’B’DKK2 (POST CONS) | 86 606.00 | 6 481 559.54 | 0.24 |
| DKK	ORSTED A/S DKK10 | 79 313.00 | 9 228 484.62 | 0.35 |
| DKK	PANDORA A/S DKK1 | 42 477.00 | 4 825 252.82 | 0.18 |
| DKK	ROCKWOOL INTL SER’B’DKK10 | 3 689.00 | 1 469 840.53 | 0.05 |
| DKK	TRYG A/S DKK5 | 146 764.00 | 3 302 080.04 | 0.13 |
| DKK	VESTAS WIND SYSTEM DKK0.20 (POST SPLIT) | 419 982.00 | 11 701 895.17 | 0.44 |
| Total Denmark |  | 177 018 699.84 | 6.64 |
| Finland |  |  |  |
| EUR	ELISA OYJ NPV | 60 900.00 | 3 415 087.31 | 0.13 |
| EUR	FORTUM OYJ EUR3.40 | 185 088.00 | 5 176 162.21 | 0.19 |
| EUR	KESKO OYJ EUR2 SER’B’ | 115 192.00 | 3 501 943.69 | 0.13 |
| EUR	KONE CORPORATION NPV ORD ‘B’ | 138 998.00 | 9 079 281.60 | 0.34 |
| EUR	NESTE OIL OYJ NPV | 176 722.00 | 7 939 746.23 | 0.30 |
| EUR	NOKIA OYJ NPV | 2 215 334.00 | 12 794 782.51 | 0.48 |
| SEK	NORDEA HOLDING ABP NPV | 1 348 803.00 | 14 999 175.47 | 0.56 |
| EUR	ORION CORP SER’B’NPV | 41 061.00 | 1 553 771.04 | 0.06 |
| EUR	SAMPO PLC SER’A’NPV | 207 085.00 | 9 454 092.90 | 0.35 |
| EUR	STORA ENSO OYJ NPV SER’R’ | 248 504.00 | 4 155 886.18 | 0.16 |
| EUR	UPM-KYMMENE CORP NPV | 220 947.00 | 7 660 211.77 | 0.29 |
| EUR	WARTSILA OYJ ABP SER’B’EUR3.50 | 184 323.00 | 2 360 612.66 | 0.09 |
| Total Finland |  | 82 090 753.57 | 3.08 |
| France |  |  |  |
| EUR	ACCOR EUR3 | 67 706.00 | 1 995 887.96 | 0.08 |
| EUR	ADP EUR3 | 13 499.00 | 1 584 740.79 | 0.06 |
| EUR	AIR LIQUIDE(L’) EUR5.5 (POST-SUBDIVISION) | 195 465.00 | 31 052 355.18 | 1.17 |
| EUR	AIRBUS EUR1 | 245 195.00 | 28 546 316.13 | 1.07 |
| EUR	ALSTOM EUR7.00 | 126 084.00 | 4 078 679.76 | 0.15 |
| EUR	AMUNDI EUR2.5 (AIW) | 25 565.00 | 1 921 807.77 | 0.07 |
| EUR	ARKEMA EUR10 | 26 438.00 | 3 392 745.94 | 0.13 |
| EUR	AXA EUR2.29 | 798 888.00 | 21 675 304.46 | 0.81 |
| EUR	BIOMERIEUX NPV (POST SPLIT) | 16 751.00 | 2 167 853.39 | 0.08 |
| EUR	BNP PARIBAS EUR2 | 467 776.00 | 29 454 652.46 | 1.11 |
| EUR	BOLLORE EUR0.16 | 363 235.00 | 1 851 737.93 | 0.07 |
| EUR	BOUYGUES EUR1 | 91 762.00 | 2 994 072.15 | 0.11 |
| EUR	BUREAU VERITAS EUR0.12 | 121 858.00 | 3 684 393.98 | 0.14 |
| EUR	CAPGEMINI EUR8 | 66 850.00 | 14 927 099.12 | 0.56 |
| EUR	CARREFOUR EUR2.50 | 254 417.00 | 4 245 546.36 | 0.16 |
| EUR	CIE DE ST-GOBAIN EUR4 | 211 729.00 | 13 573 354.53 | 0.51 |
| EUR	CNP ASSURANCES EUR1 | 69 267.00 | 1 561 034.03 | 0.06 |
| EUR	COVIVIO EUR3 | 21 616.00 | 1 617 108.87 | 0.06 |
| EUR	CREDIT AGRICOLE SA EUR3 | 508 936.00 | 6 618 104.62 | 0.25 |
| EUR	DANONE EUR0.25 | 272 657.00 | 15 422 560.29 | 0.58 |
| EUR	DASSAULT AVIATION EUR0.80 (POST SUBDIVISION) | 10 900.00 | 1 072 943.45 | 0.04 |
| EUR	DASSAULT SYSTEMES EUR0.10 | 274 649.00 | 14 886 392.74 | 0.56 |
| EUR	EDENRED EUR2 | 102 871.00 | 4 324 388.46 | 0.16 |
| EUR	EDF EUR0.5 | 206 425.00 | 2 209 476.29 | 0.08 |
| EUR	EIFFAGE EUR4 | 35 946.00 | 3 369 255.02 | 0.13 |
| EUR	ENGIE EUR1 | 753 472.00 | 10 160 256.01 | 0.38 |
| EUR	ESSILORLUXOTTICA EUR0.18 | 119 044.00 | 23 095 792.77 | 0.87 |
| EUR	EURAZEO NPV | 18 706.00 | 1 488 568.69 | 0.06 |

UBS (Lux) Institutional Fund – Equities Europe (ex UK ex Switzerland) Passive II Annual report and audited financial statements as of 31 December 2021
|  | Description | Quantity/ | Valuation in CHF | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| EUR | FAURECIA EUR7 | 50 085.00 | 2 170 812.30 | 0.08 |
| EUR | GECINA EUR7.50 | 20 119.00 | 2 562 034.68 | 0.09 |
| EUR | GETLINK SE EUR0.40 | 189 338.00 | 2 856 445.16 | 0.11 |
| EUR | HERMES INTL NPV | 13 094.00 | 20 839 643.38 | 0.78 |
| EUR | IPSEN EUR1 | 14 714.00 | 1 227 307.43 | 0.05 |
| EUR | KERING EUR4 | 31 059.00 | 22 749 517.02 | 0.85 |
| EUR | KLEPIERRE EUR1.40 | 90 263.00 | 1 950 035.66 | 0.07 |
| EUR | LA FRANCAISE DES EUR0.40 (PROMESSES) | 39 313.00 | 1 586 203.35 | 0.06 |
| EUR | LEGRAND SA EUR4 | 111 389.00 | 11 876 388.90 | 0.45 |
| EUR | L’OREAL EUR0.20 | 104 286.00 | 45 054 348.98 | 1.69 |
| EUR | LVMH MOET HENNESSY EUR0.30 | 115 118.00 | 86 717 026.42 | 3.25 |
| EUR | MICHELIN (CGDE) EUR2 | 69 131.00 | 10 325 574.31 | 0.39 |
| EUR | ORANGE EUR4 | 816 078.00 | 7 959 512.32 | 0.30 |
| EUR | ORPEA EUR2.5 | 21 699.00 | 1 980 807.90 | 0.07 |
| EUR | PERNOD RICARD EUR1.55 | 86 562.00 | 18 969 871.30 | 0.71 |
| EUR | PUBLICIS GROUPE SA EUR0.40 | 94 665.00 | 5 806 813.48 | 0.22 |
| EUR | REMY COINTREAU EUR1.60 | 10 031.00 | 2 224 255.81 | 0.08 |
| EUR | RENAULT SA EUR3.81 | 76 451.00 | 2 419 635.97 | 0.09 |
| EUR | SAFRAN EUR0.20 | 141 398.00 | 15 773 365.71 | 0.59 |
| EUR | SANOFI EUR2 | 471 797.00 | 43 302 959.77 | 1.63 |
| EUR | SARTORIUS STEDIM B EUR0.20 (POST SUBD) | 11 438.00 | 5 717 209.70 | 0.21 |
| EUR | SCHNEIDER ELECTRIC EUR8 | 223 432.00 | 39 926 430.52 | 1.50 |
| EUR | SEB SA EUR1 | 11 945.00 | 1 694 401.52 | 0.06 |
| EUR | SOC GENERALE EUR1.25 | 339 428.00 | 10 623 148.09 | 0.40 |
| EUR | SODEXO EUR4 | 35 844.00 | 2 862 016.97 | 0.11 |
| EUR | SUEZ EUR4 | 145 330.00 | 2 983 090.85 | 0.11 |
| EUR | TELEPERFORMANCE EUR2.50 | 24 346.00 | 9 888 727.63 | 0.37 |
| EUR | THALES EUR3 | 43 864.00 | 3 399 668.42 | 0.13 |
| EUR | TOTALENERGIES SE EUR2.5 | 1 041 700.00 | 48 172 177.90 | 1.81 |
| EUR | UBISOFT ENTERTAIN EUR0.31 | 37 521.00 | 1 674 464.74 | 0.06 |
| EUR | UNIBAIL-RODAMCO-WE NPV(1 ORD UNIBAIL-R & 1CLS) | 52 241.00 | 3 335 492.02 | 0.13 |
| EUR | VALEO EUR1 (POST SUBD) | 96 299.00 | 2 652 182.98 | 0.10 |
| EUR | VEOLIA ENVIRONNEME EUR5 | 271 951.00 | 9 090 374.05 | 0.34 |
| EUR | VINCI EUR2.50 | 224 065.00 | 21 570 649.08 | 0.81 |
| EUR | VIVENDI SA EUR5.50 | 322 105.00 | 3 968 314.20 | 0.15 |
| EUR | WENDEL EUR4 | 10 859.00 | 1 185 924.86 | 0.04 |
| EUR | WORLDLINE EUR0.68 | 97 630.00 | 4 957 865.29 | 0.19 |
| Total France | 735 027 127.82 | 27.59 |
| Germany |  |  |  |  |
| EUR | ADIDAS AG NPV (REGD) | 79 167.00 | 20 769 910.24 | 0.78 |
| EUR | ALLIANZ SE NPV(REGD)(VINKULIERT) | 171 412.00 | 36 880 762.23 | 1.39 |
| EUR | BASF SE NPV | 382 087.00 | 24 458 898.58 | 0.92 |
| EUR | BAYER AG NPV (REGD) | 410 884.00 | 20 009 849.33 | 0.75 |
| EUR | BAYERISCHE MOTOREN WERKE AG EUR1 | 138 201.00 | 12 671 619.14 | 0.48 |
| EUR | BAYERISCHE MOTORENWERKE AG EUR1 | 25 230.00 | 1 916 231.41 | 0.07 |
| EUR | BECHTLE AG NPV | 32 583.00 | 2 124 929.56 | 0.08 |
| EUR | BEIERSDORF AG NPV | 41 803.00 | 3 914 772.40 | 0.15 |
| EUR | BRENNTAG AG | 65 481.00 | 5 399 405.80 | 0.20 |
| EUR | CARL ZEISS MEDITEC NPV | 17 045.00 | 3 264 699.34 | 0.12 |
| EUR | COMMERZBANK AG NPV | 435 041.00 | 3 015 213.82 | 0.11 |
| EUR | CONTINENTAL AG ORD NPV | 44 468.00 | 4 290 131.99 | 0.16 |
| EUR | COVESTRO AG NPV | 78 674.00 | 4 418 320.83 | 0.17 |
| EUR | DAIMLER AG ORD NPV(REGD) | 352 845.00 | 24 711 160.68 | 0.93 |
| EUR | DAIMLER TRUCK HOLD NPV (YOUNG SHARE) | 176 480.00 | 5 904 597.12 | 0.22 |
| EUR | DELIVERY HERO SE NPV | 67 902.00 | 6 895 017.50 | 0.26 |
| EUR | DEUTSCHE BANK AG NPV(REGD) | 862 679.00 | 9 848 695.83 | 0.37 |
| EUR | DEUTSCHE BOERSE AG NPV(REGD) | 79 102.00 | 12 056 655.94 | 0.45 |
| EUR | DEUTSCHE LUFTHANSA ORD NPV (REGD)(VINK) | 263 472.00 | 1 687 134.37 | 0.06 |
| EUR | DEUTSCHE POST AG NPV(REGD) | 411 138.00 | 24 086 303.46 | 0.90 |
| EUR | DEUTSCHE TELEKOM NPV(REGD) | 1 390 593.00 | 23 486 287.55 | 0.88 |
| EUR | E.ON SE NPV | 939 605.00 | 11 869 898.46 | 0.44 |
| EUR | EVONIK INDUSTRIES NPV | 88 319.00 | 2 605 363.60 | 0.10 |
| EUR | FRESENIUS MED CARE NPV | 85 654.00 | 5 071 245.27 | 0.19 |
| EUR | FRESENIUS SE & CO. KGAA NPV | 173 710.00 | 6 371 692.57 | 0.24 |
| EUR | FUCHS PETROLUB SE PRF NPV (REG) | 33 636.00 | 1 391 302.63 | 0.05 |
| EUR | GEA GROUP AG NPV | 64 582.00 | 3 218 051.56 | 0.12 |
| EUR | HANNOVER RUECKVERS ORD NPV(REGD) | 25 677.00 | 4 447 105.09 | 0.17 |
| EUR | HEIDELBERGCEMENT NPV | 57 945.00 | 3 573 597.37 | 0.13 |
| EUR | HELLOFRESH SE NPV | 67 171.00 | 4 700 776.48 | 0.18 |
| EUR | HENKEL AG & CO KGAA | 44 285.00 | 3 152 391.27 | 0.12 |
| EUR | HENKEL AG&CO. KGAA NON-VTG PRF NPV | 74 479.00 | 5 490 026.34 | 0.21 |
| EUR | INFINEON TECHNOLOG AG NPV (REGD) | 542 338.00 | 22 905 034.02 | 0.86 |
| EUR | KION GROUP AG NPV | 30 414.00 | 3 040 447.91 | 0.11 |
| EUR | KNORR BREMSE AG NPV | 30 582.00 | 2 753 673.16 | 0.10 |
| EUR | LANXESS AG NPV | 35 848.00 | 2 024 361.94 | 0.08 |
| EUR | LEG IMMOBILIEN SE NPV | 29 865.00 | 3 796 940.68 | 0.14 |
| EUR | MERCK KGAA NPV | 53 644.00 | 12 617 512.44 | 0.47 |
| EUR | MTU AERO ENGINES H NPV (REGD) | 21 876.00 | 4 066 465.42 | 0.15 |
| EUR | MUENCHENER RUECKVE NPV(REGD) | 57 692.00 | 15 572 202.87 | 0.59 |
| EUR | NEMETSCHEK SE ORD NPV | 23 451.00 | 2 740 925.28 | 0.10 |
| EUR | PORSCHE AUTO HL SE NON VTG PRF NPV | 63 856.00 | 5 520 809.18 | 0.21 |
| EUR | PUMA SE NPV | 44 482.00 | 4 954 724.38 | 0.19 |
| EUR | RATIONAL AG NPV | 2 032.00 | 1 895 771.20 | 0.07 |
| EUR | RWE AG (NEU) NPV | 268 482.00 | 9 936 955.73 | 0.37 |
| EUR | SAP AG ORD NPV | 434 180.00 | 56 189 993.68 | 2.11 |
| EUR | SARTORIUS AG NON VTG PRF NPV | 10 749.00 | 6 629 148.01 | 0.25 |
| EUR | SCOUT24 AG NPV | 37 479.00 | 2 385 198.55 | 0.09 |
| EUR | SIEMENS AG NPV(REGD) | 316 526.00 | 50 074 690.23 | 1.88 |
| EUR | SIEMENS ENERGY AG NPV | 166 478.00 | 3 879 475.70 | 0.15 |
| EUR | SIEMENS HEALTHINEE NPV | 116 651.00 | 7 955 602.48 | 0.30 |
| EUR | SYMRISE AG NPV (BR) | 52 806.00 | 7 129 423.57 | 0.27 |
| EUR | TELEFONICA DEUTSCH NPV | 420 407.00 | 1 063 321.14 | 0.04 |
| EUR | UNIPER SE NPV | 39 488.00 | 1 710 283.68 | 0.06 |
| EUR | UNITED INTERNET AG NPV(REGD) | 38 537.00 | 1 395 171.30 | 0.05 |
| EUR | VOLKSWAGEN AG NON VTG PRF NPV | 77 326.00 | 14 220 068.74 | 0.53 |

UBS (Lux) Institutional Fund – Equities Europe (ex UK ex Switzerland) Passive II Annual report and audited financial statements as of 31 December 2021
|  | Description | Quantity/ | Valuation in CHF | as a % |
| --- | --- | --- | --- | --- |
|  |  | Nominal | Unrealized gain | of net |
|  |  |  | (loss) on Futures/ | assets |
|  |  |  | Forward |  |
|  |  |  | Exchange Contracts/ |  |
|  |  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| EUR | VOLKSWAGEN AG ORD NPV | 13 596.00 | 3 640 243.17 | 0.14 |
| EUR | VONOVIA SE NPV | 303 710.00 | 15 262 566.21 | 0.57 |
| EUR | ZALANDO SE NPV | 93 419.00 | 6 886 139.33 | 0.26 |
| Total Germany	573 949 197.76	21.54 |
| Ireland |  |  |  |  |
| EUR | CRH ORD EUR0.32 | 280 433.00 | 13 517 474.36 | 0.51 |
| GBP | CRH ORD EUR0.32 | 39 501.00 | 1 901 190.14 | 0.07 |
| EUR | FLUTTER ENTERTAINM ORD EUR0.09 | 68 972.00 | 9 933 775.72 | 0.37 |
| EUR | KERRY GROUP ‘A’ORD EUR0.125(DUBLIN LIST) | 65 145.00 | 7 644 446.22 | 0.29 |
| EUR | KINGSPAN GROUP ORD EUR0.13(DUBLIN LISTING) | 64 354.00 | 7 001 507.78 | 0.26 |
| EUR | SMURFIT KAPPA GRP ORD EUR0.001 | 102 365.00 | 5 137 861.06 | 0.19 |
| Total Ireland	45 136 255.28	1.69 |
| Italy |  |  |  |  |
| EUR | AMPLIFON EUR0.02 | 54 062.00 | 2 658 000.48 | 0.10 |
| EUR | ASSIC GENERALI SPA EUR1 | 463 708.00 | 8 951 260.04 | 0.34 |
| EUR | ATLANTIA SPA EUR1 | 208 250.00 | 3 766 444.69 | 0.14 |
| EUR | DAVIDE CAMPARI MIL EUR0.01 | 216 054.00 | 2 877 803.41 | 0.11 |
| EUR | DIASORIN SPA EUR1 | 11 340.00 | 1 967 546.19 | 0.07 |
| EUR | ENEL EUR1 | 3 374 669.00 | 24 637 722.05 | 0.93 |
| EUR | ENI SPA EUR1 | 1 046 660.00 | 13 252 675.48 | 0.50 |
| EUR | FERRARI NV EUR0.01(NEW) | 52 855.00 | 12 459 316.23 | 0.47 |
| EUR | FINECOBANK SPA EUR0.33 | 257 381.00 | 4 116 326.82 | 0.15 |
| EUR | INFRASTRUTTURE WIR NPV | 141 870.00 | 1 569 959.87 | 0.06 |
| EUR | INTESA SANPAOLO NPV | 6 801 986.00 | 16 027 025.37 | 0.60 |
| EUR | MEDIOBANCA SPA EUR0.5 | 265 233.00 | 2 778 468.28 | 0.10 |
| EUR | MONCLER SPA NPV | 82 410.00 | 5 466 663.16 | 0.21 |
| EUR | NEXI SPA NPV | 186 571.00 | 2 704 509.95 | 0.10 |
| EUR | POSTE ITALIANE SPA NPV | 206 613.00 | 2 470 530.29 | 0.09 |
| EUR | PRYSMIAN SPA EUR0.10 | 104 265.00 | 3 577 045.45 | 0.13 |
| EUR | RECORDATI EUR0.125 | 42 174.00 | 2 468 993.64 | 0.09 |
| EUR | SNAM EUR1 | 865 275.00 | 4 751 784.71 | 0.18 |
| EUR | TELECOM ITALIA SPA EUR0.55 | 4 109 885.00 | 1 849 039.63 | 0.07 |
| EUR | TERNA SPA ORD EUR0.22 | 585 770.00 | 4 317 851.65 | 0.16 |
| EUR | UNICREDIT SPA NPV (POST REV SPLIT) | 870 280.00 | 12 213 290.26 | 0.46 |
| Total Italy |  | 134 882 257.65 | 5.06 |
| Luxembourg |  |  |  |
| EUR	ARCELORMITTAL NPV(POST STOCK SPLIT) | 281 128.00 | 8 198 456.31 | 0.31 |
| EUR	AROUNDTOWN SA EUR0.01 | 436 174.00 | 2 404 352.49 | 0.09 |
| EUR	EUROFINS SCIENTIFI EUR0.01 | 54 387.00 | 6 131 274.07 | 0.23 |
| EUR	TENARIS S.A. USD1 | 4 731.00 | 45 148.08 | 0.01 |
| EUR	TENARIS S.A. USD1 | 180 747.00 | 1 737 984.12 | 0.06 |
| Total Luxembourg |  | 18 517 215.07 | 0.70 |
| The Netherlands |  |  |  |
| EUR	ABN AMRO BANK N.V. DR EACH REP SHS | 167 373.00 | 2 239 959.51 | 0.09 |
| EUR	ADYEN NV EUR0.01 | 8 255.00 | 19 771 412.90 | 0.74 |
| EUR	AEGON NV EUR0.12 | 748 286.00 | 3 406 085.57 | 0.13 |
| EUR	AKZO NOBEL NV EUR0.50(POST REV SPLIT) | 77 282.00 | 7 727 382.26 | 0.29 |
| EUR	ARGEN X NV EUR0.10 | 19 230.00 | 6 282 463.67 | 0.23 |
| EUR	ASM INTL NV EUR0.04 | 19 734.00 | 7 947 973.22 | 0.30 |
| EUR	ASML HOLDING NV EUR0.09 | 171 649.00 | 125 690 686.86 | 4.72 |
| EUR	CNH INDUSTRIAL NV COM EUR0.01 | 421 946.00 | 7 463 063.31 | 0.28 |
| EUR	EURONEXT EUR1.60 | 32 682.00 | 3 090 069.37 | 0.12 |
| EUR	EXOR NV EUR0.01 | 44 900.00 | 3 673 501.41 | 0.14 |
| EUR	HEINEKEN HOLDING EUR1.6 | 47 009.00 | 3 952 721.97 | 0.15 |
| EUR	HEINEKEN NV EUR1.60 | 109 073.00 | 11 172 866.13 | 0.42 |
| EUR	IMCD NV EUR0.16 | 23 585.00 | 4 758 045.19 | 0.18 |
| EUR	ING GROEP N.V. EUR0.01 | 1 639 480.00 | 20 796 259.54 | 0.78 |
| EUR	JDE PEETS N.V. EUR0.01 | 33 357.00 | 936 662.23 | 0.03 |
| EUR	JUST EAT TAKEAWAY EUR0.04 | 74 650.00 | 3 749 121.91 | 0.14 |
| EUR	KON KPN NV EUR0.04 | 1 410 996.00 | 3 991 307.24 | 0.15 |
| EUR	KONINKLIJKE AHOLD EUR0.01 | 434 596.00 | 13 570 118.84 | 0.51 |
| EUR	KONINKLIJKE DSM NV EUR1.5 | 72 607.00 | 14 896 025.72 | 0.56 |
| EUR	KONINKLIJKE PHILIPS NV EUR0.20 | 377 606.00 | 12 819 638.81 | 0.48 |
| EUR	NN GROUP N.V. EUR0.12 | 113 513.00 | 5 599 774.18 | 0.21 |
| EUR	PROSUS N.V. EUR0.05 | 387 740.00 | 29 541 456.41 | 1.11 |
| EUR	QIAGEN NV EUR0.01 | 94 207.00 | 4 782 085.58 | 0.18 |
| EUR	RANDSTAD N.V. EUR0.10 | 51 299.00 | 3 191 363.79 | 0.12 |
| EUR	STMICROELECTRONICS EUR1.04 | 281 638.00 | 12 656 318.76 | 0.47 |
| EUR	UNIVERSAL MUSIC GR EUR10.00 | 299 898.00 | 7 700 192.85 | 0.29 |
| EUR	WOLTERS KLUWER EUR0.12 | 110 027.00 | 11 810 975.20 | 0.44 |
| Total The Netherlands |  | 353 217 532.43 | 13.26 |
| Norway |  |  |  |
| NOK	ADEVINTA ASA SER’B’NOK0.2 | 123 610.00 | 1 498 154.59 | 0.06 |
| NOK	AKER BP ASA NOK1 | 51 891.00 | 1 456 219.41 | 0.06 |
| NOK	DNB BANK ASA NOK12.50 | 388 634.00 | 8 111 425.28 | 0.30 |
| NOK	EQUINOR ASA NOK2.50 | 403 061.00 | 9 824 347.80 | 0.37 |
| NOK	GJENSIDIGE FORSIKR NOK2 | 81 059.00 | 1 792 338.46 | 0.07 |
| NOK	MOWI ASA NOK7.50 | 186 326.00 | 4 017 916.62 | 0.15 |
| NOK	NORSK HYDRO ASA NOK3.6666 | 570 750.00 | 4 099 781.33 | 0.15 |
| NOK	ORKLA ASA NOK1.25 | 284 045.00 | 2 593 270.78 | 0.10 |
| NOK	SCHIBSTED ASA SER’A’NOK0.50 | 29 018.00 | 1 019 715.73 | 0.04 |
| NOK	SCHIBSTED ASA SER’B’NOK0.5 | 41 452.00 | 1 272 058.10 | 0.05 |
| NOK	TELENOR ASA ORD NOK6 | 300 187.00 | 4 298 927.50 | 0.16 |
| NOK	YARA INTERNATIONAL NOK1.7 | 67 933.00 | 3 123 530.96 | 0.11 |
| Total Norway |  | 43 107 686.56 | 1.62 |
| Poland |  |  |  |
| EUR	INPOST S.A. EUR0.01 | 86 594.00 | 950 907.88 | 0.04 |
| Total Poland |  | 950 907.88 | 0.04 |

UBS (Lux) Institutional Fund – Equities Europe (ex UK ex Switzerland) Passive II Annual report and audited financial statements as of 31 December 2021
|  | Description | Quantity/ | Valuation in CHF | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Portugal |  |  |  |  |
| EUR | EDP ENERGIAS PORTU EUR1(REGD) | 1 167 141.00 | 5 843 552.92 | 0.22 |
| EUR | GALP ENERGIA EUR1-B | 200 683.00 | 1 771 645.84 | 0.07 |
| EUR | JERONIMO MARTINS EUR5 | 116 746.00 | 2 431 446.94 | 0.09 |
| Total Portugal	10 046 645.70	0.38 |
| Spain |  |  |  |  |
| EUR | ACS ACTIVIDADES CO EUR0.5 | 98 656.00 | 2 409 405.05 | 0.09 |
| EUR | AENA SME S.A. EUR10 | 30 836.00 | 4 434 801.99 | 0.17 |
| EUR | AMADEUS IT GROUP EUR0.01 | 188 951.00 | 11 676 523.56 | 0.44 |
| EUR | BANCO SANTANDER SA EUR0.50(REGD) | 7 126 536.00 | 21 713 328.24 | 0.82 |
| EUR | BBVA(BILB-VIZ-ARG) EUR0.49 | 2 757 036.00 | 14 997 831.53 | 0.56 |
| EUR | CAIXABANK SA EUR1 | 1 839 967.00 | 4 602 290.52 | 0.17 |
| EUR | CELLNEX TELECOM SA EUR0.25 | 211 133.00 | 11 196 521.82 | 0.42 |
| EUR | EDP RENOVAVEIS SA EUR5 | 124 167.00 | 2 817 585.05 | 0.10 |
| EUR | ENAGAS SA EUR1.50 | 97 751.00 | 2 066 227.36 | 0.08 |
| EUR | ENDESA SA EUR1.2 | 124 198.00 | 2 599 517.24 | 0.10 |
| EUR | FERROVIAL SA EUR0.2 | 199 243.00 | 5 689 695.39 | 0.21 |
| EUR | GRIFOLS SA EUR0.25 (CLASS A) POST SUBD | 122 904.00 | 2 149 000.56 | 0.08 |
| EUR | IBERDROLA SA EUR0.75 (POST SUBDIVISION) | 2 368 168.00 | 25 544 062.52 | 0.96 |
| EUR | INDITEX EUR0.03 (POST SUBD) | 457 489.00 | 13 524 124.45 | 0.51 |
| EUR | NATURGY ENERGY GRO EUR1 | 69 744.00 | 2 068 973.51 | 0.08 |
| EUR | RED ELECTRICA CORP EUR0.5 | 179 985.00 | 3 548 033.48 | 0.13 |
| EUR | REPSOL SA EUR1 | 618 026.00 | 6 682 939.77 | 0.25 |
| EUR | SIEMENS GAMESA REN EUR0.17 | 96 877.00 | 2 115 007.67 | 0.08 |
| EUR | TELEFONICA SA EUR1 | 2 138 741.00 | 8 536 330.16 | 0.32 |
| Total Spain	148 372 199.87 | 5.57 |
| Sweden |  |  |  |  |
| SEK | ALFA LAVAL AB NPV | 131 000.00 | 4 804 035.95 | 0.18 |
| SEK | ASSA ABLOY SER’B’NPV (POST SPLIT) | 419 308.00 | 11 655 030.31 | 0.44 |
| SEK | ATLAS COPCO AB SER’A’NPV (POST SPLIT) | 278 455.00 | 17 536 671.38 | 0.66 |
| SEK | ATLAS COPCO AB SER’B’NPV (POST SPLIT) | 164 088.00 | 8 788 368.85 | 0.33 |
| SEK | BOLIDEN AB NPV (POST SPLIT) | 109 161.00 | 3 844 962.73 | 0.14 |
| SEK | ELECTROLUX AB SER’B’NPV (POST SPLIT) | 98 509.00 | 2 176 040.73 | 0.08 |
| SEK | EMBRACER GROUP AB SER’B’NPV (POST SPLIT) | 222 797.00 | 2 163 905.24 | 0.08 |
| SEK | EPIROC AB SER’A’NPV (POST SPLIT) | 272 648.00 | 6 288 882.99 | 0.24 |
| SEK | EPIROC AB SER’B’NPV | 167 174.00 | 3 225 131.53 | 0.12 |
| SEK | EQT AB NPV | 124 091.00 | 6 156 640.40 | 0.23 |
| SEK | ERICSSON SER’B’ NPV | 1 215 386.00 | 12 205 563.56 | 0.46 |
| SEK | ESSITY AB SER’B’NPV | 252 013.00 | 7 491 866.32 | 0.28 |
| SEK | EVOLUTION AB NPV | 70 771.00 | 9 160 526.22 | 0.34 |
| SEK | FASTIGHETS AB BALD SER’B’NPV | 42 100.00 | 2 761 550.80 | 0.10 |
| SEK | GETINGE AB SER’B’NPV | 95 285.00 | 3 788 681.98 | 0.14 |
| SEK | HENNES & MAURITZ SER’B’NPV | 299 482.00 | 5 367 134.22 | 0.20 |
| SEK | HEXAGON AB SER’B’NPV (POST SPLIT) | 820 880.00 | 11 867 025.88 | 0.45 |
| SEK | HUSQVARNA AB SER’B’NPV | 178 883.00 | 2 607 619.10 | 0.10 |
| SEK | INDUSTRIVARDEN AB SER’A’NPV | 58 137.00 | 1 687 347.21 | 0.06 |
| SEK | INDUSTRIVARDEN AB SER’C’NPV | 59 964.00 | 1 714 424.69 | 0.06 |
| SEK | INVESTOR AB SER’A’NPV (POST SPLIT) | 205 661.00 | 4 938 317.03 | 0.19 |
| SEK | INVESTOR AB SER’B’NPV (POST SPLIT) | 763 041.00 | 17 488 914.09 | 0.66 |
| SEK | KINNEVIK AB SER’B’NPV (POST SPLIT) | 102 021.00 | 3 313 694.08 | 0.12 |
| SEK | LATOUR INVESTMENT SER’B’NPV (POST SPLIT) | 57 438.00 | 2 131 223.67 | 0.08 |
| SEK | LIFCO AB SER’B’NPV (POST SPLIT) | 96 706.00 | 2 634 500.35 | 0.10 |
| SEK | LUNDBERGFORETAGEN SER’B’NPV | 33 048.00 | 1 689 528.33 | 0.06 |
| SEK | LUNDIN ENERGY AB NPV | 79 620.00 | 2 600 120.40 | 0.10 |
| SEK | NIBE INDUSTRIER AB SER’B’NPV (POST SPLIT) | 582 743.00 | 8 019 752.86 | 0.30 |
| SEK | SAGAX AB NPV B | 59 619.00 | 1 829 957.95 | 0.07 |
| SEK | SANDVIK AB NPV (POST SPLIT) | 470 758.00 | 11 967 064.72 | 0.45 |
| SEK | SECURITAS SER’B’NPV | 121 461.00 | 1 523 651.77 | 0.06 |
| SEK | SINCH AB NPV (POST SPLIT) | 214 920.00 | 2 489 480.56 | 0.09 |
| SEK | SKAND ENSKILDA BKN SER’A’NPV | 684 177.00 | 8 665 193.69 | 0.32 |
| SEK | SKANSKA AB SER’B’NPV | 142 788.00 | 3 365 388.34 | 0.13 |
| SEK | SKF AB SER’B’NPV | 159 033.00 | 3 432 978.89 | 0.13 |
| SEK | SVENSKA CELLULOSA SER’B’NPV | 255 180.00 | 4 128 137.93 | 0.16 |
| SEK | SVENSKA HANDELSBKN SER’A’NPV (P/S) | 606 500.00 | 5 973 001.19 | 0.22 |
| SEK | SWEDBANK AB SER’A’NPV | 372 125.00 | 6 819 544.66 | 0.26 |
| SEK | SWEDISH MATCH NPV (POST SPLIT) | 662 295.00 | 4 800 220.40 | 0.18 |
| SEK | TELE2 AB SHS | 218 608.00 | 2 840 199.70 | 0.11 |
| SEK | TELIA COMPANY AB NPV | 1 132 715.00 | 4 035 913.36 | 0.15 |
| SEK | VOLVO AB SER’A’NPV (POST SPLIT) | 86 385.00 | 1 848 239.22 | 0.07 |
| SEK | VOLVO AB SER’B’NPV (POST SPLIT) | 597 423.00 | 12 604 725.42 | 0.47 |
| Total Sweden |  | 244 431 158.70 | 9.17 |
| United Kingdom |  |  |  |
| EUR	COCA-COLA EUROPACI COM EUR0.01 | 12 404.00 | 630 801.97 | 0.02 |
| USD	COCA-COLA EUROPACI COM EUR0.01 | 72 799.00 | 3 709 882.14 | 0.14 |
| EUR	STELLANTIS N V COM EUR0.01 | 835 334.00 | 14 442 391.99 | 0.54 |
| Total United Kingdom |  | 18 783 076.10 | 0.70 |
| Total Equities |  | 2 652 932 853.12 | 99.57 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 2 652 932 853.12 | 99.57 |
| Total investments in securities |  | 2 652 932 853.12 | 99.57 |

UBS (Lux) Institutional Fund – Equities Europe (ex UK ex Switzerland) Passive II Annual report and audited financial statements as of 31 December 2021
| Description	Quantity/ | Valuation in CHF | as a % |
| --- | --- | --- |
| Nominal | Unrealized gain | of net |
|  | (loss) on Futures/ | assets |
|  | Forward |  |
|  | Exchange Contracts/ |  |
|  | Swaps (Note 1) |  |
| Derivative instruments |  |  |  |
| Derivative instruments listed on an official stock exchange |  |  |  |
| Financial Futures on Indices |  |  |  |
|  |  |  |  |
| EUR	EURO STOXX 50 INDEX FUTURE 18.03.22 | 217.00 | 244 435.27 | 0.01 |
| Total Financial Futures on Indices |  | 244 435.27 | 0.01 |
| Total Derivative instruments listed on an official stock exchange |  | 244 435.27 | 0.01 |
| Total Derivative instruments |  | 244 435.27 | 0.01 |
|  |  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets |  | 10 248 330.97 | 0.39 |
| Other assets and liabilities |  | 901 064.81 | 0.03 |
| Total net assets |  | 2 664 326 684.17 | 100.00 |

UBS (Lux) Institutional Fund – Equities Europe (ex UK ex Switzerland) Passive II Annual report and audited financial statements as of 31 December 2021

Translation (ENFR, 2021-12-31):
# UBS (Lux) Institutional Fund
– Equities Europe (ex UK ex Switzerland) Passive II
| Données principales |  |
| --- | --- |
|  | ISIN | 31.12.2021 | 31.12.2020 |
| Actifs nets en CHF |  | 2 664 326 684.17 | 806 063 551.65 |
| Catégorie FA 1 | LU2250202996 |  |  |
| Parts en circulation |  | 15 624.4390 | - |
| Valeur nette d’inventaire par part en CHF |  | 116 415.09 | - |
| Prix d’émission et de rachat par part en CHF 2 |  | 116 415.09 | - |
| Écart de suivi (%)* |  | 0.5150 | - |
| Catégorie XA 3 | LU2108968301 |  |  |
| Parts en circulation |  | 566 870.5620 | 642 209.0160 |
| Valeur nette d’inventaire par part en CHF |  | 1 491.36 | 1 255.14 |
| Prix d’émission et de rachat par part en CHF 2 |  | 1 491.36 | 1 255.14 |
| Écart de suivi (%)* |  | 0.5328 | 0.0054 |

* Le gestionnaire de portefeuille du compartiment s’efforcera, dans des conditions de marché normales, de maintenir l’écart de suivi (l’écart entre le rendement du compartiment et celui de l’indice suivi) en dessous de 1%. Dans des circonstances exceptionnelles, celui-ci pourra cependant dépasser 1%.
1 
Première VNI 14.1.2021
2 
Voir note 1
3 
Première VNI 14.5.2020
UBS (Lux) Institutional Fund – Equities Europe (ex UK ex Switzerland) Passive II Rapport annuel et états financiers révisés au 31 décembre 2021

## Rapport du Gestionnaire de portefeuille
Au cours de l’exercice allant du 1
er 
janvier 2021 au 31 décembre 2021, les actions européennes se sont bien comportées. Malgré la pandémie en cours, 2021 a été une année positive pour la plupart des marchés mondi- aux, y compris les marchés européens, les investisseurs se concentrant sur les fondamentaux économiques et les bénéfices plutôt que sur les inquiétudes liées à la pan- démie de COVID-19. La performance des actions a été soutenue par un fort rebond de la croissance économique et la poursuite de politiques budgétaires et monétaires accommodantes malgré une inflation atteignant des sommets sur plusieurs décennies. Plus récemment, aux troisième et quatrième trimestres, les pressions inflation- nistes ont été au cœur des discussions du Conseil des gouverneurs de la Banque centrale européenne. Compte tenu de l’amélioration des perspectives d’inflation, la BCE est désormais plus favorable à une hausse des taux, d’où une liquidation plus rapide que prévu des achats d’actifs en 2022. De plus, des restrictions généralisées touchent à nouveau l’ensemble du continent alors que la quatrième vague de COVID-19 frappe la région.
Au cours de l’exercice, le compartiment a affiché une performance positive. Il s’agit d’un compartiment pas- sif qui entend répliquer la performance d’un indice, et aucune décision active n’intervient. La performance de ce compartiment reflète celle de l’indice de référence.
UBS (Lux) Institutional Fund – Equities Europe (ex UK ex Switzerland) Passive II Rapport annuel et états financiers révisés au 31 décembre 2021

## Structure du portefeuille-titres
Répartition géographique en % des actifs nets	
| France | 27.59 |
| --- | --- |
| Allemagne | 21.54 |
| Pays-Bas | 13.26 |
| Suède | 9.17 |
| Danemark | 6.64 |
| Espagne | 5.57 |
| Italie | 5.06 |
| Finlande | 3.08 |
| Belgique | 1.95 |
| Irlande | 1.69 |
| Norvège | 1.62 |
| Royaume-Uni | 0.70 |
| Luxembourg | 0.70 |
| Autriche | 0.58 |
| Portugal | 0.38 |
| Pologne | 0.04 |
| Total | 99.57 |

Répartition économique en % des actifs nets	
| Produits pharmaceutiques, cosmétiques et médicaux | 10.11 |
| --- | --- |
| Banques et établissements de crédit | 9.12 |
| Electronique et semi-conducteurs | 6.83 |
| Internet, logiciels et services informatiques | 5.83 |
| Textiles, vêtements et maroquinerie | 5.47 |
| Approvisionnement en énergie et en eau | 5.39 |
| Télécommunications | 5.05 |
| Produits chimiques | 4.98 |
| Ingénierie mécanique et équipements industriels | 4.55 |
| Véhicules | 4.40 |
| Assurances | 4.23 |
| Pétrole | 4.15 |
| Sociétés financières et holdings | 3.83 |
| Trafic et transport | 2.84 |
| Construction et matériaux | 2.81 |
| Tabac et alcool | 2.56 |
| Commerce de détail, grands magasins | 2.48 |
| Appareils et composants électriques | 2.25 |
| Divers biens d’équipement | 1.88 |
| Aérospatiale | 1.53 |
| Aliments et boissons non alcoolisées | 1.41 |
| Immobilier | 1.33 |
| Services divers | 1.17 |
| Biotechnologie | 0.87 |
| Sylviculture; bois et papier | 0.79 |
| Conception graphique, édition et médias | 0.75 |
| Biens de consommation divers | 0.65 |
| Mines, charbon et acier | 0.63 |
| Pneus et caoutchouc | 0.55 |
| Hébergement, restauration et loisirs | 0.28 |
| Diverses sociétés non classées | 0.28 |
| Agriculture et pêche | 0.27 |
| Métaux non ferreux | 0.12 |
| Environnement et recyclage | 0.11 |
| Soins de santé et services sociaux | 0.07 |
| Total | 99.57 |

| Etat des actifs nets | CHF |
| --- | --- |
| Actifs | 31.12.2021 |
| Investissements en titres, coûts | 2 302 262 042.51 |
| Investissements en titres, plus-/(moins-)values non réalisées | 	350 670 810.61	 |
| Total des investissements en titres (note 1) | 2 652 932 853.12 |
| Avoirs en banque, dépôts à vue et comptes de dépôt | 9 760 335.04 |
| Autres liquidités (Marges) | 487 995.93 |
| Créances sur ventes de titres (note 1) | 3 120.79 |
| Créances sur souscriptions | 9 827 082.59 |
| Créances sur dividendes | 54 188.47 |
| Autres créances | 290 862.05 |
| Bénéfice non réalisé sur contrats financiers à terme (note 1) | 244 435.27 |
| Total des actifs | 2 673 600 873.26 |
|  |  |
| Passifs |  |
| Montants à payer sur achats de titres (note 1) | -3 151 524.65 |
| Montants à payer sur rachats | -6 006 559.16 |
| Provisions pour autres commissions et frais (note 2) | 	-116 105.28	 |
| Total des provisions | -116 105.28 |
| Total des passifs | -9 274 189.09 |
|  |  |
| Actifs nets en fin d’exercice | 2 664 326 684.17 |
| Etat des opérations | CHF |
| Revenus | 1.1.2021-31.12.2021 |
| Dividendes | 54 787 426.45 |
| Autres revenus (note 2, 4) | 545 318.37 |
| Total des revenus | 55 332 744.82 |
|  |  |
| Dépenses |  |
| Autres commissions et frais (note 2) | -120 953.23 |
| Intérêts sur liquidités et découvert bancaire | -67 571.99 |
| Total des dépenses | -188 525.22 |
|  |  |
| Revenu/(perte) net(te) des investissements | 55 144 219.60 |
|  |  |
| Bénéfice/(perte) réalisé(e) (note 1) |  |
| Bénéfice/(perte) réalisé(e) sur titres évalués à la valeur de marché hors options | 39 750 538.96 |
| Bénéfice/(perte) réalisé(e) sur contrats financiers à terme | 1 563 184.54 |
| Bénéfice/(perte) réalisé(e) sur contrats de change à terme | -1 763.25 |
| Bénéfice/(perte) de change réalisé(e) | -472 235.39 |
| Total des bénéfices/(pertes) réalisé(e)s | 40 839 724.86 |
|  |  |
| Bénéfice/(perte) net(te) réalisé(e) au cours de l’exercice | 95 983 944.46 |
|  |  |
| 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 | 320 026 234.61 |
| Plus-/(moins-)value non réalisée sur contrats financiers à terme | 239 854.88 |
| Total des fluctuations de la plus-/(moins-)value non réalisée | 320 266 089.49 |
|  |  |
| Augmentation/(diminution) nette des actifs nets résultant des opérations | 416 250 033.95 |

UBS (Lux) Institutional Fund – Equities Europe (ex UK ex Switzerland) Passive II Rapport annuel et états financiers révisés au 31 décembre 2021
| Etat des variations des actifs nets |  |
| --- | --- |
|  | CHF |
|  | 1.1.2021-31.12.2021 |
| Actifs nets au début de l’exercice | 806 063 551.65 |
| Souscriptions | 1 917 371 053.27 |
| Rachats | 	-475 357 954.70	 |
| Total des souscriptions nettes (rachats) | 1 442 013 098.57 |
| Revenu/(perte) net(te) des investissements | 55 144 219.60 |
| Total des bénéfices/(pertes) réalisé(e)s | 40 839 724.86 |
| Total des fluctuations de la plus-/(moins-)value non réalisée | 	320 266 089.49	 |
| Augmentation/(diminution) nette des actifs nets résultant des opérations | 416 250 033.95 |
| Actifs nets en fin d’exercice | 2 664 326 684.17 |
| Evolution des parts en circulation |  |
|  | 1.1.2021-31.12.2021 |
| Catégorie | FA |
| Nombre de parts en circulation au début de l’exercice | 0.0000 |
| Nombre de parts émises | 18 233.9390 |
| Nombre de parts rachetées | -2 609.5000 |
| Nombre de parts en circulation à la fin de l’exercice | 15 624.4390 |
| Catégorie | XA |
| Nombre de parts en circulation au début de l’exercice | 642 209.0160 |
| Nombre de parts émises | 54 130.7460 |
| Nombre de parts rachetées | -129 469.2000 |
| Nombre de parts en circulation à la fin de l’exercice | 566 870.5620 |

UBS (Lux) Institutional Fund – Equities Europe (ex UK ex Switzerland) Passive II Rapport annuel et états financiers révisés au 31 décembre 2021

## Etat du portefeuille-titres et autres actifs nets au 31 décembre 2021
| Dénomination | Quantité/ | Evaluation en CHF | en % |
| --- | --- | --- | --- |
|  | Nominal | Plus- (Moins-) value non- | des |
|  |  | réalisée sur Futures/ | actifs |
|  |  | Contrats de | nets |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |

Valeurs mobilières et instruments du marché monétaire admis à la cote officielle d’une bourse de valeurs
Actions
| Autriche |  |
| --- | --- |
| EUR | ERSTE GROUP BK AG NPV | 143 310.00 | 6 140 146.60 | 0.23 |
| EUR | OMV AG NPV(VAR) | 59 938.00 | 3 102 161.98 | 0.12 |
| EUR | RAIFFEISEN BK INTL NPV (REGD) | 57 645.00 | 1 545 797.66 | 0.06 |
| EUR | VERBUND AG CLASS’A’NPV | 28 246.00 | 2 894 542.81 | 0.11 |
| EUR | VOESTALPINE AG NPV | 49 997.00 | 1 657 756.18 | 0.06 |
| Total Autriche	15 340 405.23	0.58 |
| Belgique |  |  |  |  |
| EUR | AGEAS NPV | 69 019.00 | 3 257 495.13 | 0.12 |
| EUR | ANHEUSER-BUSCH IN NPV | 320 103.00 | 17 635 311.50 | 0.66 |
| EUR | COLRUYT SA NPV | 21 014.00 | 811 294.08 | 0.03 |
| EUR | ELIA SYS OPERATOR NPV | 13 957.00 | 1 673 216.61 | 0.06 |
| EUR | GPE BRUXELLES LAM NPV | 46 592.00 | 4 738 846.42 | 0.18 |
| EUR | KBC GROUP NV NPV | 105 221.00 | 8 227 084.47 | 0.31 |
| EUR | PROXIMUS SA NPV | 63 963.00 | 1 135 968.72 | 0.04 |
| EUR | SOFINA NPV | 6 281.00 | 2 811 507.66 | 0.10 |
| EUR | SOLVAY SA NPV | 29 905.00 | 3 166 805.81 | 0.12 |
| EUR | UCB NPV | 52 838.00 | 5 494 023.06 | 0.21 |
| EUR | UMICORE NPV | 83 962.00 | 3 110 180.20 | 0.12 |
| Total Belgique |  | 52 061 733.66 | 1.95 |
| Danemark |  |  |  |
| DKK	A.P. MOELLER-MAERSK SER’B’DKK1000 | 2 413.00 | 7 883 075.74 | 0.30 |
| DKK	A.P. MOLLER-MAERSK ‘A’DKK1000 | 1 332.00 | 4 041 640.03 | 0.15 |
| DKK	AMBU A/S SER’B’DKK0.5 | 68 233.00 | 1 644 508.41 | 0.06 |
| DKK	CARLSBERG SER’B’DKK20 | 41 283.00 | 6 496 104.68 | 0.24 |
| DKK	CHR. HANSEN HLDG DKK10 | 41 758.00 | 2 998 331.41 | 0.11 |
| DKK	COLOPLAST DKK1 B | 48 738.00 | 7 815 172.30 | 0.29 |
| DKK	DANSKE BANK A/S DKK10 | 294 648.00 | 4 636 446.61 | 0.17 |
| DKK	DEMANT A/S DKK0.20 | 43 634.00 | 2 037 018.56 | 0.08 |
| DKK	DSV PANALPINA A/S DKK1 | 84 204.00 | 17 918 822.67 | 0.67 |
| DKK	GENMAB AS DKK1 (BEARER) | 27 311.00 | 10 006 653.94 | 0.38 |
| DKK	GN STORE NORD DKK4 | 53 772.00 | 3 081 132.89 | 0.12 |
| DKK	NOVO-NORDISK AS DKK0.2 SER’B’ | 697 788.00 | 71 450 679.88 | 2.68 |
| DKK	NOVOZYMES A/S SER’B’DKK2 (POST CONS) | 86 606.00 | 6 481 559.54 | 0.24 |
| DKK	ORSTED A/S DKK10 | 79 313.00 | 9 228 484.62 | 0.35 |
| DKK	PANDORA A/S DKK1 | 42 477.00 | 4 825 252.82 | 0.18 |
| DKK	ROCKWOOL INTL SER’B’DKK10 | 3 689.00 | 1 469 840.53 | 0.05 |
| DKK	TRYG A/S DKK5 | 146 764.00 | 3 302 080.04 | 0.13 |
| DKK	VESTAS WIND SYSTEM DKK0.20 (POST SPLIT) | 419 982.00 | 11 701 895.17 | 0.44 |
| Total Danemark |  | 177 018 699.84 | 6.64 |
| Finlande |  |  |  |
| EUR	ELISA OYJ NPV | 60 900.00 | 3 415 087.31 | 0.13 |
| EUR	FORTUM OYJ EUR3.40 | 185 088.00 | 5 176 162.21 | 0.19 |
| EUR	KESKO OYJ EUR2 SER’B’ | 115 192.00 | 3 501 943.69 | 0.13 |
| EUR	KONE CORPORATION NPV ORD ‘B’ | 138 998.00 | 9 079 281.60 | 0.34 |
| EUR	NESTE OIL OYJ NPV | 176 722.00 | 7 939 746.23 | 0.30 |
| EUR	NOKIA OYJ NPV | 2 215 334.00 | 12 794 782.51 | 0.48 |
| SEK	NORDEA HOLDING ABP NPV | 1 348 803.00 | 14 999 175.47 | 0.56 |
| EUR	ORION CORP SER’B’NPV | 41 061.00 | 1 553 771.04 | 0.06 |
| EUR	SAMPO PLC SER’A’NPV | 207 085.00 | 9 454 092.90 | 0.35 |
| EUR	STORA ENSO OYJ NPV SER’R’ | 248 504.00 | 4 155 886.18 | 0.16 |
| EUR	UPM-KYMMENE CORP NPV | 220 947.00 | 7 660 211.77 | 0.29 |
| EUR	WARTSILA OYJ ABP SER’B’EUR3.50 | 184 323.00 | 2 360 612.66 | 0.09 |
| Total Finlande |  | 82 090 753.57 | 3.08 |
| France |  |  |  |
| EUR	ACCOR EUR3 | 67 706.00 | 1 995 887.96 | 0.08 |
| EUR	ADP EUR3 | 13 499.00 | 1 584 740.79 | 0.06 |
| EUR	AIR LIQUIDE(L’) EUR5.5 (POST-SUBDIVISION) | 195 465.00 | 31 052 355.18 | 1.17 |
| EUR	AIRBUS EUR1 | 245 195.00 | 28 546 316.13 | 1.07 |
| EUR	ALSTOM EUR7.00 | 126 084.00 | 4 078 679.76 | 0.15 |
| EUR	AMUNDI EUR2.5 (AIW) | 25 565.00 | 1 921 807.77 | 0.07 |
| EUR	ARKEMA EUR10 | 26 438.00 | 3 392 745.94 | 0.13 |
| EUR	AXA EUR2.29 | 798 888.00 | 21 675 304.46 | 0.81 |
| EUR	BIOMERIEUX NPV (POST SPLIT) | 16 751.00 | 2 167 853.39 | 0.08 |
| EUR	BNP PARIBAS EUR2 | 467 776.00 | 29 454 652.46 | 1.11 |
| EUR	BOLLORE EUR0.16 | 363 235.00 | 1 851 737.93 | 0.07 |
| EUR	BOUYGUES EUR1 | 91 762.00 | 2 994 072.15 | 0.11 |
| EUR	BUREAU VERITAS EUR0.12 | 121 858.00 | 3 684 393.98 | 0.14 |
| EUR	CAPGEMINI EUR8 | 66 850.00 | 14 927 099.12 | 0.56 |
| EUR	CARREFOUR EUR2.50 | 254 417.00 | 4 245 546.36 | 0.16 |
| EUR	CIE DE ST-GOBAIN EUR4 | 211 729.00 | 13 573 354.53 | 0.51 |
| EUR	CNP ASSURANCES EUR1 | 69 267.00 | 1 561 034.03 | 0.06 |
| EUR	COVIVIO EUR3 | 21 616.00 | 1 617 108.87 | 0.06 |
| EUR	CREDIT AGRICOLE SA EUR3 | 508 936.00 | 6 618 104.62 | 0.25 |
| EUR	DANONE EUR0.25 | 272 657.00 | 15 422 560.29 | 0.58 |
| EUR	DASSAULT AVIATION EUR0.80 (POST SUBDIVISION) | 10 900.00 | 1 072 943.45 | 0.04 |
| EUR	DASSAULT SYSTEMES EUR0.10 | 274 649.00 | 14 886 392.74 | 0.56 |
| EUR	EDENRED EUR2 | 102 871.00 | 4 324 388.46 | 0.16 |
| EUR	EDF EUR0.5 | 206 425.00 | 2 209 476.29 | 0.08 |
| EUR	EIFFAGE EUR4 | 35 946.00 | 3 369 255.02 | 0.13 |
| EUR	ENGIE EUR1 | 753 472.00 | 10 160 256.01 | 0.38 |
| EUR	ESSILORLUXOTTICA EUR0.18 | 119 044.00 | 23 095 792.77 | 0.87 |
| EUR	EURAZEO NPV | 18 706.00 | 1 488 568.69 | 0.06 |

UBS (Lux) Institutional Fund – Equities Europe (ex UK ex Switzerland) Passive II Rapport annuel et états financiers révisés au 31 décembre 2021
|  | Dénomination | Quantité/ | Evaluation en CHF | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Plus- (Moins-) value non- | des |
|  |  | réalisée sur Futures/ | actifs |
|  |  | Contrats de | nets |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| EUR | FAURECIA EUR7 | 50 085.00 | 2 170 812.30 | 0.08 |
| EUR | GECINA EUR7.50 | 20 119.00 | 2 562 034.68 | 0.09 |
| EUR | GETLINK SE EUR0.40 | 189 338.00 | 2 856 445.16 | 0.11 |
| EUR | HERMES INTL NPV | 13 094.00 | 20 839 643.38 | 0.78 |
| EUR | IPSEN EUR1 | 14 714.00 | 1 227 307.43 | 0.05 |
| EUR | KERING EUR4 | 31 059.00 | 22 749 517.02 | 0.85 |
| EUR | KLEPIERRE EUR1.40 | 90 263.00 | 1 950 035.66 | 0.07 |
| EUR | LA FRANCAISE DES EUR0.40 (PROMESSES) | 39 313.00 | 1 586 203.35 | 0.06 |
| EUR | LEGRAND SA EUR4 | 111 389.00 | 11 876 388.90 | 0.45 |
| EUR | L’OREAL EUR0.20 | 104 286.00 | 45 054 348.98 | 1.69 |
| EUR | LVMH MOET HENNESSY EUR0.30 | 115 118.00 | 86 717 026.42 | 3.25 |
| EUR | MICHELIN (CGDE) EUR2 | 69 131.00 | 10 325 574.31 | 0.39 |
| EUR | ORANGE EUR4 | 816 078.00 | 7 959 512.32 | 0.30 |
| EUR | ORPEA EUR2.5 | 21 699.00 | 1 980 807.90 | 0.07 |
| EUR | PERNOD RICARD EUR1.55 | 86 562.00 | 18 969 871.30 | 0.71 |
| EUR | PUBLICIS GROUPE SA EUR0.40 | 94 665.00 | 5 806 813.48 | 0.22 |
| EUR | REMY COINTREAU EUR1.60 | 10 031.00 | 2 224 255.81 | 0.08 |
| EUR | RENAULT SA EUR3.81 | 76 451.00 | 2 419 635.97 | 0.09 |
| EUR | SAFRAN EUR0.20 | 141 398.00 | 15 773 365.71 | 0.59 |
| EUR | SANOFI EUR2 | 471 797.00 | 43 302 959.77 | 1.63 |
| EUR | SARTORIUS STEDIM B EUR0.20 (POST SUBD) | 11 438.00 | 5 717 209.70 | 0.21 |
| EUR | SCHNEIDER ELECTRIC EUR8 | 223 432.00 | 39 926 430.52 | 1.50 |
| EUR | SEB SA EUR1 | 11 945.00 | 1 694 401.52 | 0.06 |
| EUR | SOC GENERALE EUR1.25 | 339 428.00 | 10 623 148.09 | 0.40 |
| EUR | SODEXO EUR4 | 35 844.00 | 2 862 016.97 | 0.11 |
| EUR | SUEZ EUR4 | 145 330.00 | 2 983 090.85 | 0.11 |
| EUR | TELEPERFORMANCE EUR2.50 | 24 346.00 | 9 888 727.63 | 0.37 |
| EUR | THALES EUR3 | 43 864.00 | 3 399 668.42 | 0.13 |
| EUR | TOTALENERGIES SE EUR2.5 | 1 041 700.00 | 48 172 177.90 | 1.81 |
| EUR | UBISOFT ENTERTAIN EUR0.31 | 37 521.00 | 1 674 464.74 | 0.06 |
| EUR | UNIBAIL-RODAMCO-WE NPV(1 ORD UNIBAIL-R & 1CLS) | 52 241.00 | 3 335 492.02 | 0.13 |
| EUR | VALEO EUR1 (POST SUBD) | 96 299.00 | 2 652 182.98 | 0.10 |
| EUR | VEOLIA ENVIRONNEME EUR5 | 271 951.00 | 9 090 374.05 | 0.34 |
| EUR | VINCI EUR2.50 | 224 065.00 | 21 570 649.08 | 0.81 |
| EUR | VIVENDI SA EUR5.50 | 322 105.00 | 3 968 314.20 | 0.15 |
| EUR | WENDEL EUR4 | 10 859.00 | 1 185 924.86 | 0.04 |
| EUR | WORLDLINE EUR0.68 | 97 630.00 | 4 957 865.29 | 0.19 |
| Total France |  | 735 027 127.82 | 27.59 |
| Allemagne |  |  |  |
| EUR	ADIDAS AG NPV (REGD) | 79 167.00 | 20 769 910.24 | 0.78 |
| EUR	ALLIANZ SE NPV(REGD)(VINKULIERT) | 171 412.00 | 36 880 762.23 | 1.39 |
| EUR	BASF SE NPV | 382 087.00 | 24 458 898.58 | 0.92 |
| EUR	BAYER AG NPV (REGD) | 410 884.00 | 20 009 849.33 | 0.75 |
| EUR	BAYERISCHE MOTOREN WERKE AG EUR1 | 138 201.00 | 12 671 619.14 | 0.48 |
| EUR	BAYERISCHE MOTORENWERKE AG EUR1 | 25 230.00 | 1 916 231.41 | 0.07 |
| EUR	BECHTLE AG NPV | 32 583.00 | 2 124 929.56 | 0.08 |
| EUR	BEIERSDORF AG NPV | 41 803.00 | 3 914 772.40 | 0.15 |
| EUR	BRENNTAG AG | 65 481.00 | 5 399 405.80 | 0.20 |
| EUR	CARL ZEISS MEDITEC NPV | 17 045.00 | 3 264 699.34 | 0.12 |
| EUR	COMMERZBANK AG NPV | 435 041.00 | 3 015 213.82 | 0.11 |
| EUR	CONTINENTAL AG ORD NPV | 44 468.00 | 4 290 131.99 | 0.16 |
| EUR	COVESTRO AG NPV | 78 674.00 | 4 418 320.83 | 0.17 |
| EUR	DAIMLER AG ORD NPV(REGD) | 352 845.00 | 24 711 160.68 | 0.93 |
| EUR	DAIMLER TRUCK HOLD NPV (YOUNG SHARE) | 176 480.00 | 5 904 597.12 | 0.22 |
| EUR	DELIVERY HERO SE NPV | 67 902.00 | 6 895 017.50 | 0.26 |
| EUR	DEUTSCHE BANK AG NPV(REGD) | 862 679.00 | 9 848 695.83 | 0.37 |
| EUR	DEUTSCHE BOERSE AG NPV(REGD) | 79 102.00 | 12 056 655.94 | 0.45 |
| EUR	DEUTSCHE LUFTHANSA ORD NPV (REGD)(VINK) | 263 472.00 | 1 687 134.37 | 0.06 |
| EUR	DEUTSCHE POST AG NPV(REGD) | 411 138.00 | 24 086 303.46 | 0.90 |
| EUR	DEUTSCHE TELEKOM NPV(REGD) | 1 390 593.00 | 23 486 287.55 | 0.88 |
| EUR	E.ON SE NPV | 939 605.00 | 11 869 898.46 | 0.44 |
| EUR	EVONIK INDUSTRIES NPV | 88 319.00 | 2 605 363.60 | 0.10 |
| EUR	FRESENIUS MED CARE NPV | 85 654.00 | 5 071 245.27 | 0.19 |
| EUR	FRESENIUS SE & CO. KGAA NPV | 173 710.00 | 6 371 692.57 | 0.24 |
| EUR	FUCHS PETROLUB SE PRF NPV (REG) | 33 636.00 | 1 391 302.63 | 0.05 |
| EUR	GEA GROUP AG NPV | 64 582.00 | 3 218 051.56 | 0.12 |
| EUR	HANNOVER RUECKVERS ORD NPV(REGD) | 25 677.00 | 4 447 105.09 | 0.17 |
| EUR	HEIDELBERGCEMENT NPV | 57 945.00 | 3 573 597.37 | 0.13 |
| EUR	HELLOFRESH SE NPV | 67 171.00 | 4 700 776.48 | 0.18 |
| EUR	HENKEL AG & CO KGAA | 44 285.00 | 3 152 391.27 | 0.12 |
| EUR	HENKEL AG&CO. KGAA NON-VTG PRF NPV | 74 479.00 | 5 490 026.34 | 0.21 |
| EUR	INFINEON TECHNOLOG AG NPV (REGD) | 542 338.00 | 22 905 034.02 | 0.86 |
| EUR	KION GROUP AG NPV | 30 414.00 | 3 040 447.91 | 0.11 |
| EUR	KNORR BREMSE AG NPV | 30 582.00 | 2 753 673.16 | 0.10 |
| EUR	LANXESS AG NPV | 35 848.00 | 2 024 361.94 | 0.08 |
| EUR	LEG IMMOBILIEN SE NPV | 29 865.00 | 3 796 940.68 | 0.14 |
| EUR	MERCK KGAA NPV | 53 644.00 | 12 617 512.44 | 0.47 |
| EUR	MTU AERO ENGINES H NPV (REGD) | 21 876.00 | 4 066 465.42 | 0.15 |
| EUR	MUENCHENER RUECKVE NPV(REGD) | 57 692.00 | 15 572 202.87 | 0.59 |
| EUR	NEMETSCHEK SE ORD NPV | 23 451.00 | 2 740 925.28 | 0.10 |
| EUR	PORSCHE AUTO HL SE NON VTG PRF NPV | 63 856.00 | 5 520 809.18 | 0.21 |
| EUR	PUMA SE NPV | 44 482.00 | 4 954 724.38 | 0.19 |
| EUR	RATIONAL AG NPV | 2 032.00 | 1 895 771.20 | 0.07 |
| EUR	RWE AG (NEU) NPV | 268 482.00 | 9 936 955.73 | 0.37 |
| EUR	SAP AG ORD NPV | 434 180.00 | 56 189 993.68 | 2.11 |
| EUR	SARTORIUS AG NON VTG PRF NPV | 10 749.00 | 6 629 148.01 | 0.25 |
| EUR	SCOUT24 AG NPV | 37 479.00 | 2 385 198.55 | 0.09 |
| EUR	SIEMENS AG NPV(REGD) | 316 526.00 | 50 074 690.23 | 1.88 |
| EUR	SIEMENS ENERGY AG NPV | 166 478.00 | 3 879 475.70 | 0.15 |
| EUR	SIEMENS HEALTHINEE NPV | 116 651.00 | 7 955 602.48 | 0.30 |
| EUR	SYMRISE AG NPV (BR) | 52 806.00 | 7 129 423.57 | 0.27 |
| EUR	TELEFONICA DEUTSCH NPV | 420 407.00 | 1 063 321.14 | 0.04 |
| EUR	UNIPER SE NPV | 39 488.00 | 1 710 283.68 | 0.06 |
| EUR	UNITED INTERNET AG NPV(REGD) | 38 537.00 | 1 395 171.30 | 0.05 |
| EUR	VOLKSWAGEN AG NON VTG PRF NPV | 77 326.00 | 14 220 068.74 | 0.53 |

UBS (Lux) Institutional Fund – Equities Europe (ex UK ex Switzerland) Passive II Rapport annuel et états financiers révisés au 31 décembre 2021
|  | Dénomination | Quantité/ | Evaluation en CHF | en % |
| --- | --- | --- | --- | --- |
|  |  | Nominal | Plus- (Moins-) value non- | des |
|  |  |  | réalisée sur Futures/ | actifs |
|  |  |  | Contrats de | nets |
|  |  |  | change à terme/ |  |
|  |  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| EUR | VOLKSWAGEN AG ORD NPV | 13 596.00 | 3 640 243.17 | 0.14 |
| EUR | VONOVIA SE NPV | 303 710.00 | 15 262 566.21 | 0.57 |
| EUR | ZALANDO SE NPV | 93 419.00 | 6 886 139.33 | 0.26 |
| Total Allemagne	573 949 197.76	21.54 |
| Irlande |  |  |  |  |
| EUR | CRH ORD EUR0.32 | 280 433.00 | 13 517 474.36 | 0.51 |
| GBP | CRH ORD EUR0.32 | 39 501.00 | 1 901 190.14 | 0.07 |
| EUR | FLUTTER ENTERTAINM ORD EUR0.09 | 68 972.00 | 9 933 775.72 | 0.37 |
| EUR | KERRY GROUP ‘A’ORD EUR0.125(DUBLIN LIST) | 65 145.00 | 7 644 446.22 | 0.29 |
| EUR | KINGSPAN GROUP ORD EUR0.13(DUBLIN LISTING) | 64 354.00 | 7 001 507.78 | 0.26 |
| EUR | SMURFIT KAPPA GRP ORD EUR0.001 | 102 365.00 | 5 137 861.06 | 0.19 |
| Total Irlande	45 136 255.28	1.69 |
| Italie |  |  |  |  |
| EUR | AMPLIFON EUR0.02 | 54 062.00 | 2 658 000.48 | 0.10 |
| EUR | ASSIC GENERALI SPA EUR1 | 463 708.00 | 8 951 260.04 | 0.34 |
| EUR | ATLANTIA SPA EUR1 | 208 250.00 | 3 766 444.69 | 0.14 |
| EUR | DAVIDE CAMPARI MIL EUR0.01 | 216 054.00 | 2 877 803.41 | 0.11 |
| EUR | DIASORIN SPA EUR1 | 11 340.00 | 1 967 546.19 | 0.07 |
| EUR | ENEL EUR1 | 3 374 669.00 | 24 637 722.05 | 0.93 |
| EUR | ENI SPA EUR1 | 1 046 660.00 | 13 252 675.48 | 0.50 |
| EUR | FERRARI NV EUR0.01(NEW) | 52 855.00 | 12 459 316.23 | 0.47 |
| EUR | FINECOBANK SPA EUR0.33 | 257 381.00 | 4 116 326.82 | 0.15 |
| EUR | INFRASTRUTTURE WIR NPV | 141 870.00 | 1 569 959.87 | 0.06 |
| EUR | INTESA SANPAOLO NPV | 6 801 986.00 | 16 027 025.37 | 0.60 |
| EUR | MEDIOBANCA SPA EUR0.5 | 265 233.00 | 2 778 468.28 | 0.10 |
| EUR | MONCLER SPA NPV | 82 410.00 | 5 466 663.16 | 0.21 |
| EUR | NEXI SPA NPV | 186 571.00 | 2 704 509.95 | 0.10 |
| EUR | POSTE ITALIANE SPA NPV | 206 613.00 | 2 470 530.29 | 0.09 |
| EUR | PRYSMIAN SPA EUR0.10 | 104 265.00 | 3 577 045.45 | 0.13 |
| EUR | RECORDATI EUR0.125 | 42 174.00 | 2 468 993.64 | 0.09 |
| EUR | SNAM EUR1 | 865 275.00 | 4 751 784.71 | 0.18 |
| EUR | TELECOM ITALIA SPA EUR0.55 | 4 109 885.00 | 1 849 039.63 | 0.07 |
| EUR | TERNA SPA ORD EUR0.22 | 585 770.00 | 4 317 851.65 | 0.16 |
| EUR | UNICREDIT SPA NPV (POST REV SPLIT) | 870 280.00 | 12 213 290.26 | 0.46 |
| Total Italie |  | 134 882 257.65 | 5.06 |
| Luxembourg |  |  |  |
| EUR	ARCELORMITTAL NPV(POST STOCK SPLIT) | 281 128.00 | 8 198 456.31 | 0.31 |
| EUR	AROUNDTOWN SA EUR0.01 | 436 174.00 | 2 404 352.49 | 0.09 |
| EUR	EUROFINS SCIENTIFI EUR0.01 | 54 387.00 | 6 131 274.07 | 0.23 |
| EUR	TENARIS S.A. USD1 | 4 731.00 | 45 148.08 | 0.01 |
| EUR	TENARIS S.A. USD1 | 180 747.00 | 1 737 984.12 | 0.06 |
| Total Luxembourg |  | 18 517 215.07 | 0.70 |
| Pays-Bas |  |  |  |
| EUR	ABN AMRO BANK N.V. DR EACH REP SHS | 167 373.00 | 2 239 959.51 | 0.09 |
| EUR	ADYEN NV EUR0.01 | 8 255.00 | 19 771 412.90 | 0.74 |
| EUR	AEGON NV EUR0.12 | 748 286.00 | 3 406 085.57 | 0.13 |
| EUR	AKZO NOBEL NV EUR0.50(POST REV SPLIT) | 77 282.00 | 7 727 382.26 | 0.29 |
| EUR	ARGEN X NV EUR0.10 | 19 230.00 | 6 282 463.67 | 0.23 |
| EUR	ASM INTL NV EUR0.04 | 19 734.00 | 7 947 973.22 | 0.30 |
| EUR	ASML HOLDING NV EUR0.09 | 171 649.00 | 125 690 686.86 | 4.72 |
| EUR	CNH INDUSTRIAL NV COM EUR0.01 | 421 946.00 | 7 463 063.31 | 0.28 |
| EUR	EURONEXT EUR1.60 | 32 682.00 | 3 090 069.37 | 0.12 |
| EUR	EXOR NV EUR0.01 | 44 900.00 | 3 673 501.41 | 0.14 |
| EUR	HEINEKEN HOLDING EUR1.6 | 47 009.00 | 3 952 721.97 | 0.15 |
| EUR	HEINEKEN NV EUR1.60 | 109 073.00 | 11 172 866.13 | 0.42 |
| EUR	IMCD NV EUR0.16 | 23 585.00 | 4 758 045.19 | 0.18 |
| EUR	ING GROEP N.V. EUR0.01 | 1 639 480.00 | 20 796 259.54 | 0.78 |
| EUR	JDE PEETS N.V. EUR0.01 | 33 357.00 | 936 662.23 | 0.03 |
| EUR	JUST EAT TAKEAWAY EUR0.04 | 74 650.00 | 3 749 121.91 | 0.14 |
| EUR	KON KPN NV EUR0.04 | 1 410 996.00 | 3 991 307.24 | 0.15 |
| EUR	KONINKLIJKE AHOLD EUR0.01 | 434 596.00 | 13 570 118.84 | 0.51 |
| EUR	KONINKLIJKE DSM NV EUR1.5 | 72 607.00 | 14 896 025.72 | 0.56 |
| EUR	KONINKLIJKE PHILIPS NV EUR0.20 | 377 606.00 | 12 819 638.81 | 0.48 |
| EUR	NN GROUP N.V. EUR0.12 | 113 513.00 | 5 599 774.18 | 0.21 |
| EUR	PROSUS N.V. EUR0.05 | 387 740.00 | 29 541 456.41 | 1.11 |
| EUR	QIAGEN NV EUR0.01 | 94 207.00 | 4 782 085.58 | 0.18 |
| EUR	RANDSTAD N.V. EUR0.10 | 51 299.00 | 3 191 363.79 | 0.12 |
| EUR	STMICROELECTRONICS EUR1.04 | 281 638.00 | 12 656 318.76 | 0.47 |
| EUR	UNIVERSAL MUSIC GR EUR10.00 | 299 898.00 | 7 700 192.85 | 0.29 |
| EUR	WOLTERS KLUWER EUR0.12 | 110 027.00 | 11 810 975.20 | 0.44 |
| Total Pays-Bas |  | 353 217 532.43 | 13.26 |
| Norvège |  |  |  |
| NOK	ADEVINTA ASA SER’B’NOK0.2 | 123 610.00 | 1 498 154.59 | 0.06 |
| NOK	AKER BP ASA NOK1 | 51 891.00 | 1 456 219.41 | 0.06 |
| NOK	DNB BANK ASA NOK12.50 | 388 634.00 | 8 111 425.28 | 0.30 |
| NOK	EQUINOR ASA NOK2.50 | 403 061.00 | 9 824 347.80 | 0.37 |
| NOK	GJENSIDIGE FORSIKR NOK2 | 81 059.00 | 1 792 338.46 | 0.07 |
| NOK	MOWI ASA NOK7.50 | 186 326.00 | 4 017 916.62 | 0.15 |
| NOK	NORSK HYDRO ASA NOK3.6666 | 570 750.00 | 4 099 781.33 | 0.15 |
| NOK	ORKLA ASA NOK1.25 | 284 045.00 | 2 593 270.78 | 0.10 |
| NOK	SCHIBSTED ASA SER’A’NOK0.50 | 29 018.00 | 1 019 715.73 | 0.04 |
| NOK	SCHIBSTED ASA SER’B’NOK0.5 | 41 452.00 | 1 272 058.10 | 0.05 |
| NOK	TELENOR ASA ORD NOK6 | 300 187.00 | 4 298 927.50 | 0.16 |
| NOK	YARA INTERNATIONAL NOK1.7 | 67 933.00 | 3 123 530.96 | 0.11 |
| Total Norvège |  | 43 107 686.56 | 1.62 |
| Pologne |  |  |  |
| EUR	INPOST S.A. EUR0.01 | 86 594.00 | 950 907.88 | 0.04 |
| Total Pologne |  | 950 907.88 | 0.04 |

UBS (Lux) Institutional Fund – Equities Europe (ex UK ex Switzerland) Passive II Rapport annuel et états financiers révisés au 31 décembre 2021
|  | Dénomination | Quantité/ | Evaluation en CHF | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Plus- (Moins-) value non- | des |
|  |  | réalisée sur Futures/ | actifs |
|  |  | Contrats de | nets |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
| Portugal |  |  |  |  |
| EUR | EDP ENERGIAS PORTU EUR1(REGD) | 1 167 141.00 | 5 843 552.92 | 0.22 |
| EUR | GALP ENERGIA EUR1-B | 200 683.00 | 1 771 645.84 | 0.07 |
| EUR | JERONIMO MARTINS EUR5 | 116 746.00 | 2 431 446.94 | 0.09 |
| Total Portugal	10 046 645.70	0.38 |
| Espagne |  |  |  |  |
| EUR | ACS ACTIVIDADES CO EUR0.5 | 98 656.00 | 2 409 405.05 | 0.09 |
| EUR | AENA SME S.A. EUR10 | 30 836.00 | 4 434 801.99 | 0.17 |
| EUR | AMADEUS IT GROUP EUR0.01 | 188 951.00 | 11 676 523.56 | 0.44 |
| EUR | BANCO SANTANDER SA EUR0.50(REGD) | 7 126 536.00 | 21 713 328.24 | 0.82 |
| EUR | BBVA(BILB-VIZ-ARG) EUR0.49 | 2 757 036.00 | 14 997 831.53 | 0.56 |
| EUR | CAIXABANK SA EUR1 | 1 839 967.00 | 4 602 290.52 | 0.17 |
| EUR | CELLNEX TELECOM SA EUR0.25 | 211 133.00 | 11 196 521.82 | 0.42 |
| EUR | EDP RENOVAVEIS SA EUR5 | 124 167.00 | 2 817 585.05 | 0.10 |
| EUR | ENAGAS SA EUR1.50 | 97 751.00 | 2 066 227.36 | 0.08 |
| EUR | ENDESA SA EUR1.2 | 124 198.00 | 2 599 517.24 | 0.10 |
| EUR | FERROVIAL SA EUR0.2 | 199 243.00 | 5 689 695.39 | 0.21 |
| EUR | GRIFOLS SA EUR0.25 (CLASS A) POST SUBD | 122 904.00 | 2 149 000.56 | 0.08 |
| EUR | IBERDROLA SA EUR0.75 (POST SUBDIVISION) | 2 368 168.00 | 25 544 062.52 | 0.96 |
| EUR | INDITEX EUR0.03 (POST SUBD) | 457 489.00 | 13 524 124.45 | 0.51 |
| EUR | NATURGY ENERGY GRO EUR1 | 69 744.00 | 2 068 973.51 | 0.08 |
| EUR | RED ELECTRICA CORP EUR0.5 | 179 985.00 | 3 548 033.48 | 0.13 |
| EUR | REPSOL SA EUR1 | 618 026.00 | 6 682 939.77 | 0.25 |
| EUR | SIEMENS GAMESA REN EUR0.17 | 96 877.00 | 2 115 007.67 | 0.08 |
| EUR | TELEFONICA SA EUR1 | 2 138 741.00 | 8 536 330.16 | 0.32 |
| Total Espagne	148 372 199.87	5.57 |
| Suède |  |  |  |  |
| SEK | ALFA LAVAL AB NPV | 131 000.00 | 4 804 035.95 | 0.18 |
| SEK | ASSA ABLOY SER’B’NPV (POST SPLIT) | 419 308.00 | 11 655 030.31 | 0.44 |
| SEK | ATLAS COPCO AB SER’A’NPV (POST SPLIT) | 278 455.00 | 17 536 671.38 | 0.66 |
| SEK | ATLAS COPCO AB SER’B’NPV (POST SPLIT) | 164 088.00 | 8 788 368.85 | 0.33 |
| SEK | BOLIDEN AB NPV (POST SPLIT) | 109 161.00 | 3 844 962.73 | 0.14 |
| SEK | ELECTROLUX AB SER’B’NPV (POST SPLIT) | 98 509.00 | 2 176 040.73 | 0.08 |
| SEK | EMBRACER GROUP AB SER’B’NPV (POST SPLIT) | 222 797.00 | 2 163 905.24 | 0.08 |
| SEK | EPIROC AB SER’A’NPV (POST SPLIT) | 272 648.00 | 6 288 882.99 | 0.24 |
| SEK | EPIROC AB SER’B’NPV | 167 174.00 | 3 225 131.53 | 0.12 |
| SEK | EQT AB NPV | 124 091.00 | 6 156 640.40 | 0.23 |
| SEK | ERICSSON SER’B’ NPV | 1 215 386.00 | 12 205 563.56 | 0.46 |
| SEK | ESSITY AB SER’B’NPV | 252 013.00 | 7 491 866.32 | 0.28 |
| SEK | EVOLUTION AB NPV | 70 771.00 | 9 160 526.22 | 0.34 |
| SEK | FASTIGHETS AB BALD SER’B’NPV | 42 100.00 | 2 761 550.80 | 0.10 |
| SEK | GETINGE AB SER’B’NPV | 95 285.00 | 3 788 681.98 | 0.14 |
| SEK | HENNES & MAURITZ SER’B’NPV | 299 482.00 | 5 367 134.22 | 0.20 |
| SEK | HEXAGON AB SER’B’NPV (POST SPLIT) | 820 880.00 | 11 867 025.88 | 0.45 |
| SEK | HUSQVARNA AB SER’B’NPV | 178 883.00 | 2 607 619.10 | 0.10 |
| SEK | INDUSTRIVARDEN AB SER’A’NPV | 58 137.00 | 1 687 347.21 | 0.06 |
| SEK | INDUSTRIVARDEN AB SER’C’NPV | 59 964.00 | 1 714 424.69 | 0.06 |
| SEK | INVESTOR AB SER’A’NPV (POST SPLIT) | 205 661.00 | 4 938 317.03 | 0.19 |
| SEK | INVESTOR AB SER’B’NPV (POST SPLIT) | 763 041.00 | 17 488 914.09 | 0.66 |
| SEK | KINNEVIK AB SER’B’NPV (POST SPLIT) | 102 021.00 | 3 313 694.08 | 0.12 |
| SEK | LATOUR INVESTMENT SER’B’NPV (POST SPLIT) | 57 438.00 | 2 131 223.67 | 0.08 |
| SEK | LIFCO AB SER’B’NPV (POST SPLIT) | 96 706.00 | 2 634 500.35 | 0.10 |
| SEK | LUNDBERGFORETAGEN SER’B’NPV | 33 048.00 | 1 689 528.33 | 0.06 |
| SEK | LUNDIN ENERGY AB NPV | 79 620.00 | 2 600 120.40 | 0.10 |
| SEK | NIBE INDUSTRIER AB SER’B’NPV (POST SPLIT) | 582 743.00 | 8 019 752.86 | 0.30 |
| SEK | SAGAX AB NPV B | 59 619.00 | 1 829 957.95 | 0.07 |
| SEK | SANDVIK AB NPV (POST SPLIT) | 470 758.00 | 11 967 064.72 | 0.45 |
| SEK | SECURITAS SER’B’NPV | 121 461.00 | 1 523 651.77 | 0.06 |
| SEK | SINCH AB NPV (POST SPLIT) | 214 920.00 | 2 489 480.56 | 0.09 |
| SEK | SKAND ENSKILDA BKN SER’A’NPV | 684 177.00 | 8 665 193.69 | 0.32 |
| SEK | SKANSKA AB SER’B’NPV | 142 788.00 | 3 365 388.34 | 0.13 |
| SEK | SKF AB SER’B’NPV | 159 033.00 | 3 432 978.89 | 0.13 |
| SEK | SVENSKA CELLULOSA SER’B’NPV | 255 180.00 | 4 128 137.93 | 0.16 |
| SEK | SVENSKA HANDELSBKN SER’A’NPV (P/S) | 606 500.00 | 5 973 001.19 | 0.22 |
| SEK | SWEDBANK AB SER’A’NPV | 372 125.00 | 6 819 544.66 | 0.26 |
| SEK | SWEDISH MATCH NPV (POST SPLIT) | 662 295.00 | 4 800 220.40 | 0.18 |
| SEK | TELE2 AB SHS | 218 608.00 | 2 840 199.70 | 0.11 |
| SEK | TELIA COMPANY AB NPV | 1 132 715.00 | 4 035 913.36 | 0.15 |
| SEK | VOLVO AB SER’A’NPV (POST SPLIT) | 86 385.00 | 1 848 239.22 | 0.07 |
| SEK | VOLVO AB SER’B’NPV (POST SPLIT) | 597 423.00 | 12 604 725.42 | 0.47 |
| Total Suède |  | 244 431 158.70 | 9.17 |
| Royaume-Uni |  |  |  |
| EUR	COCA-COLA EUROPACI COM EUR0.01 | 12 404.00 | 630 801.97 | 0.02 |
| USD	COCA-COLA EUROPACI COM EUR0.01 | 72 799.00 | 3 709 882.14 | 0.14 |
| EUR	STELLANTIS N V COM EUR0.01 | 835 334.00 | 14 442 391.99 | 0.54 |
| Total Royaume-Uni |  | 18 783 076.10 | 0.70 |
| Total Actions |  | 2 652 932 853.12 | 99.57 |
| Total des Valeurs mobilières et instruments du marché monétaire admis à la cote officielle d’une bourse de valeurs |  | 2 652 932 853.12 | 99.57 |
| Total des investissements en titres |  | 2 652 932 853.12 | 99.57 |

UBS (Lux) Institutional Fund – Equities Europe (ex UK ex Switzerland) Passive II Rapport annuel et états financiers révisés au 31 décembre 2021
| Dénomination	Quantité/ | Evaluation en CHF | en % |
| --- | --- | --- |
| Nominal | Plus- (Moins-) value non- | des |
|  | réalisée sur Futures/ | actifs |
|  | Contrats de | nets |
|  | change à terme/ |  |
|  | Swaps (note 1) |  |
| Instruments dérivés |  |  |  |
| Instruments dérivés admis à la cote officielle d’une bourse de valeurs |  |  |  |
| Contrats financiers à terme sur indices |  |  |  |
|  |  |  |  |
| EUR	EURO STOXX 50 INDEX FUTURE 18.03.22 | 217.00 | 244 435.27 | 0.01 |
| Total des Contrats financiers à terme sur indices |  | 244 435.27 | 0.01 |
| Total des Instruments dérivés admis à la cote officielle d’une bourse de valeurs |  | 244 435.27 | 0.01 |
| Total des Instruments dérivés |  | 244 435.27 | 0.01 |
|  |  |  |  |
| Avoirs en banque, dépôts à vue et comptes de dépôt et autres liquidités |  | 10 248 330.97 | 0.39 |
| Autres actifs et passifs |  | 901 064.81 | 0.03 |
| Total des actifs nets |  | 2 664 326 684.17 | 100.00 |

UBS (Lux) Institutional Fund – Equities Europe (ex UK ex Switzerland) Passive II Rapport annuel et états financiers révisés au 31 décembre 2021