# UBS (Lux) Bond SICAV – Global Dynamic (USD)
| Three-year comparison |  |
| --- | --- |
|  | ISIN | 31.5.2022 | 31.5.2021 | 31.5.2020 |
| Net assets in USD |  | 1 073 426 743.85 | 1 387 273 948.99 | 976 416 981.44 |
| Class (EUR hedged) I-A1-acc | LU1240811650 |  |  |  |
| Shares outstanding |  | 322 802.7180 | 696 720.5160 | 750 514.6690 |
| Net asset value per share in EUR |  | 97.92 | 103.07 | 98.35 |
| Issue and redemption price per share in EUR 1 |  | 97.92 | 103.07 | 98.35 |
| Class I-A2-acc 2 | LU2189802106 |  |  |  |
| Shares outstanding |  | - | 984 720.2910 | - |
| Net asset value per share in USD |  | - | 104.75 | - |
| Issue and redemption price per share in USD 1 |  | - | 104.75 | - |
| Class I-A3-acc 3 | LU2099389871 |  |  |  |
| Shares outstanding |  | 1 008 279.6370 | - | - |
| Net asset value per share in USD |  | 99.73 | - | - |
| Issue and redemption price per share in USD 1 |  | 99.73 | - | - |
| Class (EUR hedged) I-A3-acc | LU2134544555 |  |  |  |
| Shares outstanding |  | 33 212.6330 | 43 257.2780 | 100.0000 |
| Net asset value per share in EUR |  | 113.56 | 119.41 | 113.84 |
| Issue and redemption price per share in EUR 1 |  | 113.56 | 119.41 | 113.84 |
| Class I-B-acc 4 | LU2113590561 |  |  |  |
| Shares outstanding |  | 108 417.0740 | 296 804.2700 | - |
| Net asset value per share in USD |  | 97.64 | 101.26 | - |
| Issue and redemption price per share in USD 1 |  | 97.64 | 101.26 | - |
| Class (EUR hedged) I-B-acc | LU1193130314 |  |  |  |
| Shares outstanding |  | 327 004.9150 | 410 405.4760 | 65 363.4740 |
| Net asset value per share in EUR |  | 100.27 | 104.90 | 114.38 |
| Issue and redemption price per share in EUR 1 |  | 100.27 | 104.90 | 114.38 |
| Class I-X-acc | LU1138686867 |  |  |  |
| Shares outstanding |  | 289 585.6960 | 378 558.2010 | 228 147.7250 |
| Net asset value per share in USD |  | 131.57 | 136.37 | 127.97 |
| Issue and redemption price per share in USD 1 |  | 131.57 | 136.37 | 127.97 |
| Class (CHF hedged) I-X-acc | LU1557225098 |  |  |  |
| Shares outstanding |  | 824 422.3640 | 511 993.5060 | 373 152.3150 |
| Net asset value per share in CHF |  | 118.47 | 123.99 | 117.74 |
| Issue and redemption price per share in CHF 1 |  | 118.47 | 123.99 | 117.74 |
| Class (EUR hedged) I-X-acc | LU1822788151 |  |  |  |
| Shares outstanding |  | 155 895.5390 | 121 225.2080 | 118 155.3140 |
| Net asset value per share in EUR |  | 108.73 | 113.68 | 107.73 |
| Issue and redemption price per share in EUR 1 |  | 108.73 | 113.68 | 107.73 |
| Class K-B-acc 5 | LU2282404438 |  |  |  |
| Shares outstanding |  | 296 651.9660 | 326 900.0000 | - |
| Net asset value per share in USD |  | 95.69 | 99.29 | - |
| Issue and redemption price per share in USD 1 |  | 95.69 | 99.29 | - |
| Class K-X-acc | LU1860987145 |  |  |  |
| Shares outstanding |  | 223 508.6630 | 164 788.8360 | 164 788.8360 |
| Net asset value per share in USD |  | 116.39 | 120.69 | 113.30 |
| Issue and redemption price per share in USD 1 |  | 116.39 | 120.69 | 113.30 |
| Class K-X-dist | LU1917356179 |  |  |  |
| Shares outstanding |  | 149 093.0950 | 149 093.0950 | 120 329.3350 |
| Net asset value per share in USD |  | 100.45 | 107.42 | 103.16 |
| Issue and redemption price per share in USD 1 |  | 100.45 | 107.42 | 103.16 |
| Class P-4%-mdist | LU2051222904 |  |  |  |
| Shares outstanding |  | 30 110.7940 | 43 916.0810 | 28 513.8550 |
| Net asset value per share in USD |  | 91.54 | 100.16 | 99.19 |
| Issue and redemption price per share in USD 1 |  | 91.54 | 100.16 | 99.19 |
| Class P-acc | LU0891671751 |  |  |  |
| Shares outstanding |  | 622 714.0450 | 649 268.7490 | 463 352.5420 |
| Net asset value per share in USD |  | 123.39 | 129.75 | 123.53 |
| Issue and redemption price per share in USD 1 |  | 123.39 | 129.75 | 123.53 |
| Class (CHF hedged) P-acc | LU0891672213 |  |  |  |
| Shares outstanding |  | 101 053.1660 | 124 770.3430 | 172 184.7300 |
| Net asset value per share in CHF |  | 105.77 | 112.36 | 108.30 |
| Issue and redemption price per share in CHF 1 |  | 105.77 | 112.36 | 108.30 |
| Class (EUR hedged) P-acc | LU0891672056 |  |  |  |
| Shares outstanding |  | 2 373 561.3340 | 2 792 700.8260 | 1 889 095.6090 |
| Net asset value per share in EUR |  | 109.52 | 116.22 | 111.81 |
| Issue and redemption price per share in EUR 1 |  | 109.52 | 116.22 | 111.81 |

UBS (Lux) Bond SICAV – Global Dynamic (USD)
Annual report and audited financial statements as of 31 May 2022
|  | ISIN | 31.5.2022 |  | 31.5.2021 | 31.5.2020 |
| --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |
| Class P-dist | LU0891671835 |  |  |  |  |
| Shares outstanding |  | 48 293.2440 |  | 44 236.5250 | 53 032.5600 |
| Net asset value per share in USD |  | 108.32 |  | 115.52 | 111.69 |
| Issue and redemption price per share in USD 1 |  | 108.32 |  | 115.52 | 111.69 |
| Class (CHF hedged) P-dist | LU0891672304 |  |  |  |  |
| Shares outstanding |  | 36 153.5680 |  | 40 564.8980 | 38 388.7570 |
| Net asset value per share in CHF |  | 92.68 |  | 100.14 | 97.84 |
| Issue and redemption price per share in CHF 1 |  | 92.68 |  | 100.14 | 97.84 |
| Class (EUR hedged) P-dist | LU0891672130 |  |  |  |  |
| Shares outstanding |  | 100 801.5470 |  | 145 771.3230 | 120 348.3040 |
| Net asset value per share in EUR |  | 95.86 |  | 103.31 | 100.87 |
| Issue and redemption price per share in EUR 1 |  | 95.86 |  | 103.31 | 100.87 |
| Class Q-4%-mdist | LU2038039314 |  |  |  |  |
| Shares outstanding |  | 137 554.7230 |  | 128 104.7630 | 108 504.5660 |
| Net asset value per share in USD |  | 92.44 |  | 100.52 | 98.94 |
| Issue and redemption price per share in USD 1 |  | 92.44 |  | 100.52 | 98.94 |
| Class Q-acc | LU1240774783 |  |  |  |  |
| Shares outstanding |  | 804 984.6060 |  | 983 891.7330 | 765 938.7300 |
| Net asset value per share in USD |  | 122.80 |  | 128.35 | 121.47 |
| Issue and redemption price per share in USD 1 |  | 122.80 |  | 128.35 | 121.47 |
| Class (CHF hedged) Q-acc | LU1240774437 |  |  |  |  |
| Shares outstanding |  | 412 244.6670 |  | 474 582.3430 | 463 749.4170 |
| Net asset value per share in CHF |  | 106.37 |  | 112.32 | 107.62 |
| Issue and redemption price per share in CHF 1 |  | 106.37 |  | 112.32 | 107.62 |
| Class (EUR hedged) Q-acc | LU1240774601 |  |  |  |  |
| Shares outstanding |  | 617 139.2940 |  | 845 260.0870 | 1 775 888.0570 |
| Net asset value per share in EUR |  | 108.94 |  | 114.91 | 109.87 |
| Issue and redemption price per share in EUR 1 |  | 108.94 |  | 114.91 | 109.87 |
| Class Q-dist | LU1240774866 |  |  |  |  |
| Shares outstanding |  | 219 860.9530 |  | 235 677.3560 | 240 782.2450 |
| Net asset value per share in USD |  | 109.38 |  | 117.01 | 112.61 |
| Issue and redemption price per share in USD 1 |  | 109.38 |  | 117.01 | 112.61 |
| Class (CHF hedged) Q-dist | LU1240774510 |  |  |  |  |
| Shares outstanding |  | 143 870.9260 |  | 153 651.6680 | 177 472.1870 |
| Net asset value per share in CHF |  | 94.47 |  | 101.94 | 99.66 |
| Issue and redemption price per share in CHF 1 |  | 94.47 |  | 101.94 | 99.66 |
| Class (EUR hedged) Q-dist | LU1109640307 |  |  |  |  |
| Shares outstanding |  | 57 812.7180 |  | 68 774.5520 | 87 628.7250 |
| Net asset value per share in EUR |  | 94.64 |  | 102.27 | 100.25 |
| Issue and redemption price per share in EUR 1 |  | 94.64 |  | 102.27 | 100.25 |
| 1  See note 1 2  For the period from 2.7.2020 to 12.4.2022 the share class I-A2-acc 3  First NAV: 13.4.2022 4  First NAV: 11.11.2020 5  First NAV: 11.2.2021 | was in circulation |  |  |  |  |
| Performance |  |  |  |  |  |
|  |  | Currency | 2021/2022 | 2020/2021 | 2019/2020 |
| Class (EUR hedged) I-A1-acc |  | EUR | -5.0% | 4.8% | - |
| Class I-A2-acc 1 |  | USD | - | - | - |
| Class I-A3-acc 2 |  | USD | - | - | - |
| Class (EUR hedged) I-A3-acc |  | EUR | -4.9% | 4.9% | - |
| Class I-B-acc |  | USD | -3.6% | - | - |
| Class (EUR hedged) I-B-acc |  | EUR | -4.4% | - | 3.2% |
| Class I-X-acc |  | USD | -3.5% | 6.6% | 6.1% |
| Class (CHF hedged) I-X-acc |  | CHF | -4.5% | 5.3% | 2.9% |
| Class (EUR hedged) I-X-acc |  | EUR | -4.4% | 5.5% | 3.3% |
| Class K-B-acc |  | USD | -3.6% | - | - |
| Class K-X-acc |  | USD | -3.6% | 6.5% | 6.0% |
| Class K-X-dist |  | USD | -3.6% | 6.5% | - |
| Class P-4%-mdist |  | USD | -4.9% | 5.0% | - |
| Class P-acc |  | USD | -4.9% | 5.0% | 4.6% |
| Class (CHF hedged) P-acc |  | CHF | -5.9% | 3.7% | 1.4% |
| Class (EUR hedged) P-acc |  | EUR | -5.8% | 3.9% | 1.8% |
| Class P-dist |  | USD | -4.9% | 5.0% | 4.5% |
| Class (CHF hedged) P-dist |  | CHF | -5.9% | 3.7% | 1.4% |
| Class (EUR hedged) P-dist |  | EUR | -5.8% | 3.9% | 1.8% |
| Class Q-4%-mdist |  | USD | -4.3% | 5.7% | - |
| Class Q-acc |  | USD | -4.3% | 5.7% | 5.2% |
| Class (CHF hedged) Q-acc |  | CHF | -5.3% | 4.4% | 2.0% |
| Class (EUR hedged) Q-acc |  | EUR | -5.2% | 4.6% | 2.4% |
| Class Q-dist |  | USD | -4.3% | 5.7% | 5.2% |
| Class (CHF hedged) Q-dist |  | CHF | -5.3% | 4.4% | 2.0% |
| Class (EUR hedged) Q-dist |  | EUR | -5.2% | 4.6% | 2.4% |

1 
For the period from 2.7.2020 to 12.4.2022 the share class I-A2-acc was in circulation. Due to this fact, there is no data for the calculation of the performance available.
2 
Due to the recent launch, there is no data for the calculation of the performance available.
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 – Global Dynamic (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 rose significantly as signs of strong and persistent inflation caused markets to bring forward expectations of Fed rate hikes. In the US, headline CPI rose to levels not seen in nearly forty years driven initially by the unleashing of pent-up demand and fiscal stimulus but later exacerbated by high commodity prices due to the ongoing Russian invasion of Ukraine. The Fed raised its policy rate from the lower effective bound to 1.0% at the end of the reporting period.
The subfund delivered a negative total performance over the financial year. Given the sharp snapback in government bond yields, markets where we held posi- tive duration detracted from performance, while mar- kets where we were negative duration contributed. As a result, our main positive duration positions in Mexico and New Zealand detracted from performance, while our negative duration in the UK, US, Germany, Poland and Canada contributed. Our exposure to spread sectors across Investment Grade and High Yield Corporates and EMD was a detractor from performance as credit spreads widened. Modest exposure to Russia and Ukraine was also a detractor. In terms of currencies, our preference for Emerging Market currencies was a small contributor, as well as underweight the Canadian dollar. The dura- tion of the strategy is currently near the bottom of the guideline range of 0-10 years, as we focus on minimiz- ing interest rate risk. In the near-term, we are focused on relative value opportunities and diversification across non-government bond sectors. We believe the beginning of a major Fed tightening cycle combined with quanti- tative tightening should lead to some volatility in devel- oped credit markets and present an attractive entry point going forward. Our strategy continues to balance long- term strategic themes that reflect our highest conviction ideas with tactical positions that allow us to take advan- tage of short-term opportunities across markets.
UBS (Lux) Bond SICAV – Global Dynamic (USD)
Annual report and audited financial statements as of 31 May 2022

## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
| United States | 30.60 |
| --- | --- |
| New Zealand | 14.73 |
| Luxembourg | 5.60 |
| United Kingdom | 4.79 |
| Spain | 3.92 |
| Mexico | 3.50 |
| Italy | 3.48 |
| France | 2.39 |
| Germany | 2.16 |
| The Netherlands | 2.08 |
| Slovenia | 1.83 |
| Brazil | 1.63 |
| China | 1.56 |
| Switzerland | 0.78 |
| India | 0.70 |
| Canada | 0.70 |
| Denmark | 0.67 |
| Australia | 0.58 |
| Ireland | 0.47 |
| Peru | 0.47 |
| Romania | 0.43 |
| Cayman Islands | 0.41 |
| Turkey | 0.37 |
| Norway | 0.35 |
| Greece | 0.32 |
| Kazakhstan | 0.30 |
| Japan | 0.28 |
| Costa Rica | 0.27 |
| Morocco | 0.24 |
| Colombia | 0.23 |
| Indonesia | 0.22 |
| Thailand | 0.22 |
| Ukraine | 0.22 |
| Ghana | 0.21 |
| Mongolia | 0.21 |
| Uruguay | 0.21 |
| Philippines | 0.20 |
| Russian Federation (CIS) | 0.18 |
| Finland | 0.18 |
| Bulgaria | 0.17 |
| Bermuda | 0.16 |
| Egypt | 0.14 |
| Saudi Arabia | 0.12 |
| Sweden | 0.11 |
| Nigeria | 0.11 |
| Kenya | 0.11 |
| Jersey | 0.11 |
| Ecuador | 0.10 |
| Multinationals | 0.09 |
| Poland | 0.09 |
| South Africa | 0.09 |
| Malaysia | 0.08 |
| Czech Republic | 0.08 |
| Belgium | 0.08 |
| Argentina | 0.07 |
| Chile | 0.05 |
| Guatemala | 0.05 |
| Total | 89.50 |

Economic Breakdown as a % of net assets	
| Countries & central governments | 50.26 |
| --- | --- |
| Finance & holding companies | 7.59 |
| Mortgage & funding institutions | 6.51 |
| Banks & credit institutions | 6.22 |
| Investment funds | 3.86 |
| Traffic & transportation | 1.93 |
| Telecommunications | 1.78 |
| Energy & water supply | 1.57 |
| Petroleum | 1.18 |
| Insurance | 0.97 |
| Miscellaneous unclassified companies | 0.94 |
| Miscellaneous services | 0.92 |
| Vehicles | 0.71 |
| Real Estate | 0.68 |
| Internet, software & IT services | 0.67 |
| Cantons, federal states | 0.59 |
| Tobacco & alcohol | 0.41 |
| Computer hardware & network equipment providers | 0.41 |
| Retail trade, department stores | 0.40 |
| Chemicals | 0.29 |
| Mechanical engineering & industrial equipment | 0.29 |
| Building industry & materials | 0.21 |
| Electrical devices & components | 0.20 |
| Healthcare & social services | 0.19 |
| Graphic design, publishing & media | 0.14 |
| Textiles, garments & leather goods | 0.12 |
| Aerospace industry | 0.10 |
| Mining, coal & steel | 0.09 |
| Pharmaceuticals, cosmetics & medical products | 0.09 |
| Biotechnology | 0.06 |
| Food & soft drinks | 0.05 |
| Packaging industry | 0.04 |
| Miscellaneous consumer goods | 0.03 |
| Total | 89.50 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Annual report and audited financial statements as of 31 May 2022

## Statement of Net Assets
USD
Investments in securities, cost	1 153 988 595.62
Investments in securities, unrealized appreciation (depreciation)	193 280 440.90
Total investments in securities (Note 1)	960 708 154.72
Cash at banks, deposits on demand and deposit accounts	84 031 613.13 *
Receivable on subscriptions	470 376.74
Interest receivable on securities	8 449 934.41
Interest receivable on liquid assets	766.07
Interest receivable on swaps (Note 1)	4 840.80
Prepaid expenses	125 308.13
Unrealized gain on financial futures (Note 1)	16 629 949.09
Unrealized gain on forward foreign exchange contracts (Note 1)	4 277 649.25
Unrealized gain on swaps (Note 1)	30 047 109.85
Bank overdraft	-18 449 077.92
Other short-term liabilities (Margins)	-7 759 689.38
Payable on securities purchases (Note 1)	-42 580.31
Payable on redemptions	-4 116 246.30
Provisions for flat fee (Note 2)	-765 663.63
Provisions for taxe d’abonnement (Note 3)	-66 686.06
Provisions for other commissions and fees (Note 2)		-119 014.74		 Total provisions			-951 364.43

## Statement of Operations
USD
Interest on liquid assets	354 934.07
Interest on securities	34 835 417.51
Dividends	4 168.18
Interest received on swaps (Note 1)	17 281 961.37
Net income on securities lending (Note 17)	457 016.85
Other income (Note 4)	582 363.10
Interest paid on swaps (Note 1)	-18 156 801.62
Flat fee (Note 2)	-10 666 329.70
Taxe d’abonnement (Note 3)	-450 737.20
Other commissions and fees (Note 2)	-153 775.82
Interest on cash and bank overdraft	-462 828.99
Realized gain (loss) on market-priced securities without options	-3 525 824.51
Realized gain (loss) on options	219 911.31
Realized gain (loss) on financial futures	54 674 041.34
Realized gain (loss) on forward foreign exchange contracts	-38 151 408.58
Realized gain (loss) on swaps	-6 984 008.36
Realized gain (loss) on foreign exchange	-7 451 042.79
Unrealized appreciation (depreciation) on market-priced securities without options	-239 515 020.56
Unrealized appreciation (depreciation) on financial futures	14 010 458.91
Unrealized appreciation (depreciation) on forward foreign exchange contracts	23 109 953.86
Unrealized appreciation (depreciation) on swaps	28 596 153.06
* As at 31 May 2022, cash amounts serve as collateral for the counterparty Bank of America for an amount of USD 420 000.00, Citibank for an amount of USD 3 050 000.00 and Morgan Stanley London for an amount of USD 1 281 000.00.
UBS (Lux) Bond SICAV – Global Dynamic (USD)
Annual report and audited financial statements as of 31 May 2022
| Changes in Net Assets |  |
| --- | --- |
|  | USD |
|  | 1.6.2021-31.5.2022 |
| Net assets at the beginning of the financial year | 1 387 273 948.99 |
| Subscriptions | 401 328 899.79 |
| Redemptions | 	-561 049 374.18	 |
| Total net subscriptions (redemptions) | -159 720 474.39 |
| Dividend paid | -2 735 332.18 |
| Net income (loss) on investments | 23 625 387.75 |
| Total realized gain (loss) | -1 218 331.59 |
| Total changes in unrealized appreciation (depreciation) | 	-173 798 454.73	 |
| Net increase (decrease) in net assets as a result of operations | -151 391 398.57 |
| Net assets at the end of the financial year | 1 073 426 743.85 |
| Changes in the Number of Shares outstanding |  |
|  | 1.6.2021-31.5.2022 |
| Class | (EUR hedged) I-A1-acc |
| Number of shares outstanding at the beginning of the financial year | 696 720.5160 |
| Number of shares issued | 118 518.0530 |
| Number of shares redeemed | -492 435.8510 |
| Number of shares outstanding at the end of the financial year | 322 802.7180 |
| Class | I-A2-acc |
| Number of shares outstanding at the beginning of the financial year | 984 720.2910 |
| Number of shares issued | 466 293.2650 |
| Number of shares redeemed | -1 451 013.5560 |
| Number of shares outstanding at the end of the financial year | 0.0000 |
| Class | I-A3-acc |
| Number of shares outstanding at the beginning of the financial year | 0.0000 |
| Number of shares issued | 1 099 363.5360 |
| Number of shares redeemed | -91 083.8990 |
| Number of shares outstanding at the end of the financial year | 1 008 279.6370 |
| Class | (EUR hedged) I-A3-acc |
| Number of shares outstanding at the beginning of the financial year | 43 257.2780 |
| Number of shares issued | 6 495.8940 |
| Number of shares redeemed | -16 540.5390 |
| Number of shares outstanding at the end of the financial year | 33 212.6330 |
| Class | I-B-acc |
| Number of shares outstanding at the beginning of the financial year | 296 804.2700 |
| Number of shares issued | 29 102.1040 |
| Number of shares redeemed | -217 489.3000 |
| Number of shares outstanding at the end of the financial year | 108 417.0740 |
| Class | (EUR hedged) I-B-acc |
| Number of shares outstanding at the beginning of the financial year | 410 405.4760 |
| Number of shares issued | 102 573.1130 |
| Number of shares redeemed | -185 973.6740 |
| Number of shares outstanding at the end of the financial year | 327 004.9150 |
| Class | I-X-acc |
| Number of shares outstanding at the beginning of the financial year | 378 558.2010 |
| Number of shares issued | 19 705.3390 |
| Number of shares redeemed | -108 677.8440 |
| Number of shares outstanding at the end of the financial year | 289 585.6960 |
| Class | (CHF hedged) I-X-acc |
| Number of shares outstanding at the beginning of the financial year | 511 993.5060 |
| Number of shares issued | 312 646.4250 |
| Number of shares redeemed | -217.5670 |
| Number of shares outstanding at the end of the financial year | 824 422.3640 |
| Class | (EUR hedged) I-X-acc |
| Number of shares outstanding at the beginning of the financial year | 121 225.2080 |
| Number of shares issued | 111 700.5850 |
| Number of shares redeemed | -77 030.2540 |
| Number of shares outstanding at the end of the financial year | 155 895.5390 |
| Class | K-B-acc |
| Number of shares outstanding at the beginning of the financial year | 326 900.0000 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -30 248.0340 |
| Number of shares outstanding at the end of the financial year | 296 651.9660 |
| Class | K-X-acc |
| Number of shares outstanding at the beginning of the financial year | 164 788.8360 |
| Number of shares issued | 82 719.8270 |
| Number of shares redeemed | -24 000.0000 |
| Number of shares outstanding at the end of the financial year | 223 508.6630 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Annual report and audited financial statements as of 31 May 2022
| Class | K-X-dist |
| --- | --- |
| Number of shares outstanding at the beginning of the financial year | 149 093.0950 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the financial year | 149 093.0950 |
| Class | P-4%-mdist |
| Number of shares outstanding at the beginning of the financial year | 43 916.0810 |
| Number of shares issued | 9 164.3380 |
| Number of shares redeemed | -22 969.6250 |
| Number of shares outstanding at the end of the financial year | 30 110.7940 |
| Class | P-acc |
| Number of shares outstanding at the beginning of the financial year | 649 268.7490 |
| Number of shares issued | 110 041.5310 |
| Number of shares redeemed | -136 596.2350 |
| Number of shares outstanding at the end of the financial year | 622 714.0450 |
| Class | (CHF hedged) P-acc |
| Number of shares outstanding at the beginning of the financial year | 124 770.3430 |
| Number of shares issued | 11 988.6590 |
| Number of shares redeemed | -35 705.8360 |
| Number of shares outstanding at the end of the financial year | 101 053.1660 |
| Class | (EUR hedged) P-acc |
| Number of shares outstanding at the beginning of the financial year | 2 792 700.8260 |
| Number of shares issued | 367 322.4900 |
| Number of shares redeemed | -786 461.9820 |
| Number of shares outstanding at the end of the financial year | 2 373 561.3340 |
| Class | P-dist |
| Number of shares outstanding at the beginning of the financial year | 44 236.5250 |
| Number of shares issued | 29 056.2130 |
| Number of shares redeemed | -24 999.4940 |
| Number of shares outstanding at the end of the financial year | 48 293.2440 |
| Class | (CHF hedged) P-dist |
| Number of shares outstanding at the beginning of the financial year | 40 564.8980 |
| Number of shares issued | 3 323.7450 |
| Number of shares redeemed | -7 735.0750 |
| Number of shares outstanding at the end of the financial year | 36 153.5680 |
| Class | (EUR hedged) P-dist |
| Number of shares outstanding at the beginning of the financial year | 145 771.3230 |
| Number of shares issued | 12 456.1330 |
| Number of shares redeemed | -57 425.9090 |
| Number of shares outstanding at the end of the financial year | 100 801.5470 |
| Class | Q-4%-mdist |
| Number of shares outstanding at the beginning of the financial year | 128 104.7630 |
| Number of shares issued | 95 809.8970 |
| Number of shares redeemed | -86 359.9370 |
| Number of shares outstanding at the end of the financial year | 137 554.7230 |
| Class | Q-acc |
| Number of shares outstanding at the beginning of the financial year | 983 891.7330 |
| Number of shares issued | 273 627.4530 |
| Number of shares redeemed | -452 534.5800 |
| Number of shares outstanding at the end of the financial year | 804 984.6060 |
| Class | (CHF hedged) Q-acc |
| Number of shares outstanding at the beginning of the financial year | 474 582.3430 |
| Number of shares issued | 40 330.6040 |
| Number of shares redeemed | -102 668.2800 |
| Number of shares outstanding at the end of the financial year | 412 244.6670 |
| Class | (EUR hedged) Q-acc |
| Number of shares outstanding at the beginning of the financial year | 845 260.0870 |
| Number of shares issued | 153 232.2240 |
| Number of shares redeemed | -381 353.0170 |
| Number of shares outstanding at the end of the financial year | 617 139.2940 |
| Class | Q-dist |
| Number of shares outstanding at the beginning of the financial year | 235 677.3560 |
| Number of shares issued | 16 636.6850 |
| Number of shares redeemed | -32 453.0880 |
| Number of shares outstanding at the end of the financial year | 219 860.9530 |
| Class | (CHF hedged) Q-dist |
| Number of shares outstanding at the beginning of the financial year | 153 651.6680 |
| Number of shares issued | 16 043.6020 |
| Number of shares redeemed | -25 824.3440 |
| Number of shares outstanding at the end of the financial year | 143 870.9260 |
| Class | (EUR hedged) Q-dist |
| Number of shares outstanding at the beginning of the financial year | 68 774.5520 |
| Number of shares issued | 3 768.3180 |
| Number of shares redeemed | -14 730.1520 |
| Number of shares outstanding at the end of the financial year | 57 812.7180 |

UBS (Lux) Bond SICAV – Global Dynamic (USD)
Annual report and audited financial statements as of 31 May 2022
| Annual Distribution 1 |  |
| --- | --- |
| UBS (Lux) Bond SICAV – Global Dynamic (USD) | Ex-Date | Pay-Date | Currency | Amount per share |
| K-X-dist | 2.8.2021 | 5.8.2021 | USD | 3.27 |
| P-dist | 2.8.2021 | 5.8.2021 | USD | 1.62 |
| (CHF hedged) P-dist | 2.8.2021 | 5.8.2021 | CHF | 1.68 |
| (EUR hedged) P-dist | 2.8.2021 | 5.8.2021 | EUR | 1.59 |
| Q-dist | 2.8.2021 | 5.8.2021 | USD | 2.68 |
| (CHF hedged) Q-dist | 2.8.2021 | 5.8.2021 | CHF | 2.18 |
| (EUR hedged) Q-dist | 2.8.2021 | 5.8.2021 | EUR | 2.44 |
| Monthly Distribution 1 |  |  |  |  |
| UBS (Lux) Bond SICAV – Global Dynamic (USD) | Ex-Date | Pay-Date | Currency | Amount per share |
| P-4%-mdist | 10.6.2021 | 15.6.2021 | USD | 0.33 |
| P-4%-mdist | 12.7.2021 | 15.7.2021 | USD | 0.33 |
| P-4%-mdist | 10.8.2021 | 13.8.2021 | USD | 0.33 |
| P-4%-mdist | 10.9.2021 | 15.9.2021 | USD | 0.33 |
| P-4%-mdist | 11.10.2021 | 14.10.2021 | USD | 0.33 |
| P-4%-mdist | 10.11.2021 | 15.11.2021 | USD | 0.32 |
| P-4%-mdist | 10.12.2021 | 15.12.2021 | USD | 0.32 |
| P-4%-mdist | 10.1.2022 | 13.1.2022 | USD | 0.32 |
| P-4%-mdist | 10.2.2022 | 15.2.2022 | USD | 0.32 |
| P-4%-mdist | 10.3.2022 | 15.3.2022 | USD | 0.31 |
| P-4%-mdist | 11.4.2022 | 14.4.2022 | USD | 0.30 |
| P-4%-mdist | 10.5.2022 | 13.5.2022 | USD | 0.30 |
| Q-4%-mdist | 10.6.2021 | 15.6.2021 | USD | 0.33 |
| Q-4%-mdist | 12.7.2021 | 15.7.2021 | USD | 0.33 |
| Q-4%-mdist | 10.8.2021 | 13.8.2021 | USD | 0.33 |
| Q-4%-mdist | 10.9.2021 | 15.9.2021 | USD | 0.33 |
| Q-4%-mdist | 11.10.2021 | 14.10.2021 | USD | 0.33 |
| Q-4%-mdist | 10.11.2021 | 15.11.2021 | USD | 0.32 |
| Q-4%-mdist | 10.12.2021 | 15.12.2021 | USD | 0.32 |
| Q-4%-mdist | 10.1.2022 | 13.1.2022 | USD | 0.32 |
| Q-4%-mdist | 10.2.2022 | 15.2.2022 | USD | 0.32 |
| Q-4%-mdist | 10.3.2022 | 15.3.2022 | USD | 0.31 |
| Q-4%-mdist | 11.4.2022 | 14.4.2022 | USD | 0.31 |
| Q-4%-mdist | 10.5.2022 | 13.5.2022 | USD | 0.30 |
| 1  See note 5 |  |  |  |  |

UBS (Lux) Bond SICAV – Global Dynamic (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 |  |  |  |
| BRL |  |  |  |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF 10.00000% 16-01.01.27 | 10 250.00 | 1 988 338.34 | 0.19 |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF 10.00000% 20-01.01.31 | 70 550.00 | 13 004 016.62 | 1.21 |
| Total BRL |  | 14 992 354.96 | 1.40 |
| CAD |  |  |  |
| CAD	QUEBEC, PROVINCE OF 2.30000% 19-01.09.29 | 2 500 000.00 | 1 831 899.04 | 0.17 |
| Total CAD |  | 1 831 899.04 | 0.17 |
| EUR |  |  |  |
| EUR	ALTICE FINCO SA-REG-S 4.75000% 17-15.01.28 | 1 000 000.00 | 891 721.35 | 0.08 |
| EUR	ALTICE FRANCE HOLDING SA-REG-S 8.00000% 19-15.05.27 | 3 125 000.00 | 3 138 427.73 | 0.29 |
| EUR	ALTICE FRANCE HOLDING SA-REG-S 4.00000% 20-15.02.28 | 2 020 000.00 | 1 712 075.82 | 0.16 |
| EUR	ALTICE FRANCE-REG-S 5.87500% 18-01.02.27 | 2 240 000.00 | 2 288 666.50 | 0.21 |
| EUR	ARD FINANCE SA-REG-S (PIK) 5.00000% 19-30.06.27 | 2 202 600.00 | 1 861 083.43 | 0.17 |
| EUR	BACARDI LTD-REG-S 2.75000% 13-03.07.23 | 200 000.00 | 217 007.39 | 0.02 |
| EUR	BOUYGUES SA 3.25000% 22-30.06.37 | 2 100 000.00 | 2 227 641.67 | 0.21 |
| EUR	BP CAPITAL MARKETS BV-REG-S 0.93300% 20-04.12.40 | 790 000.00 | 566 464.23 | 0.05 |
| EUR	BULGARIAN ENERGY HOLDING EAD-REG-S 2.45000% 21-22.07.28 | 2 115 000.00 | 1 874 861.58 | 0.18 |
| EUR	CASINO GUICHARD PERRACHON SA-REG-S 6.62500% 20-15.01.26 | 2 700 000.00 | 2 447 082.31 | 0.23 |
| EUR	CHINA, PEOPLE’S REPUBLIC OF-REG-S 1.00000% 19-12.11.39 | 2 810 000.00 | 2 408 170.00 | 0.22 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 2.87500% 21-11.02.25 | 2 000 000.00 | 2 075 546.87 | 0.19 |
| EUR	DKT FINANCE APS-REG-S 7.00000% 18-17.06.23 | 5 225 000.00 | 5 541 308.43 | 0.52 |
| EUR	EG GLOBAL FINANCE PLC-REG-S 6.25000% 19-30.10.25 | 500 000.00 | 514 200.00 | 0.05 |
| EUR	FISERV INC 1.62500% 19-01.07.30 | 495 000.00 | 478 503.92 | 0.05 |
| EUR	GOLDMAN SACHS GROUP INC-REG-S 3.37500% 20-27.03.25 | 710 000.00 | 788 843.33 | 0.07 |
| EUR	GTC AURORA LUXEMBOURG SA-REG-S 2.25000% 21-23.06.26 | 1 315 000.00 | 1 151 748.01 | 0.11 |
| EUR	INTERNATIONAL GAME TECHNOLOGY PLC-REG-S 2.37500% 19-15.04.28 | 520 000.00 | 486 782.60 | 0.05 |
| EUR	JAGUAR LAND ROVER AUTOMOTIVE PLC-REG-S 4.50000% 18-15.01.26 | 1 700 000.00 | 1 648 482.35 | 0.15 |
| EUR	JAGUAR LAND ROVER AUTOMOTIVE PLC-REG-S 4.50000% 21-15.07.28 | 1 635 000.00 | 1 423 046.63 | 0.13 |
| EUR	LOXAM SAS-REG-S 3.75000% 19-15.07.26 | 1 700 000.00 | 1 707 253.69 | 0.16 |
| EUR	LVMH MOET HENNESSY LOUIS VUITTON-REG-S 0.12500% 20-11.02.28 | 1 300 000.00 | 1 267 428.01 | 0.12 |
| EUR	MACIF-REG-S-SUB 0.62500% 21-21.06.27 | 1 000 000.00 | 944 750.37 | 0.09 |
| EUR	NATIONAL GRID ELECTRICITY TRANS-REG-S 0.19000% 20-20.01.25 | 535 000.00 | 549 605.98 | 0.05 |
| EUR	SOFTBANK GROUP CORP-REG-S 5.00000% 18-15.04.28 | 1 200 000.00 | 1 162 112.83 | 0.11 |
| EUR	TELE COLUMBUS AG-REG-S 3.87500% 18-02.05.25 | 2 870 000.00 | 2 724 776.84 | 0.25 |
| EUR	TEVA PHARMACEUTICAL FINANCE II BV 4.50000% 18-01.03.25 | 1 500 000.00 | 1 598 639.77 | 0.15 |
| EUR	TRITAX EUROBOX PLC-REG-S 0.95000% 21-02.06.26 | 760 000.00 | 744 243.82 | 0.07 |
| EUR	UKRAINE, GOVERNMENT OF-REG-S 4.37500% 20-27.01.30 | 2 600 000.00 | 995 726.88 | 0.09 |
| EUR	VERISURE MIDHOLDING AB-REG-S 5.25000% 21-15.02.29 | 715 000.00 | 643 423.38 | 0.06 |
| Total EUR |  | 46 079 625.72 | 4.29 |
| GBP |  |  |  |
| GBP	CPUK FINANCE LTD-REG-S 4.50000% 21-28.08.27 | 530 000.00 | 616 798.67 | 0.06 |
| GBP	VIRGIN MEDIA SECURED FINANCE PLC-REG-S 5.25000% 19-15.05.29 | 1 000 000.00 | 1 162 626.75 | 0.11 |
| Total GBP |  | 1 779 425.42 | 0.17 |
| USD |  |  |  |
| USD	3M CO 2.65000% 20-15.04.25 | 355 000.00 | 351 160.69 | 0.03 |
| USD	ABBVIE INC 4.25000% 18-14.11.28 | 300 000.00 | 304 269.10 | 0.03 |
| USD	ADOBE INC 2.15000% 20-01.02.27 | 380 000.00 | 361 420.06 | 0.03 |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 4.50000% 20-15.09.23 | 240 000.00 | 240 827.73 | 0.02 |
| USD	AERCAP IRELAND CAP/ GLBL AVIATION TRUST 6.50000% 20-15.07.25 | 310 000.00 | 323 578.09 | 0.03 |
| USD	AERCAP IRELAND CAPITAL DAC / AERCAP GLO 3.00000% 21-29.10.28 | 2 690 000.00 | 2 360 282.59 | 0.22 |
| USD	ALIBABA GROUP HOLDING LTD 3.40000% 17-06.12.27 | 400 000.00 | 384 916.00 | 0.04 |
| USD	ALTRIA GROUP INC 4.25000% 12-09.08.42 | 150 000.00 | 120 455.79 | 0.01 |
| USD	ALTRIA GROUP INC 4.80000% 19-14.02.29 | 56 000.00 | 55 945.66 | 0.01 |
| USD	AMERICAN EXPRESS CO 3.40000% 18-27.02.23 | 750 000.00 | 755 970.99 | 0.07 |
| USD	ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.75000% 19-23.01.29 | 125 000.00 | 130 008.79 | 0.01 |
| USD	ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.50000% 20-01.06.50 | 730 000.00 | 694 353.79 | 0.06 |
| USD	ANTHEM INC 3.65000% 17-01.12.27 | 150 000.00 | 148 899.68 | 0.01 |
| USD	APPLE INC 1.80000% 19-11.09.24 | 165 000.00 | 161 927.28 | 0.02 |
| USD	APT PIPELINES LTD-REG-S 4.20000% 15-23.03.25 | 1 000 000.00 | 1 004 536.50 | 0.09 |
| USD	ARGENTINA, REPUBLIC OF STEP-UP 20-09.07.35 | 970 000.00 | 263 840.00 | 0.02 |
| USD	ARGENTINA, REPUBLIC OF STEP-UP 20-09.01.38 | 210 305.00 | 73 186.14 | 0.01 |
| USD	ARGENTINA, REPUBLIC OF 1.00000% 20-09.07.29 | 55 703.00 | 16 488.09 | 0.00 |
| USD	AT&T INC 4.35000% 19-01.03.29 | 800 000.00 | 809 733.96 | 0.08 |
| USD	AT&T INC 4.75000% 15-15.05.46 | 200 000.00 | 197 073.76 | 0.02 |
| USD	BOEING CO/THE 2.19600% 21-04.02.26 | 1 230 000.00 | 1 126 428.94 | 0.11 |
| USD	CHEVRON USA INC 3.85000% 21-15.01.28 | 250 000.00 | 254 105.05 | 0.02 |
| USD	CHILE, REPUBLIC OF 3.86000% 17-21.06.47 | 600 000.00 | 529 050.00 | 0.05 |
| USD	CIGNA CORP 2.40000% 20-15.03.30 | 715 000.00 | 631 742.11 | 0.06 |
| USD	CIGNA CORP 4.37500% 19-15.10.28 | 170 000.00 | 172 608.78 | 0.02 |
| USD	CIGNA CORP 4.90000% 19-15.12.48 | 50 000.00 | 49 855.92 | 0.00 |
| USD	CITIGROUP INC-SUB 4.60000% 16-09.03.26 | 200 000.00 | 202 777.69 | 0.02 |
| USD	CNOOC PETROLEUM NORTH AMERICA ULC 6.40000% 07-15.05.37 | 575 000.00 | 638 208.26 | 0.06 |
| USD	COCA-COLA FEMSA SA 2.75000% 20-22.01.30 | 565 000.00 | 515 014.45 | 0.05 |
| USD	COLOMBIA, REPUBLIC OF 5.20000% 19-15.05.49 | 1 000 000.00 | 790 187.51 | 0.07 |
| USD	COMCAST CORP 3.95000% 18-15.10.25 | 95 000.00 | 96 911.49 | 0.01 |
| USD	COMCAST CORP 4.15000% 18-15.10.28 | 700 000.00 | 716 121.89 | 0.07 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 4.25000% 12-26.01.23 | 2 000 000.00 | 2 006 000.00 | 0.19 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 7.15800% 15-12.03.45 | 1 000 000.00 | 939 562.51 | 0.09 |
| USD	CVS HEALTH CORP 2.62500% 19-15.08.24 | 560 000.00 | 554 002.34 | 0.05 |
| USD	CVS HEALTH CORP 4.30000% 18-25.03.28 | 68 000.00 | 68 847.37 | 0.01 |
| USD	DISCOVERY COMMUNICATIONS LLC 5.30000% 19-15.05.49 | 500 000.00 | 461 767.65 | 0.04 |
| USD	ECUADOR GOVT INTERNATIONAL BD-REG-S STEP-UP/DOWN 20-31.07.35 | 802 386.00 | 512 423.76 | 0.05 |

UBS (Lux) Bond SICAV – Global Dynamic (USD)
Annual report and audited financial statements as of 31 May 2022
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | ECUADOR, REPUBLIC OF-REG-S STEP-UP 0.50000% 20-31.07.30 | 306 180.00 | 253 325.68 | 0.02 |
| USD | ECUADOR, REPUBLIC OF-REG-S STEP-UP 20-31.07.40 | 367 740.00 | 200 487.25 | 0.02 |
| USD | ENERGY TRANSFER LP 6.00000% 18-15.06.48 | 700 000.00 | 692 069.72 | 0.06 |
| USD | ENLINK MIDSTREAM PARTNERS LP 4.40000% 14-01.04.24 | 125 000.00 | 124 843.75 | 0.01 |
| USD | EQT CORP 3.90000% 17-01.10.27 | 2 340 000.00 | 2 255 502.60 | 0.21 |
| USD | EVERSOURCE ENERGY 2.90000% 22-01.03.27 | 1 810 000.00 | 1 738 985.69 | 0.16 |
| USD | FIRSTENERGY CORP 2.25000% 20-01.09.30 | 585 000.00 | 489 800.02 | 0.05 |
| USD | FISERV INC 3.20000% 19-01.07.26 | 620 000.00 | 602 094.48 | 0.06 |
| USD | FLOWSERVE CORP 3.50000% 20-01.10.30 | 1 450 000.00 | 1 291 725.09 | 0.12 |
| USD | FOMENTO ECONOMICO MEXIC SAB DE CV 3.50000% 20-16.01.50 | 760 000.00 | 625 419.20 | 0.06 |
| USD | FORD MOTOR CO 3.25000% 21-12.02.32 | 1 560 000.00 | 1 318 746.00 | 0.12 |
| USD | GENERAL MOTORS CO 6.12500% 20-01.10.25 | 705 000.00 | 746 243.95 | 0.07 |
| USD | GENERAL MOTORS FINANCIAL CO 4.35000% 18-09.04.25 | 300 000.00 | 302 387.10 | 0.03 |
| USD | GEORGIA POWER CO 2.10000% 20-30.07.23 | 480 000.00 | 476 146.53 | 0.04 |
| USD | GHANA GOVT INTNL BOND-REG-S 6.37500% 20-11.02.27 | 3 700 000.00 | 2 247 749.99 | 0.21 |
| USD | GILEAD SCIENCES INC 4.75000% 15-01.03.46 | 700 000.00 | 696 288.08 | 0.06 |
| USD | GOLDMAN SACHS GROUP INC 3.50000% 20-01.04.25 | 1 100 000.00 | 1 098 520.98 | 0.10 |
| USD | GUATEMALA, REPUBLIC OF-REG-S 5.75000% 12-06.06.22 | 500 000.00 | 499 300.00 | 0.05 |
| USD | HARTFORD FINANCIAL SERVICES GROUP INC 4.40000% 18-15.03.48 | 155 000.00 | 144 932.54 | 0.01 |
| USD | INDONESIA, REPUBLIC OF-REG-S 5.25000% 12-17.01.42 | 2 000 000.00 | 2 057 250.00 | 0.19 |
| USD | INTERNATIONAL BUSINESS MACHINES CORP 3.30000% 19-15.05.26 | 750 000.00 | 745 629.17 | 0.07 |
| USD | JPMORGAN CHASE & CO 3.20000% 13-25.01.23 | 500 000.00 | 503 786.52 | 0.05 |
| USD | JPMORGAN CHASE & CO-SUB 3.62500% 16-01.12.27 | 300 000.00 | 292 942.18 | 0.03 |
| USD | KENYA, REPUBLIC OF-REG-S 8.25000% 18-28.02.48 | 1 550 000.00 | 1 205 125.00 | 0.11 |
| USD | MEITUAN DIANPING-REG-S 3.05000% 20-28.10.30 | 3 600 000.00 | 2 736 675.00 | 0.26 |
| USD | MEXICHEM SAB DE CV-REG-S 4.00000% 17-04.10.27 | 200 000.00 | 190 700.00 | 0.02 |
| USD | MEXICHEM SAB DE CV-REG-S 5.50000% 17-15.01.48 | 200 000.00 | 175 400.00 | 0.02 |
| USD | MPLX LP 5.20000% 17-01.03.47 | 250 000.00 | 237 557.29 | 0.02 |
| USD | NATWEST GROUP PLC 3.87500% 16-12.09.23 | 200 000.00 | 201 169.58 | 0.02 |
| USD | NEPTUNE ENERGY BONDCO PLC-REG-S 6.62500% 18-15.05.25 | 3 250 000.00 | 3 223 317.50 | 0.30 |
| USD | NIGERIA, FEDERAL REPUBLIC OF-REG-S 9.24800% 18-21.01.49 | 1 500 000.00 | 1 211 250.00 | 0.11 |
| USD | PAYPAL HOLDINGS INC 2.65000% 19-01.10.26 | 295 000.00 | 284 276.73 | 0.03 |
| USD | PEGASUS HAVA TASIMACILIGI AS-REG-S 9.25000% 21-30.04.26 | 1 315 000.00 | 1 247 606.25 | 0.12 |
| USD | PETROLEOS MEXICANOS 6.37500% 14-23.01.45 | 2 700 000.00 | 1 926 044.99 | 0.18 |
| USD | PETROLEOS MEXICANOS 6.84000% 20-23.01.30 | 530 000.00 | 474 350.00 | 0.04 |
| USD | PHILIP MORRIS INTERNATIONAL INC 1.50000% 20-01.05.25 | 490 000.00 | 466 058.78 | 0.04 |
| USD | PHILIPPINES, REPUBLIC OF THE 2.45700% 20-05.05.30 | 2 435 000.00 | 2 188 724.10 | 0.20 |
| USD | PLAINS ALL AMERICAN PIPELINE LP 3.80000% 20-15.09.30 | 495 000.00 | 456 410.63 | 0.04 |
| USD | RELIANCE INDUSTRIES LTD-REG-S 3.62500% 22-12.01.52 | 3 500 000.00 | 2 624 475.00 | 0.24 |
| USD | REYNOLDS AMERICAN INC 5.70000% 15-15.08.35 | 400 000.00 | 396 658.31 | 0.04 |
| USD | ROPER TECHNOLOGIES INC 2.00000% 20-30.06.30 | 930 000.00 | 776 137.18 | 0.07 |
| USD | SANTOS FINANCE LTD-REG-S 3.64900% 21-29.04.31 | 1 540 000.00 | 1 341 121.01 | 0.12 |
| USD | SAUDI ARABIAN OIL CO-REG-S 1.62500% 20-24.11.25 | 420 000.00 | 393 750.00 | 0.04 |
| USD | SHIMAO PROPERTY HOLDINGS LTD-REG-S 4.60000% 20-13.07.30 | 200 000.00 | 25 000.00 | 0.00 |
| USD | SHIMAO PROPERTY HOLDINGS LTD-REG-S 3.45000% 21-11.01.31 | 725 000.00 | 85 912.50 | 0.01 |
| USD | SHIMAO PROPERTY HOLDINGS LTD-REG-S 5.20000% 21-16.01.27 | 970 000.00 | 126 100.00 | 0.01 |
| USD | SOUTH AFRICA, REPUBLIC OF 4.87500% 16-14.04.26 | 500 000.00 | 492 437.50 | 0.05 |
| USD | SOUTHWEST AIRLINES CO 4.75000% 20-04.05.23 | 345 000.00 | 350 550.94 | 0.03 |
| USD | SOUTHWEST AIRLINES CO 5.12500% 20-15.06.27 | 490 000.00 | 510 692.30 | 0.05 |
| USD | SPRINT CORP 7.87500% 14-15.09.23 | 1 000 000.00 | 1 047 500.00 | 0.10 |
| USD | SUNAC CHINA HOLDINGS LTD-REG-S 7.00000% 20-09.07.25 | 875 000.00 | 141 146.25 | 0.01 |
| USD | TURKEY, REPUBLIC OF 6.87500% 06-17.03.36 | 2 680 000.00 | 2 196 427.50 | 0.20 |
| USD | UKRAINE, GOVERNMENT OF-REG-S 7.37500% 17-25.09.32 | 1 650 000.00 | 596 475.00 | 0.06 |
| USD | UKRAINE, GOVERNMENT OF-REG-S 7.25300% 20-15.03.33 | 2 000 000.00 | 723 000.00 | 0.07 |
| USD | UNITED RENTALS NORTH AMERICA INC 3.87500% 19-15.11.27 | 1 000 000.00 | 963 416.70 | 0.09 |
| USD | URUGUAY, REPUBLIC OF 4.12500% 12-20.11.45 | 2 300 000.00 | 2 229 993.75 | 0.21 |
| USD | VEB FINANCE PLC-REG-S LPN 5.94200% 13-21.11.23 | 500 000.00 | 10 000.00 | 0.00 |
| USD | VERIZON COMMUNICATIONS INC 3.37600% 18-15.02.25 | 700 000.00 | 707 085.82 | 0.07 |
| USD | VICI PROPERTIES LP 5.12500% 22-15.05.32 | 1 070 000.00 | 1 060 990.60 | 0.10 |
| USD | VMWARE INC 1.00000% 21-15.08.24 | 1 040 000.00 | 984 630.82 | 0.09 |
| USD | WALT DISNEY CO 1.75000% 19-30.08.24 | 990 000.00 | 967 906.83 | 0.09 |
| USD | WESTPAC BANKING CORP-SUB 4.42100% 19-24.07.39 | 325 000.00 | 304 460.94 | 0.03 |
| USD | YPF SA-REG-S 6.95000% 17-21.07.27 | 400 000.00 | 267 450.00 | 0.02 |
| USD | YPF SA-REG-S 7.00000% 17-15.12.47 | 230 000.00 | 125 925.00 | 0.01 |
| Total USD |  |  | 74 102 576.73 | 6.90 |
| Total Notes, fixed rate |  | 138 785 881.87 | 12.93 |
| Notes, zero coupon |  |  |  |
| USD |  |  |  |
| USD	ECUADOR, REPUBLIC OF-REG-S 0.00000% 20-31.07.30 | 105 089.00 | 57 687.29 | 0.01 |
| Total USD |  | 57 687.29 | 0.01 |
| Total Notes, zero coupon |  | 57 687.29 | 0.01 |
| Notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	BARCLAYS PLC-REG-S 0.577%VAR 21-09.08.29 | 3 235 000.00 | 2 954 797.80 | 0.27 |
| EUR	BPCE SA-REG-S-SUB 1.500%/VAR 21-13.01.42 | 2 600 000.00 | 2 491 879.61 | 0.23 |
| EUR	BRITISH AMERICAN TOBACCO PLC-REG-S -SUB 3.750%/VAR 21-PRP | 2 070 000.00 | 1 793 339.80 | 0.17 |
| EUR	CREDIT SUISSE GROUP-REG-S 2.125%/VAR 22-13.10.26 | 2 560 000.00 | 2 652 931.95 | 0.25 |
| EUR	CREDIT SUISSE GROUP-REG-S 2.875%/VAR 22-02.04.32 | 1 595 000.00 | 1 570 691.27 | 0.15 |
| EUR	DEUTSCHE BANK AG-REG-S-SUB 4.500%/VAR 21-PRP | 3 400 000.00 | 3 200 306.67 | 0.30 |
| EUR	ENI SPA-REG-S-SUB 3.375%/VAR 20-PRP | 375 000.00 | 354 597.68 | 0.03 |
| EUR	ITALY, REPUBLIC OF-144A-REG-S 2.350%/CPI LINKED 14-15.09.24 | 3 500 000.00 | 4 743 865.34 | 0.44 |
| EUR	RAKUTEN GROUP INC-REG-S-SUB 4.250%VAR 21-PRP | 2 210 000.00 | 1 898 441.90 | 0.18 |
| EUR	VOLKSWAGEN INTERNATIONAL FIN-REG-S-SUB 4.375%/VAR 22-PRP | 1 800 000.00 | 1 744 709.52 | 0.16 |
| EUR	WINTERSHALL DEA FINANCE 2BV-REG-S-SUB 2.498%/VAR 21-PRP | 1 900 000.00 | 1 660 401.93 | 0.15 |
| EUR	WINTERSHALL DEA FINANCE 2BV-REG-S-SUB 3.000%/VAR 21-PRP | 1 500 000.00 | 1 278 108.37 | 0.12 |
| Total EUR |  | 26 344 071.84 | 2.45 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Annual report and audited financial statements as of 31 May 2022
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  |  | Nominal | Unrealized gain | of net |
|  |  |  | (loss) on Futures/ | assets |
|  |  |  | Forward |  |
|  |  |  | Exchange Contracts/ |  |
|  |  |  | Swaps (Note 1) |  |
| USD |  |  |  |  |
| USD | ALLIANZ SE-REG-S-SUB 3.500%/VAR 20-PRP | 800 000.00 | 700 968.08 | 0.07 |
| USD | CORP FINANCIERA DE DESARROL-REG-S-SUB 5.250%/VAR 14-15.07.29 | 500 000.00 | 486 031.25 | 0.05 |
| USD | CREDIT SUISSE GROUP AG-REG-S-SUB 6.250%/VAR 14-PRP | 480 000.00 | 465 000.00 | 0.04 |
| USD | DEUTSCHE BANK AG/NEW YORK NY 2.222%/VAR 20-18.09.24 | 355 000.00 | 345 991.09 | 0.03 |
| USD | ELECTRICITE DE FRANCE SA-REG-S-SUB 5.625%/VAR 14-PRP | 450 000.00 | 439 785.00 | 0.04 |
| USD | JPMORGAN CHASE & CO 2.739%/VAR 19-15.10.30 | 540 000.00 | 488 072.68 | 0.05 |
| USD | JPMORGAN CHASE & CO-SUB 2.956%/VAR 20-13.05.31 | 985 000.00 | 878 986.60 | 0.08 |
| USD | PRUDENTIAL PLC-SUB-REG-S 2.950%/VAR 21-03.11.33 | 3 105 000.00 | 2 738 157.60 | 0.25 |
| USD | SOCIETE GENERAL SA-REG-S-SUB 7.375%/VAR 18-PRP | 2 000 000.00 | 2 015 194.46 | 0.19 |
| USD | STANDARD CHARTERED PLC-REG-S 3.885%/VAR 18-15.03.24 | 400 000.00 | 400 722.38 | 0.04 |
| USD | VODAFONE GROUP PLC-SUB 3.250%/VAR 21-04.06.81 | 960 000.00 | 862 768.13 | 0.08 |
| USD | WESTPAC BANKING CORP-SUB 4.110%/VAR 19-24.07.34 | 450 000.00 | 425 114.73 | 0.04 |
| Total USD |  |  | 10 246 792.00 | 0.96 |
| Total Notes, floating rate |  | 36 590 863.84 | 3.41 |
| Medium term notes, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	A.P. MOELLER-MAERSK-REG-S 1.75000% 18-16.03.26 | 100 000.00 | 106 791.84 | 0.01 |
| EUR	AEROPORTI DI ROMA SPA-REG-S 1.75000% 21-30.07.31 | 1 090 000.00 | 944 356.39 | 0.09 |
| EUR	AROUNDTOWN SA-REG-S 2.00000% 18-02.11.26 | 100 000.00 | 100 912.82 | 0.01 |
| EUR	BANCO DE SABADELL SA-REG-S-SUB 2.50000% 21-15.04.31 | 3 200 000.00 | 3 038 065.01 | 0.28 |
| EUR	CAIXABANK SA-REG-S 0.37500% 20-03.02.25 | 700 000.00 | 721 435.24 | 0.07 |
| EUR	CANAL DE ISABEL II GESTION SA-REG-S 1.68000% 15-26.02.25 | 200 000.00 | 212 404.93 | 0.02 |
| EUR	CELLNEX FINANCE CO SA-REG-S 1.50000% 21-08.06.28 | 2 500 000.00 | 2 252 029.95 | 0.21 |
| EUR	CEZ AS-REG-S 2.37500% 22-06.04.27 | 805 000.00 | 838 305.14 | 0.08 |
| EUR	CPI PROPERTY GROUP SA-REG-S 2.75000% 20-12.05.26 | 930 000.00 | 929 612.53 | 0.09 |
| EUR	CTP NV-REG-S 0.87500% 22-20.01.26 | 3 885 000.00 | 3 614 786.76 | 0.34 |
| EUR	DANSKE BANK AS-REG-S-SUB 1.50000% 20-02.09.30 | 285 000.00 | 283 916.49 | 0.03 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 2.00000% 21-14.07.24 | 1 000 000.00 | 1 048 025.30 | 0.10 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 2.87500% 21-16.05.27 | 4 500 000.00 | 4 246 045.07 | 0.40 |
| EUR	DNB BANK ASA-REG-S 0.05000% 19-14.11.23 | 1 200 000.00 | 1 268 749.94 | 0.12 |
| EUR	EDP FINANCE BV-REG-S 1.50000% 17-22.11.27 | 1 010 000.00 | 1 037 772.99 | 0.10 |
| EUR	ELECTRICITE DE FRANCE-REG-S 2.00000% 19-09.12.49 | 300 000.00 | 220 702.36 | 0.02 |
| EUR	ELENIA VERKKO OYJ-REG-S 0.37500% 20-06.02.27 | 445 000.00 | 432 242.30 | 0.04 |
| EUR	ELIA TRANSMISSION BELGIUM SA-REG-S 0.87500% 20-28.04.30 | 300 000.00 | 280 652.93 | 0.02 |
| EUR	ELIS SA-REG-S 4.12500% 22-24.05.27 | 1 100 000.00 | 1 184 219.74 | 0.11 |
| EUR	FORD MOTOR CREDIT CO LLC 3.02100% 19-06.03.24 | 110 000.00 | 116 983.18 | 0.01 |
| EUR	GLOBALWORTH REAL ESTATE INVEST-REG-S 3.00000% 18-29.03.25 | 200 000.00 | 206 255.79 | 0.02 |
| EUR	KBC GROUP NV-REG-S 1.12500% 19-25.01.24 | 200 000.00 | 214 174.41 | 0.02 |
| EUR	LINDE PLC-REG-S 1.00000% 22-31.03.27 | 1 000 000.00 | 1 028 329.29 | 0.09 |
| EUR	NASSA TOPCO AS-REG-S 2.87500% 17-06.04.24 | 1 400 000.00 | 1 492 251.25 | 0.14 |
| EUR	NEW YORK LIFE GLOBAL FUNDING-REG-S 0.25000% 20-23.01.27 | 1 265 000.00 | 1 247 629.51 | 0.11 |
| EUR	ORANO SA-REG-S 3.37500% 19-23.04.26 | 1 000 000.00 | 1 057 820.81 | 0.10 |
| EUR	P3 GROUP SARL-REG-S 0.87500% 22-26.01.26 | 2 240 000.00 | 2 121 170.26 | 0.20 |
| EUR	PPF ARENA 1 BV-REG-S 2.12500% 19-31.01.25 | 4 750 000.00 | 4 809 591.12 | 0.45 |
| EUR	REDEXIS GAS FINANCE BV-REG-S 1.87500% 15-27.04.27 | 400 000.00 | 408 139.39 | 0.04 |
| EUR	REN FINANCE B V-REG-S 2.50000% 15-12.02.25 | 600 000.00 | 654 653.73 | 0.06 |
| EUR	ROMANIA-REG-S 4.62500% 19-03.04.49 | 4 000 000.00 | 3 656 444.07 | 0.34 |
| EUR	RWE AG-REG-S 2.75000% 22-24.05.30 | 2 400 000.00 | 2 557 476.54 | 0.24 |
| EUR	TDC NET A/S-REG-S 5.05600% 22-31.05.28 | 1 130 000.00 | 1 223 973.40 | 0.11 |
| EUR	TRATON FINANCE LUXEMBOURG SA-REG-S 1.25000% 21-24.03.33 | 1 300 000.00 | 1 085 952.27 | 0.10 |
| EUR	VODAFONE GROUP PLC-REG-S 2.50000% 19-24.05.39 | 230 000.00 | 212 445.15 | 0.02 |
| EUR	VOLKSWAGEN FINANCIAL SERVICES AG-REG-S 1.50000% 19-01.10.24 | 230 000.00 | 244 982.10 | 0.02 |
| EUR	VONOVIA SE-REG-S 1.62500% 21-01.09.51 | 900 000.00 | 586 024.11 | 0.05 |
| EUR	ZF FINANCE GMBH-REG-S 3.75000% 20-21.09.28 | 1 800 000.00 | 1 694 287.71 | 0.16 |
| Total EUR |  | 47 379 611.82 | 4.42 |
| GBP |  |  |  |
| GBP	AA BOND CO LTD-REG-S 3.25000% 21-31.07.28 | 485 000.00 | 545 319.01 | 0.05 |
| GBP	CHINA DEVELOPMENT BANK-REG-S 1.25000% 20-21.01.23 | 880 000.00 | 1 101 001.10 | 0.10 |
| GBP	CPI PROPERTY GROUP SA-REG-S 2.75000% 20-22.01.28 | 160 000.00 | 176 290.77 | 0.02 |
| GBP	LLOYDS BANKING GROUP PLC 2.25000% 17-16.10.24 | 100 000.00 | 122 771.12 | 0.01 |
| Total GBP |  | 1 945 382.00 | 0.18 |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 3.87500% 15-01.08.25 | 1 000 000.00 | 1 016 966.60 | 0.09 |
| USD	EGYPT, REPUBLIC OF-REG-S 8.70020% 19-01.03.49 | 2 000 000.00 | 1 465 000.00 | 0.14 |
| USD	GC TREASURY CENTER CO LTD-REG-S 4.40000% 22-30.03.32 | 1 840 000.00 | 1 746 932.80 | 0.16 |
| USD	GC TREASURY CENTER CO LTD-REG-S 5.20000% 22-30.03.52 | 645 000.00 | 591 129.60 | 0.05 |
| USD	INDIAN RAILWAY FINANCE CORP LTD-REG-S 2.80000% 21-10.02.31 | 2 725 000.00 | 2 259 433.75 | 0.21 |
| USD	KAZAKHSTAN, REPUBLIC OF-REG-S 5.12500% 15-21.07.25 | 2 000 000.00 | 2 088 500.00 | 0.19 |
| USD	MEXICO, UNITED STATES OF 4.75000% 12-08.03.44 | 1 800 000.00 | 1 619 100.00 | 0.15 |
| USD	MIRVAC GROUP FINANCE LTD-REG-S 3.62500% 17-18.03.27 | 200 000.00 | 195 722.00 | 0.02 |
| USD	MONGOLIA,GOVERNMENT OF-REG-S 8.75000% 17-09.03.24 | 2 190 000.00 | 2 245 160.62 | 0.21 |
| USD	MORGAN STANLEY-SUB 4.35000% 14-08.09.26 | 1 000 000.00 | 1 012 082.70 | 0.09 |
| USD	PERTAMINA PERSERO PT-REG-S 4.70000% 19-30.07.49 | 390 000.00 | 350 951.25 | 0.03 |
| USD	PHOENIX GROUP HOLDINGS PLC-REG-S-SUB 5.37500% 17-06.07.27 | 600 000.00 | 597 750.00 | 0.06 |
| USD	QTEL INTERNATIONAL FINANCE LTD-REG-S 2.62500% 21-08.04.31 | 795 000.00 | 701 587.50 | 0.07 |
| USD	REC LTD-REG-S 2.25000% 21-01.09.26 | 2 960 000.00 | 2 673 804.99 | 0.25 |
| USD	ROMANIA-REG-S 6.12500% 14-22.01.44 | 700 000.00 | 709 537.51 | 0.07 |
| USD	SAUDI ARABIAN OIL CO-REG-S 3.50000% 19-16.04.29 | 935 000.00 | 913 869.00 | 0.09 |
| Total USD |  | 20 187 528.32 | 1.88 |
| Total Medium term notes, fixed rate |  | 69 512 522.14 | 6.48 |
| Medium term notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	AXA SA-REG-S-SUB 3.250%/VAR 18-28.05.49 | 120 000.00 | 123 919.89 | 0.01 |
| EUR	BANCO DE SABADELL SA-REG-S 2.625%/VAR 22-24.03.26 | 600 000.00 | 626 862.50 | 0.06 |
| EUR	BANK OF IRELAND GROUP PLC-REG-S 1.875%/VAR 22-05.06.26 | 985 000.00 | 1 029 213.24 | 0.10 |
| EUR	BARCLAYS PLC-REG-S 3.375%/VAR 20-02.04.25 | 540 000.00 | 590 872.88 | 0.05 |

UBS (Lux) Bond SICAV – Global Dynamic (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) |  |
|  |  |  |  |  |
| EUR | CREDIT SUISSE GROUP AG-REG-S 0.650%/VAR 20-14.01.28 | 900 000.00 | 846 665.65 | 0.08 |
| EUR | DEUTSCHE BANK AG-REG-S 1.000%/VAR 20-19.11.25 | 1 300 000.00 | 1 339 382.16 | 0.12 |
| EUR | DEUTSCHE BANK AG-REG-S 1.750%/VAR 20-19.11.30 | 600 000.00 | 562 964.73 | 0.05 |
| EUR | DEUTSCHE BANK AG-REG-S 4.000%/VAR 22-24.06.32 | 900 000.00 | 924 942.96 | 0.09 |
| EUR | IBERDROLA INTERNATIONAL BV-REG-S-SUB 2.625%/VAR 18-PRP | 100 000.00 | 106 742.56 | 0.01 |
| EUR | NATWEST GROUP PLC-REG-S 2.000%/VAR 18-04.03.25 | 600 000.00 | 643 782.57 | 0.06 |
| EUR | NATWEST GROUP PLC-REG-S-SUB 1.043%/VAR 21-14.09.32 | 1 475 000.00 | 1 358 498.24 | 0.13 |
| EUR | TOTAL SE-REG-S-SUB 2.625%/VAR 15-PRP | 4 260 000.00 | 4 462 123.48 | 0.42 |
| Total EUR |  |  | 12 615 970.86 | 1.18 |
| GBP |  |  |  |  |
| GBP | ELECTRICITE DE FRANCE SA-REG-S-SUB 6.000%/VAR 13-PRP | 100 000.00 | 121 132.22 | 0.01 |
| Total GBP |  |  | 121 132.22 | 0.01 |
| USD |  |  |  |  |
| USD | HSBC BANK PLC-SUB 6M LIBOR+25BP 85-PRP | 1 000 000.00 | 790 000.00 | 0.07 |
| USD | MORGAN STANLEY 3.622%/VAR 20-01.04.31 | 500 000.00 | 476 254.81 | 0.04 |
| USD | WELLS FARGO & CO 3.526%/VAR 22-24.03.28 | 2 945 000.00 | 2 867 140.38 | 0.27 |
| Total USD |  |  | 4 133 395.19 | 0.38 |
| Total Medium term notes, floating rate |  | 16 870 498.27 | 1.57 |
| Bonds, fixed rate |  |  |  |
| CNY |  |  |  |
| CNY	CHINA DEVELOPMENT BANK CORP 3.80000% 16-25.01.36 | 80 000 000.00 | 12 708 385.32 | 1.18 |
| Total CNY |  | 12 708 385.32 | 1.18 |
| EUR |  |  |  |
| EUR	ABBOTT IRELAND FINCING DAC-REG-S 0.87500% 18-27.09.23 | 165 000.00 | 177 094.21 | 0.02 |
| EUR	ADLER REAL ESTATE AG-REG-S 1.87500% 18-27.04.23 | 800 000.00 | 685 600.00 | 0.06 |
| EUR	ADO PROPERTIES SA-REG-S 1.50000% 17-26.07.24 | 1 500 000.00 | 972 159.37 | 0.09 |
| EUR	ALSTRIA OFFICE REIT-AG-REG-S 1.50000% 20-23.06.26 | 600 000.00 | 563 393.52 | 0.05 |
| EUR	AUTOSTRADE PER L’ITALIA SPA REG-S 2.00000% 21-15.01.30 | 4 280 000.00 | 3 890 330.08 | 0.36 |
| EUR	BPCE SA-REG-S 0.25000% 20-15.01.26 | 800 000.00 | 808 552.07 | 0.08 |
| EUR	FINNAIR OYJ-REG-S 4.25000% 21-19.05.25 | 1 550 000.00 | 1 448 731.71 | 0.14 |
| EUR	GREECE, HELLENIC REPUBLIC OF-144A-REG-S 1.87500% 19-23.07.26 | 3 235 000.00 | 3 396 183.88 | 0.32 |
| EUR	INTRUM JUSTITIA AB-REG-S 3.12500% 17-15.07.24 | 570 000.00 | 587 201.61 | 0.06 |
| EUR	ITALY, REPUBLIC OF-BTP-144A-REG-S 3.250% 14-01.09.46 | 7 500 000.00 | 7 895 444.59 | 0.74 |
| EUR	ITALY, REPUBLIC OF-BTP 1.60000% 16-01.06.26 | 6 000 000.00 | 6 329 994.83 | 0.59 |
| EUR	ITALY, REPUBLIC OF-BTP-144A-REG-S 2.80000% 16-01.03.67 | 1 800 000.00 | 1 624 056.99 | 0.15 |
| EUR	ITALY, REPUBLIC OF-BTP-REG-S 0.95000% 20-01.08.30 | 11 000 000.00 | 10 130 772.68 | 0.94 |
| EUR	MAPFRE SA-REG-S-SUB 2.87500% 22-13.04.30 | 1 300 000.00 | 1 297 647.97 | 0.12 |
| EUR	MATTERHORN TELECOM SA-REG-S 3.12500% 19-15.09.26 | 1 220 000.00 | 1 202 841.49 | 0.11 |
| EUR	MPT OPERATING PARTNERSHIP LP/FIN CORP 3.32500% 17-24.03.25 | 800 000.00 | 837 972.88 | 0.08 |
| EUR	SLOVENIA, REPUBLIC OF-REG-S 1.50000% 15-25.03.35 | 6 000 000.00 | 5 843 908.71 | 0.54 |
| EUR	SLOVENIA, REPUBLIC OF-REG-S 3.12500% 15-07.08.45 | 7 000 000.00 | 8 417 271.88 | 0.78 |
| EUR	SLOVENIA, REPUBLIC OF-REG-S 0.48750% 20-20.10.50 | 8 433 000.00 | 5 331 128.57 | 0.50 |
| EUR	SPAIN, KINGDOM OF-144A-REG-S 2.15000%15-31.10.25 | 14 300 000.00 | 15 824 888.07 | 1.47 |
| EUR	SPAIN, KINGDOM OF-144A-REG-S 1.40000% 18-30.07.28 | 6 360 000.00 | 6 710 980.01 | 0.63 |
| EUR	SPAIN, KINGDOM OF-144A-REG-S 1.90000% 22-31.10.52 | 8 640 000.00 | 7 311 624.95 | 0.68 |
| EUR	SUMMER BIDCO BV-REG-S 9.00000% 19-15.11.25 | 1 250 000.00 | 1 299 156.61 | 0.12 |
| EUR	TAURON POLSKA ENERGIA SA-REG-S 2.37500% 17-05.07.27 | 1 000 000.00 | 933 192.66 | 0.09 |
| EUR	UMG GROUPE VYV 1.62500% 19-02.07.29 | 1 100 000.00 | 1 089 024.42 | 0.10 |
| EUR	UNITED GROUP BV-REG-S 3.12500% 20-15.02.26 | 2 160 000.00 | 1 977 264.58 | 0.18 |
| EUR	VOLKSWAGEN INTERNATIONAL FIN NV-REG-S 1.12500% 17-02.10.23 | 200 000.00 | 214 033.61 | 0.02 |
| Total EUR |  | 96 800 451.95 | 9.02 |
| GBP |  |  |  |
| GBP	BELLIS ACQUISITION CO PLC-REG-S 3.25000% 21-16.02.26 | 1 475 000.00 | 1 570 977.43 | 0.15 |
| GBP	BERKELEY GROUP PLC/THE-REG-S 2.50000% 21-11.08.31 | 835 000.00 | 835 416.86 | 0.08 |
| GBP	BUPA FINANCE PLC-REG-S-SUB 5.00000% 13-25.04.23 | 16 000.00 | 20 486.63 | 0.00 |
| GBP	DIGNITY FINANCE PLC-REG-S 4.69560% 14-31.12.49 | 151 000.00 | 182 715.92 | 0.02 |
| GBP	JERROLD FINCO PLC-REG-S 5.25000% 21-15.01.27 | 2 315 000.00 | 2 720 656.87 | 0.25 |
| GBP	PREMIER FOODS FINANCE PLC-REG-S 3.50000% 21-15.10.26 | 1 410 000.00 | 1 612 683.92 | 0.15 |
| GBP	ROTHESAY LIFE PLC-REG-S-SUB 3.37500% 19-12.07.26 | 845 000.00 | 1 032 225.35 | 0.10 |
| GBP	SCOTTISH WIDOWS PLC-REG-S-SUB 5.50000% 13-16.06.23 | 200 000.00 | 257 415.39 | 0.02 |
| GBP	UNITED KINGDOM OF GREAT BRITAIN-REG-S 1.50000% 16-22.07.47 | 3 000 000.00 | 3 121 839.22 | 0.29 |
| GBP	UNITED KINGDOM OF GREAT BRITAIN-REG-S 0.87500% 19-22.10.29 | 7 500 000.00 | 8 804 978.83 | 0.82 |
| GBP	VERY GROUP FUNDING PLC/THE-REG-S 6.50000% 21-01.08.26 | 2 650 000.00 | 2 799 750.15 | 0.26 |
| Total GBP |  | 22 959 146.57 | 2.14 |
| MXN |  |  |  |
| MXN	MEXICO, UNITED MEXICAN STATES 7.75000% 11-13.11.42 | 6 921 700.00 | 31 567 067.21 | 2.94 |
| Total MXN |  | 31 567 067.21 | 2.94 |
| NZD |  |  |  |
| NZD	NEW ZEALAND 1.50000% 19-15.05.31 | 34 000 000.00 | 18 628 535.59 | 1.74 |
| NZD	NEW ZEALAND 1.75000% 20-15.05.41 | 5 000 000.00 | 2 300 782.77 | 0.21 |
| NZD	NEW ZEALAND 4.50000% 14-15.04.27 | 200 000.00 | 136 147.49 | 0.01 |
| NZD	NEW ZEALAND-REG-S 2.75000% 16-15.04.25 | 200 000.00 | 127 754.14 | 0.01 |
| NZD	NEW ZEALAND-REG-S 2.75000% 16-15.04.37 | 46 800 000.00 | 26 709 715.30 | 2.49 |
| NZD	NEW ZEALAND-REG-S 5.50000% 11-15.04.23 | 200 000.00 | 132 986.48 | 0.01 |
| Total NZD |  | 48 035 921.77 | 4.47 |
| USD |  |  |  |
| USD	AMERICAN AIRLINES PASS THROUGH TRUST 4.37500% 14-01.10.22 | 605 000.00 | 212 450.58 | 0.02 |
| USD	BALTIMORE GAS & ELECTRIC CO 3.50000% 16-15.08.46 | 700 000.00 | 592 882.01 | 0.06 |
| USD	BRAZIL, FEDERATIVE REPUBLIC OF 7.12500% 06-20.01.37 | 1 500 000.00 | 1 622 156.25 | 0.15 |
| USD	CITIGROUP INC 3.87500% 13-25.10.23 | 600 000.00 | 612 329.99 | 0.06 |
| USD	COLOMBIA, REPUBLIC OF 6.12500% 09-18.01.41 | 1 900 000.00 | 1 721 043.75 | 0.16 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 2.70000% 21-12.07.26 | 920 000.00 | 515 200.00 | 0.05 |
| USD	HCA INC 5.37500% 15-01.02.25 | 1 000 000.00 | 1 033 690.00 | 0.10 |
| USD	KAZAKHSTAN, REPUBLIC OF-REG-S 4.87500% 14-14-10.44 | 1 200 000.00 | 1 083 225.00 | 0.10 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Annual report and audited financial statements as of 31 May 2022
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | MALAYSIA WAKALA SUKUK BHD-REG-S 3.07500% 21-28.04.51 | 1 035 000.00 | 877 356.57 | 0.08 |
| USD | MEXICO CITY AIRPORT TRUST-REG-S 5.50000% 17-31.07.47 | 650 000.00 | 490 750.00 | 0.05 |
| USD | MOROCCO, KINGDOM OF THE-REG-S 5.50000% 12-11.12.42 | 3 000 000.00 | 2 533 687.50 | 0.24 |
| USD | PACIFIC GAS & ELECTRIC CO 2.10000% 20-01.08.27 | 535 000.00 | 465 217.57 | 0.04 |
| USD | PACIFIC GAS & ELECTRIC CO 2.50000% 20-01.02.31 | 415 000.00 | 330 850.40 | 0.03 |
| USD | PERU, REPUBLIC OF 2.78300% 20-23.01.31 | 3 320 000.00 | 2 932 597.50 | 0.27 |
| USD | PETROLEOS DE VENEZUE-REG-S *DEFAULTED* 6.00000% 14-16.05.24 | 600 000.00 | 30 000.00 | 0.00 |
| USD | PHILLIPS 66 4.65000% 14-15.11.34 | 250 000.00 | 251 543.90 | 0.02 |
| USD | REYNOLDS AMERICAN INC 4.45000% 15-12.06.25 | 150 000.00 | 151 922.38 | 0.02 |
| USD | SOUTH AFRICA, REPUBLIC OF 6.30000% 18-22.06.48 | 500 000.00 | 436 500.00 | 0.04 |
| USD | SOUTHERN CALIFORNIA EDISON CO 2.85000% 19-01.08.29 | 500 000.00 | 450 078.96 | 0.04 |
| USD | SUNAC CHINA HOLDINGS LTD-REG-S 6.50000% 20-10.01.25 | 910 000.00 | 145 372.50 | 0.01 |
| USD | TURKEY, REPUBLIC OF 6.62500% 14-17.02.45 | 700 000.00 | 528 412.50 | 0.05 |
| Total USD |  |  | 17 017 267.36 | 1.59 |
| Total Bonds, fixed rate |  | 229 088 240.18 | 21.34 |
| Bonds, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	ABANCA CORP BANCARIA SA-REG-S-SUB 6.125%/VAR 19-18.01.29 | 1 700 000.00 | 1 866 653.13 | 0.17 |
| EUR	AG INSURANCE SA/NV-REG-S-SUB 3.500%/VAR 15-30.06.47 | 300 000.00 | 317 454.22 | 0.03 |
| EUR	BANCO DE SABADELL SA-REG-S-SUB 5.000%/VAR 21-PRP | 2 400 000.00 | 2 186 810.34 | 0.20 |
| EUR	BP CAPITAL MARKETS PLC-REG-S 3.250%/VAR 20-PRP | 490 000.00 | 509 154.62 | 0.05 |
| EUR	BP CAPITAL MARKETS PLC-REG-S-SUB 3.625%/VAR 20-PRP | 390 000.00 | 388 542.37 | 0.04 |
| EUR	ELM BV-REG-S-SUB 2.600%/VAR 15-PRP | 290 000.00 | 300 954.30 | 0.03 |
| EUR	HOLCIM FINANCE LUXEMBOURG SA-REG-S-SUB 3.000%/VAR 19-PRP | 200 000.00 | 211 430.04 | 0.02 |
| EUR	RABOBANK NEDERLAND NV-REG-S-SUB 3.250%/VAR 19-PRP | 1 000 000.00 | 952 341.25 | 0.09 |
| EUR	SES SA-REG-S-SUB 2.875%/VAR 21-PRP | 3 585 000.00 | 3 451 587.58 | 0.32 |
| EUR	UNIBAIL-RODAMCO SE-REG-S-SUB 2.125%/VAR 18-PRP | 200 000.00 | 204 030.27 | 0.02 |
| Total EUR |  | 10 388 958.12 | 0.97 |
| GBP |  |  |  |
| GBP	BARCLAYS PLC-REG-S-SUB 7.250%/VAR 17-PRP | 200 000.00 | 254 265.53 | 0.02 |
| GBP	CYBG PLC-REG-S-SUB 8.000%/VAR 16-PRP | 2 610 000.00 | 3 289 843.51 | 0.31 |
| GBP	M&G PLC-REG-S-SUB 5.625%/VAR 18-20.10.51 | 150 000.00 | 193 003.23 | 0.02 |
| GBP	SANTANDER UK GROUP HOLD PLC-REG-S-SUB 6.750%/VAR 17-PRP | 200 000.00 | 253 572.36 | 0.02 |
| Total GBP |  | 3 990 684.63 | 0.37 |
| NZD |  |  |  |
| NZD	NEW ZEALAND-REG-S 2.500%/CPI LINKED 14-20.09.35 | 4 000 000.00 | 3 242 303.84 | 0.30 |
| Total NZD |  | 3 242 303.84 | 0.30 |
| USD |  |  |  |
| USD	BP CAPITAL MARKETS PLC-SUB 4.875%/VAR 20-PRP | 485 000.00 | 453 518.97 | 0.04 |
| USD	CREDIT SUISSE GROUP AG-REG-S-SUB 7.500%/VAR 18-PRP | 2 880 000.00 | 2 844 923.33 | 0.26 |
| USD	QBE INSURANCE GROUP LTD-REG-S-SUB 6.750%/VAR 14-02.12.44 | 380 000.00 | 390 197.98 | 0.04 |
| USD	SCOR SE-REG-S-SUB 5.250%/VAR 18-PRP | 400 000.00 | 347 500.00 | 0.03 |
| USD	WESTPAC BANKING CORP-SUB 5.000%/VAR 17-PRP | 200 000.00 | 186 553.16 | 0.02 |
| Total USD |  | 4 222 693.44 | 0.39 |
| Total Bonds, floating rate |  | 21 844 640.03 | 2.03 |
| Treasury notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 3.12500% 14-15.08.44 | 9 700 000.00 | 9 354 437.50 | 0.87 |
| USD	AMERICA, UNITED STATES OF 3.00000% 17-15.05.47 | 12 000 000.00 | 11 400 000.00 | 1.06 |
| USD	AMERICA, UNITED STATES OF 2.87500% 19-15.05.49 | 26 000 000.00 | 24 521 250.00 | 2.29 |
| USD	AMERICA, UNITED STATES OF 1.87500% 17-31.07.22 | 675 000.00 | 676 318.34 | 0.06 |
| USD	AMERICA, UNITED STATES OF 2.87500% 18-30.04.25 | 15 000 000.00 | 15 064 453.50 | 1.40 |
| USD	AMERICA, UNITED STATES OF 2.00000% 13-15.02.23 | 1 000 000.00 | 1 001 015.60 | 0.09 |
| USD	AMERICA, UNITED STATES OF 1.62500% 19-30.11.26 | 40 000 000.00 | 37 996 876.00 | 3.54 |
| USD	AMERICA, UNITED STATES OF 0.62500% 20-15.05.30 | 16 000 000.00 | 13 487 500.81 | 1.26 |
| USD	AMERICA, UNITED STATES OF 0.50000% 20-30.06.27 | 39 500 000.00 | 35 145 741.21 | 3.28 |
| USD	AMERICA, UNITED STATES OF 0.62500% 20-15.08.30 | 12 425 000.00 | 10 410 790.71 | 0.97 |
| USD	AMERICA, UNITED STATES OF 0.50000% 20-31.08.27 | 20 000 000.00 | 17 725 000.00 | 1.65 |
| USD	AMERICA, UNITED STATES OF TB 0.12500% 21-31.01.23 | 13 000 000.00 | 12 859 844.40 | 1.20 |
| Total USD |  | 189 643 228.07 | 17.67 |
| Total Treasury notes, fixed rate |  | 189 643 228.07 | 17.67 |
| Treasury notes, floating rate |  |  |  |
| BRL |  |  |  |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF 6.000%/IPCA LINKD 10-15.08.50 | 1 050.00 | 894 255.72 | 0.08 |
| Total BRL |  | 894 255.72 | 0.08 |
| Total Treasury notes, floating rate |  | 894 255.72 | 0.08 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 703 287 817.41 | 65.52 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Asset Backed Securities, fixed rate |  |  |  |
| USD |  |  |  |
| USD	DRIVE AUTO RECEIVABLES TRUST 4.30000% 18-15.04.26 | 1 000 000.00 | 893 337.88 | 0.08 |
| USD	DT AUTO OWNER TRUST-144A 4.19000% 18-15.07.24 | 1 000 000.00 | 418 192.03 | 0.04 |
| Total USD |  | 1 311 529.91 | 0.12 |
| Total Asset Backed Securities, fixed rate |  | 1 311 529.91 | 0.12 |

UBS (Lux) Bond SICAV – Global Dynamic (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) |  |

Asset Backed Securities, floating rate
| USD |  |
| --- | --- |
| USD | SOFI PROFESSIONA LOAN PROGRAM LLC-144A VAR 17-26.03.40 | 850 000.00 | 842 189.44 | 0.08 |
| Total USD |  |  | 842 189.44 | 0.08 |
| Total Asset Backed Securities, floating rate |  | 842 189.44 | 0.08 |
| Mortgage Backed Securities, fixed rate |  |  |  |
| USD |  |  |  |
| USD	BANK 2018-BNK14-SUB 4.23100% 18-01.09.60 | 900 000.00 | 907 858.53 | 0.09 |
| USD	BANK BNK-SUB 4.40700% 18-01.11.61 | 1 850 000.00 | 1 884 169.87 | 0.18 |
| USD	BENCHMARK MORTGAGE TRUST 3.94360% 18-01.07.51 | 1 350 000.00 | 1 330 848.50 | 0.12 |
| USD	BENCHMARK MORTGAGE TRUST 4.44100% 18-01.10.51 | 1 500 000.00 | 1 500 332.25 | 0.14 |
| USD	BENCHMARK MORTGAGE TRUST-SUB 4.51000% 18-01.05.53 | 2 000 000.00 | 2 047 379.40 | 0.19 |
| USD	BENCHMARK MORTGAGE TRUST-SUB 3.97900% 19-01.03.62 | 1 350 000.00 | 1 304 526.33 | 0.12 |
| USD	BWAY 2013-1515 MORTGAGE TRUST-144A 3.44620% 21-10.03.33 | 1 300 000.00 | 1 227 927.48 | 0.12 |
| USD	CITIGROUP COMMERCIAL MORTGAGE TRUST 3.96300% 18-01.06.51 | 1 000 000.00 | 899 325.91 | 0.08 |
| USD	CITIGROUP COMMERCIAL MORTGAGE TRUST 4.22800% 18-01.06.51 | 2 775 000.00 | 2 786 085.85 | 0.26 |
| USD	CITIGROUP COMMERCIAL MORTGAGE 3.36600% 16-01.11.49 | 1 500 000.00 | 1 441 012.95 | 0.13 |
| USD	COMM 2015-CCRE22 MORTGAGE TRUST 3.92600% 15-01.03.48 | 2 000 000.00 | 1 963 319.00 | 0.18 |
| USD	COMM MORTGAGE TRUST-SUB 4.22800% 18-01.05.51 | 2 500 000.00 | 2 513 949.00 | 0.23 |
| USD	CSAIL COMMERCIAL MORTGAGE TRUST-SUB 4.42160% 18-01.11.51 | 1 490 000.00 | 1 496 616.20 | 0.14 |
| USD	HUDSON YARDS 2016-10HY MORTGAGE-144A 2.83500% 16-01.08.38 | 2 950 000.00 | 2 788 534.70 | 0.26 |
| USD	JPMDB COMMERCIAL MORTGAGE TRT 4.42100% 18-01.06.51 | 1 150 000.00 | 1 134 122.53 | 0.11 |
| USD	MORGAN STANLEY BOA MERR LYH TRT 15-C24 3.73200% 15-01.05.48 | 800 000.00 | 793 930.00 | 0.07 |
| USD	MORGAN STANLEY CAPITAL INC-SUB 3.33000% 17-01.12.50 | 450 000.00 | 430 372.49 | 0.04 |
| USD	MORGAN STANLEY CAPITAL I TRUST-SUB 4.31000% 18-01.12.51 | 1 355 000.00 | 1 357 581.14 | 0.13 |
| USD	MSBAM LYNCH TRUST-SUB 3.99400% 16-01.12.49 | 600 000.00 | 584 317.68 | 0.06 |
| USD	WELLS FARGO COMMERCIAL MORTGAGE TRUST 4.21200% 18-01.05.51 | 1 400 000.00 | 1 410 132.64 | 0.13 |
| Total USD |  | 29 802 342.45 | 2.78 |
| Total Mortgage Backed Securities, fixed rate |  | 29 802 342.45 | 2.78 |
| Mortgage Backed Securities, floating rate |  |  |  |
| USD |  |  |  |
| USD	AVENTURA MALL TRUST-144A FLR 18-01.07.40 | 2 060 000.00 | 2 015 632.55 | 0.19 |
| USD	BAMLL COMMERCIAL MORT SET-144A 1M LIBOR+135BP 18-15.09.34 | 1 575 000.00 | 1 511 862.82 | 0.14 |
| USD	BAMLL COMMERCIAL MORTGAGE-144A VAR 15-01.04.33 | 2 650 000.00 | 2 493 475.10 | 0.23 |
| USD	BANK 2017-BNK9 VAR 17-01.11.54 | 1 500 000.00 | 1 455 975.75 | 0.14 |
| USD	BANK-SUB FLR 18-01.02.61 | 895 000.00 | 826 499.30 | 0.08 |
| USD	BBCMS TRUST CBM-144A 1M LIBOR+119.1098BP 18-15.07.37 | 1 650 000.00 | 1 597 722.06 | 0.15 |
| USD	BENCHMARK 2018-B2 MORTGAGE TRUST-SUB FLR 18-01.02.51 | 1 400 000.00 | 1 360 300.20 | 0.13 |
| USD	BENCHMARK MORTGAGE TRUST-SUB FLR 18-01.10.51 | 1 500 000.00 | 1 479 121.50 | 0.14 |
| USD	BENCHMARK MORTGAGE TRUST-SUB FLR 18-01.10.51 | 1 950 000.00 | 1 827 363.72 | 0.17 |
| USD	BENCHMARK MORTGAGE TRUST FLR 18-01.01.52 | 2 000 000.00 | 1 997 558.20 | 0.19 |
| USD	BX TRUST-144A 1M LIBOR+80BP 18-15.05.35 | 1 300 000.00 | 1 266 654.87 | 0.12 |
| USD	BX TRUST-144A 1M LIBOR+122BP 18-15.05.35 | 2 000 000.00 | 1 939 888.60 | 0.18 |
| USD	CAMB COMM MORTGAGE TRUST-144A-SUB 1M LIBOR+145BP 19-15.12.37 | 500 000.00 | 486 879.10 | 0.04 |
| USD	CAMB COMM MORTGAGE TRUST-144A-SUB 1M LIBOR+175BP 19-15.12.37 | 1 620 000.00 | 1 573 270.45 | 0.15 |
| USD	CD MORTGAGE TRUST FLR 17-01.11.50 | 2 220 000.00 | 2 119 476.62 | 0.20 |
| USD	CSAIL 2015-C4 COMMERCIAL MORTGAGE TRUST-SUB VAR 15-01.11.48 | 500 000.00 | 479 472.75 | 0.04 |
| USD	GS MORTGAGE SECUR CORPII 4.560%/VAR 18-01.07.51 | 1 925 000.00 | 1 833 687.63 | 0.17 |
| USD	GS MORTGAGE SECURITIES CORP II 4.155%/VAR 18-01.07.51 | 330 000.00 | 333 137.77 | 0.03 |
| USD	GS MORTGAGE SECURITIES TRUST 4.047%/VAR 17-01.03.50 | 3 000 000.00 | 2 889 084.00 | 0.27 |
| USD	GS MORTGAGE SECURITIES TRUST-144A VAR 17-01.01.43 | 1 950 000.00 | 1 853 695.54 | 0.17 |
| USD	JP MORGAN CHASE MORTGAGE SECURITIES-144A-SUB FLR 18-01.01.31 | 2 045 000.00 | 2 031 446.56 | 0.19 |
| USD	JP MORGAN CHASE MORTGAGE SECURITIES-144A-SUB FLR 18-01.01.31 | 2 000 000.00 | 1 981 137.20 | 0.18 |
| USD	JPMCC COMMERCIAL MORTGAGE SEC TRUST VAR 17-01.09.50 | 3 200 000.00 | 2 932 542.40 | 0.27 |
| USD	JPMDB COMRCIAL MOTGE SECURTIES TRST 3.985%/VAR 17-01.10.50 | 2 000 000.00 | 1 922 544.60 | 0.18 |
| USD	MAD MORTGAGE TRUST-144A 2.975%/VAR 17-01.08.34 | 1 500 000.00 | 1 459 247.10 | 0.14 |
| USD	MAD MORTGAGE TRUST-144A 3.478%/VAR 17-01.08.34 | 1 500 000.00 | 1 437 351.60 | 0.13 |
| USD	MAD MORTGAGE TRUST-144A 3.599%/VAR 17-01.08.34 | 1 000 000.00 | 955 117.50 | 0.09 |
| USD	WELLS FARGO COMMERCIAL MORTGAGE FLR 17-01.12.50 | 1 400 000.00 | 1 341 396.00 | 0.12 |
| Total USD |  | 45 401 541.49 | 4.23 |
| Total Mortgage Backed Securities, floating rate |  | 45 401 541.49 | 4.23 |
| Notes, fixed rate |  |  |  |
| CAD |  |  |  |
| CAD	ONTARIO, PROVINCE OF 2.70000% 19-02.06.29 | 6 000 000.00 | 4 518 739.78 | 0.42 |
| Total CAD |  | 4 518 739.78 | 0.42 |
| USD |  |  |  |
| USD	AKER BP ASA-144A 3.00000% 20-15.01.25 | 565 000.00 | 553 480.72 | 0.05 |
| USD	AKER BP ASA-144A 4.00000% 20-15.01.31 | 525 000.00 | 492 518.03 | 0.05 |
| USD	AVOLON HOLDINGS FUNDING LTD-144A 2.12500% 21-21.02.26 | 730 000.00 | 653 788.00 | 0.06 |
| USD	BNP PARIBAS-144A 4.40000% 18-14.08.28 | 200 000.00 | 196 930.35 | 0.02 |
| USD	BRAZIL MINAS SPE-REG-S 5.33300% 13-15.02.28 | 200 000.00 | 120 172.50 | 0.01 |
| USD	BROADCOM INC 3.15000% 20-15.11.25 | 233 000.00 | 226 208.62 | 0.02 |
| USD	BROADCOM INC-144A 2.60000% 21-15.02.33 | 3 205 000.00 | 2 574 585.50 | 0.24 |
| USD	BROADCOM INC-144A 3.41900% 21-15.04.33 | 767 000.00 | 660 331.42 | 0.06 |
| USD	CAMERON LNG LLC-144A 3.30200% 19-15.01.35 | 340 000.00 | 303 901.86 | 0.03 |
| USD	CCO HOLDINGS LLC/CAPITAL CORP-144A 5.50000% 16-01.05.26 | 497 000.00 | 497 447.30 | 0.05 |
| USD	CHEVRON PHILLIPS CHEMICAL CO LLC-144A 5.12500% 20-01.04.25 | 460 000.00 | 479 328.18 | 0.04 |
| USD	COLONIAL ENTERPRISES INC-144A 3.25000% 20-15.05.30 | 470 000.00 | 438 832.32 | 0.04 |
| USD	DELL INTERNATIONAL LLC / EMC CORP 5.30000% 21-01.10.29 | 355 000.00 | 360 573.62 | 0.03 |
| USD	GLENCORE FUNDING LLC-144A 4.87500% 19-12.03.29 | 500 000.00 | 501 785.16 | 0.05 |
| USD	GRAPHIC PACKAGING INTERNATIONL INC-144A 3.50000% 20-15.03.28 | 1 000 000.00 | 928 890.00 | 0.09 |
| USD	INFOR INC-144A 1.75000% 20-15.07.25 | 355 000.00 | 331 960.01 | 0.03 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Annual report and audited financial statements as of 31 May 2022
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | LUNDIN ENERGY FINANCE BV-144A 2.00000% 21-15.07.26 | 365 000.00 | 332 038.88 | 0.03 |
| USD | MPLX LP 4.25000% 20-01.12.27 | 400 000.00 | 396 050.62 | 0.04 |
| USD | NXP BV / NXP FUNDING LLC / NXP USA INC 2.70000% 22-01.05.25 | 160 000.00 | 154 113.60 | 0.01 |
| USD | ONCOR ELECTRIC DELIVERY CO 3.70000% 19-15.11.28 | 760 000.00 | 756 882.32 | 0.07 |
| USD | PERU, REPUBLIC OF 5.62500% 10-18.11.50 | 1 500 000.00 | 1 664 812.50 | 0.15 |
| USD | PHILLIPS 66 CO-144A 4.68000% 22-15.02.45 | 500 000.00 | 482 902.84 | 0.04 |
| USD | SOUTHWESTERN ELECTRIC POWER 6.20000% 10-15.03.40 | 150 000.00 | 168 294.74 | 0.02 |
| USD | TEACHERS INSURANCE&ANNUITY ASS-144A-SUB 4.90000% 14-15.09.44 | 200 000.00 | 199 894.59 | 0.02 |
| USD | TECK RESOURCES LTD 3.90000% 20-15.07.30 | 530 000.00 | 501 644.01 | 0.05 |
| USD | TRITON CONTAINER INTERNATIONAL LTD-144A 2.05000% 21-15.04.26 | 920 000.00 | 844 744.00 | 0.08 |
| Total USD |  |  | 14 822 111.69 | 1.38 |
| Total Notes, fixed rate |  | 19 340 851.47 | 1.80 |
| Medium term notes, fixed rate |  |  |  |
| AUD |  |  |  |
| AUD	AIR NEW ZEALAND LTD 5.70000% 22-25.05.26 | 2 590 000.00 | 1 862 748.55 | 0.17 |
| AUD	AURIZON FINANCE PTY LTD 3.00000% 21-09.03.28 | 2 160 000.00 | 1 330 674.49 | 0.13 |
| Total AUD |  | 3 193 423.04 | 0.30 |
| Total Medium term notes, fixed rate |  | 3 193 423.04 | 0.30 |
| Medium term notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	AUSTRALIA & NEW ZEALAND BANK-REG-S-SUB 2.950%VAR 20-22.07.30 | 700 000.00 | 670 586.70 | 0.06 |
| USD	INTESA SANPAOLO SPA-144A-SUB 7.700%/VAR 15-PRP | 1 500 000.00 | 1 469 670.82 | 0.14 |
| Total USD |  | 2 140 257.52 | 0.20 |
| Total Medium term notes, floating rate |  | 2 140 257.52 | 0.20 |
| Bonds, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	PANTHER BF AGGR 2/PANTHER FIN CO-REG-S 4.37500% 19-15.05.26 | 2 460 000.00 | 2 437 629.38 | 0.23 |
| Total EUR |  | 2 437 629.38 | 0.23 |
| RUB |  |  |  |
| RUB	RUSSIA, FEDERATION OF 7.65000% 19-10.04.30* | 1 900 000 000.00 | 1 884 920.64 | 0.17 |
| Total RUB |  | 1 884 920.64 | 0.17 |
| USD |  |  |  |
| USD	FIVE CORNERS FUNDING TRUST-144A 4.41900% 13-15.11.23 | 200 000.00 | 202 969.12 | 0.02 |
| Total USD |  | 202 969.12 | 0.02 |
| Total Bonds, fixed rate |  | 4 525 519.14 | 0.42 |
| Bonds, floating rate |  |  |  |
| NZD |  |  |  |
| NZD	NEW ZEALAND 2.500%/CPI LINKED 17-20.09.40 | 85 650 000.00 | 69 192 222.18 | 6.45 |
| NZD	NEW ZEALAND 3.000%/CPI LINKED 13-20.09.30 | 42 000 000.00 | 35 584 520.25 | 3.31 |
| Total NZD |  | 104 776 742.43 | 9.76 |
| USD |  |  |  |
| USD	SCENTRE GROUP TRUST 2-REG-S-SUB 4.750%/VAR 20-24.09.80 | 650 000.00 | 618 579.45 | 0.06 |
| Total USD |  | 618 579.45 | 0.06 |
| Total Bonds, floating rate |  | 105 395 321.88 | 9.82 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 211 952 976.34 | 19.75 |

Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market
Mortgage Backed Securities, fixed rate
| USD |  |
| --- | --- |
| USD | DBGS 2018-BIOD MORTGAGE TRUST-SUB 4.76400% 18-01.10.51 | 1 300 000.00 | 1 298 246.30 | 0.12 |
| Total USD |  |  | 1 298 246.30 | 0.12 |
| Total Mortgage Backed Securities, fixed rate |  | 1 298 246.30 | 0.12 |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	NXP BV / NXP FUNDING LLC / NXP USA 3.15000% 22-01.05.27 | 900 000.00 | 854 604.00 | 0.08 |
| USD	VISTRA OPERATIONS CO LLC-144A 5.12500% 22-13.05.25 | 1 535 000.00 | 1 546 695.78 | 0.14 |
| Total USD |  | 2 401 299.78 | 0.22 |
| Total Notes, fixed rate |  | 2 401 299.78 | 0.22 |
| Total Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market |  | 3 699 546.08 | 0.34 |
| * Fair-valued - See note 15 – Event |  |  |  |

UBS (Lux) Bond SICAV – Global Dynamic (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) |  |
| Recently issued transferable securities and money market instruments |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	COMCAST CORP-144A 2.93700% 21-01.11.56 | 285 000.00 | 212 544.05 | 0.02 |
| USD	LUNDIN ENERGY FINANCE BV-144A 3.10000% 21-15.07.31 | 375 000.00 | 330 164.33 | 0.03 |
| Total USD |  | 542 708.38 | 0.05 |
| Total Notes, fixed rate | 542 708.38 | 0.05 |
| Total Recently issued transferable securities and money market instruments | 542 708.38 | 0.05 |
| UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 |  |  |
| Investment funds, open end |  |  |
| Ireland |  |  |
| EUR	ISHARES EURO HIGH YIELD CORPORATE BOND UCITS ETF EUR	1 000.00 | 99 112.05 | 0.01 |
| Total Ireland | 99 112.05 | 0.01 |
| Luxembourg |  |  |
| EUR	UBS (LUX) BOND FUND - EURO HIGH YIELD (EUR) I-X-ACC	500.00 | 72 250.46 | 0.00 |
| USD	UBS (LUX) BOND SICAV - ASIAN HIGH YIELD (USD) I-X-DIST	378 000.00 | 23 817 780.00 | 2.22 |
| USD	UBS (LUX) BOND SICAV - MULTI INCOME (USD)-U-X-ACC- CAP	400.00 | 3 951 796.00 | 0.37 |
| USD	UBS (LUX) BOND SICAV - CHINA HIGH YIELD (USD) U-X-ACC	2 400.00 | 13 284 168.00 | 1.24 |
| Total Luxembourg | 41 125 994.46 | 3.83 |
| Total Investment funds, open end | 41 225 106.51 | 3.84 |
| Total UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 | 41 225 106.51 | 3.84 |
| Total investments in securities | 960 708 154.72 | 89.50 |

| Derivative instruments |  |
| --- | --- |
| Derivative instruments listed on an official stock exchange |
| Financial Futures on bonds |
|  |  |  |  |
| EUR	EURO BTP ITALY GOVERNMENT FUTURE 08.06.22 | 130.00 | -2 451 020.00 | -0.23 |
| EUR	EURO-BUND FUTURE 08.06.22 | -100.00 | 1 552 916.14 | 0.14 |
| EUR	EURO-BOBL FUTURE 08.06.22 | -420.00 | 2 785 464.25 | 0.26 |
| EUR	EURO-SCHATZ FUTURE 08.06.22 | -358.00 | 636 622.45 | 0.06 |
| EUR	EURO-BUXL FUTURE 08.06.22 | -300.00 | 12 623 610.00 | 1.18 |
| EUR	EURO-OAT FUTURE 08.06.22 | -50.00 | 758 980.62 | 0.07 |
| GBP	LONG GILT FUTURE 28.09.22 | -70.00 | 156 151.17 | 0.01 |
| JPY	JAPAN GOVERNMENT 10Y BOND (OSE) FUTURE 13.06.22 | -39.00 | 96 000.62 | 0.01 |
| AUD	AUSTRALIA 3YR BOND FUTURE 15.06.22 | 696.00 | -1 440 360.18 | -0.13 |
| USD	US ULTRA LONG BOND (CBT) FUTURE 21.09.22 | -437.00 | 1 312 375.04 | 0.12 |
| USD	US LONG BOND FUTURE 21.09.22 | -250.00 | 455 750.05 | 0.04 |
| CAD	CAN 10YR BOND FUTURE 20.09.22 | -59.00 | 73 700.44 | 0.01 |
| USD	US 5YR TREASURY NOTE FUTURE 30.09.22 | -934.00 | 511 078.13 | 0.05 |
| USD	US 10YR ULTRA NOTE FUTURE 21.09.22 | -750.00 | 1 069 828.33 | 0.10 |
| USD	US 10YR TREASURY NOTE FUTURE 21.09.22 | -1 035.00 | 958 234.38 | 0.09 |
| USD	US 2YR TREASURY NOTE FUTURE 30.09.22 | -450.00 | 114 867.65 | 0.01 |
| Total Financial Futures on bonds |  | 19 214 199.09 | 1.79 |
| Financial Futures on interest rates |  |  |  |
|  |  |  |  |
| USD	90DAY EURO DOLLAR FUTURE 18.12.23 | 2 220.00 | -9 019 937.50 | -0.84 |
| USD	90DAY EURO DOLLAR FUTURE 16.12.24 | -2 220.00 | 6 435 687.50 | 0.60 |
| Total Financial Futures on interest rates | -2 584 250.00 | -0.24 |
| Total Derivative instruments listed on an official stock exchange | 16 629 949.09 | 1.55 |
| Derivative instruments not listed on an official stock exchange and not traded on another regulated market |  |  |
| Swaps and forward swaps on interest rates |  |  |
|  |  |  |
| USD	LCH/INTEREST RATE SWAP PAYER 2.29200% 20-03.02.25	-8 000 000.00 | 69 322.94 | 0.01 |
| USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 20-03.02.25 |  |  |
| USD	LCH/INTEREST RATE SWAP PAYER 2.37200% 15-28.04.45	-2 000 000.00 | 193 888.60 | 0.02 |
| USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 15-28.04.45 |  |  |
| USD	LCH/INTEREST RATE SWAP PAYER 2.56500% 15-10.11.45	-2 500 000.00 | 160 877.87 | 0.01 |
| USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 15-10.11.45 |  |  |
| USD	LCH/INTEREST RATE SWAP PAYER 2.60800% 15-19.11.45	-2 400 000.00 | 137 333.82 | 0.01 |
| USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 15-19.11.45 |  |  |
| USD	LCH/INTEREST RATE SWAP PAYER 2.12350% 16-18.04.46	-2 000 000.00 | 280 610.75 | 0.03 |
| USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 16-18.04.46 |  |  |
| USD	LCH/INTEREST RATE SWAP PAYER 2.39400% 17-23.03.27	-4 600 000.00 | 81 599.04 | 0.01 |
| USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 17-23.03.27 |  |  |
| USD	LCH/INTEREST RATE SWAP PAYER 2.34600% 17-07.04.27	-5 000 000.00 | 102 495.33 | 0.01 |
| USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 17-07.04.27 |  |  |
| USD	LCH/INTEREST RATE SWAP PAYER 2.57230% 17-01.08.47	-1 800 000.00 | 97 747.02 | 0.01 |
| USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 17-01.08.47 |  |  |
| USD	LCH/INTEREST RATE SWAP PAYER 2.24850% 17-02.08.27	-4 300 000.00 | 96 081.83 | 0.01 |
| USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 17-02.08.27 |  |  |
| USD	LCH/INTEREST RATE SWAP PAYER 1.29910% 20-03.03.50	-5 800 000.00 | 1 768 929.46 | 0.16 |
| USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 20-03.03.50 |  |  |

UBS (Lux) Bond SICAV – Global Dynamic (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) |  |
|  |  |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAYER 2.11600% 20-23.01.30 | -142 000 000.00 | 8 347 912.99 | 0.78 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 20-23.01.30 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAYER 1.91900% 20-10.02.30 | -155 000 000.00 | 9 594 678.38 | 0.89 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 20-10.02.30 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAYER 0.85750% 20-23.07.30 | -87 000 000.00 | 6 904 293.39 | 0.64 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 20-23.07.30 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAYER 0.34200% 20-10.09.50 | -10 000.00 | 4 534.44 | 0.00 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 20-10.09.50 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAYER 0.13510% 20-16.09.30 | -100 000.00 | 19 438.02 | 0.00 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 20-16.09.30 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAYER 0.63290% 21-11.02.51 | -7 200 000.00 | 2 731 835.93 | 0.25 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 21-11.02.51 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAYER 0.84167% 21-19.02.51 | -9 100 000.00 | 2 935 399.68 | 0.27 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 21-19.02.51 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAYER 0.88540% 21-28.02.51 | -18 400 000.00 | 5 719 699.18 | 0.53 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 21-28.02.51 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.20750% 19-27.09.29 | -35 900 000.00 | 4 041 441.22 | 0.38 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 19-27.09.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.67500% 24-30.10.29 | -32 000 000.00 | 1 929 429.56 | 0.18 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 24-30.10.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.58300% 24-24.09.29 | -54 000 000.00 | 3 405 071.20 | 0.32 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 24-24.09.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.47300% 24-15.10.29 | -55 000 000.00 | 3 623 802.60 | 0.34 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 24-15.10.29 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP PAYER 2.80500% 21-02.04.26 | -755 000 000.00 | -2 060 330.27 | -0.19 |
| CNY | CITI/INTEREST RATE SWAP REC CNRR007 21-02.04.26 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAYER 1.72500% 21-17.06.31 | -84 500 000.00 | 5 970 490.91 | 0.56 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 21-17.06.31 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAYER 0.93330% 21-26.10.51 | -10 100 000.00 | 3 014 478.27 | 0.28 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 21-26.10.51 |  |  |  |
| USD | LCH/INTEREST RATE SWAP PAYER 1.82280% 21-29.10.51 | -11 900 000.00 | 2 462 826.68 | 0.23 |
| USD | LCH/INTEREST RATE SWAP REC 3M LIBOR 21-29.10.51 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAYER 3.79250% 22-17.01.32 | -61 500 000.00 | 2 464 300.46 | 0.23 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 22-17.01.32 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAYER 3.86400% 22-19.01.32 | -61 000 000.00 | 2 371 044.37 | 0.22 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 22-19.01.32 |  |  |  |
| KRW | JPMORGAN/INTEREST RATE SWAP PAYER 2.15900% 22-25.01.32 | -42 300 000 000.00 | 2 780 421.69 | 0.26 |
| KRW | JPMORGAN/INTEREST RATE SWAP REC 3MKWCD 22-25.01.32 |  |  |  |
| NZD | BC/INTEREST RATE SWAP REC 5.14300% 14-17.02.24 | 2 100 000.00 | 48 335.99 | 0.00 |
| NZD | BC/INTEREST RATE SWAP PAYERER 3ML 14-17.02.24 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 3.02250% 19-02.04.24 | 105 000 000.00 | 275 492.99 | 0.02 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 19-02.04.24 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.94000% 19-19.09.24 | 75 000 000.00 | 208 662.63 | 0.02 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 19-19.09.24 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.96250% 19-21.10.24 | 140 000 000.00 | 392 029.44 | 0.04 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 19-21.10.24 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 3.15750% 19-30.10.24 | 111 000 000.00 | 387 620.82 | 0.04 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 19-30.10.24 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.92500% 20-16.01.25 | 114 000 000.00 | 323 433.42 | 0.03 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 20-16.01.25 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 2.23500% 20-10.06.25 | 110 000 000.00 | -6 479.28 | 0.00 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 20-10.06.25 |  |  |  |
| NZD | BARCLAYS/INTEREST RATE SWAP REC 5.20000% 13-09.12.23 | 1 200 000.00 | 32 729.69 | 0.00 |
| NZD | BARCLAYS/INTEREST RATE SWAP PAYER 3MFRA 13-09.12.23 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP REC 1.22000% 19-21.11.24 | 42 500 000.00 | -1 766 438.30 | -0.16 |
| NZD | LCH/INTEREST RATE SWAP PAYER 3MFRA 19-21.11.24 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 6.28000% 16-23.07.26 | 95 000 000.00 | -401 951.80 | -0.04 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 16-23.07.26 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 8.20500% 19-20.04.29 | 160 000 000.00 | -123 932.03 | -0.01 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 19-20.04.29 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 6.68000% 19-26.09.29 | 150 000 000.00 | -756 923.22 | -0.07 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 19-26.09.29 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 6.84250% 20-09.01.30 | 320 000 000.00 | -1 501 473.85 | -0.14 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 20-09.01.30 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 6.53600% 20-14.02.30 | 245 000 000.00 | -1 380 780.79 | -0.13 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 20-14.02.30 |  |  |  |
| CNY | HSBC/INTEREST RATE SWAP REC 2.87250% 19-16.07.24 | 90 000 000.00 | 212 053.48 | 0.02 |
| CNY | HSBC/INTEREST RATE SWAP PAYER CNRR007 19-16.07.24 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP REC 1.32000% 21-22.06.26 | 119 000 000.00 | -7 260 359.27 | -0.68 |
| NZD | LCH/INTEREST RATE SWAP PAYER 3MFRA 21-22.06.26 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 2.59600% 21-10.08.26 | 17 900 000 000.00 | -7 852 882.27 | -0.73 |
| HUF | LCH/INTEREST RATE SWAP PAYER 6ML 21-10.08.26 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 2.83500% 21-17.09.26 | 8 870 000 000.00 | -3 820 547.09 | -0.36 |
| HUF | LCH/INTEREST RATE SWAP PAYER 6ML 21-17.09.26 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 7.50000% 21-22.09.31 | 477 000 000.00 | -1 526 996.40 | -0.14 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 21-22.09.31 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 7.44000% 21-16.10.26 | 660 000 000.00 | -1 444 077.80 | -0.13 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 21-16.10.26 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 7.49250% 21-19.10.26 | 660 000 000.00 | -1 380 850.84 | -0.13 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 21-19.10.26 |  |  |  |
| CZK | CITI/INTEREST RATE SWAP REC 3.43000% 21-16.12.26 | 500 000 000.00 | -1 604 872.39 | -0.15 |
| CZK | CG/INTEREST RATE SWAP PAYER PRIBOR 6M 21-16.12.26 |  |  |  |
| ZAR | LCH/INTEREST RATE SWAP REC 7.67000% 22-06.01.32 | 223 000 000.00 | -589 701.57 | -0.05 |
| ZAR | LCH/INTEREST RATE SWAP PAYER 3MZAR 22-06.01.32 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 4.82000% 22-17.01.27 | 9 050 000 000.00 | -2 388 090.70 | -0.22 |
| HUF | LCH/INTEREST RATE SWAP PAYER 6MHUF 22-17.01.27 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 4.95100% 22-19.01.27 | 9 050 000 000.00 | -2 248 365.66 | -0.21 |
| HUF | LCH/INTEREST RATE SWAP PAYER 6ML 22-19.01.27 |  |  |  |
| KRW | JPMORGAN/INTEREST RATE SWAP REC 2.02000% 22-25.01.24 | 90 000 000 000.00 | -1 061 755.64 | -0.10 |
| KRW | JPMORGAN/INTEREST RATE SWAP PAYER 3MKWCD 22-25.01.24 |  |  |  |
| KRW | JPMORGAN/INTEREST RATE SWAP REC 2.02000% 22-25.01.24 | 90 000 000 000.00 | -1 061 755.64 | -0.10 |
| KRW | JPMORGAN/INTEREST RATE SWAP PAYER 3MKWCD 22-25.01.24 |  |  |  |
| KRW | JPMORGAN/INTEREST RATE SWAP REC 2.02000% 22-25.01.24 | 39 000 000 000.00 | -460 094.11 | -0.04 |
| KRW | JPMORGAN/INTEREST RATE SWAP PAYER 3MKWCD 22-25.01.24 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP REC 1.61930% 22-24.02.27 | 39 500 000.00 | -1 376 902.06 | -0.13 |
| GBP | LCH/INTEREST RATE SWAP PAYER SONIA O/N 22-24.02.27 |  |  |  |

Total Swaps and forward swaps on interest rates	31 114 783.11	2.90
UBS (Lux) Bond SICAV – Global Dynamic (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) |  |

Credit default swaps*
| USD | BOA/MEX CREDIT DEFAULT SWAP PAYER 1.00000% 19-20.06.24 | -8 750 000.00 | -89 699.07 | -0.01 |
| --- | --- | --- | --- | --- |
| USD | BOA/TURKEY CREDIT DEFAULT SWAP REC 1.00000% 19-20.06.24 | 8 750 000.00 | -977 974.19 | -0.09 |
| Total Credit default swaps | -1 067 673.26 | -0.10 |
| Total Derivative instruments not listed on an official stock exchange and not traded on another regulated market | 30 047 109.85 | 2.80 |
| Total Derivative instruments | 46 677 058.94 | 4.35 |
| Forward Foreign Exchange contracts |  |  |
| Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date |  |  |

| MYR | 24 966 000.00 | USD | 5 709 124.17 | 7.6.2022 | -9 080.79 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 60 084 576.89 | CNY | 394 990 000.00 | 6.6.2022 | 760 067.37 | 0.07 |
| USD | 23 792 328.13 | TWD | 698 400 000.00 | 6.6.2022 | -280 953.39 | -0.03 |
| KRW | 29 234 000 000.00 | USD | 22 965 101.44 | 7.6.2022 | 634 808.60 | 0.06 |
| JPY | 1 050 500 000.00 | USD | 8 064 738.39 | 6.6.2022 | 101 416.28 | 0.01 |
| USD | 16 898 800.26 | BRL | 85 780 000.00 | 6.6.2022 | -1 197 418.97 | -0.11 |
| CLP | 14 934 100 000.00 | USD | 17 288 840.01 | 6.6.2022 | 851 100.39 | 0.08 |
| USD | 35 733 783.26 | PLN | 158 335 000.00 | 6.6.2022 | -1 286 488.74 | -0.12 |
| AUD | 23 895 000.00 | USD | 16 953 354.35 | 6.6.2022 | 187 978.76 | 0.02 |
| SEK | 232 230 000.00 | USD | 23 496 280.54 | 7.6.2022 | 241 479.08 | 0.02 |
| USD | 28 810 824.60 | MXN | 592 570 000.00 | 6.6.2022 | -1 242 173.98 | -0.12 |
| USD | 11 919 158.44 | CAD | 15 350 000.00 | 6.6.2022 | -216 498.44 | -0.02 |
| USD | 169 071 055.08 | NZD | 263 435 000.00 | 7.6.2022 | -2 402 473.48 | -0.22 |
| USD | 263 184 990.27 | EUR | 250 240 000.00 | 6.6.2022 | -4 897 327.18 | -0.46 |
| USD | 52 680 536.40 | GBP | 42 055 000.00 | 6.6.2022 | -321 253.92 | -0.03 |
| USD | 1 354 267.34 | HUF | 495 400 000.00 | 7.6.2022 | 17 582.70 | 0.00 |
| CZK | 28 480 000.00 | USD | 1 205 372.03 | 6.6.2022 | 28 131.92 | 0.00 |
| SGD | 15 247 506.23 | USD | 11 060 000.00 | 6.6.2022 | 62 232.95 | 0.01 |
| USD | 11 060 000.00 | PHP | 582 640 800.00 | 6.6.2022 | -57 313.56 | -0.01 |
| USD | 2 843 064.68 | PLN | 12 625 000.00 | 6.6.2022 | -108 783.83 | -0.01 |
| NZD | 5 195 000.00 | USD | 3 366 188.57 | 7.6.2022 | 15 309.64 | 0.00 |
| EUR | 10 565 000.00 | SEK | 110 373 083.25 | 7.6.2022 | 36 867.72 | 0.00 |
| USD | 2 066 311.04 | GBP | 1 670 000.00 | 6.6.2022 | -38 384.95 | 0.00 |
| AUD | 15 640 000.00 | USD | 10 976 131.67 | 6.6.2022 | 243 389.14 | 0.02 |
| EUR | 2 670 000.00 | GBP | 2 283 747.12 | 6.6.2022 | -17 826.46 | 0.00 |
| AUD | 3 480 000.00 | USD | 2 429 043.48 | 6.6.2022 | 67 371.64 | 0.01 |
| EUR | 1 466 485.28 | PLN | 6 885 000.00 | 6.6.2022 | -38 739.12 | 0.00 |
| EUR | 427 200 000.00 | USD | 451 656 730.08 | 13.6.2022 | 6 166 919.84 | 0.58 |
| CHF | 167 182 300.00 | USD | 169 321 164.96 | 13.6.2022 | 5 168 068.97 | 0.48 |
| ZAR | 88 752 861.91 | USD | 5 515 000.00 | 6.6.2022 | 179 350.58 | 0.02 |
| PLN | 47 430 000.00 | CZK | 253 755 243.00 | 6.6.2022 | 99 160.24 | 0.01 |
| USD | 1 610 000.00 | KRW | 2 076 256 000.00 | 7.6.2022 | -66 111.88 | -0.01 |
| GBP | 10 000 000.00 | USD | 12 234 312.00 | 6.6.2022 | 368 658.00 | 0.03 |
| CNY | 10 938 340.00 | USD | 1 610 000.00 | 6.6.2022 | 32 855.91 | 0.00 |
| CAD | 15 254 023.79 | USD | 11 675 000.00 | 6.6.2022 | 384 778.42 | 0.04 |
| MYR | 46 819 960.00 | USD | 10 670 000.00 | 7.6.2022 | 19 569.93 | 0.00 |
| USD | 10 670 000.00 | PHP | 561 242 000.00 | 6.6.2022 | -39 005.10 | 0.00 |
| USD | 1 075 077.61 | MXN | 21 510 000.00 | 6.6.2022 | -15 831.48 | 0.00 |
| USD | 1 846 487.80 | EUR | 1 750 700.00 | 13.6.2022 | -29 710.38 | 0.00 |
| NOK | 105 280 000.00 | SEK | 107 082 920.00 | 7.6.2022 | 253 580.64 | 0.02 |
| NZD | 2 770 000.00 | EUR | 1 673 898.07 | 7.6.2022 | 9 697.42 | 0.00 |
| PLN | 130 415 000.00 | USD | 29 730 511.60 | 6.6.2022 | 761 791.26 | 0.07 |
| USD | 1 173 304.16 | EUR | 1 110 400.00 | 13.6.2022 | -16 694.39 | 0.00 |
| USD | 2 660 823.33 | MXN | 52 840 000.00 | 6.6.2022 | -19 029.59 | 0.00 |
| USD | 1 771 246.71 | CHF | 1 706 700.00 | 13.6.2022 | -10 046.98 | 0.00 |
| USD | 2 984 885.34 | AUD | 4 220 000.00 | 6.6.2022 | -42 376.67 | 0.00 |
| SEK | 32 358 724.71 | GBP | 2 596 440.00 | 7.6.2022 | 35 321.06 | 0.00 |
| USD | 10 644 930.12 | AUD | 14 960 000.00 | 6.6.2022 | -86 785.44 | -0.01 |
| USD | 5 285 000.00 | ZAR | 82 762 301.97 | 6.6.2022 | -24 998.48 | 0.00 |
| USD | 57 032 224.53 | CNY | 384 055 000.00 | 6.7.2022 | -512 447.92 | -0.05 |
| CNY | 384 051 660.00 | USD | 57 159 050.45 | 6.6.2022 | 522 603.16 | 0.05 |
| SEK | 72 439 106.33 | GBP | 5 833 560.00 | 7.6.2022 | 52 478.33 | 0.01 |
| USD | 21 675 907.10 | KRW | 27 157 744 000.00 | 7.6.2022 | -247 891.05 | -0.02 |
| KRW | 27 158 000 000.00 | USD | 21 671 960.04 | 6.7.2022 | 210 037.32 | 0.02 |
| TWD | 698 400 000.00 | USD | 23 886 722.76 | 6.6.2022 | 186 558.76 | 0.02 |
| USD | 23 953 081.59 | TWD | 698 400 000.00 | 6.7.2022 | -239 647.44 | -0.02 |
| USD | 10 575 000.00 | CAD | 13 464 950.81 | 6.6.2022 | -70 343.51 | -0.01 |
| USD | 21 815 581.20 | PHP | 1 143 900 000.00 | 6.7.2022 | 91 487.67 | 0.01 |
| PHP | 1 143 882 800.00 | USD | 21 863 203.36 | 6.6.2022 | -36 884.70 | 0.00 |
| MYR | 71 786 000.00 | USD | 16 432 266.63 | 6.7.2022 | -57 499.91 | -0.01 |
| USD | 16 434 514.65 | MYR | 71 785 960.00 | 7.6.2022 | 44 901.34 | 0.00 |
| BRL | 85 780 000.00 | USD | 18 158 340.39 | 6.6.2022 | -62 121.16 | -0.01 |
| USD | 18 090 975.17 | CLP | 14 934 100 000.00 | 6.6.2022 | -48 965.23 | 0.00 |
| CLP | 14 934 100 000.00 | USD | 17 985 307.40 | 6.7.2022 | 40 336.91 | 0.00 |
| USD | 18 000 209.84 | BRL | 85 780 000.00 | 6.7.2022 | 79 558.79 | 0.01 |
| USD | 3 077 812.60 | EUR | 2 852 800.00 | 13.6.2022 | 20 510.85 | 0.00 |
| USD | 45 412 689.93 | GBP | 36 010 000.00 | 6.7.2022 | 20 667.42 | 0.00 |
| USD | 528 805.49 | SGD | 725 000.00 | 6.6.2022 | -42.88 | 0.00 |
| USD | 2 108 467.81 | MXN | 41 330 000.00 | 6.6.2022 | 12 360.29 | 0.00 |
| USD | 1 582 827.74 | JPY | 203 000 000.00 | 6.6.2022 | 4 789.28 | 0.00 |
| TWD | 80 900 000.00 | USD | 2 797 372.06 | 6.7.2022 | 5 021.67 | 0.00 |
| Total Forward Foreign Exchange contracts | 4 277 649.25 | 0.40 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 84 031 613.13** | 7.83 |
| Bank overdraft and other short-term liabilities | -26 208 767.30 | -2.44 |
| Other assets and liabilities | 3 941 035.11 | 0.36 |
| Total net assets | 1 073 426 743.85 | 100.00 |

* Positive nominal: the subfund is “Receiver”, negative nominal: the subfund is “Payer”.
** As at 31 May 2022, cash amounts serve as collateral for the counterparty Bank of America for an amount of USD 420 000.00, Citibank for an amount of USD 3 050 000.00 and Morgan Stanley London for an amount of USD 1 281 000.00.
UBS (Lux) Bond SICAV – Global Dynamic (USD) Annual report and audited financial statements as of 31 May 2022

Translation (ENFR, 2022-05-31):
# UBS (Lux) Bond SICAV – Global Dynamic (USD)
| Comparaison sur trois ans |  |
| --- | --- |
|  | ISIN | 31.5.2022 | 31.5.2021 | 31.5.2020 |
| Actif net en USD |  | 1 073 426 743.85 | 1 387 273 948.99 | 976 416 981.44 |
| Catégorie (EUR hedged) I-A1-acc | LU1240811650 |  |  |  |
| Actions en circulation |  | 322 802.7180 | 696 720.5160 | 750 514.6690 |
| Valeur nette d’inventaire par action en EUR |  | 97.92 | 103.07 | 98.35 |
| Prix d’émission et de rachat par action en EUR 1 |  | 97.92 | 103.07 | 98.35 |
| Catégorie I-A2-acc 2 | LU2189802106 |  |  |  |
| Actions en circulation |  | - | 984 720.2910 | - |
| Valeur nette d’inventaire par action en USD |  | - | 104.75 | - |
| Prix d’émission et de rachat par action en USD 1 |  | - | 104.75 | - |
| Catégorie I-A3-acc 3 | LU2099389871 |  |  |  |
| Actions en circulation |  | 1 008 279.6370 | - | - |
| Valeur nette d’inventaire par action en USD |  | 99.73 | - | - |
| Prix d’émission et de rachat par action en USD 1 |  | 99.73 | - | - |
| Catégorie (EUR hedged) I-A3-acc | LU2134544555 |  |  |  |
| Actions en circulation |  | 33 212.6330 | 43 257.2780 | 100.0000 |
| Valeur nette d’inventaire par action en EUR |  | 113.56 | 119.41 | 113.84 |
| Prix d’émission et de rachat par action en EUR 1 |  | 113.56 | 119.41 | 113.84 |
| Catégorie I-B-acc 4 | LU2113590561 |  |  |  |
| Actions en circulation |  | 108 417.0740 | 296 804.2700 | - |
| Valeur nette d’inventaire par action en USD |  | 97.64 | 101.26 | - |
| Prix d’émission et de rachat par action en USD 1 |  | 97.64 | 101.26 | - |
| Catégorie (EUR hedged) I-B-acc | LU1193130314 |  |  |  |
| Actions en circulation |  | 327 004.9150 | 410 405.4760 | 65 363.4740 |
| Valeur nette d’inventaire par action en EUR |  | 100.27 | 104.90 | 114.38 |
| Prix d’émission et de rachat par action en EUR 1 |  | 100.27 | 104.90 | 114.38 |
| Catégorie I-X-acc | LU1138686867 |  |  |  |
| Actions en circulation |  | 289 585.6960 | 378 558.2010 | 228 147.7250 |
| Valeur nette d’inventaire par action en USD |  | 131.57 | 136.37 | 127.97 |
| Prix d’émission et de rachat par action en USD 1 |  | 131.57 | 136.37 | 127.97 |
| Catégorie (CHF hedged) I-X-acc | LU1557225098 |  |  |  |
| Actions en circulation |  | 824 422.3640 | 511 993.5060 | 373 152.3150 |
| Valeur nette d’inventaire par action en CHF |  | 118.47 | 123.99 | 117.74 |
| Prix d’émission et de rachat par action en CHF 1 |  | 118.47 | 123.99 | 117.74 |
| Catégorie (EUR hedged) I-X-acc | LU1822788151 |  |  |  |
| Actions en circulation |  | 155 895.5390 | 121 225.2080 | 118 155.3140 |
| Valeur nette d’inventaire par action en EUR |  | 108.73 | 113.68 | 107.73 |
| Prix d’émission et de rachat par action en EUR 1 |  | 108.73 | 113.68 | 107.73 |
| Catégorie K-B-acc 5 | LU2282404438 |  |  |  |
| Actions en circulation |  | 296 651.9660 | 326 900.0000 | - |
| Valeur nette d’inventaire par action en USD |  | 95.69 | 99.29 | - |
| Prix d’émission et de rachat par action en USD 1 |  | 95.69 | 99.29 | - |
| Catégorie K-X-acc | LU1860987145 |  |  |  |
| Actions en circulation |  | 223 508.6630 | 164 788.8360 | 164 788.8360 |
| Valeur nette d’inventaire par action en USD |  | 116.39 | 120.69 | 113.30 |
| Prix d’émission et de rachat par action en USD 1 |  | 116.39 | 120.69 | 113.30 |
| Catégorie K-X-dist | LU1917356179 |  |  |  |
| Actions en circulation |  | 149 093.0950 | 149 093.0950 | 120 329.3350 |
| Valeur nette d’inventaire par action en USD |  | 100.45 | 107.42 | 103.16 |
| Prix d’émission et de rachat par action en USD 1 |  | 100.45 | 107.42 | 103.16 |
| Catégorie P-4%-mdist | LU2051222904 |  |  |  |
| Actions en circulation |  | 30 110.7940 | 43 916.0810 | 28 513.8550 |
| Valeur nette d’inventaire par action en USD |  | 91.54 | 100.16 | 99.19 |
| Prix d’émission et de rachat par action en USD 1 |  | 91.54 | 100.16 | 99.19 |
| Catégorie P-acc | LU0891671751 |  |  |  |
| Actions en circulation |  | 622 714.0450 | 649 268.7490 | 463 352.5420 |
| Valeur nette d’inventaire par action en USD |  | 123.39 | 129.75 | 123.53 |
| Prix d’émission et de rachat par action en USD 1 |  | 123.39 | 129.75 | 123.53 |
| Catégorie (CHF hedged) P-acc | LU0891672213 |  |  |  |
| Actions en circulation |  | 101 053.1660 | 124 770.3430 | 172 184.7300 |
| Valeur nette d’inventaire par action en CHF |  | 105.77 | 112.36 | 108.30 |
| Prix d’émission et de rachat par action en CHF 1 |  | 105.77 | 112.36 | 108.30 |
| Catégorie (EUR hedged) P-acc | LU0891672056 |  |  |  |
| Actions en circulation |  | 2 373 561.3340 | 2 792 700.8260 | 1 889 095.6090 |
| Valeur nette d’inventaire par action en EUR |  | 109.52 | 116.22 | 111.81 |
| Prix d’émission et de rachat par action en EUR 1 |  | 109.52 | 116.22 | 111.81 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport annuel et états financiers révisés au 31 mai 2022
|  | ISIN | 31.5.2022 |  | 31.5.2021 | 31.5.2020 |
| --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |
| Catégorie P-dist | LU0891671835 |  |  |  |  |
| Actions en circulation |  | 48 293.2440 |  | 44 236.5250 | 53 032.5600 |
| Valeur nette d’inventaire par action en USD |  | 108.32 |  | 115.52 | 111.69 |
| Prix d’émission et de rachat par action en USD 1 |  | 108.32 |  | 115.52 | 111.69 |
| Catégorie (CHF hedged) P-dist | LU0891672304 |  |  |  |  |
| Actions en circulation |  | 36 153.5680 |  | 40 564.8980 | 38 388.7570 |
| Valeur nette d’inventaire par action en CHF |  | 92.68 |  | 100.14 | 97.84 |
| Prix d’émission et de rachat par action en CHF 1 |  | 92.68 |  | 100.14 | 97.84 |
| Catégorie (EUR hedged) P-dist | LU0891672130 |  |  |  |  |
| Actions en circulation |  | 100 801.5470 |  | 145 771.3230 | 120 348.3040 |
| Valeur nette d’inventaire par action en EUR |  | 95.86 |  | 103.31 | 100.87 |
| Prix d’émission et de rachat par action en EUR 1 |  | 95.86 |  | 103.31 | 100.87 |
| Catégorie Q-4%-mdist | LU2038039314 |  |  |  |  |
| Actions en circulation |  | 137 554.7230 |  | 128 104.7630 | 108 504.5660 |
| Valeur nette d’inventaire par action en USD |  | 92.44 |  | 100.52 | 98.94 |
| Prix d’émission et de rachat par action en USD 1 |  | 92.44 |  | 100.52 | 98.94 |
| Catégorie Q-acc | LU1240774783 |  |  |  |  |
| Actions en circulation |  | 804 984.6060 |  | 983 891.7330 | 765 938.7300 |
| Valeur nette d’inventaire par action en USD |  | 122.80 |  | 128.35 | 121.47 |
| Prix d’émission et de rachat par action en USD 1 |  | 122.80 |  | 128.35 | 121.47 |
| Catégorie (CHF hedged) Q-acc | LU1240774437 |  |  |  |  |
| Actions en circulation |  | 412 244.6670 |  | 474 582.3430 | 463 749.4170 |
| Valeur nette d’inventaire par action en CHF |  | 106.37 |  | 112.32 | 107.62 |
| Prix d’émission et de rachat par action en CHF 1 |  | 106.37 |  | 112.32 | 107.62 |
| Catégorie (EUR hedged) Q-acc | LU1240774601 |  |  |  |  |
| Actions en circulation |  | 617 139.2940 |  | 845 260.0870 | 1 775 888.0570 |
| Valeur nette d’inventaire par action en EUR |  | 108.94 |  | 114.91 | 109.87 |
| Prix d’émission et de rachat par action en EUR 1 |  | 108.94 |  | 114.91 | 109.87 |
| Catégorie Q-dist | LU1240774866 |  |  |  |  |
| Actions en circulation |  | 219 860.9530 |  | 235 677.3560 | 240 782.2450 |
| Valeur nette d’inventaire par action en USD |  | 109.38 |  | 117.01 | 112.61 |
| Prix d’émission et de rachat par action en USD 1 |  | 109.38 |  | 117.01 | 112.61 |
| Catégorie (CHF hedged) Q-dist | LU1240774510 |  |  |  |  |
| Actions en circulation |  | 143 870.9260 |  | 153 651.6680 | 177 472.1870 |
| Valeur nette d’inventaire par action en CHF |  | 94.47 |  | 101.94 | 99.66 |
| Prix d’émission et de rachat par action en CHF 1 |  | 94.47 |  | 101.94 | 99.66 |
| Catégorie (EUR hedged) Q-dist | LU1109640307 |  |  |  |  |
| Actions en circulation |  | 57 812.7180 |  | 68 774.5520 | 87 628.7250 |
| Valeur nette d’inventaire par action en EUR |  | 94.64 |  | 102.27 | 100.25 |
| Prix d’émission et de rachat par action en EUR 1 |  | 94.64 |  | 102.27 | 100.25 |
| 1  Voir note 1 2  La catégorie d’actions I-A2-acc était en circulation pour la période 3  Première VNI 13.4.2022 4  Première VNI 11.11.2020 5  Première VNI 11.2.2021 | allant du 2.7.2020 au 12.4.2022 |  |  |  |  |
| Performance |  |  |  |  |  |
|  |  | Devise | 2021/2022 | 2020/2021 | 2019/2020 |
| Catégorie (EUR hedged) I-A1-acc |  | EUR | -5.0% | 4.8% | - |
| Catégorie I-A2-acc 1 |  | USD | - | - | - |
| Catégorie I-A3-acc 2 |  | USD | - | - | - |
| Catégorie (EUR hedged) I-A3-acc |  | EUR | -4.9% | 4.9% | - |
| Catégorie I-B-acc |  | USD | -3.6% | - | - |
| Catégorie (EUR hedged) I-B-acc |  | EUR | -4.4% | - | 3.2% |
| Catégorie I-X-acc |  | USD | -3.5% | 6.6% | 6.1% |
| Catégorie (CHF hedged) I-X-acc |  | CHF | -4.5% | 5.3% | 2.9% |
| Catégorie (EUR hedged) I-X-acc |  | EUR | -4.4% | 5.5% | 3.3% |
| Catégorie K-B-acc |  | USD | -3.6% | - | - |
| Catégorie K-X-acc |  | USD | -3.6% | 6.5% | 6.0% |
| Catégorie K-X-dist |  | USD | -3.6% | 6.5% | - |
| Catégorie P-4%-mdist |  | USD | -4.9% | 5.0% | - |
| Catégorie P-acc |  | USD | -4.9% | 5.0% | 4.6% |
| Catégorie (CHF hedged) P-acc |  | CHF | -5.9% | 3.7% | 1.4% |
| Catégorie (EUR hedged) P-acc |  | EUR | -5.8% | 3.9% | 1.8% |
| Catégorie P-dist |  | USD | -4.9% | 5.0% | 4.5% |
| Catégorie (CHF hedged) P-dist |  | CHF | -5.9% | 3.7% | 1.4% |
| Catégorie (EUR hedged) P-dist |  | EUR | -5.8% | 3.9% | 1.8% |
| Catégorie Q-4%-mdist |  | USD | -4.3% | 5.7% | - |
| Catégorie Q-acc |  | USD | -4.3% | 5.7% | 5.2% |
| Catégorie (CHF hedged) Q-acc |  | CHF | -5.3% | 4.4% | 2.0% |
| Catégorie (EUR hedged) Q-acc |  | EUR | -5.2% | 4.6% | 2.4% |
| Catégorie Q-dist |  | USD | -4.3% | 5.7% | 5.2% |
| Catégorie (CHF hedged) Q-dist |  | CHF | -5.3% | 4.4% | 2.0% |
| Catégorie (EUR hedged) Q-dist |  | EUR | -5.2% | 4.6% | 2.4% |

1 
La catégorie d’actions I-A2-acc était en circulation pour la période allant du 2.7.2020 au 12.4.2022. Dès lors, aucune donnée n’est disponible pour calculer la performance.
2 
Aucune donnée n’est disponible pour calculer la performance du fonds vu son lancement récent.
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 – Global Dynamic (USD)
Rapport annuel et états financiers révisés au 31 mai 2022

## Rapport du Gestionnaire de portefeuille
Au cours de l’exercice financier du 1
er 
juin 2021 au 31 mai 2022, les rendements des bons du Trésor américain ont augmenté de manière significative, car les signes d’une inflation forte et persistante ont amené les mar- chés à anticiper les hausses des taux de la Fed. Aux États- Unis, l’IPC global a atteint des niveaux jamais vus depuis près de 40 ans, sous l’effet initial de la demande refoulée et des mesures de relance budgétaire, mais il a ensuite été exacerbé par les cours élevés des matières premières en raison de l’invasion russe de l’Ukraine. À la fin de la période considérée, la Fed a relevé son taux directeur, le faisant passer de son taux effectif inférieur consolidé à 1.0%.
Le compartiment a réalisé une performance totale néga- tive au cours de l’exercice. Compte tenu de la forte remontée des rendements des obligations d’Etat, les marchés où nous détenions une duration positive ont nui à la performance, tandis que les marchés où nous avions une duration négative y ont contribué. Par conséquent, nos principales positions de duration positive au Mexique et en Nouvelle-Zélande ont nui à la performance, tandis que notre duration négative au Royaume-Uni, aux Etats- Unis, en Allemagne, en Pologne et au Canada y a contri- bué. Notre exposition aux secteurs à spreads (Investment Grade, High Yield Corporates et EMD) a nui à la perfor- mance en raison de l’élargissement des spreads de crédit. Une exposition modeste à la Russie et à l’Ukraine a égale- ment nui à la performance. En ce qui concerne les devises, notre préférence pour les devises des marchés émergents a légèrement contribué à la performance, tout comme la sous-pondération du dollar canadien. La duration de la stratégie est actuellement proche du bas de la fourchette indicative de 0 à 10 ans, car nous nous efforçons de minimiser le risque de taux d’intérêt. À court terme, nous nous concentrons sur les opportunités de valeur relative et sur la diversification dans les secteurs des obligations non gouvernementales. Nous pensons que le début d’un important cycle de resserrement de la Fed, associé à un resserrement quantitatif, devrait entraîner une certaine volatilité sur les marchés du crédit des pays développés et constituer un point d’entrée intéressant pour l’avenir. Notre stratégie continue d’équilibrer les thèmes straté- giques à long terme qui reflètent nos idées fondées sur des convictions et les positions tactiques permettant de tirer parti des opportunités à court terme sur les marchés.

## Structure du portefeuille-titres
Répartition géographique en % de l’actif net	
| Etats-Unis | 30.60 |
| --- | --- |
| Nouvelle-Zélande | 14.73 |
| Luxembourg | 5.60 |
| Grande-Bretagne | 4.79 |
| Espagne | 3.92 |
| Mexique | 3.50 |
| Italie | 3.48 |
| France | 2.39 |
| Allemagne | 2.16 |
| Pays-Bas | 2.08 |
| Slovénie | 1.83 |
| Brésil | 1.63 |
| Chine | 1.56 |
| Suisse | 0.78 |
| Inde | 0.70 |
| Canada | 0.70 |
| Danemark | 0.67 |
| Australie | 0.58 |
| Irlande | 0.47 |
| Pérou | 0.47 |
| Roumanie | 0.43 |
| Iles Caïmans | 0.41 |
| Turquie | 0.37 |
| Norvège | 0.35 |
| Grèce | 0.32 |
| Kazakhstan | 0.30 |
| Japon | 0.28 |
| Costa Rica | 0.27 |
| Maroc | 0.24 |
| Colombie | 0.23 |
| Indonésie | 0.22 |
| Thaïlande | 0.22 |
| Ukraine | 0.22 |
| Ghana | 0.21 |
| Mongolie | 0.21 |
| Uruguay | 0.21 |
| Philippines | 0.20 |
| Fédération russe (CEI) | 0.18 |
| Finlande | 0.18 |
| Bulgarie | 0.17 |
| Bermudes | 0.16 |
| Egypte | 0.14 |
| Arabie saoudite | 0.12 |
| Suède | 0.11 |
| Nigéria | 0.11 |
| Kenya | 0.11 |
| Jersey | 0.11 |
| Equateur | 0.10 |
| Multinationaux | 0.09 |
| Pologne | 0.09 |
| Afrique du Sud | 0.09 |
| Malaisie | 0.08 |
| République tchèque | 0.08 |
| Belgique | 0.08 |
| Argentine | 0.07 |
| Chili | 0.05 |
| Guatemala | 0.05 |
| Total | 89.50 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport annuel et états financiers révisés au 31 mai 2022
Répartition économique en % de l’actif net	
| Gouvernements nationaux et centraux | 50.26 |
| --- | --- |
| Etablissements financiers et sociétés de participation | 7.59 |
| Emetteurs d’obligations sécurisées (Pfandbriefe) et |  |
| sociétés de refinancement | 6.51 |
| Banques & instituts de crédit | 6.22 |
| Fonds de placement | 3.86 |
| Trafic et transport | 1.93 |
| Télécommunications | 1.78 |
| Distribution d’énergie & d’eau | 1.57 |
| Pétrole | 1.18 |
| Assurances | 0.97 |
| Diverses sociétés non classées | 0.94 |
| Services divers | 0.92 |
| Véhicules | 0.71 |
| Immobilier | 0.68 |
| Internet, logiciels et services informatiques | 0.67 |
| Cantons, Etats fédéraux | 0.59 |
| Tabac et boissons alcoolisées | 0.41 |
| Equipement informatique et de réseau | 0.41 |
| Commerce de détail, centres commerciaux | 0.40 |
| Chimie | 0.29 |
| Machines et appareils | 0.29 |
| Bâtiment et matériaux de construction | 0.21 |
| Appareils et composants électriques | 0.20 |
| Soins de santé & services sociaux | 0.19 |
| Industrie graphique, édition et médias | 0.14 |
| Textiles, habillement & maroquinerie | 0.12 |
| Industrie aéronautique et spatiale | 0.10 |
| Industrie minière, charbon et acier | 0.09 |
| Produits pharmaceutiques, cosmétiques & médicaux | 0.09 |
| Biotechnologie | 0.06 |
| Alimentation & softs | 0.05 |
| Industrie de conditionnement | 0.04 |
| Biens de consommation divers | 0.03 |
| Total | 89.50 |

UBS (Lux) Bond SICAV – Global Dynamic (USD)
Rapport annuel et états financiers révisés au 31 mai 2022

## Etat des actifs nets
USD
Portefeuille-titres, cours d’achat	1 153 988 595.62
Portefeuille-titres, plus- (moins-) value non-réalisée	193 280 440.90
Total portefeuille-titres (note 1)	960 708 154.72
Avoirs en banque, dépôts à vue et à terme	84 031 613.13 *
A recevoir sur souscriptions	470 376.74
Intérêts à recevoir sur titres	8 449 934.41
Intérêts à recevoir sur liquidités	766.07
Intérêts à recevoir sur swaps (note 1)	4 840.80
Frais payés d’avance	125 308.13
Bénéfice non réalisé sur contrats financiers à terme (note 1)	16 629 949.09
Bénéfice non réalisé sur contrats de change à terme (note 1)	4 277 649.25
Bénéfice non réalisé sur swaps (note 1)	30 047 109.85
Crédit en compte courant	-18 449 077.92
Autres engagements à court terme (marges)	-7 759 689.38
A payer sur achats de titres (note 1)	-42 580.31
A payer sur rachats	-4 116 246.30
Provisions pour commission de gestion forfaitaire (note 2)	-765 663.63
Provisions pour taxe d’abonnement (note 3)	-66 686.06
Provisions pour autres commissions et frais (note 2)		-119 014.74		 Total des Provisions pour frais			-951 364.43

## Etat des opérations
USD
Revenus d’intérêts sur liquidités	354 934.07
Intérêts sur titres	34 835 417.51
Dividendes	4 168.18
Revenus d’intérêts sur swaps (note 1)	17 281 961.37
Revenus nets sur prêts de titres (note 17)	457 016.85
Autres revenus (note 4)	582 363.10
Charges d’intérêts sur swaps (note 1)	-18 156 801.62
Commission de gestion forfaitaire (note 2)	-10 666 329.70
Taxe d’abonnement (note 3)	-450 737.20
Autres commissions et frais (note 2)	-153 775.82
Charges d’intérêts sur liquidités et crédit en compte courant	-462 828.99
Bénéfice (perte) réalisé(e) sur titres évalués à la valeur de marché hors options	-3 525 824.51
Bénéfice (perte) réalisé(e) sur options	219 911.31
Bénéfice (perte) réalisé(e) sur contrats financiers à terme	54 674 041.34
Bénéfice (perte) réalisé(e) sur contrats de change à terme	-38 151 408.58
Bénéfice (perte) réalisé(e) sur swaps	-6 984 008.36
Bénéfice (perte) réalisé(e) de change réalisé(e)	-7 451 042.79
Plus- (Moins-) value non réalisée sur titres évalués à la valeur de marché hors options	-239 515 020.56
Plus- (Moins-) value non réalisée sur contrats financiers à terme	14 010 458.91
Plus- (Moins-) value non réalisée sur contrats de change à terme	23 109 953.86
Plus- (Moins-) value non réalisée sur swaps	28 596 153.06
* Au 31 mai 2022, des avoirs en banque ont été utilisés à titre de sûreté, à hauteur de 420 000.00 USD en faveur de Bank of America, à hauteur de 3 050 000.00 USD en faveur de Citibank et à hauteur de 1 281 000.00 USD en faveur de Morgan Stanley London.
UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport annuel et états financiers révisés au 31 mai 2022
| Variations de l’actif net |  |
| --- | --- |
|  | USD |
|  | 1.6.2021-31.5.2022 |
| Actif net au début de l’exercice | 1 387 273 948.99 |
| Souscriptions | 401 328 899.79 |
| Rachats | 	-561 049 374.18	 |
| Souscriptions (Rachats) net(te)s | -159 720 474.39 |
| Dividendes versés | -2 735 332.18 |
| Revenus (Pertes) net(te)s des investissements | 23 625 387.75 |
| Total des Bénéfices (pertes) réalisé(e)s | -1 218 331.59 |
| Total des Variations des plus- (moins-) values non-réalisées | 	-173 798 454.73	 |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | -151 391 398.57 |
| Actifs nets à la fin de l’exercice | 1 073 426 743.85 |
| Evolution des actions en circulation |  |
|  | 1.6.2021-31.5.2022 |
| Catégorie | (EUR hedged) I-A1-acc |
| Nombre d’actions en circulation au début de l’exercice | 696 720.5160 |
| Nombre d’actions émises | 118 518.0530 |
| Nombre d’actions rachetées | -492 435.8510 |
| Nombre d’actions en circulation à la fin de l’exercice | 322 802.7180 |
| Catégorie | I-A2-acc |
| Nombre d’actions en circulation au début de l’exercice | 984 720.2910 |
| Nombre d’actions émises | 466 293.2650 |
| Nombre d’actions rachetées | -1 451 013.5560 |
| Nombre d’actions en circulation à la fin de l’exercice | 0.0000 |
| Catégorie | I-A3-acc |
| Nombre d’actions en circulation au début de l’exercice | 0.0000 |
| Nombre d’actions émises | 1 099 363.5360 |
| Nombre d’actions rachetées | -91 083.8990 |
| Nombre d’actions en circulation à la fin de l’exercice | 1 008 279.6370 |
| Catégorie | (EUR hedged) I-A3-acc |
| Nombre d’actions en circulation au début de l’exercice | 43 257.2780 |
| Nombre d’actions émises | 6 495.8940 |
| Nombre d’actions rachetées | -16 540.5390 |
| Nombre d’actions en circulation à la fin de l’exercice | 33 212.6330 |
| Catégorie | I-B-acc |
| Nombre d’actions en circulation au début de l’exercice | 296 804.2700 |
| Nombre d’actions émises | 29 102.1040 |
| Nombre d’actions rachetées | -217 489.3000 |
| Nombre d’actions en circulation à la fin de l’exercice | 108 417.0740 |
| Catégorie | (EUR hedged) I-B-acc |
| Nombre d’actions en circulation au début de l’exercice | 410 405.4760 |
| Nombre d’actions émises | 102 573.1130 |
| Nombre d’actions rachetées | -185 973.6740 |
| Nombre d’actions en circulation à la fin de l’exercice | 327 004.9150 |
| Catégorie | I-X-acc |
| Nombre d’actions en circulation au début de l’exercice | 378 558.2010 |
| Nombre d’actions émises | 19 705.3390 |
| Nombre d’actions rachetées | -108 677.8440 |
| Nombre d’actions en circulation à la fin de l’exercice | 289 585.6960 |
| Catégorie | (CHF hedged) I-X-acc |
| Nombre d’actions en circulation au début de l’exercice | 511 993.5060 |
| Nombre d’actions émises | 312 646.4250 |
| Nombre d’actions rachetées | -217.5670 |
| Nombre d’actions en circulation à la fin de l’exercice | 824 422.3640 |
| Catégorie | (EUR hedged) I-X-acc |
| Nombre d’actions en circulation au début de l’exercice | 121 225.2080 |
| Nombre d’actions émises | 111 700.5850 |
| Nombre d’actions rachetées | -77 030.2540 |
| Nombre d’actions en circulation à la fin de l’exercice | 155 895.5390 |
| Catégorie | K-B-acc |
| Nombre d’actions en circulation au début de l’exercice | 326 900.0000 |
| Nombre d’actions émises | 0.0000 |
| Nombre d’actions rachetées | -30 248.0340 |
| Nombre d’actions en circulation à la fin de l’exercice | 296 651.9660 |
| Catégorie | K-X-acc |
| Nombre d’actions en circulation au début de l’exercice | 164 788.8360 |
| Nombre d’actions émises | 82 719.8270 |
| Nombre d’actions rachetées | -24 000.0000 |
| Nombre d’actions en circulation à la fin de l’exercice | 223 508.6630 |

UBS (Lux) Bond SICAV – Global Dynamic (USD)
Rapport annuel et états financiers révisés au 31 mai 2022
| Catégorie | K-X-dist |
| --- | --- |
| Nombre d’actions en circulation au début de l’exercice | 149 093.0950 |
| Nombre d’actions émises | 0.0000 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de l’exercice | 149 093.0950 |
| Catégorie | P-4%-mdist |
| Nombre d’actions en circulation au début de l’exercice | 43 916.0810 |
| Nombre d’actions émises | 9 164.3380 |
| Nombre d’actions rachetées | -22 969.6250 |
| Nombre d’actions en circulation à la fin de l’exercice | 30 110.7940 |
| Catégorie | P-acc |
| Nombre d’actions en circulation au début de l’exercice | 649 268.7490 |
| Nombre d’actions émises | 110 041.5310 |
| Nombre d’actions rachetées | -136 596.2350 |
| Nombre d’actions en circulation à la fin de l’exercice | 622 714.0450 |
| Catégorie | (CHF hedged) P-acc |
| Nombre d’actions en circulation au début de l’exercice | 124 770.3430 |
| Nombre d’actions émises | 11 988.6590 |
| Nombre d’actions rachetées | -35 705.8360 |
| Nombre d’actions en circulation à la fin de l’exercice | 101 053.1660 |
| Catégorie | (EUR hedged) P-acc |
| Nombre d’actions en circulation au début de l’exercice | 2 792 700.8260 |
| Nombre d’actions émises | 367 322.4900 |
| Nombre d’actions rachetées | -786 461.9820 |
| Nombre d’actions en circulation à la fin de l’exercice | 2 373 561.3340 |
| Catégorie | P-dist |
| Nombre d’actions en circulation au début de l’exercice | 44 236.5250 |
| Nombre d’actions émises | 29 056.2130 |
| Nombre d’actions rachetées | -24 999.4940 |
| Nombre d’actions en circulation à la fin de l’exercice | 48 293.2440 |
| Catégorie | (CHF hedged) P-dist |
| Nombre d’actions en circulation au début de l’exercice | 40 564.8980 |
| Nombre d’actions émises | 3 323.7450 |
| Nombre d’actions rachetées | -7 735.0750 |
| Nombre d’actions en circulation à la fin de l’exercice | 36 153.5680 |
| Catégorie | (EUR hedged) P-dist |
| Nombre d’actions en circulation au début de l’exercice | 145 771.3230 |
| Nombre d’actions émises | 12 456.1330 |
| Nombre d’actions rachetées | -57 425.9090 |
| Nombre d’actions en circulation à la fin de l’exercice | 100 801.5470 |
| Catégorie | Q-4%-mdist |
| Nombre d’actions en circulation au début de l’exercice | 128 104.7630 |
| Nombre d’actions émises | 95 809.8970 |
| Nombre d’actions rachetées | -86 359.9370 |
| Nombre d’actions en circulation à la fin de l’exercice | 137 554.7230 |
| Catégorie | Q-acc |
| Nombre d’actions en circulation au début de l’exercice | 983 891.7330 |
| Nombre d’actions émises | 273 627.4530 |
| Nombre d’actions rachetées | -452 534.5800 |
| Nombre d’actions en circulation à la fin de l’exercice | 804 984.6060 |
| Catégorie | (CHF hedged) Q-acc |
| Nombre d’actions en circulation au début de l’exercice | 474 582.3430 |
| Nombre d’actions émises | 40 330.6040 |
| Nombre d’actions rachetées | -102 668.2800 |
| Nombre d’actions en circulation à la fin de l’exercice | 412 244.6670 |
| Catégorie | (EUR hedged) Q-acc |
| Nombre d’actions en circulation au début de l’exercice | 845 260.0870 |
| Nombre d’actions émises | 153 232.2240 |
| Nombre d’actions rachetées | -381 353.0170 |
| Nombre d’actions en circulation à la fin de l’exercice | 617 139.2940 |
| Catégorie | Q-dist |
| Nombre d’actions en circulation au début de l’exercice | 235 677.3560 |
| Nombre d’actions émises | 16 636.6850 |
| Nombre d’actions rachetées | -32 453.0880 |
| Nombre d’actions en circulation à la fin de l’exercice | 219 860.9530 |
| Catégorie | (CHF hedged) Q-dist |
| Nombre d’actions en circulation au début de l’exercice | 153 651.6680 |
| Nombre d’actions émises | 16 043.6020 |
| Nombre d’actions rachetées | -25 824.3440 |
| Nombre d’actions en circulation à la fin de l’exercice | 143 870.9260 |
| Catégorie | (EUR hedged) Q-dist |
| Nombre d’actions en circulation au début de l’exercice | 68 774.5520 |
| Nombre d’actions émises | 3 768.3180 |
| Nombre d’actions rachetées | -14 730.1520 |
| Nombre d’actions en circulation à la fin de l’exercice | 57 812.7180 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport annuel et états financiers révisés au 31 mai 2022
| Distribution annuelle 1 |  |
| --- | --- |
| UBS (Lux) Bond SICAV – Global Dynamic (USD) | Date de détachement | Date de versement | Devise | Montant par action |
| K-X-dist | 2.8.2021 | 5.8.2021 | USD | 3.27 |
| P-dist | 2.8.2021 | 5.8.2021 | USD | 1.62 |
| (CHF hedged) P-dist | 2.8.2021 | 5.8.2021 | CHF | 1.68 |
| (EUR hedged) P-dist | 2.8.2021 | 5.8.2021 | EUR | 1.59 |
| Q-dist | 2.8.2021 | 5.8.2021 | USD | 2.68 |
| (CHF hedged) Q-dist | 2.8.2021 | 5.8.2021 | CHF | 2.18 |
| (EUR hedged) Q-dist | 2.8.2021 | 5.8.2021 | EUR | 2.44 |
| Distribution mensuelle 1 |  |  |  |  |
| UBS (Lux) Bond SICAV – Global Dynamic (USD) | Date de détachement | Date de versement | Devise | Montant par action |
| P-4%-mdist | 10.6.2021 | 15.6.2021 | USD | 0.33 |
| P-4%-mdist | 12.7.2021 | 15.7.2021 | USD | 0.33 |
| P-4%-mdist | 10.8.2021 | 13.8.2021 | USD | 0.33 |
| P-4%-mdist | 10.9.2021 | 15.9.2021 | USD | 0.33 |
| P-4%-mdist | 11.10.2021 | 14.10.2021 | USD | 0.33 |
| P-4%-mdist | 10.11.2021 | 15.11.2021 | USD | 0.32 |
| P-4%-mdist | 10.12.2021 | 15.12.2021 | USD | 0.32 |
| P-4%-mdist | 10.1.2022 | 13.1.2022 | USD | 0.32 |
| P-4%-mdist | 10.2.2022 | 15.2.2022 | USD | 0.32 |
| P-4%-mdist | 10.3.2022 | 15.3.2022 | USD | 0.31 |
| P-4%-mdist | 11.4.2022 | 14.4.2022 | USD | 0.30 |
| P-4%-mdist | 10.5.2022 | 13.5.2022 | USD | 0.30 |
| Q-4%-mdist | 10.6.2021 | 15.6.2021 | USD | 0.33 |
| Q-4%-mdist | 12.7.2021 | 15.7.2021 | USD | 0.33 |
| Q-4%-mdist | 10.8.2021 | 13.8.2021 | USD | 0.33 |
| Q-4%-mdist | 10.9.2021 | 15.9.2021 | USD | 0.33 |
| Q-4%-mdist | 11.10.2021 | 14.10.2021 | USD | 0.33 |
| Q-4%-mdist | 10.11.2021 | 15.11.2021 | USD | 0.32 |
| Q-4%-mdist | 10.12.2021 | 15.12.2021 | USD | 0.32 |
| Q-4%-mdist | 10.1.2022 | 13.1.2022 | USD | 0.32 |
| Q-4%-mdist | 10.2.2022 | 15.2.2022 | USD | 0.32 |
| Q-4%-mdist | 10.3.2022 | 15.3.2022 | USD | 0.31 |
| Q-4%-mdist | 11.4.2022 | 14.4.2022 | USD | 0.31 |
| Q-4%-mdist | 10.5.2022 | 13.5.2022 | USD | 0.30 |
| 1  Voir note 5 |  |  |  |  |

UBS (Lux) Bond SICAV – Global Dynamic (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 |  |  |  |
| BRL |  |  |  |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF 10.00000% 16-01.01.27 | 10 250.00 | 1 988 338.34 | 0.19 |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF 10.00000% 20-01.01.31 | 70 550.00 | 13 004 016.62 | 1.21 |
| Total BRL |  | 14 992 354.96 | 1.40 |
| CAD |  |  |  |
| CAD	QUEBEC, PROVINCE OF 2.30000% 19-01.09.29 | 2 500 000.00 | 1 831 899.04 | 0.17 |
| Total CAD |  | 1 831 899.04 | 0.17 |
| EUR |  |  |  |
| EUR	ALTICE FINCO SA-REG-S 4.75000% 17-15.01.28 | 1 000 000.00 | 891 721.35 | 0.08 |
| EUR	ALTICE FRANCE HOLDING SA-REG-S 8.00000% 19-15.05.27 | 3 125 000.00 | 3 138 427.73 | 0.29 |
| EUR	ALTICE FRANCE HOLDING SA-REG-S 4.00000% 20-15.02.28 | 2 020 000.00 | 1 712 075.82 | 0.16 |
| EUR	ALTICE FRANCE-REG-S 5.87500% 18-01.02.27 | 2 240 000.00 | 2 288 666.50 | 0.21 |
| EUR	ARD FINANCE SA-REG-S (PIK) 5.00000% 19-30.06.27 | 2 202 600.00 | 1 861 083.43 | 0.17 |
| EUR	BACARDI LTD-REG-S 2.75000% 13-03.07.23 | 200 000.00 | 217 007.39 | 0.02 |
| EUR	BOUYGUES SA 3.25000% 22-30.06.37 | 2 100 000.00 | 2 227 641.67 | 0.21 |
| EUR	BP CAPITAL MARKETS BV-REG-S 0.93300% 20-04.12.40 | 790 000.00 | 566 464.23 | 0.05 |
| EUR	BULGARIAN ENERGY HOLDING EAD-REG-S 2.45000% 21-22.07.28 | 2 115 000.00 | 1 874 861.58 | 0.18 |
| EUR	CASINO GUICHARD PERRACHON SA-REG-S 6.62500% 20-15.01.26 | 2 700 000.00 | 2 447 082.31 | 0.23 |
| EUR	CHINA, PEOPLE’S REPUBLIC OF-REG-S 1.00000% 19-12.11.39 | 2 810 000.00 | 2 408 170.00 | 0.22 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 2.87500% 21-11.02.25 | 2 000 000.00 | 2 075 546.87 | 0.19 |
| EUR	DKT FINANCE APS-REG-S 7.00000% 18-17.06.23 | 5 225 000.00 | 5 541 308.43 | 0.52 |
| EUR	EG GLOBAL FINANCE PLC-REG-S 6.25000% 19-30.10.25 | 500 000.00 | 514 200.00 | 0.05 |
| EUR	FISERV INC 1.62500% 19-01.07.30 | 495 000.00 | 478 503.92 | 0.05 |
| EUR	GOLDMAN SACHS GROUP INC-REG-S 3.37500% 20-27.03.25 | 710 000.00 | 788 843.33 | 0.07 |
| EUR	GTC AURORA LUXEMBOURG SA-REG-S 2.25000% 21-23.06.26 | 1 315 000.00 | 1 151 748.01 | 0.11 |
| EUR	INTERNATIONAL GAME TECHNOLOGY PLC-REG-S 2.37500% 19-15.04.28 | 520 000.00 | 486 782.60 | 0.05 |
| EUR	JAGUAR LAND ROVER AUTOMOTIVE PLC-REG-S 4.50000% 18-15.01.26 | 1 700 000.00 | 1 648 482.35 | 0.15 |
| EUR	JAGUAR LAND ROVER AUTOMOTIVE PLC-REG-S 4.50000% 21-15.07.28 | 1 635 000.00 | 1 423 046.63 | 0.13 |
| EUR	LOXAM SAS-REG-S 3.75000% 19-15.07.26 | 1 700 000.00 | 1 707 253.69 | 0.16 |
| EUR	LVMH MOET HENNESSY LOUIS VUITTON-REG-S 0.12500% 20-11.02.28 | 1 300 000.00 | 1 267 428.01 | 0.12 |
| EUR	MACIF-REG-S-SUB 0.62500% 21-21.06.27 | 1 000 000.00 | 944 750.37 | 0.09 |
| EUR	NATIONAL GRID ELECTRICITY TRANS-REG-S 0.19000% 20-20.01.25 | 535 000.00 | 549 605.98 | 0.05 |
| EUR	SOFTBANK GROUP CORP-REG-S 5.00000% 18-15.04.28 | 1 200 000.00 | 1 162 112.83 | 0.11 |
| EUR	TELE COLUMBUS AG-REG-S 3.87500% 18-02.05.25 | 2 870 000.00 | 2 724 776.84 | 0.25 |
| EUR	TEVA PHARMACEUTICAL FINANCE II BV 4.50000% 18-01.03.25 | 1 500 000.00 | 1 598 639.77 | 0.15 |
| EUR	TRITAX EUROBOX PLC-REG-S 0.95000% 21-02.06.26 | 760 000.00 | 744 243.82 | 0.07 |
| EUR	UKRAINE, GOVERNMENT OF-REG-S 4.37500% 20-27.01.30 | 2 600 000.00 | 995 726.88 | 0.09 |
| EUR	VERISURE MIDHOLDING AB-REG-S 5.25000% 21-15.02.29 | 715 000.00 | 643 423.38 | 0.06 |
| Total EUR |  | 46 079 625.72 | 4.29 |
| GBP |  |  |  |
| GBP	CPUK FINANCE LTD-REG-S 4.50000% 21-28.08.27 | 530 000.00 | 616 798.67 | 0.06 |
| GBP	VIRGIN MEDIA SECURED FINANCE PLC-REG-S 5.25000% 19-15.05.29 | 1 000 000.00 | 1 162 626.75 | 0.11 |
| Total GBP |  | 1 779 425.42 | 0.17 |
| USD |  |  |  |
| USD	3M CO 2.65000% 20-15.04.25 | 355 000.00 | 351 160.69 | 0.03 |
| USD	ABBVIE INC 4.25000% 18-14.11.28 | 300 000.00 | 304 269.10 | 0.03 |
| USD	ADOBE INC 2.15000% 20-01.02.27 | 380 000.00 | 361 420.06 | 0.03 |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 4.50000% 20-15.09.23 | 240 000.00 | 240 827.73 | 0.02 |
| USD	AERCAP IRELAND CAP/ GLBL AVIATION TRUST 6.50000% 20-15.07.25 | 310 000.00 | 323 578.09 | 0.03 |
| USD	AERCAP IRELAND CAPITAL DAC / AERCAP GLO 3.00000% 21-29.10.28 | 2 690 000.00 | 2 360 282.59 | 0.22 |
| USD	ALIBABA GROUP HOLDING LTD 3.40000% 17-06.12.27 | 400 000.00 | 384 916.00 | 0.04 |
| USD	ALTRIA GROUP INC 4.25000% 12-09.08.42 | 150 000.00 | 120 455.79 | 0.01 |
| USD	ALTRIA GROUP INC 4.80000% 19-14.02.29 | 56 000.00 | 55 945.66 | 0.01 |
| USD	AMERICAN EXPRESS CO 3.40000% 18-27.02.23 | 750 000.00 | 755 970.99 | 0.07 |
| USD	ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.75000% 19-23.01.29 | 125 000.00 | 130 008.79 | 0.01 |
| USD	ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.50000% 20-01.06.50 | 730 000.00 | 694 353.79 | 0.06 |
| USD	ANTHEM INC 3.65000% 17-01.12.27 | 150 000.00 | 148 899.68 | 0.01 |
| USD	APPLE INC 1.80000% 19-11.09.24 | 165 000.00 | 161 927.28 | 0.02 |
| USD	APT PIPELINES LTD-REG-S 4.20000% 15-23.03.25 | 1 000 000.00 | 1 004 536.50 | 0.09 |
| USD	ARGENTINA, REPUBLIC OF STEP-UP 20-09.07.35 | 970 000.00 | 263 840.00 | 0.02 |
| USD	ARGENTINA, REPUBLIC OF STEP-UP 20-09.01.38 | 210 305.00 | 73 186.14 | 0.01 |
| USD	ARGENTINA, REPUBLIC OF 1.00000% 20-09.07.29 | 55 703.00 | 16 488.09 | 0.00 |
| USD	AT&T INC 4.35000% 19-01.03.29 | 800 000.00 | 809 733.96 | 0.08 |
| USD	AT&T INC 4.75000% 15-15.05.46 | 200 000.00 | 197 073.76 | 0.02 |
| USD	BOEING CO/THE 2.19600% 21-04.02.26 | 1 230 000.00 | 1 126 428.94 | 0.11 |
| USD	CHEVRON USA INC 3.85000% 21-15.01.28 | 250 000.00 | 254 105.05 | 0.02 |
| USD	CHILE, REPUBLIC OF 3.86000% 17-21.06.47 | 600 000.00 | 529 050.00 | 0.05 |
| USD	CIGNA CORP 2.40000% 20-15.03.30 | 715 000.00 | 631 742.11 | 0.06 |
| USD	CIGNA CORP 4.37500% 19-15.10.28 | 170 000.00 | 172 608.78 | 0.02 |
| USD	CIGNA CORP 4.90000% 19-15.12.48 | 50 000.00 | 49 855.92 | 0.00 |
| USD	CITIGROUP INC-SUB 4.60000% 16-09.03.26 | 200 000.00 | 202 777.69 | 0.02 |
| USD	CNOOC PETROLEUM NORTH AMERICA ULC 6.40000% 07-15.05.37 | 575 000.00 | 638 208.26 | 0.06 |
| USD	COCA-COLA FEMSA SA 2.75000% 20-22.01.30 | 565 000.00 | 515 014.45 | 0.05 |
| USD	COLOMBIA, REPUBLIC OF 5.20000% 19-15.05.49 | 1 000 000.00 | 790 187.51 | 0.07 |
| USD	COMCAST CORP 3.95000% 18-15.10.25 | 95 000.00 | 96 911.49 | 0.01 |
| USD	COMCAST CORP 4.15000% 18-15.10.28 | 700 000.00 | 716 121.89 | 0.07 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 4.25000% 12-26.01.23 | 2 000 000.00 | 2 006 000.00 | 0.19 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 7.15800% 15-12.03.45 | 1 000 000.00 | 939 562.51 | 0.09 |
| USD	CVS HEALTH CORP 2.62500% 19-15.08.24 | 560 000.00 | 554 002.34 | 0.05 |
| USD	CVS HEALTH CORP 4.30000% 18-25.03.28 | 68 000.00 | 68 847.37 | 0.01 |
| USD	DISCOVERY COMMUNICATIONS LLC 5.30000% 19-15.05.49 | 500 000.00 | 461 767.65 | 0.04 |
| USD	ECUADOR GOVT INTERNATIONAL BD-REG-S STEP-UP/DOWN 20-31.07.35 | 802 386.00 | 512 423.76 | 0.05 |

UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport annuel et états financiers révisés au 31 mai 2022
|  | Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| USD | ECUADOR, REPUBLIC OF-REG-S STEP-UP 0.50000% 20-31.07.30 | 306 180.00 | 253 325.68 | 0.02 |
| USD | ECUADOR, REPUBLIC OF-REG-S STEP-UP 20-31.07.40 | 367 740.00 | 200 487.25 | 0.02 |
| USD | ENERGY TRANSFER LP 6.00000% 18-15.06.48 | 700 000.00 | 692 069.72 | 0.06 |
| USD | ENLINK MIDSTREAM PARTNERS LP 4.40000% 14-01.04.24 | 125 000.00 | 124 843.75 | 0.01 |
| USD | EQT CORP 3.90000% 17-01.10.27 | 2 340 000.00 | 2 255 502.60 | 0.21 |
| USD | EVERSOURCE ENERGY 2.90000% 22-01.03.27 | 1 810 000.00 | 1 738 985.69 | 0.16 |
| USD | FIRSTENERGY CORP 2.25000% 20-01.09.30 | 585 000.00 | 489 800.02 | 0.05 |
| USD | FISERV INC 3.20000% 19-01.07.26 | 620 000.00 | 602 094.48 | 0.06 |
| USD | FLOWSERVE CORP 3.50000% 20-01.10.30 | 1 450 000.00 | 1 291 725.09 | 0.12 |
| USD | FOMENTO ECONOMICO MEXIC SAB DE CV 3.50000% 20-16.01.50 | 760 000.00 | 625 419.20 | 0.06 |
| USD | FORD MOTOR CO 3.25000% 21-12.02.32 | 1 560 000.00 | 1 318 746.00 | 0.12 |
| USD | GENERAL MOTORS CO 6.12500% 20-01.10.25 | 705 000.00 | 746 243.95 | 0.07 |
| USD | GENERAL MOTORS FINANCIAL CO 4.35000% 18-09.04.25 | 300 000.00 | 302 387.10 | 0.03 |
| USD | GEORGIA POWER CO 2.10000% 20-30.07.23 | 480 000.00 | 476 146.53 | 0.04 |
| USD | GHANA GOVT INTNL BOND-REG-S 6.37500% 20-11.02.27 | 3 700 000.00 | 2 247 749.99 | 0.21 |
| USD | GILEAD SCIENCES INC 4.75000% 15-01.03.46 | 700 000.00 | 696 288.08 | 0.06 |
| USD | GOLDMAN SACHS GROUP INC 3.50000% 20-01.04.25 | 1 100 000.00 | 1 098 520.98 | 0.10 |
| USD | GUATEMALA, REPUBLIC OF-REG-S 5.75000% 12-06.06.22 | 500 000.00 | 499 300.00 | 0.05 |
| USD | HARTFORD FINANCIAL SERVICES GROUP INC 4.40000% 18-15.03.48 | 155 000.00 | 144 932.54 | 0.01 |
| USD | INDONESIA, REPUBLIC OF-REG-S 5.25000% 12-17.01.42 | 2 000 000.00 | 2 057 250.00 | 0.19 |
| USD | INTERNATIONAL BUSINESS MACHINES CORP 3.30000% 19-15.05.26 | 750 000.00 | 745 629.17 | 0.07 |
| USD | JPMORGAN CHASE & CO 3.20000% 13-25.01.23 | 500 000.00 | 503 786.52 | 0.05 |
| USD | JPMORGAN CHASE & CO-SUB 3.62500% 16-01.12.27 | 300 000.00 | 292 942.18 | 0.03 |
| USD | KENYA, REPUBLIC OF-REG-S 8.25000% 18-28.02.48 | 1 550 000.00 | 1 205 125.00 | 0.11 |
| USD | MEITUAN DIANPING-REG-S 3.05000% 20-28.10.30 | 3 600 000.00 | 2 736 675.00 | 0.26 |
| USD | MEXICHEM SAB DE CV-REG-S 4.00000% 17-04.10.27 | 200 000.00 | 190 700.00 | 0.02 |
| USD | MEXICHEM SAB DE CV-REG-S 5.50000% 17-15.01.48 | 200 000.00 | 175 400.00 | 0.02 |
| USD | MPLX LP 5.20000% 17-01.03.47 | 250 000.00 | 237 557.29 | 0.02 |
| USD | NATWEST GROUP PLC 3.87500% 16-12.09.23 | 200 000.00 | 201 169.58 | 0.02 |
| USD | NEPTUNE ENERGY BONDCO PLC-REG-S 6.62500% 18-15.05.25 | 3 250 000.00 | 3 223 317.50 | 0.30 |
| USD | NIGERIA, FEDERAL REPUBLIC OF-REG-S 9.24800% 18-21.01.49 | 1 500 000.00 | 1 211 250.00 | 0.11 |
| USD | PAYPAL HOLDINGS INC 2.65000% 19-01.10.26 | 295 000.00 | 284 276.73 | 0.03 |
| USD | PEGASUS HAVA TASIMACILIGI AS-REG-S 9.25000% 21-30.04.26 | 1 315 000.00 | 1 247 606.25 | 0.12 |
| USD | PETROLEOS MEXICANOS 6.37500% 14-23.01.45 | 2 700 000.00 | 1 926 044.99 | 0.18 |
| USD | PETROLEOS MEXICANOS 6.84000% 20-23.01.30 | 530 000.00 | 474 350.00 | 0.04 |
| USD | PHILIP MORRIS INTERNATIONAL INC 1.50000% 20-01.05.25 | 490 000.00 | 466 058.78 | 0.04 |
| USD | PHILIPPINES, REPUBLIC OF THE 2.45700% 20-05.05.30 | 2 435 000.00 | 2 188 724.10 | 0.20 |
| USD | PLAINS ALL AMERICAN PIPELINE LP 3.80000% 20-15.09.30 | 495 000.00 | 456 410.63 | 0.04 |
| USD | RELIANCE INDUSTRIES LTD-REG-S 3.62500% 22-12.01.52 | 3 500 000.00 | 2 624 475.00 | 0.24 |
| USD | REYNOLDS AMERICAN INC 5.70000% 15-15.08.35 | 400 000.00 | 396 658.31 | 0.04 |
| USD | ROPER TECHNOLOGIES INC 2.00000% 20-30.06.30 | 930 000.00 | 776 137.18 | 0.07 |
| USD | SANTOS FINANCE LTD-REG-S 3.64900% 21-29.04.31 | 1 540 000.00 | 1 341 121.01 | 0.12 |
| USD | SAUDI ARABIAN OIL CO-REG-S 1.62500% 20-24.11.25 | 420 000.00 | 393 750.00 | 0.04 |
| USD | SHIMAO PROPERTY HOLDINGS LTD-REG-S 4.60000% 20-13.07.30 | 200 000.00 | 25 000.00 | 0.00 |
| USD | SHIMAO PROPERTY HOLDINGS LTD-REG-S 3.45000% 21-11.01.31 | 725 000.00 | 85 912.50 | 0.01 |
| USD | SHIMAO PROPERTY HOLDINGS LTD-REG-S 5.20000% 21-16.01.27 | 970 000.00 | 126 100.00 | 0.01 |
| USD | SOUTH AFRICA, REPUBLIC OF 4.87500% 16-14.04.26 | 500 000.00 | 492 437.50 | 0.05 |
| USD | SOUTHWEST AIRLINES CO 4.75000% 20-04.05.23 | 345 000.00 | 350 550.94 | 0.03 |
| USD | SOUTHWEST AIRLINES CO 5.12500% 20-15.06.27 | 490 000.00 | 510 692.30 | 0.05 |
| USD | SPRINT CORP 7.87500% 14-15.09.23 | 1 000 000.00 | 1 047 500.00 | 0.10 |
| USD | SUNAC CHINA HOLDINGS LTD-REG-S 7.00000% 20-09.07.25 | 875 000.00 | 141 146.25 | 0.01 |
| USD | TURKEY, REPUBLIC OF 6.87500% 06-17.03.36 | 2 680 000.00 | 2 196 427.50 | 0.20 |
| USD | UKRAINE, GOVERNMENT OF-REG-S 7.37500% 17-25.09.32 | 1 650 000.00 | 596 475.00 | 0.06 |
| USD | UKRAINE, GOVERNMENT OF-REG-S 7.25300% 20-15.03.33 | 2 000 000.00 | 723 000.00 | 0.07 |
| USD | UNITED RENTALS NORTH AMERICA INC 3.87500% 19-15.11.27 | 1 000 000.00 | 963 416.70 | 0.09 |
| USD | URUGUAY, REPUBLIC OF 4.12500% 12-20.11.45 | 2 300 000.00 | 2 229 993.75 | 0.21 |
| USD | VEB FINANCE PLC-REG-S LPN 5.94200% 13-21.11.23 | 500 000.00 | 10 000.00 | 0.00 |
| USD | VERIZON COMMUNICATIONS INC 3.37600% 18-15.02.25 | 700 000.00 | 707 085.82 | 0.07 |
| USD | VICI PROPERTIES LP 5.12500% 22-15.05.32 | 1 070 000.00 | 1 060 990.60 | 0.10 |
| USD | VMWARE INC 1.00000% 21-15.08.24 | 1 040 000.00 | 984 630.82 | 0.09 |
| USD | WALT DISNEY CO 1.75000% 19-30.08.24 | 990 000.00 | 967 906.83 | 0.09 |
| USD | WESTPAC BANKING CORP-SUB 4.42100% 19-24.07.39 | 325 000.00 | 304 460.94 | 0.03 |
| USD | YPF SA-REG-S 6.95000% 17-21.07.27 | 400 000.00 | 267 450.00 | 0.02 |
| USD | YPF SA-REG-S 7.00000% 17-15.12.47 | 230 000.00 | 125 925.00 | 0.01 |
| Total USD |  |  | 74 102 576.73 | 6.90 |
| Total des Billets, taux fixe |  | 138 785 881.87 | 12.93 |
| Billets, coupon zéro |  |  |  |
| USD |  |  |  |
| USD	ECUADOR, REPUBLIC OF-REG-S 0.00000% 20-31.07.30 | 105 089.00 | 57 687.29 | 0.01 |
| Total USD |  | 57 687.29 | 0.01 |
| Total des Billets, coupon zéro |  | 57 687.29 | 0.01 |
| Billets, taux variable |  |  |  |
| EUR |  |  |  |
| EUR	BARCLAYS PLC-REG-S 0.577%VAR 21-09.08.29 | 3 235 000.00 | 2 954 797.80 | 0.27 |
| EUR	BPCE SA-REG-S-SUB 1.500%/VAR 21-13.01.42 | 2 600 000.00 | 2 491 879.61 | 0.23 |
| EUR	BRITISH AMERICAN TOBACCO PLC-REG-S -SUB 3.750%/VAR 21-PRP | 2 070 000.00 | 1 793 339.80 | 0.17 |
| EUR	CREDIT SUISSE GROUP-REG-S 2.125%/VAR 22-13.10.26 | 2 560 000.00 | 2 652 931.95 | 0.25 |
| EUR	CREDIT SUISSE GROUP-REG-S 2.875%/VAR 22-02.04.32 | 1 595 000.00 | 1 570 691.27 | 0.15 |
| EUR	DEUTSCHE BANK AG-REG-S-SUB 4.500%/VAR 21-PRP | 3 400 000.00 | 3 200 306.67 | 0.30 |
| EUR	ENI SPA-REG-S-SUB 3.375%/VAR 20-PRP | 375 000.00 | 354 597.68 | 0.03 |
| EUR	ITALY, REPUBLIC OF-144A-REG-S 2.350%/CPI LINKED 14-15.09.24 | 3 500 000.00 | 4 743 865.34 | 0.44 |
| EUR	RAKUTEN GROUP INC-REG-S-SUB 4.250%VAR 21-PRP | 2 210 000.00 | 1 898 441.90 | 0.18 |
| EUR	VOLKSWAGEN INTERNATIONAL FIN-REG-S-SUB 4.375%/VAR 22-PRP | 1 800 000.00 | 1 744 709.52 | 0.16 |
| EUR	WINTERSHALL DEA FINANCE 2BV-REG-S-SUB 2.498%/VAR 21-PRP | 1 900 000.00 | 1 660 401.93 | 0.15 |
| EUR	WINTERSHALL DEA FINANCE 2BV-REG-S-SUB 3.000%/VAR 21-PRP | 1 500 000.00 | 1 278 108.37 | 0.12 |
| Total EUR |  | 26 344 071.84 | 2.45 |

UBS (Lux) Bond SICAV – Global Dynamic (USD)
Rapport annuel et états financiers révisés au 31 mai 2022
|  | Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  |  | Nominal | Bénéfice/(perte) non | de |
|  |  |  | réalisé(e) sur futures/ | l’actif |
|  |  |  | Contrats de | net |
|  |  |  | change à terme/ |  |
|  |  |  | Swaps (note 1) |  |
| USD |  |  |  |  |
| USD | ALLIANZ SE-REG-S-SUB 3.500%/VAR 20-PRP | 800 000.00 | 700 968.08 | 0.07 |
| USD | CORP FINANCIERA DE DESARROL-REG-S-SUB 5.250%/VAR 14-15.07.29 | 500 000.00 | 486 031.25 | 0.05 |
| USD | CREDIT SUISSE GROUP AG-REG-S-SUB 6.250%/VAR 14-PRP | 480 000.00 | 465 000.00 | 0.04 |
| USD | DEUTSCHE BANK AG/NEW YORK NY 2.222%/VAR 20-18.09.24 | 355 000.00 | 345 991.09 | 0.03 |
| USD | ELECTRICITE DE FRANCE SA-REG-S-SUB 5.625%/VAR 14-PRP | 450 000.00 | 439 785.00 | 0.04 |
| USD | JPMORGAN CHASE & CO 2.739%/VAR 19-15.10.30 | 540 000.00 | 488 072.68 | 0.05 |
| USD | JPMORGAN CHASE & CO-SUB 2.956%/VAR 20-13.05.31 | 985 000.00 | 878 986.60 | 0.08 |
| USD | PRUDENTIAL PLC-SUB-REG-S 2.950%/VAR 21-03.11.33 | 3 105 000.00 | 2 738 157.60 | 0.25 |
| USD | SOCIETE GENERAL SA-REG-S-SUB 7.375%/VAR 18-PRP | 2 000 000.00 | 2 015 194.46 | 0.19 |
| USD | STANDARD CHARTERED PLC-REG-S 3.885%/VAR 18-15.03.24 | 400 000.00 | 400 722.38 | 0.04 |
| USD | VODAFONE GROUP PLC-SUB 3.250%/VAR 21-04.06.81 | 960 000.00 | 862 768.13 | 0.08 |
| USD | WESTPAC BANKING CORP-SUB 4.110%/VAR 19-24.07.34 | 450 000.00 | 425 114.73 | 0.04 |
| Total USD |  |  | 10 246 792.00 | 0.96 |
| Total des Billets, taux variable |  | 36 590 863.84 | 3.41 |
| Medium-Term Notes, taux fixe |  |  |  |
| EUR |  |  |  |
| EUR	A.P. MOELLER-MAERSK-REG-S 1.75000% 18-16.03.26 | 100 000.00 | 106 791.84 | 0.01 |
| EUR	AEROPORTI DI ROMA SPA-REG-S 1.75000% 21-30.07.31 | 1 090 000.00 | 944 356.39 | 0.09 |
| EUR	AROUNDTOWN SA-REG-S 2.00000% 18-02.11.26 | 100 000.00 | 100 912.82 | 0.01 |
| EUR	BANCO DE SABADELL SA-REG-S-SUB 2.50000% 21-15.04.31 | 3 200 000.00 | 3 038 065.01 | 0.28 |
| EUR	CAIXABANK SA-REG-S 0.37500% 20-03.02.25 | 700 000.00 | 721 435.24 | 0.07 |
| EUR	CANAL DE ISABEL II GESTION SA-REG-S 1.68000% 15-26.02.25 | 200 000.00 | 212 404.93 | 0.02 |
| EUR	CELLNEX FINANCE CO SA-REG-S 1.50000% 21-08.06.28 | 2 500 000.00 | 2 252 029.95 | 0.21 |
| EUR	CEZ AS-REG-S 2.37500% 22-06.04.27 | 805 000.00 | 838 305.14 | 0.08 |
| EUR	CPI PROPERTY GROUP SA-REG-S 2.75000% 20-12.05.26 | 930 000.00 | 929 612.53 | 0.09 |
| EUR	CTP NV-REG-S 0.87500% 22-20.01.26 | 3 885 000.00 | 3 614 786.76 | 0.34 |
| EUR	DANSKE BANK AS-REG-S-SUB 1.50000% 20-02.09.30 | 285 000.00 | 283 916.49 | 0.03 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 2.00000% 21-14.07.24 | 1 000 000.00 | 1 048 025.30 | 0.10 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 2.87500% 21-16.05.27 | 4 500 000.00 | 4 246 045.07 | 0.40 |
| EUR	DNB BANK ASA-REG-S 0.05000% 19-14.11.23 | 1 200 000.00 | 1 268 749.94 | 0.12 |
| EUR	EDP FINANCE BV-REG-S 1.50000% 17-22.11.27 | 1 010 000.00 | 1 037 772.99 | 0.10 |
| EUR	ELECTRICITE DE FRANCE-REG-S 2.00000% 19-09.12.49 | 300 000.00 | 220 702.36 | 0.02 |
| EUR	ELENIA VERKKO OYJ-REG-S 0.37500% 20-06.02.27 | 445 000.00 | 432 242.30 | 0.04 |
| EUR	ELIA TRANSMISSION BELGIUM SA-REG-S 0.87500% 20-28.04.30 | 300 000.00 | 280 652.93 | 0.02 |
| EUR	ELIS SA-REG-S 4.12500% 22-24.05.27 | 1 100 000.00 | 1 184 219.74 | 0.11 |
| EUR	FORD MOTOR CREDIT CO LLC 3.02100% 19-06.03.24 | 110 000.00 | 116 983.18 | 0.01 |
| EUR	GLOBALWORTH REAL ESTATE INVEST-REG-S 3.00000% 18-29.03.25 | 200 000.00 | 206 255.79 | 0.02 |
| EUR	KBC GROUP NV-REG-S 1.12500% 19-25.01.24 | 200 000.00 | 214 174.41 | 0.02 |
| EUR	LINDE PLC-REG-S 1.00000% 22-31.03.27 | 1 000 000.00 | 1 028 329.29 | 0.09 |
| EUR	NASSA TOPCO AS-REG-S 2.87500% 17-06.04.24 | 1 400 000.00 | 1 492 251.25 | 0.14 |
| EUR	NEW YORK LIFE GLOBAL FUNDING-REG-S 0.25000% 20-23.01.27 | 1 265 000.00 | 1 247 629.51 | 0.11 |
| EUR	ORANO SA-REG-S 3.37500% 19-23.04.26 | 1 000 000.00 | 1 057 820.81 | 0.10 |
| EUR	P3 GROUP SARL-REG-S 0.87500% 22-26.01.26 | 2 240 000.00 | 2 121 170.26 | 0.20 |
| EUR	PPF ARENA 1 BV-REG-S 2.12500% 19-31.01.25 | 4 750 000.00 | 4 809 591.12 | 0.45 |
| EUR	REDEXIS GAS FINANCE BV-REG-S 1.87500% 15-27.04.27 | 400 000.00 | 408 139.39 | 0.04 |
| EUR	REN FINANCE B V-REG-S 2.50000% 15-12.02.25 | 600 000.00 | 654 653.73 | 0.06 |
| EUR	ROMANIA-REG-S 4.62500% 19-03.04.49 | 4 000 000.00 | 3 656 444.07 | 0.34 |
| EUR	RWE AG-REG-S 2.75000% 22-24.05.30 | 2 400 000.00 | 2 557 476.54 | 0.24 |
| EUR	TDC NET A/S-REG-S 5.05600% 22-31.05.28 | 1 130 000.00 | 1 223 973.40 | 0.11 |
| EUR	TRATON FINANCE LUXEMBOURG SA-REG-S 1.25000% 21-24.03.33 | 1 300 000.00 | 1 085 952.27 | 0.10 |
| EUR	VODAFONE GROUP PLC-REG-S 2.50000% 19-24.05.39 | 230 000.00 | 212 445.15 | 0.02 |
| EUR	VOLKSWAGEN FINANCIAL SERVICES AG-REG-S 1.50000% 19-01.10.24 | 230 000.00 | 244 982.10 | 0.02 |
| EUR	VONOVIA SE-REG-S 1.62500% 21-01.09.51 | 900 000.00 | 586 024.11 | 0.05 |
| EUR	ZF FINANCE GMBH-REG-S 3.75000% 20-21.09.28 | 1 800 000.00 | 1 694 287.71 | 0.16 |
| Total EUR |  | 47 379 611.82 | 4.42 |
| GBP |  |  |  |
| GBP	AA BOND CO LTD-REG-S 3.25000% 21-31.07.28 | 485 000.00 | 545 319.01 | 0.05 |
| GBP	CHINA DEVELOPMENT BANK-REG-S 1.25000% 20-21.01.23 | 880 000.00 | 1 101 001.10 | 0.10 |
| GBP	CPI PROPERTY GROUP SA-REG-S 2.75000% 20-22.01.28 | 160 000.00 | 176 290.77 | 0.02 |
| GBP	LLOYDS BANKING GROUP PLC 2.25000% 17-16.10.24 | 100 000.00 | 122 771.12 | 0.01 |
| Total GBP |  | 1 945 382.00 | 0.18 |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 3.87500% 15-01.08.25 | 1 000 000.00 | 1 016 966.60 | 0.09 |
| USD	EGYPT, REPUBLIC OF-REG-S 8.70020% 19-01.03.49 | 2 000 000.00 | 1 465 000.00 | 0.14 |
| USD	GC TREASURY CENTER CO LTD-REG-S 4.40000% 22-30.03.32 | 1 840 000.00 | 1 746 932.80 | 0.16 |
| USD	GC TREASURY CENTER CO LTD-REG-S 5.20000% 22-30.03.52 | 645 000.00 | 591 129.60 | 0.05 |
| USD	INDIAN RAILWAY FINANCE CORP LTD-REG-S 2.80000% 21-10.02.31 | 2 725 000.00 | 2 259 433.75 | 0.21 |
| USD	KAZAKHSTAN, REPUBLIC OF-REG-S 5.12500% 15-21.07.25 | 2 000 000.00 | 2 088 500.00 | 0.19 |
| USD	MEXICO, UNITED STATES OF 4.75000% 12-08.03.44 | 1 800 000.00 | 1 619 100.00 | 0.15 |
| USD	MIRVAC GROUP FINANCE LTD-REG-S 3.62500% 17-18.03.27 | 200 000.00 | 195 722.00 | 0.02 |
| USD	MONGOLIA,GOVERNMENT OF-REG-S 8.75000% 17-09.03.24 | 2 190 000.00 | 2 245 160.62 | 0.21 |
| USD	MORGAN STANLEY-SUB 4.35000% 14-08.09.26 | 1 000 000.00 | 1 012 082.70 | 0.09 |
| USD	PERTAMINA PERSERO PT-REG-S 4.70000% 19-30.07.49 | 390 000.00 | 350 951.25 | 0.03 |
| USD	PHOENIX GROUP HOLDINGS PLC-REG-S-SUB 5.37500% 17-06.07.27 | 600 000.00 | 597 750.00 | 0.06 |
| USD	QTEL INTERNATIONAL FINANCE LTD-REG-S 2.62500% 21-08.04.31 | 795 000.00 | 701 587.50 | 0.07 |
| USD	REC LTD-REG-S 2.25000% 21-01.09.26 | 2 960 000.00 | 2 673 804.99 | 0.25 |
| USD	ROMANIA-REG-S 6.12500% 14-22.01.44 | 700 000.00 | 709 537.51 | 0.07 |
| USD	SAUDI ARABIAN OIL CO-REG-S 3.50000% 19-16.04.29 | 935 000.00 | 913 869.00 | 0.09 |
| Total USD |  | 20 187 528.32 | 1.88 |
| Total des Medium-Term Notes, taux fixe |  | 69 512 522.14 | 6.48 |
| Medium-Term Notes, taux variable |  |  |  |
| EUR |  |  |  |
| EUR	AXA SA-REG-S-SUB 3.250%/VAR 18-28.05.49 | 120 000.00 | 123 919.89 | 0.01 |
| EUR	BANCO DE SABADELL SA-REG-S 2.625%/VAR 22-24.03.26 | 600 000.00 | 626 862.50 | 0.06 |
| EUR	BANK OF IRELAND GROUP PLC-REG-S 1.875%/VAR 22-05.06.26 | 985 000.00 | 1 029 213.24 | 0.10 |
| EUR	BARCLAYS PLC-REG-S 3.375%/VAR 20-02.04.25 | 540 000.00 | 590 872.88 | 0.05 |

UBS (Lux) Bond SICAV – Global Dynamic (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) |  |
|  |  |  |  |  |
| EUR | CREDIT SUISSE GROUP AG-REG-S 0.650%/VAR 20-14.01.28 | 900 000.00 | 846 665.65 | 0.08 |
| EUR | DEUTSCHE BANK AG-REG-S 1.000%/VAR 20-19.11.25 | 1 300 000.00 | 1 339 382.16 | 0.12 |
| EUR | DEUTSCHE BANK AG-REG-S 1.750%/VAR 20-19.11.30 | 600 000.00 | 562 964.73 | 0.05 |
| EUR | DEUTSCHE BANK AG-REG-S 4.000%/VAR 22-24.06.32 | 900 000.00 | 924 942.96 | 0.09 |
| EUR | IBERDROLA INTERNATIONAL BV-REG-S-SUB 2.625%/VAR 18-PRP | 100 000.00 | 106 742.56 | 0.01 |
| EUR | NATWEST GROUP PLC-REG-S 2.000%/VAR 18-04.03.25 | 600 000.00 | 643 782.57 | 0.06 |
| EUR | NATWEST GROUP PLC-REG-S-SUB 1.043%/VAR 21-14.09.32 | 1 475 000.00 | 1 358 498.24 | 0.13 |
| EUR | TOTAL SE-REG-S-SUB 2.625%/VAR 15-PRP | 4 260 000.00 | 4 462 123.48 | 0.42 |
| Total EUR |  |  | 12 615 970.86 | 1.18 |
| GBP |  |  |  |  |
| GBP | ELECTRICITE DE FRANCE SA-REG-S-SUB 6.000%/VAR 13-PRP | 100 000.00 | 121 132.22 | 0.01 |
| Total GBP |  |  | 121 132.22 | 0.01 |
| USD |  |  |  |  |
| USD | HSBC BANK PLC-SUB 6M LIBOR+25BP 85-PRP | 1 000 000.00 | 790 000.00 | 0.07 |
| USD | MORGAN STANLEY 3.622%/VAR 20-01.04.31 | 500 000.00 | 476 254.81 | 0.04 |
| USD | WELLS FARGO & CO 3.526%/VAR 22-24.03.28 | 2 945 000.00 | 2 867 140.38 | 0.27 |
| Total USD |  |  | 4 133 395.19 | 0.38 |
| Total des Medium-Term Notes, taux variable |  | 16 870 498.27 | 1.57 |
| Obligations, taux fixe |  |  |  |
| CNY |  |  |  |
| CNY	CHINA DEVELOPMENT BANK CORP 3.80000% 16-25.01.36 | 80 000 000.00 | 12 708 385.32 | 1.18 |
| Total CNY |  | 12 708 385.32 | 1.18 |
| EUR |  |  |  |
| EUR	ABBOTT IRELAND FINCING DAC-REG-S 0.87500% 18-27.09.23 | 165 000.00 | 177 094.21 | 0.02 |
| EUR	ADLER REAL ESTATE AG-REG-S 1.87500% 18-27.04.23 | 800 000.00 | 685 600.00 | 0.06 |
| EUR	ADO PROPERTIES SA-REG-S 1.50000% 17-26.07.24 | 1 500 000.00 | 972 159.37 | 0.09 |
| EUR	ALSTRIA OFFICE REIT-AG-REG-S 1.50000% 20-23.06.26 | 600 000.00 | 563 393.52 | 0.05 |
| EUR	AUTOSTRADE PER L’ITALIA SPA REG-S 2.00000% 21-15.01.30 | 4 280 000.00 | 3 890 330.08 | 0.36 |
| EUR	BPCE SA-REG-S 0.25000% 20-15.01.26 | 800 000.00 | 808 552.07 | 0.08 |
| EUR	FINNAIR OYJ-REG-S 4.25000% 21-19.05.25 | 1 550 000.00 | 1 448 731.71 | 0.14 |
| EUR	GREECE, HELLENIC REPUBLIC OF-144A-REG-S 1.87500% 19-23.07.26 | 3 235 000.00 | 3 396 183.88 | 0.32 |
| EUR	INTRUM JUSTITIA AB-REG-S 3.12500% 17-15.07.24 | 570 000.00 | 587 201.61 | 0.06 |
| EUR	ITALY, REPUBLIC OF-BTP-144A-REG-S 3.250% 14-01.09.46 | 7 500 000.00 | 7 895 444.59 | 0.74 |
| EUR	ITALY, REPUBLIC OF-BTP 1.60000% 16-01.06.26 | 6 000 000.00 | 6 329 994.83 | 0.59 |
| EUR	ITALY, REPUBLIC OF-BTP-144A-REG-S 2.80000% 16-01.03.67 | 1 800 000.00 | 1 624 056.99 | 0.15 |
| EUR	ITALY, REPUBLIC OF-BTP-REG-S 0.95000% 20-01.08.30 | 11 000 000.00 | 10 130 772.68 | 0.94 |
| EUR	MAPFRE SA-REG-S-SUB 2.87500% 22-13.04.30 | 1 300 000.00 | 1 297 647.97 | 0.12 |
| EUR	MATTERHORN TELECOM SA-REG-S 3.12500% 19-15.09.26 | 1 220 000.00 | 1 202 841.49 | 0.11 |
| EUR	MPT OPERATING PARTNERSHIP LP/FIN CORP 3.32500% 17-24.03.25 | 800 000.00 | 837 972.88 | 0.08 |
| EUR	SLOVENIA, REPUBLIC OF-REG-S 1.50000% 15-25.03.35 | 6 000 000.00 | 5 843 908.71 | 0.54 |
| EUR	SLOVENIA, REPUBLIC OF-REG-S 3.12500% 15-07.08.45 | 7 000 000.00 | 8 417 271.88 | 0.78 |
| EUR	SLOVENIA, REPUBLIC OF-REG-S 0.48750% 20-20.10.50 | 8 433 000.00 | 5 331 128.57 | 0.50 |
| EUR	SPAIN, KINGDOM OF-144A-REG-S 2.15000%15-31.10.25 | 14 300 000.00 | 15 824 888.07 | 1.47 |
| EUR	SPAIN, KINGDOM OF-144A-REG-S 1.40000% 18-30.07.28 | 6 360 000.00 | 6 710 980.01 | 0.63 |
| EUR	SPAIN, KINGDOM OF-144A-REG-S 1.90000% 22-31.10.52 | 8 640 000.00 | 7 311 624.95 | 0.68 |
| EUR	SUMMER BIDCO BV-REG-S 9.00000% 19-15.11.25 | 1 250 000.00 | 1 299 156.61 | 0.12 |
| EUR	TAURON POLSKA ENERGIA SA-REG-S 2.37500% 17-05.07.27 | 1 000 000.00 | 933 192.66 | 0.09 |
| EUR	UMG GROUPE VYV 1.62500% 19-02.07.29 | 1 100 000.00 | 1 089 024.42 | 0.10 |
| EUR	UNITED GROUP BV-REG-S 3.12500% 20-15.02.26 | 2 160 000.00 | 1 977 264.58 | 0.18 |
| EUR	VOLKSWAGEN INTERNATIONAL FIN NV-REG-S 1.12500% 17-02.10.23 | 200 000.00 | 214 033.61 | 0.02 |
| Total EUR |  | 96 800 451.95 | 9.02 |
| GBP |  |  |  |
| GBP	BELLIS ACQUISITION CO PLC-REG-S 3.25000% 21-16.02.26 | 1 475 000.00 | 1 570 977.43 | 0.15 |
| GBP	BERKELEY GROUP PLC/THE-REG-S 2.50000% 21-11.08.31 | 835 000.00 | 835 416.86 | 0.08 |
| GBP	BUPA FINANCE PLC-REG-S-SUB 5.00000% 13-25.04.23 | 16 000.00 | 20 486.63 | 0.00 |
| GBP	DIGNITY FINANCE PLC-REG-S 4.69560% 14-31.12.49 | 151 000.00 | 182 715.92 | 0.02 |
| GBP	JERROLD FINCO PLC-REG-S 5.25000% 21-15.01.27 | 2 315 000.00 | 2 720 656.87 | 0.25 |
| GBP	PREMIER FOODS FINANCE PLC-REG-S 3.50000% 21-15.10.26 | 1 410 000.00 | 1 612 683.92 | 0.15 |
| GBP	ROTHESAY LIFE PLC-REG-S-SUB 3.37500% 19-12.07.26 | 845 000.00 | 1 032 225.35 | 0.10 |
| GBP	SCOTTISH WIDOWS PLC-REG-S-SUB 5.50000% 13-16.06.23 | 200 000.00 | 257 415.39 | 0.02 |
| GBP	UNITED KINGDOM OF GREAT BRITAIN-REG-S 1.50000% 16-22.07.47 | 3 000 000.00 | 3 121 839.22 | 0.29 |
| GBP	UNITED KINGDOM OF GREAT BRITAIN-REG-S 0.87500% 19-22.10.29 | 7 500 000.00 | 8 804 978.83 | 0.82 |
| GBP	VERY GROUP FUNDING PLC/THE-REG-S 6.50000% 21-01.08.26 | 2 650 000.00 | 2 799 750.15 | 0.26 |
| Total GBP |  | 22 959 146.57 | 2.14 |
| MXN |  |  |  |
| MXN	MEXICO, UNITED MEXICAN STATES 7.75000% 11-13.11.42 | 6 921 700.00 | 31 567 067.21 | 2.94 |
| Total MXN |  | 31 567 067.21 | 2.94 |
| NZD |  |  |  |
| NZD	NEW ZEALAND 1.50000% 19-15.05.31 | 34 000 000.00 | 18 628 535.59 | 1.74 |
| NZD	NEW ZEALAND 1.75000% 20-15.05.41 | 5 000 000.00 | 2 300 782.77 | 0.21 |
| NZD	NEW ZEALAND 4.50000% 14-15.04.27 | 200 000.00 | 136 147.49 | 0.01 |
| NZD	NEW ZEALAND-REG-S 2.75000% 16-15.04.25 | 200 000.00 | 127 754.14 | 0.01 |
| NZD	NEW ZEALAND-REG-S 2.75000% 16-15.04.37 | 46 800 000.00 | 26 709 715.30 | 2.49 |
| NZD	NEW ZEALAND-REG-S 5.50000% 11-15.04.23 | 200 000.00 | 132 986.48 | 0.01 |
| Total NZD |  | 48 035 921.77 | 4.47 |
| USD |  |  |  |
| USD	AMERICAN AIRLINES PASS THROUGH TRUST 4.37500% 14-01.10.22 | 605 000.00 | 212 450.58 | 0.02 |
| USD	BALTIMORE GAS & ELECTRIC CO 3.50000% 16-15.08.46 | 700 000.00 | 592 882.01 | 0.06 |
| USD	BRAZIL, FEDERATIVE REPUBLIC OF 7.12500% 06-20.01.37 | 1 500 000.00 | 1 622 156.25 | 0.15 |
| USD	CITIGROUP INC 3.87500% 13-25.10.23 | 600 000.00 | 612 329.99 | 0.06 |
| USD	COLOMBIA, REPUBLIC OF 6.12500% 09-18.01.41 | 1 900 000.00 | 1 721 043.75 | 0.16 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 2.70000% 21-12.07.26 | 920 000.00 | 515 200.00 | 0.05 |
| USD	HCA INC 5.37500% 15-01.02.25 | 1 000 000.00 | 1 033 690.00 | 0.10 |
| USD	KAZAKHSTAN, REPUBLIC OF-REG-S 4.87500% 14-14-10.44 | 1 200 000.00 | 1 083 225.00 | 0.10 |

UBS (Lux) Bond SICAV – Global Dynamic (USD)
Rapport annuel et états financiers révisés au 31 mai 2022
|  | Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| USD | MALAYSIA WAKALA SUKUK BHD-REG-S 3.07500% 21-28.04.51 | 1 035 000.00 | 877 356.57 | 0.08 |
| USD | MEXICO CITY AIRPORT TRUST-REG-S 5.50000% 17-31.07.47 | 650 000.00 | 490 750.00 | 0.05 |
| USD | MOROCCO, KINGDOM OF THE-REG-S 5.50000% 12-11.12.42 | 3 000 000.00 | 2 533 687.50 | 0.24 |
| USD | PACIFIC GAS & ELECTRIC CO 2.10000% 20-01.08.27 | 535 000.00 | 465 217.57 | 0.04 |
| USD | PACIFIC GAS & ELECTRIC CO 2.50000% 20-01.02.31 | 415 000.00 | 330 850.40 | 0.03 |
| USD | PERU, REPUBLIC OF 2.78300% 20-23.01.31 | 3 320 000.00 | 2 932 597.50 | 0.27 |
| USD | PETROLEOS DE VENEZUE-REG-S *DEFAULTED* 6.00000% 14-16.05.24 | 600 000.00 | 30 000.00 | 0.00 |
| USD | PHILLIPS 66 4.65000% 14-15.11.34 | 250 000.00 | 251 543.90 | 0.02 |
| USD | REYNOLDS AMERICAN INC 4.45000% 15-12.06.25 | 150 000.00 | 151 922.38 | 0.02 |
| USD | SOUTH AFRICA, REPUBLIC OF 6.30000% 18-22.06.48 | 500 000.00 | 436 500.00 | 0.04 |
| USD | SOUTHERN CALIFORNIA EDISON CO 2.85000% 19-01.08.29 | 500 000.00 | 450 078.96 | 0.04 |
| USD | SUNAC CHINA HOLDINGS LTD-REG-S 6.50000% 20-10.01.25 | 910 000.00 | 145 372.50 | 0.01 |
| USD | TURKEY, REPUBLIC OF 6.62500% 14-17.02.45 | 700 000.00 | 528 412.50 | 0.05 |
| Total USD |  |  | 17 017 267.36 | 1.59 |
| Total des Obligations, taux fixe |  | 229 088 240.18 | 21.34 |
| Obligations, taux variable |  |  |  |
| EUR |  |  |  |
| EUR	ABANCA CORP BANCARIA SA-REG-S-SUB 6.125%/VAR 19-18.01.29 | 1 700 000.00 | 1 866 653.13 | 0.17 |
| EUR	AG INSURANCE SA/NV-REG-S-SUB 3.500%/VAR 15-30.06.47 | 300 000.00 | 317 454.22 | 0.03 |
| EUR	BANCO DE SABADELL SA-REG-S-SUB 5.000%/VAR 21-PRP | 2 400 000.00 | 2 186 810.34 | 0.20 |
| EUR	BP CAPITAL MARKETS PLC-REG-S 3.250%/VAR 20-PRP | 490 000.00 | 509 154.62 | 0.05 |
| EUR	BP CAPITAL MARKETS PLC-REG-S-SUB 3.625%/VAR 20-PRP | 390 000.00 | 388 542.37 | 0.04 |
| EUR	ELM BV-REG-S-SUB 2.600%/VAR 15-PRP | 290 000.00 | 300 954.30 | 0.03 |
| EUR	HOLCIM FINANCE LUXEMBOURG SA-REG-S-SUB 3.000%/VAR 19-PRP | 200 000.00 | 211 430.04 | 0.02 |
| EUR	RABOBANK NEDERLAND NV-REG-S-SUB 3.250%/VAR 19-PRP | 1 000 000.00 | 952 341.25 | 0.09 |
| EUR	SES SA-REG-S-SUB 2.875%/VAR 21-PRP | 3 585 000.00 | 3 451 587.58 | 0.32 |
| EUR	UNIBAIL-RODAMCO SE-REG-S-SUB 2.125%/VAR 18-PRP | 200 000.00 | 204 030.27 | 0.02 |
| Total EUR |  | 10 388 958.12 | 0.97 |
| GBP |  |  |  |
| GBP	BARCLAYS PLC-REG-S-SUB 7.250%/VAR 17-PRP | 200 000.00 | 254 265.53 | 0.02 |
| GBP	CYBG PLC-REG-S-SUB 8.000%/VAR 16-PRP | 2 610 000.00 | 3 289 843.51 | 0.31 |
| GBP	M&G PLC-REG-S-SUB 5.625%/VAR 18-20.10.51 | 150 000.00 | 193 003.23 | 0.02 |
| GBP	SANTANDER UK GROUP HOLD PLC-REG-S-SUB 6.750%/VAR 17-PRP | 200 000.00 | 253 572.36 | 0.02 |
| Total GBP |  | 3 990 684.63 | 0.37 |
| NZD |  |  |  |
| NZD	NEW ZEALAND-REG-S 2.500%/CPI LINKED 14-20.09.35 | 4 000 000.00 | 3 242 303.84 | 0.30 |
| Total NZD |  | 3 242 303.84 | 0.30 |
| USD |  |  |  |
| USD	BP CAPITAL MARKETS PLC-SUB 4.875%/VAR 20-PRP | 485 000.00 | 453 518.97 | 0.04 |
| USD	CREDIT SUISSE GROUP AG-REG-S-SUB 7.500%/VAR 18-PRP | 2 880 000.00 | 2 844 923.33 | 0.26 |
| USD	QBE INSURANCE GROUP LTD-REG-S-SUB 6.750%/VAR 14-02.12.44 | 380 000.00 | 390 197.98 | 0.04 |
| USD	SCOR SE-REG-S-SUB 5.250%/VAR 18-PRP | 400 000.00 | 347 500.00 | 0.03 |
| USD	WESTPAC BANKING CORP-SUB 5.000%/VAR 17-PRP | 200 000.00 | 186 553.16 | 0.02 |
| Total USD |  | 4 222 693.44 | 0.39 |
| Total des Obligations, taux variable |  | 21 844 640.03 | 2.03 |
| Bons du Trésor à moyen terme, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 3.12500% 14-15.08.44 | 9 700 000.00 | 9 354 437.50 | 0.87 |
| USD	AMERICA, UNITED STATES OF 3.00000% 17-15.05.47 | 12 000 000.00 | 11 400 000.00 | 1.06 |
| USD	AMERICA, UNITED STATES OF 2.87500% 19-15.05.49 | 26 000 000.00 | 24 521 250.00 | 2.29 |
| USD	AMERICA, UNITED STATES OF 1.87500% 17-31.07.22 | 675 000.00 | 676 318.34 | 0.06 |
| USD	AMERICA, UNITED STATES OF 2.87500% 18-30.04.25 | 15 000 000.00 | 15 064 453.50 | 1.40 |
| USD	AMERICA, UNITED STATES OF 2.00000% 13-15.02.23 | 1 000 000.00 | 1 001 015.60 | 0.09 |
| USD	AMERICA, UNITED STATES OF 1.62500% 19-30.11.26 | 40 000 000.00 | 37 996 876.00 | 3.54 |
| USD	AMERICA, UNITED STATES OF 0.62500% 20-15.05.30 | 16 000 000.00 | 13 487 500.81 | 1.26 |
| USD	AMERICA, UNITED STATES OF 0.50000% 20-30.06.27 | 39 500 000.00 | 35 145 741.21 | 3.28 |
| USD	AMERICA, UNITED STATES OF 0.62500% 20-15.08.30 | 12 425 000.00 | 10 410 790.71 | 0.97 |
| USD	AMERICA, UNITED STATES OF 0.50000% 20-31.08.27 | 20 000 000.00 | 17 725 000.00 | 1.65 |
| USD	AMERICA, UNITED STATES OF TB 0.12500% 21-31.01.23 | 13 000 000.00 | 12 859 844.40 | 1.20 |
| Total USD |  | 189 643 228.07 | 17.67 |
| Total des Bons du Trésor à moyen terme, taux fixe |  | 189 643 228.07 | 17.67 |
| Bons du Trésor à moyen terme, taux variable |  |  |  |
| BRL |  |  |  |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF 6.000%/IPCA LINKD 10-15.08.50 | 1 050.00 | 894 255.72 | 0.08 |
| Total BRL |  | 894 255.72 | 0.08 |
| Total des Bons du Trésor à moyen terme, taux variable |  | 894 255.72 | 0.08 |
| Total des Titres et instruments du marché monétaire négociés sur une bourse officielle |  | 703 287 817.41 | 65.52 |
| Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  |  |  |
| Titres adossés à des actifs, taux fixe |  |  |  |
| USD |  |  |  |
| USD	DRIVE AUTO RECEIVABLES TRUST 4.30000% 18-15.04.26 | 1 000 000.00 | 893 337.88 | 0.08 |
| USD	DT AUTO OWNER TRUST-144A 4.19000% 18-15.07.24 | 1 000 000.00 | 418 192.03 | 0.04 |
| Total USD |  | 1 311 529.91 | 0.12 |
| Total des Titres adossés à des actifs, taux fixe |  | 1 311 529.91 | 0.12 |

UBS (Lux) Bond SICAV – Global Dynamic (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) |  |

Titres adossés à des actifs, taux variable
| USD |  |
| --- | --- |
| USD | SOFI PROFESSIONA LOAN PROGRAM LLC-144A VAR 17-26.03.40 | 850 000.00 | 842 189.44 | 0.08 |
| Total USD |  |  | 842 189.44 | 0.08 |
| Total des Titres adossés à des actifs, taux variable |  | 842 189.44 | 0.08 |
| Titres adossés à des hypothèques, taux fixe |  |  |  |
| USD |  |  |  |
| USD	BANK 2018-BNK14-SUB 4.23100% 18-01.09.60 | 900 000.00 | 907 858.53 | 0.09 |
| USD	BANK BNK-SUB 4.40700% 18-01.11.61 | 1 850 000.00 | 1 884 169.87 | 0.18 |
| USD	BENCHMARK MORTGAGE TRUST 3.94360% 18-01.07.51 | 1 350 000.00 | 1 330 848.50 | 0.12 |
| USD	BENCHMARK MORTGAGE TRUST 4.44100% 18-01.10.51 | 1 500 000.00 | 1 500 332.25 | 0.14 |
| USD	BENCHMARK MORTGAGE TRUST-SUB 4.51000% 18-01.05.53 | 2 000 000.00 | 2 047 379.40 | 0.19 |
| USD	BENCHMARK MORTGAGE TRUST-SUB 3.97900% 19-01.03.62 | 1 350 000.00 | 1 304 526.33 | 0.12 |
| USD	BWAY 2013-1515 MORTGAGE TRUST-144A 3.44620% 21-10.03.33 | 1 300 000.00 | 1 227 927.48 | 0.12 |
| USD	CITIGROUP COMMERCIAL MORTGAGE TRUST 3.96300% 18-01.06.51 | 1 000 000.00 | 899 325.91 | 0.08 |
| USD	CITIGROUP COMMERCIAL MORTGAGE TRUST 4.22800% 18-01.06.51 | 2 775 000.00 | 2 786 085.85 | 0.26 |
| USD	CITIGROUP COMMERCIAL MORTGAGE 3.36600% 16-01.11.49 | 1 500 000.00 | 1 441 012.95 | 0.13 |
| USD	COMM 2015-CCRE22 MORTGAGE TRUST 3.92600% 15-01.03.48 | 2 000 000.00 | 1 963 319.00 | 0.18 |
| USD	COMM MORTGAGE TRUST-SUB 4.22800% 18-01.05.51 | 2 500 000.00 | 2 513 949.00 | 0.23 |
| USD	CSAIL COMMERCIAL MORTGAGE TRUST-SUB 4.42160% 18-01.11.51 | 1 490 000.00 | 1 496 616.20 | 0.14 |
| USD	HUDSON YARDS 2016-10HY MORTGAGE-144A 2.83500% 16-01.08.38 | 2 950 000.00 | 2 788 534.70 | 0.26 |
| USD	JPMDB COMMERCIAL MORTGAGE TRT 4.42100% 18-01.06.51 | 1 150 000.00 | 1 134 122.53 | 0.11 |
| USD	MORGAN STANLEY BOA MERR LYH TRT 15-C24 3.73200% 15-01.05.48 | 800 000.00 | 793 930.00 | 0.07 |
| USD	MORGAN STANLEY CAPITAL INC-SUB 3.33000% 17-01.12.50 | 450 000.00 | 430 372.49 | 0.04 |
| USD	MORGAN STANLEY CAPITAL I TRUST-SUB 4.31000% 18-01.12.51 | 1 355 000.00 | 1 357 581.14 | 0.13 |
| USD	MSBAM LYNCH TRUST-SUB 3.99400% 16-01.12.49 | 600 000.00 | 584 317.68 | 0.06 |
| USD	WELLS FARGO COMMERCIAL MORTGAGE TRUST 4.21200% 18-01.05.51 | 1 400 000.00 | 1 410 132.64 | 0.13 |
| Total USD |  | 29 802 342.45 | 2.78 |
| Total des Titres adossés à des hypothèques, taux fixe |  | 29 802 342.45 | 2.78 |
| Titres adossés à des hypothèques, taux variable |  |  |  |
| USD |  |  |  |
| USD	AVENTURA MALL TRUST-144A FLR 18-01.07.40 | 2 060 000.00 | 2 015 632.55 | 0.19 |
| USD	BAMLL COMMERCIAL MORT SET-144A 1M LIBOR+135BP 18-15.09.34 | 1 575 000.00 | 1 511 862.82 | 0.14 |
| USD	BAMLL COMMERCIAL MORTGAGE-144A VAR 15-01.04.33 | 2 650 000.00 | 2 493 475.10 | 0.23 |
| USD	BANK 2017-BNK9 VAR 17-01.11.54 | 1 500 000.00 | 1 455 975.75 | 0.14 |
| USD	BANK-SUB FLR 18-01.02.61 | 895 000.00 | 826 499.30 | 0.08 |
| USD	BBCMS TRUST CBM-144A 1M LIBOR+119.1098BP 18-15.07.37 | 1 650 000.00 | 1 597 722.06 | 0.15 |
| USD	BENCHMARK 2018-B2 MORTGAGE TRUST-SUB FLR 18-01.02.51 | 1 400 000.00 | 1 360 300.20 | 0.13 |
| USD	BENCHMARK MORTGAGE TRUST-SUB FLR 18-01.10.51 | 1 500 000.00 | 1 479 121.50 | 0.14 |
| USD	BENCHMARK MORTGAGE TRUST-SUB FLR 18-01.10.51 | 1 950 000.00 | 1 827 363.72 | 0.17 |
| USD	BENCHMARK MORTGAGE TRUST FLR 18-01.01.52 | 2 000 000.00 | 1 997 558.20 | 0.19 |
| USD	BX TRUST-144A 1M LIBOR+80BP 18-15.05.35 | 1 300 000.00 | 1 266 654.87 | 0.12 |
| USD	BX TRUST-144A 1M LIBOR+122BP 18-15.05.35 | 2 000 000.00 | 1 939 888.60 | 0.18 |
| USD	CAMB COMM MORTGAGE TRUST-144A-SUB 1M LIBOR+145BP 19-15.12.37 | 500 000.00 | 486 879.10 | 0.04 |
| USD	CAMB COMM MORTGAGE TRUST-144A-SUB 1M LIBOR+175BP 19-15.12.37 | 1 620 000.00 | 1 573 270.45 | 0.15 |
| USD	CD MORTGAGE TRUST FLR 17-01.11.50 | 2 220 000.00 | 2 119 476.62 | 0.20 |
| USD	CSAIL 2015-C4 COMMERCIAL MORTGAGE TRUST-SUB VAR 15-01.11.48 | 500 000.00 | 479 472.75 | 0.04 |
| USD	GS MORTGAGE SECUR CORPII 4.560%/VAR 18-01.07.51 | 1 925 000.00 | 1 833 687.63 | 0.17 |
| USD	GS MORTGAGE SECURITIES CORP II 4.155%/VAR 18-01.07.51 | 330 000.00 | 333 137.77 | 0.03 |
| USD	GS MORTGAGE SECURITIES TRUST 4.047%/VAR 17-01.03.50 | 3 000 000.00 | 2 889 084.00 | 0.27 |
| USD	GS MORTGAGE SECURITIES TRUST-144A VAR 17-01.01.43 | 1 950 000.00 | 1 853 695.54 | 0.17 |
| USD	JP MORGAN CHASE MORTGAGE SECURITIES-144A-SUB FLR 18-01.01.31 | 2 045 000.00 | 2 031 446.56 | 0.19 |
| USD	JP MORGAN CHASE MORTGAGE SECURITIES-144A-SUB FLR 18-01.01.31 | 2 000 000.00 | 1 981 137.20 | 0.18 |
| USD	JPMCC COMMERCIAL MORTGAGE SEC TRUST VAR 17-01.09.50 | 3 200 000.00 | 2 932 542.40 | 0.27 |
| USD	JPMDB COMRCIAL MOTGE SECURTIES TRST 3.985%/VAR 17-01.10.50 | 2 000 000.00 | 1 922 544.60 | 0.18 |
| USD	MAD MORTGAGE TRUST-144A 2.975%/VAR 17-01.08.34 | 1 500 000.00 | 1 459 247.10 | 0.14 |
| USD	MAD MORTGAGE TRUST-144A 3.478%/VAR 17-01.08.34 | 1 500 000.00 | 1 437 351.60 | 0.13 |
| USD	MAD MORTGAGE TRUST-144A 3.599%/VAR 17-01.08.34 | 1 000 000.00 | 955 117.50 | 0.09 |
| USD	WELLS FARGO COMMERCIAL MORTGAGE FLR 17-01.12.50 | 1 400 000.00 | 1 341 396.00 | 0.12 |
| Total USD |  | 45 401 541.49 | 4.23 |
| Total des Titres adossés à des hypothèques, taux variable |  | 45 401 541.49 | 4.23 |
| Billets, taux fixe |  |  |  |
| CAD |  |  |  |
| CAD	ONTARIO, PROVINCE OF 2.70000% 19-02.06.29 | 6 000 000.00 | 4 518 739.78 | 0.42 |
| Total CAD |  | 4 518 739.78 | 0.42 |
| USD |  |  |  |
| USD	AKER BP ASA-144A 3.00000% 20-15.01.25 | 565 000.00 | 553 480.72 | 0.05 |
| USD	AKER BP ASA-144A 4.00000% 20-15.01.31 | 525 000.00 | 492 518.03 | 0.05 |
| USD	AVOLON HOLDINGS FUNDING LTD-144A 2.12500% 21-21.02.26 | 730 000.00 | 653 788.00 | 0.06 |
| USD	BNP PARIBAS-144A 4.40000% 18-14.08.28 | 200 000.00 | 196 930.35 | 0.02 |
| USD	BRAZIL MINAS SPE-REG-S 5.33300% 13-15.02.28 | 200 000.00 | 120 172.50 | 0.01 |
| USD	BROADCOM INC 3.15000% 20-15.11.25 | 233 000.00 | 226 208.62 | 0.02 |
| USD	BROADCOM INC-144A 2.60000% 21-15.02.33 | 3 205 000.00 | 2 574 585.50 | 0.24 |
| USD	BROADCOM INC-144A 3.41900% 21-15.04.33 | 767 000.00 | 660 331.42 | 0.06 |
| USD	CAMERON LNG LLC-144A 3.30200% 19-15.01.35 | 340 000.00 | 303 901.86 | 0.03 |
| USD	CCO HOLDINGS LLC/CAPITAL CORP-144A 5.50000% 16-01.05.26 | 497 000.00 | 497 447.30 | 0.05 |
| USD	CHEVRON PHILLIPS CHEMICAL CO LLC-144A 5.12500% 20-01.04.25 | 460 000.00 | 479 328.18 | 0.04 |
| USD	COLONIAL ENTERPRISES INC-144A 3.25000% 20-15.05.30 | 470 000.00 | 438 832.32 | 0.04 |
| USD	DELL INTERNATIONAL LLC / EMC CORP 5.30000% 21-01.10.29 | 355 000.00 | 360 573.62 | 0.03 |
| USD	GLENCORE FUNDING LLC-144A 4.87500% 19-12.03.29 | 500 000.00 | 501 785.16 | 0.05 |
| USD	GRAPHIC PACKAGING INTERNATIONL INC-144A 3.50000% 20-15.03.28 | 1 000 000.00 | 928 890.00 | 0.09 |
| USD	INFOR INC-144A 1.75000% 20-15.07.25 | 355 000.00 | 331 960.01 | 0.03 |

UBS (Lux) Bond SICAV – Global Dynamic (USD)
Rapport annuel et états financiers révisés au 31 mai 2022
|  | Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| USD | LUNDIN ENERGY FINANCE BV-144A 2.00000% 21-15.07.26 | 365 000.00 | 332 038.88 | 0.03 |
| USD | MPLX LP 4.25000% 20-01.12.27 | 400 000.00 | 396 050.62 | 0.04 |
| USD | NXP BV / NXP FUNDING LLC / NXP USA INC 2.70000% 22-01.05.25 | 160 000.00 | 154 113.60 | 0.01 |
| USD | ONCOR ELECTRIC DELIVERY CO 3.70000% 19-15.11.28 | 760 000.00 | 756 882.32 | 0.07 |
| USD | PERU, REPUBLIC OF 5.62500% 10-18.11.50 | 1 500 000.00 | 1 664 812.50 | 0.15 |
| USD | PHILLIPS 66 CO-144A 4.68000% 22-15.02.45 | 500 000.00 | 482 902.84 | 0.04 |
| USD | SOUTHWESTERN ELECTRIC POWER 6.20000% 10-15.03.40 | 150 000.00 | 168 294.74 | 0.02 |
| USD | TEACHERS INSURANCE&ANNUITY ASS-144A-SUB 4.90000% 14-15.09.44 | 200 000.00 | 199 894.59 | 0.02 |
| USD | TECK RESOURCES LTD 3.90000% 20-15.07.30 | 530 000.00 | 501 644.01 | 0.05 |
| USD | TRITON CONTAINER INTERNATIONAL LTD-144A 2.05000% 21-15.04.26 | 920 000.00 | 844 744.00 | 0.08 |
| Total USD |  |  | 14 822 111.69 | 1.38 |
| Total des Billets, taux fixe |  | 19 340 851.47 | 1.80 |
| Medium-Term Notes, taux fixe |  |  |  |
| AUD |  |  |  |
| AUD	AIR NEW ZEALAND LTD 5.70000% 22-25.05.26 | 2 590 000.00 | 1 862 748.55 | 0.17 |
| AUD	AURIZON FINANCE PTY LTD 3.00000% 21-09.03.28 | 2 160 000.00 | 1 330 674.49 | 0.13 |
| Total AUD |  | 3 193 423.04 | 0.30 |
| Total des Medium-Term Notes, taux fixe |  | 3 193 423.04 | 0.30 |
| Medium-Term Notes, taux variable |  |  |  |
| USD |  |  |  |
| USD	AUSTRALIA & NEW ZEALAND BANK-REG-S-SUB 2.950%VAR 20-22.07.30 | 700 000.00 | 670 586.70 | 0.06 |
| USD	INTESA SANPAOLO SPA-144A-SUB 7.700%/VAR 15-PRP | 1 500 000.00 | 1 469 670.82 | 0.14 |
| Total USD |  | 2 140 257.52 | 0.20 |
| Total des Medium-Term Notes, taux variable |  | 2 140 257.52 | 0.20 |
| Obligations, taux fixe |  |  |  |
| EUR |  |  |  |
| EUR	PANTHER BF AGGR 2/PANTHER FIN CO-REG-S 4.37500% 19-15.05.26 | 2 460 000.00 | 2 437 629.38 | 0.23 |
| Total EUR |  | 2 437 629.38 | 0.23 |
| RUB |  |  |  |
| RUB	RUSSIA, FEDERATION OF 7.65000% 19-10.04.30* | 1 900 000 000.00 | 1 884 920.64 | 0.17 |
| Total RUB |  | 1 884 920.64 | 0.17 |
| USD |  |  |  |
| USD	FIVE CORNERS FUNDING TRUST-144A 4.41900% 13-15.11.23 | 200 000.00 | 202 969.12 | 0.02 |
| Total USD |  | 202 969.12 | 0.02 |
| Total des Obligations, taux fixe |  | 4 525 519.14 | 0.42 |
| Obligations, taux variable |  |  |  |
| NZD |  |  |  |
| NZD	NEW ZEALAND 2.500%/CPI LINKED 17-20.09.40 | 85 650 000.00 | 69 192 222.18 | 6.45 |
| NZD	NEW ZEALAND 3.000%/CPI LINKED 13-20.09.30 | 42 000 000.00 | 35 584 520.25 | 3.31 |
| Total NZD |  | 104 776 742.43 | 9.76 |
| USD |  |  |  |
| USD	SCENTRE GROUP TRUST 2-REG-S-SUB 4.750%/VAR 20-24.09.80 | 650 000.00 | 618 579.45 | 0.06 |
| Total USD |  | 618 579.45 | 0.06 |
| Total des Obligations, taux variable |  | 105 395 321.88 | 9.82 |
| Total des Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  | 211 952 976.34 | 19.75 |

Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé
Titres adossés à des hypothèques, taux fixe
| USD |  |
| --- | --- |
| USD | DBGS 2018-BIOD MORTGAGE TRUST-SUB 4.76400% 18-01.10.51 | 1 300 000.00 | 1 298 246.30 | 0.12 |
| Total USD |  |  | 1 298 246.30 | 0.12 |
| Total des Titres adossés à des hypothèques, taux fixe |  | 1 298 246.30 | 0.12 |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	NXP BV / NXP FUNDING LLC / NXP USA 3.15000% 22-01.05.27 | 900 000.00 | 854 604.00 | 0.08 |
| USD	VISTRA OPERATIONS CO LLC-144A 5.12500% 22-13.05.25 | 1 535 000.00 | 1 546 695.78 | 0.14 |
| Total USD |  | 2 401 299.78 | 0.22 |
| Total des Billets, taux fixe |  | 2 401 299.78 | 0.22 |
| Total des Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé |  | 3 699 546.08 | 0.34 |
| * Évaluation à la juste valeur - voir Note 15 - Événement |  |  |  |

UBS (Lux) Bond SICAV – Global Dynamic (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) |  |
| Nouvelles émissions de titres et instruments du marché monétaire |  |  |  |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	COMCAST CORP-144A 2.93700% 21-01.11.56 | 285 000.00 | 212 544.05 | 0.02 |
| USD	LUNDIN ENERGY FINANCE BV-144A 3.10000% 21-15.07.31 | 375 000.00 | 330 164.33 | 0.03 |
| Total USD |  | 542 708.38 | 0.05 |
| Total des Billets, taux fixe |  | 542 708.38 | 0.05 |
| Total des Nouvelles émissions de titres et instruments du marché monétaire |  | 542 708.38 | 0.05 |

OPCVM/Autres OPC au sens de l’article 41 (1) e) de la loi luxembourgeoise du 17 décembre 2010, telle que modifiée
Fonds d’investissement, ouvert
| Irlande |  |
| --- | --- |
| EUR | ISHARES EURO HIGH YIELD CORPORATE BOND UCITS ETF EUR | 1 000.00 | 99 112.05 | 0.01 |
| Total Irlande |  | 99 112.05 | 0.01 |
| Luxembourg |  |  |  |
| EUR	UBS (LUX) BOND FUND - EURO HIGH YIELD (EUR) I-X-ACC | 500.00 | 72 250.46 | 0.00 |
| USD	UBS (LUX) BOND SICAV - ASIAN HIGH YIELD (USD) I-X-DIST | 378 000.00 | 23 817 780.00 | 2.22 |
| USD	UBS (LUX) BOND SICAV - MULTI INCOME (USD)-U-X-ACC- CAP | 400.00 | 3 951 796.00 | 0.37 |
| USD	UBS (LUX) BOND SICAV - CHINA HIGH YIELD (USD) U-X-ACC | 2 400.00 | 13 284 168.00 | 1.24 |
| Total Luxembourg |  | 41 125 994.46 | 3.83 |
| Total des Fonds d’investissement, ouvert |  | 41 225 106.51 | 3.84 |
| Total des OPCVM/Autres OPC au sens de l’article 41 (1) e) de la loi luxembourgeoise du 17 décembre 2010, telle que modifiée | 41 225 106.51 | 3.84 |
| Total du Portefeuille-titres |  | 960 708 154.72 | 89.50 |

| Instruments dérivés |  |
| --- | --- |
| Instruments dérivés négociés sur une bourse officielle |
| Contrats financiers à terme sur obligations |
|  |  |  |
| EUR	EURO BTP ITALY GOVERNMENT FUTURE 08.06.22	130.00 | -2 451 020.00 | -0.23 |
| EUR	EURO-BUND FUTURE 08.06.22	-100.00 | 1 552 916.14 | 0.14 |
| EUR	EURO-BOBL FUTURE 08.06.22	-420.00 | 2 785 464.25 | 0.26 |
| EUR	EURO-SCHATZ FUTURE 08.06.22	-358.00 | 636 622.45 | 0.06 |
| EUR	EURO-BUXL FUTURE 08.06.22	-300.00 | 12 623 610.00 | 1.18 |
| EUR	EURO-OAT FUTURE 08.06.22	-50.00 | 758 980.62 | 0.07 |
| GBP	LONG GILT FUTURE 28.09.22	-70.00 | 156 151.17 | 0.01 |
| JPY	JAPAN GOVERNMENT 10Y BOND (OSE) FUTURE 13.06.22	-39.00 | 96 000.62 | 0.01 |
| AUD	AUSTRALIA 3YR BOND FUTURE 15.06.22	696.00 | -1 440 360.18 | -0.13 |
| USD	US ULTRA LONG BOND (CBT) FUTURE 21.09.22	-437.00 | 1 312 375.04 | 0.12 |
| USD	US LONG BOND FUTURE 21.09.22	-250.00 | 455 750.05 | 0.04 |
| CAD	CAN 10YR BOND FUTURE 20.09.22	-59.00 | 73 700.44 | 0.01 |
| USD	US 5YR TREASURY NOTE FUTURE 30.09.22	-934.00 | 511 078.13 | 0.05 |
| USD	US 10YR ULTRA NOTE FUTURE 21.09.22	-750.00 | 1 069 828.33 | 0.10 |
| USD	US 10YR TREASURY NOTE FUTURE 21.09.22	-1 035.00 | 958 234.38 | 0.09 |
| USD	US 2YR TREASURY NOTE FUTURE 30.09.22	-450.00 | 114 867.65 | 0.01 |
| Total des Contrats financiers à terme sur obligations | 19 214 199.09 | 1.79 |
| Contrats à terme sur taux d’intérêt |  |  |
|  |  |  |
| USD	90DAY EURO DOLLAR FUTURE 18.12.23	2 220.00 | -9 019 937.50 | -0.84 |
| USD	90DAY EURO DOLLAR FUTURE 16.12.24	-2 220.00 | 6 435 687.50 | 0.60 |
| Total des Contrats à terme sur taux d’intérêt | -2 584 250.00 | -0.24 |
| Total des Instruments dérivés négociés sur une bourse officielle | 16 629 949.09 | 1.55 |
| Instruments dérivés non négociés sur une bourse officielle ou sur un autre marché réglementé |  |  |
| Swaps et Swaps à terme sur taux d’intérêt |  |  |
|  |  |  |
| USD	LCH/INTEREST RATE SWAP PAYER 2.29200% 20-03.02.25	-8 000 000.00 | 69 322.94 | 0.01 |
| USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 20-03.02.25 |  |  |
| USD	LCH/INTEREST RATE SWAP PAYER 2.37200% 15-28.04.45	-2 000 000.00 | 193 888.60 | 0.02 |
| USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 15-28.04.45 |  |  |
| USD	LCH/INTEREST RATE SWAP PAYER 2.56500% 15-10.11.45	-2 500 000.00 | 160 877.87 | 0.01 |
| USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 15-10.11.45 |  |  |
| USD	LCH/INTEREST RATE SWAP PAYER 2.60800% 15-19.11.45	-2 400 000.00 | 137 333.82 | 0.01 |
| USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 15-19.11.45 |  |  |
| USD	LCH/INTEREST RATE SWAP PAYER 2.12350% 16-18.04.46	-2 000 000.00 | 280 610.75 | 0.03 |
| USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 16-18.04.46 |  |  |
| USD	LCH/INTEREST RATE SWAP PAYER 2.39400% 17-23.03.27	-4 600 000.00 | 81 599.04 | 0.01 |
| USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 17-23.03.27 |  |  |
| USD	LCH/INTEREST RATE SWAP PAYER 2.34600% 17-07.04.27	-5 000 000.00 | 102 495.33 | 0.01 |
| USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 17-07.04.27 |  |  |
| USD	LCH/INTEREST RATE SWAP PAYER 2.57230% 17-01.08.47	-1 800 000.00 | 97 747.02 | 0.01 |
| USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 17-01.08.47 |  |  |
| USD	LCH/INTEREST RATE SWAP PAYER 2.24850% 17-02.08.27	-4 300 000.00 | 96 081.83 | 0.01 |
| USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 17-02.08.27 |  |  |
| USD	LCH/INTEREST RATE SWAP PAYER 1.29910% 20-03.03.50	-5 800 000.00 | 1 768 929.46 | 0.16 |
| USD	LCH/INTEREST RATE SWAP REC 3M LIBOR 20-03.03.50 |  |  |

UBS (Lux) Bond SICAV – Global Dynamic (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) |  |
|  |  |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAYER 2.11600% 20-23.01.30 | -142 000 000.00 | 8 347 912.99 | 0.78 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 20-23.01.30 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAYER 1.91900% 20-10.02.30 | -155 000 000.00 | 9 594 678.38 | 0.89 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 20-10.02.30 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAYER 0.85750% 20-23.07.30 | -87 000 000.00 | 6 904 293.39 | 0.64 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 20-23.07.30 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAYER 0.34200% 20-10.09.50 | -10 000.00 | 4 534.44 | 0.00 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 20-10.09.50 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAYER 0.13510% 20-16.09.30 | -100 000.00 | 19 438.02 | 0.00 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 20-16.09.30 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAYER 0.63290% 21-11.02.51 | -7 200 000.00 | 2 731 835.93 | 0.25 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 21-11.02.51 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAYER 0.84167% 21-19.02.51 | -9 100 000.00 | 2 935 399.68 | 0.27 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 21-19.02.51 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAYER 0.88540% 21-28.02.51 | -18 400 000.00 | 5 719 699.18 | 0.53 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 21-28.02.51 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.20750% 19-27.09.29 | -35 900 000.00 | 4 041 441.22 | 0.38 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 19-27.09.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.67500% 24-30.10.29 | -32 000 000.00 | 1 929 429.56 | 0.18 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 24-30.10.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.58300% 24-24.09.29 | -54 000 000.00 | 3 405 071.20 | 0.32 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 24-24.09.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAYER 1.47300% 24-15.10.29 | -55 000 000.00 | 3 623 802.60 | 0.34 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 24-15.10.29 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP PAYER 2.80500% 21-02.04.26 | -755 000 000.00 | -2 060 330.27 | -0.19 |
| CNY | CITI/INTEREST RATE SWAP REC CNRR007 21-02.04.26 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAYER 1.72500% 21-17.06.31 | -84 500 000.00 | 5 970 490.91 | 0.56 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 21-17.06.31 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAYER 0.93330% 21-26.10.51 | -10 100 000.00 | 3 014 478.27 | 0.28 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 21-26.10.51 |  |  |  |
| USD | LCH/INTEREST RATE SWAP PAYER 1.82280% 21-29.10.51 | -11 900 000.00 | 2 462 826.68 | 0.23 |
| USD | LCH/INTEREST RATE SWAP REC 3M LIBOR 21-29.10.51 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAYER 3.79250% 22-17.01.32 | -61 500 000.00 | 2 464 300.46 | 0.23 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 22-17.01.32 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAYER 3.86400% 22-19.01.32 | -61 000 000.00 | 2 371 044.37 | 0.22 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 22-19.01.32 |  |  |  |
| KRW | JPMORGAN/INTEREST RATE SWAP PAYER 2.15900% 22-25.01.32 | -42 300 000 000.00 | 2 780 421.69 | 0.26 |
| KRW | JPMORGAN/INTEREST RATE SWAP REC 3MKWCD 22-25.01.32 |  |  |  |
| NZD | BC/INTEREST RATE SWAP REC 5.14300% 14-17.02.24 | 2 100 000.00 | 48 335.99 | 0.00 |
| NZD | BC/INTEREST RATE SWAP PAYERER 3ML 14-17.02.24 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 3.02250% 19-02.04.24 | 105 000 000.00 | 275 492.99 | 0.02 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 19-02.04.24 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.94000% 19-19.09.24 | 75 000 000.00 | 208 662.63 | 0.02 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 19-19.09.24 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.96250% 19-21.10.24 | 140 000 000.00 | 392 029.44 | 0.04 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 19-21.10.24 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 3.15750% 19-30.10.24 | 111 000 000.00 | 387 620.82 | 0.04 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 19-30.10.24 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.92500% 20-16.01.25 | 114 000 000.00 | 323 433.42 | 0.03 |
| CNY | CITI/INTEREST RATE SWAP PAYER CNRR007 20-16.01.25 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 2.23500% 20-10.06.25 | 110 000 000.00 | -6 479.28 | 0.00 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAYER CNRR007 20-10.06.25 |  |  |  |
| NZD | BARCLAYS/INTEREST RATE SWAP REC 5.20000% 13-09.12.23 | 1 200 000.00 | 32 729.69 | 0.00 |
| NZD | BARCLAYS/INTEREST RATE SWAP PAYER 3MFRA 13-09.12.23 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP REC 1.22000% 19-21.11.24 | 42 500 000.00 | -1 766 438.30 | -0.16 |
| NZD | LCH/INTEREST RATE SWAP PAYER 3MFRA 19-21.11.24 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 6.28000% 16-23.07.26 | 95 000 000.00 | -401 951.80 | -0.04 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 16-23.07.26 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 8.20500% 19-20.04.29 | 160 000 000.00 | -123 932.03 | -0.01 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 19-20.04.29 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 6.68000% 19-26.09.29 | 150 000 000.00 | -756 923.22 | -0.07 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 19-26.09.29 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 6.84250% 20-09.01.30 | 320 000 000.00 | -1 501 473.85 | -0.14 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 20-09.01.30 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 6.53600% 20-14.02.30 | 245 000 000.00 | -1 380 780.79 | -0.13 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 20-14.02.30 |  |  |  |
| CNY | HSBC/INTEREST RATE SWAP REC 2.87250% 19-16.07.24 | 90 000 000.00 | 212 053.48 | 0.02 |
| CNY | HSBC/INTEREST RATE SWAP PAYER CNRR007 19-16.07.24 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP REC 1.32000% 21-22.06.26 | 119 000 000.00 | -7 260 359.27 | -0.68 |
| NZD | LCH/INTEREST RATE SWAP PAYER 3MFRA 21-22.06.26 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 2.59600% 21-10.08.26 | 17 900 000 000.00 | -7 852 882.27 | -0.73 |
| HUF | LCH/INTEREST RATE SWAP PAYER 6ML 21-10.08.26 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 2.83500% 21-17.09.26 | 8 870 000 000.00 | -3 820 547.09 | -0.36 |
| HUF | LCH/INTEREST RATE SWAP PAYER 6ML 21-17.09.26 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 7.50000% 21-22.09.31 | 477 000 000.00 | -1 526 996.40 | -0.14 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 21-22.09.31 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 7.44000% 21-16.10.26 | 660 000 000.00 | -1 444 077.80 | -0.13 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 21-16.10.26 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 7.49250% 21-19.10.26 | 660 000 000.00 | -1 380 850.84 | -0.13 |
| MXN | CME/INTEREST RATE SWAP PAYER MXI 21-19.10.26 |  |  |  |
| CZK | CITI/INTEREST RATE SWAP REC 3.43000% 21-16.12.26 | 500 000 000.00 | -1 604 872.39 | -0.15 |
| CZK | CG/INTEREST RATE SWAP PAYER PRIBOR 6M 21-16.12.26 |  |  |  |
| ZAR | LCH/INTEREST RATE SWAP REC 7.67000% 22-06.01.32 | 223 000 000.00 | -589 701.57 | -0.05 |
| ZAR | LCH/INTEREST RATE SWAP PAYER 3MZAR 22-06.01.32 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 4.82000% 22-17.01.27 | 9 050 000 000.00 | -2 388 090.70 | -0.22 |
| HUF | LCH/INTEREST RATE SWAP PAYER 6MHUF 22-17.01.27 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 4.95100% 22-19.01.27 | 9 050 000 000.00 | -2 248 365.66 | -0.21 |
| HUF | LCH/INTEREST RATE SWAP PAYER 6ML 22-19.01.27 |  |  |  |
| KRW | JPMORGAN/INTEREST RATE SWAP REC 2.02000% 22-25.01.24 | 90 000 000 000.00 | -1 061 755.64 | -0.10 |
| KRW | JPMORGAN/INTEREST RATE SWAP PAYER 3MKWCD 22-25.01.24 |  |  |  |
| KRW | JPMORGAN/INTEREST RATE SWAP REC 2.02000% 22-25.01.24 | 90 000 000 000.00 | -1 061 755.64 | -0.10 |
| KRW | JPMORGAN/INTEREST RATE SWAP PAYER 3MKWCD 22-25.01.24 |  |  |  |
| KRW | JPMORGAN/INTEREST RATE SWAP REC 2.02000% 22-25.01.24 | 39 000 000 000.00 | -460 094.11 | -0.04 |
| KRW | JPMORGAN/INTEREST RATE SWAP PAYER 3MKWCD 22-25.01.24 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP REC 1.61930% 22-24.02.27 | 39 500 000.00 | -1 376 902.06 | -0.13 |
| GBP | LCH/INTEREST RATE SWAP PAYER SONIA O/N 22-24.02.27 |  |  |  |

Total des Swaps et Swaps à terme sur taux d’intérêt	31 114 783.11	2.90
UBS (Lux) Bond SICAV – Global Dynamic (USD) Rapport annuel et états financiers révisés au 31 mai 2022
| Dénomination | Nombre/ Nominal | Evaluation en USD Bénéfice/(perte) non réalisé(e) sur futures/ Contrats de change à terme/ Swaps (note 1) | en % de l’actif net |
| --- | --- | --- | --- |
| Credit Default Swaps* |  |  |  |
|  |  |  |  |
| USD	BOA/MEX CREDIT DEFAULT SWAP PAYER 1.00000% 19-20.06.24 | -8 750 000.00 | -89 699.07 | -0.01 |
| USD	BOA/TURKEY CREDIT DEFAULT SWAP REC 1.00000% 19-20.06.24 | 8 750 000.00 | -977 974.19 | -0.09 |
| Total des Credit Default Swaps |  | -1 067 673.26 | -0.10 |
| Total des Instruments dérivés non négociés sur une bourse officielle ou sur un autre marché réglementé |  | 30 047 109.85 | 2.80 |
| Total des Instruments dérivés |  | 46 677 058.94 | 4.35 |
| Contrats de change à terme |  |  |  |
| Devise achetée/Montant acheté/Devise vendue/Montant vendu/Date de maturité |  |  |  |

| MYR | 24 966 000.00 | USD | 5 709 124.17 | 7.6.2022 | -9 080.79 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 60 084 576.89 | CNY | 394 990 000.00 | 6.6.2022 | 760 067.37 | 0.07 |
| USD | 23 792 328.13 | TWD | 698 400 000.00 | 6.6.2022 | -280 953.39 | -0.03 |
| KRW | 29 234 000 000.00 | USD | 22 965 101.44 | 7.6.2022 | 634 808.60 | 0.06 |
| JPY | 1 050 500 000.00 | USD | 8 064 738.39 | 6.6.2022 | 101 416.28 | 0.01 |
| USD | 16 898 800.26 | BRL | 85 780 000.00 | 6.6.2022 | -1 197 418.97 | -0.11 |
| CLP | 14 934 100 000.00 | USD | 17 288 840.01 | 6.6.2022 | 851 100.39 | 0.08 |
| USD | 35 733 783.26 | PLN | 158 335 000.00 | 6.6.2022 | -1 286 488.74 | -0.12 |
| AUD | 23 895 000.00 | USD | 16 953 354.35 | 6.6.2022 | 187 978.76 | 0.02 |
| SEK | 232 230 000.00 | USD | 23 496 280.54 | 7.6.2022 | 241 479.08 | 0.02 |
| USD | 28 810 824.60 | MXN | 592 570 000.00 | 6.6.2022 | -1 242 173.98 | -0.12 |
| USD | 11 919 158.44 | CAD | 15 350 000.00 | 6.6.2022 | -216 498.44 | -0.02 |
| USD | 169 071 055.08 | NZD | 263 435 000.00 | 7.6.2022 | -2 402 473.48 | -0.22 |
| USD | 263 184 990.27 | EUR | 250 240 000.00 | 6.6.2022 | -4 897 327.18 | -0.46 |
| USD | 52 680 536.40 | GBP | 42 055 000.00 | 6.6.2022 | -321 253.92 | -0.03 |
| USD | 1 354 267.34 | HUF | 495 400 000.00 | 7.6.2022 | 17 582.70 | 0.00 |
| CZK | 28 480 000.00 | USD | 1 205 372.03 | 6.6.2022 | 28 131.92 | 0.00 |
| SGD | 15 247 506.23 | USD | 11 060 000.00 | 6.6.2022 | 62 232.95 | 0.01 |
| USD | 11 060 000.00 | PHP | 582 640 800.00 | 6.6.2022 | -57 313.56 | -0.01 |
| USD | 2 843 064.68 | PLN | 12 625 000.00 | 6.6.2022 | -108 783.83 | -0.01 |
| NZD | 5 195 000.00 | USD | 3 366 188.57 | 7.6.2022 | 15 309.64 | 0.00 |
| EUR | 10 565 000.00 | SEK | 110 373 083.25 | 7.6.2022 | 36 867.72 | 0.00 |
| USD | 2 066 311.04 | GBP | 1 670 000.00 | 6.6.2022 | -38 384.95 | 0.00 |
| AUD | 15 640 000.00 | USD | 10 976 131.67 | 6.6.2022 | 243 389.14 | 0.02 |
| EUR | 2 670 000.00 | GBP | 2 283 747.12 | 6.6.2022 | -17 826.46 | 0.00 |
| AUD | 3 480 000.00 | USD | 2 429 043.48 | 6.6.2022 | 67 371.64 | 0.01 |
| EUR | 1 466 485.28 | PLN | 6 885 000.00 | 6.6.2022 | -38 739.12 | 0.00 |
| EUR | 427 200 000.00 | USD | 451 656 730.08 | 13.6.2022 | 6 166 919.84 | 0.58 |
| CHF | 167 182 300.00 | USD | 169 321 164.96 | 13.6.2022 | 5 168 068.97 | 0.48 |
| ZAR | 88 752 861.91 | USD | 5 515 000.00 | 6.6.2022 | 179 350.58 | 0.02 |
| PLN | 47 430 000.00 | CZK | 253 755 243.00 | 6.6.2022 | 99 160.24 | 0.01 |
| USD | 1 610 000.00 | KRW | 2 076 256 000.00 | 7.6.2022 | -66 111.88 | -0.01 |
| GBP | 10 000 000.00 | USD | 12 234 312.00 | 6.6.2022 | 368 658.00 | 0.03 |
| CNY | 10 938 340.00 | USD | 1 610 000.00 | 6.6.2022 | 32 855.91 | 0.00 |
| CAD | 15 254 023.79 | USD | 11 675 000.00 | 6.6.2022 | 384 778.42 | 0.04 |
| MYR | 46 819 960.00 | USD | 10 670 000.00 | 7.6.2022 | 19 569.93 | 0.00 |
| USD | 10 670 000.00 | PHP | 561 242 000.00 | 6.6.2022 | -39 005.10 | 0.00 |
| USD | 1 075 077.61 | MXN | 21 510 000.00 | 6.6.2022 | -15 831.48 | 0.00 |
| USD | 1 846 487.80 | EUR | 1 750 700.00 | 13.6.2022 | -29 710.38 | 0.00 |
| NOK | 105 280 000.00 | SEK | 107 082 920.00 | 7.6.2022 | 253 580.64 | 0.02 |
| NZD | 2 770 000.00 | EUR | 1 673 898.07 | 7.6.2022 | 9 697.42 | 0.00 |
| PLN | 130 415 000.00 | USD | 29 730 511.60 | 6.6.2022 | 761 791.26 | 0.07 |
| USD | 1 173 304.16 | EUR | 1 110 400.00 | 13.6.2022 | -16 694.39 | 0.00 |
| USD | 2 660 823.33 | MXN | 52 840 000.00 | 6.6.2022 | -19 029.59 | 0.00 |
| USD | 1 771 246.71 | CHF | 1 706 700.00 | 13.6.2022 | -10 046.98 | 0.00 |
| USD | 2 984 885.34 | AUD | 4 220 000.00 | 6.6.2022 | -42 376.67 | 0.00 |
| SEK | 32 358 724.71 | GBP | 2 596 440.00 | 7.6.2022 | 35 321.06 | 0.00 |
| USD | 10 644 930.12 | AUD | 14 960 000.00 | 6.6.2022 | -86 785.44 | -0.01 |
| USD | 5 285 000.00 | ZAR | 82 762 301.97 | 6.6.2022 | -24 998.48 | 0.00 |
| USD | 57 032 224.53 | CNY | 384 055 000.00 | 6.7.2022 | -512 447.92 | -0.05 |
| CNY | 384 051 660.00 | USD | 57 159 050.45 | 6.6.2022 | 522 603.16 | 0.05 |
| SEK | 72 439 106.33 | GBP | 5 833 560.00 | 7.6.2022 | 52 478.33 | 0.01 |
| USD | 21 675 907.10 | KRW | 27 157 744 000.00 | 7.6.2022 | -247 891.05 | -0.02 |
| KRW | 27 158 000 000.00 | USD | 21 671 960.04 | 6.7.2022 | 210 037.32 | 0.02 |
| TWD | 698 400 000.00 | USD | 23 886 722.76 | 6.6.2022 | 186 558.76 | 0.02 |
| USD | 23 953 081.59 | TWD | 698 400 000.00 | 6.7.2022 | -239 647.44 | -0.02 |
| USD | 10 575 000.00 | CAD | 13 464 950.81 | 6.6.2022 | -70 343.51 | -0.01 |
| USD | 21 815 581.20 | PHP | 1 143 900 000.00 | 6.7.2022 | 91 487.67 | 0.01 |
| PHP | 1 143 882 800.00 | USD | 21 863 203.36 | 6.6.2022 | -36 884.70 | 0.00 |
| MYR | 71 786 000.00 | USD | 16 432 266.63 | 6.7.2022 | -57 499.91 | -0.01 |
| USD | 16 434 514.65 | MYR | 71 785 960.00 | 7.6.2022 | 44 901.34 | 0.00 |
| BRL | 85 780 000.00 | USD | 18 158 340.39 | 6.6.2022 | -62 121.16 | -0.01 |
| USD | 18 090 975.17 | CLP | 14 934 100 000.00 | 6.6.2022 | -48 965.23 | 0.00 |
| CLP | 14 934 100 000.00 | USD | 17 985 307.40 | 6.7.2022 | 40 336.91 | 0.00 |
| USD | 18 000 209.84 | BRL | 85 780 000.00 | 6.7.2022 | 79 558.79 | 0.01 |
| USD | 3 077 812.60 | EUR | 2 852 800.00 | 13.6.2022 | 20 510.85 | 0.00 |
| USD | 45 412 689.93 | GBP | 36 010 000.00 | 6.7.2022 | 20 667.42 | 0.00 |
| USD | 528 805.49 | SGD | 725 000.00 | 6.6.2022 | -42.88 | 0.00 |
| USD | 2 108 467.81 | MXN | 41 330 000.00 | 6.6.2022 | 12 360.29 | 0.00 |
| USD | 1 582 827.74 | JPY | 203 000 000.00 | 6.6.2022 | 4 789.28 | 0.00 |
| TWD | 80 900 000.00 | USD | 2 797 372.06 | 6.7.2022 | 5 021.67 | 0.00 |
| Total des Contrats de change à terme | 4 277 649.25 | 0.40 |
|  |  |  |
| Avoirs en banque, dépôts à vue et à terme et autres liquidités | 84 031 613.13** | 7.83 |
| Crédit en compte courant et autres engagements à court terme | -26 208 767.30 | -2.44 |
| Autres actifs et passifs | 3 941 035.11 | 0.36 |
| Total de l’Actif net | 1 073 426 743.85 | 100.00 |

* Nominal positif: le compartiment est «receveur», nominal négatif: le compartiment est «payeur».
** Au 31 mai 2022, des avoirs en banque ont été utilisés à titre de sûreté, à hauteur de 420 000.00 USD en faveur de Bank of America, à hauteur de 3 050 000.00 USD en faveur de Citibank et à hauteur de 1 281 000.00 USD en faveur de Morgan Stanley London.
UBS (Lux) Bond SICAV – Global Dynamic (USD)
Rapport annuel et états financiers révisés au 31 mai 2022