# UBS (Lux) Strategy Fund – Fixed Income (USD)
| Three-year comparison |  |
| --- | --- |
|  | ISIN | 31.1.2021 | 31.1.2020 | 31.1.2019 |
| Net assets in USD |  | 194 591 044.89 | 167 562 436.07 | 188 027 550.04 |
| Class I-A3-acc | LU1421906303 |  |  |  |
| Units outstanding |  | 32 484.4850 | 22 212.2970 | 12 646.8200 |
| Net asset value per unit in USD |  | 115.66 | 110.42 | 102.75 |
| Issue and redemption price per unit in USD 1 |  | 115.66 | 110.42 | 102.75 |
| Class P-acc | LU0039703532 |  |  |  |
| Units outstanding |  | 44 757.9080 | 49 236.4150 | 61 374.2330 |
| Net asset value per unit in USD |  | 2 818.35 | 2 707.23 | 2 534.98 |
| Issue and redemption price per unit in USD 1 |  | 2 818.35 | 2 707.23 | 2 534.98 |
| Class P-dist | LU0039703375 |  |  |  |
| Units outstanding |  | 17 549.1040 | 15 655.9230 | 22 324.8290 |
| Net asset value per unit in USD |  | 1 103.75 | 1 081.03 | 1 031.59 |
| Issue and redemption price per unit in USD 1 |  | 1 103.75 | 1 081.03 | 1 031.59 |
| Class P-mdist | LU1415540852 |  |  |  |
| Units outstanding |  | 9 110.9870 | 6 587.8490 | 4 902.8970 |
| Net asset value per unit in USD |  | 1 008.95 | 987.27 | 956.71 |
| Issue and redemption price per unit in USD 1 |  | 1 008.95 | 987.27 | 956.71 |
| Class Q-acc | LU1240800026 |  |  |  |
| Units outstanding |  | 299 146.1970 | 70 556.5910 | 30 334.7170 |
| Net asset value per unit in USD |  | 119.39 | 114.20 | 106.48 |
| Issue and redemption price per unit in USD 1 |  | 119.39 | 114.20 | 106.48 |
| Class Q-dist | LU1240800299 |  |  |  |
| Units outstanding |  | 3 756.7740 | 3 084.7740 | 1 910.3620 |
| Net asset value per unit in USD |  | 109.51 | 106.80 | 101.88 |
| Issue and redemption price per unit in USD 1 |  | 109.51 | 106.80 | 101.88 |
| 1  See note 1 |  |  |  |  |
| Performance |  |  |  |  |
|  | Currency | 2020/2021 | 2019/2020 | 2018/2019 |
| Class I-A3-acc | USD | 4.7% | 7.5% | 1.3% |
| Class P-acc | USD | 4.1% | 6.8% | 0.7% |
| Class P-dist | USD | 4.1% | 6.8% | 0.7% |
| Class P-mdist | USD | 4.1% | 6.8% | 0.7% |
| Class Q-acc | USD | 4.5% | 7.3% | 1.1% |
| Class Q-dist | USD | 4.5% | 7.3% | 1.2% |

Historical performance is no indicator of current or future performance.
The performance data does not take account of any commissions and costs charged when subscribing and redeeming units. The performance data were not audited.
The subfund has no benchmark.

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

## Structure of the Securities Portfolio
Classification by Currency as a % of net assets	
USD	96.91
Total	98.98
EUR	2.07
Classification by Instrument as a % of net assets	
Investment funds, open end	51.92
Notes, fixed rate	24.17
Medium term notes, fixed rate	9.43
Bonds, fixed rate	7.84
Treasury notes, floating rate	4.18
Treasury notes, fixed rate	0.69
Notes, floating rate	0.31
Medium term notes, floating rate	0.25
Medium term notes, zero coupon	0.19
Total	98.98
UBS (Lux) Strategy Fund – Fixed Income (USD)
Annual report and audited financial statements as of 31 January 2021

## Statement of Net Assets
Assets	31.1.2021
USD
Investments in securities, cost	179 982 873.63
| Investments in securities, unrealized appreciation (depreciation) | 	12 615 937.96	 |
| --- | --- |
| Total investments in securities (Note 1) | 192 598 811.59 |
| Cash at banks, deposits on demand and deposit accounts | 450 175.65 |
| Other liquid assets (Margins) | 369 762.92 |
| Receivable on securities sales (Note 1) | 1 323 922.24 |
| Receivable on subscriptions | 5 133.44 |
| Interest receivable on securities | 528 880.59 |
| Interest receivable on liquid assets | 6.65 |
| Other receivables | 48 565.23 |
| Unrealized gain on forward foreign exchange contracts (Note 1) | 3 773.11 |
| Total Assets | 195 329 031.42 |
|  |  |
| Liabilities |  |
| Unrealized loss on financial futures (Note 1) | -143 415.22 |
| Bank overdraft | -1.11 |
| Interest payable on bank overdraft | -2.75 |
| Payable on redemptions | -476 913.02 |
| Provisions for flat fee (Note 2) | -76 985.03 |
| Provisions for taxe d’abonnement (Note 3) | -3 710.50 |
| Provisions for other commissions and fees (Note 2) | 	-36 958.90	 |
| Total provisions | -117 654.43 |
| Total Liabilities | -737 986.53 |
|  |  |
| Net assets at the end of the financial year | 194 591 044.89 |
| Statement of Operations | USD |
| Income | 1.2.2020-31.1.2021 |
| Interest on liquid assets | 8 564.77 |
| Interest on securities | 1 982 416.94 |
| Dividends | 290 211.93 |
| Interest received on swaps (Note 1) | 9 307.13 |
| Income on securities lending (Note 15) | 43 874.60 |
| Other income (Note 4) | 334 060.13 |
| Total income | 2 668 435.50 |
|  |  |
| Expenses |  |
| Interest paid on swaps (Note 1) | -2 581.50 |
| Flat fee (Note 2) | -1 788 338.70 |
| Taxe d’abonnement (Note 3) | -42 821.29 |
| Cost on securities lending (Note 15) | -17 549.84 |
| Other commissions and fees (Note 2) | -21 380.97 |
| Interest on cash and bank overdraft | -434.05 |
| Total expenses | -1 873 106.35 |
|  |  |
| Net income (loss) on investments | 795 329.15 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | 3 825 312.72 |
| Realized gain (loss) on financial futures | -12 526.44 |
| Realized gain (loss) on forward foreign exchange contracts | -599 572.68 |
| Realized gain (loss) on swaps | 51 092.94 |
| Realized gain (loss) on foreign exchange | 48 512.95 |
| Total realized gain (loss) | 3 312 819.49 |
|  |  |
| Net realized gain (loss) of the financial year | 4 108 148.64 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | 2 798 411.26 |
| Unrealized appreciation (depreciation) on yield-evaluated securities and money market instruments | 9 605.71 |
| Unrealized appreciation (depreciation) on financial futures | -143 415.22 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | -75 433.50 |
| Total changes in unrealized appreciation (depreciation) | 2 589 168.25 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | 6 697 316.89 |

UBS (Lux) Strategy Fund – Fixed Income (USD) Annual report and audited financial statements as of 31 January 2021
| Statement of Changes in Net Assets |  |
| --- | --- |
|  |  | USD |
|  |  | 1.2.2020-31.1.2021 |
| Net assets at the beginning of the financial year |  | 167 562 436.07 |
| Subscriptions |  | 87 069 766.18 |
| Redemptions |  | 	-66 257 268.41	 |
| Total net subscriptions (redemptions) |  | 20 812 497.77 |
| Dividend paid |  | -481 205.84 |
| Net income (loss) on investments |  | 795 329.15 |
| Total realized gain (loss) |  | 3 312 819.49 |
| Total changes in unrealized appreciation (depreciation) |  | 	2 589 168.25	 |
| Net increase (decrease) in net assets as a result of operations |  | 6 697 316.89 |
| Net assets at the end of the financial year |  | 194 591 044.89 |
| Development of the outstanding units |  |  |
|  |  | 1.2.2020-31.1.2021 |
| Class |  | I-A3-acc |
| Number of units outstanding at the beginning of the financial year |  | 22 212.2970 |
| Number of units issued |  | 21 287.1240 |
| Number of units redeemed |  | -11 014.9360 |
| Number of units outstanding at the end of the financial year |  | 32 484.4850 |
| Class |  | P-acc |
| Number of units outstanding at the beginning of the financial year |  | 49 236.4150 |
| Number of units issued |  | 13 944.4520 |
| Number of units redeemed |  | -18 422.9590 |
| Number of units outstanding at the end of the financial year |  | 44 757.9080 |
| Class |  | P-dist |
| Number of units outstanding at the beginning of the financial year |  | 15 655.9230 |
| Number of units issued |  | 3 963.7000 |
| Number of units redeemed |  | -2 070.5190 |
| Number of units outstanding at the end of the financial year |  | 17 549.1040 |
| Class |  | P-mdist |
| Number of units outstanding at the beginning of the financial year |  | 6 587.8490 |
| Number of units issued |  | 11 096.1270 |
| Number of units redeemed |  | -8 572.9890 |
| Number of units outstanding at the end of the financial year |  | 9 110.9870 |
| Class |  | Q-acc |
| Number of units outstanding at the beginning of the financial year |  | 70 556.5910 |
| Number of units issued |  | 257 746.6380 |
| Number of units redeemed |  | -29 157.0320 |
| Number of units outstanding at the end of the financial year |  | 299 146.1970 |
| Class |  | Q-dist |
| Number of units outstanding at the beginning of the financial year |  | 3 084.7740 |
| Number of units issued |  | 672.0000 |
| Number of units redeemed |  | 0.0000 |
| Number of units outstanding at the end of the financial year |  | 3 756.7740 |
| Annual Distribution 1 |  |  |
| UBS (Lux) Strategy Fund – Fixed Income (USD)	Ex-Date | Pay-Date | Currency	Amount per unit |
| P-dist	1.4.2020 | 6.4.2020 | USD	19.99 |
| Q-dist	1.4.2020 | 6.4.2020 | USD	1.97 |
| Monthly Distribution 1 |  |  |
| UBS (Lux) Strategy Fund – Fixed Income (USD)	Ex-Date | Pay-Date | Currency	Amount per unit |
| P-mdist	17.2.2020 | 20.2.2020 | USD	2.14 |
| P-mdist	16.3.2020 | 19.3.2020 | USD	2.15 |
| P-mdist	15.4.2020 | 20.4.2020 | USD	2.05 |
| P-mdist	15.5.2020 | 20.5.2020 | USD	2.10 |
| P-mdist	15.6.2020 | 18.6.2020 | USD	2.13 |
| P-mdist	15.7.2020 | 20.7.2020 | USD	1.08 |
| P-mdist	17.8.2020 | 20.8.2020 | USD	1.09 |
| P-mdist	15.9.2020 | 18.9.2020 | USD	1.11 |
| P-mdist	15.10.2020 | 20.10.2020 | USD	1.10 |
| P-mdist	16.11.2020 | 19.11.2020 | USD	1.10 |
| P-mdist	15.12.2020 | 18.12.2020 | USD	1.11 |
| P-mdist	15.1.2021 | 20.1.2021 | USD	1.12 |
| 1  See note 5 |  |  |

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

## Statement of Investments in Securities and other Net Assets as of 31 January 2021
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Transferable securities and money market instruments listed on an official stock exchange Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	ALBERTA, PROVINCE OF 3.30000% 18-15.03.28 | 300 000.00 | 343 657.15 | 0.18 |
| USD	AMERICAN EXPRESS CO 3.40000% 18-27.02.23 | 700 000.00 | 741 846.00 | 0.38 |
| USD	APPLE INC 1.65000% 20-11.05.30 | 599 000.00 | 605 560.96 | 0.31 |
| USD	APPLE INC 2.20000% 19-11.09.29 | 800 000.00 | 846 079.24 | 0.43 |
| USD	APPLE INC 2.40000% 13-03.05.23 | 885 000.00 | 927 015.93 | 0.48 |
| USD	APPLE INC 2.45000% 16-04.08.26 | 1 000 000.00 | 1 083 119.51 | 0.56 |
| USD	APPLE INC 3.25000% 16-23.02.26 | 1 000 000.00 | 1 115 861.00 | 0.57 |
| USD	APPLE INC 3.45000% 14-06.05.24 | 825 000.00 | 905 775.67 | 0.47 |
| USD	BAYER US FINANCE II LLC-REG-S 3.87500% 18-15.12.23 | 400 000.00 | 435 840.24 | 0.22 |
| USD	BERKSHIRE HATHAWAY FINANCE CORP 1.85000% 20-12.03.30 | 200 000.00 | 206 744.16 | 0.11 |
| USD	BERKSHIRE HATHAWAY INC 2.75000% 16-15.03.23 | 900 000.00 | 942 633.61 | 0.48 |
| USD	BERKSHIRE HATHAWAY INC 3.12500% 16-15.03.26 | 500 000.00 | 555 035.58 | 0.28 |
| USD	CHEVRON CORP 2.23600% 20-11.05.30 | 564 000.00 | 589 625.22 | 0.30 |
| USD	EQUINOR ASA 2.37500% 20-22.05.30 | 700 000.00 | 737 245.02 | 0.38 |
| USD	EQUINOR ASA 3.62500% 18-10.09.28 | 745 000.00 | 853 895.19 | 0.44 |
| USD	EUROPEAN INVESTMENT BANK 2.37500% 17-24.05.27 | 870 000.00 | 958 044.00 | 0.49 |
| USD	EUROPEAN INVESTMENT BANK 2.62500% 19-20.05.22 | 900 000.00 | 928 641.60 | 0.48 |
| USD	EUROPEAN INVESTMENT BANK 0.87500% 20-17.05.30 | 1 300 000.00 | 1 265 151.11 | 0.65 |
| USD	EXXON MOBIL CORP 3.04300% 16-01.03.26 | 850 000.00 | 933 589.07 | 0.48 |
| USD	INTER-AMERICAN DEVELOPMENT BANK 2.25000% 19-18.06.29 | 1 100 000.00 | 1 204 783.87 | 0.62 |
| USD	INTERNATIONAL BUSINESS MACHINES CORP 2.85000% 19-13.05.22 | 1 070 000.00 | 1 105 709.36 | 0.57 |
| USD	JOHNSON & JOHNSON 1.30000% 20-01.09.30 | 800 000.00 | 789 148.17 | 0.41 |
| USD	JOHNSON & JOHNSON 2.45000% 16-01.03.26 | 500 000.00 | 541 906.00 | 0.28 |
| USD	JOHNSON & JOHNSON 2.90000% 17-15.01.28 | 800 000.00 | 891 857.59 | 0.46 |
| USD	JOHNSON & JOHNSON 3.37500% 13-05.12.23 | 600 000.00 | 654 340.09 | 0.34 |
| USD	KOREA DEVELOPMENT BANK 4.62500% 11-16.11.21 | 1 075 000.00 | 1 111 953.13 | 0.57 |
| USD	KOREA HYDRO&NUCLEAR POWER CO LTD-REG-S 3.12500% 17-25.07.27 | 900 000.00 | 1 009 687.50 | 0.52 |
| USD	KOREA RESOURCES CORP-REG-S 3.00000% 17-24.04.22 | 900 000.00 | 925 312.50 | 0.48 |
| USD	KREDITANSTALT FUER WIEDERAUFBAU 2.12500% 13-17.01.23 | 805 000.00 | 834 607.90 | 0.43 |
| USD	KREDITANSTALT FUER WIEDERAUFBAU 2.00000% 15-02.05.25 | 600 000.00 | 639 455.84 | 0.33 |
| USD	KREDITANSTALT FUER WIEDERAUFBAU 2.87500% 18-03.04.28 | 970 000.00 | 1 104 201.17 | 0.57 |
| USD	KREDITANSTALT FUER WIEDERAUFBAU 1.75000% 19-14.09.29 | 850 000.00 | 896 138.00 | 0.46 |
| USD	KUWAIT INTERNATIONAL GOVT BOND-REG-S 3.50000% 17-20.03.27 | 1 300 000.00 | 1 468 187.50 | 0.75 |
| USD	LANDWIRTSCHAFTLICHE RENTENBANK 2.00000% 15-13.01.25 | 1 120 000.00 | 1 189 669.35 | 0.61 |
| USD	MICROSOFT CORP 3.30000% 17-06.02.27 | 1 020 000.00 | 1 158 791.49 | 0.60 |
| USD	NOVARTIS CAPITAL CORP 3.10000% 17-17.05.27 | 950 000.00 | 1 066 696.31 | 0.55 |
| USD	ONTARIO, PROVINCE OF 2.00000% 19-02.10.29 | 450 000.00 | 475 237.40 | 0.24 |
| USD	PROCTER & GAMBLE CO 1.85000% 16-02.02.21 | 250 000.00 | 250 000.00 | 0.13 |
| USD	QATAR, STATE OF-REG-S 2.37500% 16-02.06.21 | 600 000.00 | 603 187.50 | 0.31 |
| USD	QATAR, STATE OF-REG-S 4.00000% 19-14.03.29 | 900 000.00 | 1 055 250.00 | 0.54 |
| USD	QUEBEC, PROVINCE OF 2.50000% 16-20.04.26 | 900 000.00 | 983 540.97 | 0.50 |
| USD	QUEBEC, PROVINCE OF 2.75000% 17-12.04.27 | 900 000.00 | 1 004 027.80 | 0.52 |
| USD	ROCHE HOLDINGS INC-REG-S 3.62500% 18-17.09.28 | 975 000.00 | 1 137 605.19 | 0.58 |
| USD	SANOFI 4.00000% 11-29.03.21 | 700 000.00 | 704 334.10 | 0.36 |
| USD	SHELL INTERNATIONAL FINANCE BV 2.87500% 16-10.05.26 | 1 150 000.00 | 1 259 514.66 | 0.65 |
| USD	STATE STREET CORP 2.40000% 20-24.01.30 | 460 000.00 | 494 344.04 | 0.25 |
| USD	TOTAL CAPITAL INTERNATIONAL SA 3.45500% 19-19.02.29 | 1 100 000.00 | 1 246 559.22 | 0.64 |
| USD	VISA INC 2.05000% 20-15.04.30 | 700 000.00 | 731 728.87 | 0.38 |
| USD	VISA INC 3.15000% 15-14.12.25 | 750 000.00 | 834 855.11 | 0.43 |
| USD	WALMART INC 3.05000% 19-08.07.26 | 1 090 000.00 | 1 219 257.75 | 0.63 |
| USD	WALMART INC 3.12500% 18-23.06.21 | 375 000.00 | 379 353.62 | 0.19 |
| USD	WALMART INC 3.70000% 18-26.06.28 | 1 000 000.00 | 1 164 663.34 | 0.60 |
| USD	WESTPAC BANKING CORP 2.85000% 16-13.05.26 | 1 440 000.00 | 1 584 691.20 | 0.81 |
| Total USD |  | 46 695 956.80 | 24.00 |
| Total Notes, fixed rate |  | 46 695 956.80 | 24.00 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	CITIGROUP INC 3M LIBOR+143BP 16-01.09.23 | 600 000.00 | 610 796.95 | 0.31 |
| Total USD |  | 610 796.95 | 0.31 |
| Total Notes, floating rate |  | 610 796.95 | 0.31 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	ABU DHABI, EMIRATE OF-REG-S 3.12500% 20-16.04.30 | 900 000.00 | 1 003 500.00 | 0.52 |
| USD	ASB FINANCE LTD-REG-S 2.12500% 16-01.09.21 | 400 000.00 | 404 139.52 | 0.21 |
| USD	ASIAN DEVELOPMENT BANK 2.00000% 15-22.01.25 | 750 000.00 | 797 649.64 | 0.41 |
| USD	ASIAN DEVELOPMENT BANK 2.62500% 17-12.01.27 | 1 000 000.00 | 1 110 440.00 | 0.57 |
| USD	ASIAN DEVELOPMENT BANK 2.00000% 17-16.02.22 | 580 000.00 | 591 091.56 | 0.30 |
| USD	ASIAN DEVELOPMENT BANK 2.75000% 18-19.01.28 | 700 000.00 | 787 795.89 | 0.40 |
| USD	ASIAN DEVELOPMENT BANK 1.75000% 19-19.09.29 | 1 020 000.00 | 1 071 838.30 | 0.55 |
| USD	AUSTRALIA & NEW ZEALAND BANKING GRP/NY 2.30000% 16-01.06.21 | 1 300 000.00 | 1 308 177.00 | 0.67 |
| USD	BANK OF NEW YORK CO INC 0.75000% 21-28.01.26 | 600 000.00 | 599 471.51 | 0.31 |
| USD	CAISSE D’AMOR DE LA DETTE SOCIALE-REG-S 3.37500% 14-20.03.24 | 1 225 000.00 | 1 340 676.75 | 0.69 |
| USD	CPPIB CAPITAL INC-REG-S 2.75000% 17-02.11.27 | 850 000.00 | 951 745.00 | 0.49 |
| USD	IDB TRUST SERVICES LTD-REG-S 2.26100% 17-26.09.22 | 900 000.00 | 924 750.00 | 0.48 |
| USD	JAPAN TOBACCO INC-REG-S 2.80000% 16-13.04.26 | 400 000.00 | 431 360.00 | 0.22 |
| USD	MDGH - GMTN BV-REG-S 3.00000% 17-19.04.24 | 725 000.00 | 773 031.25 | 0.40 |
| USD	MDGH - GMTN BV-REG-S 2.87500% 20-21.05.30 | 800 000.00 | 853 250.00 | 0.44 |
| USD	NESTLE HOLDINGS INC-REG-S 2.37500% 17-18.01.22 | 1 050 000.00 | 1 070 794.20 | 0.55 |
| USD	NESTLE HOLDINGS INC-REG-S 3.12500% 18-22.03.23 | 400 000.00 | 423 458.08 | 0.22 |
| USD	NISSAN MOTOR ACCEPTANCE CORP-REG-S 2.60000% 17-28.09.22 | 100 000.00 | 102 622.12 | 0.05 |

UBS (Lux) Strategy Fund – Fixed Income (USD) Annual report and audited financial statements as of 31 January 2021
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | SP POWERASSETS LTD-REG-S 3.25000% 15-24.11.25 | 1 000 000.00 | 1 109 230.00 | 0.57 |
| USD | SUMITOMO MITSUI BANKING CORP-REG-S 2.44000% 19-18.06.24 | 479 000.00 | 508 365.33 | 0.26 |
| USD | SVENSK EXPORTKREDIT AB 1.75000% 16-10.03.21 | 550 000.00 | 550 946.00 | 0.28 |
| USD | TORONTO-DOMINION BANK 0.75000% 20-11.09.25 | 600 000.00 | 599 071.98 | 0.31 |
| USD | TOYOTA MOTOR CREDIT CORP 2.60000% 17-11.01.22 | 575 000.00 | 587 214.76 | 0.30 |
| Total USD |  |  | 17 900 618.89 | 9.20 |
| Total Medium term notes, fixed rate |  | 17 900 618.89 | 9.20 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	BNG BANK NV-REG-S 2.62500% 14-28.04.21 | 1 100 000.00 | 1 106 560.40 | 0.57 |
| USD	BNG BANK NV-REG-S 2.37500% 16-16.03.26 | 220 000.00 | 239 338.00 | 0.12 |
| USD	BRITISH COLUMBIA, PROVINCE OF 2.25000% 16-02.06.26 | 700 000.00 | 757 881.68 | 0.39 |
| USD	EUROPEAN INVESTMENT BANK 3.25000% 14-29.01.24 | 620 000.00 | 674 914.71 | 0.35 |
| USD	EUROPEAN INVESTMENT BANK 1.87500% 15-10.02.25 | 570 000.00 | 603 551.29 | 0.31 |
| USD	EUROPEAN INVESTMENT BANK 2.12500% 16-13.04.26 | 400 000.00 | 431 600.76 | 0.22 |
| USD	EUROPEAN INVESTMENT BANK 0.62500% 20-21.10.27 | 850 000.00 | 839 964.97 | 0.43 |
| USD	ING BANK NV-REG-S 2.62500% 12-05.12.22 | 1 200 000.00 | 1 251 458.40 | 0.64 |
| USD	INTER-AMERICAN DEVELOPMENT BANK 3.00000% 14-21.02.24 | 1 150 000.00 | 1 244 903.32 | 0.64 |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 7.62500% 93-19.01.23 | 325 000.00 | 372 133.13 | 0.19 |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 0.87500% 20-14.05.30 | 500 000.00 | 486 491.87 | 0.25 |
| USD	KOREA, REPUBLIC OF 3.87500% 13-11.09.23 | 900 000.00 | 980 718.75 | 0.50 |
| USD	KREDITANSTALT FUER WIEDERAUFBAU 2.50000% 14-20.11.24 | 650 000.00 | 702 926.95 | 0.36 |
| USD	KREDITANSTALT FUER WIEDERAUFBAU 0.75000% 20-30.09.30 | 1 050 000.00 | 1 009 308.44 | 0.52 |
| USD	MICROSOFT CORP 2.40000% 16-08.08.26 | 950 000.00 | 1 029 845.44 | 0.53 |
| USD	NOVARTIS CAPITAL CORP 3.40000% 14-06.05.24 | 900 000.00 | 986 748.86 | 0.51 |
| USD	OESTERREICHISCHE KONTROLLBANK AG 2.37500% 14-01.10.21 | 350 000.00 | 355 035.26 | 0.18 |
| USD	ONTARIO, PROVINCE OF 1.12500% 20-07.10.30 | 1 350 000.00 | 1 315 975.61 | 0.68 |
| USD	ONTARIO, PROVINCE OF 3.20000% 14-16.05.24 | 800 000.00 | 873 586.15 | 0.45 |
| Total USD |  | 15 262 943.99 | 7.84 |
| Total Bonds, fixed rate |  | 15 262 943.99 | 7.84 |
| Treasury notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 5.37500% 01-15.02.31 | 5 000.00 | 7 076.76 | 0.01 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.08.27 | 5 000.00 | 5 502.93 | 0.01 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.11.27 | 5 000.00 | 5 504.69 | 0.00 |
| USD	AMERICA, UNITED STATES OF 2.62500% 19-15.02.29 | 5 000.00 | 5 675.20 | 0.01 |
| USD	AMERICA, UNITED STATES OF 1.50000% 15-31.01.22 | 55 000.00 | 55 769.14 | 0.03 |
| USD	AMERICA, UNITED STATES OF 1.12500% 16-31.07.21 | 5 000.00 | 5 025.78 | 0.00 |
| USD	AMERICA, UNITED STATES OF 1.75000% 12-15.05.22 | 5 000.00 | 5 105.86 | 0.00 |
| USD	AMERICA, UNITED STATES OF 1.37500% 16-30.09.23 | 5 000.00 | 5 162.50 | 0.00 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.02.27 | 200 000.00 | 219 554.69 | 0.11 |
| USD	AMERICA, UNITED STATES OF 2.50000% 13-15.08.23 | 55 000.00 | 58 282.81 | 0.03 |
| USD	AMERICA, UNITED STATES OF 2.37500% 17-15.05.27 | 10 000.00 | 11 074.21 | 0.01 |
| USD	AMERICA, UNITED STATES OF 2.12500% 15-15.05.25 | 5 000.00 | 5 381.06 | 0.00 |
| USD	AMERICA, UNITED STATES OF 1.75000% 19-15.11.29 | 5 000.00 | 5 334.37 | 0.00 |
| USD	AMERICA, UNITED STATES OF 1.50000% 19-30.11.24 | 5 000.00 | 5 231.84 | 0.00 |
| USD	AMERICA, UNITED STATES OF 0.62500% 20-15.05.30 | 975 000.00 | 939 503.90 | 0.48 |
| Total USD |  | 1 339 185.74 | 0.69 |
| Total Treasury notes, fixed rate |  | 1 339 185.74 | 0.69 |
| Treasury notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 12-15.07.22 | 725 000.00 | 849 836.91 | 0.44 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 20-15.01.30 | 860 000.00 | 973 888.86 | 0.50 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI INDEX 13-15.07.23 | 755 000.00 | 899 330.62 | 0.46 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 15-15.07.25 | 740 000.00 | 899 195.74 | 0.46 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 17-15.01.27 | 710 000.00 | 860 545.14 | 0.44 |
| USD	AMERICA, UNITED STATES OF 0.625%/CPI LINKED 16-15.01.26 | 700 000.00 | 862 122.73 | 0.44 |
| USD	AMERICA, UNITED STATES OF 0.750%/CPI LINKED 18-15.07.28 | 710 000.00 | 862 844.73 | 0.45 |
| USD	AMERICA, UNITED STATES OF 2.375%/CPI LINKED 04-15.01.25 | 655 000.00 | 1 064 012.90 | 0.55 |
| USD	AMERICA, UNITED STATES OF 3.875%/CPI LINKED 99-15.04.29 | 375 000.00 | 858 792.15 | 0.44 |
| Total USD |  | 8 130 569.78 | 4.18 |
| Total Treasury notes, floating rate |  | 8 130 569.78 | 4.18 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 89 940 072.15 | 46.22 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	SCENTRE GROUP TRUST 1 / 2-REG-S 3.75000% 17-23.03.27 | 300 000.00 | 330 163.61 | 0.17 |
| Total USD |  | 330 163.61 | 0.17 |
| Total Notes, fixed rate |  | 330 163.61 | 0.17 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	GUARDIAN LIFE GLOBAL FUNDING-REG-S 2.00000% 16-26.04.21 | 450 000.00 | 451 906.98 | 0.23 |
| Total USD |  | 451 906.98 | 0.23 |
| Total Medium term notes, fixed rate |  | 451 906.98 | 0.23 |

UBS (Lux) Strategy Fund – Fixed Income (USD)
Annual report and audited financial statements as of 31 January 2021
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |

Medium term notes, zero coupon
USD
| USD | INTL BK FOR RECONSTR & DEVT WORLD BANK 0.00000% 00-01.05.30 | 420 000.00 | 361 645.37 | 0.19 |
| --- | --- | --- | --- | --- |
| Total USD | 361 645.37 | 0.19 |
| Total Medium term notes, zero coupon |  | 361 645.37 | 0.19 |
| Medium term notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	GOLDMAN SACHS GROUP 3M LIBOR+160BP 13-29.11.23 | 475 000.00 | 492 074.66 | 0.25 |
| Total USD |  | 492 074.66 | 0.25 |
| Total Medium term notes, floating rate | 492 074.66 | 0.25 |
| Total Transferable securities and money market instruments traded on another regulated market | 1 635 790.62 | 0.84 |
| UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 |  |  |
| Investment funds, open end |  |  |
| Luxembourg |  |  |
| EUR | UBS (LUX) BOND FUND - EURO HIGH YIELD (EUR) I-X-ACC | 23 818.00 | 4 017 831.39 | 2.06 |
| USD | UBS (LUX) BOND SICAV - SHORT TERM USD CORPORATES (USD) U-X-A | 1 788.00 | 20 388 778.56 | 10.48 |
| USD | UBS (LUX) BOND SICAV - USD CORPORATES U-X-ACC | 528.00 | 6 917 560.32 | 3.56 |
| USD | UBS (LUX) BOND SICAV - USD HIGH YIELD U-X-ACC | 284.80 | 6 051 394.69 | 3.11 |
| USD | UBS (LUX) BOND SICAV - EMERGING ECONOMIES CORP (USD)-I-X-DIS | 73 337.00 | 8 199 076.60 | 4.21 |
| USD | UBS (LUX) BOND SICAV - USD INVEST GRADE CORP USD U X ACC | 2 852.00 | 35 086 787.04 | 18.03 |
| USD | UBS (LUX) EMERGING ECONOMIES FUND-GLOBAL BONDS (USD)-U-X ACC | 912.00 | 13 281 839.04 | 6.83 |
| USD | UBS (LUX) MONEY MARKET FUND - USD U-X-ACC | 631.00 | 7 079 681.18 | 3.64 |
| Total Luxembourg | 101 022 948.82 | 51.92 |
| Total Investment funds, open end | 101 022 948.82 | 51.92 |
| Total UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 | 101 022 948.82 | 51.92 |
| Total investments in securities | 192 598 811.59 | 98.98 |

| Derivative instruments |  |
| --- | --- |
| Derivative instruments listed on an official stock exchange |
| Financial Futures on bonds |
|  |  |  |  |
| EUR	EURO BTP ITALY GOVERMENT FUTURE 08.03.21 | 24.00 | -4 665.22 | 0.00 |
| USD	US LONG BOND FUTURE 22.03.21 | 24.00 | -138 750.00 | -0.07 |
| Total Financial Futures on bonds |  | -143 415.22 | -0.07 |
| Total Derivative instruments listed on an official stock exchange |  | -143 415.22 | -0.07 |
| Total Derivative instruments |  | -143 415.22 | -0.07 |
| Forward Foreign Exchange contracts |  |  |  |
| Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date |  |  |  |

| USD | 703 523.52 | AUD | 960 000.00 | 4.2.2021 | -33 050.88 | -0.02 |
| --- | --- | --- | --- | --- | --- | --- |
| SGD | 950 000.00 | USD | 706 999.37 | 4.2.2021 | 8 839.12 | 0.00 |
| USD | 2 188 657.77 | EUR | 1 840 801.51 | 4.2.2021 | -47 897.64 | -0.02 |
| CAD | 550 000.00 | JPY | 44 809 380.00 | 4.2.2021 | 2 537.02 | 0.00 |
| NOK | 5 720 000.00 | USD | 647 983.89 | 4.2.2021 | 20 791.99 | 0.01 |
| AUD | 870 000.00 | JPY | 68 215 253.00 | 4.2.2021 | 15 939.72 | 0.01 |
| USD | 1 108 334.77 | JPY | 113 856 017.00 | 19.3.2021 | 20 328.64 | 0.01 |
| CAD | 560 000.00 | USD | 442 743.75 | 19.3.2021 | -4 323.92 | 0.00 |
| USD | 2 386 535.94 | EUR | 1 930 196.87 | 19.3.2021 | 39 188.10 | 0.02 |
| USD | 3 602.17 | GBP | 2 635.55 | 19.3.2021 | -17.83 | 0.00 |
| NOK | 5 730 000.00 | USD | 681 736.66 | 19.3.2021 | -11 861.82 | 0.00 |
| SGD | 940 000.00 | USD | 714 270.52 | 19.3.2021 | -5 977.49 | 0.00 |
| USD | 70 366.59 | AUD | 90 000.00 | 19.3.2021 | 1 295.76 | 0.00 |
| USD | 48 407.56 | EUR | 40 000.00 | 4.2.2021 | -192.04 | 0.00 |
| USD | 48 453.04 | EUR | 40 000.00 | 19.3.2021 | -191.69 | 0.00 |
| USD | 46 784.21 | NOK | 400 000.00 | 4.2.2021 | 16.67 | 0.00 |
| USD | 46 769.05 | NOK | 400 000.00 | 19.3.2021 | 6.41 | 0.00 |
| INR | 106 300 000.00 | USD | 1 441 629.60 | 26.3.2021 | 6 421.70 | 0.00 |
| IDR | 19 500 560 000.00 | USD | 1 377 352.73 | 26.3.2021 | 6 789.47 | 0.00 |
| USD | 1 430 680.59 | TWD | 39 730 000.00 | 26.3.2021 | 3 222.97 | 0.00 |
| RUB | 63 660 000.00 | USD | 857 333.32 | 26.3.2021 | -18 618.46 | -0.01 |
| USD | 103 002.23 | GBP | 75 000.00 | 4.2.2021 | 10.73 | 0.00 |
| USD | 103 025.03 | GBP | 75 000.00 | 19.3.2021 | 10.58 | 0.00 |
| EUR | 150 000.00 | USD | 181 993.80 | 4.2.2021 | 254.70 | 0.00 |
| EUR | 150 000.00 | USD | 182 166.45 | 19.3.2021 | 251.30 | 0.00 |
| Total Forward Foreign Exchange contracts | 3 773.11 | 0.00 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 819 938.57 | 0.42 |
| Bank overdraft and other short-term liabilities | -1.11 | 0.00 |
| Other assets and liabilities | 1 311 937.95 | 0.67 |
| Total net assets | 194 591 044.89 | 100.00 |

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

Translation (ENFR, 2021-01-31):
# UBS (Lux) Strategy Fund – Fixed Income (USD)
| Comparaison sur trois ans |  |
| --- | --- |
|  | ISIN | 31.1.2021 | 31.1.2020 | 31.1.2019 |
| Actif net en USD |  | 194 591 044.89 | 167 562 436.07 | 188 027 550.04 |
| Catégorie I-A3-acc | LU1421906303 |  |  |  |
| Parts en circulation |  | 32 484.4850 | 22 212.2970 | 12 646.8200 |
| Valeur nette d’inventaire par part en USD |  | 115.66 | 110.42 | 102.75 |
| Prix d’émission et de rachat par part en USD 1 |  | 115.66 | 110.42 | 102.75 |
| Catégorie P-acc | LU0039703532 |  |  |  |
| Parts en circulation |  | 44 757.9080 | 49 236.4150 | 61 374.2330 |
| Valeur nette d’inventaire par part en USD |  | 2 818.35 | 2 707.23 | 2 534.98 |
| Prix d’émission et de rachat par part en USD 1 |  | 2 818.35 | 2 707.23 | 2 534.98 |
| Catégorie P-dist | LU0039703375 |  |  |  |
| Parts en circulation |  | 17 549.1040 | 15 655.9230 | 22 324.8290 |
| Valeur nette d’inventaire par part en USD |  | 1 103.75 | 1 081.03 | 1 031.59 |
| Prix d’émission et de rachat par part en USD 1 |  | 1 103.75 | 1 081.03 | 1 031.59 |
| Catégorie P-mdist | LU1415540852 |  |  |  |
| Parts en circulation |  | 9 110.9870 | 6 587.8490 | 4 902.8970 |
| Valeur nette d’inventaire par part en USD |  | 1 008.95 | 987.27 | 956.71 |
| Prix d’émission et de rachat par part en USD 1 |  | 1 008.95 | 987.27 | 956.71 |
| Catégorie Q-acc | LU1240800026 |  |  |  |
| Parts en circulation |  | 299 146.1970 | 70 556.5910 | 30 334.7170 |
| Valeur nette d’inventaire par part en USD |  | 119.39 | 114.20 | 106.48 |
| Prix d’émission et de rachat par part en USD 1 |  | 119.39 | 114.20 | 106.48 |
| Catégorie Q-dist | LU1240800299 |  |  |  |
| Parts en circulation |  | 3 756.7740 | 3 084.7740 | 1 910.3620 |
| Valeur nette d’inventaire par part en USD |  | 109.51 | 106.80 | 101.88 |
| Prix d’émission et de rachat par part en USD 1 |  | 109.51 | 106.80 | 101.88 |
| 1  Voir note 1 |  |  |  |  |
| Performance |  |  |  |  |
|  | Devise | 2020/2021 | 2019/2020 | 2018/2019 |
| Catégorie I-A3-acc | USD | 4.7% | 7.5% | 1.3% |
| Catégorie P-acc | USD | 4.1% | 6.8% | 0.7% |
| Catégorie P-dist | USD | 4.1% | 6.8% | 0.7% |
| Catégorie P-mdist | USD | 4.1% | 6.8% | 0.7% |
| Catégorie Q-acc | USD | 4.5% | 7.3% | 1.1% |
| Catégorie Q-dist | USD | 4.5% | 7.3% | 1.2% |

La performance historique n’est pas un indicateur de la performance actuelle ou future.
Les données de performance ne tiennent pas compte des commissions et des frais prélevés lors de l’émission et du rachat des parts. Les données de performance ne sont pas auditées.
Le compartiment n’a pas d’indice de référence.

## Rapport du Gestionnaire de portefeuille
Au premier trimestre, le Covid-19 a fait plonger l’économie mondiale dans la plus forte récession des dernières décennies. Les plans d’aide successifs des gou- vernements ont stabilisé l’activité économique et ont contribué à une solide reprise sur l’ensemble des mar- chés financiers internationaux.
Plusieurs annonces d’avancées dans le secteur phar- maceutique ont encore amélioré l’opinion des inves- tisseurs vers la fin de l’année, même si le scepticisme vis-à-vis de la mise en œuvre des programmes de vacci- nation a quelque peu réduit l’espoir de voir une normali- sation rapide de la situation en 2021.
En raison de sa nature défensive, la stratégie a bien résis- té aux débuts difficiles de 2020. La réaction ultérieure a permis de récupérer les pertes.
Au cours de l’exercice allant du 1
er 
février 2020 au 31 janvier 2021, le compartiment a affiché une perfor- mance positive.

## Structure du portefeuille-titres
Répartition selon les devises en % de l’actif net	
USD	96.91
Total	98.98
EUR	2.07
Répartition selon les instruments de placement en % de l’actif net	
Fonds d’investissement, ouvert	51.92
| Billets, taux fixe | 24.17 |
| --- | --- |
| Medium-Term Notes, taux fixe | 9.43 |
| Obligations, taux fixe | 7.84 |
| Bons du Trésor à moyen terme, taux variable | 4.18 |
| Bons du Trésor à moyen terme, taux fixe | 0.69 |
| Billets, taux variable | 0.31 |
| Medium-Term Notes, taux variable | 0.25 |
| Medium-Term Notes, coupon zéro | 0.19 |
| Total | 98.98 |

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

## Etat des actifs nets
Actif	31.1.2021
USD
Portefeuille-titres, cours d’achat	179 982 873.63
| Portefeuille-titres, plus-/(moins)-value non réalisée | 	12 615 937.96	 |
| --- | --- |
| Total du Portefeuille-titres (note 1) | 192 598 811.59 |
| Avoirs en banque, dépôts à vue et à terme | 450 175.65 |
| Autres liquidités (marges) | 369 762.92 |
| Créances sur achats de titres (note 1) | 1 323 922.24 |
| Créances sur souscriptions | 5 133.44 |
| Intérêts à recevoir sur titres | 528 880.59 |
| Intérêts à recevoir sur liquidités | 6.65 |
| Autres créances | 48 565.23 |
| Bénéfice non réalisé(e) sur contrats de change à terme (note 1) | 3 773.11 |
| Total de l’Actif | 195 329 031.42 |
|  |  |
| Passif |  |
| Perte non réalisée sur contrats financiers à terme (note 1) | -143 415.22 |
| Crédit en compte courant | -1.11 |
| Intérêts à payer sur crédit en compte courant | -2.75 |
| Engagements sur rachats | -476 913.02 |
| Provisions pour commission de gestion forfaitaire (note 2) | -76 985.03 |
| Provisions pour taxe d’abonnement (note 3) | -3 710.50 |
| Provisions pour autres commissions et frais (note 2) | 	-36 958.90	 |
| Total des Provisions pour frais | -117 654.43 |
| Total du Passif | -737 986.53 |
|  |  |
| Actif net à la fin de l’exercice | 194 591 044.89 |
| Etat des opérations | USD |
| Revenus | 1.2.2020-31.1.2021 |
| Revenus d’intérêts sur liquidités | 8 564.77 |
| Intérêts sur titres | 1 982 416.94 |
| Dividendes | 290 211.93 |
| Revenus d’intérêts sur swaps (note 1) | 9 307.13 |
| Revenus sur prêts de titres (note 15) | 43 874.60 |
| Autres revenus (note 4) | 334 060.13 |
| Total des Revenus | 2 668 435.50 |
|  |  |
| Charges |  |
| Charges d’intérêts sur swaps (note 1) | -2 581.50 |
| Commission de gestion forfaitaire (note 2) | -1 788 338.70 |
| Taxe d’abonnement (note 3) | -42 821.29 |
| Frais sur prêts de titres (note 15) | -17 549.84 |
| Autres commissions et frais (note 2) | -21 380.97 |
| Charges d’intérêts sur liquidités et crédit en compte courant | -434.05 |
| Total des Charges | -1 873 106.35 |
|  |  |
| Revenus/pertes net(te)s de placements | 795 329.15 |
|  |  |
| Bénéfices/(pertes) réalisé(e)s (note 1) |  |
| Bénéfice/(perte) réalisé(e) sur titres évalués à la valeur de marché hors options | 3 825 312.72 |
| Bénéfice/perte réalisé(e) sur contrats financiers à terme | -12 526.44 |
| Bénéfice/(perte) réalisé(e) sur contrats de change à terme | -599 572.68 |
| Bénéfice/(perte) réalisé(e) sur swaps | 51 092.94 |
| Bénéfice/(perte) de change réalisé(e) | 48 512.95 |
| Total des Bénéfices/(pertes) réalisé(e)s | 3 312 819.49 |
|  |  |
| Bénéfice/(perte) net(te) réalisé(e) au cours de l’exercice | 4 108 148.64 |
|  |  |
| Fluctuations de la plus-/(moins)-value non réalisée (note 1) |  |
| Plus-/(moins)-value non réalisée sur titres évalués à la valeur de marché hors options | 2 798 411.26 |
| Plus-/(moins)-value non réalisée sur instruments du marché monétaire et titres évalués en fonction des rendements | 9 605.71 |
| Plus-/(moins)-value non réalisée sur contrats financiers à terme | -143 415.22 |
| Plus-/(moins)-value non réalisée sur contrats de change à terme | -75 433.50 |
| Total des Fluctuations de la plus-/(moins)-value non réalisée | 2 589 168.25 |
|  |  |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | 6 697 316.89 |

UBS (Lux) Strategy Fund – Fixed Income (USD)
Rapport annuel et états financiers révisés au 31 janvier 2021
| Fluctuations de l’actif net |  |
| --- | --- |
|  |  | USD |
|  |  | 1.2.2020-31.1.2021 |
| Actif net au début de l’exercice |  | 167 562 436.07 |
| Souscriptions |  | 87 069 766.18 |
| Rachats |  | 	-66 257 268.41	 |
| Total des Entrées/(sorties) de capitaux |  | 20 812 497.77 |
| Dividendes versés |  | -481 205.84 |
| Revenus/pertes net(te)s de placements |  | 795 329.15 |
| Total des Bénéfices/(pertes) réalisé(e)s |  | 3 312 819.49 |
| Total des Fluctuations de la plus-/(moins)-value non réalisée |  | 	2 589 168.25	 |
| Augmentation/(diminution) nette de l’actif net issue de l’activité |  | 6 697 316.89 |
| Actif net à la fin de l’exercice |  | 194 591 044.89 |
| Evolution des parts en circulation |  |  |
|  |  | 1.2.2020-31.1.2021 |
| Catégorie |  | I-A3-acc |
| Nombre de parts en circulation au début de l’exercice |  | 22 212.2970 |
| Nombre de parts émises |  | 21 287.1240 |
| Nombre de parts rachetées |  | -11 014.9360 |
| Nombre de parts en circulation à la fin de l’exercice |  | 32 484.4850 |
| Catégorie |  | P-acc |
| Nombre de parts en circulation au début de l’exercice |  | 49 236.4150 |
| Nombre de parts émises |  | 13 944.4520 |
| Nombre de parts rachetées |  | -18 422.9590 |
| Nombre de parts en circulation à la fin de l’exercice |  | 44 757.9080 |
| Catégorie |  | P-dist |
| Nombre de parts en circulation au début de l’exercice |  | 15 655.9230 |
| Nombre de parts émises |  | 3 963.7000 |
| Nombre de parts rachetées |  | -2 070.5190 |
| Nombre de parts en circulation à la fin de l’exercice |  | 17 549.1040 |
| Catégorie |  | P-mdist |
| Nombre de parts en circulation au début de l’exercice |  | 6 587.8490 |
| Nombre de parts émises |  | 11 096.1270 |
| Nombre de parts rachetées |  | -8 572.9890 |
| Nombre de parts en circulation à la fin de l’exercice |  | 9 110.9870 |
| Catégorie |  | Q-acc |
| Nombre de parts en circulation au début de l’exercice |  | 70 556.5910 |
| Nombre de parts émises |  | 257 746.6380 |
| Nombre de parts rachetées |  | -29 157.0320 |
| Nombre de parts en circulation à la fin de l’exercice |  | 299 146.1970 |
| Catégorie |  | Q-dist |
| Nombre de parts en circulation au début de l’exercice |  | 3 084.7740 |
| Nombre de parts émises |  | 672.0000 |
| Nombre de parts rachetées |  | 0.0000 |
| Nombre de parts en circulation à la fin de l’exercice |  | 3 756.7740 |
| Distribution annuelle 1 |  |  |
| UBS (Lux) Strategy Fund – Fixed Income (USD)	Date de détachement | Date de versement | Devise	Montant par part |
| P-dist	1.4.2020 | 6.4.2020 | USD	19.99 |
| Q-dist	1.4.2020 | 6.4.2020 | USD	1.97 |
| Distribution mensuelle 1 |  |  |
| UBS (Lux) Strategy Fund – Fixed Income (USD)	Date de détachement | Date de versement | Devise	Montant par part |
| P-mdist	17.2.2020 | 20.2.2020 | USD	2.14 |
| P-mdist	16.3.2020 | 19.3.2020 | USD	2.15 |
| P-mdist	15.4.2020 | 20.4.2020 | USD	2.05 |
| P-mdist	15.5.2020 | 20.5.2020 | USD	2.10 |
| P-mdist	15.6.2020 | 18.6.2020 | USD	2.13 |
| P-mdist	15.7.2020 | 20.7.2020 | USD	1.08 |
| P-mdist	17.8.2020 | 20.8.2020 | USD	1.09 |
| P-mdist	15.9.2020 | 18.9.2020 | USD	1.11 |
| P-mdist	15.10.2020 | 20.10.2020 | USD	1.10 |
| P-mdist	16.11.2020 | 19.11.2020 | USD	1.10 |
| P-mdist	15.12.2020 | 18.12.2020 | USD	1.11 |
| P-mdist	15.1.2021 | 20.1.2021 | USD	1.12 |
| 1  Voir note 5 |  |  |

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

## Etat du portefeuille-titres et autres actifs nets au 31 janvier 2021
| Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | contrats de | net |
|  |  | change à terme/ |  |
|  |  | swaps (note 1) |  |
| Titres et instruments du marché monétaire négociés sur une bourse officielle Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	ALBERTA, PROVINCE OF 3.30000% 18-15.03.28 | 300 000.00 | 343 657.15 | 0.18 |
| USD	AMERICAN EXPRESS CO 3.40000% 18-27.02.23 | 700 000.00 | 741 846.00 | 0.38 |
| USD	APPLE INC 1.65000% 20-11.05.30 | 599 000.00 | 605 560.96 | 0.31 |
| USD	APPLE INC 2.20000% 19-11.09.29 | 800 000.00 | 846 079.24 | 0.43 |
| USD	APPLE INC 2.40000% 13-03.05.23 | 885 000.00 | 927 015.93 | 0.48 |
| USD	APPLE INC 2.45000% 16-04.08.26 | 1 000 000.00 | 1 083 119.51 | 0.56 |
| USD	APPLE INC 3.25000% 16-23.02.26 | 1 000 000.00 | 1 115 861.00 | 0.57 |
| USD	APPLE INC 3.45000% 14-06.05.24 | 825 000.00 | 905 775.67 | 0.47 |
| USD	BAYER US FINANCE II LLC-REG-S 3.87500% 18-15.12.23 | 400 000.00 | 435 840.24 | 0.22 |
| USD	BERKSHIRE HATHAWAY FINANCE CORP 1.85000% 20-12.03.30 | 200 000.00 | 206 744.16 | 0.11 |
| USD	BERKSHIRE HATHAWAY INC 2.75000% 16-15.03.23 | 900 000.00 | 942 633.61 | 0.48 |
| USD	BERKSHIRE HATHAWAY INC 3.12500% 16-15.03.26 | 500 000.00 | 555 035.58 | 0.28 |
| USD	CHEVRON CORP 2.23600% 20-11.05.30 | 564 000.00 | 589 625.22 | 0.30 |
| USD	EQUINOR ASA 2.37500% 20-22.05.30 | 700 000.00 | 737 245.02 | 0.38 |
| USD	EQUINOR ASA 3.62500% 18-10.09.28 | 745 000.00 | 853 895.19 | 0.44 |
| USD	EUROPEAN INVESTMENT BANK 2.37500% 17-24.05.27 | 870 000.00 | 958 044.00 | 0.49 |
| USD	EUROPEAN INVESTMENT BANK 2.62500% 19-20.05.22 | 900 000.00 | 928 641.60 | 0.48 |
| USD	EUROPEAN INVESTMENT BANK 0.87500% 20-17.05.30 | 1 300 000.00 | 1 265 151.11 | 0.65 |
| USD	EXXON MOBIL CORP 3.04300% 16-01.03.26 | 850 000.00 | 933 589.07 | 0.48 |
| USD	INTER-AMERICAN DEVELOPMENT BANK 2.25000% 19-18.06.29 | 1 100 000.00 | 1 204 783.87 | 0.62 |
| USD	INTERNATIONAL BUSINESS MACHINES CORP 2.85000% 19-13.05.22 | 1 070 000.00 | 1 105 709.36 | 0.57 |
| USD	JOHNSON & JOHNSON 1.30000% 20-01.09.30 | 800 000.00 | 789 148.17 | 0.41 |
| USD	JOHNSON & JOHNSON 2.45000% 16-01.03.26 | 500 000.00 | 541 906.00 | 0.28 |
| USD	JOHNSON & JOHNSON 2.90000% 17-15.01.28 | 800 000.00 | 891 857.59 | 0.46 |
| USD	JOHNSON & JOHNSON 3.37500% 13-05.12.23 | 600 000.00 | 654 340.09 | 0.34 |
| USD	KOREA DEVELOPMENT BANK 4.62500% 11-16.11.21 | 1 075 000.00 | 1 111 953.13 | 0.57 |
| USD	KOREA HYDRO&NUCLEAR POWER CO LTD-REG-S 3.12500% 17-25.07.27 | 900 000.00 | 1 009 687.50 | 0.52 |
| USD	KOREA RESOURCES CORP-REG-S 3.00000% 17-24.04.22 | 900 000.00 | 925 312.50 | 0.48 |
| USD	KREDITANSTALT FUER WIEDERAUFBAU 2.12500% 13-17.01.23 | 805 000.00 | 834 607.90 | 0.43 |
| USD	KREDITANSTALT FUER WIEDERAUFBAU 2.00000% 15-02.05.25 | 600 000.00 | 639 455.84 | 0.33 |
| USD	KREDITANSTALT FUER WIEDERAUFBAU 2.87500% 18-03.04.28 | 970 000.00 | 1 104 201.17 | 0.57 |
| USD	KREDITANSTALT FUER WIEDERAUFBAU 1.75000% 19-14.09.29 | 850 000.00 | 896 138.00 | 0.46 |
| USD	KUWAIT INTERNATIONAL GOVT BOND-REG-S 3.50000% 17-20.03.27 | 1 300 000.00 | 1 468 187.50 | 0.75 |
| USD	LANDWIRTSCHAFTLICHE RENTENBANK 2.00000% 15-13.01.25 | 1 120 000.00 | 1 189 669.35 | 0.61 |
| USD	MICROSOFT CORP 3.30000% 17-06.02.27 | 1 020 000.00 | 1 158 791.49 | 0.60 |
| USD	NOVARTIS CAPITAL CORP 3.10000% 17-17.05.27 | 950 000.00 | 1 066 696.31 | 0.55 |
| USD	ONTARIO, PROVINCE OF 2.00000% 19-02.10.29 | 450 000.00 | 475 237.40 | 0.24 |
| USD	PROCTER & GAMBLE CO 1.85000% 16-02.02.21 | 250 000.00 | 250 000.00 | 0.13 |
| USD	QATAR, STATE OF-REG-S 2.37500% 16-02.06.21 | 600 000.00 | 603 187.50 | 0.31 |
| USD	QATAR, STATE OF-REG-S 4.00000% 19-14.03.29 | 900 000.00 | 1 055 250.00 | 0.54 |
| USD	QUEBEC, PROVINCE OF 2.50000% 16-20.04.26 | 900 000.00 | 983 540.97 | 0.50 |
| USD	QUEBEC, PROVINCE OF 2.75000% 17-12.04.27 | 900 000.00 | 1 004 027.80 | 0.52 |
| USD	ROCHE HOLDINGS INC-REG-S 3.62500% 18-17.09.28 | 975 000.00 | 1 137 605.19 | 0.58 |
| USD	SANOFI 4.00000% 11-29.03.21 | 700 000.00 | 704 334.10 | 0.36 |
| USD	SHELL INTERNATIONAL FINANCE BV 2.87500% 16-10.05.26 | 1 150 000.00 | 1 259 514.66 | 0.65 |
| USD	STATE STREET CORP 2.40000% 20-24.01.30 | 460 000.00 | 494 344.04 | 0.25 |
| USD	TOTAL CAPITAL INTERNATIONAL SA 3.45500% 19-19.02.29 | 1 100 000.00 | 1 246 559.22 | 0.64 |
| USD	VISA INC 2.05000% 20-15.04.30 | 700 000.00 | 731 728.87 | 0.38 |
| USD	VISA INC 3.15000% 15-14.12.25 | 750 000.00 | 834 855.11 | 0.43 |
| USD	WALMART INC 3.05000% 19-08.07.26 | 1 090 000.00 | 1 219 257.75 | 0.63 |
| USD	WALMART INC 3.12500% 18-23.06.21 | 375 000.00 | 379 353.62 | 0.19 |
| USD	WALMART INC 3.70000% 18-26.06.28 | 1 000 000.00 | 1 164 663.34 | 0.60 |
| USD	WESTPAC BANKING CORP 2.85000% 16-13.05.26 | 1 440 000.00 | 1 584 691.20 | 0.81 |
| Total USD |  | 46 695 956.80 | 24.00 |
| Total des Billets, taux fixe |  | 46 695 956.80 | 24.00 |
| Billets, taux variable |  |  |  |
| USD |  |  |  |
| USD	CITIGROUP INC 3M LIBOR+143BP 16-01.09.23 | 600 000.00 | 610 796.95 | 0.31 |
| Total USD |  | 610 796.95 | 0.31 |
| Total des Billets, taux variable |  | 610 796.95 | 0.31 |
| Medium-Term Notes, taux fixe |  |  |  |
| USD |  |  |  |
| USD	ABU DHABI, EMIRATE OF-REG-S 3.12500% 20-16.04.30 | 900 000.00 | 1 003 500.00 | 0.52 |
| USD	ASB FINANCE LTD-REG-S 2.12500% 16-01.09.21 | 400 000.00 | 404 139.52 | 0.21 |
| USD	ASIAN DEVELOPMENT BANK 2.00000% 15-22.01.25 | 750 000.00 | 797 649.64 | 0.41 |
| USD	ASIAN DEVELOPMENT BANK 2.62500% 17-12.01.27 | 1 000 000.00 | 1 110 440.00 | 0.57 |
| USD	ASIAN DEVELOPMENT BANK 2.00000% 17-16.02.22 | 580 000.00 | 591 091.56 | 0.30 |
| USD	ASIAN DEVELOPMENT BANK 2.75000% 18-19.01.28 | 700 000.00 | 787 795.89 | 0.40 |
| USD	ASIAN DEVELOPMENT BANK 1.75000% 19-19.09.29 | 1 020 000.00 | 1 071 838.30 | 0.55 |
| USD	AUSTRALIA & NEW ZEALAND BANKING GRP/NY 2.30000% 16-01.06.21 | 1 300 000.00 | 1 308 177.00 | 0.67 |
| USD	BANK OF NEW YORK CO INC 0.75000% 21-28.01.26 | 600 000.00 | 599 471.51 | 0.31 |
| USD	CAISSE D’AMOR DE LA DETTE SOCIALE-REG-S 3.37500% 14-20.03.24 | 1 225 000.00 | 1 340 676.75 | 0.69 |
| USD	CPPIB CAPITAL INC-REG-S 2.75000% 17-02.11.27 | 850 000.00 | 951 745.00 | 0.49 |
| USD	IDB TRUST SERVICES LTD-REG-S 2.26100% 17-26.09.22 | 900 000.00 | 924 750.00 | 0.48 |
| USD	JAPAN TOBACCO INC-REG-S 2.80000% 16-13.04.26 | 400 000.00 | 431 360.00 | 0.22 |
| USD	MDGH - GMTN BV-REG-S 3.00000% 17-19.04.24 | 725 000.00 | 773 031.25 | 0.40 |
| USD	MDGH - GMTN BV-REG-S 2.87500% 20-21.05.30 | 800 000.00 | 853 250.00 | 0.44 |
| USD	NESTLE HOLDINGS INC-REG-S 2.37500% 17-18.01.22 | 1 050 000.00 | 1 070 794.20 | 0.55 |
| USD	NESTLE HOLDINGS INC-REG-S 3.12500% 18-22.03.23 | 400 000.00 | 423 458.08 | 0.22 |
| USD	NISSAN MOTOR ACCEPTANCE CORP-REG-S 2.60000% 17-28.09.22 | 100 000.00 | 102 622.12 | 0.05 |

UBS (Lux) Strategy Fund – Fixed Income (USD)
Rapport annuel et états financiers révisés au 31 janvier 2021
|  | 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 | SP POWERASSETS LTD-REG-S 3.25000% 15-24.11.25 | 1 000 000.00 | 1 109 230.00 | 0.57 |
| USD | SUMITOMO MITSUI BANKING CORP-REG-S 2.44000% 19-18.06.24 | 479 000.00 | 508 365.33 | 0.26 |
| USD | SVENSK EXPORTKREDIT AB 1.75000% 16-10.03.21 | 550 000.00 | 550 946.00 | 0.28 |
| USD | TORONTO-DOMINION BANK 0.75000% 20-11.09.25 | 600 000.00 | 599 071.98 | 0.31 |
| USD | TOYOTA MOTOR CREDIT CORP 2.60000% 17-11.01.22 | 575 000.00 | 587 214.76 | 0.30 |
| Total USD |  |  | 17 900 618.89 | 9.20 |
| Total des Medium-Term Notes, taux fixe |  | 17 900 618.89 | 9.20 |
| Obligations, taux fixe |  |  |  |
| USD |  |  |  |
| USD	BNG BANK NV-REG-S 2.62500% 14-28.04.21 | 1 100 000.00 | 1 106 560.40 | 0.57 |
| USD	BNG BANK NV-REG-S 2.37500% 16-16.03.26 | 220 000.00 | 239 338.00 | 0.12 |
| USD	BRITISH COLUMBIA, PROVINCE OF 2.25000% 16-02.06.26 | 700 000.00 | 757 881.68 | 0.39 |
| USD	EUROPEAN INVESTMENT BANK 3.25000% 14-29.01.24 | 620 000.00 | 674 914.71 | 0.35 |
| USD	EUROPEAN INVESTMENT BANK 1.87500% 15-10.02.25 | 570 000.00 | 603 551.29 | 0.31 |
| USD	EUROPEAN INVESTMENT BANK 2.12500% 16-13.04.26 | 400 000.00 | 431 600.76 | 0.22 |
| USD	EUROPEAN INVESTMENT BANK 0.62500% 20-21.10.27 | 850 000.00 | 839 964.97 | 0.43 |
| USD	ING BANK NV-REG-S 2.62500% 12-05.12.22 | 1 200 000.00 | 1 251 458.40 | 0.64 |
| USD	INTER-AMERICAN DEVELOPMENT BANK 3.00000% 14-21.02.24 | 1 150 000.00 | 1 244 903.32 | 0.64 |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 7.62500% 93-19.01.23 | 325 000.00 | 372 133.13 | 0.19 |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 0.87500% 20-14.05.30 | 500 000.00 | 486 491.87 | 0.25 |
| USD	KOREA, REPUBLIC OF 3.87500% 13-11.09.23 | 900 000.00 | 980 718.75 | 0.50 |
| USD	KREDITANSTALT FUER WIEDERAUFBAU 2.50000% 14-20.11.24 | 650 000.00 | 702 926.95 | 0.36 |
| USD	KREDITANSTALT FUER WIEDERAUFBAU 0.75000% 20-30.09.30 | 1 050 000.00 | 1 009 308.44 | 0.52 |
| USD	MICROSOFT CORP 2.40000% 16-08.08.26 | 950 000.00 | 1 029 845.44 | 0.53 |
| USD	NOVARTIS CAPITAL CORP 3.40000% 14-06.05.24 | 900 000.00 | 986 748.86 | 0.51 |
| USD	OESTERREICHISCHE KONTROLLBANK AG 2.37500% 14-01.10.21 | 350 000.00 | 355 035.26 | 0.18 |
| USD	ONTARIO, PROVINCE OF 1.12500% 20-07.10.30 | 1 350 000.00 | 1 315 975.61 | 0.68 |
| USD	ONTARIO, PROVINCE OF 3.20000% 14-16.05.24 | 800 000.00 | 873 586.15 | 0.45 |
| Total USD |  | 15 262 943.99 | 7.84 |
| Total des Obligations, taux fixe |  | 15 262 943.99 | 7.84 |
| Bons du Trésor à moyen terme, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 5.37500% 01-15.02.31 | 5 000.00 | 7 076.76 | 0.01 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.08.27 | 5 000.00 | 5 502.93 | 0.01 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.11.27 | 5 000.00 | 5 504.69 | 0.00 |
| USD	AMERICA, UNITED STATES OF 2.62500% 19-15.02.29 | 5 000.00 | 5 675.20 | 0.01 |
| USD	AMERICA, UNITED STATES OF 1.50000% 15-31.01.22 | 55 000.00 | 55 769.14 | 0.03 |
| USD	AMERICA, UNITED STATES OF 1.12500% 16-31.07.21 | 5 000.00 | 5 025.78 | 0.00 |
| USD	AMERICA, UNITED STATES OF 1.75000% 12-15.05.22 | 5 000.00 | 5 105.86 | 0.00 |
| USD	AMERICA, UNITED STATES OF 1.37500% 16-30.09.23 | 5 000.00 | 5 162.50 | 0.00 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.02.27 | 200 000.00 | 219 554.69 | 0.11 |
| USD	AMERICA, UNITED STATES OF 2.50000% 13-15.08.23 | 55 000.00 | 58 282.81 | 0.03 |
| USD	AMERICA, UNITED STATES OF 2.37500% 17-15.05.27 | 10 000.00 | 11 074.21 | 0.01 |
| USD	AMERICA, UNITED STATES OF 2.12500% 15-15.05.25 | 5 000.00 | 5 381.06 | 0.00 |
| USD	AMERICA, UNITED STATES OF 1.75000% 19-15.11.29 | 5 000.00 | 5 334.37 | 0.00 |
| USD	AMERICA, UNITED STATES OF 1.50000% 19-30.11.24 | 5 000.00 | 5 231.84 | 0.00 |
| USD	AMERICA, UNITED STATES OF 0.62500% 20-15.05.30 | 975 000.00 | 939 503.90 | 0.48 |
| Total USD |  | 1 339 185.74 | 0.69 |
| Total des Bons du Trésor à moyen terme, taux fixe |  | 1 339 185.74 | 0.69 |
| Bons du Trésor à moyen terme, taux variable |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 12-15.07.22 | 725 000.00 | 849 836.91 | 0.44 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 20-15.01.30 | 860 000.00 | 973 888.86 | 0.50 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI INDEX 13-15.07.23 | 755 000.00 | 899 330.62 | 0.46 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 15-15.07.25 | 740 000.00 | 899 195.74 | 0.46 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 17-15.01.27 | 710 000.00 | 860 545.14 | 0.44 |
| USD	AMERICA, UNITED STATES OF 0.625%/CPI LINKED 16-15.01.26 | 700 000.00 | 862 122.73 | 0.44 |
| USD	AMERICA, UNITED STATES OF 0.750%/CPI LINKED 18-15.07.28 | 710 000.00 | 862 844.73 | 0.45 |
| USD	AMERICA, UNITED STATES OF 2.375%/CPI LINKED 04-15.01.25 | 655 000.00 | 1 064 012.90 | 0.55 |
| USD	AMERICA, UNITED STATES OF 3.875%/CPI LINKED 99-15.04.29 | 375 000.00 | 858 792.15 | 0.44 |
| Total USD |  | 8 130 569.78 | 4.18 |
| Total des Bons du Trésor à moyen terme, taux variable |  | 8 130 569.78 | 4.18 |
| Total des Titres et instruments du marché monétaire négociés sur une bourse officielle |  | 89 940 072.15 | 46.22 |
| Titres et instruments du marché monétaire négociés sur un autre marché réglementé Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	SCENTRE GROUP TRUST 1 / 2-REG-S 3.75000% 17-23.03.27 | 300 000.00 | 330 163.61 | 0.17 |
| Total USD |  | 330 163.61 | 0.17 |
| Total des Billets, taux fixe |  | 330 163.61 | 0.17 |
| Medium-Term Notes, taux fixe |  |  |  |
| USD |  |  |  |
| USD	GUARDIAN LIFE GLOBAL FUNDING-REG-S 2.00000% 16-26.04.21 | 450 000.00 | 451 906.98 | 0.23 |
| Total USD |  | 451 906.98 | 0.23 |
| Total des Medium-Term Notes, taux fixe |  | 451 906.98 | 0.23 |

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

Medium-Term Notes, coupon zéro
USD
| USD | INTL BK FOR RECONSTR & DEVT WORLD BANK 0.00000% 00-01.05.30 | 420 000.00 | 361 645.37 | 0.19 |
| --- | --- | --- | --- | --- |
| Total USD | 361 645.37 | 0.19 |
| Total des Medium-Term Notes, coupon zéro |  | 361 645.37 | 0.19 |
| Medium-Term Notes, taux variable |  |  |  |
| USD |  |  |  |
| USD	GOLDMAN SACHS GROUP 3M LIBOR+160BP 13-29.11.23 | 475 000.00 | 492 074.66 | 0.25 |
| Total USD |  | 492 074.66 | 0.25 |
| Total des Medium-Term Notes, taux variable |  | 492 074.66 | 0.25 |
| Total des Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  | 1 635 790.62 | 0.84 |

OPCVM/Autres OPC au sens de l’article 41 (1) e) de la loi luxembourgeoise du 17 décembre 2010, telle que modifiée
Fonds d’investissement, ouvert
Luxembourg
| EUR | UBS (LUX) BOND FUND - EURO HIGH YIELD (EUR) I-X-ACC | 23 818.00 | 4 017 831.39 | 2.06 |
| --- | --- | --- | --- | --- |
| USD | UBS (LUX) BOND SICAV - SHORT TERM USD CORPORATES (USD) U-X-A | 1 788.00 | 20 388 778.56 | 10.48 |
| USD | UBS (LUX) BOND SICAV - USD CORPORATES U-X-ACC | 528.00 | 6 917 560.32 | 3.56 |
| USD | UBS (LUX) BOND SICAV - USD HIGH YIELD U-X-ACC | 284.80 | 6 051 394.69 | 3.11 |
| USD | UBS (LUX) BOND SICAV - EMERGING ECONOMIES CORP (USD)-I-X-DIS | 73 337.00 | 8 199 076.60 | 4.21 |
| USD | UBS (LUX) BOND SICAV - USD INVEST GRADE CORP USD U X ACC | 2 852.00 | 35 086 787.04 | 18.03 |
| USD | UBS (LUX) EMERGING ECONOMIES FUND-GLOBAL BONDS (USD)-U-X ACC | 912.00 | 13 281 839.04 | 6.83 |
| USD | UBS (LUX) MONEY MARKET FUND - USD U-X-ACC | 631.00 | 7 079 681.18 | 3.64 |
| Total Luxembourg | 101 022 948.82 | 51.92 |
| Total des Fonds d’investissement, ouvert | 101 022 948.82 | 51.92 |
| Total des OPCVM/Autres OPC au sens de l’article 41 (1) e) de la loi luxembourgeoise du 17 décembre 2010, telle que modifiée | 101 022 948.82 | 51.92 |
| Total du Portefeuille-titres | 192 598 811.59 | 98.98 |

| Instruments dérivés |  |
| --- | --- |
| Instruments dérivés négociés sur une bourse officielle |
| Contrats financiers à terme sur obligations |
|  |  |  |  |
| EUR	EURO BTP ITALY GOVERMENT FUTURE 08.03.21 | 24.00 | -4 665.22 | 0.00 |
| USD	US LONG BOND FUTURE 22.03.21 | 24.00 | -138 750.00 | -0.07 |
| Total des Contrats financiers à terme sur obligations |  | -143 415.22 | -0.07 |
| Total des Instruments dérivés négociés sur une bourse officielle |  | -143 415.22 | -0.07 |
| Total des Instruments dérivés |  | -143 415.22 | -0.07 |
| Contrats de change à terme |  |  |  |
| Devise achetée/Montant acheté/Devise vendue/Montant vendu/Date de maturité |  |  |  |

| USD | 703 523.52 | AUD | 960 000.00 | 4.2.2021 | -33 050.88 | -0.02 |
| --- | --- | --- | --- | --- | --- | --- |
| SGD | 950 000.00 | USD | 706 999.37 | 4.2.2021 | 8 839.12 | 0.00 |
| USD | 2 188 657.77 | EUR | 1 840 801.51 | 4.2.2021 | -47 897.64 | -0.02 |
| CAD | 550 000.00 | JPY | 44 809 380.00 | 4.2.2021 | 2 537.02 | 0.00 |
| NOK | 5 720 000.00 | USD | 647 983.89 | 4.2.2021 | 20 791.99 | 0.01 |
| AUD | 870 000.00 | JPY | 68 215 253.00 | 4.2.2021 | 15 939.72 | 0.01 |
| USD | 1 108 334.77 | JPY | 113 856 017.00 | 19.3.2021 | 20 328.64 | 0.01 |
| CAD | 560 000.00 | USD | 442 743.75 | 19.3.2021 | -4 323.92 | 0.00 |
| USD | 2 386 535.94 | EUR | 1 930 196.87 | 19.3.2021 | 39 188.10 | 0.02 |
| USD | 3 602.17 | GBP | 2 635.55 | 19.3.2021 | -17.83 | 0.00 |
| NOK | 5 730 000.00 | USD | 681 736.66 | 19.3.2021 | -11 861.82 | 0.00 |
| SGD | 940 000.00 | USD | 714 270.52 | 19.3.2021 | -5 977.49 | 0.00 |
| USD | 70 366.59 | AUD | 90 000.00 | 19.3.2021 | 1 295.76 | 0.00 |
| USD | 48 407.56 | EUR | 40 000.00 | 4.2.2021 | -192.04 | 0.00 |
| USD | 48 453.04 | EUR | 40 000.00 | 19.3.2021 | -191.69 | 0.00 |
| USD | 46 784.21 | NOK | 400 000.00 | 4.2.2021 | 16.67 | 0.00 |
| USD | 46 769.05 | NOK | 400 000.00 | 19.3.2021 | 6.41 | 0.00 |
| INR | 106 300 000.00 | USD | 1 441 629.60 | 26.3.2021 | 6 421.70 | 0.00 |
| IDR | 19 500 560 000.00 | USD | 1 377 352.73 | 26.3.2021 | 6 789.47 | 0.00 |
| USD | 1 430 680.59 | TWD | 39 730 000.00 | 26.3.2021 | 3 222.97 | 0.00 |
| RUB | 63 660 000.00 | USD | 857 333.32 | 26.3.2021 | -18 618.46 | -0.01 |
| USD | 103 002.23 | GBP | 75 000.00 | 4.2.2021 | 10.73 | 0.00 |
| USD | 103 025.03 | GBP | 75 000.00 | 19.3.2021 | 10.58 | 0.00 |
| EUR | 150 000.00 | USD | 181 993.80 | 4.2.2021 | 254.70 | 0.00 |
| EUR | 150 000.00 | USD | 182 166.45 | 19.3.2021 | 251.30 | 0.00 |
| Total des Contrats de change à terme | 3 773.11 | 0.00 |
|  |  |  |
| Avoirs en banque, dépôts à vue et à terme et autres liquidités | 819 938.57 | 0.42 |
| Crédit en compte courant et autres engagements à court terme | -1.11 | 0.00 |
| Autres actifs et passifs | 1 311 937.95 | 0.67 |
| Total de l’Actif net | 194 591 044.89 | 100.00 |

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