# UBS (Lux) Bond SICAV – Global Inflation-linked (USD)
| Three-year comparison |  |
| --- | --- |
|  | ISIN | 31.5.2022 | 31.5.2021 | 31.5.2020 |
| Net assets in USD |  | 273 705 086.49 | 318 001 979.77 | 157 652 769.82 |
| Class (CHF hedged) I-A1-acc | LU0455555184 |  |  |  |
| Shares outstanding |  | 13 485.9070 | 69 067.9070 | 66 424.0000 |
| Net asset value per share in CHF |  | 108.95 | 111.87 | 105.09 |
| Issue and redemption price per share in CHF 1 |  | 108.95 | 111.87 | 105.09 |
| Class (CHF hedged) I-A1-dist | LU0455555267 |  |  |  |
| Shares outstanding |  | 114 891.6890 | 119 956.6890 | 121 607.0000 |
| Net asset value per share in CHF |  | 100.03 | 103.87 | 98.99 |
| Issue and redemption price per share in CHF 1 |  | 100.03 | 103.87 | 98.99 |
| Class I-A3-acc | LU0455552678 |  |  |  |
| Shares outstanding |  | 1 362.0000 | 1 362.0000 | 4 120.0000 |
| Net asset value per share in USD |  | 127.81 | 129.61 | 120.09 |
| Issue and redemption price per share in USD 1 |  | 127.81 | 129.61 | 120.09 |
| Class (CHF hedged) I-A3-acc | LU0455555697 |  |  |  |
| Shares outstanding |  | 3 000.0000 | 5 000.0000 | 5 000.0000 |
| Net asset value per share in CHF |  | 108.74 | 111.54 | 104.67 |
| Issue and redemption price per share in CHF 1 |  | 108.74 | 111.54 | 104.67 |
| Class (EUR hedged) I-A3-acc | LU0455558790 |  |  |  |
| Shares outstanding |  | 18 978.7480 | 86 861.6490 | 7 925.0000 |
| Net asset value per share in EUR |  | 113.06 | 115.58 | 108.19 |
| Issue and redemption price per share in EUR 1 |  | 113.06 | 115.58 | 108.19 |
| Class (CHF hedged) I-B-acc | LU0455555853 |  |  |  |
| Shares outstanding |  | 78 309.1540 | 49 601.3610 | 41 324.2830 |
| Net asset value per share in CHF |  | 115.27 | 117.79 | 110.11 |
| Issue and redemption price per share in CHF 1 |  | 115.27 | 117.79 | 110.11 |
| Class I-X-acc 2 | LU2418147265 |  |  |  |
| Shares outstanding |  | - | - | - |
| Net asset value per share in USD |  | - | - | - |
| Issue and redemption price per share in USD 1 |  | - | - | - |
| Class (EUR hedged) I-X-acc 3 | LU2069292600 |  |  |  |
| Shares outstanding |  | - | 110 291.0040 | 102 542.0040 |
| Net asset value per share in EUR |  | - | 108.26 | 100.88 |
| Issue and redemption price per share in EUR 1 |  | - | 108.26 | 100.88 |
| Class (EUR hedged) K-1-acc 4 | LU0455557396 |  |  |  |
| Shares outstanding |  | - | - | 0.7000 |
| Net asset value per share in EUR |  | - | - | 3 714 533.94 |
| Issue and redemption price per share in EUR 1 |  | - | - | 3 714 533.94 |
| Class P-acc | LU0455550201 |  |  |  |
| Shares outstanding |  | 254 278.3750 | 341 095.0690 | 136 644.3630 |
| Net asset value per share in USD |  | 141.50 | 144.24 | 134.36 |
| Issue and redemption price per share in USD 1 |  | 141.50 | 144.24 | 134.36 |
| Class (CHF hedged) P-acc | LU0455553486 |  |  |  |
| Shares outstanding |  | 190 037.3320 | 196 664.7550 | 203 584.3940 |
| Net asset value per share in CHF |  | 117.74 | 121.43 | 114.57 |
| Issue and redemption price per share in CHF 1 |  | 117.74 | 121.43 | 114.57 |
| Class (EUR hedged) P-acc | LU0455556406 |  |  |  |
| Shares outstanding |  | 883 104.2110 | 687 927.6750 | 280 233.9340 |
| Net asset value per share in EUR |  | 124.80 | 128.29 | 120.75 |
| Issue and redemption price per share in EUR 1 |  | 124.80 | 128.29 | 120.75 |
| Class Q-acc | LU1240775160 |  |  |  |
| Shares outstanding |  | 114 564.1230 | 68 812.5630 | 23 911.9500 |
| Net asset value per share in USD |  | 126.20 | 128.14 | 118.87 |
| Issue and redemption price per share in USD 1 |  | 126.20 | 128.14 | 118.87 |
| Class (CHF hedged) Q-acc | LU1240774940 |  |  |  |
| Shares outstanding |  | 42 997.7070 | 32 073.6280 | 19 946.0070 |
| Net asset value per share in CHF |  | 108.77 | 111.73 | 105.00 |
| Issue and redemption price per share in CHF 1 |  | 108.77 | 111.73 | 105.00 |
| Class (EUR hedged) Q-acc | LU1240775087 |  |  |  |
| Shares outstanding | 427 429.8880 | 463 677.1210 | 263 145.7200 |
| Net asset value per share in EUR | 111.87 | 114.53 | 107.37 |
| Issue and redemption price per share in EUR 1 | 111.87 | 114.53 | 107.37 |
| 1  See note 1 2  For the period from 9.2.2022 to 21.4.2022 the share class I-X-acc was in circulation 3  The share class (EUR hedged) I-X-acc was in circulation until 2.11.2021 4  The share class (EUR hedged) K-1-acc was in circulation until 30.7.2020 |  |  |  |

UBS (Lux) Bond SICAV – Global Inflation-linked (USD)
Annual report and audited financial statements as of 31 May 2022
| Performance |  |
| --- | --- |
|  | Currency | 2021/2022 | 2020/2021 | 2019/2020 |
| Class (CHF hedged) I-A1-acc | CHF | -2.6% | 6.5% | 2.9% |
| Class (CHF hedged) I-A1-dist | CHF | -2.6% | 6.5% | 2.9% |
| Class I-A3-acc | USD | -1.4% | 7.9% | 6.3% |
| Class (CHF hedged) I-A3-acc | CHF | -2.5% | 6.6% | 3.0% |
| Class (EUR hedged) I-A3-acc | EUR | -2.2% | 6.8% | 3.4% |
| Class (CHF hedged) I-B-acc | CHF | -2.1% | 7.0% | 3.4% |
| Class I-X-acc 1 | USD | - | - | - |
| Class (EUR hedged) I-X-acc 2 | EUR | - | 7.3% | - |
| Class (EUR hedged) K-1-acc 3 | EUR | - | - | 3.3% |
| Class P-acc | USD | -1.9% | 7.4% | 5.8% |
| Class (CHF hedged) P-acc | CHF | -3.0% | 6.0% | 2.5% |
| Class (EUR hedged) P-acc | EUR | -2.7% | 6.2% | 2.9% |
| Class Q-acc | USD | -1.5% | 7.8% | 6.2% |
| Class (CHF hedged) Q-acc | CHF | -2.6% | 6.4% | 2.9% |
| Class (EUR hedged) Q-acc | EUR | -2.3% | 6.7% | 3.3% |
| Benchmark: 4 Bloomberg Barclays Global inflation linked 1-10 years (hedged CHF) | CHF | 1.2% | 4.8% | 1.1% |
| Bloomberg Barclays Global inflation linked 1-10 years | USD | 2.5% | 6.1% | 4.0% |
| Bloomberg Barclays Global inflation linked 1-10 years (hedged EUR) | EUR | 1.5% | 5.1% | 1.5% |

1 
For the period from 9.2.2022 to 21.4.2022 the share class I-X-acc was in circulation. Due to this fact, there is no data for the calculation of the performance available.
2 
The share class (EUR hedged) I-X-acc was in circulation until 2.11.2021. Due to this fact, there is no data for the calculation of the performance available in 2022.
3 
The share class (EUR hedged) K-1-acc was in circulation until 30.7.2020. Due to the recent launch, there is no data for the calculation of the performance available.
4 
The subfund is actively managed. The index is a point of reference against which the performance of the subfund may be measured.
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.
UBS (Lux) Bond SICAV – Global Inflation-linked (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 posted negative performance both in abso- lute terms and versus the Bloomberg Barclays Global inflation linked 1-10 years (hedged USD) index over the financial year. Within duration management, markets where we were overweight duration, such as Mexico and Hungary, detracted from performance, while mar- kets where we were underweight contributed, such as UK and Poland. Our off-benchmark exposure to credit sectors was a detractor as spreads widened and overall underperformed government bond inflation linked mar- kets. We expect most central banks to remain hawkish as inflation remains elevated. Therefore, yields are likely to gravitate higher – with undesirable consequences for long duration and risk assets. We maintain our over- weight duration positioning in New Zealand versus under- weight in the UK and US. We maintain intra-eurozone positioning of underweight Germany versus Spain and tactically owning Italy versus Germany. Economic fun- damentals still remain supportive for investment grade bonds but monetary tightening and less liquidity support should lead to moderately wider credit spreads over the course of the year. We therefore see opportunities to add allocation to corporate and SSA sectors later in the year at more attractive valuations though this is unlikely to add significant excess return in 2022. In addition to hold- ings in agencies, supranationals and investment grade corporates, we see selective opportunities in highly rated emerging market sovereign and corporate bonds.
UBS (Lux) Bond SICAV – Global Inflation-linked (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 | 43.56 |
| --- | --- |
| New Zealand | 7.37 |
| Italy | 6.83 |
| France | 6.42 |
| United Kingdom | 5.47 |
| Spain | 4.21 |
| Japan | 3.99 |
| Luxembourg | 2.64 |
| Mexico | 1.97 |
| Germany | 1.74 |
| Switzerland | 1.57 |
| Brazil | 1.40 |
| The Netherlands | 1.34 |
| Sweden | 1.22 |
| Australia | 1.11 |
| Denmark | 0.66 |
| India | 0.54 |
| Ireland | 0.34 |
| Cayman Islands | 0.29 |
| Romania | 0.26 |
| Thailand | 0.24 |
| Turkey | 0.23 |
| Mongolia | 0.23 |
| Peru | 0.21 |
| Indonesia | 0.18 |
| Colombia | 0.18 |
| Costa Rica | 0.17 |
| China | 0.15 |
| Bulgaria | 0.13 |
| Argentina | 0.12 |
| Bermuda | 0.12 |
| Egypt | 0.12 |
| Venezuela | 0.12 |
| Ukraine | 0.11 |
| Finland | 0.10 |
| Kazakhstan | 0.10 |
| Uruguay | 0.09 |
| Jersey | 0.09 |
| Czech Republic | 0.08 |
| Canada | 0.08 |
| Malaysia | 0.08 |
| Saudi Arabia | 0.07 |
| Russian Federation (CIS) | 0.07 |
| Chile | 0.06 |
| Ecuador | 0.05 |
| Total | 96.11 |

Economic Breakdown as a % of net assets	
Countries & central governments	76.99
| Finance & holding companies | 4.50 |
| --- | --- |
| Banks & credit institutions | 3.84 |
| Traffic & transportation | 1.67 |
| Investment funds | 1.66 |
| Telecommunications | 1.26 |
| Mortgage & funding institutions | 1.12 |
| Energy & water supply | 1.08 |
| Petroleum | 0.76 |
| Insurance | 0.71 |
| Real Estate | 0.35 |
| Internet, software & IT services | 0.31 |
| Chemicals | 0.26 |
| Miscellaneous unclassified companies | 0.25 |
| Miscellaneous services | 0.24 |
| Electrical devices & components | 0.17 |
| Tobacco & alcohol | 0.15 |
| Computer hardware & network equipment providers | 0.14 |
| Retail trade, department stores | 0.13 |
| Supranational organisations | 0.12 |
| Healthcare & social services | 0.11 |
| Mechanical engineering & industrial equipment | 0.10 |
| Vehicles | 0.09 |
| Pharmaceuticals, cosmetics & medical products | 0.07 |
| Packaging industry | 0.03 |
| Total | 96.11 |


## Statement of Net Assets
Assets	31.5.2022
USD
Investments in securities, cost	281 108 191.51
Investments in securities, unrealized appreciation (depreciation)	18 043 570.66
Total investments in securities (Note 1)	263 064 620.85
Cash at banks, deposits on demand and deposit accounts	5 566 463.11*
Receivable on securities sales (Note 1)	2 681 966.39
Receivable on subscriptions	289 284.29
Interest receivable on securities	1 415 501.18
Interest receivable on liquid assets	109.84
Prepaid expenses	66 391.55
Unrealized gain on forward foreign exchange contracts (Note 1)	2 325 929.58
Unrealized gain on swaps (Note 1)	5 332 604.94
Unrealized loss on financial futures (Note 1)	-227 662.48
Bank overdraft	-2 426 694.35
Other short-term liabilities (Margins)	-1 330 889.43
Payable on securities purchases (Note 1)	-28 403.44
Payable on redemptions	-2 785 496.71
Provisions for flat fee (Note 2)	-187 731.78
Provisions for taxe d’abonnement (Note 3)	-20 856.08
Provisions for other commissions and fees (Note 2)		-30 050.97		 Total provisions			-238 638.83
Net assets at the end of the financial year	273 705 086.49

## Statement of Operations
Income	1.6.2021-31.5.2022
USD
Interest on liquid assets	30 087.32
Interest on securities	4 476 054.53
Dividends	302 069.96
Interest received on swaps (Note 1)	2 060 111.93
Net income on securities lending (Note 17)	79 575.00
Total income	7 183 051.16
Expenses
Other income (Note 4)	235 152.42
Interest paid on swaps (Note 1)	-2 156 724.29
Flat fee (Note 2)	-2 425 170.65
Taxe d’abonnement (Note 3)	-139 896.94
Other commissions and fees (Note 2)	-72 232.92
Net income (loss) on investments	2 326 943.05
Total expenses	-4 856 108.11
Interest on cash and bank overdraft	-62 083.31
Realized gain (loss) (Note 1)
Realized gain (loss) on market-priced securities without options	3 272 993.68
Realized gain (loss) on options	29 480.16
Realized gain (loss) on financial futures	2 234 407.36
Realized gain (loss) on forward foreign exchange contracts	-12 715 128.82
Realized gain (loss) on swaps	-1 123 131.67
Net realized gain (loss) of the financial year	-6 780 078.75
Total realized gain (loss)	-9 107 021.80
Realized gain (loss) on foreign exchange	-805 642.51
Changes in unrealized appreciation (depreciation) (Note 1)
Unrealized appreciation (depreciation) on market-priced securities without options	-36 365 011.85 Unrealized appreciation (depreciation) on yield-evaluated securities and money market instruments		181.68
Unrealized appreciation (depreciation) on financial futures	-325 990.77
Unrealized appreciation (depreciation) on forward foreign exchange contracts	602 076.96
Total changes in unrealized appreciation (depreciation)	-30 779 241.91
Unrealized appreciation (depreciation) on swaps	5 309 502.07
Net increase (decrease) in net assets as a result of operations	-37 559 320.66
* As at 31 May 2022, cash amounts serve as collateral for the counterparty Citibank for an amount of USD 260 000.00 and Morgan Stanley London for an amount of USD 260 000.00.
UBS (Lux) Bond SICAV – Global Inflation-linked (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 | 318 001 979.77 |
| Subscriptions | 209 799 367.28 |
| Redemptions | 	-216 381 711.98	 |
| Total net subscriptions (redemptions) | -6 582 344.70 |
| Dividend paid | -155 227.92 |
| Net income (loss) on investments | 2 326 943.05 |
| Total realized gain (loss) | -9 107 021.80 |
| Total changes in unrealized appreciation (depreciation) | 	-30 779 241.91	 |
| Net increase (decrease) in net assets as a result of operations | -37 559 320.66 |
| Net assets at the end of the financial year | 273 705 086.49 |
| Changes in the Number of Shares outstanding |  |
|  | 1.6.2021-31.5.2022 |
| Class | (CHF hedged) I-A1-acc |
| Number of shares outstanding at the beginning of the financial year | 69 067.9070 |
| Number of shares issued | 9 030.8270 |
| Number of shares redeemed | -64 612.8270 |
| Number of shares outstanding at the end of the financial year | 13 485.9070 |
| Class | (CHF hedged) I-A1-dist |
| Number of shares outstanding at the beginning of the financial year | 119 956.6890 |
| Number of shares issued | 9 985.0000 |
| Number of shares redeemed | -15 050.0000 |
| Number of shares outstanding at the end of the financial year | 114 891.6890 |
| Class | I-A3-acc |
| Number of shares outstanding at the beginning of the financial year | 1 362.0000 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the financial year | 1 362.0000 |
| Class | (CHF hedged) I-A3-acc |
| Number of shares outstanding at the beginning of the financial year | 5 000.0000 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -2 000.0000 |
| Number of shares outstanding at the end of the financial year | 3 000.0000 |
| Class | (EUR hedged) I-A3-acc |
| Number of shares outstanding at the beginning of the financial year | 86 861.6490 |
| Number of shares issued | 44 809.7980 |
| Number of shares redeemed | -112 692.6990 |
| Number of shares outstanding at the end of the financial year | 18 978.7480 |
| Class | (CHF hedged) I-B-acc |
| Number of shares outstanding at the beginning of the financial year | 49 601.3610 |
| Number of shares issued | 35 484.4420 |
| Number of shares redeemed | -6 776.6490 |
| Number of shares outstanding at the end of the financial year | 78 309.1540 |
| Class | I-X-acc |
| Number of shares outstanding at the beginning of the financial year | 0.0000 |
| Number of shares issued | 100.0000 |
| Number of shares redeemed | -100.0000 |
| Number of shares outstanding at the end of the financial year | 0.0000 |
| Class | (EUR hedged) I-X-acc |
| Number of shares outstanding at the beginning of the financial year | 110 291.0040 |
| Number of shares issued | 9 003.0000 |
| Number of shares redeemed | -119 294.0040 |
| Number of shares outstanding at the end of the financial year | 0.0000 |
| Class | P-acc |
| Number of shares outstanding at the beginning of the financial year | 341 095.0690 |
| Number of shares issued | 236 588.9620 |
| Number of shares redeemed | -323 405.6560 |
| Number of shares outstanding at the end of the financial year | 254 278.3750 |
| Class | (CHF hedged) P-acc |
| Number of shares outstanding at the beginning of the financial year | 196 664.7550 |
| Number of shares issued | 26 087.4590 |
| Number of shares redeemed | -32 714.8820 |
| Number of shares outstanding at the end of the financial year | 190 037.3320 |
| Class | (EUR hedged) P-acc |
| Number of shares outstanding at the beginning of the financial year | 687 927.6750 |
| Number of shares issued | 737 602.5840 |
| Number of shares redeemed | -542 426.0480 |
| Number of shares outstanding at the end of the financial year | 883 104.2110 |

UBS (Lux) Bond SICAV – Global Inflation-linked (USD)
Annual report and audited financial statements as of 31 May 2022
| Class | Q-acc |
| --- | --- |
| Number of shares outstanding at the beginning of the financial year | 68 812.5630 |
| Number of shares issued | 78 306.5290 |
| Number of shares redeemed | -32 554.9690 |
| Number of shares outstanding at the end of the financial year | 114 564.1230 |
| Class | (CHF hedged) Q-acc |
| Number of shares outstanding at the beginning of the financial year | 32 073.6280 |
| Number of shares issued | 15 024.1550 |
| Number of shares redeemed | -4 100.0760 |
| Number of shares outstanding at the end of the financial year | 42 997.7070 |
| Class | (EUR hedged) Q-acc |
| Number of shares outstanding at the beginning of the financial year | 463 677.1210 |
| Number of shares issued | 271 992.3300 |
| Number of shares redeemed | -308 239.5630 |
| Number of shares outstanding at the end of the financial year | 427 429.8880 |

| Annual Distribution 1 |  |
| --- | --- |
| UBS (Lux) Bond SICAV – Global Inflation-linked (USD) | Ex-Date | Pay-Date | Currency | Amount per share |
| (CHF hedged) I-A1-dist 1  See note 5 | 2.8.2021 | 5.8.2021 | CHF | 1.17 |

UBS (Lux) Bond SICAV – Global Inflation-linked (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 | 9 300.00 | 1 804 053.32 | 0.66 |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF 10.00000% 20-01.01.31 | 8 500.00 | 1 566 748.99 | 0.57 |
| Total BRL |  | 3 370 802.31 | 1.23 |
| EUR |  |  |  |
| EUR	ALTICE FRANCE HOLDING SA-REG-S 8.00000% 19-15.05.27 | 650 000.00 | 652 792.96 | 0.24 |
| EUR	ALTICE FRANCE-REG-S 5.87500% 18-01.02.27 | 200 000.00 | 204 345.22 | 0.08 |
| EUR	ARDAGH PACKAGING FINANCE/MP-REG-S 2.12500% 19-15.08.26 | 100 000.00 | 93 904.08 | 0.03 |
| EUR	BULGARIAN ENERGY HOLDING EAD-REG-S 2.45000% 21-22.07.28 | 410 000.00 | 363 448.35 | 0.13 |
| EUR	CHINA, PEOPLE’S REPUBLIC OF-REG-S 1.00000% 19-12.11.39 | 490 000.00 | 419 930.00 | 0.15 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 2.87500% 21-11.02.25 | 500 000.00 | 518 886.73 | 0.19 |
| EUR	DKT FINANCE APS-REG-S 7.00000% 18-17.06.23 | 800 000.00 | 848 430.00 | 0.31 |
| EUR	GOLDMAN SACHS GROUP INC-REG-S 3.37500% 20-27.03.25 | 600 000.00 | 666 628.16 | 0.24 |
| EUR	GTC AURORA LUXEMBOURG SA-REG-S 2.25000% 21-23.06.26 | 280 000.00 | 245 239.12 | 0.09 |
| EUR	JAGUAR LAND ROVER AUTOMOTIVE PLC-REG-S 4.50000% 21-15.07.28 | 295 000.00 | 256 757.65 | 0.09 |
| EUR	LOXAM SAS-REG-S 3.75000% 19-15.07.26 | 100 000.00 | 100 426.69 | 0.04 |
| EUR	MACIF-REG-S-SUB 0.62500% 21-21.06.27 | 200 000.00 | 188 950.07 | 0.07 |
| EUR	SOFTBANK GROUP CORP-REG-S 5.00000% 18-15.04.28 | 100 000.00 | 96 842.74 | 0.04 |
| EUR	TELE COLUMBUS AG-REG-S 3.87500% 18-02.05.25 | 300 000.00 | 284 819.88 | 0.10 |
| EUR	TRITAX EUROBOX PLC-REG-S 0.95000% 21-02.06.26 | 160 000.00 | 156 682.91 | 0.06 |
| EUR	UKRAINE, GOVERNMENT OF-REG-S 4.37500% 20-27.01.30 | 400 000.00 | 153 188.75 | 0.06 |
| Total EUR |  | 5 251 273.31 | 1.92 |
| GBP |  |  |  |
| GBP	CPUK FINANCE LTD-REG-S 4.50000% 21-28.08.27 | 110 000.00 | 128 014.82 | 0.05 |
| Total GBP |  | 128 014.82 | 0.05 |
| USD |  |  |  |
| USD	AERCAP IRELAND CAPITAL DAC / AERCAP GLO 3.00000% 21-29.10.28 | 625 000.00 | 548 392.79 | 0.20 |
| USD	APT PIPELINES LTD-REG-S 4.20000% 15-23.03.25 | 100 000.00 | 100 453.65 | 0.04 |
| USD	ARGENTINA, REPUBLIC OF STEP-UP 20-09.07.35 | 291 000.00 | 79 152.00 | 0.03 |
| USD	ARGENTINA, REPUBLIC OF STEP-UP 20-09.01.38 | 140 203.00 | 48 790.64 | 0.02 |
| USD	ARGENTINA, REPUBLIC OF 1.00000% 20-09.07.29 | 20 992.00 | 6 213.63 | 0.00 |
| USD	AT&T INC 4.35000% 19-01.03.29 | 100 000.00 | 101 216.75 | 0.04 |
| USD	AT&T INC 4.75000% 15-15.05.46 | 75 000.00 | 73 902.66 | 0.03 |
| USD	CHILE, REPUBLIC OF 3.86000% 17-21.06.47 | 200 000.00 | 176 350.00 | 0.06 |
| USD	CNOOC PETROLEUM NORTH AMERICA ULC 6.40000% 07-15.05.37 | 200 000.00 | 221 985.48 | 0.08 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 7.15800% 15-12.03.45 | 500 000.00 | 469 781.25 | 0.17 |
| USD	ECUADOR GOVT INTERNATIONAL BD-REG-S STEP-UP/DOWN 20-31.07.35 | 99 060.00 | 63 262.19 | 0.02 |
| USD	ECUADOR, REPUBLIC OF-REG-S STEP-UP 0.50000% 20-31.07.30 | 37 800.00 | 31 274.78 | 0.01 |
| USD	ECUADOR, REPUBLIC OF-REG-S STEP-UP 20-31.07.40 | 45 400.00 | 24 751.51 | 0.01 |
| USD	ENERGY TRANSFER LP 6.00000% 18-15.06.48 | 60 000.00 | 59 320.26 | 0.02 |
| USD	ENLINK MIDSTREAM PARTNERS LP 4.40000% 14-01.04.24 | 25 000.00 | 24 968.75 | 0.01 |
| USD	EQT CORP 3.90000% 17-01.10.27 | 360 000.00 | 347 000.40 | 0.13 |
| USD	EVERSOURCE ENERGY 2.90000% 22-01.03.27 | 470 000.00 | 451 559.81 | 0.16 |
| USD	FLOWSERVE CORP 3.50000% 20-01.10.30 | 300 000.00 | 267 253.47 | 0.10 |
| USD	INDONESIA, REPUBLIC OF-REG-S 5.25000% 12-17.01.42 | 300 000.00 | 308 587.50 | 0.11 |
| USD	MEITUAN DIANPING-REG-S 3.05000% 20-28.10.30 | 700 000.00 | 532 131.25 | 0.19 |
| USD	ORBIA ADVANCE CORP SAB DE CV-REG-S 1.87500% 21-11.05.26 | 600 000.00 | 538 425.00 | 0.20 |
| USD	PEGASUS HAVA TASIMACILIGI AS-REG-S 9.25000% 21-30.04.26 | 260 000.00 | 246 675.00 | 0.09 |
| USD	PETROLEOS MEXICANOS 6.84000% 20-23.01.30 | 550 000.00 | 492 250.00 | 0.18 |
| USD	RELIANCE INDUSTRIES LTD-REG-S 3.62500% 22-12.01.52 | 945 000.00 | 708 608.25 | 0.26 |
| USD	SANTOS FINANCE LTD-REG-S 3.64900% 21-29.04.31 | 300 000.00 | 261 257.34 | 0.10 |
| USD	SHIMAO PROPERTY HOLDINGS LTD-REG-S 3.45000% 21-11.01.31 | 200 000.00 | 23 700.00 | 0.01 |
| USD	SHIMAO PROPERTY HOLDINGS LTD-REG-S 5.20000% 21-16.01.27 | 250 000.00 | 32 500.00 | 0.01 |
| USD	SPRINT CORP 7.87500% 14-15.09.23 | 200 000.00 | 209 500.00 | 0.08 |
| USD	TURKEY, REPUBLIC OF 6.87500% 06-17.03.36 | 450 000.00 | 368 803.12 | 0.13 |
| USD	UBS AG STAMFORD-SUB 7.62500% 12-17.08.22 | 2 400 000.00 | 2 423 221.20 | 0.89 |
| USD	UKRAINE, GOVERNMENT OF-REG-S 7.37500% 17-25.09.32 | 400 000.00 | 144 600.00 | 0.05 |
| USD	URUGUAY, REPUBLIC OF 4.12500% 12-20.11.45 | 250 000.00 | 242 390.62 | 0.09 |
| USD	VEB FINANCE PLC-REG-S LPN 5.94200% 13-21.11.23 | 200 000.00 | 4 000.00 | 0.00 |
| USD	VERIZON COMMUNICATIONS INC 2.10000% 21-22.03.28 | 555 000.00 | 506 068.03 | 0.18 |
| USD	VMWARE INC 1.00000% 21-15.08.24 | 220 000.00 | 208 287.29 | 0.08 |
| USD	YPF SA-REG-S 6.95000% 17-21.07.27 | 160 000.00 | 106 980.00 | 0.04 |
| USD	YPF SA-REG-S 7.00000% 17-15.12.47 | 170 000.00 | 93 075.00 | 0.03 |
| Total USD |  | 10 546 689.62 | 3.85 |
| Total Notes, fixed rate |  | 19 296 780.06 | 7.05 |
| Notes, zero coupon |  |  |  |
| USD |  |  |  |
| USD	ECUADOR, REPUBLIC OF-REG-S 0.00000% 20-31.07.30 | 12 974.00 | 7 121.92 | 0.00 |
| Total USD |  | 7 121.92 | 0.00 |
| Total Notes, zero coupon |  | 7 121.92 | 0.00 |
| Notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	BARCLAYS PLC-REG-S 0.577%VAR 21-09.08.29 | 550 000.00 | 502 361.29 | 0.18 |
| EUR	BPCE SA-REG-S-SUB 1.500%/VAR 21-13.01.42 | 600 000.00 | 575 049.14 | 0.21 |
| EUR	BRITISH AMERICAN TOBACCO PLC-REG-S -SUB 3.750%/VAR 21-PRP | 480 000.00 | 415 846.91 | 0.15 |
| EUR	CREDIT SUISSE GROUP-REG-S 2.125%/VAR 22-13.10.26 | 655 000.00 | 678 777.51 | 0.25 |
| EUR	CREDIT SUISSE GROUP-REG-S 2.875%/VAR 22-02.04.32 | 405 000.00 | 398 827.57 | 0.14 |
| EUR	DEUTSCHE BANK AG-REG-S-SUB 4.500%/VAR 21-PRP | 400 000.00 | 376 506.67 | 0.14 |

UBS (Lux) Bond SICAV – Global Inflation-linked (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 | ITALY, REPUBLIC OF-144A-REG-S 2.350%/CPI LINKED 14-15.09.24 | 2 620 000.00 | 3 551 122.06 | 1.30 |
| EUR | RAKUTEN GROUP INC-REG-S-SUB 4.250%VAR 21-PRP | 405 000.00 | 347 904.52 | 0.13 |
| EUR | VOLKSWAGEN INTERNATIONAL FIN-REG-S-SUB 4.375%/VAR 22-PRP | 500 000.00 | 484 641.53 | 0.18 |
| EUR | WINTERSHALL DEA FINANCE 2BV-REG-S-SUB 2.498%/VAR 21-PRP | 200 000.00 | 174 779.16 | 0.06 |
| EUR | WINTERSHALL DEA FINANCE 2BV-REG-S-SUB 3.000%/VAR 21-PRP | 100 000.00 | 85 207.22 | 0.03 |
| Total EUR |  |  | 7 591 023.58 | 2.77 |
| USD |  |  |  |  |
| USD | ALLIANZ SE-REG-S-SUB 3.500%/VAR 20-PRP | 200 000.00 | 175 242.02 | 0.06 |
| USD | PRUDENTIAL PLC-SUB-REG-S 2.950%/VAR 21-03.11.33 | 455 000.00 | 401 243.70 | 0.15 |
| USD | VODAFONE GROUP PLC-SUB 3.250%/VAR 21-04.06.81 | 200 000.00 | 179 743.36 | 0.07 |
| Total USD |  |  | 756 229.08 | 0.28 |
| Total Notes, floating rate |  | 8 347 252.66 | 3.05 |
| Medium term notes, fixed rate |  |  |  |
| AUD |  |  |  |
| AUD	CORPORACION ANDINA DE FOMENTO 4.50000% 15-05.06.25 | 450 000.00 | 322 071.50 | 0.12 |
| Total AUD |  | 322 071.50 | 0.12 |
| EUR |  |  |  |
| EUR	AEROPORTI DI ROMA SPA-REG-S 1.75000% 21-30.07.31 | 215 000.00 | 186 272.13 | 0.07 |
| EUR	AROUNDTOWN SA-REG-S 2.00000% 18-02.11.26 | 200 000.00 | 201 825.65 | 0.07 |
| EUR	ASTRAZENECA PLC-REG-S 0.37500% 21-03.06.29 | 205 000.00 | 192 968.89 | 0.07 |
| EUR	BANCO DE SABADELL SA-REG-S-SUB 2.50000% 21-15.04.31 | 600 000.00 | 569 637.19 | 0.21 |
| EUR	BAT INTERNATIONAL FINANCE PLC-REG-S 2.75000% 13-25.03.25 | 750 000.00 | 811 034.80 | 0.29 |
| EUR	CELLNEX FINANCE CO SA-REG-S 1.50000% 21-08.06.28 | 600 000.00 | 540 487.18 | 0.20 |
| EUR	CEZ AS-REG-S 2.37500% 22-06.04.27 | 215 000.00 | 223 895.16 | 0.08 |
| EUR	CTP NV-REG-S 0.87500% 22-20.01.26 | 990 000.00 | 921 142.57 | 0.34 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 2.00000% 21-14.07.24 | 200 000.00 | 209 605.06 | 0.08 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 2.87500% 21-16.05.27 | 1 000 000.00 | 943 565.57 | 0.34 |
| EUR	ELIS SA-REG-S 4.12500% 22-24.05.27 | 200 000.00 | 215 312.68 | 0.08 |
| EUR	ORANO SA 4.87500% 09-23.09.24 | 50 000.00 | 55 540.99 | 0.02 |
| EUR	P3 GROUP SARL-REG-S 0.87500% 22-26.01.26 | 580 000.00 | 549 231.59 | 0.20 |
| EUR	PPF ARENA 1 BV-REG-S 2.12500% 19-31.01.25 | 900 000.00 | 911 290.95 | 0.33 |
| EUR	REDEXIS GAS FINANCE BV-REG-S 1.87500% 15-27.04.27 | 100 000.00 | 102 034.85 | 0.04 |
| EUR	ROMANIA-REG-S 4.62500% 19-03.04.49 | 500 000.00 | 457 055.51 | 0.17 |
| EUR	RWE AG-REG-S 2.75000% 22-24.05.30 | 600 000.00 | 639 369.13 | 0.23 |
| EUR	TDC NET A/S-REG-S 5.05600% 22-31.05.28 | 295 000.00 | 319 532.88 | 0.12 |
| EUR	TRATON FINANCE LUXEMBOURG SA-REG-S 1.25000% 21-24.03.33 | 200 000.00 | 167 069.58 | 0.06 |
| EUR	VONOVIA SE-REG-S 1.62500% 21-01.09.51 | 200 000.00 | 130 227.58 | 0.05 |
| EUR	ZF FINANCE GMBH-REG-S 3.00000% 20-21.09.25 | 400 000.00 | 402 118.11 | 0.15 |
| Total EUR |  | 8 749 218.05 | 3.20 |
| GBP |  |  |  |
| GBP	AA BOND CO LTD-REG-S 3.25000% 21-31.07.28 | 100 000.00 | 112 436.91 | 0.04 |
| GBP	AUTOSTRADE PER L’ITALIA SPA 6.25000% 04-09.06.22 | 300 000.00 | 378 468.09 | 0.14 |
| GBP	PHOENIX GROUP HOLDINGS PLC-REG-S-SUB 4.12500% 17-20.07.22 | 100 000.00 | 126 209.72 | 0.05 |
| Total GBP |  | 617 114.72 | 0.23 |
| USD |  |  |  |
| USD	EGYPT, REPUBLIC OF-REG-S 8.70020% 19-01.03.49 | 450 000.00 | 329 625.00 | 0.12 |
| USD	GC TREASURY CENTER CO LTD-REG-S 4.40000% 22-30.03.32 | 500 000.00 | 474 710.00 | 0.17 |
| USD	GC TREASURY CENTER CO LTD-REG-S 5.20000% 22-30.03.52 | 200 000.00 | 183 296.00 | 0.07 |
| USD	INDIAN RAILWAY FINANCE CORP LTD-REG-S 2.80000% 21-10.02.31 | 410 000.00 | 339 951.50 | 0.12 |
| USD	MEXICO, UNITED STATES OF 4.75000% 12-08.03.44 | 150 000.00 | 134 925.00 | 0.05 |
| USD	MONGOLIA,GOVERNMENT OF-REG-S 8.75000% 17-09.03.24 | 600 000.00 | 615 112.50 | 0.22 |
| USD	MORGAN STANLEY-SUB 4.35000% 14-08.09.26 | 150 000.00 | 151 812.40 | 0.06 |
| USD	PERTAMINA PERSERO PT-REG-S 4.70000% 19-30.07.49 | 200 000.00 | 179 975.00 | 0.07 |
| USD	QTEL INTERNATIONAL FINANCE LTD-REG-S 2.62500% 21-08.04.31 | 200 000.00 | 176 500.00 | 0.06 |
| USD	REC LTD-REG-S 2.25000% 21-01.09.26 | 480 000.00 | 433 590.00 | 0.16 |
| USD	ROMANIA-REG-S 6.12500% 14-22.01.44 | 250 000.00 | 253 406.25 | 0.09 |
| USD	SAUDI ARABIAN OIL CO-REG-S 3.50000% 19-16.04.29 | 200 000.00 | 195 480.00 | 0.07 |
| Total USD |  | 3 468 383.65 | 1.26 |
| Total Medium term notes, fixed rate |  | 13 156 787.92 | 4.81 |
| Medium term notes, zero coupon |  |  |  |
| EUR |  |  |  |
| EUR	VOLKSWAGEN LEASING GMBH-REG-S 0.00000% 21-19.07.24 | 300 000.00 | 309 125.89 | 0.11 |
| Total EUR |  | 309 125.89 | 0.11 |
| Total Medium term notes, zero coupon |  | 309 125.89 | 0.11 |
| Medium term notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	AXA SA-REG-S-SUB 3.250%/VAR 18-28.05.49 | 100 000.00 | 103 266.57 | 0.04 |
| EUR	BANCO DE SABADELL SA-REG-S 2.625%/VAR 22-24.03.26 | 200 000.00 | 208 954.17 | 0.08 |
| EUR	BANK OF IRELAND GROUP PLC-REG-S 1.875%/VAR 22-05.06.26 | 260 000.00 | 271 670.50 | 0.10 |
| EUR	CREDIT SUISSE GROUP AG-REG-S 0.650%/VAR 20-14.01.28 | 150 000.00 | 141 110.95 | 0.05 |
| EUR	DEUTSCHE BANK AG-REG-S 1.000%/VAR 20-19.11.25 | 200 000.00 | 206 058.79 | 0.07 |
| EUR	DEUTSCHE BANK AG-REG-S 1.750%/VAR 20-19.11.30 | 100 000.00 | 93 827.46 | 0.03 |
| EUR	DEUTSCHE BANK AG-REG-S 4.000%/VAR 22-24.06.32 | 300 000.00 | 308 314.32 | 0.11 |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S-SUB 2.625%/VAR 18-PRP | 100 000.00 | 106 742.56 | 0.04 |
| EUR	NATWEST GROUP PLC-REG-S 2.000%/VAR 18-04.03.25 | 300 000.00 | 321 891.29 | 0.12 |
| EUR	NATWEST GROUP PLC-REG-S-SUB 1.043%/VAR 21-14.09.32 | 330 000.00 | 303 935.20 | 0.11 |
| EUR	TOTAL SE-REG-S-SUB 2.625%/VAR 15-PRP | 700 000.00 | 733 212.78 | 0.27 |
| EUR	VIRGIN MONEY UK PLC-REG-S 0.000%/VAR 21-27.05.24 | 260 000.00 | 275 106.94 | 0.10 |
| Total EUR |  | 3 074 091.53 | 1.12 |

UBS (Lux) Bond SICAV – Global Inflation-linked (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 | WELLS FARGO & CO 3.526%/VAR 22-24.03.28 | 775 000.00 | 754 510.62 | 0.28 |
| Total USD |  |  | 754 510.62 | 0.28 |
| Total Medium term notes, floating rate |  | 3 828 602.15 | 1.40 |
| Bonds, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	ADLER REAL ESTATE AG-REG-S 1.87500% 18-27.04.23 | 200 000.00 | 171 400.00 | 0.06 |
| EUR	ADO PROPERTIES SA-REG-S 1.50000% 17-26.07.24 | 200 000.00 | 129 621.25 | 0.05 |
| EUR	AUTOSTRADE PER L’ITALIA SPA REG-S 2.00000% 21-15.01.30 | 940 000.00 | 854 418.29 | 0.31 |
| EUR	FINNAIR OYJ-REG-S 4.25000% 21-19.05.25 | 305 000.00 | 285 073.02 | 0.10 |
| EUR	INEOS QUATTRO FINANCE 2 PLC-REG-S 2.50000% 21-15.01.26 | 120 000.00 | 118 753.46 | 0.04 |
| EUR	INTRUM JUSTITIA AB-REG-S 3.12500% 17-15.07.24 | 200 000.00 | 206 035.66 | 0.08 |
| EUR	MAPFRE SA-REG-S-SUB 2.87500% 22-13.04.30 | 300 000.00 | 299 457.22 | 0.11 |
| EUR	MPT OPERATING PARTNERSHIP LP/FIN CORP 3.32500% 17-24.03.25 | 100 000.00 | 104 746.61 | 0.04 |
| EUR	VERISURE HOLDING AB-REG-S 3.25000% 21-15.02.27 | 145 000.00 | 137 436.47 | 0.05 |
| EUR	WINTERSHALL DEA FINANCE BV-REG-S 0.84000% 19-25.09.25 | 600 000.00 | 597 821.78 | 0.22 |
| Total EUR |  | 2 904 763.76 | 1.06 |
| GBP |  |  |  |
| GBP	BELLIS ACQUISITION CO PLC-REG-S 3.25000% 21-16.02.26 | 180 000.00 | 191 712.50 | 0.07 |
| GBP	BERKELEY GROUP PLC/THE-REG-S 2.50000% 21-11.08.31 | 185 000.00 | 185 092.36 | 0.07 |
| GBP	PREMIER FOODS FINANCE PLC-REG-S 3.50000% 21-15.10.26 | 260 000.00 | 297 374.33 | 0.11 |
| GBP	SCOTTISH WIDOWS PLC-REG-S-SUB 5.50000% 13-16.06.23 | 100 000.00 | 128 707.70 | 0.05 |
| GBP	VERY GROUP FUNDING PLC/THE-REG-S 6.50000% 21-01.08.26 | 350 000.00 | 369 778.32 | 0.13 |
| Total GBP |  | 1 172 665.21 | 0.43 |
| MXN |  |  |  |
| MXN	MEXICO, UNITED MEXICAN STATES 7.75000% 11-13.11.42 | 893 200.00 | 4 073 523.05 | 1.49 |
| Total MXN |  | 4 073 523.05 | 1.49 |
| USD |  |  |  |
| USD	BRAZIL, FEDERATIVE REPUBLIC OF 7.12500% 06-20.01.37 | 420 000.00 | 454 203.75 | 0.17 |
| USD	COLOMBIA, REPUBLIC OF 6.12500% 09-18.01.41 | 530 000.00 | 480 080.63 | 0.17 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 2.70000% 21-12.07.26 | 200 000.00 | 112 000.00 | 0.04 |
| USD	HCA INC 5.37500% 15-01.02.25 | 200 000.00 | 206 738.00 | 0.08 |
| USD	KAZAKHSTAN, REPUBLIC OF-REG-S 4.87500% 14-14-10.44 | 300 000.00 | 270 806.25 | 0.10 |
| USD	MALAYSIA WAKALA SUKUK BHD-REG-S 3.07500% 21-28.04.51 | 250 000.00 | 211 921.88 | 0.08 |
| USD	MEXICO CITY AIRPORT TRUST-REG-S 5.50000% 17-31.07.47 | 201 000.00 | 151 755.00 | 0.05 |
| USD	PACIFIC GAS AND ELECTRIC CO 1.70000% 21-15.11.23 | 820 000.00 | 796 892.83 | 0.29 |
| USD	PERU, REPUBLIC OF 2.78300% 20-23.01.31 | 500 000.00 | 441 656.25 | 0.16 |
| USD	PERU, REPUBLIC OF 8.75000% 03-21.11.33 | 100 000.00 | 132 331.25 | 0.05 |
| Total USD |  | 3 258 385.84 | 1.19 |
| Total Bonds, fixed rate |  | 11 409 337.86 | 4.17 |
| Bonds, floating rate |  |  |  |
| AUD |  |  |  |
| AUD	AUSTRALIA 2.500%/CPI LINKED 10-20.09.30 | 2 350 000.00 | 2 432 283.14 | 0.89 |
| Total AUD |  | 2 432 283.14 | 0.89 |
| DKK |  |  |  |
| DKK	DENMARK, KINGDOM OF 0.100%/CPI LINKED 18-15.11.30 | 3 750 000.00 | 638 837.33 | 0.23 |
| Total DKK |  | 638 837.33 | 0.23 |
| EUR |  |  |  |
| EUR	ABANCA CORP BANCARIA SA-REG-S-SUB 6.125%/VAR 19-18.01.29 | 400 000.00 | 439 212.50 | 0.16 |
| EUR	BANCO DE SABADELL SA-REG-S-SUB 5.000%/VAR 21-PRP | 200 000.00 | 182 234.20 | 0.07 |
| EUR	ELM BV-REG-S-SUB 2.600%/VAR 15-PRP | 100 000.00 | 103 777.34 | 0.04 |
| EUR	FRANCE, REPUBLIC OF 1.850%/CPTFEMU LINKED 10-25.07.27 | 1 600 000.00 | 2 494 011.87 | 0.91 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.700%/CPI LINKED 14-25.07.30 | 3 000 000.00 | 4 249 851.41 | 1.55 |
| EUR	FRANCE, REPUBLIC OF-OAT 0.100%/CPI LINKED 15-01.03.25 | 2 000 000.00 | 2 532 693.97 | 0.93 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.100%/CPI LINKED 17-01.03.28 | 1 400 000.00 | 1 809 263.37 | 0.66 |
| EUR	FRANCE, REPUBLIC OF-REG-S 0.100%/CPTFEMU LINKED 20-01.03.26 | 1 620 000.00 | 2 047 589.76 | 0.75 |
| EUR	FRANCE,REPUBLIC OF-OAT 0.100%/INFLATION IDX LKD 19-01.03.29 | 1 630 000.00 | 2 097 105.02 | 0.77 |
| EUR	ITALY, REPUBLIC OF 3.100%/CPI LINKED 11-15.09.26 | 2 770 000.00 | 4 189 524.91 | 1.53 |
| EUR	ITALY, REPUBLIC OF-144A-REG-S 1.300%/CPI LINKED 17-15.05.28 | 1 000 000.00 | 1 307 121.31 | 0.48 |
| EUR	ITALY, REPUBLIC OF-144A-REG-S 0.400%/CPI LINKED 19-15.05.30 | 5 500 000.00 | 6 391 200.96 | 2.33 |
| EUR	ITALY, REPUBLIC OF-REG-S 0.650%/CPI LINKED 20-15.05.26 | 1 500 000.00 | 1 832 543.20 | 0.67 |
| EUR	RABOBANK NEDERLAND NV-REG-S-SUB 3.250%/VAR 19-PRP | 200 000.00 | 190 468.25 | 0.07 |
| EUR	SES SA-REG-S-SUB 2.875%/VAR 21-PRP | 780 000.00 | 750 973.03 | 0.27 |
| EUR	SPAIN GOVERNMENT-144A-REG-S 1.000%/CPI LINKED 15-30.11.30 | 2 333 000.00 | 3 176 525.22 | 1.16 |
| EUR	SPAIN GOVERNMENT-144A-REG-S 0.650%/CPI LINKED 17-30.11.27 | 4 600 000.00 | 6 106 596.06 | 2.23 |
| Total EUR |  | 39 900 692.38 | 14.58 |
| GBP |  |  |  |
| GBP	M&G PLC-REG-S-SUB 5.625%/VAR 18-20.10.51 | 175 000.00 | 225 170.43 | 0.08 |
| GBP	UNITED KINGDOM OF GB & NI 4.125%/RPI LINKED 92-22.07.30 | 730 000.00 | 3 409 286.81 | 1.25 |
| GBP	UNITED KINGDOM OF GB & NI-REG-S 0.125%/RPI LINKD 11-22.03.29 | 920 000.00 | 1 872 123.22 | 0.68 |
| GBP	UNITED KINGDOM OF GB & NI-REG-S 0.125%/RPI LINKD 15-22.03.26 | 1 230 000.00 | 2 202 728.40 | 0.80 |
| GBP	UNITED KINGDOM OF GB & NI-REG-S 0.125%/RPI LINKD 18-10.08.28 | 1 170 000.00 | 2 016 594.16 | 0.74 |
| Total GBP |  | 9 725 903.02 | 3.55 |
| JPY |  |  |  |
| JPY	JAPAN 0.005%/CPI LINKED 21-10.03.31 | 230 000 000.00 | 1 931 422.36 | 0.71 |
| JPY	JAPAN 0.100%/CPI LINKED 16-10.03.26 | 400 000 000.00 | 3 363 722.86 | 1.23 |
| JPY	JAPAN 0.100%/CPI LINKED 19-10.03.29 | 450 000 000.00 | 3 763 050.67 | 1.37 |
| JPY	JAPAN GOVT 0.100%/CPI LINKED 18-10.03.28 | 170 000 000.00 | 1 428 649.86 | 0.52 |
| Total JPY |  | 10 486 845.75 | 3.83 |

UBS (Lux) Bond SICAV – Global Inflation-linked (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) |  |
| NZD |  |  |  |  |
| NZD | NEW ZEALAND-REG-S 2.500%/CPI LINKED 14-20.09.35 | 4 786 000.00 | 3 879 416.54 | 1.42 |
| Total NZD |  |  | 3 879 416.54 | 1.42 |
| SEK |  |  |  |  |
| SEK | SWEDEN, KINGDOM OF 0.125%/CPI LINKED 17-01.12.27 | 24 000 000.00 | 3 004 123.25 | 1.10 |
| Total SEK |  |  | 3 004 123.25 | 1.10 |
| USD |  |  |  |  |
| USD | CREDIT SUISSE GROUP AG-REG-S-SUB 7.500%/VAR 18-PRP | 650 000.00 | 642 083.39 | 0.24 |
| USD | QBE INSURANCE GROUP LTD-REG-S-SUB 6.750%/VAR 14-02.12.44 | 250 000.00 | 256 709.20 | 0.09 |
| USD | SCOR SE-REG-S-SUB 5.250%/VAR 18-PRP | 200 000.00 | 173 750.00 | 0.06 |
| USD | WESTPAC BANKING CORP-SUB 5.000%/VAR 17-PRP | 180 000.00 | 167 897.84 | 0.06 |
| Total USD |  |  | 1 240 440.43 | 0.45 |
| Total Bonds, floating rate |  | 71 308 541.84 | 26.05 |
| Treasury notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 21-15.04.26 | 4 700 000.00 | 5 243 183.09 | 1.92 |
| USD	AMERICA, UNITED STATES OF 0.125%INFLATION LINKED 21-15.07.31 | 5 500 000.00 | 5 879 514.46 | 2.15 |
| Total USD |  | 11 122 697.55 | 4.07 |
| Total Treasury notes, fixed rate |  | 11 122 697.55 | 4.07 |
| Treasury notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 2.000%/CPI LINKED 06-15.01.26 | 3 235 000.00 | 5 103 045.42 | 1.87 |
| USD	AMERICA, UNITED STATES OF 2.375%/CPI LINKED 07-15.01.27 | 900 000.00 | 1 437 355.96 | 0.53 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 17-15.07.27 | 6 000 000.00 | 7 245 297.04 | 2.65 |
| USD	AMERICA, UNITED STATES OF 0.500%/CPI LINKED 18-15.01.28 | 4 900 000.00 | 5 869 195.88 | 2.15 |
| USD	AMERICA, UNITED STATES OF 0.875%/CPI LINKED 19-15.01.29 | 5 500 000.00 | 6 580 423.32 | 2.40 |
| USD	AMERICA, UNITED STATES OF 0.250%/CPI INDEX 19-15.07.29 | 6 000 000.00 | 6 824 429.56 | 2.49 |
| USD	AMERICA, UNITED STATES OF 0.625%/CPI LINKED 16-15.01.26 | 9 500 000.00 | 11 937 539.51 | 4.36 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 16-15.07.26 | 8 433 000.00 | 10 323 410.79 | 3.77 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 17-15.01.27 | 4 850 000.00 | 5 922 644.27 | 2.16 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 15-15.07.25 | 3 200 000.00 | 4 015 942.70 | 1.47 |
| USD	AMERICA, UNITED STATES OF 0.750%/CPI LINKED 18-15.07.28 | 8 000 000.00 | 9 588 095.36 | 3.50 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 20-15.01.30 | 6 800 000.00 | 7 567 264.71 | 2.77 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 20-15.07.30 | 7 000 000.00 | 7 834 732.28 | 2.86 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 21-15.01.31 | 6 780 000.00 | 7 451 247.51 | 2.72 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI INDEX 21-15.10.26 | 750 000.00 | 804 324.64 | 0.29 |
| Total USD |  | 98 504 948.95 | 35.99 |
| Total Treasury notes, floating rate |  | 98 504 948.95 | 35.99 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 237 291 196.80 | 86.70 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Mortgage Backed Securities, fixed rate |  |  |  |
| USD |  |  |  |
| USD	MSBAM LYNCH TRUST-SUB 3.99400% 16-01.12.49 | 150 000.00 | 146 079.42 | 0.05 |
| Total USD |  | 146 079.42 | 0.05 |
| Total Mortgage Backed Securities, fixed rate |  | 146 079.42 | 0.05 |
| Mortgage Backed Securities, floating rate |  |  |  |
| USD |  |  |  |
| USD	AVENTURA MALL TRUST-144A FLR 18-01.07.40 | 400 000.00 | 391 384.96 | 0.14 |
| USD	BAMLL COMMERCIAL MORT SET-144A 1M LIBOR+135BP 18-15.09.34 | 350 000.00 | 335 969.51 | 0.12 |
| USD	BANK 2017-BNK9 VAR 17-01.11.54 | 300 000.00 | 291 195.15 | 0.11 |
| USD	BBCMS TRUST CBM-144A 1M LIBOR+119.1098BP 18-15.07.37 | 350 000.00 | 338 910.74 | 0.12 |
| USD	BENCHMARK MORTGAGE TRUST VAR 18-01.02.51 | 150 000.00 | 145 820.26 | 0.05 |
| USD	CAMB COMM MORTGAGE TRUST-144A-SUB 1M LIBOR+145BP 19-15.12.37 | 125 000.00 | 121 719.78 | 0.05 |
| USD	CAMB COMM MORTGAGE TRUST-144A-SUB 1M LIBOR+175BP 19-15.12.37 | 270 000.00 | 262 211.74 | 0.10 |
| USD	CORE TRUST CORE-144A 1M LIBOR+110BP 19-15.12.31 | 190 000.00 | 34 691.18 | 0.01 |
| USD	GS MORTGAGE SECURITIES TRUST-144A VAR 17-01.01.43 | 1 225 000.00 | 1 164 501.05 | 0.43 |
| USD	JPMCC COMMERCIAL MORTGAGE SEC TRUST VAR 17-01.09.50 | 550 000.00 | 504 030.73 | 0.18 |
| Total USD |  | 3 590 435.10 | 1.31 |
| Total Mortgage Backed Securities, floating rate |  | 3 590 435.10 | 1.31 |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AVOLON HOLDINGS FUNDING LTD-144A 2.12500% 21-21.02.26 | 105 000.00 | 94 038.00 | 0.03 |
| USD	BROADCOM INC-144A 2.60000% 21-15.02.33 | 465 000.00 | 373 535.81 | 0.14 |
| USD	CCO HOLDINGS LLC/CAPITAL CORP-144A 5.50000% 16-01.05.26 | 80 000.00 | 80 072.00 | 0.03 |
| USD	MPLX LP 4.25000% 20-01.12.27 | 40 000.00 | 39 605.06 | 0.01 |
| USD	PHILLIPS 66 CO-144A 4.68000% 22-15.02.45 | 75 000.00 | 72 435.43 | 0.03 |
| USD	TRITON CONTAINER INTERNATIONAL LTD-144A 2.05000% 21-15.04.26 | 170 000.00 | 156 094.00 | 0.06 |
| Total USD |  | 815 780.30 | 0.30 |
| Total Notes, fixed rate |  | 815 780.30 | 0.30 |

UBS (Lux) Bond SICAV – Global Inflation-linked (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) |  |

Medium term notes, fixed rate
| AUD |  |
| --- | --- |
| AUD | AIR NEW ZEALAND LTD 5.70000% 22-25.05.26 | 680 000.00 | 489 061.40 | 0.18 |
| Total AUD |  | 489 061.40 | 0.18 |
| Total Medium term notes, fixed rate |  | 489 061.40 | 0.18 |
| Bonds, fixed rate |  |  |  |
| RUB |  |  |  |
| RUB	RUSSIA, FEDERATION OF 7.65000% 19-10.04.30* | 187 000 000.00 | 185 515.87 | 0.07 |
| Total RUB |  | 185 515.87 | 0.07 |
| Total Bonds, fixed rate |  | 185 515.87 | 0.07 |
| Bonds, floating rate |  |  |  |
| NZD |  |  |  |
| NZD	NEW ZEALAND 2.500%/CPI LINKED 17-20.09.40 | 7 300 000.00 | 5 897 293.90 | 2.15 |
| NZD	NEW ZEALAND 3.000%/CPI LINKED 13-20.09.30 | 11 500 000.00 | 9 743 380.54 | 3.56 |
| Total NZD |  | 15 640 674.44 | 5.71 |
| Total Bonds, floating rate |  | 15 640 674.44 | 5.71 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 20 867 546.53 | 7.62 |

Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market
Notes, fixed rate
| USD |  |
| --- | --- |
| USD | VISTRA OPERATIONS CO LLC-144A 5.12500% 22-13.05.25 | 365 000.00 | 367 781.08 | 0.13 |
| Total USD |  |  | 367 781.08 | 0.13 |
| Total Notes, fixed rate | 367 781.08 | 0.13 |
| Total Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market | 367 781.08 | 0.13 |
| 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	100.00 | 14 450.09 | 0.00 |
| USD	UBS (LUX) BOND SICAV - ASIAN HIGH YIELD (USD) I-X-DIST	45 000.00 | 2 835 450.00 | 1.04 |
| USD	UBS (LUX) BOND SICAV - CHINA HIGH YIELD (USD) U-X-ACC	305.00 | 1 688 196.35 | 0.62 |
| Total Luxembourg | 4 538 096.44 | 1.66 |
| Total Investment funds, open end | 4 538 096.44 | 1.66 |
| Total UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 | 4 538 096.44 | 1.66 |
| Total investments in securities | 263 064 620.85 | 96.11 |

| Derivative instruments |  |
| --- | --- |
| Derivative instruments listed on an official stock exchange |
| Financial Futures on bonds |
|  |  |  |  |
| EUR	EURO BTP ITALY GOVERNMENT FUTURE 08.06.22 | 18.00 | -338 022.22 | -0.12 |
| EUR	EURO-BUND FUTURE 08.06.22 | 16.00 | -254 529.00 | -0.09 |
| EUR	EURO-BOBL FUTURE 08.06.22 | -40.00 | 260 785.10 | 0.09 |
| EUR	EURO-SCHATZ FUTURE 08.06.22 | 136.00 | -241 845.40 | -0.09 |
| EUR	EURO-BUXL FUTURE 08.06.22 | -21.00 | 886 352.25 | 0.32 |
| EUR	EURO-OAT FUTURE 08.06.22 | 18.00 | -273 233.02 | -0.10 |
| GBP	LONG GILT FUTURE 28.09.22 | 50.00 | -111 536.55 | -0.04 |
| AUD	AUSTRALIA 10YR BOND FUTURE 15.06.22 | -4.00 | 27 212.41 | 0.01 |
| JPY	JAPAN GOVERNMENT 10Y BOND (OSE) FUTURE 13.06.22 | -20.00 | 58 455.44 | 0.02 |
| AUD	AUSTRALIA 3YR BOND FUTURE 15.06.22 | 115.00 | -237 990.55 | -0.09 |
| USD	US ULTRA LONG BOND (CBT) FUTURE 21.09.22 | -32.00 | 96 101.57 | 0.03 |
| USD	US LONG BOND FUTURE 21.09.22 | -25.00 | 45 578.13 | 0.02 |
| CAD	CAN 10YR BOND FUTURE 20.09.22 | 23.00 | -28 912.52 | -0.01 |
| USD	US 5YR TREASURY NOTE FUTURE 30.09.22 | -93.00 | 47 015.64 | 0.02 |
| USD	US 10YR ULTRA NOTE FUTURE 21.09.22 | -92.00 | 131 234.41 | 0.05 |
| USD	US 10YR TREASURY NOTE FUTURE 21.09.22 | -51.00 | 45 828.13 | 0.02 |
| USD	US 2YR TREASURY NOTE FUTURE 30.09.22 | 92.00 | -28 031.30 | -0.01 |
| Total Financial Futures on bonds |  | 84 462.52 | 0.03 |
| Financial Futures on interest rates |  |  |  |
|  |  |  |  |
| USD	90DAY EURO DOLLAR FUTURE 18.12.23 | 270.00 | -1 094 550.00 | -0.40 |
| USD	90DAY EURO DOLLAR FUTURE 16.12.24 | -270.00 | 782 425.00 | 0.29 |
| Total Financial Futures on interest rates |  | -312 125.00 | -0.11 |
| Total Derivative instruments listed on an official stock exchange |  | -227 662.48 | -0.08 |
| * Fair-valued - See note 15 – Event |  |  |  |
| UBS (Lux) Bond SICAV – Global Inflation-linked (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) |  |

Derivative instruments not listed on an official stock exchange and not traded on another regulated market
Swaps and forward swaps on interest rates
| USD USD | LCH/INTEREST RATE SWAP PAY 2.24100% 17-08.08.27 LCH/INTEREST RATE SWAP REC 3M LIBOR 17-08.08.27 | -3 500 000.00 | 81 012.80 | 0.03 |
| --- | --- | --- | --- | --- |
| USD | LCH/INTEREST RATE SWAP PAY 1.89660% 17-20.09.22 | -3 400 000.00 | -8 697.97 | 0.00 |
| USD | LCH/INTEREST RATE SWAP REC 3M LIBOR 17-20.09.22 |  |  |  |
| USD | LCH/INTEREST RATE SWAP PAY 1.29910% 20-03.03.50 | -600 000.00 | 182 992.70 | 0.07 |
| USD | LCH/INTEREST RATE SWAP REC 3M LIBOR 20-03.03.50 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAY 2.11600% 20-23.01.30 | -12 000 000.00 | 705 457.43 | 0.26 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 20-23.01.30 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAY 1.91900% 20-10.02.30 | -12 500 000.00 | 773 764.38 | 0.28 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 20-10.02.30 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAY 0.81528% 21-18.02.51 | -600 000.00 | 197 849.11 | 0.07 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 21-18.02.51 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAY 0.84167% 21-19.02.51 | -800 000.00 | 258 057.12 | 0.09 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 21-19.02.51 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAY 0.88544% 21-28.02.51 | -1 300 000.00 | 404 109.18 | 0.15 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 21-28.02.51 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAY 1.20750% 19-27.09.29 | -7 100 000.00 | 799 282.25 | 0.29 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 19-27.09.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAY 1.67500% 24-30.10.29 | -15 000 000.00 | 904 420.10 | 0.33 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 24-30.10.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAY 1.58300% 24-24.09.29 | -13 000 000.00 | 819 739.36 | 0.30 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 24-24.09.29 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP PAY 2.80500% 21-02.04.26 | -70 000 000.00 | -191 024.00 | -0.07 |
| CNY | CITI/INTEREST RATE SWAP REC CNRR007 21-02.04.26 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAY 1.73300% 21-16.04.31 | -18 000 000.00 | 1 284 649.89 | 0.47 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 21-16.04.31 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAY 1.72500% 21-17.06.31 | -12 500 000.00 | 883 208.71 | 0.32 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 21-17.06.31 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAY 0.93330% 21-26.10.51 | -1 200 000.00 | 358 155.83 | 0.13 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 21-26.10.51 |  |  |  |
| USD | LCH/INTEREST RATE SWAP PAY 1.82280% 21-29.10.51 | -1 500 000.00 | 310 440.34 | 0.11 |
| USD | LCH/INTEREST RATE SWAP REC 3M LIBOR 21-29.10.51 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAY 0.52820% 21-09.12.51 | -1 200 000.00 | 497 522.97 | 0.18 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 21-09.12.51 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAY 3.79250% 22-17.01.32 | -8 000 000.00 | 320 559.41 | 0.12 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 22-17.01.32 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAY 3.86400% 22-19.01.32 | -8 000 000.00 | 310 956.64 | 0.11 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 22-19.01.32 |  |  |  |
| KRW | JPMORGAN/INTEREST RATE SWAP PAY 2.15900% 22-25.01.32 | -4 400 000 000.00 | 289 216.44 | 0.11 |
| KRW | JPMORGAN/INTEREST RATE SWAP REC 3MKWCD 22-25.01.32 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 3.74500% 17-14.08.22 | 70 000 000.00 | 48 898.78 | 0.02 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAY CNRR007 17-14.08.22 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 2.23500% 20-10.06.25 | 20 000 000.00 | -1 178.05 | 0.00 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAY CNRR007 20-10.06.25 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.27000% 20-11.06.25 | 20 000 000.00 | 2 560.41 | 0.00 |
| CNY | CITI/INTEREST RATE SWAP PAY CNRR007 20-11.06.25 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 7.84500% 18-20.04.28 | 50 000 000.00 | -80 978.55 | -0.03 |
| MXN | CME/INTEREST RATE SWAP PAY MXI 18-20.04.28 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP REC 1.32000% 21-22.06.26 | 8 000 000.00 | -488 091.38 | -0.18 |
| NZD | LCH/INTEREST RATE SWAP PAY 3MFRA 21-22.06.26 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 2.59600% 21-10.08.26 | 1 600 000 000.00 | -701 933.61 | -0.26 |
| HUF | LCH/INTEREST RATE SWAP PAY 6ML 21-10.08.26 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 2.83500% 21-17.09.26 | 1 020 000 000.00 | -439 341.38 | -0.16 |
| HUF | LCH/INTEREST RATE SWAP PAY 6ML 21-17.09.26 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 7.50000% 21-22.09.31 | 46 000 000.00 | -147 257.51 | -0.05 |
| MXN | CME/INTEREST RATE SWAP PAY MXI 21-22.09.31 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 7.44000% 21-16.10.26 | 115 000 000.00 | -251 619.62 | -0.09 |
| MXN | CME/INTEREST RATE SWAP PAY MXI 21-16.10.26 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 7.49250% 21-19.10.26 | 165 000 000.00 | -345 212.71 | -0.13 |
| MXN | CME/INTEREST RATE SWAP PAY MXI 21-19.10.26 |  |  |  |
| ZAR | LCH/INTEREST RATE SWAP REC 7.67000% 22-06.01.32 | 28 000 000.00 | -74 043.24 | -0.03 |
| ZAR | LCH/INTEREST RATE SWAP PAY 3MZAR 22-06.01.32 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 4.82000% 22-17.01.27 | 1 200 000 000.00 | -316 652.91 | -0.12 |
| HUF | LCH/INTEREST RATE SWAP PAY 6MHUF 22-17.01.27 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 4.95100% 22-19.01.27 | 1 200 000 000.00 | -298 125.83 | -0.11 |
| HUF | LCH/INTEREST RATE SWAP PAY 6ML 22-19.01.27 |  |  |  |
| KRW | JPMORGAN/INTEREST RATE SWAP REC 2.02000% 22-25.01.24 | 22 500 000 000.00 | -265 438.91 | -0.10 |
| KRW | JPMORGAN/INTEREST RATE SWAP PAY 3MKWCD 22-25.01.24 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP REC 1.61930% 22-24.02.27 | 9 000 000.00 | -313 724.52 | -0.10 |
| GBP | LCH/INTEREST RATE SWAP PAY SONIA O/N 22-24.02.27 |  |  |  |
| Total Swaps and forward swaps on interest rates |  | 5 509 533.66 | 2.01 |
| Credit default swaps* |  |  |  |
|  |  |  |  |
| USD	BOA/MEX CREDIT DEFAULT SWAP PAY 1.00000% 19-20.06.24 | -1 450 000.00 | -14 864.42 | 0.00 |
| USD	BOA/TURKEY CREDIT DEFAULT SWAP REC 1.00000% 19-20.06.24 | 1 450 000.00 | -162 064.30 | -0.06 |
| Total Credit default swaps |  | -176 928.72 | -0.06 |
| Total Derivative instruments not listed on an official stock exchange and not traded on another regulated market |  | 5 332 604.94 | 1.95 |
| Total Derivative instruments |  | 5 104 942.46 | 1.87 |
| * Positive nominal: the subfund is “Receiver”, negative nominal: the subfund is “Payer”. |  |  |  |

UBS (Lux) Bond SICAV – Global Inflation-linked (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) |  |

Forward Foreign Exchange contracts
Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date
| MYR | 3 240 000.00 | USD | 740 910.13 | 7.6.2022 | -1 178.47 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 7 904 744.52 | CNY | 51 965 000.00 | 6.6.2022 | 99 994.68 | 0.04 |
| USD | 3 185 255.84 | TWD | 93 500 000.00 | 6.6.2022 | -37 613.32 | -0.01 |
| KRW | 4 155 000 000.00 | USD | 3 264 007.54 | 7.6.2022 | 90 224.73 | 0.03 |
| USD | 10 760 917.47 | JPY | 1 401 700 000.00 | 6.6.2022 | -135 321.47 | -0.05 |
| USD | 3 473 138.83 | BRL | 17 630 000.00 | 6.6.2022 | -246 100.44 | -0.09 |
| CLP | 1 946 000 000.00 | USD | 2 252 836.30 | 6.6.2022 | 110 903.33 | 0.04 |
| USD | 1 654 176.34 | PLN | 7 335 000.00 | 6.6.2022 | -60 818.42 | -0.02 |
| CHF | 49 612 500.00 | USD | 50 749 969.21 | 7.6.2022 | 1 013 384.40 | 0.37 |
| USD | 71 738 523.76 | EUR | 68 210 000.00 | 6.6.2022 | -1 334 905.24 | -0.49 |
| USD | 22 632 872.46 | NZD | 35 265 000.00 | 7.6.2022 | -321 609.61 | -0.12 |
| EUR | 169 144 500.00 | USD | 177 894 395.73 | 6.6.2022 | 3 310 245.99 | 1.21 |
| USD | 606 807.86 | AUD | 855 000.00 | 6.6.2022 | -6 535.51 | 0.00 |
| NOK | 3 540 000.00 | USD | 374 044.71 | 7.6.2022 | 2 525.65 | 0.00 |
| PLN | 4 000 000.00 | USD | 888 364.75 | 6.6.2022 | 46 874.38 | 0.02 |
| USD | 3 715 558.19 | MXN | 76 390 000.00 | 6.6.2022 | -158 665.21 | -0.06 |
| USD | 14 048 560.59 | GBP | 11 215 000.00 | 6.6.2022 | -85 670.26 | -0.03 |
| USD | 222 385.24 | HUF | 81 350 000.00 | 7.6.2022 | 2 887.27 | 0.00 |
| USD | 607 672.11 | DKK | 4 300 000.00 | 7.6.2022 | -11 540.74 | 0.00 |
| USD | 129 588.24 | SEK | 1 280 000.00 | 7.6.2022 | -1 249.00 | 0.00 |
| EUR | 529 767.29 | USD | 560 000.00 | 6.6.2022 | 7 540.13 | 0.00 |
| CNY | 1 305 000.00 | USD | 196 264.21 | 6.6.2022 | -263.08 | 0.00 |
| SGD | 1 943 850.25 | USD | 1 410 000.00 | 6.6.2022 | 7 933.86 | 0.00 |
| USD | 1 410 000.00 | PHP | 74 278 800.00 | 6.6.2022 | -7 306.70 | 0.00 |
| CNY | 11 400 000.00 | USD | 1 717 255.40 | 6.6.2022 | -5 061.65 | 0.00 |
| EUR | 1 415 000.00 | SEK | 14 782 575.75 | 7.6.2022 | 4 937.80 | 0.00 |
| EUR | 1 200 000.00 | USD | 1 262 265.24 | 6.6.2022 | 23 295.75 | 0.01 |
| USD | 247 462.40 | GBP | 200 000.00 | 6.6.2022 | -4 597.00 | 0.00 |
| EUR | 270 000.00 | USD | 285 676.88 | 6.6.2022 | 3 574.34 | 0.00 |
| AUD | 2 095 000.00 | USD | 1 470 268.28 | 6.6.2022 | 32 602.31 | 0.01 |
| USD | 366 078.41 | PLN | 1 630 000.00 | 6.6.2022 | -15 031.54 | -0.01 |
| EUR | 980 000.00 | USD | 1 033 803.18 | 6.6.2022 | 16 071.62 | 0.01 |
| NZD | 310 000.00 | USD | 195 943.25 | 7.6.2022 | 5 840.09 | 0.00 |
| ZAR | 11 345 560.77 | USD | 705 000.00 | 6.6.2022 | 22 926.95 | 0.01 |
| USD | 914 761.27 | CHF | 903 000.00 | 7.6.2022 | -27 386.54 | -0.01 |
| USD | 2 769 583.18 | EUR | 2 624 800.00 | 6.6.2022 | -42 367.22 | -0.02 |
| PLN | 6 215 000.00 | CZK | 33 250 871.50 | 6.6.2022 | 12 993.48 | 0.00 |
| USD | 388 538.02 | PLN | 1 745 000.00 | 6.6.2022 | -19 460.05 | -0.01 |
| CAD | 2 090 487.20 | USD | 1 600 000.00 | 6.6.2022 | 52 731.95 | 0.02 |
| MYR | 6 143 200.00 | USD | 1 400 000.00 | 7.6.2022 | 2 567.75 | 0.00 |
| USD | 1 400 000.00 | PHP | 73 640 000.00 | 6.6.2022 | -5 117.82 | 0.00 |
| USD | 328 568.67 | GBP | 270 000.00 | 6.6.2022 | -11 711.52 | 0.00 |
| USD | 442 598.65 | EUR | 420 000.00 | 6.6.2022 | -7 347.69 | 0.00 |
| NZD | 620 000.00 | USD | 394 034.12 | 7.6.2022 | 9 532.56 | 0.00 |
| USD | 1 789 499.63 | EUR | 1 701 000.00 | 6.6.2022 | -32 783.07 | -0.01 |
| NOK | 13 840 000.00 | SEK | 14 073 259.36 | 7.6.2022 | 33 718.81 | 0.01 |
| GBP | 320 000.00 | USD | 398 966.40 | 6.6.2022 | 4 328.64 | 0.00 |
| USD | 6 661 411.37 | EUR | 6 285 700.00 | 6.6.2022 | -72 464.20 | -0.03 |
| USD | 799 964.62 | CHF | 777 700.00 | 7.6.2022 | -11 451.05 | 0.00 |
| USD | 567 335.65 | KRW | 720 000 000.00 | 7.6.2022 | -13 903.16 | -0.01 |
| NZD | 4 080 000.00 | USD | 2 613 069.86 | 7.6.2022 | 42 659.24 | 0.01 |
| JPY | 126 300 000.00 | USD | 987 113.44 | 6.6.2022 | -5 309.22 | 0.00 |
| CNY | 3 675 000.00 | USD | 549 327.35 | 6.6.2022 | 2 629.85 | 0.00 |
| PLN | 3 215 000.00 | USD | 732 921.39 | 6.6.2022 | 18 777.06 | 0.01 |
| GBP | 925 000.00 | USD | 1 155 021.69 | 6.6.2022 | 10 753.03 | 0.00 |
| EUR | 202 434.94 | MXN | 4 290 000.00 | 6.6.2022 | -704.65 | 0.00 |
| GBP | 128 007.48 | USD | 160 000.00 | 6.6.2022 | 1 327.44 | 0.00 |
| USD | 322 845.98 | AUD | 455 000.00 | 6.6.2022 | -3 553.12 | 0.00 |
| SEK | 4 126 409.14 | GBP | 331 100.00 | 7.6.2022 | 4 504.17 | 0.00 |
| USD | 1 355 520.85 | AUD | 1 905 000.00 | 6.6.2022 | -11 051.22 | 0.00 |
| USD | 675 000.00 | ZAR | 10 570 398.08 | 6.6.2022 | -3 192.81 | 0.00 |
| USD | 5 284 377.78 | CNY | 35 585 000.00 | 6.7.2022 | -47 481.38 | -0.02 |
| CNY | 35 585 000.00 | USD | 5 296 175.03 | 6.6.2022 | 48 422.74 | 0.02 |
| SEK | 9 237 489.84 | GBP | 743 900.00 | 7.6.2022 | 6 692.08 | 0.00 |
| TWD | 93 500 000.00 | USD | 3 197 893.15 | 6.6.2022 | 24 976.01 | 0.01 |
| USD | 3 206 777.10 | TWD | 93 500 000.00 | 6.7.2022 | -32 083.39 | -0.01 |
| KRW | 3 435 000 000.00 | USD | 2 741 114.32 | 6.7.2022 | 26 565.96 | 0.01 |
| USD | 2 741 639.40 | KRW | 3 435 000 000.00 | 7.6.2022 | -31 354.07 | -0.01 |
| USD | 1 350 000.00 | CAD | 1 718 929.89 | 6.6.2022 | -8 980.02 | 0.00 |
| USD | 2 148 168.50 | MYR | 9 383 200.00 | 7.6.2022 | 5 869.09 | 0.00 |
| PHP | 147 918 800.00 | USD | 2 827 194.19 | 6.6.2022 | -4 769.67 | 0.00 |
| MYR | 9 384 000.00 | USD | 2 148 056.59 | 6.7.2022 | -7 516.50 | 0.00 |
| USD | 2 821 588.63 | PHP | 147 950 000.00 | 6.7.2022 | 11 832.85 | 0.00 |
| USD | 491 359.44 | MXN | 9 570 000.00 | 6.6.2022 | 6 003.79 | 0.00 |
| USD | 2 357 359.18 | CLP | 1 946 000 000.00 | 6.6.2022 | -6 380.45 | 0.00 |
| USD | 3 699 506.87 | BRL | 17 630 000.00 | 6.7.2022 | 16 351.38 | 0.01 |
| BRL | 17 630 000.00 | USD | 3 732 006.77 | 6.6.2022 | -12 767.50 | 0.00 |
| CLP | 1 946 000 000.00 | USD | 2 343 590.05 | 6.7.2022 | 5 256.14 | 0.00 |
| USD | 3 343 557.39 | EUR | 3 100 000.00 | 6.6.2022 | 22 524.84 | 0.01 |
| USD | 13 008 383.69 | GBP | 10 315 000.00 | 6.7.2022 | 5 920.15 | 0.00 |
| USD | 321 319.72 | PLN | 1 375 000.00 | 6.6.2022 | -168.73 | 0.00 |
| Total Forward Foreign Exchange contracts | 2 325 929.58 | 0.85 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 5 566 463.11* | 2.03 |
| Bank overdraft and other short-term liabilities | -3 757 583.78 | -1.37 |
| Other assets and liabilities | 1 400 714.27 | 0.51 |
| Total net assets | 273 705 086.49 | 100.00 |
| * As at 31 May 2022, cash amounts serve as collateral for the counterparty Citibank for an amount of USD 260 000.00 and Morgan Stanley London for an amount of USD 260 000.00. |  |  |

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

Translation (ENFR, 2022-05-31):
# UBS (Lux) Bond SICAV – Global Inflation-linked (USD)
| Comparaison sur trois ans |  |
| --- | --- |
|  | ISIN | 31.5.2022 | 31.5.2021 | 31.5.2020 |
| Actif net en USD |  | 273 705 086.49 | 318 001 979.77 | 157 652 769.82 |
| Catégorie (CHF hedged) I-A1-acc | LU0455555184 |  |  |  |
| Actions en circulation |  | 13 485.9070 | 69 067.9070 | 66 424.0000 |
| Valeur nette d’inventaire par action en CHF |  | 108.95 | 111.87 | 105.09 |
| Prix d’émission et de rachat par action en CHF 1 |  | 108.95 | 111.87 | 105.09 |
| Catégorie (CHF hedged) I-A1-dist | LU0455555267 |  |  |  |
| Actions en circulation |  | 114 891.6890 | 119 956.6890 | 121 607.0000 |
| Valeur nette d’inventaire par action en CHF |  | 100.03 | 103.87 | 98.99 |
| Prix d’émission et de rachat par action en CHF 1 |  | 100.03 | 103.87 | 98.99 |
| Catégorie I-A3-acc | LU0455552678 |  |  |  |
| Actions en circulation |  | 1 362.0000 | 1 362.0000 | 4 120.0000 |
| Valeur nette d’inventaire par action en USD |  | 127.81 | 129.61 | 120.09 |
| Prix d’émission et de rachat par action en USD 1 |  | 127.81 | 129.61 | 120.09 |
| Catégorie (CHF hedged) I-A3-acc | LU0455555697 |  |  |  |
| Actions en circulation |  | 3 000.0000 | 5 000.0000 | 5 000.0000 |
| Valeur nette d’inventaire par action en CHF |  | 108.74 | 111.54 | 104.67 |
| Prix d’émission et de rachat par action en CHF 1 |  | 108.74 | 111.54 | 104.67 |
| Catégorie (EUR hedged) I-A3-acc | LU0455558790 |  |  |  |
| Actions en circulation |  | 18 978.7480 | 86 861.6490 | 7 925.0000 |
| Valeur nette d’inventaire par action en EUR |  | 113.06 | 115.58 | 108.19 |
| Prix d’émission et de rachat par action en EUR 1 |  | 113.06 | 115.58 | 108.19 |
| Catégorie (CHF hedged) I-B-acc | LU0455555853 |  |  |  |
| Actions en circulation |  | 78 309.1540 | 49 601.3610 | 41 324.2830 |
| Valeur nette d’inventaire par action en CHF |  | 115.27 | 117.79 | 110.11 |
| Prix d’émission et de rachat par action en CHF 1 |  | 115.27 | 117.79 | 110.11 |
| Catégorie I-X-acc 2 | LU2418147265 |  |  |  |
| Actions en circulation |  | - | - | - |
| Valeur nette d’inventaire par action en USD |  | - | - | - |
| Prix d’émission et de rachat par action en USD 1 |  | - | - | - |
| Catégorie (EUR hedged) I-X-acc 3 | LU2069292600 |  |  |  |
| Actions en circulation |  | - | 110 291.0040 | 102 542.0040 |
| Valeur nette d’inventaire par action en EUR |  | - | 108.26 | 100.88 |
| Prix d’émission et de rachat par action en EUR 1 |  | - | 108.26 | 100.88 |
| Catégorie (EUR hedged) K-1-acc 4 | LU0455557396 |  |  |  |
| Actions en circulation |  | - | - | 0.7000 |
| Valeur nette d’inventaire par action en EUR |  | - | - | 3 714 533.94 |
| Prix d’émission et de rachat par action en EUR 1 |  | - | - | 3 714 533.94 |
| Catégorie P-acc | LU0455550201 |  |  |  |
| Actions en circulation |  | 254 278.3750 | 341 095.0690 | 136 644.3630 |
| Valeur nette d’inventaire par action en USD |  | 141.50 | 144.24 | 134.36 |
| Prix d’émission et de rachat par action en USD 1 |  | 141.50 | 144.24 | 134.36 |
| Catégorie (CHF hedged) P-acc | LU0455553486 |  |  |  |
| Actions en circulation |  | 190 037.3320 | 196 664.7550 | 203 584.3940 |
| Valeur nette d’inventaire par action en CHF |  | 117.74 | 121.43 | 114.57 |
| Prix d’émission et de rachat par action en CHF 1 |  | 117.74 | 121.43 | 114.57 |
| Catégorie (EUR hedged) P-acc | LU0455556406 |  |  |  |
| Actions en circulation |  | 883 104.2110 | 687 927.6750 | 280 233.9340 |
| Valeur nette d’inventaire par action en EUR |  | 124.80 | 128.29 | 120.75 |
| Prix d’émission et de rachat par action en EUR 1 |  | 124.80 | 128.29 | 120.75 |
| Catégorie Q-acc | LU1240775160 |  |  |  |
| Actions en circulation |  | 114 564.1230 | 68 812.5630 | 23 911.9500 |
| Valeur nette d’inventaire par action en USD |  | 126.20 | 128.14 | 118.87 |
| Prix d’émission et de rachat par action en USD 1 |  | 126.20 | 128.14 | 118.87 |
| Catégorie (CHF hedged) Q-acc | LU1240774940 |  |  |  |
| Actions en circulation |  | 42 997.7070 | 32 073.6280 | 19 946.0070 |
| Valeur nette d’inventaire par action en CHF |  | 108.77 | 111.73 | 105.00 |
| Prix d’émission et de rachat par action en CHF 1 |  | 108.77 | 111.73 | 105.00 |
| Catégorie (EUR hedged) Q-acc | LU1240775087 |  |  |  |
| Actions en circulation | 427 429.8880 | 463 677.1210 | 263 145.7200 |
| Valeur nette d’inventaire par action en EUR | 111.87 | 114.53 | 107.37 |
| Prix d’émission et de rachat par action en EUR 1 | 111.87 | 114.53 | 107.37 |
| 1  Voir note 1 2  La catégorie d’actions I-X-acc était en circulation pour la période allant du 9.2.2022 au 21.4.2022 3  La catégorie d’actions (EUR hedged) I-X-acc était en circulation jusqu’au 2.11.2021 4  La catégorie d’actions (EUR hedged) K-1-acc était en circulation jusqu’au 30.7.2020 |  |  |  |

UBS (Lux) Bond SICAV – Global Inflation-linked (USD) Rapport annuel et états financiers révisés au 31 mai 2022
| Performance |  |
| --- | --- |
|  | Devise | 2021/2022 | 2020/2021 | 2019/2020 |
| Catégorie (CHF hedged) I-A1-acc | CHF | -2.6% | 6.5% | 2.9% |
| Catégorie (CHF hedged) I-A1-dist | CHF | -2.6% | 6.5% | 2.9% |
| Catégorie I-A3-acc | USD | -1.4% | 7.9% | 6.3% |
| Catégorie (CHF hedged) I-A3-acc | CHF | -2.5% | 6.6% | 3.0% |
| Catégorie (EUR hedged) I-A3-acc | EUR | -2.2% | 6.8% | 3.4% |
| Catégorie (CHF hedged) I-B-acc | CHF | -2.1% | 7.0% | 3.4% |
| Catégorie I-X-acc 1 | USD | - | - | - |
| Catégorie (EUR hedged) I-X-acc 2 | EUR | - | 7.3% | - |
| Catégorie (EUR hedged) K-1-acc 3 | EUR | - | - | 3.3% |
| Catégorie P-acc | USD | -1.9% | 7.4% | 5.8% |
| Catégorie (CHF hedged) P-acc | CHF | -3.0% | 6.0% | 2.5% |
| Catégorie (EUR hedged) P-acc | EUR | -2.7% | 6.2% | 2.9% |
| Catégorie Q-acc | USD | -1.5% | 7.8% | 6.2% |
| Catégorie (CHF hedged) Q-acc | CHF | -2.6% | 6.4% | 2.9% |
| Catégorie (EUR hedged) Q-acc | EUR | -2.3% | 6.7% | 3.3% |
| Benchmark: 4 Bloomberg Barclays Global inflation linked 1-10 years (hedged CHF) | CHF | 1.2% | 4.8% | 1.1% |
| Bloomberg Barclays Global inflation linked 1-10 years | USD | 2.5% | 6.1% | 4.0% |
| Bloomberg Barclays Global inflation linked 1-10 years (hedged EUR) | EUR | 1.5% | 5.1% | 1.5% |

1 
La catégorie d’actions I-X-acc était en circulation pour la période allant du 9.2.2022 au 21.4.2022. Dès lors, aucune donnée n’est disponible pour calculer la performance.
2 
La catégorie d’actions (EUR hedged) I-X-acc était en circulation jusqu’au 2.11.2021. Dès lors, aucune donnée n’est disponible pour calculer la performance en 2022.
3 
La catégorie d’actions (EUR hedged) K-1-acc était en circulation jusqu’au 30.7.2020. Aucune donnée n’est disponible pour calculer la performance du fonds vu son lancement récent.
4 
Le compartiment est géré activement. L’indice est un point de référence par rapport auquel le rendement du compartiment peut être mesuré.
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.
UBS (Lux) Bond SICAV – Global Inflation-linked (USD) Rapport annuel et états financiers révisés au 31 mai 2022

## Rapport du Gestionnaire de portefeuille
Au cours de l’exercice, du 1
er 
juin 2021 au 31 mai 2022, les rendements des bons du Trésor américain ont aug- menté de manière significative, car les signes d’une inflation forte et persistante ont amené les marchés 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 en cours en Ukraine. À la fin de la période considérée, la Fed américaine a relevé son taux directeur, le faisant passer d’un taux effectif consolidé à 1.0%.
Le compartiment a affiché une performance négative en termes absolus et par rapport à l’indice Bloomberg Bar- clays Global inflation linked 1-10 years (avec couverture en USD) sur l’exercice. Pour ce qui est de la gestion de la duration, les marchés surpondérés, tels que le Mexique et la Hongrie, ont nui à la performance, tandis que les marchés sous-pondérés tels que le Royaume-Uni et la Pologne y ont contribué favorablement. Notre exposi- tion hors indice aux secteurs du crédit a été négative, les spreads s’étant élargis et les marchés des obligations d’État indexées sur l’inflation ayant globalement sous- performé. Nous nous attendons à ce que la plupart des banques centrales adoptent une politique de hausse des taux, tant que l’inflation restera élevée. Par consé- quent, les rendements sont susceptibles de graviter à des niveaux plus élevés – avec des conséquences indésirables sur la duration et les actifs à risque à long terme. Nous maintenons notre surpondération sur la duration en Nou- velle-Zélande et notre sous-pondération au Royaume-Uni et aux États-Unis. Nous maintenons le positionnement intra-zone euro en sous-pondération de l’Allemagne par rapport à l’Espagne et conservons l’Italie par rapport à l’Allemagne pour des raisons tactiques. Les fondamen- taux économiques continuent de soutenir les obligations investment grade, mais le resserrement monétaire et un moindre soutien des liquidités devraient entraîner des écarts de crédit modérément plus importants au cours de l’année. Nous voyons donc des opportunités dans l’ajout d’une allocation secteurs des entreprises et SSA plus tard dans l’année à des valorisations plus attrayan- tes, bien que cela ne promette pas de générer un gain de rendement important en 2022. En plus des participa- tions dans des agences, des sociétés supranationales et des sociétés investment grade, nous retenons certaines opportunités sélectives dans les obligations souveraines et d’entreprises très bien notées des marchés émergents.

## Structure du portefeuille-titres
Répartition géographique en % de l’actif net	
| Etats-Unis | 43.56 |
| --- | --- |
| Nouvelle-Zélande | 7.37 |
| Italie | 6.83 |
| France | 6.42 |
| Grande-Bretagne | 5.47 |
| Espagne | 4.21 |
| Japon | 3.99 |
| Luxembourg | 2.64 |
| Mexique | 1.97 |
| Allemagne | 1.74 |
| Suisse | 1.57 |
| Brésil | 1.40 |
| Pays-Bas | 1.34 |
| Suède | 1.22 |
| Australie | 1.11 |
| Danemark | 0.66 |
| Inde | 0.54 |
| Irlande | 0.34 |
| Iles Caïmans | 0.29 |
| Roumanie | 0.26 |
| Thaïlande | 0.24 |
| Turquie | 0.23 |
| Mongolie | 0.23 |
| Pérou | 0.21 |
| Indonésie | 0.18 |
| Colombie | 0.18 |
| Costa Rica | 0.17 |
| Chine | 0.15 |
| Bulgarie | 0.13 |
| Argentine | 0.12 |
| Bermudes | 0.12 |
| Egypte | 0.12 |
| Venezuela | 0.12 |
| Ukraine | 0.11 |
| Finlande | 0.10 |
| Kazakhstan | 0.10 |
| Uruguay | 0.09 |
| Jersey | 0.09 |
| République tchèque | 0.08 |
| Canada | 0.08 |
| Malaisie | 0.08 |
| Arabie saoudite | 0.07 |
| Fédération russe (CEI) | 0.07 |
| Chili | 0.06 |
| Equateur | 0.05 |
| Total | 96.11 |

Répartition économique en % de l’actif net	
Gouvernements nationaux et centraux	76.99
| Etablissements financiers et sociétés de participation | 4.50 |
| --- | --- |
| Banques & instituts de crédit | 3.84 |
| Trafic et transport | 1.67 |
| Fonds de placement | 1.66 |
| Télécommunications | 1.26 |
| Emetteurs d’obligations sécurisées (Pfandbriefe) et |  |
| sociétés de refinancement | 1.12 |
| Distribution d’énergie & d’eau | 1.08 |
| Pétrole | 0.76 |
| Assurances | 0.71 |
| Immobilier | 0.35 |
| Internet, logiciels et services informatiques | 0.31 |
| Chimie | 0.26 |
| Diverses sociétés non classées | 0.25 |
| Services divers | 0.24 |
| Appareils et composants électriques | 0.17 |
| Tabac et boissons alcoolisées | 0.15 |
| Equipement informatique et de réseau | 0.14 |
| Commerce de détail, centres commerciaux | 0.13 |
| Organisations supranationales | 0.12 |
| Soins de santé & services sociaux | 0.11 |
| Machines et appareils | 0.10 |
| Véhicules | 0.09 |
| Produits pharmaceutiques, cosmétiques & médicaux | 0.07 |
| Industrie de conditionnement | 0.03 |
| Total | 96.11 |

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

## Etat des actifs nets
Actif	31.5.2022
USD
Portefeuille-titres, cours d’achat	281 108 191.51
Portefeuille-titres, plus- (moins-) value non-réalisée	18 043 570.66
Total portefeuille-titres (note 1)	263 064 620.85
Avoirs en banque, dépôts à vue et à terme	5 566 463.11*
A recevoir sur ventes de titres (note 1)	2 681 966.39
A recevoir sur souscriptions	289 284.29
Intérêts à recevoir sur titres	1 415 501.18
Intérêts à recevoir sur liquidités	109.84
Frais payés d’avance	66 391.55
Bénéfice non réalisé sur contrats de change à terme (note 1)	2 325 929.58
Bénéfice non réalisé sur swaps (note 1)	5 332 604.94
Perte non réalisée sur contrats financiers à terme (note 1)	-227 662.48
Crédit en compte courant	-2 426 694.35
Autres engagements à court terme (marges)	-1 330 889.43
A payer sur achats de titres (note 1)	-28 403.44
A payer sur rachats	-2 785 496.71
Provisions pour commission de gestion forfaitaire (note 2)	-187 731.78
Provisions pour taxe d’abonnement (note 3)	-20 856.08
Provisions pour autres commissions et frais (note 2)		-30 050.97		 Total des Provisions pour frais			-238 638.83
Actifs nets à la fin de l’exercice	273 705 086.49

## Etat des opérations
Revenus	1.6.2021-31.5.2022
USD
Revenus d’intérêts sur liquidités	30 087.32
Intérêts sur titres	4 476 054.53
Dividendes	302 069.96
Revenus d’intérêts sur swaps (note 1)	2 060 111.93
Revenus nets sur prêts de titres (note 17)	79 575.00
Total des Revenus	7 183 051.16
Charges
Autres revenus (note 4)	235 152.42
Charges d’intérêts sur swaps (note 1)	-2 156 724.29
Commission de gestion forfaitaire (note 2)	-2 425 170.65
Taxe d’abonnement (note 3)	-139 896.94
Autres commissions et frais (note 2)	-72 232.92
Revenus (Pertes) net(te)s des investissements	2 326 943.05
Total des Charges	-4 856 108.11
Charges d’intérêts sur liquidités et crédit en compte courant	-62 083.31
Bénéfices (pertes) réalisé(e)s (note 1)
Bénéfice (perte) réalisé(e) sur titres évalués à la valeur de marché hors options	3 272 993.68
Bénéfice (perte) réalisé(e) sur options	29 480.16
Bénéfice (perte) réalisé(e) sur contrats financiers à terme	2 234 407.36
Bénéfice (perte) réalisé(e) sur contrats de change à terme	-12 715 128.82
Bénéfice (perte) réalisé(e) sur swaps	-1 123 131.67
Bénéfice (perte) net(te) réalisé(e) au cours de l’exercice	-6 780 078.75
Total des Bénéfices (pertes) réalisé(e)s	-9 107 021.80
Bénéfice (perte) réalisé(e) de change réalisé(e)	-805 642.51
Variations des plus- (moins-) values non-réalisées (note 1)
Plus- (Moins-) value non réalisée sur titres évalués à la valeur de marché hors options	-36 365 011.85 Plus- (Moins-) value non réalisée sur instruments du marché monétaire et titres évalués en fonction des rendements		181.68
Plus- (Moins-) value non réalisée sur contrats financiers à terme	-325 990.77
Plus- (Moins-) value non réalisée sur contrats de change à terme	602 076.96
Total des Variations des plus- (moins-) values non-réalisées	-30 779 241.91
Plus- (Moins-) value non réalisée sur swaps	5 309 502.07
Augmentation/(diminution) nette de l’actif net issue de l’activité	-37 559 320.66
* Au 31 mai 2022, des avoirs en banque ont été utilisés à titre de sûreté, à hauteur de 260 000.00 USD en faveur de Citibank et à hauteur de 260 000.00 USD en faveur de Morgan Stanley London.
UBS (Lux) Bond SICAV – Global Inflation-linked (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 | 318 001 979.77 |
| Souscriptions | 209 799 367.28 |
| Rachats | 	-216 381 711.98	 |
| Souscriptions (Rachats) net(te)s | -6 582 344.70 |
| Dividendes versés | -155 227.92 |
| Revenus (Pertes) net(te)s des investissements | 2 326 943.05 |
| Total des Bénéfices (pertes) réalisé(e)s | -9 107 021.80 |
| Total des Variations des plus- (moins-) values non-réalisées | 	-30 779 241.91	 |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | -37 559 320.66 |
| Actifs nets à la fin de l’exercice | 273 705 086.49 |
| Evolution des actions en circulation |  |
|  | 1.6.2021-31.5.2022 |
| Catégorie | (CHF hedged) I-A1-acc |
| Nombre d’actions en circulation au début de l’exercice | 69 067.9070 |
| Nombre d’actions émises | 9 030.8270 |
| Nombre d’actions rachetées | -64 612.8270 |
| Nombre d’actions en circulation à la fin de l’exercice | 13 485.9070 |
| Catégorie | (CHF hedged) I-A1-dist |
| Nombre d’actions en circulation au début de l’exercice | 119 956.6890 |
| Nombre d’actions émises | 9 985.0000 |
| Nombre d’actions rachetées | -15 050.0000 |
| Nombre d’actions en circulation à la fin de l’exercice | 114 891.6890 |
| Catégorie | I-A3-acc |
| Nombre d’actions en circulation au début de l’exercice | 1 362.0000 |
| Nombre d’actions émises | 0.0000 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de l’exercice | 1 362.0000 |
| Catégorie | (CHF hedged) I-A3-acc |
| Nombre d’actions en circulation au début de l’exercice | 5 000.0000 |
| Nombre d’actions émises | 0.0000 |
| Nombre d’actions rachetées | -2 000.0000 |
| Nombre d’actions en circulation à la fin de l’exercice | 3 000.0000 |
| Catégorie | (EUR hedged) I-A3-acc |
| Nombre d’actions en circulation au début de l’exercice | 86 861.6490 |
| Nombre d’actions émises | 44 809.7980 |
| Nombre d’actions rachetées | -112 692.6990 |
| Nombre d’actions en circulation à la fin de l’exercice | 18 978.7480 |
| Catégorie | (CHF hedged) I-B-acc |
| Nombre d’actions en circulation au début de l’exercice | 49 601.3610 |
| Nombre d’actions émises | 35 484.4420 |
| Nombre d’actions rachetées | -6 776.6490 |
| Nombre d’actions en circulation à la fin de l’exercice | 78 309.1540 |
| Catégorie | I-X-acc |
| Nombre d’actions en circulation au début de l’exercice | 0.0000 |
| Nombre d’actions émises | 100.0000 |
| Nombre d’actions rachetées | -100.0000 |
| Nombre d’actions en circulation à la fin de l’exercice | 0.0000 |
| Catégorie | (EUR hedged) I-X-acc |
| Nombre d’actions en circulation au début de l’exercice | 110 291.0040 |
| Nombre d’actions émises | 9 003.0000 |
| Nombre d’actions rachetées | -119 294.0040 |
| Nombre d’actions en circulation à la fin de l’exercice | 0.0000 |
| Catégorie | P-acc |
| Nombre d’actions en circulation au début de l’exercice | 341 095.0690 |
| Nombre d’actions émises | 236 588.9620 |
| Nombre d’actions rachetées | -323 405.6560 |
| Nombre d’actions en circulation à la fin de l’exercice | 254 278.3750 |
| Catégorie | (CHF hedged) P-acc |
| Nombre d’actions en circulation au début de l’exercice | 196 664.7550 |
| Nombre d’actions émises | 26 087.4590 |
| Nombre d’actions rachetées | -32 714.8820 |
| Nombre d’actions en circulation à la fin de l’exercice | 190 037.3320 |
| Catégorie | (EUR hedged) P-acc |
| Nombre d’actions en circulation au début de l’exercice | 687 927.6750 |
| Nombre d’actions émises | 737 602.5840 |
| Nombre d’actions rachetées | -542 426.0480 |
| Nombre d’actions en circulation à la fin de l’exercice | 883 104.2110 |

UBS (Lux) Bond SICAV – Global Inflation-linked (USD) Rapport annuel et états financiers révisés au 31 mai 2022
| Catégorie | Q-acc |
| --- | --- |
| Nombre d’actions en circulation au début de l’exercice | 68 812.5630 |
| Nombre d’actions émises | 78 306.5290 |
| Nombre d’actions rachetées | -32 554.9690 |
| Nombre d’actions en circulation à la fin de l’exercice | 114 564.1230 |
| Catégorie | (CHF hedged) Q-acc |
| Nombre d’actions en circulation au début de l’exercice | 32 073.6280 |
| Nombre d’actions émises | 15 024.1550 |
| Nombre d’actions rachetées | -4 100.0760 |
| Nombre d’actions en circulation à la fin de l’exercice | 42 997.7070 |
| Catégorie | (EUR hedged) Q-acc |
| Nombre d’actions en circulation au début de l’exercice | 463 677.1210 |
| Nombre d’actions émises | 271 992.3300 |
| Nombre d’actions rachetées | -308 239.5630 |
| Nombre d’actions en circulation à la fin de l’exercice | 427 429.8880 |

| Distribution annuelle 1 |  |
| --- | --- |
| UBS (Lux) Bond SICAV – Global Inflation-linked (USD) | Date de détachement | Date de versement | Devise | Montant par action |
| (CHF hedged) I-A1-dist | 2.8.2021 | 5.8.2021 | CHF | 1.17 |
| 1  Voir note 5 |  |  |  |  |

UBS (Lux) Bond SICAV – Global Inflation-linked (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 | 9 300.00 | 1 804 053.32 | 0.66 |
| BRL	BRAZIL, FEDERATIVE REPUBLIC OF 10.00000% 20-01.01.31 | 8 500.00 | 1 566 748.99 | 0.57 |
| Total BRL |  | 3 370 802.31 | 1.23 |
| EUR |  |  |  |
| EUR	ALTICE FRANCE HOLDING SA-REG-S 8.00000% 19-15.05.27 | 650 000.00 | 652 792.96 | 0.24 |
| EUR	ALTICE FRANCE-REG-S 5.87500% 18-01.02.27 | 200 000.00 | 204 345.22 | 0.08 |
| EUR	ARDAGH PACKAGING FINANCE/MP-REG-S 2.12500% 19-15.08.26 | 100 000.00 | 93 904.08 | 0.03 |
| EUR	BULGARIAN ENERGY HOLDING EAD-REG-S 2.45000% 21-22.07.28 | 410 000.00 | 363 448.35 | 0.13 |
| EUR	CHINA, PEOPLE’S REPUBLIC OF-REG-S 1.00000% 19-12.11.39 | 490 000.00 | 419 930.00 | 0.15 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 2.87500% 21-11.02.25 | 500 000.00 | 518 886.73 | 0.19 |
| EUR	DKT FINANCE APS-REG-S 7.00000% 18-17.06.23 | 800 000.00 | 848 430.00 | 0.31 |
| EUR	GOLDMAN SACHS GROUP INC-REG-S 3.37500% 20-27.03.25 | 600 000.00 | 666 628.16 | 0.24 |
| EUR	GTC AURORA LUXEMBOURG SA-REG-S 2.25000% 21-23.06.26 | 280 000.00 | 245 239.12 | 0.09 |
| EUR	JAGUAR LAND ROVER AUTOMOTIVE PLC-REG-S 4.50000% 21-15.07.28 | 295 000.00 | 256 757.65 | 0.09 |
| EUR	LOXAM SAS-REG-S 3.75000% 19-15.07.26 | 100 000.00 | 100 426.69 | 0.04 |
| EUR	MACIF-REG-S-SUB 0.62500% 21-21.06.27 | 200 000.00 | 188 950.07 | 0.07 |
| EUR	SOFTBANK GROUP CORP-REG-S 5.00000% 18-15.04.28 | 100 000.00 | 96 842.74 | 0.04 |
| EUR	TELE COLUMBUS AG-REG-S 3.87500% 18-02.05.25 | 300 000.00 | 284 819.88 | 0.10 |
| EUR	TRITAX EUROBOX PLC-REG-S 0.95000% 21-02.06.26 | 160 000.00 | 156 682.91 | 0.06 |
| EUR	UKRAINE, GOVERNMENT OF-REG-S 4.37500% 20-27.01.30 | 400 000.00 | 153 188.75 | 0.06 |
| Total EUR |  | 5 251 273.31 | 1.92 |
| GBP |  |  |  |
| GBP	CPUK FINANCE LTD-REG-S 4.50000% 21-28.08.27 | 110 000.00 | 128 014.82 | 0.05 |
| Total GBP |  | 128 014.82 | 0.05 |
| USD |  |  |  |
| USD	AERCAP IRELAND CAPITAL DAC / AERCAP GLO 3.00000% 21-29.10.28 | 625 000.00 | 548 392.79 | 0.20 |
| USD	APT PIPELINES LTD-REG-S 4.20000% 15-23.03.25 | 100 000.00 | 100 453.65 | 0.04 |
| USD	ARGENTINA, REPUBLIC OF STEP-UP 20-09.07.35 | 291 000.00 | 79 152.00 | 0.03 |
| USD	ARGENTINA, REPUBLIC OF STEP-UP 20-09.01.38 | 140 203.00 | 48 790.64 | 0.02 |
| USD	ARGENTINA, REPUBLIC OF 1.00000% 20-09.07.29 | 20 992.00 | 6 213.63 | 0.00 |
| USD	AT&T INC 4.35000% 19-01.03.29 | 100 000.00 | 101 216.75 | 0.04 |
| USD	AT&T INC 4.75000% 15-15.05.46 | 75 000.00 | 73 902.66 | 0.03 |
| USD	CHILE, REPUBLIC OF 3.86000% 17-21.06.47 | 200 000.00 | 176 350.00 | 0.06 |
| USD	CNOOC PETROLEUM NORTH AMERICA ULC 6.40000% 07-15.05.37 | 200 000.00 | 221 985.48 | 0.08 |
| USD	COSTA RICA, REPUBLIC OF-REG-S 7.15800% 15-12.03.45 | 500 000.00 | 469 781.25 | 0.17 |
| USD	ECUADOR GOVT INTERNATIONAL BD-REG-S STEP-UP/DOWN 20-31.07.35 | 99 060.00 | 63 262.19 | 0.02 |
| USD	ECUADOR, REPUBLIC OF-REG-S STEP-UP 0.50000% 20-31.07.30 | 37 800.00 | 31 274.78 | 0.01 |
| USD	ECUADOR, REPUBLIC OF-REG-S STEP-UP 20-31.07.40 | 45 400.00 | 24 751.51 | 0.01 |
| USD	ENERGY TRANSFER LP 6.00000% 18-15.06.48 | 60 000.00 | 59 320.26 | 0.02 |
| USD	ENLINK MIDSTREAM PARTNERS LP 4.40000% 14-01.04.24 | 25 000.00 | 24 968.75 | 0.01 |
| USD	EQT CORP 3.90000% 17-01.10.27 | 360 000.00 | 347 000.40 | 0.13 |
| USD	EVERSOURCE ENERGY 2.90000% 22-01.03.27 | 470 000.00 | 451 559.81 | 0.16 |
| USD	FLOWSERVE CORP 3.50000% 20-01.10.30 | 300 000.00 | 267 253.47 | 0.10 |
| USD	INDONESIA, REPUBLIC OF-REG-S 5.25000% 12-17.01.42 | 300 000.00 | 308 587.50 | 0.11 |
| USD	MEITUAN DIANPING-REG-S 3.05000% 20-28.10.30 | 700 000.00 | 532 131.25 | 0.19 |
| USD	ORBIA ADVANCE CORP SAB DE CV-REG-S 1.87500% 21-11.05.26 | 600 000.00 | 538 425.00 | 0.20 |
| USD	PEGASUS HAVA TASIMACILIGI AS-REG-S 9.25000% 21-30.04.26 | 260 000.00 | 246 675.00 | 0.09 |
| USD	PETROLEOS MEXICANOS 6.84000% 20-23.01.30 | 550 000.00 | 492 250.00 | 0.18 |
| USD	RELIANCE INDUSTRIES LTD-REG-S 3.62500% 22-12.01.52 | 945 000.00 | 708 608.25 | 0.26 |
| USD	SANTOS FINANCE LTD-REG-S 3.64900% 21-29.04.31 | 300 000.00 | 261 257.34 | 0.10 |
| USD	SHIMAO PROPERTY HOLDINGS LTD-REG-S 3.45000% 21-11.01.31 | 200 000.00 | 23 700.00 | 0.01 |
| USD	SHIMAO PROPERTY HOLDINGS LTD-REG-S 5.20000% 21-16.01.27 | 250 000.00 | 32 500.00 | 0.01 |
| USD	SPRINT CORP 7.87500% 14-15.09.23 | 200 000.00 | 209 500.00 | 0.08 |
| USD	TURKEY, REPUBLIC OF 6.87500% 06-17.03.36 | 450 000.00 | 368 803.12 | 0.13 |
| USD	UBS AG STAMFORD-SUB 7.62500% 12-17.08.22 | 2 400 000.00 | 2 423 221.20 | 0.89 |
| USD	UKRAINE, GOVERNMENT OF-REG-S 7.37500% 17-25.09.32 | 400 000.00 | 144 600.00 | 0.05 |
| USD	URUGUAY, REPUBLIC OF 4.12500% 12-20.11.45 | 250 000.00 | 242 390.62 | 0.09 |
| USD	VEB FINANCE PLC-REG-S LPN 5.94200% 13-21.11.23 | 200 000.00 | 4 000.00 | 0.00 |
| USD	VERIZON COMMUNICATIONS INC 2.10000% 21-22.03.28 | 555 000.00 | 506 068.03 | 0.18 |
| USD	VMWARE INC 1.00000% 21-15.08.24 | 220 000.00 | 208 287.29 | 0.08 |
| USD	YPF SA-REG-S 6.95000% 17-21.07.27 | 160 000.00 | 106 980.00 | 0.04 |
| USD	YPF SA-REG-S 7.00000% 17-15.12.47 | 170 000.00 | 93 075.00 | 0.03 |
| Total USD |  | 10 546 689.62 | 3.85 |
| Total des Billets, taux fixe |  | 19 296 780.06 | 7.05 |
| Billets, coupon zéro |  |  |  |
| USD |  |  |  |
| USD	ECUADOR, REPUBLIC OF-REG-S 0.00000% 20-31.07.30 | 12 974.00 | 7 121.92 | 0.00 |
| Total USD |  | 7 121.92 | 0.00 |
| Total des Billets, coupon zéro |  | 7 121.92 | 0.00 |
| Billets, taux variable |  |  |  |
| EUR |  |  |  |
| EUR	BARCLAYS PLC-REG-S 0.577%VAR 21-09.08.29 | 550 000.00 | 502 361.29 | 0.18 |
| EUR	BPCE SA-REG-S-SUB 1.500%/VAR 21-13.01.42 | 600 000.00 | 575 049.14 | 0.21 |
| EUR	BRITISH AMERICAN TOBACCO PLC-REG-S -SUB 3.750%/VAR 21-PRP | 480 000.00 | 415 846.91 | 0.15 |
| EUR	CREDIT SUISSE GROUP-REG-S 2.125%/VAR 22-13.10.26 | 655 000.00 | 678 777.51 | 0.25 |
| EUR	CREDIT SUISSE GROUP-REG-S 2.875%/VAR 22-02.04.32 | 405 000.00 | 398 827.57 | 0.14 |
| EUR	DEUTSCHE BANK AG-REG-S-SUB 4.500%/VAR 21-PRP | 400 000.00 | 376 506.67 | 0.14 |

UBS (Lux) Bond SICAV – Global Inflation-linked (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 | ITALY, REPUBLIC OF-144A-REG-S 2.350%/CPI LINKED 14-15.09.24 | 2 620 000.00 | 3 551 122.06 | 1.30 |
| EUR | RAKUTEN GROUP INC-REG-S-SUB 4.250%VAR 21-PRP | 405 000.00 | 347 904.52 | 0.13 |
| EUR | VOLKSWAGEN INTERNATIONAL FIN-REG-S-SUB 4.375%/VAR 22-PRP | 500 000.00 | 484 641.53 | 0.18 |
| EUR | WINTERSHALL DEA FINANCE 2BV-REG-S-SUB 2.498%/VAR 21-PRP | 200 000.00 | 174 779.16 | 0.06 |
| EUR | WINTERSHALL DEA FINANCE 2BV-REG-S-SUB 3.000%/VAR 21-PRP | 100 000.00 | 85 207.22 | 0.03 |
| Total EUR |  |  | 7 591 023.58 | 2.77 |
| USD |  |  |  |  |
| USD | ALLIANZ SE-REG-S-SUB 3.500%/VAR 20-PRP | 200 000.00 | 175 242.02 | 0.06 |
| USD | PRUDENTIAL PLC-SUB-REG-S 2.950%/VAR 21-03.11.33 | 455 000.00 | 401 243.70 | 0.15 |
| USD | VODAFONE GROUP PLC-SUB 3.250%/VAR 21-04.06.81 | 200 000.00 | 179 743.36 | 0.07 |
| Total USD |  |  | 756 229.08 | 0.28 |
| Total des Billets, taux variable |  | 8 347 252.66 | 3.05 |
| Medium-Term Notes, taux fixe |  |  |  |
| AUD |  |  |  |
| AUD	CORPORACION ANDINA DE FOMENTO 4.50000% 15-05.06.25 | 450 000.00 | 322 071.50 | 0.12 |
| Total AUD |  | 322 071.50 | 0.12 |
| EUR |  |  |  |
| EUR	AEROPORTI DI ROMA SPA-REG-S 1.75000% 21-30.07.31 | 215 000.00 | 186 272.13 | 0.07 |
| EUR	AROUNDTOWN SA-REG-S 2.00000% 18-02.11.26 | 200 000.00 | 201 825.65 | 0.07 |
| EUR	ASTRAZENECA PLC-REG-S 0.37500% 21-03.06.29 | 205 000.00 | 192 968.89 | 0.07 |
| EUR	BANCO DE SABADELL SA-REG-S-SUB 2.50000% 21-15.04.31 | 600 000.00 | 569 637.19 | 0.21 |
| EUR	BAT INTERNATIONAL FINANCE PLC-REG-S 2.75000% 13-25.03.25 | 750 000.00 | 811 034.80 | 0.29 |
| EUR	CELLNEX FINANCE CO SA-REG-S 1.50000% 21-08.06.28 | 600 000.00 | 540 487.18 | 0.20 |
| EUR	CEZ AS-REG-S 2.37500% 22-06.04.27 | 215 000.00 | 223 895.16 | 0.08 |
| EUR	CTP NV-REG-S 0.87500% 22-20.01.26 | 990 000.00 | 921 142.57 | 0.34 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 2.00000% 21-14.07.24 | 200 000.00 | 209 605.06 | 0.08 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 2.87500% 21-16.05.27 | 1 000 000.00 | 943 565.57 | 0.34 |
| EUR	ELIS SA-REG-S 4.12500% 22-24.05.27 | 200 000.00 | 215 312.68 | 0.08 |
| EUR	ORANO SA 4.87500% 09-23.09.24 | 50 000.00 | 55 540.99 | 0.02 |
| EUR	P3 GROUP SARL-REG-S 0.87500% 22-26.01.26 | 580 000.00 | 549 231.59 | 0.20 |
| EUR	PPF ARENA 1 BV-REG-S 2.12500% 19-31.01.25 | 900 000.00 | 911 290.95 | 0.33 |
| EUR	REDEXIS GAS FINANCE BV-REG-S 1.87500% 15-27.04.27 | 100 000.00 | 102 034.85 | 0.04 |
| EUR	ROMANIA-REG-S 4.62500% 19-03.04.49 | 500 000.00 | 457 055.51 | 0.17 |
| EUR	RWE AG-REG-S 2.75000% 22-24.05.30 | 600 000.00 | 639 369.13 | 0.23 |
| EUR	TDC NET A/S-REG-S 5.05600% 22-31.05.28 | 295 000.00 | 319 532.88 | 0.12 |
| EUR	TRATON FINANCE LUXEMBOURG SA-REG-S 1.25000% 21-24.03.33 | 200 000.00 | 167 069.58 | 0.06 |
| EUR	VONOVIA SE-REG-S 1.62500% 21-01.09.51 | 200 000.00 | 130 227.58 | 0.05 |
| EUR	ZF FINANCE GMBH-REG-S 3.00000% 20-21.09.25 | 400 000.00 | 402 118.11 | 0.15 |
| Total EUR |  | 8 749 218.05 | 3.20 |
| GBP |  |  |  |
| GBP	AA BOND CO LTD-REG-S 3.25000% 21-31.07.28 | 100 000.00 | 112 436.91 | 0.04 |
| GBP	AUTOSTRADE PER L’ITALIA SPA 6.25000% 04-09.06.22 | 300 000.00 | 378 468.09 | 0.14 |
| GBP	PHOENIX GROUP HOLDINGS PLC-REG-S-SUB 4.12500% 17-20.07.22 | 100 000.00 | 126 209.72 | 0.05 |
| Total GBP |  | 617 114.72 | 0.23 |
| USD |  |  |  |
| USD	EGYPT, REPUBLIC OF-REG-S 8.70020% 19-01.03.49 | 450 000.00 | 329 625.00 | 0.12 |
| USD	GC TREASURY CENTER CO LTD-REG-S 4.40000% 22-30.03.32 | 500 000.00 | 474 710.00 | 0.17 |
| USD	GC TREASURY CENTER CO LTD-REG-S 5.20000% 22-30.03.52 | 200 000.00 | 183 296.00 | 0.07 |
| USD	INDIAN RAILWAY FINANCE CORP LTD-REG-S 2.80000% 21-10.02.31 | 410 000.00 | 339 951.50 | 0.12 |
| USD	MEXICO, UNITED STATES OF 4.75000% 12-08.03.44 | 150 000.00 | 134 925.00 | 0.05 |
| USD	MONGOLIA,GOVERNMENT OF-REG-S 8.75000% 17-09.03.24 | 600 000.00 | 615 112.50 | 0.22 |
| USD	MORGAN STANLEY-SUB 4.35000% 14-08.09.26 | 150 000.00 | 151 812.40 | 0.06 |
| USD	PERTAMINA PERSERO PT-REG-S 4.70000% 19-30.07.49 | 200 000.00 | 179 975.00 | 0.07 |
| USD	QTEL INTERNATIONAL FINANCE LTD-REG-S 2.62500% 21-08.04.31 | 200 000.00 | 176 500.00 | 0.06 |
| USD	REC LTD-REG-S 2.25000% 21-01.09.26 | 480 000.00 | 433 590.00 | 0.16 |
| USD	ROMANIA-REG-S 6.12500% 14-22.01.44 | 250 000.00 | 253 406.25 | 0.09 |
| USD	SAUDI ARABIAN OIL CO-REG-S 3.50000% 19-16.04.29 | 200 000.00 | 195 480.00 | 0.07 |
| Total USD |  | 3 468 383.65 | 1.26 |
| Total des Medium-Term Notes, taux fixe |  | 13 156 787.92 | 4.81 |
| Medium-Term Notes, coupon zéro |  |  |  |
| EUR |  |  |  |
| EUR	VOLKSWAGEN LEASING GMBH-REG-S 0.00000% 21-19.07.24 | 300 000.00 | 309 125.89 | 0.11 |
| Total EUR |  | 309 125.89 | 0.11 |
| Total des Medium-Term Notes, coupon zéro |  | 309 125.89 | 0.11 |
| Medium-Term Notes, taux variable |  |  |  |
| EUR |  |  |  |
| EUR	AXA SA-REG-S-SUB 3.250%/VAR 18-28.05.49 | 100 000.00 | 103 266.57 | 0.04 |
| EUR	BANCO DE SABADELL SA-REG-S 2.625%/VAR 22-24.03.26 | 200 000.00 | 208 954.17 | 0.08 |
| EUR	BANK OF IRELAND GROUP PLC-REG-S 1.875%/VAR 22-05.06.26 | 260 000.00 | 271 670.50 | 0.10 |
| EUR	CREDIT SUISSE GROUP AG-REG-S 0.650%/VAR 20-14.01.28 | 150 000.00 | 141 110.95 | 0.05 |
| EUR	DEUTSCHE BANK AG-REG-S 1.000%/VAR 20-19.11.25 | 200 000.00 | 206 058.79 | 0.07 |
| EUR	DEUTSCHE BANK AG-REG-S 1.750%/VAR 20-19.11.30 | 100 000.00 | 93 827.46 | 0.03 |
| EUR	DEUTSCHE BANK AG-REG-S 4.000%/VAR 22-24.06.32 | 300 000.00 | 308 314.32 | 0.11 |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S-SUB 2.625%/VAR 18-PRP | 100 000.00 | 106 742.56 | 0.04 |
| EUR	NATWEST GROUP PLC-REG-S 2.000%/VAR 18-04.03.25 | 300 000.00 | 321 891.29 | 0.12 |
| EUR	NATWEST GROUP PLC-REG-S-SUB 1.043%/VAR 21-14.09.32 | 330 000.00 | 303 935.20 | 0.11 |
| EUR	TOTAL SE-REG-S-SUB 2.625%/VAR 15-PRP | 700 000.00 | 733 212.78 | 0.27 |
| EUR	VIRGIN MONEY UK PLC-REG-S 0.000%/VAR 21-27.05.24 | 260 000.00 | 275 106.94 | 0.10 |
| Total EUR |  | 3 074 091.53 | 1.12 |

UBS (Lux) Bond SICAV – Global Inflation-linked (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 | WELLS FARGO & CO 3.526%/VAR 22-24.03.28 | 775 000.00 | 754 510.62 | 0.28 |
| Total USD |  |  | 754 510.62 | 0.28 |
| Total des Medium-Term Notes, taux variable |  | 3 828 602.15 | 1.40 |
| Obligations, taux fixe |  |  |  |
| EUR |  |  |  |
| EUR	ADLER REAL ESTATE AG-REG-S 1.87500% 18-27.04.23 | 200 000.00 | 171 400.00 | 0.06 |
| EUR	ADO PROPERTIES SA-REG-S 1.50000% 17-26.07.24 | 200 000.00 | 129 621.25 | 0.05 |
| EUR	AUTOSTRADE PER L’ITALIA SPA REG-S 2.00000% 21-15.01.30 | 940 000.00 | 854 418.29 | 0.31 |
| EUR	FINNAIR OYJ-REG-S 4.25000% 21-19.05.25 | 305 000.00 | 285 073.02 | 0.10 |
| EUR	INEOS QUATTRO FINANCE 2 PLC-REG-S 2.50000% 21-15.01.26 | 120 000.00 | 118 753.46 | 0.04 |
| EUR	INTRUM JUSTITIA AB-REG-S 3.12500% 17-15.07.24 | 200 000.00 | 206 035.66 | 0.08 |
| EUR	MAPFRE SA-REG-S-SUB 2.87500% 22-13.04.30 | 300 000.00 | 299 457.22 | 0.11 |
| EUR	MPT OPERATING PARTNERSHIP LP/FIN CORP 3.32500% 17-24.03.25 | 100 000.00 | 104 746.61 | 0.04 |
| EUR	VERISURE HOLDING AB-REG-S 3.25000% 21-15.02.27 | 145 000.00 | 137 436.47 | 0.05 |
| EUR	WINTERSHALL DEA FINANCE BV-REG-S 0.84000% 19-25.09.25 | 600 000.00 | 597 821.78 | 0.22 |
| Total EUR |  | 2 904 763.76 | 1.06 |
| GBP |  |  |  |
| GBP	BELLIS ACQUISITION CO PLC-REG-S 3.25000% 21-16.02.26 | 180 000.00 | 191 712.50 | 0.07 |
| GBP	BERKELEY GROUP PLC/THE-REG-S 2.50000% 21-11.08.31 | 185 000.00 | 185 092.36 | 0.07 |
| GBP	PREMIER FOODS FINANCE PLC-REG-S 3.50000% 21-15.10.26 | 260 000.00 | 297 374.33 | 0.11 |
| GBP	SCOTTISH WIDOWS PLC-REG-S-SUB 5.50000% 13-16.06.23 | 100 000.00 | 128 707.70 | 0.05 |
| GBP	VERY GROUP FUNDING PLC/THE-REG-S 6.50000% 21-01.08.26 | 350 000.00 | 369 778.32 | 0.13 |
| Total GBP |  | 1 172 665.21 | 0.43 |
| MXN |  |  |  |
| MXN	MEXICO, UNITED MEXICAN STATES 7.75000% 11-13.11.42 | 893 200.00 | 4 073 523.05 | 1.49 |
| Total MXN |  | 4 073 523.05 | 1.49 |
| USD |  |  |  |
| USD	BRAZIL, FEDERATIVE REPUBLIC OF 7.12500% 06-20.01.37 | 420 000.00 | 454 203.75 | 0.17 |
| USD	COLOMBIA, REPUBLIC OF 6.12500% 09-18.01.41 | 530 000.00 | 480 080.63 | 0.17 |
| USD	COUNTRY GARDEN HOLDINGS CO LTD-REG-S 2.70000% 21-12.07.26 | 200 000.00 | 112 000.00 | 0.04 |
| USD	HCA INC 5.37500% 15-01.02.25 | 200 000.00 | 206 738.00 | 0.08 |
| USD	KAZAKHSTAN, REPUBLIC OF-REG-S 4.87500% 14-14-10.44 | 300 000.00 | 270 806.25 | 0.10 |
| USD	MALAYSIA WAKALA SUKUK BHD-REG-S 3.07500% 21-28.04.51 | 250 000.00 | 211 921.88 | 0.08 |
| USD	MEXICO CITY AIRPORT TRUST-REG-S 5.50000% 17-31.07.47 | 201 000.00 | 151 755.00 | 0.05 |
| USD	PACIFIC GAS AND ELECTRIC CO 1.70000% 21-15.11.23 | 820 000.00 | 796 892.83 | 0.29 |
| USD	PERU, REPUBLIC OF 2.78300% 20-23.01.31 | 500 000.00 | 441 656.25 | 0.16 |
| USD	PERU, REPUBLIC OF 8.75000% 03-21.11.33 | 100 000.00 | 132 331.25 | 0.05 |
| Total USD |  | 3 258 385.84 | 1.19 |
| Total des Obligations, taux fixe |  | 11 409 337.86 | 4.17 |
| Obligations, taux variable |  |  |  |
| AUD |  |  |  |
| AUD	AUSTRALIA 2.500%/CPI LINKED 10-20.09.30 | 2 350 000.00 | 2 432 283.14 | 0.89 |
| Total AUD |  | 2 432 283.14 | 0.89 |
| DKK |  |  |  |
| DKK	DENMARK, KINGDOM OF 0.100%/CPI LINKED 18-15.11.30 | 3 750 000.00 | 638 837.33 | 0.23 |
| Total DKK |  | 638 837.33 | 0.23 |
| EUR |  |  |  |
| EUR	ABANCA CORP BANCARIA SA-REG-S-SUB 6.125%/VAR 19-18.01.29 | 400 000.00 | 439 212.50 | 0.16 |
| EUR	BANCO DE SABADELL SA-REG-S-SUB 5.000%/VAR 21-PRP | 200 000.00 | 182 234.20 | 0.07 |
| EUR	ELM BV-REG-S-SUB 2.600%/VAR 15-PRP | 100 000.00 | 103 777.34 | 0.04 |
| EUR	FRANCE, REPUBLIC OF 1.850%/CPTFEMU LINKED 10-25.07.27 | 1 600 000.00 | 2 494 011.87 | 0.91 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.700%/CPI LINKED 14-25.07.30 | 3 000 000.00 | 4 249 851.41 | 1.55 |
| EUR	FRANCE, REPUBLIC OF-OAT 0.100%/CPI LINKED 15-01.03.25 | 2 000 000.00 | 2 532 693.97 | 0.93 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.100%/CPI LINKED 17-01.03.28 | 1 400 000.00 | 1 809 263.37 | 0.66 |
| EUR	FRANCE, REPUBLIC OF-REG-S 0.100%/CPTFEMU LINKED 20-01.03.26 | 1 620 000.00 | 2 047 589.76 | 0.75 |
| EUR	FRANCE,REPUBLIC OF-OAT 0.100%/INFLATION IDX LKD 19-01.03.29 | 1 630 000.00 | 2 097 105.02 | 0.77 |
| EUR	ITALY, REPUBLIC OF 3.100%/CPI LINKED 11-15.09.26 | 2 770 000.00 | 4 189 524.91 | 1.53 |
| EUR	ITALY, REPUBLIC OF-144A-REG-S 1.300%/CPI LINKED 17-15.05.28 | 1 000 000.00 | 1 307 121.31 | 0.48 |
| EUR	ITALY, REPUBLIC OF-144A-REG-S 0.400%/CPI LINKED 19-15.05.30 | 5 500 000.00 | 6 391 200.96 | 2.33 |
| EUR	ITALY, REPUBLIC OF-REG-S 0.650%/CPI LINKED 20-15.05.26 | 1 500 000.00 | 1 832 543.20 | 0.67 |
| EUR	RABOBANK NEDERLAND NV-REG-S-SUB 3.250%/VAR 19-PRP | 200 000.00 | 190 468.25 | 0.07 |
| EUR	SES SA-REG-S-SUB 2.875%/VAR 21-PRP | 780 000.00 | 750 973.03 | 0.27 |
| EUR	SPAIN GOVERNMENT-144A-REG-S 1.000%/CPI LINKED 15-30.11.30 | 2 333 000.00 | 3 176 525.22 | 1.16 |
| EUR	SPAIN GOVERNMENT-144A-REG-S 0.650%/CPI LINKED 17-30.11.27 | 4 600 000.00 | 6 106 596.06 | 2.23 |
| Total EUR |  | 39 900 692.38 | 14.58 |
| GBP |  |  |  |
| GBP	M&G PLC-REG-S-SUB 5.625%/VAR 18-20.10.51 | 175 000.00 | 225 170.43 | 0.08 |
| GBP	UNITED KINGDOM OF GB & NI 4.125%/RPI LINKED 92-22.07.30 | 730 000.00 | 3 409 286.81 | 1.25 |
| GBP	UNITED KINGDOM OF GB & NI-REG-S 0.125%/RPI LINKD 11-22.03.29 | 920 000.00 | 1 872 123.22 | 0.68 |
| GBP	UNITED KINGDOM OF GB & NI-REG-S 0.125%/RPI LINKD 15-22.03.26 | 1 230 000.00 | 2 202 728.40 | 0.80 |
| GBP	UNITED KINGDOM OF GB & NI-REG-S 0.125%/RPI LINKD 18-10.08.28 | 1 170 000.00 | 2 016 594.16 | 0.74 |
| Total GBP |  | 9 725 903.02 | 3.55 |
| JPY |  |  |  |
| JPY	JAPAN 0.005%/CPI LINKED 21-10.03.31 | 230 000 000.00 | 1 931 422.36 | 0.71 |
| JPY	JAPAN 0.100%/CPI LINKED 16-10.03.26 | 400 000 000.00 | 3 363 722.86 | 1.23 |
| JPY	JAPAN 0.100%/CPI LINKED 19-10.03.29 | 450 000 000.00 | 3 763 050.67 | 1.37 |
| JPY	JAPAN GOVT 0.100%/CPI LINKED 18-10.03.28 | 170 000 000.00 | 1 428 649.86 | 0.52 |
| Total JPY |  | 10 486 845.75 | 3.83 |

UBS (Lux) Bond SICAV – Global Inflation-linked (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) |  |
| NZD |  |  |  |  |
| NZD | NEW ZEALAND-REG-S 2.500%/CPI LINKED 14-20.09.35 | 4 786 000.00 | 3 879 416.54 | 1.42 |
| Total NZD |  |  | 3 879 416.54 | 1.42 |
| SEK |  |  |  |  |
| SEK | SWEDEN, KINGDOM OF 0.125%/CPI LINKED 17-01.12.27 | 24 000 000.00 | 3 004 123.25 | 1.10 |
| Total SEK |  |  | 3 004 123.25 | 1.10 |
| USD |  |  |  |  |
| USD | CREDIT SUISSE GROUP AG-REG-S-SUB 7.500%/VAR 18-PRP | 650 000.00 | 642 083.39 | 0.24 |
| USD | QBE INSURANCE GROUP LTD-REG-S-SUB 6.750%/VAR 14-02.12.44 | 250 000.00 | 256 709.20 | 0.09 |
| USD | SCOR SE-REG-S-SUB 5.250%/VAR 18-PRP | 200 000.00 | 173 750.00 | 0.06 |
| USD | WESTPAC BANKING CORP-SUB 5.000%/VAR 17-PRP | 180 000.00 | 167 897.84 | 0.06 |
| Total USD |  |  | 1 240 440.43 | 0.45 |
| Total des Obligations, taux variable |  | 71 308 541.84 | 26.05 |
| Bons du Trésor à moyen terme, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 21-15.04.26 | 4 700 000.00 | 5 243 183.09 | 1.92 |
| USD	AMERICA, UNITED STATES OF 0.125%INFLATION LINKED 21-15.07.31 | 5 500 000.00 | 5 879 514.46 | 2.15 |
| Total USD |  | 11 122 697.55 | 4.07 |
| Total des Bons du Trésor à moyen terme, taux fixe |  | 11 122 697.55 | 4.07 |
| Bons du Trésor à moyen terme, taux variable |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 2.000%/CPI LINKED 06-15.01.26 | 3 235 000.00 | 5 103 045.42 | 1.87 |
| USD	AMERICA, UNITED STATES OF 2.375%/CPI LINKED 07-15.01.27 | 900 000.00 | 1 437 355.96 | 0.53 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 17-15.07.27 | 6 000 000.00 | 7 245 297.04 | 2.65 |
| USD	AMERICA, UNITED STATES OF 0.500%/CPI LINKED 18-15.01.28 | 4 900 000.00 | 5 869 195.88 | 2.15 |
| USD	AMERICA, UNITED STATES OF 0.875%/CPI LINKED 19-15.01.29 | 5 500 000.00 | 6 580 423.32 | 2.40 |
| USD	AMERICA, UNITED STATES OF 0.250%/CPI INDEX 19-15.07.29 | 6 000 000.00 | 6 824 429.56 | 2.49 |
| USD	AMERICA, UNITED STATES OF 0.625%/CPI LINKED 16-15.01.26 | 9 500 000.00 | 11 937 539.51 | 4.36 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 16-15.07.26 | 8 433 000.00 | 10 323 410.79 | 3.77 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 17-15.01.27 | 4 850 000.00 | 5 922 644.27 | 2.16 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 15-15.07.25 | 3 200 000.00 | 4 015 942.70 | 1.47 |
| USD	AMERICA, UNITED STATES OF 0.750%/CPI LINKED 18-15.07.28 | 8 000 000.00 | 9 588 095.36 | 3.50 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 20-15.01.30 | 6 800 000.00 | 7 567 264.71 | 2.77 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 20-15.07.30 | 7 000 000.00 | 7 834 732.28 | 2.86 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 21-15.01.31 | 6 780 000.00 | 7 451 247.51 | 2.72 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI INDEX 21-15.10.26 | 750 000.00 | 804 324.64 | 0.29 |
| Total USD |  | 98 504 948.95 | 35.99 |
| Total des Bons du Trésor à moyen terme, taux variable |  | 98 504 948.95 | 35.99 |
| Total des Titres et instruments du marché monétaire négociés sur une bourse officielle |  | 237 291 196.80 | 86.70 |
| Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  |  |  |
| Titres adossés à des hypothèques, taux fixe |  |  |  |
| USD |  |  |  |
| USD	MSBAM LYNCH TRUST-SUB 3.99400% 16-01.12.49 | 150 000.00 | 146 079.42 | 0.05 |
| Total USD |  | 146 079.42 | 0.05 |
| Total des Titres adossés à des hypothèques, taux fixe |  | 146 079.42 | 0.05 |
| Titres adossés à des hypothèques, taux variable |  |  |  |
| USD |  |  |  |
| USD	AVENTURA MALL TRUST-144A FLR 18-01.07.40 | 400 000.00 | 391 384.96 | 0.14 |
| USD	BAMLL COMMERCIAL MORT SET-144A 1M LIBOR+135BP 18-15.09.34 | 350 000.00 | 335 969.51 | 0.12 |
| USD	BANK 2017-BNK9 VAR 17-01.11.54 | 300 000.00 | 291 195.15 | 0.11 |
| USD	BBCMS TRUST CBM-144A 1M LIBOR+119.1098BP 18-15.07.37 | 350 000.00 | 338 910.74 | 0.12 |
| USD	BENCHMARK MORTGAGE TRUST VAR 18-01.02.51 | 150 000.00 | 145 820.26 | 0.05 |
| USD	CAMB COMM MORTGAGE TRUST-144A-SUB 1M LIBOR+145BP 19-15.12.37 | 125 000.00 | 121 719.78 | 0.05 |
| USD	CAMB COMM MORTGAGE TRUST-144A-SUB 1M LIBOR+175BP 19-15.12.37 | 270 000.00 | 262 211.74 | 0.10 |
| USD	CORE TRUST CORE-144A 1M LIBOR+110BP 19-15.12.31 | 190 000.00 | 34 691.18 | 0.01 |
| USD	GS MORTGAGE SECURITIES TRUST-144A VAR 17-01.01.43 | 1 225 000.00 | 1 164 501.05 | 0.43 |
| USD	JPMCC COMMERCIAL MORTGAGE SEC TRUST VAR 17-01.09.50 | 550 000.00 | 504 030.73 | 0.18 |
| Total USD |  | 3 590 435.10 | 1.31 |
| Total des Titres adossés à des hypothèques, taux variable |  | 3 590 435.10 | 1.31 |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AVOLON HOLDINGS FUNDING LTD-144A 2.12500% 21-21.02.26 | 105 000.00 | 94 038.00 | 0.03 |
| USD	BROADCOM INC-144A 2.60000% 21-15.02.33 | 465 000.00 | 373 535.81 | 0.14 |
| USD	CCO HOLDINGS LLC/CAPITAL CORP-144A 5.50000% 16-01.05.26 | 80 000.00 | 80 072.00 | 0.03 |
| USD	MPLX LP 4.25000% 20-01.12.27 | 40 000.00 | 39 605.06 | 0.01 |
| USD	PHILLIPS 66 CO-144A 4.68000% 22-15.02.45 | 75 000.00 | 72 435.43 | 0.03 |
| USD	TRITON CONTAINER INTERNATIONAL LTD-144A 2.05000% 21-15.04.26 | 170 000.00 | 156 094.00 | 0.06 |
| Total USD |  | 815 780.30 | 0.30 |
| Total des Billets, taux fixe |  | 815 780.30 | 0.30 |

UBS (Lux) Bond SICAV – Global Inflation-linked (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) |  |
| Medium-Term Notes, taux fixe |  |  |  |
| AUD |  |  |  |
| AUD	AIR NEW ZEALAND LTD 5.70000% 22-25.05.26 | 680 000.00 | 489 061.40 | 0.18 |
| Total AUD |  | 489 061.40 | 0.18 |
| Total des Medium-Term Notes, taux fixe |  | 489 061.40 | 0.18 |
| Obligations, taux fixe |  |  |  |
| RUB |  |  |  |
| RUB	RUSSIA, FEDERATION OF 7.65000% 19-10.04.30* | 187 000 000.00 | 185 515.87 | 0.07 |
| Total RUB |  | 185 515.87 | 0.07 |
| Total des Obligations, taux fixe |  | 185 515.87 | 0.07 |
| Obligations, taux variable |  |  |  |
| NZD |  |  |  |
| NZD	NEW ZEALAND 2.500%/CPI LINKED 17-20.09.40 | 7 300 000.00 | 5 897 293.90 | 2.15 |
| NZD	NEW ZEALAND 3.000%/CPI LINKED 13-20.09.30 | 11 500 000.00 | 9 743 380.54 | 3.56 |
| Total NZD |  | 15 640 674.44 | 5.71 |
| Total des Obligations, taux variable |  | 15 640 674.44 | 5.71 |
| Total des Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  | 20 867 546.53 | 7.62 |

Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé
Billets, taux fixe
| USD |  |
| --- | --- |
| USD | VISTRA OPERATIONS CO LLC-144A 5.12500% 22-13.05.25 | 365 000.00 | 367 781.08 | 0.13 |
| Total USD |  |  | 367 781.08 | 0.13 |
| Total des Billets, taux fixe | 367 781.08 | 0.13 |
| Total des Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé | 367 781.08 | 0.13 |

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 | 100.00 | 14 450.09 | 0.00 |
| --- | --- | --- | --- | --- |
| USD | UBS (LUX) BOND SICAV - ASIAN HIGH YIELD (USD) I-X-DIST | 45 000.00 | 2 835 450.00 | 1.04 |
| USD | UBS (LUX) BOND SICAV - CHINA HIGH YIELD (USD) U-X-ACC | 305.00 | 1 688 196.35 | 0.62 |
| Total Luxembourg | 4 538 096.44 | 1.66 |
| Total des Fonds d’investissement, ouvert | 4 538 096.44 | 1.66 |
| Total des OPCVM/Autres OPC au sens de l’article 41 (1) e) de la loi luxembourgeoise du 17 décembre 2010, telle que modifiée | 4 538 096.44 | 1.66 |
| Total du Portefeuille-titres | 263 064 620.85 | 96.11 |

| Instruments dérivés |  |
| --- | --- |
| Instruments dérivés négociés sur une bourse officielle |
| Contrats financiers à terme sur obligations |
|  |  |  |  |
| EUR	EURO BTP ITALY GOVERNMENT FUTURE 08.06.22 | 18.00 | -338 022.22 | -0.12 |
| EUR	EURO-BUND FUTURE 08.06.22 | 16.00 | -254 529.00 | -0.09 |
| EUR	EURO-BOBL FUTURE 08.06.22 | -40.00 | 260 785.10 | 0.09 |
| EUR	EURO-SCHATZ FUTURE 08.06.22 | 136.00 | -241 845.40 | -0.09 |
| EUR	EURO-BUXL FUTURE 08.06.22 | -21.00 | 886 352.25 | 0.32 |
| EUR	EURO-OAT FUTURE 08.06.22 | 18.00 | -273 233.02 | -0.10 |
| GBP	LONG GILT FUTURE 28.09.22 | 50.00 | -111 536.55 | -0.04 |
| AUD	AUSTRALIA 10YR BOND FUTURE 15.06.22 | -4.00 | 27 212.41 | 0.01 |
| JPY	JAPAN GOVERNMENT 10Y BOND (OSE) FUTURE 13.06.22 | -20.00 | 58 455.44 | 0.02 |
| AUD	AUSTRALIA 3YR BOND FUTURE 15.06.22 | 115.00 | -237 990.55 | -0.09 |
| USD	US ULTRA LONG BOND (CBT) FUTURE 21.09.22 | -32.00 | 96 101.57 | 0.03 |
| USD	US LONG BOND FUTURE 21.09.22 | -25.00 | 45 578.13 | 0.02 |
| CAD	CAN 10YR BOND FUTURE 20.09.22 | 23.00 | -28 912.52 | -0.01 |
| USD	US 5YR TREASURY NOTE FUTURE 30.09.22 | -93.00 | 47 015.64 | 0.02 |
| USD	US 10YR ULTRA NOTE FUTURE 21.09.22 | -92.00 | 131 234.41 | 0.05 |
| USD	US 10YR TREASURY NOTE FUTURE 21.09.22 | -51.00 | 45 828.13 | 0.02 |
| USD	US 2YR TREASURY NOTE FUTURE 30.09.22 | 92.00 | -28 031.30 | -0.01 |
| Total des Contrats financiers à terme sur obligations |  | 84 462.52 | 0.03 |
| Contrats à terme sur taux d’intérêt |  |  |  |
|  |  |  |  |
| USD	90DAY EURO DOLLAR FUTURE 18.12.23 | 270.00 | -1 094 550.00 | -0.40 |
| USD	90DAY EURO DOLLAR FUTURE 16.12.24 | -270.00 | 782 425.00 | 0.29 |
| Total des Contrats à terme sur taux d’intérêt |  | -312 125.00 | -0.11 |
| Total des Instruments dérivés négociés sur une bourse officielle |  | -227 662.48 | -0.08 |
| * Évaluation à la juste valeur - voir Note 15 - Événement |  |  |  |

UBS (Lux) Bond SICAV – Global Inflation-linked (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) |  |

Instruments dérivés non négociés sur une bourse officielle ou sur un autre marché réglementé
Swaps et Swaps à terme sur taux d’intérêt
| USD USD | LCH/INTEREST RATE SWAP PAY 2.24100% 17-08.08.27 LCH/INTEREST RATE SWAP REC 3M LIBOR 17-08.08.27 | -3 500 000.00 | 81 012.80 | 0.03 |
| --- | --- | --- | --- | --- |
| USD | LCH/INTEREST RATE SWAP PAY 1.89660% 17-20.09.22 | -3 400 000.00 | -8 697.97 | 0.00 |
| USD | LCH/INTEREST RATE SWAP REC 3M LIBOR 17-20.09.22 |  |  |  |
| USD | LCH/INTEREST RATE SWAP PAY 1.29910% 20-03.03.50 | -600 000.00 | 182 992.70 | 0.07 |
| USD | LCH/INTEREST RATE SWAP REC 3M LIBOR 20-03.03.50 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAY 2.11600% 20-23.01.30 | -12 000 000.00 | 705 457.43 | 0.26 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 20-23.01.30 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAY 1.91900% 20-10.02.30 | -12 500 000.00 | 773 764.38 | 0.28 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 20-10.02.30 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAY 0.81528% 21-18.02.51 | -600 000.00 | 197 849.11 | 0.07 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 21-18.02.51 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAY 0.84167% 21-19.02.51 | -800 000.00 | 258 057.12 | 0.09 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 21-19.02.51 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAY 0.88544% 21-28.02.51 | -1 300 000.00 | 404 109.18 | 0.15 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 21-28.02.51 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAY 1.20750% 19-27.09.29 | -7 100 000.00 | 799 282.25 | 0.29 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 19-27.09.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAY 1.67500% 24-30.10.29 | -15 000 000.00 | 904 420.10 | 0.33 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 24-30.10.29 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP PAY 1.58300% 24-24.09.29 | -13 000 000.00 | 819 739.36 | 0.30 |
| NZD | LCH/INTEREST RATE SWAP REC 3MFRA 24-24.09.29 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP PAY 2.80500% 21-02.04.26 | -70 000 000.00 | -191 024.00 | -0.07 |
| CNY | CITI/INTEREST RATE SWAP REC CNRR007 21-02.04.26 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAY 1.73300% 21-16.04.31 | -18 000 000.00 | 1 284 649.89 | 0.47 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 21-16.04.31 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAY 1.72500% 21-17.06.31 | -12 500 000.00 | 883 208.71 | 0.32 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 21-17.06.31 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAY 0.93330% 21-26.10.51 | -1 200 000.00 | 358 155.83 | 0.13 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 21-26.10.51 |  |  |  |
| USD | LCH/INTEREST RATE SWAP PAY 1.82280% 21-29.10.51 | -1 500 000.00 | 310 440.34 | 0.11 |
| USD | LCH/INTEREST RATE SWAP REC 3M LIBOR 21-29.10.51 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP PAY 0.52820% 21-09.12.51 | -1 200 000.00 | 497 522.97 | 0.18 |
| GBP | LCH/INTEREST RATE SWAP REC SONIA O/N 21-09.12.51 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAY 3.79250% 22-17.01.32 | -8 000 000.00 | 320 559.41 | 0.12 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 22-17.01.32 |  |  |  |
| PLN | LCH/INTEREST RATE SWAP PAY 3.86400% 22-19.01.32 | -8 000 000.00 | 310 956.64 | 0.11 |
| PLN | LCH/INTEREST RATE SWAP REC 6MWIB 22-19.01.32 |  |  |  |
| KRW | JPMORGAN/INTEREST RATE SWAP PAY 2.15900% 22-25.01.32 | -4 400 000 000.00 | 289 216.44 | 0.11 |
| KRW | JPMORGAN/INTEREST RATE SWAP REC 3MKWCD 22-25.01.32 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 3.74500% 17-14.08.22 | 70 000 000.00 | 48 898.78 | 0.02 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAY CNRR007 17-14.08.22 |  |  |  |
| CNY | JPMORGAN/INTEREST RATE SWAP REC 2.23500% 20-10.06.25 | 20 000 000.00 | -1 178.05 | 0.00 |
| CNY | JPMORGAN/INTEREST RATE SWAP PAY CNRR007 20-10.06.25 |  |  |  |
| CNY | CITI/INTEREST RATE SWAP REC 2.27000% 20-11.06.25 | 20 000 000.00 | 2 560.41 | 0.00 |
| CNY | CITI/INTEREST RATE SWAP PAY CNRR007 20-11.06.25 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 7.84500% 18-20.04.28 | 50 000 000.00 | -80 978.55 | -0.03 |
| MXN | CME/INTEREST RATE SWAP PAY MXI 18-20.04.28 |  |  |  |
| NZD | LCH/INTEREST RATE SWAP REC 1.32000% 21-22.06.26 | 8 000 000.00 | -488 091.38 | -0.18 |
| NZD | LCH/INTEREST RATE SWAP PAY 3MFRA 21-22.06.26 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 2.59600% 21-10.08.26 | 1 600 000 000.00 | -701 933.61 | -0.26 |
| HUF | LCH/INTEREST RATE SWAP PAY 6ML 21-10.08.26 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 2.83500% 21-17.09.26 | 1 020 000 000.00 | -439 341.38 | -0.16 |
| HUF | LCH/INTEREST RATE SWAP PAY 6ML 21-17.09.26 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 7.50000% 21-22.09.31 | 46 000 000.00 | -147 257.51 | -0.05 |
| MXN | CME/INTEREST RATE SWAP PAY MXI 21-22.09.31 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 7.44000% 21-16.10.26 | 115 000 000.00 | -251 619.62 | -0.09 |
| MXN | CME/INTEREST RATE SWAP PAY MXI 21-16.10.26 |  |  |  |
| MXN | CME/INTEREST RATE SWAP REC 7.49250% 21-19.10.26 | 165 000 000.00 | -345 212.71 | -0.13 |
| MXN | CME/INTEREST RATE SWAP PAY MXI 21-19.10.26 |  |  |  |
| ZAR | LCH/INTEREST RATE SWAP REC 7.67000% 22-06.01.32 | 28 000 000.00 | -74 043.24 | -0.03 |
| ZAR | LCH/INTEREST RATE SWAP PAY 3MZAR 22-06.01.32 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 4.82000% 22-17.01.27 | 1 200 000 000.00 | -316 652.91 | -0.12 |
| HUF | LCH/INTEREST RATE SWAP PAY 6MHUF 22-17.01.27 |  |  |  |
| HUF | LCH/INTEREST RATE SWAP REC 4.95100% 22-19.01.27 | 1 200 000 000.00 | -298 125.83 | -0.11 |
| HUF | LCH/INTEREST RATE SWAP PAY 6ML 22-19.01.27 |  |  |  |
| KRW | JPMORGAN/INTEREST RATE SWAP REC 2.02000% 22-25.01.24 | 22 500 000 000.00 | -265 438.91 | -0.10 |
| KRW | JPMORGAN/INTEREST RATE SWAP PAY 3MKWCD 22-25.01.24 |  |  |  |
| GBP | LCH/INTEREST RATE SWAP REC 1.61930% 22-24.02.27 | 9 000 000.00 | -313 724.52 | -0.10 |
| GBP | LCH/INTEREST RATE SWAP PAY SONIA O/N 22-24.02.27 |  |  |  |
| Total des Swaps et Swaps à terme sur taux d’intérêt |  | 5 509 533.66 | 2.01 |
| Credit Default Swaps* |  |  |  |
|  |  |  |  |
| USD	BOA/MEX CREDIT DEFAULT SWAP PAY 1.00000% 19-20.06.24 | -1 450 000.00 | -14 864.42 | 0.00 |
| USD	BOA/TURKEY CREDIT DEFAULT SWAP REC 1.00000% 19-20.06.24 | 1 450 000.00 | -162 064.30 | -0.06 |
| Total des Credit Default Swaps |  | -176 928.72 | -0.06 |
| Total des Instruments dérivés non négociés sur une bourse officielle ou sur un autre marché réglementé |  | 5 332 604.94 | 1.95 |
| Total des Instruments dérivés |  | 5 104 942.46 | 1.87 |
| * Nominal positif: le compartiment est «receveur», nominal négatif: le compartiment est «payeur». |  |  |  |

UBS (Lux) Bond SICAV – Global Inflation-linked (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) |  |

Contrats de change à terme
Devise achetée/Montant acheté/Devise vendue/Montant vendu/Date de maturité
| MYR | 3 240 000.00 | USD | 740 910.13 | 7.6.2022 | -1 178.47 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 7 904 744.52 | CNY | 51 965 000.00 | 6.6.2022 | 99 994.68 | 0.04 |
| USD | 3 185 255.84 | TWD | 93 500 000.00 | 6.6.2022 | -37 613.32 | -0.01 |
| KRW | 4 155 000 000.00 | USD | 3 264 007.54 | 7.6.2022 | 90 224.73 | 0.03 |
| USD | 10 760 917.47 | JPY | 1 401 700 000.00 | 6.6.2022 | -135 321.47 | -0.05 |
| USD | 3 473 138.83 | BRL | 17 630 000.00 | 6.6.2022 | -246 100.44 | -0.09 |
| CLP | 1 946 000 000.00 | USD | 2 252 836.30 | 6.6.2022 | 110 903.33 | 0.04 |
| USD | 1 654 176.34 | PLN | 7 335 000.00 | 6.6.2022 | -60 818.42 | -0.02 |
| CHF | 49 612 500.00 | USD | 50 749 969.21 | 7.6.2022 | 1 013 384.40 | 0.37 |
| USD | 71 738 523.76 | EUR | 68 210 000.00 | 6.6.2022 | -1 334 905.24 | -0.49 |
| USD | 22 632 872.46 | NZD | 35 265 000.00 | 7.6.2022 | -321 609.61 | -0.12 |
| EUR | 169 144 500.00 | USD | 177 894 395.73 | 6.6.2022 | 3 310 245.99 | 1.21 |
| USD | 606 807.86 | AUD | 855 000.00 | 6.6.2022 | -6 535.51 | 0.00 |
| NOK | 3 540 000.00 | USD | 374 044.71 | 7.6.2022 | 2 525.65 | 0.00 |
| PLN | 4 000 000.00 | USD | 888 364.75 | 6.6.2022 | 46 874.38 | 0.02 |
| USD | 3 715 558.19 | MXN | 76 390 000.00 | 6.6.2022 | -158 665.21 | -0.06 |
| USD | 14 048 560.59 | GBP | 11 215 000.00 | 6.6.2022 | -85 670.26 | -0.03 |
| USD | 222 385.24 | HUF | 81 350 000.00 | 7.6.2022 | 2 887.27 | 0.00 |
| USD | 607 672.11 | DKK | 4 300 000.00 | 7.6.2022 | -11 540.74 | 0.00 |
| USD | 129 588.24 | SEK | 1 280 000.00 | 7.6.2022 | -1 249.00 | 0.00 |
| EUR | 529 767.29 | USD | 560 000.00 | 6.6.2022 | 7 540.13 | 0.00 |
| CNY | 1 305 000.00 | USD | 196 264.21 | 6.6.2022 | -263.08 | 0.00 |
| SGD | 1 943 850.25 | USD | 1 410 000.00 | 6.6.2022 | 7 933.86 | 0.00 |
| USD | 1 410 000.00 | PHP | 74 278 800.00 | 6.6.2022 | -7 306.70 | 0.00 |
| CNY | 11 400 000.00 | USD | 1 717 255.40 | 6.6.2022 | -5 061.65 | 0.00 |
| EUR | 1 415 000.00 | SEK | 14 782 575.75 | 7.6.2022 | 4 937.80 | 0.00 |
| EUR | 1 200 000.00 | USD | 1 262 265.24 | 6.6.2022 | 23 295.75 | 0.01 |
| USD | 247 462.40 | GBP | 200 000.00 | 6.6.2022 | -4 597.00 | 0.00 |
| EUR | 270 000.00 | USD | 285 676.88 | 6.6.2022 | 3 574.34 | 0.00 |
| AUD | 2 095 000.00 | USD | 1 470 268.28 | 6.6.2022 | 32 602.31 | 0.01 |
| USD | 366 078.41 | PLN | 1 630 000.00 | 6.6.2022 | -15 031.54 | -0.01 |
| EUR | 980 000.00 | USD | 1 033 803.18 | 6.6.2022 | 16 071.62 | 0.01 |
| NZD | 310 000.00 | USD | 195 943.25 | 7.6.2022 | 5 840.09 | 0.00 |
| ZAR | 11 345 560.77 | USD | 705 000.00 | 6.6.2022 | 22 926.95 | 0.01 |
| USD | 914 761.27 | CHF | 903 000.00 | 7.6.2022 | -27 386.54 | -0.01 |
| USD | 2 769 583.18 | EUR | 2 624 800.00 | 6.6.2022 | -42 367.22 | -0.02 |
| PLN | 6 215 000.00 | CZK | 33 250 871.50 | 6.6.2022 | 12 993.48 | 0.00 |
| USD | 388 538.02 | PLN | 1 745 000.00 | 6.6.2022 | -19 460.05 | -0.01 |
| CAD | 2 090 487.20 | USD | 1 600 000.00 | 6.6.2022 | 52 731.95 | 0.02 |
| MYR | 6 143 200.00 | USD | 1 400 000.00 | 7.6.2022 | 2 567.75 | 0.00 |
| USD | 1 400 000.00 | PHP | 73 640 000.00 | 6.6.2022 | -5 117.82 | 0.00 |
| USD | 328 568.67 | GBP | 270 000.00 | 6.6.2022 | -11 711.52 | 0.00 |
| USD | 442 598.65 | EUR | 420 000.00 | 6.6.2022 | -7 347.69 | 0.00 |
| NZD | 620 000.00 | USD | 394 034.12 | 7.6.2022 | 9 532.56 | 0.00 |
| USD | 1 789 499.63 | EUR | 1 701 000.00 | 6.6.2022 | -32 783.07 | -0.01 |
| NOK | 13 840 000.00 | SEK | 14 073 259.36 | 7.6.2022 | 33 718.81 | 0.01 |
| GBP | 320 000.00 | USD | 398 966.40 | 6.6.2022 | 4 328.64 | 0.00 |
| USD | 6 661 411.37 | EUR | 6 285 700.00 | 6.6.2022 | -72 464.20 | -0.03 |
| USD | 799 964.62 | CHF | 777 700.00 | 7.6.2022 | -11 451.05 | 0.00 |
| USD | 567 335.65 | KRW | 720 000 000.00 | 7.6.2022 | -13 903.16 | -0.01 |
| NZD | 4 080 000.00 | USD | 2 613 069.86 | 7.6.2022 | 42 659.24 | 0.01 |
| JPY | 126 300 000.00 | USD | 987 113.44 | 6.6.2022 | -5 309.22 | 0.00 |
| CNY | 3 675 000.00 | USD | 549 327.35 | 6.6.2022 | 2 629.85 | 0.00 |
| PLN | 3 215 000.00 | USD | 732 921.39 | 6.6.2022 | 18 777.06 | 0.01 |
| GBP | 925 000.00 | USD | 1 155 021.69 | 6.6.2022 | 10 753.03 | 0.00 |
| EUR | 202 434.94 | MXN | 4 290 000.00 | 6.6.2022 | -704.65 | 0.00 |
| GBP | 128 007.48 | USD | 160 000.00 | 6.6.2022 | 1 327.44 | 0.00 |
| USD | 322 845.98 | AUD | 455 000.00 | 6.6.2022 | -3 553.12 | 0.00 |
| SEK | 4 126 409.14 | GBP | 331 100.00 | 7.6.2022 | 4 504.17 | 0.00 |
| USD | 1 355 520.85 | AUD | 1 905 000.00 | 6.6.2022 | -11 051.22 | 0.00 |
| USD | 675 000.00 | ZAR | 10 570 398.08 | 6.6.2022 | -3 192.81 | 0.00 |
| USD | 5 284 377.78 | CNY | 35 585 000.00 | 6.7.2022 | -47 481.38 | -0.02 |
| CNY | 35 585 000.00 | USD | 5 296 175.03 | 6.6.2022 | 48 422.74 | 0.02 |
| SEK | 9 237 489.84 | GBP | 743 900.00 | 7.6.2022 | 6 692.08 | 0.00 |
| TWD | 93 500 000.00 | USD | 3 197 893.15 | 6.6.2022 | 24 976.01 | 0.01 |
| USD | 3 206 777.10 | TWD | 93 500 000.00 | 6.7.2022 | -32 083.39 | -0.01 |
| KRW | 3 435 000 000.00 | USD | 2 741 114.32 | 6.7.2022 | 26 565.96 | 0.01 |
| USD | 2 741 639.40 | KRW | 3 435 000 000.00 | 7.6.2022 | -31 354.07 | -0.01 |
| USD | 1 350 000.00 | CAD | 1 718 929.89 | 6.6.2022 | -8 980.02 | 0.00 |
| USD | 2 148 168.50 | MYR | 9 383 200.00 | 7.6.2022 | 5 869.09 | 0.00 |
| PHP | 147 918 800.00 | USD | 2 827 194.19 | 6.6.2022 | -4 769.67 | 0.00 |
| MYR | 9 384 000.00 | USD | 2 148 056.59 | 6.7.2022 | -7 516.50 | 0.00 |
| USD | 2 821 588.63 | PHP | 147 950 000.00 | 6.7.2022 | 11 832.85 | 0.00 |
| USD | 491 359.44 | MXN | 9 570 000.00 | 6.6.2022 | 6 003.79 | 0.00 |
| USD | 2 357 359.18 | CLP | 1 946 000 000.00 | 6.6.2022 | -6 380.45 | 0.00 |
| USD | 3 699 506.87 | BRL | 17 630 000.00 | 6.7.2022 | 16 351.38 | 0.01 |
| BRL | 17 630 000.00 | USD | 3 732 006.77 | 6.6.2022 | -12 767.50 | 0.00 |
| CLP | 1 946 000 000.00 | USD | 2 343 590.05 | 6.7.2022 | 5 256.14 | 0.00 |
| USD | 3 343 557.39 | EUR | 3 100 000.00 | 6.6.2022 | 22 524.84 | 0.01 |
| USD | 13 008 383.69 | GBP | 10 315 000.00 | 6.7.2022 | 5 920.15 | 0.00 |
| USD | 321 319.72 | PLN | 1 375 000.00 | 6.6.2022 | -168.73 | 0.00 |
| Total des Contrats de change à terme | 2 325 929.58 | 0.85 |
|  |  |  |
| Avoirs en banque, dépôts à vue et à terme et autres liquidités | 5 566 463.11* | 2.03 |
| Crédit en compte courant et autres engagements à court terme | -3 757 583.78 | -1.37 |
| Autres actifs et passifs | 1 400 714.27 | 0.51 |
| Total de l’Actif net | 273 705 086.49 | 100.00 |

* Au 31 mai 2022, des avoirs en banque ont été utilisés à titre de sûreté, à hauteur de 260 000.00 USD en faveur de Citibank et à hauteur de 260 000.00 USD en faveur de Morgan Stanley London.
UBS (Lux) Bond SICAV – Global Inflation-linked (USD) Rapport annuel et états financiers révisés au 31 mai 2022