# UBS (Lux) Strategy SICAV – Income (USD)
| Three-year comparison |  |
| --- | --- |
|  | ISIN | 31.5.2020 | 31.5.2019 | 31.5.2018 |
| Net assets in USD |  | 124 799 844.54 | 137 065 284.80 | 151 457 204.17 |
| Class K-1-acc | LU1097765488 |  |  |  |
| Shares outstanding |  | 6.9000 | 8.4000 | 8.4000 |
| Net asset value per share in USD |  | 5 790 222.48 | 5 635 043.21 | 5 458 556.40 |
| Issue and redemption price per share in USD 1 |  | 5 790 222.48 | 5 635 043.21 | 5 458 556.40 |
| Class P-acc | LU0994951548 |  |  |  |
| Shares outstanding |  | 584 895.7420 | 634 957.5850 | 782 024.8240 |
| Net asset value per share in USD |  | 117.41 | 114.74 | 111.62 |
| Issue and redemption price per share in USD 1 |  | 117.41 | 114.74 | 111.62 |
| Class (JPY hedged) P-acc 2 | LU1411405076 |  |  |  |
| Shares outstanding |  | - | - | 31 126.2220 |
| Net asset value per share in JPY |  | - | - | 10 167 |
| Issue and redemption price per share in JPY 1 |  | - | - | 10 167 |
| Class P-dist | LU0994670023 |  |  |  |
| Shares outstanding |  | 65 992.6310 | 71 254.3640 | 81 278.5880 |
| Net asset value per share in USD |  | 110.26 | 109.50 | 107.37 |
| Issue and redemption price per share in USD 1 |  | 110.26 | 109.50 | 107.37 |
| Class Q-acc | LU1240801693 |  |  |  |
| Shares outstanding |  | 73 722.2180 | 77 412.4950 | 57 784.4800 |
| Net asset value per share in USD |  | 116.16 | 112.90 | 109.23 |
| Issue and redemption price per share in USD 1 |  | 116.16 | 112.90 | 109.23 |
| Class Q-dist | LU1240801776 |  |  |  |
| Shares outstanding |  | 3 060.7010 | 3 060.7010 | 3 437.6320 |
| Net asset value per share in USD |  | 108.77 | 108.01 | 105.92 |
| Issue and redemption price per share in USD 1 |  | 108.77 | 108.01 | 105.92 |
| 1  See note 1 2  The share class (JPY hedged) P-acc was in circulation until 20.2.2019 |  |  |  |  |
| Performance |  |  |  |  |
|  | Currency | 2019/2020 | 2018/2019 | 2017/2018 |
| Class K-1-acc | USD | 2.8% | 3.2% | 1.1% |
| Class P-acc | USD | 2.3% | 2.8% | 0.7% |
| Class (JPY hedged) P-acc 1 | JPY | - | - | -1.3% |
| Class P-dist | USD | 2.3% | 2.8% | 0.7% |
| Class Q-acc | USD | 2.9% | 3.4% | 1.2% |
| Class Q-dist | USD | 2.9% | 3.4% | 1.2% |

1 
The share class (JPY hedged) P-acc was in circulation until 20.2.2019. Due to this fact, there is no data for the calculation of the performance available in 2020. Historical performance is no indicator of current or future performance.
The performance data does not take account of any commissions and costs charged when subscribing and redeeming shares. The performance data were not audited.
The subfund has no benchmark.
UBS (Lux) Strategy SICAV – Income (USD)
Annual report and audited financial statements as of 31 May 2020

## Report of the Portfolio Manager
The financial year from 1 June 2019 to 31 May 2020 was initially driven by the ample supply of central bank liquidity and the market’s expectation of continuously low rates. In this environment both traditional risk-off and risk-on assets posted positive returns.
Over the financial year, the subfund generated a positive return helped by the strong rebound in USD safe haven assets from April 2020.
Since year-end we have seen the development of the coronavirus Covid-19 outbreak initially in China and now reaching most continents. At present it is not possible to assess the detailed impact of the emerging risk on the companies in our portfolio but there is growing concern about the impact on the world economy. There has been a significant correction in the financial markets in the last few weeks. The Board and the Manager continue to watch the efforts of governments to contain the spread of the virus and monitor the economic impact, if any, on the companies in our portfolio.

## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
Luxembourg	66.51
| United States | 15.57 |
| --- | --- |
| Ireland | 2.12 |
| Canada | 1.64 |
| The Netherlands | 1.37 |
| Philippines | 1.15 |
| Qatar | 1.03 |
| Australia | 1.00 |
| Germany | 0.99 |
| South Korea | 0.96 |
| Kuwait | 0.71 |
| United Kingdom | 0.52 |
| Singapore | 0.44 |
| Supranationals | 0.42 |
| United Arab Emirates | 0.34 |
| Japan | 0.33 |
| France | 0.27 |
| Norway | 0.21 |
| New Zealand | 0.16 |
| Total | 95.74 |

Economic Breakdown as a % of net assets	
| Investment funds | 68.10 |
| --- | --- |
| Countries & central governments | 7.06 |
| Banks & credit institutions | 3.82 |
| Finance & holding companies | 3.74 |
| Supranational organisations | 3.23 |
| Computer hardware & network equipment providers | 2.18 |
| Internet, software & IT services | 1.73 |
| Cantons, federal states | 1.61 |
| Petroleum | 1.20 |
| Miscellaneous services | 0.96 |
| Retail trade, department stores | 0.66 |
| Pharmaceuticals, cosmetics & medical products | 0.60 |
| Miscellaneous consumer goods | 0.45 |
| Biotechnology | 0.23 |
| Tobacco & alcohol | 0.17 |
| Total | 95.74 |

UBS (Lux) Strategy SICAV – Income (USD) Annual report and audited financial statements as of 31 May 2020

## Statement of Net Assets
Assets	31.5.2020
USD
Investments in securities, cost	109 146 089.35
| Investments in securities, unrealized appreciation (depreciation) | 	10 339 359.55	 |
| --- | --- |
| Total investments in securities (Note 1) | 119 485 448.90 |
| Cash at banks, deposits on demand and deposit accounts | 3 891 371.97 |
| Other liquid assets (Margins) | 1 554 413.40 |
| Interest receivable on securities | 198 036.70 |
| Other receivables | 38 143.39 |
| Interest receivable on liquid assets | 601.28 |
| Unrealized gain (loss) on financial futures (Note 1) | -143 606.81 |
| Unrealized gain (loss) on forward foreign exchange contracts (Note 1) | -146 163.25 |
| Unrealized gain (loss) on swaps (Note 1) | 39 042.67 |
| Total Assets | 124 917 288.25 |
|  |  |
| Liabilities |  |
| Bank overdraft | -32 598.44 |
| Interest payable on bank overdraft | -17.92 |
| Payable on securities purchases (Note 1) | -203.00 |
| Provisions for flat fee (Note 2) | -53 302.35 |
| Provisions for taxe d’abonnement (Note 3) | -3 440.78 |
| Provisions for other commissions and fees (Note 2) | 	-27 881.22	 |
| Total provisions | -84 624.35 |
| Total Liabilities | -117 443.71 |
|  |  |
| Net assets at the end of the financial year | 124 799 844.54 |
| Statement of Operations | USD |
| Income | 1.6.2019-31.5.2020 |
| Interest on liquid assets | 30 813.40 |
| Interest on securities | 1 062 946.44 |
| Interest received on swaps (Note 1) | 27 441.43 |
| Dividends | 149 431.20 |
| Income on securities lending (Note 15) | 27 365.17 |
| Other income (Note 4) | 38 409.80 |
| Total income | 1 336 407.44 |
|  |  |
| Expenses |  |
| Interest paid on swaps (Note 1) | -2 540.83 |
| Cost on securities lending (Note 15) | -10 946.07 |
| Flat fee (Note 2) | -1 505 438.51 |
| Taxe d’abonnement (Note 3) | -24 809.41 |
| Other commissions and fees (Note 2) | -27 729.94 |
| Interest on cash and bank overdraft | -5 471.60 |
| Total expenses | -1 576 936.36 |
|  |  |
| Net income (loss) on investments | -240 528.92 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | 4 976 529.54 |
| Realized gain (loss) on options | 118 668.22 |
| Realized gain (loss) on financial futures | -2 104 110.89 |
| Realized gain (loss) on forward foreign exchange contracts | -686 309.15 |
| Realized gain (loss) on swaps | 110 118.20 |
| Realized gain (loss) on foreign exchange | 98 686.36 |
| Total realized gain (loss) | 2 513 582.28 |
|  |  |
| Net realized gain (loss) of the financial year | 2 273 053.36 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | 1 464 929.52 |
| Unrealized appreciation (depreciation) on options | 322 130.00 |
| Unrealized appreciation (depreciation) on yield-evaluated securities and money market instruments | 3 360.34 |
| Unrealized appreciation (depreciation) on financial futures | -144 466.44 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | -256 232.90 |
| Unrealized appreciation (depreciation) on swaps | -27 501.85 |
| Total changes in unrealized appreciation (depreciation) | 1 362 218.67 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | 3 635 272.03 |

UBS (Lux) Strategy SICAV – Income (USD)
Annual report and audited financial statements as of 31 May 2020
| Statement of Changes in Net Assets |  |
| --- | --- |
|  |  | USD |
|  |  | 1.6.2019-31.5.2020 |
| Net assets at the beginning of the financial year |  | 137 065 284.80 |
| Subscriptions |  | 6 416 015.45 |
| Redemptions |  | 	-22 182 519.80	 |
| Total net subscriptions (redemptions) |  | -15 766 504.35 |
| Dividend paid |  | -134 207.94 |
| Net income (loss) on investments |  | -240 528.92 |
| Total realized gain (loss) |  | 2 513 582.28 |
| Total changes in unrealized appreciation (depreciation) |  | 	1 362 218.67	 |
| Net increase (decrease) in net assets as a result of operations |  | 3 635 272.03 |
| Net assets at the end of the financial year |  | 124 799 844.54 |
| Changes in the Number of Shares outstanding |  |  |
|  |  | 1.6.2019-31.5.2020 |
| Class |  | K-1-acc |
| Number of shares outstanding at the beginning of the financial year |  | 8.4000 |
| Number of shares issued |  | 0.2000 |
| Number of shares redeemed |  | -1.7000 |
| Number of shares outstanding at the end of the financial year |  | 6.9000 |
| Class |  | P-acc |
| Number of shares outstanding at the beginning of the financial year |  | 634 957.5850 |
| Number of shares issued |  | 39 304.8990 |
| Number of shares redeemed |  | -89 366.7420 |
| Number of shares outstanding at the end of the financial year |  | 584 895.7420 |
| Class |  | P-dist |
| Number of shares outstanding at the beginning of the financial year |  | 71 254.3640 |
| Number of shares issued |  | 2 334.2290 |
| Number of shares redeemed |  | -7 595.9620 |
| Number of shares outstanding at the end of the financial year |  | 65 992.6310 |
| Class |  | Q-acc |
| Number of shares outstanding at the beginning of the financial year |  | 77 412.4950 |
| Number of shares issued |  | 3 146.7990 |
| Number of shares redeemed |  | -6 837.0760 |
| Number of shares outstanding at the end of the financial year |  | 73 722.2180 |
| Class |  | Q-dist |
| Number of shares outstanding at the beginning of the financial year |  | 3 060.7010 |
| Number of shares issued |  | 0.0000 |
| Number of shares redeemed |  | 0.0000 |
| Number of shares outstanding at the end of the financial year |  | 3 060.7010 |
| Annual Distribution 1 |  |  |
| UBS (Lux) Strategy SICAV – Income (USD)	Ex-Date | Pay-Date | Currency	Amount per share |
| P-dist	1.8.2019 | 6.8.2019 | USD	1.78 |
| Q-dist	1.8.2019 | 6.8.2019 | USD	2.35 |
| 1  See note 5 |  |  |

UBS (Lux) Strategy SICAV – Income (USD) Annual report and audited financial statements as of 31 May 2020

## Statement of Investments in Securities and other Net Assets as of 31 May 2020
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Transferable securities and money market instruments listed on an official stock exchange |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	ABU DHABI,GOVERNMENT OF-REG-S 3.12500% 17-11.10.27 | 400 000.00 | 429 000.00 | 0.34 |
| USD	ALBERTA, PROVINCE OF 3.30000% 18-15.03.28 | 250 000.00 | 288 226.48 | 0.23 |
| USD	ALPHABET INC 1.99800% 16-15.08.26 | 330 000.00 | 356 973.64 | 0.29 |
| USD	AMERICAN EXPRESS CO 3.40000% 18-27.02.23 | 115 000.00 | 122 562.20 | 0.10 |
| USD	APPLE INC 1.65000% 20-11.05.30 | 246 000.00 | 249 601.17 | 0.20 |
| USD	APPLE INC 2.20000% 19-11.09.29 | 400 000.00 | 429 384.88 | 0.34 |
| USD	APPLE INC 2.45000% 16-04.08.26 | 380 000.00 | 414 224.09 | 0.33 |
| USD	APPLE INC 2.90000% 17-12.09.27 | 650 000.00 | 728 205.72 | 0.58 |
| USD	APPLE INC 3.20000% 17-11.05.27 | 750 000.00 | 846 308.63 | 0.68 |
| USD	APPLE INC 3.25000% 16-23.02.26 | 50 000.00 | 56 396.92 | 0.04 |
| USD	BERKSHIRE HATHAWAY INC 3.12500% 16-15.03.26 | 400 000.00 | 447 208.64 | 0.36 |
| USD	CHEVRON CORP 2.23600% 20-11.05.30 | 250 000.00 | 262 670.25 | 0.21 |
| USD	CORPORACION ANDINA DE FOMENTO 4.37500% 12-15.06.22 | 225 000.00 | 235 408.50 | 0.19 |
| USD	EQUINOR ASA 3.62500% 18-10.09.28 | 230 000.00 | 260 373.36 | 0.21 |
| USD	EUROPEAN INVESTMENT BANK 2.37500% 17-24.05.27 | 450 000.00 | 501 240.15 | 0.40 |
| USD	EXXON MOBIL CORP 3.04300% 16-01.03.26 | 300 000.00 | 332 320.02 | 0.27 |
| USD	HSBC BANK PLC-REG-S 4.12500% 10-12.08.20 | 250 000.00 | 251 764.45 | 0.20 |
| USD	INTER-AMERICAN DEVELOPMENT BANK 2.25000% 19-18.06.29 | 600 000.00 | 670 909.14 | 0.54 |
| USD	JOHNSON & JOHNSON 2.45000% 16-01.03.26 | 475 000.00 | 519 555.05 | 0.42 |
| USD	JOHNSON & JOHNSON 2.90000% 17-15.01.28 | 200 000.00 | 224 889.18 | 0.18 |
| USD	KOREA HYDRO&NUCLEAR POWER CO LTD-REG-S 3.12500% 17-25.07.27 | 300 000.00 | 321 562.50 | 0.26 |
| USD	KREDITANSTALT FUER WIEDERAUFBAU 2.00000% 15-02.05.25 | 95 000.00 | 101 880.85 | 0.08 |
| USD	KREDITANSTALT FUER WIEDERAUFBAU 2.87500% 18-03.04.28 | 680 000.00 | 789 636.40 | 0.63 |
| USD	KUWAIT INTERNATIONAL GOVT BOND-REG-S 3.50000% 17-20.03.27 | 800 000.00 | 882 000.00 | 0.71 |
| USD	MICROSOFT CORP 2.87500% 17-06.02.24 | 250 000.00 | 270 821.30 | 0.22 |
| USD	MICROSOFT CORP 3.30000% 17-06.02.27 | 1 030 000.00 | 1 182 955.11 | 0.95 |
| USD	MICROSOFT CORP 4.00000% 11-08.02.21 | 125 000.00 | 128 149.82 | 0.10 |
| USD	NOVARTIS CAPITAL CORP 3.10000% 17-17.05.27 | 440 000.00 | 491 405.28 | 0.39 |
| USD	PROCTER & GAMBLE CO 2.85000% 17-11.08.27 | 500 000.00 | 564 765.55 | 0.45 |
| USD	QATAR, STATE OF-REG-S 2.37500% 16-02.06.21 | 600 000.00 | 606 187.50 | 0.49 |
| USD	QATAR, STATE OF-REG-S 4.00000% 19-14.03.29 | 600 000.00 | 676 500.00 | 0.54 |
| USD	ROCHE HOLDINGS INC-REG-S 3.62500% 18-17.09.28 | 250 000.00 | 292 204.43 | 0.23 |
| USD	SHELL INTERNATIONAL FINANCE BV 2.87500% 16-10.05.26 | 250 000.00 | 272 637.08 | 0.22 |
| USD	STATE STREET CORP 2.40000% 20-24.01.30 | 139 000.00 | 147 624.11 | 0.12 |
| USD	TOTAL CAPITAL INTERNATIONAL SA 3.45500% 19-19.02.29 | 300 000.00 | 334 334.10 | 0.27 |
| USD	VISA INC 3.15000% 15-14.12.25 | 300 000.00 | 337 062.57 | 0.27 |
| USD	WALMART INC 3.05000% 19-08.07.26 | 100 000.00 | 111 899.42 | 0.09 |
| USD	WALMART INC 3.70000% 18-26.06.28 | 600 000.00 | 709 960.92 | 0.57 |
| USD	WESTPAC BANKING CORP 2.85000% 16-13.05.26 | 850 000.00 | 911 965.00 | 0.73 |
| Total USD |  | 16 760 774.41 | 13.43 |
| Total Notes, fixed rate |  | 16 760 774.41 | 13.43 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	ASB FINANCE LTD-REG-S 2.12500% 16-01.09.21 | 200 000.00 | 200 518.70 | 0.16 |
| USD	ASIAN DEVELOPMENT BANK 2.62500% 17-12.01.27 | 550 000.00 | 617 498.97 | 0.49 |
| USD	ASIAN DEVELOPMENT BANK 2.75000% 18-19.01.28 | 250 000.00 | 286 996.07 | 0.23 |
| USD	ASIAN DEVELOPMENT BANK 1.75000% 19-19.09.29 | 760 000.00 | 816 932.97 | 0.65 |
| USD	BANK OF AMERICA CORP 3.24800% 16-21.10.27 | 165 000.00 | 180 327.12 | 0.14 |
| USD	COMMONWEALTH BANK OF AUSTRALIA-REG-S 3.15000% 17-19.09.27 | 175 000.00 | 188 496.00 | 0.15 |
| USD	CPPIB CAPITAL INC-REG-S 2.75000% 17-02.11.27 | 250 000.00 | 280 568.35 | 0.23 |
| USD	JAPAN TOBACCO INC-REG-S 2.80000% 16-13.04.26 | 200 000.00 | 209 760.00 | 0.17 |
| USD	KOREA DEVELOPMENT BANK 1.75000% 20-18.02.25 | 225 000.00 | 230 945.96 | 0.19 |
| USD	LANDWIRTSCHAFTLICHE RENTENBANK-REG-S 1.75000% 20-14.01.27 | 200 000.00 | 212 884.00 | 0.17 |
| USD	MDGH - GMTN BV-REG-S 3.00000% 17-19.04.24 | 550 000.00 | 573 375.00 | 0.46 |
| USD	QUEBEC, PROVINCE OF 7.50000% 99-15.09.29 | 400 000.00 | 616 529.48 | 0.49 |
| USD	SP POWERASSETS LTD-REG-S 3.25000% 15-24.11.25 | 500 000.00 | 543 675.00 | 0.44 |
| USD	SUMITOMO MITSUI BANKING CORP-REG-S 2.44000% 19-18.06.24 | 200 000.00 | 207 140.00 | 0.17 |
| USD	TORONTO-DOMINION BANK 2.50000% 15-14.12.20 | 175 000.00 | 177 036.32 | 0.14 |
| USD	TOYOTA MOTOR CREDIT CORP 2.60000% 17-11.01.22 | 500 000.00 | 513 110.20 | 0.41 |
| Total USD |  | 5 855 794.14 | 4.69 |
| Total Medium term notes, fixed rate |  | 5 855 794.14 | 4.69 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	BNG BANK NV-REG-S 2.62500% 14-28.04.21 | 200 000.00 | 203 815.80 | 0.16 |
| USD	BNG BANK NV-REG-S 2.37500% 16-16.03.26 | 80 000.00 | 87 266.86 | 0.07 |
| USD	BRITISH COLUMBIA, PROVINCE OF 2.25000% 16-02.06.26 | 200 000.00 | 216 382.00 | 0.17 |
| USD	EUROPEAN INVESTMENT BANK 3.25000% 14-29.01.24 | 150 000.00 | 165 581.48 | 0.13 |
| USD	ING BANK NV-REG-S 2.62500% 12-05.12.22 | 550 000.00 | 575 972.81 | 0.46 |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 2.50000% 15-29.07.25 | 550 000.00 | 604 560.00 | 0.48 |
| USD	KOREA NATIONAL OIL CORP-REG-S 3.25000% 14-10.07.24 | 600 000.00 | 643 875.00 | 0.52 |
| USD	KREDITANSTALT FUER WIEDERAUFBAU 2.50000% 14-20.11.24 | 120 000.00 | 130 798.28 | 0.11 |
| USD	MICROSOFT CORP 2.40000% 16-08.08.26 | 200 000.00 | 219 723.66 | 0.18 |
| USD	NOVARTIS CAPITAL CORP 3.40000% 14-06.05.24 | 200 000.00 | 220 382.94 | 0.18 |
| USD	ONTARIO, PROVINCE OF 2.50000% 16-27.04.26 | 425 000.00 | 463 233.00 | 0.37 |
| Total USD |  | 3 531 591.83 | 2.83 |
| Total Bonds, fixed rate |  | 3 531 591.83 | 2.83 |

UBS (Lux) Strategy SICAV – Income (USD)
Annual report and audited financial statements as of 31 May 2020
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Treasury notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 5.37500% 01-15.02.31 | 33 000.00 | 49 208.67 | 0.04 |
| USD	AMERICA, UNITED STATES OF 4.37500% 08-15.02.38 | 90 000.00 | 140 030.86 | 0.12 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.08.27 | 155 000.00 | 174 272.06 | 0.14 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.11.27 | 130 000.00 | 146 559.76 | 0.12 |
| USD	AMERICA, UNITED STATES OF 2.62500% 19-15.02.29 | 262 000.00 | 307 348.51 | 0.24 |
| USD	AMERICA, UNITED STATES OF 1.50000% 15-31.01.22 | 1 000.00 | 1 021.96 | 0.00 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.02.27 | 11 000.00 | 12 292.50 | 0.01 |
| USD	AMERICA, UNITED STATES OF 1.75000% 13-15.05.23 | 285 000.00 | 298 047.64 | 0.24 |
| USD	AMERICA, UNITED STATES OF 2.50000% 13-15.08.23 | 1 000.00 | 1 073.28 | 0.00 |
| USD	AMERICA, UNITED STATES OF 2.12500% 15-15.05.25 | 160 000.00 | 174 156.24 | 0.14 |
| USD	AMERICA, UNITED STATES OF 0.62500% 20-15.05.30 | 410 000.00 | 409 119.14 | 0.33 |
| Total USD |  | 1 713 130.62 | 1.38 |
| Total Treasury notes, fixed rate |  | 1 713 130.62 | 1.38 |
| Treasury notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 3.875%/CPI LINKED 99-15.04.29 | 200 000.00 | 434 816.88 | 0.35 |
| USD	AMERICA, UNITED STATES OF 2.375%/CPI LINKED 04-15.01.25 | 410 000.00 | 635 492.01 | 0.51 |
| USD	AMERICA, UNITED STATES OF 0.625%/CPI LINKED 16-15.01.26 | 555 000.00 | 640 543.12 | 0.51 |
| USD	AMERICA, UNITED STATES OF 1.125%/CPI LINKED 11-15.01.21 | 260 000.00 | 306 711.38 | 0.25 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 17-15.01.27 | 275 000.00 | 310 872.76 | 0.25 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI INDEX 13-15.07.23 | 560 000.00 | 637 464.22 | 0.51 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 15-15.07.25 | 560 000.00 | 638 558.07 | 0.51 |
| USD	AMERICA, UNITED STATES OF 0.750%/CPI LINKED 18-15.07.28 | 430 000.00 | 488 943.05 | 0.39 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 20-15.01.30 | 400 000.00 | 425 102.54 | 0.34 |
| Total USD |  | 4 518 504.03 | 3.62 |
| Total Treasury notes, floating rate |  | 4 518 504.03 | 3.62 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 32 379 795.03 | 25.95 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	HSBC HOLDINGS PLC 4.87500% 11-14.01.22 | 375 000.00 | 397 551.00 | 0.32 |
| USD	NESTLE HOLDINGS INC-144A 3.62500% 18-24.09.28 | 300 000.00 | 345 986.34 | 0.28 |
| USD	NEW YORK LIFE GLOBAL FUNDING-REG-S 1.95000% 17-28.09.20 | 300 000.00 | 301 478.13 | 0.24 |
| USD	SCENTRE GROUP TRUST 1 / 2-REG-S 3.75000% 17-23.03.27 | 150 000.00 | 151 012.50 | 0.12 |
| Total USD |  | 1 196 027.97 | 0.96 |
| Total Notes, fixed rate |  | 1 196 027.97 | 0.96 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	GUARDIAN LIFE GLOBAL FUNDING-REG-S 2.00000% 16-26.04.21 | 150 000.00 | 152 047.16 | 0.12 |
| Total USD |  | 152 047.16 | 0.12 |
| Total Medium term notes, fixed rate |  | 152 047.16 | 0.12 |
| Medium term notes, zero coupon |  |  |  |
| USD |  |  |  |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 0.00000% 00-01.05.30 | 150 000.00 | 129 823.13 | 0.10 |
| Total USD |  | 129 823.13 | 0.10 |
| Total Medium term notes, zero coupon |  | 129 823.13 | 0.10 |
| Treasury notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 12-15.07.22 | 360 000.00 | 408 305.78 | 0.33 |
| Total USD |  | 408 305.78 | 0.33 |
| Total Treasury notes, floating rate | 408 305.78 | 0.33 |
| Total Transferable securities and money market instruments traded on another regulated market | 1 886 204.04 | 1.51 |
| UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 |  |  |
| Investment funds, open end |  |  |
| Ireland |  |  |
| USD	SOURCE MARKETS PLC - MSCI USA SOURCE ETF-A	16 075.00 | 1 319 677.13 | 1.06 |
| USD	UBS ETFS PLC - MSCI USA TRN INDEX SF (USD) A-ACC	16 075.00 | 1 325 544.50 | 1.06 |
| Total Ireland | 2 645 221.63 | 2.12 |
| Luxembourg |  |  |
| EUR	UBS (LUX) BOND FUND - EURO HIGH YIELD (EUR) I-X-ACC	17 788.00 | 2 473 310.23 | 1.98 |
| USD	UBS (LUX) BOND SICAV - SHORT TERM USD CORPORATES (USD) U-X-A	1 382.00 | 15 273 076.26 | 12.24 |
| USD	UBS (LUX) BOND SICAV - USD CORPORATES U-X-ACC	596.00 | 7 345 038.44 | 5.88 |
| USD	UBS (LUX) BOND SICAV - USD HIGH YIELD U-X-ACC	274.00 | 5 236 789.38 | 4.20 |

UBS (Lux) Strategy SICAV – Income (USD) Annual report and audited financial statements as of 31 May 2020
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | UBS (LUX) BOND SICAV - EMERGING ECONOMIES CORP (USD)-I-X-DIS | 38 428.00 | 4 050 695.48 | 3.25 |
| USD | UBS (LUX) BOND SICAV - USD INVEST GRADE CORP USD U X ACC | 1 943.00 | 22 772 096.01 | 18.25 |
| USD | UBS (LUX) EMERGING ECONOMIES FUND-GLOBAL BONDS (USD)-U-X ACC | 552.00 | 7 125 641.04 | 5.71 |
| USD | UBS (LUX) EQUITY FUND - GLOBAL SUSTAINABLE (USD) U-X-ACC | 400.00 | 4 122 512.00 | 3.30 |
| USD | UBS (LUX) EQUITY SICAV - GLB EM OPP(USD)-U-X-ACC | 15.00 | 397 438.50 | 0.32 |
| USD | UBS (LUX) EQUITY SICAV-GLOBAL QUANTITATIVE (USD) U-X-ACC | 304.00 | 4 191 910.72 | 3.36 |
| USD | UBS (LUX) EQUITY SICAV - GLOBAL OPPORTUNITY (USD) U-X-ACC | 232.00 | 2 140 000.48 | 1.71 |
| USD | UBS (LUX) INST FUND-KEY SEL. GLOBAL EQUITY FA-USD | 176.00 | 4 188 368.80 | 3.36 |
| USD | UBS (LUX) INSTITUTION SICAV-EQUITIES GLB (EX USA) PASSIVE XA | 15 385.00 | 1 392 342.50 | 1.11 |
| USD | UBS (LUX) MONEY MARKET FUND - USD U-X-ACC | 146.00 | 1 634 858.36 | 1.31 |
| Total Luxembourg |  | 82 344 078.20 | 65.98 |
| Total Investment funds, open end |  | 84 989 299.83 | 68.10 |
| Total UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 |  | 84 989 299.83 | 68.10 |
| Derivative instruments listed on an official stock exchange |  |  |  |
| Options on indices, classic-styled |  |  |  |
| USD |  |  |  |
| USD	S&P 500 INDEX CALL 2600.00000 18.09.20 | 5.00 | 241 350.00 | 0.19 |
| USD	S&P 500 INDEX PUT 2225.00000 18.09.20 | -5.00 | -11 200.00 | -0.01 |
| Total USD |  | 230 150.00 | 0.18 |
| Total Options on indices, classic-styled |  | 230 150.00 | 0.18 |
| Total Derivative instruments listed on an official stock exchange |  | 230 150.00 | 0.18 |
| Total investments in securities |  | 119 485 448.90 | 95.74 |

| Derivative instruments |  |
| --- | --- |
| Derivative instruments listed on an official stock exchange |
| Financial Futures on bonds |
|  |  |  |  |
| USD	US 5YR TREASURY NOTE FUTURE 30.09.20 | -8.00 | -1 500.00 | 0.00 |
| Total Financial Futures on bonds |  | -1 500.00 | 0.00 |
| Financial Futures on Indices |  |  |  |
|  |  |  |  |
| EUR	EURO STOXX 50 INDEX FUTURE 19.06.20 | -130.00 | -921 282.55 | -0.74 |
| CHF	SWISS MARKET INDEX FUTURE 19.06.20 | 19.00 | 450 192.57 | 0.36 |
| GBP	FTSE 100 INDEX FUTURE 19.06.20 | 72.00 | 593 249.45 | 0.48 |
| USD	S&P500 EMINI FUTURE 19.06.20 | 3.00 | 16 275.00 | 0.01 |
| AUD	SPI 200 INDEX FUTURES 18.06.20 | -4.00 | -44 083.31 | -0.04 |
| JPY	NIKKEI 225 (OSE) INDEX FUTURE 11.06.20 | -6.00 | -169 861.24 | -0.14 |
| CAD	S&P/TSX 60 INDEX FUTURE 18.06.20 | -5.00 | -66 596.73 | -0.04 |
| Total Financial Futures on Indices | -142 106.81 | -0.11 |
| Total Derivative instruments listed on an official stock exchange | -143 606.81 | -0.11 |
| Derivative instruments not listed on an official stock exchange and not traded on another regulated market |  |  |
| Credit default swaps* |  |  |
|  |  |  |
| USD	ICE/CDX.NA.IG.34 CDI REC 1.00000% 20-20.06.25	3 000 000.00 | 39 042.67 | 0.03 |
| Total Credit default swaps | 39 042.67 | 0.03 |
| Total Derivative instruments not listed on an official stock exchange and not traded on another regulated market | 39 042.67 | 0.03 |
| Total Derivative instruments | -104 564.14 | -0.08 |
| Forward Foreign Exchange contracts |  |  |
| Forward Foreign Exchange contracts (Purchase/Sale) |  |  |

| USD | 52 584.01 | SGD | 75 000.00 | 24.6.2020 | -482.69 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 2 347 813.71 | EUR | 2 158 008.25 | 24.6.2020 | -53 774.21 | -0.04 |
| USD | 727 807.78 | AUD | 1 147 460.47 | 24.6.2020 | -33 890.34 | -0.04 |
| GBP | 1 650 157.90 | USD | 2 039 659.52 | 24.6.2020 | 632.14 | 0.00 |
| USD | 561 875.47 | CAD | 794 617.78 | 24.6.2020 | -13 026.86 | -0.01 |
| USD | 65 385.05 | NOK | 694 521.10 | 24.6.2020 | -6 080.10 | 0.00 |
| USD | 768 631.24 | JPY | 82 644 922.00 | 24.6.2020 | 1 266.07 | 0.00 |
| USD | 358 850.25 | CHF | 347 025.42 | 24.6.2020 | -2 616.99 | 0.00 |
| USD | 105 019.91 | DKK | 720 000.00 | 24.6.2020 | -2 481.39 | 0.00 |
| NZD | 5 000.00 | USD | 2 996.89 | 24.6.2020 | 99.04 | 0.00 |
| USD | 103 155.98 | HKD | 800 000.00 | 24.6.2020 | -5.94 | 0.00 |
| USD | 69 934.00 | SEK | 702 697.98 | 24.6.2020 | -4 691.50 | 0.00 |
| GBP | 68 000.00 | USD | 83 788.87 | 24.6.2020 | 287.83 | 0.00 |
| USD | 67 096.84 | CHF | 65 000.00 | 24.6.2020 | -608.20 | 0.00 |
| USD | 54 270.19 | EUR | 50 000.00 | 24.6.2020 | -1 373.43 | 0.00 |
| USD | 32 253.23 | CAD | 45 000.00 | 24.6.2020 | -304.06 | 0.00 |
| USD | 2 242 684.25 | EUR | 2 069 114.51 | 22.7.2020 | -61 355.58 | -0.05 |
| USD | 295 880.66 | CHF | 286 971.10 | 22.7.2020 | -3 280.01 | 0.00 |
| USD | 89 373.73 | DKK | 615 000.00 | 22.7.2020 | -2 507.16 | 0.00 |
| GBP | 2 168 941.42 | USD | 2 678 814.00 | 22.7.2020 | 3 219.27 | 0.00 |

* Positive nominal: the subfund is “Receiver”, negative nominal: the subfund is “Payer”.
UBS (Lux) Strategy SICAV – Income (USD)
Annual report and audited financial statements as of 31 May 2020
| 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 (Continued)
Forward Foreign Exchange contracts (Purchase/Sale)
| USD | 769 489.35 | JPY | 82 624 073.00 | 22.7.2020 | 1 980.55 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| CAD | 206 118.20 | USD | 147 130.49 | 22.7.2020 | 1 995.84 | 0.00 |
| USD | 70 995.76 | SEK | 697 396.45 | 22.7.2020 | -3 085.62 | 0.00 |
| USD | 104 417.25 | HKD | 810 000.00 | 22.7.2020 | 41.73 | 0.00 |
| USD | 52 952.27 | SGD | 75 000.00 | 22.7.2020 | -119.91 | 0.00 |
| USD | 67 476.72 | NOK | 692 981.75 | 22.7.2020 | -3 843.99 | 0.00 |
| AUD | 549 876.66 | USD | 356 928.79 | 22.7.2020 | 8 080.01 | 0.00 |
| GBP | 1 020 000.00 | USD | 1 242 603.78 | 24.6.2020 | 18 546.74 | 0.01 |
| GBP | 1 010 000.00 | USD | 1 230 596.12 | 22.7.2020 | 18 332.77 | 0.01 |
| USD | 92 759.64 | EUR | 85 000.00 | 22.7.2020 | -1 891.18 | 0.00 |
| USD | 92 704.22 | EUR | 85 000.00 | 24.6.2020 | -1 889.94 | 0.00 |
| USD | 115 155.60 | EUR | 105 000.00 | 22.7.2020 | -1 766.00 | 0.00 |
| USD | 115 087.25 | EUR | 105 000.00 | 24.6.2020 | -1 764.36 | 0.00 |
| USD | 78 045.31 | EUR | 70 000.00 | 22.7.2020 | 97.58 | 0.00 |
| USD | 77 997.71 | EUR | 70 000.00 | 24.6.2020 | 96.64 | 0.00 |
| Total Forward Foreign Exchange contracts (Purchase/Sale) | -146 163.25 | -0.12 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 5 445 785.37 | 4.36 |
| Bank overdraft and other short-term liabilities | -32 598.44 | -0.03 |
| Other assets and liabilities | 151 936.10 | 0.13 |
| Total net assets | 124 799 844.54 | 100.00 |

UBS (Lux) Strategy SICAV – Income (USD) Annual report and audited financial statements as of 31 May 2020

Translation (ENDE, 2020-05-31):
# UBS (Lux) Strategy SICAV – Income (USD)
| Dreijahresvergleich |  |
| --- | --- |
|  | ISIN | 31.5.2020 | 31.5.2019 | 31.5.2018 |
| Nettovermögen in USD |  | 124 799 844.54 | 137 065 284.80 | 151 457 204.17 |
| Klasse K-1-acc | LU1097765488 |  |  |  |
| Aktien im Umlauf |  | 6.9000 | 8.4000 | 8.4000 |
| Nettoinventarwert pro Aktie in USD |  | 5 790 222.48 | 5 635 043.21 | 5 458 556.40 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 5 790 222.48 | 5 635 043.21 | 5 458 556.40 |
| Klasse P-acc | LU0994951548 |  |  |  |
| Aktien im Umlauf |  | 584 895.7420 | 634 957.5850 | 782 024.8240 |
| Nettoinventarwert pro Aktie in USD |  | 117.41 | 114.74 | 111.62 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 117.41 | 114.74 | 111.62 |
| Klasse (JPY hedged) P-acc 2 | LU1411405076 |  |  |  |
| Aktien im Umlauf |  | - | - | 31 126.2220 |
| Nettoinventarwert pro Aktie in JPY |  | - | - | 10 167 |
| Ausgabe- und Rücknahmepreis pro Aktie in JPY 1 |  | - | - | 10 167 |
| Klasse P-dist | LU0994670023 |  |  |  |
| Aktien im Umlauf |  | 65 992.6310 | 71 254.3640 | 81 278.5880 |
| Nettoinventarwert pro Aktie in USD |  | 110.26 | 109.50 | 107.37 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 110.26 | 109.50 | 107.37 |
| Klasse Q-acc | LU1240801693 |  |  |  |
| Aktien im Umlauf |  | 73 722.2180 | 77 412.4950 | 57 784.4800 |
| Nettoinventarwert pro Aktie in USD |  | 116.16 | 112.90 | 109.23 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 116.16 | 112.90 | 109.23 |
| Klasse Q-dist | LU1240801776 |  |  |  |
| Aktien im Umlauf |  | 3 060.7010 | 3 060.7010 | 3 437.6320 |
| Nettoinventarwert pro Aktie in USD |  | 108.77 | 108.01 | 105.92 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 108.77 | 108.01 | 105.92 |
| 1  Siehe Erläuterung 1 2  Die Aktienklasse (JPY hedged) P-acc war bis zum 20.2.2019 im Umlauf |  |  |  |  |
| Performance |  |  |  |  |
|  | Währung | 2019/2020 | 2018/2019 | 2017/2018 |
| Klasse K-1-acc | USD | 2.8% | 3.2% | 1.1% |
| Klasse P-acc | USD | 2.3% | 2.8% | 0.7% |
| Klasse (JPY hedged) P-acc 1 | JPY | - | - | -1.3% |
| Klasse P-dist | USD | 2.3% | 2.8% | 0.7% |
| Klasse Q-acc | USD | 2.9% | 3.4% | 1.2% |
| Klasse Q-dist | USD | 2.9% | 3.4% | 1.2% |

1 
Die Aktienklasse (JPY hedged) P-acc war bis zum 20.2.2019 im Umlauf. Auf Grund dessen liegen keine Daten für die Berechnung der Performance im Jahr 2020 vor. Die historische Performance stellt keinen Indikator für die laufende oder zukünftige Performance dar.
Die Performancedaten lassen die bei der Ausgabe und Rücknahme der Aktien erhobenen Kommissionen und Kosten unberücksichtigt. Die Performancedaten sind ungeprüft.
Der Subfonds verfügt über keine Benchmark.
UBS (Lux) Strategy SICAV – Income (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020

## Bericht des Portfolio Managers
Das Rechnungsjahr vom 1. Juni 2019 bis zum 31. Mai 2020 war zunächst vom reichlichen Angebot an Zentral- bankliquidität und der Markterwartung anhaltend nied- riger Zinssätze geprägt. Vor diesem Hintergrund erzielten sowohl traditionelle defensive als auch risikoreichere Anlagen positive relative Erträge.
Der Subfonds erzielte im Rechnungsjahr einen positiven Ertrag, zu dem unter anderem die kräftige Erholung als sicher geltender Anlagen in USD ab April 2020 beitrug.
Die bedeutendste Entwicklung seit dem Jahresende war der Ausbruch von Covid-19, die zunächst in China auf- trat, aber mittlerweile die meisten Kontinente erfasst hat. Derzeit ist es nicht möglich, abzuschätzen, wie dieses neu entstehende Risiko die Unternehmen in unserem Portfo- lio genau beeinflussen wird. Doch die Besorgnis über die Auswirkungen auf die Weltwirtschaft nimmt zu. An den Finanzmärkten ist es in den letzten Wochen zu bedeuten- den Korrekturen gekommen. Der Verwaltungsrat und die Manager behalten die Bemühungen der Regierungen zur Eindämmung der Virusausbreitung aufmerksam im Auge und beobachten die möglichen wirtschaftlichen Auswir- kungen auf die Unternehmen in unserem Portfolio.
UBS (Lux) Strategy SICAV – Income (USD)
Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020

## Struktur des Wertpapierbestandes
Geographische Aufteilung in % des Nettovermögens	
Luxemburg	66.51
Vereinigte Staaten	15.57
Irland	2.12
Kanada	1.64
Niederlande	1.37
Philippinen	1.15
Katar	1.03
Australien	1.00
Deutschland	0.99
Südkorea	0.96
Kuwait	0.71
Grossbritannien	0.52
Singapur	0.44
Supranational	0.42
Vereinigte Arabische Emirate	0.34
Japan	0.33
Frankreich	0.27
Norwegen	0.21
Total	95.74
Neuseeland	0.16
Wirtschaftliche Aufteilung in % des Nettovermögens	
| Anlagefonds | 68.10 |
| --- | --- |
| Länder- & Zentralregierungen | 7.06 |
| Banken & Kreditinstitute | 3.82 |
| Finanz- & Beteiligungsgesellschaften | 3.74 |
| Supranationale Organisationen | 3.23 |
| Computer & Netzwerkausrüster | 2.18 |
| Internet, Software & IT-Dienste | 1.73 |
| Kantone, Bundesstaaten | 1.61 |
| Erdöl | 1.20 |
| Diverse Dienstleistungen | 0.96 |
| Detailhandel, Warenhäuser | 0.66 |
| Pharmazeutik, Kosmetik & medizinische Produkte | 0.60 |
| Diverse Konsumgüter | 0.45 |
| Biotechnologie | 0.23 |
| Tabak & alkoholische Getränke | 0.17 |
| Total | 95.74 |


## Nettovermögensaufstellung
Aktiva	31.5.2020
USD
Wertpapierbestand, Einstandswert	109 146 089.35
| Wertpapierbestand, nicht realisierte Werterhöhung (-minderung) | 	10 339 359.55	 |
| --- | --- |
| Total Wertpapierbestand (Erläuterung 1) | 119 485 448.90 |
| Bankguthaben, Sicht- und Fristgelder | 3 891 371.97 |
| Andere liquide Mittel (Margins) | 1 554 413.40 |
| Zinsforderungen aus Wertpapieren | 198 036.70 |
| Sonstige Forderungen | 38 143.39 |
| Zinsforderungen aus liquiden Mitteln | 601.28 |
| Nicht realisierter Kursgewinn (-verlust) aus Finanzterminkontrakten (Erläuterung 1) | -143 606.81 |
| Nicht realisierter Kursgewinn (-verlust) aus Devisenterminkontrakten (Erläuterung 1) | -146 163.25 |
| Nicht realisierter Kursgewinn (-verlust) aus Swaps (Erläuterung 1) | 39 042.67 |
| Total Aktiva | 124 917 288.25 |
|  |  |
| Passiva |  |
| Kontokorrentkredit | -32 598.44 |
| Zinsverbindlichkeiten aus Kontokorrentkredit | -17.92 |
| Verbindlichkeiten aus Wertpapierkäufen (Erläuterung 1) | -203.00 |
| Rückstellungen für pauschale Verwaltungskommission (Erläuterung 2) | -53 302.35 |
| Rückstellungen für Abonnementsabgabe (Erläuterung 3) | -3 440.78 |
| Rückstellungen für sonstige Kommissionen und Gebühren (Erläuterung 2) | 	-27 881.22	 |
| Total Rückstellungen für Aufwendungen | -84 624.35 |
| Total Passiva | -117 443.71 |
|  |  |
| Nettovermögen am Ende des Geschäftsjahres | 124 799 844.54 |
| Ertrags- und Aufwandsrechnung | USD |
| Erträge | 1.6.2019-31.5.2020 |
| Zinsertrag auf liquide Mittel | 30 813.40 |
| Zinsen auf Wertpapiere | 1 062 946.44 |
| Zinsertrag auf Swaps (Erläuterung 1) | 27 441.43 |
| Dividenden | 149 431.20 |
| Erträge aus Securities Lending (Erläuterung 15) | 27 365.17 |
| Sonstige Erträge (Erläuterung 4) | 38 409.80 |
| Total Erträge | 1 336 407.44 |
|  |  |
| Aufwendungen |  |
| Zinsaufwand auf Swaps (Erläuterung 1) | -2 540.83 |
| Kosten aus Securities Lending (Erläuterung 15) | -10 946.07 |
| Pauschale Verwaltungskommission (Erläuterung 2) | -1 505 438.51 |
| Abonnementsabgabe (Erläuterung 3) | -24 809.41 |
| Sonstige Kommissionen und Gebühren (Erläuterung 2) | -27 729.94 |
| Zinsaufwand auf liquide Mittel und Kontokorrentkredit | -5 471.60 |
| Total Aufwendungen | -1 576 936.36 |
|  |  |
| Nettoerträge (-verluste) aus Anlagen | -240 528.92 |
|  |  |
| Realisierte Gewinne (Verluste) (Erläuterung 1) |  |
| Realisierter Kursgewinn (-verlust) aus marktbewerteten Wertpapieren ausser Optionen | 4 976 529.54 |
| Realisierter Kursgewinn (-verlust) aus Optionen | 118 668.22 |
| Realisierter Kursgewinn (-verlust) aus Finanzterminkontrakten | -2 104 110.89 |
| Realisierter Kursgewinn (-verlust) aus Devisenterminkontrakten | -686 309.15 |
| Realisierter Kursgewinn (-verlust) aus Swaps | 110 118.20 |
| Realisierter Währungsgewinn (-verlust) | 98 686.36 |
| Total der realisierten Gewinne (Verluste) | 2 513 582.28 |
|  |  |
| Realisierter Nettogewinn (-verlust) des Geschäftsjahres | 2 273 053.36 |
|  |  |
| Veränderungen der nicht realisierten Werterhöhung (-minderung) (Erläuterung 1) |  |
| Nicht realisierte Werterhöhung (-minderung) marktbewerteter Wertpapiere ausser Optionen | 1 464 929.52 |
| Nicht realisierte Werterhöhung (-minderung) von Optionen | 322 130.00 |
| Nicht realisierte Werterhöhung (-minderung) renditebewerteter Wertpapiere und Geldmarktinstrumente | 3 360.34 |
| Nicht realisierte Werterhöhung (-minderung) von Finanzterminkontrakten | -144 466.44 |
| Nicht realisierte Werterhöhung (-minderung) von Devisenterminkontrakten | -256 232.90 |
| Nicht realisierte Werterhöhung (-minderung) von Swaps | -27 501.85 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | 1 362 218.67 |
|  |  |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | 3 635 272.03 |

UBS (Lux) Strategy SICAV – Income (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020
| Veränderungen des Nettovermögens |  |
| --- | --- |
|  |  | USD |
|  |  | 1.6.2019-31.5.2020 |
| Nettovermögen zu Beginn des Geschäftsjahres |  | 137 065 284.80 |
| Zeichnungen |  | 6 416 015.45 |
| Rücknahmen |  | 	-22 182 519.80	 |
| Total Mittelzufluss (-abfluss) |  | -15 766 504.35 |
| Ausbezahlte Dividende |  | -134 207.94 |
| Nettoerträge (-verluste) aus Anlagen |  | -240 528.92 |
| Total der realisierten Gewinne (Verluste) |  | 2 513 582.28 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) |  | 	1 362 218.67	 |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit |  | 3 635 272.03 |
| Nettovermögen am Ende des Geschäftsjahres |  | 124 799 844.54 |
| Entwicklung der Aktien im Umlauf |  |  |
|  |  | 1.6.2019-31.5.2020 |
| Klasse |  | K-1-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres |  | 8.4000 |
| Anzahl der ausgegebenen Aktien |  | 0.2000 |
| Anzahl der zurückgegebenen Aktien |  | -1.7000 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres |  | 6.9000 |
| Klasse |  | P-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres |  | 634 957.5850 |
| Anzahl der ausgegebenen Aktien |  | 39 304.8990 |
| Anzahl der zurückgegebenen Aktien |  | -89 366.7420 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres |  | 584 895.7420 |
| Klasse |  | P-dist |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres |  | 71 254.3640 |
| Anzahl der ausgegebenen Aktien |  | 2 334.2290 |
| Anzahl der zurückgegebenen Aktien |  | -7 595.9620 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres |  | 65 992.6310 |
| Klasse |  | Q-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres |  | 77 412.4950 |
| Anzahl der ausgegebenen Aktien |  | 3 146.7990 |
| Anzahl der zurückgegebenen Aktien |  | -6 837.0760 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres |  | 73 722.2180 |
| Klasse |  | Q-dist |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres |  | 3 060.7010 |
| Anzahl der ausgegebenen Aktien |  | 0.0000 |
| Anzahl der zurückgegebenen Aktien |  | 0.0000 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres |  | 3 060.7010 |
| Jährliche Ausschüttung 1 |  |  |
| UBS (Lux) Strategy SICAV – Income (USD)	Ex-Date | Pay-Date | Währung	Betrag pro Aktie |
| P-dist	1.8.2019 | 6.8.2019 | USD	1.78 |
| Q-dist	1.8.2019 | 6.8.2019 | USD	2.35 |
| 1  Siehe Erläuterung 5 |  |  |

UBS (Lux) Strategy SICAV – Income (USD)
Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020

## Aufstellung der Wertpapierbestände und anderer Nettovermögenswerte per 31. Mai 2020
| Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
| Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden |  |  |  |
| Notes, fester Zins |  |  |  |
| USD |  |  |  |
| USD	ABU DHABI,GOVERNMENT OF-REG-S 3.12500% 17-11.10.27 | 400 000.00 | 429 000.00 | 0.34 |
| USD	ALBERTA, PROVINCE OF 3.30000% 18-15.03.28 | 250 000.00 | 288 226.48 | 0.23 |
| USD	ALPHABET INC 1.99800% 16-15.08.26 | 330 000.00 | 356 973.64 | 0.29 |
| USD	AMERICAN EXPRESS CO 3.40000% 18-27.02.23 | 115 000.00 | 122 562.20 | 0.10 |
| USD	APPLE INC 1.65000% 20-11.05.30 | 246 000.00 | 249 601.17 | 0.20 |
| USD	APPLE INC 2.20000% 19-11.09.29 | 400 000.00 | 429 384.88 | 0.34 |
| USD	APPLE INC 2.45000% 16-04.08.26 | 380 000.00 | 414 224.09 | 0.33 |
| USD	APPLE INC 2.90000% 17-12.09.27 | 650 000.00 | 728 205.72 | 0.58 |
| USD	APPLE INC 3.20000% 17-11.05.27 | 750 000.00 | 846 308.63 | 0.68 |
| USD	APPLE INC 3.25000% 16-23.02.26 | 50 000.00 | 56 396.92 | 0.04 |
| USD	BERKSHIRE HATHAWAY INC 3.12500% 16-15.03.26 | 400 000.00 | 447 208.64 | 0.36 |
| USD	CHEVRON CORP 2.23600% 20-11.05.30 | 250 000.00 | 262 670.25 | 0.21 |
| USD	CORPORACION ANDINA DE FOMENTO 4.37500% 12-15.06.22 | 225 000.00 | 235 408.50 | 0.19 |
| USD	EQUINOR ASA 3.62500% 18-10.09.28 | 230 000.00 | 260 373.36 | 0.21 |
| USD	EUROPEAN INVESTMENT BANK 2.37500% 17-24.05.27 | 450 000.00 | 501 240.15 | 0.40 |
| USD	EXXON MOBIL CORP 3.04300% 16-01.03.26 | 300 000.00 | 332 320.02 | 0.27 |
| USD	HSBC BANK PLC-REG-S 4.12500% 10-12.08.20 | 250 000.00 | 251 764.45 | 0.20 |
| USD	INTER-AMERICAN DEVELOPMENT BANK 2.25000% 19-18.06.29 | 600 000.00 | 670 909.14 | 0.54 |
| USD	JOHNSON & JOHNSON 2.45000% 16-01.03.26 | 475 000.00 | 519 555.05 | 0.42 |
| USD	JOHNSON & JOHNSON 2.90000% 17-15.01.28 | 200 000.00 | 224 889.18 | 0.18 |
| USD	KOREA HYDRO&NUCLEAR POWER CO LTD-REG-S 3.12500% 17-25.07.27 | 300 000.00 | 321 562.50 | 0.26 |
| USD	KREDITANSTALT FUER WIEDERAUFBAU 2.00000% 15-02.05.25 | 95 000.00 | 101 880.85 | 0.08 |
| USD	KREDITANSTALT FUER WIEDERAUFBAU 2.87500% 18-03.04.28 | 680 000.00 | 789 636.40 | 0.63 |
| USD	KUWAIT INTERNATIONAL GOVT BOND-REG-S 3.50000% 17-20.03.27 | 800 000.00 | 882 000.00 | 0.71 |
| USD	MICROSOFT CORP 2.87500% 17-06.02.24 | 250 000.00 | 270 821.30 | 0.22 |
| USD	MICROSOFT CORP 3.30000% 17-06.02.27 | 1 030 000.00 | 1 182 955.11 | 0.95 |
| USD	MICROSOFT CORP 4.00000% 11-08.02.21 | 125 000.00 | 128 149.82 | 0.10 |
| USD	NOVARTIS CAPITAL CORP 3.10000% 17-17.05.27 | 440 000.00 | 491 405.28 | 0.39 |
| USD	PROCTER & GAMBLE CO 2.85000% 17-11.08.27 | 500 000.00 | 564 765.55 | 0.45 |
| USD	QATAR, STATE OF-REG-S 2.37500% 16-02.06.21 | 600 000.00 | 606 187.50 | 0.49 |
| USD	QATAR, STATE OF-REG-S 4.00000% 19-14.03.29 | 600 000.00 | 676 500.00 | 0.54 |
| USD	ROCHE HOLDINGS INC-REG-S 3.62500% 18-17.09.28 | 250 000.00 | 292 204.43 | 0.23 |
| USD	SHELL INTERNATIONAL FINANCE BV 2.87500% 16-10.05.26 | 250 000.00 | 272 637.08 | 0.22 |
| USD	STATE STREET CORP 2.40000% 20-24.01.30 | 139 000.00 | 147 624.11 | 0.12 |
| USD	TOTAL CAPITAL INTERNATIONAL SA 3.45500% 19-19.02.29 | 300 000.00 | 334 334.10 | 0.27 |
| USD	VISA INC 3.15000% 15-14.12.25 | 300 000.00 | 337 062.57 | 0.27 |
| USD	WALMART INC 3.05000% 19-08.07.26 | 100 000.00 | 111 899.42 | 0.09 |
| USD	WALMART INC 3.70000% 18-26.06.28 | 600 000.00 | 709 960.92 | 0.57 |
| USD	WESTPAC BANKING CORP 2.85000% 16-13.05.26 | 850 000.00 | 911 965.00 | 0.73 |
| Total USD |  | 16 760 774.41 | 13.43 |
| Total Notes, fester Zins |  | 16 760 774.41 | 13.43 |
| Medium-Term Notes, fester Zins |  |  |  |
| USD |  |  |  |
| USD	ASB FINANCE LTD-REG-S 2.12500% 16-01.09.21 | 200 000.00 | 200 518.70 | 0.16 |
| USD	ASIAN DEVELOPMENT BANK 2.62500% 17-12.01.27 | 550 000.00 | 617 498.97 | 0.49 |
| USD	ASIAN DEVELOPMENT BANK 2.75000% 18-19.01.28 | 250 000.00 | 286 996.07 | 0.23 |
| USD	ASIAN DEVELOPMENT BANK 1.75000% 19-19.09.29 | 760 000.00 | 816 932.97 | 0.65 |
| USD	BANK OF AMERICA CORP 3.24800% 16-21.10.27 | 165 000.00 | 180 327.12 | 0.14 |
| USD	COMMONWEALTH BANK OF AUSTRALIA-REG-S 3.15000% 17-19.09.27 | 175 000.00 | 188 496.00 | 0.15 |
| USD	CPPIB CAPITAL INC-REG-S 2.75000% 17-02.11.27 | 250 000.00 | 280 568.35 | 0.23 |
| USD	JAPAN TOBACCO INC-REG-S 2.80000% 16-13.04.26 | 200 000.00 | 209 760.00 | 0.17 |
| USD	KOREA DEVELOPMENT BANK 1.75000% 20-18.02.25 | 225 000.00 | 230 945.96 | 0.19 |
| USD	LANDWIRTSCHAFTLICHE RENTENBANK-REG-S 1.75000% 20-14.01.27 | 200 000.00 | 212 884.00 | 0.17 |
| USD	MDGH - GMTN BV-REG-S 3.00000% 17-19.04.24 | 550 000.00 | 573 375.00 | 0.46 |
| USD	QUEBEC, PROVINCE OF 7.50000% 99-15.09.29 | 400 000.00 | 616 529.48 | 0.49 |
| USD	SP POWERASSETS LTD-REG-S 3.25000% 15-24.11.25 | 500 000.00 | 543 675.00 | 0.44 |
| USD	SUMITOMO MITSUI BANKING CORP-REG-S 2.44000% 19-18.06.24 | 200 000.00 | 207 140.00 | 0.17 |
| USD	TORONTO-DOMINION BANK 2.50000% 15-14.12.20 | 175 000.00 | 177 036.32 | 0.14 |
| USD	TOYOTA MOTOR CREDIT CORP 2.60000% 17-11.01.22 | 500 000.00 | 513 110.20 | 0.41 |
| Total USD |  | 5 855 794.14 | 4.69 |
| Total Medium-Term Notes, fester Zins |  | 5 855 794.14 | 4.69 |
| Anleihen, fester Zins |  |  |  |
| USD |  |  |  |
| USD	BNG BANK NV-REG-S 2.62500% 14-28.04.21 | 200 000.00 | 203 815.80 | 0.16 |
| USD	BNG BANK NV-REG-S 2.37500% 16-16.03.26 | 80 000.00 | 87 266.86 | 0.07 |
| USD	BRITISH COLUMBIA, PROVINCE OF 2.25000% 16-02.06.26 | 200 000.00 | 216 382.00 | 0.17 |
| USD	EUROPEAN INVESTMENT BANK 3.25000% 14-29.01.24 | 150 000.00 | 165 581.48 | 0.13 |
| USD	ING BANK NV-REG-S 2.62500% 12-05.12.22 | 550 000.00 | 575 972.81 | 0.46 |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 2.50000% 15-29.07.25 | 550 000.00 | 604 560.00 | 0.48 |
| USD	KOREA NATIONAL OIL CORP-REG-S 3.25000% 14-10.07.24 | 600 000.00 | 643 875.00 | 0.52 |
| USD	KREDITANSTALT FUER WIEDERAUFBAU 2.50000% 14-20.11.24 | 120 000.00 | 130 798.28 | 0.11 |
| USD	MICROSOFT CORP 2.40000% 16-08.08.26 | 200 000.00 | 219 723.66 | 0.18 |
| USD	NOVARTIS CAPITAL CORP 3.40000% 14-06.05.24 | 200 000.00 | 220 382.94 | 0.18 |
| USD	ONTARIO, PROVINCE OF 2.50000% 16-27.04.26 | 425 000.00 | 463 233.00 | 0.37 |
| Total USD |  | 3 531 591.83 | 2.83 |
| Total Anleihen, fester Zins |  | 3 531 591.83 | 2.83 |

UBS (Lux) Strategy SICAV – Income (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020
| Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
| Treasury-Notes, fester Zins |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 5.37500% 01-15.02.31 | 33 000.00 | 49 208.67 | 0.04 |
| USD	AMERICA, UNITED STATES OF 4.37500% 08-15.02.38 | 90 000.00 | 140 030.86 | 0.12 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.08.27 | 155 000.00 | 174 272.06 | 0.14 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.11.27 | 130 000.00 | 146 559.76 | 0.12 |
| USD	AMERICA, UNITED STATES OF 2.62500% 19-15.02.29 | 262 000.00 | 307 348.51 | 0.24 |
| USD	AMERICA, UNITED STATES OF 1.50000% 15-31.01.22 | 1 000.00 | 1 021.96 | 0.00 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.02.27 | 11 000.00 | 12 292.50 | 0.01 |
| USD	AMERICA, UNITED STATES OF 1.75000% 13-15.05.23 | 285 000.00 | 298 047.64 | 0.24 |
| USD	AMERICA, UNITED STATES OF 2.50000% 13-15.08.23 | 1 000.00 | 1 073.28 | 0.00 |
| USD	AMERICA, UNITED STATES OF 2.12500% 15-15.05.25 | 160 000.00 | 174 156.24 | 0.14 |
| USD	AMERICA, UNITED STATES OF 0.62500% 20-15.05.30 | 410 000.00 | 409 119.14 | 0.33 |
| Total USD |  | 1 713 130.62 | 1.38 |
| Total Treasury-Notes, fester Zins |  | 1 713 130.62 | 1.38 |
| Treasury-Notes, variabler Zins |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 3.875%/CPI LINKED 99-15.04.29 | 200 000.00 | 434 816.88 | 0.35 |
| USD	AMERICA, UNITED STATES OF 2.375%/CPI LINKED 04-15.01.25 | 410 000.00 | 635 492.01 | 0.51 |
| USD	AMERICA, UNITED STATES OF 0.625%/CPI LINKED 16-15.01.26 | 555 000.00 | 640 543.12 | 0.51 |
| USD	AMERICA, UNITED STATES OF 1.125%/CPI LINKED 11-15.01.21 | 260 000.00 | 306 711.38 | 0.25 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 17-15.01.27 | 275 000.00 | 310 872.76 | 0.25 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI INDEX 13-15.07.23 | 560 000.00 | 637 464.22 | 0.51 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 15-15.07.25 | 560 000.00 | 638 558.07 | 0.51 |
| USD	AMERICA, UNITED STATES OF 0.750%/CPI LINKED 18-15.07.28 | 430 000.00 | 488 943.05 | 0.39 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 20-15.01.30 | 400 000.00 | 425 102.54 | 0.34 |
| Total USD |  | 4 518 504.03 | 3.62 |
| Total Treasury-Notes, variabler Zins | 4 518 504.03 | 3.62 |
| Total Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden | 32 379 795.03 | 25.95 |
| Wertpapiere und Geldmarktinstrumente, die an einem anderen geregelten Markt gehandelt werden |  |  |
| Notes, fester Zins |  |  |
| USD |  |  |
| USD	HSBC HOLDINGS PLC 4.87500% 11-14.01.22	375 000.00 | 397 551.00 | 0.32 |
| USD	NESTLE HOLDINGS INC-144A 3.62500% 18-24.09.28	300 000.00 | 345 986.34 | 0.28 |
| USD	NEW YORK LIFE GLOBAL FUNDING-REG-S 1.95000% 17-28.09.20	300 000.00 | 301 478.13 | 0.24 |
| USD	SCENTRE GROUP TRUST 1 / 2-REG-S 3.75000% 17-23.03.27	150 000.00 | 151 012.50 | 0.12 |
| Total USD | 1 196 027.97 | 0.96 |
| Total Notes, fester Zins | 1 196 027.97 | 0.96 |
| Medium-Term Notes, fester Zins |  |  |
| USD |  |  |
| USD	GUARDIAN LIFE GLOBAL FUNDING-REG-S 2.00000% 16-26.04.21	150 000.00 | 152 047.16 | 0.12 |
| Total USD | 152 047.16 | 0.12 |
| Total Medium-Term Notes, fester Zins | 152 047.16 | 0.12 |
| Medium-Term Notes, Nullcoupon |  |  |
| USD |  |  |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 0.00000% 00-01.05.30	150 000.00 | 129 823.13 | 0.10 |
| Total USD | 129 823.13 | 0.10 |
| Total Medium-Term Notes, Nullcoupon | 129 823.13 | 0.10 |
| Treasury-Notes, variabler Zins |  |  |
| USD |  |  |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 12-15.07.22	360 000.00 | 408 305.78 | 0.33 |
| Total USD | 408 305.78 | 0.33 |
| Total Treasury-Notes, variabler Zins | 408 305.78 | 0.33 |
| Total Wertpapiere und Geldmarktinstrumente, die an einem anderen geregelten Markt gehandelt werden | 1 886 204.04 | 1.51 |

OGAW/Andere OGA im Sinne des Artikels 41 (1) e) des abgeänderten luxemburgischen Gesetzes vom 17. Dezember 2010
Investment Fonds, open end
| Irland |  |
| --- | --- |
| USD | SOURCE MARKETS PLC - MSCI USA SOURCE ETF-A | 16 075.00 | 1 319 677.13 | 1.06 |
| USD | UBS ETFS PLC - MSCI USA TRN INDEX SF (USD) A-ACC | 16 075.00 | 1 325 544.50 | 1.06 |
| Total Irland |  | 2 645 221.63 | 2.12 |
| Luxemburg |  |  |  |
| EUR	UBS (LUX) BOND FUND - EURO HIGH YIELD (EUR) I-X-ACC | 17 788.00 | 2 473 310.23 | 1.98 |
| USD	UBS (LUX) BOND SICAV - SHORT TERM USD CORPORATES (USD) U-X-A | 1 382.00 | 15 273 076.26 | 12.24 |
| USD	UBS (LUX) BOND SICAV - USD CORPORATES U-X-ACC | 596.00 | 7 345 038.44 | 5.88 |
| USD	UBS (LUX) BOND SICAV - USD HIGH YIELD U-X-ACC | 274.00 | 5 236 789.38 | 4.20 |

UBS (Lux) Strategy SICAV – Income (USD)
Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020
|  | Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
|  |  |  |  |  |
| USD | UBS (LUX) BOND SICAV - EMERGING ECONOMIES CORP (USD)-I-X-DIS | 38 428.00 | 4 050 695.48 | 3.25 |
| USD | UBS (LUX) BOND SICAV - USD INVEST GRADE CORP USD U X ACC | 1 943.00 | 22 772 096.01 | 18.25 |
| USD | UBS (LUX) EMERGING ECONOMIES FUND-GLOBAL BONDS (USD)-U-X ACC | 552.00 | 7 125 641.04 | 5.71 |
| USD | UBS (LUX) EQUITY FUND - GLOBAL SUSTAINABLE (USD) U-X-ACC | 400.00 | 4 122 512.00 | 3.30 |
| USD | UBS (LUX) EQUITY SICAV - GLB EM OPP(USD)-U-X-ACC | 15.00 | 397 438.50 | 0.32 |
| USD | UBS (LUX) EQUITY SICAV-GLOBAL QUANTITATIVE (USD) U-X-ACC | 304.00 | 4 191 910.72 | 3.36 |
| USD | UBS (LUX) EQUITY SICAV - GLOBAL OPPORTUNITY (USD) U-X-ACC | 232.00 | 2 140 000.48 | 1.71 |
| USD | UBS (LUX) INST FUND-KEY SEL. GLOBAL EQUITY FA-USD | 176.00 | 4 188 368.80 | 3.36 |
| USD | UBS (LUX) INSTITUTION SICAV-EQUITIES GLB (EX USA) PASSIVE XA | 15 385.00 | 1 392 342.50 | 1.11 |
| USD | UBS (LUX) MONEY MARKET FUND - USD U-X-ACC | 146.00 | 1 634 858.36 | 1.31 |
| Total Luxemburg |  | 82 344 078.20 | 65.98 |
| Total Investment Fonds, open end |  | 84 989 299.83 | 68.10 |
| Total OGAW/Andere OGA im Sinne des Artikels 41 (1) e) des abgeänderten luxemburgischen Gesetzes vom 17. Dezember 2010 |  | 84 989 299.83 | 68.10 |
| Derivative Instrumente, die an einer offiziellen Börse gehandelt werden |  |  |  |
| Optionen auf Indizes, klassisch |  |  |  |
| USD |  |  |  |
| USD	S&P 500 INDEX CALL 2600.00000 18.09.20 | 5.00 | 241 350.00 | 0.19 |
| USD	S&P 500 INDEX PUT 2225.00000 18.09.20 | -5.00 | -11 200.00 | -0.01 |
| Total USD |  | 230 150.00 | 0.18 |
| Total Optionen auf Indizes, klassisch |  | 230 150.00 | 0.18 |
| Total Derivative Instrumente, die an einer offiziellen Börse gehandelt werden |  | 230 150.00 | 0.18 |
| Total des Wertpapierbestandes |  | 119 485 448.90 | 95.74 |

| Derivative Instrumente |  |
| --- | --- |
| Derivative Instrumente, die an einer offiziellen Börse gehandelt werden Finanzterminkontrakte auf Anleihen |
|  |  |  |  |
| USD	US 5YR TREASURY NOTE FUTURE 30.09.20 | -8.00 | -1 500.00 | 0.00 |
| Total Finanzterminkontrakte auf Anleihen |  | -1 500.00 | 0.00 |
| Finanzterminkontrakte auf Indizes |  |  |  |
|  |  |  |  |
| EUR	EURO STOXX 50 INDEX FUTURE 19.06.20 | -130.00 | -921 282.55 | -0.74 |
| CHF	SWISS MARKET INDEX FUTURE 19.06.20 | 19.00 | 450 192.57 | 0.36 |
| GBP	FTSE 100 INDEX FUTURE 19.06.20 | 72.00 | 593 249.45 | 0.48 |
| USD	S&P500 EMINI FUTURE 19.06.20 | 3.00 | 16 275.00 | 0.01 |
| AUD	SPI 200 INDEX FUTURES 18.06.20 | -4.00 | -44 083.31 | -0.04 |
| JPY	NIKKEI 225 (OSE) INDEX FUTURE 11.06.20 | -6.00 | -169 861.24 | -0.14 |
| CAD	S&P/TSX 60 INDEX FUTURE 18.06.20 | -5.00 | -66 596.73 | -0.04 |
| Total Finanzterminkontrakte auf Indizes |  | -142 106.81 | -0.11 |
| Total Derivative Instrumente, die an einer offiziellen Börse gehandelt werden |  | -143 606.81 | -0.11 |

Derivative Instrumente, die nicht an einer offiziellen Börse oder einem anderen geregelten Markt gehandelt werden
Credit-Default-Swaps*
| USD | ICE/CDX.NA.IG.34 CDI REC 1.00000% 20-20.06.25 | 3 000 000.00 | 39 042.67 | 0.03 |
| --- | --- | --- | --- | --- |
| Total Credit-Default-Swaps | 39 042.67 | 0.03 |
| Total Derivative Instrumente, die nicht an einer offiziellen Börse oder einem anderen geregelten Markt gehandelt werden | 39 042.67 | 0.03 |
| Total Derivative Instrumente | -104 564.14 | -0.08 |
| Devisenterminkontrakte |  |  |
| Devisenterminkontrakte (Kauf/Verkauf) |  |  |

| USD | 52 584.01 | SGD | 75 000.00 | 24.6.2020 | -482.69 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 2 347 813.71 | EUR | 2 158 008.25 | 24.6.2020 | -53 774.21 | -0.04 |
| USD | 727 807.78 | AUD | 1 147 460.47 | 24.6.2020 | -33 890.34 | -0.04 |
| GBP | 1 650 157.90 | USD | 2 039 659.52 | 24.6.2020 | 632.14 | 0.00 |
| USD | 561 875.47 | CAD | 794 617.78 | 24.6.2020 | -13 026.86 | -0.01 |
| USD | 65 385.05 | NOK | 694 521.10 | 24.6.2020 | -6 080.10 | 0.00 |
| USD | 768 631.24 | JPY | 82 644 922.00 | 24.6.2020 | 1 266.07 | 0.00 |
| USD | 358 850.25 | CHF | 347 025.42 | 24.6.2020 | -2 616.99 | 0.00 |
| USD | 105 019.91 | DKK | 720 000.00 | 24.6.2020 | -2 481.39 | 0.00 |
| NZD | 5 000.00 | USD | 2 996.89 | 24.6.2020 | 99.04 | 0.00 |
| USD | 103 155.98 | HKD | 800 000.00 | 24.6.2020 | -5.94 | 0.00 |
| USD | 69 934.00 | SEK | 702 697.98 | 24.6.2020 | -4 691.50 | 0.00 |
| GBP | 68 000.00 | USD | 83 788.87 | 24.6.2020 | 287.83 | 0.00 |
| USD | 67 096.84 | CHF | 65 000.00 | 24.6.2020 | -608.20 | 0.00 |
| USD | 54 270.19 | EUR | 50 000.00 | 24.6.2020 | -1 373.43 | 0.00 |
| USD | 32 253.23 | CAD | 45 000.00 | 24.6.2020 | -304.06 | 0.00 |
| USD | 2 242 684.25 | EUR | 2 069 114.51 | 22.7.2020 | -61 355.58 | -0.05 |
| USD | 295 880.66 | CHF | 286 971.10 | 22.7.2020 | -3 280.01 | 0.00 |
| USD | 89 373.73 | DKK | 615 000.00 | 22.7.2020 | -2 507.16 | 0.00 |
| GBP | 2 168 941.42 | USD | 2 678 814.00 | 22.7.2020 | 3 219.27 | 0.00 |

* Nominal positiv: der Subfonds ist «Receiver», Nominal negativ: der Subfonds ist «Payer».
UBS (Lux) Strategy SICAV – Income (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020
| Bezeichnung	Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- |
| Nominal | NR Kursgewinn | Netto- |
|  | (-verlust) auf Futures/ | vermögens |
|  | Devisentermin- |  |
|  | kontrakten/ |  |
|  | Swaps (Erl. 1) |  |

Devisenterminkontrakte (Fortsetzung)
Devisenterminkontrakte (Kauf/Verkauf)
| USD | 769 489.35 | JPY | 82 624 073.00 | 22.7.2020 | 1 980.55 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| CAD | 206 118.20 | USD | 147 130.49 | 22.7.2020 | 1 995.84 | 0.00 |
| USD | 70 995.76 | SEK | 697 396.45 | 22.7.2020 | -3 085.62 | 0.00 |
| USD | 104 417.25 | HKD | 810 000.00 | 22.7.2020 | 41.73 | 0.00 |
| USD | 52 952.27 | SGD | 75 000.00 | 22.7.2020 | -119.91 | 0.00 |
| USD | 67 476.72 | NOK | 692 981.75 | 22.7.2020 | -3 843.99 | 0.00 |
| AUD | 549 876.66 | USD | 356 928.79 | 22.7.2020 | 8 080.01 | 0.00 |
| GBP | 1 020 000.00 | USD | 1 242 603.78 | 24.6.2020 | 18 546.74 | 0.01 |
| GBP | 1 010 000.00 | USD | 1 230 596.12 | 22.7.2020 | 18 332.77 | 0.01 |
| USD | 92 759.64 | EUR | 85 000.00 | 22.7.2020 | -1 891.18 | 0.00 |
| USD | 92 704.22 | EUR | 85 000.00 | 24.6.2020 | -1 889.94 | 0.00 |
| USD | 115 155.60 | EUR | 105 000.00 | 22.7.2020 | -1 766.00 | 0.00 |
| USD | 115 087.25 | EUR | 105 000.00 | 24.6.2020 | -1 764.36 | 0.00 |
| USD | 78 045.31 | EUR | 70 000.00 | 22.7.2020 | 97.58 | 0.00 |
| USD | 77 997.71 | EUR | 70 000.00 | 24.6.2020 | 96.64 | 0.00 |
| Total Devisenterminkontrakte (Kauf/Verkauf) | -146 163.25 | -0.12 |
|  |  |  |
| Bankguthaben, Sicht- und Fristgelder und andere liquide Mittel | 5 445 785.37 | 4.36 |
| Kontokorrentkredit und andere kurzfristige Verbindlichkeiten | -32 598.44 | -0.03 |
| Andere Aktiva und Passiva | 151 936.10 | 0.13 |
| Total des Nettovermögens | 124 799 844.54 | 100.00 |

UBS (Lux) Strategy SICAV – Income (USD)
Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020