# UBS (Lux) Bond Fund – Euro High Yield (EUR)
| Three-year comparison |  |
| --- | --- |
|  | ISIN | 31.3.2023 | 31.3.2022 | 31.3.2021 |
| Net assets in EUR |  | 1 148 200 385.80 | 1 431 122 028.59 | 1 730 167 720.42 |
| Class F-acc | LU0415181469 |  |  |  |
| Units outstanding |  | 9 989.0000 | 9 989.0000 | 9 989.0000 |
| Net asset value per unit in EUR |  | 226.89 | 233.65 | 236.56 |
| Issue and redemption price per unit in EUR 1 |  | 226.89 | 233.65 | 236.56 |
| Class (USD hedged) F-acc | LU1611257251 |  |  |  |
| Units outstanding |  | 411 397.5400 | 669 602.5400 | 692 811.5400 |
| Net asset value per unit in USD |  | 122.85 | 123.36 | 123.99 |
| Issue and redemption price per unit in USD 1 |  | 122.85 | 123.36 | 123.99 |
| Class I-A1-acc | LU0415181899 |  |  |  |
| Units outstanding |  | 1 005 264.6260 | 1 295 957.1530 | 1 317 602.6460 |
| Net asset value per unit in EUR |  | 150.32 | 154.95 | 157.04 |
| Issue and redemption price per unit in EUR 1 |  | 150.32 | 154.95 | 157.04 |
| Class I-A2-acc 2 | LU1368322555 |  |  |  |
| Units outstanding |  | - | 4 995.0000 | 4 995.0000 |
| Net asset value per unit in EUR |  | - | 126.17 | 127.82 |
| Issue and redemption price per unit in EUR 1 |  | - | 126.17 | 127.82 |
| Class (USD hedged) I-A2-acc 3 | LU1545724228 |  |  |  |
| Units outstanding |  | - | 14 609.1050 | 353 467.3370 |
| Net asset value per unit in USD |  | - | 104.43 | 104.99 |
| Issue and redemption price per unit in USD 1 |  | - | 104.43 | 104.99 |
| Class I-B-acc | LU0415182517 |  |  |  |
| Units outstanding |  | 27 075.7260 | 9 995.1760 | 20 397.7770 |
| Net asset value per unit in EUR |  | 227.63 | 233.33 | 235.14 |
| Issue and redemption price per unit in EUR 1 |  | 227.63 | 233.33 | 235.14 |
| Class (USD hedged) I-B-acc | LU2107562485 |  |  |  |
| Units outstanding |  | 151 979.0000 | 168 101.0000 | 233 111.0000 |
| Net asset value per unit in USD |  | 107.42 | 107.35 | 107.37 |
| Issue and redemption price per unit in USD 1 |  | 107.42 | 107.35 | 107.37 |
| Class I-X-acc | LU0415182780 |  |  |  |
| Units outstanding |  | 296 894.6190 | 357 633.0070 | 1 497 519.5970 |
| Net asset value per unit in EUR |  | 136.37 | 139.70 | 140.71 |
| Issue and redemption price per unit in EUR 1 |  | 136.37 | 139.70 | 140.71 |
| Class (CHF hedged) I-X-acc | LU0654646750 |  |  |  |
| Units outstanding |  | 106 923.1710 | 95 211.6330 | 87 933.4350 |
| Net asset value per unit in CHF |  | 122.13 | 126.10 | 127.38 |
| Issue and redemption price per unit in CHF 1 |  | 122.13 | 126.10 | 127.38 |
| Class K-1-acc | LU0415180909 |  |  |  |
| Units outstanding |  | 1.1000 | 1.1000 | 2.2000 |
| Net asset value per unit in EUR |  | 5 872 164.06 | 6 060 356.17 | 6 149 191.19 |
| Issue and redemption price per unit in EUR 1 |  | 5 872 164.06 | 6 060 356.17 | 6 149 191.19 |
| Class (USD hedged) K-1-acc 4 | LU1004765761 |  |  |  |
| Units outstanding |  | - | - | 0.9000 |
| Net asset value per unit in USD |  | - | - | 7 425 648.27 |
| Issue and redemption price per unit in USD 1 |  | - | - | 7 425 648.27 |
| Class (USD hedged) K-1-mdist 5 | LU1329801796 |  |  |  |
| Units outstanding |  | - | 2.9000 | 2.9000 |
| Net asset value per unit in USD |  | - | 4 793 762.91 | 5 093 464.38 |
| Issue and redemption price per unit in USD 1 |  | - | 4 793 762.92 | 5 093 464.38 |
| Class K-B-mdist | LU2208382932 |  |  |  |
| Units outstanding |  | 119 538.0570 | 113 650.0370 | 113 650.0370 |
| Net asset value per unit in EUR |  | 92.29 | 99.21 | 104.65 |
| Issue and redemption price per unit in EUR 1 |  | 92.29 | 99.21 | 104.65 |
| Class N-dist | LU0415180495 |  |  |  |
| Units outstanding |  | 35 962.3600 | 39 701.0930 | 42 986.6410 |
| Net asset value per unit in EUR |  | 92.49 | 99.86 | 104.92 |
| Issue and redemption price per unit in EUR 1 |  | 92.49 | 99.86 | 104.92 |
| Class P-6%-mdist | LU1076698254 |  |  |  |
| Units outstanding | 292 511.3180 | 309 273.7910 | 322 863.8610 |
| Net asset value per unit in EUR | 69.19 | 76.20 | 82.51 |
| Issue and redemption price per unit in EUR 1 | 69.19 | 76.20 | 82.51 |
| 1  See note 1 2  The unit class I-A2-acc was in circulation until 21.12.2022 3  The unit class (USD hedged) I-A2-acc was in circulation until 30.6.2022 4  The unit class (USD hedged) K-1-acc was in circulation until 18.5.2021 5  The unit class (USD hedged) K-1-mdist was in circulation until 28.9.2022 |  |  |  |

UBS (Lux) Bond Fund – Euro High Yield (EUR) Annual report and audited financial statement as of 31 March 2023
|  | ISIN | 31.3.2023 | 31.3.2022 | 31.3.2021 |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Class P-acc | LU0086177085 |  |  |  |
| Units outstanding |  | 691 314.2040 | 795 564.4730 | 942 986.0270 |
| Net asset value per unit in EUR |  | 210.32 | 218.27 | 222.72 |
| Issue and redemption price per unit in EUR 1 |  | 210.32 | 218.27 | 222.72 |
| Class (CHF hedged) P-acc | LU0776290842 |  |  |  |
| Units outstanding |  | 60 693.0930 | 65 506.3990 | 65 129.2880 |
| Net asset value per unit in CHF |  | 149.75 | 156.72 | 160.45 |
| Issue and redemption price per unit in CHF 1 |  | 149.75 | 156.72 | 160.45 |
| Class (USD hedged) P-acc | LU0994471687 |  |  |  |
| Units outstanding |  | 173 109.9180 | 311 545.3350 | 360 809.2340 |
| Net asset value per unit in USD |  | 141.59 | 143.32 | 145.21 |
| Issue and redemption price per unit in USD 1 |  | 141.59 | 143.32 | 145.21 |
| Class P-dist | LU0085995990 |  |  |  |
| Units outstanding |  | 1 423 121.8620 | 1 529 595.0240 | 1 596 256.7560 |
| Net asset value per unit in EUR |  | 43.85 | 47.19 | 49.45 |
| Issue and redemption price per unit in EUR 1 |  | 43.85 | 47.19 | 49.45 |
| Class P-mdist | LU0417441200 |  |  |  |
| Units outstanding |  | 674 816.5100 | 793 035.7560 | 942 819.8360 |
| Net asset value per unit in EUR |  | 111.29 | 121.09 | 129.33 |
| Issue and redemption price per unit in EUR 1 |  | 111.29 | 121.09 | 129.33 |
| Class (AUD hedged) P-mdist | LU0945635778 |  |  |  |
| Units outstanding |  | 754 291.7210 | 878 422.7990 | 982 185.3240 |
| Net asset value per unit in AUD |  | 77.74 | 84.32 | 90.11 |
| Issue and redemption price per unit in AUD 1 |  | 77.74 | 84.32 | 90.11 |
| Class (CAD hedged) P-mdist | LU0945635851 |  |  |  |
| Units outstanding |  | 282 610.8780 | 329 089.8320 | 333 416.8320 |
| Net asset value per unit in CAD |  | 79.49 | 86.21 | 92.20 |
| Issue and redemption price per unit in CAD 1 |  | 79.49 | 86.21 | 92.20 |
| Class (GBP hedged) P-mdist | LU0997192736 |  |  |  |
| Units outstanding |  | 178 301.8740 | 182 252.0300 | 224 309.5920 |
| Net asset value per unit in GBP |  | 76.52 | 83.12 | 88.79 |
| Issue and redemption price per unit in GBP 1 |  | 76.52 | 83.12 | 88.79 |
| Class (HKD hedged) P-mdist | LU0973218331 |  |  |  |
| Units outstanding |  | 112 809.1310 | 147 295.2470 | 171 129.9550 |
| Net asset value per unit in HKD |  | 777.72 | 843.87 | 902.14 |
| Issue and redemption price per unit in HKD 1 |  | 777.72 | 843.87 | 902.14 |
| Class (JPY hedged) P-mdist | LU1545771492 |  |  |  |
| Units outstanding |  | 755 148.9960 | 506 903.2540 | 228 556.6570 |
| Net asset value per unit in JPY |  | 8 073 | 8 824 | 9 421 |
| Issue and redemption price per unit in JPY 1 |  | 8 073 | 8 824 | 9 421 |
| Class (RMB hedged) P-mdist | LU0968750884 |  |  |  |
| Units outstanding |  | 91 630.6650 | 102 413.0980 | 106 400.4590 |
| Net asset value per unit in CNH |  | 889.80 | 975.67 | 1 049.03 |
| Issue and redemption price per unit in CNH 1 |  | 889.80 | 975.67 | 1 049.03 |
| Class (SGD hedged) P-mdist | LU0989134753 |  |  |  |
| Units outstanding |  | 527 039.2370 | 633 483.7950 | 762 615.4100 |
| Net asset value per unit in SGD |  | 79.51 | 86.28 | 92.28 |
| Issue and redemption price per unit in SGD 1 |  | 79.51 | 86.28 | 92.28 |
| Class (USD hedged) P-mdist | LU0937166394 |  |  |  |
| Units outstanding |  | 1 981 242.5690 | 2 485 152.6710 | 2 960 617.9170 |
| Net asset value per unit in USD |  | 79.93 | 86.36 | 92.28 |
| Issue and redemption price per unit in USD 1 |  | 79.93 | 86.36 | 92.28 |
| Class (ZAR hedged) P-mdist 6 | LU2186299629 |  |  |  |
| Units outstanding |  | - | - | 16 246.6490 |
| Net asset value per unit in ZAR |  | - | - | 1 041.50 |
| Issue and redemption price per unit in ZAR 1 |  | - | - | 1 041.50 |
| Class Q-6%-mdist | LU1240770286 |  |  |  |
| Units outstanding |  | 10 619.5250 | 13 121.1040 | 24 335.4220 |
| Net asset value per unit in EUR |  | 78.80 | 86.31 | 92.96 |
| Issue and redemption price per unit in EUR 1 |  | 78.80 | 86.31 | 92.96 |
| Class (USD hedged) Q-6%-mdist | LU1317082110 |  |  |  |
| Units outstanding |  | 498.9520 | 1 148.9520 | 1 300.0000 |
| Net asset value per unit in USD |  | 89.25 | 95.36 | 102.01 |
| Issue and redemption price per unit in USD 1 |  | 89.25 | 95.36 | 102.01 |
| Class Q-acc | LU0358408267 |  |  |  |
| Units outstanding |  | 672 124.2920 | 730 208.7580 | 546 327.1090 |
| Net asset value per unit in EUR |  | 196.50 | 202.83 | 205.85 |
| Issue and redemption price per unit in EUR 1 |  | 196.50 | 202.83 | 205.85 |
| Class (CHF hedged) Q-acc | LU1240769437 |  |  |  |
| Units outstanding |  | 74 249.5350 | 84 806.6360 | 82 935.6170 |
| Net asset value per unit in CHF |  | 116.10 | 120.85 | 123.07 |
| Issue and redemption price per unit in CHF 1 |  | 116.10 | 120.85 | 123.07 |
| Class (USD hedged) Q-acc | LU1240770013 |  |  |  |
| Units outstanding |  | 64 028.1150 | 88 206.6400 | 64 281.8390 |
| Net asset value per unit in USD |  | 138.28 | 139.21 | 140.29 |
| Issue and redemption price per unit in USD 1 |  | 138.28 | 139.21 | 140.29 |
| 1  See note 1 6  For the period from 22.9.2020 to 30.9.2021 the unit class (ZAR | hedged) P-mdist was in circulation |  |  |  |

UBS (Lux) Bond Fund – Euro High Yield (EUR)
Annual report and audited financial statement as of 31 March 2023
|  | ISIN | 31.3.2023 | 31.3.2022 | 31.3.2021 |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Class Q-dist | LU0415181543 |  |  |  |
| Units outstanding |  | 92 416.9810 | 103 406.8210 | 89 832.5710 |
| Net asset value per unit in EUR |  | 93.19 | 100.43 | 105.16 |
| Issue and redemption price per unit in EUR 1 |  | 93.19 | 100.43 | 105.16 |
| Class Q-mdist | LU1240770369 |  |  |  |
| Units outstanding |  | 41 453.2150 | 42 528.3080 | 44 128.9890 |
| Net asset value per unit in EUR |  | 85.12 | 92.12 | 97.84 |
| Issue and redemption price per unit in EUR 1 |  | 85.12 | 92.12 | 97.84 |
| Class (GBP hedged) Q-mdist | LU1240769510 |  |  |  |
| Units outstanding |  | 1 585.3340 | 2 458.5910 | 2 253.4420 |
| Net asset value per unit in GBP |  | 85.10 | 91.94 | 97.67 |
| Issue and redemption price per unit in GBP 1 |  | 85.10 | 91.94 | 97.67 |
| Class (USD hedged) Q-mdist | LU1240770104 |  |  |  |
| Units outstanding |  | 228 240.5250 | 266 867.9200 | 230 159.6960 |
| Net asset value per unit in USD |  | 88.34 | 94.94 | 100.90 |
| Issue and redemption price per unit in USD 1 |  | 88.34 | 94.94 | 100.90 |
| Class (USD hedged) U-X-acc | LU2272237822 |  |  |  |
| Units outstanding |  | 2 142.0000 | 2 735.0000 | 3 049.0000 |
| Net asset value per unit in USD |  | 10 033.06 | 10 019.62 | 10 015.63 |
| Issue and redemption price per unit in USD 1 |  | 10 033.06 | 10 019.62 | 10 015.63 |
| Class U-X-UKdist-mdist | LU1839734958 |  |  |  |
| Units outstanding |  | 1 387.0000 | 1 048.0000 | 981.0000 |
| Net asset value per unit in EUR |  | 8 858.16 | 9 637.31 | 10 119.08 |
| Issue and redemption price per unit in EUR 1 |  | 8 858.16 | 9 637.31 | 10 119.08 |
| 1  See note 1 |  |  |  |  |

UBS (Lux) Bond Fund – Euro High Yield (EUR) Annual report and audited financial statement as of 31 March 2023
| Performance |  |
| --- | --- |
|  | Currency | 2022/2023 | 2021/2022 | 2020/2021 |
| Class F-acc | EUR | -2.9% | -1.2% | 22.1% |
| Class (USD hedged) F-acc | USD | -0.4% | -0.5% | 23.7% |
| Class I-A1-acc | EUR | -3.0% | -1.3% | 22.8% |
| Class I-A2-acc 1 | EUR | - | -1.3% | 22.8% |
| Class (USD hedged) I-A2-acc 2 | USD | - | -0.5% | 24.5% |
| Class I-B-acc | EUR | -2.4% | -0.8% | 23.4% |
| Class (USD hedged) I-B-acc | USD | 0.1% | 0.0% | 25.1% |
| Class I-X-acc | EUR | -2.4% | -0.7% | 23.5% |
| Class (CHF hedged) I-X-acc | CHF | -3.1% | -1.0% | 23.3% |
| Class K-1-acc | EUR | -3.1% | -1.4% | 21.8% |
| Class (USD hedged) K-1-acc 3 | USD | - | - | 23.4% |
| Class (USD hedged) K-1-mdist 4 | USD | - | -0.7% | 23.5% |
| Class K-B-mdist | EUR | -2.5% | -0.8% | - |
| Class N-dist | EUR | -4.1% | -2.5% | 20.5% |
| Class P-6%-mdist | EUR | -3.6% | -2.0% | 21.1% |
| Class P-acc | EUR | -3.6% | -2.0% | 21.1% |
| Class (CHF hedged) P-acc | CHF | -4.4% | -2.3% | 20.9% |
| Class (USD hedged) P-acc | USD | -1.2% | -1.3% | 22.7% |
| Class P-dist | EUR | -3.6% | -2.0% | 21.1% |
| Class P-mdist | EUR | -3.6% | -2.0% | 21.1% |
| Class (AUD hedged) P-mdist | AUD | -2.2% | -1.5% | 21.5% |
| Class (CAD hedged) P-mdist | CAD | -1.4% | -1.4% | 21.8% |
| Class (GBP hedged) P-mdist | GBP | -2.0% | -1.4% | 21.7% |
| Class (HKD hedged) P-mdist | HKD | -2.2% | -1.4% | 22.5% |
| Class (JPY hedged) P-mdist | JPY | -4.2% | -1.6% | 21.8% |
| Class (RMB hedged) P-mdist | CNH | -1.9% | 1.3% | 24.7% |
| Class (SGD hedged) P-mdist | SGD | -1.6% | -1.2% | 22.1% |
| Class (USD hedged) P-mdist | USD | -1.2% | -1.3% | 22.7% |
| Class (ZAR hedged) P-mdist 5 | ZAR | - | - | - |
| Class Q-6%-mdist | EUR | -3.1% | -1.5% | 21.8% |
| Class (USD hedged) Q-6%-mdist | USD | -0.7% | -0.8% | 23.4% |
| Class Q-acc | EUR | -3.1% | -1.5% | 21.8% |
| Class (CHF hedged) Q-acc | CHF | -3.9% | -1.8% | 21.5% |
| Class (USD hedged) Q-acc | USD | -0.7% | -0.8% | 23.4% |
| Class Q-dist | EUR | -3.1% | -1.5% | 21.8% |
| Class Q-mdist | EUR | -3.1% | -1.5% | 21.8% |
| Class (GBP hedged) Q-mdist | GBP | -1.5% | -0.9% | 22.3% |
| Class (USD hedged) Q-mdist | USD | -0.7% | -0.8% | 23.4% |
| Class (USD hedged) U-X-acc | USD | 0.1% | 0.0% | - |
| Class U-X-UKdist-mdist | EUR | -2.4% | -0.7% | 23.5% |
| Benchmark: 6 ICE BofAML EUR High Yield 3% Constrained Index | EUR | -4.5% | -3.1% | 22.3% |
| ICE BofAML EUR High Yield 3% Constrained Index (hedged USD) | USD | -1.8% | -2.2% | 23.7% |
| ICE BofAML EUR High Yield 3% Constrained Index (hedged CHF) | CHF | -5.2% | -3.3% | 22.0% |
| ICE BofAML EUR High Yield 3% Constrained Index (hedged AUD) | AUD | -3.7% | -2.4% | 22.5% |
| ICE BofAML EUR High Yield 3% Constrained Index (hedged CAD) | CAD | -2.4% | -2.3% | 23.1% |
| ICE BofAML EUR High Yield 3% Constrained Index (hedged GBP) | GBP | -3.3% | -2.4% | 22.9% |
| ICE BofAML EUR High Yield 3% Constrained Index (hedged HKD) | HKD | -2.7% | -2.3% | 23.9% |
| ICE BofAML EUR High Yield 3% Constrained Index (hedged JPY) | JPY | -5.9% | -2.6% | 22.9% |
| ICE BofAML EUR High Yield 3% Constrained Index (hedged RMB) | CNH | -2.8% | 0.5% | 26.3% |
| ICE BofAML EUR High Yield 3% Constrained Index (hedged SGD) | SGD | -2.5% | -2.1% | 23.4% |
| ICE BofAML EUR High Yield 3% Constrained Index (hedged ZAR) | ZAR | - | - | 22.3% |
| Historical performance is no indicator of current or future performance. |  |  |  |  |

The performance data does not take account of any commissions and costs charged when subscribing and redeeming units. The performance data were not audited.
1 
The unit class I-A2-acc was in circulation until 21.12.2022. Due to this fact, there is no data for the calculation of the performance available.
2 
The unit class (USD hedged) I-A2-acc was in circulation until 30.6.2022. Due to this fact, there is no data for the calculation of the performance available.
3 
The unit class (USD hedged) K-1-acc was in circulation until 18.5.2021. Due to this fact, there is no data for the calculation of the performance available.
4 
The unit class (USD hedged) K-1-mdist was in circulation until 28.9.2022. Due to this fact, there is no data for the calculation of the performance available.
5 
For the period from 22.9.2020 to 30.9.2021 the unit class (ZAR hedged) P-mdist was in circulation. Due to this fact, there is no data for the calculation of the performance available.
6 
The subfund is actively managed. The index is a point of reference against which the performance of the subfund may be measured.
UBS (Lux) Bond Fund – Euro High Yield (EUR)
Annual report and audited financial statement as of 31 March 2023

#### Report of the Portfolio Manager
In the financial year from 1 April 2022 to 31 March 2023, the Euro High Yield market generated a negative abso- lute total performance driven by spread widening and rising yields. During the period, developed market gov- ernment bond yields rose significantly, driven by hawkish central banks. In the US, UK and Eurozone headline CPI rose to levels not seen in decades 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 subfund posted a negative performance in the finan- cial year. Positive contributors to performance included issue selection within Healthcare and being cautious within Homebuilders & Real Estate. The main notable detractor was issue selection within Financials. Through- out the period we kept our preference for single B and CCC and below. From a sector perspective we closed the period favoring Healthcare and Leisure and being short with regards to our duration position.

#### Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
| France | 15.37 |
| --- | --- |
| Luxembourg | 13.51 |
| United Kingdom | 12.44 |
| The Netherlands | 11.39 |
| Germany | 9.52 |
| Italy | 8.42 |
| Spain | 5.84 |
| United States | 4.14 |
| Sweden | 3.02 |
| Portugal | 1.97 |
| Ireland | 1.77 |
| Greece | 1.63 |
| Japan | 1.24 |
| Panama | 0.96 |
| Belgium | 0.72 |
| Finland | 0.61 |
| Czech Republic | 0.58 |
| Israel | 0.52 |
| Gibraltar | 0.49 |
| Norway | 0.49 |
| Switzerland | 0.45 |
| Total | 95.08 |

Economic Breakdown as a % of net assets	
Finance & holding companies	38.56
| Banks & credit institutions | 12.52 |
| --- | --- |
| Telecommunications | 8.83 |
| Vehicles | 4.89 |
| Energy & water supply | 3.36 |
| Real Estate | 3.26 |
| Miscellaneous services | 3.10 |
| Healthcare & social services | 2.79 |
| Chemicals | 2.22 |
| Internet, software & IT services | 2.10 |
| Lodging, catering & leisure | 2.03 |
| Traffic & transportation | 1.41 |
| Miscellaneous trading companies | 1.12 |
| Packaging industry | 1.08 |
| Pharmaceuticals, cosmetics & medical products | 1.04 |
| Aerospace industry | 1.02 |
| Textiles, garments & leather goods | 0.84 |
| Biotechnology | 0.79 |
| Petroleum | 0.60 |
| Photographic & optics | 0.55 |
| Graphic design, publishing & media | 0.53 |
| Investment funds | 0.52 |
| Miscellaneous unclassified companies | 0.45 |
| Miscellaneous consumer goods | 0.31 |
| Mechanical engineering & industrial equipment | 0.30 |
| Agriculture & fishery | 0.29 |
| Food & soft drinks | 0.29 |
| Insurance | 0.28 |
| Total | 95.08 |

UBS (Lux) Bond Fund – Euro High Yield (EUR) Annual report and audited financial statement as of 31 March 2023

#### Statement of Net Assets
Assets	31.3.2023
EUR
Investments in securities, cost	1 171 042 081.89
Investments in securities, unrealized appreciation (depreciation)	79 340 933.91
Total investments in securities (Note 1)	1 091 701 147.98
Cash at banks, deposits on demand and deposit accounts	44 158 319.54*
Other liquid assets (Margins)	3 432 687.22
Receivable on securities sales (Note 1)	4 288 361.75
Receivable on subscriptions	1 247 640.21
Interest receivable on securities	18 741 635.25
Total Assets	1 163 900 018.42
Liabilities
Prepaid expenses	330 226.47
Unrealized loss on forward foreign exchange contracts (Note 1)	-5 230 557.94
Unrealized loss on Swaps (Note 1)	-629 940.16
Bank overdraft	-2 694 473.02
Payable on securities purchases (Note 1)	-4 766 634.17
Payable on redemptions	-1 025 589.70
Provisions for flat fee (Note 2)	-893 724.55
Provisions for taxe d’abonnement (Note 3)	-111 638.03
Provisions for other commissions and fees (Note 2)		-347 075.05		 Total provisions			-1 352 437.63
Total Liabilities	-15 699 632.62
Net assets at the end of the financial year	1 148 200 385.80

#### Statement of Operations
Income	1.4.2022-31.3.2023
EUR
Interest on liquid assets	469 011.46
Interest on securities	63 708 086.11
Dividends	381 350.30
Interest received on swaps (Note 1)	1 877 336.05
Net income on securities lending (Note 14)	1 130 213.74
Total income	68 238 430.87
Expenses
Other income	672 433.21
Interest paid on swaps (Note 1)	-817 087.83
Flat fee (Note 2)	-11 778 130.05
Taxe d’abonnement (Note 3)	-458 879.24
Other commissions and fees (Note 2)	-100 797.97
Total expenses	-13 209 172.98
Net income (loss) on investments	55 029 257.89
Realized gain (loss) (Note 1)
Interest on cash and bank overdraft	-54 277.89
Realized gain (loss) on market-priced securities without options	-65 657 801.78
Realized gain (loss) on options	540 875.00
Realized gain (loss) on forward foreign exchange contracts	40 725 446.56
Realized gain (loss) on swaps	1 417 177.05
Total realized gain (loss)	-42 267 819.57
Net realized gain (loss) of the financial year	12 761 438.32
Changes in unrealized appreciation (depreciation) (Note 1)
Realized gain (loss) on foreign exchange	-19 293 516.40
Unrealized appreciation (depreciation) on market-priced securities without options	-40 478 422.72
Unrealized appreciation (depreciation) on forward foreign exchange contracts	-2 756 629.24
Total changes in unrealized appreciation (depreciation)	-45 042 936.27
Net increase (decrease) in net assets as a result of operations	-32 281 497.95
Unrealized appreciation (depreciation) on swaps	-1 807 884.31
* As at 31 March 2023, cash amounts serve as collateral for the counterparty JP Morgan for an amount of EUR 1 100 000.00.
UBS (Lux) Bond Fund – Euro High Yield (EUR)
Annual report and audited financial statement as of 31 March 2023
| Statement of Changes in Net Assets |  |
| --- | --- |
|  | EUR |
|  | 1.4.2022-31.3.2023 |
| Net assets at the beginning of the financial year | 1 431 122 028.59 |
| Subscriptions | 169 351 721.75 |
| Redemptions | 	-387 922 901.49	 |
| Total net subscriptions (redemptions) | -218 571 179.74 |
| Dividend paid | -32 068 965.10 |
| Net income (loss) on investments | 55 029 257.89 |
| Total realized gain (loss) | -42 267 819.57 |
| Total changes in unrealized appreciation (depreciation) | 	-45 042 936.27	 |
| Net increase (decrease) in net assets as a result of operations | -32 281 497.95 |
| Net assets at the end of the financial year | 1 148 200 385.80 |
| Development of the outstanding units |  |
|  | 1.4.2022-31.3.2023 |
| Class | F-acc |
| Number of units outstanding at the beginning of the financial year | 9 989.0000 |
| Number of units issued | 0.0000 |
| Number of units redeemed | 0.0000 |
| Number of units outstanding at the end of the financial year | 9 989.0000 |
| Class | (USD hedged) F-acc |
| Number of units outstanding at the beginning of the financial year | 669 602.5400 |
| Number of units issued | 19 410.0000 |
| Number of units redeemed | -277 615.0000 |
| Number of units outstanding at the end of the financial year | 411 397.5400 |
| Class | I-A1-acc |
| Number of units outstanding at the beginning of the financial year | 1 295 957.1530 |
| Number of units issued | 349 960.5400 |
| Number of units redeemed | -640 653.0670 |
| Number of units outstanding at the end of the financial year | 1 005 264.6260 |
| Class | I-A2-acc |
| Number of units outstanding at the beginning of the financial year | 4 995.0000 |
| Number of units issued | 0.0000 |
| Number of units redeemed | -4 995.0000 |
| Number of units outstanding at the end of the financial year | 0.0000 |
| Class | (USD hedged) I-A2-acc |
| Number of units outstanding at the beginning of the financial year | 14 609.1050 |
| Number of units issued | 0.0000 |
| Number of units redeemed | -14 609.1050 |
| Number of units outstanding at the end of the financial year | 0.0000 |
| Class | I-B-acc |
| Number of units outstanding at the beginning of the financial year | 9 995.1760 |
| Number of units issued | 32 034.0720 |
| Number of units redeemed | -14 953.5220 |
| Number of units outstanding at the end of the financial year | 27 075.7260 |
| Class | (USD hedged) I-B-acc |
| Number of units outstanding at the beginning of the financial year | 168 101.0000 |
| Number of units issued | 45 906.0000 |
| Number of units redeemed | -62 028.0000 |
| Number of units outstanding at the end of the financial year | 151 979.0000 |
| Class | I-X-acc |
| Number of units outstanding at the beginning of the financial year | 357 633.0070 |
| Number of units issued | 5 290.0830 |
| Number of units redeemed | -66 028.4710 |
| Number of units outstanding at the end of the financial year | 296 894.6190 |
| Class | (CHF hedged) I-X-acc |
| Number of units outstanding at the beginning of the financial year | 95 211.6330 |
| Number of units issued | 35 955.7880 |
| Number of units redeemed | -24 244.2500 |
| Number of units outstanding at the end of the financial year | 106 923.1710 |
| Class | K-1-acc |
| Number of units outstanding at the beginning of the financial year | 1.1000 |
| Number of units issued | 0.0000 |
| Number of units redeemed | 0.0000 |
| Number of units outstanding at the end of the financial year | 1.1000 |
| Class | (USD hedged) K-1-mdist |
| Number of units outstanding at the beginning of the financial year | 2.9000 |
| Number of units issued | 0.0000 |
| Number of units redeemed | -2.9000 |
| Number of units outstanding at the end of the financial year | 0.0000 |
| Class | K-B-mdist |
| Number of units outstanding at the beginning of the financial year | 113 650.0370 |
| Number of units issued | 5 888.0200 |
| Number of units redeemed | 0.0000 |
| Number of units outstanding at the end of the financial year | 119 538.0570 |

UBS (Lux) Bond Fund – Euro High Yield (EUR) Annual report and audited financial statement as of 31 March 2023
| Class | N-dist |
| --- | --- |
| Number of units outstanding at the beginning of the financial year | 39 701.0930 |
| Number of units issued | 1 940.4390 |
| Number of units redeemed | -5 679.1720 |
| Number of units outstanding at the end of the financial year | 35 962.3600 |
| Class | P-6%-mdist |
| Number of units outstanding at the beginning of the financial year | 309 273.7910 |
| Number of units issued | 15 703.7380 |
| Number of units redeemed | -32 466.2110 |
| Number of units outstanding at the end of the financial year | 292 511.3180 |
| Class | P-acc |
| Number of units outstanding at the beginning of the financial year | 795 564.4730 |
| Number of units issued | 72 172.7670 |
| Number of units redeemed | -176 423.0360 |
| Number of units outstanding at the end of the financial year | 691 314.2040 |
| Class | (CHF hedged) P-acc |
| Number of units outstanding at the beginning of the financial year | 65 506.3990 |
| Number of units issued | 1 034.9390 |
| Number of units redeemed | -5 848.2450 |
| Number of units outstanding at the end of the financial year | 60 693.0930 |
| Class | (USD hedged) P-acc |
| Number of units outstanding at the beginning of the financial year | 311 545.3350 |
| Number of units issued | 123 086.3640 |
| Number of units redeemed | -261 521.7810 |
| Number of units outstanding at the end of the financial year | 173 109.9180 |
| Class | P-dist |
| Number of units outstanding at the beginning of the financial year | 1 529 595.0240 |
| Number of units issued | 58 226.0410 |
| Number of units redeemed | -164 699.2030 |
| Number of units outstanding at the end of the financial year | 1 423 121.8620 |
| Class | P-mdist |
| Number of units outstanding at the beginning of the financial year | 793 035.7560 |
| Number of units issued | 36 495.5910 |
| Number of units redeemed | -154 714.8370 |
| Number of units outstanding at the end of the financial year | 674 816.5100 |
| Class | (AUD hedged) P-mdist |
| Number of units outstanding at the beginning of the financial year | 878 422.7990 |
| Number of units issued | 7 057.4540 |
| Number of units redeemed | -131 188.5320 |
| Number of units outstanding at the end of the financial year | 754 291.7210 |
| Class | (CAD hedged) P-mdist |
| Number of units outstanding at the beginning of the financial year | 329 089.8320 |
| Number of units issued | 0.0000 |
| Number of units redeemed | -46 478.9540 |
| Number of units outstanding at the end of the financial year | 282 610.8780 |
| Class | (GBP hedged) P-mdist |
| Number of units outstanding at the beginning of the financial year | 182 252.0300 |
| Number of units issued | 16 283.3000 |
| Number of units redeemed | -20 233.4560 |
| Number of units outstanding at the end of the financial year | 178 301.8740 |
| Class | (HKD hedged) P-mdist |
| Number of units outstanding at the beginning of the financial year | 147 295.2470 |
| Number of units issued | 3 790.7690 |
| Number of units redeemed | -38 276.8850 |
| Number of units outstanding at the end of the financial year | 112 809.1310 |
| Class | (JPY hedged) P-mdist |
| Number of units outstanding at the beginning of the financial year | 506 903.2540 |
| Number of units issued | 333 307.3610 |
| Number of units redeemed | -85 061.6190 |
| Number of units outstanding at the end of the financial year | 755 148.9960 |
| Class | (RMB hedged) P-mdist |
| Number of units outstanding at the beginning of the financial year | 102 413.0980 |
| Number of units issued | 0.0000 |
| Number of units redeemed | -10 782.4330 |
| Number of units outstanding at the end of the financial year | 91 630.6650 |
| Class | (SGD hedged) P-mdist |
| Number of units outstanding at the beginning of the financial year | 633 483.7950 |
| Number of units issued | 3 214.6340 |
| Number of units redeemed | -109 659.1920 |
| Number of units outstanding at the end of the financial year | 527 039.2370 |
| Class | (USD hedged) P-mdist |
| Number of units outstanding at the beginning of the financial year | 2 485 152.6710 |
| Number of units issued | 91 651.8540 |
| Number of units redeemed | -595 561.9560 |
| Number of units outstanding at the end of the financial year | 1 981 242.5690 |
| Class | Q-6%-mdist |
| Number of units outstanding at the beginning of the financial year | 13 121.1040 |
| Number of units issued | 526.8110 |
| Number of units redeemed | -3 028.3900 |
| Number of units outstanding at the end of the financial year | 10 619.5250 |

UBS (Lux) Bond Fund – Euro High Yield (EUR)
Annual report and audited financial statement as of 31 March 2023
| Class |  |  | (USD hedged) Q-6%-mdist |
| --- | --- | --- | --- |
| Number of units outstanding at the beginning of the financial year |  |  | 1 148.9520 |
| Number of units issued |  |  | 0.0000 |
| Number of units redeemed |  |  | -650.0000 |
| Number of units outstanding at the end of the financial year |  |  | 498.9520 |
| Class |  |  | Q-acc |
| Number of units outstanding at the beginning of the financial year |  |  | 730 208.7580 |
| Number of units issued |  |  | 106 120.6800 |
| Number of units redeemed |  |  | -164 205.1460 |
| Number of units outstanding at the end of the financial year |  |  | 672 124.2920 |
| Class |  |  | (CHF hedged) Q-acc |
| Number of units outstanding at the beginning of the financial year |  |  | 84 806.6360 |
| Number of units issued |  |  | 1 042.3890 |
| Number of units redeemed |  |  | -11 599.4900 |
| Number of units outstanding at the end of the financial year |  |  | 74 249.5350 |
| Class |  |  | (USD hedged) Q-acc |
| Number of units outstanding at the beginning of the financial year |  |  | 88 206.6400 |
| Number of units issued |  |  | 3 299.1280 |
| Number of units redeemed |  |  | -27 477.6530 |
| Number of units outstanding at the end of the financial year |  |  | 64 028.1150 |
| Class |  |  | Q-dist |
| Number of units outstanding at the beginning of the financial year |  |  | 103 406.8210 |
| Number of units issued |  |  | 9 266.7650 |
| Number of units redeemed |  |  | -20 256.6050 |
| Number of units outstanding at the end of the financial year |  |  | 92 416.9810 |
| Class |  |  | Q-mdist |
| Number of units outstanding at the beginning of the financial year |  |  | 42 528.3080 |
| Number of units issued |  |  | 3 497.9540 |
| Number of units redeemed |  |  | -4 573.0470 |
| Number of units outstanding at the end of the financial year |  |  | 41 453.2150 |
| Class |  |  | (GBP hedged) Q-mdist |
| Number of units outstanding at the beginning of the financial year |  |  | 2 458.5910 |
| Number of units issued |  |  | 451.7430 |
| Number of units redeemed |  |  | -1 325.0000 |
| Number of units outstanding at the end of the financial year |  |  | 1 585.3340 |
| Class |  |  | (USD hedged) Q-mdist |
| Number of units outstanding at the beginning of the financial year |  |  | 266 867.9200 |
| Number of units issued |  |  | 17 249.6440 |
| Number of units redeemed |  |  | -55 877.0390 |
| Number of units outstanding at the end of the financial year |  |  | 228 240.5250 |
| Class |  |  | (USD hedged) U-X-acc |
| Number of units outstanding at the beginning of the financial year |  |  | 2 735.0000 |
| Number of units issued |  |  | 377.0000 |
| Number of units redeemed |  |  | -970.0000 |
| Number of units outstanding at the end of the financial year |  |  | 2 142.0000 |
| Class |  |  | U-X-UKdist-mdist |
| Number of units outstanding at the beginning of the financial year |  |  | 1 048.0000 |
| Number of units issued |  |  | 373.0000 |
| Number of units redeemed |  |  | -34.0000 |
| Number of units outstanding at the end of the financial year |  |  | 1 387.0000 |
| Annual Distribution 1 |  |  |  |
| UBS (Lux) Bond Fund – Euro High Yield (EUR)	Ex-Date | Pay-Date | Currency | Amount per unit |
| N-dist	1.6.2022 | 7.6.2022 | EUR | 3.27 |
| P-dist	1.6.2022 | 7.6.2022 | EUR | 1.62 |
| Q-dist	1.6.2022 | 7.6.2022 | EUR | 4.08 |
| Monthly Distribution 1 |  |  |  |
| UBS (Lux) Bond Fund – Euro High Yield (EUR)	Ex-Date | Pay-Date | Currency | Amount per unit |
| (USD hedged) K-1-mdist	19.4.2022 | 22.4.2022 | USD | 20 892.82 |
| (USD hedged) K-1-mdist	16.5.2022 | 19.5.2022 | USD | 22 658.27 |
| (USD hedged) K-1-mdist	15.6.2022 | 21.6.2022 | USD | 22 291.95 |
| (USD hedged) K-1-mdist	15.7.2022 | 20.7.2022 | USD | 20 712.02 |
| (USD hedged) K-1-mdist	16.8.2022 | 19.8.2022 | USD | 21 539.43 |
| (USD hedged) K-1-mdist	15.9.2022 | 20.9.2022 | USD | 21 353.55 |
| K-B-mdist	19.4.2022 | 22.4.2022 | EUR | 0.37 |
| K-B-mdist	16.5.2022 | 19.5.2022 | EUR | 0.36 |
| K-B-mdist	15.6.2022 | 21.6.2022 | EUR | 0.36 |
| K-B-mdist	15.7.2022 | 20.7.2022 | EUR | 0.33 |
| K-B-mdist	16.8.2022 | 19.8.2022 | EUR | 0.35 |
| K-B-mdist	15.9.2022 | 20.9.2022 | EUR | 0.34 |
| K-B-mdist	17.10.2022 | 20.10.2022 | EUR | 0.33 |
| K-B-mdist	15.11.2022 | 18.11.2022 | EUR | 0.37 |
| K-B-mdist	15.12.2022 | 20.12.2022 | EUR | 0.38 |
| 1  See note 4 |  |  |  |

UBS (Lux) Bond Fund – Euro High Yield (EUR) Annual report and audited financial statement as of 31 March 2023
| UBS (Lux) Bond Fund – Euro High Yield (EUR) | Ex-Date | Pay-Date | Currency | Amount per unit |
| --- | --- | --- | --- | --- |
| K-B-mdist | 17.1.2023 | 20.1.2023 | EUR | 0.38 |
| K-B-mdist | 15.2.2023 | 21.2.2023 | EUR | 0.39 |
| K-B-mdist | 15.3.2023 | 20.3.2023 | EUR | 0.39 |
| P-6%-mdist | 11.4.2022 | 14.4.2022 | EUR | 0.38 |
| P-6%-mdist | 10.5.2022 | 13.5.2022 | EUR | 0.37 |
| P-6%-mdist | 10.6.2022 | 15.6.2022 | EUR | 0.36 |
| P-6%-mdist | 11.7.2022 | 14.7.2022 | EUR | 0.33 |
| P-6%-mdist | 10.8.2022 | 15.8.2022 | EUR | 0.34 |
| P-6%-mdist | 13.9.2022 | 16.9.2022 | EUR | 0.34 |
| P-6%-mdist | 11.10.2022 | 14.10.2022 | EUR | 0.33 |
| P-6%-mdist | 10.11.2022 | 15.11.2022 | EUR | 0.33 |
| P-6%-mdist | 12.12.2022 | 15.12.2022 | EUR | 0.34 |
| P-6%-mdist | 10.1.2023 | 13.1.2023 | EUR | 0.34 |
| P-6%-mdist | 10.2.2023 | 15.2.2023 | EUR | 0.35 |
| P-6%-mdist | 10.3.2023 | 15.3.2023 | EUR | 0.35 |
| P-mdist | 19.4.2022 | 22.4.2022 | EUR | 0.46 |
| P-mdist | 16.5.2022 | 19.5.2022 | EUR | 0.44 |
| P-mdist | 15.6.2022 | 21.6.2022 | EUR | 0.44 |
| P-mdist | 15.7.2022 | 20.7.2022 | EUR | 0.40 |
| P-mdist | 16.8.2022 | 19.8.2022 | EUR | 0.42 |
| P-mdist | 15.9.2022 | 20.9.2022 | EUR | 0.42 |
| P-mdist | 17.10.2022 | 20.10.2022 | EUR | 0.40 |
| P-mdist | 15.11.2022 | 18.11.2022 | EUR | 0.45 |
| P-mdist | 15.12.2022 | 20.12.2022 | EUR | 0.46 |
| P-mdist | 17.1.2023 | 20.1.2023 | EUR | 0.46 |
| P-mdist | 15.2.2023 | 21.2.2023 | EUR | 0.47 |
| P-mdist | 15.3.2023 | 20.3.2023 | EUR | 0.47 |
| (AUD hedged) P-mdist | 19.4.2022 | 22.4.2022 | AUD | 0.35 |
| (AUD hedged) P-mdist | 16.5.2022 | 19.5.2022 | AUD | 0.36 |
| (AUD hedged) P-mdist | 15.6.2022 | 21.6.2022 | AUD | 0.35 |
| (AUD hedged) P-mdist | 15.7.2022 | 20.7.2022 | AUD | 0.33 |
| (AUD hedged) P-mdist | 16.8.2022 | 19.8.2022 | AUD | 0.34 |
| (AUD hedged) P-mdist | 15.9.2022 | 20.9.2022 | AUD | 0.34 |
| (AUD hedged) P-mdist | 17.10.2022 | 20.10.2022 | AUD | 0.32 |
| (AUD hedged) P-mdist | 15.11.2022 | 18.11.2022 | AUD | 0.43 |
| (AUD hedged) P-mdist | 15.12.2022 | 20.12.2022 | AUD | 0.45 |
| (AUD hedged) P-mdist | 17.1.2023 | 20.1.2023 | AUD | 0.44 |
| (AUD hedged) P-mdist | 15.2.2023 | 21.2.2023 | AUD | 0.46 |
| (AUD hedged) P-mdist | 15.3.2023 | 20.3.2023 | AUD | 0.45 |
| (CAD hedged) P-mdist | 19.4.2022 | 22.4.2022 | CAD | 0.38 |
| (CAD hedged) P-mdist | 16.5.2022 | 19.5.2022 | CAD | 0.42 |
| (CAD hedged) P-mdist | 15.6.2022 | 21.6.2022 | CAD | 0.41 |
| (CAD hedged) P-mdist | 15.7.2022 | 20.7.2022 | CAD | 0.39 |
| (CAD hedged) P-mdist | 16.8.2022 | 19.8.2022 | CAD | 0.40 |
| (CAD hedged) P-mdist | 15.9.2022 | 20.9.2022 | CAD | 0.40 |
| (CAD hedged) P-mdist | 17.10.2022 | 20.10.2022 | CAD | 0.38 |
| (CAD hedged) P-mdist | 15.11.2022 | 18.11.2022 | CAD | 0.50 |
| (CAD hedged) P-mdist | 15.12.2022 | 20.12.2022 | CAD | 0.51 |
| (CAD hedged) P-mdist | 17.1.2023 | 20.1.2023 | CAD | 0.51 |
| (CAD hedged) P-mdist | 15.2.2023 | 21.2.2023 | CAD | 0.52 |
| (CAD hedged) P-mdist | 15.3.2023 | 20.3.2023 | CAD | 0.52 |
| (GBP hedged) P-mdist | 19.4.2022 | 22.4.2022 | GBP | 0.36 |
| (GBP hedged) P-mdist | 16.5.2022 | 19.5.2022 | GBP | 0.40 |
| (GBP hedged) P-mdist | 15.6.2022 | 21.6.2022 | GBP | 0.39 |
| (GBP hedged) P-mdist | 15.7.2022 | 20.7.2022 | GBP | 0.37 |
| (GBP hedged) P-mdist | 16.8.2022 | 19.8.2022 | GBP | 0.38 |
| (GBP hedged) P-mdist | 15.9.2022 | 20.9.2022 | GBP | 0.38 |
| (GBP hedged) P-mdist | 17.10.2022 | 20.10.2022 | GBP | 0.36 |
| (GBP hedged) P-mdist | 15.11.2022 | 18.11.2022 | GBP | 0.42 |
| (GBP hedged) P-mdist | 15.12.2022 | 20.12.2022 | GBP | 0.43 |
| (GBP hedged) P-mdist | 17.1.2023 | 20.1.2023 | GBP | 0.42 |
| (GBP hedged) P-mdist | 15.2.2023 | 21.2.2023 | GBP | 0.44 |
| (GBP hedged) P-mdist | 15.3.2023 | 20.3.2023 | GBP | 0.44 |
| (HKD hedged) P-mdist | 19.4.2022 | 22.4.2022 | HKD | 3.63 |
| (HKD hedged) P-mdist | 16.5.2022 | 19.5.2022 | HKD | 3.71 |
| (HKD hedged) P-mdist | 15.6.2022 | 21.6.2022 | HKD | 3.64 |
| (HKD hedged) P-mdist | 15.7.2022 | 20.7.2022 | HKD | 3.38 |
| (HKD hedged) P-mdist | 16.8.2022 | 19.8.2022 | HKD | 3.51 |
| (HKD hedged) P-mdist | 15.9.2022 | 20.9.2022 | HKD | 3.48 |
| (HKD hedged) P-mdist | 17.10.2022 | 20.10.2022 | HKD | 3.34 |
| (HKD hedged) P-mdist | 15.11.2022 | 18.11.2022 | HKD | 4.25 |
| (HKD hedged) P-mdist | 15.12.2022 | 20.12.2022 | HKD | 4.40 |
| (HKD hedged) P-mdist | 17.1.2023 | 20.1.2023 | HKD | 4.36 |
| (HKD hedged) P-mdist | 15.2.2023 | 21.2.2023 | HKD | 4.50 |
| (HKD hedged) P-mdist | 15.3.2023 | 20.3.2023 | HKD | 4.48 |
| (JPY hedged) P-mdist | 19.4.2022 | 22.4.2022 | JPY | 36.00 |
| (JPY hedged) P-mdist | 16.5.2022 | 19.5.2022 | JPY | 35.00 |
| (JPY hedged) P-mdist | 15.6.2022 | 21.6.2022 | JPY | 34.00 |
| (JPY hedged) P-mdist | 15.7.2022 | 20.7.2022 | JPY | 32.00 |

UBS (Lux) Bond Fund – Euro High Yield (EUR)
Annual report and audited financial statement as of 31 March 2023
| UBS (Lux) Bond Fund – Euro High Yield (EUR) | Ex-Date | Pay-Date | Currency | Amount per unit |
| --- | --- | --- | --- | --- |
| (JPY hedged) P-mdist | 16.8.2022 | 19.8.2022 | JPY | 33.00 |
| (JPY hedged) P-mdist | 15.9.2022 | 20.9.2022 | JPY | 33.00 |
| (JPY hedged) P-mdist | 17.10.2022 | 20.10.2022 | JPY | 32.00 |
| (JPY hedged) P-mdist | 15.11.2022 | 18.11.2022 | JPY | 27.00 |
| (JPY hedged) P-mdist | 15.12.2022 | 20.12.2022 | JPY | 27.00 |
| (JPY hedged) P-mdist | 17.1.2023 | 20.1.2023 | JPY | 27.00 |
| (JPY hedged) P-mdist | 15.2.2023 | 21.2.2023 | JPY | 28.00 |
| (JPY hedged) P-mdist | 15.3.2023 | 20.3.2023 | JPY | 28.00 |
| (RMB hedged) P-mdist | 19.4.2022 | 22.4.2022 | CNH | 7.14 |
| (RMB hedged) P-mdist | 16.5.2022 | 19.5.2022 | CNH | 6.20 |
| (RMB hedged) P-mdist | 15.6.2022 | 21.6.2022 | CNH | 6.10 |
| (RMB hedged) P-mdist | 15.7.2022 | 20.7.2022 | CNH | 5.66 |
| (RMB hedged) P-mdist | 16.8.2022 | 19.8.2022 | CNH | 5.88 |
| (RMB hedged) P-mdist | 15.9.2022 | 20.9.2022 | CNH | 5.81 |
| (RMB hedged) P-mdist | 17.10.2022 | 20.10.2022 | CNH | 5.57 |
| (RMB hedged) P-mdist | 15.11.2022 | 18.11.2022 | CNH | 4.58 |
| (RMB hedged) P-mdist | 15.12.2022 | 20.12.2022 | CNH | 4.73 |
| (RMB hedged) P-mdist | 17.1.2023 | 20.1.2023 | CNH | 4.68 |
| (RMB hedged) P-mdist | 15.2.2023 | 21.2.2023 | CNH | 4.82 |
| (RMB hedged) P-mdist | 15.3.2023 | 20.3.2023 | CNH | 4.80 |
| (SGD hedged) P-mdist | 19.4.2022 | 22.4.2022 | SGD | 0.38 |
| (SGD hedged) P-mdist | 16.5.2022 | 19.5.2022 | SGD | 0.42 |
| (SGD hedged) P-mdist | 15.6.2022 | 21.6.2022 | SGD | 0.41 |
| (SGD hedged) P-mdist | 15.7.2022 | 20.7.2022 | SGD | 0.38 |
| (SGD hedged) P-mdist | 16.8.2022 | 19.8.2022 | SGD | 0.40 |
| (SGD hedged) P-mdist | 15.9.2022 | 20.9.2022 | SGD | 0.39 |
| (SGD hedged) P-mdist | 17.10.2022 | 20.10.2022 | SGD | 0.38 |
| (SGD hedged) P-mdist | 15.11.2022 | 18.11.2022 | SGD | 0.47 |
| (SGD hedged) P-mdist | 15.12.2022 | 20.12.2022 | SGD | 0.49 |
| (SGD hedged) P-mdist | 17.1.2023 | 20.1.2023 | SGD | 0.49 |
| (SGD hedged) P-mdist | 15.2.2023 | 21.2.2023 | SGD | 0.50 |
| (SGD hedged) P-mdist | 15.3.2023 | 20.3.2023 | SGD | 0.50 |
| (USD hedged) P-mdist | 19.4.2022 | 22.4.2022 | USD | 0.38 |
| (USD hedged) P-mdist | 16.5.2022 | 19.5.2022 | USD | 0.41 |
| (USD hedged) P-mdist | 15.6.2022 | 21.6.2022 | USD | 0.40 |
| (USD hedged) P-mdist | 15.7.2022 | 20.7.2022 | USD | 0.37 |
| (USD hedged) P-mdist | 16.8.2022 | 19.8.2022 | USD | 0.39 |
| (USD hedged) P-mdist | 15.9.2022 | 20.9.2022 | USD | 0.38 |
| (USD hedged) P-mdist | 17.10.2022 | 20.10.2022 | USD | 0.37 |
| (USD hedged) P-mdist | 15.11.2022 | 18.11.2022 | USD | 0.49 |
| (USD hedged) P-mdist | 15.12.2022 | 20.12.2022 | USD | 0.50 |
| (USD hedged) P-mdist | 17.1.2023 | 20.1.2023 | USD | 0.50 |
| (USD hedged) P-mdist | 15.2.2023 | 21.2.2023 | USD | 0.52 |
| (USD hedged) P-mdist | 15.3.2023 | 20.3.2023 | USD | 0.51 |
| Q-6%-mdist | 11.4.2022 | 14.4.2022 | EUR | 0.43 |
| Q-6%-mdist | 10.5.2022 | 13.5.2022 | EUR | 0.41 |
| Q-6%-mdist | 10.6.2022 | 15.6.2022 | EUR | 0.41 |
| Q-6%-mdist | 11.7.2022 | 14.7.2022 | EUR | 0.38 |
| Q-6%-mdist | 10.8.2022 | 15.8.2022 | EUR | 0.39 |
| Q-6%-mdist | 13.9.2022 | 16.9.2022 | EUR | 0.39 |
| Q-6%-mdist | 11.10.2022 | 14.10.2022 | EUR | 0.37 |
| Q-6%-mdist | 10.11.2022 | 15.11.2022 | EUR | 0.38 |
| Q-6%-mdist | 12.12.2022 | 15.12.2022 | EUR | 0.39 |
| Q-6%-mdist | 10.1.2023 | 13.1.2023 | EUR | 0.38 |
| Q-6%-mdist | 10.2.2023 | 15.2.2023 | EUR | 0.39 |
| Q-6%-mdist | 10.3.2023 | 15.3.2023 | EUR | 0.39 |
| (USD hedged) Q-6%-mdist | 11.4.2022 | 14.4.2022 | USD | 0.47 |
| (USD hedged) Q-6%-mdist | 10.5.2022 | 13.5.2022 | USD | 0.46 |
| (USD hedged) Q-6%-mdist | 10.6.2022 | 15.6.2022 | USD | 0.45 |
| (USD hedged) Q-6%-mdist | 11.7.2022 | 14.7.2022 | USD | 0.42 |
| (USD hedged) Q-6%-mdist | 10.8.2022 | 15.8.2022 | USD | 0.44 |
| (USD hedged) Q-6%-mdist | 13.9.2022 | 16.9.2022 | USD | 0.43 |
| (USD hedged) Q-6%-mdist | 11.10.2022 | 14.10.2022 | USD | 0.41 |
| (USD hedged) Q-6%-mdist | 10.11.2022 | 15.11.2022 | USD | 0.42 |
| (USD hedged) Q-6%-mdist | 12.12.2022 | 15.12.2022 | USD | 0.44 |
| (USD hedged) Q-6%-mdist | 10.1.2023 | 13.1.2023 | USD | 0.43 |
| (USD hedged) Q-6%-mdist | 10.2.2023 | 15.2.2023 | USD | 0.45 |
| (USD hedged) Q-6%-mdist | 10.3.2023 | 15.3.2023 | USD | 0.45 |
| Q-mdist | 19.4.2022 | 22.4.2022 | EUR | 0.35 |
| Q-mdist | 16.5.2022 | 19.5.2022 | EUR | 0.34 |
| Q-mdist | 15.6.2022 | 21.6.2022 | EUR | 0.33 |
| Q-mdist | 15.7.2022 | 20.7.2022 | EUR | 0.31 |
| Q-mdist | 16.8.2022 | 19.8.2022 | EUR | 0.32 |
| Q-mdist | 15.9.2022 | 20.9.2022 | EUR | 0.32 |
| Q-mdist | 17.10.2022 | 20.10.2022 | EUR | 0.30 |
| Q-mdist | 15.11.2022 | 18.11.2022 | EUR | 0.34 |
| Q-mdist | 15.12.2022 | 20.12.2022 | EUR | 0.35 |
| Q-mdist | 17.1.2023 | 20.1.2023 | EUR | 0.35 |

UBS (Lux) Bond Fund – Euro High Yield (EUR) Annual report and audited financial statement as of 31 March 2023
| UBS (Lux) Bond Fund – Euro High Yield (EUR) | Ex-Date | Pay-Date | Currency | Amount per unit |
| --- | --- | --- | --- | --- |
| Q-mdist | 15.2.2023 | 21.2.2023 | EUR | 0.36 |
| Q-mdist | 15.3.2023 | 20.3.2023 | EUR | 0.36 |
| (GBP hedged) Q-mdist | 19.4.2022 | 22.4.2022 | GBP | 0.39 |
| (GBP hedged) Q-mdist | 16.5.2022 | 19.5.2022 | GBP | 0.44 |
| (GBP hedged) Q-mdist | 15.6.2022 | 21.6.2022 | GBP | 0.44 |
| (GBP hedged) Q-mdist | 15.7.2022 | 20.7.2022 | GBP | 0.41 |
| (GBP hedged) Q-mdist | 16.8.2022 | 19.8.2022 | GBP | 0.42 |
| (GBP hedged) Q-mdist | 15.9.2022 | 20.9.2022 | GBP | 0.42 |
| (GBP hedged) Q-mdist | 17.10.2022 | 20.10.2022 | GBP | 0.40 |
| (GBP hedged) Q-mdist | 15.11.2022 | 18.11.2022 | GBP | 0.46 |
| (GBP hedged) Q-mdist | 15.12.2022 | 20.12.2022 | GBP | 0.48 |
| (GBP hedged) Q-mdist | 17.1.2023 | 20.1.2023 | GBP | 0.47 |
| (GBP hedged) Q-mdist | 15.2.2023 | 21.2.2023 | GBP | 0.49 |
| (GBP hedged) Q-mdist | 15.3.2023 | 20.3.2023 | GBP | 0.49 |
| (USD hedged) Q-mdist | 19.4.2022 | 22.4.2022 | USD | 0.41 |
| (USD hedged) Q-mdist | 16.5.2022 | 19.5.2022 | USD | 0.45 |
| (USD hedged) Q-mdist | 15.6.2022 | 21.6.2022 | USD | 0.44 |
| (USD hedged) Q-mdist | 15.7.2022 | 20.7.2022 | USD | 0.41 |
| (USD hedged) Q-mdist | 16.8.2022 | 19.8.2022 | USD | 0.43 |
| (USD hedged) Q-mdist | 15.9.2022 | 20.9.2022 | USD | 0.42 |
| (USD hedged) Q-mdist | 17.10.2022 | 20.10.2022 | USD | 0.41 |
| (USD hedged) Q-mdist | 15.11.2022 | 18.11.2022 | USD | 0.54 |
| (USD hedged) Q-mdist | 15.12.2022 | 20.12.2022 | USD | 0.56 |
| (USD hedged) Q-mdist | 17.1.2023 | 20.1.2023 | USD | 0.55 |
| (USD hedged) Q-mdist | 15.2.2023 | 21.2.2023 | USD | 0.57 |
| (USD hedged) Q-mdist | 15.3.2023 | 20.3.2023 | USD | 0.57 |
| U-X-UKdist-mdist | 19.4.2022 | 22.4.2022 | EUR | 39.43 |
| U-X-UKdist-mdist | 16.5.2022 | 19.5.2022 | EUR | 22.38 |
| U-X-UKdist-mdist | 15.6.2022 | 21.6.2022 | EUR | 64.63 |
| U-X-UKdist-mdist | 15.7.2022 | 20.7.2022 | EUR | 43.96 |
| U-X-UKdist-mdist | 16.8.2022 | 19.8.2022 | EUR | 41.39 |
| U-X-UKdist-mdist | 15.9.2022 | 20.9.2022 | EUR | 46.31 |
| U-X-UKdist-mdist | 17.10.2022 | 20.10.2022 | EUR | 42.02 |
| U-X-UKdist-mdist | 15.11.2022 | 18.11.2022 | EUR | 47.44 |
| U-X-UKdist-mdist | 15.12.2022 | 20.12.2022 | EUR | 61.61 |
| U-X-UKdist-mdist | 17.1.2023 | 20.1.2023 | EUR | 40.83 |
| U-X-UKdist-mdist | 15.2.2023 | 21.2.2023 | EUR | 42.33 |
| U-X-UKdist-mdist | 15.3.2023 | 20.3.2023 | EUR | 41.49 |

UBS (Lux) Bond Fund – Euro High Yield (EUR)
Annual report and audited financial statement as of 31 March 2023

#### Statement of Investments in Securities and other Net Assets as of 31 March 2023
| Description | Quantity/ | Valuation in EUR | 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 |  |  |  |
| EUR |  |  |  |
| EUR	ALTICE FINCO SA-REG-S 4.75000% 17-15.01.28 | 8 430 000.00 | 6 312 131.10 | 0.55 |
| EUR	ALTICE FRANCE HOLDING SA-REG-S 8.00000% 19-15.05.27 | 15 455 000.00 | 11 513 109.52 | 1.00 |
| EUR	ALTICE FRANCE HOLDING SA-REG-S 4.00000% 20-15.02.28 | 1 105 000.00 | 723 624.72 | 0.06 |
| EUR	ALTICE FRANCE-REG-S 5.87500% 18-01.02.27 | 28 880 000.00 | 25 468 694.40 | 2.22 |
| EUR	ARD FINANCE SA-REG-S (PIK) 5.00000% 19-30.06.27 | 6 780 621.00 | 5 052 376.32 | 0.44 |
| EUR	ARDAGH METAL PACKAGING FINANCE -REG-S 3.00000% 21-01.09.29 | 3 180 000.00 | 2 361 150.00 | 0.21 |
| EUR	ARDAGH PACKAGING FINANCE/MP-REG-S 2.12500% 19-15.08.26 | 2 943 000.00 | 2 571 507.88 | 0.22 |
| EUR	ATLANTIA SPA-REG-S 1.87500% 21-12.02.28 | 2 400 000.00 | 2 011 200.00 | 0.17 |
| EUR	AZELIS FINANCE NV-REG-S 5.75000% 23-15.03.28 | 2 145 000.00 | 2 169 667.50 | 0.19 |
| EUR	BALL CORP 1.50000% 19-15.03.27 | 3 350 000.00 | 3 001 600.00 | 0.26 |
| EUR	BRITISH AIRWAYS PLC-REG-S 2.75000% 21-25.03.25 | 4 300 000.00 | 4 102 718.50 | 0.36 |
| EUR	CHEPLAPHARM ARZNEIMITTEL GMBH-REG-S 3.50000% 20-11.02.27 | 2 865 000.00 | 2 635 800.00 | 0.23 |
| EUR	CHROME HOLDCO REG-S-SUB 5.00000% 21-31.05.29 | 2 000 000.00 | 1 475 000.00 | 0.13 |
| EUR	CONSOLIDATED ENERGY FINANCE SA-REG-S 5.00000% 21-15.10.28 | 2 785 000.00 | 2 406 351.40 | 0.21 |
| EUR	CROWN EUROPEAN HOLDINGS SA-REG-S 2.87500% 18-01.02.26 | 7 180 000.00 | 6 867 095.60 | 0.60 |
| EUR	DEMIRE DUTCH MITSTND REL EST AG-REG-S 1.87500% 19-15.10.24 | 1 300 000.00 | 897 802.36 | 0.08 |
| EUR	DUFRY ONE BV-REG-S 2.50000% 17-15.10.24 | 1 730 000.00 | 1 697 735.50 | 0.15 |
| EUR	DUFRY ONE BV-REG-S 2.00000% 19-15.02.27 | 1 010 000.00 | 869 296.90 | 0.08 |
| EUR	EG GLOBAL FINANCE PLC-REG-S 3.62500% 19-07.02.24 | 2 790 000.00 | 2 723 877.00 | 0.24 |
| EUR	ELIOR GROUP SA-REG-S 3.75000% 21-15.07.26 | 2 390 000.00 | 2 084 137.37 | 0.18 |
| EUR	EP INFRASTRUCTURE AS-REG-S 1.69800% 19-30.07.26 | 2 300 000.00 | 1 903 250.00 | 0.17 |
| EUR	FAURECIA SE-REG-S 3.75000% 20-15.06.28 | 12 150 000.00 | 10 874 250.00 | 0.95 |
| EUR	FAURECIA-REG-S 2.75000% 21-15.02.27 | 3 600 000.00 | 3 195 280.80 | 0.28 |
| EUR	FORD MOTOR CREDIT CO LLC 2.38600% 19-17.02.26 | 6 645 000.00 | 6 179 876.59 | 0.54 |
| EUR	FORD MOTOR CREDIT CO LLC 2.33000% 19-25.11.25 | 3 670 000.00 | 3 413 870.70 | 0.30 |
| EUR	GARFUNKELUX HOLDCO 3 SA-REG-S 6.75000% 20-01.11.25 | 2 310 000.00 | 1 760 220.00 | 0.15 |
| EUR	GRIFOLS ESCROW ISSUER SA-REG-S 3.87500% 21-15.10.28 | 5 430 000.00 | 4 214 244.72 | 0.37 |
| EUR	GTC AURORA LUXEMBOURG SA-REG-S 2.25000% 21-23.06.26 | 4 400 000.00 | 3 454 825.00 | 0.30 |
| EUR	HEIMSTADEN AB-REG-S 4.25000% 21-09.03.26 | 700 000.00 | 490 941.02 | 0.04 |
| EUR	IHO VERWALTUNGS GMBH-REG-S (PIK) 3.87500% 19-15.05.27 | 2 585 000.00 | 2 265 985.15 | 0.20 |
| EUR	ILIAD HOLDING SASU-REG-S 5.12500% 21-15.10.26 | 4 510 000.00 | 4 337 790.16 | 0.38 |
| EUR	ILIAD HOLDING SASU-REG-S 5.62500% 21-15.10.28 | 3 000 000.00 | 2 787 948.00 | 0.24 |
| EUR	INEOS QUATTRO FINANCE 1 PLC-REG-S 3.75000% 21-15.07.26 | 7 220 000.00 | 6 245 300.00 | 0.54 |
| EUR	INTL CONSOLIDATED AIRLINES GP-REG-S 3.75000% 21-25.03.29 | 1 600 000.00 | 1 324 000.00 | 0.12 |
| EUR	INTRUM AB-REG-S 3.00000% 19-15.09.27 | 1 680 000.00 | 1 299 984.00 | 0.11 |
| EUR	IQVIA INC-REG-S 2.25000% 19-15.01.28 | 4 635 000.00 | 4 100 102.46 | 0.36 |
| EUR	IQVIA INC-REG-S 2.87500% 20-15.06.28 | 3 300 000.00 | 2 957 625.00 | 0.26 |
| EUR	JAGUAR LAND ROVER AUTOMOTIVE PLC-REG-S 6.87500% 19-15.11.26 | 1 000 000.00 | 953 550.00 | 0.08 |
| EUR	JAGUAR LAND ROVER AUTOMOTIVE PLC-REG-S 5.87500% 19-15.11.24 | 6 761 000.00 | 6 634 663.96 | 0.58 |
| EUR	LABORATOIRE EIMER SELARL-REG-S 5.00000% 21-01.02.29 | 1 735 000.00 | 1 292 793.61 | 0.11 |
| EUR	LHMC FINCO SARL-REG-S 6.25000% 18-20.12.23 | 10 431 000.00 | 2 506 432.45 | 0.22 |
| EUR	LOXAM SAS-REG-S 2.87500% 19-15.04.26 | 3 040 000.00 | 2 765 974.40 | 0.24 |
| EUR	LOXAM SAS-REG-S 3.75000% 19-15.07.26 | 8 735 000.00 | 8 091 317.85 | 0.70 |
| EUR	LUNE HOLDINGS SARL-REG-S 5.62500% 21-15.11.28 | 1 895 000.00 | 1 603 170.00 | 0.14 |
| EUR	MONITCHEM HOLDCO 2 SA-REG-S-SUB 9.50000% 19-15.09.26 | 10 792 000.00 | 10 738 040.00 | 0.93 |
| EUR	NH HOTEL GROUP SA-REG-S 4.00000% 21-02.07.26 | 4 000 000.00 | 3 752 160.00 | 0.33 |
| EUR	NIDDA BONDCO GMBH-REG-S 5.00000% 17-30.09.25 | 4 675 000.00 | 4 591 785.00 | 0.40 |
| EUR	NIDDA HEALTHCARE HOLDING AG-REG-S 3.50000% 17-30.09.24 | 534 000.00 | 522 618.32 | 0.05 |
| EUR	NIDDA HEALTHCARE HOLDING GMBH-REG-S 7.50000% 22-21.08.26 | 20 371 000.00 | 19 888 248.05 | 1.73 |
| EUR	NISSAN MOTOR CO LTD-REG-S 3.20100% 20-17.09.28 | 1 210 000.00 | 1 079 574.10 | 0.09 |
| EUR	ONTEX GROUP N.V-REG-S 3.50000% 21-15.07.26 | 6 920 000.00 | 6 054 280.32 | 0.53 |
| EUR	PUBLIC POWER CORP SA-REG-S 3.87500% 21-30.03.26 | 2 185 000.00 | 2 060 673.50 | 0.18 |
| EUR	ROLLS-ROYCE PLC-REG-S 4.62500% 20-16.02.26 | 4 900 000.00 | 4 845 198.40 | 0.42 |
| EUR	SAIPEM FINANCE INTERNATIONAL BV-REG-S 3.37500% 20-15.07.26 | 4 645 000.00 | 4 270 613.00 | 0.37 |
| EUR	SAZKA GROUP AS-REG-S 3.87500% 20-15.02.27 | 2 410 000.00 | 2 187 075.00 | 0.19 |
| EUR	SOFTBANK GROUP CORP-REG-S 5.00000% 18-15.04.28 | 10 780 000.00 | 9 360 201.77 | 0.81 |
| EUR	SOFTBANK GROUP CORP-REG-S 4.00000% 18-20.04.23 | 287 000.00 | 285 929.72 | 0.02 |
| EUR	SUMMER BC HOLDCO A SARL-REG-S 9.25000% 19-31.10.27 | 2 970 000.00 | 2 193 058.74 | 0.19 |
| EUR	TELECOM ITALIA SPA/MILANO-REG-S 6.87500% 23-15.02.28 | 4 410 000.00 | 4 498 200.00 | 0.39 |
| EUR	TEVA PHARMACEUTICAL FINANCE II BV 4.50000% 18-01.03.25 | 13 658 000.00 | 13 438 618.38 | 1.17 |
| EUR	TEVA PHARMACEUTICAL FIN 6.00000% 20-31.01.25 | 10 890 000.00 | 10 973 716.87 | 0.96 |
| EUR	TEVA PHARMACEUTICAL FINANCE II BV 3.75000% 21-09.05.27 | 6 630 000.00 | 5 982 746.25 | 0.52 |
| EUR	TEVA PHARMACEUTICAL FINANCE II BV 7.37500% 23-15.09.29 | 5 800 000.00 | 5 856 028.00 | 0.51 |
| EUR	TI AUTOMOTIVE FINANCE PLC-REG-S 3.75000% 21-15.04.29 | 2 700 000.00 | 2 052 000.00 | 0.18 |
| EUR	TITAN HOLDINGS II BV-REG-S 5.12500% 21-15.07.29 | 1 640 000.00 | 1 255 666.00 | 0.11 |
| EUR	TUI CRUISES GMBH-REG-S 6.50000% 21-15.05.26 | 3 880 000.00 | 3 462 900.00 | 0.30 |
| EUR	UNITED GROUP BV-REG-S 4.87500% 17-01.07.24 | 3 100 000.00 | 3 007 787.40 | 0.26 |
| EUR	VERISURE HOLDING AB-REG-S 9.25000% 22-15.10.27 | 2 735 000.00 | 2 930 032.85 | 0.26 |
| EUR	VERISURE HOLDING AB-REG-S 7.12500% 23-01.02.28 | 1 370 000.00 | 1 367 602.50 | 0.12 |
| EUR	VERISURE MIDHOLDING AB-REG-S 5.25000% 21-15.02.29 | 2 880 000.00 | 2 390 515.20 | 0.21 |
| EUR	VERTICAL HOLDCO GMBH-REG-S 6.62500% 20-15.07.28 | 4 750 000.00 | 3 611 314.80 | 0.31 |
| EUR	ZF EUROPE FINANCE BV-REG-S 2.50000% 19-23.10.27 | 1 300 000.00 | 1 130 142.00 | 0.10 |
| EUR	ZIGGO BOND CO BV-REG-S 3.37500% 20-28.02.30 | 1 040 000.00 | 804 046.88 | 0.07 |
| Total EUR |  | 306 189 044.99 | 26.67 |
| GBP |  |  |  |
| GBP	BRACKEN MIDCO1 PLC-REG-S 6.75000% 21-01.11.27 | 3 380 000.00 | 3 041 821.32 | 0.26 |
| GBP	MPT OPERATING PARTNERSHIP LP/FIN CORP 2.50000% 21-24.03.26 | 1 150 000.00 | 973 073.47 | 0.08 |
| GBP	PINNACLE BIDCO PLC-REG-S 6.37500% 18-15.02.25 | 6 420 000.00 | 6 722 871.48 | 0.59 |
| Total GBP |  | 10 737 766.27 | 0.93 |
| USD |  |  |  |
| USD	CREDIT SUISSE-REG-S-SUB 6.50000% 13-08.08.23 | 5 840 000.00 | 5 119 977.91 | 0.44 |
| USD	DRAX FINCO PLC-144A 6.62500% 18-01.11.25 | 3 300 000.00 | 2 988 057.44 | 0.26 |
| USD	ENQUEST PLC-REG-S 11.62500% 22-01.11.27 | 3 990 000.00 | 3 401 307.89 | 0.30 |
| USD	NEPTUNE ENERGY BONDCO PLC-REG-S 6.62500% 18-15.05.25 | 11 545 000.00 | 10 299 703.67 | 0.90 |
| Total USD |  | 21 809 046.91 | 1.90 |
| Total Notes, fixed rate |  | 338 735 858.17 | 29.50 |

UBS (Lux) Bond Fund – Euro High Yield (EUR) Annual report and audited financial statement as of 31 March 2023
| Description | Quantity/ | Valuation in EUR | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	ABANCA CORP BANCARIA SA-REG-S-SUB VAR 21-PRP | 3 200 000.00 | 2 583 680.00 | 0.22 |
| EUR	ABERTIS INFRA FINANCE BV-REG-S-SUB 3.248%/VAR 20-PRP | 7 700 000.00 | 6 845 300.00 | 0.60 |
| EUR	ACCOR SA-REG-S-SUB 2.625%/VAR 19-PRP | 4 200 000.00 | 3 833 550.00 | 0.33 |
| EUR	ALPHA BANK AE-REG-S-SUB 5.500%/VAR 21-11.06.31 | 1 680 000.00 | 1 336 440.00 | 0.12 |
| EUR	BANCO BPM SPA-REG-S-SUB 5.000%/VAR 20-14.09.30 | 3 340 000.00 | 3 185 525.00 | 0.28 |
| EUR	BANKINTER SA-REG-S-SUB COCO 7.375%/VAR 23-PRP | 3 000 000.00 | 2 795 172.00 | 0.24 |
| EUR	BAYER AG-REG-S-SUB 5.375%/VAR 22-25.03.82 | 4 200 000.00 | 3 847 662.00 | 0.33 |
| EUR	BNP PARIBAS SA-REG-S-SUB 7.375%/VAR 23-PRP | 1 600 000.00 | 1 522 000.00 | 0.13 |
| EUR	CASTELLUM AB-REG-S 3.125%/VAR 21-PRP | 2 990 000.00 | 1 958 450.00 | 0.17 |
| EUR	CITCON-REG-S-SUB 4.496%/VAR 19-PRP | 500 000.00 | 287 625.00 | 0.02 |
| EUR	CITYCON OYJ-REG-S-SUB 3.250%/VAR 21-PRP | 2 730 000.00 | 1 391 612.04 | 0.12 |
| EUR	CPI PROPERTY GROUP SA-REG-S-SUB 4.875%/VAR 20-PRP | 1 300 000.00 | 567 775.00 | 0.05 |
| EUR	DEUTSCHE BANK AG-REG-S-SUB 6.750%/VAR 22-PRP | 2 800 000.00 | 2 100 100.80 | 0.18 |
| EUR	EDP-ENERGIAS DE PORTUGAL SA-REG-S-SUB 4.496%/VAR 19-30.04.79 | 1 000 000.00 | 988 490.00 | 0.09 |
| EUR	ELECTRICITE DE FRANCE SA-REG-S-SUB 3.375%/VAR 20-PRP | 3 200 000.00 | 2 380 800.00 | 0.21 |
| EUR	ELECTRICITE DE FRANCE SA-REG-S-SUB 2.875%/VAR 20-PRP | 9 200 000.00 | 7 695 358.40 | 0.67 |
| EUR	FASTIGHETS AB BALDER-REG-S-SUB 2.873%/VAR 21-02.06.81 | 2 190 000.00 | 1 466 621.10 | 0.13 |
| EUR	HEIMSTADEN AB-REG-S-SUB 6.750%/VAR 21-PRP | 5 300 000.00 | 2 497 360.00 | 0.22 |
| EUR	NOVO BANCO SA-REG-S-SUB 8.500%/VAR 18-06.07.28 | 2 800 000.00 | 2 665 600.00 | 0.23 |
| EUR	PERMANENT TSB GROUP HOLDINGS PLC-REG-S-SUB VAR 22-PRP | 2 110 000.00 | 2 131 231.87 | 0.19 |
| EUR	RABOBANK NEDERLAND-REG-S-SUB 3.100%/VAR 21-PRP | 5 400 000.00 | 4 086 147.60 | 0.36 |
| EUR	REPSOL INTERNATIONAL FINANCE BV-SUB 4.247%/VAR 20-PRP | 2 645 000.00 | 2 369 708.40 | 0.21 |
| EUR	REPSOL INTERNATIONAL FINANCE BV-REG-S-SUB 2.500%/VAR 21-PRP | 2 200 000.00 | 1 909 600.00 | 0.17 |
| EUR	SAMHALLSBYGGNADSBOLAGET I NORDEN-REG-S-SUB 2.875%/VAR 21-PRP | 4 095 000.00 | 1 437 836.40 | 0.13 |
| EUR	TELEFONICA EUROPE BV-REG-S-SUB 2.376%/VAR 21-PRP | 800 000.00 | 625 977.60 | 0.05 |
| EUR	TELEFONICA EUROPE BV-REG-S-SUB 2.880%/VAR 21-PRP | 1 300 000.00 | 1 080 479.40 | 0.09 |
| EUR	TELEFONICA EUROPE BV-REG-S-SUB 7.125%/VAR 22-PRP | 800 000.00 | 813 000.00 | 0.07 |
| EUR	TELEFONICA EUROPE BV-REG-S-SUB 6.135%/VAR 23-PRP | 1 800 000.00 | 1 737 799.20 | 0.15 |
| EUR	UNICREDIT SPA-REG-S-SUB 2.731%/VAR 20-15.01.32 | 1 995 000.00 | 1 699 572.42 | 0.15 |
| EUR	VODAFONE GROUP PLC-REG-S-SUB 3.000%/VAR 20-27.08.80 | 5 470 000.00 | 4 413 163.18 | 0.38 |
| Total EUR |  | 72 253 637.41 | 6.29 |
| GBP |  |  |  |
| GBP	CO-OPRATIVE BNK FINCE PLC/THE-REG-S 9.000%/VAR 20-27.11.25 | 5 380 000.00 | 6 159 829.00 | 0.54 |
| GBP	TVL FINANCE PLC-REG-S OVR NT SONION+539.5BP 19-15.07.25 | 7 120 000.00 | 7 859 927.54 | 0.68 |
| Total GBP |  | 14 019 756.54 | 1.22 |
| USD |  |  |  |
| USD	ING GROEP NV-REG-S-SUB COCO 7.500%/VAR 23-PRP | 4 410 000.00 | 3 653 182.38 | 0.32 |
| USD	SOCIETE GENERAL SA-REG-S-SUB 7.375%/VAR 18-PRP | 3 000 000.00 | 2 499 828.17 | 0.22 |
| USD	SOCIETE GENERALE SA-REG-S-SUB 9.375%/VAR 22-PRP | 3 670 000.00 | 3 196 408.03 | 0.28 |
| USD	VODAFONE GROUP PLC-SUB 3.250%/VAR 21-04.06.81 | 1 663 000.00 | 1 297 300.27 | 0.11 |
| Total USD |  | 10 646 718.85 | 0.93 |
| Total Notes, floating rate |  | 96 920 112.80 | 8.44 |
| Medium term notes, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	BLACKSTONE PROPERTY PARTNERS EUR-REG-S 2.20000% 18-24.07.25 | 1 400 000.00 | 1 274 649.60 | 0.11 |
| EUR	BLACKSTONE PROPERTY PARTNERS EUR-REG-S 2.00000% 19-15.02.24 | 2 570 000.00 | 2 475 506.24 | 0.22 |
| EUR	CASTELLUM HELSINKI FINANCE HOLDIN-REG-S 2.00000% 22-24.03.25 | 1 857 000.00 | 1 681 884.90 | 0.15 |
| EUR	CELLNEX FINANCE CO SA -REG-S 1.25000% 21-15.01.29 | 2 600 000.00 | 2 126 628.40 | 0.19 |
| EUR	CELLNEX FINANCE CO SA-REG-S 2.00000% 21-15.09.32 | 8 900 000.00 | 6 869 963.40 | 0.60 |
| EUR	CELLNEX FINANCE CO SA-REG-S 2.25000% 22-12.04.26 | 8 100 000.00 | 7 602 805.80 | 0.66 |
| EUR	CPI PROPERTY GROUP SA-REG-S 2.75000% 20-12.05.26 | 5 270 000.00 | 4 184 643.50 | 0.36 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 3.75000% 21-11.02.28 | 1 100 000.00 | 1 000 973.60 | 0.09 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 3.50000% 21-14.07.29 | 2 800 000.00 | 2 448 577.60 | 0.21 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 2.87500% 21-16.05.27 | 8 100 000.00 | 7 288 704.00 | 0.64 |
| EUR	FASTIGHETS AB BALDER-REG-S 1.12500% 19-29.01.27 | 1 100 000.00 | 843 746.20 | 0.07 |
| EUR	FASTIGHETS AB BALDER-REG-S 1.25000% 20-28.01.28 | 1 470 000.00 | 1 044 631.98 | 0.09 |
| EUR	INFRASTRUTTURE WIRELESS ITALI SPA-REG-S 1.62500% 20-21.10.28 | 2 760 000.00 | 2 449 527.60 | 0.21 |
| EUR	INTESA SANPAOLO SPA-REG-S-SUB 2.92500% 20-14.10.30 | 2 760 000.00 | 2 239 083.12 | 0.21 |
| EUR	NASSA TOPCO AS-REG-S 2.87500% 17-06.04.24 | 5 754 000.00 | 5 582 818.50 | 0.49 |
| EUR	NATIONAL BANK OF GREECE SA-REG-S 7.25000% 22-22.11.27 | 3 170 000.00 | 3 188 785.42 | 0.28 |
| EUR	PPF TELECOM GROUP BV-REG-S 3.25000% 20-29.09.27 | 2 750 000.00 | 2 512 746.50 | 0.22 |
| EUR	RENAULT SA-REG-S 2.37500% 20-25.05.26 | 13 100 000.00 | 11 970 125.00 | 1.04 |
| EUR	RENAULT SA-REG-S 2.50000% 21-01.04.28 | 1 000 000.00 | 852 050.00 | 0.07 |
| EUR	RENAULT SA-REG-S 2.50000% 21-02.06.27 | 3 100 000.00 | 2 727 987.60 | 0.24 |
| EUR	ROLLS-ROYCE PLC-REG-S 1.62500% 18-09.05.28 | 1 700 000.00 | 1 406 750.00 | 0.12 |
| EUR	SAMHALLSBYGGNADSBOLAGET I NORDEN-REG-S 1.12500% 19-04.09.26 | 3 330 000.00 | 2 397 600.00 | 0.21 |
| EUR	SHAEFFLER AG-REG-S 3.37500% 20-12.10.28 | 5 700 000.00 | 5 209 013.40 | 0.45 |
| EUR	TELECOM ITALIA FINANCE SA 7.75000% 03-24.01.33 | 1 742 000.00 | 1 863 940.00 | 0.16 |
| EUR	TELECOM ITALIA SPA-REG-S 2.50000% 17-19.07.23 | 3 500 000.00 | 3 473 750.00 | 0.30 |
| EUR	TELECOM ITALIA SPA-REG-S 2.37500% 17-12.10.27 | 8 490 000.00 | 7 321 419.42 | 0.64 |
| EUR	TELECOM ITALIA SPA-REG-S 2.87500% 18-28.01.26 | 7 030 000.00 | 6 554 687.64 | 0.57 |
| EUR	TELECOM ITALIA SPA/MILANO-REG-S 1.62500% 21-18.01.29 | 3 980 000.00 | 3 114 190.80 | 0.27 |
| EUR	VALEO SA-REG-S 5.37500% 22-28.05.27 | 3 000 000.00 | 2 984 214.00 | 0.26 |
| EUR	WIZZ AIR FINANCE CO BV-REG-S 1.00000% 22-19.01.26 | 4 267 000.00 | 3 694 411.27 | 0.32 |
| EUR	ZF FINANCE GMBH-REG-S 3.75000% 20-21.09.28 | 7 200 000.00 | 6 417 115.20 | 0.56 |
| EUR	ZF FINANCE GMBH-REG-S 2.75000% 20-25.05.27 | 6 500 000.00 | 5 792 293.00 | 0.50 |
| EUR	ZF FINANCE GMBH-REG-S 2.25000% 21-03.05.28 | 1 700 000.00 | 1 427 432.20 | 0.12 |
| EUR	ZF FINANCE GMBH-REG-S 5.75000% 23-03.08.26 | 500 000.00 | 501 232.00 | 0.04 |
| Total EUR |  | 122 523 887.89 | 10.67 |
| GBP |  |  |  |
| GBP	FORD MOTOR CREDIT CO LLC 2.74800% 20-14.06.24 | 2 110 000.00 | 2 281 249.97 | 0.20 |
| Total GBP |  | 2 281 249.97 | 0.20 |
| Total Medium term notes, fixed rate |  | 124 805 137.86 | 10.87 |

UBS (Lux) Bond Fund – Euro High Yield (EUR)
Annual report and audited financial statement as of 31 March 2023
| Description | Quantity/ | Valuation in EUR | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Medium term notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	ALPHA BANK SA-REG-S 7.500%/VAR 22-16.06.27 | 3 000 000.00 | 2 957 340.00 | 0.26 |
| EUR	BANCO BPM SPA-REG-S 6.000%/VAR 22-21.01.28 | 2 395 000.00 | 2 393 352.24 | 0.21 |
| EUR	BANCO BPM SPA-REG-S-SUB 3.250%/VAR 20-14.01.2031 | 2 185 000.00 | 1 917 009.75 | 0.17 |
| EUR	BANCO COMERCIAL PORTUGUES SA +656.50BP 22-25.10.25 | 5 300 000.00 | 5 339 750.00 | 0.47 |
| EUR	BANCO COMERCIAL PORTUGUES SA-SUB 8.750%/VAR 22-05.03.33 | 1 500 000.00 | 1 289 520.00 | 0.11 |
| EUR	BANCO COMERCIAL PORTUGUES-REG-S-SUB 3.871%/VAR 19-27.03.30 | 2 600 000.00 | 1 961 362.00 | 0.17 |
| EUR	BANK OF IRELAND GROUP PLC-REG-S-SUB 6.750%/VAR 22-01.03.33 | 1 105 000.00 | 1 121 608.15 | 0.10 |
| EUR	BARCLAYS BANK PLC-SUB 4.750%/3M EURIBOR+71BP 05-PRP | 2 120 000.00 | 1 644 590.00 | 0.14 |
| EUR	COMMERZBANK AG-REG-S-SUB 4.000%/VAR 20-05.12.30 | 3 000 000.00 | 2 813 070.00 | 0.23 |
| EUR	CREDIT AGRICOLE SA-SUB-REG-S 7.250%/VAR 23-PRP | 3 300 000.00 | 3 201 990.00 | 0.28 |
| EUR	CREDIT SUISSE LONDON-REG-S 3M EURIBOR+100BP 21-01.09.23 | 3 910 000.00 | 3 860 749.64 | 0.34 |
| EUR	DEUTSCHE PFANDBRIEFBANK AG-REG-S-SUB 2.875%/VAR 17-28.06.27 | 1 700 000.00 | 1 326 000.00 | 0.12 |
| EUR	EDP - ENERGIAS DE PORT SA-REG-S-SUB 5.943%/VAR 23-23.04.83 | 2 900 000.00 | 2 842 000.00 | 0.25 |
| EUR	ELECTRICITE DE FRANCE SA-REG-S-SUB 5.000%/VAR 14-PRP | 5 100 000.00 | 4 692 958.80 | 0.41 |
| EUR	ENEL SPA-REG-S-SUB 6.375%/VAR 23-PRP | 2 010 000.00 | 2 020 050.00 | 0.18 |
| EUR	ICCREA BANCA SPA-REG-S 6.875%/VAR 23-20.01.28 | 3 160 000.00 | 3 193 635.04 | 0.28 |
| EUR	PIRAEUS BANK S.A-REG-S 8.250%/VAR 22-28.01.27 | 4 260 000.00 | 4 238 700.00 | 0.37 |
| EUR	PIRAEUS GROUP FINANCE PLC-REG-S-SUB 9.750%/VAR 19-26.06.29 | 5 315 000.00 | 4 985 236.14 | 0.43 |
| EUR	SOCIETE GENERALE SA-SUB-REG-S 7.875%/VAR 23-PRP | 2 700 000.00 | 2 453 733.00 | 0.21 |
| EUR	UNICREDIT SPA-REG-S 5.850%/VAR 22-15.11.27 | 4 215 000.00 | 4 300 167.45 | 0.37 |
| EUR	UNICREDIT SPA-REG-S-SUB 4.450%/VAR 21-PRP | 2 500 000.00 | 1 846 875.00 | 0.16 |
| Total EUR |  | 60 399 697.21 | 5.26 |
| GBP |  |  |  |
| GBP	LLOYDS BANKING GROUP PLC-SUB COCO 8.500%/VAR 23-PRP | 3 470 000.00 | 3 647 965.66 | 0.32 |
| Total GBP |  | 3 647 965.66 | 0.32 |
| Total Medium term notes, floating rate |  | 64 047 662.87 | 5.58 |
| Bonds, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	888 ACQUISITIONS LTD-REG-S 7.5580% 22-15.07.27 | 3 770 000.00 | 3 185 650.00 | 0.28 |
| EUR	ALMAVIVA-THE ITALIAN INNOVATION-REG-S 4.87500% 21-30.10.26 | 7 100 000.00 | 6 638 219.48 | 0.58 |
| EUR	ALTICE FINANCING SA-REG-S 2.25000% 20-15.01.25 | 1 060 000.00 | 996 393.64 | 0.09 |
| EUR	ALTICE FINANCING SA-REG-S 3.00000% 20-15.01.28 | 6 440 000.00 | 5 127 231.76 | 0.45 |
| EUR	ALTICE FRANCE-REG-S 3.37500% 19-15.01.28 | 6 630 000.00 | 5 168 085.00 | 0.45 |
| EUR	ALTICE FRANCE-REG-S 2.50000% 19-15.01.25 | 1 010 000.00 | 939 300.00 | 0.08 |
| EUR	CAB SELAS-REG-S 3.37500% 21-01.02.28 | 2 295 000.00 | 1 876 828.05 | 0.16 |
| EUR	CANARY WHARF GROUP INVST HOLG PLC-REG-S 1.75000% 21-07.04.26 | 3 230 000.00 | 2 551 964.31 | 0.22 |
| EUR	CARNIVAL CORP-REG-S 10.12500% 20-01.02.26 | 8 700 000.00 | 9 137 871.00 | 0.80 |
| EUR	CARNIVAL CORP-REG-S 7.62500% 20-01.03.26 | 2 160 000.00 | 1 922 140.80 | 0.17 |
| EUR	CASTOR SPA-REG-S 6.00000% 22-15.02.29 | 1 765 000.00 | 1 563 200.49 | 0.14 |
| EUR	CELANESE US HOLDINGS LLC 2.12500% 18-01.03.27 | 3 755 000.00 | 3 334 815.50 | 0.29 |
| EUR	CHEMOURS CO/THE 4.00000% 18-15.05.26 | 3 500 000.00 | 3 213 938.00 | 0.28 |
| EUR	CHEPLAPHARM ARZNEIMITTEL GMBH-REG-S 4.37500% 20-15.01.28 | 3 625 000.00 | 3 363 869.50 | 0.29 |
| EUR	CHROME BIDCO SASU-REG-S 3.50000% 21-31.05.28 | 3 020 000.00 | 2 504 063.20 | 0.22 |
| EUR	CIDRON AIDA FINCO SARL-REG-S 5.00000% 21-01.04.28 | 5 150 000.00 | 4 532 216.29 | 0.39 |
| EUR	CIRSA FINANCE INTERNATIONAL SARL-REG-S 10.37500% 22-30.11.27 | 6 570 000.00 | 6 947 775.00 | 0.60 |
| EUR	CITYCON TREASURY BV-REG-S 1.25000% 16-08.09.26 | 1 050 000.00 | 818 332.20 | 0.07 |
| EUR	CONTOURGLOBAL POWER HOLDINGS SA-REG-S 2.75000% 20-01.01.26 | 2 840 000.00 | 2 543 248.40 | 0.22 |
| EUR	DRAX FINCO PLC-REG-S 2.62500% 20-01.11.25 | 3 150 000.00 | 2 984 625.00 | 0.26 |
| EUR	DUFRY ONE BV-REG-S 3.37500% 21-15.04.28 | 5 015 000.00 | 4 399 739.74 | 0.38 |
| EUR	EP INFRASTRUCTURE AS-REG-S 1.65900% 18-26.04.24 | 1 030 000.00 | 961 633.75 | 0.08 |
| EUR	EP INFRASTRUCTURE AS-REG-S 2.04500% 19-09.10.28 | 2 170 000.00 | 1 621 125.62 | 0.14 |
| EUR	FASTIGHETS AB BALDER-REG-S 1.87500% 17-14.03.25 | 1 369 000.00 | 1 212 441.16 | 0.11 |
| EUR	FASTIGHETS AB BALDER-REG-S 1.87500% 17-23.01.26 | 4 150 000.00 | 3 491 577.60 | 0.30 |
| EUR	FAURECIA SE-REG-S 7.25000% 22-15.06.26 | 2 430 000.00 | 2 503 152.72 | 0.22 |
| EUR	FORD MOTOR CREDIT CO LLC 4.86700% 23-03.08.27 | 4 090 000.00 | 3 967 300.00 | 0.35 |
| EUR	GAMMA BONDCO SARL-REG-S 8.12500% 21-15.11.26 | 12 740 000.00 | 12 313 210.00 | 1.07 |
| EUR	GRIFOLS SA-REG-S 3.20000% 17-01.05.25 | 5 295 000.00 | 4 805 212.50 | 0.42 |
| EUR	GRUENENTHAL GMBH-REG-S 4.12500% 21-15.05.28 | 4 080 000.00 | 3 692 400.00 | 0.32 |
| EUR	GRUPO ANTOLIN-IRAUSA SA-REG-S 3.50000% 21-30.04.28 | 7 560 000.00 | 5 445 483.12 | 0.47 |
| EUR	GRUPO-ANTOLIN IRAUSA SA-REG-S 3.37500% 18-30.04.26 | 950 000.00 | 792 453.90 | 0.07 |
| EUR	HEIMSTADEN AB-REG-S 4.37500% 21-06.03.27 | 5 200 000.00 | 3 606 096.00 | 0.31 |
| EUR	IHO VERWALTUNGS GMBH-REG-S (PIK) 3.75000% 16-15.09.26 | 4 730 000.00 | 4 243 528.96 | 0.37 |
| EUR	INEOS QUATTRO FINANCE 2 PLC-REG-S 2.50000% 21-15.01.26 | 1 685 000.00 | 1 508 917.50 | 0.13 |
| EUR	INTER MEDIA AND COMMUNICATION-REG-S 6.75000% 22-09.02.27 | 1 850 000.00 | 1 726 050.00 | 0.15 |
| EUR	INTRUM JUSTITIA AB-REG-S 3.12500% 17-15.07.24 | 2 635 000.00 | 1 312 940.79 | 0.11 |
| EUR	ITALMATCH CHEMICALS SPA-REG-S 10.00000% 23-06.02.28 | 1 675 000.00 | 1 705 987.50 | 0.15 |
| EUR	KAPLA HOLDING SAS-REG-S 3.37500% 19-15.12.26 | 4 940 000.00 | 4 334 296.72 | 0.38 |
| EUR	LAGARDERE SCA-REG-S 1.75000% 21-07.10.27 | 6 200 000.00 | 6 028 384.00 | 0.52 |
| EUR	LHMC FINCO 2 SARL-REG-S (PIK) 7.25000% 19-02.10.25 | 5 629 743.00 | 5 186 119.25 | 0.45 |
| EUR	LORCA TELECOM BONDCO SAU-REG-S 4.00000% 20-18.09.27 | 7 970 000.00 | 7 304 106.50 | 0.64 |
| EUR	LOXAM SAS-REG-S 3.25000% 19-14.01.25 | 1 210 000.00 | 1 173 317.64 | 0.10 |
| EUR	LOXAM SAS-REG-S 6.00000% 17-15.04.25 | 4 655 000.00 | 2 238 390.72 | 0.19 |
| EUR	MARCOLIN SPA-REG-S 6.12500% 21-15.11.26 | 7 554 000.00 | 6 337 806.00 | 0.55 |
| EUR	MOTION FINCO SARL-REG-S 7.00000% 20-15.05.25 | 14 915 000.00 | 15 080 705.65 | 1.31 |
| EUR	MPT OPERATING PARTNERSHIP LP/FIN CORP 3.32500% 17-24.03.25 | 1 740 000.00 | 1 443 086.40 | 0.13 |
| EUR	NIDDA BONDCO GMBH-REG-S 7.25000% 18-30.09.25 | 10 157 000.00 | 9 932 530.30 | 0.87 |
| EUR	PAPREC HOLDING-REG-S-3.50000% 21-01.07.28 | 4 515 000.00 | 3 925 882.80 | 0.34 |
| EUR	PARTS EUROPE SA-REG-S 6.50000% 20-16.07.25 | 12 775 000.00 | 12 824 183.75 | 1.12 |
| EUR	PHM GROUP HOLDING OY-144A-REG-S 4.75000% 21-18.06.26 | 4 065 000.00 | 3 656 467.50 | 0.32 |
| EUR	PICARD GROUPE SAS-REG-S 3.87500% 21-01.07.26 | 2 190 000.00 | 1 947 023.88 | 0.17 |
| EUR	PINNACLE BIDCO PLC-REG-S 5.50000% 20-15.02.25 | 14 780 000.00 | 13 615 661.16 | 1.19 |
| EUR	PLT VII FINANCE SARL-REG-S 4.62500% 20-05.01.26 | 6 930 000.00 | 6 500 340.00 | 0.57 |
| EUR	ROSSINI SARL-REG-S 6.75000% 18-30.10.25 | 15 430 000.00 | 15 481 999.10 | 1.35 |
| EUR	SIGMA HOLDCO BV-REG-S 5.75000% 18-15.05.26 | 4 190 000.00 | 3 319 737.00 | 0.29 |
| EUR	SIGNA DEVELOPMENT FINANCE SCS-REG-S 5.50000% 21-23.07.26 | 1 400 000.00 | 826 000.00 | 0.07 |
| EUR	SOFTBANK GROUP CORP-REG-S 5.25000% 15-30.07.27 | 3 820 000.00 | 3 523 848.00 | 0.31 |
| EUR	SUMMER BC HOLDCO B SARL-REG-S 5.75000% 19-31.10.26 | 12 515 000.00 | 10 888 050.00 | 0.95 |
| EUR	SUMMER BIDCO BV-REG-S (PIK) 9.00000% 19-15.11.25 | 7 129 000.00 | 6 358 593.99 | 0.55 |

UBS (Lux) Bond Fund – Euro High Yield (EUR) Annual report and audited financial statement as of 31 March 2023
|  | Description | Quantity/ | Valuation in EUR | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| EUR | SUMMER BIDCO BV-REG-S (PIK) STEP-DOWN 20-15.11.25 | 8 545 000.00 | 7 438 058.12 | 0.65 |
| EUR | SUPERIOR INDUSTRIES INTERNATIONAL-REG-S 6.00000% 17-15.06.25 | 7 889 000.00 | 7 147 434.00 | 0.62 |
| EUR | TEREOS FINANCE GROUPE I SA-REG-S 7.50000% 20-30.10.25 | 3 310 000.00 | 3 366 270.00 | 0.29 |
| EUR | TRIVIUM PACKAGING FINANCE BV-REG-S 3.75000% 19-15.08.26 | 9 244 000.00 | 8 514 093.76 | 0.74 |
| EUR | UNITED GROUP BV-REG-S 4.00000% 20-15.11.27 | 3 850 000.00 | 2 829 534.40 | 0.25 |
| EUR | VALLOUREC SA-REG-S 8.50000% 21-30.06.26 | 3 460 000.00 | 3 442 700.00 | 0.30 |
| EUR | VERISURE HOLDING AB-REG-S 3.87500% 20-15.07.26 | 4 040 000.00 | 3 738 616.00 | 0.33 |
| EUR | VERTICAL MIDCO GMBH-REG-S 4.37500% 20-15.07.27 | 2 520 000.00 | 2 274 300.00 | 0.20 |
| EUR | VZ VENDOR FINANCING II BV-REG-S 2.87500% 20-15.01.29 | 1 590 000.00 | 1 266 037.50 | 0.11 |
| EUR | ZIGGO BV-REG-S 2.87500% 19-15.01.30 | 4 340 000.00 | 3 558 800.00 | 0.31 |
| EUR | ZONCOLAN BIDCO SPA-REG-S 4.87500% 21-21.10.28 | 2 860 000.00 | 2 243 384.00 | 0.20 |
| Total EUR |  |  | 316 404 776.62 | 27.56 |
| GBP |  |  |  |  |
| GBP | BELLIS ACQUISITION CO PLC-REG-S 4.50000% 21-16.02.26 | 4 855 000.00 | 4 664 161.89 | 0.41 |
| GBP | CIDRON AIDA FINCO SARL-REG-S 6.25000% 21-01.04.28 | 1 505 000.00 | 1 453 899.10 | 0.13 |
| GBP | GALAXY BIDCO LTD-REG-S 6.50000% 19-31.07.26 | 2 290 000.00 | 2 332 519.76 | 0.20 |
| GBP | GALAXY FINCO LTD-REG-S 9.25000% 19-31.07.27 | 8 760 000.00 | 8 698 339.54 | 0.76 |
| GBP | GARFUNKELUX HOLDCO 3 SA-REG-S 7.75000% 20-01.11.25 | 1 225 000.00 | 1 049 081.93 | 0.09 |
| GBP | JERROLD FINCO PLC-REG-S 4.87500% 20-15.01.26 | 1 870 000.00 | 1 829 703.03 | 0.16 |
| GBP | JERROLD FINCO PLC-REG-S 5.25000% 21-15.01.27 | 8 425 000.00 | 8 004 798.01 | 0.70 |
| GBP | MAISON FINCO PLC-REG-S 6.00000% 21-31.10.27 | 7 025 000.00 | 6 518 147.64 | 0.57 |
| GBP | STONEGATE PUB CO FIN2019 PLC-REG-S 8.25000% 20-31.07.25 | 3 630 000.00 | 3 844 552.73 | 0.33 |
| GBP | VERY GROUP FUNDING PLC/THE-REG-S 6.50000% 21-01.08.26 | 5 958 000.00 | 5 166 807.54 | 0.45 |
| GBP | VIRGIN MEDIA VENDOR FINANCING-REG-S 4.87500% 20-15.07.28 | 3 265 000.00 | 3 153 248.13 | 0.27 |
| Total GBP |  |  | 46 715 259.30 | 4.07 |
| USD |  |  |  |  |
| USD | TELECOM ITALIA CAPITAL 6.00000% 05-30.09.34 | 5 592 000.00 | 4 413 585.53 | 0.38 |
| Total USD |  |  | 4 413 585.53 | 0.38 |
| Total Bonds, fixed rate |  | 367 533 621.45 | 32.01 |
| Bonds, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	888 ACQUISITIONS LTD-REG-S 3M EURIBOR+550BP 22-15.07.28 | 2 830 000.00 | 2 440 875.00 | 0.21 |
| EUR	ACCOR SA-REG-S-SUB 4.375%/VAR 19-PRP | 900 000.00 | 872 116.20 | 0.08 |
| EUR	BANCO BPM SPA-REG-S-SUB 4.250%/VAR 19-01.10.29 | 4 340 000.00 | 4 118 147.88 | 0.36 |
| EUR	BANCO DE CREDITO SOCIAL-REG-S 8.000%/VAR 22-22.09.26 | 5 700 000.00 | 5 755 632.00 | 0.50 |
| EUR	BANCO DE SABADELL SA-REG-S-SUB 5.000%/VAR 21-PRP | 2 200 000.00 | 1 534 126.00 | 0.13 |
| EUR	BANCO SANTANDER SA-REG-S-SUB 4.375%/VAR 20-PRP | 1 400 000.00 | 1 100 800.40 | 0.10 |
| EUR	BAYER AG-REG-S-SUB 2.375%/VAR 19-12.11.79 | 4 300 000.00 | 3 985 885.00 | 0.35 |
| EUR	BAYER AG-REG-S-SUB 3.750/VAR 14-01.07.74 | 1 700 000.00 | 1 647 966.40 | 0.14 |
| EUR	CASTOR SPA-REG-S 3M EURIBOR+525BP 22-15.02.29 | 2 128 000.00 | 2 028 486.21 | 0.18 |
| EUR	CPI PROPERTY GROUP SA-REG-S-SUB 4.875%/VAR 19-PRP | 2 550 000.00 | 1 064 306.25 | 0.09 |
| EUR	ENBW ENERGIE BADEN-WUERTTEMBERG-REG-S 1.375%/VAR 21-31.08.81 | 2 700 000.00 | 2 087 056.80 | 0.18 |
| EUR	ENEL SPA-REG-S-SUB 3.375%/VAR 18-PRP | 5 780 000.00 | 5 245 350.00 | 0.46 |
| EUR	GOLDEN GOOSE SPA-REG-S 3M EURIBOR+487.5BP 21-14.05.27 | 9 885 000.00 | 9 625 518.75 | 0.84 |
| EUR	HEIMSTADEN BOSTAD AB-REG-S-SUB 2.625%/VAR 21-PRP | 2 400 000.00 | 1 200 000.00 | 0.10 |
| EUR	ITALMATCH CHEMICALS SPA-REG-S 3M EURIBOR+550BP 23-06.02.28 | 1 955 000.00 | 1 878 266.25 | 0.16 |
| EUR	KAPLA HOLDING SAS-REG-S 3M EURIBOR+550BP 23-15.07.27 | 1 245 000.00 | 1 246 362.03 | 0.11 |
| EUR	LEASEPLAN CORPORATION NV-REG-S-SUB 7.375%/VAR 19-PRP | 5 430 000.00 | 5 216 492.40 | 0.45 |
| EUR	LIBERTY MUTUAL GROUP INC-REG-S-SUB 3.625%/VAR 19-23.05.59 | 3 460 000.00 | 3 165 900.00 | 0.28 |
| EUR	NOVO BANCO SA-REG-S 6.822%/VAR 21-15.09.23 | 7 600 000.00 | 7 504 772.00 | 0.65 |
| EUR	ROSSINI SARL-REG-S 3M EURIBOR+387.5BP 19-30.10.25 | 2 100 000.00 | 2 079 000.00 | 0.18 |
| EUR	TELEFONICA EUROPE BV-REG-S-SUB 3.875%/VAR 18-PRP | 5 600 000.00 | 5 168 038.40 | 0.45 |
| EUR	TELEFONICA EUROPE BV-REG-S-SUB 4.375%/VAR 19-PRP | 6 900 000.00 | 6 720 876.00 | 0.59 |
| EUR	UNIBAIL-RODAMCO SE-REG-S-SUB 2.125%/VAR 18-PRP | 3 400 000.00 | 2 890 244.80 | 0.25 |
| EUR	UNITED GROUP BV-REG-S 3M EURIBOR+487.5BP 22-01.02.29 | 2 990 000.00 | 2 492 165.00 | 0.22 |
| EUR	VODAFONE GROUP PLC-REG-S-SUB 4.200%/VAR 18-03.10.78 | 1 045 000.00 | 952 204.00 | 0.08 |
| Total EUR |  | 82 020 587.77 | 7.14 |
| Total Bonds, floating rate |  | 82 020 587.77 | 7.14 |
| Convertible bonds, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	BANCO BILBALO VIZCAYA ARGENT-REG-S-SUB 5.875%/VAR 18-PRP | 5 200 000.00 | 4 945 428.80 | 0.43 |
| EUR	BANK OF IRELAND GROUP PLC-REG-S-SUB COCO 7.500%/VAR 20-PRP | 1 980 000.00 | 1 910 581.20 | 0.17 |
| EUR	BANK OF IRELAND GROUP PLC-REG-S-SUB COCO 6.000%/VAR 20-PRP | 3 780 000.00 | 3 439 800.00 | 0.30 |
| Total EUR |  | 10 295 810.00 | 0.90 |
| Total Convertible bonds, floating rate |  | 10 295 810.00 | 0.90 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 1 084 358 790.92 | 94.44 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Medium term notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	INTESA SANPAOLO SPA-144A-SUB 7.700%/VAR 15-PRP | 1 615 000.00 | 1 363 857.06 | 0.12 |
| Total USD |  | 1 363 857.06 | 0.12 |
| Total Medium term notes, floating rate |  | 1 363 857.06 | 0.12 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 1 363 857.06 | 0.12 |

UBS (Lux) Bond Fund – Euro High Yield (EUR)
Annual report and audited financial statement as of 31 March 2023
| Description | Quantity/ | Valuation in EUR | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |

UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010
Investment funds, open end
| Ireland |  |
| --- | --- |
| EUR | UBS (IRL) SELECT MONEY MARKET FUND-EUR-S-DIST | 597.85 | 5 978 500.00 | 0.52 |
| Total Ireland | 5 978 500.00 | 0.52 |
| Total Investment funds, open end | 5 978 500.00 | 0.52 |
| Total UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 | 5 978 500.00 | 0.52 |
| Total investments in securities | 1 091 701 147.98 | 95.08 |


#### Derivative instruments
Derivative instruments not listed on an official stock exchange and not traded on another regulated market
Credit default swaps*
| EUR | ICE//ITRX EUROPE S38 V1 CDI PAY 1.00000% 23-20.12.27 | -250 000 000.00 | -2 420 333.33 | -0.21 |
| --- | --- | --- | --- | --- |
| EUR | CITI/ALGSCO CREDIT DEFAULT SWAP REC 5.00000% 22-20.12.26 | 2 000 000.00 | 259 465.98 | 0.02 |
| EUR | CITI/ALGSCO CREDIT DEFAULT SWAP REC 5.00000% 21-20.12.26 | 3 000 000.00 | 389 198.97 | 0.04 |
| EUR | GS/INTERNATIONAL GAME TECHNOLOG CREDIT DEFAULT SWAP REC 5.00000% 22-20.06.27 | 5 000 000.00 | 600 295.94 | 0.05 |
| EUR | ICE/ITRX XOVER EUROPE S38 V1 CDI REC 5.00000% 22-20.12.27 | 50 000 000.00 | 1 874 883.34 | 0.17 |
| EUR | JPMORGAN/UNITED GROUP BV CREDIT DEFAULT SWAP REC 5.00000% 22-20.12.27 | 4 500 000.00 | -814 271.95 | -0.07 |
| EUR | JPMORGAN/UNITED GROUP BV CREDIT DEFAULT SWAP REC 5.00000% 22-20.12.25 | 5 000 000.00 | -519 179.11 | -0.05 |
| Total Credit default swaps | -629 940.16 | -0.05 |
| Total Derivative instruments not listed on an official stock exchange and not traded on another regulated market | -629 940.16 | -0.05 |
| Total Derivative instruments | -629 940.16 | -0.05 |
| Forward Foreign Exchange contracts |  |  |
| Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date |  |  |

| CAD | 22 661 100.00 | EUR | 15 408 988.84 | 18.4.2023 | -5 808.53 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| AUD | 58 985 400.00 | EUR | 36 669 692.15 | 18.4.2023 | -317 637.97 | -0.03 |
| GBP | 13 997 000.00 | EUR | 15 848 691.36 | 18.4.2023 | 73 024.90 | 0.01 |
| EUR | 72 681 824.58 | GBP | 64 190 000.00 | 18.4.2023 | -334 890.90 | -0.03 |
| JPY | 5 902 962 200.00 | EUR | 41 098 868.09 | 18.4.2023 | -217 498.53 | -0.02 |
| HKD | 87 114 800.00 | EUR | 10 360 304.91 | 18.4.2023 | -145 735.69 | -0.01 |
| SGD | 42 492 000.00 | EUR | 29 486 075.44 | 18.4.2023 | -79 388.58 | -0.01 |
| CHF | 30 507 900.00 | EUR | 31 178 901.13 | 18.4.2023 | -418 914.93 | -0.04 |
| USD | 303 137 800.00 | EUR | 283 648 323.68 | 18.4.2023 | -4 848 276.65 | -0.42 |
| EUR | 58 659 505.39 | USD | 62 690 000.00 | 18.4.2023 | 1 002 641.26 | 0.09 |
| CNH | 81 700 000.00 | EUR | 11 052 021.20 | 18.4.2023 | -98 107.71 | -0.01 |
| EUR | 455 510.12 | SGD | 649 700.00 | 18.4.2023 | 5 883.73 | 0.00 |
| EUR | 417 413.54 | GBP | 365 600.00 | 18.4.2023 | 1 540.18 | 0.00 |
| JPY | 69 452 800.00 | EUR | 496 881.86 | 18.4.2023 | -15 881.73 | 0.00 |
| EUR | 224 852.94 | CAD | 327 700.00 | 18.4.2023 | 2 109.02 | 0.00 |
| EUR | 4 254 059.39 | USD | 4 496 300.00 | 18.4.2023 | 118 749.80 | 0.01 |
| EUR | 493 983.01 | AUD | 788 900.00 | 18.4.2023 | 7 792.60 | 0.00 |
| EUR | 229 208.29 | CAD | 334 400.00 | 18.4.2023 | 1 910.26 | 0.00 |
| EUR | 442 743.21 | CHF | 436 800.00 | 18.4.2023 | 2 333.94 | 0.00 |
| EUR | 515 807.39 | AUD | 822 100.00 | 18.4.2023 | 9 156.19 | 0.00 |
| EUR | 635 773.88 | JPY | 89 493 700.00 | 18.4.2023 | 15 979.12 | 0.00 |
| EUR | 141 442.70 | HKD | 1 184 600.00 | 18.4.2023 | 2 543.47 | 0.00 |
| EUR | 322 731.75 | SGD | 462 300.00 | 18.4.2023 | 2 795.97 | 0.00 |
| EUR | 164 611.00 | CNH | 1 209 200.00 | 18.4.2023 | 2 487.72 | 0.00 |
| USD | 6 040 000.00 | EUR | 5 622 984.83 | 18.4.2023 | -67 912.90 | -0.01 |
| EUR | 2 346 324.32 | GBP | 2 055 000.00 | 18.4.2023 | 8 742.92 | 0.00 |
| EUR | 294 424.29 | GBP | 260 000.00 | 18.4.2023 | -1 328.10 | 0.00 |
| EUR | 286 322.80 | CAD | 423 700.00 | 18.4.2023 | -1 674.14 | 0.00 |
| EUR | 565 446.54 | SGD | 815 500.00 | 18.4.2023 | 1 077.88 | 0.00 |
| EUR | 5 213 755.94 | USD | 5 629 200.00 | 18.4.2023 | 36 502.48 | 0.01 |
| EUR | 171 907.74 | CNH | 1 274 300.00 | 18.4.2023 | 1 056.19 | 0.00 |
| EUR | 451 323.52 | GBP | 400 000.00 | 18.4.2023 | -3 680.16 | 0.00 |
| USD | 4 253 200.00 | EUR | 3 899 744.33 | 18.4.2023 | 11 982.81 | 0.00 |
| SGD | 592 200.00 | EUR | 410 078.71 | 18.4.2023 | -245.33 | 0.00 |
| GBP | 191 200.00 | EUR | 215 971.74 | 18.4.2023 | 1 520.02 | 0.00 |
| CAD | 316 100.00 | EUR | 212 704.39 | 18.4.2023 | 2 154.79 | 0.00 |
| EUR | 3 667 450.28 | USD | 3 971 900.00 | 18.4.2023 | 14 438.66 | 0.00 |
| Total Forward Foreign Exchange contracts | -5 230 557.94 | -0.46 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 47 591 006.76** | 4.14 |
| Bank overdraft and other short-term liabilities | -2 694 473.02 | -0.23 |
| Other assets and liabilities | 17 463 202.18 | 1.52 |
| Total net assets | 1 148 200 385.80 | 100.00 |
| * Positive nominal: the subfund is “Receiver”, negative nominal: the subfund is “Payer”. ** As at 31 March 2023, cash amounts serve as collateral for the counterparty JP Morgan for an amount of EUR 1 100 000.00. |  |  |

UBS (Lux) Bond Fund – Euro High Yield (EUR) Annual report and audited financial statement as of 31 March 2023

Translation (ENDE, 2023-03-31):
# UBS (Lux) Bond Fund – Euro High Yield (EUR)
| Dreijahresvergleich |  |
| --- | --- |
|  | ISIN | 31.3.2023 | 31.3.2022 | 31.3.2021 |
| Nettovermögen in EUR |  | 1 148 200 385.80 | 1 431 122 028.59 | 1 730 167 720.42 |
| Klasse F-acc | LU0415181469 |  |  |  |
| Anteile im Umlauf |  | 9 989.0000 | 9 989.0000 | 9 989.0000 |
| Nettoinventarwert pro Anteil in EUR |  | 226.89 | 233.65 | 236.56 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | 226.89 | 233.65 | 236.56 |
| Klasse (USD hedged) F-acc | LU1611257251 |  |  |  |
| Anteile im Umlauf |  | 411 397.5400 | 669 602.5400 | 692 811.5400 |
| Nettoinventarwert pro Anteil in USD |  | 122.85 | 123.36 | 123.99 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 |  | 122.85 | 123.36 | 123.99 |
| Klasse I-A1-acc | LU0415181899 |  |  |  |
| Anteile im Umlauf |  | 1 005 264.6260 | 1 295 957.1530 | 1 317 602.6460 |
| Nettoinventarwert pro Anteil in EUR |  | 150.32 | 154.95 | 157.04 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | 150.32 | 154.95 | 157.04 |
| Klasse I-A2-acc 2 | LU1368322555 |  |  |  |
| Anteile im Umlauf |  | - | 4 995.0000 | 4 995.0000 |
| Nettoinventarwert pro Anteil in EUR |  | - | 126.17 | 127.82 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | - | 126.17 | 127.82 |
| Klasse (USD hedged) I-A2-acc 3 | LU1545724228 |  |  |  |
| Anteile im Umlauf |  | - | 14 609.1050 | 353 467.3370 |
| Nettoinventarwert pro Anteil in USD |  | - | 104.43 | 104.99 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 |  | - | 104.43 | 104.99 |
| Klasse I-B-acc | LU0415182517 |  |  |  |
| Anteile im Umlauf |  | 27 075.7260 | 9 995.1760 | 20 397.7770 |
| Nettoinventarwert pro Anteil in EUR |  | 227.63 | 233.33 | 235.14 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | 227.63 | 233.33 | 235.14 |
| Klasse (USD hedged) I-B-acc | LU2107562485 |  |  |  |
| Anteile im Umlauf |  | 151 979.0000 | 168 101.0000 | 233 111.0000 |
| Nettoinventarwert pro Anteil in USD |  | 107.42 | 107.35 | 107.37 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 |  | 107.42 | 107.35 | 107.37 |
| Klasse I-X-acc | LU0415182780 |  |  |  |
| Anteile im Umlauf |  | 296 894.6190 | 357 633.0070 | 1 497 519.5970 |
| Nettoinventarwert pro Anteil in EUR |  | 136.37 | 139.70 | 140.71 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | 136.37 | 139.70 | 140.71 |
| Klasse (CHF hedged) I-X-acc | LU0654646750 |  |  |  |
| Anteile im Umlauf |  | 106 923.1710 | 95 211.6330 | 87 933.4350 |
| Nettoinventarwert pro Anteil in CHF |  | 122.13 | 126.10 | 127.38 |
| Ausgabe- und Rücknahmepreis pro Anteil in CHF 1 |  | 122.13 | 126.10 | 127.38 |
| Klasse K-1-acc | LU0415180909 |  |  |  |
| Anteile im Umlauf |  | 1.1000 | 1.1000 | 2.2000 |
| Nettoinventarwert pro Anteil in EUR |  | 5 872 164.06 | 6 060 356.17 | 6 149 191.19 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | 5 872 164.06 | 6 060 356.17 | 6 149 191.19 |
| Klasse (USD hedged) K-1-acc 4 | LU1004765761 |  |  |  |
| Anteile im Umlauf |  | - | - | 0.9000 |
| Nettoinventarwert pro Anteil in USD |  | - | - | 7 425 648.27 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 |  | - | - | 7 425 648.27 |
| Klasse (USD hedged) K-1-mdist 5 | LU1329801796 |  |  |  |
| Anteile im Umlauf |  | - | 2.9000 | 2.9000 |
| Nettoinventarwert pro Anteil in USD |  | - | 4 793 762.91 | 5 093 464.38 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 |  | - | 4 793 762.92 | 5 093 464.38 |
| Klasse K-B-mdist | LU2208382932 |  |  |  |
| Anteile im Umlauf |  | 119 538.0570 | 113 650.0370 | 113 650.0370 |
| Nettoinventarwert pro Anteil in EUR |  | 92.29 | 99.21 | 104.65 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | 92.29 | 99.21 | 104.65 |
| Klasse N-dist | LU0415180495 |  |  |  |
| Anteile im Umlauf |  | 35 962.3600 | 39 701.0930 | 42 986.6410 |
| Nettoinventarwert pro Anteil in EUR |  | 92.49 | 99.86 | 104.92 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | 92.49 | 99.86 | 104.92 |
| Klasse P-6%-mdist | LU1076698254 |  |  |  |
| Anteile im Umlauf | 292 511.3180 | 309 273.7910 | 322 863.8610 |
| Nettoinventarwert pro Anteil in EUR | 69.19 | 76.20 | 82.51 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 | 69.19 | 76.20 | 82.51 |
| 1  Siehe Erläuterung 1 2  Die Anteilsklasse I-A2-acc war bis zum 21.12.2022 im Umlauf 3  Die Anteilsklasse (USD hedged) I-A2-acc war bis zum 30.6.2022 im Umlauf 4  Die Anteilsklasse (USD hedged) K-1-acc war bis zum 18.5.2021 im Umlauf 5  Die Anteilsklasse (USD hedged) K-1-mdist war bis zum 28.9.2022 im Umlauf |  |  |  |

UBS (Lux) Bond Fund – Euro High Yield (EUR) Jahresbericht und geprüfter Jahresabschluss per 31. März 2023
|  | ISIN | 31.3.2023 | 31.3.2022 | 31.3.2021 |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Klasse P-acc | LU0086177085 |  |  |  |
| Anteile im Umlauf |  | 691 314.2040 | 795 564.4730 | 942 986.0270 |
| Nettoinventarwert pro Anteil in EUR |  | 210.32 | 218.27 | 222.72 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | 210.32 | 218.27 | 222.72 |
| Klasse (CHF hedged) P-acc | LU0776290842 |  |  |  |
| Anteile im Umlauf |  | 60 693.0930 | 65 506.3990 | 65 129.2880 |
| Nettoinventarwert pro Anteil in CHF |  | 149.75 | 156.72 | 160.45 |
| Ausgabe- und Rücknahmepreis pro Anteil in CHF 1 |  | 149.75 | 156.72 | 160.45 |
| Klasse (USD hedged) P-acc | LU0994471687 |  |  |  |
| Anteile im Umlauf |  | 173 109.9180 | 311 545.3350 | 360 809.2340 |
| Nettoinventarwert pro Anteil in USD |  | 141.59 | 143.32 | 145.21 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 |  | 141.59 | 143.32 | 145.21 |
| Klasse P-dist | LU0085995990 |  |  |  |
| Anteile im Umlauf |  | 1 423 121.8620 | 1 529 595.0240 | 1 596 256.7560 |
| Nettoinventarwert pro Anteil in EUR |  | 43.85 | 47.19 | 49.45 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | 43.85 | 47.19 | 49.45 |
| Klasse P-mdist | LU0417441200 |  |  |  |
| Anteile im Umlauf |  | 674 816.5100 | 793 035.7560 | 942 819.8360 |
| Nettoinventarwert pro Anteil in EUR |  | 111.29 | 121.09 | 129.33 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | 111.29 | 121.09 | 129.33 |
| Klasse (AUD hedged) P-mdist | LU0945635778 |  |  |  |
| Anteile im Umlauf |  | 754 291.7210 | 878 422.7990 | 982 185.3240 |
| Nettoinventarwert pro Anteil in AUD |  | 77.74 | 84.32 | 90.11 |
| Ausgabe- und Rücknahmepreis pro Anteil in AUD 1 |  | 77.74 | 84.32 | 90.11 |
| Klasse (CAD hedged) P-mdist | LU0945635851 |  |  |  |
| Anteile im Umlauf |  | 282 610.8780 | 329 089.8320 | 333 416.8320 |
| Nettoinventarwert pro Anteil in CAD |  | 79.49 | 86.21 | 92.20 |
| Ausgabe- und Rücknahmepreis pro Anteil in CAD 1 |  | 79.49 | 86.21 | 92.20 |
| Klasse (GBP hedged) P-mdist | LU0997192736 |  |  |  |
| Anteile im Umlauf |  | 178 301.8740 | 182 252.0300 | 224 309.5920 |
| Nettoinventarwert pro Anteil in GBP |  | 76.52 | 83.12 | 88.79 |
| Ausgabe- und Rücknahmepreis pro Anteil in GBP 1 |  | 76.52 | 83.12 | 88.79 |
| Klasse (HKD hedged) P-mdist | LU0973218331 |  |  |  |
| Anteile im Umlauf |  | 112 809.1310 | 147 295.2470 | 171 129.9550 |
| Nettoinventarwert pro Anteil in HKD |  | 777.72 | 843.87 | 902.14 |
| Ausgabe- und Rücknahmepreis pro Anteil in HKD 1 |  | 777.72 | 843.87 | 902.14 |
| Klasse (JPY hedged) P-mdist | LU1545771492 |  |  |  |
| Anteile im Umlauf |  | 755 148.9960 | 506 903.2540 | 228 556.6570 |
| Nettoinventarwert pro Anteil in JPY |  | 8 073 | 8 824 | 9 421 |
| Ausgabe- und Rücknahmepreis pro Anteil in JPY 1 |  | 8 073 | 8 824 | 9 421 |
| Klasse (RMB hedged) P-mdist | LU0968750884 |  |  |  |
| Anteile im Umlauf |  | 91 630.6650 | 102 413.0980 | 106 400.4590 |
| Nettoinventarwert pro Anteil in CNH |  | 889.80 | 975.67 | 1 049.03 |
| Ausgabe- und Rücknahmepreis pro Anteil in CNH 1 |  | 889.80 | 975.67 | 1 049.03 |
| Klasse (SGD hedged) P-mdist | LU0989134753 |  |  |  |
| Anteile im Umlauf |  | 527 039.2370 | 633 483.7950 | 762 615.4100 |
| Nettoinventarwert pro Anteil in SGD |  | 79.51 | 86.28 | 92.28 |
| Ausgabe- und Rücknahmepreis pro Anteil in SGD 1 |  | 79.51 | 86.28 | 92.28 |
| Klasse (USD hedged) P-mdist | LU0937166394 |  |  |  |
| Anteile im Umlauf |  | 1 981 242.5690 | 2 485 152.6710 | 2 960 617.9170 |
| Nettoinventarwert pro Anteil in USD |  | 79.93 | 86.36 | 92.28 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 |  | 79.93 | 86.36 | 92.28 |
| Klasse (ZAR hedged) P-mdist 6 | LU2186299629 |  |  |  |
| Anteile im Umlauf |  | - | - | 16 246.6490 |
| Nettoinventarwert pro Anteil in ZAR |  | - | - | 1 041.50 |
| Ausgabe- und Rücknahmepreis pro Anteil in ZAR 1 |  | - | - | 1 041.50 |
| Klasse Q-6%-mdist | LU1240770286 |  |  |  |
| Anteile im Umlauf |  | 10 619.5250 | 13 121.1040 | 24 335.4220 |
| Nettoinventarwert pro Anteil in EUR |  | 78.80 | 86.31 | 92.96 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | 78.80 | 86.31 | 92.96 |
| Klasse (USD hedged) Q-6%-mdist | LU1317082110 |  |  |  |
| Anteile im Umlauf |  | 498.9520 | 1 148.9520 | 1 300.0000 |
| Nettoinventarwert pro Anteil in USD |  | 89.25 | 95.36 | 102.01 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 |  | 89.25 | 95.36 | 102.01 |
| Klasse Q-acc | LU0358408267 |  |  |  |
| Anteile im Umlauf |  | 672 124.2920 | 730 208.7580 | 546 327.1090 |
| Nettoinventarwert pro Anteil in EUR |  | 196.50 | 202.83 | 205.85 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | 196.50 | 202.83 | 205.85 |
| Klasse (CHF hedged) Q-acc | LU1240769437 |  |  |  |
| Anteile im Umlauf |  | 74 249.5350 | 84 806.6360 | 82 935.6170 |
| Nettoinventarwert pro Anteil in CHF |  | 116.10 | 120.85 | 123.07 |
| Ausgabe- und Rücknahmepreis pro Anteil in CHF 1 |  | 116.10 | 120.85 | 123.07 |
| Klasse (USD hedged) Q-acc | LU1240770013 |  |  |  |
| Anteile im Umlauf | 64 028.1150 | 88 206.6400 | 64 281.8390 |
| Nettoinventarwert pro Anteil in USD | 138.28 | 139.21 | 140.29 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 | 138.28 | 139.21 | 140.29 |
| 1  Siehe Erläuterung 1 6  Für die Periode vom 22.9.2020 bis zum 30.9.2021 war die Anteilsklasse (ZAR hedged) P-mdist im Umlauf |  |  |  |

UBS (Lux) Bond Fund – Euro High Yield (EUR)
Jahresbericht und geprüfter Jahresabschluss per 31. März 2023
|  | ISIN | 31.3.2023 | 31.3.2022 | 31.3.2021 |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Klasse Q-dist | LU0415181543 |  |  |  |
| Anteile im Umlauf |  | 92 416.9810 | 103 406.8210 | 89 832.5710 |
| Nettoinventarwert pro Anteil in EUR |  | 93.19 | 100.43 | 105.16 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | 93.19 | 100.43 | 105.16 |
| Klasse Q-mdist | LU1240770369 |  |  |  |
| Anteile im Umlauf |  | 41 453.2150 | 42 528.3080 | 44 128.9890 |
| Nettoinventarwert pro Anteil in EUR |  | 85.12 | 92.12 | 97.84 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | 85.12 | 92.12 | 97.84 |
| Klasse (GBP hedged) Q-mdist | LU1240769510 |  |  |  |
| Anteile im Umlauf |  | 1 585.3340 | 2 458.5910 | 2 253.4420 |
| Nettoinventarwert pro Anteil in GBP |  | 85.10 | 91.94 | 97.67 |
| Ausgabe- und Rücknahmepreis pro Anteil in GBP 1 |  | 85.10 | 91.94 | 97.67 |
| Klasse (USD hedged) Q-mdist | LU1240770104 |  |  |  |
| Anteile im Umlauf |  | 228 240.5250 | 266 867.9200 | 230 159.6960 |
| Nettoinventarwert pro Anteil in USD |  | 88.34 | 94.94 | 100.90 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 |  | 88.34 | 94.94 | 100.90 |
| Klasse (USD hedged) U-X-acc | LU2272237822 |  |  |  |
| Anteile im Umlauf |  | 2 142.0000 | 2 735.0000 | 3 049.0000 |
| Nettoinventarwert pro Anteil in USD |  | 10 033.06 | 10 019.62 | 10 015.63 |
| Ausgabe- und Rücknahmepreis pro Anteil in USD 1 |  | 10 033.06 | 10 019.62 | 10 015.63 |
| Klasse U-X-UKdist-mdist | LU1839734958 |  |  |  |
| Anteile im Umlauf |  | 1 387.0000 | 1 048.0000 | 981.0000 |
| Nettoinventarwert pro Anteil in EUR |  | 8 858.16 | 9 637.31 | 10 119.08 |
| Ausgabe- und Rücknahmepreis pro Anteil in EUR 1 |  | 8 858.16 | 9 637.31 | 10 119.08 |
| 1  Siehe Erläuterung 1 |  |  |  |  |

UBS (Lux) Bond Fund – Euro High Yield (EUR) Jahresbericht und geprüfter Jahresabschluss per 31. März 2023
| Performance |  |
| --- | --- |
|  | Währung | 2022/2023 | 2021/2022 | 2020/2021 |
| Klasse F-acc | EUR | -2.9% | -1.2% | 22.1% |
| Klasse (USD hedged) F-acc | USD | -0.4% | -0.5% | 23.7% |
| Klasse I-A1-acc | EUR | -3.0% | -1.3% | 22.8% |
| Klasse I-A2-acc 1 | EUR | - | -1.3% | 22.8% |
| Klasse (USD hedged) I-A2-acc 2 | USD | - | -0.5% | 24.5% |
| Klasse I-B-acc | EUR | -2.4% | -0.8% | 23.4% |
| Klasse (USD hedged) I-B-acc | USD | 0.1% | 0.0% | 25.1% |
| Klasse I-X-acc | EUR | -2.4% | -0.7% | 23.5% |
| Klasse (CHF hedged) I-X-acc | CHF | -3.1% | -1.0% | 23.3% |
| Klasse K-1-acc | EUR | -3.1% | -1.4% | 21.8% |
| Klasse (USD hedged) K-1-acc 3 | USD | - | - | 23.4% |
| Klasse (USD hedged) K-1-mdist 4 | USD | - | -0.7% | 23.5% |
| Klasse K-B-mdist | EUR | -2.5% | -0.8% | - |
| Klasse N-dist | EUR | -4.1% | -2.5% | 20.5% |
| Klasse P-6%-mdist | EUR | -3.6% | -2.0% | 21.1% |
| Klasse P-acc | EUR | -3.6% | -2.0% | 21.1% |
| Klasse (CHF hedged) P-acc | CHF | -4.4% | -2.3% | 20.9% |
| Klasse (USD hedged) P-acc | USD | -1.2% | -1.3% | 22.7% |
| Klasse P-dist | EUR | -3.6% | -2.0% | 21.1% |
| Klasse P-mdist | EUR | -3.6% | -2.0% | 21.1% |
| Klasse (AUD hedged) P-mdist | AUD | -2.2% | -1.5% | 21.5% |
| Klasse (CAD hedged) P-mdist | CAD | -1.4% | -1.4% | 21.8% |
| Klasse (GBP hedged) P-mdist | GBP | -2.0% | -1.4% | 21.7% |
| Klasse (HKD hedged) P-mdist | HKD | -2.2% | -1.4% | 22.5% |
| Klasse (JPY hedged) P-mdist | JPY | -4.2% | -1.6% | 21.8% |
| Klasse (RMB hedged) P-mdist | CNH | -1.9% | 1.3% | 24.7% |
| Klasse (SGD hedged) P-mdist | SGD | -1.6% | -1.2% | 22.1% |
| Klasse (USD hedged) P-mdist | USD | -1.2% | -1.3% | 22.7% |
| Klasse (ZAR hedged) P-mdist 5 | ZAR | - | - | - |
| Klasse Q-6%-mdist | EUR | -3.1% | -1.5% | 21.8% |
| Klasse (USD hedged) Q-6%-mdist | USD | -0.7% | -0.8% | 23.4% |
| Klasse Q-acc | EUR | -3.1% | -1.5% | 21.8% |
| Klasse (CHF hedged) Q-acc | CHF | -3.9% | -1.8% | 21.5% |
| Klasse (USD hedged) Q-acc | USD | -0.7% | -0.8% | 23.4% |
| Klasse Q-dist | EUR | -3.1% | -1.5% | 21.8% |
| Klasse Q-mdist | EUR | -3.1% | -1.5% | 21.8% |
| Klasse (GBP hedged) Q-mdist | GBP | -1.5% | -0.9% | 22.3% |
| Klasse (USD hedged) Q-mdist | USD | -0.7% | -0.8% | 23.4% |
| Klasse (USD hedged) U-X-acc | USD | 0.1% | 0.0% | - |
| Klasse U-X-UKdist-mdist | EUR | -2.4% | -0.7% | 23.5% |
| Benchmark: 6 ICE BofAML EUR High Yield 3% Constrained Index | EUR | -4.5% | -3.1% | 22.3% |
| ICE BofAML EUR High Yield 3% Constrained Index (hedged USD) | USD | -1.8% | -2.2% | 23.7% |
| ICE BofAML EUR High Yield 3% Constrained Index (hedged CHF) | CHF | -5.2% | -3.3% | 22.0% |
| ICE BofAML EUR High Yield 3% Constrained Index (hedged AUD) | AUD | -3.7% | -2.4% | 22.5% |
| ICE BofAML EUR High Yield 3% Constrained Index (hedged CAD) | CAD | -2.4% | -2.3% | 23.1% |
| ICE BofAML EUR High Yield 3% Constrained Index (hedged GBP) | GBP | -3.3% | -2.4% | 22.9% |
| ICE BofAML EUR High Yield 3% Constrained Index (hedged HKD) | HKD | -2.7% | -2.3% | 23.9% |
| ICE BofAML EUR High Yield 3% Constrained Index (hedged JPY) | JPY | -5.9% | -2.6% | 22.9% |
| ICE BofAML EUR High Yield 3% Constrained Index (hedged RMB) | CNH | -2.8% | 0.5% | 26.3% |
| ICE BofAML EUR High Yield 3% Constrained Index (hedged SGD) | SGD | -2.5% | -2.1% | 23.4% |
| ICE BofAML EUR High Yield 3% Constrained Index (hedged ZAR) Die historische Performance stellt keinen Indikator für die laufende oder zukünftige Performance dar. | ZAR | - | - | 22.3% |

Die Performancedaten lassen die bei der Ausgabe und Rücknahme der Anteile erhobenen Kommissionen und Kosten unberücksichtigt. Die Performancedaten sind ungeprüft.
1 
Die Anteilsklasse I-A2-acc war bis zum 21.12.2022 im Umlauf. Auf Grund dessen liegen keine Daten für die Berechnung der Performance vor.
2 
Die Anteilsklasse (USD hedged) I-A2-acc war bis zum 30.6.2022 im Umlauf. Auf Grund dessen liegen keine Daten für die Berechnung der Performance vor.
3 
Die Anteilsklasse (USD hedged) K-1-acc war bis zum 18.5.2021 im Umlauf. Auf Grund dessen liegen keine Daten für die Berechnung der Performance vor.
4 
Die Anteilsklasse (USD hedged) K-1-mdist war bis zum 28.9.2022 im Umlauf. Auf Grund dessen liegen keine Daten für die Berechnung der Performance vor.
5 
Für die Periode vom 22.9.2020 bis zum 30.9.2021 war die Anteilsklasse (ZAR hedged) P-mdist im Umlauf. Auf Grund dessen liegen keine Daten für die Berechnung der Performance vor.
6 
Der Subfonds wird aktiv verwaltet. Der Index ist ein Bezugspunkt, an dem die Wertentwicklung des Subfonds gemessen werden kann.
UBS (Lux) Bond Fund – Euro High Yield (EUR)
Jahresbericht und geprüfter Jahresabschluss per 31. März 2023

### Bericht des Portfolio Managers
Im Rechnungsjahr vom 1. April 2022 bis zum 31. März 2023 generierte der Markt für Euro-Hochzinsanleihen eine negative absolute Gesamtperformance, da sich die Kreditrisikoprämien ausweiteten und die Renditen stiegen. Im Berichtszeitraum gingen die Renditen der Staatsanleihen von Industrienationen aufgrund der res- triktiven Geldpolitik der Zentralbanken steil in die Höhe. In den USA, Grossbritannien und der Eurozone stiegen die Gesamt-Konsumentenpreisindizes auf die höchsten Werte seit Jahrzehnten. Zunächst wurden die Preise durch die Freisetzung der aufgestauten Nachfrage und die fiskalpolitischen Stimulationsmassnahmen in die Höhe getrieben. Doch später wurde die Teuerung durch die hohen Rohstoffpreise infolge der andauernden russi- schen Invasion in der Ukraine verstärkt.
Der Subfonds erzielte im Rechnungsjahr eine negative Wertentwicklung. Zu den positiven Faktoren für die Performance gehörten unter anderem die Aktienaus- wahl im Gesundheitswesen und die Vorsicht bei Wohn- bauunternehmen und Immobilien. Der bedeutendste Negativfaktor war die Titelauswahl im Finanzwesen. Im gesamten Berichtszeitraum hielten wir an unserer Prä- ferenz für Anleihen der Ratinggruppen B sowie CCC und darunter fest. Aus Sektorsicht beendeten wir den Berichtszeitraum mit Übergewichtungen im Gesund- heitswesen und im Bereich Freizeit und Erholung sowie mit einer kurzen Duration.

### Struktur des Wertpapierbestandes
Geographische Aufteilung in % des Nettovermögens	
Frankreich	15.37
| Luxemburg | 13.51 |
| --- | --- |
| Grossbritannien | 12.44 |
| Niederlande | 11.39 |
| Deutschland | 9.52 |
| Italien | 8.42 |
| Spanien | 5.84 |
| Vereinigte Staaten | 4.14 |
| Schweden | 3.02 |
| Portugal | 1.97 |
| Irland | 1.77 |
| Griechenland | 1.63 |
| Japan | 1.24 |
| Panama | 0.96 |
| Belgien | 0.72 |
| Finnland | 0.61 |
| Tschechische Republik | 0.58 |
| Israel | 0.52 |
| Gibraltar | 0.49 |
| Norwegen | 0.49 |
| Schweiz | 0.45 |
| Total | 95.08 |

Wirtschaftliche Aufteilung in % des Nettovermögens	
Finanz- & Beteiligungsgesellschaften	38.56
| Banken & Kreditinstitute | 12.52 |
| --- | --- |
| Telekommunikation | 8.83 |
| Fahrzeuge | 4.89 |
| Energie- & Wasserversorgung | 3.36 |
| Immobilien | 3.26 |
| Diverse Dienstleistungen | 3.10 |
| Gesundheits- & Sozialwesen | 2.79 |
| Chemie | 2.22 |
| Internet, Software & IT-Dienste | 2.10 |
| Gastgewerbe & Freizeit | 2.03 |
| Verkehr & Transport | 1.41 |
| Diverse Handelsfirmen | 1.12 |
| Verpackungsindustrie | 1.08 |
| Pharmazeutik, Kosmetik & medizinische Produkte | 1.04 |
| Flugzeug- & Raumfahrtindustrie | 1.02 |
| Textilien, Kleidung & Lederwaren | 0.84 |
| Biotechnologie | 0.79 |
| Erdöl | 0.60 |
| Photo & Optik | 0.55 |
| Grafisches Gewerbe, Verlage & Medien | 0.53 |
| Anlagefonds | 0.52 |
| Diverse nicht klassierte Gesellschaften | 0.45 |
| Diverse Konsumgüter | 0.31 |
| Maschinen & Apparate | 0.30 |
| Landwirtschaft & Fischerei | 0.29 |
| Nahrungsmittel & Softdrinks | 0.29 |
| Versicherungen | 0.28 |
| Total | 95.08 |

UBS (Lux) Bond Fund – Euro High Yield (EUR) Jahresbericht und geprüfter Jahresabschluss per 31. März 2023

### Nettovermögensaufstellung
Aktiva	31.3.2023
EUR
Wertpapierbestand, Einstandswert	1 171 042 081.89
Wertpapierbestand, nicht realisierte Werterhöhung (-minderung)	79 340 933.91
Total Wertpapierbestand (Erläuterung 1)	1 091 701 147.98
Bankguthaben, Sicht- und Fristgelder	44 158 319.54*
Andere liquide Mittel (Margins)	3 432 687.22
Forderungen aus Wertpapierverkäufen (Erläuterung 1)	4 288 361.75
Forderungen aus Zeichnungen	1 247 640.21
Zinsforderungen aus Wertpapieren	18 741 635.25
Total Aktiva	1 163 900 018.42
Passiva
Vorausbezahlte Kosten	330 226.47
Nicht realisierter Kursverlust aus Devisenterminkontrakten (Erläuterung 1)	-5 230 557.94
Nicht realisierter Kursverlust aus Swaps (Erläuterung 1)	-629 940.16
Kontokorrentkredit	-2 694 473.02
Verbindlichkeiten aus Wertpapierkäufen (Erläuterung 1)	-4 766 634.17
Verbindlichkeiten aus Rücknahmen	-1 025 589.70
Rückstellungen für pauschale Verwaltungskommission (Erläuterung 2)	-893 724.55
Rückstellungen für Abonnementsabgabe (Erläuterung 3)	-111 638.03
Rückstellungen für sonstige Kommissionen und Gebühren (Erläuterung 2)		-347 075.05		 Total Rückstellungen für Aufwendungen			-1 352 437.63
Total Passiva	-15 699 632.62
Nettovermögen am Ende des Geschäftsjahres	1 148 200 385.80

### Ertrags- und Aufwandsrechnung
Erträge	1.4.2022-31.3.2023
EUR
Zinsertrag auf liquide Mittel	469 011.46
Zinsen auf Wertpapiere	63 708 086.11
Dividenden	381 350.30
Zinsertrag auf Swaps (Erläuterung 1)	1 877 336.05
Nettoerträge aus Securities Lending (Erläuterung 14)	1 130 213.74
Total Erträge	68 238 430.87
Aufwendungen
Sonstige Erträge	672 433.21
Zinsaufwand auf Swaps (Erläuterung 1)	-817 087.83
Pauschale Verwaltungskommission (Erläuterung 2)	-11 778 130.05
Abonnementsabgabe (Erläuterung 3)	-458 879.24
Sonstige Kommissionen und Gebühren (Erläuterung 2)	-100 797.97
Total Aufwendungen	-13 209 172.98
Nettoerträge (-verluste) aus Anlagen	55 029 257.89
Realisierte Gewinne (Verluste) (Erläuterung 1)
Zinsaufwand auf liquide Mittel und Kontokorrentkredit	-54 277.89
Realisierter Kursgewinn (-verlust) aus marktbewerteten Wertpapieren ausser Optionen	-65 657 801.78 Realisierter Kursgewinn (-verlust) aus Optionen		540 875.00
Realisierter Kursgewinn (-verlust) aus Devisenterminkontrakten	40 725 446.56
Realisierter Kursgewinn (-verlust) aus Swaps	1 417 177.05
Total der realisierten Gewinne (Verluste)	-42 267 819.57
Realisierter Nettogewinn (-verlust) des Geschäftsjahres	12 761 438.32
Veränderungen der nicht realisierten Werterhöhung (-minderung) (Erläuterung 1)
Realisierter Währungsgewinn (-verlust)	-19 293 516.40
Nicht realisierte Werterhöhung (-minderung) marktbewerteter Wertpapiere ausser Optionen	-40 478 422.72
Nicht realisierte Werterhöhung (-minderung) von Devisenterminkontrakten	-2 756 629.24
Total der Veränderungen der nicht realisierten Werterhöhung (-minderung)	-45 042 936.27
Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit	-32 281 497.95
Nicht realisierte Werterhöhung (-minderung) von Swaps	-1 807 884.31
* Zum 31. März 2023 wurden gegenüber JP Morgan Bankguthaben in Höhe von EUR 1 100 000.00 als Sicherheit eingesetzt.
UBS (Lux) Bond Fund – Euro High Yield (EUR)
Jahresbericht und geprüfter Jahresabschluss per 31. März 2023
| Veränderung des Nettovermögens |  |
| --- | --- |
|  | EUR |
|  | 1.4.2022-31.3.2023 |
| Nettovermögen zu Beginn des Geschäftsjahres | 1 431 122 028.59 |
| Zeichnungen | 169 351 721.75 |
| Rücknahmen | 	-387 922 901.49	 |
| Total Mittelzufluss (-abfluss) | -218 571 179.74 |
| Ausbezahlte Dividende | -32 068 965.10 |
| Nettoerträge (-verluste) aus Anlagen | 55 029 257.89 |
| Total der realisierten Gewinne (Verluste) | -42 267 819.57 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | 	-45 042 936.27	 |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | -32 281 497.95 |
| Nettovermögen am Ende des Geschäftsjahres | 1 148 200 385.80 |
| Entwicklung der Anteile im Umlauf |  |
|  | 1.4.2022-31.3.2023 |
| Klasse | F-acc |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 9 989.0000 |
| Anzahl der ausgegebenen Anteile | 0.0000 |
| Anzahl der zurückgegebenen Anteile | 0.0000 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 9 989.0000 |
| Klasse | (USD hedged) F-acc |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 669 602.5400 |
| Anzahl der ausgegebenen Anteile | 19 410.0000 |
| Anzahl der zurückgegebenen Anteile | -277 615.0000 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 411 397.5400 |
| Klasse | I-A1-acc |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 1 295 957.1530 |
| Anzahl der ausgegebenen Anteile | 349 960.5400 |
| Anzahl der zurückgegebenen Anteile | -640 653.0670 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 1 005 264.6260 |
| Klasse | I-A2-acc |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 4 995.0000 |
| Anzahl der ausgegebenen Anteile | 0.0000 |
| Anzahl der zurückgegebenen Anteile | -4 995.0000 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 0.0000 |
| Klasse | (USD hedged) I-A2-acc |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 14 609.1050 |
| Anzahl der ausgegebenen Anteile | 0.0000 |
| Anzahl der zurückgegebenen Anteile | -14 609.1050 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 0.0000 |
| Klasse | I-B-acc |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 9 995.1760 |
| Anzahl der ausgegebenen Anteile | 32 034.0720 |
| Anzahl der zurückgegebenen Anteile | -14 953.5220 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 27 075.7260 |
| Klasse | (USD hedged) I-B-acc |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 168 101.0000 |
| Anzahl der ausgegebenen Anteile | 45 906.0000 |
| Anzahl der zurückgegebenen Anteile | -62 028.0000 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 151 979.0000 |
| Klasse | I-X-acc |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 357 633.0070 |
| Anzahl der ausgegebenen Anteile | 5 290.0830 |
| Anzahl der zurückgegebenen Anteile | -66 028.4710 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 296 894.6190 |
| Klasse | (CHF hedged) I-X-acc |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 95 211.6330 |
| Anzahl der ausgegebenen Anteile | 35 955.7880 |
| Anzahl der zurückgegebenen Anteile | -24 244.2500 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 106 923.1710 |
| Klasse | K-1-acc |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 1.1000 |
| Anzahl der ausgegebenen Anteile | 0.0000 |
| Anzahl der zurückgegebenen Anteile | 0.0000 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 1.1000 |
| Klasse | (USD hedged) K-1-mdist |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 2.9000 |
| Anzahl der ausgegebenen Anteile | 0.0000 |
| Anzahl der zurückgegebenen Anteile | -2.9000 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 0.0000 |
| Klasse | K-B-mdist |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 113 650.0370 |
| Anzahl der ausgegebenen Anteile | 5 888.0200 |
| Anzahl der zurückgegebenen Anteile | 0.0000 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 119 538.0570 |

UBS (Lux) Bond Fund – Euro High Yield (EUR) Jahresbericht und geprüfter Jahresabschluss per 31. März 2023
| Klasse | N-dist |
| --- | --- |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 39 701.0930 |
| Anzahl der ausgegebenen Anteile | 1 940.4390 |
| Anzahl der zurückgegebenen Anteile | -5 679.1720 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 35 962.3600 |
| Klasse | P-6%-mdist |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 309 273.7910 |
| Anzahl der ausgegebenen Anteile | 15 703.7380 |
| Anzahl der zurückgegebenen Anteile | -32 466.2110 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 292 511.3180 |
| Klasse | P-acc |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 795 564.4730 |
| Anzahl der ausgegebenen Anteile | 72 172.7670 |
| Anzahl der zurückgegebenen Anteile | -176 423.0360 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 691 314.2040 |
| Klasse | (CHF hedged) P-acc |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 65 506.3990 |
| Anzahl der ausgegebenen Anteile | 1 034.9390 |
| Anzahl der zurückgegebenen Anteile | -5 848.2450 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 60 693.0930 |
| Klasse | (USD hedged) P-acc |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 311 545.3350 |
| Anzahl der ausgegebenen Anteile | 123 086.3640 |
| Anzahl der zurückgegebenen Anteile | -261 521.7810 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 173 109.9180 |
| Klasse | P-dist |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 1 529 595.0240 |
| Anzahl der ausgegebenen Anteile | 58 226.0410 |
| Anzahl der zurückgegebenen Anteile | -164 699.2030 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 1 423 121.8620 |
| Klasse | P-mdist |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 793 035.7560 |
| Anzahl der ausgegebenen Anteile | 36 495.5910 |
| Anzahl der zurückgegebenen Anteile | -154 714.8370 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 674 816.5100 |
| Klasse | (AUD hedged) P-mdist |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 878 422.7990 |
| Anzahl der ausgegebenen Anteile | 7 057.4540 |
| Anzahl der zurückgegebenen Anteile | -131 188.5320 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 754 291.7210 |
| Klasse | (CAD hedged) P-mdist |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 329 089.8320 |
| Anzahl der ausgegebenen Anteile | 0.0000 |
| Anzahl der zurückgegebenen Anteile | -46 478.9540 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 282 610.8780 |
| Klasse | (GBP hedged) P-mdist |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 182 252.0300 |
| Anzahl der ausgegebenen Anteile | 16 283.3000 |
| Anzahl der zurückgegebenen Anteile | -20 233.4560 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 178 301.8740 |
| Klasse | (HKD hedged) P-mdist |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 147 295.2470 |
| Anzahl der ausgegebenen Anteile | 3 790.7690 |
| Anzahl der zurückgegebenen Anteile | -38 276.8850 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 112 809.1310 |
| Klasse | (JPY hedged) P-mdist |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 506 903.2540 |
| Anzahl der ausgegebenen Anteile | 333 307.3610 |
| Anzahl der zurückgegebenen Anteile | -85 061.6190 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 755 148.9960 |
| Klasse | (RMB hedged) P-mdist |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 102 413.0980 |
| Anzahl der ausgegebenen Anteile | 0.0000 |
| Anzahl der zurückgegebenen Anteile | -10 782.4330 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 91 630.6650 |
| Klasse | (SGD hedged) P-mdist |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 633 483.7950 |
| Anzahl der ausgegebenen Anteile | 3 214.6340 |
| Anzahl der zurückgegebenen Anteile | -109 659.1920 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 527 039.2370 |
| Klasse | (USD hedged) P-mdist |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 2 485 152.6710 |
| Anzahl der ausgegebenen Anteile | 91 651.8540 |
| Anzahl der zurückgegebenen Anteile | -595 561.9560 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 1 981 242.5690 |
| Klasse | Q-6%-mdist |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres | 13 121.1040 |
| Anzahl der ausgegebenen Anteile | 526.8110 |
| Anzahl der zurückgegebenen Anteile | -3 028.3900 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres | 10 619.5250 |

UBS (Lux) Bond Fund – Euro High Yield (EUR)
Jahresbericht und geprüfter Jahresabschluss per 31. März 2023
| Klasse |  |  | (USD hedged) Q-6%-mdist |
| --- | --- | --- | --- |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres |  |  | 1 148.9520 |
| Anzahl der ausgegebenen Anteile |  |  | 0.0000 |
| Anzahl der zurückgegebenen Anteile |  |  | -650.0000 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres |  |  | 498.9520 |
| Klasse |  |  | Q-acc |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres |  |  | 730 208.7580 |
| Anzahl der ausgegebenen Anteile |  |  | 106 120.6800 |
| Anzahl der zurückgegebenen Anteile |  |  | -164 205.1460 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres |  |  | 672 124.2920 |
| Klasse |  |  | (CHF hedged) Q-acc |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres |  |  | 84 806.6360 |
| Anzahl der ausgegebenen Anteile |  |  | 1 042.3890 |
| Anzahl der zurückgegebenen Anteile |  |  | -11 599.4900 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres |  |  | 74 249.5350 |
| Klasse |  |  | (USD hedged) Q-acc |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres |  |  | 88 206.6400 |
| Anzahl der ausgegebenen Anteile |  |  | 3 299.1280 |
| Anzahl der zurückgegebenen Anteile |  |  | -27 477.6530 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres |  |  | 64 028.1150 |
| Klasse |  |  | Q-dist |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres |  |  | 103 406.8210 |
| Anzahl der ausgegebenen Anteile |  |  | 9 266.7650 |
| Anzahl der zurückgegebenen Anteile |  |  | -20 256.6050 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres |  |  | 92 416.9810 |
| Klasse |  |  | Q-mdist |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres |  |  | 42 528.3080 |
| Anzahl der ausgegebenen Anteile |  |  | 3 497.9540 |
| Anzahl der zurückgegebenen Anteile |  |  | -4 573.0470 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres |  |  | 41 453.2150 |
| Klasse |  |  | (GBP hedged) Q-mdist |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres |  |  | 2 458.5910 |
| Anzahl der ausgegebenen Anteile |  |  | 451.7430 |
| Anzahl der zurückgegebenen Anteile |  |  | -1 325.0000 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres |  |  | 1 585.3340 |
| Klasse |  |  | (USD hedged) Q-mdist |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres |  |  | 266 867.9200 |
| Anzahl der ausgegebenen Anteile |  |  | 17 249.6440 |
| Anzahl der zurückgegebenen Anteile |  |  | -55 877.0390 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres |  |  | 228 240.5250 |
| Klasse |  |  | (USD hedged) U-X-acc |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres |  |  | 2 735.0000 |
| Anzahl der ausgegebenen Anteile |  |  | 377.0000 |
| Anzahl der zurückgegebenen Anteile |  |  | -970.0000 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres |  |  | 2 142.0000 |
| Klasse |  |  | U-X-UKdist-mdist |
| Anzahl der Anteile im Umlauf zu Beginn des Geschäftsjahres |  |  | 1 048.0000 |
| Anzahl der ausgegebenen Anteile |  |  | 373.0000 |
| Anzahl der zurückgegebenen Anteile |  |  | -34.0000 |
| Anzahl der Anteile im Umlauf am Ende des Geschäftsjahres |  |  | 1 387.0000 |
| Jährliche Ausschüttung 1 |  |  |  |
| UBS (Lux) Bond Fund – Euro High Yield (EUR)	Ex-Date | Pay-Date | Währung | Betrag pro Anteil |
| N-dist	1.6.2022 | 7.6.2022 | EUR | 3.27 |
| P-dist	1.6.2022 | 7.6.2022 | EUR | 1.62 |
| Q-dist	1.6.2022 | 7.6.2022 | EUR | 4.08 |
| Monatliche Ausschüttung 1 |  |  |  |
| UBS (Lux) Bond Fund – Euro High Yield (EUR)	Ex-Date | Pay-Date | Währung | Betrag pro Anteil |
| (USD hedged) K-1-mdist	19.4.2022 | 22.4.2022 | USD | 20 892.82 |
| (USD hedged) K-1-mdist	16.5.2022 | 19.5.2022 | USD | 22 658.27 |
| (USD hedged) K-1-mdist	15.6.2022 | 21.6.2022 | USD | 22 291.95 |
| (USD hedged) K-1-mdist	15.7.2022 | 20.7.2022 | USD | 20 712.02 |
| (USD hedged) K-1-mdist	16.8.2022 | 19.8.2022 | USD | 21 539.43 |
| (USD hedged) K-1-mdist	15.9.2022 | 20.9.2022 | USD | 21 353.55 |
| K-B-mdist	19.4.2022 | 22.4.2022 | EUR | 0.37 |
| K-B-mdist	16.5.2022 | 19.5.2022 | EUR | 0.36 |
| K-B-mdist	15.6.2022 | 21.6.2022 | EUR | 0.36 |
| K-B-mdist	15.7.2022 | 20.7.2022 | EUR | 0.33 |
| K-B-mdist	16.8.2022 | 19.8.2022 | EUR | 0.35 |
| K-B-mdist	15.9.2022 | 20.9.2022 | EUR | 0.34 |
| K-B-mdist	17.10.2022 | 20.10.2022 | EUR | 0.33 |
| K-B-mdist	15.11.2022 | 18.11.2022 | EUR | 0.37 |
| K-B-mdist	15.12.2022 | 20.12.2022 | EUR | 0.38 |
| 1  Siehe Erläuterung 4 |  |  |  |

UBS (Lux) Bond Fund – Euro High Yield (EUR) Jahresbericht und geprüfter Jahresabschluss per 31. März 2023
| UBS (Lux) Bond Fund – Euro High Yield (EUR) | Ex-Date | Pay-Date | Währung | Betrag pro Anteil |
| --- | --- | --- | --- | --- |
| K-B-mdist | 17.1.2023 | 20.1.2023 | EUR | 0.38 |
| K-B-mdist | 15.2.2023 | 21.2.2023 | EUR | 0.39 |
| K-B-mdist | 15.3.2023 | 20.3.2023 | EUR | 0.39 |
| P-6%-mdist | 11.4.2022 | 14.4.2022 | EUR | 0.38 |
| P-6%-mdist | 10.5.2022 | 13.5.2022 | EUR | 0.37 |
| P-6%-mdist | 10.6.2022 | 15.6.2022 | EUR | 0.36 |
| P-6%-mdist | 11.7.2022 | 14.7.2022 | EUR | 0.33 |
| P-6%-mdist | 10.8.2022 | 15.8.2022 | EUR | 0.34 |
| P-6%-mdist | 13.9.2022 | 16.9.2022 | EUR | 0.34 |
| P-6%-mdist | 11.10.2022 | 14.10.2022 | EUR | 0.33 |
| P-6%-mdist | 10.11.2022 | 15.11.2022 | EUR | 0.33 |
| P-6%-mdist | 12.12.2022 | 15.12.2022 | EUR | 0.34 |
| P-6%-mdist | 10.1.2023 | 13.1.2023 | EUR | 0.34 |
| P-6%-mdist | 10.2.2023 | 15.2.2023 | EUR | 0.35 |
| P-6%-mdist | 10.3.2023 | 15.3.2023 | EUR | 0.35 |
| P-mdist | 19.4.2022 | 22.4.2022 | EUR | 0.46 |
| P-mdist | 16.5.2022 | 19.5.2022 | EUR | 0.44 |
| P-mdist | 15.6.2022 | 21.6.2022 | EUR | 0.44 |
| P-mdist | 15.7.2022 | 20.7.2022 | EUR | 0.40 |
| P-mdist | 16.8.2022 | 19.8.2022 | EUR | 0.42 |
| P-mdist | 15.9.2022 | 20.9.2022 | EUR | 0.42 |
| P-mdist | 17.10.2022 | 20.10.2022 | EUR | 0.40 |
| P-mdist | 15.11.2022 | 18.11.2022 | EUR | 0.45 |
| P-mdist | 15.12.2022 | 20.12.2022 | EUR | 0.46 |
| P-mdist | 17.1.2023 | 20.1.2023 | EUR | 0.46 |
| P-mdist | 15.2.2023 | 21.2.2023 | EUR | 0.47 |
| P-mdist | 15.3.2023 | 20.3.2023 | EUR | 0.47 |
| (AUD hedged) P-mdist | 19.4.2022 | 22.4.2022 | AUD | 0.35 |
| (AUD hedged) P-mdist | 16.5.2022 | 19.5.2022 | AUD | 0.36 |
| (AUD hedged) P-mdist | 15.6.2022 | 21.6.2022 | AUD | 0.35 |
| (AUD hedged) P-mdist | 15.7.2022 | 20.7.2022 | AUD | 0.33 |
| (AUD hedged) P-mdist | 16.8.2022 | 19.8.2022 | AUD | 0.34 |
| (AUD hedged) P-mdist | 15.9.2022 | 20.9.2022 | AUD | 0.34 |
| (AUD hedged) P-mdist | 17.10.2022 | 20.10.2022 | AUD | 0.32 |
| (AUD hedged) P-mdist | 15.11.2022 | 18.11.2022 | AUD | 0.43 |
| (AUD hedged) P-mdist | 15.12.2022 | 20.12.2022 | AUD | 0.45 |
| (AUD hedged) P-mdist | 17.1.2023 | 20.1.2023 | AUD | 0.44 |
| (AUD hedged) P-mdist | 15.2.2023 | 21.2.2023 | AUD | 0.46 |
| (AUD hedged) P-mdist | 15.3.2023 | 20.3.2023 | AUD | 0.45 |
| (CAD hedged) P-mdist | 19.4.2022 | 22.4.2022 | CAD | 0.38 |
| (CAD hedged) P-mdist | 16.5.2022 | 19.5.2022 | CAD | 0.42 |
| (CAD hedged) P-mdist | 15.6.2022 | 21.6.2022 | CAD | 0.41 |
| (CAD hedged) P-mdist | 15.7.2022 | 20.7.2022 | CAD | 0.39 |
| (CAD hedged) P-mdist | 16.8.2022 | 19.8.2022 | CAD | 0.40 |
| (CAD hedged) P-mdist | 15.9.2022 | 20.9.2022 | CAD | 0.40 |
| (CAD hedged) P-mdist | 17.10.2022 | 20.10.2022 | CAD | 0.38 |
| (CAD hedged) P-mdist | 15.11.2022 | 18.11.2022 | CAD | 0.50 |
| (CAD hedged) P-mdist | 15.12.2022 | 20.12.2022 | CAD | 0.51 |
| (CAD hedged) P-mdist | 17.1.2023 | 20.1.2023 | CAD | 0.51 |
| (CAD hedged) P-mdist | 15.2.2023 | 21.2.2023 | CAD | 0.52 |
| (CAD hedged) P-mdist | 15.3.2023 | 20.3.2023 | CAD | 0.52 |
| (GBP hedged) P-mdist | 19.4.2022 | 22.4.2022 | GBP | 0.36 |
| (GBP hedged) P-mdist | 16.5.2022 | 19.5.2022 | GBP | 0.40 |
| (GBP hedged) P-mdist | 15.6.2022 | 21.6.2022 | GBP | 0.39 |
| (GBP hedged) P-mdist | 15.7.2022 | 20.7.2022 | GBP | 0.37 |
| (GBP hedged) P-mdist | 16.8.2022 | 19.8.2022 | GBP | 0.38 |
| (GBP hedged) P-mdist | 15.9.2022 | 20.9.2022 | GBP | 0.38 |
| (GBP hedged) P-mdist | 17.10.2022 | 20.10.2022 | GBP | 0.36 |
| (GBP hedged) P-mdist | 15.11.2022 | 18.11.2022 | GBP | 0.42 |
| (GBP hedged) P-mdist | 15.12.2022 | 20.12.2022 | GBP | 0.43 |
| (GBP hedged) P-mdist | 17.1.2023 | 20.1.2023 | GBP | 0.42 |
| (GBP hedged) P-mdist | 15.2.2023 | 21.2.2023 | GBP | 0.44 |
| (GBP hedged) P-mdist | 15.3.2023 | 20.3.2023 | GBP | 0.44 |
| (HKD hedged) P-mdist | 19.4.2022 | 22.4.2022 | HKD | 3.63 |
| (HKD hedged) P-mdist | 16.5.2022 | 19.5.2022 | HKD | 3.71 |
| (HKD hedged) P-mdist | 15.6.2022 | 21.6.2022 | HKD | 3.64 |
| (HKD hedged) P-mdist | 15.7.2022 | 20.7.2022 | HKD | 3.38 |
| (HKD hedged) P-mdist | 16.8.2022 | 19.8.2022 | HKD | 3.51 |
| (HKD hedged) P-mdist | 15.9.2022 | 20.9.2022 | HKD | 3.48 |
| (HKD hedged) P-mdist | 17.10.2022 | 20.10.2022 | HKD | 3.34 |
| (HKD hedged) P-mdist | 15.11.2022 | 18.11.2022 | HKD | 4.25 |
| (HKD hedged) P-mdist | 15.12.2022 | 20.12.2022 | HKD | 4.40 |
| (HKD hedged) P-mdist | 17.1.2023 | 20.1.2023 | HKD | 4.36 |
| (HKD hedged) P-mdist | 15.2.2023 | 21.2.2023 | HKD | 4.50 |
| (HKD hedged) P-mdist | 15.3.2023 | 20.3.2023 | HKD | 4.48 |
| (JPY hedged) P-mdist | 19.4.2022 | 22.4.2022 | JPY | 36.00 |
| (JPY hedged) P-mdist | 16.5.2022 | 19.5.2022 | JPY | 35.00 |
| (JPY hedged) P-mdist | 15.6.2022 | 21.6.2022 | JPY | 34.00 |
| (JPY hedged) P-mdist | 15.7.2022 | 20.7.2022 | JPY | 32.00 |

UBS (Lux) Bond Fund – Euro High Yield (EUR)
Jahresbericht und geprüfter Jahresabschluss per 31. März 2023
| UBS (Lux) Bond Fund – Euro High Yield (EUR) | Ex-Date | Pay-Date | Währung | Betrag pro Anteil |
| --- | --- | --- | --- | --- |
| (JPY hedged) P-mdist | 16.8.2022 | 19.8.2022 | JPY | 33.00 |
| (JPY hedged) P-mdist | 15.9.2022 | 20.9.2022 | JPY | 33.00 |
| (JPY hedged) P-mdist | 17.10.2022 | 20.10.2022 | JPY | 32.00 |
| (JPY hedged) P-mdist | 15.11.2022 | 18.11.2022 | JPY | 27.00 |
| (JPY hedged) P-mdist | 15.12.2022 | 20.12.2022 | JPY | 27.00 |
| (JPY hedged) P-mdist | 17.1.2023 | 20.1.2023 | JPY | 27.00 |
| (JPY hedged) P-mdist | 15.2.2023 | 21.2.2023 | JPY | 28.00 |
| (JPY hedged) P-mdist | 15.3.2023 | 20.3.2023 | JPY | 28.00 |
| (RMB hedged) P-mdist | 19.4.2022 | 22.4.2022 | CNH | 7.14 |
| (RMB hedged) P-mdist | 16.5.2022 | 19.5.2022 | CNH | 6.20 |
| (RMB hedged) P-mdist | 15.6.2022 | 21.6.2022 | CNH | 6.10 |
| (RMB hedged) P-mdist | 15.7.2022 | 20.7.2022 | CNH | 5.66 |
| (RMB hedged) P-mdist | 16.8.2022 | 19.8.2022 | CNH | 5.88 |
| (RMB hedged) P-mdist | 15.9.2022 | 20.9.2022 | CNH | 5.81 |
| (RMB hedged) P-mdist | 17.10.2022 | 20.10.2022 | CNH | 5.57 |
| (RMB hedged) P-mdist | 15.11.2022 | 18.11.2022 | CNH | 4.58 |
| (RMB hedged) P-mdist | 15.12.2022 | 20.12.2022 | CNH | 4.73 |
| (RMB hedged) P-mdist | 17.1.2023 | 20.1.2023 | CNH | 4.68 |
| (RMB hedged) P-mdist | 15.2.2023 | 21.2.2023 | CNH | 4.82 |
| (RMB hedged) P-mdist | 15.3.2023 | 20.3.2023 | CNH | 4.80 |
| (SGD hedged) P-mdist | 19.4.2022 | 22.4.2022 | SGD | 0.38 |
| (SGD hedged) P-mdist | 16.5.2022 | 19.5.2022 | SGD | 0.42 |
| (SGD hedged) P-mdist | 15.6.2022 | 21.6.2022 | SGD | 0.41 |
| (SGD hedged) P-mdist | 15.7.2022 | 20.7.2022 | SGD | 0.38 |
| (SGD hedged) P-mdist | 16.8.2022 | 19.8.2022 | SGD | 0.40 |
| (SGD hedged) P-mdist | 15.9.2022 | 20.9.2022 | SGD | 0.39 |
| (SGD hedged) P-mdist | 17.10.2022 | 20.10.2022 | SGD | 0.38 |
| (SGD hedged) P-mdist | 15.11.2022 | 18.11.2022 | SGD | 0.47 |
| (SGD hedged) P-mdist | 15.12.2022 | 20.12.2022 | SGD | 0.49 |
| (SGD hedged) P-mdist | 17.1.2023 | 20.1.2023 | SGD | 0.49 |
| (SGD hedged) P-mdist | 15.2.2023 | 21.2.2023 | SGD | 0.50 |
| (SGD hedged) P-mdist | 15.3.2023 | 20.3.2023 | SGD | 0.50 |
| (USD hedged) P-mdist | 19.4.2022 | 22.4.2022 | USD | 0.38 |
| (USD hedged) P-mdist | 16.5.2022 | 19.5.2022 | USD | 0.41 |
| (USD hedged) P-mdist | 15.6.2022 | 21.6.2022 | USD | 0.40 |
| (USD hedged) P-mdist | 15.7.2022 | 20.7.2022 | USD | 0.37 |
| (USD hedged) P-mdist | 16.8.2022 | 19.8.2022 | USD | 0.39 |
| (USD hedged) P-mdist | 15.9.2022 | 20.9.2022 | USD | 0.38 |
| (USD hedged) P-mdist | 17.10.2022 | 20.10.2022 | USD | 0.37 |
| (USD hedged) P-mdist | 15.11.2022 | 18.11.2022 | USD | 0.49 |
| (USD hedged) P-mdist | 15.12.2022 | 20.12.2022 | USD | 0.50 |
| (USD hedged) P-mdist | 17.1.2023 | 20.1.2023 | USD | 0.50 |
| (USD hedged) P-mdist | 15.2.2023 | 21.2.2023 | USD | 0.52 |
| (USD hedged) P-mdist | 15.3.2023 | 20.3.2023 | USD | 0.51 |
| Q-6%-mdist | 11.4.2022 | 14.4.2022 | EUR | 0.43 |
| Q-6%-mdist | 10.5.2022 | 13.5.2022 | EUR | 0.41 |
| Q-6%-mdist | 10.6.2022 | 15.6.2022 | EUR | 0.41 |
| Q-6%-mdist | 11.7.2022 | 14.7.2022 | EUR | 0.38 |
| Q-6%-mdist | 10.8.2022 | 15.8.2022 | EUR | 0.39 |
| Q-6%-mdist | 13.9.2022 | 16.9.2022 | EUR | 0.39 |
| Q-6%-mdist | 11.10.2022 | 14.10.2022 | EUR | 0.37 |
| Q-6%-mdist | 10.11.2022 | 15.11.2022 | EUR | 0.38 |
| Q-6%-mdist | 12.12.2022 | 15.12.2022 | EUR | 0.39 |
| Q-6%-mdist | 10.1.2023 | 13.1.2023 | EUR | 0.38 |
| Q-6%-mdist | 10.2.2023 | 15.2.2023 | EUR | 0.39 |
| Q-6%-mdist | 10.3.2023 | 15.3.2023 | EUR | 0.39 |
| (USD hedged) Q-6%-mdist | 11.4.2022 | 14.4.2022 | USD | 0.47 |
| (USD hedged) Q-6%-mdist | 10.5.2022 | 13.5.2022 | USD | 0.46 |
| (USD hedged) Q-6%-mdist | 10.6.2022 | 15.6.2022 | USD | 0.45 |
| (USD hedged) Q-6%-mdist | 11.7.2022 | 14.7.2022 | USD | 0.42 |
| (USD hedged) Q-6%-mdist | 10.8.2022 | 15.8.2022 | USD | 0.44 |
| (USD hedged) Q-6%-mdist | 13.9.2022 | 16.9.2022 | USD | 0.43 |
| (USD hedged) Q-6%-mdist | 11.10.2022 | 14.10.2022 | USD | 0.41 |
| (USD hedged) Q-6%-mdist | 10.11.2022 | 15.11.2022 | USD | 0.42 |
| (USD hedged) Q-6%-mdist | 12.12.2022 | 15.12.2022 | USD | 0.44 |
| (USD hedged) Q-6%-mdist | 10.1.2023 | 13.1.2023 | USD | 0.43 |
| (USD hedged) Q-6%-mdist | 10.2.2023 | 15.2.2023 | USD | 0.45 |
| (USD hedged) Q-6%-mdist | 10.3.2023 | 15.3.2023 | USD | 0.45 |
| Q-mdist | 19.4.2022 | 22.4.2022 | EUR | 0.35 |
| Q-mdist | 16.5.2022 | 19.5.2022 | EUR | 0.34 |
| Q-mdist | 15.6.2022 | 21.6.2022 | EUR | 0.33 |
| Q-mdist | 15.7.2022 | 20.7.2022 | EUR | 0.31 |
| Q-mdist | 16.8.2022 | 19.8.2022 | EUR | 0.32 |
| Q-mdist | 15.9.2022 | 20.9.2022 | EUR | 0.32 |
| Q-mdist | 17.10.2022 | 20.10.2022 | EUR | 0.30 |
| Q-mdist | 15.11.2022 | 18.11.2022 | EUR | 0.34 |
| Q-mdist | 15.12.2022 | 20.12.2022 | EUR | 0.35 |
| Q-mdist | 17.1.2023 | 20.1.2023 | EUR | 0.35 |

UBS (Lux) Bond Fund – Euro High Yield (EUR) Jahresbericht und geprüfter Jahresabschluss per 31. März 2023
| UBS (Lux) Bond Fund – Euro High Yield (EUR) | Ex-Date | Pay-Date | Währung | Betrag pro Anteil |
| --- | --- | --- | --- | --- |
| Q-mdist | 15.2.2023 | 21.2.2023 | EUR | 0.36 |
| Q-mdist | 15.3.2023 | 20.3.2023 | EUR | 0.36 |
| (GBP hedged) Q-mdist | 19.4.2022 | 22.4.2022 | GBP | 0.39 |
| (GBP hedged) Q-mdist | 16.5.2022 | 19.5.2022 | GBP | 0.44 |
| (GBP hedged) Q-mdist | 15.6.2022 | 21.6.2022 | GBP | 0.44 |
| (GBP hedged) Q-mdist | 15.7.2022 | 20.7.2022 | GBP | 0.41 |
| (GBP hedged) Q-mdist | 16.8.2022 | 19.8.2022 | GBP | 0.42 |
| (GBP hedged) Q-mdist | 15.9.2022 | 20.9.2022 | GBP | 0.42 |
| (GBP hedged) Q-mdist | 17.10.2022 | 20.10.2022 | GBP | 0.40 |
| (GBP hedged) Q-mdist | 15.11.2022 | 18.11.2022 | GBP | 0.46 |
| (GBP hedged) Q-mdist | 15.12.2022 | 20.12.2022 | GBP | 0.48 |
| (GBP hedged) Q-mdist | 17.1.2023 | 20.1.2023 | GBP | 0.47 |
| (GBP hedged) Q-mdist | 15.2.2023 | 21.2.2023 | GBP | 0.49 |
| (GBP hedged) Q-mdist | 15.3.2023 | 20.3.2023 | GBP | 0.49 |
| (USD hedged) Q-mdist | 19.4.2022 | 22.4.2022 | USD | 0.41 |
| (USD hedged) Q-mdist | 16.5.2022 | 19.5.2022 | USD | 0.45 |
| (USD hedged) Q-mdist | 15.6.2022 | 21.6.2022 | USD | 0.44 |
| (USD hedged) Q-mdist | 15.7.2022 | 20.7.2022 | USD | 0.41 |
| (USD hedged) Q-mdist | 16.8.2022 | 19.8.2022 | USD | 0.43 |
| (USD hedged) Q-mdist | 15.9.2022 | 20.9.2022 | USD | 0.42 |
| (USD hedged) Q-mdist | 17.10.2022 | 20.10.2022 | USD | 0.41 |
| (USD hedged) Q-mdist | 15.11.2022 | 18.11.2022 | USD | 0.54 |
| (USD hedged) Q-mdist | 15.12.2022 | 20.12.2022 | USD | 0.56 |
| (USD hedged) Q-mdist | 17.1.2023 | 20.1.2023 | USD | 0.55 |
| (USD hedged) Q-mdist | 15.2.2023 | 21.2.2023 | USD | 0.57 |
| (USD hedged) Q-mdist | 15.3.2023 | 20.3.2023 | USD | 0.57 |
| U-X-UKdist-mdist | 19.4.2022 | 22.4.2022 | EUR | 39.43 |
| U-X-UKdist-mdist | 16.5.2022 | 19.5.2022 | EUR | 22.38 |
| U-X-UKdist-mdist | 15.6.2022 | 21.6.2022 | EUR | 64.63 |
| U-X-UKdist-mdist | 15.7.2022 | 20.7.2022 | EUR | 43.96 |
| U-X-UKdist-mdist | 16.8.2022 | 19.8.2022 | EUR | 41.39 |
| U-X-UKdist-mdist | 15.9.2022 | 20.9.2022 | EUR | 46.31 |
| U-X-UKdist-mdist | 17.10.2022 | 20.10.2022 | EUR | 42.02 |
| U-X-UKdist-mdist | 15.11.2022 | 18.11.2022 | EUR | 47.44 |
| U-X-UKdist-mdist | 15.12.2022 | 20.12.2022 | EUR | 61.61 |
| U-X-UKdist-mdist | 17.1.2023 | 20.1.2023 | EUR | 40.83 |
| U-X-UKdist-mdist | 15.2.2023 | 21.2.2023 | EUR | 42.33 |
| U-X-UKdist-mdist | 15.3.2023 | 20.3.2023 | EUR | 41.49 |

UBS (Lux) Bond Fund – Euro High Yield (EUR)
Jahresbericht und geprüfter Jahresabschluss per 31. März 2023

### Aufstellung der Wertpapierbestände und anderer Nettovermögenswerte per 31. März 2023
| Bezeichnung | Anzahl/ | Bewertung in EUR | 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 |  |  |  |
| EUR |  |  |  |
| EUR	ALTICE FINCO SA-REG-S 4.75000% 17-15.01.28 | 8 430 000.00 | 6 312 131.10 | 0.55 |
| EUR	ALTICE FRANCE HOLDING SA-REG-S 8.00000% 19-15.05.27 | 15 455 000.00 | 11 513 109.52 | 1.00 |
| EUR	ALTICE FRANCE HOLDING SA-REG-S 4.00000% 20-15.02.28 | 1 105 000.00 | 723 624.72 | 0.06 |
| EUR	ALTICE FRANCE-REG-S 5.87500% 18-01.02.27 | 28 880 000.00 | 25 468 694.40 | 2.22 |
| EUR	ARD FINANCE SA-REG-S (PIK) 5.00000% 19-30.06.27 | 6 780 621.00 | 5 052 376.32 | 0.44 |
| EUR	ARDAGH METAL PACKAGING FINANCE -REG-S 3.00000% 21-01.09.29 | 3 180 000.00 | 2 361 150.00 | 0.21 |
| EUR	ARDAGH PACKAGING FINANCE/MP-REG-S 2.12500% 19-15.08.26 | 2 943 000.00 | 2 571 507.88 | 0.22 |
| EUR	ATLANTIA SPA-REG-S 1.87500% 21-12.02.28 | 2 400 000.00 | 2 011 200.00 | 0.17 |
| EUR	AZELIS FINANCE NV-REG-S 5.75000% 23-15.03.28 | 2 145 000.00 | 2 169 667.50 | 0.19 |
| EUR	BALL CORP 1.50000% 19-15.03.27 | 3 350 000.00 | 3 001 600.00 | 0.26 |
| EUR	BRITISH AIRWAYS PLC-REG-S 2.75000% 21-25.03.25 | 4 300 000.00 | 4 102 718.50 | 0.36 |
| EUR	CHEPLAPHARM ARZNEIMITTEL GMBH-REG-S 3.50000% 20-11.02.27 | 2 865 000.00 | 2 635 800.00 | 0.23 |
| EUR	CHROME HOLDCO REG-S-SUB 5.00000% 21-31.05.29 | 2 000 000.00 | 1 475 000.00 | 0.13 |
| EUR	CONSOLIDATED ENERGY FINANCE SA-REG-S 5.00000% 21-15.10.28 | 2 785 000.00 | 2 406 351.40 | 0.21 |
| EUR	CROWN EUROPEAN HOLDINGS SA-REG-S 2.87500% 18-01.02.26 | 7 180 000.00 | 6 867 095.60 | 0.60 |
| EUR	DEMIRE DUTCH MITSTND REL EST AG-REG-S 1.87500% 19-15.10.24 | 1 300 000.00 | 897 802.36 | 0.08 |
| EUR	DUFRY ONE BV-REG-S 2.50000% 17-15.10.24 | 1 730 000.00 | 1 697 735.50 | 0.15 |
| EUR	DUFRY ONE BV-REG-S 2.00000% 19-15.02.27 | 1 010 000.00 | 869 296.90 | 0.08 |
| EUR	EG GLOBAL FINANCE PLC-REG-S 3.62500% 19-07.02.24 | 2 790 000.00 | 2 723 877.00 | 0.24 |
| EUR	ELIOR GROUP SA-REG-S 3.75000% 21-15.07.26 | 2 390 000.00 | 2 084 137.37 | 0.18 |
| EUR	EP INFRASTRUCTURE AS-REG-S 1.69800% 19-30.07.26 | 2 300 000.00 | 1 903 250.00 | 0.17 |
| EUR	FAURECIA SE-REG-S 3.75000% 20-15.06.28 | 12 150 000.00 | 10 874 250.00 | 0.95 |
| EUR	FAURECIA-REG-S 2.75000% 21-15.02.27 | 3 600 000.00 | 3 195 280.80 | 0.28 |
| EUR	FORD MOTOR CREDIT CO LLC 2.38600% 19-17.02.26 | 6 645 000.00 | 6 179 876.59 | 0.54 |
| EUR	FORD MOTOR CREDIT CO LLC 2.33000% 19-25.11.25 | 3 670 000.00 | 3 413 870.70 | 0.30 |
| EUR	GARFUNKELUX HOLDCO 3 SA-REG-S 6.75000% 20-01.11.25 | 2 310 000.00 | 1 760 220.00 | 0.15 |
| EUR	GRIFOLS ESCROW ISSUER SA-REG-S 3.87500% 21-15.10.28 | 5 430 000.00 | 4 214 244.72 | 0.37 |
| EUR	GTC AURORA LUXEMBOURG SA-REG-S 2.25000% 21-23.06.26 | 4 400 000.00 | 3 454 825.00 | 0.30 |
| EUR	HEIMSTADEN AB-REG-S 4.25000% 21-09.03.26 | 700 000.00 | 490 941.02 | 0.04 |
| EUR	IHO VERWALTUNGS GMBH-REG-S (PIK) 3.87500% 19-15.05.27 | 2 585 000.00 | 2 265 985.15 | 0.20 |
| EUR	ILIAD HOLDING SASU-REG-S 5.12500% 21-15.10.26 | 4 510 000.00 | 4 337 790.16 | 0.38 |
| EUR	ILIAD HOLDING SASU-REG-S 5.62500% 21-15.10.28 | 3 000 000.00 | 2 787 948.00 | 0.24 |
| EUR	INEOS QUATTRO FINANCE 1 PLC-REG-S 3.75000% 21-15.07.26 | 7 220 000.00 | 6 245 300.00 | 0.54 |
| EUR	INTL CONSOLIDATED AIRLINES GP-REG-S 3.75000% 21-25.03.29 | 1 600 000.00 | 1 324 000.00 | 0.12 |
| EUR	INTRUM AB-REG-S 3.00000% 19-15.09.27 | 1 680 000.00 | 1 299 984.00 | 0.11 |
| EUR	IQVIA INC-REG-S 2.25000% 19-15.01.28 | 4 635 000.00 | 4 100 102.46 | 0.36 |
| EUR	IQVIA INC-REG-S 2.87500% 20-15.06.28 | 3 300 000.00 | 2 957 625.00 | 0.26 |
| EUR	JAGUAR LAND ROVER AUTOMOTIVE PLC-REG-S 6.87500% 19-15.11.26 | 1 000 000.00 | 953 550.00 | 0.08 |
| EUR	JAGUAR LAND ROVER AUTOMOTIVE PLC-REG-S 5.87500% 19-15.11.24 | 6 761 000.00 | 6 634 663.96 | 0.58 |
| EUR	LABORATOIRE EIMER SELARL-REG-S 5.00000% 21-01.02.29 | 1 735 000.00 | 1 292 793.61 | 0.11 |
| EUR	LHMC FINCO SARL-REG-S 6.25000% 18-20.12.23 | 10 431 000.00 | 2 506 432.45 | 0.22 |
| EUR	LOXAM SAS-REG-S 2.87500% 19-15.04.26 | 3 040 000.00 | 2 765 974.40 | 0.24 |
| EUR	LOXAM SAS-REG-S 3.75000% 19-15.07.26 | 8 735 000.00 | 8 091 317.85 | 0.70 |
| EUR	LUNE HOLDINGS SARL-REG-S 5.62500% 21-15.11.28 | 1 895 000.00 | 1 603 170.00 | 0.14 |
| EUR	MONITCHEM HOLDCO 2 SA-REG-S-SUB 9.50000% 19-15.09.26 | 10 792 000.00 | 10 738 040.00 | 0.93 |
| EUR	NH HOTEL GROUP SA-REG-S 4.00000% 21-02.07.26 | 4 000 000.00 | 3 752 160.00 | 0.33 |
| EUR	NIDDA BONDCO GMBH-REG-S 5.00000% 17-30.09.25 | 4 675 000.00 | 4 591 785.00 | 0.40 |
| EUR	NIDDA HEALTHCARE HOLDING AG-REG-S 3.50000% 17-30.09.24 | 534 000.00 | 522 618.32 | 0.05 |
| EUR	NIDDA HEALTHCARE HOLDING GMBH-REG-S 7.50000% 22-21.08.26 | 20 371 000.00 | 19 888 248.05 | 1.73 |
| EUR	NISSAN MOTOR CO LTD-REG-S 3.20100% 20-17.09.28 | 1 210 000.00 | 1 079 574.10 | 0.09 |
| EUR	ONTEX GROUP N.V-REG-S 3.50000% 21-15.07.26 | 6 920 000.00 | 6 054 280.32 | 0.53 |
| EUR	PUBLIC POWER CORP SA-REG-S 3.87500% 21-30.03.26 | 2 185 000.00 | 2 060 673.50 | 0.18 |
| EUR	ROLLS-ROYCE PLC-REG-S 4.62500% 20-16.02.26 | 4 900 000.00 | 4 845 198.40 | 0.42 |
| EUR	SAIPEM FINANCE INTERNATIONAL BV-REG-S 3.37500% 20-15.07.26 | 4 645 000.00 | 4 270 613.00 | 0.37 |
| EUR	SAZKA GROUP AS-REG-S 3.87500% 20-15.02.27 | 2 410 000.00 | 2 187 075.00 | 0.19 |
| EUR	SOFTBANK GROUP CORP-REG-S 5.00000% 18-15.04.28 | 10 780 000.00 | 9 360 201.77 | 0.81 |
| EUR	SOFTBANK GROUP CORP-REG-S 4.00000% 18-20.04.23 | 287 000.00 | 285 929.72 | 0.02 |
| EUR	SUMMER BC HOLDCO A SARL-REG-S 9.25000% 19-31.10.27 | 2 970 000.00 | 2 193 058.74 | 0.19 |
| EUR	TELECOM ITALIA SPA/MILANO-REG-S 6.87500% 23-15.02.28 | 4 410 000.00 | 4 498 200.00 | 0.39 |
| EUR	TEVA PHARMACEUTICAL FINANCE II BV 4.50000% 18-01.03.25 | 13 658 000.00 | 13 438 618.38 | 1.17 |
| EUR	TEVA PHARMACEUTICAL FIN 6.00000% 20-31.01.25 | 10 890 000.00 | 10 973 716.87 | 0.96 |
| EUR	TEVA PHARMACEUTICAL FINANCE II BV 3.75000% 21-09.05.27 | 6 630 000.00 | 5 982 746.25 | 0.52 |
| EUR	TEVA PHARMACEUTICAL FINANCE II BV 7.37500% 23-15.09.29 | 5 800 000.00 | 5 856 028.00 | 0.51 |
| EUR	TI AUTOMOTIVE FINANCE PLC-REG-S 3.75000% 21-15.04.29 | 2 700 000.00 | 2 052 000.00 | 0.18 |
| EUR	TITAN HOLDINGS II BV-REG-S 5.12500% 21-15.07.29 | 1 640 000.00 | 1 255 666.00 | 0.11 |
| EUR	TUI CRUISES GMBH-REG-S 6.50000% 21-15.05.26 | 3 880 000.00 | 3 462 900.00 | 0.30 |
| EUR	UNITED GROUP BV-REG-S 4.87500% 17-01.07.24 | 3 100 000.00 | 3 007 787.40 | 0.26 |
| EUR	VERISURE HOLDING AB-REG-S 9.25000% 22-15.10.27 | 2 735 000.00 | 2 930 032.85 | 0.26 |
| EUR	VERISURE HOLDING AB-REG-S 7.12500% 23-01.02.28 | 1 370 000.00 | 1 367 602.50 | 0.12 |
| EUR	VERISURE MIDHOLDING AB-REG-S 5.25000% 21-15.02.29 | 2 880 000.00 | 2 390 515.20 | 0.21 |
| EUR	VERTICAL HOLDCO GMBH-REG-S 6.62500% 20-15.07.28 | 4 750 000.00 | 3 611 314.80 | 0.31 |
| EUR	ZF EUROPE FINANCE BV-REG-S 2.50000% 19-23.10.27 | 1 300 000.00 | 1 130 142.00 | 0.10 |
| EUR	ZIGGO BOND CO BV-REG-S 3.37500% 20-28.02.30 | 1 040 000.00 | 804 046.88 | 0.07 |
| Total EUR |  | 306 189 044.99 | 26.67 |
| GBP |  |  |  |
| GBP	BRACKEN MIDCO1 PLC-REG-S 6.75000% 21-01.11.27 | 3 380 000.00 | 3 041 821.32 | 0.26 |
| GBP	MPT OPERATING PARTNERSHIP LP/FIN CORP 2.50000% 21-24.03.26 | 1 150 000.00 | 973 073.47 | 0.08 |
| GBP	PINNACLE BIDCO PLC-REG-S 6.37500% 18-15.02.25 | 6 420 000.00 | 6 722 871.48 | 0.59 |
| Total GBP |  | 10 737 766.27 | 0.93 |
| USD |  |  |  |
| USD	CREDIT SUISSE-REG-S-SUB 6.50000% 13-08.08.23 | 5 840 000.00 | 5 119 977.91 | 0.44 |
| USD	DRAX FINCO PLC-144A 6.62500% 18-01.11.25 | 3 300 000.00 | 2 988 057.44 | 0.26 |
| USD	ENQUEST PLC-REG-S 11.62500% 22-01.11.27 | 3 990 000.00 | 3 401 307.89 | 0.30 |
| USD	NEPTUNE ENERGY BONDCO PLC-REG-S 6.62500% 18-15.05.25 | 11 545 000.00 | 10 299 703.67 | 0.90 |
| Total USD |  | 21 809 046.91 | 1.90 |
| Total Notes, fester Zins |  | 338 735 858.17 | 29.50 |

UBS (Lux) Bond Fund – Euro High Yield (EUR) Jahresbericht und geprüfter Jahresabschluss per 31. März 2023
| Bezeichnung | Anzahl/ | Bewertung in EUR | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
| Notes, variabler Zins |  |  |  |
| EUR |  |  |  |
| EUR	ABANCA CORP BANCARIA SA-REG-S-SUB VAR 21-PRP | 3 200 000.00 | 2 583 680.00 | 0.22 |
| EUR	ABERTIS INFRA FINANCE BV-REG-S-SUB 3.248%/VAR 20-PRP | 7 700 000.00 | 6 845 300.00 | 0.60 |
| EUR	ACCOR SA-REG-S-SUB 2.625%/VAR 19-PRP | 4 200 000.00 | 3 833 550.00 | 0.33 |
| EUR	ALPHA BANK AE-REG-S-SUB 5.500%/VAR 21-11.06.31 | 1 680 000.00 | 1 336 440.00 | 0.12 |
| EUR	BANCO BPM SPA-REG-S-SUB 5.000%/VAR 20-14.09.30 | 3 340 000.00 | 3 185 525.00 | 0.28 |
| EUR	BANKINTER SA-REG-S-SUB COCO 7.375%/VAR 23-PRP | 3 000 000.00 | 2 795 172.00 | 0.24 |
| EUR	BAYER AG-REG-S-SUB 5.375%/VAR 22-25.03.82 | 4 200 000.00 | 3 847 662.00 | 0.33 |
| EUR	BNP PARIBAS SA-REG-S-SUB 7.375%/VAR 23-PRP | 1 600 000.00 | 1 522 000.00 | 0.13 |
| EUR	CASTELLUM AB-REG-S 3.125%/VAR 21-PRP | 2 990 000.00 | 1 958 450.00 | 0.17 |
| EUR	CITCON-REG-S-SUB 4.496%/VAR 19-PRP | 500 000.00 | 287 625.00 | 0.02 |
| EUR	CITYCON OYJ-REG-S-SUB 3.250%/VAR 21-PRP | 2 730 000.00 | 1 391 612.04 | 0.12 |
| EUR	CPI PROPERTY GROUP SA-REG-S-SUB 4.875%/VAR 20-PRP | 1 300 000.00 | 567 775.00 | 0.05 |
| EUR	DEUTSCHE BANK AG-REG-S-SUB 6.750%/VAR 22-PRP | 2 800 000.00 | 2 100 100.80 | 0.18 |
| EUR	EDP-ENERGIAS DE PORTUGAL SA-REG-S-SUB 4.496%/VAR 19-30.04.79 | 1 000 000.00 | 988 490.00 | 0.09 |
| EUR	ELECTRICITE DE FRANCE SA-REG-S-SUB 3.375%/VAR 20-PRP | 3 200 000.00 | 2 380 800.00 | 0.21 |
| EUR	ELECTRICITE DE FRANCE SA-REG-S-SUB 2.875%/VAR 20-PRP | 9 200 000.00 | 7 695 358.40 | 0.67 |
| EUR	FASTIGHETS AB BALDER-REG-S-SUB 2.873%/VAR 21-02.06.81 | 2 190 000.00 | 1 466 621.10 | 0.13 |
| EUR	HEIMSTADEN AB-REG-S-SUB 6.750%/VAR 21-PRP | 5 300 000.00 | 2 497 360.00 | 0.22 |
| EUR	NOVO BANCO SA-REG-S-SUB 8.500%/VAR 18-06.07.28 | 2 800 000.00 | 2 665 600.00 | 0.23 |
| EUR	PERMANENT TSB GROUP HOLDINGS PLC-REG-S-SUB VAR 22-PRP | 2 110 000.00 | 2 131 231.87 | 0.19 |
| EUR	RABOBANK NEDERLAND-REG-S-SUB 3.100%/VAR 21-PRP | 5 400 000.00 | 4 086 147.60 | 0.36 |
| EUR	REPSOL INTERNATIONAL FINANCE BV-SUB 4.247%/VAR 20-PRP | 2 645 000.00 | 2 369 708.40 | 0.21 |
| EUR	REPSOL INTERNATIONAL FINANCE BV-REG-S-SUB 2.500%/VAR 21-PRP | 2 200 000.00 | 1 909 600.00 | 0.17 |
| EUR	SAMHALLSBYGGNADSBOLAGET I NORDEN-REG-S-SUB 2.875%/VAR 21-PRP | 4 095 000.00 | 1 437 836.40 | 0.13 |
| EUR	TELEFONICA EUROPE BV-REG-S-SUB 2.376%/VAR 21-PRP | 800 000.00 | 625 977.60 | 0.05 |
| EUR	TELEFONICA EUROPE BV-REG-S-SUB 2.880%/VAR 21-PRP | 1 300 000.00 | 1 080 479.40 | 0.09 |
| EUR	TELEFONICA EUROPE BV-REG-S-SUB 7.125%/VAR 22-PRP | 800 000.00 | 813 000.00 | 0.07 |
| EUR	TELEFONICA EUROPE BV-REG-S-SUB 6.135%/VAR 23-PRP | 1 800 000.00 | 1 737 799.20 | 0.15 |
| EUR	UNICREDIT SPA-REG-S-SUB 2.731%/VAR 20-15.01.32 | 1 995 000.00 | 1 699 572.42 | 0.15 |
| EUR	VODAFONE GROUP PLC-REG-S-SUB 3.000%/VAR 20-27.08.80 | 5 470 000.00 | 4 413 163.18 | 0.38 |
| Total EUR |  | 72 253 637.41 | 6.29 |
| GBP |  |  |  |
| GBP	CO-OPRATIVE BNK FINCE PLC/THE-REG-S 9.000%/VAR 20-27.11.25 | 5 380 000.00 | 6 159 829.00 | 0.54 |
| GBP	TVL FINANCE PLC-REG-S OVR NT SONION+539.5BP 19-15.07.25 | 7 120 000.00 | 7 859 927.54 | 0.68 |
| Total GBP |  | 14 019 756.54 | 1.22 |
| USD |  |  |  |
| USD	ING GROEP NV-REG-S-SUB COCO 7.500%/VAR 23-PRP | 4 410 000.00 | 3 653 182.38 | 0.32 |
| USD	SOCIETE GENERAL SA-REG-S-SUB 7.375%/VAR 18-PRP | 3 000 000.00 | 2 499 828.17 | 0.22 |
| USD	SOCIETE GENERALE SA-REG-S-SUB 9.375%/VAR 22-PRP | 3 670 000.00 | 3 196 408.03 | 0.28 |
| USD	VODAFONE GROUP PLC-SUB 3.250%/VAR 21-04.06.81 | 1 663 000.00 | 1 297 300.27 | 0.11 |
| Total USD |  | 10 646 718.85 | 0.93 |
| Total Notes, variabler Zins |  | 96 920 112.80 | 8.44 |
| Medium-Term Notes, fester Zins |  |  |  |
| EUR |  |  |  |
| EUR	BLACKSTONE PROPERTY PARTNERS EUR-REG-S 2.20000% 18-24.07.25 | 1 400 000.00 | 1 274 649.60 | 0.11 |
| EUR	BLACKSTONE PROPERTY PARTNERS EUR-REG-S 2.00000% 19-15.02.24 | 2 570 000.00 | 2 475 506.24 | 0.22 |
| EUR	CASTELLUM HELSINKI FINANCE HOLDIN-REG-S 2.00000% 22-24.03.25 | 1 857 000.00 | 1 681 884.90 | 0.15 |
| EUR	CELLNEX FINANCE CO SA -REG-S 1.25000% 21-15.01.29 | 2 600 000.00 | 2 126 628.40 | 0.19 |
| EUR	CELLNEX FINANCE CO SA-REG-S 2.00000% 21-15.09.32 | 8 900 000.00 | 6 869 963.40 | 0.60 |
| EUR	CELLNEX FINANCE CO SA-REG-S 2.25000% 22-12.04.26 | 8 100 000.00 | 7 602 805.80 | 0.66 |
| EUR	CPI PROPERTY GROUP SA-REG-S 2.75000% 20-12.05.26 | 5 270 000.00 | 4 184 643.50 | 0.36 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 3.75000% 21-11.02.28 | 1 100 000.00 | 1 000 973.60 | 0.09 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 3.50000% 21-14.07.29 | 2 800 000.00 | 2 448 577.60 | 0.21 |
| EUR	DEUTSCHE LUFTHANSA AG-REG-S 2.87500% 21-16.05.27 | 8 100 000.00 | 7 288 704.00 | 0.64 |
| EUR	FASTIGHETS AB BALDER-REG-S 1.12500% 19-29.01.27 | 1 100 000.00 | 843 746.20 | 0.07 |
| EUR	FASTIGHETS AB BALDER-REG-S 1.25000% 20-28.01.28 | 1 470 000.00 | 1 044 631.98 | 0.09 |
| EUR	INFRASTRUTTURE WIRELESS ITALI SPA-REG-S 1.62500% 20-21.10.28 | 2 760 000.00 | 2 449 527.60 | 0.21 |
| EUR	INTESA SANPAOLO SPA-REG-S-SUB 2.92500% 20-14.10.30 | 2 760 000.00 | 2 239 083.12 | 0.21 |
| EUR	NASSA TOPCO AS-REG-S 2.87500% 17-06.04.24 | 5 754 000.00 | 5 582 818.50 | 0.49 |
| EUR	NATIONAL BANK OF GREECE SA-REG-S 7.25000% 22-22.11.27 | 3 170 000.00 | 3 188 785.42 | 0.28 |
| EUR	PPF TELECOM GROUP BV-REG-S 3.25000% 20-29.09.27 | 2 750 000.00 | 2 512 746.50 | 0.22 |
| EUR	RENAULT SA-REG-S 2.37500% 20-25.05.26 | 13 100 000.00 | 11 970 125.00 | 1.04 |
| EUR	RENAULT SA-REG-S 2.50000% 21-01.04.28 | 1 000 000.00 | 852 050.00 | 0.07 |
| EUR	RENAULT SA-REG-S 2.50000% 21-02.06.27 | 3 100 000.00 | 2 727 987.60 | 0.24 |
| EUR	ROLLS-ROYCE PLC-REG-S 1.62500% 18-09.05.28 | 1 700 000.00 | 1 406 750.00 | 0.12 |
| EUR	SAMHALLSBYGGNADSBOLAGET I NORDEN-REG-S 1.12500% 19-04.09.26 | 3 330 000.00 | 2 397 600.00 | 0.21 |
| EUR	SHAEFFLER AG-REG-S 3.37500% 20-12.10.28 | 5 700 000.00 | 5 209 013.40 | 0.45 |
| EUR	TELECOM ITALIA FINANCE SA 7.75000% 03-24.01.33 | 1 742 000.00 | 1 863 940.00 | 0.16 |
| EUR	TELECOM ITALIA SPA-REG-S 2.50000% 17-19.07.23 | 3 500 000.00 | 3 473 750.00 | 0.30 |
| EUR	TELECOM ITALIA SPA-REG-S 2.37500% 17-12.10.27 | 8 490 000.00 | 7 321 419.42 | 0.64 |
| EUR	TELECOM ITALIA SPA-REG-S 2.87500% 18-28.01.26 | 7 030 000.00 | 6 554 687.64 | 0.57 |
| EUR	TELECOM ITALIA SPA/MILANO-REG-S 1.62500% 21-18.01.29 | 3 980 000.00 | 3 114 190.80 | 0.27 |
| EUR	VALEO SA-REG-S 5.37500% 22-28.05.27 | 3 000 000.00 | 2 984 214.00 | 0.26 |
| EUR	WIZZ AIR FINANCE CO BV-REG-S 1.00000% 22-19.01.26 | 4 267 000.00 | 3 694 411.27 | 0.32 |
| EUR	ZF FINANCE GMBH-REG-S 3.75000% 20-21.09.28 | 7 200 000.00 | 6 417 115.20 | 0.56 |
| EUR	ZF FINANCE GMBH-REG-S 2.75000% 20-25.05.27 | 6 500 000.00 | 5 792 293.00 | 0.50 |
| EUR	ZF FINANCE GMBH-REG-S 2.25000% 21-03.05.28 | 1 700 000.00 | 1 427 432.20 | 0.12 |
| EUR	ZF FINANCE GMBH-REG-S 5.75000% 23-03.08.26 | 500 000.00 | 501 232.00 | 0.04 |
| Total EUR |  | 122 523 887.89 | 10.67 |
| GBP |  |  |  |
| GBP	FORD MOTOR CREDIT CO LLC 2.74800% 20-14.06.24 | 2 110 000.00 | 2 281 249.97 | 0.20 |
| Total GBP |  | 2 281 249.97 | 0.20 |
| Total Medium-Term Notes, fester Zins |  | 124 805 137.86 | 10.87 |

UBS (Lux) Bond Fund – Euro High Yield (EUR)
Jahresbericht und geprüfter Jahresabschluss per 31. März 2023
| Bezeichnung | Anzahl/ | Bewertung in EUR | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
| Medium-Term Notes, variabler Zins |  |  |  |
| EUR |  |  |  |
| EUR	ALPHA BANK SA-REG-S 7.500%/VAR 22-16.06.27 | 3 000 000.00 | 2 957 340.00 | 0.26 |
| EUR	BANCO BPM SPA-REG-S 6.000%/VAR 22-21.01.28 | 2 395 000.00 | 2 393 352.24 | 0.21 |
| EUR	BANCO BPM SPA-REG-S-SUB 3.250%/VAR 20-14.01.2031 | 2 185 000.00 | 1 917 009.75 | 0.17 |
| EUR	BANCO COMERCIAL PORTUGUES SA +656.50BP 22-25.10.25 | 5 300 000.00 | 5 339 750.00 | 0.47 |
| EUR	BANCO COMERCIAL PORTUGUES SA-SUB 8.750%/VAR 22-05.03.33 | 1 500 000.00 | 1 289 520.00 | 0.11 |
| EUR	BANCO COMERCIAL PORTUGUES-REG-S-SUB 3.871%/VAR 19-27.03.30 | 2 600 000.00 | 1 961 362.00 | 0.17 |
| EUR	BANK OF IRELAND GROUP PLC-REG-S-SUB 6.750%/VAR 22-01.03.33 | 1 105 000.00 | 1 121 608.15 | 0.10 |
| EUR	BARCLAYS BANK PLC-SUB 4.750%/3M EURIBOR+71BP 05-PRP | 2 120 000.00 | 1 644 590.00 | 0.14 |
| EUR	COMMERZBANK AG-REG-S-SUB 4.000%/VAR 20-05.12.30 | 3 000 000.00 | 2 813 070.00 | 0.23 |
| EUR	CREDIT AGRICOLE SA-SUB-REG-S 7.250%/VAR 23-PRP | 3 300 000.00 | 3 201 990.00 | 0.28 |
| EUR	CREDIT SUISSE LONDON-REG-S 3M EURIBOR+100BP 21-01.09.23 | 3 910 000.00 | 3 860 749.64 | 0.34 |
| EUR	DEUTSCHE PFANDBRIEFBANK AG-REG-S-SUB 2.875%/VAR 17-28.06.27 | 1 700 000.00 | 1 326 000.00 | 0.12 |
| EUR	EDP - ENERGIAS DE PORT SA-REG-S-SUB 5.943%/VAR 23-23.04.83 | 2 900 000.00 | 2 842 000.00 | 0.25 |
| EUR	ELECTRICITE DE FRANCE SA-REG-S-SUB 5.000%/VAR 14-PRP | 5 100 000.00 | 4 692 958.80 | 0.41 |
| EUR	ENEL SPA-REG-S-SUB 6.375%/VAR 23-PRP | 2 010 000.00 | 2 020 050.00 | 0.18 |
| EUR	ICCREA BANCA SPA-REG-S 6.875%/VAR 23-20.01.28 | 3 160 000.00 | 3 193 635.04 | 0.28 |
| EUR	PIRAEUS BANK S.A-REG-S 8.250%/VAR 22-28.01.27 | 4 260 000.00 | 4 238 700.00 | 0.37 |
| EUR	PIRAEUS GROUP FINANCE PLC-REG-S-SUB 9.750%/VAR 19-26.06.29 | 5 315 000.00 | 4 985 236.14 | 0.43 |
| EUR	SOCIETE GENERALE SA-SUB-REG-S 7.875%/VAR 23-PRP | 2 700 000.00 | 2 453 733.00 | 0.21 |
| EUR	UNICREDIT SPA-REG-S 5.850%/VAR 22-15.11.27 | 4 215 000.00 | 4 300 167.45 | 0.37 |
| EUR	UNICREDIT SPA-REG-S-SUB 4.450%/VAR 21-PRP | 2 500 000.00 | 1 846 875.00 | 0.16 |
| Total EUR |  | 60 399 697.21 | 5.26 |
| GBP |  |  |  |
| GBP	LLOYDS BANKING GROUP PLC-SUB COCO 8.500%/VAR 23-PRP | 3 470 000.00 | 3 647 965.66 | 0.32 |
| Total GBP |  | 3 647 965.66 | 0.32 |
| Total Medium-Term Notes, variabler Zins |  | 64 047 662.87 | 5.58 |
| Anleihen, fester Zins |  |  |  |
| EUR |  |  |  |
| EUR	888 ACQUISITIONS LTD-REG-S 7.5580% 22-15.07.27 | 3 770 000.00 | 3 185 650.00 | 0.28 |
| EUR	ALMAVIVA-THE ITALIAN INNOVATION-REG-S 4.87500% 21-30.10.26 | 7 100 000.00 | 6 638 219.48 | 0.58 |
| EUR	ALTICE FINANCING SA-REG-S 2.25000% 20-15.01.25 | 1 060 000.00 | 996 393.64 | 0.09 |
| EUR	ALTICE FINANCING SA-REG-S 3.00000% 20-15.01.28 | 6 440 000.00 | 5 127 231.76 | 0.45 |
| EUR	ALTICE FRANCE-REG-S 3.37500% 19-15.01.28 | 6 630 000.00 | 5 168 085.00 | 0.45 |
| EUR	ALTICE FRANCE-REG-S 2.50000% 19-15.01.25 | 1 010 000.00 | 939 300.00 | 0.08 |
| EUR	CAB SELAS-REG-S 3.37500% 21-01.02.28 | 2 295 000.00 | 1 876 828.05 | 0.16 |
| EUR	CANARY WHARF GROUP INVST HOLG PLC-REG-S 1.75000% 21-07.04.26 | 3 230 000.00 | 2 551 964.31 | 0.22 |
| EUR	CARNIVAL CORP-REG-S 10.12500% 20-01.02.26 | 8 700 000.00 | 9 137 871.00 | 0.80 |
| EUR	CARNIVAL CORP-REG-S 7.62500% 20-01.03.26 | 2 160 000.00 | 1 922 140.80 | 0.17 |
| EUR	CASTOR SPA-REG-S 6.00000% 22-15.02.29 | 1 765 000.00 | 1 563 200.49 | 0.14 |
| EUR	CELANESE US HOLDINGS LLC 2.12500% 18-01.03.27 | 3 755 000.00 | 3 334 815.50 | 0.29 |
| EUR	CHEMOURS CO/THE 4.00000% 18-15.05.26 | 3 500 000.00 | 3 213 938.00 | 0.28 |
| EUR	CHEPLAPHARM ARZNEIMITTEL GMBH-REG-S 4.37500% 20-15.01.28 | 3 625 000.00 | 3 363 869.50 | 0.29 |
| EUR	CHROME BIDCO SASU-REG-S 3.50000% 21-31.05.28 | 3 020 000.00 | 2 504 063.20 | 0.22 |
| EUR	CIDRON AIDA FINCO SARL-REG-S 5.00000% 21-01.04.28 | 5 150 000.00 | 4 532 216.29 | 0.39 |
| EUR	CIRSA FINANCE INTERNATIONAL SARL-REG-S 10.37500% 22-30.11.27 | 6 570 000.00 | 6 947 775.00 | 0.60 |
| EUR	CITYCON TREASURY BV-REG-S 1.25000% 16-08.09.26 | 1 050 000.00 | 818 332.20 | 0.07 |
| EUR	CONTOURGLOBAL POWER HOLDINGS SA-REG-S 2.75000% 20-01.01.26 | 2 840 000.00 | 2 543 248.40 | 0.22 |
| EUR	DRAX FINCO PLC-REG-S 2.62500% 20-01.11.25 | 3 150 000.00 | 2 984 625.00 | 0.26 |
| EUR	DUFRY ONE BV-REG-S 3.37500% 21-15.04.28 | 5 015 000.00 | 4 399 739.74 | 0.38 |
| EUR	EP INFRASTRUCTURE AS-REG-S 1.65900% 18-26.04.24 | 1 030 000.00 | 961 633.75 | 0.08 |
| EUR	EP INFRASTRUCTURE AS-REG-S 2.04500% 19-09.10.28 | 2 170 000.00 | 1 621 125.62 | 0.14 |
| EUR	FASTIGHETS AB BALDER-REG-S 1.87500% 17-14.03.25 | 1 369 000.00 | 1 212 441.16 | 0.11 |
| EUR	FASTIGHETS AB BALDER-REG-S 1.87500% 17-23.01.26 | 4 150 000.00 | 3 491 577.60 | 0.30 |
| EUR	FAURECIA SE-REG-S 7.25000% 22-15.06.26 | 2 430 000.00 | 2 503 152.72 | 0.22 |
| EUR	FORD MOTOR CREDIT CO LLC 4.86700% 23-03.08.27 | 4 090 000.00 | 3 967 300.00 | 0.35 |
| EUR	GAMMA BONDCO SARL-REG-S 8.12500% 21-15.11.26 | 12 740 000.00 | 12 313 210.00 | 1.07 |
| EUR	GRIFOLS SA-REG-S 3.20000% 17-01.05.25 | 5 295 000.00 | 4 805 212.50 | 0.42 |
| EUR	GRUENENTHAL GMBH-REG-S 4.12500% 21-15.05.28 | 4 080 000.00 | 3 692 400.00 | 0.32 |
| EUR	GRUPO ANTOLIN-IRAUSA SA-REG-S 3.50000% 21-30.04.28 | 7 560 000.00 | 5 445 483.12 | 0.47 |
| EUR	GRUPO-ANTOLIN IRAUSA SA-REG-S 3.37500% 18-30.04.26 | 950 000.00 | 792 453.90 | 0.07 |
| EUR	HEIMSTADEN AB-REG-S 4.37500% 21-06.03.27 | 5 200 000.00 | 3 606 096.00 | 0.31 |
| EUR	IHO VERWALTUNGS GMBH-REG-S (PIK) 3.75000% 16-15.09.26 | 4 730 000.00 | 4 243 528.96 | 0.37 |
| EUR	INEOS QUATTRO FINANCE 2 PLC-REG-S 2.50000% 21-15.01.26 | 1 685 000.00 | 1 508 917.50 | 0.13 |
| EUR	INTER MEDIA AND COMMUNICATION-REG-S 6.75000% 22-09.02.27 | 1 850 000.00 | 1 726 050.00 | 0.15 |
| EUR	INTRUM JUSTITIA AB-REG-S 3.12500% 17-15.07.24 | 2 635 000.00 | 1 312 940.79 | 0.11 |
| EUR	ITALMATCH CHEMICALS SPA-REG-S 10.00000% 23-06.02.28 | 1 675 000.00 | 1 705 987.50 | 0.15 |
| EUR	KAPLA HOLDING SAS-REG-S 3.37500% 19-15.12.26 | 4 940 000.00 | 4 334 296.72 | 0.38 |
| EUR	LAGARDERE SCA-REG-S 1.75000% 21-07.10.27 | 6 200 000.00 | 6 028 384.00 | 0.52 |
| EUR	LHMC FINCO 2 SARL-REG-S (PIK) 7.25000% 19-02.10.25 | 5 629 743.00 | 5 186 119.25 | 0.45 |
| EUR	LORCA TELECOM BONDCO SAU-REG-S 4.00000% 20-18.09.27 | 7 970 000.00 | 7 304 106.50 | 0.64 |
| EUR	LOXAM SAS-REG-S 3.25000% 19-14.01.25 | 1 210 000.00 | 1 173 317.64 | 0.10 |
| EUR	LOXAM SAS-REG-S 6.00000% 17-15.04.25 | 4 655 000.00 | 2 238 390.72 | 0.19 |
| EUR	MARCOLIN SPA-REG-S 6.12500% 21-15.11.26 | 7 554 000.00 | 6 337 806.00 | 0.55 |
| EUR	MOTION FINCO SARL-REG-S 7.00000% 20-15.05.25 | 14 915 000.00 | 15 080 705.65 | 1.31 |
| EUR	MPT OPERATING PARTNERSHIP LP/FIN CORP 3.32500% 17-24.03.25 | 1 740 000.00 | 1 443 086.40 | 0.13 |
| EUR	NIDDA BONDCO GMBH-REG-S 7.25000% 18-30.09.25 | 10 157 000.00 | 9 932 530.30 | 0.87 |
| EUR	PAPREC HOLDING-REG-S-3.50000% 21-01.07.28 | 4 515 000.00 | 3 925 882.80 | 0.34 |
| EUR	PARTS EUROPE SA-REG-S 6.50000% 20-16.07.25 | 12 775 000.00 | 12 824 183.75 | 1.12 |
| EUR	PHM GROUP HOLDING OY-144A-REG-S 4.75000% 21-18.06.26 | 4 065 000.00 | 3 656 467.50 | 0.32 |
| EUR	PICARD GROUPE SAS-REG-S 3.87500% 21-01.07.26 | 2 190 000.00 | 1 947 023.88 | 0.17 |
| EUR	PINNACLE BIDCO PLC-REG-S 5.50000% 20-15.02.25 | 14 780 000.00 | 13 615 661.16 | 1.19 |
| EUR	PLT VII FINANCE SARL-REG-S 4.62500% 20-05.01.26 | 6 930 000.00 | 6 500 340.00 | 0.57 |
| EUR	ROSSINI SARL-REG-S 6.75000% 18-30.10.25 | 15 430 000.00 | 15 481 999.10 | 1.35 |
| EUR	SIGMA HOLDCO BV-REG-S 5.75000% 18-15.05.26 | 4 190 000.00 | 3 319 737.00 | 0.29 |
| EUR	SIGNA DEVELOPMENT FINANCE SCS-REG-S 5.50000% 21-23.07.26 | 1 400 000.00 | 826 000.00 | 0.07 |
| EUR	SOFTBANK GROUP CORP-REG-S 5.25000% 15-30.07.27 | 3 820 000.00 | 3 523 848.00 | 0.31 |
| EUR	SUMMER BC HOLDCO B SARL-REG-S 5.75000% 19-31.10.26 | 12 515 000.00 | 10 888 050.00 | 0.95 |
| EUR	SUMMER BIDCO BV-REG-S (PIK) 9.00000% 19-15.11.25 | 7 129 000.00 | 6 358 593.99 | 0.55 |

UBS (Lux) Bond Fund – Euro High Yield (EUR) Jahresbericht und geprüfter Jahresabschluss per 31. März 2023
|  | Bezeichnung | Anzahl/ | Bewertung in EUR | in % des |
| --- | --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
|  |  |  |  |  |
| EUR | SUMMER BIDCO BV-REG-S (PIK) STEP-DOWN 20-15.11.25 | 8 545 000.00 | 7 438 058.12 | 0.65 |
| EUR | SUPERIOR INDUSTRIES INTERNATIONAL-REG-S 6.00000% 17-15.06.25 | 7 889 000.00 | 7 147 434.00 | 0.62 |
| EUR | TEREOS FINANCE GROUPE I SA-REG-S 7.50000% 20-30.10.25 | 3 310 000.00 | 3 366 270.00 | 0.29 |
| EUR | TRIVIUM PACKAGING FINANCE BV-REG-S 3.75000% 19-15.08.26 | 9 244 000.00 | 8 514 093.76 | 0.74 |
| EUR | UNITED GROUP BV-REG-S 4.00000% 20-15.11.27 | 3 850 000.00 | 2 829 534.40 | 0.25 |
| EUR | VALLOUREC SA-REG-S 8.50000% 21-30.06.26 | 3 460 000.00 | 3 442 700.00 | 0.30 |
| EUR | VERISURE HOLDING AB-REG-S 3.87500% 20-15.07.26 | 4 040 000.00 | 3 738 616.00 | 0.33 |
| EUR | VERTICAL MIDCO GMBH-REG-S 4.37500% 20-15.07.27 | 2 520 000.00 | 2 274 300.00 | 0.20 |
| EUR | VZ VENDOR FINANCING II BV-REG-S 2.87500% 20-15.01.29 | 1 590 000.00 | 1 266 037.50 | 0.11 |
| EUR | ZIGGO BV-REG-S 2.87500% 19-15.01.30 | 4 340 000.00 | 3 558 800.00 | 0.31 |
| EUR | ZONCOLAN BIDCO SPA-REG-S 4.87500% 21-21.10.28 | 2 860 000.00 | 2 243 384.00 | 0.20 |
| Total EUR |  |  | 316 404 776.62 | 27.56 |
| GBP |  |  |  |  |
| GBP | BELLIS ACQUISITION CO PLC-REG-S 4.50000% 21-16.02.26 | 4 855 000.00 | 4 664 161.89 | 0.41 |
| GBP | CIDRON AIDA FINCO SARL-REG-S 6.25000% 21-01.04.28 | 1 505 000.00 | 1 453 899.10 | 0.13 |
| GBP | GALAXY BIDCO LTD-REG-S 6.50000% 19-31.07.26 | 2 290 000.00 | 2 332 519.76 | 0.20 |
| GBP | GALAXY FINCO LTD-REG-S 9.25000% 19-31.07.27 | 8 760 000.00 | 8 698 339.54 | 0.76 |
| GBP | GARFUNKELUX HOLDCO 3 SA-REG-S 7.75000% 20-01.11.25 | 1 225 000.00 | 1 049 081.93 | 0.09 |
| GBP | JERROLD FINCO PLC-REG-S 4.87500% 20-15.01.26 | 1 870 000.00 | 1 829 703.03 | 0.16 |
| GBP | JERROLD FINCO PLC-REG-S 5.25000% 21-15.01.27 | 8 425 000.00 | 8 004 798.01 | 0.70 |
| GBP | MAISON FINCO PLC-REG-S 6.00000% 21-31.10.27 | 7 025 000.00 | 6 518 147.64 | 0.57 |
| GBP | STONEGATE PUB CO FIN2019 PLC-REG-S 8.25000% 20-31.07.25 | 3 630 000.00 | 3 844 552.73 | 0.33 |
| GBP | VERY GROUP FUNDING PLC/THE-REG-S 6.50000% 21-01.08.26 | 5 958 000.00 | 5 166 807.54 | 0.45 |
| GBP | VIRGIN MEDIA VENDOR FINANCING-REG-S 4.87500% 20-15.07.28 | 3 265 000.00 | 3 153 248.13 | 0.27 |
| Total GBP |  |  | 46 715 259.30 | 4.07 |
| USD |  |  |  |  |
| USD | TELECOM ITALIA CAPITAL 6.00000% 05-30.09.34 | 5 592 000.00 | 4 413 585.53 | 0.38 |
| Total USD |  |  | 4 413 585.53 | 0.38 |
| Total Anleihen, fester Zins |  | 367 533 621.45 | 32.01 |
| Anleihen, variabler Zins |  |  |  |
| EUR |  |  |  |
| EUR	888 ACQUISITIONS LTD-REG-S 3M EURIBOR+550BP 22-15.07.28 | 2 830 000.00 | 2 440 875.00 | 0.21 |
| EUR	ACCOR SA-REG-S-SUB 4.375%/VAR 19-PRP | 900 000.00 | 872 116.20 | 0.08 |
| EUR	BANCO BPM SPA-REG-S-SUB 4.250%/VAR 19-01.10.29 | 4 340 000.00 | 4 118 147.88 | 0.36 |
| EUR	BANCO DE CREDITO SOCIAL-REG-S 8.000%/VAR 22-22.09.26 | 5 700 000.00 | 5 755 632.00 | 0.50 |
| EUR	BANCO DE SABADELL SA-REG-S-SUB 5.000%/VAR 21-PRP | 2 200 000.00 | 1 534 126.00 | 0.13 |
| EUR	BANCO SANTANDER SA-REG-S-SUB 4.375%/VAR 20-PRP | 1 400 000.00 | 1 100 800.40 | 0.10 |
| EUR	BAYER AG-REG-S-SUB 2.375%/VAR 19-12.11.79 | 4 300 000.00 | 3 985 885.00 | 0.35 |
| EUR	BAYER AG-REG-S-SUB 3.750/VAR 14-01.07.74 | 1 700 000.00 | 1 647 966.40 | 0.14 |
| EUR	CASTOR SPA-REG-S 3M EURIBOR+525BP 22-15.02.29 | 2 128 000.00 | 2 028 486.21 | 0.18 |
| EUR	CPI PROPERTY GROUP SA-REG-S-SUB 4.875%/VAR 19-PRP | 2 550 000.00 | 1 064 306.25 | 0.09 |
| EUR	ENBW ENERGIE BADEN-WUERTTEMBERG-REG-S 1.375%/VAR 21-31.08.81 | 2 700 000.00 | 2 087 056.80 | 0.18 |
| EUR	ENEL SPA-REG-S-SUB 3.375%/VAR 18-PRP | 5 780 000.00 | 5 245 350.00 | 0.46 |
| EUR	GOLDEN GOOSE SPA-REG-S 3M EURIBOR+487.5BP 21-14.05.27 | 9 885 000.00 | 9 625 518.75 | 0.84 |
| EUR	HEIMSTADEN BOSTAD AB-REG-S-SUB 2.625%/VAR 21-PRP | 2 400 000.00 | 1 200 000.00 | 0.10 |
| EUR	ITALMATCH CHEMICALS SPA-REG-S 3M EURIBOR+550BP 23-06.02.28 | 1 955 000.00 | 1 878 266.25 | 0.16 |
| EUR	KAPLA HOLDING SAS-REG-S 3M EURIBOR+550BP 23-15.07.27 | 1 245 000.00 | 1 246 362.03 | 0.11 |
| EUR	LEASEPLAN CORPORATION NV-REG-S-SUB 7.375%/VAR 19-PRP | 5 430 000.00 | 5 216 492.40 | 0.45 |
| EUR	LIBERTY MUTUAL GROUP INC-REG-S-SUB 3.625%/VAR 19-23.05.59 | 3 460 000.00 | 3 165 900.00 | 0.28 |
| EUR	NOVO BANCO SA-REG-S 6.822%/VAR 21-15.09.23 | 7 600 000.00 | 7 504 772.00 | 0.65 |
| EUR	ROSSINI SARL-REG-S 3M EURIBOR+387.5BP 19-30.10.25 | 2 100 000.00 | 2 079 000.00 | 0.18 |
| EUR	TELEFONICA EUROPE BV-REG-S-SUB 3.875%/VAR 18-PRP | 5 600 000.00 | 5 168 038.40 | 0.45 |
| EUR	TELEFONICA EUROPE BV-REG-S-SUB 4.375%/VAR 19-PRP | 6 900 000.00 | 6 720 876.00 | 0.59 |
| EUR	UNIBAIL-RODAMCO SE-REG-S-SUB 2.125%/VAR 18-PRP | 3 400 000.00 | 2 890 244.80 | 0.25 |
| EUR	UNITED GROUP BV-REG-S 3M EURIBOR+487.5BP 22-01.02.29 | 2 990 000.00 | 2 492 165.00 | 0.22 |
| EUR	VODAFONE GROUP PLC-REG-S-SUB 4.200%/VAR 18-03.10.78 | 1 045 000.00 | 952 204.00 | 0.08 |
| Total EUR |  | 82 020 587.77 | 7.14 |
| Total Anleihen, variabler Zins |  | 82 020 587.77 | 7.14 |
| Wandelanleihen, variabler Zins |  |  |  |
| EUR |  |  |  |
| EUR	BANCO BILBALO VIZCAYA ARGENT-REG-S-SUB 5.875%/VAR 18-PRP | 5 200 000.00 | 4 945 428.80 | 0.43 |
| EUR	BANK OF IRELAND GROUP PLC-REG-S-SUB COCO 7.500%/VAR 20-PRP | 1 980 000.00 | 1 910 581.20 | 0.17 |
| EUR	BANK OF IRELAND GROUP PLC-REG-S-SUB COCO 6.000%/VAR 20-PRP | 3 780 000.00 | 3 439 800.00 | 0.30 |
| Total EUR |  | 10 295 810.00 | 0.90 |
| Total Wandelanleihen, variabler Zins | 10 295 810.00 | 0.90 |
| Total Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden | 1 084 358 790.92 | 94.44 |
| Wertpapiere und Geldmarktinstrumente, die an einem anderen geregelten Markt gehandelt werden |  |  |
| Medium-Term Notes, variabler Zins |  |  |
| USD |  |  |
| USD	INTESA SANPAOLO SPA-144A-SUB 7.700%/VAR 15-PRP	1 615 000.00 | 1 363 857.06 | 0.12 |
| Total USD | 1 363 857.06 | 0.12 |
| Total Medium-Term Notes, variabler Zins | 1 363 857.06 | 0.12 |
| Total Wertpapiere und Geldmarktinstrumente, die an einem anderen geregelten Markt gehandelt werden | 1 363 857.06 | 0.12 |

UBS (Lux) Bond Fund – Euro High Yield (EUR)
Jahresbericht und geprüfter Jahresabschluss per 31. März 2023
| Bezeichnung | Anzahl/ | Bewertung in EUR | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |

OGAW/Andere OGA im Sinne des Artikels 41 (1) e) des abgeänderten luxemburgischen Gesetzes vom 17. Dezember 2010
Investment Fonds, open end
| Irland |  |
| --- | --- |
| EUR | UBS (IRL) SELECT MONEY MARKET FUND-EUR-S-DIST | 597.85 | 5 978 500.00 | 0.52 |
| Total Irland | 5 978 500.00 | 0.52 |
| Total Investment Fonds, open end | 5 978 500.00 | 0.52 |
| Total OGAW/Andere OGA im Sinne des Artikels 41 (1) e) des abgeänderten luxemburgischen Gesetzes vom 17. Dezember 2010 | 5 978 500.00 | 0.52 |
| Total des Wertpapierbestandes | 1 091 701 147.98 | 95.08 |


### Derivative Instrumente
Derivative Instrumente, die nicht an einer offiziellen Börse oder einem anderen geregelten Markt gehandelt werden
Credit-Default-Swaps*
| EUR | ICE//ITRX EUROPE S38 V1 CDI PAY 1.00000% 23-20.12.27 | -250 000 000.00 | -2 420 333.33 | -0.21 |
| --- | --- | --- | --- | --- |
| EUR | CITI/ALGSCO CREDIT DEFAULT SWAP REC 5.00000% 22-20.12.26 | 2 000 000.00 | 259 465.98 | 0.02 |
| EUR | CITI/ALGSCO CREDIT DEFAULT SWAP REC 5.00000% 21-20.12.26 | 3 000 000.00 | 389 198.97 | 0.04 |
| EUR | GS/INTERNATIONAL GAME TECHNOLOG CREDIT DEFAULT SWAP REC 5.00000% 22-20.06.27 | 5 000 000.00 | 600 295.94 | 0.05 |
| EUR | ICE/ITRX XOVER EUROPE S38 V1 CDI REC 5.00000% 22-20.12.27 | 50 000 000.00 | 1 874 883.34 | 0.17 |
| EUR | JPMORGAN/UNITED GROUP BV CREDIT DEFAULT SWAP REC 5.00000% 22-20.12.27 | 4 500 000.00 | -814 271.95 | -0.07 |
| EUR | JPMORGAN/UNITED GROUP BV CREDIT DEFAULT SWAP REC 5.00000% 22-20.12.25 | 5 000 000.00 | -519 179.11 | -0.05 |
| Total Credit-Default-Swaps | -629 940.16 | -0.05 |
| Total Derivative Instrumente, die nicht an einer offiziellen Börse oder einem anderen geregelten Markt gehandelt werden | -629 940.16 | -0.05 |
| Total Derivative Instrumente | -629 940.16 | -0.05 |
| Devisenterminkontrakte |  |  |
| Gekaufte Währung/ Gekaufter Betrag/Verkaufte Währung/Verkaufter Betrag/Fälligkeitsdatum |  |  |

| CAD | 22 661 100.00 | EUR | 15 408 988.84 | 18.4.2023 | -5 808.53 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| AUD | 58 985 400.00 | EUR | 36 669 692.15 | 18.4.2023 | -317 637.97 | -0.03 |
| GBP | 13 997 000.00 | EUR | 15 848 691.36 | 18.4.2023 | 73 024.90 | 0.01 |
| EUR | 72 681 824.58 | GBP | 64 190 000.00 | 18.4.2023 | -334 890.90 | -0.03 |
| JPY | 5 902 962 200.00 | EUR | 41 098 868.09 | 18.4.2023 | -217 498.53 | -0.02 |
| HKD | 87 114 800.00 | EUR | 10 360 304.91 | 18.4.2023 | -145 735.69 | -0.01 |
| SGD | 42 492 000.00 | EUR | 29 486 075.44 | 18.4.2023 | -79 388.58 | -0.01 |
| CHF | 30 507 900.00 | EUR | 31 178 901.13 | 18.4.2023 | -418 914.93 | -0.04 |
| USD | 303 137 800.00 | EUR | 283 648 323.68 | 18.4.2023 | -4 848 276.65 | -0.42 |
| EUR | 58 659 505.39 | USD | 62 690 000.00 | 18.4.2023 | 1 002 641.26 | 0.09 |
| CNH | 81 700 000.00 | EUR | 11 052 021.20 | 18.4.2023 | -98 107.71 | -0.01 |
| EUR | 455 510.12 | SGD | 649 700.00 | 18.4.2023 | 5 883.73 | 0.00 |
| EUR | 417 413.54 | GBP | 365 600.00 | 18.4.2023 | 1 540.18 | 0.00 |
| JPY | 69 452 800.00 | EUR | 496 881.86 | 18.4.2023 | -15 881.73 | 0.00 |
| EUR | 224 852.94 | CAD | 327 700.00 | 18.4.2023 | 2 109.02 | 0.00 |
| EUR | 4 254 059.39 | USD | 4 496 300.00 | 18.4.2023 | 118 749.80 | 0.01 |
| EUR | 493 983.01 | AUD | 788 900.00 | 18.4.2023 | 7 792.60 | 0.00 |
| EUR | 229 208.29 | CAD | 334 400.00 | 18.4.2023 | 1 910.26 | 0.00 |
| EUR | 442 743.21 | CHF | 436 800.00 | 18.4.2023 | 2 333.94 | 0.00 |
| EUR | 515 807.39 | AUD | 822 100.00 | 18.4.2023 | 9 156.19 | 0.00 |
| EUR | 635 773.88 | JPY | 89 493 700.00 | 18.4.2023 | 15 979.12 | 0.00 |
| EUR | 141 442.70 | HKD | 1 184 600.00 | 18.4.2023 | 2 543.47 | 0.00 |
| EUR | 322 731.75 | SGD | 462 300.00 | 18.4.2023 | 2 795.97 | 0.00 |
| EUR | 164 611.00 | CNH | 1 209 200.00 | 18.4.2023 | 2 487.72 | 0.00 |
| USD | 6 040 000.00 | EUR | 5 622 984.83 | 18.4.2023 | -67 912.90 | -0.01 |
| EUR | 2 346 324.32 | GBP | 2 055 000.00 | 18.4.2023 | 8 742.92 | 0.00 |
| EUR | 294 424.29 | GBP | 260 000.00 | 18.4.2023 | -1 328.10 | 0.00 |
| EUR | 286 322.80 | CAD | 423 700.00 | 18.4.2023 | -1 674.14 | 0.00 |
| EUR | 565 446.54 | SGD | 815 500.00 | 18.4.2023 | 1 077.88 | 0.00 |
| EUR | 5 213 755.94 | USD | 5 629 200.00 | 18.4.2023 | 36 502.48 | 0.01 |
| EUR | 171 907.74 | CNH | 1 274 300.00 | 18.4.2023 | 1 056.19 | 0.00 |
| EUR | 451 323.52 | GBP | 400 000.00 | 18.4.2023 | -3 680.16 | 0.00 |
| USD | 4 253 200.00 | EUR | 3 899 744.33 | 18.4.2023 | 11 982.81 | 0.00 |
| SGD | 592 200.00 | EUR | 410 078.71 | 18.4.2023 | -245.33 | 0.00 |
| GBP | 191 200.00 | EUR | 215 971.74 | 18.4.2023 | 1 520.02 | 0.00 |
| CAD | 316 100.00 | EUR | 212 704.39 | 18.4.2023 | 2 154.79 | 0.00 |
| EUR | 3 667 450.28 | USD | 3 971 900.00 | 18.4.2023 | 14 438.66 | 0.00 |
| Total Devisenterminkontrakte | -5 230 557.94 | -0.46 |
|  |  |  |
| Bankguthaben, Sicht- und Fristgelder und andere liquide Mittel | 47 591 006.76** | 4.14 |
| Kontokorrentkredit und andere kurzfristige Verbindlichkeiten | -2 694 473.02 | -0.23 |
| Andere Aktiva und Passiva | 17 463 202.18 | 1.52 |
| Total des Nettovermögens | 1 148 200 385.80 | 100.00 |
| * Nominal positiv: der Subfonds ist «Receiver», Nominal negativ: der Subfonds ist «Payer». ** Zum 31. März 2023 wurden gegenüber JP Morgan Bankguthaben in Höhe von EUR 1 100 000.00 als Sicherheit eingesetzt. |  |  |

UBS (Lux) Bond Fund – Euro High Yield (EUR) Jahresbericht und geprüfter Jahresabschluss per 31. März 2023