# UBS (Lux) Equity SICAV
– German High Dividend (EUR)
| Three-year comparison |  |
| --- | --- |
|  | ISIN | 31.5.2020 |  | 31.5.2019 | 31.5.2018 |
| Net assets in EUR |  | 47 939 606.88 |  | 67 244 113.91 | 95 133 949.69 |
| Class K-1-acc 1 | LU0783236630 |  |  |  |  |
| Shares outstanding |  | - |  | - | 0.5000 |
| Net asset value per share in EUR |  | - |  | - | 6 271 329.46 |
| Issue and redemption price per share in EUR 2 |  | - |  | - | 6 271 329.46 |
| Class P-acc | LU0775052292 |  |  |  |  |
| Shares outstanding |  | 67 619.9820 |  | 87 566.8810 | 99 953.6960 |
| Net asset value per share in EUR |  | 166.60 |  | 180.74 | 198.85 |
| Issue and redemption price per share in EUR 2 |  | 166.15 |  | 180.56 | 198.85 |
| Class (CHF hedged) P-acc | LU0775053266 |  |  |  |  |
| Shares outstanding |  | 35 637.2700 |  | 45 767.0120 | 61 962.0370 |
| Net asset value per share in CHF |  | 162.08 |  | 176.10 | 194.16 |
| Issue and redemption price per share in CHF 2 |  | 161.64 |  | 175.92 | 194.16 |
| Class P-dist | LU0775052615 |  |  |  |  |
| Shares outstanding |  | 51 177.3090 |  | 63 245.8100 | 82 659.8900 |
| Net asset value per share in EUR |  | 154.39 |  | 168.76 | 187.28 |
| Issue and redemption price per share in EUR 2 |  | 153.97 |  | 168.59 | 187.28 |
| Class (CHF hedged) P-dist | LU0797316337 |  |  |  |  |
| Shares outstanding |  | 25 328.5750 |  | 29 906.4110 | 41 456.1920 |
| Net asset value per share in CHF |  | 150.30 |  | 164.52 | 182.92 |
| Issue and redemption price per share in CHF 2 |  | 149.89 |  | 164.36 | 182.92 |
| Class Q-acc | LU1240785987 |  |  |  |  |
| Shares outstanding |  | 33 184.6880 |  | 59 324.7720 | 78 450.0500 |
| Net asset value per share in EUR |  | 107.69 |  | 115.93 | 126.55 |
| Issue and redemption price per share in EUR 2 |  | 107.40 |  | 115.81 | 126.55 |
| Class (CHF hedged) Q-acc | LU1240785714 |  |  |  |  |
| Shares outstanding |  | 79 368.0390 |  | 102 699.5130 | 138 138.0050 |
| Net asset value per share in CHF |  | 105.92 |  | 114.20 | 124.93 |
| Issue and redemption price per share in CHF 2 |  | 105.63 |  | 114.09 | 124.93 |
| Class Q-dist | LU1240786019 |  |  |  |  |
| Shares outstanding |  | 24 615.5440 |  | 33 079.3580 | 36 475.2110 |
| Net asset value per share in EUR |  | 100.67 |  | 110.04 | 122.11 |
| Issue and redemption price per share in EUR 2 |  | 100.40 |  | 109.93 | 122.11 |
| Class (CHF hedged) Q-dist | LU1240785805 |  |  |  |  |
| Shares outstanding |  | 63 499.8700 |  | 84 582.4710 | 96 432.1060 |
| Net asset value per share in CHF |  | 99.07 |  | 108.43 | 120.54 |
| Issue and redemption price per share in CHF 2 |  | 98.80 |  | 108.32 | 120.54 |
| 1  The share class K-1-acc was in circulation until 18.12.2018. 2  See note 1 |  |  |  |  |  |
| Performance |  |  |  |  |  |
|  |  | Currency | 2019/2020 | 2018/2019 | 2017/2018 |
| Class K-1-acc 1 |  | EUR | - | - | 4.7% |
| Class P-acc |  | EUR | -8.0% | -9.2% | 3.8% |
| Class (CHF hedged) P-acc |  | CHF | -8.1% | -9.4% | 3.4% |
| Class P-dist |  | EUR | -8.0% | -9.2% | 3.8% |
| Class (CHF hedged) P-dist |  | CHF | -8.1% | -9.4% | 3.4% |
| Class Q-acc |  | EUR | -7.3% | -8.5% | 4.6% |
| Class (CHF hedged) Q-acc |  | CHF | -7.4% | -8.7% | 4.2% |
| Class Q-dist |  | EUR | -7.3% | -8.5% | 4.6% |
| Class (CHF hedged) Q-dist |  | CHF | -7.4% | -8.7% | 4.2% |

1 
The share class K-1-acc was in circulation until 18.12.2018. Due to this fact, there is no data for the calculation of the performance available. Historical performance is no indicator of current or future performance.
The performance data does not take account of any commissions and costs charged when subscribing and redeeming shares. The performance data were not audited.
The subfund has no benchmark.
UBS (Lux) Equity SICAV – German High Dividend (EUR)
Annual report and audited financial statements as of 31 May 2020

## Report of the Portfolio Manager
In the financial year, from 1 June 2019 to 31 May 2020, the broader German equity market was slightly negative. Volatility increased and market sentiment weakened sig- nificantly since we saw the development of the Covid-19 outbreak initially in China and now reaching most conti- nents. At present it is not possible to assess the detailed impact of the emerging risk on the companies in our portfolio but there is growing concern about the impact on the world economy. There was a significant correction in the financial markets in February and March followed by a strong market rebound in April and May.
In the financial year, the subfund performed negatively with a continued focus on German companies with good quality and attractive dividend yields. Exposure to the Information Technology sector supported performance, while Financial Services contributed negatively. The main positive contributors on a stock level were Deutsche Börse, Bayer and Merck. Negative contribution came from Aurelius, Deutsche Pfandbriefbank and Tui. Some of the portfolio companies delayed, reduced or omitted dividend payments for 2019. The Board and the Man- ager continue to watch the efforts of governments to contain the spread of the virus and monitor the eco- nomic impact, if any, on the companies in our portfolio.

## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
Germany	90.39
France	1.87
Luxembourg	0.81
Economic Breakdown as a % of net assets	
Internet, software & IT services	13.11
| Insurance | 12.34 |
| --- | --- |
| Chemicals | 11.56 |
| Finance & holding companies | 8.58 |
| Telecommunications | 7.86 |
| Vehicles | 6.59 |
| Traffic & transportation | 5.91 |
| Real Estate | 4.82 |
| Various capital goods | 4.63 |
| Electronics & semiconductors | 4.24 |
| Energy & water supply | 3.49 |
| Pharmaceuticals, cosmetics & medical products | 3.46 |
| Aerospace industry | 1.87 |
| Food & soft drinks | 1.19 |
| Textiles, garments & leather goods | 1.10 |
| Lodging, catering & leisure | 0.82 |
| Banks & credit institutions | 0.77 |
| Miscellaneous services | 0.73 |
| Total | 93.07 |

UBS (Lux) Equity SICAV – German High Dividend (EUR) Annual report and audited financial statements as of 31 May 2020

## Statement of Net Assets
Assets	31.5.2020
EUR
Investments in securities, cost	40 684 684.36
| Investments in securities, unrealized appreciation (depreciation) | 	3 931 329.07	 |
| --- | --- |
| Total investments in securities (Note 1) | 44 616 013.43 |
| Cash at banks, deposits on demand and deposit accounts | 1 086 175.46 |
| Receivable on securities sales (Note 1) | 1 765 677.63 |
| Receivable on subscriptions | 128 148.61 |
| Receivable on dividends | 90 033.28 |
| Other receivables | 684 627.36 |
| Unrealized gain (loss) on forward foreign exchange contracts (Note 1) | -354 054.26 |
| Total Assets | 48 016 621.51 |
|  |  |
| Liabilities |  |
| Payable on redemptions | -37 585.78 |
| Provisions for flat fee (Note 2) | -27 103.04 |
| Provisions for taxe d’abonnement (Note 3) | -3 885.22 |
| Provisions for other commissions and fees (Note 2) | 	-8 440.59	 |
| Total provisions | -39 428.85 |
| Total Liabilities | -77 014.63 |
|  |  |
| Net assets at the end of the financial year | 47 939 606.88 |
| Statement of Operations | EUR |
| Income | 1.6.2019-31.5.2020 |
| Interest on liquid assets | 345.07 |
| Dividends | 1 057 451.98 |
| Income on securities lending (Note 16) | 168 709.00 |
| Other income (Note 4) | 13 395.69 |
| Total income | 1 239 901.74 |
|  |  |
| Expenses |  |
| Flat fee (Note 2) | -887 672.54 |
| Taxe d’abonnement (Note 3) | -28 411.90 |
| Cost on securities lending (Note 16) | -67 483.60 |
| Other commissions and fees (Note 2) | -8 440.59 |
| Interest on cash and bank overdraft | -4 342.51 |
| Total expenses | -996 351.14 |
|  |  |
| Net income (loss) on investments | 243 550.60 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | 3 283 263.69 |
| Realized gain (loss) on forward foreign exchange contracts | 1 379 116.46 |
| Realized gain (loss) on foreign exchange | 453 227.85 |
| Total realized gain (loss) | 5 115 608.00 |
|  |  |
| Net realized gain (loss) of the financial year | 5 359 158.60 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | -7 048 474.14 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | -385 998.18 |
| Total changes in unrealized appreciation (depreciation) | -7 434 472.32 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | -2 075 313.72 |

UBS (Lux) Equity SICAV – German High Dividend (EUR)
Annual report and audited financial statements as of 31 May 2020
| Statement of Changes in Net Assets |  |
| --- | --- |
|  |  | EUR |
|  |  | 1.6.2019-31.5.2020 |
| Net assets at the beginning of the financial year |  | 67 244 113.91 |
| Subscriptions |  | 3 019 269.93 |
| Redemptions |  | 	-19 946 944.29	 |
| Total net subscriptions (redemptions) |  | -16 927 674.36 |
| Dividend paid |  | -301 518.95 |
| Net income (loss) on investments |  | 243 550.60 |
| Total realized gain (loss) |  | 5 115 608.00 |
| Total changes in unrealized appreciation (depreciation) |  | 	-7 434 472.32	 |
| Net increase (decrease) in net assets as a result of operations |  | -2 075 313.72 |
| Net assets at the end of the financial year |  | 47 939 606.88 |
| Changes in the Number of Shares outstanding |  |  |
|  |  | 1.6.2019-31.5.2020 |
| Class |  | P-acc |
| Number of shares outstanding at the beginning of the financial year |  | 87 566.8810 |
| Number of shares issued |  | 7 926.9360 |
| Number of shares redeemed |  | -27 873.8350 |
| Number of shares outstanding at the end of the financial year |  | 67 619.9820 |
| Class |  | (CHF hedged) P-acc |
| Number of shares outstanding at the beginning of the financial year |  | 45 767.0120 |
| Number of shares issued |  | 615.4920 |
| Number of shares redeemed |  | -10 745.2340 |
| Number of shares outstanding at the end of the financial year |  | 35 637.2700 |
| Class |  | P-dist |
| Number of shares outstanding at the beginning of the financial year |  | 63 245.8100 |
| Number of shares issued |  | 3 112.7070 |
| Number of shares redeemed |  | -15 181.2080 |
| Number of shares outstanding at the end of the financial year |  | 51 177.3090 |
| Class |  | (CHF hedged) P-dist |
| Number of shares outstanding at the beginning of the financial year |  | 29 906.4110 |
| Number of shares issued |  | 548.8780 |
| Number of shares redeemed |  | -5 126.7140 |
| Number of shares outstanding at the end of the financial year |  | 25 328.5750 |
| Class |  | Q-acc |
| Number of shares outstanding at the beginning of the financial year |  | 59 324.7720 |
| Number of shares issued |  | 887.4270 |
| Number of shares redeemed |  | -27 027.5110 |
| Number of shares outstanding at the end of the financial year |  | 33 184.6880 |
| Class |  | (CHF hedged) Q-acc |
| Number of shares outstanding at the beginning of the financial year |  | 102 699.5130 |
| Number of shares issued |  | 3 605.0220 |
| Number of shares redeemed |  | -26 936.4960 |
| Number of shares outstanding at the end of the financial year |  | 79 368.0390 |
| Class |  | Q-dist |
| Number of shares outstanding at the beginning of the financial year |  | 33 079.3580 |
| Number of shares issued |  | 2 314.8520 |
| Number of shares redeemed |  | -10 778.6660 |
| Number of shares outstanding at the end of the financial year |  | 24 615.5440 |
| Class |  | (CHF hedged) Q-dist |
| Number of shares outstanding at the beginning of the financial year |  | 84 582.4710 |
| Number of shares issued |  | 1 332.4830 |
| Number of shares redeemed |  | -22 415.0840 |
| Number of shares outstanding at the end of the financial year |  | 63 499.8700 |
| Annual Distribution 1 |  |  |
| UBS (Lux) Equity SICAV – German High Dividend (EUR)	Ex-Date | Pay-Date | Currency	Amount per share |
| P-dist	1.8.2019 | 6.8.2019 | EUR	1.32 |
| (CHF hedged) P-dist	1.8.2019 | 6.8.2019 | CHF	1.26 |
| Q-dist	1.8.2019 | 6.8.2019 | EUR	1.74 |
| (CHF hedged) Q-dist	1.8.2019 | 6.8.2019 | CHF	1.69 |
| 1  See note 5 |  |  |

UBS (Lux) Equity SICAV – German High Dividend (EUR) Annual report and audited financial statements as of 31 May 2020

## Statement of Investments in Securities and other Net Assets as of 31 May 2020
| Description | Quantity/ | Valuation in 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 |  |  |  |
| Bearer shares |  |  |  |
| France |  |  |  |
| EUR	AIRBUS EUR1 | 15 812.00 | 896 540.40 | 1.87 |
| Total France |  | 896 540.40 | 1.87 |
| Germany |  |  |  |
| EUR	AMADEUS FIRE AG NPV | 3 484.00 | 351 884.00 | 0.74 |
| EUR	AURELIUS EQUITY OP NPV | 21 984.00 | 349 325.76 | 0.73 |
| EUR	COMMERZBANK AG NPV | 105 622.00 | 369 782.62 | 0.77 |
| EUR	DEUTSCHE PFAND AG NPV | 91 024.00 | 564 348.80 | 1.18 |
| EUR	DWS GROUP SE NPV | 20 831.00 | 704 816.89 | 1.47 |
| EUR	HELLA GMBH & CO.KG NPV | 15 796.00 | 554 439.60 | 1.16 |
| EUR	MERCK KGAA NPV | 16 095.00 | 1 660 199.25 | 3.46 |
| EUR	SAP AG ORD NPV | 36 030.00 | 4 089 405.00 | 8.53 |
| EUR	SILTRONIC AG NPV | 6 237.00 | 546 984.90 | 1.14 |
| EUR	SOFTWARE AG NPV | 28 675.00 | 997 316.50 | 2.08 |
| EUR	SUEDZUCKER AG NPV | 42 524.00 | 571 947.80 | 1.19 |
| EUR	WIRECARD AG NPV | 6 455.00 | 610 384.80 | 1.27 |
| Total Germany |  | 11 370 835.92 | 23.72 |
| Luxembourg |  |  |  |
| EUR	CORESTATE CAPHLDG NPV | 21 461.00 | 389 087.93 | 0.81 |
| Total Luxembourg |  | 389 087.93 | 0.81 |
| Total Bearer shares |  | 12 656 464.25 | 26.40 |
| Preference shares |  |  |  |
| Germany |  |  |  |
| EUR	SIXT SE NON VTG PRF NPV | 14 122.00 | 694 096.30 | 1.45 |
| EUR	VOLKSWAGEN AG NON VTG PRF NPV | 14 791.00 | 1 959 807.50 | 4.09 |
| Total Germany |  | 2 653 903.80 | 5.54 |
| Total Preference shares |  | 2 653 903.80 | 5.54 |
| Registered shares |  |  |  |
| Germany |  |  |  |
| EUR	ALLIANZ SE NPV(REGD)(VINKULIERT) | 23 666.00 | 3 853 298.12 | 8.04 |
| EUR	BASF SE NPV | 33 797.00 | 1 644 055.07 | 3.43 |
| EUR	BAYER AG NPV (REGD) | 52 825.00 | 3 207 534.00 | 6.69 |
| EUR	DAIMLER AG ORD NPV(REGD) | 19 255.00 | 642 731.90 | 1.34 |
| EUR	DEUTSCHE BOERSE AG NPV(REGD) | 16 595.00 | 2 454 400.50 | 5.12 |
| EUR	DEUTSCHE POST AG NPV(REGD) | 76 387.00 | 2 137 308.26 | 4.46 |
| EUR	DEUTSCHE TELEKOM NPV(REGD) | 265 662.00 | 3 765 758.85 | 7.85 |
| EUR	E.ON SE NPV | 175 949.00 | 1 672 571.19 | 3.49 |
| EUR	EVONIK INDUSTRIES NPV | 31 249.00 | 692 165.35 | 1.44 |
| EUR	FREENET AG NPV (REGD) | 37 890.00 | 590 136.75 | 1.23 |
| EUR	HUGO BOSS AG NPV (REGD) | 21 556.00 | 528 984.24 | 1.10 |
| EUR	INFINEON TECHNOLOG AG NPV (REGD) | 78 884.00 | 1 487 436.70 | 3.10 |
| EUR	LEG IMMOBILIEN AG NPV | 17 487.00 | 1 959 942.96 | 4.09 |
| EUR	MUENCHENER RUECKVE NPV(REGD) | 10 070.00 | 2 060 322.00 | 4.30 |
| EUR	SIEMENS AG NPV(REGD) | 22 513.00 | 2 218 205.89 | 4.63 |
| EUR	TUI AG NPV (REGD) | 80 576.00 | 390 793.60 | 0.82 |
| Total Germany |  | 29 305 645.38 | 61.13 |
| Total Registered shares |  | 29 305 645.38 | 61.13 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 44 616 013.43 | 93.07 |
| Total investments in securities |  | 44 616 013.43 | 93.07 |
| Forward Foreign Exchange contracts |  |  |  |
| Forward Foreign Exchange contracts (Purchase/Sale) |  |  |  |

| CHF | 22 002 000.00 | EUR | 20 938 249.01 | 23.6.2020 | -345 487.30 | -0.72 |
| --- | --- | --- | --- | --- | --- | --- |
| CHF | 609 200.00 | EUR | 573 661.66 | 23.6.2020 | -3 481.20 | -0.01 |
| CHF | 794 100.00 | EUR | 748 837.99 | 23.6.2020 | -5 600.46 | -0.01 |
| EUR | 240 026.94 | CHF | 255 200.00 | 23.6.2020 | 1 172.62 | 0.00 |
| CHF | 922 500.00 | EUR | 864 208.29 | 23.6.2020 | -794.84 | 0.00 |
| CHF | 459 400.00 | EUR | 429 838.30 | 23.6.2020 | 136.92 | 0.00 |
| Total Forward Foreign Exchange contracts (Purchase/Sale) | -354 054.26 | -0.74 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 1 086 175.46 | 2.27 |
| Other assets and liabilities | 2 591 472.25 | 5.40 |
| Total net assets | 47 939 606.88 | 100.00 |

UBS (Lux) Equity SICAV – German High Dividend (EUR)
Annual report and audited financial statements as of 31 May 2020

Translation (ENDE, 2020-05-31):
# UBS (Lux) Equity SICAV
– Emerging Markets High Dividend (USD)
| Wichtigste Daten |  |
| --- | --- |
|  | ISIN | 14.6.2019 | 31.5.2019 | 31.5.2018 |
| Nettovermögen in USD |  | 153 084 411.41 | 202 447 616.03 | 294 575 430.59 |
| Klasse I-B-acc | LU1081985753 |  |  |  |
| Aktien im Umlauf |  | 9 064.6150 | 9 064.6150 | 26 846.8610 |
| Nettoinventarwert pro Aktie in USD |  | 100.05 | 98.92 | 101.26 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 100.05 | 98.92 | 101.26 |
| Klasse I-X-dist | LU0883523192 |  |  |  |
| Aktien im Umlauf |  | 130 122.4070 | 491 771.4250 | 606 269.7390 |
| Nettoinventarwert pro Aktie in USD |  | 85.60 | 84.63 | 89.91 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 85.60 | 84.63 | 89.91 |
| Klasse P-acc | LU0625543631 |  |  |  |
| Aktien im Umlauf |  | 571 876.8660 | 575 085.2390 | 695 732.4820 |
| Nettoinventarwert pro Aktie in USD |  | 93.77 | 92.78 | 96.94 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 93.77 | 92.78 | 96.94 |
| Klasse (CHF hedged) P-acc | LU1081987023 |  |  |  |
| Aktien im Umlauf |  | 193 375.9270 | 194 267.9980 | 249 273.4630 |
| Nettoinventarwert pro Aktie in CHF |  | 81.09 | 80.34 | 86.87 |
| Ausgabe- und Rücknahmepreis pro Aktie in CHF 1 |  | 81.09 | 80.34 | 86.87 |
| Klasse (EUR hedged) P-acc | LU1081987536 |  |  |  |
| Aktien im Umlauf |  | 213 096.5870 | 214 498.2010 | 296 659.6150 |
| Nettoinventarwert pro Aktie in EUR |  | 82.76 | 82.00 | 88.50 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 1 |  | 82.76 | 82.00 | 88.50 |
| Klasse (CHF hedged) P-dist | LU0669577131 |  |  |  |
| Aktien im Umlauf |  | 142 821.1090 | 144 313.6160 | 185 749.2050 |
| Nettoinventarwert pro Aktie in CHF |  | 77.09 | 76.38 | 83.92 |
| Ausgabe- und Rücknahmepreis pro Aktie in CHF 1 |  | 77.09 | 76.38 | 83.92 |
| Klasse P-mdist | LU0625543805 |  |  |  |
| Aktien im Umlauf |  | 37 004.6730 | 37 155.8430 | 43 101.6820 |
| Nettoinventarwert pro Aktie in USD |  | 63.99 | 63.32 | 69.52 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 63.99 | 63.32 | 69.52 |
| Klasse Q-acc | LU0847991816 |  |  |  |
| Aktien im Umlauf |  | 187 516.0220 | 402 681.8640 | 471 078.7160 |
| Nettoinventarwert pro Aktie in USD |  | 94.99 | 93.94 | 97.20 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 94.99 | 93.94 | 97.20 |
| Klasse (CHF hedged) Q-acc | LU1240782026 |  |  |  |
| Aktien im Umlauf |  | 81 908.2420 | 82 319.7130 | 190 353.4920 |
| Nettoinventarwert pro Aktie in CHF |  | 111.23 | 110.16 | 117.93 |
| Ausgabe- und Rücknahmepreis pro Aktie in CHF 1 |  | 111.23 | 110.16 | 117.93 |
| Klasse (EUR hedged) Q-acc | LU1081988344 |  |  |  |
| Aktien im Umlauf |  | 40 390.2950 | 42 158.5470 | 101 033.9560 |
| Nettoinventarwert pro Aktie in EUR |  | 86.75 | 85.92 | 91.81 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 1 |  | 86.75 | 85.92 | 91.81 |
| Klasse (CHF hedged) Q-dist | LU1240782372 |  |  |  |
| Aktien im Umlauf |  | 70 380.1320 | 70 460.1320 | 163 070.1170 |
| Nettoinventarwert pro Aktie in CHF |  | 104.75 | 103.75 | 114.10 |
| Ausgabe- und Rücknahmepreis pro Aktie in CHF 1 |  | 104.75 | 103.75 | 114.10 |
| 1  Siehe Erläuterung 1 |  |  |  |  |


## Struktur des Wertpapierbestandes
Da der Subfonds UBS (Lux) Equity SICAV – Emerging Markets High Dividend (USD) per 14. Juni 2019 in den Subfonds UBS (Lux) Equity SICAV – Global Emerging Markets Opportunity (USD) fusioniert wurde, gibt es zum Ende der Berichtsperiode weder einen Wertpapierbestand noch eine Struktur des Wertpapierbestandes. Siehe Erläuterung 12.
UBS (Lux) Equity SICAV – Emerging Markets High Dividend (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020
| Ertrags- und Aufwandsrechnung |  |
| --- | --- |
|  | USD |
| Erträge | 1.6.2019-31.5.2020 |
| Zinsertrag aus liquiden Mitteln | 531.50 |
| Dividenden | 973 603.67 |
| Sonstige Erträge (Erläuterung 4) | 174 113.50 |
| Total Erträge | 1 148 248.67 |
|  |  |
| Aufwendungen |  |
| Pauschale Verwaltungskommission (Erläuterung 2) | -99 616.62 |
| Abonnementsabgabe (Erläuterung 3) | -467.97 |
| Sonstige Kommissionen und Gebühren (Erläuterung 2) | -12 225.47 |
| Zinsaufwand aus liquiden Mitteln und Kontokorrentkredit | -2 829.34 |
| Total Aufwendungen | -115 139.40 |
|  |  |
| Nettoerträge (-verluste) aus Anlagen | 1 033 109.27 |
|  |  |
| Realisierte Gewinne (Verluste) (Erläuterung 1) |  |
| Realisierter Kursgewinn (-verlust) aus marktbewerteten Wertpapieren ausser Optionen | -434 995.54 |
| Realisierter Kursgewinn (-verlust) aus Devisenterminkontrakten | 772 951.55 |
| Realisierter Währungsgewinn (-verlust) | -83 199.62 |
| Total der realisierten Gewinne (Verluste) | 254 756.39 |
|  |  |
| Realisierter Nettogewinn (-verlust) des Geschäftsjahres | 1 287 865.66 |
|  |  |
| Veränderungen der nicht realisierten Werterhöhung (-minderung) (Erläuterung 1) |  |
| Nicht realisierte Werterhöhung (-minderung) marktbewerteter Wertpapiere ausser Optionen | 1 317 726.43 |
| Nicht realisierte Werterhöhung (-minderung) von Devisenterminkontrakten | -111 603.91 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | 1 206 122.52 |
|  |  |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | 2 493 988.18 |


## Veränderung des Nettovermögens
1.6.2019-31.5.2020
USD
Nettovermögen zu Beginn des Geschäftsjahres	202 447 616.03
Rücknahmen	204 941 604.21
Total Rücknahmen	-204 941 604.21
Nettoerträge (-verluste) aus Anlagen	1 033 109.27
Total der realisierten Gewinne (Verluste)	254 756.39
Total der Veränderungen der nicht realisierten Werterhöhung (-minderung)		1 206 122.52	
Nettovermögen am Ende des Geschäftsjahres	0.00
Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit	2 493 988.18
UBS (Lux) Equity SICAV – Emerging Markets High Dividend (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020
| Entwicklung der Aktien im Umlauf |  |
| --- | --- |
|  | 1.6.2019-31.5.2020 |
| Klasse | I-B-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 9 064.6150 |
| Anzahl der ausgegebenen Aktien | 0.0000 |
| Anzahl der zurückgegebenen Aktien | -9 064.6150 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 0.0000 |
| Klasse | I-X-dist |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 491 771.4250 |
| Anzahl der ausgegebenen Aktien | 0.0000 |
| Anzahl der zurückgegebenen Aktien | -491 771.4250 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 0.0000 |
| Klasse | P-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 575 085.2390 |
| Anzahl der ausgegebenen Aktien | 0.0000 |
| Anzahl der zurückgegebenen Aktien | -575 085.2390 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 0.0000 |
| Klasse | (CHF hedged) P-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 194 267.9980 |
| Anzahl der ausgegebenen Aktien | 0.0000 |
| Anzahl der zurückgegebenen Aktien | -194 267.9980 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 0.0000 |
| Klasse | (EUR hedged) P-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 214 498.2010 |
| Anzahl der ausgegebenen Aktien | 0.0000 |
| Anzahl der zurückgegebenen Aktien | -214 498.2010 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 0.0000 |
| Klasse | (CHF hedged) P-dist |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 144 313.6160 |
| Anzahl der ausgegebenen Aktien | 0.0000 |
| Anzahl der zurückgegebenen Aktien | -144 313.6160 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 0.0000 |
| Klasse | P-mdist |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 37 155.8430 |
| Anzahl der ausgegebenen Aktien | 0.0000 |
| Anzahl der zurückgegebenen Aktien | -37 155.8430 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 0.0000 |
| Klasse | Q-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 402 681.8640 |
| Anzahl der ausgegebenen Aktien | 0.0000 |
| Anzahl der zurückgegebenen Aktien | -402 681.8640 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 0.0000 |
| Klasse | (CHF hedged) Q-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 82 319.7130 |
| Anzahl der ausgegebenen Aktien | 0.0000 |
| Anzahl der zurückgegebenen Aktien | -82 319.7130 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 0.0000 |
| Klasse | (EUR hedged) Q-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 42 158.5470 |
| Anzahl der ausgegebenen Aktien | 0.0000 |
| Anzahl der zurückgegebenen Aktien | -42 158.5470 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 0.0000 |
| Klasse | (CHF hedged) Q-dist |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 70 460.1320 |
| Anzahl der ausgegebenen Aktien | 0.0000 |
| Anzahl der zurückgegebenen Aktien | -70 460.1320 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 0.0000 |

UBS (Lux) Equity SICAV – Emerging Markets High Dividend (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020