# UBS (Lux) Bond SICAV – USD Corporates (USD)
| Three-year comparison |  |
| --- | --- |
|  | ISIN | 31.5.2021 | 31.5.2020 | 31.5.2019 |
| Net assets in USD |  | 471 435 415.69 | 424 732 587.49 | 576 063 449.24 |
| Class F-acc | LU0396366626 |  |  |  |
| Shares outstanding |  | 1 192 139.8470 | 1 751 380.8470 | 2 373 735.8470 |
| Net asset value per share in USD |  | 22.72 | 21.78 | 19.77 |
| Issue and redemption price per share in USD 1 |  | 22.72 | 21.78 | 19.73 |
| Class I-A1-acc | LU0396367277 |  |  |  |
| Shares outstanding |  | 138 597.8710 | 190 416.2140 | 155 460.6170 |
| Net asset value per share in USD |  | 164.11 | 157.53 | 143.18 |
| Issue and redemption price per share in USD 1 |  | 164.11 | 157.53 | 142.89 |
| Class I-A3-acc | LU0396367608 |  |  |  |
| Shares outstanding |  | 6 927.4140 | 5 135.4140 | 617 118.1300 |
| Net asset value per share in USD |  | 134.33 | 128.77 | 116.90 |
| Issue and redemption price per share in USD 1 |  | 134.33 | 128.77 | 116.67 |
| Class I-B-acc 2 | LU0396367863 |  |  |  |
| Shares outstanding |  | - | - | 7 719.7620 |
| Net asset value per share in USD |  | - | - | 169.82 |
| Issue and redemption price per share in USD 1 |  | - | - | 169.48 |
| Class I-B-dist 3 | LU2249863197 |  |  |  |
| Shares outstanding |  | 80 000.0000 | - | - |
| Net asset value per share in USD |  | 97.83 | - | - |
| Issue and redemption price per share in USD 1 |  | 97.83 | - | - |
| Class (EUR hedged) I-B-dist 4 | LU0876650895 |  |  |  |
| Shares outstanding |  | - | - | 440 000.0000 |
| Net asset value per share in EUR |  | - | - | 93.03 |
| Issue and redemption price per share in EUR 1 |  | - | - | 92.84 |
| Class I-X-acc | LU0396368085 |  |  |  |
| Shares outstanding |  | 58 184.0660 | 72 351.6110 | 72 375.5380 |
| Net asset value per share in USD |  | 172.76 | 165.01 | 149.23 |
| Issue and redemption price per share in USD 1 |  | 172.76 | 165.01 | 148.93 |
| Class P-acc | LU0172069584 |  |  |  |
| Shares outstanding |  | 5 005 569.8310 | 5 214 639.9190 | 5 187 714.6880 |
| Net asset value per share in USD |  | 21.29 | 20.58 | 18.83 |
| Issue and redemption price per share in USD 1 |  | 21.29 | 20.58 | 18.79 |
| Class (CHF hedged) P-acc | LU0776291220 |  |  |  |
| Shares outstanding |  | 47 186.8550 | 37 732.6290 | 40 668.2070 |
| Net asset value per share in CHF |  | 119.04 | 116.58 | 110.32 |
| Issue and redemption price per share in CHF 1 |  | 119.04 | 116.58 | 110.10 |
| Class P-mdist 5 | LU0849272793 |  |  |  |
| Shares outstanding |  | 79 730.9070 | - | - |
| Net asset value per share in USD |  | 97.55 | - | - |
| Issue and redemption price per share in USD 1 |  | 97.55 | - | - |
| Class Q-acc | LU0396366972 |  |  |  |
| Shares outstanding |  | 731 658.7800 | 530 980.7760 | 270 590.5040 |
| Net asset value per share in USD |  | 190.46 | 183.09 | 166.64 |
| Issue and redemption price per share in USD 1 |  | 190.46 | 183.09 | 166.31 |
| Class (CHF hedged) Q-acc | LU1240777026 |  |  |  |
| Shares outstanding |  | 106 878.8290 | 166 858.3640 | 123 168.2090 |
| Net asset value per share in CHF |  | 115.62 | 112.61 | 106.00 |
| Issue and redemption price per share in CHF 1 |  | 115.62 | 112.61 | 105.79 |
| Class (EUR hedged) Q-acc | LU0848113352 |  |  |  |
| Shares outstanding |  | 136 633.0200 | 76 724.5840 | 963 947.2130 |
| Net asset value per share in EUR |  | 121.91 | 118.41 | 111.13 |
| Issue and redemption price per share in EUR 1 |  | 121.91 | 118.41 | 110.91 |
| Class U-X-acc | LU0396368242 |  |  |  |
| Shares outstanding |  | 8 426.0000 | 8 536.0000 | 8 740.0000 |
| Net asset value per share in USD |  | 12 902.82 | 12 323.89 | 11 145.31 |
| Issue and redemption price per share in USD 1 |  | 12 902.82 | 12 323.89 | 11 123.02 |
| 1  See note 1 2  The share class I-B-acc was in circulation until 7.8.2019 3  First NAV: 19.1.2021 4  The share class (EUR hedged) I-B-dist was in circulation until 31.5.2019 5  First NAV: 15.9.2020 |  |  |  |  |

UBS (Lux) Bond SICAV – USD Corporates (USD)
Annual report and audited financial statements as of 31 May 2021
| Performance |  |
| --- | --- |
|  | Currency | 2020/2021 | 2019/2020 | 2018/2019 |
| Class F-acc | USD | 4.3% | 10.4% | 7.1% |
| Class I-A1-acc | USD | 4.2% | 10.0% | 7.2% |
| Class I-A3-acc | USD | 4.3% | 10.2% | 7.3% |
| Class I-B-acc 1 | USD | - | - | 7.6% |
| Class I-B-dist 2 | USD | - | - | - |
| Class (EUR hedged) I-B-dist 3 | EUR | - | - | 4.6% |
| Class I-X-acc | USD | 4.7% | 10.6% | 7.7% |
| Class P-acc | USD | 3.4% | 9.5% | 6.2% |
| Class (CHF hedged) P-acc | CHF | 2.1% | 5.9% | 2.8% |
| Class P-mdist 2 | USD | - | - | - |
| Class Q-acc | USD | 4.0% | 10.1% | 6.8% |
| Class (CHF hedged) Q-acc | CHF | 2.7% | 6.4% | 3.4% |
| Class (EUR hedged) Q-acc | EUR | 3.0% | 6.8% | 3.8% |
| Class U-X-acc | USD | 4.7% | 10.6% | 7.7% |
| Benchmark: Bloomberg Barclays US Corporate Investment Grade Index | USD | 3.6% | 10.0% | 7.4% |
| Bloomberg Barclays US Corporate Investment Grade Index (hedged EUR) | EUR | 2.4% | 7.4% | 4.2% |
| Bloomberg Barclays US Corporate Investment Grade Index (hedged CHF) | CHF | 2.2% | 6.9% | 3.8% |

1 
The share class I-B-acc was in circulation until 7.8.2019. Due to this fact, there is no data for the calculation of the performance available.
2 
Due to the recent launch, there is no data for the calculation of the performance available.
3 
The share class (EUR hedged) I-B-dist was in circulation until 31.5.2019. 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.

## Report of the Portfolio Manager
In the reporting year, from 1 June 2020 to 31 May 2021, US Treasury yields increased particularly later in the period as the macroeconomic conditions improved and expectations for fiscal stimulus increased. The Fed maintained the Fed funds rate at very low levels and indicated accommodative monetary policy would remain over the course of the reporting period. US investment grade corporate credit spreads finished the period lower, with spreads tightening over the course of the reporting periods. Investors took advantage of rising US Treasury yields as an entry point as corporate credit was strongly in demand for most of the reporting period experiencing net positive inflows for the reporting year.
The subfund delivered a positive performance during the reporting period. Income and the tightening of credit spreads over the period were the primary drivers of performance, more than offsetting the negative effect from a rise in US Treasury yields. The subfund has fol- lowed a diversified approach, investing across a range of industries and issuers in the corporate bond market. The option-adjusted duration of the subfund at the end of the reporting period was lower than a year prior finishing at 8.1 years. Spread management added to performance for the subfund as sector allocation and security selection were both drivers of performance.

## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
| United States | 74.75 |
| --- | --- |
| United Kingdom | 3.57 |
| The Netherlands | 3.13 |
| France | 2.04 |
| Australia | 1.96 |
| Ireland | 1.94 |
| Canada | 1.55 |
| Norway | 1.50 |
| Cayman Islands | 0.86 |
| Guernsey | 0.66 |
| Bermuda | 0.64 |
| Luxembourg | 0.61 |
| Saudi Arabia | 0.47 |
| Japan | 0.44 |
| Italy | 0.35 |
| China | 0.35 |
| Spain | 0.26 |
| Brazil | 0.22 |
| Total | 95.30 |

Economic Breakdown as a % of net assets	
| Banks & credit institutions | 19.26 |
| --- | --- |
| Finance & holding companies | 17.93 |
| Energy & water supply | 7.88 |
| Telecommunications | 6.36 |
| Petroleum | 4.55 |
| Traffic & transportation | 3.70 |
| Pharmaceuticals, cosmetics & medical products | 3.51 |
| Electrical devices & components | 3.03 |
| Countries & central governments | 2.96 |
| Internet, software & IT services | 2.44 |
| Insurance | 2.34 |
| Graphic design, publishing & media | 2.11 |
| Healthcare & social services | 2.06 |
| Electronics & semiconductors | 1.95 |
| Computer hardware & network equipment providers | 1.85 |
| Aerospace industry | 1.83 |
| Retail trade, department stores | 1.42 |
| Tobacco & alcohol | 1.20 |
| Real Estate | 1.13 |
| Building industry & materials | 1.08 |
| Mining, coal & steel | 0.84 |
| Non-ferrous metals | 0.84 |
| Vehicles | 0.80 |
| Mortgage & funding institutions | 0.74 |
| Investment funds | 0.61 |
| Biotechnology | 0.61 |
| Miscellaneous consumer goods | 0.50 |
| Food & soft drinks | 0.36 |
| Miscellaneous services | 0.34 |
| Precious metals & stones | 0.33 |
| Miscellaneous unclassified companies | 0.31 |
| Chemicals | 0.22 |
| Miscellaneous trading companies | 0.21 |
| Total | 95.30 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Annual report and audited financial statements as of 31 May 2021

## Statement of Net Assets
Assets	31.5.2021
USD
Investments in securities, cost	427 287 068.46
| Investments in securities, unrealized appreciation (depreciation) | 	22 006 250.32	 |
| --- | --- |
| Total investments in securities (Note 1) | 449 293 318.78 |
| Cash at banks, deposits on demand and deposit accounts | 19 419 483.02 |
| Other liquid assets (Margins) | 138 898.49 |
| Receivable on subscriptions | 377 707.99 |
| Interest receivable on securities | 4 261 086.15 |
| Total Assets | 473 490 494.43 |
|  |  |
| Liabilities |  |
| Unrealized loss on financial futures (Note 1) | -32 281.25 |
| Unrealized loss on forward foreign exchange contracts (Note 1) | -194 913.99 |
| Payable on securities purchases (Note 1) | -998 940.00 |
| Payable on redemptions | -459 103.88 |
| Provisions for flat fee (Note 2) | -337 736.22 |
| Provisions for taxe d’abonnement (Note 3) | -27 444.07 |
| Provisions for other commissions and fees (Note 2) | 	-4 659.33	 |
| Total provisions | -369 839.62 |
| Total Liabilities | -2 055 078.74 |
|  |  |
| Net assets at the end of the financial year | 471 435 415.69 |
| Statement of Operations | USD |
| Income | 1.6.2020-31.5.2021 |
| Interest on liquid assets | 2 229.44 |
| Interest on securities | 16 902 236.92 |
| Income on securities lending (Note 16) | 38 512.10 |
| Other income (Note 4) | 1 305 808.85 |
| Total income | 18 248 787.31 |
|  |  |
| Expenses |  |
| Flat fee (Note 2) | -2 758 923.69 |
| Taxe d’abonnement (Note 3) | -172 061.90 |
| Cost on securities lending (Note 16) | -15 404.84 |
| Other commissions and fees (Note 2) | -40 783.82 |
| Interest on cash and bank overdraft | -46 134.81 |
| Total expenses | -3 033 309.06 |
|  |  |
| Net income (loss) on investments | 15 215 478.25 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | 4 462 788.94 |
| Realized gain (loss) on options | 40 000.00 |
| Realized gain (loss) on financial futures | 691 502.12 |
| Realized gain (loss) on forward foreign exchange contracts | 3 375 268.19 |
| Realized gain (loss) on foreign exchange | 160 391.66 |
| Total realized gain (loss) | 8 729 950.91 |
|  |  |
| Net realized gain (loss) of the financial year | 23 945 429.16 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | -4 238 472.90 |
| Unrealized appreciation (depreciation) on financial futures | -32 281.25 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | -769 568.48 |
| Total changes in unrealized appreciation (depreciation) | -5 040 322.63 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | 18 905 106.53 |

UBS (Lux) Bond SICAV – USD Corporates (USD)
Annual report and audited financial statements as of 31 May 2021
| Changes in Net Assets |  |
| --- | --- |
|  | USD |
|  | 1.6.2020-31.5.2021 |
| Net assets at the beginning of the financial year | 424 732 587.49 |
| Subscriptions | 227 772 586.96 |
| Redemptions | 	-199 885 699.34	 |
| Total net subscriptions (redemptions) | 27 886 887.62 |
| Dividend paid | -89 165.95 |
| Net income (loss) on investments | 15 215 478.25 |
| Total realized gain (loss) | 8 729 950.91 |
| Total changes in unrealized appreciation (depreciation) | 	-5 040 322.63	 |
| Net increase (decrease) in net assets as a result of operations | 18 905 106.53 |
| Net assets at the end of the financial year | 471 435 415.69 |
| Changes in the Number of Shares outstanding |  |
|  | 1.6.2020-31.5.2021 |
| Class | F-acc |
| Number of shares outstanding at the beginning of the financial year | 1 751 380.8470 |
| Number of shares issued | 146 507.0000 |
| Number of shares redeemed | -705 748.0000 |
| Number of shares outstanding at the end of the financial year | 1 192 139.8470 |
| Class | I-A1-acc |
| Number of shares outstanding at the beginning of the financial year | 190 416.2140 |
| Number of shares issued | 181 973.2000 |
| Number of shares redeemed | -233 791.5430 |
| Number of shares outstanding at the end of the financial year | 138 597.8710 |
| Class | I-A3-acc |
| Number of shares outstanding at the beginning of the financial year | 5 135.4140 |
| Number of shares issued | 2 575.0000 |
| Number of shares redeemed | -783.0000 |
| Number of shares outstanding at the end of the financial year | 6 927.4140 |
| Class | I-B-dist |
| Number of shares outstanding at the beginning of the financial year | 0.0000 |
| Number of shares issued | 80 000.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the financial year | 80 000.0000 |
| Class | I-X-acc |
| Number of shares outstanding at the beginning of the financial year | 72 351.6110 |
| Number of shares issued | 8 876.5510 |
| Number of shares redeemed | -23 044.0960 |
| Number of shares outstanding at the end of the financial year | 58 184.0660 |
| Class | P-acc |
| Number of shares outstanding at the beginning of the financial year | 5 214 639.9190 |
| Number of shares issued | 1 747 427.6570 |
| Number of shares redeemed | -1 956 497.7450 |
| Number of shares outstanding at the end of the financial year | 5 005 569.8310 |
| Class | (CHF hedged) P-acc |
| Number of shares outstanding at the beginning of the financial year | 37 732.6290 |
| Number of shares issued | 16 004.9550 |
| Number of shares redeemed | -6 550.7290 |
| Number of shares outstanding at the end of the financial year | 47 186.8550 |
| Class | P-mdist |
| Number of shares outstanding at the beginning of the financial year | 0.0000 |
| Number of shares issued | 109 575.2900 |
| Number of shares redeemed | -29 844.3830 |
| Number of shares outstanding at the end of the financial year | 79 730.9070 |
| Class | Q-acc |
| Number of shares outstanding at the beginning of the financial year | 530 980.7760 |
| Number of shares issued | 548 837.2510 |
| Number of shares redeemed | -348 159.2470 |
| Number of shares outstanding at the end of the financial year | 731 658.7800 |
| Class | (CHF hedged) Q-acc |
| Number of shares outstanding at the beginning of the financial year | 166 858.3640 |
| Number of shares issued | 14 341.9920 |
| Number of shares redeemed | -74 321.5270 |
| Number of shares outstanding at the end of the financial year | 106 878.8290 |
| Class | (EUR hedged) Q-acc |
| Number of shares outstanding at the beginning of the financial year | 76 724.5840 |
| Number of shares issued | 133 938.6270 |
| Number of shares redeemed | -74 030.1910 |
| Number of shares outstanding at the end of the financial year | 136 633.0200 |
| Class | U-X-acc |
| Number of shares outstanding at the beginning of the financial year | 8 536.0000 |
| Number of shares issued | 631.0000 |
| Number of shares redeemed | -741.0000 |
| Number of shares outstanding at the end of the financial year | 8 426.0000 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Annual report and audited financial statements as of 31 May 2021
| Monthly Distribution 1 |  |
| --- | --- |
| UBS (Lux) Bond SICAV – USD Corporates (USD) | Ex-Date | Pay-Date | Currency | Amount per share |
| P-mdist | 15.10.2020 | 20.10.2020 | USD | 0.17 |
| P-mdist | 16.11.2020 | 19.11.2020 | USD | 0.17 |
| P-mdist | 15.12.2020 | 18.12.2020 | USD | 0.17 |
| P-mdist | 15.1.2021 | 20.1.2021 | USD | 0.17 |
| P-mdist | 15.2.2021 | 18.2.2021 | USD | 0.17 |
| P-mdist | 15.3.2021 | 18.3.2021 | USD | 0.17 |
| P-mdist | 15.4.2021 | 20.4.2021 | USD | 0.16 |
| P-mdist | 17.5.2021 | 20.5.2021 | USD | 0.32 |
| 1  See note 5 |  |  |  |  |

UBS (Lux) Bond SICAV – USD Corporates (USD)
Annual report and audited financial statements as of 31 May 2021

## Statement of Investments in Securities and other Net Assets as of 31 May 2021
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Transferable securities and money market instruments listed on an official stock exchange Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	ABBVIE INC 4.50000% 15-14.05.35 | 4 000 000.00 | 4 742 882.52 | 1.01 |
| USD	AERCAP IRELAND CAP/ GLBL AVIATION TRUST 6.50000% 20-15.07.25 | 2 000 000.00 | 2 342 985.02 | 0.50 |
| USD	ALIBABA GROUP HOLDING LTD 4.00000% 17-06.12.37 | 1 500 000.00 | 1 630 125.00 | 0.35 |
| USD	AMAZON.COM INC 2.50000% 20-03.06.50 | 1 850 000.00 | 1 659 729.81 | 0.35 |
| USD	AMERICAN EXPRESS CO-SUB 3.62500% 14-05.12.24 | 1 500 000.00 | 1 645 278.74 | 0.35 |
| USD	AMERICAN INTERNATIONAL GROUP INC 4.37500% 20-30.06.50 | 1 000 000.00 | 1 156 394.65 | 0.25 |
| USD	AMERICAN INTL GROUP INC 3.40000% 20-30.06.30 | 1 500 000.00 | 1 619 938.88 | 0.34 |
| USD	AMGEN INC 3.15000% 20-21.02.40 | 1 000 000.00 | 1 012 584.51 | 0.21 |
| USD	ANHEUSER-BUSCH COS 4.70000% 19-01.02.36 | 4 750 000.00 | 5 659 261.91 | 1.20 |
| USD	AON CORP 4.60000% 14-14.06.44 | 2 000 000.00 | 2 421 576.34 | 0.51 |
| USD	APPLE INC 1.65000% 20-11.05.30 | 2 000 000.00 | 1 947 296.12 | 0.41 |
| USD	APPLE INC 3.45000% 15-09.02.45 | 2 000 000.00 | 2 139 737.08 | 0.45 |
| USD	AT&T INC 2.75000% 20-01.06.31 | 3 000 000.00 | 3 038 685.63 | 0.64 |
| USD	AT&T INC 3.50000% 20-01.06.41 | 750 000.00 | 752 357.46 | 0.16 |
| USD	AT&T INC 3.65000% 20-01.06.51 | 1 000 000.00 | 998 902.40 | 0.21 |
| USD	AT&T INC 4.30000% 18-15.02.30 | 2 000 000.00 | 2 276 792.70 | 0.48 |
| USD	AT&T INC 4.35000% 13-15.06.45 | 1 500 000.00 | 1 650 743.94 | 0.35 |
| USD	AT&T INC 4.85000% 19-01.03.39 | 1 000 000.00 | 1 177 490.59 | 0.25 |
| USD	AT&T INC 5.15000% 18-15.11.46 | 1 000 000.00 | 1 236 201.48 | 0.26 |
| USD	BARCLAYS PLC-SUB 4.37500% 14-11.09.24 | 2 250 000.00 | 2 464 573.05 | 0.52 |
| USD	BAT CAPITAL CORP 3.22200% 18-15.08.24 | 1 500 000.00 | 1 597 238.51 | 0.34 |
| USD	BERKSHIRE HATHAWAY 4.25000% 19-15.01.49 | 1 500 000.00 | 1 793 558.15 | 0.38 |
| USD	BOEING CO 4.87500% 20-01.05.25 | 3 045 000.00 | 3 420 883.45 | 0.73 |
| USD	BOEING CO 5.04000% 20-01.05.27 | 1 424 000.00 | 1 641 609.00 | 0.35 |
| USD	BP CAPITAL MARKETS AMERICA INC 3.41000% 19-11.02.26 | 2 000 000.00 | 2 203 664.48 | 0.47 |
| USD	BP CAPITAL MARKETS AMERICA INC 3.00000% 20-24.02.50 | 1 000 000.00 | 927 088.56 | 0.20 |
| USD	BRISTOL MYERS SQUIBB CO 4.12500% 20-15.06.39 | 3 000 000.00 | 3 536 857.14 | 0.75 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.87500% 18-15.01.27 | 2 000 000.00 | 2 197 245.78 | 0.47 |
| USD	CCO LLC/CAPITAL 4.20000% 17-15.03.28 | 1 000 000.00 | 1 117 908.44 | 0.24 |
| USD	CCO LLC/CAPITAL 6.38400% 16-23.10.35 | 2 500 000.00 | 3 265 614.92 | 0.69 |
| USD	CENTERPOINT ENERGY INC 4.25000% 18-01.11.28 | 500 000.00 | 566 606.10 | 0.12 |
| USD	CENTURYLINK INC 6.75000% 13-01.12.23 | 1 500 000.00 | 1 652 925.00 | 0.35 |
| USD	CHARTER COMMUNICATIONS OPERATING 3.50000% 21-01.06.41 | 3 250 000.00 | 3 100 547.71 | 0.66 |
| USD	CIGNA CORP 2.40000% 20-15.03.30 | 2 000 000.00 | 2 017 671.10 | 0.43 |
| USD	CITIGROUP INC 3.70000% 16-12.01.26 | 6 250 000.00 | 6 937 375.06 | 1.47 |
| USD	CITIGROUP INC-SUB 6.67500% 13-13.09.43 | 2 000 000.00 | 3 015 713.40 | 0.64 |
| USD	COMCAST CORP 4.60000% 18-15.10.38 | 5 000 000.00 | 6 020 571.55 | 1.28 |
| USD	CREDIT AGRICOLE SA-144A-SUB 4.37500% 15-17.03.25 | 2 000 000.00 | 2 204 748.64 | 0.47 |
| USD	CREDIT SUISSE GROUP AG 4.55000% 16-17.04.26 | 2 750 000.00 | 3 117 603.91 | 0.66 |
| USD	CVS HEALTH CORP 5.05000% 18-25.03.48 | 2 000 000.00 | 2 468 549.74 | 0.52 |
| USD	DTE ENERGY CO 2.95000% 19-01.03.30 | 3 750 000.00 | 3 897 767.18 | 0.83 |
| USD	EBAY INC 4.00000% 12-15.07.42 | 2 000 000.00 | 2 124 984.62 | 0.45 |
| USD	EPR PROPERTIES 4.95000% 18-15.04.28 | 1 500 000.00 | 1 570 769.79 | 0.33 |
| USD	EQT CORP 3.90000% 17-01.10.27 | 2 000 000.00 | 2 135 800.00 | 0.45 |
| USD	EQUINIX INC 1.80000% 20-15.07.27 | 1 000 000.00 | 1 006 092.99 | 0.21 |
| USD	EQUINOR ASA 2.87500% 20-06.04.25 | 3 000 000.00 | 3 218 623.23 | 0.68 |
| USD	ESTEE LAUDER COS INC 4.37500% 15-15.06.45 | 1 000 000.00 | 1 202 829.16 | 0.25 |
| USD	EXELON CORP 4.95000% 16-15.06.35 | 1 750 000.00 | 2 117 386.78 | 0.45 |
| USD	EXPEDIA GROUP INC-144A 2.95000% 21-15.03.31 | 2 500 000.00 | 2 494 357.02 | 0.53 |
| USD	FEDEX CORP 4.55000% 16-01.04.46 | 3 000 000.00 | 3 503 022.66 | 0.74 |
| USD	FORD MOTOR CREDIT CO 3.37500% 20-13.11.25 | 1 500 000.00 | 1 535 700.00 | 0.33 |
| USD	FREEPORT-MCMORAN INC 4.12500% 20-01.03.28 | 1 500 000.00 | 1 565 625.00 | 0.33 |
| USD	GE CAPITAL INTL FUNDING CO 3.37300% 16-15.11.25 | 4 000 000.00 | 4 370 636.44 | 0.93 |
| USD	GENERAL ELECTRIC CO 4.35000% 20-01.05.50 | 1 000 000.00 | 1 139 509.63 | 0.24 |
| USD	GENERAL MOTORS CO 5.00000% 14-01.04.35 | 1 000 000.00 | 1 185 642.64 | 0.25 |
| USD	GENERAL MOTORS FINANCIAL CO INC 4.00000% 16-06.10.26 | 2 250 000.00 | 2 489 612.09 | 0.53 |
| USD	GENERAL MOTORS FINANCIAL CO 3.85000% 18-05.01.28 | 1 000 000.00 | 1 090 026.78 | 0.23 |
| USD	GEORGIA POWER CO 3.70000% 20-30.01.50 | 2 000 000.00 | 2 112 098.30 | 0.45 |
| USD	GILEAD SCIENCES INC 2.60000% 20-01.10.40 | 2 000 000.00 | 1 869 280.00 | 0.40 |
| USD	GOLDMAN SACHS GROUP INC-SUB 6.75000% 07-01.10.37 | 1 750 000.00 | 2 495 898.37 | 0.53 |
| USD	GOLDMAN SACHS GROUP INC 2.60000% 20-07.02.30 | 1 000 000.00 | 1 026 683.71 | 0.22 |
| USD	GOLDMAN SACHS GROUP INC 3.80000% 20-15.03.30 | 1 000 000.00 | 1 114 143.60 | 0.24 |
| USD	GOLDMAN SACHS GROUP INC/THE 3.50000% 16-16.11.26 | 1 000 000.00 | 1 092 602.80 | 0.23 |
| USD	HCA INC 4.75000% 12-01.05.23 | 1 087 000.00 | 1 171 988.02 | 0.25 |
| USD	HCA INC 5.25000% 19-15.06.49 | 1 750 000.00 | 2 154 781.58 | 0.46 |
| USD	HOME DEPOT INC/THE 4.20000% 13-01.04.43 | 1 590 000.00 | 1 880 881.31 | 0.40 |
| USD	HSBC HOLDINGS PLC-SUB 4.37500% 16-23.11.26 | 2 250 000.00 | 2 546 153.30 | 0.54 |
| USD	INTEL CORP 4.60000% 20-25.03.40 | 1 000 000.00 | 1 215 025.50 | 0.26 |
| USD	INTERCONTINENTAL EXCHANGE INC 3.00000% 20-15.06.50 | 1 825 000.00 | 1 728 138.31 | 0.37 |
| USD	INTERNATIONAL BUSINESS MACHINES CORP 4.25000% 19-15.05.49 | 1 000 000.00 | 1 161 269.69 | 0.25 |
| USD	JPMORGAN CHASE & CO-SUB 3.87500% 14-10.09.24 | 3 500 000.00 | 3 835 703.76 | 0.81 |
| USD	KB HOME 7.62500% 15-15.05.23 | 1 500 000.00 | 1 627 500.00 | 0.34 |
| USD	KINROSS GOLD CORP 5.95000% 14-15.03.24 | 3 500 000.00 | 3 941 072.69 | 0.84 |
| USD	KRAFT HEINZ FOODS CO 4.62500% 18-30.01.29 | 1 500 000.00 | 1 696 320.05 | 0.36 |
| USD	KROGER CO 3.87500% 16-15.10.46 | 1 000 000.00 | 1 053 814.33 | 0.22 |
| USD	LINCOLN NATIONAL CORP 4.35000% 18-01.03.48 | 1 000 000.00 | 1 132 978.26 | 0.24 |
| USD	LSEGA FINANCING PLC-144A 3.20000% 21-06.04.41 | 2 000 000.00 | 2 016 023.16 | 0.43 |
| USD	MASCO CORP 4.50000% 17-15.05.47 | 2 000 000.00 | 2 346 377.38 | 0.50 |
| USD	MITSUBISHI UFJ FINANCIAL GRP INC 2.19300% 20-25.02.25 | 2 000 000.00 | 2 087 477.80 | 0.44 |
| USD	MPLX LP 2.65000% 20-15.08.30 | 1 000 000.00 | 993 942.00 | 0.21 |
| USD	MPLX LP 4.87500% 16-01.12.24 | 2 500 000.00 | 2 820 315.03 | 0.60 |
| USD	NATIONAL FUEL GAS CO 2.95000% 21-01.03.31 | 1 000 000.00 | 993 513.89 | 0.21 |
| USD	NATWEST GROUP PLC 4.80000% 16-05.04.26 | 2 000 000.00 | 2 299 804.00 | 0.49 |
| USD	NETFLIX INC 4.87500% 18-15.04.28 | 2 000 000.00 | 2 300 800.00 | 0.49 |
| USD	NORFOLK SOUTHERN CORP 4.10000% 19-15.05.49 | 2 000 000.00 | 2 271 965.10 | 0.48 |
| USD	NVIDIA CORP 2.85000% 20-01.04.30 | 1 000 000.00 | 1 064 571.46 | 0.23 |
| USD	OCCIDENTAL PETROLEUM CORP 2.90000% 19-15.08.24 | 2 500 000.00 | 2 493 750.00 | 0.53 |
| USD	ORACLE CORP 2.80000% 20-01.04.27 | 2 500 000.00 | 2 656 799.17 | 0.56 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Annual report and audited financial statements as of 31 May 2021
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | ORACLE CORP 3.60000% 20-01.04.40 | 3 000 000.00 | 3 055 265.28 | 0.65 |
| USD | ORACLE CORP 3.65000% 21-25.03.41 | 1 000 000.00 | 1 019 422.56 | 0.22 |
| USD | PAYPAL HOLDINGS INC 2.30000% 20-01.06.30 | 2 000 000.00 | 2 024 651.96 | 0.43 |
| USD | PIONEER NATURAL RESOURCES CO 1.90000% 20-15.08.30 | 1 000 000.00 | 941 316.67 | 0.20 |
| USD | PLAINS ALL AMERICAN PIPELINE LP 3.80000% 20-15.09.30 | 1 000 000.00 | 1 052 173.26 | 0.22 |
| USD | PRUDENTIAL FINANCIAL INC 3.93500% 18-07.12.49 | 2 396 000.00 | 2 679 850.96 | 0.57 |
| USD | PUBLIC STORAGE 3.09400% 17-15.09.27 | 2 500 000.00 | 2 731 144.55 | 0.58 |
| USD | QUALCOMM INC 4.30000% 17-20.05.47 | 500 000.00 | 593 057.96 | 0.13 |
| USD | QUANTA SERVICES INC 2.90000% 20-01.10.30 | 2 000 000.00 | 2 058 901.04 | 0.44 |
| USD | RABOBANK NEDERLAND NV-SUB 3.75000% 16-21.07.26 | 1 000 000.00 | 1 101 316.86 | 0.23 |
| USD | RABOBANK NEDERLAND-SUB 4.62500% 13-01.12.23 | 2 250 000.00 | 2 471 361.33 | 0.52 |
| USD | SABINE PASS LIQUEFACTION LLC 5.00000% 17-15.03.27 | 1 750 000.00 | 2 026 801.51 | 0.43 |
| USD | SEAGATE HDD CAYMAN 5.75000% 15-01.12.34 | 1 000 000.00 | 1 120 000.00 | 0.24 |
| USD | SHELL INTERNATIONAL FINANCE BV 4.00000% 16-10.05.46 | 2 000 000.00 | 2 273 948.80 | 0.48 |
| USD | SHERWIN-WILLIAMS CO 4.50000% 17-01.06.47 | 1 500 000.00 | 1 792 813.30 | 0.38 |
| USD | SOUTHWEST AIRLINES CO 3.45000% 17-16.11.27 | 5 000 000.00 | 5 379 116.15 | 1.14 |
| USD | SPECTRA ENERGY PARTNERS LP 4.50000% 15-15.03.45 | 1 000 000.00 | 1 122 850.98 | 0.24 |
| USD | T-MOBILE USA INC 5.37500% 17-15.04.27 | 1 000 000.00 | 1 060 950.00 | 0.22 |
| USD | TELECOM ITALIA SPA-144A 5.30300% 14-30.05.24 | 1 500 000.00 | 1 631 250.00 | 0.35 |
| USD | TELEFONICA EMISIONES SA 5.52000% 19-01.03.49 | 1 000 000.00 | 1 239 972.29 | 0.26 |
| USD | TIME WARNER CABLE LLC 7.30000% 08-01.07.38 | 1 000 000.00 | 1 415 788.23 | 0.30 |
| USD | TOLL BROTHERS FINANCE CORP 4.87500% 15-15.11.25 | 1 250 000.00 | 1 403 587.50 | 0.30 |
| USD | TOTAL CAPITAL INTERNATIONAL SA 3.12700% 20-29.05.50 | 1 000 000.00 | 967 602.79 | 0.20 |
| USD | TRUIST BANK-SUB 3.30000% 16-15.05.26 | 2 000 000.00 | 2 199 727.74 | 0.47 |
| USD | UNITED RENTALS NORTH AMERICA INC 4.00000% 20-15.07.30 | 2 000 000.00 | 2 037 460.00 | 0.43 |
| USD | UNITEDHEALTH GROUP INC 3.95000% 12-15.10.42 | 1 156 000.00 | 1 333 351.43 | 0.28 |
| USD | VALE OVERSEAS LTD 3.75000% 20-08.07.30 | 1 000 000.00 | 1 057 062.50 | 0.22 |
| USD | VERIZON COMMUNICATIONS INC 2.98700% 21-30.10.56 | 2 605 000.00 | 2 320 809.45 | 0.49 |
| USD | VERIZON COMMUNICATIONS INC 2.10000% 21-22.03.28 | 5 000 000.00 | 5 065 661.40 | 1.07 |
| USD | VIRGIN MEDIA SECURED FINANCE PLC-144A 5.50000% 16-15.08.26 | 1 500 000.00 | 1 555 500.00 | 0.33 |
| USD | VIRGINIA ELECTRIC & POWER CO 4.60000% 18-01.12.48 | 2 000 000.00 | 2 480 441.94 | 0.53 |
| USD | VODAFONE GROUP PLC 4.87500% 19-19.06.49 | 1 000 000.00 | 1 204 734.51 | 0.26 |
| USD | WPX ENERGY INC 5.87500% 20-15.06.28 | 650 000.00 | 715 650.00 | 0.15 |
| Total USD |  |  | 251 361 120.00 | 53.32 |
| Total Notes, fixed rate |  | 251 361 120.00 | 53.32 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	GOLDMAN SACHS GROUP INC 2.908%/VAR 17-05.06.23 | 2 000 000.00 | 2 050 858.42 | 0.44 |
| USD	HSBC HOLDINGS PLC 2.099%/VAR 20-04.06.26 | 2 500 000.00 | 2 571 405.87 | 0.55 |
| USD	JPMORGAN CHASE &CO 3.109%/VAR 20-22.04.51 | 1 500 000.00 | 1 477 813.31 | 0.31 |
| USD	MORGAN STANLEY 5.597%/VAR 20-24.03.51 | 2 000 000.00 | 2 860 793.08 | 0.61 |
| USD	WELLS FARGO & CO 2.188%/VAR 20-30.04.26 | 1 500 000.00 | 1 564 039.42 | 0.33 |
| USD	WESTPAC BANKING CORP-SUB 2.668%/VAR 20-15.11.35 | 2 000 000.00 | 1 944 635.40 | 0.41 |
| Total USD |  | 12 469 545.50 | 2.65 |
| Total Notes, floating rate |  | 12 469 545.50 | 2.65 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AIR LEASE CORP 3.00000% 20-01.02.30 | 1 000 000.00 | 995 898.60 | 0.21 |
| USD	BANK OF AMERICA CORP-SUB 4.20000% 14-26.08.24 | 7 000 000.00 | 7 739 138.40 | 1.64 |
| USD	BANK OF AMERICA CORP-SUB 4.18300% 16-25.11.27 | 5 000 000.00 | 5 622 803.10 | 1.19 |
| USD	FORD MOTOR CREDIT CO LLC 4.38900% 16-08.01.26 | 750 000.00 | 798 907.50 | 0.17 |
| USD	MORGAN STANLEY-SUB 4.10000% 13-22.05.23 | 2 500 000.00 | 2 674 732.30 | 0.57 |
| USD	PUBLIC SERVICE ELECTRIC & GAS CO 3.15000% 20-01.01.50 | 2 000 000.00 | 2 046 445.92 | 0.44 |
| USD	SAUDI ARABIAN OIL CO-144A 4.37500% 19-16.04.49 | 2 000 000.00 | 2 225 000.00 | 0.47 |
| Total USD |  | 22 102 925.82 | 4.69 |
| Total Medium term notes, fixed rate |  | 22 102 925.82 | 4.69 |
| Medium term notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 2.496%/3M LIBOR+99BP 20-13.02.31 | 3 000 000.00 | 3 018 710.19 | 0.64 |
| USD	BANK OF AMERICA CORP 2.676%/VAR 20-19.06.41 | 750 000.00 | 708 656.35 | 0.15 |
| USD	MORGAN STANLEY 3.622%/VAR 20-01.04.31 | 2 000 000.00 | 2 202 376.86 | 0.47 |
| USD	WELLS FARGO & CO 2.879%/VAR 19-30.10.30 | 2 000 000.00 | 2 095 148.24 | 0.44 |
| Total USD |  | 8 024 891.64 | 1.70 |
| Total Medium term notes, floating rate |  | 8 024 891.64 | 1.70 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	BALTIMORE GAS & ELECTRIC CO 3.50000% 16-15.08.46 | 1 250 000.00 | 1 327 264.30 | 0.28 |
| USD	BURLINGTON NORTHERN SANTA FE LLC 4.05000% 18-15.06.48 | 2 000 000.00 | 2 309 422.66 | 0.49 |
| USD	CONSOLIDATED EDISON CO OF NEW YORK INC 4.65000% 18-01.12.48 | 1 500 000.00 | 1 816 677.66 | 0.39 |
| USD	DUKE ENERGY CAROLINAS LLC 6.05000% 08-15.04.38 | 925 000.00 | 1 291 227.92 | 0.27 |
| USD	DUKE ENERGY OHIO INC 4.30000% 19-01.02.49 | 2 000 000.00 | 2 366 541.14 | 0.50 |
| USD	EL PASO NATURAL GAS CO 8.37500% 03-15.06.32 | 1 050 000.00 | 1 527 893.11 | 0.32 |
| USD	ENTERPRISE PRODUCTS OPERATING LP 6.87500% 03-01.03.33 | 900 000.00 | 1 245 859.65 | 0.26 |
| USD	PACIFIC GAS AND ELECTRIC CO 4.95000% 20-01.07.50 | 2 500 000.00 | 2 527 413.98 | 0.54 |
| USD	SAN DIEGO GAS & ELECTRIC CO 4.10000% 19-15.06.49 | 1 000 000.00 | 1 155 731.14 | 0.25 |
| USD	SOUTHERN CALIFORNIA EDISON CO 3.65000% 20-01.02.50 | 4 250 000.00 | 4 170 514.59 | 0.89 |
| USD	TIME WARNER ENTERTAINMENT CO L P 8.37500% 93-15.03.23 | 1 300 000.00 | 1 477 620.32 | 0.31 |
| Total USD |  | 21 216 166.47 | 4.50 |
| Total Bonds, fixed rate |  | 21 216 166.47 | 4.50 |

UBS (Lux) Bond SICAV – USD Corporates (USD)
Annual report and audited financial statements as of 31 May 2021
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Bonds, floating rate |  |  |  |
| USD |  |  |  |
| USD	BP CAPITAL MARKETS PLC-SUB 4.875%/VAR 20-PRP | 2 000 000.00 | 2 156 440.00 | 0.46 |
| USD	DEUTSCHE TELEKOM INTL FIN 8.250%/RATING LINKED 00-15.06.30 | 2 750 000.00 | 4 071 391.14 | 0.86 |
| Total USD |  | 6 227 831.14 | 1.32 |
| Total Bonds, floating rate |  | 6 227 831.14 | 1.32 |
| Treasury notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 0.12500% 20-15.12.23 | 14 000 000.00 | 13 966 640.66 | 2.96 |
| Total USD |  | 13 966 640.66 | 2.96 |
| Total Treasury notes, fixed rate |  | 13 966 640.66 | 2.96 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 335 369 121.23 | 71.14 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AKER BP ASA-144A 3.00000% 20-15.01.25 | 2 675 000.00 | 2 792 238.19 | 0.59 |
| USD	AKER BP ASA-144A 3.75000% 20-15.01.30 | 1 000 000.00 | 1 056 321.29 | 0.22 |
| USD	BROADCOM INC 4.11000% 20-15.09.28 | 2 124 000.00 | 2 346 721.58 | 0.50 |
| USD	CARRIER GLOBAL CORP 2.49300% 20-15.02.27 | 2 000 000.00 | 2 100 675.72 | 0.45 |
| USD	CENTENE CORP 3.37500% 20-15.02.30 | 2 500 000.00 | 2 525 000.00 | 0.53 |
| USD	CHENIERE ENERGY INC-144A 4.62500% 20-15.10.28 | 1 000 000.00 | 1 050 000.00 | 0.22 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 8.35000% 16-15.07.46 | 1 000 000.00 | 1 569 518.10 | 0.33 |
| USD	GENERAL MOTORS FINANCIAL CO INC 4.25000% 14-15.05.23 | 2 000 000.00 | 2 136 002.72 | 0.45 |
| USD	GLENCORE FUNDING LLC-144A 4.12500% 19-12.03.24 | 1 500 000.00 | 1 624 158.32 | 0.34 |
| USD	GLP CAPITAL LP / GLP FINANC II INC 5.37500% 14-01.11.23 | 500 000.00 | 545 590.00 | 0.12 |
| USD	GRAPHIC PACKAGING INTERNATIONL INC-144A 3.50000% 20-15.03.28 | 1 000 000.00 | 995 030.00 | 0.21 |
| USD	HARLEY-DAVIDSON FIN.SERV INC-144A 3.35000% 18-15.02.23 | 2 500 000.00 | 2 605 580.95 | 0.55 |
| USD	HCA INC 5.00000% 14-15.03.24 | 2 250 000.00 | 2 508 964.65 | 0.53 |
| USD	JPMORGAN CHASE & CO-SUB 3.62500% 16-01.12.27 | 8 000 000.00 | 8 842 399.52 | 1.88 |
| USD	KKR GROUP FINANCE CO II LLC-144A 5.50000% 13-01.02.43 | 1 150 000.00 | 1 491 291.31 | 0.32 |
| USD	LEVEL 3 FINANCING INC-144A 3.87500% 19-15.11.29 | 2 500 000.00 | 2 652 500.00 | 0.56 |
| USD	LYB INTERNATIONAL FINANCE III LLC 3.62500% 20-01.04.51 | 1 000 000.00 | 1 001 316.27 | 0.21 |
| USD	MERCK & CO INC 3.70000% 15-10.02.45 | 1 380 000.00 | 1 540 332.24 | 0.33 |
| USD	MORGAN STANLEY 3.70000% 14-23.10.24 | 2 000 000.00 | 2 195 544.16 | 0.47 |
| USD	MORGAN STANLEY 3.87500% 14-29.04.24 | 3 500 000.00 | 3 819 959.22 | 0.81 |
| USD	NGPL PIPE CO LLC-144A 7.76800% 07-15.12.37 | 1 000 000.00 | 1 377 933.37 | 0.29 |
| USD	NOVA CHEMICALS CORP-144A 5.25000% 17-01.06.27 | 955 000.00 | 1 021 850.00 | 0.22 |
| USD	NRG ENERGY INC-144A 3.75000% 19-15.06.24 | 425 000.00 | 454 060.21 | 0.10 |
| USD	NXP BV / NXP FUNDING LLC-144A 5.55000% 18-01.12.28 | 4 000 000.00 | 4 853 188.84 | 1.03 |
| USD	PPL CAPITAL FUNDING INC 4.70000% 13-01.06.43 | 2 000 000.00 | 2 369 730.62 | 0.50 |
| USD	SANTOS FINANCE LTD-144A 3.64900% 21-29.04.31 | 3 000 000.00 | 3 013 650.90 | 0.64 |
| USD	SIRIUS XM RADIO INC-144A 4.62500% 19-15.07.24 | 1 500 000.00 | 1 537 500.00 | 0.33 |
| USD	SOCIETE GENERALE SA-144A 4.00000% 17-12.01.27 | 3 000 000.00 | 3 332 743.65 | 0.71 |
| USD	TECK RESOURCES LTD 3.90000% 20-15.07.30 | 1 000 000.00 | 1 068 874.49 | 0.23 |
| USD	TECK RESOURCES LTD 6.12500% 05-01.10.35 | 1 000 000.00 | 1 252 810.21 | 0.27 |
| USD	TEGNA INC-144A 4.75000% 20-15.03.26 | 1 500 000.00 | 1 593 180.00 | 0.34 |
| USD	TRI POINTE HOLDINGS INC 5.87500% 15-15.06.24 | 1 500 000.00 | 1 665 360.00 | 0.35 |
| USD	TRITON CONTAINER INTERNATIONAL LTD-144A 2.05000% 21-15.04.26 | 2 000 000.00 | 2 009 412.00 | 0.43 |
| USD	UNITED TECHNOLOGIES CORP 4.50000% 12-01.06.42 | 3 000 000.00 | 3 587 352.69 | 0.76 |
| USD	UPJOHN INC-144A 1.65000% 20-22.06.25 | 1 000 000.00 | 1 015 349.71 | 0.21 |
| USD	VICI PROPERTIES LP /VCI NTE CO INC-144A 4.12500% 20-15.08.30 | 1 000 000.00 | 1 015 400.00 | 0.22 |
| USD	VISTRA OPERATIONS CO LLC-144A 5.50000% 18-01.09.26 | 1 500 000.00 | 1 548 663.45 | 0.33 |
| USD	VOLKSWAGEN GRP OF AMERICA FINANCE-144A 4.62500% 18-13.11.25 | 1 500 000.00 | 1 713 262.76 | 0.36 |
| USD	WELLS FARGO & CO-SUB 5.60600% 14-15.01.44 | 2 000 000.00 | 2 639 240.36 | 0.56 |
| Total USD |  | 82 468 707.50 | 17.50 |
| Total Notes, fixed rate |  | 82 468 707.50 | 17.50 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BNP PARIBAS-144A 3.052%/VAR 20-13.01.31 | 3 000 000.00 | 3 111 635.55 | 0.66 |
| Total USD |  | 3 111 635.55 | 0.66 |
| Total Notes, floating rate |  | 3 111 635.55 | 0.66 |
| Medium term notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	NATIONAL AUSTRALIA BANK LTD-144A-SUB 3.933%/VAR 19-02.08.34 | 2 000 000.00 | 2 141 820.00 | 0.45 |
| Total USD |  | 2 141 820.00 | 0.45 |
| Total Medium term notes, floating rate |  | 2 141 820.00 | 0.45 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	NEVADA POWER CO 6.65000% 06-01.04.36 | 1 174 000.00 | 1 679 528.65 | 0.36 |
| USD	NGPL PIPECO LLC-144A 4.87500% 17-15.08.27 | 1 500 000.00 | 1 715 409.30 | 0.36 |
| Total USD |  | 3 394 937.95 | 0.72 |
| Total Bonds, fixed rate |  | 3 394 937.95 | 0.72 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 91 117 101.00 | 19.33 |

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

Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market
Notes, fixed rate
| USD |  |
| --- | --- |
| USD | AVOLON HOLDINGS FUNDING LTD-144A 2.75000% 21-21.02.28 | 3 000 000.00 | 2 917 500.00 | 0.62 |
| USD | FOX CORP 4.70900% 20-25.01.29 | 2 000 000.00 | 2 318 809.28 | 0.49 |
| USD | GE CAPITAL FUNDING LLC 4.05000% 21-15.05.27 | 1 000 000.00 | 1 130 992.00 | 0.24 |
| USD | GE CAPITAL FUNDING LLC 4.55000% 21-15.05.32 | 2 000 000.00 | 2 346 865.32 | 0.50 |
| Total USD |  |  | 8 714 166.60 | 1.85 |
| Total Notes, fixed rate |  | 8 714 166.60 | 1.85 |
| Total Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market |  | 8 714 166.60 | 1.85 |
| Recently issued transferable securities and money market instruments |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AES CORP-144A 1.37500% 20-15.01.26 | 2 500 000.00 | 2 471 719.30 | 0.52 |
| USD	AUSTRALIA & NEW ZEALAND BANK-144A-SUB 2.57000% 20-25.11.35 | 2 250 000.00 | 2 159 729.99 | 0.46 |
| USD	HILTON DOMESTIC OPERATING CO INC-144A 3.62500% 21-15.02.32 | 1 000 000.00 | 978 575.00 | 0.21 |
| USD	LITHIA MOTORS INC-144A 3.87500% 21-01.06.29 | 2 500 000.00 | 2 568 400.00 | 0.54 |
| USD	TRITON CONTAINER INTERNATIONAL LTD-144A 1.15000% 21-07.06.24 | 1 000 000.00 | 1 000 350.00 | 0.21 |
| USD	UPJOHN INC-144A 4.00000% 20-22.06.50 | 2 000 000.00 | 2 026 478.66 | 0.43 |
| Total USD |  | 11 205 252.95 | 2.37 |
| Total Notes, fixed rate | 11 205 252.95 | 2.37 |
| Total Recently issued transferable securities and money market instruments | 11 205 252.95 | 2.37 |
| UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 |  |  |
| Investment funds, open end |  |  |
| Luxembourg |  |  |
| USD	UBS (LUX) BOND SICAV - MULTI INCOME (USD)-U-X-ACC	270.00 | 2 887 677.00 | 0.61 |
| Total Luxembourg | 2 887 677.00 | 0.61 |
| Total Investment funds, open end | 2 887 677.00 | 0.61 |
| Total UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 | 2 887 677.00 | 0.61 |
| Total investments in securities | 449 293 318.78 | 95.30 |

| Derivative instruments |  |
| --- | --- |
| Derivative instruments listed on an official stock exchange |
| Financial Futures on bonds |
|  |  |  |  |
| USD	US 10YR TREASURY NOTE FUTURE 21.09.21 | -165.00 | -33 375.00 | -0.01 |
| USD	US ULTRA LONG BOND (CBT) FUTURE 21.09.21 | 35.00 | 1 093.75 | 0.00 |
| Total Financial Futures on bonds |  | -32 281.25 | -0.01 |
| Total Derivative instruments listed on an official stock exchange |  | -32 281.25 | -0.01 |
| Total Derivative instruments |  | -32 281.25 | -0.01 |
| Forward Foreign Exchange contracts |  |  |  |
| Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date |  |  |  |

| EUR | 16 208 000.00 | USD | 19 882 856.05 | 28.6.2021 | -56 963.44 | -0.01 |
| --- | --- | --- | --- | --- | --- | --- |
| CHF | 17 793 400.00 | USD | 19 934 784.59 | 28.6.2021 | -137 963.53 | -0.03 |
| CHF | 189 600.00 | USD | 211 072.39 | 1.6.2021 | -253.47 | 0.00 |
| USD | 211 214.18 | CHF | 189 600.00 | 28.6.2021 | 266.45 | 0.00 |
| Total Forward Foreign Exchange contracts | -194 913.99 | -0.04 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 19 558 381.51 | 4.15 |
| Other assets and liabilities | 2 810 910.64 | 0.60 |
| Total net assets | 471 435 415.69 | 100.00 |

UBS (Lux) Bond SICAV – USD Corporates (USD)
Annual report and audited financial statements as of 31 May 2021

Translation (ENDE, 2021-05-31):
# UBS (Lux) Bond SICAV – USD Corporates (USD)
| Dreijahresvergleich |  |
| --- | --- |
|  | ISIN | 31.5.2021 | 31.5.2020 | 31.5.2019 |
| Nettovermögen in USD |  | 471 435 415.69 | 424 732 587.49 | 576 063 449.24 |
| Klasse F-acc | LU0396366626 |  |  |  |
| Aktien im Umlauf |  | 1 192 139.8470 | 1 751 380.8470 | 2 373 735.8470 |
| Nettoinventarwert pro Aktie in USD |  | 22.72 | 21.78 | 19.77 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 22.72 | 21.78 | 19.73 |
| Klasse I-A1-acc | LU0396367277 |  |  |  |
| Aktien im Umlauf |  | 138 597.8710 | 190 416.2140 | 155 460.6170 |
| Nettoinventarwert pro Aktie in USD |  | 164.11 | 157.53 | 143.18 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 164.11 | 157.53 | 142.89 |
| Klasse I-A3-acc | LU0396367608 |  |  |  |
| Aktien im Umlauf |  | 6 927.4140 | 5 135.4140 | 617 118.1300 |
| Nettoinventarwert pro Aktie in USD |  | 134.33 | 128.77 | 116.90 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 134.33 | 128.77 | 116.67 |
| Klasse I-B-acc 2 | LU0396367863 |  |  |  |
| Aktien im Umlauf |  | - | - | 7 719.7620 |
| Nettoinventarwert pro Aktie in USD |  | - | - | 169.82 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | - | - | 169.48 |
| Klasse I-B-dist 3 | LU2249863197 |  |  |  |
| Aktien im Umlauf |  | 80 000.0000 | - | - |
| Nettoinventarwert pro Aktie in USD |  | 97.83 | - | - |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 97.83 | - | - |
| Klasse (EUR hedged) I-B-dist 4 | LU0876650895 |  |  |  |
| Aktien im Umlauf |  | - | - | 440 000.0000 |
| Nettoinventarwert pro Aktie in EUR |  | - | - | 93.03 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 1 |  | - | - | 92.84 |
| Klasse I-X-acc | LU0396368085 |  |  |  |
| Aktien im Umlauf |  | 58 184.0660 | 72 351.6110 | 72 375.5380 |
| Nettoinventarwert pro Aktie in USD |  | 172.76 | 165.01 | 149.23 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 172.76 | 165.01 | 148.93 |
| Klasse P-acc | LU0172069584 |  |  |  |
| Aktien im Umlauf |  | 5 005 569.8310 | 5 214 639.9190 | 5 187 714.6880 |
| Nettoinventarwert pro Aktie in USD |  | 21.29 | 20.58 | 18.83 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 21.29 | 20.58 | 18.79 |
| Klasse (CHF hedged) P-acc | LU0776291220 |  |  |  |
| Aktien im Umlauf |  | 47 186.8550 | 37 732.6290 | 40 668.2070 |
| Nettoinventarwert pro Aktie in CHF |  | 119.04 | 116.58 | 110.32 |
| Ausgabe- und Rücknahmepreis pro Aktie in CHF 1 |  | 119.04 | 116.58 | 110.10 |
| Klasse P-mdist 5 | LU0849272793 |  |  |  |
| Aktien im Umlauf |  | 79 730.9070 | - | - |
| Nettoinventarwert pro Aktie in USD |  | 97.55 | - | - |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 97.55 | - | - |
| Klasse Q-acc | LU0396366972 |  |  |  |
| Aktien im Umlauf |  | 731 658.7800 | 530 980.7760 | 270 590.5040 |
| Nettoinventarwert pro Aktie in USD |  | 190.46 | 183.09 | 166.64 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 190.46 | 183.09 | 166.31 |
| Klasse (CHF hedged) Q-acc | LU1240777026 |  |  |  |
| Aktien im Umlauf |  | 106 878.8290 | 166 858.3640 | 123 168.2090 |
| Nettoinventarwert pro Aktie in CHF |  | 115.62 | 112.61 | 106.00 |
| Ausgabe- und Rücknahmepreis pro Aktie in CHF 1 |  | 115.62 | 112.61 | 105.79 |
| Klasse (EUR hedged) Q-acc | LU0848113352 |  |  |  |
| Aktien im Umlauf |  | 136 633.0200 | 76 724.5840 | 963 947.2130 |
| Nettoinventarwert pro Aktie in EUR |  | 121.91 | 118.41 | 111.13 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 1 |  | 121.91 | 118.41 | 110.91 |
| Klasse U-X-acc | LU0396368242 |  |  |  |

| Aktien im Umlauf | 8 426.0000 | 8 536.0000 | 8 740.0000 |
| --- | --- | --- | --- |
| Nettoinventarwert pro Aktie in USD | 12 902.82 | 12 323.89 | 11 145.31 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 | 12 902.82 | 12 323.89 | 11 123.02 |
| 1  Siehe Erläuterung 1 2  Die Aktienklasse I-B-acc war bis zum 7.8.2019 im Umlauf 3  Erste NAV 19.1.2021 4  Die Aktienklasse (EUR hedged) I-B-dist war bis zum 31.5.2019 im Umlauf 5  Erste NAV 15.9.2020 |  |  |  |

UBS (Lux) Bond SICAV – USD Corporates (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2021
| Performance |  |
| --- | --- |
|  | Währung | 2020/2021 | 2019/2020 | 2018/2019 |
| Klasse F-acc | USD | 4.3% | 10.4% | 7.1% |
| Klasse I-A1-acc | USD | 4.2% | 10.0% | 7.2% |
| Klasse I-A3-acc | USD | 4.3% | 10.2% | 7.3% |
| Klasse I-B-acc 1 | USD | - | - | 7.6% |
| Klasse I-B-dist 2 | USD | - | - | - |
| Klasse (EUR hedged) I-B-dist 3 | EUR | - | - | 4.6% |
| Klasse I-X-acc | USD | 4.7% | 10.6% | 7.7% |
| Klasse P-acc | USD | 3.4% | 9.5% | 6.2% |
| Klasse (CHF hedged) P-acc | CHF | 2.1% | 5.9% | 2.8% |
| Klasse P-mdist 2 | USD | - | - | - |
| Klasse Q-acc | USD | 4.0% | 10.1% | 6.8% |
| Klasse (CHF hedged) Q-acc | CHF | 2.7% | 6.4% | 3.4% |
| Klasse (EUR hedged) Q-acc | EUR | 3.0% | 6.8% | 3.8% |
| Klasse U-X-acc | USD | 4.7% | 10.6% | 7.7% |
| Benchmark: Bloomberg Barclays US Corporate Investment Grade Index | USD | 3.6% | 10.0% | 7.4% |
| Bloomberg Barclays US Corporate Investment Grade Index (hedged EUR) | EUR | 2.4% | 7.4% | 4.2% |
| Bloomberg Barclays US Corporate Investment Grade Index (hedged CHF) | CHF | 2.2% | 6.9% | 3.8% |

1 
Die Aktienklasse I-B-acc war bis zum 7.8.2019 im Umlauf. Auf Grund dessen liegen keine Daten für die Berechnung der Performance vor.
2 
Auf Grund der Neulancierung liegen keine Daten für die Berechnung der Performance vor.
3 
Die Aktienklasse (EUR hedged) I-B-dist war bis zum 31.5.2019 im Umlauf. Auf Grund dessen liegen keine Daten für die Berechnung der Performance vor.
Die historische Performance stellt keinen Indikator für die laufende oder zukünftige Performance dar.
Die Performancedaten lassen die bei der Ausgabe und Rücknahme der Aktien erhobenen Kommissionen und Kosten unberücksichtigt. Die Performancedaten sind ungeprüft.

## Bericht des Portfolio Managers
Im Berichtsjahr vom 1. Juni 2020 bis zum 31. Mai 2021 stiegen die Renditen von US-Treasuries, vor allem später im Berichtszeitraum, da sich die gesamtwirtschaftliche Lage verbesserte und die Erwartungen an fiskalpolitische Impulse stiegen. Die US-Notenbank hielt ihren Leitzins, die Fed Funds Rate, auf einem sehr niedrigen Niveau und deutete an, dass die expansive Geldpolitik wäh- rend des Berichtszeitraums beibehalten werde. Die Kreditrisikoprämien von US-Unternehmensanleihen mit Investment-Grade-Rating verengten sich während des gesamten Berichtszeitraums und schlossen auf einem tieferen Niveau. Anleger nutzten die steigenden Rendi- ten von US-Treasuries als Einstiegspunkt. Unternehmens- anleihen waren daher im Grossteil des Berichtszeitraums stark gefragt und verzeichneten im Berichtsjahr positive Nettozuflüsse.
Der Teilfonds erzielte im Berichtsjahr eine positives Per- formance. Die wichtigsten Faktoren für die Performance waren Zinserträge und die Verengung der Kreditrisiko- prämien während des Berichtszeitraums. Sie konnten den Effekt der steigenden US-Treasury-Renditen mehr als ausgleichen. Der Teilfonds verfolgte einen diversifizierten Ansatz und investierte am Markt für Unternehmensan- leihen in ein breites Spektrum von Branchen und Emit- tenten. Die optionsbereinigte Duration des Teilfonds war am Ende des Berichtszeitraums mit 8,1 Jahren niedriger als im Vorjahr. Das Spreadmanagement trug positiv zur Wertentwicklung des Teilfonds bei, da sowohl die Sek- torallokation als auch die Titelauswahl vorteilhaft waren.
UBS (Lux) Bond SICAV – USD Corporates (USD)
Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2021

## Struktur des Wertpapierbestandes
Geographische Aufteilung in % des Nettovermögens	
| Vereinigte Staaten | 74.75 |
| --- | --- |
| Grossbritannien | 3.57 |
| Niederlande | 3.13 |
| Frankreich | 2.04 |
| Australien | 1.96 |
| Irland | 1.94 |
| Kanada | 1.55 |
| Norwegen | 1.50 |
| Cayman-Inseln | 0.86 |
| Guernsey | 0.66 |
| Bermuda | 0.64 |
| Luxemburg | 0.61 |
| Saudiarabia | 0.47 |
| Japan | 0.44 |
| Italien | 0.35 |
| China | 0.35 |
| Spanien | 0.26 |
| Brasilien | 0.22 |
| Total | 95.30 |

Wirtschaftliche Aufteilung in % des Nettovermögens	
| Banken & Kreditinstitute | 19.26 |
| --- | --- |
| Finanz- & Beteiligungsgesellschaften | 17.93 |
| Energie- & Wasserversorgung | 7.88 |
| Telekommunikation | 6.36 |
| Erdöl | 4.55 |
| Verkehr & Transport | 3.70 |
| Pharmazeutik, Kosmetik & medizinische Produkte | 3.51 |
| Elektrische Geräte & Komponenten | 3.03 |
| Länder- & Zentralregierungen | 2.96 |
| Internet, Software & IT-Dienste | 2.44 |
| Versicherungen | 2.34 |
| Grafisches Gewerbe, Verlage & Medien | 2.11 |
| Gesundheits- & Sozialwesen | 2.06 |
| Elektronik & Halbleiter | 1.95 |
| Computer & Netzwerkausrüster | 1.85 |
| Flugzeug- & Raumfahrtindustrie | 1.83 |
| Detailhandel, Warenhäuser | 1.42 |
| Tabak & alkoholische Getränke | 1.20 |
| Immobilien | 1.13 |
| Baugewerbe & Baumaterial | 1.08 |
| Bergbau, Kohle & Stahl | 0.84 |
| Nichteisenmetalle | 0.84 |
| Fahrzeuge | 0.80 |
| Pfandbriefinstitute & Refinanzierungsgesellschaften | 0.74 |
| Anlagefonds | 0.61 |
| Biotechnologie | 0.61 |
| Diverse Konsumgüter | 0.50 |
| Nahrungsmittel & Softdrinks | 0.36 |
| Diverse Dienstleistungen | 0.34 |
| Edelmetalle und -steine | 0.33 |
| Diverse nicht klassierte Gesellschaften | 0.31 |
| Chemie | 0.22 |
| Diverse Handelsfirmen | 0.21 |
| Total | 95.30 |


## Nettovermögensaufstellung
Aktiva	31.5.2021
USD
Wertpapierbestand, Einstandswert	427 287 068.46
| Wertpapierbestand, nicht realisierte Werterhöhung (-minderung) | 	22 006 250.32	 |
| --- | --- |
| Total Wertpapierbestand (Erläuterung 1) | 449 293 318.78 |
| Bankguthaben, Sicht- und Fristgelder | 19 419 483.02 |
| Andere liquide Mittel (Margins) | 138 898.49 |
| Forderungen aus Zeichnungen | 377 707.99 |
| Zinsforderungen aus Wertpapieren | 4 261 086.15 |
| Total Aktiva | 473 490 494.43 |
|  |  |
| Passiva |  |
| Nicht realisierter Kursverlust aus Finanzterminkontrakten (Erläuterung 1) | -32 281.25 |
| Nicht realisierter Kursverlust aus Devisenterminkontrakten (Erläuterung 1) | -194 913.99 |
| Verbindlichkeiten aus Wertpapierkäufen (Erläuterung 1) | -998 940.00 |
| Verbindlichkeiten aus Rücknahmen | -459 103.88 |
| Rückstellungen für pauschale Verwaltungskommission (Erläuterung 2) | -337 736.22 |
| Rückstellungen für Abonnementsabgabe (Erläuterung 3) | -27 444.07 |
| Rückstellungen für sonstige Kommissionen und Gebühren (Erläuterung 2) | 	-4 659.33	 |
| Total Rückstellungen für Aufwendungen | -369 839.62 |
| Total Passiva | -2 055 078.74 |
|  |  |
| Nettovermögen am Ende des Geschäftsjahres | 471 435 415.69 |
| Ertrags- und Aufwandsrechnung | USD |
| Erträge | 1.6.2020-31.5.2021 |
| Zinsertrag auf liquide Mittel | 2 229.44 |
| Zinsen auf Wertpapiere | 16 902 236.92 |
| Erträge aus Securities Lending (Erläuterung 16) | 38 512.10 |
| Sonstige Erträge (Erläuterung 4) | 1 305 808.85 |
| Total Erträge | 18 248 787.31 |
|  |  |
| Aufwendungen |  |
| Pauschale Verwaltungskommission (Erläuterung 2) | -2 758 923.69 |
| Abonnementsabgabe (Erläuterung 3) | -172 061.90 |
| Kosten aus Securities Lending (Erläuterung 16) | -15 404.84 |
| Sonstige Kommissionen und Gebühren (Erläuterung 2) | -40 783.82 |
| Zinsaufwand auf liquide Mittel und Kontokorrentkredit | -46 134.81 |
| Total Aufwendungen | -3 033 309.06 |
|  |  |
| Nettoerträge (-verluste) aus Anlagen | 15 215 478.25 |
|  |  |
| Realisierte Gewinne (Verluste) (Erläuterung 1) |  |
| Realisierter Kursgewinn (-verlust) aus marktbewerteten Wertpapieren ausser Optionen | 4 462 788.94 |
| Realisierter Kursgewinn (-verlust) aus Optionen | 40 000.00 |
| Realisierter Kursgewinn (-verlust) aus Finanzterminkontrakten | 691 502.12 |
| Realisierter Kursgewinn (-verlust) aus Devisenterminkontrakten | 3 375 268.19 |
| Realisierter Währungsgewinn (-verlust) | 160 391.66 |
| Total der realisierten Gewinne (Verluste) | 8 729 950.91 |
|  |  |
| Realisierter Nettogewinn (-verlust) des Geschäftsjahres | 23 945 429.16 |
|  |  |
| Veränderungen der nicht realisierten Werterhöhung (-minderung) (Erläuterung 1) |  |
| Nicht realisierte Werterhöhung (-minderung) marktbewerteter Wertpapiere ausser Optionen | -4 238 472.90 |
| Nicht realisierte Werterhöhung (-minderung) von Finanzterminkontrakten | -32 281.25 |
| Nicht realisierte Werterhöhung (-minderung) von Devisenterminkontrakten | -769 568.48 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | -5 040 322.63 |
|  |  |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | 18 905 106.53 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2021
| Veränderung des Nettovermögens |  |
| --- | --- |
|  | USD |
|  | 1.6.2020-31.5.2021 |
| Nettovermögen zu Beginn des Geschäftsjahres | 424 732 587.49 |
| Zeichnungen | 227 772 586.96 |
| Rücknahmen | 	-199 885 699.34	 |
| Total Mittelzufluss (-abfluss) | 27 886 887.62 |
| Ausbezahlte Dividende | -89 165.95 |
| Nettoerträge (-verluste) aus Anlagen | 15 215 478.25 |
| Total der realisierten Gewinne (Verluste) | 8 729 950.91 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | 	-5 040 322.63	 |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | 18 905 106.53 |
| Nettovermögen am Ende des Geschäftsjahres | 471 435 415.69 |
| Entwicklung der Aktien im Umlauf |  |
|  | 1.6.2020-31.5.2021 |
| Klasse | F-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 1 751 380.8470 |
| Anzahl der ausgegebenen Aktien | 146 507.0000 |
| Anzahl der zurückgegebenen Aktien | -705 748.0000 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 1 192 139.8470 |
| Klasse | I-A1-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 190 416.2140 |
| Anzahl der ausgegebenen Aktien | 181 973.2000 |
| Anzahl der zurückgegebenen Aktien | -233 791.5430 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 138 597.8710 |
| Klasse | I-A3-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 5 135.4140 |
| Anzahl der ausgegebenen Aktien | 2 575.0000 |
| Anzahl der zurückgegebenen Aktien | -783.0000 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 6 927.4140 |
| Klasse | I-B-dist |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 0.0000 |
| Anzahl der ausgegebenen Aktien | 80 000.0000 |
| Anzahl der zurückgegebenen Aktien | 0.0000 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 80 000.0000 |
| Klasse | I-X-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 72 351.6110 |
| Anzahl der ausgegebenen Aktien | 8 876.5510 |
| Anzahl der zurückgegebenen Aktien | -23 044.0960 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 58 184.0660 |
| Klasse | P-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 5 214 639.9190 |
| Anzahl der ausgegebenen Aktien | 1 747 427.6570 |
| Anzahl der zurückgegebenen Aktien | -1 956 497.7450 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 5 005 569.8310 |
| Klasse | (CHF hedged) P-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 37 732.6290 |
| Anzahl der ausgegebenen Aktien | 16 004.9550 |
| Anzahl der zurückgegebenen Aktien | -6 550.7290 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 47 186.8550 |
| Klasse | P-mdist |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 0.0000 |
| Anzahl der ausgegebenen Aktien | 109 575.2900 |
| Anzahl der zurückgegebenen Aktien | -29 844.3830 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 79 730.9070 |
| Klasse | Q-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 530 980.7760 |
| Anzahl der ausgegebenen Aktien | 548 837.2510 |
| Anzahl der zurückgegebenen Aktien | -348 159.2470 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 731 658.7800 |
| Klasse | (CHF hedged) Q-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 166 858.3640 |
| Anzahl der ausgegebenen Aktien | 14 341.9920 |
| Anzahl der zurückgegebenen Aktien | -74 321.5270 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 106 878.8290 |
| Klasse | (EUR hedged) Q-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 76 724.5840 |
| Anzahl der ausgegebenen Aktien | 133 938.6270 |
| Anzahl der zurückgegebenen Aktien | -74 030.1910 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 136 633.0200 |
| Klasse | U-X-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 8 536.0000 |
| Anzahl der ausgegebenen Aktien | 631.0000 |
| Anzahl der zurückgegebenen Aktien | -741.0000 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 8 426.0000 |

UBS (Lux) Bond SICAV – USD Corporates (USD)
Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2021
| Monatliche Ausschüttung 1 |  |
| --- | --- |
| UBS (Lux) Bond SICAV – USD Corporates (USD) | Ex-Date | Pay-Date | Währung | Betrag pro Aktie |
| P-mdist | 15.10.2020 | 20.10.2020 | USD | 0.17 |
| P-mdist | 16.11.2020 | 19.11.2020 | USD | 0.17 |
| P-mdist | 15.12.2020 | 18.12.2020 | USD | 0.17 |
| P-mdist | 15.1.2021 | 20.1.2021 | USD | 0.17 |
| P-mdist | 15.2.2021 | 18.2.2021 | USD | 0.17 |
| P-mdist | 15.3.2021 | 18.3.2021 | USD | 0.17 |
| P-mdist | 15.4.2021 | 20.4.2021 | USD | 0.16 |
| P-mdist | 17.5.2021 | 20.5.2021 | USD | 0.32 |
| 1  Siehe Erläuterung 5 |  |  |  |  |

UBS (Lux) Bond SICAV – USD Corporates (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2021

## Aufstellung der Wertpapierbestände und anderer Nettovermögenswerte per 31. Mai 2021
| Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
| Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden Notes, fester Zins |  |  |  |
| USD |  |  |  |
| USD	ABBVIE INC 4.50000% 15-14.05.35 | 4 000 000.00 | 4 742 882.52 | 1.01 |
| USD	AERCAP IRELAND CAP/ GLBL AVIATION TRUST 6.50000% 20-15.07.25 | 2 000 000.00 | 2 342 985.02 | 0.50 |
| USD	ALIBABA GROUP HOLDING LTD 4.00000% 17-06.12.37 | 1 500 000.00 | 1 630 125.00 | 0.35 |
| USD	AMAZON.COM INC 2.50000% 20-03.06.50 | 1 850 000.00 | 1 659 729.81 | 0.35 |
| USD	AMERICAN EXPRESS CO-SUB 3.62500% 14-05.12.24 | 1 500 000.00 | 1 645 278.74 | 0.35 |
| USD	AMERICAN INTERNATIONAL GROUP INC 4.37500% 20-30.06.50 | 1 000 000.00 | 1 156 394.65 | 0.25 |
| USD	AMERICAN INTL GROUP INC 3.40000% 20-30.06.30 | 1 500 000.00 | 1 619 938.88 | 0.34 |
| USD	AMGEN INC 3.15000% 20-21.02.40 | 1 000 000.00 | 1 012 584.51 | 0.21 |
| USD	ANHEUSER-BUSCH COS 4.70000% 19-01.02.36 | 4 750 000.00 | 5 659 261.91 | 1.20 |
| USD	AON CORP 4.60000% 14-14.06.44 | 2 000 000.00 | 2 421 576.34 | 0.51 |
| USD	APPLE INC 1.65000% 20-11.05.30 | 2 000 000.00 | 1 947 296.12 | 0.41 |
| USD	APPLE INC 3.45000% 15-09.02.45 | 2 000 000.00 | 2 139 737.08 | 0.45 |
| USD	AT&T INC 2.75000% 20-01.06.31 | 3 000 000.00 | 3 038 685.63 | 0.64 |
| USD	AT&T INC 3.50000% 20-01.06.41 | 750 000.00 | 752 357.46 | 0.16 |
| USD	AT&T INC 3.65000% 20-01.06.51 | 1 000 000.00 | 998 902.40 | 0.21 |
| USD	AT&T INC 4.30000% 18-15.02.30 | 2 000 000.00 | 2 276 792.70 | 0.48 |
| USD	AT&T INC 4.35000% 13-15.06.45 | 1 500 000.00 | 1 650 743.94 | 0.35 |
| USD	AT&T INC 4.85000% 19-01.03.39 | 1 000 000.00 | 1 177 490.59 | 0.25 |
| USD	AT&T INC 5.15000% 18-15.11.46 | 1 000 000.00 | 1 236 201.48 | 0.26 |
| USD	BARCLAYS PLC-SUB 4.37500% 14-11.09.24 | 2 250 000.00 | 2 464 573.05 | 0.52 |
| USD	BAT CAPITAL CORP 3.22200% 18-15.08.24 | 1 500 000.00 | 1 597 238.51 | 0.34 |
| USD	BERKSHIRE HATHAWAY 4.25000% 19-15.01.49 | 1 500 000.00 | 1 793 558.15 | 0.38 |
| USD	BOEING CO 4.87500% 20-01.05.25 | 3 045 000.00 | 3 420 883.45 | 0.73 |
| USD	BOEING CO 5.04000% 20-01.05.27 | 1 424 000.00 | 1 641 609.00 | 0.35 |
| USD	BP CAPITAL MARKETS AMERICA INC 3.41000% 19-11.02.26 | 2 000 000.00 | 2 203 664.48 | 0.47 |
| USD	BP CAPITAL MARKETS AMERICA INC 3.00000% 20-24.02.50 | 1 000 000.00 | 927 088.56 | 0.20 |
| USD	BRISTOL MYERS SQUIBB CO 4.12500% 20-15.06.39 | 3 000 000.00 | 3 536 857.14 | 0.75 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.87500% 18-15.01.27 | 2 000 000.00 | 2 197 245.78 | 0.47 |
| USD	CCO LLC/CAPITAL 4.20000% 17-15.03.28 | 1 000 000.00 | 1 117 908.44 | 0.24 |
| USD	CCO LLC/CAPITAL 6.38400% 16-23.10.35 | 2 500 000.00 | 3 265 614.92 | 0.69 |
| USD	CENTERPOINT ENERGY INC 4.25000% 18-01.11.28 | 500 000.00 | 566 606.10 | 0.12 |
| USD	CENTURYLINK INC 6.75000% 13-01.12.23 | 1 500 000.00 | 1 652 925.00 | 0.35 |
| USD	CHARTER COMMUNICATIONS OPERATING 3.50000% 21-01.06.41 | 3 250 000.00 | 3 100 547.71 | 0.66 |
| USD	CIGNA CORP 2.40000% 20-15.03.30 | 2 000 000.00 | 2 017 671.10 | 0.43 |
| USD	CITIGROUP INC 3.70000% 16-12.01.26 | 6 250 000.00 | 6 937 375.06 | 1.47 |
| USD	CITIGROUP INC-SUB 6.67500% 13-13.09.43 | 2 000 000.00 | 3 015 713.40 | 0.64 |
| USD	COMCAST CORP 4.60000% 18-15.10.38 | 5 000 000.00 | 6 020 571.55 | 1.28 |
| USD	CREDIT AGRICOLE SA-144A-SUB 4.37500% 15-17.03.25 | 2 000 000.00 | 2 204 748.64 | 0.47 |
| USD	CREDIT SUISSE GROUP AG 4.55000% 16-17.04.26 | 2 750 000.00 | 3 117 603.91 | 0.66 |
| USD	CVS HEALTH CORP 5.05000% 18-25.03.48 | 2 000 000.00 | 2 468 549.74 | 0.52 |
| USD	DTE ENERGY CO 2.95000% 19-01.03.30 | 3 750 000.00 | 3 897 767.18 | 0.83 |
| USD	EBAY INC 4.00000% 12-15.07.42 | 2 000 000.00 | 2 124 984.62 | 0.45 |
| USD	EPR PROPERTIES 4.95000% 18-15.04.28 | 1 500 000.00 | 1 570 769.79 | 0.33 |
| USD	EQT CORP 3.90000% 17-01.10.27 | 2 000 000.00 | 2 135 800.00 | 0.45 |
| USD	EQUINIX INC 1.80000% 20-15.07.27 | 1 000 000.00 | 1 006 092.99 | 0.21 |
| USD	EQUINOR ASA 2.87500% 20-06.04.25 | 3 000 000.00 | 3 218 623.23 | 0.68 |
| USD	ESTEE LAUDER COS INC 4.37500% 15-15.06.45 | 1 000 000.00 | 1 202 829.16 | 0.25 |
| USD	EXELON CORP 4.95000% 16-15.06.35 | 1 750 000.00 | 2 117 386.78 | 0.45 |
| USD	EXPEDIA GROUP INC-144A 2.95000% 21-15.03.31 | 2 500 000.00 | 2 494 357.02 | 0.53 |
| USD	FEDEX CORP 4.55000% 16-01.04.46 | 3 000 000.00 | 3 503 022.66 | 0.74 |
| USD	FORD MOTOR CREDIT CO 3.37500% 20-13.11.25 | 1 500 000.00 | 1 535 700.00 | 0.33 |
| USD	FREEPORT-MCMORAN INC 4.12500% 20-01.03.28 | 1 500 000.00 | 1 565 625.00 | 0.33 |
| USD	GE CAPITAL INTL FUNDING CO 3.37300% 16-15.11.25 | 4 000 000.00 | 4 370 636.44 | 0.93 |
| USD	GENERAL ELECTRIC CO 4.35000% 20-01.05.50 | 1 000 000.00 | 1 139 509.63 | 0.24 |
| USD	GENERAL MOTORS CO 5.00000% 14-01.04.35 | 1 000 000.00 | 1 185 642.64 | 0.25 |
| USD	GENERAL MOTORS FINANCIAL CO INC 4.00000% 16-06.10.26 | 2 250 000.00 | 2 489 612.09 | 0.53 |
| USD	GENERAL MOTORS FINANCIAL CO 3.85000% 18-05.01.28 | 1 000 000.00 | 1 090 026.78 | 0.23 |
| USD	GEORGIA POWER CO 3.70000% 20-30.01.50 | 2 000 000.00 | 2 112 098.30 | 0.45 |
| USD	GILEAD SCIENCES INC 2.60000% 20-01.10.40 | 2 000 000.00 | 1 869 280.00 | 0.40 |
| USD	GOLDMAN SACHS GROUP INC-SUB 6.75000% 07-01.10.37 | 1 750 000.00 | 2 495 898.37 | 0.53 |
| USD	GOLDMAN SACHS GROUP INC 2.60000% 20-07.02.30 | 1 000 000.00 | 1 026 683.71 | 0.22 |
| USD	GOLDMAN SACHS GROUP INC 3.80000% 20-15.03.30 | 1 000 000.00 | 1 114 143.60 | 0.24 |
| USD	GOLDMAN SACHS GROUP INC/THE 3.50000% 16-16.11.26 | 1 000 000.00 | 1 092 602.80 | 0.23 |
| USD	HCA INC 4.75000% 12-01.05.23 | 1 087 000.00 | 1 171 988.02 | 0.25 |
| USD	HCA INC 5.25000% 19-15.06.49 | 1 750 000.00 | 2 154 781.58 | 0.46 |
| USD	HOME DEPOT INC/THE 4.20000% 13-01.04.43 | 1 590 000.00 | 1 880 881.31 | 0.40 |
| USD	HSBC HOLDINGS PLC-SUB 4.37500% 16-23.11.26 | 2 250 000.00 | 2 546 153.30 | 0.54 |
| USD	INTEL CORP 4.60000% 20-25.03.40 | 1 000 000.00 | 1 215 025.50 | 0.26 |
| USD	INTERCONTINENTAL EXCHANGE INC 3.00000% 20-15.06.50 | 1 825 000.00 | 1 728 138.31 | 0.37 |
| USD	INTERNATIONAL BUSINESS MACHINES CORP 4.25000% 19-15.05.49 | 1 000 000.00 | 1 161 269.69 | 0.25 |
| USD	JPMORGAN CHASE & CO-SUB 3.87500% 14-10.09.24 | 3 500 000.00 | 3 835 703.76 | 0.81 |
| USD	KB HOME 7.62500% 15-15.05.23 | 1 500 000.00 | 1 627 500.00 | 0.34 |
| USD	KINROSS GOLD CORP 5.95000% 14-15.03.24 | 3 500 000.00 | 3 941 072.69 | 0.84 |
| USD	KRAFT HEINZ FOODS CO 4.62500% 18-30.01.29 | 1 500 000.00 | 1 696 320.05 | 0.36 |
| USD	KROGER CO 3.87500% 16-15.10.46 | 1 000 000.00 | 1 053 814.33 | 0.22 |
| USD	LINCOLN NATIONAL CORP 4.35000% 18-01.03.48 | 1 000 000.00 | 1 132 978.26 | 0.24 |
| USD	LSEGA FINANCING PLC-144A 3.20000% 21-06.04.41 | 2 000 000.00 | 2 016 023.16 | 0.43 |
| USD	MASCO CORP 4.50000% 17-15.05.47 | 2 000 000.00 | 2 346 377.38 | 0.50 |
| USD	MITSUBISHI UFJ FINANCIAL GRP INC 2.19300% 20-25.02.25 | 2 000 000.00 | 2 087 477.80 | 0.44 |
| USD	MPLX LP 2.65000% 20-15.08.30 | 1 000 000.00 | 993 942.00 | 0.21 |
| USD	MPLX LP 4.87500% 16-01.12.24 | 2 500 000.00 | 2 820 315.03 | 0.60 |
| USD	NATIONAL FUEL GAS CO 2.95000% 21-01.03.31 | 1 000 000.00 | 993 513.89 | 0.21 |
| USD	NATWEST GROUP PLC 4.80000% 16-05.04.26 | 2 000 000.00 | 2 299 804.00 | 0.49 |
| USD	NETFLIX INC 4.87500% 18-15.04.28 | 2 000 000.00 | 2 300 800.00 | 0.49 |
| USD	NORFOLK SOUTHERN CORP 4.10000% 19-15.05.49 | 2 000 000.00 | 2 271 965.10 | 0.48 |
| USD	NVIDIA CORP 2.85000% 20-01.04.30 | 1 000 000.00 | 1 064 571.46 | 0.23 |
| USD	OCCIDENTAL PETROLEUM CORP 2.90000% 19-15.08.24 | 2 500 000.00 | 2 493 750.00 | 0.53 |
| USD	ORACLE CORP 2.80000% 20-01.04.27 | 2 500 000.00 | 2 656 799.17 | 0.56 |

UBS (Lux) Bond SICAV – USD Corporates (USD)
Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2021
|  | Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
|  |  |  |  |  |
| USD | ORACLE CORP 3.60000% 20-01.04.40 | 3 000 000.00 | 3 055 265.28 | 0.65 |
| USD | ORACLE CORP 3.65000% 21-25.03.41 | 1 000 000.00 | 1 019 422.56 | 0.22 |
| USD | PAYPAL HOLDINGS INC 2.30000% 20-01.06.30 | 2 000 000.00 | 2 024 651.96 | 0.43 |
| USD | PIONEER NATURAL RESOURCES CO 1.90000% 20-15.08.30 | 1 000 000.00 | 941 316.67 | 0.20 |
| USD | PLAINS ALL AMERICAN PIPELINE LP 3.80000% 20-15.09.30 | 1 000 000.00 | 1 052 173.26 | 0.22 |
| USD | PRUDENTIAL FINANCIAL INC 3.93500% 18-07.12.49 | 2 396 000.00 | 2 679 850.96 | 0.57 |
| USD | PUBLIC STORAGE 3.09400% 17-15.09.27 | 2 500 000.00 | 2 731 144.55 | 0.58 |
| USD | QUALCOMM INC 4.30000% 17-20.05.47 | 500 000.00 | 593 057.96 | 0.13 |
| USD | QUANTA SERVICES INC 2.90000% 20-01.10.30 | 2 000 000.00 | 2 058 901.04 | 0.44 |
| USD | RABOBANK NEDERLAND NV-SUB 3.75000% 16-21.07.26 | 1 000 000.00 | 1 101 316.86 | 0.23 |
| USD | RABOBANK NEDERLAND-SUB 4.62500% 13-01.12.23 | 2 250 000.00 | 2 471 361.33 | 0.52 |
| USD | SABINE PASS LIQUEFACTION LLC 5.00000% 17-15.03.27 | 1 750 000.00 | 2 026 801.51 | 0.43 |
| USD | SEAGATE HDD CAYMAN 5.75000% 15-01.12.34 | 1 000 000.00 | 1 120 000.00 | 0.24 |
| USD | SHELL INTERNATIONAL FINANCE BV 4.00000% 16-10.05.46 | 2 000 000.00 | 2 273 948.80 | 0.48 |
| USD | SHERWIN-WILLIAMS CO 4.50000% 17-01.06.47 | 1 500 000.00 | 1 792 813.30 | 0.38 |
| USD | SOUTHWEST AIRLINES CO 3.45000% 17-16.11.27 | 5 000 000.00 | 5 379 116.15 | 1.14 |
| USD | SPECTRA ENERGY PARTNERS LP 4.50000% 15-15.03.45 | 1 000 000.00 | 1 122 850.98 | 0.24 |
| USD | T-MOBILE USA INC 5.37500% 17-15.04.27 | 1 000 000.00 | 1 060 950.00 | 0.22 |
| USD | TELECOM ITALIA SPA-144A 5.30300% 14-30.05.24 | 1 500 000.00 | 1 631 250.00 | 0.35 |
| USD | TELEFONICA EMISIONES SA 5.52000% 19-01.03.49 | 1 000 000.00 | 1 239 972.29 | 0.26 |
| USD | TIME WARNER CABLE LLC 7.30000% 08-01.07.38 | 1 000 000.00 | 1 415 788.23 | 0.30 |
| USD | TOLL BROTHERS FINANCE CORP 4.87500% 15-15.11.25 | 1 250 000.00 | 1 403 587.50 | 0.30 |
| USD | TOTAL CAPITAL INTERNATIONAL SA 3.12700% 20-29.05.50 | 1 000 000.00 | 967 602.79 | 0.20 |
| USD | TRUIST BANK-SUB 3.30000% 16-15.05.26 | 2 000 000.00 | 2 199 727.74 | 0.47 |
| USD | UNITED RENTALS NORTH AMERICA INC 4.00000% 20-15.07.30 | 2 000 000.00 | 2 037 460.00 | 0.43 |
| USD | UNITEDHEALTH GROUP INC 3.95000% 12-15.10.42 | 1 156 000.00 | 1 333 351.43 | 0.28 |
| USD | VALE OVERSEAS LTD 3.75000% 20-08.07.30 | 1 000 000.00 | 1 057 062.50 | 0.22 |
| USD | VERIZON COMMUNICATIONS INC 2.98700% 21-30.10.56 | 2 605 000.00 | 2 320 809.45 | 0.49 |
| USD | VERIZON COMMUNICATIONS INC 2.10000% 21-22.03.28 | 5 000 000.00 | 5 065 661.40 | 1.07 |
| USD | VIRGIN MEDIA SECURED FINANCE PLC-144A 5.50000% 16-15.08.26 | 1 500 000.00 | 1 555 500.00 | 0.33 |
| USD | VIRGINIA ELECTRIC & POWER CO 4.60000% 18-01.12.48 | 2 000 000.00 | 2 480 441.94 | 0.53 |
| USD | VODAFONE GROUP PLC 4.87500% 19-19.06.49 | 1 000 000.00 | 1 204 734.51 | 0.26 |
| USD | WPX ENERGY INC 5.87500% 20-15.06.28 | 650 000.00 | 715 650.00 | 0.15 |
| Total USD |  |  | 251 361 120.00 | 53.32 |
| Total Notes, fester Zins |  | 251 361 120.00 | 53.32 |
| Notes, variabler Zins |  |  |  |
| USD |  |  |  |
| USD	GOLDMAN SACHS GROUP INC 2.908%/VAR 17-05.06.23 | 2 000 000.00 | 2 050 858.42 | 0.44 |
| USD	HSBC HOLDINGS PLC 2.099%/VAR 20-04.06.26 | 2 500 000.00 | 2 571 405.87 | 0.55 |
| USD	JPMORGAN CHASE &CO 3.109%/VAR 20-22.04.51 | 1 500 000.00 | 1 477 813.31 | 0.31 |
| USD	MORGAN STANLEY 5.597%/VAR 20-24.03.51 | 2 000 000.00 | 2 860 793.08 | 0.61 |
| USD	WELLS FARGO & CO 2.188%/VAR 20-30.04.26 | 1 500 000.00 | 1 564 039.42 | 0.33 |
| USD	WESTPAC BANKING CORP-SUB 2.668%/VAR 20-15.11.35 | 2 000 000.00 | 1 944 635.40 | 0.41 |
| Total USD |  | 12 469 545.50 | 2.65 |
| Total Notes, variabler Zins |  | 12 469 545.50 | 2.65 |
| Medium-Term Notes, fester Zins |  |  |  |
| USD |  |  |  |
| USD	AIR LEASE CORP 3.00000% 20-01.02.30 | 1 000 000.00 | 995 898.60 | 0.21 |
| USD	BANK OF AMERICA CORP-SUB 4.20000% 14-26.08.24 | 7 000 000.00 | 7 739 138.40 | 1.64 |
| USD	BANK OF AMERICA CORP-SUB 4.18300% 16-25.11.27 | 5 000 000.00 | 5 622 803.10 | 1.19 |
| USD	FORD MOTOR CREDIT CO LLC 4.38900% 16-08.01.26 | 750 000.00 | 798 907.50 | 0.17 |
| USD	MORGAN STANLEY-SUB 4.10000% 13-22.05.23 | 2 500 000.00 | 2 674 732.30 | 0.57 |
| USD	PUBLIC SERVICE ELECTRIC & GAS CO 3.15000% 20-01.01.50 | 2 000 000.00 | 2 046 445.92 | 0.44 |
| USD	SAUDI ARABIAN OIL CO-144A 4.37500% 19-16.04.49 | 2 000 000.00 | 2 225 000.00 | 0.47 |
| Total USD |  | 22 102 925.82 | 4.69 |
| Total Medium-Term Notes, fester Zins |  | 22 102 925.82 | 4.69 |
| Medium-Term Notes, variabler Zins |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 2.496%/3M LIBOR+99BP 20-13.02.31 | 3 000 000.00 | 3 018 710.19 | 0.64 |
| USD	BANK OF AMERICA CORP 2.676%/VAR 20-19.06.41 | 750 000.00 | 708 656.35 | 0.15 |
| USD	MORGAN STANLEY 3.622%/VAR 20-01.04.31 | 2 000 000.00 | 2 202 376.86 | 0.47 |
| USD	WELLS FARGO & CO 2.879%/VAR 19-30.10.30 | 2 000 000.00 | 2 095 148.24 | 0.44 |
| Total USD |  | 8 024 891.64 | 1.70 |
| Total Medium-Term Notes, variabler Zins |  | 8 024 891.64 | 1.70 |
| Anleihen, fester Zins |  |  |  |
| USD |  |  |  |
| USD	BALTIMORE GAS & ELECTRIC CO 3.50000% 16-15.08.46 | 1 250 000.00 | 1 327 264.30 | 0.28 |
| USD	BURLINGTON NORTHERN SANTA FE LLC 4.05000% 18-15.06.48 | 2 000 000.00 | 2 309 422.66 | 0.49 |
| USD	CONSOLIDATED EDISON CO OF NEW YORK INC 4.65000% 18-01.12.48 | 1 500 000.00 | 1 816 677.66 | 0.39 |
| USD	DUKE ENERGY CAROLINAS LLC 6.05000% 08-15.04.38 | 925 000.00 | 1 291 227.92 | 0.27 |
| USD	DUKE ENERGY OHIO INC 4.30000% 19-01.02.49 | 2 000 000.00 | 2 366 541.14 | 0.50 |
| USD	EL PASO NATURAL GAS CO 8.37500% 03-15.06.32 | 1 050 000.00 | 1 527 893.11 | 0.32 |
| USD	ENTERPRISE PRODUCTS OPERATING LP 6.87500% 03-01.03.33 | 900 000.00 | 1 245 859.65 | 0.26 |
| USD	PACIFIC GAS AND ELECTRIC CO 4.95000% 20-01.07.50 | 2 500 000.00 | 2 527 413.98 | 0.54 |
| USD	SAN DIEGO GAS & ELECTRIC CO 4.10000% 19-15.06.49 | 1 000 000.00 | 1 155 731.14 | 0.25 |
| USD	SOUTHERN CALIFORNIA EDISON CO 3.65000% 20-01.02.50 | 4 250 000.00 | 4 170 514.59 | 0.89 |
| USD	TIME WARNER ENTERTAINMENT CO L P 8.37500% 93-15.03.23 | 1 300 000.00 | 1 477 620.32 | 0.31 |
| Total USD |  | 21 216 166.47 | 4.50 |
| Total Anleihen, fester Zins |  | 21 216 166.47 | 4.50 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2021
| Bezeichnung	Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- |
| Nominal | NR Kursgewinn | Netto- |
|  | (-verlust) auf Futures/ | vermögens |
|  | Devisentermin- |  |
|  | kontrakten/ |  |
|  | Swaps (Erl. 1) |  |

Anleihen, variabler Zins
| USD |  |
| --- | --- |
| USD | BP CAPITAL MARKETS PLC-SUB 4.875%/VAR 20-PRP | 2 000 000.00 | 2 156 440.00 | 0.46 |
| USD | DEUTSCHE TELEKOM INTL FIN 8.250%/RATING LINKED 00-15.06.30 | 2 750 000.00 | 4 071 391.14 | 0.86 |
| Total USD |  |  | 6 227 831.14 | 1.32 |
| Total Anleihen, variabler Zins |  | 6 227 831.14 | 1.32 |
| Treasury-Notes, fester Zins |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 0.12500% 20-15.12.23 | 14 000 000.00 | 13 966 640.66 | 2.96 |
| Total USD |  | 13 966 640.66 | 2.96 |
| Total Treasury-Notes, fester Zins | 13 966 640.66 | 2.96 |
| Total Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden | 335 369 121.23 | 71.14 |
| Wertpapiere und Geldmarktinstrumente, die an einem anderen geregelten Markt gehandelt werden |  |  |
| Notes, fester Zins |  |  |
| USD |  |  |
| USD	AKER BP ASA-144A 3.00000% 20-15.01.25	2 675 000.00 | 2 792 238.19 | 0.59 |
| USD	AKER BP ASA-144A 3.75000% 20-15.01.30	1 000 000.00 | 1 056 321.29 | 0.22 |
| USD	BROADCOM INC 4.11000% 20-15.09.28	2 124 000.00 | 2 346 721.58 | 0.50 |
| USD	CARRIER GLOBAL CORP 2.49300% 20-15.02.27	2 000 000.00 | 2 100 675.72 | 0.45 |
| USD	CENTENE CORP 3.37500% 20-15.02.30	2 500 000.00 | 2 525 000.00 | 0.53 |
| USD	CHENIERE ENERGY INC-144A 4.62500% 20-15.10.28	1 000 000.00 | 1 050 000.00 | 0.22 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 8.35000% 16-15.07.46	1 000 000.00 | 1 569 518.10 | 0.33 |
| USD	GENERAL MOTORS FINANCIAL CO INC 4.25000% 14-15.05.23	2 000 000.00 | 2 136 002.72 | 0.45 |
| USD	GLENCORE FUNDING LLC-144A 4.12500% 19-12.03.24	1 500 000.00 | 1 624 158.32 | 0.34 |
| USD	GLP CAPITAL LP / GLP FINANC II INC 5.37500% 14-01.11.23	500 000.00 | 545 590.00 | 0.12 |
| USD	GRAPHIC PACKAGING INTERNATIONL INC-144A 3.50000% 20-15.03.28	1 000 000.00 | 995 030.00 | 0.21 |
| USD	HARLEY-DAVIDSON FIN.SERV INC-144A 3.35000% 18-15.02.23	2 500 000.00 | 2 605 580.95 | 0.55 |
| USD	HCA INC 5.00000% 14-15.03.24	2 250 000.00 | 2 508 964.65 | 0.53 |
| USD	JPMORGAN CHASE & CO-SUB 3.62500% 16-01.12.27	8 000 000.00 | 8 842 399.52 | 1.88 |
| USD	KKR GROUP FINANCE CO II LLC-144A 5.50000% 13-01.02.43	1 150 000.00 | 1 491 291.31 | 0.32 |
| USD	LEVEL 3 FINANCING INC-144A 3.87500% 19-15.11.29	2 500 000.00 | 2 652 500.00 | 0.56 |
| USD	LYB INTERNATIONAL FINANCE III LLC 3.62500% 20-01.04.51	1 000 000.00 | 1 001 316.27 | 0.21 |
| USD	MERCK & CO INC 3.70000% 15-10.02.45	1 380 000.00 | 1 540 332.24 | 0.33 |
| USD	MORGAN STANLEY 3.70000% 14-23.10.24	2 000 000.00 | 2 195 544.16 | 0.47 |
| USD	MORGAN STANLEY 3.87500% 14-29.04.24	3 500 000.00 | 3 819 959.22 | 0.81 |
| USD	NGPL PIPE CO LLC-144A 7.76800% 07-15.12.37	1 000 000.00 | 1 377 933.37 | 0.29 |
| USD	NOVA CHEMICALS CORP-144A 5.25000% 17-01.06.27	955 000.00 | 1 021 850.00 | 0.22 |
| USD	NRG ENERGY INC-144A 3.75000% 19-15.06.24	425 000.00 | 454 060.21 | 0.10 |
| USD	NXP BV / NXP FUNDING LLC-144A 5.55000% 18-01.12.28	4 000 000.00 | 4 853 188.84 | 1.03 |
| USD	PPL CAPITAL FUNDING INC 4.70000% 13-01.06.43	2 000 000.00 | 2 369 730.62 | 0.50 |
| USD	SANTOS FINANCE LTD-144A 3.64900% 21-29.04.31	3 000 000.00 | 3 013 650.90 | 0.64 |
| USD	SIRIUS XM RADIO INC-144A 4.62500% 19-15.07.24	1 500 000.00 | 1 537 500.00 | 0.33 |
| USD	SOCIETE GENERALE SA-144A 4.00000% 17-12.01.27	3 000 000.00 | 3 332 743.65 | 0.71 |
| USD	TECK RESOURCES LTD 3.90000% 20-15.07.30	1 000 000.00 | 1 068 874.49 | 0.23 |
| USD	TECK RESOURCES LTD 6.12500% 05-01.10.35	1 000 000.00 | 1 252 810.21 | 0.27 |
| USD	TEGNA INC-144A 4.75000% 20-15.03.26	1 500 000.00 | 1 593 180.00 | 0.34 |
| USD	TRI POINTE HOLDINGS INC 5.87500% 15-15.06.24	1 500 000.00 | 1 665 360.00 | 0.35 |
| USD	TRITON CONTAINER INTERNATIONAL LTD-144A 2.05000% 21-15.04.26	2 000 000.00 | 2 009 412.00 | 0.43 |
| USD	UNITED TECHNOLOGIES CORP 4.50000% 12-01.06.42	3 000 000.00 | 3 587 352.69 | 0.76 |
| USD	UPJOHN INC-144A 1.65000% 20-22.06.25	1 000 000.00 | 1 015 349.71 | 0.21 |
| USD	VICI PROPERTIES LP /VCI NTE CO INC-144A 4.12500% 20-15.08.30	1 000 000.00 | 1 015 400.00 | 0.22 |
| USD	VISTRA OPERATIONS CO LLC-144A 5.50000% 18-01.09.26	1 500 000.00 | 1 548 663.45 | 0.33 |
| USD	VOLKSWAGEN GRP OF AMERICA FINANCE-144A 4.62500% 18-13.11.25	1 500 000.00 | 1 713 262.76 | 0.36 |
| USD	WELLS FARGO & CO-SUB 5.60600% 14-15.01.44	2 000 000.00 | 2 639 240.36 | 0.56 |
| Total USD | 82 468 707.50 | 17.50 |
| Total Notes, fester Zins | 82 468 707.50 | 17.50 |
| Notes, variabler Zins |  |  |
| USD |  |  |
| USD	BNP PARIBAS-144A 3.052%/VAR 20-13.01.31	3 000 000.00 | 3 111 635.55 | 0.66 |
| Total USD | 3 111 635.55 | 0.66 |
| Total Notes, variabler Zins | 3 111 635.55 | 0.66 |
| Medium-Term Notes, variabler Zins |  |  |
| USD |  |  |
| USD	NATIONAL AUSTRALIA BANK LTD-144A-SUB 3.933%/VAR 19-02.08.34	2 000 000.00 | 2 141 820.00 | 0.45 |
| Total USD | 2 141 820.00 | 0.45 |
| Total Medium-Term Notes, variabler Zins | 2 141 820.00 | 0.45 |
| Anleihen, fester Zins |  |  |
| USD |  |  |
| USD	NEVADA POWER CO 6.65000% 06-01.04.36	1 174 000.00 | 1 679 528.65 | 0.36 |
| USD	NGPL PIPECO LLC-144A 4.87500% 17-15.08.27	1 500 000.00 | 1 715 409.30 | 0.36 |
| Total USD | 3 394 937.95 | 0.72 |
| Total Anleihen, fester Zins | 3 394 937.95 | 0.72 |
| Total Wertpapiere und Geldmarktinstrumente, die an einem anderen geregelten Markt gehandelt werden | 91 117 101.00 | 19.33 |
| UBS (Lux) Bond SICAV – USD Corporates (USD) |  |  |
| Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2021 |  |  |

| Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |

Wertpapiere und Geldmarktinstrumente, die nicht an einer offiziellen Börse oder einem anderen geregelten Markt gehandelt werden
Notes, fester Zins
| USD |  |
| --- | --- |
| USD | AVOLON HOLDINGS FUNDING LTD-144A 2.75000% 21-21.02.28 | 3 000 000.00 | 2 917 500.00 | 0.62 |
| USD | FOX CORP 4.70900% 20-25.01.29 | 2 000 000.00 | 2 318 809.28 | 0.49 |
| USD | GE CAPITAL FUNDING LLC 4.05000% 21-15.05.27 | 1 000 000.00 | 1 130 992.00 | 0.24 |
| USD | GE CAPITAL FUNDING LLC 4.55000% 21-15.05.32 | 2 000 000.00 | 2 346 865.32 | 0.50 |
| Total USD |  |  | 8 714 166.60 | 1.85 |
| Total Notes, fester Zins |  | 8 714 166.60 | 1.85 |
| Total Wertpapiere und Geldmarktinstrumente, die nicht an einer offiziellen Börse oder einem anderen geregelten Markt gehandelt werden |  | 8 714 166.60 | 1.85 |
| Neuemittierte Wertpapiere und Geldmarktinstrumente |  |  |  |
| Notes, fester Zins |  |  |  |
| USD |  |  |  |
| USD	AES CORP-144A 1.37500% 20-15.01.26 | 2 500 000.00 | 2 471 719.30 | 0.52 |
| USD	AUSTRALIA & NEW ZEALAND BANK-144A-SUB 2.57000% 20-25.11.35 | 2 250 000.00 | 2 159 729.99 | 0.46 |
| USD	HILTON DOMESTIC OPERATING CO INC-144A 3.62500% 21-15.02.32 | 1 000 000.00 | 978 575.00 | 0.21 |
| USD	LITHIA MOTORS INC-144A 3.87500% 21-01.06.29 | 2 500 000.00 | 2 568 400.00 | 0.54 |
| USD	TRITON CONTAINER INTERNATIONAL LTD-144A 1.15000% 21-07.06.24 | 1 000 000.00 | 1 000 350.00 | 0.21 |
| USD	UPJOHN INC-144A 4.00000% 20-22.06.50 | 2 000 000.00 | 2 026 478.66 | 0.43 |
| Total USD |  | 11 205 252.95 | 2.37 |
| Total Notes, fester Zins |  | 11 205 252.95 | 2.37 |
| Total Neuemittierte Wertpapiere und Geldmarktinstrumente |  | 11 205 252.95 | 2.37 |

OGAW/Andere OGA im Sinne des Artikels 41 (1) e) des abgeänderten luxemburgischen Gesetzes vom 17. Dezember 2010
Investment Fonds, open end
Luxemburg
| USD | UBS (LUX) BOND SICAV - MULTI INCOME (USD)-U-X-ACC | 270.00 | 2 887 677.00 | 0.61 |
| --- | --- | --- | --- | --- |
| Total Luxemburg | 2 887 677.00 | 0.61 |
| Total Investment Fonds, open end | 2 887 677.00 | 0.61 |
| Total OGAW/Andere OGA im Sinne des Artikels 41 (1) e) des abgeänderten luxemburgischen Gesetzes vom 17. Dezember 2010 | 2 887 677.00 | 0.61 |
| Total des Wertpapierbestandes | 449 293 318.78 | 95.30 |

| Derivative Instrumente |  |
| --- | --- |
| Derivative Instrumente, die an einer offiziellen Börse gehandelt werden |
| Finanzterminkontrakte auf Anleihen |
|  |  |  |  |
| USD	US 10YR TREASURY NOTE FUTURE 21.09.21 | -165.00 | -33 375.00 | -0.01 |
| USD	US ULTRA LONG BOND (CBT) FUTURE 21.09.21 | 35.00 | 1 093.75 | 0.00 |
| Total Finanzterminkontrakte auf Anleihen |  | -32 281.25 | -0.01 |
| Total Derivative Instrumente, die an einer offiziellen Börse gehandelt werden |  | -32 281.25 | -0.01 |
| Total Derivative Instrumente |  | -32 281.25 | -0.01 |
| Devisenterminkontrakte |  |  |  |
| Gekaufte Währung/ Gekaufter Betrag/Verkaufte Währung/Verkaufter Betrag/Fälligkeitsdatum |  |  |  |

| EUR | 16 208 000.00 | USD | 19 882 856.05 | 28.6.2021 | -56 963.44 | -0.01 |
| --- | --- | --- | --- | --- | --- | --- |
| CHF | 17 793 400.00 | USD | 19 934 784.59 | 28.6.2021 | -137 963.53 | -0.03 |
| CHF | 189 600.00 | USD | 211 072.39 | 1.6.2021 | -253.47 | 0.00 |
| USD | 211 214.18 | CHF | 189 600.00 | 28.6.2021 | 266.45 | 0.00 |
| Total Devisenterminkontrakte | -194 913.99 | -0.04 |
|  |  |  |
| Bankguthaben, Sicht- und Fristgelder und andere liquide Mittel | 19 558 381.51 | 4.15 |
| Andere Aktiva und Passiva | 2 810 910.64 | 0.60 |
| Total des Nettovermögens | 471 435 415.69 | 100.00 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2021