# UBS (Lux) Equity SICAV
– European High Dividend (EUR)
| Three-year comparison |  |
| --- | --- |
|  | ISIN | 31.5.2020 | 31.5.2019 | 31.5.2018 |
| Net assets in EUR |  | 207 697 734.51 | 278 537 057.54 | 347 261 836.79 |
| Class N-8%-mdist | LU1121265976 |  |  |  |
| Shares outstanding |  | 87 841.4330 | 114 815.1610 | 90 921.4640 |
| Net asset value per share in EUR |  | 61.71 | 75.21 | 85.12 |
| Issue and redemption price per share in EUR 1 |  | 61.71 | 75.21 | 85.12 |
| Class P-acc | LU0566497433 |  |  |  |
| Shares outstanding |  | 345 925.7710 | 416 520.0860 | 519 255.8330 |
| Net asset value per share in EUR |  | 131.77 | 146.79 | 151.89 |
| Issue and redemption price per share in EUR 1 |  | 131.77 | 146.79 | 151.89 |
| Class (CHF) P-acc | LU0571745792 |  |  |  |
| Shares outstanding |  | 117 163.7110 | 130 062.4500 | 146 257.6880 |
| Net asset value per share in CHF |  | 110.09 | 128.63 | 136.21 |
| Issue and redemption price per share in CHF 1 |  | 110.09 | 128.63 | 136.21 |
| Class (USD) P-acc | LU0571745446 |  |  |  |
| Shares outstanding |  | 35 626.7240 | 63 223.0260 | 71 707.3040 |
| Net asset value per share in USD |  | 110.59 | 123.40 | 133.70 |
| Issue and redemption price per share in USD 1 |  | 110.59 | 123.40 | 133.70 |
| Class P-dist | LU0566497516 |  |  |  |
| Shares outstanding |  | 136 886.4310 | 149 024.9610 | 182 407.6120 |
| Net asset value per share in EUR |  | 105.24 | 120.49 | 127.57 |
| Issue and redemption price per share in EUR 1 |  | 105.24 | 120.49 | 127.57 |
| Class (CHF hedged) P-dist | LU0826316233 |  |  |  |
| Shares outstanding |  | 123 998.5240 | 173 442.8040 | 210 115.3970 |
| Net asset value per share in CHF |  | 106.81 | 122.63 | 130.14 |
| Issue and redemption price per share in CHF 1 |  | 106.81 | 122.63 | 130.14 |
| Class (GBP) P-dist | LU0571744555 |  |  |  |
| Shares outstanding |  | 22 928.1360 | 32 074.2050 | 37 628.1310 |
| Net asset value per share in GBP |  | 111.04 | 124.86 | 131.08 |
| Issue and redemption price per share in GBP 1 |  | 111.04 | 124.86 | 131.08 |
| Class P-mdist | LU1249369007 |  |  |  |
| Shares outstanding |  | 2 112.6920 | 1 657.9160 | 4 820.6900 |
| Net asset value per share in EUR |  | 74.14 | 86.08 | 92.75 |
| Issue and redemption price per share in EUR 1 |  | 74.14 | 86.08 | 92.75 |
| Class Q-acc | LU0847997854 |  |  |  |
| Shares outstanding |  | 125 678.1420 | 240 022.6980 | 283 485.6660 |
| Net asset value per share in EUR |  | 88.40 | 97.82 | 100.55 |
| Issue and redemption price per share in EUR 1 |  | 88.40 | 97.82 | 100.55 |
| Class (CHF) Q-acc | LU1240784311 |  |  |  |
| Shares outstanding |  | 7 237.4670 | 79 392.2740 | 97 281.1140 |
| Net asset value per share in CHF |  | 88.51 | 102.72 | 108.10 |
| Issue and redemption price per share in CHF 1 |  | 88.51 | 102.72 | 108.10 |
| Class (USD) Q-acc | LU1240784584 |  |  |  |
| Shares outstanding |  | 6 853.7390 | 11 828.2770 | 20 088.8010 |
| Net asset value per share in USD |  | 89.66 | 99.41 | 107.03 |
| Issue and redemption price per share in USD 1 |  | 89.66 | 99.41 | 107.03 |
| Class Q-dist | LU1240784741 |  |  |  |
| Shares outstanding |  | 46 002.2730 | 107 111.3160 | 106 103.5590 |
| Net asset value per share in EUR |  | 78.64 | 90.04 | 95.33 |
| Issue and redemption price per share in EUR 1 |  | 78.64 | 90.04 | 95.33 |
| Class (CHF hedged) Q-dist | LU1240784238 |  |  |  |
| Shares outstanding |  | 39 844.7250 | 261 740.2050 | 324 375.4680 |
| Net asset value per share in CHF |  | 77.13 | 88.54 | 93.96 |
| Issue and redemption price per share in CHF 1 |  | 77.13 | 88.54 | 93.96 |
| Class (GBP) Q-dist | LU1240784402 |  |  |  |
| Shares outstanding |  | 6 979.6980 | 5 587.4860 | 5 937.7740 |
| Net asset value per share in GBP |  | 101.08 | 113.62 | 119.31 |
| Issue and redemption price per share in GBP 1 |  | 101.08 | 113.62 | 119.31 |
| Class QL-acc 2 | LU2049072429 |  |  |  |
| Shares outstanding |  | 81 303.2030 | - | - |
| Net asset value per share in EUR |  | 88.08 | - | - |
| Issue and redemption price per share in EUR 1 |  | 88.08 | - | - |
| Class (CHF) QL-acc 2 | LU2049072189 |  |  |  |
| Shares outstanding |  | 66 664.9450 | - | - |
| Net asset value per share in CHF |  | 86.51 | - | - |
| Issue and redemption price per share in CHF 1 |  | 86.51 | - | - |

UBS (Lux) Equity SICAV – European High Dividend (EUR)
Annual report and audited financial statements as of 31 May 2020
|  | ISIN | 31.5.2020 |  | 31.5.2019 | 31.5.2018 |
| --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |
| Class (USD) QL-acc 2 | LU2049072346 |  |  |  |  |
| Shares outstanding |  | 720.9140 |  | - | - |
| Net asset value per share in USD |  | 89.43 |  | - | - |
| Issue and redemption price per share in USD 1 |  | 89.43 |  | - | - |
| Class QL-dist 2 | LU2049072692 |  |  |  |  |
| Shares outstanding |  | 43 686.2580 |  | - | - |
| Net asset value per share in EUR |  | 88.07 |  | - | - |
| Issue and redemption price per share in EUR 1 |  | 88.07 |  | - | - |
| Class (CHF hedged) QL-dist 2 | LU2049072007 |  |  |  |  |
| Shares outstanding |  | 145 699.7220 |  | - | - |
| Net asset value per share in CHF |  | 87.95 |  | - | - |
| Issue and redemption price per share in CHF 1 |  | 87.95 |  | - | - |
| Class (GBP) QL-dist 2 | LU2049072262 |  |  |  |  |
| Shares outstanding |  | 477.2800 |  | - | - |
| Net asset value per share in GBP |  | 88.36 |  | - | - |
| Issue and redemption price per share in GBP 1 |  | 88.36 |  | - | - |
| Class U-X-acc | LU0566497789 |  |  |  |  |
| Shares outstanding |  | 5 445.0000 |  | 6 464.0100 | 8 080.0100 |
| Net asset value per share in EUR |  | 11 617.10 |  | 12 744.56 | 12 985.42 |
| Issue and redemption price per share in EUR 1 |  | 11 617.10 |  | 12 744.56 | 12 985.42 |
| 1  See note 1 2  First NAV: 9.10.2019 |  |  |  |  |  |
| Performance |  |  |  |  |  |
|  |  | Currency | 2019/2020 | 2018/2019 | 2017/2018 |
| Class N-8%-mdist |  | EUR | -11.1% | -4.3% | -2.2% |
| Class P-acc |  | EUR | -10.2% | -3.4% | -1.3% |
| Class (CHF) P-acc |  | CHF | -14.4% | -5.6% | 4.1% |
| Class (USD) P-acc |  | USD | -10.4% | -7.7% | 2.5% |
| Class P-dist |  | EUR | -10.2% | -3.4% | -1.3% |
| Class (CHF hedged) P-dist |  | CHF | -10.5% | -3.6% | -1.7% |
| Class (GBP) P-dist |  | GBP | -8.6% | -2.6% | -0.6% |
| Class P-mdist |  | EUR | -10.2% | -3.3% | -1.3% |
| Class Q-acc |  | EUR | -9.6% | -2.7% | -0.6% |
| Class (CHF) Q-acc |  | CHF | -13.8% | -5.0% | 4.8% |
| Class (USD) Q-acc |  | USD | -9.8% | -7.1% | 3.2% |
| Class Q-dist |  | EUR | -9.6% | -2.7% | -0.6% |
| Class (CHF hedged) Q-dist |  | CHF | -9.9% | -3.0% | -1.0% |
| Class (GBP) Q-dist |  | GBP | -8.0% | -1.9% | 0.1% |
| Class QL-acc 1 |  | EUR | - | - | - |
| Class (CHF) QL-acc 1 |  | CHF | - | - | - |
| Class (USD) QL-acc 1 |  | USD | - | - | - |
| Class QL-dist 1 |  | EUR | - | - | - |
| Class (CHF hedged) QL-dist 1 |  | CHF | - | - | - |
| Class (GBP) QL-dist 1 |  | GBP | - | - | - |
| Class U-X-acc |  | EUR | -8.8% | -1.9% | 0.3% |
| 1  Due to the recent launch, 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 – European 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, European equity market returns were negative. While markets rallied in 2019, a strong sell-off took place in February and March 2020, due to fears of the economic fall-out and the social cost of the coronavirus crisis. Markets have rebounded and sentiment has improved since then, on the back of unprecedented fiscal and monetary support.
The subfund posted negative returns in the financial year. From a sector perspective financials, energy and communication services detracted as did the exposure to the UK, France and Spain. From a stock perspective Unibail-Rodamco, Publicis, Royal Dutch Shell and BP detracted the most. Exposure to health care and Den- mark as well as Astra Zeneca and Novo Nordisk offset some of the negative returns.
UBS (Lux) Equity SICAV – European High Dividend (EUR)
Annual report and audited financial statements as of 31 May 2020

## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
United Kingdom	22.77
| Germany | 14.90 |
| --- | --- |
| France | 14.07 |
| Switzerland | 12.84 |
| Sweden | 7.06 |
| Spain | 7.00 |
| Finland | 5.70 |
| Norway | 5.01 |
| The Netherlands | 3.00 |
| Italy | 2.94 |
| Denmark | 2.06 |
| Belgium | 1.07 |
| Australia | 1.00 |
| Total | 99.42 |

Economic Breakdown as a % of net assets	
| Pharmaceuticals, cosmetics & medical products | 11.04 |
| --- | --- |
| Insurance | 10.75 |
| Energy & water supply | 8.87 |
| Telecommunications | 7.99 |
| Chemicals | 6.02 |
| Petroleum | 5.82 |
| Food & soft drinks | 4.99 |
| Building industry & materials | 4.91 |
| Real Estate | 3.98 |
| Tobacco & alcohol | 3.93 |
| Retail trade, department stores | 3.00 |
| Mechanical engineering & industrial equipment | 2.91 |
| Electrical devices & components | 2.07 |
| Traffic & transportation | 2.07 |
| Miscellaneous consumer goods | 2.04 |
| Banks & credit institutions | 2.04 |
| Agriculture & fishery | 2.03 |
| Non-ferrous metals | 2.01 |
| Mining, coal & steel | 2.00 |
| Rubber & tyres | 1.91 |
| Finance & holding companies | 1.04 |
| Internet, software & IT services | 1.04 |
| Electronics & semiconductors | 1.02 |
| Healthcare & social services | 1.02 |
| Miscellaneous services | 1.01 |
| Various capital goods | 1.00 |
| Lodging, catering & leisure | 1.00 |
| Vehicles | 0.96 |
| Forestry, paper & pulp products | 0.95 |
| Total | 99.42 |


## Statement of Net Assets
Assets	31.5.2020
EUR
Investments in securities, cost	224 666 819.71
| Investments in securities, unrealized appreciation (depreciation) | 	-18 169 385.58	 |
| --- | --- |
| Total investments in securities (Note 1) | 206 497 434.13 |
| Cash at banks, deposits on demand and deposit accounts | 943 203.59 |
| Receivable on securities sales (Note 1) | 17 360 702.31 |
| Receivable on subscriptions | 3 095.94 |
| Interest receivable on liquid assets | 141.88 |
| Receivable on dividends | 395 690.94 |
| Other receivables | 498 632.31 |
| Unrealized gain (loss) on forward foreign exchange contracts (Note 1) | -431 159.51 |
| Total Assets | 225 267 741.59 |
|  |  |
| Liabilities |  |
| Interest payable on bank overdraft | -4.05 |
| Payable on securities purchases (Note 1) | -17 387 970.87 |
| Payable on redemptions | -86 592.86 |
| Provisions for flat fee (Note 2) | -70 139.52 |
| Provisions for taxe d’abonnement (Note 3) | -12 731.49 |
| Provisions for other commissions and fees (Note 2) | 	-12 568.29	 |
| Total provisions | -95 439.30 |
| Total Liabilities | -17 570 007.08 |
|  |  |
| Net assets at the end of the financial year | 207 697 734.51 |
| Statement of Operations | EUR |
| Income | 1.6.2019-31.5.2020 |
| Interest on liquid assets | 710.52 |
| Dividends | 8 686 716.35 |
| Income on securities lending (Note 16) | 111 790.38 |
| Other income (Note 4) | 21 236.41 |
| Total income | 8 820 453.66 |
|  |  |
| Expenses |  |
| Flat fee (Note 2) | -2 379 316.39 |
| Taxe d’abonnement (Note 3) | -93 778.60 |
| Cost on securities lending (Note 16) | -44 716.15 |
| Other commissions and fees (Note 2) | -36 050.32 |
| Interest on cash and bank overdraft | -3 333.65 |
| Total expenses | -2 557 195.11 |
|  |  |
| Net income (loss) on investments | 6 263 258.55 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | -23 066 886.96 |
| Realized gain (loss) on forward foreign exchange contracts | 1 723 877.03 |
| Realized gain (loss) on foreign exchange | 435 754.54 |
| Total realized gain (loss) | -20 907 255.39 |
|  |  |
| Net realized gain (loss) of the financial year | -14 643 996.84 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | -6 762 738.73 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | -476 032.63 |
| Total changes in unrealized appreciation (depreciation) | -7 238 771.36 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | -21 882 768.20 |

UBS (Lux) Equity SICAV – European 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 | 278 537 057.54 |
| Subscriptions | 52 706 241.89 |
| Redemptions | 	-98 920 459.61	 |
| Total net subscriptions (redemptions) | -46 214 217.72 |
| Dividend paid | -2 742 337.11 |
| Net income (loss) on investments | 6 263 258.55 |
| Total realized gain (loss) | -20 907 255.39 |
| Total changes in unrealized appreciation (depreciation) | 	-7 238 771.36	 |
| Net increase (decrease) in net assets as a result of operations | -21 882 768.20 |
| Net assets at the end of the financial year | 207 697 734.51 |
| Changes in the Number of Shares outstanding |  |
|  | 1.6.2019-31.5.2020 |
| Class | N-8%-mdist |
| Number of shares outstanding at the beginning of the financial year | 114 815.1610 |
| Number of shares issued | 10 583.0660 |
| Number of shares redeemed | -37 556.7940 |
| Number of shares outstanding at the end of the financial year | 87 841.4330 |
| Class | P-acc |
| Number of shares outstanding at the beginning of the financial year | 416 520.0860 |
| Number of shares issued | 31 663.0630 |
| Number of shares redeemed | -102 257.3780 |
| Number of shares outstanding at the end of the financial year | 345 925.7710 |
| Class | (CHF) P-acc |
| Number of shares outstanding at the beginning of the financial year | 130 062.4500 |
| Number of shares issued | 7 104.0840 |
| Number of shares redeemed | -20 002.8230 |
| Number of shares outstanding at the end of the financial year | 117 163.7110 |
| Class | (USD) P-acc |
| Number of shares outstanding at the beginning of the financial year | 63 223.0260 |
| Number of shares issued | 2 078.5750 |
| Number of shares redeemed | -29 674.8770 |
| Number of shares outstanding at the end of the financial year | 35 626.7240 |
| Class | P-dist |
| Number of shares outstanding at the beginning of the financial year | 149 024.9610 |
| Number of shares issued | 15 558.3810 |
| Number of shares redeemed | -27 696.9110 |
| Number of shares outstanding at the end of the financial year | 136 886.4310 |
| Class | (CHF hedged) P-dist |
| Number of shares outstanding at the beginning of the financial year | 173 442.8040 |
| Number of shares issued | 6 649.3470 |
| Number of shares redeemed | -56 093.6270 |
| Number of shares outstanding at the end of the financial year | 123 998.5240 |
| Class | (GBP) P-dist |
| Number of shares outstanding at the beginning of the financial year | 32 074.2050 |
| Number of shares issued | 1 480.3520 |
| Number of shares redeemed | -10 626.4210 |
| Number of shares outstanding at the end of the financial year | 22 928.1360 |
| Class | P-mdist |
| Number of shares outstanding at the beginning of the financial year | 1 657.9160 |
| Number of shares issued | 556.9120 |
| Number of shares redeemed | -102.1360 |
| Number of shares outstanding at the end of the financial year | 2 112.6920 |
| Class | Q-acc |
| Number of shares outstanding at the beginning of the financial year | 240 022.6980 |
| Number of shares issued | 20 295.5280 |
| Number of shares redeemed | -134 640.0840 |
| Number of shares outstanding at the end of the financial year | 125 678.1420 |
| Class | (CHF) Q-acc |
| Number of shares outstanding at the beginning of the financial year | 79 392.2740 |
| Number of shares issued | 1 707.5710 |
| Number of shares redeemed | -73 862.3780 |
| Number of shares outstanding at the end of the financial year | 7 237.4670 |
| Class | (USD) Q-acc |
| Number of shares outstanding at the beginning of the financial year | 11 828.2770 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -4 974.5380 |
| Number of shares outstanding at the end of the financial year | 6 853.7390 |
| Class | Q-dist |
| Number of shares outstanding at the beginning of the financial year | 107 111.3160 |
| Number of shares issued | 4 846.6620 |
| Number of shares redeemed | -65 955.7050 |
| Number of shares outstanding at the end of the financial year | 46 002.2730 |

UBS (Lux) Equity SICAV – European High Dividend (EUR)
Annual report and audited financial statements as of 31 May 2020
| Class |  |  | (CHF hedged) Q-dist |
| --- | --- | --- | --- |
| Number of shares outstanding at the beginning of the financial year |  |  | 261 740.2050 |
| Number of shares issued |  |  | 6 090.9660 |
| Number of shares redeemed |  |  | -227 986.4460 |
| Number of shares outstanding at the end of the financial year |  |  | 39 844.7250 |
| Class |  |  | (GBP) Q-dist |
| Number of shares outstanding at the beginning of the financial year |  |  | 5 587.4860 |
| Number of shares issued |  |  | 2 810.9890 |
| Number of shares redeemed |  |  | -1 418.7770 |
| Number of shares outstanding at the end of the financial year |  |  | 6 979.6980 |
| Class |  |  | QL-acc |
| Number of shares outstanding at the beginning of the financial year |  |  | 0.0000 |
| Number of shares issued |  |  | 96 864.5350 |
| Number of shares redeemed |  |  | -15 561.3320 |
| Number of shares outstanding at the end of the financial year |  |  | 81 303.2030 |
| Class |  |  | (CHF) QL-acc |
| Number of shares outstanding at the beginning of the financial year |  |  | 0.0000 |
| Number of shares issued |  |  | 69 137.3890 |
| Number of shares redeemed |  |  | -2 472.4440 |
| Number of shares outstanding at the end of the financial year |  |  | 66 664.9450 |
| Class |  |  | (USD) QL-acc |
| Number of shares outstanding at the beginning of the financial year |  |  | 0.0000 |
| Number of shares issued |  |  | 820.9140 |
| Number of shares redeemed |  |  | -100.0000 |
| Number of shares outstanding at the end of the financial year |  |  | 720.9140 |
| Class |  |  | QL-dist |
| Number of shares outstanding at the beginning of the financial year |  |  | 0.0000 |
| Number of shares issued |  |  | 45 890.4030 |
| Number of shares redeemed |  |  | -2 204.1450 |
| Number of shares outstanding at the end of the financial year |  |  | 43 686.2580 |
| Class |  |  | (CHF hedged) QL-dist |
| Number of shares outstanding at the beginning of the financial year |  |  | 0.0000 |
| Number of shares issued |  |  | 154 387.4700 |
| Number of shares redeemed |  |  | -8 687.7480 |
| Number of shares outstanding at the end of the financial year |  |  | 145 699.7220 |
| Class |  |  | (GBP) QL-dist |
| Number of shares outstanding at the beginning of the financial year |  |  | 0.0000 |
| Number of shares issued |  |  | 577.2800 |
| Number of shares redeemed |  |  | -100.0000 |
| Number of shares outstanding at the end of the financial year |  |  | 477.2800 |
| Class |  |  | U-X-acc |
| Number of shares outstanding at the beginning of the financial year |  |  | 6 464.0100 |
| Number of shares issued |  |  | 476.0000 |
| Number of shares redeemed |  |  | -1 495.0100 |
| Number of shares outstanding at the end of the financial year |  |  | 5 445.0000 |
| Annual Distribution 1 |  |  |  |
| UBS (Lux) Equity SICAV – European High Dividend (EUR)	Ex-Date | Pay-Date | Currency | Amount per share |
| P-dist	1.8.2019 | 6.8.2019 | EUR | 3.36 |
| (CHF hedged) P-dist	1.8.2019 | 6.8.2019 | CHF | 3.38 |
| (GBP) P-dist	1.8.2019 | 6.8.2019 | GBP | 3.52 |
| Q-dist	1.8.2019 | 6.8.2019 | EUR | 3.11 |
| (CHF hedged) Q-dist	1.8.2019 | 6.8.2019 | CHF | 3.03 |
| (GBP) Q-dist	1.8.2019 | 6.8.2019 | GBP | 3.93 |
| Monthly Distribution 1 |  |  |  |
| UBS (Lux) Equity SICAV – European High Dividend (EUR)	Ex-Date | Pay-Date | Currency | Amount per share |
| N-8%-mdist	11.6.2019 | 14.6.2019 | EUR | 0.50 |
| N-8%-mdist	10.7.2019 | 15.7.2019 | EUR | 0.51 |
| N-8%-mdist	12.8.2019 | 16.8.2019 | EUR | 0.50 |
| N-8%-mdist	10.9.2019 | 13.9.2019 | EUR | 0.49 |
| N-8%-mdist	10.10.2019 | 15.10.2019 | EUR | 0.51 |
| N-8%-mdist	11.11.2019 | 14.11.2019 | EUR | 0.52 |
| N-8%-mdist	10.12.2019 | 13.12.2019 | EUR | 0.52 |
| N-8%-mdist	10.1.2020 | 15.1.2020 | EUR | 0.53 |
| N-8%-mdist	10.2.2020 | 13.2.2020 | EUR | 0.52 |
| N-8%-mdist	10.3.2020 | 13.3.2020 | EUR | 0.47 |
| N-8%-mdist	14.4.2020 | 17.4.2020 | EUR | 0.38 |
| N-8%-mdist	11.5.2020 | 14.5.2020 | EUR | 0.40 |
| 1  See note 5 |  |  |  |

UBS (Lux) Equity SICAV – European High Dividend (EUR) Annual report and audited financial statements as of 31 May 2020
| UBS (Lux) Equity SICAV |  |
| --- | --- |
| – European High Dividend (EUR) | Ex-Date | Pay-Date | Currency | Amount per share |
| P-mdist | 17.6.2019 | 20.6.2019 | EUR | 0.30 |
| P-mdist | 15.7.2019 | 18.7.2019 | EUR | 0.30 |
| P-mdist | 16.8.2019 | 21.8.2019 | EUR | 0.30 |
| P-mdist | 16.9.2019 | 19.9.2019 | EUR | 0.30 |
| P-mdist | 15.10.2019 | 18.10.2019 | EUR | 0.30 |
| P-mdist | 15.11.2019 | 20.11.2019 | EUR | 0.30 |
| P-mdist | 16.12.2019 | 19.12.2019 | EUR | 0.30 |
| P-mdist | 15.1.2020 | 20.1.2020 | EUR | 0.30 |
| P-mdist | 17.2.2020 | 20.2.2020 | EUR | 0.30 |
| P-mdist | 16.3.2020 | 19.3.2020 | EUR | 0.30 |
| P-mdist | 15.4.2020 | 20.4.2020 | EUR | 0.23 |
| P-mdist | 15.5.2020 | 20.5.2020 | EUR | 0.25 |

UBS (Lux) Equity SICAV – European 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 |  |  |  |
| Finland |  |  |  |
| EUR	KONE CORPORATION NPV ORD ‘B’ | 32 840.00 | 1 979 595.20 | 0.95 |
| Total Finland |  | 1 979 595.20 | 0.95 |
| France |  |  |  |
| EUR	AIR LIQUIDE(L’) EUR5.5 (POST-SUBDIVISION) | 16 967.00 | 2 071 670.70 | 1.00 |
| EUR	AXA EUR2.29 | 125 962.00 | 2 063 257.56 | 0.99 |
| EUR	BOUYGUES EUR1 | 75 559.00 | 2 080 894.86 | 1.00 |
| EUR	CAPGEMINI EUR8 | 23 374.00 | 2 152 745.40 | 1.04 |
| EUR	DANONE EUR0.25 | 33 686.00 | 2 073 710.16 | 1.00 |
| EUR	L’OREAL EUR0.20 | 8 052.00 | 2 108 818.80 | 1.01 |
| EUR	LEGRAND SA EUR4 | 34 462.00 | 2 112 520.60 | 1.02 |
| EUR	ORANGE EUR4 | 194 366.00 | 2 107 899.28 | 1.01 |
| EUR	PERNOD RICARD EUR1.55 | 14 616.00 | 2 047 701.60 | 0.99 |
| EUR	SANOFI EUR2 | 23 033.00 | 2 016 078.49 | 0.97 |
| EUR	SCHNEIDER ELECTRIC EUR8 | 24 564.00 | 2 192 091.36 | 1.06 |
| EUR	TOTAL EUR2.5 | 59 963.00 | 2 016 255.88 | 0.97 |
| EUR	VIVENDI SA EUR5.50 | 101 761.00 | 2 078 977.23 | 1.00 |
| Total France |  | 27 122 621.92 | 13.06 |
| Germany |  |  |  |
| EUR	BAYERISCHE MOTOREN WERKE AG EUR1 | 37 887.00 | 1 992 856.20 | 0.96 |
| EUR	BEIERSDORF AG NPV | 21 449.00 | 2 021 782.74 | 0.97 |
| EUR	DEUTSCHE WOHNEN AG NPV (BR) | 53 293.00 | 2 143 444.46 | 1.03 |
| Total Germany |  | 6 158 083.40 | 2.96 |
| Italy |  |  |  |
| EUR	ASSIC GENERALI SPA EUR1 | 164 013.00 | 2 047 702.31 | 0.99 |
| Total Italy |  | 2 047 702.31 | 0.99 |
| The Netherlands |  |  |  |
| EUR	KON KPN NV EUR0.04 | 932 884.00 | 2 056 076.34 | 0.99 |
| EUR	KONINKLIJKE AHOLD EUR0.01 | 92 384.00 | 2 107 279.04 | 1.01 |
| Total The Netherlands |  | 4 163 355.38 | 2.00 |
| Norway |  |  |  |
| NOK	ORKLA ASA NOK1.25 | 254 250.00 | 2 053 807.44 | 0.99 |
| NOK	YARA INTERNATIONAL NOK1.7 | 66 632.00 | 2 049 701.73 | 0.99 |
| Total Norway |  | 4 103 509.17 | 1.98 |
| Spain |  |  |  |
| EUR	ACS ACTIVIDADES CO EUR0.5 | 86 849.00 | 1 993 184.55 | 0.96 |
| EUR	AENA SME S.A. EUR10 | 17 750.00 | 2 275 550.00 | 1.10 |
| EUR	ENDESA SA EUR1.2 | 97 639.00 | 2 084 592.65 | 1.00 |
| EUR	IBERDROLA SA EUR0.75 (POST SUBDIVISION) | 224 301.00 | 2 173 028.09 | 1.05 |
| EUR	NATURGY ENERGY GRO EUR1 | 115 258.00 | 1 924 232.31 | 0.93 |
| EUR	RED ELECTRICA CORP EUR0.5 | 127 693.00 | 2 022 657.12 | 0.97 |
| EUR	REPSOL SA EUR1 | 246 471.00 | 2 062 962.27 | 0.99 |
| Total Spain |  | 14 536 206.99 | 7.00 |
| Sweden |  |  |  |
| SEK	ICA GRUPPEN AB | 51 020.00 | 2 153 977.24 | 1.04 |
| SEK	SVENSKA HANDELSBKN SER’A’NPV (P/S) | 244 822.00 | 2 083 084.02 | 1.00 |
| SEK	TELIA COMPANY AB NPV | 655 034.00 | 2 018 278.46 | 0.97 |
| Total Sweden |  | 6 255 339.72 | 3.01 |
| Switzerland |  |  |  |
| CHF	SWISS RE AG CHF0.10 | 32 979.00 | 2 009 660.17 | 0.97 |
| Total Switzerland |  | 2 009 660.17 | 0.97 |
| United Kingdom |  |  |  |
| GBP	ASTRAZENECA ORD USD0.25 | 21 174.00 | 2 019 168.71 | 0.97 |
| GBP	AVIVA ORD GBP0.25 | 757 633.00 | 2 085 774.24 | 1.00 |
| GBP	BARRATT DEVEL ORD GBP0.10 | 353 423.00 | 1 952 241.80 | 0.94 |
| GBP	BRIT AMER TOBACCO ORD GBP0.25 | 58 949.00 | 2 089 688.05 | 1.01 |
| GBP	BRITISH LAND CO PLC REIT | 455 193.00 | 2 060 593.83 | 0.99 |
| GBP	BT GROUP ORD GBP0.05 | 1 583 335.00 | 2 045 729.39 | 0.99 |
| GBP	HALMA ORD GBP0.10 | 81 923.00 | 2 121 505.58 | 1.02 |
| GBP	KINGFISHER ORD GBP0.157142857 | 968 432.00 | 2 090 262.20 | 1.01 |
| GBP	NATIONAL GRID ORD GBP0.12431289 | 202 784.00 | 2 087 022.26 | 1.00 |
| GBP	RECKITT BENCK GRP ORD GBP0.10 | 26 569.00 | 2 133 218.57 | 1.03 |
| GBP	SSE PLC ORD GBP0.50 | 151 352.00 | 2 088 417.38 | 1.01 |
| GBP	UNITED UTILITIES G ORD GBP0.05 | 200 556.00 | 2 045 368.08 | 0.98 |
| Total United Kingdom |  | 24 818 990.09 | 11.95 |
| Total Bearer shares |  | 93 195 064.35 | 44.87 |
| Participation certificates |  |  |  |
| Switzerland |  |  |  |
| CHF	LINDT & SPRUENGLI PTG CERT CHF10 | 270.00 | 2 023 797.38 | 0.97 |
| CHF	SCHINDLER-HLDG AG PTG CERT CHF0.10(POST-SUBD) | 9 726.00 | 2 030 507.44 | 0.98 |
| Total Switzerland |  | 4 054 304.82 | 1.95 |
| Total Participation certificates |  | 4 054 304.82 | 1.95 |

UBS (Lux) Equity SICAV – European High Dividend (EUR) Annual report and audited financial statements 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) |  |
| Other shares |  |  |  |
| Switzerland |  |  |  |
| CHF	ROCHE HLDGS AG GENUSSCHEINE NPV | 6 409.00 | 1 995 325.82 | 0.96 |
| Total Switzerland |  | 1 995 325.82 | 0.96 |
| Total Other shares |  | 1 995 325.82 | 0.96 |
| Preference shares |  |  |  |
| Germany |  |  |  |
| EUR	HENKEL AG&CO. KGAA NON-VTG PRF NPV	26 329.00 | 2 113 692.12 | 1.02 |
| Total Germany | 2 113 692.12 | 1.02 |
| Total Preference shares | 2 113 692.12 | 1.02 |
| Registered shares |  |  |  |
| Australia |  |  |  |  |
| GBP | BHP GROUP PLC ORD USD0.50 | 118 267.00 | 2 078 417.52 | 1.00 |
| Total Australia	2 078 417.52	1.00 |
| Belgium |  |  |  |  |
| EUR | UCB NPV | 24 761.00 | 2 228 490.00 | 1.07 |
| Total Belgium	2 228 490.00	1.07 |
| Denmark |  |  |  |  |
| DKK | COLOPLAST DKK1 B | 14 527.00 | 2 192 637.44 | 1.06 |
| DKK | NOVO-NORDISK AS DKK0.2 SER’B’ | 35 574.00 | 2 082 123.60 | 1.00 |
| Total Denmark	4 274 761.04	2.06 |
| Finland |  |  |  |  |
| EUR | ELISA OYJ NPV | 36 979.00 | 2 084 876.02 | 1.00 |
| EUR | FORTUM OYJ EUR3.40 | 115 996.00 | 1 997 451.12 | 0.96 |
| EUR | NOKIAN RENKAAT OYJ NPV | 89 220.00 | 1 868 266.80 | 0.90 |
| EUR | SAMPO PLC SER’A’NPV | 59 865.00 | 1 922 863.80 | 0.93 |
| EUR | UPM-KYMMENE CORP NPV | 76 352.00 | 1 982 861.44 | 0.96 |
| Total Finland	9 856 319.18	4.75 |
| France |  |  |  |  |
| EUR | MICHELIN (CGDE) EUR2 | 23 009.00 | 2 090 597.74 | 1.01 |
| Total France | 2 090 597.74 | 1.01 |
| Germany |  |  |  |  |
| EUR | ALLIANZ SE NPV(REGD)(VINKULIERT) | 12 567.00 | 2 046 158.94 | 0.98 |
| EUR | BASF SE NPV | 44 320.00 | 2 155 946.40 | 1.04 |
| EUR | BAYER AG NPV (REGD) | 34 089.00 | 2 069 884.08 | 1.00 |
| EUR | DEUTSCHE POST AG NPV(REGD) | 72 425.00 | 2 026 451.50 | 0.97 |
| EUR | DEUTSCHE TELEKOM NPV(REGD) | 146 215.00 | 2 072 597.63 | 1.00 |
| EUR | E.ON SE NPV | 204 606.00 | 1 944 984.64 | 0.94 |
| EUR | EVONIK INDUSTRIES NPV | 89 701.00 | 1 986 877.15 | 0.96 |
| EUR | MUENCHENER RUECKVE NPV(REGD) | 10 218.00 | 2 090 602.80 | 1.01 |
| EUR | SIEMENS AG NPV(REGD) | 21 145.00 | 2 083 416.85 | 1.00 |
| EUR | SIEMENS HEALTHINEE NPV | 45 445.00 | 2 111 601.93 | 1.02 |
| EUR | VONOVIA SE NPV | 40 325.00 | 2 088 028.50 | 1.00 |
| Total Germany	22 676 550.42	10.92 |
| Italy |  |  |  |  |
| EUR | ENI SPA EUR1 | 246 734.00 | 2 004 220.28 | 0.96 |
| EUR | SNAM EUR1 | 491 006.00 | 2 054 369.10 | 0.99 |
| Total Italy |  | 4 058 589.38 | 1.95 |
| The Netherlands |  |  |  |
| EUR	NN GROUP N.V. EUR0.12 | 74 493.00 | 2 068 670.61 | 1.00 |
| Total The Netherlands |  | 2 068 670.61 | 1.00 |
| Norway |  |  |  |
| NOK	EQUINOR ASA NOK2.50 | 156 176.00 | 2 038 828.76 | 0.98 |
| NOK	MOWI ASA NOK7.50 | 127 973.00 | 2 166 574.65 | 1.04 |
| NOK	TELENOR ASA ORD NOK6 | 153 370.00 | 2 090 852.88 | 1.01 |
| Total Norway |  | 6 296 256.29 | 3.03 |
| Sweden |  |  |  |
| SEK	ATLAS COPCO AB SER’A’NPV (POST SPLIT) | 57 757.00 | 2 035 401.24 | 0.98 |
| SEK	BOLIDEN AB NPV (POST SPLIT) | 107 055.00 | 2 086 634.62 | 1.00 |
| SEK	INVESTOR AB SER’B’NPV | 45 055.00 | 2 154 588.99 | 1.04 |
| SEK	SKAND ENSKILDA BKN SER’A’NPV | 275 173.00 | 2 146 435.74 | 1.03 |
| Total Sweden |  | 8 423 060.59 | 4.05 |
| Switzerland |  |  |  |
| CHF	ADECCO GROUP AG CHF0.1 (REGD) | 49 191.00 | 2 099 963.19 | 1.01 |
| CHF	EMS-CHEMIE HLDG AG CHF0.01(REGD)(POST RECON) | 3 137.00 | 2 085 688.04 | 1.01 |
| CHF	GIVAUDAN AG CHF10 | 659.00 | 2 125 677.85 | 1.02 |
| CHF	LAFARGEHOLCIM LTD CHF2 (REGD) | 56 019.00 | 2 083 214.38 | 1.00 |
| CHF	NOVARTIS AG CHF0.50(REGD) | 26 827.00 | 2 084 384.80 | 1.01 |
| CHF	SWISS LIFE HLDG CHF5.1(REGD) | 6 328.00 | 1 997 939.34 | 0.96 |
| CHF	SWISS PRIME SITE CHF15.3 (REGD) | 23 615.00 | 1 975 587.27 | 0.95 |
| CHF	SWISSCOM AG CHF1(REGD) | 4 539.00 | 2 122 888.50 | 1.02 |
| CHF	ZURICH INSURANCE GRP CHF0.10 | 7 047.00 | 2 040 965.55 | 0.98 |
| Total Switzerland |  | 18 616 308.92 | 8.96 |

UBS (Lux) Equity SICAV – European High Dividend (EUR)
Annual report and audited financial statements 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) |  |

United Kingdom
| GBP | ANGLO AMERICAN USD0.54945 | 109 825.00 | 2 075 801.38 | 1.00 |
| --- | --- | --- | --- | --- |
| GBP | BP ORD USD0.25 | 580 736.00 | 1 973 456.80 | 0.95 |
| GBP | DIAGEO ORD GBP0.28 101/108 | 63 979.00 | 1 984 275.11 | 0.96 |
| GBP | DIRECT LINE INSURA ORD GBP 0.109090909 | 661 528.00 | 1 945 451.83 | 0.94 |
| GBP | GLAXOSMITHKLINE ORD GBP0.25 | 111 252.00 | 2 067 162.22 | 0.99 |
| GBP | IMPERIAL BRANDS PL GBP0.10 | 124 973.00 | 2 036 951.43 | 0.98 |
| GBP | PERSIMMON ORD GBP0.10 | 81 567.00 | 2 078 743.74 | 1.00 |
| GBP | RIO TINTO ORD GBP0.10 | 43 843.00 | 2 101 658.42 | 1.01 |
| GBP | SMITH & NEPHEW ORD USD0.20 | 115 636.00 | 2 110 321.50 | 1.02 |
| GBP | TESCO ORD GBP0.05 | 803 165.00 | 2 037 948.00 | 0.98 |
| GBP | UNILEVER PLC ORD GBP0.031111 | 42 770.00 | 2 059 254.90 | 0.99 |
| Total United Kingdom | 22 471 025.33 | 10.82 |
| Total Registered shares | 105 139 047.02 | 50.62 |
| Total Transferable securities and money market instruments listed on an official stock exchange | 206 497 434.13 | 99.42 |
| Total investments in securities | 206 497 434.13 | 99.42 |
| Forward Foreign Exchange contracts |  |  |
| Forward Foreign Exchange contracts (Purchase/Sale) |  |  |

| CHF | 27 774 000.00 | EUR | 26 431 184.80 | 23.6.2020 | -436 122.36 | -0.21 |
| --- | --- | --- | --- | --- | --- | --- |
| EUR | 741 176.73 | CHF | 780 100.00 | 23.6.2020 | 11 042.50 | 0.00 |
| CHF | 767 400.00 | EUR | 723 659.83 | 23.6.2020 | -5 412.16 | 0.00 |
| CHF | 774 700.00 | EUR | 725 747.60 | 23.6.2020 | -667.49 | 0.00 |
| Total Forward Foreign Exchange contracts (Purchase/Sale) | -431 159.51 | -0.21 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 943 203.59 | 0.45 |
| Other assets and liabilities | 688 256.30 | 0.34 |
| Total net assets | 207 697 734.51 | 100.00 |

UBS (Lux) Equity SICAV – European 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