# Appendix 1 – Global Exposure (unaudited)
Risk management
Risk management in accordance with the commitment approach and the value-at-risk approach is applied pursuant to the applicable laws and regulatory provisions.
Leverage
Leverage is defined pursuant to the applicable ESMA directives as the total of the notional values of the derivatives used by the respective subfund. According to this definition, leverage may result in artificially increased leverage amounts, as some derivatives that can be used for hedging purposes may be included in the calculation. Conse- quently, this information does not necessarily reflect the precise actual leverage risk that the investor is exposed to.
| UBS (Lux) Bond Fund | Global risk calculation method | Model used | Min VaR (%) consumption | Max VaR (%) consumption | Avg VaR (%) consumption | Leverage as at 31.3.2023 (%) | Reference portfolio (benchmark) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| – Asia Flexible (USD)* | Relative VaR approach | Historical VaR | 36.8% | 47.6% | 42.1% | 58.1% | JP Morgan Asia Credit Index (JACI) USD |
| – AUD | Commitment approach |  |  |  |  |  |  |
| – CHF Flexible** | Absolute VaR approach | Historical VaR | 20.9% | 25.2% | 22.1% | 4.3% | n.a. |
| – Convert Europe (EUR) | Commitment approach |  |  |  |  |  |  |
| – EUR Flexible | Absolute VaR approach | Historical VaR | 23.8% | 77.5% | 56.8% | 256.6% | n.a. |
| – Euro High Yield (EUR) | Commitment approach |  |  |  |  |  |  |
| – Global Flexible | Absolute VaR approach | Historical VaR | 18.2% | 101.7% | 62.6% | 380.9% | n.a. |

- formerly UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD)** formerly UBS (Lux) Bond Fund – CHFUBS (Lux) Bond FundAnnual report and audited financial statement as of 31 March 2023

Translation (ENDE, 2023-03-31):
# Anhang 1 – Gesamtengagement (ungeprüfl)
Risikomanagement
Das Risikomanagement gemäss dem Commitment-Ansatz und dem Value-at-Risk-Ansatz erfolgt gemäss den anwendbaren Gesetzen und regulatorischen Vorschriften.
Hebelwirkung
Die Hebelwirkung wird gemäss den geltenden ESMA-Richtlinien als Gesamtbetrag der Nominalwerte der Derivative definiert, die vom jeweiligen Teilfonds verwendet werden. Gemäss dieser Definition kann die Hebelwirkung zu einer künstlich erhöhten Fremdkapitalquote führen, da bestimmte Derivate, die zu Absicherungszwecken eingesetzt werden können, unter Umständen in die Berechnung einfliessen. Daher spiegeln diese Informationen nicht notwen- digerweise das genaue tatsächliche Risiko der Hebelwirkung wider, dem der Anleger ausgesetzt ist.
| UBS (Lux) Bond Fund | Berechnungs- methode für das globale Risiko | Verwendetes Modell | Min VaR (%) Auslastung | Max VaR (%) Auslastung | Avg VaR (%) Auslastung | Durchschnittlicher Hebel 31.3.2023 (%) | Bezugs- portfolio (Benchmark) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| – Asia Flexible (USD)* | Relativer VaR-Ansatz | Historical VaR | 36.8% | 47.6% | 42.1% | 58.1% | JP Morgan Asia Credit Index (JACI) USD |
| – AUD | Commitment-Ansatz |  |  |  |  |  |  |
| – CHF Flexible** | Absoluter VaR-Ansatz | Historical VaR | 20.9% | 25.2% | 22.1% | 4.3% | n.a. |
| – Convert Europe (EUR) | Commitment-Ansatz |  |  |  |  |  |  |
| – EUR Flexible | Absoluter VaR-Ansatz | Historical VaR | 23.8% | 77.5% | 56.8% | 256.6% | n.a. |
| – Euro High Yield (EUR) | Commitment-Ansatz |  |  |  |  |  |  |
| – Global Flexible | Absoluter VaR-Ansatz | Historical VaR | 18.2% | 101.7% | 62.6% | 380.9% | n.a. |

- ehemals UBS (Lux) Bond Fund – Full Cycle Asian Bond (USD)** ehemals UBS (Lux) Bond Fund – CHFUBS (Lux) Bond FundJahresbericht und geprüfter Jahresabschluss per 31. März 2023