# UBS (Lux) Strategy SICAV – Income (EUR)
| Three-year comparison |  |
| --- | --- |
|  | ISIN | 31.5.2021 | 31.5.2020 | 31.5.2019 |
| Net assets in EUR |  | 100 874 100.83 | 100 158 358.40 | 107 331 540.01 |
| Class I-A3-acc 1 | LU2181696944 |  |  |  |
| Shares outstanding |  | 100.0000 | - | - |
| Net asset value per share in EUR |  | 100.09 | - | - |
| Issue and redemption price per share in EUR 2 |  | 100.09 | - | - |
| Class K-1-acc | LU1097600727 |  |  |  |
| Shares outstanding |  | 2.9000 | 2.6000 | 0.8000 |
| Net asset value per share in EUR |  | 3 404 357.39 | 3 165 207.33 | 3 182 771.19 |
| Issue and redemption price per share in EUR 2 |  | 3 404 357.39 | 3 165 207.33 | 3 182 771.19 |
| Class P-acc | LU0994951464 |  |  |  |
| Shares outstanding |  | 582 288.5580 | 625 633.7420 | 711 892.8620 |
| Net asset value per share in EUR |  | 114.81 | 107.19 | 108.24 |
| Issue and redemption price per share in EUR 2 |  | 114.81 | 107.19 | 108.24 |
| Class P-dist | LU0994669793 |  |  |  |
| Shares outstanding |  | 84 831.3180 | 93 314.8960 | 118 786.0750 |
| Net asset value per share in EUR |  | 106.10 | 100.30 | 102.70 |
| Issue and redemption price per share in EUR 2 |  | 106.10 | 100.30 | 102.70 |
| Class Q-acc | LU1240801263 |  |  |  |
| Shares outstanding |  | 107 896.3710 | 119 565.7870 | 116 025.6300 |
| Net asset value per share in EUR |  | 113.51 | 105.39 | 105.84 |
| Issue and redemption price per share in EUR 2 |  | 113.51 | 105.39 | 105.84 |
| Class Q-dist | LU1240801347 |  |  |  |
| Shares outstanding |  | 27 965.0630 | 29 564.9230 | 32 360.4170 |
| Net asset value per share in EUR |  | 103.41 | 98.20 | 100.54 |
| Issue and redemption price per share in EUR 2 |  | 103.41 | 98.20 | 100.54 |
| 1  First NAV: 1.7.2020 2  See note 1 |  |  |  |  |
| Performance |  |  |  |  |
|  | Currency | 2020/2021 | 2019/2020 | 2018/2019 |
| Class I-A3-acc 1 | EUR | - | - | - |
| Class K-1-acc | EUR | 7.6% | -0.6% | 0.3% |
| Class P-acc | EUR | 7.1% | -1.0% | -0.1% |
| Class P-dist | EUR | 7.1% | -1.0% | -0.1% |
| Class Q-acc | EUR | 7.7% | -0.4% | 0.4% |
| Class Q-dist | EUR | 7.7% | -0.4% | 0.4% |
| 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) Strategy SICAV – Income (EUR) Annual report and audited financial statements as of 31 May 2021

## Report of the Portfolio Manager
The financial year from 1 June 2020 to 31 May 2021 was shaped by the pandemic recovery. Since the peak of the pandemic in the spring, the market narrative has been dominated by the transition to a “new normal,” driven by the forces of technological disruption, deficit spending, and further central bank action, pointing to an accommo- dative policy and shifting towards more flexible inflation targets. Risk assets, in particular growth equities, posted strong gains earlier in the financial year as a combina- tion of lockdown measures being lifted in major econo- mies, promising news on pharmaceutical developments to combat the coronavirus, and continued monetary and fiscal policy support boosted investor confidence. Later in the financial year, the economic recovery and rising yields favored value over growth stocks.
Within Fixed Income, after significant spread widening during the first months of the COVID-19 induced lock- downs, a supportive risk-on sentiment caused spreads to tighten over the majority of the financial year while nominal yields stayed anchored to lower levels due to continued policy support. Only later in the financial year, inflation concerns resurrected, spurring a steepening of the yield curve in response to the expectation of rising long-term yields.
Over the financial year, the subfund generated a positive performance. While benefitting from narrowing credit spreads earlier in the financial year, rising inflation con- cerns and subsequent steepening of yield curves reduced gains slightly later on in the financial year. However, the subfund’s allocation to equities benefitted from the risk- on sentiment and subsequently also contributed positively to performance.

## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
Luxembourg	61.89
| United States | 15.08 |
| --- | --- |
| Germany | 5.64 |
| Ireland | 4.02 |
| France | 3.96 |
| The Netherlands | 1.04 |
| Belgium | 0.94 |
| Sweden | 0.83 |
| Norway | 0.63 |
| Austria | 0.53 |
| Australia | 0.53 |
| Spain | 0.53 |
| United Kingdom | 0.48 |
| China | 0.47 |
| Japan | 0.40 |
| Venezuela | 0.40 |
| South Korea | 0.30 |
| Canada | 0.28 |
| Switzerland | 0.21 |
| Supranationals | 0.03 |
| Total | 98.19 |

Economic Breakdown as a % of net assets	
| Investment funds | 64.85 |
| --- | --- |
| Countries & central governments | 23.52 |
| Banks & credit institutions | 5.96 |
| Supranational organisations | 1.22 |
| Finance & holding companies | 1.03 |
| Computer hardware & network equipment providers | 0.36 |
| Internet, software & IT services | 0.34 |
| Public, non-profit institutions | 0.32 |
| Pharmaceuticals, cosmetics & medical products | 0.30 |
| Cantons, federal states | 0.29 |
| Total | 98.19 |

UBS (Lux) Strategy SICAV – Income (EUR)
Annual report and audited financial statements as of 31 May 2021

## Statement of Net Assets
Assets	31.5.2021
EUR
Investments in securities, cost	92 186 392.64
| Investments in securities, unrealized appreciation (depreciation) | 	6 860 570.47	 |
| --- | --- |
| Total investments in securities (Note 1) | 99 046 963.11 |
| Cash at banks, deposits on demand and deposit accounts | 441 570.43 |
| Other liquid assets (Margins) | 822 407.41 |
| Receivable on securities sales (Note 1) | 511 189.36 |
| Interest receivable on securities | 172 122.06 |
| Other receivables | 46 973.09 |
| Unrealized gain on forward foreign exchange contracts (Note 1) | 696 643.15 |
| Total Assets | 101 737 868.61 |
|  |  |
| Liabilities |  |
| Unrealized loss on financial futures (Note 1) | -89 334.76 |
| Bank overdraft | -23 736.36 |
| Payable on redemptions | -576 453.33 |
| Provisions for flat fee (Note 2) | -150 090.49 |
| Provisions for taxe d’abonnement (Note 3) | -3 310.46 |
| Provisions for other commissions and fees (Note 2) | 	-20 842.38	 |
| Total provisions | -174 243.33 |
| Total Liabilities | -863 767.78 |
|  |  |
| Net assets at the end of the financial year | 100 874 100.83 |
| Statement of Operations | EUR |
| Income | 1.6.2020-31.5.2021 |
| Interest on liquid assets | 51.78 |
| Interest on securities | 529 557.00 |
| Interest received on swaps (Note 1) | 6 298.62 |
| Dividends | 180 432.41 |
| Income on securities lending (Note 15) | 21 037.57 |
| Other income (Note 4) | 42 313.84 |
| Total income | 779 691.22 |
|  |  |
| Expenses |  |
| Interest paid on swaps (Note 1) | -1.64 |
| Cost on securities lending (Note 15) | -8 415.03 |
| Flat fee (Note 2) | -1 208 950.04 |
| Taxe d’abonnement (Note 3) | -19 417.65 |
| Other commissions and fees (Note 2) | -20 954.43 |
| Interest on cash and bank overdraft | -6 854.27 |
| Total expenses | -1 264 593.06 |
|  |  |
| Net income (loss) on investments | -484 901.84 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | 2 355 756.94 |
| Realized gain (loss) on options | 483 046.82 |
| Realized gain (loss) on yield-evaluated securities and money market instruments | -4 537.86 |
| Realized gain (loss) on financial futures | -122 016.95 |
| Realized gain (loss) on forward foreign exchange contracts | 5 188 877.47 |
| Realized gain (loss) on swaps | 33 167.49 |
| Realized gain (loss) on foreign exchange | -312 966.83 |
| Total realized gain (loss) | 7 621 327.08 |
|  |  |
| Net realized gain (loss) of the financial year | 7 136 425.24 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | 816 959.86 |
| Unrealized appreciation (depreciation) on options | -144 681.42 |
| Unrealized appreciation (depreciation) on yield-evaluated securities and money market instruments | -5 346.68 |
| Unrealized appreciation (depreciation) on financial futures | -52 004.43 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | -577 901.45 |
| Unrealized appreciation (depreciation) on swaps | -32 759.31 |
| Total changes in unrealized appreciation (depreciation) | 4 266.57 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | 7 140 691.81 |

UBS (Lux) Strategy SICAV – Income (EUR) Annual report and audited financial statements as of 31 May 2021
| Statement of Changes in Net Assets |  |
| --- | --- |
|  |  | EUR |
|  |  | 1.6.2020-31.5.2021 |
| Net assets at the beginning of the financial year |  | 100 158 358.40 |
| Subscriptions |  | 9 464 308.25 |
| Redemptions |  | 	-15 708 149.31	 |
| Total net subscriptions (redemptions) |  | -6 243 841.06 |
| Dividend paid |  | -181 108.32 |
| Net income (loss) on investments |  | -484 901.84 |
| Total realized gain (loss) |  | 7 621 327.08 |
| Total changes in unrealized appreciation (depreciation) |  | 	4 266.57	 |
| Net increase (decrease) in net assets as a result of operations |  | 7 140 691.81 |
| Net assets at the end of the financial year |  | 100 874 100.83 |
| Changes in the Number of Shares outstanding |  |  |
|  |  | 1.6.2020-31.5.2021 |
| Class |  | I-A3-acc |
| Number of shares outstanding at the beginning of the financial year |  | 0.0000 |
| Number of shares issued |  | 200.0000 |
| Number of shares redeemed |  | -100.0000 |
| Number of shares outstanding at the end of the financial year |  | 100.0000 |
| Class |  | K-1-acc |
| Number of shares outstanding at the beginning of the financial year |  | 2.6000 |
| Number of shares issued |  | 0.5000 |
| Number of shares redeemed |  | -0.2000 |
| Number of shares outstanding at the end of the financial year |  | 2.9000 |
| Class |  | P-acc |
| Number of shares outstanding at the beginning of the financial year |  | 625 633.7420 |
| Number of shares issued |  | 62 359.1730 |
| Number of shares redeemed |  | -105 704.3570 |
| Number of shares outstanding at the end of the financial year |  | 582 288.5580 |
| Class |  | P-dist |
| Number of shares outstanding at the beginning of the financial year |  | 93 314.8960 |
| Number of shares issued |  | 3 351.4920 |
| Number of shares redeemed |  | -11 835.0700 |
| Number of shares outstanding at the end of the financial year |  | 84 831.3180 |
| Class |  | Q-acc |
| Number of shares outstanding at the beginning of the financial year |  | 119 565.7870 |
| Number of shares issued |  | 891.1080 |
| Number of shares redeemed |  | -12 560.5240 |
| Number of shares outstanding at the end of the financial year |  | 107 896.3710 |
| Class |  | Q-dist |
| Number of shares outstanding at the beginning of the financial year |  | 29 564.9230 |
| Number of shares issued |  | 3 000.0000 |
| Number of shares redeemed |  | -4 599.8600 |
| Number of shares outstanding at the end of the financial year |  | 27 965.0630 |
| Annual Distribution 1 |  |  |
| UBS (Lux) Strategy SICAV – Income (EUR)	Ex-Date | Pay-Date | Currency	Amount per share |
| P-dist	3.8.2020 | 6.8.2020 | EUR	1.27 |
| Q-dist	3.8.2020 | 6.8.2020 | EUR	2.25 |
| 1  See note 5 |  |  |

UBS (Lux) Strategy SICAV – Income (EUR)
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 EUR | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Transferable securities and money market instruments listed on an official stock exchange |  |  |  |
| Notes, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	CHINA, PEOPLE’S REPUBLIC OF-REG-S 0.12500% 19-12.11.26 | 175 000.00 | 175 142.19 | 0.17 |
| EUR	CHINA, PEOPLE’S REPUBLIC OF-REG-S 0.25000% 20-25.11.30 | 300 000.00 | 293 400.00 | 0.29 |
| EUR	NESTLE FINANCE INTERNATIONAL LTD-REG-S 0.37500% 20-12.05.32 | 78 000.00 | 76 984.90 | 0.08 |
| EUR	SWISSCOM FINANCE BV-REG-S 0.37500% 20-14.11.28 | 100 000.00 | 100 860.00 | 0.10 |
| Total EUR |  | 646 387.09 | 0.64 |
| Total Notes, fixed rate |  | 646 387.09 | 0.64 |
| Notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	SWEDBANK AB-REG-S 0.300%/VAR 21-20.05.27 | 140 000.00 | 139 932.80 | 0.14 |
| EUR	WESTPAC BANKING CORP-REG-SUB 0.766%/VAR 21-13.05.31 | 122 000.00 | 121 683.76 | 0.12 |
| Total EUR |  | 261 616.56 | 0.26 |
| Total Notes, floating rate |  | 261 616.56 | 0.26 |
| Medium term notes, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	AUSTRIA, REPUBLIC OF-144A-REG-S 0.75000% 18-20.02.28 | 200 000.00 | 213 654.00 | 0.21 |
| EUR	BNG BANK NV-REG-S 1.12500% 14-04.09.24 | 200 000.00 | 210 312.80 | 0.21 |
| EUR	COMMONWEALTH BANK OF AUSTRALIA 3.00000% 12-03.05.22 | 400 000.00 | 412 784.00 | 0.41 |
| EUR	CORPORACION ANDINA DE FOMENTO-REG-S 0.50000% 17-25.01.22 | 200 000.00 | 200 938.00 | 0.20 |
| EUR	CORPORACION ANDINA DE FOMENTO-REG-S 0.62500% 19-20.11.26 | 200 000.00 | 202 501.60 | 0.20 |
| EUR	DNB BANK ASA-REG-S 0.05000% 19-14.11.23 | 325 000.00 | 327 249.00 | 0.32 |
| EUR	DNB BOLIGKREDIT A-REG-S 1.87500% 12-21.11.22 | 300 000.00 | 310 495.80 | 0.31 |
| EUR	EUROPEAN INVESTMENT BANK 0.50000% 17-15.01.27 | 250 000.00 | 261 685.50 | 0.26 |
| EUR	EXPORT-IMPORT BANK OF KOREA-REG-S 0.37500% 19-26.03.24 | 300 000.00 | 304 650.00 | 0.30 |
| EUR	INSTITUTO DE CREDITO OFICIAL-REG-S 0.50000% 16-26.10.23 | 230 000.00 | 234 340.70 | 0.23 |
| EUR	KREDITANSTALT FUER WIEDERAUFBAU 4.62500% 07-04.01.23 | 600 000.00 | 650 464.80 | 0.65 |
| EUR	KREDITANSTALT FUER WIEDERAUFBAU 0.62500% 17-22.02.27 | 200 000.00 | 210 615.60 | 0.21 |
| EUR	LANDESBANK HESSEN-THUERINGEN GZ-REG-S 0.37500% 20-12.05.25 | 400 000.00 | 407 151.20 | 0.40 |
| EUR	LLOYDS BANK PLC-REG-S 0.25000% 19-25.03.24 | 120 000.00 | 121 968.00 | 0.12 |
| EUR	NATIONWIDE BUILDING SOCIETY 4.37500% 07-28.02.22 | 350 000.00 | 362 681.90 | 0.36 |
| EUR	NESTLE HOLDINGS INC-REG-S 0.87500% 17-18.07.25 | 280 000.00 | 290 857.84 | 0.29 |
| EUR	ORACLE CORP 3.12500% 13-10.07.25 | 300 000.00 | 338 499.00 | 0.34 |
| EUR	SKANDINAVISKA ENSKILDA BANKEN AB-REG-S 0.25000% 20-19.05.23 | 234 000.00 | 236 508.95 | 0.23 |
| EUR	SUMITOMO MITSUI BANKING CORP-REG-S 0.26700% 19-18.06.26 | 400 000.00 | 406 392.92 | 0.40 |
| Total EUR |  | 5 703 751.61 | 5.65 |
| Total Medium term notes, fixed rate |  | 5 703 751.61 | 5.65 |
| Medium term notes, zero coupon |  |  |  |
| EUR |  |  |  |
| EUR	NESTLE FINANCE INTERNATIONAL-REG-S 0.00000% 20-12.11.24 | 163 000.00 | 163 996.26 | 0.16 |
| Total EUR |  | 163 996.26 | 0.16 |
| Total Medium term notes, zero coupon |  | 163 996.26 | 0.16 |
| Medium term notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	BANCO BILBAO VIZCAYA ARGENTARIA-REG-S 0.125%/VAR 21-24.03.27 | 300 000.00 | 298 956.00 | 0.30 |
| Total EUR |  | 298 956.00 | 0.30 |
| Total Medium term notes, floating rate |  | 298 956.00 | 0.30 |
| Bonds, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	APPLE INC 0.87500% 17-24.05.25 | 350 000.00 | 363 584.90 | 0.36 |
| EUR	AUSTRIA, REPUBLIC OF-REG-S 1.20000% 15-20.10.25 | 300 000.00 | 322 537.80 | 0.32 |
| EUR	BELGIUM, KINGDOM OF-144A-REG-S 0.80000% 15-22.06.25 | 400 000.00 | 421 772.80 | 0.42 |
| EUR	BELGIUM, KINGDOM OF-144A-REG-S 0.50000% 17-22.10.24 | 200 000.00 | 207 415.60 | 0.21 |
| EUR	BELGIUM, KINGDOM OF-144A-REG-S 0.80000% 18-22.06.28 | 100 000.00 | 107 242.40 | 0.11 |
| EUR	BELGIUM, KINGDOM OF-144A-REG-S 0.90000% 19-22.06.29 | 200 000.00 | 216 260.00 | 0.21 |
| EUR	CAISSE D’AMOR DE LA DETTE SOCIALE-REG-S 2.37500% 13-25.01.24 | 300 000.00 | 322 932.60 | 0.32 |
| EUR	EUROPEAN FINANCIAL STABILITY FAC-REG-S 0.12500% 17-17.10.23 | 300 000.00 | 304 604.40 | 0.30 |
| EUR	EUROPEAN INVESTMENT BANK-REG-S 0.37500% 16-14.04.26 | 250 000.00 | 259 330.00 | 0.26 |
| EUR	FRANCE, REPUBLIC OF OAT 2.25000% 12-25.10.22 | 110 000.00 | 114 500.10 | 0.11 |
| EUR	FRANCE, REPUBLIC OF-OAT 2.75000% 12-25.10.27 | 350 000.00 | 418 407.50 | 0.41 |
| EUR	FRANCE, REPUBLIC OF-OAT 1.75000% 14-25.11.24 | 400 000.00 | 432 309.92 | 0.43 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 1.00000% 15-25.11.25 | 250 000.00 | 266 504.50 | 0.26 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.25000% 15-25.11.26 | 450 000.00 | 464 902.20 | 0.46 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.75000% 17-25.05.28 | 200 000.00 | 213 200.80 | 0.21 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.75000% 18-25.11.28 | 650 000.00 | 693 348.50 | 0.69 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.50000% 19-25.05.29 | 200 000.00 | 209 242.40 | 0.21 |
| EUR	GERMANY, REPUBLIC OF 1.50000% 13-15.05.23 | 200 000.00 | 208 608.80 | 0.21 |
| EUR	GERMANY, REPUBLIC OF 1.00000% 14-15.08.24 | 400 000.00 | 421 712.00 | 0.42 |
| EUR	GERMANY, REPUBLIC OF-REG-S 0.25000% 17-15.02.27 | 150 000.00 | 156 667.50 | 0.16 |

UBS (Lux) Strategy SICAV – Income (EUR) Annual report and audited financial statements as of 31 May 2021
|  | Description | Quantity/ | Valuation in EUR | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| EUR | GERMANY, REPUBLIC OF-REG-S 0.50000% 17-15.08.27 | 200 000.00 | 212 387.32 | 0.21 |
| EUR | GERMANY, REPUBLIC OF-REG-S 0.50000% 18-15.02.28 | 300 000.00 | 319 303.20 | 0.32 |
| EUR | GERMANY, REPUBLIC OF 4.75000% 98-04.07.28 | 500 000.00 | 687 750.00 | 0.68 |
| EUR | GERMANY, REPUBLIC OF 5.50000% 00-04.01.31 | 600 000.00 | 937 816.80 | 0.93 |
| EUR | JOHNSON & JOHNSON 0.65000% 16-20.05.24 | 300 000.00 | 307 599.00 | 0.30 |
| EUR | KREDITANSTALT FUER WIEDERAUFBAU 0.25000% 18-15.09.25 | 200 000.00 | 205 889.60 | 0.20 |
| EUR | NETHERLANDS, KINGDOM OF THE 2.00000% 14-15.07.24 | 400 000.00 | 433 440.00 | 0.43 |
| EUR | NORDRHEIN-WESTFALEN, STATE OF 4.37500% 07-29.04.22 | 280 000.00 | 292 612.32 | 0.29 |
| EUR | RABOBANK NEDERLAND NV-REG-S 0.25000% 19-30.10.26 | 300 000.00 | 302 646.00 | 0.30 |
| EUR | SKANDINAVISKA ENSKILDA BANKEN AB-REG-S 0.37500% 19-09.02.26 | 150 000.00 | 154 618.50 | 0.15 |
| EUR | STADSHYPOTEK AB-REG-S 0.50000% 18-11.07.25 | 300 000.00 | 310 292.40 | 0.31 |
| Total EUR |  |  | 10 289 439.86 | 10.20 |
| Total Bonds, fixed rate |  | 10 289 439.86 | 10.20 |
| Bonds, zero coupon |  |  |  |
| EUR |  |  |  |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.00000% 17-25.03.23 | 300 000.00 | 303 522.00 | 0.30 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.00000% 18-25.03.24 | 300 000.00 | 305 025.00 | 0.30 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.00000% 19-25.03.25 | 250 000.00 | 254 865.00 | 0.25 |
| EUR	GERMANY, REPUBLIC OF-REG-S 0.00000% 16-15.08.26 | 350 000.00 | 360 200.40 | 0.36 |
| EUR	GERMANY, REPUBLIC OF-REG-S 0.00000% 19-15.08.29 | 600 000.00 | 615 667.20 | 0.61 |
| EUR	TORONTO DOMINION BANK-REG-S 0.00000% 19-09.02.24 | 280 000.00 | 282 870.00 | 0.28 |
| Total EUR |  | 2 122 149.60 | 2.10 |
| Total Bonds, zero coupon |  | 2 122 149.60 | 2.10 |
| Bonds, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	UBS GROUP AG-REG-S 1.250%/VAR 18-17.04.25 | 200 000.00 | 206 654.00 | 0.21 |
| Total EUR |  | 206 654.00 | 0.21 |
| Total Bonds, floating rate |  | 206 654.00 | 0.21 |
| Treasury notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 5.37500% 01-15.02.31 | 2 098 000.00 | 2 311 029.20 | 2.29 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.08.27 | 2 630 000.00 | 2 299 623.26 | 2.28 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.11.27 | 2 600 000.00 | 2 271 979.67 | 2.25 |
| USD	AMERICA, UNITED STATES OF 2.87500% 18-31.05.25 | 260 000.00 | 232 123.87 | 0.23 |
| USD	AMERICA, UNITED STATES OF 2.75000% 14-15.02.24 | 530 000.00 | 462 710.99 | 0.46 |
| USD	AMERICA, UNITED STATES OF 1.12500% 16-31.07.21 | 720 000.00 | 589 960.30 | 0.58 |
| USD	AMERICA, UNITED STATES OF 1.75000% 12-15.05.22 | 560 000.00 | 465 357.00 | 0.46 |
| USD	AMERICA, UNITED STATES OF 1.37500% 16-30.09.23 | 280 000.00 | 235 299.61 | 0.23 |
| USD	AMERICA, UNITED STATES OF 2.12500% 15-15.05.25 | 1 680 000.00 | 1 458 601.71 | 1.45 |
| USD	AMERICA, UNITED STATES OF 1.75000% 19-15.11.29 | 1 300 000.00 | 1 088 392.14 | 1.08 |
| USD	AMERICA, UNITED STATES OF 0.25000% 20-31.07.25 | 435 000.00 | 350 558.98 | 0.35 |
| Total USD |  | 11 765 636.73 | 11.66 |
| Total Treasury notes, fixed rate |  | 11 765 636.73 | 11.66 |
| Treasury notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 3.875%/CPI LINKED 99-15.04.29 | 110 000.00 | 205 201.30 | 0.20 |
| USD	AMERICA, UNITED STATES OF 2.375%/CPI LINKED 04-15.01.25 | 190 000.00 | 256 674.44 | 0.25 |
| USD	AMERICA, UNITED STATES OF 0.625%/CPI LINKED 16-15.01.26 | 205 000.00 | 209 960.91 | 0.21 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 17-15.01.27 | 210 000.00 | 210 583.71 | 0.21 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI INDEX 13-15.07.23 | 210 000.00 | 209 543.09 | 0.21 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 15-15.07.25 | 260 000.00 | 263 899.60 | 0.26 |
| USD	AMERICA, UNITED STATES OF 0.750%/CPI LINKED 18-15.07.28 | 180 000.00 | 179 393.87 | 0.18 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 20-15.01.30 | 245 000.00 | 226 912.37 | 0.23 |
| Total USD |  | 1 762 169.29 | 1.75 |
| Total Treasury notes, floating rate |  | 1 762 169.29 | 1.75 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 33 220 757.00 | 32.93 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Treasury notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 12-15.07.22 | 210 000.00 | 206 145.73 | 0.20 |
| Total USD |  | 206 145.73 | 0.20 |
| Total Treasury notes, floating rate |  | 206 145.73 | 0.20 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 206 145.73 | 0.20 |

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

UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010
Investment funds, open end
| Ireland |  |
| --- | --- |
| USD | ISHARES MSCI USA ESG SCREENED UCITS ETF UNHEGDED USD-CAP | 1.00 | 6.69 | 0.00 |
| USD | ISHRS III PLC-MSCI WORLD SML CAP UCITS ETF-UNHDG USD-ACC | 342 604.00 | 2 055 371.81 | 2.04 |
| USD | XTRACKERS MSCI WORLD ENERGY UCITS ETF-1C-ACCUM | 85 963.00 | 2 003 799.53 | 1.99 |
| Total Ireland |  | 4 059 178.03 | 4.03 |
| Luxembourg |  |  |  |
| USD	LYXOR ETF WORLD FINANCIALS TR USD-C | 10 294.00 | 2 057 031.92 | 2.04 |
| EUR	UBS (LUX) BOND FUND - EURO HIGH YIELD (EUR) I-X-ACC | 14 467.00 | 2 055 616.03 | 2.04 |
| EUR	UBS (LUX) BOND SICAV - EUR CORP SUSTAINABLE (EUR) U-X-ACC | 1 197.00 | 15 155 384.58 | 15.02 |
| USD	UBS (LUX) BOND SICAV - USD HIGH YIELD U-X-ACC | 284.00 | 5 031 175.04 | 4.99 |
| USD	UBS (LUX) BOND SICAV - EMERGING ECONOMIES CORP (USD)-I-X-DIS | 34 296.00 | 3 179 529.38 | 3.15 |
| USD	UBS (LUX) BOND SICAV - USD INVEST GRADE CORP USD U X ACC | 1 411.12 | 14 139 501.25 | 14.02 |
| USD	UBS (LUX) EMERGING ECONOMIES FUND-GLOBAL BONDS (USD)-U-X ACC | 404.00 | 4 832 466.49 | 4.79 |
| EUR	UBS (LUX) EQUITY FUND - EURO COUNTRIES OPPORT U-X-ACC | 187.00 | 5 366 780.32 | 5.32 |
| USD	UBS (LUX) EQUITY FUND - GLOBAL SUSTAINABLE (USD) U-X-ACC | 170.00 | 2 112 331.17 | 2.09 |
| USD	UBS (LUX) EQUITY SICAV - GLB EM OPP(USD)-U-X-ACC | 12.00 | 394 511.40 | 0.39 |
| USD	UBS (LUX) EQUITY SICAV-GLOBAL QUANTITATIVE (USD) U-X-ACC | 131.00 | 2 120 076.40 | 2.10 |
| USD	UBS (LUX) EQUITY SICAV - GLOBAL OPPORTUNITY (USD) U-X-ACC | 208.00 | 2 075 229.77 | 2.06 |
| USD	UBS (LUX) INST FUND-KEY SEL. GLOBAL EQUITY FA-USD | 73.00 | 2 095 563.02 | 2.08 |
| USD	UBS (LUX) INSTITUTION SICAV-EQUITIES GLB (EX USA) PASSIVE XA | 7 224.00 | 747 540.57 | 0.74 |
| Total Luxembourg |  | 61 362 737.34 | 60.83 |
| Total Investment funds, open end |  | 65 421 915.37 | 64.86 |
| Total UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 |  | 65 421 915.37 | 64.86 |
| Derivative instruments listed on an official stock exchange |  |  |  |
| Warrants on currencies |  |  |  |
| United States |  |  |  |
| USD	GOLDMAN SACHS FIN/EUR/USD PUT WARRANT 1.110000 21-17.09.21 | 30 200.00 | 66 691.20 | 0.07 |
| Total United States |  | 66 691.20 | 0.07 |
| Total Warrants on currencies |  | 66 691.20 | 0.07 |
| Options on indices, classic-styled |  |  |  |
| USD |  |  |  |
| USD	S&P 500 INDEX PUT 3400.00000 18.06.21 | -6.00 | -613.42 | 0.00 |
| USD	S&P 500 INDEX CALL 4375.00000 18.06.21 | -6.00 | -858.79 | 0.00 |
| USD	S&P 500 INDEX CALL 4000.00000 18.06.21 | 6.00 | 108 045.64 | 0.11 |
| USD	MSCI EM INDEX CALL 1375.00000 17.09.21 | 18.00 | 54 030.18 | 0.05 |
| USD	MSCI EM INDEX PUT 1200.00000 17.09.21 | -18.00 | -20 316.53 | -0.02 |
| USD	MSCI EM INDEX CALL 1500.00000 17.09.21 | -18.00 | -8 833.27 | -0.01 |
| Total USD |  | 131 453.81 | 0.13 |
| Total Options on indices, classic-styled |  | 131 453.81 | 0.13 |
| Total Derivative instruments listed on an official stock exchange |  | 198 145.01 | 0.20 |
| Total investments in securities |  | 99 046 963.11 | 98.19 |

| Derivative instruments |  |
| --- | --- |
| Derivative instruments listed on an official stock exchange Financial Futures on bonds |
|  |  |  |  |
| USD	US 5YR TREASURY NOTE FUTURE 30.09.21 | -40.00 | -3 067.11 | 0.00 |
| Total Financial Futures on bonds |  | -3 067.11 | 0.00 |
| Financial Futures on Indices |  |  |  |
|  |  |  |  |
| EUR	EURO STOXX 50 INDEX FUTURE 18.06.21 | -51.00 | -122 640.00 | -0.12 |
| CHF	SWISS MARKET INDEX FUTURE 18.06.21 | 17.00 | 98 482.14 | 0.10 |
| GBP	FTSE 100 INDEX FUTURE 18.06.21 | -4.00 | -13 207.57 | -0.02 |
| USD	S&P500 EMINI FUTURE 18.06.21 | -15.00 | -43 702.20 | -0.05 |
| AUD	SPI 200 INDEX FUTURES 17.06.21 | -2.00 | -12 915.08 | -0.01 |
| JPY	NIKKEI 225 (OSE) INDEX FUTURE 10.06.21 | 6.00 | 25 420.22 | 0.03 |
| CAD	S&P/TSX 60 INDEX FUTURE 17.06.21 | -2.00 | -17 705.16 | -0.02 |
| Total Financial Futures on Indices |  | -86 267.65 | -0.09 |
| Total Derivative instruments listed on an official stock exchange |  | -89 334.76 | -0.09 |
| Total Derivative instruments |  | -89 334.76 | -0.09 |

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

Forward Foreign Exchange contracts
Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date
| EUR | 261 919.68 | GBP | 224 741.49 | 4.6.2021 | 631.96 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| EUR | 90 741.55 | DKK | 675 000.00 | 4.6.2021 | -16.40 | 0.00 |
| CAD | 343 416.38 | EUR | 230 965.04 | 4.6.2021 | 1 525.51 | 0.00 |
| EUR | 134 909.76 | HKD | 1 250 000.00 | 4.6.2021 | 3 185.75 | 0.00 |
| EUR | 63 498.11 | CHF | 70 000.00 | 4.6.2021 | -162.35 | 0.00 |
| SGD | 460 000.00 | EUR | 286 349.77 | 4.6.2021 | -1 537.84 | 0.00 |
| EUR | 54 431.55 | AUD | 83 962.89 | 4.6.2021 | 1 276.24 | 0.00 |
| EUR | 894 960.94 | JPY | 116 381 794.00 | 4.6.2021 | 24 840.59 | 0.03 |
| EUR | 30 690.74 | SEK | 311 304.49 | 4.6.2021 | -14.20 | 0.00 |
| NOK | 2 824 862.01 | EUR | 279 240.70 | 4.6.2021 | -1 523.47 | 0.00 |
| EUR | 22 853 760.34 | USD | 27 265 450.24 | 4.6.2021 | 553 956.16 | 0.55 |
| EUR | 304 127.63 | NOK | 3 100 000.00 | 4.6.2021 | -638.91 | 0.00 |
| JPY | 69 500 000.00 | EUR | 535 621.78 | 4.6.2021 | -16 009.89 | -0.02 |
| USD | 1 150 000.00 | EUR | 964 108.34 | 4.6.2021 | -23 548.97 | -0.02 |
| EUR | 263 050.04 | AUD | 405 000.00 | 4.6.2021 | 6 652.25 | 0.01 |
| EUR | 147 424.13 | CAD | 220 000.00 | 4.6.2021 | -1 514.37 | 0.00 |
| INR | 61 360 000.00 | USD | 836 651.21 | 11.6.2021 | 6 470.94 | 0.01 |
| IDR | 12 078 280 000.00 | USD | 830 750.40 | 11.6.2021 | 13 431.95 | 0.01 |
| USD | 851 493.57 | TWD | 24 030 000.00 | 11.6.2021 | -17 379.14 | -0.02 |
| TWD | 24 030 000.00 | USD | 859 503.54 | 11.6.2021 | 10 874.44 | 0.01 |
| USD | 812 016.15 | INR | 61 360 000.00 | 11.6.2021 | -26 630.31 | -0.03 |
| USD | 826 769.80 | IDR | 12 078 280 000.00 | 11.6.2021 | -16 659.29 | -0.02 |
| EUR | 343 123.37 | SGD | 550 000.00 | 4.6.2021 | 2 587.36 | 0.00 |
| AUD | 520 000.00 | EUR | 333 219.25 | 4.6.2021 | -4 017.14 | 0.01 |
| EUR | 911 251.55 | USD | 1 100 000.00 | 4.6.2021 | 11 586.06 | 0.01 |
| EUR | 55 833.99 | USD | 67 500.00 | 4.6.2021 | 627.24 | 0.00 |
| CHF | 41 000.00 | EUR | 37 149.43 | 4.6.2021 | 137.41 | 0.00 |
| EUR | 25 551.61 | USD | 31 000.00 | 4.6.2021 | 197.40 | 0.00 |
| JPY | 4 000 000.00 | EUR | 30 284.01 | 4.6.2021 | -378.29 | 0.00 |
| EUR | 194 808.20 | USD | 235 000.00 | 4.6.2021 | 2 606.94 | 0.00 |
| CAD | 35 000.00 | EUR | 23 601.08 | 4.6.2021 | 93.68 | 0.00 |
| CHF | 27 000.00 | EUR | 24 614.60 | 4.6.2021 | -59.85 | 0.00 |
| JPY | 4 000 000.00 | EUR | 30 499.32 | 4.6.2021 | -593.60 | 0.00 |
| USD | 17 000.00 | EUR | 14 110.05 | 4.6.2021 | -206.13 | 0.00 |
| AUD | 17 000.00 | EUR | 10 932.69 | 4.6.2021 | -170.31 | 0.00 |
| JPY | 1 500 000.00 | EUR | 11 394.06 | 4.6.2021 | -179.41 | 0.00 |
| CHF | 2 000.00 | EUR | 1 825.76 | 4.6.2021 | -6.89 | 0.00 |
| EUR | 15 498.46 | CHF | 17 000.00 | 4.6.2021 | 38.06 | 0.00 |
| EUR | 15 502.01 | CHF | 17 000.00 | 14.7.2021 | 37.67 | 0.00 |
| EUR | 269 551.07 | JPY | 35 693 785.00 | 14.7.2021 | 2 815.44 | 0.00 |
| EUR | 270 115.65 | CAD | 397 662.61 | 14.7.2021 | 1 129.37 | 0.00 |
| EUR | 29 575.72 | NOK | 294 818.15 | 14.7.2021 | 612.24 | 0.00 |
| EUR | 90 756.98 | DKK | 675 000.00 | 14.7.2021 | 11.55 | 0.00 |
| EUR | 247 033.22 | CHF | 270 329.02 | 14.7.2021 | 1 123.81 | 0.00 |
| SGD | 90 000.00 | EUR | 55 791.96 | 14.7.2021 | -118.26 | 0.00 |
| EUR | 134 524.59 | HKD | 1 270 000.00 | 14.7.2021 | 786.26 | 0.00 |
| NZD | 5 000.00 | EUR | 2 991.26 | 14.7.2021 | -16.82 | 0.00 |
| EUR | 229 339.72 | GBP | 198 212.70 | 14.7.2021 | -934.46 | 0.00 |
| EUR | 90 630.76 | SEK | 917 680.85 | 14.7.2021 | 157.97 | 0.00 |
| EUR | 148 041.92 | AUD | 229 214.05 | 14.7.2021 | 3 018.81 | 0.00 |
| EUR | 22 519 784.17 | USD | 27 380 015.25 | 14.7.2021 | 143 885.93 | 0.14 |
| EUR | 52 770.09 | JPY | 7 000 000.00 | 4.6.2021 | 435.08 | 0.00 |
| EUR | 52 745.84 | JPY | 7 000 000.00 | 14.7.2021 | 435.63 | 0.00 |
| SGD | 1 640 000.00 | EUR | 1 007 556.68 | 14.7.2021 | 6 941.88 | 0.01 |
| SGD | 1 640 000.00 | EUR | 1 008 486.04 | 4.6.2021 | 6 930.42 | 0.01 |
| EUR | 74 889.06 | GBP | 64 500.00 | 14.7.2021 | -44.00 | 0.00 |
| EUR | 74 943.27 | GBP | 64 500.00 | 4.6.2021 | -45.37 | 0.00 |
| EUR | 254 281.78 | USD | 310 000.00 | 1.6.2021 | 734.16 | 0.00 |
| EUR | 100 769.58 | JPY | 13 500 000.00 | 1.6.2021 | -163.64 | 0.00 |
| USD | 150 000.00 | EUR | 122 938.93 | 14.7.2021 | -353.73 | 0.00 |
| JPY | 6 750 000.00 | EUR | 50 383.02 | 4.6.2021 | 82.88 | 0.00 |
| JPY | 6 750 000.00 | EUR | 50 360.06 | 14.7.2021 | 81.93 | 0.00 |
| USD | 160 000.00 | EUR | 131 235.21 | 4.6.2021 | -374.78 | 0.00 |
| Total Forward Foreign Exchange contracts | 696 643.15 | 0.69 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 1 263 977.84 | 1.25 |
| Bank overdraft and other short-term liabilities | -23 736.36 | -0.02 |
| Other assets and liabilities | -20 412.15 | -0.02 |
| Total net assets | 100 874 100.83 | 100.00 |

UBS (Lux) Strategy SICAV – Income (EUR)
Annual report and audited financial statements as of 31 May 2021

Translation (ENDE, 2021-05-31):
# UBS (Lux) Strategy SICAV – Income (EUR)
| Dreijahresvergleich |  |
| --- | --- |
|  | ISIN | 31.5.2021 | 31.5.2020 | 31.5.2019 |
| Nettovermögen in EUR |  | 100 874 100.83 | 100 158 358.40 | 107 331 540.01 |
| Klasse I-A3-acc 1 | LU2181696944 |  |  |  |
| Aktien im Umlauf |  | 100.0000 | - | - |
| Nettoinventarwert pro Aktie in EUR |  | 100.09 | - | - |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 2 |  | 100.09 | - | - |
| Klasse K-1-acc | LU1097600727 |  |  |  |
| Aktien im Umlauf |  | 2.9000 | 2.6000 | 0.8000 |
| Nettoinventarwert pro Aktie in EUR |  | 3 404 357.39 | 3 165 207.33 | 3 182 771.19 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 2 |  | 3 404 357.39 | 3 165 207.33 | 3 182 771.19 |
| Klasse P-acc | LU0994951464 |  |  |  |
| Aktien im Umlauf |  | 582 288.5580 | 625 633.7420 | 711 892.8620 |
| Nettoinventarwert pro Aktie in EUR |  | 114.81 | 107.19 | 108.24 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 2 |  | 114.81 | 107.19 | 108.24 |
| Klasse P-dist | LU0994669793 |  |  |  |
| Aktien im Umlauf |  | 84 831.3180 | 93 314.8960 | 118 786.0750 |
| Nettoinventarwert pro Aktie in EUR |  | 106.10 | 100.30 | 102.70 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 2 |  | 106.10 | 100.30 | 102.70 |
| Klasse Q-acc | LU1240801263 |  |  |  |
| Aktien im Umlauf |  | 107 896.3710 | 119 565.7870 | 116 025.6300 |
| Nettoinventarwert pro Aktie in EUR |  | 113.51 | 105.39 | 105.84 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 2 |  | 113.51 | 105.39 | 105.84 |
| Klasse Q-dist | LU1240801347 |  |  |  |
| Aktien im Umlauf |  | 27 965.0630 | 29 564.9230 | 32 360.4170 |
| Nettoinventarwert pro Aktie in EUR |  | 103.41 | 98.20 | 100.54 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 2 |  | 103.41 | 98.20 | 100.54 |
| 1  Erste NAV 1.7.2020 2  Siehe Erläuterung 1 |  |  |  |  |
| Performance |  |  |  |  |
|  | Währung | 2020/2021 | 2019/2020 | 2018/2019 |
| Klasse I-A3-acc 1 | EUR | - | - | - |
| Klasse K-1-acc | EUR | 7.6% | -0.6% | 0.3% |
| Klasse P-acc | EUR | 7.1% | -1.0% | -0.1% |
| Klasse P-dist | EUR | 7.1% | -1.0% | -0.1% |
| Klasse Q-acc | EUR | 7.7% | -0.4% | 0.4% |
| Klasse Q-dist | EUR | 7.7% | -0.4% | 0.4% |
| 1  Auf Grund der Neulancierung 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.
Der Subfonds verfügt über keine Benchmark.
UBS (Lux) Strategy SICAV – Income (EUR)
Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2021

## Bericht des Portfolio Managers
Das Rechnungsjahr vom 1. Juni 2020 bis zum 31. Mai 2021 war von der Erholung von der Pandemie geprägt. Seit dem Höhepunkt der Pandemie im Frühjahr wurde das Marktnarrativ vom Übergang hin zu einer «neuen Norma- lität» dominiert, der von den Kräften der technologischen Disruption, der Defizitfinanzierung und weiteren Zentral- bankmassnahmen vorangetrieben wird. Die Zentralban- ken deuteten eine Fortsetzung der akkommodierenden Geldpolitik und den Umstieg auf flexible Inflationsziele hin. Zu Beginn des Finanzjahres legten Risikoanlagen, ins- besondere Wachstumsaktien, kräftig zu. Die Kombination aus der Aufhebung von Lockdown-Massnahmen in gro- ssen Volkswirtschaften, vielversprechenden Meldungen über pharmazeutische Entwicklungen bei der Bekämp- fung des Coronavirus und der fortgesetzten geld- und fiskalpolitischen Unterstützung stärkte das Vertrauen der Anleger. Später im Rechnungsjahr kamen die Konjunk- turerholung und steigende Renditen Substanzwerten stärker zugute als Wachstumsaktien.
Im festverzinslichen Bereich führte die zunehmende Risikobereitschaft, die auf die signifikante Ausweitung der Risikoprämien (Spreads) in den ersten Monaten nach den Lockdowns wegen Covid-19 folgte, zu einer Verengung der Spreads im Grossteil des restlichen Finanz- jahres, während die nominalen Renditen aufgrund der fortgesetzten geldpolitischen Unterstützung auf tieferen Niveaus verankert waren. Erst später im Rechnungsjahr kamen allmählich Bedenken über die Inflation auf. Dies führte zur Versteilerung der Renditekurve in Erwartung steigender langfristiger Renditen.
Im Rechnungsjahr erwirtschaftete der Subfonds eine positive Performance. Während er zu Beginn des Rechnungsjahres von der Verengung der Kreditspreads profitiert hatte, wurden die Gewinne später im Rech- nungsjahr durch die zunehmenden Inflationsbedenken und die anschliessende Versteilerung der Renditekurven etwas gemindert. Die Aktienallokation des Subfonds pro- fitierte von der Risikobereitschaft und trug anschliessend ebenfalls positiv zur Wertentwicklung bei.

## Struktur des Wertpapierbestandes
Geographische Aufteilung in % des Nettovermögens	
Luxemburg	61.89
| Vereinigte Staaten | 15.08 |
| --- | --- |
| Deutschland | 5.64 |
| Irland | 4.02 |
| Frankreich | 3.96 |
| Niederlande | 1.04 |
| Belgien | 0.94 |
| Schweden | 0.83 |
| Norwegen | 0.63 |
| Österreich | 0.53 |
| Australien | 0.53 |
| Spanien | 0.53 |
| Grossbritannien | 0.48 |
| China | 0.47 |
| Japan | 0.40 |
| Venezuela | 0.40 |
| Südkorea | 0.30 |
| Kanada | 0.28 |
| Schweiz | 0.21 |
| Supranational | 0.03 |
| Total | 98.19 |

Wirtschaftliche Aufteilung in % des Nettovermögens	
| Anlagefonds | 64.85 |
| --- | --- |
| Länder- & Zentralregierungen | 23.52 |
| Banken & Kreditinstitute | 5.96 |
| Supranationale Organisationen | 1.22 |
| Finanz- & Beteiligungsgesellschaften | 1.03 |
| Computer & Netzwerkausrüster | 0.36 |
| Internet, Software & IT-Dienste | 0.34 |
| Öffentlich-rechtliche Körperschaften | 0.32 |
| Pharmazeutik, Kosmetik & medizinische Produkte | 0.30 |
| Kantone, Bundesstaaten | 0.29 |
| Total | 98.19 |

UBS (Lux) Strategy SICAV – Income (EUR) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2021

## Nettovermögensaufstellung
Aktiva	31.5.2021
EUR
Wertpapierbestand, Einstandswert	92 186 392.64
| Wertpapierbestand, nicht realisierte Werterhöhung (-minderung) | 	6 860 570.47	 |
| --- | --- |
| Total Wertpapierbestand (Erläuterung 1) | 99 046 963.11 |
| Bankguthaben, Sicht- und Fristgelder | 441 570.43 |
| Andere liquide Mittel (Margins) | 822 407.41 |
| Forderungen aus Wertpapierverkäufen (Erläuterung 1) | 511 189.36 |
| Zinsforderungen aus Wertpapieren | 172 122.06 |
| Sonstige Forderungen | 46 973.09 |
| Nicht realisierter Kursgewinn aus Devisenterminkontrakten (Erläuterung 1) | 696 643.15 |
| Total Aktiva | 101 737 868.61 |
|  |  |
| Passiva |  |
| Nicht realisierter Kursverlust aus Finanzterminkontrakten (Erläuterung 1) | -89 334.76 |
| Kontokorrentkredit | -23 736.36 |
| Verbindlichkeiten aus Rücknahmen | -576 453.33 |
| Rückstellungen für pauschale Verwaltungskommission (Erläuterung 2) | -150 090.49 |
| Rückstellungen für Abonnementsabgabe (Erläuterung 3) | -3 310.46 |
| Rückstellungen für sonstige Kommissionen und Gebühren (Erläuterung 2) | 	-20 842.38	 |
| Total Rückstellungen für Aufwendungen | -174 243.33 |
| Total Passiva | -863 767.78 |
|  |  |
| Nettovermögen am Ende des Geschäftsjahres | 100 874 100.83 |
| Ertrags- und Aufwandsrechnung | EUR |
| Erträge | 1.6.2020-31.5.2021 |
| Zinsertrag auf liquide Mittel | 51.78 |
| Zinsen auf Wertpapiere | 529 557.00 |
| Zinsertrag auf Swaps (Erläuterung 1) | 6 298.62 |
| Dividenden | 180 432.41 |
| Erträge aus Securities Lending (Erläuterung 15) | 21 037.57 |
| Sonstige Erträge (Erläuterung 4) | 42 313.84 |
| Total Erträge | 779 691.22 |
|  |  |
| Aufwendungen |  |
| Zinsaufwand auf Swaps (Erläuterung 1) | -1.64 |
| Kosten aus Securities Lending (Erläuterung 15) | -8 415.03 |
| Pauschale Verwaltungskommission (Erläuterung 2) | -1 208 950.04 |
| Abonnementsabgabe (Erläuterung 3) | -19 417.65 |
| Sonstige Kommissionen und Gebühren (Erläuterung 2) | -20 954.43 |
| Zinsaufwand auf liquide Mittel und Kontokorrentkredit | -6 854.27 |
| Total Aufwendungen | -1 264 593.06 |
|  |  |
| Nettoerträge (-verluste) aus Anlagen | -484 901.84 |
|  |  |
| Realisierte Gewinne (Verluste) (Erläuterung 1) |  |
| Realisierter Kursgewinn (-verlust) aus marktbewerteten Wertpapieren ausser Optionen | 2 355 756.94 |
| Realisierter Kursgewinn (-verlust) aus Optionen | 483 046.82 |
| Realisierter Kursgewinn (-verlust) aus renditebewerteten Wertpapieren und Geldmarktinstrumenten | -4 537.86 |
| Realisierter Kursgewinn (-verlust) aus Finanzterminkontrakten | -122 016.95 |
| Realisierter Kursgewinn (-verlust) aus Devisenterminkontrakten | 5 188 877.47 |
| Realisierter Kursgewinn (-verlust) aus Swaps | 33 167.49 |
| Realisierter Währungsgewinn (-verlust) | -312 966.83 |
| Total der realisierten Gewinne (Verluste) | 7 621 327.08 |
|  |  |
| Realisierter Nettogewinn (-verlust) des Geschäftsjahres | 7 136 425.24 |
|  |  |
| Veränderungen der nicht realisierten Werterhöhung (-minderung) (Erläuterung 1) |  |
| Nicht realisierte Werterhöhung (-minderung) marktbewerteter Wertpapiere ausser Optionen | 816 959.86 |
| Nicht realisierte Werterhöhung (-minderung) von Optionen | -144 681.42 |
| Nicht realisierte Werterhöhung (-minderung) renditebewerteter Wertpapiere und Geldmarktinstrumente | -5 346.68 |
| Nicht realisierte Werterhöhung (-minderung) von Finanzterminkontrakten | -52 004.43 |
| Nicht realisierte Werterhöhung (-minderung) von Devisenterminkontrakten | -577 901.45 |
| Nicht realisierte Werterhöhung (-minderung) von Swaps | -32 759.31 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | 4 266.57 |
|  |  |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | 7 140 691.81 |

UBS (Lux) Strategy SICAV – Income (EUR)
Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2021
| Veränderung des Nettovermögens |  |
| --- | --- |
|  |  | EUR |
|  |  | 1.6.2020-31.5.2021 |
| Nettovermögen zu Beginn des Geschäftsjahres |  | 100 158 358.40 |
| Zeichnungen |  | 9 464 308.25 |
| Rücknahmen |  | 	-15 708 149.31	 |
| Total Mittelzufluss (-abfluss) |  | -6 243 841.06 |
| Ausbezahlte Dividende |  | -181 108.32 |
| Nettoerträge (-verluste) aus Anlagen |  | -484 901.84 |
| Total der realisierten Gewinne (Verluste) |  | 7 621 327.08 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) |  | 	4 266.57	 |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit |  | 7 140 691.81 |
| Nettovermögen am Ende des Geschäftsjahres |  | 100 874 100.83 |
| Entwicklung der Aktien im Umlauf |  |  |
|  |  | 1.6.2020-31.5.2021 |
| Klasse |  | I-A3-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres |  | 0.0000 |
| Anzahl der ausgegebenen Aktien |  | 200.0000 |
| Anzahl der zurückgegebenen Aktien |  | -100.0000 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres |  | 100.0000 |
| Klasse |  | K-1-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres |  | 2.6000 |
| Anzahl der ausgegebenen Aktien |  | 0.5000 |
| Anzahl der zurückgegebenen Aktien |  | -0.2000 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres |  | 2.9000 |
| Klasse |  | P-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres |  | 625 633.7420 |
| Anzahl der ausgegebenen Aktien |  | 62 359.1730 |
| Anzahl der zurückgegebenen Aktien |  | -105 704.3570 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres |  | 582 288.5580 |
| Klasse |  | P-dist |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres |  | 93 314.8960 |
| Anzahl der ausgegebenen Aktien |  | 3 351.4920 |
| Anzahl der zurückgegebenen Aktien |  | -11 835.0700 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres |  | 84 831.3180 |
| Klasse |  | Q-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres |  | 119 565.7870 |
| Anzahl der ausgegebenen Aktien |  | 891.1080 |
| Anzahl der zurückgegebenen Aktien |  | -12 560.5240 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres |  | 107 896.3710 |
| Klasse |  | Q-dist |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres |  | 29 564.9230 |
| Anzahl der ausgegebenen Aktien |  | 3 000.0000 |
| Anzahl der zurückgegebenen Aktien |  | -4 599.8600 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres |  | 27 965.0630 |
| Jährliche Ausschüttung 1 |  |  |
| UBS (Lux) Strategy SICAV – Income (EUR)	Ex-Date | Pay-Date | Währung	Betrag pro Aktie |
| P-dist	3.8.2020 | 6.8.2020 | EUR	1.27 |
| Q-dist	3.8.2020 | 6.8.2020 | EUR	2.25 |
| 1  Siehe Erläuterung 5 |  |  |

UBS (Lux) Strategy SICAV – Income (EUR) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2021

## Aufstellung der Wertpapierbestände und anderer Nettovermögenswerte per 31. Mai 2021
| Bezeichnung | Anzahl/ | Bewertung in EUR | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
| Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden |  |  |  |
| Notes, fester Zins |  |  |  |
| EUR |  |  |  |
| EUR	CHINA, PEOPLE’S REPUBLIC OF-REG-S 0.12500% 19-12.11.26 | 175 000.00 | 175 142.19 | 0.17 |
| EUR	CHINA, PEOPLE’S REPUBLIC OF-REG-S 0.25000% 20-25.11.30 | 300 000.00 | 293 400.00 | 0.29 |
| EUR	NESTLE FINANCE INTERNATIONAL LTD-REG-S 0.37500% 20-12.05.32 | 78 000.00 | 76 984.90 | 0.08 |
| EUR	SWISSCOM FINANCE BV-REG-S 0.37500% 20-14.11.28 | 100 000.00 | 100 860.00 | 0.10 |
| Total EUR |  | 646 387.09 | 0.64 |
| Total Notes, fester Zins |  | 646 387.09 | 0.64 |
| Notes, variabler Zins |  |  |  |
| EUR |  |  |  |
| EUR	SWEDBANK AB-REG-S 0.300%/VAR 21-20.05.27 | 140 000.00 | 139 932.80 | 0.14 |
| EUR	WESTPAC BANKING CORP-REG-SUB 0.766%/VAR 21-13.05.31 | 122 000.00 | 121 683.76 | 0.12 |
| Total EUR |  | 261 616.56 | 0.26 |
| Total Notes, variabler Zins |  | 261 616.56 | 0.26 |
| Medium-Term Notes, fester Zins |  |  |  |
| EUR |  |  |  |
| EUR	AUSTRIA, REPUBLIC OF-144A-REG-S 0.75000% 18-20.02.28 | 200 000.00 | 213 654.00 | 0.21 |
| EUR	BNG BANK NV-REG-S 1.12500% 14-04.09.24 | 200 000.00 | 210 312.80 | 0.21 |
| EUR	COMMONWEALTH BANK OF AUSTRALIA 3.00000% 12-03.05.22 | 400 000.00 | 412 784.00 | 0.41 |
| EUR	CORPORACION ANDINA DE FOMENTO-REG-S 0.50000% 17-25.01.22 | 200 000.00 | 200 938.00 | 0.20 |
| EUR	CORPORACION ANDINA DE FOMENTO-REG-S 0.62500% 19-20.11.26 | 200 000.00 | 202 501.60 | 0.20 |
| EUR	DNB BANK ASA-REG-S 0.05000% 19-14.11.23 | 325 000.00 | 327 249.00 | 0.32 |
| EUR	DNB BOLIGKREDIT A-REG-S 1.87500% 12-21.11.22 | 300 000.00 | 310 495.80 | 0.31 |
| EUR	EUROPEAN INVESTMENT BANK 0.50000% 17-15.01.27 | 250 000.00 | 261 685.50 | 0.26 |
| EUR	EXPORT-IMPORT BANK OF KOREA-REG-S 0.37500% 19-26.03.24 | 300 000.00 | 304 650.00 | 0.30 |
| EUR	INSTITUTO DE CREDITO OFICIAL-REG-S 0.50000% 16-26.10.23 | 230 000.00 | 234 340.70 | 0.23 |
| EUR	KREDITANSTALT FUER WIEDERAUFBAU 4.62500% 07-04.01.23 | 600 000.00 | 650 464.80 | 0.65 |
| EUR	KREDITANSTALT FUER WIEDERAUFBAU 0.62500% 17-22.02.27 | 200 000.00 | 210 615.60 | 0.21 |
| EUR	LANDESBANK HESSEN-THUERINGEN GZ-REG-S 0.37500% 20-12.05.25 | 400 000.00 | 407 151.20 | 0.40 |
| EUR	LLOYDS BANK PLC-REG-S 0.25000% 19-25.03.24 | 120 000.00 | 121 968.00 | 0.12 |
| EUR	NATIONWIDE BUILDING SOCIETY 4.37500% 07-28.02.22 | 350 000.00 | 362 681.90 | 0.36 |
| EUR	NESTLE HOLDINGS INC-REG-S 0.87500% 17-18.07.25 | 280 000.00 | 290 857.84 | 0.29 |
| EUR	ORACLE CORP 3.12500% 13-10.07.25 | 300 000.00 | 338 499.00 | 0.34 |
| EUR	SKANDINAVISKA ENSKILDA BANKEN AB-REG-S 0.25000% 20-19.05.23 | 234 000.00 | 236 508.95 | 0.23 |
| EUR	SUMITOMO MITSUI BANKING CORP-REG-S 0.26700% 19-18.06.26 | 400 000.00 | 406 392.92 | 0.40 |
| Total EUR |  | 5 703 751.61 | 5.65 |
| Total Medium-Term Notes, fester Zins |  | 5 703 751.61 | 5.65 |
| Medium-Term Notes, Nullcoupon |  |  |  |
| EUR |  |  |  |
| EUR	NESTLE FINANCE INTERNATIONAL-REG-S 0.00000% 20-12.11.24 | 163 000.00 | 163 996.26 | 0.16 |
| Total EUR |  | 163 996.26 | 0.16 |
| Total Medium-Term Notes, Nullcoupon |  | 163 996.26 | 0.16 |
| Medium-Term Notes, variabler Zins |  |  |  |
| EUR |  |  |  |
| EUR	BANCO BILBAO VIZCAYA ARGENTARIA-REG-S 0.125%/VAR 21-24.03.27 | 300 000.00 | 298 956.00 | 0.30 |
| Total EUR |  | 298 956.00 | 0.30 |
| Total Medium-Term Notes, variabler Zins |  | 298 956.00 | 0.30 |
| Anleihen, fester Zins |  |  |  |
| EUR |  |  |  |
| EUR	APPLE INC 0.87500% 17-24.05.25 | 350 000.00 | 363 584.90 | 0.36 |
| EUR	AUSTRIA, REPUBLIC OF-REG-S 1.20000% 15-20.10.25 | 300 000.00 | 322 537.80 | 0.32 |
| EUR	BELGIUM, KINGDOM OF-144A-REG-S 0.80000% 15-22.06.25 | 400 000.00 | 421 772.80 | 0.42 |
| EUR	BELGIUM, KINGDOM OF-144A-REG-S 0.50000% 17-22.10.24 | 200 000.00 | 207 415.60 | 0.21 |
| EUR	BELGIUM, KINGDOM OF-144A-REG-S 0.80000% 18-22.06.28 | 100 000.00 | 107 242.40 | 0.11 |
| EUR	BELGIUM, KINGDOM OF-144A-REG-S 0.90000% 19-22.06.29 | 200 000.00 | 216 260.00 | 0.21 |
| EUR	CAISSE D’AMOR DE LA DETTE SOCIALE-REG-S 2.37500% 13-25.01.24 | 300 000.00 | 322 932.60 | 0.32 |
| EUR	EUROPEAN FINANCIAL STABILITY FAC-REG-S 0.12500% 17-17.10.23 | 300 000.00 | 304 604.40 | 0.30 |
| EUR	EUROPEAN INVESTMENT BANK-REG-S 0.37500% 16-14.04.26 | 250 000.00 | 259 330.00 | 0.26 |
| EUR	FRANCE, REPUBLIC OF OAT 2.25000% 12-25.10.22 | 110 000.00 | 114 500.10 | 0.11 |
| EUR	FRANCE, REPUBLIC OF-OAT 2.75000% 12-25.10.27 | 350 000.00 | 418 407.50 | 0.41 |
| EUR	FRANCE, REPUBLIC OF-OAT 1.75000% 14-25.11.24 | 400 000.00 | 432 309.92 | 0.43 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 1.00000% 15-25.11.25 | 250 000.00 | 266 504.50 | 0.26 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.25000% 15-25.11.26 | 450 000.00 | 464 902.20 | 0.46 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.75000% 17-25.05.28 | 200 000.00 | 213 200.80 | 0.21 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.75000% 18-25.11.28 | 650 000.00 | 693 348.50 | 0.69 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.50000% 19-25.05.29 | 200 000.00 | 209 242.40 | 0.21 |
| EUR	GERMANY, REPUBLIC OF 1.50000% 13-15.05.23 | 200 000.00 | 208 608.80 | 0.21 |
| EUR	GERMANY, REPUBLIC OF 1.00000% 14-15.08.24 | 400 000.00 | 421 712.00 | 0.42 |
| EUR	GERMANY, REPUBLIC OF-REG-S 0.25000% 17-15.02.27 | 150 000.00 | 156 667.50 | 0.16 |

UBS (Lux) Strategy SICAV – Income (EUR)
Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2021
|  | Bezeichnung | Anzahl/ | Bewertung in EUR | in % des |
| --- | --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
|  |  |  |  |  |
| EUR | GERMANY, REPUBLIC OF-REG-S 0.50000% 17-15.08.27 | 200 000.00 | 212 387.32 | 0.21 |
| EUR | GERMANY, REPUBLIC OF-REG-S 0.50000% 18-15.02.28 | 300 000.00 | 319 303.20 | 0.32 |
| EUR | GERMANY, REPUBLIC OF 4.75000% 98-04.07.28 | 500 000.00 | 687 750.00 | 0.68 |
| EUR | GERMANY, REPUBLIC OF 5.50000% 00-04.01.31 | 600 000.00 | 937 816.80 | 0.93 |
| EUR | JOHNSON & JOHNSON 0.65000% 16-20.05.24 | 300 000.00 | 307 599.00 | 0.30 |
| EUR | KREDITANSTALT FUER WIEDERAUFBAU 0.25000% 18-15.09.25 | 200 000.00 | 205 889.60 | 0.20 |
| EUR | NETHERLANDS, KINGDOM OF THE 2.00000% 14-15.07.24 | 400 000.00 | 433 440.00 | 0.43 |
| EUR | NORDRHEIN-WESTFALEN, STATE OF 4.37500% 07-29.04.22 | 280 000.00 | 292 612.32 | 0.29 |
| EUR | RABOBANK NEDERLAND NV-REG-S 0.25000% 19-30.10.26 | 300 000.00 | 302 646.00 | 0.30 |
| EUR | SKANDINAVISKA ENSKILDA BANKEN AB-REG-S 0.37500% 19-09.02.26 | 150 000.00 | 154 618.50 | 0.15 |
| EUR | STADSHYPOTEK AB-REG-S 0.50000% 18-11.07.25 | 300 000.00 | 310 292.40 | 0.31 |
| Total EUR |  |  | 10 289 439.86 | 10.20 |
| Total Anleihen, fester Zins |  | 10 289 439.86 | 10.20 |
| Anleihen, Nullcoupon |  |  |  |
| EUR |  |  |  |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.00000% 17-25.03.23 | 300 000.00 | 303 522.00 | 0.30 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.00000% 18-25.03.24 | 300 000.00 | 305 025.00 | 0.30 |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.00000% 19-25.03.25 | 250 000.00 | 254 865.00 | 0.25 |
| EUR	GERMANY, REPUBLIC OF-REG-S 0.00000% 16-15.08.26 | 350 000.00 | 360 200.40 | 0.36 |
| EUR	GERMANY, REPUBLIC OF-REG-S 0.00000% 19-15.08.29 | 600 000.00 | 615 667.20 | 0.61 |
| EUR	TORONTO DOMINION BANK-REG-S 0.00000% 19-09.02.24 | 280 000.00 | 282 870.00 | 0.28 |
| Total EUR |  | 2 122 149.60 | 2.10 |
| Total Anleihen, Nullcoupon |  | 2 122 149.60 | 2.10 |
| Anleihen, variabler Zins |  |  |  |
| EUR |  |  |  |
| EUR	UBS GROUP AG-REG-S 1.250%/VAR 18-17.04.25 | 200 000.00 | 206 654.00 | 0.21 |
| Total EUR |  | 206 654.00 | 0.21 |
| Total Anleihen, variabler Zins |  | 206 654.00 | 0.21 |
| Treasury-Notes, fester Zins |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 5.37500% 01-15.02.31 | 2 098 000.00 | 2 311 029.20 | 2.29 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.08.27 | 2 630 000.00 | 2 299 623.26 | 2.28 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.11.27 | 2 600 000.00 | 2 271 979.67 | 2.25 |
| USD	AMERICA, UNITED STATES OF 2.87500% 18-31.05.25 | 260 000.00 | 232 123.87 | 0.23 |
| USD	AMERICA, UNITED STATES OF 2.75000% 14-15.02.24 | 530 000.00 | 462 710.99 | 0.46 |
| USD	AMERICA, UNITED STATES OF 1.12500% 16-31.07.21 | 720 000.00 | 589 960.30 | 0.58 |
| USD	AMERICA, UNITED STATES OF 1.75000% 12-15.05.22 | 560 000.00 | 465 357.00 | 0.46 |
| USD	AMERICA, UNITED STATES OF 1.37500% 16-30.09.23 | 280 000.00 | 235 299.61 | 0.23 |
| USD	AMERICA, UNITED STATES OF 2.12500% 15-15.05.25 | 1 680 000.00 | 1 458 601.71 | 1.45 |
| USD	AMERICA, UNITED STATES OF 1.75000% 19-15.11.29 | 1 300 000.00 | 1 088 392.14 | 1.08 |
| USD	AMERICA, UNITED STATES OF 0.25000% 20-31.07.25 | 435 000.00 | 350 558.98 | 0.35 |
| Total USD |  | 11 765 636.73 | 11.66 |
| Total Treasury-Notes, fester Zins |  | 11 765 636.73 | 11.66 |
| Treasury-Notes, variabler Zins |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 3.875%/CPI LINKED 99-15.04.29 | 110 000.00 | 205 201.30 | 0.20 |
| USD	AMERICA, UNITED STATES OF 2.375%/CPI LINKED 04-15.01.25 | 190 000.00 | 256 674.44 | 0.25 |
| USD	AMERICA, UNITED STATES OF 0.625%/CPI LINKED 16-15.01.26 | 205 000.00 | 209 960.91 | 0.21 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 17-15.01.27 | 210 000.00 | 210 583.71 | 0.21 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI INDEX 13-15.07.23 | 210 000.00 | 209 543.09 | 0.21 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 15-15.07.25 | 260 000.00 | 263 899.60 | 0.26 |
| USD	AMERICA, UNITED STATES OF 0.750%/CPI LINKED 18-15.07.28 | 180 000.00 | 179 393.87 | 0.18 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 20-15.01.30 | 245 000.00 | 226 912.37 | 0.23 |
| Total USD |  | 1 762 169.29 | 1.75 |
| Total Treasury-Notes, variabler Zins | 1 762 169.29 | 1.75 |
| Total Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden | 33 220 757.00 | 32.93 |
| Wertpapiere und Geldmarktinstrumente, die an einem anderen geregelten Markt gehandelt werden |  |  |
| Treasury-Notes, variabler Zins |  |  |
| USD |  |  |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 12-15.07.22	210 000.00 | 206 145.73 | 0.20 |
| Total USD | 206 145.73 | 0.20 |
| Total Treasury-Notes, variabler Zins | 206 145.73 | 0.20 |
| Total Wertpapiere und Geldmarktinstrumente, die an einem anderen geregelten Markt gehandelt werden | 206 145.73 | 0.20 |

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

OGAW/Andere OGA im Sinne des Artikels 41 (1) e) des abgeänderten luxemburgischen Gesetzes vom 17. Dezember 2010
Investment Fonds, open end
| Irland |  |
| --- | --- |
| USD | ISHARES MSCI USA ESG SCREENED UCITS ETF UNHEGDED USD-CAP | 1.00 | 6.69 | 0.00 |
| USD | ISHRS III PLC-MSCI WORLD SML CAP UCITS ETF-UNHDG USD-ACC | 342 604.00 | 2 055 371.81 | 2.04 |
| USD | XTRACKERS MSCI WORLD ENERGY UCITS ETF-1C-ACCUM | 85 963.00 | 2 003 799.53 | 1.99 |
| Total Irland |  | 4 059 178.03 | 4.03 |
| Luxemburg |  |  |  |
| USD	LYXOR ETF WORLD FINANCIALS TR USD-C | 10 294.00 | 2 057 031.92 | 2.04 |
| EUR	UBS (LUX) BOND FUND - EURO HIGH YIELD (EUR) I-X-ACC | 14 467.00 | 2 055 616.03 | 2.04 |
| EUR	UBS (LUX) BOND SICAV - EUR CORP SUSTAINABLE (EUR) U-X-ACC | 1 197.00 | 15 155 384.58 | 15.02 |
| USD	UBS (LUX) BOND SICAV - USD HIGH YIELD U-X-ACC | 284.00 | 5 031 175.04 | 4.99 |
| USD	UBS (LUX) BOND SICAV - EMERGING ECONOMIES CORP (USD)-I-X-DIS | 34 296.00 | 3 179 529.38 | 3.15 |
| USD	UBS (LUX) BOND SICAV - USD INVEST GRADE CORP USD U X ACC | 1 411.12 | 14 139 501.25 | 14.02 |
| USD	UBS (LUX) EMERGING ECONOMIES FUND-GLOBAL BONDS (USD)-U-X ACC | 404.00 | 4 832 466.49 | 4.79 |
| EUR	UBS (LUX) EQUITY FUND - EURO COUNTRIES OPPORT U-X-ACC | 187.00 | 5 366 780.32 | 5.32 |
| USD	UBS (LUX) EQUITY FUND - GLOBAL SUSTAINABLE (USD) U-X-ACC | 170.00 | 2 112 331.17 | 2.09 |
| USD	UBS (LUX) EQUITY SICAV - GLB EM OPP(USD)-U-X-ACC | 12.00 | 394 511.40 | 0.39 |
| USD	UBS (LUX) EQUITY SICAV-GLOBAL QUANTITATIVE (USD) U-X-ACC | 131.00 | 2 120 076.40 | 2.10 |
| USD	UBS (LUX) EQUITY SICAV - GLOBAL OPPORTUNITY (USD) U-X-ACC | 208.00 | 2 075 229.77 | 2.06 |
| USD	UBS (LUX) INST FUND-KEY SEL. GLOBAL EQUITY FA-USD | 73.00 | 2 095 563.02 | 2.08 |
| USD	UBS (LUX) INSTITUTION SICAV-EQUITIES GLB (EX USA) PASSIVE XA | 7 224.00 | 747 540.57 | 0.74 |
| Total Luxemburg |  | 61 362 737.34 | 60.83 |
| Total Investment Fonds, open end |  | 65 421 915.37 | 64.86 |
| Total OGAW/Andere OGA im Sinne des Artikels 41 (1) e) des abgeänderten luxemburgischen Gesetzes vom 17. Dezember | 2010 | 65 421 915.37 | 64.86 |
| Derivative Instrumente, die an einer offiziellen Börse gehandelt werden |  |  |  |
| Optionsscheine auf Devisen |  |  |  |
| Vereinigte Staaten |  |  |  |
| USD	GOLDMAN SACHS FIN/EUR/USD PUT WARRANT 1.110000 21-17.09.21 | 30 200.00 | 66 691.20 | 0.07 |
| Total Vereinigte Staaten |  | 66 691.20 | 0.07 |
| Total Optionsscheine auf Devisen |  | 66 691.20 | 0.07 |
| Optionen auf Indizes, klassisch |  |  |  |
| USD |  |  |  |
| USD	S&P 500 INDEX PUT 3400.00000 18.06.21 | -6.00 | -613.42 | 0.00 |
| USD	S&P 500 INDEX CALL 4375.00000 18.06.21 | -6.00 | -858.79 | 0.00 |
| USD	S&P 500 INDEX CALL 4000.00000 18.06.21 | 6.00 | 108 045.64 | 0.11 |
| USD	MSCI EM INDEX CALL 1375.00000 17.09.21 | 18.00 | 54 030.18 | 0.05 |
| USD	MSCI EM INDEX PUT 1200.00000 17.09.21 | -18.00 | -20 316.53 | -0.02 |
| USD	MSCI EM INDEX CALL 1500.00000 17.09.21 | -18.00 | -8 833.27 | -0.01 |
| Total USD |  | 131 453.81 | 0.13 |
| Total Optionen auf Indizes, klassisch |  | 131 453.81 | 0.13 |
| Total Derivative Instrumente, die an einer offiziellen Börse gehandelt werden |  | 198 145.01 | 0.20 |
| Total des Wertpapierbestandes |  | 99 046 963.11 | 98.19 |

| Derivative Instrumente |  |
| --- | --- |
| Derivative Instrumente, die an einer offiziellen Börse gehandelt werden Finanzterminkontrakte auf Anleihen |
|  |  |  |  |
| USD	US 5YR TREASURY NOTE FUTURE 30.09.21 | -40.00 | -3 067.11 | 0.00 |
| Total Finanzterminkontrakte auf Anleihen |  | -3 067.11 | 0.00 |
| Finanzterminkontrakte auf Indizes |  |  |  |
|  |  |  |  |
| EUR	EURO STOXX 50 INDEX FUTURE 18.06.21 | -51.00 | -122 640.00 | -0.12 |
| CHF	SWISS MARKET INDEX FUTURE 18.06.21 | 17.00 | 98 482.14 | 0.10 |
| GBP	FTSE 100 INDEX FUTURE 18.06.21 | -4.00 | -13 207.57 | -0.02 |
| USD	S&P500 EMINI FUTURE 18.06.21 | -15.00 | -43 702.20 | -0.05 |
| AUD	SPI 200 INDEX FUTURES 17.06.21 | -2.00 | -12 915.08 | -0.01 |
| JPY	NIKKEI 225 (OSE) INDEX FUTURE 10.06.21 | 6.00 | 25 420.22 | 0.03 |
| CAD	S&P/TSX 60 INDEX FUTURE 17.06.21 | -2.00 | -17 705.16 | -0.02 |
| Total Finanzterminkontrakte auf Indizes |  | -86 267.65 | -0.09 |
| Total Derivative Instrumente, die an einer offiziellen Börse gehandelt werden |  | -89 334.76 | -0.09 |
| Total Derivative Instrumente |  | -89 334.76 | -0.09 |

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

Devisenterminkontrakte
Gekaufte Währung/ Gekaufter Betrag/Verkaufte Währung/Verkaufter Betrag/Fälligkeitsdatum
| EUR | 261 919.68 | GBP | 224 741.49 | 4.6.2021 | 631.96 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| EUR | 90 741.55 | DKK | 675 000.00 | 4.6.2021 | -16.40 | 0.00 |
| CAD | 343 416.38 | EUR | 230 965.04 | 4.6.2021 | 1 525.51 | 0.00 |
| EUR | 134 909.76 | HKD | 1 250 000.00 | 4.6.2021 | 3 185.75 | 0.00 |
| EUR | 63 498.11 | CHF | 70 000.00 | 4.6.2021 | -162.35 | 0.00 |
| SGD | 460 000.00 | EUR | 286 349.77 | 4.6.2021 | -1 537.84 | 0.00 |
| EUR | 54 431.55 | AUD | 83 962.89 | 4.6.2021 | 1 276.24 | 0.00 |
| EUR | 894 960.94 | JPY | 116 381 794.00 | 4.6.2021 | 24 840.59 | 0.03 |
| EUR | 30 690.74 | SEK | 311 304.49 | 4.6.2021 | -14.20 | 0.00 |
| NOK | 2 824 862.01 | EUR | 279 240.70 | 4.6.2021 | -1 523.47 | 0.00 |
| EUR | 22 853 760.34 | USD | 27 265 450.24 | 4.6.2021 | 553 956.16 | 0.55 |
| EUR | 304 127.63 | NOK | 3 100 000.00 | 4.6.2021 | -638.91 | 0.00 |
| JPY | 69 500 000.00 | EUR | 535 621.78 | 4.6.2021 | -16 009.89 | -0.02 |
| USD | 1 150 000.00 | EUR | 964 108.34 | 4.6.2021 | -23 548.97 | -0.02 |
| EUR | 263 050.04 | AUD | 405 000.00 | 4.6.2021 | 6 652.25 | 0.01 |
| EUR | 147 424.13 | CAD | 220 000.00 | 4.6.2021 | -1 514.37 | 0.00 |
| INR | 61 360 000.00 | USD | 836 651.21 | 11.6.2021 | 6 470.94 | 0.01 |
| IDR | 12 078 280 000.00 | USD | 830 750.40 | 11.6.2021 | 13 431.95 | 0.01 |
| USD | 851 493.57 | TWD | 24 030 000.00 | 11.6.2021 | -17 379.14 | -0.02 |
| TWD | 24 030 000.00 | USD | 859 503.54 | 11.6.2021 | 10 874.44 | 0.01 |
| USD | 812 016.15 | INR | 61 360 000.00 | 11.6.2021 | -26 630.31 | -0.03 |
| USD | 826 769.80 | IDR | 12 078 280 000.00 | 11.6.2021 | -16 659.29 | -0.02 |
| EUR | 343 123.37 | SGD | 550 000.00 | 4.6.2021 | 2 587.36 | 0.00 |
| AUD | 520 000.00 | EUR | 333 219.25 | 4.6.2021 | -4 017.14 | 0.01 |
| EUR | 911 251.55 | USD | 1 100 000.00 | 4.6.2021 | 11 586.06 | 0.01 |
| EUR | 55 833.99 | USD | 67 500.00 | 4.6.2021 | 627.24 | 0.00 |
| CHF | 41 000.00 | EUR | 37 149.43 | 4.6.2021 | 137.41 | 0.00 |
| EUR | 25 551.61 | USD | 31 000.00 | 4.6.2021 | 197.40 | 0.00 |
| JPY | 4 000 000.00 | EUR | 30 284.01 | 4.6.2021 | -378.29 | 0.00 |
| EUR | 194 808.20 | USD | 235 000.00 | 4.6.2021 | 2 606.94 | 0.00 |
| CAD | 35 000.00 | EUR | 23 601.08 | 4.6.2021 | 93.68 | 0.00 |
| CHF | 27 000.00 | EUR | 24 614.60 | 4.6.2021 | -59.85 | 0.00 |
| JPY | 4 000 000.00 | EUR | 30 499.32 | 4.6.2021 | -593.60 | 0.00 |
| USD | 17 000.00 | EUR | 14 110.05 | 4.6.2021 | -206.13 | 0.00 |
| AUD | 17 000.00 | EUR | 10 932.69 | 4.6.2021 | -170.31 | 0.00 |
| JPY | 1 500 000.00 | EUR | 11 394.06 | 4.6.2021 | -179.41 | 0.00 |
| CHF | 2 000.00 | EUR | 1 825.76 | 4.6.2021 | -6.89 | 0.00 |
| EUR | 15 498.46 | CHF | 17 000.00 | 4.6.2021 | 38.06 | 0.00 |
| EUR | 15 502.01 | CHF | 17 000.00 | 14.7.2021 | 37.67 | 0.00 |
| EUR | 269 551.07 | JPY | 35 693 785.00 | 14.7.2021 | 2 815.44 | 0.00 |
| EUR | 270 115.65 | CAD | 397 662.61 | 14.7.2021 | 1 129.37 | 0.00 |
| EUR | 29 575.72 | NOK | 294 818.15 | 14.7.2021 | 612.24 | 0.00 |
| EUR | 90 756.98 | DKK | 675 000.00 | 14.7.2021 | 11.55 | 0.00 |
| EUR | 247 033.22 | CHF | 270 329.02 | 14.7.2021 | 1 123.81 | 0.00 |
| SGD | 90 000.00 | EUR | 55 791.96 | 14.7.2021 | -118.26 | 0.00 |
| EUR | 134 524.59 | HKD | 1 270 000.00 | 14.7.2021 | 786.26 | 0.00 |
| NZD | 5 000.00 | EUR | 2 991.26 | 14.7.2021 | -16.82 | 0.00 |
| EUR | 229 339.72 | GBP | 198 212.70 | 14.7.2021 | -934.46 | 0.00 |
| EUR | 90 630.76 | SEK | 917 680.85 | 14.7.2021 | 157.97 | 0.00 |
| EUR | 148 041.92 | AUD | 229 214.05 | 14.7.2021 | 3 018.81 | 0.00 |
| EUR | 22 519 784.17 | USD | 27 380 015.25 | 14.7.2021 | 143 885.93 | 0.14 |
| EUR | 52 770.09 | JPY | 7 000 000.00 | 4.6.2021 | 435.08 | 0.00 |
| EUR | 52 745.84 | JPY | 7 000 000.00 | 14.7.2021 | 435.63 | 0.00 |
| SGD | 1 640 000.00 | EUR | 1 007 556.68 | 14.7.2021 | 6 941.88 | 0.01 |
| SGD | 1 640 000.00 | EUR | 1 008 486.04 | 4.6.2021 | 6 930.42 | 0.01 |
| EUR | 74 889.06 | GBP | 64 500.00 | 14.7.2021 | -44.00 | 0.00 |
| EUR | 74 943.27 | GBP | 64 500.00 | 4.6.2021 | -45.37 | 0.00 |
| EUR | 254 281.78 | USD | 310 000.00 | 1.6.2021 | 734.16 | 0.00 |
| EUR | 100 769.58 | JPY | 13 500 000.00 | 1.6.2021 | -163.64 | 0.00 |
| USD | 150 000.00 | EUR | 122 938.93 | 14.7.2021 | -353.73 | 0.00 |
| JPY | 6 750 000.00 | EUR | 50 383.02 | 4.6.2021 | 82.88 | 0.00 |
| JPY | 6 750 000.00 | EUR | 50 360.06 | 14.7.2021 | 81.93 | 0.00 |
| USD | 160 000.00 | EUR | 131 235.21 | 4.6.2021 | -374.78 | 0.00 |
| Total Devisenterminkontrakte | 696 643.15 | 0.69 |
|  |  |  |
| Bankguthaben, Sicht- und Fristgelder und andere liquide Mittel | 1 263 977.84 | 1.25 |
| Kontokorrentkredit und andere kurzfristige Verbindlichkeiten | -23 736.36 | -0.02 |
| Andere Aktiva und Passiva | -20 412.15 | -0.02 |
| Total des Nettovermögens | 100 874 100.83 | 100.00 |

UBS (Lux) Strategy SICAV – Income (EUR) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2021