# UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD)
| Three-year comparison |  |
| --- | --- |
|  | ISIN | 30.9.2020 | 30.9.2019 | 30.9.2018 |
| Net assets in USD |  | 43 140 160.78 | 57 425 010.94 | 87 150 059.39 |
| Class F-acc 1 | LU0425150785 |  |  |  |
| Shares outstanding |  | - | - | 20 800.0000 |
| Net asset value per share in USD |  | - | - | 100.46 |
| Issue and redemption price per share in USD 2 |  | - | - | 100.32 |
| Class I-A1-acc 3 | LU0425151833 |  |  |  |
| Shares outstanding |  | - | 4 087.0000 | 4 562.0000 |
| Net asset value per share in USD |  | - | 94.52 | 93.07 |
| Issue and redemption price per share in USD 2 |  | - | 94.52 | 92.94 |
| Class (EUR hedged) I-A2-acc 4 | LU0920342325 |  |  |  |
| Shares outstanding |  | - | 74 639.4450 | 74 639.4450 |
| Net asset value per share in EUR |  | - | 93.81 | 95.08 |
| Issue and redemption price per share in EUR 2 |  | - | 93.81 | 94.95 |
| Class I-B-acc | LU0425154183 |  |  |  |
| Shares outstanding |  | 118 722.0810 | 117 032.7840 | 121 689.6200 |
| Net asset value per share in USD |  | 131.77 | 128.74 | 125.39 |
| Issue and redemption price per share in USD 2 |  | 131.77 | 128.74 | 125.21 |
| Class (EUR hedged) I-B-acc 5 | LU0945635695 |  |  |  |
| Shares outstanding |  | - | - | 126 791.5270 |
| Net asset value per share in EUR |  | - | - | 104.87 |
| Issue and redemption price per share in EUR 2 |  | - | - | 104.72 |
| Class I-X-acc | LU0425154852 |  |  |  |
| Shares outstanding |  | 7 262.8630 | 11 013.3600 | 39 084.4970 |
| Net asset value per share in USD |  | 131.13 | 128.03 | 124.62 |
| Issue and redemption price per share in USD 2 |  | 131.13 | 128.03 | 124.45 |
| Class (CHF hedged) I-X-acc | LU0943632256 |  |  |  |
| Shares outstanding |  | 171 098.4010 | 183 781.4010 | 187 868.2040 |
| Net asset value per share in CHF |  | 102.12 | 101.89 | 102.60 |
| Issue and redemption price per share in CHF 2 |  | 102.12 | 101.89 | 102.46 |
| Class (EUR hedged) I-X-acc 6 | LU1191107694 |  |  |  |
| Shares outstanding |  | - | 48 721.1760 | 48 721.1770 |
| Net asset value per share in EUR |  | - | 90.00 | 90.26 |
| Issue and redemption price per share in EUR 2 |  | - | 90.00 | 90.13 |
| Class (EUR hedged) N-4%-mdist | LU1240811577 |  |  |  |
| Shares outstanding |  | 2 500.7590 | 3 144.9090 | 2 786.8140 |
| Net asset value per share in EUR |  | 65.77 | 69.93 | 74.82 |
| Issue and redemption price per share in EUR 2 |  | 65.77 | 69.93 | 74.72 |
| Class (EUR hedged) N-acc | LU1089022138 |  |  |  |
| Shares outstanding |  | 3 386.2660 | 4 799.4780 | 6 679.3020 |
| Net asset value per share in EUR |  | 81.85 | 83.69 | 86.11 |
| Issue and redemption price per share in EUR 2 |  | 81.85 | 83.69 | 85.99 |
| Class (EUR hedged) P-4%-mdist | LU1240811494 |  |  |  |
| Shares outstanding |  | 6 202.2090 | 6 818.9950 | 5 870.4390 |
| Net asset value per share in EUR |  | 67.78 | 71.64 | 76.23 |
| Issue and redemption price per share in EUR 2 |  | 67.78 | 71.64 | 76.12 |
| Class P-acc | LU0218832805 |  |  |  |
| Shares outstanding |  | 43 866.2730 | 52 426.4050 | 91 312.8740 |
| Net asset value per share in USD |  | 118.53 | 118.02 | 117.15 |
| Issue and redemption price per share in USD 2 |  | 118.53 | 118.02 | 116.99 |
| Class (CHF hedged) P-acc | LU0849400626 |  |  |  |
| Shares outstanding |  | 2 209.7090 | 2 140.0990 | 3 846.4610 |
| Net asset value per share in CHF |  | 89.72 | 91.34 | 93.81 |
| Issue and redemption price per share in CHF 2 |  | 89.72 | 91.34 | 93.68 |
| Class (EUR hedged) P-acc | LU0849401350 |  |  |  |
| Shares outstanding |  | 7 333.2130 | 14 138.0130 | 28 167.4550 |
| Net asset value per share in EUR |  | 92.75 | 94.27 | 96.43 |
| Issue and redemption price per share in EUR 2 |  | 92.75 | 94.27 | 96.29 |

UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD)
Annual report and audited financial statements as of 30 September 2020
|  | ISIN | 30.9.2020 | 30.9.2019 | 30.9.2018 |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Class Q-acc 7 | LU1240792256 |  |  |  |
| Shares outstanding |  | - | - | 181.8080 |
| Net asset value per share in USD |  | - | - | 98.71 |
| Issue and redemption price per share in USD 2 |  | - | - | 98.57 |
| Class (EUR hedged) Q-acc | LU1121267162 |  |  |  |
| Shares outstanding |  | 2 949.9380 | 3 342.9160 | 2 965.6790 |
| Net asset value per share in EUR |  | 87.40 | 88.21 | 89.59 |
| Issue and redemption price per share in EUR 2 |  | 87.40 | 88.21 | 89.46 |
| 1  The share class F-acc was in circulation until 1.10.2018 2  See note 1 3  The share class I-A1-acc was in circulation until 16.1.2020 4  The share class (EUR hedged) I-A2-acc was in circulation until 6.12.2019 5  The share class (EUR hedged) I-B-acc was in circulation until 8.4.2019 6  The share class (EUR hedged) I-X-acc was in circulation until 6.3.2020 7  The share class Q-acc was in circulation until 12.10.2018 |  |  |  |  |
| Performance |  |  |  |  |
|  | Currency | 2019/2020 | 2018/2019 | 2017/2018 |
| Class F-acc 1 | USD | - | - | -2.3% |
| Class I-A1-acc 2 | USD | - | 1.6% | -3.1% |
| Class (EUR hedged) I-A2-acc 3 | EUR | - | -1.3% | -5.5% |
| Class I-B-acc | USD | 2.4% | 2.7% | -2.0% |
| Class (EUR hedged) I-B-acc 4 | EUR | - | - | -4.6% |
| Class I-X-acc | USD | 2.4% | 2.7% | -2.0% |
| Class (CHF hedged) I-X-acc | CHF | 0.2% | -0.7% | -4.9% |
| Class (EUR hedged) I-X-acc 5 | EUR | - | -0.3% | -4.5% |
| Class (EUR hedged) N-4%-mdist | EUR | -2.2% | -2.7% | -6.7% |
| Class (EUR hedged) N-acc | EUR | -2.2% | -2.7% | -6.7% |
| Class (EUR hedged) P-4%-mdist | EUR | -1.6% | -2.1% | -6.2% |
| Class P-acc | USD | 0.4% | 0.9% | -3.7% |
| Class (CHF hedged) P-acc | CHF | -1.8% | -2.5% | -6.6% |
| Class (EUR hedged) P-acc | EUR | -1.6% | -2.1% | -6.2% |
| Class Q-acc 6 | USD | - | - | -3.0% |
| Class (EUR hedged) Q-acc | EUR | -0.9% | -1.4% | -5.3% |

1 
The share class F-acc was in circulation until 1.10.2018. Due to this fact, there is no data for the calculation of the performance available.
2 
The share class I-A1-acc was in circulation until 16.1.2020. Due to this fact, there is no data for the calculation of the performance available.
3 
The share class (EUR hedged) I-A2-acc was in circulation until 6.12.2019. Due to this fact, there is no data for the calculation of the performance available.
4 
The share class (EUR hedged) I-B-acc was in circulation until 8.4.2019. Due to this fact, there is no data for the calculation of the performance available.
5 
The share class (EUR hedged) I-X-acc was in circulation until 6.3.2020. Due to this fact, there is no data for the calculation of the performance available.
6 
The share class Q-acc was in circulation until 12.10.2018. Due to this fact, there is no data for the calculation of the performance available.
Historical performance is no indicator of current or future performance.
The performance data does not take account of any commissions and costs charged when subscribing and redeeming shares. The performance data were not audited.
The subfund has no benchmark.
UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD) Annual report and audited financial statements as of 30 September 2020

## Report of the Portfolio Manager
The financial year, from 1 October 2019 to 30 September 2020, was characterized by extreme market volatility. Initial market optimism in Q4 2019 due to a phase 1 trade deal between China and the US diminished as the coronavirus spread globally and led to a sell-off across risky asset classes in Q1 2020. In Q2, financial markets recovered on the back of fiscal and monetary support. In Q3, economic data generally kept beating expecta- tions globally, vaccine developments made further pro- gress, and better testing and treatment capacities hel- ped avoid full lockdowns.
There was a high dispersion across the various asset classes. US stocks, in particular tech companies, were up significantly, while European equities ended the year in negative territory.
The subfund’s performance was positive in the financial year for USD share classes and negative for the CHF and EUR hedged share classes. Mainly driven by a de-risking in March, the allocation to equities moved in a range of 15% to 25%. Equity and currency-related tactical trades overall detracted while fixed income positioning was additive.
UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD)
Annual report and audited financial statements as of 30 September 2020

## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
United States	50.30
| Ireland | 5.56 |
| --- | --- |
| France | 3.98 |
| Japan | 3.66 |
| United Kingdom | 3.47 |
| Germany | 3.27 |
| The Netherlands | 2.54 |
| Canada | 2.22 |
| Australia | 1.92 |
| New Zealand | 1.90 |
| Spain | 1.53 |
| Mexico | 1.15 |
| Hong Kong | 0.49 |
| Singapore | 0.47 |
| Finland | 0.28 |
| Belgium | 0.28 |
| Portugal | 0.28 |
| Czech Republic | 0.28 |
| Poland | 0.27 |
| Switzerland | 0.27 |
| Romania | 0.27 |
| Luxembourg | 0.26 |
| Cayman Islands | 0.08 |
| Curacao | 0.04 |
| Total | 84.77 |

Economic Breakdown as a % of net assets	
Countries & central governments	52.30
| Banks & credit institutions | 8.48 |
| --- | --- |
| Finance & holding companies | 6.25 |
| Investment funds | 4.18 |
| Petroleum | 2.45 |
| Energy & water supply | 2.15 |
| Insurance | 1.65 |
| Chemicals | 1.06 |
| Pharmaceuticals, cosmetics & medical products | 1.03 |
| Real Estate | 0.89 |
| Telecommunications | 0.85 |
| Miscellaneous services | 0.67 |
| Traffic & transportation | 0.58 |
| Electrical devices & components | 0.51 |
| Mechanical engineering & industrial equipment | 0.28 |
| Tobacco & alcohol | 0.26 |
| Food & soft drinks | 0.21 |
| Graphic design, publishing & media | 0.16 |
| Biotechnology | 0.15 |
| Mining, coal & steel | 0.14 |
| Aerospace industry | 0.11 |
| Computer hardware & network equipment providers | 0.09 |
| Miscellaneous unclassified companies | 0.08 |
| Vehicles | 0.07 |
| Internet, software & IT services | 0.06 |
| Miscellaneous consumer goods | 0.05 |
| Retail trade, department stores | 0.04 |
| Textiles, garments & leather goods | 0.02 |
| Total | 84.77 |


## Statement of Net Assets
Assets	30.9.2020
USD
Investments in securities, cost	35 857 320.42
| Investments in securities, unrealized appreciation (depreciation) | 	714 541.03	 |
| --- | --- |
| Total investments in securities (Note 1) | 36 571 861.45 |
| Cash at banks, deposits on demand and deposit accounts | 6 505 521.85 |
| Other liquid assets (Margins) | 1 348 105.16 |
| Receivable on securities sales (Note 1) | 18.91 |
| Receivable on subscriptions | 158.82 |
| Interest receivable on securities | 179 579.32 |
| Other receivables | 32 359.63 |
| Unrealized gain on swaps (Note 1) | 108 024.52 |
| Total Assets | 44 745 629.66 |
|  |  |
| Liabilities |  |
| Unrealized loss on financial futures (Note 1) | -113 287.94 |
| Unrealized loss on forward foreign exchange contracts (Note 1) | -402 504.69 |
| Bank overdraft | -974 311.26 |
| Payable on redemptions | -92 316.40 |
| Provisions for flat fee (Note 2) | -6 597.47 |
| Provisions for taxe d’abonnement (Note 3) | -1 831.12 |
| Provisions for other commissions and fees (Note 2) | 	-14 620.00	 |
| Total provisions | -23 048.59 |
| Total Liabilities | -1 605 468.88 |
|  |  |
| Net assets at the end of the financial year | 43 140 160.78 |
| Statement of Operations | USD |
| Income | 1.10.2019-30.9.2020 |
| Interest on liquid assets | 13 224.86 |
| Interest on securities | 774 164.32 |
| Dividends (Note 1) | 71 048.14 |
| Interest received on swaps (Note 1) | 213 998.73 |
| Income on securities lending (Note 16) | 28 259.20 |
| Other income (Note 4) | 51 300.15 |
| Total income | 1 151 995.40 |
|  |  |
| Expenses |  |
| Interest paid on swaps (Note 1) | -87 477.27 |
| Flat fee (Note 2) | -190 552.68 |
| Taxe d’abonnement (Note 3) | -7 600.64 |
| Cost on securities lending (Note 16) | -11 303.68 |
| Other commissions and fees (Note 2) | -14 019.84 |
| Interest on cash and bank overdraft | -11 516.73 |
| Total expenses | -322 470.84 |
|  |  |
| Net income (loss) on investments | 829 524.56 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | 947 354.82 |
| Realized gain (loss) on options | -22 754.46 |
| Realized gain (loss) on yield-evaluated securities and money market instruments | 349 028.01 |
| Realized gain (loss) on financial futures | 463 176.09 |
| Realized gain (loss) on forward foreign exchange contracts | 633 159.20 |
| Realized gain (loss) on swaps | -538 839.50 |
| Realized gain (loss) on foreign exchange | 283 841.02 |
| Total realized gain (loss) | 2 114 965.18 |
|  |  |
| Net realized gain (loss) of the financial year | 2 944 489.74 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | -2 638.90 |
| Unrealized appreciation (depreciation) on options | 13 232.22 |
| Unrealized appreciation (depreciation) on yield-evaluated securities and money market instruments | -118 423.29 |
| Unrealized appreciation (depreciation) on financial futures | -392 780.78 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | -262 608.15 |
| Unrealized appreciation (depreciation) on swaps | 334 880.57 |
| Total changes in unrealized appreciation (depreciation) | -428 338.33 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | 2 516 151.41 |

UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD) Annual report and audited financial statements as of 30 September 2020
| Changes in Net Assets |  |
| --- | --- |
|  | USD |
|  | 1.10.2019-30.9.2020 |
| Net assets at the beginning of the financial year | 57 425 010.94 |
| Subscriptions | 6 305 481.78 |
| Redemptions | 	-23 078 141.69	 |
| Total net subscriptions (redemptions) | -16 772 659.91 |
| Dividend paid | -28 341.66 |
| Net income (loss) on investments | 829 524.56 |
| Total realized gain (loss) | 2 114 965.18 |
| Total changes in unrealized appreciation (depreciation) | 	-428 338.33	 |
| Net increase (decrease) in net assets as a result of operations | 2 516 151.41 |
| Net assets at the end of the financial year | 43 140 160.78 |
| Changes in the Number of Shares outstanding |  |
|  | 1.10.2019-30.9.2020 |
| Class | I-A1-acc |
| Number of shares outstanding at the beginning of the financial year | 4 087.0000 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -4 087.0000 |
| Number of shares outstanding at the end of the financial year | 0.0000 |
| Class | (EUR hedged) I-A2-acc |
| Number of shares outstanding at the beginning of the financial year | 74 639.4450 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -74 639.4450 |
| Number of shares outstanding at the end of the financial year | 0.0000 |
| Class | I-B-acc |
| Number of shares outstanding at the beginning of the financial year | 117 032.7840 |
| Number of shares issued | 21 806.1670 |
| Number of shares redeemed | -20 116.8700 |
| Number of shares outstanding at the end of the financial year | 118 722.0810 |
| Class | I-X-acc |
| Number of shares outstanding at the beginning of the financial year | 11 013.3600 |
| Number of shares issued | 152.4560 |
| Number of shares redeemed | -3 902.9530 |
| Number of shares outstanding at the end of the financial year | 7 262.8630 |
| Class | (CHF hedged) I-X-acc |
| Number of shares outstanding at the beginning of the financial year | 183 781.4010 |
| Number of shares issued | 27 457.0000 |
| Number of shares redeemed | -40 140.0000 |
| Number of shares outstanding at the end of the financial year | 171 098.4010 |
| Class | (EUR hedged) I-X-acc |
| Number of shares outstanding at the beginning of the financial year | 48 721.1760 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -48 721.1760 |
| Number of shares outstanding at the end of the financial year | 0.0000 |
| Class | (EUR hedged) N-4%-mdist |
| Number of shares outstanding at the beginning of the financial year | 3 144.9090 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -644.1500 |
| Number of shares outstanding at the end of the financial year | 2 500.7590 |
| Class | (EUR hedged) N-acc |
| Number of shares outstanding at the beginning of the financial year | 4 799.4780 |
| Number of shares issued | 413.7010 |
| Number of shares redeemed | -1 826.9130 |
| Number of shares outstanding at the end of the financial year | 3 386.2660 |
| Class | (EUR hedged) P-4%-mdist |
| Number of shares outstanding at the beginning of the financial year | 6 818.9950 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -616.7860 |
| Number of shares outstanding at the end of the financial year | 6 202.2090 |
| Class | P-acc |
| Number of shares outstanding at the beginning of the financial year | 52 426.4050 |
| Number of shares issued | 2 758.1190 |
| Number of shares redeemed | -11 318.2510 |
| Number of shares outstanding at the end of the financial year | 43 866.2730 |
| Class | (CHF hedged) P-acc |
| Number of shares outstanding at the beginning of the financial year | 2 140.0990 |
| Number of shares issued | 867.0150 |
| Number of shares redeemed | -797.4050 |
| Number of shares outstanding at the end of the financial year | 2 209.7090 |

UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD)
Annual report and audited financial statements as of 30 September 2020
| Class | (EUR hedged) P-acc |
| --- | --- |
| Number of shares outstanding at the beginning of the financial year | 14 138.0130 |
| Number of shares issued | 269.0350 |
| Number of shares redeemed | -7 073.8350 |
| Number of shares outstanding at the end of the financial year | 7 333.2130 |
| Class | (EUR hedged) Q-acc |
| Number of shares outstanding at the beginning of the financial year | 3 342.9160 |
| Number of shares issued | 532.6790 |
| Number of shares redeemed | -925.6570 |
| Number of shares outstanding at the end of the financial year | 2 949.9380 |

| Monthly Distribution 1 |  |
| --- | --- |
| UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD) | Ex-Date | Pay-Date | Currency | Amount per share |
| (EUR hedged) N-4%-mdist | 10.10.2019 | 15.10.2019 | EUR | 0.23 |
| (EUR hedged) N-4%-mdist | 11.11.2019 | 14.11.2019 | EUR | 0.23 |
| (EUR hedged) N-4%-mdist | 10.12.2019 | 13.12.2019 | EUR | 0.23 |
| (EUR hedged) N-4%-mdist | 10.1.2020 | 15.1.2020 | EUR | 0.23 |
| (EUR hedged) N-4%-mdist | 10.2.2020 | 13.2.2020 | EUR | 0.23 |
| (EUR hedged) N-4%-mdist | 10.3.2020 | 13.3.2020 | EUR | 0.22 |
| (EUR hedged) N-4%-mdist | 14.4.2020 | 17.4.2020 | EUR | 0.20 |
| (EUR hedged) N-4%-mdist | 11.5.2020 | 14.5.2020 | EUR | 0.21 |
| (EUR hedged) N-4%-mdist | 10.6.2020 | 15.6.2020 | EUR | 0.21 |
| (EUR hedged) N-4%-mdist | 10.7.2020 | 15.7.2020 | EUR | 0.21 |
| (EUR hedged) N-4%-mdist | 10.8.2020 | 13.8.2020 | EUR | 0.22 |
| (EUR hedged) N-4%-mdist | 10.9.2020 | 15.9.2020 | EUR | 0.22 |
| (EUR hedged) P-4%-mdist | 10.10.2019 | 15.10.2019 | EUR | 0.23 |
| (EUR hedged) P-4%-mdist | 11.11.2019 | 14.11.2019 | EUR | 0.24 |
| (EUR hedged) P-4%-mdist | 10.12.2019 | 13.12.2019 | EUR | 0.23 |
| (EUR hedged) P-4%-mdist | 10.1.2020 | 15.1.2020 | EUR | 0.24 |
| (EUR hedged) P-4%-mdist | 10.2.2020 | 13.2.2020 | EUR | 0.23 |
| (EUR hedged) P-4%-mdist | 10.3.2020 | 13.3.2020 | EUR | 0.23 |
| (EUR hedged) P-4%-mdist | 14.4.2020 | 17.4.2020 | EUR | 0.21 |
| (EUR hedged) P-4%-mdist | 11.5.2020 | 14.5.2020 | EUR | 0.21 |
| (EUR hedged) P-4%-mdist | 10.6.2020 | 15.6.2020 | EUR | 0.22 |
| (EUR hedged) P-4%-mdist | 10.7.2020 | 15.7.2020 | EUR | 0.22 |
| (EUR hedged) P-4%-mdist | 10.8.2020 | 13.8.2020 | EUR | 0.22 |
| (EUR hedged) P-4%-mdist | 10.9.2020 | 15.9.2020 | EUR | 0.22 |
| 1  See note 5 |  |  |  |  |

UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD) Annual report and audited financial statements as of 30 September 2020

## Statement of Investments in Securities and other Net Assets as of 30 September 2020
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Transferable securities and money market instruments listed on an official stock exchange |  |  |  |
| Notes, fixed rate |  |  |  |
| EUR |  |  |  |
| EUR	ABBVIE INC-144A 2.12500% 20-01.06.29 | 100 000.00 | 131 352.98 | 0.30 |
| EUR	GOLDMAN SACHS GROUP INC-REG-S 3.37500% 20-27.03.25 | 45 000.00 | 59 644.66 | 0.14 |
| Total EUR |  | 190 997.64 | 0.44 |
| USD |  |  |  |
| USD	3M CO 2.65000% 20-15.04.25 | 20 000.00 | 21 701.59 | 0.05 |
| USD	ABBVIE INC 4.25000% 18-14.11.28 | 50 000.00 | 59 311.42 | 0.14 |
| USD	AIR PRODUCTS & CHEMICALS INC 2.05000% 20-15.05.30 | 20 000.00 | 20 993.09 | 0.05 |
| USD	ALBEMARLE CORPORATION 5.45000% 14-01.12.44 | 50 000.00 | 54 895.21 | 0.13 |
| USD	ALTRIA GROUP INC 4.40000% 19-14.02.26 | 35 000.00 | 40 430.70 | 0.09 |
| USD	ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.15000% 19-23.01.25 | 25 000.00 | 28 288.19 | 0.07 |
| USD	APACHE CORP 4.25000% 12-15.01.44 | 80 000.00 | 68 000.00 | 0.16 |
| USD	APT PIPELINES LTD-REG-S 4.20000% 15-23.03.25 | 20 000.00 | 22 063.80 | 0.05 |
| USD	ARCHER-DANIELS MIDLAND CO 2.75000% 20-27.03.25 | 15 000.00 | 16 298.96 | 0.04 |
| USD	AT&T INC 4.35000% 19-01.03.29 | 80 000.00 | 94 168.57 | 0.22 |
| USD	BAT CAPITAL CORP 3.55700% 18-15.08.27 | 40 000.00 | 43 200.43 | 0.10 |
| USD	BIOGEN INC 2.25000% 20-01.05.30 | 65 000.00 | 66 565.07 | 0.15 |
| USD	CANADIAN NATURAL RESOURCES LTD 2.95000% 17-15.01.23 | 35 000.00 | 36 403.75 | 0.08 |
| USD	CANADIAN NATURAL RESOURCES LTD 3.85000% 17-01.06.27 | 50 000.00 | 53 835.71 | 0.13 |
| USD	CCO LLC/CAPITAL 4.50000% 18-01.02.24 | 60 000.00 | 66 529.00 | 0.15 |
| USD	CENOVUS ENERGY INC 4.25000% 17-15.04.27 | 40 000.00 | 36 163.21 | 0.08 |
| USD	CHEVRON CORP 1.14100% 20-11.05.23 | 10 000.00 | 10 193.40 | 0.02 |
| USD	CIGNA CORP 3.40000% 19-17.09.21 | 45 000.00 | 46 310.84 | 0.11 |
| USD	CIGNA CORP 4.37500% 19-15.10.28 | 40 000.00 | 47 582.31 | 0.11 |
| USD	CNOOC PETROLEUM NORTH AMERICA ULC 6.40000% 07-15.05.37 | 45 000.00 | 65 868.75 | 0.15 |
| USD	COMCAST CORP 3.95000% 18-15.10.25 | 50 000.00 | 57 389.68 | 0.13 |
| USD	CONAGRA BRANDS INC 3.80000% 18-22.10.21 | 20 000.00 | 20 680.65 | 0.05 |
| USD	CVS HEALTH CORP 2.62500% 19-15.08.24 | 45 000.00 | 47 965.53 | 0.11 |
| USD	CVS HEALTH CORP 3.35000% 18-09.03.21 | 16 000.00 | 16 208.94 | 0.04 |
| USD	DIAMONDBACK ENERGY INC 3.25000% 19-01.12.26 | 50 000.00 | 50 164.69 | 0.12 |
| USD	ENABLE MIDSTREAM PARTNERS LP 3.90000% 15-15.05.24 | 35 000.00 | 34 461.94 | 0.08 |
| USD	ENERGY TRANSFER OPERATING LP 4.50000% 19-15.04.24 | 35 000.00 | 37 073.30 | 0.09 |
| USD	EXELON CORP 3.40000% 16-15.04.26 | 25 000.00 | 27 991.53 | 0.07 |
| USD	GENERAL ELECTRIC CO 3.45000% 20-01.05.27 | 10 000.00 | 10 587.87 | 0.02 |
| USD	GENERAL ELECTRIC CO 3.62500% 20-01.05.30 | 10 000.00 | 10 356.13 | 0.02 |
| USD	GENERAL ELECTRIC CO 3.15000% 12-07.09.22 | 30 000.00 | 31 331.89 | 0.07 |
| USD	GENERAL MOTORS FINANCIAL CO 4.35000% 18-09.04.25 | 105 000.00 | 113 906.50 | 0.26 |
| USD	GEORGIA POWER CO 2.10000% 20-30.07.23 | 35 000.00 | 36 536.63 | 0.08 |
| USD	GOLDMAN SACHS GROUP INC 3.50000% 20-01.04.25 | 130 000.00 | 143 477.07 | 0.33 |
| USD	HCP INC 3.87500% 14-15.08.24 | 45 000.00 | 49 886.92 | 0.12 |
| USD	ILLINOIS TOOL WORKS INC 2.65000% 16-15.11.26 | 60 000.00 | 66 538.69 | 0.15 |
| USD	JPMORGAN CHASE & CO 3.20000% 13-25.01.23 | 270 000.00 | 287 004.06 | 0.67 |
| USD	KINDER MORGAN INC 3.15000% 17-15.01.23 | 45 000.00 | 47 262.76 | 0.11 |
| USD	KRAFT HEINZ FOODS CO 5.00000% 13-04.06.42 | 50 000.00 | 54 756.13 | 0.13 |
| USD	LINCOLN NATIONAL CORP 3.80000% 18-01.03.28 | 80 000.00 | 92 099.09 | 0.21 |
| USD	MARATHON OIL CORP 3.85000% 15-01.06.25 | 40 000.00 | 41 049.66 | 0.10 |
| USD	MEXICHEM SAB DE CV-REG-S 5.50000% 17-15.01.48 | 200 000.00 | 224 250.00 | 0.52 |
| USD	MORGAN STANLEY 2.50000% 16-21.04.21 | 140 000.00 | 141 695.91 | 0.33 |
| USD	NATWEST GROUP PLC-SUB 6.10000% 13-10.06.23 | 65 000.00 | 71 877.12 | 0.17 |
| USD	NIKE INC 2.40000% 20-27.03.25 | 10 000.00 | 10 743.05 | 0.02 |
| USD	NOBLE ENERGY INC 3.85000% 17-15.01.28 | 30 000.00 | 34 067.66 | 0.08 |
| USD	ORACLE CORP 2.50000% 20-01.04.25 | 25 000.00 | 26 790.00 | 0.06 |
| USD	SCENTRE GROUP TRUST 1 /2-REG-S 2.37500% 15-28.04.21 | 55 000.00 | 55 353.98 | 0.13 |
| USD	SOUTHERN CO 3.25000% 16-01.07.26 | 50 000.00 | 55 793.04 | 0.13 |
| USD	SUNCOR ENERGY INC 3.10000% 20-15.05.25 | 20 000.00 | 21 485.16 | 0.05 |
| USD	TEVA PHARMACEUTICAL FINANCE NL III BV 2.80000% 16-21.07.23 | 35 000.00 | 33 085.94 | 0.08 |
| USD	UNITED TECHNOLOGIES CORP 3.95000% 18-16.08.25 | 40 000.00 | 45 457.41 | 0.11 |
| USD	VALERO ENERGY CORP 2.85000% 20-15.04.25 | 10 000.00 | 10 494.18 | 0.02 |
| USD	VERIZON COMMUNICATIONS INC 3.37600% 18-15.02.25 | 26 000.00 | 28 978.64 | 0.07 |
| USD	VIRGINIA ELECTRIC & POWER CO 3.80000% 18-01.04.28 | 20 000.00 | 23 512.10 | 0.05 |
| USD	VISA INC 1.90000% 20-15.04.27 | 35 000.00 | 37 172.87 | 0.09 |
| USD	WELLS FARGO & CO 3.06900% 17-24.01.23 | 80 000.00 | 82 513.80 | 0.19 |
| USD	WESTPAC BANKING CORP 2.00000% 20-13.01.23 | 35 000.00 | 36 282.06 | 0.08 |
| USD	WILLIAMS COS INC/THE 4.30000% 14-04.03.24 | 35 000.00 | 38 274.63 | 0.09 |
| USD	WPP FINANCE 2010 3.75000% 14-19.09.24 | 30 000.00 | 32 932.42 | 0.08 |
| USD	XLIT LTD 5.25000% 13-15.12.43 | 25 000.00 | 34 317.65 | 0.08 |
| Total USD |  | 3 220 611.28 | 7.47 |
| Total Notes, fixed rate |  | 3 411 608.92 | 7.91 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BK OF AMERICA CORP 3.004%/VAR 18-20.12.23 | 120 000.00 | 125 975.43 | 0.29 |
| USD	ELECTRICITE DE FRANCE SA-REG-S-SUB 5.625%/VAR 14-PRP | 185 000.00 | 193 787.50 | 0.45 |
| USD	NATWEST GROUP PLC 4.519%/VAR 18-25.06.24 | 200 000.00 | 215 565.24 | 0.50 |
| Total USD |  | 535 328.17 | 1.24 |
| Total Notes, floating rate |  | 535 328.17 | 1.24 |
| Medium term notes, fixed rate |  |  |  |
| AUD |  |  |  |
| AUD	AURIZON NETWORK PTY LTD-REG-S 4.00000% 17-21.06.24 | 30 000.00 | 23 219.26 | 0.05 |
| AUD	BANCO SANTANDER SA 4.00000% 17-19.01.23 | 200 000.00 | 149 982.44 | 0.35 |
| Total AUD |  | 173 201.70 | 0.40 |

UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD)
Annual report and audited financial statements as of 30 September 2020
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| EUR |  |  |  |  |
| EUR | BANCO SANTANDER SA-REG-S-SUB 3.25000% 16-04.04.26 | 100 000.00 | 129 326.87 | 0.30 |
| EUR | BAT INTERNATIONAL FINANCE PLC-REG-S 0.87500% 15-13.10.23 | 100 000.00 | 119 383.51 | 0.28 |
| EUR | BNP PARIBAS-REG-S 1.00000% 18-17.04.24 | 100 000.00 | 120 643.87 | 0.28 |
| EUR | BPCE SA-REG-S 1.37500% 18-23.03.26 | 100 000.00 | 123 191.80 | 0.29 |
| EUR | CANAL DE ISABEL II GESTION SA-REG-S 1.68000% 15-26.02.25 | 100 000.00 | 124 393.63 | 0.29 |
| EUR | CREDIT AGRICOLE SA LONDON-REG-S 1.37500% 18-13.03.25 | 100 000.00 | 122 871.44 | 0.28 |
| EUR | DAIMLER AG-REG-S 2.00000% 20-22.08.26 | 25 000.00 | 31 717.25 | 0.07 |
| EUR | DEUTSCHE BANK AG-REG-S 1.62500% 19-12.02.21 | 100 000.00 | 117 841.24 | 0.27 |
| EUR | FORD MOTOR CREDIT CO LLC 3.02100% 19-06.03.24 | 100 000.00 | 114 773.12 | 0.27 |
| EUR | GALP GAS NATURAL DISTRIBUICAO SA-REG-S 1.37500% 16-19.09.23 | 100 000.00 | 120 248.23 | 0.28 |
| EUR | GLOBALWORTH REAL ESTATE INVEST-REG-S 3.00000% 18-29.03.25 | 100 000.00 | 117 851.33 | 0.27 |
| EUR | GOLDMAN SACHS GROUP INC-REG-S 1.62500% 16-27.07.26 | 50 000.00 | 62 443.26 | 0.14 |
| EUR | ING GROEP NV-REG-S 1.12500% 18-14.02.25 | 100 000.00 | 122 017.98 | 0.28 |
| EUR | NET4GAS SRO-REG-S 2.50000% 14-28.07.21 | 100 000.00 | 119 059.16 | 0.28 |
| EUR | PETROLEOS MEXICANOS-REG-S 3.75000% 17-21.02.24 | 100 000.00 | 110 705.49 | 0.26 |
| EUR | REDEXIS GAS FINANCE BV-REG-S 1.87500% 15-27.04.27 | 100 000.00 | 123 703.45 | 0.29 |
| Total EUR |  |  | 1 780 171.63 | 4.13 |
| GBP |  |  |  |  |
| GBP | ANGLIAN WATER SERVICES FINANCING-REG-S 4.50000% 13-22.02.26 | 100 000.00 | 142 590.41 | 0.33 |
| GBP | LLOYDS BANKING GROUP PLC 2.25000% 17-16.10.24 | 100 000.00 | 133 672.93 | 0.31 |
| GBP | PHOENIX GROUP HOLDINGS PLC-REG-S-SUB 4.12500% 17-20.07.22 | 100 000.00 | 134 089.28 | 0.31 |
| Total GBP |  |  | 410 352.62 | 0.95 |
| USD |  |  |  |  |
| USD | BANK OF AMERICA CORP 3.87500% 15-01.08.25 | 100 000.00 | 113 648.00 | 0.26 |
| USD | MORGAN STANLEY 4.00000% 15-23.07.25 | 110 000.00 | 124 327.52 | 0.29 |
| USD | MORGAN STANLEY-SUB 4.35000% 14-08.09.26 | 30 000.00 | 34 725.02 | 0.08 |
| USD | WALT DISNEY CO/THE 1.85000% 16-30.07.26 | 10 000.00 | 10 484.60 | 0.03 |
| USD | WELLS FARGO & CO 2.62500% 17-22.07.22 | 70 000.00 | 72 575.86 | 0.17 |
| Total USD |  |  | 355 761.00 | 0.83 |
| Total Medium term notes, fixed rate |  | 2 719 486.95 | 6.31 |
| Medium term notes, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	AXA SA-REG-S-SUB 3.250%/VAR 18-28.05.49 | 100 000.00 | 131 231.26 | 0.30 |
| EUR	BARCLAYS PLC-REG-S-SUB 2.625%/VAR 15-11.11.25 | 140 000.00 | 164 286.58 | 0.38 |
| EUR	COMMONWEALTH BK OF AUSTRLIA-REG-S-SUB 1.936%/VAR 17-03.10.29 | 100 000.00 | 120 823.99 | 0.28 |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S-SUB 2.625%/VAR 18-PRP | 100 000.00 | 121 510.19 | 0.28 |
| EUR	UBS AG-REG-S-SUB 4.750%/VAR 14-12.02.26 | 100 000.00 | 118 584.23 | 0.28 |
| Total EUR |  | 656 436.25 | 1.52 |
| GBP |  |  |  |
| GBP	BARCLAYS PLC-REG-S 2.375%/VAR 17-06.10.23 | 100 000.00 | 131 978.07 | 0.30 |
| GBP	CYBG PLC-REG-S 3.375%/VAR 18-24.04.26 | 100 000.00 | 129 538.82 | 0.30 |
| GBP	YORKSHIRE WATER SERVICES FIN-REG-S 3.750%/VAR 10-22.03.46 | 110 000.00 | 146 275.43 | 0.34 |
| Total GBP |  | 407 792.32 | 0.94 |
| USD |  |  |  |
| USD	DBS GROUP HOLDINGS LTD-REG-S-SUB 3.600%/VAR 16-PRP | 200 000.00 | 201 186.00 | 0.47 |
| Total USD |  | 201 186.00 | 0.47 |
| Total Medium term notes, floating rate |  | 1 265 414.57 | 2.93 |
| Bonds, fixed rate |  |  |  |
| AUD |  |  |  |
| AUD	AUSTRALIA-REG-S 2.25000% 16-21.05.28 | 610 000.00 | 490 247.61 | 1.14 |
| Total AUD |  | 490 247.61 | 1.14 |
| CAD |  |  |  |
| CAD	CANADA, GOVERNMENT 1.50000% 19-01.09.24 | 800 000.00 | 627 213.18 | 1.45 |
| Total CAD |  | 627 213.18 | 1.45 |
| EUR |  |  |  |
| EUR	ADO PROPERTIES SA-REG-S 1.50000% 17-26.07.24 | 100 000.00 | 112 191.41 | 0.26 |
| EUR	IRELAND, REPUBLIC OF-REG-S 1.00000% 16-15.05.26 | 560 000.00 | 711 313.55 | 1.65 |
| EUR	RESA SA/BELGIUM-REG-S 1.00000% 16-22.07.26 | 100 000.00 | 120 404.02 | 0.28 |
| EUR	SPAIN, KINGDOM OF-REG-S 1.60000% 15-30.04.25 | 200 000.00 | 254 952.40 | 0.59 |
| EUR	TAURON POLSKA ENERGIA SA-REG-S 2.37500% 17-05.07.27 | 100 000.00 | 118 804.10 | 0.27 |
| EUR	TDF INFRASTRUCTURE SAS 2.87500% 15-19.10.22 | 100 000.00 | 120 944.78 | 0.28 |
| EUR	TEVA PHARMACEUTICAL FINANCE II BV-REG-S 1.12500% 16-15.10.24 | 140 000.00 | 141 751.40 | 0.33 |
| EUR	TRANSPORT ET INFRASTRUCTURES GAZ-REG-S 2.20000% 15-05.08.25 | 100 000.00 | 127 091.81 | 0.29 |
| EUR	VOLKSWAGEN INTERNATIONAL FIN NV-REG-S 1.12500% 17-02.10.23 | 100 000.00 | 119 848.35 | 0.28 |
| EUR	VOLKSWAGEN INTERNATIONAL FIN NV-REG-S 4.12500% 18-16.11.38 | 100 000.00 | 157 686.24 | 0.37 |
| EUR	VVO-YHTYMA OYJ-REG-S 1.62500% 16-17.10.23 | 100 000.00 | 121 402.97 | 0.28 |
| Total EUR |  | 2 106 391.03 | 4.88 |
| GBP |  |  |  |
| GBP	BARCLAYS BANK PLC-SUB 9.50000% 96-07.08.21 | 55 000.00 | 75 938.22 | 0.18 |
| Total GBP |  | 75 938.22 | 0.18 |
| JPY |  |  |  |
| JPY	JAPAN 0.10000% 20-01.05.22 | 53 000 000.00 | 504 577.28 | 1.17 |
| JPY	JAPAN 0.40000% 15-20.03.25 | 80 000 000.00 | 775 968.92 | 1.80 |
| Total JPY |  | 1 280 546.20 | 2.97 |

UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD) Annual report and audited financial statements as of 30 September 2020
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| USD |  |  |  |  |
| USD | AMERICAN AIRLINES PASS THROUGH TRUST 4.37500% 14-01.10.22 | 50 000.00 | 18 044.53 | 0.04 |
| USD | CITIGROUP INC 3.87500% 13-25.10.23 | 160 000.00 | 175 212.15 | 0.41 |
| USD | CNAC HK FINBRIDGE CO LTD-REG-S 4.62500% 18-14.03.23 | 200 000.00 | 211 750.00 | 0.49 |
| USD | MEXICO CITY AIRPORT TRUST-REG-S 5.50000% 17-31.07.47 | 200 000.00 | 162 554.00 | 0.38 |
| USD | MITSUBISHI UFJ FINANCIAL GROUP INC 2.66500% 17-25.07.22 | 40 000.00 | 41 427.20 | 0.10 |
| USD | NATL RURAL UTIL COOPERATIVE FIN CORP 3.70000% 19-15.03.29 | 25 000.00 | 29 352.67 | 0.07 |
| USD | PACIFICORP 2.70000% 20-15.09.30 | 10 000.00 | 10 964.91 | 0.02 |
| USD | REYNOLDS AMERICAN INC 4.45000% 15-12.06.25 | 40 000.00 | 45 013.53 | 0.10 |
| USD | SOUTHERN CALIFORNIA EDISON CO 3.70000% 18-01.08.25 | 25 000.00 | 27 711.72 | 0.06 |
| Total USD |  |  | 722 030.71 | 1.67 |
| Total Bonds, fixed rate |  | 5 302 366.95 | 12.29 |
| Bonds, zero coupon |  |  |  |
| EUR |  |  |  |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.00000% 19-25.03.25 | 310 000.00 | 373 535.79 | 0.87 |
| EUR	GERMANY, REPUBLIC OF-REG-S 0.00000% 20-11.04.25 | 1 040 000.00 | 1 260 230.63 | 2.92 |
| Total EUR |  | 1 633 766.42 | 3.79 |
| Total Bonds, zero coupon |  | 1 633 766.42 | 3.79 |
| Bonds, floating rate |  |  |  |
| EUR |  |  |  |
| EUR	CREDIT LOGEMENT SA-SUB 4.60400%/3M EURIBOR+115BP 06-PRP | 100 000.00 | 98 976.35 | 0.23 |
| EUR	SWISS LIFE AG VIA DEMETER INV BV-SUB 4.375%/VAR 15-PRP | 100 000.00 | 130 219.85 | 0.30 |
| EUR	UNIBAIL-RODAMCO SE-REG-S-SUB 2.875%/VAR 18-PRP | 100 000.00 | 102 371.17 | 0.24 |
| EUR	VOLKSWAGEN INTL FINANCE NV-REG-S-SUB 3.375%/VAR 18-PRP | 100 000.00 | 118 057.65 | 0.27 |
| Total EUR |  | 449 625.02 | 1.04 |
| USD |  |  |  |
| USD	SCOR SE-REG-S-SUB 5.250%/VAR 18-PRP | 200 000.00 | 201 900.00 | 0.47 |
| USD	WESTPAC BANKING CORP-SUB 5.000%/VAR 17-PRP | 90 000.00 | 91 278.00 | 0.21 |
| Total USD |  | 293 178.00 | 0.68 |
| Total Bonds, floating rate |  | 742 803.02 | 1.72 |
| Treasury notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 1.87500% 17-31.07.22 | 1 130 000.00 | 1 166 107.00 | 2.70 |
| USD	AMERICA, UNITED STATES OF 2.75000% 18-30.11.20 | 3 600 000.00 | 3 615 571.44 | 8.38 |
| USD	AMERICA, UNITED STATES OF 1.50000% 16-28.02.23 | 240 000.00 | 247 884.36 | 0.57 |
| USD	AMERICA, UNITED STATES OF 2.00000% 12-15.02.22 | 1 440 000.00 | 1 477 068.62 | 3.42 |
| USD	AMERICA, UNITED STATES OF 1.37500% 16-30.09.23 | 360 000.00 | 373 134.35 | 0.87 |
| USD	AMERICA, UNITED STATES OF TB 0.37500% 30.04.20-30.04.25 | 660 000.00 | 663 892.94 | 1.54 |
| USD	AMERICA, UNITED STATES OF 0.25000% 20-31.05.25 | 1 340 000.00 | 1 340 156.91 | 3.11 |
| Total USD |  | 8 883 815.62 | 20.59 |
| Total Treasury notes, fixed rate |  | 8 883 815.62 | 20.59 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 24 494 590.62 | 56.78 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Treasury bills, zero coupon |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF TB 0.00000% 26.03.20-25.03.21 | 4 300 000.00 | 4 297 752.95 | 9.96 |
| USD	AMERICA, UNITED STATES OF TB 0.00000% 05.12.19-03.12.20 | 3 400 000.00 | 3 399 434.75 | 7.88 |
| Total USD |  | 7 697 187.70 | 17.84 |
| Total Treasury bills, zero coupon |  | 7 697 187.70 | 17.84 |
| Notes, fixed rate |  |  |  |
| CAD |  |  |  |
| CAD	ROYAL BANK OF CANADA 1.65000% 16-15.07.21 | 95 000.00 | 71 851.51 | 0.16 |
| CAD	TELUS CORP 3.75000% 14-17.01.25 | 15 000.00 | 12 338.12 | 0.03 |
| Total CAD |  | 84 189.63 | 0.19 |
| USD |  |  |  |
| USD	ABBVIE INC-144A 3.45000% 20-15.03.22 | 40 000.00 | 41 489.19 | 0.10 |
| USD	ABBVIE INC-144A 4.75000% 20-15.03.45 | 12 000.00 | 14 501.90 | 0.03 |
| USD	BRISTOL-MYERS SQUIBB CO 3.87500% 20-15.08.25 | 70 000.00 | 79 811.55 | 0.19 |
| USD	BROADCOM INC 3.15000% 20-15.11.25 | 35 000.00 | 37 909.50 | 0.09 |
| USD	CHEVRON PHILLIPS CHEMICAL CO LLC-144A 3.30000% 18-01.05.23 | 125 000.00 | 132 633.89 | 0.31 |
| USD	CITIGROUP INC-SUB 4.60000% 16-09.03.26 | 30 000.00 | 34 390.41 | 0.08 |
| USD	COSTCO WHOLESALE CORP 1.60000% 20-20.04.30 | 15 000.00 | 15 250.98 | 0.04 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 5.30000% 19-01.10.29 | 85 000.00 | 97 486.44 | 0.23 |
| USD	ENLINK MIDSTREAM PARTNERS LP 4.40000% 14-01.04.24 | 50 000.00 | 45 000.00 | 0.10 |
| USD	ERAC USA FINANCE LLC-144A 5.62500% 12-15.03.42 | 30 000.00 | 38 209.51 | 0.09 |
| USD	GLENCORE FUNDING LLC-144A 4.87500% 19-12.03.29 | 50 000.00 | 58 485.76 | 0.14 |
| USD	JPMORGAN CHASE & CO-SUB 3.62500% 16-01.12.27 | 75 000.00 | 83 984.60 | 0.19 |
| USD	KINDER MORGAN INC-144A 5.62500% 13-15.11.23 | 40 000.00 | 45 041.52 | 0.10 |
| USD	LIBERTY MUTUAL GROUP INC-144A 4.56900% 19-01.02.29 | 50 000.00 | 60 321.88 | 0.14 |
| USD	MPLX LP 4.25000% 20-01.12.27 | 20 000.00 | 22 415.87 | 0.05 |
| USD	NXP BV / NXP FDNG LLC / NXP USA-144A 2.70000% 20-01.05.25 | 5 000.00 | 5 296.81 | 0.01 |
| USD	ONCOR ELECTRIC DELIVERY CO 3.70000% 19-15.11.28 | 20 000.00 | 23 521.07 | 0.05 |
| USD	ORIGIN ENERGY FINANCE LTD-REG-S 5.45000% 11-14.10.21 | 40 000.00 | 41 751.20 | 0.10 |
| USD	OTIS WORLDWIDE CORP 2.56500% 20-15.02.30 | 50 000.00 | 53 736.54 | 0.12 |
| USD	PPL CAPITAL FUNDING INC 4.70000% 13-01.06.43 | 85 000.00 | 104 118.80 | 0.24 |

UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD)
Annual report and audited financial statements as of 30 September 2020
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | SOUTHWESTERN ELECTRIC POWER 6.20000% 10-15.03.40 | 75 000.00 | 103 144.51 | 0.24 |
| USD | SWISS RE TREASURY (US) CORP-144A 4.25000% 12-06.12.42 | 40 000.00 | 49 494.84 | 0.11 |
| USD | TEVA PHARMACEUTICAL FINANCE IV LLC 3.65000% 11-10.11.21 | 20 000.00 | 19 931.25 | 0.05 |
| USD | UNITD AIRLNS 2016-1 CL B PAS THRUGH TRT 3.65000% 17-07.01.26 | 50 000.00 | 29 923.51 | 0.07 |
| USD | VIACOMCBS INC 4.75000% 20-15.05.25 | 95 000.00 | 109 144.81 | 0.25 |
| USD | XCEL ENERGY INC 4.80000% 11-15.09.41 | 120 000.00 | 150 189.46 | 0.35 |
| Total USD |  |  | 1 497 185.80 | 3.47 |
| Total Notes, fixed rate |  | 1 581 375.43 | 3.66 |
| Medium term notes, fixed rate |  |  |  |
| AUD |  |  |  |
| AUD	AUSGRID FINANCE PTY LTD-REG-S 3.75000% 17-30.10.24 | 50 000.00 | 39 107.31 | 0.09 |
| Total AUD |  | 39 107.31 | 0.09 |
| CAD |  |  |  |
| CAD	SUNCOR ENERGY INC 3.00000% 16-14.09.26	40 000.00 | 31 847.87 | 0.08 |
| Total CAD | 31 847.87 | 0.08 |
| Total Medium term notes, fixed rate | 70 955.18 | 0.17 |
| Bonds, floating rate |  |  |  |
| JPY |  |  |  |
| JPY	JAPAN 0.100%/CPI LINKED 19-10.03.29 | 27 000 000.00 | 255 970.92 | 0.59 |
| Total JPY |  | 255 970.92 | 0.59 |
| NZD |  |  |  |
| NZD	NEW ZEALAND 3.000%/CPI LINKED 13-20.09.30 | 740 000.00 | 729 219.69 | 1.69 |
| Total NZD |  | 729 219.69 | 1.69 |
| Total Bonds, floating rate |  | 985 190.61 | 2.28 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 10 334 708.92 | 23.95 |
| Recently issued transferable securities and money market instruments |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	CHEVRON PHILLIPS CHEMICAL CO LLC-144A 5.12500% 20-01.04.25 | 30 000.00 | 35 284.79 | 0.08 |
| USD	NXP BV / NXP FDNG LLC / NXP USA-144A 3.15000% 20-01.05.27 | 20 000.00 | 21 615.88 | 0.05 |
| Total USD |  | 56 900.67 | 0.13 |
| Total Notes, fixed rate | 56 900.67 | 0.13 |
| Total Recently issued transferable securities and money market instruments | 56 900.67 | 0.13 |
| 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 EDGE MSCI WORLD VALUE FACTOR-ETF-ACCUM	30 716.00 | 825 338.92 | 1.91 |
| EUR	ISHARES VII PLC - ISHARES MSCI EMU SMALL CAP UCITS ETF-EUR	3 742.00 | 860 322.32 | 2.00 |
| Total Ireland | 1 685 661.24 | 3.91 |
| Total Investment funds, open end | 1 685 661.24 | 3.91 |
| Total UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 | 1 685 661.24 | 3.91 |
| Total investments in securities | 36 571 861.45 | 84.77 |

| Derivative instruments |  |
| --- | --- |
| Derivative instruments listed on an official stock exchange Financial Futures on bonds |
|  |  |  |  |
| EUR	EURO-BUND FUTURE 08.12.20 | -5.00 | -2 579.83 | 0.00 |
| EUR	EURO-BUXL FUTURE 08.12.20 | -1.00 | -2 814.36 | -0.01 |
| GBP	LONG GILT FUTURE 29.12.20 | -6.00 | -2 327.04 | 0.00 |
| CAD	CAN 10YR BOND FUTURE 18.12.20 | 3.00 | -224.59 | 0.00 |
| USD	US 10YR ULTRA NOTE FUTURE 21.12.20 | -5.00 | -3 750.00 | -0.01 |
| USD	US 5YR TREASURY NOTE FUTURE 31.12.20 | 19.00 | 4 007.80 | 0.01 |
| USD	US 10YR TREASURY NOTE FUTURE 21.12.20 | -15.00 | 937.50 | 0.00 |
| USD	US 2YR TREASURY NOTE FUTURE 31.12.20 | 30.00 | 1 406.28 | 0.00 |
| USD	US ULTRA LONG BOND (CBT) FUTURE 21.12.20 | -2.00 | -562.50 | 0.00 |
| Total Financial Futures on bonds |  | -5 906.74 | -0.01 |

UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD) Annual report and audited financial statements as of 30 September 2020
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Financial Futures on Indices |  |  |  |
|  |  |  |  |
| USD	MSCI WORLD NR INDEX FUTURE 18.12.20 | -12.00 | 2 760.00 | 0.01 |
| EUR	EURO STOXX 50 INDEX FUTURE 18.12.20 | -29.00 | 40 978.25 | 0.10 |
| EUR	EURO STOXX BANKS PRICE INDEX FUTURE 18.12.20 | 223.00 | -89 694.83 | -0.21 |
| CHF	SWISS MARKET INDEX FUTURE 18.12.20 | 2.00 | -5 159.18 | -0.01 |
| GBP	FTSE 100 INDEX FUTURE 18.12.20 | 5.00 | -12 688.83 | -0.03 |
| EUR	FTSE/MIB INDEX FUTURE 18.12.20 | 7.00 | -33 244.63 | -0.08 |
| USD	S&P500 EMINI FUTURE 18.12.20 | 21.00 | 22 837.50 | 0.05 |
| AUD	SPI 200 INDEX FUTURES 17.12.20 | 2.00 | -3 404.56 | -0.01 |
| CAD	S&P/TSX 60 INDEX FUTURE 17.12.20 | 2.00 | -158.71 | 0.00 |
| USD	MINI MSCI EMERGING MARKETS INDEX FUTURE 18.12.20 | 65.00 | -34 820.00 | -0.08 |
| USD	RUSSELL 2000 E-MINI INDEX FUTURE 18.12.20 | -11.00 | -1 182.50 | 0.00 |
| JPY	TOPIX INDX FUTURE 10.12.20 | 3.00 | 6 396.29 | 0.01 |
| Total Financial Futures on Indices | -107 381.20 | -0.25 |
| Total Derivative instruments listed on an official stock exchange | -113 287.94 | -0.26 |
| Derivative instruments not listed on an official stock exchange and not traded on another regulated market |  |  |
| Credit default swaps* |  |  |
|  |  |  |
| EUR	ICE/ITRX.XOVER.34-V1 CDI REC 5.00000% 20-20.12.25	520 000.00 | 44 480.19 | 0.10 |
| USD	ICE/CDX.NA.HY.35-V1 CDI REC 5.00000% 20-20.12.25	1 500 000.00 | 63 544.33 | 0.15 |
| Total Credit default swaps | 108 024.52 | 0.25 |
| Total Derivative instruments not listed on an official stock exchange and not traded on another regulated market | 108 024.52 | 0.25 |
| Total Derivative instruments | -5 263.42 | -0.01 |
| Forward Foreign Exchange contracts |  |  |
| Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date |  |  |

| CLP | 519 600 000.00 | USD | 681 862.92 | 26.10.2020 | -22 222.77 | -0.05 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 639 032.82 | TWD | 18 500 000.00 | 26.10.2020 | -1 787.67 | 0.00 |
| MYR | 2 951 000.00 | USD | 712 888.03 | 26.10.2020 | -3 338.76 | -0.01 |
| USD | 637 127.38 | KRW | 747 000 000.00 | 26.10.2020 | -4 003.96 | -0.01 |
| COP | 9 852 991 000.00 | USD | 2 647 173.35 | 26.10.2020 | -93 922.13 | -0.22 |
| BRL | 13 850 000.00 | USD | 2 627 559.97 | 26.10.2020 | -171 532.16 | -0.40 |
| JPY | 251 700 000.00 | USD | 2 408 131.51 | 26.10.2020 | -22 441.97 | -0.05 |
| USD | 7 833 308.03 | EUR | 6 670 000.00 | 26.10.2020 | 8 076.07 | 0.02 |
| CHF | 17 879 300.00 | USD | 19 526 176.80 | 26.10.2020 | -53 255.24 | -0.12 |
| USD | 2 497 651.39 | THB | 78 430 000.00 | 26.10.2020 | 22 671.97 | 0.05 |
| ZAR | 21 830 000.00 | USD | 1 299 648.37 | 26.10.2020 | 5 516.91 | 0.01 |
| USD | 3 312 639.19 | NZD | 4 970 000.00 | 27.10.2020 | 27 461.62 | 0.06 |
| MXN | 41 850 000.00 | USD | 1 951 642.91 | 26.10.2020 | -61 007.85 | -0.14 |
| USD | 3 482 877.92 | CAD | 4 635 000.00 | 26.10.2020 | 12 661.39 | 0.03 |
| NOK | 47 770 000.00 | USD | 5 123 013.45 | 26.10.2020 | -17 415.16 | -0.04 |
| PLN | 2 425 000.00 | USD | 631 745.84 | 26.10.2020 | -4 511.09 | -0.01 |
| USD | 2 782 283.93 | GBP | 2 175 000.00 | 26.10.2020 | -29 884.20 | -0.07 |
| SEK | 23 260 000.00 | USD | 2 625 331.95 | 26.10.2020 | -25 843.63 | -0.06 |
| USD | 3 296 048.52 | AUD | 4 570 000.00 | 26.10.2020 | 20 358.96 | 0.05 |
| USD | 3 991 495.00 | CHF | 3 655 000.00 | 26.10.2020 | 10 716.77 | 0.03 |
| EUR | 1 806 800.00 | USD | 2 122 290.77 | 26.10.2020 | -2 556.27 | -0.01 |
| USD | 658 780.38 | AUD | 925 000.00 | 26.10.2020 | -4 242.12 | -0.01 |
| USD | 327 473.29 | TWD | 9 500 000.00 | 26.10.2020 | -1 596.69 | 0.00 |
| USD | 322 209.44 | KRW | 378 000 000.00 | 26.10.2020 | -2 218.47 | -0.01 |
| AUD | 920 000.00 | USD | 648 356.20 | 26.10.2020 | 11 082.40 | 0.03 |
| USD | 646 460.70 | HUF | 202 050 000.00 | 26.10.2020 | -5 702.05 | -0.01 |
| RUB | 50 509 600.00 | USD | 639 422.73 | 26.10.2020 | 10 082.23 | 0.02 |
| USD | 392 049.46 | CHF | 363 300.00 | 26.10.2020 | -3 632.27 | -0.01 |
| USD | 19 104.58 | EUR | 16 300.00 | 26.10.2020 | -18.55 | 0.00 |
| Total Forward Foreign Exchange contracts | -402 504.69 | -0.93 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 7 853 627.01 | 18.20 |
| Bank overdraft and other short-term liabilities | -974 311.26 | -2.26 |
| Other assets and liabilities | 96 751.69 | 0.23 |
| Total net assets | 43 140 160.78 | 100.00 |
| * Positive nominal: the subfund is “Receiver of protection”, negative nominal: the subfund is “Seller of protection”. |  |  |

UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD)
Annual report and audited financial statements as of 30 September 2020

Translation (ENDE, 2020-09-30):
# UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD)
| Dreijahresvergleich |  |
| --- | --- |
|  | ISIN | 30.9.2020 | 30.9.2019 | 30.9.2018 |
| Nettovermögen in USD |  | 43 140 160.78 | 57 425 010.94 | 87 150 059.39 |
| Klasse F-acc 1 | LU0425150785 |  |  |  |
| Aktien im Umlauf |  | - | - | 20 800.0000 |
| Nettoinventarwert pro Aktie in USD |  | - | - | 100.46 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 2 |  | - | - | 100.32 |
| Klasse I-A1-acc 3 | LU0425151833 |  |  |  |
| Aktien im Umlauf |  | - | 4 087.0000 | 4 562.0000 |
| Nettoinventarwert pro Aktie in USD |  | - | 94.52 | 93.07 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 2 |  | - | 94.52 | 92.94 |
| Klasse (EUR hedged) I-A2-acc 4 | LU0920342325 |  |  |  |
| Aktien im Umlauf |  | - | 74 639.4450 | 74 639.4450 |
| Nettoinventarwert pro Aktie in EUR |  | - | 93.81 | 95.08 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 2 |  | - | 93.81 | 94.95 |
| Klasse I-B-acc | LU0425154183 |  |  |  |
| Aktien im Umlauf |  | 118 722.0810 | 117 032.7840 | 121 689.6200 |
| Nettoinventarwert pro Aktie in USD |  | 131.77 | 128.74 | 125.39 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 2 |  | 131.77 | 128.74 | 125.21 |
| Klasse (EUR hedged) I-B-acc 5 | LU0945635695 |  |  |  |
| Aktien im Umlauf |  | - | - | 126 791.5270 |
| Nettoinventarwert pro Aktie in EUR |  | - | - | 104.87 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 2 |  | - | - | 104.72 |
| Klasse I-X-acc | LU0425154852 |  |  |  |
| Aktien im Umlauf |  | 7 262.8630 | 11 013.3600 | 39 084.4970 |
| Nettoinventarwert pro Aktie in USD |  | 131.13 | 128.03 | 124.62 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 2 |  | 131.13 | 128.03 | 124.45 |
| Klasse (CHF hedged) I-X-acc | LU0943632256 |  |  |  |
| Aktien im Umlauf |  | 171 098.4010 | 183 781.4010 | 187 868.2040 |
| Nettoinventarwert pro Aktie in CHF |  | 102.12 | 101.89 | 102.60 |
| Ausgabe- und Rücknahmepreis pro Aktie in CHF 2 |  | 102.12 | 101.89 | 102.46 |
| Klasse (EUR hedged) I-X-acc 6 | LU1191107694 |  |  |  |
| Aktien im Umlauf |  | - | 48 721.1760 | 48 721.1770 |
| Nettoinventarwert pro Aktie in EUR |  | - | 90.00 | 90.26 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 2 |  | - | 90.00 | 90.13 |
| Klasse (EUR hedged) N-4%-mdist | LU1240811577 |  |  |  |
| Aktien im Umlauf |  | 2 500.7590 | 3 144.9090 | 2 786.8140 |
| Nettoinventarwert pro Aktie in EUR |  | 65.77 | 69.93 | 74.82 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 2 |  | 65.77 | 69.93 | 74.72 |
| Klasse (EUR hedged) N-acc | LU1089022138 |  |  |  |
| Aktien im Umlauf |  | 3 386.2660 | 4 799.4780 | 6 679.3020 |
| Nettoinventarwert pro Aktie in EUR |  | 81.85 | 83.69 | 86.11 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 2 |  | 81.85 | 83.69 | 85.99 |
| Klasse (EUR hedged) P-4%-mdist | LU1240811494 |  |  |  |
| Aktien im Umlauf |  | 6 202.2090 | 6 818.9950 | 5 870.4390 |
| Nettoinventarwert pro Aktie in EUR |  | 67.78 | 71.64 | 76.23 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 2 |  | 67.78 | 71.64 | 76.12 |
| Klasse P-acc | LU0218832805 |  |  |  |
| Aktien im Umlauf |  | 43 866.2730 | 52 426.4050 | 91 312.8740 |
| Nettoinventarwert pro Aktie in USD |  | 118.53 | 118.02 | 117.15 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 2 |  | 118.53 | 118.02 | 116.99 |
| Klasse (CHF hedged) P-acc | LU0849400626 |  |  |  |
| Aktien im Umlauf |  | 2 209.7090 | 2 140.0990 | 3 846.4610 |
| Nettoinventarwert pro Aktie in CHF |  | 89.72 | 91.34 | 93.81 |
| Ausgabe- und Rücknahmepreis pro Aktie in CHF 2 |  | 89.72 | 91.34 | 93.68 |
| Klasse (EUR hedged) P-acc | LU0849401350 |  |  |  |
| Aktien im Umlauf |  | 7 333.2130 | 14 138.0130 | 28 167.4550 |
| Nettoinventarwert pro Aktie in EUR |  | 92.75 | 94.27 | 96.43 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 2 |  | 92.75 | 94.27 | 96.29 |

UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD)
Jahresbericht und geprüfter Jahresabschluss per 30. September 2020
|  | ISIN | 30.9.2020 | 30.9.2019 | 30.9.2018 |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Klasse Q-acc 7 | LU1240792256 |  |  |  |
| Aktien im Umlauf |  | - | - | 181.8080 |
| Nettoinventarwert pro Aktie in USD |  | - | - | 98.71 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 2 |  | - | - | 98.57 |
| Klasse (EUR hedged) Q-acc | LU1121267162 |  |  |  |
| Aktien im Umlauf |  | 2 949.9380 | 3 342.9160 | 2 965.6790 |
| Nettoinventarwert pro Aktie in EUR |  | 87.40 | 88.21 | 89.59 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 2 |  | 87.40 | 88.21 | 89.46 |
| 1  Die Aktienklasse F-acc war bis zum 1.10.2018 im Umlauf 2  Siehe Erläuterung 1 3  Die Aktienklasse I-A1-acc war bis zum 16.1.2020 im Umlauf 4  Die Aktienklasse (EUR hedged) I-A2-acc war bis zum 6.12.2019 im Umlauf 5  Die Aktienklasse (EUR hedged) I-B-acc war bis zum 8.4.2019 im Umlauf 6  Die Aktienklasse (EUR hedged) I-X-acc war bis zum 6.3.2020 im Umlauf 7  Die Aktienklasse Q-acc war bis zum 12.10.2018 im Umlauf |  |  |  |  |
| Performance |  |  |  |  |
|  | Währung | 2019/2020 | 2018/2019 | 2017/2018 |
| Klasse F-acc 1 | USD | - | - | -2.3% |
| Klasse I-A1-acc 2 | USD | - | 1.6% | -3.1% |
| Klasse (EUR hedged) I-A2-acc 3 | EUR | - | -1.3% | -5.5% |
| Klasse I-B-acc | USD | 2.4% | 2.7% | -2.0% |
| Klasse (EUR hedged) I-B-acc 4 | EUR | - | - | -4.6% |
| Klasse I-X-acc | USD | 2.4% | 2.7% | -2.0% |
| Klasse (CHF hedged) I-X-acc | CHF | 0.2% | -0.7% | -4.9% |
| Klasse (EUR hedged) I-X-acc 5 | EUR | - | -0.3% | -4.5% |
| Klasse (EUR hedged) N-4%-mdist | EUR | -2.2% | -2.7% | -6.7% |
| Klasse (EUR hedged) N-acc | EUR | -2.2% | -2.7% | -6.7% |
| Klasse (EUR hedged) P-4%-mdist | EUR | -1.6% | -2.1% | -6.2% |
| Klasse P-acc | USD | 0.4% | 0.9% | -3.7% |
| Klasse (CHF hedged) P-acc | CHF | -1.8% | -2.5% | -6.6% |
| Klasse (EUR hedged) P-acc | EUR | -1.6% | -2.1% | -6.2% |
| Klasse Q-acc 6 | USD | - | - | -3.0% |
| Klasse (EUR hedged) Q-acc | EUR | -0.9% | -1.4% | -5.3% |

1 
Die Aktienklasse F-acc war bis zum 1.10.2018 im Umlauf. Auf Grund dessen liegen keine Daten für die Berechnung der Performance vor.
2 
Die Aktienklasse I-A1-acc war bis zum 16.1.2020 im Umlauf. Auf Grund dessen liegen keine Daten für die Berechnung der Performance vor.
3 
Die Aktienklasse (EUR hedged) I-A2-acc war bis zum 6.12.2019 im Umlauf. Auf Grund dessen liegen keine Daten für die Berechnung der Performance vor.
4 
Die Aktienklasse (EUR hedged) I-B-acc war bis zum 8.4.2019 im Umlauf. Auf Grund dessen liegen keine Daten für die Berechnung der Performance vor.
5 
Die Aktienklasse (EUR hedged) I-X-acc war bis zum 6.3.2020 im Umlauf. Auf Grund dessen liegen keine Daten für die Berechnung der Performance vor.
6 
Die Aktienklasse Q-acc war bis zum 12.10.2018 im Umlauf. Auf Grund dessen liegen keine Daten für die Berechnung der Performance vor.
Die historische Performance stellt keinen Indikator für die laufende oder zukünftige Performance dar.
Die Performancedaten lassen die bei der Ausgabe und Rücknahme der Aktien erhobenen Kommissionen und Kosten unberücksichtigt. Die Performancedaten sind ungeprüft.
Der Subfonds verfügt über keine Benchmark.
UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD) Jahresbericht und geprüfter Jahresabschluss per 30. September 2020

## Bericht des Portfolio Managers
Das Geschäftsjahr vom 1. Oktober 2019 bis zum
30. September 2020 war geprägt von extremer Marktvolatilität. Mit der globalen Ausbreitung des Coronavirus nahm der anfängliche Marktoptimismus im 4. Quartal 2019 aufgrund eines Phase-1-Handelsab- kommens zwischen China und den USA ab und führte im 1. Quartal 2020 über riskante Anlageklassen hinweg zu einem Ausverkauf. Dank fiskalischer und monetä- rer Unterstützung erholten sich die Finanzmärkte im zweiten Quartal. Im 3. Quartal übertrafen die Wirt- schaftsdaten im Allgemeinen weiterhin weltweit die Erwartungen, die Entwicklung von Impfstoffen machte weitere Fortschritte, und bessere Test- und Behand- lungskapazitäten trugen dazu bei, vollständige Lock- downs zu vermeiden.
Über die verschiedenen Anlageklassen hinweg gab es eine hohe Streuung. US-Aktien, insbesondere Technolo- gieunternehmen, legten deutlich zu, während europäi- sche Aktien das Jahr im negativen Bereich beendeten.
Die Performance des Teilfonds war im Geschäftsjahr positiv für Anteilsklassen in USD und negativ für die in CHF und EUR abgesicherten Anteilsklassen. Hauptsäch- lich bedingt durch einen Risikoabbau im März bewegte sich die Aktienallokation in einer Bandbreite von 15% bis 25%. Insgesamt gingen Aktien- und währungsbezo- gene taktische Handelsgeschäfte zurück, während die Positionierung bei den festverzinslichen Wertpapieren zuträglich war.
UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD)
Jahresbericht und geprüfter Jahresabschluss per 30. September 2020

## Struktur des Wertpapierbestandes
Geographische Aufteilung in % des Nettovermögens	
Vereinigte Staaten	50.30
Irland	5.56
Frankreich	3.98
Japan	3.66
Grossbritannien	3.47
Deutschland	3.27
Niederlande	2.54
Kanada	2.22
Australien	1.92
Neuseeland	1.90
Spanien	1.53
Mexiko	1.15
Hongkong	0.49
Singapur	0.47
Finnland	0.28
Belgien	0.28
Portugal	0.28
Tschechische Republik	0.28
Polen	0.27
Schweiz	0.27
Rumänien	0.27
Luxemburg	0.26
Cayman-Inseln	0.08
Total	84.77
Curaçao	0.04
Wirtschaftliche Aufteilung in % des Nettovermögens	
| Länder- & Zentralregierungen | 52.30 |
| --- | --- |
| Banken & Kreditinstitute | 8.48 |
| Finanz- & Beteiligungsgesellschaften | 6.25 |
| Anlagefonds | 4.18 |
| Erdöl | 2.45 |
| Energie- & Wasserversorgung | 2.15 |
| Versicherungen | 1.65 |
| Chemie | 1.06 |
| Pharmazeutik, Kosmetik & medizinische Produkte | 1.03 |
| Immobilien | 0.89 |
| Telekommunikation | 0.85 |
| Diverse Dienstleistungen | 0.67 |
| Verkehr & Transport | 0.58 |
| Elektrische Geräte & Komponenten | 0.51 |
| Maschinen & Apparate | 0.28 |
| Tabak & alkoholische Getränke | 0.26 |
| Nahrungsmittel & Softdrinks | 0.21 |
| Grafisches Gewerbe, Verlage & Medien | 0.16 |
| Biotechnologie | 0.15 |
| Bergbau, Kohle & Stahl | 0.14 |
| Flugzeug- & Raumfahrtindustrie | 0.11 |
| Computer & Netzwerkausrüster | 0.09 |
| Diverse nicht klassierte Gesellschaften | 0.08 |
| Fahrzeuge | 0.07 |
| Internet, Software & IT-Dienste | 0.06 |
| Diverse Konsumgüter | 0.05 |
| Detailhandel, Warenhäuser | 0.04 |
| Textilien, Kleidung & Lederwaren | 0.02 |
| Total | 84.77 |


## Nettovermögensaufstellung
Aktiva	30.9.2020
USD
Wertpapierbestand, Einstandswert	35 857 320.42
| Wertpapierbestand, nicht realisierte Werterhöhung (-minderung) | 	714 541.03	 |
| --- | --- |
| Total Wertpapierbestand (Erläuterung 1) | 36 571 861.45 |
| Bankguthaben, Sicht- und Fristgelder | 6 505 521.85 |
| Andere liquide Mittel (Margins) | 1 348 105.16 |
| Forderungen aus Wertpapierverkäufen (Erläuterung 1) | 18.91 |
| Forderungen aus Zeichnungen | 158.82 |
| Zinsforderungen aus Wertpapieren | 179 579.32 |
| Sonstige Forderungen | 32 359.63 |
| Nicht realisierter Kursgewinn aus Swaps (Erläuterung 1) | 108 024.52 |
| Total Aktiva | 44 745 629.66 |
|  |  |
| Passiva |  |
| Nicht realisierter Kursverlust aus Finanzterminkontrakten (Erläuterung 1) | -113 287.94 |
| Nicht realisierter Kursverlust aus Devisenterminkontrakten (Erläuterung 1) | -402 504.69 |
| Kontokorrentkredit | -974 311.26 |
| Verbindlichkeiten aus Rücknahmen | -92 316.40 |
| Rückstellungen für pauschale Verwaltungskommission (Erläuterung 2) | -6 597.47 |
| Rückstellungen für Abonnementsabgabe (Erläuterung 3) | -1 831.12 |
| Rückstellungen für sonstige Kommissionen und Gebühren (Erläuterung 2) | 	-14 620.00	 |
| Total Rückstellungen für Aufwendungen | -23 048.59 |
| Total Passiva | -1 605 468.88 |
|  |  |
| Nettovermögen am Ende des Geschäftsjahres | 43 140 160.78 |
| Ertrags- und Aufwandsrechnung | USD |
| Erträge | 1.10.2019-30.9.2020 |
| Zinsertrag auf liquide Mittel | 13 224.86 |
| Zinsen auf Wertpapiere | 774 164.32 |
| Dividenden (Erläuterung 1) | 71 048.14 |
| Zinsertrag auf Swaps (Erläuterung 1) | 213 998.73 |
| Erträge aus Securities Lending (Erläuterung 16) | 28 259.20 |
| Sonstige Erträge (Erläuterung 4) | 51 300.15 |
| Total Erträge | 1 151 995.40 |
|  |  |
| Aufwendungen |  |
| Zinsaufwand auf Swaps (Erläuterung 1) | -87 477.27 |
| Pauschale Verwaltungskommission (Erläuterung 2) | -190 552.68 |
| Abonnementsabgabe (Erläuterung 3) | -7 600.64 |
| Kosten aus Securities Lending (Erläuterung 16) | -11 303.68 |
| Sonstige Kommissionen und Gebühren (Erläuterung 2) | -14 019.84 |
| Zinsaufwand auf liquide Mittel und Kontokorrentkredit | -11 516.73 |
| Total Aufwendungen | -322 470.84 |
|  |  |
| Nettoerträge (-verluste) aus Anlagen | 829 524.56 |
|  |  |
| Realisierte Gewinne (Verluste) (Erläuterung 1) |  |
| Realisierter Kursgewinn (-verlust) aus marktbewerteten Wertpapieren ausser Optionen | 947 354.82 |
| Realisierter Kursgewinn (-verlust) aus Optionen | -22 754.46 |
| Realisierter Kursgewinn (-verlust) aus renditebewerteten Wertpapieren und Geldmarktinstrumenten | 349 028.01 |
| Realisierter Kursgewinn (-verlust) aus Finanzterminkontrakten | 463 176.09 |
| Realisierter Kursgewinn (-verlust) aus Devisenterminkontrakten | 633 159.20 |
| Realisierter Kursgewinn (-verlust) aus Swaps | -538 839.50 |
| Realisierter Währungsgewinn (-verlust) | 283 841.02 |
| Total der realisierten Gewinne (Verluste) | 2 114 965.18 |
|  |  |
| Realisierter Nettogewinn (-verlust) des Geschäftsjahres | 2 944 489.74 |
|  |  |
| Veränderungen der nicht realisierten Werterhöhung (-minderung) (Erläuterung 1) |  |
| Nicht realisierte Werterhöhung (-minderung) marktbewerteter Wertpapiere ausser Optionen | -2 638.90 |
| Nicht realisierte Werterhöhung (-minderung) von Optionen | 13 232.22 |
| Nicht realisierte Werterhöhung (-minderung) renditebewerteter Wertpapiere und Geldmarktinstrumente | -118 423.29 |
| Nicht realisierte Werterhöhung (-minderung) von Finanzterminkontrakten | -392 780.78 |
| Nicht realisierte Werterhöhung (-minderung) von Devisenterminkontrakten | -262 608.15 |
| Nicht realisierte Werterhöhung (-minderung) von Swaps | 334 880.57 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | -428 338.33 |
|  |  |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | 2 516 151.41 |

UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD) Jahresbericht und geprüfter Jahresabschluss per 30. September 2020
| Veränderung des Nettovermögens |  |
| --- | --- |
|  | USD |
|  | 1.10.2019-30.9.2020 |
| Nettovermögen zu Beginn des Geschäftsjahres | 57 425 010.94 |
| Zeichnungen | 6 305 481.78 |
| Rücknahmen | 	-23 078 141.69	 |
| Total Mittelzufluss (-abfluss) | -16 772 659.91 |
| Ausbezahlte Dividende | -28 341.66 |
| Nettoerträge (-verluste) aus Anlagen | 829 524.56 |
| Total der realisierten Gewinne (Verluste) | 2 114 965.18 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | 	-428 338.33	 |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | 2 516 151.41 |
| Nettovermögen am Ende des Geschäftsjahres | 43 140 160.78 |
| Entwicklung der Aktien im Umlauf |  |
|  | 1.10.2019-30.9.2020 |
| Klasse | I-A1-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 4 087.0000 |
| Anzahl der ausgegebenen Aktien | 0.0000 |
| Anzahl der zurückgegebenen Aktien | -4 087.0000 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 0.0000 |
| Klasse | (EUR hedged) I-A2-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 74 639.4450 |
| Anzahl der ausgegebenen Aktien | 0.0000 |
| Anzahl der zurückgegebenen Aktien | -74 639.4450 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 0.0000 |
| Klasse | I-B-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 117 032.7840 |
| Anzahl der ausgegebenen Aktien | 21 806.1670 |
| Anzahl der zurückgegebenen Aktien | -20 116.8700 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 118 722.0810 |
| Klasse | I-X-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 11 013.3600 |
| Anzahl der ausgegebenen Aktien | 152.4560 |
| Anzahl der zurückgegebenen Aktien | -3 902.9530 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 7 262.8630 |
| Klasse | (CHF hedged) I-X-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 183 781.4010 |
| Anzahl der ausgegebenen Aktien | 27 457.0000 |
| Anzahl der zurückgegebenen Aktien | -40 140.0000 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 171 098.4010 |
| Klasse | (EUR hedged) I-X-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 48 721.1760 |
| Anzahl der ausgegebenen Aktien | 0.0000 |
| Anzahl der zurückgegebenen Aktien | -48 721.1760 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 0.0000 |
| Klasse | (EUR hedged) N-4%-mdist |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 3 144.9090 |
| Anzahl der ausgegebenen Aktien | 0.0000 |
| Anzahl der zurückgegebenen Aktien | -644.1500 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 2 500.7590 |
| Klasse | (EUR hedged) N-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 4 799.4780 |
| Anzahl der ausgegebenen Aktien | 413.7010 |
| Anzahl der zurückgegebenen Aktien | -1 826.9130 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 3 386.2660 |
| Klasse | (EUR hedged) P-4%-mdist |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 6 818.9950 |
| Anzahl der ausgegebenen Aktien | 0.0000 |
| Anzahl der zurückgegebenen Aktien | -616.7860 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 6 202.2090 |
| Klasse | P-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 52 426.4050 |
| Anzahl der ausgegebenen Aktien | 2 758.1190 |
| Anzahl der zurückgegebenen Aktien | -11 318.2510 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 43 866.2730 |
| Klasse | (CHF hedged) P-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 2 140.0990 |
| Anzahl der ausgegebenen Aktien | 867.0150 |
| Anzahl der zurückgegebenen Aktien | -797.4050 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 2 209.7090 |

UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD)
Jahresbericht und geprüfter Jahresabschluss per 30. September 2020
| Klasse | (EUR hedged) P-acc |
| --- | --- |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 14 138.0130 |
| Anzahl der ausgegebenen Aktien | 269.0350 |
| Anzahl der zurückgegebenen Aktien | -7 073.8350 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 7 333.2130 |
| Klasse | (EUR hedged) Q-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 3 342.9160 |
| Anzahl der ausgegebenen Aktien | 532.6790 |
| Anzahl der zurückgegebenen Aktien | -925.6570 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 2 949.9380 |

| Monatliche Ausschüttung 1 |  |
| --- | --- |
| UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD) | Ex-Date | Pay-Date | Währung | Betrag pro Aktie |
| (EUR hedged) N-4%-mdist | 10.10.2019 | 15.10.2019 | EUR | 0.23 |
| (EUR hedged) N-4%-mdist | 11.11.2019 | 14.11.2019 | EUR | 0.23 |
| (EUR hedged) N-4%-mdist | 10.12.2019 | 13.12.2019 | EUR | 0.23 |
| (EUR hedged) N-4%-mdist | 10.1.2020 | 15.1.2020 | EUR | 0.23 |
| (EUR hedged) N-4%-mdist | 10.2.2020 | 13.2.2020 | EUR | 0.23 |
| (EUR hedged) N-4%-mdist | 10.3.2020 | 13.3.2020 | EUR | 0.22 |
| (EUR hedged) N-4%-mdist | 14.4.2020 | 17.4.2020 | EUR | 0.20 |
| (EUR hedged) N-4%-mdist | 11.5.2020 | 14.5.2020 | EUR | 0.21 |
| (EUR hedged) N-4%-mdist | 10.6.2020 | 15.6.2020 | EUR | 0.21 |
| (EUR hedged) N-4%-mdist | 10.7.2020 | 15.7.2020 | EUR | 0.21 |
| (EUR hedged) N-4%-mdist | 10.8.2020 | 13.8.2020 | EUR | 0.22 |
| (EUR hedged) N-4%-mdist | 10.9.2020 | 15.9.2020 | EUR | 0.22 |
| (EUR hedged) P-4%-mdist | 10.10.2019 | 15.10.2019 | EUR | 0.23 |
| (EUR hedged) P-4%-mdist | 11.11.2019 | 14.11.2019 | EUR | 0.24 |
| (EUR hedged) P-4%-mdist | 10.12.2019 | 13.12.2019 | EUR | 0.23 |
| (EUR hedged) P-4%-mdist | 10.1.2020 | 15.1.2020 | EUR | 0.24 |
| (EUR hedged) P-4%-mdist | 10.2.2020 | 13.2.2020 | EUR | 0.23 |
| (EUR hedged) P-4%-mdist | 10.3.2020 | 13.3.2020 | EUR | 0.23 |
| (EUR hedged) P-4%-mdist | 14.4.2020 | 17.4.2020 | EUR | 0.21 |
| (EUR hedged) P-4%-mdist | 11.5.2020 | 14.5.2020 | EUR | 0.21 |
| (EUR hedged) P-4%-mdist | 10.6.2020 | 15.6.2020 | EUR | 0.22 |
| (EUR hedged) P-4%-mdist | 10.7.2020 | 15.7.2020 | EUR | 0.22 |
| (EUR hedged) P-4%-mdist | 10.8.2020 | 13.8.2020 | EUR | 0.22 |
| (EUR hedged) P-4%-mdist | 10.9.2020 | 15.9.2020 | EUR | 0.22 |
| 1  Siehe Erläuterung 5 |  |  |  |  |

UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD) Jahresbericht und geprüfter Jahresabschluss per 30. September 2020

## Aufstellung der Wertpapierbestände und anderer Nettovermögenswerte per 30. September 2020
| Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
| Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden |  |  |  |
| Notes, fester Zins |  |  |  |
| EUR |  |  |  |
| EUR	ABBVIE INC-144A 2.12500% 20-01.06.29 | 100 000.00 | 131 352.98 | 0.30 |
| EUR	GOLDMAN SACHS GROUP INC-REG-S 3.37500% 20-27.03.25 | 45 000.00 | 59 644.66 | 0.14 |
| Total EUR |  | 190 997.64 | 0.44 |
| USD |  |  |  |
| USD	3M CO 2.65000% 20-15.04.25 | 20 000.00 | 21 701.59 | 0.05 |
| USD	ABBVIE INC 4.25000% 18-14.11.28 | 50 000.00 | 59 311.42 | 0.14 |
| USD	AIR PRODUCTS & CHEMICALS INC 2.05000% 20-15.05.30 | 20 000.00 | 20 993.09 | 0.05 |
| USD	ALBEMARLE CORPORATION 5.45000% 14-01.12.44 | 50 000.00 | 54 895.21 | 0.13 |
| USD	ALTRIA GROUP INC 4.40000% 19-14.02.26 | 35 000.00 | 40 430.70 | 0.09 |
| USD	ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.15000% 19-23.01.25 | 25 000.00 | 28 288.19 | 0.07 |
| USD	APACHE CORP 4.25000% 12-15.01.44 | 80 000.00 | 68 000.00 | 0.16 |
| USD	APT PIPELINES LTD-REG-S 4.20000% 15-23.03.25 | 20 000.00 | 22 063.80 | 0.05 |
| USD	ARCHER-DANIELS MIDLAND CO 2.75000% 20-27.03.25 | 15 000.00 | 16 298.96 | 0.04 |
| USD	AT&T INC 4.35000% 19-01.03.29 | 80 000.00 | 94 168.57 | 0.22 |
| USD	BAT CAPITAL CORP 3.55700% 18-15.08.27 | 40 000.00 | 43 200.43 | 0.10 |
| USD	BIOGEN INC 2.25000% 20-01.05.30 | 65 000.00 | 66 565.07 | 0.15 |
| USD	CANADIAN NATURAL RESOURCES LTD 2.95000% 17-15.01.23 | 35 000.00 | 36 403.75 | 0.08 |
| USD	CANADIAN NATURAL RESOURCES LTD 3.85000% 17-01.06.27 | 50 000.00 | 53 835.71 | 0.13 |
| USD	CCO LLC/CAPITAL 4.50000% 18-01.02.24 | 60 000.00 | 66 529.00 | 0.15 |
| USD	CENOVUS ENERGY INC 4.25000% 17-15.04.27 | 40 000.00 | 36 163.21 | 0.08 |
| USD	CHEVRON CORP 1.14100% 20-11.05.23 | 10 000.00 | 10 193.40 | 0.02 |
| USD	CIGNA CORP 3.40000% 19-17.09.21 | 45 000.00 | 46 310.84 | 0.11 |
| USD	CIGNA CORP 4.37500% 19-15.10.28 | 40 000.00 | 47 582.31 | 0.11 |
| USD	CNOOC PETROLEUM NORTH AMERICA ULC 6.40000% 07-15.05.37 | 45 000.00 | 65 868.75 | 0.15 |
| USD	COMCAST CORP 3.95000% 18-15.10.25 | 50 000.00 | 57 389.68 | 0.13 |
| USD	CONAGRA BRANDS INC 3.80000% 18-22.10.21 | 20 000.00 | 20 680.65 | 0.05 |
| USD	CVS HEALTH CORP 2.62500% 19-15.08.24 | 45 000.00 | 47 965.53 | 0.11 |
| USD	CVS HEALTH CORP 3.35000% 18-09.03.21 | 16 000.00 | 16 208.94 | 0.04 |
| USD	DIAMONDBACK ENERGY INC 3.25000% 19-01.12.26 | 50 000.00 | 50 164.69 | 0.12 |
| USD	ENABLE MIDSTREAM PARTNERS LP 3.90000% 15-15.05.24 | 35 000.00 | 34 461.94 | 0.08 |
| USD	ENERGY TRANSFER OPERATING LP 4.50000% 19-15.04.24 | 35 000.00 | 37 073.30 | 0.09 |
| USD	EXELON CORP 3.40000% 16-15.04.26 | 25 000.00 | 27 991.53 | 0.07 |
| USD	GENERAL ELECTRIC CO 3.45000% 20-01.05.27 | 10 000.00 | 10 587.87 | 0.02 |
| USD	GENERAL ELECTRIC CO 3.62500% 20-01.05.30 | 10 000.00 | 10 356.13 | 0.02 |
| USD	GENERAL ELECTRIC CO 3.15000% 12-07.09.22 | 30 000.00 | 31 331.89 | 0.07 |
| USD	GENERAL MOTORS FINANCIAL CO 4.35000% 18-09.04.25 | 105 000.00 | 113 906.50 | 0.26 |
| USD	GEORGIA POWER CO 2.10000% 20-30.07.23 | 35 000.00 | 36 536.63 | 0.08 |
| USD	GOLDMAN SACHS GROUP INC 3.50000% 20-01.04.25 | 130 000.00 | 143 477.07 | 0.33 |
| USD	HCP INC 3.87500% 14-15.08.24 | 45 000.00 | 49 886.92 | 0.12 |
| USD	ILLINOIS TOOL WORKS INC 2.65000% 16-15.11.26 | 60 000.00 | 66 538.69 | 0.15 |
| USD	JPMORGAN CHASE & CO 3.20000% 13-25.01.23 | 270 000.00 | 287 004.06 | 0.67 |
| USD	KINDER MORGAN INC 3.15000% 17-15.01.23 | 45 000.00 | 47 262.76 | 0.11 |
| USD	KRAFT HEINZ FOODS CO 5.00000% 13-04.06.42 | 50 000.00 | 54 756.13 | 0.13 |
| USD	LINCOLN NATIONAL CORP 3.80000% 18-01.03.28 | 80 000.00 | 92 099.09 | 0.21 |
| USD	MARATHON OIL CORP 3.85000% 15-01.06.25 | 40 000.00 | 41 049.66 | 0.10 |
| USD	MEXICHEM SAB DE CV-REG-S 5.50000% 17-15.01.48 | 200 000.00 | 224 250.00 | 0.52 |
| USD	MORGAN STANLEY 2.50000% 16-21.04.21 | 140 000.00 | 141 695.91 | 0.33 |
| USD	NATWEST GROUP PLC-SUB 6.10000% 13-10.06.23 | 65 000.00 | 71 877.12 | 0.17 |
| USD	NIKE INC 2.40000% 20-27.03.25 | 10 000.00 | 10 743.05 | 0.02 |
| USD	NOBLE ENERGY INC 3.85000% 17-15.01.28 | 30 000.00 | 34 067.66 | 0.08 |
| USD	ORACLE CORP 2.50000% 20-01.04.25 | 25 000.00 | 26 790.00 | 0.06 |
| USD	SCENTRE GROUP TRUST 1 /2-REG-S 2.37500% 15-28.04.21 | 55 000.00 | 55 353.98 | 0.13 |
| USD	SOUTHERN CO 3.25000% 16-01.07.26 | 50 000.00 | 55 793.04 | 0.13 |
| USD	SUNCOR ENERGY INC 3.10000% 20-15.05.25 | 20 000.00 | 21 485.16 | 0.05 |
| USD	TEVA PHARMACEUTICAL FINANCE NL III BV 2.80000% 16-21.07.23 | 35 000.00 | 33 085.94 | 0.08 |
| USD	UNITED TECHNOLOGIES CORP 3.95000% 18-16.08.25 | 40 000.00 | 45 457.41 | 0.11 |
| USD	VALERO ENERGY CORP 2.85000% 20-15.04.25 | 10 000.00 | 10 494.18 | 0.02 |
| USD	VERIZON COMMUNICATIONS INC 3.37600% 18-15.02.25 | 26 000.00 | 28 978.64 | 0.07 |
| USD	VIRGINIA ELECTRIC & POWER CO 3.80000% 18-01.04.28 | 20 000.00 | 23 512.10 | 0.05 |
| USD	VISA INC 1.90000% 20-15.04.27 | 35 000.00 | 37 172.87 | 0.09 |
| USD	WELLS FARGO & CO 3.06900% 17-24.01.23 | 80 000.00 | 82 513.80 | 0.19 |
| USD	WESTPAC BANKING CORP 2.00000% 20-13.01.23 | 35 000.00 | 36 282.06 | 0.08 |
| USD	WILLIAMS COS INC/THE 4.30000% 14-04.03.24 | 35 000.00 | 38 274.63 | 0.09 |
| USD	WPP FINANCE 2010 3.75000% 14-19.09.24 | 30 000.00 | 32 932.42 | 0.08 |
| USD	XLIT LTD 5.25000% 13-15.12.43 | 25 000.00 | 34 317.65 | 0.08 |
| Total USD |  | 3 220 611.28 | 7.47 |
| Total Notes, fester Zins |  | 3 411 608.92 | 7.91 |
| Notes, variabler Zins |  |  |  |
| USD |  |  |  |
| USD	BK OF AMERICA CORP 3.004%/VAR 18-20.12.23 | 120 000.00 | 125 975.43 | 0.29 |
| USD	ELECTRICITE DE FRANCE SA-REG-S-SUB 5.625%/VAR 14-PRP | 185 000.00 | 193 787.50 | 0.45 |
| USD	NATWEST GROUP PLC 4.519%/VAR 18-25.06.24 | 200 000.00 | 215 565.24 | 0.50 |
| Total USD |  | 535 328.17 | 1.24 |
| Total Notes, variabler Zins |  | 535 328.17 | 1.24 |
| Medium-Term Notes, fester Zins |  |  |  |
| AUD |  |  |  |
| AUD	AURIZON NETWORK PTY LTD-REG-S 4.00000% 17-21.06.24 | 30 000.00 | 23 219.26 | 0.05 |
| AUD	BANCO SANTANDER SA 4.00000% 17-19.01.23 | 200 000.00 | 149 982.44 | 0.35 |
| Total AUD |  | 173 201.70 | 0.40 |

UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD)
Jahresbericht und geprüfter Jahresabschluss per 30. September 2020
|  | Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
| EUR |  |  |  |  |
| EUR | BANCO SANTANDER SA-REG-S-SUB 3.25000% 16-04.04.26 | 100 000.00 | 129 326.87 | 0.30 |
| EUR | BAT INTERNATIONAL FINANCE PLC-REG-S 0.87500% 15-13.10.23 | 100 000.00 | 119 383.51 | 0.28 |
| EUR | BNP PARIBAS-REG-S 1.00000% 18-17.04.24 | 100 000.00 | 120 643.87 | 0.28 |
| EUR | BPCE SA-REG-S 1.37500% 18-23.03.26 | 100 000.00 | 123 191.80 | 0.29 |
| EUR | CANAL DE ISABEL II GESTION SA-REG-S 1.68000% 15-26.02.25 | 100 000.00 | 124 393.63 | 0.29 |
| EUR | CREDIT AGRICOLE SA LONDON-REG-S 1.37500% 18-13.03.25 | 100 000.00 | 122 871.44 | 0.28 |
| EUR | DAIMLER AG-REG-S 2.00000% 20-22.08.26 | 25 000.00 | 31 717.25 | 0.07 |
| EUR | DEUTSCHE BANK AG-REG-S 1.62500% 19-12.02.21 | 100 000.00 | 117 841.24 | 0.27 |
| EUR | FORD MOTOR CREDIT CO LLC 3.02100% 19-06.03.24 | 100 000.00 | 114 773.12 | 0.27 |
| EUR | GALP GAS NATURAL DISTRIBUICAO SA-REG-S 1.37500% 16-19.09.23 | 100 000.00 | 120 248.23 | 0.28 |
| EUR | GLOBALWORTH REAL ESTATE INVEST-REG-S 3.00000% 18-29.03.25 | 100 000.00 | 117 851.33 | 0.27 |
| EUR | GOLDMAN SACHS GROUP INC-REG-S 1.62500% 16-27.07.26 | 50 000.00 | 62 443.26 | 0.14 |
| EUR | ING GROEP NV-REG-S 1.12500% 18-14.02.25 | 100 000.00 | 122 017.98 | 0.28 |
| EUR | NET4GAS SRO-REG-S 2.50000% 14-28.07.21 | 100 000.00 | 119 059.16 | 0.28 |
| EUR | PETROLEOS MEXICANOS-REG-S 3.75000% 17-21.02.24 | 100 000.00 | 110 705.49 | 0.26 |
| EUR | REDEXIS GAS FINANCE BV-REG-S 1.87500% 15-27.04.27 | 100 000.00 | 123 703.45 | 0.29 |
| Total EUR |  |  | 1 780 171.63 | 4.13 |
| GBP |  |  |  |  |
| GBP | ANGLIAN WATER SERVICES FINANCING-REG-S 4.50000% 13-22.02.26 | 100 000.00 | 142 590.41 | 0.33 |
| GBP | LLOYDS BANKING GROUP PLC 2.25000% 17-16.10.24 | 100 000.00 | 133 672.93 | 0.31 |
| GBP | PHOENIX GROUP HOLDINGS PLC-REG-S-SUB 4.12500% 17-20.07.22 | 100 000.00 | 134 089.28 | 0.31 |
| Total GBP |  |  | 410 352.62 | 0.95 |
| USD |  |  |  |  |
| USD | BANK OF AMERICA CORP 3.87500% 15-01.08.25 | 100 000.00 | 113 648.00 | 0.26 |
| USD | MORGAN STANLEY 4.00000% 15-23.07.25 | 110 000.00 | 124 327.52 | 0.29 |
| USD | MORGAN STANLEY-SUB 4.35000% 14-08.09.26 | 30 000.00 | 34 725.02 | 0.08 |
| USD | WALT DISNEY CO/THE 1.85000% 16-30.07.26 | 10 000.00 | 10 484.60 | 0.03 |
| USD | WELLS FARGO & CO 2.62500% 17-22.07.22 | 70 000.00 | 72 575.86 | 0.17 |
| Total USD |  |  | 355 761.00 | 0.83 |
| Total Medium-Term Notes, fester Zins |  | 2 719 486.95 | 6.31 |
| Medium-Term Notes, variabler Zins |  |  |  |
| EUR |  |  |  |
| EUR	AXA SA-REG-S-SUB 3.250%/VAR 18-28.05.49 | 100 000.00 | 131 231.26 | 0.30 |
| EUR	BARCLAYS PLC-REG-S-SUB 2.625%/VAR 15-11.11.25 | 140 000.00 | 164 286.58 | 0.38 |
| EUR	COMMONWEALTH BK OF AUSTRLIA-REG-S-SUB 1.936%/VAR 17-03.10.29 | 100 000.00 | 120 823.99 | 0.28 |
| EUR	IBERDROLA INTERNATIONAL BV-REG-S-SUB 2.625%/VAR 18-PRP | 100 000.00 | 121 510.19 | 0.28 |
| EUR	UBS AG-REG-S-SUB 4.750%/VAR 14-12.02.26 | 100 000.00 | 118 584.23 | 0.28 |
| Total EUR |  | 656 436.25 | 1.52 |
| GBP |  |  |  |
| GBP	BARCLAYS PLC-REG-S 2.375%/VAR 17-06.10.23 | 100 000.00 | 131 978.07 | 0.30 |
| GBP	CYBG PLC-REG-S 3.375%/VAR 18-24.04.26 | 100 000.00 | 129 538.82 | 0.30 |
| GBP	YORKSHIRE WATER SERVICES FIN-REG-S 3.750%/VAR 10-22.03.46 | 110 000.00 | 146 275.43 | 0.34 |
| Total GBP |  | 407 792.32 | 0.94 |
| USD |  |  |  |
| USD	DBS GROUP HOLDINGS LTD-REG-S-SUB 3.600%/VAR 16-PRP | 200 000.00 | 201 186.00 | 0.47 |
| Total USD |  | 201 186.00 | 0.47 |
| Total Medium-Term Notes, variabler Zins |  | 1 265 414.57 | 2.93 |
| Anleihen, fester Zins |  |  |  |
| AUD |  |  |  |
| AUD	AUSTRALIA-REG-S 2.25000% 16-21.05.28 | 610 000.00 | 490 247.61 | 1.14 |
| Total AUD |  | 490 247.61 | 1.14 |
| CAD |  |  |  |
| CAD	CANADA, GOVERNMENT 1.50000% 19-01.09.24 | 800 000.00 | 627 213.18 | 1.45 |
| Total CAD |  | 627 213.18 | 1.45 |
| EUR |  |  |  |
| EUR	ADO PROPERTIES SA-REG-S 1.50000% 17-26.07.24 | 100 000.00 | 112 191.41 | 0.26 |
| EUR	IRELAND, REPUBLIC OF-REG-S 1.00000% 16-15.05.26 | 560 000.00 | 711 313.55 | 1.65 |
| EUR	RESA SA/BELGIUM-REG-S 1.00000% 16-22.07.26 | 100 000.00 | 120 404.02 | 0.28 |
| EUR	SPAIN, KINGDOM OF-REG-S 1.60000% 15-30.04.25 | 200 000.00 | 254 952.40 | 0.59 |
| EUR	TAURON POLSKA ENERGIA SA-REG-S 2.37500% 17-05.07.27 | 100 000.00 | 118 804.10 | 0.27 |
| EUR	TDF INFRASTRUCTURE SAS 2.87500% 15-19.10.22 | 100 000.00 | 120 944.78 | 0.28 |
| EUR	TEVA PHARMACEUTICAL FINANCE II BV-REG-S 1.12500% 16-15.10.24 | 140 000.00 | 141 751.40 | 0.33 |
| EUR	TRANSPORT ET INFRASTRUCTURES GAZ-REG-S 2.20000% 15-05.08.25 | 100 000.00 | 127 091.81 | 0.29 |
| EUR	VOLKSWAGEN INTERNATIONAL FIN NV-REG-S 1.12500% 17-02.10.23 | 100 000.00 | 119 848.35 | 0.28 |
| EUR	VOLKSWAGEN INTERNATIONAL FIN NV-REG-S 4.12500% 18-16.11.38 | 100 000.00 | 157 686.24 | 0.37 |
| EUR	VVO-YHTYMA OYJ-REG-S 1.62500% 16-17.10.23 | 100 000.00 | 121 402.97 | 0.28 |
| Total EUR |  | 2 106 391.03 | 4.88 |
| GBP |  |  |  |
| GBP	BARCLAYS BANK PLC-SUB 9.50000% 96-07.08.21 | 55 000.00 | 75 938.22 | 0.18 |
| Total GBP |  | 75 938.22 | 0.18 |
| JPY |  |  |  |
| JPY	JAPAN 0.10000% 20-01.05.22 | 53 000 000.00 | 504 577.28 | 1.17 |
| JPY	JAPAN 0.40000% 15-20.03.25 | 80 000 000.00 | 775 968.92 | 1.80 |
| Total JPY |  | 1 280 546.20 | 2.97 |

UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD) Jahresbericht und geprüfter Jahresabschluss per 30. September 2020
|  | Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- | --- |
|  |  | Nominal | NR Kursgewinn | Netto- |
|  |  |  | (-verlust) auf Futures/ | vermögens |
|  |  |  | Devisentermin- |  |
|  |  |  | kontrakten/ |  |
|  |  |  | Swaps (Erl. 1) |  |
| USD |  |  |  |  |
| USD | AMERICAN AIRLINES PASS THROUGH TRUST 4.37500% 14-01.10.22 | 50 000.00 | 18 044.53 | 0.04 |
| USD | CITIGROUP INC 3.87500% 13-25.10.23 | 160 000.00 | 175 212.15 | 0.41 |
| USD | CNAC HK FINBRIDGE CO LTD-REG-S 4.62500% 18-14.03.23 | 200 000.00 | 211 750.00 | 0.49 |
| USD | MEXICO CITY AIRPORT TRUST-REG-S 5.50000% 17-31.07.47 | 200 000.00 | 162 554.00 | 0.38 |
| USD | MITSUBISHI UFJ FINANCIAL GROUP INC 2.66500% 17-25.07.22 | 40 000.00 | 41 427.20 | 0.10 |
| USD | NATL RURAL UTIL COOPERATIVE FIN CORP 3.70000% 19-15.03.29 | 25 000.00 | 29 352.67 | 0.07 |
| USD | PACIFICORP 2.70000% 20-15.09.30 | 10 000.00 | 10 964.91 | 0.02 |
| USD | REYNOLDS AMERICAN INC 4.45000% 15-12.06.25 | 40 000.00 | 45 013.53 | 0.10 |
| USD | SOUTHERN CALIFORNIA EDISON CO 3.70000% 18-01.08.25 | 25 000.00 | 27 711.72 | 0.06 |
| Total USD |  |  | 722 030.71 | 1.67 |
| Total Anleihen, fester Zins |  | 5 302 366.95 | 12.29 |
| Anleihen, Nullcoupon |  |  |  |
| EUR |  |  |  |
| EUR	FRANCE, REPUBLIC OF-OAT-REG-S 0.00000% 19-25.03.25 | 310 000.00 | 373 535.79 | 0.87 |
| EUR	GERMANY, REPUBLIC OF-REG-S 0.00000% 20-11.04.25 | 1 040 000.00 | 1 260 230.63 | 2.92 |
| Total EUR |  | 1 633 766.42 | 3.79 |
| Total Anleihen, Nullcoupon |  | 1 633 766.42 | 3.79 |
| Anleihen, variabler Zins |  |  |  |
| EUR |  |  |  |
| EUR	CREDIT LOGEMENT SA-SUB 4.60400%/3M EURIBOR+115BP 06-PRP | 100 000.00 | 98 976.35 | 0.23 |
| EUR	SWISS LIFE AG VIA DEMETER INV BV-SUB 4.375%/VAR 15-PRP | 100 000.00 | 130 219.85 | 0.30 |
| EUR	UNIBAIL-RODAMCO SE-REG-S-SUB 2.875%/VAR 18-PRP | 100 000.00 | 102 371.17 | 0.24 |
| EUR	VOLKSWAGEN INTL FINANCE NV-REG-S-SUB 3.375%/VAR 18-PRP | 100 000.00 | 118 057.65 | 0.27 |
| Total EUR |  | 449 625.02 | 1.04 |
| USD |  |  |  |
| USD	SCOR SE-REG-S-SUB 5.250%/VAR 18-PRP | 200 000.00 | 201 900.00 | 0.47 |
| USD	WESTPAC BANKING CORP-SUB 5.000%/VAR 17-PRP | 90 000.00 | 91 278.00 | 0.21 |
| Total USD |  | 293 178.00 | 0.68 |
| Total Anleihen, variabler Zins |  | 742 803.02 | 1.72 |
| Treasury-Notes, fester Zins |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 1.87500% 17-31.07.22 | 1 130 000.00 | 1 166 107.00 | 2.70 |
| USD	AMERICA, UNITED STATES OF 2.75000% 18-30.11.20 | 3 600 000.00 | 3 615 571.44 | 8.38 |
| USD	AMERICA, UNITED STATES OF 1.50000% 16-28.02.23 | 240 000.00 | 247 884.36 | 0.57 |
| USD	AMERICA, UNITED STATES OF 2.00000% 12-15.02.22 | 1 440 000.00 | 1 477 068.62 | 3.42 |
| USD	AMERICA, UNITED STATES OF 1.37500% 16-30.09.23 | 360 000.00 | 373 134.35 | 0.87 |
| USD	AMERICA, UNITED STATES OF TB 0.37500% 30.04.20-30.04.25 | 660 000.00 | 663 892.94 | 1.54 |
| USD	AMERICA, UNITED STATES OF 0.25000% 20-31.05.25 | 1 340 000.00 | 1 340 156.91 | 3.11 |
| Total USD |  | 8 883 815.62 | 20.59 |
| Total Treasury-Notes, fester Zins | 8 883 815.62 | 20.59 |
| Total Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden | 24 494 590.62 | 56.78 |
| Wertpapiere und Geldmarktinstrumente, die an einem anderen geregelten Markt gehandelt werden |  |  |
| Treasury-Bills, Nullcoupon |  |  |
| USD |  |  |
| USD	AMERICA, UNITED STATES OF TB 0.00000% 26.03.20-25.03.21	4 300 000.00 | 4 297 752.95 | 9.96 |
| USD	AMERICA, UNITED STATES OF TB 0.00000% 05.12.19-03.12.20	3 400 000.00 | 3 399 434.75 | 7.88 |
| Total USD | 7 697 187.70 | 17.84 |
| Total Treasury-Bills, Nullcoupon | 7 697 187.70 | 17.84 |
| Notes, fester Zins |  |  |
| CAD |  |  |
| CAD	ROYAL BANK OF CANADA 1.65000% 16-15.07.21	95 000.00 | 71 851.51 | 0.16 |
| CAD	TELUS CORP 3.75000% 14-17.01.25	15 000.00 | 12 338.12 | 0.03 |
| Total CAD | 84 189.63 | 0.19 |
| USD |  |  |
| USD	ABBVIE INC-144A 3.45000% 20-15.03.22	40 000.00 | 41 489.19 | 0.10 |
| USD	ABBVIE INC-144A 4.75000% 20-15.03.45	12 000.00 | 14 501.90 | 0.03 |
| USD	BRISTOL-MYERS SQUIBB CO 3.87500% 20-15.08.25	70 000.00 | 79 811.55 | 0.19 |
| USD	BROADCOM INC 3.15000% 20-15.11.25	35 000.00 | 37 909.50 | 0.09 |
| USD	CHEVRON PHILLIPS CHEMICAL CO LLC-144A 3.30000% 18-01.05.23	125 000.00 | 132 633.89 | 0.31 |
| USD	CITIGROUP INC-SUB 4.60000% 16-09.03.26	30 000.00 | 34 390.41 | 0.08 |
| USD	COSTCO WHOLESALE CORP 1.60000% 20-20.04.30	15 000.00 | 15 250.98 | 0.04 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 5.30000% 19-01.10.29	85 000.00 | 97 486.44 | 0.23 |
| USD	ENLINK MIDSTREAM PARTNERS LP 4.40000% 14-01.04.24	50 000.00 | 45 000.00 | 0.10 |
| USD	ERAC USA FINANCE LLC-144A 5.62500% 12-15.03.42	30 000.00 | 38 209.51 | 0.09 |
| USD	GLENCORE FUNDING LLC-144A 4.87500% 19-12.03.29	50 000.00 | 58 485.76 | 0.14 |
| USD	JPMORGAN CHASE & CO-SUB 3.62500% 16-01.12.27	75 000.00 | 83 984.60 | 0.19 |
| USD	KINDER MORGAN INC-144A 5.62500% 13-15.11.23	40 000.00 | 45 041.52 | 0.10 |
| USD	LIBERTY MUTUAL GROUP INC-144A 4.56900% 19-01.02.29	50 000.00 | 60 321.88 | 0.14 |
| USD	MPLX LP 4.25000% 20-01.12.27	20 000.00 | 22 415.87 | 0.05 |
| USD	NXP BV / NXP FDNG LLC / NXP USA-144A 2.70000% 20-01.05.25	5 000.00 | 5 296.81 | 0.01 |
| USD	ONCOR ELECTRIC DELIVERY CO 3.70000% 19-15.11.28	20 000.00 | 23 521.07 | 0.05 |
| USD	ORIGIN ENERGY FINANCE LTD-REG-S 5.45000% 11-14.10.21	40 000.00 | 41 751.20 | 0.10 |
| USD	OTIS WORLDWIDE CORP 2.56500% 20-15.02.30	50 000.00 | 53 736.54 | 0.12 |
| USD	PPL CAPITAL FUNDING INC 4.70000% 13-01.06.43	85 000.00 | 104 118.80 | 0.24 |

UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD)
Jahresbericht und geprüfter Jahresabschluss per 30. September 2020
|  | Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
|  |  |  |  |  |
| USD | SOUTHWESTERN ELECTRIC POWER 6.20000% 10-15.03.40 | 75 000.00 | 103 144.51 | 0.24 |
| USD | SWISS RE TREASURY (US) CORP-144A 4.25000% 12-06.12.42 | 40 000.00 | 49 494.84 | 0.11 |
| USD | TEVA PHARMACEUTICAL FINANCE IV LLC 3.65000% 11-10.11.21 | 20 000.00 | 19 931.25 | 0.05 |
| USD | UNITD AIRLNS 2016-1 CL B PAS THRUGH TRT 3.65000% 17-07.01.26 | 50 000.00 | 29 923.51 | 0.07 |
| USD | VIACOMCBS INC 4.75000% 20-15.05.25 | 95 000.00 | 109 144.81 | 0.25 |
| USD | XCEL ENERGY INC 4.80000% 11-15.09.41 | 120 000.00 | 150 189.46 | 0.35 |
| Total USD |  |  | 1 497 185.80 | 3.47 |
| Total Notes, fester Zins |  | 1 581 375.43 | 3.66 |
| Medium-Term Notes, fester Zins |  |  |  |
| AUD |  |  |  |
| AUD	AUSGRID FINANCE PTY LTD-REG-S 3.75000% 17-30.10.24 | 50 000.00 | 39 107.31 | 0.09 |
| Total AUD |  | 39 107.31 | 0.09 |
| CAD |  |  |  |
| CAD	SUNCOR ENERGY INC 3.00000% 16-14.09.26	40 000.00 | 31 847.87 | 0.08 |
| Total CAD | 31 847.87 | 0.08 |
| Total Medium-Term Notes, fester Zins | 70 955.18 | 0.17 |
| Anleihen, variabler Zins |  |  |  |
| JPY |  |  |  |
| JPY	JAPAN 0.100%/CPI LINKED 19-10.03.29 | 27 000 000.00 | 255 970.92 | 0.59 |
| Total JPY |  | 255 970.92 | 0.59 |
| NZD |  |  |  |
| NZD	NEW ZEALAND 3.000%/CPI LINKED 13-20.09.30 | 740 000.00 | 729 219.69 | 1.69 |
| Total NZD |  | 729 219.69 | 1.69 |
| Total Anleihen, variabler Zins |  | 985 190.61 | 2.28 |
| Total Wertpapiere und Geldmarktinstrumente, die an einem anderen geregelten Markt gehandelt werden |  | 10 334 708.92 | 23.95 |
| Neuemittierte Wertpapiere und Geldmarktinstrumente |  |  |  |
| Notes, fester Zins |  |  |  |
| USD |  |  |  |
| USD	CHEVRON PHILLIPS CHEMICAL CO LLC-144A 5.12500% 20-01.04.25 | 30 000.00 | 35 284.79 | 0.08 |
| USD	NXP BV / NXP FDNG LLC / NXP USA-144A 3.15000% 20-01.05.27 | 20 000.00 | 21 615.88 | 0.05 |
| Total USD |  | 56 900.67 | 0.13 |
| Total Notes, fester Zins |  | 56 900.67 | 0.13 |
| Total Neuemittierte Wertpapiere und Geldmarktinstrumente |  | 56 900.67 | 0.13 |

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 EDGE MSCI WORLD VALUE FACTOR-ETF-ACCUM | 30 716.00 | 825 338.92 | 1.91 |
| EUR | ISHARES VII PLC - ISHARES MSCI EMU SMALL CAP UCITS ETF-EUR | 3 742.00 | 860 322.32 | 2.00 |
| Total Irland | 1 685 661.24 | 3.91 |
| Total Investment Fonds, open end | 1 685 661.24 | 3.91 |
| Total OGAW/Andere OGA im Sinne des Artikels 41 (1) e) des abgeänderten luxemburgischen Gesetzes vom 17. Dezember 2010 | 1 685 661.24 | 3.91 |
| Total des Wertpapierbestandes | 36 571 861.45 | 84.77 |

| Derivative Instrumente |  |
| --- | --- |
| Derivative Instrumente, die an einer offiziellen Börse gehandelt werden Finanzterminkontrakte auf Anleihen |
|  |  |  |  |
| EUR	EURO-BUND FUTURE 08.12.20 | -5.00 | -2 579.83 | 0.00 |
| EUR	EURO-BUXL FUTURE 08.12.20 | -1.00 | -2 814.36 | -0.01 |
| GBP	LONG GILT FUTURE 29.12.20 | -6.00 | -2 327.04 | 0.00 |
| CAD	CAN 10YR BOND FUTURE 18.12.20 | 3.00 | -224.59 | 0.00 |
| USD	US 10YR ULTRA NOTE FUTURE 21.12.20 | -5.00 | -3 750.00 | -0.01 |
| USD	US 5YR TREASURY NOTE FUTURE 31.12.20 | 19.00 | 4 007.80 | 0.01 |
| USD	US 10YR TREASURY NOTE FUTURE 21.12.20 | -15.00 | 937.50 | 0.00 |
| USD	US 2YR TREASURY NOTE FUTURE 31.12.20 | 30.00 | 1 406.28 | 0.00 |
| USD	US ULTRA LONG BOND (CBT) FUTURE 21.12.20 | -2.00 | -562.50 | 0.00 |
| Total Finanzterminkontrakte auf Anleihen |  | -5 906.74 | -0.01 |

UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD) Jahresbericht und geprüfter Jahresabschluss per 30. September 2020
| Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |

Finanzterminkontrakte auf Indizes
| USD | MSCI WORLD NR INDEX FUTURE 18.12.20 | -12.00 | 2 760.00 | 0.01 |
| --- | --- | --- | --- | --- |
| EUR | EURO STOXX 50 INDEX FUTURE 18.12.20 | -29.00 | 40 978.25 | 0.10 |
| EUR | EURO STOXX BANKS PRICE INDEX FUTURE 18.12.20 | 223.00 | -89 694.83 | -0.21 |
| CHF | SWISS MARKET INDEX FUTURE 18.12.20 | 2.00 | -5 159.18 | -0.01 |
| GBP | FTSE 100 INDEX FUTURE 18.12.20 | 5.00 | -12 688.83 | -0.03 |
| EUR | FTSE/MIB INDEX FUTURE 18.12.20 | 7.00 | -33 244.63 | -0.08 |
| USD | S&P500 EMINI FUTURE 18.12.20 | 21.00 | 22 837.50 | 0.05 |
| AUD | SPI 200 INDEX FUTURES 17.12.20 | 2.00 | -3 404.56 | -0.01 |
| CAD | S&P/TSX 60 INDEX FUTURE 17.12.20 | 2.00 | -158.71 | 0.00 |
| USD | MINI MSCI EMERGING MARKETS INDEX FUTURE 18.12.20 | 65.00 | -34 820.00 | -0.08 |
| USD | RUSSELL 2000 E-MINI INDEX FUTURE 18.12.20 | -11.00 | -1 182.50 | 0.00 |
| JPY | TOPIX INDX FUTURE 10.12.20 | 3.00 | 6 396.29 | 0.01 |
| Total Finanzterminkontrakte auf Indizes | -107 381.20 | -0.25 |
| Total Derivative Instrumente, die an einer offiziellen Börse gehandelt werden | -113 287.94 | -0.26 |

Derivative Instrumente, die nicht an einer offiziellen Börse oder einem anderen geregelten Markt gehandelt werden
Credit-Default-Swaps*
| EUR | ICE/ITRX.XOVER.34-V1 CDI REC 5.00000% 20-20.12.25 | 520 000.00 | 44 480.19 | 0.10 |
| --- | --- | --- | --- | --- |
| USD | ICE/CDX.NA.HY.35-V1 CDI REC 5.00000% 20-20.12.25 | 1 500 000.00 | 63 544.33 | 0.15 |
| Total Credit-Default-Swaps | 108 024.52 | 0.25 |
| Total Derivative Instrumente, die nicht an einer offiziellen Börse oder einem anderen geregelten Markt gehandelt werden | 108 024.52 | 0.25 |
| Total Derivative Instrumente | -5 263.42 | -0.01 |
| Devisenterminkontrakte |  |  |
| Gekaufte Währung/ Gekaufter Betrag/Verkaufte Währung/Verkaufter Betrag/Fälligkeitsdatum |  |  |

| CLP | 519 600 000.00 | USD | 681 862.92 | 26.10.2020 | -22 222.77 | -0.05 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 639 032.82 | TWD | 18 500 000.00 | 26.10.2020 | -1 787.67 | 0.00 |
| MYR | 2 951 000.00 | USD | 712 888.03 | 26.10.2020 | -3 338.76 | -0.01 |
| USD | 637 127.38 | KRW | 747 000 000.00 | 26.10.2020 | -4 003.96 | -0.01 |
| COP | 9 852 991 000.00 | USD | 2 647 173.35 | 26.10.2020 | -93 922.13 | -0.22 |
| BRL | 13 850 000.00 | USD | 2 627 559.97 | 26.10.2020 | -171 532.16 | -0.40 |
| JPY | 251 700 000.00 | USD | 2 408 131.51 | 26.10.2020 | -22 441.97 | -0.05 |
| USD | 7 833 308.03 | EUR | 6 670 000.00 | 26.10.2020 | 8 076.07 | 0.02 |
| CHF | 17 879 300.00 | USD | 19 526 176.80 | 26.10.2020 | -53 255.24 | -0.12 |
| USD | 2 497 651.39 | THB | 78 430 000.00 | 26.10.2020 | 22 671.97 | 0.05 |
| ZAR | 21 830 000.00 | USD | 1 299 648.37 | 26.10.2020 | 5 516.91 | 0.01 |
| USD | 3 312 639.19 | NZD | 4 970 000.00 | 27.10.2020 | 27 461.62 | 0.06 |
| MXN | 41 850 000.00 | USD | 1 951 642.91 | 26.10.2020 | -61 007.85 | -0.14 |
| USD | 3 482 877.92 | CAD | 4 635 000.00 | 26.10.2020 | 12 661.39 | 0.03 |
| NOK | 47 770 000.00 | USD | 5 123 013.45 | 26.10.2020 | -17 415.16 | -0.04 |
| PLN | 2 425 000.00 | USD | 631 745.84 | 26.10.2020 | -4 511.09 | -0.01 |
| USD | 2 782 283.93 | GBP | 2 175 000.00 | 26.10.2020 | -29 884.20 | -0.07 |
| SEK | 23 260 000.00 | USD | 2 625 331.95 | 26.10.2020 | -25 843.63 | -0.06 |
| USD | 3 296 048.52 | AUD | 4 570 000.00 | 26.10.2020 | 20 358.96 | 0.05 |
| USD | 3 991 495.00 | CHF | 3 655 000.00 | 26.10.2020 | 10 716.77 | 0.03 |
| EUR | 1 806 800.00 | USD | 2 122 290.77 | 26.10.2020 | -2 556.27 | -0.01 |
| USD | 658 780.38 | AUD | 925 000.00 | 26.10.2020 | -4 242.12 | -0.01 |
| USD | 327 473.29 | TWD | 9 500 000.00 | 26.10.2020 | -1 596.69 | 0.00 |
| USD | 322 209.44 | KRW | 378 000 000.00 | 26.10.2020 | -2 218.47 | -0.01 |
| AUD | 920 000.00 | USD | 648 356.20 | 26.10.2020 | 11 082.40 | 0.03 |
| USD | 646 460.70 | HUF | 202 050 000.00 | 26.10.2020 | -5 702.05 | -0.01 |
| RUB | 50 509 600.00 | USD | 639 422.73 | 26.10.2020 | 10 082.23 | 0.02 |
| USD | 392 049.46 | CHF | 363 300.00 | 26.10.2020 | -3 632.27 | -0.01 |
| USD | 19 104.58 | EUR | 16 300.00 | 26.10.2020 | -18.55 | 0.00 |
| Total Devisenterminkontrakte | -402 504.69 | -0.93 |
|  |  |  |
| Bankguthaben, Sicht- und Fristgelder und andere liquide Mittel | 7 853 627.01 | 18.20 |
| Kontokorrentkredit und andere kurzfristige Verbindlichkeiten | -974 311.26 | -2.26 |
| Andere Aktiva und Passiva | 96 751.69 | 0.23 |
| Total des Nettovermögens | 43 140 160.78 | 100.00 |
| * Nominal positiv: der Subfonds ist «Receiver of protection», Nominal negativ: der Subfonds ist «Seller of protection». |  |  |

UBS (Lux) Key Selection SICAV – Dynamic Alpha (USD)
Jahresbericht und geprüfter Jahresabschluss per 30. September 2020