Società d’Investimento a Capitale Variabile a Comparti ...€¦ · New York, NY 10017 USA...

UBI SICAV Società d’Investimento a Capitale Variabile a Comparti Multipli

(SICAV di diritto Lussemburghese)

Relazione Semestrale Non Certificata al 30 giugno 2017 11-13, Boulevard de la Foire

L-1528 Luxembourg

R.C.S. Luxembourg B-36503

Le sottoscrizioni non potranno essere effettuate sulla base dei rapporti finanziari, ma soltanto sulla base dell’ultimo prospetto informativo accompagnato

dall’ultima relazione annuale disponibile e dall’ultima relazione semestrale, se posteriore alla relazione annuale.

UBI SICAV

Indice Page

Gestione e Amministrazione 6

Prospetto del Patrimonio Netto 8

Prospetto delle Operationi e delle Variazioni del Patrimonio Netto 19

Variazioni nel Numero di Azioni 30

Dati Statistici 60

UBI SICAV - Euro Fixed Income

Prospetto degli investimenti 75

Ripartizione Economica e Geografica degli Investimenti 77

UBI SICAV - Euro Equity



UBI SICAV - USA Equity



UBI SICAV - Asia Pacific Equity



UBI SICAV - Emerging Markets Equity



UBI SICAV - Global Equity



UBI SICAV - Euro Corporate Bond



UBI SICAV - High Yield Bond



UBI SICAV - Short Term EUR



UBI SICAV - Euro Liquidity Plus



UBI SICAV - Active Beta



UBI SICAV - Global Corporate Bond



3

UBI SICAV

Indice (segue) UBI SICAV - Euro Corporate Short Term



UBI SICAV - Euro Equity High Dividend



UBI SICAV - Emerging Markets Bond



UBI SICAV - Global Dynamic Allocation



UBI SICAV - Cedola Certa 2012-2015 (1)



UBI SICAV - Beta Neutral



UBI SICAV - Long/Short Euro



UBI SICAV - Cedola Certa 2013-2016



UBI SICAV - Protezione e Crescita 2017






UBI SICAV - Focus Italia



UBI SICAV - Cedola Mercati Emergenti



UBI SICAV - Protezione Mercati Emergenti



UBI SICAV - Multiasset Europe 50



UBI SICAV - Global High Yield Euro Hedged


Ripartizione Economica e Geografica degli Investimenti 182 (1) Cfr. Nota 17.

4

UBI SICAV

Indice (segue) UBI SICAV - Global Multiasset 30



UBI SICAV - Italian Equity



UBI SICAV - Income Opportunities



UBI SICAV - European Equity



UBI SICAV - Global Stars



UBI SICAV - Social 4 Future



UBI SICAV - Global Multiasset 15



UBI SICAV - Euro Corporate Bond High Potential



UBI SICAV - Obiettivo Stabilità



UBI SICAV - Obiettivo Controllo



UBI SICAV - Globo (Global Bond)



UBI SICAV - US Core Equity



UBI SICAV - Global Inflation Linked (1)



UBI SICAV - Strategic Bond (1)



UBI SICAV - Euro High Yield (1)



UBI SICAV - Italian Mid Cap Equity (1)



Nota Integrativa 252

Appendice Non Certificata 312 (1) Cfr. Nota 17.

5

UBI SICAV

Gestione e Amministrazione Consiglio di Amministrazione della SICAV: Sede Legale: Presidente: 11-13 Boulevard de la Foire

L-1528 Luxembourg Sig. Sergio Paci R.C.S. Luxembourg B-36503 Presidente del Consiglio UBI Pramerica SGR S.p.A. Distributori: 5, Monte di Pietà I-20121 Milano UBI Banca International S.A.

37/A, Avenue J.F. Kennedy Consiglieri: L-1855 Luxembourg Sig. Andrea Ghidoni UBI Pramerica SGR S.p.A. Amministratore Delegato e Direttore Generale Sede Legale: piazza Vittorio Veneto, 8, I-24122 Bergamo; UBI Pramerica SGR S.p.A. Sede Amministrativa: 5, Monte di Pietà, I-20121 Milano 5, Monte di Pietà I-20121 Milano Gestori: Sig. Marco Passafiume Alfieri UBI Pramerica SGR S.p.A. Vice Direttore Generale e Direttore Commerciale Sede Legale: piazza Vittorio Veneto, 8, I-24122 Bergamo; UBI Pramerica SGR S.p.A. Sede Amministrativa: 5, Monte di Pietà, I-20121 Milano 5, Via Monte di Pietà I-20121 Milan per tutti i comparti ad eccezione di quelli sotto riportati. Società di Gestione: Prudential International Investments Advisers, LLC

655, Broad Street UBI Management Company S.A. Newark, NJ 07102 USA 37/A, Avenue J.F. Kennedy L-1855 Luxembourg per i seguenti comparti:

UBI SICAV - High Yield Bond Società di Revisione: UBI SICAV - Cedola Mercati Emergenti Deloitte Audit Sub-Gestori/Sub-sub Gestori: Società a responsabilità limitata 560, rue de Neudorf Prudential International Investments Advisers, LLC L-2220 Luxembourg 655, Broad Street

Newark, NJ 07102 USA Consulenti Legali:

per i seguenti comparti: - di diritto islandese: UBI SICAV - USA Equity Lex Law Offices UBI SICAV - Asia Pacific Equity Borgartuni 26, UBI SICAV - Emerging Markets Equity 105 Reykjavik UBI SICAV - Global Equity

UBI SICAV - Global Corporate Bond - di diritto lussemburghese: UBI SICAV - Emerging Markets Bond Bonn & Schmitt UBI SICAV - Global High Yield Euro Hedged 148, Avenue de la Faïencerie UBI SICAV - Globo (Global Bond) L-1511 Luxembourg UBI SICAV - US Core Equity - di diritto italiano: Quantitative Management Associates LLC (QMA) Galante e Associati Studio Legale Gateway Center 2 via del Banco di S. Spirito, 42 McCarter Highway & Market Street I-00186 Roma Newark, NJ 07102 USA

PGIM, Inc. Prudential Plaza Newark, NJ 07101 USA

6

UBI SICAV

Gestione e Amministrazione (segue) Sub-Gestori/Sub-sub Gestori: (segue) Jennison Associates LLC 466 Lexington Avenue New York, NY 10017 USA Pramerica Investment Management Limited Grand Buildings, 1-3 Strand, Trafalgar Square London WC2N 5HR UK Banca Depositaria: RBC Investor Services Bank S.A. 14, Porte de France L-4360 Esch-sur-Alzette Agente Amministrativo, Conservatore dei Registri e Agente di Trasferimento: RBC Investor Services Bank S.A. 14, Porte de France L-4360 Esch-sur-Alzette

7

UBI SICAV

Prospetto del Patrimonio Netto al 30 giugno 2017

UBI SICAV - Euro UBI SICAV - Euro UBI SICAV - USA UBI SICAV - Asia

Fixed Income Equity Equity Pacific Equity

Note EUR EUR EUR EUR

ATTIVO Portafoglio titoli al valore di mercato (2) 115,550,542.70 595,155,184.82 345,288,065.73 305,623,437.25 Contratti di opzioni (acquistate) al valore di mercato (2)(11) 91,553.41 - - - Valore di mercato delle swaption (13)(2) - - - - Liquidità bancarie a vista e intermediari (2) 1,153,612.17 13,686,345.79 591,083.53 2,949,195.89 Crediti da vendite titoli 2,326,965.74 - 5,480,122.67 - Crediti da sottoscrizioni 92,919.52 155,579.86 9,054.28 122,890.08 Crediti da swap - - - - Interessi e dividendi attivi 390,564.79 236,714.39 229,144.28 1,289,136.39 Interessi attivi da contratti per differenze - - - - Interessi attivi da swap - - - - Interessi attivi da swaption - - - - Commissioni di avviamento capitalizzate (2) - - - - Commissioni collocamento capitalizzate 284,010.57 290,955.84 248,701.58 146,540.39 Crediti da acquisto valute - - 184,688.28 - Utile netto non realizzato da operazioni di cambio a termine (10)(2) - 129,769.40 - - Utile netto non realizzato da contratti futures (8)(2) 255,291.77 - - 19,950.27 Utile netto non realizzato da contratti per differenze (12)(2) - - - - Utile netto non realizzato da contratti di swap (14)(2) - - - - Altre attività 58,211.81 637,617.92 2,715.41 195.10

TOTALE DELL’ATTIVO 120,203,672.48 610,292,168.02 352,033,575.76 310,151,345.37 PASSIVO Debiti verso banche e importi dovuti agli intermediari - - 1,239.23 - Contratti di opzioni (scritte) al valore di mercato (2)(11) 15,600.00 - - - Debiti da acquisto titoli 96,300.00 7,153,279.88 4,471,936.50 - Debiti da rimborsi 2,024,242.45 225,312.97 192,572.87 29,715.50 Perdita netta non realizzata da operazioni di cambio a termine (10)(2) - - - - Perdita netta non realizzata da contratti futures (8)(2) - - - - Perdita netta non realizzata da contratti per differenze (12)(2) - - - - Perdita netta non realizzata da contratti di swap (14)(2) - - - - Commissioni di gestione e distribuzione passive (3) 67,727.95 125,972.06 68,728.06 87,572.67 Commissioni di performance passive (4) - 26,417.90 - 695,530.62 Imposta sui redditi di capitale non realizzata da acq. titoli (2) - - - 49,813.42 Imposte ed oneri 16,710.91 52,416.89 47,861.00 56,262.15 Interessi passivi da contratti per differenze (2) - - - - Interessi passivi da swap - - - - Debiti da vendita valute - - 184,743.53 - Altre passività - 21,311.66 - -

TOTALE DEL PASSIVO 2,220,581.31 7,604,711.36 4,967,081.19 918,894.36

TOTALE DEL PATRIMONIO NETTO 117,983,091.17 602,687,456.66 347,066,494.57 309,232,451.01

Valore netto per azione Classe 1 - - - - Classe 2 - - - - Classe A - - - - Classe B - - - - Classe C 4.969 - - - Classe D - 6.393 7.393 6.248 Classe F - 6.152 5.423 5.957 Classe I 11.723 7.333 10.534 8.013 Classe M - 5.906 6.058 6.226 Classe R 11.042 6.209 9.635 6.893 Classe U 4.978 5.739 5.829 6.092

Numero di azioni in circolazione Classe 1 - - - - Classe 2 - - - - Classe A - - - - Classe B - - - - Classe C 276,240.897 - - - Classe D - 126,359.781 52,988.238 42,120.406 Classe F - 104,489.124 143,899.033 101,392.595 Classe I 8,485,566.862 9,634,898.600 733,953.435 6,327,950.764 Classe M - 87,039,506.604 52,640,660.704 39,705,529.540 Classe R 340,299.654 795,499.909 958,267.379 695,072.248 Classe U 2,686,777.922 2,026,285.674 1,723,111.475 929,437.808

Le note allegate formano parte integrante del rendiconto finanziario.

8

UBI SICAV

Prospetto del Patrimonio Netto al 30 giugno 2017 (segue)

UBI SICAV - UBI SICAV - UBI SICAV - Euro UBI SICAV - High

Emerging Markets Global Equity Corporate Bond Yield Bond

Equity


ATTIVO Portafoglio titoli al valore di mercato (2) 502,484,269.74 509,107,423.82 230,261,274.30 875,719,668.95 Contratti di opzioni (acquistate) al valore di mercato (2)(11) - - - - Valore di mercato delle swaption (13)(2) - - - - Liquidità bancarie a vista e intermediari (2) 7,956,092.26 4,450,875.05 2,353,992.06 7,236,340.80 Crediti da vendite titoli - - 4,806,384.26 6,843,604.96 Crediti da sottoscrizioni 870,893.34 166,382.42 590,125.00 76,111.85 Crediti da swap - - - - Interessi e dividendi attivi 1,945,118.04 799,591.86 1,739,048.81 14,495,324.19 Interessi attivi da contratti per differenze - - - - Interessi attivi da swap - - - - Interessi attivi da swaption - - - - Commissioni di avviamento capitalizzate (2) - - - 2,969,754.06 Commissioni collocamento capitalizzate 211,004.46 484,924.28 1,275,617.68 613,934.66 Crediti da acquisto valute - - - - Utile netto non realizzato da operazioni di cambio a termine (10)(2) 1,836.65 - - 10,389,958.42 Utile netto non realizzato da contratti futures (8)(2) 41,421.93 - 206,400.00 734,715.68 Utile netto non realizzato da contratti per differenze (12)(2) - - - - Utile netto non realizzato da contratti di swap (14)(2) - - - - Altre attività - 101,485.62 35,537.06 15,185.77

TOTALE DELL’ATTIVO 513,510,636.42 515,110,683.05 241,268,379.17 919,094,599.34 PASSIVO Debiti verso banche e importi dovuti agli intermediari 1.59 124.26 32,798.64 - Contratti di opzioni (scritte) al valore di mercato (2)(11) - - - - Debiti da acquisto titoli 1,987,589.73 - 945,577.01 9,194,978.05 Debiti da rimborsi 89,306.75 38,479.73 2,560,059.85 3,229,696.43 Perdita netta non realizzata da operazioni di cambio a termine (10)(2) - - 9,240.40 - Perdita netta non realizzata da contratti futures (8)(2) - 11,352.68 - - Perdita netta non realizzata da contratti per differenze (12)(2) - - - - Perdita netta non realizzata da contratti di swap (14)(2) - - - - Commissioni di gestione e distribuzione passive (3) 178,553.81 152,705.76 183,029.19 1,188,834.88 Commissioni di performance passive (4) 1,738,476.28 1,187,355.63 13,309.02 102,127.55 Imposta sui redditi di capitale non realizzata da acq. titoli (2) 126,208.78 - - - Imposte ed oneri 100,537.48 71,066.40 36,249.15 227,185.00 Interessi passivi da contratti per differenze (2) - - - - Interessi passivi da swap - - - - Debiti da vendita valute - - - - Altre passività 5,404.46 4,417.04 17,417.31 190,258.97

TOTALE DEL PASSIVO 4,226,078.88 1,465,501.50 3,797,680.57 14,133,080.88


Valore netto per azione Classe 1 - - - - Classe 2 - - - - Classe A - - - 5.042 Classe B - - - - Classe C - 5.078 5.012 5.420 Classe D 5.736 7.162 5.311 5.664 Classe F 6.188 5.686 5.015 5.471 Classe I 6.978 9.532 7.984 11.382 Classe M 6.270 6.005 - - Classe R 6.061 8.292 7.350 10.501 Classe U 6.396 5.869 5.072 5.557

Numero di azioni in circolazione Classe 1 - - - - Classe 2 - - - - Classe A - - - 147,281,420.963 Classe B - - - - Classe C - 252,595.996 684,249.926 588,886.530 Classe D 44,433.284 235,415.864 267,919.057 472,674.933 Classe F 102,412.533 270,100.227 1,327,874.560 1,344,197.903 Classe I 17,814,322.542 7,096,108.536 21,462,678.179 9,388,132.642 Classe M 58,892,803.888 69,444,268.234 - - Classe R 981,745.590 586,773.844 472,981.381 2,476,615.111 Classe U 1,390,383.038 3,339,265.042 10,081,713.853 2,920,207.094


9

UBI SICAV


UBI SICAV - Short UBI SICAV - Euro UBI SICAV - UBI SICAV -

Term EUR Liquidity Plus Active Beta Global Corporate

Bond


ATTIVO Portafoglio titoli al valore di mercato (2) 93,491,463.33 180,363,848.77 33,086,921.60 146,137,112.57 Contratti di opzioni (acquistate) al valore di mercato (2)(11) 16,076.80 - - - Valore di mercato delle swaption (13)(2) - - - - Liquidità bancarie a vista e intermediari (2) 12,862,170.48 23,388,691.01 2,622,342.69 2,814,141.78 Crediti da vendite titoli 1,513,070.40 - - 205,343.21 Crediti da sottoscrizioni 386,677.34 550,161.19 2,401.21 66,112.92 Crediti da swap - - - - Interessi e dividendi attivi 731,975.38 1,055,613.07 356,028.92 1,339,221.23 Interessi attivi da contratti per differenze - - - - Interessi attivi da swap - - - - Interessi attivi da swaption - - - - Commissioni di avviamento capitalizzate (2) - - - - Commissioni collocamento capitalizzate - - - 2,860,968.78 Crediti da acquisto valute - - - - Utile netto non realizzato da operazioni di cambio a termine (10)(2) - - 3,993.78 1,638,943.12 Utile netto non realizzato da contratti futures (8)(2) - - - - Utile netto non realizzato da contratti per differenze (12)(2) - - - - Utile netto non realizzato da contratti di swap (14)(2) - - - - Altre attività - - 1,300.77 30,373.48

TOTALE DELL’ATTIVO 109,001,433.73 205,358,314.04 36,072,988.97 155,092,217.09 PASSIVO Debiti verso banche e importi dovuti agli intermediari - - - - Contratti di opzioni (scritte) al valore di mercato (2)(11) - - - - Debiti da acquisto titoli 1,516,985.00 - - 1,380,555.43 Debiti da rimborsi - 284,612.50 24,159.34 415,526.09 Perdita netta non realizzata da operazioni di cambio a termine (10)(2) - - - - Perdita netta non realizzata da contratti futures (8)(2) 54,950.00 88,960.00 123,001.99 19,552.22 Perdita netta non realizzata da contratti per differenze (12)(2) - - - - Perdita netta non realizzata da contratti di swap (14)(2) - - - - Commissioni di gestione e distribuzione passive (3) 48,840.12 75,016.33 18,244.62 162,599.38 Commissioni di performance passive (4) - - 33,950.47 57.92 Imposta sui redditi di capitale non realizzata da acq. titoli (2) - - - - Imposte ed oneri 13,517.92 21,939.97 13,930.21 29,401.91 Interessi passivi da contratti per differenze (2) - - - - Interessi passivi da swap - - - - Debiti da vendita valute - - - - Altre passività - - - -

TOTALE DEL PASSIVO 1,634,293.04 470,528.80 213,286.63 2,007,692.95


Valore netto per azione Classe 1 - - - - Classe 2 - - - - Classe A - - - - Classe B - - - - Classe C - - - 5.148 Classe D - - - 5.262 Classe F - - - 4.994 Classe I 3.766 5.153 5.445 6.412 Classe M - - - - Classe R 3.679 4.966 - 6.128 Classe U - - - 5.051

Numero di azioni in circolazione Classe 1 - - - - Classe 2 - - - - Classe A - - - - Classe B - - - - Classe C - - - 874,084.461 Classe D - - - 258,489.169 Classe F - - - 1,535,208.195 Classe I 27,503,618.671 38,910,308.829 6,586,132.057 969,765.547 Classe M - - - - Classe R 1,028,842.644 882,237.492 - 1,064,514.691 Classe U - - - 25,109,694.538


10

UBI SICAV


UBI SICAV - Euro UBI SICAV - Euro UBI SICAV - UBI SICAV -

Corporate Short Equity High Emerging Markets Global Dynamic

Term Dividend Bond Allocation


ATTIVO Portafoglio titoli al valore di mercato (2) 1,056,539,752.38 75,392,415.03 49,376,330.33 775,205,441.19 Contratti di opzioni (acquistate) al valore di mercato (2)(11) - - - - Valore di mercato delle swaption (13)(2) - - - - Liquidità bancarie a vista e intermediari (2) 3,847,444.32 4,601,193.44 412,891.26 40,316,190.95 Crediti da vendite titoli 11,131,674.55 - 850,907.98 8,482,910.10 Crediti da sottoscrizioni 3,299,751.20 63,370.99 584,077.11 364,938.68 Crediti da swap - - - - Interessi e dividendi attivi 13,147,320.16 26,585.62 1,023,702.65 1,317,563.43 Interessi attivi da contratti per differenze - - - 167,627.20 Interessi attivi da swap - - - - Interessi attivi da swaption - - - - Commissioni di avviamento capitalizzate (2) - - - 3,233,501.86 Commissioni collocamento capitalizzate - 431,721.60 330,954.34 961,932.63 Crediti da acquisto valute - - 249,142.32 - Utile netto non realizzato da operazioni di cambio a termine (10)(2) - - 159,604.31 885,749.20 Utile netto non realizzato da contratti futures (8)(2) 469,500.00 - - - Utile netto non realizzato da contratti per differenze (12)(2) - - - - Utile netto non realizzato da contratti di swap (14)(2) - - - - Altre attività - 75,225.39 - 69,756.87

TOTALE DELL’ATTIVO 1,088,435,442.61 80,590,512.07 52,987,610.30 831,005,612.11 PASSIVO Debiti verso banche e importi dovuti agli intermediari - - 103.28 - Contratti di opzioni (scritte) al valore di mercato (2)(11) - - - - Debiti da acquisto titoli - - 1,040,753.56 16,580,504.25 Debiti da rimborsi 7,523,024.01 185,177.99 7,385.67 919,790.65 Perdita netta non realizzata da operazioni di cambio a termine (10)(2) - 17,751.61 - - Perdita netta non realizzata da contratti futures (8)(2) - - - 1,869,651.74 Perdita netta non realizzata da contratti per differenze (12)(2) - - - 5,073,511.72 Perdita netta non realizzata da contratti di swap (14)(2) - - - 228,990.88 Commissioni di gestione e distribuzione passive (3) 648,825.06 197,186.28 87,456.24 1,566,406.58 Commissioni di performance passive (4) - 215,388.14 23,842.97 1,031,263.91 Imposta sui redditi di capitale non realizzata da acq. titoli (2) - - - - Imposte ed oneri 143,717.21 15,971.72 36,521.47 195,385.20 Interessi passivi da contratti per differenze (2) - - - - Interessi passivi da swap - - - - Debiti da vendita valute - - 249,121.92 - Altre passività - 10,164.71 7,814.97 26,363.76

TOTALE DEL PASSIVO 8,315,566.28 641,640.45 1,453,000.08 27,491,868.69

TOTALE DEL PATRIMONIO NETTO 1,080,119,876.33 79,948,871.62 51,534,610.22 803,513,743.42

Valore netto per azione Classe 1 - - - - Classe 2 - - - - Classe A - - - 5.144 Classe B - - - 5.144 Classe C - 4.874 5.225 4.859 Classe D 4.967 5.779 4.605 5.447 Classe F - 5.813 5.312 5.300 Classe I 5.840 7.191 5.763 6.842 Classe M - - - - Classe R 5.525 6.059 5.378 6.274 Classe U - 5.468 5.369 5.442

Numero di azioni in circolazione Classe 1 - - - - Classe 2 - - - - Classe A - - - 31,652,718.469 Classe B - - - 85,245,540.168 Classe C - 415,323.862 336,734.268 1,006,984.729 Classe D 173,067.118 129,245.653 182,480.419 3,617,926.865 Classe F - 222,997.021 501,284.477 1,205,444.970 Classe I 155,140,627.009 3,313,713.543 3,058,679.291 1,495,261.808 Classe M - - - - Classe R 31,345,075.670 5,562,816.522 3,389,166.880 20,637,288.268 Classe U - 3,355,313.621 1,940,759.340 5,785,377.610


11

UBI SICAV


UBI SICAV - UBI SICAV - Beta UBI SICAV - Long/ UBI SICAV -

Cedola Certa Neutral Short Euro Cedola Certa

2012-2015 (1) 2013-2016


ATTIVO Portafoglio titoli al valore di mercato (2) 11,046,435.85 21,950,204.17 38,488,819.15 62,246,826.48 Contratti di opzioni (acquistate) al valore di mercato (2)(11) - - - - Valore di mercato delle swaption (13)(2) - - - - Liquidità bancarie a vista e intermediari (2) 1,192,141.96 1,149,123.08 1,028,177.88 8,533,629.72 Crediti da vendite titoli - - - - Crediti da sottoscrizioni - 1,001.03 599.54 - Crediti da swap - - - - Interessi e dividendi attivi 14,333.34 43,528.98 20,745.14 86,260.91 Interessi attivi da contratti per differenze - 156.10 - - Interessi attivi da swap - - - - Interessi attivi da swaption - - - - Commissioni di avviamento capitalizzate (2) - - - - Commissioni collocamento capitalizzate - - 369,106.18 - Crediti da acquisto valute - - - - Utile netto non realizzato da operazioni di cambio a termine (10)(2) - - 7,676.10 - Utile netto non realizzato da contratti futures (8)(2) - - 1,083,440.00 - Utile netto non realizzato da contratti per differenze (12)(2) - 399.49 - - Utile netto non realizzato da contratti di swap (14)(2) - 605,124.61 - - Altre attività - 141,834.18 50,171.02 -

TOTALE DELL’ATTIVO 12,252,911.15 23,891,371.64 41,048,735.01 70,866,717.11 PASSIVO Debiti verso banche e importi dovuti agli intermediari - - - - Contratti di opzioni (scritte) al valore di mercato (2)(11) - - - - Debiti da acquisto titoli - - - - Debiti da rimborsi 77,010.26 9,871.16 23,535.49 1,179,989.87 Perdita netta non realizzata da operazioni di cambio a termine (10)(2) - - - - Perdita netta non realizzata da contratti futures (8)(2) - - - - Perdita netta non realizzata da contratti per differenze (12)(2) - - - - Perdita netta non realizzata da contratti di swap (14)(2) - - - - Commissioni di gestione e distribuzione passive (3) 14,170.87 16,052.29 66,616.31 85,119.07 Commissioni di performance passive (4) - - - - Imposta sui redditi di capitale non realizzata da acq. titoli (2) - - - - Imposte ed oneri 6,804.18 29,203.95 6,884.19 29,318.71 Interessi passivi da contratti per differenze (2) - 1,503.14 - - Interessi passivi da swap - - - - Debiti da vendita valute - - - - Altre passività - 107,239.33 - -

TOTALE DEL PASSIVO 97,985.31 163,869.87 97,035.99 1,294,427.65


Valore netto per azione Classe 1 - - - - Classe 2 - - - - Classe A - - - - Classe B - - - - Classe C - - - - Classe D - - 4.753 - Classe F - - 4.785 - Classe I - 4.630 5.189 - Classe M - - - - Classe R 5.258 - 4.703 5.201 Classe U - - 4.744 -

Numero di azioni in circolazione Classe 1 - - - - Classe 2 - - - - Classe A - - - - Classe B - - - - Classe C - - - - Classe D - - 7,309.337 - Classe F - - 646,489.671 - Classe I - 5,124,354.821 4,758,435.545 - Classe M - - - - Classe R 2,311,507.309 - 115,081.809 13,377,545.300 Classe U - - 2,654,011.621 - (1) Cfr. Nota 17.


12

UBI SICAV


UBI SICAV - UBI SICAV - UBI SICAV - Focus UBI SICAV -

Protezione e Cedola Certa Italia Cedola Mercati

Crescita 2017 2013-2017 Emergenti


ATTIVO Portafoglio titoli al valore di mercato (2) 11,043,196.03 243,621,758.03 25,454,083.47 270,778,492.88 Contratti di opzioni (acquistate) al valore di mercato (2)(11) - - - - Valore di mercato delle swaption (13)(2) 6,665,797.24 - - - Liquidità bancarie a vista e intermediari (2) 3,932,917.24 4,628,948.73 438,612.01 2,693,398.33 Crediti da vendite titoli 49,276.76 - - 4,995,179.85 Crediti da sottoscrizioni - - - - Crediti da swap - - - - Interessi e dividendi attivi 91,115.13 4,717,949.47 129,875.60 5,528,425.64 Interessi attivi da contratti per differenze - - - - Interessi attivi da swap - - - - Interessi attivi da swaption 64,857.15 - - - Commissioni di avviamento capitalizzate (2) - 1,375,481.40 - 97,894.33 Commissioni collocamento capitalizzate - - - - Crediti da acquisto valute - - - 1,389,640.80 Utile netto non realizzato da operazioni di cambio a termine (10)(2) - - - 1,017,263.95 Utile netto non realizzato da contratti futures (8)(2) - - - - Utile netto non realizzato da contratti per differenze (12)(2) - - - - Utile netto non realizzato da contratti di swap (14)(2) - - - - Altre attività - - 793.76 4,609.62

TOTALE DELL’ATTIVO 21,847,159.55 254,344,137.63 26,023,364.84 286,504,905.40 PASSIVO Debiti verso banche e importi dovuti agli intermediari - - - 632.54 Contratti di opzioni (scritte) al valore di mercato (2)(11) - - - - Debiti da acquisto titoli - - - 3,385,548.84 Debiti da rimborsi - 988,882.63 104,606.90 386,609.01 Perdita netta non realizzata da operazioni di cambio a termine (10)(2) - - - - Perdita netta non realizzata da contratti futures (8)(2) - - - - Perdita netta non realizzata da contratti per differenze (12)(2) - - - - Perdita netta non realizzata da contratti di swap (14)(2) - - - - Commissioni di gestione e distribuzione passive (3) 24,532.21 229,468.22 39,704.19 340,644.17 Commissioni di performance passive (4) - - - - Imposta sui redditi di capitale non realizzata da acq. titoli (2) - - - - Imposte ed oneri 9,313.69 73,343.93 8,654.35 132,178.12 Interessi passivi da contratti per differenze (2) - - - - Interessi passivi da swap - - - - Debiti da vendita valute - - - 1,389,526.98 Altre passività - - - -

TOTALE DEL PASSIVO 33,845.90 1,291,694.78 152,965.44 5,635,139.66


Valore netto per azione Classe 1 - - - - Classe 2 - - - - Classe A - - - - Classe B - - - - Classe C - - - - Classe D - - - - Classe F - - - - Classe I - - - - Classe M - - - - Classe R 6.911 5.384 6.001 3.924 Classe U - - - -

Numero di azioni in circolazione Classe 1 - - - - Classe 2 - - - - Classe A - - - - Classe B - - - - Classe C - - - - Classe D - - - - Classe F - - - - Classe I - - - - Classe M - - - - Classe R 3,156,139.180 46,997,056.775 4,310,775.980 71,579,493.006 Classe U - - - -


13

UBI SICAV


UBI SICAV - UBI SICAV - UBI SICAV - UBI SICAV -

Protezione Multiasset Europe Global High Yield Global Multiasset

Mercati Emergenti 50 Euro Hedged 30


ATTIVO Portafoglio titoli al valore di mercato (2) 74,605,050.34 391,929,511.32 760,502,058.32 864,063,037.49 Contratti di opzioni (acquistate) al valore di mercato (2)(11) - 223,878.71 - - Valore di mercato delle swaption (13)(2) - - - - Liquidità bancarie a vista e intermediari (2) 14,349,291.00 7,980,606.44 10,633,852.50 35,882,347.77 Crediti da vendite titoli - 821,914.40 4,294,606.37 11,634,038.91 Crediti da sottoscrizioni - - 3,425,496.84 348,956.48 Crediti da swap - - - - Interessi e dividendi attivi 423,528.67 974,686.39 11,167,645.49 989,148.00 Interessi attivi da contratti per differenze - - - - Interessi attivi da swap - - - - Interessi attivi da swaption - - - - Commissioni di avviamento capitalizzate (2) 431,258.10 2,807,083.59 - 12,014,696.56 Commissioni collocamento capitalizzate - - 5,520,191.14 1,305,748.51 Crediti da acquisto valute - - - - Utile netto non realizzato da operazioni di cambio a termine (10)(2) - 71,042.67 10,409,246.47 229,835.24 Utile netto non realizzato da contratti futures (8)(2) - - - 274,422.98 Utile netto non realizzato da contratti per differenze (12)(2) - - - 392,467.11 Utile netto non realizzato da contratti di swap (14)(2) 343,008.00 - - - Altre attività - 387,597.80 - 36,050.14

TOTALE DELL’ATTIVO 90,152,136.11 405,196,321.32 805,953,097.13 927,170,749.19 PASSIVO Debiti verso banche e importi dovuti agli intermediari - - - 5,844,640.00 Contratti di opzioni (scritte) al valore di mercato (2)(11) - 26,000.00 - - Debiti da acquisto titoli - 299,980.00 4,032,334.35 7,630,165.21 Debiti da rimborsi - 194,436.55 1,003,622.89 620,908.48 Perdita netta non realizzata da operazioni di cambio a termine (10)(2) - - - - Perdita netta non realizzata da contratti futures (8)(2) - 124,375.10 234,599.59 - Perdita netta non realizzata da contratti per differenze (12)(2) - - - - Perdita netta non realizzata da contratti di swap (14)(2) - - - - Commissioni di gestione e distribuzione passive (3) 120,131.94 740,936.24 847,451.15 1,087,016.80 Commissioni di performance passive (4) - 329,580.10 7,414.27 273,374.40 Imposta sui redditi di capitale non realizzata da acq. titoli (2) - - - - Imposte ed oneri 25,923.74 110,826.42 124,875.84 215,547.96 Interessi passivi da contratti per differenze (2) - - - 17,400.96 Interessi passivi da swap - - - - Debiti da vendita valute - - - - Altre passività - - 295,091.80 134,466.33

TOTALE DEL PASSIVO 146,055.68 1,826,134.41 6,545,389.89 15,823,520.14


Valore netto per azione Classe 1 - - - - Classe 2 - - - - Classe A - 5.088 - 4.978 Classe B - - - - Classe C - - 5.131 4.805 Classe D - - 5.241 5.281 Classe F - - 5.069 5.182 Classe I - - 5.560 5.069 Classe M - - - - Classe R 4.638 - 5.364 5.079 Classe U - - 5.243 5.190

Numero di azioni in circolazione Classe 1 - - - - Classe 2 - - - - Classe A - 79,276,327.608 - 159,433,420.580 Classe B - - - - Classe C - - 2,671,886.837 1,249,192.171 Classe D - - 219,603.540 186,564.442 Classe F - - 6,798,733.414 1,473,965.252 Classe I - - 81,201,741.187 2,562,927.824 Classe M - - - - Classe R 19,406,089.647 - 19,117,086.042 9,127,684.122 Classe U - - 37,399,603.904 8,433,365.415


14

UBI SICAV



Italian Equity Income European Global Stars

Opportunities Equity


ATTIVO Portafoglio titoli al valore di mercato (2) 310,607,225.59 778,006,243.16 133,166,941.64 1,169,445,749.56 Contratti di opzioni (acquistate) al valore di mercato (2)(11) - - - - Valore di mercato delle swaption (13)(2) - - - - Liquidità bancarie a vista e intermediari (2) 7,468,860.01 47,788,694.11 3,413,414.33 74,773,906.13 Crediti da vendite titoli - - - - Crediti da sottoscrizioni 44,688.52 9,988.00 39,976.00 148,716.00 Crediti da swap - 7,447.74 - - Interessi e dividendi attivi 117,831.78 1,233,042.03 267,353.10 - Interessi attivi da contratti per differenze - - - - Interessi attivi da swap - - - - Interessi attivi da swaption - - - - Commissioni di avviamento capitalizzate (2) - 14,384,762.46 - 27,420,701.50 Commissioni collocamento capitalizzate 110,265.64 116,746.09 74,944.31 436,742.91 Crediti da acquisto valute - - - - Utile netto non realizzato da operazioni di cambio a termine (10)(2) 93,973.69 - 144,259.96 - Utile netto non realizzato da contratti futures (8)(2) - - - - Utile netto non realizzato da contratti per differenze (12)(2) - - - - Utile netto non realizzato da contratti di swap (14)(2) - - - - Altre attività 49,493.12 185,616.69 94,392.65 205,093.84

TOTALE DELL’ATTIVO 318,492,338.35 841,732,540.28 137,201,281.99 1,272,430,909.94 PASSIVO Debiti verso banche e importi dovuti agli intermediari - - 389.73 - Contratti di opzioni (scritte) al valore di mercato (2)(11) - - - - Debiti da acquisto titoli 4,291,967.93 - 1,907,541.38 - Debiti da rimborsi 33,295.21 334,854.33 - 726,078.34 Perdita netta non realizzata da operazioni di cambio a termine (10)(2) - 116,257.12 - - Perdita netta non realizzata da contratti futures (8)(2) - 2,230,289.44 - 850,544.54 Perdita netta non realizzata da contratti per differenze (12)(2) - 308,441.90 - - Perdita netta non realizzata da contratti di swap (14)(2) - 1,115,880.25 - - Commissioni di gestione e distribuzione passive (3) 47,188.26 1,394,954.41 19,666.31 1,766,922.60 Commissioni di performance passive (4) 23,710.95 2,300.36 27,513.62 903,462.45 Imposta sui redditi di capitale non realizzata da acq. titoli (2) - - - - Imposte ed oneri 36,526.11 240,140.56 17,624.68 243,663.64 Interessi passivi da contratti per differenze (2) - 2,219.81 - - Interessi passivi da swap - - - - Debiti da vendita valute - - - - Altre passività 1,057.08 7,847.28 4,029.07 17,194.88

TOTALE DEL PASSIVO 4,433,745.54 5,753,185.46 1,976,764.79 4,507,866.45

TOTALE DEL PATRIMONIO NETTO 314,058,592.81 835,979,354.82 135,224,517.20 1,267,923,043.49

Valore netto per azione Classe 1 - - - 5.093 Classe 2 - - - 5.081 Classe A - 4.580 - 5.287 Classe B - - - 5.220 Classe C - 4.572 4.852 5.110 Classe D 5.416 5.057 5.495 - Classe F 6.272 5.032 5.463 - Classe I 5.571 - 4.910 - Classe M 6.269 - 5.814 - Classe R 5.207 4.751 5.402 5.184 Classe U 6.085 5.061 5.719 5.065

Numero di azioni in circolazione Classe 1 - - - 12,303,787.000 Classe 2 - - - 69,681,726.800 Classe A - 180,891,221.649 - 131,297,179.536 Classe B - - - 26,487,520.801 Classe C - 364,812.980 39,505.616 120,100.711 Classe D 47,087.923 38,456.607 23,887.382 - Classe F 254,291.145 267,868.825 80,491.000 - Classe I 5,273,358.086 - 2,400,000.000 - Classe M 44,679,408.798 - 20,684,427.592 - Classe R 7,173.149 258,037.167 520.230 103,922.929 Classe U 443,743.214 611,539.010 421,399.147 3,485,266.980


15

UBI SICAV


UBI SICAV - UBI SICAV - UBI SICAV - Euro UBI SICAV - Obiettivo

Social 4 Future Global Corporate Bond Stabilità

Multiasset 15 High Potential


ATTIVO Portafoglio titoli al valore di mercato (2) 364,176,925.25 778,989,809.69 2,228,335,719.93 764,780,217.67 Contratti di opzioni (acquistate) al valore di mercato (2)(11) - - 887,612.87 534,681.36 Valore di mercato delle swaption (13)(2) - - - - Liquidità bancarie a vista e intermediari (2) 3,249,454.40 68,232,306.47 76,079,705.96 88,568,873.85 Crediti da vendite titoli - 6,570,867.54 8,335,217.65 1,430,700.94 Crediti da sottoscrizioni 364,832.00 1,312,164.00 523,621.60 - Crediti da swap - - - - Interessi e dividendi attivi 2,247,914.15 1,163,286.50 23,346,092.95 2,689,599.24 Interessi attivi da contratti per differenze - - - - Interessi attivi da swap - - - - Interessi attivi da swaption - - - - Commissioni di avviamento capitalizzate (2) 6,861,666.34 17,328,553.57 49,720,093.30 20,310,744.50 Commissioni collocamento capitalizzate 197,964.18 4,062,544.68 1,659,618.05 - Crediti da acquisto valute - - - - Utile netto non realizzato da operazioni di cambio a termine (10)(2) - 858,357.95 283,609.25 1,855,005.35 Utile netto non realizzato da contratti futures (8)(2) 232,200.00 1,088,891.07 - 245,139.65 Utile netto non realizzato da contratti per differenze (12)(2) - - - - Utile netto non realizzato da contratti di swap (14)(2) - - - - Altre attività - 98.25 - 6,377.67

TOTALE DELL’ATTIVO 377,330,956.32 879,606,879.72 2,389,171,291.56 880,421,340.23 PASSIVO Debiti verso banche e importi dovuti agli intermediari - 5,764,128.98 - - Contratti di opzioni (scritte) al valore di mercato (2)(11) - - - 51,037.74 Debiti da acquisto titoli - 2,861,311.96 22,871,130.00 6,998,373.22 Debiti da rimborsi 98,848.42 810,233.98 771,198.33 601,490.72 Perdita netta non realizzata da operazioni di cambio a termine (10)(2) - - - - Perdita netta non realizzata da contratti futures (8)(2) - - - - Perdita netta non realizzata da contratti per differenze (12)(2) - - - - Perdita netta non realizzata da contratti di swap (14)(2) - - - - Commissioni di gestione e distribuzione passive (3) 482,662.02 1,036,177.08 2,613,609.39 984,979.19 Commissioni di performance passive (4) - 67,742.27 - - Imposta sui redditi di capitale non realizzata da acq. titoli (2) - - - - Imposte ed oneri 96,780.52 202,500.78 542,667.43 220,632.72 Interessi passivi da contratti per differenze (2) - 665.87 - - Interessi passivi da swap - - - - Debiti da vendita valute - - - - Altre passività 10,259.93 30,693.65 24,735,498.08 -

TOTALE DEL PASSIVO 688,550.89 10,773,454.57 51,534,103.23 8,856,513.59

TOTALE DEL PATRIMONIO NETTO 376,642,405.43 868,833,425.15 2,337,637,188.33 871,564,826.64

Valore netto per azione Classe 1 5.026 4.991 5.064 4.981 Classe 2 - 4.988 5.000 4.968 Classe A 5.197 5.145 5.133 4.926 Classe B - - - - Classe C 5.218 5.038 5.207 - Classe D - 5.003 - - Classe F - 5.052 - - Classe I 5.039 5.060 5.106 - Classe M - - - - Classe R 5.242 5.066 5.248 4.978 Classe U 5.016 5.142 5.244 -

Numero di azioni in circolazione Classe 1 21,287,559.800 17,846,395.200 87,148,849.070 21,441,199.200 Classe 2 - 80,425,934.508 90,512,436.800 16,960,967.898 Classe A 49,933,546.900 38,256,439.386 247,159,910.586 138,132,637.501 Classe B - - - - Classe C 161,325.881 395,651.356 713,774.609 - Classe D - 52,108.374 - - Classe F - 2,526,895.127 - - Classe I 15,077.049 1,173,962.924 17,875,470.000 - Classe M - - - - Classe R 247,685.054 721,338.274 631,737.902 19,672.227 Classe U 1,579,505.060 30,563,308.616 14,645,694.313 -


16

UBI SICAV


UBI SICAV - Obiettivo UBI SICAV - Globo UBI SICAV - UBI SICAV - Global

Controllo (Global Bond) US Core Inflation

Equity Linked (1)


ATTIVO Portafoglio titoli al valore di mercato (2) 559,827,733.29 209,813,419.69 17,499,665.19 62,712,867.63 Contratti di opzioni (acquistate) al valore di mercato (2)(11) 377,388.62 160,434.00 - 23,973.27 Valore di mercato delle swaption (13)(2) - - - - Liquidità bancarie a vista e intermediari (2) 54,227,258.95 2,804,125.56 56,301.61 12,804,764.89 Crediti da vendite titoli 3,782,173.70 308,014.81 863,045.61 - Crediti da sottoscrizioni - 58,352.00 72,772.73 868,793.31 Crediti da swap - - - - Interessi e dividendi attivi 1,776,049.08 2,148,825.47 11,411.26 261,881.74 Interessi attivi da contratti per differenze - - - - Interessi attivi da swap - 5,907.37 - - Interessi attivi da swaption - - - - Commissioni di avviamento capitalizzate (2) 15,049,023.12 4,820,582.22 - - Commissioni collocamento capitalizzate - 255,729.55 13,910.99 - Crediti da acquisto valute - - 15,572.64 - Utile netto non realizzato da operazioni di cambio a termine (10)(2) 1,027,280.97 - 185.32 16,475.24 Utile netto non realizzato da contratti futures (8)(2) 417,896.46 385,396.26 - 7,506.00 Utile netto non realizzato da contratti per differenze (12)(2) - - - - Utile netto non realizzato da contratti di swap (14)(2) - 407,306.65 - - Altre attività 56,555.26 - - 689.80

TOTALE DELL’ATTIVO 636,541,359.45 221,168,093.58 18,532,865.35 76,696,951.88 PASSIVO Debiti verso banche e importi dovuti agli intermediari - - - 60,840.21 Contratti di opzioni (scritte) al valore di mercato (2)(11) 29,833.65 83,144.00 - 2,876.52 Debiti da acquisto titoli 9,343,921.87 2,092,317.53 937,928.10 - Debiti da rimborsi 38,991.39 191,603.59 3,363.77 142,730.45 Perdita netta non realizzata da operazioni di cambio a termine (10)(2) - 1,809,849.72 - - Perdita netta non realizzata da contratti futures (8)(2) - - - - Perdita netta non realizzata da contratti per differenze (12)(2) - - - - Perdita netta non realizzata da contratti di swap (14)(2) - - - - Commissioni di gestione e distribuzione passive (3) 722,268.61 285,365.86 19,628.57 16,924.97 Commissioni di performance passive (4) 5,164.70 602,583.28 - - Imposta sui redditi di capitale non realizzata da acq. titoli (2) - - - - Imposte ed oneri 138,701.97 71,666.78 7,508.41 4,733.02 Interessi passivi da contratti per differenze (2) - - - - Interessi passivi da swap - 24.35 - - Debiti da vendita valute - - 15,592.69 - Altre passività - 984.50 - -

TOTALE DEL PASSIVO 10,278,882.19 5,137,539.61 984,021.54 228,105.17


Valore netto per azione Classe 1 4.945 - - - Classe 2 - - - - Classe A 5.003 4.796 - - Classe B - - - - Classe C - - - - Classe D - - - - Classe F - - - - Classe I - - 5.520 4.937 Classe M - - - - Classe R 4.959 4.890 - - Classe U - 4.911 4.835 -

Numero di azioni in circolazione Classe 1 56,086,919.000 - - - Classe 2 - - - - Classe A 69,747,421.408 42,878,305.198 - - Classe B - - - - Classe C - - - - Classe D - - - - Classe F - - - - Classe I - - 3,077,290.983 15,488,365.645 Classe M - - - - Classe R 4,188.205 26,854.678 - - Classe U - 2,091,487.519 116,131.713 - (1) Cfr. Nota 17.


17

UBI SICAV


UBI SICAV - UBI SICAV - Euro UBI SICAV - Consolidated

Strategic High Yield (1) Italian Mid Cap

Bond (1) Equity (1)


ATTIVO Portafoglio titoli al valore di mercato (2) 149,307,341.87 80,901,512.06 16,874,260.40 16,288,958,258.66 Contratti di opzioni (acquistate) al valore di mercato (2)(11) 128,604.03 33,285.48 - 2,477,488.55 Valore di mercato delle swaption (13)(2) - - - 6,665,797.24 Liquidità bancarie a vista e intermediari (2) 9,089,742.49 6,239,068.43 1,375,781.86 679,857,909.19 Crediti da vendite titoli - - - 84,726,020.41 Crediti da sottoscrizioni 891,540.74 - - 15,512,945.78 Crediti da swap - - - 7,447.74 Interessi e dividendi attivi 1,160,319.62 1,079,149.42 - 101,812,652.31 Interessi attivi da contratti per differenze - - - 167,783.30 Interessi attivi da swap - - - 5,907.37 Interessi attivi da swaption - - - 64,857.15 Commissioni di avviamento capitalizzate (2) 3,226,766.60 - - 182,052,563.51 Commissioni collocamento capitalizzate 95,050.46 - - 22,359,829.50 Crediti da acquisto valute - - - 1,839,044.04 Utile netto non realizzato da operazioni di cambio a termine (10)(2) 388,035.66 912.45 - 29,613,015.15 Utile netto non realizzato da contratti futures (8)(2) 789,422.78 - - 6,251,594.85 Utile netto non realizzato da contratti per differenze (12)(2) - - - 392,866.60 Utile netto non realizzato da contratti di swap (14)(2) - - - 1,355,439.26 Altre attività 1,286.42 - - 2,248,265.42

TOTALE DELL’ATTIVO 165,078,110.67 88,253,927.84 18,250,042.26 17,426,369,686.03 PASSIVO Debiti verso banche e importi dovuti agli intermediari - - - 11,704,898.46 Contratti di opzioni (scritte) al valore di mercato (2)(11) - - - 208,491.91 Debiti da acquisto titoli 66,250.00 977,334.39 - 112,064,564.19 Debiti da rimborsi - - - 26,091,224.57 Perdita netta non realizzata da operazioni di cambio a termine (10)(2) - - - 1,953,098.85 Perdita netta non realizzata da contratti futures (8)(2) - - - 5,607,277.30 Perdita netta non realizzata da contratti per differenze (12)(2) - - - 5,381,953.62 Perdita netta non realizzata da contratti di swap (14)(2) - - - 1,344,871.13 Commissioni di gestione e distribuzione passive (3) 29,317.65 31,579.83 14,763.03 17,935,550.23 Commissioni di performance passive (4) 3,231.83 - - 7,313,798.64 Imposta sui redditi di capitale non realizzata da acq. titoli (2) - - - 176,022.20 Imposte ed oneri 8,147.11 6,260.86 4,073.23 3,693,177.49 Interessi passivi da contratti per differenze (2) - - - 21,789.78 Interessi passivi da swap - - - 24.35 Debiti da vendita valute - - - 1,838,985.12 Altre passività 23,423.79 - - 25,650,938.60

TOTALE DEL PASSIVO 130,370.38 1,015,175.08 18,836.26 220,986,666.44

TOTALE DEL PATRIMONIO NETTO 164,947,740.29 87,238,752.76 18,231,206.00 17,205,383,019.59

Valore netto per azione Classe 1 - - - Classe 2 - - - Classe A 4.996 - - Classe B - - - Classe C - - - Classe D - - - Classe F - - - Classe I 5.000 5.002 4.917 Classe M - - - Classe R 4.996 - - Classe U 4.998 - -

Numero di azioni in circolazione Classe 1 - - - Classe 2 - - - Classe A 25,109,901.600 - - Classe B - - - Classe C - - - Classe D - - - Classe F - - - Classe I 7,042,263.207 17,441,144.039 3,707,501.708 Classe M - - - Classe R 118,760.488 - - Classe U 740,667.488 - - (1) Cfr. Nota 17.


18

UBI SICAV

Prospetto delle Operationi e delle Variazioni del Patrimonio Netto al 30 giugno 2017

UBI SICAV - Euro UBI SICAV - Euro UBI SICAV - USA UBI SICAV - Asia

Fixed Income Equity Equity Pacific Equity


ATTIVITA’ NETTE ALL’INIZIO DEL PERIODO 114,767,753.56 573,481,924.08 387,065,693.50 300,506,235.85

RICAVI Dividendi, netti (2) - 12,083,966.38 2,103,699.92 4,430,938.13 Interessi da obbligazioni, netti (2) 539,957.95 19,043.56 - - Interessi bancari (2) 50.45 401.92 3,366.12 2,274.30 Dividendi da Contratti per Differenza (12) - - - - Interessi da contratti di swap (14) - - - - Ricavi da Prestito Titoli (2)(9) 32,795.94 650,572.34 36,961.47 54,064.87 Altri ricavi 0.01 - 55,519.90 - TOTALE DEI RICAVI 572,804.35 12,753,984.20 2,199,547.41 4,487,277.30

SPESE Commissioni di gestione (3) 111,267.79 299,258.27 203,706.61 254,739.91 Commissioni di Performance (4) - 70,349.88 - 712,553.87 Commissioni di banca depositaria (7) 11,262.11 57,663.56 37,169.88 30,325.52 Commissioni di domiciliazione, di amministrazione e di (7) 9,535.73 47,072.94 28,865.38 24,413.88 trasferimento Commissioni di servizi di amministrazione centrale (5) 14,694.61 62,513.76 70,300.83 54,931.79 Spese di revisione contabile, di stampa e di pubblicazione 4,520.77 22,812.76 14,868.76 12,066.17 Tassa d’abbonamento (6) 8,564.55 32,454.65 22,559.67 17,826.04 Oneri bancari e relative commissioni 16,372.54 32,146.96 26,388.39 72,667.43 Interessi bancari 2,912.66 8,139.82 3,207.06 3,304.48 Interessi pagati su Contratti per Differenza (12) - - - - Interessi pagati su contratti di swap (13)(14) - - - - Ammortamento commissioni di avviamento (2) - - - - Spese legali 671.05 3,969.72 3,688.82 1,787.16 Commissioni di distribuzione (3) - 4,398.80 2,359.71 1,497.65 Ammortamento commissioni di collocamento (2) 44,873.89 21,438.10 31,099.99 14,938.56 Altre spese 2,313.61 9,454.56 3,755.48 3,150.30 TOTALE DELLE SPESE 226,989.31 671,673.78 447,970.58 1,204,202.76 UTILE / (PERDITA) NETTO/A SUGLI INVESTIMENTI 345,815.04 12,082,310.42 1,751,576.83 3,283,074.54 Utile/(Perdita) netto(a) realizzato(a) dalla vendita di (2) (572,222.92) 3,548,038.32 12,612,928.37 14,317,604.23 investimenti Utile/(Perdita) netto(a) realizzato(a) dalla vendita di opzioni (2) (186,514.61) - - - Utile/(Perdita) netto(a) realizzato(a) su futures (2) 183,164.52 - - 211,457.44 Utile/(Perdita) netto(a) realizzato(a) da operazioni di cambio a termine - 2,620,285.61 - (28,689.23) Utile/(Perdita) netto(a) realizzato(a) in divisa (16,747.80) (316,144.55) (575,836.09) (322,552.59) Utile/(Perdita) netto(a) realizzato(a) su contratti per differenza (2) - - - - Utile/(Perdita) netto(a) realizzato(a) su contratti di swap - - - - Utile/(Perdita) netto(a) realizzato(a) su swaption - - - - UTILE/PERDITA NETTO/A REALIZZATO/A (246,505.77) 17,934,489.80 13,788,669.11 17,460,894.39 Variazioni di plusvalenze/(minusvalenze) nette non realizzate su: - investimenti (1,129,495.08) 16,705,929.48 (23,454,188.44) 3,930,814.94 - imposta sui redditi di capitale non realizzata da acq. titoli - - - 166.14 - opzioni (2) (53,269.15) - - - - contratti Futures (2) 228,541.77 - - (51,021.86) - swaption (2) - - - - - operazioni di cambio a termine - 169,627.40 - 4,752.57 - contratti Per Differenza - - - - - contratti di Swap (2) - - - - AUMENTO/(DIMINUZIONE) NETTI DEL PATRIMONIO DALLA GESTIONE (1,200,728.23) 34,810,046.68 (9,665,519.33) 21,345,606.18 EVOLUZIONE DEL CAPITALE Emissione di azioni 23,025,150.64 24,088,536.20 7,438,845.01 8,284,582.68 Rimborso di azioni (18,601,627.67) (29,693,050.30) (37,772,524.61) (20,903,973.70) Dividendi distribuiti (15) (7,457.13) - - - PATRIMONIO NETTO ALLA FINE DEL PERIODO 117,983,091.17 602,687,456.66 347,066,494.57 309,232,451.01

Le note allegate formano parte integrante del rendiconto finanziario. 19

UBI SICAV

Prospetto delle Operationi e delle Variazioni del Patrimonio Netto al 30 giugno 2017 (segue)

UBI SICAV - UBI SICAV - UBI SICAV - Euro UBI SICAV - High

Emerging Markets Global Equity Corporate Bond Yield Bond Equity


ATTIVITA’ NETTE ALL’INIZIO DEL PERIODO 470,443,499.96 473,317,360.50 276,119,247.50 1,003,041,061.48

RICAVI Dividendi, netti (2) 6,894,731.73 6,420,325.33 - - Interessi da obbligazioni, netti (2) - - 2,288,973.61 29,344,333.38 Interessi bancari (2) 2,372.86 1,408.19 63.60 4,679.73 Dividendi da Contratti per Differenza (12) - - - - Interessi da contratti di swap (14) - - - - Ricavi da Prestito Titoli (2)(9) 25,678.61 94,542.53 37,096.17 158,841.84 Altri ricavi - 25,954.20 - 256,116.81 TOTALE DEI RICAVI 6,922,783.20 6,542,230.25 2,326,133.38 29,763,971.76

SPESE Commissioni di gestione (3) 503,392.86 411,751.36 561,221.41 3,692,977.06 Commissioni di Performance (4) 1,881,476.87 1,211,196.37 41,736.49 497,921.30 Commissioni di banca depositaria (7) 49,089.59 48,820.21 25,629.42 94,844.98 Commissioni di domiciliazione, di amministrazione e di (7) 39,045.44 38,337.36 21,105.49 166,019.49 trasferimento Commissioni di servizi di amministrazione centrale (5) 77,732.15 67,758.76 35,337.98 111,603.67 Spese di revisione contabile, di stampa e di pubblicazione 34,004.27 19,897.07 10,358.03 63,384.36 Tassa d’abbonamento (6) 28,497.32 31,189.97 25,766.02 216,559.51 Oneri bancari e relative commissioni 207,311.94 29,694.52 19,453.68 49,815.88 Interessi bancari 2,965.46 2,855.64 872.01 13,018.32 Interessi pagati su Contratti per Differenza (12) - - - - Interessi pagati su contratti di swap (13)(14) - - - - Ammortamento commissioni di avviamento (2) - - - 2,103,310.12 Spese legali 2,925.21 2,848.28 6,162.29 5,177.40 Commissioni di distribuzione (3) 1,460.01 8,649.14 8,045.55 13,474.81 Ammortamento commissioni di collocamento (2) 21,721.51 52,208.61 196,938.56 59,370.92 Altre spese 5,173.35 4,775.81 3,239.30 6,933.47 TOTALE DELLE SPESE 2,854,795.98 1,929,983.10 955,866.23 7,094,411.29 UTILE / (PERDITA) NETTO/A SUGLI INVESTIMENTI 4,067,987.22 4,612,247.15 1,370,267.15 22,669,560.47 Utile/(Perdita) netto(a) realizzato(a) dalla vendita di (2) 22,149,060.70 21,780,817.45 666,588.13 29,009,878.10 investimenti Utile/(Perdita) netto(a) realizzato(a) dalla vendita di opzioni (2) - - (186,964.52) - Utile/(Perdita) netto(a) realizzato(a) su futures (2) 792,866.95 290,996.76 (308,591.12) (60,453.25) Utile/(Perdita) netto(a) realizzato(a) da operazioni di cambio a termine (16,425.00) (10,936.64) 264,780.42 33,354,850.30 Utile/(Perdita) netto(a) realizzato(a) in divisa (886,793.98) (227,669.91) (22,786.96) (819,051.16) Utile/(Perdita) netto(a) realizzato(a) su contratti per differenza (2) - - - - Utile/(Perdita) netto(a) realizzato(a) su contratti di swap - - - - Utile/(Perdita) netto(a) realizzato(a) su swaption - - - - UTILE/PERDITA NETTO/A REALIZZATO/A 26,106,695.89 26,445,454.81 1,783,293.10 84,154,784.46 Variazioni di plusvalenze/(minusvalenze) nette non realizzate su: - investimenti 21,434,640.11 (12,758,207.32) (564,675.10) (59,221,088.85) - imposta sui redditi di capitale non realizzata da acq. titoli 86,334.18 - - - - opzioni (2) - - - - - futures (2) 125,628.96 17,017.30 389,391.12 1,630,083.29 - swaption (2) - - - - - operazioni di cambio a termine 15,572.21 18,798.96 9,077.77 14,876,468.70 - contratti per differenza - - - - - contratti di swap (2) - - - - AUMENTO/(DIMINUZIONE) NETTI DEL PATRIMONIO DALLA GESTIONE 47,768,871.35 13,723,063.75 1,617,086.89 41,440,247.60 EVOLUZIONE DEL CAPITALE Emissione di azioni 26,471,949.55 44,819,548.50 21,025,345.41 35,540,615.06 Rimborso di azioni (35,399,763.32) (18,201,476.01) (61,265,822.03) (142,519,934.77) Dividendi distribuiti (15) - (13,315.19) (25,159.17) (32,540,470.91) PATRIMONIO NETTO ALLA FINE DEL PERIODO 509,284,557.54 513,645,181.55 237,470,698.60 904,961,518.46


UBI SICAV


UBI SICAV - Short UBI SICAV - Euro UBI SICAV - UBI SICAV -

Term EUR Liquidity Plus Active Beta Global Corporate Bond



RICAVI Dividendi, netti (2) - - - - Interessi da obbligazioni, netti (2) 974,192.94 1,605,715.87 522,787.84 2,184,833.35 Interessi bancari (2) 23.89 33.94 72.76 617.12 Dividendi da Contratti per Differenza (12) - - - - Interessi da contratti di swap (14) - - - - Ricavi da Prestito Titoli (2)(9) 610.25 1,189.88 236.28 1,104.96 Altri ricavi - - - - TOTALE DEI RICAVI 974,827.08 1,606,939.69 523,096.88 2,186,555.43

SPESE Commissioni di gestione (3) 139,774.21 223,352.78 52,968.49 470,425.61 Commissioni di Performance (4) - - 59,915.19 2,841.57 Commissioni di banca depositaria (7) 9,804.75 21,764.48 3,631.74 15,138.05 Commissioni di domiciliazione, di amministrazione e di (7) 7,679.16 17,245.38 3,552.58 12,008.57 trasferimento Commissioni di servizi di amministrazione centrale (5) 16,867.30 27,073.71 33,265.98 36,965.09 Spese di revisione contabile, di stampa e di pubblicazione 3,843.70 8,524.96 1,435.13 5,909.06 Tassa d’abbonamento (6) 6,000.92 11,107.26 1,782.30 36,572.47 Oneri bancari e relative commissioni 6,563.90 13,154.23 12,218.95 13,843.36 Interessi bancari 4,187.76 2,618.90 703.58 1,759.43 Interessi pagati su Contratti per Differenza (12) - - - - Interessi pagati su contratti di swap (13)(14) - - - - Ammortamento commissioni di avviamento (2) - - - - Spese legali 519.90 1,279.50 216.87 861.20 Commissioni di distribuzione (3) - - - 6,100.89 Ammortamento commissioni di collocamento (2) - - - 448,613.93 Altre spese 1,435.22 2,515.85 396.85 1,475.09 TOTALE DELLE SPESE 196,676.82 328,637.05 170,087.66 1,052,514.32 UTILE / (PERDITA) NETTO/A SUGLI INVESTIMENTI 778,150.26 1,278,302.64 353,009.22 1,134,041.11 Utile/(Perdita) netto(a) realizzato(a) dalla vendita di (2) (720,699.55) (1,005,858.53) (481,627.76) 331,386.26 investimenti Utile/(Perdita) netto(a) realizzato(a) dalla vendita di opzioni (2) (113,679.98) (240,702.30) - - Utile/(Perdita) netto(a) realizzato(a) su futures (2) (125,663.57) (261,000.00) 529,361.03 (128,166.82) Utile/(Perdita) netto(a) realizzato(a) da operazioni di cambio a termine - - (23,732.11) 4,880,813.50 Utile/(Perdita) netto(a) realizzato(a) in divisa 4,875.12 5,609.16 19,872.31 (60,868.58) Utile/(Perdita) netto(a) realizzato(a) su contratti per differenza (2) - - - - Utile/(Perdita) netto(a) realizzato(a) su contratti di swap - - - - Utile/(Perdita) netto(a) realizzato(a) su swaption - - - - UTILE/PERDITA NETTO/A REALIZZATO/A (177,017.72) (223,649.03) 396,882.69 6,157,205.47 Variazioni di plusvalenze/(minusvalenze) nette non realizzate su: - investimenti 55,277.31 (167,981.31) 78,290.61 (5,943,793.24) - imposta sui redditi di capitale non realizzata da acq. titoli - - - - - opzioni (2) (19,311.20) - - - - futures (2) 31,020.00 (3,960.00) (67,575.47) (9,383.80) - swaption (2) - - - - - operazioni di cambio a termine - - 13,560.50 2,281,672.07 - contratti per differenza - - - - - swap (2) - - - - AUMENTO/(DIMINUZIONE) NETTI DEL PATRIMONIO DALLA GESTIONE (110,031.61) (395,590.34) 421,158.33 2,485,700.50 EVOLUZIONE DEL CAPITALE Emissione di azioni 18,861,942.95 20,997,401.00 586,165.89 16,190,267.19 Rimborso di azioni (8,235,409.50) (54,171,434.81) (2,955,492.44) (13,927,522.61) Dividendi distribuiti (15) - - - (30,109.71) PATRIMONIO NETTO ALLA FINE DEL PERIODO 107,367,140.69 204,887,785.24 35,859,702.34 153,084,524.14


UBI SICAV


UBI SICAV - Euro UBI SICAV - Euro UBI SICAV - UBI SICAV -

Corporate Short Equity High Emerging Markets Global Dynamic

Term Dividend Bond Allocation


ATTIVITA’ NETTE ALL’INIZIO DEL PERIODO 1,025,436,765.30 67,322,888.45 44,058,976.93 841,343,948.68

RICAVI Dividendi, netti (2) - 2,089,193.71 - 6,037,171.21 Interessi da obbligazioni, netti (2) 14,142,380.64 - 1,502,191.12 1,752,032.43 Interessi bancari (2) 108.17 0.04 663.36 15,027.47 Dividendi da Contratti per Differenza (12) - - - 514,986.74 Interessi da contratti di swap (14) - - - 508,457.93 Ricavi da Prestito Titoli (2)(9) 64,886.09 97,236.36 51.60 205,852.73 Altri ricavi - 0.01 - 354,706.52 TOTALE DEI RICAVI 14,207,374.90 2,186,430.12 1,502,906.08 9,388,235.03

SPESE Commissioni di gestione (3) 1,890,624.87 545,064.46 244,536.83 4,425,593.66 Commissioni di Performance (4) - 260,708.12 68,073.07 1,986,123.67 Commissioni di banca depositaria (7) 103,215.56 7,405.10 4,669.25 79,841.47 Commissioni di domiciliazione, di amministrazione e di (7) 81,243.31 6,367.30 4,283.62 132,349.08 trasferimento Commissioni di servizi di amministrazione centrale (5) 114,547.24 10,226.45 107,181.89 93,367.98 Spese di revisione contabile, di stampa e di pubblicazione 40,689.48 3,020.56 1,898.12 61,032.00 Tassa d’abbonamento (6) 88,025.98 14,830.87 8,990.79 171,233.03 Oneri bancari e relative commissioni 71,991.37 4,397.92 31,905.39 100,011.09 Interessi bancari 3,648.39 5,384.43 1,085.64 48,661.14 Interessi pagati su Contratti per Differenza (12) - - - 76,113.87 Interessi pagati su contratti di swap (13)(14) - - - 624,978.64 Ammortamento commissioni di avviamento (2) - - - 1,837,918.98 Spese legali 6,092.28 433.63 275.61 4,791.48 Commissioni di distribuzione (3) 3,642.13 5,122.39 4,197.99 117,023.31 Ammortamento commissioni di collocamento (2) - 45,997.83 32,927.30 76,195.41 Altre spese 10,674.28 745.67 487.75 51,352.73 TOTALE DELLE SPESE 2,414,394.89 909,704.73 510,513.25 9,886,587.54 UTILE / (PERDITA) NETTO/A SUGLI INVESTIMENTI 11,792,980.01 1,276,725.39 992,392.83 (498,352.51) Utile/(Perdita) netto(a) realizzato(a) dalla vendita di (2) (17,305,419.40) 18,282.20 (293,944.86) 7,777,381.23 investimenti Utile/(Perdita) netto(a) realizzato(a) dalla vendita di opzioni (2) (332,746.70) - - (3,086,725.00) Utile/(Perdita) netto(a) realizzato(a) su futures (2) 145,000.00 - - 7,110,768.01 Utile/(Perdita) netto(a) realizzato(a) da operazioni di cambio a termine - 73,035.15 214,479.11 10,703,052.54 Utile/(Perdita) netto(a) realizzato(a) in divisa (16,140.16) 18,247.24 (33,236.87) (2,788,288.44) Utile/(Perdita) netto(a) realizzato(a) su contratti per differenza (2) - - - 24,228,979.84 Utile/(Perdita) netto(a) realizzato(a) su contratti di swap - - - - Utile/(Perdita) netto(a) realizzato(a) su swaption - - - - UTILE/PERDITA NETTO/A REALIZZATO/A (5,716,326.25) 1,386,289.98 879,690.21 43,446,815.67 Variazioni di plusvalenze/(minusvalenze) nette non realizzate su: - investimenti 8,919,732.22 2,314,723.81 (79,253.92) (3,969,147.96) - imposta sui redditi di capitale non realizzata da acq. titoli - - - - - opzioni (2) - - - 75,900.00 - futures (2) 387,000.00 - - (2,441,079.16) - swaption (2) - - - - - operazioni di cambio a termine - (21,553.57) 144,232.99 478,022.49 - contratti per differenza - - - (14,500,577.88) - swap (2) - - - 109,734.20 AUMENTO/(DIMINUZIONE) NETTI DEL PATRIMONIO DALLA GESTIONE 3,590,405.97 3,679,460.22 944,669.28 23,199,667.36 EVOLUZIONE DEL CAPITALE Emissione di azioni 204,394,306.68 17,434,769.81 10,229,109.58 42,392,056.34 Rimborso di azioni (153,301,601.62) (8,464,966.73) (3,679,483.94) (79,312,855.71) Dividendi distribuiti (15) - (23,280.13) (18,661.63) (24,109,073.25) PATRIMONIO NETTO ALLA FINE DEL PERIODO 1,080,119,876.33 79,948,871.62 51,534,610.22 803,513,743.42


UBI SICAV


UBI SICAV - UBI SICAV - Beta UBI SICAV - Long/ UBI SICAV -

Cedola Certa Neutral Short Euro Cedola Certa

2012-2015 (1) 2013-2016



RICAVI Dividendi, netti (2) - 421,780.36 692,102.49 - Interessi da obbligazioni, netti (2) 151,996.89 69,310.76 26,857.03 1,954,884.57 Interessi bancari (2) 2.38 0.41 36.70 0.52 Dividendi da Contratti per Differenza (12) - 3,742.14 - - Interessi da contratti di swap (14) - - - - Ricavi da Prestito Titoli (2)(9) - 7,667.98 40,366.23 - Altri ricavi - 430.40 - 128,778.58 TOTALE DEI RICAVI 151,999.27 502,932.05 759,362.45 2,083,663.67

SPESE Commissioni di gestione (3) 58,753.21 49,596.08 204,214.66 377,945.82 Commissioni di Performance (4) 66.00 - - - Commissioni di banca depositaria (7) 2,041.34 5,007.97 4,174.28 14,167.66 Commissioni di domiciliazione, di amministrazione e di (7) 5,201.46 2,612.74 3,862.17 30,707.37 trasferimento Commissioni di servizi di amministrazione centrale (5) 3,234.73 15,338.49 7,946.91 16,652.36 Spese di revisione contabile, di stampa e di pubblicazione 735.25 966.29 1,650.02 5,560.53 Tassa d’abbonamento (6) 3,792.26 1,226.78 5,441.37 26,736.14 Oneri bancari e relative commissioni 1,274.50 11,886.99 12,604.88 7,370.86 Interessi bancari 209.08 453.91 6,690.65 3,684.61 Interessi pagati su Contratti per Differenza (12) - 15,059.99 - - Interessi pagati su contratti di swap (13)(14) - 18,597.78 - - Ammortamento commissioni di avviamento (2) - - - 207,871.59 Spese legali 147.39 146.14 247.87 942.07 Commissioni di distribuzione (3) - - 187.88 - Ammortamento commissioni di collocamento (2) - - 60,888.19 - Altre spese 325.75 17,044.56 571.30 2,117.50 TOTALE DELLE SPESE 75,780.97 137,937.72 308,480.18 693,756.51 UTILE / (PERDITA) NETTO/A SUGLI INVESTIMENTI 76,218.30 364,994.33 450,882.27 1,389,907.16 Utile/(Perdita) netto(a) realizzato(a) dalla vendita di (2) (642,256.82) 2,291,707.68 281,621.13 (4,444,766.32) investimenti Utile/(Perdita) netto(a) realizzato(a) dalla vendita di opzioni Utile/(Perdita) netto(a) realizzato(a) su futures (2) - - (4,272,494.22) - Utile/(Perdita) netto(a) realizzato(a) da operazioni di cambio a termine - - 170,395.20 - Utile/(Perdita) netto(a) realizzato(a) in divisa (358.00) (178.61) (23,329.50) (78.92) Utile/(Perdita) netto(a) realizzato(a) su contratti per differenza (2) - (1,852.59) - - Utile/(Perdita) netto(a) realizzato(a) su contratti di swap - (3,671,482.32) - - Utile/(Perdita) netto(a) realizzato(a) su swaption - - - - UTILE/PERDITA NETTO/A REALIZZATO/A (566,396.52) (1,016,811.51) (3,392,925.12) (3,054,938.08) Variazioni di plusvalenze/(minusvalenze) nette non realizzate su: - investimenti 523,502.31 (1,133,777.60) 908,656.39 2,994,082.37 - imposta sui redditi di capitale non realizzata da acq. titoli - - - - - opzioni (2) - - - - - futures (2) - - 1,778,744.22 - - swaption (2) - - - - - operazioni di cambio a termine - - 9,107.43 - - contratti per differenza - 2,138.34 - - - swap (2) - 1,834,043.51 - - AUMENTO/(DIMINUZIONE) NETTI DEL PATRIMONIO DALLA GESTIONE (42,894.21) (314,407.26) (696,417.08) (60,855.71) EVOLUZIONE DEL CAPITALE Emissione di azioni - 248,690.32 2,413,383.50 - Rimborso di azioni (22,372,862.00) (1,799,386.96) (4,428,638.60) (138,652,973.74) Dividendi distribuiti (15) - - - - PATRIMONIO NETTO ALLA FINE DEL PERIODO 12,154,925.84 23,727,501.77 40,951,699.02 69,572,289.46

(1) Cfr. Nota 17.


UBI SICAV


UBI SICAV - UBI SICAV - UBI SICAV - Focus UBI SICAV -

Protezione e Cedola Certa Italia Cedola Mercati

Crescita 2017 2013-2017 Emergenti



RICAVI Dividendi, netti (2) - - - - Interessi da obbligazioni, netti (2) 244,206.20 5,793,058.08 493,553.45 9,256,085.17 Interessi bancari (2) - 0.54 99.20 3,766.12 Dividendi da Contratti per Differenza (12) - - - - Interessi da contratti di swap (14) 89,453.24 - - - Ricavi da Prestito Titoli (2)(9) - - - 5,446.39 Altri ricavi 27,316.90 137,302.66 - 142,333.97 TOTALE DEI RICAVI 360,976.34 5,930,361.28 493,652.65 9,407,631.65

SPESE Commissioni di gestione (3) 63,929.13 792,911.94 138,268.43 1,443,585.27 Commissioni di Performance (4) - - - - Commissioni di banca depositaria (7) 2,555.34 28,193.72 3,267.97 28,905.97 Commissioni di domiciliazione, di amministrazione e di (7) 6,049.58 51,149.81 7,417.47 57,786.08 trasferimento Commissioni di servizi di amministrazione centrale (5) 6,141.00 32,155.10 7,369.60 113,764.29 Spese di revisione contabile, di stampa e di pubblicazione 1,008.15 11,096.21 1,251.57 11,552.39 Tassa d’abbonamento (6) 6,025.42 67,678.53 7,087.92 72,891.24 Oneri bancari e relative commissioni 2,234.36 15,198.88 1,797.99 133,563.64 Interessi bancari 1,056.46 1,036.58 167.97 5,997.41 Interessi pagati su Contratti per Differenza (12) - - - - Interessi pagati su contratti di swap (13)(14) 381,638.04 - - - Ammortamento commissioni di avviamento (2) - 605,440.15 - 1,098,831.11 Spese legali 751.67 1,745.69 210.27 3,364.10 Commissioni di distribuzione (3) - - - - Ammortamento commissioni di collocamento (2) - - - - Altre spese 9,973.85 3,893.74 771.77 3,258.96 TOTALE DELLE SPESE 481,363.00 1,610,500.35 167,610.96 2,973,500.46 UTILE / (PERDITA) NETTO/A SUGLI INVESTIMENTI (120,386.66) 4,319,860.93 326,041.69 6,434,131.19 Utile/(Perdita) netto(a) realizzato(a) dalla vendita di (2) 223,071.25 1,452,741.46 (81,894.72) (2,367,968.43) investimenti Utile/(Perdita) netto(a) realizzato(a) dalla vendita di opzioni (2) - (43,500.00) (8,949.82) - Utile/(Perdita) netto(a) realizzato(a) su futures (2) - - - - Utile/(Perdita) netto(a) realizzato(a) da operazioni di cambio a termine - - - 1,411,781.92 Utile/(Perdita) netto(a) realizzato(a) in divisa 0.03 (8,424.30) (7,222.58) (174,082.51) Utile/(Perdita) netto(a) realizzato(a) su contratti per differenza (2) - - - - Utile/(Perdita) netto(a) realizzato(a) su contratti di swap - - - - Utile/(Perdita) netto(a) realizzato(a) su swaption 2,194,417.38 - - - UTILE/PERDITA NETTO/A REALIZZATO/A 2,297,102.00 5,720,678.09 227,974.57 5,303,862.17 Variazioni di plusvalenze/(minusvalenze) nette non realizzate su: - investimenti (478,842.74) (2,344,123.45) (422,796.45) 1,770,155.60 - imposta sui redditi di capitale non realizzata da acq. titoli - - - - - opzioni (2) - - - - - futures (2) - - - - - swaption (2) (542,898.65) - - - - operazioni di cambio a termine - - - 973,498.54 - contratti per differenza - - - - - swap (2) - - - - AUMENTO/(DIMINUZIONE) NETTI DEL PATRIMONIO DALLA GESTIONE 1,275,360.61 3,376,554.64 (194,821.88) 8,047,516.31 EVOLUZIONE DEL CAPITALE Emissione di azioni - 0.01 - - Rimborso di azioni (7,594,768.78) (74,941,516.52) (15,630,290.03) (26,600,263.60) Dividendi distribuiti (15) - - - - PATRIMONIO NETTO ALLA FINE DEL PERIODO 21,813,313.65 253,052,442.85 25,870,399.40 280,869,765.74


UBI SICAV



Protezione Multiasset Europe Global High Yield Global Multiasset

Mercati Emergenti 50 Euro Hedged 30



RICAVI Dividendi, netti (2) - 5,349,192.64 - 8,485,146.91 Interessi da obbligazioni, netti (2) 1,308,155.74 1,080,762.19 21,171,526.17 608,425.56 Interessi bancari (2) 82.33 760.02 2,637.52 1,495.63 Dividendi da Contratti per Differenza (12) - - - - Interessi da contratti di swap (14) - - - 130,631.82 Ricavi da Prestito Titoli (2)(9) - 277,301.05 - 236,311.16 Altri ricavi 32,444.32 75,215.44 - 289,027.29 TOTALE DEI RICAVI 1,340,682.39 6,783,231.34 21,174,163.69 9,751,038.37

SPESE Commissioni di gestione (3) 364,353.41 2,122,481.96 2,292,739.72 3,203,494.77 Commissioni di Performance (4) - 603,804.99 7,414.27 621,231.52 Commissioni di banca depositaria (7) 9,248.61 41,539.62 70,986.38 89,232.61 Commissioni di domiciliazione, di amministrazione e di (7) 19,114.61 80,850.75 55,204.64 171,060.62 trasferimento Commissioni di servizi di amministrazione centrale (5) 12,180.10 51,977.33 83,008.91 95,309.38 Spese di revisione contabile, di stampa e di pubblicazione 1,398.47 17,061.59 11,341.21 14,318.02 Tassa d’abbonamento (6) 23,264.56 94,932.67 114,848.47 194,790.35 Oneri bancari e relative commissioni 1,601.84 42,172.44 31,337.36 79,960.65 Interessi bancari 1,414.84 20,420.35 7,505.33 20,033.18 Interessi pagati su Contratti per Differenza (12) - - - 94,901.65 Interessi pagati su contratti di swap (13)(14) - - - - Ammortamento commissioni di avviamento (2) 263,751.80 1,108,728.84 - 2,360,908.63 Spese legali 556.57 4,358.92 4,314.01 5,308.86 Commissioni di distribuzione (3) - - 4,144.37 3,735.19 Ammortamento commissioni di collocamento (2) - - 598,087.86 107,848.84 Altre spese 4,181.25 4,581.98 7,063.53 63,623.62 TOTALE DELLE SPESE 701,066.06 4,192,911.44 3,287,996.06 7,125,757.89 UTILE / (PERDITA) NETTO/A SUGLI INVESTIMENTI 639,616.33 2,590,319.90 17,886,167.63 2,625,280.48 Utile/(Perdita) netto(a) realizzato(a) dalla vendita di (2) (2,713,930.00) 7,799,984.93 5,707,339.24 2,736,343.02 investimenti Utile/(Perdita) netto(a) realizzato(a) dalla vendita di opzioni (2) - (449,365.16) - (2,302,925.00) Utile/(Perdita) netto(a) realizzato(a) su futures (2) - 210,799.76 276,038.52 179,165.46 Utile/(Perdita) netto(a) realizzato(a) da operazioni di cambio a termine - (142,399.56) 31,481,703.36 5,435,697.86 Utile/(Perdita) netto(a) realizzato(a) in divisa 152.86 (156,506.23) (23,509.20) (2,128,423.74) Utile/(Perdita) netto(a) realizzato(a) su contratti per differenza (2) - - - (1,917,839.15) Utile/(Perdita) netto(a) realizzato(a) su contratti di swap 5,533,618.51 - - - Utile/(Perdita) netto(a) realizzato(a) su swaption - - - - UTILE/PERDITA NETTO/A REALIZZATO/A 3,459,457.70 9,852,833.64 55,327,739.55 4,627,298.93 Variazioni di plusvalenze/(minusvalenze) nette non realizzate su: - investimenti 1,388,650.29 (284,460.31) (54,526,028.03) (2,759,558.87) - imposta sui redditi di capitale non realizzata da acq. titoli - - - - - opzioni (2) - 19,386.83 - 20,700.00 - futures (2) - 7,585.91 (324,074.74) (146,387.04) - swaption (2) - - - - - operazioni di cambio a termine - 466,958.65 13,835,729.76 (1,160,050.18) - contratti per differenza - - - 764,360.18 - swap (2) (1,084,620.90) - - - AUMENTO/(DIMINUZIONE) NETTI DEL PATRIMONIO DALLA GESTIONE 3,763,487.09 10,062,304.72 14,313,366.54 1,346,363.02 EVOLUZIONE DEL CAPITALE Emissione di azioni - - 245,604,351.47 43,813,086.76 Rimborso di azioni (8,187,060.21) (32,975,188.26) (93,222,667.54) (43,525,542.70) Dividendi distribuiti (15) - (20,620,879.05) (134,330.17) (41,932.66) PATRIMONIO NETTO ALLA FINE DEL PERIODO 90,006,080.43 403,370,186.91 799,407,707.24 911,347,229.05


UBI SICAV



Italian Equity Income European Global Stars

Opportunities Equity



RICAVI Dividendi, netti (2) 5,619,446.20 622,749.65 2,923,739.30 320,980.22 Interessi da obbligazioni, netti (2) 9,375.29 1,930,436.78 4,394.67 - Interessi bancari (2) 253.34 1,881.32 137.76 838.38 Dividendi da Contratti per Differenza (12) - 1,109.26 - - Interessi da contratti di swap (14) - 160,059.51 - - Ricavi da Prestito Titoli (2)(9) 374,758.48 - 146,068.51 - Altri ricavi - 911.60 - 1,361.69 TOTALE DEI RICAVI 6,003,833.31 2,717,148.12 3,074,340.24 323,180.29

SPESE Commissioni di gestione (3) 135,212.79 3,955,786.14 50,047.54 4,737,780.89 Commissioni di Performance (4) 2,418.24 5,774.47 45,364.18 1,210,768.68 Commissioni di banca depositaria (7) 31,239.56 81,942.65 13,131.20 117,959.49 Commissioni di domiciliazione, di amministrazione e di (7) 24,987.53 172,923.49 10,886.30 167,501.55 trasferimento Commissioni di servizi di amministrazione centrale (5) 37,042.43 110,659.23 17,571.69 122,877.45 Spese di revisione contabile, di stampa e di pubblicazione 4,734.26 13,302.76 2,100.08 82,439.21 Tassa d’abbonamento (6) 16,822.79 126,172.42 7,242.80 97,897.16 Oneri bancari e relative commissioni 11,978.67 192,785.28 8,605.51 180,963.99 Interessi bancari 2,162.34 14,336.45 5,738.99 46,855.54 Interessi pagati su Contratti per Differenza (12) - 31,680.37 - - Interessi pagati su contratti di swap (13)(14) - - - - Ammortamento commissioni di avviamento (2) - 2,397,412.06 - 3,322,238.20 Spese legali 1,845.52 4,960.70 776.28 6,828.56 Commissioni di distribuzione (3) 1,204.20 488.38 319.61 - Ammortamento commissioni di collocamento (2) 11,707.15 12,301.36 4,298.31 22,579.71 Altre spese 3,193.32 58,571.55 1,353.30 42,291.15 TOTALE DELLE SPESE 284,548.80 7,179,097.31 167,435.79 10,158,981.58 UTILE / (PERDITA) NETTO/A SUGLI INVESTIMENTI 5,719,284.51 (4,461,949.19) 2,906,904.45 (9,835,801.29) Utile/(Perdita) netto(a) realizzato(a) dalla vendita di (2) 8,543,234.54 10,031,796.08 212,916.50 24,556,958.93 investimenti Utile/(Perdita) netto(a) realizzato(a) dalla vendita di opzioni (2) - - - - Utile/(Perdita) netto(a) realizzato(a) su futures (2) - 2,446,149.94 - 4,254,046.51 Utile/(Perdita) netto(a) realizzato(a) da operazioni di cambio a termine 895,675.46 4,436,514.24 9,259.67 - Utile/(Perdita) netto(a) realizzato(a) in divisa (156,072.06) (556,630.58) (82,045.52) (1,176,949.35) Utile/(Perdita) netto(a) realizzato(a) su contratti per differenza (2) - 547,815.13 - - Utile/(Perdita) netto(a) realizzato(a) su contratti di swap - 8,102,319.84 - - Utile/(Perdita) netto(a) realizzato(a) su swaption - - - - UTILE/PERDITA NETTO/A REALIZZATO/A 15,002,122.45 20,546,015.46 3,047,035.10 17,798,254.80 Variazioni di plusvalenze/(minusvalenze) nette non realizzate su: - investimenti 8,461,760.55 (3,293,347.89) 4,652,883.71 1,924,779.27 - imposta sui redditi di capitale non realizzata da acq. titoli - - - - - opzioni (2) - - - - - futures (2) - 473,996.76 - (1,112,309.75) - swaption (2) - - - - - operazioni di cambio a termine 146,294.93 (643,551.76) 171,292.35 - - contratti per differenza - (267,017.45) - - - swap (2) - (3,853,186.35) - - AUMENTO/(DIMINUZIONE) NETTI DEL PATRIMONIO DALLA GESTIONE 23,610,177.93 12,962,908.77 7,871,211.16 18,610,724.32 EVOLUZIONE DEL CAPITALE Emissione di azioni 10,265,935.08 2,956,906.96 3,890,561.64 369,870,442.60 Rimborso di azioni (40,498,811.79) (39,658,777.57) (6,827,352.56) (61,774,805.93) Dividendi distribuiti (15) - (8,894.60) (2,584.17) (16,284,509.98) PATRIMONIO NETTO ALLA FINE DEL PERIODO 314,058,592.81 835,979,354.82 135,224,517.20 1,267,923,043.49


UBI SICAV


UBI SICAV - UBI SICAV - UBI SICAV - Euro UBI SICAV - Obiettivo

Social 4 Future Global Corporate Bond Stabilità

Multiasset 15 High Potential


ATTIVITA’ NETTE ALL’INIZIO DEL PERIODO 387,706,936.89 373,377,897.50 1,396,196,957.18 695,578,641.48

RICAVI Dividendi, netti (2) 759,470.45 6,343,569.56 - 1,195,498.76 Interessi da obbligazioni, netti (2) 3,118,179.48 1,205,510.02 24,426,332.85 3,915,904.36 Interessi bancari (2) 12,277.78 5,193.99 5,430.45 3,351.80 Dividendi da Contratti per Differenza (12) - - - - Interessi da contratti di swap (14) - 16,580.89 - - Ricavi da Prestito Titoli (2)(9) 38,449.76 - - - Altri ricavi 321.47 53,470.52 - 5,195.97 TOTALE DEI RICAVI 3,928,698.94 7,624,324.98 24,431,763.30 5,119,950.89

SPESE Commissioni di gestione (3) 1,445,221.38 2,658,471.09 6,058,245.81 2,631,860.22 Commissioni di Performance (4) - 104,367.14 - 4,837.46 Commissioni di banca depositaria (7) 37,021.28 71,757.98 174,176.01 85,170.73 Commissioni di domiciliazione, di amministrazione e di (7) 72,952.83 86,200.90 318,784.25 153,890.85 trasferimento Commissioni di servizi di amministrazione centrale (5) 40,597.06 87,692.81 194,028.83 91,768.69 Spese di revisione contabile, di stampa e di pubblicazione 24,619.55 31,321.35 72,191.89 30,112.57 Tassa d’abbonamento (6) 94,499.53 196,289.27 513,304.94 208,571.87 Oneri bancari e relative commissioni 18,751.16 51,518.45 128,676.13 72,884.31 Interessi bancari 9,024.68 39,254.44 30,459.09 39,416.94 Interessi pagati su Contratti per Differenza (12) - 7,194.20 - - Interessi pagati su contratti di swap (13)(14) - - - - Ammortamento commissioni di avviamento (2) 905,837.53 1,731,663.32 4,554,216.71 2,012,370.97 Spese legali 2,242.18 3,882.04 10,068.09 3,576.69 Commissioni di distribuzione (3) - 1,288.05 - - Ammortamento commissioni di collocamento (2) 8,519.90 419,778.17 188,763.55 - Altre spese 3,219.75 60,291.14 63,478.46 6,281.05 TOTALE DELLE SPESE 2,662,506.83 5,550,970.35 12,306,393.76 5,340,742.35 UTILE / (PERDITA) NETTO/A SUGLI INVESTIMENTI 1,266,192.11 2,073,354.63 12,125,369.54 (220,791.46) Utile/(Perdita) netto(a) realizzato(a) dalla vendita di (2) 1,959,323.54 (322,324.75) 8,437,279.52 (5,783,695.04) investimenti Utile/(Perdita) netto(a) realizzato(a) dalla vendita di opzioni (2) (112,347.99) (1,067,385.00) (860,010.00) (1,989,007.72) Utile/(Perdita) netto(a) realizzato(a) su futures (2) (359,290.51) (419,711.40) (410,941.60) (2,366,711.25) Utile/(Perdita) netto(a) realizzato(a) da operazioni di cambio a termine - 8,073,210.04 2,575,977.18 10,343,690.65 Utile/(Perdita) netto(a) realizzato(a) in divisa (46,560.91) (2,219,555.29) (1,214,864.42) (3,013,537.77) Utile/(Perdita) netto(a) realizzato(a) su contratti per differenza (2) - (251,446.58) - - Utile/(Perdita) netto(a) realizzato(a) su contratti di swap - - - - Utile/(Perdita) netto(a) realizzato(a) su swaption - - - - UTILE/PERDITA NETTO/A REALIZZATO/A 2,707,316.24 5,866,141.65 20,652,810.22 (3,030,052.59) Variazioni di plusvalenze/(minusvalenze) nette non realizzate su: - investimenti (2,206,732.87) (11,169,953.69) 10,564,162.43 (7,193,817.46) - imposta sui redditi di capitale non realizzata da acq. titoli - - - - - opzioni (2) - - 508,451.57 (18,971.20) - futures (2) 450,190.51 1,167,227.80 991,941.60 935,803.45 - swaption (2) - - - - - operazioni di cambio a termine - 736,824.92 498,689.74 2,005,005.90 - contratti per differenza - 13,096.03 - - - swap (2) - - - - AUMENTO/(DIMINUZIONE) NETTI DEL PATRIMONIO DALLA GESTIONE 950,773.88 (3,386,663.29) 33,216,055.56 (7,302,031.90) EVOLUZIONE DEL CAPITALE Emissione di azioni 9,628,511.14 512,942,101.82 967,401,359.66 192,531,335.65 Rimborso di azioni (16,500,888.57) (14,096,142.16) (34,445,877.21) (9,243,118.59) Dividendi distribuiti (15) (5,142,927.91) (3,768.72) (24,731,306.86) - PATRIMONIO NETTO ALLA FINE DEL PERIODO 376,642,405.43 868,833,425.15 2,337,637,188.33 871,564,826.64


UBI SICAV


UBI SICAV - Obiettivo UBI SICAV - Globo UBI SICAV - UBI SICAV - Global

Controllo (Global Bond) US Core Inflation

Equity Linked (1)


ATTIVITA’ NETTE ALL’INIZIO DEL PERIODO 354,421,835.45 212,108,281.31 16,293,832.83 -

RICAVI Dividendi, netti (2) 1,555,185.29 - 120,449.70 - Interessi da obbligazioni, netti (2) 1,402,275.32 4,053,239.16 - 33,956.89 Interessi bancari (2) 6,619.93 2,069.79 8.05 205.98 Dividendi da Contratti per Differenza (12) - - - - Interessi da contratti di swap (14) - 60,862.00 - - Ricavi da Prestito Titoli (2)(9) - - - - Altri ricavi 272.06 908.31 101.05 - TOTALE DEI RICAVI 2,964,352.60 4,117,079.26 120,558.80 34,162.87

SPESE Commissioni di gestione (3) 1,833,255.60 847,572.00 56,714.26 16,924.97 Commissioni di Performance (4) 49,218.93 884,776.45 17,941.03 - Commissioni di banca depositaria (7) 37,310.97 20,946.27 1,691.04 868.39 Commissioni di domiciliazione, di amministrazione e di (7) 79,789.70 45,833.12 1,661.93 403.05 trasferimento Commissioni di servizi di amministrazione centrale (5) 46,846.91 104,070.60 14,764.94 1,292.56 Spese di revisione contabile, di stampa e di pubblicazione 14,070.19 8,392.13 661.32 133.59 Tassa d’abbonamento (6) 116,386.09 54,393.19 959.52 1,905.59 Oneri bancari e relative commissioni 35,523.31 36,490.45 7,854.44 518.11 Interessi bancari 40,868.95 12,217.19 14.21 330.83 Interessi pagati su Contratti per Differenza (12) - - - - Interessi pagati su contratti di swap (13)(14) - 20,694.05 - - Ammortamento commissioni di avviamento (2) 992,216.01 560,871.07 - - Spese legali 1,740.80 995.61 99.48 35.71 Commissioni di distribuzione (3) - - - - Ammortamento commissioni di collocamento (2) - 16,362.82 1,019.25 - Altre spese 1,585.05 9,316.95 283.18 3.72 TOTALE DELLE SPESE 3,248,812.51 2,622,931.90 103,664.60 22,416.52 UTILE / (PERDITA) NETTO/A SUGLI INVESTIMENTI (284,459.91) 1,494,147.36 16,894.20 11,746.35 Utile/(Perdita) netto(a) realizzato(a) dalla vendita di (2) (1,275,247.45) (307,451.82) 585,442.49 - investimenti Utile/(Perdita) netto(a) realizzato(a) dalla vendita di opzioni (2) (889,489.93) - - 6,914.19 Utile/(Perdita) netto(a) realizzato(a) su futures (2) (927,274.01) 617,734.62 - (9,349.70) Utile/(Perdita) netto(a) realizzato(a) da operazioni di cambio a termine 2,963,040.75 (158,697.64) 84.62 51,628.36 Utile/(Perdita) netto(a) realizzato(a) in divisa (1,389,642.53) 21,571.19 (5,869.37) (46,917.17) Utile/(Perdita) netto(a) realizzato(a) su contratti per differenza (2) - - - - Utile/(Perdita) netto(a) realizzato(a) su contratti di swap - (368,219.67) - - Utile/(Perdita) netto(a) realizzato(a) su swaption - - - - UTILE/PERDITA NETTO/A REALIZZATO/A (1,803,073.08) 1,299,084.04 596,551.94 14,022.03 Variazioni di plusvalenze/(minusvalenze) nette non realizzate su: - investimenti (4,877,150.76) (4,135,406.19) (850,975.83) (896,963.93) - imposta sui redditi di capitale non realizzata da acq. titoli - - - - - opzioni (2) (49,855.34) 39,390.00 - (19,893.86) - futures (2) 589,497.35 508,662.37 - 7,506.00 - swaption (2) - - - - - operazioni di cambio a termine 1,169,900.46 (1,229,441.23) 185.32 16,475.24 - contratti per differenza - - - - - swap (2) - 407,306.65 - - AUMENTO/(DIMINUZIONE) NETTI DEL PATRIMONIO DALLA GESTIONE (4,970,681.37) (3,110,404.36) (254,238.57) (878,854.52) EVOLUZIONE DEL CAPITALE Emissione di azioni 280,553,134.36 10,674,696.41 3,498,209.17 77,493,313.42 Rimborso di azioni (3,741,811.18) (3,642,019.39) (1,988,959.62) (145,612.19) Dividendi distribuiti (15) - - - - PATRIMONIO NETTO ALLA FINE DEL PERIODO 626,262,477.26 216,030,553.97 17,548,843.81 76,468,846.71

(1) Cfr. Nota 17.


UBI SICAV


UBI SICAV - UBI SICAV - Euro UBI SICAV - Consolidated

Strategic High Yield (1) Italian Mid Cap

Bond (1) Equity (1)


ATTIVITA’ NETTE ALL’INIZIO DEL PERIODO - - - 14,892,190,995.79

RICAVI Dividendi, netti (2) - - 196,534.23 74,665,872.17 Interessi da obbligazioni, netti (2) 109,640.14 217,424.43 - 137,461,933.89 Interessi bancari (2) 13.32 22.61 - 78,349.79 Dividendi da Contratti per Differenza (12) - - - 519,838.14 Interessi da contratti di swap (14) - - - 966,045.39 Ricavi da Prestito Titoli (2)(9) - - - 2,588,091.48 Altri ricavi 1.85 - - 1,587,691.53 TOTALE DEI RICAVI 109,655.31 217,447.04 196,534.23 217,867,822.39

SPESE Commissioni di gestione (3) 30,036.09 31,579.83 14,763.03 49,646,402.22 Commissioni di Performance (4) 2,513.39 - - 10,353,393.15 Commissioni di banca depositaria (7) 1,242.36 1,364.11 414.83 1,575,834.01 Commissioni di domiciliazione, di amministrazione e di (7) 1,846.65 557.53 157.20 2,268,518.89 trasferimento Commissioni di servizi di amministrazione centrale (5) 1,459.58 1,813.72 1,016.99 2,252,950.88 Spese di revisione contabile, di stampa e di pubblicazione 193.25 193.57 63.55 670,734.17 Tassa d’abbonamento (6) 3,293.55 2,176.08 2,278.98 2,782,870.84 Oneri bancari e relative commissioni 1,847.05 158.87 123.29 1,797,620.96 Interessi bancari - - - 414,674.74 Interessi pagati su Contratti per Differenza (12) - - - 224,950.08 Interessi pagati su contratti di swap (13)(14) - - - 1,045,908.51 Ammortamento commissioni di avviamento (2) 37,542.66 - - 26,101,129.75 Spese legali 50.76 51.75 17.13 100,965.26 Commissioni di distribuzione (3) - - - 187,340.06 Ammortamento commissioni di collocamento (2) 463.78 - - 2,498,943.50 Altre spese 8.91 5.47 1.26 475,171.39 TOTALE DELLE SPESE 80,498.03 37,900.93 18,836.26 102,397,408.41 UTILE / (PERDITA) NETTO/A SUGLI INVESTIMENTI 29,157.28 179,546.11 177,697.97 115,470,413.98 Utile/(Perdita) netto(a) realizzato(a) dalla vendita di (2) 10,609.54 26,225.93 - 148,749,252.40 investimenti Utile/(Perdita) netto(a) realizzato(a) dalla vendita di opzioni (2) 43,662.54 (11,200.00) - (11,830,937.00) Utile/(Perdita) netto(a) realizzato(a) su futures (2) - 41,500.00 - 7,639,402.07 Utile/(Perdita) netto(a) realizzato(a) da operazioni di cambio a termine 597,925.89 11,697.24 - 120,188,698.89 Utile/(Perdita) netto(a) realizzato(a) in divisa (459,038.13) (6,762.63) - (18,912,348.50) Utile/(Perdita) netto(a) realizzato(a) su contratti per differenza (2) - - - 22,605,656.65 Utile/(Perdita) netto(a) realizzato(a) su contratti di swap - - - 9,596,236.36 Utile/(Perdita) netto(a) realizzato(a) su swaption - - - 2,194,417.38 UTILE/PERDITA NETTO/A REALIZZATO/A 222,317.12 241,006.65 177,697.97 395,700,792.23 Variazioni di plusvalenze/(minusvalenze) nette non realizzate su: - investimenti (1,417,734.98) (264,220.09) (487,994.83) (119,403,675.79) - imposta sui redditi di capitale non realizzata da acq. titoli - - - 86,500.32 - opzioni contracts (2) (92,584.51) 19,066.93 - 429,010.07 - futures (2) 789,422.78 - - 6,353,469.37 - swaption (2) - - - (542,898.65) - operazioni di cambio a termine 388,035.66 912.45 - 35,376,100.27 - contratti per differenza - - - (13,988,000.78) - swap (2) - - - (2,586,722.89) AUMENTO/(DIMINUZIONE) NETTI DEL PATRIMONIO DALLA GESTIONE (110,543.93) (3,234.06) (310,296.86) 301,424,574.15 EVOLUZIONE DEL CAPITALE Emissione di azioni 165,158,232.22 87,241,986.82 18,541,502.86 3,526,508,334.36 Rimborso di azioni (99,948.00) - - (1,391,002,223.47) Dividendi distribuiti (15) - - - (123,738,661.24) PATRIMONIO NETTO ALLA FINE DEL PERIODO 164,947,740.29 87,238,752.76 18,231,206.00 17,205,383,019.59

(1) Cfr. Nota 17.


UBI SICAV

Variazioni nel Numero di Azioni al 30 giugno 2017

UBI SICAV - Euro UBI SICAV - Euro UBI SICAV - USA

Fixed Income Equity Equity

Classe 1

Numero di azioni in circolazione all’inizio del periodo - - -

Numero di azioni sottoscritte - - -

Numero di azioni rimborsate - - -

Numero di azioni in circolazione alla fine del periodo - - -

Classe 2





Classe A





Classe B





Classe C

Numero di azioni in circolazione all’inizio del periodo 294,949.713 - -

Numero di azioni sottoscritte 26,972.419 - -

Numero di azioni rimborsate (45,681.235) - -

Numero di azioni in circolazione alla fine del periodo 276,240.897 - -

Classe D

Numero di azioni in circolazione all’inizio del periodo - 109,658.412 60,796.814

Numero di azioni sottoscritte - 30,097.685 7,633.211

Numero di azioni rimborsate - (13,396.316) (15,441.787)

Numero di azioni in circolazione alla fine del periodo - 126,359.781 52,988.238

Classe F





Classe I

Numero di azioni in circolazione all’inizio del periodo 8,105,981.626 10,042,391.748 689,069.270

Numero di azioni sottoscritte 1,714,413.411 1,420,153.002 111,080.782

Numero di azioni rimborsate (1,334,828.175) (1,827,646.150) (66,196.617)

Numero di azioni in circolazione alla fine del periodo 8,485,566.862 9,634,898.600 733,953.435

Classe M

Numero di azioni in circolazione all’inizio del periodo - 89,112,506.604 57,985,660.704

Numero di azioni sottoscritte - 720,000.000 -

Numero di azioni rimborsate - (2,793,000.000) (5,345,000.000)

Numero di azioni in circolazione alla fine del periodo - 87,039,506.604 52,640,660.704

30

UBI SICAV

Variazioni nel Numero di Azioni al 30 giugno 2017 (segue)

UBI SICAV - Euro UBI SICAV - Euro UBI SICAV - USA

Fixed Income Equity Equity Classe R

Numero di azioni in circolazione all’inizio del periodo 409,587.220 840,053.472 1,098,647.498

Numero di azioni sottoscritte 4,185.107 24,719.772 47,154.811

Numero di azioni rimborsate (73,472.673) (69,273.335) (187,534.930)

Numero di azioni in circolazione alla fine del periodo 340,299.654 795,499.909 958,267.379

Classe U

Numero di azioni in circolazione all’inizio del periodo 2,521,114.728 518,531.402 1,117,524.267

Numero di azioni sottoscritte 552,171.465 1,526,132.578 826,652.700


Numero di azioni in circolazione alla fine del periodo 2,686,777.922 2,026,285.674 1,723,111.475

31

UBI SICAV


UBI SICAV - Asia UBI SICAV - UBI SICAV -

Pacific Equity Emerging Global Equity

Markets Equity

Classe 1





Classe 2





Classe A





Classe B





Classe C

Numero di azioni in circolazione all’inizio del periodo - - 126,389.664

Numero di azioni sottoscritte - - 127,146.482

Numero di azioni rimborsate - - (940.150)

Numero di azioni in circolazione alla fine del periodo - - 252,595.996

Classe D

Numero di azioni in circolazione all’inizio del periodo 47,562.023 57,163.652 219,146.199




Classe F



Numero di azioni rimborsate (937.770) (3,672.879) (21,871.442)


Classe I

Numero di azioni in circolazione all’inizio del periodo 7,086,680.334 17,457,307.581 7,443,468.221

Numero di azioni sottoscritte 470,662.019 2,873,515.238 834,861.598

Numero di azioni rimborsate (1,229,391.589) (2,516,500.277) (1,182,221.283)


Classe M


Numero di azioni sottoscritte - 175,000.000 3,140,000.000

Numero di azioni rimborsate (1,698,000.000) (2,782,000.000) (465,000.000)


32

UBI SICAV


UBI SICAV - Asia UBI SICAV - UBI SICAV -

Pacific Equity Emerging Global Equity Markets Equity

Classe R

Numero di azioni in circolazione all’inizio del periodo 716,761.784 1,039,717.390 536,774.357




Classe U

Numero di azioni in circolazione all’inizio del periodo 288,219.492 655,867.931 1,389,253.105

Numero di azioni sottoscritte 684,796.117 756,374.152 2,035,096.709


Numero di azioni in circolazione alla fine del periodo 929,437.808 1,390,383.038 3,339,265.042

33

UBI SICAV


UBI SICAV - Euro UBI SICAV - High UBI SICAV -

Corporate Bond Yield Bond Short Term EUR

Classe 1





Classe 2





Classe A

Numero di azioni in circolazione all’inizio del periodo - 172,514,419.813 -


Numero di azioni rimborsate - (25,232,998.850) -

Numero di azioni in circolazione alla fine del periodo - 147,281,420.963 -

Classe B





Classe C

Numero di azioni in circolazione all’inizio del periodo 664,035.663 373,031.986 -

Numero di azioni sottoscritte 75,310.590 235,305.526 -

Numero di azioni rimborsate (55,096.327) (19,450.982) -

Numero di azioni in circolazione alla fine del periodo 684,249.926 588,886.530 -

Classe D





Classe F

Numero di azioni in circolazione all’inizio del periodo 1,044,359.723 546,695.428 -



Numero di azioni in circolazione alla fine del periodo 1,327,874.560 1,344,197.903 -

Classe I


Numero di azioni sottoscritte 1,798,758.442 1,704,972.950 5,009,994.420



Classe M





34

UBI SICAV


UBI SICAV - Euro UBI SICAV - High UBI SICAV -

Corporate Bond Yield Bond Short Term EUR Classe R

Numero di azioni in circolazione all’inizio del periodo 608,643.728 2,569,780.596 1,233,315.343




Classe U

Numero di azioni in circolazione all’inizio del periodo 10,275,594.343 1,288,193.626 -

Numero di azioni sottoscritte 840,606.537 1,829,162.393 -

Numero di azioni rimborsate (1,034,487.027) (197,148.925) -


35

UBI SICAV


UBI SICAV - Euro UBI SICAV - UBI SICAV -

Liquidity Plus Active Beta Global Corporate

Bond

Classe 1





Classe 2





Classe A





Classe B





Classe C



Numero di azioni rimborsate - - (52,085.409)


Classe D





Classe F

Numero di azioni in circolazione all’inizio del periodo - - 1,098,359.009



Numero di azioni in circolazione alla fine del periodo - - 1,535,208.195

Classe I

Numero di azioni in circolazione all’inizio del periodo 45,073,025.020 7,023,091.243 805,386.491

Numero di azioni sottoscritte 3,992,368.386 108,058.902 295,136.760

Numero di azioni rimborsate (10,155,084.577) (545,018.088) (130,757.704)

Numero di azioni in circolazione alla fine del periodo 38,910,308.829 6,586,132.057 969,765.547

Classe M





36

UBI SICAV


UBI SICAV - Euro UBI SICAV - UBI SICAV -

Liquidity Plus Active Beta Global Corporate Bond

Classe R

Numero di azioni in circolazione all’inizio del periodo 1,165,183.533 - 1,101,940.968

Numero di azioni sottoscritte 84,476.663 - 173,013.032

Numero di azioni rimborsate (367,422.704) - (210,439.309)

Numero di azioni in circolazione alla fine del periodo 882,237.492 - 1,064,514.691

Classe U


Numero di azioni sottoscritte - - 1,942,933.030

Numero di azioni rimborsate - - (2,176,228.473)


37

UBI SICAV


UBI SICAV - Euro UBI SICAV - Euro UBI SICAV -

Corporate Short Equity High Emerging

Term Dividend Markets Bond

Classe 1





Classe 2





Classe A





Classe B





Classe C





Classe D





Classe F





Classe I





Classe M





38

UBI SICAV


UBI SICAV - Euro UBI SICAV - Euro UBI SICAV - Corporate Short Equity High Emerging


Classe R





Classe U

Numero di azioni in circolazione all’inizio del periodo - 1,765,174.275 811,385.207

Numero di azioni sottoscritte - 1,661,931.017 1,176,393.934



39

UBI SICAV


UBI SICAV - UBI SICAV - UBI SICAV - Beta

Global Dynamic Cedola Certa Neutral

Allocation 2012-2015 (1)

Classe 1





Classe 2





Classe A

Numero di azioni in circolazione all’inizio del periodo 36,427,265.045 - -


Numero di azioni rimborsate (4,774,546.576) - -

Numero di azioni in circolazione alla fine del periodo 31,652,718.469 - -

Classe B





Classe C





Classe D





Classe F





Classe I




Numero di azioni in circolazione alla fine del periodo 1,495,261.808 - 5,124,354.821

Classe M




Numero di azioni in circolazione alla fine del periodo - - - (1) Cfr. Nota 17.

40

UBI SICAV



Global Dynamic Cedola Certa Neutral Allocation 2012-2015 (1)

Classe R


Numero di azioni sottoscritte 1,090,265.043 - -

Numero di azioni rimborsate (1,636,447.070) (4,247,423.725) -


Classe U





(1) Cfr. Nota 17.

41

UBI SICAV


UBI SICAV - UBI SICAV - UBI SICAV -

Long/Short Euro Cedola Certa Protezione e

2013-2016 Crescita 2017

Classe 1





Classe 2





Classe A





Classe B





Classe C





Classe D


Numero di azioni sottoscritte 422.113 - -



Classe F





Classe I





Classe M





42

UBI SICAV



Long/Short Euro Cedola Certa Protezione e 2013-2016 Crescita 2017

Classe R

Numero di azioni in circolazione all’inizio del periodo 145,238.796 39,994,790.002 4,248,794.830


Numero di azioni rimborsate (30,156.987) (26,617,244.702) (1,092,655.650)


Classe U





43

UBI SICAV



Cedola Certa Focus Italia Cedola Mercati

2013-2017 Emergenti

Classe 1





Classe 2





Classe A





Classe B





Classe C





Classe D





Classe F





Classe I





Classe M





44

UBI SICAV



Cedola Certa Focus Italia Cedola Mercati 2013-2017 Emergenti

Classe R


Numero di azioni sottoscritte 0.001 - -



Classe U





45

UBI SICAV



Protezione Multiasset Global High Yield

Mercati Europe 50 Euro Hedged

Emergenti

Classe 1





Classe 2





Classe A





Classe B





Classe C





Classe D





Classe F





Classe I



Numero di azioni rimborsate - - (13,646,818.265)


Classe M





46

UBI SICAV


UBI SICAV - UBI SICAV - UBI SICAV - Protezione Multiasset Global High Yield

Mercati Europe 50 Euro Hedged Emergenti

Classe R



Numero di azioni rimborsate (1,753,555.831) - (2,614,583.879)


Classe U





47

UBI SICAV



Global Italian Equity Income

Multiasset 30 Opportunities

Classe 1





Classe 2





Classe A



Numero di azioni rimborsate (7,633,555.798) - (8,570,642.943)


Classe B





Classe C

Numero di azioni in circolazione all’inizio del periodo 1,096,229.245 - 402,690.227



Numero di azioni in circolazione alla fine del periodo 1,249,192.171 - 364,812.980

Classe D



Numero di azioni rimborsate (20,730.474) (22,455.918) (114.156)


Classe F




Numero di azioni in circolazione alla fine del periodo 1,473,965.252 254,291.145 267,868.825

Classe I



Numero di azioni rimborsate (115,108.321) (2,216,786.933) -


Classe M





48

UBI SICAV



Global Italian Equity Income Multiasset 30 Opportunities

Classe R

Numero di azioni in circolazione all’inizio del periodo 9,372,635.768 7,843.433 260,099.089


Numero di azioni rimborsate (544,677.015) (670.284) (3,080.781)


Classe U

Numero di azioni in circolazione all’inizio del periodo 2,415,140.801 213,523.287 201,201.673




49

UBI SICAV


UBI SICAV - UBI SICAV - UBI SICAV - Social 4

European Global Stars Future

Equity

Classe 1





Classe 2


Numero di azioni sottoscritte - 70,193,897.400 -

Numero di azioni rimborsate - (512,170.600) -


Classe A



Numero di azioni rimborsate - (9,821,948.308) (2,934,602.700)


Classe B





Classe C





Classe D





Classe F





Classe I

Numero di azioni in circolazione all’inizio del periodo 2,400,000.000 - 3,503.115


Numero di azioni rimborsate - - (84.516)

Numero di azioni in circolazione alla fine del periodo 2,400,000.000 - 15,077.049

Classe M





50

UBI SICAV


UBI SICAV - UBI SICAV - UBI SICAV - Social 4

European Global Stars Future Equity

Classe R

Numero di azioni in circolazione all’inizio del periodo 308.482 5,972.113 82,637.142

Numero di azioni sottoscritte 211.748 103,807.847 187,356.399


Numero di azioni in circolazione alla fine del periodo 520.230 103,922.929 247,685.054

Classe U


Numero di azioni sottoscritte 390,309.668 3,495,084.532 1,579,505.060



51

UBI SICAV


UBI SICAV - Global UBI SICAV - Euro UBI SICAV - Obiettivo

Multiasset 15 Corporate Bond Stabilità

High Potential

Classe 1


Numero di azioni sottoscritte - 87,414,483.000 21,516,130.400



Classe 2





Classe A





Classe B





Classe C





Classe D





Classe F





Classe I





Classe M





52

UBI SICAV


UBI SICAV - Global UBI SICAV - Euro UBI SICAV - Obiettivo

Multiasset 15 Corporate Bond Stabilità High Potential

Classe R





Classe U


Numero di azioni sottoscritte 18,483,771.136 6,485,970.670 -



53

UBI SICAV


UBI SICAV - Obiettivo UBI SICAV - Globo UBI SICAV -

Controllo (Global Bond) US Core

Equity

Classe 1





Classe 2





Classe A





Classe B





Classe C





Classe D





Classe F





Classe I





Classe M





54

UBI SICAV


UBI SICAV - Obiettivo UBI SICAV - Globo UBI SICAV -

Controllo (Global Bond) US Core Equity

Classe R

Numero di azioni in circolazione all’inizio del periodo - 13,021.775 -




Classe U


Numero di azioni sottoscritte - 2,107,320.036 116,131.713


Numero di azioni in circolazione alla fine del periodo - 2,091,487.519 116,131.713

55

UBI SICAV


UBI SICAV - UBI SICAV - UBI SICAV - Euro

Global Inflation Strategic High Yield (1)

Linked (1) Bond (1)

Classe 1





Classe 2





Classe A


Numero di azioni sottoscritte - 25,129,896.800 -



Classe B





Classe C





Classe D





Classe F





Classe I





Classe M




Numero di azioni in circolazione alla fine del periodo - - - (1) Cfr. Nota 17.

56

UBI SICAV




Linked (1) Bond (1)

Classe R




Numero di azioni in circolazione alla fine del periodo - 118,760.488 -

Classe U




Numero di azioni in circolazione alla fine del periodo - 740,667.488 -

(1) Cfr. Nota 17.

57

UBI SICAV


UBI SICAV -

Italian Mid Cap

Equity (1)

Classe 1

Numero di azioni in circolazione all’inizio del periodo -

Numero di azioni sottoscritte -

Numero di azioni rimborsate -

Numero di azioni in circolazione alla fine del periodo -

Classe 2





Classe A





Classe B





Classe C





Classe D





Classe F





Classe I


Numero di azioni sottoscritte 3,707,501.708


Numero di azioni in circolazione alla fine del periodo 3,707,501.708

Classe M




Numero di azioni in circolazione alla fine del periodo - (1) Cfr. Nota 17.

58

UBI SICAV


UBI SICAV -

Italian Mid Cap Equity (1)

Classe R





Classe U





(1) Cfr. Nota 17.

59

UBI SICAV

Dati Statistici UBI SICAV - Euro UBI SICAV - Euro UBI SICAV - USA

Fixed Income Equity Equity

EUR EUR EUR

Totale del Patrimonio Netto

30 giugno 2017 117,983,091.17 602,687,456.66 347,066,494.57

31 dicembre 2016 114,767,753.56 573,481,924.08 387,065,693.50

31 dicembre 2015 87,727,008.12 64,792,507.77 16,633,871.67

Valore netto per azione alla fine del periodo

30 giugno 2017

Classe 1 - - -

Classe 2 - - -

Classe A - - -

Classe B - - -

Classe C 4.969 - -

Classe D - 6.393 7.393

Classe F - 6.152 5.423

Classe I 11.723 7.333 10.534

Classe M - 5.906 6.058

Classe R 11.042 6.209 9.635

Classe U 4.978 5.739 5.829

31 dicembre 2016

Classe 1 - - -

Classe A - - -

Classe B - - -

Classe C 5.062 - -

Classe D - 6.096 7.732

Classe F - 5.865 5.672

Classe I 11.839 6.928 10.915

Classe M - 5.556 6.225

Classe R 11.192 5.904 10.049

Classe U 5.046 5.457 6.078

31 dicembre 2015

Classe A - - -

Classe B - - -

Classe C 5.000 - -

Classe D - 6.152 6.730

Classe I 11.478 6.865 9.840

Classe R 10.931 5.925 8.699

60

UBI SICAV

Dati Statistici (segue) UBI SICAV - Asia UBI SICAV - UBI SICAV -

Pacific Equity Emerging Global Equity

Markets Equity

EUR EUR EUR


30 giugno 2017 309,232,451.01 509,284,557.54 513,645,181.55

31 dicembre 2016 300,506,235.85 470,443,499.96 473,317,360.50

31 dicembre 2015 118,369,366.85 112,621,272.69 58,374,900.25


30 giugno 2017

Classe 1 - - -

Classe 2 - - -

Classe A - - -

Classe B - - -

Classe C - - 5.078

Classe D 6.248 5.736 7.162

Classe F 5.957 6.188 5.686

Classe I 8.013 6.978 9.532

Classe M 6.226 6.270 6.005

Classe R 6.893 6.061 8.292

Classe U 6.092 6.396 5.869

31 dicembre 2016

Classe 1 - - -

Classe A - - -

Classe B - - -

Classe C - - 5.046

Classe D 5.893 5.254 7.032

Classe F 5.618 5.667 5.583

Classe I 7.492 6.335 9.275

Classe M 5.808 5.685 5.828

Classe R 6.484 5.537 8.120

Classe U 5.731 5.842 5.747

31 dicembre 2015

Classe A - - -

Classe B - - -

Classe C - - 4.838

Classe D 5.657 4.785 6.542

Classe I 7.063 5.666 8.482

Classe R 6.190 5.015 7.513

61

UBI SICAV

Dati Statistici (segue) UBI SICAV - Euro UBI SICAV - High UBI SICAV -

Corporate Bond Yield Bond Short Term EUR

EUR EUR EUR


30 giugno 2017 237,470,698.60 904,961,518.46 107,367,140.69

31 dicembre 2016 276,119,247.50 1,003,041,061.48 96,850,638.85

31 dicembre 2015 134,465,794.61 993,056,827.60 50,460,268.35


30 giugno 2017

Classe 1 - - -

Classe 2 - - -

Classe A - 5.042 -

Classe B - - -

Classe C 5.012 5.420 -

Classe D 5.311 5.664 -

Classe F 5.015 5.471 -

Classe I 7.984 11.382 3.766

Classe M - - -

Classe R 7.350 10.501 3.679

Classe U 5.072 5.557 -

31 dicembre 2016

Classe 1 - - -

Classe A - 5.032 -

Classe B - - -

Classe C 5.035 5.267 -

Classe D 5.311 5.459 -

Classe F 5.015 5.273 -

Classe I 7.927 10.880 3.770

Classe M - - -

Classe R 7.328 10.081 3.694

Classe U 5.057 5.335 -

31 dicembre 2015

Classe A - 4.685 -

Classe B - - -

Classe C 4.941 4.821 -

Classe D 5.166 4.919 -

Classe I 7.599 9.633 3.759

Classe R 7.085 9.009 3.706

62

UBI SICAV

Dati Statistici (segue) UBI SICAV - Euro UBI SICAV - UBI SICAV -

Liquidity Plus Active Beta Global Corporate

Bond

EUR EUR EUR


30 giugno 2017 204,887,785.24 35,859,702.34 153,084,524.14

31 dicembre 2016 238,457,409.39 37,807,870.56 148,366,188.77

31 dicembre 2015 88,564,083.47 40,562,117.37 12,224,812.43


30 giugno 2017

Classe 1 - - -

Classe 2 - - -

Classe A - - -

Classe B - - -

Classe C - - 5.148

Classe D - - 5.262

Classe F - - 4.994

Classe I 5.153 5.445 6.412

Classe M - - -

Classe R 4.966 - 6.128

Classe U - - 5.051

31 dicembre 2016

Classe 1 - - -

Classe A - - -

Classe B - - -

Classe C - - 5.101

Classe D - - 5.199

Classe F - - 4.933

Classe I 5.162 5.383 6.282

Classe M - - -

Classe R 4.985 - 6.028

Classe U - - 4.968

31 dicembre 2015

Classe A - - -

Classe B - - -

Classe C - - 4.989

Classe D - - 5.057

Classe I 5.155 5.351 6.012

Classe R 5.001 - 5.811

63

UBI SICAV

Dati Statistici (segue) UBI SICAV - Euro UBI SICAV - Euro UBI SICAV -

Corporate Short Equity High Emerging


EUR EUR EUR


30 giugno 2017 1,080,119,876.33 79,948,871.62 51,534,610.22

31 dicembre 2016 1,025,436,765.30 67,322,888.45 44,058,976.93

31 dicembre 2015 881,895,956.45 61,887,272.09 41,871,480.05


30 giugno 2017

Classe 1 - - -

Classe 2 - - -

Classe A - - -

Classe B - - -

Classe C - 4.874 5.225

Classe D 4.967 5.779 4.605

Classe F - 5.813 5.312

Classe I 5.840 7.191 5.763

Classe M - - -

Classe R 5.525 6.059 5.378

Classe U - 5.468 5.369

31 dicembre 2016

Classe 1 - - -

Classe A - - -

Classe B - - -

Classe C - 4.705 5.169

Classe D 4.977 5.514 4.516

Classe F - 5.546 5.209

Classe I 5.817 6.803 5.607

Classe M - - -

Classe R 5.523 5.768 5.256

Classe U - 5.204 5.247

31 dicembre 2015

Classe A - - -

Classe B - - -

Classe C - 4.929 4.817

Classe D 4.973 5.593 4.140

Classe I 5.744 6.778 5.049

Classe R 5.491 5.818 4.782

64

UBI SICAV

Dati Statistici (segue)


Global Dynamic Cedola Certa Neutral

Allocation 2012-2015 (1)

EUR EUR EUR


30 giugno 2017 803,513,743.42 12,154,925.84 23,727,501.77

31 dicembre 2016 841,343,948.68 34,570,682.05 25,592,605.67

31 dicembre 2015 1,005,462,122.44 92,056,930.46 27,393,729.83


30 giugno 2017

Classe 1 - - -

Classe 2 - - -

Classe A 5.144 - -

Classe B 5.144 - -

Classe C 4.859 - -

Classe D 5.447 - -

Classe F 5.300 - -

Classe I 6.842 - 4.630

Classe M - - -

Classe R 6.274 5.258 -

Classe U 5.442 - -

31 dicembre 2016

Classe 1 - - -

Classe A 5.060 - -

Classe B 5.239 - -

Classe C 4.775 - -

Classe D 5.318 - -

Classe F 5.175 - -

Classe I 6.627 - 4.692

Classe M - - -

Classe R 6.105 5.271 -

Classe U 5.296 - -

31 dicembre 2015

Classe A 5.290 - -

Classe B 5.481 - -

Classe C 4.908 - -

Classe D 5.334 - -

Classe I 6.529 - 4.946

Classe R 6.078 5.302 -

(1) Cfr. Nota 17.

65

UBI SICAV



Long/Short Euro Cedola Certa Protezione e

2013-2016 Crescita 2017

EUR EUR EUR


30 giugno 2017 40,951,699.02 69,572,289.46 21,813,313.65

31 dicembre 2016 43,663,371.20 208,286,118.91 28,132,721.82

31 dicembre 2015 26,768,375.73 398,738,764.37 42,309,531.29


30 giugno 2017

Classe 1 - - -

Classe 2 - - -

Classe A - - -

Classe B - - -

Classe C - - -

Classe D 4.753 - -

Classe F 4.785 - -

Classe I 5.189 - -

Classe M - - -

Classe R 4.703 5.201 6.911

Classe U 4.744 - -

31 dicembre 2016

Classe 1 - - -

Classe A - - -

Classe B - - -

Classe C - - -

Classe D 4.866 - -

Classe F 4.898 - -

Classe I 5.259 - -

Classe M - - -

Classe R 4.799 5.208 6.621

Classe U 4.841 - -

31 dicembre 2015

Classe A - - -

Classe B - - -

Classe C - - -

Classe D - - -

Classe I 5.408 - -

Classe R 4.999 5.394 6.722

66

UBI SICAV

Dati Statistici (segue) UBI SICAV - UBI SICAV - UBI SICAV -

Cedola Certa Focus Italia Cedola Mercati

2013-2017 Emergenti

EUR EUR EUR


30 giugno 2017 253,052,442.85 25,870,399.40 280,869,765.74

31 dicembre 2016 324,617,404.72 41,695,511.31 299,422,513.03

31 dicembre 2015 425,531,803.12 87,108,981.20 335,254,176.46


30 giugno 2017

Classe 1 - - -

Classe 2 - - -

Classe A - - -

Classe B - - -

Classe C - - -

Classe D - - -

Classe F - - -

Classe I - - -

Classe M - - -

Classe R 5.384 6.001 3.924

Classe U - - -

31 dicembre 2016

Classe 1 - - -

Classe A - - -

Classe B - - -

Classe C - - -

Classe D - - -

Classe F - - -

Classe I - - -

Classe M - - -

Classe R 5.324 6.017 3.825

Classe U - - -

31 dicembre 2015

Classe A - - -

Classe B - - -

Classe C - - -

Classe D - - -

Classe I - - -

Classe R 5.291 6.109 3.686

67

UBI SICAV



Protezione Multiasset Global High Yield

Mercati Europe 50 Euro Hedged

Emergenti

EUR EUR EUR


30 giugno 2017 90,006,080.43 403,370,186.91 799,407,707.24

31 dicembre 2016 94,429,653.55 446,903,949.50 632,846,986.94

31 dicembre 2015 109,320,746.23 553,717,977.31 580,092,435.68


30 giugno 2017

Classe 1 - - -

Classe 2 - - -

Classe A - 5.088 -

Classe B - - -

Classe C - - 5.131

Classe D - - 5.241

Classe F - - 5.069

Classe I - - 5.560

Classe M - - -

Classe R 4.638 - 5.364

Classe U - - 5.243

31 dicembre 2016

Classe 1 - - -

Classe A - 5.220 -

Classe B - - -

Classe C - - 5.107

Classe D - - 5.174

Classe F - - 5.004

Classe I - - 5.440

Classe M - - -

Classe R 4.463 - 5.272

Classe U - - 5.153

31 dicembre 2015

Classe A - 5.475 -

Classe B - - -

Classe C - - 4.955

Classe D - - 4.939

Classe I - - 5.107

Classe R 4.426 - 4.987

68

UBI SICAV



Global Italian Equity Income

Multiasset 30 Opportunities

EUR EUR EUR


30 giugno 2017 911,347,229.05 314,058,592.81 835,979,354.82

31 dicembre 2016 909,755,254.63 320,681,291.59 859,727,211.26

31 dicembre 2015 943,163,702.40 19,074,481.09 972,920,457.38


30 giugno 2017

Classe 1 - - -

Classe 2 - - -

Classe A 4.978 - 4.580

Classe B - - -

Classe C 4.805 - 4.572

Classe D 5.281 5.416 5.057

Classe F 5.182 6.272 5.032

Classe I 5.069 5.571 -

Classe M - 6.269 -

Classe R 5.079 5.207 4.751

Classe U 5.190 6.085 5.061

31 dicembre 2016

Classe 1 - - -

Classe A 4.970 - 4.512

Classe B - - -

Classe C 4.835 - 4.524

Classe D 5.291 5.105 5.009

Classe F 5.192 5.912 4.982

Classe I 5.043 5.203 -

Classe M - 5.824 -

Classe R 5.074 4.895 4.678

Classe U 5.184 5.718 4.994

31 dicembre 2015

Classe A 4.946 - 4.784

Classe B - - -

Classe C 4.861 - 4.788

Classe D - 5.021 -

Classe I 4.873 5.032 -

Classe R 4.942 4.932 4.798

69

UBI SICAV

Dati Statistici (segue) UBI SICAV - UBI SICAV - UBI SICAV - Social 4

European Global Stars Future

Equity

EUR EUR EUR


30 giugno 2017 135,224,517.20 1,267,923,043.49 376,642,405.43

31 dicembre 2016 130,292,681.13 957,501,192.48 387,706,936.89

31 dicembre 2015 11,362,560.11 - -


30 giugno 2017

Classe 1 - 5.093 5.026

Classe 2 - 5.081 -

Classe A - 5.287 5.197

Classe B - 5.220 -

Classe C 4.852 5.110 5.218

Classe D 5.495 - -

Classe F 5.463 - -

Classe I 4.910 - 5.039

Classe M 5.814 - -

Classe R 5.402 5.184 5.242

Classe U 5.719 5.065 5.016

31 dicembre 2016

Classe 1 - 5.024 5.014

Classe A - 5.315 5.284

Classe B - 5.248 -

Classe C 4.691 5.079 5.218

Classe D 5.252 - -

Classe F 5.221 - -

Classe I 4.654 - 5.004

Classe M 5.474 - -

Classe R 5.149 5.115 5.229

Classe U 5.453 - -

31 dicembre 2015

Classe A - - -

Classe B - - -

Classe C 5.008 - -

Classe D - - -

Classe I 4.722 - -

Classe R - - -

70

UBI SICAV

Dati Statistici (segue) UBI SICAV - Global UBI SICAV - Euro UBI SICAV - Obiettivo

Multiasset 15 Corporate Bond Stabilità

High Potential

EUR EUR EUR


30 giugno 2017 868,833,425.15 2,337,637,188.33 871,564,826.64

31 dicembre 2016 373,377,897.50 1,396,196,957.18 695,578,641.48

31 dicembre 2015 - - -


30 giugno 2017

Classe 1 4.991 5.064 4.981

Classe 2 4.988 5.000 4.968

Classe A 5.145 5.133 4.926

Classe B - - -

Classe C 5.038 5.207 -

Classe D 5.003 - -

Classe F 5.052 - -

Classe I 5.060 5.106 -

Classe M - - -

Classe R 5.066 5.248 4.978

Classe U 5.142 5.244 -

31 dicembre 2016

Classe 1 5.013 - -

Classe A 5.167 5.135 4.971

Classe B - - -

Classe C 5.073 5.148 -

Classe D 5.040 - -

Classe F 5.089 - -

Classe I 5.062 4.989 -

Classe M - - -

Classe R 5.088 5.150 -

Classe U 5.165 5.146 -

31 dicembre 2015

Classe A - - -

Classe B - - -

Classe C - - -

Classe D - - -

Classe I - - -

Classe R - - -

71

UBI SICAV

Dati Statistici (segue) UBI SICAV - Obiettivo UBI SICAV - Globo UBI SICAV -

Controllo (Global Bond) US Core

Equity

EUR EUR EUR


30 giugno 2017 626,262,477.26 216,030,553.97 17,548,843.81

31 dicembre 2016 354,421,835.45 212,108,281.31 16,293,832.83

31 dicembre 2015 - - -


30 giugno 2017

Classe 1 4.945 - -

Classe 2 - - -

Classe A 5.003 4.796 -

Classe B - - -

Classe C - - -

Classe D - - -

Classe F - - -

Classe I - - 5.520

Classe M - - -

Classe R 4.959 4.890 -

Classe U - 4.911 4.835

31 dicembre 2016

Classe 1 - - -

Classe A 5.029 4.863 -

Classe B - - -

Classe C - - -

Classe D - - -

Classe F - - -

Classe I - - 5.598

Classe M - - -

Classe R - 4.949 -

Classe U - - -

31 dicembre 2015

Classe A - - -

Classe B - - -

Classe C - - -

Classe D - - -

Classe I - - -

Classe R - - -

72

UBI SICAV




Linked (1) Bond (1)

EUR EUR EUR


30 giugno 2017 76,468,846.71 164,947,740.29 87,238,752.76

31 dicembre 2016 - - -

31 dicembre 2015 - - -


30 giugno 2017

Classe 1 - - -

Classe 2 - - -

Classe A - 4.996 -

Classe B - - -

Classe C - - -

Classe D - - -

Classe F - - -

Classe I 4.937 5.000 5.002

Classe M - - -

Classe R - 4.996 -

Classe U - 4.998 -

31 dicembre 2016

Classe 1 - - -

Classe A - - -

Classe B - - -

Classe C - - -

Classe D - - -

Classe F - - -

Classe I - - -

Classe M - - -

Classe R - - -

Classe U - - -

31 dicembre 2015

Classe A - - -

Classe B - - -

Classe C - - -

Classe D - - -

Classe I - - -

Classe R - - -

(1) Cfr. Nota 17.

73

UBI SICAV

Dati Statistici (segue) UBI SICAV -

Italian Mid Cap

Equity (1)

EUR


30 giugno 2017 18,231,206.00

31 dicembre 2016 -

31 dicembre 2015 -


30 giugno 2017

Classe 1 -

Classe 2 -

Classe A -

Classe B -

Classe C -

Classe D -

Classe F -

Classe I 4.917

Classe M -

Classe R -

Classe U -

31 dicembre 2016

Classe 1 -

Classe A -

Classe B -

Classe C -

Classe D -

Classe F -

Classe I -

Classe M -

Classe R -

Classe U -

31 dicembre 2015

Classe A -

Classe B -

Classe C -

Classe D -

Classe I -

Classe R -

(1) Cfr. Nota 17.

74

UBI SICAV


Prospetto degli investimenti al 30 giugno 2017 (espressi in EURO) Descrizione Valore nominale/ Divisa Costo Valore di Mercato % del

Quantità patrimonio

netto

Valori mobiliari e strumenti del mercato monetario ammessi alla quotazione ufficiale di una borsa valori

Obbligazioni Bei 5.625% 98-15.02.28 90,200 EUR 88,627.79 133,450.90 0.11 Belgium 0.8% 17-22.06.27 Regs 2,800,000 EUR 2,793,866.00 2,798,650.32 2.37 Btps 1.3% 16-15.05.28 /Infl 2,000,000 EUR 2,008,886.17 2,027,300.18 1.72 France 1.75% 16-25.06.39 Oat 1,800,000 EUR 1,804,935.60 1,853,683.18 1.57 France 4% 06-25.10.38 Oat* 2,600,000 EUR 3,698,324.03 3,784,767.82 3.21 Germany 0% 16-15.08.26* 6,500,000 EUR 6,401,230.00 6,268,548.07 5.31 Germany 0.1% 15-15.04.26 /Infl* 4,000,000 EUR 4,409,248.53 4,413,163.60 3.74 Germany 0.1% 15.04.46 /Infl 3,900,000 EUR 4,644,874.74 4,395,303.00 3.73 Germany 0.25% 17-15.02.27 5,000,000 EUR 4,965,600.00 4,894,725.05 4.15 Germany 1% 15-15.08.25* 7,000,000 EUR 7,460,578.28 7,432,768.28 6.30 Italy 0% 16-28.03.18 /Ctz 3,500,000 EUR 3,505,985.00 3,508,190.04 2.97 Italy 0% 16-28.12.18 Ctz 5,000,000 EUR 4,998,400.00 5,011,050.05 4.25 Italy 0% 17-30.05.19 /Ctz 7,500,000 EUR 7,517,925.00 7,505,894.85 6.36 Italy 0.65% 16-15.10.23 /Btp 1,000,000 EUR 973,380.00 959,420.01 0.81 Italy 0.75% 14-15.01.18 /Btp 5,000,000 EUR 5,073,500.00 5,027,629.85 4.26 Italy 1.05% 14-01.12.19 /Btp 3,000,000 EUR 3,091,470.00 3,068,399.97 2.60 Italy 1.65% 14-23.04.20 /Btp 4,000,000 EUR 4,142,842.10 4,210,445.08 3.57 Italy 2.15% 13-12.11.17 Infl 2,000,000 EUR 2,072,978.89 2,023,763.38 1.72 Italy 2.2% 17-01.06.27 /Btp 2,000,000 EUR 1,968,290.00 2,010,955.96 1.70 Italy 2.25% 16-01.09.36 /Btp 3,200,000 EUR 3,072,736.05 2,920,256.10 2.47 Italy 2.55% 09-15.09.41 Infl 1,000,000 EUR 1,319,090.71 1,258,203.04 1.07 Italy 2.8% 16-01.03.67 /Btp 1,100,000 EUR 1,042,480.96 917,532.03 0.78 Italy 3.45% 17-01.03.48 Btp 1,261,000 EUR 1,247,835.16 1,281,554.30 1.09 Italy 4.25% 03-01.02.19 /Btp 5,000,000 EUR 5,372,000.00 5,345,999.90 4.53 Spain 1.5% 17-30.04.27 1,600,000 EUR 1,588,768.00 1,595,904.05 1.35 Spain 2.9% 16-31.10.46 1,000,000 EUR 1,003,974.00 1,010,338.97 0.86 Spanish Gov 1.95% 15-30.07.30 2,000,000 EUR 1,927,537.33 2,003,159.94 1.70

88,195,364.34 87,661,057.92 74.30

Fondi d’Investimento Ubi Pramerica Euro Corpo /Accum 1,000,724 EUR 9,673,999.99 9,827,110.78 8.33 Ubi Sicav Euro Corp Bond I** 1,700,000 EUR 13,339,556.29 13,579,600.00 11.51 Ubi Sicav Euro Corp Sh Term I** 514,000 EUR 2,999,190.00 3,002,274.00 2.54

26,012,746.28 26,408,984.78 22.38

Totale - Valori mobiliari e strumenti del mercato monetario ammessi alla quotazione

ufficiale di una borsa valori 114,208,110.62 114,070,042.70 96.68

Altri valori mobiliari e strumenti del mercato monetario

Fondi d’Investimento Ubi Gl Infl Lkd -I-Cap** 300,000 EUR 1,500,000.00 1,480,500.00 1.26

1,500,000.00 1,480,500.00 1.26

Totale - Altri valori mobiliari e strumenti del mercato monetario 1,500,000.00 1,480,500.00 1.26

Strumenti Finanziari

Opzioni Call Treasury Bonds Usa 21/07/17 157 50 USD 41,550.03 9,588.41 0.01 Put Eur/Usd Spot -Cross Rates 18/08/17 1 5,000,000 EUR 19,500.00 3,965.00 - Put Euro Bund 25/08/17 156 (120) EUR (13,868.64) (15,600.00) (0.01)

* Titoli parzialmente o totalmente prestati (Cfr. Nota 9). ** Investimento in comparti incrociati, cfr. Nota 16, per ulteriori dettagli.


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Prospetto degli investimenti al 30 giugno 2017 (segue) (espressi in EURO)

Descrizione Valore nominale/ Divisa Costo Valore di Mercato % del Quantità patrimonio netto

Put Euro Bund 25/08/17 160 120 EUR 76,800.00 78,000.00 0.06 123,981.39 75,953.41 0.06

Totale - Strumenti Finanziari 123,981.39 75,953.41 0.06

TOTALE DEGLI INVESTIMENTI 115,832,092.01 115,626,496.11 98.00


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Ripartizione Economica e Geografica degli Investimenti al 30 giugno 2017 (in percentuale del patrimonio netto)

Ripartizione economica % Ripartizione geografica %

Stati, Province e Municipalità 74.19

Fondi d’Investimento 23.64

Organismi Sovranazionali 0.11

Varie 0.06

Cassa e Altre Attività / (Passività) 2.00

100.00

Italia 48.23

Germania 23.28

Lussemburgo 15.42

Francia 4.78

Spagna 3.91

Belgio 2.37 Stati Uniti d’America 0.01


100.00

77

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netto


Obbligazioni Italy Frn 10-15.10.17 Cct 6,500,000 EUR 6,568,250.00 6,517,433.00 1.08

6,568,250.00 6,517,433.00 1.08

Fondi d’Investimento Ubi It Mc Eq -I- Cap** 400,000 EUR 2,000,000.00 1,972,400.00 0.33 Ubi Sicav Euro Eq. High Div. I** 1,000,000 EUR 6,308,000.00 7,232,000.00 1.20 Ubi Sicav L/S Eur -I- /Cap** 771,903 EUR 4,170,591.91 3,993,054.22 0.66

12,478,591.91 13,197,454.22 2.19

Azioni Akzo Nobel Nv (Eur 2) 144,000 EUR 11,246,836.19 10,956,960.00 1.82 Allergan Plc* 115,000 USD 23,595,682.54 24,507,188.57 4.07 Allianz Se /Nam. Vinkuliert 74,000 EUR 9,905,232.85 12,757,600.00 2.12 Anheuser-Busch Inbev Sa /Nv 85,000 EUR 9,255,696.45 8,220,350.00 1.36 Autogrill Spa 1,388,132 EUR 9,832,460.06 14,728,080.52 2.44 Bayer 80,000 EUR 8,124,181.97 9,056,000.00 1.50 Bme* 363,752 EUR 9,929,405.71 11,500,019.49 1.91 British American Tobacco (25p) 145,000 GBP 8,386,294.89 8,640,896.18 1.43 Deutsche Telekom /Nam. 1,236,000 EUR 18,315,218.88 19,429,920.00 3.22 Eni Spa Roma 1,193,000 EUR 15,782,742.83 15,699,880.00 2.61 Evonik Industr Shs 277,000 EUR 7,371,139.14 7,751,845.00 1.29 Fiat Chrysler Automobiles Nv* 938,000 EUR 5,942,451.78 8,657,740.00 1.44 Finmeccanica /Post Regroup. 760,727 EUR 8,227,728.64 11,068,577.85 1.84 France Telecom Sa 563,000 EUR 8,314,482.31 7,820,070.00 1.30 Henkel /Vorzug. 88,000 EUR 8,298,304.70 10,604,000.00 1.76 Inditex 734,000 EUR 21,031,676.69 24,669,740.00 4.09 Intesa Sanpaolo 4,554,000 EUR 10,333,614.38 12,641,904.00 2.10 Jeronimo Martins Sgps Sa 1,672,000 EUR 23,451,496.10 28,574,480.00 4.74 Koninklijke Ahold Delhaize N.V. 1,365,000 EUR 25,679,715.64 22,850,100.00 3.79 Lafargeholcim N Namen-Akt. 226,756 CHF 9,654,845.23 11,395,925.93 1.89 Livanova Plc* 120,000 USD 5,426,424.15 6,439,204.00 1.07 Nokia Oy 4,653,000 EUR 22,171,253.47 24,916,815.00 4.13 Nordea Bank Ab /Finn. Dep. Rec* 1,282,000 EUR 10,810,529.41 14,281,480.00 2.37 Pernod-Ricard 130,000 EUR 12,765,825.21 15,242,500.00 2.53 Prysmian Spa 1,200,377 EUR 22,895,310.90 30,909,707.75 5.13 Red Electrica Corporacion. Sa 456,000 EUR 8,884,566.29 8,342,520.00 1.38 Saipem Spa 3,343,000 EUR 11,914,507.97 10,811,262.00 1.79 Sampo Plc A* 674,000 EUR 26,607,073.28 30,242,380.00 5.02 Scor Se 365,000 EUR 10,550,177.83 12,669,150.00 2.10 Shire Plc 436,000 GBP 22,914,668.58 21,038,002.77 3.49 Siemens Ag /Nam.* 195,000 EUR 17,647,732.13 23,468,250.00 3.89 Sports Direct International* 2,081,000 GBP 10,627,144.19 6,899,546.04 1.14 Total Sa* 637,000 EUR 25,285,322.91 27,572,545.00 4.58 Unicredit Spa 780,000 EUR 10,728,167.45 12,753,000.00 2.12 Unilever Cert. of Shs 414,000 EUR 15,940,045.70 20,004,480.00 3.32 Volkswagen Ag /Vorzug. 157,000 EUR 17,142,953.79 20,935,950.00 3.47

504,990,910.24 568,058,070.10 94.25



* Titoli parzialmente o totalmente prestati (Cfr. Nota 9). ** Investimento in comparti incrociati, cfr Nota 16, per ulteriori dettagli.


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Fondi d’Investimento Fondo It Per Leff En Sgr S.P.A 7,500 EUR 7,500,000.00 7,382,227.50 1.23

7,500,000.00 7,382,227.50 1.23




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Comunicazioni 13.78 Italia 20.34

Retail 13.76 Germania 17.25

Assicurazioni 9.24 Francia 10.51

Petrolio 8.98 Paesi bassi 10.37

Banche e Istituzioni Finanziarie 6.59 Finlandia 9.15

Tabacco e alcolici 5.32 Spagna 7.38

Industria Automobilistica 4.91 Portogallo 4.74

Chimica 4.61 Irlanda 4.07

Farmaceutica e Cosmetica 4.07 Gran Bretagna 3.64

Beni d’investimento 3.89 Jersey 3.49

Varie 3.49 Svezia 2.37

Fondi d’Investimento 3.42 Lussemburgo 2.19

Cibo e bevande 3.32 Svizzera 1.89

Intrattenimento 2.44 Belgio 1.36

Edifici commerciali 1.91 Cassa e Altre Attività / (Passività) 1.25

Costruzioni e Materiali da Costruzione 1.89

Tecnologia Aerospaziale 1.84

Beni di consumo 1.76

Servizi Pubblici 1.38

Stati, Province e Municipalità 1.08 Educazione Sanitaria e Servizi Sociali 1.07


100.00

100.00

80

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netto


Azioni 21st Century -Shs -A-* 199,451 USD 5,360,946.31 4,955,239.19 1.43 Allergan Plc* 26,165 USD 5,386,217.68 5,575,918.16 1.61 Alphabet Inc -C- 7,670 USD 5,056,758.84 6,110,247.30 1.76 Apple Inc 63,063 USD 6,266,374.46 7,962,070.01 2.29 Arch Coal Inc (New) 28,720 USD 1,925,046.19 1,719,624.79 0.50 Bank of America Corp 331,804 USD 5,636,159.28 7,056,688.91 2.03 Bb&T Corporation* 89,288 USD 3,563,339.70 3,554,456.11 1.02 Benchmark Electronics Inc 136,141 USD 2,725,537.38 3,854,961.25 1.11 Biogen Idec Inc 17,967 USD 4,440,922.71 4,274,151.94 1.23 Biomarin Pharmaceutical Inc* 64,780 USD 5,345,896.19 5,157,639.69 1.49 Bristol Myers Squibb Co 111,153 USD 6,316,315.82 5,429,512.72 1.56 Calatlantic Grp Shs* 148,167 USD 4,817,912.72 4,591,657.27 1.32 Carnival Corp* 96,101 USD 4,731,297.29 5,524,101.49 1.59 Cavium* 55,816 USD 3,230,529.05 3,040,105.27 0.88 Cigna Corp. 43,173 USD 5,473,530.30 6,335,345.38 1.83 Citigroup Inc 62,743 USD 3,584,297.16 3,678,663.84 1.06 Coach Inc* 174,114 USD 5,950,392.32 7,225,876.01 2.08 Comcast Corp -A- 162,990 USD 4,857,048.01 5,561,121.07 1.60 Conagra Foods Inc 101,382 USD 3,705,821.61 3,178,241.71 0.92 Constellium -Shs -A- 240,066 USD 1,154,317.14 1,452,139.39 0.42 Continental Resources Inc 63,663 USD 3,206,137.62 1,804,352.41 0.52 Corecivic Inc /Reit 178,963 USD 4,005,091.65 4,326,991.79 1.25 Csra Inc 142,553 USD 4,225,068.89 3,967,789.73 1.14 Diebold Inc 243,350 USD 5,951,373.44 5,973,349.70 1.72 Eaton Corporation Public Ltd 42,398 USD 2,672,016.44 2,892,816.99 0.83 Flir Systems 112,739 USD 3,282,197.50 3,425,557.76 0.99 Fortinet 134,650 USD 3,869,949.16 4,419,475.76 1.27 General Electric Co 140,836 USD 4,001,271.09 3,334,777.21 0.96 Goldman Sachs Group Inc 41,870 USD 8,625,567.98 8,144,957.48 2.35 Guidewire Software Inc 70,000 USD 3,386,867.95 4,216,446.04 1.21 Halliburton Co 109,943 USD 5,321,125.32 4,116,477.19 1.19 Houghton Miff 266,195 USD 2,865,657.86 2,870,341.46 0.83 Hyatt Hotels Corp -A-* 138,657 USD 7,199,838.91 6,832,567.70 1.97 Infinera Corp 421,742 USD 3,945,798.50 3,944,934.81 1.14 Jpmorgan Chase & Co 86,065 USD 5,469,133.57 6,896,064.70 1.99 Juniper Networks Inc* 163,411 USD 4,347,311.14 3,993,949.93 1.15 Laureate Education Inc 184,921 USD 2,300,976.38 2,841,820.93 0.82 Liberty Global Plc -C- 85,328 USD 2,713,456.06 2,332,363.50 0.67 Live Nation Entertainment Inc* 210,343 USD 5,302,133.35 6,426,276.45 1.85 Merck 78,715 USD 4,125,654.09 4,422,586.44 1.27 Metlife Inc 160,938 USD 7,831,534.31 7,751,322.63 2.23 Mgm Resorts International* 241,926 USD 6,479,626.11 6,636,157.22 1.91 Microsoft Corp* 108,480 USD 5,280,446.86 6,555,208.56 1.89 Mobile Mini Inc. 100,580 USD 2,664,060.65 2,631,991.76 0.76 Mondelez International Inc Wi* 169,103 USD 6,867,184.95 6,402,698.84 1.84 Morgan Stanley* 116,544 USD 4,311,038.55 4,552,643.67 1.31 Mylan Nv 81,927 USD 2,912,770.98 2,788,117.95 0.80 National Instruments Corp 120,109 USD 3,522,840.02 4,234,929.41 1.22 Noble Energy* 177,756 USD 6,241,955.44 4,410,006.84 1.27 Oracle Corp 134,482 USD 5,456,295.98 5,911,218.97 1.70 Orbital Atk Inc 42,240 USD 3,514,875.37 3,642,260.37 1.05 Patterson Uti Energy Inc* 157,980 USD 3,930,563.25 2,796,191.99 0.81 Pfizer Inc Pfizer Inc 156,916 USD 4,558,710.00 4,620,678.92 1.33 Pg&E Corp 85,790 USD 4,906,109.85 4,991,568.60 1.44 Playa Hotels & Resorts Nv 476,840 USD 4,577,122.08 4,995,387.04 1.44 Pnc Financial Services Gp 62,714 USD 6,482,068.13 6,865,168.04 1.98 Propetro Holding Corp 190,034 USD 2,632,661.11 2,325,654.98 0.67 Ptc Inc Shs 92,008 USD 3,903,407.82 4,445,937.55 1.28

* Titoli parzialmente o totalmente prestati (Cfr. Nota 9). Le note allegate formano parte integrante del rendiconto finanziario.

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Rio Tinto Plc /Sadr 98,091 USD 3,617,466.10 3,638,318.76 1.05 Royal Dutch Shell Plc -A- /Adr 113,717 USD 5,946,148.70 5,302,539.87 1.53 Ryder System Inc. 40,332 USD 2,905,186.84 2,545,013.90 0.73 Schneider National Inc 213,518 USD 3,820,995.53 4,187,251.39 1.21 Sealed Air Corp (New) 88,369 USD 3,519,643.65 3,467,516.82 1.00 Seaworld Entertainment* 254,004 USD 4,563,394.52 3,622,902.67 1.04 Shire Plc /Adr 32,180 USD 5,217,264.08 4,662,390.29 1.34 Target Corp* 67,354 USD 4,697,486.95 3,087,525.78 0.89 Toll Brothers 104,014 USD 3,131,329.41 3,602,694.08 1.04 Turning Point Brands Inc 105,853 USD 939,795.03 1,423,498.75 0.41 Union Pacific Corp. 55,473 USD 4,991,594.48 5,296,365.77 1.53 United States Steel 135,791 USD 2,537,023.91 2,635,585.82 0.76 United Technologies Corp 43,266 USD 4,267,612.11 4,631,551.91 1.33 Univar Inc 227,248 USD 3,872,755.53 5,817,166.30 1.68 Verint Systems Inc 132,535 USD 4,195,165.34 4,728,828.35 1.36 Versum Materials Llc 168,043 USD 4,527,174.47 4,787,759.71 1.38 Viacom Inc -B- 202,247 USD 6,981,943.38 5,951,987.19 1.72 Wendy S Co 290,635 USD 3,609,122.97 3,951,739.15 1.14

335,759,661.52 343,319,439.33 98.92




Azioni Blackberry Ltd Shs 224,786 USD 2,208,583.75 1,968,626.40 0.57

2,208,583.75 1,968,626.40 0.57




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Software e Servizi Internet Banche e Istituzioni Finanziarie

Intrattenimento

Semiconduttori elettronici

Holding e Società Finanziarie

Farmaceutica e Cosmetica

Petrolio

Biotecnologia

Arti grafiche e editoria

Trasporti

Computer e materiale d’ufficio

Cibo e bevande

Tecnologia Aerospaziale

Assicurazioni

Tessile Educazione Sanitaria e Servizi Sociali

Comunicazioni

Chimica

Elettronica e apparecchiature elettriche

Miniere e industrie pesanti

Meccanica e macchinari

Servizi Pubblici

Costruzioni e Materiali da Costruzione

Società Immobiliari

Metalli non ferrosi

Pesca e Agricoltura

Imballaggio e Container

Retail

Varie

Cassa e Altre Attività / (Passività)

12.83 Stati Uniti d’America

10.43 Gran Bretagna

9.90 Paesi bassi

6.11 Irlanda

6.01 Panama

5.77 Canada

5.32 Cassa e Altre Attività / (Passività)

4.06

3.86

3.47

3.44

2.76

2.38

2.23

2.08

1.83

1.72

1.68

1.68

1.68

1.59

1.44

1.32

1.25

1.05

1.04

1.00

0.89

0.67

0.51

87.64

4.59

2.66

2.44

1.59

0.57

0.51

100.00

100.00

83

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netto


Fondi d’Investimento Ascendas Real Estate Invest. 106,600 SGD 171,861.70 177,101.20 0.06 Gpt Group /Stapled Security 78,941 AUD 257,700.08 254,220.48 0.08 Ishares /Msci All C As Ex-Jp 7,755 USD 448,564.78 458,555.93 0.15 Ishs Msci Japan Etf Usd /Dis 38,173 USD 1,838,634.43 1,795,372.54 0.58 Nippon Building Fund Inc 63 JPY 327,157.27 282,092.77 0.09 Stockland /Units 693,945 AUD 2,318,397.70 2,043,485.47 0.66

5,362,315.96 5,010,828.39 1.62

Azioni Aac Technologie Shs 27,500 HKD 361,004.77 301,400.00 0.10 Adaro Energy 637,500 IDR 59,820.04 66,243.44 0.02 Agricult Bk China /H- Shares 5,443,125 HKD 2,122,285.94 2,255,461.46 0.73 Aia Group 502,626 HKD 2,796,960.08 3,220,040.52 1.04 Airasia Bhd 1,075,200 MYR 731,635.61 713,216.63 0.23 Aisin Seiki Co Ltd 51,900 JPY 2,071,226.93 2,327,955.69 0.75 Alfresa Hld Corp Tokyo 104,000 JPY 1,735,332.57 1,758,052.16 0.57 Alibaba Group Holding Ltd /Adr* 35,700 USD 3,035,360.33 4,409,687.03 1.43 All Nippon Airways Co Ltd 51,000 JPY 153,374.58 155,317.18 0.05 Amada Co Ltd 15,600 JPY 169,949.81 157,956.97 0.05 Anhui Conch Cement Co Ltd* 56,500 HKD 130,552.37 172,257.84 0.06 Anz Banking Group 29,853 AUD 619,955.31 576,427.66 0.19 Aozora Bank Ltd 113,000 JPY 373,319.72 377,278.21 0.12 Aristocrat Leisure Limited 184,901 AUD 1,588,163.45 2,804,469.67 0.91 Asahi Glass Co. Ltd* 66,800 JPY 1,680,304.63 2,464,774.03 0.80 Asahi Kasei Corp 56,000 JPY 329,959.92 527,490.54 0.17 Asm Pacific Technology Ltd 108,900 HKD 1,468,718.07 1,290,152.58 0.42 Astellas Pharma Inc 98,700 JPY 1,151,413.62 1,058,281.98 0.34 Au Optronics Corp 5,653,000 TWD 2,083,855.06 2,264,168.98 0.73 Auck Int 196,702 NZD 742,787.48 900,010.22 0.29 Autohome Inc /Sadr 2,300 USD 85,895.62 91,459.63 0.03 Baidu Inc -A- /Adr 700 USD 114,606.02 109,758.92 0.04 Bank of Communications Co -H- 1,665,000 HKD 976,495.07 1,030,211.93 0.33 Beijing Enterprises Water Gp 192,000 HKD 142,046.70 130,657.57 0.04 Bendigo and Adelaide Bank 272,872 AUD 2,018,570.43 2,032,689.89 0.66 Bhp Billiton Ltd* 22,795 AUD 427,621.09 356,775.46 0.12 Boc Hong Kong Holdings Ltd 162,500 HKD 556,603.25 681,560.96 0.22 Bridgestone Corp 28,100 JPY 1,096,323.41 1,060,940.89 0.34 Brother Industries Ltd 10,400 JPY 155,224.23 210,365.91 0.07 Canon Inc 26,900 JPY 853,241.90 800,755.91 0.26 Catcher Technology Co Ltd 28,000 TWD 250,967.75 293,276.66 0.09 Cathay Financial Holding 367,000 TWD 523,313.89 529,808.40 0.17 Chailease 895,000 TWD 1,912,658.95 2,186,925.24 0.71 Charoen Pok /Foreign Reg 2,946,100 THB 2,158,031.25 1,884,964.73 0.61 Chimei Innolux Corporation 4,953,000 TWD 2,021,264.41 2,269,240.38 0.73 China Airlines 1,167,000 TWD 364,645.15 310,375.62 0.10 China Citic Bk -H- 843,000 HKD 473,868.48 452,497.52 0.15 China Construction Bank Corp 3,916,462 HKD 2,214,650.35 2,660,786.49 0.86 China Everbright Intl Ltd 105,000 HKD 133,811.38 114,844.18 0.04 China Medical System Holdings 55,000 HKD 91,492.95 83,379.10 0.03 China Merchants Bank /-H- 171,500 HKD 405,223.09 453,540.18 0.15 China Minsheng Bk -H- 259,000 HKD 256,372.71 226,567.68 0.07 China Mobile Ltd 94,099 HKD 885,064.01 875,463.93 0.28 China Petroleum & Chem Corp -H- 1,112,000 HKD 743,760.79 760,471.28 0.25 China Power Intl Develop. Ltd 147,000 HKD 57,026.11 45,725.43 0.01 China Resources Power Holdings 88,000 HKD 147,736.29 151,391.74 0.05 China Shenhua Energy Co -H- 147,500 HKD 283,314.65 287,874.06 0.09 China Steel 532,000 TWD 404,094.45 379,403.98 0.12 China Telecom Corp Ltd 610,000 HKD 278,852.91 254,135.00 0.08

* Titoli parzialmente o totalmente prestati (Cfr. Nota 9).


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China Vanke -H- 847,200 HKD 2,011,037.16 2,102,514.30 0.68 Chn Huarong Asset /H 144a Regs 3,639,000 HKD 1,428,245.15 1,238,184.66 0.40 Chongqing Rural Shs -H- 110,000 HKD 70,786.86 65,097.46 0.02 Chubu Electric Power C. Jpy 500 28,700 JPY 340,740.17 334,145.60 0.11 Cimb Group Holdings Bhd 1,502,200 MYR 2,118,994.30 2,017,448.67 0.65 Cimic Group Ltd 4,313 AUD 116,251.11 112,624.03 0.04 Citic Pacific Ltd 239,000 HKD 330,180.18 315,084.28 0.10 Ck Hutchison Holdings Ltd 278,936 HKD 3,237,426.81 3,069,667.82 0.99 Clp Holdings Ltd 89,500 HKD 739,067.76 830,163.85 0.27 Cn Cinda Am /H 258,000 HKD 78,620.03 84,308.90 0.03 Cochlear Limited 16,539 AUD 1,665,546.93 1,728,511.87 0.56 Commonwealth Bank of Australia 76,156 AUD 4,120,112.61 4,239,936.01 1.37 Computershare Limited Cpu 206,911 AUD 2,051,970.06 1,967,004.63 0.64 Crown Ltd 15,998 AUD 135,131.43 132,079.82 0.04 Csl Ltd 20,023 AUD 1,512,466.95 1,858,125.44 0.60 Daicel Chemical Industries Co 12,300 JPY 130,467.96 134,042.04 0.04 Daiichi Sankyo Co Ltd* 26,000 JPY 510,214.00 536,867.11 0.17 Daikin Industries Ltd 10,200 JPY 840,204.64 912,647.56 0.30 Daiwa H. Industr. Co Ltd 87,800 JPY 2,622,138.03 2,628,687.70 0.85 Electr.Generating /Foreign Reg 5,700 THB 33,402.87 31,469.71 0.01 First Financial Holding Comp. 4,073,295 TWD 1,910,163.06 2,388,500.45 0.77 Formosa Chemicals & Fiber Co 132,000 TWD 294,212.80 363,238.90 0.12 Formosa Petrochemical Corp 693,000 TWD 1,770,409.64 2,096,706.22 0.68 Formosa Plastics 182,000 TWD 501,018.24 486,145.39 0.16 Fortescue Metals Group Ltd* 557,026 AUD 988,631.26 1,954,872.17 0.63 Fujitsu Ltd 87,000 JPY 425,846.43 561,803.16 0.18 Galaxy Entertainment Group 227,000 HKD 1,014,023.47 1,208,272.62 0.39 Geely Automobile Hld Ltd 240,000 HKD 183,523.34 453,851.80 0.15 Genting Singapore Plc 270,700 SGD 181,205.15 186,957.03 0.06 Global Telecom Inc 1,480 PHP 56,890.01 52,649.27 0.02 Glow Energy Public Co Ltd 299,360 THB 628,154.45 608,202.77 0.20 Golden Agri-Resources Ltd 312,700 SGD 87,828.77 74,641.95 0.02 Goodman Group 414,057 AUD 2,169,262.68 2,190,822.82 0.71 Guangzhou Auto 92,000 HKD 139,716.83 141,536.72 0.05 Haitan Hldgs Ltd 368,000 HKD 716,462.49 905,008.52 0.29 Hana Financial Group Inc 80,958 KRW 1,970,602.55 2,806,844.45 0.91 Hanssem Co Ltd 501 KRW 79,260.76 70,631.03 0.02 Hanwha Chemical Corp 4,988 KRW 98,652.16 115,417.96 0.04 Hap Seng Consolidated Bhd 52,400 MYR 99,269.68 98,714.70 0.03 Hartalega Holdings Bhd 27,600 MYR 32,847.54 41,573.28 0.01 Harvey Norman Holdings Ltd 25,260 AUD 86,478.27 64,873.76 0.02 Henderson Land Dev. 141,790 HKD 753,100.66 693,417.02 0.22 Hikari Tsushin Inc. 1,000 JPY 82,607.59 92,205.53 0.03 Hirose Electric Co.Ltd 1,400 JPY 175,080.48 174,956.49 0.06 Hitachi Ltd 225,000 JPY 949,705.65 1,210,022.10 0.39 Hkt Ltd - Stapled 166,000 HKD 218,204.24 190,883.67 0.06 Hon Hai Precision Ind. Co Ltd 1,402,000 TWD 3,335,786.05 4,726,600.81 1.53 Honam Petrochemical Co Ltd 5,046 KRW 1,219,097.72 1,329,981.74 0.43 Honda Motor Co Ltd* 91,875 JPY 2,464,549.01 2,195,966.04 0.71 Hong Leong Bank Bhd 28,000 MYR 88,725.67 89,494.97 0.03 Hoya Corp 17,200 JPY 657,169.69 782,636.20 0.25 Hua Nan Financial Holding Co 305,000 TWD 157,632.97 155,117.07 0.05 Huaneng Power Intl -H- 186,000 HKD 139,011.71 113,206.92 0.04 Huaneng Renw -H- 176,000 HKD 55,631.63 47,631.08 0.02 Hynix Semiconductor Inc 71,211 KRW 2,632,464.05 3,677,451.66 1.19 Hysan Development Co 29,000 HKD 120,105.29 121,306.76 0.04 Hyundai Fire & Marine Ins Co 5,383 KRW 156,654.73 162,296.48 0.05 Hyundai Robotics Co Ltd 296 KRW 94,357.45 87,655.91 0.03 Hyundai Steel Co 26,123 KRW 1,211,227.05 1,244,954.35 0.40 Ind & Com Boc -H- 3,343,481 HKD 1,678,858.51 1,978,655.61 0.64 Industrial Bank of Korea 11,285 KRW 118,887.22 123,212.97 0.04


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Itochu Corp 224,600 JPY 2,582,162.67 2,924,190.05 0.95 Itochu Techno-Solutions Corp. 1,400 JPY 27,476.86 42,920.04 0.01 Japan Tobacco Inc* 47,700 JPY 1,773,918.01 1,468,672.67 0.47 Jardine Cycle & Carriage Ltd 4,300 SGD 120,927.16 121,390.83 0.04 Jardine Matheson Hldgs 11,800 USD 587,542.08 664,118.52 0.21 Jd. Com Inc /Adr 86,000 USD 2,129,423.59 2,956,886.12 0.96 Jiangsu Expressway Co H 408,000 HKD 537,660.61 504,896.66 0.16 Jsr Corp Tokyo 8,400 JPY 134,139.80 126,925.36 0.04 Jtekt Corp 124,800 JPY 1,764,874.32 1,598,553.75 0.52 Kajima Corp 120,000 JPY 667,744.78 887,419.75 0.29 Kamigumi Co Ltd 10,000 JPY 85,249.27 91,893.50 0.03 Kansai Electr. Power C. Jpy 500 179,700 JPY 2,203,340.84 2,168,592.23 0.70 Kao Corp 50,300 JPY 2,499,134.85 2,617,963.15 0.85 Kb Financial Group Inc 17,994 KRW 467,215.76 795,506.11 0.26 Kddi Corp 157,600 JPY 3,844,573.99 3,657,486.15 1.18 Kerry Properties Ltd 214,500 HKD 645,515.82 638,313.32 0.21 Keyence Corp 3,700 JPY 1,339,128.81 1,424,099.64 0.46 Kirin Holdings Co Ltd 39,000 JPY 721,648.55 696,385.80 0.23 Koito Manufacturing Co Ltd 9,400 JPY 353,675.05 423,833.42 0.14 Konami Corp 4,100 JPY 163,773.15 199,575.83 0.06 Krung Thai Bank /For.Reg. 200,400 THB 104,052.17 97,198.52 0.03 Kt Corporation 24,840 KRW 557,948.50 620,453.42 0.20 Kuala Lumpur Kepong Bhd 20,000 MYR 101,068.48 101,561.53 0.03 Kyocera Corp. 14,300 JPY 765,116.94 725,754.28 0.23 Kyushu Electr. Power Co /Jpy 500 52,000 JPY 560,391.35 553,295.60 0.18 Kyushu Railway Company 49,800 JPY 1,545,544.74 1,416,010.20 0.46 Largan Precision Co Ltd 400 TWD 34,162.05 55,900.64 0.02 Lend Lease Group 25,004 AUD 237,415.08 279,895.63 0.09 Lg Chem Ltd /Pfd Shas/I01 334 KRW 49,638.84 51,693.72 0.02 Lg Display Co Ltd 62,451 KRW 1,466,176.23 1,775,224.56 0.57 Lg Electronics Inc 30,136 KRW 1,363,905.81 1,851,825.10 0.60 Lg Household & Healthcare Pref 90 KRW 36,991.29 42,891.66 0.01 Lg Telecom Ltd 182,671 KRW 1,658,212.99 2,183,404.47 0.71 Lion Corp. 10,300 JPY 160,837.00 186,890.16 0.06 Lite-on Technology Corpor. 334,652 TWD 402,933.81 482,145.90 0.16 Macquarie Group Ltd* 45,650 AUD 2,839,578.82 2,716,166.86 0.88 Malayan Banking Berhad 546,424 MYR 1,065,830.35 1,074,001.52 0.35 Malaysia Airports Holdings 265,100 MYR 438,508.65 463,161.38 0.15 Marubeni Corp. 75,300 JPY 391,449.37 426,335.45 0.14 Mass Transit Railway Corp* 66,500 HKD 328,000.60 328,202.03 0.11 Medibank Private Ltd 120,413 AUD 250,732.62 226,675.09 0.07 Mediceo Paltac Holdings Co Ltd 75,100 JPY 1,089,174.01 1,217,376.70 0.39 Mirvac Group 165,342 AUD 249,758.49 236,774.64 0.08 Misc Bhd /Local 47,700 MYR 74,804.22 72,628.33 0.02 Mitsubishi Chemical Hldgs Corp 325,600 JPY 2,207,116.84 2,362,400.62 0.76 Mitsubishi Corp 69,000 JPY 1,137,715.97 1,268,130.31 0.41 Mitsubishi Estate Co. 56,000 JPY 995,184.57 914,535.35 0.30 Mitsubishi Motor Corp. 394,100 JPY 2,292,480.39 2,274,980.41 0.74 Mitsubishi Tanabe Pharma Corp 108,500 JPY 1,924,227.88 2,197,221.97 0.71 Mitsubishi Ufj Financial Group 494,400 JPY 1,987,223.95 2,911,051.31 0.94 Mitsui & Co Ltd 170,500 JPY 1,922,268.99 2,135,375.23 0.69 Mitsui Chemicals Inc. 443,000 JPY 2,045,857.19 2,056,175.59 0.66 Mixi Inc 43,400 JPY 1,570,832.94 2,115,968.77 0.68 Mizuho Financial Group Inc 1,051,200 JPY 1,348,662.71 1,684,322.69 0.54 Momo Inc /Sadr 40,600 USD 1,394,693.34 1,315,486.98 0.43 Msig Holdings 82,900 JPY 2,349,159.64 2,440,596.21 0.79 Nabtesco Corp 5,000 JPY 135,975.06 127,348.17 0.04 Namco Bandai Hldg 9,000 JPY 202,160.75 268,893.80 0.09 Nanya Technology Co Ltd 490,000 TWD 750,800.42 773,734.01 0.25 National Australia Bank Ltd 122,025 AUD 2,566,283.61 2,427,538.77 0.79 Netease Inc /Adr 3,500 USD 939,894.89 922,420.44 0.30


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New Orientaleducat. Tech /Adr 6,200 USD 209,474.73 383,131.41 0.12 Nexon Co Ltd 7,500 JPY 110,457.91 129,883.43 0.04 Ngk Spark Plug Co Ltd 7,900 JPY 153,764.01 147,225.40 0.05 Nidec Corp 10,200 JPY 904,076.10 915,830.29 0.30 Nine Dragons Paper Hldgs Ltd 1,265,000 HKD 1,469,025.34 1,477,354.10 0.48 Nippon Express Co Ltd 120,000 JPY 582,479.88 658,076.04 0.21 Nippon Meat Packers 55,000 JPY 1,447,922.57 1,465,186.49 0.47 Nippon Steel Corp 10,500 JPY 238,810.78 207,883.69 0.07 Nippon Tel&Tel 84,852 JPY 3,123,307.24 3,514,763.53 1.14 Nissan Motor Co Ltd 101,000 JPY 849,574.01 880,851.47 0.28 Nitori Co Ltd 2,600 JPY 350,754.12 305,042.74 0.10 Nomura Holdings Inc 162,700 JPY 918,475.54 854,673.37 0.28 Obayashi Corp 242,900 JPY 2,078,821.52 2,503,051.81 0.81 Obic Co Ltd Tokyo 2,900 JPY 152,079.87 156,094.14 0.05 Orix Corp 137,000 JPY 1,864,520.28 1,859,556.26 0.60 Otsuka Corp 24,500 JPY 1,300,177.88 1,332,104.73 0.43 Oversea - Chinese Bk Corp 140,100 SGD 955,877.04 962,239.94 0.31 Panasonic Corp 96,300 JPY 1,024,838.15 1,144,855.73 0.37 Phison Electronics Corp 7,000 TWD 58,887.97 75,739.60 0.02 Picc Grp Cn -H- 307,000 HKD 116,279.86 113,076.66 0.04 Ping An Insur. (Grp) Co -H- 534,000 HKD 2,638,657.18 3,085,228.77 1.00 Pola Orbis Holdings Inc 4,400 JPY 89,706.22 101,666.35 0.03 Posco 3,324 KRW 729,305.04 730,941.98 0.24 Powertech Technology Inc 30,000 TWD 68,394.43 81,171.19 0.03 Ppb Group Bhd 20,600 MYR 72,746.32 72,149.50 0.02 President Chain Store Corp. 25,000 TWD 195,770.55 197,020.94 0.06 Pt Bank Central Asia Tbk 141,600 IDR 123,444.53 169,022.88 0.05 Pt Bank Rakyat Indonesia 733,900 IDR 680,071.39 736,058.53 0.24 Pt Gudang Garam Tbk /Demat 297,300 IDR 1,412,750.00 1,530,954.52 0.50 Ptt Expl.Prod.Public /For.Reg 62,500 THB 131,269.47 139,073.12 0.05 Ptt Global Public Co Forei Reg 105,500 THB 201,316.82 186,443.43 0.06 Ptt Plc Co Ltd /Foreign Reg 181,700 THB 1,717,356.26 1,734,445.73 0.56 Qantas Airways Ltd 32,441 AUD 105,461.04 124,756.35 0.04 Qbe Insurance Group 61,063 AUD 526,803.78 484,842.22 0.16 Ramsay Health Care Ltd Rhc 6,257 AUD 311,987.64 309,610.99 0.10 Recruit Holdings Co.Ltd. 49,800 JPY 610,808.66 750,155.20 0.24 Resona Holdings Inc 36,000 JPY 174,531.91 173,692.76 0.06 Ryman Healthcare 86,802 NZD 501,425.09 461,778.17 0.15 Samsung Electr. /Pfd N - Vot. 774 KRW 777,821.16 1,104,232.76 0.36 Samsung Electronics Co Ltd 5,700 KRW 6,106,555.59 10,381,115.63 3.36 Seek Ltd 14,874 AUD 166,477.45 169,100.07 0.05 Seibu Holdings Inc 8,000 JPY 117,238.60 129,618.20 0.04 Sekisui House Ltd 25,900 JPY 394,282.39 399,939.94 0.13 Seven & I Holdings Co Ltd 32,400 JPY 1,198,619.22 1,169,709.10 0.38 Shangdong Weigao Med.Poly -H- 84,000 HKD 54,973.68 57,822.98 0.02 Shanghai Industrial Holdings 288,000 HKD 811,977.25 747,076.72 0.24 Shanghai Pharmaceuticals -H- 32,700 HKD 58,420.92 85,375.14 0.03 Sharp Corp. 578,000 JPY 1,958,278.04 1,880,197.19 0.61 Shimadzu Corp 7,400 JPY 114,702.68 123,418.12 0.04 Shimamura Corp. 1,000 JPY 113,452.23 107,339.10 0.03 Shimao Property Hld Ltd 138,000 HKD 217,765.29 207,036.20 0.07 Shin-Etsu Chemical Co 17,100 JPY 1,024,450.10 1,358,615.77 0.44 Shinhan Financial Group 18,935 KRW 731,752.86 715,240.70 0.23 Shionogi & Co Ltd 52,500 JPY 2,329,783.90 2,563,325.52 0.83 Siam Cement Public Co /Foreign 17,800 THB 215,087.75 231,448.62 0.07 Singapore Technologies Eng. 293,800 SGD 718,285.09 688,213.85 0.22 Sinopec Shanghai Petrochem. -H- 838,000 HKD 394,196.77 393,351.70 0.13 Sinopharm Group Co -H- 51,600 HKD 198,162.46 204,543.25 0.07 Sk Telecom Co Ltd 908 KRW 158,470.79 185,057.83 0.06 Softbank 44,000 JPY 1,917,357.44 3,122,413.22 1.01 Sonic Healthcare 17,357 AUD 215,153.11 282,631.91 0.09 Sony Corp Jpy 50 81,700 JPY 2,319,313.77 2,731,578.78 0.88 Stanley Electric Co Ltd 6,300 JPY 172,081.50 166,601.82 0.05


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Sumitomo Chemical Co Ltd 138,000 JPY 687,492.33 695,426.30 0.22 Sumitomo Corp. 65,200 JPY 764,948.80 743,591.60 0.24 Sumitomo Electric Industries 33,300 JPY 526,950.73 449,396.66 0.15 Sumitomo Mitsui Financial Gr. 58,000 JPY 1,592,005.09 1,981,264.44 0.64 Sun Art Retail Group Ltd* 692,000 HKD 495,269.14 483,344.98 0.16 Sun Hung Kai Properties Ltd 215,000 HKD 2,833,394.73 2,769,252.87 0.90 Sunny Optical Technology 28,000 HKD 190,776.04 220,098.36 0.07 Suzuki Motor Corp 67,300 JPY 1,884,609.39 2,798,219.51 0.90 Sydney Airport-Stapled Security* 48,238 AUD 247,383.50 229,936.50 0.07 Taiheiyo Cement Corp. Tokyo 41,000 JPY 125,916.99 130,811.72 0.04 Taisei Corp 313,000 JPY 1,740,559.40 2,505,135.41 0.81 Taiwan Cooperative Holdings 339,000 TWD 158,496.26 157,756.50 0.05 Taiwan Semiconduct. Manuf /Sadr 47,461 USD 1,077,806.25 1,454,577.51 0.47 Taiwan Semiconductor Manufact. 516,037 TWD 2,429,203.91 3,100,287.37 1.00 Takashimaya Co Ltd 24,000 JPY 199,429.59 200,137.49 0.06 Tdk Corp 5,500 JPY 250,989.63 317,063.78 0.10 Techtronic Industries Co Ltd 60,500 HKD 233,582.15 243,899.30 0.08 Teijin Ltd 101,800 JPY 2,014,517.83 1,716,097.87 0.56 Tenaga Nasional 795,900 MYR 2,359,884.61 2,296,977.59 0.74 Tencent Holdings Ltd 179,800 HKD 3,101,526.23 5,637,231.08 1.82 Thai Oil Public Co /For. Reg. 981,400 THB 1,688,231.02 2,000,217.43 0.65 Tohoku Electric Power Jpy 500 21,300 JPY 231,025.33 258,374.41 0.08 Tokio Marine Holdings Inc 29,600 JPY 958,315.77 1,073,933.91 0.35 Tokyo Electron Co Ltd 6,900 JPY 378,565.78 815,995.57 0.26 Tokyo Tatemono Co Ltd 9,400 JPY 112,507.19 107,938.20 0.03 Tokyu Corp 90,000 JPY 627,678.97 601,676.21 0.19 Toppan Printing Co Ltd 36,000 JPY 343,125.42 345,981.37 0.11 Tosoh Corp 25,000 JPY 205,621.30 224,468.21 0.07 Toyoda Gosei Co Ltd 53,000 JPY 1,236,845.39 1,107,613.12 0.36 Toyota Motor Corp 108,533 JPY 4,843,285.37 4,989,278.60 1.61 Toyota Tsusho Corp. 7,300 JPY 211,165.15 191,622.91 0.06 Transurban Group 90,491 AUD 770,021.59 720,935.03 0.23 Treasury Wine Estates 32,101 AUD 277,018.65 284,018.64 0.09 Utd Overseas Bk /Local 58,500 SGD 873,487.30 860,929.31 0.28 Weichai Power Co Ltd /-H-* 2,444,000 HKD 1,526,302.06 1,877,232.39 0.61 Wesfarmers Ltd 49,660 AUD 1,387,095.83 1,339,491.72 0.43 West Japan Railway Co 7,300 JPY 469,778.66 451,922.56 0.15 Westpac Banking Corp 116,439 AUD 2,680,865.79 2,388,433.02 0.77 Wh Group Ltd 2,658,500 HKD 1,835,287.85 2,352,467.43 0.76 Wharf Hld. The 286,000 HKD 2,360,369.22 2,077,930.66 0.67 Wheelock & Co 103,000 HKD 539,695.04 681,260.57 0.22 Wilmar International Ltd 833,800 SGD 1,983,546.16 1,777,994.84 0.58 Woori Bank 169,223 KRW 1,239,385.88 2,392,190.45 0.77 Yangzijang Shipbuilding Ltd 86,300 SGD 64,851.16 65,370.46 0.02 Yanzhou Coal Mining Co H 82,000 HKD 70,457.64 64,457.38 0.02 Yuanta Finanical Holding Co 453,000 TWD 176,254.46 174,911.37 0.06 Yue Yuen Ind Hld Ltd 32,500 HKD 124,471.66 118,246.72 0.04 Yum China Holdings Inc 75,600 USD 2,288,937.76 2,613,226.97 0.85 Yy Incorp /Sadr* 34,500 USD 1,598,045.61 1,755,093.36 0.57 Zhejiang Expressway Co Ltd -H- 766,000 HKD 766,684.03 877,383.93 0.28

266,936,713.87 300,407,033.36 97.14




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Azioni Bgp Holdings 1,169,623 EUR 3,381.74 - -

3,381.74 - -

Totale - Altri valori mobiliari e strumenti del mercato monetario 3,381.74 - -


Buoni del Tesoro Usa 0% 17-21.09.17 Tb 235,000 USD 209,115.16 205,575.50 0.07

209,115.16 205,575.50 0.07




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Semiconduttori elettronici 15.08 Giappone 38.40

Holding e Società Finanziarie 12.07 Australia 11.17

Banche e Istituzioni Finanziarie 9.84 Corea del Sud 10.50

Software e Servizi Internet 6.57 Isole Cayman 9.35

Industria Automobilistica 5.71 Taiwan 7.37

Costruzioni e Materiali da Costruzione 4.36 Cina 7.01

Farmaceutica e Cosmetica 4.06 Hong Kong 5.04

Comunicazioni 3.76 Malesia 2.26

Società Immobiliari 3.66 Tailandia 2.24

Chimica 3.10 Stati Uniti d’America 1.65

Altri servizi 3.05 Singapore 1.51

Trasporti 2.82 Bermuda 0.98

Edifici commerciali 2.49 Indonesia 0.81

Servizi Pubblici 2.42 Nuova Zelanda 0.44

Assicurazioni 2.36 Isola di Man 0.06

Petrolio 2.25 Mauritius 0.02

Meccanica e macchinari 1.85 Filippine 0.02

Cibo e bevande 1.84 Cassa e Altre Attività / (Passività) 1.17



Miniere e industrie pesanti 1.06

Tabacco e alcolici 1.06

Intrattenimento 0.95

Computer e materiale d’ufficio 0.91

Varie 0.71

Metalli Preziosi 0.63

Biotecnologia 0.60

Industrie cartarie e prodotti forestali 0.52

Educazione Sanitaria e Servizi Sociali 0.46

Retail 0.43

Ruote e Gomma 0.35

Elettronica e apparecchiature elettriche 0.32



Arti grafiche e editoria 0.11

Fotografia e ottica 0.09

Pesca e Agricoltura 0.07 Tessile 0.04


100.00

100.00

90

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netto


Fondi d’Investimento Ishares /Msci Emerg. Mkt Indx 99,203 USD 3,603,674.93 3,599,554.81 0.70

3,603,674.93 3,599,554.81 0.70

Azioni Adani Port - Shs 87,205 INR 351,311.18 429,337.30 0.08 Adaro Energy 2,021,900 IDR 188,774.29 210,098.22 0.04 Aes Gener Shs 366,687 CLP 116,085.52 113,084.25 0.02 Afk Sistema /Sgdr 103,273 USD 637,018.38 378,435.29 0.07 Agricult Bk China /H- Shares 10,398,000 HKD 3,942,733.38 4,308,607.33 0.85 Airasia Bhd 1,644,600 MYR 786,524.64 1,090,918.96 0.21 Akbank 263,572 TRY 633,130.51 642,746.54 0.13 Alibaba Group Holding Ltd /Adr* 135,800 USD 11,035,450.62 16,774,103.62 3.29 Alliance Global Group Inc 264,500 PHP 78,104.65 65,699.56 0.01 Ambev Sa 18,300 BRL 89,687.06 88,641.45 0.02 America Movil Sab De Cv -L- 1,994,900 MXN 1,134,478.96 1,410,547.32 0.28 Anhui Conch Cement Co Ltd* 149,000 HKD 383,609.16 454,272.91 0.09 Arca Continental Sab De Cv 50,700 MXN 331,469.39 334,891.53 0.07 Arcelik As 132,691 TRY 796,642.03 860,459.19 0.17 Au Optronics Corp 9,560,000 TWD 3,526,446.56 3,829,020.95 0.75 Autohome Inc /Sadr 77,600 USD 3,130,740.46 3,085,768.39 0.61 Baidu Inc -A- /Adr 15,100 USD 2,501,514.46 2,367,656.70 0.46 Banco Bradesco Sa 115,788 BRL 807,251.76 845,415.22 0.17 Bank of China Ltd -H- 9,536,000 HKD 3,423,196.41 4,101,339.80 0.81 Bank of Communications Co -H- 4,974,000 HKD 2,838,313.98 3,077,642.11 0.60 Bharat Petrol. /Dematerialised 236,122 INR 2,105,920.37 2,047,386.72 0.40 Bharti Infratel Ltd Shs 173,571 INR 926,380.80 881,612.55 0.17 Bid Corporation Limited 82,821 ZAR 1,656,189.32 1,657,443.17 0.33 Bumrundgrad Hospital /For. 24,300 THB 118,800.83 107,516.34 0.02 Cadila Healthcare Ltd 24,521 INR 152,612.91 174,627.38 0.03 Catcher Technology Co Ltd 60,000 TWD 552,394.04 628,449.98 0.12 Cathay Financial Holding 2,601,000 TWD 3,418,597.11 3,754,854.63 0.74 Ccc Shs 3,328 PLN 175,620.56 177,000.25 0.03 Cencosud Sa 1,380,060 CLP 3,266,897.13 3,215,221.61 0.63 Chailease 560,000 TWD 1,242,352.34 1,368,355.46 0.27 Charoen Pok /Foreign Reg 4,963,200 THB 3,128,739.83 3,175,539.51 0.62 Cheil Worldwide Inc 54,256 KRW 835,418.86 764,901.63 0.15 Chimei Innolux Corporation 8,197,000 TWD 3,466,283.59 3,755,494.32 0.74 China Citic Bk -H- 1,076,000 HKD 592,970.98 577,565.05 0.11 China Communications Constr -H- 532,000 HKD 687,622.18 600,994.30 0.12 China Construction Bank Corp 10,655,000 HKD 6,066,861.09 7,238,849.80 1.42 China Everbright Intl Ltd 486,000 HKD 600,176.25 531,564.49 0.10 China Medical System Holdings 1,256,000 HKD 2,115,680.22 1,904,075.41 0.37 China Minsheng Bk -H-* 753,000 HKD 766,130.63 658,708.35 0.13 China Mobile Ltd 463,322 HKD 4,570,207.29 4,310,584.59 0.85 China Railway Group Ltd -H- 1,479,000 HKD 1,035,903.08 1,021,419.22 0.20 China Steel 953,000 TWD 685,458.68 679,646.61 0.13 China Telecom Corp Ltd 8,316,000 HKD 3,912,746.26 3,464,568.30 0.68 China Vanke -H- 1,462,700 HKD 2,914,712.66 3,630,013.76 0.71 Chn Huarong Asset /H 144a Regs 4,313,000 HKD 1,668,503.06 1,467,515.93 0.29 Cimb Group Holdings Bhd 2,578,600 MYR 3,611,603.38 3,463,049.63 0.68 Citic Pacific Ltd 693,000 HKD 960,418.49 913,612.57 0.18 Cn Cinda Am /H 5,191,000 HKD 1,629,621.49 1,696,308.17 0.33 Coca-Cola Femsa Sab De Cv L 80,500 MXN 557,072.14 599,488.93 0.12 Copel. Cia Paran. En. Pref. B 139,700 BRL 1,168,238.29 906,549.20 0.18 Country Garden Holdings 654,000 HKD 585,605.08 664,640.90 0.13 Credicorp 8,300 USD 1,290,777.91 1,305,283.60 0.26 Dmci Holdings Inc 473,300 PHP 123,359.22 115,919.46 0.02 Dp World 20,288 USD 333,349.35 372,074.13 0.07



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Dubai Islamic Bank 869,261 AED 1,162,456.09 1,182,355.60 0.23 Edp Energias Do Brasil Sa 491,000 BRL 1,739,562.95 1,843,152.68 0.36 Emaar Properties 429,916 AED 783,344.03 798,153.21 0.16 Embotelladora Andina -B- /Pref 123,594 CLP 413,646.40 458,529.21 0.09 Endesa.Empr.Nac.Electr. 1,031,689 CLP 745,236.90 681,781.04 0.13 Engie Brasil Energia Sa 73,500 BRL 815,624.02 659,539.19 0.13 Eregli Demir Celik 169,183 TRY 220,892.11 296,797.50 0.06 First Financial Holding Comp. 3,844,205 TWD 1,769,208.22 2,254,166.56 0.44 Folli Follie Gr Shs 8,456 EUR 203,368.94 180,958.40 0.04 Fomento Eco. Mexicano Sab /Units 84,700 MXN 677,063.45 733,275.93 0.14 Ford Otomotiv Sanayi As 16,841 TRY 163,459.12 180,030.69 0.04 Formosa Chemicals & Fiber Co 353,000 TWD 785,606.79 971,388.88 0.19 Formosa Petrochemical Corp 971,000 TWD 2,582,108.09 2,937,809.15 0.58 Formosa Plastics 912,000 TWD 2,329,379.01 2,436,069.21 0.48 Fosun International Ltd 316,500 HKD 443,493.00 433,605.00 0.09 Fuyao Gr Gl 58,000 HKD 171,123.36 194,742.13 0.04 Gazprom Oao /Sadr Regs 759,160 USD 3,529,638.80 2,634,132.79 0.52 Geely Automobile Hld Ltd 2,950,000 HKD 1,468,387.42 5,578,595.08 1.10 Genting Berhad 1,071,600 MYR 2,048,031.11 2,058,122.27 0.40 Global Telecom Inc 19,835 PHP 757,985.61 705,606.99 0.14 Godrej Consumer Pr /Demat 14,332 INR 367,174.34 188,155.89 0.04 Grasim Industries Ltd 34,309 INR 538,924.72 577,903.63 0.11 Growthpoint Props 1,686,002 ZAR 3,051,189.79 2,760,432.03 0.54 Gruma Sa De Cv B 141,640 MXN 1,857,996.50 1,623,533.12 0.32 Grupo Aeroport. Del Pacifico B 337,800 MXN 2,821,476.90 3,343,743.57 0.66 Grupo Aeroportuario -B- 25,270 MXN 433,987.01 468,626.63 0.09 Grupo Aval /Sadr 31,368 USD 204,195.94 227,690.93 0.04 Grupo Aval Shs/Pfd 593,414 COP 203,388.50 213,490.14 0.04 Grupo Fin. Banort. Sab De Cv -O- 307,700 MXN 1,378,450.89 1,719,528.37 0.34 Grupo Financ -B- 222,100 MXN 369,466.99 377,437.98 0.07 Grupo Mexico Sab De Cv /-B- 458,800 MXN 1,346,321.17 1,134,757.19 0.22 Grupo Televisa Sa /Cert. Par. 277,800 MXN 1,309,400.88 1,189,991.21 0.23 Guangzhou Auto 2,640,000 HKD 2,614,397.48 4,061,488.52 0.80 Guangzhou R&F Prop. -H- /New 1,247,600 HKD 1,435,571.66 1,700,806.04 0.33 Haier Electronics Group Co Ltd 460,000 HKD 1,005,759.57 1,048,611.48 0.21 Haitan Hldgs Ltd 585,000 HKD 1,188,052.49 1,438,668.44 0.28 Hana Financial Group Inc 93,682 KRW 2,223,821.07 3,247,990.34 0.64 Hanssem Co Ltd 4,360 KRW 772,473.80 614,673.24 0.12 Hanwha Chemical Corp 43,276 KRW 957,806.76 1,001,368.78 0.20 Hap Seng Consolidated Bhd 158,800 MYR 285,904.84 299,158.29 0.06 Havells India Ltd 29,279 INR 204,676.57 182,643.77 0.04 Hcl Technologies /Demat. 213,817 INR 2,256,568.67 2,467,240.89 0.48 Hellenic Telecom 10,766 EUR 91,315.21 113,473.64 0.02 Hengan Intl Group 88,500 HKD 661,525.57 572,435.41 0.11 Hero Motocorp Ltd 6,149 INR 288,700.18 308,642.30 0.06 Highwealth Construction Corp 99,000 TWD 142,390.73 143,774.14 0.03 Hindustan Petr. /Dematerialised 496,736 INR 3,088,269.06 3,437,831.23 0.67 Hindustan Unilever Ltd 104,035 INR 1,390,122.73 1,523,116.58 0.30 Hon Hai Precision Ind /Gdr 106,786 USD 452,006.24 720,831.24 0.14 Hon Hai Precision Ind. Co Ltd 2,604,583 TWD 6,177,381.70 8,780,901.66 1.72 Honam Petrochemical Co Ltd 13,146 KRW 3,166,128.56 3,464,910.82 0.68 Housing Devt Fin Corp 45,098 INR 870,290.30 987,659.31 0.19 Hua Nan Financial Holding Co 825,000 TWD 425,788.01 419,578.97 0.08 Hynix Semiconductor Inc 145,746 KRW 4,879,488.22 7,526,560.07 1.48 Hypermarcas Sa 42,000 BRL 280,190.83 308,881.23 0.06 Hyprop Inv /Reit 130,718 ZAR 1,076,904.28 1,020,704.06 0.20 Hyundai Fire & Marine Ins Co 50,775 KRW 1,385,693.37 1,530,857.13 0.30 Hyundai Robotics Co Ltd 796 KRW 251,273.09 235,723.32 0.05 Hyundai Steel Co 59,725 KRW 2,855,626.54 2,846,338.42 0.56 Ind & Com Boc -H- 11,826,000 HKD 5,940,220.54 6,998,568.64 1.37 Indian Oil Corp/Dematerialised 585,289 INR 3,436,911.19 3,057,366.05 0.60 Indorama Ventures /Foreign Reg 125,294 THB 100,591.30 122,833.81 0.02 Industrial Bank of Korea 31,006 KRW 327,446.68 338,532.68 0.07


UBI SICAV


Prospetto degli investimenti al 30 giugno 2017 (segue) (espressi in EURO) Descrizione Valore nominale/ Divisa Costo Valore di Mercato % del

Quantità patrimonio netto

Industries of Qatar 18,169 QAR 483,176.54 413,345.61 0.08 Intl Container Terminal Serv. 59,200 PHP 97,300.71 100,568.34 0.02 Investimentos Itau /Pref 1,137,700 BRL 3,294,936.65 2,714,761.75 0.53 Ioi Properties Group Bhd /Reit 601,400 MYR 328,256.99 270,044.26 0.05 Itau Holding /Pref 718,960 BRL 5,877,044.55 6,989,715.47 1.37 Jd. Com Inc /Adr* 183,300 USD 4,598,366.11 6,302,293.33 1.24 Jg Summit Holdings Inc 355,050 PHP 522,317.21 499,545.73 0.10 Jiangsu Expressway Co H 146,000 HKD 176,371.07 180,673.80 0.04 Jsc Surgutneftegaz /Sadr 52,553 USD 259,199.12 197,643.88 0.04 Jsw Steel Ltd 101,032 INR 183,338.54 278,676.72 0.05 Jumbo Sa 109,525 EUR 1,718,609.43 1,752,400.00 0.34 Kb Financial Group Inc 51,278 KRW 1,393,357.08 2,266,975.79 0.44 Kia Motors Corp. 32,511 KRW 969,915.05 951,554.53 0.19 Klabin Riocell Sa 67,300 BRL 270,762.59 288,955.53 0.06 Koc Hld As 744,317 TRY 2,919,954.85 2,996,752.34 0.59 Krung Thai Bank /For.Reg. 4,466,400 THB 2,337,042.72 2,166,304.63 0.43 Kt Corporation 71,872 KRW 1,628,503.46 1,795,218.53 0.35 Kt&G Corporation 48,938 KRW 3,755,137.79 4,387,044.80 0.86 Kuala Lumpur Kepong Bhd 317,200 MYR 1,636,103.21 1,610,765.79 0.32 Larsen & Toubro Ltd /Demat. 162,130 INR 4,012,492.60 3,710,425.34 0.73 Lg Chem Ltd /Pfd Shas/I01 962 KRW 147,718.52 148,890.31 0.03 Lg Chemical Ltd 7,500 KRW 1,726,932.26 1,672,223.20 0.33 Lg Display Co Ltd 92,372 KRW 2,259,234.72 2,625,755.28 0.52 Lg Electronics Inc 69,937 KRW 3,515,370.60 4,297,554.16 0.84 Lg Household & Healthcare Pref 254 KRW 112,118.97 121,049.80 0.02 Lg Telecom Ltd 313,690 KRW 2,794,384.93 3,749,430.12 0.74 Life Healthcare Group Holding* 167,741 ZAR 388,034.51 287,762.47 0.06 Lite-on Technology Corpor. 739,760 TWD 944,748.43 1,065,800.45 0.21 Localiza Renta A Car 205,695 BRL 2,336,450.23 2,456,851.55 0.48 Longford Ppt 284,500 HKD 383,933.26 536,086.61 0.11 Lotte Shopping Ltd 947 KRW 189,589.31 220,215.90 0.04 Lpp Sa 160 PLN 195,965.99 270,417.05 0.05 M. Dias Branco Sa Ind E 88,200 BRL 1,126,404.69 1,150,304.79 0.23 Magnit Ojsc - Sgdr 33,849 USD 1,166,121.41 1,008,912.07 0.20 Mahindra & Mahindra 45,258 INR 900,099.29 827,693.06 0.16 Malayan Banking Berhad 2,015,681 MYR 3,819,431.36 3,961,840.00 0.78 Malaysia Airports Holdings 89,200 MYR 128,897.11 155,843.06 0.03 Maruti Suzuki India Ltd 12,647 INR 933,831.15 1,237,858.85 0.24 Masraf Al Rayan 32,266 QAR 346,699.79 303,613.56 0.06 Misc Bhd /Local 135,600 MYR 257,422.00 206,465.44 0.04 Mmc Norilsk Nickel Pjsc /Adr 108,366 USD 1,476,151.56 1,310,993.95 0.26 Mobile Telesystems Ojs /Sadr 116,600 USD 1,100,161.96 856,586.31 0.17 Mol Magyar /-A- 39,801 HUF 2,454,212.51 2,731,692.46 0.54 Momo Inc /Sadr 92,200 USD 3,294,908.91 2,987,386.69 0.59 Nanya Technology Co Ltd 2,054,000 TWD 3,079,367.27 3,243,366.66 0.64 Naspers Ltd N 37,080 ZAR 4,697,228.08 6,311,536.10 1.24 Netease Inc /Adr 11,700 USD 3,193,398.01 3,083,519.77 0.61 New Orientaleducat. Tech /Adr 37,100 USD 1,996,423.29 2,292,608.92 0.45 Nine Dragons Paper Hldgs Ltd 75,000 HKD 88,151.49 87,590.16 0.02 Novatek Oao /Sgdr 5,637 USD 433,934.40 557,270.35 0.11 Novolipetsk Steel Regs /Gdr 44,227 USD 753,302.40 750,622.18 0.15 Ntpc Ltd /Dematerialised 904,437 INR 2,117,520.65 1,949,528.78 0.38 O2 Czech Republic A.S. 18,980 CZK 191,202.02 197,064.57 0.04 Oil Company Lukoil Pjsc /Sadr 60,738 USD 2,218,367.10 2,593,092.49 0.51 Oil&Natural Gas Corp Ltd 1,314,011 INR 3,680,220.69 2,802,970.46 0.55 Ooredoo Q.S.C. 42,558 QAR 1,018,829.94 931,699.05 0.18 Otp Bank Ltd 24,918 HUF 664,054.34 729,208.77 0.14 Petrobras. Petr. Brasileiro 359,800 BRL 1,457,351.78 1,256,413.27 0.25 Phison Electronics Corp 18,000 TWD 152,735.29 194,758.98 0.04 Phosagro Ojsc /Sgdr 12,782 USD 162,787.82 148,471.55 0.03 Ping An Insur. (Grp) Co -H-* 1,265,500 HKD 5,563,967.90 7,311,529.98 1.44


93

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Polski Koncern Naftowy Orlen 76,632 PLN 1,717,814.45 2,026,974.53 0.40 Posco 8,998 KRW 1,993,925.35 1,978,644.98 0.39 Pou Chen Corp 267,000 TWD 335,307.53 323,898.10 0.06 Power Finance Corporation Ltd 1,582,492 INR 2,452,275.31 2,633,157.79 0.52 Powertech Technology Inc 519,000 TWD 1,255,571.05 1,404,261.53 0.28 Powszechny Zaklad Ubezpieczen 284,398 PLN 3,051,739.47 2,997,588.79 0.59 Ppb Group Bhd 64,000 MYR 229,088.04 224,153.80 0.04 President Chain Store Corp. 168,000 TWD 1,353,188.43 1,323,980.72 0.26 Promotoray Operadora De Infra 59,085 MXN 608,233.97 618,823.95 0.12 Pt Astra International Tbk 7,286,000 IDR 4,128,320.30 4,276,643.11 0.84 Pt Bank Central Asia Tbk 1,512,500 IDR 1,652,757.29 1,805,417.43 0.35 Pt Bank Rakyat Indonesia 4,401,500 IDR 4,170,876.43 4,414,445.59 0.87 Pt Gudang Garam Tbk /Demat 442,300 IDR 2,109,522.56 2,277,636.01 0.45 Pt Indofood Sukses 149,200 IDR 62,250.49 84,386.48 0.02 Pt Telekom Indon Peresero Pt 6,107,300 IDR 1,763,605.53 1,815,487.68 0.36 Pt Waskita Karya (Persero) Tbk 584,300 IDR 95,889.55 89,151.67 0.02 Ptt Global Public Co Forei Reg 466,300 THB 903,322.95 824,062.31 0.16 Ptt Plc Co Ltd /Foreign Reg 415,800 THB 3,546,911.29 3,969,083.84 0.78 Qualicorp Sa 519,300 BRL 2,242,524.35 3,942,735.51 0.77 Resilient /Reit 34,411 ZAR 296,248.82 280,180.66 0.05 Richter Gedeon 99,217 HUF 1,760,945.42 2,267,312.09 0.45 Rosneft Oil Company Ojsc /Sgdr 38,836 USD 167,171.36 185,038.71 0.04 Rostelecom /Sadr Rep. 6 Shs 30,847 USD 234,638.68 196,461.35 0.04 Rural Electrification Corp Ltd 1,223,090 INR 1,687,400.15 2,852,012.30 0.56 Rushydro /Sadr 336,120 USD 422,577.05 377,166.30 0.07 Sabesp.Cia Saneam.Bas.Estado 420,600 BRL 3,808,124.21 3,522,715.78 0.69 Samsung Electr. /Pfd N - Vot. 2,128 KRW 1,947,948.09 3,035,926.77 0.60 Samsung Electronics Co Ltd 14,256 KRW 14,717,828.36 25,963,716.57 5.10 Sanlam Ltd 426,789 ZAR 2,009,665.04 1,849,676.51 0.36 Sappi 478,347 ZAR 2,874,225.03 2,786,242.44 0.55 Sberbank of Russia Ojsc /Sadr 285,623 USD 1,880,532.77 2,591,564.87 0.51 Sesa Sterlite Ltd /Dematerialsd 185,230 INR 483,730.30 625,588.38 0.12 Severstal Cherepovets Met /Sgdr 70,354 USD 740,983.16 809,191.27 0.16 Shanghai Fosun Pharma -H-* 32,000 HKD 74,073.85 108,701.64 0.02 Shanghai Industrial Holdings 444,000 HKD 1,275,891.16 1,151,743.28 0.23 Shanghai Pharmaceuticals -H- 723,600 HKD 1,595,334.05 1,889,218.77 0.37 Shimao Property Hld Ltd 147,000 HKD 223,859.64 220,538.56 0.04 Shinhan Financial Group 52,682 KRW 1,835,398.56 1,989,982.07 0.39 Shoprite Holdings Ltd* 294,704 ZAR 3,313,575.03 3,929,842.82 0.77 Siam Cement Public Co /Foreign 173,400 THB 2,131,285.13 2,254,673.67 0.44 Sihuan Pharmaceutical 703,000 HKD 262,520.23 258,145.06 0.05 Sinopec Shanghai Petrochem. -H- 3,568,000 HKD 1,645,586.95 1,674,795.80 0.33 Sinopharm Group Co -H- 144,400 HKD 581,713.05 572,403.97 0.11 Sk C&C Co Ltd 5,665 KRW 988,966.09 1,206,659.40 0.24 Sk Telecom Co Ltd 18,406 KRW 3,203,900.29 3,751,293.51 0.74 Spar Group Ltd 23,778 ZAR 310,983.09 245,083.29 0.05 Standard Bank Group Limited 467,916 ZAR 4,260,692.15 4,507,736.97 0.88 Steinhoff In Hd 367,268 ZAR 1,905,571.61 1,646,984.19 0.32 Sun Art Retail Group Ltd* 292,500 HKD 186,085.31 204,304.06 0.04 Taesa (1 Sh +2 Pfd Sh) 519,700 BRL 3,098,756.07 3,030,133.29 0.59 Taiwan Semiconduct. Manuf /Sadr 141,051 USD 3,203,169.95 4,322,909.58 0.85 Taiwan Semiconductor Manufact. 1,763,000 TWD 7,339,808.05 10,591,889.02 2.08 Tata Consultancy Serv /Demat. 70,309 INR 2,232,059.07 2,252,402.29 0.44 Tatneft Pjsc /Sadr 16,864 USD 472,292.33 557,353.20 0.11 Tenaga Nasional 416,000 MYR 1,297,490.72 1,200,581.32 0.24 Tencent Holdings Ltd 590,500 HKD 10,197,916.47 18,513,820.66 3.64 Thai Oil Public Co /For. Reg. 904,300 THB 1,540,071.96 1,843,077.87 0.36 Thai Union-Foreign Registered 239,100 THB 128,139.23 130,156.57 0.03 Tiger Brands Ltd 132,701 ZAR 3,474,135.15 3,265,213.19 0.64 Tim Participacoes Sa 695,700 BRL 1,736,939.54 1,801,781.49 0.35 Titan Com Shs 155,782 INR 1,062,030.27 1,107,929.59 0.22


94

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Turkiye Garanti Bankasi /Nom. 944,414 TRY 2,250,928.86 2,300,697.42 0.45 Turkiye Is Bankasi As C 1,946,327 TRY 3,145,026.62 3,608,165.73 0.71 Uni-President Enterprises Corp 592,000 TWD 948,834.18 1,040,558.72 0.20 Vale Sa 151,900 BRL 1,380,941.74 1,165,341.46 0.23 Vale Sa-Pref A 478,100 BRL 4,173,803.39 3,403,532.23 0.67 Vneshtorgbank Sgdr 71,183 USD 134,809.10 131,233.32 0.03 Weichai Power Co Ltd /-H-* 4,004,000 HKD 2,979,109.14 3,075,465.84 0.60 Woori Bank 196,326 KRW 1,469,628.81 2,775,327.12 0.54 Yuanta Finanical Holding Co 3,810,000 TWD 1,517,169.78 1,471,108.90 0.29 Yum China Holdings Inc 142,800 USD 4,166,154.97 4,936,095.38 0.97 Yy Incorp /Sadr* 64,700 USD 2,867,386.97 3,291,435.96 0.65 Zhejiang Expressway Co Ltd -H- 174,000 HKD 174,110.82 199,301.31 0.04

432,001,739.48 498,372,886.98 97.86




Azioni Godrej Consumer Temp Dm1 14,332 INR - 188,155.89 0.04 Vedanta Ltd /Pfd 2,235,400 INR - - -

- 188,155.89 0.04

Totale - Altri valori mobiliari e strumenti del mercato monetario - 188,155.89 0.04



329,170.12 323,672.06 0.06




95

UBI SICAV




Semiconduttori elettronici 15.26 Corea del Sud 16.61

Banche e Istituzioni Finanziarie 12.49 Isole Cayman 13.95

Holding e Società Finanziarie 9.03 Cina 11.83

Software e Servizi Internet 8.11 Taiwan 11.05

Petrolio 6.51 India 7.18

Comunicazioni 5.62 Brasile 7.14

Altri servizi 4.91 Sudafrica 5.67

Assicurazioni 3.46 Russia 3.02

Industria Automobilistica 3.26 Indonesia 2.95

Servizi Pubblici 3.01 Tailandia 2.86

Miniere e industrie pesanti 2.83 Malesia 2.85

Chimica 2.29 Messico 2.66

Società Immobiliari 2.28 Turchia 2.15

Cibo e bevande 2.20 Stati Uniti d’America 1.73

Farmaceutica e Cosmetica 1.85 Hong Kong 1.49

Costruzioni e Materiali da Costruzione 1.66 Ungheria 1.13

Tabacco e alcolici 1.47 Polonia 1.07

Arti grafiche e editoria 1.39 Cile 0.87

Intrattenimento 1.37 Bermuda 0.54

Retail 1.15 United Arab Emirates 0.46

Computer e materiale d’ufficio 0.97 Grecia 0.40

Beni di consumo 0.96 Paesi bassi 0.32

Meccanica e macchinari 0.91 Qatar 0.32

Trasporti 0.80 Filippine 0.29

Industrie cartarie e prodotti forestali 0.73 Colombia 0.08

Fondi d’Investimento 0.70 Repubblica Ceca 0.04

Elettronica e apparecchiature elettriche 0.55 Cassa e Altre Attività / (Passività) 1.34



Pesca e Agricoltura 0.39

Varie 0.38

Beni d’investimento 0.32

Metalli non ferrosi 0.26

Edifici commerciali 0.22

Imballaggio e Container 0.16 Tessile 0.14


100.00

100.00

96

UBI SICAV




netto


Fondi d’Investimento Ishares Trust /Msci Eafe Indx* 72,977 USD 4,223,449.99 4,171,211.01 0.81 Spdr S&P 500 Etf Trust S.1* 29,090 USD 6,244,490.22 6,166,355.75 1.20

10,467,940.21 10,337,566.76 2.01

Azioni 3i Group Plc 14,427 GBP 86,950.05 148,245.09 0.03 3m Co 21,700 USD 3,918,158.91 3,960,483.04 0.77 A.P. Moeller - Maersk A /S A 55 DKK 63,752.17 91,947.84 0.02 Abbott Laboratories Inc* 21,100 USD 718,988.28 899,159.29 0.18 Abbvie Inc 73,984 USD 3,957,231.44 4,702,884.05 0.92 Abertis Infraestructuras Sa 8,959 EUR 125,102.47 145,314.98 0.03 Activision Blizzard Inc 10,800 USD 560,545.85 545,065.31 0.11 Adecco /Act .Nom. 37,124 CHF 2,212,473.37 2,477,426.50 0.48 Adobe Systems Inc 32,400 USD 3,880,037.88 4,017,406.86 0.78 Aflac Inc 6,200 USD 428,679.98 422,210.92 0.08 Agnc Investment Corp /Reit 166,900 USD 3,074,102.51 3,115,017.97 0.61 Aisin Seiki Co Ltd 16,300 JPY 741,132.40 731,130.59 0.14 Allergan Plc 5,700 USD 1,282,458.12 1,214,704.13 0.24 Allianz Se /Nam. Vinkuliert 6,638 EUR 904,863.94 1,144,391.20 0.22 Alphabet Inc -A- 1,100 USD 840,628.35 896,509.16 0.17 Alphabet Inc -C- 4,682 USD 3,463,395.88 3,729,879.77 0.73 Altria Group 27,963 USD 1,491,245.86 1,825,549.76 0.36 Amadeus It Holding Sr. A 6,311 EUR 246,269.49 330,380.85 0.06 Amazon Com Inc 2,300 USD 1,330,569.41 1,951,783.99 0.38 American Express Co. 50,800 USD 3,606,034.96 3,751,549.05 0.73 American Financial Group 1,100 USD 98,175.98 95,824.49 0.02 American Tower Corp 6,200 USD 619,454.35 719,193.48 0.14 Ameriprise Financial Inc /Wh. I 2,500 USD 300,756.11 278,973.44 0.05 Amerisourcebergen Corp 28,100 USD 2,423,519.65 2,328,651.71 0.45 Amgen Inc 30,499 USD 4,101,627.49 4,604,929.23 0.90 Annaly Capital Management Inc 204,700 USD 2,126,770.37 2,162,387.13 0.42 Anthem Inc 26,156 USD 3,355,131.46 4,313,779.50 0.84 Apple Inc 92,614 USD 10,281,896.90 11,693,055.39 2.28 Applied Materials Inc 93,100 USD 2,567,791.03 3,371,579.73 0.66 Archer-Daniels Midland Co 78,405 USD 2,556,136.41 2,844,217.50 0.55 Arista Networks Inc 700 USD 94,597.99 91,919.87 0.02 Aristocrat Leisure Limited 181,434 AUD 2,631,593.85 2,751,884.26 0.54 Asahi Glass Co. Ltd 2,800 JPY 70,105.53 103,313.88 0.02 Asahi Kasei Corp 18,000 JPY 104,204.21 169,550.53 0.03 Astellas Pharma Inc 31,800 JPY 363,257.62 340,966.23 0.07 At&t* 79,413 USD 2,814,827.42 2,626,678.79 0.51 Athene Holding Ltd -A- 70,700 USD 3,078,163.93 3,074,802.31 0.60 Atlantia Spa 5,765 EUR 127,637.93 142,049.60 0.03 Atlas Copco Ab* 9,988 SEK 282,060.65 335,302.52 0.07 Atlas Copco Ab 5,855 SEK 171,097.95 177,143.35 0.03 Atos 25,284 EUR 3,102,252.52 3,107,403.60 0.60 Axa 28,331 EUR 580,375.23 678,527.45 0.13 Bank of America Corp 150,500 USD 2,672,899.69 3,200,780.22 0.62 Bank of Nova Scotia 18,300 CAD 814,229.65 963,476.48 0.19 Bard (C.R.) Inc 2,000 USD 469,761.51 554,238.63 0.11 Barratt Devel.Plc 15,510 GBP 104,444.20 99,509.10 0.02 Baxter Intl Inc 7,500 USD 387,993.35 398,045.06 0.08 Bayer 35,042 EUR 3,102,211.54 3,966,754.40 0.77 Becton Dickinson & Co 3,200 USD 498,451.64 547,341.11 0.11 Best Buy Co Inc* 78,300 USD 2,595,472.80 3,935,249.41 0.77 Block Inc. H+R 81,900 USD 1,946,109.50 2,219,276.76 0.43 Bmw Ag /Vorzug. 796 EUR 52,710.05 57,455.28 0.01 Bnp Paribas 15,964 EUR 831,147.78 1,006,689.84 0.20



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Boeing Co 8,700 USD 1,512,827.56 1,508,218.64 0.29 Borg Warner Inc 10,800 USD 416,409.89 401,059.00 0.08 Bp Plc 834,143 GBP 4,321,129.17 4,205,379.45 0.82 Bristol Myers Squibb Co 6,900 USD 333,021.65 337,045.67 0.07 British American Tobacco (25p)* 29,953 GBP 1,573,487.61 1,784,970.78 0.35 Broadcom Limited 4,200 USD 904,351.97 858,078.37 0.17 Brother Industries Ltd 4,400 JPY 42,327.74 89,000.96 0.02 Bunge Ltd 2,200 USD 145,274.61 143,876.57 0.03 Canadian Imper. Bk of Commerce* 43,400 CAD 2,953,341.02 3,086,944.94 0.60 Canadian National Railway 15,400 CAD 918,715.38 1,093,600.67 0.21 Canon Inc 16,700 JPY 516,439.28 497,123.56 0.10 Carnival Corp 5,300 USD 294,806.52 304,655.91 0.06 Carnival Plc 2,878 GBP 158,799.74 166,460.64 0.03 Caterpillar Inc. 9,100 USD 851,573.64 857,268.34 0.17 Cbs Corp -B- /When Issued 13,700 USD 750,887.42 766,008.59 0.15 Celanese Corp Series -A- 15,900 USD 1,279,847.61 1,323,350.57 0.26 Charter Communications Inc 3,300 USD 1,000,342.93 974,493.73 0.19 Chevron Corporation 28,239 USD 2,480,169.86 2,582,778.00 0.50 Chipotle Mexican Grill Inc 400 USD 178,490.75 145,910.41 0.03 Chubu Electric Power C. Jpy 500 9,300 JPY 111,723.97 108,277.14 0.02 Cimic Group Ltd 18,688 AUD 468,284.87 487,993.95 0.10 Cit Group Inc 2,900 USD 88,238.46 123,809.94 0.02 Citizens Financial Group Inc 7,500 USD 157,235.98 234,592.79 0.05 Ck Hutchison Holdings Ltd 112,000 HKD 1,282,949.69 1,232,550.82 0.24 Ck Infrastructure Holdings Ltd 9,000 HKD 67,817.62 66,299.02 0.01 Clp Holdings Ltd 25,500 HKD 229,535.09 236,527.13 0.05 Coca-Cola Co. 57,200 USD 2,286,642.69 2,248,987.46 0.44 Coca-Cola Europ Prntr 3,108 EUR 108,471.58 110,489.40 0.02 Cochlear Limited 847 AUD 76,813.09 88,521.04 0.02 Comcast Corp -A- 156,400 USD 5,468,340.00 5,336,274.22 1.04 Constellation Brand -A- 4,300 USD 629,936.86 730,287.54 0.14 Corning Inc* 139,100 USD 2,845,712.23 3,664,377.14 0.71 Costar Group Inc 500 USD 111,611.26 115,543.09 0.02 Covestro Ag 10,490 EUR 743,310.40 663,072.90 0.13 Credit Agricole Sa. Paris* 270,288 EUR 2,552,947.63 3,807,006.48 0.74 Csx Corp. 11,200 USD 533,622.41 535,699.13 0.10 Cummins Inc 19,100 USD 2,607,774.10 2,716,228.63 0.53 Cvs Caremark Corp 51,336 USD 4,317,343.69 3,621,017.41 0.70 Daiichi Sankyo Co Ltd* 8,600 JPY 166,174.55 177,579.12 0.03 Daiwa H. Industr. Co Ltd 49,200 JPY 1,493,947.63 1,473,023.18 0.29 Danske Bank As 102,148 DKK 3,308,184.45 3,440,106.58 0.67 Darden Restaurants 15,300 USD 1,081,749.25 1,213,055.14 0.24 Deere & Co. 33,600 USD 3,437,898.69 3,640,417.29 0.71 Deutsche Lufthansa /Nam. 160,515 EUR 2,679,769.34 3,198,261.38 0.62 Dnb Nor Asa 15,035 NOK 230,091.38 223,416.65 0.04 Dominion Resources Inc* 9,000 USD 597,295.00 604,602.44 0.12 Domino S Pizza Inc 700 USD 90,918.43 129,807.14 0.03 Dow Chemical Co. 71,000 USD 3,200,467.04 3,925,633.38 0.76 Dr Horton Inc 5,100 USD 140,537.63 154,560.36 0.03 Dr Pepper Snapple Group Inc 2,700 USD 219,275.37 215,654.42 0.04 Duke Energy 9,900 USD 723,557.92 725,467.70 0.14 Eastman Chemical Co 44,200 USD 3,189,465.80 3,254,456.04 0.63 Eaton Corporation Public Ltd 6,800 USD 468,956.49 463,964.23 0.09 Edison International 4,700 USD 292,487.02 322,164.46 0.06 Edp-Energias De Portugal Sa 526,312 EUR 1,523,188.54 1,506,831.26 0.29 Electrolux Ab B 3,646 SEK 99,470.42 104,625.81 0.02 Emerson Electric Co. 35,900 USD 2,038,439.11 1,876,354.87 0.37 Enbridge Inc 13,600 CAD 552,849.48 474,168.89 0.09 Endesa Sa 149,524 EUR 3,225,072.88 3,015,899.08 0.59 Enel* 114,924 EUR 499,453.08 539,453.26 0.10 Eog Resources Inc 1,600 USD 147,629.28 126,967.65 0.02


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Essity Aktie- B 9,364 SEK 215,883.86 224,330.38 0.04 Eutelsat Communications Paris 2,946 EUR 54,731.77 65,872.56 0.01 Everest Reinsurance Group Ltd 14,200 USD 2,801,415.62 3,169,262.73 0.62 Exxon Mobil Corp 36,734 USD 2,692,979.01 2,599,750.87 0.51 Facebook Inc -A- 35,856 USD 3,553,477.05 4,745,804.23 0.92 Fe New Nv 1,759 EUR 64,858.90 132,188.85 0.03 Fiat Chrysler Automobiles Nv 13,297 EUR 90,592.90 122,731.31 0.02 Fid Nat Fin -A- Fnf Group 3,700 USD 138,857.14 145,411.59 0.03 Fiserv Inc 3,200 USD 354,203.05 343,199.79 0.07 Fleetcor Technologies Inc 1,400 USD 175,325.21 176,991.32 0.03 Fortescue Metals Group Ltd 313,607 AUD 531,452.66 1,100,597.81 0.21 Fortive Corp 4,800 USD 269,140.00 266,573.16 0.05 France Telecom Sa 68,322 EUR 1,010,704.91 948,992.58 0.18 Franklin Resources Inc. 5,600 USD 218,615.89 219,886.03 0.04 Fujitsu Ltd 326,000 JPY 1,797,116.28 2,105,147.49 0.41 Galaxy Entertainment Group 19,000 HKD 98,085.68 101,132.95 0.02 Galp Energia Sgps Sa -B- Shrs 112,548 EUR 1,267,673.52 1,491,823.74 0.29 General Electric Co 16,860 USD 451,282.60 399,218.55 0.08 Gilead Sciences Inc 51,900 USD 4,360,942.20 3,220,375.21 0.63 Gkn Plc 26,147 GBP 111,816.14 97,050.22 0.02 Glaxosmithkline Plc 70,288 GBP 1,293,165.23 1,308,846.76 0.25 Hannover Rueckve /Namen Akt 937 EUR 100,150.83 98,338.15 0.02 Hasbro Inc. 34,500 USD 3,180,617.95 3,372,573.86 0.66 Henderson Land Dev. 559,900 HKD 2,947,922.35 2,738,163.41 0.53 Hermes International 6,324 EUR 2,699,094.35 2,736,078.60 0.53 Hilton Inc 42,900 USD 2,470,458.64 2,326,084.86 0.45 Hitachi Ltd 66,000 JPY 367,636.02 354,939.82 0.07 Home Depot Inc. 41,000 USD 5,317,793.14 5,513,631.98 1.07 Honda Motor Co Ltd 23,600 JPY 639,203.33 564,079.44 0.11 Honeywell International Inc. 4,800 USD 573,985.27 560,876.65 0.11 Hoya Corp 2,800 JPY 122,832.46 127,405.89 0.02 Hp Inc 26,000 USD 454,374.92 398,422.02 0.08 Hsbc Holdings Plc 307,245 GBP 1,833,525.67 2,489,653.21 0.48 Iberdrola Sa 357,270 EUR 2,119,167.83 2,476,952.91 0.48 Ica Gruppen Ab* 72,574 SEK 2,279,923.59 2,365,445.11 0.46 Illinois Tool Works 4,600 USD 431,573.94 577,671.61 0.11 Ing Group Nv 288,034 EUR 3,151,555.84 4,349,313.40 0.85 Ingersoll-Rand Plc Shs 3,800 USD 266,904.38 304,446.39 0.06 Ingredion Inc Shs 5,600 USD 664,763.68 585,233.63 0.11 Int Air Group 11,786 EUR 81,730.81 81,900.91 0.02 Intel Corp 30,800 USD 990,501.33 911,012.54 0.18 Investor Ab B 24,462 SEK 947,360.21 1,032,223.53 0.20 Iss A/S 2,576 DKK 98,145.02 88,589.92 0.02 Itochu Corp 259,500 JPY 2,876,345.32 3,378,572.21 0.66 J.Sainsbury Plc* 672,204 GBP 2,331,908.15 1,926,377.40 0.37 Japan Tobacco Inc* 74,700 JPY 2,662,586.73 2,299,996.82 0.45 Jm Smucker Co 1,700 USD 210,567.97 176,348.73 0.03 Johnson & Johnson 65,831 USD 6,206,706.37 7,634,595.42 1.49 Jpmorgan Chase & Co 82,058 USD 4,810,111.26 6,574,998.86 1.28 Juniper Networks Inc 5,000 USD 132,148.83 122,205.66 0.02 Kajima Corp 178,000 JPY 1,111,787.36 1,316,339.30 0.26 Kansai Electr. Power C. Jpy 500 10,800 JPY 129,782.33 130,332.76 0.03 Kbc Groupe Sa 3,757 EUR 247,963.11 249,502.37 0.05 Kddi Corp 26,300 JPY 616,144.03 610,354.60 0.12 Kerry Properties Ltd 198,500 HKD 621,222.81 590,700.20 0.11 Kla Tencor Corporation 22,700 USD 1,401,636.75 1,821,054.62 0.35 Kuraray Co Ltd 5,000 JPY 66,857.98 79,490.22 0.02 Kyocera Corp. 51,400 JPY 2,680,122.15 2,608,655.23 0.51 Kyushu Railway Company 9,700 JPY 289,601.43 275,809.22 0.05 L3 Technologies Inc 1,200 USD 178,714.57 175,765.76 0.03 Lam Research Corp* 29,900 USD 2,643,410.81 3,707,159.64 0.72


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Land Sec Group Plc Reit/Cap 11,341 GBP 136,290.24 130,803.05 0.03 Lear Corp 23,300 USD 2,135,888.45 2,902,133.78 0.56 Legal & General Group Plc 90,164 GBP 279,092.42 265,164.05 0.05 Liberty Global Plc -C- 9,000 USD 263,666.12 246,006.84 0.05 Liberty Med.Corp New/Interac-A 8,900 USD 189,545.51 191,466.64 0.04 Liberty Media Corp 1,300 USD 44,215.70 47,842.55 0.01 Lincoln National Corp 3,500 USD 208,073.14 207,355.13 0.04 Lindt & Spruengli /Reg 1 CHF 60,378.33 61,195.56 0.01 Lloyds Tsb Group Plc 1,127,911 GBP 878,453.62 849,496.80 0.17 Lockheed Martin Corp 2,800 USD 682,008.25 681,430.70 0.13 Lvmh Moet Hennessy Eur 0.3 4,122 EUR 753,037.00 899,832.60 0.18 Lyondellbasell Ind Nv -A- 39,505 USD 3,115,959.25 2,922,615.02 0.57 Macquarie Group Ltd 56,083 AUD 3,394,894.33 3,336,928.49 0.65 Macquarie Infrastructure Corp 1,100 USD 86,519.37 75,602.70 0.01 Magna International Inc. 5,500 CAD 221,994.72 222,977.00 0.04 Manulife Financial Corp 28,000 CAD 501,436.00 459,391.27 0.09 Marathon Petroleum Corporation 73,900 USD 3,302,024.33 3,390,187.60 0.66 Marine Harvest Asa* 208,234 NOK 3,235,310.03 3,113,921.23 0.61 Marubeni Corp. 15,400 JPY 85,292.61 87,192.11 0.02 Maxim Integrated Products 4,400 USD 183,806.39 173,191.90 0.03 Mckesson Corp 3,300 USD 474,813.83 476,007.71 0.09 Medtronic Holdings Limited 22,300 USD 1,698,361.93 1,735,009.20 0.34 Merck 35,300 USD 1,701,314.74 1,983,323.40 0.39 Metro Inc -A- /Sub Vtg 3,500 CAD 104,270.46 100,816.64 0.02 Micron Technology Inc 15,800 USD 419,226.86 413,595.16 0.08 Microsoft Corp 62,274 USD 3,291,718.44 3,763,081.28 0.73 Mirvac Group 54,411 AUD 78,335.15 77,918.16 0.02 Mitsubishi Chemical Hldgs Corp 466,600 JPY 3,324,272.92 3,385,430.37 0.66 Mitsubishi Corp 65,800 JPY 1,222,227.48 1,209,318.47 0.24 Mitsubishi Gas Chemical 3,100 JPY 44,718.40 57,433.44 0.01 Mitsubishi Motor Corp. 511,000 JPY 2,872,582.02 2,949,796.98 0.57 Mitsubishi Tanabe Pharma Corp 2,900 JPY 43,685.93 58,727.59 0.01 Mitsui & Co Ltd 26,100 JPY 308,298.95 326,881.49 0.06 Mitsui Chemicals Inc. 138,000 JPY 648,887.34 640,524.22 0.12 Mondi Plc 5,557 GBP 125,227.96 127,425.67 0.02 Monsanto Co 6,600 USD 709,616.35 684,821.60 0.13 Morgan Stanley 106,100 USD 3,184,344.06 4,144,662.05 0.81 Msig Holdings 57,000 JPY 1,646,407.76 1,678,093.90 0.33 Namco Bandai Hldg 2,800 JPY 73,200.35 83,655.85 0.02 National Bank of Canada* 5,100 CAD 188,262.11 187,691.85 0.04 National Grid Plc 50,556 GBP 679,497.44 547,867.42 0.11 National Retail Properties Inc 90,000 USD 2,997,856.56 3,084,947.84 0.60 Natixis 463,732 EUR 2,479,554.44 2,725,352.96 0.53 Nestle Sa 3,521 CHF 217,431.76 268,974.34 0.05 Nextera Energy 6,700 USD 732,641.96 823,065.66 0.16 Nikon Corp. 5,100 JPY 65,517.84 71,452.27 0.01 Nippon Express Co Ltd 13,000 JPY 65,505.23 71,291.57 0.01 Nippon Tel&Tel 87,100 JPY 3,210,350.52 3,607,880.82 0.70 Nomura Holdings Inc 54,800 JPY 308,626.64 287,867.86 0.06 Norfolk Southern Corp. 4,200 USD 441,714.94 448,093.28 0.09 Norsk Hydro As 19,885 NOK 113,354.83 96,303.64 0.02 Northrop Grumman Corp 2,500 USD 558,799.73 562,615.06 0.11 Novartis Ag Basel /Nam. 28,719 CHF 1,911,240.76 2,097,928.54 0.41 Novo Nordisk A/S /-B- 3,890 DKK 143,155.35 145,864.66 0.03 Obayashi Corp 345,800 JPY 3,024,149.31 3,563,422.46 0.69 Omv Ag 8,675 EUR 367,540.52 394,148.63 0.08 Oneok Inc (New) 3,100 USD 138,025.02 141,751.56 0.03 Oracle Corp 120,800 USD 5,013,093.09 5,309,820.29 1.03 Orion Corp (New) Shs -B- 1,587 EUR 91,549.59 88,713.30 0.02 Orix Corp 36,800 JPY 462,898.54 499,501.24 0.10 Orkla Asa 29,185 NOK 255,963.43 259,140.50 0.05


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Oversea - Chinese Bk Corp 72,900 SGD 499,095.54 500,694.44 0.10 Packaging Corp of America 9,100 USD 544,175.83 888,620.15 0.17 Partners Group Holdings 4,894 CHF 2,465,474.67 2,663,387.21 0.52 Paypal Holdings Inc 8,900 USD 400,655.76 418,745.51 0.08 Pembina Pipeline Corp* 6,100 CAD 180,458.28 176,820.56 0.03 Pepsico Inc 27,500 USD 2,645,181.15 2,784,233.37 0.54 Persimmon Plc 32,276 GBP 857,896.32 823,895.98 0.16 Pfizer Inc Pfizer Inc 157,133 USD 4,257,865.79 4,627,068.88 0.90 Philip Morris Int. 23,400 USD 2,258,844.32 2,409,336.37 0.47 Phillips 66 - Shs When Issued 42 USD 3,019.76 3,044.60 - Phillips-Van Heusen Corp 1,200 USD 112,544.36 120,452.35 0.02 Ppl Corp 9,700 USD 318,442.03 328,747.26 0.06 Priceline Com Inc 600 USD 994,447.00 983,880.07 0.19 Principal Financial Group Inc* 62,500 USD 2,669,481.47 3,510,454.11 0.68 Procter & Gamble Co 22,417 USD 1,718,014.95 1,712,669.02 0.33 Progressive Corp 89,100 USD 3,082,232.47 3,443,866.92 0.67 Publ. Serv. Enterprise 7,875 USD 326,652.77 296,926.23 0.06 Qiagen Nv 2,893 EUR 61,261.51 84,258.63 0.02 Quest Diagnostics Inc 17,500 USD 1,091,225.44 1,705,356.36 0.33 Randstad Holding (Eur 0.1) 1,743 EUR 83,800.68 89,102.16 0.02 Raymond James Fin. Inc 1,900 USD 146,088.53 133,617.95 0.03 Raytheon Company 7,500 USD 1,081,775.37 1,061,716.49 0.21 Reckitt Benckiser Group Plc 894 GBP 75,207.26 79,231.42 0.02 Reed Elsevier Plc 9,073 GBP 153,548.82 171,481.02 0.03 Repsol Ypf Sa. Madrid 231,683 EUR 3,412,498.74 3,104,552.20 0.60 Resmed Inc 2,100 USD 138,278.15 143,356.71 0.03 Reynolds American Inc 48 USD 2,560.96 2,736.85 - Roche Holding Ag /Genussschein 10,663 CHF 2,376,636.82 2,383,655.87 0.46 Rockwell Automation 22,800 USD 3,090,447.60 3,237,212.24 0.63 Ross Stores Inc 51,800 USD 2,817,944.11 2,621,560.45 0.51 Royal Bank of Canada 56,540 CAD 3,619,638.32 3,593,039.60 0.70 Royal Dutch Shell /-B- 84,855 GBP 1,951,392.10 1,992,638.25 0.39 Royal Dutch Shell Plc /-A- 66,095 GBP 1,451,827.99 1,531,405.09 0.30 S&P Global Shs 3,900 USD 481,149.62 499,132.99 0.10 Sanofi-Aventis 43,488 EUR 3,680,777.03 3,642,554.88 0.71 Scana Corporation 2,100 USD 129,592.34 123,363.72 0.02 Seagate Technolgie Plc 4,400 USD 193,921.59 149,469.62 0.03 Sekisui House Ltd 8,800 JPY 128,488.80 135,886.93 0.03 Servicenow Inc 36,200 USD 3,221,104.41 3,363,899.36 0.65 Sharp Corp. 714,000 JPY 2,013,944.51 2,322,596.53 0.45 Shaw Communic.-B /Non-Vot. 6,400 CAD 125,279.18 122,194.78 0.02 Sherwin-Williams Co 1,200 USD 353,370.70 369,204.87 0.07 Shin-Etsu Chemical Co 5,800 JPY 427,565.12 460,817.04 0.09 Shionogi & Co Ltd 4,400 JPY 204,092.86 214,831.09 0.04 Shopify Inc 1,200 CAD 92,518.81 91,192.56 0.02 Siemens Ag /Nam. 9,332 EUR 909,049.38 1,123,106.20 0.22 Simon Property /Paired Shs 46 USD 8,308.84 6,523.15 - Smith and Nephew Plc 13,453 GBP 206,678.27 202,951.42 0.04 Smith Corp.. A.O. 2,200 USD 96,948.65 108,640.31 0.02 Softbank 13,000 JPY 773,548.39 922,531.18 0.18 Sonic Healthcare 5,767 AUD 87,608.02 93,906.68 0.02 Sony Corp Jpy 50 17,700 JPY 487,487.39 591,786.34 0.12 Southern Co 14,200 USD 647,320.47 596,034.01 0.12 Southwest Airlines Co 2,400 USD 126,575.32 130,740.77 0.03 Stanley Black & Decker Inc 2,300 USD 288,657.49 283,754.71 0.06 Statoilhydro Asa 16,085 NOK 215,695.62 232,959.76 0.05 Stryker Corp. 4,900 USD 464,775.58 596,144.47 0.12 Sumitomo Chemical Co Ltd 24,000 JPY 123,110.34 120,943.70 0.02 Sumitomo Corp. 268,700 JPY 3,349,120.86 3,064,464.15 0.60 Sun Hung Kai Properties Ltd 239,000 HKD 3,189,935.00 3,078,378.77 0.60 Suncor Energy 25,600 CAD 689,453.24 654,642.69 0.13


101

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Suntrust Banks Inc. 61,100 USD 2,231,682.08 3,038,127.47 0.59 Suzuki Motor Corp 92,900 JPY 2,789,745.31 3,862,623.96 0.75 Swedbank Ab -A- 13,251 SEK 317,357.60 282,743.98 0.06 Swedish Match Ab 72,366 SEK 2,251,267.40 2,231,556.43 0.43 Swiss Life Holding /Nam. 2,101 CHF 496,971.69 622,376.31 0.12 Swiss Re-Namen 4,949 CHF 392,909.50 397,089.00 0.08 Synopsys Inc 22,200 USD 1,515,042.23 1,419,344.26 0.28 Sysco Corp. 2,800 USD 136,801.74 123,541.68 0.02 T-Mobile Us Inc 4,100 USD 213,321.11 217,885.51 0.04 Taisei Corp 90,000 JPY 596,565.39 720,326.47 0.14 Target Corp* 8,300 USD 420,052.11 380,474.27 0.07 Tate + Lyle Plc 6,815 GBP 55,841.67 51,366.61 0.01 Taylor Wimpey Plc 1,034,186 GBP 2,168,242.23 2,074,730.18 0.40 Teijin Ltd 2,700 JPY 53,847.00 45,515.37 0.01 Telecom Italia Spa 3,795,668 EUR 3,082,662.26 3,066,899.74 0.60 Telecom Italia Spa /Risp. N-Cv 89,629 EUR 55,489.22 57,810.71 0.01 Texas Instruments Inc 55,900 USD 3,681,587.73 3,769,954.41 0.73 Time Warner 3,500 USD 315,158.04 308,087.14 0.06 Tohoku Electric Power Jpy 500 6,100 JPY 66,217.12 73,994.55 0.01 Toronto Dominion Bk* 98,112 CAD 4,026,952.36 4,327,205.00 0.84 Total Sa* 40,239 EUR 1,597,157.28 1,741,745.12 0.34 Transcanada Corp* 70,000 CAD 2,879,797.00 2,920,564.42 0.57 Tui Ag 7,342 GBP 98,759.02 93,540.90 0.02 Tyco Electron /Reg Shs 38,400 USD 2,651,993.13 2,648,647.32 0.52 Tyson Foods Inc -A- 46,400 USD 2,685,040.25 2,547,586.57 0.50 Ulta Salon Cosmet & Frag Inc 800 USD 203,972.56 201,518.37 0.04 Unilever Cert. of Shs 25,736 EUR 1,035,389.32 1,243,563.52 0.24 Unilever Plc 83,278 GBP 3,343,482.40 3,939,656.72 0.77 Union Pacific Corp. 20,000 USD 2,014,517.97 1,909,529.24 0.37 Unitedhealth Group Inc 34,369 USD 3,842,750.28 5,586,657.30 1.09 Upm - Kymmene Corp* 54,438 EUR 882,371.75 1,358,772.48 0.26 Utd Overseas Bk /Local 19,400 SGD 296,607.66 285,504.76 0.06 Valero Ener. Corp* 57,155 USD 3,159,142.21 3,380,096.70 0.66 Vantiv Inc 45,900 USD 2,254,380.64 2,548,703.43 0.50 Vereit Inc /Reit 451,500 USD 3,523,830.51 3,221,890.07 0.63 Vestas Wind Systems As /Reg* 45,436 DKK 2,784,385.51 3,672,673.06 0.71 Viacom Inc -B- 5,100 USD 210,906.76 150,089.42 0.03 Vinci 3,792 EUR 293,801.66 283,376.16 0.06 Visa Inc -A- 28,400 USD 2,288,674.24 2,334,840.01 0.45 Vmware Inc* 37,000 USD 2,665,482.33 2,835,899.01 0.55 Vodafone Group Plc 1,469,910 GBP 3,833,143.78 3,644,231.65 0.71 Voestalpine Ag 47,009 EUR 1,454,266.59 1,917,967.20 0.37 Volkswagen Ag 451 EUR 58,615.24 61,223.25 0.01 Volkswagen Ag /Vorzug. 24,736 EUR 2,737,679.48 3,298,545.60 0.64 Volvo B 22,419 SEK 280,073.16 334,600.39 0.07 Wal-Mart Stores Inc 57,200 USD 3,453,620.89 3,794,946.96 0.74 Walgreens Boots Alliance Inc 13,200 USD 1,067,059.04 906,190.94 0.18 Waste Connections Inc 3,750 USD 161,179.68 211,777.86 0.04 Waste Management Inc. 6,500 USD 434,511.75 417,967.04 0.08 Wec Energy Group Inc 31,700 USD 1,752,792.93 1,705,747.35 0.33 Wells Fargo & Co 11,350 USD 583,131.54 551,331.20 0.11 Wh Group Ltd 3,698,000 HKD 2,683,541.88 3,272,305.64 0.64 Wilmar International Ltd 27,500 SGD 67,394.48 58,640.99 0.01 Worldpay Group Plc 26,004 GBP 89,766.85 93,203.44 0.02 Zoetis Inc -A- 2,000 USD 94,859.45 109,371.44 0.02

460,628,693.56 498,568,655.51 97.07




102

UBI SICAV





Azioni Bgp Holdings 80,205 EUR 92.08 - - Safeway Inc Casa Ley Cvr 23,600 USD - - - Safeway Inc Pdc Cvr 23,600 USD - - -

92.08 - -

Totale - Altri valori mobiliari e strumenti del mercato monetario 92.08 - -



204,665.90 201,201.55 0.04




UBI SICAV




Banche e Istituzioni Finanziarie

Software e Servizi Internet


Petrolio


Cibo e bevande


Comunicazioni


Servizi Pubblici

Retail Industria Automobilistica

Chimica


Assicurazioni

Altri servizi Costruzioni e Materiali da Costruzione

Tabacco e alcolici

Fondi d’Investimento Educazione Sanitaria e Servizi Sociali


Edifici commerciali

Trasporti

Biotecnologia


Beni di consumo

Varie Elettronica e apparecchiature elettriche


Tessile

Pesca e Agricoltura


Intrattenimento

Industrie cartarie e prodotti forestali

Beni d’investimento

Metalli Preziosi


Servizi per l’Ambiente e Riciclaggio

Stati, Province e Municipalità



7.97 Giappone

7.63 Gran Bretagna

5.95 Francia

5.59 Canada

4.55 Germania

4.13 Svizzera

3.97 Spagna

3.57 Paesi bassi

3.54 Australia

3.53 Danimarca

3.05 Svezia

2.98 Bermuda

2.96 Hong Kong

2.82 Isole Cayman

2.71 Italia

2.30 Norvegia

2.20 Irlanda

2.01 Portogallo

1.99 Austria

1.79 Singapore

1.60 Finlandia

1.57 Panama

1.55 Belgio


1.09

1.02

1.00

0.87

0.73

0.61

0.37

0.35

0.26

0.22

0.21

0.17

0.04

0.04

0.88

55.42

9.48

5.67

4.21

3.63

2.66

2.65

1.78

1.72

1.56

1.45

1.38

1.37

1.20

0.88

0.77

0.77

0.76

0.58

0.45

0.34

0.28

0.06

0.05

0.88

100.00

100.00

104

UBI SICAV




netto


Obbligazioni A2a 1.25% 17-16.03.24 2,100,000 EUR 2,092,545.00 2,100,840.00 0.88 Ab Inbev 0.625% 16-17.03.20* 3,100,000 EUR 3,150,330.13 3,140,640.91 1.32 Abbey Natl 0.875% 14-13.01.20 1,750,000 EUR 1,773,873.28 1,778,167.93 0.75 Abbvie 0.375% 16-18.11.19 1,200,000 EUR 1,196,784.00 1,205,301.64 0.51 Abn Amro 1% 15-16.04.25* 2,400,000 EUR 2,427,838.52 2,424,871.22 1.02 Accor 1.25% 17-25.01.24 1,400,000 EUR 1,388,576.00 1,396,527.99 0.59 Acea 1% 16-24.10.26 2,100,000 EUR 2,027,816.00 2,002,732.24 0.84 Achmea Hypo 1.125% 15-25.04.22 750,000 EUR 756,933.00 765,003.78 0.32 Aeroporti 1.625% 17-08.06.27 Regs 800,000 EUR 794,456.00 798,400.00 0.34 Air Liquide 1% 17-08.03.27 800,000 EUR 799,000.00 792,570.38 0.33 Allianz Se 2.241% 15-07.07.45 1,700,000 EUR 1,645,135.77 1,708,321.53 0.72 Amer Movil 1.5% 16-10.03.24 1,350,000 EUR 1,364,171.01 1,369,083.56 0.58 Amgen 1.25% 16-25.02.22 800,000 EUR 824,427.63 824,219.97 0.35 Apple Inc 1.625% 14-10.11.26 2,100,000 EUR 2,255,575.22 2,185,152.92 0.92 Arkema 1.5% 15-20.01.25 1,000,000 EUR 1,018,132.50 1,027,335.97 0.43 Arrfp 2.25% 14-16.01.20 1,000,000 EUR 993,420.00 1,052,295.00 0.44 Assgen 5.5% 15-27.10.47 1,350,000 EUR 1,471,500.00 1,503,562.50 0.63 Att 1.45% 14-01.06.22* 2,400,000 EUR 2,456,462.01 2,462,337.53 1.04 Autostrade 1.125% 15-04.11.21* 1,200,000 EUR 1,226,082.59 1,237,956.02 0.52 Aviva 3.375% 15-04.12.45 800,000 EUR 756,244.91 822,184.02 0.35 Axa 5.25% (Frn) 10-16.04.40 /Sub 700,000 EUR 777,070.00 783,511.39 0.33 Azimut Hldg 2% 17-28.03.22 800,000 EUR 800,000.00 825,360.00 0.35 Banco Bilba 1% 16-20.01.21* 800,000 EUR 805,024.00 817,943.97 0.34 Barclays 6% 10-14.01.21 1,200,000 EUR 1,391,991.05 1,399,092.04 0.59 Bat Hldg 3.125% 14-06.03.29* 800,000 EUR 965,575.23 895,033.63 0.38 Bayer Ag 3% 14-01.07.75* 800,000 EUR 815,355.00 831,774.42 0.35 Berkshire 1.125% 15-16.03.27* 1,200,000 EUR 1,169,471.87 1,165,735.20 0.49 Bertelsmann 0.25% 17-26.05.21 800,000 EUR 797,528.00 794,974.42 0.33 Bfcm 2.625% 14-18.03.24 2,700,000 EUR 3,047,463.00 3,015,616.47 1.27 Bg Energy 6.5% (Frn) 12-30.11.72 1,200,000 EUR 1,262,079.33 1,229,760.00 0.52 Bk Ireland 4.25% 14-11.06.24* 1,200,000 EUR 1,200,318.33 1,266,016.85 0.53 Bmw Fin 0.125% 17-12.01.21 2,400,000 EUR 2,393,828.53 2,392,257.58 1.01 Bnpp 2.25% 16-11.01.27 1,350,000 EUR 1,344,675.10 1,364,164.23 0.57 Boa 2.5% 13-27.07.20 Regs 3,100,000 EUR 3,251,862.03 3,309,814.33 1.39 Bp Milan 4.25% 14-30.01.19 750,000 EUR 775,703.52 786,120.02 0.33 Bpce 1.125% 17-18.01.23 2,400,000 EUR 2,395,786.28 2,429,481.62 1.02 Bpcm 2.994% 12-18.02.19 2,100,000 EUR 2,239,009.33 2,199,716.36 0.93 Bqe Postale 3% 16-09.06.28 1,000,000 EUR 1,012,174.17 1,070,877.99 0.45 Britel 1.5% 17-23.06.27 700,000 EUR 694,281.00 683,620.00 0.29 Caixabank 1.125% 17-17.05.24 800,000 EUR 798,232.00 797,231.99 0.34 Cap Gem 0.5% 16-09.11.21 800,000 EUR 797,786.00 796,971.19 0.34 Carrefour 1.25% 15-03.06.25* 2,100,000 EUR 2,135,912.27 2,123,990.46 0.89 Cassa Depo 1.5% 17-21.06.24 800,000 EUR 794,480.00 782,928.00 0.33 Cdp Reti Sr 1.875% 15-29.05.22 800,000 EUR 818,000.00 824,452.82 0.35 Citigp 1.5% 16-26.10.28 1,750,000 EUR 1,740,811.76 1,695,541.75 0.71 Cnp Assur 1.875% 16-20.10.22* 1,000,000 EUR 998,473.33 1,043,515.01 0.44 Coca Cola 1.125% 15-09.03.27* 1,350,000 EUR 1,342,613.73 1,338,739.66 0.56 Comzbk 1.125% 17-24.05.24 1,350,000 EUR 1,342,966.50 1,347,734.69 0.57 Credit Agri 1.875% 16-20.12.26 3,100,000 EUR 3,090,146.70 3,161,597.00 1.33 Crh Fin 1.375% 16-18.10.28 750,000 EUR 749,010.00 724,583.99 0.31 Cs Gr Fund 1.25% 15-14.04.22 2,700,000 EUR 2,660,740.32 2,755,890.00 1.16 Daimler 0.625% 15-05.03.20 2,400,000 EUR 2,429,541.02 2,430,143.93 1.02 Danone 1.25% 15-30.05.24* 1,000,000 EUR 1,039,188.75 1,029,440.00 0.43 Delphi Auto 1.6% 16-15.09.28 800,000 EUR 766,168.00 765,613.58 0.32 Deut Tel If 1.5% 16-03.04.28 2,100,000 EUR 2,174,596.37 2,086,228.20 0.88 Dnb Bnk As 1.25% 17-01.03.27 Regs 800,000 EUR 798,728.00 807,159.98 0.34 Dsk Bk 3.875% (Frn) 13-04.10.23 750,000 EUR 799,674.00 782,353.48 0.33 Dt An Fin 0.75% 17-25.01.22 2,400,000 EUR 2,397,348.00 2,409,719.98 1.01


105

UBI SICAV




Dvb Bank Se 1.25% 16-15.09.21* 1,000,000 EUR 1,039,857.50 1,026,401.98 0.43 Easyjet Plc 1.125% 16-18.10.23* 1,200,000 EUR 1,189,717.50 1,195,802.40 0.50 Edf 3.875% 12-18.01.22 3,100,000 EUR 3,539,557.59 3,587,561.74 1.51 Edp 5.375% 15-16.09.75 800,000 EUR 793,778.33 878,614.38 0.37 Enagas Fin 1.375% 16-05.05.28* 800,000 EUR 805,974.00 790,722.42 0.33 Enbw Intl 2.5% 14-04.06.26* 800,000 EUR 851,942.73 900,876.77 0.38 Enel 5% 14-15.01.75 1,750,000 EUR 1,854,106.87 1,897,329.00 0.80 Enexis 0.875% 16-28.04.26 800,000 EUR 791,200.00 782,567.20 0.33 Eni 1.5% 15-02.02.26 1,750,000 EUR 1,771,194.48 1,768,681.20 0.75 Esb Fin 2.125% 15-08.06.27 800,000 EUR 847,280.00 854,753.60 0.36 Eurogrid 1.5% 16-18.04.28 800,000 EUR 814,844.00 801,484.80 0.34 Evonik Fin 0% 16-08.03.21 1,750,000 EUR 1,744,146.62 1,726,660.22 0.73 Exor S.P.A 2.125% 15-02.12.22 800,000 EUR 846,560.00 844,095.22 0.36 Fca Bank Ie 1% 17-15.11.21 2,700,000 EUR 2,688,255.00 2,710,432.75 1.14 Fce Bk 1.615% 16-11.05.23 1,200,000 EUR 1,217,314.50 1,220,836.76 0.51 Fedex Corp 1% 16-11.01.23 750,000 EUR 754,374.00 754,193.97 0.32 Fer D Stato 1.5% 17-27.06.25 700,000 EUR 695,310.00 692,440.00 0.29 Fer Emsn 1.375% 17-31.03.25 Regs 1,000,000 EUR 993,566.67 999,357.99 0.42 Fil Intl 2.5% 16-04.11.26 800,000 EUR 798,952.00 817,440.00 0.34 Finmeccan 1.5% 17-07.06.24 800,000 EUR 793,176.00 789,840.00 0.33 Fresenius 1.5% 17-30.01.24 800,000 EUR 799,000.00 808,304.02 0.34 G4s Int Fin 1.5% 17-02.06.24 800,000 EUR 795,160.00 796,400.00 0.34 Galp Gas Na 1.375% 16-19.09.23 1,000,000 EUR 992,000.00 993,910.98 0.42 Gas Nat Fen 3.875% 13-11.04.22* 1,700,000 EUR 1,966,981.60 1,966,570.25 0.83 Gdf Suez 1% 15-13.03.26 2,100,000 EUR 2,126,203.11 2,084,140.74 0.88 Ge Cap Eur 0.8% 15-21.01.22 2,700,000 EUR 2,729,789.90 2,739,752.05 1.15 General Motors 0.955% 07.09.23 1,200,000 EUR 1,189,971.75 1,160,687.99 0.49 Heathrow Fd 1.875% 14-23.05.24 1,200,000 EUR 1,252,182.34 1,275,035.98 0.54 Heidlrg 1.5% 16-07.02.25 Reg-S 800,000 EUR 788,232.00 809,620.79 0.34 Heineken Nv 1% 16-04.05.26 2,100,000 EUR 2,087,834.22 2,063,397.08 0.87 Holcim Fin 1.375% 16-26.05.23 1,200,000 EUR 1,211,072.72 1,224,247.19 0.52 Hsbc Hldg 1.5% 16-15.03.22 2,400,000 EUR 2,467,799.81 2,498,517.53 1.05 Hutch Wham 1.375% 14-31.10.21* 1,350,000 EUR 1,378,819.61 1,388,847.63 0.58 Iberdrola I 1.75% 15-17.09.23* 1,000,000 EUR 1,045,107.50 1,057,331.01 0.45 Imp Tob 1.375% 17-27.01.25 Regs 1,350,000 EUR 1,344,829.50 1,342,300.99 0.57 Ing Groep 2.5% (Frn) 17-15.02.29 2,400,000 EUR 2,530,920.00 2,500,367.98 1.05 Intesa San 0.875% 17-27.06.22 700,000 EUR 696,738.00 700,350.00 0.30 Intesa San 6.625% 08.05.18 Emtn 1,750,000 EUR 1,864,593.50 1,836,275.00 0.77 Intesa San 6.625% 13-13.09.23 Emtn 1,200,000 EUR 1,440,083.68 1,472,529.60 0.62 Is Vita 5.35% 13-18.09.18 /Sub* 800,000 EUR 892,071.27 846,833.62 0.36 Italgas 0.5% 17-19.01.22 Regs 800,000 EUR 799,000.00 797,335.21 0.34 Italy 1.25% 16-01.12.26 /Btp 2,400,000 EUR 2,197,716.00 2,241,664.85 0.94 Itv 2% 16-01.12.23 800,000 EUR 799,640.00 814,388.79 0.34 Johnson Ctl 1% 17-15.09.23 1,200,000 EUR 1,189,548.00 1,185,422.42 0.50 Jpmorgan Ch 1.5% 15-26.10.22 2,100,000 EUR 2,204,790.00 2,184,298.16 0.92 Kbc 0.75% 16-18.10.23 800,000 EUR 799,234.00 791,328.00 0.33 Kellogg Co 1% 16-17.05.24 2,100,000 EUR 2,134,072.06 2,076,395.98 0.87 Kering 1.375% 14-01.10.21 800,000 EUR 837,036.00 833,280.03 0.35 Koninklijke 1.125% 16-11.09.28 1,400,000 EUR 1,365,287.70 1,320,060.01 0.56 Liberty Mut 2.75% 16-04.05.26 800,000 EUR 821,307.61 854,025.58 0.36 Linde Finance 1% 16-20.04.28 1,350,000 EUR 1,370,077.20 1,329,614.97 0.56 Lloyds Bk 1% 16-09.11.23 2,700,000 EUR 2,621,378.99 2,696,327.95 1.14 Mapfre 1.625% 16-19.05.26 800,000 EUR 801,177.02 801,607.18 0.34 Mcdonalds 1.125% 15-26.05.22 800,000 EUR 805,130.73 818,376.77 0.34 Mediobanca 0.75% 17-17.02.20 1,200,000 EUR 1,197,672.00 1,209,477.64 0.51 Metrovacesa 2.375% 16-23.05.22 800,000 EUR 850,256.00 844,748.78 0.36 Mol 2.625% 16-28.04.23 1,200,000 EUR 1,218,546.50 1,272,000.00 0.54 Mor St 1% 16-02.12.22 2,700,000 EUR 2,706,750.00 2,716,151.35 1.14 Nn Group 1% 15-18.03.22 1,200,000 EUR 1,223,755.80 1,215,289.21 0.51 Nordea Bank 2% 14-17.02.21 1,750,000 EUR 1,843,901.49 1,859,119.45 0.78 Nykredit 0.75% 16-14.07.21* 800,000 EUR 798,650.00 803,465.58 0.34


106

UBI SICAV




Partnerre 1.25% 16-15.09.26 1,200,000 EUR 1,184,024.10 1,144,903.20 0.48 Pemex 3.75% 17-21.02.24 1,350,000 EUR 1,364,679.00 1,397,509.24 0.59 Peugeot 2% 17-23.03.24 Regs 1,750,000 EUR 1,750,000.00 1,772,448.98 0.75 Pohjola Bk 0.75% 15-03.03.22 1,750,000 EUR 1,760,367.10 1,769,862.54 0.75 Pricelineco 0.8% 17-10.03.22 1,200,000 EUR 1,197,540.00 1,195,303.16 0.50 Pubfp 1.625% 14-16.12.24 800,000 EUR 824,397.00 830,918.39 0.35 Rabobk 1.375% 15-03.02.27* 3,100,000 EUR 3,155,093.06 3,154,157.06 1.33 Rbs Grp 2.5% 16-22.03.23* 700,000 EUR 702,429.69 743,196.99 0.31 Rci Bq 0.5% 16-15.09.23 1,350,000 EUR 1,340,990.86 1,307,029.51 0.55 Saipem Fin 3% 16-08.03.21* 800,000 EUR 810,721.45 816,935.98 0.34 Sampo Bk 1% 16-18.09.23 800,000 EUR 799,688.00 796,639.22 0.34 San Con 0.9% 15-18.02.20* 3,100,000 EUR 3,133,728.84 3,156,792.03 1.33 Santander 1.375% 17-09.02.22 Regs 1,400,000 EUR 1,411,599.00 1,434,190.80 0.60 Scor Se 3.625% 16-27.05.48 800,000 EUR 801,028.36 866,000.00 0.36 Seb Frn 07-Perp 1,200,000 EUR 1,298,093.00 1,238,160.00 0.52 Shb 2.656% 14-15.01.24* 2,700,000 EUR 2,809,569.70 2,791,038.68 1.18 Socgen 0.75% 16-19.02.21 2,100,000 EUR 2,132,558.63 2,134,509.36 0.90 Solvay 1.625% 15-02.12.22* 800,000 EUR 813,798.79 834,285.58 0.35 St Gobain 3.625% 12-15.06.21* 800,000 EUR 878,061.91 901,078.43 0.38 Statoil 0.875% 15-17.02.23 1,200,000 EUR 1,215,944.56 1,216,219.21 0.51 Swiss Re Ad 1.375% 16-27.05.23 1,750,000 EUR 1,779,101.95 1,799,855.75 0.76 Swisscom Ag 1.875% 14-08.09.21* 800,000 EUR 862,188.75 847,427.18 0.36 Telecom It 2.5% 17-19.07.23 1,200,000 EUR 1,191,456.00 1,263,268.80 0.53 Telefonica 5.597% 12-12.03.20 2,100,000 GBP 3,060,712.64 2,658,334.81 1.12 Tennet 2.995% (Frn) 17-Perp Regs 800,000 EUR 799,784.00 820,000.00 0.35 Terna 0.875% 15-02.02.22 800,000 EUR 809,119.08 811,571.23 0.34 Teva Pharm 0.375% 16-25.07.20 1,200,000 EUR 1,198,773.90 1,195,533.60 0.50 Thermo Fish 1.375% 16-12.09.28 1,200,000 EUR 1,174,903.20 1,140,649.20 0.48 Thyssenkp 1.375% 17-03.03.22 1,200,000 EUR 1,195,056.00 1,197,984.01 0.50 Total Infra 2.2% 15-05.08.25 800,000 EUR 842,000.00 850,082.40 0.36 Total Sa 3.369% 16-Perp 1,200,000 EUR 1,198,560.00 1,221,480.01 0.51 Toyota 0.75% 15-21.07.22 1,350,000 EUR 1,355,517.56 1,370,519.96 0.58 Ubs Group F 1.75% 15-16.11.22 1,750,000 EUR 1,850,019.00 1,841,782.22 0.78 Unibail Rod 1.5% 17-29.05.29 1,200,000 EUR 1,197,912.00 1,189,387.21 0.50 Unicredit 2.125% 16-24.10.26 1,750,000 EUR 1,741,030.12 1,797,690.95 0.76 Unicredit 6.95% 31.10.22 Emtn 1,500,000 EUR 1,743,750.00 1,809,209.97 0.76 Ups 1% 16-15.11.28* 800,000 EUR 798,824.00 767,403.20 0.32 Usa 0.75% 16-31.01.18 /Tbo 800,000 USD 749,794.70 699,762.21 0.29 Valeo Sa 0.625% 17-11.01.23 800,000 EUR 796,624.00 796,692.81 0.34 Verizon Com 1.625% 14-01.03.24* 1,200,000 EUR 1,249,802.45 1,226,282.41 0.52 Vodafone 2.2% 16-25.08.26 1,350,000 EUR 1,449,765.00 1,432,754.96 0.60 Vw Intl 1.875% 17-30.03.27 Regs 2,700,000 EUR 2,703,416.80 2,696,408.92 1.14 Wells Fargo 1.5% 15-12.09.22 2,400,000 EUR 2,496,595.82 2,493,912.05 1.05

229,877,361.51 230,261,274.30 96.96

Totale - Valori mobiliari e strumenti del mercato monetario ammessi alla quotazione ufficiale di una borsa valori 229,877,361.51 230,261,274.30 96.96



107

UBI SICAV






Servizi Pubblici

Comunicazioni

Assicurazioni

Petrolio

Trasporti Tabacco e alcolici

Industria Automobilistica


Cibo e bevande


Retail

Chimica

Intrattenimento



Software e Servizi Internet Costruzioni e Materiali da Costruzione

Mutui e Istituti di Finanziamento



Beni di consumo




Biotecnologia

Altri servizi


31.79 Francia

18.67 Paesi bassi


5.58 Italia

5.50 Gran Bretagna

3.60 Spagna

3.15 Irlanda

2.57 Germania

2.43 Svezia

1.87 Belgio

1.86 Jersey

1.56 Messico

1.24 Guernsey

1.13 Finlandia

0.93 Norvegia

0.92 Portogallo

0.87 Svizzera

0.84 Danimarca

0.72 Isole Cayman

0.70 Ungheria

0.68 Lussemburgo

0.51 Bermuda


0.50

0.48

0.45

0.35

0.34

3.04

15.27

14.55

14.15

13.33

10.12

5.18

5.17

4.60

2.48

2.00

1.62

1.17

1.16

1.09

0.85

0.79

0.78

0.67

0.58

0.54

0.52

0.34

3.04

100.00

100.00

108

UBI SICAV




netto


Obbligazioni A Schulman 6.875% 16-01.06.23 1,475,000 USD 1,309,597.80 1,367,416.94 0.15 Aa Bond 5.5% 15-31.07.43 1,725,000 GBP 2,355,913.58 2,037,279.16 0.23 Acadia Hlth 6.125% 14-15.03.21 4,215,000 USD 3,330,804.63 3,810,571.36 0.42 Adient Glob 3.5% 16-15.08.24 3,950,000 EUR 3,950,000.00 4,005,892.54 0.44 Adient Glob 4.875% 16-15.08.26 850,000 USD 767,466.52 747,019.37 0.08 Ads Waste 5.625% 16-15.11.24 1,775,000 USD 1,625,457.88 1,602,743.93 0.18 Aecom 5.125% 17-15.03.27 144a 1,475,000 USD 1,387,582.31 1,297,914.66 0.14 Aes 4.875% 13-15.05.23 225,000 USD 176,547.55 200,042.30 0.02 Aes 5.5% 14-15.03.24 425,000 USD 309,225.85 387,947.09 0.04 Aes 5.5% 15-15.04.25 200,000 USD 184,903.30 183,439.99 0.02 Aes 7.375% 12-01.07.21 3,101,000 USD 2,795,874.50 3,112,689.58 0.34 Afren 10.25% 12-08.04.19 975,836 USD 813,315.32 171.10 - Akbank 5.125% 15-31.03.25 1,500,000 USD 1,332,465.69 1,281,712.98 0.14 Albertsons 5.75% 16-15.03.25 2,250,000 USD 1,979,217.86 1,834,399.93 0.20 Alcoa Neder 6.75% 16-30.09.24 200,000 USD 177,904.29 190,234.07 0.02 Alcoa Neder 7% 16-30.09.26 1,000,000 USD 889,521.44 962,128.52 0.11 Alliant Tech 5.5% 16-01.10.23 2,200,000 USD 1,975,752.13 2,029,893.92 0.22 Altice Fin 5.25% 15-15.02.23 1,500,000 EUR 1,500,000.00 1,588,500.03 0.18 Altice Us F 7.75% 15-15.07.25 1,000,000 USD 873,931.24 968,703.43 0.11 Am Axle & M 6.25% 01.04.25 144a 975,000 USD 909,903.03 833,369.86 0.09 Am Axle & M 6.25% 13-15.03.21 1,125,000 USD 867,142.97 1,013,358.03 0.11 Am Axle & M 6.5% 17-01.04.27 150,000 USD 141,750.14 127,882.00 0.01 Am Axle & M 7.75% 11-15.11.19 425,000 USD 361,622.53 409,269.75 0.05 Amc Ent 5.875% 16-15.11.26 144a 375,000 USD 343,092.41 343,128.12 0.04 Amc Entert Hldg 6.375% 15.11.24 1,850,000 GBP 2,172,653.18 2,257,989.72 0.25 Amerigas Fi 5.875% 16-20.08.26 1,650,000 USD 1,455,283.12 1,482,642.24 0.16 Amigo Lux 7.625% 17-15.01.24 Regs 850,000 GBP 973,877.30 1,005,144.48 0.11 Anglian Wat 5% 15-30.04.23* 3,000,000 GBP 4,163,775.00 3,667,766.75 0.41 Anna Merg S 7.75% 14-01.10.22 1,975,000 USD 1,526,275.12 1,311,530.20 0.14 Antero Res 5% 16-01.03.25 144a 2,425,000 USD 2,132,887.40 2,062,110.98 0.23 Arab Rep Eg 5.875% 15-11.06.25 2,185,000 USD 1,994,369.37 1,872,391.95 0.21 Ardagh 4.75% 17-15.07.27 Regs 1,000,000 GBP 1,142,205.00 1,136,969.01 0.13 Ardagh Pck 2.75% 15.03.24 Regs 1,200,000 EUR 1,200,000.00 1,222,800.02 0.14 Ardagh Pck 4.125% 16-15.05.23 1,250,000 EUR 1,250,000.00 1,323,992.54 0.15 Ardagh Pck 6% 14-30.06.21 875,000 USD 644,472.27 793,920.40 0.09 Ardagh Pck 6.75% 16-15.05.24* 4,800,000 EUR 4,800,000.00 5,358,000.00 0.59 Argentina 5.625% 17-26.01.22 2,700,000 USD 2,544,049.75 2,423,774.92 0.27 Argentina 6.875% 16-22.04.21 3,000,000 USD 2,876,767.50 2,814,061.54 0.31 Argentina 7.5% 16-22.04.26 7,680,000 USD 6,891,091.27 7,254,492.86 0.80 Argentina 7.82% 09-31.12.33 /Pik 5,779,636 EUR 3,322,483.16 6,065,149.65 0.67 Argentina 7.82% 31.12.33 Pik 1,750,000 EUR 1,453,075.94 2,551,943.05 0.28 Argentina 8.28% 09-31.12.33 1,110 USD - 1,080.53 - Argentina Frn 03-15.12.35 Gdp 2,352 USD - 171.82 - Argos Mg 7.125% 15-15.03.23 4,575,000 USD 4,145,554.72 3,569,518.72 0.39 Arr Gbl Fin 5.125% 16-15.09.24* 1,150,000 GBP 1,366,120.65 1,355,174.61 0.15 Ascent Reso 10% 17-01.04.22 144a 2,725,000 USD 2,534,647.94 2,388,884.02 0.26 Ashtead Cap 5.625% 14-01.10.24 525,000 USD 406,409.66 494,761.99 0.05 Aston Es 9.5% 14-15.08.21 2,400,000 USD 1,781,869.48 1,393,880.95 0.15 Aston Mar 5.75% 17-15.04.22 Regs 900,000 GBP 1,051,893.90 1,073,636.47 0.12 Atalia 4% 17-15.05.24 1,400,000 EUR 1,400,000.00 1,449,000.00 0.16 Autodis Sa 4.375% 16-01.05.22 2,075,000 EUR 2,075,000.00 2,147,625.00 0.24 Avaya 10.5% 13-01.03.21 /144a 1,750,000 USD 1,002,775.54 149,579.21 0.02 Axalta Coat 3.75% 16-15.01.25 2,250,000 EUR 2,250,000.00 2,364,749.96 0.26 Axalta Coat 4.25% 16-15.08.24 2,050,000 EUR 2,050,000.00 2,184,695.31 0.24 Ball Corp 4.375% 15-15.12.23 2,050,000 EUR 2,050,000.00 2,319,062.50 0.26 Beazer 5.75% 14-15.06.19 2,925,000 USD 2,256,261.65 2,687,604.87 0.30 Beazer 7.25% 13-01.02.23 2,795,000 USD 2,232,830.26 2,560,021.04 0.28 Belden Inc 4.125% 16-15.10.26 2,425,000 EUR 2,425,000.00 2,580,200.00 0.29


109

UBI SICAV




Block Cm 6.875% 17-15.02.25 144a 1,125,000 USD 1,063,636.80 1,057,738.67 0.12 Blue Cube 9.75% 16-15.10.23 865,000 USD 774,049.22 917,550.63 0.10 Blue Cube 10% 16-15.10.25 2,115,000 USD 1,892,617.45 2,285,208.64 0.25 Bmc Soft Fin 8.125% 13-15.07.21 10,400,000 USD 8,124,472.15 9,439,228.36 1.04 Bombardier 7.5% 15-15.03.25 775,000 USD 745,273.03 704,885.16 0.08 Bombardier 7.75% 10-15.03.20 1,350,000 USD 1,228,283.89 1,276,399.14 0.14 Bombardier 8.75% 16-01.12.21 144a 1,850,000 USD 1,869,523.23 1,800,210.40 0.20 Boparan 4.375% 14-15.07.21 4,200,000 EUR 4,200,000.00 4,097,100.13 0.45 Boxer Paren 9% 15.10.19 /Pik 2,000,000 USD 1,884,492.78 1,755,501.01 0.19 Boyd Gam 6.875% 15-15.05.23 2,350,000 USD 2,112,398.76 2,204,348.21 0.24 Brazil 5.625% 09-07.01.41 2,090,000 USD 1,402,092.50 1,763,500.48 0.19 Brazil 8.25% 04-20.01.34 3,500,000 USD 3,457,712.57 3,835,364.25 0.42 Brazil Loan 5.477% 24.07.23 /Pool 1,623,261 USD 1,446,894.89 1,437,440.62 0.16 Brazil Rep 6% 16-07.04.26* 2,500,000 USD 2,224,973.12 2,364,776.06 0.26 Brkfld Res 6.375% 15-15.05.25* 3,900,000 USD 3,595,982.52 3,538,616.64 0.39 Buenos 6.5% 15.02.23 Pool (Regs) 1,680,000 USD 1,568,498.78 1,508,715.70 0.17 Buenos 9.125% 16-16.03.24 /Pool 1,750,000 USD 1,756,856.02 1,725,837.21 0.19 Bul Energy 4.875% 16-02.08.21 850,000 EUR 840,828.50 918,000.00 0.10 Cable Comm 5% 16-15.10.23 575,000 EUR 575,000.00 603,750.00 0.07 California 6% 14-15.11.24 69,000 USD 56,372.55 31,454.37 - California 8% 15-15.12.22 1,415,000 USD 1,437,911.88 784,594.99 0.09 Calpine 5.375% 14-15.01.23 2,850,000 USD 2,135,862.13 2,436,004.21 0.27 Calpine 5.5% 15-01.02.24 3,700,000 USD 3,263,074.34 3,045,728.94 0.34 Carmike Cin 6% 15-15.06.23 1,700,000 USD 1,503,892.43 1,572,280.18 0.17 Catalent 4.75% 16-15.12.24 1,920,000 EUR 1,980,300.00 2,054,899.22 0.23 Cco Hldgs 5.75% 15-15.02.26 1,600,000 USD 1,472,618.50 1,494,380.64 0.17 Cco Hldgs 5.875% 15-01.05.27 4,962,000 USD 4,656,823.58 4,649,020.34 0.51 Cec Ent 8% 14-15.02.22 2,775,000 USD 2,039,883.20 2,536,107.21 0.28 Cemex 7.75% 16-16.04.26 2,500,000 USD 2,590,613.38 2,506,684.49 0.28 Cemex 7.75% 16-16.04.26 1,400,000 USD 1,464,183.38 1,399,509.07 0.15 Cemex Fin 4.625% 16-15.06.24 800,000 EUR 800,000.00 864,903.99 0.10 Cemex Fin 6% 14-01.04.24 1,200,000 USD 1,120,112.24 1,114,789.16 0.12 Cequel Comm 5.125% 13-15.12.21 4,895,000 USD 3,770,024.65 4,366,321.12 0.48 Cequel Comm 5.125% 14-15.12.21 5,250,000 USD 4,176,896.50 4,687,260.11 0.52 Change Hl 5.75% 17-01.03.25 144a 900,000 USD 834,105.65 804,769.00 0.09 Chemours 6.125% 15.05.23 1,950,000 EUR 1,950,000.00 2,057,027.74 0.23 Chemours Co 5.375% 17-15.05.27 1,075,000 USD 981,587.64 972,928.23 0.11 Chemours Co 7% 15-15.05.25 1,275,000 USD 1,139,512.02 1,218,330.85 0.13 Chesa Ener 8% 17-15.06.27 144a 1,425,000 USD 1,266,666.67 1,227,371.35 0.14 Chs /Communi 6.25% 17-31.03.23 2,400,000 USD 2,257,173.19 2,172,034.73 0.24 Chs 5.125% 14-01.08.21 775,000 USD 570,020.59 687,437.98 0.08 Chs 6.875% 14-01.02.22 2,825,000 USD 2,288,410.81 2,163,885.11 0.24 Chs Com Hlth 7.125% 12-15.07.20 4,635,000 USD 3,765,164.42 3,956,632.99 0.44 Citgo 10.75% 15-15.02.20 4,250,000 USD 3,572,380.55 4,047,131.15 0.45 Claire S St 6.125% 15.03.20 144a 200,000 USD 152,858.45 83,282.20 0.01 Claire S St 9% 12-15.03.19 950,000 USD 806,457.79 420,575.09 0.05 Clean Har 5.25% 12-01.08.20 925,000 USD 755,718.95 822,055.54 0.09 Cliffs Nat 5.75% 17-01.03.25 144a 875,000 USD 823,529.41 722,966.16 0.08 Cloud Crane 10.125% 16-01.08.24 2,550,000 USD 2,328,339.09 2,453,427.72 0.27 Clr 20 Sr B 7.625% 15.03.20 1,525,000 USD 1,362,332.43 1,330,213.90 0.15 Cod Fin 2 6.75% 16-01.11.21 1,425,000 EUR 1,425,000.00 1,460,625.00 0.16 Coluif 7.375% 14-30.03.21 1,000,000 USD 955,739.30 929,543.26 0.10 Coluif 7.375% 14-30.03.21 4,430,000 USD 3,731,787.98 4,121,449.55 0.46 Commscope T 6% 15-15.06.25 1,600,000 USD 1,465,201.46 1,497,326.20 0.17 Consol En 5.875% 14-15.04.22 3,175,000 USD 2,896,292.21 2,734,669.50 0.30 Consol En 8% 15-01.04.23 2,500,000 USD 2,388,847.62 2,301,218.55 0.25 Constllm 6.625% 17-01.03.25 144a 3,000,000 USD 2,609,522.92 2,518,190.58 0.28 Contourglob 5.125% 16-15.06.21 4,175,000 EUR 4,298,500.00 4,392,935.04 0.49 Coop Group 7.5% 11-08.07.26 2,620,000 GBP 3,628,160.75 3,612,455.40 0.40 Cooper-Stan 5.625% 15.11.26 144a 1,300,000 USD 1,190,476.19 1,143,924.78 0.13 Cott Financ 5.5% 16-01.07.24* 2,700,000 EUR 2,700,000.00 2,908,601.95 0.32


110

UBI SICAV




Cott Holdin 5.5% 17-01.04.25 144a 2,275,000 USD 2,154,968.27 2,034,277.20 0.22 Coveris Hldg 7.875% 14-01.11.19 3,175,000 USD 2,308,116.41 2,741,627.95 0.30 Cpuk Fin 4.25% 17-28.08.22 1,815,000 GBP 2,085,248.06 2,078,064.20 0.23 Cpuk Fin 4.875% 17-28.08.25 1,100,000 GBP 1,263,786.70 1,269,702.69 0.14 Cumberland 6.75% 17-01.05.25 144a 550,000 USD 514,018.69 507,473.48 0.06 Cvr Prtn 9.25% 16-15.06.23 1,285,000 USD 1,105,401.58 1,178,601.95 0.13 Dakar Finan 9% 15.11.20 /Pik 745,607 EUR 760,518.94 757,834.75 0.08 Dana Fin Lu 6.5% 16-01.06.26 600,000 USD 537,538.07 559,850.95 0.06 Digicel 6.75% 15-01.03.23 750,000 USD 661,492.33 618,258.51 0.07 Digicel Grp 7.125% 14-01.04.22 1,200,000 USD 893,982.80 912,260.89 0.10 Digicel Grp 8.25% 12-30.09.20 1,700,000 USD 1,296,943.63 1,393,293.57 0.15 Digicel Grp 8.25% 12-30.09.20 2,700,000 USD 2,191,685.42 2,210,842.47 0.24 Dish Dbs 5.875% 14-15.11.24 1,500,000 USD 1,200,960.77 1,403,046.37 0.15 Dish Dbs 7.75% 16-01.07.26 2,825,000 USD 2,479,157.53 2,934,711.14 0.32 Dmn1 7.125% 16-15.06.24 2,050,000 USD 1,799,034.66 1,975,508.51 0.22 Dolphin Sub 7.25% 12-15.10.21 6,258,000 USD 4,761,129.83 5,870,132.37 0.65 Dominican 7.5% 06.05.21 /Pool 3,349,000 USD 3,238,024.08 3,244,187.78 0.36 Dominican R 6.85% 15-27.01.45 1,225,000 USD 1,071,942.13 1,145,627.90 0.13 Dominican R 7.45% 14-30.04.44 1,750,000 USD 1,664,019.15 1,750,536.95 0.19 Drax Finc 4.25% 17-01.05.22 Regs 975,000 GBP 1,165,292.70 1,134,521.07 0.13 Dynegy 5.875% 13-01.06.23 3,450,000 USD 2,642,170.97 2,827,868.85 0.31 Dynegy 6.75% 15-01.11.19 450,000 USD 380,165.29 406,822.57 0.04 Dynegy 7.375% 15-01.11.22 9,725,000 USD 8,156,099.16 8,418,898.48 0.93 Dynegy 7.625% 15-01.11.24 1,650,000 USD 1,406,996.88 1,403,085.82 0.15 Dynegy 8.034% 17-02.02.24 1,325,000 USD 1,169,561.55 1,098,052.95 0.12 Eagle Ii Ac 6% 17-01.04.25 144a 575,000 USD 540,820.17 534,321.03 0.06 Eer Fin 8.125% 15-15.09.23 2,000,000 USD 1,997,447.05 1,851,933.02 0.20 Egypt 6.125% 17-31.01.22 Regs 2,415,000 USD 2,245,258.46 2,162,215.74 0.24 Eircom Fina 4.5% 16-31.05.22 3,300,000 EUR 3,327,000.00 3,448,595.67 0.38 Eldorado 7% 16-01.08.23 1,790,000 USD 1,633,360.24 1,696,710.35 0.19 Ence Ener 5.375% 15-01.11.22 2,200,000 EUR 2,200,000.00 2,360,457.07 0.26 Endo 6% 15-01.02.25 1,925,000 USD 1,564,784.01 1,375,361.62 0.15 Endo Financ 6% 15-15.07.23 3,350,000 USD 2,755,574.76 2,468,374.77 0.27 Endo Finance 5.75% 13-15.01.22 625,000 USD 453,161.26 493,008.70 0.05 Ent One 6.875% 15-15.12.22 2,650,000 GBP 3,674,940.50 3,303,825.19 0.37 Enter Inns 6.375% 16-15.02.22 2,225,000 GBP 2,548,774.20 2,739,987.21 0.30 Ephios Hold 8.25% 01.07.23 Regs 3,000,000 EUR 3,000,000.00 3,338,939.91 0.37 Esal Gmbh 6.25% 13-05.02.23 1,500,000 USD 1,446,991.40 1,140,746.91 0.13 Eurochem 3.8% 16-12.04.20 1,000,000 USD 892,777.43 877,969.67 0.10 Evolution 7.5% 15-15.03.22 144a 1,930,000 USD 1,875,248.23 1,742,701.85 0.19 Fbm Fin 8.25% 16-15.08.21 1,350,000 USD 1,202,672.61 1,267,807.05 0.14 Fed Mogul 4.875% 17-15.04.22 Regs 1,875,000 EUR 1,875,000.00 1,884,375.00 0.21 Fgp 6.5% 11-01.05.21 1,300,000 USD 986,072.52 1,076,970.28 0.12 Fgp 6.75% 14-15.01.22 2,611,000 USD 1,949,331.72 2,151,608.66 0.24 Fiat Invest 5.25% 15-15.04.23 1,325,000 USD 1,240,752.88 1,178,990.97 0.13 First Data 7% 15-01.12.23 11,905,000 USD 10,860,244.48 11,141,042.78 1.23 First Qu 7.25% 17-01.04.23 144a 1,650,000 USD 1,536,598.99 1,413,934.43 0.16 Fmg Res 4.75% 17-15.05.22 144a 575,000 USD 527,910.39 505,966.73 0.06 Fmg Res 5.125% 17-15.05.24 1,100,000 USD 1,009,915.53 964,320.15 0.11 Freeport Mc 3.875% 13-15.03.23 3,580,000 USD 2,797,548.26 2,918,734.11 0.32 Ftr 10.5% 16-15.09.22 880,000 USD 812,702.01 737,704.92 0.08 Ftr 11% 16-15.09.25 6,205,000 USD 5,644,592.75 5,045,268.26 0.56 Galapagos H 7% 14-15.06.22 2,550,000 EUR 2,550,000.00 2,205,568.87 0.24 Galapagos S 5.375% 14-15.06.21 729,000 EUR 729,000.00 737,310.60 0.08 Gates Glob 5.75% 14-15.07.22 1,950,000 EUR 1,950,000.00 1,991,730.00 0.22 Gaz Cap 5.999% 11-23.01.21 Regs 1,000,000 USD 922,220.29 945,735.08 0.10 Gaz Cap. 8.625% 04-28.04.34 Reg. S 850,000 USD 997,832.76 993,666.17 0.11 Gaz Capital 6.51% 07-07.03.22 2,125,000 USD 2,011,939.61 2,056,631.89 0.23 Genon En 9.875% 11-15.10.20 3,775,000 USD 2,933,820.57 1,969,076.01 0.22 Gfl Env 5.625% 17-01.05.22 144a 725,000 USD 664,588.87 649,875.08 0.07 Glbl Part 6.25% 15-15.07.22 1,400,000 USD 1,026,919.97 1,233,453.14 0.14 Glbl Part 7% 15-15.06.23 550,000 USD 498,060.42 479,749.28 0.05 Gold Nug 8.5% 13-01.12.21 1,350,000 USD 1,005,755.61 1,254,492.86 0.14


UBI SICAV




Greatbatch 9.125% 15-01.11.23 2,425,000 USD 2,137,693.93 2,264,070.31 0.25 Greif Lux 7.375% 11-15.07.21 990,000 EUR 1,006,191.49 1,198,395.00 0.13 Greif Lux 7.375% 11-15.07.21 1,000,000 EUR 1,153,750.00 1,210,500.00 0.13 Greystar 8.25% 14-01.12.22 900,000 USD 822,606.60 850,135.88 0.09 Griffon 5.25% 14-01.03.22 5,225,000 USD 3,844,738.78 4,666,405.50 0.52 Grifols 3.2% 17-01.05.25 4,000,000 EUR 3,910,000.00 4,007,143.84 0.44 H&E Equip 7% 13-01.09.22 4,025,000 USD 3,306,732.74 3,669,676.51 0.41 Halcon 6.75% 17-15.02.25 144a 4,400,000 USD 4,125,257.83 3,471,552.56 0.38 Hanesbrand 3.5% 16-15.06.24 2,133,000 EUR 2,133,000.00 2,234,317.50 0.25 Hca 5.375% 15-01.02.25 3,975,000 USD 3,605,362.80 3,675,664.07 0.41 Hca Hldgs 6.25% 12-15.02.21 3,235,000 USD 2,640,877.38 3,098,305.86 0.34 Healthsouth 5.75% 12-01.11.24 475,000 USD 379,564.12 427,341.76 0.05 Hearthside 6.5% 14-01.05.22 2,000,000 USD 1,479,807.55 1,744,542.82 0.19 Heathrow Fi 5.75% 14-03.03.25* 3,100,000 GBP 3,947,034.70 3,990,175.57 0.44 Hellenic 2% 12-24.02.33 St-Up 3,000,000 EUR 2,305,500.00 2,316,900.00 0.26 Hema Bondco 6.25% 14-15.06.19 400,000 EUR 391,000.00 399,973.60 0.04 Hexion Us Finance 9% 11-15.11.20 3,450,000 USD 2,480,865.22 2,064,193.04 0.23 Hilcorp 5.75% 15-01.10.25 2,600,000 USD 2,341,498.55 2,148,242.31 0.24 Hn Pm /Hn 8.75% 16-01.11.24 275,000 USD 250,706.53 244,696.24 0.03 Horizon H.I 7.25% 15-01.08.23 2,000,000 EUR 2,000,000.00 2,118,200.00 0.23 Horizon Pha 6.625% 15-01.05.23 1,875,000 USD 1,724,629.04 1,545,103.88 0.17 Hot Topic 9.25% 15.06.21 144a 950,000 USD 709,965.90 799,509.07 0.09 Iamgold 7% 17-15.04.25 144a 2,300,000 USD 2,173,502.17 2,076,794.95 0.23 Ims Health 3.5% 16-15.10.24 1,550,000 EUR 1,550,000.00 1,608,191.70 0.18 In Justit 3.125% 15.07.24 Regs 700,000 EUR 700,000.00 697,270.00 0.08 In Justitia 2.75% 17-15.07.22 1,175,000 EUR 1,175,000.00 1,180,757.50 0.13 Incept 8.625% 16-15.11.24 144a 1,300,000 USD 1,196,943.19 1,213,728.41 0.13 Ineos G Sa 5.375% 16-01.08.24 2,775,000 EUR 2,775,000.00 2,933,516.41 0.32 Infor (Us) 5.75% 15-15.05.22 2,125,000 EUR 2,125,000.00 2,204,156.21 0.24 Infor Softw 7.125% 01.05.21 /Pik 4,290,000 USD 3,794,476.20 3,873,674.06 0.43 Ingles Mkt 5.75% 13-15.06.23 300,000 USD 231,320.84 258,722.71 0.03 Intelsat 5.5% 01.08.23 /Non Restri 3,536,000 USD 2,746,621.10 2,565,126.68 0.28 Intelsat 9.75% 17-15.07.25 144a 3,575,000 USD 3,200,823.71 3,130,122.95 0.35 Interval 5.625% 16-15.04.23 1,975,000 USD 1,814,590.22 1,791,991.76 0.20 Intl Wire 10.75% 16-01.08.21 2,375,000 USD 2,064,876.77 1,904,039.19 0.21 Italics Mrg 7.125% 15-15.07.23 2,400,000 USD 2,171,522.82 2,141,463.97 0.24 J2 Cld Sr 6% 17-15.07.25 144a 505,000 USD 452,549.51 454,584.12 0.05 Jag Ld Rov 2.2% 17-15.01.24 Regs 1,175,000 EUR 1,175,000.00 1,186,750.00 0.13 Jag Ld Rov 3.875% 15-01.03.23* 2,300,000 GBP 2,619,046.64 2,759,292.71 0.30 James Hardi 5.875% 15-15.02.23 1,325,000 USD 1,149,905.75 1,216,741.91 0.13 Jbs Usa 5.75% 15-15.06.25 1,575,000 USD 1,250,159.27 1,297,887.26 0.14 Jbs Usa 5.875% 14-15.07.24 3,000,000 USD 2,373,257.07 2,465,591.30 0.27 Jbs Usa 5.875% 14-15.07.24 500,000 USD 373,666.30 413,347.07 0.05 Jbs Usa 7.25% 11-01.06.21 1,000,000 USD 884,856.63 868,440.43 0.10 Jbs Usa 7.25% 11-01.06.21 750,000 USD 699,273.07 657,162.25 0.07 Jda Ecw /Fnc 7.375% 16-15.10.24 1,470,000 USD 1,330,103.05 1,340,229.68 0.15 Jerrold Fin 6.125% 15.01.24 Regs 975,000 GBP 1,147,868.48 1,124,537.95 0.12 Jerrold Fin 6.25% 16-15.09.21* 1,840,000 GBP 2,125,937.84 2,173,097.84 0.24 Jmc Steel 9.875% 16-15.06.23 1,725,000 USD 1,549,684.27 1,699,367.71 0.19 Kb Home 7% 13-15.12.21 1,850,000 USD 1,369,863.01 1,816,428.51 0.20 Kcg Hldgs 6.875% 15-15.03.20 2,400,000 USD 2,062,345.83 2,182,990.08 0.24 Kfc Pizza 5.25% 16-01.06.26 1,675,000 USD 1,500,761.58 1,545,487.42 0.17 Kindred Hlt 8% 15-15.01.20 1,250,000 USD 1,009,366.92 1,150,609.28 0.13 Kirk Beauty 8.75% 15-15.07.23 4,500,000 EUR 4,500,000.00 4,906,620.14 0.54 Landrys 6.75% 16-15.10.24 144a 1,600,000 USD 1,495,714.93 1,435,960.38 0.16 Laureate 8.25% 17-01.05.25 144a 6,600,000 USD 6,174,571.99 6,205,400.19 0.69 Lebanon 5.45% 11-28.11.19 1,385,000 USD 1,221,877.78 1,217,678.11 0.13 Lebanon 6% 11-20.05.19 1,000,000 USD 963,539.18 887,121.94 0.10 Lebanon 6.1% 10-04.10.22 S.1 1,500,000 USD 1,320,988.48 1,315,376.51 0.15 Liberty Media 8.25% 00-01.02.30 1,201,000 USD 1,036,703.77 1,125,141.27 0.12 Lkq Italia 3.875% 16-01.04.24* 1,000,000 EUR 1,000,000.00 1,080,500.03 0.12


112

UBI SICAV




Loxam 4.25% 17-15.04.24 Regs 700,000 EUR 700,000.00 738,155.59 0.08 Lpl Hldgs 5.75% 17-15.09.25 144a 1,525,000 USD 1,443,581.98 1,390,374.33 0.15 Lsf9 Balta 7.75% 15.09.22 Regs 324,380 EUR 334,111.40 353,120.07 0.04 Ltd Brands 6.75% 16-01.07.36 600,000 USD 517,057.09 504,953.10 0.06 Lundin Min 7.875% 14-01.11.22* 3,500,000 USD 2,514,322.80 3,344,437.63 0.37 Lynx I 7% 13-15.04.23 900,000 GBP 1,055,223.00 1,094,315.03 0.12 Mallinckrod 3.5% 13-15.04.18 975,000 USD 748,763.15 855,242.61 0.09 Mallinckrod 4.75% 13-15.04.23 1,325,000 USD 1,014,527.23 990,236.26 0.11 Manutencoop 8.5% 01.08.20 /Regs 1,142,000 EUR 1,161,739.21 1,168,266.03 0.13 Mariposa Borrow 8% 13-15.10.21 3,810,000 USD 2,644,396.51 1,845,380.03 0.20 Matthorn Te 4.875% 15-01.05.23 1,750,000 EUR 1,750,000.00 1,776,390.05 0.20 Meg Ener 6.375% 12-30.01.23 144a 3,200,000 USD 2,264,891.95 2,167,090.38 0.24 Meg Ener 6.5% 17-15.01.25 144a 2,425,000 USD 2,275,926.79 1,934,557.73 0.21 Mercer Intl 6.5% 17-01.02.24 144a 600,000 USD 555,144.34 549,236.43 0.06 Meritor 6.75% 13-15.06.21 2,775,000 USD 2,287,136.24 2,517,861.84 0.28 Mgm Resorts 6.625% 15.12.21 1,438,000 USD 1,144,032.41 1,415,056.55 0.16 Micron Tech 5.25% 15-15.01.24 2,500,000 USD 2,021,962.13 2,268,344.00 0.25 Millicom Ic 6.625% 13-15.10.21 1,000,000 USD 946,490.15 911,720.87 0.10 Millicom Ic 6.625% 13-15.10.21* 694,000 USD 653,429.51 628,171.30 0.07 Monitchem H 6.875% 14-15.06.22 1,200,000 EUR 1,200,000.00 1,200,000.00 0.13 Mpt Op Ptnr 3.325% 17-24.03.25 3,600,000 EUR 3,600,000.00 3,672,529.27 0.41 Mth 6% 15-01.06.25 1,350,000 USD 1,236,263.74 1,266,327.69 0.14 Nassa 2.875% 17-06.04.24 Regs 2,475,000 EUR 2,466,288.00 2,536,872.55 0.28 Naviera Arm Frn 16-31.07.23 3,525,000 EUR 3,489,750.00 3,771,045.00 0.42 Navios 7.375% 13-15.01.22 1,175,000 USD 872,956.91 795,728.50 0.09 Ncx 5.25% 17-01.06.27 3,075,000 USD 2,742,108.08 2,682,234.59 0.30 Nemean 7.375% 17-01.02.24 Regs 3,000,000 GBP 3,460,209.00 3,331,687.06 0.37 Nemean Frn 17-01.02.23 1,500,000 GBP 1,730,104.50 1,678,981.93 0.19 Netflix 3.625% 17-15.05.27 Regs 4,000,000 EUR 4,000,000.00 4,060,000.00 0.45 New Gold 6.25% 12-15.11.22 144a 1,571,000 USD 1,235,867.28 1,415,098.19 0.16 New Home Co 7.25% 17-01.04.22 825,000 USD 766,023.88 748,553.52 0.08 Newfield Expl 5.75% 11-30.01.22 1,000,000 USD 850,053.61 922,679.06 0.10 Noble Hldg 7.75% 16-15.01.24 1,425,000 USD 1,310,909.05 988,455.55 0.11 Novelis 5.875% 16-30.09.26 2,025,000 USD 1,800,960.51 1,828,482.51 0.20 Nrg Energy 6.25% 14-01.05.24 4,942,000 USD 3,707,497.42 4,375,751.73 0.48 Nrg Energy 6.25% 14-15.07.22 1,920,000 USD 1,420,252.32 1,727,360.39 0.19 Nrg Energy 7.25% 16-15.05.26 3,225,000 USD 2,829,195.54 2,926,163.76 0.32 Nrg Energy 7.875% 11-15.05.21 729,000 USD 558,040.72 658,164.23 0.07 Numericable Gp 5.625% 15.05.24* 3,750,000 EUR 3,750,000.00 4,040,625.00 0.45 Numericable Gp 7.375% 01.05.26 3,270,000 USD 2,928,984.37 3,110,326.99 0.34 Nyrstr Nt 6.875% 15.03.24 Regs 1,775,000 EUR 1,775,000.00 1,796,548.45 0.20 Omega Us Su 8.75% 15-15.07.23 2,700,000 USD 2,412,006.43 2,503,068.29 0.28 Onemain Fin 6.75% 14-15.12.19 950,000 USD 772,797.53 874,463.05 0.10 Onemain Fin 7.25% 14-15.12.21 1,175,000 USD 1,003,347.21 1,084,920.41 0.12 Onex Wizard 7.75% 15-15.02.23 1,500,000 EUR 1,500,000.00 1,595,940.06 0.18 Onorato Arm 7.75% 16-15.02.23* 3,525,000 EUR 3,520,875.00 3,438,849.00 0.38 Orchestr 6.75% 17-15.06.22 144a 500,000 USD 443,419.65 451,652.49 0.05 Pdvsa 6% 14-16.05.24 /Pool 1,500,000 USD 523,053.60 489,317.96 0.05 Pdvsa 8.5% 16-27.10.20 /Pool 5,269,000 USD 6,960,864.12 3,303,991.41 0.37 Pdvsa 9.75% 12-17.05.35 Pool 2,000,000 USD 754,164.79 810,905.58 0.09 Peabody 6.375% 17-31.03.25 144a 975,000 USD 910,534.18 841,917.24 0.09 Pemex 3.75% 17-21.02.24 2,400,000 EUR 2,387,112.00 2,484,460.87 0.27 Pemex 6.5% 11-02.06.41 1,000,000 USD 921,075.99 870,518.13 0.10 Petbra 5.375% 11-27.01.21 2,290,000 USD 1,691,757.17 2,041,065.09 0.23 Petro Gbl Fin 4.375% 13-20.05.23 3,000,000 USD 2,507,188.04 2,480,056.18 0.27 Petrobras 5.625% 20.05.43 2,000,000 USD 1,159,114.86 1,454,808.42 0.16 Petrobras 7.375% 17-17.01.27 705,000 USD 667,803.35 653,887.98 0.07 Petrobras 8.375% 16-23.05.21 3,440,000 USD 3,422,033.19 3,375,705.57 0.37 Petrobras 8.75% 16-23.05.26* 10,100,000 USD 9,995,768.71 10,182,344.17 1.13 Petrol Venez 5.5% 07-12.04.37 2,045,000 USD 695,061.83 640,911.28 0.07 Petroleos 8.5% 10-02.11.17 1,800,000 USD 1,337,141.34 1,368,265.10 0.15


113

UBI SICAV




Petsmart 5.875% 17-01.06.25 1,850,000 USD 1,641,309.21 1,563,020.51 0.17 Pilgrims Pr 5.75% 15-15.03.25 1,375,000 USD 1,242,207.97 1,208,413.69 0.13 Plastipak 6.5% 13-01.10.21 2,125,000 USD 1,573,025.39 1,923,435.17 0.21 Post Hldg 5% 16-15.08.26 825,000 USD 751,708.43 721,432.02 0.08 Pq Corp 6.75% 16-15.11.22 1,025,000 USD 906,357.77 965,963.88 0.11 Pspc Escrow 6% 15-01.02.23 2,050,000 EUR 2,050,000.00 2,149,424.96 0.24 Pultegroup 5.5% 16-01.03.26 3,350,000 USD 3,036,070.33 3,118,404.49 0.34 Pvh Corp 3.625% 16-15.07.24 3,600,000 EUR 3,600,000.00 3,835,580.40 0.42 Qep Res 5.25% 12-01.05.23 820,000 USD 650,766.78 679,319.72 0.08 Rain Cii 7.25% 17-01.04.25 144a 2,740,000 USD 2,534,848.79 2,480,099.94 0.27 Range Resou 5.875% 16-01.07.22 3,050,000 USD 2,728,085.87 2,713,903.74 0.30 Regal Enter 5.75% 13-01.02.25 Sr 450,000 USD 396,543.13 407,315.68 0.05 Reliant Egy 9.237% 01-02.07.17 158,523 USD 146,429.00 137,579.85 0.02 Reliant Egy 9.681% 01-02.07.26 2,475,000 USD 2,057,668.36 1,627,290.26 0.18 Rep of Bela 6.875% 17-28.02.23 1,600,000 USD 1,417,532.04 1,431,401.77 0.16 Rhp 5% 13-15.04.21 5,225,000 USD 4,024,343.83 4,681,475.41 0.52 Rite Aid 6.125% 15-01.04.23 5,000,000 USD 4,692,869.77 4,303,804.51 0.48 Rocfin 6.75% 16-15.11.21 144a 1,425,000 USD 1,290,176.55 1,305,448.41 0.14 Rockies Exp 5.625% 10-15.04.20 2,225,000 USD 1,563,111.89 2,072,466.47 0.23 Ruby Tuesday 7.625% 12-15.05.20 675,000 USD 603,238.89 562,456.61 0.06 Sabra Hlth 5.375% 13-01.06.23 2,025,000 USD 1,588,332.55 1,837,358.64 0.20 Sberbank 6.125% 12-07.02.22 Loan 2,000,000 USD 1,839,398.73 1,909,704.57 0.21 Schaef 3.25% 16-15.09.23 /Pik 2,050,000 EUR 2,050,000.00 2,101,250.00 0.23 Schaef 3.75% 16-15.09.26 /Pik* 3,015,000 EUR 3,015,000.00 3,143,137.50 0.35 Sci Games 6.625% 15-15.05.21 4,525,000 USD 3,697,633.03 3,947,028.14 0.44 Sci Games 7% 14-01.01.22 1,875,000 USD 1,847,118.96 1,750,569.83 0.19 Sci Games 10% 14-01.12.22 2,550,000 USD 1,836,036.77 2,450,633.38 0.27 Sealed Air 4.5% 15-15.09.23 1,000,000 EUR 1,000,000.00 1,122,300.03 0.12 Sealed Air 4.875% 14-01.12.22 1,000,000 USD 805,477.25 933,637.24 0.10 Select Med 6.375% 13-01.06.21 2,600,000 USD 1,965,204.96 2,341,982.99 0.26 Sesi Llc 6.375% 11-01.05.19 875,000 USD 696,420.32 756,771.06 0.08 Signode Ind 6.375% 14-01.05.22 3,725,000 USD 2,734,824.74 3,412,487.95 0.38 Silgan Hldg 3.25% 17-15.03.25 3,000,000 EUR 3,000,000.00 3,063,792.12 0.34 Sinclair 5.875% 16-15.03.26 725,000 USD 658,372.68 649,875.08 0.07 Siwf Mrg Sub 6.25% 01.06.21 2,500,000 USD 2,164,370.66 2,265,604.45 0.25 Slvrsea C 7.25% 17-01.02.25 144a 1,450,000 USD 1,364,577.45 1,355,362.94 0.15 Snai Spa 6.375% 16-07.11.21* 1,075,000 EUR 1,075,000.00 1,150,336.03 0.13 Snc /Snc Fin 6.375% 16-01.04.23 3,725,000 USD 3,419,941.24 3,431,428.13 0.38 Snoco 5.5% 16-01.08.20 1,425,000 USD 1,300,419.78 1,280,463.75 0.14 Spectrum Br 4% 16-01.10.26 2,500,000 EUR 2,500,000.00 2,596,902.48 0.29 Spie Sa 3.125% 17-22.03.24 800,000 EUR 800,000.00 833,088.02 0.09 Sprint Cap. Corp 6.875% 15.11.28 9,350,000 USD 7,179,892.30 9,111,229.34 1.01 Sprint Corp 7.625% 15-15.02.25 5,390,000 USD 5,543,707.24 5,439,850.53 0.60 Stonegate 4.875% 17-15.03.22 Regs 2,150,000 GBP 2,507,873.95 2,495,434.16 0.28 Stoneway 10% 01.03.27 /Pool Regs 4,030,000 USD 3,788,514.80 3,728,536.07 0.41 Suburb Prop 5.5% 14-01.06.24 900,000 USD 654,212.40 785,044.27 0.09 Summit Mat 5.125% 17-01.06.25 144a 550,000 USD 491,730.00 494,214.08 0.05 Summit Mat 6.125% 15-15.07.23 2,525,000 USD 2,257,487.71 2,318,696.85 0.26 Susano Aust 5.75% 16-14.07.26 2,250,000 USD 2,012,788.97 2,034,862.37 0.22 Svu 6.75% 13-01.06.21 1,350,000 USD 928,162.19 1,159,814.15 0.13 Svu 7.75% 14-15.11.22 475,000 USD 407,935.76 404,959.67 0.04 Swissport I 6.75% 15-15.12.21 2,087,000 EUR 2,141,697.50 2,235,147.82 0.25 Swissport I 9.75% 15-15.12.22 975,000 EUR 975,000.00 1,086,150.02 0.12 T-Mobile Us 6.5% 15-15.01.26 525,000 USD 475,715.84 507,993.99 0.06 Ta Manufact 3.625% 15-15.04.23* 1,500,000 EUR 1,500,000.00 1,543,871.96 0.17 Talk Talk 5.375% 17-15.01.22 2,875,000 GBP 3,298,632.27 3,379,753.11 0.37 Tallgrass 5.5% 16-15.09.24 2,125,000 USD 1,875,717.19 1,886,177.35 0.21 Targa Res 5.125% 16-01.02.25 425,000 USD 378,046.61 383,755.59 0.04 Targa Res 5.375% 16-01.02.27 425,000 USD 378,046.61 385,618.48 0.04 Taymor /Mon 5.625% 14-01.03.24 1,902,000 USD 1,701,907.39 1,742,430.09 0.19 Teck Res 4.75% 11-15.01.22 3,265,000 USD 2,655,210.47 2,962,457.26 0.33


114

UBI SICAV




Teck Res 6.25% 11-15.07.41 1,319,000 USD 991,355.53 1,199,669.06 0.13 Teleflex 5.25% 14-15.06.24 1,650,000 USD 1,203,852.33 1,497,107.04 0.17 Tenedora Ne 5.5% 13-28.02.23 1,300,000 USD 1,217,610.03 1,177,453.32 0.13 Tenedora Ne 5.5% 28.02.23 144a 2,100,000 USD 1,911,615.24 1,891,601.65 0.21 Tenet Hlthc 4.375% 13-01.10.21 3,475,000 USD 2,701,337.06 3,092,070.66 0.34 Tenet Hlthc 4.5% 13-01.04.21 2,400,000 USD 2,203,152.05 2,139,865.00 0.24 Tenet Hlthc 6.75% 15-15.06.23 1,350,000 USD 1,244,954.95 1,183,483.83 0.13 Tenet Hlthc 8.125% 13-01.04.22 2,025,000 USD 1,952,426.86 1,883,958.32 0.21 Tereos Fin 4.125% 16-16.06.23* 3,000,000 EUR 2,977,710.00 3,055,499.94 0.34 Tesco Plc 5% 06-24.03.23 1,434,000 GBP 1,710,068.02 1,800,468.95 0.20 Tesoro 6.125% 13-15.10.21 2,000,000 USD 1,508,864.58 1,820,057.86 0.20 Tpc Group 8.75% 15.12.20 144a 5,720,000 USD 4,585,282.80 4,513,018.32 0.50 Tps Hldg 8% 15-15.06.22 1,375,000 USD 1,253,989.96 989,934.91 0.11 Transdigm 6.5% 14-15.07.24 1,275,000 USD 930,860.77 1,154,061.10 0.13 Transdigm 6.5% 15-15.05.25 1,200,000 USD 1,129,505.64 1,072,478.30 0.12 Travis Perk 4.5% 16-07.09.23 1,175,000 GBP 1,489,278.59 1,378,019.47 0.15 Tribune 5.875% 16-15.07.22 2,150,000 USD 1,913,662.66 1,974,335.93 0.22 Tronox Fin 6.375% 12-15.08.20 1,160,000 USD 1,043,864.23 1,019,461.73 0.11 Turkey 3.25% 13-23.03.23 1,750,000 USD 1,493,823.45 1,439,013.39 0.16 Turkey 6.25% 12-26.09.22 3,480,000 USD 3,477,741.02 3,314,465.77 0.37 Turkey 6.875% 06-17.03.36 3,000,000 USD 3,160,432.10 2,956,605.54 0.33 Turkey Rep 5.75% 14-22.03.24 3,000,000 USD 2,870,713.62 2,781,186.99 0.31 Turkiy 6.125% 17-25.04.24 Regs 1,750,000 USD 1,625,185.74 1,552,708.86 0.17 Turkiye 6.125% 17-24.05.27 Regs 1,560,000 USD 1,407,307.17 1,354,179.01 0.15 Tvl Finance 8.5% 16-15.05.23 900,000 GBP 1,100,950.62 1,135,715.21 0.13 Ukraine 7.75% 15-01.09.19 2,603,000 USD 2,228,562.82 2,356,779.52 0.26 Ukraine 7.75% 15-01.09.20 377,000 USD 395,241.41 338,430.79 0.04 Ukraine 7.75% 15-01.09.21 377,000 USD 392,737.73 335,786.80 0.04 Ukraine 7.75% 15-01.09.22 2,377,000 USD 2,229,265.99 2,096,102.66 0.23 Ukraine 7.75% 15-01.09.23 377,000 USD 387,717.85 327,193.83 0.04 Ukraine 7.75% 15-01.09.24 377,000 USD 384,817.11 324,285.44 0.04 Ukraine 7.75% 15-01.09.25 377,000 USD 383,525.56 322,632.94 0.04 Ukraine 7.75% 15-01.09.26 377,000 USD 381,924.72 321,244.85 0.04 Ukraine 7.75% 15-01.09.27 377,000 USD 379,976.95 320,484.70 0.04 Ukraine Frn 15-31.05.40 768,000 USD - 261,633.03 0.03 Unitym Nrw 3.5% 15-15.01.27 450,000 EUR 450,000.00 463,815.00 0.05 Unitym Nrw 4% 14-15.01.25 3,700,000 EUR 3,595,000.00 3,899,059.89 0.43 Unitymedia 4.625% 15-15.02.26 2,300,000 EUR 2,469,625.00 2,494,764.05 0.28 Upcb Financ 4% 15-15.01.27 1,300,000 EUR 1,315,600.00 1,352,650.04 0.15 Us Concr 6.375% 16-01.06.24 1,950,000 USD 1,740,915.99 1,803,497.85 0.20 Utd Rentals 5.5% 16-15.05.27 2,125,000 USD 1,952,048.50 1,918,777.94 0.21 Utd Rentals 5.75% 14-15.11.24 1,100,000 USD 816,665.47 1,010,125.36 0.11 Utd Rentals 6.125% 12-15.06.23 1,825,000 USD 1,425,846.04 1,665,890.47 0.18 Valeant 6.5% 17-15.03.22 144a 850,000 USD 803,250.80 781,482.86 0.09 Veb Finance 6.025% 12-05.07.22 1,500,000 USD 1,425,597.39 1,409,134.74 0.16 Vector 6.125% 17-01.02.25 144a 1,475,000 USD 1,389,804.96 1,343,171.96 0.15 Venezuela 6% 05-09.12.20 Regs 685,000 USD 288,499.73 271,369.77 0.03 Venezuela 12.75% 10-23.08.22 655,000 USD 392,413.34 308,637.24 0.03 Verisure 6% 15-01.11.22 1,980,000 EUR 2,039,400.00 2,154,537.04 0.24 Viking 6.25% 15-15.05.25 975,000 USD 871,391.54 861,148.86 0.10 Viking 8.5% 12-15.10.22 144a 1,700,000 USD 1,376,950.96 1,564,828.61 0.17 Vimpelc 4.95% 17-16.06.24 Regs 2,500,000 USD 2,230,549.61 2,191,636.71 0.24 Vizient Inc 10.375% 01.03.24 2,825,000 USD 2,631,401.40 2,848,031.91 0.31 Votora 6.75% 10-05.04.21 144a 2,000,000 USD 1,751,521.12 1,871,009.03 0.21 Votorantim 6.75% 10-05.04.21 Regs 1,000,000 USD 862,979.92 935,828.88 0.10 Voyage 5.875% 01.05.23 Regs 2,125,000 GBP 2,539,740.50 2,525,147.08 0.28 Vpi Escrow Corp 6.375% 15.10.20 2,375,000 USD 2,014,032.05 2,016,990.66 0.22 Vpii Escrow 7.5% 13-15.07.21 144a 2,225,000 USD 1,749,075.93 1,889,601.78 0.21 Vrx Escrow 6.125% 15-15.04.25 5,025,000 USD 4,728,634.56 3,727,891.86 0.41 Vtr Fin 6.875% 14-15.01.24 8,001,000 USD 6,372,713.11 7,434,960.99 0.82 Wagamama 4.125% 17-01.07.22 1,475,000 GBP 1,678,998.40 1,672,998.78 0.18


115

UBI SICAV




Western Dig 10.5% 16-01.04.24 4,665,000 USD 4,107,960.54 4,824,412.46 0.53 Western Ref 7.5% 15-15.02.23 1,150,000 USD 1,013,573.07 1,086,284.74 0.12 William H 4.875% 16-07.09.23 2,550,000 GBP 3,300,118.20 2,976,790.01 0.33 Wind Acq 7.375% 14-23.04.21 2,475,000 USD 1,793,998.26 2,256,509.16 0.25 Wlh Acq 7% 14-15.08.22 2,210,000 USD 2,063,455.04 2,005,216.10 0.22 Wmg Acq 4.125% 16-01.11.24 925,000 EUR 925,000.00 975,875.00 0.11 Wokacq /Pfchangs 10.25% 30.06.20 1,345,000 USD 1,108,217.31 1,202,682.56 0.13 Worldpay Fi 3.75% 15-15.11.22 1,500,000 EUR 1,496,250.00 1,628,970.00 0.18 Wpx Energy 5.25% 14-15.09.24 500,000 USD 380,546.46 416,410.98 0.05 Wpx Energy 6% 11-15.01.22 2,125,000 USD 1,778,610.57 1,836,326.38 0.20 Wpx Energy 8.25% 15-01.08.23 100,000 USD 92,123.45 95,117.03 0.01 Xpo 5.75% 15-15.06.21 1,750,000 EUR 1,715,000.00 1,821,049.97 0.20 Xpo 6.125% 16-01.09.23 3,200,000 USD 3,103,511.67 2,921,013.41 0.32 Ypfdar 8.5% 16-23.03.21 2,450,000 USD 2,462,903.22 2,394,801.44 0.26 Ypfdar 8.5% 16-23.03.21 144a 3,000,000 USD 3,018,491.66 2,925,282.62 0.32 Zayo 5.75% 17-15.01.27 144a 605,000 USD 590,022.51 554,905.98 0.06 Zf Na Capit 4.75% 15-29.04.25 1,100,000 USD 1,006,597.26 1,017,357.76 0.11 Zodiak Medi 4% 17-01.07.22 450,000 EUR 450,000.00 456,795.00 0.05

831,661,311.12 853,099,658.92 94.27




Obbligazioni Afren 11.5% 11-01.02.16 2,014,126 USD 1,812,056.66 2,560.25 - Alliance 7.5% 17-01.05.25 1,175,000 USD 1,106,611.41 1,082,860.31 0.12 Ard 7.375% 17-15.09.23 /Pik Regs 3,000,000 EUR 3,000,000.00 3,182,243.97 0.35 Beazer 6.75% 17-15.03.25 144a 1,150,000 USD 1,086,751.09 1,050,999.39 0.12 Carrizo 8.25% 17-15.07.25 550,000 USD 481,274.06 493,008.68 0.05 Enpro Indus 5.875% 17-15.09.22 800,000 USD 747,386.92 731,130.01 0.08 Exela In 10% 17-15.07.23 144a 3,735,000 USD 3,260,601.25 3,233,376.44 0.36 Ferrellgas 8.625% 16-15.06.20 2,300,000 USD 2,055,940.97 1,905,408.96 0.21 Gbl Tele 7.875% 16-31.12.24 144a 650,000 USD 614,410.56 609,713.33 0.07 Hexion 10.375% 17-01.02.22 144a 3,360,000 USD 3,119,474.86 2,916,104.15 0.32 Kraton Pol 7% 17-15.04.25 144a 600,000 USD 558,503.21 552,292.45 0.06 Orbcomm 8% 17-01.04.24 2,275,000 USD 2,127,648.42 2,089,122.91 0.23 Surgery 6.75% 17-01.07.25 500,000 USD 447,667.65 443,806.43 0.05 Vm Holding 5.375% 17-04.05.27 2,245,000 USD 2,041,711.14 1,979,701.50 0.22 Xplornet 9.625% 01.06.22 /Pik 2,575,000 USD 2,341,899.55 2,347,681.25 0.26

24,801,937.75 22,620,010.03 2.50

Warrant Fairpoint Comm 24.01.18 Wrt 1 USD 0.59 - -

0.59 - -


TOTALE DEGLI INVESTIMENTI 856,463,249.46 875,719,668.95 96.77 Le note allegate formano parte integrante del rendiconto finanziario.

116

UBI SICAV




Holding e Società Finanziarie 25.28 Stati Uniti d’America 52.58

Stati, Province e Municipalità 7.52 Gran Bretagna 6.14

Petrolio 6.91 Lussemburgo 5.45

Comunicazioni 6.88 Canada 4.87

Servizi Pubblici 6.77 Paesi bassi 4.40

Educazione Sanitaria e Servizi Sociali 4.29 Argentina 3.27

Software e Servizi Internet 4.27 Irlanda 2.29

Varie 4.15 Francia 1.98

Costruzioni e Materiali da Costruzione 3.45 Germania 1.88

Imballaggio e Container 2.69 Turchia 1.63

Altri servizi 2.63 Jersey 1.37

Chimica 2.59 Messico 1.14

Intrattenimento 2.46 Spagna 1.12

Farmaceutica e Cosmetica 1.70 Brasile 1.09

Retail 1.66 Ucraina 0.80

Miniere e industrie pesanti 1.53 Venezuela 0.79

Industria Automobilistica 1.36 Italia 0.76

Trasporti 1.35 Repubblica Dominicana 0.68

Metalli Preziosi 0.91 Isole Cayman 0.57

Cibo e bevande 0.90 Barbados 0.56

Meccanica e macchinari 0.87 Bermuda 0.56

Computer e materiale d’ufficio 0.67 Egitto 0.45

Tecnologia Aerospaziale 0.64 Svezia 0.45

Beni di consumo 0.61 Libano 0.38

Banche e Istituzioni Finanziarie 0.57 Austria 0.35

Società Immobiliari 0.48 Norvegia 0.28

Pesca e Agricoltura 0.47 Grecia 0.26

Biotecnologia 0.44 Australia 0.17

Tessile 0.42 Russia Bianca 0.16

Industrie cartarie e prodotti forestali 0.32 Bahamas 0.15

Elettronica e apparecchiature elettriche 0.29 Bulgaria 0.10

Arti grafiche e editoria 0.29 Isole Marshall 0.09

Semiconduttori elettronici 0.25 Cassa e Altre Attività / (Passività) 3.23


Beni d’investimento 0.23


Fotografia e ottica 0.17

Servizi per l’Ambiente e Riciclaggio 0.16 Tabacco e alcolici 0.15


100.00

100.00

117

UBI SICAV




netto


Obbligazioni Ab Inbev 0.625% 16-17.03.20 200,000 EUR 203,937.00 202,621.99 0.19 Abbey Natl 2.625% 13-16.07.20 100,000 EUR 107,685.00 106,986.20 0.10 Abbvie 0.375% 16-18.11.19 200,000 EUR 201,746.00 200,883.61 0.19 Abn Amro 2.875% 15-30.06.25 200,000 EUR 210,350.00 210,993.19 0.20 Arrfp 4.875% 11-21.01.19 100,000 EUR 109,539.00 107,436.60 0.10 Atlim 3.625% 12-30.11.18 100,000 EUR 108,097.50 105,047.80 0.10 Axa Sa Frn 07-Perp 200,000 EUR 208,450.00 202,720.00 0.19 Bafc Frn 16-26.07.19 200,000 EUR 201,228.00 201,100.00 0.19 Banco Pop 2.375% 14-22.01.18 200,000 EUR 200,627.00 202,060.00 0.19 Barclays Bk 6% 08-23.01.18 200,000 EUR 212,765.00 206,580.00 0.19 Bat Intl 0.375% 15-13.03.19 200,000 EUR 200,614.00 200,856.80 0.19 Bbvasm 3.5% 14-11.04.24 200,000 EUR 208,038.00 210,101.59 0.20 Bfcm Frn 16-03.06.20 200,000 EUR 201,260.00 201,440.00 0.19 Bg Energy 6.5% (Frn) 12-30.11.72 200,000 EUR 210,937.00 204,960.00 0.19 Bk of Amer 0.523% (Tv) 06-28.03.18 200,000 EUR 199,285.00 200,340.00 0.19 Bmw Fin 0.125% 16-15.04.20 100,000 EUR 100,623.00 100,044.40 0.09 Bmw Us Cap Frn 15-18.03.19 200,000 EUR 199,855.00 200,740.00 0.19 Bnpp 2% 13-28.01.19 Emtn 100,000 EUR 104,379.33 103,225.20 0.10 Bnpp 7.781% 08-Perp 100,000 EUR 109,360.00 107,294.90 0.10 Bnpp Frn 17-22.09.22 Regs 200,000 EUR 200,000.00 203,280.00 0.19 Bpce 0.625% 16-20.04.20 200,000 EUR 201,258.00 202,719.60 0.19 Bpce 6.117% 07-Perp 150,000 EUR 156,450.00 152,895.00 0.14 Bpcm 2.994% 12-18.02.19 200,000 EUR 214,132.00 209,496.80 0.19 Carrefour 1.75% 13-22.05.19 200,000 EUR 208,733.00 206,041.60 0.19 Citigp Frn 16-24.05.21 200,000 EUR 204,192.00 203,880.00 0.19 Comzbk 7.75% 11-16.03.21 /Sub 100,000 EUR 122,530.00 122,308.00 0.11 Cont Rubber 0.5% 15-19.02.19 200,000 EUR 201,975.00 201,397.99 0.19 Cr Agr 3.875% 12-13.02.19 200,000 EUR 215,908.00 212,654.01 0.20 Credit Agrico Frn 08-Perp 200,000 EUR 216,480.00 211,540.00 0.20 Cs 5.75% (Frn) 13-18.09.25 Regs 200,000 EUR 225,625.00 225,420.00 0.21 Cs Ag Ldn 0.625% 14-20.11.18 300,000 EUR 302,969.70 302,662.49 0.28 Daimler 0.625% 15-05.03.20 300,000 EUR 304,038.60 303,767.99 0.28 Daimler Ag 2% 13-07.04.20 200,000 EUR 211,266.00 210,100.01 0.20 Danone Frn 15-14.01.20 100,000 EUR 100,043.75 100,400.00 0.09 Delhaize Grp 4.25% 11-19.10.18 100,000 EUR 108,373.50 105,280.00 0.10 Deut Bk 1% 16-18.03.19 200,000 EUR 200,165.00 202,729.00 0.19 Deut Bk 5% 10-24.06.20 100,000 EUR 110,930.00 110,092.30 0.10 Deut Tel If Frn 16-03.04.20 200,000 EUR 200,794.67 201,180.00 0.19 Dnb Bank As 3% 13-26.09.23 100,000 EUR 104,238.00 103,235.00 0.10 Dong Energy 4.875% /Frn Perp 100,000 EUR 105,500.00 104,246.00 0.10 Dsk Bk 3.875% (Frn) 13-04.10.23 100,000 EUR 105,678.00 104,313.80 0.10 Dt An Fin 4.625% 14-08.04.74* 200,000 EUR 209,500.00 211,644.00 0.20 Dvb Bank Se 1.25% 15-22.04.20 100,000 EUR 102,901.00 102,352.80 0.10 Edf Frn 13-Pert /Ftf Emtn 100,000 EUR 103,524.50 106,100.00 0.10 Edison 3.875% 10-10.11.17 100,000 EUR 102,812.00 101,290.00 0.09 Edp Fin Bv 5.75% 12-21.09.17 100,000 EUR 103,660.00 101,240.00 0.09 Efsf 1.625% 12-15.09.17 1,500,000 EUR 1,569,750.00 1,506,300.00 1.40 Enel 5% 14-15.01.75 100,000 EUR 106,750.00 108,418.80 0.10 Eni 4.125% 09-16.09.19 200,000 EUR 219,836.00 217,424.00 0.20 Everything 3.25% 12-03.08.18 200,000 EUR 208,860.00 206,900.41 0.19 Fce Bk Frn 15-17.09.19 200,000 EUR 200,916.99 202,720.00 0.19 Fce Bk Frn 17-26.08.20 Regs 100,000 EUR 100,000.00 100,310.00 0.09 Fga Cap Ie 1.375% 15-17.04.20 100,000 EUR 101,810.00 102,368.00 0.10 Fga Cap Ie 4% 13-17.10.18 300,000 EUR 319,416.00 315,043.51 0.29 Fiat Ft 6.625% 13-15.03.18 100,000 EUR 106,350.00 104,190.00 0.10 Gdf 3.875% Ftf 13-Perp 200,000 EUR 206,370.00 206,500.00 0.19 Ge Cap Eur 5.375% 09-23.01.20 200,000 EUR 228,480.00 226,650.21 0.21 Gen Elec Frn 15-28.05.20 100,000 EUR 99,764.50 100,440.00 0.09


118

UBI SICAV




Glencore Fin 4.625% 03.04.18 200,000 EUR 213,965.33 206,620.00 0.19 Gs 0.75% 16-10.05.19 100,000 EUR 101,385.00 101,247.10 0.09 Gs Frn 16-27.07.21 100,000 EUR 102,475.00 102,050.00 0.09 Gs Frn 17-09.09.22 200,000 EUR 200,000.00 200,120.00 0.19 Heidlrg 7.5% 10-03.04.20 200,000 EUR 242,772.00 239,637.60 0.22 Hsbc Hldg 1.5% 16-15.03.22 200,000 EUR 208,270.00 208,209.79 0.19 Hsbc Hldg 3.375% /Frn 13-10.01.24 300,000 EUR 316,148.00 313,688.39 0.29 Hutchison Wh Frn (3.75%) 13-Perp 200,000 EUR 205,740.00 204,440.00 0.19 Iberdrola 5.75% (Frn) 13-Perp 200,000 EUR 210,600.00 207,040.00 0.19 Imperial Tob 4.5% 11-05.07.18 100,000 EUR 108,464.50 104,535.80 0.10 Ing Bank 6.125% (Tv) 08-29.05.23 200,000 EUR 216,105.00 210,460.00 0.20 Ing Nv 1.25% 14-13.12.19 100,000 EUR 103,129.50 102,962.70 0.10 Intesa San 1.125% 15-14.01.20 100,000 EUR 102,290.00 102,217.20 0.10 Intesa San 4.375% 12-15.10.19 200,000 EUR 220,240.01 218,838.00 0.20 Intesa Sanp. 8.047% (Frn) 08-Perp. 100,000 EUR 106,980.00 106,125.00 0.10 Is Vita 5.35% 13-18.09.18 /Sub 200,000 EUR 215,804.00 211,708.40 0.20 Italy 0% 16-28.12.18 Ctz 8,000,000 EUR 7,997,660.00 8,017,680.08 7.47 Italy 0.35% 17-15.06.20 /Btp 4,000,000 EUR 3,986,260.00 4,011,575.92 3.74 Italy 0.7% 15-01.05.20 /Btp 5,000,000 EUR 5,077,475.00 5,068,600.10 4.72 Italy 1.35% 15-15.04.22 /Btp 4,000,000 EUR 4,049,000.00 4,091,080.00 3.81 Italy 1.65% 14-23.04.20 /Btp 3,500,000 EUR 3,672,910.72 3,684,139.45 3.43 Italy 2.05% 17-01.08.27 /Btp 1,500,000 EUR 1,482,105.00 1,486,200.00 1.38 Italy 2.15% 13-12.11.17 Infl 5,000,000 EUR 5,142,775.25 5,059,408.45 4.71 Italy 3.45% 17-01.03.48 Btp 900,000 EUR 898,343.96 914,670.00 0.85 Italy 3.5% 13-01.12.18 2,000,000 EUR 2,111,180.00 2,105,287.94 1.96 Italy 4.5% 04-01.02.20 /Btp 5,000,000 EUR 5,576,650.00 5,559,190.00 5.18 Italy 5 % 11-01.03.22 Btp 4,000,000 EUR 4,724,920.00 4,763,752.12 4.44 Italy Frn 11-15.04.18 6,500,000 EUR 6,602,384.97 6,554,119.00 6.10 Italy Frn 13-01.11.18 6,500,000 EUR 6,725,745.00 6,658,411.50 6.20 Kbc 2.375% 14-25.11.24 100,000 EUR 104,170.00 104,120.00 0.10 Lloyds 6.5% 10-24.03.20 200,000 EUR 234,720.00 232,076.00 0.22 Lvmh 0% 17-26.05.20 Regs 200,000 EUR 199,478.00 199,675.60 0.19 Mediobanca 0.75% 17-17.02.20 100,000 EUR 99,806.00 100,789.80 0.09 Mediobca 2.25% 14-18.03.19 100,000 EUR 103,900.00 103,542.70 0.10 Mor St Frn 14-19.11.19 200,000 EUR 202,300.00 202,060.00 0.19 Nat Aus Bk 2% 14-12.11.24 100,000 EUR 103,448.00 102,325.00 0.10 Nationwide 4.125% 20.03.23 Emtn 200,000 EUR 206,738.00 205,240.00 0.19 Nomura Euro 1.125% 15-03.06.20 100,000 EUR 102,517.00 102,121.00 0.09 Nordea Se 4% 10-29.06.20 100,000 EUR 112,500.00 111,570.10 0.10 Nykredit 0.875% 16-13.06.19 200,000 EUR 202,972.00 202,450.81 0.19 Orange 1.875% 13-03.09.18 Emtn 100,000 EUR 103,695.00 102,221.80 0.10 Orange 4.25% 14-Perp 100,000 EUR 105,840.00 107,120.00 0.10 Pemex 3.75% 16-15.03.19 100,000 EUR 104,820.00 105,250.00 0.10 Psa Banque 0.5% 17-17.01.20 100,000 EUR 100,700.00 100,515.00 0.09 Rabobk 4.125% 10-14.01.20 200,000 EUR 223,169.00 220,326.00 0.21 Rabobk 6.875% 10-19.03.20 200,000 EUR 237,150.00 234,700.00 0.22 Rbs Grp 1.625% 14-25.06.19 100,000 EUR 102,865.00 102,694.90 0.10 Rbs Plc Frn 17-08.06.20 200,000 EUR 200,000.00 200,540.00 0.19 Rci Bq 0.375% 16-10.07.19 100,000 EUR 100,601.00 100,515.40 0.09 Rci Bq Frn 16-18.03.19 100,000 EUR 101,381.00 101,140.00 0.09 Sanofi 0% 16-13.01.20 200,000 EUR 200,610.00 199,650.41 0.19 Sant Id Frn 15-04.03.20 200,000 EUR 201,708.00 201,560.00 0.19 Santan Cons 1.1% 15-30.07.18 200,000 EUR 203,576.00 202,466.00 0.19 Santander 0.375% 17-17.02.20 100,000 EUR 100,638.00 100,357.80 0.09 Seb 4% 12-12.09.22 200,000 EUR 204,382.00 201,480.00 0.19 Seb Frn 07-Perp 200,000 EUR 212,460.50 206,360.00 0.19 Shb 2.656% 14-15.01.24 200,000 EUR 208,738.00 206,743.61 0.19 Smithkline 0.625% 14-02.12.19 100,000 EUR 102,127.00 101,108.00 0.09 Snam 0% 16-25.10.20 100,000 EUR 98,938.00 99,003.20 0.09 Socgen 6.999% 07-Perp 200,000 EUR 210,025.00 205,940.00 0.19 Socgen Frn 17-01.04.22 300,000 EUR 300,000.00 303,600.00 0.28 Spain 0.25% 16-31.01.19 5,000,000 EUR 5,041,999.98 5,040,700.15 4.69 Spain 1.4% 14-31.01.20 3,000,000 EUR 3,114,870.00 3,125,811.09 2.91


UBI SICAV




Spain 4.6% 09-30.07.19 5,000,000 EUR 5,572,500.00 5,501,179.90 5.12 St Gobain 0% 16-27.03.20 200,000 EUR 199,639.00 199,016.80 0.19 Swedbank 2.375% 14-26.02.24 200,000 EUR 208,319.00 206,406.01 0.19 Swedbank 3 (Frn) 05.12.22 Emtn 260,000 EUR 270,584.60 263,094.00 0.24 Telefonica 0.318% 16-17.10.20 200,000 EUR 200,306.00 200,205.20 0.19 Teva Pharm 0.375% 16-25.07.20 100,000 EUR 99,834.00 99,627.80 0.09 Ubs Group F Frn 17-20.09.22 Regs 200,000 EUR 200,000.00 201,720.00 0.19 Ubs Je 7.152% 07-Perp 200,000 EUR 218,111.00 206,300.00 0.19 Ubs Ln 4.75% 14-12.02.26 100,000 EUR 110,111.00 110,280.00 0.10 Unicredit 5.75% 13-28.10.25 100,000 EUR 107,770.00 109,944.80 0.10 Uniper 0.125% 16-08.12.18 Regs 100,000 EUR 99,844.00 100,066.80 0.09 Veolia 4.45% 13 Ftf /Perp 100,000 EUR 104,350.00 102,970.00 0.10 Vodafone Frn 16-25.02.19 100,000 EUR 100,721.50 101,310.00 0.09 Vw Fin 3.25% 11-10.05.18 100,000 EUR 103,735.50 102,730.00 0.10 Vw Intl Fin Frn 13 Ftf /Perp 200,000 EUR 207,498.80 206,481.20 0.19 Wells Fargo Frn 15-02.06.20 200,000 EUR 199,046.00 200,760.00 0.19 Wells Fargo Frn 17-31.01.22 100,000 EUR 100,145.00 100,390.00 0.09 Westpac Bk 0.875% 15-16.02.21 100,000 EUR 102,876.00 102,340.00 0.10

93,790,769.16 93,459,575.02 87.05




Obbligazioni Landsbk Isl Frn (Default) 300,000 USD 6,256.73 31,888.31 0.03

6,256.73 31,888.31 0.03

Totale - Altri valori mobiliari e strumenti del mercato monetario 6,256.73 31,888.31 0.03


Opzioni Put Eur/Jpy Spot - Cross Rates 25/08/17 123 6,400,000 EUR 34,880.00 16,076.80 0.01

34,880.00 16,076.80 0.01




UBI SICAV







Organismi Sovranazionali

Servizi Pubblici

Comunicazioni


Petrolio

Assicurazioni

Società Immobiliari Farmaceutica e Cosmetica

Retail


Trasporti


Mutui & Istituti di Finanziamento

Tessile

Tabacco e alcolici

Ruote e Gomma

Cibo e bevande

Varie


66.71 Italia

9.46 Spagna

4.04 Francia

1.40 Gran Bretagna


0.67 Paesi bassi

0.48 Lussemburgo

0.40 Germania

0.39 Svezia

0.39 Irlanda

0.38 Svizzera

0.29 Belgio

0.28 Danimarca

0.20 Australia

0.19 Hong Kong

0.19 Jersey

0.19 Norvegia

0.19 Messico

0.19 Islanda


0.01

12.91

55.65

13.49

3.58

3.38

2.07

2.06

1.91

1.17

1.10

0.60

0.40

0.39

0.39

0.20

0.19

0.19

0.19

0.10

0.03

12.91

100.00

100.00

121

UBI SICAV




netto


Obbligazioni Ab Inbev 0.625% 16-17.03.20* 300,000 EUR 306,159.00 303,932.99 0.15 Abbey Natl 2.625% 13-16.07.20 200,000 EUR 215,370.00 213,972.40 0.10 Abbvie 0.375% 16-18.11.19 300,000 EUR 302,619.00 301,325.41 0.15 Abn Amro 2.875% 15-30.06.25 300,000 EUR 315,823.00 316,489.79 0.15 Arrfp 4.875% 11-21.01.19 200,000 EUR 219,078.00 214,873.20 0.10 Atlim 3.625% 12-30.11.18 100,000 EUR 107,517.00 105,047.80 0.05 Axa Sa Frn 07-Perp 300,000 EUR 312,675.00 304,080.00 0.15 Bafc Frn 16-26.07.19 300,000 EUR 301,842.00 301,650.00 0.15 Banco Pop 2.375% 14-22.01.18 300,000 EUR 302,260.50 303,090.00 0.15 Barclays Bk 6% 08-23.01.18 300,000 EUR 318,478.12 309,870.00 0.15 Bat Intl 0.375% 15-13.03.19 300,000 EUR 301,860.00 301,285.19 0.15 Bbvasm 3.5% 14-11.04.24 300,000 EUR 313,288.00 315,152.39 0.15 Bfcm Frn 16-03.06.20 400,000 EUR 402,520.00 402,880.00 0.20 Bg Energy 6.5% (Frn) 12-30.11.72 300,000 EUR 312,975.00 307,440.00 0.15 Bk of Amer 0.523% (Tv) 06-28.03.18 150,000 EUR 148,125.00 150,255.00 0.07 Bmw Fin 0.125% 16-15.04.20 300,000 EUR 301,869.00 300,133.21 0.15 Bmw Us Cap Frn 15-18.03.19 300,000 EUR 299,403.40 301,110.00 0.15 Bnpp 2% 13-28.01.19 Emtn 200,000 EUR 208,605.33 206,450.39 0.10 Bnpp 7.781% 08-Perp 200,000 EUR 218,720.00 214,589.80 0.10 Bnpp Frn 17-22.09.22 Regs 400,000 EUR 400,000.00 406,560.00 0.20 Bpce 0.625% 16-20.04.20 200,000 EUR 201,396.00 202,719.60 0.10 Bpce 6.117% 07-Perp 200,000 EUR 208,600.00 203,860.00 0.10 Bpcm 2.994% 12-18.02.19 300,000 EUR 320,109.00 314,245.19 0.15 Carrefour 1.75% 13-22.05.19 300,000 EUR 313,938.00 309,062.39 0.15 Citigp Frn 16-24.05.21 400,000 EUR 408,408.00 407,760.00 0.20 Comzbk 7.75% 11-16.03.21 /Sub 200,000 EUR 244,996.00 244,616.00 0.12 Cont Rubber 0.5% 15-19.02.19 300,000 EUR 303,095.00 302,096.99 0.15 Cr Agr 3.875% 12-13.02.19 300,000 EUR 323,862.00 318,981.01 0.15 Credit Agrico Frn 08-Perp 300,000 EUR 324,720.00 317,310.00 0.15 Cs 5.75% (Frn) 13-18.09.25 Regs 300,000 EUR 337,625.00 338,130.00 0.16 Cs Ag Ldn 0.625% 14-20.11.18 400,000 EUR 404,818.00 403,549.99 0.20 Daimler 0.625% 15-05.03.20 500,000 EUR 507,309.40 506,279.99 0.25 Daimler Ag 2% 13-07.04.20 300,000 EUR 316,899.00 315,150.01 0.15 Danone Frn 15-14.01.20 200,000 EUR 200,246.50 200,800.00 0.10 Delhaize Grp 4.25% 11-19.10.18 100,000 EUR 108,875.00 105,280.00 0.05 Deut Bk 1% 16-18.03.19 400,000 EUR 403,732.00 405,458.01 0.20 Deut Bk 5% 10-24.06.20 200,000 EUR 221,270.00 220,184.60 0.11 Deut Tel If Frn 16-03.04.20 400,000 EUR 401,400.00 402,360.00 0.20 Dnb Bank As 3% 13-26.09.23 200,000 EUR 208,476.00 206,470.00 0.10 Dong Energy 4.875% /Frn Perp 200,000 EUR 211,000.00 208,492.00 0.10 Dsk Bk 3.875% (Frn) 13-04.10.23 200,000 EUR 211,356.00 208,627.59 0.10 Dt An Fin 0.875% 15-30.03.20 200,000 EUR 204,284.00 203,445.80 0.10 Dt An Fin 4.625% 14-08.04.74 200,000 EUR 210,490.00 211,644.00 0.10 Dvb Bank Se 1.25% 15-22.04.20 200,000 EUR 205,802.00 204,705.60 0.10 Edf Frn 13-Pert /Ftf Emtn 200,000 EUR 206,565.33 212,200.00 0.10 Edison 3.875% 10-10.11.17 100,000 EUR 101,955.00 101,290.00 0.05 Edp Fin Bv 5.75% 12-21.09.17 200,000 EUR 207,320.00 202,480.00 0.10 Enel 5% 14-15.01.75 200,000 EUR 213,500.00 216,837.60 0.10 Eni 4.125% 09-16.09.19 300,000 EUR 331,106.00 326,135.99 0.16 Everything 3.25% 12-03.08.18 300,000 EUR 313,290.00 310,350.61 0.15 Fce Bk Frn 15-17.09.19 300,000 EUR 299,371.00 304,080.00 0.15 Fce Bk Frn 17-26.08.20 Regs 200,000 EUR 200,000.00 200,620.00 0.10 Fga Cap Ie 1.375% 15-17.04.20 100,000 EUR 101,810.00 102,368.00 0.05 Fga Cap Ie 4% 13-17.10.18 500,000 EUR 533,593.00 525,072.52 0.26 Fiat Ft 6.625% 13-15.03.18 200,000 EUR 212,700.00 208,380.00 0.10 Gdf 3.875% Ftf 13-Perp* 400,000 EUR 413,245.00 413,000.00 0.20 Ge Cap Eur 5.375% 09-23.01.20 300,000 EUR 342,720.00 339,975.31 0.17 Gen Elec Frn 15-28.05.20 200,000 EUR 199,752.00 200,880.00 0.10


122

UBI SICAV




Germany 0.5% 13-23.02.18 1,000,000 EUR 1,013,570.00 1,007,289.96 0.49 Glencore Fin 4.625% 03.04.18 300,000 EUR 310,213.50 309,930.00 0.15 Gs 0.75% 16-10.05.19 200,000 EUR 202,770.00 202,494.20 0.10 Gs Frn 16-27.07.21 200,000 EUR 204,950.00 204,100.00 0.10 Gs Frn 17-09.09.22 400,000 EUR 400,000.00 400,240.00 0.19 Heidlrg 7.5% 10-03.04.20 300,000 EUR 364,347.00 359,456.41 0.17 Hsbc Hldg 1.5% 16-15.03.22 300,000 EUR 312,490.00 312,314.69 0.15 Hsbc Hldg 3.375% /Frn 13-10.01.24 500,000 EUR 526,691.00 522,813.99 0.25 Hutchison Wh Frn (3.75%) 13-Perp 400,000 EUR 411,360.00 408,880.00 0.20 Iberdrola 5.75% (Frn) 13-Perp 300,000 EUR 315,900.00 310,560.00 0.15 Imperial Tob 4.5% 11-05.07.18 150,000 EUR 164,788.50 156,803.70 0.08 Ing Bank 6.125% (Tv) 08-29.05.23 400,000 EUR 429,548.75 420,920.00 0.20 Ing Nv 1.25% 14-13.12.19 100,000 EUR 103,500.25 102,962.70 0.05 Intesa San 1.125% 15-14.01.20 100,000 EUR 102,290.00 102,217.20 0.05 Intesa San 4.375% 12-15.10.19 300,000 EUR 331,200.00 328,257.00 0.16 Intesa Sanp. 8.047% (Frn) 08-Perp. 200,000 EUR 213,960.00 212,250.00 0.10 Is Vita 5.35% 13-18.09.18 /Sub 300,000 EUR 323,706.00 317,562.61 0.15 Italy 0% 15-30.08.17 /Ctz 20,000,000 EUR 20,036,110.00 20,010,400.40 9.77 Italy 0% 16-28.03.18 /Ctz 15,000,000 EUR 15,018,550.00 15,035,100.15 7.34 Italy 0% 17-30.05.19 /Ctz 20,000,000 EUR 20,042,800.00 20,015,719.60 9.77 Italy 0.35% 17-15.06.20 /Btp 5,000,000 EUR 4,973,950.00 5,014,469.90 2.45 Italy 0.7% 15-01.05.20 /Btp 11,000,000 EUR 11,149,430.00 11,150,920.22 5.44 Italy 1.35% 15-15.04.22 /Btp 2,000,000 EUR 2,018,780.00 2,045,540.00 1.00 Italy 2.15% 13-12.11.17 Infl 11,000,000 EUR 11,245,500.06 11,130,698.59 5.43 Italy 3.45% 17-01.03.48 Btp 1,800,000 EUR 1,796,687.91 1,829,340.00 0.89 Italy Frn 11-15.04.18 13,000,000 EUR 13,172,550.00 13,108,238.00 6.40 Italy Frn 13-01.11.18 13,000,000 EUR 13,421,220.00 13,316,823.00 6.50 Kbc 2.375% 14-25.11.24 200,000 EUR 208,340.00 208,240.01 0.10 Lloyds 6.5% 10-24.03.20 300,000 EUR 352,136.00 348,114.01 0.17 Lvmh 0% 17-26.05.20 Regs 300,000 EUR 299,217.00 299,513.40 0.15 Mediobanca 0.75% 17-17.02.20 200,000 EUR 201,640.00 201,579.61 0.10 Mediobca 2.25% 14-18.03.19 200,000 EUR 207,800.00 207,085.40 0.10 Mor St Frn 14-19.11.19 300,000 EUR 303,450.00 303,090.00 0.15 Nat Aus Bk 2% 14-12.11.24 100,000 EUR 103,433.00 102,325.00 0.05 Nationwide 4.125% 20.03.23 Emtn 300,000 EUR 310,107.00 307,860.00 0.15 Nomura Euro 1.125% 15-03.06.20 200,000 EUR 205,034.00 204,242.00 0.10 Nordea Se 4% 10-29.06.20 200,000 EUR 225,000.00 223,140.20 0.11 Nykredit 0.875% 16-13.06.19 300,000 EUR 304,458.00 303,676.21 0.15 Orange 1.875% 13-03.09.18 Emtn 200,000 EUR 207,098.00 204,443.60 0.10 Orange 4.25% 14-Perp 200,000 EUR 211,680.00 214,240.01 0.10 Pemex 3.75% 16-15.03.19 200,000 EUR 209,640.00 210,500.00 0.10 Psa Banque 0.5% 17-17.01.20 200,000 EUR 201,400.00 201,030.00 0.10 Rabobk 4.125% 10-14.01.20 300,000 EUR 335,370.67 330,489.01 0.16 Rabobk 6.875% 10-19.03.20 300,000 EUR 355,775.00 352,050.00 0.17 Rbs Grp 1.625% 14-25.06.19 200,000 EUR 205,730.00 205,389.80 0.10 Rbs Plc Frn 17-08.06.20 300,000 EUR 300,000.00 300,810.00 0.15 Rci Bq 0.375% 16-10.07.19 200,000 EUR 202,024.00 201,030.81 0.10 Rci Bq Frn 16-18.03.19 200,000 EUR 202,762.00 202,280.00 0.10 Sanofi 0% 16-13.01.20 300,000 EUR 300,771.00 299,475.61 0.15 Sant Id Frn 15-04.03.20 300,000 EUR 302,562.00 302,340.00 0.15 Santan Cons 1.1% 15-30.07.18 300,000 EUR 305,364.00 303,699.01 0.15 Santander 0.375% 17-17.02.20 200,000 EUR 201,276.00 200,715.61 0.10 Seb 4% 12-12.09.22 300,000 EUR 306,573.00 302,220.00 0.15 Seb Frn 07-Perp 300,000 EUR 318,875.50 309,540.00 0.15 Shb 2.656% 14-15.01.24 400,000 EUR 417,476.00 413,487.21 0.20 Smithkline 0.625% 14-02.12.19 200,000 EUR 204,254.00 202,216.00 0.10 Snam 0% 16-25.10.20 200,000 EUR 197,876.00 198,006.39 0.10 Socgen 6.999% 07-Perp 300,000 EUR 316,125.00 308,910.00 0.15 Socgen Frn 17-01.04.22 500,000 EUR 500,000.00 506,000.00 0.25 Spain 0.25% 16-31.01.19 8,500,000 EUR 8,566,530.00 8,569,190.26 4.18 Spain 0.5% 14-31.10.17 5,000,000 EUR 5,027,000.00 5,014,649.95 2.45 Spain 1.15% 15-30.07.20 11,000,000 EUR 11,447,801.01 11,426,514.33 5.58 Spain 5.5% 02-30.07.17 8,000,000 EUR 8,416,607.50 8,032,960.24 3.92


UBI SICAV




St Gobain 0% 16-27.03.20 300,000 EUR 299,420.00 298,525.20 0.14 Swedbank 2.375% 14-26.02.24 300,000 EUR 312,561.00 309,609.01 0.15 Swedbank 3 (Frn) 05.12.22 Emtn 300,000 EUR 308,335.40 303,570.00 0.15 Telefonica 0.318% 16-17.10.20 300,000 EUR 300,516.00 300,307.80 0.15 Teva Pharm 0.375% 16-25.07.20 200,000 EUR 199,668.00 199,255.60 0.10 Ubs Group F Frn 17-20.09.22 Regs 400,000 EUR 400,000.00 403,440.00 0.20 Ubs Je 7.152% 07-Perp 400,000 EUR 424,795.00 412,600.00 0.20 Ubs Ln 4.75% 14-12.02.26 200,000 EUR 220,222.00 220,560.00 0.11 Unicredit 5.75% 13-28.10.25 200,000 EUR 215,540.00 219,889.60 0.11 Uniper 0.125% 16-08.12.18 Regs 100,000 EUR 99,844.00 100,066.80 0.05 Veolia 4.45% 13 Ftf /Perp 200,000 EUR 208,700.00 205,940.00 0.10 Vodafone Frn 16-25.02.19 200,000 EUR 200,110.00 202,620.00 0.10 Vw Fin 3.25% 11-10.05.18 200,000 EUR 208,652.00 205,460.00 0.10 Vw Intl Fin Frn 13 Ftf /Perp 400,000 EUR 409,198.40 412,962.40 0.20 Wells Fargo Frn 15-02.06.20 300,000 EUR 298,775.60 301,140.00 0.15 Wells Fargo Frn 17-31.01.22 200,000 EUR 200,274.00 200,780.00 0.10 Westpac Bk 0.875% 15-16.02.21 200,000 EUR 205,752.00 204,679.99 0.10

181,189,233.63 180,363,848.77 88.03




UBI SICAV







Servizi Pubblici

Comunicazioni


Petrolio


Assicurazioni



Retail


Tessile

Tabacco e alcolici

Trasporti

Ruote e Gomma


Cibo e bevande


71.61 Italia

8.14 Spagna

3.68 Francia

0.85 Gran Bretagna

0.60 Paesi bassi


0.36 Germania

0.35 Svezia

0.30 Irlanda

0.30 Lussemburgo

0.25 Svizzera

0.20 Danimarca

0.15 Belgio

0.15 Hong Kong

0.15 Jersey

0.15 Norvegia

0.15 Australia

0.14 Messico


11.97

56.37

16.73

3.19

2.81

1.93

1.76

1.57

0.91

0.48

0.42

0.36

0.35

0.30

0.20

0.20

0.20

0.15

0.10

11.97

100.00

100.00

125

UBI SICAV




netto


Obbligazioni Germany 0.25% 13-13.04.18 1,000,000 EUR 1,002,840.00 1,007,163.01 2.81 Germany 0.25% 15-16.10.20 2,000,000 EUR 2,017,180.00 2,046,004.02 5.71 Italy 2.5% 14-01.05.19 /Btp 2,800,000 EUR 3,029,488.00 2,931,543.94 8.17 Italy 4.25% 09-01.03.20 Btp 2,000,000 EUR 2,278,740.00 2,215,796.06 6.18 Italy 4.25% 09-01.09.19 4,000,000 EUR 4,538,840.00 4,363,080.12 12.17 Italy 4.5% 04-01.02.20 Btp 2,700,000 EUR 3,196,800.00 3,001,962.60 8.37 Italy 4.5% 07-01.02.18 Btp 4,000,000 EUR 4,453,226.00 4,112,496.04 11.47 Italy 5.25% 02-01.08.17 Btp 3,500,000 EUR 3,918,960.00 3,515,189.93 9.80 Spain 1.15% 15-30.07.20 3,500,000 EUR 3,629,955.00 3,635,709.11 10.14 Spain 4% 10-30.04.20 3,000,000 EUR 3,374,640.00 3,350,855.94 9.34

31,440,669.00 30,179,800.77 84.16

Fondi d’Investimento Pim Glb Hy Ac. Inst Cleur (Hed) 77,886 EUR 1,601,795.48 1,742,309.82 4.86 Ubi Sicav High Yield Bond I* 102,329 EUR 1,057,288.45 1,164,811.01 3.25

2,659,083.93 2,907,120.83 8.11



* Investimento in comparti incrociati, cfr. Nota 16, per ulteriori dettagli. Le note allegate formano parte integrante del rendiconto finanziario.

126

UBI SICAV




Stati, Province e Municipalità 84.16 Italia 56.16

Fondi d’Investimento 8.11 Spagna 19.48

Cassa e Altre Attività / (Passività) 7.73 Germania 8.52

100.00 Irlanda 4.86 Lussemburgo 3.25


100.00

127

UBI SICAV




netto


Obbligazioni 21st Centy 6.15% 15-01.03.37 253,000 USD 289,836.40 277,097.87 0.18 Ab Inbev 2.75% 16-17.03.36 50,000 EUR 49,307.00 53,123.65 0.03 Abbey Natl 0.875% 14-13.01.20 800,000 EUR 803,165.00 812,876.77 0.53 Abbott Lab 2.35% 16-22.11.19 600,000 USD 561,510.07 529,259.23 0.35 Abbott Lab 3.25% 16-15.04.23 300,000 USD 281,236.07 268,264.22 0.18 Abbvie 2% 13-06.11.18 Sr 400,000 USD 363,179.09 351,748.93 0.23 Abbvie 4.45% 16-14.05.46 700,000 USD 643,149.73 633,411.95 0.41 Abn Amro 2.5% 13-30.10.18 500,000 USD 464,455.64 441,746.30 0.29 Abn Amro 2.875% 15-30.06.25 100,000 EUR 103,591.00 105,496.60 0.07 Access Mid 3.75% 17-15.06.27 280,000 USD 248,850.44 241,975.28 0.16 Ace Ina 2.875% 15-03.11.22 100,000 USD 91,705.79 88,979.57 0.06 Actavis Fd 2.35% 15-12.03.18 300,000 USD 275,044.49 263,995.79 0.17 Actavis Fd 3% 15-12.03.20 600,000 USD 548,341.77 536,391.69 0.35 Actavis Fd 4.55% 15-15.03.35 275,000 USD 257,860.35 257,309.56 0.17 Aep Tr 3.1% 16-01.12.26 60,000 USD 56,090.11 52,450.06 0.03 Aetna Inc 3.5% 14-15.11.24 35,000 USD 32,718.00 31,602.48 0.02 Agl Capital 2.45% 16-01.10.23 105,000 USD 93,045.49 88,835.32 0.06 Agl Capital 3.25% 16-15.06.26 150,000 USD 134,593.10 129,041.83 0.08 Agl Capital 4.4% 17-30.05.47 195,000 USD 177,712.39 174,354.64 0.11 Agrium Inc 3.5% 13-01.06.23 Sr 200,000 USD 184,713.23 178,804.24 0.12 Aig 1.875% 17-21.06.27 400,000 EUR 398,916.00 395,520.00 0.26 Aig 4.375% 15-15.01.55 450,000 USD 385,135.26 379,582.71 0.25 Aig 4.5% 14-16.07.44 25,000 USD 24,332.34 22,286.10 0.01 Air Liquide 2.25% 16-27.09.23 280,000 USD 248,440.85 237,299.21 0.16 Akelius Res 1.75% 17-07.02.25 350,000 EUR 348,169.50 349,392.40 0.23 Alim Couche 1.875% 16-06.05.26 400,000 EUR 411,617.00 406,067.99 0.27 Allergan Fd 0.5% 17-01.06.21 700,000 EUR 696,759.00 698,607.71 0.46 Amex Cr 1.875% 17-03.05.19 500,000 USD 459,877.62 438,064.35 0.29 Amgen 2.65% 17-11.05.22 490,000 USD 447,225.28 430,991.23 0.28 Amgen 4% 12-13.09.29 100,000 GBP 139,784.25 128,578.83 0.08 Amgen 4.4% 15-01.05.45 445,000 USD 429,053.52 400,698.95 0.26 Anadko Pet 5.55% 16-15.03.26 284,000 USD 278,081.29 278,223.90 0.18 Anh-Bsch 2.65% 16-01.02.21 450,000 USD 411,321.41 399,110.20 0.26 Anh-Bsch 4.9% 16-01.02.46 675,000 USD 719,821.54 667,863.58 0.44 Apache 3.25% 12-15.04.22 50,000 USD 43,882.74 44,471.38 0.03 Apache 4.75% 12-15.04.43 250,000 USD 233,074.03 219,801.44 0.14 Apple Inc 3% 17-20.06.27 125,000 USD 111,269.85 109,121.59 0.07 Apple Inc 3.2% 17-11.05.27 190,000 USD 173,563.53 168,509.86 0.11 Apple Inc 3.25% 16-23.02.26 900,000 USD 853,589.41 803,112.13 0.52 Apple Inc 4.25% 17-09.02.47 400,000 USD 379,463.00 371,915.48 0.24 Arrow Electr 3% 13-01.03.18 25,000 USD 18,468.92 22,072.85 0.01 Asb Finance 0.5% 16-17.06.20 200,000 EUR 200,164.00 201,260.00 0.13 Asciano Fin 5% 13-19.09.23 155,000 GBP 205,483.15 196,167.72 0.13 Asml Hldg 0.625% 16-07.07.22 200,000 EUR 199,344.00 199,617.40 0.13 Asml Hldg 1.625% 16-28.05.27 150,000 EUR 149,517.00 150,835.80 0.10 Astrazeneca 0.875% 14-24.11.21 700,000 EUR 726,810.00 713,230.00 0.47 At&T Inc 4.45% 15-01.04.24 150,000 USD 144,686.07 138,487.33 0.09 At&T Inc 4.5% 15-15.05.35 15,000 USD 13,844.90 12,936.66 0.01 At&T Inc 4.55% 16-09.03.49 110,000 USD 96,978.61 91,125.36 0.06 At&T Inc 4.75% 15-15.05.46 1,805,000 USD 1,676,008.30 1,551,663.86 1.01 At&T Inc 5.15% 16-15.03.42 25,000 USD 18,894.55 22,380.78 0.01 At&T Inc 5.25% 17-01.03.37 335,000 USD 308,495.70 312,877.15 0.20 Atmos En 3% 17-15.06.27 175,000 USD 155,072.64 151,633.43 0.10 Baa Fdg 6.45% (Frn) 08-10.12.33 50,000 GBP 97,035.87 82,340.88 0.05 Bae Syst 6.375% 01.06.19 144a 100,000 USD 80,119.38 94,410.45 0.06 Bafc 0.75% 16-26.07.23 300,000 EUR 299,022.00 293,880.00 0.19 Barc 5.14% 10-14.10.20 400,000 USD 384,120.16 375,306.39 0.25 Barclays 1.875% 16-23.03.21 900,000 EUR 925,342.00 939,706.17 0.61 Barclays 2.625% 15-11.11.25 450,000 EUR 438,707.50 462,906.91 0.30 Barclays 3.25% 16-12.02.27 200,000 GBP 235,669.75 231,849.69 0.15


UBI SICAV




Barclays 3.65% 15-16.03.25 400,000 USD 359,088.50 348,803.37 0.23 Barclays 4.95% 17-10.01.47 305,000 USD 290,034.35 285,331.54 0.19 Barclays 5.2% 16-12.05.26 290,000 USD 272,816.69 267,424.40 0.17 Bat Intl 1% 15-23.05.22 100,000 EUR 101,741.00 101,040.00 0.07 Bat Intl 3.25% 12-07.06.22 100,000 USD 91,008.41 89,507.32 0.06 Bax 3.5% 16-15.08.46 120,000 USD 94,366.94 94,267.38 0.06 Bay Area Toll 6.263% 09-01.04.49 100,000 USD 112,071.21 124,775.13 0.08 Becton Dick 0.368% 17-06.06.19 700,000 EUR 700,000.00 702,310.00 0.46 Becton Dick 2.894% 17-06.06.22 500,000 USD 444,444.44 438,239.68 0.29 Berkshire 1.125% 15-16.03.27 200,000 EUR 194,200.00 194,289.20 0.13 Bhp Bill 5% 13-30.09.43 250,000 USD 262,073.22 252,009.73 0.16 Bhp Finance 5.625% 15-22.10.79 300,000 EUR 319,525.00 349,962.00 0.23 Biogen Idec 2.9% 15-15.09.20 850,000 USD 788,923.73 760,089.40 0.50 Bk Amer Fdg 5.65% 08-01.05.18 150,000 USD 123,072.72 135,259.05 0.09 Bmw Fin 0.125% 17-12.01.21 500,000 EUR 498,705.00 498,387.00 0.33 Bmw Us Cap 2.25% 16-15.09.23 780,000 USD 689,597.20 662,394.85 0.43 Bnp Us Med 2.7% 13-20.08.18 289,000 USD 267,455.35 256,266.77 0.17 Bnpp 2.25% 16-11.01.27 300,000 EUR 298,422.00 303,147.61 0.20 Boa 1.776% 17-04.05.27 400,000 EUR 400,000.00 401,825.99 0.26 Boa 2.3% 16-25.07.25 300,000 GBP 358,277.00 344,164.82 0.22 Boa 3.124% 17-20.01.23 405,000 USD 374,377.68 358,943.54 0.23 Boa 3.248% 16-21.10.27 470,000 USD 426,326.47 398,154.74 0.26 Boa 3.3% 13-11.01.23 305,000 USD 276,400.33 272,644.39 0.18 Boa 4.443% 17-20.01.48 405,000 USD 377,330.97 375,524.14 0.25 Bpce 3% 17-22.05.22 250,000 USD 226,275.05 221,068.21 0.14 Bpce Us 5.15% 14-21.07.24 500,000 USD 475,432.68 468,291.40 0.31 Bpcm 1.117% 16-25.01.24 200,000 EUR 200,000.00 202,171.80 0.13 Brdcom Crp 3.875% 17-15.01.27 295,000 USD 280,512.03 265,569.83 0.17 Brit Sky Br 1.5% 14-15.09.21 600,000 EUR 625,986.00 621,120.00 0.41 Britel 0.5% 17-23.06.22 800,000 EUR 795,560.00 790,960.00 0.52 Britel 0.625% 16-10.03.21 850,000 EUR 858,757.50 852,805.00 0.56 Britel 9.125% 00-15.12.30 30,000 USD 34,019.55 39,988.08 0.03 Bunge Finan 1.85% 16-16.06.23 200,000 EUR 205,586.00 204,421.20 0.13 Bupa Financ 2% 17-05.04.24 200,000 GBP 230,828.34 227,614.68 0.15 Bupa Finance 3.375% 14-17.06.21 100,000 GBP 136,921.79 122,003.17 0.08 Ca Inc 3.6% 17-15.08.22 170,000 USD 159,750.75 150,703.43 0.10 Cal 5.983% 07-19.04.22 73,664 USD 66,052.45 71,036.00 0.05 Calif Inst 4.7% 11-11.01.2111 10,000 USD 7,421.26 8,889.63 0.01 California 7.5% 09-01.04.34 15,000 USD 14,437.03 19,141.01 0.01 Cameron Int 4.5% 11-01.06.21 40,000 USD 33,133.48 36,904.22 0.02 Canadian Pac. 5.75% 03-15.03.33 50,000 USD 38,077.79 51,540.85 0.03 Cap Gem 1.75% 15-01.07.20 500,000 EUR 521,295.00 519,015.01 0.34 Cardi Hlth 2.616% 17-15.06.22 355,000 USD 316,202.01 312,114.93 0.20 Carnival 1.625% 16-22.02.21 800,000 EUR 840,125.00 832,778.38 0.54 Carolina Pw 4.1% 13-15.03.43 375,000 USD 369,199.34 341,336.47 0.22 Cbs 2.9% 16-15.01.27 870,000 USD 766,169.73 722,366.15 0.47 Cdn Nat Res 3.45% 11-15-11-21 500,000 USD 462,742.07 449,118.96 0.29 Celgene 2.875% 15-15.08.20 500,000 USD 465,931.26 447,277.99 0.29 Celgene 4.625% 14-15.05.44 275,000 USD 254,432.41 253,266.63 0.17 Cenovus Egy 5.7% 10-15.10.19 650,000 USD 615,291.14 601,388.19 0.39 Cf 3.4% 16-01.12.21 560,000 USD 524,741.52 496,341.53 0.32 Cf Ind 5.375% 14-15.03.44 250,000 USD 199,822.89 196,624.88 0.13 Cf Industries 7.125% 10-01.05.20 100,000 USD 105,756.17 96,870.34 0.06 Cfcm 3.5% 17-09.02.29 200,000 EUR 199,210.00 211,616.00 0.14 Charter Com 4.464% 16-23.07.22 700,000 USD 676,019.96 653,398.79 0.43 Charter Com 6.484% 16-23.10.45 500,000 USD 534,480.71 526,084.88 0.34 Chev Phill 2.45% 15-01.05.20 70,000 USD 61,977.35 61,616.69 0.04 Chevron 2.1% 16-16.05.21 350,000 USD 311,502.16 305,899.45 0.20 Chile 2.1% 17-12.06.20 310,000 USD 275,021.48 271,322.70 0.18 Cigna 4% 11-15.02.22 450,000 USD 415,552.16 416,988.70 0.27 Citigp 0.75% 16-26.10.23 400,000 EUR 398,536.00 392,800.00 0.26 Citigp 2.5% 14-29.07.19 700,000 USD 635,438.71 619,168.95 0.40 Citigp 3.2% 16-21.10.26 480,000 USD 433,911.88 409,230.82 0.27


UBI SICAV




Citigp 3.4% 16-01.05.26 800,000 USD 737,607.98 693,770.47 0.45 Citigp Hldg 4.281% 17-24.04.48 250,000 USD 233,644.86 224,230.73 0.15 Citigroup I 2.7% 16-30.03.21 150,000 USD 138,916.84 132,370.04 0.09 Citigroup I 3.7% 16-12.01.26 175,000 USD 162,341.46 155,160.43 0.10 Citigroup I 4.4% 15-10.06.25 200,000 USD 185,025.12 183,343.56 0.12 Citizens Bk 2.55% 16-13.05.21 250,000 USD 222,093.23 219,284.21 0.14 Cloverie Frn 09-24.07.39 200,000 EUR 233,058.00 228,500.00 0.15 Cms Energy 2.95% 16-15.02.27 110,000 USD 99,987.32 92,475.41 0.06 Cna Fi Corp 4.5% 16-01.03.26 700,000 USD 671,690.79 658,351.00 0.43 Cndian Pac 6.125% 15-15.09.2115 200,000 USD 231,728.07 219,926.36 0.14 Comcast 3.2% 16-15.07.36 400,000 USD 355,092.99 326,985.18 0.21 Comcast 3.4% 16-15.07.46 465,000 USD 403,928.46 371,201.01 0.24 Comcast Corp 6.45% 06-15.03.37 332,000 USD 395,042.83 387,267.07 0.25 Comzbk 7.75% 11-16.03.21 /Sub* 300,000 EUR 363,560.00 366,924.00 0.24 Conocophil 4.2% 16-15.03.21 1,000,000 USD 955,985.62 929,464.38 0.61 Cons Edison 2% 16-15.05.21 470,000 USD 417,585.28 405,604.20 0.27 Covtry Hlth 5.45% 11-15.06.21 10,000 USD 8,712.10 9,671.43 0.01 Crdt Agr As 4.75% 16-27.09.48 200,000 EUR 198,266.00 222,500.00 0.15 Cred Suis N 3% 14-29.10.21 50,000 USD 46,322.02 44,667.31 0.03 Credit Agri 1.875% 16-20.12.26 400,000 EUR 396,229.00 407,948.00 0.27 Cs Ag Ldn 1% 16-07.06.23 200,000 EUR 202,293.00 203,000.00 0.13 Cs Gf Guernsey 2.75% 15-26.03.20 300,000 USD 276,967.67 265,047.78 0.17 Cs Gr Fund 3.75% 16-26.03.25 250,000 USD 227,130.10 221,432.02 0.14 Cs Gr Fund 3.8% 16-09.06.23 870,000 USD 793,455.42 786,294.83 0.51 Cs Gr Fund 4.55% 16-17.04.26 250,000 USD 240,730.88 232,815.37 0.15 Cs Ny 3.625% 14-09.09.24 100,000 USD 93,032.99 90,558.43 0.06 Csx Corp 4.25% 16-01.11.66 360,000 USD 320,129.97 312,651.18 0.20 Cte Co Tran 2.125% 17-29.07.32 300,000 EUR 297,513.00 300,990.00 0.20 Cvs Health 3.5% 15-20.07.22 200,000 USD 193,597.16 181,828.70 0.12 Cvs Health 5.125% 15-20.07.45 350,000 USD 380,337.11 351,745.86 0.23 Cwth Edison 2.55% 16-15.06.26 145,000 USD 127,888.52 121,726.53 0.08 Cwth Edison 3.7% 15-01.03.45 450,000 USD 411,711.67 388,336.56 0.25 Cwth Edison 4.35% 15-15.11.45 195,000 USD 200,754.03 184,257.66 0.12 Daimler 1.5% 17-03.07.29 200,000 EUR 199,826.00 196,340.00 0.13 Daimler Fin 2.2% 17-05.05.20 144a 225,000 USD 206,090.75 197,245.33 0.13 Dal 4.95% 10-23.05.19 /Pool 20,380 USD 16,680.57 18,558.46 0.01 Db Ln 1.875% 15-13.02.18 125,000 USD 110,557.78 109,527.04 0.07 Deut Bk 1.875% 17-28.02.20 600,000 GBP 708,707.73 685,370.27 0.45 Deut Tel 3.6% 17-19.01.27 144a 500,000 USD 473,027.38 445,963.00 0.29 Dfs 3.1% 15-04.06.20 1,250,000 USD 1,147,336.67 1,115,345.84 0.73 Dfs 7% 10-15.04.20 30,000 USD 25,221.72 29,191.02 0.02 Diamond1 3.48% 16-01.06.19 700,000 USD 637,364.66 627,999.47 0.41 Disca 3.3% 12-15.05.22 Sr 300,000 USD 282,584.90 263,982.64 0.17 Disca 3.8% 17-13.03.24 240,000 USD 225,413.00 212,743.05 0.14 Disca 5.625% 09-15.08.19 31,000 USD 27,537.73 29,037.06 0.02 Dominion Re 1.6% 16-15.08.19 310,000 USD 278,251.44 269,461.12 0.18 Dominion Re 1.9% 15-15.06.18 600,000 USD 547,147.27 527,231.52 0.34 Dominion Re 2.962% 16-01.07.19 30,000 USD 26,809.84 26,692.82 0.02 Dong Energy Frn 70-Perp 400,000 EUR 458,900.00 475,520.00 0.31 Dow 5.25% 11-15.11.41 Sr 175,000 USD 174,544.65 177,775.27 0.12 Dow 9.4% 09-15.05.39 40,000 USD 49,514.02 58,937.14 0.04 Ds Smith 2.25% 15-16.09.22 500,000 EUR 526,063.00 526,822.02 0.34 Dte 3.85% 13-01.12.23 700,000 USD 684,748.82 638,818.26 0.42 Duke Energy 4.15% 14-01.12.44 200,000 USD 192,163.91 183,725.78 0.12 Duke Energy 4.25% 11-15.12.41 400,000 USD 380,226.24 374,598.04 0.24 Eastman Che 4.65% 14-15.10.44 250,000 USD 233,416.23 231,874.51 0.15 Ei Du Pont 2.2% 17-01.05.20 190,000 USD 174,632.87 167,467.17 0.11 Elenia Fina 2.875% 13-17.12.20 200,000 EUR 208,147.00 215,179.60 0.14 Eli Lilly 3.1% 17-15.05.27 115,000 USD 105,014.84 101,806.30 0.07 Emera Us Fi 2.7% 16-15.06.21 500,000 USD 469,100.17 438,997.98 0.29 Encana Corp 3.9% 15.11.21 400,000 USD 369,539.39 353,898.48 0.23


130

UBI SICAV




Encana Corp 6.5% 04-15.08.34 250,000 USD 265,103.72 248,428.60 0.16 Eneco Hldg 3.25% 14-Perp 500,000 EUR 516,290.00 526,352.01 0.34 Enel 5.75% 07-22.06.37 150,000 GBP 247,179.10 229,739.24 0.15 Enel Fin 2.875% 17-25.05.22 144a 300,000 USD 265,866.67 263,359.34 0.17 Entergy 4% 15-15.07.22 600,000 USD 583,170.21 555,921.81 0.36 Entergy Cor 5.125% 10-15.09.20 199,000 USD 199,327.12 187,381.34 0.12 Entergy La 3.25% 16-01.04.28 200,000 USD 194,633.66 175,066.19 0.11 Enterp Prod 2.85% 16-15.04.21 650,000 USD 597,357.12 576,276.00 0.38 Enterp Prod 3.75% 14-15.02.25 300,000 USD 283,301.68 269,855.35 0.18 Eog Res 2.45% 14-01.04.20 350,000 USD 312,652.15 308,114.75 0.20 Erac Usa Fin 7% 07-15.10.37 50,000 USD 41,870.91 56,899.27 0.04 Erac Usa Finance 3.8% 01.11.25 500,000 USD 475,380.21 446,794.95 0.29 Ericsson Lm 0.875% 17-01.03.21 500,000 EUR 498,065.00 496,144.98 0.32 Euroclear 1.125% 16-07.12.26 400,000 EUR 399,024.00 397,966.80 0.26 Everett 2.875% 17-27.03.20 144a 85,000 USD 79,414.85 75,452.31 0.05 Exelon Corp 2.85% 15-15.06.20 100,000 USD 92,219.05 88,948.89 0.06 Express Sc 3% 16-15.07.23 600,000 USD 554,863.88 522,373.96 0.34 Express Sc 4.8% 16-15.07.46 440,000 USD 388,263.21 392,351.02 0.26 Exxon Mobil 3.043% 16-01.03.26 125,000 USD 115,295.55 110,227.27 0.07 Fce Bk 2.727% 16-03.06.22 200,000 GBP 262,432.60 235,819.17 0.15 Fedex Corp 1% 16-11.01.23 300,000 EUR 300,951.00 301,677.59 0.20 Fedex Corp 5.1% 14-15.01.44 200,000 USD 215,766.66 196,524.94 0.13 Fedex Corp 8% 09-15.01.19 50,000 USD 46,755.48 47,782.50 0.03 Fga Cap Ie 1.25% 16-21.01.21 100,000 EUR 99,750.00 101,801.60 0.07 Fidelity Ni 2.25% 16-15.08.21 70,000 USD 62,603.04 60,704.92 0.04 Fidelity Ni 3% 16-15.08.26 800,000 USD 711,059.74 679,098.81 0.44 Fidelity Nl 0.4% 17-15.01.21 600,000 EUR 599,502.00 598,440.00 0.39 Fidelity Nl 1.1% 17-15.07.24 400,000 EUR 399,088.00 395,880.00 0.26 Firstenergy 3.9% 17-15.07.27 190,000 USD 169,547.23 166,329.53 0.11 Fiserv 3.5% 12-01.10.22 360,000 USD 330,544.27 326,471.11 0.21 Flir Sys 3.125% 16-15.06.21 45,000 USD 40,244.27 39,763.48 0.03 Ford Mc 3.219% 15-09.01.22 400,000 USD 358,757.10 353,779.26 0.23 Ford Mc 3.336% 16-18.03.21 700,000 USD 653,368.94 625,501.88 0.41 Ford Motor Cred 4.134% 04.08.25 650,000 USD 620,380.91 579,655.03 0.38 Fortis Inc 2.1% 16-04.10.21 765,000 USD 680,141.24 656,852.46 0.43 Fortive 2.35% 17-15.06.21 200,000 USD 176,949.63 174,082.58 0.11 France Tel 5.625% 04-23.01.34 100,000 GBP 166,109.46 152,943.17 0.10 Gdf 3.875% Ftf 13-Perp 100,000 EUR 104,250.00 103,250.00 0.07 Gecina 2% 17-30.06.32 200,000 EUR 197,070.00 197,940.00 0.13 Gen Elec 1.5% 17-17.05.29 500,000 EUR 496,200.00 493,580.02 0.32 Gen Elec 2.125% 17-17.05.37 350,000 EUR 346,682.00 342,578.25 0.22 Gen Motors 1.168% 16-18.05.20 100,000 EUR 100,000.00 102,050.00 0.07 General 3.45% 17-14.01.22 650,000 USD 588,231.76 578,885.75 0.38 General Mot 4.875% 14-02.10.23 200,000 USD 189,950.24 187,896.91 0.12 General Motors 3.2% 06.07.21 450,000 USD 405,741.63 398,928.73 0.26 General Motors 3.7% 09.05.23 500,000 USD 462,161.42 445,099.49 0.29 Germany 0% 16-15.08.26 145,000 EUR 141,882.50 139,836.84 0.09 Germany 0.25% 17-15.02.27 185,000 EUR 181,921.60 181,104.83 0.12 Gilead Sc 3.7% 14-01.04.24 70,000 USD 67,552.06 63,794.69 0.04 Gilead Sc 4.15% 16-01.03.47 300,000 USD 263,865.68 264,221.98 0.17 Gilead Sc 4.4% 11-01.12.21 185,000 USD 173,996.83 174,975.59 0.11 Glaxosm Cap 4.25% 12-18.12.45 100,000 GBP 153,393.22 146,305.35 0.10 Gp 5.4% 10-01.11.20 400,000 USD 408,213.37 383,610.08 0.25 Gs 1.375% 17-15.05.24 400,000 EUR 399,972.00 403,191.19 0.26 Gs 1.625% 16-27.07.26 500,000 EUR 499,175.00 494,122.01 0.32 Gs 2.35% 16-15.11.21 700,000 USD 622,023.66 605,373.89 0.40 Gs 3.5% 15-23.01.25 300,000 USD 276,294.72 265,852.55 0.17 GS 3.691% 17-05.06.28 425,000 USD 377,912.15 372,928.47 0.24 Gs 4.75% 15-21.10.45 900,000 USD 882,453.96 872,977.09 0.57 Gs 5.15% 15-22.05.45 300,000 USD 294,705.73 292,872.80 0.19 Gs 7.5% 09-15.02.19 55,000 USD 47,831.81 52,082.93 0.03 Hammerson 2.75% 12-26.09.19 200,000 EUR 209,624.00 211,200.00 0.14 Hammerson P 1.75% 16-15.03.23 100,000 EUR 101,319.00 103,583.40 0.07


UBI SICAV




Healthcare 2.95% 17-01.07.22 90,000 USD 80,114.19 78,596.74 0.05 Heathrow Fd 2.75% 16-09.08.49 100,000 GBP 117,554.04 109,097.11 0.07 Heineken Nv 2.02% 17-12.05.32 250,000 EUR 249,615.00 249,873.26 0.16 Heineken Nv 4.35% 17-29.03.47 200,000 USD 184,511.39 182,633.47 0.12 Hj Heinz Co 2.25% 16-25.05.28 100,000 EUR 99,688.00 100,037.40 0.07 Hj Heinz Co 5.2% 16-15.07.45 400,000 USD 415,879.16 379,353.03 0.25 Hmso Fstght 1% 16-09.09.26 200,000 EUR 198,810.00 190,766.80 0.12 Host Hotel 3.875% 17-01.04.24 130,000 USD 122,328.01 115,926.45 0.08 Hp Enterpri 2.45% 16-05.10.17 29,000 USD 25,961.81 25,473.83 0.02 Hp Enterpri 2.85% 16-05.10.18 415,000 USD 385,235.32 366,922.29 0.24 Hsbc Hldg 2.625% 16-16.08.28 400,000 GBP 466,991.33 455,344.13 0.30 Hsbc Hldg 2.65% 16-05.01.22 515,000 USD 459,717.57 450,434.23 0.29 Hsbc Hldg 4.041% 17-13.03.28 660,000 USD 616,720.45 599,288.35 0.39 Humana 2.625% 14-01.10.19 430,000 USD 395,619.08 380,520.03 0.25 Humana 4.8% 17-15.03.47 70,000 USD 65,542.17 67,622.69 0.04 Husky Ener 4% 14-15.04.24 350,000 USD 318,274.80 311,130.88 0.20 Husky Energy 7.25% 09-15.12.19 250,000 USD 260,094.89 244,264.49 0.16 Imp Tobacco 0.5% 17-27.07.21 Regs 500,000 EUR 497,110.00 497,533.99 0.33 Interco Hot 2.125% 16-24.08.26 300,000 GBP 343,444.41 329,704.49 0.22 Intesa San 1.125% 15-14.01.20 200,000 EUR 203,252.00 204,434.40 0.13 Ip Co 6% 11-15.11.41 10,000 USD 7,271.18 10,690.72 0.01 Ip Co 7.3% 09-15.11.39 28,000 USD 27,719.45 33,194.74 0.02 Jab Hldgs 1.75% 16-25.05.23 100,000 EUR 101,257.00 104,308.50 0.07 Jab Holding 1.25% 17-22.05.24 300,000 EUR 298,086.00 302,010.00 0.20 Jab Holding 2% 17-18.05.28 300,000 EUR 297,051.00 303,046.21 0.20 Johnson Ctl 1% 17-15.09.23 500,000 EUR 495,645.00 493,926.01 0.32 Jpm 2.4% 16-07.06.21 350,000 USD 314,779.52 306,062.07 0.20 Jpm 3.25% 12-23.09.22 Sr 75,000 USD 57,097.77 67,380.99 0.04 Jpm 3.3% 16-01.04.26 625,000 USD 557,851.49 544,073.83 0.36 Jpm 3.875% 14-10.09.24 1,025,000 USD 938,477.98 927,091.73 0.61 Jpm 4.26% 17-22.02.48 450,000 USD 425,934.69 412,684.76 0.27 Jpmorgan Ch 1.638% 17-18.05.28 200,000 EUR 200,000.00 199,500.00 0.13 Kerr-McGee 6.95% 04-01.07.24 45,000 USD 42,958.66 46,265.14 0.03 Kla-Tencor 2.375% 14-01.11.17 25,000 USD 19,793.23 21,967.43 0.01 Kroger Co 3.85% 13-01.08.23 700,000 USD 678,779.75 637,916.19 0.42 La Ca Wtr 6.574% 11-01.07.45 40,000 USD 46,855.06 51,312.70 0.03 Lab Corp 2.625% 15-01.02.20 308,000 USD 278,445.90 272,231.81 0.18 Lafargehol 3% 17-12.05.32 200,000 GBP 234,096.54 224,537.15 0.15 Leaseplan 1% 16-24.05.21 300,000 EUR 300,152.00 303,873.00 0.20 Leed 1.375% 15-05.05.22 450,000 EUR 451,809.00 457,012.33 0.30 Leg Immo 1.25% 17-23.01.24 Regs 400,000 EUR 397,636.00 402,063.20 0.26 Lh 4.625% 10-15.11.20 500,000 USD 488,802.82 465,302.01 0.30 Liberty 1.75% 17-27.03.24 Regs 500,000 EUR 499,215.00 507,696.00 0.33 Liberty Mut 2.75% 16-04.05.26 200,000 EUR 201,748.00 213,506.39 0.14 Lincoln Nc 6.25% 09-15.02.20 15,000 USD 13,151.76 14,395.63 0.01 Lloyds 5.8% 10-13.01.20 600,000 USD 627,311.25 572,227.59 0.37 Lloyds Bk 3.75% 17-11.01.27 700,000 USD 653,424.71 617,831.16 0.40 Louisv. G&E 4.65% 13-15.11.43 400,000 USD 415,649.05 388,077.49 0.25 Lyondellbas 4.625% 15-26.02.55 550,000 USD 473,425.88 472,299.91 0.31 Macys Ret 2.875% 12-15.02.23 100,000 USD 87,894.21 80,376.08 0.05 Magellan 6.4% 08-15.07.18 500,000 USD 495,403.19 457,931.53 0.30 Magellan Mid 4.2% 12-01.12.42 200,000 USD 177,462.40 165,593.06 0.11 Marathon 4.75% 14-15.09.44 150,000 USD 109,572.53 124,929.87 0.08 Markel 4.90% 12-01.07.22 75,000 USD 62,723.26 71,731.61 0.05 Markel 5% 16-05.04.46 75,000 USD 69,651.28 71,923.60 0.05 Marriott 2.3% 16-15.01.22 180,000 USD 157,851.88 155,721.22 0.10 Martin Mari 4.25% 14-02.07.24 40,000 USD 29,256.44 36,799.86 0.02 Mckesson 0.625% 17-17.08.21 400,000 EUR 399,488.00 398,508.79 0.26 Metrovacesa 2.375% 16-23.05.22 300,000 EUR 316,050.00 316,780.79 0.21 Microsoft 3.7% 16-08.08.46 765,000 USD 679,500.33 663,619.24 0.43 Microsoft 3.95% 16-08.08.56 485,000 USD 420,633.79 425,237.05 0.28 Microsoft 4% 15-12.02.55 105,000 USD 92,250.00 93,211.32 0.06 Microsoft 4.5% 17-06.02.57 600,000 USD 580,467.49 579,112.82 0.38


UBI SICAV




Midamer Nrg 4.5% 14-01.02.45 1,450,000 USD 1,406,994.12 1,377,506.36 0.90 Mizuho Fin 2.632% 16-12.04.21 144a 300,000 USD 270,051.22 262,993.78 0.17 Mizuho Fina 2.273% 16-13.09.21 500,000 USD 444,681.61 431,331.64 0.28 Molson Coor 1.25% 16-15.07.24 200,000 EUR 199,500.00 198,675.99 0.13 Mondelez 2.375% 15-06.03.35 100,000 EUR 99,371.00 95,840.00 0.06 Monsanto 2.75% 14-15.07.21 700,000 USD 639,932.86 619,438.95 0.40 Monsanto 4.7% 14-15.07.64 40,000 USD 29,271.33 35,317.26 0.02 Mor St 1% 16-02.12.22 700,000 EUR 698,620.00 704,187.39 0.46 Mor St 1.375% 16-27.10.26 350,000 EUR 346,734.50 338,690.45 0.22 Mor St 3.875% 14-29.04.24 100,000 USD 96,225.12 91,108.97 0.06 Mor St 4% 15-23.07.25 100,000 USD 93,513.54 91,499.08 0.06 Mor St 4.3% 15-27.01.45 250,000 USD 234,971.31 226,639.35 0.15 Mor St 4.35% 14-08.09.26 900,000 USD 840,155.54 820,256.83 0.54 Mor St 4.375% 17-22.01.47 385,000 USD 357,540.63 352,092.57 0.23 Mor St 5.625% 09-23.09.19 600,000 USD 593,661.26 565,079.34 0.37 Motablty 2.375% 17-14.03.32 Regs 200,000 GBP 227,740.63 225,617.64 0.15 Mplx Lp 4.125% 17-01.03.27 125,000 USD 116,748.53 109,954.41 0.07 Mylan 2.25% 16-22.11.24 100,000 EUR 100,238.00 103,449.00 0.07 Mylan 3.125% 16-22.11.28 300,000 EUR 299,265.00 318,542.40 0.21 Nabors Ind 4.625% 11-15.09.21 400,000 USD 328,127.13 333,058.66 0.22 National Gr 2.625% 16-22.09.38 250,000 GBP 291,222.17 272,287.05 0.18 Nationwide 4.125% 20.03.23 Emtn 200,000 EUR 205,592.00 205,240.00 0.13 Nb Water 1.625% 16-11.10.26 200,000 GBP 230,534.85 218,854.58 0.14 Newbelco 2.85% 17-25.05.37 150,000 GBP 174,364.88 167,229.74 0.11 Newell Rub 5.5% 16-01.04.46 200,000 USD 213,803.17 211,103.71 0.14 Newmont Mining 5.125% 09-01.10.19 500,000 USD 495,405.26 465,652.68 0.30 News Amer Hld 8.25% 93-10.08.18 95,000 USD 94,712.44 88,936.22 0.06 Next Plc 3.625% 16-18.05.28 100,000 GBP 128,830.55 115,946.25 0.08 Nextera Nrg 3.55% 17-01.05.27 525,000 USD 479,096.73 467,554.22 0.31 Nisource 3.49% 17-15.05.27 430,000 USD 395,557.27 379,555.03 0.25 Nn Group 1.625% 17-01.06.27 200,000 EUR 198,794.00 198,000.00 0.13 Nn Group 4.625% 17-13.01.48 300,000 EUR 296,667.00 322,125.00 0.21 Noble Energy 4.15% 11-15.12.21 932,000 USD 881,105.56 860,900.96 0.56 Nokia Oyj 1% 17-15.03.21 450,000 EUR 449,527.50 452,808.90 0.30 Norfolk Sth 3% 12-01.04.22 Sr 160,000 USD 143,551.44 143,179.45 0.09 Norfolk Sth 5.59% 05-17.05.25 8,000 USD 6,546.63 7,984.50 0.01 Nstar El 2.7% 16-01.06.26 163,000 USD 148,751.42 137,710.49 0.09 Ny Life Gbl 2.35% 16-14.07.26 335,000 USD 303,061.74 279,195.06 0.18 Ontario 3.125% 17-20.03.22 400,000 USD 374,796.63 355,679.85 0.23 Oracle Corp 4% 16-15.07.46 1,000,000 USD 914,180.04 885,324.78 0.58 Oracle Corp 4.3% 14-08.07.34 65,000 USD 47,450.52 61,826.64 0.04 Owens Corn 4.2% 12-15.12.22 40,000 USD 30,687.25 36,997.28 0.02 Oxy 3.4% 16-15.04.26 700,000 USD 649,279.41 619,205.74 0.40 Pac Gas&El 4% 16-01.12.46 270,000 USD 249,873.75 243,598.84 0.16 Pac Gas&El 4.75% 14-15.02.44 500,000 USD 505,000.46 496,909.79 0.32 Pentair Fin 2.45% 15-17.09.19 100,000 EUR 99,868.00 104,202.00 0.07 Pentair Fin 2.65% 13-01.12.19 50,000 USD 39,260.56 44,164.55 0.03 Perrigo Fin 3.5% 16-15.03.21 211,000 USD 201,765.51 191,092.72 0.12 Pgh Capital 4.125% 17-20.07.22 400,000 GBP 475,939.37 471,182.91 0.31 Pioneer Natl 3.95% 12-15.07.22 160,000 USD 142,566.29 146,977.82 0.10 Potash Sask 4% 16-15.12.26 400,000 USD 376,459.06 359,992.99 0.24 Precis Cast 2.25% 15-15.06.20 75,000 USD 68,653.47 66,433.55 0.04 Principal Fin 3.125% 12-15.05.23 800,000 USD 740,952.38 706,906.27 0.46 Progress En 4.4% 11-15.01.21 25,000 USD 20,993.80 23,214.25 0.02 Prologis 1.375% 14-07.10.20 100,000 EUR 102,978.00 103,087.40 0.07 Prologis 1.375% 15-13.05.21 400,000 EUR 416,003.00 412,994.38 0.27 Pseg Power 3% 16-15.06.21 490,000 USD 436,701.96 436,158.86 0.29 Ptl Co /Fin 3.05% 14-09.01.20 100,000 USD 88,796.38 89,383.71 0.06 Ptl Co /Fin 3.3% 15-01.04.21 600,000 USD 560,256.50 540,357.69 0.35 Ptl Co /Fin 3.375% 15-01.02.22 600,000 USD 562,896.31 539,095.29 0.35 Ptl Co Ptl 4.875% 12-11.07.22 361,000 USD 356,075.76 345,720.71 0.23 Pub Sv Colo 3.8% 17-15.06.47 195,000 USD 173,350.35 171,354.52 0.11 Qualcomm 2.9% 17-20.05.24 215,000 USD 191,479.81 188,094.37 0.12


UBI SICAV




Qualcomm 3.25% 17-20.05.27 170,000 USD 151,442.12 149,371.08 0.10 Quest Diag 3.45% 16-01.06.26 210,000 USD 193,360.72 184,034.89 0.12 Rbs Grp 2% 17-08.03.23 400,000 EUR 400,000.00 412,966.00 0.27 Rbs Grp 3.875% 16-12.09.23 450,000 USD 405,582.68 402,818.44 0.26 Rci Bq 0.5% 16-15.09.23* 600,000 EUR 598,110.00 580,902.01 0.38 Realty Inc 3% 16-15.01.27 415,000 USD 366,954.61 342,987.11 0.22 Realty Inc 4.125% 14-15.10.26 75,000 USD 57,651.61 67,963.53 0.04 Reckitt 2.75% 17-26.06.24 144a 415,000 USD 371,995.51 361,701.59 0.24 Reynolds Am 3.25% 15-12.06.20 30,000 USD 26,671.35 27,076.27 0.02 Reynolds Am 7% 15-04.08.41 25,000 USD 22,599.22 27,503.51 0.02 Rio Tinto F 3.75% 15-15.06.25 568,000 USD 534,871.37 524,101.61 0.34 Roche Hldg 2.375% 16-28.01.27 200,000 USD 181,714.13 166,280.35 0.11 San Diego 2.5% 16-15.05.26 15,000 USD 13,193.83 12,606.08 0.01 Santander 2.7% 16-24.05.19 500,000 USD 457,378.54 440,764.44 0.29 Santander 3.5% 17-11.04.22 200,000 USD 186,950.49 179,445.95 0.12 Santander C 1% 16-25.02.19 100,000 EUR 101,355.00 101,490.50 0.07 Scentre Mgm 1.375% 16-22.03.23 300,000 EUR 307,178.00 306,844.51 0.20 Schlumber 3% 15-21.12.20 415,000 USD 388,932.96 370,105.64 0.24 Schlumber 4% 15-21.12.25 250,000 USD 240,499.13 229,747.09 0.15 Scott Widow Plc 5.5% 16.06.23 100,000 GBP 116,606.13 127,481.60 0.08 Scripps Net 3.5% 15-15.06.22 700,000 USD 655,163.07 632,865.77 0.41 Scripps Net 3.95% 15-15.06.25 400,000 USD 378,623.57 358,309.81 0.23 Seagate Hdd 3.75% 13-15.11.18 30,000 USD 22,065.31 26,930.83 0.02 Sel In Reit 2.85% 15-01.02.18 15,000 USD 13,177.88 13,204.39 0.01 Sempra Ener 3.25% 17-15.06.27 500,000 USD 442,415.90 430,490.05 0.28 Sep 4.75% 13-15.03.24 300,000 USD 303,309.32 282,576.49 0.18 Sgsp 2% 14-30.06.22 200,000 EUR 204,318.00 210,682.01 0.14 Shell Int F 1.875% 16-10.05.21 250,000 USD 220,904.86 216,577.54 0.14 Sherwin Wil 2.25% 17-15.05.20 475,000 USD 435,646.84 417,339.57 0.27 Shire Acq I 2.4% 16-23.09.21 1,220,000 USD 1,091,340.17 1,057,037.43 0.69 Simon Prop 3.25% 16-30.11.26 465,000 USD 432,224.65 403,710.66 0.26 Slm 8.45% 08-15.06.18 35,000 USD 29,059.04 32,309.11 0.02 Smiths Grou 2% 17-23.02.27 300,000 EUR 297,666.00 304,545.30 0.20 South Pwr 1% 16-20.06.22 300,000 EUR 306,279.60 300,681.61 0.20 Southern Co 1.85% 16-01.07.19 600,000 USD 545,230.84 523,515.39 0.34 Sse Frn 2012 Hybrid Perp 100,000 EUR 108,250.00 101,290.00 0.07 Sumibk 2.442% 16-19.10.21 335,000 USD 302,893.31 292,445.88 0.19 Swiss Re Tr 4.25% 12-06.12.42 40,000 USD 30,504.36 36,055.05 0.02 Synchrony 2.7% 15-03.02.20 750,000 USD 671,272.89 659,680.46 0.43 Teleperf 1.5% 17-03.04.24 Regs 400,000 EUR 397,632.00 400,187.99 0.26 Tesco 6% 99-14.12.29 Emtn 20,000 GBP 28,369.74 26,453.60 0.02 Tesco 6.125% 09-24.02.22 550,000 GBP 730,862.21 717,470.95 0.47 Teva Phar 2.2% 16-21.07.21 330,000 USD 297,691.79 283,987.46 0.19 Teva Pharm 0.375% 16-25.07.20 300,000 EUR 298,932.00 298,883.40 0.20 Teva Pharm 1.125% 16-15.10.24 450,000 EUR 436,327.00 430,915.51 0.28 Teva Pharm 1.625% 16-15.10.28 100,000 EUR 98,898.00 91,095.80 0.06 Textron Inc 4% 16-15.03.26 300,000 USD 276,382.19 270,065.76 0.18 Thermo Fish 1.45% 17-16.03.27 200,000 EUR 197,648.00 195,827.00 0.13 Thermo Fish 2.95% 16-19.09.26 70,000 USD 61,472.93 59,670.90 0.04 Tiaa 4.9% 14-15.09.44 55,000 USD 42,464.34 53,967.21 0.04 Tiaa Asset 2.95% 14-01.11.19 300,000 USD 270,476.27 266,754.62 0.17 Time Warner 4.65% 14-01.06.44 300,000 USD 295,866.60 260,090.29 0.17 Time Warner 4.75% 11-29.03.21 600,000 USD 598,628.36 567,125.45 0.37 Time Warner 4.85% 15-15.07.45 100,000 USD 96,134.90 90,267.38 0.06 Time Warner Cable 6.75% 01.07.18 40,000 USD 36,930.39 36,686.25 0.02 Total Sa 3.369% 16-Perp 100,000 EUR 100,000.00 101,790.00 0.07 Total Sa 3.875% 16-Perp 450,000 EUR 478,435.00 485,072.10 0.32 Transc Gas 5.4% 12-15.08.41 10,000 USD 8,255.85 9,767.56 0.01 Transurban 1.875% 14-16.09.24 350,000 EUR 378,791.00 364,227.16 0.24 Transurban 2% 15-28.08.25 100,000 EUR 103,576.00 104,220.00 0.07 Transurban 2.5% 13-08.10.20 100,000 EUR 107,619.00 106,320.00 0.07


134

UBI SICAV




Twc 8.75% 08-14.02.19 100,000 USD 112,598.00 96,423.25 0.06 Ubs Group F 3.491% 17-23.05.23 285,000 USD 261,527.30 255,618.03 0.17 Ubs Grp 4.253% 17-23.03.28 144a 225,000 USD 209,536.23 206,070.18 0.13 Ubs Grp Fdg 2.65% 16-01.02.22 275,000 USD 254,826.47 240,566.55 0.16 Unh 3.75% 15-15.07.25 300,000 USD 292,852.50 277,000.96 0.18 Unh 4.25% 17-15.04.47 300,000 USD 283,631.71 280,364.68 0.18 Union Paci 4.375% 15-15.11.65 150,000 USD 146,305.84 137,456.39 0.09 Unrenco Fin 2.25% 15-05.08.22 510,000 EUR 552,641.10 544,523.95 0.36 Usa 3% 17-15.02.47 /Tbo 800,000 USD 744,717.85 723,596.26 0.47 Valero Egy 4.9% 15-15.03.45 350,000 USD 304,415.68 319,651.53 0.21 Veolia 4.85% 13-Perp 400,000 GBP 486,176.24 465,490.10 0.30 Verizon Com 4.672% 15-15.03.55 1,278,000 USD 1,161,165.56 1,048,862.97 0.69 Verizon Com 5.05% 14-15.03.34 35,000 USD 33,099.39 32,283.64 0.02 Verizon Com 5.25% 17-16.03.37 275,000 USD 255,747.42 259,158.63 0.17 Vf Corp 0.625% 16-20.09.23 200,000 EUR 199,808.00 196,135.41 0.13 Viacom 3.875% 14-01.04.24 300,000 USD 276,385.56 267,896.03 0.18 Viacom 5.25% 14-01.04.44 600,000 USD 531,266.30 526,739.71 0.34 Viacom 5.875% 17-28.02.57 90,000 USD 84,953.75 82,054.88 0.05 Viacom 6.25% 17-28.02.57 35,000 USD 33,037.57 31,910.23 0.02 Virginia El 3.15% 16-15.01.26 320,000 USD 306,914.76 280,664.15 0.18 Vodafone 3% 16-12.08.56 100,000 GBP 117,094.31 97,409.30 0.06 Vw Intl 1.125% 17-02.10.23 Regs 300,000 EUR 297,507.00 300,286.19 0.20 Vw Intl 1.875% 17-30.03.27 Regs 300,000 EUR 298,553.00 299,600.99 0.20 Vw Intl Fin 3.75% 14-Perp 150,000 EUR 156,150.00 158,126.10 0.10 Walgrn Bts 2.7% 14-18.11.19 445,000 USD 400,851.78 395,444.16 0.26 Wellpoint 3.125% 12-15.05.22 860,000 USD 794,706.31 767,983.69 0.50 Wellpoint 3.3% 12-15.01.23 Sr 540,000 USD 498,015.33 482,814.05 0.32 Wells Far 3% 16-23.10.26 300,000 USD 272,866.26 256,092.75 0.17 Wells Fargo 2% 16-28.07.25 450,000 GBP 535,572.52 508,054.17 0.33 Western Gas 4% 12-01.07.22 15,000 USD 12,164.93 13,479.75 0.01 Westlake Ch 4.625% 17-15.02.21 500,000 USD 464,304.82 453,668.80 0.30 Williams P 5.25% 10-15.03.20 500,000 USD 467,523.39 471,719.10 0.31 Williams Pa 3.6% 15-15.03.22 200,000 USD 183,271.50 179,126.85 0.12 Wm Wrigley 2.9% 13-21.10.19 200,000 USD 184,868.11 178,257.21 0.12 Wpp Finance 2.875% 16-14.09.46 150,000 GBP 176,641.53 151,751.21 0.10 Wr Berkley 4.625% 12-15.03.22 935,000 USD 905,432.63 882,163.94 0.58 Xerox 4.07% 17-17.03.22 144a 187,000 USD 187,959.60 168,126.23 0.11 Yara Intl 7.875% 09-11.06.19 200,000 USD 206,949.20 192,722.71 0.13 Zimmer Hld 1.414% 16-13.12.22 400,000 EUR 400,000.00 406,106.81 0.27 Zimmer Hld 2.425% 16-13.12.26 250,000 EUR 250,000.00 258,951.49 0.17

149,688,870.66 146,055,794.08 95.41




Obbligazioni Pa St 5.511% 10-01.12.45 75,000 USD 72,091.53 81,318.49 0.05

72,091.53 81,318.49 0.05

Totale - Altri valori mobiliari e strumenti del mercato monetario 72,091.53 81,318.49 0.05



UBI SICAV





Banche e Istituzioni Finanziarie 17.65 Gran Bretagna 11.23

Servizi Pubblici 7.58 Paesi bassi 5.68

Comunicazioni 6.42 Francia 3.44

Petrolio 5.43 Canada 2.89

Farmaceutica e Cosmetica 4.51 Irlanda 1.68

Software e Servizi Internet 3.60 Australia 1.58

Assicurazioni 2.81 Lussemburgo 1.51

Società Immobiliari 2.39 Germania 1.29

Trasporti 2.30 Guernsey 0.97

Arti grafiche e editoria 2.25 Svezia 0.67

Chimica 2.05 Giappone 0.64

Educazione Sanitaria e Servizi Sociali 2.00 Panama 0.54

Biotecnologia 1.90 Finlandia 0.44

Elettronica e apparecchiature elettriche 1.59 Isole Cayman 0.33

Retail 1.31 Spagna 0.33

Tabacco e alcolici 1.29 Danimarca 0.31

Computer e materiale d’ufficio 1.22 Svizzera 0.30

Intrattenimento 0.94 Italia 0.28

Stati, Province e Municipalità 0.85 Jersey 0.28

Beni di consumo 0.70 Norvegia 0.20

Semiconduttori elettronici 0.67 Belgio 0.14

Cibo e bevande 0.50 Nuova Zelanda 0.13

Tecnologia Aerospaziale 0.38 Cassa e Altre Attività / (Passività) 4.54

Industria Automobilistica 0.38

Mutui & Istituti di Finanziamento 0.35

Imballaggio e Container 0.34


Altri servizi 0.32

Metalli Preziosi 0.30


Varie 0.19

Pesca e Agricoltura 0.13

Tessile 0.13 Miniere e industrie pesanti 0.04


100.00

100.00

136

UBI SICAV

UBI SICAV - Euro Corporate Short Term



netto


Obbligazioni Ab Inbev 0.625% 16-17.03.20* 6,600,000 EUR 6,649,804.00 6,686,525.80 0.62 Abb Fin Bv 2.625% 12-26.03.19 2,400,000 EUR 2,568,272.64 2,504,455.27 0.23 Abbey Natl 2.625% 13-16.07.20 6,500,000 EUR 6,995,069.00 6,954,102.87 0.64 Abbvie 0.375% 16-18.11.19 9,800,000 EUR 9,804,727.00 9,843,296.69 0.91 Abn Amro 2.875% 15-30.06.25 8,400,000 EUR 8,855,122.00 8,861,714.15 0.82 Achmea Hypo 0.875% 15-17.09.18 1,800,000 EUR 1,797,174.00 1,819,079.96 0.17 Aib 2.75% 14-16.04.19 2,400,000 EUR 2,541,872.73 2,506,848.07 0.23 Amer Movil 5.125% (Frn) 06.09.73 3,900,000 EUR 4,118,399.99 4,100,850.08 0.38 Anglo Amer 1.75% 13-20.11.17* 1,700,000 EUR 1,721,930.00 1,708,840.00 0.16 Ap Moeller Frn 16-18.03.19* 1,800,000 EUR 1,800,000.00 1,841,400.00 0.17 Arrfp 2.25% 14-16.01.20 1,800,000 EUR 1,906,200.00 1,894,131.00 0.18 Arrfp 4.875% 11-21.01.19* 2,400,000 EUR 2,699,917.44 2,578,478.40 0.24 Arrfp Frn 15-03.01.20 1,800,000 EUR 1,813,710.00 1,822,320.00 0.17 Assgen 7.678% 08-Perpetual 2,100,000 EUR 2,268,000.00 2,249,730.00 0.21 Atlim 3.625% 12-30.11.18* 3,600,000 EUR 3,939,582.60 3,781,720.73 0.35 Att Frn 14-04.06.19* 3,600,000 EUR 3,607,659.24 3,624,840.00 0.34 Aviva Plc 6.875% (Tv) 22.05.38 Emtn* 2,000,000 EUR 2,122,200.00 2,112,000.00 0.20 Axa 5.25% (Frn) 10-16.04.40 /Sub 2,600,000 EUR 2,915,198.00 2,910,185.17 0.27 Axa Sa Frn 07-Perp 8,800,000 EUR 9,311,754.00 8,919,680.00 0.83 Bafc Frn 16-26.07.19* 6,000,000 EUR 6,000,000.00 6,033,000.00 0.56 Banco Pop 2.375% 14-22.01.18* 5,400,000 EUR 5,435,942.00 5,455,620.00 0.50 Banco Pop 2.75% 15-27.07.20 1,800,000 EUR 1,844,100.00 1,856,937.60 0.17 Barclays 2.625% 15-11.11.25 3,000,000 EUR 3,031,135.00 3,086,046.06 0.29 Barclays Bk 6% 08-23.01.18 6,600,000 EUR 7,296,947.94 6,817,140.00 0.63 Basf 1.375% 14-22.01.19 2,900,000 EUR 2,990,793.00 2,953,499.29 0.27 Bat Intl 0.375% 15-13.03.19* 6,600,000 EUR 6,603,632.61 6,628,274.27 0.61 Bayer Ag 3% 14-01.07.75 2,400,000 EUR 2,507,760.00 2,495,323.25 0.23 Bbvasm 3.5% 14-11.04.24* 6,400,000 EUR 6,642,855.00 6,723,251.01 0.62 Bfcm 0.25% 16-14.06.19* 3,500,000 EUR 3,490,060.00 3,517,923.50 0.33 Bfcm Frn 16-03.06.20 6,000,000 EUR 6,018,900.00 6,043,200.00 0.56 Bg Energy 3% 11-16.11.18 Emtn* 4,200,000 EUR 4,535,724.00 4,378,285.97 0.41 Bg Energy 6.5% (Frn) 12-30.11.72 5,400,000 EUR 5,699,625.00 5,533,920.00 0.51 Bk of Amer 0.523% (Tv) 06-28.03.18 6,100,000 EUR 6,023,672.00 6,110,370.00 0.57 Bmw Fin 0.125% 16-15.04.20 3,600,000 EUR 3,590,165.85 3,601,598.51 0.33 Bmw Fin Frn 16-15.07.19 3,600,000 EUR 3,638,679.39 3,632,040.00 0.34 Bmw Us Cap Frn 15-18.03.19 5,400,000 EUR 5,405,741.00 5,419,980.00 0.50 Bnpp 2% 13-28.01.19 Emtn* 4,800,000 EUR 5,037,993.09 4,954,809.46 0.46 Bnpp 7.781% 08-Perp 7,000,000 EUR 7,615,045.00 7,510,642.93 0.70 Bnpp Frn 17-22.09.22 Regs 10,200,000 EUR 10,205,395.00 10,367,280.00 0.96 Boa 1.875% 13-10.01.19 2,400,000 EUR 2,503,290.81 2,467,516.85 0.23 Bp Milan 4.25% 14-30.01.19 2,400,000 EUR 2,566,563.00 2,515,584.05 0.23 Bpce 0.625% 16-20.04.20* 5,800,000 EUR 5,839,457.00 5,878,868.52 0.54 Bpce 6.117% 07-Perp* 7,200,000 EUR 7,579,170.00 7,338,960.00 0.68 Bpcm 2.994% 12-18.02.19 4,200,000 EUR 4,535,634.13 4,399,432.72 0.41 Britel 1.125% 14-10.06.19 1,800,000 EUR 1,847,772.00 1,834,289.98 0.17 Carrefour 1.75% 13-22.05.19 3,300,000 EUR 3,431,804.40 3,399,686.33 0.31 Carrefour Frn 15-19.10.19 3,000,000 EUR 3,016,319.99 3,044,700.00 0.28 Citigp Frn 16-24.05.21 10,800,000 EUR 11,027,533.00 11,009,520.00 1.02 Cnp Assur 6% 10-14.09.40 1,300,000 EUR 1,501,370.00 1,496,143.96 0.14 Comzbk 0.625% 15-14.03.19 1,700,000 EUR 1,702,075.00 1,715,784.45 0.16 Comzbk 7.75% 11-16.03.21 /Sub 4,600,000 EUR 5,634,908.00 5,626,167.95 0.52 Cont Rubber 0.5% 15-19.02.19 7,000,000 EUR 7,015,018.00 7,048,929.79 0.65 Cr Agr 3.875% 12-13.02.19 6,600,000 EUR 7,292,832.80 7,017,582.20 0.65 Cr Agr 3.9% 10-19.04.21 3,600,000 EUR 4,093,828.01 4,052,916.04 0.38 Credit Agrico Frn 08-Perp 7,000,000 EUR 7,609,825.00 7,403,900.00 0.69 Cs 5.75% (Frn) 13-18.09.25 Regs 7,200,000 EUR 8,122,500.00 8,115,120.00 0.75 Cs Ag Ldn 0.375% 16-11.04.19* 2,400,000 EUR 2,422,555.56 2,415,028.75 0.22 Cs Ag Ldn 0.625% 14-20.11.18 7,200,000 EUR 7,213,191.30 7,263,899.78 0.67


137

UBI SICAV




Cs Ag Ldn 1.375% 14-29.11.19 3,000,000 EUR 3,108,630.00 3,091,752.09 0.29 Daimler 0.5% 16-09.09.19 4,800,000 EUR 4,808,458.72 4,843,468.90 0.45 Daimler 0.625% 15-05.03.20 9,000,000 EUR 9,096,832.00 9,113,039.73 0.84 Daimler Ag 2% 13-07.04.20 7,200,000 EUR 7,610,767.00 7,563,600.22 0.70 Danone Frn 15-14.01.20 6,000,000 EUR 6,018,432.92 6,024,000.00 0.56 Delhaize Grp 4.25% 11-19.10.18 3,000,000 EUR 3,307,671.43 3,158,400.00 0.29 Deut Bank 5.125% 07-31.08.17 3,600,000 EUR 3,703,680.00 3,630,600.00 0.34 Deut Bk 1% 16-18.03.19 7,200,000 EUR 7,250,452.00 7,298,244.14 0.68 Deut Bk 5% 10-24.06.20 6,500,000 EUR 7,174,874.00 7,155,999.50 0.66 Deut Tel If Frn 16-03.04.20 10,200,000 EUR 10,206,843.27 10,260,180.00 0.95 Dnb Bank As 3% 13-26.09.23 4,600,000 EUR 4,782,534.00 4,748,810.05 0.44 Dong Energy 4.875% /Frn Perp 4,800,000 EUR 5,098,225.00 5,003,808.10 0.46 Dsk Bk 3.875% (Frn) 13-04.10.23 4,700,000 EUR 5,008,151.58 4,902,748.46 0.45 Dt An Fin 0.875% 15-30.03.20 2,400,000 EUR 2,456,386.00 2,441,349.60 0.23 Dt An Fin 3.125% 13-25.07.19 2,600,000 EUR 2,801,876.00 2,760,290.03 0.26 Dt An Fin 4.625% 14-08.04.74 6,500,000 EUR 6,856,447.00 6,878,429.94 0.64 Dvb Bank Se 1.25% 15-22.04.20 4,800,000 EUR 4,929,907.00 4,912,934.30 0.45 Edf Frn 13-Pert /Ftf Emtn 4,900,000 EUR 5,073,433.46 5,198,899.90 0.48 Edison 3.875% 10-10.11.17 4,800,000 EUR 5,131,607.86 4,861,920.00 0.45 Edp Fin Bv 5.75% 12-21.09.17 6,000,000 EUR 6,573,709.94 6,074,400.00 0.56 Enel 5% 14-15.01.75 4,900,000 EUR 5,256,450.00 5,312,521.20 0.49 Eni 4.125% 09-16.09.19 4,100,000 EUR 4,561,590.00 4,457,191.92 0.41 ENI 4.25% 12-03.02.20 5,200,000 EUR 5,802,684.00 5,738,964.40 0.53 Erste Bk 1.875% 13-13.05.19 4,200,000 EUR 4,391,025.13 4,336,583.96 0.40 Eutelsat 2.625% 13-13.01.20 1,200,000 EUR 1,269,780.00 1,261,637.96 0.12 Eutelsat 5% 11-14.01.19 1,800,000 EUR 1,958,400.00 1,931,961.60 0.18 Everything 3.25% 12-03.08.18 5,800,000 EUR 6,056,940.00 6,000,111.77 0.56 Fce Bk Frn 15-17.09.19 8,400,000 EUR 8,466,240.00 8,514,240.00 0.79 Fce Bk Frn 17-26.08.20 Regs 5,400,000 EUR 5,404,956.00 5,416,740.00 0.50 Fedex Corp 0.5% 16-09.04.20* 2,400,000 EUR 2,399,073.60 2,411,539.13 0.22 Fga Cap Ie 1.375% 15-17.04.20 6,500,000 EUR 6,623,930.00 6,653,919.74 0.62 Fga Cap Ie 2.625% 14-17.04.19 4,200,000 EUR 4,368,015.00 4,375,198.88 0.40 Fga Cap Ie 4% 13-17.10.18* 6,600,000 EUR 7,143,436.00 6,930,957.20 0.64 Fiat Ft 6.625% 13-15.03.18 4,800,000 EUR 5,193,759.01 5,001,120.00 0.46 Fortis Bk 5.757% 07-04.10.17 2,700,000 EUR 2,807,325.00 2,738,070.00 0.25 France Tel 3.875% 10-09.04.20 2,400,000 EUR 2,675,604.00 2,644,084.73 0.24 G4s 2.625% 12-06.12.18 1,800,000 EUR 1,875,960.00 1,864,998.00 0.17 Gdf 3.875% Ftf 13-Perp* 6,500,000 EUR 6,827,174.03 6,711,250.00 0.62 Gdf Suez 3% Frn 14-Perp 3,600,000 EUR 3,718,300.00 3,742,199.89 0.35 Ge Cap Eur 2.25% 13-20.07.20 5,200,000 EUR 5,564,220.39 5,520,819.25 0.51 Ge Cap Eur 5.375% 09-23.01.20 6,000,000 EUR 6,889,291.00 6,799,506.24 0.63 Gen Elec Frn 15-28.05.20* 5,200,000 EUR 5,214,715.42 5,222,880.00 0.48 Gen Motors 0.85% 15-23.02.18 3,600,000 EUR 3,594,997.00 3,618,360.00 0.33 Gen Motors 1.168% 16-18.05.20 2,600,000 EUR 2,661,470.00 2,653,300.08 0.25 Germany 0.5% 13-23.02.18 3,000,000 EUR 3,023,100.00 3,021,869.88 0.28 Germany 4.25% 07-04.07.17 3,000,000 EUR 3,147,840.00 3,000,000.00 0.28 Glencore Fin 4.625% 03.04.18 7,800,000 EUR 8,484,843.52 8,058,180.00 0.75 Groupama Sa 7.875% 09-27.10.39 2,600,000 EUR 2,920,450.00 2,980,275.97 0.28 Gs 0.75% 16-10.05.19 4,200,000 EUR 4,211,916.00 4,252,378.24 0.39 Gs Frn 14-29.10.19 2,300,000 EUR 2,313,942.60 2,324,150.00 0.22 Gs Frn 16-27.07.21 5,300,000 EUR 5,431,175.00 5,408,650.00 0.50 Gs Frn 17-09.09.22 9,100,000 EUR 9,100,000.00 9,105,460.00 0.84 Heidlrg 7.5% 10-03.04.20 6,500,000 EUR 7,890,819.00 7,788,222.13 0.72 Heineken Nv 2.5% 12-19.03.19 3,000,000 EUR 3,186,620.00 3,124,010.94 0.29 Honywl Intl 0.65% 16-21.02.20 3,900,000 EUR 3,963,090.00 3,946,121.48 0.37 Hsbc Hldg 1.5% 16-15.03.22 7,200,000 EUR 7,498,877.84 7,495,552.58 0.69 Hsbc Hldg 3.375% /Frn 13-10.01.24 12,600,000 EUR 13,213,339.35 13,174,912.55 1.22 Hsbc Hldg Frn 17-27.09.22 5,100,000 EUR 5,100,000.00 5,141,310.00 0.48 Hutchison Wh Frn (3.75%) 13-Perp* 9,600,000 EUR 9,710,640.00 9,813,120.00 0.91 Iberdrola 5.75% (Frn) 13-Perp 6,600,000 EUR 7,029,080.00 6,832,320.00 0.63 Imperial Tob 4.5% 11-05.07.18 6,000,000 EUR 6,675,591.69 6,272,147.82 0.58


138

UBI SICAV




Infineon Te 1% 15-10.09.18 3,600,000 EUR 3,594,420.66 3,638,520.00 0.34 Ing Bank 6.125% (Tv) 08-29.05.23 4,200,000 EUR 4,687,407.29 4,419,660.00 0.41 Ing Nv 1.25% 14-13.12.19 3,600,000 EUR 3,706,920.88 3,706,657.20 0.34 Ing Nv 3.5% 13-21.11.23 5,400,000 EUR 5,656,380.00 5,635,569.38 0.52 Intesa San 1.125% 15-14.01.20 3,500,000 EUR 3,580,150.00 3,577,602.04 0.33 Intesa San 4.375% 12-15.10.19 6,600,000 EUR 7,370,993.01 7,221,653.93 0.67 Intesa Sanp. 8.047% (Frn) 08-Perp. 4,800,000 EUR 5,197,000.00 5,094,000.00 0.47 Is Vita 5.35% 13-18.09.18 /Sub* 4,200,000 EUR 4,590,505.00 4,445,876.48 0.41 Italcementi Fi Frn 10-19.03.20 3,900,000 EUR 4,470,516.00 4,417,089.22 0.41 Jef 2.375% 14-20.05.20 2,600,000 EUR 2,743,728.00 2,731,580.77 0.25 Jpm Frn 15-27.01.20* 4,000,000 EUR 4,026,189.00 4,039,600.00 0.37 Kbc 2.375% 14-25.11.24 6,000,000 EUR 6,262,612.00 6,247,200.18 0.58 Kering 1.875% 13-08.10.18 2,400,000 EUR 2,516,068.80 2,457,751.27 0.23 Kpn (6.125%) Frn 13-Perp /Sub 1,800,000 EUR 1,942,076.83 1,911,599.95 0.18 Lloyds 6.5% 10-24.03.20 7,800,000 EUR 9,162,011.99 9,050,964.16 0.84 Lvmh 0% 17-26.05.20 Regs 3,900,000 EUR 3,889,821.00 3,893,674.16 0.36 Mapfre 5.921% 07-24.07.37 7,200,000 EUR 7,377,780.00 7,215,840.00 0.67 Mediobanca 0.75% 17-17.02.20 4,200,000 EUR 4,203,006.00 4,233,171.73 0.39 Mediobanca 2.4% 13-30.09.18 3,000,000 EUR 3,167,400.00 3,131,352.09 0.29 Mediobca 2.25% 14-18.03.19 5,300,000 EUR 5,531,312.00 5,487,763.21 0.51 Merck Fin 0.75% 15-02.09.19 1,200,000 EUR 1,201,909.57 1,216,317.62 0.11 Mor St Frn 14-19.11.19* 8,100,000 EUR 8,117,283.00 8,183,430.00 0.76 Mor St Frn 16-27.01.22 4,000,000 EUR 4,045,100.00 4,028,000.00 0.37 Nat Aus Bk 2% 14-12.11.24 3,500,000 EUR 3,619,128.86 3,581,374.90 0.33 Nationwide 4.125% 20.03.23 Emtn 6,600,000 EUR 6,829,018.00 6,772,920.00 0.63 Natixis 6.307% 07-Perp 1,700,000 EUR 1,767,830.00 1,726,010.00 0.16 Nomura Euro 1.125% 15-03.06.20 4,900,000 EUR 5,013,256.00 5,003,929.10 0.46 Nordea 4.5% 10-26.03.20 /Sub 1,200,000 EUR 1,356,336.00 1,336,676.42 0.12 Nordea Bank 1.875% 15-10.11.25 3,000,000 EUR 3,116,942.00 3,108,419.94 0.29 Nordea Se 4% 10-29.06.20 2,600,000 EUR 2,923,666.80 2,900,822.57 0.27 Nykredit 0.375% 17-16.06.20 3,000,000 EUR 2,994,210.00 2,999,685.06 0.28 Nykredit 0.875% 16-13.06.19 3,600,000 EUR 3,620,052.00 3,644,114.51 0.34 Omv 6.75% (Frn) 11-Perp /Sub 3,900,000 EUR 4,128,000.00 4,085,250.00 0.38 Orange 1.875% 13-03.09.18 Emtn 5,400,000 EUR 5,632,956.86 5,519,977.31 0.51 Orange 4.25% 14-Perp 5,900,000 EUR 6,238,620.02 6,320,080.18 0.58 Pemex 3.75% 16-15.03.19 5,600,000 EUR 5,728,284.80 5,894,000.00 0.55 Philip Mor 1.75% 13-19.03.20 2,400,000 EUR 2,519,088.00 2,499,868.82 0.23 Philip Mor 2.125% 12-30.05.19 1,200,000 EUR 1,265,866.86 1,246,876.84 0.12 Pirelli Int 1.75% 14-18.11.19 3,600,000 EUR 3,596,978.00 3,671,640.00 0.34 Poste Vita 2.875% 14-30.05.19 2,400,000 EUR 2,522,210.60 2,513,520.07 0.23 Psa Banque 0.5% 17-17.01.20 5,400,000 EUR 5,393,106.00 5,427,809.95 0.50 Rabobk 4.125% 10-14.01.20 7,800,000 EUR 8,711,112.00 8,592,714.16 0.80 Rabobk 6.875% 10-19.03.20 9,800,000 EUR 11,607,460.00 11,500,300.00 1.06 Rbc Tor Frn 14-27.03.19* 3,000,000 EUR 2,999,356.67 3,019,200.00 0.28 Rbs Grp 1.625% 14-25.06.19 4,600,000 EUR 4,731,790.00 4,723,965.45 0.44 Rbs Grp 3.625% 14-25.03.24 2,100,000 EUR 2,179,800.00 2,176,297.24 0.20 Rbs Plc Frn 17-08.06.20 3,900,000 EUR 3,900,000.00 3,910,530.00 0.36 Rci Bq 0.375% 16-10.07.19 4,800,000 EUR 4,799,759.02 4,824,739.39 0.45 Rci Bq Frn 16-18.03.19 2,400,000 EUR 2,400,000.00 2,427,360.00 0.22 Rci Bq Frn 17-12.04.21 Regs 2,400,000 EUR 2,400,106.00 2,408,640.00 0.22 Royal Bk Scot 6.934% 09.04.18 Emtn 4,000,000 EUR 4,322,400.00 4,217,600.00 0.39 Rwe Fin. 5.125% 03-23.07.18 3,000,000 EUR 3,333,963.00 3,161,577.06 0.29 Sampo Bk 1.125% 16-24.05.19 3,700,000 EUR 3,739,982.00 3,772,135.20 0.35 San Con 1.5% 15-12.11.20 3,000,000 EUR 3,121,562.00 3,108,993.06 0.29 Sanofi 0% 16-13.01.20* 7,800,000 EUR 7,814,196.00 7,786,365.83 0.72 Sant Id Frn 15-04.03.20 6,000,000 EUR 6,055,692.00 6,046,800.00 0.56 Santan Cons 1.1% 15-30.07.18* 6,600,000 EUR 6,668,328.13 6,681,378.13 0.62 Santander 0.375% 17-17.02.20 6,000,000 EUR 6,002,365.00 6,021,468.18 0.56 Scania Frn 17-20.04.20 2,600,000 EUR 2,607,126.00 2,608,060.00 0.24 Schlumberge 0.625% 16-12.02.19 1,800,000 EUR 1,797,390.00 1,816,865.93 0.17 Seb 4% 12-12.09.22* 7,500,000 EUR 7,908,544.00 7,555,500.00 0.70


139

UBI SICAV




Seb Frn 07-Perp 5,800,000 EUR 6,191,990.00 5,984,440.00 0.55 Ses Glb Ame 1.875% 13-24.10.18 2,400,000 EUR 2,508,509.79 2,457,600.05 0.23 Shb 2.656% 14-15.01.24 9,000,000 EUR 9,385,681.21 9,303,462.27 0.86 Smithkline 0.625% 14-02.12.19 4,200,000 EUR 4,279,694.99 4,246,536.08 0.39 Snam 0% 16-25.10.20 4,800,000 EUR 4,785,840.00 4,752,153.46 0.44 Socgen 6.999% 07-Perp 7,800,000 EUR 8,289,590.00 8,031,660.00 0.74 Socgen Frn 15-22.07.18* 3,000,000 EUR 3,001,459.46 3,012,300.00 0.28 Socgen Frn 17-01.04.22 10,800,000 EUR 10,800,800.00 10,929,600.00 1.01 Sse Frn 2012 Hybrid Perp 4,700,000 EUR 4,854,680.00 4,760,630.00 0.44 St Gobain 0% 16-27.03.20 5,400,000 EUR 5,380,804.00 5,373,453.60 0.50 St Gobain 4% 10-08.10.18 3,000,000 EUR 3,289,500.00 3,152,129.97 0.29 Suez Env Co 3% 14-Perp 3,900,000 EUR 4,099,200.00 4,098,899.92 0.38 Swedbank 2.375% 14-26.02.24 6,900,000 EUR 7,188,492.00 7,121,007.21 0.66 Swedbank 3 (Frn) 05.12.22 Emtn* 7,700,000 EUR 7,996,497.00 7,791,630.00 0.72 Telefonica 0.318% 16-17.10.20* 6,600,000 EUR 6,600,000.00 6,606,771.60 0.61 Telefonica 4.693% 09-11.11.19 3,000,000 EUR 3,408,896.00 3,322,289.88 0.31 Telekom Austria Ag Frn Perpetual 2,400,000 EUR 2,471,520.00 2,471,760.00 0.23 Teva Pharm 0.375% 16-25.07.20 6,500,000 EUR 6,473,040.00 6,475,807.00 0.60 Ubs Group F Frn 17-20.09.22 Regs 9,300,000 EUR 9,300,000.00 9,379,980.00 0.87 Ubs Je 7.152% 07-Perp 7,500,000 EUR 8,224,435.00 7,736,250.00 0.72 Ubs Ln 4.75% 14-12.02.26 4,000,000 EUR 4,403,612.00 4,411,200.00 0.41 Unicred 6.7% 08-05.06.18 Subord 2,400,000 EUR 2,566,560.00 2,534,592.05 0.23 Unicredit 5.75% 13-28.10.25 4,800,000 EUR 5,182,509.00 5,277,350.45 0.49 Unicredit Ital 5.75% 07-26.09.17 5,700,000 EUR 5,997,911.42 5,762,130.00 0.53 Uniper 0.125% 16-08.12.18 Regs 4,200,000 EUR 4,193,448.00 4,202,805.73 0.39 Veolia 4.45% 13 Ftf /Perp 3,600,000 EUR 3,788,050.00 3,706,920.00 0.34 Vodafone Frn 16-25.02.19 4,800,000 EUR 4,816,980.48 4,862,880.00 0.45 Vw Fin 3.25% 11-10.05.18 4,800,000 EUR 5,119,472.80 4,931,040.00 0.46 Vw Intl Fin Frn 13 Ftf /Perp* 10,400,000 EUR 10,606,121.00 10,737,022.50 0.99 Vw Intl Fin Frn 17-30.03.19 6,000,000 EUR 6,007,097.00 6,007,200.00 0.56 Wachovia Cor 4.375% 27.11.18 Emtn* 3,000,000 EUR 3,303,000.00 3,180,986.94 0.29 Wells Fargo Frn 15-02.06.20 4,800,000 EUR 4,802,079.00 4,818,240.00 0.45 Wells Fargo Frn 17-31.01.22 4,800,000 EUR 4,803,915.00 4,818,720.00 0.45 Westpac Bk 0.875% 15-16.02.21 4,000,000 EUR 4,113,292.00 4,093,599.84 0.38 Wpp Finance 0.75% 15-18.11.19 2,400,000 EUR 2,417,092.97 2,431,051.20 0.23 Zf Na Cap 2.25% 15-26.04.19 1,700,000 EUR 1,771,740.00 1,754,230.03 0.16

1,065,462,570.05 1,056,539,752.38 97.82

Totale - Valori mobiliari e strumenti del mercato monetario ammessi alla quotazione ufficiale di una borsa valori 1,065,462,570.05 1,056,539,752.38 97.82

TOTALE DEGLI INVESTIMENTI 1,065,462,570.05 1,056,539,752.38 97.82


140

UBI SICAV






Servizi Pubblici

Comunicazioni

Assicurazioni

Petrolio Industria Automobilistica



Trasporti

Tabacco e alcolici



Retail

Varie

Ruote e Gomma


Cibo e bevande


Chimica


Tessile



45.63 Francia

19.66 Gran Bretagna

5.30 Paesi bassi


3.59 Italia

2.50 Germania

2.23 Svezia

1.76 Spagna

1.63 Irlanda

1.33 Lussemburgo

1.26 Belgio

1.20 Danimarca

1.11 Svizzera

0.83 Austria

0.74 Norvegia

0.65 Messico

0.62 Hong Kong

0.56 Jersey

0.56 Australia

0.50 Finlandia

0.37 Canada


0.34

2.18

18.62

15.97

12.24

11.48

8.33

7.16

4.41

3.68

3.03

1.93

1.74

1.70

1.62

1.01

1.00

0.93

0.91

0.72

0.71

0.35

0.28

2.18

100.00

100.00

141

UBI SICAV




netto


Azioni Akzo Nobel Nv (Eur 2) 21,000 EUR 1,592,190.76 1,597,890.00 2.00 Allianz Se /Nam. Vinkuliert 12,000 EUR 1,338,365.31 2,068,800.00 2.59 Anheuser-Busch Inbev Sa /Nv 19,000 EUR 2,056,753.75 1,837,490.00 2.30 Atlantia Spa* 63,000 EUR 984,053.03 1,552,320.00 1.94 Bme* 62,000 EUR 1,425,869.79 1,960,130.00 2.45 British American Tobacco (25p)* 25,000 GBP 1,337,908.53 1,489,809.69 1.86 Deutsche Telekom /Nam. 187,000 EUR 2,318,448.95 2,939,640.00 3.68 Eni Spa Roma 281,000 EUR 4,261,309.53 3,697,960.00 4.63 Evonik Industr Shs 39,000 EUR 1,159,994.19 1,091,415.00 1.37 France Telecom Sa 202,000 EUR 2,980,741.21 2,805,780.00 3.51 Gas Natural Sdg /Split Issue 89,000 EUR 1,716,547.24 1,823,610.00 2.28 Gaz De France 147,000 EUR 2,192,970.50 1,942,605.00 2.43 Glaxosmithkline Plc 123,000 GBP 2,465,542.21 2,290,407.34 2.86 Inditex 47,000 EUR 739,453.01 1,579,670.00 1.98 Intesa Sanpaolo 482,000 EUR 1,035,812.90 1,338,032.00 1.67 Intesa Sanpaolo /Risp-Non Conv* 1,035,000 EUR 1,902,353.90 2,686,860.00 3.36 Koninklijke Ahold Delhaize N.V. 163,000 EUR 2,241,413.60 2,728,620.00 3.41 Nokia Oy 540,000 EUR 2,568,166.29 2,891,700.00 3.62 Nordea Bank Ab /Finn. Dep. Rec 346,000 EUR 3,287,415.16 3,854,440.00 4.82 Pernod-Ricard 17,000 EUR 1,599,183.67 1,993,250.00 2.49 Prysmian Spa 112,000 EUR 1,990,207.74 2,884,000.00 3.61 Sa Des Ciments Vicat-Vicat 24,000 EUR 1,208,627.33 1,480,080.00 1.85 Sampo Plc A 106,000 EUR 2,674,344.99 4,756,220.00 5.95 Sanofi-Aventis 28,000 EUR 1,783,589.67 2,345,280.00 2.93 Scor Se 68,000 EUR 1,341,698.70 2,360,280.00 2.95 Siemens Ag /Nam. 22,000 EUR 1,800,285.80 2,647,700.00 3.31 Snam Rete Gas Spa 781,000 EUR 2,682,922.10 2,980,296.00 3.73 Total Sa* 126,000 EUR 5,351,378.35 5,453,910.00 6.82 Unilever Cert. of Shs 81,000 EUR 2,396,865.68 3,913,920.00 4.90 Volkswagen Ag /Vorzug. 18,000 EUR 2,592,373.87 2,400,300.00 3.00

63,026,787.76 75,392,415.03 94.30




142

UBI SICAV




Comunicazioni

Assicurazioni

Petrolio Banche e Istituzioni Finanziarie

Servizi Pubblici

Tabacco e alcolici Farmaceutica e Cosmetica

Retail

Cibo e bevande

Chimica



Edifici commerciali

Trasporti



14.42 Francia

11.49 Italia

11.45 Germania

9.85 Paesi bassi

8.44 Finlandia

6.65 Spagna

5.79 Svezia

5.39 Gran Bretagna

4.90 Belgio


3.31

3.00

2.45

1.94

1.85

5.70

22.98

18.94

13.95

10.31

9.57

6.71

4.82

4.72

2.30

5.70

100.00

100.00

143

UBI SICAV




netto


Obbligazioni Argentina 16% 16-17.10.23 5,355,200 ARS 350,910.37 303,782.04 0.59 Argentina 18.2% 16-03.10.21 1,740,000 ARS 114,858.07 97,427.26 0.19 Argentina 22.75% 16-05.03.18 4,157,000 ARS 253,336.06 220,352.34 0.43 Belarus 8.95% 26.01.18 Regs 270,000 USD 248,582.20 242,330.15 0.47 Brazil 6% 10-15.08.50 /Infl 30 BRL 19,199.26 25,087.97 0.05 Brazil 8.5% 12-05.01.24 114,000 BRL 48,331.90 29,894.10 0.06 Brazil 10% 10-01.01.21 4,740 BRL 1,228,110.44 1,256,931.72 2.44 Brazil 10% 12-01.01.23 10,520 BRL 3,018,851.00 2,753,766.64 5.34 Brazil 10% 13-01.01.19 2,830 BRL 764,750.70 760,549.58 1.48 Brazil 10% 14-01.01.25 4,800 BRL 1,217,631.79 1,240,648.01 2.41 Brazil 10% 16-01.01.27 1,380 BRL 362,915.39 354,266.77 0.69 Brazil Loan 5.477% 24.07.23 /Pool 178,559 USD 172,160.00 158,118.47 0.31 Colombia 7% 12-04.05.22 132,400,000 COP 49,404.45 39,648.88 0.08 Colombia 11% 05-24.07.20 736,100,000 COP 281,819.18 242,618.61 0.47 Czech Rep 1% 15-26.06.26 6,670,000 CZK 259,879.57 258,505.15 0.50 Czech Rep 2.5% 13-25.08.28 6,910,000 CZK 305,532.04 304,194.75 0.59 Hungary 3.25% 15-22.10.31 197,390,000 HUF 619,931.36 610,648.14 1.18 Hungary 5.5% 14-24.06.25 95,700,000 HUF 364,744.62 370,638.14 0.72 Indonesia 5.625% 12-15.05.23 6,400,000,000 IDR 394,406.54 395,194.97 0.77 Indonesia 6.625% 12-15.05.33 6,200,000,000 IDR 497,419.67 375,323.30 0.73 Indonesia 7% 11-15.05.22 12,800,000,000 IDR 1,037,677.12 854,187.57 1.66 Indonesia 7.5% 16-15.08.32 1,670,000,000 IDR 113,571.27 111,203.16 0.22 Indonesia 7.875% 13-15.04.19 3,300,000,000 IDR 226,542.80 222,509.90 0.43 Indonesia 8.25% 10-15.07.21 5,253,000,000 IDR 346,914.68 363,782.15 0.71 Indonesia 8.25% 11-15.06.32 2,300,000,000 IDR 220,132.43 159,951.52 0.31 Indonesia 8.25% 15-15.05.36 5,850,000,000 IDR 415,706.29 412,628.09 0.80 Indonesia 8.375% 10-15.09.26 1,770,000,000 IDR 137,411.50 128,396.86 0.25 Indonesia 8.375% 13-15.03.24 4,000,000,000 IDR 288,958.24 285,591.08 0.55 Indonesia 8.375% 13-15.03.34 12,150,000,000 IDR 854,401.18 860,193.05 1.67 Indonesia 8.75% 13-15.02.44 6,300,000,000 IDR 427,846.80 454,850.42 0.88 Indonesia 8.75% 15-15.05.31 5,340,000,000 IDR 395,373.75 395,971.04 0.77 Indonesia 9% 13-15.03.29 8,100,000,000 IDR 522,176.96 606,661.04 1.18 Indonesia 12.8% 06-21 S.Fr 0034 2,600,000,000 IDR 219,398.06 207,342.31 0.40 Malaysia 3.226% 16-15.04.20 1,860,000 MYR 385,515.81 375,758.87 0.73 Malaysia 3.48% 13-15.03.23 2,915,000 MYR 618,947.03 585,737.63 1.14 Malaysia 3.759% 15-15.03.19 1,360,000 MYR 291,734.61 279,606.07 0.54 Malaysia 3.8% 16-17.08.23 3,250,000 MYR 715,615.44 659,950.91 1.28 Malaysia 3.9% 16-30.11.26 1,385,000 MYR 284,878.67 282,258.28 0.55 Malaysia 3.955% 15-15.09.25 1,895,000 MYR 440,438.19 385,614.38 0.75 Malaysia 4.048% 14-30.09.21 3,403,000 MYR 725,710.69 704,980.06 1.37 Malaysia 4.181% 14-15.07.24 1,500,000 MYR 354,695.11 311,358.74 0.60 Malaysia 4.24% 03-07.02.18 560,000 MYR 119,076.75 115,017.61 0.22 Malaysia 4.254% 15-31.05.35 80,000 MYR 17,468.44 15,879.19 0.03 Malaysia 4.498% 10-15.04.30 400,000 MYR 89,806.55 82,457.51 0.16 Mexico 5% 14-11.12.19 400 MXN 1,825.40 1,869.78 - Mexico 5.75% 15-05.03.26 44,000 MXN 187,746.97 199,496.37 0.39 Mexico 6.5% 11-09.06.22 Bonos 100,590 MXN 476,980.35 483,941.25 0.94 Mexico 6.5% 11-10.06.21 120,550 MXN 581,450.94 583,472.29 1.13 Mexico 7.5% 06-03.06.27 Bonos 254,950 MXN 1,278,460.05 1,301,642.45 2.53 Mexico 7.75% 11-29.05.31 Bonos 150,530 MXN 825,718.94 787,774.10 1.53 Mexico 8% 03-07.12.23 S. M20 337,570 MXN 1,886,016.64 1,746,345.19 3.39 Mexico 8% 10-11.06.20 47,600 MXN 223,015.62 239,470.80 0.46 Mexico 10% 06-20.11.36 228,785 MXN 1,390,717.10 1,450,376.88 2.81 Min of Fin 3.4% 15-17.06.36 3,470,000 THB 103,245.15 94,938.90 0.18 Nigeria 5.625% 17-27.06.22 145,000 USD 128,055.83 125,589.55 0.24 Pemex 6.875% 16-04.02.26 145,000 USD 151,061.70 140,843.34 0.27 Pemex 7.65% 12-24.11.21 144a 6,440,000 MXN 378,678.84 303,287.05 0.59 Peru 6.95% 08-12.08.31 /Usd 3,521,000 PEN 1,102,551.80 1,050,093.55 2.04 Peru 8.2% 06-12.08.26 Reg-S/Usd 836,000 PEN 277,598.25 271,430.00 0.53 Petro Gbl F 6.25% 14-17.03.24 555,000 USD 508,340.05 495,787.68 0.96


UBI SICAV




Philippines 3.5% 16-21.04.23 12,000,000 PHP 224,454.93 199,331.58 0.39 Poland 1.75% 15-25.07.21 445,000 PLN 102,698.93 102,159.02 0.20 Poland 2.25% 16-25.04.22 6,150,000 PLN 1,392,190.08 1,424,798.83 2.76 Poland 3.25% 13-25.07.25 6,930,000 PLN 1,644,810.94 1,649,242.38 3.20 Poland 4% 12-25.10.23 Se-23 1,440,000 PLN 341,119.72 361,625.13 0.70 Prov Buenos 9.95% 09.06.21 /Pool 280,000 USD 281,423.69 280,859.12 0.54 Romania 5.85% 12-26.04.23 4,470,000 RON 1,133,666.53 1,126,264.26 2.19 Russia 7.5% 16-18.08.21 24,600,000 RUB 369,538.81 359,186.81 0.70 Russia 7.7% 17-23.03.33 9,450,000 RUB 145,815.49 137,365.44 0.27 Russia 7.75% 16-16.09.26 88,050,000 RUB 1,441,763.96 1,302,682.58 2.53 Russia 8.5% 15-17.09.31 59,615,000 RUB 957,254.25 936,207.72 1.82 South Africa 10.5% 97-21.12.26 9,230,000 ZAR 713,813.70 689,297.79 1.34 South Africa 7% 10-28.02.31 3,885,000 ZAR 220,526.67 213,065.16 0.41 South Africa 7.75% 12-28.02.23 2,230,000 ZAR 150,452.91 146,580.96 0.28 South Africa 8.25% 13-31.03.32 40,551,000 ZAR 2,292,683.46 2,446,875.94 4.75 South Africa 8.75% 14-31.01.44 1,525,000 ZAR 88,525.59 91,111.82 0.18 South Africa 9% 15-31.01.40 19,500,000 ZAR 1,165,481.11 1,202,858.05 2.33 Thailand Go 4.875% 09-22.06.29 42,500,000 THB 1,387,285.29 1,332,407.84 2.58 Thailand Gov 3.85% 10-12.12.25 15,620,000 THB 454,556.74 446,713.04 0.87 Turkey 5.125% 11-25.03.22 390,000 USD 362,338.89 354,839.49 0.69 Turkey 7.1% 13-08.03.23 2,600,000 TRY 630,813.23 557,634.54 1.08 Turkey 7.4% 15-05.02.20 2,870,000 TRY 675,917.22 662,441.71 1.28 Turkey 8% 15-12.03.25 2,385,000 TRY 656,838.40 522,851.90 1.01 Turkey 9.5% 12-12.01.22 670,000 TRY 207,587.00 160,705.30 0.31 Turkey 10.6% 16-11.02.26 8,170,000 TRY 2,105,326.22 2,067,556.60 4.01 Ukraine 7.75% 15-01.09.22 435,000 USD 387,723.21 383,594.72 0.74

48,858,843.58 47,336,431.34 91.85



Valori mobiliari e strumenti del mercato monetario trattati su un altro mercato regolamentato

Obbligazioni Malaysia 4.232% 11-30.06.31 1,210,000 MYR 248,739.41 241,647.18 0.47

248,739.41 241,647.18 0.47

Totale dei valori mobiliari e strumenti del mercato monetario trattati su un altro

mercato regolamentato 248,739.41 241,647.18 0.47


Obbligazioni Colombia 6% 12-28.04.28 4,932,200,000 COP 1,454,052.30 1,342,973.51 2.61 Colombia 10% 08-24.07.24 1,305,900,000 COP 470,824.87 455,278.30 0.88

1,924,877.17 1,798,251.81 3.49




UBI SICAV




Stati, Province e Municipalità 93.68 Messico 14.04

Petrolio 1.82 Brasile 12.47

Holding e Società Finanziarie 0.31 Indonesia 11.33

Cassa e Altre Attività / (Passività) 4.19 Sudafrica 9.29

100.00 Turchia 8.38

Malesia 7.84

Polonia 6.86

Russia 5.32

Colombia 4.04

Tailandia 3.63

Peru 2.57

Romania 2.19

Ungheria 1.90

Argentina 1.75

Repubblica Ceca 1.09

Paesi bassi 0.96

Ucraina 0.74

Russia Bianca 0.47

Filippine 0.39

Stati Uniti d’America 0.31 Nigeria 0.24


100.00

146

UBI SICAV




netto


Obbligazioni Amd 7.5% 13-15.08.22 Wi 5,000,000 USD 4,623,838.46 4,865,170.51 0.61 Avnet 4.875% 12-01.12.22 5,000,000 USD 4,881,388.49 4,638,599.11 0.58 Hca Hldgs 6.25% 12-15.02.21 5,000,000 USD 4,838,277.34 4,788,726.22 0.60 Italy 2.5% 14-01.05.19 /Btp 12,100,000 EUR 12,890,735.00 12,668,457.76 1.58 Italy 3.75% 13-01.05.21 /Btp 17,400,000 EUR 20,249,250.00 19,551,736.55 2.43 Italy 4.25% 09-01.09.19 11,000,000 EUR 12,186,790.00 11,998,470.33 1.49 Motorola Soltn 3.75% 15.05.22 5,000,000 USD 4,602,394.57 4,510,256.86 0.56 Safeway 4.75% 11-01.12.21 5,000,000 USD 4,422,802.00 4,256,947.49 0.53 Usa 2.50% 13-15.08.23 Tbo* 36,900,000 USD 26,818,280.98 33,195,180.48 4.13

95,513,756.84 100,473,545.31 12.51

Fondi d’Investimento A G7-10 UcEtf -C- Eur 16,000 EUR 4,137,283.20 4,001,440.00 0.50 A Gr 3-5 Us Etf - Parts C 28,000 EUR 5,645,752.00 5,595,240.00 0.70 Ag 10-15 U Etf -C- Eur 36,000 EUR 10,392,228.00 9,703,080.00 1.21 Am Etf Pac Jap Fcp 7,432 EUR 3,036,920.32 3,571,150.32 0.44 Amundi Etf St600 Ucits -Eur- /Dis 227,796 EUR 14,388,743.11 17,597,241.00 2.19 Amundi Gr 1-3 Uc Etf 24,000 EUR 4,082,841.60 4,062,960.00 0.51 Amundi Gr 5-7 Uc Etf -C Eur 18,000 EUR 4,211,868.60 4,125,240.00 0.51 Av I Gl Hyield -I (Hedged) /Cap 10,500 EUR 1,970,929.80 2,163,410.55 0.27 Blackrock Ir-Ish Msci Fe Ex-Jp 221,700 EUR 8,266,396.36 10,058,529.00 1.25 Comstage Etf Dj St 600 Tr -I- 148,183 EUR 8,322,607.56 11,404,163.68 1.42 Cs Etf Eur 1-3 /Eur* 36,000 EUR 4,032,540.00 4,037,400.00 0.50 Cs Etf Msci Pac Ex Japan Usd 21,540 EUR 2,123,819.33 2,511,348.60 0.31 Cs Etf S&P 500 /Usd 235,684 EUR 31,014,375.42 47,803,785.72 5.95 Db X Tracker Msci Ap Ex Jp 210,075 EUR 8,382,136.98 10,184,436.00 1.27 Dbx Hy Bond Eur -1c- /Cap 938,605 EUR 16,723,406.87 16,744,713.20 2.08 Dbxt Es50 — Shs -Ic- Cap 464,170 EUR 28,046,520.67 35,829,282.30 4.46 Dbxt Msci Emu I -1d- Eur /Dis 454,000 EUR 15,016,050.00 17,751,400.00 2.21 Dbxt2 Iese13Tr -1C- /Cap. /Etf 13,000 EUR 2,211,186.90 2,202,330.00 0.27 Dbxt2 Iese35Tr -1C- /Cap /Etf 28,000 EUR 5,694,164.00 5,650,400.00 0.70 Dbxt2 Ise57 -1c- Cap 17,000 EUR 4,027,991.90 3,953,350.00 0.49 Dbxt2 Ise710 -1c- Cap 16,000 EUR 4,202,404.80 4,073,920.00 0.51 Dj Stoxx 600 -A- Etf Eur 293,816 EUR 16,644,248.14 22,421,098.96 2.79 Ishare Eu Govt Bond 7-10 Etf* 19,680 EUR 3,856,333.40 4,083,993.60 0.51 Ishares /Msci Emerg. Mkt Indx* 722,800 USD 26,539,237.05 26,226,608.22 3.26 Ishares Bar Em Etf Usd /Dis 497,000 EUR 29,394,937.20 28,726,600.00 3.57 Ishares Bc Eur Cor /Dis* 29,900 EUR 3,637,257.11 3,877,432.00 0.48 Ishares Bc Eur Gvt Bd /Dis 57,000 EUR 14,675,100.30 12,750,330.00 1.59 Ishares Euro Stoxx (De) 776,400 EUR 24,930,204.00 29,021,832.00 3.61 Ishares Gl High Yld Crp Bd Usd Etf* 200,478 USD 18,343,746.49 17,395,732.83 2.16 Ishares Mark Ibox /Exch Tr Eur 62,495 EUR 6,802,840.34 6,708,838.25 0.83 Ishares Plc /S&P 500 1,598,710 EUR 19,466,996.99 33,804,722.95 4.21 Ishares Plc-Usd Corp Bond 176,692 EUR 16,260,559.27 17,916,568.80 2.23 Ishares Stoxx Europe 600 (De) 720,690 EUR 23,343,318.94 27,184,426.80 3.38 Ishares Usd Hgh Yd Etf-Usd /Dis 94,423 USD 9,422,810.78 8,689,862.84 1.08 Ishares Vi Glb Cor-Usd Etf 146,179 USD 10,940,292.90 12,585,464.71 1.57 Ishesb 30-15 (De) Anteile* 822,348 EUR 11,867,214.00 10,694,635.74 1.33 Ishs Bar Gvt Eur Shs Eur 28,000 EUR 4,038,174.00 4,041,800.00 0.50 Ishs Glb Gov Bd Etf -Usd- /Dis 350,000 EUR 34,773,200.00 32,777,500.00 4.08 L Ucits 3-5y Inv Gr Act Cap 36,000 EUR 5,541,375.60 5,505,480.00 0.69 Mul Ly E57y Ing -C- Eur- Cap Etf 25,200 EUR 3,832,995.60 4,018,392.00 0.50 Mul Ly E710y Ig -C- Eur /Cap 23,445 EUR 3,683,844.86 3,981,943.35 0.50 Mul Ly Sp500 D Shs 251,000 EUR 5,425,565.80 5,467,407.50 0.68 Mul. Un Fr-Lyx Euro 1-3Y /Cap /Dis 32,000 EUR 4,049,392.00 4,027,520.00 0.50 Source Msci Em Ac Ptg -A- Etf /Cap 530,953 USD 19,336,096.41 19,675,097.14 2.45 Source S&P 500 -A- Etf Usd /Dis 46,886 USD 9,331,043.96 17,392,663.19 2.16 Ssga Bar Cor Bd /Gbp-Etf 12,713 EUR 798,316.37 893,215.38 0.11



UBI SICAV




Ssga Bar Emg Mk /Ex. Trad. Fd Usd* 436,800 USD 29,388,037.84 28,688,573.68 3.57 Ssga Spdr S&P 500 Etf Dis 26,000 USD 5,524,867.51 5,527,991.58 0.69 Ubi Eu Eq -I- Cap /Eur** 400,000 EUR 2,000,000.00 1,969,600.00 0.25 Ubi Euro Hy -I- Cap** 1,600,000 EUR 8,000,000.00 8,006,400.00 1.00 Ubi It Mc Eq -I- Cap** 400,000 EUR 2,000,000.00 1,972,400.00 0.25 Ubi Ital Eq -I- Cap** 400,000 EUR 2,000,000.00 2,237,600.00 0.28 Ubi Pramerica Cap Growth Cap 888,000 EUR 4,440,000.00 5,050,056.00 0.63 Ubi Pramerica Infl Shield Cap 1,298,000 EUR 6,490,000.00 6,000,654.00 0.75 Ubs Etf Msci Ac Asia Ex Jap A 6,756 EUR 576,624.60 799,167.24 0.10 Ubs Etf Msci Emu A Dis 98,250 EUR 9,975,322.50 12,064,117.50 1.50 Ubs Msci Em Mkt Trn Idx Sf -A- 522,031 EUR 19,042,728.77 19,521,349.25 2.43

602,302,850.15 674,731,895.88 83.97



* Titoli parzialmente o totalmente prestati (Cfr. Nota 9). ** Investimento in comparti incrociati, cfr Nota 16, per ulteriori dettagli.


UBI SICAV




Fondi d’Investimento 83.97 Irlanda 45.12

Stati, Province e Municipalità 9.63 Lussemburgo 18.64

Semiconduttori elettronici 1.19 Stati Uniti d’America 10.27

Holding e Società Finanziarie 0.60 Germania 8.32


Retail 0.53 Italia 6.88

Cassa e Altre Attività / (Passività) 3.52 Cassa e Altre Attività / (Passività) 3.52

100.00 100.00

149

UBI SICAV




netto


Obbligazioni Italy 0% 15-30.08.17 /Ctz 2,000,000 EUR 2,003,255.00 2,001,040.04 16.46 Italy 0% 16-28.03.18 /Ctz 1,000,000 EUR 1,002,060.00 1,002,340.01 8.25 Italy 0% 17-14.02.18 Bot 1,500,000 EUR 1,503,886.46 1,503,325.55 12.37 Italy 0.75% 14-15.01.18 /Btp 2,500,000 EUR 2,523,885.00 2,513,814.93 20.68 Italy 2.15% 13-12.11.17 Infl 2,000,000 EUR 2,046,751.02 2,023,763.38 16.65

9,079,837.48 9,044,283.91 74.41

Buoni del Tesoro Spain 0% 16-13.10.17 Tb 2,000,000 EUR 2,004,536.49 2,002,151.94 16.47

2,004,536.49 2,002,151.94 16.47


TOTALE DEGLI INVESTIMENTI 11,084,373.97 11,046,435.85 90.88 (1) Cfr. Nota 17.


UBI SICAV






100.00

Italia 74.41 Spagna 16.47


100.00

(1) Cfr. Nota 17.

151

UBI SICAV




netto


Obbligazioni Italy 0% 15-30.08.17 /Ctz 900,000 EUR 897,741.00 900,468.02 3.80 Italy 1.5% 14-01.08.19 /Btp 1,800,000 EUR 1,862,622.00 1,856,339.95 7.82 Italy 4.5% 04-01.02.20 /Btp 250,000 EUR 288,087.50 277,959.50 1.17 Italy 5.25% 02-01.08.17 /Btp 900,000 EUR 984,456.00 903,905.98 3.81

4,032,906.50 3,938,673.45 16.60

Rights Right Acs 05.07.17 818 EUR - 572.60 -

- 572.60 -

Azioni A2a Spa 88,809 EUR 123,357.84 129,128.29 0.54 Aalberts Industries Nv 3,541 EUR 127,304.88 123,439.26 0.52 Acs 818 EUR 28,633.52 27,668.85 0.12 Aena Sa 917 EUR 167,360.64 156,669.45 0.66 Altice N.V. 5,664 EUR 125,735.56 114,412.80 0.48 Amadeus It Holding Sr. A 3,295 EUR 172,796.61 172,493.25 0.73 Amer Sports Corporation A* 1,781 EUR 37,422.19 39,003.90 0.16 Andritz Ag Graz 1,659 EUR 82,977.88 87,495.66 0.37 Arkema 308 EUR 30,542.55 28,776.44 0.12 Asml Holding Nv 681 EUR 80,167.57 77,702.10 0.33 Assicurazioni Generali Spa 20,793 EUR 300,748.37 299,627.13 1.26 Atlantia Spa* 5,664 EUR 146,523.53 139,560.96 0.59 Atos 1,689 EUR 212,068.40 207,578.10 0.87 Azimut Holding Spa 10,931 EUR 166,021.49 191,839.05 0.81 Beiersdorf Ag 1,465 EUR 126,443.14 134,838.60 0.57 Belgacom Sa 7,138 EUR 207,401.35 218,636.94 0.92 Bmw-Bayer. Motorenwerke 5,861 EUR 497,194.02 476,382.08 2.01 Bpost 13,794 EUR 299,189.07 291,536.19 1.23 Bureau Veritas 10,194 EUR 190,595.56 197,508.75 0.83 Cap Gemini Sa 1,375 EUR 111,695.29 124,410.00 0.52 Covestro Ag 2,227 EUR 160,745.89 140,768.67 0.59 Daimler Ag /Namen-Akt. 3,740 EUR 244,848.74 237,003.80 1.00 Dassault Aviation Sa 100 EUR 134,171.18 122,255.00 0.52 Deutsche Boerse Ag /Nam. 1,444 EUR 135,434.49 133,454.48 0.56 Deutsche Lufthansa /Nam. 21,990 EUR 399,832.52 438,150.75 1.85 Deutsche Post Ag. Bonn 6,226 EUR 201,385.58 204,337.32 0.86 Deutsche Wohnen Ag 6,965 EUR 230,791.30 233,257.85 0.98 Dialog Semiconductor 550 EUR 22,941.80 20,559.00 0.09 E. On-Namen Akt. 6,850 EUR 50,215.44 56,498.80 0.24 Eads. Eur. Aeronaut. Defence+Sp.* 2,092 EUR 156,658.25 150,624.00 0.63 Edenred 14,135 EUR 318,415.44 322,702.05 1.36 Edp-Energias De Portugal Sa 60,956 EUR 197,582.54 174,517.03 0.74 Eiffage Sa 1,186 EUR 95,997.54 94,358.16 0.40 Elisa Corporation A 9,397 EUR 315,163.74 318,840.21 1.34 Enagas 5,102 EUR 119,676.49 125,254.10 0.53 Endesa Sa 11,732 EUR 263,046.12 236,634.44 1.00 Essilor International 1,175 EUR 139,261.01 130,895.00 0.55 Etab Colruyt 2,529 EUR 121,338.35 116,650.13 0.49 Evonik Industr Shs 3,689 EUR 113,551.87 103,236.67 0.44 Faurecia Sa 599 EUR 27,882.92 26,637.53 0.11 Fe New Nv 2,800 EUR 220,824.37 210,420.00 0.89 France Telecom Sa 2,166 EUR 33,424.81 30,085.74 0.13 Freenet Ag Namens-Aktien 7,718 EUR 214,690.44 215,525.15 0.91 Galapagos Genomics Nv 1,997 EUR 143,233.58 133,519.42 0.56 Gaz De France 6,537 EUR 88,619.08 86,386.46 0.36 Gbl 1,408 EUR 121,397.58 118,680.32 0.50


152

UBI SICAV




Grifols. Sa 3,262 EUR 81,621.13 79,543.87 0.34 Groupe Danone* 1,577 EUR 100,814.96 103,782.37 0.44 Hannover Rueckve /Namen Akt 1,112 EUR 116,738.96 116,704.40 0.49 Heidelbergcement Ag 350 EUR 30,809.00 29,627.50 0.13 Heineken Holding 1,539 EUR 128,874.45 123,504.75 0.52 Heineken Nv 2,656 EUR 234,697.52 226,105.28 0.95 Henkel /Vorzug. 2,500 EUR 317,390.66 301,250.00 1.27 Hochtief Ag 785 EUR 128,152.72 125,914.00 0.53 Inditex 8,004 EUR 259,788.16 269,014.44 1.13 Infineon Technologies /Nam. 12,656 EUR 234,134.00 233,946.16 0.99 Ingenico. Ind. Fin. Ing. 3,343 EUR 292,727.33 265,735.07 1.12 Ipsen 254 EUR 27,535.10 30,441.90 0.13 Jeronimo Martins Sgps Sa 7,668 EUR 130,556.96 131,046.12 0.55 K+S Aktiengesellschaft* 5,611 EUR 128,598.57 125,798.62 0.53 Kering Act. 633 EUR 189,399.14 188,760.60 0.80 Kone Oyj -B-* 2,919 EUR 120,565.85 130,012.26 0.55 Koninklijke Dsm Nv 437 EUR 28,013.65 27,810.68 0.12 L Oreal 1,358 EUR 243,862.97 247,699.20 1.04 Legrand Holding Act. Prov. Opo 2,090 EUR 125,909.82 128,012.50 0.54 Lvmh Moet Hennessy Eur 0.3 1,681 EUR 369,809.34 366,962.30 1.55 Merck Kgaa 272 EUR 27,101.38 28,764.00 0.12 Metro Ag 4,306 EUR 128,027.66 127,263.83 0.54 Metso Corp* 3,878 EUR 118,808.15 117,736.08 0.50 Moncler S.P.A. 6,877 EUR 144,859.53 140,978.50 0.59 Mtu Aero Engines Hlds /Namen. 1,007 EUR 128,452.92 124,364.50 0.52 Nokian Tyres Plc 6,760 EUR 246,856.28 244,982.40 1.03 Omv Ag 2,705 EUR 128,775.41 122,901.68 0.52 Prosiebeen Sat. 1 Media 2,593 EUR 100,494.67 95,007.52 0.40 Qiagen Nv 8,336 EUR 250,633.51 242,786.00 1.02 Recordati Ind Chimica/Post Rag 3,421 EUR 123,792.34 121,513.92 0.51 Red Electrica Corporacion. Sa 3,804 EUR 65,226.75 69,594.18 0.29 Reed Elsevier Nv 21,470 EUR 366,541.98 386,460.00 1.63 Rexel Sa 1,833 EUR 28,847.33 26,257.73 0.11 Rwe Ag (Neu). Essen A 11,622 EUR 182,396.65 202,745.79 0.85 Safran Sa 2,900 EUR 232,684.34 232,696.00 0.98 Saint-Gobain 2,766 EUR 137,247.36 129,393.48 0.55 Saipem Spa 17,035 EUR 58,629.56 55,091.19 0.23 Sanofi-Aventis 2,122 EUR 187,893.41 177,738.72 0.75 Sbm Offshore Nv 9,227 EUR 124,433.40 129,454.81 0.55 Schaeffler Ag /Pfd 5,486 EUR 85,159.76 68,794.44 0.29 Schneider Electric Sa 1,681 EUR 115,096.06 113,080.87 0.48 Scor Se 3,629 EUR 127,564.10 125,962.59 0.53 Seb Sa 798 EUR 127,524.07 125,485.50 0.53 Sfr Group Sa 3,994 EUR 125,587.92 118,422.10 0.50 Sodexo 2,982 EUR 358,662.22 337,562.40 1.42 Software Ag 3,807 EUR 162,252.21 145,998.45 0.62 Stmicroelectronics Nv 9,275 EUR 137,882.56 116,679.50 0.49 Stora Enso Ab /-R-* 11,460 EUR 129,086.31 129,612.60 0.55 Suez Environnement Cie 11,031 EUR 179,981.64 178,867.67 0.75 Technipfmc Plc 12,929 EUR 363,851.26 306,999.11 1.29 Telecom Italia Spa 488,331 EUR 415,380.33 394,571.45 1.66 Telefonica Sa 22,985 EUR 229,895.95 207,738.43 0.88 Teleperformance 1,442 EUR 169,132.66 161,720.30 0.68 Tenaris Sa 9,432 EUR 126,884.72 128,746.80 0.54 Terna - Rete Elettrica Nazional 63,722 EUR 306,427.81 301,150.17 1.27 Thyssenkrupp Ag Duesseldorf 5,521 EUR 122,997.06 137,334.88 0.58 Unilever Cert. of Shs 7,143 EUR 334,640.96 345,149.76 1.45 Vinci 788 EUR 62,416.30 58,887.24 0.25 Voestalpine Ag 8,903 EUR 356,381.80 363,242.40 1.53 Wartsila Corporation -B- 2,466 EUR 131,411.92 127,615.50 0.54 Wienerberger Ag 6,589 EUR 138,176.15 131,055.21 0.55


153

UBI SICAV




Wirecard Ag /Apres Red.Cap 5,555 EUR 333,212.14 309,524.60 1.30 Wolters Kluwer Nv 3,491 EUR 134,771.58 129,393.92 0.55

18,351,390.94 18,010,958.12 75.91




UBI SICAV





Comunicazioni 7.57 Germania 19.17

Servizi Pubblici 6.57 Francia 18.92

Software e Servizi Internet 4.95 Paesi bassi 9.24

Holding e Società Finanziarie 4.65 Spagna 5.68

Industria Automobilistica 4.30 Finlandia 4.67

Farmaceutica e Cosmetica 4.23 Belgio 3.70

Trasporti 3.96 Austria 2.97

Costruzioni e Materiali da Costruzione 3.51 Gran Bretagna 1.38

Retail 3.51 Portogallo 1.29

Semiconduttori elettronici 3.02 Lussemburgo 0.54

Miniere e industrie pesanti 2.65 Cassa e Altre Attività / (Passività) 7.49



Meccanica e macchinari 2.48

Assicurazioni 2.28

Tessile 2.14


Cibo e bevande 1.89

Chimica 1.80


Biotecnologia 1.36

Petrolio 1.30

Altri servizi 1.29


Ruote e Gomma 1.03 Industrie cartarie e prodotti forestali 0.55


100.00

100.00

155

UBI SICAV




netto


Obbligazioni Italy Frn 10-15.10.17 Cct 2,400,000 EUR 2,429,520.00 2,406,436.80 5.88 Italy Frn 13-15.11.19 /Cct 4,000,000 EUR 4,149,760.00 4,095,292.00 10.00

6,579,280.00 6,501,728.80 15.88

Azioni Akzo Nobel Nv (Eur 2) 9,000 EUR 702,927.26 684,810.00 1.67 Allergan Plc* 7,000 USD 1,448,479.13 1,491,741.91 3.64 Allianz Se /Nam. Vinkuliert 4,000 EUR 488,898.13 689,600.00 1.68 Anheuser-Busch Inbev Sa /Nv 5,000 EUR 524,133.49 483,550.00 1.18 Autogrill Spa 66,000 EUR 409,645.00 700,260.00 1.71 Bayer 5,000 EUR 424,799.16 566,000.00 1.38 Bme* 22,000 EUR 602,413.40 695,530.00 1.70 British American Tobacco (25p) 9,000 GBP 520,946.33 536,331.49 1.31 Deutsche Telekom /Nam. 73,000 EUR 962,850.10 1,147,560.00 2.80 Eni Spa Roma 68,000 EUR 1,005,840.14 894,880.00 2.19 Evonik Industr Shs 17,000 EUR 509,066.52 475,745.00 1.16 Fiat Chrysler Automobiles Nv 44,000 EUR 279,613.89 406,120.00 0.99 Finmeccanica /Post Regroup. 40,000 EUR 289,749.75 582,000.00 1.42 France Telecom Sa 35,000 EUR 505,566.31 486,150.00 1.19 Henkel /Vorzug. 5,000 EUR 432,144.46 602,500.00 1.47 Inditex 40,000 EUR 951,324.97 1,344,400.00 3.28 Intesa Sanpaolo 284,000 EUR 644,432.69 788,384.00 1.93 Jeronimo Martins Sgps Sa 83,000 EUR 1,091,905.56 1,418,470.00 3.46 Koninklijke Ahold Delhaize N.V. 73,000 EUR 1,223,401.87 1,222,020.00 2.98 Lafargeholcim N Namen-Akt. 13,000 CHF 606,085.28 653,332.38 1.60 Livanova Plc 8,000 USD 396,733.32 429,280.27 1.05 Nokia Oy 241,000 EUR 1,133,999.47 1,290,555.00 3.15 Nordea Bank Ab /Finn. Dep. Rec 84,000 EUR 776,414.82 935,760.00 2.29 Pernod-Ricard 7,000 EUR 695,223.91 820,750.00 2.00 Prysmian Spa 62,000 EUR 1,036,887.85 1,596,500.00 3.90 Red Electrica Corporacion. Sa 26,000 EUR 506,438.70 475,670.00 1.16 Saipem Spa 190,000 EUR 717,925.78 614,460.00 1.50 Sampo Plc A* 37,000 EUR 1,181,622.16 1,660,190.00 4.05 Scor Se 22,000 EUR 558,187.95 763,620.00 1.87 Shire Plc 25,000 GBP 1,319,832.16 1,206,307.50 2.95 Shire Plc /Adr 148 USD 22,912.01 21,442.94 0.05 Siemens Ag /Nam. 9,000 EUR 799,875.58 1,083,150.00 2.65 Sports Direct International* 141,000 GBP 751,446.59 467,484.86 1.14 Total Sa* 41,000 EUR 1,736,531.86 1,774,685.00 4.33 Unicredit Spa 43,000 EUR 591,943.62 703,050.00 1.72 Unilever Cert. of Shs 25,000 EUR 923,613.72 1,208,000.00 2.95 Volkswagen Ag /Vorzug. 8,000 EUR 1,158,148.90 1,066,800.00 2.61

27,931,961.84 31,987,090.35 78.11




156

UBI SICAV





Comunicazioni

Retail

Petrolio

Assicurazioni Banche e Istituzioni Finanziarie

Tabacco e alcolici

Chimica Farmaceutica e Cosmetica


Cibo e bevande

Varie


Intrattenimento

Edifici commerciali Costruzioni e Materiali da Costruzione

Beni di consumo


Servizi Pubblici

Educazione Sanitaria e Servizi Sociali

Biotecnologia


15.88 Italia

11.04 Germania

10.86 Francia

8.02 Paesi bassi

7.60 Finlandia

5.94 Spagna

4.49 Irlanda

4.21 Gran Bretagna

3.64 Portogallo

3.60 Jersey

2.95 Svezia

2.95 Svizzera

2.65 Belgio


1.70

1.60

1.47

1.42

1.16

1.05

0.05

6.01

30.25

13.75

9.39

8.59

7.20

6.14

3.64

3.55

3.46

2.95

2.29

1.60

1.18

6.01

100.00

100.00

157

UBI SICAV




netto


Obbligazioni Italy 0% 15-30.08.17 /Ctz 5,000,000 EUR 5,006,600.00 5,002,600.10 7.19 Italy 0% 16-28.03.18 /Ctz 10,000,000 EUR 10,020,650.00 10,023,400.10 14.41 Italy 0% 17-14.02.18 Bot 5,000,000 EUR 5,011,918.00 5,011,085.15 7.20 Italy 0.75% 14-15.01.18 /Btp 10,000,000 EUR 10,081,000.00 10,055,259.70 14.45 Italy 2.15% 13-12.11.17 Infl 10,000,000 EUR 10,236,531.71 10,118,816.90 14.55 Spain 0.5% 14-31.10.17 7,000,000 EUR 7,036,673.00 7,020,509.93 10.09

47,393,372.71 47,231,671.88 67.89

Buoni del Tesoro Spain 0% 16-13.10.17 Tb 10,000,000 EUR 10,020,232.25 10,010,759.70 14.39 Spain 0% 16-15.09.17 Tb 5,000,000 EUR 5,008,462.30 5,004,394.90 7.19

15,028,694.55 15,015,154.60 21.58




UBI SICAV






100.00

Italia 57.80 Spagna 31.67


100.00

159

UBI SICAV




netto


Obbligazioni Italy 0% 16-14.08.17 Bot 5,000,000 EUR 5,006,666.22 5,002,885.05 22.94 Italy 0% 16-14.09.17 Bot 1,800,000 EUR 1,801,862.45 1,801,593.02 8.26 Italy 4.25% 03-01.02.19 /Btp 1,000 EUR 946.75 1,069.20 - Italy 4.25% 09-01.09.19 1,000 EUR 935.82 1,090.77 0.01 Italy 4.5% 04-01.02.20 /Btp 1,000 EUR 943.31 1,111.84 0.01 Italy 4.5% 07-01.02.18 /Btp 1,000 EUR 972.45 1,028.12 - Italy 4.5% 08-01.03.19 /Btp 1,000 EUR 955.76 1,076.96 - Italy 4.5% 08-01.08.18 /Btp 1,000 EUR 965.50 1,052.38 - Italy 5.25% 02-01.08.17 /Btp 4,214,000 EUR 4,270,425.46 4,232,288.69 19.40

11,084,673.72 11,043,196.03 50.62




Swaption Call Fut-Derivativo 02-04.08.17 3,156,154 EUR 323,505.78 6,665,797.24 30.56

323,505.78 6,665,797.24 30.56

Totale - Strumenti Finanziari 323,505.78 6,665,797.24 30.56



UBI SICAV





Varie 30.56 Unione Europea 30.56


100.00 100.00

161

UBI SICAV




netto


Obbligazioni Air France 6.25% 12-18.01.18 2,000,000 EUR 2,057,610.00 2,060,600.00 0.81 Alliander 3.25% /Frn 13-Perp 2,000,000 EUR 2,014,635.00 2,075,200.04 0.82 Amer Movil 5.125% (Frn) 06.09.73 3,000,000 EUR 3,032,820.00 3,154,500.06 1.25 Arcelormit 3% 14-25.03.19 4,000,000 EUR 3,985,920.00 4,186,615.92 1.66 Arion 2.5% 16-26.04.19 3,000,000 EUR 3,120,900.00 3,109,200.00 1.23 Aviva Plc 6.875% (Tv) 22.05.38 Emtn 3,000,000 EUR 3,356,385.00 3,168,000.00 1.25 Banco Pop 3.5% 14-14.03.19 4,000,000 EUR 4,104,527.92 4,151,120.00 1.64 Bayer Ag 3% 14-01.07.75 3,000,000 EUR 3,010,000.00 3,119,154.06 1.23 Bbvasm 3.5% 14-11.04.24 3,000,000 EUR 2,990,820.00 3,151,523.91 1.25 Bco Brasil 3.75% 13-25.07.18 2,000,000 EUR 1,962,910.00 2,054,429.95 0.81 Bg Energy 6.5% (Frn) 12-30.11.72 3,000,000 EUR 3,282,400.00 3,074,400.00 1.22 Bk Ireland 4.25% 14-11.06.24 2,000,000 EUR 1,992,240.00 2,110,028.08 0.83 Bnpp 7.781% 08-Perp 3,000,000 EUR 3,355,000.00 3,218,846.97 1.27 Bp Milan 4.25% 14-30.01.19 5,000,000 EUR 5,280,026.67 5,240,800.10 2.07 Caixabank 5% 13-14.11.23 2,000,000 EUR 2,120,200.00 2,114,380.04 0.84 Citigp Frn 04-10.02.19 3,000,000 EUR 3,000,300.00 3,008,100.00 1.19 Cloverie Frn 09-24.07.39 2,000,000 EUR 2,440,000.00 2,285,000.00 0.90 Cnh Ind Fin 2.75% 14-18.03.19 2,000,000 EUR 1,989,420.00 2,082,095.94 0.82 Credit Agrico Frn 08-Perp 3,000,000 EUR 3,335,400.00 3,173,100.00 1.25 Deut Bk 1% 16-18.03.19 5,000,000 EUR 5,000,580.00 5,068,225.10 2.00 Dnb Bank As 3% 13-26.09.23 3,000,000 EUR 3,014,210.00 3,097,050.04 1.22 Dong Energy 4.875% /Frn Perp 3,000,000 EUR 3,176,250.00 3,127,380.06 1.24 Dsk Bk 3.875% (Frn) 13-04.10.23 4,000,000 EUR 4,219,460.00 4,172,551.89 1.65 Dt An Fin 4.625% 14-08.04.74 3,000,000 EUR 3,069,340.00 3,174,659.97 1.26 Edp Fin Bv 2.625% 14-15.04.19 3,000,000 EUR 3,074,265.00 3,135,240.09 1.24 Enel 6.5% (Frn) 13-10.01.74 4,000,000 EUR 4,267,795.00 4,325,968.00 1.71 Ep Energy 5.875% 12-01.11.19 2,000,000 EUR 2,184,000.00 2,246,000.00 0.89 Fga Cap Ie 2.625% 14-17.04.19 4,000,000 EUR 4,177,600.00 4,166,856.08 1.65 Fga Cap Ie 4% 13-17.10.18 5,000,000 EUR 5,268,153.00 5,250,725.15 2.08 Fiat Ft 6.625% 13-15.03.18 5,000,000 EUR 5,158,500.00 5,209,500.00 2.06 Fincan Can 3.75% 13-19.11.18 3,500,000 EUR 3,560,090.00 3,646,300.00 1.44 Finmeccanica 5.75% 03-12.12.18 3,000,000 EUR 3,247,875.00 3,232,175.92 1.28 Gaz Cap 3.7% 13-25.07.18 Regs 2,000,000 EUR 1,955,000.00 2,057,187.96 0.81 Gdf 3.875% Ftf 13-Perp 3,000,000 EUR 3,058,725.00 3,097,500.00 1.22 Gpb EuroBd 3.984% 13-30.10.18 2,000,000 EUR 2,000,000.00 2,070,791.94 0.82 Gpn Capital 2.933% 13-26.04.18 2,000,000 EUR 2,000,000.00 2,032,200.00 0.80 Hsbc Hldg 3.375% /Frn 13-10.01.24 2,000,000 EUR 2,106,640.00 2,091,255.96 0.83 Hutchison Wh Frn (3.75%) 13-Perp 3,000,000 EUR 2,987,775.00 3,066,600.00 1.21 Iberdrola 5.75% (Frn) 13-Perp 3,000,000 EUR 3,094,220.00 3,105,600.00 1.23 Ing Nv 3.5% 13-21.11.23 5,000,000 EUR 5,149,300.00 5,218,119.80 2.06 Intesa 5% 09-23.09.19 3,000,000 EUR 3,274,800.00 3,264,786.06 1.29 Intesa San 6.625% 08.05.18 Emtn 3,000,000 EUR 3,177,600.00 3,147,900.00 1.24 Is Vita 5.35% 13-18.09.18 /Sub 2,000,000 EUR 2,000,000.00 2,117,084.04 0.84 Italy 3.5% 13-01.12.18 2,000,000 EUR 2,005,080.00 2,105,287.94 0.83 Kpn (6.125%) Frn 13-Perp /Sub 3,000,000 EUR 3,200,700.00 3,185,999.91 1.26 La Caixa 2.375% 14-09.05.19 4,000,000 EUR 4,087,320.00 4,159,200.12 1.64 Linea Group 3.875% 13-28.11.18 3,000,000 EUR 2,983,320.00 3,161,100.00 1.25 Lloyds Frn 12-12.02.24 2,000,000 EUR 2,507,500.00 2,322,000.00 0.92 Mediaset 5.125% 13-24.01.19 2,000,000 EUR 1,989,260.00 2,137,000.00 0.85 Mediobanca 2.4% 13-30.09.18 5,000,000 EUR 5,186,900.00 5,218,920.15 2.06 Mediobca 2.25% 14-18.03.19 2,500,000 EUR 2,497,200.00 2,588,567.55 1.02 Nat Aust 6.75% (Frn) 26.06.23 2,000,000 EUR 2,310,600.00 2,124,664.00 0.84 Nationwide 4.125% 20.03.23 Emtn 4,000,000 EUR 4,154,620.00 4,104,800.00 1.62 Nykredit 0.875% 16-13.06.19 3,000,000 EUR 3,051,000.00 3,036,762.09 1.20 Omv 6.75% (Frn) 11-Perp /Sub 4,000,000 EUR 4,457,700.00 4,190,000.00 1.66 Pemex 3.75% 16-15.03.19 3,000,000 EUR 3,060,672.00 3,157,500.00 1.25 Pirelli Int 1.75% 14-18.11.19 4,000,000 EUR 4,013,100.00 4,079,600.00 1.61 Poste Vita 2.875% 14-30.05.19 3,000,000 EUR 3,136,833.33 3,141,900.09 1.24 Rallye 4.25% 13-11.03.19 2,000,000 EUR 2,000,000.00 2,085,600.00 0.82 Rbs Grp 3.625% 14-25.03.24 2,000,000 EUR 1,992,640.00 2,072,664.04 0.82


UBI SICAV




Rci Bq 0.375% 16-10.07.19 2,000,000 EUR 2,011,760.00 2,010,308.08 0.79 Shb 2.656% 14-15.01.24 4,000,000 EUR 4,081,950.00 4,134,872.12 1.63 Socgen 6.999% 07-Perp 3,000,000 EUR 3,286,250.00 3,089,100.00 1.22 Solvay Fin 4.199% /Frn 13-Perp 3,000,000 EUR 3,031,625.00 3,173,562.00 1.25 Swedbank 2.375% 14-26.02.24 2,000,000 EUR 1,996,280.00 2,064,060.06 0.82 Telefonica 6.5% /Frn 13-Perp 5,000,000 EUR 5,273,750.00 5,336,949.90 2.11 Telekom Austria Ag Frn Perpetual 2,500,000 EUR 2,546,559.37 2,574,750.00 1.02 Tesco Corp 1.375% 14-01.07.19 4,000,000 EUR 4,000,920.00 4,069,039.92 1.61 Teva 2.875% 12-15.04.19 3,000,000 EUR 3,156,300.00 3,139,826.88 1.24 Thyssenkp 4% 13-27.08.18 Emtn 2,000,000 EUR 2,166,200.00 2,086,067.96 0.82 Tvo Power Co 4.625% 12-04.02.19 2,000,000 EUR 2,263,400.00 2,132,581.94 0.84 Unic Bka 2.5% 13-27.05.19 4,000,000 EUR 4,121,735.00 4,166,112.08 1.65 Unicredit 5.65% 12-24.08.18 2,000,000 EUR 2,149,000.00 2,125,040.00 0.84 Unicredit St-Up 11-31.10.18 5,000,000 EUR 5,318,600.00 5,255,000.00 2.08 Veolia 4.45% 13 Ftf /Perp 3,000,000 EUR 3,040,890.00 3,089,100.00 1.22 Vw Intl Fin Frn 13 Ftf /Perp 3,000,000 EUR 3,004,200.00 3,097,218.04 1.22 Zf Na Cap 2.25% 15-26.04.19 1,500,000 EUR 1,495,092.85 1,547,850.03 0.61

242,232,650.14 243,621,758.03 96.27




UBI SICAV




Banche e Istituzioni Finanziarie 36.11

Holding e Società Finanziarie 20.35


Comunicazioni 6.49

Petrolio 4.15

Assicurazioni 3.33

Società Immobiliari 2.88



Varie 1.61


Altri servizi 1.25

Farmaceutica e Cosmetica 1.24

Chimica 1.23



Retail 0.82

Trasporti 0.81


100.00

Italia 20.40

Paesi bassi 11.20

Gran Bretagna 9.88

Francia 9.85

Lussemburgo 7.43

Irlanda 6.28

Austria 4.33

Danimarca 4.09

Germania 4.05

Spagna 3.73

Messico 2.50

Svezia 2.45

Stati Uniti d’America 1.80

Curaçao 1.24

Islanda 1.23

Norvegia 1.22

Hong Kong 1.21


Australia 0.84

Finlandia 0.84 Isole Cayman 0.81


100.00

164

UBI SICAV




netto


Obbligazioni Btps 2% 15-01.12.25 /Btp 500,000 EUR 512,425.00 504,670.98 1.95 Italy 0% 15-30.08.17 /Ctz 500,000 EUR 500,960.00 500,260.01 1.93 Italy 0.05% 16-15.10.19 /Btp 700,000 EUR 696,682.00 699,601.01 2.70 Italy 0.35% 17-15.06.20 /Btp 1,000,000 EUR 998,140.00 1,002,893.98 3.88 Italy 1.2% 17-01.04.22 1,000,000 EUR 1,009,090.00 1,015,899.96 3.93 Italy 1.65% 14-23.04.20 /Btp 3,500,000 EUR 3,680,334.94 3,684,139.45 14.24 Italy 2.15% 13-12.11.17 Infl 4,000,000 EUR 4,169,095.31 4,047,526.76 15.65 Italy 2.2% 17-01.06.27 /Btp 600,000 EUR 597,174.00 603,286.79 2.33 Italy 2.35% 08-15.09.19 /Infl 1,100,000 EUR 1,322,468.76 1,316,321.04 5.09 Italy 3.75% 14-01.09.24 /Btp 1,500,000 EUR 1,805,400.00 1,714,676.97 6.63 Italy 4.5% 13-01.03.24 1,500,000 EUR 1,838,850.00 1,786,736.99 6.91 Italy 4.5% 13-01.05.23 /Btp 2,500,000 EUR 2,975,318.75 2,962,602.43 11.45 Italy 5% 09-01.09.40 /Btp 500,000 EUR 675,910.00 647,947.01 2.50 Italy 5.5% 12-01.11.22 /Btp 3,000,000 EUR 3,282,702.00 3,690,270.09 14.26

24,064,550.76 24,176,833.47 93.45

Fondi d’Investimento Ubi Eurcorbdhp -I- Eur /Cap* 250,000 EUR 1,249,750.00 1,277,250.00 4.94

1,249,750.00 1,277,250.00 4.94



* Investimento in comparti incrociati, Cfr. Nota 16, per ulteriori dettagli. Le note allegate formano parte integrante del rendiconto finanziario.

165

UBI SICAV







100.00 100.00

166

UBI SICAV




netto


Obbligazioni Argentina 16% 16-17.10.23 30,645,300 ARS 2,008,095.58 1,738,402.26 0.62 Argentina 18.2% 16-03.10.21 12,080,000 ARS 797,413.52 676,391.53 0.24 Argentina 22.75% 16-05.03.18 26,504,000 ARS 1,616,941.75 1,407,563.00 0.50 Belarus 8.95% 26.01.18 Regs 1,520,000 USD 1,399,425.70 1,364,228.98 0.49 Brazil 6% 10-15.08.50 /Infl 445 BRL 294,715.50 372,138.20 0.13 Brazil 10% 10-01.01.21 30,390 BRL 7,795,689.69 8,058,682.45 2.87 Brazil 10% 12-01.01.23 61,666 BRL 16,351,854.55 16,141,747.84 5.75 Brazil 10% 13-01.01.19 15,910 BRL 4,154,694.55 4,275,739.86 1.52 Brazil 10% 14-01.01.25 22,150 BRL 5,555,219.62 5,725,445.44 2.04 Brazil 10% 16-01.01.27 3,690 BRL 970,759.02 947,278.54 0.34 Brazil Loan 5.477% 24.07.23 /Pool 1,095,701 USD 1,056,436.36 970,272.41 0.35 Colombia 7% 12-04.05.22 3,145,800,000 COP 1,184,119.77 942,050.25 0.34 Czech Rep 1% 15-26.06.26 37,040,000 CZK 1,443,169.31 1,435,536.83 0.51 Czech Rep 2.5% 13-25.08.28 38,730,000 CZK 1,712,482.75 1,704,987.38 0.61 Hungary 3.25% 15-22.10.31 1,123,220,000 HUF 3,539,205.61 3,474,807.28 1.24 Hungary 5.5% 14-24.06.25 501,590,000 HUF 1,853,283.41 1,942,616.35 0.69 Indonesia 5.625% 12-15.05.23 30,000,000,000 IDR 1,763,134.35 1,852,476.42 0.66 Indonesia 6.625% 12-15.05.33 47,000,000,000 IDR 3,690,260.55 2,845,192.79 1.01 Indonesia 7% 11-15.05.22 91,700,000,000 IDR 7,684,495.85 6,119,453.15 2.18 Indonesia 7.5% 16-15.08.32 10,000,000,000 IDR 680,067.48 665,887.17 0.24 Indonesia 8.25% 10-15.07.21 29,000,000,000 IDR 1,923,847.81 2,008,315.72 0.71 Indonesia 8.25% 11-15.06.32 25,000,000,000 IDR 2,590,725.41 1,738,603.46 0.62 Indonesia 8.25% 15-15.05.36 21,050,000,000 IDR 1,471,480.34 1,484,755.76 0.53 Indonesia 8.375% 13-15.03.34 80,200,000,000 IDR 5,602,874.63 5,677,982.12 2.02 Indonesia 8.75% 13-15.02.44 31,700,000,000 IDR 2,152,842.54 2,288,691.81 0.81 Indonesia 8.75% 15-15.05.31 16,650,000,000 IDR 1,159,998.40 1,234,628.81 0.44 Indonesia 9% 13-15.03.29 56,520,000,000 IDR 3,641,771.16 4,233,145.91 1.51 Indonesia 11.5% 06-15.09.19 12,000,000,000 IDR 858,342.51 868,829.86 0.31 Indonesia 12.8% 06-21 S.Fr 0034 17,500,000,000 IDR 1,476,717.74 1,395,573.25 0.50 Malaysia 3.226% 16-15.04.20 11,160,000 MYR 2,313,094.86 2,254,553.20 0.80 Malaysia 3.48% 13-15.03.23 19,090,000 MYR 4,049,025.87 3,835,928.40 1.37 Malaysia 3.759% 15-15.03.19 9,070,000 MYR 1,950,752.93 1,864,725.73 0.66 Malaysia 3.8% 16-17.08.23 30,875,000 MYR 6,774,082.12 6,269,533.69 2.23 Malaysia 3.955% 15-15.09.25 3,070,000 MYR 717,134.08 624,715.64 0.22 Malaysia 4.048% 14-30.09.21 15,000,000 MYR 3,189,499.95 3,107,464.28 1.11 Malaysia 4.181% 14-15.07.24 10,700,000 MYR 2,569,534.17 2,221,025.65 0.79 Malaysia 4.24% 03-07.02.18 1,545,000 MYR 328,524.26 317,325.37 0.11 Malaysia 4.254% 15-31.05.35 1,700,000 MYR 371,221.35 337,432.86 0.12 Malaysia 4.498% 10-15.04.30 5,500,000 MYR 1,166,217.73 1,133,790.74 0.40 Mexico 5% 14-11.12.19 46,400 MXN 211,686.36 216,894.71 0.08 Mexico 6.5% 11-09.06.22 Bonos 981,210 MXN 4,880,203.80 4,720,628.20 1.68 Mexico 6.5% 11-10.06.21 618,430 MXN 2,988,718.05 2,993,253.98 1.07 Mexico 7.5% 06-03.06.27 Bonos 1,589,225 MXN 7,963,662.96 8,113,758.46 2.89 Mexico 7.75% 11-29.05.31 Bonos 768,630 MXN 4,280,989.42 4,022,499.23 1.43 Mexico 8% 03-07.12.23 S. M20 1,718,200 MXN 9,678,483.79 8,888,735.09 3.16 Mexico 8% 10-11.06.20 145,000 MXN 748,387.76 729,480.38 0.26 Mexico 10% 06-20.11.36 1,327,045 MXN 8,073,172.40 8,412,769.15 3.00 Min of Fin 3.4% 15-17.06.36 23,500,000 THB 699,210.68 642,957.99 0.23 Nigeria 5.625% 17-27.06.22 820,000 USD 724,177.79 710,230.56 0.25 Pemex 6.875% 16-04.02.26 845,000 USD 882,279.76 820,776.74 0.29 Peru 6.95% 08-12.08.31 /Usd 19,731,000 PEN 6,312,427.66 5,884,520.28 2.09 Peru 8.2% 06-12.08.26 Reg-S/Usd 3,484,000 PEN 1,159,945.53 1,131,174.78 0.40 Petro Gbl F 6.25% 14-17.03.24 3,115,000 USD 2,853,115.77 2,782,664.21 0.99 Philippines 4.95% 15.01.21 /Usd 20,000,000 PHP 389,099.21 359,344.36 0.13 Philippines 6.25% 11-14.01.36 25,000,000 PHP 542,203.60 490,451.65 0.17 Poland 2.25% 16-25.04.22 39,770,000 PLN 8,988,124.74 9,213,699.10 3.28 Poland 3.25% 13-25.07.25 37,925,000 PLN 9,006,280.50 9,025,615.77 3.21 Poland 4% 12-25.10.23 Se-23 5,135,000 PLN 1,214,994.95 1,289,545.16 0.46 Prov Buenos 9.95% 09.06.21 /Pool 1,530,000 USD 1,537,779.43 1,534,694.49 0.55 Romania 5.85% 12-26.04.23 23,380,000 RON 5,931,320.31 5,890,840.79 2.10


UBI SICAV




Russia 7.5% 16-18.08.21 126,250,000 RUB 1,872,825.87 1,843,387.59 0.66 Russia 7.7% 17-23.03.33 36,350,000 RUB 559,021.23 528,384.52 0.19 Russia 7.75% 16-16.09.26 495,850,000 RUB 8,126,484.95 7,336,004.03 2.61 Russia 8.5% 15-17.09.31 352,615,000 RUB 5,646,803.41 5,537,547.32 1.97 South Africa 7% 10-28.02.31 24,400,000 ZAR 1,383,324.50 1,338,169.84 0.48 South Africa 7.75% 12-28.02.23 24,145,000 ZAR 1,631,035.08 1,587,084.01 0.56 South Africa 8.25% 13-31.03.32 239,505,000 ZAR 12,963,956.30 14,451,900.59 5.15 South Africa 8.75% 14-31.01.44 2,715,000 ZAR 153,659.47 162,208.92 0.06 South Africa 9% 15-31.01.40 111,900,000 ZAR 6,423,483.33 6,902,554.65 2.46 South Africa 10.5% 97-21.12.26* 23,885,000 ZAR 1,844,978.32 1,783,735.38 0.63 Thailand Go 4.875% 09-22.06.29 266,550,000 THB 8,676,576.78 8,356,548.48 2.97 Thailand Gov 3.85% 10-12.12.25 36,300,000 THB 1,053,655.01 1,038,135.93 0.37 Turkey 5.125% 11-25.03.22 2,345,000 USD 2,178,672.19 2,133,586.19 0.76 Turkey 7.1% 13-08.03.23 16,950,000 TRY 4,408,293.71 3,635,348.24 1.29 Turkey 7.4% 15-05.02.20 14,310,000 TRY 3,359,619.84 3,302,975.91 1.18 Turkey 8% 15-12.03.25 14,090,000 TRY 3,897,117.93 3,088,881.86 1.10 Turkey 10.6% 16-11.02.26 44,030,000 TRY 11,355,334.33 11,142,535.73 3.97 Ukraine 7.75% 15-01.09.22 2,400,000 USD 2,140,073.51 2,116,384.68 0.75

266,600,333.01 259,717,829.34 92.47




Obbligazioni Malaysia 4.232% 11-30.06.31 4,190,000 MYR 859,733.70 836,778.25 0.30

859,733.70 836,778.25 0.30

Totale dei Totale dei valori mobiliari e strumenti del mercato monetario trattati su un altrosu un altro

mercato regolamentato 859,733.70 836,778.25 0.30


Obbligazioni Colombia 6% 12-28.04.28 26,630,500,000 COP 7,795,381.48 7,251,136.60 2.58 Colombia 10% 08-24.07.24 8,526,900,000 COP 3,140,132.46 2,972,748.69 1.06

10,935,513.94 10,223,885.29 3.64


TOTALE DEGLI INVESTIMENTI 278,395,580.65 270,778,492.88 96.41 * Titoli parzialmente o totalmente prestati (Cfr. Nota 9).


UBI SICAV





Petrolio 1.28 Brasile 12.65

Holding e Società Finanziarie 0.35 Indonesia 11.54

Cassa e Altre Attività / (Passività) 3.59 Sudafrica 9.34

100.00 Turchia 8.30

Malesia 8.11

Polonia 6.95

Russia 5.43

Colombia 3.98

Tailandia 3.57

Peru 2.49

Romania 2.10

Ungheria 1.93

Argentina 1.91


Paesi bassi 0.99

Ucraina 0.75

Russia Bianca 0.49


Filippine 0.30 Nigeria 0.25


100.00

169

UBI SICAV




netto


Obbligazioni Italy 0% 17-30.11.17 Bot 12,500,000 EUR 12,521,669.50 12,519,125.00 13.91 Italy 0.75% 14-15.01.18 /Btp 3,000,000 EUR 3,029,520.00 3,016,577.91 3.35 Italy 3.5% 12-01.11.17 Btp 8,000,000 EUR 8,237,840.16 8,100,960.08 9.00 Italy 3.5% 13-01.06.18 Btp 9,000,000 EUR 9,730,980.00 9,316,089.00 10.35 Italy 3.5% 13-01.12.18 10,000,000 EUR 10,684,000.00 10,526,439.70 11.69 Italy 4.5% 07-01.02.18 /Btp 11,500,000 EUR 12,034,520.00 11,823,426.12 13.14 Italy 4.5% 08-01.08.18 /Btp 5,500,000 EUR 5,917,725.00 5,788,095.39 6.43

62,156,254.66 61,090,713.20 67.87




Buoni del Tesoro Italy 0% 17-29.09.17 Bot 13,500,000 EUR 13,519,452.96 13,514,337.14 15.02

13,519,452.96 13,514,337.14 15.02

Totale - Strumenti Finanziari 13,519,452.96 13,514,337.14 15.02



UBI SICAV






100.00 100.00

171

UBI SICAV




netto


Obbligazioni Belgium 0.8% 17-22.06.27 Regs 3,500,000 EUR 3,489,239.00 3,498,312.90 0.87 Btps 1.3% 16-15.05.28 /Infl 2,000,000 EUR 2,008,886.17 2,027,300.18 0.50 France 1.75% 16-25.06.39 Oat 1,900,000 EUR 1,905,691.60 1,956,665.58 0.49 France 3.75% 09-25.10.19 Oat 1,800,000 EUR 2,039,832.00 1,976,104.80 0.49 France 4% 06-25.10.38 Oat 2,800,000 EUR 3,943,048.00 4,075,903.80 1.01 Germany 0% 16-15.08.26 1,500,000 EUR 1,465,065.00 1,446,588.02 0.36 Germany 0.1% 15-15.04.26 /Infl 4,000,000 EUR 4,542,184.86 4,413,163.60 1.09 Germany 0.1% 15.04.46 /Infl 4,000,000 EUR 4,763,974.09 4,508,003.08 1.12 Germany 0.25% 17-15.02.27 3,000,000 EUR 2,979,360.00 2,936,835.03 0.73 Italy 0% 17-30.05.19 /Ctz 5,000,000 EUR 5,011,950.00 5,003,929.90 1.24 Italy 0.25% 15-15.05.18 /Btp 7,600,000 EUR 7,567,857.15 7,640,203.92 1.89 Italy 0.3% 15-15.10.18 /Btp 2,960,000 EUR 2,968,140.00 2,983,164.96 0.74 Italy 0.65% 16-15.10.23 /Btp 1,000,000 EUR 973,380.00 959,420.01 0.24 Italy 0.7% 15-01.05.20 /Btp 1,700,000 EUR 1,739,423.00 1,723,324.03 0.43 Italy 1.05% 14-01.12.19 /Btp 13,900,000 EUR 14,186,340.00 14,216,919.86 3.52 Italy 1.65% 14-23.04.20 /Btp 3,300,000 EUR 3,497,759.58 3,473,617.19 0.86 Italy 2.15% 13-12.11.17 /Infl 5,500,000 EUR 5,736,757.71 5,565,349.30 1.38 Italy 2.2% 17-01.06.27 /Btp 5,000,000 EUR 4,922,035.71 5,027,389.90 1.25 Italy 2.25% 16-01.09.36 /Btp 3,500,000 EUR 3,318,112.65 3,194,030.11 0.79 Italy 2.5% 14-01.05.19 /Btp 1,470,000 EUR 1,475,173.44 1,539,060.57 0.38 Italy 2.55% 09-15.09.41 Infl 1,000,000 EUR 1,275,908.83 1,258,203.04 0.31 Italy 2.7% 16-01.03.47 /Btp 1,000,000 EUR 991,820.00 891,882.02 0.22 Italy 2.8% 16-01.03.67 /Btp 1,000,000 EUR 958,616.00 834,120.03 0.21 Italy 3.45% 17-01.03.48 Btp 1,261,000 EUR 1,247,835.16 1,281,554.30 0.32 Italy 3.5% 13-01.12.18 5,000,000 EUR 5,310,850.00 5,263,219.85 1.30 Italy 4.5% 04-01.02.20 /Btp 2,500,000 EUR 2,667,800.00 2,779,595.00 0.69 Italy 4.5% 08-01.08.18 /Btp 5,000,000 EUR 5,631,300.00 5,261,904.90 1.30 Spain 0.25% 15-30.04.18 7,610,000 EUR 7,590,594.50 7,648,050.00 1.90 Spain 1.15% 15-30.07.20 4,445,000 EUR 4,550,892.70 4,617,350.56 1.14 Spain 1.5% 17-30.04.27 1,600,000 EUR 1,588,768.00 1,595,904.05 0.40 Spanish Gov 1.95% 15-30.07.30 3,000,000 EUR 3,171,359.99 3,004,739.91 0.74

113,519,955.14 112,601,810.40 27.91

Fondi d’Investimento Ubi Pramerica Cap Growth Cap 888,000 EUR 4,440,000.00 5,050,056.00 1.25 Ubi Pramerica Infl Shield Cap 1,298,000 EUR 6,490,000.00 6,000,654.00 1.49 Ubi Sicav Euro Corp Sh Term I** 2,925,000 EUR 17,016,275.00 17,084,925.00 4.24 Ubi Sicav Euro Corp. Bond I** 3,000,000 EUR 23,473,227.11 23,964,000.00 5.94

51,419,502.11 52,099,635.00 12.92

Azioni Abb Ltd Zuerich /Namen.* 125,000 CHF 2,115,973.06 2,709,631.28 0.67 Aberdeen Asset Management Plc* 627,000 GBP 3,157,617.64 2,155,914.58 0.53 Allergan Plc* 41,000 USD 8,840,495.24 8,737,345.49 2.17 Allianz Se /Nam. Vinkuliert 17,000 EUR 2,103,198.64 2,930,800.00 0.73 Anheuser-Busch Inbev Sa /Nv 22,000 EUR 2,130,597.33 2,127,620.00 0.53 Assa Abloy Ab* 236,712 SEK 2,714,548.99 4,553,889.13 1.13 Atlas Copco Ab* 70,000 SEK 1,412,441.21 2,349,937.56 0.58 Autogrill Spa 635,834 EUR 4,619,684.35 6,746,198.74 1.67 Bme* 99,413 EUR 2,661,643.44 3,142,942.00 0.78 Booker Group Plc 1,564,789 GBP 2,506,562.72 3,317,359.42 0.82 British American Tobacco (25p)* 96,000 GBP 3,890,027.11 5,720,869.19 1.42 Danske Bank As 91,000 DKK 1,534,613.25 3,064,667.92 0.76 Deutsche Telekom /Nam. 343,000 EUR 4,111,570.97 5,391,960.00 1.34 Eni Spa Roma 437,000 EUR 7,782,165.88 5,750,920.00 1.42 Evonik Industr -Shs- 72,000 EUR 1,968,469.30 2,014,920.00 0.50



UBI SICAV




Fiat Chrysler Automobiles Nv* 409,000 EUR 2,711,846.74 3,775,070.00 0.94 France Telecom Sa 225,000 EUR 3,339,081.33 3,125,250.00 0.77 Glaxosmithkline Plc 306,000 GBP 5,560,693.21 5,698,086.55 1.41 Henkel /Vorzug. 29,000 EUR 2,268,544.92 3,494,500.00 0.87 Inditex 245,000 EUR 6,107,997.44 8,234,450.00 2.04 Intesa Sanpaolo 1,529,000 EUR 3,469,498.55 4,244,504.00 1.05 Jeronimo Martins Sgps Sa 625,000 EUR 9,006,981.00 10,681,250.00 2.65 Koninklijke Ahold Delhaize N.V. 369,000 EUR 5,103,026.82 6,177,060.00 1.53 Livanova Plc 48,000 USD 2,591,543.82 2,575,681.60 0.64 Nokia Oy* 1,629,000 EUR 7,788,291.65 8,723,295.00 2.16 Nordea Bank Ab 466,000 SEK 4,345,595.80 5,192,021.26 1.29 Pernod-Ricard 43,000 EUR 3,777,504.63 5,041,750.00 1.25 Premier Oil Plc* 1,915,069 GBP 7,161,157.05 1,090,213.35 0.27 Prysmian Spa 453,868 EUR 8,375,259.06 11,687,101.00 2.90 Red Electrica Corporacion. Sa 152,000 EUR 2,995,617.87 2,780,840.00 0.69 Roche Holding Ag /Genussschein 20,000 CHF 4,774,089.32 4,470,891.61 1.11 Sa Des Ciments Vicat-Vicat 107,000 EUR 5,984,247.90 6,598,690.00 1.63 Saipem Spa 1,126,000 EUR 3,978,840.87 3,641,484.00 0.90 Sampo Plc A* 150,000 EUR 5,292,765.82 6,730,500.00 1.67 Scor Se 94,000 EUR 2,374,209.73 3,262,740.00 0.81 Shire Plc 182,000 GBP 8,824,430.08 8,781,918.59 2.18 Siemens Ag /Nam. 76,495 EUR 6,988,526.32 9,206,173.25 2.28 Skf Ab B 253,000 SEK 4,475,093.84 4,488,588.60 1.11 Sports Direct International* 947,000 GBP 7,926,237.63 3,139,774.20 0.78 Telenor As* 275,000 NOK 5,109,705.38 3,985,714.80 0.99 Total Sa* 193,000 EUR 8,561,872.30 8,354,005.00 2.07 Unicredit Spa 271,000 EUR 3,731,216.22 4,430,850.00 1.10 Unilever Cert.of Shs 121,000 EUR 3,578,554.65 5,846,720.00 1.45 Vodafone Group Plc 1,710,000 GBP 6,259,169.34 4,239,467.80 1.05 Volkswagen Ag /Vorzug. 40,000 EUR 6,775,989.25 5,334,000.00 1.32

210,787,197.67 225,747,565.92 55.96




Fondi d’Investimento Ubi Gl Infl Lkd -I-Cap** 300,000 EUR 1,500,000.00 1,480,500.00 0.37

1,500,000.00 1,480,500.00 0.37



Opzioni Call Treasury Bonds Usa 21/07/17 157 100 USD 83,100.05 19,176.82 0.01 Call Treasury Bonds Usa 21/07/17 160 100 USD 5,434.29 5,479.09 - Put Eur/Jpy Spot - Cross Rates 25/08/17 123 24,400,000 EUR 132,980.00 61,292.80 0.02 Put Eur/Usd Spot -Cross Rates 18/08/17 1 10,000,000 EUR 39,000.00 7,930.00 - Put Euro Bund 25/08/17 156 (200) EUR (23,114.40) (26,000.00) (0.01) Put Euro Bund 25/08/17 160 200 EUR 128,000.00 130,000.00 0.03

365,399.94 197,878.71 0.05





UBI SICAV






Comunicazioni 9.21 Germania 10.36

Retail 7.00 Francia 8.52

Banche e Istituzioni Finanziarie 5.87 Spagna 7.69

Farmaceutica e Cosmetica 4.69 Gran Bretagna 6.94

Petrolio 4.66 Svezia 4.11

Tabacco e alcolici 3.20 Paesi bassi 3.92

Meccanica e macchinari 2.82 Finlandia 3.83

Beni d’investimento 2.28 Portogallo 2.65

Cibo e bevande 2.27 Jersey 2.18

Industria Automobilistica 2.26 Irlanda 2.17

Varie 2.23 Svizzera 1.78

Intrattenimento 1.67 Belgio 1.40

Costruzioni e Materiali da Costruzione 1.63 Norvegia 0.99

Assicurazioni 1.54 Danimarca 0.76

Beni di consumo 0.87 Stati Uniti d’America 0.01

Edifici commerciali 0.78 Cassa e Altre Attività / (Passività) 2.79




Holding e Società Finanziarie 0.53 Chimica 0.50


100.00

100.00

174

UBI SICAV




netto


Obbligazioni A Schulman 6.875% 16-01.06.23 2,000,000 USD 1,888,967.72 1,854,124.66 0.23 Acadia Hlth 6.125% 14-15.03.21 250,000 USD 231,367.23 226,012.54 0.03 Adria Bidco 7.875% 13-15.11.20 3,200,000 EUR 3,380,500.00 3,326,399.90 0.42 Aegis M.S 10.25% 15-15.02.23 3,116,000 USD 3,285,539.41 3,032,138.16 0.38 Aes 7.375% 12-01.07.21 750,000 USD 772,664.84 752,827.21 0.09 Alcoa 5.72% 07-23.02.19 523,000 USD 486,656.79 477,673.63 0.06 Alize Finco Frn 14-01.12.21 250,000 EUR 248,750.00 252,325.00 0.03 Am Axle & M 5.125% 13-15.02.19 450,000 USD 424,606.46 398,017.45 0.05 Am Axle & M 7.75% 11-15.11.19 3,450,000 USD 3,311,279.15 3,322,307.36 0.42 Anixter 5.5% 16-01.03.23 253,000 USD 244,551.85 236,323.34 0.03 Anixter 5.625% 12-01.05.19 900,000 USD 847,355.77 830,411.15 0.10 Antero Resrc 5.375% 14-01.11.21 300,000 USD 284,983.44 265,626.37 0.03 Aramark Int 3.125% 17-01.04.25 2,200,000 EUR 2,307,750.00 2,288,043.98 0.29 Arcelormit 6.125% 08-01.06.18 3,515,000 USD 3,213,985.14 3,193,143.46 0.40 Ardagh Pck 4.25% 17-15.09.22 2,400,000 USD 2,270,577.11 2,159,726.53 0.27 Ardagh Pck 6% 14-30.06.21 3,150,000 USD 2,893,110.56 2,858,113.44 0.36 Argentina 6.875% 16-22.04.21 5,400,000 USD 5,099,896.84 5,065,310.78 0.63 Argos Mg 7.125% 15-15.03.23 4,150,000 USD 3,632,156.37 3,237,924.08 0.41 Ascent Reso 10% 17-01.04.22 144a 3,392,000 USD 3,158,627.11 2,973,612.69 0.37 Aston Mar 5.75% 17-15.04.22 Regs 900,000 GBP 1,051,893.90 1,073,636.47 0.13 Autodis Sa 4.375% 16-01.05.22 750,000 EUR 750,000.00 776,250.00 0.10 B&M Eur 4.125% 17-01.02.22 Regs 425,000 GBP 501,356.78 500,631.84 0.06 Beazer 5.75% 14-15.06.19 3,000,000 USD 2,645,249.94 2,756,517.82 0.34 Belden Inc 5.5% 13-15.04.23 /Sub 1,400,000 EUR 1,478,750.00 1,477,615.99 0.18 Bluescope S 6.5% 16-15.05.21 5,425,000 USD 5,014,183.68 5,017,423.51 0.63 Bmbg Bond 3% 16-15.06.21 3,000,000 EUR 3,027,500.00 3,086,090.94 0.39 Bmc Soft Fin 8.125% 13-15.07.21 2,904,000 USD 2,661,047.93 2,635,722.99 0.33 Bmc Software 7.25% 08-01.06.18 1,680,000 USD 1,498,338.06 1,524,135.71 0.19 Bombardier 8.75% 16-01.12.21 144a 3,475,000 USD 3,465,221.72 3,381,476.29 0.42 Boparan 4.375% 14-15.07.21 1,000,000 EUR 930,000.00 975,500.03 0.12 Boparan 5.25% 14-15.07.19 1,250,000 GBP 1,592,701.38 1,408,971.71 0.18 Braskem Fi 5.375% 12-02.05.22 500,000 USD 448,162.20 452,187.25 0.06 Braskem Fi 5.75% 11-15.04.21 2,225,000 USD 2,072,527.01 2,035,991.00 0.25 Brazil Rep 2.875% 14-01.04.21 1,400,000 EUR 1,350,300.00 1,441,160.03 0.18 Brk Res Pptys 6.125% 01.07.22 144a 1,250,000 USD 1,147,630.27 1,134,172.00 0.14 Brkfld Res Ppty 6.5% 12-15.12.20 1,400,000 USD 1,352,791.90 1,267,204.35 0.16 Cablevis Sys 8.625% 10-15.09.17 4,505,000 USD 4,199,330.80 4,000,275.71 0.50 Cablevision 6.5% 16-15.06.21 1,605,000 USD 1,469,219.14 1,491,452.62 0.19 Cablevision 6.5% 16-15.06.21 1,460,000 USD 1,390,590.37 1,353,050.23 0.17 Caesars Ent 8% 14-01.10.20 6,150,000 USD 5,944,816.35 5,553,169.11 0.69 Caixa Eco 4.5% 13-03.10.18 3,000,000 USD 2,577,838.03 2,669,413.52 0.33 Cascades 5.5% 14-15.07.22 2,743,000 USD 2,586,717.70 2,452,757.08 0.31 Ccm Merger 6% 17-15.03.22 144a 3,400,000 USD 3,220,611.92 3,055,469.45 0.38 Cco Hldgs 5.25% 12-30.09.22 8,700,000 USD 8,023,008.05 7,851,126.65 0.98 Cemex Fin 9.375% 12-12.10.22 5,960,000 USD 5,873,838.29 5,546,190.94 0.69 Cemex Fin 9.375% 12-12.10.22 3,450,000 USD 3,376,418.76 3,213,487.33 0.40 Centene 5.625% 16-15.02.21 2,200,000 USD 2,010,785.12 2,010,607.52 0.25 Centurylink 6.45% 11-15.06.21 3,200,000 USD 3,137,837.00 3,015,159.11 0.38 Cequel Comm 5.125% 13-15.12.21 3,105,000 USD 2,774,600.00 2,769,648.02 0.35 Cequel Comm 5.125% 14-15.12.21 7,430,000 USD 7,006,496.88 6,633,589.07 0.83 Cequel Comm 6.375% 12-15.09.20 9,188,000 USD 8,245,413.37 8,215,797.32 1.03 Cf Industries 7.125% 10-01.05.20 3,855,000 USD 3,883,185.12 3,734,351.71 0.47 Chemours 6.625% 15-15.05.23 3,715,000 USD 3,734,073.57 3,444,036.56 0.43 Chemtura 5.75% 13-15.07.21 Sr 2,685,000 USD 2,385,912.53 2,424,432.37 0.30 Chs /Communi 6.25% 17-31.03.23 2,725,000 USD 2,567,057.52 2,466,164.44 0.31 Chs Com Hlth 7.125% 12-15.07.20 5,875,000 USD 4,973,429.29 5,015,149.69 0.63 Chs Com Hlth 8% 15.11.19 1,975,000 USD 1,797,758.43 1,740,049.97 0.22 Churchill 5.375% 14-15.12.21 2,723,000 USD 2,485,598.69 2,476,648.11 0.31 Citgo 10.75% 15-15.02.20 1,250,000 USD 1,215,154.47 1,190,332.69 0.15 Claire S St 9% 12-15.03.19 500,000 USD 399,984.24 221,355.31 0.03


UBI SICAV




Clean Har 5.125% 01.06.21 1,200,000 USD 1,083,003.24 1,074,340.32 0.13 Clean Har 5.25% 12-01.08.20 1,000,000 USD 788,962.30 888,708.69 0.11 Clear Ch Wld 6.5% 13-15.11.22 2,465,000 USD 2,343,752.43 2,204,172.88 0.28 Clear Ch Wld 6.5% 15.11.22 -B- 1,685,000 USD 1,560,659.93 1,509,439.16 0.19 Clear Ch Wld 7.625% 12-15.03.20 1,650,000 USD 1,530,837.34 1,424,783.03 0.18 Cleavb 8.75% 12-15.12.19 144a 1,775,000 USD 1,514,789.05 1,604,689.01 0.20 Clr 20 Sr B 7.625% 15.03.20 1,660,000 USD 1,525,244.13 1,447,970.54 0.18 Coluif 7.375% 14-30.03.21 7,100,000 USD 6,876,479.93 6,605,483.48 0.83 Coluif 7.375% 14-30.03.21 600,000 USD 574,047.70 557,725.96 0.07 Commscope 5% 14-15.06.21 3,735,000 USD 3,550,998.87 3,347,977.12 0.42 Consol En 5.875% 14-15.04.22 3,550,000 USD 3,231,552.45 3,057,661.96 0.38 Consol En 8% 15-01.04.23 1,595,000 USD 1,519,906.67 1,468,177.43 0.18 Constellm 7.875% 16-01.04.21 144a 2,802,000 USD 2,744,422.74 2,628,333.48 0.33 Contourglob 5.125% 16-15.06.21 2,750,000 EUR 2,754,562.50 2,893,550.03 0.36 Coveris Hldg 7.875% 14-01.11.19 6,945,000 USD 6,408,263.35 5,997,041.29 0.75 Cpuk Fin 4.25% 17-28.08.22 3,050,000 GBP 3,504,135.85 3,492,063.81 0.44 Crescent Co 8.875% 16-15.10.21 2,225,000 USD 2,113,399.27 2,048,084.51 0.26 Csc Hldg 7.625% 98-15.07.18 2,443,000 USD 2,547,134.51 2,258,730.94 0.28 Dakar Finan 9% 15.11.20 /Pik 621,339 EUR 633,765.78 631,528.96 0.08 Dft 5.875% 13-15.09.21 42,000 USD 39,526.88 38,016.50 - Digicel 6% 13-15.04.21 500,000 USD 399,676.67 420,794.25 0.05 Digicel 6% 15.04.21 144a 2,000,000 USD 1,588,592.88 1,677,741.74 0.21 Digicel Grp 8.25% 12-30.09.20 500,000 USD 382,710.49 409,792.22 0.05 Digicel Grp 8.25% 12-30.09.20 500,000 USD 407,777.78 409,415.27 0.05 Dish Dbs 4.25% 13-01.04.18 Wi 2,000,000 USD 1,841,962.71 1,775,786.76 0.22 Dish Dbs 5.125% 13-01.05.20 8,510,000 USD 7,899,553.57 7,786,720.87 0.97 Dmn1 5.875% 16-15.06.21 9,150,000 USD 8,344,840.14 8,402,406.42 1.05 Dolphin Sub 7.25% 12-15.10.21 3,400,000 USD 3,380,328.57 3,189,269.75 0.40 Dpl Inc 6.75% 15-01.10.19 4,165,000 USD 3,874,075.38 3,809,366.62 0.48 Drax Finc 4.25% 17-01.05.22 Regs 1,025,000 GBP 1,225,051.30 1,192,701.64 0.15 Dynegy 6.75% 15-01.11.19 3,475,000 USD 3,073,132.15 3,141,574.25 0.39 Dynegy 7.375% 15-01.11.22 8,650,000 USD 7,983,939.18 7,488,274.74 0.94 Eer Fin 7% 13-15.08.21 1,425,000 USD 1,363,034.64 1,292,956.08 0.16 Eer Fin 8.125% 15-15.09.23 1,380,000 USD 1,348,896.04 1,277,833.79 0.16 Egypt 6.125% 17-31.01.22 Regs 1,390,000 USD 1,292,301.97 1,244,505.13 0.16 Eircom Fina 4.5% 16-31.05.22 2,525,000 EUR 2,543,000.00 2,638,698.20 0.33 Eldorado Gold 6.125% 15.12.20 815,000 USD 732,751.96 731,442.32 0.09 Emc 2.65% 13-01.06.20 3,125,000 USD 2,696,010.08 2,688,124.64 0.34 Endo Financ 5.375% 14-15.01.23 2,225,000 USD 1,783,922.54 1,628,714.82 0.20 Eskom Hldgs 5.75% 11-26.01.21 1,000,000 USD 962,620.35 884,982.91 0.11 Eurochem 3.8% 16-12.04.20 1,500,000 USD 1,339,166.14 1,316,954.50 0.16 Evraz Group 6.5% 13-22.04.20 Regs 1,000,000 USD 910,095.73 927,325.33 0.12 Exp Cred Bk 5% 14-23.09.21 2,000,000 USD 1,884,944.92 1,777,680.37 0.22 Faenza 8.25% 13-15.08.21 Regs 2,250,000 EUR 2,474,940.16 2,361,014.96 0.30 Fbm Fin 8.25% 16-15.08.21 850,000 USD 757,238.31 798,248.88 0.10 Fed Mogul 4.875% 17-15.04.22 Regs 1,625,000 EUR 1,625,000.00 1,633,125.00 0.20 Ferrellgas 8.625% 10-15.06.20 650,000 USD 585,092.23 533,425.09 0.07 Fiat Ft 4.75% 14-22.03.21 500,000 EUR 544,595.00 550,999.99 0.07 Fiat Ft 6.625% 13-15.03.18 700,000 EUR 759,750.00 729,330.00 0.09 Fiat Invest 4.5% 15-15.04.20 325,000 USD 304,335.61 291,679.45 0.04 First Data 7% 15-01.12.23 7,140,000 USD 6,824,919.11 6,681,818.18 0.84 First Quant 7% 14-15.02.21 144a 2,295,000 USD 2,146,743.30 2,062,220.57 0.26 Fmg Res 4.75% 17-15.05.22 144a 1,225,000 USD 1,124,678.66 1,077,929.12 0.13 Fmg Res 9.75% 15-01.03.22 8,030,000 USD 8,698,509.70 8,031,407.91 1.00 Freeport Mc 2.3% 14-14.11.17 4,440,000 USD 3,867,207.66 3,882,615.94 0.49 Freeport Mc 2.375% 13-15.03.18 9,805,000 USD 9,109,558.87 8,546,604.28 1.07 Ftr 6.25% 14-15.09.21 2,080,000 USD 1,855,628.19 1,627,421.76 0.20 Ftr 8.5% 10-15.04.20 800,000 USD 804,619.46 734,896.12 0.09 Ftr 9.25% 12-01.07.21 1,530,000 USD 1,524,995.75 1,315,783.89 0.16 Galapagos S 5.375% 14-15.06.21 900,000 EUR 909,000.00 910,260.00 0.11 Galapagos S Frn 14-15.06.21 252,000 EUR 246,015.00 249,354.00 0.03 Gaz Cap 4.95% 12-19.07.22 750,000 USD 675,303.80 681,423.69 0.09 Gaz Cap 4.95% 12-19.07.22 2,515,000 USD 2,264,518.76 2,283,056.46 0.29


UBI SICAV




Gaz Cap 5.338% 13-25.09.20 1,000,000 GBP 1,288,167.84 1,224,626.95 0.15 Gaz Cap 5.999% 11-23.01.21 Regs 750,000 USD 706,745.21 709,301.31 0.09 Gaz Capital 6.51% 07-07.03.22 2,870,000 USD 2,711,231.17 2,777,662.84 0.35 Gci 4.875% 14-15.09.21 215,000 USD 198,640.27 193,663.98 0.02 Gci 5.125% 13-15.10.19 200,000 USD 151,594.55 178,888.40 0.02 Genon En 9.5% 11-15.10.18 2,825,000 USD 2,433,834.60 1,473,546.94 0.18 Genon En 9.875% 11-15.10.20 1,625,000 USD 993,678.85 847,615.50 0.11 Gfb 6.75% 12-30.09.22 2,000,000 USD 1,971,681.42 1,983,343.56 0.25 Glp Cap 4.375% 16-15.04.21 1,025,000 USD 903,087.92 941,819.28 0.12 Glp Cap 4.875% 14-01.11.20 3,375,000 USD 3,091,773.20 3,154,724.07 0.39 Gold Nug 8.5% 13-01.12.21 3,650,000 USD 3,399,932.79 3,391,776.98 0.42 Grainger 5% 13-16.12.20 2,780,000 GBP 3,802,298.05 3,480,143.05 0.44 Greif 7.75% 09-01.08.19 2,930,000 USD 2,969,891.54 2,812,615.06 0.35 Greif Lux 7.375% 11-15.07.21 1,000,000 EUR 1,157,500.00 1,210,500.00 0.15 Hca 8% 11-01.10.18 4,725,000 USD 4,698,687.72 4,452,857.89 0.56 Heathrow Fl 5.375% 12-02.09.19 1,455,000 GBP 2,126,127.05 1,796,637.34 0.22 Heid. C Lux 3.25% 13-21.10.20 200,000 EUR 210,648.00 218,620.00 0.03 Homevi 6.875% 14-15.08.21 2,230,000 EUR 2,388,887.50 2,316,078.00 0.29 Horizon 5.125% 15-01.08.22 2,000,000 EUR 2,052,500.00 2,108,999.94 0.26 Hot Topic 9.25% 15.06.21 144a 1,550,000 USD 1,485,859.13 1,304,462.17 0.16 In Justitia 2.75% 17-15.07.22 2,375,000 EUR 2,375,000.00 2,386,637.50 0.30 Infor (Us) 5.75% 15-15.08.20 5,275,000 USD 4,840,372.88 4,774,644.95 0.60 Inter Game 4.125% 15.02.20 Regs 2,000,000 EUR 2,017,500.00 2,134,000.00 0.27 Interxion Reg-S 6% 13-15.07.20 2,700,000 EUR 2,879,489.13 2,788,128.00 0.35 Intl Game 6.25% 15-15.02.22 1,625,000 USD 1,643,260.28 1,556,336.02 0.19 Intl Wire 10.75% 16-01.08.21 1,525,000 USD 1,326,541.29 1,222,593.58 0.15 Irsa Prop 8.75% 16-23.03.23 1,150,000 USD 1,070,626.00 1,136,692.38 0.14 Jabil Cir 8.25% 08-15.03.18 1,000,000 USD 928,634.40 911,791.01 0.11 Jacobs 7.875% 17-01.02.24 144a 450,000 USD 420,285.79 428,026.65 0.05 Jag Ld Rov 3.5% 15-15.03.20 250,000 USD 223,493.65 221,903.22 0.03 Jag Ld Rov 4.25% 14-15.11.19 425,000 USD 333,385.63 381,892.70 0.05 Jag Ld Rov 5% 14-15.02.22 2,500,000 GBP 3,075,141.95 3,156,665.92 0.40 Jaguar 6.375% 15-01.08.23 144a 6,175,000 USD 6,152,065.12 5,704,309.85 0.71 Jbs Invts 7.75% 13-28.10.20 1,500,000 USD 1,411,262.68 1,240,948.54 0.16 Jbs Invts 7.75% 13-28.10.20 4,400,000 USD 4,375,065.20 3,654,002.04 0.46 Jbs Usa 7.25% 11-01.06.21 2,250,000 USD 2,102,262.57 1,971,486.75 0.25 Jbs Usa 7.25% 13-01.06.21 1,400,000 USD 1,251,169.82 1,226,702.87 0.15 Jbs Usa 8.25% 12-01.02.20 500,000 USD 424,704.29 438,173.93 0.05 Jerrold Fin 6.25% 16-15.09.21 2,450,000 GBP 2,830,732.45 2,893,527.01 0.36 Kb Home 7% 13-15.12.21 1,025,000 USD 997,897.26 1,006,399.58 0.13 Kb Home 7.25% 06-15.06.18 2,000,000 USD 1,945,877.46 1,827,825.02 0.23 Kb Home 7.5% 12-15.09.22 575,000 USD 580,162.92 569,051.90 0.07 Kb Home 8% 12-15.03.20 1,000,000 USD 1,040,207.34 984,614.71 0.12 Kcg Hldgs 6.875% 15-15.03.20 500,000 USD 462,050.61 454,789.60 0.06 Kelda Finance 5.75% 13-17.02.20 2,365,000 GBP 3,392,561.88 2,958,848.19 0.37 Kerling 6.25% 16-15.05.21 480,000 EUR 494,400.00 501,408.00 0.06 Kerneos T.Gr. 5.75% 01.03.21 2,000,000 EUR 2,130,000.00 2,055,800.00 0.26 Kindred Hlt 8% 15-15.01.20 2,375,000 USD 2,004,353.06 2,186,157.62 0.27 Kindred Hlt 8.75% 15-15.01.23 825,000 USD 771,801.51 760,306.17 0.10 Kinross 5.125% 12-01.09.21 1,410,000 USD 1,311,805.62 1,308,863.68 0.16 Kirk Beauty 8.75% 15-15.07.23 500,000 EUR 555,000.00 545,180.02 0.07 Lebanon 5.45% 11-28.11.19 880,000 USD 776,355.56 773,687.17 0.10 Lebanon 6% 11-20.05.19 500,000 USD 481,769.59 443,560.97 0.06 Lebanon 6.1% 10-04.10.22 S.1 2,000,000 USD 1,761,317.97 1,753,835.35 0.22 Lebanon 6.375% 10-09.03.20 2,000,000 USD 1,916,588.57 1,788,375.56 0.22 Lennar 4.5% 14-15.11.19 475,000 USD 421,181.23 432,026.39 0.05 Lennar 4.75% 13-15.11.22 600,000 USD 581,175.58 558,720.08 0.07 Level 3 Fin 6.125% 14-15.01.21 4,175,000 USD 3,900,811.44 3,774,409.35 0.47 Lifepoint 5.5% 14-01.12.21 1,675,000 USD 1,551,911.55 1,519,790.48 0.19 Limited Brands 8.5% 09-15.06.19 3,650,000 USD 3,405,276.95 3,554,294.29 0.44 Loxam 3.5% 17-15.04.22 Regs 1,275,000 EUR 1,275,000.00 1,322,812.50 0.17 Lundin Min 7.5% 14-01.11.20 6,135,000 USD 5,677,469.91 5,653,644.25 0.71 M I Homes 6.75%15-15.01.21 2,200,000 USD 2,092,727.61 2,020,250.72 0.25


UBI SICAV




Mallin 4.875% 15-15.04.20 4,246,000 USD 3,839,043.80 3,624,566.06 0.45 Mallin 5.75% 14-01.08.22 1,000,000 USD 866,358.63 824,055.40 0.10 Manutencoop 8.5% 01.08.20 /Regs 1,375,000 EUR 1,433,437.50 1,406,625.04 0.18 Mariposa Borrow 8% 13-15.10.21 1,798,000 USD 1,248,295.02 870,864.38 0.11 Mattamy 6.875% 16-15.12.23 144a 675,000 USD 636,012.44 604,316.43 0.08 Mediacom Br 5.5% 14-15.04.21 4,010,000 USD 3,698,811.27 3,594,481.46 0.45 Mediacom Br 6.375% 13-01.04.23 3,055,000 USD 2,936,689.11 2,798,403.52 0.35 Meg Ener 6.375% 12-30.01.23 144a 1,800,000 USD 1,299,143.93 1,218,988.34 0.15 Meif Rene 6.75% 15-01.02.20 1,448,000 GBP 1,797,347.77 1,696,482.73 0.21 Mens Wear 7% 15-01.07.22 1,925,000 USD 1,571,444.07 1,476,615.24 0.18 Mercer Intl 7.75% 14-01.12.22 2,275,000 USD 2,269,557.91 2,136,489.66 0.27 Mgm Resorts 6.75% 13-01.10.20 1,000,000 USD 944,317.47 971,245.74 0.12 Mgm Resorts 8.625% 12-01.02.19 6,915,000 USD 6,543,888.39 6,650,815.11 0.83 Midcontinent 6.25% 01.08.21 144a 5,517,000 USD 5,313,479.33 4,996,108.68 0.63 Millicom Ic 6.625% 13-15.10.21 694,000 USD 626,497.92 628,171.30 0.08 Millicom Ic 6.625% 13-15.10.21 500,000 USD 472,891.30 455,860.44 0.06 Nai Entert 5% 13-01.08.18 144a 1,400,000 USD 1,339,998.27 1,227,316.56 0.15 Navient 5% 14-26.10.20 150,000 USD 119,371.70 136,429.39 0.02 Navient 6.5% 17-15.06.22 5,715,000 USD 5,398,381.36 5,310,686.42 0.66 Navient 6.625% 16-26.07.21 525,000 USD 477,880.94 495,337.29 0.06 Naviera Arm Frn 16-31.07.23 1,500,000 EUR 1,567,500.00 1,604,700.00 0.20 Nbty Inc 7.625% 16-15.05.21 875,000 USD 774,953.50 815,014.90 0.10 Ncr Corp 5.875% 14-15.12.21 1,695,000 USD 1,647,772.34 1,545,366.88 0.19 Ncr Corp 6.375% 14-15.12.23 4,050,000 USD 4,097,813.03 3,812,297.27 0.48 Ncx 4.875% 17-01.06.24 4,850,000 USD 4,330,793.10 4,235,831.07 0.53 New Gold 6.25% 12-15.11.22 144a 2,750,000 USD 2,558,640.63 2,477,097.40 0.31 New Home Co 7.25% 17-01.04.22 1,775,000 USD 1,663,119.72 1,610,524.24 0.20 Nexstar 6.125% 15.02.22 1,365,000 USD 1,264,769.24 1,251,977.95 0.16 Ngl Energy 7.5% 16-01.11.23 1,000,000 USD 911,660.13 864,600.68 0.11 Niel Fin 5% 14-15.04.22 144a 1,550,000 USD 1,494,033.05 1,409,770.32 0.18 Noble Hldg 7.75% 16-15.01.24 900,000 USD 827,942.56 624,287.72 0.08 Nrg Energy 6.25% 14-15.07.22 2,000,000 USD 1,837,223.75 1,799,333.74 0.23 Nrg Energy 6.625% 13-15.03.23 1,800,000 USD 1,704,927.21 1,618,295.78 0.20 Nrg Energy 7.625% 11-15.01.18 5,400,000 USD 5,092,007.67 4,875,953.36 0.61 Nrg Energy 7.875% 11-15.05.21 644,000 USD 585,986.62 581,423.55 0.07 Nuance Com 5.375% 12-15.08.20 4,415,000 USD 4,155,191.93 3,933,324.93 0.49 Numericable Gp 6% 15.05.22 3,225,000 USD 2,933,676.52 2,957,969.89 0.37 Nuovo Trasp Frn 17-01.06.23 1,300,000 EUR 1,300,000.00 1,317,160.00 0.16 Nxp 3.75% 13-01.06.18 144a 3,922,000 USD 3,018,570.50 3,498,924.61 0.44 Nxp 3.875% 16-01.09.22 3,225,000 USD 2,906,158.36 2,943,833.83 0.37 Nxp 4.125% 16-01.06.21 4,190,000 USD 3,765,814.29 3,867,861.95 0.48 Onemain Fin 6.75% 14-15.12.19 2,250,000 USD 1,980,764.66 2,071,096.70 0.26 Orchestr 6.75% 17-15.06.22 144a 450,000 USD 399,683.91 406,487.24 0.05 Paperworks 9.5% 14-15.08.19 2,175,000 USD 1,711,264.88 1,410,975.72 0.18 Peabody Sec 6% 17-31.03.22 144a 1,260,000 USD 1,190,983.16 1,096,300.52 0.14 Petbra 5.375% 11-27.01.21 1,500,000 USD 1,436,591.51 1,336,942.20 0.17 Petrobras 6.125% 17-17.01.22 1,000,000 USD 964,670.16 904,269.33 0.11 Petrobras 8.375% 16-23.05.21 10,545,000 USD 10,064,186.67 10,347,911.39 1.29 Plastipak 6.5% 13-01.10.21 4,946,000 USD 4,528,814.35 4,476,851.93 0.56 Platf Spec 6.5% 15-01.02.22 144a 750,000 USD 701,797.16 678,859.47 0.08 Prov Buenos 9.95% 09.06.21 /Pool 2,000,000 USD 1,967,531.32 2,006,136.58 0.25 Pultegroup 4.25% 16-01.03.21 1,925,000 USD 1,813,558.16 1,759,281.58 0.22 Rain Cii Ca 8.25% 15.01.21 144a 5,533,000 USD 5,316,547.09 5,056,677.92 0.63 Range Resou 5.875% 16-01.07.22 1,375,000 USD 1,315,722.26 1,223,481.20 0.15 Realogy Gr 5.25% 14-01.12.21 1,025,000 USD 931,269.26 941,702.46 0.12 Reliant Egy 9.237% 01-02.07.17 85,732 USD 79,191.20 74,405.44 0.01 Rep Dominican 7.5% 06.05.21 /Pool 1,420,000 USD 1,394,676.44 1,369,658.28 0.17 Reynolds 5.75% 12-15.10.20 2,050,000 USD 1,945,997.09 1,839,087.40 0.23 Rhp 5% 15-15.04.23 1,750,000 USD 1,665,194.52 1,568,663.98 0.20 Rialto Hldg 7% 13-01.12.18 144a 400,000 USD 383,167.39 355,921.80 0.04 Rite Aid 6.125% 15-01.04.23 3,175,000 USD 3,132,498.63 2,732,915.86 0.34 Rite Aid 9.25% 12-15.03.20 1,325,000 USD 1,284,502.16 1,200,770.36 0.15 Rocfin 6.75% 16-15.11.21 144a 3,100,000 USD 2,948,499.39 2,839,922.85 0.36


UBI SICAV




Rockies Exp 5.625% 10-15.04.20 250,000 USD 235,532.78 232,861.40 0.03 Rockies Exp 6% 13-15.01.19 144a 1,295,000 USD 1,224,662.41 1,183,516.70 0.15 Rockies Exp 6.85% 08-15.07.18 5,350,000 USD 5,005,514.88 4,883,569.30 0.61 Rri Energy 7.875% 07-15.06.17 1,000,000 USD 848,854.83 525,992.81 0.07 Rsp Permian 6.625% 15-01.10.22 1,050,000 USD 1,051,187.22 949,906.20 0.12 Ruby Tuesday 7.625% 12-15.05.20 3,450,000 USD 3,121,584.68 2,874,778.21 0.36 Ryland Grp 6.625% 10-01.05.20 200,000 USD 194,810.98 193,393.53 0.02 Sb Capital 5.717% 11-16.06.21 1,750,000 USD 1,676,933.07 1,651,507.88 0.21 Sba Comm 4.875% 15-15.07.22 500,000 USD 461,583.60 451,735.78 0.06 Schaef 2.75% 16-15.09.21 /Pik 2,550,000 EUR 2,550,000.00 2,594,523.05 0.32 Sci Games 10% 14-01.12.22 500,000 USD 500,188.31 480,516.35 0.06 Sci Games 6.625% 15-15.05.21 3,175,000 USD 2,798,817.70 2,769,461.73 0.35 Sci Games 7% 14-01.01.22 1,200,000 USD 1,182,156.13 1,120,364.69 0.14 Sealed Air 6.5% 12-01.12.20 805,000 USD 847,867.58 786,863.33 0.10 Select Med 6.375% 13-01.06.21 2,800,000 USD 2,611,057.42 2,522,135.53 0.32 Sesi Llc 6.375% 11-01.05.19 300,000 USD 257,854.58 259,464.36 0.03 Sheares Chip 9% 12-01.11.19 144a 2,725,000 USD 2,656,441.13 2,493,397.69 0.31 Signode Ind 6.375% 14-01.05.22 975,000 USD 926,281.17 893,201.54 0.11 Silk Bidco 7.5% 15-01.02.22 2,750,000 EUR 2,876,625.00 2,928,750.00 0.37 Sinclair 6.125% 13-01.10.22 285,000 USD 272,751.90 259,825.46 0.03 Sinclair Tel 5.375% 13-01.04.21 2,955,000 USD 2,737,527.15 2,661,753.75 0.33 Siwf Mrg Sub 6.25% 01.06.21 2,200,000 USD 2,059,630.18 1,993,731.92 0.25 Snc /Snc Fin 6.25% 16-15.04.21 3,600,000 USD 3,163,074.22 3,297,974.93 0.41 Snoco 5.5% 16-01.08.20 700,000 USD 638,802.70 628,999.74 0.08 Sprint Cap. 6.9% 99-01.05.19 1,200,000 USD 1,001,518.65 1,122,942.09 0.14 Sprint Nex 7% 01.03.20 144a 07.00 5,405,000 USD 5,435,964.21 5,201,820.80 0.65 Sprint Nex 9% 11-15.11.18 144a 7,780,000 USD 7,520,414.49 7,402,219.37 0.93 Standard In 5.125% 16-15.02.21 600,000 USD 540,491.85 546,375.03 0.07 Standard Pac 8.375% 10-15.05.18 4,300,000 USD 4,217,849.05 3,962,807.93 0.50 Station 7.5% 13-01.03.21 1,699,000 USD 1,657,852.80 1,549,013.76 0.19 Std Pac 8.375% 10-15.01.21 115,000 USD 117,838.48 119,214.08 0.01 Steel Dyn 6.375% 13-15.08.22 1,709,000 USD 1,623,347.26 1,552,512.71 0.19 Stonegate 4.875% 17-15.03.22 Regs 3,050,000 GBP 3,583,568.92 3,540,034.51 0.44 Stonegate Frn 17-15.03.22 Regs 650,000 GBP 758,194.45 743,988.30 0.09 Stretford 6.75% 14-15.07.24 1,000,000 GBP 1,290,872.92 1,245,187.14 0.16 Summit Mat 8.5% 16-15.04.22 1,250,000 USD 1,133,786.85 1,238,274.74 0.16 Surgery 8.875% 16-15.04.21 1,650,000 USD 1,569,928.65 1,567,622.95 0.20 Svu 6.75% 13-01.06.21 1,700,000 USD 1,314,911.80 1,460,506.71 0.18 Svu 7.75% 14-15.11.22 1,500,000 USD 1,381,684.44 1,278,820.02 0.16 T-Mobile 6.625% 14-01.04.23 2,555,000 USD 2,540,075.93 2,370,212.15 0.30 T-Mobile Us 6% 14-01.03.23 1,305,000 USD 1,300,238.56 1,210,880.32 0.15 Talk Talk 5.375% 17-15.01.22 1,725,000 GBP 1,978,781.26 2,027,851.86 0.25 Taymor /Mon 5.25% 13-15.04.21 1,525,000 USD 1,337,743.98 1,370,320.86 0.17 Teck Res 4.75% 11-15.01.22 830,000 USD 798,971.96 753,090.21 0.09 Telecom Italia 6.375% 04-24.06.19 2,450,000 GBP 3,656,400.46 3,045,414.16 0.38 Tenedora Ne 5.5% 13-28.02.23 500,000 USD 465,981.65 452,866.66 0.06 Tenedora Ne 5.5% 28.02.23 144a 1,387,000 USD 1,346,858.50 1,249,357.85 0.16 Tenet Hlthc 4.375% 13-01.10.21 75,000 USD 69,180.26 66,735.34 0.01 Tenet Hlthc 4.625% 17-15.07.24 1,825,000 USD 1,621,645.64 1,587,143.64 0.20 Tenet Hlthc 4.75% 12-01.06.20 1,900,000 USD 1,745,150.18 1,723,941.44 0.22 Tenet Hlthc 6% 13-01.10.20 500,000 USD 490,504.85 470,632.07 0.06 Tenet Hlthc 6.25% 11-01.11.18 2,426,000 USD 2,270,229.77 2,243,736.30 0.28 Tenet Hlthc 6.75% 15-15.06.23 2,250,000 USD 2,004,397.83 1,972,473.04 0.25 Tenet Hlthc 8% 10-01.08.20 1,496,000 USD 1,393,089.47 1,327,868.85 0.17 Thc Esc III 4.625% 17-15.07.24 2,250,000 USD 1,999,289.14 1,966,535.90 0.25 Titan Gbl 3.5% 16-17.06.21 2,000,000 EUR 2,000,000.00 2,119,620.06 0.27 Titan Gbl 4.25% 14-10.07.19 1,600,000 EUR 1,562,125.00 1,688,608.03 0.21 Tri Pointe 4.875% 16-01.07.21 2,275,000 USD 2,019,633.74 2,099,094.85 0.26 Tribune 5.875% 16-15.07.22 4,355,000 USD 4,137,389.24 3,999,178.14 0.50 Trionista Hd 6.875% 30.04.21 Regs 1,992,000 EUR 2,152,620.00 2,068,492.72 0.26 Tronox Fin 6.375% 12-15.08.20 3,730,000 USD 3,455,011.18 3,278,096.78 0.41 Turkey 5.125% 11-25.03.22 1,500,000 USD 1,407,463.62 1,364,767.29 0.17 Turkey 5.625% 10-30.03.21 1,000,000 USD 977,227.82 929,253.97 0.12


UBI SICAV




Turkey 6.25% 12-26.09.22 2,520,000 USD 2,521,484.66 2,400,130.38 0.30 Turkiy Is B 5% 14-30.04.20 1,875,000 USD 1,748,618.00 1,654,083.02 0.21 Turkiy Is B 5% 14-30.04.20 600,000 USD 471,163.64 529,411.77 0.07 Turkiy Is B 5.375% 16-06.10.21 875,000 USD 810,053.52 769,374.07 0.10 Turkiy Is B 5.375% 16-06.10.21 1,000,000 USD 903,978.85 879,459.98 0.11 Turkiye Gar 5.25% 12-13.09.22 1,000,000 USD 941,788.93 888,840.19 0.11 Uhs 4.75% 14-01.08.22 1,275,000 USD 1,154,850.08 1,155,458.27 0.14 Univision C 6.75% 12-15.09.22 11,103,000 USD 10,662,679.77 10,122,836.85 1.27 Us West Cap 6.5% 15.11.18 2,000,000 USD 2,023,014.11 1,833,663.54 0.23 Valeant 6.5% 17-15.03.22 144a 850,000 USD 803,250.80 781,482.86 0.10 Veb Fin 6.902% 10-09.07.20 Reg- S 2,000,000 USD 1,947,935.37 1,904,093.98 0.24 Veb Finance 6.025% 12-05.07.22 750,000 USD 712,798.70 704,567.37 0.09 Viridian Fd 7.5% 15-01.03.20 1,250,000 EUR 1,286,875.00 1,305,725.00 0.16 Voyage 5.875% 01.05.23 Regs 1,875,000 GBP 2,240,947.50 2,228,070.94 0.28 Vpii Escrow 7.5% 13-15.07.21 144a 6,350,000 USD 5,128,066.10 5,392,796.09 0.67 Vtr Fin 6.875% 14-15.01.24 1,500,000 USD 1,473,796.36 1,393,880.95 0.17 Vwr Funding 4.625% 15-15.04.22 3,800,000 EUR 3,972,875.00 3,942,971.12 0.49 Wagamama 4.125% 17-01.07.22 1,925,000 GBP 2,191,235.20 2,183,405.19 0.27 Western Dig 10.5% 16-01.04.24 3,000,000 USD 3,323,486.00 3,102,516.05 0.39 Western Dig 7.375% 16-01.04.23 2,605,000 USD 2,684,177.10 2,509,199.40 0.31 William H 4.25% 13-05.06.20 2,400,000 GBP 3,199,289.54 2,854,832.81 0.36 Wind Acq 4% 14-15.07.20 1,400,000 EUR 1,401,750.00 1,414,700.04 0.18 Wind Acq 4.75% 14-15.07.20 2,000,000 USD 1,805,914.31 1,772,069.78 0.22 Wind Acq 6.5% 13-30.04.20 144a 1,900,000 USD 1,795,173.55 1,723,941.44 0.22 Wind Acq 7.375% 14-23.04.21 6,285,000 USD 6,047,064.45 5,730,165.69 0.72 Wlh Acq 5.75% 14-15.04.19 1,000,000 USD 933,848.56 887,612.87 0.11 Wlh Acq 7% 14-15.08.22 1,450,000 USD 1,416,705.72 1,315,639.52 0.16 Wokacq /Pfchangs 10.25% 30.06.20 1,100,000 USD 1,034,368.14 983,606.56 0.12 Wpx Energy 7.5% 15-01.08.20 2,050,000 USD 1,927,602.37 1,886,999.21 0.24 Wr Grace & 5.125% 14-01.10.21 2,305,000 USD 2,084,784.37 2,167,189.01 0.27 Wynn Macau 5.25% 13-15.10.21 3,100,000 USD 2,986,933.09 2,785,570.26 0.35 Xpo 6.125% 16-01.09.23 700,000 USD 689,614.44 638,971.68 0.08 Xpo 6.5% 15-15.06.22 144a 1,275,000 USD 1,261,278.81 1,173,621.46 0.15 Ypfdar 8.5% 16-23.03.21 1,500,000 USD 1,569,848.82 1,466,204.96 0.18 Ypfdar 8.5% 16-23.03.21 144a 1,500,000 USD 1,509,245.83 1,462,641.31 0.18 Ypfdar 8.875% 13-19.12.18 950,000 USD 891,673.03 893,534.67 0.11 Ypfdar 8.875% 13-19.12.18 4,250,000 USD 3,895,869.84 3,991,803.24 0.50 Yum Brands 3.875% 10-01.11.20 1,300,000 USD 1,169,864.39 1,175,265.19 0.15 Zebra Tech 7.25% 15-15.10.22 5,660,000 USD 5,559,237.48 5,271,982.12 0.66 Zodiak Medi 4% 17-01.07.22 375,000 EUR 375,000.00 380,662.50 0.05

766,173,229.00 742,756,068.30 92.91




Obbligazioni A VHomes 6.625% 15.05.22 144a 750,000 USD 685,119.21 678,037.61 0.09 Felcor Lodg 6% 15-01.06.25 3,000,000 USD 2,858,983.47 2,807,486.63 0.35 Freeport Mc 6.5% 17-15.11.20 3,050,000 USD 2,951,982.71 2,743,983.96 0.34 Freeport Mc 6.625% 17-01.05.21 1,420,000 USD 1,334,335.65 1,268,140.79 0.16 Hexion 10.375% 17-01.02.22 144a 1,680,000 USD 1,563,808.99 1,458,052.07 0.18 Limited Brands 7% 10-01.05.20 500,000 USD 495,933.68 482,707.99 0.06 Mattamy 6.5% 15.11.20 144a 2,000,000 USD 1,900,948.17 1,788,375.56 0.22 Micron Tech 7.5% 16-15.09.23 3,440,000 USD 3,570,751.01 3,371,543.88 0.42 Taymor 5.875% 15-15.04.23 144a 1,605,000 USD 1,555,868.96 1,502,005.35 0.19


180

UBI SICAV




Xplornet 9.625% 01.06.22 /Pik 1,805,000 USD 1,642,442.07 1,645,656.18 0.21 18,560,173.92 17,745,990.02 2.22




UBI SICAV





Comunicazioni 9.99 Lussemburgo 6.14

Servizi Pubblici 6.18 Gran Bretagna 5.41

Varie 5.94 Paesi bassi 4.17

Educazione Sanitaria e Servizi Sociali 4.70 Canada 3.94

Petrolio 3.83 Argentina 2.35

Intrattenimento 3.56 Australia 1.76

Software e Servizi Internet 3.46 Francia 1.50

Costruzioni e Materiali da Costruzione 2.87 Irlanda 1.45

Metalli Preziosi 2.86 Turchia 1.41

Stati, Province e Municipalità 2.58 Germania 0.95

Banche e Istituzioni Finanziarie 2.55 Barbados 0.90

Semiconduttori elettronici 2.48 Isole Cayman 0.90

Miniere e industrie pesanti 2.33 Italia 0.72

Chimica 2.23 Austria 0.62

Arti grafiche e editoria 1.88 Libano 0.60

Altri servizi 1.86 Jersey 0.57

Computer e materiale d’ufficio 1.84 Brasile 0.51

Imballaggio e Container 1.75 Messico 0.47

Retail 1.66 Norvegia 0.37

Industria Automobilistica 1.05 Bermuda 0.36

Elettronica e apparecchiature elettriche 1.04 Svezia 0.30

Società Immobiliari 1.03 Spagna 0.20

Meccanica e macchinari 0.62 Repubblica Dominicana 0.17

Industrie cartarie e prodotti forestali 0.58 Egitto 0.16

Cibo e bevande 0.46 Sudafrica 0.11

Trasporti 0.39 Cassa e Altre Attività / (Passività) 4.87


Servizi per l’Ambiente e Riciclaggio 0.24



Tessile 0.13




100.00

100.00

182

UBI SICAV




netto


Obbligazioni Italy 3.75% 13-01.05.21 /Btp* 21,500,000 EUR 24,931,947.99 24,158,754.93 2.65 Usa 2.375% 10-31.07.17 Tbo 14,000,000 USD 13,208,473.63 12,288,027.67 1.35

38,140,421.62 36,446,782.60 4.00

Fondi d’Investimento A G7-10 UcEtf -C- Eur 18,200 EUR 4,706,159.64 4,551,638.00 0.50 A Gr 3-5 Us Etf - Parts C 31,400 EUR 6,331,307.60 6,274,662.00 0.69 Ag 10-15 U Etf -C- Eur 40,500 EUR 11,691,256.50 10,915,965.00 1.20 Am Etf Pac Jap Fcp 5,458 EUR 2,446,039.56 2,622,623.58 0.29 Amundi Etf Msci Em Mk -A- 5,194,410 EUR 17,935,427.14 19,692,008.31 2.16 Amundi Etf St600 Ucits -Eur- /Dis 345,725 EUR 24,204,181.21 26,707,256.25 2.93 Amundi Gr 1-3 Uc Etf 27,100 EUR 4,610,208.64 4,587,759.00 0.50 Amundi Gr 5-7 Uc Etf -C Eur 19,800 EUR 4,633,055.46 4,537,764.00 0.50 Blackrock Ir-Ish Msci Fe Ex-Jp 152,670 EUR 6,294,384.38 6,926,637.90 0.76 Cs Etf Eur 1-3 /Eur 41,100 EUR 4,603,816.50 4,609,365.00 0.51 Cs Etf Msci Pac Ex Japan Usd 14,501 EUR 1,573,718.59 1,690,671.59 0.18 Cs Etf S&P 500 /Usd 176,580 EUR 33,162,489.91 35,815,721.40 3.93 Db X Tracker Msci Ap Ex Jp 54,430 EUR 2,460,823.81 2,638,766.40 0.29 Dbx Hy Bond Eur -1c- /Cap 1,524,654 EUR 27,477,547.58 27,199,827.36 2.98 Dbxt Es50 — Shs -Ic- Cap 671,200 EUR 46,944,485.88 51,809,928.00 5.68 Dbxt Msci Em Shs -1c- Cap 403,930 EUR 13,736,235.24 14,763,641.50 1.62 Dbxt Msci Jap Shs -1c- Cap 159,428 EUR 7,416,033.94 7,682,835.32 0.84 Dbxt2 Iese13Tr -1C- /Cap. /Etf 13,300 EUR 2,262,214.29 2,253,153.00 0.25 Dbxt2 Iese35Tr -1C- /Cap /Etf 31,100 EUR 6,324,589.30 6,275,980.00 0.69 Dbxt2 Ise57 -1c- Cap 19,600 EUR 4,644,037.72 4,557,980.00 0.50 Dbxt2 Ise710 -1c- Cap 17,800 EUR 4,675,175.34 4,532,236.00 0.50 Dj Stoxx 600 -A- Etf Eur 468,230 EUR 32,756,596.87 35,730,631.30 3.92 Ishare Eu Govt Bond 7-10 Etf* 21,700 EUR 4,679,957.23 4,503,184.00 0.49 Ishares Bar Em Etf Usd /Dis 478,000 EUR 28,290,693.60 27,628,400.00 3.03 Ishares Bc Eur Cor /Dis* 169,980 EUR 21,875,297.34 22,043,006.40 2.42 Ishares Bc Eur Gvt Bd /Dis 64,100 EUR 16,503,051.39 14,338,529.00 1.57 Ishares Euro Stoxx (De) 245,000 EUR 9,373,871.50 9,158,100.00 1.00 Ishares Gl High Yld Crp Bd Usd Etf 493,700 USD 44,330,807.29 42,838,981.33 4.70 Ishares Mark Ibox /Exch Tr Eur* 108,066 EUR 11,832,964.47 11,564,142.66 1.27 Ishares Msci Japan 866,764 EUR 9,752,693.21 10,301,490.14 1.13 Ishares Plc-Usd Corp Bond 612,617 EUR 62,731,826.44 62,119,363.80 6.82 Ishares Stoxx Europe 600 (De) 1,596,070 EUR 57,275,206.74 60,203,760.40 6.61 Ishares Usd Hgh Yd Etf-Usd /Dis* 311,400 USD 30,309,241.82 28,658,518.45 3.14 Ishares Vi Glb Cor-Usd Etf 338,710 USD 29,653,550.82 29,161,663.10 3.20 Ishesb 30-15 (De) Anteile 466,590 EUR 6,930,929.73 6,068,002.95 0.67 Ishs Bar Gvt Eur Shs Eur 28,700 EUR 4,139,128.35 4,142,845.00 0.45 Ishs Glb Gov Bd Etf -Usd- /Dis 484,750 EUR 45,202,501.23 45,396,837.50 4.98 L UEtf EmMkts /PartsC Eurcap 1,538,700 EUR 13,739,747.42 14,725,359.00 1.62 L Ucits 3-5y Inv Gr Act Cap 41,100 EUR 6,326,403.81 6,285,423.00 0.69 Lyxor Estoxx 300 Dr Etf C Eur 55,000 EUR 9,216,922.00 9,017,800.00 0.99 Mul Ly E57y Ing -C- Eur- Cap Etf 28,500 EUR 4,635,811.08 4,544,610.00 0.50 Mul Ly E710y Ig -C- Eur /Cap 26,700 EUR 4,677,574.28 4,534,778.73 0.50 Mul Ly Sp500 D Shs 1,119,030 EUR 22,929,294.86 24,375,270.98 2.67 Mul. Un Fr-Lyx Euro 1-3Y /Cap /Dis 36,400 EUR 4,606,183.40 4,581,304.00 0.50 Ssga Bar Cor Bd /Gbp-Etf* 61,360 EUR 4,831,221.67 4,311,153.60 0.47 Ssga Bar Emg Mk /Ex. Trad. Fd Usd 420,000 USD 28,294,038.76 27,585,167.00 3.03 Ssga Spdr S&P 500 Etf Dis* 115,970 USD 23,313,498.86 24,656,968.62 2.71 Ubi Eu Eq -I- Cap /Eur** 400,000 EUR 2,000,000.00 1,969,600.00 0.22 Ubi Euro Hy -I- Cap** 1,000,000 EUR 5,000,000.00 5,004,000.00 0.55 Ubi It Mc Eq -I- Cap** 400,000 EUR 2,000,000.00 1,972,400.00 0.22 Ubi Ital Eq -I- Cap** 400,000 EUR 2,000,000.00 2,237,600.00 0.24



UBI SICAV




Ubs Etf Msci Jap A Dis 206,425 EUR 7,331,290.29 7,717,198.63 0.85 Vang S&P 500 Ptf -Usd- /Dis 290,520 GBP 9,885,882.66 11,719,369.69 1.29

804,559,375.35 819,741,878.89 89.95





8,000,000.00 7,874,376.00 0.86




UBI SICAV






Cassa e Altre Attività / (Passività) 5.19 Francia 11.58

100.00 Germania 8.28

Italia 3.51 Stati Uniti d’America 1.35


100.00

185

UBI SICAV




netto



3,233,600.00 3,208,582.40 1.02

Azioni A2a Spa 2,946,000 EUR 3,353,790.82 4,283,484.00 1.36 Allergan Plc* 41,000 USD 8,358,741.71 8,737,345.49 2.78 Assicurazioni Generali Spa 1,318,000 EUR 16,911,214.24 18,992,380.00 6.05 Atlantia Spa 480,000 EUR 11,613,322.79 11,827,200.00 3.77 Autogrill Spa 765,369 EUR 5,573,709.41 8,120,565.09 2.59 Bca Popolare Emilia Romagna 908,000 EUR 3,969,537.05 3,964,328.00 1.26 Buzzi Unicem* 415,623 EUR 6,206,993.49 9,056,425.17 2.88 Cementir Holding S.P.A 280,078 EUR 1,252,349.31 1,462,007.16 0.47 Cnh Industrial Reg Shs 1,600,928 EUR 9,311,481.19 15,873,201.12 5.05 Danieli+C. /Risp. N-Cv 374,000 EUR 5,098,747.61 5,864,320.00 1.87 Eni Spa Roma 1,799,000 EUR 23,257,035.12 23,674,840.00 7.54 Fe New Nv 170,000 EUR 7,069,265.64 12,775,500.00 4.07 Fiat Chrysler Automobiles Nv* 1,275,000 EUR 8,562,836.56 11,768,250.00 3.75 Finmeccanica /Post Regroup.* 560,000 EUR 6,189,322.08 8,148,000.00 2.59 Inditex 197,000 EUR 5,901,922.98 6,621,170.00 2.11 Intesa Sanpaolo 5,227,000 EUR 11,403,586.90 14,510,152.00 4.62 Intesa Sanpaolo /Risp-Non Conv* 2,581,000 EUR 5,747,302.79 6,700,276.00 2.13 Iren S.P.A.* 3,441,150 EUR 4,950,757.96 6,978,652.20 2.22 Livanova Plc 53,000 USD 2,342,007.29 2,843,981.77 0.91 Luxottica Group 222,000 EUR 10,668,951.69 11,244,300.00 3.58 Nokia Oy 1,717,000 EUR 8,202,810.61 9,194,535.00 2.93 Pernod-Ricard 43,000 EUR 4,599,598.95 5,041,750.00 1.61 Prysmian Spa 590,917 EUR 11,588,985.48 15,216,112.75 4.84 Rai Way S.P.A. 704,682 EUR 3,279,115.78 3,076,641.61 0.98 Red Electrica Corporacion. Sa 227,000 EUR 4,473,804.11 4,152,965.00 1.32 Saipem Spa 2,335,000 EUR 8,396,600.19 7,551,390.00 2.40 Salini Impreg Az. Post Ragrupp* 1,468,018 EUR 3,922,860.63 4,448,094.54 1.42 Sampo Plc A 126,000 EUR 5,231,338.14 5,653,620.00 1.80 Saras Raffinerie Sarde* 1,373,000 EUR 2,047,417.18 2,798,174.00 0.89 Shire Plc 166,000 GBP 8,754,094.55 8,009,881.79 2.55 Snam Rete Gas Spa 1,473,000 EUR 6,137,863.95 5,620,968.00 1.79 Tenaris Sa 737,000 EUR 7,902,017.40 10,060,050.00 3.20 Terna - Rete Elettrica Nazional 596,000 EUR 2,632,642.69 2,816,696.00 0.90 Unicredit Spa 1,583,000 EUR 24,532,263.80 25,882,050.00 8.24

259,444,290.09 302,969,306.69 96.47





4,500,000.00 4,429,336.50 1.41


TOTALE DEGLI INVESTIMENTI 267,177,890.09 310,607,225.59 98.90 * Titoli parzialmente o totalmente prestati (Cfr. Nota 9).


UBI SICAV





Petrolio

Assicurazioni Industria Automobilistica

Comunicazioni

Varie

Servizi Pubblici


Trasporti

Fotografia e ottica




Intrattenimento

Retail


Tabacco e alcolici

Fondi d’Investimento





16.25 Italia

10.83 Paesi bassi

7.85 Finlandia

7.82 Spagna

7.77 Lussemburgo

7.60 Irlanda

7.59 Jersey

4.77 Francia

3.77 Gran Bretagna


3.20

2.78

2.59

2.59

2.11

1.87

1.61

1.41

1.02

0.98

0.91

1.10

70.89

8.80

4.73

3.43

3.20

2.78

2.55

1.61

0.91

1.10

100.00

100.00

187

UBI SICAV




netto


Obbligazioni France 2.5% 10-25.10.20 Oat 4,000,000 EUR 4,449,480.00 4,376,919.88 0.52 Italy 0.1% 16-15.04.19 /Btp 16,000,000 EUR 16,023,312.00 16,063,264.16 1.92 Italy 0.25% 15-15.05.18 /Btp 12,000,000 EUR 11,961,120.48 12,063,479.88 1.44 Italy 1.5% 14-01.08.19 /Btp 17,000,000 EUR 17,554,030.00 17,532,099.49 2.10 Italy 2.5% 14-01.05.19 /Btp 14,000,000 EUR 14,904,213.33 14,657,719.72 1.75 Italy 3.5% 13-01.06.18 Btp 12,000,000 EUR 13,067,880.00 12,421,452.00 1.49 Italy 4.25% 03-01.02.19 /Btp 12,000,000 EUR 13,548,480.00 12,830,399.76 1.54 Italy 4.25% 09-01.09.19 16,000,000 EUR 18,127,640.00 17,452,320.48 2.09 Italy 4.5% 04-01.02.20 /Btp 12,000,000 EUR 13,966,800.00 13,342,056.00 1.60 Italy 4.5% 08-01.08.18 /Btp 12,000,000 EUR 13,469,400.00 12,628,571.76 1.51 Usa 1.25% 15-31.01.20 /Tbo 17,000,000 USD 15,127,786.15 14,812,313.71 1.77

152,200,141.96 148,180,596.84 17.73

Fondi d’Investimento Ab I Euz Sv I Eur 45,067 EUR 1,110,000.21 1,239,342.50 0.15 Ab I Sel Ab Al -I- H Eur 32,334 EUR 596,885.64 618,872.76 0.07 Agif Eurolnd Eq Gr- It- Eur /Cap 958 EUR 2,153,771.52 2,350,366.78 0.28 Agif Merg Ar St -It- Eur /Cap 8,335 EUR 8,554,043.80 8,664,232.50 1.04 Am Fl Rt Usd Corp Ucits Eurh 342,166 EUR 17,264,327.70 17,262,274.70 2.06 Am S&P 500 Etf -D H- Eur 96,930 EUR 5,486,191.68 6,030,984.60 0.72 Amundi Etf Eu Co 1-3- Parts 85,061 EUR 8,639,943.48 8,639,645.77 1.03 Amundi Etf Msci Em Mk -A- 1,420,922 EUR 5,008,435.68 5,375,347.93 0.64 Ani Star Pruden Class -I- 309,747 EUR 1,706,758.28 1,744,526.08 0.21 Anima Str High Pot Eur -I- 80,655 EUR 610,426.96 609,792.13 0.07 Av I Gl Hyield -I (Hedged) /Cap 3,061 EUR 604,895.39 630,685.69 0.08 Awf Framlington Italy -I/Cap 7,413 EUR 666,799.35 749,824.95 0.09 Awf Gl Cred Bds -I- Eur /Cap 46,347 EUR 6,127,929.34 6,156,272.01 0.74 Awf Gl Hy Bd -A Eur Hdg- Cap 7,879 EUR 649,573.07 684,842.68 0.08 Axa Fiis Us Cor -A- Eur /Cap 31,808 EUR 4,397,449.54 4,400,636.80 0.53 Axa Wld -Fram Eur Rel Va /-A- Cap 11,837 EUR 672,578.34 722,412.11 0.09 Banor Ebar I Cap 1,982 EUR 2,420,002.18 2,492,166.80 0.30 Bgf Fixed Inc Glob Opp -A2- Eurh 173,751 EUR 1,706,234.82 1,734,034.98 0.21 Blackrock Strat Fds Fix Inc D2 83,489 EUR 10,168,434.35 10,424,436.54 1.25 Bny Glb Hi Eur -I- Ac 387,512 EUR 443,911.16 467,533.23 0.06 Bny M Abs Rtn Bd -S- Eur Dis 46,734 EUR 5,107,246.54 5,132,860.65 0.61 Brgf Glb Co Bd/-A2- Eur- Hdg Cap 353,429 EUR 4,504,226.25 4,513,288.33 0.54 Brsf Eur Absolute Ret. /-D2- Cap 10,218 EUR 1,363,081.20 1,327,420.38 0.16 Can Bd Cr Opp -C- Cap 36,226 EUR 6,873,883.50 7,198,468.46 0.86 Can Bds Total Return -C- Cap 49,625 EUR 6,846,761.25 6,781,752.50 0.81 Cs Etf Msci Pac Ex Japan Usd 56,666 EUR 6,301,638.14 6,606,688.94 0.79 Dbxt Es50 — Shs -Ic- Cap 59,777 EUR 4,464,790.43 4,614,186.63 0.55 Dbxt Msci Eu Sm - Shs -1c- Cap 126,698 EUR 4,871,496.07 5,155,341.62 0.62 Dexia Long Short Credit /Cap 9,181 EUR 10,674,565.08 10,696,874.91 1.28 Dnca Invest Miuri -I /Cap 75,750 EUR 9,704,054.49 9,958,095.00 1.19 Dws Conc Calde -Fc- /Cap 40,054 EUR 5,529,855.24 5,872,717.48 0.70 Dws Inv-Top Euroland /-Fc- Cap 2,987 EUR 621,803.79 656,273.77 0.08 Epsilon Em Bdtr Units -I- /Cap 117,942 EUR 15,962,610.13 16,522,494.78 1.98 Euriz Eq It - Units -Z- 5,993 EUR 593,606.65 655,754.06 0.08 Eurizon Abs Prud-Units -Z- 57,585 EUR 7,255,118.32 7,321,932.75 0.88 Exane 1 Mercury Ac 284 EUR 3,239,665.38 3,204,394.72 0.38 Fid Eur Blue Chip -Y- Acc -Eur 43,164 EUR 663,862.32 716,522.40 0.09 Fid Gl Co Bd -Y- Acc- Eur(Hedged) 105,017 EUR 1,359,610.52 1,368,371.51 0.16 Fidelity Italy Fd - Y Acc Eur 94,138 EUR 863,904.43 933,095.86 0.11 Fl Ms Brd Tact -B2- Hdg Eur /Cap 875 EUR 902,338.13 999,223.75 0.12 Fund Ipm Sys I/Eur -Cap 1,954 EUR 2,025,470.09 2,132,993.43 0.26 Fundlogi Ms I /Eur 6,416 EUR 6,759,849.44 7,013,522.08 0.84 G Fund Sicav -Ic- Eur /Cap 6,505 EUR 7,122,064.30 7,123,235.20 0.85 Gam Alt Prem — Accum Ins Eur 241,382 EUR 2,760,299.72 2,760,927.32 0.33 Gen I Eu Stbd -Bx Cap 106,775 EUR 14,240,795.30 14,278,273.33 1.71 Glg Vi Nr Mkt -In H- Eur /Cap 13,937 EUR 1,357,045.69 1,377,951.19 0.16


UBI SICAV




Grp Tre Prt -M- De 3 Dec Eur /Cap 4,096 EUR 4,268,072.96 4,265,984.00 0.51 Hend Hor Eur Corp Bond I2 Cap 23,616 EUR 3,722,824.44 3,737,468.16 0.45 Hend Hor Eurol -I2- Eur /Cap 62,976 EUR 850,176.00 907,484.16 0.11 Hend Hor P Eu Al Pl -I2- Cap 150,006 EUR 2,474,089.23 2,508,100.32 0.30 Hgf Uk Ar -I- (Hedged) /Cap 502,617 EUR 3,428,623.95 3,616,882.19 0.43 Inv Euro Eq Shs -A- Cap 4,244 EUR 507,370.20 539,115.32 0.06 Inv Gl Inv Gr Cor -A- Hedge /Cap 449,153 EUR 4,659,485.67 4,722,753.96 0.56 Ishs Glb Gov Bd Etf -Usd- /Dis 88,868 EUR 8,458,358.49 8,322,488.20 1.00 J.Baer Mulbd-Cr Opp Bd /-C -Cap 16,474 EUR 3,070,796.67 3,097,276.74 0.37 Jpmf Eurol Dyn Ac- A Eur- /Cap 2,200 EUR 478,654.00 515,724.00 0.06 Jpmf Eurold Eq /-C (Acc) Eur-Cap 29,560 EUR 625,785.20 686,974.40 0.08 Jpmf Flex Cred -Jpm A-Eur /Cap 444,598 EUR 4,558,513.33 4,637,157.14 0.55 Jpmf Gl Corp Bd -A Eurh- /Cap 237,085 EUR 3,043,951.81 3,048,913.10 0.36 Jpmf Gl Str Bd Ahc-Jpm Aeur /Cap 17,666 EUR 1,707,595.56 1,716,958.54 0.21 Jup Gl Jup Eur -D B- Eur /Cap 104,516 EUR 1,183,121.12 1,301,224.20 0.16 Laffitte Risk Arb -I- 4d /Cap 747 EUR 8,536,887.81 8,503,093.53 1.02 Lemanik High Gr -Cap Inst Eur- 4,559 EUR 867,349.75 950,050.01 0.11 Lutetia Patrimoine I Eur /Cap 36,149 EUR 4,271,365.84 4,305,707.39 0.51 M&G Glob Eur -C- H-A Acc Hed 31,694 EUR 450,847.53 475,936.12 0.06 M&G Opt Inc Ac -C- Eu /Cap 91,826 EUR 1,766,658.42 1,938,777.43 0.23 Mul Ly E210y Ie -C- Eur -Cap 169,805 EUR 17,272,394.80 17,109,551.80 2.05 N1 Multi-Asset -Bi- Eur /Cap 129,564 EUR 1,488,690.36 1,567,724.40 0.19 N1 Us Corp Bd- Hbi- Eur- /Cap 417,677 EUR 4,361,147.83 4,389,785.27 0.53 N1 Us Tot Ret Bd- Hbi- Eur- Cap 28,161 EUR 2,421,282.78 2,413,397.70 0.29 Nat Am Cr Opp -I /A- Eur /Cap 63 EUR 3,568,830.93 3,613,385.79 0.43 Nat Am Eu Bo12m-I /A (Eur)- /Cap 208 EUR 11,417,606.72 11,465,405.12 1.37 Nat Am Eu V Eq -I/A (Eur) -Cap 57 EUR 621,028.11 651,187.95 0.08 Nn (L) Gl Hy -I Hedg- Cap 1,234 EUR 658,063.56 681,710.96 0.08 Nn L Eur H Div -I- Cap 1,270 EUR 718,997.80 772,033.00 0.09 Nomura Us H Yld Bd -I- Eurh /Cap 14,828 EUR 1,869,437.81 1,955,715.34 0.23 Nordea 1 Gl Fix In -Bi- Eur /Cap 66,409 EUR 7,281,082.76 7,200,063.78 0.86 Nordea1 Sta. Ret. -Bi- Cur. /Cap 513,082 EUR 8,814,516.45 9,276,522.56 1.11 Parv Bd W Hy -C- Eur /Cap 4,351 EUR 430,047.14 443,584.45 0.05 Parvest Enh Cash 6m /-Cl- Cap 38,765 EUR 4,268,801.80 4,274,616.55 0.51 Parvest Mm Euro/-Cl- Cap 20,343 EUR 4,268,241.85 4,261,903.25 0.51 Pim Eu Sht Acc Instclass Eur 696,307 EUR 8,536,723.82 8,522,797.68 1.02 Pim Glb Hy Ac. Inst Cleur (Hed) 76,976 EUR 1,640,337.09 1,721,953.12 0.21 Pim Glb Inv Inc-Inst (Hdged) Eur 899,282 EUR 11,043,054.46 12,167,285.46 1.46 Pimco Eur Inco -Inst- Eur /Cap 351,457 EUR 4,588,823.53 5,071,524.51 0.61 Pimco Grd Cred Eur Ghedged Acc 416,843 EUR 7,708,911.61 7,811,637.82 0.93 Pion M- Str Gr -H- /Cap 648 EUR 926,063.28 948,458.16 0.11 Pioneer Fd Eur Strat Bd -H- 2,818 EUR 5,119,686.04 5,285,243.54 0.63 Pioneer Fd Eurol Eq -H- 471 EUR 669,794.97 717,347.13 0.09 Raiffeisen -Eur- Short- Rent I V 78,556 EUR 8,537,466.08 8,510,757.04 1.02 Ram Sys L/S Europe Eq -I- Cap 19,117 EUR 2,671,600.75 2,849,962.36 0.34 Ram Sys Lsem Eq -Ie /Cap 43,692 EUR 5,128,730.70 4,938,069.84 0.59 S Lif Ig Argbs -D Hdg- Eur /Cap 314,545 EUR 3,416,902.33 3,382,050.75 0.40 S Lif Ig Gl Cbd -D- Eur Hdg /Cap 465,361 EUR 6,100,180.52 6,137,832.37 0.73 Ser Pl Adg Smu-E-Eur/Cap 20,780 EUR 2,164,958.07 2,133,690.40 0.26 Ser Pl Maver Fd Qu -I- Eur 20,938 EUR 2,067,135.46 2,190,809.94 0.26 Ser Pl Msk Eq Ucits -I- Eur 34,583 EUR 3,259,734.79 3,333,240.96 0.40 Sisf /Euro Equity Reg. -A- /Cap. 19,334 EUR 649,309.19 716,131.36 0.09 Sisf Italian Eq -A- Eur/Cap 16,319 EUR 499,811.80 553,778.74 0.07 Sour S&P 500 G-Ct Shs Ger Cert 14,163 EUR 4,898,056.15 5,255,322.78 0.63 Spdr Ftse Uk All Shs Ucits Gbp 87,041 EUR 4,740,883.35 4,750,697.78 0.57 Swc (Lu) B Gl C Dth Eur- Cap 46,596 EUR 6,129,732.78 6,196,802.04 0.74 Sycomore L/S Opport -I- Cap 3,325 EUR 1,179,876.25 1,254,190.00 0.15 Theam Ma Div -I- Eur /Cap 34,261 EUR 4,481,338.80 4,424,465.54 0.53 Thr Uk Abs Eur -Z- Ac 994,702 EUR 1,301,070.22 1,360,354.46 0.16 Thread Focus Credit Opp -2- Eur 2,682,152 EUR 3,556,265.34 3,613,663.39 0.43 Ubi Eurcorbdhp -I- Eur /Cap* 12,100,470 EUR 60,152,077.77 61,821,301.23 7.39

* Investimento in comparti incrociati, Cfr. Nota 16, per ulteriori dettagli. Le note allegate formano parte integrante del rendiconto finanziario.

189

UBI SICAV




Ubi Euro Hy -I- Cap* 3,041,002 EUR 15,241,502.02 15,217,174.01 1.82 Ubi Ital Eq -I- Cap* 217,249 EUR 1,152,288.69 1,215,290.91 0.15 Ubi Sicav Active Beta /-I- Cap* 1,632,529 EUR 8,784,638.55 8,892,385.46 1.06 Ubi Sicav Be Neu -I- /Cap* 1,275,483 EUR 6,136,348.71 5,904,210.81 0.71 Ubi Sicav Euro Eq. High Div. I* 121,240 EUR 833,282.52 876,807.68 0.10 Ubi Sicav Euro Eq. I* 92,557 EUR 650,212.92 681,682.31 0.08 Ubi Sicav L/S Eur -I- /Cap* 1,405,351 EUR 7,497,959.98 7,269,880.72 0.87 Ubs Etf Muhe -A- Cap- 301,843 EUR 5,226,605.38 5,479,959.67 0.66 Ubs l.E /Eu. Co. O. /Eur -P- Acc- Cap 19,021 EUR 1,729,026.97 1,824,304.11 0.22

547,769,324.46 558,826,613.50 66.85

Azioni Akzo Nobel Nv (Eur 2) 7,000 EUR 530,730.26 532,630.00 0.06 Allianz Se /Nam. Vinkuliert 3,000 EUR 384,564.25 517,200.00 0.06 Anheuser-Busch Inbev Sa /Nv 5,000 EUR 559,987.96 483,550.00 0.06 Atlantia Spa 20,000 EUR 449,382.02 492,800.00 0.06 Bme 19,000 EUR 510,249.70 600,685.00 0.07 British American Tobacco (25p) 8,000 GBP 443,072.42 476,739.10 0.06 Deutsche Telekom /Nam. 54,000 EUR 825,647.47 848,880.00 0.10 Eni Spa Roma 98,000 EUR 1,370,161.50 1,289,680.00 0.15 Evonik Industr Shs 12,000 EUR 330,943.91 335,820.00 0.04 France Telecom Sa 60,000 EUR 867,288.09 833,400.00 0.10 Gas Natural Sdg /Split Issue 31,000 EUR 543,746.84 635,190.00 0.08 Gaz De France 46,000 EUR 665,793.38 607,890.00 0.07 Glaxosmithkline Plc 36,000 GBP 720,302.95 670,363.12 0.08 Inditex 16,000 EUR 478,640.37 537,760.00 0.06 Intesa Sanpaolo /Risp-Non Conv 282,000 EUR 490,348.63 732,072.00 0.09 Koninklijke Ahold Delhaize N.V. 45,000 EUR 904,776.11 753,300.00 0.09 Nokia Oy 169,000 EUR 787,566.01 904,995.00 0.11 Nordea Bank Ab /Finn. Dep. Rec 102,000 EUR 815,569.80 1,136,280.00 0.14 Pernod-Ricard 5,000 EUR 498,012.20 586,250.00 0.07 Prysmian Spa 32,000 EUR 608,957.46 824,000.00 0.10 Sa Des Ciments Vicat-Vicat 8,000 EUR 440,310.10 493,360.00 0.06 Sampo Plc A 30,000 EUR 1,147,057.88 1,346,100.00 0.16 Sanofi-Aventis 8,000 EUR 611,070.48 670,080.00 0.08 Scor Se 20,000 EUR 566,224.61 694,200.00 0.08 Siemens Ag /Nam. 7,000 EUR 625,415.62 842,450.00 0.10 Snam Rete Gas Spa 225,000 EUR 970,266.17 858,600.00 0.10 Total Sa 34,000 EUR 1,450,776.21 1,471,690.00 0.18 Unilever Cert. of Shs 26,000 EUR 1,070,257.20 1,256,320.00 0.15 Volkswagen Ag /Vorzug. 5,000 EUR 561,826.62 666,750.00 0.08

20,228,946.22 22,099,034.22 2.64

Warrant Mer Ly Intl 27.07.17 Cert /Mlcxsx6l 223,800 EUR 22,380,000.00 22,335,016.20 2.67 Ml Intl 17-27.09.17 Cert /Mlcia3c0 167,400 EUR 16,740,000.00 16,735,982.40 2.00

39,120,000.00 39,070,998.60 4.67


ufficiale di una borsa valori 759,318,412.64 768,177,243.16 91.89 * Investimento in comparti incrociati, cfr. Nota 16, per ulteriori dettagli.


UBI SICAV





Warrant Ubs Ag 03.03.23 Cert /Ubcilpt 5 100,000 EUR 10,000,000.00 9,829,000.00 1.18

10,000,000.00 9,829,000.00 1.18




UBI SICAV






Holding e Società Finanziarie 4.67 Irlanda 10.11

Banche e Istituzioni Finanziarie 1.41 Francia 9.08

Comunicazioni 0.41 Curaçao 4.67

Petrolio 0.33 Gran Bretagna 2.20

Assicurazioni 0.30 Stati Uniti d’America 1.77

Servizi Pubblici 0.25 Austria 1.02

Tabacco e alcolici 0.19 Germania 0.38

Farmaceutica e Cosmetica 0.16 Paesi bassi 0.30

Cibo e bevande 0.15 Finlandia 0.27

Retail 0.15 Spagna 0.21

Chimica 0.10 Svezia 0.14

Beni d’investimento 0.10 Belgio 0.06

Industria Automobilistica 0.08 Cassa e Altre Attività / (Passività) 6.93


Costruzioni e Materiali da Costruzione 0.06 Trasporti 0.06


100.00

100.00

192

UBI SICAV




netto



1,515,750.00 1,504,023.00 1.11

Azioni Abb Ltd Zuerich /Namen. 69,000 CHF 1,136,741.10 1,495,716.47 1.11 Aberdeen Asset Management Plc* 465,000 GBP 1,650,032.91 1,598,884.02 1.18 Allergan Plc* 27,000 USD 5,658,170.41 5,753,861.66 4.25 Allianz Se /Nam. Vinkuliert 13,000 EUR 1,842,286.29 2,241,200.00 1.66 Anheuser-Busch Inbev Sa /Nv 13,000 EUR 1,427,479.85 1,257,230.00 0.93 Assa Abloy Ab* 115,000 SEK 1,986,013.13 2,212,381.50 1.64 Atlas Copco Ab 30,000 SEK 667,882.33 1,007,116.10 0.74 Autogrill Spa 362,209 EUR 2,663,864.21 3,843,037.49 2.84 Bme* 67,000 EUR 1,874,929.07 2,118,205.00 1.57 Booker Group Plc 848,000 GBP 1,855,479.81 1,797,763.65 1.33 British American Tobacco (25p)* 63,000 GBP 3,263,304.54 3,754,320.41 2.78 Danske Bank As 51,000 DKK 1,248,021.42 1,717,561.14 1.27 Deutsche Telekom /Nam. 243,000 EUR 3,684,912.84 3,819,960.00 2.82 Eni Spa Roma 240,000 EUR 3,125,578.32 3,158,400.00 2.34 Evonik Industr Shs 43,000 EUR 1,132,049.61 1,203,355.00 0.89 Fiat Chrysler Automobiles Nv 223,000 EUR 1,417,537.44 2,058,290.00 1.52 France Telecom Sa 133,000 EUR 1,973,767.90 1,847,370.00 1.37 Glaxosmithkline Plc 171,000 GBP 3,107,446.14 3,184,224.83 2.35 Henkel /Vorzug. 18,000 EUR 1,780,217.15 2,169,000.00 1.60 Inditex 146,000 EUR 4,372,201.39 4,907,060.00 3.63 Intesa Sanpaolo 1,030,000 EUR 2,473,602.27 2,859,280.00 2.11 Jeronimo Martins Sgps Sa 364,662 EUR 5,242,539.17 6,232,073.58 4.61 Koninklijke Ahold Delhaize N.V. 240,000 EUR 4,627,319.57 4,017,600.00 2.97 Livanova Plc 28,000 USD 1,244,674.07 1,502,480.93 1.11 Nokia Oy 914,000 EUR 4,358,365.36 4,894,470.00 3.62 Nordea Bank Ab 294,000 SEK 2,470,096.82 3,275,652.90 2.42 Pernod-Ricard 24,000 EUR 2,403,461.62 2,814,000.00 2.08 Premier Oil Plc* 1,356,000 GBP 833,465.92 771,945.71 0.57 Prysmian Spa 179,000 EUR 3,521,392.67 4,609,250.00 3.41 Red Electrica Corporacion. Sa 102,000 EUR 2,010,388.69 1,866,090.00 1.38 Roche Holding Ag /Genussschein 11,000 CHF 2,403,615.64 2,458,990.39 1.82 Sa Des Ciments Vicat-Vicat 52,000 EUR 2,984,156.30 3,206,840.00 2.37 Saipem Spa 737,000 EUR 2,685,057.08 2,383,458.00 1.76 Sampo Plc A* 83,000 EUR 3,473,026.08 3,724,210.00 2.75 Scor Se 56,000 EUR 1,749,104.88 1,943,760.00 1.44 Shire Plc 110,000 GBP 5,712,916.26 5,307,752.99 3.93 Siemens Ag /Nam. 29,000 EUR 2,662,577.30 3,490,150.00 2.58 Skf Ab B 130,000 SEK 2,002,173.33 2,306,389.40 1.71 Sports Direct International* 569,000 GBP 2,810,306.60 1,886,516.91 1.40 Telenor As* 161,000 NOK 2,266,548.91 2,333,454.85 1.73 Total Sa* 91,000 EUR 3,615,478.37 3,938,935.00 2.91 Unicredit Spa 194,700 EUR 2,680,229.60 3,183,345.00 2.35 Unilever Cert. of Shs 80,000 EUR 3,163,418.86 3,865,600.00 2.86 Vodafone Group Plc 999,000 GBP 2,734,646.12 2,476,741.71 1.83 Volkswagen Ag /Vorzug. 24,000 EUR 2,654,270.46 3,200,400.00 2.37

118,650,747.81 129,694,324.64 95.91




193

UBI SICAV






2,000,000.00 1,968,594.00 1.46




UBI SICAV




Comunicazioni

Retail



Petrolio

Assicurazioni Tabacco e alcolici

Cibo e bevande


Varie


Intrattenimento

Beni d’investimento Costruzioni e Materiali da Costruzione

Beni di consumo

Edifici commerciali


Servizi Pubblici





Chimica


14.78 Italia

12.61 Gran Bretagna

8.42 Germania

8.15 Francia

7.58 Paesi bassi

5.85 Spagna

5.79 Svezia

4.19 Finlandia

4.09 Portogallo

3.93 Irlanda

3.89 Jersey

2.84 Svizzera

2.58 Norvegia

2.37 Danimarca

1.60 Belgio


1.46

1.38

1.18

1.11

1.11

1.11

0.89

1.52

17.38

12.55

11.92

10.17

7.35

6.58

6.51

6.37

4.61

4.25

3.93

2.93

1.73

1.27

0.93

1.52

100.00

100.00

195

UBI SICAV




netto


Obbligazioni Germany 0% 15-15.12.17 5,000,000 EUR 5,030,450.00 5,015,489.95 0.39

5,030,450.00 5,015,489.95 0.39

Fondi d’Investimento Ab I Euz Sv I Eur 90,800 EUR 1,968,140.28 2,497,000.00 0.20 Ab I L Vol Eq -I- 656,876 USD 13,432,801.97 14,442,404.30 1.14 Aberii Em Op Bd /-I- 1- Dis 2,816,000 USD 4,224,475.43 4,438,896.82 0.35 Agif Eurolnd Eq Gr- It- Eur /Cap 1,095 EUR 2,279,066.70 2,686,483.95 0.21 Allianz Val Dur/ -I- Cap (3dec) 43,500 EUR 9,485,985.64 10,387,800.00 0.82 Amun Bd Eur Go Me Cap 217,350 EUR 29,736,306.46 29,913,880.50 2.36 Amundi Bd Eur -Me- Cap 39,400 EUR 5,872,054.98 5,961,220.00 0.47 Amundi Idx Eq Euro -Me- /Cap 45,240 EUR 6,932,825.24 8,421,878.40 0.66 Awf Eur Gov Bd -I- Cap 85,620 EUR 11,830,835.25 11,852,376.60 0.94 Axa Ros Jp En Idx Eq Alpha -A 404,200 JPY 4,077,869.28 4,704,025.94 0.37 Axa Us En Idx Eq Al -A /Dis 450,200 USD 10,236,050.60 11,725,643.90 0.93 Bgf- Euro Bond /-A2- Cap 1,154,100 EUR 32,253,897.11 32,764,899.00 2.58 Bgf-Eur Short Dur. Bd /-A2- Cap 310,400 EUR 4,919,520.00 4,957,088.00 0.39 Bgf-Euro Market /-A2- Cap 120,200 EUR 2,971,095.12 3,455,750.00 0.27 Blackrock Asia Pac A2 Usd 135,300 USD 2,081,723.80 2,053,162.97 0.16 Blackrock Strat Fds Fix Inc D2 43,840 EUR 5,367,033.60 5,473,862.40 0.43 Bny M Abs Rtn Bd -S- Eur Dis 24,300 EUR 2,670,015.14 2,668,903.02 0.21 Bny S&P 500 Tk /Accum. Cl C Usd 5,490,100 USD 10,230,454.49 11,765,187.56 0.93 Can Bd Cr Opp -C- Cap 16,670 EUR 3,264,704.40 3,312,495.70 0.26 Can Bds Total Return -C- Cap 25,890 EUR 3,557,333.90 3,538,127.40 0.28 Carmignac Securite-F Eur Acc 171,650 EUR 17,965,747.05 18,311,622.00 1.44 Db Plat.Iv /Croci Euro /-I1c /Cap 74,480 EUR 18,733,756.69 20,924,411.20 1.65 Dbx Jp Sov Etf 1c /Cap 1,291,900 EUR 14,574,022.45 13,836,249.00 1.09 Dbxt2 Usd Tudr 1d Shs -1d- Dis 74,480 USD 14,913,674.30 13,955,124.40 1.10 Dexia Long Short Credit /Cap 4,210 EUR 4,898,369.80 4,905,113.10 0.39 Dws Inv Eur Gov Fc /Cap 82,250 EUR 15,974,021.93 16,105,372.50 1.27 Dws Inv-Top Euroland /-Fc- Cap 30,050 EUR 5,710,918.05 6,602,285.50 0.52 Eff Gr Eu Gl Bd-I Eur- Cap 49,950 EUR 5,847,873.63 5,736,277.98 0.45 Epsilon Em Bdtr Units -I- /Cap 37,300 EUR 5,152,409.00 5,225,357.00 0.41 Epsilon Eu Q-Eq -I- /Cap 37,270 EUR 3,956,592.66 4,933,057.20 0.39 Epsilon Fd Eu. Bd -I- /Cap 257,900 EUR 44,007,151.03 44,650,227.00 3.52 Eurizon Abs Prud-Units -Z- 17,400 EUR 2,200,350.00 2,212,410.00 0.17 Eurizon Bd Eur Lg Lte -Z- Cap 46,270 EUR 11,775,899.93 11,808,566.70 0.93 Eurizon Bd Eur St Lte -Z- 171,700 EUR 26,693,295.81 26,659,859.00 2.10 Eurizon Bd Gbp Lte -Z- /Cap 15,310 EUR 2,837,725.42 2,684,608.50 0.21 Eurizon Bd Jpy Lte -Z- /Cap 56,780 EUR 7,226,283.37 6,887,414.00 0.54 Fid America -Y- Usd /Cap 1,023,100 USD 16,102,389.97 17,866,355.75 1.41 Fid Asia Sp Sit -Y-Acc Usd-Cap 119,500 USD 2,099,309.95 2,121,394.76 0.17 Fid Eur Bd -Y- Acc- Euro Cap 1,564,000 EUR 24,034,285.86 24,601,720.00 1.94 Fid Gl Demogr -Y- Acc- Usd- Cap 322,025 USD 4,396,351.37 5,081,490.42 0.40 Fidelity Fds Euro Corp -Y- /Cap 267,600 EUR 8,291,430.66 8,643,480.00 0.68 Fidelity Global Technology 115,400 EUR 4,917,194.00 4,877,958.00 0.39 Fr Ti Gl Ag Bd -A- Acc- Usd /Cap 401,000 USD 3,834,557.29 3,694,669.94 0.29 Fundlogi Ms I /Eur 3,350 EUR 3,566,099.60 3,661,985.50 0.29 G Fund Sicav -Ic- Eur /Cap 2,980 EUR 3,254,798.60 3,263,219.20 0.26 G Sachs Gl Core Eq -I- (Cl) Usd/C 1,119,000 USD 19,663,073.46 19,344,858.42 1.53 Gen I Eu Stbd -Bx Cap 48,700 EUR 6,495,718.90 6,512,310.10 0.51 Generali Euro Bds 1/3 Yrs -B- C 246,100 EUR 31,228,651.43 31,797,596.60 2.51 Generalli Euro Bond -Bx- /Cap 29,550 EUR 5,891,612.59 6,046,461.90 0.48 Gs Europe Core Eq -I- Acc 140,500 EUR 2,425,030.00 2,373,045.00 0.19 Hend Hor Eur Corp Bond I2 Cap 54,890 EUR 8,271,941.99 8,686,891.40 0.69 Hend Hor Eurol -I2- Eur /Cap 1,845,100 EUR 22,654,916.61 26,587,891.00 2.10 Hgf Pan European 221,000 EUR 2,074,198.42 2,364,589.50 0.19 Inv Em Euro St -A- /Cap 444,600 EUR 4,924,083.32 4,984,277.22 0.39 Inv Euro Bd -A- Cap 3,381,900 EUR 24,206,692.82 25,107,225.60 1.98 Inv Euro Eq Shs -A- Cap 78,950 EUR 8,132,368.61 10,029,018.50 0.79


UBI SICAV




Invesco Em Mkt Quant Eq -A- Cap 291,400 USD 2,386,553.74 3,032,276.67 0.24 Invesco Fds /Glob. Leisure -A- Cap 117,500 USD 4,894,455.39 4,942,272.29 0.39 Invesco P Eu Str Eq -A- Cap 127,000 EUR 2,411,730.00 2,355,850.00 0.19 Jpm Fl./Euro.Sel.Eq.-C-Eur Cap 16,750 EUR 2,413,507.50 2,377,997.50 0.19 Jpmf Egs Dur Bd-Jpm A (Acc) Cap 774,300 EUR 8,717,384.99 8,679,903.00 0.69 Jpmf Eu Gov Bd -A- Eur /Cap 393,550 EUR 5,881,653.22 5,883,966.05 0.46 Jpmf Eurol Dyn Ac- A Eur- /Cap 28,660 EUR 5,688,558.14 6,718,477.20 0.53 Jpmf Eurold Eq /-C (Acc) Eur-Cap 880,900 EUR 16,725,637.20 20,472,116.00 1.62 Jpmf H Eu Steep Ac-A Eur-/Cap 111,250 EUR 2,421,912.50 2,381,862.50 0.19 Kem Itl L Eur C -I- Eur /Cap 7,820 EUR 10,380,448.02 10,791,678.20 0.85 Lm Bw Gfi Usd -Pr- Ac 232,050 USD 23,413,533.77 24,364,538.00 1.92 Lm Wa Glb Core -Prem- Usd /Cap 122,300 USD 14,948,598.19 15,191,274.66 1.20 Lo Gen Gi -I- Usd /Cap 1,071,300 USD 17,265,552.70 19,911,698.15 1.57 M&G Gl Emerg Markets -C- Usd 131,900 USD 2,333,343.34 2,970,658.11 0.23 Mfs Gl Concentrated -I1- Cap 64,030 USD 12,651,259.91 14,994,594.46 1.18 Monde Gan -M- 3d 45,650 EUR 13,273,231.32 14,464,659.00 1.14 Msif /Eurozone Eq Alpha Fd /-A- 518,300 EUR 5,570,198.94 6,639,423.00 0.52 N1 Gl-Shs-Bi-Divisa /Cap 1,285,900 EUR 23,004,206.45 22,438,955.00 1.77 Nat Am Cr Opp -I /A- Eur /Cap 29 EUR 1,624,409.98 1,646,097.97 0.13 Nat Am Eu Agg -R/A- Eur /Cap 161,500 EUR 24,414,708.84 24,638,440.00 1.94 Nat Am Eu Bo12m-I /A (Eur)- /Cap 97 EUR 5,298,032.78 5,319,286.51 0.42 Natixis Souverains Euro Rc 4d 56,010 EUR 29,598,344.46 29,525,111.40 2.33 Nn L Eur Cr -I- Cap 2,145 EUR 4,160,693.90 4,328,588.55 0.34 Nordea 1 Gl Fix In -Bi- Eur /Cap 20,100 EUR 2,184,715.00 2,179,242.00 0.17 Parv Eq Bs Eur -Classic- Cap 6,700 EUR 2,912,414.12 3,462,761.00 0.27 Pic Gl Bds I Usd-I Usd-Cap 45,200 USD 7,581,783.32 7,594,883.84 0.60 Pictet -Qgleq -I- Eur /Cap 33,500 EUR 4,910,095.00 4,744,605.00 0.37 Pictet Eur Sh Md Ter Bd /-I- Cap 63,640 EUR 8,731,149.72 8,735,862.80 0.69 Pictet Eurold Indx -Is Eur -Cap 37,150 EUR 5,128,640.73 5,591,446.50 0.44 Pictet Security -I Usd- /Cap 24,260 USD 4,273,831.51 4,861,357.76 0.38 Pictet Usa Index /-Is Usd- Cap 61,150 USD 10,144,479.16 11,751,821.69 0.93 Pictet Usd Gov Bd -I- Cap 24,820 USD 14,827,881.58 14,199,207.15 1.12 Pim Eu Sht Acc Instclass Eur 319,950 EUR 3,921,632.50 3,916,188.00 0.31 Pim Glb Hy Ac. Inst Cleur (Hed) 1,513,496 EUR 31,300,241.11 33,856,907.47 2.67 Pim Glb Inv Inc-Inst (Hdged) Eur 287,800 EUR 3,706,748.00 3,893,934.00 0.31 Pimco Eur Inco -Inst- Eur /Cap 107,600 EUR 1,483,450.00 1,552,668.00 0.12 Pimco Glb Bd Inst Usd (Cexp) Acc 429,600 USD 11,063,670.90 11,309,623.92 0.89 Pioneer Fd Eur Strat Bd -H- 1,480 EUR 2,688,233.20 2,775,784.40 0.22 Pioneer Fd Eurol Eq -H- 8,790 EUR 11,120,685.57 13,387,433.70 1.06 Raiffeisen -Eur- Short- Rent I V 36,090 EUR 3,918,382.60 3,909,990.60 0.31 Ram Sys Europ Eq-I-Cap 7,300 EUR 3,214,847.00 3,148,125.00 0.25 Ram Sys-Em Mkt Eq 31,560 USD 4,081,111.83 4,784,216.01 0.38 Rf Gbl Rent Ausland -I- Eur /Cap 72,150 EUR 7,634,020.53 7,569,256.50 0.60 Rus Invst Glb -Acc Clas B-Usd 200,000 USD 3,718,473.96 3,753,835.36 0.30 Russ Wr Eq Usd -B- /Cap 412,400 USD 8,263,208.00 9,732,452.00 0.77 S Lif Ig Argbs -D Hdg- Eur /Cap 164,600 EUR 1,779,119.22 1,769,812.12 0.14 Sisf /Euro Equity Reg. -A- /Cap. 372,600 EUR 11,572,436.08 13,801,104.00 1.09 Sisf /Qep Global Core -C- /Cap 187,000 USD 4,093,954.14 4,688,868.85 0.37 Sisf Japan Opport -A- Cap 221,800 JPY 2,664,323.40 3,167,190.76 0.25 Spdr Bar Uk -Etf- Gbp /Dis 40,950 GBP 2,817,089.21 2,660,374.28 0.21 Ssga Emu In Eq Ic 693,000 EUR 7,762,135.88 8,426,187.00 0.66 Ssga Ss Wo Sri Ind Eq I- Usd- Cap 443,000 USD 4,248,753.93 4,811,134.57 0.38 T.R Pr Glb Foc Grwth Eq -I- Cap 559,000 USD 9,843,728.30 9,903,909.88 0.78 Thn Gl Ex Al- 2-Usd Net Ins /Cap 4,512,800 USD 12,573,445.57 14,811,099.01 1.17 Thr Eurp Corp Obl /Eur 2,603,500 EUR 4,140,456.20 4,323,111.75 0.34 Thr L Eu St Bd /-Ie- Cap 364,000 EUR 9,917,081.14 10,111,920.00 0.80 Thread Focus Credit Opp -2- Eur 1,240,000 EUR 1,641,696.00 1,670,652.00 0.13 Ubi Sicav Euro Eq. High Div. I* 334,100 EUR 2,125,880.20 2,416,211.20 0.19 Ubi Sicav Euro Eq. I* 1,776,600 EUR 11,445,509.89 13,084,659.00 1.03 Ubi Sicav High Yield Bond I* 2,042,752 EUR 21,186,783.91 23,252,651.30 1.83 Ubs l.E /Eu. Co. O. /Eur -P- Acc- Cap 25,400 EUR 2,117,159.53 2,436,114.00 0.19


197

UBI SICAV




Vont.Eu Corp M Yld Bd B /Cap 37,560 EUR 6,209,434.70 6,515,157.60 0.51 1,088,751,623.88 1,148,736,964.59 90.60


ufficiale di una borsa valori 1,093,782,073.88 1,153,752,454.54 90.99


Fondi d’Investimento Comgest Growth Plc I Eur Acc 54,600 EUR 1,785,966.00 1,724,268.00 0.14 Exane 2 Eq S Eu -A- Cap 115 EUR 2,324,988.35 2,278,125.85 0.18 M&G Eu St-C-Euro Ac 97,550 EUR 1,774,736.90 1,770,366.67 0.14 Mfsmf Eu C Eq -I1- 8,500 EUR 2,432,360.00 2,369,120.00 0.19 Pioneer Fd Eur Bd -H- 4,825 EUR 7,666,568.34 7,551,414.50 0.59

15,984,619.59 15,693,295.02 1.24


TOTALE DEGLI INVESTIMENTI 1,109,766,693.47 1,169,445,749.56 92.23 Le note allegate formano parte integrante del rendiconto finanziario.

198

UBI SICAV





Stati, Province e Municipalità 0.39 Irlanda 11.57


100.00 Gran Bretagna 2.01

Austria 0.91 Germania 0.39


100.00

199

UBI SICAV




netto


Obbligazioni A2a 1.25% 17-16.03.24 3,550,000 EUR 3,537,397.50 3,551,420.00 0.94 Abbey Natl 0.875% 14-13.01.20* 3,100,000 EUR 3,145,701.52 3,149,897.48 0.84 Abbvie 0.375% 16-18.11.19 900,000 EUR 902,143.77 903,976.23 0.24 Abn Amro 1% 15-16.04.25 4,400,000 EUR 4,500,760.00 4,445,597.24 1.18 Accor 1.25% 17-25.01.24 2,600,000 EUR 2,573,410.67 2,593,551.97 0.69 Acea 1% 16-24.10.26 2,700,000 EUR 2,556,900.00 2,574,941.45 0.68 Achmea Hypo 1.125% 15-25.04.22 2,700,000 EUR 2,676,477.00 2,754,013.61 0.73 Air Liquide 1% 17-08.03.27 900,000 EUR 898,875.00 891,641.67 0.24 Allianz Se 2.241% 15-07.07.45 3,500,000 EUR 3,409,955.79 3,517,132.57 0.93 Amer Movil 1.5% 16-10.03.24 1,800,000 EUR 1,796,275.57 1,825,444.75 0.49 Amgen 1.25% 16-25.02.22 1,350,000 EUR 1,362,320.50 1,390,871.20 0.37 Apple Inc 1.625% 14-10.11.26 4,050,000 EUR 4,282,753.50 4,214,223.49 1.12 Arkema 1.5% 15-20.01.25 1,800,000 EUR 1,850,400.00 1,849,204.75 0.49 Arrfp 2.25% 14-16.01.20 1,800,000 EUR 1,908,000.00 1,894,131.00 0.50 Assgen 5.5% 15-27.10.47 2,550,000 EUR 2,779,500.00 2,840,062.50 0.75 Att 1.45% 14-01.06.22 4,400,000 EUR 4,542,252.00 4,514,285.47 1.20 Autostrade 1.625% 15-12.06.23 3,950,000 EUR 4,080,992.74 4,111,400.87 1.09 Aviva 3.375% 15-04.12.45 1,350,000 EUR 1,260,112.50 1,387,435.54 0.37 Axa 5.25% (Frn) 10-16.04.40 /Sub 1,350,000 EUR 1,490,658.75 1,511,057.69 0.40 Azimut Hldg 2% 17-28.03.22 900,000 EUR 930,919.00 928,530.00 0.25 Banco Bilba 1% 16-20.01.21 900,000 EUR 920,979.00 920,186.96 0.24 Bertelsmann 0.25% 17-26.05.21 900,000 EUR 897,219.00 894,346.23 0.24 Bfcm 2.625% 14-18.03.24 5,300,000 EUR 5,984,442.00 5,919,543.45 1.57 Bg Energy 6.5% (Frn) 12-30.11.72 1,800,000 EUR 1,914,200.00 1,844,640.00 0.49 Bk Ireland 4.25% 14-11.06.24* 1,800,000 EUR 1,815,562.50 1,899,025.27 0.50 Bmw FIn 2% 13-04.09.20 3,550,000 EUR 3,784,871.00 3,754,025.60 1.00 Bp Milan 4.25% 14-30.01.19 1,350,000 EUR 1,416,528.00 1,415,016.03 0.38 Bpce 1.125% 17-18.01.23 4,400,000 EUR 4,380,205.68 4,454,049.64 1.18 Bqe Postale 3% 16-09.06.28 1,800,000 EUR 1,845,018.00 1,927,580.38 0.51 Caixabank 1.125% 17-17.05.24 900,000 EUR 898,011.00 896,885.99 0.24 Cap Gem 0.5% 16-09.11.21 900,000 EUR 900,981.00 896,592.59 0.24 Carrefour 1.25% 15-03.06.25 3,950,000 EUR 3,976,860.00 3,995,124.92 1.06 Cassa Depo 1.5% 17-21.06.24 900,000 EUR 893,790.00 880,794.00 0.23 Cdp Reti Sr 1.875% 15-29.05.22 1,350,000 EUR 1,379,579.45 1,391,264.13 0.37 Cnp Assur 1.875% 16-20.10.22 1,800,000 EUR 1,803,372.17 1,878,327.02 0.50 Coca Cola 1.125% 15-09.03.27 2,250,000 EUR 2,251,710.00 2,231,232.77 0.59 Comzbk 1.125% 17-24.05.24 2,650,000 EUR 2,636,193.50 2,645,553.27 0.70 Cr Agr 2.625% 15-17.03.27 2,700,000 EUR 2,697,822.00 2,818,559.65 0.75 Credit Agri 1.875% 16-20.12.26 5,300,000 EUR 5,272,340.22 5,405,311.00 1.44 Crh Fin 1.375% 16-18.10.28 900,000 EUR 877,311.00 869,500.78 0.23 Daimler Ag 2% 13-07.04.20* 4,400,000 EUR 4,663,605.48 4,622,200.13 1.23 Danone 1.25% 15-30.05.24 1,800,000 EUR 1,852,200.00 1,852,992.00 0.49 Delphi Auto 1.6% 16-15.09.28* 1,350,000 EUR 1,321,498.50 1,291,972.92 0.34 Deut Tel If 1.5% 16-03.04.28 2,650,000 EUR 2,667,225.00 2,632,621.30 0.70 Dnb Bnk As 1.25% 17-01.03.27 Regs 1,350,000 EUR 1,349,784.00 1,362,082.46 0.36 Dsk Bk 0.5% 16-06.05.21 2,700,000 EUR 2,698,573.00 2,719,143.00 0.72 Dt An Fin 0.75% 17-25.01.22 4,400,000 EUR 4,395,598.24 4,417,819.96 1.17 Dvb Bank Se 1.25% 16-15.09.21 1,800,000 EUR 1,849,860.00 1,847,523.56 0.49 Easyjet Plc 1.125% 16-18.10.23* 1,750,000 EUR 1,728,342.78 1,743,878.50 0.46 Edp 5.375% 15-16.09.75* 900,000 EUR 860,875.00 988,441.17 0.26 Enagas Fin 1.375% 16-05.05.28 900,000 EUR 905,067.00 889,562.72 0.24 Enexis 0.875% 16-28.04.26 900,000 EUR 888,660.00 880,388.10 0.23 Eni 1.5% 15-02.02.26 3,100,000 EUR 3,127,900.00 3,133,092.41 0.83 Esb Fin 2.125% 15-08.06.27 900,000 EUR 949,034.00 961,597.80 0.26 Eurogrid 1.5% 16-18.04.28 900,000 EUR 917,010.00 901,670.40 0.24 Evonik Fin 0% 16-08.03.21 3,100,000 EUR 3,083,703.84 3,058,655.24 0.81 Exor S.P.A 2.125% 15-02.12.22* 900,000 EUR 902,810.28 949,607.12 0.25 Fca Bank Ie 1% 17-15.11.21 5,100,000 EUR 5,097,960.00 5,119,706.30 1.36


200

UBI SICAV




Fce Bk 1.615% 16-11.05.23 1,800,000 EUR 1,811,596.67 1,831,255.15 0.49 Fedex Corp 1% 16-11.01.23 1,300,000 EUR 1,306,196.67 1,307,269.55 0.35 Fer D Stato 1.5% 17-27.06.25 1,300,000 EUR 1,291,290.00 1,285,960.00 0.34 Fer Emsn 1.375% 17-31.03.25 Regs 1,800,000 EUR 1,787,310.00 1,798,844.38 0.48 Fil Intl 2.5% 16-04.11.26 1,350,000 EUR 1,366,942.50 1,379,430.00 0.37 Fresenius 1.5% 17-30.01.24 900,000 EUR 898,875.00 909,342.02 0.24 Galp Gas Na 1.375% 16-19.09.23 1,800,000 EUR 1,785,600.00 1,789,039.76 0.48 Ge Cap Eur 0.8% 15-21.01.22 5,300,000 EUR 5,409,180.00 5,378,031.79 1.43 General Motors 0.955% 07.09.23 1,800,000 EUR 1,782,910.00 1,741,031.98 0.46 Heathrow Fd 1.875% 14-23.05.24 1,800,000 EUR 1,927,908.00 1,912,553.96 0.51 Heidlrg 1.5% 16-07.02.25 Reg-S 1,300,000 EUR 1,286,620.11 1,315,633.79 0.35 Holcim Fin 1.375% 16-26.05.23 1,750,000 EUR 1,760,700.76 1,785,360.48 0.47 Hutch Wham 1.375% 14-31.10.21 2,250,000 EUR 2,323,800.00 2,314,746.05 0.62 Ing Groep 2.5% (Frn) 17-15.02.29 4,400,000 EUR 4,633,200.00 4,584,007.96 1.22 Intesa San 0.875% 17-27.06.22 1,300,000 EUR 1,293,942.00 1,300,650.00 0.35 Intesa San 6.625% 08.05.18 Emtn 3,100,000 EUR 3,306,415.53 3,252,830.00 0.86 Intesa San 6.625% 13-13.09.23 Emtn 1,750,000 EUR 2,160,025.00 2,147,439.00 0.57 Is Vita 5.35% 13-18.09.18 /Sub 900,000 EUR 965,250.00 952,687.82 0.25 Italgas 0.5% 17-19.01.22 Regs 1,300,000 EUR 1,298,375.00 1,295,669.71 0.34 Italy 1.25% 16-01.12.26 /Btp* 4,400,000 EUR 4,320,190.21 4,109,718.89 1.09 Itv 2% 16-01.12.23 1,350,000 EUR 1,383,304.51 1,374,281.09 0.37 Johnson Ctl 1% 17-15.09.23 1,750,000 EUR 1,744,662.50 1,728,741.04 0.46 Kbc 0.75% 16-18.10.23 900,000 EUR 882,810.90 890,244.00 0.24 Kellogg Co 1% 16-17.05.24 2,700,000 EUR 2,685,771.00 2,669,651.97 0.71 Kering 1.375% 14-01.10.21 900,000 EUR 923,020.97 937,440.04 0.25 Koninklijke 1.125% 16-11.09.28 2,600,000 EUR 2,538,677.56 2,451,540.03 0.65 Liberty Mut 2.75% 16-04.05.26 2,700,000 EUR 2,708,843.10 2,882,336.32 0.77 Linde Finance 1% 16-20.04.28 2,200,000 EUR 2,157,584.00 2,166,779.96 0.58 Lloyds Bk 1% 16-09.11.23 4,400,000 EUR 4,362,780.31 4,394,015.91 1.17 Mapfre 1.625% 16-19.05.26 900,000 EUR 911,475.00 901,808.07 0.24 Mcdonalds 1.125% 15-26.05.22 900,000 EUR 927,779.40 920,673.86 0.24 Mediobanca 0.75% 17-17.02.20 1,800,000 EUR 1,807,200.00 1,814,216.45 0.48 Metrovacesa 2.375% 16-23.05.22 900,000 EUR 945,242.50 950,342.37 0.25 Mol 2.625% 16-28.04.23 1,750,000 EUR 1,835,750.00 1,855,000.00 0.49 Mor St 1% 16-02.12.22 5,300,000 EUR 5,311,945.38 5,331,704.49 1.42 Nn Group 1% 15-18.03.22 1,800,000 EUR 1,829,430.00 1,822,933.82 0.48 Nordea Bank 2% 14-17.02.21 3,100,000 EUR 3,328,532.00 3,293,297.31 0.87 Nykredit 0.75% 16-14.07.21 1,350,000 EUR 1,359,990.00 1,355,848.16 0.36 Partnerre 1.25% 16-15.09.26 1,750,000 EUR 1,705,802.89 1,669,650.50 0.44 Peugeot 2% 17-23.03.24 Regs 3,100,000 EUR 3,100,000.00 3,139,766.77 0.83 Pohjola Bk 0.75% 15-03.03.22 2,700,000 EUR 2,708,030.00 2,730,645.05 0.73 Pricelineco 0.8% 17-10.03.22 1,800,000 EUR 1,796,184.00 1,792,954.75 0.48 Pubfp 1.125% 14-16.12.21 1,800,000 EUR 1,819,690.00 1,846,188.04 0.49 Rabobk 6.875% 10-19.03.20 5,300,000 EUR 6,272,424.19 6,219,550.00 1.65 Rbs Grp 2.5% 16-22.03.23* 1,350,000 EUR 1,348,095.47 1,433,308.47 0.38 Rci Bq 0.5% 16-15.09.23 2,650,000 EUR 2,537,089.50 2,565,650.53 0.68 Saipem Fin 3% 16-08.03.21 1,350,000 EUR 1,420,875.00 1,378,579.46 0.37 Sampo Bk 1% 16-18.09.23 1,300,000 EUR 1,309,698.00 1,294,538.74 0.34 San Con 0.9% 15-18.02.20 5,300,000 EUR 5,309,300.36 5,397,096.05 1.43 Santander 1.375% 17-09.02.22 Regs 2,600,000 EUR 2,643,643.70 2,663,497.20 0.71 Scor Se 3.625% 16-27.05.48 900,000 EUR 974,250.00 974,250.00 0.26 Seb Frn 07-Perp 1,750,000 EUR 1,887,204.86 1,805,650.00 0.48 Shb 2.656% 14-15.01.24 5,300,000 EUR 5,500,973.21 5,478,705.56 1.46 Socgen 0.75% 16-19.02.21 3,500,000 EUR 3,569,475.00 3,557,515.61 0.95 Socgen 1% 16-01.04.22 3,500,000 EUR 3,492,335.00 3,543,133.97 0.94 Solvay Fin 5.118% 15-Perp 1,750,000 EUR 1,703,262.50 1,949,937.55 0.52 St Gobain 3.625% 12-15.06.21 1,350,000 EUR 1,532,250.00 1,520,569.85 0.40 Statoil 0.875% 15-17.02.23 1,800,000 EUR 1,840,842.00 1,824,328.82 0.48 Swiss Re Ad 1.375% 16-27.05.23 3,100,000 EUR 3,110,860.19 3,188,315.90 0.85 Swisscom Ag 1.875% 14-08.09.21 1,350,000 EUR 1,448,280.00 1,430,033.37 0.38 Telecom It 2.5% 17-19.07.23 1,800,000 EUR 1,787,184.00 1,894,903.20 0.50


201

UBI SICAV




Tennet 2.995% (Frn) 17-Perp Regs 1,350,000 EUR 1,372,140.00 1,383,750.00 0.37 Terna 0.875% 15-02.02.22 1,350,000 EUR 1,374,030.00 1,369,526.45 0.36 Thermo Fish 1.375% 16-12.09.28 900,000 EUR 868,536.00 855,486.90 0.23 Total Infra 2.2% 15-05.08.25 900,000 EUR 927,631.29 956,342.70 0.25 Total Sa 2.25% 15-Perp* 1,800,000 EUR 1,661,100.00 1,821,920.33 0.48 Toyota 0.75% 15-21.07.22 2,650,000 EUR 2,706,850.00 2,690,279.92 0.71 Ubs Group F 1.75% 15-16.11.22 3,450,000 EUR 3,650,616.00 3,630,942.08 0.96 Unibail Rod 1.5% 17-29.05.29 1,750,000 EUR 1,746,955.00 1,734,523.02 0.46 Unicredit 2.125% 16-24.10.26 3,150,000 EUR 3,124,108.77 3,235,843.71 0.86 Unicredit 6.95% 31.10.22 Emtn 2,250,000 EUR 2,615,625.00 2,713,814.96 0.72 Ups 1% 16-15.11.28 900,000 EUR 880,470.00 863,328.60 0.23 Valeo Sa 0.625% 17-11.01.23 900,000 EUR 902,061.00 896,279.41 0.24 Verizon Com 1.625% 14-01.03.24 2,600,000 EUR 2,663,035.56 2,656,945.23 0.71 Vodafone 2.2% 16-25.08.26 2,700,000 EUR 2,721,510.00 2,865,509.92 0.76 Wells Fargo 1.5% 15-12.09.22 4,400,000 EUR 4,581,642.33 4,572,172.09 1.21

307,267,695.85 308,837,126.14 82.00

Azioni Abb Ltd Zuerich /Namen. 122,000 CHF 1,973,120.20 2,644,600.13 0.70 Amgen Inc 15,000 USD 2,072,097.48 2,264,793.55 0.60 Apple Inc 22,000 USD 2,047,548.88 2,777,627.77 0.74 China Mobile Limited /Sadr 49,000 USD 2,464,233.15 2,280,538.27 0.61 Cie Financiere Richemont Nam-Ak 40,000 CHF 2,368,360.88 2,892,714.47 0.77 Cisco Systems Inc 85,000 USD 1,963,968.55 2,332,339.79 0.62 Colgate-Palmolive Co. 39,000 USD 2,369,474.97 2,534,470.06 0.67 Eni Spa Roma 164,000 EUR 2,140,825.15 2,158,240.00 0.57 Express Scripts Holding Co 33,000 USD 2,109,840.41 1,846,865.96 0.49 Exxon Mobil Corp 29,000 USD 2,147,808.80 2,052,397.65 0.54 Gaz De France 206,000 EUR 2,698,346.36 2,722,290.00 0.72 General Electric Co 81,000 USD 2,195,071.72 1,917,953.89 0.51 Gilead Sciences Inc 50,000 USD 3,819,040.78 3,102,480.93 0.82 Halliburton Co 47,000 USD 1,557,433.61 1,759,770.32 0.47 Intel Corp 70,000 USD 2,000,622.75 2,070,483.04 0.55 Merck 38,000 USD 1,875,971.14 2,135,022.35 0.57 Microsoft Corp 41,000 USD 2,066,887.64 2,477,540.11 0.66 Novartis Ag Basel /Nam. 36,000 CHF 2,462,901.26 2,629,807.01 0.70 Procter & Gamble Co 31,000 USD 2,341,609.57 2,368,414.13 0.63 Roche Holding Ag /Genussschein 11,000 CHF 2,463,238.92 2,458,990.39 0.65 Total Sa* 52,000 EUR 2,091,571.98 2,250,820.00 0.60 Unilever Cert. of Shs 64,000 EUR 2,505,745.38 3,092,480.00 0.82 United Technologies Corp 24,000 USD 2,039,665.00 2,569,159.29 0.68

51,775,384.58 55,339,799.11 14.69




202

UBI SICAV






Assicurazioni

Comunicazioni

Petrolio

Servizi Pubblici Industria Automobilistica

Cibo e bevande


Trasporti



Biotecnologia

Beni di consumo



Retail

Tecnologia

Aerospaziale Varie

Intrattenimento






Chimica

Altri servizi



14.84 Francia

6.14 Italia

5.29 Paesi bassi

5.05 Gran Bretagna

4.40 Irlanda

2.64 Germania

2.61 Spagna

2.48 Svizzera

2.36 Svezia

2.16 Jersey

1.88 Danimarca

1.79 Finlandia

1.76 Norvegia

1.38 Portogallo

1.32 Isole Cayman

1.31 Hong Kong

1.19 Ungheria

1.09 Messico

0.93 Lussemburgo

0.78 Bermuda

0.75 Belgio


0.73

0.70

0.49

0.24

3.31

19.59

16.69

13.06

11.96

6.77

5.30

4.18

3.83

3.78

2.81

1.70

1.08

1.07

0.84

0.74

0.62

0.61

0.49

0.49

0.47

0.37

0.24

3.31

100.00

100.00

203

UBI SICAV




netto


Obbligazioni Italy 3.75% 13-01.05.21 /Btp 34,750,000 EUR 39,397,751.20 39,047,289.95 4.49 Italy 4.25% 09-01.09.19 10,047,000 EUR 11,099,677.12 10,958,966.49 1.26 Italy 5% 09-01.03.25 Btp 7,400,000 EUR 9,572,484.00 9,141,345.80 1.05 Italy 5% 09-01.09.40 /Btp 1,600,000 EUR 2,318,608.00 2,073,430.42 0.24 Usa 2.375% 10-31.07.17 Tbo 4,500,000 USD 4,314,978.60 3,949,723.18 0.46

66,703,498.92 65,170,755.84 7.50

Fondi d’Investimento A G7-10 UcEtf -C- Eur 20,700 EUR 5,147,927.02 5,176,863.00 0.60 A Gr 3-5 Us Etf - Parts C 35,550 EUR 7,117,054.42 7,103,956.50 0.82 Ag 10-15 U Etf -C- Eur 34,370 EUR 9,250,168.82 9,263,746.10 1.07 Am Etf Pac Jap Fcp 9,229 EUR 4,327,010.26 4,434,626.79 0.51 Amundi Etf Msci Em Mk -A- 3,867,620 EUR 14,057,887.08 14,662,147.42 1.69 Amundi Etf St600 Ucits -Eur- /Dis 312,525 EUR 22,952,661.32 24,142,556.25 2.78 Amundi Gr 1-3 Uc Etf 30,680 EUR 5,209,833.15 5,193,817.20 0.60 Amundi Gr 5-7 Uc Etf -C Eur 22,470 EUR 5,152,479.83 5,149,674.60 0.59 Blackrock Ir-Ish Msci Fe Ex-Jp 321,721 EUR 13,292,818.43 14,596,481.77 1.68 Cs Etf Eur 1-3 /Eur 46,540 EUR 5,211,304.25 5,219,461.00 0.60 Cs Etf Msci Pac Ex Japan Usd 24,766 EUR 2,818,492.62 2,887,467.94 0.33 Cs Etf S&P 500 /Usd 69,778 EUR 14,238,628.42 14,153,071.74 1.63 Db X Tracker Msci Ap Ex Jp 91,672 EUR 4,334,310.66 4,444,258.56 0.51 Dbx Hy Bond Eur -1c- /Cap 1,336,195 EUR 24,089,647.37 23,837,718.80 2.74 Dbxt Es50 — Shs -Ic- Cap 389,039 EUR 28,379,337.64 30,029,920.41 3.46 Dbxt Ftse Mib - Shs -1d- Dis 29,100 EUR 562,212.00 618,957.00 0.07 Dbxt Msci Em Shs -1c- Cap 300,960 EUR 10,537,048.77 11,000,088.00 1.27 Dbxt Msci Jap Shs -1c- Cap 114,513 EUR 5,558,408.54 5,518,381.47 0.63 Dbxt2 Iese13Tr -1C- /Cap. /Etf 16,830 EUR 2,858,284.05 2,851,170.30 0.33 Dbxt2 Iese35Tr -1C- /Cap /Etf 35,010 EUR 7,073,224.83 7,065,018.00 0.81 Dbxt2 Ise57 -1c- Cap 22,250 EUR 5,172,843.68 5,174,237.50 0.59 Dbxt2 Ise710 -1c- Cap 20,350 EUR 5,146,825.29 5,181,517.00 0.60 Dj Stoxx 600 -A- Etf Eur 337,413 EUR 24,276,232.55 25,747,986.03 2.96 Ishare Eu Govt Bond 7-10 Etf 20,330 EUR 4,214,917.28 4,218,881.60 0.49 Ishares Bar Em Etf Usd /Dis 529,000 EUR 31,080,905.22 30,576,200.00 3.52 Ishares Bc Eur Cor /Dis 108,570 EUR 14,008,784.95 14,079,357.60 1.62 Ishares Bc Eur Gvt Bd /Dis 46,500 EUR 10,579,122.78 10,401,585.00 1.20 Ishares Gl High Yld Crp Bd Usd Etf 488,712 USD 44,063,315.27 42,406,166.18 4.88 Ishares Mark Ibox /Exch Tr Eur 89,002 EUR 9,440,155.86 9,524,104.02 1.10 Ishares Msci Japan 591,584 EUR 7,103,693.44 7,030,975.84 0.81 Ishares Plc-Usd Corp Bond 594,822 EUR 62,960,762.36 60,314,950.80 6.94 Ishares Stoxx Europe 600 (De) 909,459 EUR 33,334,691.35 34,304,793.48 3.95 Ishares Usd Hgh Yd Etf-Usd /Dis 352,261 USD 34,626,905.79 32,419,005.68 3.73 Ishares Vi Glb Cor-Usd Etf 522,980 USD 45,894,696.73 45,026,620.32 5.18 Ishesb 30-15 (De) Anteile 96,810 EUR 1,001,402.64 1,259,014.05 0.14 Ishs Bar Gvt Eur Shs Eur 36,310 EUR 5,234,982.30 5,241,348.50 0.60 Ishs Glb Gov Bd Etf -Usd- /Dis 661,580 EUR 64,818,784.80 61,956,967.00 7.13 Ishs Iboxx Usd Igcb - Shs 145,094 USD 15,948,065.06 15,328,550.84 1.76 L UEtf EmMkts /PartsC Eurcap 1,148,370 EUR 10,566,620.09 10,989,900.90 1.26 L Uc Etf Fts Mib 3d Cap /Dis 30,700 EUR 565,380.41 629,749.10 0.07 L Ucits 3-5y Inv Gr Act Cap 46,540 EUR 7,115,562.27 7,117,362.20 0.82 Lyxor Etf Eurost Bks -C- Eur 12,210 EUR 997,478.86 1,363,002.30 0.16 Mul Ly E57y Ing -C- Eur- Cap Etf 32,270 EUR 5,146,608.11 5,145,774.20 0.59 Mul Ly E710y Ig -C- Eur /Cap 30,470 EUR 5,144,626.79 5,175,082.69 0.60 Mul Ly Sp500 D Shs 517,234 EUR 11,597,772.84 11,266,649.61 1.30 Mul. Un Fr-Lyx Euro 1-3Y /Cap /Dis 41,280 EUR 5,215,466.70 5,195,500.80 0.60 Ssga Bar Cor Bd /Gbp-Etf 27,370 EUR 1,943,451.63 1,923,016.20 0.22 Ssga Bar Emg Mk /Ex. Trad. Fd Usd 465,000 USD 31,098,156.12 30,540,720.61 3.51 Ssga Spdr S&P 500 Etf Dis 42,156 USD 9,327,185.96 8,963,000.51 1.03 Ubi Euro Hy -I- Cap* 1,400,000 EUR 7,000,000.00 7,005,600.00 0.81

* Investimento in comparti incrociati, cfr. Nota 16, per ulteriori dettagli.


UBI SICAV




Ubi It Mc Eq -I- Cap* 400,000 EUR 2,000,000.00 1,972,400.00 0.23 Ubs Etf Msci Jap A Dis 140,974 EUR 5,339,100.88 5,270,312.99 0.61 Vang S&P 500 Ptf -Usd- /Dis 19,000 GBP 772,114.13 766,446.45 0.09

714,905,351.62 710,866,162.85 81.82





3,000,000.00 2,952,891.00 0.34


TOTALE DEGLI INVESTIMENTI 784,608,850.54 778,989,809.69 89.66 * Investimento in comparti incrociati, cfr. Nota 16, per ulteriori dettagli.


UBI SICAV







100.00 Italia 7.38

Germania 4.09 Stati Uniti d’America 2.22


100.00

206

UBI SICAV




netto


Obbligazioni Ab Inbev 2% 16-17.03.28 6,500,000 EUR 6,813,355.00 6,787,202.70 0.29 Ab Inbev 2.75% 16-17.03.36 2,500,000 EUR 2,699,555.00 2,656,182.48 0.11 Abn Amro 2.875% 15-30.06.25 12,000,000 EUR 12,521,110.00 12,659,591.64 0.54 Aib 2.75% 14-16.04.19 2,500,000 EUR 2,629,610.00 2,611,300.08 0.11 Aib 4.125% 15-26.11.25 4,000,000 EUR 3,937,726.67 4,255,000.00 0.18 Aig 1.5% 16-08.06.23 6,000,000 EUR 6,011,820.01 6,092,568.06 0.26 Air Prod & Ch 0.375% 16-01.06.21 8,000,000 EUR 7,992,820.00 8,013,600.00 0.34 Allergan Fd 0.5% 17-01.06.21 5,000,000 EUR 4,976,850.00 4,990,055.10 0.21 Allianz Se 2.241% 15-07.07.45 5,000,000 EUR 4,876,608.00 5,024,475.10 0.22 Altice Fin 5.25% 15-15.02.23 5,000,000 EUR 5,343,250.00 5,295,000.10 0.23 Amer Movil 5.125% (Frn) 06.09.73 7,000,000 EUR 7,387,499.99 7,360,500.14 0.32 American Tc 1.375% 17-04.04.25 5,000,000 EUR 4,979,740.00 4,920,769.90 0.21 Amex Cr 0.625% 16-22.11.21 6,000,000 EUR 6,050,310.00 6,027,294.18 0.26 Amgen 1.25% 16-25.02.22 2,000,000 EUR 2,047,400.00 2,060,549.92 0.09 Amgen 2% 16-25.02.26 2,000,000 EUR 2,125,140.00 2,119,142.00 0.09 Anglo Amer 1.5% 15-01.04.20 8,000,000 EUR 8,061,134.12 8,152,160.00 0.35 Anglo Amer 2.5% 13-29.04.21 5,000,000 EUR 4,714,186.84 5,255,834.95 0.22 Arcelormit 2.875% 14-06.07.20 4,000,000 EUR 4,221,350.00 4,267,240.00 0.18 Areva 3.125% 14-20.03.23 4,000,000 EUR 3,592,250.00 4,086,640.00 0.17 Areva 3.25% 13-04.09.20 4,000,000 EUR 4,092,500.00 4,158,800.04 0.18 Areva 4.375 09-06.11.19 2,000,000 EUR 2,113,300.00 2,134,499.96 0.09 Arion 1.625% 16-01.12.21 4,000,000 EUR 4,009,960.00 4,078,728.04 0.17 Arr Gbl Fin Frn 17-01.04.25 4,000,000 EUR 3,992,300.00 4,010,800.00 0.17 Arrfp 1.125% 16- 09.01.26 3,000,000 EUR 2,981,565.00 2,985,623.94 0.13 Arrfp 1.875% 14-15.01.25 2,000,000 EUR 2,115,920.00 2,121,390.08 0.09 Asml Hldg 1.625% 16-28.05.27 3,000,000 EUR 3,005,220.00 3,016,715.94 0.13 Asr 5.125% 15-29.09.45 4,000,000 EUR 4,562,000.00 4,501,792.00 0.19 Assgen 4.125% 14-04.05.26 3,500,000 EUR 3,754,250.00 3,782,981.90 0.16 Assgen 7.75% 12-12.12.42 /Sub 7,500,000 EUR 8,951,300.00 9,279,075.08 0.40 Astrazeneca 0.25% 16-12.05.21 5,000,000 EUR 4,981,840.00 4,981,639.85 0.21 At&T Inc 1.8% 17-04.09.26 7,200,000 EUR 7,188,120.00 7,132,320.00 0.31 At&T Inc 2.45% 15-15.03.35 3,000,000 EUR 2,956,500.00 2,758,271.94 0.12 Atalia 4% 17-15.05.24 2,000,000 EUR 2,011,000.00 2,070,000.00 0.09 Atf Netherl 2.125% 16-13.03.23 4,000,000 EUR 4,079,735.00 4,123,439.96 0.18 Att 1.45% 14-01.06.22 3,000,000 EUR 3,117,900.00 3,077,921.91 0.13 Att 2.5% 13-15.03.23 4,000,000 EUR 4,336,400.00 4,302,511.92 0.18 Att 2.6% 14-17.12.29 2,000,000 EUR 2,110,000.00 2,020,516.06 0.09 Aurizon Net 3.125% 16-01.06.26 4,000,000 EUR 4,069,770.00 4,404,671.92 0.19 Autostrade 1.625% 15-12.06.23 5,000,000 EUR 5,167,715.00 5,204,304.90 0.22 Avis 4.5% 17-15.05.25 Regs 5,000,000 EUR 4,815,100.00 4,899,160.00 0.21 Aviva 0.625 16-27.10.23 3,000,000 EUR 2,952,840.00 2,937,986.97 0.13 Aviva 3.875% 14-03.07.44 2,500,000 EUR 2,691,125.00 2,684,399.98 0.11 Aviva Plc 6.125% 03-Perp 3,000,000 GBP 3,781,769.60 3,829,048.82 0.16 Axa 4.5% 16-Perp 5,000,000 USD 4,335,313.59 4,216,051.46 0.18 Axa Frn 13-04.07.43/Ftf 3,000,000 EUR 3,600,870.00 3,556,092.00 0.15 Azimut Hldg 2% 17-28.03.22 3,000,000 EUR 3,045,320.00 3,095,100.00 0.13 Bafc 0.736% 17-07.02.22 Regs 6,000,000 EUR 6,000,512.25 6,019,134.06 0.26 Bafc Frn 17-04.05.23 Regs 4,000,000 EUR 4,007,200.00 4,006,000.00 0.17 Ball Corp 4.375% 15-15.12.23 4,000,000 EUR 4,475,500.00 4,525,000.00 0.19 Banco Bilba Frn 17-12.04.22 6,000,000 EUR 6,000,000.00 6,048,600.00 0.26 Banco Pop 2.75% 15-27.07.20 7,000,000 EUR 7,127,939.99 7,221,424.00 0.31 Banco Pop 3.5% 14-14.03.19 6,000,000 EUR 6,194,450.00 6,226,680.00 0.27 Bankia 4% 14-22.05.24 10,000,000 EUR 10,300,807.43 10,370,600.10 0.44 Bankinter 2.5% 17-06.04.27 Regs 4,000,000 EUR 3,984,040.00 4,036,104.12 0.17 Barclays 1.875% 16-08.12.23 Regs 4,000,000 EUR 4,025,292.40 4,144,975.88 0.18 Barclays 1.875% 16-23.03.21 5,000,000 EUR 5,189,010.00 5,220,589.85 0.22 Barclays 2.625% 15-11.11.25 3,000,000 EUR 2,826,300.00 3,086,046.06 0.13 Barry Calbt 2.375% 16-24.05.24 3,000,000 EUR 3,055,560.00 3,141,354.00 0.13 Bat Intl 0.875% 15-13.10.23 4,000,000 EUR 3,993,200.00 3,934,451.92 0.17 Bayer Ag 2.375% 15-02.04.75 5,000,000 EUR 4,792,037.50 5,039,600.00 0.22


UBI SICAV




Bayer Ag 3% 14-01.07.75 6,000,000 EUR 6,175,500.00 6,238,308.12 0.27 Bca Pop Der 5.125% 17-31.05.27 6,000,000 EUR 6,000,000.00 6,150,000.00 0.26 Becton Dick 1.9% 16-15.12.26 4,000,000 EUR 3,976,090.00 3,967,560.12 0.17 Belden Inc 3.375% 17-15.07.27 3,300,000 EUR 3,300,000.00 3,297,030.00 0.14 Bfcm 3% 14-21.05.24 2,500,000 EUR 2,673,622.50 2,705,934.90 0.12 Bhp Finance 5.625% 15-22.10.79 3,000,000 EUR 3,519,000.00 3,499,619.97 0.15 Bk Ireland 4.25% 14-11.06.24 8,000,000 EUR 8,259,700.00 8,440,112.32 0.36 Bmbg Bond 3% 16-15.06.21 5,000,000 EUR 5,149,500.00 5,143,484.90 0.22 Bmps 3.625% 14-01.04.19 4,000,000 EUR 3,906,999.99 4,095,039.96 0.18 Bmw Fin 0.125% 17-12.01.21 7,000,000 EUR 6,984,550.00 6,977,417.93 0.30 Bnpp 1.125% 17-10.10.23 Regs 5,000,000 EUR 4,978,950.00 5,027,724.85 0.22 Bnpp 2.375% 15-17.02.25 3,000,000 EUR 3,128,220.00 3,109,031.97 0.13 Bnpp 2.875% 14-20.03.26 6,000,000 EUR 6,210,000.00 6,359,903.88 0.27 Bnpp Paribas 4.032% 14-Perp 2,000,000 EUR 1,907,800.00 2,133,831.94 0.09 Bpce 1.125% 17-18.01.23 6,000,000 EUR 5,990,055.00 6,073,704.06 0.26 Bpce 2.75% 14-08.07.26 2,000,000 EUR 2,118,600.00 2,103,067.94 0.09 Brisa C Rod 2.375% 17-10.05.27 5,000,000 EUR 5,036,340.00 5,048,000.00 0.22 Brit Sky Br 1.875% 14-24.11.23 6,500,000 EUR 6,727,680.00 6,808,555.13 0.29 Brit Sky Br 2.25% 15-17.11.25 3,000,000 EUR 3,127,660.00 3,172,565.91 0.14 Britel 1.5% 17-23.06.27 2,500,000 EUR 2,479,575.00 2,441,500.00 0.10 Britel 1.75% 16-10.03.26 6,000,000 EUR 6,171,150.00 6,109,379.88 0.26 Bul Energy 4.25% 07.11.18 3,000,000 EUR 3,138,750.00 3,123,479.91 0.13 Bul Energy 4.875% 16-02.08.21 6,000,000 EUR 6,160,985.00 6,480,000.00 0.28 Burger King 6% 17-01.05.24 Regs 3,000,000 EUR 3,000,000.00 3,187,500.00 0.14 Burver 1.25% 16-07.09.23 3,500,000 EUR 3,472,970.00 3,492,650.00 0.15 Buz Unicem 2.125% 16-28.04.23 7,500,000 EUR 7,668,375.00 7,874,760.23 0.34 Caixabank 1.125% 17-17.05.24 1,600,000 EUR 1,596,464.00 1,594,463.98 0.07 Caixabank 3.5% 17-15.02.27 4,000,000 EUR 4,012,005.00 4,177,143.84 0.18 Casino Gp 1.865% 13.06.22 Regs 5,000,000 EUR 5,000,000.00 5,047,500.00 0.22 Casino Gp 2.798% 14-05.08.26 6,000,000 EUR 6,336,800.00 6,457,140.18 0.28 Casino Gp 3.248% 14-07.03.24 3,300,000 EUR 3,719,100.00 3,695,521.40 0.16 Casino Gp 5.98% 11-26.05.21 6,000,000 EUR 6,978,750.00 7,081,500.12 0.30 Cdp Reti Sr 1.875% 15-29.05.22 5,000,000 EUR 5,149,700.00 5,152,830.10 0.22 Celanese Us 1.125% 16-26.09.23 5,500,000 EUR 5,473,690.00 5,414,409.11 0.23 Cellnex Tel 2.375% 16-16.01.24 7,000,000 EUR 6,973,125.00 7,166,292.21 0.31 Cetin Finan 1.423% 16-06.12.21 5,000,000 EUR 5,050,610.00 5,127,080.15 0.22 Cfcm 3.25% 16-01.06.26 2,000,000 EUR 1,999,320.00 2,147,200.02 0.09 Cfcm1.25% 17-31.05.24 5,000,000 EUR 4,968,150.00 4,966,500.00 0.21 Chorus Ltd Frn 16-18.10.23 5,500,000 EUR 5,475,510.00 5,467,627.00 0.23 Citigroup I 1.375% 14-27.10.21 9,000,000 EUR 9,342,825.00 9,325,386.18 0.40 Cloverie Frn 09-24.07.39 3,000,000 EUR 3,465,000.00 3,427,500.00 0.15 Cnh Ind Fin 2.75% 14-18.03.19 9,000,000 EUR 9,345,650.00 9,369,431.73 0.40 Cnh Ind Fin 2.875% 16-17.05.23 3,500,000 EUR 3,548,825.00 3,772,110.90 0.16 Cnp Assur 1.875% 16-20.10.22 2,000,000 EUR 1,998,306.67 2,087,030.02 0.09 Cnp Assur 6% 10-14.09.40 3,000,000 EUR 3,379,500.00 3,452,639.91 0.15 Cod Fin 2 6.75% 16-01.11.21 5,000,000 EUR 5,045,600.00 5,125,000.00 0.22 Com Plastic 1.25% 17-26.06.24 4,000,000 EUR 3,974,520.00 3,930,000.00 0.17 Comzbk 1.125% 17-24.05.24 5,000,000 EUR 4,973,950.00 4,991,609.95 0.21 Comzbk 1.5% 15-21.09.22 8,000,000 EUR 8,302,000.00 8,313,159.76 0.36 Comzbk 4% 17-30.03.27 2,000,000 EUR 2,019,606.77 2,148,412.02 0.09 Contourglob 5.125% 16-15.06.21 4,500,000 EUR 4,768,000.00 4,734,900.05 0.20 Cr Agr 7.825% (Frn) 09-Perp 8,000,000 EUR 9,335,000.00 9,261,600.00 0.40 Crdt Agr As 4.25% 15-Perp 2,000,000 EUR 1,938,555.56 2,135,200.04 0.09 Crdt Agr AS 4.5% 14-Perp 3,000,000 EUR 3,235,500.00 3,236,250.00 0.14 Credit Agri 1.875% 16-20.12.26 9,000,000 EUR 9,004,330.00 9,178,830.00 0.39 Crh Fin 1.375% 16-18.10.28 4,000,000 EUR 3,947,660.00 3,864,447.92 0.17 Criteria 1.5% 17-10.05.23 Regs 3,000,000 EUR 2,999,400.00 2,967,084.06 0.13 Crwn Eu Hld 2.625% 16-30.09.24 5,000,000 EUR 4,937,650.00 5,050,000.00 0.22 Cs 5.75% (Frn) 13-18.09.25 Regs 8,000,000 EUR 8,818,400.00 9,016,800.00 0.39 Cs Gr Fund 1.25% 15-14.04.22 5,000,000 EUR 5,068,170.00 5,103,500.00 0.22 Delphi Auto 1.5% 15-10.03.25 7,000,000 EUR 7,027,570.00 6,955,871.86 0.30 Deut Bk 1.5% 17-20.01.22 6,000,000 EUR 6,028,510.00 6,143,490.12 0.26 Deut Bk Frn 17-16.05.22 4,000,000 EUR 3,990,000.00 4,003,600.00 0.17


UBI SICAV




Deut Tel If 0.875% 17-30.01.24 5,000,000 EUR 4,996,330.00 5,001,940.15 0.21 Deut Tel If 1.5% 16-03.04.28 4,000,000 EUR 4,078,880.00 3,973,768.00 0.17 Dnb Bank As 3% 13-26.09.23 2,000,000 EUR 2,075,200.00 2,064,700.02 0.09 Dnb Bnk As 1.25% 17-01.03.27 Regs 4,000,000 EUR 3,993,040.00 4,035,799.88 0.17 Dong Energy 3% Perp 14,000,000 EUR 14,512,550.00 14,602,000.42 0.62 Dsk Bk 2.75% 14-19.05.26 3,000,000 EUR 3,149,400.00 3,197,955.09 0.14 Dsk Bk 3.875% (Frn) 13-04.10.23 5,000,000 EUR 5,261,570.00 5,215,689.85 0.22 Dt An Fin 1.25% 16-06.12.24 Regs 2,000,000 EUR 1,998,820.00 1,995,372.00 0.09 Dt An Fin 2.25% 15-15.12.23 4,000,000 EUR 4,315,110.00 4,288,659.96 0.18 Dt An Fin 4% /Ftf 14-Perp 4,000,000 EUR 4,184,000.00 4,302,688.00 0.18 Dt An Fin 4.625% 14-08.04.74 6,000,000 EUR 6,332,800.00 6,349,319.94 0.27 Dufry Fin 4.5% 15-01.08.23 10,500,000 EUR 11,254,666.66 11,195,625.00 0.48 Edf Frn 2013 Perp /Ftf Emtn 4,000,000 EUR 3,975,000.00 4,416,199.96 0.19 Edp 5.375% 15-16.09.75 4,000,000 EUR 3,980,000.00 4,393,071.88 0.19 Edp Fin Bv 1.125% 16-12.02.24 3,000,000 EUR 2,921,250.00 2,928,240.06 0.13 Edp Fin Bv 4.125% 13-20.01.21 5,000,000 EUR 5,620,000.00 5,613,774.85 0.24 Elm Bv 3.375% 17-29.09.47 Regs 3,000,000 EUR 3,037,880.00 3,165,149.91 0.14 Enbw 3.375% 16-05.04.77 3,000,000 EUR 2,996,675.00 3,144,846.03 0.13 Enel 5% 14-15.01.75 17,000,000 EUR 18,103,360.00 18,431,196.00 0.79 Energa 2.125% 17-07.03.27 5,000,000 EUR 4,959,580.00 4,961,500.00 0.21 Eni 1.5% 17-17.01.27 3,500,000 EUR 3,487,395.00 3,481,733.64 0.15 Eni 1.625% 16-17.05.28 5,000,000 EUR 4,936,600.00 4,971,284.85 0.21 Esb Fin 1.875% 16-14.06.31 2,500,000 EUR 2,513,875.00 2,553,655.05 0.11 Evonik Ind 2.125% 17-07.07.77 4,000,000 EUR 3,975,320.00 3,992,400.00 0.17 Exor S.P.A 2.125% 15-02.12.22 2,500,000 EUR 2,605,000.00 2,637,797.55 0.11 Exor S.P.A 2.5% 14-08.10.24 1,500,000 EUR 1,554,900.00 1,579,303.55 0.07 Faurecia 3.125% 15-15.06.22 3,000,000 EUR 3,118,500.00 3,098,220.06 0.13 Faurecia 3.625% 16-15.06.23 7,000,000 EUR 7,223,880.00 7,352,169.86 0.31 Fca Bank Ie 1% 17-15.11.21 5,000,000 EUR 4,989,780.00 5,019,319.90 0.21 Fcc Aqualia 2.629% 17-08.06.27 14,000,000 EUR 14,000,000.00 13,967,800.00 0.60 Fce Bk 0.869% 17-13.09.21 5,000,000 EUR 5,006,280.00 4,994,060.15 0.21 Fce Bk 1.615% 16-11.05.23 4,000,000 EUR 4,025,123.64 4,069,455.88 0.17 Ferrari 1.5% 16-16.03.23 8,000,000 EUR 8,185,950.00 8,073,600.00 0.35 Fga Cap Ie 1.25% 16-21.01.21 6,500,000 EUR 6,531,735.00 6,617,103.87 0.28 Fga Cap Ie 1.375% 15-17.04.20 1,000,000 EUR 1,018,600.00 1,023,679.96 0.04 Fiat 1.375% 17-23.05.22 7,000,000 EUR 6,953,450.00 7,055,719.86 0.30 Fiat Ft 4.75% 14-22.03.21 10,000,000 EUR 11,003,130.00 11,019,999.70 0.47 Fiat Ft 6.625% 13-15.03.18 15,000,000 EUR 16,190,500.01 15,628,500.00 0.67 Fiat Invest 3.75% 16-29.03.24 11,000,000 EUR 11,325,170.00 11,606,100.22 0.50 Fil Intl 2.5% 16-04.11.26 4,000,000 EUR 4,008,810.00 4,087,200.00 0.17 Finmec Fin 5.25% 09-21.01.22 4,000,000 EUR 4,744,700.00 4,746,964.12 0.20 Finmec Fnce 4.5% 13-19.01.21 10,000,000 EUR 11,334,300.00 11,287,670.10 0.48 Finmeccan 1.5% 17-07.06.24 3,000,000 EUR 2,974,410.00 2,961,900.00 0.13 Fonciere Re 1.875% 16-20.05.26 3,000,000 EUR 2,992,140.00 3,081,732.09 0.13 Fresenius 0.875% 31.01.22 Regs 4,000,000 EUR 4,015,840.00 4,003,132.00 0.17 Fresenius 1.5% 17-30.01.24 6,000,000 EUR 6,015,070.00 6,062,280.12 0.26 Fresenius F 3% 17-30.01.32 2,000,000 EUR 2,062,320.00 2,097,662.04 0.09 G4s 1.5% 16-09.01.23 3,500,000 EUR 3,526,730.00 3,545,892.11 0.15 G4s Int Fin 1.5% 17-02.06.24 4,250,000 EUR 4,224,287.50 4,230,875.00 0.18 Galp Gas Na 1.375% 16-19.09.23 6,500,000 EUR 6,455,555.00 6,460,421.37 0.28 Gas Nat Fen 4.125% 14-Perpetual 4,000,000 EUR 4,031,725.00 4,314,104.00 0.18 Gas Ncp 1.125% 17-11.04.24 4,000,000 EUR 3,978,640.00 4,025,711.96 0.17 Gaz Cap 3.125% 16-17.11.23 10,000,000 EUR 10,153,600.00 10,439,800.30 0.45 Gaz Cap 3.6% 14-26.02.21 12,000,000 EUR 12,376,500.00 12,734,640.24 0.54 Gaz Capital 3.389% 20.03.20 10,000,000 EUR 10,511,500.00 10,485,540.00 0.45 Gdf 3.875% Ftf 13-Perp 6,000,000 EUR 6,286,500.00 6,195,000.00 0.27 Gdf Suez 4.75% 13-Perp Ftf 3,000,000 EUR 3,314,500.00 3,360,000.00 0.14 Gecina 1.5% 15-20.01.25 4,000,000 EUR 4,100,870.00 4,076,716.00 0.17 General Motors 0.955% 07.09.23 9,000,000 EUR 8,871,095.00 8,705,159.91 0.37 Georgia 4.75% 15-15.02.23 Regs 3,500,000 EUR 3,858,750.00 3,812,983.93 0.16 Germany 0.5% 13-23.02.18 5,000,000 EUR 5,090,450.00 5,036,449.80 0.22 Germany 1% 13-12.10.18 5,000,000 EUR 5,185,000.00 5,104,515.10 0.22 Gestamp Fdg 3.5% 16-15.05.23 3,000,000 EUR 3,069,825.00 3,127,440.03 0.13


UBI SICAV




Glencore Fi 1.25% 15-17.03.21 6,000,000 EUR 6,074,740.00 6,090,780.00 0.26 Gr City Pr 2% 14-29.10.21 4,000,000 EUR 4,166,399.99 4,211,655.88 0.18 Groupama Sa 7.875% 09-27.10.39 3,000,000 EUR 3,229,125.00 3,438,779.97 0.15 Groupe Fnac 3.25% 16-30.09.23 3,300,000 EUR 3,347,875.00 3,447,166.87 0.15 Grupo 3.25% 17-30.04.24 Regs 4,500,000 EUR 4,520,400.00 4,595,625.00 0.20 Gs Frn 16-28.10.27 6,000,000 USD 5,540,829.74 5,464,539.32 0.23 Gs Frn 17-09.09.22 8,000,000 EUR 8,002,100.00 8,004,800.00 0.34 Hanesbrand 3.5% 16-15.06.24 6,000,000 EUR 6,272,750.00 6,285,000.00 0.27 Hannover Fin 5.75% (Frn)14.09.40 3,000,000 EUR 3,498,900.00 3,465,696.03 0.15 Heid C Lux 0.5% 17-18.01.21 2,000,000 EUR 1,996,440.00 2,009,579.92 0.09 Heidlrg 1.5% 16-07.02.25 Reg-S 4,500,000 EUR 4,479,270.00 4,554,116.96 0.19 Heidlrg 2.25% 16-30.03.23 6,000,000 EUR 6,245,040.00 6,414,419.88 0.27 Hj Heinz Co 1.5% 16-24.05.24 4,500,000 EUR 4,505,405.00 4,519,147.46 0.19 Holcim Fin 1.375% 16-26.05.23 6,000,000 EUR 6,066,350.00 6,121,235.94 0.26 Hsbc Hldg 1.5% 16-15.03.22 4,500,000 EUR 4,674,760.00 4,684,720.37 0.20 Hutch Wham 1.375% 14-31.10.21 7,000,000 EUR 7,217,000.00 7,201,432.14 0.31 Hutchison Wh Frn (3.75%) 13-Perp 10,000,000 EUR 10,293,525.00 10,222,000.00 0.44 Iberdrola 0.375% 16-15.09.25 4,000,000 EUR 3,957,840.00 3,751,919.88 0.16 Iberdrola 5.75% (Frn) 13-Perp 4,000,000 EUR 4,251,640.00 4,140,800.00 0.18 Icade Sa 1.75% 16-10.06.26 2,500,000 EUR 2,490,475.00 2,549,300.00 0.11 Imp Tob 1.375% 17-27.01.25 Regs 3,000,000 EUR 2,999,940.00 2,982,891.09 0.13 Imp Tobacco 0.5% 17-27.07.21 Regs 6,000,000 EUR 5,969,565.00 5,970,407.88 0.26 Ims Health 3.25% 17-15.03.25 4,000,000 EUR 4,000,000.00 4,065,535.88 0.17 Ims Health 3.5% 16-15.10.24 2,000,000 EUR 2,050,000.00 2,075,086.06 0.09 Ims Health 4.125% 15-01.04.23 4,000,000 EUR 4,203,000.00 4,192,000.12 0.18 In Justit 3.125% 15.07.24 Regs 5,500,000 EUR 5,509,912.00 5,478,550.00 0.23 Ineos Fin 4% 15-01.05.23 6,000,000 EUR 6,244,650.00 6,179,279.94 0.26 Ing Groep 0.75% 17-09.03.22 5,000,000 EUR 4,985,525.00 5,013,119.90 0.21 Ing Nv 3% 17-11.04.28 6,500,000 EUR 6,852,500.00 6,961,058.07 0.30 Ing Nv 3.625%/Frn 14-25.02.26 3,000,000 EUR 3,246,000.00 3,278,886.12 0.14 Inmob Col Frn 16-28.10.24 4,000,000 EUR 3,938,235.00 3,923,855.88 0.17 Inter Game 4.75% 12-05.03.20 2,500,000 EUR 2,687,727.27 2,734,600.08 0.12 Intesa Frn 09-Perp 5,500,000 EUR 6,297,500.00 6,236,724.84 0.27 Intesa San 2% 14-18.06.21 13,000,000 EUR 13,582,400.00 13,698,307.61 0.59 Intesa San 2.855% 15-23.04.25 2,000,000 EUR 2,009,800.00 2,005,200.04 0.09 Intesa San 6.625% 08.05.18 Emtn 7,000,000 EUR 7,578,074.00 7,345,100.00 0.31 Intesa San 6.625% 13-13.09.23 Emtn 10,000,000 EUR 11,761,200.00 12,271,080.00 0.53 Intesa San Frn 17-19.04.22 3,000,000 EUR 3,020,250.00 3,030,900.00 0.13 Ipsen 1.875% 16-16.06.23 4,000,000 EUR 3,997,950.00 4,122,400.00 0.18 Iren 0.875% 16-04.11.24- 6,200,000 EUR 6,025,598.77 5,930,876.72 0.25 Is Vita 5.35% 13-18.09.18 /Sub 3,000,000 EUR 3,310,000.00 3,175,626.06 0.14 Islandsbk 1.75% 16-07.09.20 1,500,000 EUR 1,495,590.00 1,539,585.00 0.07 Italcementi Fi Frn 10-19.03.20 5,000,000 EUR 5,948,375.00 5,662,934.90 0.24 Italy 0.95% 16-15.03.23 /Btp 14,000,000 EUR 13,600,705.00 13,859,019.44 0.59 Itv 2% 16-01.12.23 4,000,000 EUR 3,996,568.00 4,071,943.96 0.17 Jab Hldgs 1.75% 16-25.05.23 8,000,000 EUR 8,129,520.00 8,344,680.16 0.36 Jaguar 4.125% 13-15.12.18 2,000,000 USD 1,870,029.57 1,790,304.20 0.08 Johnson Ctl 1% 17-15.09.23 5,000,000 EUR 4,963,862.00 4,939,260.10 0.21 Jpm Chase Co 2.75% 12-24.08.22 4,000,000 EUR 4,434,190.00 4,413,808.00 0.19 Kbc 1% 16-26.04.21 5,000,000 EUR 5,093,670.00 5,100,840.00 0.22 Kbc 2.375% 14-25.11.24 6,500,000 EUR 6,807,700.00 6,767,800.20 0.29 Kbc Frn 17-24.11.22 Regs 9,000,000 EUR 9,000,000.00 8,999,100.00 0.39 Kellogg Co 0.8% 17-17.11.22 6,000,000 EUR 5,996,820.00 5,961,762.06 0.26 Kellogg Co 1% 16-17.05.24 2,500,000 EUR 2,465,930.00 2,471,899.98 0.11 Kinder Mor 1.5% 15-16.03.22 7,500,000 EUR 7,668,900.00 7,585,709.93 0.32 Kirs Mid 8.375% 17-15.07.23 Regs 5,200,000 GBP 5,949,652.80 5,810,997.84 0.25 Koninklijke 1.125% 16-11.09.28 3,000,000 EUR 2,974,650.00 2,828,700.03 0.12 Kpn (6.125%) Frn 13-Perp /Sub 10,000,000 EUR 10,719,250.00 10,619,999.70 0.45 L Dreyf Com 5.25% 17-13.06.23 6,000,000 USD 5,325,286.23 5,371,438.59 0.23 Lagardere 1.625% 17-21.06.24 6,000,000 EUR 5,964,660.00 5,920,800.00 0.25 Landsbknn 1.625% 16-15.03.21 3,000,000 EUR 3,028,125.00 3,064,283.97 0.13 Lbk Bw 3.625% 15-16.06.25 3,000,000 EUR 3,228,900.00 3,268,545.00 0.14 Leaseplan 1% 16-24.05.21 4,000,000 EUR 4,041,120.00 4,051,640.00 0.17


UBI SICAV




Leonardo 4.875% 05-24.03.25 2,500,000 EUR 3,051,500.00 3,043,460.08 0.13 Levi 3.375% 17-15.03.27 5,000,000 EUR 5,043,350.00 5,051,000.00 0.22 Lincoln 6.875% 16-15.04.21 11,000,000 EUR 11,818,700.00 11,777,743.56 0.50 Lloyds Bk 0.75% 16-09.11.21 4,000,000 EUR 3,973,682.66 4,037,224.12 0.17 Lloyds Bk Frn 17-21.06.24 4,000,000 EUR 3,999,525.00 3,998,000.00 0.17 Loxam 4.25% 17-15.04.24 Regs 3,500,000 EUR 3,524,500.00 3,690,777.93 0.16 Mapfre 1.625% 16-19.05.26 6,000,000 EUR 5,987,680.00 6,012,053.82 0.26 Mapfre 5.921% 07-24.07.37 3,000,000 EUR 3,091,500.00 3,006,600.00 0.13 Mcdonalds 1% 16-15.11.23 4,000,000 EUR 3,997,439.99 4,029,468.08 0.17 Mcdonalds 1.125% 15-26.05.22 3,500,000 EUR 3,588,750.00 3,580,398.36 0.15 Mediobanca 0.75% 17-17.02.20 6,000,000 EUR 5,999,240.00 6,047,388.18 0.26 Mediobanca Frn 17-18.05.22 10,000,000 EUR 10,000,000.00 10,010,000.00 0.43 Merl Socimi 1.75% 17-26.05.25 5,500,000 EUR 5,467,935.00 5,475,420.56 0.23 Merl Socimi 1.87% 16-02.11.26 4,500,000 EUR 4,451,400.00 4,429,773.00 0.19 Merl Socimi 2.225% 16-25.04.23 3,000,000 EUR 3,102,170.00 3,125,495.91 0.13 Metro 1.5% 15-19.03.25 5,000,000 EUR 5,034,540.00 4,922,420.10 0.21 Mol 2.625% 16-28.04.23 2,500,000 EUR 2,505,000.00 2,650,000.00 0.11 Molson Coor 1.25% 16-15.07.24 5,000,000 EUR 5,009,360.00 4,966,899.85 0.21 Mor St 1% 16-02.12.22 3,000,000 EUR 3,020,390.00 3,017,945.94 0.13 Mor St 1.875% 14-30.03.23 2,000,000 EUR 2,102,200.00 2,093,435.98 0.09 Mor St Frn 17-08.11.22 6,000,000 EUR 6,000,000.00 6,024,000.00 0.26 Mpt Op Ptnr 3.325% 17-24.03.25 4,000,000 EUR 4,001,250.00 4,080,588.08 0.17 Mylan 1.25% 16-23.11.20 3,000,000 EUR 3,052,370.00 3,064,731.00 0.13 Mylan 2.25% 16-22.11.24 5,000,000 EUR 5,080,420.00 5,172,449.85 0.22 N&W GLOBAL 7% 17-15.10.23 1,000,000 EUR 1,045,000.00 1,057,900.00 0.05 Nassa 2.875% 17-06.04.24 Regs 5,450,000 EUR 5,540,095.00 5,586,244.60 0.24 Nationwide 4.125% 20.03.23 Emtn 8,000,000 EUR 8,260,500.00 8,209,600.00 0.35 Nemak 3.25% 17-15.03.24 Regs 3,000,000 EUR 3,056,250.00 3,054,000.09 0.13 Nexans 2.75% 17-05.04.24 5,000,000 EUR 5,000,000.00 5,015,500.00 0.21 Nn Group 0.875% 13.01.23 Regs 4,000,000 EUR 4,014,000.00 3,985,732.12 0.17 Nn Group 4.5% 14-Perp 3,500,000 EUR 3,475,500.00 3,702,299.97 0.16 Nokia Oyj 2% 17-15.03.24 6,000,000 EUR 5,972,236.00 6,103,032.06 0.26 Nomad Foods 3.25% 17-15.05.24 4,000,000 EUR 4,048,550.00 4,068,804.00 0.17 Nordea Bank 1% 16-07.09.26 4,000,000 EUR 3,979,560.00 3,993,268.12 0.17 Norican Gro 4.5% 17-15.05.23 6,000,000 EUR 6,042,750.00 6,120,000.00 0.26 Nyrstr Nt 6.875% 15.03.24 Regs 4,500,000 EUR 4,561,875.00 4,554,629.87 0.19 O2 Telefoni 2.375% 14-10.02.21 3,000,000 EUR 3,243,370.00 3,201,900.09 0.14 Oi European 3.125% 16-15.11.24 4,500,000 EUR 4,558,050.00 4,562,703.09 0.20 Omv 6.25% 15-Perp 4,000,000 EUR 4,680,000.00 4,640,000.00 0.20 Onorato Arm 7.75% 16-15.02.23 6,000,000 EUR 6,136,900.00 5,853,360.00 0.25 Orange 1% 16-12.05.25 4,000,000 EUR 3,991,320.00 4,002,984.00 0.17 Orange 4% 14-Perp 10,000,000 EUR 10,458,550.00 10,850,000.00 0.46 Ori Ene Fin 3.5% 13-04.10.21 3,500,000 EUR 3,566,500.00 3,894,736.93 0.17 Orlen Capit 2.5% 16-07.06.23 2,500,000 EUR 2,501,790.00 2,666,259.95 0.11 Ote Plc 4.375% 15-02.12.19 3,000,000 EUR 3,100,300.00 3,166,799.94 0.14 Partnerre 1.25% 16-15.09.26 8,000,000 EUR 7,816,820.00 7,632,688.00 0.33 Pearson Fd5 1.375% 15-06.05.25 2,500,000 EUR 2,435,390.00 2,464,900.03 0.11 Pemex 2.5% 17-21.08.21 5,000,000 EUR 4,989,900.00 5,101,250.10 0.22 Pemex 3.75% 17-21.02.24 5,000,000 EUR 5,019,736.00 5,175,960.15 0.22 Pemex 5.125% 16-15.03.23 3,000,000 EUR 3,163,500.00 3,373,620.06 0.14 Pernod Ric 2.125% 14-27.09.24 4,000,000 EUR 4,286,637.50 4,298,232.12 0.18 Petro Gbl F 6.25% 14-17.03.24 2,000,000 USD 1,940,101.71 1,786,622.28 0.08 Petrobras 3.75% 14-14.01.21 3,500,000 EUR 3,649,500.00 3,620,239.07 0.16 Petrobras 4.75% 14-14.01.25 2,000,000 EUR 2,036,000.00 2,042,389.98 0.09 Petrobras 6.125% 17-17.01.22 1,000,000 USD 957,559.20 904,269.33 0.04 Peugeot 2% 17-23.03.24 Regs 4,000,000 EUR 4,016,828.57 4,051,311.96 0.17 Peugeot 2.375% 16-14.04.23 12,000,000 EUR 12,406,336.62 12,602,159.76 0.54 Pirelli Int 1.75% 14-18.11.19 9,000,000 EUR 8,991,250.00 9,179,100.00 0.39 Poste Vita 2.875% 14-30.05.19 4,000,000 EUR 4,209,965.00 4,189,200.12 0.18 Pricelineco 0.8% 17-10.03.22 3,000,000 EUR 2,982,040.00 2,988,257.91 0.13 Pricelineco 2.375% 14-23.09.24 1,000,000 EUR 1,072,000.00 1,061,221.01 0.05 Prudential 5.25% 16-Perp 6,000,000 USD 5,604,506.28 5,301,008.05 0.23 Psa Banque 0.5% 17-17.01.20 7,000,000 EUR 6,993,535.00 7,036,049.93 0.30


UBI SICAV




Rabobk 6.875% 10-19.03.20 13,000,000 EUR 15,457,800.00 15,255,500.00 0.65 Raiff Intl 5.163% 13-18.06.24 4,000,000 EUR 3,937,000.00 4,223,600.00 0.18 Rallye 4.371% 17-23.01.23 5,000,000 EUR 5,000,000.00 5,154,500.00 0.22 Rbs 5.25% 05-Perp 4,500,000 EUR 4,298,750.00 4,513,950.00 0.19 Rbs Grp 1.625% 14-25.06.19 4,000,000 EUR 4,122,000.00 4,107,796.04 0.18 Rbs Grp 2% 17-08.03.23 6,000,000 EUR 6,001,350.00 6,194,490.06 0.27 Rbs Grp 3.625% 14-25.03.24 4,000,000 EUR 3,914,340.00 4,145,328.08 0.18 Rci Banq 1.375% 08.03.24 Regs 5,000,000 EUR 5,057,500.00 5,059,970.10 0.22 Rci Bq 1% 16-17.05.23 2,000,000 EUR 1,986,800.00 2,002,380.06 0.09 Rci Bq Frn 17-14.03.22 7,000,000 EUR 7,000,000.00 7,015,400.00 0.30 Relx Financ 1.375% 16-12.05.26 2,000,000 EUR 2,029,215.00 2,022,960.06 0.09 Repsm 4.5% 15-25.03.75 8,000,000 EUR 7,612,875.00 8,218,815.92 0.35 Rexel 2.625% 17-15.06.24 2,500,000 EUR 2,503,750.00 2,528,129.95 0.11 Rexel 3.5% 16-15.06.23 6,000,000 EUR 6,045,000.00 6,270,000.00 0.27 Rwe Ag 3.5% 15-21.04.75 7,000,000 EUR 6,123,100.00 6,934,438.00 0.30 Rwe Ag 6.625% 30.07.75 Reg-S 3,000,000 USD 2,954,944.68 2,825,591.30 0.12 Ryanair 1.125% 17-15.08.23 9,000,000 EUR 9,006,234.00 9,043,470.18 0.39 Ryanair Ltd 1.125% 15-10.03.23 4,000,000 EUR 4,062,860.00 4,033,667.92 0.17 Rzd Capital 3.3744% 13-20.05.21 6,000,000 EUR 6,284,250.00 6,351,300.18 0.27 Saipem Fin 3% 16-08.03.21 3,000,000 EUR 3,089,000.00 3,063,509.91 0.13 Saipem Fin 3.75% 16-08.09.23 5,000,000 EUR 5,180,475.00 5,150,000.00 0.22 Salini Impr 3.75% 16-24.06.21 2,000,000 EUR 2,027,352.94 2,180,180.06 0.09 Sampo Bk 1% 16-18.09.23 5,000,000 EUR 5,011,315.00 4,978,995.15 0.21 San Con 1.5% 15-12.11.20 5,000,000 EUR 5,182,915.00 5,181,655.10 0.22 Santander 1.125% 16-08.09.23 5,000,000 EUR 4,949,790.00 4,993,965.15 0.21 Santander 1.375% 17-09.02.22 Regs 5,500,000 EUR 5,509,515.00 5,634,321.00 0.24 Santander U Frn 17-18.05.23 6,000,000 EUR 6,000,000.00 6,003,600.00 0.26 Sappi Papie 4% 16-01.04.23 3,000,000 EUR 3,165,000.00 3,146,250.00 0.13 Schaef 2.75% 16-15.09.21 /Pik 5,000,000 EUR 5,074,890.00 5,087,300.10 0.22 Schaef 3.25% 16-15.09.23 /Pik 6,000,000 EUR 6,140,875.00 6,150,000.00 0.26 Seb 1.375% (Frn) 16-31.10.28 4,000,000 EUR 3,956,800.00 3,970,463.88 0.17 Selp Financ 1.25% 16-25.10.23 2,500,000 EUR 2,478,500.00 2,457,855.03 0.11 Ses 4.625% 16-Perp 10,000,000 EUR 10,251,811.10 10,731,919.90 0.46 Shb 2.656% 14-15.01.24 4,000,000 EUR 4,150,280.00 4,134,872.12 0.18 Silk Bidco 7.5% 15-01.02.22 4,000,000 EUR 4,315,000.00 4,260,000.00 0.18 Sm Mth Auto 1.8% 17-06.07.24 11,600,000 EUR 11,518,684.00 11,372,640.00 0.49 Smurfit 2.375% 17-01.02.24 Regs 5,000,000 EUR 5,036,900.00 5,116,500.10 0.22 Sns 3.75% 15-05.11.25 2,000,000 EUR 2,023,600.00 2,154,161.98 0.09 Socgen 1% 16-01.04.22 4,000,000 EUR 4,037,240.00 4,049,295.96 0.17 Socgen 2.5% 14-16.09.26 6,000,000 EUR 6,150,810.00 6,272,340.06 0.27 Softbank 4% 15-30.07.22 3,000,000 EUR 3,242,400.00 3,306,299.97 0.14 Softbank 4.75% 15-30.07.25 8,000,000 EUR 8,686,128.57 9,208,800.08 0.39 Sogecap Sa 4.125% /Frn 14-Perp 3,000,000 EUR 2,882,500.00 3,210,000.00 0.14 Solvay Fin 5.118% 15-Perp 4,000,000 EUR 4,175,000.00 4,457,000.12 0.19 Stillwater 7.125% 17-27.06.25 3,800,000 USD 3,363,894.68 3,272,523.89 0.14 Stora Enso 2.5% 17-07.06.27 Regs 4,000,000 EUR 3,993,360.00 3,967,600.00 0.17 Suez Env Co 3% 14-Perp 4,000,000 EUR 4,162,850.00 4,203,999.92 0.18 Swed Match 0.875% 16-23.09.24 4,000,000 EUR 3,955,710.00 3,896,800.00 0.17 Swedbank 1% 17-22.11.27 4,500,000 EUR 4,476,375.00 4,443,344.87 0.19 Swedbank 2.375% 14-26.02.24 2,000,000 EUR 2,054,000.00 2,064,060.06 0.09 Swissport I 6.75% 15-15.12.21 4,000,000 EUR 4,373,625.00 4,283,944.08 0.18 Syngenta 1.875% 14-02.11.21 6,000,000 EUR 6,249,000.00 6,156,858.24 0.26 Sysco Corp 1.25% 16-23.06.23 5,000,000 EUR 5,033,690.00 5,054,705.05 0.22 Tdf Infrast 2.5% 16-07.04.26 8,000,000 EUR 8,205,904.62 8,328,823.84 0.36 Telec It Fin 7.75% 03-24.01.33 2,000,000 EUR 2,650,000.00 2,771,848.14 0.12 Telecom It 2.5% 17-19.07.23 10,000,000 EUR 10,049,800.01 10,527,240.00 0.45 Telecom It 3.25% 15-16.01.23 10,000,000 EUR 10,722,250.00 11,031,860.40 0.47 Telecom It 3.625% 16-19.01.24 11,000,000 EUR 11,939,185.00 12,238,292.22 0.52 Telefonica 3.75% 16-Perp 10,000,000 EUR 9,828,375.00 10,425,000.00 0.45 Telefonica 4.2% 14-Perp 10,000,000 EUR 10,142,925.00 10,632,479.90 0.45 Telefonica 5% 14-Perp 6,000,000 EUR 6,141,200.00 6,497,087.88 0.28 Telefonica 5.875% 14-Perp 2,000,000 EUR 2,281,999.99 2,293,428.04 0.10 Telekom Austria Ag Frn Perpetual 4,000,000 EUR 4,148,000.00 4,119,600.00 0.18


UBI SICAV



Descrizione Valore nominale/ Divisa Cost Valore di Mercato % del Quantità patrimonio netto

Telenet Fin V 6.75% 12-15.08.24 2,000,000 EUR 2,212,000.00 2,182,931.98 0.09 Telenet Fnc 4.875% 15-15.07.27 1,500,000 EUR 1,522,500.00 1,640,106.02 0.07 Telia 3% 17-04.04.78 Regs 6,000,000 EUR 6,080,900.00 6,172,668.00 0.26 Tennet 2.995% (Frn) 17-Perp Regs 5,000,000 EUR 5,023,716.00 5,125,000.00 0.22 Tereos Fin 4.125% 16-16.06.23 5,000,000 EUR 4,958,820.00 5,092,499.90 0.22 Tesco Corp 1.375% 14-01.07.19 11,000,000 EUR 11,053,900.00 11,189,859.78 0.48 Tesco Corp 2.5% 14-01.07.24 5,000,000 EUR 5,042,050.00 5,113,715.00 0.22 Teva Pharm 1.125% 16-15.10.24 3,000,000 EUR 2,846,100.00 2,872,770.09 0.12 Teva Pharm 1.25% 15-31.03.23 11,000,000 EUR 11,081,650.00 10,853,876.00 0.46 Teva Pharm 1.875% 15-31.03.27 2,000,000 EUR 1,923,740.00 1,928,881.98 0.08 Thermo Fish 1.375% 16-12.09.28 4,000,000 EUR 3,933,020.00 3,802,164.00 0.16 Thermo Fish 2% 14-15.04.25 1,000,000 EUR 1,053,930.00 1,042,621.99 0.04 Thyssenkp 1.375% 17-03.03.22 8,000,000 EUR 7,927,984.00 7,986,560.08 0.34 Thyssenkp 2.75% 16-08.03.21 8,000,000 EUR 8,305,150.00 8,447,119.76 0.36 Time Warner 1.95% 15-15.09.23 6,000,000 EUR 6,334,020.00 6,249,780.12 0.27 Total Sa 2.625% 15-Perpetual 3,000,000 EUR 2,824,850.00 2,970,000.00 0.13 Total Sa 3.875% 16-Perp 5,000,000 EUR 5,255,350.00 5,389,690.00 0.23 Tvo Power 2.625% 16-13.01.23 5,000,000 EUR 5,200,850.00 5,173,519.90 0.22 Ubs Group F Frn 17-20.09.22 Regs 8,000,000 EUR 8,002,000.00 8,068,800.00 0.35 Ubs Ln 4.75% 14-12.02.26 8,000,000 EUR 8,608,500.00 8,822,400.00 0.38 Unic Bka 2.5% 13-27.05.19 3,000,000 EUR 3,143,240.00 3,124,584.06 0.13 Unicre Lu F Frn 09-Perpetual 3,000,000 EUR 3,295,500.00 3,353,687.91 0.14 Unicred 6.7% 08-05.06.18 Subord 7,000,000 EUR 7,549,843.00 7,392,560.14 0.32 Unicredit 2% 16-04.03.23 3,000,000 EUR 3,086,700.00 3,149,016.03 0.13 Unicredit 2.125% 16-24.10.26 2,000,000 EUR 1,992,880.00 2,054,503.94 0.09 Unicredit 5.75% 13-28.10.25 10,000,000 EUR 10,639,325.00 10,994,480.10 0.47 Unicredit Ital 5.75% 07-26.09.17 3,000,000 EUR 3,161,250.00 3,032,700.00 0.13 Unitym Nrw 4% 14-15.01.25 5,000,000 EUR 5,149,000.00 5,268,999.85 0.23 Unitym Nrw 5.125% 13-21.01.23 4,009,500 EUR 4,129,785.00 4,189,606.62 0.18 Unitym Nrw 6.25% 13-15.01.29 4,500,000 EUR 5,133,749.98 5,100,884.87 0.22 Valeo Sa 1.625% 16-18.03.26 4,500,000 EUR 4,617,822.86 4,622,184.09 0.20 Veolia 0.927% 16-04.01.29 3,000,000 EUR 3,000,000.00 2,793,597.12 0.12 Veolia 4.45% 13 Ftf /Perp 10,000,000 EUR 10,421,875.00 10,297,000.00 0.44 Verisure 6% 15-01.11.22 5,400,000 EUR 5,923,800.00 5,876,010.11 0.25 Verizon Com 0.5% 16-02.06.22 3,000,000 EUR 2,970,540.00 2,950,260.09 0.13 Verizon Com 1.625% 14-01.03.24 3,000,000 EUR 3,142,500.00 3,065,706.03 0.13 Vodafone 0.375% 17-22.11.21 11,000,000 EUR 10,958,060.00 10,905,136.44 0.47 Vodafone 0.5% 16-30.01.24 2,000,000 EUR 1,931,760.00 1,926,860.04 0.08 Volvo Tsy 4.2% 14-10.06.75 5,000,000 EUR 5,274,600.00 5,325,000.00 0.23 Vw Intl 1.875% 17-30.03.27 Regs 5,000,000 EUR 4,984,950.00 4,993,349.85 0.21 Vw Intl Fin 2.5% 15-Perp 7,000,000 EUR 6,419,595.00 7,001,259.86 0.30 Vw Intl Fin 3.75% 14-Perp 7,000,000 EUR 7,391,000.00 7,379,217.79 0.32 Vw Intl Fin 3.875% 17-Perp 8,500,000 EUR 8,514,550.01 8,440,500.00 0.36 Wagamama 4.125% 17-01.07.22 2,000,000 GBP 2,276,608.00 2,268,472.92 0.10 Wells Fargo 1.125% 14-29.10.21 8,000,000 EUR 8,234,600.00 8,225,800.16 0.35 Wind Acq 4% 14-15.07.20 13,000,000 EUR 12,946,000.00 13,136,500.39 0.56 Wind Acq 7% 14-23.04.21 5,000,000 EUR 5,214,500.00 5,202,000.05 0.22 Worldpay Fi 3.75% 15-15.11.22 6,500,000 EUR 7,017,000.00 7,058,870.00 0.30 Zf Na Capit 2.75% 15-27.04.23 8,000,000 EUR 8,360,000.00 8,588,383.76 0.37 Ziggo Fin 3.75% 15-15.01.25 4,000,000 EUR 4,083,775.00 4,177,040.12 0.18 Zodiak Medi 4% 17-01.07.22 1,800,000 EUR 1,800,000.00 1,827,180.00 0.08

2,201,711,775.03 2,222,095,719.93 95.06


ufficiale di una borsa valori 2,201,711,775.03 2,222,095,719.93 95.06


UBI SICAV





Obbligazioni Mercury 7.125% 17-30.05.21 /Pik 6,000,000 EUR 6,034,000.00 6,240,000.00 0.26

6,034,000.00 6,240,000.00 0.26



Opzioni Put Treasury Bonds Usa 25/08/17 152 800 USD 379,161.30 887,612.87 0.04

379,161.30 887,612.87 0.04


TOTALE DEGLI INVESTIMENTI 2,208,124,936.33 2,229,223,332.80 95.36


UBI SICAV




Holding e Società Finanziarie 27.26 Paesi bassi 13.77

Banche e Istituzioni Finanziarie 22.09 Francia 13.62

Comunicazioni 9.67 Italia 11.14

Servizi Pubblici 4.86 Gran Bretagna 10.50

Assicurazioni 4.20 Stati Uniti d’America 9.79

Petrolio 3.09 Lussemburgo 8.68

Industria Automobilistica 2.71 Germania 5.72

Società Immobiliari 2.59 Spagna 4.10

Trasporti 1.66 Irlanda 3.72

Retail 1.54 Svezia 2.26

Chimica 1.23 Belgio 1.43

Costruzioni e Materiali da Costruzione 1.13 Jersey 1.27

Elettronica e apparecchiature elettriche 1.12 Danimarca 1.24


Software e Servizi Internet 0.99 Finlandia 0.86

Tabacco e alcolici 0.96 Austria 0.82

Farmaceutica e Cosmetica 0.91 Svizzera 0.74

Miniere e industrie pesanti 0.88 Portogallo 0.69

Altri servizi 0.85 Norvegia 0.68

Varie 0.73 Giappone 0.53

Cibo e bevande 0.69 Australia 0.51

Tecnologia Aerospaziale 0.61 Hong Kong 0.44

Educazione Sanitaria e Servizi Sociali 0.61 Bulgaria 0.41

Arti grafiche e editoria 0.52 Islanda 0.37

Intrattenimento 0.46 Isole Cayman 0.31

Pesca e Agricoltura 0.45 Nuova Zelanda 0.23

Imballaggio e Container 0.41 Guernsey 0.22

Beni di consumo 0.38 Bermuda 0.17

Semiconduttori elettronici 0.33 Ungheria 0.11

Industrie cartarie e prodotti forestali 0.30 Cassa e Altre Attività / (Passività) 4.64


Tessile 0.22


Biotecnologia 0.18

Mutui & Istituti di Finanziamento 0.15 Metalli Preziosi 0.14


100.00

100.00

215

UBI SICAV




netto


Obbligazioni A2a 1.25% 17-16.03.24 530,000 EUR 529,003.50 530,212.00 0.06 Ab Inbev 0.625% 16-17.03.20 810,000 EUR 824,643.18 820,619.08 0.09 Abbey Natl 0.875% 14-13.01.20 470,000 EUR 478,634.40 477,565.10 0.06 Abbvie 0.375% 16-18.11.19 340,000 EUR 339,088.80 341,502.13 0.04 Abn Amro 1% 15-16.04.25 640,000 EUR 656,144.46 646,632.33 0.07 Accor 1.25% 17-25.01.24 400,000 EUR 396,116.00 399,008.00 0.05 Acea 1% 16-24.10.26 520,000 EUR 503,370.90 495,914.65 0.06 Achmea Hypo 1.125% 15-25.04.22 140,000 EUR 143,845.80 142,800.71 0.02 Aeroporti 1.625% 17-08.06.27 Regs 190,000 EUR 188,683.30 189,620.00 0.02 Air Liquide 1% 17-08.03.27 200,000 EUR 199,750.00 198,142.59 0.02 Allianz Se 2.241% 15-07.07.45 500,000 EUR 488,767.00 502,447.51 0.06 Amer Movil 1.5% 16-10.03.24 400,000 EUR 411,185.00 405,654.39 0.05 Amgen 1.25% 16-25.02.22 200,000 EUR 207,278.00 206,054.99 0.02 Apple Inc 1.625% 14-10.11.26 610,000 EUR 655,592.90 634,734.90 0.07 Arkema 1.5% 15-20.01.25 300,000 EUR 312,436.00 308,200.79 0.04 Arrfp 2.25% 14-16.01.20 300,000 EUR 319,552.20 315,688.50 0.04 Assgen 5.5% 15-27.10.47 370,000 EUR 403,300.00 412,087.50 0.05 Att 1.45% 14-01.06.22 600,000 EUR 625,822.71 615,584.38 0.07 Australia 3.25% 13-21.04.25 4,310,000 AUD 3,249,342.81 3,050,886.56 0.35 Austria 0.75% 16-20.10.26 3,810,000 EUR 3,866,739.80 3,849,204.86 0.44 Austria 1.5% 16-20.02.47 610,000 EUR 604,075.50 595,915.72 0.07 Austria 4.15% 06-15.03.37 781,000 EUR 1,260,827.19 1,173,964.82 0.13 Autostrade 1.125% 15-04.11.21 300,000 EUR 310,708.00 309,489.01 0.04 Aviva 3.375% 15-04.12.45 200,000 EUR 202,474.00 205,546.01 0.02 Axa 5.25% (Frn) 10-16.04.40 /Sub 200,000 EUR 222,233.50 223,860.40 0.03 Azimut Hldg 2% 17-28.03.22 190,000 EUR 193,895.00 196,023.00 0.02 Banco Bilba 1% 16-20.01.21 200,000 EUR 205,205.00 204,485.99 0.02 Barclays 6% 10-14.01.21 310,000 EUR 361,620.50 361,432.11 0.04 Bat Hldg 3.125% 14-06.03.29 140,000 EUR 167,160.00 156,630.89 0.02 Bayer Ag 3% 14-01.07.75 190,000 EUR 194,595.00 197,546.42 0.02 Belgium 0.8% 17-22.06.27 Regs 5,270,000 EUR 5,258,715.90 5,267,459.70 0.60 Berkshire 1.125% 15-16.03.27 300,000 EUR 299,253.00 291,433.80 0.03 Bertelsmann 0.25% 17-26.05.21 200,000 EUR 199,382.00 198,743.61 0.02 Bfcm 2.625% 14-18.03.24 700,000 EUR 790,083.00 781,826.49 0.09 Bg Energy 6.5% (Frn) 12-30.11.72 240,000 EUR 254,211.80 245,952.00 0.03 Bk Ireland 4.25% 14-11.06.24 310,000 EUR 322,472.00 327,054.35 0.04 Bmw Fin 0.125% 17-12.01.21 640,000 EUR 638,835.48 637,935.35 0.07 Bnpp 2.25% 16-11.01.27 370,000 EUR 368,719.30 373,882.05 0.04 Boa 2.5% 13-27.07.20 Regs 840,000 EUR 907,254.40 896,852.91 0.10 Bp Milan 4.25% 14-30.01.19 140,000 EUR 149,800.00 146,742.40 0.02 Bpce 1.125% 17-18.01.23 600,000 EUR 598,063.71 607,370.41 0.07 Bpcm 2.994% 12-18.02.19 610,000 EUR 648,807.00 638,965.23 0.07 Bqe Postale 3% 16-09.06.28 300,000 EUR 311,939.00 321,263.40 0.04 Britel 1.5% 17-23.06.27 190,000 EUR 188,447.70 185,554.00 0.02 Caixabank 1.125% 17-17.05.24 200,000 EUR 199,558.00 199,308.00 0.02 Cap Gem 0.5% 16-09.11.21 200,000 EUR 199,260.00 199,242.80 0.02 Carrefour 1.25% 15-03.06.25 610,000 EUR 628,818.00 616,968.66 0.07 Cassa Depo 1.5% 17-21.06.24 200,000 EUR 198,620.00 195,732.00 0.02 Cdp Reti Sr 1.875% 15-29.05.22 140,000 EUR 143,150.00 144,279.24 0.02 Citigp 1.5% 16-26.10.28 370,000 EUR 366,687.67 358,485.97 0.04 Cnp Assur 1.875% 16-20.10.22 300,000 EUR 303,308.00 313,054.50 0.04 Coca Cola 1.125% 15-09.03.27 340,000 EUR 351,152.00 337,164.06 0.04 Comzbk 1.125% 17-24.05.24 380,000 EUR 378,020.20 379,362.36 0.04 Credit Agri 1.875% 16-20.12.26 800,000 EUR 796,432.60 815,896.00 0.09 Crh Fin 1.375% 16-18.10.28 140,000 EUR 141,013.60 135,255.68 0.02 Cs Gr Fund 1.25% 15-14.04.22 750,000 EUR 753,781.32 765,525.00 0.09 Daimler 0.625% 15-05.03.20 640,000 EUR 652,810.97 648,038.38 0.07 Danone 1.25% 15-30.05.24 300,000 EUR 311,038.00 308,832.00 0.04 Delphi Auto 1.6% 16-15.09.28 140,000 EUR 134,079.40 133,982.38 0.02 Deut Tel If 1.5% 16-03.04.28 610,000 EUR 629,825.70 605,999.62 0.07


UBI SICAV




Dnb Bnk As 1.25% 17-01.03.27 Regs 140,000 EUR 139,777.40 141,253.00 0.02 Dsk Bk 3.875% (Frn) 13-04.10.23 140,000 EUR 149,083.20 146,039.32 0.02 Dt An Fin 0.75% 17-25.01.22 600,000 EUR 599,836.29 602,429.99 0.07 Dvb Bank Se 1.25% 16-15.09.21 300,000 EUR 306,522.00 307,920.59 0.04 Easyjet Plc 1.125% 16-18.10.23 280,000 EUR 277,908.40 279,020.56 0.03 Edf 3.875% 12-18.01.22 800,000 EUR 942,548.00 925,822.38 0.11 Edp 5.375% 15-16.09.75 200,000 EUR 213,150.00 219,653.59 0.03 Efsf 1.875% 13-23.05.23 4,035,000 EUR 4,556,239.05 4,443,745.38 0.51 Enagas Fin 1.375% 16-05.05.28 200,000 EUR 202,840.80 197,680.60 0.02 Enbw Intl 2.5% 14-04.06.26 190,000 EUR 219,562.90 213,958.23 0.02 Enel 5% 14-15.01.75 470,000 EUR 506,512.50 509,568.36 0.06 Enexis 0.875% 16-28.04.26 200,000 EUR 197,236.80 195,641.80 0.02 Eni 1.5% 15-02.02.26 510,000 EUR 529,742.40 515,444.23 0.06 Esb Fin 2.125% 15-08.06.27 140,000 EUR 148,386.00 149,581.88 0.02 Eurogrid 1.5% 16-18.04.28 200,000 EUR 204,975.00 200,371.20 0.02 Evonik Fin 0% 16-08.03.21 500,000 EUR 494,816.50 493,331.49 0.06 Exor S.P.A 2.125% 15-02.12.22 190,000 EUR 201,058.00 200,472.61 0.02 Fca Bank Ie 1% 17-15.11.21 760,000 EUR 756,694.00 762,936.62 0.09 Fce Bk 1.615% 16-11.05.23 270,000 EUR 279,562.00 274,688.27 0.03 Fedex Corp 1% 16-11.01.23 140,000 EUR 143,150.00 140,782.87 0.02 Fer D Stato 1.5% 17-27.06.25 190,000 EUR 188,727.00 187,948.00 0.02 Fer Emsn 1.375% 17-31.03.25 Regs 300,000 EUR 298,070.00 299,807.40 0.03 Fil Intl 2.5% 16-04.11.26 140,000 EUR 139,816.60 143,052.00 0.02 Finmeccan 1.5% 17-07.06.24 190,000 EUR 188,379.30 187,587.00 0.02 France 1.75% 16-25.06.39 Oat 5,342,000 EUR 5,362,256.54 5,501,319.75 0.63 France 2.25% 12-25.10.22 Oat 4,812,000 EUR 5,395,057.05 5,384,098.68 0.62 France 4.25% 06-25.10.23 16,467,000 EUR 20,968,691.85 20,721,578.46 2.38 France O.A. 2% 25.05.48 /Oat 9,530,000 EUR 10,238,174.30 9,852,990.57 1.13 Fresenius 1.5% 17-30.01.24 190,000 EUR 190,641.00 191,972.20 0.02 G4s Int Fin 1.5% 17-02.06.24 190,000 EUR 188,850.50 189,145.00 0.02 Galp Gas Na 1.375% 16-19.09.23 300,000 EUR 296,956.00 298,173.29 0.03 Gas Nat Fen 3.875% 13-11.04.22 500,000 EUR 587,780.00 578,403.02 0.07 Gdf Suez 1% 15-13.03.26 500,000 EUR 510,461.87 496,223.99 0.06 Ge Cap Eur 0.8% 15-21.01.22 730,000 EUR 747,963.84 740,747.78 0.09 General Motors 0.955% 07.09.23 300,000 EUR 294,518.00 290,172.00 0.03 Germany 0.25% 14-11.10.19 19,061,000 EUR 19,557,524.10 19,411,913.58 2.23 Germany 0.5% 16-15.02.26 6,354,000 EUR 6,515,264.52 6,455,028.35 0.74 Germany 1.5% 13-15.05.23 9,187,000 EUR 10,260,568.79 10,036,522.07 1.15 Germany 2.5% 14-15.08.46 5,120,000 EUR 6,870,540.40 6,677,350.76 0.77 Germany 4% 05-04.01.37 2,240,000 EUR 3,687,406.70 3,429,876.96 0.39 Heathrow Fd 1.875% 14-23.05.24 310,000 EUR 333,805.70 329,384.29 0.04 Heidlrg 1.5% 16-07.02.25 Reg-S 190,000 EUR 188,859.10 192,284.94 0.02 Heineken Nv 1% 16-04.05.26 610,000 EUR 614,578.75 599,367.72 0.07 Holcim Fin 1.375% 16-26.05.23 280,000 EUR 291,131.65 285,657.68 0.03 Hsbc Hldg 1.5% 16-15.03.22 660,000 EUR 689,154.53 687,092.32 0.08 Hutch Wham 1.375% 14-31.10.21 240,000 EUR 249,432.00 246,906.24 0.03 Iberdrola I 1.75% 15-17.09.23 300,000 EUR 320,064.00 317,199.30 0.04 Imp Tob 1.375% 17-27.01.25 Regs 380,000 EUR 379,277.60 377,832.87 0.04 Ing Groep 2.5% (Frn) 17-15.02.29 600,000 EUR 631,122.00 625,091.99 0.07 Intesa San 0.875% 17-27.06.22 190,000 EUR 189,114.60 190,095.00 0.02 Intesa San 6.625% 08.05.18 Emtn 500,000 EUR 532,560.00 524,650.00 0.06 Intesa San 6.625% 13-13.09.23 Emtn 270,000 EUR 317,007.00 331,319.16 0.04 Ireland 1% 16-15.05.26 5,650,000 EUR 5,610,605.10 5,707,065.11 0.66 Ireland 2.4% 14-15.05.30 1,808,000 EUR 2,129,146.06 2,049,939.31 0.24 Is Vita 5.35% 13-18.09.18 /Sub 200,000 EUR 217,152.00 211,708.40 0.02 Italgas 0.5% 17-19.01.22 Regs 190,000 EUR 189,762.50 189,367.11 0.02 Italy 0% 17-30.05.19 /Ctz 42,950,000 EUR 43,039,336.00 42,983,757.84 4.93 Italy 0.05% 16-15.10.19 /Btp 21,620,000 EUR 21,462,218.67 21,607,676.82 2.48 Italy 0.3% 15-15.10.18 /Btp 57,694,000 EUR 58,028,552.77 58,145,513.24 6.67 Italy 0.65% 15-01.11.20 /Btp 25,360,000 EUR 25,658,740.80 25,653,517.15 2.94 Italy 0.65% 16-15.10.23 /Btp 10,160,000 EUR 9,594,443.60 9,747,707.30 1.12 Italy 0.75% 14-15.01.18 /Btp 30,877,000 EUR 31,185,061.27 31,047,625.38 3.56 Italy 1.05% 14-01.12.19 /Btp 27,562,000 EUR 28,289,106.26 28,190,413.32 3.23


UBI SICAV




Italy 1.25% 16-01.12.26 /Btp 640,000 EUR 589,537.25 597,777.29 0.07 Italy 1.5% 15-01.06.25 /Btp 3,626,000 EUR 3,648,183.93 3,548,925.64 0.41 Italy 2.2% 17-01.06.27 /Btp 3,402,000 EUR 3,385,481.10 3,420,636.09 0.39 Italy 2.7% 16-01.03.47 /Btp 2,160,000 EUR 1,878,058.20 1,926,465.16 0.22 Italy 2.8% 16-01.03.67 /Btp 2,654,000 EUR 2,460,778.36 2,213,754.56 0.25 Italy 3.45% 17-01.03.48 Btp 3,665,000 EUR 3,626,737.40 3,724,739.50 0.43 Italy 4.5% 04-01.02.20 /Btp 15,670,000 EUR 17,465,155.20 17,422,501.46 2.00 Italy Frn 11-15.04.18 9,021,000 EUR 9,136,886.42 9,096,108.85 1.04 Itv 2% 16-01.12.23 140,000 EUR 139,937.00 142,518.04 0.02 Japan 0.1% 16-20.09.21 710,450,000 JPY 5,973,488.59 5,585,421.97 0.64 Japan 1.2% 14-20.12.34 1,413,900,000 JPY 13,804,258.01 12,388,843.03 1.42 Japan 1.4% 10-20.03.20 1,640,550,000 JPY 14,947,726.46 13,317,323.82 1.53 Japan 1.5% 14-20.12.44 986,050,000 JPY 10,226,233.47 9,036,544.53 1.04 Japan 1.7% 14-20.03.54 178,900,000 JPY 1,943,913.78 1,710,696.67 0.20 Johnson Ctl 1% 17-15.09.23 300,000 EUR 297,965.00 296,355.61 0.03 Jpmorgan Ch 1.5% 15-26.10.22 560,000 EUR 587,944.00 582,479.51 0.07 Kbc 0.75% 16-18.10.23 200,000 EUR 197,450.00 197,832.00 0.02 Kellogg Co 1% 16-17.05.24 610,000 EUR 612,960.00 603,143.59 0.07 Kering 1.375% 14-01.10.21 200,000 EUR 209,345.00 208,320.01 0.02 Koninklijke 1.125% 16-11.09.28 400,000 EUR 381,298.40 377,160.00 0.04 Liberty Mut 2.75% 16-04.05.26 200,000 EUR 213,949.00 213,506.39 0.02 Linde Finance 1% 16-20.04.28 370,000 EUR 373,708.30 364,412.99 0.04 Lloyds Bk 1% 16-09.11.23 760,000 EUR 749,324.66 758,966.38 0.09 Mapfre 1.625% 16-19.05.26 200,000 EUR 203,811.00 200,401.79 0.02 Mcdonalds 1.125% 15-26.05.22 200,000 EUR 206,861.80 204,594.19 0.02 Mediobanca 0.75% 17-17.02.20 300,000 EUR 300,624.00 302,369.41 0.03 Metrovacesa 2.375% 16-23.05.22 200,000 EUR 212,564.00 211,187.19 0.02 Mol 2.625% 16-28.04.23 300,000 EUR 313,360.00 318,000.00 0.04 Mor St 1% 16-02.12.22 730,000 EUR 732,533.53 734,366.85 0.08 Nn Group 1% 15-18.03.22 310,000 EUR 318,512.91 313,949.71 0.04 Nordea Bank 2% 14-17.02.21 470,000 EUR 506,430.08 499,306.37 0.06 Nykredit 0.75% 16-14.07.21 140,000 EUR 140,855.40 140,606.48 0.02 Partnerre 1.25% 16-15.09.26 300,000 EUR 293,625.00 286,225.80 0.03 Pemex 3.75% 17-21.02.24 380,000 EUR 387,528.20 393,372.97 0.05 Peugeot 2% 17-23.03.24 Regs 460,000 EUR 462,200.00 465,900.88 0.05 Pohjola Bk 0.75% 15-03.03.22 440,000 EUR 449,805.80 444,994.01 0.05 Pricelineco 0.8% 17-10.03.22 300,000 EUR 300,070.00 298,825.79 0.03 Pubfp 1.625% 14-16.12.24 200,000 EUR 211,388.00 207,729.60 0.02 Rabobk 1.375% 15-03.02.27 800,000 EUR 835,938.48 813,976.02 0.09 Rbs Grp 2.5% 16-22.03.23 200,000 EUR 205,573.01 212,342.00 0.02 Rci Bq 0.5% 16-15.09.23 370,000 EUR 362,888.30 358,222.90 0.04 Saipem Fin 3% 16-08.03.21 230,000 EUR 236,800.00 234,869.09 0.03 Sampo Bk 1% 16-18.09.23 140,000 EUR 139,945.40 139,411.86 0.02 San Con 0.9% 15-18.02.20 800,000 EUR 812,964.00 814,656.01 0.09 Santander 1.375% 17-09.02.22 Regs 400,000 EUR 403,874.00 409,768.80 0.05 Scor Se 3.625% 16-27.05.48 200,000 EUR 208,625.00 216,500.00 0.02 Seb Frn 07-Perp 300,000 EUR 319,450.00 309,540.00 0.04 Shb 2.656% 14-15.01.24 750,000 EUR 782,547.97 775,288.52 0.09 Socgen 0.75% 16-19.02.21 500,000 EUR 510,464.37 508,216.52 0.06 Solvay 1.625% 15-02.12.22 200,000 EUR 210,773.00 208,571.40 0.02 Spain 0.25% 15-30.04.18 40,321,000 EUR 40,600,098.59 40,522,605.00 4.65 Spain 0.75% 16-30.07.21 14,850,000 EUR 15,198,186.30 15,257,618.24 1.75 Spain 1.45% 17-31.10.27 6,416,000 EUR 6,367,815.84 6,312,702.40 0.72 Spain 1.5% 17-30.04.27 11,370,000 EUR 11,235,645.17 11,340,893.14 1.30 Spain 4.2% 05-31.01.37 2,684,000 EUR 3,290,091.28 3,422,100.00 0.39 Spanish Gov 2.75% 14-31.10.24 2,543,000 EUR 2,813,568.51 2,854,263.15 0.33 St Gobain 3.625% 12-15.06.21 200,000 EUR 231,640.00 225,269.61 0.03 Statoil 0.875% 15-17.02.23 300,000 EUR 308,023.00 304,054.80 0.04 Swiss Re Ad 1.375% 16-27.05.23 470,000 EUR 482,663.87 483,389.83 0.06 Swisscom Ag 1.875% 14-08.09.21 140,000 EUR 150,899.00 148,299.76 0.02 Telecom It 2.5% 17-19.07.23 310,000 EUR 313,378.80 326,344.44 0.04 Telefonica 5.597% 12-12.03.20 500,000 GBP 643,919.49 632,936.86 0.07 Tennet 2.995% (Frn) 17-Perp Regs 180,000 EUR 182,952.00 184,500.00 0.02


UBI SICAV




Terna 0.875% 15-02.02.22 140,000 EUR 144,060.00 142,024.97 0.02 Teva Pharm 0.375% 16-25.07.20 260,000 EUR 260,390.00 259,032.28 0.03 Thermo Fish 1.375% 16-12.09.28 310,000 EUR 300,236.91 294,667.71 0.03 Thyssenkp 1.375% 17-03.03.22 280,000 EUR 278,007.87 279,529.60 0.03 Total Infra 2.2% 15-05.08.25 200,000 EUR 210,700.00 212,520.60 0.02 Total Sa 3.369% 16-Perp 300,000 EUR 299,780.00 305,370.00 0.04 Toyota 0.75% 15-21.07.22 370,000 EUR 379,770.80 375,623.99 0.04 Ubs Group F 1.75% 15-16.11.22 480,000 EUR 507,708.00 505,174.55 0.06 Uk 1.5% 16-22.07.26 9,128,000 GBP 10,656,394.88 10,676,526.90 1.23 Uk 4.25% 03-07.03.36 780,000 GBP 1,253,455.31 1,235,939.72 0.14 Uk 4.25% 08-07.12.49 273,000 GBP 503,050.21 494,495.78 0.06 Uk 4.5% 08-07.03.19 Tbo 1,553,000 GBP 1,926,157.34 1,891,784.67 0.22 Uk 4.75% 04-07.12.38 1,000,000 GBP 1,754,810.60 1,728,452.47 0.20 Uk 4.75% 05-07.03.20 4,096,000 GBP 5,300,379.18 5,211,521.65 0.60 Unibail Rod 1.5% 17-29.05.29 280,000 EUR 279,512.80 277,523.68 0.03 Unicredit 2.125% 16-24.10.26 460,000 EUR 456,958.80 472,535.91 0.05 Unicredit 6.95% 31.10.22 Emtn 390,000 EUR 458,915.00 470,394.59 0.05 Ups 1% 16-15.11.28 140,000 EUR 140,938.00 134,295.56 0.02 Usa 0.375% 17-15.01.27 /Infl 32,250,000 USD 29,821,685.19 28,069,571.34 3.22 Usa 0.625% 12-30.09.17 Tbo 9,900,000 USD 9,155,587.88 8,668,371.78 0.99 Usa 1.5% 16-15.08.26 /Tbo 5,265,000 USD 4,561,943.49 4,317,917.61 0.50 Usa 2.125% 14-31.12.21 /Tbo 24,422,000 USD 23,108,485.01 21,683,135.75 2.49 Usa 2.25% 14-15.11.24 /Tbo 1,780,000 USD 1,686,527.28 1,568,979.03 0.18 Usa 2.25% 16-15.08.46 /Tbo 7,890,000 USD 6,265,953.00 6,090,571.47 0.70 Usa 2.625% 10-15.11.20 Tbo 2,112,000 USD 2,034,869.12 1,910,728.07 0.22 Usa 3.75% 08-15.11.18 Tbo 18,737,000 USD 18,120,865.32 16,959,078.31 1.95 Usa 6.25% 99-15.05.30 Bonds 1,212,000 USD 1,657,194.16 1,513,779.78 0.17 Valeo Sa 0.625% 17-11.01.23 200,000 EUR 198,579.00 199,173.20 0.02 Verizon Com 1.625% 14-01.03.24 270,000 EUR 282,511.00 275,913.54 0.03 Vodafone 2.2% 16-25.08.26 370,000 EUR 397,343.00 392,680.99 0.05 Vw Intl 1.875% 17-30.03.27 Regs 700,000 EUR 700,896.00 699,068.98 0.08 Wells Fargo 1.5% 15-12.09.22 660,000 EUR 691,044.29 685,825.81 0.08

677,877,035.83 665,255,858.78 76.33

Fondi d’Investimento Cs Etf S&P 500 /Usd 10,850 EUR 2,000,476.35 2,200,705.50 0.25 Dbxt Har Csi300 -1D- /Dis 38,450 EUR 349,695.06 361,430.00 0.04 Ishares Msci Japan 14,300 EUR 165,210.76 169,955.50 0.02 Ishares Plc-Usd Corp Bond 127,000 EUR 13,281,976.60 12,887,043.04 1.48 Ishs V Msci Japan Etf -Eur /Cap 77,500 EUR 3,083,058.50 3,567,325.00 0.41 Sou Con Dis S&P Ac Ex Tr A Usd 3,800 USD 869,260.01 954,413.96 0.11 Sou Con Sta S&P Ac Ex Tr A Usd 650 USD 210,793.11 215,035.07 0.02 Sou Fin S&P Ac Ex Tr Fd A Usd 18,050 USD 2,219,288.74 2,684,634.87 0.31 Sou Ind S&P — Ac Ex Tr A Usd 1,700 USD 439,340.16 505,037.26 0.06 Sou Tech S&P Us Ac Ex Tr A Usd 5,750 USD 593,548.61 660,743.40 0.08 Source S&P 500 -A- Etf Usd /Dis 16,500 USD 5,568,193.15 6,120,781.10 0.70 Ubi Euro Hy -I- Cap* 1,500,000 EUR 7,500,000.00 7,506,000.00 0.86

36,280,841.05 37,833,104.70 4.34

Azioni Agco Corp. 7,000 USD 328,052.86 413,544.31 0.05 Akzo Nobel Nv (Eur 2) 9,500 EUR 741,978.78 722,855.00 0.08 Allergan Plc 8,650 USD 1,726,772.79 1,843,366.79 0.21 Allianz Se /Nam. Vinkuliert 5,700 EUR 809,781.90 982,680.00 0.11 Alphabet Inc -C- 700 USD 517,138.73 557,649.69 0.06 Altaba Inc 8,500 USD 330,343.73 405,961.25 0.05 Amgen Inc 3,650 USD 530,647.19 551,099.76 0.06 Anadarko Petrol. Corp 8,900 USD 493,484.24 353,752.96 0.04 Anheuser-Busch Inbev Sa /Nv 4,900 EUR 548,592.04 473,879.00 0.05 Anthem Inc 2,300 USD 262,594.00 379,327.61 0.04 Apple Inc 14,100 USD 1,474,897.81 1,780,206.89 0.20



UBI SICAV




At&t 17,750 USD 595,860.56 587,102.22 0.07 Autogrill Spa 95,250 EUR 731,383.51 1,010,602.50 0.12 Bank of America Corp 51,700 USD 787,249.47 1,099,537.13 0.13 Bayer 6,200 EUR 558,058.74 701,840.00 0.08 Bme 27,800 EUR 740,877.08 878,897.00 0.10 Bp Plc 112,000 GBP 613,528.69 564,654.38 0.07 British American Tobacco (25p) 8,750 GBP 506,050.38 521,433.39 0.06 Cisco Systems Inc 30,050 USD 842,199.09 824,550.71 0.10 Citigroup Inc 8,600 USD 388,687.34 504,223.72 0.06 Deutsche Telekom /Nam. 82,400 EUR 1,229,705.46 1,295,328.00 0.15 Eni Spa Roma 80,700 EUR 1,098,364.84 1,062,012.00 0.12 Evonik Industr Shs 20,050 EUR 559,096.84 561,099.25 0.07 Express Scripts Holding Co 5,150 USD 339,421.62 288,223.02 0.03 Fiat Chrysler Automobiles Nv 58,600 EUR 366,535.76 540,878.00 0.06 Finmeccanica /Post Regroup. 50,100 EUR 553,798.27 728,955.00 0.08 France Telecom Sa 37,700 EUR 552,406.09 523,653.00 0.06 General Electric Co 12,600 USD 330,162.23 298,348.38 0.03 Gilead Sciences Inc 16,700 USD 1,140,044.62 1,036,228.63 0.12 Henkel /Vorzug. 6,300 EUR 738,424.13 759,150.00 0.09 Inditex 43,500 EUR 1,399,984.06 1,462,035.00 0.17 Intel Corp 8,350 USD 268,065.78 246,979.05 0.03 Intercept Pharm -Shs- 2,750 USD 335,525.62 291,875.60 0.03 Intesa Sanpaolo 290,000 EUR 658,047.46 805,040.00 0.09 Jeronimo Martins Sgps Sa 94,400 EUR 1,483,078.82 1,613,296.00 0.19 Koninklijke Ahold Delhaize N.V. 74,200 EUR 1,524,984.51 1,242,108.00 0.14 Lafargeholcim N Namen-Akt. 15,253 CHF 723,076.00 766,559.91 0.09 Livanova Plc 8,200 USD 432,728.09 440,012.27 0.05 Merck 10,700 USD 605,258.95 601,177.35 0.07 Microsoft Corp 9,150 USD 509,784.84 552,914.44 0.06 Mitsubishi Ufj Financial Group 35,700 JPY 166,055.99 210,203.34 0.02 Mylan Nv 9,350 USD 329,638.17 318,196.72 0.04 Nokia Oy 303,350 EUR 1,346,111.79 1,624,439.25 0.19 Nomura Holdings Inc 42,600 JPY 184,519.20 223,780.49 0.03 Nordea Bank Ab /Finn. Dep. Rec 94,150 EUR 905,849.90 1,048,831.00 0.12 Pentair Plc 5,800 USD 294,832.15 338,329.10 0.04 Pernod-Ricard 8,550 EUR 924,305.28 1,002,487.50 0.12 Procter & Gamble Co 2,500 USD 199,273.74 191,001.14 0.02 Prysmian Spa 72,500 EUR 1,661,648.29 1,866,875.00 0.21 Red Electrica Corporacion. Sa 29,600 EUR 583,407.76 541,532.00 0.06 Rio Tinto Plc /Reg. 10,250 GBP 320,368.31 378,350.18 0.04 Saipem Spa 218,150 EUR 854,940.85 705,497.10 0.08 Sampo Plc A 44,150 EUR 1,844,739.33 1,981,010.50 0.23 Scor Se 28,350 EUR 838,782.89 984,028.50 0.11 Shire Plc 28,100 GBP 1,546,289.61 1,355,889.63 0.16 Siemens Ag /Nam. 20,450 EUR 2,153,097.81 2,461,157.50 0.28 Sports Direct International 146,500 GBP 467,953.03 485,720.08 0.06 Sumitomo Mitsui Financial Gr. 8,400 JPY 258,961.66 286,941.75 0.03 Total Sa 46,100 EUR 2,032,758.16 1,995,438.50 0.23 Toyota Motor Corp 7,800 JPY 409,851.62 358,567.19 0.04 Unicredit Spa 50,150 EUR 690,512.13 819,952.50 0.09 Unilever Cert. of Shs 26,000 EUR 1,003,362.38 1,256,320.00 0.14 Vale / -A- /Sadr 50,300 USD 302,630.43 359,380.21 0.04 Vodafone Group Plc 197,350 GBP 499,894.07 489,274.26 0.06 Volkswagen Ag /Vorzug. 9,450 EUR 1,184,446.13 1,260,157.50 0.15 Wal-Mart Stores Inc 4,150 USD 263,418.82 275,332.69 0.03 Wellcare Health Plans Inc 1,850 USD 200,920.30 291,212.41 0.03 Yum Brands 4,850 USD 266,703.53 313,610.94 0.04

50,111,946.25 53,696,554.19 6.16




UBI SICAV





Fondi d’Investimento Ubi Gl Infl Lkd -I-Cap* 1,620,000 EUR 8,100,000.00 7,994,700.00 0.92

8,100,000.00 7,994,700.00 0.92



Opzioni Call Treasury Bonds Usa 21/07/17 156 621 USD 516,799.05 204,150.96 0.02 Call Treasury Bonds Usa 21/07/17 159 (621) USD (159,428.05) (51,037.74) (0.01) Put Eur/Jpy Spot - Cross Rates 25/08/17 123 51,700,000 EUR 281,765.00 129,870.40 0.02 Put Euro Bund 25/08/17 161 254 EUR 178,596.80 200,660.00 0.02

817,732.80 483,643.62 0.05




221

UBI SICAV





Fondi d’Investimento 5.26 Stati Uniti d’America 12.73

Banche e Istituzioni Finanziarie 2.74 Spagna 9.81

Holding e Società Finanziarie 1.47 Germania 6.55


Assicurazioni 0.85 Irlanda 4.95

Petrolio 0.81 Giappone 4.95

Retail 0.68 Gran Bretagna 3.52

Servizi Pubblici 0.56 Lussemburgo 2.36

Organismi Sovranazionali 0.51 Paesi bassi 1.50

Industria Automobilistica 0.41 Belgio 0.78

Tabacco e alcolici 0.41 Austria 0.64

Computer e materiale d’ufficio 0.37 Finlandia 0.49

Farmaceutica e Cosmetica 0.35 Australia 0.35

Chimica 0.31 Svezia 0.31

Cibo e bevande 0.29 Jersey 0.28

Beni d’investimento 0.28 Portogallo 0.25

Intrattenimento 0.23 Svizzera 0.15

Software e Servizi Internet 0.22 Messico 0.10

Trasporti 0.22 Guernsey 0.09

Varie 0.21 Norvegia 0.06

Biotecnologia 0.20 Brasile 0.04

Tecnologia Aerospaziale 0.14 Danimarca 0.04

Costruzioni e Materiali da Costruzione 0.14 Ungheria 0.04

Beni di consumo 0.14 Isole Cayman 0.03

Educazione Sanitaria e Servizi Sociali 0.12 Bermuda 0.02

Società Immobiliari 0.12 Cassa e Altre Attività / (Passività) 12.20




Semiconduttori elettronici 0.06




Metalli non ferrosi 0.04 Altri servizi 0.02


100.00

100.00

222

UBI SICAV




netto


Obbligazioni A2a 1.25% 17-16.03.24 470,000 EUR 476,815.00 470,188.00 0.08 Ab Inbev 0.625% 16-17.03.20 700,000 EUR 712,880.00 709,176.98 0.11 Abbey Natl 0.875% 14-13.01.20 470,000 EUR 479,550.40 477,565.10 0.08 Abn Amro 1% 15-16.04.25 550,000 EUR 564,025.00 555,699.66 0.09 Acea 1% 16-24.10.26 570,000 EUR 552,615.00 543,598.75 0.09 Allianz Se 2.241% 15-07.07.45 500,000 EUR 507,500.00 502,447.51 0.08 Amer Movil 1.5% 16-10.03.24 270,000 EUR 274,835.70 273,816.71 0.04 Apple Inc 1.625% 14-10.11.26 570,000 EUR 605,169.00 593,112.94 0.10 Arkema 1.5% 15-20.01.25 200,000 EUR 206,220.00 205,467.19 0.03 Arrfp 2.25% 14-16.01.20 200,000 EUR 210,582.00 210,459.00 0.03 Assgen 5.5% 15-27.10.47 300,000 EUR 334,875.00 334,125.00 0.05 Att 1.45% 14-01.06.22 550,000 EUR 566,115.00 564,285.68 0.09 Australia 3.25% 13-21.04.25 2,490,000 AUD 1,847,279.86 1,762,577.16 0.28 Austria 0.75% 16-20.10.26 2,750,000 EUR 2,807,254.80 2,778,297.47 0.44 Austria 1.5% 16-20.02.47 440,000 EUR 438,605.20 429,840.84 0.07 Austria 4.15% 06-15.03.37 569,000 EUR 905,629.31 855,295.75 0.14 Axa 5.25% (Frn) 10-16.04.40 /Sub 150,000 EUR 168,225.00 167,895.30 0.03 Belgium 0.8% 17-22.06.27 Regs 3,810,000 EUR 3,841,885.30 3,808,163.47 0.61 Bfcm 2.625% 14-18.03.24 600,000 EUR 677,214.00 670,136.99 0.11 Bmw Fin 0.125% 17-12.01.21 550,000 EUR 551,237.50 548,225.69 0.09 Bnpp 2.25% 16-11.01.27 300,000 EUR 304,020.00 303,147.61 0.05 Boa 2.5% 13-27.07.20 Regs 600,000 EUR 643,644.00 640,609.22 0.10 Bpce 1.125% 17-18.01.23 500,000 EUR 509,450.00 506,142.01 0.08 Bpcm 2.994% 12-18.02.19 570,000 EUR 599,982.00 597,065.87 0.10 Bqe Postale 3% 16-09.06.28 200,000 EUR 215,520.00 214,175.60 0.03 Britel 1.5% 17-23.06.27 140,000 EUR 138,856.20 136,724.00 0.02 Carrefour 1.25% 15-03.06.25 570,000 EUR 584,820.00 576,511.70 0.09 Cassa Depo 1.5% 17-21.06.24 200,000 EUR 198,620.00 195,732.00 0.03 Citigp 1.5% 16-26.10.28 470,000 EUR 460,835.00 455,374.07 0.07 Cnp Assur 1.875% 16-20.10.22 200,000 EUR 209,160.00 208,703.00 0.03 Coca Cola 1.125% 15-09.03.27 300,000 EUR 298,632.00 297,497.70 0.05 Comzbk 1.125% 17-24.05.24 270,000 EUR 270,712.80 269,546.94 0.04 Credit Agri 1.875% 16-20.12.26 700,000 EUR 717,199.00 713,909.00 0.11 Cs Gr Fund 1.25% 15-14.04.22 630,000 EUR 646,128.00 643,041.00 0.10 Daimler 0.625% 15-05.03.20 550,000 EUR 559,856.00 556,907.98 0.09 Danone 1.25% 15-30.05.24 200,000 EUR 206,420.00 205,888.00 0.03 Deut Tel If 1.5% 16-03.04.28 570,000 EUR 578,835.00 566,261.94 0.09 Dt An Fin 0.75% 17-25.01.22 500,000 EUR 506,500.00 502,025.00 0.08 Dvb Bank Se 1.25% 16-15.09.21 200,000 EUR 205,520.00 205,280.40 0.03 Edf 3.875% 12-18.01.22 700,000 EUR 818,650.00 810,094.59 0.13 Efsf 1.875% 13-23.05.23 2,923,000 EUR 3,274,688.29 3,219,099.81 0.51 Enel 5% 14-15.01.75 340,000 EUR 369,750.00 368,623.92 0.06 Eni 1.5% 15-02.02.26 470,000 EUR 481,341.10 475,017.24 0.08 Evonik Fin 0% 16-08.03.21 470,000 EUR 467,509.00 463,731.60 0.07 Fca Bank Ie 1% 17-15.11.21 630,000 EUR 634,410.00 632,434.31 0.10 Fer D Stato 1.5% 17-27.06.25 140,000 EUR 139,062.00 138,488.00 0.02 Fer Emsn 1.375% 17-31.03.25 Regs 200,000 EUR 200,356.00 199,871.60 0.03 France 1.75% 16-25.06.39 Oat 3,859,400 EUR 3,960,525.43 3,974,502.71 0.64 France 2.25% 12-25.10.22 Oat 3,476,000 EUR 3,911,081.77 3,889,261.64 0.62 France 4.25% 06-25.10.23 11,899,000 EUR 15,185,794.58 14,973,344.39 2.39 France O.A. 2% 25.05.48 /Oat 6,880,000 EUR 7,391,252.80 7,113,176.82 1.14 Galp Gas Na 1.375% 16-19.09.23 200,000 EUR 199,020.00 198,782.20 0.03 Gas Nat Fen 3.875% 13-11.04.22 500,000 EUR 584,250.00 578,403.02 0.09 Gdf Suez 1% 15-13.03.26 500,000 EUR 506,000.00 496,223.99 0.08 Ge Cap Eur 0.8% 15-21.01.22 630,000 EUR 645,813.00 639,275.48 0.10 Germany 0.25% 14-11.10.19 15,254,000 EUR 15,630,082.70 15,534,826.60 2.48 Germany 0.5% 16-15.02.26 4,584,000 EUR 4,747,007.04 4,656,885.42 0.74 Germany 1.5% 13-15.05.23 6,643,000 EUR 7,384,513.51 7,257,278.34 1.16 Germany 2.5% 14-15.08.46 3,700,000 EUR 4,970,084.90 4,825,429.26 0.77 Germany 4% 05-04.01.37 1,623,000 EUR 2,637,734.81 2,485,129.60 0.40


UBI SICAV




Heineken Nv 1% 16-04.05.26 570,000 EUR 568,860.00 560,064.92 0.09 Holcim Fin 1.375% 16-26.05.23 280,000 EUR 289,296.00 285,657.68 0.05 Hsbc Hldg 1.5% 16-15.03.22 550,000 EUR 575,850.00 572,576.93 0.09 Hutch Wham 1.375% 14-31.10.21 270,000 EUR 276,021.00 277,769.53 0.04 Iberdrola I 1.75% 15-17.09.23 200,000 EUR 212,110.00 211,466.20 0.03 Imp Tob 1.375% 17-27.01.25 Regs 300,000 EUR 299,379.00 298,289.11 0.05 Ing Groep 2.5% (Frn) 17-15.02.29 500,000 EUR 527,285.00 520,910.00 0.08 Intesa San 0.875% 17-27.06.22 170,000 EUR 169,207.80 170,085.00 0.03 Intesa San 6.625% 08.05.18 Emtn 500,000 EUR 527,600.00 524,650.00 0.08 Ireland 1% 16-15.05.26 4,080,000 EUR 4,113,096.10 4,121,208.08 0.66 Ireland 2.4% 14-15.05.30 1,303,000 EUR 1,530,598.96 1,477,362.23 0.24 Italy 0% 17-30.05.19 /Ctz 31,040,000 EUR 31,104,563.20 31,064,396.82 4.96 Italy 0.05% 16-15.10.19 /Btp 14,250,000 EUR 14,188,333.42 14,241,877.64 2.27 Italy 0.3% 15-15.10.18 /Btp 27,801,000 EUR 27,987,513.39 28,018,570.63 4.47 Italy 0.65% 15-01.11.20 /Btp 18,340,000 EUR 18,559,690.20 18,552,267.53 2.96 Italy 0.65% 16-15.10.23 /Btp 7,334,000 EUR 6,987,982.89 7,036,386.35 1.12 Italy 0.75% 14-15.01.18 /Btp 5,119,000 EUR 5,172,807.73 5,147,287.44 0.82 Italy 1.05% 14-01.12.19 /Btp 19,922,000 EUR 20,422,999.16 20,376,221.40 3.25 Italy 1.25% 16-01.12.26 /Btp 1,030,000 EUR 969,703.26 962,047.83 0.15 Italy 1.5% 15-01.06.25 /Btp 2,625,000 EUR 2,611,698.15 2,569,202.92 0.41 Italy 2.2% 17-01.06.27 /Btp 2,462,000 EUR 2,465,536.70 2,475,486.79 0.40 Italy 2.7% 16-01.03.47 /Btp 1,556,000 EUR 1,369,486.52 1,387,768.42 0.22 Italy 2.8% 16-01.03.67 /Btp 1,922,000 EUR 1,686,229.68 1,603,178.70 0.26 Italy 3.45% 17-01.03.48 Btp 2,650,000 EUR 2,671,234.00 2,693,195.00 0.43 Italy 4.5% 04-01.02.20 /Btp 12,550,000 EUR 13,988,734.20 13,953,566.90 2.23 Italy Frn 11-15.04.18 4,350,000 EUR 4,389,889.50 4,386,218.10 0.70 Japan 0.1% 16-20.09.21 410,600,000 JPY 3,411,559.21 3,228,058.64 0.52 Japan 1.2% 14-20.12.34 817,750,000 JPY 7,748,114.98 7,165,270.80 1.14 Japan 1.4% 10-20.03.20 948,000,000 JPY 8,360,824.59 7,695,482.00 1.23 Japan 1.5% 14-20.12.44 569,800,000 JPY 5,690,070.09 5,221,868.13 0.83 Japan 1.7% 14-20.03.54 103,300,000 JPY 1,093,564.42 987,786.28 0.16 Jpmorgan Ch 1.5% 15-26.10.22 570,000 EUR 598,443.00 592,880.93 0.10 Kellogg Co 1% 16-17.05.24 570,000 EUR 570,946.20 563,593.19 0.09 Koninklijke 1.125% 16-11.09.28 300,000 EUR 284,283.00 282,870.00 0.05 Linde Finance 1% 16-20.04.28 300,000 EUR 296,616.00 295,469.99 0.05 Lloyds Bk 1% 16-09.11.23 630,000 EUR 630,945.00 629,143.19 0.10 Mor St 1% 16-02.12.22 630,000 EUR 638,253.00 633,768.65 0.10 Nordea Bank 2% 14-17.02.21 470,000 EUR 503,088.00 499,306.37 0.08 Pemex 3.75% 17-21.02.24 270,000 EUR 279,315.00 279,501.85 0.05 Peugeot 2% 17-23.03.24 Regs 470,000 EUR 477,637.50 476,029.16 0.08 Pohjola Bk 0.75% 15-03.03.22 470,000 EUR 480,293.00 475,334.51 0.08 Rabobk 1.375% 15-03.02.27 800,000 EUR 828,523.29 813,976.02 0.13 Rbs Grp 2.5% 16-22.03.23 160,000 EUR 169,977.60 169,873.60 0.03 Rci Bq 0.5% 16-15.09.23 300,000 EUR 291,378.00 290,451.00 0.05 San Con 0.9% 15-18.02.20 700,000 EUR 714,581.00 712,824.01 0.11 Santander 1.375% 17-09.02.22 Regs 300,000 EUR 308,250.00 307,326.60 0.05 Shb 2.656% 14-15.01.24 630,000 EUR 654,255.00 651,242.36 0.10 Socgen 0.75% 16-19.02.21 500,000 EUR 510,850.00 508,216.52 0.08 Spain 0.75% 16-30.07.21 10,730,000 EUR 11,018,800.80 11,024,528.20 1.76 Spain 1.45% 17-31.10.27 4,604,000 EUR 4,569,423.96 4,529,875.60 0.72 Spain 1.5% 17-30.04.27 8,210,000 EUR 8,126,133.23 8,188,982.65 1.31 Spain 4.2% 05-31.01.37 1,937,000 EUR 2,420,050.09 2,469,675.00 0.39 Spanish Gov 2.75% 14-31.10.24 1,845,000 EUR 2,060,362.83 2,070,827.96 0.33 Swiss Re Ad 1.375% 16-27.05.23 470,000 EUR 486,732.00 483,389.83 0.08 Telefonica 5.597% 12-12.03.20 500,000 GBP 638,707.20 632,936.86 0.10 Toyota 0.75% 15-21.07.22 270,000 EUR 275,211.00 274,103.99 0.04 Ubs Group F 1.75% 15-16.11.22 470,000 EUR 498,660.60 494,650.08 0.08 Uk 1.5% 16-22.07.26 5,276,000 GBP 6,214,965.21 6,171,051.26 0.99 Uk 4.25% 03-07.03.36 448,000 GBP 723,382.36 709,873.07 0.11 Uk 4.25% 08-07.12.49 157,000 GBP 291,832.47 284,380.35 0.05 Uk 4.5% 08-07.03.19 Tbo 903,000 GBP 1,109,703.42 1,099,988.12 0.18 Uk 4.75% 04-07.12.38 580,000 GBP 1,023,167.07 1,002,502.43 0.16 Uk 4.75% 05-07.03.20 2,362,000 GBP 3,042,899.93 3,005,276.89 0.48


UBI SICAV




Unicredit 2.125% 16-24.10.26 470,000 EUR 472,726.00 482,808.43 0.08 Unicredit 6.95% 31.10.22 Emtn 270,000 EUR 328,050.00 325,657.79 0.05 Usa 0.375% 17-15.01.27 /Infl 18,630,000 USD 17,044,387.32 16,215,073.31 2.59 Usa 0.625% 12-30.09.17 Tbo 6,600,000 USD 5,979,580.58 5,778,914.53 0.92 Usa 1.5% 16-15.08.26 /Tbo 3,044,000 USD 2,604,405.25 2,496,437.07 0.40 Usa 2.125% 14-31.12.21 /Tbo 14,124,000 USD 13,123,617.97 12,540,029.87 2.00 Usa 2.25% 14-15.11.24 /Tbo 1,030,000 USD 954,430.48 907,892.36 0.15 Usa 2.25% 16-15.08.46 /Tbo 4,560,000 USD 3,603,319.77 3,520,026.10 0.56 Usa 2.625% 10-15.11.20 Tbo 1,225,000 USD 1,155,074.05 1,108,258.46 0.18 Usa 3.75% 08-15.11.18 Tbo 11,226,000 USD 10,637,880.23 10,160,784.18 1.62 Usa 6.25% 99-15.05.30 Bonds 700,000 USD 909,016.18 874,295.25 0.14 Vodafone 2.2% 16-25.08.26 270,000 EUR 289,440.00 286,550.99 0.05 Vw Intl 1.875% 17-30.03.27 Regs 600,000 EUR 606,780.00 599,201.98 0.10 Wells Fargo 1.5% 15-12.09.22 550,000 EUR 576,895.00 571,521.51 0.09

397,715,258.74 391,462,278.84 62.51

Fondi d’Investimento Cs Etf S&P 500 /Usd 17,400 EUR 3,363,276.35 3,529,242.00 0.56 Dbxt Har Csi300 -1D- /Dis 67,700 EUR 621,641.78 636,380.00 0.10 Ishares Msci Japan 24,450 EUR 289,125.66 290,588.25 0.05 Ishares Plc-Usd Corp Bond 46,000 EUR 4,811,143.32 4,667,747.87 0.75 Ishs V Msci Japan Etf -Eur /Cap 122,050 EUR 5,115,371.57 5,617,961.50 0.90 Sou Con Dis S&P Ac Ex Tr A Usd 6,100 USD 1,463,395.99 1,532,085.56 0.24 Sou Con Sta S&P Ac Ex Tr A Usd 1,100 USD 365,991.51 363,905.50 0.06 Sou Fin S&P Ac Ex Tr Fd A Usd 27,350 USD 3,585,697.03 4,067,853.95 0.65 Sou Ind S&P — Ac Ex Tr A Usd 2,700 USD 738,523.01 802,118.00 0.13 Sou Tech S&P Us Ac Ex Tr A Usd 8,800 USD 966,447.46 1,011,224.69 0.16 Source S&P 500 -A- Etf Usd /Dis 26,550 USD 9,388,634.89 9,848,893.22 1.57 Ubi Euro Hy -I- Cap* 700,000 EUR 3,500,000.00 3,502,800.00 0.56 Ubi Sicav Euro Corp Bond I* 1,700,000 EUR 13,524,122.61 13,579,600.00 2.17

47,733,371.18 49,450,400.54 7.90

Azioni Agco Corp. 10,200 USD 517,999.62 602,593.14 0.10 Akzo Nobel Nv (Eur 2) 24,850 EUR 1,922,967.58 1,890,836.50 0.30 Allergan Plc 19,950 USD 4,030,063.50 4,251,464.45 0.68 Allianz Se /Nam. Vinkuliert 12,050 EUR 1,821,156.01 2,077,420.00 0.33 Alphabet Inc -C- 1,050 USD 825,330.80 836,474.53 0.13 Altaba Inc 12,000 USD 505,395.93 573,121.77 0.09 Amgen Inc 6,600 USD 960,056.52 996,509.16 0.16 Anadarko Petrol. Corp 21,450 USD 1,020,894.21 852,584.38 0.14 Anheuser-Busch Inbev Sa /Nv 13,950 EUR 1,501,711.45 1,349,104.50 0.22 Anthem Inc 3,550 USD 462,332.70 585,483.91 0.09 Apple Inc 19,850 USD 2,269,397.53 2,506,177.79 0.40 At&t 31,200 USD 1,060,355.86 1,031,976.86 0.16 Autogrill Spa 174,400 EUR 1,437,500.42 1,850,384.00 0.30 Bank of America Corp 69,500 USD 1,155,731.61 1,478,101.17 0.24 Bayer 12,000 EUR 1,155,750.58 1,358,400.00 0.22 Bme 59,950 EUR 1,684,840.16 1,895,319.25 0.30 Bp Plc 207,550 GBP 1,120,208.38 1,046,375.15 0.17 British American Tobacco (25p) 23,100 GBP 1,383,028.44 1,376,584.15 0.22 Cisco Systems Inc 53,300 USD 1,500,100.99 1,462,514.25 0.23 Citigroup Inc 15,850 USD 793,249.98 929,296.05 0.15 Deutsche Telekom /Nam. 193,600 EUR 3,026,437.34 3,043,392.00 0.49 Eni Spa Roma 186,750 EUR 2,556,134.77 2,457,630.00 0.39 Evonik Industr Shs 47,650 EUR 1,366,423.55 1,333,485.25 0.21 Express Scripts Holding Co 11,050 USD 658,068.36 618,420.27 0.10 Fiat Chrysler Automobiles Nv 97,900 EUR 644,815.16 903,617.00 0.14 Finmeccanica /Post Regroup. 88,700 EUR 1,045,119.48 1,290,585.00 0.21 France Telecom Sa 92,500 EUR 1,381,107.64 1,284,825.00 0.20 General Electric Co 24,200 USD 616,874.70 573,018.32 0.09



UBI SICAV




Gilead Sciences Inc 35,800 USD 2,237,875.19 2,221,376.35 0.35 Henkel /Vorzug. 15,100 EUR 1,817,587.94 1,819,550.00 0.29 Inditex 103,850 EUR 3,473,733.09 3,490,398.50 0.56 Intel Corp 14,800 USD 478,949.11 437,759.27 0.07 Intercept Pharm -Shs- 5,600 USD 640,671.53 594,364.86 0.09 Intesa Sanpaolo 732,600 EUR 1,739,492.08 2,033,697.60 0.32 Jeronimo Martins Sgps Sa 215,200 EUR 3,530,129.33 3,677,768.00 0.59 Koninklijke Ahold Delhaize N.V. 196,600 EUR 3,936,960.40 3,291,084.00 0.53 Lafargeholcim N Namen-Akt. 36,200 CHF 1,778,061.19 1,819,279.40 0.29 Livanova Plc 18,300 USD 961,700.37 981,978.61 0.16 Merck 19,350 USD 1,094,833.51 1,087,175.86 0.17 Microsoft Corp 16,150 USD 953,732.68 975,909.09 0.16 Mitsubishi Ufj Financial Group 101,300 JPY 560,007.62 596,459.34 0.09 Mylan Nv 16,800 USD 594,426.08 571,733.15 0.09 Nokia Oy 567,600 EUR 2,596,714.90 3,039,498.00 0.49 Nomura Holdings Inc 120,800 JPY 620,544.63 634,570.02 0.10 Nordea Bank Ab /Finn. Dep. Rec 207,150 EUR 2,113,875.78 2,307,651.00 0.37 Pentair Plc 9,300 USD 497,983.70 542,493.21 0.09 Pernod-Ricard 19,550 EUR 2,204,025.04 2,292,237.50 0.37 Procter & Gamble Co 4,550 USD 360,350.66 347,622.07 0.06 Prysmian Spa 165,150 EUR 3,944,980.88 4,252,612.50 0.68 Red Electrica Corporacion. Sa 69,400 EUR 1,391,736.62 1,269,673.00 0.20 Rio Tinto Plc /Reg. 15,350 GBP 510,174.40 566,602.46 0.09 Saipem Spa 549,350 EUR 2,045,129.97 1,776,597.90 0.28 Sampo Plc A 105,100 EUR 4,529,043.19 4,715,837.00 0.75 Scor Se 60,250 EUR 1,874,560.99 2,091,277.50 0.33 Shire Plc 76,150 GBP 3,979,890.80 3,674,412.64 0.59 Siemens Ag /Nam. 37,900 EUR 4,250,454.57 4,561,265.00 0.73 Sports Direct International 441,750 GBP 1,431,288.31 1,464,620.12 0.23 Sumitomo Mitsui Financial Gr. 27,500 JPY 924,212.80 939,392.62 0.15 Total Sa 114,300 EUR 5,114,791.39 4,947,475.50 0.79 Toyota Motor Corp 31,500 JPY 1,541,542.00 1,448,059.81 0.23 Unicredit Spa 117,400 EUR 1,694,132.36 1,919,490.00 0.31 Unilever Cert. of Shs 66,000 EUR 2,816,857.66 3,189,120.00 0.51 Vale / -A- /Sadr 88,800 USD 567,843.65 634,452.53 0.10 Vodafone Group Plc 354,750 GBP 897,907.66 879,503.63 0.14 Volkswagen Ag /Vorzug. 23,550 EUR 3,017,669.27 3,140,392.50 0.50 Wal-Mart Stores Inc 6,750 USD 446,840.29 447,830.28 0.07 Wellcare Health Plans Inc 2,800 USD 346,023.51 440,753.92 0.07 Yum Brands 10,400 USD 629,731.48 672,485.32 0.11

112,569,519.90 116,250,153.91 18.56




Fondi d’Investimento Ubi Gl Infl Lkd -I-Cap* 540,000 EUR 2,700,000.00 2,664,900.00 0.42

2,700,000.00 2,664,900.00 0.42



Opzioni Call Treasury Bonds Usa 21/07/17 156 363 USD 301,258.29 119,334.62 0.02 Call Treasury Bonds Usa 21/07/17 159 (363) USD (93,057.19) (29,833.65) - Put Eur/Jpy Spot - Cross Rates 25/08/17 123 37,000,000 EUR 201,650.00 92,944.00 0.01


226

UBI SICAV




Put Euro Bund 25/08/17 161 209 EUR 146,955.63 165,110.00 0.03 556,806.73 347,554.97 0.06




UBI SICAV







Comunicazioni

Retail

Petrolio


Assicurazioni


Tabacco e alcolici


Chimica



Cibo e bevande

Servizi Pubblici

Varie

Biotecnologia

Organismi Sovranazionali

Intrattenimento


Beni di consumo


Edifici commerciali





Metalli non ferrosi


Trasporti

Semiconduttori elettronici Elettronica e apparecchiature elettriche


56.38 Italia


3.69 Germania

2.51 Francia

2.07 Irlanda

1.90 Spagna

1.77 Giappone

1.68 Lussemburgo

1.04 Gran Bretagna

1.01 Paesi bassi

0.94 Finlandia

0.76 Belgio

0.73 Jersey

0.73 Austria

0.68 Portogallo

0.67 Svezia

0.65 Svizzera

0.51 Australia

0.51 Brasile

0.41 Guernsey

0.38 Messico

0.35 Isole Cayman


0.30

0.29

0.21

0.19

0.10

0.09

0.08

0.08

0.07

0.03

10.55

27.79

12.64

8.59

7.41

6.94

5.86

4.45

3.81

3.62

2.61

1.32

0.94

0.67

0.65

0.62

0.55

0.37

0.28

0.10

0.10

0.09

0.04

10.55

100.00

100.00

228

UBI SICAV




netto


Obbligazioni Abn Amro 4.75% 15-28.07.25 1,500,000 USD 1,444,172.00 1,387,174.54 0.64 Adient Glob 3.5% 16-15.08.24 500,000 EUR 497,500.00 507,075.01 0.24 Afdb 0.5% 10-29.09.20 940,000 AUD 600,198.96 583,755.78 0.27 Afdb 0.5% 11-21.09.21 350,000 NZD 200,466.55 196,416.06 0.09 Aig 1.875% 17-21.06.27 550,000 EUR 548,509.50 543,840.00 0.25 Alba Frn 07-17.03.39 2007-1 B 542,508 GBP 576,408.30 565,814.84 0.26 Allergan Fd 0.5% 17-01.06.21 600,000 EUR 597,222.00 598,806.61 0.28 Amc Entert Hldg 6.375% 15.11.24 150,000 GBP 166,703.70 183,080.25 0.08 Anadko Pet 5.55% 16-15.03.26 1,500,000 USD 1,563,032.94 1,469,492.42 0.68 Argentina 5% 16-15.01.27 1,000,000 EUR 968,750.00 935,100.00 0.43 Arr Gbl Fin 5.125% 16-15.09.24 500,000 GBP 542,580.43 589,206.35 0.27 At&T Inc 3.55% 17-14.09.37 300,000 GBP 338,830.53 331,731.72 0.15 Att 4.35% 13-15.06.45 750,000 USD 636,731.47 611,663.89 0.28 Austria 5.375% 04-01.12.34 144a 200,000 CAD 177,394.82 178,063.05 0.08 Autodis Sa 4.375% 16-01.05.22 200,000 EUR 200,000.00 207,000.00 0.10 Barclays 3.65% 15-16.03.25 1,550,000 USD 1,392,353.52 1,351,613.04 0.63 Becton Dick 0.368% 17-06.06.19 600,000 EUR 600,000.00 601,980.00 0.28 Belgium 0.8% 17-22.06.27 Regs 1,000,000 EUR 997,700.00 999,517.97 0.46 Bgaria-Flir 2.95% 14-03.09.24 415,000 EUR 461,572.50 462,351.50 0.21 Bgaria-Flir 3.125% 15-26.03.35 1,000,000 EUR 1,032,000.00 1,028,000.00 0.48 Bnpp 2.25% 16-11.01.27 700,000 EUR 695,527.00 707,344.41 0.33 Boa 1.776% 17-04.05.27 800,000 EUR 800,000.00 803,651.98 0.37 Brazil Minas 5.333% 13-15.02.28 200,000 USD 181,660.11 170,874.02 0.08 Brazil Rep 2.875% 14-01.04.21 2,395,000 EUR 2,484,185.00 2,465,413.05 1.14 Cablevis Sys 8.625% 10-15.09.17 345,000 USD 329,249.52 306,347.42 0.14 Catalent 4.75% 16-15.12.24 140,000 EUR 140,000.00 149,836.40 0.07 Cco Hldgs 5.5% 16-01.05.26 650,000 USD 609,949.38 602,527.83 0.28 Cenovus Energy 4.45% 12-15.09.42 750,000 USD 605,153.25 538,583.76 0.25 Cequel Comm 5.125% 13-15.12.21 600,000 USD 550,520.46 535,197.69 0.25 Chemours 6.125% 15.05.23 550,000 EUR 524,562.50 580,187.31 0.27 Chile 1.875% 15-27.05.30 300,000 EUR 311,916.00 312,000.00 0.14 Cinemark Usa 5.125% 15.12.22 450,000 USD 422,785.73 405,717.98 0.19 Citigroup I 4.4% 15-10.06.25 1,400,000 USD 1,358,932.14 1,283,404.93 0.59 Colombia Re 3.875% 16-22.03.26 2,000,000 EUR 2,258,000.00 2,276,600.00 1.05 Comzbk 7.75% 11-16.03.21 /Sub 1,000,000 EUR 1,193,500.00 1,223,079.99 0.57 Coop Group 7.5% 11-08.07.26 400,000 GBP 541,086.45 551,519.91 0.26 Corp Andina 4.375% 12-15.06.22 825,000 USD 819,637.95 781,894.89 0.36 Cpuk Fin 4.25% 17-28.08.22 100,000 GBP 114,889.70 114,493.90 0.05 Cpuk Fin 4.875% 17-28.08.25 100,000 GBP 114,889.70 115,427.52 0.05 Credit Agri 1.375% 17-03.05.27 300,000 EUR 296,871.00 300,870.00 0.14 Cs Gr Fund 3.8% 16-09.06.23 900,000 USD 832,957.00 813,408.44 0.38 Cs Gr Fund 4.55% 16-17.04.26 450,000 USD 433,315.58 419,067.66 0.19 Cte Co Tran 2.125% 17-29.07.32 400,000 EUR 396,684.00 401,320.00 0.19 Darling Glb 4.75% 15-30.05.22 500,000 EUR 527,500.00 525,000.00 0.24 Deut Bk 1.875% 17-28.02.20 600,000 GBP 708,707.73 685,370.27 0.32 Devon Energ 5.6% 11-15.07.41 750,000 USD 714,558.55 682,850.46 0.32 Dish Dbs 7.75% 16-01.07.26 400,000 USD 396,957.90 415,534.32 0.19 Dynegy 7.375% 15-01.11.22 625,000 USD 559,081.11 541,060.31 0.25 Eastman Che 1.875% 16-23.11.26 400,000 EUR 397,224.00 409,040.00 0.19 Eastman Che 3.8% 14-15.03.25 1,134,000 USD 1,080,422.91 1,019,754.99 0.47 Eib 0.5% 11-21.06.23 5,020,000 AUD 2,945,172.83 2,877,202.96 1.33 Eib 0.5% 11-21.07.23 2,000,000 AUD 1,189,003.12 1,119,000.03 0.52 Eib 4.6% 07-30.01.37 144a 900,000 CAD 752,429.46 741,356.60 0.34 Eibk 3.5% 16-28.07.21 1,000,000 NZD 657,392.90 634,653.44 0.29 Endo 6% 15-01.02.25 800,000 USD 608,420.10 571,578.86 0.26 Enter Inns 6.375% 16-15.02.22 425,000 GBP 484,713.15 523,368.34 0.24 Fidelity Nl 0.4% 17-15.01.21 700,000 EUR 699,419.00 698,180.00 0.32 Fidelity Nl 1.1% 17-15.07.24 600,000 EUR 598,632.00 593,820.00 0.28 First Data 7% 15-01.12.23 650,000 USD 624,771.96 608,288.77 0.28 Ford Motor Cred 4.134% 04.08.25 1,500,000 USD 1,427,031.11 1,337,665.44 0.62


UBI SICAV




Gen Elec 1.5% 17-17.05.29 750,000 EUR 744,300.00 740,370.02 0.34 Gen Elec 2.125% 17-17.05.37 500,000 EUR 495,260.00 489,397.51 0.23 General Motors 5.25% 16-01.03.26 1,500,000 USD 1,498,737.42 1,420,443.59 0.66 Germany 0% 16-08.10.21 445,000 EUR 453,813.55 450,740.50 0.21 Germany 0.25% 17-15.02.27 640,000 EUR 635,236.40 626,524.81 0.29 Greece 3.8% 97-08.08.17 33,000,000 JPY 280,722.63 254,476.51 0.12 Greece 4.5% 97-03.07.17 30,000,000 JPY 256,517.87 233,095.12 0.11 Healthsouth 5.75% 12-01.11.24 425,000 USD 396,175.02 382,358.42 0.18 Heineken Nv 2.02% 17-12.05.32 350,000 EUR 349,461.00 349,822.56 0.16 Hellenc 2% 12-24.02.23 /Steup 285,000 EUR 248,363.25 265,449.00 0.12 Hellenic 2% 12-24.02.24 Stup 1,015,000 EUR 888,005.00 933,800.00 0.43 Hellenic 2% 12-24.02.27 Stup 1,655,000 EUR 1,413,330.00 1,461,199.50 0.68 Hellenic 2% 12-24.02.28/Stup 430,000 EUR 356,252.10 365,414.00 0.17 Hellenic 2% 12-24.02.31/Stup 1,200,000 EUR 954,600.00 953,520.00 0.44 Hellenic 2% 12-24.02.32/Stup 355,000 EUR 277,965.00 278,426.50 0.13 Hellenic 3% 12-24.02.25 St-Up 690,000 EUR 615,480.00 624,657.00 0.29 Hellenic Re 3.375% 14-17.07.17 900,000 EUR 884,940.00 900,450.00 0.42 Hellenic St-Up 12-24.02.29 310,000 EUR 253,115.00 255,905.00 0.12 Helnc 2% 12-24.02.26 S4/Stup 400,000 EUR 355,600.00 358,040.00 0.17 Hungary 5.375% 13-21.02.23 3,000,000 USD 3,114,983.06 2,927,675.99 1.36 Hydro-Queb. 8.25% 87-27 Gq 15.01.27 250,000 USD 331,320.97 295,952.49 0.14 Iceland 2.5% 14-15.07.20 200,000 EUR 215,750.00 212,920.00 0.10 In Justit 3.125% 15.07.24 Regs 150,000 EUR 150,000.00 149,415.00 0.07 Indonesia 3.375% 30.07.25 Reg-S 100,000 EUR 107,050.00 109,070.00 0.05 Indonesia 3.75% 16-14.06.28 2,500,000 EUR 2,731,250.00 2,740,500.00 1.27 Intl Fin 4.13% 14-27.07.21 1,000,000 NZD 681,485.81 648,306.15 0.30 Intl Fin 4.13% 14-27.08.19 1,500,000 NZD 1,025,612.96 981,840.60 0.45 Ireland 2.4% 14-15.05.30 600,000 EUR 684,084.00 680,289.59 0.32 Ireland 5.4% 09-13.03.25 1,000,000 EUR 1,403,000.00 1,357,600.00 0.63 Israel 1.5% 17-18.01.27 900,000 EUR 911,250.00 912,600.00 0.42 Italy 4.5% 10-01.03.26 /Btp 7,235,000 EUR 9,088,112.97 8,732,174.73 4.04 Italy 6% 98-04.08.28 2,000,000 GBP 2,833,099.89 2,801,092.69 1.30 Jab Holding 1.25% 17-22.05.24 300,000 EUR 298,086.00 302,010.00 0.14 Japan 0.5% 16-20.09.36 1,800,000,000 JPY 16,188,250.54 13,900,054.32 6.43 Japan 0.5% 16-20.09.46 100,000,000 JPY 835,505.06 714,343.26 0.33 Japan 0.6% 16-20.12.36 150,000,000 JPY 1,256,082.99 1,176,673.66 0.55 Japan 0.7% 17-20.03.37 60,000,000 JPY 491,555.01 477,896.13 0.22 Jbic 2.25% 17-24.02.20 200,000 USD 188,785.61 176,088.37 0.08 Jfm 1.375% 13-05.02.18 400,000 USD 374,703.68 349,644.95 0.16 Jica 1.875% 14-13.11.19 600,000 USD 548,735.55 521,732.27 0.24 Kb Home 7.5% 12-15.09.22 425,000 USD 417,496.60 420,603.58 0.19 Kindred Hlt 8% 15-15.01.20 575,000 USD 525,189.23 529,280.27 0.25 Kommkrdt 4.06% 13-24.11.20 2,044,000 AUD 1,491,978.55 1,443,621.94 0.67 Kommuninv 1.5% 15-12.05.25 13,000,000 SEK 1,378,051.43 1,367,890.23 0.63 Ksa Sukuk 2.894% 20.04.22 Regs 435,000 USD 409,565.95 382,145.61 0.18 Leg Immo 1.25% 17-23.01.24 Regs 600,000 EUR 596,454.00 603,094.80 0.28 Lynx I 7% 13-15.04.23 500,000 GBP 588,706.82 607,952.79 0.28 Lyondellbas 4.625% 15-26.02.55 750,000 USD 654,894.79 644,045.34 0.30 Malaysia 4.048% 14-30.09.21 3,860,000 MYR 829,555.94 799,654.14 0.37 Mexico 3.375% 16-23.02.31 2,000,000 EUR 2,257,500.00 2,099,400.00 0.97 Mexico 3.625% 14-09.04.29 2,000,000 EUR 2,332,000.00 2,226,200.00 1.03 Mexico 7.5% 06-03.06.27 Bonos 450,000 MXN 2,285,837.34 2,297,466.57 1.06 Mgm Gr 4.5% 17-01.09.26 450,000 USD 399,854.23 396,960.20 0.18 Micron Tech 5.5% 15-01.02.25 119,000 USD 106,647.36 109,120.72 0.05 Mor St 1.375% 16-27.10.26 1,000,000 EUR 980,770.00 967,687.00 0.45 Mpt Op Ptnr 3.325% 17-24.03.25 500,000 EUR 500,000.00 510,073.51 0.24 Mylan 3.125% 16-22.11.28 400,000 EUR 400,391.00 424,723.20 0.20 Netflix 3.625% 17-15.05.27 Regs 375,000 EUR 375,000.00 380,625.00 0.18 Newbelco 2.85% 17-25.05.37 250,000 GBP 290,608.13 278,716.25 0.13 Nn Group 4.625% 17-13.01.48 300,000 EUR 296,667.00 322,125.00 0.15 North Am 2.4% 12-26.10.22 150,000 USD 138,794.41 128,628.39 0.06 Nrg Energy 6.625% 13-15.03.23 550,000 USD 512,598.35 494,479.27 0.23 Nwb 2.25% 17-02.03.22 400,000 USD 375,393.62 352,590.51 0.16


UBI SICAV




Nz Lgfa 4.5% 14-15.04.27 1,500,000 NZD 1,061,081.66 1,018,523.87 0.47 Ontario 2.4% 17-08.02.22 175,000 USD 162,236.06 154,597.41 0.07 Panama 8.875% 97-30.09.27 1,200,000 USD 1,602,754.62 1,491,610.41 0.69 Paragon 13frn 15.01.39 13x B1b 400,000 EUR 347,000.00 353,734.25 0.16 Paragon Frn 15.06.41 10x B1a 522,872 GBP 540,996.46 544,664.91 0.25 Paragon Mtg Frn 15.06.41 224,088 EUR 205,600.74 204,350.78 0.09 Pargn Frn 15.11.38 12x B1b Regs 400,000 EUR 358,400.00 360,621.89 0.17 Pemex 2.5% 17-21.08.21 500,000 EUR 506,750.00 510,125.01 0.24 Pemex 3.75% 17-21.02.24 100,000 EUR 99,463.00 103,519.20 0.05 Pemex 5.125% 16-15.03.23 800,000 EUR 881,150.00 899,632.02 0.42 Pemex 8.25% 09-02.06.22 200,000 GBP 278,834.09 278,105.40 0.13 Peru 2.75% 15-30.01.26 1,800,000 EUR 2,002,500.00 1,966,320.00 0.91 Petbra 5.875% 11-07.03.22 200,000 EUR 208,800.00 220,597.20 0.10 Petrobras 3.75% 14-14.01.21 500,000 EUR 503,750.00 517,177.01 0.24 Poland 5% 11-23.03.22 1,000,000 USD 990,249.58 973,612.69 0.45 Portugal 5.65% 13-15.02.24 4,085,000 EUR 4,750,515.00 4,976,347.00 2.30 Portugal R 5.125% 14-15.10.24 2,000,000 USD 1,823,976.55 1,772,069.78 0.82 Rep Dominican 7.5% 06.05.21 /Pool 1,000,000 USD 1,014,102.56 964,548.08 0.45 Rep of Cypr 3.75% 16-26.07.23 2,600,000 EUR 2,706,600.00 2,837,900.00 1.31 Rep of Cypr 4.25% 15-04.11.25 1,000,000 EUR 1,072,250.00 1,125,700.00 0.52 Rmacs Frn 12.06.44 06- Ns3xm1c 569,769 EUR 513,931.39 512,791.86 0.24 Rms 29 Frn 20.12.46 29 A Regs 620,000 GBP 724,638.02 710,144.51 0.33 Romania 2.375% 17-19.04.27 Regs 200,000 EUR 199,366.00 199,300.00 0.09 Romania 3.875% 15-29.10.35 1,000,000 EUR 1,122,500.00 1,046,900.00 0.48 Russia 4.5% 12-04.04.22 4,000,000 USD 3,860,257.23 3,700,184.10 1.71 Saudi Ara 3.25% 16-26.10.26 1,000,000 USD 900,985.13 868,677.13 0.40 Sci Games 10% 14-01.12.22 225,000 USD 187,313.26 216,232.36 0.10 Silk Bidco 7.5% 15-01.02.22 500,000 EUR 531,250.00 532,500.00 0.25 Slft A 2.90% 16-15.11.29 Aa A 800,000 USD 742,896.48 704,683.51 0.33 Slovenia 5.25% 18.02.24 Regs 2,700,000 USD 2,861,857.03 2,708,047.69 1.25 Slovenia 5.85% 13-10.05.23 2,000,000 USD 2,177,655.68 2,042,956.08 0.95 South Afr 3.75% 14-24.07.26 300,000 EUR 312,747.00 309,330.00 0.14 South Africa 10.5% 97-21.12.26 19,000,000 ZAR 1,416,144.64 1,418,922.85 0.66 Spain 1.3% 16-31.10.26 4,000,000 EUR 4,060,960.00 3,959,200.00 1.83 Spain 4.65% 10-30.07.25 3,120,000 EUR 3,869,557.31 3,953,040.00 1.83 Spain 5.25% 99-06.04.29 1,578,000 GBP 2,109,513.51 2,093,818.72 0.97 Spectrum Br 4% 16-01.10.26 500,000 EUR 514,225.00 519,380.50 0.24 Sprint Nex 7% 01.03.20 144a 07.00 425,000 USD 422,557.69 409,023.84 0.19 Stacr 14 Frn 25.10.27 Dna1 M3 1,000,000 USD 972,113.55 980,000.09 0.45 Standard Pa 5.25% 16-01.06.26 575,000 USD 523,180.24 522,359.30 0.24 Synlab Bond Frn 16-01.07.22 500,000 EUR 500,000.00 507,100.00 0.24 Tenet Hlthc 8.125% 13-01.04.22 800,000 USD 713,894.07 744,279.83 0.34 Tesco Plc 5% 06-24.03.23 500,000 GBP 597,896.06 627,778.58 0.29 Tokyo Metro 1.625% 13-06.06.18 600,000 USD 554,901.42 522,836.85 0.24 Total Sa 3.875% 16-Perp 1,000,000 EUR 1,067,400.00 1,077,938.00 0.50 Travis Perk 4.375% 14-15.09.21 400,000 GBP 466,995.78 475,919.33 0.22 Turkey 4.35% 13-12.11.21 2,500,000 EUR 2,687,350.00 2,708,250.00 1.25 Turkey 9% 14-24.07.24 740,000 TRY 178,629.47 172,593.62 0.08 Turkey Rep 3.25% 17-14.06.25 150,000 EUR 148,684.50 148,215.00 0.07 Turkey Rep 5.75% 17-11.05.47 320,000 USD 287,193.20 274,329.80 0.13 Ubs Group F 3.491% 17-23.05.23 350,000 USD 325,938.72 313,916.88 0.15 Uk 4.25% 03-07.03.36 1,685,000 GBP 2,688,672.15 2,669,946.71 1.24 Univision C 6.75% 12-15.09.22 425,000 USD 408,357.85 387,481.37 0.18 Usa 2% 15-15.02.25 /Tbo 2,000,000 USD 1,839,770.35 1,729,064.40 0.80 Usa 2.25% 15-15.11.25 /Tbo 5,745,000 USD 5,347,210.44 5,036,971.39 2.33 Usa 2.875% 16-15.11.46 /Tbo 10,000 USD 9,113.60 8,824.08 - Utd Rentals 5.5% 15-15.07.25 775,000 USD 694,950.11 711,815.11 0.33 Verizon Com 5.012% 15-21.08.54 750,000 USD 714,215.46 650,061.37 0.30 Vw Intl Fin 2.7% 17-Perp 1,400,000 EUR 1,396,598.00 1,389,080.00 0.64 Vwr Funding 4.625% 15-15.04.22 500,000 EUR 519,750.00 518,811.99 0.24


231

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Ziggo Bond 4.625% 15-15.01.25 500,000 EUR 506,000.00 529,175.00 0.25 187,684,551.27 182,358,870.23 84.41




Obbligazioni Hca 7.5% 11-15.02.22 500,000 USD 505,720.17 504,624.35 0.23

505,720.17 504,624.35 0.23

Valori mobiliari e strumenti del mercato monetario trattati su un altro mercato

regolamentato 505,720.17 504,624.35 0.23


Obbligazioni Abfc Frn 04-25.06.34 Opt5 A1 1,387,306 USD 1,224,069.84 1,197,878.15 0.55 Auckland Co 3.5% 15-09.03.26 500,000 AUD 352,298.42 336,936.06 0.16 Bank 2017 3.02% 15.06.60 Bnk5 A3 1,000,000 USD 904,262.69 878,416.76 0.41 Cim Frn 17-25.01.57 3 A1 144a 877,162 USD 814,359.22 780,238.20 0.36 Citm Frn 25.10.37 1 1a 913,030 USD 859,068.67 794,360.45 0.37 Csmc Frn 26.12.46 Rpl1 A1 144a 2,072,341 USD 1,952,729.97 1,812,185.44 0.84 Dbjpm 17 3.269% 10.06.50 C6 A3 1,200,000 USD 1,095,720.00 1,071,853.63 0.50 Dbwf Frn 16-11.12.36 85t E 2,300,000 USD 1,958,220.46 1,907,588.38 0.88 Eibk 2.711% 14-05.12.19 3,000,000 CAD 2,090,070.91 2,051,549.04 0.95 Eibk 4.46% 14-26.09.19 458,000 NZD 314,177.98 299,641.42 0.14 Jpmcc 2017- 3.1085% 15.07.50 1,400,000 USD 1,260,918.85 1,234,186.34 0.57 Jpmcc 3.3422% 15.03.50 Jp5 A3 450,000 USD 429,502.08 403,233.77 0.19 Jpmcc Frn 16.10.34 Ash Xcp 83,940,000 USD 1,226,795.27 651,239.59 0.30 Mabs 2004-O Frn 25.09.34 Opt2 A1 1,088,314 USD 950,246.05 895,206.55 0.41 Msbam 3.295% 17-15.05.50 C33 A3 2,000,000 USD 1,845,220.06 1,775,651.62 0.82 Msc H1 3.153% 15.06.50 H1 A3 1,300,000 USD 1,173,863.16 1,147,585.68 0.53 Odart 3.91% 16.08.21 1a C 144a 600,000 USD 562,214.45 526,595.34 0.24 Ripon 1x A1 Frn 20.08.56 1a 1,100,000 GBP 1,283,557.25 1,246,743.34 0.58 Slft 3.86% 17-15.07.30 Aa C 200,000 USD 179,424.19 175,287.38 0.08 Springleaf 3.62% 15.11.24 Aa B 1,100,000 USD 1,036,734.28 972,380.81 0.45 Tow Mt Frn 16-20.02.54 V1x A1 370,556 GBP 436,789.47 424,538.51 0.20 Tpmf A Frn 17-20.05.45 A11a A2 600,000 GBP 697,278.42 676,505.90 0.31 Welf 2017-1 Frn 20.04.29 1a A1 1,250,000 USD 1,162,682.54 1,095,270.45 0.51 Wf 2017-R 3.258% 15.03.50 2,200,000 USD 2,056,770.90 1,960,317.65 0.91 Wfcm 15.12.49 16-C37 Xb 48,314,000 USD 1,286,718.85 1,138,070.64 0.53 Wfcml Frn 17.12.59 Lc25 Xb 103,770,000 USD 1,621,668.83 1,496,464.01 0.69

28,775,362.81 26,949,925.11 12.48



Opzioni Call Eur /Brl Spot - Cross Rates 04/04/18 3 1,000,000 EUR 93,240.00 160,434.00 0.08 Call Eur/Brl Spot - Cross Rates 04/04/18 4 (1,000,000) EUR (42,470.00) (78,447.00) (0.04) Put Eur /Brl Spot - Cross Rates 04/04/18 3 (1,000,000) EUR (12,870.00) (4,697.00) -

37,900.00 77,290.00 0.04


TOTALE DEGLI INVESTIMENTI 217,003,534.25 209,890,709.69 97.16 Le note allegate formano parte integrante del rendiconto finanziario.

232

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Varie 3.98

Organismi Sovranazionali 3.72

Petrolio 2.93


Comunicazioni 1.29

Software e Servizi Internet 1.16

Chimica 0.93




Altri servizi 0.58


Retail 0.55


Assicurazioni 0.40





OBBLIGAZIONI DI CANTONI SVIZZERI 0.08



100.00


Giappone 8.25

Gran Bretagna 6.16

Italia 5.34

Spagna 4.63

Messico 3.90

Paesi bassi 3.22

Grecia 3.20

Portogallo 3.12

Lussemburgo 2.47

Slovenia 2.20

Cipro 1.83

Russia 1.71

Germania 1.67

Turchia 1.53

Corea del Sud 1.38

Ungheria 1.36

Indonesia 1.32

Irlanda 1.21

Brasile 1.14

Francia 1.12

Colombia 1.05

Peru 0.91

Sudafrica 0.80

Isole Cayman 0.77

Svezia 0.70

Bulgaria 0.69

Panama 0.69

Danimarca 0.67

Nuova Zelanda 0.63

Belgio 0.59

Guernsey 0.57

Romania 0.57

Canada 0.46

Repubblica Dominicana 0.45

Polonia 0.45

Argentina 0.43

Israele 0.42

Saudi Arabia 0.40

Malesia 0.37

Costa d’Avorio 0.36

Venezuela 0.36

Jersey 0.34

Norvegia 0.25

Svizzera 0.15

Cile 0.14

Islanda 0.10 Austria 0.08


100.00

233

UBI SICAV




netto


Fondi d’Investimento Spdr S&P 500 Etf Trust S.1 1,400 USD 302,542.74 296,765.14 1.69

302,542.74 296,765.14 1.69

Azioni 21st Century -B- 2,100 USD 55,426.61 51,307.97 0.29 Abbott Laboratories Inc 3,500 USD 145,445.60 149,149.65 0.85 Abbvie Inc 3,000 USD 171,563.91 190,698.69 1.09 Accenture Plc 1,350 USD 137,593.45 146,373.28 0.83 Activision Blizzard Inc 2,300 USD 113,695.97 116,078.72 0.66 Adobe Systems Inc 1,160 USD 134,867.30 143,833.08 0.82 Advanced Energy Industries Inc 400 USD 20,124.22 22,684.32 0.13 Advansix Inc 60 USD 864.04 1,643.20 0.01 Aes Corp. 8,200 USD 89,037.73 79,865.00 0.46 Aetna Inc 710 USD 79,540.89 94,502.76 0.54 Aflac Inc 1,000 USD 69,024.99 68,098.54 0.39 Aig 2,400 USD 136,627.39 131,540.28 0.75 Alcoa Corp 1,400 USD 48,062.84 40,071.89 0.23 Alexion Pharmaceuticals Inc 230 USD 23,984.65 24,532.39 0.14 Allergan Plc 730 USD 147,106.49 155,567.37 0.89 Allstate Corp 800 USD 48,256.08 62,025.07 0.35 Alphabet Inc -A- 273 USD 197,645.47 222,497.27 1.27 Alphabet Inc -C- 400 USD 273,856.22 318,656.97 1.82 Altria Group 3,100 USD 199,044.70 202,381.87 1.15 Amazon Com Inc 138 USD 98,680.03 117,107.04 0.67 American Tower Corp 1,140 USD 114,283.05 132,238.80 0.75 Amgen Inc 1,090 USD 166,986.77 164,575.00 0.94 Anadarko Petrol. Corp 2,600 USD 134,722.05 103,343.56 0.59 Anthem Inc 780 USD 127,273.04 128,641.54 0.73 Apple Inc 3,820 USD 387,949.96 482,297.19 2.75 Applied Industrial Technolog. 200 USD 11,171.35 10,353.29 0.06 Applied Materials Inc 4,100 USD 110,925.98 148,479.88 0.85 Archer-Daniels Midland Co 1,400 USD 53,201.03 50,786.36 0.29 Arconic Inc 1,600 USD 39,211.66 31,769.97 0.18 Argan 1,200 USD 60,560.09 63,119.14 0.36 Assurant Inc 180 USD 17,113.12 16,362.06 0.09 At&t 5,000 USD 181,368.73 165,380.91 0.94 Avon Products Inc. 1,700 USD 7,661.13 5,663.19 0.03 Baldwin + Lyons Inc B 900 USD 21,277.79 19,330.24 0.11 Bank of America Corp 10,100 USD 140,723.17 214,803.19 1.22 Baxter Intl Inc 2,500 USD 105,689.26 132,681.69 0.76 Bb&T Corporation 800 USD 32,475.70 31,847.11 0.18 Berkshire Hathaway - B 590 USD 80,131.08 87,602.61 0.50 Biglari Hldg 50 USD 19,360.78 17,521.70 0.10 Bmc Stock Holdings Inc 300 USD 6,615.25 5,746.47 0.03 Bristol Myers Squibb Co 300 USD 14,828.41 14,654.16 0.08 Broadcom Limited 790 USD 171,745.17 161,400.46 0.92 Caci Int. Inc. -A- 270 USD 30,825.06 29,598.93 0.17 Capital One Financial Corp. 1,530 USD 132,480.06 110,816.69 0.63 Caterpillar Inc. 150 USD 14,192.32 14,130.80 0.08 Cbre Group -A- 3,100 USD 101,130.43 98,921.71 0.56 Celgene Corp. 1,580 USD 152,041.21 179,884.81 1.03 Centene Corp. De 100 USD 6,742.81 7,002.72 0.04 Centerpoint Energy Inc 1,400 USD 32,932.45 33,603.93 0.19 Cerner Corp 600 USD 34,374.91 34,962.74 0.20 Chemours Company Co. (The) 2,200 USD 59,879.48 73,134.04 0.42 Chesapeake Lodging Shs Ben Int 2,600 USD 54,938.49 55,774.52 0.32 Chevron Corporation 2,400 USD 229,769.85 219,507.32 1.25 Cigna Corp. 410 USD 58,870.81 60,164.72 0.34 Cisco Systems Inc 4,300 USD 125,025.10 117,988.95 0.67 Citi Trends Inc 1,000 USD 17,777.18 18,602.61 0.11


UBI SICAV




Citigroup Inc 2,000 USD 84,967.48 117,261.33 0.67 Cognizant Technology Sol. Corp 2,200 USD 108,762.87 128,061.72 0.73 Comcast Corp -A- 7,000 USD 245,684.27 238,835.80 1.36 Conagra Foods Inc 2,700 USD 85,267.87 84,642.76 0.48 Conocophillips 500 USD 17,586.49 19,268.87 0.11 Constellation Brand -A- 180 USD 29,482.52 30,570.18 0.17 Continental Building Products 800 USD 15,316.17 16,340.84 0.09 Cooper Strd Hldg 520 USD 47,481.93 45,982.64 0.26 Crane Co 200 USD 13,984.51 13,917.77 0.08 Csra Inc 1,200 USD 33,737.43 33,400.54 0.19 Csx Corp. 2,800 USD 125,265.28 133,924.78 0.76 Cummins Inc 720 USD 89,656.23 102,391.86 0.58 Cvs Caremark Corp 2,160 USD 162,888.32 152,356.97 0.87 Danaher Corp 1,700 USD 122,635.07 125,767.51 0.72 Deere & Co. 450 USD 43,873.10 48,755.59 0.28 Devon Energy Corp (New) 3,000 USD 121,361.71 84,079.95 0.48 Donnelley 400 USD 8,067.58 8,051.20 0.05 Dr Horton Inc 3,000 USD 81,538.08 90,917.86 0.52 Eagle Materials Inc 100 USD 8,171.42 8,102.04 0.05 Ebay Inc 1,100 USD 33,172.99 33,674.06 0.19 Electronic Arts 1,300 USD 97,898.90 120,483.91 0.69 Emerson Electric Co. 2,100 USD 123,461.96 109,758.92 0.63 Enersys Inc 100 USD 7,445.76 6,351.36 0.04 Engility Holdings Inc 700 USD 19,535.42 17,427.90 0.10 Eog Resources Inc 270 USD 21,740.03 21,425.79 0.12 Exelon Corp 500 USD 15,510.41 15,810.47 0.09 Express Scripts Holding Co 2,100 USD 129,103.49 117,527.83 0.67 Extend Stay /Unit 5,100 USD 81,770.47 86,557.38 0.49 Exxon Mobil Corp 3,500 USD 262,349.78 247,703.16 1.41 Facebook Inc -A- 2,750 USD 316,075.46 363,982.64 2.07 Fedex Corp 700 USD 133,722.24 133,366.35 0.76 Firstenergy Corp 3,300 USD 95,888.50 84,358.73 0.48 Fiserv Inc 180 USD 20,024.78 19,304.99 0.11 Flagstar Bancorp Inc 900 USD 22,123.39 24,316.65 0.14 Flexsteel Industries Inc. 400 USD 18,287.55 18,974.31 0.11 Ford Motor Co 5,900 USD 67,966.57 57,877.62 0.33 Fortive Corp 1,000 USD 51,888.75 55,536.07 0.32 Francesca S Holdings Corp 2,000 USD 27,399.86 19,181.20 0.11 Freeport Mcmoran Copper & Gold 5,200 USD 70,023.46 54,748.84 0.31 Ftd Companies Inc 2,600 USD 46,964.59 45,586.04 0.26 Gap Inc. 3,800 USD 79,476.41 73,255.02 0.42 General Electric Co 4,600 USD 120,889.00 108,920.84 0.62 General Motors 2,700 USD 89,071.53 82,678.18 0.47 Genuine Parts Co 400 USD 33,726.28 32,527.40 0.19 Gibraltar Industries Inc 900 USD 28,995.70 28,127.47 0.16 Gilead Sciences Inc 2,700 USD 176,063.26 167,533.97 0.96 Glbl Br&Copper Shs 1,700 USD 41,241.41 45,529.06 0.26 Gms Inc 2,000 USD 39,917.74 49,267.99 0.28 Goldman Sachs Group Inc 200 USD 29,706.02 38,905.94 0.22 Greif Inc 200 USD 9,658.57 9,779.96 0.06 Haverty Furniture Co 900 USD 16,023.61 19,803.63 0.11 Hca Holdings Inc 1,200 USD 96,518.61 91,733.15 0.52 Heartland Financial Usa Inc 800 USD 25,738.20 33,032.35 0.19 Herman Miller Inc. 300 USD 8,157.34 7,995.09 0.05 Hewlett Packard Ent Co 6,200 USD 92,024.03 90,170.95 0.51 Hilton Inc 300 USD 17,892.31 16,266.33 0.09 Honeywell International Inc. 310 USD 37,042.00 36,223.28 0.21 Hp Inc 7,000 USD 100,025.91 107,267.47 0.61 Huntington 70 USD 9,580.91 11,423.86 0.07 Illinois Tool Works 1,000 USD 114,450.67 125,580.78 0.72 Independent Bank Co 700 USD 10,247.14 13,347.07 0.08 Insight Enterprises Inc 400 USD 11,034.34 14,022.97 0.08 Intel Corp 7,000 USD 232,636.30 207,048.30 1.18


UBI SICAV




Intuit 1,060 USD 103,288.21 123,414.22 0.70 Invesco Mortgage Capital /Reit 700 USD 10,385.43 10,254.23 0.06 Itron Inc 200 USD 10,875.86 11,878.67 0.07 Johnson & Johnson 1,550 USD 163,068.76 179,757.61 1.02 Jpmorgan Chase & Co 4,640 USD 274,616.31 371,785.75 2.12 Juniper Networks Inc 2,400 USD 64,041.70 58,658.72 0.33 Kimberly Clark Corp 990 USD 111,668.68 112,053.04 0.64 Lam Research Corp 70 USD 9,037.66 8,678.97 0.05 Lennar Corp -B- 300 USD 9,654.51 11,826.95 0.07 Lennar Corp. -A- 200 USD 8,063.66 9,348.65 0.05 Liberty Med.Corp New/Interac-A 800 USD 17,133.87 17,210.48 0.10 Lkq 2,200 USD 63,231.01 63,548.70 0.36 Lockheed Martin Corp 600 USD 147,972.02 146,020.86 0.83 Lpl Investment Holdings Inc 300 USD 11,339.67 11,166.83 0.06 Lydall Inc 1,000 USD 43,429.90 45,323.05 0.26 Lyondellbasell Ind Nv -A- 1,500 USD 111,443.77 110,971.33 0.63 Macy S 1,200 USD 37,319.53 24,448.15 0.14 Marathon Petroleum Corporation 2,300 USD 107,475.18 105,513.28 0.60 Mastec Inc 800 USD 30,875.88 31,664.77 0.18 Mcdonald S Corp. 1,600 USD 164,712.54 214,829.49 1.22 Medtronic Holdings Limited 1,800 USD 138,399.14 140,045.59 0.80 Merck 2,000 USD 109,678.11 112,369.60 0.64 Metlife Inc 2,900 USD 139,060.47 139,673.88 0.80 Microsoft Corp 5,700 USD 299,904.41 344,438.50 1.96 Morgan Stanley 700 USD 21,005.88 27,344.61 0.16 Mylan Nv 1,400 USD 48,438.22 47,644.43 0.27 Navient Corp 5,200 USD 70,832.06 75,900.76 0.43 Newfield Exploration Co 2,800 USD 102,700.25 69,858.86 0.40 Norfolk Southern Corp. 1,100 USD 116,853.22 117,357.76 0.67 Northrop Grumman Corp 390 USD 73,634.82 87,767.95 0.50 Nutri Sys Inc New 900 USD 43,722.15 41,066.89 0.23 Nvr Inc 11 USD 22,178.31 23,246.00 0.13 Oracle Corp 4,900 USD 172,341.12 215,381.78 1.23 Oshkosh Corp 200 USD 12,934.79 12,076.80 0.07 Owens-Illinois Inc. 4,100 USD 63,080.18 85,975.28 0.49 Peapack-Glds 600 USD 10,998.93 16,458.32 0.09 Pepsico Inc 1,630 USD 154,010.51 165,029.10 0.94 Phillips-Van Heusen Corp 980 USD 90,258.15 98,369.42 0.56 Pnc Financial Services Gp 800 USD 67,723.17 87,574.30 0.50 Ppl Corp 2,300 USD 71,823.41 77,950.38 0.44 Procter & Gamble Co 2,580 USD 216,907.27 197,113.18 1.12 Prologis Inc 1,800 USD 90,885.98 92,532.66 0.53 Raymond James Fin. Inc 300 USD 20,486.00 21,097.57 0.12 Republic Bancorp Inc-A 200 USD 5,363.38 6,259.31 0.04 Ross Stores Inc 900 USD 50,320.81 45,548.35 0.26 S&P Global Shs 940 USD 113,614.81 120,303.85 0.69 Sherwin-Williams Co 360 USD 97,889.41 110,761.46 0.63 Southern Copper Corp 1,800 USD 60,764.41 54,645.39 0.31 State Street Corp 200 USD 14,693.23 15,732.45 0.09 Steel Dynamics Inc. 800 USD 17,383.40 25,114.40 0.14 Suntrust Banks Inc. 700 USD 33,518.57 34,806.70 0.20 T-Mobile Us Inc 1,500 USD 87,773.91 79,714.21 0.45 Target Corp 2,400 USD 144,721.34 110,016.66 0.63 Texas Instruments Inc 2,300 USD 143,003.79 155,114.40 0.88 The Geo Group Reit Inc 1,150 USD 32,315.08 29,811.08 0.17 The Rmr Group Inc 600 USD 20,752.15 25,589.55 0.15 Thermo Fisher Scientific Inc 690 USD 101,063.00 105,535.46 0.60 Tilly S -A- Shs 2,000 USD 19,299.00 17,796.09 0.10 Total System Services Inc 800 USD 42,098.11 40,852.11 0.23 Travelport Worldwide Ltd 600 USD 6,638.44 7,237.66 0.04 Tyson Foods Inc -A- 1,900 USD 122,324.46 104,319.28 0.59 Ulta Salon Cosmet & Frag Inc 20 USD 5,227.53 5,037.96 0.03 Union Pacific Corp. 1,680 USD 165,883.89 160,400.46 0.91


UBI SICAV




United Rentals Inc. 210 USD 20,664.08 20,749.63 0.12 Unitedhealth Group Inc 1,170 USD 146,112.36 190,182.69 1.08 Universal Forest Products Inc 230 USD 20,621.03 17,604.37 0.10 Unum Group 2,400 USD 104,525.05 98,108.18 0.56 Valero Ener. Corp 1,900 USD 118,444.09 112,364.34 0.64 Verizon Communications I. 5,700 USD 260,954.40 223,162.97 1.27 Vertex Pharmaceuticals 340 USD 35,764.53 38,411.33 0.22 Viacom Inc -B- 3,100 USD 120,921.00 91,230.82 0.52 Wal-Mart Stores Inc 2,700 USD 174,041.85 179,132.11 1.02 Walgreens Boots Alliance Inc 2,000 USD 152,661.67 137,301.66 0.78 Walker & Dunlop Inc 500 USD 11,530.77 21,403.52 0.12 Waste Management Inc. 500 USD 33,410.49 32,151.31 0.18 Wells Fargo & Co 4,300 USD 176,905.94 208,874.38 1.19 Western Digital Corp. 1,000 USD 81,338.74 77,671.61 0.44 Westrock Co 2,000 USD 97,099.94 99,342.51 0.57 Weyerhaeuser Co 1,900 USD 57,222.07 55,799.07 0.32 Yum Brands 1,700 USD 108,777.98 109,925.48 0.63 Yum China Holdings Inc 1,100 USD 33,880.74 38,023.14 0.22 Zoetis Inc -A- 1,900 USD 94,946.55 103,902.87 0.59

16,566,865.99 17,202,900.05 98.03




UBI SICAV




Software e Servizi Internet 13.60 Stati Uniti d’America 95.34

Banche e Istituzioni Finanziarie 7.74 Irlanda 2.52

Farmaceutica e Cosmetica 6.53 Singapore 0.92

Computer e materiale d’ufficio 6.28 Paesi bassi 0.90

Holding e Società Finanziarie 5.77 Bermuda 0.04

Petrolio 5.60 Cassa e Altre Attività / (Passività) 0.28


Retail 3.44

Biotecnologia 3.29

Comunicazioni 3.18

Trasporti 3.14

Assicurazioni 3.05




Cibo e bevande 2.30





Altri servizi 1.70



Varie 1.58







Tessile 0.56



Chimica 0.43

Metalli Preziosi 0.31 Beni d’investimento 0.11


100.00

100.00

238

UBI SICAV




netto


Obbligazioni France 0.1% 14-01.03.25 /Infl 2,600,000 EUR 2,810,966.17 2,787,282.78 3.64 France 1.1% 09-25.07.22 Oat/Infl 1,600,000 EUR 1,967,830.78 1,962,573.58 2.57 France 2.1% 07-25.07.23 /Infl 2,500,000 EUR 3,337,123.55 3,304,052.05 4.32 French 0.10 % 12-25.07.21 Oati 1,900,000 EUR 2,054,053.70 2,037,350.89 2.66 Germany 0.1% 12-15.04.23/Infl 1,650,000 EUR 1,865,290.29 1,845,996.87 2.41 Germany 0.1% 15-15.04.26 /Infl 1,250,000 EUR 1,399,847.72 1,379,113.63 1.80 Germany 0.1% 15.04.46 /Infl 640,000 EUR 740,951.67 721,280.49 0.94 Germany Frn 11-15.04.18 /Infl 1,300,000 EUR 1,413,807.13 1,411,572.81 1.85 Italy 1.7% 13-15.09.18/Cptfemu 1,300,000 EUR 1,376,968.15 1,374,045.97 1.80 Italy 2.1% 10-15.09.21 /Infl 3,200,000 EUR 3,864,923.05 3,851,062.78 5.04 Italy 2.35% 08-15.09.19 /Infl 2,500,000 EUR 3,004,822.63 2,991,638.73 3.91 Italy 2.35% 14-15.09.24 Btp/Infl 2,300,000 EUR 2,628,351.38 2,610,619.21 3.41 Italy 2.6% 07-15.09.23/Infl 1,000,000 EUR 1,318,413.87 1,315,103.08 1.72 Italy 3.1% 11-15.09.26 Btp/Infl 2,647,550 EUR 3,199,514.84 3,182,096.50 4.16 Spain I/L B 1.8% 13-30.11.24 1,500,000 EUR 1,723,817.03 1,724,894.16 2.26 Uk 0.125% 12-22.03.24/Infl 550,000 GBP 819,844.10 809,249.14 1.06 Uk 0.125% 13-22.11.19/Infl 750,000 GBP 1,000,076.96 994,221.89 1.30 Uk 0.125% 15-22.03.26 /Infl 1,060,000 GBP 1,519,880.56 1,496,203.25 1.96 Uk 1.875% 07-22.11.22/Infl 2,250,000 GBP 4,235,305.47 4,184,419.81 5.47 Uk 2.5% 83-16.04.20/Infl 25,000 GBP 106,180.11 105,166.22 0.14 Uk 2.5% 86-17.07.24/Infl 25,000 GBP 105,731.65 104,226.90 0.14 Usa 0.125% 13-15.01.23 Tb/Infl 3,344,023 USD 3,063,818.52 2,990,380.93 3.91 Usa 0.125% 14-15.04.19 /Infl 1,400,000 USD 1,308,762.95 1,280,943.61 1.68 Usa 0.125% 15-15.04.20 /Infl 4,590,000 USD 4,298,595.34 4,207,576.10 5.50 Usa 0.125% 17-15.04.22 /Tbo 4,000,000 USD 3,592,407.14 3,490,866.35 4.56 Usa 0.625% 14-15.01.24 /Infl 2,040,000 USD 1,950,407.50 1,900,850.43 2.49 Usa 0.625% 16-15.01.26 /Infl 2,580,000 USD 2,410,536.98 2,341,974.54 3.06 Usa 1.125% 11-15.01.21/ Infl 2,740,000 USD 2,855,031.97 2,787,528.92 3.65 Usa 2.375% 07-15.01.27/Infl 3,097,010 USD 3,636,570.35 3,520,576.01 4.60

63,609,831.56 62,712,867.63 82.01




Opzioni Call Treasury Bonds Usa 21/07/17 156 50 USD 32,939.17 16,437.27 0.02 Call Treasury Bonds Usa 21/07/17 159 (35) USD (8,298.56) (2,876.52) - Put Eur/Jpy Spot - Cross Rates 25/08/17 123 3,000,000 EUR 16,350.00 7,536.00 0.01

40,990.61 21,096.75 0.03



(1) Cfr. Nota 17.


UBI SICAV




Stati, Province e Municipalità 82.01 Stati Uniti d’America 29.47

Varie 0.03 Italia 20.04


100.00 Gran Bretagna 10.08

Germania 7.00 Spagna 2.26


100.00

(1) Cfr. Nota 17.

240

UBI SICAV




netto


Obbligazioni Abn Amro 2.875% 15-30.06.25 600,000 EUR 636,796.00 632,979.58 0.38 Amer Movil 5.125% (Frn) 06.09.73 300,000 EUR 316,935.00 315,450.01 0.19 Amex Cr 0.625% 16-22.11.21 300,000 EUR 303,540.00 301,364.71 0.18 Anglo Amer 2.75% 12-07.06.19 400,000 EUR 419,540.00 418,771.61 0.25 Ap Moeller 1.75% 16-18.03.21 200,000 EUR 209,940.00 208,404.01 0.13 Areva 4.375 09-06.11.19 200,000 EUR 213,750.00 213,450.00 0.13 Aviva Plc 6.875% (Tv) 22.05.38 Emtn 200,000 EUR 212,206.00 211,200.00 0.13 Axa 5.25% (Frn) 10-16.04.40 /Sub 300,000 EUR 337,500.00 335,790.60 0.20 Banco Pop 2.375% 14-22.01.18 400,000 EUR 404,800.00 404,120.00 0.25 Barclays 1.875% 16-08.12.23 Regs 300,000 EUR 312,630.00 310,873.19 0.19 Bayer Ag 3% 14-01.07.75 300,000 EUR 312,750.00 311,915.41 0.19 Bbvasm 3.5% 14-11.04.24 300,000 EUR 316,425.00 315,152.39 0.19 Bk Ireland 4.25% 14-11.06.24 200,000 EUR 211,136.00 211,002.81 0.13 Bk of Amer 0.523% (Tv) 06-28.03.18 500,000 EUR 501,450.00 500,850.00 0.30 Casino Gp 4.41% 12-06.08.19 300,000 EUR 326,607.00 325,957.19 0.20 Cetin Finan 1.423% 16-06.12.21 200,000 EUR 206,100.00 205,083.21 0.12 Cloverie Frn 09-24.07.39 300,000 EUR 345,137.50 342,750.00 0.21 Cnh Ind Fin 2.75% 14-18.03.19 200,000 EUR 208,300.00 208,209.59 0.13 Comzbk 7.75% 11-16.03.21 /Sub 300,000 EUR 370,200.00 366,924.00 0.22 Cs 5.75% (Frn) 13-18.09.25 Regs 800,000 EUR 903,800.00 901,680.00 0.55 Deut Bk 5% 10-24.06.20 300,000 EUR 330,762.00 330,276.90 0.20 Dong Energy 4.875% /Frn Perp 600,000 EUR 627,052.00 625,476.01 0.38 Dt An Fin 4.625% 14-08.04.74 1,100,000 EUR 1,168,780.00 1,164,041.99 0.71 Dufry Fin 4.5% 15-01.08.23 300,000 EUR 322,350.00 319,875.00 0.19 Easyjet Plc 1.125% 16-18.10.23 300,000 EUR 301,950.00 298,950.60 0.18 Edf Frn 13-Pert /Ftf Emtn 600,000 EUR 633,125.00 636,599.99 0.39 Enel 6.5% (Frn) 13-10.01.74 600,000 EUR 650,700.00 648,895.20 0.39 Fga Cap Ie 1.25% 16-21.01.21 500,000 EUR 509,750.00 509,007.99 0.31 Fiat Ft 6.75% 13-14.10.19 Regs 600,000 EUR 675,825.00 674,250.00 0.41 France 3.25% 12-25.05.45 Oat 1,900,000 EUR 2,585,664.00 2,523,321.52 1.53 Fres Fin 3% 14-01.02.21 400,000 EUR 437,520.00 433,680.00 0.26 Gaz Cap 3.125% 16-17.11.23 300,000 EUR 316,200.00 313,194.01 0.19 Gdf Suez 3% Frn 14-Perp 800,000 EUR 834,550.00 831,599.98 0.50 Gen Motors 1.875% 14-15.10.19 400,000 EUR 416,800.00 414,940.80 0.25 Germany 0% 15-15.12.17 2,000,000 EUR 2,007,860.00 2,006,195.98 1.22 Germany 0.1% 15-15.04.26 /Infl 6,900,000 EUR 7,716,086.37 7,612,707.21 4.62 Germany 0.5% 15-15.02.25 6,300,000 EUR 6,551,631.00 6,457,625.94 3.92 Germany 1.5% 13-15.02.23 6,300,000 EUR 6,943,878.00 6,867,812.76 4.16 Glencore Fi 1.25% 15-17.03.21 400,000 EUR 407,040.00 406,052.00 0.25 Groupama Sa 7.875% 09-27.10.39 300,000 EUR 345,300.00 343,878.00 0.21 Gtech 6.625% 10-02.02.18 200,000 EUR 207,800.00 207,040.00 0.13 Heid C Lux 0.5% 17-18.01.21 200,000 EUR 202,120.00 200,957.99 0.12 Hsbc Hldg 3.375% /Frn 13-10.01.24 300,000 EUR 315,060.00 313,688.39 0.19 Hutchison Wh Frn (3.75%) 13-Perp 900,000 EUR 923,205.00 919,980.00 0.56 Iberdrola 5.75% (Frn) 13-Perp 300,000 EUR 311,550.00 310,560.00 0.19 Imp Tobacco 0.5% 17-27.07.21 Regs 200,000 EUR 200,782.00 199,013.60 0.12 Ing Nv 3.5% 13-21.11.23 400,000 EUR 419,200.00 417,449.58 0.25 Intesa Frn 09-Perp 1,100,000 EUR 1,252,106.00 1,247,344.97 0.76 Italy 0% 16-28.12.18 Ctz 6,900,000 EUR 6,919,725.00 6,915,249.07 4.19 Italy 0.05% 16-15.10.19 /Btp 5,600,000 EUR 5,602,208.00 5,596,808.06 3.39 Italy 1.5% 15-01.06.25 /Btp 7,600,000 EUR 7,490,822.00 7,438,454.17 4.51 Italy 1.85% 17-15.05.24 /Btp 4,900,000 EUR 5,020,288.00 4,994,981.60 3.03 Italy 2.15% 14-15.12.21 /Btp 7,600,000 EUR 8,105,715.00 8,074,163.85 4.90 Italy 2.25% 16-01.09.36 /Btp 2,800,000 EUR 2,589,380.00 2,555,224.08 1.55 Italy 3.45% 17-01.03.48 Btp 1,700,000 EUR 1,753,532.00 1,727,710.00 1.05 Italy 5.5% 12-01.09.22 Btp 8,300,000 EUR 10,234,120.00 10,180,447.83 6.17 Kbc 1% 16-26.04.21 400,000 EUR 409,420.00 408,067.20 0.25 Kpn (6.125%) Frn 13-Perp /Sub 300,000 EUR 319,650.00 318,599.99 0.19

(1) Cfr. Nota 17.


UBI SICAV




Mapfre 5.921% 07-24.07.37 200,000 EUR 201,240.00 200,440.00 0.12 Mediobanca 0.75% 17-17.02.20 400,000 EUR 404,360.00 403,159.21 0.24 Metrovacesa 2.375% 16-23.05.22 200,000 EUR 213,114.00 211,187.19 0.13 Mylan 1.25% 16-23.11.20 400,000 EUR 411,208.00 408,630.80 0.25 Nat Aus Bk 2% 14-12.11.24 600,000 EUR 618,184.00 613,949.98 0.37 Nationwide 4.125% 20.03.23 Emtn 300,000 EUR 308,850.00 307,860.00 0.19 Nomura Euro 1.5% 14-12.05.21 300,000 EUR 311,970.00 310,517.99 0.19 Nordea Bank 1.875% 15-10.11.25 600,000 EUR 625,226.00 621,683.99 0.38 Orange 4.25% 14-Perp 300,000 EUR 320,820.00 321,360.01 0.19 Pemex 3.75% 16-15.03.19 200,000 EUR 210,940.00 210,500.00 0.13 Pirelli Int 1.75% 14-18.11.19 200,000 EUR 204,500.00 203,980.00 0.12 Rabobk 6.875% 10-19.03.20 600,000 EUR 705,360.00 704,100.00 0.43 Rbs 5.25% 05-Perp 300,000 EUR 302,250.00 300,930.00 0.18 San Con 1.5% 15-12.11.20 500,000 EUR 520,480.00 518,165.51 0.31 Smurfit Kap 3.25% 14-01.06.21 600,000 EUR 652,760.00 647,916.00 0.39 Softbank 4.625% 13-15.04.20 Regs 200,000 EUR 220,880.00 219,850.01 0.13 Spain 1.95% 16-30.04.26 2,800,000 EUR 2,963,904.00 2,943,116.34 1.78 Spain 2.9% 16-31.10.46 1,800,000 EUR 1,848,274.00 1,818,610.15 1.10 Spain 3.45% 16-30.07.66 1,800,000 EUR 1,935,833.00 1,905,660.05 1.16 Suez Env Co 3% 14-Perp 400,000 EUR 420,600.00 420,399.99 0.25 Telefonica 6.5% /Frn 13-Perp 300,000 EUR 321,180.00 320,216.99 0.19 Telekom Austria Ag Frn Perpetual 200,000 EUR 206,600.00 205,980.00 0.12 Tesco Corp 1.375% 14-01.07.19 400,000 EUR 407,820.00 406,903.99 0.25 Teva Pharm 0.375% 16-25.07.20 200,000 EUR 199,920.00 199,255.60 0.12 Total Sa 3.875% 16-Perp 600,000 EUR 649,632.00 646,762.80 0.39 Ubs Je 7.152% 07-Perp 400,000 EUR 414,520.00 412,600.00 0.25 Ubs Ln 4.75% 14-12.02.26 800,000 EUR 885,375.00 882,240.00 0.54 Unicredit 5.75% 13-28.10.25 1,200,000 EUR 1,319,550.00 1,319,337.61 0.80 Unitym Nrw 5.75% 12-15.01.23 218,700 EUR 225,261.00 229,926.31 0.14 Usa 2.625% 10-15.11.20 Tbo 19,800,000 USD 18,221,511.26 17,913,075.62 10.86 Veolia 4.45% 13 Ftf /Perp 300,000 EUR 309,600.00 308,910.00 0.19 Volvo Tsy 4.2% 14-10.06.75 300,000 EUR 318,900.00 319,500.00 0.19 Vw Intl Fin Frn 13 Ftf /Perp 1,200,000 EUR 1,242,450.00 1,238,887.21 0.75 Wells Fargo Frn 17-31.01.22 900,000 EUR 904,384.00 903,510.00 0.55 Zf Na Cap 2.25% 15-26.04.19 200,000 EUR 207,760.00 206,380.00 0.13

132,364,265.13 131,291,553.92 79.60




Obbligazioni Usa 2% 12-15.02.22 Tbo 20,400,000 USD 18,360,811.72 18,015,787.95 10.92

18,360,811.72 18,015,787.95 10.92

Totale dei valori mobiliari e strumenti del mercato monetario trattati su un altro

mercato regolamentato 18,360,811.72 18,015,787.95 10.92


Opzioni Call Treasury Bonds Usa 21/07/17 157 150 USD 114,608.54 28,765.23 0.02 Put Eur/Jpy Spot - Cross Rates 25/08/17 123 7,400,000 EUR 40,330.00 18,588.80 0.01

(1) Cfr. Nota 17.


UBI SICAV




Put Euro Bund 25/08/17 160 125 EUR 66,250.00 81,250.00 0.05 221,188.54 128,604.03 0.08




UBI SICAV UBI SICAV - Strategic Bond (1)








Comunicazioni 1.02

Petrolio 0.90

Assicurazioni 0.66

Altri servizi 0.39

Trasporti 0.31



Varie 0.20

Retail 0.20

Chimica 0.19


Software e Servizi Internet 0.13



100.00

Italia 31.36


Germania 14.72

Spagna 4.79

Paesi bassi 4.28

Francia 4.18

Gran Bretagna 2.35

Lussemburgo 1.29

Irlanda 1.04

Svezia 0.57

Hong Kong 0.56

Svizzera 0.55

Danimarca 0.51

Australia 0.37

Messico 0.32

Belgio 0.25

Jersey 0.25

Giappone 0.13

Austria 0.12


100.00 (1) Cfr. Nota 17.

244

UBI SICAV




netto


Obbligazioni Abn Amro 5.75% 15-Perp 300,000 EUR 321,570.00 317,310.00 0.36 Accor 4.125% 14-Perp 200,000 EUR 210,800.00 211,059.60 0.24 Adient Glob 3.5% 16-15.08.24 150,000 EUR 155,062.50 152,122.50 0.17 Aib 4.125% 15-26.11.25 300,000 EUR 321,690.00 319,125.00 0.37 Altice 6.25% 15-15.02.25 250,000 EUR 274,350.00 272,812.50 0.31 Altice Fin 5.25% 15-15.02.23 350,000 EUR 373,765.00 370,650.01 0.43 Anglo Amer 1.5% 15-01.04.20 600,000 EUR 611,700.00 611,412.00 0.70 Anglo Amer 2.5% 13-29.04.21 200,000 EUR 210,300.00 210,233.40 0.24 Aramark Int 3.125% 17-01.04.25 350,000 EUR 368,305.00 364,007.00 0.42 Arcelik 3.875% 14-16.09.21 250,000 EUR 263,725.00 264,525.00 0.30 Arcelormit 3% 15-09.04.21 350,000 EUR 374,062.50 377,191.49 0.43 Ardagh Pck 2.75% 15.03.24 Regs 300,000 EUR 305,193.00 305,700.01 0.35 Areva 3.125% 14-20.03.23 900,000 EUR 903,090.00 919,494.00 1.05 Areva 3.25% 13-04.09.20 500,000 EUR 511,250.00 519,850.01 0.60 Arr Gbl Fin Frn 17-01.04.25 300,000 EUR 301,866.05 300,810.00 0.34 Assgen 4.125% 14-04.05.26 400,000 EUR 433,200.00 432,340.79 0.50 Atalia 4% 17-15.05.24 200,000 EUR 207,258.00 207,000.00 0.24 Atf Netherl 3.75% 16-Perp 200,000 EUR 203,600.00 203,500.00 0.23 Avis 4.5% 17-15.05.25 Regs 200,000 EUR 193,402.00 195,966.40 0.22 Bafc Frn 17-04.05.23 Regs 500,000 EUR 500,600.00 500,750.00 0.57 Ball Corp 4.375% 15-15.12.23 300,000 EUR 339,000.00 339,375.00 0.39 Banco Pop 3.5% 14-14.03.19 1,400,000 EUR 1,456,140.00 1,452,892.00 1.67 Bankia 3.375% 17-15.03.27 Regs 100,000 EUR 102,764.00 101,715.00 0.12 Bankia 4% 14-22.05.24 200,000 EUR 208,800.00 207,412.00 0.24 Bankinter 2.5% 17-06.04.27 Regs 400,000 EUR 408,360.00 403,610.41 0.46 Barclays 2.625% 15-11.11.25 300,000 EUR 310,494.00 308,604.61 0.35 Barclays 6.5 & /Frn 14-Perp 200,000 EUR 208,900.00 206,420.00 0.24 Bayer Ag 2.375% 15-02.04.75 600,000 EUR 597,600.00 604,752.00 0.69 Bca Pop Der 5.125% 17-31.05.27 300,000 EUR 305,490.00 307,500.00 0.35 Bco Sabadell 6.25% 10-26.04.20 200,000 EUR 222,000.00 221,906.20 0.25 Belden Inc 3.375% 17-15.07.27 200,000 EUR 200,000.00 199,820.00 0.23 Bhp Finance 5.625% 15-22.10.79 200,000 EUR 234,600.00 233,308.00 0.27 Bisoho Sas 5.875% 16-01.05.23 225,000 EUR 245,700.00 244,900.34 0.28 Bk Ireland 4.25% 14-11.06.24 300,000 EUR 318,000.00 316,504.21 0.36 Bmbg Bond 3% 16-15.06.21 100,000 EUR 103,819.00 102,869.70 0.12 Bmps 3.625% 14-01.04.19 300,000 EUR 301,790.00 307,128.00 0.35 Bombardier 6.125% 15.05.21 Regs 200,000 EUR 217,000.00 216,168.00 0.25 Boparan 4.375% 14-15.07.21 200,000 EUR 202,508.00 195,100.01 0.22 Bpce Frn 17-09.03.22 500,000 EUR 510,325.00 511,450.00 0.59 Bpe Fin 2% 15-03.02.20 200,000 EUR 193,380.00 208,277.21 0.24 Bul Energy 4.875% 16-02.08.21 500,000 EUR 543,750.00 540,000.00 0.62 Burger King 6% 17-01.05.24 Regs 250,000 EUR 265,287.50 265,625.00 0.30 Buz Unicem 2.125% 16-28.04.23 500,000 EUR 526,004.00 524,984.02 0.60 Caixabank 3.5% 17-15.02.27 500,000 EUR 524,950.00 522,142.98 0.60 Carnaudmet 3.375% 15-15.05.25 300,000 EUR 314,430.00 310,965.00 0.36 Casino Gp 2.798% 14-05.08.26 400,000 EUR 426,980.00 430,476.01 0.49 Casino Gp 3.311% 13-25.01.23 400,000 EUR 454,500.00 452,176.79 0.52 Casino Gp 4.87% 13-Perp 300,000 EUR 305,250.00 303,750.00 0.35 Casino Gp 5.98% 11-26.05.21 500,000 EUR 589,690.00 590,125.01 0.68 Cellnex Tel 2.375% 16-16.01.24 500,000 EUR 508,000.00 511,878.02 0.59 Cemex Fin 4.625% 16-15.06.24 200,000 EUR 216,000.00 216,226.00 0.25 Cirsa Fdg 5.875% 15-15.05.23 300,000 EUR 319,125.00 314,910.00 0.36 Cnh Ind Fin 2.75% 14-18.03.19 500,000 EUR 520,000.00 520,523.99 0.60 Comzbk 7.75% 11-16.03.21 /Sub 200,000 EUR 246,438.00 244,616.00 0.28 Contourglob 5.125% 16-15.06.21 400,000 EUR 424,930.00 420,880.00 0.48 Cott Financ 5.5% 16-01.07.24 200,000 EUR 220,000.00 215,452.00 0.25 Cr Agr6.5% 14-Perp 400,000 EUR 436,000.00 436,840.00 0.50 Credit Ag Frn 17-20.04.22 Regs 500,000 EUR 504,630.00 506,050.00 0.58

(1) Cfr. Nota 17.


UBI SICAV




Cs 5.75% (Frn) 13-18.09.25 Regs 300,000 EUR 340,125.00 338,130.00 0.39 Cs Gr Fund 1.25% 15-14.04.22 500,000 EUR 511,600.01 510,350.00 0.59 Darling Glb 4.75% 15-30.05.22 550,000 EUR 583,245.00 577,500.00 0.66 Dea Finance 7.5% 16-15.10.22 300,000 EUR 328,500.00 321,809.99 0.37 Delta Lloyd 9% 12-29.08.42 300,000 EUR 399,218.00 395,046.02 0.45 Deut Bk 1.25% 14-08.09.21 500,000 EUR 509,895.00 510,224.99 0.59 Dong Energy 3% Perp 200,000 EUR 209,100.00 208,600.01 0.24 Dt An Fin 4% /Ftf 14-Perp 300,000 EUR 320,589.00 322,701.60 0.37 Dufry Fin 4.5% 15-01.08.23 600,000 EUR 644,166.00 639,750.00 0.73 Edp Fin Bv 4.875% 13-14.09.20 200,000 EUR 228,848.00 228,116.00 0.26 Edreams 8.5% 16-01.08.21 200,000 EUR 219,960.00 217,426.41 0.25 Eircom Fina 4.5% 16-31.05.22 200,000 EUR 210,998.00 209,005.80 0.24 Ence Ener 5.375% 15-01.11.22 200,000 EUR 217,250.00 214,587.01 0.25 Enel 5% 14-15.01.75 850,000 EUR 924,375.00 921,559.80 1.06 Ephios Bond 6.25% 15-01.07.22 350,000 EUR 381,325.00 378,839.99 0.43 Europcar Gr 5.75% 15-15.06.22 200,000 EUR 211,758.00 210,500.00 0.24 Faurecia 3.625% 16-15.06.23 600,000 EUR 636,600.00 630,185.99 0.72 Fga Cap Ie 1.375% 15-17.04.20 400,000 EUR 409,816.00 409,471.98 0.47 Fiat 1.375% 17-23.05.22 200,000 EUR 198,900.00 201,592.00 0.23 Fiat Ft 4.75% 14-22.03.21 1,200,000 EUR 1,318,800.00 1,322,399.96 1.52 Fiat Invest 3.75% 16-29.03.24 500,000 EUR 520,000.00 527,550.01 0.60 Finmec Fnce 4.5% 13-19.01.21 600,000 EUR 679,800.00 677,260.21 0.78 Gamenet Gro 6% 16-15.08.21 200,000 EUR 211,200.00 210,140.00 0.24 Gas Nat Fen 4.125% 14-Perpetual 200,000 EUR 212,250.00 215,705.20 0.25 Gaz Cap 3.6% 14-26.02.21 1,000,000 EUR 1,071,200.00 1,061,220.02 1.22 Gaz Capital 3.389% 20.03.20 800,000 EUR 846,303.00 838,843.20 0.96 Gdf Suez 3% Frn 14-Perp 400,000 EUR 415,900.00 415,799.99 0.48 Georgia 4.75% 15-15.02.23 Regs 500,000 EUR 549,925.00 544,711.99 0.62 Germany 1% 13-12.10.18 400,000 EUR 409,660.80 408,361.21 0.47 Gie Psa Tresorer. 6% 03-19.09.33 250,000 EUR 306,630.00 313,750.00 0.36 Glencore Fi 1.25% 15-17.03.21 200,000 EUR 203,650.00 203,026.00 0.23 Gr City Pr 3.75% 15-Perp 300,000 EUR 312,750.00 314,241.01 0.36 Grifols 3.2% 17-01.05.25 250,000 EUR 251,872.50 250,446.49 0.29 Groupama Sa 7.875% 09-27.10.39 200,000 EUR 229,950.00 229,252.00 0.26 Groupe Fnac 3.25% 16-30.09.23 350,000 EUR 363,020.00 365,608.61 0.42 Grupo 3.25% 17-30.04.24 Regs 250,000 EUR 256,372.50 255,312.50 0.29 Gs Frn 17-09.09.22 500,000 EUR 500,230.00 500,300.00 0.57 Guala Clos Frn 16-15.11.21 200,000 EUR 204,000.00 202,960.00 0.23 Holdikks 6.75% 14-15.07.21 250,000 EUR 150,575.00 134,362.75 0.15 Horizon 5.125% 15-01.08.22 150,000 EUR 160,657.50 158,175.00 0.18 Hp Pelzer 4.125% 17-01.04.24 Regs 150,000 EUR 155,625.00 154,597.50 0.18 Hsbc Hldg 5.25% 14-Perp 200,000 EUR 213,750.00 213,680.00 0.25 Huntsman 5.125% 14-15.04.21 100,000 EUR 113,750.00 113,083.00 0.13 Hutchison Wh Frn (3.75%) 13-Perp 200,000 EUR 205,308.00 204,440.00 0.23 Ims Health 3.5% 16-15.10.24 900,000 EUR 945,000.00 933,788.73 1.07 In Justit 3.125% 15.07.24 Regs 400,000 EUR 401,239.00 398,440.00 0.46 Ineos Fin 4% 15-01.05.23 500,000 EUR 521,000.00 514,940.00 0.59 Intesa San 1.125% 15-04.03.22 500,000 EUR 504,725.00 506,899.99 0.58 Intesa San 6.625% 13-13.09.23 Emtn 1,000,000 EUR 1,224,800.00 1,227,108.00 1.41 Intesa San 7% 16-Perp 300,000 EUR 313,350.00 315,690.00 0.36 K+S 3% 20.06.22 Emtn 400,000 EUR 426,304.00 425,539.22 0.49 Kbc Frn 17-24.11.22 Regs 500,000 EUR 498,450.00 499,950.00 0.57 Kirk Beauty 8.75% 15-15.07.23 250,000 EUR 276,250.00 272,590.01 0.31 Kirs Mid 8.375% 17-15.07.23 Regs 300,000 GBP 343,249.20 335,249.88 0.38 Kpn (6.125%) Frn 13-Perp /Sub 600,000 EUR 640,092.00 637,199.98 0.73 Lecta 6.5% 16-01.08.23 100,000 EUR 107,300.00 105,567.20 0.12 Levi 3.375% 17-15.03.27 250,000 EUR 255,312.50 252,550.00 0.29 Lincoln 6.875% 16-15.04.21 300,000 EUR 323,640.00 321,211.19 0.37 Lkq Italia 3.875% 16-01.04.24 150,000 EUR 162,187.50 162,075.00 0.19 Loxam 3.5% 16-03.05.23 400,000 EUR 419,500.00 413,575.99 0.47 Mapfre 4.375% (Frn) 17-31.03.47 300,000 EUR 320,978.00 319,500.00 0.37

(1) Cfr. Nota 17.


UBI SICAV




Marcolin Frn 17-15.02.23 Regs 250,000 EUR 255,600.00 253,975.00 0.29 Matthorn Te 4.875% 15-01.05.23 250,000 EUR 255,925.00 253,770.01 0.29 Mediobanca Frn 17-18.05.22 400,000 EUR 400,630.00 400,400.00 0.46 Merlin Entmts 2.75% 15.03.22 200,000 EUR 210,700.00 208,500.00 0.24 Mobilux 5.5% 16-15.11.24 250,000 EUR 264,375.00 264,211.26 0.30 Mpt 4% 15-19.08.22 400,000 EUR 439,912.00 441,761.60 0.51 N&W Global 7% 16-15.10.23 200,000 EUR 212,500.00 211,580.00 0.24 Nassa 2.875% 17-06.04.24 Regs 250,000 EUR 258,000.00 256,249.75 0.29 Nemak 3.25% 17-15.03.24 Regs 200,000 EUR 204,500.00 203,600.01 0.23 Nexans 2.75% 17-05.04.24 100,000 EUR 100,000.00 100,310.00 0.12 Nh Hoteles 3.75% 16-01.10.23 200,000 EUR 212,750.00 210,913.60 0.24 Nomad Foods 3.25% 17-15.05.24 200,000 EUR 204,890.00 203,440.20 0.23 Norican Gro 4.5% 17-15.05.23 200,000 EUR 204,830.00 204,000.00 0.23 Novafives 4.5% 14-30.06.21 100,000 EUR 102,100.00 101,250.00 0.12 Novalis Sas 3% 15-30.04.22 300,000 EUR 310,440.00 307,659.00 0.35 Numericable Gp 5.625% 15.05.24 350,000 EUR 380,905.00 377,125.00 0.43 Nyrstr Nt 6.875% 15.03.24 Regs 350,000 EUR 361,270.00 354,248.99 0.41 Omv 6.25% 15-Perp 100,000 EUR 116,960.00 116,000.00 0.13 Onorato Arm 7.75% 16-15.02.23 300,000 EUR 312,000.00 292,668.00 0.34 Orange 4% 14-Perp 300,000 EUR 323,685.00 325,500.00 0.37 Orgau 4% 14-16.09.74 300,000 EUR 308,100.00 305,325.01 0.35 Outoku Oyj 7.25% 16-16.06.21 180,000 EUR 185,400.00 196,830.00 0.23 Pemex 3.125% 13-27.11.20 200,000 EUR 211,604.00 210,604.00 0.24 Petbra 5.875% 11-07.03.22 600,000 EUR 670,380.00 661,791.59 0.76 Pirelli Int 1.75% 14-18.11.19 400,000 EUR 409,000.00 407,960.00 0.47 Raiffeisen 4.5% 14-21.02.25 400,000 EUR 427,600.00 420,840.00 0.48 Rallye 4.371% 17-23.01.23 300,000 EUR 306,420.00 309,270.00 0.35 Rbs Grp 2% 17-08.03.23 400,000 EUR 412,432.00 412,966.00 0.47 Rbs Grp 3.625% 14-25.03.24 300,000 EUR 309,735.00 310,899.61 0.36 Rexel 2.625% 17-15.06.24 300,000 EUR 303,708.00 303,375.59 0.35 Rwe Ag 3.5% 15-21.04.75 200,000 EUR 196,860.00 198,126.80 0.23 Rzd Capital 3.3744% 13-20.05.21 600,000 EUR 641,250.00 635,130.02 0.73 Saipem Fin 3% 16-08.03.21 600,000 EUR 619,200.00 612,701.98 0.70 Salini Impr 3.75% 16-24.06.21 200,000 EUR 221,200.00 218,018.01 0.25 Santander 1.375% 17-09.02.22 Regs 500,000 EUR 509,210.00 512,211.00 0.59 Santander 6.25% 14-Perp 200,000 EUR 201,000.00 205,460.00 0.24 Sappi Papie 4% 16-01.04.23 250,000 EUR 266,225.00 262,187.50 0.30 Sb Capital 3.3524% 15.11.19 400,000 EUR 424,960.00 422,064.00 0.48 Schaef 2.75% 16-15.09.21 /Pik 1,100,000 EUR 1,142,625.00 1,119,206.02 1.28 Ses 4.625% 16-Perp 600,000 EUR 638,400.00 643,915.19 0.74 Silk Bidco 7.5% 15-01.02.22 300,000 EUR 324,150.00 319,500.00 0.37 Sm Mth Auto 1.8% 17-06.07.24 400,000 EUR 397,196.00 392,160.00 0.45 Smurfit Kap 2.75% 15-01.02.25 200,000 EUR 209,130.00 206,300.00 0.24 Snai Spa 6.375% 16-07.11.21 200,000 EUR 216,480.00 214,016.01 0.25 Socgen 1% 16-01.04.22 500,000 EUR 506,535.00 506,162.00 0.58 Socgen 6.75% 14-Perp 300,000 EUR 325,500.00 328,500.00 0.38 Socgen Frn 09-Perp 600,000 EUR 711,600.00 707,018.42 0.81 Softbank 4.625% 13-15.04.20 Regs 500,000 EUR 553,700.00 549,625.02 0.63 Softbank 4.75% 15-30.07.25 350,000 EUR 397,250.00 402,885.00 0.46 Solvay Fin 5.118% 15-Perp 400,000 EUR 444,500.00 445,700.01 0.51 Spectrum Br 4% 16-01.10.26 250,000 EUR 264,375.00 259,690.25 0.30 Spie Sa 3.125% 17-22.03.24 200,000 EUR 211,480.00 208,272.00 0.24 Stillwater 7.125% 17-27.06.25 200,000 USD 177,047.09 172,238.10 0.20 Stora Enso 2.5% 17-07.06.27 Regs 100,000 EUR 99,982.00 99,190.00 0.11 Suez Env Co 3% 14-Perp 400,000 EUR 420,500.00 420,399.99 0.48 Swissport I 6.75% 15-15.12.21 300,000 EUR 327,970.00 321,295.81 0.37 Syngenta 1.875% 14-02.11.21 200,000 EUR 207,400.00 205,228.61 0.24 Tc Fin 6.75% 15-15.06.21 250,000 EUR 266,150.00 263,750.00 0.30 Tcgln 6.25% 16-15.06.22 Regs 200,000 EUR 217,800.00 215,500.00 0.25 Telec It Fin 7.75% 03-24.01.33 600,000 EUR 819,000.00 831,554.44 0.95 Telecom It 3.25% 15-16.01.23 1,100,000 EUR 1,215,680.00 1,213,504.64 1.39

(1) Cfr. Nota 17.


UBI SICAV




Telecom It 3.625% 16-19.01.24 800,000 EUR 883,952.00 890,057.62 1.02 Telefonica 3.75% 16-Perp 600,000 EUR 621,000.00 625,500.00 0.72 Telefonica 4.2% 14-Perp 600,000 EUR 635,940.00 637,948.79 0.73 Telefonica 5% 14-Perp 600,000 EUR 648,750.00 649,708.79 0.74 Telenet Fin V 6.75% 12-15.08.24 500,000 EUR 551,245.00 545,733.00 0.63 Telia 3% 17-04.04.78 Regs 300,000 EUR 308,424.00 308,633.40 0.35 Tereos Fin 4.125% 16-16.06.23 200,000 EUR 204,498.00 203,700.00 0.23 Tesco Corp 2.125% 13-12.11.20 300,000 EUR 313,356.00 312,704.11 0.36 Tesco Corp 2.5% 14-01.07.24 600,000 EUR 617,700.00 613,645.80 0.70 Thyssenkp 1.375% 17-03.03.22 700,000 EUR 692,274.00 698,824.01 0.80 Total Sa 3.875% 16-Perp 200,000 EUR 215,700.00 215,587.60 0.25 Trinseo Mat 6.375% 15-01.05.22 200,000 EUR 215,400.00 213,120.00 0.24 Turkiye Gar 3.375% 14-08.07.19 300,000 EUR 311,850.00 310,369.79 0.36 Tvo Power 2.5% 14-17.03.21 300,000 EUR 315,429.00 313,527.01 0.36 Ubs Group 5.75% 15-Perp 200,000 EUR 221,468.00 220,620.00 0.25 Ubs Ln 4.75% 14-12.02.26 400,000 EUR 443,595.00 441,120.00 0.51 Unicre Lu F Frn 09-Perpetual 50,000 EUR 55,650.00 55,894.80 0.06 Unicredit 2% 16-04.03.23 250,000 EUR 261,070.00 262,418.00 0.30 Unicredit 5.75% 13-28.10.25 700,000 EUR 774,550.00 769,613.61 0.88 Unicredit 6.75% 14-Perp 200,000 EUR 203,000.00 201,280.00 0.23 Unipol Grup 4.375% 14-05.03.21 300,000 EUR 332,700.00 330,301.21 0.38 Unitym Nrw 4% 14-15.01.25 600,000 EUR 637,440.00 632,279.98 0.73 Unitym Nrw 5.125% 13-21.01.23 437,400 EUR 450,522.00 457,047.99 0.52 Unitym Nrw 6.25% 13-15.01.29 350,000 EUR 402,465.00 396,735.49 0.46 Vallourec 2.25% 14-30.09.24 200,000 EUR 163,000.00 158,979.20 0.18 Veolia 4.45% 13 Ftf /Perp 400,000 EUR 413,000.00 411,880.00 0.47 Verisure 6% 15-01.11.22 315,000 EUR 345,375.00 342,767.26 0.39 Virgin Med 4.5% 15-15.01.25 250,000 EUR 266,260.00 260,510.01 0.30 Vw Intl Fin 3.75% 14-Perp 200,000 EUR 211,590.00 210,834.79 0.24 Worldpay Fi 3.75% 15-15.11.22 250,000 EUR 275,600.00 271,495.00 0.31 Zf Na Capit 2.75% 15-27.04.23 200,000 EUR 217,100.00 214,709.59 0.25 Ziggo Bond 4.625% 15-15.01.25 250,000 EUR 267,375.00 264,587.50 0.30 Ziggo Fin 3.75% 15-15.01.25 500,000 EUR 527,500.00 522,130.02 0.60 Zodiak Medi 4% 17-01.07.22 200,000 EUR 200,000.00 203,020.00 0.23

81,165,732.15 80,901,512.06 92.73




Opzioni Put Treasury Bonds Usa 25/08/17 152 30 USD 14,218.55 33,285.48 0.04

14,218.55 33,285.48 0.04




UBI SICAV






Comunicazioni

Servizi Pubblici

Retail

Altri servizi

Petrolio

Assicurazioni Industria Automobilistica



Intrattenimento


Chimica



Trasporti


Varie

Società Immobiliari Industrie cartarie e prodotti forestali

Metalli non ferrosi

Beni di consumo Stati, Province e Municipalità

Tessile


Biotecnologia

Fotografia e ottica

Pesca e Agricoltura

Metalli Preziosi


30.30 Francia

19.67 Lussemburgo

9.33 Italia

5.21 Paesi bassi

2.81 Gran Bretagna

2.39 Germania


1.96 Spagna

1.73 Irlanda

1.71 Svezia

1.58 Giappone

1.52 Austria

1.33 Jersey

1.31 Finlandia

1.23 Norvegia

1.09 Turchia

0.97 Svizzera

0.94 Australia

0.74 Bulgaria

0.73 Guernsey

0.66 Belgio

0.64 Canada

0.60 Danimarca

0.47 Messico

0.44 Hong Kong


0.29

0.29

0.23

0.20

7.23

16.23

13.68

13.57

9.80

9.44

7.03

4.80

4.77

2.76

1.20

1.09

0.91

0.76

0.70

0.66

0.66

0.64

0.62

0.62

0.59

0.57

0.50

0.47

0.47

0.23

7.23

100.00

100.00

(1) Cfr. Nota 17.

249

UBI SICAV




netto


Azioni Acea 60,000 EUR 858,446.44 796,200.00 4.37 Anima Holding S.P.A. 75,000 EUR 436,888.69 470,625.00 2.58 Autogrill Spa 56,000 EUR 595,185.64 594,160.00 3.26 Cementir Holding S.P.A 114,000 EUR 608,034.39 595,080.00 3.26 Cerved Information Solutions 80,000 EUR 761,520.64 749,600.00 4.11 Credito Emiliano Spa Credem 164,000 EUR 1,115,004.73 1,159,480.00 6.36 Danieli+C. /Risp. N-Cv 62,000 EUR 1,002,382.88 972,160.00 5.33 Datalogic Spa 27,000 EUR 682,115.02 636,390.00 3.49 Diasorin Az 16,000 EUR 1,105,920.52 1,076,000.00 5.90 Enav S.P.A. 137,000 EUR 526,789.57 516,216.00 2.83 I.M.A. Spa 6,000 EUR 480,982.57 482,700.00 2.65 Interpump Group Sa 20,000 EUR 513,023.23 478,800.00 2.63 Inwit 67,000 EUR 348,035.67 333,258.00 1.83 Iren S.P.A. 341,000 EUR 685,925.66 691,548.00 3.79 La Doria Spa 31,000 EUR 338,387.70 323,640.00 1.78 Maire Tecnimont Az Post Raggru 96,000 EUR 348,371.83 390,528.00 2.14 Maison Du Monde Sas 11,000 EUR 361,117.24 374,715.00 2.06 Ovs S.P.A. 68,000 EUR 426,105.71 423,640.00 2.32 Parmalat Spa 216,000 EUR 680,780.06 654,480.00 3.59 Rai Way S.P.A. 182,000 EUR 849,979.31 794,612.00 4.36 Reply Spa Torino 3,000 EUR 484,553.43 485,400.00 2.66 Salini Impreg Az. Post Ragrupp 330,000 EUR 1,101,388.29 999,900.00 5.49 Saras Raffinerie Sarde 192,000 EUR 431,528.09 391,296.00 2.15 Save S.P.A. 16,000 EUR 336,166.98 332,640.00 1.82 Ste Cattolica Di Assicurazioni 54,000 EUR 430,555.33 367,740.00 2.02 Technogym S.P.A. 63,000 EUR 429,233.08 424,935.00 2.33 Tod S Spa 14,000 EUR 890,939.97 764,400.00 4.19 Unieuro S.P.A. 25,000 EUR 350,282.56 390,000.00 2.14 Wiit S.P.A. 4,058 EUR 182,610.00 204,117.40 1.12

17,362,255.23 16,874,260.40 92.56




UBI SICAV




Costruzioni e Materiali da Costruzione 8.75 Italia 90.50

Servizi Pubblici 8.16 Francia 2.06

Meccanica e macchinari 7.96 Cassa e Altre Attività / (Passività) 7.44


Tessile 6.51



Cibo e bevande 5.37

Trasporti 4.65

Comunicazioni 4.49


Retail 4.20





Petrolio 2.15

Chimica 2.14

Assicurazioni 2.02 Software e Servizi Internet 1.12


100.00

100.00

(1) Cfr. Nota 17.

251

UBI SICAV

Nota Integrativa al 30 giugno 2017

Nota 1 - Informazioni generali

UBI SICAV (la "SICAV") è un fondo d’investimento aperto di diritto lussemburghese costituito il 27 marzo 1991 come "Società d’investimenti con un capitale variabile" per un periodo di tempo illimitato. La SICAV è soggetta alle disposizioni della Parte I della legge lussemburghese, come successivamente modificata il 17 dicembre 2010 (di seguito, la "Legge") riguardante gli organismi d'investimento collettivo in valori mobiliari ("UCITS V"). Lo statuto della SICAV è stato modificato l’ultima volta in data 1 giugno 2015, con pubblicazione sulla RESA (Recueil électronique des sociétés et associations) il 30 giugno 2015.

La SICAV è una società d’investimento aperta multicomparto, vale a dire che è composta da diversi comparti investiti separatamente secondo le rispettive politiche d’investimento e obiettivi d’investimento a politiche d'investimento.

Questa struttura attribuisce agli investitori il vantaggio di poter scegliere tra i diversi comparti e di poter poi passare senza ulteriori spese da un comparto all'altro.

La SICAV è gestita da UBI Management Company S.A., nominata quale Società di Gestione soggetta alle disposizioni del Capitolo 15 della Legge.

La SICAV ha come obiettivo quello di offrire ai propri azionisti un accesso privilegiato ai diversi mercati d’investimento, nel rispetto del principio di ripartizione dei rischi. Tutti i titoli acquisiti sono quotati su una borsa ufficiale o negoziati su un mercato regolamentato, riconosciuto, regolarmente funzionanteo e aperto al pubblico.

Lo scopo esclusivo della SICAV sarà l'investimento dei propri beni in valori mobiliari e strumenti del mercato monetario di qualsiasi tipo e/o in altre attività consentite dalla legge, al fine di ripartire i rischi d'investimento e consentire ai suoi azionisti di beneficiare dei risultati della gestione. La SICAV si impegna a rispettare i limiti d'investimento previsti dalla legge.

Nell'ambito dei propri obiettivi, la SICAV sarà in grado di offrire una scelta di diversi comparti, gestiti e amministrati separatamente. Gli obiettivi e le politiche di investimento da perseguire in ciascun comparto sono descritti negli allegati relativi a ciascun comparto nel prospetto informativo. Nell'ambito dei suoi investimenti, le attività di uno specifico comparto sono responsabili solo per i debiti, le passività e gli obblighi relativi a tale comparto. Ogni comparto è trattato come un'entità separata tra gli azionisti.

Tutti i comparti sono denominati in euro e tutte le attività e passività di ciascun comparto sono valutate in euro. Al 30 giugno 2017, la società comprendeva 43 comparti attivi:

UBI SICAV - Euro Fixed Income UBI SICAV - Euro Equity UBI SICAV - USA Equity UBI SICAV - Asia Pacific Equity UBI SICAV - Emerging Markets Equity UBI SICAV - Global Equity UBI SICAV - Euro Corporate Bond UBI SICAV - High Yield Bond UBI SICAV - Short Term EUR UBI SICAV - Euro Liquidity Plus UBI SICAV - Active Beta UBI SICAV - Global Corporate Bond UBI SICAV - Euro Corporate Short Term UBI SICAV - Euro Equity High Dividend UBI SICAV - Emerging Markets Bond UBI SICAV - Global Dynamic Allocation UBI SICAV - Cedola Certa 2012-2015 (1)

UBI SICAV - Beta Neutral UBI SICAV - Long/Short Euro UBI SICAV - Cedola Certa 2013-2016 UBI SICAV - Protezione e Crescita 2017 UBI SICAV - Cedola Certa 2013-2017 UBI SICAV - Focus Italia UBI SICAV - Cedola Mercati Emergenti UBI SICAV - Protezione Mercati Emergenti UBI SICAV - Multiasset Europe 50 UBI SICAV - Global High Yield Euro Hedged UBI SICAV - Global Multiasset 30 UBI SICAV - Italian Equity UBI SICAV - Income Opportunities UBI SICAV - European Equity UBI SICAV - Global Stars UBI SICAV - Social 4 Future UBI SICAV - Global Multiasset 15 UBI SICAV - Euro Corporate Bond High Potential UBI SICAV - Obiettivo Stabilità UBI SICAV - Obiettivo Controllo UBI SICAV - Globo (Global Bond) UBI SICAV - US Core Equity

(1) Cfr. Nota 17.

252

UBI SICAV

Nota Integrativa al 30 giugno 2017 (segue)

Nota 1 - Informazioni generali (segue) UBI SICAV - Global Inflation Linked (2)




Il Consiglio di Amministrazione della SICAV può emettere una o più classi di azioni per ogni comparto. La struttura dei costi, il minimo previsto per l'investimento iniziale, la valuta nella quale è espresso il valore patrimoniale netto e le categorie di investitori ammissibili possono differire a seconda delle diverse classi di azioni. Le diverse classi possono anche differire in base ad altri fattori oggettivi determinati dal Consiglio di Amministrazione della SICAV.

I comparti offrono le seguenti categorie di classe di azioni, che si differenziano principalmente per le diverse spese, commissioni e politiche distributive:

Classi

1 2 A B C D E(3) F I M R U

UBI SICAV - Euro Fixed Income - - - - x - - - x - x x

UBI SICAV - Euro Equity - - - - - x x(1) x x x x x UBI SICAV - USA Equity - - - - - x - x x x x x UBI SICAV - Asia Pacific Equity - - - - - x - x x x x x UBI SICAV - Emerging Markets Equity - - - - - x - x x x x x UBI SICAV - Global Equity - - - - x x - x x x x x UBI SICAV - Euro Corporate Bond - - - - x x - x x - x x UBI SICAV - High Yield Bond - - x - x x - x x - x x UBI SICAV - Short Term EUR - - - - - - - - x - x - UBI SICAV - Euro Liquidity Plus - - - - - - - - x - x - UBI SICAV - Active Beta - - - - - - - - x - x (1) - UBI SICAV - Global Corporate Bond - - - - x x - x x - x x UBI SICAV - Euro Corporate Short Term - - - - - x - - x - x - UBI SICAV - Euro Equity High Dividend - - - - x x - x x - x x UBI SICAV - Emerging Markets Bond - - - - x x - x x - x x UBI SICAV - Global Dynamic Allocation - - x x x x - x x - x x UBI SICAV - Cedola Certa 2012-2015 (2) - - - - - - - - - - x -

UBI SICAV - Beta Neutral - - - - - - - - x - x (1) - UBI SICAV - Long/Short Euro - - - - - x - x x - x x UBI SICAV - Cedola Certa 2013-2016 - - - - - - - - - - x - UBI SICAV - Protezione e Crescita 2017 - - - - - - - - - - x - UBI SICAV - Cedola Certa 2013-2017 - - - - - - - - - - x - UBI SICAV - Focus Italia - - - - - - - - - - x - UBI SICAV - Cedola Mercati Emergenti - - - - - - - - - - x - UBI SICAV - Protezione Mercati Emergenti - - - - - - - - - - x - UBI SICAV - Multiasset Europe 50 - - x - - - - - - - - - UBI SICAV - Global High Yield Euro Hedged - - - - x x - x x - x x UBI SICAV - Global Multiasset 30 - - x - x x - x x - x x UBI SICAV - Italian Equity - - - - - x - x x x x x

UBI SICAV - Income Opportunities - - x - x x - x x (1) - x x UBI SICAV - European Equity - - - - x x - x x x x x

UBI SICAV - Global Stars x x x x x - - - x (1) - x x UBI SICAV - Social 4 Future x - x - x - - - x - x x UBI SICAV - Global Multiasset 15 x x x - x x - x x - x x UBI SICAV - Euro Corporate Bond High Potential x x x - x - - - x - x x

UBI SICAV - Obiettivo Stabilità x x x - - - - - x (1) - x - (1) (1)

UBI SICAV - Obiettivo Controllo x x x - - - - - x - x - UBI SICAV - Globo (Global Bond) x - x - - - - - x (1) - x x UBI SICAV - US Core Equity - - - - - - - - x - x (1) x UBI SICAV - Global Inflation Linked (2) - - - - - - - - x - - - UBI SICAV - Strategic Bond (2) - - x - - - - - x (1) - x x UBI SICAV - Euro High Yield (2) - - - - - - - - x - - - UBI SICAV - Italian Mid Cap Equity (2) - - - - - - - - x - - -

(1) La classe di azione non è attiva. (2) Cfr. Nota 17. (3) Classe di azioni emessa durante in periodo.

253

UBI SICAV


Nota 1 – Informazioni generali (segue) I gruppi di Classi di Azioni disponibili sono i seguenti:

- Investitori retail e instituzionali - investitori Instituzionali - investitori Instituzionali e OICVM feeder

Un prospetto informativo e il documento contenente le informazioni chiave per gli investitori (KIID) sono disponibili gratuitamente su richiesta presso la sede legale della SICAV.

Gli obiettivi e le politiche di investimento da perseguire in ciascun comparto sono descritti negli allegati relativi a ciascun comparto nel prospetto informativo.

Nota 2 - Principi Contabili Rilevanti

a) Presentazione dei bilanci

I bilanci sono redatti in conformità alle disposizioni di legge e regolamentari lussemburghesi in materia di organismi di investimento collettivo e ai principi contabili generalmente accettati. Il bilancio riflette il Valore Patrimoniale Netto calcolato al 30 giugno 2017 sulla base degli ultimi prezzi di mercato dell'investimento disponibili.

I dati relativi a ciascun Comparto sono presentati in EUR, vale a dire la divisa per tutti i comparti, mentre i bilanci aggregati sono presentati a titolo puramente informativo. Tutti gli importi relativi agli investimenti del comparto trasversale sono stati eliminati dal calcolo delle cifre aggregate.

b) Investimenti in titoli e strumenti del mercato monetario

Il valore di tutti i titoli e strumenti di mercato monetario o derivati in portafoglio ammessi alla quotazione ufficiale o negoziati su ogni altro mercato regolamentato è quello dell’ultima quotazione conosciuta sul mercato principale in cui tali titoli, strumenti di mercato monetario o derivati sono negoziati, come rilevata da un servizio di fornitura dei prezzi riconosciuto e approvato dal Consiglio di Amministrazione della SICAV. Se tali prezzi non sono rappresentativi del fair value, di tali titoli, strumenti del mercato monetario e altre attività consentite, il valore di tali titoli sarà determinato dal Consiglio di Amministrazione della SICAV, sulla base dei proventi di vendita ragionevolmente prevedibili determinati con prudenza e in buona fede.

Il valore dei titoli e degli strumenti di mercato monetario non quotati o non negoziati su un mercato regolamentato è quello dell’ultimo prezzo disponibile, salvo che tale prezzo non sia rappresentativo del loro valore reale; in tal caso, essi possono essere valutati al fair value stimato per la rivendita, determinato in buona fede e sotto la supervisione del Consiglio di Amministrazione.

Il valore dell’investimento in Fondi sarà determinato sulla base dell'ultima valutazione disponibile. In generale, gli investimenti in Fondi saranno valutati secondo le modalità descritte negli strumenti che regolano tali Fondi d'Investimento. Tali valutazioni sono di norma fornite dall'amministratore del fondo o dall'agente di valutazione di un fondo di investimento. Al fine di garantire la coerenza nella valutazione di ciascun comparto, se il momento in cui è stata calcolata la valutazione di un fondo d'investimento non coincide con il momento della valutazione di un comparto, e se si ritiene che tale valutazione sia cambiata in modo significativo da quando è stata calcolata, il Valore Patrimoniale Netto può essere corretto in modo da riflettere tali variazioni, determinate in buona fede dal Consiglio di Amministrazione della SICAV e sotto la supervisione di quest' ultimo.

Il valore di un investimento rappresentato da un OICR/OICVM in cui la SICAV investe può essere influenzato dalle oscillazioni della valuta del paese in cui tale OICR/OICVM investe, o da regole di cambio di altri paesi, dall'applicazione di varie leggi fiscali dei paesi interessati, tra cui le ritenute alla fonte, dai cambiamenti di governo o dalle variazioni della politica monetaria ed economica dei paesi interessati. Va inoltre rilevato che il Valore Netto per Azione oscillerà principalmente alla luce del valore patrimoniale netto degli OICR/OICVM in questione. Gli investimenti in altri Fondi d'Investimento possono comportare per l'investitore una duplicazione delle Commissioni di gestione e di altre spese relative al fondo operante.

c) Valutazione di altre attività

Il valore della liquidità disponibile o in depositi bancari, le distinte di sconto, le fatture, le cambiali a vista e i crediti, le spese anticipate, i dividendi in contanti e gli interessi dichiarati o maturati e non ancora ricevuti saranno considerati per il totale ammontare, salvo che sia improbabile che tali somme siano pagate o ricevute per intero, nel qual caso il valore sarà determinato dopo aver effettuato tale sconto, poiché il Consiglio di Amministrazione della SICAV potrebbe considerare opportuno contabilizzare il valore reale.

d) Valutazione dei derivati

- Operazioni swap

La SICAV può stipulare contratti di Interest Rate Swap (IRS), Credit Default Swap (CDS) e Total Return Swap (TRS). Gli Interest Rate Swap sono valutati sulla base del Valore di Mercato determinato con riferimento alla curva dei tassi di interesse applicabile. I Credit Default Swap sono valutati con riferimento al valore attuale netto dei flussi di cassa futuri attesi, sulla base dei tassi di interesse di mercato e del tasso di inadempienza e di recupero attesi dal mercato dell'attività sottostante. Il valore di mercato stimato si basa sugli elementi valutativi previsti nei contratti e viene ottenuto tramite agenti di prezzo, market maker o modelli interni di terze parti. La movimentazione netta del plusvalore/(deprezzamento) non realizzato derivante da operazioni di swap è registrata nel Prospetto delle Operationi e delle Variazioni del Patrimonio Netto.

254

UBI SICAV

Nota Integrativa al 30 giugno 2017 (segue) Nota 2 - Principi Contabili Rilevanti (segue)

d) Valutazione dei derivati (segue)

- Swaption

ll valore di una swaption è determinato confrontando i flussi futuri attualizzati sul valore del premio annuo pagato dall'acquirente della protezione con il valore attuale delle perdite attese sull'attività di riferimento, qualora si verifichino eventi creditizi specificati nel contratto di swap. La variazione netta della plusvalenza o perdita non realizzata derivante da operazioni di swaption è registrata nel Prospetto delle Operationi e delle Variazioni del Patrimonio Netto.

- Opzioni

Le opzioni in essere negoziate su un mercato regolamentato sono valutate all'ultimo prezzo di mercato disponibile alla data di valutazione. Le opzioni over-the-counter (OTC) sono valutate sulla base dei prezzi ricevuti da agenti di prezzo terzi o dal modello interno. La movimentazione degli utili o perdite non realizzati derivanti al momento della rilevazione contabile dalla valutazione degli scambi di opzioni è contabilizzata nel Conto Economico e nella Variazione del Patrimonio Netto.

e) Valutazione di operazioni di cambio a termine

Le plusvalenze o le minusvalenze di cambio non realizzate, che risultano dai contratti di cambio a termine non scaduti, sono determinate al giorno di valutazione, sulla base dei tassi di cambio a termine applicabili a tale data e sono riportate nel Prospetto delle Operationi e delle Variazioni del Patrimonio Netto.

f) Valuazione dei contratti futures

I contratti futures sono valutati utilizzando i prezzi di regolamento giornalieri quotati stabiliti dalla borsa valori in cui sono negoziati. La SICAV e l'intermediario convengono di scambiare un importo in contanti pari alle oscillazioni giornaliere del valore del contratto future (il "margine di variazione"). Per i contratti futures aperti, le variazioni di valore del contratto sono rilevate come utili/(perdite) non realizzate nel Prospetto del Patrimonio Netto. Al momento della chiusura del contratto, la differenza tra il provento (o costo) delle operazioni di chiusura e l'operazione originaria è contabilizzata come plusvalenza o minusvalenza realizzata nel Prospetto delle Operationi e delle Variazioni del Patrimonio Netto.

g) Dividendi e interessi attivi

I dividendi sono riportati al netto delle ritenute d'acconto dedotte alla fonte e sono rilevati come utili alla data di stacco cedola. Gli interessi attivi maturano su base giornaliera.

h) Contratto per Differenza

Ad ogni data di valutazione la differenza tra il prezzo di apertura e il prezzo corrente di mercato del titolo sottostante al contratto di differenza è registrata come Valore di Mercato (utile/(perdita non realizzata) del contratto. Quando il comparto effettua un'operazione di chiusura, la differenza tra l'importo nozionale iniziale e quello finale del titolo sottostante è registrata come utile/(perdita) realizzato nel Prospetto delle Operationi e delle Variazioni del Patrimonio Netto.

i) Conversione delle divise estere per ogni comparto

I conti sono tenuti in Euro e i rendiconti finanziari sono espressi in tale valuta. Gli attivi e passivi espressi in divise diverse dalla divisa di denominazione di ogni comparto sono convertiti in tale divisa ai tassi di cambio in vigore il giorno di valutazione. I ricavi e le spese espresse in divise diverse dalla divisa di denominazione di ogni comparto sono convertiti nella divisa del comparto ai tassi di cambio validi alla data della transazione.

I principali tassi di cambio utilizzati al 30 giugno 2017 sono i seguenti:

EUR 1 = AED 4.190607 EUR 1 = HUF 309.250122 EUR 1 = QAR 4.197793 EUR 1 = ARS 18.952598 EUR 1 = IDR 15,205.278592 EUR 1 = RON 4.558806 EUR 1 = AUD 1.487399 EUR 1 = ILS 3.981306 EUR 1 = RUB 67.625089 EUR 1 = BRL 3.780094 EUR 1 = INR 73.741030 EUR 1 = SEK 9.621532 EUR 1 = CAD 1.481700 EUR 1 = JPY 128.191873 EUR 1 = SGD 1.571000 EUR 1 = CHF 1.092400 EUR 1 = KRW 1,305.148741 EUR 1 = THB 38.761086 EUR 1 = CLP 758.444149 EUR 1 = MXN 20.648396 EUR 1 = TRY 4.018700 EUR 1 = CNH 7.734608 EUR 1 = MYR 4.899493 EUR 1 = TWD 34.704433 EUR 1 = COP 3,488.379205 EUR 1 = NOK 9.556002 EUR 1 = USD 1.140700 EUR 1 = CZK 26.129882 EUR 1 = NZD 1.558299 EUR 1 = ZAR 14.951764 EUR 1 = DKK 7.435194 EUR 1 = PEN 3.703896 EUR 1 = GBP 0.878300 EUR 1 = PHP 57.570405 EUR 1 = HKD 8.905109 EUR 1 = PLN 4.230502

j) Utili e perdite realizzati su cessioni di investimenti in titoli

Gli investimenti in titoli sono contabilizzati alla data di negoziazione. I profitti e le perdite realizzati sulle vendite di investimenti in titoli sono calcolati sulla base del costo medio.

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UBI SICAV


k) Valuatazione di prestito titoli

La SICAV può prestare i titoli del suo portafoglio a un mutuatario per il tramite di un intermediario terzo; le attività continuano ad essere valutate come parte del portafoglio della SICAV. Nel caso in cui i prezzi dei titoli prestati non siano rappresentativi del loro fair value, tutti questi titoli saranno valutati al fair value al quale si prevede che saranno rivenduti, determinato in buona fede o sotto la supervisione del Consiglio di Amministrazione della SICAV. Le operazioni di prestito titoli generano per la SICAV proventi aggiuntivi secondo quanto previsto dai contratti; la remunerazione è contabilizzata come "Ricavi da Prestito Titoli" nel Prospetto delle Operationi e delle Variazioni del Patrimonio Netto.

l) Imposta sui redditi di capitale non realizzata da acquisto titoli

Ai fini di ogni calcolo del NAV, l'imposta sulle plusvalenze sui titoli indiani deve essere versata quando si vende un titolo azionario con un utile.

La valuta utilizzata per calcolare l'imposta è la rupia indiana (INR). Il calcolo dell' imposta sulle plusvalenze è il seguente: Tassa% * (Valore di Mercato nella valuta del titolo – Costo contabilizzazione nella valuta del titolo) * Tasso di cambio del giorni

m) Commissioni di avviamento

Il primo giorno di valutazione dei seguenti comparti è stata addebitata ai suoi azionisti una commissione di avviamento come segue:

UBI SICAV - High Yield Bond UBI SICAV - Global Dynamic Allocation UBI SICAV - Cedola Certa 2012-2015 (1)

UBI SICAV - Cedola Certa 2013-2016 UBI SICAV - Protezione e Crescita 2017 UBI SICAV - Cedola Certa 2013-2017 UBI SICAV - Focus Italia UBI SICAV - Cedola Mercati Emergenti UBI SICAV - Protezione Mercati Emergenti UBI SICAV - Multiasset Europe 50 UBI SICAV - Global Multiasset 30 UBI SICAV - Income Opportunities UBI SICAV - Global Stars



2.60% (solo per le azioni di Classe A) dal 09/04/2013 3.00% (per le azioni di Classe A e B) dal 15/01/2013 2.60% dal 12/12/2011 2.60% dal 20/03/2012 2.70% dal 18/05/2012 2.70% dal 23/10/2012 1.85% dal 17/07/2012 2.95% dal 17/07/2012 3.00% dal 21/05/2013 2.70% (solo per le azioni di Classe A) dal 22/10/2013 2.90% (solo per le azioni di Classe A) dal 04/02/2015 2.60% (solo per le azioni di Classe A) dal 22/07/2015 2.90% (per le azioni di Classe A, Classe 1, dal 03/02/2016 Classe 2 e Classe B) 2.50% (per le azioni di Classe A e Classe 1) dal 03/02/2016 2.90% (per le azioni di Classe A, Classe 1 e dal 04/05/2016 Classe 2)

UBI SICAV - Euro Corporate Bond High Potential 2.90% (per le azioni di Classe A, Classe 1 e dal 04/05/2016 Classe 2)

UBI SICAV - Obiettivo Stabilità 2.60% (per le azioni di Classe A, Classe 1 e dal 26/10/2016 Classe 2)

UBI SICAV - Obiettivo Controllo 2.60% (solo per le azioni di Classe A) dal 26/10/2016 UBI SICAV - Globo (Global Bond) 2.60% (solo per le azioni di Classe A) dal 26/10/2016 UBI SICAV - Strategic Bond (1) 2.60% (solo per le azioni di Classe A) dal 12/06/2017

La commissione è stata calcolata sul Prezzo Iniziale moltiplicato per il Numero di azioni in circolazione al primo Giorno di Valutazione. Tale corrispettivo copre il l'attività dell'intermediario, prevalentemente concentrata nella fase di avviamento a causa della struttura del comparto per il quale le richieste di sottoscrizioni di questo comparto ricevute dopo il periodo iniziale di sottoscrizione o dopo la proroga del periodo iniziale di sottoscrizione non saranno considerate.

Tale commissione è stata iscritta tra le attività del Prospetto del Patrimonio Netto alla voce Commissioni di avviamento capitalizzate ed è ammortizzata in 5 anni (periodo di 2 anni per Protezione e Crescita 2017, periodo di 4 anni per Focus Italia, periodo di 6 anni per Cedola Certa 2013-2017). Tale attività è stata ridotta nel corso dell'esercizio di una parte della commissione di rimborso di seguito descritta, corrispondente alla frazione non ammortizzata della commissione di avviamento relativa alle azioni rimborsate. L'ammortamento dei costi di avviamento è contabilizzato nel Conto Economico e Variazioni del Patrimonio Netto all voce "Ammortamento commissioni di avviamento".

n) Commissione di collocamento

Per tutti i comparti viene addebitata una commissione di collocamento alle azioni di Classe "F", pari al 4%, e alle azioni di Classe "U", pari al 2,6%, al momento di ogni sottoscrizione; tale commissione viene ammortizzata nei primi quattro anni successivi a ciascuna sottoscrizione con addebito giornaliero sul valore netto complessivo della classe di azioni. (1) Cfr. Nota 17.

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n) Commissione di collocamento (segue)

L'ammortamento delle commissioni di collocamento è iscritto nel Prospetto delle Operazioni e nella Variazione del Patrimonio Netto alla voce "Ammortamento delle commissioni di collocamento".

L'importo capitalizzato delle commissioni di collocamento è iscritto nel Prospetto del Patrimonio Netto alla voce "Commissioni collocamento capitalizzate ".

o) Commissioni di rimborso

Come descritto nel prospetto informativo, una commissione di rimborso in favore dei comparti sarà applicata alle seguenti aliquote:

Classes

Comparto CLASS CLASS CLASS "1" "2" "A"

CLASS CLASS CLASS CLASS "B" "C" "E" ** "F"

CLASS CLASS "R" "U"

UBI SICAV - Euro Fixed Income - - - - (1) - - (1) (2)

UBI SICAV - Euro Equity - - - - - - (3) (1) (2)

UBI SICAV - USA Equity - - - - - - (3) (1) (2)

UBI SICAV - Asia Pacific Equity - - - - - - (3) (1) (2)

UBI SICAV - Emerging Markets Equity - - - - - - (3) (1) (2)

UBI SICAV - Global Equity - - - - (1) - (3) (1) (2)

UBI SICAV - Euro Corporate Bond - - - - (1) - (3) (1) (2)

UBI SICAV - High Yield Bond - - (9) - (1) - (3) (1) (2)

UBI SICAV - Short Term EUR - - - - - - - (1) -

UBI SICAV - Euro Liquidity Plus - - - - - - - (1) -

UBI SICAV - Active Beta - - - - - - - (1) -

UBI SICAV - Global Corporate Bond - - - - (1) - (3) (1) (2)

UBI SICAV - Euro Corporate Short Term - - - - - - - (1) -

UBI SICAV - Euro Equity High Dividend - - - - (1) - (3) (1) (2)

UBI SICAV - Emerging Market Bond - - - - (1) - (3) (1) (2)

UBI SICAV - Global Dynamic Allocation - - (10) (11) (1) - (3) (1) massimo 1.05% p.a.

UBI SICAV - Cedola Certa 2012-2015 * - - - - - - - (12) -

UBI SICAV - Beta Neutral - - - - - - - (1) -

UBI SICAV - Long /Short Euro - - - - - - (3) (20) (2)

UBI SICAV - Cedola Certa 2013-2016 - - - - - - - (13) -

UBI SICAV - Protezione e Crescita 2017 - - - - - - - (14) -

UBI SICAV - Cedola Certa 2013-2017 - - - - - - - (15) -

UBI SICAV - Focus Italia - - - - - - - (16) -

UBI SICAV - Cedola Mercati Emergenti - - - - - - - (17) -

UBI SICAV - Protezione Mercati Emergenti - - - - - - - (18) -

UBI SICAV - Multiasset Europe 50 - - (19) - - - - - -

UBI SICAV - Global High Yield Euro Hedged - - - - (1) - (3) (1) (2)

UBI SICAV - Global Multiasset 30 - - (8) - (1) - (3) (1) (2)

UBI SICAV - Italian Equity - - - - - - (3) (1) (2)

UBI SICAV - Income Opportunities - - (4) - (1) - (3) (1) (2)

UBI SICAV - European Equity - - - - (1) - (3) (1) (2)

* Cfr. Nota 17. ** Classe di azioni emessa durante il periodo.

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Nota Integrativa al 30 giugno 2017 (segue) Nota 2 - Principi Contabili Rilevanti

o) Commissioni di rimborso (segue)

Comparto

(segue)

CLASS CLASS CLASS "1" "2" "A"

Classi

CLASS CLASS CLASS CLASS CLASS CLASS "B" "C" "E" ** "F" "R" "U"

UBI SICAV - Global Stars (5) (5) (5) (5) (1) - - (1) -

UBI SICAV - Social 4 Future (6) - (6) - (1) - - (1) -

UBI SICAV - Global Multiasset 15 (5) (5) (5) - (1) - (3) (1) (2)

UBI SICAV - Euro Corporate Bond High Potential - - (5) - (1) - - (1) (2)

UBI SICAV - Obiettivo Stabilita - - (7) - - - - (1) -

UBI SICAV - Obiettivo Controllo - - (7) - - - - (1) -

UBI SICAV - Globo (Global Bond) - - (7) - - - - (1) -

UBI SICAV - US Core Equity - - - - - - - (1) -

UBI SICAV - Strategic Bond * - - (4) - - - - (1) -

(1) massimo 3.0%, in favore degli intermediari

(2) nei primi quattro (4) anni successivi a ciascuna sottoscrizione sarà applicata una commissione di rimborso decrescente a favore della classe di azioni. Tale commissione di rimborso sarà prelevata dal controvalore rimborsato e applicata al numero di quote riscattate, moltiplicate per il rispettivo valore di sottoscrizione iniziale. Il comparto rimborserà le azioni tenendo conto dell’ordine in cui le stesse sono state sottoscritte dall’Azionista (vale a dire su base “first-in first-out”). L‘aliquota della commissione di rimborso da applicare alle azioni riscattate, in funzione della rispettiva durata della sottoscrizione, è determinata come segue: Aliquota commissione di rimborso = (GG_TOTALI – GG_TRASCORSI)*(2,60% / GG_TOTALI) dove: - GG_TRASCORSI è il numero di giorni trascorsi dalla sottoscrizione dell’azione fino alla data del valore della quota utilizzato per l’avvaloramento del rimborso; - GG_TOTALI è il numero di giorni compresi nei quattro anni successivi alla sottoscrizione, ossia il tempo previsto per ammortizzare la commissione di collocamento.

(3) nei primi quattro (4) anni successivi a ciascuna sottoscrizione sarà applicata una commissione di rimborso decrescente a favore della classe di azioni. Tale commissione di rimborso sarà prelevata dal controvalore rimborsato e applicata al numero di quote riscattate, moltiplicate per il rispettivo valore di sottoscrizione iniziale. Il comparto rimborserà le azioni tenendo conto dell’ordine in cui le stesse sono state sottoscritte dall’Azionista (vale a dire su base “first-in first-out”). L‘aliquota della commissione di rimborso da applicare alle azioni riscattate, in funzione della rispettiva durata della sottoscrizione, è determinata come segue: Aliquota commissione di rimborso = (GG_TOTALI – GG_TRASCORSI) * (4,00% / GG_TOTALI) dove: - GG_TRASCORSI è il numero di giorni trascorsi dalla sottoscrizione dell’azione fino alla data del valore della quota utilizzato per l’avvaloramento del rimborso; - GG_TOTALI è il numero di giorni compresi nei quattro anni successivi alla sottoscrizione, ossia il tempo previsto per ammortizzare la commissione di collocamento.

(4) nei primi cinque anni successivi al termine del Periodo di Sottoscrizione, in caso di rimborso, rimborso programmato o rimborso con successiva operazione di sottoscrizione di altri comparti (“switch”), verrà applicata una commissione di rimborso decrescente a favore dellla Classe di azione, prelevata dal controvalore rimborsato e applicata al numero di quote riscattate moltiplicate per il valore netto della quota iniziale (5 Euro). L‘aliquota della commissione di rimborso - applicata esclusivamente sulle quote sottoscritte nel periodo d’offerta – è determinata come segue: Aliquota commissione di rimborso = (GG_TOTALI – GG_TRASCORSI) * (2,60% / GG_TOTALI) dove: - GG_TOTALI è il numero di giorni compresi nei cinque anni successivi al termine del Periodo di Sottoscrizione, ossia il tempo previsto per ammortizzare la commissione di entrata; - GG_TRASCORSI è il numero di giorni trascorsi dal termine del Periodo di Sottoscrizione fino alla data di calcolo del valore unitario della quota utilizzato per l’avvaloramento del rimborso.

* Cfr. Nota 17. ** Classe di azioni emessa durante il periodo.

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o) Redemption fees (segue)

(5) per le azioni detenute per meno di 5 anni successivi al termine del Periodo di Sottoscrizione, in caso di rimborso, rimborso programmato o rimborso con successiva operazione di sottoscrizione di altri comparti (“switch”), verrà applicata una commissione di rimborso decrescente a favore della Classe di azione, prelevata dal controvalore rimborsato e applicata al numero di quote riscattate moltiplicate per il valore quota iniziale (5 Euro). L‘aliquota della commissione di rimborso - applicata esclusivamente sulle quote sottoscritte nel periodo d’offerta – è determinata come segue: Aliquota commissione di rimborso = (GG_TOTALI – GG_TRASCORSI) * (2,90% / GG_TOTALI) dove: - GG_TOTALI è il numero di giorni compresi nei cinque anni successivi al termine del Periodo di Sottoscrizione, ossia il tempo previsto per ammortizzare la commissione di entrata; - GG_TRASCORSI è il numero di giorni trascorsi dal termine del Periodo di Sottoscrizione fino alla data di calcolo del valore unitario della quota utilizzato per l’avvaloramento del rimborso.

(6) per le azioni detenute per meno di 5 anni successivi al termine del Periodo di Sottoscrizione, in caso di rimborso, rimborso programmato o rimborso con successiva operazione di sottoscrizione di altri comparti (“switch”), verrà applicata una commissione di rimborso decrescente a favore della Classe di azione, prelevata dal controvalore rimborsato e applicata al numero di quote riscattate moltiplicate per il valore quota iniziale (5 Euro). Aliquota commissione di rimborso = (GG_TOTALI – GG_TRASCORSI) * (2,50% / GG_TOTALI) dove: - GG_TOTALI è il numero di giorni compresi nei cinque anni successivi al termine del Periodo di Sottoscrizione, ossia il tempo previsto per ammortizzare la commissione di entrata; - GG_TRASCORSI è il numero di giorni trascorsi dal termine del Periodo di Sottoscrizione fino alla data di calcolo del valore unitario della quota utilizzato per l’avvaloramento del rimborso.

(7) per le azioni detenute per meno di 5 anni successivi al termine del Periodo di Sottoscrizione, in caso di rimborso, rimborso programmato o rimborso con successiva operazione di sottoscrizione di altri comparti (“switch”), verrà applicata una commissione di rimborso decrescente a favore della Classe di azione, prelevata dal controvalore rimborsato e applicata al numero di quote riscattate moltiplicate per il valore quota iniziale (5 Euro). L‘aliquota della commissione di rimborso - applicata esclusivamente sulle quote sottoscritte nel periodo d’offerta – è determinata come segue: Aliquota commissione di rimborso = (GG_TOTALI – GG_TRASCORSI)*(2,60% / GG_TOTALI) dove: - GG_TRASCORSI è il numero di giorni trascorsi dal termine del Periodo di Sottoscrizione fino alla data di calcolo del valore della quota utilizzato per l’avvaloramento del rimborso; - GG_TOTALI è il numero di giorni compresi nei cinque anni successivi al termine del Periodo di Sottoscrizione, ossia il tempo previsto per ammortizzare la commissione di distribuzione.

(8) per le azioni detenute per meno di 5 anni successivi al termine del Periodo di Sottoscrizione, in caso di rimborso o switch in favore della classe di azioni, share class, verrà applicata una commissione di Rimborso, calcolata sul valore delle quote riscattate moltiplicate per il Prezzo Iniziale e in base all’aliquota seguente: Aliquota commissione di rimborso = (GG_TOTALI – GG_TRASCORSI)*(2,90% / GG_TOTALI) dove: - GG_TRASCORSI è il numero di giorni trascorsi dal termine del Periodo di Sottoscrizione fino alla data di Rimborso compresa; - GG_TOTALI è il numero di giorni compresi nel Periodo di Ammortamento.

(9) - 2,08% dal 09/04/2014 al 08/04/2015 (compreso); - 1,56% dal 09/04/2015 al 08/04/2016 (compreso); - 1,04% dal 09/04/2016 al 08/04/2017 (compreso); - 0,52% dal 09/04/2017 al 08/04/2018 (compreso); - zero dal 09/04/2018.



(12) - 1,0% dal 13/12/2014 al 12/12/2015 (compreso); - 0,5% dal 13/12/2015 al 08/12/2016 (compreso); - zero dal 09/12/2016.

(13) - 1,6% dal 20/03/2014 al 19/03/2015 (compreso); - 1,0% dal 20/03/2015 al 19/03/2016 (compreso); - 0,5% dal 20/03/2016 al 16/03/2017 (compreso); - zero dal 17/03/2017.

(14) massimo 0,75% dal 18/05/2014 al 17/05/2015 (compreso); massimo 0,50% dal 18/05/2015 al 03/08/2017 (compreso); - zero dal 04/08/2017.

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UBI SICAV


o) Redemption fees (segue)

(15) massimo 1,80% dal 23/10/2014 al 22/10/2015 (compreso); massimo 1,35% dal 23/10/2015 al 22/10/2016 (compreso); massimo 0,90% dal 23/10/2016 al 22/10/2017 (compreso); massimo 0,45% dal 23/10/2017 al 18/10/2018 (compreso);

- zero dal 19/10/2018.

(16) - 0,93% dal 17/07/2014 al 16/07/2015 (compreso); - 0,47% dal 17/07/2015 al 16/07/2016 (compreso); - zero dal 17/07/2016.

(17) - 1,77% dal 17/07/2014 al 16/07/2015 (compreso); - 1,18% dal 17/07/2015 al 16/07/2016 (compreso); - 0,60% dal 17/07/2016 al 16/07/2017 (compreso); - zero dal 17/07/2017.

(18) massimo 2,75% dal 21/05/2014 al 20/05/2015 (compreso); massimo 2,15% dal 21/05/2015 al 20/05/2016 (compreso); massimo 1,55% dal 21/05/2016 al 20/05/2017 (compreso); massimo 0,95% dal 21/05/2017 al 20/05/2018 (compreso);

- 0,20% dal 21/05/2018.


(20) massimo 3,0% calcolato sul NAV e da corrispondere all’intermediario. Se non quotate o menzionate sopra, non verrà addebitata alcuna commissione di rimborso decrescente a favore di queste Classi di Azioni.

Ad eccezione delle Classi U ed F, in caso di conversione di un comparto, comprese le classi di azioni con commissione d'avviamento, con commissione d' avviamento in un altro comparto/ Classe di azione prima della fine del periodo di applicazione della commissione di rimborso, la commissione di rimborso verrà comunque applicata alla conversione.

La voce "Altri ricavi" riporta le "Commissioni di Rimborso" nel Conto Economico e negli Oneri del Patrimonio Netto.

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UBI SICAV


p) Commissioni di sottoscrizione

Come riportato nel prospetto informativo, una commissione di sottoscrizione in favore dei comparti sarà applicata alle seguenti tariffe:

Classi

Aliquote massime del comparto CLASS CLASS CLASS CLASS CLASS CLASS CLASS CLASS CLASS CLASS CLASS

"1" "2" "A" "B" "C" "D" "F" "I" "M" "R" "U"

UBI SICAV - Euro Fixed Income - - - - 4% - - - - 4%(2) -

UBI SICAV - Euro Equity - - - - - 4% - - - 4%(2) -

UBI SICAV - USA Equity - - - - - 4% - - - 4%(2) -

UBI SICAV - Asia Pacific Equity - - - - - 4% - - - 4%(2) -

UBI SICAV - Emerging Markets Equity - - - - - 4% - - - 4%(2) -

UBI SICAV - Global Equity - - - - 4% 4% - - - 4%(2) -

UBI SICAV - Euro Corporate Bond - - - - 4% 4% - - - 4% -

UBI SICAV - High Yield Bond - - - - 4% 4% - - - 4% -

UBI SICAV - Short Term EUR - - - - - - - - - 4% -

UBI SICAV - Euro Liquidity Plus - - - - - - - - - 4%(2) -

UBI SICAV - Active Beta - - - - - - - - - 4% -

UBI SICAV - Global Corporate Bond - - - - 4% 4% - - - 4% -

UBI SICAV - Euro Corporate Short Term - - - - - 4% - - - 4% -

UBI SICAV - Euro Equity High Dividend - - - - 4% 4% - - - 4% -

UBI SICAV - Emerging Market Bond - - - - 4% 4% - - - 4% -

UBI SICAV - Global Dynamic Allocation - - - - 4% 4% - - - 4% -

UBI SICAV - Cedola Certa 2012-2015 (1) - - - - - - - - - - -

UBI SICAV - Beta Neutral - - - - - - - - - 4% -

UBI SICAV - Long /Short Euro - - - - - 4% - - - 4% -

UBI SICAV - Cedola Certa 2013-2016 - - - - - - - - - - -

UBI SICAV - Protezione e Crescita 2017 - - - - - - - - - - -

UBI SICAV - Cedola Certa 2013-2017 - - - - - - - - - - -

UBI SICAV - Focus Italia - - - - - - - - - - -

UBI SICAV - Cedola Mercati Emergenti - - - - - - - - - - -

UBI SICAV - Protezione Mercati Emergenti - - - - - - - - - - -

UBI SICAV - Multiasset Europe 50 - - - - - - - - - - -

UBI SICAV - Global High Yield Euro Hedged - - - - 4% 4% - - - 4% -

UBI SICAV - Global Multiasset 30 - - - - 4% 4% - - - 4% -

UBI SICAV - Italian Equity - - - - - 4% - - - 4% -

UBI SICAV - Income Opportunities - - - - 4% 4% - - - 4% -

UBI SICAV - European Equity - - - - 4% 4% - - - 4% -

UBI SICAV - Global Stars - - - - 4% - - - - 4% -

UBI SICAV - Social 4 Future - - - - 4% - - - - 4% -

UBI SICAV - Global Multiasset 15 - - - - 4% 4% - - - 4% -

UBI SICAV - Euro Corporate Bond High Potential - - - - 4% - - - - 4% -

UBI SICAV - Obiettivo Stabilita - - - - - - - - - 4% -

UBI SICAV - Obiettivo Controllo - - - - - - - - - 4% -

UBI SICAV - Globo (Global Bond) - - - - - - - - - 4% -

UBI SICAV - US Core Equity - - - - - - - - - 4% -

UBI SICAV - Global Inflation Linked (1) - - - - - - - - - - -

UBI SICAV - Strategic Bond (1) - - - - - - - - - 4% -

UBI SICAV - Euro High Yield (1) - - - - - - - - - - -

UBI SICAV - Italian Mid Cap Equity (1) - - - - - - - - - - -

q) Retrocessioni

La SICAV può ricevere retrocessioni di parte o di tutta la gestione o commissioni di distribuzione dai fondi target sottostanti. Tali retrocessioni sono iscritte alla voce "Altri ricavi". (1) Cfr. Nota 17. (2) Emesso solo il 15 dicembre 2008 o in data successiva.

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UBI SICAV


Nota 3 – Gestione e Commissioni di distribuzione

A titolo remunerativo per servizi di gestione e distribuzione, come riportato in Parte III, punto V dell’ultimo prospetto informativo disponibile, la Società di Gestione addebiterà ad ogni comparto una commissione di gestione, calcolata giornalmente sul totale del patrimonio netto dei comparti e pagabile mensilmente in via posticipata. All 30 giugno 2017, l’aliquota massima delle commissioni di gestione applicabile alle Classi di Azioni attive è riportata nello schema seguente:

Aliquote della commissione di gesione del Comparto

CLASS CLASS CLASS "1" "2" "A" (Aliquota (Aliquota (Aliquota annuale annuale annuale applica applica applica bile) abile) abile)

CLASS CLASS CLASS "B" "C" "D" (Aliquota (Aliquota (Aliquota annuale annuale annuale applica applica applica abile) abile) abile)

CLASS CLASS CLASS "F" "I" "M" (Aliquota (Aliquota (Aliquota annuale annuale annuale applic- applica applica able) abile) abile)

CLASS CLASS "R" "U" (Aliquota(Aliquota annuale annuale applica applica aible) abile)

UBI SICAV - Euro Fixed Income - - - - 1.00% - - 0.30% - 1.00% 0.35%

UBI SICAV - Euro Equity - - - - - 1.50% 1.60% 0.65% N/a 2.00% 1.35%

UBI SICAV - USA Equity - - - - - 1.50% 1.60% 0.65% N/a 2.00% 1.35%

UBI SICAV - Asia Pacific Equity - - - - - 1.50% 1.60% 0.65% N/a 2.00% 1.35%

UBI SICAV - Emerging Markets Equity - - - - - 1.50% 1.60% 0.65% N/a 2.00% 1.35%

UBI SICAV - Global Equity - - - - 2.00% 1.50% 1.60% 0.65% N/a 2.00% 1.35%

UBI SICAV - Euro Corporate Bond - - - - 1.20% 0.90% 0.80% 0.35% - 1.20% 0.55%

UBI SICAV - High Yield Bond - - 0.77% - 1.40% 1.25% 1.25% 0.45% - 1.40% 0.75%

UBI SICAV - Short Term EUR - - - - - - - 0.25% - 0.85% -

UBI SICAV - Euro Liquidity Plus - - - - - - - 0.20% - 0.60% -

UBI SICAV - Active Beta - - - - - - - 0.30% - 0.95% -

UBI SICAV - Global Corporate Bond - - - - 1.20% 1.20% 1.10% 0.45% - 1.20% 0.55%

UBI SICAV - Euro Corporate Short Term - - - - - 0.70% - 0.25% - 0.90% -

UBI SICAV - Euro Equity High Dividend - - - - 2.00% 1.50% 1.60% 0.65% - 2.00% 1.35%

UBI SICAV - Emerging Markets Bond - - - - 1.50% 1.25% 1.25% 0.50% - 1.50% 0.85%

UBI SICAV - Global Dynamic Allocation - - 0.90%(2) 1.00% 1.70% 1.40% 1.50% 0.60% - 1.70% 1.05%

UBI SICAV - Cedola Certa 2012-2015 (1) - - - - - - - - - 0.60%(3) -

UBI SICAV - Beta Neutral - - - - - - - 0.40% - - -

UBI SICAV - Long/Short Euro - - - - - - 1.60% 0.65% - 2.00% 1.35%

UBI SICAV - Cedola Certa 2013-2016 - - - - - - - - - 0.50%(2) -

UBI SICAV - Protezione e Crescita 2017 - - - - - - - - - 0.60%(2) -

UBI SICAV - Cedola Certa 2013-2017 - - - - - - - - - 0.60%(2) -

UBI SICAV - Focus Italia - - - - - - - - - 0.85%(3) -

UBI SICAV - Cedola Mercati Emergenti - - - - - - - - - 0.70%(2) -

UBI SICAV - Protezione Mercati Emergenti - - - - - - - - - 0.77% -

UBI SICAV - Multiasset Europe 50 - - 1.06% - - - - - - - -

UBI SICAV - Global High Yield Euro Hedged - - - - 1.30% 1.15% 1.15% 0.42% - 1.30% 0.65%

UBI SICAV - Global Multiasset 30 - - 0.66% - 1.35% 1.00% 1.00% 0.48% - 1.35% 0.70%

UBI SICAV - Italian Equity - - - - - 1.50% 1.60% 0.65% N/a 2.00% 1.35%

UBI SICAV - Income Opportunities - - 0.98% - 1.50% 1.25% 1.25% - - 1.50% 0.85%

UBI SICAV - European Equity - - - - 2.00% 1.50% 1.60% 0.65% N/a 2.00% 1.35%

UBI SICAV - Global Stars 0.82% - 0.82% 0.82% 1.40% - - - - 1.40% -

UBI SICAV - Social 4 Future 0.75% - 0.75% - 1.25% - - 0.42% - 1.25% -

UBI SICAV - Global Multiasset 15 0.72% - 0.72% - 1.30% 0.90% 0.90% 0.45% - 1.30% 0.65%

UBI SICAV - Euro Corporate Bond High Potential - - 0.67% - 1.25% - - 0.42% - 1.25% 0.60%

UBI SICAV - Obiettivo Stabilita - - 0.68% - - - - - - - -

UBI SICAV - Obiettivo Controllo - - 0.98% - - - - - - - -

UBI SICAV - Globo (Global Bond) - - 0.78% - - - - - - - -

UBI SICAV - US Core Equity - - - - - - - 0.65% - - -

UBI SICAV - Global Inflation Linked (1) - - - - - - - 0.35% - - -

UBI SICAV - Strategic Bond (1) - - 0.43% - - - - 0.30% - 0.95% 0.30%

UBI SICAV - Euro High Yield (1) - - - - - - - 0.42% - - -

UBI SICAV - Italian Mid Cap Equity (1) - - - - - - - 0.65% - - - (1) Cfr. Nota 17. (2) Calcolata sul totale delle quote circolanti * prezzo iniziale * aliquota. (3) Variazione aliquota delle commissioni di gestione e calcolo nel corso dell'anno dal 13/12/2011 al 08/12/2016 prezzo iniziale * quote * aliquota dal 09/12/2016 Totale del Patrimonio Netto * aliquota.

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Nota 3 – Gestione e Commissioni di distribuzione (segue)

Le aliquote di gestione di diverse classi varieranno alle date indicate per i seguenti comparti:

UBI SICAV - High Yield Bond Azioni di classe ‘‘A’’: - dal 09/04/2018 calcolato giornalmente sul patrimonio netto totale della classe di azione e pagabile in via postic. mensilmente: massimo 1,40% p.a..

UBI SICAV - Global Dynamic Allocation Azioni di classe ‘‘A’’: - dal 15/01/2018 calcolato giornalmente sul patrimonio netto totale della classe di azione e pagabile in via posticipata mensilmente: massimo 1,70% p.a.. Azioni di classe "B": - dal 23/07/2018 calcolato giornalmente sul patrimonio netto totale della classe di azione e pagabile in via postic. mensilmente: massimo 1,70% p.a..


Azioni di classe ‘‘R’’: - dal 09/12/2016 calcolato giornalmente sul patrimonio netto totale del comparto e pagabile in via posticipata mensilmente: massimo 0,60% p.a..

UBI SICAV - Cedola Certa 2013-2016 Azioni di classe ‘‘R’’: - dal 17/03/2017 calcolato giornalmente sul patrimonio netto totale del comparto e pagabile in via posticipata mensilmente: massimo 0,60% p.a..

UBI SICAV - Protezione e Crescita 2017 Azioni di classe ‘‘R’’: - dal 07/08/2017 calcolato giornalmente sul patrimonio netto totale del comparto e pagabile in via posticipata mensilmente: massimo 0,60% p.a..

UBI SICAV - Cedola Certa 2013-2017 Azioni di classe ‘‘R’’: - dal 19/10/2018 calcolato giornalmente sul patrimonio netto totale del comparto e pagabile in via posticipata mensilmente: massimo 0,60% p.a..

UBI SICAV - Focus Italia Azioni di classe ‘‘R’’: - dal 17/07/2016 calcolato giornalmente sul patrimonio netto totale del comparto e pagabile in via posticipata mensilmente: massimo 0,85% p.a..

UBI SICAV - Cedola Mercati Emergenti Azioni di classe ‘‘R’’: - dal 17/07/2017 dal 6th year calcolato giornalmente sul patrimonio netto totale del comparto e pagabile in via posticipata mensilmente: massimo 1.50% p.a..

UBI SICAV - Protezione Mercati Emergenti Azioni di classe ‘‘R’’: - dal 21/05/2018 calcolato giornalmente sul patrimonio netto totale del comparto e pagabile in via posticipata mensilmente: massimo 1,40% p.a..

UBI SICAV - Multiasset Europe 50 Azioni di classe ‘‘A’’: - dal 22/10/2018 calcolato giornalmente sul patrimonio netto totale della classe di azione e pagabile in via postic. mensilmente: massimo 1,70% p.a..

UBI SICAV - Global Multiasset 30 Azioni di classe ‘‘A’’: - dal 04/02/2020 calcolato giornalmente sul patrimonio netto totale della classe di azione e pagabile in via postic. mensilmente: massimo 1,35% p.a..

UBI SICAV - Income Opportunities Azioni di classe ‘‘A’’: - dal 22/07/2020 calcolato giornalmente sul patrimonio netto totale della classe di azione e pagabile in via postic. mensilmente: massimo 1,50% p.a..

UBI SICAV - Global Stars Azioni di classe ‘‘A’’: - dal 03/02/2021 calcolato giornalmente sul patrimonio netto totale della classe di azione e pagabile in via posticipata mensilmente: massimo 1.40% p.a.. Azioni di classe “1”: - dal 14/12/2021 calcolato giornalmente sul patrimonio netto totale della classe di azione e pagabile in via posticipata mensilmente: massimo 1.40% p.a.. Azioni di classe "B": - dal 02/03/2021 calcolato giornalmente sul patrimonio netto totale della classe di azione e pagabile in via postic. mensilmente: massimo 1,40% p.a..

UBI SICAV - Social 4 Future Azioni di classe ‘‘A’’: - dal 03/02/2021 calcolato giornalmente sul patrimonio netto totale della classe di azione e pagabile in via posticipata mensilmente: max 1,25% p.a.. - il 4% della commissione di gestione sarà devoluto alla Società di Gestione, alla fine di ogni anno e a titolo di donazione, in favore dell'Associazione Beneficiaria di volta in volta individuata. (1) Cfr. Nota 17. 263

UBI SICAV


Nota 3 – Gestione e Commissioni di distribuzione (segue) Azioni di classe "1": - dal 14/12/2021 calcolato giornalmente sul patrimonio netto totale della classe di azione e pagabile in via posticipata mensilmente: max 1.25% p.a.. - il 4% della commissione di gestione sarà devoluto alla Società di Gestione, alla fine di ogni anno e a titolo di donazione, in favore dell'Associazione Beneficiaria di volta in volta individuata.

UBI SICAV - Global Multiasset 15 Azioni di classe ‘‘A’’: - dal 04/05/2021 calcolato giornalmente sul patrimonio netto totale della classe di azione e pagabile in via posticipata mensilmente: massimo 1,30% p.a.. Azioni di classe “1”: - dal 14/12/2021 calcolato giornalmente sul patrimonio netto totale della classe di azione e pagabile in via postic. mensilmente: massimo 1,30% p.a..

UBI SICAV - Euro Corporate Bond High Potential Azioni di classe ‘‘A’’: - dal 04/05/2021 calcolato giornalmente sul patrimonio netto totale della classe di azione e pagabile in via postic. mensilmente: massimo 1,25% p.a..

UBI SICAV - Obiettivo Stabilità Azioni di classe ‘‘A’’: - dal 26/10/2021 calcolato giornalmente sul patrimonio netto totale della classe di azione e pagabile in via postic. mensilmente: massimo 1,20% p.a..

UBI SICAV - Obiettivo Controllo Azioni di classe ‘‘A’’: - dal 26/10/2021 calcolato giornalmente sul patrimonio netto totale della classe di azione e pagabile in via postic. mensilmente: massimo 1,50% p.a..

UBI SICAV - Globo (Global Bond) Azioni di classe ‘‘A’’: - dal 26/10/2016 to 25/10/2021 (first 5 years): massimo 0,78% p.a. calcolato giornalmente sul patrimonio netto totale della classe di azione e pagabile in via posticipata mensilmente. - Dal sesto anno (26/10/2021) fino alla data di conversione in azioni di Classe "R”: - massimo 1,30% p.a.. calcolato giornalmente sul patrimonio netto totale della classe di azione e pagabile in via posticipata mensilmente. Class ‘‘I’’ shares: - massimo 0,42% p.a.. (calcolato giornalmente sul patrimonio netto totale del comparto e pagabile mensilmente su base differita).


Azioni di classe ‘‘A’’: - dal 09/06/2017 to 08/06/2022 (primi 5 anni): massimo 0,43% p.a.. calcolato giornalmente sul patrimonio netto totale della classe di azione e pagabile in via posticipata mensilmente. - dal 09/06/2022: massimo 0.95% p.a.. calcolato giornalmente sul patrimonio netto totale della classe di azione e pagabile in via posticipata mensilmente.

La Società di Gestione addebita alle azioni della Classe "D" una commissione di distribuzione, calcolata giornalmente sul totale del patrimonio netto e pagabile mensilmente in via posticipata, come indicato negli allegati del prospetto informativo di ciascun comparto interessato (le massime aliquote delle Commissioni di distribuzione imponibili sono le seguenti):

Comparto

Massima aliquota. p.a.

UBI SICAV - Euro Equity 1,10% UBI SICAV - USA Equity 1,10% UBI SICAV - Asia Pacific Equity 1,10% UBI SICAV - Emerging Markets Equity 1,10% UBI SICAV - Global Equity 1,10% UBI SICAV - Euro Corporate Bond 0,90% UBI SICAV - High Yield Bond 1,00% UBI SICAV - Global Corporate Bond 0,90% UBI SICAV - Euro Corporate Short Term 0,70% UBI SICAV - Euro Equity High Dividend 1,10% UBI SICAV - Emerging Markets Bond 1,00% UBI SICAV - Global Dynamic Allocation 1,10% UBI SICAV - Long/Short Euro 1,10% UBI SICAV - Global High Yield Euro Hedged 1,00% UBI SICAV - Global Multiasset 30 1,00% UBI SICAV - Italian Equity 1,10% UBI SICAV - Income Opportunities 1,00% UBI SICAV - European Equity 1,10% UBI SICAV - Global Multiasset 15 1,00%

Le Commissioni di distribuzione sono riportate nel Prospetto del Patrimonio Netto alla voce "Commissioni di gestione e distribuzione passive" e nel Prospetto delle Operationi e delle Variazioni del Patrimonio Netto alla voce "Commissioni di distribuzione". (1) Cfr. Nota 17.

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Nota 4 - Commissioni di Performance

Per alcuni comparti della Classe di azioni ‘‘D’’, Classe di azioni ‘‘F’’, Classe di azioni ‘‘I’’, Classe di azioni ‘‘R’’ e Classe di azioni ‘‘U’’, come specificato nell’allegato al prospetto informativo di ciascun comparto, anche alla Società di Gestione viene riconosciuta una commissione di performance quando la performance del comparto è maggiore della performance del suo benchmark in un periodo di 90 giorni, indipendentemente dalla performance assoluta del settore.

Le commissioni di performance sono: - calcolate e maturate giornalmente solo quando il rendimento del comparto supera il rendimento del benchmark; - pari al 20% della sovraperformance del comparto rispetto al proprio benchmark durante gli ultimi 90 giorni; - dovute alla fine di ciascun trimestre.

Le commissioni di performance vengono determinate giornalmente. Se la sovraperformance del relativo comparto è maggiore di zero, la commissione di performance sarà pari a:

Sovraperformance x20% x Valore del Patrimonio Netto 90

Per le azioni di Classe "M", come specificato nell’allegato di ciascun comparto, la Società di Gestione riceverà una Commissione di Performance pari al 25% della sovraperformance raggiunta nell'anno solare (o, nell' anno in cui vengono emesse le azioni di Classe "M", nel periodo compreso tra il primo valore patrimoniale netto riferito alle azioni di Classe "M" e la fine dell'anno solare), calcolata sul minore tra il valore patrimoniale netto totale più recente della Classe ‘‘M’’ nel giorno del calcolo, e il valore patrimoniale netto totale medio delle azioni della Classe "M" durante il periodo di riferimento della performance (anno solare o periodo compreso tra il primo valore patrimoniale netto riferito alle azioni di Classe "M" e la fine dell' anno solare, nel caso di lancio intermedio delle azioni di Classe "M"). Per sovraperformance si intende la differenza positiva tra la variazione percentuale del valore delle azioni della Classe "M" del comparto, considerando il valore totale della classe azionaria al netto di tutti i costi, ad eccezione della commissione di performance stessa e della variazione percentuale del valore del benchmark riferito allo stesso periodo. La commissione di performance si applica anche in caso di diminuzione del valore delle azioni di Classe "M" dei comparti, se tale diminuzione è inferiore alla diminuzione registrata nello stesso periodo dal benchmark adottato nel calcolo della commissione di performance. Gli indici che compongono il benchmark utilizzato per il calcolo della commissione di performance per le azioni di Classe “M” saranno calcolati ipotizzando il reinvestimento dei dividendi (indici “total return'') e, se originariamente espressi in una valuta diversa, saranno considerati convertiti in Euro (la valuta di denominazione per le azioni di Classe ‘‘M’’). La commissione di performance è calcolata su base giornaliera, mediante un accantonamento che si riferisce alla sovraperformance raggiunta rispetto al valore delle azioni di Classe "M" e relativa all'ultimo giorno dell'anno solare precedente. Al fine di calcolare il valore patrimoniale netto totale delle azioni di Classe "M", ogni giorno l'allocazione del giorno precedente sarà accreditata alle azioni di Classe "M" e verrà addebitata l'allocazione riferita al giorno di calcolo. La commissione sarà dedotta dalle attività liquide delle azioni di Classe "M" il terzo giorno lavorativo successivo alla chiusura dell' anno solare.

Per i nuovi comparti, laddove sia applicabile, la determinazione e accumulazione della commissione di performance non potrà avvenire prima che siano trascorsi novanta giorni dal lancio.

Per alcuni comparti e classi di azioni, per i quali non esiste alcun benchmark a causa del loro specifico stile di investimento, come specificato nell’allegato di ciascun comparto, la Società di Gestione riceve inoltre una commissione di performance pari al 10% dell' aumento del valore netto per azione del comparto.

La commissione di performance è: - calcolata e maturata giornalmente solo quando il rendimento del comparto è positivo and il valore netto per azione del comparto supera ogni valore netto per azione precedentemente registrato (High Water Mark); - pari al 10% del rendimento positive giornaliero; - dovuta alla fine di ciascun trimestre.

La metodologia High Water Mark si applica in modo tale che, se il valore netto per azione del comparto diminuisce, non sarà applicata alcuna commissione di performance nei giorni successivi nella misura in cui l'eventuale successivo aumento del valore netto per azione si limita a recuperare le precedenti diminuzioni del valore netto per azione, facendo in modo che le commissioni di performance siano dovute solo dopo aver conseguito un risultato assoluto positivo per quanto riguarda comparto.

Per alcuni comparti e classi di azioni, come specificato nell’allegato di ciascun comparto, la Società di Gestione riceve anche una commissione di performance pari al 25% della performance in eccesso su un periodo di 90 giorni variabili (come indicato nella parte I Oneri, spese e imposte).

Ogni volta che la commissione di performance viene maturata, il valore netto per azione di quel giorno è fissato come nuovo High Water Mark.

La commissione di performance corrisposta non potrà essere rimborsata agli azionisti, indipendentemente da eventuali successive sottoperformance.

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UBI SICAV


Nota 4 - Commissioni di Performance (segue)

Per il periodo chiuso al 30 giugno 2017, l’aliquota delle commissioni di performance sopra riportata è stata applicata ai rispettivi comparti utilizzando i benchmark descritti nella tabella seguente:

Comparti e classi di azioni Benchmark

95% EURO STOXX Index UBI SICAV - Euro Equity 5% The BofA Merrill Lynch Euro Treasury Bill Index

95% Standard & Poors 500 UBI SICAV - USA Equity 5% BofA Merrill Lynch Euro Treasury Bill Index

95% MSCI AC Pacific Index UBI SICAV - Asia Pacific Equity 5% BofA Merrill Lynch Euro Treasury Bill Index

95% MSCI Emerging Markets Index UBI SICAV - Emerging Markets Equity 5% BofA Merrill Lynch Euro Treasury Bill Index

95% MSCI World Index UBI SICAV - Global Equity 5% BofA Merrill Lynch Euro Treasury Bill Index

UBI SICAV - Euro Corporate Bond 100% BofA Merrill Lynch Euro Large Cap Corporate Index

UBI SICAV - High Yield Bond 100% Barclays Capital Global High-Yield - Hedged Index

UBI SICAV - Active Beta - (1)

- 100% Citigroup World Broad Investment Grade Corporate Euro UBI SICAV - Global Corporate Bond Hedged Index

95% MSCI EMU Value Index UBI SICAV - Euro Equity High Dividend 5% BofA Merrill Lynch Euro Treasury Bill Index

UBI SICAV - Emerging Markets Bond 100% JPM GBI - EM Global Diversified Index

10% The BofA Merrill Lynch Euro Treasury Bill Index 20% The BofA Merrill Lynch Global Government excluding Euro Index (Euro Hedged) 20% The BofA Merrill Lynch Euro Large Cap Index 20% MSCI AC World Index ex EMU

UBI SICAV - Global Dynamic Allocation 30% EURO STOXX Index

UBI SICAV - Beta Neutral - (1)

UBI SICAV - Long/Short Euro - (1)

20% The BofA Merrill Lynch 1-3 Year Italy Government Index 30% The BofA Merrill Lynch Euro large Cap Index

UBI SICAV - Multiasset Europe 50 50% STOXX Europe 600 Index

100% Barclays Global High Yield ba/b 1-5 year 1% issuer UBI SICAV - Global High Yield Euro Hedged constrained index (euro hedged)

15,00% The BofA Merrill Lynch Euro Treasury Bill Index 15,00% The BofA Merrill Lynch 1-3 Year Euro Government Index 5,00% The BofA Merrill Lynch Euro Government Index 5,00% The BofA Merrill Lynch Global Government Excluding Euro Index 10,00% The BofA Merrill Lynch Euro Large Cap Corporate Index 10,00% The BofA Merrill Lynch Global Large Cap Corporate Index 10,00% Barclays Capital Global High-Yield Index 15,00% STOXX Europe 600 EUR 10,00% S&P 500 2,00% MSCI AC Pacific

UBI SICAV - Global Multiasset 30 3,00% MSCI Emerging Markets

95% Comit Performance R Index UBI SICAV - Italian Equity 5% The BofA Merrill Lynch Euro Treasury Bill Index

UBI SICAV - Income Opportunities - (1)

95% STOXX Europe 600 Index UBI SICAV - European Equity 5% The BofA Merrill Lynch Euro Treasury Bill Index

10% The BofA Merrill Lynch Euro Treasury Bill Index (EUR) 10% The BofA Merrill Lynch 1-3 Year Euro Government Index 15% The BofA Merrill Lynch Global Government Bond (EUR) 30% The BofA ML Euro Large Cap Index 15% EURO STOXX Index

UBI SICAV - Global Stars 20% MSCI ACWI (previously MSCI AC World Index)

(1) A causa della sua politica d'investimento, il comparto non ha alcun benchmark di riferimento.

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UBI SICAV



Comparto e per tutte le classi di azioni Benchmark

25,00% The BofA Merrill Lynch Euro Treasury Bill Index 20,00% The BofA Merrill Lynch 1-3 Year Euro Government Index 10,00% The BofA Merrill Lynch Euro Government Index 5,00% The BofA Merrill Lynch Global Government Excluding Euro Index 10,00% The BofA Merrill Lynch Euro Large Cap Corporate Index 10,00% The BofA Merrill Lynch Global Large Cap Corporate Index 5,00% Barclays Capital Global High-Yield Index 8,00% STOXX Europe 600 EUR 3,00% S&P 500 2,00% MSCI AC Pacific

UBI SICAV - Global Multiasset 15 2,00% MSCI Emerging Markets

50% The BofA Merrill Lynch BB Euro High Yield Index UBI SICAV - Euro Corporate Bond High Potential 50% The BofA Merrill Lynch Euro Corporate Large Cap BBB Index

30% The BofA ML Euro Treasury Bill Index 20% The BofA ML Global Government excluding Euro Index (EuroHedged) 5% The BofA ML Global Government excluding Euro Index 35% The BofA ML Euro Large Cap Index 5% Euro Stoxx Index

UBI SICAV - Obiettivo Stabilità 5% MSCI AC World Index ex EMU

20% The BofA Merrill Lynch Euro Treasury Bill Index 20% The BofA Merrill Lynch Global Government excluding Euro Index 35% The BofA Merrill Lynch Euro Large Cap Index 15% EURO STOXX Index

UBI SICAV - Obiettivo Controllo 10% MSCI AC World Index ex EMU

UBI SICAV - Globo (Global Bond) 100% Barclays Global Aggregate Index

95% S&P 500 TR EUR UBI SICAV - US Core Equity 5% The Bofa Merrill Lynch Euro Treasury Bill Index.

60% The BofA Merrill Lynch 1-10 Year Euro Inflation Linked Government Index 30% The BofA Merrill Lynch 1-10 Year US Inflation Linked Treasury Index 10% The BofA Merrill Lynch 1-10 Year UK Inflation Linked Gilt

UBI SICAV - Global Inflation Linked EUR (1) Index

UBI SICAV - Euro High Yield (1) 100% The BofA Merrill Lynch BB-B Euro HighYield Index

95% FTSE Italia Mid Cap Index UBI SICAV - Italian Mid Cap Equity (1) 5% The BofA Merrill Lynch Euro Treasury

(1) Cfr. Nota 17.

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UBI SICAV



Le seguenti commissioni di performance passive erano presenti al 30 giugno 2017:

UBI SICAV - Euro Equity EUR 26,417.90

UBI SICAV - Asia Pacific Equity EUR 695,530.62

UBI SICAV - Emerging Markets Equity EUR 1,738,476.28

UBI SICAV - Global Equity EUR 1,187,355.63

UBI SICAV - Euro Corporate Bond EUR 13,309.02

UBI SICAV - High Yield Bond EUR 102,127.55

UBI SICAV - Active Beta EUR 33,950.47

UBI SICAV - Global Corporate Bond EUR 57.92

UBI SICAV - Euro Equity High Dividend EUR 215,388.14

UBI SICAV - Emerging Markets Bond EUR 23,842.97

UBI SICAV - Global Dynamic Allocation EUR 1,031,263.91

UBI SICAV - Multiasset Europe 50 EUR 329,580.10

UBI SICAV - Global High Yield Euro Hedged EUR 7,414.27

UBI SICAV - Global Multiasset 30 EUR 273,374.40

UBI SICAV - Italian Equity EUR 23,710.95

UBI SICAV - Income Opportunities EUR 2,300.36

UBI SICAV - European Equity EUR 27,513.62

UBI SICAV - Global Stars EUR 903,462.45

UBI SICAV - Global Multiasset 15 EUR 67,742.27

UBI SICAV - Obiettivo Controllo EUR 5,164.70

UBI SICAV - Globo (Global Bond) EUR 602,583.28

UBI SICAV - Strategic Bond (1) EUR 3,231.83 (1) Cfr. Nota 17.

268

UBI SICAV


Nota 5 - Servizi Amministrativi Centrali

In conformità all'art. 110 della Legge, la Società di Gestione ha nominato a proprie spese e sotto il proprio controllo e responsabilità RBC Investor Services Bank quale conservatore dei registri, agente di trasferimento e agente amministrativo della Società ai sensi di un Contratto di Agenzia di Amministrazione datato 15 dicembre 2008, stipulato per una durata indeterminata e che può essere risolto con preavviso di 90 giorni. In base a tale Contratto di Agenzia di Amministrazione, RBC Investor Services Bank sarà responsabile dell'amministrazione generale della Società richiesta dalla legge lussemburghese e del trattamento dell'emissione e rimborso di azioni, del calcolo del valore patrimoniale netto delle azioni della Società e della tenuta dei documenti contabili per la Società.

Inoltre, la Società di Gestione ha stipulato specifici accordi contrattuali con RBC Investors Services Bank S. A., in vigore dal 15 dicembre 2008, per lo svolgimento servizi di monitoraggio della conformità degli investimenti. RBC Investors Investors Services Bank S. A. si è impegnata a fornire alla Società di Gestione una regolare informativa in merito ai controlli sugli investimenti così effettuati.

In considerazione dei servizi amministrativi forniti alla SICAV, la Società di Gestione percepirà un compenso annuo fino allo 0,40% del patrimonio netto medio, mentre le commissioni di transazione per la gestione degli ordini di sottoscrizione e di rimborso non sono incluse in questo massimale. Tale commissione di servizio coprirà le funzioni di conservatore del registro e agente di trasferimento, agente amministrativo, monitoraggio della conformità degli investimenti e tutti gli altri costi sostenuti dalla SICAV, con le eccezioni specificate nel prospetto informativo.

Nota 6 - Tassa d’abbonamento

In base alle leggi e regolamenti in vigore in Lussemburgo, la SICAV è soggetta ad una tassa d'abbonamento annuale dello 0,05%. Questa tassa viene ridotta allo 0,01%, sul totale del patrimonio netto attribuito a tali classi di azioni riservate agli investitori istituzionali, come previsto dall’Articolo 174 della Legge. Questa tassa è dovuta e calcolata trimestralmente sul patrimonio netto totale di ciascuna classe di azione rilevato all’ultimo giorno di ogni trimestre. La tassa d’abbonamento non è applicabile sull’ammontare degli investimenti della SICAV costituiti da quote di altri organismi d’investimento collettivo lussemburghesi già soggetti alla tassa d’abbonamento.

Nota 7 - Commissioni di Banca Depositaria, Agente di Trasferimento e Agente Amministrativo

La SICAV paga alla Banca Depositaria una commissione quale remunerazione, oltre gli oneri di transazione, in conformità con i termini della convenzione di banca depositaria. Tale remunerazione e le spese sono pagate alla Banca Depositaria mensilmente in via posticipata dai relativi comparti. La remunerazione concordata per la fornitura dei servizi di Banca Depositaria sarà al massimo dello 0,03% annuo, calcolato sull’attivo netto medio. Gli oneri di transazione dovuti alla Banca Depositaria e le spese di deposito e intervento di qualsiasi banca corrispondente non sono inclusi nel tetto massimo.

Le attività di un determinato comparto sono responsabili solo per i debiti, le passività e gli obblighi relativi a tale comparto. Ogni comparto è trattato come un' entità distinta nei rapporti tra gli azionisti.

Nota 8 – Contratti Futures

Al 30 giugno 2017, la SICAV ha stipulato i seguenti contratti future in essere:


Descrizione Scadenza

Numero di contratti Divisa Impegni

acquistati/(venduti)

Utile/(perdita) non realizz. (in EUR)

10Y BTP ITALIAN BOND Settembre 2017 (43) EUR (5,811,020.00) (49,880.00) EURO BUND Settembre 2017 (32) EUR (5,179,840.00) 95,520.00 EURO OAT FUTURES Settembre 2017 (27) EUR (4,008,960.00) 26,460.00 EURO-BUXL-FUTURES Settembre 2017 (47) EUR (7,685,440.00) 164,782.02 TREASURY BONDS USA Settembre 2017 (24) USD (3,688,500.00) 18,409.75

255,291.77

269

UBI SICAV


Nota 8 – Contratti Futures (segue)





Utile non realizz. (in EUR)

S&P / ASX 200 INDEX Settembre 2017 20 AUD 2,824,500.00 10,757.03 TOPIX INDEX (TOKYO) Settembre 2017 15 JPY 241,725,000.00 9,193.24

19,950.27






MSEMI - MSCI EMER MKTS INDEX Settembre 2017 175 USD 8,822,625.00 41,421.93

41,421.93






S&P 500 EMINI INDEX Settembre 2017 35 USD 4,236,750.00 (11,352.68) (11,352.68)






EURO BUND Settembre 2017 (80) EUR (12,949,600.00) 206,400.00 206,400.00






10Y TREASURY NOTE USA Settembre 2017 384 USD 48,204,000.00 (134,689.38) 2Y TREASURY NOTE USA Settembre 2017 148 USD 31,984,187.66 (41,545.00)

270

UBI SICAV


Nota 8 - Contratti Futures (segue)

UBI SICAV - High Yield Bond (segue)


Numero di contratti Divisa


Utile/(perdita) non Impegni realizz. (in EUR)

30Y TREASURY NOTE USA Settembre 2017 78 USD 12,938,250.00 218,184.29 EURO BOBL Settembre 2017 (115) EUR (15,145,500.00) 150,650.00 EURO BUND Settembre 2017 (97) EUR (15,701,390.00) 235,340.00 EURO SCHATZ Settembre 2017 6 EUR 671,100.00 (1,260.00)

LONG GILT STERLING FUTURES Settembre 2017 (121) GBP (15,193,970.00) 291,153.33

TREASURY BONDS USA Settembre 2017 44 USD 6,762,250.00 16,882.44 734,715.68





Perdita non realizz. (in EUR)

10Y BTP ITALIAN BOND Settembre 2017 (25) EUR (3,378,500.00) (35,750.00) SHORT EURO BTP IT Settembre 2017 (80) EUR (9,014,400.00) (19,200.00)

(54,950.00)






10Y BTP ITALIAN BOND Settembre 2017 (32) EUR (4,324,480.00) (45,760.00) SHORT EURO BTP IT Settembre 2017 (180) EUR (20,282,400.00) (43,200.00)

(88,960.00)






10Y TREASURY NOTE USA Settembre 2017 24 USD 3,012,750.00 (20,512.35) 5Y TREASURY NOTE USA Settembre 2017 (25) USD (2,945,898.45) 5,821.54

DJ EUROPE STOXX 600 INDUST G&S

Settembre 2017 11 EUR 278,960.00 (6,470.93)

271

UBI SICAV



UBI SICAV - Active Beta (segue)

Descrizione

Numero di

Scadenza contratti acquistati/(venduti)

Divisa Impegni


DJ EUROPE STOXX 600 INSUR.IND Settembre 2017 27 EUR 369,765.00 (4,050.00)

EURDJ STOXX 600 BANKS PRICE Settembre 2017 36 EUR 325,980.00 (540.00)

DJ STOXX 600 BASIC RES. PRICE Settembre 2017 7 EUR 133,770.00 (1,395.00)

DJ STOXX 600 CHEMICALS EUR IND Settembre 2017 2 EUR 89,970.00 (4,660.00)

DJ STOXX 600 FOOD AND BEVERAGES Settembre 2017 12 EUR 391,080.00 (3,660.00)

DJ STOXX 600 HEALTH CARE Settembre 2017 8 EUR 303,960.00 (7,440.00)

DJ STOXX 600 RETAIL Settembre 2017 4 EUR 60,600.00 (3,140.00)

DJ STOXX 600 TECHNOLOGY

Settembre 2017 15

EUR 309,300.00

(11,025.00)

DJ STOXX 600 TLCM Settembre 2017 33 EUR 474,870.00 (23,135.00) DJ STOXX 600 UTILITIES Settembre 2017 17 EUR 245,140.00 (12,101.74)

DJS 600 OIL & GAS STOXX 600 Settembre 2017 13 EUR 185,185.00 (7,615.75)

DOW JONES 600- CONS.& MAT. Settembre 2017 2 EUR 45,330.00 (1,630.00)

DOW JONES STOXX 600 AUTO P.PR. Settembre 2017 4 EUR 107,220.00 (4,620.00)

DOW JONES STOXX 600 MEDIA Settembre 2017 28 EUR 391,300.00 (10,696.97)

EURO BUND Settembre 2017 7 EUR 1,133,090.00 (22,897.99) EURO STOXX 50 PR Settembre 2017 4 EUR 137,240.00 (4,680.00) NIKKEI 225 INDICES D Settembre 2017 3 JPY 30,097,500.00 (760.58) S&P 500 EMINI INDEX Settembre 2017 8 USD 968,400.00 (1,893.57)

SMI INDEX/OHNE DIVIDENDENKORR. Settembre 2017 (6) CHF (533,160.00) 402.78

SXTP - DJS TRV&LSR E PR Settembre 2017 6 EUR 77,040.00 (1,680.00) UKX FTSE 100 INDEX Settembre 2017 (11) GBP (796,675.00) 25,378.57

(123,001.99)

272

UBI SICAV




Descrizione

Numero di Scadenza contratti


Divisa Impegni


10Y TREASURY NOTE USA Settembre 2017 (12) USD (1,506,375.00) 10,903.40 2Y TREASURY NOTE USA Settembre 2017 24 USD 5,186,625.02 (7,109.09) 30Y TREASURY NOTE USA Settembre 2017 (45) USD (7,464,375.00) (71,536.40) 5Y TREASURY NOTE USA Settembre 2017 (46) USD (5,420,453.15) 15,649.65 EURO BOBL Settembre 2017 (9) EUR (1,185,300.00) 10,950.00 EURO BUND Settembre 2017 6 EUR 971,220.00 (9,350.00) EURO SCHATZ Settembre 2017 30 EUR 3,355,500.00 (4,100.00)

LONG GILT STERLING FUTURES Settembre 2017 5 GBP 627,850.00 (5,909.14)

TREASURY BONDS USA Settembre 2017 47 USD 7,223,312.50 40,949.36 (19,552.22)






EURO BOBL Settembre 2017 (300) EUR (39,510,000.00) 327,000.00 EURO SCHATZ Settembre 2017 (500) EUR (55,925,000.00) 142,500.00

469,500.00






10Y BTP ITALIAN BOND Settembre 2017 (185) EUR (25,000,900.00) (310,800.00) 10Y TREASURY NOTE USA Settembre 2017 (150) USD (18,829,687.50) 29,792.23 DAX-INDEX Settembre 2017 52 EUR 16,016,000.00 (336,700.00) EURO BUND Settembre 2017 (467) EUR (75,593,290.00) 969,390.00 EURO STOXX 50 PR Settembre 2017 2,200 EUR 75,482,000.00 (2,662,000.00) FTSE MIB INDEX Settembre 2017 51 EUR 5,227,245.00 (123,930.00)

273

UBI SICAV



UBI SICAV - Global Dynamic Allocation (segue)




Utile(Perdita) non Impegni realizz. (in EUR)

S&P 500 EMINI INDEX Settembre 2017 (45) USD (5,447,250.00) (5,424.30) TOPIX INDEX (TOKYO) Settembre 2017 300 JPY 4,834,500,000.00 128,713.31 UKX FTSE 100 INDEX Settembre 2017 (204) GBP (14,774,700.00) 441,307.02

(1,869,651.74)






EURO STOXX 50 PR Settembre 2017 (934) EUR (32,045,540.00) 1,083,440.00 1,083,440.00






10Y BTP ITALIAN BOND Settembre 2017 (62) EUR (8,378,680.00) (71,920.00) EURO BUND Settembre 2017 99 EUR 16,025,130.00 (253,440.00) EURO OAT FUTURES Settembre 2017 (30) EUR (4,454,400.00) 29,400.00 EURO-BUXL-FUTURES Settembre 2017 (43) EUR (7,031,360.00) 151,641.01 TREASURY BONDS USA Settembre 2017 (26) USD (3,995,875.00) 19,943.89

(124,375.10)






10Y TREASURY NOTE USA Settembre 2017 10 USD 1,255,312.50 (6,163.98) 2Y TREASURY NOTE USA Settembre 2017 47 USD 10,157,140.68 (13,683.95) 30Y TREASURY NOTE USA Settembre 2017 1 USD 165,875.00 2,191.64 EURO BOBL Settembre 2017 264 EUR 34,768,800.00 (232,290.00)

274

UBI SICAV



UBI SICAV - Global High Yield Euro Hedged (segue)




Utile/(Perdita) non Impegni realizz. (in EUR)

EURO BUND Settembre 2017 8 EUR 1,294,960.00 (19,920.00) EURO SCHATZ Settembre 2017 370 EUR 41,384,500.00 (66,990.00)

LONG GILT STERLING FUTURES Settembre 2017 (40) GBP (5,022,800.00) 101,332.11

TREASURY BONDS USA Settembre 2017 2 USD 307,375.00 924.59 (234,599.59)






10Y TREASURY NOTE USA Settembre 2017 (200) USD (25,106,250.00) 39,722.98 EURO BUND Settembre 2017 (570) EUR (92,265,900.00) 1,202,700.00 EURO STOXX 50 PR Settembre 2017 800 EUR 27,448,000.00 (968,000.00)

274,422.98


Descrizione


acquistati/(venduti) Divisa Impegni


10Y TREASURY NOTE USA Settembre 2017 1,162 USD 145,867,312.50 (999,146.63)

DJ EUROPE STOXX 600 INDUST G&S Settembre 2017 64 EUR 1,623,040.00 (37,649.07)

DJ EUROPE STOXX 600 INSUR.IND Settembre 2017 189 EUR 2,588,355.00 (28,350.00)

DJ STOXX 600 BANKS PRICE EUR Settembre 2017 252 EUR 2,281,860.00 4,900.00

DJ STOXX 600 BASIC RES. PRICE Settembre 2017 28 EUR 535,080.00 (10,080.00)

DJ STOXX 600 CHEMICALS EUR IND Settembre 2017 7 EUR 314,895.00 (13,580.00)

DJ STOXX 600 FOOD AND BEVERAGES Settembre 2017 71 EUR 2,313,890.00 (21,655.00)

DJ STOXX 600 HEALTH CARE Settembre 2017 56 EUR 2,127,720.00 (48,160.00)

DJ STOXX 600 RETAIL Settembre 2017 13 EUR 196,950.00 (10,205.00)

DJ STOXX 600 TECHNOLOGY Settembre 2017 120 EUR 2,474,400.00 (88,200.00)

DJ STOXX 600 TLCM Settembre 2017 224 EUR 3,223,360.00 (160,160.00)

275

UBI SICAV



UBI SICAV - Income Opportunities (segue)

Descrizione

Numero di


Divisa Impegni


DJ STOXX 600 UTILITIES Settembre 2017 119 EUR 1,715,980.00 (81,203.26)

600DJS 600 OIL & GAS STOXX Settembre 2017 91 EUR 1,296,295.00 (35,204.25)

DOW JONES 600- CONS.& MAT. Settembre 2017 14 EUR 317,310.00 (11,410.00)

DOW JONES STOXX 600 AUTO P.PR. Settembre 2017 13 EUR 348,465.00 (15,015.00)

DOW JONES STOXX 600 MEDIA Settembre 2017 196 EUR 2,739,100.00 (76,497.94)

EURO BUND Settembre 2017 356 EUR 57,625,720.00 (1,164,526.55) EURO STOXX 50 PR Settembre 2017 (185) EUR (6,347,350.00) 205,350.00 NIKKEI 225 INDICES D Settembre 2017 21 JPY 210,682,500.00 (5,324.05) S&P 500 EMINI INDEX Settembre 2017 428 USD 51,809,400.00 (214,791.36)

SMI INDEX/OHNE DIVIDENDENKORR.

Settembre 2017 (42)

CHF (3,732,120.00)

2,819.49

SXTP - DJS TRV&LSR E PR Settembre 2017 27 EUR 346,680.00 (7,560.00) TOPIX INDEX (TOKYO) Settembre 2017 136 JPY 2,191,640,000.00 62,593.67 UKX FTSE 100 INDEX Settembre 2017 (229) GBP (16,585,325.00) 522,765.51

(2,230,289.44)






10Y TREASURY NOTE USA Settembre 2017 58 USD 7,280,812.50 (23,203.95) EURO BUND Settembre 2017 20 EUR 3,237,400.00 (51,360.00) EURO STOXX 50 PR Settembre 2017 389 EUR 13,346,590.00 (454,230.00) NIKKEI 225 INDICES D Settembre 2017 67 JPY 672,177,500.00 (16,986.26) S&P 500 EMINI INDEX Settembre 2017 50 USD 6,052,500.00 (11,834.84) UKX FTSE 100 INDEX Settembre 2017 128 GBP 9,270,400.00 (292,929.49)

(850,544.54)

276

UBI SICAV








EURO BUND Settembre 2017 (90) EUR (14,568,300.00) 232,200.00 232,200.00






10Y TREASURY NOTE USA Settembre 2017 (400) USD (50,212,500.00) 79,446.66 EURO BUND Settembre 2017 (520) EUR (84,172,400.00) 1,073,700.00 TOPIX INDEX (TOKYO) Settembre 2017 80 JPY 1,289,200,000.00 9,751.01 UKX FTSE 100 INDEX Settembre 2017 50 GBP 3,621,250.00 (74,006.60)

1,088,891.07


Descrizione




10Y BTP ITALIAN BOND Settembre 2017 (136) EUR (18,379,040.00) (51,884.40) 10Y TREASURY NOTE USA Settembre 2017 (214) USD (26,863,687.50) 42,503.96 30Y TREASURY NOTE USA Settembre 2017 27 USD 4,478,625.00 70,653.98 5Y TREASURY NOTE USA Settembre 2017 176 USD 20,739,125.09 (42,188.93) EURO BOBL Settembre 2017 (83) EUR (10,931,100.00) 106,240.00 EURO BUND Settembre 2017 (229) EUR (37,068,230.00) 675,656.76 EURO OAT FUTURES Settembre 2017 (47) EUR (6,978,560.00) 46,060.00 EURO SCHATZ Settembre 2017 57 EUR 6,375,450.00 (16,530.00) EURO-BUXL-FUTURES Settembre 2017 23 EUR 3,760,960.00 (162,479.36)

JAPANESE GOV. BDS FUTURE 10Y

Settembre 2017 14

JPY 2,101,540,000.00

(34,947.61)

LONG GILT STERLING FUTURES Settembre 2017 25 GBP 3,139,250.00 (60,913.12)

SHORT EURO BTP IT Settembre 2017 (893) EUR (100,623,240.00) (267,900.00)

277

UBI SICAV



UBI SICAV - Obiettivo Stabilità (segue)




Utile/(perdita) non Impegni realizz. (in EUR)

TREASURY BONDS USA Settembre 2017 56 USD 8,606,500.00 (59,131.63) 245,139.65


Descrizione




10Y BTP ITALIAN BOND Settembre 2017 (81) EUR (10,946,340.00) 5,196.48 10Y TREASURY NOTE USA Settembre 2017 (106) USD (13,306,312.50) 60,249.46 30Y TREASURY NOTE USA Settembre 2017 18 USD 2,985,750.00 34,715.52 5Y TREASURY NOTE USA Settembre 2017 113 USD 13,315,460.99 (29,278.86) EURO BOBL Settembre 2017 (66) EUR (8,692,200.00) 91,620.00 EURO BUND Settembre 2017 (173) EUR (28,003,510.00) 512,487.72 EURO OAT FUTURES Settembre 2017 (38) EUR (5,642,240.00) 47,860.00 EURO SCHATZ Settembre 2017 46 EUR 5,145,100.00 (15,140.00) EURO-BUXL-FUTURES Settembre 2017 11 EUR 1,798,720.00 (77,707.52)

JAPANESE GOV. BDS FUTURE 10Y

Settembre 2017 9

JPY 1,350,990,000.00

(24,650.55)


SHORT EURO BTP IT Settembre 2017 (713) EUR (80,340,840.00) (116,250.00) TREASURY BONDS USA Settembre 2017 30 USD 4,610,625.00 (29,249.75)

417,896.46






10 YEAR TREAS.BOND AUSTRAL.6% Settembre 2017 40 AUD 5,170,390.00 (53,224.01)

10 YEARS CANADIAN BONDS Settembre 2017 32 CAD 4,497,600.00 (69,231.29) 10Y TREASURY NOTE USA Settembre 2017 43 USD 5,397,843.75 (28,463.89) 2Y TREASURY NOTE USA Settembre 2017 (440) USD (95,088,125.44) 123,676.35

278

UBI SICAV



UBI SICAV - Globo (Global Bond) (segue)

Descrizione

Numero di


Divisa Impegni


30D FED FUND RATE November 2017 (35) USD (14,408,027.55) 53,060.12

30Y TREASURY NOTE USA Settembre 2017 103 USD 17,085,125.00 253,880.58

5Y TREASURY NOTE USA Settembre 2017 365 USD 43,010,117.37 (82,014.96)

EURO BOBL Settembre 2017 6 EUR 790,200.00 (7,850.00)

EURO BUND Settembre 2017 (98) EUR (15,863,260.00) 235,590.00

EURO OAT FUTURES Settembre 2017 83 EUR 12,323,840.00 15,650.00

EURO SCHATZ Settembre 2017 37 EUR 4,138,450.00 (9,615.00)

EURO-BUXL-FUTURES Settembre 2017 5 EUR 817,600.00 (1,100.00)

JAPANESE GOV. BDS FUTURE 10Y Settembre 2017 7 JPY 1,050,770,000.00 (20,204.09)

JP 10Y MINI GV BDS Settembre 2017 8 JPY 120,184,000.00 (1,622.57)


TREASURY BONDS USA Settembre 2017 2 USD 307,375.00 2,027.26

385,396.26






EURO-BUXL-FUTURES Settembre 2017 (7) EUR (1,144,640.00) 19,560.00 TREASURY BONDS USA Settembre 2017 4 USD 614,750.00 (12,054.00)

7,506.00 (1) Cfr. Nota 17.

279

UBI SICAV








10Y BTP ITALIAN BOND Settembre 2017 (140) EUR (18,919,600.00) 98,800.00 10Y TREASURY NOTE USA Settembre 2017 (200) USD (25,106,250.00) 117,800.48 EURO BOBL Settembre 2017 (120) EUR (15,804,000.00) 132,000.00 EURO BUND Settembre 2017 (95) EUR (15,377,650.00) 236,500.00 EURO-BUXL-FUTURES Settembre 2017 (25) EUR (4,088,000.00) 106,000.00 TREASURY BONDS USA Settembre 2017 (50) USD (7,684,375.00) 98,322.30

789,422.78

Note 9 - Prestito Titoli

La SICAV può effettuare operazioni di prestito titoli a condizione che rispettino le regole applicabili agli organismi di investimento collettivo quando utilizzano determinate tecniche e strumenti relativi a valori mobiliari e strumenti del mercato monetario, come di volta in volta modificate. La SICAV può prestare o prendere in prestito titoli solo attraverso un sistema standardizzato organizzato da un istituto di compensazione riconosciuto o attraverso un istituto finanziario di primo livello specializzato in questo tipo di operazioni, soggetto a norme di vigilanza prudenziale considerate dalla CSSF equivalenti a quelle stabilite dal diritto comunitario e deve essere valutato e approvato dalla SICAV. In tutti i casi, la controparte dell'accordo di prestito titoli (ossia il mutuatario) deve essere soggetta a norme di vigilanza prudenziale considerate dalla Commission de Surveillance du Secteur Financier equivalenti a quelle stabilite dal diritto comunitario. Nel caso in cui il suddetto istituto finanziario agisca per proprio conto, deve essere considerato quale controparte nell'accordo di prestito titoli.

Ciascun comparto deve garantire che il volume delle operazioni di prestito titoli sia mantenuto ad un livello adeguato o che abbia il diritto di chiedere la restituzione dei titoli prestati, in modo da consentirgli di adempiere in ogni momento ai propri obblighi di rimborso e che tali operazioni non mettano a repentaglio la gestione del patrimonio del comparto conformemente alla propria politica d'investimento. (1) Cfr. Nota 17.

280

UBI SICAV


Note 9 - Securities Lending (segue)

La SICAV ha sottoscritto un programma di prestito titoli con RBC Investor Services Trust e RBC Investor Services Bank S. A. (il Depositario). Al 30 giugno 2017, il valore di mercato dei titoli dati in prestito e le garanzie ricevute erano le seguenti:

Divisa Valore di Mercato UBI SICAV - Euro Fixed Income EUR 25,453,229.36 UBI SICAV - Euro Equity EUR 92,302,922.58 UBI SICAV - USA Equity EUR 66,742,712.16 UBI SICAV - Asia Pacific Equity EUR 22,133,131.92 UBI SICAV - Emerging Markets Equity EUR 31,132,592.52 UBI SICAV - Global Equity EUR 48,192,634.51 UBI SICAV - Euro Corporate Bond EUR 41,485,365.37 UBI SICAV - High Yield Bond EUR 50,626,129.10 UBI SICAV - Short Term EUR EUR 460,754.15 UBI SICAV - Euro Liquidity Plus EUR 829,150.76 UBI SICAV - Active Beta EUR 2,029,282.74 UBI SICAV - Global Corporate Bond EUR 1,762,289.66 UBI SICAV - Euro Corporate Short Term EUR 69,814,035.50 UBI SICAV - Euro Equity High Dividend EUR 13,920,946.07 UBI SICAV - Global Dynamic Allocation EUR 42,983,361.38 UBI SICAV - Beta Neutral EUR 3,153,147.68 UBI SICAV - Long/Short Euro EUR 4,179,982.57 UBI SICAV - Cedola Mercati Emergenti EUR 923,474.83 UBI SICAV - Multiasset Europe 50 EUR 43,942,850.09 UBI SICAV - Global Multiasset 30 EUR 28,224,892.32 UBI SICAV - Italian Equity EUR 26,469,649.43 UBI SICAV - European Equity EUR 17,147,654.53 UBI SICAV - Social 4 Future EUR 36,480,405.19

EUR 670,390,594.42 Il valore di mercato dei titoli dati in prestito indicato nella tabella sopra riportata potrebbe differire dal valore di mercato indicato nel Prospetto degli Investimenti a causa dei diversi punti di valutazione utilizzati ai fini della valutazione del portafoglio e del monitoraggio del prestito titoli.

Le garanzie fornite corrispondono a obbligazioni emesse o garantite da Stati membri dell'Organizzazione per la Cooperazione e lo Sviluppo Economico (OCSE) o dalle loro autorità governative territoriali o da Organismi Sovranazionali e imprese di dimensione UE, regionale o mondiale; oppure a titoli azionari del seguente indice: S&P/TSX Composite, S&P 500, CAC 40, DAX 30, FTSE 100.

A fronte della messa a disposizione dei titoli in prestito nel corso dell' esercizio, i comparti partecipanti ai programmi di prestito titoli hanno ricevuto i "Proventi al netto delle Spese" indicati nella tabella sopra riportata, che si riflettono nel Prospetto delle Operationi e delle Variazioni del Patrimonio Netto come "Ricavi da Prestito Titoli". La differenza tra il reddito lordo e il reddito netto è versata a RBC Investor Services Trust, Canada, RBC Investor Services Bank S.A. Luxembourg e, in caso di operazioni con mutuatari USA, la ritenuta alla fonte USA è versata all’IRS.

Nota 10 - Operazioni di Cambio a Termine


Data di Divisa del Utile/(Perdita) Divisa Acquisto (1) Divisa Vendita Scadenza comparto non realizzato

EUR 29,647,854 USD 33,500,000 31/08/2017 EUR 368,733.33

EUR 39,560,539 GBP 35,000,000 31/08/2017 EUR (238,963.93)

129,769.40


Data di Divisa del Divisa Acquisto (1) Divisa Vendita Scadenza comparto Utile non realizz.

USD 2,283,727 EUR 1,999,655 06/07/2017 EUR 1,836.65

1,836.65

(1) L’Impegno sulle Operazioni di Cambio a Termine è rappresentato dal ramo acquisto del contratto. 281

UBI SICAV

Nota Integrativa al 30 giugno 2017 (segue) Nota 10 - Operazioni di Cambio a Termine (segue)



EUR 2,882,496 GBP 2,550,000 31/08/2017 EUR (17,181.87)

EUR 706,246 USD 800,000 31/08/2017 EUR 7,037.69

GBP 150,000 EUR 169,664 31/08/2017 EUR 903.78

(9,240.40)



EUR 2,107,674 GBP 1,854,332 03/07/2017 EUR (3,497.52)

GBP 320,000 USD 411,688 05/07/2017 EUR 3,482.27

EUR 664,506,114 USD 746,940,884 05/07/2017 EUR 9,844,271.45

EUR 62,791,768 GBP 54,455,682 05/07/2017 EUR 795,783.23

USD 1,945,475 GBP 1,506,991 05/07/2017 EUR (10,531.79)

GBP 55,642,673 EUR 63,015,371 05/07/2017 EUR 332,031.73

USD 745,407,098 EUR 660,631,353 05/07/2017 EUR (7,311,630.58)

EUR 62,360,043 GBP 55,100,710 02/08/2017 EUR (336,401.38)

EUR 655,283,980 USD 740,506,911 02/08/2017 EUR 7,101,470.53

USD 7,722,129 EUR 6,787,922 02/08/2017 EUR (28,455.52)

GBP 75,653 USD 98,443 02/08/2017 EUR (89.35)

GBP 1,855,432 EUR 2,107,674 02/08/2017 EUR 3,525.35

10,389,958.42



AUD 581,295 EUR 389,000 05/07/2017 EUR 1,698.53 EUR 356,000 CAD 538,402 05/07/2017 EUR (7,327.46) EUR 386,000 SEK 3,774,551 05/07/2017 EUR (6,311.08) EUR 243,000 JPY 30,031,669 05/07/2017 EUR 8,724.31

(1) L’Impegno sulle Operazioni di Cambio a Termine è rappresentato dal ramo acquisto del contratto.

282

UBI SICAV


UBI SICAV - Active Beta (segue)


NOK 4,002,154 EUR 421,000 05/07/2017 EUR (2,240.88)

NZD 765,504 EUR 489,000 05/07/2017 EUR 2,082.58

USD 549,386 EUR 489,000 05/07/2017 EUR (7,484.74)

EUR 817,000 USD 916,756 12/07/2017 EUR 13,762.30

CAD 1,076,733 EUR 724,000 31/07/2017 EUR 1,948.62

EUR 362,000 AUD 541,624 31/07/2017 EUR (1,446.15)

EUR 362,000 CAD 538,041 31/07/2017 EUR (755.42)

EUR 362,000 JPY 46,147,760 31/07/2017 EUR 2,120.33

EUR 362,000 NOK 3,482,621 31/07/2017 EUR (2,094.68)

EUR 362,000 NZD 565,227 31/07/2017 EUR 53.43

EUR 362,000 SEK 3,525,627 31/07/2017 EUR (4,469.91)

EUR 362,000 USD 412,101 31/07/2017 EUR 1,239.25

GBP 318,488 EUR 362,000 31/07/2017 EUR 405.45

NZD 565,878 EUR 362,000 31/07/2017 EUR 363.94

SEK 3,518,459 EUR 362,000 31/07/2017 EUR 3,725.36

3,993.78



USD 218,531 GBP 169,096 05/07/2017 EUR (977.06)

EUR 8,119,319 GBP 7,040,105 05/07/2017 EUR 104,392.67

GBP 223,000 USD 281,881 05/07/2017 EUR 6,822.55

EUR 104,412,977 USD 117,362,988 05/07/2017 EUR 1,549,321.85

GBP 6,986,202 EUR 7,911,242 05/07/2017 EUR 42,325.22

USD 117,426,338 EUR 104,064,233 05/07/2017 EUR (1,144,710.82)

EUR 7,906,783 GBP 6,986,202 02/08/2017 EUR (42,479.41) (1) L’Impegno sulle Operazioni di Cambio a Termine è rappresentato dal ramo acquisto del contratto.

283

UBI SICAV


UBI SICAV - Global Corporate Bond (segue)


EUR 104,392,266 USD 117,977,069 02/08/2017 EUR 1,124,248.12

1,638,943.12


Data di Divisa del Divisa Acquisto (1) Divisa Vendita Scadenza comparto Perdita non realizz.

EUR 2,938,783 GBP 2,600,000 31/08/2017 EUR (17,751.61)

(17,751.61)



CNH 1,972,057 USD 287,942 03/07/2017 EUR 2,524.10 USD 2,953,775 MYR 12,726,390 03/07/2017 EUR (7,638.92) MYR 12,726,390 USD 2,950,552 03/07/2017 EUR 10,463.03 USD 290,136 CNH 1,972,057 03/07/2017 EUR (600.40) USD 738,339 EUR 646,200 05/07/2017 EUR 924.99 RON 1,176,051 USD 294,684 05/07/2017 EUR (336.79) USD 261,004 ARS 4,277,848 06/07/2017 EUR 3,810.08 ARS 4,277,848 USD 267,767 06/07/2017 EUR (9,727.60) BRL 44,875 USD 13,855 07/07/2017 EUR (293.19) USD 2,008,184 TRY 7,143,776 07/07/2017 EUR (13,601.01) ZAR 19,585,007 USD 1,455,554 07/07/2017 EUR 32,332.77 TRY 9,699,239 USD 2,693,034 07/07/2017 EUR 47,810.10 USD 3,083,929 ZAR 41,172,355 07/07/2017 EUR (46,980.69) RUB 153,960,980 USD 2,674,004 07/07/2017 EUR (71,003.07) USD 2,635,080 RUB 153,960,980 07/07/2017 EUR 36,937.02 CZK 6,534,667 EUR 246,796 12/07/2017 EUR 3,250.06 USD 441 AUD 590 12/07/2017 EUR (9.73)


284

UBI SICAV


UBI SICAV - Emerging Markets Bond (segue)


USD 1,310 CAD 1,747 12/07/2017 EUR (30.61)

EUR 919,398 CZK 24,812,772 12/07/2017 EUR (30,056.18)

PHP 59,238,282 USD 1,190,811 12/07/2017 EUR (15,322.01)

USD 641,737 CZK 15,017,678 12/07/2017 EUR (12,369.42)

CZK 65,320,438 USD 2,714,747 12/07/2017 EUR 120,914.60

CLP 792,169,464 USD 1,187,439 12/07/2017 EUR 1,408.89

USD 889,072 CLP 587,054,961 12/07/2017 EUR 6,941.28

USD 1,187,718 COP 3,498,265,671 12/07/2017 EUR 41,578.70

COP 7,444,571,967 USD 2,505,606 12/07/2017 EUR (68,971.33)

USD 1,217,654 PHP 61,173,315 12/07/2017 EUR 5,256.91

HUF 38,177,209 EUR 124,241 21/07/2017 EUR (828.61)

ILS 1,456,139 USD 406,577 21/07/2017 EUR 9,551.26

ILS 1,402,030 EUR 353,393 21/07/2017 EUR (1,345.47)

USD 1,097,581 ILS 3,887,599 21/07/2017 EUR (14,881.64)

PLN 1,606,788 EUR 380,638 21/07/2017 EUR (1,282.39)

USD 852,531 HUF 237,419,058 21/07/2017 EUR (20,819.29)

RON 5,934,238 USD 1,425,151 21/07/2017 EUR 52,920.83

HUF 960,791,058 USD 3,346,359 21/07/2017 EUR 175,194.48

PLN 16,536,346 USD 4,337,042 21/07/2017 EUR 105,749.31

USD 2,302,762 PLN 8,778,167 21/07/2017 EUR (55,726.98)

USD 1,050,945 RON 4,289,325 21/07/2017 EUR (19,980.37)

USD 1,298,643 CNH 9,000,556 26/07/2017 EUR (22,696.93)

PEN 1,536,987 USD 469,364 26/07/2017 EUR 2,828.12

USD 144,570 PEN 473,920 26/07/2017 EUR (1,009.65)

CNH 9,000,556 USD 1,319,325 26/07/2017 EUR 4,516.62

USD 417,471 PEN 1,367,925 27/07/2017 EUR (2,729.89) (1) L’Impegno sulle Operazioni di Cambio a Termine è rappresentato dal ramo acquisto del contratto.

285

UBI SICAV




PEN 36,605 USD 11,225 27/07/2017 EUR 25.79 USD 3,477,862 JPY 388,543,094 27/07/2017 EUR 14,977.01 USD 7,504,132 EUR 6,766,408 27/07/2017 EUR (195,888.54) EUR 3,630,267 USD 3,998,772 27/07/2017 EUR 129,151.76 JPY 288,785,935 USD 2,583,181 27/07/2017 EUR (9,607.32) ARS 9,142,715 USD 569,342 02/08/2017 EUR (24,820.65) USD 1,836,712 BRL 6,107,515 02/08/2017 EUR 7,057.47 BRL 3,430,579 USD 1,031,373 02/08/2017 EUR (3,666.71) USD 219,000 INR 14,179,155 08/08/2017 EUR 790.13 TWD 5,880,490 USD 196,000 08/08/2017 EUR (2,255.67) MXN 5,281,482 EUR 253,369 08/08/2017 EUR 408.47 USD 1,444,521 TWD 43,462,405 08/08/2017 EUR 13,062.83 INR 140,281,307 USD 2,164,222 08/08/2017 EUR (5,623.97) MXN 23,945,075 USD 1,302,203 08/08/2017 EUR 11,064.54 USD 2,615,538 MXN 47,672,029 08/08/2017 EUR (1,881.36) ARS 2,286,496 USD 141,579 10/08/2017 EUR (5,972.32) USD 179,383 IDR 2,403,106,544 11/08/2017 EUR 183.14 USD 1,075,984 THB 36,879,332 11/08/2017 EUR (7,961.35) SGD 796,237 USD 573,627 11/08/2017 EUR 4,229.22 USD 2,355,535 SGD 3,248,856 11/08/2017 EUR (4,115.50) THB 88,077,109 USD 2,570,271 11/08/2017 EUR 18,526.63 ARS 3,410,459 USD 205,775 17/08/2017 EUR (4,781.96) USD 518,438 KRW 581,334,150 21/08/2017 EUR 9,075.20 USD 678,096 IDR 9,353,175,020 21/08/2017 EUR (16,280.74) IDR 15,365,509,475 USD 1,146,859 21/08/2017 EUR (2,269.84) RUB 72,771,345 USD 1,218,698 25/08/2017 EUR (5,419.40)


286

UBI SICAV




MYR 826,375 USD 191,113 15/09/2017 EUR 393.99

USD 1,020,221 MYR 4,401,154 15/09/2017 EUR (9.07)

ZAR 907,753 USD 69,228 22/09/2017 EUR (785.93)

TRY 224,771 USD 62,415 22/09/2017 EUR (114.28)

USD 70,592 TRY 254,406 22/09/2017 EUR 85.66

USD 76,475 ZAR 1,015,475 22/09/2017 EUR 31.20

ARS 4,631,574 USD 271,637 25/09/2017 EUR (4,120.89)

PEN 870,135 USD 264,720 06/10/2017 EUR 1,213.04

CZK 14,858,162 USD 652,980 06/10/2017 EUR (1,935.11)

USD 98,000 COP 302,820,000 12/10/2017 EUR 167.86

159,604.31



EUR 105,495,476 USD 119,500,000 31/08/2017 EUR 1,051,255.43 EUR 12,054,809 AUD 18,000,000 31/08/2017 EUR 348.50 EUR 14,531,112 NOK 140,000,000 31/08/2017 EUR (92,587.92) EUR 36,783,408 GBP 32,500,000 31/08/2017 EUR (173,211.85) EUR 27,613,521 JPY 3,500,000,000 31/08/2017 EUR 324,641.65 EUR 7,443,143 CHF 8,100,000 31/08/2017 EUR 23,397.80 JPY 1,500,000,000 EUR 11,773,940 31/08/2017 EUR (78,636.05) NOK 140,000,000 EUR 14,681,824 31/08/2017 EUR (58,295.67) USD 27,500,000 EUR 24,147,166 31/08/2017 EUR (111,162.69)

885,749.20 (1) L’Impegno sulle Operazioni di Cambio a Termine è rappresentato dal ramo acquisto del contratto.

287

UBI SICAV




EUR 1,770,021 USD 2,000,000 31/08/2017 EUR 22,013.93

EUR 2,373,632 GBP 2,100,000 31/08/2017 EUR (14,337.83)

7,676.10



CNH 11,834,007 USD 1,727,895 03/07/2017 EUR 15,146.74

USD 14,460,116 MYR 62,366,681 03/07/2017 EUR (50,667.35)

MYR 62,366,681 USD 14,464,326 03/07/2017 EUR 46,969.08

EUR 377,355 USD 430,649 03/07/2017 EUR (128.26)

USD 1,741,063 CNH 11,834,007 03/07/2017 EUR (3,602.91)

EUR 164,843 USD 188,015 05/07/2017 EUR 54.91

RON 6,450,815 USD 1,616,385 05/07/2017 EUR (1,847.39)

USD 1,138,218 ARS 18,655,396 06/07/2017 EUR 16,615.51

ARS 18,655,396 USD 1,168,153 06/07/2017 EUR (42,805.97)

TRY 58,301,597 USD 16,172,111 07/07/2017 EUR 301,034.61

USD 12,156,145 TRY 43,269,306 07/07/2017 EUR (88,767.77)

USD 16,353,856 ZAR 218,466,362 07/07/2017 EUR (257,981.46)

ZAR 103,525,144 USD 7,662,719 07/07/2017 EUR 198,305.99

USD 14,376,990 RUB 840,943,546 07/07/2017 EUR 187,734.27

RUB 840,943,545 USD 14,617,250 07/07/2017 EUR (398,069.87)

CZK 40,213,846 EUR 1,518,764 12/07/2017 EUR 20,000.63

USD 5,248 AUD 7,017 12/07/2017 EUR (115.72)

USD 8,300 CAD 11,066 12/07/2017 EUR (193.90)

EUR 5,683,143 CZK 153,377,170 12/07/2017 EUR (185,795.58)

CZK 379,663,030 USD 15,759,632 12/07/2017 EUR 719,744.18


288

UBI SICAV


UBI SICAV - Cedola Mercati Emergenti (segue)


PHP 372,709,183 USD 7,489,291 12/07/2017 EUR (93,837.05)

USD 7,678,777 COP 22,620,859,634 12/07/2017 EUR 267,652.21

USD 3,784,653 CZK 88,590,054 12/07/2017 EUR (73,830.93)

CLP 4,672,156,723 USD 7,003,880 12/07/2017 EUR 7,913.99

USD 5,423,988 CLP 3,580,812,525 12/07/2017 EUR 43,207.69

COP 46,018,097,332 USD 15,518,661 12/07/2017 EUR (453,020.96)

USD 7,310,283 PHP 367,171,035 12/07/2017 EUR 33,084.85

RON 33,586,479 USD 8,063,544 21/07/2017 EUR 301,708.51

HUF 222,180,720 EUR 723,048 21/07/2017 EUR (4,822.30)

ILS 8,524,008 USD 2,379,729 21/07/2017 EUR 56,182.39

ILS 8,051,294 EUR 2,029,387 21/07/2017 EUR (7,720.57)

HUF 5,445,508,976 USD 18,895,044 21/07/2017 EUR 1,055,399.67

USD 6,309,431 ILS 22,350,216 21/07/2017 EUR (86,147.07)

PLN 92,029,068 USD 24,078,604 21/07/2017 EUR 639,508.89

PLN 9,104,118 EUR 2,156,978 21/07/2017 EUR (7,536.57)

USD 13,208,973 PLN 50,344,467 21/07/2017 EUR (317,679.63)

USD 5,377,974 HUF 1,497,231,106 21/07/2017 EUR (129,826.17)

USD 5,655,983 RON 23,085,553 21/07/2017 EUR (107,801.47)

USD 7,793,851 CNH 54,011,949 26/07/2017 EUR (135,546.48)

USD 253,965 PEN 833,005 26/07/2017 EUR (1,901.69)

PEN 9,564,472 USD 2,920,598 26/07/2017 EUR 17,767.00

CNH 54,011,949 USD 7,917,254 26/07/2017 EUR 27,066.04

USD 16,459 CHF 16,277 27/07/2017 EUR (493.22)

USD 2,948,624 PEN 9,654,579 27/07/2017 EUR (17,346.32)

USD 44,600,969 EUR 40,212,290 27/07/2017 EUR (1,160,262.44)

USD 20,360,138 JPY 2,274,607,356 27/07/2017 EUR 87,725.04 (1) L’Impegno sulle Operazioni di Cambio a Termine è rappresentato dal ramo acquisto del contratto.

289

UBI SICAV




EUR 22,026,073 USD 24,266,360 27/07/2017 EUR 779,713.79 JPY 1,703,507,257 USD 15,237,506 27/07/2017 EUR (56,397.92) BRL 12,229,733 USD 3,674,321 02/08/2017 EUR (10,932.08) ARS 59,384,263 USD 3,697,112 02/08/2017 EUR (160,418.18) USD 9,201,882 BRL 30,630,181 02/08/2017 EUR 26,975.27 USD 8,409,035 TWD 253,006,835 08/08/2017 EUR 76,109.06 MXN 30,230,425 EUR 1,450,248 08/08/2017 EUR 2,338.01 EUR 351,236 USD 396,834 08/08/2017 EUR 3,982.55 TWD 39,199,859 USD 1,304,497 08/08/2017 EUR (13,234.22) INR 787,353,381 USD 12,146,957 08/08/2017 EUR (31,460.40) MXN 127,846,294 USD 6,951,104 08/08/2017 EUR 60,433.46 USD 1,506,740 INR 97,591,254 08/08/2017 EUR 4,929.39 USD 13,993,111 MXN 255,095,386 08/08/2017 EUR (12,503.97) ARS 12,996,205 USD 804,719 10/08/2017 EUR (33,946.05) USD 420,621 IDR 5,633,919,654 11/08/2017 EUR 490.38 USD 13,310,915 SGD 18,358,657 11/08/2017 EUR (23,044.36) USD 6,308,343 THB 216,163,914 11/08/2017 EUR (45,274.04) SGD 4,639,096 USD 3,342,487 11/08/2017 EUR 24,308.28 THB 506,855,011 USD 14,777,114 11/08/2017 EUR 118,851.94 ARS 15,842,769 USD 955,535 17/08/2017 EUR (21,897.26) USD 201,475 ARS 3,380,750 17/08/2017 EUR 2,604.93 USD 3,035,039 KRW 3,402,860,372 21/08/2017 EUR 53,422.28 IDR 55,057,275,872 USD 4,114,853 21/08/2017 EUR (12,920.08) USD 2,637,844 IDR 36,724,221,459 21/08/2017 EUR (85,671.01) RUB 390,134,363 USD 6,534,208 25/08/2017 EUR (29,621.60) MYR 4,190,060 USD 968,800 15/09/2017 EUR 2,189.72


290

UBI SICAV




USD 6,151,377 MYR 26,537,673 15/09/2017 EUR (282.40)

USD 644,350 TRY 2,322,167 22/09/2017 EUR 781.87

USD 418,829 ZAR 5,561,431 22/09/2017 EUR 170.85

ARS 18,655,396 USD 1,094,800 25/09/2017 EUR (17,195.70)

PEN 6,036,280 USD 1,836,410 06/10/2017 EUR 8,415.02

CZK 81,373,203 USD 3,576,154 06/10/2017 EUR (10,597.96)

USD 225,520 RUB 13,589,835 06/10/2017 EUR 958.26

USD 533,000 COP 1,646,970,000 12/10/2017 EUR 912.97

1,017,263.95



CHF 23,888,000 EUR 21,950,839 31/08/2017 EUR (69,048.53)

DKK 17,500,000 EUR 2,354,286 31/08/2017 EUR (170.70)

EUR 1,102,627 CHF 1,200,000 31/08/2017 EUR 3,405.59

EUR 2,826,251 NOK 26,950,000 31/08/2017 EUR 11,242.30

EUR 27,287,966 USD 30,900,000 31/08/2017 EUR 281,078.59

EUR 7,448,656 SEK 72,700,000 31/08/2017 EUR (108,999.38)

EUR 9,269,203 GBP 8,200,000 31/08/2017 EUR (55,251.51)

GBP 25,367,000 EUR 28,674,617 31/08/2017 EUR 170,680.59

USD 17,850,000 EUR 15,763,446 31/08/2017 EUR (161,894.28)

71,042.67



EUR 41,292,107 GBP 35,829,768 05/07/2017 EUR 501,104.16

EUR 675,896,880 USD 759,716,370 05/07/2017 EUR 10,037,874.67

GBP 35,829,768 EUR 40,573,973 05/07/2017 EUR 217,071.19 (1) L’Impegno sulle Operazioni di Cambio a Termine è rappresentato dal ramo acquisto del contratto.

291

UBI SICAV


Nota 10 - Operazioni di Cambio a Termine (segue) UBI

SICAV - Global High Yield Euro Hedged (segue)


USD 759,716,370 EUR 673,195,649 05/07/2017 EUR (7,334,417.19)

EUR 40,551,105 GBP 35,829,768 02/08/2017 EUR (217,861.94)

EUR 673,233,856 USD 760,894,517 02/08/2017 EUR 7,205,475.58

10,409,246.47



EUR 12,359,303 USD 14,000,000 31/08/2017 EUR 123,159.63

EUR 13,078,001 NOK 126,000,000 31/08/2017 EUR (83,329.13)

EUR 48,126,423 JPY 6,100,000,000 31/08/2017 EUR 565,804.01

EUR 6,027,405 AUD 9,000,000 31/08/2017 EUR 174.25

EUR 20,385,527 GBP 18,000,000 31/08/2017 EUR (82,738.28)

JPY 1,200,000,000 EUR 9,419,152 31/08/2017 EUR (62,908.84)

NOK 126,000,000 EUR 13,213,642 31/08/2017 EUR (52,466.10)

USD 44,000,000 EUR 38,635,466 31/08/2017 EUR (177,860.30)

229,835.24



EUR 11,947,643 USD 13,500,000 31/08/2017 EUR 148,594.02

EUR 9,042,409 GBP 8,000,000 31/08/2017 EUR (54,620.33)

93,973.69



AUD 4,070,683 EUR 2,724,000 05/07/2017 EUR 11,979.01

EUR 2,495,000 CAD 3,773,414 05/07/2017 EUR (51,395.93)


292

UBI SICAV


UBI SICAV - Income Opportunities (segue)


EUR 2,705,000 SEK 26,450,919 05/07/2017 EUR (44,198.42)

EUR 1,704,000 JPY 210,596,063 05/07/2017 EUR 61,149.62

NOK 28,062,695 EUR 2,952,000 05/07/2017 EUR (15,703.70)

NZD 5,371,068 EUR 3,431,000 05/07/2017 EUR 14,623.20

USD 3,854,696 EUR 3,431,000 05/07/2017 EUR (52,511.99)

EUR 5,764,000 USD 6,467,784 12/07/2017 EUR 97,094.12

JPY 1,211,605,720 EUR 9,749,000 20/07/2017 EUR (298,942.25)

EUR 15,200,000 USD 17,184,056 27/07/2017 EUR 154,052.07

CAD 7,523,745 EUR 5,059,000 31/07/2017 EUR 13,616.11

EUR 2,534,000 AUD 3,791,371 31/07/2017 EUR (10,123.06)

EUR 2,534,000 CAD 3,766,284 31/07/2017 EUR (5,287.93)

EUR 2,534,000 JPY 323,034,320 31/07/2017 EUR 14,842.31

EUR 2,534,000 NOK 24,378,347 31/07/2017 EUR (14,662.78)

EUR 2,534,000 NZD 3,956,588 31/07/2017 EUR 374.01

EUR 2,534,000 SEK 24,679,386 31/07/2017 EUR (31,289.39)

EUR 2,534,000 USD 2,884,706 31/07/2017 EUR 8,674.73

GBP 2,221,495 EUR 2,525,000 31/07/2017 EUR 2,828.05

NZD 3,961,149 EUR 2,534,000 31/07/2017 EUR 2,547.58

SEK 24,629,213 EUR 2,534,000 31/07/2017 EUR 26,077.52

(116,257.12)



EUR 565,189 GBP 500,000 31/08/2017 EUR (3,375.38)

EUR 6,460,577 USD 7,300,000 31/08/2017 EUR 80,350.84

GBP 10,000,000 EUR 11,303,906 31/08/2017 EUR 67,284.50

144,259.96


293

UBI SICAV




CHF 5,000,000 EUR 4,594,533 31/08/2017 EUR (14,452.56)

EUR 33,925,183 JPY 4,300,000,000 31/08/2017 EUR 398,845.46

EUR 26,047,103 GBP 23,000,000 31/08/2017 EUR (106,791.85)

EUR 7,369,350 NOK 71,000,000 31/08/2017 EUR (46,955.30)

EUR 78,128,448 USD 88,500,000 31/08/2017 EUR 778,544.82

NOK 71,000,000 EUR 7,445,782 31/08/2017 EUR (29,564.23)

USD 30,000,000 EUR 26,342,363 31/08/2017 EUR (121,268.39)

858,357.95



EUR 11,303,011 GBP 10,000,000 31/08/2017 EUR (68,275.41)

EUR 35,312,293 USD 40,000,000 31/08/2017 EUR 351,884.66

283,609.25



EUR 40,264,704 JPY 5,081,900,000 31/08/2017 EUR 642,117.29

EUR 24,414,868 GBP 21,600,000 31/08/2017 EUR (147,110.26)

EUR 1,173,377 AUD 1,750,000 31/08/2017 EUR 1,420.95

EUR 123,792,321 USD 139,950,000 31/08/2017 EUR 1,475,321.23

GBP 2,900,000 EUR 3,301,081 31/08/2017 EUR (3,436.29)

JPY 2,087,700,000 EUR 16,252,511 31/08/2017 EUR 25,013.89

USD 37,650,000 EUR 33,045,795 31/08/2017 EUR (138,321.46) 1,855,005.35


294

UBI SICAV




EUR 2,346,395 CAD 3,500,000 31/08/2017 EUR (10,741.45)

EUR 2,410,962 AUD 3,600,000 31/08/2017 EUR 69.70

EUR 19,555,620 GBP 17,300,000 31/08/2017 EUR (116,704.08)

EUR 75,146,658 USD 85,100,000 31/08/2017 EUR 768,448.12

EUR 33,369,355 JPY 4,228,500,000 31/08/2017 EUR 400,494.73

GBP 9,900,000 EUR 11,269,209 31/08/2017 EUR (11,730.78)

JPY 5,972,900,000 EUR 46,498,357 31/08/2017 EUR 71,564.63

USD 73,750,000 EUR 64,534,311 31/08/2017 EUR (74,119.90)

1,027,280.97



CNH 4,901,844 USD 715,723 03/07/2017 EUR 6,274.03

USD 721,178 CNH 4,901,844 03/07/2017 EUR (1,492.38)

MYR 2,725,578 USD 624,197 03/07/2017 EUR 9,004.74

USD 634,889 MYR 2,725,578 03/07/2017 EUR 368.95

EUR 334,384 USD 380,794 03/07/2017 EUR 600.82

USD 270,929 JPY 30,450,000 05/07/2017 EUR (80.34)

ARS 39,010,915 USD 2,435,056 06/07/2017 EUR (82,756.93)

USD 2,398,714 ARS 39,010,915 06/07/2017 EUR 51,056.01

ZAR 11,735,436 USD 878,000 07/07/2017 EUR 14,267.93

RUB 210,980,391 USD 3,676,214 07/07/2017 EUR (107,725.14)

TRY 8,986,805 USD 2,500,823 07/07/2017 EUR 39,390.17

USD 4,107,931 ZAR 55,204,925 07/07/2017 EUR (86,758.18)

USD 207,924 TRY 728,786 07/07/2017 EUR 1,296.62

USD 3,580,820 RUB 210,980,391 07/07/2017 EUR 24,134.71


295

UBI SICAV




CZK 14,360,409 EUR 542,352 12/07/2017 EUR 7,142.25 COP 1,604,193,912 USD 557,628 12/07/2017 EUR (30,385.91) USD 1,248,000 CZK 31,142,592 12/07/2017 EUR (98,199.05) EUR 2,293,504 CZK 61,882,026 12/07/2017 EUR (74,395.90) USD 5,082,996 PHP 254,932,494 12/07/2017 EUR 29,420.23 CZK 124,244,565 USD 5,077,247 12/07/2017 EUR 305,743.49 PHP 254,806,002 USD 5,120,000 12/07/2017 EUR (64,046.24) USD 2,471,268 CAD 3,333,081 12/07/2017 EUR (83,474.89) CLP 408,295,183 USD 612,320 12/07/2017 EUR 465.29 NZD 4,858,403 USD 3,396,224 12/07/2017 EUR 139,604.82 USD 997,539 COP 2,933,685,392 12/07/2017 EUR 36,191.30 CAD 7,668,769 USD 5,758,823 12/07/2017 EUR 128,171.50 AUD 3,730,310 USD 2,815,400 12/07/2017 EUR 39,349.29 USD 2,860,556 CLP 1,883,636,958 12/07/2017 EUR 29,177.64 USD 7,156,868 AUD 9,557,761 12/07/2017 EUR (150,573.02) USD 7,552,988 NZD 10,864,665 12/07/2017 EUR (348,985.56) DKK 4,706,943 USD 680,115 21/07/2017 EUR 37,463.39 USD 2,170,000 SEK 19,341,273 21/07/2017 EUR (109,806.04) USD 2,548,000 NOK 21,868,824 21/07/2017 EUR (55,504.26) USD 324,000 HUF 94,553,586 21/07/2017 EUR (21,893.59) USD 1,380,000 PLN 5,478,917 21/07/2017 EUR (85,005.37) PLN 11,888,949 USD 3,048,998 21/07/2017 EUR 136,654.85 NOK 27,585,979 USD 3,231,116 21/07/2017 EUR 55,139.76 HUF 835,717,128 USD 2,910,926 21/07/2017 EUR 152,221.12 HUF 82,788,321 EUR 269,420 21/07/2017 EUR (1,796.87) ILS 9,802,491 USD 2,698,819 21/07/2017 EUR 97,778.19


296

UBI SICAV




ILS 3,012,594 EUR 759,347 21/07/2017 EUR (2,889.65)

USD 3,865,722 ILS 13,877,709 21/07/2017 EUR (98,988.83)

PLN 4,681,052 EUR 1,104,194 21/07/2017 EUR 981.13

SEK 21,119,017 USD 2,393,288 21/07/2017 EUR 99,127.31

PEN 1,927,926 USD 590,031 26/07/2017 EUR 2,423.00

USD 3,228,134 CNH 22,369,200 26/07/2017 EUR (55,883.64)

CNH 22,369,200 USD 3,277,429 26/07/2017 EUR 12,544.99

PEN 1,173,087 USD 358,364 27/07/2017 EUR 2,025.81

GBP 84,963 EUR 100,000 27/07/2017 EUR (3,312.99)

CHF 1,264,932 USD 1,279,000 27/07/2017 EUR 38,433.39

USD 1,850,277 CHF 1,827,736 27/07/2017 EUR (53,512.13)

EUR 215,260 GBP 189,412 27/07/2017 EUR (290.46)

USD 9,877,147 GBP 7,676,401 27/07/2017 EUR (87,448.85)

USD 9,915,266 JPY 1,106,946,069 27/07/2017 EUR 48,760.74

EUR 12,362,709 USD 13,556,498 27/07/2017 EUR 493,417.03

GBP 2,425,359 USD 3,106,827 27/07/2017 EUR 39,798.53

JPY 3,214,415,658 USD 29,074,579 27/07/2017 EUR (388,984.12)

USD 53,390,363 EUR 48,455,308 27/07/2017 EUR (1,707,401.16)

ARS 7,552,171 USD 474,681 02/08/2017 EUR (24,347.76)

BRL 5,240,979 USD 1,569,085 02/08/2017 EUR 157.10

USD 3,774,155 TWD 113,554,902 08/08/2017 EUR 34,159.38

INR 362,510,421 USD 5,592,655 08/08/2017 EUR (14,481.83)

USD 744,000 INR 48,170,280 08/08/2017 EUR 2,684.29

TWD 20,101,675 USD 670,000 08/08/2017 EUR (7,710.70)

MXN 74,954,842 USD 4,050,596 08/08/2017 EUR 57,135.81

MXN 11,302,610 EUR 542,222 08/08/2017 EUR 874.14 (1) L’Impegno sulle Operazioni di Cambio a Termine è rappresentato dal ramo acquisto del contratto.

297

UBI SICAV




USD 3,879,951 MXN 70,750,552 08/08/2017 EUR (4,376.69)

ARS 4,310,275 USD 266,890 10/08/2017 EUR (11,258.42)

THB 18,170,096 USD 525,795 11/08/2017 EUR 7,719.08

USD 992,700 THB 33,956,793 11/08/2017 EUR (5,591.54)

USD 3,984,620 SGD 5,496,479 11/08/2017 EUR (7,419.38)

SGD 1,694,991 USD 1,221,109 11/08/2017 EUR 9,002.95

ARS 5,996,945 USD 361,698 17/08/2017 EUR (8,288.74)

IDR 29,627,623,032 USD 2,214,505 21/08/2017 EUR (7,132.77)

KRW 2,214,562,766 USD 1,981,038 21/08/2017 EUR (39,896.69)

USD 308,228 KRW 348,698,110 21/08/2017 EUR 3,038.18

USD 587,900 MYR 2,533,261 23/08/2017 EUR (112.70)

MYR 1,362,789 USD 316,302 23/08/2017 EUR 28.26

RUB 124,743,203 USD 2,088,260 25/08/2017 EUR (8,581.50)

ARS 23,744,415 USD 1,393,452 25/09/2017 EUR (21,886.53)

USD 322,000 COP 994,819,000 12/10/2017 EUR 597.71

BRL 1,503,441 EUR 414,000 06/04/2018 EUR (40,998.90)

(1,809,849.72)



USD 79,646 EUR 69,622 05/07/2017 EUR 185.32

185.32



EUR 2,207,018 USD 2,500,000 31/08/2017 EUR 21,992.79 (1) L’Impegno sulle Operazioni di Cambio a Termine è rappresentato dal ramo acquisto del contratto. (2) Cfr. Nota 17.

298

UBI SICAV



(segue)


EUR 678,181 GBP 600,000 31/08/2017 EUR (4,096.53)

GBP 500,000 EUR 569,152 31/08/2017 EUR (592.46)

USD 2,600,000 EUR 2,273,323 31/08/2017 EUR (828.56)

16,475.24



EUR 36,571,987 USD 41,400,000 31/08/2017 EUR 388,035.66

388,035.66



EUR 265,503 USD 300,000 31/08/2017 EUR 3,302.09

EUR 395,605 GBP 350,000 31/08/2017 EUR (2,389.64)

912.45

Nota 11 - Opzioni

UBI SICAV - Euro Fixed Income Tipo Quantità Denominazione Data Strike Divisa Impegni in Divisa Impegno

Divisa Base (in EUR) Long 50 CALL TREASURY BONDS USA 21/07/2017 157.00 USD 7,850,000 EUR 6,881,739 Long 5,000,000 PUT EUR/USD SPOT -CROSS RATES 18/08/2017 1.10 EUR 55,000 EUR 55,000 Short (120) PUT EURO BUND 25/08/2017 156.00 EUR (18,720,000) EUR (18,720,000) Long 120 PUT EURO BUND 25/08/2017 160.00 EUR 19,200,000 EUR 19,200,000

EUR 7,416,739

(1) L’Impegno sulle Operazioni di Cambio a Termine è rappresentato dal ramo acquisto del contratto. (2) Cfr. Nota 19.

299

UBI SICAV

Nota Integrativa al 30 giugno 2017 (segue) Nota 11 - Opzioni (segue)


Tipo Quantità Denominazione Data Strike Divisa Impegni in Divisa Impegno Divisa Base (in EUR)

Long 6,400,000 PUT EUR/JPY SPOT - CROSS RATES 25/08/2017 123.00 EUR 7,872,000 EUR 7,872,000 EUR 7,872,000

UBI SICAV - Multiasset Europe 50 Tipo Quantità Denominazione Data Strike Divisa Impegni in Divisa Impegno

Divisa Base (in EUR) Long 100 CALL TREASURY BONDS USA 21/07/2017 157.00 USD 15,700,000 EUR 13,763,479 Long 100 CALL TREASURY BONDS USA 21/07/2017 160.00 USD 16,000,000 EUR 14,026,475 Long 24,400,000 PUT EUR/JPY SPOT - CROSS RATES 25/08/2017 123.00 EUR 30,012,000 EUR 30,012,000 Long 10,000,000 PUT EUR/USD SPOT -CROSS RATES 18/08/2017 1.10 EUR 110,000 EUR 110,000 Short (200) PUT EURO BUND 25/08/2017 156.00 EUR (31,200,000) EUR (31,200,000) Long 200 PUT EURO BUND 25/08/2017 160.00 EUR 32,000,000 EUR 32,000,000

EUR 58,711,954

UBI SICAV - Euro Corporate Bond High Potential Tipo Quantità Denominazione Data Strike Divisa Impegni in Divisa Impegno

Divisa Base (in EUR) Long 800 PUT TREASURY BONDS USA 25/08/2017 152.00 USD 121,600,000 EUR 106,601,210

EUR 106,601,210

UBI SICAV - Obiettivo Stabilità Tipo Quantità Denominazione Data Strike Divisa Impegni in Divisa Impegno

Divisa Base (in EUR) Long 211 CALL TREASURY BONDS USA 21/07/2017 156.00 USD 32,916,000 EUR 28,855,966 Short (211) CALL TREASURY BONDS USA 21/07/2017 159.00 USD (33,549,000) EUR (29,410,888) Long 410 CALL TREASURY BONDS USA 21/07/2017 156.00 USD 63,960,000 EUR 56,070,834 Short (410) CALL TREASURY BONDS USA 21/07/2017 159.00 USD (65,190,000) EUR (57,149,119) Long 51,700,000 PUT EUR/JPY SPOT - CROSS RATES 25/08/2017 123.00 EUR 63,591,000 EUR 63,591,000 Long 254 PUT EURO BUND 25/08/2017 160.50 EUR 40,767,000 EUR 40,767,000

EUR 102,724,793

UBI SICAV - Obiettivo Controllo Tipo Quantità Denominazione Data Strike Divisa Impegni in Divisa Impegno

Divisa Base (in EUR) Long 121 CALL TREASURY BONDS USA 21/07/2017 156.00 USD 18,876,000 EUR 16,547,734 Long 242 CALL TREASURY BONDS USA 21/07/2017 156.00 USD 37,752,000 EUR 33,095,468 Short (242) CALL TREASURY BONDS USA 21/07/2017 159.00 USD (38,478,000) EUR (33,731,919) Short (121) CALL TREASURY BONDS USA 21/07/2017 159.00 USD (19,239,000) EUR (16,865,959) Long 37,000,000 PUT EUR/JPY SPOT - CROSS RATES 25/08/2017 123.00 EUR 45,510,000 EUR 45,510,000 Long 209 PUT EURO BUND 25/08/2017 160.50 EUR 33,544,500 EUR 33,544,500

EUR 78,099,824

UBI SICAV - Globo (Global Bond) Tipo Quantità Denominazione Data Strike Divisa Impegni in Divisa Impegno

Divisa Base (in EUR) Long 1,000,000 CALL EUR/BRL SPOT - CROSS RATES Short (1,000,000) CALL EUR/BRL SPOT - CROSS RATES Short (1,000,000) PUT EUR/BRL SPOT - CROSS RATES

04/04/2018 3.40 EUR 04/04/2018 3.80 EUR 04/04/2018 3.20 EUR

34,000 EUR 34,000 (38,000) EUR (38,000) (32,000) EUR (32,000)

EUR (36,000)

300

UBI SICAV


Nota 11 - Opzioni (segue)



Long 15 CALL TREASURY BONDS USA 21/07/2017 156.00 USD 2,340,000 EUR 2,051,372 Long 35 CALL TREASURY BONDS USA 21/07/2017 156.00 USD 5,460,000 EUR 4,786,535 Short (35) CALL TREASURY BONDS USA 21/07/2017 159.00 USD (5,565,000) EUR (4,878,583) Long 3,000,000 PUT EUR/JPY SPOT - CROSS RATES 25/08/2017 123.00 EUR 3,690,000 EUR 3,690,000

EUR 5,649,324



Long 35 CALL TREASURY BONDS USA 21/07/2017 157.00 USD 5,495,000 EUR 4,817,217 Long 115 CALL TREASURY BONDS USA 21/07/2017 157.00 USD 18,055,000 EUR 15,828,000 Long 7,400,000 PUT EUR/JPY SPOT - CROSS RATES 25/08/2017 123.00 EUR 9,102,000 EUR 9,102,000 Long 125 PUT EURO BUND 25/08/2017 160.00 EUR 20,000,000 EUR 20,000,000

EUR 49,747,217



Long 30 PUT TREASURY BONDS USA 25/08/2017 152.00 USD 4,560,000 EUR 3,997,545 EUR 3,997,545

Nota 12 – Contratti Per Differenza (CFD)

Al 30 giugno 2017, i seguenti CFD erano attivi per il comparto UBI SICAV - Global Dynamic Allocation.

Descrizione

Numero di contratti


Utile / (perdita) Divisa Impegni non realizzato

(in EUR) MSCI DAILY 761,000 EUR 144,214,827.00 (5,428,213.00) S&P 500 FIN 7,521 USD 5,001,821.50 80,662.02 S&P 500 HCA 5,491 USD 7,374,687.55 167,885.39 S&P 500 MAT (21,504) USD (11,967,406.08) 120,084.58 S&P 500 UTI (10,373) USD (6,859,457.44) 148,952.17 SPTRCOND -S&P 500 CONS DIS SEC (4,797) USD (4,644,119.61) 20,639.68 SPTRENRS - S&P 500 ENERGY TR 14,373 USD 11,728,942.92 (183,522.56)

(5,073,511.72) (1) Cfr. Nota 17.

301

UBI SICAV


Nota 12 - Contratti Per Differenza (CFD) (segue)

Al 30 giugno 2017, i seguenti CFD erano attivi per il comparto UBI SICAV - Beta Neutral

Descrizione

Numero di contratti


Divisa

Utile / (perdita) Impegni non realizzato

(in EUR) A.P. MOELLER - MAERSK A/S B (52) EUR (91,550.78) 1.79 AA PUBLIC LIMITED COMPANY 10,705 EUR 27,797.10 10.13 ALFA LAVAL AB 2,235 EUR 40,053.39 40.19 AMEC PLC -EQ EUR (5,217) EUR (27,758.86) (10.16) ANTOFAGASTA PLC (5,193) EUR (47,284.06) (17.37) ARYZTA AG /NAM. 1,310 EUR 37,815.86 26.68 ASHTEAD GROUP PLC (2,289) EUR (41,423.58) (14.88) ASS.BRITISH FOODS PLC 2,097 EUR 70,118.47 25.41 AUTO TRADER GR 9,966 EUR 43,130.30 15.39 B&M EUROPEAN VALUE RETAIL SA. (9,612) EUR (37,077.20) (13.33) BALFOUR BEATTY PLC 11,054 EUR 34,066.32 12.26

BARRY CALLEBAUT AG /NAM. - EUR EQUIV.

(30) EUR

(36,200.57) (25.53)

BEAZLEY PLC (4,744) EUR (26,371.29) (9.36) BELLWAY PLC 1,047 EUR 35,474.12 12.86 BERKELEY GRP HLDGS 1,275 EUR 46,858.36 17.03 BHP BILLITON PLC 5,788 EUR 77,520.01 27.95 BILLERUDKORSNAS AB 2,361 EUR 32,690.74 32.92 BOLIDEN AB 2,631 EUR 62,875.91 63.15 BRITISH SKY BROADCASTING GROUP 5,191 EUR 58,764.54 21.11 BT GROUP PLC 21,700 EUR 72,843.62 27.10 BUNZL PLC 1,553 EUR 40,467.41 14.71 CAPITA PLC (6,109) EUR (48,110.54) (17.44) CARNIVAL PLC (1,721) EUR (99,568.63) (35.97) CLARIANT /NAMEN-AKT. (2,488) EUR (48,108.63) (34.00) COBHAM PLC 27,462 EUR 40,533.58 13.40 CRODA INTERNATIONAL PLC (981) EUR (43,404.82) (15.68)

302

UBI SICAV



Al 30 giugno 2017, i seguenti CFD erano attivi per il comparto UBI SICAV - Beta Neutral (segue)

Descrizione

Numero di contratti


Divisa

Utile (perdita) Impegni non realizzata

(in EUR) DANSKE BANK AS 2,540 EUR 85,543.52 (1.65) DIRECT LINE (10,248) EUR (41,479.60) (15.17) DKSH HOLDING LTD SHS (1,013) EUR (72,201.60) (50.88) DONG ENERGY A/S (1,160) EUR (45,853.94) 0.86 DRAX GROUP PLC 9,136 EUR 33,888.46 12.17 DUFRY AG BASEL (312) EUR (44,875.52) (31.64) EASYJET PLC 3,793 EUR 58,705.70 21.16 ELECTROCOMPONENTS (6,414) EUR (42,148.56) (14.99) ELECTROLUX AB B (1,661) EUR (47,671.69) (47.83) ELEKTA AB (4,350) EUR (36,106.77) (36.14) EMPRUNT - GJENSIDIGE FORSIKRING 2,718 EUR 40,539.49 22.26 EMS CHEMIE HOLDING AG (92) EUR (59,550.58) (41.99) ERICSSON TEL. B (10,479) EUR (65,629.85) (65.89) EXPERIAN PLC 5,996 EUR 107,552.41 38.73 FABEGE AB 2,033 EUR 34,235.52 34.36 FASTIGHETS BALDER AB B (1,911) EUR (40,524.28) (40.70) FISCHER GEORG AG/NAM. (37) EUR (31,453.02) (22.18) FLUGHAFEN ZUERICH AG (380) EUR (81,897.15) (57.77) FRESNILLO PLC (3,690) EUR (62,448.66) (22.72) GALENICA AG (560) EUR (54,192.82) (38.19) GENMAB A/S 503 EUR 93,970.01 (1.86) GETINGE AB B (2,316) EUR (39,699.38) (39.96) GLAXOSMITHKLINE PLC 6,023 EUR 112,186.70 40.85 GREENE KING PLC (4,434) EUR (34,010.36) (12.22) GVC HOLDINGS (3,584) EUR (30,123.52) 743.68 H.LUNDBECK A/S (990) EUR (48,654.48) 0.95 HAMMERSON 7,167 EUR 46,892.72 16.96

303

UBI SICAV




Descrizione

Numero di contratti


Divisa

Utile / (perdita) Impegni non realizzata

(in EUR) HENDERSON GROUP PLC (1,437) EUR (41,715.90) (5.54) HENNES & MAURITZ AB 3,230 EUR 70,475.71 70.75 HEXAGON AB B 1,324 EUR 55,120.73 55.31 HEXPOL AB (3,751) EUR (35,852.82) (36.02) HISCOX LTD (3,321) EUR (47,920.73) (17.30) HOLCIM LTD /NAM. - EUR EQUVI. 895 EUR 44,985.66 31.69

HOWDEN JOINERY GROUP PLC - EQ EUR (12,042) EUR (55,831.29) (20.23)

HUSQVARNA AB -B- (4,712) EUR (40,997.30) (41.07) IG GROUP HOLDINGS PLC 11,297 EUR 73,078.46 26.41 IMPERIAL TOBACCO GROUP PLC (1,752) EUR (68,808.53) (24.83) INCHCAPE - EQ EUR (6,883) EUR (59,144.59) (21.68) INDIVIOR PLC 18,697 EUR 66,585.21 23.89 INDUSTRIVAERDEN AB A (2,084) EUR (46,467.52) (46.63) INFORMA PLC (10,955) EUR (83,467.32) (30.75) INT AIR GROUP (9,159) EUR (63,629.11) (22.60) INTERCONTINENTAL HOTELS GROUP 914 EUR 44,416.75 16.09 INTL PETROL (811) EUR (2,107.59) (2.15) INTU PROPERTIES PLC - EQ EUR 11,025 EUR 33,788.60 12.41 INVESTEC PLC 5,825 EUR 38,045.85 13.84 INVESTMENT AB KINNEVIK 3,115 EUR 83,509.12 83.81 ISS A/S 1,052 EUR 36,179.75 (0.74) IWG PLC (9,580) EUR (35,284.46) (12.82) J.SAINSBURY PLC 13,326 EUR 38,199.79 14.14 JOHNSON MATTHEY PLC (1,281) EUR (41,885.17) (15.17) KINGFISHER PLC 10,674 EUR 36,554.31 12.94 KUEHNE + NAGEL INTERNATIONAL (412) EUR (60,352.59) (42.55) LADBROKES PLC 21,535 EUR 28,082.03 11.16

304

UBI SICAV




Descrizione

Numero di contratti


Divisa

Utile / (Perdita) Impegni non realizzata

(in EUR) LEGAL & GENERAL GROUP PLC (22,399) EUR (65,891.74) (23.00) LLOYDS BANKING GROUP PLC 154,817 EUR 116,634.33 41.65 LOGITECH INTERNATIONAL SA 4,254 EUR 137,288.88 96.95 LONZA GROUP AG /NOM. 512 EUR 97,173.54 68.54 LSE GROUP (1,371) EUR (56,928.81) (20.66) MAN GROUP SHS - EQ EUR (37,639) EUR (66,357.03) (25.82) MARINE HARVEST ASA 4,336 EUR 64,853.80 35.80 MEGGITT PLC EQ EUR 15,464 EUR 83,989.92 29.68 MERLIN ENTERTAINMENTS PLC (14,763) EUR (80,787.83) (29.79) NCC AB B EQ EUR (1,621) EUR (39,985.75) (40.10) NESTLE SA (1,976) EUR (150,970.48) (106.44) NETS A/S (1,582) EUR (27,554.68) 0.60 NEW CARPHONE WAREHOUSE PLC 11,887 EUR 38,393.39 13.83 NEXT PLC 825 EUR 36,230.05 13.13 NIBE INDUSTRIER AB (4,807) EUR (39,750.15) (40.00) NORDEA BANK AB (11,418) EUR (127,235.80) (127.20) NOVARTIS AG BASEL/NAM. 2,709 EUR 197,920.44 139.60

OC OERLIKON CORPORATION SA/ NAM -EQ EUR

(6,913) EUR

(79,747.28) (56.29)

ORKLA AS A (5,448) EUR (48,384.12) (26.58) PANDORA A/S 464 EUR 37,912.58 (0.72) PEARSON PLC 5,036 EUR 39,660.29 14.38 PETROFAC LTD 6,845 EUR 34,456.70 12.66 PHOENIX GR HLDG (4,062) EUR (35,806.25) (13.12) PLAYTECH LIMITED (3,556) EUR (38,514.14) (14.04) POLYMETAL (3,089) EUR (30,289.98) (10.98) PSP SWISS PROPERTY/NAM. 400 EUR 32,813.06 23.14 QINETIC GROUP PLC (7,705) EUR (23,710.24) (8.89)

305

UBI SICAV




Descrizione

Numero di contratti


Divisa

Utile / (perdita) Impegni non realizzata

(in EUR) RENTOKIL INITIAL PLC - EQ EUR 12,430 EUR 38,689.11 14.41 RIGHT PHOENIX GR 08.11.16 (6) EUR (13.49) 0.16 ROYAL DUTCH SHELL PLC-A- (4,785) EUR (111,179.48) (0.01) ROYAL MAIL PLC 9,652 EUR 46,300.29 17.02 RPC GROUP PLC 3,692 EUR 31,619.68 11.36 SAAB AB B (2,659) EUR (114,983.67) (115.40) SANDVIK AB 4,192 EUR 57,737.99 57.75 SKANSKA B 3,864 EUR 80,292.39 80.77 SKF AB B 2,382 EUR 42,266.84 42.32 SMITH AND NEPHEW PLC (10,358) EUR (156,303.88) (56.56) ST.JAMES S PLACE PLC 4,335 EUR 58,355.87 21.08 STANDARD LIFE ORD GBP0.1222222 (32,709) EUR (148,671.24) (54.63) STOREBRAND AS /BUNDNA 5,594 EUR 33,725.54 18.89 SVENSKA HANDELSBANKEN AB 4,677 EUR 58,632.60 58.79 SWEDISH MATCH AB EQ EUR 1,697 EUR 52,338.81 52.54 SWEDISH ORPHAN BIOVITRUM AB (2,754) EUR (37,216.18) (37.46) SWISS LIFE HOLDING /NAM. 146 EUR 43,255.38 30.50 SWISSCOM /NAM. 154 EUR 65,237.75 46.01 TATE + LYLE PLC 708 EUR 5,337.89 1.91 TAYLOR WIMPEY PLC -EQ EUR 17,582 EUR 35,281.92 12.43 TDC 9,089 EUR 46,282.39 (0.62) TELE2 AK B (4,684) EUR (42,944.74) (43.05) TEMENOS GROUP AG /NAMEN. 488 EUR 38,244.79 26.97

EURTGS NOPEC GEOPHYSICAL CO EQ 3,405 EUR 60,979.11 33.70 THE SWATCH GROUP AG (354) EUR (114,764.60) (80.92) TP ICAP PLC 6,226 EUR 33,134.68 11.74 TRAVIS PERKINS PLC (3,856) EUR (63,896.63) (23.15)

306

UBI SICAV




Descrizione

Numero di contratti


Divisa

Utile / (perdita Impegni non realizzata

(in EUR)

TRELLEBORG B (4,060) EUR (81,157.72) (81.55)

TUI AG 3,033 EUR 38,564.60 (74.30)

VESTAS WIND SYSTEMS AS / REG 707 EUR 57,149.57 (1.13)

VICTREX PLC EQ EUR (1,496) EUR (31,962.62) (11.50)

VOLVO B (9,192) EUR (137,211.01) (138.07)

WEIR GROUP PLC 2,123 EUR 41,852.85 15.10

WH SMITH PLC 1,728 EUR 33,750.94 12.26

WHITBREAD PLC 858 EUR 38,763.90 14.05

WILLIAM DEMANT HOLDING A/S (2,034) EUR (46,096.71) 0.85

WILLIAM HILL PLC EQ EUR 11,211 EUR 32,456.21 11.58

WORLDPAY GROUP PLC 11,122 EUR 39,874.53 14.39

YARA INTERNATIONAL ASA EQ EUR (1,437) EUR (47,167.92) (25.99)

399.49

Al 30 giugno 2017, i seguenti CFD erano attivi per il comparto UBI SICAV - Global Multiasset 30.

Descrizione

Numero di contratti


Utile / (perdita Divisa Impegni non realizzata

(in EUR) S&P 500 FIN 8,322 USD 5,534,524.46 89,252.66 S&P 500 HCA 6,076 USD 8,160,371.80 185,771.55 S&P 500 MAT (23,792) USD (13,240,723.84) 132,861.44 S&P 500 UTI (11,476) USD (7,588,849.28) 164,790.81 SPTRCOND -S&P 500 CONS DIS SEC (5,307) USD (5,137,865.91) 22,836.34 SPTRENRS - S&P 500 ENERGY TR 15,902 USD 12,976,668.08 (203,045.69)

392,467.11

307

UBI SICAV



Al 30 giugno 2017, i seguenti CFD erano attivi per il comparto UBI SICAV - Income Opportunities.

Descrizione

Numero di contratti


Perdita Divisa Impegni non realizzata

(in EUR) RUSSELL 1000 GROWTH 5,010 EUR 5,236,290.21 (104,504.06) RUSSELL 1000 VALUE 5,087 EUR 5,083,762.06 (107,692.87) RUSSELL 2000 INDEX 3,745 EUR 4,647,336.44 (96,244.97)

(308,441.90)

Nota 13 - Swaption

Al 30 giugno 2017, il comparto UBI SICAV - Protezione e Crescita 2017 ha stipulato il seguente contratto di swaption:

- Acquisto di Equity Swap Option Call Fut-Derivativo Protezione E Crescita scad. 04/08/2017 strike 0 per un valore nominale di EUR 3,156,154.

La SICAV riceve garanzie, che possono essere in contanti o obbligazioni, per un importo pari al fair value del contratto di Equity Swap.

Nota 14 – Contratti di Swap

Al 30 giugno 2017, il comparto UBI SICAV - Global Dynamic Allocation ha stipulato i seguenti contratti di Swap sui Tassi d’Interesse:

Nozionale Divisa Sottostante/ Attivo/Passivo Data di scadenza Controparte Netto non realizz. emittente (ammortamento)

EUR

25,000,000 USD IT0000366655 Attivo 04/01/2023 UBS AG LDN (228,990.88) (228,990.88)

I contratti di Total Return Swap prevedono lo scambio di garanzie con le controparti sulla base del fair value dei contratti; le garanzie possono essere sottoforma di contanti, azioni o obbligazioni.

Al 30 giugno 2017, il comparto UBI SICAV - Beta Neutral ha stipulato i seguenti contratti di Total Return Swap:

Nozionale Divisa Sottostante/ Attivo/Passivo Data di scadenza Controparte Netto non realizz. emittente apprezzamento

EUR

18,749,884 EUR MLEIUBSS Attivo 03/11/2017 MERRIL GBP 605,124.61 605,124.61


Al 30 giugno 2017, il comparto UBI SICAV - Protezione Mercati Emergenti ha stipulato i seguenti contratti di Total Return Swap:

Nozionale Divisa Sottostante/ Attivo/Passivo Data di scadenza Controparte Netto non realizz. emittente apprezzamento

EUR

63,462,891 EUR MSUBIEMV Index Attivo 27/05/2020 MSCI LONDON 343,008.00 343,008.00


308

UBI SICAV


Nota 14 – Contratti di Swap (segue)

Al 30 giugno 2017, il comparto UBI SICAV - Income Opportunities ha stipulato i seguenti contratti di Total Return Swap:

Nozionale Divisa Sottostante/ Attivo/Passivo Data di scadenza Controparte Netto non realizz. emittente apprezzamento/

(ammortamento) EUR

17,454,054 EUR MLEIUB3S Attivo 23/07/2017 MERRIL GBP 42,199.86 6,913,712 EUR JHLXH2EU Attivo 02/08/2017 JPM SEC PLC (110,869.05)

16,223,010 EUR JTRDFXE2 Attivo 02/08/2017 JPM SEC PLC 189,750.00 18,741,980 GBP MLEIUBIB Attivo 26/07/2017 MERRIL GBP (353,851.79) 22,487,035 EUR CGDOSXUB Attivo 05/03/2018 CITI NA LDN (571,109.27) 60,000,000 EUR SGMDURPP Attivo 23/07/2017 SG PARIS (312,000.00)

(1,115,880.25)


Al 30 giugno 2017, il comparto UBI SICAV - Globo (Global Bond) ha stipulato i seguenti contratti di credit default swap: Acquisto/ Nozionale Divisa Spread Sottostante/ Data di scadenza Controparte Netto non realizz.

Vendita (in %) emittente apprezzamento/ (ammortamento)

EUR

ACQ. 100,000 USD 1 MARKIT CDX.NA.IG.27 12/21 20/12/2021 JPMClear -DCM (1,801.76) VEND. 2,500,000 EUR 5 MARKIT ITRX EUR XOVER 06/22 20/06/2022 JPMClear -DCM 287,984.73 VEND. 2,000,000 USD 5 MARKIT CDX.NA.HY.28 06/22 20/06/2022 JPMClear -DCM 121,123.68

407,306.65

I contratti di swap contracts prevedono lo scambio di garanzie con le controparti sulla base del fair value dei contratti; le garanzie possono essere sottoforma di contanti, azioni o obbligazioni.

Nota 15 - Distribuzioni

Nel corso del periodo chiuso al 30 giugno 2017, la SICAV ha distribuito i seguenti dividendi:

Comparto Classe di unità

UBI SICAV - EURO FIXED INCOME C UBI SICAV - EURO FIXED INCOME C UBI SICAV - GLOBAL EQUITY C UBI SICAV - EURO CORPORATE BOND C UBI SICAV - EURO CORPORATE BOND C UBI SICAV - HIGH YIELD BOND A UBI SICAV - HIGH YIELD BOND C UBI SICAV - GLOBAL CORPORATE BOND C UBI SICAV - GLOBAL CORPORATE BOND C UBI SICAV - EURO EQUITY HIGH DIVIDEND C UBI SICAV - EMERGING MARKETS BOND C UBI SICAV - EMERGING MARKETS BOND C UBI SICAV - GLOBAL DYNAMIC ALLOCATION A UBI SICAV - GLOBAL DYNAMIC ALLOCATION B UBI SICAV - GLOBAL DYNAMIC ALLOCATION C UBI SICAV - GLOBAL DYNAMIC ALLOCATION C UBI SICAV - MULTIASSET EUROPE 50 A UBI SICAV - GLOBAL HIGH YIELD EURO HEDGED C UBI SICAV - GLOBAL MULTIASSET 30 C UBI SICAV - GLOBAL MULTIASSET 30 C UBI SICAV - INCOME OPPORTUNITIES C UBI SICAV - INCOME OPPORTUNITIES C UBI SICAV - EUROPEAN EQUITY C UBI SICAV - GLOBAL STARS A UBI SICAV - GLOBAL STARS B UBI SICAV - GLOBAL STARS C UBI SICAV - GLOBAL STARS C UBI SICAV - SOCIAL 4 FUTURE A UBI SICAV - SOCIAL 4 FUTURE C UBI SICAV - GLOBAL MULTIASSET 15 C UBI SICAV - EURO CORPORATE BOND HIGH POTENTIAL C

Dividendo Numero di Data Divisa per classe azioni

di azione Circolanti

01/02/2017 EUR 0.019 294,949.713 04/03/2017 EUR 0.006 308,847.951 03/01/2017 EUR 0.038 141,306.305 01/02/2017 EUR 0.025 664,035.663 04/03/2017 EUR 0.013 658,329.390 04/18/2017 EUR 0.200 162,541,413.115 03/01/2017 EUR 0.033 419,519.557 01/02/2017 EUR 0.025 782,635.458 04/03/2017 EUR 0.013 811,062.832 03/01/2017 EUR 0.035 303,512.590 02/01/2017 EUR 0.032 269,730.432 05/02/2017 EUR 0.032 313,445.579 01/13/2017 EUR 0.060 36,242,147.045 01/13/2017 EUR 0.239 91,586,891.156 02/01/2017 EUR 0.024 916,499.265 05/02/2016 EUR 0.024 970,060.971 03/14/2017 EUR 0.250 82,483,516.182 03/01/2017 EUR 0.032 1,585,722.890 02/01/2017 EUR 0.018 1,107,958.237 05/02/2017 EUR 0.018 1,221,633.974 02/01/2017 EUR 0.011 406,994.389 05/02/2017 EUR 0.011 401,605.423 03/01/2017 EUR 0.035 34,327.829 03/28/2017 EUR 0.100 135,785,386.936 03/28/2017 EUR 0.100 27,045,326.801 02/01/2017 EUR 0.019 14,515.617 05/02/2017 EUR 0.019 61,200.575 03/28/2017 EUR 0.100 51,420,317.900 04/03/2017 EUR 0.013 68,932.549 04/03/2017 EUR 0.013 289,901.221 03/01/2017 EUR 0.019 111,743.770

Totale imp. Distribuito

5,604.04 1,853.09 5,369.64

16,600.89 8,558.28

32,508,282.62 13,844.15 19,565.89 10,543.82 10,622.94 8,631.37

10,030.26 2,174,528.82

21,889,266.99 21,995.98 23,281.46

20,620,879.05 50,743.13 19,943.25 21,989.41 4,476.94 4,417.66 1,201.47

13,578,538.69 2,704,532.68

275.80 1,162.81

5,142,031.79 896.12

3,768.72 2,123.13

309

UBI SICAV


Nota 16 - Investimento in Comparti Incrociati

Al 30 giugno 2017, i comparti UBI SICAV - Euro Fixed Income, UBI SICAV - Euro Equity, UBI SICAV - Active Beta, UBI SICAV - Global Dynamic Allocation, UBI SICAV - Focus Italia, UBI SICAV - Multiasset, Europe 50, UBI SICAV - Global Multiasset 30, UBI SICAV - Income Opportunities, UBI SICAV - Global Stars, UBI SICAV - Global Multiasset 15, UBI SICAV - Obiettivo Stabilita and UBI SICAV - Obiettivo Controllo hanno investito nei seguenti comparti:

% di patrim. netto

Comparto Investimenti Incrociati Divisa Quantità Valore di Mercato totale

UBI SICAV - Euro Fixed Income Ubi Sicav Euro Corp Sh Term I EUR 514,000.00 3,002,274.00 2.54% Ubi Sicav Euro Corp. Bond I EUR 1,700,000.00 13,579,600.00 11.51% Ubi Gl Infl Lkd -I-Cap EUR 300,000.00 1,480,500.00 1.26%

UBI SICAV - Euro Equity Ubi Sicav Euro Eq. High Div. I EUR 1,000,000.00 7,232,000.00 1.20% Ubi Sicav L/S Eur -I- /Cap EUR 771,903.00 3,993,054.22 0.66% Ubi It Mc Eq -I- Cap EUR 400,000.00 1,972,400.00 0.33%

UBI SICAV - Active Beta Ubi Sicav High Yield Bond I EUR 102,329.00 1,164,811.01 3.25%

UBI SICAV - Global Dynamic Allocation Ubi Eu Eq -I- Cap /Eur EUR 400,000.00 1,969,600.00 0.25%

Ubi Ital Eq -I- Cap EUR 400,000.00 2,237,600.00 0.28% Ubi Euro Hy -I- Cap EUR 1,600,000.00 8,006,400.00 1.00% Ubi It Mc Eq -I- Cap EUR 400,000.00 1,972,400.00 0.24%

UBI SICAV - Focus Italia Ubi Eurcorbdhp -I- Eur /Cap EUR 250,000.00 1,277,250.00 4.94%

UBI SICAV - Multiasset Europe 50 Ubi Sicav Euro Corp Sh Term I EUR 2,925,000.00 17,084,925.00 4.24% Ubi Sicav Euro Corp. Bond I EUR 3,000,000.00 23,964,000.00 5.94% Ubi Gl Infl Lkd -I-Cap EUR 300,000.00 1,480,500.00 0.37%

UBI SICAV - Global Multiasset 30 Ubi Eu Eq -I- Cap /Eur EUR 400,000.00 1,969,600.00 0.22% Ubi Ital Eq -I- Cap EUR 400,000.00 2,237,600.00 0.24% Ubi Euro Hy -I- Cap EUR 1,000,000.00 5,004,000.00 0.55% Ubi It Mc Eq -I- Cap EUR 400,000.00 1,972,400.00 0.22%

UBI SICAV - Income Opportunities Ubi Eurcorbdhp -I- Eur /Cap EUR 12,100,470.00 61,821,301.23 7.39% Ubi Ital Eq -I- Cap EUR 217,249.00 1,215,290.91 0.15% Ubi Sicav Active Beta /-I- Cap EUR 1,632,529.00 8,892,385.46 1.06% Ubi Sicav Be Neu -I- /Cap EUR 1,275,483.00 5,904,210.81 0.71% Ubi Sicav Euro Eq. High Div. I EUR 121,240.00 876,807.68 0.10% Ubi Sicav Euro Eq. I EUR 92,557.00 681,682.31 0.08% Ubi Sicav L/S Eur -I- /Cap EUR 1,405,351.00 7,269,880.72 0.87% Ubi Euro Hy -I- Cap EUR 3,041,002.00 15,217,174.01 1.82%

UBI SICAV - Global Stars Ubi Sicav Euro Eq. High Div. I EUR 334,100.00 2,416,211.20 0.19% Ubi Sicav Euro Eq. I EUR 1,776,600.00 13,084,659.00 1.03% Ubi Sicav High Yield Bond I EUR 2,042,752.00 23,252,651.30 1.83%

UBI SICAV - Global Multiasset 15 Ubi Euro Hy -I- Cap EUR 1,400,000.00 7,005,600.00 0.80% Ubi It Mc Eq -I- Cap EUR 400,000.00 1,972,400.00 0.23%

UBI SICAV - Obiettivo Stabilita Ubi Euro Hy -I- Cap EUR 1,500,000.00 7,506,000.00 0.86% Ubi Gl Infl Lkd -I-Cap EUR 1,620,000.00 7,994,700.00 0.92%

UBI SICAV - Obiettivo Controllo Ubi Sicav Euro Corp. Bond I EUR 1,700,000.00 13,579,600.00 2.17% Ubi Euro Hy -I- Cap EUR 700,000.00 3,502,800.00 0.56% Ubi Gl Infl Lkd -I-Cap EUR 540,000.00 2,664,900.00 0.42%

286,459,168.86 I dati relative a ciascun Comparto sono presentati in EUR, vale a dire la divisa per tutti i comparti; i bilanci aggregati sono presentati a solo scopo informativo.

310

UBI SICAV


Nota 17 – Variazioni di Portafoglio

Su richiesta da inoltrare alla Sede Legale della SICAV, è disponibile gratuitamente una copia del prospetto delle variazioni di portafoglio al 30 giugno 2017.

Nota 18 – Eventi avvenuti nel periodo

In data 16 maggio 2017, la SICAV ha istituito il comparto denominato UBI SICAV - Italian Mid Cap Equity.

In data 26 maggio 2017, la SICAV ha istituito i nuovi comparti denominati UBI SICAV - Global Inflation Linked and UBI SICAV - Euro High Yield.

In data 6 giugno 2017, la SICAV ha istituito il nuovo comparto denominato UBI SICAV - Strategic Bond.

In data 16 dicembre 2016, gli Amministratori di UBI SICAV (la "Società") hanno stabilito che il comparto UBI SICAV - Cedola Certa 2012-2015 sarà convertito in un comparto liquidità, come previsto nel Prospetto Informativo, senza alcuna variazione di denominazione.

311

UBI SICAV

Informativa agli Investitori (appendice) REGOLAMENTO (UE) 2015/2365 DEL PARLAMENTO EUROPEO E DEL CONSIGLIO del 25 Novembre 2015

Trasparenza delle Operazioni di Finanziamento tramite Titoli per il Riutilizzo della Garanzia che modifica il Regolamento (UE) N˚648/2012

La SICAV ha stipulato un programma di prestito titoli con RBC Investor Services Trust e RBC Investor Services Bank. Al 30 giugno 2017, il valore di mercato dei titoli dati in prestito e delle garanzie ricevute è il seguente:

Prestito Titoli

Dati Globali in (EUR)

Comparto Garanzia Valore di Mercato Patrimonio netto totale (%) di attività

UBI SICAV - Euro Fixed Income 25,962,307 25,453,229 117,983,091 21.57

UBI SICAV - Euro Equity 96,918,141 92,302,923 602,687,457 15.32

UBI SICAV - USA Equity 70,079,934 66,742,712 347,066,495 19.23

UBI SICAV - Asia Pacific Equity 23,239,950 22,133,132 309,232,451 7.16

UBI SICAV - Emerging Markets Equity 32,689,287 31,132,593 509,284,558 6.11

UBI SICAV - Global Equity 50,602,754 48,192,635 513,645,182 9.38

UBI SICAV - Euro Corporate Bond 42,315,077 41,485,365 237,470,699 17.47

UBI SICAV - High Yield Bond 51,638,674 50,626,129 904,961,518 5.59

UBI SICAV - Short Term EUR 469,973 460,754 107,367,141 0.43

UBI SICAV - Euro Liquidity Plus 845,735 829,151 204,887,785 0.40

UBI SICAV - Active Beta 2,069,869 2,029,283 35,859,702 5.66

UBI SICAV - Global Corporate Bond 1,797,538 1,762,290 153,084,524 1.15

UBI SICAV - Euro Corporate Short Term 71,210,320 69,814,035 1,080,119,876 6.46

UBI SICAV - Euro Equity High Dividend 14,617,086 13,920,946 79,948,872 17.41

UBI SICAV - Global Dynamic Allocation 45,130,719 42,983,361 803,513,743 5.35

UBI SICAV - Beta Neutral 3,310,911 3,153,148 23,727,502 13.29

UBI SICAV - Long/Short Euro 4,388,995 4,179,983 40,951,699 10.21

UBI SICAV - Cedola Mercati Emergenti 941,947 923,475 280,869,766 0.33

UBI SICAV - Multiasset Europe 50 45,786,894 43,942,850 403,370,187 10.89

UBI SICAV - Global Multiasset 30 29,520,952 28,224,892 911,347,229 3.10

UBI SICAV - Italian Equity 27,793,190 26,469,649 314,058,593 8.43

UBI SICAV - European Equity 18,005,102 17,147,655 135,224,517 12.68

UBI SICAV - Social 4 Future 37,368,972 36,480,405 376,642,405 9.69

Total 696,704,326 670,390,594 8,493,304,991

312

UBI SICAV

Informativa agli Investitori (appendice) (segue) Dati Globali in (EUR) (segue)

Comparto

Portafoglio di Valore di investimento al Mercato valore di mercato

(%) attività prestabili

UBI SICAV - Euro Fixed Income 25,453,229 115,550,543 22.03

UBI SICAV - Euro Equity 92,302,923 595,155,185 15.51

UBI SICAV - USA Equity 66,742,712 345,288,066 19.33

UBI SICAV - Asia Pacific Equity 22,133,132 305,623,437 7.24

UBI SICAV - Emerging Markets Equity 31,132,593 502,484,270 6.20

UBI SICAV - Global Equity 48,192,635 509,107,424 9.47

UBI SICAV - Euro Corporate Bond 41,485,365 230,261,274 18.02

UBI SICAV - High Yield Bond 50,626,129 875,719,669 5.78

UBI SICAV - Euro Liquidity Plus 829,151 180,363,849 0.46

UBI SICAV - Short Term EUR 460,754 93,491,463 0.49

UBI SICAV - Active Beta 2,029,283 33,086,922 6.13

UBI SICAV - Global Corporate Bond 1,762,290 146,137,113 1.21

UBI SICAV - Euro Corporate Short Term 69,814,035 1,056,539,752 6.61

UBI SICAV - Euro Equity High Dividend 13,920,946 75,392,415 18.46

UBI SICAV - Global Dynamic Allocation 42,983,361 775,205,441 5.54

UBI SICAV - Beta Neutral 3,153,148 21,950,204 14.37

UBI SICAV - Long/Short Euro 4,179,983 38,488,819 10.86

UBI SICAV - Cedola Mercati Emergenti 923,475 270,778,493 0.34

UBI SICAV - Multiasset Europe 50 43,942,850 391,929,511 11.21

UBI SICAV - Global Multiasset 30 28,224,892 864,063,037 3.27

UBI SICAV - Italian Equity 26,469,649 310,607,226 8.52

UBI SICAV - European Equity 17,147,655 133,166,942 12.88

UBI SICAV - Social 4 Future 36,480,405 364,176,925 10.02

Total 670,390,594 8,234,567,980

Dati di concentrazione in (EUR)

I dieci maggiori emittenti di garanzie

Importo Garanzia

UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND 149,996,867

FRENCH REPUBLIC 37,451,901

UNITED STATES OF AMERICA 34,852,095

JAPAN 23,752,912

FEDERAL REPUBLIC OF GERMANY 21,099,694

PROVINCE OF ONTARIO 19,406,405

LAND BERLIN 14,796,075

CANADA MORTGAGE & HOUSING CORP CMHC 13,471,916

REPUBLIC OF FINLAND 13,282,044

EUROPEAN INVESTMENT BANK EIB 12,548,842

313

UBI SICAV

Informativa agli Investitori (appendice) (segue) Dati di concentrazione in (EUR) (segue)

Le 10 principali controparti Importo Garanzia

HSBC BANK PLC 120,993,794

NATIXIS 73,997,685

UNICREDIT BANK AG 65,077,066

NATIONAL BANK FINANCIAL INC. 39,889,693

ABBEY NATIONAL TREASURY SERVICES P 32,669,670

RBC DOMINION SECURITIES INC 29,207,526

BARCLAYS CAPITAL SECURITIES LTD 24,358,857

UBS AG 23,322,184

DANSKE BANK A/S 22,038,419

SCOTIA CAPITAL INC. 17,959,872

I dati aggregati delle operazioni per ciascun tipo di SFT devono essere ripartiti secondo le seguenti categorie in (EUR)

Tipo di Garanzia

Importo f Garanzia

OBBLIGAZIONI 449,901,419

AZIONI 246,802,907

MERCATO MONETARIO -

CONTANTI -

Totale 696,704,326

Qualità della Garanzia

Importo Garanzia

N/A -

Scadenza della Garanzia

Importo Garanzia

Meno di un giorno -

Da un giorno a una settimana 274,758

Da una settimana a un mese 4,487,073

Da un mese a tre mesi 8,094,820

Da tre mesi a un anno 59,399,767

Oltre un anno 376,983,128

Scadenza indeterminata 247,464,781

Totale 696,704,326

Divise della Garanzia in contanti

Importo Garanzia

N/A -

314

UBI SICAV

Informativa agli Investitori (appendice) (segue) I dati aggregati delle operazioni per ciascun tipo di SFT devono essere ripartiti secondo le seguenti categorie in (EUR) (segue)

Divise della Garanzia in Titoli Importo Garanzia

EUR 220,505,386

GBP 213,814,425

CAD 121,164,789

USD 81,600,659

JPY 36,456,024

CHF 10,162,371

AUD 7,177,845

DKK 3,502,558

NOK 1,601,593

SEK 718,677

Total 696,704,326

Scadenza degli SFT Valore globale Meno di un giorno -

Da un giorno a una settimana -

Da una settimana a un mese -

Da un mese a tre mesi -



Operazione aperta 425,663,070

Totale 670,390,594

Paese in cui hanno sede le controparti Valore globale REGNO UNITO 308,067,827

FRANCIA 114,444,815

GERMANIA 78,448,349

CANADA 56,915,752

IRLANDA 25,027,808

SVIZZERA 23,322,184

DANIMARCA 22,038,419

STATI UNITI D’AMERICA 16,346,358

SPAGNA 15,986,210

AUSTRALIA 4,737,968

SVEZIA 4,369,365

PAESI BASSI 685,540

Totale 670,390,594

Regolamento e compensazione Valore globale

Bilaterale 670,390,594

Totale 670,390,594

Dati sul Riutilizzo della Garanzia:

Quota di garanzia ricevuta riutilizzata -

Rimborsi di garanzie in contanti all'organismo di investimento collettivo -

315

UBI SICAV

Informativa agli Investitori (appendice) (segue) Custodia delle garanzie ricevute dall'organismo di investimento collettivo nell'ambito delle SFT in (EUR)

Importo del

Nomi dei depositari titolo in garanzia custodito

RBC IS TRUST 696,704,326

Tipo di conti

Conti segregati

Dati sui rendimenti e sul costo per ciascun tipo di SFT in (EUR)

Comparto

Ricavo Lordo

Ricavo RBC I&TS

Ricavo del cliente Ritenuta

(al netto imposte)

UBI SICAV - Euro Fixed Income 40,995 8,199 - 32,796

UBI SICAV - Euro Equity 813,217 162,643 1 650,573

UBI SICAV - USA Equity 46,558 9,312 285 36,961

UBI SICAV - Asia Pacific Equity 71,222 14,244 2,913 54,065

UBI SICAV - Emerging Markets Equity 32,222 6,444 99 25,679

UBI SICAV - Global Equity 118,180 23,636 2 94,543

UBI SICAV - Euro Corporate Bond 46,370 9,274 - 37,096

UBI SICAV - High Yield Bond 198,552 39,710 - 158,842

UBI SICAV - Short Term EUR 763 153 - 610

UBI SICAV - Euro Liquidity Plus 1,487 297 - 1,190

UBI SICAV - Active Beta 325 65 - 260

UBI SICAV - Global Corporate Bond 1,381 276 - 1,105

UBI SICAV - Euro Corporate Short Term 81,108 16,222 - 64,886

UBI SICAV - Euro Equity High Dividend 121,546 24,309 - 97,236

UBI SICAV - Emerging Market Bond 65 13 - 52

UBI SICAV - Global Dynamic Allocation 257,386 51,477 56 205,853

UBI SICAV - Beta Neutral 9,585 1,917 - 7,668

UBI SICAV - Long/Short Euro 50,458 10,092 - 40,366

UBI SICAV - Cedola Mercati Emergenti 6,808 1,362 - 5,446

UBI SICAV - Multiasset Europe 50 346,626 69,325 - 277,301

UBI SICAV - Global Multiasset 30 295,389 59,078 - 236,311

UBI SICAV - Italian Equity 468,448 93,690 - 374,758

UBI SICAV - European Equity 182,586 36,517 146,069

UBI SICAV - Social 4 Future 48,062 9,612 38,450

Totale 3,239,340 647,868 3,357 2,588,115

316

UBI SICAV

Informativa agli Investitori (appendice) (segue) REGOLAMENTO (EU) 2015/2365 DEL PARLAMENTO EUROPEO E DEL CONSIGLIO del 26 Novembre 2015

Trasparenza delle Operazioni di Finanziamento tramite Titoli per il Riutilizzo della Garanzia che modifica il Regolamento (UE) N˚648/2012

The SICAV ha stipulato i seguenti contratti di Total Return Swap:

Total Return Swap

Dati Globali in (EUR)

Comparto Garanzia Valore globale Patrim. netto totale (%) di attività

UBI SICAV - Beta Neutral - 605,125 23,727,502 2.55

UBI SICAV - Protezione Mercati Emergenti 8,992,631 343,008 90,006,080 0.38

UBI SICAV - Income Opportunities 3,007,577 (1,115,880) 835,979,355 (0.13)

Total 12,000,208 (167,748) 949,712,937

Dati di concentrazione in (EUR)

I dieci maggiori emittenti di garanzie

Amount of Collateral

CONTROLADORA VUELA COMPANIA DE AVIACION SAB DE CV 8,697,857

UNITED STATES OF AMERICA 2,214,732

FEDERAL REPUBLIC OF GERMANY 1,684,560

FRENCH REPUBLIC 1,047,306

VIPSHOP HOLDINGS LTD 294,775

UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND 29

Le 10 principali controparti Overall valuation

CITI NA LDN (571,109)

JPM SEC PLC 78,881

MERRIL GBP 293,473

MSCI LDN 343,008

SG PARIS (312,000)

Totale (167,748)

Dati aggregati delle operazioni per i Total Return Swap ripartiti secondo le seguenti categorie in (EUR)

Tipo di Garanzia

Importo Garanzia

OBBLIGAZIONI 4,946,628

AZIONI 8,992,631

MERCATO MONETARIO -

CONTANTE 8,922,107

Totale 22,861,366

Qualità della Garanzia Importo Garanzia

317

UBI SICAV

Informativa agli Investitori (appendice) (segue) Dati aggregati delle operazioni per i Total Return Swap ripartiti secondo le seguenti categorie in (EUR) (segue)

Scadenza della Garanzia Importo Garanzia

Meno di un giorno -

Da un giorno a una settimana 283,865





Scadenza indeterminata 17,914,739

Totale 22,861,366

Divise della Garanzia in Contanti

Importo Garanzia

EUR 8,922,107

Totale 8,922,107

Divise della Garanzia in Titoli

Importo Garanzia

USD 11,207,364

EUR 2,731,866

GBP 29

Totale 13,939,259

Scadenza dei Total Return Swap Valore globale Meno di un giorno -

Da un giorno a una settimana -



Da tre mesi a un anno -

Oltre un anno -

Operazione aperta (167,748)

Totale (167,748)

Paese in cui hanno sede le controparti Valore globale FRANCIA (312,000)

REGNO UNITO 65,371

STATI UNITI D’AMERICA 78,881

Totale (167,748)

Regolamento e Compensazione Valore globale

Bilaterale (167,748)

Totale (167,748)

Dati sul Riutilizzo della Garanzia:

Riutilizzo della Garanzia

Importo Garanzia

Quota di garanzia ricevuta riutilizzata None

Rimborsi di garanzie in contanti all'organismo di investimento collettivo None

318

UBI SICAV

Informativa agli Investitori (appendice) (segue) Custodia delle garanzie ricevute dall'organismo di investimento collettivo nell'ambito dei Total Return Swap in (EUR)

Importo del

Nomi dei depositari titolo in garanzia custodito

RBC INVESTOR SERVICES BANK S.A. 22,861,366

Custodia delle garanzie ricevute dall'organismo di investimento collettivo nell'ambito dei Total Return Swap in (EUR) Tipo di Conti

Conti segregati

Dati sui rendimenti e sul costo per ciascun tipo di Total Return Swap in (EUR)

Altre Informazioni

La suddetta comunicazione dei dati relativi alle garanzie Total Return Swap (TRS) riporta la situazione completa delle garanzie collaterali per tutti i contratti OTC per qualsiasi Controparte della SICAV. Come normale prassi del mercato globale, il processo di collateralizzazione è effettuato sulll'esposizione netta di OTC.

319

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