June 2009




Simplified prospectus
UBS (CH) Equity Fund – Global Materials

Contractually based investment fund under Swi...
Benchmark                                    MSCI World Materials (r)
                                  EU savings tax    ...
June 2009
Simplified prospectus
UBS (CH) Equity Fund – Global Materials


Unit classes                        The fund is ...
June 2009
Simplified prospectus
UBS (CH) Equity Fund – Global Materials


Fee-sharing agreements          There are no fee...
June 2009
Simplified prospectus
UBS (CH) Equity Fund – Global Materials


ISSUE AND REDEMPTION OF FUND UNITS

Swinging sin...
June 2009
Simplified prospectus
UBS (CH) Equity Fund – Global Materials


Life (of investment fund)   unlimited

Promoter ...
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Simplified prospectus UBS (CH) Equity Fund – Global Materials

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  1. 1. June 2009 Simplified prospectus UBS (CH) Equity Fund – Global Materials Contractually based investment fund under Swiss law (Category Securities Funds) Fund management company: UBS Fund Management (Switzerland) AG Custodian bank: UBS AG This simplified prospectus contains a summary of the key information about the investment fund. The detailed prospectus including the fund con- tract governs the legal and economic aspects definitively. These include such aspects as the rights of investors, the duties and obligations of the fund management company and the custodian bank and the investment policy of the fund. Investors are advised to consult the detailed prospectus. The annual and semi-annual reports provide information about the capital account and income statement. These documents are available free of charge from the fund management company, the custodian bank and all distributors. INVESTMENT INFORMATION Investment objective The investment objective of UBS (CH) Equity Fund – Global Materials is principally to secure an optimum total return consistent with the performance of the market for companies in the metals & mining, chemicals, construction materials, paper and container & packaging sectors. Investment strategy This fund invests its assets primarily in equities of companies from the metals & (investment policy) mining, chemicals, construction materials, paper and container & packaging sec- tors that operate mainly in the exploration, mining, processing, transportation, distribution and/or marketing of metals, chemicals, construction materials, pack- aging and paper, or that, as financing, investment or holding companies, operate mainly in these areas, according to the principle of risk distribution. Investments are mainly focused on the metals & mining and chemicals sectors, with a second- ary focus on construction materials, paper, containers and packaging. The fund also invests in derivatives, collective investments and structured products, with the fund management company ensuring that, on a consolidated basis, at least two-thirds of the total fund assets are invested in the aforementioned invest- ments. The fund may also invest its assets in other investments as permitted under the fund contract and engage in securities lending. Derivative financial instruments can be used to ensure that the fund’s assets are managed efficiently. The use of derivatives is part of the investment strategy. Currency of account: US dollar (USD) Risk profile of the fund The investment fund’s main risks are as follows: The net asset value of the fund’s investments is geared towards their respective market values. The net asset value can fluctuate substantially depending on the general stock market trend and the performance of securities held in the portfo- lio. A fall in the net asset value over a considerable period cannot be ruled out. There is no guarantee that investors will achieve a specific return, or that they will be able to submit units to the fund management company for redemption at a specific price. Page 1/6
  2. 2. Benchmark MSCI World Materials (r) EU savings tax not affected Securities no. 260 969 ISIN CH0002609698 June 2009 Simplified prospectus Bloomberg 1 UBSNARI SW Following the realignment of the UBS investment fund range, asset UBS (CH) Equity Fund – Global Materials allocation for this fund was adjusted with effect from 5.2.2007. As a result, past performance data may no longer be used to give meaningful comparisons. All performance details thus refer to the date of the repositioning. 2 Up to 31.1.2006, MSCI benchmark with gross dividends reinvested, from 1.2.2006 with net dividends reinvested. Portfolio statistics Risk profile of the fund Due to the projected use of derivatives, this fund qualifies as a “simple securities 2 years 3 years 5 years fund”. Commitment approach II (extended procedure) shall be used for the meas- Beta 1.05 – – urement of risk. Both leverage and–short-selling are permitted. A fund’s total Correlation 0.9914 – Volatility* investments may amount to up to 200% of its net assets (or 210% if borrowing is – Fund 39.24% – – factored into the calculation). The fund management company shall ensure that – benchmark 37.08% 31.09% 26.13% the useratio** Sharpe of derivatives does not alter the investment objectives as stated in this -0.57 – – simplified prospectus, the fund contract and–the prospectus, or the investment Tracking error (ex post) 5.46% – profile ofstandard deviation; **Riskexceptional market circumstances. *Annualised the fund even in free rate 2.18% Current data Besides market risk, derivatives are also subject to counterparty risk, i.e. the risk Net asset value 30.4.2009 USD 741.85 that the contracting party is unable to meet its obligations and causes a financial – high last 12 months USD 1 642.00 loss as a result. – low last 12 months USD 501.41 Fund assets in m USD 57.78 Last distribution 13.1.2009 USD 16.47 1 The detailed prospectus contains more specific information about the risks 1 May deviate for noted here. clients domiciled outside Switzerland. Performance Performance (USD-based) The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units. Performance (basis USD, net of fees) 160 Indexed Fund structure by the 10 largest equity in % Fund structure by country weights (%) +30 positions (%) 23.1% 140 United States +20 25.0% Fund BM United Kingdom 18.5% 120 Billiton Plc BHP 8.81 4.37 +10 14.4% Canada 12.9% 100Tinto Plc Rio 5.45 3.85 0 11.7% 10.8% Germany Monsanto Co 4.85 4.37 6.4% 80 –10 Japan 6.5% BASF SE 4.48 3.28 13.9% 60 BHP Billiton Ltd 4.10 7.70 –20 3.3% Switzerland 6.3% 40 Xstrata PLC 3.88 1.61 –30 Australia 6.1% 12.4% Syngenta AG 20 3.85 1.96 Luxembourg 0.0%3.5% –40 Goldcorp Inc 3.83 1.88 Sweden 0.9% 3.4% 0 –50 ArcelorMittal 3.48 1.95 Others 8.9% 12.0% Praxair Inc 3.45 2.16 –60 0 5 10 15 20 25 30 2007 2008 2009 Fund Benchmark (BM) Indexed performance (left-hand scale) Performance per year (right-hand scale) Performance (net of fees) These figures refer to the past.2007 performance is not April in % 2005 2006 Past 2008 2009 a since Ø p.a. reliable indicator of future results. The performance YTD1 2009 5.2.07 2 years shown does not– take account of–any commissions and 12.53 -31.19 -20.35 Fund (USD) – -52.19 10.65 costs charged when subscribing –to and redeeming units. Benchmark2 – – -50.05 9.72 13.50 – -19.50 Source forcurrency of account chartscosts)not indicated otherwise): all data and (without (if 1 YTD: year-to-date (since beginning of the year) Average annual return as at end-April 2009: 2 Benchmark in UBS and strategyAsset from 5.2.2007: from UBS (CH) Equity Fund – Natural Resources to UBS (CH) Equity Fund – Name Global change Management Global Materials Past 3 years: n/a Past 5 years: n/a Past 10 years: n/a Past performance provides no indication of the future performance of the fund units. This depends on market developments and how successfully the asset manager implements the investment policy. Profile of the typical investor The fund is appropriate for investors with a long-term horizon who are primarily seeking to achieve capital growth. Investors can accept larger fluctuations and a longer-lasting decline in the net asset value of the fund units. They are aware of the considerable risks an equity investment entails. Distributions The net income of the fund will be distributed free of charge to the investors annually within four months of the close of the financial year in the accounting currency US dollar (USD) (see Tax aspects (investment fund)). As a rule, capital gains are not distributed but are retained in the fund for reinvestment. Page 2/6
  3. 3. June 2009 Simplified prospectus UBS (CH) Equity Fund – Global Materials Unit classes The fund is currently subdivided into the following unit classes: Unit Accounting Initial Launch Minimum Smallest Commis- Form of Appro- class currency subscription period/date* subscription tradable lot sion p.a. custody priation price of income P USD 100 12.9.1994 n/a 0.001 1.800%1 Bearer Distributing H USD 500 000 not yet known n/a 0.001 1.300%1 Bearer Distributing K-1 USD 5 000 000 not yet known n/a 0.1 0.950%1 Bearer Distributing K-2 USD 100 000 not yet known n/a 0.1 0.700%2 Registered3 Distributing F USD 100 not yet known n/a 0.001 1.500%2 Registered3 Distributing I-72 6 USD 100 not yet known n/a 0.001 0.720%1 Registered3 Distributing I-68 USD 100 not yet known 10 000 000 0.001 0.680%1 Registered3 Distributing I-60 USD 100 not yet known 30 000 000 0.001 0.600%1 Registered3 Distributing I-5.5 6 USD 100 not yet known n/a 0.001 0.055%4 Registered3 Distributing I-X 6 USD 100 not yet known n/a 0.001 0.000%5 Registered3 Distributing U-X USD 10 000 not yet known n/a 0.001 0.000%5 Registered3 Distributing 1 Flat fee charged by fund management company. This is appropriated for management purposes, asset management and distribution and also to cover any costs that may be incurred. 2 Flat fee charged by fund management company. This is appropriated for management purposes, asset management and distribution and also to cover any costs that may be incurred. An additional fee is charged as stated in the written asset management mandate or advisory mandate which the investor has concluded with UBS AG, one of its selected subsidiary banks or a contracting partner authorised by UBS AG (cf. § 6 prov. 4 of the fund contract). 3 The registered units must be booked and held in custody at UBS AG. 4 Commission charged by the fund management company. The costs incurred in fund administration (including fund management company, administrator and custodian bank) are charged directly to the investment fund’s assets via commission. The costs incurred in fund management are charged to investors under a sep- arate agreement with UBS AG or one of its authorised contractual partners (cf. § 6 prov. 4 of the fund contract). 5 Commission charged by the fund management company. Costs arising in connection with the services provided for class “I-X” and “U-X” units are covered by payments due to UBS AG under a separate agreement with the investor (cf. § 6 prov. 4 of the fund contract). 6 The allocation to a unit class shall take place in consultation with the investor based on their mandate relationship with UBS AG or one of its authorised contracting partners. * The note “not yet known” refers to those unit classes which were not yet launched on the date this prospectus was published, or for which a launch date has not yet been set. Investors should contact their investment advisor for further details. Detailed information on the unit classes is contained in the fund contract (cf. Part II, § 6 prov. 4). The unit classes are not segmented assets. Accordingly, the possibility that a unit class may be liable for the liabilities of another unit class cannot be ruled out, even though costs as a rule may only be charged to the specific unit class bene- fiting from a specific service. ECONOMIC INFORMATION Remuneration and incidental costs Remuneration and incidental costs 20071 20082 20093 20094 Remuneration and incidental costs incurred directly by the investor when subscribing to and redeeming units Issuing commission max. 6% 6% 6% 6% At custodian bank in Switzerland max. 2% 2% 2% 2% Redemption commission max. 2% 2% 2% 2% At custodian bank in Switzerland none none none none Remuneration and incidental costs charged to the fund’s assets on an ongoing basis Flat fee charged by See the fund management company 1.80% 1.80% 1.80% table above Total expense ratio (TER) (excluding securities transaction costs) 1.81% 1.81% *) *) Portfolio turnover rate (PTR) according to Swiss Funds Association (SFA) 90.41% 0.98% *) *) 1 For the financial year 1 November 2006 to 31 October 2007 2 For the financial year 1 November 2007 to 31 October 2008 3 For the period 1 November 2008 to 25 June 2009 4 From 26 June 2009 *) Figures not yet available when the simplified prospectus was being produced. A preliminary estimate for the year to date is based on recent years’ figures. The flat fee can be used in full or in part for distribution remuneration and/or for reimbursements granted to specific types of investors. Page 3/6
  4. 4. June 2009 Simplified prospectus UBS (CH) Equity Fund – Global Materials Fee-sharing agreements There are no fee-sharing agreements. and soft commissions The fund management company has not concluded any agreements on retroces- sions relating to so-called soft commissions. Tax aspects (investment fund) The fund has no legal personality in Switzerland. It is subject to neither income tax nor capital gains tax. The fund management company shall apply for a refund of all Swiss federal with- holding tax levied on the fund’s domestic income on behalf of the fund. Any income and capital gains realised abroad may be subject to the relevant with- holding tax deductions imposed by the country of investment. These taxes will, as far as possible, be reclaimed by the fund management company on behalf of investors resident in Switzerland under the terms of double taxation treaties or other such agreements. Tax aspects (investors with Income distributions made by the fund to investors domiciled in Switzerland tax domicile in Switzerland) are subject to Swiss federal withholding tax (tax at source) at a rate of 35%. Capital gains are not subject to withholding tax provided they are distributed with a separate coupon or listed separately in the statement sent to the investor. Investors domiciled in Switzerland may reclaim Swiss withholding tax by declaring it in their tax returns, or by submitting a separate application for a refund. Tax aspects (investors with Income distributions made by the fund to investors domiciled outside Switzerland tax domicile abroad) are subject to Swiss federal withholding tax (tax at source) at a rate of 35%. Capital gains are not subject to withholding tax provided they are distributed with a separate coupon or listed separately in the statement sent to the investor. Income distributions to investors domiciled outside Switzerland are not subject to Swiss withholding tax provided that at least 80% of the income from the fund derives from foreign sources. To this end, a bank must provide confirmation that the units held by foreign investors are held in safekeeping at the bank and that the income will be credited to their accounts (residence declaration or affidavit). There is no guarantee that at least 80% of the fund’s income will derive from for- eign sources. Income distributions and/or interest income realised on sale or redemption are not subject to European savings tax in Switzerland. Other tax implications for investors who hold, buy or sell fund units are defined by the tax laws and regulations in the investor’s country of domicile. Page 4/6
  5. 5. June 2009 Simplified prospectus UBS (CH) Equity Fund – Global Materials ISSUE AND REDEMPTION OF FUND UNITS Swinging single pricing If, on any one order day, the sum of subscriptions and redemptions of units in the fund result in a net inflow or outflow, the fund’s net asset value will be increased or reduced by the average costs accruing to the fund from the investment of a net inflow or from the sale of a portion of investments corresponding to the net out- flow. The net asset value calculated and published on the basis of swinging single pricing is thus a modified, or “swung”, net asset value. Publication of prices Unit net asset values are published for all unit classes for each day fund units are issued or redeemed (daily) by Swiss Fund Data AG, on the Internet at www.ubs.com/funds, in other electronic media and in Swiss and foreign newspapers. Other information is published in the Swiss Commercial Gazette (Schweizerisches Handelsamtsblatt or SHAB) and by Swiss Fund Data AG (www.swissfunddata.ch). Type and manner of acquiring Units may be issued or redeemed on any bank business day. and redeeming units Subscription and redemption orders received at the custodian bank by 4 p.m. on a bank business day (order date) will be settled on the following bank business day (valuation date) on the basis of the net asset value calculated on this date (forward pricing). Brief description of the investment fund Inception date of fund 1994 under Swiss law Financial year 1 November to 31 October Securities no. Unit class “P” 260969 Unit class “H” Unit class “K-1” Unit class “K-2” Unit class “F” Unit class “I-72” Unit class “I-68” Unit class “I-60” Unit class “I-5.5” Unit class “I-X” Unit class “U-X” ISIN Unit class “P” CH0002609698 Unit class “H” Unit class “K-1” Unit class “K-2” Unit class “F” Unit class “I-72” Unit class “I-68” Unit class “I-60” Unit class “I-5.5” Unit class “I-X” Unit class “U-X” Page 5/6
  6. 6. June 2009 Simplified prospectus UBS (CH) Equity Fund – Global Materials Life (of investment fund) unlimited Promoter UBS AG, Zurich and Basel Fund management company UBS Fund Management (Switzerland) AG, Basel Asset manager UBS AG, UBS Global Asset Management, Zurich Custodian bank UBS AG, Zurich and Basel External auditors Ernst & Young Ltd., Basel Supervisory authority Swiss Financial Market Supervisory Authority FINMA, Berne Contacts In Switzerland: UBS Fund Management (Switzerland) AG Brunngässlein 12, CH-4002 Basel Tel.: +41 (0)800 899 899 or on the Internet: www.ubs.com/funds In Liechtenstein: Liechtensteinische Landesbank Aktiengesellschaft Städtle 44, FL-9490 Vaduz Page 6/6

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