Dear Readers,

Welcome to the relaunch of UBS Perspectives. The publication has evolved over the past three years and this, our 12th edition, is our biggest issue yet. Expanding to 12 pages has allowed us to include more thought-provoking articles and provide a fresh perspective on the world of business and finance.

In the opening article, Hartmut Issel from UBS Wealth Management Research examines why inflation is such an important topic in the current economic environment, and how you can protect yourself against this menace.

Elsewhere, commodities specialist Dominic Schnider looks at the dynamics of the oil and precious metals markets and advises what factors to consider before investing.

Also in this issue, Henry Hirzel, Head of UBS Family Advisory, gives his thoughts on effective succession planning for the family business and the transfer of wealth from one generation to the next.

Following our success in the Euromoney annual private banking survey, we were honored to be again named the Best Global Private Bank in Asia Pacific in the Asiamoney Private Banking Poll 2011. The Asiamoney accolades are particularly special to us because they are voted for by clients and reflect the trust and confidence that you have in us.

UBS Perspectives has been created for our clients. If you would like to get in touch with us about the articles in this or any other issue, please contact the Editor at Perspectives@ubs.com. We hope that you enjoy this issue of UBS Perspectives.


Yours sincerely,