UBS ETF In order to proceed, you must confirm that you are an institutional investor based in Spain.

For marketing and information purposes by UBS. CNMV registration number (Comisión Nacional del Mercado de Valores): .  Representative in Spain for UBS funds established under foreign law: UBS Bank, S.A., MARÍA DE MOLINA, 4, E-28006 MADRID. Prospectuses, simplified prospectuses or Key investor information, the articles of association or the management regulations as well as annual and semi-annual reports of UBS funds are available free of charge from UBS, MARÍA DE MOLINA Nº 4, 28006 MADRID / AVENIDA DIAGONAL Nº 640, 2º A, E-08017 BARCELONA / FERNÁNDEZ Y GONZÁLEZ Nº 2, PLANTA PRINCIPAL, E-41001 SEVILLA / C/ROGER DE LAURIA Nº 7, 1ª PLANTA, 46002 VALENCIA / COSO Nº 33, 5º A, 50003 ZARAGOZA, CANTÓN PEQUEÑO 15, 4º, 15003 A CORUÑA. Before investing in a product please read the latest prospectus carefully and thoroughly. Units of UBS funds mentioned herein may not be eligible for sale in all jurisdictions or to certain categories of investors and may not be offered, sold or delivered in the United States. The information mentioned herein is not intended to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Past performance is not a reliable indicator of future results. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units. Commissions and costs have a negative impact on performance. If the currency of a financial product or financial service is different from your reference currency, the return can increase or decrease as a result of currency fluctuations. This information pays no regard to the specific or future investment objectives, financial or tax situation or particular needs of any specific recipient. The details and opinions contained in this document are provided by UBS without any guarantee or warranty and are for the recipient's personal use and information purposes only. This document may not be reproduced, redistributed or republished for any purpose without the written permission of UBS AG. Source for all data and charts (if not indicated otherwise): UBS Asset Management

UBS experts share their insights Gold

Particularly during times of uncertainty, gold's importance as an asset class increases: Besides the fact that gold is seen as protection against inflation and a "safe haven", the precious metal also has real value and cannot be arbitrarily reproduced, one of the main reasons for its popularity among investors.

In addition, gold moves relatively independently of other asset classes such as equities. Consequently, during crisis situations portfolios diversified with gold frequently outperform those without it.

Whether as a hedge against crises or as a long-term commodity diversifier, gold is a permanent fixture in many investors' portfolios.

Investing in physical gold – where to start?

The question remains: What is the best way to invest in gold? The most obvious option is a physical investment in coins or bars. The disadvantage with this option, however, is the risk of theft or else the additional costs that arise for secure storage, as well as the costs involved in manufacturing the physical standard units.

For this reason, physically covered ETFs on gold are growing increasingly popular among investors: they invest entirely in physical gold and can be bought and sold on the stock exchange. Moreover, some ETFs – including UBS’s own – allow for redemption in kind. Investments in any currency other than the US dollar, which is the reference currency for gold, can be hedged against exchange rate fluctuations between it and the currency of investment using currency-hedged ETFs.

To sum up, UBS gold ETFs combine the benefits of an investment in physical gold with the flexibility of exchange traded securities, as well as low management and transaction costs.