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UBS ETF (LU) MSCI Japan UCITS ETF (JPY) A-dis

Net asset value 4,678.8624 JPY

Last update

21.05.2019

ISIN: LU0136240974

Asset Class:  Equities

Securities lending

Securities lending is the temporary transfer of securities from the lender (the fund management company) in the name of and for the account of the investment fund to a third party (the borrower). In exchange, the borrower provides the lender with collateral before the delivery of securities, and pays a fee over the period of the loan. All loans within our lending programme are open and rolled daily such that they can be extended or terminated on demand. The fund can thus generate additional income. UBS ETFs engage in securities lending for selected, physically replicated UBS ETFs with the aim of reducing the investor’s net costs. Securities lending with UBS ETFs is always over-collateralised with at least 105% margin across all asset classes. In addition, on-loan balances are capped at 50% of each sub-fund’s AUM. Collateral is held in a custody account that is kept separate from the intermediary’s balance sheet. Daily revaluation at market prices ensures that the value of the collateral provided is always adjusted correctly. To further minimise risks, borrowers are carefully selected. The following types of securities are accepted as collateral (excl. securities of the borrowing counterparty):

  1. Securities issued and/or guaranteed by the governments of the following countries:
    • The following G10 countries: Belgium, the Netherlands, Canada, Sweden, France, Switzerland (SNB Bills), Germany, Japan, UK and USA (including US debt securities and rights issued or guaranteed by the US administration or one of its agencies or instrumentalities.)
    • Only the following OECD countries: Australia, Austria, Denmark, Finland, Luxembourg, New Zealand and Norway.
  2. Equities in the form of world stock indices.

Collateralisation of the securities lending is continually reviewed and adjusted as necessary. It can therefore be subject to change. For more details about Securities Lending Borrowers please follow the link.

Collateral 12 month lending summary (as of last month end)

Min % balance on loan:

5.31

Max % balance on loan:1)

42.91

Average % balance on loan:2)

18.68

Net return to fund in bps:3)

6.40

Collateral %:

108.06

Source: State Street

1) The maximum loan value is calculated from the maximum value of the lent securities on a single day within the past 12 months.

2) The average loan value is calculated by dividing the average percentage value of the securities lent on a daily basis by the fund's daily assets under management (AuM) over the past 12 months.

3) The fund's annualised net return generated by securities lending is calculated by dividing the fund's securities lending income over a period of 12 months by the fund's average net asset value (NAV) for the same period.

Of the revenue received by the borrower on the market, 60% is credited to the relevant sub-fund while UBS and lending agent receive 40% to cover the due diligence and operational costs resulting from the transactions carried out in relation to the securities lending.

Download all data as XLS File

Top 10 collateral holdings

#

Security

ISIN

Country

Asset Type

Weight %

1

02FSZNETHERLANDS GOVERN 0.

NL0012650469

n.a.

Bonds

0.07

2

VOLKSWAGEN AG NON VTG PRF NPV

DE0007664039

Germany

Equities

0.05

3

ROYAL DUTCH SHELL PLC 'A'SHS EUR0.07

GB00B03MLX29

United Kingdom

Equities

0.05

4

AKZO NOBEL NV EUR0.50(POST REV SPLIT)

NL0013267909

Netherlands

Equities

0.03

5

FRANCE, REPUBLIC OF-OAT-144A-REG-S 1.75000% 17-25.06.39

FR0013234333

France

Bonds

0.03

6

SEVEN & I HOLDINGS NPV

JP3422950000

Japan

Equities

0.03

7

SONY CORP NPV

JP3435000009

Japan

Equities

0.03

8

NIPPON TEL&TEL CP NPV

JP3735400008

Japan

Equities

0.03

9

NETHERLANDS, KINGDOM OF THE 2.75000% 14-15.01.47

NL0010721999

Netherlands

Bonds

0.03

10

AMERICA, UNITED STATES OF 3.12500% 18-15.11.28

US9128285M81

United States

Bonds

0.02

The table above lists the securities that are used as collateral for the securities lent with UBS ETFs. The information presented was obtained from internal and external sources deemed reliable. However, we cannot provide any guarantee of their accuracy and completeness. It should be noted that securities lending is subject to a certain risk where the borrower does not return the borrowed securities according to his/her obligation, and where the value of the collateral provided does not cover the costs of repurchase of the securities. In this case, the borrower shall be liable for any claims arising from the securities lending and not covered by the sale of the securities concerned. Source: State Street, 21.05.2019

Collateral types and margins

Collateral Types

Loan Types

International Equities

Government Bonds

International Equities

105.00 %

105.00 %

US Equities

105.00 %

105.00 %

As per CISA regulation, the value of the collateral must at all times be equal to at least 100% of the market value of the securities lent; as such the requirements applicable to the UBS funds significantly exceed this requirement at all times. Source: State Street, 21.05.2019

Disclaimer

For marketing and information purposes by UBS. UBS funds under Luxembourg law. 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 Asset Management, Regeringsgatan 38, 11153 Stockholm. The fund documentation is available free of charge in English and, where relevant, in one of the local language(s) where the fund is registered. 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 2019. The key symbol and UBS are among the registered and unregistered trademarks of UBS. All rights reserved.