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Pillar 3a: UBS Vitainvest Funds repositioned
- Fixed management fees cut - Existing Vitainvest funds realigned - New retirement funds with Swiss investment focus
As part of the ongoing review of its product range, UBS has repositioned its Vitainvest Funds. The fixed management fees for the existing UBS Vitainvest Funds have been cut. The funds have also been given a more global focus and renamed UBS Vitainvest World'. UBS is also setting up two new retirement funds with a focus on Swiss investments.
UBS's existing Vitainvest Funds get new direction and are renamed UBS Vitainvest World'
A broader country allocation of investments is making UBS's present Vitainvest Funds more diversified. All four existing UBS Vitainvest Funds are being automatically renamed by the addition of the word World'. As before, funds with a variety of equity weightings are available, depending on the investor's risk capacity and tolerance. UBS Vitainvest World Funds are suitable for clients who would like to invest their retirement savings globally. Despite the more global orientation, the equity weightings remain within the original ranges. The fixed management fees were reduced as of 30 April 2010 as set out below:
UBS Vitainvest 12 World: from 1.44% to 1.15% p.a.
UBS Vitainvest 25 World: from 1.52% to 1.30% p.a.
UBS Vitainvest 40 World: from 1.62% to 1.40% p.a.
UBS Vitainvest 50 World: from 1.64% to 1.50% p.a.
New retirement funds with Swiss investment focus
UBS Vitainvest Swiss Fund enables clients to invest the greater part of their retirement savings in their domestic market and in selected Swiss securities and tangible assets: State and corporate bonds in Swiss francs, shares in renowned Swiss companies and selected real estate in Switzerland. The following two funds will be available with effect from 25 May 2010:
- UBS Vitainvest 25 Swiss (25% equities, 65% bonds, 10% real estate)
- UBS Vitainvest 50 Swiss (46% equities, 44% bonds, 10% real estate)
The fixed management fees will be 1.25% (UBS Vitainvest – 25 Swiss) and 1.40% p.a. (UBS Vitainvest – 50 Swiss).
Option of switching between fund types at any time without charge
It is possible to switch between the two fund types while remaining within UBS's retirement products range (Pillars 2 and 3 and UBS unrestricted retirement custody account 3b) without charge and at any time, and the same rule applies to other purchases and sales. Unlike conventional retirement funds or life insurance investments, UBS Vitainvest Funds do not have to be sold on retirement and can be transferred into a normal UBS custody account. This makes the investment period longer and enables returns to be optimised.