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UBS launches new Fund of Hedge Funds called UBS (CH) Global Alpha Strategies (CHF)

| Media Releases Switzerland

UBS is launching a Fund of Hedge Funds called "UBS (CH) Global Alpha Strategies (CHF)". The new fund's subscription period will start on 21 June 2004 and end on 25 June 2004. To be issued under Swiss jurisdiction, the new fund will require a minimum subscription of CHF 10,000 for the first tranche (corresponds to 10 fund units of CHF 1,000 each).

Funds of Hedge Funds investments are typically widely diversified in a number of different alternative investment strategies and fund managers. They give investors the opportunity to improve the risk/return ratio of their portfolio.

UBS (CH) Global Alpha Strategies (CHF) will, according to its investment strategy, invest in 35-50 hedge funds worldwide that best meet its criteria. It will aim to diversify its portfolio of hedge fund managers and alternative strategies as widely possible, giving investors the ability to benefit from a broad range of asset classes as well as diverse financial and investment instruments. It will also give them the opportunity to take advantage of the newest trading and portfolio management techniques.

UBS Global Alpha Strategies wants to generate an attractive risk/return ratio by optimally combining the most promising hedge funds worldwide while at the same time keeping a low level of correlation to traditional markets. The fund will target long-term capital growth with positive absolute returns and moderate volatility, helping preserve the investor's capital as well.

Technical details

Fund name/valora no.

UBS (CH) Global Alpha Strategies (CHF)/1 878 471

Fund domicile


Fund type

Open Swiss Fund-of-fund

Portfolio management

UBS Global Asset Management

Management company

UBS Fund Management (Switzerland) AG

Currency of account


Minimum subscription

(first tranche)

CHF 10,000 (10 units, CHF 1,000 each)



Income distribution


Management fee


Performance fee


Issuing premium


*Alternative investments such as hedge fund usually charge a performance fee as well as a management fee. If UBS (CH) Global Alpha Strategies (CHF) records a positive performance, it will charge a monthly performance fee. The level of the charge will be 10% of the net gain in the net level of the invested assets (the level of fund assets after the management fee is deducted).

UBS (CH) Global Alpha Strategies as a fund of funds invests in various, usually foreign investment funds and quasi-fund investment instruments (hereinafter called target funds) which themselves pursue alternative investment strategies or make alternative investments (generally known as hedge funds or non-traditional funds). The risks of these target funds are not comparable to the risks of securities funds. For this reason, UBS (CH) Global Alpha Strategies belongs to the category "other funds with special risks".

The attention of investors in UBS (CH) Global Alpha Strategies is therefore explicitly drawn to the risks noted in the Prospectus. In particular, investors need to be prepared and in a financial position to accept - even substantial - price losses.

The Fund Management of UBS (CH) Global Alpha Strategies, however, makes every effort to minimize risks as far as possible by utilizing a broad diversification in the pursued investment strategy, by carefully selecting the underlying target funds and by closely monitoring these funds. Nevertheless, we cannot exclude the possibility that, in exceptional cases, one or more of the underlying hedge funds may suffer a total loss.

Prospectuses including regulations as well as annual and semi-annual reports of UBS Investment Funds are available free of charge at UBS AG, PO Box, CH-4002 Basel or UBS Fund Management (Switzerland) AG, PO Box, CH-4002 Basel. Units of investment funds mentioned in this publication may not be offered, sold or delivered in the USA. The information about funds provided on this page does not constitute an offer. It is for informational purposes only. Past performance is no guarantee for future trends.

Zurich / Basel, 18 June 2004