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UBS ETF (IE) Factor MSCI USA Quality UCITS ETF (USD) A-dis
Asset Class: Equities
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):
- 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.
- 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:
Max % balance on loan:1)
Average % balance on loan:2)
Net return to fund in bps:3)
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 AG receives 20% to cover the due diligence and the Securities Lending Agent 20% to cover operational costs resulting from the transactions carried out in relation to the securities lending.
For marketing and information purposes by UBS. UBS funds under Irish law. Arrangements for marketing fund units mentioned in this document may be terminated at the initiative of the management company of the fund(s). The representative in Liechtenstein for UBS Funds under foreign law is UBS Fund Management (Luxembourg) S.A. 33A Avenue J.F. Kennedy, L-1855 Luxembourg. Prospectuses, key information documents (KID), the articles of association or the management regulations as well as annual and semi-annual reports of UBS funds are available in a language required by the local applicable law free of charge from UBS Fund Management (Luxembourg) S.A. and online at www.ubs.com/etf. The product described herein aligns to Article 6 Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector. Information on sustainability-related aspects pursuant to that regulation can be found on www.ubs.com/funds. The benchmark is the intellectual property of the respective index provider. The fund or the share class is neither sponsored nor endorsed by the index provider. The fund prospectus or supplemental prospectus contains the full disclaimer. Before investing in a product please read the latest prospectus and key information document carefully and thoroughly. Any decision to invest should take into account all the characteristics or objectives of the fund as described in its prospectus, or similar legal documentation. Investors are acquiring units or shares in a fund, and not in a given underlying asset such as building or shares of a company. The information and opinions contained in this document have been compiled or arrived at based upon information obtained from sources believed to be reliable and in good faith, but is not guaranteed as being accurate, nor is it a complete statement or summary of the securities, markets or developments referred to in the document. Members of the UBS Group may have a position in and may make a purchase and / or sale of any of the securities or other financial instruments mentioned in this document. 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 calculated performance takes all costs on the fund level into consideration (ongoing costs). The entry and exit costs, which would have a negative impact on the performance, are not taken into consideration. If whole or part of the total costs to be paid is different from your reference currency, the costs may increase or decrease as a result of currency and exchange rate fluctuations. Commissions and costs have a negative impact on the investment and on the expected returns. 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 and exchange rate fluctuations. This information pays no regard to the specific or future investment objectives, financial or tax situation or particular needs of any specific recipient. Future performance is subject to taxation which depends on the personal situation of each investor and which may change in the future. 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 Asset Management Switzerland AG or a local affiliated company. Source for all data and charts (if not indicated otherwise): UBS Asset Management. A summary of investor rights in English can be found online at www.ubs.com/funds. More explanations of financial terms can be found at www.ubs.com/am-glossary.
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