UBS Asset Management Luxembourg Please confirm you are resident in Luxembourg to proceed.

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Sales restrictions

Each of those collective investment schemes listed below has been authorised by the Luxembourg Supervisory Authority and as such can be freely marketed in Luxembourg. All other collective investment schemes referred to in the UBS Website have not been authorised by the Luxembourg Supervisory Authority and can therefore not be freely marketed in Luxembourg. All UBS Funds which bear "(Lux)" in their name, have been authorised by the Luxembourg supervisory authority and may be publicly marketed to investors in the Grand-Duchy of Luxembourg. All information in relation to unauthorised funds is not intended for review by Luxembourg residents.

Fund units may be acquired on the basis of the sales prospectus, the latest annual report and, if it has already been published, the subsequent semi-annual report. Only the information contained in the sales prospectus and in one of the documents referred to therein shall be deemed to be valid.

The units of the sub-funds of UBS (Lux) Funds are listed on the Luxembourg Stock Exchange. The issue and redemption of units of UBS (Lux) Funds are subject to the regulations prevailing in the country concerned.

Within the USA, units of the sub-funds mentioned may not be offered, sold or delivered.

Taxes
The Luxembourg based UBS funds are subject to Luxembourg legislation. It is up to the purchasers of units to seek information on the laws and regulations governing the purchase, possession and sale of units at their place of residence and for people of their nationality.

In conformity with current legislation in the Grand Duchy of Luxembourg, the funds are not subject to any Luxembourg withholding, income, capital gains or wealth taxes.

According to the tax legislation currently in force, unitholders are not required to pay any income, gift, inheritance or other tax in Luxembourg, unless they are domiciled in Luxembourg, have a residence in Luxembourg or maintain a permanent establishment there.