The UBS MSCI World Minimum Volatility Index Fund (“the Fund”) is an index tracking fund that seeks to deliver performance that is consistent with that of the MSCI World Minimum Volatility (GBP optimised) Total Return Net GBP Index ("the Index") before the deduction of management fees and fund expenses over business cycle (minimum 5 years). The MSCI World Minimum Volatility (GBP optimised) Index aims to reflect the performance characteristics of a minimum variance strategy applied to MSCI World Index. The index is calculated by optimising MSCI World Index in GBP, for the lowest absolute risk (within a given set of constraints). Historically, the index has shown lower volatility characteristics relative to MSCI World Index.
There is no guarantee that the Fund will deliver positive returns over this, or any time period or that the Fund will completely match the performance of the Index.
The Fund will invest predominantly in the constituents of the Index. However, where investments do not fully replicate the Index, the Fund may invest in companies which, in the Manager's opinion, are reasonably expected to become part of the Index, or in cash. The Fund will physically replicate the risk exposures of the Index on an efficient basis by investing all or substantially all of its assets in the components of the Index. The Fund aims to have an Anticipated Tracking Error of up to 0.5% per annum. The Anticipated Tracking Error is a target and is not guaranteed.
Philosophy and aim
- We believe passive investing requires manager skill, experience and technology to achieve the best performance possible whilst closely tracking the underlying benchmark.
- To construct a portfolio that delivers the return of the underlying benchmark with very low tracking error by controlling risk and minimising costs.
Delivering flexible passive solutions
- Passive management has been a capability in our firm for over 30 years; we set up one of the first index-tracking funds in the UK in 1979. Experienced investment professionals around the globe manage passive portfolios across asset classes including equities, fixed income and commodities against both regional and global benchmarks.
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