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UBS : Asset Management announces changes to its money market fund platform

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02/09/2016 | 01:42pm EST

UBS Select Treasury Funds

UBS AM previously announced changes to its UBS Select Treasury Funds in June 2015, affirming that the funds intend to qualify as 'government money market funds' under the SEC's amended rules. The funds will continue to invest in US Treasury securities and related repurchase agreements.

Under the SEC's amended rules, these Treasury funds may maintain a CNAV per share of $1.00 and will not be subject to fees and/or gates unless their board determines to provide advance notice to shareholders of a change in this policy. The funds will continue to be available as investment options to both natural persons and non-natural persons.

  • UBS Select Treasury Preferred Fund
  • UBS Select Treasury Institutional Fund
  • UBS Select Treasury Investor Fund

UBS Select Government Funds - New Family of Funds in Development*

UBS AM is planning to launch new UBS Select Government Funds in 2016 to expand its liquidity management platform and to complement the existing UBS Select Treasury Funds. The funds will be available to both natural persons and non-natural persons. Under the SEC's amended rules, these government money funds may maintain a CNAV per share of $1.00 and will not be subject to fees and/or gates unless their board determines to provide advance notice to shareholders of a change in this policy. The funds will seek to invest 99.5% or more of their net assets in cash, government securities (e.g., US Treasury and agency securities) and/or repurchase agreements collateralized solely by cash or government securities.

  • UBS Select Government Preferred Fund
  • UBS Select Government Institutional Fund
  • UBS Select Government Investor Fund

UBS Investor Series - Reduction of Minimum Initial Investment

To make its funds more accessible to investors, UBS AM is reducing the initial minimum investment requirement from $100,000 to $10,000. These changes are effective February 1, 2016.

  • UBS Select Prime Investor Fund
  • UBS Select Tax-Free Investor Fund (to be renamed UBS Tax-Free Investor Fund effective on or about 08/31/2016)
  • UBS Select Treasury Investor Fund

UBS Cash Sweep Platform Changes

To comply with the SEC's amended rules as well as to streamline investment options for fund shareholders, UBS AM expects to makes changes to its current menu of money market funds available via UBS Financial Services' automatic 'cash sweep platform.' Some funds may no longer be offered on cash sweep platforms, and investors may be transitioned to alternate money market sweep products. Shareholders will receive separate communications with specific fund changes later in 2016.

UBS AM is working to ensure that its products, systems and processes will comply with the new SEC regulations before the relevant compliance deadlines and meet the funds' goals of safety, liquidity and income.

About UBS Asset Management

UBS Asset Management is a large-scale asset manager with well diversified businesses across regions and client segments. It serves third-party institutional and wholesale clients, as well as clients of UBS's wealth management businesses with a broad range of investment capabilities and styles across all major traditional and alternative asset classes. Complementing the investment offering, the fund services unit provides fund administration services for UBS and third-party funds.

About UBS

UBS is committed to providing wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland, with superior financial advice and solutions while generating attractive and sustainable returns for shareholders. Its strategy centers on its Wealth Management and Wealth Management Americas businesses and its leading universal bank in Switzerland, complemented by its Asset Management business and its Investment Bank. These businesses share three key characteristics: they benefit from a strong competitive position in their targeted markets, are capital-efficient, and offer a superior structural growth and profitability outlook. UBS's strategy builds on the strengths of all of its businesses and focuses its efforts on areas in which it excels, while seeking to capitalize on the compelling growth prospects in the businesses and regions in which it operates. Capital strength is the foundation of its success.

UBS is present in all major financial centers worldwide. It has offices in more than 50 countries, with about 35% of its employees working in the Americas, 36% in Switzerland, 17% in the rest of Europe, the Middle East and Africa and 12% in Asia Pacific. UBS Group AG employs about 60,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).

Investors should consider the investment objectives, risks, charges, and expenses of a mutual fund carefully before investing. The money market funds' prospectuses contain this and other information about the Funds and should be read carefully before investing. Contact the UBS Asset Management National Sales Desk at 888-793 8637 or visit www.ubs.com/usmoneymarketfundsholdings for a current prospectus.

As indicated on the prior page, UBS Select Government Preferred Fund, UBS Select Government Instituitional Fund and UBS Select Government Investor Fund are currently in the process of being registered with the US Securities and Exchange Commission, and a selling prospectus is not yet available as of January 2016 for these funds.

An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Althought a money market fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market fund.

UBS AG issued this content on 28 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 09 February 2016 18:41:23 UTC

Original Document: https://www.ubs.com/global/en/about_ubs/media/global/releases/news_display_media_global.html/en/2016/01/28/ubs-asset-management-announces-changes-to-its-money-market-fund-platform.html

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