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UBS plans to launch UBS Multi-Asset Income Fund
By Toni Weeks
San Diego, Feb. 2 - The UBS Funds announced in an N-1A filing with the Securities and Exchange Commission its plans to offer the UBS Multi-Asset Income Fund.
The fund will launch with class A, class C and class Y shares. Ticker symbols have not yet been set.
The fund will seek to provide monthly risk-managed income over the long term by investing in a combination of equities, nominal and inflation-linked fixed-income securities, third-party exchange-traded funds, real estate investment trusts, exchange-listed options and other exchange-traded and over-the-counter derivative securities.
The fund may invest up to 50% of its total assets in below-investment-grade bonds of corporations and up to 20% of its total assets in a combination of other lower-rated bonds, including lower-rate municipal bonds and non-U.S. government bonds, including those of emerging market countries. In addition, the fund may invest up to 50% of its total assets in ETFs or preferred stock of companies in developed countries and up to 25% of its total assets in real estate securities of U.S. and non-U.S. issuers.
Only class A shares will impose a sales charge, which will be a maximum of 4.5%. All three share classes will incur a 1% redemption fee for shares redeemed within 90 days.
Management fees will be 0.59% for each share class. Along with distribution and/or service fees, acquired fund fees and other expenses, and taking into account a fee waiver contract with the adviser, total annual fund operating expenses are expected to be 1.04%, 1.79% and 0.79% for class A, class C and class Y shares, respectively.
The portfolio will be managed by a team that includes Iain Barnes, David Buckle, Curt Custard, Andreas Koester and Lowell Yura.
Chicago-based UBS Global Asset Management (Americas) Inc. will serve as the investment adviser to the fund.
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