Key
Features and Benefits
|
• |
Comfort of
90% capital protection on the
Capital Protection Date (31 July 2013) |
|
• |
Diversification: access to a
variety of regional equity markets through
broad based index exposure |
|
• |
Simplicity : ability to choose from
three investment themes |
|
• |
Potential
for enhanced exposure:
Potential participation rates up to 130% for
Class D, 130% for Class E and 150% for Class
F, fixed for the investment term2 |
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International investment options with the
benefit of full currency hedging
on the Capital Protection Date |
|
• |
Optional
90% Principal Investment Loan:
available for approved individuals,
companies or family trusts |
|
• |
Optional
90% Limited Recourse Loan:
available for approved SMSFs |
|
• |
Minimum
investment amount of $20,000 |
|
• |
Investment
term of 4 years and 8 months |
|
• |
Minimum
Principal Investment Loan of $45,000 |
Indicative Participation Rates
|
Class |
Reference Asset3 |
Capital Protection Level |
Indicative Participation Range |
Participation Rate as 13
November 20084 |
|
D |
S&P 500 Index |
90% |
100-130% |
105% |
|
E |
MSCI AC Asia ex Japan Index |
90% |
100-130% |
100% |
|
F |
S&P / ASX 200 Index |
90% |
120 – 150% |
135% |
* These are indicative rates only.
Final participation rates will not
be set until the date on which the
underlying investments are acquired
by the Fund (around 12 December
2008) and those rates may be
different to the rates listed in
this table. If the actual
participation rate for a class is
less than the indicative
participation range then the units
in the class will be compulsorily
redeemed and withdrawal proceeds
(reflecting application moneys free
of any withdrawal fees) will be
refunded without interest.
90% Lending Options for you and your SMSF
| Interest Payment Type |
Description |
Indicative Interest Rate (% p.a.) |
| 1. Principal Loan |
Annual in Advance – Fixed |
Rate fixed for the full term – interest paid in advance at inception and then June each year until Maturity. |
8.95% |
| 2. Principal Loan |
100% in Advance – Prepaid |
Available for Superannuation & Non Superannuation Fund borrowers. Rate fixed for the full term – 100% of interest paid in full at inception. |
8.50% |
| 3. Principal Loan |
Annual in Advance – Variable |
Rate set at inception and then reset in May each year until Maturity – interest prepaid at inception and then June each year to Maturity. |
9.25% |
| 4. Principal Loan |
Monthly Variable |
Rate set at inception and then reset in May each year until Maturity – Interest paid in monthly instalments. |
9.65% |
The minimum loan amount is $45,000 (corresponding to an investment in the Fund of $50,000).
Key Dates:
| Offer Period Opens: |
8 October 2008 |
| Offer Period Closes: |
5pm (Sydney time) 2 December 2008 |
| Capital Protection Date: |
31 July 2013 |
Who should invest?
You may consider an investment in the UBS Global Access Fund if you:
|
• |
are looking to diversify your portfolio and access global markets |
|
• |
would like to invest with the comfort of 90% Capital Protection on the Capital Protection Date
|
|
• |
seek potential for investment growth over the medium term |
|
• |
would like an investment with potentially enhanced exposure to selected regional equity markets |
|
• |
want to take advantage of a lending facility (also available for SMSF’s) to fund 90% of your investment
|
At a glance
| Investment Name |
UBS Global Access Fund (ARSN 130 791 338) |
| Unit Classes |
Class D — US equities (Index referenced exposure) Class E — Asia ex Japan equities (Index referenced exposure)
Class F — Australian equities (Index referenced exposure) |
| Offer Period |
8 October 2008 – 2 December 20085 |
| Unit Issue Date |
11 December 2008 |
| Trade Date |
12 December 2008 (the DPAs will be entered into on this date) |
| Capital Protection on the Capital Protection Date6 |
90% |
| Capital Protection Date |
31 July 2013 |
| Liquidity |
Monthly redemptions available |
| Minimum Investment |
$20,000 in the Fund as a whole, ($10,000 per Class) and thereafter increments of $10,000 |
| Minimum Loan Application |
$45,000 (corresponding to an investment in the Fund of $50,000) and thereafter in loan increments of $9,000 |
| Management Costs |
Estimated to be 0.5% p.a. of the issue price of units outstanding at the beginning of each payment period in a class of units. The responsible entity intends to pay Fund expenses out of the management costs, but may be reimbursed out of Fund assets where unanticipated expenses are incurred. |
| Loan Establishment Fee |
1.1% (incl. GST) of the Principal Loan Amount payable by the Borrower to UBS (this amount will be debited from your nominated account). This fee may be waived by UBS. |
| Withdrawal Fee |
Between $0 and $0.0125 per Unit, depending on date of withdrawal. See Section 8 of the PDS for more information. |
| Adviser Remuneration |
Non-Loan Applications: Your adviser may receive an upfront adviser commission of 2.2% (inclusive of GST) of the application amount as agreed between you and your adviser. This fee will be added to your application amount and will be payable by you.
Loan Applications: If applying for a UBS Investment Loan, your adviser may receive from UBS a one off adviser commission equal to either 1.1% of your initial Loan Amount or 2.2% of your initial Loan Amount. This commission will be paid by UBS out of its own funds. In addition UBS may pay out of its own funds a Loan trailing commission of 0.55% p.a. (inclusive of GST) to advisers based on the total Principal Loan Balance on 30 June 2009, 30 June 2010, 30 June 2011 and 30 June 2012 for the financial year commencing on that date.
This is not an exhaustive list of adviser remuneration. See Section 8 of the PDF for details on adviser remuneration. |
| Risks |
Risks apply to an investment in the UBS Global Access Fund, including risks associated with flat or negative performance of the underlying investments, loss of 90% capital protection, leverage risk arising from participation rates greater than 100%, counterparty risk exposure to UBS AG as provider of the deferred purchase agreements to the UBS Global Access Fund, limited liquidity and opportunity cost. Refer to the PDS for a full disclosure of the risks of investing. |
Notes:1
90% capital protection is provided to the
Fund and not to individual unitholders directly
and while the responsible entity of the Fund
intends to pass this benefit on to unitholders,
it may be impacted by unexpected expenses
incurred by the Fund. As such, 90% capital
protection will not apply to unitholders if
units are redeemed prior to, or after, the
Capital Protection Date and may not apply in
certain limited circumstances. The 90% capital
protection described above will only apply on
the Capital Protection Date. Please refer to the
PDS for more information.
2 Actual
participation rates will be set on the trade
date (12 December 2008). Participation rates may
change if there is an adjustment event. See
Section 4 of the PDS for more information
3 See Section
3 of the PDS for details on the indicies
constituting the Reference Assets.
4 These are
indicative rates only. Final participation rates
will not be set until the date on which the
underlying investments are acquired by the Fund
(around 12 December 2008) and those rates may be
different to the rates listed in this table. If
the actual participation rate for a class is
less than the indicative participation range
then the units in the class will be compulsorily
redeemed and withdrawal proceeds (reflecting
application moneys free of any withdrawal fees)
will be refunded without interest.
5 The dates set out above are indicative
only and the responsible entity may extend
or shorten the offer period without notice,
in which case the dates may vary
accordingly.
6
90% capital protection is provided to
the UBS Global Access Fund and not to
individual unitholders directly and while
the responsible entity of the Fund intends
to pass this benefit on to unitholders, it
may be impacted by unexpected expenses
incurred by the Fund. As such, 90% capital
protection will not apply to unitholders if
units are redeemed prior to, or after, the
Capital Protection Date and may not apply in
certain limited circumstances. The 90%
capital protection described above will only
apply on the Capital Protection Date. Please
refer to the PDS for more information.
IMPORTANT
INFORMATION
This document has been issued by Valuestream
Investment Management Limited (ABN 66 094 107
034, AFSL 246621) (VIML) as at 13 November 2008
for information purposes only. VIML is not
licensed to provide financial product advice in
relation to the product and recommends that
investors obtain the Product Disclosure
Statement dated 8 October 2008 (as supplemented
by the Supplementary Product Disclosure
Statement dated 13 November 2008) (PDS) for the
UBS Global Access Fund, ARSN 130 791 338 (Fund)
and read it before making a decision to acquire
Units in the Fund. A 14 day "cooling off" period
applies to retail investors in the Fund. Please
refer to Section 10 of the PDS for more
information. The terms of the Fund are contained
in the PDS for the offer of Units in the Fund,
issued by VIML in its capacity as the
responsible entity of the Fund. The PDS has not
been lodged, and is not required to be lodged
with the Australian Securities and Investments
Commission (ASIC). VIML will notify ASIC that
this PDS is in use in accordance with the
Corporations Act. ASIC and its officers take no
responsibility for the contents of this PDS. The
PDS is available from UBS by calling 1800 048
416 or VIML by calling (02) 9271 0915. VIML and
its related entities, and its directors and
employees may have pecuniary or other interests
in the Fund and or its investments by acting as
the responsible entity of the Fund. VIML will
receive fees for acting in this capacity,
however these fees will not be payable by
the Fund.
This document does not take into account your
investment objectives, financial situation or
particular needs. Accordingly, nothing in this
document or the PDS is a recommendation by VIML,
UBS AG Australia Branch (ABN 47 088 129 613,
AFSL 231087) (UBS) or their related entities or
by any other person concerning investment in the
Units and before acting on this information, you
should consider its appropriateness having
regard to your situation. We recommend that you
not only consider the information in the PDS but
also obtain independent financial and taxation
advice as to the suitability of an investment in
the Units for you (bearing in mind your
investment objectives, financial situation and
particular needs). The Fund is only available to
persons receiving the PDS in Australia. The PDS
does not constitute an offer of Units in any
place in which, or to any person to whom, it
would not be lawful to make such an offer. The
distribution of the PDS in jurisdictions outside
Australia may be restricted by law and any
person who resides outside Australia into whose
possession this information comes (including
nominees, trustees or custodians) should seek
advice on and observe those restrictions.
Information in this document is subject to
change from time to time and neither VIML nor
UBS is obliged to update or maintain the
accuracy of this information. Capitalised terms
used in this document have the meaning given to
them in the PDS and the IM.
UBS is a foreign Authorised Deposit-Taking
Institution (ADI) under the Banking Act 1959 (Cth),
and is supervised by the Australian Prudential
Regulation Authority. However, it is important
for you to note that Units in the Fund, the DPAs
and Reference Assets are not deposit products
and will not be covered by the depositor
protection provisions set out in Division 2 of
Part II of the Banking Act 1959 (Cth) as these
provisions do not apply to foreign ADIs. UBS is
not the issuer of the Units in the Fund or the
PDS. UBS faces the Fund as principal in its
transactions so Unitholders will have no
recourse to UBS at any time in connection with
the Fund’s investment in the DPAs or the
Reference Assets themselves and are not entitled
to make any claims against UBS in relation to
the Fund’s investment in the DPAs.
UBS Investment Loans are provided by UBS.
Investors who borrow using the UBS Investment
Loan to purchase units in the Fund should obtain
a copy of and read the Information Memorandum
for the UBS Investment Loan dated 27 May 2008
("IM") prior to investing. Copies of the IM are
available from your financial advisor or by
contacting UBS direct on 1800 633 100. Investors
are also encouraged to seek professional legal,
taxation and financial advice as required
regarding the suitability of using the UBS
Investment Loan. Nothing in this document should
be construed as financial product advice or a
recommendation or solicitation to invest using
the UBS Investment Loan. VIML is not a party to
the provision of the Loan. |
