UBS Global Allocation Trust announces results of special meetings of unitholders

TORONTO, Jan. 8, 2014 /CNW/ - (GAT.UN) - UBS Global Asset Management (Canada) Inc., as manager of UBS Global Allocation Trust ("GAT" or the "Fund") has announced that at a special meeting of the unitholders of the Fund held on January 8, 2014, unitholders approved all of the special resolutions presented to them. In particular, the unitholders of GAT approved the conversion of the Fund into an open ended and daily redeemable mutual fund subject to National Instrument 81-102, and as a consequence, the delisting of the GAT from the TSX.  Unitholders of GAT also approved the necessary changes to the investment guidelines so that the Fund will invest, upon receipt from the Ontario Securities Commission for the simplified prospectus (anticipated in early February), into third party ETFs. This will leverage UBS Global Asset Management's 30-year heritage in global active asset allocation in its portfolio construction which utilizes our disciplined ETF selection and monitoring process, in place since 2003.

After the conversion, the existing unitholders will be converted into the Series A units of the new Fund.  The Fund intends to continue to pay a distribution of 5% of the NAV per annum paid quarterly and will no longer be hedged back to the Canadian dollar.  The Fund will be renamed UBS (Canada) Global Tactical Allocation ETF Fund.  The new Fund will be available in a Series A class with a 1.40% management fee (including 1.00% trailer) and a Series F class with a 0.40% management fee.

UBS Global Asset Management is a large scale asset manager with well diversified businesses across regions, capabilities and distribution channels. It offers investment capabilities and investment styles across all major traditional and alternative asset classes. These include equity, fixed income, currency, hedge fund, real estate and infrastructure investment capabilities that can also be combined in multi-asset strategies. The fund services unit provides professional services including legal fund set-up, accounting and reporting for traditional investment funds and alternative funds.

Invested assets totaled some CAD 661 billion at 30 September 2013. The firm is a leading fund house in Europe, the largest mutual fund manager in Switzerland and one of the largest fund of hedge funds and real estate investment managers in the world.

With around 3,500 employees, located in 24 countries, we are a truly global firm. Our main offices are in London, Chicago, Frankfurt, Hartford, Hong Kong, New York, Paris, Sydney, Tokyo, Toronto and Zurich.

SOURCE UBS Canada

For further information:

UBS Global Asset Management (Canada) Inc. Unitholder Relations
1-866-827-9300
http://www.ubs.com/1/e/globalam/Americas/canada/ca_retail.html

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