TORONTO, Nov. 27, 2013 /CNW/ - (GAT.UN) - UBS Global Asset Management
(Canada) Inc., as manager of the UBS Global Allocation Trust (GAT) has
announced that it is holding a special meeting of unitholders on
January 8, 2014 for GAT (the "Fund"). The unitholders will be asked to
approve the proposed delisting of the GAT from the TSX and its
conversion into an open ended and daily redeemable tactical ETF fund of
funds subject to National Instrument 81-102. Unitholders of GAT will
also be asked to approve the necessary changes to the investment
This change will continue to leverage UBS Global Asset Management's
30-year heritage in active asset allocation but do so using best in
class ETFs in its portfolio construction which utilizes our disciplined
ETF selection and monitoring process, in place since 2003.
Investors that remain in the Fund after the conversion will receive
exposure to each asset class via an Exchange Traded Fund (ETF). An ETF
is an investment vehicle that combines key features of both traditional
mutual funds and individual stocks. Like index mutual funds, ETFs
generally represent portfolios of securities that track specific
indices, whether of niche or broad markets. Like stocks, they can be
bought and sold on an exchange throughout the trading day. In addition
to trading flexibility, key ETF benefits include portfolio
diversification, tax efficiency and transparency.
Unitholders of record on December 4, 2013 will be entitled to receive
notice of and vote at the meeting. Additional details regarding the
proposed conversion will be outlined in an information circular that
will be sent in December 2013. The information circular will also be
available at www.sedar.com. Unitholders are encouraged to complete
voting instruction forms in order that their units can be voted at the
meetings. If the proposed conversion is approved by unitholders of GAT,
the conversion is expected to occur on or before January 30, 2014,
subject to TSX and regulatory approvals.
Unitholders of GAT who do not wish to participate in the planned
conversion will have the opportunity to redeem their units before the
conversion occurs. The annual redemption at NAV is scheduled to occur
on January 30, 2014.
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 652 billion at 30 June 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
SOURCE: UBS Canada
For further information:
UBS Global Asset Management (Canada) Inc. Unitholder Relations
Would you like to receive this information electronically?
Please contact UBS Global Allocation Trust at Angelique.email@example.com