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Conversion of share classes in UBS ETFs

UBS to transfer existing currency-hedged MSCI Canada ETFs into new structure….


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UBS ETF currently offers currency-hedged equity ETFs within a structure that entails opening an individual sub-fund for each currency/equity market combination. The five hedged currencies of the MSCI Canada, for example, require five independent, separately managed sub-funds. This concept is considered best practice on the ETF market; however, it is not the most efficient option possible when using ETFs. UBS ETF has therefore decided to merge the currency-hedged and non-currency-hedged MSCI Canada ETFs into one sub-fund and to match currency/equity market combinations within share classes.

All existing units will be converted to the value of the equities in the new structure, on the conversion date. Depending on the number of units held and the conversion ratio, investors will receive units in the new share classes, as well as a cash compensation for fractions. The combined value of these units and the cash compensation will be equivalent to the value of the units investors held on the conversion date.

The prices for the ETFs affected will remain unchanged in the target structure and are the same as before. The flat fee (TER) for currency-hedged share classes is 0.43% per year and 0.33% per year for non-currency-hedged share classes.

Planned conversion for:

UBS ETF – MSCI Canada 100% hedged to CHF UCITS ETF (CHF) A-acc,

UBS ETF – MSCI Canada 100% hedged to EUR UCITS ETF (EUR) A-acc,

UBS ETF – MSCI Canada 100% hedged to USD UCITS ETF (USD) A-acc,

UBS ETF – MSCI Canada 100% hedged to GBP UCITS ETF (GBP) A-acc,

UBS ETF – MSCI Canada 100% hedged to GBP UCITS ETF (GBP) A-dis, and

UBS ETF – MSCI Canada 100% hedged to SGD UCITS ETF (SGD) A-acc

DateActivities
18 March 2015Last trading day on the SIX Swiss Exchange*
25 March 2015Last technical trading day
26 March 2015Delisting

*Please also refer to the official publications of SIX Swiss Exchange

The delisting will take place on Thursday, 26 March 2015, the last technical trading day is on Wednesday, 25 March 2015. The trading of shares of the Sub-Fund will be suspended on Wednesday, 18 March 2015 after market close until the final technical trading day from trading on the SIX Swiss Exchange. The effective last trading day will be Wednesday, 18 March 2015.

 

Source: ETFWorld.co.uk

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