UBS (Lux) Fund Solutions - MSCI Europe UCITS ETF, Klasse (EUR) A-dis/  LU0446734104  /

The UBS (Lux) Fund Solutions - MSCI Europe UCITS ETF sub-fund is passively managed and will take proportionate exposure on the components of the MSCI Europe Index (Net Return) either through direct investments in all or substantially all of the component securities and/or through the use of derivatives in particular where it may not be possible or practicable to replicate the index through direct investments or in order to generate efficiencies in gaining exposure to the index. There may also be instances where a sub-fund holds securities which are not comprised in its index if the portfolio manager of respective sub-fund believes this to be appropriate considering the sub-fund's investment objective and the investment restrictions or other factors. Exposure to the index through direct replication may be affected by rebalancing costs, while exposure to the index through derivatives may be affected by derivative trading costs. The use of OTC derivatives further engenders counterparty risk which is however mitigated by UBS (Lux) Fund Solutions collateral policy.

The UBS (Lux) Fund Solutions - MSCI Europe UCITS ETF sub-fund is passively managed and will take proportionate exposure on the components of the MSCI Europe Index (Net Return) either through direct investments in all or substantially all of the component securities and/or through the use of derivatives in particular where it may not be possible or practicable to replicate the index through direct investments or in order to generate efficiencies in gaining exposure to the index.