UBS(Lux)Real Estate F.S.-Gl.(EUR)P/  LU0349525401  /

The investment objective of Global REFS is to deliver a broadly diversified exposure to major property markets worldwide, including Asia Pacific (mainly Australia and Japan), Europe and North America and in the principal real estate types, being office, retail, logistic, residential and in some cases hospitality and healthcare, and storage. Target Funds in which Global REFS invests are typically established in the Luxembourg, Delaware, England and Wales, Australia, Singapore, Jersey, Hong Kong, Ireland, Cayman Islands and Guernsey. UBS Asset Management categorises this Sub-Fund as an ESG Integrated Fund. Global REFS will invest primarily in Target Funds that are seeking core real estate returns. The Target Funds will typically hold good quality buildings in good locations that have a high occupancy to good quality tenants. Therefore Global REFS will seek low volatile real estate returns with a focus on income. However, there is no assurance that such a return will be achieved. In respect of its investment in Target Funds, Global REFS seeks to maintain a "look-through" borrowing limit of no more than 40%. Where this "look-through" borrowing exceeds 40% from time to time, it will be the intention to reduce the borrowing back to below 40% when the opportunity allows.

The investment objective of Global REFS is to deliver a broadly diversified exposure to major property markets worldwide, including Asia Pacific (mainly Australia and Japan), Europe and North America and in the principal real estate types, being office, retail, logistic, residential and in some cases hospitality and healthcare, and storage. Target Funds in which Global REFS invests are typically established in the Luxembourg, Delaware, England and Wales, Australia, Singapore, Jersey, Hong Kong, Ireland, Cayman Islands and Guernsey.