UBS Global Asset Management Trust Company (UBS), a leading
investment management firm and a member of the UBS Global Asset
Management division of UBS Group AG, and Morningstar, Inc. (NASDAQ:
MORN), a leading provider of independent investment research, today
announced that UBS is launching a series of target-date collective
investment trust funds (CITs) that seek to track the performance of
the Morningstar® Lifetime Allocation Indexes. UBS expects to launch
the CITs, which are for use exclusively by qualified retirement
plans, in July. Morningstar Associates, LLC, a registered
investment advisor and part of the Morningstar Investment
Management group, will serve as a nondiscretionary subadvisor with
respect to the CITs. Morningstar, Inc. is the index provider.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20150528005175/en/
"UBS Global Asset Management has been managing passive
portfolios for more than 30 years," said Blake Moore, Head of
Americas for UBS Global Asset Management. "Our experienced index
investment professionals around the globe manage passive portfolios
across asset classes including equities, fixed income and
commodities. We are pleased to work with Morningstar to bring these
CIT funds to defined contribution plans."
Available in three series—conservative, moderate, and growth—the
CITs will be passively managed, low-cost investment selections. UBS
is licensing the Morningstar Lifetime Allocation family of indexes
as the benchmarks for the CITs. Launched in 2009, the Morningstar
Lifetime Allocation Indexes comprises three series of target-date
indexes that vary in aggressiveness and adjust their asset
allocations over time to become more conservative. The indexes
leverage Morningstar’s Total Wealth Approach to investing—a concept
that goes beyond looking at an individual’s current wealth, and
takes into account his or her personal prospects, goals, and
resources when building portfolios. The Morningstar Investment
Management group developed this proprietary investment methodology
through years of award-winning academic research on capital market
assumptions, lifetime finance, and advanced asset allocation
optimization techniques.
“Morningstar’s mission is to help investors reach their
financial goals. In the defined contribution market, we do that by
applying our best retirement research and methodologies to help
average workers improve their retirement outcomes,” said Brock
Johnson, head of retirement solutions for Morningstar. “As workers
are increasingly turning to target-date investments, these new CITs
will reach more employees and help them to achieve a secure
retirement.”
Not FDIC Insured | May Lose Value | No Bank Guarantee
The Morningstar Lifetime Index Funds are collective investment
trust funds established under the UBS (US) Group Trust. UBS Global
Asset Management Trust Company is the trustee the UBS (US) Group
Trust and the investment manager of the CITs.
The values of the CITs will fluctuate up to and after their
target dates. There is no guarantee the CITs will provide adequate
income at or through retirement. There is no guarantee that the
CITs will actually achieve any objectives, performance
expectations, risk or return targets. Diversification and asset
allocation strategies do not ensure a profit and cannot protect
against losses in a declining market. The CITs are subject to
various risks, including possible loss of principal, market
volatility, risks associated with the underlying investments,
exposure to international and emerging markets, small company and
sector equity securities, commodities, and fixed income securities
subject to changes in inflation, interest rates, market valuations,
liquidity, prepayments, and early redemption.
The CITs are available for investment only by eligible
retirement plans and entities. The CITs are not insured by the FDIC
or any other governmental agency; are not deposits or other
obligations of, and are not guaranteed by UBS Global Asset
Management Trust Company or any of its affiliates. The CITs are not
mutual funds and are not registered under the Investment Company
Act of 1940 (the "1940 Act"), and their units are not registered
under the Securities Act of 1933, or applicable securities laws of
any state or other jurisdiction. CIT unitholders are not entitled
to the protections of the 1940 Act. The decision to invest in the
CITs should be carefully considered. The CITs are not sold by
prospectus and are not available for investment by the public; CIT
unit prices are not quoted in newspapers.
Notes to Editors
About UBS Global Asset Management
UBS Global Asset Management Trust Company is a wholly-owned
subsidiary of UBS Group AG (UBS Group) and a member of the UBS
Global Asset Management division. The UBS Global Asset Management
division is a large-scale asset manager with well-diversified
businesses across regions, capabilities and distribution channels.
The firm offers investment capabilities and investment styles
across all major traditional and alternative asset classes. These
include equity, fixed income, currency, hedge fund, real estate,
infrastructure and private equity investment capabilities that can
also be combined in multi-asset strategies.
UBS Group draws on its over 150-year heritage to serve private,
institutional and corporate clients worldwide, as well as retail
clients in Switzerland. Its business strategy is centered on its
pre-eminent global wealth management businesses and its leading
universal bank in Switzerland, complemented by its Global Asset
Management business and its Investment Bank, with a focus on
capital efficiency and businesses that offer a superior structural
growth and profitability outlook.
About Morningstar, Inc. and the Morningstar Investment
Management Group
Morningstar, Inc. is a leading provider of independent
investment research in North America, Europe, Australia, and Asia.
The company offers an extensive line of products and services for
individual investors, financial advisors, asset managers, and
retirement plan providers and sponsors. Morningstar provides data
on approximately 500,000 investment offerings, including stocks,
mutual funds, and similar vehicles, along with real-time global
market data on more than 15 million equities, indexes, futures,
options, commodities, and precious metals, in addition to foreign
exchange and Treasury markets. Morningstar also offers investment
management services. The company has operations in 27
countries.
The Morningstar Investment Management group, through its
investment advisory units, creates custom investment solutions that
combine award-winning research and global resources with
proprietary Morningstar data. With approximately $179 billion in
assets under advisement and management as of March 31, 2015, the
Investment Management group provides comprehensive retirement,
investment advisory, and portfolio management services for
financial institutions, plan sponsors, and financial advisors
around the world. Morningstar Associates, LLC is part of the
Investment Management group and a wholly owned subsidiary of
Morningstar, Inc.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150528005175/en/
Media:UBSGregg Rosenberg, 212-713-8842gregg.rosenberg@ubs.comorMorningstar,
Inc.Alexa Auerbach,
312-696-6481alexa.auerbach@morningstar.com
UBS (NYSE:UBS)
Historical Stock Chart
From Mar 2024 to Apr 2024
UBS (NYSE:UBS)
Historical Stock Chart
From Apr 2023 to Apr 2024