UBS Inflation-linked Bond Funds invest in a broadly diversified portfolio of inflation-linked bonds. These funds aim to preserve the real value of the assets in any economic environment (deflation or inflation, recession, depression or boom) over an investment horizon of three to five years.
The fund invests primarily in USD-denominated inflation-linked bonds of high quality (i.e. rated investment grade by the relevant credit rating agencies), globally diversified across regions, ratings and maturities.
The fund can hold opportunistic positions in government, agency, corporate, collateralized, high yield, emerging markets, and other than USD-denominated bonds, and use derivatives.
The portfolio manager team manages the fund actively, taking dynamic positions in interest rates, credit and currencies with the aim to seize attractive market opportunities, based on comprehensive research, while controlling downside risk.
Investors can preserve the purchasing power of their investment against inflation over a 3- to 5-year horizon, because the fund's real return is linked to realized inflation as, by definition, the coupons and principals of the inflation-linked bonds in the fund are directly linked to a consumer price index.
Investors have access to a diversified portfolio whose rigorous investment approach centers on controlling downside risk through comprehensive research and risk management.
As with other portfolios, changes in interest rates and inflation have an impact on the portfolio’s value. Coupon payments move in parallel with changes in inflation, i.e. they increase when inflation rises and decrease in a deflationary environment. In terms of the par value paid out on maturity, the capital invested for inflation-linked bonds with a deflation floor does not fall below the par value. However, for inflation-linked bonds with no deflation floor, the capital invested can fall below the par value. The majority of inflation-linked bonds are issued by governments. Inflation-linked bonds that are issued by companies have a higher default risk than government bonds, and therefore require investors to have corresponding risk tolerance and capacity. All investments are subject to market fluctuations. Every fund has specific risks, which can significantly increase under unusual market conditions. The fund can use derivatives, which may result in additional risks (particularly counterparty risk).
UBS Bond Funds
UBS Inflation-linked Bond Funds
UBS Asset Management, London
UBS Fund Management (Luxembourg) S.A.
UBS Europe SE, Luxembourg Branch
Day of inception
October 19, 2009
Currency of account
Close of financial year
Issue / redemption
Total expense ratio (TER)
Reference Index / Benchmark
Bloomberg Barclays Global inflation linked 1-10 years
Net asset value
High - last 12 months
Low - last 12 months
Assets of the unit class in mn
Total product assets in mn
Theoretical yield to maturity (net)
Average remaining maturity
Performance chart (USD-based, as of December 12, 2017)
Indexed, Month-end values
Past performance is not a reliable indicator of future results.
Performance (in %, as of December 12, 2017)
The performance shown does not take account of any commissions, entry or exit charges.
These figures refer to the past. Past performance is not a reliable indicator of future results.
Peer group (as of November 30, 2017)
Fund (USD, in%)
Ø peer group (in %) 1)
Quartile ranking 2)
||Average performance Lipper Global Classification (LGC)
||Quartile 1,2,3,4; e.g.: 1= fund is part of the best 25% of all funds of the peer group
Peer group information. Peer group category used: LGC Bond Global Inflation Linked, based on mutual funds in the "MSCI Europe Developed Markets Universe" ex institutional and insurance funds, ETF's and Pension Trusts. Source and calculation: Lipper, a Thomson Reuters Company
By Credit rating (in %, as of November 30, 2017)
By investment domicile (in %, as of November 30, 2017)
By the 10 largest positions (in %, as of November 30, 2017)
United States Government Bond
France Government Bond
Italy Government Bond
New Zealand Government Bond
Spain Government Bond
United Kingdom Gilt
Japanese Government Bond
Brazil Government Bond
Canadian Government Bond
Australian Government Bond