Global Real Estate – · PDF fileGlobal Real Estate – Switzerland ... Region and sector classification as well as Premium and Dividend Yield calculation done by UBS Global Asset

Global Real Estate – SwitzerlandUBS CH Property Fund – Swiss Mixed «Sima»

Swiss editionReal estate investment management

January 26, 2012

Daniel Brüllmann, Head of Wholesale Business

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Global Real Estate – Switzerland

7 indirect real estate investment products– 5 listed funds; UBS «Sima», the largest Swiss real estate fund

– 2 investment trusts

Market and customer-oriented solutions for real estate and real estate projects

– Developments, purchase / sale, investments in kind, «James», PPP, etc.

Investment volume: approx. CHF 12 billion– over CHF 56 billion around the world (no. 2 worldwide1)

around 900 properties in Switzerland– around 1,700 worldwide

Construction volume of around CHF 350 million per year

– Current new construction portfolio: around CHF 700 million

Customer-focused – transparent – far-sighted

Data as per 31.12.20111 Data as per 30.06.2011

2

2007 2008 2009 2010 2011 1

Listed funds

UBS (CH) Property Fund –

Léman Residential «Foncipars»


Swiss Residential «Anfos»


Swiss Mixed «Sima»

Investment trustsUBS Foundation (AST-IS)

«Immobilien Schweiz»

UBS Foundation (AST-KIS)

«Kommerzielle Immobilien Schweiz»

8'756 9'548 10'308 10'937 11'606

11.5 9.0 8.0 6.1 6.1

Investment focus

AuM (CHF m)

Residential buildings in

French-speaking Switzerland 773 807 818 839 840 Residential buildings in

German-speaking Switzerland 1'443 1'547 1'622 1'685 1'813

1'036 1'112 1'142

UBS (CH) Property Fund – Swiss Commercial «Swissreal»

Commercial buildings

throughout Switzerland 1'199 A mix of properties

throughout Switzerland 4'694 5'133 5'483 5'743 6'005

840

885 1'015 1'129

A mix of properties

throughout Switzerland 1'272 Commercial buildings

throughout Switzerland – – 21 92 154

885

UBS (CH) Property Fund – Direct Residential

Residential buildings in

German-speaking Switzerland 121 140 237 307 323

Total of the portfolio

Annual percentage change (%)

Global Real Estate – Switzerland

1 Sima, Foncipars, Swissreal and Direct Residential as per 30.06.2011, Anfos as per 30.09.2011 and Investment trusts as per 31.12.2011

Product offering

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Notes: Market capitalisation, weightings and prices based on SIX data. NAV according to the latest company statement, adjusted for the dividends. Mixed means portfolio consists of more than one sector. Region and sector classification as well as Premium and Dividend Yield calculation done by UBS Global Asset Management based on financial year statements. Performance is Total Return based on Datastream and Bloomberg data. * Realstone is in the index as of 01.02.2010, UBS Direct Residential is in the index as of 29.10.2010, Patrimonium Swiss RE is in the index as of 01.11.2010, Rothschild Swiss Real Estate SICAV is in the index as of 23.03.2011.**TR from quotation to 31.12.2010: Realstone +12.55%; Patrimonium Swiss RE -3.49%; UBS Direct Residential -7.74%

Past performance is no guarantee for future results.

SXI Real Estate Funds Index as of December 30, 2011Name Market cap. Weight Sector Region Price NAV Premium Div. Yield Perf. Perf. Perf. Perf.

in CHF mn. to NAV YTD 2011 2010 3YR

UBS SWISS SIMA 5'425 21.14 Mixed Mixed 96.15 75.25 27.8% 3.38% 8.00 8.00 9.03 40.65

CS REF SIAT 2'092 8.15 Mixed Zurich Region 165.10 125.99 31.0% 3.27% 11.39 11.39 -3.10 31.49

CS REF LIVING PLUS 2'074 8.08 Residential Mixed 118.50 100.42 18.0% 2.19% 2.16 2.16 0.47 18.62

UBS SWISS ANFOS 1'878 7.32 Residential German-Speaking Ch 61.10 48.15 26.9% 3.27% 6.63 6.63 7.62 38.12

CS REF INTERSWISS 1'500 5.84 Commercial Zurich Region 220.90 178.24 23.9% 3.80% 10.66 10.66 -0.84 35.64

CS REF PROPERTY PLUS 1'176 4.58 Commercial Zurich Region 138.00 112.56 22.6% 2.97% 5.35 5.35 7.70 33.30

IMMOFONDS 1'130 4.40 Residential German-Speaking Ch 386.00 293.17 31.7% 3.50% 8.03 8.03 5.33 33.22

SWISSCANTO IFCA 1'086 4.23 Residential German-Speaking Ch 114.40 89.54 27.8% 2.97% 1.12 1.12 5.15 29.85

UBS SW SWISSREAL 1'083 4.22 Commercial Mixed 69.45 58.90 17.9% 3.74% 3.47 3.47 9.99 47.65

SCHRODER IMMOPLUS 1'053 4.10 Commercial German-Speaking Ch 1097.00 879.77 24.7% 1.37% 5.52 5.52 14.33 47.45

SOLVL 61 PRT 923 3.60 Residential Geneva / Vaud 260.00 171.93 51.2% 1.96% 4.15 4.15 3.33 25.59

LA FONCIERE 919 3.58 Residential Geneva / Vaud 815.00 629.56 29.5% 2.48% 13.03 13.03 5.74 46.82

FIR 878 3.42 Residential Vaud 136.40 109.53 24.5% 2.75% 9.92 9.92 4.79 40.46

UBS FONCIPARS 791 3.08 Residential Geneva / Vaud 77.05 63.00 22.3% 3.18% 7.88 7.88 5.61 35.13

BONHOTE IMMOBILIER 642 2.50 Residential Geneva / Vaud 118.50 106.26 11.5% 2.24% 4.28 4.28 6.90 18.67

SWISSINVEST REAL 578 2.25 Residential German-Speaking Ch 127.80 107.33 19.1% 3.48% 10.03 10.03 -0.06 30.17

Immo Helvetic 557 2.17 Residential Berne Region 199.00 157.43 26.4% 3.27% 6.37 6.37 9.61 41.80

PROCIMMO 449 1.75 Commercial Vaud 134.00 118.74 12.9% 2.99% 16.15 16.15 8.98 34.50

UBS DIRECT RES 373 1.45 Residential German-Speaking Ch 15.00 11.93 25.7% 2.33% 7.26 7.26

PATRIMONIUM CH RE 354 1.38 Residential Geneva / Vaud 116.10 108.09 7.4% 2.77% -4.22 -4.22

Rothschild Real Estate SICAV 347 1.35 Residential Mixed 115.60 100.00 15.6% n.a.

REALSTONE 310 1.21 Residential Mixed 126.50 110.71 14.3% 2.96% 7.39 7.39RESIDENTIA 47 0.18 Residential Ticino 1165.00 1049.41 11.0% 0.91%

TOTAL 25'664 100.00 Average Agio 25.4%

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UBS (CH) Property Fund – Swiss Mixed «Sima»

The fund invests in residential and commercial properties throughout Switzerland, with investments focused on large cities and their agglomerations.

These figures refer to the past. Past performance is not a reliable indicator of future results. The performance shown does not take account of any commissions and costs chargedwhen subscribing to and redeeming units.

Key data as per 31.12.2010 (financial year 2010)

Year of inception 1950 Net asset value CHF 4'317m

Number of properties 350 Market value CHF 5‘743m

Use Rental income CHF 326.4m

Residential 44% Rental loss rate 3.2%

Commercial 42% Leverage 18.4%

Mixed 11% Total return on NAV 5.9%

Under construction / building land 3% Performance 9.1%

Property locations

Canton of Zurich 49%

Canton of Basel-Stadt / Basel-Land 12%

Canton of Geneva 9%

Canton of Bern 6%

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Acquisition and construction project Kesselhaus, WinterthurInvestment amount approx. CHF 70mUrban entertainment center located next to the central station, 6 cinemas and a 9‘300m2 retail and catering area Opening September 2010, 100% occupied

Acquisition and construction projectShoppingcenter Cristal, Martigny (VS)Investment amount approx. CHF 90m 13‘564 m2 retail area, garage Key Tenant CoopCompletion planned for April 2011

Highlights

Acquisition and construction project Kesselhaus, WinterthurInvestment amount approx. CHF 70mUrban entertainment center located next to the central station, 6 cinemas and a 9‘300m2 retail and catering area Opening September 2010, 100% occupied

Acquisition and construction projectShoppingcenter Cristal, Martigny (VS)Investment amount approx. CHF 90m 13‘564 m2 retail area, garage Key Tenant CoopCompletion planned for April 2011

Construction project

Opfikon-Glattbrugg (ZH), Wright PlaceInvestment amount approx. CHF 140m88 apartments and 30’000 m2 retail and office spaceCompletion planned for 2013

Acquisition and construction project Allschwil, ZiegeleiarealInvestment amount approx. CHF 761m126 apartements and 133 parking spaces Completion 2nd quarter 2011

AcquisitionWankdorf-Center, BernInvestment amount approx. CHF 200m (Joint-Ownership)Retail (49%), office (18%), school (12%), parking spaces (9%), rest (12%)May 2011

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85

90

95

100

105

110

115

120

125

130

135

140

30.1

2.06

30.0

6.07

30.1

2.07

30.0

6.08

30.1

2.08

30.0

6.09

30.1

2.09

30.0

6.10

30.1

2.10

30.0

6.11

30.1

2.11

UBS (CH) Property Fund - Swiss Mixed «Sima»SXI Real Estate® Funds TR*

Comparison of UBS «Sima» with its BenchmarkPe

rfo

rman

ce in

dex

ed in

CH

F

These figures refer to the past. Past performance is not a reliable indicator of future results. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units.

Source: UBS Global Asset Management/DatastreamData: as at end of December 2011

Ø p.a.

5 years

Sima -5.1 -0.8 20.0 8.8 8.0 32.6 5.8

BM -3.3 0.5 20.5 5.7 6.8 32.3 5.8

Performance in % as per 30.12.2011

Name 2007 2008 2009 2010 5 years 2011

YTD

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Product

– Biggest listed swiss real estate fund

– High liquidity trough large investment volume and small denomination

– Attractive return on NAV and distribution

Portfolio

– Attractive residential and commercial buildings troughout Switzerland

– Stable returns from existing portfolio

– Growth through acqusitions of construction projects and standing properties

– Development potential through renovations and urban densification

Management

– Large know-how trough more than 65 years of experience

– Customer-focused, transparent, far-sighted

– Fondsteam with qualified specialists

– Active portfolio- and asset management

USP‘s of UBS «Sima»

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As per Januay 2012

New construction projects UBS «Sima»

Building type Place Address ProjectTotal volume in

m CHFCompletion by

Commercial property Gümligen Worbstrasse new construction 80 Q1 2012

Residential property Villmergen Anglikerstrasse new construction 20 Q3 2012

Hotel Opfikon Riethofstrasse new construction 89 Q3 2013

Commercial & residential

property Opfikon Glattpark new construction 140 2013/2014

Residential property Altstätten Schachenstrasse new construction 40 Q2 2014

Residential property Boudry new construction 18 Q3 2014

Total

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As per January 2012

Project Wright Place, Opfikon 1/2

Facts and Figures

Mixed usage with restaurants, retail and office space, apartements and a public parking

Investment amount approx. CHF 140m

Floor-space approx. 38‘000m2

Rental income approx. CHF 8,4m

Move-in: End of 2014

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As per January 2012

Project Wright Place, Opfikon 2/2

Schedule

Purchase of land: 1977 (as potential building land)

Approval development plan in 2009

Competition in 2009/10

Project planning in 2010/11

Construction phase from 2012 to 2014

USP‘s

excellent connection to public transportation

Long term anchor tenant Migros

‚Minergie‘-Standard

High architectural quality

First Mover Advantage

Tenant structure

by floor space

20%

32%23%

21%

4%

Retail / Fitness

Office

Residential

Parking

Other

by rental income

23%

37%

28%

11% 1%

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As per Januay 2012

Development projects from existing portfolio UBS «Sima»

Building type Place Address ProjectTotal volume in

m CHFCompletion by

Residential property Zürich Gutstrasse Redensification / Refurbishment 25 2Q 2012

Residential property Zürich

Honrainweg /

Seestrasse Redensification / Refurbishment 14 4Q 2012

Shopping Center Rapperswil Alte Jonastrasse Refurbishment 66 3Q 2013

Residential property Wetzikon Blaketen Redensification / Refurbishment 19 2Q 2013

Residential property Zürich Etzelstrasse Redensification / Refurbishment 28 2Q 2013

Residential property Zürich Bellariastrasse Redevelopment 40 2015

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Sustainability “LowEx Zero Emission“

Renovation Honrainweg / Seestrasse, Zurich 1/3

Facts and Figures

Renovation and redensification of an existing property with year of construction1951

Investment amount approx. CHF 14 Mio.

44 apartments and 5 studios in the attic

Rental income approx. CHF 1.2 Mio.

Completion: End of 2012

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Low Ex

zero emission

Current established solutions aim to avoid energy loss by extensive insulation and sealing of buildings (e.g. ‚Minergie‘). Further development of these methods will reach their technical limits over time.

An alternative approach is the use of natural energy sources which are collected and stored for winter periods. Focus is on reduction of CO2 emission to zero (Low EX, Zero Emission). During winter periods the stored warmth is extracted by heat pumps in order to heat the building.


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Schedule

Pre-project in 2010

Project and building permit in 2011 Construction phase in 2012 Architect/GP: Baukontor Arch. Zurich

Technical installations: Amstein + Walthert, Zurich

General contractor: Renespa AG, Wallisellen

USP‘s

Renovated apartements in Zurich-Wollishofen

LowEx Zero Emmission concept

Thermo-photovoltaic collectors and soil accumulator

Savings of approx. CHF 160.- per month as a result of lower energy costs

Attractive architecture

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For further informationUBS Real Estate Funds (http://www.ubs.com/realestate-switzerland)

For illustrative purposes

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Contact

www.ubs.com

Dr. Daniel Brüllmann, CFAHead of Wholesale BusinessGlobal Real Estate – SwitzerlandBrunngässlein 124051 Basel

+41-61-288 35 [email protected]

17

Disclaimer

For marketing and information purposes by UBS. UBS real estate fund under Swiss law. Prospectuses, simplified prospectuses, the articles of association or the management regulations as well as annual and semi-annual reports of UBS funds are available free of charge from UBS AG, P.O. Box, CH-4002 Basel or from UBS Fund Management (Switzerland) AG, P.O. Box, CH-4002 Basel. No new issues at present. Purchase and sale of units via the stock market. Only tax-exempt occupational pension schemes under pillar 2 and pillar 3a domiciled in Switzerland and patronal welfare funds (in accordance with BVG) are authorised investors in the UBS Foundation for the Investment of Pension Fund Assets investment groups. Before investing in a product please read the latest prospectus carefully and thoroughly. Units of UBS funds mentioned herein may not be offered, sold or delivered in the United States. The information mentioned herein is not intended to be construed as a solicitation or anoffer to buy or sell any securities or related financial instruments. Past performance is not a reliable indicator of future results. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units. Commissions and costs have a negative impact on performance. If the currency of a financial product or financial service is different from your reference currency, the return can increase or decrease as a result of currency fluctuations. This information pays no regard to the specific or future investment objectives, financial or tax situation or particular needs of any specific recipient. The details and opinions contained in this document are provided by UBS without any guarantee or warranty and are for the recipient's personal use and information purposes only. This document contains statements that constitute “forward-looking statements”, including, but not limited to, statements relating to our future business development. While these forward-looking statements represent our judgments and future expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially fromour expectations. Source for all data and charts (if not indicated otherwise): UBS Global Asset Management

© UBS 2012. The key symbol and UBS are among the registered and unregistered trademarks of UBS. All rights reserved.

Global Real Estate – · PDF fileGlobal Real Estate – Switzerland ... Region and sector classification as well as Premium and Dividend Yield calculation done by UBS Global Asset

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