Please note the following risks

• Potential loss: There is no capital protection for investors. They may receive back less than they invested.
• Market risk: Market conditions can trigger fluctuations in total returns.
• Exposure to emerging markets: Investments in emerging markets entail greater risks than investments in industrialized countries. These risks include a certain degree of political instability, relatively unpredictable financial markets still in the developmental stage, and dependence on the economic situation.
• Liquidity risk: Some investments may entail liquidity risk.
• Foreign currency risk: A given investment’s total value can be adversely affected by exchange rate fluctuations.
• Company-specific risk: If an investee company becomes insolvent, investors may lose all of their invested capital.

This is a marketing communication.
Please refer to the prospectus/information document of the fund and to the KIID/KID (as applicable) before making any final investment decisions.

For Information Purposes Only, this presentation should not be used as a basis for investment decision.

To the extent that these materials contain statements about the future, such statements are forward looking and are subject to a number of risks and uncertainties and are not a guarantee of future results/performance.

All investments involve some level of risk. Simply defined, risk is the possibility that you will lose money or not make money.

Source: UBS, unless otherwise specified.
Unless noted otherwise, all illustrations in this document were produced by UBS AG and/or its affiliates with the greatest of care and to the best of its knowledge and belief.

This material constitutes marketing material of UBS AG and/or its affiliates (hereafter "UBS"). This material does not constitute or form part of an offer or invitation to issue or sell, or of a solicitation of an offer to subscribe or buy, any securities or other financial instruments, or enter into any other financial transaction, nor does it constitute an inducement or incitement to participate in any product, offering or investment. This marketing material is not a contractually binding document or an information document required by any legislative provision. Nothing in this material constitutes investment research or investment advice and may not be relied upon. It is not tailored to your individual circumstances, or otherwise constitutes a personal recommendation, and is not sufficient to take an investment decision. The information and views expressed herein are those of UBS at the time of writing and are subject to change at any time without notice. They are derived from sources believed to be reliable. UBS provides no guarantee with regard to the content and completeness of the information and where legally possible does not accept any liability for losses that might arise from making use of the information. If nothing is indicated to the contrary, all figures are unaudited. The information provided herein is for the exclusive use of the recipient. The information provided in this material may change after the date of this material without notice and UBS has no obligation to update the information. This material may contain information that is licensed and/or protected under intellectual property rights of the licensors and property right holders. Nothing in this material shall be construed to impose any liability on the licensors or property right holders. Unauthorised copying of the information of the licensors or property right holders is strictly prohibited. This material may not be forwarded or distributed to any other person and may not be reproduced. Any forwarding, distribution or reproduction is unauthorized and may result in a violation of the U.S. Securities Act of 1933, as amended (the “Securities Act”). In addition, there may be conflicts of interest with regards to the investment. In connection with the provision of services, UBS AG and/or its affiliates may pay third parties or receive from third parties, as part of their fee or otherwise, a one-time or recurring fee (e.g., issuing commissions, placement commissions or trailer fees). Prospective investors should independently and carefully assess (with their tax, legal and financial advisers) the specific risks described in available materials, and applicable legal, regulatory, credit, tax and accounting consequences prior to making any investment decision.
Important information for investors in Luxembourg
This marketing material is distributed to retail and professional clients by Credit Suisse Fund Management S.A.,
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