The Fund adopted a managed distribution policy (ďPolicyĒ) in
The Fundís Board receives recommendations from
To the extent that the Fundís taxable income in any fiscal year exceeds the aggregate amount distributed based on a fixed percentage of its net asset value, the Fund would make an additional distribution in the amount of that excess near the end of the fiscal year. To the extent that the aggregate amount distributed by the Fund based on a fixed percentage of its net asset value exceeds its current and accumulated undistributed earnings and profits, the amount of that excess would constitute a return of capital or net realized capital gains for tax purposes. A return of capital may occur, for example, when some or all of the money that shareholders invested in the Fund is deemed to be paid back to shareholders. A return of capital distribution does not necessarily reflect the Fundís investment performance and should not be confused with ďyieldĒ or ďincome.Ē
The Fund estimates the source characteristics of its monthly distributions. The amounts and sources reported are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and tax reporting purposes will depend upon the Fundís investment experience during its entire fiscal year and may be subject to retroactive changes based on tax regulations. The actual sources of the Fundís regular monthly distributions may be net investment income, net realized capital gains, return of capital or a combination of the foregoing. The Fund sends shareholders a Form 1099-DIV (or a financial intermediary should provide a shareholder with similar information) for the calendar year that will tell shareholders how to report these distributions for federal income tax purposes.
Monthly distributions based on a fixed percentage of the Fundís net asset value may require the Fund to make multiple distributions of long-term capital gains during a single fiscal year. The Fund has received exemptive relief from the
Investors should not draw any conclusions about the Fundís investment performance from the amount of the monthly distribution or from the terms of the Fundís managed distribution policy.
Characteristics as of
|Net Asset Value per share|
|Market Price per share|
|NAV Distribution Rate (DR)||5.98%|
|Market Distribution Rate (DR)||6.96%|
* Net asset value (NAV), market price and distribution rates will fluctuate. NAV distribution rate (DR) is calculated by multiplying the current monthís regular monthly distribution by 12 and dividing by the month-end net asset value. Market distribution rate (DR) is calculated by multiplying the current monthís regular monthly distribution by 12 and dividing by the month-end market price.
Any performance information reflects the deduction of the Fundís fees and expenses, as indicated in its shareholder reports, such as investment advisory and administration fees, custody fees, exchange listing fees, etc. It does not reflect any transaction charges that a shareholder may incur when (s)he buys or sells shares (e.g., a shareholderís brokerage commissions).
Investing in the Fund entails specific risks, such as interest rate risk and the risks associated with investing in the securities of issuers in emerging market countries.The value of the Fund's investments in foreign securities may fall due to adverse political, social and economic developments abroad†and due to decreases in foreign currency values relative to the US dollar.Investments in emerging market issuers may decline in value because of unfavorable government actions, greater risks of political instability or the absence of accurate information about emerging market issuers.†Further†detailed information regarding the Fund, including a discussion of principal objectives, principal investment strategies and principal risks, may be found in the fund overview located at http://www.ubs.com/closedendfundsinfo. You may also request copies of the fund overview by calling the Closed-End Funds Desk at 888-793 8637.
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Closed-End Funds Desk, 888-793 8637