The UBS IQ Research Preferred Australian Share Fund aims to replicate the performance of the UBS Research Preferred Index before fees and expenses. The Fund is an exchange traded fund ("ETF") which is a registered managed investment scheme. Units in the Fund trade on the AQUA market of the ASX. The Fund allows investors, in one transaction, to gain exposure to a diversified portfolio of listed Australian securities constructed by reference to, amongst other things, UBS equity research. The Fund provides investors with the benefits of a managed fund along with the flexibility of listed securities.