Epstein Secrets

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nd, 23-27 January 2013 Ivonne A-Bald Secretary of State for the Yasuni-ITT Initiative of Ecuador Svein Aaser Chairman of the Board Telenor ASA Norway Florencio Abad Secretary of Budget and Management, Department of Budget and Management of the Philippines Mhammed Abbad Founder Al Jisr Moroc

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lion. The portfolio is comprised of 58 high quality assets/sub-portfolios in nine countries (including the U.S.) with a geographic concentration in Norway, Sweden, and Germany. The Obligo funds were approaching their maturities, and the seller was seeking a holistic solution and execution certainty. B

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F appreciation and the SNB has clearly shown in May that it is willing and can protect the floor; we expect the SNB to continue in this. ¢ Sweden and Norway stand out for their lower debt-to-GDP ratios and current account surpluses. The NOK appreciated recently, due to safe haven inflows. We stay neutral

ional ClO Switzerland Daniel Kalt [email protected] HOUSE_OVERSIGHT_024177 42 --- PAGE BREAK --- Disclaimer This document has been prepared by UBS AG, its subsidiary or affiliate ("UBS"). The information is intended as a general market commentary and provided solely for marketing and information pu

he euro crisis and reserve unwinding of the SNB at some point. Given this balance, we have decided to close the underweight in the CHF. ¢ Sweden and Norway stand out for their lower debt-to-GDP ratios and current account surpluses. Both the SEK and NOK have appreciated on diversification and safe-haven i

ions Act”). In no circumstances may the Document be made available by UBS AG to a “Retail Client” as defined in section 761G of the Corporations Act. UBS AG's research services are only available to Wholesale Clients. The Document is general information only and does not take into account any person’s inves