I and U135. 41 nl 19 5oretby 1012 UBS Chief Investment Office November 2012 4 EFTA_R1_02073874 EFTA02702207 UBS CIO WM Research is published by Wealth Management 8 Swiss Bank and Wealth Management Americas, Business Divisions of UBS AG (U8S) or an affiliate thereof. In certain countries 1185 AG is referred to as 1185 SA T