_:n0f1c71af3d7a448e99bc0fac1c4cdaebxb26
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"<p>In ETF securities lending, the lender (UBS ETFs) transfers a certain number of securities from the ETF portfolio to a third party (borrower) for an agreed period in return for a fee.</p> \n<ul> \n <li>UBS ETFs engage in securities lending only for <strong>select physically replicated ETFs</strong> domiciled in Switzerland, Ireland, and Luxembourg.</li> \n <li>The objective is to <strong>reduce investors' net costs</strong> through additional income.</li> \n <li>Securities lending transactions of UBS ETFs are <strong>overcollateralized to a minimum of 105%</strong>.</li> \n <li>A haircut is additionally applied to Swiss-domiciled ETFs.</li> \n <li>Careful selection of borrowers and daily mark-to-market valuation of collateral serve to minimize risk.</li> \n <li><strong>High degree of transparency through daily publication of collateral assets</strong> for each subfund.<br></li> \n</ul>"
<https://www.ubs.com/global/en/assetmanagement/capabilities/etfs.html>