High-profile initial public offerings, stock-for-stock acquisitions, inheritance, and stock based compensation are just a few of the causes that have left many individuals in an enviable, yet precarious, position of owning large concentrations of a single stock.

Often, the inability or lack of desire to sell- whether due to insider status, capital gains implications, legal restrictions, or a client's overall attachment to the position - can make managing the risks associated with these holdings complicated.

In today's equity markets, how do you protect the value of your large positions and enhance investment flexibility? That's where UBS can help.

We remain focused on you and how we can best optimize your concentrated equity positions.
We use strategies which can:

• Protect against declines in stock value
• Enhance returns by "monetizing" a stock position
• Allow for diversification
• Increase borrowing capacity
• Defer costly capital gains taxes

Depending on your situation, strategies may include:

• Remain unhedged
• Sale of securities
• Sale of over the counter (OTC) covered call options
• Purchase of OTC put options
• Zero-premium collars
• Maximum monetization and asset protection (MMAP)   

Why UBS?

• Consistently recognized as a leader in Equity Risk Management
• Strength of credit rating: Aaa/AA+/AA+ (Moody's, S&P, Fitch)
• Globally integrated presence in all major financial markets
• High caliber and experience of sales team professionals
• Ranked No. 1 in Equity Derivatives by U.S. corporate clients for past three years (Risk Magazine 04'-06')