With this extremely successful re-opening, UBS AST Real Estate Switzerland can impressively underline its position as a leading mixed real estate investment vehicle. The capital increase was significantly oversubscribed. With the re-opening, the number of investors has increased to around 400. The new capital of CHF 160 million will be used to reduce debt, for investments in the existing portfolio and for acquisitions. For the UBS AST Commercial Real Estate Switzerland a 100% allocation could be made. The investor base has also broadened and now stands at around 300.