IPO - SMA RELATIONSHIP TRUST

Form Type: 485BPOS

Filing Date: 2025-04-25

Corporate Action: Ipo

Type: New

Accession Number: 000110465925039344

Filing Summary: SMA Relationship Trust filed a registration statement for the public offering of its Series M Fund, which focuses on capital appreciation and current income exempt from federal income tax. The Fund is specifically designed for separately managed accounts advised or sub-advised by UBS Asset Management (Americas) LLC. The prospectus outlines that the Fund will invest at least 80% of its assets in municipal bonds, including general obligation and revenue bonds, and aims to maintain a low expense structure with a total annual operating cost of 0.00%. It is structured to cater only to clients of UBS AM's programs, emphasizing a responsive investment approach to market conditions. The document also discusses the anticipated effective date of April 30, 2025, underlining various regulatory compliance aspects and risks associated with municipal securities, such as liquidity risk, interest rate risk, and potential market volatility. Overall, this filing indicates SMA Relationship Trust's intention to expand its offerings and enhance its investment strategies for tax-exempt income.