For instance, UBS cited capital goods company Krones which last year cut costs significantly.
Among the European capital goods companies UBS is recommending investors buy are ABB and Scania.
Among the sectors that hedge funds are most overweight is capital goods, UBS notes in its report.
Regulators in Switzerland have introduced a new capital regime for UBS and Credit Suisse, the country's two biggest banks, which restricts their total leverage as well as measuring their risk-weighted assets.
Leading ETF market makers include Bank of America, UBS, Goldman Sachs and Knight Capital.
Evercore Group, Goldman Sachs, RBC Capital Markets, and UBS Securities are acting as co-managers for the offering.
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In one trade, UBS recommends overweighting mining companies relative to capital goods companies because of their more attractive valuations and lower investor weightings.
Citigroup and UBS have also raised tens of billions of capital only to have more big write-downs, necessitating the need to raise more capital.
These and dozens of other government investment vehicles from the Gulf states to the Far East are the pools of wealth that have become a source of rescue capital for troubled financial giants like UBS , Citigroup and Bear Stearns .
In the same period, UBS was also hopelessly entangled with Long-Term Capital Management.
UBS, says that three-year callable step-up bonds and capital-protected equity funds are currently in vogue.
Conversely, UBS says some economically sensitive or so-called cyclical sectors such as capital goods and autos have outperformed because of their lower exposure to troubled parts of Europe.
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In order to support high levels of wholesale funding, UBS says, banks may need to demonstrate levels of core Tier one capital, which is effectively common equity, well in excess of the levels most Eurozone banks currently hold.
One aim of the reorganisation at UBS is to stop its investment-banking arm from funding itself with inexpensive capital thrown off by the wealth-management arm.
Citigroup (nyse: C - news - people ) and UBS (nyse: UBS - news - people ) have also raised tens of billions of capital only to have more big write-downs, necessitating the need to raise more capital.
UBS's pedigree is as a Swiss private bank, protector of people's capital.
Securities, Scotia Capital, GMP Securities, Desjardins Securities, Macquarie Private Wealth, Raymond James and UBS Securities Canada.
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The second group included Goldman Sachs, Societe Generale, Barclays, Credit Agricole, BNP Paribas, Credit Suisse, Deutsche Bank and UBS. Moody's said these firms had varying risk factors, from high dependence on capital markets operations to limited liquidity and exposure to Europe.
The loss of Lehman and Bear, and the retrenchment of wannabes such as UBS, has cut out a lot of competition (though new rivals are emerging, such as Barclays Capital).
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