UBS Global Asset Management
Chicago, IL Sept 08, 2006 -- Fort Dearborn Income Securities, Inc. (FDI) (the "Fund") today announced that UBS Global Asset Management Managing Director Thomas Clarkson will assume lead portfolio management duties of the Fund on October 1, 2006.
Mr. Clarkson has been with UBS Global Asset Management since 1991 and is Head of US Long Duration Fixed Income investments. He is responsible for the US Long Bond desk and sets the strategy for US Bond and Core Plus accounts. In this capacity, Mr. Clarkson has been involved in the Management of the Fund as a senior member of UBS Global Asset Management's fixed income team of 133 professionals(1) that oversees more than $200 billion(1) world-wide. Current Fund manager, Craig Ellinger, remains with the team and will assume global credit research management duties.
Fort Dearborn Income Securities, Inc. is a closed-end bond fund managed by UBS Global Asset Management (Americas) Inc. The Fund invests principally in investment grade, long-term, fixed income debt securities. The primary objective of the Fund is to provide its shareholders with:
-- A stable stream of current income consistent with external interest rate conditions, and
-- A total return over time that is above what they could receive by investing individually in the investment grade and long-term maturity sectors of the bond market.
(1) Global professionals and assets, including money market as of June 30, 2006.
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