UBS Global Asset Management has launched the UBS Sterling Corporate Bond Indexed fund as part of its range of passive fixed income funds.
The fund will look to achieve returns linked with the performance of the Markit iBoxx Sterling Non-Gilts Index and will invest largely in fixed income securities.
Both accumulation and income shares are available on the new fund and income will be paid quarterly.
The fund will be managed by the passive fixed income team at UBS, who also liase closely with the management team on the active fixed income portfolios.
UBS head of UK wholesale Steve Hutton says: “Our fixed income offering is a significant strength for UBS and we are pleased to respond to our clients’ needs by launching this new capability. We have been running passive strategies for over 30 years across asset classes, against both standard indices and customised benchmarks. We believe that this experience sets us apart from many of our competitors.”