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UBS looks long term with US equity fund

UBS Global Asset Management is offering a US equity fund as part of a stable of at least 12 funds which it plans to launch over the next three years.

This is the fourth retail fund to be set up by the firm this year.

The fund will be managed by Chicago-based Tom Digenan, an executive director of UBS Global Asset Management, who will be supported by a team of 31.

The aim of the fund is long-term capital growth through the active management of a diversified portfolio primarily invested in US equities.

Minimum investment is £1,000 or £50 a month. Initial charge is 4 per cent and annual charge is 1.5 per cent.

Head of UK retail Graham Kane says: “We believe there is currently real value and real investment opportunity in the US market and think that now is a good time to launch a US fund. There is definitely room in the UK retail market for a US fund that is managed out of the US with an experienced US-only fund manager.”

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