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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.”


Equitable in new compensation offer

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Lenders fear EU credit squeeze

Lenders are warning that half the UK mortgage market could be affected by a restrictive new European directive on consumer credit which may be fast-tracked into legislation.Standard Life Bank says the directive risks wiping out remortgaging, equity release and offset and flexible mortgages or making them more expensive. The bank is also worried that the […]

Kelland steps down at Burns-Anderson to set up franchise

Burns-Anderson founder and former chairman and chief executive Steve Kelland has stepped down after 14 years with the network.Kelland, who recently quit as Burns-Anderson chief executive to make way for Ian Parsons as part of the transition to a new management team, retired as chairman last week.He has been replaced by Colin Parker, who joined […]

Derbyshire moulds Norwich bond in its own image

Derbyshire Building Society has established a combination product that consists of a high-interest account and a unit-linked bond. The Derbyshire dual bond places 30 per cent of investors&#39 capital into the high-interest account element, which is fixed at 7 per cent gross for one year. The remaining 70 per cent of capital will go into […]

Don’t play chicken with the Bank of Japan

By Josh Ausden, Head of Client Investment Strategy, Neptune Short-term yen strength has hurt the Neptune Japan Opportunities Fund but recent events have only added weight to our conviction that the Bank of Japan will act to ease policy, boosting multinationals’ profits and weakening the yen. In recent weeks the performance of the Japanese stockmarket […]


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