UBS given thumbs up by Assirt

UBS Asset Management (UBSAM) has started the new year on a positive note after research house Assirt handed the group a solid overall rating and awarded its Australian equities division a five-star ranking.

Assirt chief executive officer Krystyna Weston says although UBSAM is a quiet achiever, the group is starting to build a strong presence within the industry.

The Assirt report found the group’s decision to promote Jon Taylor to the position of chief investment officer and Paul Fiani to head of Australian equities was a strong move for the group. It is also understood that since UBSAM’s last rating, it has developed in a number of areas including asset management, business development and support.

Assirt also praised UBSAM’s Australian equity division, saying its disciplined investment process was one of the main drivers of the group’s impressive performance.

UBSAM’s international equities was upgraded from ‘weak’ to ‘competent’, its property securities sector received a ‘strong’ rating and its Australian fixed interest and cash rated as ‘very strong’.

However, the group’s ratings report card was tarnished when Assirt rated its asset allocation sector ‘weak’.