UBS property securities rating improves
UBS Global Property Securities Fund’s rating has been upgraded to three stars, due to an extensive recruiting campaign to stabilise the team after its ratings suffered from numerous high-level departures in 2006. Adviser Edge Investment Research improved the rating to three stars from two-and-a-half.
The staff replacements included the appointment of Roddy Sloan, a new global head of real estate funds of funds and securities, two senior investment analysts, two co-heads of Global Real Estate Securities in Europe, and two new portfolio managers.
Five senior staff left the fund in early 2006, including the former head of Global Real Estate Securities for Australia.
Adviser Edge noted that UBS’ ability to retain key staff was still a risk and they would continue to monitor its situation.
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