UBS replaces small caps defector
UBS Global Asset Management (UBS) has moved swiftly to shore up the gap in its small caps team by reassigning senior analyst Mark Buizen as joint portfolio manager alongside existing small cap analyst Kuan Oh.
The pair will jointly manage the assets of the UBS Emerging Companies Fund, which has $20 million in assets under management after launching at the end of March.
Buizen replaces UBS small cap portfolio manager Michael Cowin who left recently to join AMP Capital Investors in its small caps investment team.
Buizen has been with the group for over 8 years, having joined as a material equities analyst from Armstrong Jones Asset Management back in 1996.
Buizen has an aggregate of 20 years industry experience, while Oh, who also has a number of years experience, joined the group five years ago.
UBS announced the move to a forum of research houses and dealer group researchers yesterday in light of Assirt Research placing the Emerging Companies Fund ‘on hold’ earlier in the week after Cowin’s departure was announced.
Other small cap managers to jump ship in recent times include BT Financial Group’s Matt Riordan who left to join boutique small caps firm Paradice Cooper as a portfolio manager.
Last week Macquarie Funds Management also lost two key personnel to ING Australia, with Issam Eid and Steven Ng crossing over and resuled in the group’s small caps capabilities being placed 'on hold' by Assirt.
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