Uncertainty leaves UBS Small Caps 'on hold'
Standard & Poor’s Fund Services (S&P) has placed the UBS Australian Small Companies Fund ‘on hold’ due to uncertainties about the make up of its team.
UBS Global Asset Management confirmed that two members of its three-person small-cap team had expressed their intention to leave the firm, and the manager was in discussions with both, according to S&P.
“Given the uncertainty of the current situation, we have placed the UBS Australian Small Companies fund ‘on hold’,” said S&P Fund Services analyst James Gunn.
“We are monitoring the situation and will assess whether any further rating action is warranted once UBS is in a position to provide us with further information,” he said.
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