UBS Global Asset Management announced on Wednesday that it will be taking its first step into the UK retail market this summer, with the launch of two domestic equity funds in June.
Speaking to the Reuters news service on Tuesday, head of the UK retail arm at UBS Global Asset Management, Graham Kane explained the reasoning behind the move: 'With our global strength in both retail and institutional investment, it makes perfect sense to move into the UK market.'
Reports have tipped the company's head of UK equities, Hugh Sargeant, and head of specialist UK stocks, Hari Sandhu as the managers for the UK Growth Fund and UK Equity Income Fund respectively.
Analysts have suggested that numbers for institutional funds previously managed by the pair bode well for the new UK retail offerings. However, according to Reuters, concerns still remain in some quarters.
'They are really going to have to focus on building good performing product,' Cerulli Associates consultant, Thomas Marsh was quoted as observing on Tuesday.
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