UBS has delayed its plans to launch UK Growth and UK Equity Income funds into the retail market afte...
UBS has delayed its plans to launch UK Growth and UK Equity Income funds into the retail market after the resignation of managers Hugh Sergeant and Hari Sandhu.
The launch was to have taken place in June but has been reset for September.
Sergeant, who was to have run the UBS Global Asset Management UK Growth fund, and Sandhu, who was to have been manager of the UK Equity Income fund, have both joined SG Asset Management.
The pair have been running institutional mandates at UBS for a number of years and have built up solid reputations. No decision has yet been taken on who will now head-up the funds
SG said Sergeant and Sandhu will not be running the UK Growth fund, until recently managed by Peter Seabrook, as had been anticipated. Instead, they will manage institutional mandates.
The arrival of the pair strengthens SG's fund management team, which has been depleted by the departures of Seabroook, UK smaller companies manager Jane Simmonds and European fund manager Dino Fuschillo.
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