UBS picks loyal staff to launch first retail funds

UBS Global Asset Management has finally launched its retail investment division and will open three of its planned retail funds to the market on June 28. Despite a sudden loss of key individuals, UBS has pushed on with its plans and is launching its UK Select, Global Optimal and Managed funds first, all of which are to be run by loyal UBS staff. It looked only a few weeks ago as though UBS' entry into the UK retail market might be on hold after two of its team, Hugh Sargeant who was head of UK equities, and Harinder Sandhu, head of specialist UK equities, left to join SG Asset Man...