UBS sees another fund manager leave

UBS Asset Management has seen a third fund manager leave in the run-up to the launch of its retail business. Institutional segregated mandate manager Tony Dalwood leaves the UK equities team which lost fund managers Hugh Sergeant and Hari Sandhu to SG Asset Management earlier this year. Dalwood did not figure in the group's retail launch plans, which will see UK growth, managed, and global growth funds launched later this year. It is also looking to bring out a US equity fund.