James Hay has added the UBS US 130/30 Fund to its wrap platform.
The addition takes the number funds available on the James Hay Wrap to 1,151 – from 50 providers.
Listed in the IMA North America sector and benchmarked against the Russell 1000 index, the UBS 130/30 Fund holds 50 to 70 positions in a long-only stock basket and 30 to 50 in a short position basket.
It moves between 120% and 140% on the long side, and 20% to 40% for short.
James Hay regional sales director Shaun Sandiford says the 130/30 is the second UBS fund recently added to the James Hay wrap platform.
“130/30 funds have been strongly embraced in the US and many are saying they are set for a big take-off in the UK funds industry,” he says.
Investors using James Hay Wrap can now choose between retail and institutional funds, OEICS and unit trusts.
James Hay SIPP and wrap businesses have over £12bn under administration.
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