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UBS splitting hedge fund business

Date: Friday, August 23, 2013
Author: James Langton, Investment Executive

Move allows single- and multi-manager divisions to operate as distinct boutiques

By James Langton |

UBS Global Asset Management is splitting its hedge fund business into single- and multi-manager divisions.

The bank says that the split into: Alternative Investment Solutions, the multi-manager and hedge fund advisory business; and, O'Connor, the single manager hedge fund business.

"The move allows each business to operate as distinct entrepreneurial boutiques something that is increasingly important for our clients," said John Fraser, chairman and CEO of UBS Global Asset Management. "It also provides focused leadership to drive the further growth of these successful alternatives businesses, a key strategic priority for UBS Global Asset Management."

The Alternative Investment Solutions (AIS) business focuses on creating global diversified products, and the bank says it will be expanded with additional entrepreneurial businesses in the alternatives sector. It has US$25.4 billion in assets under management, and has investment teams are located in Stamford/New York, London, Zurich, Hong Kong and Tokyo.

The O'Connor business, which is dedicated to absolute return investment management, has AUM of US$5.2 billion. It has offices located in Chicago, London, New York, Hong Kong and Singapore.