UBS continues to streamline range by closing Global Diversified fund

UBS Global Asset Management has closed its UBS Global Diversified fund as it continues to streamline its UK fund range.

The fund, at only £15.8m, had become uneconomical for the firm to continue running, Investment Week understands. The fund was managed by Andreas Koester, who will remain at the group and continue running the UBS Global Allocation fund. Investors in the Global Diversified fund will be able to switch into any alternative UK OEIC offered by the asset manager at no additional cost. UBS Global Asset Management has been consolidating its fund range since last year in an effort to avoid running uneconomical offerings. The most recent fund to be closed was its European Equity fund in Se...