UBS GAM launches 0.09% US equity tracker

UBS Global Asset Management has launched a US equity tracker with an ongoing charge figure (OCF) of 9bps to compete with established product providers.

The launch of the physically replicated UBS S&P 500 Index fund for retail clients follows a soft-launch for UBS wealth management clients in September. The sterling-denominated, UK-domiciled fund will be available on a range of third party platforms, including Cofunds, FundsNetwork, Transact, Old Mutual and Standard Life. Ian Ashment, head of structured beta & indexing, said: "We have launched the [fund] to meet client demand for efficient, cost-effective exposure to the broad US equity market. "The US remains the world's largest economy and therefore continues to be a critical are...