UBS said to close feeder fund

UBS shut down a feeder fund that provided wealthy clients access to billionaire investor John Paulson's Advantage fund due to the high cost of operating that portfolio, two sources said last week.

Reuters reports that the bank shut down the feeder fund on July 31, the sources said.

But UBS clients would still have a way into the $2.8bn Advantage fund or the Paulson Partners fund through a separate 'UBS share class', one of the sources said.

To access the complete Reuters article hit the link below:

UBS closes feeder fund into Paulson Advantage portfolio - sources

UK starting salary growth hits 18-month low in July - REC/KPMG survey

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News