UBS Asset Management has announced it will liquidate its UBS (Irl) Fixed Income Global Opportunities Fund, a sub-fund of Ireland-domiciled fund range UBS (Irl) Investor Selection plc, on 31 January 2017.
The company said it was “not viable” to pursue the management of the sub-fund.
The UBS (Irl) Fixed Income Global Opportunities Fund aimed to maximise total return by investing its assets across a wide range of fixed income securities, currencies and derivatives.
Returns targeted were 6% p.a, in excess of one-month USD Libor return over the course of a market cycle.
As of 31 March 2016, the fund had $119.1m (€114.6m) of assets under management.