UBS Asset Management has confirmed that it is launching a UK fixed income fund in the second quarter, representing the first product in a new UK passive fund range for retail investors.
“Building on our already well-established passive capability, we are in the advanced planning stages of bringing to market a new passive fixed income fund to the UK retail market,” Steve Hutton, head of UK wholesale, told WealthBriefing.
Following the launch of the bond fund - which remains subject to internal and regulatory approval - the Swiss bank said it will look to extend its passive fund range in the fixed income and equity arenas.
The move to bring its existing passive strategies to retail investors in the UK is in response to demand from clients, it said. The offering currently includes seven multi-asset funds, which the firm said have been successful in the US, Japan and Europe.
Meanwhile, UBS said it also plans to bring the capabilities of its US-based global investment solutions team to the UK, targeting the restricted advice market in particular.
In other news, earlier this month the firm listed three exchange-traded funds on the London Stock Exchange. The funds are physical replication ETFs, where the manager buys the underlying assets of the index. They are based on Solactive commodities indices and will give investors access to gold, copper and oil.