Can UBS revive its funds business?

Julian Marshall
Published on:

The merged UBS found itself with two brand name asset managers: Brinson Partners and Phillips & Drew. Trouble was both were performing badly looking for value in markets that only rewarded growth. Investors lost their patience and finally star managers Gary Brinson and Tony Dye quit. Where do they go from here? UBS is merging the operations but keeping the names. The philosophy also stays on a bet that the pendulum has swung back and value investing will again produce results. Julian Marshall examines the chances