Launches & Closures

UBP revamps funds of funds business to accommodate new liquidity requirements

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Union Bancaire Privée has initiated a number of measures to restructure and rebuild its funds of funds business in the wake of the Madoff affair. A spokesman for the Swiss private bank confirmed that the bank is restructuring and transforming its fund of hedge fund products by closing some of them and by restructuring the others, or in some cases creating new ones.

"Our range of funds of funds is adapting to face the demand for liquidity, whilst, in the interests of treating clients equally, constantly ensuring the integrity