UBS Global Asset Management has soft-closed Citywire A-rated manager Max Anderl’s blockbuster European equity fund after a surge in investor interest.
The closure, which took place over the summer, came as the UBS – (Lux) Equity SICAV – European Opportunity Unconstrained fund breached €4 billion in assets under management.
This Luxembourg-domiciled strategy, which Anderl has managed since inception, currently has €4.32 billion in assets, according to the September fund factsheet.
Anderl is the head of the concentrated alpha equity and oversees several strategies, including the recently launched UBS (Lux) Equity SICAV – Global Opportunity Unconstrained fund.
The size of the fund has grown considerably in the past two years, having been below €100 million in assets in June 2013. A spokesperson said the closure was in response to this ‘significant investor demand’ in recent years.
The UBS (Lux) Equity S – European Opportunity Unconstrained fund has returned 62.49% in euro terms over the three years to the end of September 2015. This compares to a rise of 42.8% by its Citywire-assigned benchmark, the STOXX Europe 600 TR EUR, over the same period.