UBS Group Says UBS Asset Management Agrees To Transfer Management Of Its Quantitative Investment Strategies Business To Manteio Partners; Upon Closing, Manteio Will Assume Responsibility As Investment Manager Of QIS Funds And Mandates; Transaction Is Expected To Be Completed In Q4
Portfolio Pulse from Benzinga Newsdesk
UBS Asset Management has agreed to transfer its Quantitative Investment Strategies (QIS) business, with approximately USD 1.5 billion in assets under management, to Manteio Partners. The transaction is expected to close in Q4 2024, subject to regulatory and investor approvals.
August 16, 2024 | 2:47 pm
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UBS Asset Management is transferring its Quantitative Investment Strategies business to Manteio Partners, which involves approximately USD 1.5 billion in assets under management. The transaction is expected to close in Q4 2024.
The transfer of the QIS business to Manteio Partners is a significant move for UBS Asset Management, potentially streamlining its operations and focusing on core competencies. The transaction's completion in Q4 2024 could positively impact UBS's stock price in the short term due to the strategic realignment and potential cost savings.
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