Swiss bank UBS plans to dismantle a $6 bn (EUR 4 bn) real estate fund by selling property assets and returning the proceeds to the fund's investors. The Zurich-based lender believes the sale to be in the best interest of investors because it creates liquidity quickly, while preserving value, Dow Jones Newswires said, quoting a letter that the bank sent to clients this week. The fund, which is run by UBS' private bank, will carry out the sales over a 'reasonable period of time', the bank added.
Premium subscriber content – please log in to read more or take a free trial.
