(Reuters) – Swiss funding financial institution UBS mentioned on Friday it is going to divest its Quantitative Funding Methods (QIS) enterprise to Manteio Companions LLC and its associates.
The QIS portfolio administration group, which oversees funds and mandates value about $1.5 billion, will switch to Manteio and function as a definite group inside the firm, UBS mentioned in a press release.
The transaction is anticipated to shut within the fourth quarter, it added.
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