James Hay adds UBS US 130/30 fund to wrap platform

James Hay has added the UBS US 130/30 Fund to its Wrap platform. The total number of funds now available on James Hay Wrap totals 1,151 from 50 different providers.

The UBS 130/30 Fund is listed in the IMA North America sector and benchmarked against the Russell 1000 index. It typically holds between 50 and 70 positions in a basket of long-only stocks and 30-50 in a basket of short positions. It moves between 120% and 140% on the long side and between 20% to 40% on the short side.

Shaun Sandiford, Regional Sales Director, James Hay, said: “This is the second innovative fund from UBS recently added to the James Hay wrap platform.

“130/30 funds have been strongly embraced in the US and many are saying they are set for a big take-off in the UK funds industry. We are delighted to make this new fund available through James Hay.”

Investors using James Hay Wrap can now choose retail and institutional funds, OEICS (Open Ended Investment Companies) and Unit Trusts at competitive and preferential terms. Together, the James Hay SIPP and Wrap businesses have over £12 billion under administration.

James Hay Wrap offers free fund switches and automatically returns rebates to client accounts. Unlike many competitors, James Hay has a philosophy that supports “any fund, in any tax wrapper at any time” and has no preferred fund houses or Investment styles. Advisers can buy any fund they and their clients choose.