UBS: Objections to fund merger rejected
Investors had lodged an objection with the supervisory authority against the merger of the UBS Living Plus, Hospitality and Residentia funds. It is not yet clear whether they will now go to the Federal Administrative Court.
The supervisory authority has rejected objections to the planned merger of three UBS real estate funds. This was announced by UBS Fund Management (Switzerland) AG in a press release.
On June 25, UBS announced a procedural delay in the approval of the merger of the three funds UBS Living Plus, Hospitality and Residentia (IB reported). Investors with less than 0.1% of the capital in the UBS Living Plus fund had exercised their right to object to the relevant amendments to the fund contract.
An appeal against the decision of the supervisory authority can now be lodged with the Federal Administrative Court within 30 days.
