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  1. Wealth
April 22, 2009

WSJ: UBS admits Weavering money is lost

By Spear's

UBS AG, the world’s second-largest investor in hedge funds, has become the first high-profile name to appear as a victim of the collapse last month of London hedge-fund manager Weavering Capital U.K. Ltd. and its flagship fixed-income fund.

From the Wall Street Journal:

UBS AG, the world’s second-largest investor in hedge funds, has become the first high-profile name to appear as a victim of the collapse last month of London hedge-fund manager Weavering Capital U.K. Ltd. and its flagship fixed-income fund.

UBS Global Asset Management last month wrote to investors in its 225 million Swiss franc ($192.5 million) Alternative Portfolio AG about its 0.9% exposure, amounting to about 2 million francs, to Weavering’s Macro Fixed Income Fund.

To read the full article, visit wsj.com
 

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