UBS Working Capital Fund Faces Further Devaluation: HB

A position of UBS’s Working Capital Finance Opportunistic Fund was devalued by 91%, Handelsblatt reports, citing a letter from UBS to clients.

• Position, which isn’t linked to First Brands, accounted for about 5% of the fund’s assets
• “Our priority remains to take all necessary measures to protect customer interests and achieve maximum repayment,” UBS comments to Handelsblatt
• NOTE Nov. 7: UBS Winds Down O’Connor Funds in Sign of First Brands Strain

To contact the reporter on this story:
Laura Alviž in Frankfurt at lalviz1@bloomberg.net

To contact the editors responsible for this story:
Anton Wilen at awilen@bloomberg.net

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