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UBS said to close feeder fund

(Reuters) – UBS shut down a feeder fund that provided wealthy clients access to billionaire investor John Paulson‘sAdvantage fund due to the high cost of operating that portfolio, two sources said last week.

Reuters reports that the bank shut down the feeder fund on July 31, the sources said.

But UBS clients would still have a way into the $2.8bn Advantage fund or the Paulson Partners fund through a separate ‘UBS share class’, one of the sources said.

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