UBS Betting on Hedge Funds as Cure for Low Sovereign Returns

(Bloomberg) UBS Group AG is advising its wealthiest clients to stick with hedge funds even after the $2.9 trillion industry had its worst start to a year since 2008.

While the days of “double-digit and triple-digit returns” for hedge funds are over, they still generate enough to satisfy yield-hungry clients who face negative interest rates, said Mark Haefele, global chief investment officer of UBS Wealth Management.

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