In April, UBS Global Asset Management (UBSGAM) small caps team portfolio manager John Campbell and investment analyst Jeremy Bendeich indicated they were leaving the three-member investment team and started up a boutique funds management firm, Avoca Investment Management, with the support of Bennelong Funds Management. S&P placed the fund on hold following the departure of the two members.
"While UBSGAM has been quick to hire the experienced professional Victor Gomes to support incumbent member Stephen Woods, the team is currently operating at below its previous resourcing level while the business actively seeks a third team member," S&P analyst John Huynh said.
