The research house had put the fund on hold in October 2009 when its co-portfolio managers resigned and management was transitioned to the Australian equities team.
In June 2010, the fund's strategy changed to include a concentrated 15 per cent strategic allocation to global real estate investment trusts by accessing UBS's global real estate securities capability.
Jakov Males now manages the fund and is also the portfolio manager for UBS's High Alpha Long Term Opportunity Fund, a high-conviction concentrated Australian equities fund.
He was joined by UBS's dedicated real estate securities analyst Vinay Narsi in late 2009.
"UBS's property securities team has experienced successive changes in personnel and reporting structures since 2006 and, in our view, a period of stability is desperately needed," S&P analyst Kelly Napier said.
