UBS AM cuts fees of over 200 ETFs as Credit Suisse integration offers 'increased scale'

investmentweek.co.uk:

UBS reported losses last year due to the integration of Credit Suisse, following the acquisition in March 2023.

The $252m Ireland-domiciled UBS ETF MSCI World UCITS ETF was cut from 0.30% to 0.10%, according to a document published by UBS AM. The TER now matches that of the HSBC MSCI Europe UCITS ETF, making both funds the cheapest MSCI ETFs in Europe.

With an AUM of $3.7bn, the UBS ETF S&P 500 ESG UCITS ETF was the largest fund to have a fee cut, with its TER cut from 0.12% to 0.10%

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The $3.7bn UBS ETF MSCI Emerging Markets UCITS ETF followed a fee reduction from 0.23% to 0.18%.

UBS reported losses last year due to the integration of Credit Suisse, following the acquisition in March in 2023.

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Clemens Reuter, head of ETF and index fund client coverage at UBS AM, said: «Following the acquisition of Credit Suisse, we have an exciting opportunity to leverage our increased scale to unlock benefits for our clients.

»As the largest European-based manager of Indexed solutions, we are able to reduce the cost of ownership across a wide range of our ETFs, while maintaining our commitment to the highest quality."

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