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Rating:UBS Delivers the Latest Blow to Leveraged ETFs Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, July 27, 2009

UBS Delivers the Latest Blow to Leveraged ETFs

News summary by MFWire's editors

Yet another blow was been dealt to the leveraged and inverse fund industry, with UBS being the latest to cease selling the products.

"UBS Wealth Management Americas has suspended purchases of leveraged and inverse ETFs to our clients, effective immediately, as the short-term nature of these securities is generally inconsistent with the long-term view of investing that UBS advocates when building client portfolios," UBS spokesperson Kris Kagel wrote in an e-mailed statement to The MFWire.

"In addition, recent regulatory guidance on leveraged and inverse ETFs reinforces the short-term nature of these products, particularly in volatile markets. UBS Wealth Management Americas' financial advisors have been fully briefed and our clients are being contacted regarding these securities," Kagel added.

UBS is the latest to jump on the banning bandwagon. LPL Financial restricted sales of leveraged ETFs to funds that don't exceed double long or double short positions. Ameriprise made a more sweeping ban of such products, choosing to eliminate all leveraged and inverse funds in response to FINRA's recent guidelines. 

Edited by: Meredith Mazzilli


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