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UBS China JV Hit by Silver Fund Protest
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UBS China JV Hit by Silver Fund Protest
Thousands of investors in a silver fund operated by UBS’ China joint venture have lodged complaints over a decision to switch benchmarks, which led to higher losses than expected. More than 200,000 people have lodged complaints against UBS’ onshore China joint venture with state-owned SDIC Group, according to Xiaofei Bao, an online Chinese consumer protection platform. The complaint is centered around UBS SDIC Fund Management’s decision to switc…
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