FYI: UBS Wealth Management Americas is preventing some clients from investing in Pimco funds following the abrupt departure of the money manager's co-founder and chief investment officer, Bill Gross, according to an employee with knowledge of the action.
A number of broker-dealers routinely put funds on a so-called “watch” list when management changes occur.
But UBS' decision appears to mark the first time some flows have been blocked to Pimco by a wirehouse.
Regards,
Ted
http://www.investmentnews.com/article/20141007/FREE/141009928?template=printart
