02:18 PM EDT, 08/16/2024 (MT Newswires) -- UBS (UBS) unit UBS Asset Management entered an agreement to transfer its Quantitative Investment Strategies business to Manteio Partners, according to a statement Friday.

The business has approximately $1.5 billion in assets under management. The QIS portfolio management team will operate as a group within Manteio, the firm said.

The transaction is expected to close in Q4, according to the statement.

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