UBS Islamic Global Equities Fund
Last week, I received a notice from our HR Department (Benefits and Compensation), informing that the UBS Islamic Global Equities Fund will be closed effective 17 October 2011.
Since 2009, I have volunteered to invest 10% of my basic salary (plus additional equal match as my employer’s contribution) to the following plans:
To date, below is the performance (rate of return) of my fund.
With the closure of ‘Islamic Global Equities Fund’ I have reallotted the 30% share of the said fund to make both my ‘Global Stock Index Fund’ and ‘U.S. Fundamental Value Fund’ each at 50% with my monthly contribution.
With the trend still downwards in lieu of (another) global economic recession, particularly with Europe showing signs of slowdown — this mutual funds “game” is really risky.