Boussard & Gavaudan, an Anglo-French absolute return investor, has appointed UBS as a sixth prime broker to its flagship fund as hedge fund managers continue to diversify their sources of financing for trades.

UBS joins Morgan Stanley, Credit Suisse, Deutsche Bank, Merrill Lynch and Goldman Sachs as prime brokers to the $2.1bn (€1.4bn) Sark fund, according to a regulatory statement to the London Stock Exchange. UBS' appointment took effect from yesterday.