Phillips & Drew (P&D) is adamant that it will stick to a value strategy in the UK, despite the expansion of its product range since being merged with UBS Asset Management.

P&D, which falls under a global umbrella with Brinson Partners, now has a wider range of products at its disposal. The reorganisation enables both houses to extend their offerings to growth equities investment as an alternative to the beleaguered 'value' strategy that they have pursued in recent years. UBS Asset Management, the fifth largest manager worldwide has $400bn (€428bn) under management, but only $7bn (€7.49bn) is reportedly held in growth funds.