UBS has realised an annualised return of 46% on its investment in Ward Homes, a housebuilder based in the South East of England, by selling it to Wilson Bowden, a trade buyer, for £71m (€102m).

UBS has received 2.4 times its investment from the disposal just three years after buying the company out. The relatively quick exit has given UBS a return far in excess of the 15% average return generated by buy-outs, according to the European Private Equity and Venture Capital Association.