UBS Asset Management is planning to sell $5 billion in assets from its Trumbull Property Fund (TPF) due to $5.7 billion in redemption requests.

The fund has been under pressure from investors concerned about its exposure to struggling retail assets.

UBS expects to pay out $500 million of these requests by the end of the year.

The bank has implemented measures to retain investors, including enhancing its loyalty program and offering fee reductions.

UBS also plans to sell $1.3 billion of its assets by the end of this year and reduce its exposure to multifamily properties.

Despite the asset sales, UBS has managed to grow the assets under management for TPF from $16 billion to $26 billion over the past five years.

The firm is also looking to make strategic acquisitions in alternative property types, such as self-storage and life sciences.

Overall, UBS is taking proactive measures to manage redemption requests and reposition its portfolio in response to the current real estate market environment.