UBS Asset Management granted Private Fund Management license in China
July 13 2017 - 6:30AM
Business Wire
UBS Asset Management becomes the first Qualified Domestic
Limited Partner (QDLP) license-holder to receive a Private Fund
Management license in China. Fully-fledged set-up and requisite
licenses enable UBS Asset Management to provide a broad range of
services to onshore and global clients.
UBS Asset Management today announced that its wholly
foreign-owned enterprise (WFOE), UBS Asset Management (Shanghai)
Limited, has been granted a Private Fund Management (PFM) license
from the Asset Management Association of China (AMAC). The license
allows the WFOE to offer onshore fixed income, equity, and
multi-asset private funds to both institutional and high net worth
investors in China.
"China is a key growth market for UBS Asset Management. Our goal
is to be a leading asset manager in China for both onshore and
offshore investors and a strong partner to Chinese clients
investing overseas," said Ulrich Koerner, President of UBS Asset
Management.
"UBS Asset Management is the first international manager with a
QDLP quota to receive a PFM license in China’s onshore market.
Securing the license expands the breadth and depth of our domestic
offering, complements our offshore capabilities and, importantly,
demonstrates our continued support of China in its efforts to open
its capital markets to the world," said Rene Buehlmann, Group
Managing Director, Head Asia Pacific at UBS Asset Management.
"UBS Asset Management has been serving China investors since the
1990s. With the addition of the PFM license, augmented by our other
platforms in China, we can provide a broad range of services to
onshore and global clients. It also allows us to work more closely
with subsidiaries of global firms in China to meet their domestic
investment needs," he added.
In 2005, UBS AM entered into a joint venture with the State
Development & Investment Corporation (SDIC), to form UBS SDIC
Fund Management Co. Ltd, which offers onshore mutual funds. In
addition, in 2011, UBS Asset Management (China) Limited was
established as WFOE in Beijing to provide investment management and
advisory services for alternative investment.
"With the continued liberalisation of China’s economy, domestic
investors can be expected to seek to diversify their investments
across a broad and expanding range of traditional and alternative
asset classes and geographies. UBS is well positioned to help them
build portfolios which not only have the potential to generate
reasonable returns but also diversify downside risk," explained
Aries Tung, Managing Director, Head of Strategy and Business
Development, China, at UBS Asset Management.
"We are committed to establishing a market-leading private fund
platform in China supported by local infrastructure, best-in-class
client services, and rigorous risk management," he added.
About UBS
UBS provides financial advice and solutions to wealthy,
institutional and corporate clients worldwide, as well as private
clients in Switzerland. The operational structure of the Group is
comprised of our Corporate Center and five business divisions:
Wealth Management, Wealth Management Americas, Personal &
Corporate Banking, Asset Management and the Investment Bank. UBS's
strategy builds on the strengths of all of its businesses and
focuses its efforts on areas in which it excels, while seeking to
capitalize on the compelling growth prospects in the businesses and
regions in which it operates, in order to generate attractive and
sustainable returns for its shareholders. All of its businesses are
capital-efficient and benefit from a strong competitive position in
their targeted markets.
UBS is present in all major financial centers worldwide. It has
offices in 54 countries, with about 34% of its employees working in
the Americas, 35% in Switzerland, 18% in the rest of Europe, the
Middle East and Africa and 13% in Asia Pacific. UBS Group AG
employs approximately 60,000 people around the world. Its shares
are listed on the SIX Swiss Exchange and the New York Stock
Exchange (NYSE).
Disclaimer
This document and its contents have not been reviewed by,
delivered to or registered with any regulatory or other relevant
authority in any jurisdiction. This document is for informational
purposes and should not be construed as an offer or invitation to
the public, direct or indirect, to buy or sell securities. This
document is intended for limited distribution and only to the
extent permitted under applicable laws in any jurisdiction. No
representations are made with respect to the eligibility of any
recipients of this document to acquire interests in securities
under the laws of any jurisdiction.
Using, copying, redistributing or republishing any part of this
document without prior written permission from UBS Asset Management
is prohibited. Any statements made regarding investment performance
objectives, risk and/or return targets shall not constitute a
representation or warranty that such objectives or expectations
will be achieved or risks are fully disclosed. The information and
opinions contained in this document is based upon information
obtained from sources believed to be reliable and in good faith but
no responsibility is accepted for any misrepresentation, errors or
omissions. All such information and opinions are subject to change
without notice. A number of comments in this document are based on
current expectations and are considered “forward-looking
statements”. Actual future results may prove to be different from
expectations and any unforeseen risk or event may arise in the
future. The opinions expressed are a reflection of UBS Asset
Management’s judgment at the time this document is compiled and any
obligation to update or alter forward-looking statements as a
result of new information, future events, or otherwise is
disclaimed.
You are advised to exercise caution in relation to this
document. The information in this document does not constitute
advice and does not take into consideration your investment
objectives, legal, financial or tax situation or particular needs
in any other respect. Investors should be aware that past
performance of investment is not necessarily indicative of future
performance. Potential for profit is accompanied by possibility of
loss. If you are in any doubt about any of the contents of this
document, you should obtain independent professional advice.
Source for all data and charts (if not indicated otherwise): UBS
Asset Management.
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