Hong Kong
14 July 2017
Reporter: Barney Dixon
UBS secures Chinese private fund management license
UBS Asset Management has been granted a private fund management license from the Asset Management Association of China (AMAC).

The license will allow UBS’s wholly foreign-owned enterprise, UBS Asset Management (Shanghai), to offer onshore fixed-income, equity, and multi-asset private funds to investors in China.

UBS Asset Management is the first qualified domestic limited partner licence holder to receive a private fund management licence in the country.

UBS entered into a joint venture with the State Development & Investment Corporation (SDIC) in 2005, forming UBS SDIC Fund Management. In 2011, the Shanghai enterprise was formed, helping to secure the company’s reach into China.

Rene Buehlmann, group managing director and head of the Asia Pacific region at UBS Asset Management, said: "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."

He added: "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."

Aries Tung, managing director and head of strategy and business development for China at UBS, said: “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.”

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
BNY Mellon recruits for alternative investment team
21 July 2017 | New York | Reporter: Jenna Lomax
BNY Mellon has made two senior appointments to its alternative investment services team
New recruits for BNY Mellon's alternative investment team
21 July 2017 | New York | Reporter: Jenna Lomax
BNY Mellon has made two senior appointments to its alternative investment services team
New recruits for BNY Mellon's alternative investment team
21 July 2017 | New York | Reporter: Jenna Lomax
BNY Mellon has made two senior appointments to its alternative investment services team
Euroclear sees strong H1 asset growth
21 July 2017 | Frankfurt | Reporter: Jenna Lomax
Post-trade service provider Euroclear saw its asset under safekeeping increase by 5 percent to €28.4 trillion in the first half of 2017
Record AuC figures for BNY Mellon
21 July 2017 | New York | Reporter: Stephanie Palmer
BNY Mellon recorded high levels of assets under custody and administration in Q2 2017, reaching $31.1 trillion
LSEG and IBM partner for SME blockchain
20 July 2017 | London | Reporter: Drew Nicol
The framework will be built on Hyperledger Fabric version 1.0 and hosted by The Linux Foundation
Northern Trust commits to EU hub
19 July 2017 | Luxembourg | Reporter: Stephanie Palmer
Northern Trust is set to establish a banking presence in Luxembourg, and has appointed a new head of continental Europe, in a move that it says is “further establishing its commitment to the region”
More news