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Alternative Market Briefing

UBS AM receives license from China

Monday, July 17, 2017

Benedicte Gravrand, Opalesque Geneva:

UBS Asset Management's 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. UBS Asset Management is the first international manager with a QDLP quota to receive a PFM license in China's onshore market.

"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.

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.......................

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