Sun, Sep 24, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

UBS fund administration unit to focus in Asia, particularly China and Australia

Monday, July 25, 2011

Colin Lunn
Opalesque Industry Update – The newly-created fund administration unit of Switzerland's biggest bank UBS, is aimed at targeting alternative funds across Asia, particularly China and Australia as long-term targets.

In a report, Colin Lunn, head of UBS business development and client services, said that the Asian fund administration unit is looking at the “huge untapped opportunities” in China and sees the country becoming a major target market in the long term.

Last week, UBS announced that its asset management division created fund services in Singapore and Hong Kong in anticipation of a rise in hedge fund assets by six times to US$1 trillion (S$1.22 trillion) by 2016.

The Government of Singapore Investment Corp., is the largest shareholder in UBS.

With the creation of the full-service fund administration in Singapore, UBS is planning to hire between 30 and 40 staff in that country within the next three years. The bank did not disclose how many staff will be hired in the fund service office in Hong Kong.

Lunn added that initially, the centers in Hong Kong and Singapore would focus on alternative asset managers in the two countries. These include, single-manager funds and funds of hedge funds to private equity, real estate, and venture capital. But later, the unit will also be targeting long-only and traditional fund classes.

Private equity firms in Hong Kong and Singapore have already indicated positive response to the new UBS platform, it was reported.
Precy Dumlao

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. iCapital Network enters deal to acquire innovative U.S. private equity access fund platform from Deutsche Bank[more]

    Komfie Manalo, Opalesque Asia: Financial technology platform iCapital Network has entered into a definitive purchase agreement to acquire the US Private Equi

  2. Asia - Hedge funds used to love shorting China. Now, not so much, Fledgling China FoFs require careful use: NCSSF, Amac, Japanese banks turn to PE, hedge funds for returns[more]

    Hedge funds used to love shorting China. Now, not so much From Bloomberg.com: A sharp devaluation. A credit crisis. And an economic hard landing. That's what some of the biggest names in the hedge fund industry were predicting for China after the nation's stocks and currency tumbled in 2

  3. Launches - Orchard launches new credit platform, ETN based on hedge fund to launch on the LSE[more]

    Orchard launches new credit platform Orchard Platform has rolled out Deals as a part of its new platform launch. With the addition of Deals to their suite of technology solutions for loan originators and institutional investors, Orchard Platform takes the next step in their evolution. De

  4. Neuberger Berman closes $1.1bn Credit Opportunities Fund[more]

    Neuberger Berman, a private, independent, employee-owned investment manager, announced that NB Private Equity Credit Opportunities Fund LP closed on $1.1 billion of limited partner commitments. The Fund seeks to invest in the secured and unsecured debt of private equity-backed companies, primarily i

  5. Capital Dynamics launches mid-market private credit business[more]

    Capital Dynamics, a global private asset manager, has launched a dedicated Private Credit Asset Management business. Experienced industry executives Jens Ernberg and Thomas Hall have joined Capital Dynamics to co-lead the company's new private credit initiative. They are based in Capital Dynamics' N