Wed, Nov 25, 2015
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. Other Voices: Hedge fund marketing and the selling cycle[more]

    By Bruce Frumerman. How long is the selling cycle now? That’s a question my financial communications and sales marketing consulting firm has been asked on a regular basis by hedge fund firm owners and sales people, ever since we opened the doors to our firm in 1987 pre-crash. Wa

  2. Investing - BlackRock targets ETF investors with flexible currency hedging, Nelson Peltz bets on General Electric Company and Mondelez International, Apple plummets to 4th place among hedge holdings, from No. 1, Top Q3 equity purchases and sales of top 50 hedge funds[more]

    BlackRock targets ETF investors with flexible currency hedging From BlackRock Inc., the world’s largest asset manager, is changing course on exchange-traded funds that protect against currency volatility. After stressing the easy switch between hedged and unhedged ET

  3. BlackRock is shutting down its Global Ascent macro fund[more]

    Komfie Manalo, Opalesque Asia: BlackRock, the world’s largest asset manager, has announced plans to shut down a macro fund, Global Ascent Fund, because of "headwinds facing the industry". The hedge fund, which makes bets on stock, bond and currency markets, will return money to investors. Ac

  4. Opalesque Roundtable: Seeding deal terms can be onerous for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Executives from fund of funds firms, family offices, a placement agent, a private equity firm, and an accounting firm gathered in Connecticut last month for the

  5. Opalesque Roundtable: Family offices flock to co-investment[more]

    Bailey McCann, Opalesque New York: Co-investments have been a hot topic for pension funds in recent years, as they try to move away from high fees and improve transparency. But now, family offices are more readily getting into the mix and establishing in-house deal teams, according to the delega