Sun, Mar 18, 2018
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. Performance - Hedge fund mojo is back with investor hopes at six-year high, These hedge funds produce the most consistently great results[more]

    Hedge fund mojo is back with investor hopes at six-year high From Hedge funds on the heels of a surprisingly strong performance in 2017 are raising hopes for an encore. Investors expect their managers to return 8.5 percent in 2018, according to a Credit Suisse Group AG sur

  2. Investing - Hedge funds amass big bets against world's leading advertisers, Investor Elliott Management buys tiny stake in Wipro[more]

    Hedge funds amass big bets against world's leading advertisers From Hedge funds have amassed bearish bets of more than $3bn against the world's largest advertising companies in an attempt to profit as the industry undergoes ongoing wrenching disruption and slowing growth. Funds i

  3. News Briefs - Investcorp to launch a $100 million PE fund for Omani pension funds[more]

    Bahrain-based investment firm Investcorp will soon launch a $100 million fund dedicated to Oman's Pension Funds as part of its investment plan. 'The Opportunities Fund' will be focused on private equity investments in the U.S. and Europe and will target mid-sized companies across a broad range of se

  4. DoubleLine's Gundlach sees U.S. 10-year Treasury yield rising, weighing on stocks[more]

    From Reuters/ Jeffrey Gundlach, the chief executive of DoubleLine Capital and known on Wall Street as the "Bond King," said on Tuesday the yield on the U.S. 10-year Treasury note will likely move higher and pressure riskier assets including equities and junk bonds. Gundlach, on an

  5. SEC charges Theranos CEO Holmes with fraud[more]

    Bailey McCann, Opalesque New York: The SEC has charged Elizabeth Holmes, founder and CEO of Theranos and its former President Ramesh "Sunny" Balwani with raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about t