Tue, Oct 21, 2014
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   |   

Banner

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. Opalesque Exclusive: What's next for trend followers?[more]

    Bailey McCann, Opalesque New York: New research out from Ibbotson touches on a key debate happening among investors and fund managers, specifically whether long term trend followers can survive in the new

  2. Commodities - Oil wreaking havoc on small-cap energy stocks sliding 36%[more]

    From Bloomberg.com: Owning almost anything in the U.S. stock market has been a losing proposition since September. Owning smaller energy companies has been a catastrophe. Hercules Offshore Inc. and Resolute Energy Corp. are among 19 oil-and-gas equities in the Russell 2000 Index that lost more than

  3. Investing - Hedge funds favor equity long/short, Strategic bond managers hedge against further high yield sell-off[more]

    Hedge funds favor equity long/short From Securitieslendingtimes.com: Equity long/short strategies will generate good returns for hedge funds in the future, according to a panel at this year’s Risk Management Association Conference on Securities Lending in Naples, Florida. Panellists Sand

  4. Legal - Ex-hedge fund analyst weeps as judge hands down 5 year sentence, Former Columbus investment manager Steven P. Moore indicted on theft charges, SEBI confirms ban for Hong Kong hedge fund, SEC announces enforcement action against compliance officer[more]

    Ex-hedge fund analyst weeps as judge hands down 5 year sentence From Hereisthecity.com: An ex-hedge fund analyst was sentenced to 5 years in prison for his role in insider-trading scheme. The New York Post reports that former hedge fund analyst Matthew Teeple was sentenced Thursday to fiv

  5. Sparx optimistic about outlook for Japan[more]

    Benedicte Gravrand, Opalesque Geneva: According to SPARX, there are causes to be optimistic about the outlook for the Japanese market and the country's economy in general. Sparx Asset Management is a Tokyo-based asset manager, part of