Published by Finews.asia – 20th Nov 2017
After receiving its private fund management license earlier this year, UBS became the first foreign asset manager to launch an onshore equity fund for local investors in China.
Swiss bank UBS said the Shanghai subsidiary launched «UBS (CN) China Equity Private Fund Series 1». UBS became the first foreign asset manager to sell an onshore equity fund in China, hard on the heels of becoming the first foreign bank to receive a private fund management license in July 2017, as reported by finews.asia.
China Liberalizing Its Market
The fund will invest primarily in the A-share market and is available to both qualified institutional investors and high-net-worth individuals (HNWIs) based in China, UBS said in a press release.
Zizheng Wang will act as the fund’s portfolio manager, while Adrian Chen, former head of China Wholesale at UBS was appointed as general manager of UBS Asset Management (UBSAM) in the region.
«China is an important growth market for UBSAM and we are committed to bringing domestic clients a new range of services and offerings,» said Rene Buehlmann, head of Asia Pacific at UBSAM.
