Dear Valued Client,

A 150 years ago in June 1862, 13 honorable Swiss merchants founded the Bank of Winterthur, marking the starting point of UBS history and establishing a banking conglomerate that would one day become Switzerland’s biggest financial institution and the world’s largest asset manager.

As we celebrate our 150th birthday, our focus is firmly turned towards the future and ensuring that we remain the bank of choice for our clients in Asia, and around the world, for many years to come.

In celebration of UBS reaching this anniversary milestone, we look back at some of the momentous events in our history; the challenges and opportunities that have made us who we are today.

Our newly appointed UBS Singapore Country Head and CEO Wealth Management Singapore and APAC Hub, Edmund Koh shares his views on wealth management in Asia and his outlook for UBS Wealth Management in Singapore.

On a global scale, George Magnus, Senior Economic Advisor from UBS’s Investment Bank, looks at the big picture and asks how ructions in the Eurozone, tensions in the Middle East and the upcoming US elections will affect the global economy in 2012.

Closer to home, Carl Berrisford, Analyst from Chief Investment Office Research, examines the spending power and habits of the Asian consumer and asks how investors can capitalize from this trend. Meanwhile, Lili Fan, Asian Credit Analyst, gives her opinion on the pros and cons of Asian bonds.

Staying in Asia, we review the findings of a recently published survey by UBS and Campden Wealth on the evolution of family offices in the region.

Elsewhere, Rene Buehlmann, Head of Investment Products & Services in Hong Kong, talks to us about investment funds, building a strategic ‘core satellite’ portfolio and offers his personal investment tips.

We hope that you continue to find UBS Perspectives useful reading. If you have feedback on any of the articles printed in this edition or suggestions for future issues, please contact the Editor at Perspectives@ubs.com.


Yours sincerely,

Kathryn Shih  
Sun