A full range of fund administration services, from assistance with fund set-up, distribution support, NAV calculation and reporting, will be offered, with the initial focus on services for hedge fund managers, fund promoters and family offices.

Located in the UBS office at Two IFC in Hong Kong, the office will initially be staffed by a team of three, although there is scope for expansion in line with the growth of the business.

Commenting on the opening, the new Head of Business Development for Asia Pacific, Michelle CHUA, said: "Many of our clients are global managers who are well-established in Hong Kong. It makes perfect sense for us to be close to our clients, and the single point of contact in their time zone."

"The opening of an office in Hong Kong is strategically important for the Fund Services business. From Hong Kong, we can offer a multi-lingual client service coupled with in-depth knowledge of the funds industry in various jurisdictions, augmented by strong technical skills, all of which enhance the service we offer our clients," said André VALENTE, Global Head of Business Development and Client Relationships for Fund Services.

"Given the cross-business co-operation throughout UBS, I am confident that having a team on the ground in Hong Kong will bring benefits to clients from across UBS, providing opportunities to cross-sell and increase the range of services available," added Gerhard FUSENIG, Global Head of Fund Services.