UBS to acquire Fondvest AG.
UBS Asset Management is to acquire Fondvest AG, an asset management company specializing in independent advisory and distribution services in the fund business. Fondvest AG offers clients such as banks, insurance companies and asset managers, but also private individuals, access to a comprehensive range of funds from Swiss and foreign providers. With this move, UBS is securing access to an independent service platform in the dynamic growth market of open fund distribution.
With the asset management firm Fondvest AG, founded in 1993, UBS is securing access to an independent service platform in the growth market of open fund distribution, and is thus further expanding its open fund architecture. UBS and Fondvest AG have agreed not to disclose the price of the transaction.
Fondvest AG's business principles are independence and transparency in fund analysis and distribution. This strategic orientation will be maintained. UBS's takeover of 100% of the share capital secures the basis for the further growth of Fondvest AG both in Switzerland and abroad. Fondvest AG will therefore continue to be managed as an independent company under its existing name, and will retain its management team.
Independent and professional provider of third-party funds
As a business-to-business solution, Fondvest AG is primarily oriented towards banks, insurance companies and asset managers that want a simple way to offer their clients a comprehensive and independent range of funds from a single source. The company offers - via a central trading and advisory platform - access to over 1,600 investment funds from 60 domestic and foreign fund providers. In addition, the distribution partners also have at their disposal professional services in the areas of independent fund analysis and recommendation, asset management, fund distribution and training. Fondvest AG also provides fund-based products and asset management services to private and institutional clients.
The firm is based in Zurich, and employs 35 people.
Basel/Zurich, 7 November 2000