Shanghai, 18 February 2020 - UBS Asset Management (UBS AM) today announced, UBS Asset Management (Shanghai) Limited, its wholly foreign-owned enterprise (WFOE) in China, had launched the UBS (CN) China Equity Private Fund Series 2, 3 and 7, which have completed filling with the Asset Management Association of China (AMAC). The fund series are being sold by CITIC Securities and China Wealth Management on a commission basis, with the first round of capital raising already completed.
Zizheng Wang, the portfolio manager of the products said, “UBS AM’s China Equities team creates value for investors by adhering to a mature and robust value-investing philosophy and bottom-up investment process, as well as a proprietary risk management system. In 2017, we launched “UBS (CN) China Equity Private Fund Series 1”, the first onshore equity fund managed by a foreign asset manager. The team’s onshore investment strategy and risk management capability have been fully tested by the market.”
UBS AM has more than 22 years of experience investing in China’s equity market, and manages the world’s largest China equity fund. UBS AM’s equities team holds a long-term bullish view about China’s economic growth, and adheres to a value-investing philosophy in pursuit of long-term returns based on fundamentals and profit growth.
Bin Shi, Head of China Equities, UBS AM, said, “There are lots of opportunities in China’s equity market, where many high-quality companies have attractive valuations. New economy industries including consumer, healthcare and information technology, are potential beneficiaries of China’s economic restructuring. In particular, the number of Chinese companies with global competitiveness is increasing, which will bring attractive investment opportunities.”
Commenting on the cooperation with CITIC Securities, Adrian Chen, General Manager of UBS Asset Management (Shanghai) Limited, said, “The partnership between UBS AM and CITIC Securities is an alliance between giants and a milestone in the development of UBS AM’s domestic business. It is also a testament to the confidence domestic partners and investors have in UBS AM's investment capability and style.”
Adrian Chen added that the fundraising process benefited from UBS Asset management's leadership position in China equity strategy, and the outperformance of its onshore and offshore products.
As WFOEs issue products and carry out businesses in China, the investment styles, philosophies, process systems and risk control standards of foreign asset managers have, increasingly, become accepted by the local market, added Chen. Over the last year or so, increased understanding and cooperation between fund managers and investors has provided momentum to value investing in the A-share market.
Since it received a Private Fund Management (PFM) license in 2017, UBS AM has registered 13 private fund products, and is number-one in terms of products offered by WFOEs. In 2019 , UBS AM registered six products with regulatory authorities. UBS AM recently announced that it had completed filling with AMAC, which would allow it to provide investment advisory services to third-party institutions.
Notes for editors
UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. UBS' strategy is centered on our leading global wealth management business and our premier universal bank in Switzerland, enhanced by Asset Management and the Investment Bank. The bank focuses on businesses that have a strong competitive position in their targeted markets, are capital efficient, and have an attractive long-term structural growth or profitability outlook.
UBS is present in all major financial centers worldwide. It has offices in 50 regions and locations, with about 31% of its employees working in the Americas, 32% in Switzerland, 19% in the rest of Europe, the Middle East and Africa and 18% in Asia Pacific. UBS Group AG employs over 67,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).