UBS Asset Management (UBS AM) announces that its UBS (Lux) Bond SICAV - China Fixed Income (RMB) fund has exceeded USD 1 billion in assets under management, demonstrating a significant increase in investor interest in Chinese bonds in 2020.
The fund provides easy and direct access to Chinese renminbi-denominated domestic bonds. Actively managed in terms of duration and issuer selection, the product offers exposure mostly to high quality, liquid securities mainly issued by the Chinese government, policy banks and local companies.
Hayden Briscoe, Head of Asian Fixed Income at UBS Asset Management, said: “The Chinese bond market is the second largest in the world and, although it is still underrepresented within the global indices and our clients' portfolios, we believe it will continue to grow considerably.
In a world of increasingly compressed yields, the Chinese market still offers very competitive returns. In addition to that, in the severe market stress seen last March, Chinese sovereign debt proved to be uncorrelated to most global equity markets, and showed low correlation with respect to other bond markets.
UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. UBS's 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 more than 50 regions and locations, with about 30% of its employees working in the Americas, 31% in Switzerland, 19% in the rest of Europe, the Middle East and Africa and 20% in Asia Pacific. UBS Group AG employs over 68,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
UBS Asset Management AG
Asset Management is a large-scale asset manager with a presence in 23 markets. It offers investment capabilities and investment styles across all major traditional and alternative asset classes to institutions, wholesale intermediaries and wealth management clients around the world. It is a leading fund house in Europe, the largest mutual fund manager in Switzerland, the second largest fund of hedge funds manager and one of the largest real assets investment managers in the world.
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