UBS Global Asset Management has launched an Asia Pacific Fund Services business, providing on-the-ground capabilities in the region.
Fund Services will provide fund administration and support to all categories of investment funds and include assistance with fund setup, accounting needs, shareholder services, net asset value calculation and reporting.
The firm will run the business from its new business development and client service office in Hong Kong, as well as a full-service administration center in Singapore.
Thanks to UBS’ long history in Asia, it was an easy decision to establish a local fund administration presence for our clients here, says Thomas Wels, COO of Global Asset Management and head of Fund Services. As part of the fastest-growing region in the world, these markets are now leading the way in where and how money is being invested. We are delighted to be here as a key partner to enable our clients to do this successfully.
UBS points to industry estimates that assets under management in Asian hedge funds have increased from $5 billion in 1996 to $150 billion this year, with analysts predicting a further rise to $1 trillion by 2016.
Asia continues to grow rapidly as a destination for investment funds and as the market develops, so too does the complexity of the strategies and structures employed by the funds, says Colin Lunn, head of business development & client services for Fund Services in Asia Pacific. As a leading international provider of services to hedge funds and other alternative investments, UBS is well positioned to bring its global expertise in the asset servicing space to Asia Pacific and in doing so, meet the increasingly sophisticated needs of our clients.
Christof Kutscher, head of UBS Global Asset Management, Asia Pacific, adds: We are seeing faster growth in our Fund Services business in Asia Pacific than in any other region. Asias buoyant wealth creation and growing investor base means UBS advice and insight are needed. To ensure we are where our clients are, we are ramping up the scale and sophistication of our fund administration platform across the region and fully integrating UBSs asset servicing solutions by working closely with our Wealth Management team.
(CG)