UBS has formally opened the new office of its fund services business in Hong Kong, which will provide business development and client relationship management services to fund administratio
UBS has formally opened the new office of its fund services business in Hong Kong, which will provide business development and client relationship management services to fund administration clients in the Asia-Pacific region.
The operation will offer a full range of fund administration services, including assistance with fund set-up, distribution support, NAV calculation and reporting, 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.
‘Many of our clients are global managers who are well-established in Hong Kong,’ says the new head of business development for the Asia-Pacific region, Michelle Chua. ‘It makes perfect sense for us to be close to our clients, and the single point of contact in their time zone.’
André Valente, global head of business development and client relationships for fund services, says: ‘The opening of an office in Hong Kong is strategically important for the fund services business.
‘From Hong Kong, we can offer a multilingual 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.’
Gerhard Fusenig, global head of fund services, adds: ‘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.’
UBS Global Asset Management provides traditional, alternative and real estate investment management services to private clients, financial intermediaries and institutional investors worldwide. Part of the UBS Global Asset Management business group, the fund administration business delivers a range of professional services for traditional mutual fund managers and the alternative investment community.
Administration centres are located in Canada, the Cayman Islands, Ireland, Luxembourg, Switzerland and the UK, and an additional centre will be in operation shortly in Krakow, Poland, while business development and client relationship teams are based in Basel, Cayman, Hong Kong, London, Luxembourg, New York and Zurich. At the end of last year UBS provided services to 1,868 funds and had assets under administration of USD 580bn.
