The asset management division of Swiss group Union Bancaire Privée (UBP) has entered into a strategic agreement with Chilean boutique LarrainVial Asset Management.
According to the terms of the deal, UBP’s asset management team will be sub‐advising on a European equity mutual fund registered in Chile and managed by LarrainVial AM.
At the same time, LarrainVial AM’s expertise on Latin American equity and fixed income will be leveraged by UBP to support its global emerging markets capabilities.
LarrainVial AM is a non‐bank asset manager based in Chile, with approximately $3.5bn (€3.1bn) in assets under management, providing a range of Latin American equity and fixed income strategies.
UBP held CHF113.5bn (€103.6bn) in assets under management as at 30 June 2016, of which CHF24bn (€21.9bn) are managed by its investment arm.