UBS to launch China's first foreign fund of funds

Pedro Gonçalves
clock • 2 min read

UBS Asset Management has announced that its Shanghai division has launched its first onshore fund of funds. This makes UBS the first foreign asset manager to launch a fund of private securities funds (FOF) in China. China's securities regulator on Friday gave approval for UBS Group to hold the majority stake in its securities joint venture. The company has become the first foreign-funded brokerage approved by the securities regulator since the rules on foreign investment in brokerages were implemented, according to the CSRC. The UBS FOF will use core and tactical investment strategies...

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