UBS Asset Management is Ready to Go for the Greater Bay Area Wealth Management Connect
UBS Asset Management welcomes the official launch of the Greater Bay Area (GBA) Wealth Management Connect (WMC) scheme on Friday, 10 September 2021, by the People’s Bank of China, the Hong Kong Monetary Authority and the Monetary Authority of Macau.
The company already has three Hong Kong-domiciled funds designed specifically for the WMC scheme.
The readiness of the three funds, the UBS (HK) Fund Series – Asia Allocation Opportunity (USD); the UBS (HK) Fund Series – Asia Income Bond (USD); and the UBS (HK) Fund Series – Global Income Bond (USD) ("UBS Global Income Bond Fund”), are testament to UBS Asset Management’s commitment to the GBA and the WMC scheme.
Adolfo Oliete, Head of UBS-AM Hong Kong, commented, “We are excited to be at the forefront of China’s latest capital market reforms and to offer investors across the Greater Bay Area access to a suite of funds that will diversify their portfolios and give them access to new sources of potential return across asset classes and geographies.”
Chris Yiu, Head of Wholesale Client Coverage Hong Kong at UBS-AM, explained, “We are working closely with more than 10 distribution partners to deliver more options to investors in the Greater Bay Area, and are in active discussions to further expand our network across the region. We anticipate announcing both new product launches and distribution partners as the scheme grows.”