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Singapore’s UOB Asset Management says its two China funds advised by a unit of Ping An Insurance (Group) Co of China have crossed the S$1 billion (US$750 million) assets under management mark, describing it as a “milestone” in their decade-long partnership.
The United China-A Shares Innovation Fund and the United China-A Shares Consumption Upgrade Fund were both launched over the last two years: the former in August 2019 and the latter a year later.
The Singapore asset manager notes in a statement that the growth of the two funds comes on the back of its 2011 joint venture with the Ping An Insurance unit, Ping An Trust Co Ltd., to form Ping An Fund Management Company, the funds’ adviser.
May 4, 2021 Hubbis
Asset manager achieves strong performance on the back of the success of Ping An FMC, the 10-year joint venture with Ping An Trust.
In less than two years, UOB Asset Management Ltd (UOBAM) has attracted more than S$1 billion in assets under management (AUM) from individual investors across Asia for two funds. This achievement comes on the back of the successful 10-year old joint venture between UOBAM and Ping An Trust Co. Ltd (Ping An Trust) – Ping An Fund Management Company (Ping An FMC).
Ping An FMC, which was established in 2011, leverages its domestic investment capabilities and track record and combines them with UOBAM’s regional network and Renminbi (RMB) Qualified Foreign Institutional Investor (RQFII) licence to offer investment opportunities in China’s onshore financial market.
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