The latest offerings in investments, such as funds and structured products, and other notable developments.
UOB, Ping An
UOB Asset Management, part of Singapore’s United Overseas Bank yesterday reported attracting more than S$1 billion in assets under management from individual Asian investors for two of its funds. This milestone comes after its 10-year joint venture between UOBAM and Ping An Fund Management Company.
Ping An FMC, which was set up in 2011, has combined with UOBAM’s regional network and Renminbi Qualified Foreign Institutional Investor (RQFII) licence to offer investment opportunities in China’s onshore financial market. The Ping An FMC group is the investment advisor of two UOBAM funds: the United China-A Shares Innovation Fund and the United China-A Shares Consumption Upgrade Fund.
UOB said the funds have drawn investor interest from Japan, Malaysia, Singapore and Thailand.
As at 29 April 2021, the United China-A Shares Innovation Fund has achieved returns of 143.13 per cent since its inception in August 2019 and an annualised return of 67.70 per cent, outperforming indices such as the CSI300 Index and MSCI China A Shares Index. The United China-A Shares Consumption Upgrade Fund, which was launched in August 2020, has since achieved returns of 32.71 per cent.
As at the end of 2020, Ping An FMC had assets under management totalling more than RMB600 billion ($49.6 billion).