SINGAPORE – 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,” said UOBAM in a statement on May 3.
Ping An FMC is the investment adviser of the two UOBAM funds, the United China-A Shares Innovation Fund and the United China-A Shares Consumption Upgrade Fund, which have drawn strong investor interest from Japan, Malaysia, Singapore and Thailand.
UOBAM said “More than one third of the total AUM was invested in the second half of 2020, as investors from across the region rode on China’s equity market boom backed by its economic and corporate earnings growth. This was in turn driven by the country’s early recovery from COVID-19, as well as favourable fiscal and monetary policies.
“As at 29 April 2021, the United China-A Shares Innovation Fund has achieved returns of 143.13% since its inception in August 2019 and an annualised return of 67.70%, outperforming major indices such as the CSI300 Index and MSCI China A Shares Index. The United China-A Shares Consumption Upgrade Fund, which was incepted in August 2020, has achieved returns of 32.71% since its inception.”
The United China-A Shares Innovation Fund and the United China-A Shares Consumption Upgrade Fund are riding on the global megatrends of technology, innovation and quality consumption prevailing in China.