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What is UBS Asset Management?
UBS Asset Management offers equity, fixed income, currency, hedge fund, global real estate, infrastructure and private equity investment capabilities that can also be combined in multi-asset strategies.
The 1998 UBS-SBC merger and subsequent restructuring resulted in the combination of three major asset management operations: UBS Asset Management, Phillips & Drew (owned by Union Bank of Switzerland), and Brinson Partners (owned by SBC). The investment teams were merged in 2000 and in 2002 the brands were consolidated to become UBS Global Asset Management.
At the end of 2016, UBS Asset Management was responsible for CHF 656 billion of invested assets and assets under administration were CHF 420 billion. With around 3,500 employees in 22 countries, UBS Asset Management is the largest mutual fund manager in Switzerland, a leading fund house in Europe, and one of the largest hedge funds and real estate investment managers in the world. It has main offices in Chicago, Frankfurt, Hartford, Hong Kong, London, New York, Paris, Singapore, Sydney, Tokyo, and Zürich. With the aim to generate systematic products and solutions for client, in 2017, UBS integrated Equities, Fixed Income and Solutions capabilities and hedge funds business within a new area named Investments. UBS also formed a new area of business named Real Estate and Private Markets by combining their Global Real Estate and Infrastructure and Private Equity businesses.
In February 2017, UBS Group AG and the Northern Trust Corporation, an American international financial services company, announced an agreement for the acquisition of UBS Asset Management’s fund administration servicing units in Luxembourg and Switzerland. This acquisition will facilitate the expansion of the Northern Trust Corporation into these two countries, turning the American company into the major fund administrator in the local markets and into one of the ten global leaders in the sector. At the end of the transaction, expected for the second half of 2017, the American company will administrate a total of CHF420 billion in assets. UBS Asset Management will continue anyway to offer Management Company, White Labelling and Representative Services to its clients. Ulrich Körner, president of the UBS Asset Management, affirms that the continuous transformation of their platform is due to a major efficiency, effectiveness and geographical dislocation of the services offered by the bank.
UBS’s main competitors in this division are BlackRock, Vanguard Group, State Street Global Advisers (SSGA), Fidelity Investments and Allianz Asset Management (AAM).