The firm has gained regulatory approval to sell three high income products to Hong Kong retail investors.
In 2020 alone, UBS AM has introduced seven onshore funds for sale to China’s domestic investors via the PFM scheme.
Separately, around 10 PFM products managed by foreign managers have less than RMB 5m ($715,000) in assets, according to a Z-Ben report.
UBS Asset Management sees a first half rebound coming in emerging markets, led by China A-shares.
Among them, Nomura AM has had its first onshore fund authorised by the Asset Management Association of China (Amac).
Fixed maturity and passive products make up the list of funds that gathered $1bn or more in the past 12 months.
The product adds to the firm’s other onshore products launched via its private fund management licence.
Additionally, in August, RQFII quota went to UBS Asset Management, according to records from the State Administration of Foreign Exchange (SAFE).
UBS AM’s and Invesco’s wholly foreign-owned enterprises (WFOEs) are the latest to launch onshore funds in China, targeting the country’s domestic high net worth individuals and institutional investors.
SSGA names new APAC head; Capital Group creates new fixed income role; Lombard Odier to launch a sustainable fund; more fintech cooperation agreements in Hong Kong and Singapore; China relaxes rules for foreign banks; SFC continues to watch for mis-selling of financial products; and more…