UBS has launched a fund administration platform that will target alternative funds across Asia, particularly China and Australia as long-term targets, Asian Investor reports. The firm sees China as a major target market in the long term, said Colin Lunn, head of UBS business development and client services.

However, the firm’s initial core client base will be alternative asset managers in Hong Kong and Singapore, ranging from single-manager funds and funds of hedge funds through to private equity, real estate and venture capital. UBS may appoint between 30 and 40 staff in Singapore within the next three years, adds Opalesque.

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