UBS AG's unit opens hedge fund to investors
UBS O'Connor is a unit of UBS AG. The latter oversees USD5.2 billion of assets and said that its unit would open to investors for the Asia focused hedge fund later this year. This was according to two people familiar with the matter.
UBS O'Connor started trading last August and was managed by David Perrett in New York and John Bradshaw, based in Singapore. This was according to sources who asked not to be identified as the information was private in nature. Hong Kong-based UBS representative Rob Stewart declined to comment regarding the report.
O'Connor is among several hedge fund arms of global financial lenders that had been starting their first Asia funds this year, said a Reuters report. According to two people with knowledge of the matter said that Goldman Sachs Investment Partners had been raising capital for a new fund in Asia last month.
Stephane Pizzo, managing partner at Singapore-based investment adviser Lotus Peak Capital Pte said, "Asia has the highest growth in emerging markets and improving liquidity, meaning more opportunities to trade from the long and the short side. It's only natural for smart traders and investors to go where the opportunities are."