CHINA GIVE UBS AM A GOLDEN TICKET – UBS Asset Management have been granted a Private-Funds license in China. This will allow them to manage money for High Net Worth Individuals and institutions for the first time in Asia’s largest economy. The President of UBS AM, Ulrich Koerner, has said “Our goal is to be a leading asset manager in China for both onshore and offshore investors and a strong partner” going on to say, “China is a key growth market”. Other firms including BNY Mellon Investment Management, Vanguard and Fidelity have secured licenses to trade within China. The assets under management in mainland China rose by 36%, roughly $7.6 trillion, last year according to AMAC. It is not a surprise that firms are queuing up, trying to enter the lucrative Chinese market. #SpartanInternational