UOB Asset Management (UOBAM), a wholly-owned subsidiary of Singapore-based United Overseas Bank, has formed a strategic alliance with UTI International (Singapore) (UTIIS), to manage Asia and India investment funds. UTIIS is a subsidiary of India-based UTI Asset Management.
Reportedly, the two parties will also be collaborating to launch new funds jointly and to offer other investment services. It has added that the complementary investment team of UOBAM and UTIIS will provide investment solutions, especially in the management of Asia and India-centric funds. Moreover, they want to utilize on each party’s distribution network.
According to the company, the first initiative of the alliance will be an equity fund that both the parties have jointly developed.
Thio Boon Kiat, managing director and chief investment officer of UOB Asset Management, said: “This partnership is a win-win situation for both investors and the partners. It allows both organisations to offer best-in-class investment solutions that tap the vast potential of Asia and India.”
