China shines as growth spot for UBS Asset Management

UBS Asset Management has set its sights on China as a growth area for its business in Asia, driven by the two-way investment flows that it hopes to capture.

Rene Buehlmann, UBS Global Asset Management's managing director and head of Asia Pacific, said many conditions for growth in China assets are in place. These include investor interest in the renminbi, thanks to its potential as a reserve currency, and the launch of the Shanghai-Hong Kong Stock Connect last November.

"We want to position UBS Asset Management as the go-to place for China ... Offshore clients are keen to invest in China. Stock Connect will provide the second largest market in the world, combining Hong Kong and China. The other piece is the renminbi. People want to diversify their currencies.