UOBAM's China-focused funds attract more than S$1b in AUM in less than two years

UOB Asset Management's (UOBAM) two China-focused funds - United China-A Shares Innovation Fund and United China-A Shares Consumption Upgrade Fund - have pulled in more than S$1 billion in assets under management (AUM) in less than two years.

Ping An Fund Management Company (Ping An FMC) is the investment adviser of both funds, which have drawn "strong" investor interest from Japan, Malaysia, Singapore and Thailand, UOBAM said in a press statement on Monday.

More than one-third of the total AUM was invested in the second-half of 2020, as investors from across the region rode on China's equity market boom, backed by the country's economic and corporate earnings growth.

As at April 29, 2021, United China-A Shares Innovation Fund achieved returns of 143.13 per cent since its inception in August 2019 and an annualised return of 67.70 per cent. The United China-A Shares Consumption Upgrade Fund saw returns of 32.71 per cent since it was established in August 2020.

Said Thio Boon Kiat, chief executive officer of UOBAM and director of Ping An FMC: "Since UOBAM obtained our Renminbi (RMB) Qualified Foreign Institutional Investor (RQFII) licence in 2015, we have been tapping Ping An FMC's local expertise to offer investors outside China direct access to the country's onshore investment opportunities."