UOBAM secures SITE licence in Taiwan

Singapore

UOB Asset Management (Taiwan) has been awarded a Securities Investment Trust Enterprise (SITE) licence, the first fully foreign-owned fund management company to have obtained such a licence in Taiwan since 2001.

The licence, which was awarded by the Financial Supervisory Commission of Taiwan, enables UOBAM (Taiwan) to develop and offer onshore funds and to provide fund management services for domestic investors, both retail and institutional.