Market Chatter: UBS to Close China Mutual Fund Sales Unit

MT Newswires Live

2 hours ago

UBS (UBS) plans to cease its fund sales unit in China at the end of September, the company told Reuters in a statement.

According to three unnamed sources, UBS has struggled to grow WE.UBS in China's mutual fund distribution market. The company plans to absorb WE.UBS into its China securities unit under plans being discussed, the report said.

The Swiss investment bank's Chinese securities and banking units also have fund sales licenses and compete for the group's resources, another person told the news agency. The bank clarified it was operating other wealth management platforms in China as usual, Reuters said.

UBS didn't immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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The company plans to absorb WE.UBS into its China securities unit under plans being discussed, the report said.</p><p>The Swiss investment bank's Chinese securities and banking units also have fund sales licenses and compete for the group's resources, another person told the news agency. The bank clarified it was operating other wealth management platforms in China as usual, Reuters said.</p><p>UBS didn't immediately respond to a request for comment from MT Newswires.</p><p>(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU3187612489.SGD","symbol_name":"TEMPLETON EUROPEAN INSIGHTS \"A\" (SGDHDG) ACC","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2666561994","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2666561994","pubTimestamp":1789032663,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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