UBS Fund Services has won the three-year overall performance award and several sector awards. Over three years, its sector awards are for US equities, European fixed income and the defensive, dynamic and neutral categories of the asset allocation fund class. UBS has also received the award for US dollar fixed income over 10 years.
Asset allocation can refer to both a process and a category of fund: as a process, asset allocation is the selection of country, stock or currency weightings for a fund, while an 'asset allocation fund'' is a kind of balanced portfolio where the composition is set by the client. They can be biased in favour of equities or fixed income as the client requires.
Teh-Hsiu Fu, head of the Greater China office for UBS Global Asset Management, says his company offers a diverse range of unit trust products in Hong Kong. Being a big manager with a wide range of products is a prerequisite to be in the running for the overall winner award.
'We like to describe ourselves as having a price/intrinsic value type of philosophy, in terms of looking for investment opportunities. We believe the market price ultimately reflects the present value of future cash flows for the investment position we are looking at.
'When we look at different investment opportunities around the world, we use a consistent global evaluation model that utilises this price/intrinsic value philosophy.''
UBS looks for opportunities where its assessed intrinsic price of an investment vehicle such as a stock varies considerably from its market value underpriced investments.