UBS

UBS Asset Management bullish on emerging market equities, debt

SINGAPORE (Dec 2): The United States’ economic outperformance will wane, the dollar will probably weaken and growth next year can be expected from emerging markets, UBS Asset Management said on Monday, the latest money manager to turn bullish on the sector.

The US$858 billion ($1.2 trillion) dollar manager pointed to opportunities in equities, currencies and especially Asian credit markets at an outlook presentation to investors and the press in Singapore.

UBS tops Dow Jones Sustainability Index for fifth straight year

SINGAPORE (Sept 23): Leading private bank UBS has been named the best performer in the Diversified Financial Services and Capital Markets Industry of the Dow Jones Sustainability Index (DJSI) for the fifth straight year.

The index, one of the more widely recognised corporate sustainability rating, is published by S&P Dow Jones Indices – one of the world's largest providers of financial market indices – and sustainable investing specialist RobecoSAM. More than 3,500 of the world’s largest companies are rated.

Briefs

SINGAPORE (Sept 16): “Let the data speak for itself. Minister Siti Nurbaya should not be in denial.” Yeo Bee Yin, Malaysian Minister of Energy, Science, Technology, Environment and Climate Change, refuting her Indonesian counterpart’s claims that Malaysia has been hiding facts regarding the current haze situation

Sembcorp and UBS to jointly set up solar-powered offices in Singapore

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Suntec REIT kept at 'neutral' by RHB on operational weaknesses

SINGAPORE (June 20): RHB Research is maintaining Suntec REIT at ‘neutral’ despite an improved balance sheet, given operational weaknesses are expected to persist until 1H20.

This is because two of its seven assets are under development while Suntec City Offices is undergoing asset enhancements.

In Australia, its Olderfleet building is on track to be completed by mid-2020. Leasing progress has been healthy, with 76% pre-committed, and a heads of agreement signed for an additional 13%.

UBS forms wealth management joint venture with Sumitomo Mitsui Trust

SINGAPORE (June 7): Swiss private bank UBS has formed a joint venture with Japan’s Sumitomo Mitsui Trust Holdings, Inc (SuMi Trust Holdings) to form the first-ever wealth management partnership developed between an international financial group and a Japanese trust bank.

The joint venture will open UBS's current wealth management customer base to a full range of Japanese real estate and trust services.

SuMi Trust Holdings' clients will be able to access UBS's leading wealth management services, including securities trading, research, and advisory capabilities.

DBS keeps Suntec REIT at 'buy' on securing UBS as sole tenant for 9 Penang Road

SINGAPORE (Apr 18): DBS Group Research continues to rate Suntec REIT a “buy” with a target price of $2.12.

This came on the back of the REIT (30%) along with its JV partners – SingHaiYi Group (35%) and Haiyi Holdings (35%) – securing UBS as a sole tenant for 9 Penang Road. Haiyi Holdings is a private vehicle of Gordon and Celine Tang who own a majority stake in SingHaiyi Group.

UBS has fully pre-leased the 381,000 sq ft of net lettable area (NLA), with fit out expected to commence after TOP in 4Q19. It expects to move in the premises in 2H20.

UBS to start currency pricing, trading engine in Singapore

(Sept 4): UBS Group AG will introduce a new electronic currency pricing and trading engine in Singapore next year in a bid to boost liquidity in Asia’s largest foreign-exchange centre.

The facility will go live in the second quarter of 2019, Zurich-based UBS said Monday in an emailed statement. The bank is undertaking the initiative in partnership with the Monetary Authority of Singapore, the nation’s financial regulator.

Swiss find serious shortcomings at JPMorgan in 1MDB case

(Dec 21): Swiss financial watchdog FINMA said on Thursday the Swiss subsidiary of US bank JPMorgan had committed serious anti-money laundering breaches in relation to Malaysian sovereign wealth fund 1MDB.

The case adds to the political storm that has raged for more than two years over the scandal at 1Malaysia Development Berhad (1MDB), the focus of money-laundering investigations in at least six countries including Singapore, Switzerland and the United States.

Malaysian Prime Minister Najib Razak, who chaired 1MDB’s advisory board, has denied any wrongdoing.

UBS positive on equities as global growth momentum continues

SINGAPORE (Dec 5): UBS is forecasting global economic growth to continue its positive momentum over the past year through to 2018, with little evidence of an impending slowdown.

In UBS House View Year Ahead 2018, UBS' Global Chief Investment Office Wealth Management unit looks back on “particularly impressive” expansion in 2017 as demonstrated in the US, Eurozone, China, Japan, Russia and Brazil, which have pushed worldwide GDP up to 3.8% from 3.1% in 2016 based on its estimates.

Steady yield growth expected as Singapore REITs go on buying spree

SINGAPORE (Oct 5): UBS says Singapore real estate investment trusts (SREITs) are expected to see DPU growth of 1.0% per annum from 2016 through to 2019, even as they go on the acquisition trail.

Healthcare and Industrial sector REITs are expected to lead the growth, at 3.7% and 2.5% respectively.

According to UBS, SREITS are trading at an expected yield of 6.0% in 2017, some 406 basis points higher than government bonds.

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