UBS Asset Management Australia has announced two new partnerships with fund managers with a view to providing better investment options for superannuants across the country.
Under the new arrangements, CBRE Clarion will manage UBS’s listed Australian real estate investment trust (AREIT), representing an extension of the existing relationship established between the two wealth managers in 2005.
Further, Yarra Capital Management will now be responsible for running all UBS-branded Australian equity funds. Yarra Capital Management’s expertise covers active management across large, mid and small-cap portfolios.
“It means for us, and on the back of what we hear from our clients, we are able to provide a lot of options for clients and we’re able to make sure we’re working with the very best in the industry in providing those options, and predominantly that’s for superannuation, but that can be for their direct investments as well,” UBS Asset Management head of Australia and New Zealand Bryce Doherty said at a media briefing in Sydney today.
Doherty pointed out the move is designed to better service financial advisers currently operating under what are considered boutique licensees as UBS believes these practitioners will be considered conventional in the coming years.
“From that point of view we’re very responsive to what those advisers, and the clients of those advisers, are telling us they need so they can have the best portfolios possible for their superannuation funds,” he said.
This included the aim to improve the investment options available for SMSF members as UBS research has shown most of this group is receiving some investment advice, he said.
“The way that we are structured to face off against financial advisers does encompass the self-managed super fund market,” he said.
Justin Pica will lead the CBRE Clarion portfolio management team from Sydney.
Commenting on the new partnership, Pica said: “It goes without saying we look forward to the opportunity to manage the AREIT fund for UBS Asset Management and to expand the UBS Clarion listed real assets offering available to Australian investors.
“This appointment is testament to the commitment that UBS Asset Management and CBE Clarion have in sharing and maintaining a strong partnership.”
Yarra Capital Management managing director Dion Hershan echoed his peers’ enthusiasm for the new partnership.
“We’re absolutely delighted to be here and absolutely excited that importantly UBS has chosen to partner with Yarra for the Australian equities asset class,” Hershan said.