UOB to offer investment based on hedge fund index

UOB Asset Management has entered a strategic alliance with New York-based PlusFunds Group to offer Singapore retail and institutional investors passive exposure to hedge funds incorporated in an index created by Standard & PoorÆs.

UOB Asset Management has entered a strategic alliance with New York-based PlusFunds Group to offer Singapore retail and institutional investors passive exposure to hedge funds incorporated in an index created by Standard Poors

The tie-up is expected to result in a listed closed-end fund, subject to approval by the Monetary Authority of Singapore, says Daniel Chan, managing director and CIO at UOB Asset Management in Singapore.

The hedge fund industry has grown a lot over the past...

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