Bloomberg (gated) carried the report ICYMI. In brief:
- UBS is postponing plans to build its own mutual fund business in mainland China
- ‘people familiar with the matter’ says its due to high costs and a dim profit outlook
- UBS will instead rely on existing joint ventures to expand in China’s mutual fund industry
This article was written by Eamonn Sheridan at www.forexlive.com.
Source link
