Zhong Guo Ji Jin Bao·2025-06-14 13:20Core Viewpoint - UBS AG has acquired a 20% stake in ICBC Credit Suisse Asset Management Co., Ltd., now renamed ICBC UBS Asset Management Co., Ltd., marking a significant move in the Chinese market [1][4]. Group 1: Shareholding Changes - The shareholding change was approved by the China Securities Regulatory Commission, allowing UBS to become a significant shareholder while ICBC retains 80% ownership [1][4]. - The official name change took effect on June 13, 2025, reflecting the new ownership structure [2][4]. Group 2: Company Background - ICBC UBS Asset Management was established in 2005 and is a state-controlled fund management company with a total asset management scale exceeding 2 trillion yuan [4][5]. - The company manages 254 public funds and various pension and private asset management plans, leading in pension management within the industry [4][6]. Group 3: Market Position and Growth - As of the first quarter of 2025, ICBC UBS Asset Management ranked 13th in the domestic public fund industry, with a public fund management scale of 782.3 billion yuan [7]. - The company has a comprehensive range of qualifications and products, including public funds, private asset management plans, and various pension products [5][6]. Group 4: Foreign Investment Interest - The stake acquisition by UBS follows its merger with Credit Suisse, increasing its public fund license holdings in China to two [8]. - Other foreign financial institutions are also expanding their presence in the Chinese market, with the number of wholly foreign-owned fund companies reaching nine [9][10].