Union Bancaire Privée (UBP), one of the largest private banks in Switzerland, has announced a strategic partnership and opening of a branch in Australia that will ultimately see catastrophe bond funds managed by SCOR Investment Partners distributed in the country.
Union Bancaire Privée (UBP) is a specialist in wealth management for both private and institutional clients and has a focus on alternative asset classes, among which are insurance-linked securities (ILS) such as catastrophe bonds.
The private bank has entered into a partnership with Bell Asset Management, an Australia-based, independently owned boutique focused on global all-cap and small- and mid-cap (SMID) equities.
The tie-up between UBP and Bell AM means UBP clients will gain access to the services of an equity manager with a track record of eighteen years, while Bell AM will be able to leverage UBP’s distribution channels in Europe, the Middle East and Asia to expand its reach in those regions.
To support this new collaboration, UBP has also established a branch in Australia, through its Hong Kong subsidiary, with Olivier Marion set to lead the activities in the country as Head of Business Development for Australia.
As a result, thanks to the partnership with Bell AM, UBP will now be able to market and distribute its flagship asset management strategies in Australia, covering a range of fixed income opportunities, as well as alternatives including hedge funds, catastrophe bonds, private market assets, and also ESG and impact investing solutions.
Nicolas Faller, Co-CEO Asset Management and Head of Institutional Clients at UBP commented on the news, “This is an opportune moment to enter such a prestigious pension market and to offer a wide range of solid solutions to institutional investors in Australia.”
The catastrophe bond strategies offered to institutional clients by UBP are all managed by SCOR Investment Partners, the specialist asset management unit of the global reinsurance firm.
As a result, SCOR Investment Partners reach into Australian institutional investment markets for its catastrophe bond fund strategies will be enhanced, thanks to UBP’s distribution reach, which should also help to raise the profile of the managers other insurance-linked securities (ILS) and collateralised reinsurance focused products as well.
Australia is home to numerous large super and pension funds, a number of which are already experienced investors in ILS and other reinsurance linked assets.
With some of these investors so large, they can look to multiple ILS fund managers for their allocations to the asset class, in order to diversify their investments in the ILS space.