UBS sells majority stake in distribution platform to Deutsche Börse's Clearstream

Monde
On the 01.21.20 at 11:05AM

by

Tuba Raqshan

UBS Fondcenter, the B2B fund distribution platform, will merge with Clearstream’s Fund Desk, with approximately $230bn in assets under administration (AuA). The Swiss group expects a post-tax gain of around $600m.
(Bloomberg)

UBS announced that it will sell a majority stake (51.2%) in UBS Fondcenter, a part of its asset management business division, to Clearstream, Deutsche Börse Group’s post-trade services provider.

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