Chinese property firm Xinhu Zhongbao has signed asset management deal with UBS SDIC Fund Management.
Under the two-year agreement, UBS SDIC will carry out asset management business for Xinhu.
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UBS SDIC will manage assets worth RMB700 million ($115.1 million) on behalf of Xinhu.
Xinhu specifically entered the SDIC UBS overseas investment asset management program to gain exposure to overseas investment opportunities.
As of 31 December 2012, UBS SDIC managed assets worth US$5.817 billion.
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