Lombard Odier made the disclosure on Tuesday, August 8, following its partnership with the bank last year.
UnionBank first vice-president and trust and investment services group head Robert Ramos said the fund represents the first investment vehicle in the Philippines to utilise the risk-based investment methodology which suits clients seeking to limit volatility in their portfolios.
“Given limited access in the Philippines to US dollar investment funds, this new fund represents a viable investment option for private clients looking to preserve and grow their wealth for current and future generations,” Ramos said.
According to Lombard Odier, risk-based approach is unique in that it focuses on a return target with a risk budget, and is not driven by knee-jerk reactions to changes in the political, economic and market backdrop.
Lombard Odier Asia Pacific CEO Vincent Magnenat said: “With this fund and the partnership as a whole, our aim is to marry the best of both parties – providing our global products and services through UnionBank’s extensive network in the Philippines.”
Last year, Lombard Odier signed a strategic alliance with UnionBank to offer its investment solutions to onshore private clients in the Philippines.
Under the agreement, Lombard Odier would customise investment funds for UnionBank’s private clients while also assisting the Philippine bank to develop its own private banking activities.
The Swiss wealth manager’s partnership in the Philippines is one in a series of strategic alliances forged in Asia since 2012 in order to enlarge the wealth manager’s networks and client base in the region. These include a partnership with Kasikornbank in Thailand and alliances in Japan, Australia and South Korea.
Lombard Odier serves Asia-based clients directly from its offices in Singapore, Hong Kong and Tokyo where it specialises in managing wealth on a discretionary portfolio management basis and providing individuals and families with multi-generational wealth preservation solutions.