Asian equity specialist Yit-Mee Cheah has retired after 25 years in the fund management industry, UBS Global Asset Management has announced.
Cheah joined the company in 1997 and had overseen a number of Asia-focused funds on behalf of the Swiss group.
The first three funds were taken over by Shou-Pin Choo, with the fourth fund having been closed in February of last year.
In a statement to Citywire Global, UBS said: ‘After 17 years at UBS Global Asset Management and 25 years in the investment industry Yit-Mee Cheah has decided to retire.’
‘Her portfolio management responsibilities have been taken over by Shou-Pin Choo. He is a portfolio manager who has been with UBS Global Asset Management since 2000 and is an existing member of the Asian Equity Portfolio Construction Committee.’
Choo assumed responsibility for the Swiss-domiciled Pacific Fund and the Luxembourg-domiciled Asian Equities funds in October, having already taking over the Asia Opportunity fund at the turn of the year.
The UBS (Lux) KSS-Asian Equities (USD) P-acc returned 12.4% over the three years to the end of October 2011. This is while its Citywire benchmark, the FTSE World Asia Pacific ex Japan TR USD, rose 22.5% over the same timeframe.