UBS Financial Services Inc. and NextShares Solutions LLC (NextShares Solutions), a wholly owned subsidiary of Eaton Vance Corp. (Eaton Vance), announced today that UBS Financial Services plans to offer NextSharesTM exchange-traded managed funds (NextShares) as part of its solutions set for clients. As a result, UBS will become the first full-service wealth manager to offer NextShares through its financial advisor network. In addition, UBS Asset Management (Americas) plans to enter into an agreement with NextShares Solutions to support the development and launch of UBS-sponsored NextShares funds in 2017.
NextShares, an innovative way to invest in actively managed strategies, offer the potential for benchmark-beating returns by applying their manager’s proprietary investment research. As exchange-traded products, NextShares may offer cost and tax efficiencies that can enhance shareholder returns. Along with UBS Asset Management, NextShares are expected to be offered by a range of well-known asset managers and across fund asset classes. The first NextShares funds began trading on the Nasdaq Stock Market LLC earlier this year.
“At UBS our foremost commitment is to provide our clients with the advice and solutions they need to meet their investment objectives,” said Tom Naratil, President of UBS Americas and WMA. “By leading the introduction of NextShares, we enable UBS's financial advisors to take advantage of the latest advances in fund design, with lower expenses and more tax efficiency.”
“We are pleased to support UBS in its plans to launch NextShares,” said Thomas E. Faust Jr., Chairman and Chief Executive Officer of Eaton Vance. “UBS’s commitment to doing what’s best for clients makes them an ideal partner for NextShares Solutions and Eaton Vance. Today's announcement is a major milestone in the development of NextShares.”
UBS is committed to providing private, institutional and corporate clients worldwide, as well as retail clients in Switzerland, with superior financial advice and solutions while generating attractive and sustainable returns for shareholders. Its strategy centers on its Wealth Management and Wealth Management Americas businesses and its leading universal bank in Switzerland, complemented by its UBS Asset Management business and its Investment Bank. These businesses share three key characteristics: they benefit from a strong competitive position in their targeted markets, are capital-efficient, and offer a superior structural growth and profitability outlook. UBS's strategy builds on the strengths of all of its businesses and focuses its efforts on areas in which it excels, while seeking to capitalize on the compelling growth prospects in the businesses and regions in which it operates. Capital strength is the foundation of its success.
UBS is present in all major financial centers worldwide. It has offices in more than 50 countries, with about 35% of its employees working in the Americas, 36% in Switzerland, 17% in the rest of Europe, the Middle East and Africa and 12% in Asia Pacific. UBS Group AG employs about 60,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
UBS Wealth Management Americas. Wealth Management Americas is one of the leading wealth managers in the Americas in terms of financial advisor productivity and invested assets. It provides advice-based solutions and banking services through financial advisors who deliver a fully integrated set of products and services specifically designed to address the needs of ultra-high net worth and high net worth individuals and families. It includes the domestic U.S. and Canadian business as well as the international business booked in the U.S.
UBS Asset Management. UBS Asset Management is a large-scale asset manager with a presence in 22 countries. It offers investment capabilities and investment styles across all major traditional and alternative asset classes to institutions, wholesale intermediaries and wealth management clients around the world. It is a leading fund house in Europe, the largest mutual fund manager in Switzerland, the third-largest international asset manager in Asia, the second largest fund of hedge funds manager and one of the largest real estate investment managers in the world.
NextShares Solutions is a wholly owned subsidiary of Eaton Vance, formed to develop and commercialize NextShares. Aspects of the operation of NextShares are protected intellectual property owned by NextShares Solutions. For more information, visit nextshares.com.
Eaton Vance (NYSE: EV) is a leading global asset manager whose history dates to 1924. With offices in North America, Europe, Asia and Australia, Eaton Vance and its affiliates managed $318.7 billion in assets as of April 30, 2016, offering individuals and institutions a broad array of investment strategies and wealth management solutions.