Xinhu Zhongbao Co., one of the largest A-listed companies in China, has signed a major deal with UBS SDIC Fund Management, entrusting the latter to manage RMB700 million in assets.

Xinhu Zhongbao Co., one of the largest A-listed companies in China, has signed a major deal with asset manager, UBS SDIC Fund Management, entrusting the latter to carry out asset management business for Xinhu.

For a two year period, the UBS subsidiary will manage no more than RMB700 million ($115.1 million) on behalf of Xinhu, which primarily conducts real estate operations in China, in addition to finance and investment services.

In order to gain exposure to overseas investment opportunities, Xinhu is specifically entering the SDIC UBS overseas investment asset management program, the board said in an announcement.

The deal is one of the largest asset management deals in China to date, adding to UBS SDIC’s $5.817 billion in assets under management as of end December 2012.