Netwealth, the Australian financial services firm, has strengthened its global specialist funds division by selecting UBS' asset management arm as investment manager.

Netwealth has been investing in UBS' tactical beta funds for the past year. Tactical beta funds invest in a range of financial products and provide a diversified portfolio of growth and income assets with the goal to reduce the negative impact of investing in one place.

The decision to partner comes shortly after the launch of UBS' third tactical beta product. UBS Global Asset Management will be overseeing three of Netwealth's global specialist funds. 

Netwealth focuses on financial planning services for Australian investors. It has around 1,100 advisors across the country, including subsidiaries that collectively represent some A$5 billion (US$5.2 billion) in advise.