UBS, Goldman seek entry to China asset management via broking

UBS Global Asset Management is working on ways to manage assets in China -- but not by setting up a mutual fund joint venture. It and a few other foreign financial institutions are exploring to what extent they can participate in the young industry for 'collective investment management' schemes, or CIM. CIM is the up-and-coming industry for local securities companies to manage client assets. The first ones appeared in 2006, and there are now 28 local brokerages operating around 70 C…