UBS Taiwan to launch emerging market stock fund

TAIPEI, March 12 (Reuters) - UBS's (UBS.N) (UBSN.VX) Taiwan fund arm will launch a T$10 billion ($312 million) equities fund this year targeting emerging markets, on expectations of stronger growth and cheaper valuations, an executive said on Friday.

"We like China and Russia," Johnny Wong, president of UBS Global Asset Management (Taiwan), told Reuters.

"In BRIC markets, Russian stocks are the cheapest and Chinese stocks' valuations also look attractive," Wong said on the sidelines of a Lipper fund awards event. ($1=T$31.8) (Reporting by Faith Hung)