The Chinese fund management affiliates of UBS and Singapore DBS are reportedly among eight groups submitting applications for the second batch of corporate annuity licences on the mainland. UBS SDI, set up in 2002 by UBS and SDIC Hongtai Trust and Investment Co, and DBS affiliate Changshen Fund Management are both expected to submit applications for the licences, which will be issued from September. Around 37 licences were issues in the first batch, in 2005, and another 20 are expected in the next batch.