Amundi, Europe’s largest asset management firm by assets under management (AuM), has acquired Mirae Asset Global Investments (Taiwan) for an undisclosed fee, the firm has announced.
The move is significant as it allows the French asset manager, which says it has €1.475 trillion ($1.684 trillion) in AuM, to gain the status of a Securities Investment Trust Enterprise, known as Amundi SITE. The deal allows Amundi to sell onshore funds in Taiwan.
The acquisition underlines its “commitment to the Taiwan fund management industry”, the firm said in a statement.
Mirae Asset Global Investments (Taiwan) changed its name to Amundi Taiwan Limited on February 1, 2019. At present, Amundi has a total of 27 offshore funds and 3 onshore funds registered in Taiwan.
Xiaofeng Zhong, chairman of Amundi SITE said: “Amundi SITE is the first SITE in Taiwan run by a global manager with a origin from France. It shows our commitment to the Taiwan market and it will leverage on our Amundi’s global expertise to offer best-in-class investment solutions to our investors in Taiwan.”
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