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Article: In Brief: MassMutual Buys Taiwan Fund Firm Control.(Fuh Hwa Investment Trust Co. Ltd)(Brief Article)

Article from:
American Banker
Article date:
March 4, 2004
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MassMutual Financial Group said Wednesday that it had bought control of the sixth-largest mutual fund company in Taiwan.

The Springfield, Mass., insurer, said it bought, with partners, a 68% stake in Fuh Hwa Investment Trust Co. Ltd. The partners are Mercuries & Associates Ltd. and MassMutual Mercuries Life Insurance Co. Ltd. in Taiwan.

Fuh Hwa has more than $4.1 billion of assets under management. The company was established in 1997, and its assets under management more than doubled during the past three years, from $1.6 billion at the end of 2000.

Robert J. O'Connell, MassMutual's chairman, president, and chief executive officer, said the ...

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