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Article: Global strategies: Mass Mutual goes to Taiwan.(FundReporter)(Massachusetts Mutual Life Insurance Co.)(Fuh Hwa Investment Trust)(Brief Article)
- Article from:
- Research
- Article date:
- May 1, 2004
CopyrightCOPYRIGHT 2004 Summit Business Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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IN PERHAPS an unfortunately timed move, MassMutual recently bought into one of Taiwan's biggest mutual fund companies, three weeks before the island's markets imploded.
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Together with venture partner Mercuries & Associates and their Taiwanese joint operation, MassMutual now owns 68 percent of Fuh Hwa Investment Trust. No price for the transaction was disclosed.
With $4.1 billion in managed assets, the firm is the sixth biggest fund company in Taiwan. However, although Fuh Hwa has doubled its AUM over the last three years, local investor confidence took a huge hit after Taiwan's contested election knocked 10 percent out of ...