MassMutual Financial Group has expanded its presence in Asia with the purchase of a 68 percent stake in Taiwan’s sixth largest mutual fund firm, the privately held Fuh Hwa Investment Trust Co. Ltd. Established in 1997, Fuh Hwa currently has more than $4.1 billion in assets under management.

MassMutual first entered Taiwan in 2001 with the purchase of a major interest in Mercuries Life Insurance. The most recent acquisition will add an asset management portfolio and distribution capacity to the company’s capabilities in the country.

"This transaction will enhance our strong and growing presence in the region," said Andrew Oleksiw, MassMutual executive vice president and president and CEO of MassMutual International.

Elroy Chan, senior vice president and managing director and CEO of MassMutual Asia heads the firm's operations in Asia. Fuh Hwa management and key employees will remain with the firm.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE