London, 1 February 2019 Amundi, the European leading asset manager1 with €1.475 trillion in assets under management2, announces the acquisition of Mirae Asset Global Investments (Taiwan) (“MAGI Taiwan”), which has officially changed its name to Amundi Taiwan Limited with effect on 1st February, 2019 (the “Effective Date”). This acquisition enables Amundi to have the status of a Securities Investment Trust Enterprise (“Amundi SITE”).
The acquisition of MAGI Taiwan is an important milestone for Amundi’s business in Taiwan and further its commitment to the Taiwan fund management industry. Through this acquisition, Amundi enhances its onshore investment management platform and equipped with onshore product development capabilities. Amundi today has a total of 27 offshore funds and 3 onshore funds registered in Taiwan.
The existing Amundi Taiwan Limited, the Amundi Securities Consulting Enterprise (“Amundi SICE”), through which Amundi was already offering offshore funds, will integrate with Amundi SITE in the first half of 2019, subject to the approval by the Taiwan regulator. Thereafter, the integrated company will keep the company name Amundi Taiwan Limited and will carry both onshore fund (Amundi SITE) and offshore fund (Amundi SICE) business in Taiwan.
Vincent Mortier, Deputy Chief Investment Officer and Asia ex-Japan Supervisor of Amundi said, “Amundi SICE has achieved an AUM of over USD 5bn as of end 20183. The acquisition further demonstrated the significance of Taiwan in Amundi’s roadmap in Asia. We are confident that the new setup will further enable us to provide the best products and services to Taiwan investors.”
Xiaofeng Zhong, Chairman of Amundi SICE and 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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Amundi, the leading European asset manager, ranking among the top 10 global players, offers its 100 million clients - retail, institutional and corporate - a complete range of savings and investment solutions in active and passive management, in traditional or real assets.
With its six international investment hubs, financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.
Amundi clients benefit from the expertise and advice of 4,800 employees in more than 35 countries. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages nearly €1.8 trillion of assets.
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