Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Pru Picks Up Tawain Fund Manager Not Rated 3.0 Email Routing List Email & Route  Print Print
Wednesday, August 16, 2000

Pru Picks Up Tawain Fund Manager

Reported by Sean Hanna, Editor in Chief

Prudential is purchasing Tawain-based fund manager MasterLink Securities Investment Trust Enterprise for an estimated $95 million. MasterLink is managed the second largest equity fund in Taiwan. The insurer said it was attracted to the Taiwanese market because of its "rapidly growing mutual fund industry, high personal savings rate, and the opportunity to manage institutional and pension assets on a discretionary basis."

MasterLing has roughly $1.6 billion in assets under management and offers a family of 13 mutual funds, including eight domestic equity, three overseas equity, and two domestic bond funds.

"MasterLink's strong proprietary sales force and third party distribution capabilities provide Prudential with the dynamic distribution platform we look for in foreign acquisitions and partnerships," said Douglas Fergusson, president of Prudential Asia.

The insurer said that the Taiwanese fund market has been growing at a 33 percent annual rate during the last four years due to increased awareness of mutual funds.

"Prudential sees Taiwan as a integral market for developing our investment management businesses in Asia. Through MasterLink, Prudential will immediately gain a substantial foothold in Taiwan, with attractive opportunities to quickly expand the company's retail and institutional client base," said Stephen Pelletier, president of Prudential's International Capital Group.

The insurer said that MasterLink's CEO, Patricia Tsai, will remain in her current position and will continue to run the operations of the company.  

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

3.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use