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Money Management

Amundi buys Mirae’s fund business in Taiwan

Amundi acquired the Taiwan fund business of Mirae Asset Global Investments effective Feb. 1, a spokesman said.

Paris-based Amundi, with €1.48 trillion ($1.68 trillion) in assets under management, boosted its onshore investment capabilities in Taiwan through the acquisition, which is still subject to regulatory approvals. Financial terms of the deal were not disclosed.

"The acquisition further demonstrated the significance of Taiwan in Amundi's road map in Asia," said Vincent Mortier, Amundi's deputy chief investment officer and Asia ex-Japan supervisor, in a news release. "We are confident that the new setup will further enable us to provide the best products and services to Taiwan investors."

A Mirae spokesman could not be reached. Mirae's assets under management in Taiwan were not disclosed. Amundi had $5 billion in Taiwan AUM as of Dec. 31.