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MassMutual Acquires Taiwan Fund Company

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NU Online News Service, March 8, 2004, 1:07 p.m. EST – Massachusetts Mutual Life Insurance Company, Springfield, Mass., has acquired the sixth biggest mutual fund company in Taiwan.[@@]

MassMutual worked with Mercuries & Associates Ltd., Taipei, to buy a 68% stake in Fuh Hwa Investment Trust Company Ltd., Taipei.

Fuh Hwa was founded in 1997 and now manages about $4.1 billion in assets, MassMutual says.

The price of the deal was not immediately available, but MassMutual says it will keep Fuh Hwa’s managers and key employees.