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.