AllianceBernstein Holdings is buying Taiwan International Investment Management (TIIM), Asia Asset reports. The U.S. asset manager is seeking to gain control in Taiwan’s domestic fund market and is likely to receive regulatory approval for fund launches by the second half of next year.
At present, TIIM manages eight funds, which include four Taiwanese equities funds, two overseas funds, one money market fund and one balanced fund. TIIM had total asset under management of $288 million as at the end of July.
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