Manulife WAM Acquires Schroders' Indonesia Unit
The asset management arm of Toronto-headquartered Manulife will acquire Schroders' Indonesia business.
Manulife Wealth & Asset Management has signed an agreement for its Indonesia business – PT Manulife Aset Manajemen Indonesia (MAMI) – to acquire Schroders Indonesia, according to a statement, subject to regulatory approval.
The financial terms of the transaction were not disclosed.
AUM in Indonesia
Manulife established MAMI in Indonesia in 1996 and is currently the country’s largest asset manager with 101.7 trillion Indonesian rupiah ($6.1 billion) of assets under management (AUM) and 2.5 million customers, as of June 30.
Schroders has been operating in Indonesia since 1991 and it established its investment management business in 1997. It is the country’s fifth largest asset manager with 56 trillion rupiah of AUM as of the end of June.
«Schroders Indonesia brings a strong investment culture and deep client relationships that complement the strengths of our existing business. We are bringing together two of Indonesia’s leading fund management companies, with a shared vision to deliver enhanced value to clients and stakeholders,» said Fabio Fontainha, head of wealth and asset management, Asia, Manulife.
