Pioneer Investments has announced that its subsidiary in Taiwan has received approval from Taiwan's Securities and Futures Bureau to act as a Master Agent of the Pioneer Funds in Taiwan.
Pioneer Investments has announced that its subsidiary in Taiwan has received approval from Taiwan’s Securities and Futures Bureau to act as a Master Agent of the Pioneer Funds in Taiwan.
The licence will allow Pioneer Investments Taiwan to interact directly with Taiwanese distributors.
Following the upgrade of its securities investment consulting enterprise to a Master SICE, Pioneer Investments Taiwan has assumed the role of Master Agent for the company’s 21 registered funds, effective of October 15, 2013.
Pioneer Investments’ funds were formerly marketed in Taiwan through ING Securities Investment & Trust Co.
Jack Lin, head of Asia and Middle East at Pioneer Investments, said that the move underscores Pioneer Investments’ commitment to Asia, including Taiwan.
“We have had an excellent track record so far in Taiwan and we remain excited by the opportunities here, which are supported by strong demand for our products, particularly those which aim to deliver yield and income to investors,” Lin said. “With over €2bn net sales over the last 3 years, it’s a natural step for Pioneer Investments Taiwan to act as Master Agent for our products, given the size and scale of our business in Taiwan.”
Since his appointment in 2012, Taiwanese-born Lin had overseen the restructuring of Pioneer Investments’ distribution platform in Asia as part of Pioneer Investment’s global 5-year growth plan.
Pioneer Investments has achieved strong inflows in markets including Japan and Taiwan, together with the successful entry into the Korean market. This is in addition to Pioneer Investments being awarded significant institutional asset management mandates and the hiring of senior talent, the firm also highlighted.