Taiwan’s offshore funds top US$103 billion in February

22 April 2014   Category: News, Asia, Global, Taiwan   By Hui Ching-hoo

Taiwan’s offshore funds’ total assets under management hit a fresh high of NT$3.1 trillion (US$103.33 billion) as of the end of February 2014, according to statistics from the Securities Investment Trust & Consulting Association (SITCA). 

Offshore equity funds topped their peers during the period with growth of 5% month-on-month, reaching a 30-month high of NT$1.3 trillion. They were followed by offshore high-yield bond funds, whose total AUM stayed above the NT$1 trillion mark for the second consecutive month, reaching NT$1.09 trillion as of February 28.

The growth was mainly driven by the global economic recovery as well as the stimulus provided by the Plan to Encourage Stronger Business Ties in Taiwan for Offshore Funds, an initiative launched by the Taiwanese government which aims to encourage growth and development of the island’s offshore fund business.

The findings also indicate that the top ten offshore asset managers in Taiwan had total AUM of around NT$2.49 trillion. Of this, the three largest offshore asset managers – Franklin Templeton, AllianceBernstein, and JP Morgan Asset Management – have AUM of NT$507.4 billion, NT$481.9 billion, and NT$370.6 billion, respectively.