Taiwan’s Uni-President Asset Management Corporation has become the first local asset manager licensed to provide investment services such as financial and succession planning for family offices and wealthy individuals.
The company announced the licence from the Financial Supervisory Commission (FSC) in a statement on December 23, saying that the company wants to keep the assets of the wealthy within Taiwan.
The FSC is promoting family offices as Taiwan seeks to establish itself as a regional asset management hub, with the goal of doubling the size of the local asset management industry to NT$60 trillion (US$1.92 trillion) by 2030.
Official data shows that ultra-high-net-worth individuals and family offices in Taiwan hold an average $3.5 billion of assets.
According to Uni-President, issues such as wealth sustainability and tax planning have become key focus areas for family offices, and that it will collaborate with “strategic” partners, including lawyers and accountants, to provide them with tailored asset management solutions.
“We aim to keep the assets of high-net-worth families within Taiwan and prevent their capital from flowing overseas,” the company says.
Uni-President ranks sixth among Taiwan’s 37 asset managers, managing around NT$442 billion of assets.
