Manulife buys Malaysian fund house
MAAKL Mutual will add more than 50% across 27 funds to the Canadian firm’s Malaysian assets under management, and quadruple its agency sales force.
Manulife Holdings has agreed to acquire 100% of MAAKL Mutual, part of Kuala Lumpur-based MAA Group, which will boost its Malaysian assets to RM7 billion ($2.19 billion) and make it one of the country’s top 10 unit trust firms.
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