Taiwan to Merge Four State Asset Managers Into $12 Billion Firm

Taiwan plans to merge its four state-backed asset managers into a local fund giant with about $12 billion of assets, as the government seeks consolidation in the island’s financial industry to boost its competitiveness.

“We will move toward the goal of merging the four asset managers into one,” Finance Minister Chuang Tsui-Yun said in response to lawmakers’ questions at the legislature Wednesday.