Staff
A subsidiary of Manulife Financial has signed a deal to acquire MAAKL Mutual Bhd, a unit trust company based in Malaysia.
This acquisition will increase Manulife Holdings Berhad’s total assets under management to RM7 billion ($2.29 billion), making it one of the top 10 asset management firms in the country.
“This acquisition gives us an excellent opportunity to accelerate Manulife Asia’s growth strategy in Malaysia,” says Mark O’ Dell, group CEO of Manulife Holdings Berhad.
Incorporated in October 2000, MAAKL currently offers 27 unit trust funds.
The deal is expected to close within the next two months, subject to regulatory approval.
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