JPMorgan Asset Management Taiwan will strive to surpass peers in asset size in five years from its current third place, newly installed company head Judy Shih (石恬華) said yesterday.
Assets under management stood at NT$483.1 billion (US$16.02 billion) as of December last year, accounting for 10 percent of market share in Taiwan, behind Franklin Templeton Investments and AllianceBernstein, Shih said.
“I don’t see any reason we cannot become the No. 1 brand here, as our ranking has improved from sixth to third over the past three years,” Shih said.
JPMorgan aims to improve sales of equity funds this year while developing new products to meet customer needs, she said.
The investment adviser is also to focus on aggregate bond funds that have gained quick acceptance among Taiwanese investors due to the monthly distribution of interest income, she added.
JPMorgan Taiwan vice president Alex Chio (邱亮士) said an internal survey the company conducted showed that 36 percent of Taiwanese buy funds because they want regular savings.
Retirement planning, 34 percent, was the second-most common reason cited by respondents, followed by house or vehicle purchases at 12 percent, Chio said.
A quarter of Taiwanese rely on their own judgement when making investment decisions, while 23.4 percent and 21.8 percent consult fund managers and news media respectively, according to the survey, which garnered responses from 2,148 adults from March 19 to March 26.
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
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