Pioneer Investments' Taiwanese subsidiary, Pioneer Investments Taiwan, has been granted approval to act as a master agent of the Pioneer Funds in Taiwan by the Taiwan Securities and Futures Bureau.
The license will allow the subsidiary to interact directly with Taiwanese distributors in the distribution of its 21 registered funds, which were previously marketed in Taiwan through ING Securities Investment & Trust Co.
Jack Lin, head of Asia and Middle East at Pioneer, said: “We have had an excellent track record so far in Taiwan and we remain excited by the opportunities here, which are supported by strong demand for our products, particularly those which aim to deliver yield and income to investors.
Since his appointment in 2012, Lin, who was born in Taiwan, has been an intergral part in the restructuring of Pioneer's Asian distribution platform.
Pioneer has reported an average growth rate of 80% per year from 2009 to 2012, ranking the firm 6th among offshore fund managers in Taiwan, as well as seeing strong Japanese and Taiwanese inflows and having successfully entered into the Korean market.
Lin added: “Asia remains an important driver of growth for Pioneer Investments globally and our investment into the region continues to deliver impressive results.