Taiwan fund growth reaches plateau

Taiwanese fund managers are facing difficulties in raising new funds amid a lackluster stock market.

After an explosion of about 40 new funds in the market this year, Taiwanese investors' appetite for mutual fund investments is showing signs of decrease. Two of the three new funds launched this month have received a dismal response. It seems unlikely that the 13 funds that are set to join the market in the next two months will fare well given the volatility in the local market and the consequent lack of demand for new funds.

Yuanta Securities Investment Trust Yuanta SIT - the sixth largest manager by assets under management as of May 2000 - launched a new fund last week hoping to raise NT$5 billion $161 million. The manager...

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