Malaysia’s Etiqa to shift asset management in-house
Mayban Investment Management, which runs the portfolio of domestic insurer Etiqa, will become a stand-alone manager of third-party assets.
Kuala Lumpur-based insurer Etiqa is set to move its investment portfolio in-house, leaving Mayban Investment Management – which currently runs these assets – with its third-party funds, say sources familiar with the organisations.
The move would reverse a four-year-old deal, whereby Mayban Ageas Holdings bought a 100% stake in Mayban IM from Maybank, after which the asset manager started running Etiqa’s investment portfolio. Mayban Ageas is itself 69%-owned by Etiqa International …
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