Manulife Wealth & Asset Management has signed an agreement to acquire PT Schroder Investment Management Indonesia (Schroder Indonesia) through its local unit PT Manulife Aset Manajemen Indonesia (MAMI).
The announcement confirms Reuters’ report back in December 2024, that the firm is looking to sell its Indonesian business as it looks to cut operations in some markets in which it lacks scale.
The deal—which is still pending regulatory approval from Indonesia’s Financial Services Authority (OJK)—will combine Manulife’s onshore scale with Schroders Indonesia’s three decades of investment expertise to broaden the range of investment products for local clients.
Financial terms of the transaction were not disclosed, and both firms will continue to operate independently until closing.
MAMI, established in 1996 now become Indonesia’s largest asset manager with 101.7 trillion rupiah (approximately $6.09 billion) in assets under management (AUM) and serves over 2.5 million as of June 30, 2025. It expects the transaction to reinforce its long-term commitment to the Indonesian market, offers a comprehensive suite of investment solutions across mutual funds, segregated mandates, and sharia-compliant products.
While Schroders Indonesia manages over 56 trillion rupiah ($3.35 billion) in AUM, more than half of MAMI’s, it ranks as the country’s fifth-largest asset manager. The firm has established a solid investment team and developed a robust distribution network across the country’s intermediary channels, while maintaining deep partnerships with leading institutional investors since operating in Indonesia in 1991.
“We are pleased to enter into this agreement with Schroders Indonesia, which reflects our long-term commitment to the Indonesian market,” said Fabio Fontainha, Manulife’s head of wealth and asset management for Asia, in a statement. “[..] We are bringing together two of Indonesia’s leading fund management companies, with a shared vision to deliver enhanced value to clients and stakeholders [..].”
Chris Durack, Schroders’ chair of Asia, added, “Schroders is focused on delivering the greatest value and investment outcomes for clients. In joining Manulife Wealth & Asset Management, Schroders Indonesia has found a firm that shares our client-first philosophy and long-term vision, unlocking new growth opportunities for both our clients and our people.”
