Manulife Wealth & Asset Management has completed the purchase of PT Schroder Investment Management Indonesia (SIMI) through its Indonesian subsidiary PT Manulife Aset Manajemen Indonesia (MAMI).

Financial specifics of the deal were not disclosed.

The deal was finalised after regulatory clearance from the Otoritas Jasa Keuangan (OJK) and fulfilling other closing requirements.

With the transaction now closed, the group is moving into the integration stage.

MAMI and SIMI will initially continue to run as separate organisations, with existing structures kept in place while systems, operations, and teams are combined gradually under a phased plan.

During this period, clients, distributors, and employees are to be informed regularly about any changes to brand usage, products, and operational processes, with the intention of preserving service continuity.

As of 31 December 2025, MAMI was responsible for assets of Rp124.3tn ($7.3bn) and served more than 2.5 million customers.

Manulife Wealth and Asset Management Asia head Fabio Fontainha said: "The completion of this acquisition reflects our long–term commitment to Indonesia and further consolidates MAMI's position as the country's largest asset manager.

“By combining the capabilities of two leading asset managers, we are shaping a stronger, more future-ready platform – one with the scale, innovation capacity, and global insight to broaden our offerings and elevate the value we deliver to clients.”

Schroders has been active in Indonesia since 1991 and set up its investment management business in the country in 1997. SIMI reported assets under management of more than Rp53tn ($3.2bn) as of December 2025.

Schroders Indonesia CEO and president director Michael T. Tjoajadi commented: "For more than three decades, our team has been dedicated to building a trusted, client–focused franchise.

“Joining MAMI marks an important next chapter – one that preserves the strengths and culture our people are proud of, while providing access to broader resources, deeper capabilities, and new opportunities for growth. We look forward to contributing our expertise as part of a larger, highly respected organisation."

Last month, L&G and Manulife Wealth & Asset Management formed a partnership to develop wealth and retirement solutions for clients in Europe, Asia, the US, Canada, and Bermuda.

"Manulife WAM finalises acquisition of Schroders Indonesia arm" was originally created and published by Private Banker International, a GlobalData owned brand.

 

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