Pioneer Investments, the asset management subsidiary of UniCredit, Italy’s biggest bank, has announced that its subsidiary in Taiwan - Pioneer Investments Taiwan - has assumed the role of master agent for the company’s 21 registered funds, upon receiving approval from Taiwan’s Securities and Futures Bureau.

Building on the business in Taiwan, the licence will allow Pioneer Investments Taiwan to interact directly with Taiwanese distributors, the firm said in a statement.

“With over €2 billion ($2.76 bilion) net sales over the last 3 years, it’s a natural step for Pioneer Investments Taiwan to act as master agent for our products, given the size and scale of our business in Taiwan,” said Jack Lin, head of Asia and Middle East at Pioneer Investments.

“Asia remains an important driver of growth for Pioneer Investments globally and our investment into the region continues to deliver impressive results,” Lin said. “Investors and asset owners in the region are attracted to the quality of products available from Pioneer Investments, backed by experienced investment management teams, which are helping deliver solutions in the region to on-going investment challenges,” added Lin.

Pioneer’s global investment centres are in Boston, Dublin and London. Globally the firm has over 2,000 staff, of which 340 are investment professionals.