Hedge Funds and Alternatives Hedge Funds
February 27, 2012
Prudential Pushes Asia Asset Management Arm into U.S. and Europe
Prudential plc's Asia asset management unit is rebranding in order to sell Asian equity and bond funds to the U.S. and European markets.
By Allen T. Cheng
Prudential plcs Asia asset management unit is rebranding as Eastspring Investments in a move that could pave the way for the U.K. insurance giant to sell Asian equity and bond funds to the U.S. and European markets.
Guy Strapp, the Hong Kongbased deputy chief executive officer of Eastspring Investments, which has $80 billion in assets under management, says now is a good time to expand into the U.S. and Europe as global institutional investors are increasingly interested in products that tap into Asias growth, not only Asian equities but also corporate bonds.
The household indebtedness level is in far better shape in Asia than in the U.K. or the U.S., says Strapp, adding that low debt levels give Asia the fundamentals for longer-term sustainable growth. We also think the proposition of our Asian expertise and being able to take it to the U.K. and North America is compelling. There are still very large pools of assets looking for growth returns, and Asia offers plenty of opportunities.....