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Eastspring Investments

Eastspring Investments
Company typeSubsidiary
IndustryInvestment management
Founded1994; 31 years ago (1994)
Headquarters
Marina Bay Financial Centre, Singapore
Number of locations
11 markets in Asia
Key people
Hsieh Fu Hua (Chairman)
Bill Maldonado (CEO)
AUMUS$271 billion (Sep 2024)
Number of employees
~400 (2023)
ParentPrudential plc
Websitewww.eastspring.com
Footnotes / references
[1][2]

Eastspring Investments (also known as Eastspring) is an investment management firm headquartered in Singapore that is focused on investments throughout Asia. It is a subsidiary of Prudential plc.

History

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Eastspring was originally the investment management arm of Prudential Corporation Asia, the Asian branch of Prudential plc that was established in 1994.[1][2][3][4][5]

In 1998, it formed a joint venture with ICICI Bank named ICICI Prudential Mutual Fund which is located in Mumbai and is currently one of the largest asset management companies in India.[1][2][3][6][7]

In 1999, it formed a joint venture with BOC International named BOCI-Prudential Asset Management to provide services for Mandatory Provident Fund scheme in Hong Kong.[1][2][8][9]

In 2005, it formed a joint venture with CITIC Group named CITIC-Prudential Fund Management Company which is based in Shanghai.[1][2]

In 2009, it established Eastspring Al-Wara' Investments Berhad in Malaysia to enter the Islamic Finance business.[2][10]

In 2011, the investment management arm was rebranded to have its own separate brand name, Eastspring Investments.[2][3][4] There were various reasons for the business to operate under its own brand name. Fifty percent of its assets under management from third parties rather than Prudential itself.[3] There were also legal constraints on using the name "Prudential" to label the firm or its products as Prudential Financial, a non-related US company already had the legal rights to use the name.[3] Finally the business had little name recognition in the United Kingdom and at the time, Prudential already had an investment management arm set up there named M&G.[3]

In July 2018, it acquired 65% of TMB Asset Management from TMBThanachart Bank in Thailand.[1][2][11][12] It made a further acquisition in Thailand in September 2019, where it acquired 50.1% of Thanachart Fund Management from Thanachart Bank for $137m[1][2][12][13] In 2022, all Thailand entities were merged into one entity forming Eastspring Asset Management (Thailand) Company Limited.[14]

Business overview

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Eastspring is focused on 11 markets in Asia and is headquartered in Singapore. Although its business is mainly in Asia, it has additional distribution offices in North America and Europe.[1][2][3][4]

Eastspring focuses on four asset classes: Equity, Fixed Income, Multi Asset Solutions and Quantitative.[1]

References

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  1. ^ a b c d e f g h i "Wayback Machine" (PDF). 5 November 2022. Archived from the original (PDF) on 5 November 2022.
  2. ^ a b c d e f g h i j "Company overview | Global | Eastspring Investments". www.eastspring.com. Archived from the original on 2 December 2022. Retrieved 5 November 2022.
  3. ^ a b c d e f g "New name signals global push for Eastspring | Moves | AsianInvestor". 28 January 2022. Archived from the original on 28 January 2022. Retrieved 5 November 2022.
  4. ^ a b c Ben-AmiNovember 2017, Daniel. "Strategically speaking: Eastspring". IPE. Retrieved 5 November 2022.{{cite web}}: CS1 maint: numeric names: authors list (link)
  5. ^ "Top 5 1st Quarter Trades of PR - GuruFocus.com". www.gurufocus.com. Archived from the original on 5 November 2022. Retrieved 5 November 2022.
  6. ^ Das, Saikat. "ICICI Prudential AMC completes a decade, highlights focus". The Economic Times. Archived from the original on 5 November 2022. Retrieved 5 November 2022.
  7. ^ "Top 10 AMCs in India 2022 | Best Mutual Fund Companies". www.fincash.com. Archived from the original on 5 November 2022. Retrieved 5 November 2022.
  8. ^ "Prudential Asset Management enters Hong Kong retail fund market". www.prudentialplc.com. Archived from the original on 5 November 2022. Retrieved 5 November 2022.
  9. ^ "BOCI-Prudential Asset Management Limited". www.ifund.com.hk. Archived from the original on 5 November 2022. Retrieved 5 November 2022.
  10. ^ "Prudential unit appoints CEO for M'sian Islamic funds business". The Star. Archived from the original on 14 April 2016. Retrieved 5 November 2022.
  11. ^ "Eastspring acquires 65% of Thailand's TMB Asset Management | Asia Asset Management". www.asiaasset.com. Retrieved 5 November 2022.
  12. ^ a b "Prudential's Eastspring buys second Thai asset manager to boost growth". Reuters. 1 October 2019. Archived from the original on 5 November 2022. Retrieved 5 November 2022.
  13. ^ "Eastspring completes acquisition of Thai mutual fund manager". 3 January 2020. Archived from the original on 3 January 2020. Retrieved 5 November 2022.
  14. ^ Ajanapanya, Nongluck (25 July 2022). "New trends make Thai saving-investment market 'brightest in SE Asia'". nationthailand. Archived from the original on 5 November 2022. Retrieved 5 November 2022.
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