 | |
.jpg) Headquarters at Marina Bay Financial Centre | |
| Company type | Subsidiary |
|---|---|
| Industry | Investment management |
| Founded | 1994 |
| Headquarters | |
Number of locations | 11 markets in Asia |
Key people | Seck Wai Kwong (CEO) |
| AUM | US$228 billion (June 2023) |
Number of employees | ~400 (2023) |
| Parent | Prudential plc |
| Website | www |
| 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.
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]
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]
