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Eastspring readies three products in Singapore

The Singapore-based asset manager is making a big bet on fixed maturity products, launching its fifth FMP this year.

Eastspring Investments is waiting for approval from the Monetary Authority of Singapore (MAS) to sell its Fixed Maturity Bond Fund, Asia Sustainable Bond Fund and Asia Real Estate Multi Asset Income Fund, according to records from the regulator.

The three products are in the recognition-pending process, according to MAS records. Once approved, they will be available to retail investors in Singapore.

When the Luxembourg-domiciled Fixed Maturity Bond Fund debuts, it will mark the fifth FMP that Eastspring has introduced in Asia this year.

In September, the Fixed Income Plan Series 2 was launched for sale to the retail investor and the firm claims it has raised S$115m ($84.5m).

In July, the firm said it raised $417m for its FMP product distributed by Standard Chartered Private Bank in Singapore, Hong Kong, the UK and the Middle East.

In Taiwan, two FMPs were launched this year and the second one was said to have raised $350m.

Of the three funds awaiting MAS approval, the Fixed Maturity Bond Fund will invest in US dollar-denominated bonds and other debt securities issued in Asia-Pacific and emerging markets, according to the prospectus.

The Asia Sustainable Bond Fund, aims to invest in “a mix of green, social and sustainability bonds and other debt securities issued by Asian governments, quasi-governments, corporates or surpranationals, which are aligned to internal ESG principles”.

The Asia Real Estate Multi Asset Income Fund invests in equities, real estate investment trusts, equity- related securities and bonds, the prospectus noted.

FSA sought more information from Eastspring, but the firm did not reply in time for publication.

ESG and multi asset

The fund launches come as Eastspring re-orients itself following a series of top level departures at the firm earlier this year, including CEO Guy Strapp, the CFO and COO.

Colin Graham, Singapore-based chief investment officer for multi-asset solutions, told FSA previously about plans to introduce multi-asset and ESG themed products.

“Given that we have just got the WFOE licence, we are thinking about China multi-asset, which is definitely on the radar,” he said, adding that the firm would have to build up its onshore China operation.

The firm is consulting with other business units under parent Prudential to understand client demand, FSA previously reported.

Part of the Mark Allen Group.