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Eastspring to launch global growth fund in Singapore

The firm has also rolled out an Islamic equity fund in Malaysia.

Eastspring Investments is waiting for approval from the Monetary Authority of Singapore (MAS) for its Global Growth Equity Fund to be launched in the Lion City, according to records from the regulator.

The product is expected to be launched later this month, according to the fund’s prospectus.

The fund, which was incepted in April last year, has not yet been launched to Singapore’s accredited investors, according to data from FE.

The product aims to invest in high-quality global businesses that exhibit growth investment characteristics, such as above average growth rates in earnings, cash flow and revenues, as well as pricing power, according to the prospectus.

The firm offers other global equity products in Singapore, which include the Eastspring Global Themes Fund, Global Low Volatility Equity Fund and the Global Technology Fund, according to data from FE.

The firm is also expected to develop an ESG quant strategy.

Malaysia launch

Separately, Eastspring announced last week that it launched the Islamic Equity Income Fund in Malaysia, according to a statement from the firm.

The product, which invests in domestic equities, is a shariah-compliant equity fund that seeks to provide a stable income with medium to long-term capital growth.

Shariah-compliant funds are invested in line with basic Islamic principles. For example, no stocks may derive income from gambling, alcohol, tobacco, pork products, adult entertainment or military equipment. The principles also restrict the use of some mainstream financial instruments such as debt-financing, charging interest or the use of derivatives.

The firm noted that the fund will be a shariah-compliant version of the company’s equity income fund. Quality management, stable earnings growth and sustainable dividend yields are among the criteria for investment.

“This strategy is intended to provide steady recurring income, as well as capital appreciation over the medium- to longer-term,” Doreen Choo, the firm’s Malaysia-based CIO, said in the statement.

In Malaysia, Eastspring manages around $5bn in assets, according to data from Morningstar Direct. It also offers around 26 funds in the country, FE data shows.

Part of the Mark Allen Group.