Eastspring registers three Lux funds in Switzerland

Eastspring Investments, the Asia investment management arm of Prudential plc, has received the approval of FINMA, the Swiss regulator, to distribute three of its strategies in Switzerland.

This includes the following funds, all part of the firm’s existing Luxembourg SICAV: Eastspring Investments Asian Low Volatility Equity Fund, Eastspring Investments Global Emerging Markets Dynamic Fund, and the Eastspring Investments Japan Smaller Companies Fund.

In announcing that it had received the approval of FINMA for its funds, Eastspring also announced slight changes for the latter of the three, the Japan Smaller Companies Fund.

With effect from 3 April, the investment objective of this fund, it said, will be amended to: “This fund aims to maximise long-term capital appreciation by investing primarily in equity and equity-related securities of corporations which are incorporated in, or listed in, or operating principally from, or carrying on significant business in, or derive substantial revenue from, or whose subsidiaries, related or associated corporations derive substantial revenue from Japan.”

It added: “The investment universe is the bottom third in terms of total market capitalisation of all publicly listed equity in Japan.

“The fund may also invest in medium-sized and larger companies in order to enhance its liquidity.

“The fund may also invest in depository receipts, including ADRs and GDRs [American Depositary Receipts and Global Depositary Receipts], debt securities convertible into common shares, preference shares and warrants.”

Eastspring said these amendments would not have any active impact on the management of the fund.

The addition of the three Eastspring funds raises to 17 the number of Eastspring Investments’ strategies currently available to Swiss investors.

Eastspring Investments had US$140.3bn in assets under management at the end of June, 2016.

UK-based insurance giant Prudential rechristened its Asia asset management arm with the Eastspring Investments name in the first quarter of 2012, after announcing the planned re-branding in November of 2011.

In announcing the rebranding, Prudential said Eastspring Investments would aim to “accelerate the growth of the business worldwide” and “capitalise on its expertise in Asia”.

Prudential first invested in Asia in 1863, in Indian railway stocks.

ABOUT THE AUTHOR
Helen Burggraf
Helen Burggraf is the editor of International Investment. A US-trained journalist, she has worked in Rome, New York City and London, covering everything from the fashion and retailing industries to the global drinking water and water-treatment sector, private equity, and most recently, the international cross-border financial services/advice industry.

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