Asian asset manager Eastspring Investments, part of financial group Prudential, has recently appointed former Schroders and Pimco’s equity head Virginie Maisonneuve as its new chief investment officer.
Speaking recently during a media briefing in London, Eastspring’s CEO Guy Strapp (pictured) highlighted that Maisonneuve’s role will be key to the development of the company and that it was a sign Eastspring is becoming “a serious player” in the asset management industry.
Strapp said the priority for the “Asian-centric” firm was to continue to invest after it enjoyed three years of strong growth and to be able to offer Asia-based investors more relevant solutions as they become increasingly sophisticated.
Some 95% of Eastspring’s assets under management ($140bn as of 30 June 2016) come from Asia-based investors.
Eastspring expanded its business to Luxembourg and the UK back in 2013. Over a three-year period, the firm has achieved to draw $1.8bn of inflows from Middle-East and Europe-based clients.
Japanese equity and US fixed income strategies have been among the most demanded products by investors. Two of the firm’s Japanese equity funds have been soft-closed.
If the firm’s European focus was firstly pushed on sophisticated fund buyers such as wealth managers, funds of funds and family offices, talks with pension funds and investment consultants are growing importantly.
Eastspring plans to strengthen its teams in Europe, register more funds across the region and to do more with joint venture partners.
Speaking of the Asian markets, Eastspring’s CEO Strapp said “Asia still offers high growth.”
“Demographics are an appealing trend especially in Southeast Asia and that will last for the coming 20 years,” he added, stressing that from a yield perspective Asian economies were in a much stronger shape than they were at the end of the 90s at the time of the Asian financial crisis.