MANILA, Philippines - The Bangko Sentral ng Pilipinas (BSP) has accredited Prudential plc's Eastspring Investments as one of its provident fund's equity fund managers.
Eastspring Investments, one of Asia's largest asset managers, will manage the Philippines equity mandate for the BSP provident fund, which provides retirement funding for its employees.
"Apart from excellent investment performance, we are very pleased to have chosen a renowned fund manager that we could entrust in," said BSP deputy governor Vicente Aquinio on Monday's signing ceremony held in Singapore.
Eastspring Investments is the first foreign fund manager to manage BSP’s Philippines equity portfolio.
"Eastspring Investments was an exception in BSP provident fund’s history to be selected as the first foreign fund manager to manage our Philippines equity mandate,” he added.
Mark Yuen, head of institutional sales for Southeast Asia for Eastspring Investments said that they are "deeply honored" to be the first foreign fund manager to be awarded this mandate.
Eastspring Investments chief financial officer Ted Pull said that, “BSP’s decision to award this mandate to Eastspring Investments reflects their trust in our experience in investing in Asia as well as our valuation, research-driven investment philosophy."
Eastspring Investments most recently earned the title of the Best Asset Management Company of the Year, Southeast Asia, in the Asset Triple A Investor and Fund Management Awards 2013.