Prudential Asset Management (Singapore) Ltd is Singapore's Most Improved Retail Fund House

Singapore - 27 February 2007

Prudential Asset Management Singapore (PAMS) has won the coveted award of "Most Improved Retail Fund House in Singapore for 2006", at the Asia Asset Management's annual "Best of the Best" Awards.

This country award honours the fund management company who has the best overall growth of net assets over a 12-month period from October 2005 to October 2006. PAMS came up tops with by far the largest boost of 85% in assets raised for the year.

PAMS is now the 4th largest fund house in Singapore, with S$2.4 billion in assets under management. This translates into an improved marketshare of 9.6% in Singapore's highly competitive fund management market, up from 5.7% in 2005.

Mr Suraj Mishra, CEO of PAMS, is grateful for the strong support of its partners. He attributes the firm's success to its 3Ps - partners, performance and products. "We constantly seek to understand what our investors need and want from their investments. We use our understanding to develop new products or focus on existing funds, which we believe have potential upside for our investors. We do not launch funds just for the sake of launching funds. We take time to research and understand the local market," he says.

Among PAMS' funds that showed good gains in 2006 were the PRU Global Basics Fund, which recorded a 18.9% gain (13.2% offer-bid) , the PRU Dragon Peacock Fund with a 37.1% gain (30.5% offer-bid) and the PRU Pan European Fund with a 26.5% gain (20.4% offer-bid), all for the year ended 31 December 2006, net income reinvested.

The PRU Income X which was launched on 25 April 2006, also fared well. Although the fund does not have a fixed or guaranteed rate, it aims to provide 9% return for the first year. At the moment, the fund is on track to meet this target.

For 2007's economic outlook, Mr Mishra believes that although valuations at the aggregate level globally are now at or near cyclical highs, the year's outlook remains solid. The main drivers of growth, according to Mr Mishra, will continue to derive from the benefits of corporate restructuring, something that is very evident in the Euro zone and Asia - to a lesser extent Japan, and growing domestic demand in particular Asia and increasingly in the Euro zone.

"It is becoming increasingly obvious that Asia's growth engine will become progressively more independent of the US," he says. "These drivers should increase in importance this year, as US growth slows in turn slowing export growth".

About Prudential Asset Management Singapore Ltd

Prudential Asset Management (Singapore) Limited ("PAMS") is an ultimately wholly owned subsidiary of Prudential plc. PAMS was set up as a company in 1994. PAMS enjoys direct access to extensive global research and fund management capabilities of the Prudential Group in Europe, USA and key Asian markets including Japan, Taiwan, Korea, India and Malaysia.

As at 31 December 2006, PAMS has approximately S$41.4 billion of assets under management, of which approximately S$17.18 billion are discretionary funds managed in Singapore. PAMS was awarded the "Most Trusted Investment Fund Company in Singapore" at the Reader's Digest Trusted Brands Awards in 2006.

For more information

Lynda Lee
6317 9616
Lynda.lee@prudential.com.sg

Alicia Lim
6317 9620
Alicia.lim@prudential.com.sg

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