Singapore - 28 March 2008
Singapore Post Limited ("SingPost") and Prudential Asset Management (Singapore) Limited ("PAM Singapore") today announced that they have launched a new fund, International Opportunities Funds ("IOF") - Asian Property Securities. The fund aims to make 1% payout every quarter1,2 for Class FShares. The offer period starts today, 28 March 2008.d
The fund is exclusive to SingPost customers and is available at selected post offices. This initiative is the result of the growing partnership between SingPost which took root in November 2006. With the latest addition, the range of investment products under SingPost's "Care for Life" portfolio has grown even more comprehensive.
IOF - Asian Property Securities invests primarily in listed closed-ended Real Estate Investment Trusts (REITs) and property related securities of companies, which are incorporated, listed in or have their areas of primary activities in Asia Pacific, which includes Japan, Australia and New Zealand. The fund may also invest in depository receipts [including American Depository Receipts (ADRs) and Global Depositary Receipts (GDRs)], debt securities convertible into common shares, preference shares and warrants.
SingPost's Executive Vice President of Retail & Financial Services, Mr Loh Choo Beng said: "We are happy to offer this new fund exclusively to SingPost's customers who are seeing the benefits of financial planning. The IOF – Asian Property Securities fund is very appealing as it is affordable – as little as minimum investment of SGD1,000 is needed for the Class F Shares and SGD5,000 for Class Fd Shares for customers who look for quarterly dividend payout2."
"We will continue to work closely with PAM Singapore to explore new investment funds which suit our customers to help extend our range of quality products and services that we offer through our post office network," he continued.
Mr Jene Lua, General Manager of PAM Singapore, said: "Asia's concrete long-term growth, large population, growing middle-class and sound fundamentals fuel Asia's demand for commercial and residential properties. REITs provide a good shelter for volatile markets, given their attractive and steady income yields. It has relatively low correlations with other asset classes and is one of the effective inflation hedge products. It provides regular income stream and capital preservation for investors. This fund enables investors to maintain a well diversified portfolio."
"The synergy between both companies can create value to customers. This partnership allows SingPost customers direct access into Prudential's range of funds. The investment products that we offer via the branches are funds with established track records, spread across a spectrum of asset classes. These include the PRU Dragon Peacock Fund, PRU Global Basics Fund, PRU Global Balanced Fund, PRU Asian Balanced Fund, PRU Income X and PRU Monthly Income Plan," he continued.
IOF - Asian Property Securities is an open-ended fund and is suitable for investors looking for possible source of income and capital appreciation in long term.
||28 March 2008
||Prudential Asset Management (Singapore) Limited
||Class Fd - quarterly payout1
Class F - cumulative
||At prevailing NAV
||Class Fd - SGD 5,000
Class F - SGD 1,000
||Every business day in Luxembourg
||Cash & Supplementary Retirement Scheme (SRS)
|Initial sales charge
||Currently at 5%
|Annual management fee
Call 1605 or email us at email@example.com
Head, Marketing & Investment Services, Prudential Asset Management (Singapore) Limited
Tel: +65 6317 9616
Tay Poh Choo
Vice President, Corporate Communications & Customer Service, SingPost
Tel: +65 6845 6409
Manager, Corporate Communications, SingPost
Tel: +65 6845 6298
About Singapore Post Limited
SingPost, the designated Public Postal Licensee for Singapore, provides efficient and high quality domestic and international postal services. One of the most efficient postal operators in the world, SingPost received global recognition in the World Mail Awards for the Quality category in 2007. SingPost is also the leading logistics provider in the domestic market, with global service offerings to more than 220 territories/countries. It has won the EMS Cooperative Certification Gold Level Award by the Universal Postal Union (UPU) for its Speedpost Worldwide courier service and is the only postal administration in the world to win this for six consecutive years since 2001. SingPost also owns one of the largest retail distribution networks through its tri-channel platform of post offices, Self-service Automated Machines (SAMs) and vPOST, its internet portal. With its extensive network, SingPost provides a one-stop convenience to its customers for a wide range of products and services, including agency, postal and financial services.
About Prudential Asset Management (Singapore) Limited
Prudential Asset Management (Singapore) Limited ("PAM Singapore") is an ultimately wholly owned subsidiary of Prudential plc ("Prudential"), a company incorporated in England with its head office in London, which, with its affiliated companies constitutes one of the world's leading financial services groups. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world. It has been in existence for 160 years and had £267 billion (approximately equivalent to SGD765.06 billion) in assets under management as at 31 December 2007.
PAM Singapore was set up as a company in 1994 and has been managing discretionary funds since 1995. As at end September 2007, PAM Singapore achieved about SGD 62.75 billion of assets under management, of which approximately SGD30.52 billion are discretionary funds managed in Singapore.
1 The payout is based on the initial issue price of SGD10.
2 Distribution payments shall, subject to determination by the Directors of IOF, be made out of either (a) income; or (b) net capital gains; or (c) capital of the Fund or a combination of (a), and/or (b) and/or (c). Distributions are at the discretion of the Directors of IOF and there is no guarantee that any distributions will be made. The Directors of IOF may also vary the frequency and/or amount of the distribution made.
Singapore Post Limited ("SingPost") (Company Reg.No. 199201623M) does not carry on the business of soliciting or receiving proposals for insurance and investment products, and does not carry as an agent for any insurer or fund manager in relation to the insurance and investment products or services provided or sold. SingPost is not responsible for any matters in relation to the products or services provided or sold.
The IOF-Asian Property Securities (the "Fund") is a sub-fund of the International Opportunities Fund (the "Company"), an open-ended investment company incorporated in Luxembourg under the laws of the Grand Duchy of Luxembourg as a "Sociètè Anonyme" qualifying as a "société d'investissement à capital variable" (the "SICAV"). The Fund is recognized under the Securities and Futures Act of Singapore. The Company has appointed Prudential Asset Management (Singapore) Limited ("PAMS") as its non-exclusive distributor of the Fund.
This document should not be construed as an offer or solicitation for the subscription, purchase or sale of the Fund mentioned herein. A prospectus in relation to the Fund is available and may be obtained through PAMS or SingPost. All applications for units in the Fund must be made on the application forms accompanying the prospectus. Potential investors should read the prospectus before deciding whether to subscribe for or purchase units in the Fund. Investments in units of the Fund are not obligations of, deposits in, or guaranteed by PAMS, its appointed distributors or their respective affiliates. An investment in unit trusts is subject to investment risks, including possible loss of the principal amount invested. Past performance of the Fund and its fund manager are not necessarily a guide to the future or likely performances. The value of the units in the Fund and the income accruing to such units, if any, may fall or rise. The predictions, projections or forecasts on the economy, securities trends of the markets targeted by the Fund are not necessarily indicative of the future or likely performance of the Fund. This brochure does not have any regard to the specific investment objective(s), financial situation or the particular needs of any person. Potential investors may wish to seek advice from a financial adviser before purchasing units in the Fund. In the event that potential investors choose not to seek advice from a financial adviser, they should consider whether the Fund is a suitable investment for them. Units in Fund are not available to US persons. Whilst the Manager has taken all reasonable care to ensure that the information contained in this document is not untrue or misleading at the time of publication, the Manager cannot guarantee its accuracy or completeness. Investor should not act on it or without first independently verifying its contents. Any opinion or estimate contained in this document is subject to change without notice. PAMS and its related affiliated corporations together with their respective directors and officers may have or may take positions on the securities mentioned in this brochure and may also perform or seek to perform brokering and other investment services for the corporations whose securities are mentioned in this brochure as well as other parties. PAMS is an ultimately wholly-owned subsidiary of Prudential plc of the United Kingdom. PAMS and Prudential plc are not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.