TMB Eastspring successfully completes property fund IPO

TMBAM Eastspring, the combined entity of Eastspring Investments (“Eastspring”) and TMB Asset Management, has successfully completed the initial public offering (IPO) for its Asia Pacific Property Flexible Fund. The week-long IPO period saw over USD 91 million in flows. The fund will allocate approximately 60% of investment sums to real estate investment trusts (REITS) in the Asia Pacific region, with the rest allocated to regional real estate equities. Average investment return is expected to be in the range of 6-10% (annualised) before deduction of expenses over a three-year investment horizon.

“The fund’s flexible investment policy in REITs and real estate equities means we can manage the allocation to benefit clients from a risk and return standpoint. Stock valuation in emerging markets is at an attractive price threshold and the outlook remains compelling for investment,” commented Dr Somjin, Chief Executive of TMB Eastspring. “The IPO reflects strong investor confidence in our fund and in this market despite global volatility.”

This is the first product launched by the combined entity since Eastspring, the USD 195 billion Asian investment management arm of Prudential plc, completed its 65% acquisition of TMB Asset Management from TMB Bank in October 2018. 

According to Nic Nicandrou, Chief Executive, Prudential Corporation Asia, “The development of this fund is an example of how we are combining Eastspring’s product offering and investment expertise with TMBAM’s local expertise and insights, to create a ‘best in class’ investment solution. The success of the IPO is a great milestone and clear recognition of our investment capability in this area.”

Eastspring has a distribution partnership with TMB Bank (Thailand's seventh largest bank by assets) and has an option to increase ownership of TMB Asset Management to 100% in the future. With assets under management of THB378 billion, TMBAM Eastspring ranks fifth among asset management companies in Thailand.

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Note to Editors:

About Eastspring Investments

Eastspring Investments is a leading Asia-based asset manager that manages over USD 195 billion (as at 30 September 2018) of assets on behalf of institutional and retail clients. Operating in Asia since 1994, Eastspring Investments is the Asian asset management business of Prudential plc, an international financial services group, and has one of the widest footprints across the region*. We provide investment solutions across a broad range of asset classes including equities, fixed income, multi asset solutions and alternatives and are committed to delivering high quality investment outcomes for our clients over the long term. Eastspring Investments is a signatory to the United Nations-supported Principles for Responsible Investment (PRI), a voluntary program which encourages best practice in environmental, social and corporate governance issues.

For more information on Eastspring Investments, please visit: www.eastspring.com

*Eastspring Investments (excluding JV companies) companies are ultimately wholly-owned / indirect subsidiaries / associate of Prudential plc of the United Kingdom. Eastspring Investments companies (including JV's) 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. 

 

 

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