Eastspring Investments, the Asia asset management arm of UK-based Prudential, has been accredited as one of Bangko Sentral ng Pilipinas (BSP) Provident Fund’s equity fund managers.

Eastspring Investments is the first foreign fund manager to manage BSP’s Philippines equity portfolio.

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BSP is the central bank of the Republic of the Philippines. Eastspring Investments will manage the Philippines equity mandate for the BSP Provident Fund, which provides retirement funding for BSP’s employees.

"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," Mr Ted Pull, Chief Financial Officer, Eastspring Investments, said at the signing ceremony held last Monday in Singapore.

Also speaking at the signing ceremony, Vicente Aquino, Deputy Governor, BSP, commented that Eastspring Investments was chosen after stringent rounds of evaluation.

"Apart from excellent investment performance, we are very pleased to have chosen a renowned fund manager that we could entrust in. 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," Aquino said.

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"We are deeply honoured to be BSP Provident Fund’s first foreign fund manager for this asset class, as they have previously selected onshore managers," Mark Yuen, Head of Institutional Sales for Southeast Asia, Eastspring Investments said.

"This is also our first external institutional client in the Philippines, and this accreditation highlights our commitment to provide the best service in investment management," Yuen continued.