Category Archive: Funds

Feb
16
2012

Prudential Asset Management Renamed as Eastspring InvestmentsAs

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by Martin Lee

February 16, 2012

As part of a rebranding exercise, Prudential Asset Management will become known as Eastspring Investments. The change takes place with effect from 14th February 2012 and will provide for a unified brand.

The new brand name will replace the different business names currently in use in Singapore, Hong Kong, Malaysia, Taiwan, Japan, Korea, the United Arab Emirates and Vietnam. The new brand will not apply to joint venture operations in China and India, or in Hong Kong through BOCI-Prudential.

In Singapore, the name will change from Prudential Asset Management (Singapore) Limited to Eastspring Investments (Singapore) Limited.

As a result of the change, the funds here will also undergo a name change.

PRU Income X -> Eastspring Income X

Sub funds of Prudential Unit Trusts

- PRU Pan European
- PRU Global Technology
- PRU Asian Balanced
- PRU Dragon Peacock
- PRU Global Basics
- PRU Global Balanced
- PRU Asian Infrastructure Equity
- PRU Global Positioning Strategy
- PRU Singapore Select Bond
- PRU Protected Global Titans (S$)

Eastspring Investments Unit Trusts

- Eastspring Pan European
- Eastspring Global Technology
- Eastspring Asian Balanced
- Eastspring Dragon Peacock
- Eastspring Global Basics
- Eastspring Global Balanced
- Eastspring Asian Infrastructure Equity
- Eastspring Global Positioning Strategy
- Eastspring Singapore Select Bond
- Eastspring Protected Global Titans (S$)

Sub funds of Prudential Funds

- PRU Monthly Income Plan

Eastspring Investments Funds

- Eastspring Monthly Income Plan

The name changes have no impact on the investment philosophy or process of the funds.

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Jan
03
2012

Cap of CPF Wrap Fee for Fund Investments

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by Martin Lee

January 3, 2012

Since 2006, the CPF Board has been undertaking measures to progressively lower the cost of investment and improve the quality of funds under the CPF Investment Scheme (CPFIS).

From 1 July 2012, the CPF Board will subject the wrap fee charged for CPF Investment Scheme (CPFIS) investments to a maximum limit of 1% per annum.

A wrap fee is a regular charge paid to financial advisers for providing bundled investment services, such as advisory, brokerage and administrative services. Also known as an ongoing fee, the wrap fee is typically levied quarterly by liquidating a small portion of the investment.

This new cap on wrap fees is meant to help members lower the costs of investing their CPF savings over the longer term.

The wrap fee cap will only affect CPFIS investors who have opened a wrap account with financial adviser firms, via any of the 3 CPFIS Investment Administrators (IAs) for their CPF-funded unit trust investment, before 1 Jul 2012. Currently, they can be charged a wrap fee of up to 1.5% per annum by their financial advisers.

About 30% of the 100,000 CPFIS wrap accounts are paying more than 1% per annum in wrap fees.

How much wrap fee are you paying?

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Dec
07
2011

Navigator Transaction Delay Recovery

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by Martin Lee

December 7, 2011

Yesterday, I received a letter from Navigator apologizing that one of my trade redemption requests was processed one day late.

As a result, the redemption for one of my funds was transacted at a price of 1.480 instead of 1.483.

On their own initiative and even before I had found out about the delay, Navigator had proceeded to credit the difference into my bank account. I probably wouldn’t have realized about the transaction delay if they had not informed me.

Before I received Navigator’s letter, I had even spent a few minutes with a bank officer to track where this extra money had come from.

In an age where we usually have to call up to “complain” and wait a few weeks before things are resolved, it is a refreshing change to see errors being proactively corrected without having to highlight it.

I would say it is a nice recovery process on Navigator’s part.

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Oct
18
2011

DBS Asset Management Ltd renamed Nikko Asset Management Asia Limited

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by Martin Lee

October 18, 2011

DBS Asset Management Ltd (“DBSAM/星展资产管理有限公司”) has been renamed to Nikko Asset Management Asia Limited (“Nikko AM Asia/日兴资产管理亚洲有限公司”) with effect from yesterday.

The renaming follows Nikko AM’s acquisition of DBSAM from DBS Bank Ltd (“DBS”) on September 30, 2011.

As a result, the majority of DBSAM’s funds have been renamed with the prefix “Nikko AM Shenton”.

Nikko AM Asia now comprises the integrated investment capabilities and operations of both DBSAM and NAMS. The enlarged asset manager becomes Nikko AM’s largest center of excellence in South-East Asia, with broad investment management expertise in Asian equities and Asian fixed income.

Nikko AM is one of the largest’s asset managers in Japan with total assets under management of over US$165 billion and was established in 1959.

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Jul
27
2011

Aberdeen Asian Local Currency Short Duration Bond Fund

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by Martin Lee

July 27, 2011

The Aberdeen Select Portfolio – Aberdeen Asian Local Currency Short Duration Bond Fund is a fund that was made available in Singapore a few months back by fund house Aberdeen Fund Management.

The underlying fund invests at least two thirds of its assets in short duration (maturity of three years or less) debt and debt-related securities denominated in Asian currencies and issued predominantly by Asian governments, supranational institutions or government related bodies.

Due to the short duration of the fund, it also has a nickname called “Shorty”.

In a rising interest rate environment, bonds will usually not do too well. In order to insulate a bond portfolio from the effects of rising interest rates, one of the strategies employed by fund managers is to underweight the duration of their bond holdings.

If investors are concerned about the duration exposure of their bond funds, they can also dynamically allocate some of their bond holdings to short duration bond funds. The Aberdeen Asian Local Currency Short Duration Bond Fund is one such fund.

Aberdeen itself is bullish on Asian bonds and say that Asian bonds and currencies are the new safe haven.

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