Pru Life unveils balanced fund

MANILA, Philippines — Pru Life Insurance Corp. of UK unveiled a new fund that allows policyholders invest in both bonds and equities of developed and emerging markets in the Asia-Pacific region.

Antonio De Rosas, Pru Life UK president and CEO said the US dollar-denominated PRUlink Asian balanced Fund enables investors with moderate risk appetites to diversify their investment portfolio.

“While Pru Life UK’s selection of funds has continued to offer promising returns over the years, the PRUlink Asian balanced fund, which is designed for investors with moderate risk appetites, offers more investment opportunities for customers seeking to diversify beyond local capital markets,” De Rosas said.

Pru Life UK chief investment officer Antonio Garces II said the new fund allows investors access to both bonds and equities from Asia-Pacific economies.

“The fund is invested in three US dollar-denominated and Luxembourg-domiciled Asian SICAV funds of Eastspring Investments, namely Asia-Pacific Equity Fund, Asian Local Bond Fund, and Asian Bond Fund. This strategic allocation allows investors to gain investment access in both developed and emerging Asia-Pacific economies,” he said.

It will be managed by Eastspring Investments – the asset management arm of Prudential Plc with  $170 billion in assets under management as of end-June.

De Rosas said the PRUlink Asian Balanced Fund would be available as a fund option for holders of Pru Life UK’s investment-linked life insurance policies in US dollar denomination, including the PRUmillionaire, PRUlink investor account plus, PRUlink exact protector, PRUlink assurance account plus, and PRUlink elite protector.

“The launch of our new fund is in line with our mission since we pioneered the sale of investment-linked life insurance products in the country – we want to provide Filipinos with financial security through a comprehensive insurance coverage and an opportunity to expand their wealth at the same time,” De Rosas said.