Pru Life launches new product

MANILA, Philippines — Pru Life Insurance Corp. of UK yesterday launched a new fund, which aims to provide long-term capital growth to clients through investments in the locally listed companies.

Named PRULink Equity Index Tracker Fund, the new product seeks to replicate the performance of the Philippine Stock Exchange index (PSEi), according to Pru Life UK.

Through this fund, clients can invest in the country’s 30 largest companies by capitalization and the most actively traded stocks in the local bourse.

“We want our customers to have more choices on how to grow their money. The new fund will now be included in the selection of PRULink funds they can invest in when they purchase an insuravest plan,” Pru Life UK president and chief executive officer Antonio De Rosas said.

“We have seen growing interest in equity investing among Filipinos, particularly the younger generation. The PRULink Equity Index Tracker Fund, which invests in stocks that are representative of the whole Philippine equity market, provides investors with a good starting point.”

“More importantly, since this product primarily comes with life insurance, it will give our customers the opportunity to build a stable investment portfolio that offers potential for long-term growth,” he said.

Charles Wong, assistant vice president and head of equities of Pru Life UK Investments, said that while the world is in a crisis due to the pandemic, this would still be the best time to invest in equities.

He said the company expects the economy to recover next year, growing by an estimated six to eight percent.

“We also see the index grow by about that much, plus a bit for inflation. Generally, if the economy grows by six to eight percent, then the index would grow by about seven to nine percent or even a little bit more,” Wong said.