Singapore Post Limited and Prudential Asset Management (Singapore) Limited launch Asian property securities fund
Singapore Post Limited (“SingPost”) and Prudential Asset Management (Singapore) Limited (“PAM Singapore”) today announced that they have launched a new fund, International Opportunities Funds (“IOF”) – Asian Property Securities. The fund aims to make 1 pct payout every quarter1,2 for Class Fd Shares. The offer period starts today, 28 March 2008.
The fund is exclusive to SingPost customers and is available at selected post offices.
This initiative is the result of the growing partnership between SingPost which took root in November 2006. With the latest addition, the range of investment products under SingPost’s “Care for Life” portfolio has grown even more comprehensive.
IOF – Asian Property Securities invests primarily in listed closed-ended Real Estate
Investment Trusts (REITs) and property related securities of companies, which are incorporated, listed in or have their areas of primary activities in Asia Pacific, which includes Japan, Australia and New Zealand. The fund may also invest in depository receipts [including American Depository Receipts (ADRs) and Global Depositary Receipts (GDRs)], debt securities convertible into common shares, preference shares
and warrants.
Mr Jene Lua, General Manager of PAM Singapore, said: “Asia’s concrete long-term
growth, large population, growing middle-class and sound fundamentals fuel Asia’s
demand for commercial and residential properties. REITs provide a good shelter for
volatile markets, given their attractive and steady income yields. It has relatively low
correlations with other asset classes and is one of the effective inflation hedge
products. It provides regular income stream and capital preservation for investors.
This fund enables investors to maintain a well diversified portfolio.”
“The synergy between both companies can create value to customers. This
partnership allows SingPost customers direct access into Prudential’s range of funds.
The investment products that we offer via the branches are funds with established
track records, spread across a spectrum of asset classes. These include the PRU
Dragon Peacock Fund, PRU Global Basics Fund, PRU Global Balanced Fund, PRU
Asian Balanced Fund, PRU Income X and PRU Monthly Income Plan,” he continued.
IOF – Asian Property Securities is an open-ended fund and is suitable for investors
looking for possible source of income and capital appreciation in long term.
