The Central Bank of the Philippines (Bangko Sentral ng Pilipinas or BSP) tapped Eastspring Investments to manage its provident fund equity fund. A subsidiary of Prudential Plc, Eastspring Investments is one of the biggest asset managers in Asia. It is also the first foreign fund manager to handle the equity portfolio of the BSP. The BSP Provident Fund was set up to provide retirement funding for the central bank's employees.
BSP Deputy Governor Vicente Aquino said, "Apart from excellent investment performance, we are very pleased to have chosen a renowned fund manager that we could entrust in." In the 2013 Asset Triple A Investor and Fund Management Awards, Eastspring Investment was awarded the Best Asset Management Company of the Year for Southeast Asia.
Chief Financial Officer of Eastspring Investments Ted Pull said that the decision of the BSP was a reflection of "their trust in our experience in investing in Asia as well as our valuation, research-driven investment philosophy." BSP and Eastspring Investments signed the agreement in the latter's Asia Office in Singapore.
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