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The Fund invests in a diversified portfolio of assets of US high yield bonds and Asian dollar bonds and flexibility in Asia Pacific equities (including REITs). The overall fund manager has a good track record in managing asset allocation funds where allocation to the underlying investments is actively adjusted to reflect the prevailing market and economic conditions. .
Key Benefits
Invest in a diversified portfolio of assets in US high yield, Asian dollar bonds and Asian dividend yielding equities (including REITs)
Benefit from the expertise and experience of the overall fund manager in top down asset allocation and asset class specialists in bottom up bond and stock selection.
Favourable risk- return trade off for a portfolio that is less risky than equities but potentially offer better returns than government bonds.
Enjoy attractive and consistent payout1 (monthly or annual basis) since 2005
An attractive dividend investing opportunity in Asia. Driven by the region's economic dynamism and increasing corporate sophistication, the Fund benefits from both the higher dividend yields and growth rates across Asia Pacific ex Japan.
Key Benefits
Consistently delivering attractive yield over the Asia Pacific ex Japan benchmark and global averages.
Enhanced dividend distribution policy of 4% to 5% p.a.2 and increased payout frequency3.
Gain from holding undervalued stocks in the Asia Pacific ex Japan region.
Benefit from bias towards cyclical stocks with potential for capital gains in a recovering and rising market.
As developed markets continue on a recovery course in 2014, the US is expected to lead the pack with Europe and Japan following suit. We also have our radar on developed markets in the Asia Pacific – Australia, New Zealand, Singapore and Hong Kong as we see value in these markets.
Key Benefits
Economies in developed markets have moved on since bottoming out in 2008. Benefit from the recovery of developed markets.
Access to four of the largest developed equity markets – the US, Europe, Japan and Developed Asia (such as Singapore, Hong Kong and Australia), representing 90% of the MSCI All Country World Index.
Ride on the expertise and experience of the overall fund manager in top down regional/country allocation and the underlying fund managers in bottom up stock selection.
A consistent value strategy, for both top down asset allocation and bottom up stock selection, which focuses on stocks that are undervalued relative to their fundamentals.
Japan is restructuring and exhibiting strong corporate earnings, and the policy environment in Japan is changing towards growth. Yet Japan equities are trading at attractive valuations, as companies' strong financial health has yet to be recognized by the market.
Key Benefits
Focus on high impact valuation outliers - stocks that offer significant upside potential.
Markets have yet to fully recognize the attractive valuations of many Japanese companies and the Fund is poised to take advantage of these opportunities.
High conviction portfolio of 30 to 50 stocks, managed by a highly focused and experienced team with a stellar track record of over nine years.
Available in both SGD and USD hedged share classes to reduce currency risk.
The US market outlook is looking positive, underpinned by resilient macroeconomic conditions and supportive corporate fundamentals. This is on the back of favourable demand trends and the relatively stable investing landscape offered by the US.
Key Benefits
Steady economic growth and strong stock market are well supported by falling unemployment rate4 and a recovery in the housing market5.
Corporate earnings of US companies are healthy, and a slowly improving economy should help support the broader gains.
Deep value approach to uncover undervalued stocks in the US market.
High conviction portfolio built around the most researched and best understood ideas.
Managed by a highly experienced US team specializing in value investing.
Domestic consumption continues to grow and rising urban income is a key driver of growth. By 2022, the expected number of urban middle class households in China will rise to 272 million families from 174 million families6. The rise of the middle-class households over the next decade will be an impetus for consumption growth.
Key Benefits
China is attractively priced relative to its historical averages and versus the rest of the world.
Significant exposure to Chinese cyclical stocks that is well positioned to capture the upside of China's long term economic growth story.
The Fund has one of the lowest PE (Price to Earnings) and PB (Price to Book)7 characteristics compared to its peers as it invests in stocks that are trading below their valuation.
An award winning Fund with consistent long term performance track record and rated 4 stars by Morningstar8.
Important Notes:
1.Distribution of potential payouts shall, subject to determination by the Investment Manager of the Fund, be made out of either (a) income; or (b) net capital gains; or (c) capital of the Fund or a combination of (a) and/or (b) and/or (c). The distribution amount may be reviewed in the future depending on prevailing market conditions, dividend payout of the underlying stocks and dividend policy of the Fund. Distributions of potential payouts are at the discretion of the Investment Manager of the Fund (as the case may be) and there is no guarantee that any distribution will be made. The frequency and/or amount of the distributions made may be varied. When distributions are declared and paid out with respect to the Fund, the net assets attributable to the Shares will stand reduced by an amount equivalent to the product of the number of Shares outstanding and distribution amount declared per Share.
2.The distribution policy of SGD (Class Asdq) and USD (Class Adq) share classes targets to pay between 4 -5% of NAV p.a. For the upcoming distribution, the distribution rates will be as: SGD distribution share classes and USD distribution share classes target to pay at 5% of NAV p.a. AUD distribution share classes to pay at 6.5% of NAV p.a. Distribution payout shall, at the sole discretion of the Management Company of Eastspring Investments, be made out of either (a)income; or (b)net capital gains of the Fund; or (c)capital of the Fund or a combination of (a)and/or (b)and/or (c). There is no guarantee that any distribution will be made or that the frequency and amount of distributions as set out in the prospectus will be met. When distributions are declared and paid out (including out of capital) with respect to the Fund, the net assets attributable to the relevant class of Units will stand reduced by an amount equivalent to the product of the number of Units outstanding and distribution amount declared per Unit.
3.Distribution frequency will be revised from quarterly to monthly starting from January 2015, subject to regulatory approval.
4.Datastream as of 15 March 2014, the most recent data available as of 9 April 2014. Data is available on the 15th of each month. As indicated by the US Seasonally Adjusted Unemployment Rate.
5.Datastream as of 15 January 2014, the most recent data available as of 9 April 2014. US S&P / Case-Shiller Home Price Index 20-City Composite.
6.McKinsey Quarterly 2013.
7.Based on Morningstar data as at 31 December 2013, China Funds.
8.Morningstar rating (c) 2012 Morningstar. All Rights Reserved. Morningstar Rating TM as of 31 March 2014 for Class A only. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
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Eastspring Investments (Singapore) Limited ("Eastspring Investments ") is an ultimately wholly owned subsidiary of Prudential plc of the United Kingdom ("Ultimate Parent Company"). Eastspring Investments and its Ultimate Parent Company are not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.