PRU LIFE UK will be offering a new equity fund that gives investors access to global markets without needing to convert their peso holdings into foreign currency. 

Called the PruLink Global Equity Navigator Fund, the product has allocations for equity markets in at least 10 major economies including the US, Japan, South Korea, United Kingdom, Canada, Brazil, France, Switzerland, Germany, and Australia, among others, Pru Life UK Vice-President for Investment Marketing Mark Anthony A. Valino said in an online briefing. 

The fund will be available in the country starting Nov. 8. It is managed by Singapore-headquartered Eastspring Investments. 

Existing and new Pru Life UK policyholders may avail of the product. It can be attached to their investment-linked life insurance policies. 

The fund is suitable for young starters positioning for long-term investments, high-income earners looking to diversify their portfolio, as well as investors already familiar with the international financial markets, Mr. Valino said. 

As it is a dollar-denominated feeder fund, investors should be aware of the risk that comes with currency volatility, he added. 

“Make sure that you are able to accept and appreciate all of these risks that come also with the growth opportunities,” Mr. Valino said. 

This month, the insurer welcomed Eng Teng Wong as its new president and chief executive officer, succeeding Antonio G. De Rosas following the latter’s retirement. Mr. Wong was previously the chief revenue officer and chief officer for ecosystem implementation at Prudential Services Asia. 

Mr. Wong said he is optimistic about the untapped opportunity in the Philippines given its 111-million population, saying this is much bigger compared to the 32-33 million in Malaysia where he came from. 

“We [in the Philippines] have one of the largest agent force in the country, not just the largest but also youngest and also growing fast,” he said. 

He added that he hopes to address the challenge of financial literacy in the country. 

Pru Life UK booked the second-highest net premium in the life insurance sector worth P30.98 billion last year, based on data from the Insurance Commission. 

The insurer’s net income of P3.27 billion was the fourth biggest in the industry in 2020, while it ranked fifth in terms of its assets with P117 billion. — L.W.T. Noble 

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