Latest news with #Prudentialplc
Yahoo
14-05-2025
- Business
- Yahoo
Eastspring Investments Berhad Appoints Michael Chang as Head of Investments
KUALA LUMPUR, Malaysia, May 14, 2025 /PRNewswire/ -- Eastspring Investments, the asset management business of Prudential plc, today announced the appointment of Michael Chang as the new Head of Investments for Eastspring Investments Berhad (EIMY). Michael brings over 25 years of experience in fixed income and multi-asset investing. He has led regional teams, managed local Malaysia and Singapore country mandates, and delivered award-winning, ESG-integrated investment strategies. His extensive knowledge and expertise in investment strategies, portfolio management, and market analysis will be instrumental in driving EIMY's investment initiatives and delivering value to EIMY clients. In his role, Michael will oversee all investment activities for EIMY, ensuring the alignment of investment strategies with the company's objectives and client needs. "We are thrilled to welcome Michael to our leadership team," said Yap Siok Hoon, CEO of Eastspring Investments Malaysia. "His proven track record and deep understanding of the investment landscape makes him the ideal candidate to lead our investment efforts. With his leadership, EIMY is poised to continue delivering exceptional investment solutions and performance for our clients." Michael's appointment is part of EIMY's commitment to strengthen its investment team and enhance its ability to navigate the evolving market environment. His leadership will play a crucial role in advancing the firm's strategic goals and maintaining its position as a leading asset manager for Malaysian investors. About Eastspring Investments: Eastspring Investments, part of Prudential plc, is a leading Asia-based asset manager that manages USD 256 billion (as of 31 March 2025) of assets on behalf of institutional and retail clients. Operating since 1994, Eastspring Investments has one of the widest footprints among asset management companies across Asia*. We provide investment solutions across a broad range of strategies including equities, fixed income, multi asset, quantitative and alternatives and are committed to delivering high quality investment outcomes for our clients over the long term. We incorporate ESG factors into our investment process and are aligned with a number of global sustainability initiatives including the United Nations-supported Principles for Responsible Investments (PRI) and the Asia Investor Group on Climate Change (AIGCC). We collaborate alongside industry peers to harness a collective investor voice to influence and drive change with investee companies. About Eastspring Investments Berhad Established in 2000 and based in Kuala Lumpur, Eastspring Investments Berhad ("EIMY") is part of Prudential plc, an international financial services group and has one of the widest footprints across the region. EIMY is one of the largest asset management companies in Malaysia in both institutional and retail segments, managing a total of 36 funds with approximately RM 67 billion of assets under management ("AUM") as at 31 March 2025. For more information on Eastspring Investments Berhad, please visit: *Eastspring Investments companies (excluding joint venture companies) are ultimately wholly owned/indirect subsidiaries of Prudential plc of the United Kingdom. Eastspring Investments companies (including joint venture companies) and Prudential plc are not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America or with the Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom. Important Information: This press release has not been reviewed by the Securities Commission Malaysia. It is solely for information purposes and does not constitute an offer or solicitation to anyone to invest in investment products. Whilst we have taken all reasonable care to ensure that the information contained in this document is not untrue or misleading at the time of publication, we cannot guarantee its accuracy or completeness and are not responsible for error of facts or opinion nor shall be liable for damages arising out of any person's reliance upon this information. Any opinion or estimate contained in this document is subject to change without notice. Past performance is not necessarily indicative of future performance. An investment is subject to investment risks, including the possible loss of the principal amount invested. Investors are advised to consider the risks as well as fees, charges and expenses involved before investing. Investors may also wish to seek advice from a professional adviser before making a commitment to invest. View original content to download multimedia: SOURCE Eastspring Investments Berhad Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
Eastspring Investments Berhad Appoints Michael Chang as Head of Investments
KUALA LUMPUR, Malaysia, May 14, 2025 /PRNewswire/ -- Eastspring Investments, the asset management business of Prudential plc, today announced the appointment of Michael Chang as the new Head of Investments for Eastspring Investments Berhad (EIMY). Michael brings over 25 years of experience in fixed income and multi-asset investing. He has led regional teams, managed local Malaysia and Singapore country mandates, and delivered award-winning, ESG-integrated investment strategies. His extensive knowledge and expertise in investment strategies, portfolio management, and market analysis will be instrumental in driving EIMY's investment initiatives and delivering value to EIMY clients. In his role, Michael will oversee all investment activities for EIMY, ensuring the alignment of investment strategies with the company's objectives and client needs. "We are thrilled to welcome Michael to our leadership team," said Yap Siok Hoon, CEO of Eastspring Investments Malaysia. "His proven track record and deep understanding of the investment landscape makes him the ideal candidate to lead our investment efforts. With his leadership, EIMY is poised to continue delivering exceptional investment solutions and performance for our clients." Michael's appointment is part of EIMY's commitment to strengthen its investment team and enhance its ability to navigate the evolving market environment. His leadership will play a crucial role in advancing the firm's strategic goals and maintaining its position as a leading asset manager for Malaysian investors. About Eastspring Investments: Eastspring Investments, part of Prudential plc, is a leading Asia-based asset manager that manages USD 256 billion (as of 31 March 2025) of assets on behalf of institutional and retail clients. Operating since 1994, Eastspring Investments has one of the widest footprints among asset management companies across Asia*. We provide investment solutions across a broad range of strategies including equities, fixed income, multi asset, quantitative and alternatives and are committed to delivering high quality investment outcomes for our clients over the long term. We incorporate ESG factors into our investment process and are aligned with a number of global sustainability initiatives including the United Nations-supported Principles for Responsible Investments (PRI) and the Asia Investor Group on Climate Change (AIGCC). We collaborate alongside industry peers to harness a collective investor voice to influence and drive change with investee companies. About Eastspring Investments Berhad Established in 2000 and based in Kuala Lumpur, Eastspring Investments Berhad ("EIMY") is part of Prudential plc, an international financial services group and has one of the widest footprints across the region. EIMY is one of the largest asset management companies in Malaysia in both institutional and retail segments, managing a total of 36 funds with approximately RM 67 billion of assets under management ("AUM") as at 31 March 2025. For more information on Eastspring Investments Berhad, please visit: *Eastspring Investments companies (excluding joint venture companies) are ultimately wholly owned/indirect subsidiaries of Prudential plc of the United Kingdom. Eastspring Investments companies (including joint venture companies) and Prudential plc are not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America or with the Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom. Important Information: This press release has not been reviewed by the Securities Commission Malaysia. It is solely for information purposes and does not constitute an offer or solicitation to anyone to invest in investment products. Whilst we have taken all reasonable care to ensure that the information contained in this document is not untrue or misleading at the time of publication, we cannot guarantee its accuracy or completeness and are not responsible for error of facts or opinion nor shall be liable for damages arising out of any person's reliance upon this information. Any opinion or estimate contained in this document is subject to change without notice. Past performance is not necessarily indicative of future performance. An investment is subject to investment risks, including the possible loss of the principal amount invested. Investors are advised to consider the risks as well as fees, charges and expenses involved before investing. Investors may also wish to seek advice from a professional adviser before making a commitment to invest. View original content to download multimedia: SOURCE Eastspring Investments Berhad
Yahoo
27-04-2025
- Business
- Yahoo
Is Prudential plc (PUK) the Best Undervalued UK Stock to Buy Right Now?
We recently published a list of the . In this article, we are going to take a look at where Prudential plc (NYSE:PUK) stands against other best undervalued UK stocks to buy right now. The global markets entered 2025 in the hope that the bullish run of the fourth quarter will continue in the first quarter of 2025. However, the uncertainty due to the tariffs led to the reversal of all gains made in the fourth quarter leading to a loss of 4.5%. However, on the positive side, the UK and the European market saw some excellent returns during the first quarter of 2025. Rory McPherson, the Chief Market Strategist of Wren Sterling, noted that the first quarter of 2025 was the best quarterly return quarter for the UK market since 2022. For the European market, it was their best quarterly return in over a year. The performance of the UK and the European markets was based on several factors. Firstly, for Europe, the approval of a 500 billion Euro infrastructure fund and the lifting of restrictions on defense spending in Germany helped take the overall European market higher. This was also backed by the continued stimulus from the Chinese government to help fire up the engines of China and Germany. On the other hand, the UK market mainly benefitted from the better-than-expected corporate earnings, particularly from the banking sector. The UK's banking sector reaped the advantage of its diversification, followed by its cheaper valuations, and increased profitability. As per Wern Sterling's report, the UK banking sector grew its earnings by 30% year-over-year during the first quarter of 2025, which was similar to the growth of the Magnificent Seven in the United States. On top of this, the sector benefited from its extremely cheap valuation as compared to the top US stocks. The report also highlighted that the UK's banking sector is using its excess cash to buy back stocks and increase dividends which makes it even more lucrative for shareholders. On April 24, Andrew Bailey, Bank of England governor, joined CNBC to talk about the impact of tariffs on the UK's economy. He segregates the impact of tariffs into two portions, which are the impact on growth and the impact on inflation. He said that unfortunately, if we talk about the impact on growth, tariffs will have an impact in the longer run due to the closed nature of the global economy. Bailey elaborated that if we reduce the trade and openness of the global economy it directly impacts the growth trajectory of the economy. On top of this, there is the uncertainty effect which has led CEOs and consumers alike to postpone investment decisions. He noted that the UK already has a high saving rate, which shows that the people are simply uncertain about the economic and policy conditions that are restricting them from making investment decisions. In terms of the inflationary impact, Bailey remains confident that the tariffs are not having an inflationary impact. He explains that inflation factors in a lot of other indicators, for instance, if trade with the United States is restricted the economy can redirect its exports to other markets. On the other hand, retaliation from the UK government could also lead to a deflationary impact. To conclude, Bailey is more concerned about the impact of tariffs on growth as compared to inflation. He noted that the UK administration not only needs to address the supply and demand side issues related to growth but also has to tackle the trade issues with effective policies. To curate the list of the 11 best undervalued UK stocks to buy right now, we used the Finviz stock screener, Seeking Alpha, and Yahoo Finance as our sources. Using the screener we aggregated a list of UK stocks that are trading below the Fwd P/E of 15. Next, we cross-checked the Fwd P/E of each stock from Seeking Alpha and earnings growth from Yahoo Finance. Finally, we ranked these stocks in ascending order of the number of hedge funds that hold stakes in them, as of Q4 2024. Please note that the forward P/E data was collected on April 23, 2025. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). Close up of a handshake between two individuals, showing the trust and reliability of life insurance. Prudential plc (NYSE:PUK) is a multinational health insurance and asset management company based in the United Kingdom. The company has operations in 24 countries across Africa and Asia. It uses a multi-channel distribution network that includes 63,000 active agents and over 200 bank partners to operate around the globe. Moreover, Prudential plc (NYSE:PUK) has also invested in digital platforms such as PRUServices and PRUForce that allow it to leverage artificial intelligence and data analytics to enhance customer experience. On March 20, the company announced its joint venture with HCL group in India to address the growing need for health insurance in the country. Subject to approval, the company will hold a 70% stake in the joint venture while the HCL group will hold a 30% stake. Moreover, during fiscal 2024, Prudential plc (NYSE:PUK) reported growing its new business profit by 11% year-over-year, which was in line with its guidance of $3.1 billion. Management believes that 2025 will be the inflection point for growth in its free surplus, which came in at $2.6 billion during the year and was in line with expectations. Lastly, on April 23, Barclays analyst Larissa Van Deventer maintained a Buy rating on the stock with a price target of £11.3. Prudential plc (NYSE:PUK) is one of the best undervalued UK stocks to buy right now. Overall, PUK ranks 11th on our list of best undervalued UK stocks to buy right now. While we acknowledge the potential of PUK to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than PUK but that trades at less than 5 times its earnings, check out our report about this . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
15-04-2025
- Business
- Yahoo
Prudential plc (PUK): Among the Best Performing Stocks in Europe
We recently published a list of . In this article, we are going to take a look at where Prudential plc (NYSE:PUK) stands against other best performing European stocks to invest in. The world economy is hanging by a thread, as the macroeconomic environment consists of trade wars, retaliatory tariffs, and political unrest in Ukraine and the Middle East. It adds to economic uncertainty, with market experts offering cautious economic forecasts. According to EY, the euro area will experience a modest economic turnaround in 2025, and growth is expected to increase from 0.7% last year to 1.3% and 1.8% in 2025 and 2026, respectively. It is forecasted to simmer down to 1.4% in 2027. Among all European countries, Malta is projected to experience the highest GDP growth in 2025 at 4%. EY expects soft employment growth across Europe, driven by demographic challenges and subdued labor demand. Unemployment will likely remain at 2024 levels. While nominal wage this year will clock in higher than pre-pandemic levels, wage growth will take a hit. Central and Eastern European countries are forecasted to experience relatively higher inflation in 2025, while the overall rate remains just over 2% in the euro area. Meanwhile, German economic institutes have slashed their growth projections for 2025 to 0.1% from the previous forecast of 0.8% in September 2024. This revised estimate does not incorporate the recent tariffs levied by the US. These tariffs will be a major setback for European economies, possibly toppling them over the edge of recession for the third consecutive year. The new conservative government declared a €500 billion fund to improve infrastructure and defence and stimulate growth. The fiscal package enhances the economic outlook for 2026 and 2027. However, as the United States is feeling the pressure from high valuations and growing political instability, analysts are looking towards Europe as a better bet for stock investors. Analysts point towards Europe offering a more stable outlook, with lower stock prices, clearer policy direction, and even potential interest rate cuts on the horizon. Investors seem to be shifting their focus, partly because the threat of US tariffs on Europe, especially on automobiles, feels less uncertain now that details are clearer. There is also less exposure to tech in Europe, which is seen as a good thing right now. Europe's markets, with just 10% tech exposure in the Europe 600 compared to 30% in the broader market, look more balanced. With solid earnings, rising share buybacks, and cheaper stock valuations, investors are turning to Europe. Experts suggest that European and UK markets now have their best shot in years at outperforming the US. With that in mind, let's take a look at the best-performing stocks in Europe so far in 2025. Close up of a handshake between two individuals, showing the trust and reliability of life insurance. To compile our list of the top performing European stocks this year, used the Finviz screener, applying filters for the region and a market cap of over 10 billion to identify stable European companies. Next, we applied a performance filter and selected 11 European stocks with the highest YTD share price growth as of April 11. We have also mentioned the Q4 2024 hedge fund sentiment around the holdings for further insight. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). Number of Hedge Fund Holders: 10 YTD Share Price Performance as of April 11: 24.46% Prudential plc (NYSE:PUK) is a multinational insurance and asset management company that is headquartered in both London and Hong Kong. Some of PUK's services include general insurance, health insurance, vehicle insurance, travel insurance, home insurance, and life insurance. It is one of the best performing stocks in Europe so far in 2025. On February 13, UBS analysts maintained a Buy rating on Prudential plc (NYSE:PUK) with a price target of £12.70 after the announcement that it might publicly list its Indian asset management business, IPAMC. This could unlock significant value, with proceeds potentially going to shareholders. For full-year 2024, Prudential plc (NYSE:PUK)'s new business profit increased 11% to $3.08 billion. While growth was flat for the year due to the broader economy, PUK recorded a 10% rise in adjusted operating profit to $3.13 billion, and EPS climbed 8% to $0.897. The company concluded a $1.05 billion share repurchase plan and lifted its dividend by 13% to $0.2313 per share, bringing total shareholder returns for the year to $1.4 billion. According to Insider Monkey's fourth quarter database, 10 hedge funds reported owning stakes in Prudential plc (NYSE:PUK), compared to 12 funds in the preceding quarter. Peter Rathjens, Bruce Clarke, and John Campbell's was the biggest stakeholder of the company, with 1.05 million shares worth $16.75 million. Overall, PUK ranks 5th among the 11 Top Performing European Stocks So Far In 2025. While we acknowledge the potential of European stocks, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than PUK but that trades at less than 5 times its earnings, check out our report about this . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
20-03-2025
- Business
- Yahoo
Citi Appointed as Successor Depositary Bank for Prudential plc's ADR Program
LONDON, March 20, 2025--(BUSINESS WIRE)--Citi Issuer Services, acting through Citibank N.A., has been appointed by Prudential plc ("Prudential") to act as successor depositary bank for its sponsored Level 2 American Depositary Receipt ("ADR") program. Prudential's ADRs are listed and traded on the New York Stock Exchange under the symbol "PUK". Each ADR represents two ordinary shares of the company. Prudential's underlying ordinary shares are listed and traded on the London Stock Exchange under the symbol "PRU LN". Its underlying ordinary shares are also listed and traded on the Hong Kong Stock Exchange under the symbol "2378". Commenting on the appointment, Dirk Jones, Head of Issuer Services at Citi said: "With Citi's global presence and investor relations expertise, our platform will help facilitate the continued success of Prudential's sponsored Level 2 ADR program. Through our Issuer Services business, we provide issuers with the highest quality ADR services while facilitating global access to opportunities for investors." Citi Issuer Services is a leading provider of depositary receipt services. With depositary receipt programs in over 65 markets, spanning equity and fixed-income products, Issuer Services leverages Citi's global network to provide cross-border capital market access to issuers, intermediaries, and investors. For more information on Citi's depositary receipt services, visit About Citi Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services. Additional information may be found at | X: @Citi | LinkedIn: | YouTube: | Facebook: About Prudential plc Prudential plc provides life and health insurance and asset management in 24 markets across Asia and Africa. Prudential's mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions. The business has dual primary listings on the Stock Exchange of Hong Kong (2378) and the London Stock Exchange (PRU). It also has a secondary listing on the Singapore Stock Exchange (K6S) and a listing on the New York Stock Exchange (PUK) in the form of American Depositary Receipts. It is a constituent of the Hang Seng Composite Index and is also included for trading in the Shenzhen-Hong Kong Stock Connect programme and the Shanghai-Hong Kong Stock Connect programme. Prudential is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America, nor with The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom. View source version on Contacts Citi Media Contact: Harsha Jethnani +65 93830872 Prudential Investor Contact: Patrick Bowes +44 (0)20 3977 9720 Sign in to access your portfolio
