Pru launches asset management business in Asia
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Prudential has a launched an asset management business in Asia.
The business, Prudential Al-Wara’ Asset Management Berhad, will be based in Malaysia and will be responsible for managing Shariah compliant assets on behalf of institutional investors, as well as onshore and offshore institutional mandates.
It will target the Shariah institutional asset management market, and work alongside Pru’s existing Asia business, which includes nine Islamic mutual funds.
Prudential group chief executive Tidjane Thiam says: “Prudential is one of Asia’s leading financial services institutions and this next stage of development for our asset management business is particularly significant as it enables us to leverage our strengths to support the development of an important and yet previously underserved sector of the economy.”
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