Asia-focused Eastspring Investments has raised $417 million for its new fixed maturity product (FMP), thanks to strong investor demand.
The FMP, which was developed for its current range of products, was distributed in the private banking sector though an exclusive partnership with Standard Chartered Private Bank.
It attracted interest from investors in Singapore, Hong Kong, UK and the Middle East, Eastspring said, adding that the offer period for the FMP has now closed.
‘Heightened market volatility drives demand for steady income and certainty in investment outcome. FMPs continue to be in strong demand by investors,’ a spokesperson for the company said.
The success of this FMP comes less than four months after Eastspring raised over $353 million for its emerging market bond fund in Taiwan. The target maturity three to six year emerging market bond fund provides investors with a after-fee yield of around 5-6%.