The Philippine insurer has also raised its cash holdings amid fears of a lingering impact from Covid on the local economy and stock market, says chief investment officer Arleen Guevara.
Prudential is launching its own asset management unit in the Philippines, initially selling funds managed by Eastspring Investments.
The state-run Social Security System's CEO believes there is too much political interference in the Philippines pension fund industry, which is adversely affecting its funding and viability.
With family offices and other local investors getting more involved in impact investing, capital deployment should continue accelerating. But structural problems persist across the region
Legislative bottlenecks are delaying the establishment of the development fund. Outstanding issues include the amount to be invested and whether it will use an offshore asset manager.
The scandal at Malaysia's 1MDB did not help the reputation of sovereign wealth funds. With two further Asian SWFs in the works, the political risks that it highlighted are set to resurface.