UPDATED: Fullerton inks strategic partnership with NTUC Income
Fullerton Fund Management will manage the insurer’s public-asset portfolio as part of the all-Singaporean deal, say sources familiar with the matter.
Fullerton Fund Management and insurer NTUC Income are merging* in a deal that is set to strengthen the investment operations of both Singaporean firms, people familiar with the matter told AsianInvestor. [See below for an update on this story.]
As a result, they noted, Fullerton will take over the running of NTUC Income’s public-market portfolio, which is estimated to account for about 80% of the insurer’s S$29.4 billion ($20.1 billion) under management.
Both parties should ben…
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