LONDON (HedgeWorld.com)–Prudential Asset Management in Asia signed an exclusive sales and marketing agreement with International Asset Management to offer funds of funds to its Asian customers.
IAM will be able to continue to focus on its fund of funds management, while using Prudential to gain a network in Asia to market its hedge fund offerings there, according to an announcement from IAM.
IAM has US$1.4 billion in assets under management. The firm opened its New York office to expand its research capabilities last October .
The operating territories for the firm’s funds of funds in Asia will include: China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore, Taiwan, Thailand and Vietnam.
According to a statement from Ajay Srinivasan, managing director of fund management for Prudential in Asia, officials there have seen alternative investments becoming “increasingly significant” to customers.