Bangko Sentral ng Pilipinas Provident Fund, Manila, hired Eastspring Investments to manage part of the fund's allocation to Philippine equities.
Eastspring is the first foreign fund manager hired by the central bank's provident fund, according to an Eastspring news release.
Victor G. Garlitos, director of the central bank's provident fund office, couldn't immediately be reached for comment.
An Eastspring spokeswoman, in an e-mailed response to questions, declined to provide details regarding the size of the allocation or the overall size of the provident fund's portfolio.
While Eastspring manages money in the Philippines for its life insurer parent, Prudential PLC, the provident fund is the money manager's first external institutional client in the Philippines, Mark Yuen, the firm's head of institutional sales for Southeast Asia, said in the news release.
