Prudential to launch fund-management plan
Prudential Assurance plans to launch a fund-management business despite poor sentiment in the investment market, according to Prudential China chief executive Dominic Leung.
He said the insurer was keen to develop personal-finance services away from its core insurance business.
'Although the local investment market is experiencing poor sentiment at the moment, we believe in the long run there will be considerable demand for financial products such as unit trusts and mutual funds,' Mr Leung said.
He said the firm had 943 agents and would like to expand the team to 1,500 by the end of next year.
'Since the high rise in unemployment it is much easier to recruit more agents,' he said.
The insurer is also preparing to launch a Mandatory Provident Fund (MPF) business.
Mr Leung said the firm aimed to sell four investment products with the launch of the MPF.
The firm would also like to work with other banks and insurers to sell MPF plans.
