30 Jul 2026

Eastspring Investments Launches New Singapore Income and Growth Equity Fund and Publishes Whitepaper with Singapore Exchange

The Eastspring Investments Unit Trusts - Singapore Income and Growth Equity Fund* focuses on income and growth, while whitepaper explores the opportunity in Singapore equities * For Singapore Investors only.

SINGAPORE (30 July 2026) – Eastspring Investments (“Eastspring”), the USD269 billion¹ Asia-headquartered asset management business of Prudential plc, today announced the launch of the Eastspring Investments Unit Trusts - Singapore Income and Growth (SING) Equity Fund (“Fund”), alongside a co-branded whitepaper with Singapore Exchange (SGX) that explores the resilience and evolving opportunity set for Singapore equities.

The Fund is launched as part of the Monetary Authority of Singapore’s (MAS) Equity Market Development Programme (EQDP). This Singapore All Cap strategy is relatively unique in its dual-focus on both income and growth opportunities, targeting a combination of large cap and small- and mid-cap Singapore stocks (SMID), with a minimal allocation of 35% to the latter² .

Eastspring has been operating in Asia for over 30 years, and has an established and strong track record of managing Singapore equities. The firm has been managing one of the largest Singapore equities portfolios with inception in 1999³ . The new Fund will be co-managed by Singapore-based portfolio managers Bryan Yeong and Daniel Lau, who collectively bring over 40 years of investment experience.

“We have deep roots in Singapore and Eastspring has been investing in the Singapore growth story for almost three decades. We are excited to finally introduce this strategy to investors keen on tapping further into Singapore’s potential. This new launch is meaningful, to be able to support the growth of the local ecosystem, as we continue to expand our offerings to meet the evolving needs of our clients,” said Rajeev Mittal, Chief Executive Officer, Eastspring Investments.

Vis Nayar, Chief Investment Officer, Eastspring Investments, added, “Although investors don’t typically view Singapore equities as a growth opportunity, and many asset allocators approach the sector primarily as a dividend play, the market has delivered compelling gains in recent years. Notably, The Straits Times Index gained 27% over the past year and 56% over three years⁴ - outperforming many larger equity markets. We therefore believe investors do not have to choose between income and growth: by combining Singapore’s strong income foundations with active research to uncover high-quality small- and mid-cap companies, we aim to capture both.”

Launch of whitepaper

As part of its commitment to deepening research coverage of Singapore equities, Eastspring in collaboration with the SGX has published a whitepaper, “Singapore equities: From resilience to opportunity”.

The whitepaper explores how Singapore's equity market is entering a new phase, evolving from a market recognised primarily for resilient income into one offering broader growth opportunities and diversification benefits for long-term investors. It examines the structural drivers underpinning this shift and highlights three key findings:

• Stress-tested, resilient market: Singapore equities have delivered a better-than-average risk-return trade-off than many Asian peers over the last 10 years. Long-term investors experienced shallower peak-to-trough drawdowns and faster recoveries in four of six major market stress events, including the Global Financial Crisis (2008), the Eurozone sovereign debt crisis (2010), the first-ever downgrade of the US sovereign credit (2011), and the inflation shock and Fed rate hiking cycle (2022).


• Core income anchor with growth optionality: Singapore remains under-owned and misunderstood by global investors; with only a 3% weight in MSCI AC Asia ex Japan, allocations remain limited and many continue to view Singapore primarily as a pure “dividend play” despite increasingly broad-based return drivers. As the market evolves, the investable universe is becoming increasingly diversified beyond its traditional strengths, with opportunities expanding across structural growth sectors such as digital infrastructure, advanced manufacturing, the green economy, healthcare and consumer technology. Together with established sectors such as banks and REITs that continue to provide a resilient income base, this broadening opportunity set reinforces Singapore's role as both a core income anchor and a source of long-term growth.


• Low correlation to North-Asian, tech trade - a real diversifier: Singapore equities exhibit relatively low correlation with North Asian and technology-driven markets, offering meaningful diversification benefits within global portfolios. Eastspring’s analysis shows that a portfolio comprising approximately 50% US equities and 50% Singapore equities delivers the strongest risk-adjusted returns. As initiatives under the EQDP broaden the investor base, deepen research coverage of SMID companies, and advance initiatives like the SGX-Nasdaq dual listing bridge, Singapore's visibility among global allocators is expected to rise over the next two to three years.

Together, the launch of the new SING Fund and the publication of the whitepaper underscore Eastspring's conviction in the long-term potential of Singapore equities. Through active management and deep local research, the Fund is designed to help investors capture both resilient income and long-term growth opportunities across Singapore's evolving equity market, while contributing to the continued development of the country's capital markets.

For more information about the SING Fund, please visit the Fund page.

To download the full whitepaper, please visit “Singapore equities: From resilience to opportunity”.

Get in touch

For media information, email us at media@eastspring.com