Fullerton merging 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.
The all-Singaporean deal was mooted at least 18 months ago, say sources
The all-Singaporean deal was mooted at least 18 months ago, say sources
August 31, 2017

Fullerton Fund Management and insurance firm 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 FinanceAsia's sister publication, AsianInvestor. 

As a result, they noted, Fullerton will take over the management 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 benefit from what is believed to be a government-directed move, industry sources said NTUC Income will gain more investment capabilities and a new growth engine in the form of...

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