Prudential, the global asset manager, is renaming its asset management operations in Asia as part of a rebranding effort to emphasise the unit as a core business within Prudential Corporation Asia.

The new name, Eastspring Investments Limited, replaces the name Prudential Asset Management Limited. PAML was established in the Dubai International Financial Centre in 2006. Effective on the first quarter of 2012, and subject to regulatory approval, all of the firm's operations in the UAE, Hong Kong, Singapore, Malaysia, Japan, Korea and Vietnam shall carry the new name. The new branding will not apply to joint venture operations in China and India, or in Hong Kong through BOCI-Prudential.

Prudential Corporation Asia's fund management business records around $800 billion under management as of 30 September 2011 and employs about 2,000 staff across 10 markets in the region. The funds business is the largest multi-national onshore mutual fund manager in Asia, the company said in a statement.

"Eastspring Investments will proudly remain part of Prudential Corporation Asia but it will now have an independent identity, distinct from our insurance brand in the region. It will allow us to penetrate Asian and European markets more efficiently and grow our branded offshore product range worldwide and to enter new markets like North America," said Barry Stowe, chief executive of Prudential Asia. 

The change is limited to a new brand only and will have no impact on the business' operations, investment strategy or leadership.