SOUTH KOREA - Prudential Investment & Securities Co. Ltd (PISC) is to launch a utilities fund for institutional and private investors in the South Korean market, sub-advised by ANB AMRO.
Available from today, the Prudential Power Utilities Equity Fund (PPUEF) will invest in the global utilities sector.
The fund, the first of its kind to be introduced in Korea based on Korean Fund Ratings, aims to offer investors relatively high dividend yields of 3% to 4% and low risk coupled with strong mid to long tem growth throughout the utilities sector.
This growth will be due to the projected global rise in demand for electricity in the future, predicted to double between now and 2030, coupled with the increasingly high price of oil and gas and the resultant effect this is likely to have on the price of electricity.
The fund has also expressed an interest in the investment potential of green and renewable energy sources, seen as an attractive growth area in the future although it did not state whether this investment would be through equities or venture capital.
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