Returns on AIA Elite Funds among the industry's top quartile with significant AUM growth achieved within 3 years
SINGAPORE, 4 OCTOBER 2022 – AIA Singapore marked the third anniversary of AIA Elite Funds by delivering strong performance for customers, including making it in the top quartile1 among its peer group of funds by achieving one of the highest annualised net returns and significant asset under management (AUM) growth in Singapore. As of end August 2022, the AIA Elite Adventurous Fund being the largest fund within the AIA Elite portfolio, achieved annualised returns of 7.37%, based on a three-year period. Total AUM of AIA Elite Funds is over S$900 million, representing average annual growth rate of more than 400% over the last three years. The AIA Elite Adventurous Fund accounts for approximately 70% of total AUM reflecting quality investment management.
Till today, the innovative AIA Elite Funds remains Singapore's only ILP funds offering customers access to a unique proposition managed by the professional stewardship of the world's finest institutional investors; Baillie Gifford, Capital Group, Wellington Management, and BlackRock - powered by AIA's investment management capabilities.
Liu Chun Yen, Chief Investment Officer, AIA Singapore and member of the Sustainability in Insurance Committee (SIC) in Singapore says, "Aligning with AIA's Elite strategy, we launched the AIA Elite Funds in 2019 to address the crucial gap for the affluent to meet both their wealth creation goals and protection needs, based on their respective investment time horizon. The success of our strategy led to the launch of multiple innovative Investment Linked Plans (ILPs) in 2022 alone. This includes AIA Elite Secure Income, the first-in-market affordable, capital guaranteed ILP, and AIA Platinum Wealth Legacy, the first-in-market ILP with no lapse privilege benefit till up to age 100. Both products provide customers access to AIA Elite Funds."
"Today's concerns about rising inflation and cost of living also underscore the importance of protecting and growing wealth wisely. At AIA Singapore, we are well-placed to continue providing customers a sustainable way of achieving this through our AIA Elite Funds, helping them with wealth accumulation, management and protection while mitigating unfavourable economic headwinds."
Through strong collaboration with strategic partners and leveraging AIA Singapore's proven expertise and capabilities, the company is also co-developing and carefully curating more customised solutions which are aligned with sustainable themes for the long-term within the AIA Elite Funds. The multi-layer value creation chain is focused on driving long-term investments while remaining nimble to make opportunistic investments which provide value and quality.
The AIA Elite Funds were launched in 2019 through the AIA Platinum Wealth Elite plan to address a critical gap for the affluent; a single plan to meet both their wealth creation goals and protection needs based on their respective investment time horizon. There are 3 different portfolios in USD and SGD respectively – AIA Elite Conservative, AIA Elite Balanced, and AIA Elite Adventurous – offered under various plans including the AIA Platinum Wealth Elite, AIA Platinum Retirement Elite, AIA Platinum Wealth Legacy, AIA Elite Secure Income and AIA Pro Achiever, catering to the diverse needs and risk profiles of AIA customers.
AIA Singapore reaffirmed its focus on wealth protection and management earlier this year by launching a new proposition Wealthbeing by AIA – the pairing of wealth and well-being – as the company continues to accelerate efforts to meet the underserved needs of High Net Worth Individuals (HNWIs) to grow their wealth for the long-term while protecting their lifestyles from market volatility as well as unexpected life events. It is forecasted that by 2030, the number of millionaires in Singapore as a share of its population will exceed that of the United States, China or any other economy in the Asia Pacific region2.
To this end, AIA Investments, manages over US$330 billion of assets3 and has one of the largest teams in the Asia-Pacific region, with over 250 investment professionals, focused on delivering superior long-term sustainable returns for its clients.
For more information on the AIA Elite Funds, please visit: https://www.aia.com.sg/en/help-support/funds-information/aia-elite-funds.html
1Information is based on Morningstar USD Aggressive Allocation peer comparison category, as of 31 August 2022
3As of 30 June 2021
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AIA Group Limited and its subsidiaries (collectively "AIA" or the "Group") comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR(1), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR(2), and a 49 per cent joint venture in India.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$330 billion as of 30 June 2021.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 39 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code "1299" with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: "AAGIY").