FiinRatings Announces Second Party Opinion Report for the PRUlink Vietnam Sustainable Development Fund

Hanoi, December 29, 2025, FiinRatings – a strategic partner of S&P Global – announces the publication of its Second Party Opinion (SPO) on the PRUlink Vietnam Sustainable Development Fund, referred to as the PRUlink Fund or the Fund. The Fund was established byPrudential Vietnam Life Insurance Company Limited(Prudential Vietnam), and is managed by Eastspring Investments Fund Management Limited Liability Company(Eastspring Vietnam). The SPO assesses the alignment of the Fund’s Impact Investment Framework with the Sustainable Development Investments Asset Owner Platform Taxonomy, SDI AOP Taxonomy, as well as its adherence to the Impact Investing Market Map methodology issued by the United Nations supported Principles for Responsible Investment, UN PRI.

The PRUlink Vietnam Sustainable Development Fund is designed to generate positive environmental and social impact through capital allocation to companies that make measurable contributions to the United Nations Sustainable Development Goals (SDGs), while remaining consistent with Vietnam’s sustainable development priorities and policy directions. The Fund’s investment strategy focuses on three core themes, namely Progress, Health, and Climate, and is implemented through a diversified domestic portfolio.

According to the SPO, FiinRatings notes that the Fund’s Impact Investment Framework has been developed based on a systematic and disciplined approach, applying the SDI AOP Taxonomy to determine the extent of investee companies’ contributions to the SDGs. Notably, the Fund applies a minimum threshold of 25 percent of SDI aligned revenue for portfolio companies, which exceeds commonly applied reference levels, in order to ensure that sustainability impact is embedded in core business activities. At the same time, non aligned business activities are permitted within a limit of no more than 10 percent of total revenue, in line with SDI guidance.

The assessment further indicates that the Fund has established a multi layered ESG governance and monitoring framework, including the role of the ESG Committee at Eastspring Vietnam in policy approval, periodic review, and compliance oversight. This is complemented by regularly updated ESG risk and controversy monitoring systems, together with company engagement and stewardship activities, to manage sustainability risks throughout the investment lifecycle.

With regard to transparency and disclosure, FiinRatings observes the Fund’s approach of prioritising the development and validation of its impact measurement framework prior to public reporting. The Fund’s inaugural Responsible Investment Report is expected to be published in 2025, contributing to enhanced transparency and providing meaningful reference information for investors.

Based on its independent assessment using publicly available information and data provided by Eastspring Vietnam, FiinRatings has not identified any material issues that would lead it to believe that the PRUlink Vietnam Sustainable Development Fund is not aligned with the SDI AOP Taxonomy or does not adhere to the UN PRI Impact Investing Market Map methodology.

FiinRatings also notes that certain sectors, including insurance, are not yet comprehensively covered within the current scope of the SDI AOP Taxonomy and the Impact Investing Market Map methodology. However, this consideration does not alter the overall assessment of the Fund’s alignment, which is based on a comprehensive evaluation across multiple pillars and governance dimensions.

A representative of Eastspring Vietnam stated:“Eastspring Vietnam pursues an impact-oriented investment approach as part of its long-term strategy to develop responsible investment products, aligning financial objectives with the United Nations Sustainable Development Goals and the realities of the Vietnamese market. The independent assessment conducted by FiinRatings through the Second Party Opinion (SPO) has supported the PRUlink Vietnam Sustainable Development Fund in strengthening transparency and standardizing its approach to sustainable risk management. We believe this foundation will enhance the Fund’s credibility and attract strong interest from both domestic and international investors.”

👉 The full report is available HERE.

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About Eastspring Investments Vietnam

Established in Vietnam in May 2005, Eastspring Investments Management Company Limited (“Eastspring Vietnam”) was initially known as Prudential Vietnam Fund Management Company Limited, the company adopted its current name on December 9, 2011. Eastspring Vietnam adheres to a long-term value investing approach for its funds and portfolios, catering to both domestic and international individual and institutional investors.

As the largest fund management company in Vietnam by asset under management, Eastspring Vietnam currently oversees more than VND 180 trillion (equivalent to USD 7 billion) in assets.

About the PRUlink Vietnam Sustainable Development Fund

The PRUlink Vietnam Sustainable Development Fund is a unit linked insurance investment fund with a responsible and sustainable investment orientation. It is one of seven PRUlink funds offered under Prudential’s unit linked insurance products, including PRU Flexible Investment, Phu Bao Gia Thinh Vuong, Phu Bao Gia Dau Tu, and other unit linked insurance products to be launched in the future, where applicable. The Fund is designed for policyholders seeking high growth potential and with a high tolerance for investment risk.

The Fund’s objective is to achieve optimal long term risk adjusted returns through a portfolio of equity securities of companies in Vietnam that are assessed to make positive contributions to the United Nations Sustainable Development Goals through their products and services.