Fullerton merging with NTUC Income

Fullerton Fund Management and insurer 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 AsianInvestor.  As a result, they noted, Fullerton will take over the running 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 governm…