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Vietcombank affiliate to handle AIA portfolios
The Vietcombank Fund Management Company will manage three portfolios of life-insurance firm AIA Vietnam under an investment management agreement signed on October 26.
According to the insurer's CEO Jamie Rains, the three portfolios are worth US$150 million.
The Conservative Portfolio aims to generate stable interest income and preserve capital mainly through investment in Vietnamese Government and corporate bonds.
The Balanced Portfolio's objective is to maximise total investment return through bonds and equities. Meanwhile the Growth Portfolio targets capital appreciation by investing in listed equities in the country.
The Vietcombank Fund is a joint venture between Vietcombank and US-headquartered Franklin Templeton Investments established in 2005. Currently it has three active funds.
Its CEO Gregory Steven Kok said his company plans to launch a fourth fund worth US$75 million from institutional investors in Viet Nam that they expect to raise by the second quarter of 2011.
The new fund will specialise in the country's real estate sector, Kok said.
Franklin Templeton, which manages assets worth US$645 billion as of September this year, has offices in 30 markets and product offerings in over 170.
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