Business

Vietcombank affiliate to handle AIA portfolios

The Vietcombank Fund Management Co will manage three portfolios of life-insurance firm AIA Vietnam under an investment management agreement signed on Oct. 26.
The Vietcombank Fund Management Co will manage three portfolios oflife-insurance firm AIA Vietnam under an investment management agreementsigned on Oct. 26.

According to the insurer's CEO Jamie Rains, the three portfolios are worth 150 billion VND.

The Conservative Portfolio aims to generate stable interest income andpreserve capital mainly through investment in Vietnamese Government andcorporate bonds.

The Balanced Portfolio's objective is tomaximise total investment return through bonds and equities. Meanwhilethe Growth Portfolio targets capital appreciation by investing in listedequities in the country.

The Vietcombank Fund is a jointventure between Vietcombank and US-headquartered Franklin TempletonInvestments established in 2005. Currently it has three active funds.

Its CEO Gregory Steven Kok said his company plans to launch a fourthfund worth 75 million USD from institutional investors in Vietnamthat 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 645 billion USD as ofSeptember this year, has offices in 30 markets and product offerings inover 170./.
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