The Vietcombank Fund Management Co will manage three portfolios of life-insurance firm AIA Vietnam under an investment management agreement signed 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 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 75 million USD from institutional investors in Vietnam 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 645 billion USD as of September this year, has offices in 30 markets and product offerings in over 170./.