The Progressive Public Closed-end Fund Offers Optimized Growth for Potential Investors.
Ho Chi Minh City – Manulife Vietnam Fund Management today held a roadshow to introduce its new Progressive Fund (MAFPF1) to potential investors at the Sheraton Hotel. The public closed-end fund, which has been licensed by the SSC (State Securities Committee), aims to raise capital of VND 250 billion from the initial public offering with total fund units of 25,000,000 of VND 10,000 each.
Manulife Vietnam Fund Management has appointed ACB Securities (ACBS), Bao Viet Securities (BVSC) and Saigon Securities (SSI) as distributors to sell the units. The Fund will be in operation for 7 (seven) years from the Fund closing date and is open to both institutional and retail investors throughout Vietnam. The minimum investment is 1,500 units or VND 15 million.
Manulife Progressive Fund (MAFPF1) is a fund that seeks to deliver optimized growth thanks to Manulife’s strategic approach to identifying and evaluating companies and stocks.
“We are very proud to launch the Manulife Progressive Fund. Vietnam is in the early stages of financial market development and although the securities market is growing at an incredible rate, investors currently have limited options when choosing funds to invest. Manulife seeks to bridge this gap by introducing this new product to the market. The fund focuses on companies with the potential for high quality earnings growth, particularly those that are likely to benefit from Vietnam’s WTO accession.” said Gilbert Pak, General Director of Manulife Vietnam Fund Management Company.
“Recently awarded an AAA rating by Standard & Poor’s for its financial strength and stability, Manulife gives investors access to highly-qualified managers backed up by the global investment expertise of MFC Global Investment Management. This, combined with our strong and proven record of providing effective wealth management and investment solutions for clients, makes for a compelling proposition for Vietnamese investors.” added Gilbert.
The MAFPF1 will be available from July 19, 2007. To find out about how to enroll, please access our website www.manulifefunds.com.vn or call our telephone (08) 416 0760 for further details.
About Manulife Vietnam Fund Management Company :
On June 14, 2005, Manulife Vietnam Fund Management (MVFM), a wholly owned local subsidiary of Manulife Vietnam, was granted license to operate a fund management and investment-finance consulting business, further expanding Manulife Vietnam’s product offerings for its customers.
Asset under management of MVFM has been up to VND 3,000 billion including bond and equities under the Investment Management Agreement with Manulife Vietnam. MVFM is also a member of MFC Global Investment Management with investment offices in the United States, Canada, The United Kingdom, Japan, Hong Kong and throughout Southeast Asia. MFC Global Investment Management has more than 100 years experience managing portfolios for the Manufacturers Life Insurance Company, John Hancock Life Insurance Company, and other major clients. With more than Cdn$230 billion in assets under management, MFC Global Investment is a leading global investment management group.
About Manulife (Vietnam) Limited
Manulife Vietnam - the first 100 per cent foreign-owned life insurance company licensed in Vietnam - provides financial services to more than 300,000 customers through a network of 3,000 professionally qualified agents. Manulife has been operating in Vietnam since June 1999.
About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$426 billion (US$370 billion) as at March 31, 2007.
Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.
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