Ho Chi Minh City– Manulife Vietnam Fund Management Company announces today the successful closing of the Manulife Progressive Fund (MAFPF1) on Friday, September 14, 2007. The fund has attracted more than 1000 retail and institutional investors and is now closed for subscription. The General Meeting of Investors is scheduled to be held on October 6th, 2007 at the Sheraton Hotel, Ho Chi Minh City.
Mark Canizares, Equities Director of Manulife Vietnam Fund Management Company, and the fund’s manager said: “The fund will give investors access to Vietnam’s rapid economic development and the strong long term performance expected from its equity market. It will be one of the few such funds offered to Vietnam’s investors that will be focused on Vietnam equities.”
“We are delighted that the fund has proven to be such a popular choice with investors and that we have been able to successfully close it in less than two months, in advance of our expectations. We believe this is a good time to be investing in this market for the longer term as Vietnam is in the very early stages of its economic reforms. Our strong belief is that the equity market will continue to perform in line with the rapidly expanding economy and recent price corrections have made some shares especially attractive”, said Gilbert Pak, General Director of Manulife Vietnam Fund Management Company.
“Manulife Vietnam Fund Management offers investors access to local investment know-how backed by the global investment expertise of MFC Global Investment Management. Manulife Financial's key operating subsidiaries received a AAA rating for financial strength by Standard & Poor's, making Manulife one of only two publicly traded life insurance companies in the world with this distinction,” Mr Pak continued.
“We have a strong and proven record of providing effective wealth management and investment solutions for clients and we believe that makes for a compelling proposition for Vietnamese investors. Our investment principles are depth, discipline and focus. We will focus our investment strategy on companies that we believe exhibit high quality earnings growth potential with sound strategies and a strong management team and that are likely to benefit from Vietnam’s WTO accession.” added Mr. Pak.
To find out further information about the MAFPF1 fund, please access our website www.manulifefunds.com.vn or call us at (08) 416 0760.
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 by MVFM are in excess of VND 3,000 billion including both bond and equities.
As a member of MFC Global Investment Management, it is the brand name identifying the diversified investment management group of Manulife Financial, with investment offices in the United States, Canada, the United Kingdom, Japan, Hong Kong, and throughout Southeast Asia. MFC Global has more than CDN$240 (US$210) billion in assets under management and more than 100 years of experience managing portfolios for The Manufacturers Life Insurance Company, John Hancock Life Insurance Company, and other major clients.
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$410 billion (US$386 billion) as at June 30, 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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