Insurer Manulife Vietnam invests $4.7 bln in wholly-owned fund management firm
Manulife Vietnam, under Canada-headquartered life insurer Manulife, poured a total VND118.37 trillion ($4.7 billion) under an investment trust into its wholly-owned fund management company as of end-2024.
Of this amount, Manulife Vietnam Fund Management Company Limited (MVFM Co., Ltd) allocated nearly VND17.51 trillion ($678.4 million) to listed equity securities, VND64.94 trillion ($2.4 billion) to listed debt securities, and VND13.1 trillion ($507.8 million) to unlisted debt securities.
According to MVFM’s audited earnings report for 2024, the value of listed equity securities as of December 31, 2024 decreased by 2.27% compared to the total value.
Manulife Vietnam's headquarters in Ho Chi Minh City, southern Vietnam. Photo by The Investor/Dang Kiet.
Besides the investment from Manulife Vietnam, MVFM also received separate investment trusts from the MAFEQI Fund (VND446 billion or $17.28 million), MAFBAL Fund (VND220 billion or $8.53 million), and MDI Fund (VND124.7 billion or $4.83 million).
Last year, MVFN earned a net profit of VND265.3 billion ($10.28 million) on a revenue of VND382.9 billion ($14.84 million), up 15.5% and 14% year-on-year, respectively.
As of end-2024, MVFN had total assets of VND1.01 trillion ($394.1 million), up nearly 35% from early last year.
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