16:25 | 11/01/2019 Companies
(VEN) - Dai-ichi Life Vietnam Fund Management Company Limited (DFVN), the wholly-owned subsidiary of Dai-ichi Life Insurance Company of Vietnam, Limited, a member of Dai-ichi Holdings Inc. (Japan), has just launched its DFVN Capital Appreciation Fund (DFVN-CAF), with chartered capital of 75,121,600,000 dong, in according with the Incorporation License for public securities investment fund No. 34/GCN-UBCK by the State Securities Commission of Vietnam (SSC) dated January 3rd 2019.
DFVN-CAF is the first Open-ended fund established and managed by DFVN. With dedicated on-the-ground experienced team of professionals, DFVN has been entrusted to manage life insurance funds of capital of the Dai-ichi Life Insurance Company of Vietnam, Limited (Dai-ichi Life Vietnam) with the total asset under management over VND17,000 billion as of November 2018. Taking a long term view, DFVN emphasizes being disciplined in investment process while remains flexible in execution of investment tactics in response to market conditions.
DFVN-CAF investment strategy is the combination of value style - setting a foundation of quality investment assets/equities with good fundamentals that can bring in stable sources of return, and growth investment strategy - navigating opportunities for potential higher income; a fusion investment method combining “top-down” macros, industry analysis and “bottom-up” approach looking deeper into company fundamentals, stock valuations while closely monitoring the market movement, technical indicators, will be implemented. DFVN-CAF will invest mainly in a diversified portfolio of listed equities in Vietnam with good fundamental, high growth potential and solid corporate governance. The fund aims to outperform its benchmark the VN-Index over the long term.
Talking about the market outlook, the business strategy and the DFVN-CAF’s unique values to investors, Mr. Tran Chau Danh, Chief Executive Offer cum Chief Investment Officer, member of Member Council, DFVN said: “There are 24 open-ended funds (OEF) incorporated in Vietnam as of November 30th 2018, with total asset under management of VND13,378 billion and around 30,000 transaction accounts open; these figures seems quite modest in comparison with our population and economic growth scale as well to those of other regional countries. The market potential, therefore, is huge out there, provided that we have the right approach to our prospects, and providing them with quality investment solutions. In recent years, there are several local fund management companies (FMCs) who have been trying really hard and made adequate investment to enhance operation systems, which brought benefits and values to their investors. When launching DFVN-CAF, we aim to be among the best FMCs, contributing to the sustainable development of the investment fund market in Vietnam. Accordingly, we focus on delivering the best values to our investors with optimal and consistent investment performance over the long run as well as to enhance our quality services to our investors”.
Mr. Takashi Fujji, Chairman of Dai-ichi Life International Asia Pacific cum Chairman of DLVN & DFVN Member Councils, shared: “With 12 years in operations, Dai-ichi Life Vietnam, the owner company of DFVN, has been growing more than 20 times its total premium revenue, building a solid foundation and standing as one of the 4 leading life insurance companies in Vietnam. Over this development journey, DFVN has been playing a significant role in managing and investing capital of life insurance policy-owners. Loyal to our philosophy “Customer first”, we have provided our clients with a diversified portfolio of quality life insurance products and the launching of DFVN-CAF will give our clients another option of financial solution with Japanese quality, helping clients to accumulate and grow their wealth efficiently over time so that they can enjoy their desired lifestyle.”
Our service providers to the Fund and distribution partners play important roles in the success of the fund operations. DFVN selects the HSBC Bank (Vietnam) Limited as the Custodian and Supervisory Bank, as well as the provider of fund administration and transfer agency services to DFVN-CA.F. Regarding distribution partners, at the IPO, DFVN appoints BIDV Securities JSC (BSC) and Viet Dragon Securities JSC (VDSC) distributors servicing investors to the DFVN-CAF.
Ongoing transactions - new subscriptions and/or redemptions - can be started over again from January 29th, 2019.