On 19 June, 2014 ACE Life announced the opening of its first fund management company in Asia, ACE Life Fund Management Company (ACE Life FMC). To support ACE Life’s expansion and growth strategy locally, ACE Life FMC will operate mainly in the securities sector with three main business lines, including: investment fund management, portfolio management service and investment advisory service. The start of ACE Life FMC’s operations marks another significant milestone in the company’s long-term confidence and commitment to Vietnam. With the license granted by State Securities Commission of Vietnam in October 2013, the new company is headquartered on the Eighth Floor of the Sun Wah Tower, 115 Nguyen Hue Street, District 1, Ho Chi Minh City.
At the opening ceremony, Lam Hai Tuan, Chairman and Country President of ACE Life in Vietnam, said, “The recent development of Vietnam’s financial market shows many opportunities for the growth in the fund management industry. The opening of ACE Life FMC proves ACE Life’s commitment to grow the Vietnam’s economy via contributing more in mobilizing the domestic capital as well as attracting foreign investment capital into the country.Supported and promoted by the Vietnamese government, ACE Life FMC will enable ACE Life to develop pension products to participate in the voluntary pension scheme. It will also support the development of other investment-linked insurance products to diversify its product categories to provide more choices and better service for customers”.
One of the main objectives of ACE Life FMC is to effectively manage the increasing assets of ACE Life in Vietnam. Hence, in the initial phase of its development, ACE Life FMC’s strategy is to primarily focus on managing ACE Life’s portfolio through its investment management service of the Life Insurance Fund of ACE Life in Vietnam.
In the next phase, when the company grows its workforce, ACE Life FMC aims to expand its business scope, including:
After more than nine years operating in the Vietnam’s life insurance market, ACE Life has sustained rapid growth with its total assets exceeding 2,700 billion VND (approximately USD128 million) which has been steadily increasing over the years.
ACE Life Contact Information
ACE Life Insurance Co., Ltd.
21st Floor, Sun Wah Tower
115 Nguyen Hue St., Dist. 1
HCMC, Viet Nam