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AFP - Manulife insurance company draws funds from new product   2008-06-05 - VNS

The Canadian life insurance company Manulife Vietnam announced yesterday three new funds which would use premiums paid by customers of its new product, Maxx Phuc Loc Thinh Vuong (Happiness and Prosperity).

Manulife’s general director David Wong said the insurance product would combine protection benefits and financial investment.

The open Progressive Fund, Growth Fund and Balanced Fund offer customers a variety of investment options, which they can choose to suite different investment needs and risk tolerance.

Customers can switch their investment from one to another fund.

The Progressive Fund will invest from 70 per cent to 100 per cent of its capital in equities of companies operating in Viet Nam.

The remaining money will directly or indirectly go to bonds, savings accounts and other investment instruments.

The Growth Fund will put between 50 to 80 per cent of its capital in equities, while the Balanced Fund will put 40 to 60 per cent of its capital in company shares.

Speaking to Viet Nam News, the general director was optimistic about the operation of the funds as he saw the potential of the stock market in the long run.

Manulife Vietnam began operation in 1999, serving more than 300,000 customers through a 5,300-agent network. Apart from insurance, it also operates a fund management business.

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