Hantoo Asset Management "Vietnam Subsidiary Partners with Hanwha Life to Enter Vietnam Variable Insurance Market"

Korea Investment Management announced on the 15th that its Vietnam subsidiary (KIMVN) is entering the Vietnamese variable insurance market in partnership with Hanwha Life Vietnam.

To enter the Vietnamese variable insurance market, KIMVN signed a partnership agreement with Hanwha Life Vietnam on the 3rd of this month. As the discretionary asset manager for Hanwha Life Vietnam, KIMVN is launching a new variable insurance product today.

KIMVN is the first Korean asset management company to manage variable insurance products on a discretionary basis in Vietnam. The main investment targets of this product are high-dividend and growth equity funds. The included funds invest in mid-to-large cap stocks that aim for stable and sustainable growth by △having excellent liquidity, △dividend yields exceeding market returns, and △high growth potential.

With this launch, Hanwha Life Vietnam will introduce its second product following its existing equity-type variable insurance product. Starting with the new product, KIMVN and Hanwha Life Vietnam plan to offer a diverse investment portfolio to Hanwha Life variable insurance customers. After the product launch, Hanwha Life Vietnam will conduct nationwide agency training in nine major cities across Vietnam together with KIMVN.

Korea Investment Management was the first domestic asset management company to open a research office locally in Vietnam in 2006 and began managing Vietnam investment funds. In 2020, the office was converted into a corporation (KIMVN). Currently, total assets under management (AUM) amount to 1.7 trillion KRW, ranking third among Vietnamese asset management companies and second in equity fund AUM.

KIMVN is especially recognized for its expertise in Vietnamese equity funds. In February this year, it was selected as a top 10 asset management company managing exchange-traded funds (ETFs) by the Vietnam Securities Depository Center (VSDC). In April, the ‘KIMVN Vietnam Growth Fund’ ranked first in one-year returns. In the same month, it was awarded in the Vietnamese equity category at the ‘2024 Lipper Fund Awards Japan,’ a ceremony hosted by the global fund rating agency Lipper.

Hanwha Life Vietnam entered Vietnam in 2008 as the first domestic insurance company to do so. Currently, it holds total assets of 1 trillion KRW and employs 536 staff (including 37,536 agents), ranking 10th among life insurance companies in Vietnam. Hanwha Life Vietnam has been selected as one of the ‘Top 10 Life Insurance Companies in Vietnam’ for eight consecutive years. It has also been listed among the ‘Top 500 Vietnamese Companies’ for four consecutive years, receiving high recognition locally.

Yoon Hang-jin, head of Korea Investment Management’s Vietnam subsidiary, said, “As KIMVN enters its 19th year in Vietnam, we are pleased to provide new variable insurance products to customers of Hanwha Life Vietnam, a major life insurance company, through this partnership. Based on our long-standing fund management experience locally, we will develop and offer various products to serve customers’ interests in the Vietnamese variable insurance market.”