Vietnam-India venture to help manage Bao Viet Fund

Monday, Mar 16, 2015 16:02

HPT-Credence joint venture signs a contract to provide an investment management system for Bao Viet Fund on March 16 in Ha Noi. — VNS Photo

HA NOI (Biz Hub) — The HPT-Credence joint venture signed a contract to provide an investment management system for Bao Viet Fund Management Co., Ltd for the 2015 to 2016 period on March 16 in Ha Noi.

The system, which meets international standards, would help the Bao Viet Fund optimise portfolio management and achieve an end-to-end transaction processing system in order to innovate and scale up operations. It would also offer a risk management module for maintaining limits and tracking exposure, improve efficiency and deliver a better performance for business processes.

The solution would not only enable the Bao Viet Fund to minimise operational costs, but also simplify and automate its compliance with regulations and policies of the government.

Speaking at the signing ceremony in Ha Noi, the fund's CEO Bui Tuan Trung said its long-term strategy was to diversify clients and strengthen the management capacity of new assets while keeping up with high business requirements. He said obtaining the system would be "an obvious advantage for Bao Viet Fund to gain more and more clients, who are international and domestic enterprises."

"This also facilitates the fund to launch advanced financial products for individuals who appear to be increasingly demanding," he said.

Dinh Ha Duy Linh, CEO of HPT Vietnam Corporation, said the joint implementation of the system by HPT and Credence was developed on a single platform and would ensure compliance with Bao Viet Fund policies, aid the fund in simplifying business operations, and boost performance effectively.

Bao Viet Fund, a subsidiary with 100 per cent capital of Bao Viet Holdings, specialises in managing investments of insurance companies in the sectors of life insurance and general insurance. It has total assets under management of approximately VND20 trillion (US$952.3 million).

HPT Corporation, founded in 1995, provides comprehensive IT application software from system integration consultancy and provision, software development to other specialised services.

India-based company Credence Analytics has more than two decades of experience in providing and implementing software solutions to banks and financial institutions worldwide. It has a widespread network of clients and partners, especially in the Asia-Pacific. — VNS

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