Company executives and guests cut the ribbon to inaugurate Dai-ichi Life Viet Nam Fund Management Company in HCM City on Tuesday. — VNS photo Xuan Huong

HCM CITY – Japanese-owned Dai-ichi Life Vietnam Insurance Company on June 3 inaugurated fund management subsidiary Dai-ichi Life Viet Nam Fund Management Company.

Speaking at the inauguration, Takashi Fujii, chairman of both companies, said following its great success in the life insurance industry, Dai-ichi decided to expand into fund management.

The establishment of the company "has affirmed our strong financial strength, aspiration for growth and long-term orientation in the Viet Nam market, as well as our belief in the continued development of the Vietnamese economy," he said.

Morinobu Nagahama, managing director of Dai-ichi Life Japan, said: "Initially, besides the management of Dai-ichi Life Viet Nam's investment portfolio, we wish to establish and manage the members' fund with the contribution between Dai-ichi Life Viet Nam and Dai-ichi Life Japan.

"Together with the growth in both life and fund management sectors, we wish to play a bigger part in the continued economic and social development of Viet Nam."

Dai-ichi, which has been in Viet Nam for seven years, received the licence for the fund in March.

The new company would begin operations on July 1, Fujii said. — VNS