Prudential plc announced it has been awarded a fund management licence in Vietnam by the state Securities Commission, the Vietnamese financial services regulator. This is Prudential’s eighth fund management licence in the Asia region.
Mark Norbom, Chief Executive Prudential Corp Asia said, “We are very pleased with our new fund management licence for Vietnam. We have established an enviable reputation in this market with our life insurance operation and I would like to confirm our continued commitment to Vietnam as we work to develop this new opportunity.”
Ajay Srinivasan, Managing director, Fund Management Prudential Corp Asia added; “Our funds business in Asia has a very clear strategy for growth. We have a proven track record of delivery and have built a sizeable business in a relatively short time. Our goal is to be a significant and profitable force in all our chosen markets. With our customer-centric strategy, I am confident that we will continue this success as we develop and grow our funds business in Vietnam.”
The new Vietnamese fund management company continues the rapid expansion of Prudential’s fund management business across Asia. Prudential has a leading fund management position in a number of markets across Asia.