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Southern bourse welcomes fourth securities fund
The VietFund Management (VFM) on June 12 launched certificates of a fund under its management onto the Ho Chi Minh City Securities Exchange.
With the listing of the First-Class Vietnam Enterprise Fund (VF4) certificates in the codename VFMVF4 on its floor, the largest national bourse now sees the transaction of four securities investment funds.
VF4 registers a chartered capital of 806.46 billion VND, equivalent to 80.646 million fund certificates with foreign investors holding an almost 42 percent stake.
The fund was founded by VFM and is supervised by the Ho Chi Minh City branch of HSBC.
It is licensed for a 10 year operation term to supply investments for leading national companies in energy, material-mining, financing, banking, telecommunications, infrastructure construction and real estate development.
VFM, a joint-venture between Sacombank and Britain ’s Dragon Capital, is the first capital fund in Vietnam with total asset estimated at over 340 million USD. VFM is managing some 5 trillion VND through several fund products, including VF1 for securities investment, VF2 for investment in growth and VF4. The company is drawing over 8,000 investors from both at home and abroad.
VNA
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