Blue-chips to be tracked by foreign index

Seven blue-chips of the Vietnamese stock market were selected to be tracked by an exchange-traded fund (ETF) governed by US investment management company iShares.

They were property developer Vingroup (VIC), food processor Masan (MSN), Sacombank (STB), Phu My Fertiliser (DPM), Vietcombank (VCB), Vietinbank (CTG) and insurer Bao Viet (BVH). The seven stocks accounted for 2.4 per cent of the fund's total value.

iShare previously applied to the US Securities Exchange Commission to establish an ETF called iShares MSCI Viet Nam Investable Market Index Fund. However, there has been no sign that the fund has yet gone into operation.

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