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Local incorporFirst open-end fund launched in Vietnamated fund management company VinaWealth has launched Bao Thinh Vinawealth (VFF) – Vietnam’s first open-end fund – in HCM City on January 15.

The State Securities Commission granted the fund its public investment fund certificate.

At least 80 percent of the VFF’s investment portfolio is comprised of bonds, with a focus on Government bonds and bonds guaranteed by the Government, as well as corporate bonds, money market tools, and other assets.

Vinawealth aims to become the local fund management leader in Vietnam, offering a wide range of value-added investment products and services for the Vietnamese capital market.

VinaWealth Chief Executive Officer Sebastian Subba said launching an open-end fund is currently opportune, expressing confidence that VFF will attract investment in accordance with the financial capacity of potential customers.

(VOV)

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