Thang Long Meritz Capital Fund Management Joint Stock Company (TLM Capital), the first South Korea-invested manager in Vietnam, will start its operations this week, moving to tap opportunities in the country’s long-term potential stock market.
TLM Capital is jointly founded by Thang Long Investment, Handico Finance and Meritz Securities from South Korea, with Carpa Investment Holdings as the strategic partner.
“Vietnam has great long-term growth potential. Not only listed companies on the Vietnamese stock exchange, but also many firms on the over-the-counter (OTC) market and state-owned enterprises are expected to make enormous progress over the next 10 years,” said the fund’s Chief Investment Officer Choi Chang Hoon.
The global financial crisis is a chance for the firm to start the business at this time as there are better-priced assets available, he said.
TLM Capital has already started blue-chip equity fund with the name TF-1. Another member fund for a small group of investors to invest in high quality listed shares in Vietnam, and a larger public fund for target clients will be set up later, the officer noted.
“In the listed market, about 40 out of more than 350 listed companies are under-valued and we have seen this opportunity,” TLM Capital’s CEO Hoang D. Quan said.
The corporate bond market in Vietnam will also be an optimal choice for fund-rich people in the long run, he added.
“We may not have seen the real bottom of the economic downturn, but I think we have seen that of the stock market. Vietnam’s equity markets seem to track global markets, and the VN-Index can reach 400-500 points by the end of this year,” Hoon said.
TLM Capital expects to become one of the five leading fund managers in Vietnam in the next three years. The country is now home to 47 fund management firms. (Securities Investment, VNA)
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