3:26:25 PM | 7/8/2005
The State Securities Commission (SSC), Vietnam's stock market regulator, granted a fund management licence to the Thanh Viet Fund Management Co. (TVM) on November 10, making it the second local one to be involved in the fledging bourse.
The Ho Chi Minh City-based Thanh Viet Fund Manager has chartered capital of VND11 billion (US$702,400), of which 40 per cent is contributed by the TVH Co., 30 per cent from the Phuong Nam Commercial Joint Stock Bank and 30 per cent by individual investors.
Thanh Viet is now calling for establishment of Saigon Fund. The fund plans to mobilize around VND100-150 billion (US$6.4 million-US$9.6 million), 60 per cent of which will be invested in securities.
Vietnamese
