Vietcombank Fund Management Makes Debut
Vietcombank Fund Management Company (VCBF), a joint venture for the management of securities investment funds between the Bank for Foreign Trade of Vietnam (Vietcombank) and the Viet Capital Holdings Pte Ltd whose headquarters are located in Singapore, made its debut on January 12 in Hanoi.
VCBF has a registered capital of VND8 billion (US$500,000), of which Vietcombank contributes 51 per cent and the Singaporean partner 49 per cent.
VCBF is the second joint venture fund manager and the sixth fund manager in Vietnam. It will manage investment funds and provide financial consulting and investment services in the country.
Right after opening, the firm established the fund Vietcombank 1 (VPF1), capitalized at VND200 billion (US$12.5 million). The fund has deployed 63 per cent of registered capital and is expected to complete investment in the second quarter of this year.
VCBF also plans to set up more funds in the country and abroad with a focus on investment in oil and gas, banking, insurance, information and technology and telecommunications industries.
Vietnam Economic Times, VNA
Vietnamese
