SSIAM to debut new fund certificate this week

Monday, Mar 16, 2020 08:40

The Ho Chi Minh Stock Exchange. SSI Asset Management Co Ltd will debut its new ETF certificate on Wednesday. – Photo

SSI Asset Management Co Ltd’s fund certificate SSIAM VNFIN LEAD will debut on the Ho Chi Minh Stock Exchange (HoSE) on Wednesday with ticket code FUESSVFL.

The fund certificate is being issued by the firm’s exchange-traded fund ETF SSIAM VNFIN LEAD to simulate the movement of HoSE’s Vietnam Leading Financial Index (VNFIN LEAD).

SSI Asset Management Co (SSIAM) launched its ETF in December 2019 after HoSE introduced VNFIN LEAD and two other new indices in mid-November 2019.

VNFIN LEAD will track financial-banking stocks, which account for 27-30 per cent of the total market capitalisation.

The birth of the fund is expected to give more options to foreign investors, who are keen on investing in Vietnamese financial firms.

According to the ETF's CEO Nguyen Minh Hanh, the Vietnamese stock market has been a bear market since the end of January as worries about the impact of COVID-19 on the economy make it harder to raise funding.

But all difficulties would be short-lived as ETFs were the main channel that lured foreign capital, he said.

Hanh also said SSIAM will launch one or two new ETFs in 2020.

The Vietnamese ETF industry will become more active in the near future as other fund management firms are planning IPOs and market debuts.

The Vietnam Fund Management Co’s VFM VNDiamond ETF plans to launch its IPO in March and debut on HoSE in May 2020.

VinaCapital plans to introduce the first VN100-based ETF tracking 100 large-cap and mid-cap stocks on HoSE.

There are now two domestic ETFs and five foreign ETFs on Viet Nam’s stock market with total value of US$900 million. – VNS

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