The list of stocks in the VN30 Index. — Source HOSE

SSI Asset Management Co., Ltd. has received the registration certificate from the State Securities Commission of Vietnam to establish its exchange-traded fund, ETF SSIAM VN30.

It had launched the IPO for it from June 1 to 26. The initial value of the fund is estimated at at least VND50 billion (US$2.15 million).

SSIAM plans to list it on the Ho Chi Minh City Stock Exchange (HOSE) on August 13.

The fund is open-ended and will passively replicate the performance of the VN30-Index, which contains the 30 largest stocks by market value and liquidity on HOSE.

It will be managed by SSIAM along with founders SSI Securities Corporation, Mirae Asset Securities (Vietnam), and BIDV Securities.

This is the second ETF to track the VN30- Index.

SSIAM VN30 ETF has a total expense ratio of 0.75-0.8 per cent, the lowest in the market.

In future, when the Vietnamese stock market gets emerging market status, ETFs would attract most of the cash flows coming into the country instead of active funds, the company said.

Therefore, research and establishment of ETFs based on various indices would be essential and is part of its plans next, it added. — VNS