SSI Asset Management Co., Ltd has received approval for the initial public offering of its Vietnam Long-term Growth Fund.

The objective of the new open-ended fund is to generate steady returns in the long term for investors by investing in high-quality stocks in industry groups that make an important contribution to the growth of the economy such as consumer goods, retail, banking, real estate, and logistics.

So VLGF will invest mostly in stocks of leading companies and those with a strong business model, good corporate governance, a competent and transparent management, a healthy financial position, and long-term growth prospects.

It will also invest in companies with lower market caps and liquidity if they meet sustainable development criteria and have good potential for growth and fixed income assets.

Application and payment should be done between October 27 and November 16.

The offer price is VND10,000, and there is no issuance fee.

The minimum investment is VND500,000.

The fund is expected to list at the end of this year.

Le Thi Le Hang, CEO of SSIAM, said, “We see an increasing trend of investing in open-ended funds since last year, especially by those who don't have a lot of money to invest.” — VNS