UOB Asset Management (UOBAM) (Malaysia) has launched a Vietnamese equities fund, allowing retail investors to gain exposure to the country’s growth potential.
Called the United Vietnam Equities fund (Uvef), the fund will be run out of UOBAM’s office in Ho Chi Minh City, the asset manager detailed in an announcement.
Uvef will invest a minimum of 90% of the fund’s net asset value in the United Vietnam Equity Fund (Target Fund). The remaining 10% will be invested in liquid assets, which includes money-market instruments and deposits.
The Target Fund invests primarily in equity and equity-related securities of corporations and other entities listed that are either located, incorporated in or have significant business operations or assets in Vietnam. All investment decisions are made at the Target Fund level by its manager, UOBAM.
The team in Vietnam has managed several offshore funds and mandates investing in the Vietnamese market for foreign institutional investors in the last decade.
To date, the company has a database of more than 120 Vietnamese listed companies, which represents more than 90% of the country’s total market capitalisation.
