Fund management companies are being lifted to a successful year by the recovery of the economy and the stock market, according to a three-day investors conference organised by French firm Jaccar.
With its first two days in HCM City and a final day in Hanoi , the first-ever event gathered around 100 foreign investors from around the world for an opportunity to meet with the CEOs and CFOs of 40 listed companies.
Represented companies were drawn from such sectors as retail, petroleum, tourism, pharmaceuticals, telecommunications, banking and finance, rubber and industrial park management.
“Vietnam is Asia’s rising star and is attracting investors from around the globe, thanks to a budding export sector and fast-expanding consumer market which makes the country’s growth rate one of the region’s most exciting,” said Teo Chang Seng, acting CEO and executive director of HLG Unit Trust Bhd, which manages an equity and growth fund, the HLG Vietnam Fund, launched in February 2008.
Conference organiser Jaccar launched its first Vietnam investment fund, the closed-end 150 million USD Jaccar Capital Fund, in 2006, and another, the 100 million USD Vietnam Century Fund, in 2008.
It also manages the open-end Vietnam Opportunity Growth (VOG) fund, started with about 20 million USD in 2007.
Jaccar CEO Jacques de Chateauvieux said market liquidity in Vietnam has improved recently and he would consider enlarging the VOG fund once liquidity is stronger. Jaccar has also invested directly in a number of Vietnamese companies.
Speaking during the HCM City leg of the conference, State Securities Commission vice chairman Nguyen Doan Hung said that foreign investment in Vietnam ’s stock market remained low compared to other regional markets.
He said that his commission and relevant authorities are making changes in the legal framework to boost market growth, including granting more permits for open-ended funds, already popular on other markets.
The commission is also completing regulations on margin and repo trading for submission to the Ministry of Finance for final approval, Hung said.
Last week, the Vietnam Asset Management (VAM) and Malaysia ’s HLG Unit Trust Bhd launched their Invest in Vietnam campaign with road shows in several cities across Malaysia .
“The Vietnam equity market still has plenty of room for growth given enormous potential in the over-the-counter and equitisation segments. The current stock market rally reflects an on-going recovery in the economy and corporate earnings,” said VAM general director Nguyen Xuan Minh./.
With its first two days in HCM City and a final day in Hanoi , the first-ever event gathered around 100 foreign investors from around the world for an opportunity to meet with the CEOs and CFOs of 40 listed companies.
Represented companies were drawn from such sectors as retail, petroleum, tourism, pharmaceuticals, telecommunications, banking and finance, rubber and industrial park management.
“Vietnam is Asia’s rising star and is attracting investors from around the globe, thanks to a budding export sector and fast-expanding consumer market which makes the country’s growth rate one of the region’s most exciting,” said Teo Chang Seng, acting CEO and executive director of HLG Unit Trust Bhd, which manages an equity and growth fund, the HLG Vietnam Fund, launched in February 2008.
Conference organiser Jaccar launched its first Vietnam investment fund, the closed-end 150 million USD Jaccar Capital Fund, in 2006, and another, the 100 million USD Vietnam Century Fund, in 2008.
It also manages the open-end Vietnam Opportunity Growth (VOG) fund, started with about 20 million USD in 2007.
Jaccar CEO Jacques de Chateauvieux said market liquidity in Vietnam has improved recently and he would consider enlarging the VOG fund once liquidity is stronger. Jaccar has also invested directly in a number of Vietnamese companies.
Speaking during the HCM City leg of the conference, State Securities Commission vice chairman Nguyen Doan Hung said that foreign investment in Vietnam ’s stock market remained low compared to other regional markets.
He said that his commission and relevant authorities are making changes in the legal framework to boost market growth, including granting more permits for open-ended funds, already popular on other markets.
The commission is also completing regulations on margin and repo trading for submission to the Ministry of Finance for final approval, Hung said.
Last week, the Vietnam Asset Management (VAM) and Malaysia ’s HLG Unit Trust Bhd launched their Invest in Vietnam campaign with road shows in several cities across Malaysia .
“The Vietnam equity market still has plenty of room for growth given enormous potential in the over-the-counter and equitisation segments. The current stock market rally reflects an on-going recovery in the economy and corporate earnings,” said VAM general director Nguyen Xuan Minh./.
