The VinaWealth Fund Management Joint Stock Co. , an affiliate of the VinaCapital group, launched its open-ended VinaWealth Enhanced Fixed Income Fund on January 15.

Approved by the State Securities Commission last December, the fund, the first of its kind in Vietnam , plans a target net asset allocation of at least 80 percent in bonds.

The types of fixed income assets will include Government-guaranteed bonds, treasury bills, corporate bonds, money market investments and other instruments.

HSBC has been appointed as the supervisory bank, transfer agent and fund administrator.

Saigon Securities Incorporation (SSI), one of the top brokering houses in Vietnam, will distribute the fund units.

Roy Fong, Fixed Income Director said dealings will occur twice a month./VNA