Business

SSI asset management to IPO new fund by end of June

SSI Asset Management Co Ltd (SSIAM) will launch an IPO for its exchange-traded fund ETF SSIAM VN30 between May 26 and June 29.
SSI asset management to IPO new fund by end of June ảnh 1A trading session at SSI Securities Corp (SSI). (Photo tinnhanhchungkhoan.vn)

Hanoi (VNA) - SSI Asset Management Co Ltd(SSIAM) will launch an IPO for its exchange-traded fund ETF SSIAM VN30 betweenMay 26 and June 29.

The new fund mimics the movement of the large-cap trackerVN30-Index, which contains the 30 largest stocks by market value and tradingliquidity on the Ho Chi Minh Stock Exchange (HoSE).

The initial value of the fund is estimated at 50 billion VND (2.13 million USD).

SSIAM gained approval from the State Securities Commissionfor the IPO on May 22.

SSI Securities (SSI), Mirae Asset Vietnam Securities and BIDVSecurities are the managers of the fund, while the supervisor is the JointStock Commercial Bank for Foreign Trade of Vietnam (Vietcombank).

The ETF will be listed on HoSE following the offering.

SSIAM VN30 ETF is the second fund that tracks the large-capVN30-Index. The first is the VFMVN30 ETF managed by VietFund Management (VFM)with a total value of 6 trillion VND (255.75 million USD).

According to SSIAM, the 30 stocks in the VN30 basket accountfor 73.4 percent of total market capitalisation. Those stocks are also leadingcompanies in their sectors.

The new fund is expected to become a good-quality andlow-cost option for investors. It will help increase capital flowing intoinvestment funds and make investors pay more attention to fund certificates inaddition to buying stocks.

On March 18, SSIAM’s exchange-traded fund SSIAM VNFIN LEADdebuted on HoSE./.
VNA
#SSI Asset Management Co Ltd (SSIAM) #IPO #exchange-traded fund ETF SSIAM VN30 #Vietnamplus #Vietnam News Agency
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