US property investment fund planned
Saigon Securities Inc plans to raise a fund in Vietnam to invest in the US real estate market, according to a company official.
Saigon Securities Inc plans to raise a fund in Vietnam to invest in the US real estate market, according to a company official.
Chairman Nguyen Duy Hung said preparations were under way and he expected the fund to have fewer than 10 members.
“It will be experimental; therefore we target a scale of around 20 million USD,” he told the English-language daily Vietnam News during his company’s recent ninth anniversary ceremony, where SSI also unveiled its new logo symbolising the Cuu Long (nine dragons), or Mekong River .
Beginning operations in 2000 with a charter capital of 6 billion VND (333,0000 USD), the SSI has since expanded its capital to more than 1.5 trillion VND, the biggest of any securities company in Vietnam .
Its activities have also expanded to include investment banking, fund management, investment, and research services.
It holds 15 percent of the HCM City securities market and 7 percent of the Hanoi market.
Forty percent of foreign investors in Vietnam have accounts with the firm.
Earlier this month it received the Best Broker in Vietnam 2009 and Best Equity House in Vietnam 2009 awards from the Hong Kong-based magazine, FinanceAsia./.
Chairman Nguyen Duy Hung said preparations were under way and he expected the fund to have fewer than 10 members.
“It will be experimental; therefore we target a scale of around 20 million USD,” he told the English-language daily Vietnam News during his company’s recent ninth anniversary ceremony, where SSI also unveiled its new logo symbolising the Cuu Long (nine dragons), or Mekong River .
Beginning operations in 2000 with a charter capital of 6 billion VND (333,0000 USD), the SSI has since expanded its capital to more than 1.5 trillion VND, the biggest of any securities company in Vietnam .
Its activities have also expanded to include investment banking, fund management, investment, and research services.
It holds 15 percent of the HCM City securities market and 7 percent of the Hanoi market.
Forty percent of foreign investors in Vietnam have accounts with the firm.
Earlier this month it received the Best Broker in Vietnam 2009 and Best Equity House in Vietnam 2009 awards from the Hong Kong-based magazine, FinanceAsia./.
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