While emerging markets ETFs closed down on Nov. 30 in the New York market, a Vietnam-focused fund surged with the Market Vectors Vietnam ETF (VNM) rising by 2.12 percent, or 52 cents, to 25.08 USD/share.
Part of Nov. 30’s surge by VNM came on news that Japanese leasing giant Orix Corp. disclosed it had taken a 25 percent stake in Indochina Capital Corp., a fund manager that focuses on real estate and investments in Vietnam.
According to a Dow Jones Newswires report, Orix has zeroed in on Indochina Capital’s involvement in development of large hotels and office buildings in Ho Chi Minh City , Hanoi and elsewhere.
VNM was launched by Van Eck Global in August 2009, becoming the first US-listed Vietnam fund. Although VNM is down more than 3 percent for the year, in the past month it has essentially traded flat while many other ETFs have slipped.
The underlying index, Market Vectors Vietnam Index, is owned by 4asset-management and currently has 28 constituents. To qualify, companies must generate at least 50 percent of their revenues from Vietnam or hold a dominant position in the Vietnamese market./.
Part of Nov. 30’s surge by VNM came on news that Japanese leasing giant Orix Corp. disclosed it had taken a 25 percent stake in Indochina Capital Corp., a fund manager that focuses on real estate and investments in Vietnam.
According to a Dow Jones Newswires report, Orix has zeroed in on Indochina Capital’s involvement in development of large hotels and office buildings in Ho Chi Minh City , Hanoi and elsewhere.
VNM was launched by Van Eck Global in August 2009, becoming the first US-listed Vietnam fund. Although VNM is down more than 3 percent for the year, in the past month it has essentially traded flat while many other ETFs have slipped.
The underlying index, Market Vectors Vietnam Index, is owned by 4asset-management and currently has 28 constituents. To qualify, companies must generate at least 50 percent of their revenues from Vietnam or hold a dominant position in the Vietnamese market./.
