UOB Asset Management has recently launched the United Vietnam Equities Fund offering local retail investors exposure to the equity market in Vietnam.
Ms. Lim Suet Ling, Chief Executive Officer of UOBAM (Malaysia) said, “We are proud to introduce UVEF, which represents a significant milestone for UOB Asset Management (UOBAM). Through this fund, we offer our regional expertise to connect Malaysians to one of ASEAN’s leading market investment landscape. Vietnam’s robust economic growth and vibrant business environment present a compelling opportunity for investors seeking to tap into the region’s growth.”
The fund is for retail investors with long-term investment horizons who are comfortable with the volatility and risks of an equity fund.
UOBMs team has managed several offshore funds and mandates investing in the Vietnam market for foreign institutional investors over the last decade. This resulted in the Company having built and maintained a solid database of more than 120 Vietnamese listed companies, representing more than 90 percent of the country’s total market capitalisation.
The Vietnam fund seeks to achieve its objectives by investing a minimum of 90 percent of the Fund’s net asset value (NAV) in United Vietnam Equity Fund (Target Fund). The remaining 10 percent is invested in liquid assets, which include money-market instruments and deposits.
The Target Fund invests primarily in equity and equity-related securities of corporations and other entities listed, located, incorporated, or have significant business operations or assets in Vietnam. All investment decisions are made at the Target Fund level by its manager, UOBAM.
