Fund management companies are beinglifted to a successful year by the recovery of the economy and thestock market, according to a three-day investors conference organisedby French firm Jaccar.
With its first two days in HCM City and a final day in Hanoi , thefirst-ever event gathered around 100 foreign investors from around theworld for an opportunity to meet with the CEOs and CFOs of 40 listedcompanies.
Represented companies were drawn from such sectors as retail,petroleum, tourism, pharmaceuticals, telecommunications, banking andfinance, rubber and industrial park management.
“Vietnam is Asia’s rising star and is attracting investors fromaround the globe, thanks to a budding export sector and fast-expandingconsumer market which makes the country’s growth rate one of theregion’s most exciting,” said Teo Chang Seng, acting CEO and executivedirector of HLG Unit Trust Bhd, which manages an equity and growthfund, the HLG Vietnam Fund, launched in February 2008.
Conference organiser Jaccar launched its first Vietnam investment fund,the closed-end 150 million USD Jaccar Capital Fund, in 2006, andanother, the 100 million USD Vietnam Century Fund, in 2008.
It also manages the open-end Vietnam Opportunity Growth (VOG) fund, started with about 20 million USD in 2007.
Jaccar CEO Jacques de Chateauvieux said market liquidity in Vietnam hasimproved recently and he would consider enlarging the VOG fund onceliquidity is stronger. Jaccar has also invested directly in a number ofVietnamese companies.
Speaking during the HCM City leg of the conference, State SecuritiesCommission vice chairman Nguyen Doan Hung said that foreign investmentin Vietnam ’s stock market remained low compared to other regionalmarkets.
He said that his commission and relevant authorities are making changesin the legal framework to boost market growth, including granting morepermits for open-ended funds, already popular on other markets.
The commission is also completing regulations on margin and repotrading for submission to the Ministry of Finance for final approval,Hung said.
Last week, the Vietnam Asset Management (VAM) and Malaysia ’s HLG UnitTrust Bhd launched their Invest in Vietnam campaign with road shows inseveral cities across Malaysia .
“The Vietnam equity market still has plenty of room for growthgiven enormous potential in the over-the-counter and equitisationsegments. The current stock market rally reflects an on-going recoveryin the economy and corporate earnings,” said VAM general directorNguyen Xuan Minh./.
With its first two days in HCM City and a final day in Hanoi , thefirst-ever event gathered around 100 foreign investors from around theworld for an opportunity to meet with the CEOs and CFOs of 40 listedcompanies.
Represented companies were drawn from such sectors as retail,petroleum, tourism, pharmaceuticals, telecommunications, banking andfinance, rubber and industrial park management.
“Vietnam is Asia’s rising star and is attracting investors fromaround the globe, thanks to a budding export sector and fast-expandingconsumer market which makes the country’s growth rate one of theregion’s most exciting,” said Teo Chang Seng, acting CEO and executivedirector of HLG Unit Trust Bhd, which manages an equity and growthfund, the HLG Vietnam Fund, launched in February 2008.
Conference organiser Jaccar launched its first Vietnam investment fund,the closed-end 150 million USD Jaccar Capital Fund, in 2006, andanother, the 100 million USD Vietnam Century Fund, in 2008.
It also manages the open-end Vietnam Opportunity Growth (VOG) fund, started with about 20 million USD in 2007.
Jaccar CEO Jacques de Chateauvieux said market liquidity in Vietnam hasimproved recently and he would consider enlarging the VOG fund onceliquidity is stronger. Jaccar has also invested directly in a number ofVietnamese companies.
Speaking during the HCM City leg of the conference, State SecuritiesCommission vice chairman Nguyen Doan Hung said that foreign investmentin Vietnam ’s stock market remained low compared to other regionalmarkets.
He said that his commission and relevant authorities are making changesin the legal framework to boost market growth, including granting morepermits for open-ended funds, already popular on other markets.
The commission is also completing regulations on margin and repotrading for submission to the Ministry of Finance for final approval,Hung said.
Last week, the Vietnam Asset Management (VAM) and Malaysia ’s HLG UnitTrust Bhd launched their Invest in Vietnam campaign with road shows inseveral cities across Malaysia .
“The Vietnam equity market still has plenty of room for growthgiven enormous potential in the over-the-counter and equitisationsegments. The current stock market rally reflects an on-going recoveryin the economy and corporate earnings,” said VAM general directorNguyen Xuan Minh./.
