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VietNamNews

VCBF Blue Chip Fund kicks off IPO

Update: June, 17/2014 - 09:29
Photo thitruongtaichinh

HCM CITY (VNS)  — The initial public offering of Vietcombank Fund Management's VCBF Blue Chip Fund opened last Thursday and will end on July 25.

VCBF–BCF is the first open-ended equity fund from the joint venture between Vietcombank and Franklin Templeton Investments, a leading global fund management company.

The fund will invest in listed shares with large market capitalisation and high liquidity.

It is benchmarked against the VN100 Index, which comprises the top 100 stocks in terms of market cap on the HCM City Stock Exchange.

VCBF Blue Chip Fund focuses on generating long-term returns from investments and should be attractive for all types of investors with an investment horizon of three to five years or more.

Avinash Satwalekar, CEO of VCBF, said: "We believe the underlying economic fundamentals of Vietnam continue to improve and are positive on its long-term prospects and ability to deliver value."

Investors have to buy units worth a minimum of VND5 million (US$238) and increments of VND1 million ($48).

Deutsche Bank AG's HCM City branch will provide the supervisory, custodial, transfer, and fund administration services for the fund. Vietcombank owns 51 per cent in VCBF. — VNS


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