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Vietcombank Fund Management closes member fund

Update: February, 02/2015 - 07:55

HA NOI (VNS) — Vietcombank Fund Management Co (VCBF) has completed the closure of its member fund, Vietcombank Securities Investment Fund No 1 (VPF1), the State Securities Commission has announced.

VPF1, set up in 2005, has a charter capital of VND200 billion (US$9.3 million). This is the last of the three close-ended fund managed by Vietcombank Fund Management. VPF2 was closed in 2011 while VPF3 was liquefied in May 2014.

VCBF is a joint venture between Vietcombank (VCB) and Franklin Templeton Investment Management Co. It manages two open-ended funds: VCBF Tactical Balanced Fund (VCBF-TBF), which manages assets of VND77 billion ($3.6 million); and VCBF Blue Chip Fund (VCBF-BCF) which has a management portfolio of VND72 billion ($3.4 million). — VNS

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