SSIAM VNFIN exchange-traded fund set to list on HCM City stock market

Update: March, 16/2020 - 10:39


The list of 12 stocks in the VNFIN LEAD Index. — Source HOSE

HCM CITY — SSI Asset Management Co Ltd has announced that its SSIAM VNFIN LEAD ETF will be listed on the Hồ Chí Minh City Stock Exchange on March 18.

The ETF was established late last year based on the Vietnam Leading Financial Index.

It is the first exchange-traded fund to track one of the three new indices launched last year by HOSE and the first to target the largest stocks in the financial sector.

It has been established by the SSI Securities Corporation, Mirae Asset Securities Company Limited (Vietnam), Viet Capital Securities JSC, and BIDV Securities JSC, and managed by SSIAM.

Vietcombank will be the supervisory bank.

The fund held an IPO from December 24 to January 15 and mobilised VNĐ262 billion (US$11.3 million).

It will invest in all or almost all of the stocks in the VNFIN LEAD stock basket.

According to SSIAM, the financial sector is one of the two largest in the VN-Index, accounting for 27-30 per cent of total market capitalisation.

Nguyễn Minh Hạnh, managing director of the ETF fund at SSIAM, said ETFs that track the financial index are highly attractive to foreign investors.

“From the end of January 2020, the stock market has entered a period of decline due to the adverse effects of the Covid-19 pandemic, making it more difficult to raise capital.

“However, these will only be short-term difficulties, because in general investment channels in ETFs will still be the main channel to mobilise foreign capital for the Vietnamese market now and in future.” — VNS