VinaCapital is helping boost foreign investment in Vietnam's stock market. Photo: Internet
, which oversees some $1.4 billion in assets in Vietnam, plans to establish the VinaCapital Special Access Fund (VSAF) next months to help foreign investors diversify their securities portfolios.
VSAF will invest in shares of Unlisted Public Company Market (UPCoM), which now houses 350 companies, compared to 150 in 2014, and has driven larger attention of investors.
The UPCoM was launched in June 24, 2009 and is operated by the Hanoi Stock Exchange. This is the trading floor of stocks and convertible bonds of public companies which have not been listed on the two exchanges.
The new fund will invest in companies with market cap of below $50 million and the initial size of each investment will be $5 million or higher.
VinaCapital Vietnam Opportunity Fund (VOF), the largest fund run by VinaCapital, has been successful with investments in private equity (PE) and OTC companies in Vietnam. Its average return on PE investments has stayed at 21.3% over the past five years and 25.9% over the last three years.