VinaCapital Ties up with Shinhan to Lure Korean Stock Traders

Tuan Minh

11:00 25/08/2016

BizLIVE - VinaCapital and Shinhan BNP Paribas have teamed up to bring more South Korean investors to the Vietnamese stock market.

VinaCapital Ties up with Shinhan to Lure Korean Stock Traders

An investor looks at an electronic board screen at a securities company in Hanoi. Photo: VOA

VinaCapital Group, among the top asset management companies in Vietnam, has partnered with Shinhan BNP Paribas Asset Management (Shinhan) to provide investment products to Shinhan’s clients in Korea, enabling them to get involved in Vietnam’s rising stock market.
The two companies will jointly develop funds invested in Vietnamese assets for Korean investors as well as introduce Shinhan’s products to the Vietnamese market.
They plans to launch the VIP Equity Fund, which will invest in publicly traded Vietnamese companies as well as those in Indonesia and the Philippines, next month.
VinaCapital and Shinhan will work together to develop a Vietnamese multi-asset fund which invests in equities, fixed income, real estate and other assets.
Korean companies have been among the largest investors in Vietnam, spending billions of dollars to build and expand their operations, and have been an important driver of the country’s recent economic growth, said VinaCapital CEO Don Lam.
VinaCapital now oversees a diversified portfolio of $1.4 billion. It has three closed-ended funds that trade on the London Stock Exchange. It funds cover a wide range of asset classes including capital markets, private equity, venture capital, real estate and fixed income.
Shinhan BNP Paribas Asset Management is a joint venture between South Korean financial group Shinhan and France’s BNP Paribas. It has $34 billion worth of assets under management.
According to data of the State Securities Commission, foreign investors injected a net $722 million into Vietnamese stocks in the first half of this year, more than tripling the figure in the same period of last year.
Securities holdings by overseas traders have topped $16 billion, the highest ever since the local stock market was launched in 2000.