SSC approves two more investment funds

posted 20 Sept 2015, 19:18 by Unknown user
Source: Saigon Times - 9/19/2015 3:25:37 PM

The State Securities Commission of Vietnam (SSC) has allowed Techcom Capital to set up Techcom Equity Fund (TCEF) and Techcom Bond Fund (TCBF) with initial chartered capital of over VND60 billion (US$2.6 million).

Techcom Capital is wholly owned by the Vietnam Technological and Commercial Joint Stock Bank (Techcombank).

According to Techcom Capital, TCEF and TCBF are open-ended funds and their fund certificates have the face value of VND100,000 each. Standard Chartered Vietnam is the supervisory bank of the funds.

TCEF will invest in leading enterprises in a sector or those having potential to become large in addition to businesses with great growth potential in the long run and expected to bring in high profit for investors and large caps.

TCBF will buy Government bonds and corporate bonds issued by prestigious enterprises or guaranteed by well-known banks.

Dang Luu Dung, chief executive officer of Techcom Capital, said the establishment of TCEF and TCBF will provide investors, especially individuals, with more investment options. He added the enterprise pledges to support investors to realize their finance and investment plans.

The establishment of the two funds is in line with the latest developments of the local market as experts said foreign investors have paid more attention to Vietnam’s stock markets.