Seoul-based NH-Amundi Asset Management and Ho Chi Minh City-based SSI Asset Management have agreed to partner to develop products that track benchmark indexes in the Vietnamese stock market, according to NH-Amundi on Tuesday.
NH-Amundi Asset Management Chief Executive Bae Young-hoon (left) and SSIAM Chief Executive Le Thi Le Hang pose for a photo at a signing ceremony on Monday. (NH-Amundi Asset Management)
On Monday, they signed a memorandum of understanding guaranteeing an exclusive partnership to launch new financial instruments that track indexes of blue-chip companies, including the VN50 listed on the Hanoi Stock Exchange and VN30 that seeks listing on the Ho Chi Minh Stock Exchange.
The two entities are awaiting a listing of a new financials exchange-traded fund by February, a NH-Amundi spokesperson said.
Under the partnership, NH-Amundi may opt to create a Vietnam-focused fund, in addition to a fund that is 1.5 times leveraged and tracks the VN30 index, launched in May 2019.
“The MOU will offer Korean investors a wider variety of options to invest in Vietnamese stock market,” said NH-Amundi Chief Executive Bae Young-hoon in a statement.
NH-Amundi is a 70:30 joint venture of NH Financial Group and French investment firm Amundi. SSI Asset Management is wholly owned by Saigon Securities, the largest brokerage house in the domestic market.
By Son Ji-hyoung (email@example.com