News

Only 20% of Vietnam’s fund managers profitable

Old_Vietnamese_coinsDespite a 20% increase in assets under management, only one in five of Vietnam’s fund managers are profitable, according to statistics from the State Securities Commission (SSC). The SSC vice chairman Pham Hong Son told local newspaper Vietnam News that the industry’s assets grew to $13.4 billion in 2019 but just ten out of 47 of the country’s fund managers are “making a profit and expanding in the market”. Son added that the SSC is planning to tighten the licensing process for new companies and introduce new operating rules for existing companies in an effort grow the country’s funds market. This would help Vietnamese fund managers “meet international standards and practices and keep the local equity market developing in a sustainable and secure manner”, said Son. Meanwhile, one of Vietnam’s profitable fund managers, SSI Asset Management Company (SSIAM) has signed a memorandum of understanding with South Korea-based NH-Amundi Asset Management which will see the former’s funds products promoted in South Korea. “Vietnam is the fastest growing country in the emerging markets. However, there are still limited ways to invest in the Vietnamese market,” said chief executive of NH-Amundi Young-hoon Bae. “With the MoU, NH-Amundi will develop various products to provide Korean investors with opportunities to invest in the market,” he said. ©2020 funds global asia

Sponsored Profiles

Sponsored feature: How is DLT changing the global securities services landscape?

Oct 17, 2019

By Jeslyn Tan, global head of product management, securities services, at Deutsche Bank

Sponsored feature: A new base for fund distribution

Oct 16, 2019

To get the most value out of the digitisation of investment fund distribution, a blockchain-based infrastructure is fundamental. By Olivier Portenseigne, Managing Director and Chief Commercial Officer, Fundsquare.

Sponsored profile: Bridging the gap

Mar 11, 2019

Private equity is a core part of the business for Caceis’ Hong Kong office, which looks after clients in China and Europe. David Li, chief executive officer, explains why private equity enjoys strong client demand and how it is being used to fund China’s international infrastructure ambitions.

SPONSORED FEATURE: Market knowledge key to fund distribution in Asia

Jan 11, 2019

The highly fragmented investment markets in the Asia-Pacific region require detailed knowledge of each market’s unique characteristics and framework. By Lou Kiesch, Partner, and Marc Noirhomme, Director, at Deloitte Luxembourg.

Executive Interviews

Executive interview: ‘Bull markets don’t die of old age’

Dec 12, 2019

Having a balanced portfolio in the midst of the longest expansion in history is an investment imperative, Chris Alderson, co-head of global equity and head of international equity at T Rowe Price...

Executive interview: Timing the market

Oct 17, 2019

Amy Cho, Schroders’ Hong Kong chief executive and regional head of intermediary clients, tells Romil Patel about Hongkongers’ love of investing, staying nimble in a volatile market and following...

Roundtables

Singapore roundtable: A horizon to hold long-term assets

Dec 12, 2019

Panellists discuss the geopolitical fractures concerning asset owners, Singapore as a hub for fintech start-ups and why it makes sense to raise capital from a Variable Capital Company (VCC). Chaired by Romil Patel in Singapore.

Roundtable: Priming for Asia’s growth

Oct 17, 2019

Panellists discuss expanding product capability across Asia-Pacific, the opportunities and regulatory challenges around data and the prospects for ETFs in the region. Chaired by Romil Patel in Hong Kong.