An exchange-traded fund operated by the Vietnam branch of South Korea‘s leading asset management firm Mirae Asset Global made a market debut in the Southeast Asian country‘s stock market, the company said on Dec. 9.
The so-called Mirae Asset VN30 Exchange Traded Fund is designed to invest in 30 blue-chip Vietnamese companies, including Vingroup Joint Stock Company, Vietcombank and Vinamilk. Its shares account 76 percent of the total market capitalization of the nation’s publicly traded companies, as of November, officials said.?
(From left) Kang Moon-Kyung, general director of Mirae Asset Daewoo‘s Vietnam branch, Seol Kyung-suk, representative of Mirae Asset financial group Vietnam, Soh Jin-wook, CEO of Mirae Asset (Vietnam) Fund Management Co., Nguyen Vu Quang Trung, head of Ho Chi Minh City Stock Exchange, Shin Dong-min, head of Shinhan Vietnam Bank -- a Vietnam-based Korean trust bank for ETF investments -- and Khamsaya Soukhavong, CEO of Mirae Asset Prevoir Life Insurance Company pose for a photo during an event to celebrate the launch of Mirae Asset VN30 Exchange Traded Fund on the Ho Chi Minh City Stock Exchange. (Ho Chi Minh City Stock Exchange)
South Korean retail investors are also able to invest in the Vietnam-based ETF through domestic brokerage firms operating foreign stock trading services, such as Mirae Asset Daewoo.
“Mirae Asset Global Investments (Vietnam) will expand its foothold in the Vietnam market by securing stable track records and raising brand awareness. Meanwhile, the company is planning to offer investment advisory service to Korean investors seeking opportunities in the stock market in Vietnam,” said Soh Jin-wook, CEO of Mirae Asset (Vietnam) Fund Management Co.
Mirae Asset Global Investments established an asset management firm in Hanoi, Vietnam in 2018, becoming the nation’s first asset manager to set up a legal foreign entity in the Southeast Asian country. Currently, it is managing more than 390 ETFs worth almost 54 trillion won ($49.7 billion) across 10 major economies, including the US, Canada and Hong Kong, the company said.
By Choi Jae-hee (email@example.com)