Two come together to develop Vietnamese funds for South Korean investors.
VinaCapital has announced it is partnering with the Shinhan BNP Paribas Asset Management (Shinhan) to provide investment products to Shinhan’s clients in South Korea, enabling them to participate in Vietnam’s growing economy.
The two companies signed a memorandum of understanding on August 22 that outlines how they will cooperate to develop funds invested in Vietnamese assets for South Korean investors as well as introduce Shinhan’s products to the Vietnamese market in the future.
VinaCapital’s first engagement with Shinhan is a delegated investment management mandate for one of Shinhan’s South Korea-domiciled funds.
The two companies will also work together to launch the VIP Equity Fund, which will invest in publicly-traded Vietnamese companies as well as those in Indonesia and the Philippines. The fund is expected to launch in September.
In the future VinaCapital and Shinhan will also work together to develop a Vietnamese multi-asset fund investing in equities, fixed income, real estate and other assets, leveraging the long-standing success of VinaCapital’s Vietnam Opportunity Fund.
Mr. Don Lam, VinaCapital CEO, said that South Korean companies have been among the largest investors in Vietnam, spending billions of dollars on building and expanding their operations and have been an important driver of the country’s recent economic growth.
“We are excited to work with Shinhan, one of South Korea’s leading and well-respected financial service firms and we look forward to offering their clients a way to access this and other dynamic markets in the region,” said Mr. Lam.
Shinhan BNP Paribas Asset Management was established as a joint venture in 2002 between BNP Paribas and the Shinhan Financial Group, South Korea’s leading financial services firm.
Shinhan BNP Paribas provides institutional clients with the most advanced and dedicated market expertise in asset management today, blending excellence in client services with innovative investment solutions.
VinaCapital is a leading investment and asset management firm headquartered in Vietnam, with a diversified portfolio of $1.4 billion in assets under management. The firm has three closed-ended funds that trade on the London Stock Exchange: the VinaCapital Vietnam Opportunity Fund Limited, which trades on the Main Market, as well as VinaLand Limited and Vietnam Infrastructure Limited.