Korea Investment Management (KIM) acquires Vietnamese fund manager
Korea Investment Management (KIM) acquires Vietnamese fund manager
Korea Investment Management has been approved to acquire all of the shares issued by local Hung Viet Fund Management JSC.
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The Chairman of the State Securities Commission (SSC) has recently issued Decision No.89/QD-UBCK dated February 11, 2020 approving the transaction of Hung Viet Fund Management JSC's shares.
Accordingly, all shareholders of Hung Viet Fund Management JSC transferred altogether 2.5 million shares, equivalent to 100 per cent of its charter capital, to Korea Investment Management Co., Ltd. (KIM – 99 per cent) and two foreign individual shareholders, Yun Hang Jin and An Jong Hoon (0.5 per cent each)
KIM is a familiar name in Vietnam’s securities market with assets under management in the scale of billions of dollars. KIM Vietnam Growth Securities Master Investment Trust is KIM’s biggest fund in Vietnam with assets under management of $850 million.
In the beginning of 2018, Vietnam's securities market witnessed a surge in foreign capital inflows from Korea, with KIM taking the spotlight. Besides investing in bluechip stocks, KIM also has a number of VFMVN30 ETF fund certificates.
By Thanh Van
