SSI asset management to IPO new fund by end of June

Source: VNA

20:05 | 24/05/2020 Finance Follow english.haiquanonline.com.vn on

SSI Asset Management Co Ltd SSIAM will launch an IPO for its exchange traded fund ETF SSIAM VN30 between May 26 and June 29

ssi asset management to ipo new fund by end of june

A trading session at SSI Securities Corp (SSI). (Photo tinnhanhchungkhoan.vn)

The new fund mimics the movement of the large-cap tracker VN30-Index, which contains the 30 largest stocks by market value and trading liquidity on the Ho Chi Minh City Stock Exchange (HoSE).

The initial value of the fund is estimated at VND50 billion (US$2.13 million).

SSIAM gained approval from the State Securities Commission for the IPO on May 22.

SSI Securities (SSI), Mirae Asset Vietnam Securities and BIDV Securities are the managers of the fund, while the supervisor is the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank).

The ETF will be listed on HoSE following the offering.

SSIAM VN30 ETF is the second fund that tracks the large-cap VN30-Index. The first is the VFMVN30 ETF managed by VietFund Management (VFM) with a total value of VND6 trillion (US$255.75 million).

According to SSIAM, the 30 stocks in the VN30 basket account for 73.4% of total market capitalisation. Those stocks are also leading companies in their sectors.

The new fund is expected to become a good-quality and low-cost option for investors. It will help increase capital flowing into investment funds and make investors pay more attention to fund certificates in addition to buying stocks.

On March 18, SSIAM’s exchange-traded fund SSIAM VNFIN LEAD debuted on HoSE.

Source: VNA

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SSI IPO ETF SSIAM VN30

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