CGS-CIMB Securities on Friday (Aug 25) launched a new Vietnam-focused exchange-traded fund (ETF) on the Singapore Exchange (SGX), with Fullgoal Asset Management (HK) as investment adviser.

The fund, named the CGS Fullgoal Vietnam 30 Sector Cap ETF, references the SGX iEdge Vietnam 30 Sector Cap, which tracks the performance of the top 30 largest and most liquid Vietnam-listed companies by market capitalisation. 

It comprises companies such as Vietnam’s biggest listed property player Vinhomes, industrial machinery manufacturer Hoa Phat Group, and financial investment services provider SSI Securities.

The ETF, which offers dual currency trading in US dollars and Singapore dollars, has raised about S$35 million at launch.

SGX Group’s senior managing director and head of equities Michael Syn said that there is a rising tide of investor interest in Vietnam’s equity markets. 

“Vietnam stands as a beacon of growth and opportunity, and offers investors promising returns with its equity market capitalisation expanding by almost six times in size over the last decade.”

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CGS-CIMB Securities’ group CEO Carol Fong said: “Vietnam’s growth story is one that cannot be ignored. Forward-thinking investors should recognise its immense potential and diverse array of opportunities.”

BNP Paribas is the trustee and custodian of the fund. Phillip Securities is a participating dealer. (see amendment note)

Amendment note: The article has been amended to reflect the correct list of participating dealers.