The Taiwanese Jih Sun Securities Investment Trust is entering the Vietnamese market via VinaCapital Fund Management JSC on a newly launched fund – the Jih Sun Vietnam Opportunity Fund (JSVOF).
In its statement released on February 15, VinaCapital stated that in its initial public offering, which ended on January 19, JSVOF raised $143 million. JSVOF’s custodian is Taiwan Cooperative Bank, ranked as one of the top three banks in Taiwan, according to The Banker
|More people around the world are becoming aware of Vietnam’s compelling economic growth and are eager to find ways to participate in this market |
According to Richard Kao, CIO of Jih Sun, Taiwanese people have long heard about the enormous growth that has been occurring in Vietnam over the past few years.
“With a young population, a growing middle class, steady inflows of foreign investment, growing exports, and a stable macro-economy, Vietnam is well-positioned for robust economic growth in the coming years. In 2022, GDP growth could reach 7 per cent or more,” said Kao.
Vietnam’s potential is something Taiwanese companies have known for several years now. But until very recently, Taiwanese retail investors have had few options to participate in the growth of Vietnam's dynamic market, which is what prompted Jih Sun to launch JSVOF.
"We believe Vietnam’s post-COVID reopening this year should offer a relatively good market timing to launch the Taiwan-domiciled public fund JSVOF," Kao added.
“In a new, developing market like Vietnam, it is important to have a trusted partner, and we are pleased to be working with VinaCapital, which is one of the country’s most experienced investment management companies. Jih Sun completed a comprehensive peer analysis, followed by a rigid advisory selection on local managers. We selected VinaCapital to be JSVOF’s investment advisor mainly because the firm has had deep experience in local asset management for decades with fruitful returns in mutual funds and mandates. For over 18 years, they have built a successful track record of investing across asset classes, and today manage assets of $3.9 billion. We look forward to working with them to deliver strong returns to our investors,” said Kao.
Brook Taylor, CEO of VinaCapital Fund Management said, “More people around the world are becoming aware of Vietnam’s compelling economic growth story and are eager to find ways to participate in it. We are honoured to partner with Jih Sun to help its clients do just that. With industry-leading professional investment and in-house research teams, VinaCapital is the ideal partner for overseas asset management firms evaluating ways to access the Vietnamese market for the benefit of their clients. We always welcome more investment into the country and are ready to assist foreign investors interested in doing so.”