[Asia Economy Reporter Kwon Jae-hee] Korea Investment Trust Management, the first domestic asset management company to launch a Vietnam fund, announced on the 31st that it will conduct the 'Revisit Vietnam' promotion.
Vietnam has been recording steady high growth, supported by domestic demand growth and an increase in foreign direct investment (FDI), to the extent that it is considered the 'post-China.' According to the Vietnam General Statistics Office and the IMF, last year's economic growth rate was 8%, and this year is also expected to see high growth of 7%. This is more than double the global economic growth rate of 3.2% last year.
Accordingly, Korea Investment Trust Management plans to highlight Vietnam's investment attractiveness and actively promote the Vietnam funds it has launched.
As the first step, on the 26th, it released a teaser video titled 'Revisiting Vietnam, Why Should We Focus on Vietnam Again?' on its official YouTube channel.
Korea Investment Trust Management plans to sequentially release weekly Vietnam series videos starting with this teaser video. The content features appearances by writer Yoo Young-guk, Dr. Kim Ji-yoon, senior researcher Lee So-yeon of Korea Investment & Securities, economist reporter Lee Chang-hoon, as well as President Bae Jae-gyu of Korea Investment Trust Management himself, who lent his support to the promotion. The program is hosted by announcer Lee Geum-hee.
In the video, President Bae explained the reasons to refocus on the Vietnam market, saying, "Until 2008, the stock market capitalization was about 14 trillion won, but it has grown to 270 trillion won now, indicating that Vietnam's capital market structure has matured. We believe that the aftermath of the US-China conflict will bring more benefits to the Vietnamese economy."
He added, "Since Korea Investment Trust Management first introduced the Vietnam fund in 2006, as of 2023, the Vietnam funds launched domestically amount to about 1.8 trillion won (net asset value of 1.8511 trillion won as of the 30th, according to FnGuide), and among these, the exchange-traded funds (ETFs) are managed only by our company."
In addition, Korea Investment Trust Management plans trading events for individual investors involving the ‘ACE Vietnam VN30 (Synthetic) ETF’ and the ‘ACE Vietnam VN30 Futures Bloomberg Leverage (H) ETF,’ as well as investment seminars for institutional investors.
The trading events will be conducted through multiple securities firms including Daishin Securities (January 30 to March 31), Korea Investment & Securities, Eugene Investment & Securities (both from February 1 to March 31), and Kiwoom Securities (February 3 to March 31). Meritz Securities will hold a trading event for its domestic stock contract for difference (CFD) customers from February 6 to March 31. For detailed information about the trading events, please contact each securities firm.
The Vietnam investment seminar will be held in February, with Lee Joon-sang, head of the Vietnam branch, attending to provide insights on the Vietnam market outlook and explanations about Korea Investment Trust Management’s Vietnam funds.
Meanwhile, Korea Investment Trust Management opened a local office in Ho Chi Minh City, Vietnam, in 2006, becoming the first domestic asset management company to do so, and started Vietnam research operations. In the same year, it launched the country’s first Vietnam fund, the ‘Korea Investment Vietnam Fund.’ In June 2020, it converted the local office into a corporation and began full-scale Vietnam business. Currently, the Vietnam local corporation has about 30 staff members (as of the end of 2022), including more than 15 Vietnam-specialized asset management and research personnel.
The Vietnam funds launched by Korea Investment Trust Management in the domestic market (based on net asset value as of the 30th) include six funds: the Korea Investment Vietnam Fund (234.7 billion won), Korea Investment Vietnam Growth Fund (670.6 billion won), Korea Investment Vietnam IPO Fund (11.7 billion won), Korea Investment China Vietnam Fund (39.9 billion won), ACE Vietnam VN30 ETF (153.3 billion won), and ACE Vietnam VN30 Futures Bloomberg Leverage ETF (5.9 billion won). These represent the largest net asset value of Vietnam funds among domestic asset management companies.
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