MBCapital to launch stock fund

VNStockNews.com - MBCapital Management Joint Stock Company, whose former name was Hanoi Fund Management Joint Stock Company, expects to launch a VND300-billion securities investment fund in the middle of next year, an executive said.

Nguyen Hai Ha, chief investment officer of the company, told the Daily that the new fund would aim to invest in pre-listed small and medium enterprises.

“We have yet decided what sectors as priorities to invest in but the new fund will aim at sectors having high and sustainable growth,” he added.

The fund manager will mobilize capital from corporate customers of Military Bank, which is the mother of MBCapital, to serve their purpose of long-term investment.

Established in November 2006, the fund manager was named Hanoi Fund Management Joint Stock Company, but it has decided to change its name to MBCapital since last Friday.

It now manages two member funds contributed by corporations, finance companies, and banks. MBCapital also manages portfolios of Vietnam Equity Holding fund which is capitalized at US$80 million and is listed on the Frankfurt Stock Exchange.

By late September, MBCapital managed total assets of VND8.6 trillion.

Phan Anh, CEO of the fund manager, said in a statement that MBCapital would cooperate with Military Bank to launch products combining investment and saving that aimed at individual customers of the bank.