[ad_1]
VIETNAM – UOB Asset Management Ltd (UOBAM) announced that it has completed the acquisition of VAM Vietnam Fund Management Joint Stock Company (VAM VN), to be renamed UOB Asset Management (Vietnam) Fund Management Joint Stock Company.
Founded in 2009, VAM VN has provided investment management advice and services to institutional and individual investors through solutions such as corporate structured funds and segregated accounts.
With Vietnam’s latest addition to its regional network, UOBAM now has a presence in nine markets in Asia, namely Brunei, mainland China, Indonesia, Japan, Malaysia, Singapore, Taiwan, Thailand and Vietnam.
Vietnam’s strong economic growth, young population, and supportive regulatory environment are conducive to the local asset management industry to flourish.
According to UOBAM’s analysis, the country’s land-based mutual funds posted a compound annual growth rate of more than 75 percent in assets under management from 2016 to the end of September 2020.
“Vietnam is a rising star in ASEAN and we are pleased to bring our suite of fund solutions to local institutional and individual investors. The expertise of our new Vietnam office will also complement our broader strategies in ASEAN equity and bond funds and investment mandates, enriching our product offering for investors and creating more opportunities for collaboration with partners across Asia. ” said Thio Boon Kiat, UOBAM Group Executive Director
By integrating VAM VN into its regional network, UOBAM will provide knowledge transfer in areas such as sustainable investments, smart beta and multi-asset strategies, as well as sharing best practices in front, middle and back-office functions.
These include the adoption of technologies, such as data analytics and artificial intelligence, into operational processes and product distribution channels to meet the needs of Vietnam’s tech-savvy investors.
Thieu Thi Nhat Le, CEO of UOBAM’s new Vietnam subsidiary VAM VN, said: “Our goal is to become one of the leading asset management firms in Vietnam in the next five years. Backed by the strong reputation and track record of UOBAM and UOB Group, we will enhance our investment capabilities to better serve the growing needs of Vietnam investors. We are also committed to developing local talent and, in turn, we contribute to the advancement of the country’s asset management industry ”. – BusinessNewsAsia.com
