CGS-CIMB Securities launches Vietnam-focused ETF on Singapore bourse

CGS-CIMB Securities, in collaboration with Fullgoal Asset Management Hong Kong, inaugurated Friday on the Singapore Exchange (SGX) an exchange-traded fund (ETF) comprising the largest companies listed on the Ho Chi Minh Stock Exchange.

The new fund, the first Vietnam-focused ETF on the SGX, raised about S$35 million ($25.8 million) on the launching day, the Singapore broker said.

“It gives us great cause for optimism toward connecting unparalleled investment opportunities in Vietnam with investors seeking higher and stable returns,” the securities firm noted.

The CGS Fullgoal Vietnam 30 Sector Cap ETF replicates the performance of the SGX iEdge Vietnam 30 Sector Cap, which is overweight on sectors like real estate, financials and consumer staples. Companies in the ETF include Vinhomes, Hoa Phat Group, and SSI Securities, a leading Vietnamese broker.

“Vietnam’s growth story is one that cannot be ignored. Forward-thinking investors should recognize its immense potential and diverse array of opportunities,” said Carol Fong, group CEO of CGS-CIMB Securities, which acts as the ETF’s investment manager and broker.

Fullgoal Asset Management Hong Kong, a subsidiary of Shanghai-based Fullgoal Fund Management Company, is the ETF’s investment advisor.

CGS-CIMB is a joint venture between China Galaxy International Financial Holdings, a wholly owned subsidiary of China Galaxy Securities, and Malaysian bank CIMB Group.