BNP Paribas Securities Services has supported the successful launch of the first UCITS-compliant, actively managed Vietnam equity fund.
The fund is managed by Dragon Capital, which is one of the largest fund managers in the IndoChina market with around $1 billion in assets under management. Launched in September, it is the first actively managed UCITS-compliant equity fund that opens Vietnam’s blue-chip companies to global investment.
Dominic Scriven, Dragon Capital’s CEO, said: “This is an exciting time for the fast growing IndoChina region. Our strategy for aggressive regional and international expansion is possible because we work with partners like BNP Paribas who provide us with the essential support, scalability and flexibility that suit our ongoing growth plans.”
Following a competitive tender, BNP Paribas Securities Services designed and rolled-out a tailor-made fund solution including global custody, fund accounting, transfer agency and trustee services, for Dragon Capital’s Vietnam fund.
The investment objective of the Dublin- domiciled fund is to seek medium- to long-term capital appreciation of its assets.
Mostapha Tahiri, head of BNP Paribas Securities Services Singapore, who is also the bank’s Asia head of asset and fund services, said: “[Dragon Capital’s] fund distributors will benefit from consistent service and fast turnaround time from our local client support team and global specialists who understand the needs of Asian fund managers. We look forward to helping Dragon Capital grow their assets as they expand around the region and then to Europe.”
