KIM Growth VN Diamond ETF certificate officially listed - Opening more investment opportunities for domestic and foreign investors to access the Vietnamese stock market.
On April 24, 2024, Ho Chi Minh City Stock Exchange (HoSE) officially listed 5,100,000 fund certificates of KIM Growth VN Diamond ETF (Stock code FUEKIVND) for trading with a total listed securities value of VND 51,000,000,000 (calculated at par value).
The reference price on the first trading day is VND 10,984.88 with a price fluctuation range of 20% compared to the reference price.
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| KIM Growth VN ETF certificate officially listed on HoSE on April 24 |
The VN Diamond Index, launched on November 18, 2019, is an important index reflecting the fluctuations of 18 Vietnamese Diamond stocks. The biggest difference between the VN Diamond Index and other indexes comes from the FOL (Foreign Ownership Limit) coefficient, reflecting the ratio of foreign investors' shares holding compared to their share holding limit ratio.
Up to now, the capitalization scale of the VN Diamond index has reached more than 50 billion USD, accounting for 1/3 of the total market size. The stocks in the VN Diamond index are almost full of foreign room, foreign investors will find it very difficult to own these attractive stocks. Therefore, the establishment of ETF funds simulating the VN Diamond index will help foreign investors have the opportunity to buy more of the above stocks in a different form. Domestic investors will also have another potential investment option from these ETF funds.
Currently, the VN Diamond index is used as a reference for the KIM Growth VN Diamond ETF Fund of KIM Vietnam Fund Management Company Limited (KIM).
According to Mr. Yun Hang Jin, Chairman of the Board of Members of KIM, "We have full confidence in the development of the Vietnamese financial market and believe that Vietnam will soon be upgraded from a frontier market to a secondary emerging market. The decision to establish the KIM Growth VN Diamond ETF Fund is part of the preparation to welcome foreign capital back to the Vietnamese market, especially investment capital from the Korean market."
KIM was established with 100% ownership of the parent company - Korea Investment Management Co., Ltd - one of the leading asset management companies in Korea with an asset management scale of more than 35 billion USD as of March 31, 2024. In Vietnam, KIM is also one of the companies with the largest asset management scale with an asset scale of 1.3 billion USD as of March 31, 2024.
After nearly 18 years of operating in Vietnam, in addition to active investment funds, KIM Vietnam is focusing on promoting the development of index investment fund products. KIM Growth VNDiamond ETF is the third ETF of KIM Vietnam after KIM Growth VN30 ETF and KIM VNFinselect ETF, listed on the Ho Chi Minh City Stock Exchange in 2022.
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