The investment universe for the VCBF Blue Chip Fund will comprise of large-cap companies with a market capitalisation larger than the hundredth largest stock listed on the Ho Chi Minh City Stock Exchange (HSX).
The fund will blend value and growth styles of investing and benchmark its performance against the VN100 Index.
Investors can make applications to the scheme with a minimum of VND5m ($235, £140) with additional investments of VND1m. The scheme is open for initial subscription from 22 June until 25 July.
A subscription fee of 2% is charged for investments in the range of VND1m to VND500m. For subscription of more than VND500m to VND1bn, the subscription fee will be levied at 1.5%.
A redemption fee will be charged at 3% for redemption within a month, 1% for withdrawals after one month until one year while the fee would be levied at 0.5% for investors exiting from the fund after one year until two years. No fees will be charged to investors for redemption after two years.
The State Securities Commission of Vietnam approved the Bluechip Fund on 12 May.
In October last year, the fund house launched the first balanced fund in Vietnam.
Vietcombank Fund Management is a joint venture that was established between Vietcombank and Franklin Templeton Investments in 2005. Vietcombank, the fourth largest banking group in Vietnam in terms of total assets, holds a 51% stake in the fund while the rest is owned by Franklin Templeton Investments.
Franklin Templeton first announced its intention to launch a series of mutual funds with VCBF in November 2011. Click here to see the story.
