This open-ended fund, which invests in high quality short-term fixed income securities and money market instruments, enables investors to generate stable returns while maintaining the flexibility of daily liquidity.
VLBF's current expected return of up to 4.4 percent per annum is significantly higher than current three-month term bank deposit rates and the less than one percent per annum that can be expected from bank current accounts. This makes it ideally suited to individual and corporate investors seeking higher returns on their cash holdings. The fund offers daily liquidity, with no lock-in period. Additionally, investors can access VinaCapital's MiO website and mobile app to manage their portfolios anywhere and anytime. BIDV is the supervisor and administrator of VLBF. The fund's first trading date will be 16 September 2021.
Brook Taylor, CEO of VinaCapital Fund Management, commented, "VLBF is a great example of how VinaCapital is committed to delivering products that are innovative and meet the changing needs of its clients. In the current low interest rate environment, individuals and businesses are looking for higher returns from their cash holdings. VLBF does this by being the first mutual fund in Vietnam that has all the characteristics of money market funds used widely in other countries. With no minimum investment, low management fees and no subscription or redemption fees, and the ability to move money online, the launch of VLBF is an exciting addition to the growing number of investment products available to investors in Vietnam."
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