Principal Malaysia today announced the launch of the Principal Vietnam Equity Fund for investors seeking to capitalise on the immense growth potential of the Vietnamese economy. The Fund aims to achieve long-term capital appreciation through investments in one collective investment scheme.
Munirah Khairuddin, chief executive officer of Malaysia and global Shariah at Principal, said, “The Vietnamese economy has shown strong performance and is becoming a popular destination for foreign investment. This has resulted in the country becoming a highly attractive market for investors seeking long-term growth.”
“We believe that the Principal Vietnam Equity Fund will offer investors a strategic opportunity to participate early in Vietnam’s exciting economic growth whilst potentially generating attractive returns,” continued Munirah who is also Principal’s managing director of strategic distribution and institutional client relations (Southeast Asia and Global Shariah).
Upon launch, the local fund offers two share classes for investors: Class USD and Class MYR-Hedged. Class D will be made available to investors in the third quarter of 2024.
The Fund feeds into Principal Vietnam Equity Fund (“Target Fund”), which bears the same name as the local Fund and is managed by Principal Asset Management Thailand. With a proven track record of excellence, the target fund has earned recognition as one of Thailand’s best-performing Vietnam equity funds over all available periods, with a five-star Morningstar rating[1].
This achievement is attributed to a seasoned investment team, one of the largest Vietnam equity managers currently managing about one-fifth of Vietnam’s equity assets in Thailand. The target fund’s high conviction approach, complemented by a top-down overlay with bottom-up securities selection, ensures that prudent considerations are made as part of the investment process.
Principal Asset Management Berhad, or Principal Malaysia for short, is a joint venture between Principal Financial Group®, a member of the FORTUNE 500® and a Nasdaq-listed global financial services company and CIMB Group Holdings Berhad, one of South East Asia’s leading universal banking groups.
Reference:
[1]Data as of 31 March 2024. Source: Morningstar and AIMC data. All periods refer to YTD, 3-month, 6-month, 1-year, 3-year and 5-year periods.
Source: Principal (Press Release)
