NH Amundi Asset Management Signs MOU with Vietnam SSI Asset Management

Baek Young-hoon, CEO of NH-Amundi Asset Management (left), and Le Thi Le Hang, CEO of Saigon Securities Asset Management, signed a memorandum of cooperation on the 13th.

[Asia Economy Reporter Eunmo Koo] NH-Amundi Asset Management announced on the 14th that it signed a Memorandum of Understanding (MOU) for business cooperation with Vietnam Saigon Securities Asset Management (SSIAM) on the 13th to enhance global asset management competitiveness. Saigon Securities Asset Management is a 100% subsidiary of Saigon Securities, the largest securities company in Vietnam, established in 2007.

Through this MOU, NH-Amundi Asset Management has obtained exclusive cooperation rights related to product development using the VN30 and VN50 indices. Accordingly, NH-Amundi Asset Management plans to develop products tracking these indices in collaboration with Saigon Securities Asset Management. They also agreed to cooperate in developing various fund products that can invest in the Vietnamese market.

In May of last year, NH-Amundi Asset Management launched the 'NH-Amundi Vietnam Leverage Fund,' the first leverage product in Korea based on the Vietnam VN30 index. This fund uses a strategy that invests in exchange-traded funds (ETFs) and futures tracking the VN30 index to achieve 1.5 times the daily fluctuation rate of the VN30 index. It is a product that can generate profits through leverage effects when the Vietnamese stock market rises.

Baeyounghoon, CEO of NH-Amundi Asset Management, said, "Vietnam is showing rapid growth among emerging countries," and added, "With this MOU, we plan to develop and provide various products that allow Korean investors to invest in the Vietnamese market, where investment methods are still limited."

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