This photo taken on Aug. 25, 2023 shows the launching ceremony of the CGS Fullgoal Vietnam 30 Sector Cap ETF on Singapore Exchange (SGX Group), in Singapore.(Xinhua)
SINGAPORE, Aug. 25 (Xinhua) -- The CGS-CIMB Securities has launched the CGS Fullgoal Vietnam 30 Sector Cap ETF on Singapore Exchange (SGX Group) on Friday.
The ETF, which comprises the largest and most tradable companies listed on the Ho Chi Minh Stock Exchange, has raised about 35 million Singapore dollars (25.78 U.S. dollars). This is the highest assets under management raised for an ETF at the point of listing on SGX in 2023, according to the CGS-CIMB Securities.
The CGS Fullgoal Vietnam 30 Sector Cap ETF closely replicates the performance of the SGX iEdge Vietnam 30 Sector Cap, which is overweight on sectors such as real estate, financials and consumer staples.
"The ETF combines the expertise of CGS-CIMB and Fullgoal to provide an unparalleled investment opportunity into one of Asia's fastest growing markets," said Carol Fong, Group CEO of CGS-CIMB Securities.
Driven by strategic initiatives from the government, Vietnam's digital economy is projected to experience an annual growth of 28 percent in gross merchandise value, reaching 50 billion U.S. dollars by 2025.
Chen Ge, CEO of Fullgoal Fund and Chairman of Fullgoal Asset Management (Hong Kong) said the emergence of an outstanding cross-border ETF necessitates the confluence of three essential components, which is a quality benchmark index, a proficient manager, and a leading trading platform.
"We will draw upon our robust research and analytical foundation, leveraging on the preeminent position of SGX Group and the strong presence of CGS-CIMB, while collectively exploring investment opportunities within the ASEAN market," he noted.
The ETF offers dual currency trading in U.S. dollars and Singapore dollars. ■
