Bao Viet Value Investment Fund targets M&A and SOE equitization opportunities.
The Baoviet Fund kicked off the VND1 trillion ($44.72 million) Bao Viet Value Investment Fund (BVIF) on November 6.
The new fund is currently preparing to utilize investment opportunities in merger and acquisitions and the restructuring of State-owned enterprises (SOEs) and attracting new capital flows from the TPP.
Its business strategy is targeted at initial public offering of SOEs and their divestment phases, with the aim of becoming the major shareholder in firms and becoming involved in their management.
Depending on market conditions BVIF will also investment in other assets to increase the net asset value of the fund.
General Director of the Baoviet Fund Dau Minh Lam said that in the future the company will introduce other funds.
Baoviet Fund is 100 per cent owned by Bao Viet Holdings with total assets under management estimated at VND28 trillion ($1.25 billion).
In the first half of this year Bao Viet Holdings earned revenue of VND9.7 trillion ($422.4 million), a 7 per cent increase year-on-year, with after-tax profit of VND731 billion ($33.07 million), a 13 per cent rise compared with the same period last year.