UOB Asset Management (UOBAM) has completed the acquisition of VAM Vietnam Fund Management Joint Stock Company (VAM VN) in Vietnam to strengthen its presence in Southeast Asia.
With the acquisition, VAM VN will operate as a subsidiary of UOBAM, and will be renamed UOB Asset Management (Vietnam) Fund Management Joint Stock Company, subject to regulatory approval.
By integrating VAM VN into its regional network, UOBAM is expected to provide knowledge transfer in areas including sustainable investments, smart beta and multi-asset strategies, along with sharing best practices across the front-, middle- and back-office functions.
Also, the company is empowered to adopt data analytics and artificial intelligence technologies in operational processes and product distribution channels to address the needs of digitally-savvy investors in Vietnam.
UOBAM Group CEO Thio Boon Kiat said: “Vietnam is a rising star in ASEAN and we are pleased to be able to bring our suite of fund solutions to local institutional and individual investors.
“The expertise of our new Vietnam office will also complement our broader strategies in ASEAN equity and fixed-income funds and investment mandates, enriching our product offering for investors and creating more collaboration opportunities with partners across Asia.”
Established in 2009, VAM VN is engaged in providing investment management advisory and services to institutional and individual investors through solutions including corporate structured funds and segregated accounts.
With the addition of Vietnam to its regional network, UOBAM expands its presence in nine markets across Asia, including Brunei, mainland China, Indonesia, Japan, Malaysia, Singapore, Taiwan, Thailand and Vietnam.
VAM VN new CEO Thieu Thi Nhat Le said: “Our goal is to become one of the leading asset management firms in Vietnam within the next five years.
“Backed by the strong reputation and track record of UOBAM and UOB Group, we will enhance our investment capabilities to serve the growing needs of Vietnam’s investors better. We are also committed to developing local talent and in turn contribute to the progress of the country’s asset management industry.”
