Saigon Plans U.S-Domiciled Vietnam Fund

Dec 4 2009 | 12:54pm ET

Saigon Asset Management plans to launch a new offshore hedge fund with Vietnamese industrial giant REE Corp.

The new Vietnam Smart Money Fund will be domiciled in the U.S., but invest in Vietnamese real-estate projects, pre-initial public offering companies and listed Vietnamese equities. RNG, REE’s investment arm, plans to offer a local version of the fund, as well.

“Foreign investors remain interested in the great performance of the Vietnam Index and the phenomenal long term growth of the country,” Saigon CEO Louis Nguyen said. “However, access to quality deal flow and consistent return performance remain to be challenging issues. To be able to invest in Vietnam through this ‘Smart Money’ format and share thoughts directly with the country’s industry leaders is a very unique and attractive proposition.”

Saigon AM is based in Ho Chi Minh City and manages more than US$125 million.

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