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Strategies & Market Trends : Vietnam-the next Asian Tiger?
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From: Mannie11/29/2006 2:50:42 PM
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JF Asset Vietnam fund fully subscribed in one day

A Vietnam-focused fund launched by JF Asset Management for Hong Kong investors was fully subscribed on its first day, raising almost $50 million, the fund manager said late on Tuesday.
The JF Vietnam Opportunities Fund is the first Vietnam fund to be authorised by Hong Kong regulators for retail investors, JF said.

The fund was launched on Nov. 27 and closed to new subscriptions later that day due to "exceptionally strong demand", it added.

Investor excitement about Vietnam's prospects has soared in recent months. The economy is growing at 8 percent and it recently won entry to the World Trade Organization.

JF Asset saw similar strong demand in June when it launched a fund that invests in mainland China's domestic A-share market. That fund raised $190 million just days after launch and was closed to new investors.

Hong Kong-based JF Asset is part of the fund management arm of JPMorgan Chase & Co. JPMorgan Asset Management had some $935 billion in assets under management as of Sept. 30.
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