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Saigon Asset Management enters partnership with NBB and CNT

Saigon Asset Management, the investment manager of two Frankfurt listed investment funds, has entered into partnerships with NBB Investment and Construction and Materials Trading Company.

The agreements will include SAM’s support to NBB and CNT in investments, advisory, project finance, and co-development of real estate projects.

In addition, Vietnam Property Holding, a real estate-focused fund currently managed by SAM, has confirmed its intention to become a strategic investor to both NBB and CNT.

“We like NBB because it is a leading property developer and infrastructure contractor with strong land banking capabilities, over 50 hectares of land in Ho Chi Minh Cities and more than 1000 hectare of land in other cities. The company recently paid 14 per cent cash dividend and acquired a mining company,” says Louis Nguyen, chairman and chief executive of Saigon Asset Management. “Working with NBB’s chief executive Doan Tuong Trieu has been a pleasure as we are impressed with his vision and track record.”

VPH was ranked as the number one performing Vietnam-focused real estate fund by LCF Rothschild, a financial institution that tracks emerging investment funds around the world.  For the year, VPH’s net asset value increased 9.9 per cent. Since inception, VPH’s NAV increased nine per cent.

Vietnam Equity Holding, the equity-focused fund, increased its NAV by 35.9 per cent in 2009, compared to a 56.9 per cent increase in the Vietnam Index. Since inception, VEH NAV increased 5.4 per cent.

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