Deutsche Bank has been appointed as custodian, supervisory bank and fund administrator by Vietfund Management for its Vietnam Bond Fund (VFMVFB), a Vietnamese open-ended fund.

As per the agreement, Deutsche Bank will also provide transfer agency services for the bond fund, which includes data processing of all applications subscriptions, redemptions and switches as well as reporting services for VFMVFB.

Vietfund Management was established as a joint-venture company between a British investment firm and Sacombank, a commercial bank in Vietnam. Vietfund Management now has approximately US$200 million of assets under management.

Pham Khanh Lynh, deputy CEO of Vietfund Management, said: "We chose Deutsche Bank for their ability to understand our needs and to find the right solution for us.

"They were able to show us that they have the capabilities and the expertise in providing world-class fund services, and we believe that the level of support we have received from their client service team is unparalleled in the market. We are pleased with our choice," Khanh Lynh added.

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