Vietcombank Fund Management has joined forces with Franklin Templeton Investments to launch a balanced open-ended mutual fund in Vietnam.

The VCBF Tactical Balanced Fund will invest in both equities and fixed income, while its equity portfolio will mainly invest in large-cap growth and value stocks, while the fixed income portfolio will invest across government, municipal and high-quality listed corporate bonds, Asian Investor reported.

The fund will have the ability to take defensive or aggressive positions based on investment opportunities.

The VCBF Tactical Balanced Fund, for which Deutsche Bank will act as the fund’s service provider, marks a significant development in the country’s financial sector.

Avinash Satwalekar, Vietcombank CEO and CIO, said: "The current low-interest-rate environment, coupled with government policies to boost economic growth, have created a unique opportunity for investors."

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