UBS has started selling Vietnamese equity-linked investments in the form of market-access products such as total-return swaps and equity-linked notes. Min Park, head of Asian equity risk management products in Hong Kong, said with the economy growing fast there was demand for the underlying. Park declined to name specific shares referenced by UBS.
Park said the interest is global. UBS expects to see institutional buyers such as long-only funds and hedge funds. This is the "beginning of the globalization of the Vietnamese stock market," said Park.
Citigroup entered the space last year and Merrill Lynch received a trading code from the Vietnam Securities Depository in August, allowing the firm also to trade the instruments (DW, 15/9).
