Amova, under Sumitomo Mitsui Trust, to establish asset management JV in Vietnam

Reuters··VNJP·Read original
2▲1 ▼0Impact / 5
Summary · why it matters

Amova Asset Management, under the Sumitomo Mitsui Trust Group, announced on the 26th that it has agreed to establish a joint venture for asset management in Vietnam with BIDV Securities (BSC), a securities company under the Bank for Investment and Development of Vietnam (BIDV). The aim is to capture Vietnam's asset management demand, which is expected to expand due to economic growth and increasing financial assets. By combining BIDV and BSC's local customer base and market knowledge with Amova's global investment capabilities, they will provide services to individual and institutional investors. Subject to regulatory approvals, the stake ratio and establishment timing have not been disclosed. Vietnam's GDP is currently growing at over 8%, and Amova positions the country as a key market in its global growth strategy. This agreement is based on the strategic relationship that Sumitomo Mitsui Trust Group and BIDV have built since 2013, expanding collaboration into asset management. BSC was established in 1999 and had capital of approximately 2.4537 trillion Vietnamese dong (about 15 billion yen) as of the end of March 2026.

Impact on assets 1

Financials▲

Off-coverage companies 3

Amova Asset Managementi
Private▲ PositiveCapitalrelevance

Establishes JV to capture Vietnam's growing asset management demand.

BIDV Securities Joint Stock Company (BSC)i
Private▲ PositiveCapitalrelevance

JV leverages BSC's local customer base and market knowledge.

Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV)i
Private± Mixedrelevance