Templeton buys 49% of Vietcombank Fund Management
The fund management company focuses on private equity investments in Vietnam, but Templeton hopes to leverage on the partnership with Vietcombank for other areas of asset management.
Franklin Resources, which operates under the Franklin Templeton Investments corporate name, has bought a 49% stake in Vietcombank Fund Management VCFB, an asset management firm focused on private equity investments in Vietnam.
Franklin Templeton bought the stake from Singapore-based investment company Viet Capital Holding. The remaining 51% of VCBF will continue to be owned by Vietcombank, the state-owned commercial bank. The value of the acquisition was not disclosed.
The acquisition is in line with Franklin TempletonÆs approach of entering...
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