It is the first open-ended equity fund from VCBF – a joint venture between Vietnam Joint Stock Commercial Bank for Foreign Trade of Vietnam and global fund manager Franklin Templeton Investments.

It will invest in listed equities with large market capitalization and good liquidity.

VCBF Blue Chip Fund focuses on generating long-term returns from investments in large cap companies and could be considered as a core equity portfolio for investors with an investment horizon of 3 to 5 years or longer.

"We believe our patient and long-term focused investment philosophy is one of the keys to increasing wealth over time and our newest fund, VCBF Blue Chip Fund, will help investors achieve that objective over the long term" said Avinash Satwalekar, chief executive of VCBF.

"The economic backdrop in Vietnam is starting to show signs of improvement and we expect this positive trend to continue to gain momentum over the next few years," he added.