The Dutch pension asset manager's Asia Pacific head of real estate says his team has just had one of its busiest years ever and that 2021 is looking similarly promising.
The fund has held tentative discussions with Schroder Investment Managers, HSBC Investments and Deutsche Bank about the possibility of cooperation.
But he says it is probably going to take another one or two years before VSS will be ready to invest overseas. It is currently discussing the necessary regulatory approvals with its regulator, the Ministry of Finance. Phuoc notes the fund needs to diversify outside Vietnam to ensure it can achieve the higher returns it requires to meet its obligations.
Currently the VSSÆ assets remain in domestic bank deposits, government bonds and transportation and other infrastructure projects. Its investment target is 7% above local inflation, Phuoc says.
Two Vietnamese life insurance companies already invest abroad: BaoViet and Bao Minh. But Phuoc says these are not able to provide VSS with assistance or advice, as they are private companies with different liabilities.
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