Dragon Capital, the largest asset manager in Vietnam, has listed a new property fund on the AIM.

The Vietnam Property Fund is a closed-end fund with £45m of initial capital, most of which was raised from institutional investors.

The company said it was seeking to achieve attractive returns in the medium to long term for its shareholders through a diverse portfolio of properties.

The investments will be mostly centred on Vietnam’s property market.

Rapid Vietnamese growth

'Vietnam's rapid growth has resulted in acute under-supply across a range of property categories,’ said Neil Thurston, head of Dragon’s property investment team. ‘Our aim will be to seek out investments that are most likely to benefit from the raw growth of the domestic economy.'

Dragon was founded in 1994 and manages around £1bn of property worldwide.