HSC is proud to support the initial public offering (IPO) of the PHFM VNSHINE ETF, a new Smart Beta ETF managed by Phu Hung Asset Management (PHFM), officially launching in the Vietnamese market. The introduction of the PHFM VNSHINE ETF is expected to provide a sustainable investment option based on the true financial health of enterprises.

As one of the founding members participating, HSC takes pride in contributing to bringing this innovative investment product to market, offering investors a differentiated approach focused on shareholder yield, financial resilience, and long-term value creation.

The fund operates based on the "Vietnam Shareholder Interest Enhanced Index" issued by HOSE, selecting 15-30 stocks from the VNAllshare basket based on three criteria: stable cash dividends, control of share dilution, and reduced financial leverage.

PHFM representative stated that this strategy helps overcome the limitations of traditional indices, which are prone to falling into the trap of buying overvalued stocks when capital inflows are strong. The focus on cash also helps filter financial reporting noise more effectively, as 41% of listed stocks show post-audit EPS discrepancies exceeding 1%.

The launch of the PHFM VNSHINE ETF marks another important milestone in the continued development of Vietnam's capital market, expanding high-quality investment solutions for both institutional and individual investors.

The IPO registration period runs from May 22 to June 22, 2026, with the fund expected to be listed on the Ho Chi Minh Stock Exchange (HOSE) upon completion of the offering.