09:00 – 17:30

Monday to Friday

Số 1 Nguyễn Thượng Hiền,

Hai Bà Trưng, Hà Nội

(+84-24) 39724568



IPAAM fund management company wishes to accompany with investors on the path of securely investing and building healthy financial conditions by providing a variety of investment management products and services to meet different needs of investors.

VND Active Investment Fund

IPAAM’s open-ended stock fund and bond fund products help investors build a foundation of payment protection assets and accumulation assets for secure investment purpose.

Portfolio Management

IPAAM provides a comprehensive, professional portfolio management services designed to suit different investment goals and risk appetites, maximizing customers’ satisfaction.


Opening fund certificate trading accounts instruction

Trading fund certificate instruction

Investors place orders for transactions on VNDIRECT DBoard (“Fund certificate” on the right hand side).

  • Buying VNDAF Fund: code VNDAF
  • Buying via SIP program:  code VNDAFS003
  • Buying VNDBF Fund (DCash Fund): code VNDBF

Investors can choose to pay for the purchase through:

  • Transfer money directly from stock accounts
  • Transfer money to fund accounts

Fund certificate distribution agent

  • VNDIRECT Securities Joint Stock Company
    • Head Transaction Office: No 1 Nguyen Thuong Hien, Hai Ba Trung district, Ha Noi

    Tel:     1900545409

    • Ho Chi Minh City Branch Transaction Office: The 90th Pasteur Tower, District 1, Ho Chi Minh City

    Tel:      1900545409

VND Active Fund (VNDAF)

VNDAF invests in the largest-capital stocks group in the VN30 market, using criteria to screen out stocks with solid fundamentals and high potential for growth, to benefit from the long-term growth of the market. VNDAF fund is a long term investment asset with an investment of only VND 1 million, making it easy for individual investors to access.

Learn more here

VND Bond Fund

VNDBF invests in a basket of listed bonds and attractive fixed interest, high liquidity assets. VNDBF is a defensive asset that helps customers build healthy payment conditions and ensure short-term cash flow which is ready to use when needed  

Learn more here

VNDAF Systematic Investment Plans (SIP)

This is a form of systematic investment savings. Accordingly, investors invest a certain amount of money every month to accumulate VNDAF Fund Certificates. Period investment helps investors establish a disciplining of investment savings and benefit from the average of purchase price and compound interest accumulated in the long-term.

Trading regulations and price lists

Trading frequency Monthly Daily
Trading day(T) Every Thursday Monday to Friday
Time to close the order 10:30 of Wednesday 14:45  of (T-1)
Minimum Amount 1 million VND 1 million VND
Purchase fee According to the purchase amount:

§  Below 10 billion VND: 1%

§  Over 10 billion VND: 0,75%

Redemption Fee According to investment term :

§  Less than 3 month: 1%

§  3 month – 1 year: 0,75%

§  1 year – 2 years: 0,5%

§  Above 2 years: 0%

Account receiving money to purchase fund certificates o   Account name: QUỸ ĐẦU TƯ CHỦ ĐỘNG VND

o   Account number:

o   Bank: BIDV – Hà Thành Branch

o   Content: [Investor name]_[Open-ended fund account number] Mua Quỹ VNDAF.

Example: Nguyen Van A, 021C123456, mua Quỹ VNDAF.

o   Account name: QUỸ ĐẦU TƯ TRÁI PHIẾU VND

o  Account number:

o  Bank: BIDV – Hà Thành Branch

o   Nội dung: [Investor name]_[Open-ended fund account number] Mua Quỹ VNDBF.

Example:: Nguyen Van A, 021C123456, mua Quỹ VNDBF.

Why US?


Outstanding strength of technology platform. The investing action is taken totally online from account opening to fund certificate trading


Professional, honest, dedicated, experienced investment management team always put the benefits  of customers the first.


Part of VNDirect’s value chain, we provide investment products to help customers have a variety of investment options for different financial goals.


Investors who need more information about the products and services please fill in the form below. We will reply as soon as possible.

For more information about VNDAF and VNDBF open-ended fund certificate, investors can contact directly via the following phone number:

1. VND active investment fund (VNDAF): (+84-24) 39724568 (ext: 12211)
2. VND bond investment fund (VNDBF): (+84-24) 39724568 (ext: 12214)