Prudential adds to Vietnam fund

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"We're trying to raise money that we can sensibly invest over an 18-month period," Alex Hambly, Asia chief executive of Prudential Property Investment Management, told a property conference in Singapore today.

The Vietnamese economy hit problems last month when inflation soared to more than 25%.

The government has let the currency, the dong, weaken to try to cut imports and improve competitiveness and raised interest rates, although they are still negative in real terms.

Nevertheless, Hambly said he believes attractive investment opportunities will spring up.

He did not reveal how much he wanted to raise in total, but said it would not reach the top of a $100 million-$500 million (£51.1 million to £255.3 million) range previously suggested.