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More Vietnamese investment funds receive licenses as Vietnam stock market thrives

A manager of TVAM said TVAM would launch the new fund – TVGF2 – a closed-end fund in early October. It will be listed on HOSE.

Observers commented that more funds are being set up because of improved management and increased demand for investment because of the thriving stock market.

PVI, a fund management company, set up PIF, a fund specializing in investments in infrastructure, a member fund with charter capital of VND520 billion and duration of 5 years. PIF will focus on investing in asset management and development companies with an expected return of 9.5 percent per annum.

By mid-July, the VN Index has increased by 17 percent over the beginning of the year, nearly hitting the 780 point threshold, the highest peak since 2008.

The total charter capital of them two member funds (the other is POF, managed by PVI AM) is VND1.52 trillion. With the investment portfolio management and investment consultancy worth VND10 trillion, PVI AM is one of the companies managing the biggest assets in Vietnam.

Meanwhile, SSI Fund Management Company (SSIAM) in July carried out the IPO for SSI Bond Fund (SSIBF), with total initial capital of VND50 billion. The fund is expected to become operational in mid-August, targeting individual and institutional investors who seek long-term assets growth and safe investment portfolios.

SSIBF is the third domestic public fund managed by SSIAM. The other two are SSI-SCA and ETF SSIAM HNX30. SSIBF said it would inject 80 percent of capital into bonds, deposit certificates and tools which can bring fixed income, and maximum 20 percent into shares, including listed shares and shares to be listed.

The State Securities Commission has allowed Manulife’s MAFBAL and VietinBank Bond Investment Fund (VTBF), both open-end funds, to sell fund certificates to the public with expected minimum capital of VND50 billion for each fund.

Analysts commented that that the establishment of new funds indicates high demand for investing via funds, compared to the past when investors were not interested.

There are 30 funds in the market and most of them have stable growth rates in NAV (net asset value). Most (nearly 20) are open-end funds) and real estate investment funds.

By mid-July, the VN Index has increased by 17 percent over the beginning of the year, nearly hitting the 780 point threshold, the highest peak since 2008.


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