Fund managers find it hard to call for indirect capital Thuy Trieu By Thuy Trieu - The Saigon Times Daily HCMC – Although foreign fund managers have been trying to promote investment opportunities in Vietnam to investors worldwide, indirect capital into Vietnam via investment funds remain low. Andy Ho, managing director of VinaCapital with US$1.5 billion of assets under management in Vietnam, said that he has met many investors in the U.S. and Europe to lure funds for the country over the past two years. However, foreign investors have yet to give positive feedbacks. “They said that they needed more time to see whether the economy in Vietnam would be better,” Ho said. Foreigners’ massive capital withdrawal out of emerging markets has caused challenges for fund managers in mobilizing capital for the Vietnam market. However, VinaCapital still has over US$100 million in cash to invest in the country, Ho added. Mekong Capital, a fund management firm that … [Read more...] about Fund managers find it hard to call for indirect capital
Assets under management by country
By Thuy Trieu - The Saigon Times Daily HCMC – AIA Vietnam on Tuesday signed an investment management agreement to assign Vietcombank Fund Management Co. (VCBF) to manage the insurer’s investment portfolio in Vietnam. The investment portfolio is worth about VND150 billion and the contract will be valid in three years. According to the agreement, AIA Vietnam portfolio will be divided into three separated portfolios with diversified investment objectives, namely the Conservative, Balanced, and Growth Portfolios managed by VCBF. The Conservative Portfolio aims to generate stable income from interest sums, preserving capital through investment in government and corporate bonds. The Balanced Portfolio’s investment objective is to maximize total investment return through capital appreciation and income by investing in both bonds and equities. The Growth Portfolio is aimed to capture capital appreciation by investing in listed equities in Vietnam. The portfolios will … [Read more...] about VCBF contracted to manage portfolio for AIA Vietnam
VietNamNet Bridge - Experts believe that the bad debts would not be entirely settled until 2015, and that the national debt trade company would need 30 trillion dong a year to clear the debts. How to settle bad debts has been discussed on all finance forums recently. However, no solution has been chosen so far. The State Bank of Vietnam (SBV) believes that it is necessary to set up an AMC (asset management company) with the total chartered capital of 100 trillion dong, which would be in charge of trading bank bad debts. The AMC model has been existing in many countries in the world as a subsidiary or a part of a commercial bank. Meanwhile, the Ministry of Finance (MOF) wants to upgrade the operational DATC (Debt and Asset Trade Corporation) now put under its management, into a more powerful corporation to be in charge of settling bad debts. Economists do not think that settling bad debts is a task of the State. They believe that commercial banks have to deal with the bad … [Read more...] about Vietnam needs VND30 trillion a year by 2015 to settle bad debts
The word on the street is that Vietnam's stock market is hot, overpriced, a bubble, and all the related naysayer tones. As usual, it is all a question of perspective.If you are an investor with a long-term view - 10 years or more - Vietnam remains a great investment opportunity. Taken in relative terms, you have not missed the boat in seeking investment opportunities in the country, whether through the stock market or otherwise. Various coverage from major investment banking houses over the last 18 months, starting with Merrill Lynch back in January 2006, has been consistently bullish on Vietnam as an investment destination. Triple digit returns for 2006 and a similar trajectory in early 2007 provided clear indication of the investment community's appetite for Vietnamese equities. This appetite is a reflection of several key drivers, all of which provide impetus for further growth in the long term.The primary driver that makes Vietnam continue to be an attractive investment destination … [Read more...] about You haven’t missed the boat!
HCM City’s Deputy Tran Du Lich several times proposed the 12th National Assembly (NA) to build a law to manage state capital. At the ongoing session of the 13th NA, Lich again asked to have such a law. This deputy persists in his opinion because the state-owned economic sector is a very significant field, which has impacts on the economy and national assets. In November 2009, the 12 NA performed the supreme supervision over the improvement of effect and effectiveness and implementation of policies and laws on managing, using state capital and assets at state-owned groups and corporations. At that time, deputy Lich spoke that the people have assigned the Government to hold over $30 billion of capital and 365,000 hectares of land. “The State, in the status of State, is already managed by the Enterprise Law but the State, with the status of one who holds $30 billion to invest in business, needs to be managed by a specific law. Others countries have such laws and we must … [Read more...] about Vietnam needs law to manage State-owned groups