VietNamNet Bridge - After experiencing their toughest days in the period of 2008 to 2011, foreign investment funds saw the "light at the end of the tunnel" in 2012. And now they confidently say that the worst days are over. Brighter days ahead Dragon Capital and Mekong Capital are preparing to raise new funds as the Vietnamese stock market has warmed up after a long period of "hibernation". Analysts once predicted that many foreign investment funds would have to shut down in 2008-2011, when the VN Index fell dramatically and brought losses to investment deals. However, the prediction did not come true. In fact, the funds have revived amid the strong recovery of the stock market. A report of Edmond De Rothschild, a British securities company, disclosed that about 10 foreign investment funds in Vietnam had their NAV (net asset value) increase by more than 22 percent in 2013 - the growth rate of the VN Index in that year. Despite tasting bitterness in 2011, the … [Read more...] about Foreign investment funds’ tough days over
Investment fund accounting
WB-funded local development investment fund
VGP - Deputy PM Vu Van Ninh has recently approved of extending the closing deadline of the account of the funding convention on the WB-loaned local development investment project til the end of June 30, 2016. The project is designed to support three main components, including capital support for the local development investment funds; program management support (technical support) to the project management unit and technical support of the sponsor for the local development investment funds. According to the State Bank of Viet Nam, the World Bank's loan is long-term one, which will be re-lent by the Ministry of Finance to local development investment funds; the corresponding capital will be financed by the state budget and local budget. By Vien Nhu … [Read more...] about WB-funded local development investment fund
Few in number, investment funds drive stock market
Few in number, investment funds drive stock market (23-11-2007) HCM CITY — The impact of investment funds on the local stock market has been impressive despite their small number. Nguyen Doan Hung, vice chairman of the exchange, said that 43 investment funds were major sources of capital flows into the market, accounting for 40 per cent of trading value in the stock market. As shareholders in a wide range of companies, the funds also contributed to promoting better and more transparent governance in domestic enterprises, Hung said. The stock exchange planned to foster the establishment an association of investment funds and fund managers in the near future, Hung said. The association would create better track and take advantage of fund participation in the market, he added, noting that the funds themselves also desired to form such an association. Meanwhile, as individual investors have been shying away from the market of late, investment funds have continued to eye long-term … [Read more...] about Few in number, investment funds drive stock market
Securities firm to rate investment funds
HA NOI — Woori CBV Securities Co, a major provider of indices for Viet Nam's financial markets, has announced a fund-rating system, a first for Viet Nam, which will rate investment funds with Vietnamese holdings listed on international exchanges. Funds would be categorised into different groups based on their sizes, styles and risk levels, according to Woori CBV. They would need to meet such minimum criteria as a track record of at least three years and total assets under management of at least US$10 million. Among the 11 qualified funds, only JF Vietnam Opportunities Fund, managed by JP Morgan Asset Management and with assets under management of $117.2 million, has received the highest rating of five stars. At the other end of the spectrum, the FTSE Vietnam Index Fund, with assets under management valued at about $222 million, received one star for its performance. Total assets under management of all rated funds reached $2 billion by the end of November, with VinaCapital's … [Read more...] about Securities firm to rate investment funds
Investment funds drive stock market
Hanoi Times - The impact of investment funds on the local stock market has been impressive despite their small number. Nguyen Doan Hung, vice chairman of the Ho Chi Minh City 's exchange, said that 43 investment funds were major sources of capital flows into the market, accounting for 40 percent of trading value. As shareholders in a wide range of companies, the funds also contributed to promoting better and more transparent governance in domestic enterprises, Hung said. He added that the stock exchange planned to foster the establishment of an association of investment funds and fund managers in the near future to create better track and take advantage of fund participation in the market, noting that the funds themselves also desired to form such an association. Meanwhile, as individual investors have been shying away from the market of late, investment funds have continued to eye long-term opportunities on the bourse. Dang Hong Phuong, general director of the SSI Fund … [Read more...] about Investment funds drive stock market