Tenth open-ended equity fund launched in VN Hong Phuc HCMC – Bao Viet Prospect Equity Open-Ended Fund (BVPF), the 10th such fund on the domestic market, was rolled out in Hanoi on Wednesday. Between November 14 and December 16, investors can purchase a minimum of VND1 million worth of fund certificates. Bao Viet Securities Company and Bao Viet Fund Management Co Ltd (Baoviet Fund) are the distributors of BVPF fund certificates while Bank for Investment and Development of Vietnam is the supervising agency. Vietnam Securities Depository is the provider of transfer agent services. BVPF is the third open-ended fund of Baoviet Fund after Bao Viet Equity Dynamic Open Ended-Fund (BVFED) and Bao Viet Bond Open-Ended Fund. By end-October, BVFED had managed total assets of VND36 trillion (US$1.6 billion), one of the two biggest in Vietnam. Dau Minh Lam, CEO of Baoviet Fund, said BVPF concentrates on listed enterprises on Vietnam’s stock market. The fund will invest in … [Read more...] about Tenth open-ended equity fund launched in VN
Open ended investment fund
Vietnam urged to allow open securities-management fundsBy Bui Huong - The Saigon Times DailyHANOI – The nation has been urged to issue regulations to facilitate establishment and operation of domestic open-end investment funds to lure more foreign investors and improve liquidity on the stock market.Relevant departments in Vietnam should set up specific regulations for the funds, taking into account the local financial context, Campbell told the meeting that was organized at a time when the State Securities Commission is circulating a draft circular on the issue.Vietnamese investors have yet to have much information about the funds, or the necessary financial knowledge. This will be the big challenge for establishment and operation of such funds in the country, Campbell said.There are around 20 investment fund companies active in Vietnam, including those running closed-end funds like Vietnam Opportunity Fund, Vietnam Growth Fund and Vietnam Enterprise Investment Ltd. … [Read more...] about Vietnam urged to allow open securities-management funds
VietNamNet Bridge - Despite the dark days of the stock market, more and more open end investment funds have been set up. However, it's still too early to say about their performance. According to the State Securities Commission (SSC), in the first half of the year alone, the watchdog agency granted license to four open end funds, while it is considering licensing five more in the time to come. It is expected that 15-20 such funds would be set up in 2013. As such, Vietnam has had 47 fund management companies so far, 18 securities investment funds, 8 investment funds which are following the procedures to get dissolved and 26 operational representative offices. It is quite a surprise that Vietnam still witnesses the investment fund boom in the context of the gloomy stock market. The number of fund management companies reportedly decreased significantly in the first six months of the year. Some left the market in different ways: one is following the procedures to get dissolved, one … [Read more...] about Will Vietnamese stock market benefit from open-end fund boom?
VinaWealth introduces opened-ended investment fund Thanh Thuong By Thanh Thuong - The Saigon Times Daily HCMC – VinaWealth Fund Management JSC (VinaWealth) has introduced Bao Thinh VinaWealth Enhanced Fixed Income Fund (VFF) under its management as an opened-ended bond investment fund. VinaWealth is backed up by VinaCapital group as a majority stakeholder of 49%. At the road show on the fund’s operation in HCMC on Tuesday, Dang Vi Thanh, head of Retail Sales of VinaWealth, said 80% of the fund’s portfolio is set aside for bond investment, focusing on government bonds or government-guaranteed papers. VinaWealth also invests in treasury bills, corporate bonds, money market investments and other instruments. HSBC Vietnam is active as the supervisory bank, transfer agent and fund administrator while Saigon Securities Inc. (SSI) is in charge of distributing the fund units. Roy Fong, Fixed Income Director of VinaWealth, said VFF’s target is to reach a profit rate … [Read more...] about VinaWealth introduces opened-ended investment fund
VietNamNet Bridge - Watchdog agencies have every reason to believe that the first open-end investment fund would make debut on the stock market this year. Earlier this year, right after the Circular No. 183 guiding the establishment and management over open-end funds took effects, the Vietnam Fund Management Joint Stock Company (VFM) applied for the establishment of an index fund - VN30. However, according to the State Securities Commission (SSC), VFM designed its product in accordance with the operation principle of an index fund, which is similar to that of exchange traded fund ETF, while the legal framework for the products has yet taken shape. Therefore, SSC then asked VFM to make some changes with the plan. The reason, together with some other factors, have delayed the establishment of the VFM's VN30 fund. Currently, VFM is preparing to shift one of the close-end fund it is managing into an open-end fund. A senior official of SSC has also revealed that the commission … [Read more...] about Vietnam to welcome first open-end fund in 2012