Local Investment Funds Seeking to Invest during Hard Time

Local investment management funds are seeking to boost investments in Vietnam during the hard time now, taking the falling stock market for a second-to-none chance, executives of several funds said on June 11.

 

“The falling market is a chance for us to boost investments,” Andy Ho, CEO of VinaCapital, one of leading management funds in Vietnam said.

 

VinaCapital is aiming at investing on negotiable base, and so far it has signed six deals with local companies with reach deal valued at US$10 million-US$20 million, Andy Ho said, adding up to 80 per cent of its capital has been disbursed.

 

Another director of a foreign-invested fund based in Ho Chi Minh City said that it is a chance to invest now and cannot be missed now.

 

Duong Thu Huong, head of IDG Ventures’ External Relations said IDG Ventures, which is managing US$100 million, is seeking opportunities in unlisted IT firms, so far IDG Ventures has invested in six firms of this field and will inject cash into five others by the end of this year.

 

“We see chances in slowed down growth,” Huong said.

 

Vietnam has more than 90 stock brokerages, and 20 investment management funds.

 

Vietnam’s stock index has lost 60 per cent of its value since the beginning of the year. (Young People)