Funds Suffer Big Loss in Vietnam Stock Market This Year )

The England’s LCF Rothschild Emerging Market Funds Research has said that foreign investment funds in Vietnam stock market have suffered big losses this year, with their net asset value (NAV) sharply decreasing, the Securities Investment newspaper reported.

 

Two big funds whose NAV calculated in U.S. dollar have fallen by 70 per cent since early this year include PXP Vietnam Fund with 70.6 per cent, and Vietnam Emerging Equity Fund with 70.4 per cent, the research said.

 

Some other funds that have seen a decrease of over 60 per cent in their NAV are named such as Blackhorse Enhanced Vietnam Inc with 62.6 per cent, JF Vietnam Index ETF with 62.1 per cent, Vietnam Enterprises Inv'ts Ltd 61.1 per cent, Vietnam Dragon Fund 63.1 per cent, Vietnam Growth Fund 63.1 per cent, and Vietnam Holding 60.9 per cent.

 

The country’s VN-Index now stands around the 300-point benchmark, falling 69.6 per cent from the beginning of this year and hitting the record low of three year.

 

Among 26 public funds investing in Vietnam, Tothchild named three funds with NAV fall of below 30 per cent, including Vietnam Equity Holding, Vietnam Infrastructure Ltd and Vietnam Resource Investments.

 

Mekong Enterprises Fund is the only investor who did not suffer loss this year.

 

Five real estate investment funds have witnessed insignificant changes in NAV, excluding VinaLand up 17.6 per cent and JSM Indochina up 9.6 per cent.

 

Rothchild noted that all these funds had not suffered any loss in the three previous consecutive years. (Securities Investment)