All Foreign Public Funds Report Loss in Vietnam

The England’s LCF Rothschild Emerging Market Funds Research said in its recent report that 100 per cent of foreign public funds in Vietnam have suffered losses as of March 7, with their net asset value (NAV) falling, reported the state-run Securities Investment newspaper.

 

The average fall in NAV of foreign funds is 13.2 per cent compared with the end of 2008. Blackhorse Enhanced Vietnam Inc and Vietnam Holding witnessed their NAV sharply fall of 19.5 per cent and 19.1 per cent during the period, the report showed.

 

Only five out of 16 public equity funds saw their NAV down less than 10 per cent such as Vietnam Emerging Market Fund with 8.7 per cent, Indochina Capital Vietnam Holdings with 6.2 per cent, Vietnam Infrastructure Ltd 3 per cent, VinaCapital Vietnam Opportunity Fund Ltd 3 per cent and Vietnam Azalea Fund with 0.9 per cent. All had disbursed in shares since 2008.

 

Out of four Vietnamese public funds, Manulife Progressive Fund (MAFPF1) incurred most loss with a fall of 18.5 per cent in NAV, followed by VFMVF1 with 10.1 per cent, VFMVF4 9.6 per cent and Prudential Fund (PRUBF1) 4.2 per cent, LCF Rothschild said.

 

Two bond public funds saw their NAV increase, including Dragon Capital Vietnam Dept Fund “A Class” with 5.9 per cent and Dragon Capital Vietnam Dept Fund "B Class" with 3.9 per cent.

 

The country’s benchmark VN-Index fell 22.1 per cent as of March 7 since the early this year.

 

In 2008, foreign public funds investing in Vietnam equity suffered loss of 70.5 per cent on average, while the VN-Index lost 68.8 per cent in its value. (Securities Investment)