The fund certificates of Vietnam’s first exchange-traded fund (ETF) VFMVN30 will be listed from October 6, the Ho Chi Minh Stock Exchange has announced.
The number of listed certificates, coded E1VFVN30, will be 20.2 million, which corresponds to the proceeds raised from the fund’s initial public offering of 202 billion VND (9.5 million USD), which is double the amount that had been initially expected.
The reference price, defined as the net asset value per certificate dated October 3, will be announced that day. As of September 23, the net asset value per certificate was more than 10,000 VND (0.47 USD), adding up to a total of 205.3 billion VND (9.6 million USD).
The fund certificate represents the performance of the 30 largest stocks in Ho Chi Minh City, tracked by the VN30 Index.
Each stock has a certain percentage in the portfolio, the highest being property giant Vingroup’s (VIC) 11.07 percent, followed by Vinamilk’s (VNM) 10.32 percent, private equity group Masan’s (MSN) 9.12 percent and Sacombank’s (STB) 8.03 percent.
VFMVN30 forecasts that by the end of this year, the VN30 will account for 61.2 percent of Ho Chi Minh City’s market capitalisation and 58.6 percent of the exchange’s total trading value. The 30 stocks will generate a 17.2 percent profit growth, according to the fund.
There are currently two foreign ETFs operating on the Vietnamese stock market. These are FTSE Vietnam UCITS, managed by Deutsche Bank, and Market Vectors Vietnam, which is managed by Van Eck Global.
The two review their portfolios based on capitalisation, liquidity, free float and foreign ownership of shares. Vietnam’s SSI Fund Management is also working to establish an ETF, simulating the HNX30 Index on the Hanoi Stock Exchange.-VNA
Vietnam’s first ETF to list certificates next week Related image(s)
0 comments:
Post a Comment