Biggest ETF in Vietnam Fubon sees $95 mln outflow

Taiwan-based Fubon FTSE Vietnam, the largest ETF active in Vietnam, has seen an outflow of $95 million this year, tracking a net selling spree by foreign players.

Investors net withdrew some $35 million from the ETF in nine sessions running as of Monday, June 17, equivalent to the value of Vietnamese equities net unloaded during the period, according to the fund’s data.

Over the nine-session streak, the ETF net sold 2.92 million shares of Hoa Phat Group (HoSE: HPG); 1.73 million shares of Vingroup (HoSE: VIC); 1.83 million shares of Vinhomes (HoSE: VHM); 799,000 shares of Vietcombank (HoSE: VCB); and 899,000 shares of Masan Group (HoSE: MSN). The tickers were also the ETF’s largest holdings by that order as of Monday.

On the other hand, the fund net bought 3.86 million shares of VNDirect Securities (HoSE: VND), 177,643 shares of Kinh Do Group (HoSE: KDC), and 529,230 shares of Vinaconex (HoSE: VCG).

As of Monday, Fubon had TWD24.2 billion ($749 million) in net asset value (NAV), remaining the biggest ETF in Vietnam. Equities accounted for 99.51% of its NAV.

Foreign investors have net sold VND43.35 trillion ($1.7 billion) worth of Vietnamese securities listed on the Ho Chi Minh Stock Exchange (HoSE) in the year to June 17.

Last week, Fubon received the green light from Taiwan’s Financial Supervisory Commission to pour an additional TWD5 billion (roughly $155 million) into Vietnam’s stock market.