FTSE Vietnam ETF may heavily buy Vinhomes, sell Vingroup in upcoming reshuffle: broker

FTSE Vietnam ETF is forecast to strongly buy in several Vietnamese heavyweights such as Vinhomes, Hoa Phat, and Vietcombank in its upcoming portfolio reshuffle.

The ETF, which tracks the FTSE Vietnam Index, is forecast to delete EVN Finance (EVF) from its portfolio due to market cap disqualification and add no new stocks, Hanoi-based DSC Securities Corporation (HoSE: DSC) said in a note on Wednesday.

The ETF may net buy 1.41 million shares of housing developer Vinhomes (VHM), 772,659 shares of steelmaker Hoa Phat (HPG), and 653,078 shares of Vietcombank (VCB).

On the opposite side, the fund, with total assets of $274 million as of October 31, is anticipated to sell 3.9 million shares of Saigon Securities (SSI), 1.34 million shares of EVN Finance (EVF), and 1.3 million shares of Vingroup (VIC).

Meanwhile, VanEck Vietnam (VNM) ETF, with $438.4 million worth of total net assets as of November 21, is expected to add three new tickers: Viettel Post (VTP), NamABank (NAB), and MB Securities (MBS).

This ETF is forecast to purchase 14.9 million shares of VIX Securities (VIX), 7.2 million shares of Masan Group (MSN), and 8.5 million NAB shares. Meanwhile, it may sell 3.04 million shares of Tasco (HUT), 3.4 million shares of VNDirect Securities (VND), and 3.9 million shares of Novaland (NVL).

FTSE Vietnam ETF is due to announce a new portfolio on December 6 and finish its restructuring on December 20. VNM ETF is scheduled to do so on December 13 and 20, respectively.

Both ETFs have seen outflows this year. Investors have net withdrawn VND1,582 billion ($62.2 million) from FTSE Vietnam ETF and VND788 billion from VNM ETF.