Taiwan-invested fund prepares additional $155 mln injection in Vietnam stock market
Fubon FTSE Vietnam ETF has received the greenlight from Taiwan’s Financial Supervisory Commission to inject an additional TWD5 billion (roughly $155 million) into Vietnam’s stock market.
The fund is run by Taiwan-based Fubon Financial Holdings.
Outside Fubon Financial Holdings’ headquarters in Taiwan. Photo courtesy of CMoney.
As of June 13, Fubon FTSE Vietnam ETF had a net asset value (NAV) of TWD25.3 billion ($782 million).
Equities accounted for 99.5% of the NAV. Its largest holdings are HPG of Hoa Phat Group, VIC of Vingroup, VCB of Vietcombank, MSN of Masan Group, VHM of Vinhomes, VNM of Vinamilk, and SSI of Saigon Securities.
In parallel with foreign players’ net sales on the Vietnamese stock market, the ETF has seen continuous outflows. Since the start of this year, investors net withdrew VND1.9 trillion ($74.65 million), including VND772 billion ($30.3 million) in May.
The ETF, launched in March 2021, tracks the FTSE Vietnam 30 Index, which includes the 30 large-cap, long-listed and liquid stocks on the Ho Chi Minh Stock Exchange.
In March, Fubon FTSE Vietnam ETF was approved to invest an additional $160 million.
The VN-Index, which tracks the Ho Chi Minh Stock Exchange, closed down 1.66% to 1,279.91 on Friday.
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