Taiwan’s Fubon FTSE Vietnam ETF sees $42 mln net outflow

Investors have withdrawn a total of $42 million worth of fund certificates from Fubon FTSE Vietnam ETF, run by Taipei-headquartered Fubon Financial Holdings, since the start of this year.

Between May 9-21, the ETF saw a net outflow of nearly $31 million, meaning a corresponding value of Vietnamese shares was sold in the period.

On Tuesday, some $12 million worth of its fund certificates were net sold. That was the ninth consecutive session that investors net withdrew from the ETF. Consequently, the fund sold almost all its portfolio constituents, except for HCM of Ho Chi Minh City Securities. The most heavily sold were HPG of Hoa Phat Group, VHM of Vinhomes, VIC of Vingroup, SSI of Saigon Securities, and SHB of Saigon-Hanoi Bank.

As of the close on Tuesday, Fubon FTSE Vietnam ETF had a net asset value of some $817 million, remaining the largest ETF investing in Vietnam.

HPG remained its biggest investment, with 68.5 million shares, representing a weight of 10.49%. The runners-up were VIC with 41.2 million shares and a weight of 9.2%, VHM (43.7 million shares, 8.46%); VCB of Vietcombank (19.08 million shares, 8.36%), and MSN of Masan Group (21.4 million shares, 7.82%).

Foreign investors net sold a total of VNDD729.8 billion ($28.66 million) worth of stocks on the Ho Chi Minh Stock Exchange on Tuesday, exchange data shows.

They have been net sellers to the tune of VND27.03 trillion ($1.06 billion) on the bourse in the year to May 21.

Meanwhile, investors have net sold over VND12.2 trillion ($479 million) worth of fund certificates of Vietnam-invested ETFs in the year to last weekend, according to VnEconomy.vn.