VietNamNet Bridge – Only a few of the 50 existing investment fund management companies has been performing well, while others cannot raise funds to manage. The representative of the SSI investment fund management company admitted at the meeting with the State Securities Commission in early 2013 that the fund management companies experienced a very tough year in 2012, when no new fund was raised. A lot of management companies still didn’t have funds to manage. Most of the companies incurred big losses or made modest profits. Many of them have been operating at a moderate level to survive the difficulties and wait for the stock market to prosper again. The question what fund management companies have been doing to live if they cannot call for capital from investors remains unanswered. Investors can find the finance reports of fund management companies on the official website of the State Securities Commission. However, these are just annual reports, while … [Read more...] about What do fund management companies live on?
Bridges fund management
VietNamNet Bridge - Fund management companies that have been in Vietnam a long time are moving ahead with plans to raise new funds in anticipation of great opportunities to come from equitized state-owned enterprises, profitable listed companies and private businesses with potential. A representative of VinaCapital, which now manages three funds listed on the London stock market with total asset value of $1.5 billion, said VinaCapital would put the second domestic fund into operation in the Vietnamese market in November. The fund would be open to both Vietnamese and foreign investors with initial investment capital of $5 million. It would target companies with shares being transacted on the OTC or UpCom markets. Prior to that, in August 2016, VinaCapital cooperated with Shinhan BNP Paribas Asset Management to develop the funds for South Korean investors. In the immediate time, the two sides would join forces to develop VIP Equity Fund, which specializes in making … [Read more...] about Financial investment: foreign funds ready for disbursement
VietNamNet Bridge – Only 23 fund management companies are still in operation out of the 47 companies licensed by the State Securities Commission (SSC). The total assets managed by the management companies have dropped by 23 percent in comparison with the end of 2011. A lot of companies have been just trying to hold out to survive the current difficulties.It’s difficult to raise funds The most noteworthy event in the fund management market so far this year is the listing of ASIAGF certificates of the ACB Growth Fund. However, the initial capital of the fund was modest at just 240 billion dong. The total assets of ASIAGF had increased to 275 billion dong by the end of the second quarter of 2012. With the management fee of 0.5 percent of the total net assets every year, ACB Fund Management Company could earn the revenue of 1.4 billion dong, a modest income if compared with the expenses to operate the business. Meanwhile, other management companies still cannot raise … [Read more...] about Which fund management companies live on?
VietNamNet Bridge – Only 24 out of the 47 investment fund management companies reported profit in the first three quarters of 2013. Investment fund management companies were once described as the “big fish in the little pond” in the hot development period of the stock market. But the economic recession and the gloomy stock market have made a lot of them “short of breath.” Big loss, small profit The Q3 finance reports just released by fund management companies showed that the majority of them are facing big difficulties. Only 24 out of 47 companies have declared profit, including Vietinbank Capital, MB Capital and ACB Capital, while the others incurred big loss. Manulife Fund Management Company Ltd, for example, reported the Q3 loss of VND3.2 billion, triple that of the same period of the last year, raising the accumulative loss by the end of the third quarter to VND5.7 billion. Viet Cat Fund Management Company has also reported the … [Read more...] about Fund management companies’ golden age over?
Hanoi Times – The establishment of a lot of investment fund management companies nowadays had led experts to forecast about the ‘era of management companies in Vietnam’. Thousands of individual investors joined the stock market in late 2006, and at that time, people thought about the ‘age of individual investors’. However, the age of individual investors is over as a lot of them are withdrawing from the market as they have been discouraged by the continued stock falls. Meanwhile, the market is witnessing the establishment of massive institutional investors, investment funds and fund management companies. The golden age of the stock market The stock market made the big leap in late 2006 and early 2007, when the Government offered a lot of incentives to encourage the gloomy market. The VN Index once hit the 1,100 point level; the market capitalization value reached 30% of GDP, while the number of investors’ accounts once reached over 300,000. … [Read more...] about It is the age of fund management companies