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?
Grosvenor fund management
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?
Foreign, local fund managers ink deal By Thuy Trieu - The Saigon Times Daily HCMC - Vietnam's Hanoi Fund Management yesterday inked a deal with Cayman Islands' Saigon Asset Management to assist the latter in seeking business opportunities in Vietnam. Under the agreement, the local fund manager will help the partner, which currently manages two Frankfurt-listed investment funds Vietnam Equity Holding and Vietnam Property Holding, to make market research and identify opportunities on the local market. These services are aimed to help Vietnam Equity Holding in better penetrating Vietnam. Louis Nguyen, chairman and CEO of the foreign fund manager, said that by working with Hanoi Fund Management, his company would be able to utilize the strengths of the local fund manager, who has an outstanding team as well as backing from the Military Commercial Joint Stock Bank. This bank holds a major stake in this local fund manager. Nguyen Hai Ha, chief representative officer of the local fund … [Read more...] about Foreign, local fund managers ink deal
ACE Life opens fund management company in city Thuy Trieu By Thuy Trieu - The Saigon Times Daily HCMC - ACE Life Insurance Co. Ltd. (ACE Life Vietnam) on Tuesday announced the establishment of its fund management company in HCMC named ACE Life Fund Management Company (ACE Life FMC), which is also the company’s first in Asia. The fund management company received a license from Vietnam’s State Securities Commission on Monday, three months after the life insurer received approval in principle for establishing a fund manager during the U.S. visit of President Truong Tan Sang in July 2013. ACE Life FMC will support ACE Life, part of ACE Group, to optimize results of its investment activities. The fund manager also helps to achieve ACE Life’s plans of developing pension products and unit-link products, enhancing professional investment activities, raising funds and attracting investment from individual and institutional investors. Kevin Goulding, regional president of … [Read more...] about ACE Life opens fund management company in city
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