Statistics show that most of the large funds on the Vietnam's stock market recorded NAVPS down by 10 percent or more in the first half of this year. (Photo: VNA)Hanoi (VNS/VNA) - Most investment funds in Vietnam’s equity marketreported negative growth in net asset value per share (NAVPS) in H1 due to astock market downturn, resulting from the impacts of the COVID-19 outbreak.
NAVPS is an expression for net asset value that represents the value per shareof a mutual fund, exchange-traded fund (ETF) or a closed-end fund. It iscalculated by dividing the total net asset value of the fund or company by thenumber of shares outstanding.
NAVPS is also referred to as the book value per share.
Since the beginning of this year, the benchmark VN-Index has declined 11 percent.The tumble of the stock market ravaged by the pandemic has made many investmentfunds suffer losses.
Statistics show that most of the large funds on the Vietnam's stock marketrecorded NAVPS down by 10 percent or more in the first half of this year.
Vietnam Holding Ltd recorded the lowest growth of NAVPS among the listed funds,at negative 16.8 percent. Earlier in the first quarter, the fund was also amongthe worst performers with NAVPS down 35 percent.
The US-listed asset management fund VanEck Vectors Vietnam ETF (VNM ETF) sawNAVPS declining 15.95 percent. The figure for FTSE Vietnam ETF was negative12.7 percent.
VEIL Dragon Capital reported NAVPS growth down 14.15 percent.
Three funds of KB Vietnam Focus Securities Feeder Investment, LionGlobalVietnam Fund and KIM Vietnam Growth Securities also reported NAVPS droppingfrom 12 to 14 percent, equivalent to the decline of VN-Index and VN30-Index.
As most of listed funds allocate their capital into the bluechips in the VN30basket, which consists of 30 companies listed on HOSE in terms of marketcapitalisation, their fluctuations in portfolios usually relates to theVN30-Index.
The best performing fund in the first half was VOF VinaCapital as NAVPS onlydropped 3 percent, much lower than the decrease of VN-Index and VN30-Index of14.14 percent and 12.35 percent, respectively, in the first half of this year.
Tundra Vietnam Fund performed quite well compared to the overall market, withNAVPS down 6.9 percent, and so did Pyn Elite Fund, with NAVPS falling by 10.7percent./.
VNA
