The total net asset value (NAV) of 17 stock investment funds announced by LCF Rothschild increased averagely 16.2 percent to reach $2.4 billion in the first quarter of 2012.
According to LCF Rothschild’s updated report on April 3, 17 foreign investment funds in Vietnam’s stock market posted the average growth of NAV at 16.2 percent from early this year so far while the VN Index of Hochiminh Stock Exchange (STC) gained up to 26.6 percent in the quarter.
The strongest gains belonged to two ETF funds namely Market Vectors Vietnam (29 percent) and FTSE Vietnam Index (27.2 percent). Two funds managed by PXPAM, including PXP Vietnam and Vietnam Emerging Equity, posted the growth of 25 percent and 26 percent respectively.
Funds managed by Dragon Capital gained an average growth of 21 percent in Q1, of which, VGF fund grew 20.7 percent and VEIL grew 22.4 percent. Funds run by VinaCapital posted the lowest growth (as of the end of February 2012) with VOF at 9.4 percent and VNI at -1.3 percent.
These 17 funds have the average discount ratio of 20.3 percent against their NAV, of which, two funds of VinaCapital posted the discount rates of 40 percent and 34.4 percent and funds of Dragon Capital posted the discount rate of 14 percent.
The biggest discount rate belonged to DWS Vietnam with 40.4 percent. This fund posted a gain of 10.3 percent in the first two months of this year. This fund posted the third biggest value with $214 million amongst 17 investment funds being announced by LCF Rothschild.
Currently, VOF of VinaCapital posted the biggest NAV with $773 million. Two funds of VEIL and VGF of Dragon Capital posted NAV at $411 million and $209 million. The total NAV of these 17 funds reached $2.4 billion.
Other foreign investment funds under the investment groups of Fix Income and Private Equity (PE) posted negligible NAV growth in Q1 2012.
Meanwhile, real estate investment fund namely Vietnam Property Holding Fund of Saigon AM saw another decline of 13 percent in the first three months of this year. Four remaining real estate investment funds have not updated NAV yet. The total value of these five real estate investment funds reached $850 million worth NAV, of which, VNL of VinaCapital posted the biggest figure of $600 million.