ETFs attracts capital despite COVID-19 resurgence
Despite the COVID-19 resurgence, exchange-traded funds (ETFs) still attracted hundreds of billions of đồng in the second half of July.
Despite the COVID-19 resurgence, exchange-traded funds (ETFs) still attracted hundreds of billions of dong in the second half of July.
The Viet Nam's stock market has faced a gloomy period since the resurgence of community COVID-19 transmission in Da Nang City on July 24.
The VN-Index has fallen sharply from 870 points to below 800 points, equivalent to a decline of more than 8 per cent in just half a month.
Still, the major ETFs on the market such as Vaneck Vectors Vietnam ETF (VNM ETF), FTSE Vietnam ETF, VFMVN30 ETF, VFMVN Diamond ETF and SSIAM VNFin Lead ETF drew nearly VND500 billion (U$21.3 million).
VNM ETF attracted $9.16 million. The proportion of Vietnamese stocks currently accounts for about 70 per cent of VNM ETF’s portfolio, so it is estimated that the fund net bought $6.4 million of Vietnamese stocks over the past two weeks.
FTSE Vietnam ETF also lured $2.8 million in the second half of July. This fund drew $6.3 million in the whole month.
The largest domestic ETF in the market, VFMVN30 ETF, also attracted capital of $2.8 million in the second half of July.
Other domestic ETFs such as VFMVN Diamond ETF and SSIAM VNFin Lead ETF drew $3.2 million and $4.3 million in the second half of July, respectively.
With the ETFs attracting capital and the inception of new funds such as SSIAM VN30 ETF or VinaCapital VN100 ETF, market sentiment can be improved in the context of complicated COVID-19 pandemic. — VNS
