Illustrative image (Photo: Internet) Hanoi (VNS/VNA) – Investment funds involved in Vietnam's equity market reported positive growth in net asset value (NAV) in August due to a stock market upturn. The VN-Index enjoyed an increase of 10.43 percent in August, reaching 881.65 points. This was also reported as the strongest increase among markets around the world, according to statistics from Stock. The local exchange-traded fund VFMVN Diamond ETF, operated by the Vietnam Fund Management Co (VFM), had a NAV of 1.9 trillion VND (81.6 million USD) as of the end of August. In August alone, the NAV per certificate increased 16.7 percent, reaching more than 12,724 VND. This fund focuses on stocks that have reached their limit of foreign ownership. Many of those stocks recorded high price increases in August such as Mobile World Group (MWG), Refrigeration Electrical Engineering Corporation (REE), Phu Nhuan Jewelry (PNJ), logistics firm Gemadept Corporation (GMD), FPT Corporation (FPT), Vietinbank (CTG) and Techcombank (TPB). The SSIAM VNFIN LEAD, managed by SSI Asset Management Co Ltd (SSIAM), had initial capital of VNĐ262 billion which had risen to 779 billion VND by the end of last month. In August alone, the fund’s NAV per certificate increased by 14.4… Read full this story
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