Investment funds kept buying in stocks in January even though the market was turbulent. — Photo tapchitaichinh.vn HÀ NỘI — Despite negative performance due to strong fluctuations in Việt Nam's stock market in January, big investment funds in the market remain optimistic. Việt Nam Enterprise Investments Limited (VEIL), a closed-end investment trust managed by Dragon Capital and the biggest investment fund in Việt Nam's stock market, recorded negative growth during the period. The fund's performance was negative 3.61 per cent in January. VEIL manages assets worth US$1.7 billion. As of the end of January, VEIL's biggest investments were in banking sectors, accounting for 27.13 per cent of its investment value. Followed by investments in real estate (26.43 per cent) and food and beverage (10.17 per cent). However all investing sectors had poor performance with banking and real estate sectors posting the biggest losses. After gaining points in the first half of January, the stock market witnessed some strong corrections as profit booking dragged down the VN-Index. The profit taking was magnified by panic over margin calls. The market benchmark VN-Index declined 4.28 per cent in the first month of 2021. Dragon Capital said that recently, the fund restructured its investment process with the number of… Read full this story
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