ABF attends VSD’s year-end meeting of fund service activities in 2019

On November 8th, 2019, ABF sent representatives to attend the “Year-end meeting of fund service activities in 2019” organized by Vietnam Securities Depository Center (VSD) in Da Lat City.

The statistics released by VSD at the Conference showed that Vietnam's fund industry has been experiencing positive growth and bright prospects, especially for open-ended fund products. Mr. Duong Van Thanh, General Director of VSD said: “Currently VSD provides services to 33 funds, including 28 open funds, 2 ETFs and 3 closed funds. The total net asset value (NAV) of open funds has grown over the years, currently the total NAV of 28 open funds reached VND 21,120 billion.” By the end of September 2019, the 28 open-ended funds were having 111,000 active accounts, 12 times the number of active accounts in 2015 - according to Ms. Nguyen Thi Thu Hang, Head of VSD Fund Services. Particularly in 2019, VSD recorded nearly 35,000 new accounts, while only 900 accounts were currently closed, this shows the great interest of investors in open-ended fund products. In 2019, the number of new open funds in operation is 6 funds, 2 times higher than the number of new open funds operating in 2018.

Speaking at the Conference, Mr. Nguyen Son - Chairman of VSD's Board of Directors said: “Vietnam is a country with a young fund industry compared to other countries in the region, a latecomer but has experienced strong growth year by year, especially with a full range of closed-end fund, open-end funds, ETFs funds products, and voluntary pension fund in the near future, which is contributing and will contribute to the overall development of the securities industry”.