In just 2 months, Fubon ETF fund bought 2,200 billion Vietnamese stocks

The recent downward corrections of the VN-Index have somewhat discouraged investors in the stock market. However, in the past 2 months, Fubon ETF has been net buying 30 large stocks in its portfolio with a disbursement of up to VND 2,200 billion.

Specifically, according to data from Fubon FTSE Vietnam ETF, in the trading session on November 6, the fund issued 9 million fund certificates, equivalent to 3.3 million USD (about 80 billion VND). The entire amount was disbursed to buy stocks on the Vietnamese stock market.

In just 2 months, Fubon ETF has bought 2,200 billion Vietnamese stocks, image 1 — Fubon ETF Fund disbursed 2,200 billion to buy Vietnamese stocks in just the past 2 months (Photo TL)

Since September 19, Fubon ETF has absorbed a net of 88.5 million USD, equivalent to disbursing 2,200 billion VND to buy Vietnamese stocks. This move is completely opposite to the market developments when VN-Index had strong corrections.

From the peak of 1,250 points from mid-September to the present, in the trading session on November 7, 2023, VN-Index is at 1,089 points, equivalent to losing nearly 13% of its value in just 2 months.

Regarding the stocks in the portfolio, Fubon ETF continuously net bought 30 large stocks with the main focus on steel, real estate and banking stocks.

Established in March 2021, the Fubon FTSE Vietnam ETF is an exchange-traded fund with a scale of nearly NT$26 billion, equivalent to about VND19,600 billion. The fund invests entirely in Vietnamese stocks according to the FTSE Vietnam 30 Index.

The fact that Fubon ETF has attracted strong capital to buy Vietnamese stocks in recent times also partly shows an optimistic view of the market. This is considered a signal to help domestic investors relieve their psychology after the strong market corrections in recent times.

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