Dragon Capital introduces new stock index

Fund managers Dragon Capital Group unveiled on Sept. 27 the Dragon Capital VN30 Index comprising 30 shares based on their market capitalisation, liquidity, and other criteria.

The companies in the index are all traded on one of the country’s three markets – the Ho Chi Minh City Stock Exchange, Ha Noi Securities Trading Centre, and the informal over-the-counter market. The index tracks the shares daily.

The companies are mostly in the real estate, insurance, banking, food and beverage, energy, and distribution sectors.

Among them are Asia Commercial Bank, Vietnam Insurance Corp., Sacombank, Vinamilk, Saigon Securities Company, and Pha Lai Thermal Power.

The index, which actually comprises two different indices meant for foreign and local investors – DC VN30 Foreign and DC VN30 Domestic – is recognised at the end of each quarter for changes.

Dragon Capital has actually been using this index since 2004 for its internal purposes.

Its managing director, Dominic Scriven, said he hoped to contribute to the diversification and development of the Viet Nam’s stock market through the launch of the new index.

Dragon Capital, set up in 1994 as an investment bank focused on the Viet Nam capital market, manages four foreign funds investing in Viet Nam.

It also provides consultancy for listing, equitisation, and mergers and acquisition, and research services.

VNA