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Prudential Fund says investing more in Vietnamese Bonds
This year, The Prudential Fund Management Company (BF1) will continue investing in Vietnamese bonds, the most potential investment channel among cash, shares and bonds this year, the Securities Investment newspaper reported quoting.
BF1 General Director Pham Ngoc Bich as saying. BF1 will keep only 10% cash in its account, Bich said. If the world economy recovers in 2010, stock markets, including Vietnam, will recover six months sooner, he noted. The net asset value (NAV) of Prudential Fund fell 30% in 2008, while the VN-Index, the key stock index in Vietnam, suffered a loss of 69% in its value last year, and many foreign funds suffered a loss of 60% - 70% in their NAVs, Bich said. Although investors are now pessimistic about the outlook of the market, some securities companies have also optimistic about the market's recovery in the second half of this year.
Securities Investment Online
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