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Funds foresee solid 2011 performance
Investment funds continue to hold high hopes for the nation's stock market this year, despite ongoing economic uncertainties.
Measures taken by State agencies to make the market more transparent, prevent market manipulation and facilitate the introduction of new investment products have boosted investor confidence in Viet Nam's stock market, said MB Capital Investment Fund General Director Phan Anh.
The economy would be more stable this year, helping the stock market post a higher growth rate, possibly as much as 20 per cent, despite pressures from high interest rates and inflation, as well as a fluctuating foreign exchange rate, Anh said.
Viet Nam Asset Management General Director Tran Thanh Tan expected funds to continue perform well as Viet Nam remained an attractive investment destination to foreign investors due to its strong economic growth.
Stocks on the domestic markets were also underpriced compared to those on other regional markets, Tan said.
The flow of foreign capital was showing signs of recovery, said Sai Gon Asset Management General Director Louis Nguyen. The market has become more transparent, with higher quality products and increasing domestic demand.
This would enable the market to continue to develop sustainably and turn in one of the world's most impressive peformances, Nguyen said.
Sai Gon Asset Management would focus on blue-chip shares and small- and medium-sized enterprises with high potential, he added.
A representative of VinaCapital, Andy Ho, said that VinaCapital funds intended to invest in major companies as well as Government bonds.
Dragon Capital has been focusing investment on consumer products, food, software and the financial sector, while Indochina Capital's ICL Holdings funds have been keen on hotels, resorts, and golf courses, as well as high-end apartment projects.
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