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Two foreign ETFs likely to add more stocks in Q2 restructuring
Two of the biggest foreign exchange-traded funds (ETFs) in Viet Nam, FTSE Vietnam Swap UCITS ETF (FTSE ETF) and VanEck Vectors Vietnam ETF (VNM ETF), will release their portfolios for the second quarter of this year.
According to SSI Research's forecast, shares of Sai Gon – Ha Noi Commercial Joint Stock Bank (SHB), Nam Long Investment Corporation (NLG) and Vinh Hoan Company (VHC) may be added to the FTSE Vietnam Index, while An Phat Holdings (APH) may be excluded in the second quarter structure.
ETFs are about to restructure their portfolios in the second quarter of 2022. The two index groups of FTSE and MV Index Solutions (MVIS) will need to complete their portfolio structure on June 17, while the MSCI indexes have an earlier restructuring schedule, on May 31.
Assuming the above changes, the index portfolio will include 31 stocks. Total assets of the FTSE ETF on May 23 reached US$275 million. SSI Research gives an estimate of the weight of the FTSE Vietnam Index portfolio and the trading of the FTSE ETF.
In the next restructuring period, this ETF can buy more than 7 million shares of SHB, nearly 1.7 million shares of NLG and more than 700,000 shares of VHC. Meanwhile, most of the stocks in the FTSE ETF's portfolio will be sold. APH is forecasted to sell 1.5 million shares.
The MVIS fund will announce the results of the second quarter portfolio structure of the MVIS Vietnam Index - the base index of the VanEck Vectors Vietnam ETF (VNM ETF) on June 10. For VNM ETF, the fund will trade during June 13 -17.
Based on updated data on May 23, SSI Research forecasted that no stocks will be added to the MVIS Vietnam Index portfolio in this restructuring period.
The MVIS Vietnam Index portfolio will have 56 stocks, of which there are 42 listed stocks in Vietnam and 14 related foreign stocks. The total asset value of the VanEck Vectors Vietnam ETF on May 23 reached $404 million.
The Yunta Securities Company also provided forecasts on the two funds. With the FTSE ETF, according to Yuanta's estimate, only SHB and NLG which are the two stocks that meet the criteria, will be bought 15.3 million shares and 4.7 million shares respectively.
With the VNM ETF, Yuanta forecasts that the fund will buy three new stocks, including SHB, FPT Securities Joint Stock Company (FTS) and Viglacera Corporation (VCG). This VNM ETF could buy 13.8 million SHB shares with a value of more than VND200 billion. They could buy 4.5 million VCG shares and 1.8 million FTS shares.
SHB stock that is forecasted to be bought the most in the upcoming restructuring period, is currently trading at more than VND15,000 each, up 12 per cent from last week's bottom. SHB is also one of the top net-buying stocks by foreign investors recently. The two ETFs are expected to buy more than 29 million SHB shares in the second quarter of the year.
The average liquidity of SHB shares from the beginning of the year so far has reached more than 10.6 million shares per trading session. In May alone, the average liquidity of the session reached nearly 11 million shares.
In the first quarter of 2022, SHB’s profit reached VND3.2 trillion, posting 94 per cent year-on-year increase. Its total assets reached VND515.5 trillion, up 1.8 per cent compared to the beginning of the year.
In 2022, SHB sets a target of total assets growth of more than 12 per cent, charter capital growth of 37 per cent, before-tax profit is expected to be at least VND11.7 trillion, up 87 per cent over 2021. It plans to pay dividend in 2022 at 18 per cent. The two most important financial indicators are mobilised capital and total credit balance are expected to increase by 9.8 per cent and 14.4 per cent, respectively, to reach VND504.5 trillion and VND421.7 trillion by the end of this year.
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