Vietnam’s securities investment funds hold huge potential: SSC
Securities investment funds in Vietnam have ample room for growth if they effectively promote current results and implement goals and solutions in a substantial way with a roadmap in accordance with the country's international integration and situation, according to the State Securities Commission of Vietnam (SSC).
Securities investment funds in Vietnam have ample room for growth (Illustrative photo: tinnhanhchungkhoan.vn)
Hanoi (VNA) – Securities investment funds in Vietnam have ample room for growth if they effectively promote current results and implement goals and solutions in a substantial way with a roadmap in accordance with the country's international integration and situation, according to the State Securities Commission of Vietnam (SSC).
The scale of management assets of fund management firms is targeted to make up about 6-10 percent of the gross domestic product (GDP) by 2030. The SSC is also keen to develop and diversify types of stock funds and open the asset management market in accordance with a committed roadmap, together with sharpen competitive edge of fund management in Vietnam.
The SSC said that the growth of fund management firms and securities investment funds are commendable with contributions to the sustainable development of Vietnam’s stock market, while the development potential of securities investment funds in the country remains high.
Despite difficulties and challenges, fund management has made contributions to the development of Vietnam’s stock market. By late 2020, the total management assets of fund management companies made up 5.5 percent of the country’s GDP. The percentage was lower than that of other countries in the region.
Some reasons behind the low percentage include investors’ mindset of investing independently and opening bank saving accounts with stable interest rates instead of entrusting their money to investment funds managed by financial experts.
In the coming time, to bolster development of fund management firms and securities investment funds in Vietnam, the SSC believed that it is necessary to fulfil targets and improve the efficiency of fund management companies in a bid to ensure their capacity and financial safety, among others.
In the 2011-21, legal framework for activities of fund management companies and securities investment funds was amended, with new models added, signaling the growth of the sector in Vietnam.
The establishment of securities𓆉 investment funds was sped up in the period, with the numbe🐈r of the funds figure tripling to 62 in September 2021 from just 23 recorded 10 years earlier./.
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Securities investment funds in Vietnam have ample room for growth (Illustrative photo: tinnhanhchungkhoan.vn)
