On April 24, 2024, Ho Chi Minh City Stock Exchange (HOSE) officially listed 5,100,000 fund certificates of KIM GROWTH VN DIAMOND ETF (stock code: FUEKIVND) for trading, with a total listed value of VND 51 billion.
The reference price on the first trading day was VND 10,984.88, with a price fluctuation range of ±20%. At the close, FUEKIVND increased by 2.1% to VND 11,220 per FU.
FUEKIVND tracks the VN DIAMOND index – the index of Vietnamese diamond stocks announced and managed by HOSE, including a minimum of 10 and a maximum of 20 component stocks. FUEKIVND is an exchange-traded fund (ETF) managed by KIM Vietnam Fund Management Company Limited. The investment objective of the KIM GROWTH VN DIAMOND ETF is to closely track the movements of the VN DIAMOND Index with a passive investment strategy in the reference index’s structured portfolio of securities.
This is the fourth ETF tracking the VNDiamond index basket, after DCVFM VNDIAMOND ETF (FUEVFVND,规模 14.800 tỷ), MAFM VNDIAMOND ETF (FUEMAVND, 规模 hơn 500 tỷ đồng) and ETF BVFVN DIAMOND (FUEBFVND, 规模 hơn 5 tỷ đồng).
In which, the first fund tracking the diamond index basket, DCVFM VNDIAMOND ETF, attracted great attention from foreign investors and attracted the most money in the market in the initial stage of its launch. In 2022 alone, this ETF attracted nearly VND 8,000 billion, and at one point became the largest domestic fund in the market with a net asset value (NAV) of more than VND 18,000 billion.
However, since the beginning of 2023, FUEVFVND has recorded a significant slowdown, with the fund even withdrawing nearly VND 4,000 billion in 2023 and continuing to withdraw nearly VND 2,000 billion in the first three months of 2024. The decline in demand caused the scale of DCVFM VNDIAMOND ETF to drop to the second position in the market, after Fubon ETF.
Most recently, the VNDiamond index set has just conducted a review for the period of April 2023. MWG of The Gioi Di Dong was excluded; In contrast, BMP plastic industry stock is a newly added name, bringing the number of stocks in the VNDiamond basket to 18.
