Dragon Capital accelerates “collecting” stocks after the period of surfing to lower the proportion

After VEIL’s cash ratio reached a record high on November 3, related fund group Dragon Capital began to “collect goods” and disburse shares.

Vietnam’s stock market is in the most difficult period since the wave of new investors landed. The recent gaining sessions have somewhat relieved investor sentiment, but it is still nowhere near the main index’s nearly 37% drop since the beginning of the year.

In contrast to the general context, foreign capital inflows were a rare bright spot in the market in the first half of November. In which, there was a significant contribution from the re-disbursement of related fund group Dragon Capital.

After the cash proportion of the largest fund managed by Dragon Capital (VEIL) reached a record high on November 3, this group of foreign funds began to “collect goods” and disburse shares.

According to statistics from the Ho Chi Minh City Stock Exchange (HoSE), in just over a week from November 3 to November 11, Dragon Capital bought in with a total volume of nearly 24 million shares.

Statistics of stock purchases of related fund groups Dragon Capital since November 3

Specifically, on November 9, foreign funds bought 300,000 FRT shares of FPT Digital Retail Joint Stock Company. After the transaction, the total ownership of Dragon Capital fund group at FRT increased to 6.2 million shares (equivalent of 5.23%) and became a major shareholder of the company. Also on 9/11, this group bought another 600,000 HDG shares of Ha Do Group Joint Stock Company, raising the ownership rate to 10.04%.

At the same time, also in the 11/11 trading session, Dragon Capital bought a total of nearly 2.6 million shares of DGC and the fertilizer giants DCM and DPM to increase their ownership ratio.

According to a report on November 3, the cash proportion of the largest fund managed by Dragon Capital, VEIL, was raised to 11.66%, a record high in recent years. Before that, Dragon Capital continuously surfed stocks with moves to restructure investments.

In addition to the state of accelerating consolidation, Dragon Capital group also sold 6.7 million shares of Saigon Thuong Tin Commercial Joint Stock Bank (code STB) in the session of October 7, 2022. On the same day, this group strongly sold 5.4 million shares of GEX. Moreover, the foreign fund sold 1 million shares of DXG of Dat Xanh Group on 11/10.

On the other hand, just within the second half of October, Dragon Capital net bought a total of 7.7 million PVD shares. After the transaction, the group’s ownership ratio increased from 7.79% to 8.09%. Until 9/11, this group of funds continued to collect PVD to raise the current ownership rate.

The move to restructure the portfolio of foreign funds took place according to a recent share with investors  ,  Dragon Capital Vietnam Fund Management Company said that the global financial market in general and the Vietnamese market From the beginning of 2022 to the present, it has not been very favorable with many unpredictable events . “As fund managers, we are focusing on improving investment efficiency, being more flexible in our portfolio restructuring strategy to suit the market situation and finding good profit opportunities. most”, Dragon Capital stated.

Statistics for the first 10 months of the year show that member funds of relative size managed by Dragon Capital are all losing money. VEIL has lost over 38% – deeper than the decline of 2 indexes VN-Index and VN30-Index. The most active Diamond ETF in the group of passive funds has also lost nearly 21% since the beginning of the year.

Duong Ngoc/Market life