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An open-ended fund is a form of indirect securities investment. Instead of investors investing in securities directly, they can invest money in Open-ended Funds.

An open-ended fund is an investment form in which many investors contribute capital and entrust it to a fund management company, where the Fund's experienced investment experts will invest money in securities (stocks or bonds) are screened and selected based on business fundamentals and stock/bond valuation in the market, helping to bring profits to investors in the medium and long term.

When an investor invests in an open-ended fund, the investor will own a certain number of fund certificates corresponding to the amount invested and the actual purchase price at the transaction date. Over time, the securities in the fund's portfolio change, making the price of fund certificates also change, investors can sell part or all of the fund certificates they already own to collect money.

The establishment and operation of the Open Fund are regulated by the Ministry of Finance according to Circulars No. 98/2020/TT-BTC and No. 99/2020/TT-BTC. The State Securities Commission is the licensing agency for the establishment of Open Funds. Open-ended funds are closely monitored by the SSC, Fund Representative Board, custodian banks and auditing companies to ensure the interests of investors. Financial statements, net assets, prices of fund certificates of the Open Fund are always published on the website of the fund management company and the State Securities Commission.

The open-ended fund is liquid, so investors can withdraw part or all of the investment amount from the Fund at any time when needed.

Funds/Investors' assets are deposited, managed & supervised at the Fund's Custodian Bank - Fund Management Company and Distribution Agents do not hold investors' money and assets.

In case the fund management company has to stop operating for some reason, the money of the investors of the Open-ended Fund is frozen at the custodian bank, the General Meeting of Investors will convene to select the management company. The new fund manager continues to manage that fund.

Open-ended fund for investors wishing to:

  • Want to diversify into a portfolio with small capital and low cost.
  • Want to invest for the long term while not having enough resources for daily stock analysis.
  • Want a disciplined and convenient investment product managed by a team of experienced professionals.

Unlike closed-end funds, open-ended fund certificates are not listed on the stock market. When there is a need to buy/sell fund certificates, investors can trade directly with the Fund Management Company or the Fund's designated Distribution Agents.

Each Open-ended Fund is an investment product and has no definite life-time.

As soon as investors determine their financial goals. Everyone has different financial goals depending on the stage of life. Saving and investing will help investors achieve their financial goals. Depending on the goal, the investor will have a specific investment strategy.

Investors should start regular and disciplined investing early to achieve their financial goals in the future.

Under the current regulations. The Fund Management Company will be responsible for re-purchasing all open-ended fund certificates at the request of investors at the price at the transaction date of the sell order minus the selling fee (if any).