Vietnam's Biggest Fund Says It's Time to Buy After Stock Rout
- Shares rebound from 13-month low, halting four-day slide
- Stock valuations are near the lowest level since August
Customers shop at the Cho Hom market in Hanoi, Vietnam on Thursday, July 28th, 2011. The market sells produce, clothing and household goods. Photo by Justin Mott/Bloomberg News Service =======================Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, the country's biggest listed bank by market value.
Photographer: Justin Mott/BloombergThis article is for subscribers only.
Vietnam’s largest fund manager is boosting his equity holdings, saying the benchmark gauge’s recent slump to a 13-month low has made stocks attractive.
Andy Ho, managing director and chief investment officer at VinaCapital Group, said he favors property and consumer companies, as Vietnam’s economy will continue to expand despite the global downturn. He declined to say which companies he’s buying.