Do fund management companies have to disclose information quarterly in Vietnam?

1. Do fund management companies have to disclose information quarterly in Vietnam?

Pursuant to Clause 1, Article 123 of the Securities Law 2019 stipulates that fund management companies in Vietnam shall disclose the following information:

a) Audited annual financial statements, biannual financial statements examined by accredited audit organizations; quarterly financial statements;

b) Prudential ratio reports examined on June 30 and audited on December 31 by accredited audit organizations;

c) Annual reports;

d) Company administration reports;

dd) Resolutions of Annual General Meetings of shareholders of joint-stock companies;

e) Other information prescribed by law.

According to this Article, instead of quarterly, fund management companies in Vietnam shall disclose periodically information in the above cases.

2. When must fund management companies disclose information on an ad hoc basis in Vietnam? 

Pursuant to Clause 2, Article 124 of the Securities Law 2019 stipulates that fund management companies disclose information on an ad hoc basis in the following cases:

2. The fund management company shall disclose information on an ad hoc basis in any of the following events:

a) Ratification of decisions of the General Meetings of Investors;

d) Change to charter capital of the closed-end fund;

c) Revocation of the certificate of public offering of public fund certificates;

d) Suspension, cancellation of the public offering of public fund certificates; unsuccessful offering of public fund certificates;

dd) Revision to the charter or prospectus;

e) Changes or addition of internal actors of the public fund; charges against internal actors of the public fund;

g) Decision on consolidation, merger, division, dissolution, change of operating period, liquidation of assets of the public fund;

h) Other events prescribed by the Minister of Finance.

Best Regards!