Time limit for disclosing other periodic information of the public fund in Vietnam

17:30, 10/12/2020

This is a notable content of the Circular No. 96/2020/TT-BTC of the Ministry of Finance of Vietnam providing guidelines on disclosure of information on securities market, issued on November 16, 2020.

Vietnam: Securities companies must disclose information on their operation 03 continuous issues of a printed newspapers / Vietnam: When does the securities companies have to disclose information within 24 hours? / Vietnam: Organizations making public offering of corporate bonds shall disclose information about the progress of use of funds every 06 months / Public company must disclose information about foreign holdings on Vietnam’s securities market / 18 cases that the public company must disclose information within 24 hours on Vietnam’s securities market / Regulations on periodic information disclosure of a public company in Vietnam / Vietnam: Authorization for information disclosure on securities market is permitted / 05 information disclosure rules on Vietnam’s securities market

Specifically, according to Article 26 of the Circular No. 96/2020/TT-BTC of the Ministry of Finance of Vietnam, disclosure of periodic information about public funds includes:

- Financial statements: The securities investment fund management company must disclose annual financial statements audited by accredited audit organizations, reviewed half-year financial statements and quarterly financial statements of the fund. Contents of financial statements shall comply with accounting regulations applicable to relevant funds. The time limit for disclosure of financial statements shall comply with Clauses 1, 2 and 3 Article 14 of this Circular.

- Investment reports: The securities investment fund management company shall monthly, quarterly and annually report and disclose reports on investments made by the fund in accordance with regulations on operation and management of securities investment funds.

- Reports on net asset value: The securities investment fund management company shall disclose reports on changes to the net asset value of the public fund every week and disclose the fund's net asset value on the day following the valuation date in accordance with regulations on operation and management of securities investment funds.

- Summary report on fund management: The securities investment fund management company shall disclose summary reports on fund management of a public fund on biannual and annual basis in accordance with regulations on operation and management of securities investment funds.

Moreover, the securities investment fund management company shall disclose information about the General Meetings of Investors of the public fund according to regulations applicable to the General Meeting of Shareholders (GMS) of public companies prescribed in Clause 3 Article 10 of this Circular.

Particularly, notwithstanding the above-mentioned provisions, the securities investment fund management company shall fulfill other obligations to disclose information of a securities investment fund in accordance with regulations on operation and management of securities investment funds. Except the financial statements prescribed in Clause 1 Article 26 of the Circular No. 96/2020/TT-BTC, the time limit for disclosing other periodic information of the public fund is determined as follows:

- Information to be disclosed weekly shall be disclosed on the first day of the following week or on the day following the valuation date (regarding an open-end fund);

- Information to be disclosed monthly shall be disclosed within 05 working days from the end of the latest month;

- Information to be disclosed quarterly shall be disclosed within 20 working days from the end of the latest quarter;

- Information to be disclosed biannually shall be disclosed within 45 days from the end of the latest 06 months (half of year);

- Information to be disclosed annually shall be disclosed within 90 working days from the end of the latest year.

View more details at the Circular No. 96/2020/TT-BTC of the Ministry of Finance of Vietnam, effective from January 01, 2021.

Le Vy

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