Vietnam: Cases that securities investment fund management company must disclose information about a public fund on an ad hoc basis within 24 hours

Specifically, according to Article 27 of the Circular No. 96/2020/TT-BTC of the Ministry of Finance of Vietnam, the securities investment fund management company shall disclose information about a public fund on an ad hoc basis within 24 hours from the occurrence of any of the following events:

+ Ratification of decisions of the General Meetings of Investors;

+ Decisions on change to the charter capital of the closed-end fund;

+ Issuance or revocation of the certificate of public offering of public fund certificates;

+ Suspension or cancellation of the offering of public fund certificates; unsuccessful offering of public fund certificates;

+ Revision to the charter or prospectus;

+ Decision on consolidation, merger, partial or full division, dissolution, change of operating period, or liquidation of assets of the public fund;

+ Issuance of certificate of fund establishment; decision on revision of the certificate of fund establishment;

+ Disclosure of record date, date of exercise of rights of investors or the fund;

+ Incorrect determination of the net asset value of the public fund;

+ Change of the fund's name, supervisory bank, securities investment fund management company; changes in authorized participants, market makers (regarding ETFs);

+ Excess of investment limits and adjustment of deviation of investment portfolio of the public fund;

+ Suspension of exchange transactions or tracking error exceeding the permissible limit (regarding ETFs); 

+ The cases prescribed in Points a, dd, g, l, n and o Clause 1 Article 11 of this Circular.

- The securities investment fund management company must disclose information about the extraordinary General Meeting of Investors or collection of opinions of the General Meeting of Investors by questionnaire survey according to Clause 3 Article 11 of this Circular.

- The securities investment fund management company must disclose other ad hoc information about the public fund in accordance with regulations on operation and management of securities investment funds.

- When disclosing information about the events prescribed in Clauses 1, 2 and 3 of this Article, the securities investment fund management company must disclose the event, reasons, plans and remedial solutions (if any).

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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