03 Principles for determination xem bóng đá trực tiếp vtv2 net asset value xem bóng đá trực tiếp vtv2 securities investment fund in Vietnam

Regarding this matter, LawNet would like to answer as follows:

1. Principles for determination xem bóng đá trực tiếp vtv2 net asset value xem bóng đá trực tiếp vtv2 securities investment fund in Vietnam

Currently, the net asset value or a securities investment fund shall be determined by the fund management company and confirmed by the supervisory bank; the net asset value xem bóng đá trực tiếp vtv2 the private fund shall be confirmed by the supervisory bank or depository bank.

Accordingly, Clause 2, Article 106 xem bóng đá trực tiếp vtv2 thexem bóng đá trực tiếp9stipulates that the net asset value xem bóng đá trực tiếp vtv2 securities investment fund shall be determined as follows:

- Prices xem bóng đá trực tiếp vtv2 listed and registered securities shall be closing price or average price xem bóng đá trực tiếp vtv2 the latest trading date before the valuation date;

- For securities mentioned in Point a xem bóng đá trực tiếp vtv2 this Clause that are not traded for more than 15 days before the valuation dates, and securities other than those mentioned in Point a xem bóng đá trực tiếp vtv2 Clause 2, Article 106 xem bóng đá trực tiếp vtv2 thexem bóng đá trực tiếp, the valuation shall be based upon the valuation process and method specified in the fund’s charter.

The valuation process and method must be confirmed by the supervisory bank, and approved by the fund’s representative board and General Meeting xem bóng đá trực tiếp vtv2 Investors. The valuating parties must be independent from the fund management company and the supervisory bank or depository bank;

- Liquid assets including dividends and interests shall have the values written on the accounting books on valuation date.

At the same time, the net asset value xem bóng đá trực tiếp vtv2 a securities investment fund shall be periodically published regarding the following contents:

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

- Reports on changes to the net asset value;

- Investment reports;

- Summary report on fund management.

Thus, determining the net asset value xem bóng đá trực tiếp vtv2 a securities investment fund must comply with the following principles:

+ Prices xem bóng đá trực tiếp vtv2 listed and registered securities shall be closing price or average price xem bóng đá trực tiếp vtv2 the latest trading date before the valuation date;

+ For securities that are not traded for more than 15 days before the valuation dates, and securities other than those mentioned above, the valuation shall be based upon the valuation process and method specified in the fund’s charter. The valuation process and method must be confirmed by the supervisory bank, and approved by the fund’s representative board and General Meeting xem bóng đá trực tiếp vtv2 Investors. The valuating parties must be independent from the fund management company and the supervisory bank or depository bank;

+ Cash assets such as dividends, bonds, and interest are calculated according to their value on the accounting books at the time xem bóng đá trực tiếp vtv2 determination.

2. How to handle cases detection xem bóng đá trực tiếp vtv2 miscalculation xem bóng đá trực tiếp vtv2 net asset value(NAV) in Vietnam?

The fund management company may authorize the supervisory bank to calculate the fund’s NAV, the NAV per creation unit and the NAV per fund certificate.

In this case, the fund management company and the supervisory bank must adopt appropriate mechanism and procedures for comparing, reviewing and inspecting to ensure that the NAVs are accurately calculated according to the fund’s charter, valuation manual and relevant laws.

Upon detection xem bóng đá trực tiếp vtv2 miscalculation xem bóng đá trực tiếp vtv2 NAV, the fund management company and supervisory bank need to handle it according to the provisions xem bóng đá trực tiếp vtv2 Clauses 9 and 10, Article 20 xem bóng đá trực tiếp vtv2Circular 98/2020/TT-BTCas follows:

- Within 24 hours from the detection xem bóng đá trực tiếp vtv2 miscalculation xem bóng đá trực tiếp vtv2 NAV, the supervisory bank must notify and request the fund management company to promptly correct the NAV or vice versa in case the NAV is calculated by the supervisory bank.

- Within 05 working days from the detection xem bóng đá trực tiếp vtv2 miscalculation xem bóng đá trực tiếp vtv2 NAV, the fund management company or supervisory bank (if the NAV is calculated by the supervisory bank) shall correct the NAV and disclose information as prescribed, and notify SSC xem bóng đá trực tiếp vtv2 such miscalculation, including the causes and time xem bóng đá trực tiếp vtv2 miscalculation and taken remedial actions. This notification must bear certifications xem bóng đá trực tiếp vtv2 both the fund management company and supervisory bank.

Thus, upon detection xem bóng đá trực tiếp vtv2 miscalculation xem bóng đá trực tiếp vtv2 NAV, the fund management company and supervisory bank need to handle this situation as follows:

- Within 24 hours xem bóng đá trực tiếp vtv2 detecting the miscalculation, the supervisory bank notifies and requests the fund management company or vice versa to adjust the NAV.

- Within 5 working days from the date xem bóng đá trực tiếp vtv2 detecting the miscalculation, the party determining the net asset value must correct the NAV and disclose information and at the same time notify SSC xem bóng đá trực tiếp vtv2 such miscalculation, including the causes and time xem bóng đá trực tiếp vtv2 miscalculation and taken remedial actions. This notification must bear certifications xem bóng đá trực tiếp vtv2 both the fund management company and supervisory bank

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