Dragon Capital Vietfund Management

Dear Valued Investors,

Dragon Capital Vietfund Management would like to update the newest information on our bond funds as follows:

• Fund Unit price movement:

– On 5^th Dec 2022, DCIP Fund slightly decreased by 0.02% vs the 4^th Dec. The YTD return is 2.48%.

– On 1^st Dec 2022, DCBF decreased by 1% vs the 24^th Nov. The YTD return is 4.42%.

• As we have mentioned earlier, the fund unit prices declined following redemption trend of investors seeking for channels with better return. In particular,  with the competitive increase of deposit rate these days, investors are more likely to compare and reconsider their investment at bond funds. We fully respect all decisions of investors and try our best to ensure the liquidity for the funds as stated in the fund prospectus. However, the preparation for liquidity within the context of a difficult market also affects the return of the bond funds.

• The bond market has gone through 2 tough months.  The liquidity of corporate bonds has been involved and resolved by many parties including issuers and authorities but given the current changing interest rate circumstance as well as the coming maturity of many bonds, the market still faces with potential vulnerability. Our fund managers always comply with a strict process in bond selection and monitoring. The bonds in our portfolio are listed or guaranteed by assets, none of them involves or relates to the issuers with recent wrong practices. However, the liquidity risk varies with time and is hard to predict.      

We will closely monitor the situation to better keep investors informed and supported, respecting all of your decisions in this period. We sincerely thank you for your support and hope that we continue to be your companion on investment journey.