Dragon Capital Vietfund Management (DCVFM) | Fund Factsheet

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DCDS – FUND PERFORMANCE

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General Information

Fund name DC Dynamic Securities Fund
Fund code DCDS
Fund Type Balanced fund
Currency VND
Inception date 2004-05-20
Conversion date 2013-10-08
Fund Manager Dragon Capital Vietfund Management (DCVFM)
Custodian Bank Standard Chartered Bank VN
Transfer Agency Vietnam Securities Depository (VSD)
Distributors See homepage dragoncapital.com.vn
Management fee Up to 2%/NAV/year
Subscription fee 0%
Redemption fee 0% - 2,5% tùy thời gian nắm giữ
Switching fee 0% - 1% tùy thời gian nắm giữ
Trading cycle Everyday (T day)
Cut-off time 14h30 on T-1 day
Dividend Annually (upon AGM approval)
Total NAV (VND bn) 1,724.5
Number of outstanding shares (mn) 24.7
12-month Expense Ratio (%) 2.1
12-month Turn-over Ratio (%) 325.8

INVESTMENT OBJECTIVES

The objective of VFMVF1 is to seek long-term earnings from equity growth and income through investing into a balanced and diversified portfolio, including equity, convertible and debt securities in Vietnam. The Fund normally invests approximately 80% of its NAV in equity and 20% in fixed income and cash. The targeting investments are growth stocks among large and midsized market capitalization stocks. The manager will apply a bottom-up approach to pick stocks in consideration of business model, long-term earning, asset value, cash flow potential and quality of management. The Fund may from time to time change the weight of equity and fixed-income investments at around +/-10% NAV from the targeted allocation to get an optimal asset mix in consideration of changes in economic market conditions.

FUND PERFORMANCE

As of: 
At the end of April, the NAV per share of DCDS decreased by 10.1% compared to the previous month due to the strong selling pressure from the market. The DCDS benchmark also fell 6.8% over the same period. Some stocks in the Fund's portfolio still managed to grow in the context of volatile market such as HAH (+21.2%), VHC (+9.7%). Hai An Transport and Stevedoring Joint Stock Company (“HAH”) is among the top growth stocks in DCDS’s portfolio. Regarding business results in 1Q2022, HAH earned VND652.4bn in revenue (+81.7% yoy), of which revenue from ship operation increased 2 times over the same period last year and reached VND635.5bn. HAH received 207.2% growth in NPAT, reaching VND262.7bn and completing 47.8% of full year guidance. Currently, DCDS holds approx. 1.5% NAV of HAH shares in its portfolio. At the end of April, DCDS held 8% of NAV as cash, besides 10.6% fixed-income securities. In the coming time, the Fund will continue to focus on sectors with sustainable growth prospects such as Banking, Real Estate and Materials.

Performance Chart

Rate of Return

As of: 
NAV/đvq & Index 1 month 3 months YTD 12 months Since Inception 

ASSET ALLOCATION BY SECTOR (% NAV)

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Top 10 holdings

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Stock Sector Exchange % NAV

ASSET ALLOCATION BY ASSET CLASS (%NAV)

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Portfolio Statistics

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Fundamental ratios DCDS VN-Index
Risk ratios DCDS VN-Index

DISCLAIMER

This document is issued by VietFund Management (VFM). The information herein is deemed reliable sources by VFM, based on published sources and VFM isn’t responsible for the accuracy of the information herein, except the information, data of Funds managed by VFM and provided in this document. This document reflects the views and assessments of the author at the time of issue, for references only and may change without notice. This document is neither a prospectus nor an offer or any commitment of VFM or Funds managed by VFM. VFM hasn’t obligation to update, revise this document in any form in the case of opinions, forecasts and estimations in this document changes or becomes inaccurate