DCBF_Monthly Update_Dec 2023
As at 31 Dec 2023, the net asset value of DCBF Fund units (NAV/unit) was VND 25,389.6, an increase of 1.1% compared to end of Nov 2023, and 9.10% YTD. The return in December was the highest among 12 months of 2023. For both the month and YTD, DCBF outperformed the average 12-month deposit rates of the four biggest banks, which rose by 0.4% and 6.7% over the same period, respectively. The total net asset value and total assets of the Fund as at 31 Dec 2023 was VND 451.6bn and VND 497.1bn, respectively.
In Dec 2023, DCBF executed some transactions related to corporate bond (CB) and Government bond (VGB), and thereby decreased exposure to CBs while increasing VGB position and cash and cash equivalent portion. As at 31 Dec 2023, CBs made up the largest portion of the DCBF portfolio (69.7% compared to 85.3% as at end of Nov 2023; of which 30% for tenors less than 1 year), followed by cash and bank deposits combined (14.0% compared to 3.7% as at end of Nov 2023), VGB (8.9% compared to 2.4% as at end of Nov 2023) and CDs (7.4% compared to 8.6% as at end of Nov 2023). The average remaining maturity of the portfolio is about 1.8 years. The current portfolio has a good reinvestment rate and is expected to remain stable in the coming months.
2023 was a good performance year for DCBF. The management of DCBF would like to thank investors for accompanying DCBF in 2023 and wish investors good health, joy and prosperity in the year of the Dragon in 2024.
