DCDE – 01/2024
In January 2024, the market witnessed growth, primarily driven by the Finance sector (+6.5%), with Banking standing out. Banks have reported their financial results for 2023, indicating a positive recovery, particularly among State-owned banks. Notable among the holdings in the DCDE fund’s portfolio is the Bank for Investment and Development of Vietnam (“BID”), which recorded a consolidated pre-tax profit of VND 27,649 billion for 2023, marking a remarkable 20.6% increase compared to the previous year; post-tax profit also surged by 20% to VND 22,027 billion. By the end of 2023, BIDV’s total assets had reached VND 2.3 quadrillion, an 8.5% increase from the beginning of the year, maintaining its position as the largest bank in Vietnam. Thanks to this impressive business growth, BID’s shares also increased by 9.9% this month.
The DCDE fund’s Net Asset Value (NAV) experienced a solid 1.9% rise in January. While the fund’s growth was slower compared to the VN-Index (+3.0%), it exhibited a substantial 14.2% increase over the past year, outperforming the VN-Index by 9.4%.
The Fund expects a positive recovery trend in the business results of companies. DCDE’s investment strategy continues to focuses on stocks of companies with a history of regular dividend payments that align with the business cycle. The fund is particularly interested in industries with consistent dividend payments; such as Banks, Securities, and Energy.
