DCIP_Monthly Update_June 2022
As of 30 June 2022, the net asset value of DCIP Fund units (NAV/Unit) was VND 9,965.28 VND/ unit, increased by 0.52% compared to end of May 2022 and 3.02% Ytd. For June 2022 and Ytd, DCIP outperformed its internal reference index (the average 3months deposit rates of the 4 biggest banks, at competitive level of 3.38%pa.) which increased 0.85% and 1.72% for the same periods respectively.
During the month, thanks to new subscription the fund had increased the portion of listed bonds by bought 3 listed and 1 unlisted corporate bonds, then sell 1 corporate bonds and 1 corporate bond martured, At end of June, the exposure on corporate bonds was at 66%NAV (reduced from 72.92%NAV due to rising new subscription ), 19.89% in cash and bank deposits (increased from 10.1%NAV) and 14.23% in certificate of deposits (slightly downed from 16.72%NAV).
The corporate bonds are selected based on methodologies and procedures which can help to find good issuers and good bonds. All of the bonds’ issuers are listed companies that having good credit and also risk management. The bonds’ documents are carefully reviewed before disbursement. DCIP has no bond related to Tan Hoang Minh group or other unhealthy issuers.
With the target to maintain Fund’s high liquidity and comparatively good return, DCIP will maintain high exposure in liquid corporate bonds and short-term instruments. The CDs and bank deposits portion will be reduced accordingly when new corporate investments are added and vise versa. The priority is liquidity of the portfolio.
