DCIP_Monthly Update_May 2022
As of 31 May 2022, the net asset value of DCIP Fund units (NAV/Unit) was VND 9,914.02 VND/ unit, increased by 0.51% compared to end of April 2022 and 2.59% Ytd. For May 2022 and Ytd, DCIP outperformed its internal reference index (the average 3months deposit rates from big 4 SOCB) which increased 0.31% and 1.50% for the same periods respectively. Celebrating its first birthday on 24May, the fund made 6.66% in 1 year rolling performance.
During the month, the fund bought 4 corporate bonds, which pushed up the bond position. Ats end of May, the exposure on corporate bonds was at 73.4%NAV (increased from 55%NAV), 16.5% in certificate of deposits (unchanged) and 10.1% in cash and bank deposits (reduced from 28%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.
