VFMVF1 – 03/2016
VF1’s net asset value per share continued to grow 1.6% in March thanks to the recovery of stock market when foreign cash flow coming back. Accumulated from the beginning of 2016, the fund advanced 1.1%, outperforming its benchmark of 2.3%. Last month, Capital Goods, Food & Beverage and Real Estate sector were the largest contributors to the growth of the portfolio with some typical stocks such as BMP (+12%), DQC (+11%), VNM (+5%), KDH (+9%).
Considering the current situation that market is in the accumulation phase, VF1 was disbursing and investing into new opportunities, reducing the cash & fixed income from 20.2% to 17.4% NAV. Recently, VNM – the largest holding in the portfolio – announced that the amendment of its business charter, in which seven business lines will be removed, has been approved by shareholders, which is an important milestone for VNM in the process of lifting its FOL to 100%.
