VFMVF1 – 06/2017
By the end of June 2017, the value of VF1’s NAV per unit rose 5.1% since last month, higher than its benchmark by 0.8%. Of which, Food and Beverage (VNM, SAB), Retail (MWG and PNJ) and Banking sector (ACB, CTG, MBB and VCB) contributed the most to the growth of the portfolio.
Among the top holdings, PNJ has disclosed results for the first half of FY2017, showing impressive growth of 45% in retail sales, particularly sales of existing stores up 28% over the same period. The strong growth comes from the expansion of the new stores in addition to the trend toward the use of branded jewelry. Pretax profit came at VND471 billion, up 54% y/y and reaching nearly 62.5% of the full year target.
At the end of June, VF1 recorded a 16.4% growth compared to the beginning of the year, higher than the benchmark growth of 13.9%. The proportion of cash and cash equivalents slightly decreased from 13.4% at the end of May to 11.1% at the end of June as some new stocks were added to the portfolio.
