Dragon Capital Vietfund Management (DCVFM) | Fund Factsheet

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VFMVF1 – 09/2016


In the 3rd Quarter 2016, NAV per share of VF1 had increased by 8.6%, achieved VND 29,260.1 with major contribution from stable sector such as Food & Beverage (grown by 20.13% in this period). Besides, the cyclical industries such as Materials (grown 15.6% in the 3rd quarter), Real Estate (16.43%) and Technology (14.46%) are also major driver of the fund’s performance when the economy is accelerating. In the Technology sector, FPT is a company with advantaged fundamental factors, sound core business, non-influence from macro factors and long-term growth prospects. Software exporting activities of FPT continued to grow strongly with revenue and net profit increased by 34% and 25% respectively in the first 7 months, which mainly resulted from a lot of big contracts won by FPT and the improved efficiency in project management. With regards to FPT’s telecommunication operation, its revenue increase by 25% with a 19% rise of subscriptions. Besides, the divestment from distribution and retail operation in the near future will support FPT in concentrating on its core business and generate long-term growth catalyst.

In September, VF1 maintain its Cash position stable at 15% when the market is reasonably priced. VF1’s portfolio has grown by 24% since the start of 2016, higher the benchmark return of 15.5%.