Dragon Capital Vietfund Management (DCVFM) | Fund Factsheet

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VFMVF1 – 09/2017


By the end of September, the value of VF1’s NAV per unit rose 3.7% compared to last month, outperformed its benchmark by 1.1%. Of which, Capital Goods (VGC +24.6%), Retails (MWG +6.3%) and Transportation (VJC +21.4%) contributed the most to the growth of the portfolio.

Viglacera (VGC) is the leading company in building material industry in Vietnam. VGC guides for sustainable earnings growth on the back of new investments successively going online in 2017 – 2020 in the context of recovery of the real estate market. Moreover, Vietnam is still on the course of industrialization and urbanization, accordingly the infrastructure and housing development will be of high demand in the long-run. Besides, the fact that the government has plan to divest VGC brings expectation about improvement of the company’s efficiency in future.

At the end of September, VF1 recorded a 21.6% growth compared to the beginning of the year, higher than its benchmark growth of 18.4%. Cash and cash equivalent is 14.1% NAV, preparing for new investments in the coming time.