Dragon Capital Vietfund Management (DCVFM) | Fund Factsheet

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VFMVFB – 02/2017

19/10/2017

At the end of February, NAV per share (NAVPS) of VFB increased by 0.84% within a month compared to the internal benchmark return (0.99%) of the HNX 3-year bond Total Return Index (HNX 3Y TR) of the Hanoi Stock Exchange. As of 28 February 2017, NAVPS of VFB achieved VND 14,093.2, increased by 1.98% year-to-date and by 10.06% YoY. The growth in NAVPS in February mostly attributed to the capital gain of the 5-year government bond held by the Fund. In February, 5-year bond yield has decreased by 23.7 basis points, causing a surge in bond price. Within the month, VFB has also invested in Certificates of Deposits (CD) issued by consumer finance companies, increase the allocation in CDs of the fund’s portfolio to 42.9% of the NAV (compared to 25% as of 31 January). Assets in the fund’s portfolio are mostly Government bonds and Certificates of Deposits as of end of February, the weight of cash & cash equivalent is now 4.3% of the Fund’s NAV.

In the near future, VFB will continue to invest in Government bonds and actively look for trading opportunities under the circumstances of bond yield fluctuations on secondary market due to the effect from interbank interest rates and the VND/USD exchange rates. Besides, the Fund will seek for opportunities to invest in corporate bonds in the following months.