VFMVFB – 06/2017
VFMVFB has achieved outstanding results in the second quarter of 2017 with a net asset value (NAV) growth rate of 5.07%. VFB’s share value was VND 14,821.76 at Jun 30, 2017 and VND 14,107.2 at Mar 31,2017. NAV per share of VFB fund climbed by 7.26% compared to the beginning of the year and increased 13.31% compared to the same period last year. As compared to May 2017, the growth rate in June was 1.72%, lower than the growth of 1.83% in May. Beside the outstanding performance of the fund, VFMVFB also received much Investors’ interest in the first half of 2017. Total of 15.31 million fund certificates were registered to buy in the first 6 months of 2017 with a total investment of VND 218.8 billion. In the meantime, 2.6 million fund certificates worth VND 37.1 billion were withdrawn from the fund. Total net asset value of the fund has grown strongly from VND 102 billion as of Dec 31, 2016 to VND 320.6 billion on Jun 30, 2017. Results of investment activities in the first 6 months of 2017 contributed VND 14.17 billion to the fund’s total net asset growth. Fund operating profit mainly comes from the unrealized profit of investments in Vietnam government bonds. In the bullish market, the fund’s investments in G-bond yields are impressive. The reasonable allocation of investment into government bonds and certificates of deposit contributed to enhance the results of VFB fund when taking full advantages of money invested in the fund for investment opportunities.
VFB’s NAV per share growth in the first half of 2017 outperformed the intraday reference indices (the 3-year Treasuries Index, HNX TRI 3Y) Hanoi stock market that is 3.95% year to date. At the end of June 2017, the proportion of government bonds in VFB’s portfolio continued to increase from the end of May to 50% of fund’s net asset value. The proportion of deposits in VFB’s NAV on June 30 grows substantially from the end of May to more than 17% of NAV as the fund received large cash inflows, during the last two weeks of June. Vietnam government bonds and certificates of deposit are the two largest assets in the fund’s portfolio in the first half of 2017.
It is expected that in the coming time, VFB will continue to invest in government bonds and actively seek trading opportunities in the context of market volatility of bond yields on the secondary market. In addition, seeking corporate bond and certificates of deposit investment opportunities will continue to be promoted in the rest of 2017.
