Dragon Capital Vietfund Management (DCVFM) | Fund Factsheet

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VFMVFB 07/2016

19/10/2017

In July 2016, VFMVFB holds its investments in 5-year government bond and certificates of deposit. During the month, the fund liquidated its investments in 10-year bonds and cleared REPO transaction which has been engaged in June 2016. The fund continues to engage in a new REPO transaction on its 5-year government bonds and uses the proceeds to deposit in banks. This activity is done bases on the facts that macro-economic signals suggest monetary policy and market supports of the State Bank will continue to be maintained as happened in the first half year of 2016. Due to REPO and deposit activities, weights of VFMVFB’s asset allocation change significantly at 31/07/2016 compared with corresponding figures at the end of June 2016. The weights of investment in bonds, deposits and certificates of deposit in the fund’s total assets at the time of 31 July 2016 are 34%, 42% and 21% respectively. The efforts of the funds making investment in listed corporate bonds unrealized in July due to limited investment opportunities.

VFMVFB net asset value (NAV) at 31 June 2016 is 13,168.1VND/ fund certificate, increases by 0.66% over the corresponding figure at 30 June 2016 NAV and increases 4.37% YTD. Growth of NAV/fund certificate of VFMVFB in July 2016 is higher than corresponding figure of HNX Total Return Bond Index announced by Hanoi Stock Exchange. Given macroeconomic condition and monetary policies in the last 6 months of 2016, VFMVFB will continue to maintain its large holdings of high liquidity government bonds in the fund’s total assets and seeking opportunities to increase return for fund from the bonds.